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im i« « « »
AND
H U N T ’ S
M E R C H A N T S ’
£
VPttMg
M A G A Z I N E ,'
§ «w * p x p * t,
representing the industrial and commercial interests o f
NEW
VOL 44,
YORK, FEBRUARY 26, 1887.
DIAMONDS.
7 8 TO 8 6 T R IN IT Y PLACE,
NEW YORK.
B u s in e s s F o u n d e d 1 7 9 5 .
Incorporated under Laws o f State o f New York, IS M .
R e o r g a n iz e d 1 8 7 9 .
P r in t e r s
Alfred H . Smith & C o.,
IM P O R TE R S,
182 Broadway, Cor. J o in Street.
oe
P O S TA G E A R E V E N U E STA M P S *
LEGAL T E N D E R A N D N A T I O N A L B A N K
N O T E S o f th e U N I T E D S T A T E 8 ; an d for
Foreign G o v e rn m e n ts .
,
ENGRAVING AND PRINTING,
BON DS,
Bi n e n o t e s , s h a r e c e r t i f i c a t e s , b o n d s
t'OB G O V E R N M E N T S A N D C O R P O R A T I O N S ,
DRAFTS, C H E C K S , B I L L S O F E X C H A N G E ,
STAMPS, A c . , I n t h e fin e s t a n d m o s t a r t is t ic s t y l e
FROM STEEL PLATES,
fUk SPECIAL SAFEGUARDS to PREVENT COUNTERFKmML
*
Special papers manufactured exclusively for
use o f the Company*
SAFETY C O L O R S .
SA FETY
Broadway and Nineteenth Street,
PAPERS#
AND 9 MAIDEN LANE.
LITH G A IC AH TYPE PR TIN .
O R PH
D
IN G
VICE-PRESIDENTS S
I. MACDONOUGH,
A. D. SHEPARD,
W. M. SMILLIE.
TOURO ROBERTSON.
THEO. H. FREELAND, Sect’y and Treat.
Maverick National Bank
B O STO N ,
-
-
M ASS.
-
J. A . Kohn & C o.,
F. E. Trowbridge,
BANKERS A N » BROKERS,
B A N K E R S AND B R O K E R S ,
(Mills B uilding ), 1 9 B R O A D S T ., N . Y .
Members of the New York Stock Exchange.
Execute orders on commission for Bonds, Stocks
and .Foreign Exchange.
Dealers in first-class Investment Securities.
Particular attention given to investments for Cap
italists, Trust Funds and Institutions.
CHAHLKS F. COX,
Member N. Y. Stock Exchange.
WM. Y . CAROLIN,
Carolin & Cox,
B a n k e r s & C o m m is s io n S to c k B r o k e r *
NO. 55 BROADWAY.
Branch Office, 815 Madison Av., eor. 42d St., New York
Deposits received subject to check at sight, and
interest allowed on dally balances. All Stocks ana
Securities dealt In at the New York Stock Exchange
bought and sold on Commission, for Cash or upon
Margin.
A S A P . P O T T E R , P re s id e n t.
Simon Borg & C o.,
4 0 8 . W . W O R K , C a sh ie r .
N o. 17
W. P. W ight & C o.,
72 B roadw ay,
STO CK B R O K E R S .
Stocks, Bonds and Miscellaneous-Securities bought
«na sold for cash or on margin.
w .p. w ig h t ,
J. B. Creighton .
M
emb. N.Y. Stock Exch.
A. B. Claylin , Spee’l
STOCK
S T .,
NEW
YORK
Railroad and Investment Seeuriti
So u t h e r n Se c u r it ie
a
BANKER AND BROKER,
N oe. 3 A 5 B r o a d o r 3 9 W a l l S tree ts.
(Branch Ofjtcb, 990 Br o a d w a y .)
Member of the New York Stock Exchange. Di
rector of Merchants’ Exchange National B a n k ,
American Savings Bank, American Safe Deposit
Company, Ac., Ac.
Securities bought and sold on commission, for
cash or on margin. All inquiries gratuitously res
ponded to. Correspondence solicited.
Douglas & Jones,
7 2 Broadway,
1 3 New Street.
(Members o f the N. Y. Stock Exchange.)
Buy and sell Stocks and Bonds for cash or on mar
gin. Interest allowed on deposits. Correspondence
solicited.
JOHN F. DOUGLAS,
Of the late firm of Lawson, Douglas A Co.
WILLARD H. JONES,
Late o f W.S.Lawson A Co., Member N. Y.Stock Exeb.
Notice.
Sp e c ia l !
THE INVESTORS’ SUPPLEMENT
will hereafter
Saturday it
Specialists in R a ilr o a d R o n d s, January, March,be issued on the lastand November
May, July, September,
Buttrick & Elliqlkn,
Lansdale Boardman,
T R O Y , If. Y . , NO. 17 FIRST STREET.
Stock Exoh.; membership; private wire all facilities.
N ASSAU
DEALERS IN ALL KINDS OF
BROKER.
Ne w Y O R K , 80 BROADWAY A 5 NEW ST.
5 4 and 5 6 B R O A D W A Y , New York.
BARTHOLOMEW HOUSE, I ,I,nTfnnN
BARTHOLOMEW LANE, { LU flw r|.
N o . 2 E x c h a n g e C o u r t, N e w Y o r k .
Stocks, Bonds and U. S. Government Securities
Bought and Sold on Commission.
Wh . C. Floyd -Jonks,
W illiam Robison
Members New York Stock Exchange.
Floyd-Jones & Robison,
$ 4 0 0 ,0 0 0
$ 4 0 0 ,0 0 0
Accounts o f Banks, Bankers and Corporations
BOlicited.
Our facilities for COLLECTIONS are excellent
snd we re-discount for banks 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 plaoe
money by telegraph throughout the United States
andCanada.
Government Bonds bought and sold, and exchanges
I» Washington made for banks without extra oharge.
We have a market for prime first-class Investment
securities, and invite proposals from States, Coun
ties and Cities, when issuing bonds.
We do a general banking business, and invite correspondence.
C A P IT A L , $ 1 ,0 0 0 ,0 0 0 .
Transacts a general banking business.
Receives aeoounts of banks, bankers and corpora
tions upon favorable terms.
Issues certificates o f deposit bearing interest.
Makes loans upon approved merchandise.
Solicits mercantile and personal accounts.
B ills o f E x c h a n g e D r a w n o n th e C ity
R a n k , L im ite d , L o n d o n .
Circular Letters o f Credit issued for
travelers’ use and Commercial Credits
opened in Europe, A s ia , South America
and the W est Indies.
Special Attention Given to American
Securities.
Solicit Accounts and Orders 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
sight.
Members of the New York and Boston Stook Ex
changes and of the New York and Chicago Produce
Exchanges.
Private wires to Chicago, St. Paul, Boston, Hart*
ford, Buffalo and Utica.
IA IL W A Y T IC K E T S O F IM P R O V E D S T Y L E S .
S h o w C a r d s , L a b e ls , C a le n d a r s .
BLANK BOOKS OF EVERY DESCRIPTION
ALBERT 6. GOODALL, President
Produce Exchange Bank.
SOLIDv SILVER.
G O R H A M M ’t’g C o., H. L. Horton & C o.,
W o r k E x e c u t e d In F i r e p r o o f B u i ld in g s .
C A P IT A L ,
SURPLUS,
NO. 1,181.
THE. NEW YORK
A M E R IC A N
Bank N o te C om pan y,
and
STATES*)
jjfitmmcial.
I P w a u p c ia X .
E ngravers
the united
18
W ALL
STREET,
N EW f YORK.
CORRESPONDENCE INVI'
This is merely a change in the months o f issue for
the convenience of the publication office.
The next issu e o f T H E SUPPLEMENT
will therefore be on
SATU RD AY, M ARCH 36.
Instead of to-day, February 36, as under the oij
arrangement.
il
THE CHRONICLE.
[V ol . XLIV.
gatxfcjers awÄ gratujers of 'govziQU %xtìmuQt.
Drexel, Morgan & C o., Kidder, Peabody & Co.,
WALL STREET, CORNER OF BROAD,
;n E W
YORK.
Drexel & Co.,
Drexel,Harjes & Co
FOREIGN BANKERS,
1 Nassau Street, New York,
P A R IS .
DOMEB1IO A N D FOREIGN BANKERS.
Deposits received subject to Draft. Securities
bought and sold on commission. Interest allowed on
Deposits. Foreign Exchange. Commercial Credits.
Cable Transfers.
Circular Letters for Travelers,
available in all parts of the world.
I N V E S T M E N T CO.
o f Philadelphia.
118 Devonshire Street, Boston. 3 I O
Tor. o f 5th A Chestnut Sts. 31 Boulevard Haussmann,
P H IL A D E L P H I !
THE
ATTORNEYS AND AGENTS OF
Messrs. BARING BROS. & GO., London
CHESTNUT
STREET,
C ap ita l, 8 2 ,0 0 0 ,0 0 0
F a ll paid.
Buys and sells Bills of Exchange, drawing nn
Baring Bros. & Co., London, also on Paris and
Acts as Financial Agent in the negotiating ans
marketing of Securities. Deals in Bonds—
Comoro,
tion, Railroad, State, Municipal, Ac. Executes orta»
on commission in Bonds, Stocks, Ac. Collects interest
and dividends. Receives money on deposit, allow
C ir c u la r C red its fo r T ra v e le r s .
ing interest. As desirable investments offer will
issue its Debenture Bonds, secured by its capital and
------Gable T ransfers and B ills o f E xchange on assets.
A t t o r n e y s a n d a g e n t s op
M eeere. J . S. M O R G A N Sc C O .,
G r e a t B ritain and th e Continent.
WILLIAM BROCKIE, President.
WHARTON BARKER, Vice-President.
No. 22 OLD BROAD STREET, LONDON.
HENRY M. HOYT, J r ., Treasurer.
entETHELBERT WATTS, Secretary
Board of Directors—William Brockie, George a!
BANKERS,
Pepper, Morton McMichael, Wharton Barker. Henn
C. Gibson, T. Wistar Brown, William Potter.
1
N o . 1 2 P in e S treet,
Philadelphia,
N ew Y ork,
Boston,
Advisory
of Stockholders.—
ISSUE TRAVELERS’ CREDITS, available In all Troutman, Committee English, Isaac H.George M
Gustavus
Clothier
AND
parts of the World, through
William Pepper, M. D., Thomas Dolan, John o’
A L E X A N D E R S H O W N & S O N ?,
Messrs. N. M. Rothschild Sc Sons, London. Reading, Joseph E. Gillingham, John Wanam&ker
“
de Rothschild Bros., Paris.
Henry E. Smith. Charles B. Wright, Henry Lewis’
BALTIMORE.
“
M . A . de Rothschild A Sons, Frank Cralge Lippincott,Hamilton Disston, Clayton French!
Members of New York, Philadelphia and Baltimore
Francis Bawle.
fort o\m .
Stock Exchanges.
Execute orders for all investment securities. Buy S. M . de Rothschild, Esq., Vienna.
AND THEIR CORRESPONDENTS.
and sell Bills of Exchange on Great Britain and
Ireland, France, Germany, Belgium, Holland,
Draw Bills of Exchange on, and make Cable TransSwitzerland, Norway, Denmark, Sweden,
fers to, England. France and Germany.___________
Australia, St. Thomas, St. Croix and
British West Indies.
I s s u e C o m m e r c ia l Sc T r a v e le r s ’ C redits
29 W IL L IA M ST R E E T ,
in a m u l in g ,
Cor. Exchange Place,
NEW YORK.
BANKERS,
Available In any part of the world, In Francs for
N o. 23 B R O A D S T R E E T ,
use In Martinique and Guadeloupe, and in dollars for
FO R E IG N BANK ERS.
use In this country, Caraia, Mexico and West Indies.
N ew Y o r k .
Make telegraphic transfers of money between this
BUY AND DRAW BILLS OF EXCHANGE,
country, Europe and British and Danish W est In Issue Letters o f Credit for Travelers
MAKE CABLE TRANSFERS, ISSUE TRAVEL.
dies. Make collections of drafts drawn abroad on all
On SELIGMAN BROTHERS, London.
points In the United States and Canada, and of
BBS’ CREDITS.
SELIGMAN FREKES & CIE. Paris.
drafts drawn In the United Stales on foreign coun
ISSUE COMMERCIAL CREDITS, AVAILABLE
SELIGMAN & STETTHEIMER, Frankfurt.
tries.
AL8BERG, GOLDBERG & CO., Amsterdam. IN ALL PARTS OF THE WORLD, ON
l ’helr London house, Messrs. BROWN, SHIPLEY
ALTMAN & STETTHEIMER, Berlin,
& CO., receive accounts o f American banks, firms
and individuals upon favorable terms.
Payable in any part of Europe, Asia, Africa, Aus Messrs. C. J. IIambro & Son. London.
tralia and America.
Draw Bills of Exchange and make Telegraphic
Transfers of Money on Europe and California.
Brown Brothers & C o .,
C O M M E R C IA L
C R E D IT S .
August Belmont & C o.,
Heidelbach,
Ickelheimer & Co.,
J . & W . Seligman & Co.
J. & J. Stuart & C o.,
3 8 N ASSAU
STREET.
BILLS OF EXCHANGE ON
S M IT H ,
P A Y N E Sc S M I T H ’ S ,
BANKERS, LONDON,
M A N C H E S T E R Sc C O U N T Y R A N K ,
“ LIMITED,”
MANCHESTER, PAYABLE IN LONDON;
U L S T E R R A N K IN G C O M P A N Y ,
BELFAST, IRELAND;
J. K e n n e d y T od .
H . O. N o r th c o te .
J. Kennedy T od & C o., J. C. W alcott & Co.,
WILLIAM STREET,
BANKERS.
Act as Agents for Banks, Bankers and Railroad
Companies.
Issue commercial credits, also foreign and domestic
travelers’ letters of credit in pounds sterling &dollars.
O ffer I n v e s tm e n t S ecu rities.
Bny and sell bonds, stocks and securities in all Am
AND ON THE
erican, Canadian, British and Dutch markets on com
N A T I O N A L R A N K O F S C O T L A N D , mission. Collect dividends, coupons and foreign and
inland Drafts.
EDINBURGH AND BRANCHES;
Sell Bills of Exchange on
ALSO,
M EL V IL L E , EVANS Sc CO., I T
CABLE TRANSFERS AND LETTERS OF CREDIT.
G. J. HAM BRO Sc SON,
} LONDON.
M AR CU AR D , K R A U S S Sc C O .,!P i B , a
HOTTINGUKR Sc CO.,
JP A R IS .
N o . 3 2 N a ssa u Street, N e w Y o r k .
BANKERS AND BROKERS.
N o . 2 4 P in e S treet, N e w Y o r k .
No. 68
J ohn M unroe & C ^ .,
N o . 4 P o s t Office S q u are , B o s to n .
lim e Circular Letters o f Credit for Travelers’ Use
Abroad against Cash or Satisfactory
Guaranty o f Re-payment.
E x c h a n g e o u L o n d o n , P a r is , R e r lln
a n d Z u r ic h .
gimkje*# and gxaJxoxs.
A l e x a n d e r b a r in g .
Member N. Y. Stock Exch’ge
John Paton & C o.,
SUCCESSORS TO
JESIJP, P A T O N & CO.,
Transact a General Banking Bus! near,
Stocks and Bonds bought and sold on Commission.
Orders received in Mining Stocks, and in Unlisted
Securities. Collections made and loans negotiated.
Dividends and interest oollected.
Deposits received subject to Draft.
Interest allowed. Investment securities a specialty.
We issue a Financial Report weekly.
Jos. C. W alcott,
1Members of the New York
F r a n k F. D ic k in s o n , j
Stock Exchange.
Simons & Chew,
STOCK R R O K E R S ,
2 E x ch an ge C ou rt Sc 5 2 B r o a d w a y , N. Y,
Stocks, Bonds and United States Governmei t
Securities Bought and Sold on Commission.
Ja s . D. Sim o n s ,
B e v e r l y Ch ew .
Member N. Y. Stock Exchange.
5 2 W i l l i a m S treet, N e w Y o r k .
Member N. Y. Produce Exchange.
Accounts and Agency of Banks, Corporations,
firms and individuals received upon favorable terms.
0 «EDITS OPENED AND PAYMENTS MADE BY CABLE.
Dividends and interest collected and remitted.
Act as agents for corporations in paying coupons
P a r is H o u s e —M U N R O E Sc CO.
and dividends; also as transfer agents.
1 8 W a l l S treet, N e w Y o r k ,
Bonds, stocks and securities bought and sold on
Execute Orders In all Securities Listed on
commission, at the Stock Exchange or elsewhere.
Sterling Exchange and Cable Transfers bought and
NEW YORK STOCK EXCHANGE.
sold.
Special Attention given to
DRAW ON
BANKERS,
THE UNION BANK OF LONDON,
29 W IL L IA M S T R E E T , N E W Y O R K
Government & other Investment Bonds
CORRESPONDENTS OP THE
Correspondence Solicited
BRITISH LINEN CO. BANK, LONDON AND
I n te r n a tio n a l R a n k o f L o n d o n
SCOTLAND.
(L im it e d ), L o n d o n .
G eo . Co p p e l l .
Th os. Ma it l a n d .
M e s s r s . J o h n K e re n berg, G o ssle r Sc C o ,
G e r a l d L. H o y t , Member N. Y . Stock Exch.
H am bu rg.
48 W A L L S T R E E T ,
M e ssr s. M a r c n a r d , K r a u s s Sc C o ., P a r is
(Bank of New York Building).
Commercial and Travelers’ Credits.
Bonds and Stocks bought and sold at the New
Bills of Exchange.
Cable Transfers.
B A N K E R S
York Stock Exchange.
AND
BONDS AND INVESTMENT SECURITIES FOB
SALE
C OM M ISSION MERCHANTS,
L. C. L a t h r o p . Os c a r B. Sm i t h . J. H .O l ip h a n t .
R AN K ER S AND R R O K E R S,
2 2 Sc 2 4 E x c h a n g e P la c e ,
Members of the New York Stock Exchange.
Ne w Y o r k .
Dealers i n F o r e ig n E x c h a n g e , Go v e r n m e n t
Cahoone & Wescott,
Schulz & Ruckgaber,
William T . Meredith,
Maitland, Phelps & C o.,
Unger, Smithers & C o.,
AND OTHER INVESTMENT BONDS.
Lathrop, Smith & Oliphant,
BANKERS AND BROKERS,
BÏLLS OF EXCHANGE, LETTER8 OF CREDIT,
STERLING LOANS A SPECIALTY.
4 4 W a l l St. a n d 6 2 G reen e S t. N . Y .
TELEGRAPHIC TRANSFERS OF MONEY ON 3 7 B R O A D S T ., N E W Y O R K ,
Buy and sell on commission, for investment or on
LONDON, PARIS, MEXICO, CUBA, Ac.. &e.
6 P A C IF IC A Y E ., CH IC A G O .
margin, all securities dealt in at the New York Stock
Exchange.
Members New York Stock Exchange, New York
KOVNTZE BR O TH ER S.
Cotton Exchange, and Board of Trade Chicago.
C an adian B a n k
BANKERS,
c a p i t a l , $«,000,000.
Su r p l u s , $i ,60o, ooo.
120 B r o a d w a y , Equitable Building, New York
J. H. G0ADBY & ALEX. LAIRD,
L E T T E R S OF C R E D IT AND
C IR C U L A R NO TES
AGENTS,
Issued for the use of travelers In all parts of the
1 6 E X C H A N G E P L A C E , N E W Y O R K world. Bills drawn on the Union Bank of London.
te w a r t
row n s
ons
BUY AND SELL STERLING EXCHANGE, CABLE Telegraphic transfers made to London and to various
places in the United States. Deposits received sub
TRANSFERS, ETC.
check at sight,
allowed on bal
STO CK B R O K E R S ,
88UES COMMERCIAL CREDITS, AVAILABLE ject to Government ana and Interestand Investment
ances.
other bonds
.IN.AJLL PARTS OF.THE WORLD..
securities bought and sold on commission.'
64 B roadw ay Sc 19 New S t., New Y ork.
of Commerce.
S
B
’
S
,
in
THE CHKOINLCLE.
February 26, 1887.]
'ftmxkzxs vmñ 'gvoU&cs in fjjetxr ^[oxk (ftiitj.
W wtTBI.iT.
H.
CBP 9 1 B
OAKLEf ■
MAYNARD C E T I ! !
H e n r y U . D o d g e , Waahlngton, U. 0 .
*W m. R. T r a v e r s , SpecialPartner.
Taintor & Holt,
Prince & Whitely,
BANKERS,
JAM M
Geo. K. Sistare’s Sons,
1 6 A 1 8 B r o a d S tr e e t, N e w Y o r k .
1 2 1 S o u th T h ir d S tree t, P h ila d e lp h ia ,
Connected by Private Wire with main office. New
r*
York.
DEALERS IN
N o . 11 W a l l S t ., C o r. N e w , N e w Y o r k .
No 6 4 B R O A D W A Y , N E W Y O R K .
„ ___ ( 180 Fifth Ave., New York.
TRANSACT a GENERAL BANKING business.
BRANCH OFFICES Jggg
8t>> Washington, D. C.
DEPOSITS received and INTEREST allowed on F IR S T -C L A S S IN V E S T M E N T S .
RnT and sell on commission all classes of Railroad balances.
__
, “ “nties: also Grain and Provisions.
Buy and sell GOVERNMENT, MUNICIPAL and
Private telegraph wires to Philadelphia. Wllmln*.
Buy and sell on Commission, for cash or on margin,
..„ Baltimore, Washington, Bridgeport, New Haven, RAILROAD Securities.
all securities dealt In at the New York Stook Ex
Boston and Pittsburg.
Private telegraph wires to Providence and Boston change. allowed on daily balances.
Interest
All deposits subject to check at sight.
GILES B. TAINTOR.
GEO. H. HOLT.
Particular attention to orders by mail or telegram.
G. D. L’HUILIER.
F.C. H o l l in s . E.H. E m e r s o n , I.H. W a g g o n e r
BANKERS,
jg W A L L a n d 3 N A S S A U S T R E E T S ,
NEW YORK.
Transact a G e n e ra l B a n k in g B usin ess.
BANKERS AND BROKERS,
BANKERS AND BROKERS,
dealers i n g o v e r n m e n t , m u n i c i p a l a n d
M ills B u ild in g , 3 5 W a l l S t., N e w Y o r k .
Members N. Y. Stock Exchange.
RAILROAD SECURITIES.
demand d e p o s i t a c c o u n t s r e c e i v e d ,
11 W A L L S T R E E T , N E W Y O R K ,
Ch as . W. T urner ,
interest a l l o w e d o n d a i l y b a l a n c e s . A ustin G. Go rh am .
AND
Ch as . 0 . N oble .
Member N. Y . Stook Exoh.
2 4 6 C L A R K S T R E E T , C H IC A G O , I L L .
H. B. Hollins & Co.,
Gorham, Turner 6c C o., Frank C. Hollins 6c C o.,
E. L. Oppenheim & C o.,
Gilman, Son & C o.,
[ESTABLISHED 1862],
BANKERS,
BANKERS AND BROKERS,
No.
61 & 68 New Street and 42 Broadway.
Br a n c h Of fic e , 91 L e o n a r d St r e e t .
Edvard L. Oppenheim.___________ Walter Del Mar.
Alexander Campbell & Co.,
BANKERS AND BROKERS,
17 N A SSA U S T R E E T , N E W
malcolm
YORK.
Campbell , Member o f N. Y. Stock Exoh.
62
CEDAR
A . Dutenhofer,
RROKER
STREET.
In addition to a General Banking Business, Buy
«id Sell Government Bonds and Investment Securi
ties.
W. H. D i c k in s o n ,
E d w Ar d p . A l l i n g .
Member N. Y. Stook Exchange.
Dickinson & Ailing,
R ANKERS
AND
B R O K E R S,
N o . 3 0 P in e S treet, N e w Y o r k .
Buy and sell at N. Y. Stock Exchange, for IN
VESTMENT or on MARGIN, all classes of Stocks
and Bonds, and allow Interest on deposits, subject to
check at sight.__________________________________
Fred. H . Smith,
C. J. Turner,
BANKER & BROKER,
(16 Years’ Membership in the N.Y. Stook Exchange.)
B A N K E R AND B R O K E R ,
AND
Dealer in Miscellaneous Securities,
MILLS BUILDING (3d Floor,)
Booms 25 A 26.
33 W A L L ST R E E T .
STATE AND CITY BONDS OF GEORGIA, ALSO
SECURITIES OF THE CENTRAL RR. & BANKING CO. OF GEORGIA, A SPECIALTY.
Investors wishing to buy or sell are Invited to call
or correspond. Prompt and personal attention given
to all orders.
P a u l Sc h w a r z .
S. M. R o b e r t s .
Roberts 6c Schwarz,
( M I L L S B U I L D I N G ,)
IN V E S T M E N T
S E C U R IT IE S .
No. 2 0 R R O A D S T ., N E W Y O R K .
We make a specialty of the buying, selling and
Twenty years’ experience In Railroad Bonds. Par
16 A 18 BROAD ST., NEW Y O R K .
placing of first mortgage bonds of railroads, water
ties desiring to buy or sell Unonrrent Bonds will
Transacts a general Banking business, including the works, gas works and other first-class corporations.
please communicate.
Stocks bought In Fractional Lots or otherwise, purchase and sale of stocks and bonds for cash or on
We solicit correspondence.
margin.
either for Cash or on Margin.
F. H. Sm it h , >Members Consolidated Stook and
S. W. Sm it h , ( Petroleum Exchange, New York,
chas . J. T o w n s e n d ,
L a n s i n g C. W a s h b u r n .
Member N.Y. Stock Exchange.
1 6 Sc 1 8 B R O A D S T .,
BANKERS AND BROKERS,
Jn o . P. T o w n s e n d , Special Partner.
N o . 1 0 W A L L S T ., N E W Y O R K .
BROKER IN ALL KINDS OF INVESTMENT
Orders for Stocks and Bonds executed at all
BONDS, MISCELLANEOUS SECURITIES
Exchanges.
Especial attention given to supplying high-class
AND DEFAULTED BONDS.
BANKERS AND BROKERS,
IN V E S T M E N T S E C U R IT IE S ,
CORRESPONDENCE SOLICITED
No. 6 W a l l S treet, N e w Y o r k .
Stocks and Bonds Bought and Sold on Commission
Ja m e s T . Cl o s s o n .
Jo h n b . D u m o n t
for cash or on margin.
H e m a n Cl a r k , Special Partner.
Special attention given to Unlisted Securities.
Deposits received subject to Check at Sight.
Correspondence Solicited.
John H. Davis 6c C o.,
Albert Pearce,
Townsend & Washburn,
Closson 6c Dumont,
Chrystie 6c Janney,
BANKERS,
Nos. 2 3 Sc 2 5 N a ssa u S t ., N e w
Y ork .
c C Co.
B A N K E R S ,
Receive deposits subject to check at sight and
N o .
18 W A L L
S T R E E T ,
allow Interest on balances.
N ew Y o r k .
Deal in Kail Road Bonds, State, County and Muni
cipal Securities.
Transact a General Banking Business, including
Give special attention to consignments o f Bullion the purchase and sale of STOCKS and BONDS for
and make liberal advances on same when desired.
cash or on margin.
B u y a n d S ell I n v e s t m e n t S e c u ritie s.
W a ls t o n H . B r o w n .
Fr e d , a . Br o w n .
H erbert P. Br o w n .
A . M . K id d e r . W a y l a n d T r a s k . H . J. M or se .
W . C. H il l .
Walston H. Brown & Bros
BAN K ERS.
Accounts of Corporations and Individuals received
upon Liberal Terms. Securities Bought and Sold on
Commission.
NO . 2 0 N A S S A U S T R E E T ,
NEW Y O R K .
Hamilton & Bishop,
BANKERS AND BROKERS.
No. 35 P I N E S T R E E T , N E W Y O R K .
(Members New York Stock Exchange.)
Accounts of Banks, Bankers and others received.
Interest allowed on balances. A strictly Commission
business in the purchase and sale of stocks and bonds.
Private Telegraph Wire to Albany,Troy, Syracuse,
Rochester, Utica, Buffalo, Cleveland and Chicago.
Draw on City Bank o f London in amounts to suit,
special attention given to Securities for investment.
6 o o d t j f
M s ie tta n
& C on
No. 7 NASSAU STREET,
N ew
Y ork.
Rolston 6c Bass,
NO. 20 BROAD STREET, NEW YORK.
STOCKS, BONDS,
A N D M IS C E L L A N E O U S S E C U R I T I E S
B A N K E R S ,
SS B r o a d w a y , c o r. E xch an ge P la ce , N. Y , Correspondence solicited.
Quotations cheerfully furnished.
B ra n ch Office, 2 4 1 L a S a lle S t., C hicago.
W m . H. R olston ,
W. A le x . B ass , Jr.
TRANSACT A GENERAL BANKING BUSINESS, Member N. Y. Stock Exch’ge.
INCLUDING THE PURCHASE AND SALE OF
STOCKS AND BONDS FOB CASH OR ON MAR
GIN. BUY AND SELL INVESTMENT SECURI
TIES. INTEREST ALLOWED ON DEP08IT8
SUBJECT TO CHECK AT SIGHT.
N o. 145 B R O A D W A Y ,
P. O. Box 447.
D. A. BOODY.
C. W. McL ellan .
NEW YORK.
H . L. Grant,
Re uben Le la n d .
BANKERS,
U N IT E D B A N K B U IL D IN G ,
W a l l S tree t, c o rn e r B r o a d w a y .
W O O D & D A V IS .
Execute orders in all securities listed at the New STOCKS, BONDS <t COMMERCIAL PAPER.
¿Ork Stock Exchange. For Sale:
Stocks and Bonds bonght and sold on commission
* irst -Cl a s s R a i l r o a d F ir s t M o r t g a g e B o n d s . at New York Stock Exchange. Advances made on
GEORG*
OOD. C. H. HUESTIS. L. M. SWAN business paper and other securities.
SUCCESSORS TO
T. L. Robertson,
BOND AND STO CK B R O K E R ,
Dealer in Investment Securities,
(Continental National Bank Building,)
Wood, Huestis 6c C o.,
31 PINE STREET, NEW YORK,
BANKERS AND
BROKERS.
BANKERS AND BROKERS,
N o . 4 0 W a l l S treet, N e w 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 balances.
CITY RAILROAD STOCKS & DONDS
BOUGHT AND SOLD.
See Quotations of City Railroads in this paper.
Howard Lapsley 6c C o.,
BANKERS AND BROKERS,
74 B R O A D W A Y an d 9 N E W S T R E E T ,
N ew Y o r k ,
THE CHRONICLE
[Y o u XLIV,
Canadian and 'goxziQU Santis and %nnktvs.
special Snnjcstmjents.
iv
F O R E IG N .
C A N A D IA N .
Bank o f Montreal.
C A P IT A L , SURPLU S, -
-
$ 1 2 ,0 0 0 ,0 0 0 C o ld .
- $ 6 ,0 0 0 ,0 0 0 C o ld .
CL F. SMITHERS, President.
W. ,T. BUCHANAN, General Manager.
Jarvis-Conklin
Mortgage Trust Co.,
THE
Railway Share Trust Co.
(LIMITED).
N o. 4
B A N K
SUCCESSORS TO
Jarvis, Conklin & Co
KANSAS
B U IL D IN G S
C IT Y ,
C a p ital P a id U p
NEW
N os.
50
A
YORK
61
LONDON, ENGLAND.
O FFICE:
W ALL
STREET,
WALTER WATSON,1
A l e x ’ r LANS,
JA g e ^ s .
C a p ita l P a id U p , £ 9 7 1 , 8 6 0 S te rlin g .
SBny and Sell Sterling Exchange, Francs and Cable
Transfers; grant Commercial and Travelers’ Credits
available In any part o f the World; Issue drafts on,
This Company undertakes the business of Trustee
and make Collections In, Chicago and throughout the
to Loans of approved Railways, negotiates and
Dominion o f Canada.
issues Loans on the London Market, acts as Agent for
L o n d o n Office, N o . 2 2 A b c h u r c h L a n e .
Railways and other Corporations, either in the mat
Imperial Bank o f Canada
C A P I T A L (p a id u p ),
SU R PLU S, - - - - H. S. HOWLAND, Pres’t. D.
H E A D O F F IC E ,
or Registration of Stocks in London, or otherwise.
- - $ 1 ,5 0 0 ,0 0 0
- $ 5 0 0 ,0 0 0
R. WILKIE, Cashier.
TORONTO.
BRANCHES IN ONTARIO.
Essex Centre.
Fergus.
GalL
ingnr.nll.
ter of payments o f Interest on Loans, Dividends on
Niagara Falls.
Port Colborne.
st. Catharines.
St. Thomas.
Toronto.
Toronto, Yonge St.
Welland,
Woodstock.
BRANCHES IN NORTHWEST.
Cable Address—Pa VY, London .
Heinemann & Co.,
Winnipeg.
Brandon.
Calgary.
Agents In London :
| Agents m New York :
Lloyd’s, Barnett s & Bos- jjan k 0 p M o n t r e a l ,
anquet’s Bank, limited, 1
Promptest attention paid to collections payable In
any part of Canada.
,
‘ . S olicit
Approved Canadian business paper discounted at
the Head Office on reasonable terms, and proceeds
remitted by draft on New York.
Dealers In American Cur’y and Sterling Exchange.
M e r ch a n ts ’ Bank
Lw *- -m IO F C A N A D A .
Capital, • • - $5,799,200 Paid Up.
B e s e r r e , ............................ $1,600,000
62 Gresham House, E. C.,
LONDON.
accounts and agencies of Banks, Railways
Corporations, Firms and Individuals upon
favorable terms; also orders for the pur
chase and sale of Bonds, Shares, Ac., Ac. on
the Stock Exchange.
Interest allowed on Deposits, subject to 60-days
sight drafts, at Bank of England rate, and
one per cent below that rate subject to
demand drafts.
N egotiate Railway, State and City Loans.
AGENCY
OF
THE
B a n k
This Company offers for] sale at par and
accrued interest its
S IX P E K C E N T D E B E N T U R E S ,
payable half-yearly at the office o f TH 3 MER
CANTILE TRUST CO., NEW YORK. These
Debentures run for Ten years, hut with the
option o f redemption at the end o f Five years.
They are direct obligations of the Company,
and are further secured by an equal amount of
Real Estate Mortgages on im proved and pro
ductive Real Estate worth from three to live
times the amount outlie mortgages, held by THE
MERCANTILE TRUST CO., which under special
Articles o f 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 v ery desirable class
o f investments for Estates and Trust Fundsand for individuals and corporations desiring
an exceedingly safe investment, with a com,
paratively high rate o f interest.
Write for further information and referenoe
to our office at Kansas City, Mo., or to
R O L A N D R . C O N K L I N , Secretary,
E q u ita b le R u ild ln g , N .Y . City.
J O H N M . S H R I G L E Y , Manager,
4 1 1 W a l n u t S t., P h ila d e lp h ia .
M O R G A N Sc R R E N N A N , M an agers,
2 7 C u sto m H o u s e Street,
P r o v id e n c e , R . I.
BONDS.
We have on hand for sale a line of high-class
IN V E S T M E N T B O N D S ,
suitable for individuals, trustees or corpoiatlons, which w e offer upon favorable terms.
Parties seeking
A D O L P H B O IS S E V A IN & CO.
A m s te rd a m , H o lla n d .
B ritish N o rth A m erica ,
FIRST-CLASS INVESTMENTS
Bank of Australasia,
are invited to call upon or correspond with us.
J O H N H . D A V IS &, CO.,
rtaaai N o . 5 2 W A L L S T R E E T .
(Incorporated by Royal Charter, 1885.)
■ Buy and sell Sterling Exchange and Cable Trane 4 T l i r e a d n e e d le S t ., L o n d o n , E n g l a n d
Paid-up Capital, - - - - - - £1,600,000
lers. Issue demand drafts on Scotland and Ireland
Reserve Fund, - - - - - - - £790,000
also on Canada, British Columbia and San Francisco.
Letters of Credit and Drafts issued on any of the
C IR C U L A R NOTES issued In Pounds Sterling
available In all parts of the world. C O M M E R numerous branches of the Bank throughout Aus
C I A L C R E D IT S ISSU E D for use In Europe tralia and New Zealand.
Bills negotiated or sent for oollection.
China, Japan, Bast and West Indies and the Brazils
Telegraphic transfers made.
Elver Plate, &c.
_
. , .
.
Deposits received in London at Interest for fixed
Bills collected and other hanking business trans*
periods, or for transfer to the colonies on terms
which may be ascertained on application.
*0ted*
D. A. McTAVISH, 1 Agents
PRIDEAUX SELBY. Secretary.
H. 8TIKEMAN, JAgents.
10 W A L L
Anglo-Californian Bank
(LIMITED).
L O N D O N , Head Office, 3 Angel Court.
S A N F R A N C IS C O Office, 422 California St
N E W Y O R K Agent», J. & W. Seligman A Co
B O S T O N Correa pcnd’ts, Massachusetts N. Bk
A u t h o r i z e d C a p it a l, - - - $ 6 ,0 0 0 ,0 0 0
P a id -u p C a p ita l, - - - - 1 ,5 0 0 ,0 0 0
R eserve F u n d , - - - - - 4 0 0 ,0 0 0
Transact a general banking business. Issue Com'
mercial credits and Bills of Exchange, available in all
arts of the world. Collections and orders for Bonds,
tocks, etc- executed upon the most favorable terms,
|i
FREiVK F. LOW,
l Manager*.
lii O t
IGNATZ STEINHART, ) J ana*w *’
“
I P , N LILBNTIiAL,Cashier;
-
§
B A N K I N G C O R P O R A T IO N .
Paid-up Capital......................................... . $7.500,000
Reserve Fund.............................................. 4.500,000
Reserve for Equalization o f Dividends....
500,000
Reserve Liability of Proprietors.......... .
7,500,000
The Corporation grant Drafts, issue Letters of
Credit for use of Travelers, and negotiate or collect
Bills payable at Bombay, Calcutta, Singapore,
Saigon, Manila, Hong Kong, Foochow, Amoy,
Ningpo, Shanghai, Hankow, Yokohama, Hiogo, San
Francisco and London.
A - M . T O W N SE N D . A gent, 4 7 W illia m Hr.
Jo h n H o w a r d L a t h a m , F r e d e r ic k
Trust Co.’s Stocks.
ALL OF THE
N e w Y ork.
AND
B r o o k ly n Companies’
BOUGHT AND SOLD BY
W M . C. N O Y E S ,
96 B roadw ay
See my quotations of Trust and Telegraph Stocks
In Daily Indicator and Saturday’s Evening Pott.
C olum bus H o ck in g V a lley Sc T o le d o .
T o le d o Sc O h io C en tra l.
K a n a w h a & O h io.
E ast T en n essee V a . Sc G e o r g ia .
A m erica n S p ea k in g T eleph on e.
W . Pe r r y
Member of N. Y. Stock Exchange.
1 H. Latham & Co.,
UNITED BANK BUILDING,
N o. 2 W A L L S T R E E T , N E W Y O R K
City, County, State, Railroad,District of Columbia
Bonds and Foreign Exchange, and all Securities
lfo+ ri oi V. V. S n K
A
t.n k yp.hR ra.
m
STREET,
NEW YORK.
Hong Kong & Shanghai
THE
$ 1 ,0 6 0 ,0 0 0
R O L A N D R . C O N K L IN , Scc’ y.
W M . F . S H E L L E Y , T re a s’ r.
G E O . W . M e C R A R Y , Counsel.
AND
or
F O R E IG N .
NO.
-
OFFICERS:
S A M U E L M . J A R V I S , P re s’ t.
E D W I N E . W I L S O N , 1 st V lce-P res’ c
H E N R Y P . M O R G A N , 2 d V ice-P res’ t!
Blake, Boissevain & C o.,
__
I (President, ANDREW ALLAN, Esq.
ESCpVice-President, ROBERT ANDERSON, Esq
LONDON, E N G L A N D .
H E A D O F F IC E , (M O N T R E A L .
N eg otia te Railway, State and City loans.
GEOROE HAGUE, General Manager.
W. N. ANDER80N, Assistant Gen’l Manager. E xecu te orders for Bonds, Shares, etc., on Com
mission, and transact a general Banking and
BANKERS:
LONDON, ENG.—
The Clydesdale Bank (Limited.)
Commission Business.
NEW YORK—The Bank o f New York, N. B. A.
The New York Agency buys and sells Sterling Ex S p ecial a tten tion given to the execution of
change, Cable Transfers, issues credits available in
orders for Securities on the New York, Lon
all parts of the world ; makes collections in Canada
don and Amsterdam Exohanges, in corres
and elsewhere and issues drafts payable at any of
pondence with
the offices o f the bank in Canada. Every descrip
tion o f foreign banking business undertaken.
B R O T H E R S & CO.,
N e w F o r k A g e n c y , N o . 61 W a l l Street. B L A K E
HENRY HAGUE,
) Agents
18 W a l l S treet, N e w Y o r k ,
JOHN B. HARRIS. JR., J Agents
2 8 State S treet, B o s t o n , M a s s ,
-
*
S ou th ern T eleg ra p h .
BOUGHT AND SOLD BY
J. S. Stanton,
1 6 an«U 1 8 B R O A D
STREET.
THE CHRONICLE.
February 26, 1887,]
jp p je c ia l
ffitm u c ia l.
^ in a tu c ia X .
WE OFFER FOR SALE
New York Chicago & St.
Louis Railway Co.
lu w ö tm c tits .
Geo. H. Prentiss & C o.,
First Mortgage 6 P er Cent Gold Bonds
NO. 4 9 W A L L S T ., N E W Y O R B ,
OF THE
AND
Poughkeepsie Bridge Co.
208 IS O N T A O C fi S T ., B R O O K L W .
N O T IC E .
T O T A L IS S U E . $ 5 ,0 0 0 ,0 0 0 .
G AS
STOCKS
AD
N
GAS
» E C U R I T 1 B » ,
Street R ailroad Stocks and Boudt
AND ALL KINDS O l
BROOKLYN
S E C U R IT IE S
DEALT
bbb g a s q u o t a t i o n s
öko.
IN .
IN THIS PAP Wb,
H. P r e n t is s . W . d . P r e n t is s , w . w . w a d s s
L. F. Ol n e t J r
Member N.Y.Stock Exch.
Investment Securities
BOUGHT AND
New Y o r k , Feb. 4,1887.
Under an agreement entered into this date be
tween certain security holders of the New York Chi
M ERCANTILE TRUST CO., TRUSTEE.
cago & Louis Railway Co., the Lake Shore & Michi
This great bridge is now being built under gan Southern Railway Co. and others, James A
Roosevelt, John S. Kennedy, Adrian Iselin, Jr., D.
contract by the Union Bridge Co., o f New Y ork >
who have agreed to have it finished and open Willis James and Oliver Harriman, a committee
heretofore appointed by first mortgage bondholder»
for tratfic Jan. 1,1 888 .
The bridge w ill be used as a connecting liefe under an agreement dated Nov. 21, 1885, and Fred
eric P. Oloott, William K. Vanderbilt, James A.
by the P E N N S Y L V A N I A and E R I E Rail
Roosevelt and John S. Kennedy, the undersigned,
roads on the West with the B O S T O N & have been appointed a “ Purchasing Committee,”
L O W E L L system and the N E W Y O R K & with power to perform the duties herein set forth
N E W E N G L A N D Railroad on the East.
and to reorganize the above railway on the following
For map3, pamphlets and inform ation apply to basis:
DUE 1936.
P.
W.
GALLAUDET
CO.,
W a l l S t . , C or. B r o a d w a y ,
NEW YORK.
SOLD.
W ANTED:
Toledo Ann Arbor & North Michigan lets.
Southern Central lets.
Middletown Unlonville & Water Gap 6s.
Indianapolis & Vincennes lsts and 2da.
Scioto Valley Bonds, all issues.
A L B E R T E . H A C H F IE L D ,
&
Mahoning Coal Co. Stock.
Texas & Pacific RR. Income and Land
Grant Scrip.
N o . 5 1 P in e S tree t.
*
New Orleans Pacific RR. Land Grant
Bonds.
In te re st,
$ in ix le iu t5 ,
& r.
T H E I N T E R E S T ON T H E F O L L O W ing bonds is payable at the banking house of
Messrs. Winslow, Lanier & Co., comer o f Nassau and
Cedar Streets, New York City, on and after March
1,1887
Columbus Hock. Val. < Toledo Railway C o .fc
General Mortgage 5s.
Columbus & Toied> >Railroad CompanySecond Mortgage 7s.
Grand Rapids & Indiana RR. Co.—
Consolidated Mortgage 5s.
Indianapolis, Ind.—
School 6s.
Indiana State—
Registered Temp. Loan Bonds,3)4 per cent.
Lima, Ohio—
Pittsburg Fort Wayne '& Chicago Railway C o .First Mortgage 7s, Series C.
Second Mortgage 7s, Series I.
Vermillion County, ind.—
County 63.
Wabash County, Ind.—
Gravel Road 6s.
MARCH 2.
Miami County, Ind.—
Gravel Road 6s.
MARCH 5.
Richland Township, Ind.—
School 6s.
MARCH 8.
Blackford County, Ind.—
Gravel Road 7s.
MARCH 10.
Vermillion County, Ind.—
Gravel Road 7s.
Wabash Countv, Ind.—
Gravel Road 6s.
MARCH 11.
Marlon, Ind.—
School 6s.
MARCH 12.
Hancock County, Ind.—
Gravel Road 6s.
MARCH 15.
Mitchell, Ind —
School 5)4s.
.
MARCH 20.
Miami County, Ind.—
Bridge 6s.
IL L IN O IS
CENTRAL
R A IL R O A D
COMPANY.
49TH SEMI-ANNUAL CASH DIVIDEND.
From the net earnings o f the year ended Dec. 81,
1886, the Directors have declared a semi-annual
dividend of THREE AND ONE-HALF PER CENT
in cash, payable March 1,1887, to stockholders of the
Illinois Central Railroad Company, as registered at
the close of business Feb. 10, 1887, The annual
meeting of stockholders will be held March 9,1887.
The stock transfer books will be closed, for the pur
poses of the above dividend and of the stockholders’
meeting, from the close of business on Feb. 10 until
March 10,1887.
E. T. H. GIBSON, Secretary.
H H I C A G O & N O R T H W E S T E R N R A ILWAY COMPANY, 52 WALL St „ New York,
Feb. 23,1887.
A quarterly dividend of ONE AND THREEQUARTERS PER CENT on the Preferred Stock of
this Company will he paid at this office on Wednes
day, March 23.
transfer boobs will close Saturday, March 5, and
reopen Friday, March 25.
M. L. SYKES, Treasurer.
Defaulted Railroad Bonds.
T O B E Y
A
4 AND 6 BR O AD
NEW
K I R K ,
STREET,
YORK.
The Philadelphia W ilm ington & B al
tim ore R .R . Co.,
Tr e a su r e r ’s
o f f ic e ,
)
283 South Fourth Street, Philadelphia. S
NOTICE TO HOLDERS Ob' BONDS DUE APRIL
FIRST, 1887.
Holders of the Bonds of this Company, amounting
to $1,000,000, maturing April 1st, 1887, are offered the
privilege, from February 1st, 1887, to March 1st,
1887, of depositing them with the Treasurer, or
with Kidder, Peabody & Co., Transfer Agents of the
Company, in the city of Boston, accompanied with
power o f attorney for transfer, to be exchanged at
maturity for the registered bonds of this Company,
issued in sums of $1,000, bearing date April 1st,
1887, due April 1st, 1917, with interest at ttie rate of
four (4) per cent per annum, payable semi-annually
at the office o f registry, and all bonds due April 1st,
1887, not so exchanged will be paid at maturity.
KOBE KT CRAVEN, Treasurer.
February 1st, 1887.
P E AM.
N E W S E C U R IT IE S TO B E ISSU E D UPON
R E O R G A N IZ A T IO N O F N EW
COM PAN Y.
FIRST MORTGAGE 50 YEARS 4 PER
CENT SINKING FUND GOLD BONDS.$20,000,000
FIRST PREFERRED STOCK................. 5,000,000
SECOND PREFERRED STOCK.............. 11,000,000
COMMON S T O C K ..............;.............
14,000,000
P R E S E N T S E C U R IT IE S .
First mortgage bondholders to receive for their
bonds and coupons 112 per cent in new first mort
gage bonds and interest at 4 per cent per annum
from Dec. 1, 1886, to date o f new bonds.
Second mortgage bondholders to reoelve for their
bonds and coupons 110)4 per cent in new first mort
gage bonds and interest at 4 per cent per annum
from Dec. 1,1886, to date o f new bonds.
Outstanding stock to pay an assessment of $10 per
share.
Preferred stockholders to receive 50 per cent of
new second preferred and the amount of assessment
In new first preferred.
Common stockholders to receive 50 per cent o f
new common and the amount of assessment in new
first preferred.
Circulars of the committ ee and copies of the agree
ment above referred to may be obtained at the office
of the Central Trust Company of New York.
All bondholders are requested to deposit without
delay their bonds with the Central Trust Company,
15 Nassau Street, New York, and receive negotiable
certificates for the same, or to present the certifi
cates now held by them to be stamped.
Stockholders, both common and preferred, are re
quested to present their certificates for stamping
and to pay their assessments on or before March 1.
F . P . O L C O T T , C h a ir m a n .
G . S. E L L I S , S ecreta ry,
15 N a ssa u S treet, N e w Y o r k *
W IL L IA M K . V A N D E R B IL T ,
First Mortgage 6 P er Cent Gold Bonds
(911$,OOO PER MILE),
JACKSONVILLE TAMPA & KEY WEST
RAILW AY COMPANY.
Issue limited to $1,556,000. Principal due 1914.
Interest payable in New York January and July.
Completed Feb. 22, 1886. Standard gauge. Steel
rails. First-class equipment.
This road forms a part of the through line from
New York to Tampa, Florida, over which the Caban
mail is now carried. We recommend these bonds as
secured by a large and rapidly increasing through
and local business. Pricey par and accrued interest.
Pamphlets and copies of mortgage furnished
R . A . L A N C A S T E R Sc CO»
1 0 W a l l S treet.
W E O F F E R FOR SALE
A LIMITED AMOUNT OF
First Mortgage 6 P er Cent Gold Bonds
OF THE
ROME
A
DECATUR
RR.
Principal payable 1926. Interest June and Decem
ber at American Loan & Trust Co., Trustee.
Issued at the rate of $15,000 per mile.
This railroad runs through the richest mineral and
agricultural portions of the States of Georgia and
Alabama, and forms a direct Western outlet for
roads centering at Rome, including the East Ten
nessee Virginia & Georgia and Georgia Central roads.
G R O Y E S T E E N Sc P E L L ,
6 6 E x c h a n g e P la c e , N e w Y o r k ,
BANKERS AND BROKERS.
JAM ES A R O O SEVELT,
J O H N S. K E N N E D Y ,
C om m ittee#
e o r g a n iz a t io n
of
the
Ph il a d e l
p h i a & READING
RAILROAD COM
PANY AND AFFILIATED COMPANIES.
Creditors and shareholders are requested to de
posit General Mortgage Bonds with Messrs. Drexel
& Co., and other securities with Messrs. Brown
Brothers & Co., under the terms of the agreement
of March 22, 1886, as modified by the plan of re
organization of December 14,1886, copies of which
can be had upon application at the respective bank
ing houses of the depositories, and at the Guaran
tee Trust and Safe Deposit Company.
General Mortgage bondholders on depositing
their bonds will receive from Drexel & Co. en
graved certificates now negotiable at the Stock
Exchange and the Interest now due under the
plan.
For all ether securities Temporary receipts will
be issued by Brown Brothers & Co., exchangeable
for engraved certificates (as soon as they can be
prepared), to be made negotiable at the Stock Ex
change, entitling the holder to the new securities
after reorganization.
The cash subscription will be called for in instal
ments of twenty-five per cent each and thirty days’
notice by advertisement will he given prior to each
call.
Creditors and shareholders are given until March, 1,
1887, to accept the provisions of this plan.
In case a reorganization without foreclosure can
not he effected, then aU parties who have failed to
deposit wnder the plan by March 1, 1887, will be ex
cluded from aU participation m the reorganization
by foreclosure, which iif there be sufficient deposits
to satisfy the Trustees), will then be brought about
immediately, and for the benefit of those only who have
deposited.
JOHN B. GARRETT,
Chairman Reconstruction Trustees,
Deposits of General Mortgage Bonds will be re
ceived by DREXEL, MORGAN & CO., and all other
securities by BROWN BROTHERS & CO., New
York.
R
R. T . Wilson & C o.,
BANKERS AND COMMISSION M ERCHANT,
2 E x c h a n g e C i> urt, N e w Y o r k .
G a s, In su ran ce, B a n k s, C ltv R a ilr o a d s ,
A c . Send for list published Mondays.
J , i\ W IN T U I S G H A ;r, 3 6 F in St.- N. Y .
THE CHRONICLE,
vi
[ V ol.
^ fin a n c ia l.
J tx strra u cp .
FORTY-FIRST
X L lv.
AN N U A L
STATEMENT
Henry S. Ives & Co.,
BANKERS,
OF THE
No.
25
N ASSAU
S T ., N E W
YORK,
P. O. B OX 1,422.
CONNECTICUT
L
I
I
F
MUTUAL
E
INSURANCE COMPANY,
Transact a general banking business, ineluding the
purchase and sale of securities listed at the New
York Stock Exchange, or in the open market.
Receive deposits subject to check at sight and
allow interest on daily balances.
Government, State, County, City and Railroad
bonds constantly on hand for sale or exchange, and
particular attention given to the subject of invest
ments for institutions and trust funds.
A . D . Middleton,
OF
(Late of M id d l e t o n & Co., Exchange Place, N. Y.)
HARTFORD,
CONN.
INVESTMENT SECURITIES,
10 W A L L
N et A ssets , January 1 ,1 8 8 6 .................................... .................................................... $52,942,452 10
R eceived in 1886—
For Prem ium s....................................................................................... $4,464,543 67
For Interest and R e n t s ......... ......................... .................................. 2,813,180 03
Profit and loss........................................................................................
147,282 92
---------------------7,425,006 62
_____________
$60,367,458 72
Loans made on Bond and Mortgage in Minnesota
and Dakota at 7 and 8 per cent per annum.
^
8
0
, 0
S . A . K E A N A C O .,
Room 7, United Bank Building,
Cor. Broadway and Wall St.
H o te ls .
Fifth A v e n u e
HOTEL,
6,296,268 90
B alance N et A ssets , December 3 1 ,1 8 8 6 ...............................................................$54,071,189 82
M adison Squ are,
OF
0
Registered by State officials. Taxes collected and
payment made by State Treasurer.
I Full particulars apply to
D IS B U R S E D IN 1SS6.
SCH EDULE
0
Illin ois 6 P er Cent Drainage Bonds.
F or claims b y death and matured endowments . . . . . $3,513,021 84
Surplus returned to p olicy -h old ers...................... .
1,189,131 71
Lapsed and surrendered policies..................................
582,847 09
T otal to P olicy H olders ........................... ........................... $5,285,000 64
«Commissions to agents, salaries, m edical examiner’s fees, printing,
advertising, legal, real estate, and all other e x p e n se s................
689.352 05
............ ............
321,916 21
T axes
. ........................... .
----------------------
STR EET, N EW YORK.
ASSETS.
Loans upon real estate, first lien........................................................................................ $29,445,320 17
Loans upon stocks and bon ds.............................................................................................
385,933 00
Premium notes on policies in fo rce ...................................................... - .................. .........
2,257,210 24
Cost o f real estate owned b y the com pany....................................................................... 10,311,817 86
Cost of United States and other bonds................................................................ ............
9,850,199 00
Cost o f bank and railroad stocks.................................... ...................................................
400,451 00
Cash in bank andj office....... ................... .................................- .......................................
1,413,982 12
Balance due from agents............................................................. .......................................
6,276 43
$54,071,189 82
A dd —
Interest due and accru ed.............................................. ...............................$994,478 82
Rents accrued...........................................................................................
12,570 65
Market value o f stocks and bonds over o o s t ............................................ 545,426 55
N et deferred p rem iu m s.............................................................................
78,828 10
*
N E W YORK,
The Largest, Best Appointed and Most Liberally
Managed Hotel in the City, with the Most Central
and Delightful Location.
HITCHCOCK. DARLING & CO.
Bible Hotel,
AM STERD AM , HOLLAND.
Beautifully situated in the centre of the city, close
to the Railway Station and the Exchange. First
rate cooking. Excellent wines. Moderate prices.
W. P. WERKER, Manager.
Massasoit
House,
S P R IN G F IE L D , M ASS.
THE BEST APPOINTED HOUSE IN WESTEBN
NEW ENGLAND.
1,631,304 12
Convenient for the tourist or business man. Neu
Union Depot.
w . H . C H A P IN .
GROSS A ssets , December 3 1 ,1 8 8 6 ...............................................................................$55,702,493 94
L ia b ilitie s :
A m ount required to re-insure all outstanding policies, net, assum
ing 4 per oent interest............................ .................... ..... ........ $ 4 9 , 6 7 7 , 2 1 0 00
A dditional reserve b y Company’ s standard, 3 per oent on policies
issued since April 1 ,1 8 8 2 ............................ ................................
183,137 00
A ll other lia b ilitie s .................................................................. ..............
783,040 54
---------------------- 50,643,387 54
S urplus b y Company’ s standard .....................
S urplus b y Connecticut standard, 4 per oent.................
$5,059,106 40
$5,242,243 40
Ratio o f expenses o f management to receipts in 1 8 8 6 ...............................................
9 -28 per cent.
Pedicles in force December 3 1 ,1 8 8 6 , 63,027, in su rin g ....... ...................... ............... $150,528,922 89
fP tm tx jc ia X *
J o h n G. M o o r e ,
w
. K . K it c h e n .
G. b . Schley
Moore & Schley,
26
BANKERS AND BROKERS,
B R O A D S T R E E T , N E W YORK*
B r a n c h O f fic es :
72 W all St., N. Y.
114 So, Third St., Phila.
Connected with
I. A. EVANS & Oo., Boston,
Co r s o n & m a c a r t n e y , Washington, D.C.
E. L. B r e w s t e r & Co,, Chicago.
H u b b a r d & f a r m e r , Hartford.
Private Wire Connections.
Buy and sell Stocks, Bonds and Miscellaneous
Securities on New York Exchanges; also Grain and
Provisions on Chicago Board of Trade,
J A C O B L . G R E E N E , P resid en t.
J O H N M . T A Y L O R , V ice-P resid en t.
W I L L I A H G . A B B O T T , S ecretary.
D . H . W E L L S , A c tu a ry .
P H IL IP
S.
M IL L E R ,
G e n e r a l A g e n t fo r N e w Y o r k City, L o n g Isla n d a n d Y e w J ersey,
1
W ALL
STREET,
COR.
BROADW AY,
NEW YORK CITS',
Spencer Trask & Co.,
B A N K E R S <6 BR O K E R S ,
16 an 18 B ad Street, N V
d
ro
. .
Albany, N.Y.
Providence, R. I.
Saratoga.
Transact a General Banking Businessi
Direct Private Wires to each office and to
PHILADELPHIA.
BOSTON,
WORCESTER.
HUNT’S
MERCHANTS’
%
MAGAZINE,
§ jk u T 0 p a p « v ,
representing the industrial and commercial interests op the united states .
VOL. 44.
SATU RD AY, FEBRUARY 26, 1887.
C O N T E N T S .
T H E CHRONICLE.
Clearing-House R etu rns........ 255 The St. Paul & Omaha’s Oper
ations...............
262
The Financial S itu ation ....... . 256
The German E le ctio n s...............263
Mr. Fink’s Interpretation o f the
Railroad Earnings.......................264
Inter-State Commerce B ill.. 258
M onetary and Commercial
Milwaukee & St. Paul’s Late
English N ew s.......................... 264
260
Year....................
Parliamentary Failures...........261
Commercial and Miscellaneous
N e w s ...........................................236
3£ke (E f a v tm itU .
and F in an cial C hronicle is published in
New York every Saturday morning.
The Commercial
[Entered at the Post Office, New York, N .Y ., as second class m ail matter.]
Terms o f Subscription—Payable in A dvan ce:
For One Y ear (including postage).......................................... $10 20
For Six Months
do
................ ..........................
6 10
European Subscription (including p osta ge)........................ 11 28
Annual subscription in London (including p o s ta g e ). . . . . . £ 2 7s,
Six Mos.
do
do
do
......... £ 1 8s.
These prices include the I nvestors ’ Supplem ent , issued once in tw o
months, and furnished w ithout extra charge to subscribers o f the
C
hronicle .
A neat file cover is furnished at 50 cen ts; postage on the same is 18
cents. Volumes bound fo r subscribers at $1 00.
Subscriptions w ill be continued until definitely ordered stopped. The
publishers cannot be responsible fo r remittances unless m ade b y Drafts
or Post Office M oney Orders.
NO. 1,131.
Week Ending Feb. 19.
1887.
1886.
Week Ending Feb. 12.
Per Cent..
New York.............
Sales of—
(Stocks.. ..shares.)
(Cotton....bales.)
(Grain...bushels)
(Petroleum..bbls.)
*637,901,508
*683,469,848
(1,546,198)
(267,700
(40,016,000;
(26,448,000)
(2,436,949)
(672,800)
(18,645,000)
(91,966,000)
(—36-6)
(-60-2)
(+114-6)
(-71-2)
Boston.................
Providence...........
Hartford...............
New Haven..........
Portland...............
Worcester...........
Springfield............
Low ell................ .
*82,436,596
4,723,400
1,724,705
1,041,917
848,800
791.160
782,698
527,281
*76,530,248
4,230,700
1,662,818
968,369
746,329
743,950
760,795
510,618
+7-7
+11-6
+3'7
+76
+13-7
■+6-3
+2 9
+3-3
-6-7
1887.
$665,080,648
Percent
-6-9
(2,290,722) (-11-7)
(373,500) (-43-9)
(89,500,000, (+88-7)
(34,320,000) (-55-6)
*«0,981,717
4,413,300
1,503,693
1,239,967
858,768
884,065
814,018
502,454
-0 -7
+3-4
-9-1
+81-9
+13-0
+13-4
-3 -7
-5 -5
Total N. England
*92,876,057
*86,163,827
+7-8
*87,287,982
-0 1
Philadelphia........
Pittsburg..............
Baltimore............
*57,734,904
8.754,170
11,812,888
*57,624,500
7,322,096
12,956,274
4 0-2
4-19-6
-8-8
*53,737,799
9,387,402
10,676,395
+10-4
+27-7
—14-4
Total M iddle....
*78,301,462
*77,902,870
+0-5
*73,801,598
+7-7
Chicago...............
Cincinnati............
Milwaukee............
Detroit.................
Indianapolis.........
Cleveland.............
Offices In E n g la n d .
Columbus.............
The offioe o f the Com m ercial and F inancial Ch ronicle in London
Is with Messrs. E d w a r d s & Sm ith , 1 Drapers’ Gardens, E. C., where sub Peoria...................
scriptions and advertisements w ill be taken at the regular rates, and Omaha..................
single copies o f the paper supplied at Is. each.
Minneapolis.........
The offioe o f the Chronicle in Liverpool is at 5 B row n’ s Buildings, E x Denver.................
change.
St. Paul ...............
WILLIAM B. DANA. W I L L I A M f t . D A N A Sc C o ., P u b lis h e r s , Grand Rapids......
7 9 Sc 81 W i l l i a m S tree t, N E W Y O R K .
JO N G. FLOYD.
H
P ost Off ic e B o x 958.
Total Western...
*48,197,946
11,881,750
3,454,042
8,512,586
2,484,365
3,114,075
1,644,181
965,305
2,250,736
2,728,442
3,505,154
3.456,693
896,624
*39,326,505 +22 6
8,796,150 +35-1,
2,887,140 +19-6
2,948,396 + 191
1,077,102 +180-6
1,877,947 +65-8
1,493,013 +10-1
629,684 453-3
1,373,009 +63-9
2,040,224 +33-7
3,039,260 +15-3
2,153,325 +60-5
400,584 —10
*14,873,971
10,737,850
4,481,025
3,390,027
3,010,530
8,609,578
1,006,385
909,207
2,297,436
2,846,606
3,403,341
3,214,670
+7-6
+21-Ô
+57-6
+11-4
+158-5
+68-1
+3-2
+20-9
+88-1
+17-2
+0-4
+37-e
*37,591,809
*68,042,339
+287
*84,477,295
+19-4
St Louis...............
St. Joseph..........
New Orleans.........
Louisville.............
Kansas City.........
Memphis..............
Galveston.............
Norfolk...........
*15,918,848
1,164,678
9,210,676
5,319,886
7,862,677
2,321,294
930,969
877,839
*13,695,454
848,408
8,988,347
4,079,542
4,201,868
1,612,747
1,249,495
861,508
+16-2
+37-3
42*4
4 30-4
487-1
+43-9
-25-5
+1-9
*16,700,095
891,873
10,104,705
5,798,399
7,031,999
2,408,875
1,151,434
915,010
+18-0
—10
+2*1
+29-8
+61-8
+75-1
-24-5
-2 '7
+17-7
C L E A R IN G
H O U SE
RE TU R N S.
During the week under review the speculation on the New
York Stock Exchange has been characterized by dulness and
the aggregate of the transactions records a considerable falling
off from the total for the prev ious week. The result is a de.
cline in exchanges at New York, as compared with the week
ending February 12, of a little in excess of twenty-seven mil
lions of dollars. Gains at other points, however, serve in par^
to offset this decrease, so that in the aggregate for all the
cities the loss from last week reaches only $14,999,886. The
increase this week at Boston is not attributable to operations
in stocks (their volume having been less than a week ago),
while the gain at Chicag o is due to other than speculative in
fluences. Through the courtesy of the manager of the clear
ing house at Gr and Rapids, that city is now, and will here
after be, embraced in our report. The present week’s return
from Omaha would indicate that heretofore the clearings have
been reported double.
Instituting comparison with the corresponding week of 1886
we find that in the aggregate there is a decline of 1*3 per cent.
This decrease is due, as in previous weeks, to the smaller
dealings in stocks at New York now than a year ago, for the
clearings outside of New York exhibit an excess of 11 ’9 per cent.
As regards stock speculation, the transactions on the New
York Stock Exchange cover 1,546,198 shares for the week of
fbis year against 2,436,949 shares for the similar period of
1886. The market value of these sales has been respectively
$71,589,000 and $144,525,000, and after deducting two-and-ae values from the New York totals, the ex
changes arising through other business exhibit an increase this
Total Southern..
*18,606,867
*35,537,364
422-7
*45,008,990
San Francisco......
*10,848,561
*12,140,049
—10-6
*10,529,729
-2*4
Total a ll............
Outside New York
$951,186,354
$313,224,846
*963,246,297
*279,776,449
—1-3
+11-9
*966,186,210
*301,105,592
—2'4
+9S
Our usual telegraphic returns of exchanges are given below.
In consequence of the intervention of Washington’s Birthday >
•
the figures cover only four business days, and compare with a
similar period in 1886. New York records a decline from a
year ago of 17*4 per cent, but for the other cities the aggregate
gain is 16’7 per cent, so that in the whole country the loss
reaches only 7 per cent.
Fins Days Ending Feb. 25.
1887.
1886.
Per Cent.
5 D’ys End'g Feb. 18.
1887.
PerCent.
New York.........
Sales of Stock (sks.)
Boston..................
Philadelphia.........
Baltimore.............
Chicago.................
St. Louis............
New Orleans.......
*392,520,106
(1,043,834)
58,423,755
45,397,556
9,932.976
35,076,000
12,623,017
6,087,360
*475,006,842 —17-4
(1,281,222) (—18-5)
55,867,^24
+4-6
37,242,552 +21-0
8,382,759 +18-5
29,444,000 +191
10,538,408 + 19-8
-4 0
6,379,508
Total...............
Balance, Country*
*560.060,770
74,943,581
$622,951,888
59,983,735
+10-1
4-24-9
*735,008,718
74,505,734
—1-1
+25-6-
Total all..........
Outside New York
*635,004,351
*242,484,245
*682,935.623
—70
*207,838,781 " T ie 7?
*809,514,462
*265,139,688
+0-0
+13G
* Estimated on the asís of the last weekly returns.
*544,374,764
-4-1
(1,345,805) (—
37-0)
09,970.554
+10-0
48,829,014
-0-03
—11-9
9,749,325
40,320.000
+28-2
13,539,680
+17-58,212,781
+3-7
256
THE CHRONICLE.
[VOL. H I V .
followed the result of the elections for the German ParliaTH E “IN V E S T O R S ' S U P P L E M E N T
The I n v e s t o r s ’ S u p p l e m e n t will hereafter be issued on ment which has had a favorable influence, being generally
the last Saturday in January, March, May, July, interpreted as at least making war less probable and thus
September and November. This is merely a change in affording a feeling of relief at all European capitals. The
the months of issue for the convenience of the publication easy rates for money at London notwithstanding the
improving business, is most likely due to the strengthened
office.
The next issue o f the S u p p l e m e n t will therefore be on position o f the Bank o f England. B y special cable to us
Saturday,' March 26, instead of Saturday, Feb. 26, as we learn that the increase o f bullion by the Bank which
is reported this week at £513,000 was made up by
under the form er arrangement.
an import principally from France of £152,000, and by
receipts from the interior o f Great Britain of £361,000.
T H E F IN A N C IA L SITU A T IO N .
This leaves the bullion in the Bank o f England at £23,075There has been no very material change in money the
396, against £18,820,089 December 29, 1886.
past week. On call, so far as represented b y bankers’
Our foreign exchange market has been variable this
balances, the average is about 3£ per cent with the
week. The nominal rates were advanced half a cent per
extremes 5 and 2 per cent. F or time loans the demand
pound on Monday, though the rates for actual business
has been a little more urgent and the rate a shade better,
were reported no stronger really than they were on Sat5 per cent being bid for ninety days to four months on
urday. On W ednesday the tone became easier, and on
good security embracing all the active stocks but not the
Thursday the nominal rates were reduced £ a cent per
few fancies ; the latter being subject to occasional sharp
pound, while those for actual business fell off in propor
fluctuations are regarded as undesirable for collateral and
tion. Although the rates o f exchange were fractionally
are carried at higher than the current rate. In com
below the gold exporting point, there was a withdrawal
mercial paper the feature is the absence o f demand from
last Saturday from the assay office o f $319,000, on Mon
city banks while the supply o f desirable names continues
day o f $400,000, and on W ednesday o f $635,000, making
very good. Some failures during the last two or three
$1,354,000, for shipment to Berlin. This was a special
weeks in the dry goods trade, with the liabilities large,
operation, and could have been remitted for with
may be in part responsible for the less active demand,
exchange, but the party to whom it was sent desired the
though there is ample reason for believing that the finan
gold. One fact may be here noticed, that the Bourgogne,
cial condition of the trade is sound. A t all events rates
which arrived on Saturday, brought 276,486 francs in
Are hardening, 60 to 90 days endorsed bills receivable
gold, but this, o f course, was not an exchange operation
being quoted at 4£@ 5 per cent, and first class commission
either. Mr. Switzler, o f the Bureau of Statistics, issued
house names 5 @ 6 per cent.
his January foreign trade figures on Thursday, according
A s to the supply o f loanable funds, it is to be said that
to which it appears that there was an excess in favor of
the drain to the interior which began three weeks ago,
the United States o f $19,574,000 in the merchandise
though moderate, is still in progress ; and so far as the
movement for that month, against $10,573,000 in Jan
W est is concerned, it seems likely to continue, since active
uary, 1886. The full figures for January for six years
employment for money in trade channels is reported from
are as follows.
that section. W h at will be the net Government m ove
FOREIGN TRADE MOVEMENT OF THE UNITED STATES—(O O Omitted,)
Os
ment is a problem on which scarcely any light can be
thrown at present. The drain from the banks into the
Go l d .
Si l v e r .
M e r c h a n d is e .
Excess
Treasury for duties and taxes will undoubtedly be an
Excess Im
Tear.
E x Excess Ex
Im
Exports. Imports. of Ex ports. ports.
of
ports. ports. of Ex
increasing item, and the passage by Congress of anything
ports.
ports.
Imports.
like a funding bill so as to afford an easy way for freely 1 8 8 2 .
%
t
$
$
$
$
$
$
$
1,032 2,182
534 1,648
102
returning to the channels o f commerce the accumulating J a n ....... 64,921 56 ,9 5 6 7,905 1,134
1883.
34
1,278 2,518
895 1,023
surplus, appears at this late date wholly improbable. J a n . . . . 8 0,380 56,971 23,409 1,310
1884.
W ith regard to the expectation of enlarged disbursements, J a n ....... 73,990 54,311 19,079
525
154
871 2,314 1,163 1,151
through increased appropriations, until the adjournment 1 8 8 5 .
J a n ....... 80,533 42,221 38,312 2,075 1,446
629 2,229 1,093 1,136
o f Congress nothing definite can be said, though a pos. 1 8 8 6 .
J an ....... 57,988 47,415 10,573 1,708 2,582
*876 2,907 1,023 1,884
sible source is now shut up by the fortunate defeat of the 1 8 8 7 .
724
J a n ....... 71,530 51,958 19,574 3,396
629
2,767 1,916 1,192
attempt to override the President’s veto o f the “ pauper
* E xcess o f exports.
pension bill,” while any of the ordinary appropriations,
In February last year there was an adverse merchan
such as for harbor defence and for building war vessels,
could have little influence until many months hence. dise balance o f $4,782,000, with a net gold export of $4,There is a bond call for $13,887,000 of the 3 per cents 668,000. The net trade movement this February must
issued January 22d, maturing March 1, and on the 21st have been somewhat better, notwithstanding the imports
inst. $10,007,750 m ore were called, maturing A pril 1st; will show some increase.
but those calls have not hitherto afforded much immediate
On another page we indicate some of the differences
relief, and do not promise any better now. Small denom that now exist in railroad rates, and the principle controlinations of silver certificates will however continue to ing those differences, and then point out how obviously
increase, and this is a resource not to be forgotten, though difficult, in view of this state of things, is the position of
a fact which modifies that dependence also, is the inflow the railroads in their efforts to conform tariffs to the
o f the displaced silver dollars which for three months now requirements of the Inter-State law, especially as many of
the provisions of that law are so obscure. It would cer
the issue o f the small certificates has been causing.
By cable it is reported that discounts o f 60 day to 3 tainly seem as if in that enactment the railroads had been
months’ bank bills in the open market London are at 3£ given enough embarrassment for the present, but appar
per cent with the Bank minimum still at 4 per cent. A t ently the spirit o f hostility has not abated a jot, and they
Berlin and Paris the open market rate is reported at 2£ must be prepared to encounter other vexatious legislation.
per cenf. which is a reduction o f £ of 1 per cent at the The State legislatures are undertaking to follow up
first vi ned centre
nee last week , this rec u c' jn has the
.ktional enac nent wi;a*
little a u i i .;: nal law
F e b r u a r y 26, 18b7.]
THE CHRONICLE.
257
th e ir own account.
Alm ost every day we hear o f an j course remain unchanged, namely, $ 1 ,1 8 4 ,3 8 0 , and as the
on
ittempt in this or that State to engraft the provisions of | 1st coupon on this issue does not fall due till June 1, 1888,
the Inter-State bill on State law. But we think it was practically the whole of the present year’s net earnings
reserved for Minnesota to display the crudest and most will be available for improvements, in addition to which
surprising piece o f legislative folly ever conceived. There there will be the $3,216,460 o f cash furnished by the assess
it is sagely and seriously proposed to reduce all rates, ments cn the stock. W e may say that the gross earnings
through and local, 20 per cent A pril 1, from the figures o f the road for the month of January, just reported, show
prevailing the 1st of January. H ow would the farmer or an increase of $ 118,141 as compared with 1886, and of about
the manufacturer like it if he were peremptorily ordered $205,000 as compared with 1885.
Like nearly every other road, the Pennsylvania makes
to reduce the selling price of his products one-fifth. Y e t
such a course would be no more arbitrary or unreasonable, for January an excellent exhibit o f earnings. On the
and would probably prove less harmful than this proposed Eastern lines there is a gain o f $430,235 in the gross, and
reduction in rates, for we are safe in saying that o f $262,810 J in the net, while the W estern lines show a
hardly anywhere is business carried on at so small a surplus above liabilities in amount o f $222,361, against a
margin of profit as in the line o f railroad transportation. deficit below the liabilities in the previous year o f $133,favor o f the present year
The only justification we have seen offered for the attempt 687, the difference in
in question, is, that the price of wheat ha3 now been thus being $356,048. In other words on the com
steadily declining for four or five years. Yes, but rail bined system, net results this year are $618,858 better
road rates have been declining for five-and-twenty years, than last year. Of course the weather was in favor o f the
and competition in this field is more active and more virulent roads in 1887 and against them in 1886, but this was much
than it ever has been or ever will be among wheat-growers. less of an influence in the East than in the W est. More*
But what would be the effect of a 20 per cent reduction over, it will be noticed that the gain in the net on the
in rates? The cost of operating we know is down to a Eastern system is not the result o f lower expenses,
minimum; therefore any loss in gross earnings is practi as would be the case if the improvement were due sim.
cally a loss in net. Hence if a road is operated at 60 per ply to the difference in the cost o f operating caused b y
cent, a 20 per cent reduction in rates means the loss o f 20 the comparative absence o f snow and ice. On the con
of the 40 per cent o f net earnings. In a word, net earn trary the operating expenses increased $167,425 on last
ings would be reduced just one-half. In a subsequent year (after an increase then, too), and are larger than
article we give the net of the Chicago Milwaukee & St. ever before in that month. The increased net, then, is the
Paul for the late calendar year, which stands at $10,158,- result of heavier gross, indicating a greater amount o f
139. To reduce this one-half would be to cut it down to business done. This latter indeed is the most satisfactory
$5,079,069. Interest charges alone in this year were feature o f the return, namely that in harmony with the
business conditions prevailing, the company’s traffic is
$6,241,093, and will be greater still the preaent year. A
large deficiency would of necessity exist, and the road be steadily expanding. The gain of $430,235 in the gross
forced into bankruptcy. It seems inconceivable that leg this year comes after a gain of $144,014 in 1886, thus
islators cannot understand that railroads are conducted making a total increase o f $574,249 in the two years, and
on the same principles, as to profits, as all other industries, while undoubtedly a large part o f this may be ascribed to
and that by taking away the inducements in that respect the better rates obtained, a good part of it also comes from
the very life of the railroad system is threatened. The an increase in the volume o f traffic. O wing to the heavier
science of railroad operations, in ifs entirety, is a very expenses, the net does not make as good a showing as the
complex one, but this simple rule of business ought to be gross, so that while the latter is only $77,586 below the
heaviest previous total in that month (namely in 1883),
within the comprehension o f the dullest.
It would appear that negotiations between the income the net is $256,707 below the aggregate then. The fo l
bondholders o f the Texas & Pacific and the Wistar- lowing is a comparison o f results on both Eastern and
Fleming committee have reached a point where a com W estern lines for six years.
promise has about been arrived at. A s a result of this
1882.
1884.
1883.
1885.
1887.
1886.
JANUARY.
compromise, the income holders are to get the lands and
$
*
Pennsylvania.
i
$
t
$
60 per cent in new series B bonds, instead o f only 40 per Gross earnings..... 8,851,771 3,421,536 3,277,522 3,574,233 3,929,357 3,873,321
2,637,420 2,469,995 2,286,948 2,408,097 2,458,299 2,299,055
Oper. expenses.....
cent as originally proposed. Irrespective o f the merits of
990,574 1,166,136 1,471,058 1,074,266
Net earnings...... 1,214,351 951,541
their claim, a settlement is to be received with favor as Western lin es...... +222,361 —183,687 —42,807 —110,585 +221,810 +42,748
Result................ 1,436,7121 817,854 947,767 1,055,551 1,692,868 1,117,014
removing the only obstacle remaining to a reorganization
Tnis shows that the present gain in the net marks the
of the road. One after another the difficulties surround
first recovery from the fall which previously had been in
ing various railroads are thus disappearing. The Reading
reorganization seems now an assured fact, Mr. Gould has progress in that month ever since 1884, and the recov
settled with the scrip holders o f the Missouri Kansas & ery has been so pronounced that the net is now the great
Texas, and the plan on which the Nickel Plate is to be est of any year since 1883. On the W estern lines the
reorganized, is known. A s to the Texas & Pacific, the 20 recovery is j ust as marked, for the present surplus is the
per cent additional to be given the income bondholders first since 1883, and it is larger than in any other year
will not necessitate any change in the total amount of since 1881. On the combined system the result is $1,436, the bond issues of the new company.
These will 712 profit this year, against only $817,854 in January,
remain at 25 millions of first mortgage series A and 25 1886, an increase of 75 per cent, and this total o f $1,436,millions of 2nd mortgage series B bonds, the latter bear 712 compares with $947,767 for 1885, $1,055,551 for
ing interest only if earned. The difference will be in the
amount of the latter class o f bonds remaining on hand un
used. There are $8,123,000 o f income land grants, and
20 per cent on ths-i would take $1,624,600 more o f the
uew series B. A s the amount to be left c c ;r on the
original basis was $3,367,404, this would dimmish it to
$1,742,804. The reserve o f 1st mortgage bonds will of
1884, and $1,692,868 for 1883.
The stock market has shown a little more strength this
week, especially the last half of the week, since the news
o f the result of the German elections was received. That
e v .'it being interpreted as favoring a continuance of peace
in. Europe, encc raged the b lief that the purchase c2
American securities for European account weuld seen be
258
THE CHRONICLE.
[V o l.
XLIV,
resumed. Besides that, the near approach o f the adjourn
Included in the above payments were $6,500 in silver
ment o£ Congress, the improbability o f any adverse legis coin, chiefly standard dollars.
lation respecting the Pacific railroads, the continued fav.
orable returns of earnings received and published, and
the satisfactory settlements of the differences relating to
roads being reorganized, noted above, all have tended to
strengthen the growing confidence. A t the same time
there is a matter of no little uncertainty which is keeping
the public in some measure out of the market, and that is
the unknown effect of the Inter-State-Commerce bill,
which so soon goes into operation. W h at it means, how
it will change rates and earnings, and how much friction
there will be in setting it in motion, are as doubtful p rob
lems now as they were the day it was passed.
The following statement, made up from returns c o l
lected by us, shows the week’s receipts and shipments o f
gold and currency b y the New Y o rk banks.
MR.
F IN K 'S IN T E R P R E T A T IO N O F THE
I N T E R S T A T E COMMERCE BILL.
The leading question at present agitating railroad
circles is— what does that marvelously crude piece of legislation called the Inter-State Commerce bill mean ? Of
course Congress should have removed its obvious ambigui.
ties, but it did not; it only showed in the discussions had,
that they existed, and it is no surprise when Senators who
took part in framing the act construe its vague sentences
so differently, that they should prove a puzzle to the
people too. Our railroads would like to anticipate the
enforcement of the law so far as possible, by conforming
their methods at once to its requirements, and in their
efforts to that end they have shown commendable zeal.
But the same difficulty meets them— even their counsel
Received by Shipped by
Net Interior
failing to satisfy themselves as to the correct interpretation.
Week endino February 25,1887.
N. Y. Bankt. N. Y. Bank».
Movement.
The most important questions raised are those which
1722,000 3 *1,565,000 Loss.... (843,000
we discussed when the conference bill was before Con
Q 0w r...i...........................................
»1,565,000 Loss__ (843,000 gress, with reference to the long and short haul charges
(722,000
Total sold and lesa! tendere......
and the through rates. These matters are mainly regu
The above shows the actual change in the bank hold
lated by the 2d and 4th sections o f the act, and Mr. Albert
ings of gold and currency caused by this movement to and
Fink has recently written an elaborate and excellent
from the interior. In addition to that movement the
opinion with reference to the duty of the railroads under
banks have lost $2,800,000 through the operations o f the
Sub-Treasury and $1,354,000 by exports of gold. A dding them. H e shows, however, like every one else who has
studied the provisions, how embarrassing because of their
these'item s to the above, we have the following, which
uncertainty the issues he raises are. If, for instance, the
should indicate the total loss to the New Y o rk Clearing
railroads should interpret them according to Senator W il
House banks of gold and currency for the week covered
son’s speech, the whole commerce of the country would be
b y the bank statement to be issued to day. It is always
to be remembered, however, that the bank statement is a thrown into confusion and the roads would be charged
with striving to make the law odious ; while on the other
statement of averages for the week whereas the figures
hand if they interpret them and therefore regulate their
below should reflect the actual change in the condition of
charges wrongly, even though it be with the utmost goo d
the banks as between Friday of last week and Friday of
faith and best of intentions, they are liable to innumerable
this week.
actions daily in behalf o f each individual harmed, with a
Into Banke. Out of Banke. Net Change in
judgment against them, not only for damages but also for
Week endino February 25,1887.
Bank Holdings.
costs with “ counsel fee ” added. Hence every shrewd
1722.000
(1,565,000 Loss.. (843,000
Banka’ Interior Movement, as above
3.100.000
7,254,000 Loss.. 4,154,000 pettifogger in the land is frem this time forth offered the
Snb-Treas. operat’sand gold exp'ts.
(3.822,000
(8,810,000 Los t 0 1 ,000 premium of a comfortable income, a profitable business, if in
Total gold and legal tenders—
The Bank of England gained £513,000 bullion during this matter he can catch the railroads in the wrong.
His
the week. This represents, as stated above, £152,000 operations would probably be carried on through irresponnet received from abroad and £361,000 from the interior. sible parties as plaintiffs, since the railroads pay his bills if
The Bank of France shows an increase o f 2,275,000 he succeeds, and if he fails costs could not be collected from
francs gold and o f 2,525,000 francs silver.
The folmere dummies. A nd yet, be it remembered, the railroads
lowing indicates the amount o f bullion' in the principal must run their trains, and on some basis take passengers
European banks this week and at the corresponding date and freight when offered.
last year, the figures being expressed in pounds sterling.
‘ Such is the nature o f the embarrassments which hang
over the whole carrying industry of the land to-day, and
Feb. 24, 1887.
Feb. 25,1886.
which Mr. Fink strives to remove. W e have read his
Gold.
Gold.
Silver.
Silver.
opinion carefully, and though like everything he writes it
A
&
£
A
is forcible and plausible, and may and should prevail in
22,991,670
Bank o f England
. . . . 23,075,396
Bank o f France . . . . . . . . 48.943,870 45,853,125 47,660,159 43,715,508 the courts, no one can hesitate a moment in saying that
Bank o f Germ any............ 19.705,400 17,474,600 18,663,950 16,551,050
his view is simply the railroad view, and not at all the
Total this w e e k ............... 91,724,666 63,327,725 89,315,779 60,266,558
object or idea of the people who started the agitation
Total previous week — 91,120,128 63.885,976 88,013,186 59,776,517
which resulted in this legislation. H e claims, however, as
The Assay Office paid $106,926 for domestic bullion
Senator Cullom claimed, that the first section, which
through the Sub-Treasury during the week, and the A s
directs that the rates be “ just and reasonable,” controls
sistant Treasurer received the follow ing from the Custom
the whole act; and then he defines the words “ under
House.
‘ ‘ substantially similar circumstances and conditions” in
Consisting of—
the second and fourth sections, as meaning any cir
Duties.
Date.
IT.S.
Gold
Silver Cer
cumstances which “ legitimately influence the relative
Gold.
Notes.
Certifie’s.
tificates.
“ charges;” and these again he defines “ as not only the cost
*503,594 97
$2,000
$85,000
$363,000
Feb. 18.
$52,000
419,636 57
1,500
110,000
“ 19.
251,000
59,000 “ o f the service, but competition and all other conditions
657,093 83
2,000
143,000
« 21.
436,000
75,000 “ legitimately influencing transportation charges” * * *
......... H oli d a y ..........
“ 22.
1,177,510 81
2,500
136,000
« 23.
939,000
49,000 “ competition with water routes, competition with rail467,863 93
2,500
« 24.
88,000
340,000
56,000 “ roads, competition between markets, &c.”
In other
T otal.
$3,245,700 11
$10,500
$562,000 $2,379,000
$291,000
words Mr. Fink concludes that “ a condition o f rates
February 26, 1887. J
259
THE CHRONICLE.
Dist.
miles.
«just and reasonable.”
This same view as to reasonableness o f existing rateg
we find very cleverly set out in a little book* issued within
a few weeks and written by General Alexander, lately
elected President o f the Georgia Central Railroad. His
book, o f course, was written before the passage o f the act,
being in reality a criticism o f that kind o f legislation. W e
have not space to follow, except very briefly and im per
fectly, Mr. Alexander’s thought, but as his idea and facts
illustrate the force o f Mr. Fink’s argument, it is especially
timely and interesting to refer to it. H e starts b y show
ing that the “ value of the services rendered ” is and must
be the basis o f railway tariffs, and that in the application
of this principle we have in practice rates affording not to
exceed a reasonable profit to the carrier as a maximum
with reductions from that point to what the traffic will bear
as a minimum. None o f these discriminations made b e
tween places are, however, the result o f a wish on the
part of railroads to discriminate, but arise out o f the fact
that nature has discriminated by giving the river town
natural transportation and thereby discriminated against
the inland town by making it dependent w holly upon arti
ficial transportation. So “ ¿he value o f the service” which
a railroad can render differs at different places, the rail
road being in fact built only for the inland party, and it
sells its surplus power to the maritime party at any price
it will bring.
This idea Mr. Alexander illustrates by taking New
York and San Francisco, which have perpetual water
transportation for freights from one to the other, slow to be
sure, but very cheap. N o one, he says, would ever dream
of building a railroad between those cities for the sake o f
the through business it could get in competition
with the ocean. But between them lie wide stretches of
land against which nature has discriminated in the matter
of transportation, while endowing them with great and
varied wealth in agricultural, mineral and other re
sources. Nature’s discrimination was so heavy that only
narrow margins o f this vast territory could be utilized,
and to overcome this discrimination railroads were built
into the interior in every direction. Thus thirty years ago
it co 3t over a dollar a pound to carry from New Y ork
machinery and tools to work the mines of Utah, and the
trip consumed the whole summer. N ow the trip requires
but two weeks or less, and the rate is about two cents.
But at the same time from N ew Y o rk to San Francisco}
eight hundred miles further off, the railroad only gets from
one to one and a quarter cents, because freights to New
York by water are less than half a cent, and one to one and
a quarter is the value to the through shipper of the greater
speed, that is to say, all the railroad can sell it for ; yet as
this more than covers, not the actual cost from New Y o rk
to San Francisco, but the “ additional outlay ” involved
between doing the work and not doing it, the business is
advantageous to the whole inland community served by
the road, for it contributes to income, and the m ore pros
perous the road the lower the local rates may be made. A s
a result of all these conditions, practice has established the
differences in rates between New Y o rk and San Francisco,
which are seen in the follow ing tariff on sugar.
640
Bucyrus, Ohio,
“
840
Hamlet, Ind.,
“
942
Chicago, HI.,
“
“
lake and rail
“ lake and canal
Clinton, Iow a, rail 1080
Cedar Rapids, la . “ 1162
Omaha, Neb.,
“ 1432
North Platte,Neb. “ 1722
Cheyenne, W yo., “ 1950
Green River, “
“
Ogden, Utah,
“
Elko, Nevada, 1 2742
1
H um boldt, “
“ 2926
Sacramento, Cal., “ 3210
San Francisco, C a l,
Tariff,
rail 3299
W ar Rate,
“ 3299
Tariff b y Isthmus
W ar Rate b y Isth-
j Mate
| cents.
R A T E S ON SU G A R P E R H U N D R E D P OU N D S IN C A R -L O A D L O T S .
« which has been imposed upon each road being a party
« to joint rates on through shipments,” or has grown up
F rom New Yorle to
between trade centres and interior towns, “ in accordance
«with the present practice o f the railroads,” is a neces
Harrisburg, Pa., rail 2 0 0
sary and natural product of dissimilar conditions as to Altoona,
326
“
“
444
“
“
competition &c., and on investigation will be found to be Pittsburg,
Graphic Comparison o f Bates.
.15 mm
.15
.15
.21
.25
.25
.20
.16 —
.50
.50
1 ■■' "
■
.59
1.19
1.54
1.98
1.98
1.25
1.25
.87
.60
.35
T ariff b y
Cape
.40
War Rate b y Cape
H o r n ...................
.27 —
In the foregoing we not only have an illustration o f the
discrimination apparently forbidden in the second section
o f the Inter-State Commerce bill, but o f the differences in
the long and short haul rates supposed to be ruled out by
the fourth section. A n d it will be noticed that it is not
at San Francisco alone that nature’s power of discrimina
tion is felt, but at each other station east o f San Fran
cisco until the point is reached where the railroad service
is worth more than the cost of carrying the sugar by
ocean from New Y o rk to San Francisco and then by rail
from San Francisco to the place o f destination. Thus
for instance, Ogden is the point least favored b y na
ture ; east of that the influence of the ocean rate begins to
be felt. I f the rate to Elko was the same as the Ogden
rate, no sugar would go to E lko from New Y ork , so
it is both “ j ust and reasonable” that the charge should be
less. These figures do not of course represent every case,
but still they bring out in a very vivid way the controlling
principle and are a key to a full explanation. Through
rates for grain present a more complicated problem, the
competition which affects them being more varied. But
they are in no degree more arbitrary or unreasonable, and
cannot be changed by law except b y bringing confusion to
commerce.
Still, notwithstanding all this is true, when we come to
apply these tests to the interpretation o f this new measure
Congress has passed, we are met by the fact, and it cannot
be overlooked, that the argument we are using, as previ
ously said, is simply the old railroad view, the same that
has been urged all along to demonstrate the unreasonable
ness o f the Cullom-Reagan bill ; and furthermore that it
most certainly was because people thought that existing
railroad tariffs for through and local freight were not
“ just and reasonable ” that this statute now exists. On
the other hand, the railroads can prove most clearly that
the existing tariffs are “ just and reasonable,” as clearly as
Mr. Alexander’s diagram given above proves it with re
gard to the single item of Sugar. Y et, remembering the
purpose o f the law, the question will arise, is the railroad
manager safe in assuming that this bill is to be interpreted
in the light of this first section ? Must he not rather g o
to later sections before he can know the real purport of the
first section? A n d looked at in that way, may not the first
section be subordinate to the 2d and 4 th sections, and may
* R ailway P ractice—Its Principles and Suggested R eform s review ed not the two latter be held to restrict the meaning or at least
fo? E. Porter Alexander, G. P. Putnam ’s Sons, New Y ork and
the application of the w ords “ just and reasonable ” ?
L >ndon,
260
THE CHRONICLE.
M IL W A U K E E ¿ S T . P A U L 'S L A T E YE A R .
In tbevsecond half o f 1886 the Chicago Milwaukee & St.
Paul retrieved its losses o f the first half and made sufficient
gain besides to make the year’s results as a whole some
what better than those of th^previous year. The improve*
ment concerns not so much the gross earnings (though
even here almost the whole gain was made in the last six
months) as it does the net earnings. In the first six month8
the gross had increased slightly ($25,917), but the net had
fallen off $398,074. W ith this state of things continued;
the promise for the year was o f course not very flattering.
B ut in the second six months a decided change took place.
W e have succeeded in obtaining the figures from a special
source, and find that while the gross increased $279,213
the net increased in the large sum o f $681,215. The
result is, that for the twelve months the net earnings are
$283,141 greater than in the twelve months of 1885. This
o f course is a very much better showing than the exhibit
for the first six months led any one to expect. Below we
compare gross and net for each half o f the last three years.
(VOL. XLIV.
changes in various classes o f bonds, but the principal new
issues for the year are set out in the following.
Kansas City Bridge Income Bonds.......................................... $2,000,00 0
Dakota & Great Southern Bonds............................. ................ 1,548,000
Additional Terminal Bonds........................................................ 1,303 O O
O
Hastings & Dakota Extension 1st 5s........................................
585,000
Chicago & Missouri River Division........................................... 2,049,000
Chicago & Pacific Western Division.......................................... 2,560,000
Total................................................................................... $10,045,000
Though the bonded indebtedness has thus been increased
in amount o f over ten million dollars, the actual ex
penditures for new construction and equipment reached
$11,669,841.
A s the new bonds all bear 5 per cent
interest, ultimately the increase on that account will
reach somewhat over a half a million dollars. Only a
small part of the increase, however, counted in the late
year, apd hence the company paid altogether $6,241,093
for interest in 1886, or $144,519 more than in 1885-,
Deducting the interest from the $10,158,139 net earn,
ings, leaves $3,917,046 for the stock. Dividends at 7 per
cent on the preferred shares and 5 per cent on the com
mon, call for $3,053,076, so that there remains a sur
plus o f $863,970. In addition there is the miscellaneous
1886.
1
1886.
1884.
Milwaukee &
income which for 1885 amounted to $105,939; the exact
St.Paul.
Gross.
Net. 1 Gross. | Net.
Gross.
Net.
amount for 1886 has not yet been ascertained but it will
«
$
$
$
t
t
First half........... . 10,687,876 3,872,789 10,011,959 4,270,863 10,427,193 4,504,975 be a trifle heavier.
Taking it the same, however, here is
Second half.......... 14,080,627 7,044,700(13,801,8141 6,863,485 18,043,805 5,808,455
a recapitulation o f the 1886 accounts.
T o ta l............. 24,718,403! 10,017,489 24,413,273110,634,848 23,470,998 10,818,430
The peculiarity o f this statement— and it is a peculiarity
to which we have once before directed attention— is, that
the whole o f the improvement that has been recorded in
recent years, has occurred in the last six months. A n d
this applies to both gross and net results, though more
especially to the latter. Notwithstanding the extension o f
the company’s mileage, the gross earnings of the first six
months remained practically stationary ; in fact as com*
pared with 1883 there was actually a decrease of $51,000.
The net in this period not only steadily, but very largely,
declined. From $4,503,000 in 1883 and $4,504,000 in
1884, the total fell in 1885 to $4,270,000, and in 1886
dropped still further, to $3,872,000. Note now by con
trast the result for the second six months. The gross has
all the time been gaining, so that or 1886 it was larger
than ever before in those six months, and the net result
affords even a better comparison. Thus, for instance, as
against $5,808,000 net in 1884 and $5,992,000 in 1883,
thetotalin 1885 was $6,363,000, a n d n ow for 1886hasbeen
raised to $7,044,000. Thus it happens that the disparity
between the net results o f the first and second six months
has become very great. A s against the $7,044,000 net in
the last six months the net for the first six months were, as
stated, only $3,872,000, the difference being $3,172,000
The difference in favor o f the gross on the same periods,
was $3,443,000— the total standing at $10,637,000 in the
first six months, and at $14,080,000 in the last six m onths.
It follows that the company must have done 14 millions o f
business at an expense but $271,000 greater than the
expense of conducting 10£ millions o f business. Of course
the first half includes the winter months, when the cost o f
operating is always heavier, but if that is a reason for
larger expenses, at least it is not a reason why gross earn ings should not have improved in that period.
Deducting taxes the net is $10,158,139, and we can easily
determine the amount remaining for the stock on the 1886
operations. In the case o f the St. Paul there are no
rentals to come out o f the net earnings, but merely the
charge for interest. On the 31st of December, 1886, the
company’s funded debt amounted to $111,658,000, against
only $101,470,000 on December 31, 1885, beingan increase
of $10,188,000 for the year. There have been some minor
Gross earnings................................................................................. $24,718,403
Operating expenses..............................................$13,800,914
T axes.......................................................................
759,350— 14,560,264
Net earnings.......................................... , .................................$10,159,139
105,939
Incom e from other sources (same as in l8 8 5 ).......................
Total net incom e..............................................................
$10,264,078
Interest charge................................................................................
6,241,093
Balance fo r stock.................................................................... $1,022,985
Dividends paid (7 per cent on preferred and 5 per cent on
com m on)..................................................................................
3,053,076
Surplus.......................................................................................
$969,909
This shows a surplus above all charges and dividends
of $969,909, and any increase in the miscellaneous income
over the amount received in 1885 would o f course make
it still larger— not unlikely raising it to a million dollars,
at which figure it would stand much the same as in most
other recent years. The one million surplus would suffice
to pay 3 per cent additional on the common stock out
standing.
But such surplus usually goes to meet the
extraordinary expenses, which for 1885 amounted to
$1,002,750, and which in 1886 we are informed were at
least 50 per cent greater (more liberal outlays having been
made). H ow the 1886 results compare with those of pre~
vious years, will appear from the following.
Tears.
1879....
1880....
1881....
1882....
1883....
1884....
1885....
1886....1
Mileage
Operating
Gross
Net
Interest
Dividends. *Balance.
end
Earnings. Expenses Earnings.
paid.
of year.
and Taxes.
2,359
3,775
4,217
4,520
4,760
4,804
4,921
5,273
1
10,012,820
18,086,119
17,025,461
20,386,726
23,659,823
23,470,998
24,413,273
24,718,408J
t
t
5,478,795 4,539,025
7,742,426 5,343,693
10,317,931 6,707,530
12,186,073 8,200,653
13,778,038 9,881,785
13,859,628 9,611,370
14,512,471 9,900,802
14,560,264 10,158,139
1
$
$
2,357,407 1,783,819 466,866
2,918,384 1,942,237 807,370
4,127,389 2,210,617 1,004,832
4,786,053 2,794,98 1,243,425
5,373,925 3,321,167 1,351,400
5,918,608 12,703,082 1,071,966
6,093.574 +2,878,079 1,032,088
6,241,093 +3,053,076 969,909
* Including miscellaneous Income, which in 1879 amounted to $69,.
06 7; in 1880 to $124,298; in 1881 to $635,308; in 1882 to $623,813;
in 1883 to $164,707; in 1884 to $82,306; in 1885 to $L05,939, and in
1886 estimated at same amount.
t Dividend on comm on stock only 5 per cent in 1884, 1885 and 1886»
against 7 per cent previously.
Thus both gross and net earnings for 1886 are larger
than ever before. The increase in charges, however, and
in the call for dividends, has prevented the surplus from
increasing. The St. Paul on the 1st o f January, 1887,
operated 5,273 miles o f road, or 352 miles more than on
the 1st o f January, 1886. But o f this 352 miles increase,
250 miles were added as late as October. The operations
February 26, 1887.]
THE
CHRONICLE.
261
of the system have expanded wonderfully in the last seven Speaker, to bring the measures into the House again if
years, so that the net earnings in 1886 ($10,158,139) were the committee is opposed to the bills.
Two or three weeks ago there was a very remarkable ocgreater than the gross in 1879 ($10,012,820).
currence in reference to the River and Harbor A ppropria
tion bill. The bill was referred to the Committee o f the
P A R L IA M E N TA R 7
F A IL URES.
Diligent readers o f the Congressional Record— perhaps W h ole for amendment. In the ordinary course the bill is
we should pause until the wonder at an intimation that read through, section by section, and amendments are
there are any such persons has subsided— may find in the offered to the details o f the bill. In this case a substitute
pages of that periodical abundant reason for doubting if was proposed to appropriate a lump sum to be expended
The Committee
the political millennium has arrived. In that good time in the discretion o f the administration.
coming possibly there will be less occasion for law than of the W h ole adopted this amendment, which precluded
Then the committee rose and reported the
there is now, and certainly there will be less demand all others.
for parliamentary trickery. But we are yet far, far from bill to the House, which promptly rejected the amend
This brought
having reached a point which can satisfy the ideal o f the ment it had just adopted in committee.
U nder
statesman. In these closing days o f the session, the failures the unamended original bill before the House.
of Congress stand out in rather startling relief. They are the rules no amendment could be offered which had not
of various classes, though of course they may be divided been considered in Committee o f the W hole. A ccordin gly
generally into things left undone which ought to have the House had been induced, by a very simple trick, to
been done, and things done which ought not to have been lose its right to examine the provisions o f the bill, and it
had to be taken as it was.
done.
A third failure occurred when the trade dollar bill was
There is, first o f all and not very important, the failure
to act upon the measures presented. The whole number under consideration. The Senate form ally voted that the
of bills introduced in both branches o f the present Con amount o f trade dollars redeemed should be deducted
gress is now approaching fifteen thousand— more than from the monthly purchase of silver bullion. The House
11,200 having been presented in the House and 3,300 in struck out this provision and the bill went to a committee
the Senate— and only an insignificant proportion o f them o f conference. These conferees were so well chosen that
have come or will come to anything. But waste is one of they promptly agreed, b y a unanimous vote, to abandon the
Nature’s laws, in spite of the efforts of scientific men to position taken b y the Senate. But this is not nearly so bad
persuade us that the conservation o f energy is the law. as the very common practice o f conference committees to
How large a proportion o f codfish eggs are hatched and present to Congress bills which differ radically from those
come to maturity ? and why should not Congress be which have passed either house, and all that the Senate
satisfied if it does better than Nature can do with her or the House can do is to take the bill as it is or reject it.
codfish eggs ? V iew ed in this light the getting through This was the case when the Inter-State Commerce bill was
Congress o f a few hundred measures in two sessions is a put through. Three members from each branch were vir
glorious triumph, and a proof o f man’s superiority to Na tually entrusted with the duty o f framing the bill, and o f
ture. When we come to consider which measures are reporting it back with the word :— This, just as it is, or
taken and which are left, we are forcibly reminded of
another law of modern science, the “ survival of the fittest” ;
and this law is true of Congressional work in the same
way and to the same degree as it is in Nature. The fact
that one thing survives and another perishes, is proof that
number one was fitter than number two. So when a
private pension bill struggles with and gets the better of
a public bill we must conclude that the form er is o f greater
importance to the country and o f greater worthiness than
the latter. Still, it is a little like reasoning in a circle.
If, however, we could emancipate ourselves from the
doctrine that whatever is, is right, we might come to the
conclusion that the methods of procedure in Congress are
not producing the best results, and therefore ought to be
changed. "We wish to cite two or three examples of what
seem to us lamentable failures, and in doing so we prefer
to express no opinion upon the merits of the measures
upon which these failures occurred.
First, take the bills
passed by the Senate with the idea o f providing for the
national defence.
There were four o f these measures,
two of which made provision for the manufacture of
heavy ordnance for army and navy purposes, the others
for the construction of swift cruisers and of vessels for
harbor defence.
Three of these four bills passed the
Senate unanimously, and the fourth by a vote o f 46 to 7.
Whether wise or unwise measures, they are assuredly
niatters of importance on which the House o f Representa
tives should have a right to pass.
But the House has
not that right.
In regular order when they reach the
House they must be referred to the Committee on A ppro,
priations, and the House itself has not power to direct
that they be not so referred.
N or is there any way,
®xcept by a two-thirds vote and the concurrence o f the
nothing.
The truth is, Congress has placed itself under a des
potism o f committees. W ithin a fortnight a decision has
been made by the Speaker, and no doubt under the rules
it is a correct decision, which comes to this: E very propo
sition to amend the rules or to dispense with an inconven
ient rule in a particular case, must be referred to the Com
mittee on Rules, and may not be considered unless
reported by that committee. See then in what a position
the House has placed itself. Having given enormous
power, the power o f withholding any measure from co n
sideration, to little groups of its own members, it has sur
rendered the power o f resuming control o f that measure ;
for it has also been decided that the House cannot instruct
a committee in regard to any matter upon the original
commitment o f that matter, but only upon a recommit*
ment.
Meanwhile there are scores o f measures more important,
as the most of us think than pension bills or bills for the con
struction o f public buildings, that ought to have been con
sidered and will not be brought up. There is the great
question o f the surplus and o f taxation.
Provision
should be made for refunding the debt. There are three
territories that claim they ought to be admitted as States,
and perhaps one or more would be admitted if the mem
bers o f the two parties would work as hard to decide
whether or not Dakota shall be divided as they do to give
pensions to every one. The U nion Pacific debt question
should certainly be decided one way or the other. A n d
so we might g o on if it were worth while to make a cata
logue o f these matters. Congress would accomplish more
in the next ten years if it would devote an entire session
to the preparation o f a reasonable code o f procedure.
THE CHRONICLE.
262
T H E ST. P A U L & OM AH A'S O PER A TIO N S.
I d an article October 30 we gave some special figures
covering the operations o f the Chicago St. Paul Minneapo
lis & Omaha road during the first half of 1836. W e are
now able to supplement this with data covering the sec
ond half of the same year, thus giving us the returns for
the twelve months complete.
In whatever way looked at, the exhibit is a strikingly
g ood one, and those interested in the property have reason
to congratulate themselves upon the favorable results
attained. In the review for the first half of the year we
noted how greatly earnings had been increased; in the sec
ond half the improvement in the net is more moderate,
but still this period resembles the first six months in show
ing the largest total on record for any similar period,
making the net for the full year greater than ever before
in the company’s history. The following exhibits the
gross and net results for each month o f the last three
years.
1886.
1885.
1881.
Gross Op. exNet
Gross Op. ex- Net
Gross Op. exNet
Em'gs. penses Earn'gs. Em'gs. penses Ern'gs. Ern'gs. penses Earn'ge.
A taxes
A taxes
A taxe8
$
$
Jan... 889,521 286,584
895,600 268,009
F e b ..
Men. 520,653 285,309
April. 479,187 299,229
May,. 458,925 834,465
June, 498,271 847.280
Ju ly . 493,840¡S29,330
Aug. 499,087,361,293
Sept. 618,411 877,423
Oct.. 652,650^833,347
Nor. 636,122 320,636
Deo.. 563,500 300,670
$
%
$
52,937 ,331,453 300,662
127,591 307,043 280,545
235,344 458.624 299,561
179,958 464,892 315,010
124,460 478,152 314,509
148,991 470,508 312,822
164,010 472,523 317,071
134,791 476,229 311,405
210,988 600,905 328,856
317,308 699,884 356,112
315,486 588,583 343,751
262,830 465,811 240,847
*
30,791
26,498
159,263
149,882
163,643
157,686
155,452
164,824
272,049
343,772
244,835
224,964
$
$
$
350,283 290,037
60,246
331,453 291,450
40,003
463.952 308,718 155,234
587,998 370,197 197,801
513,349 430,975 82,374
466,514 403,933 62,581
466,760 355,424 111,336
469,130 338,062 131,068
527,884 280,187 247,747
642,460 372,915 269,545
540,959 327,167 213,792
444,190 238,008 206,182
Total gross earnings 6,153,267
Total op.exp.& taxes 3,848,575
5,814,810
3,721,151
5,784,932
4,007,023
Total net earnings 2,304.092
2,093.659
1,777,909
There is here no uniform gain month by month. In
only two of the twelve months were the gros3 earnings
less than in the year previous, but the net earnings were
less for five of the months. This latter, however, is o f no
special significance, as it is due to the increase in expenses
in those months, and expenses naturally vary, so that it
not infrequently happens that a larger proportion o f the
operating cost appears under the head o f one month than
under the head o f another. The last two months o f the
year are particularly distinguished for their gains, both
in gross and net, and this may perhaps be accepted as an
indication of the tendency as the year closed. But a much
better way to look at the figures is to take a longer period
for comparison. Here is an exhibit o f the gross and net
earnings by quarters for five years.
1
1Chicago St. Paul
Minn. A Om.
1886.
1885.
First QuarterGross earnings...
Oper. exp. & taxes
$
1,255,774
839,902
$
1,097,320
880,768
Net earnings.
415,872
Second Quartr—
Gross earnings... 1,434,383
Oper. exp.& taxes
980,974
1884.
«
1,145,688
890,205
$
1,03 1,587
916,299
$
1,074.154
688,682
216,552
255,483
114,297
885,472
1,413,552
942,341
1,547,861
1,205,105
1,321,802
917,633
1,154,864
803,248
1883.
1882.
Net earnings.
453,409
471,211
342,756
404,169
351,616
Third Quartr—
Gross earnings...
Oper. exp. A taxes
1,610,838
1,071,046
1,549,657
957,332
1,463,774
973,623
1,462.845
893,769
1,304,378
796,834
Net earnings.
539,792
592,325
490,151
569,076
607,544
Fourth Quartr—
Gross earnings... 1,852,272
Oper. exp. A taxes
956,653
1,754,281
940,710
1,627,609
938,090
1,700,051
896,135
1,428,806
952,023
Net earnings.
895,619
813,571
689,519
803,916
476,788
F e a rGross earnings...
Oper. exp. & taxes
6,153,267
3,848,575
5,814,810
3,721,151
5,784,932
4,007,023
5,515,285
3,628,827
4,962,202
3,240,787
Net earnings.
2,304,692
2,093,659
1,777,909
1,891,458
1,721,415
This shows a gain in the gross in every quarter o f 1836
compared with the previous year, but a gain in the net
in only the first and the last quarters, and a loss in the
other two quarters. A s respects this loss, however, it is
[V oi*
XUV,
to be said that the increase in gross in both the second and
third quarters was comparatively slight; that the expenses
in 1885 in those quarters had been greatly reduced, par
ticularly in the second; and m oreover, that for a part at
least of both quarters the war of rates on business between
St. Paul and Chicago affected results unfavorably in
1886.
But after all, it is the year as a whole to which most
interest attaches. Here, as already said, we find steady
and continuous improvement. A s compared with 1885
the gross is increased $338,457 and the net $211,033__
that is, almost two-thirds of the gain in the gross counted as
a gain in the net. The percentage o f increase in the gross
is hardly 6 per cent, but in the net is over 10 per cent.
The most satisfactory feature of the exhibit, however, is
the constant improvement from year to year. Each year
the gross has risen, and the net every year but one. Since
1881 the mileage o f the system*has been increased about
one-third— from 1,003 miles to 1,339 miles— but in the
same interval earnings have increased over 50 per cent in
gross, or from $4,021,961 to $6,153,267, and about 85 per
cent in net, or from $1,245,501 to $2,304,692.
W ith these figures as a basis, and having obtained also
most of the items of charges against income, we are able
to indicate quite clearly the results to be disclosed by the
annual report when that is issued some weeks hence. The
amount o f the com pany’s bonded debt on December 31,
1885,not counting the $75,000 of Minneapolis Eastern bonds
guaranteed, nor $40,000 of St. Paul & Sioux City and St.
Paul Stillwater & Taylor’s Falls bonds held in the treas
ury, stood at $22,299,970. On December 31, 1886, the
amount o f the same item was $22,277,925, showing a
slight reduction. There could therefore have been very
little change in the requirement for interest. In point
of fact, we find that the actual gross amount o f interest
paid in 1886 differed only $4,540 from that for 1885, and
stood at $1,338,
A gainst this, however, there were
some offsets, the amount o f which we do not know. These
offsets in some other years have been quite heavy, but
apparently the sale o f some of the St. Paul & Duluth
stock diminished the item, a n d io r 1885 its aggregate was
only $33,235. Taking it the same for 1886, the net
amount o f interest paid in that year would be $1,305,629.
A s for the rentals, the company paid $102,304 on that
account in 1886, against $62,933 so paid in 1885, being
an increase of $39,321. The loss in operating the propri
etary roads has not varied much in recent years; and not
having the exact figures for the late year, we may use the
same amount as in 1885— $12,524. This would give us total
charges against net earnings of $1,420,457, which com
pares with $1,376,596 in the year 1885. Hence of the
$211,033 increase in net earnings, only $43,861 went to
meet increased charges, leaving $167,172 to swell the
amount remaining fo r the stock, and raising it from $717,*
063 to $884,235.
The 6 per cent dividends paid on the
preferred shares called for only $675,408, showing a clear
surplus above those dividends o f over $200,000. The
company could have paid the old 7 per cent and have left
a balance of almost $100,000.
A n d this on the ordinary
operations o f the road.
But in addition, as is known,
there is a large revenue from land sales, which is
always brought into the general income account, and
without the aid o f which the dividends in some of the
earlier years could not have been paid. W e have been
unable to determine this item for the calendar year, but
for the twelve months ended June 30 it was as much as
$840,167. Including this, we get a total surplus above the
6 per cent dividend paid on the preferred stock of over a
million dollars— $1,048,994. In the following table we
FEBRUARY
26, 1867, J
THE CHRONICLE
263
fwnish a summary o f the St. Paul & Omaha’s income It is not without significance that whereas the City o f
account for six years, from which it can be seen how great Berlin in 1878 cast a Socialist vote of eighty, it has at
this last election cast a vote of very nearly one hundred
the improvement in the late year has been.
thousand. N or has it been at all an edifying spectacle to
1882.
1881.
1883.
1884.
1885.
those who remember the pomp and magnificence of the
1886.
St. Paul & Omaha.
1,003
1,150
1,280
1,318
1,339
1,839
scene at Versailles in 1 S ? 1— when, in the hall of glass, the
T
Miles Dee. 31.
$
$
$
*
t
3
5,814,810 5,784,932 5,515,285 4,962,202 4,021,961 German Empire was proclaimed and the empire o f Charle
Gross earnings.......
3,621,135 3,498,662 3,783.547 3,422,941 3,068,313 2,633,976 magne restored— or to those who remember the passing of
Operating expenses.
227,440 222,489 223,476 200.886 172,474 Ì42.484
Taxes.........................
3,848,575 3,721,151 4.007,023 3,623,827 3,240,787 2,776,460 the May laws a few years later, to see Bismarck and the
Total expenses....
2,304,692 2,093,659 1,777,909 ÍÍ89ÍÍ458 1,721,415 1,245,501 Emperor W illiam now reduced to the necessity o f asking
Net earnings.......
Charges—
1,338,864 1,334,324 1,320,146 1,222,371 1,134,752 893,536 the aid of Papal influence in a national election contest.
Interest on bonds ...
*33,235 33,235 212,221 153,624 120,866 78,585 It is discouraging, too, so far as Germany and the German
Less credits.............
1.305,629 1,301,089 1,107,925 1,068,747 1,013,886 814,951 Government are concerned, that after sixteen years of
Net interest.............
+114,828 75,507 62,239 47,921 27,736 53,059
Rentals, &c............. .
1,420,457 1,376,596 1,170,164 1,116,668 1,041,622 868,010 incorporation with Germany, the people o f Alsace and
Total charges.......
Lorraine, show no diminution of their affection for their
884,335 717,063 607,745 774,790 679,793 377,491
Amount for stock..
The years which have intervened
547,777 546,825 504,143 brethren of France.
+840,167 721,996 651,125
Cash from lands. ..
1,724,402 1,439,059 1,25S,870 1,322,567 1,223,618 881,634 since the last war with France have not, there is just
Total net Income.
675,408 675,408 787,976 770,476 735,397 672,737
Dividends..............
reason to conclude, achieved all that the Chancellor
1,048,994 763,651 470,894 552,091 491,221 208,897
Surplus..................
expected ; and great as is the work which he has accom ‘ Same as in 1885.
, .
..
. ...
t In this the loss on the proprietary roads is taken the same as in tne plished for the German people as a whole, it is not yet
year previous, namely, $12,524.
j Amount fo r tw elve months ended June 30, 1886.
completed.
But in spite of these aspects o f the situation, there is
According to these figures the surplus of $1,048,994 for
1886 compares with only $763,651 for 1885, $470,894 for cause for satisfaction to the German Government in the
1884, $552,091 for 1883, $491,221 for 1882, and but results which have been secured. V ictory is victory no
$208,897 in 1881. In all the earlier years the receipts matter how it may be qualified ; and if in this case it
from land sales were absolutely necessary to the payment should tend to peace it would prove especially joyous not
of dividends. In fact, in 1881 the surplus above the divi* only to Germany but to the outside world as well. Then
dends, on the operation o f the road and the land sales with regard to the Socialist vote, even though it has so
combined, was no more than in 1886 from the operation largely increased in Berlin, Ham burg, and other o f the
of the road alone, the two amounts being almost precisely large cities o f the Empire, it cannot but be gratifying
the same, $208,800. Before the company can distribute that the actual number o f Socialist members in the new
anything on the common stock the preferred is entitled to Parliament will be much smaller than it was in the last
7 per cent dividends, while only 6 per cent has been paid. a number so small as to make the vote practically value
Allowing for the 1 per cent difference, however, there less. If discouragement was experienced because of the
would still remain a surplus for the late year of $936,426 vote in Alsace-Lorraine, it must have been in a high d e
(land sales o f course included), equal to over 5 per cent on gree a cause of satisfaction to find that in such provinces
of the Empire as Saxony, as Hesse, as Baden, and as
the $18,559,660 common stock outstanding.
W urtem berg, the Government had been powerfully sus .
TH E G E R M A N ELECTIO N S.
Seldom have any elections been looked forward to or
watched with such interest as those which have just been
brought to a close in the German Empire. This was due
to the feeling which so widely prevailed that the peace of
Europe largely depended upon the result. It is known now
that the immediate object of the Government has
been obtained. W h at has been called the Septennate has
been secured.
On many points the elections have been instructive.
When we look at the returns, and at the comparatively
small majority, especially considering the large numbers
who voted— some ten per cent more than at any election
during the last ten years, and twenty per cent more than
at the election in 1871— and the pressure which was
brought to bear upon them, it is impossible to resist th e
conviction that the Government had cause for anxiety.
There is no getting over the fact that a feeling of dissatis
faction prevails throughout Germany because of the enor
mous weight o f taxation they are compelled to bear, and be*
cause of the inconveniences which result from the withdraw ’
al for army purposes from active business pursuits o f so
large a proportion o f the intelligent and able-bodied youth
of the country. Y ear after year thousands of young men^
who at home would have added to the wealth o f the
Ration, because of their dislike of military duty, seek
homes in foreign lands ; and thousands more, who at that
age, if not actually wealth-producing citizens, are most
capable o f acquiring wealth-producing habits, are com
pelled for three continuous years to do military service.
tained. It would have been as encouraging to France as
it would have been discouraging to the authorities at
Berlin, if any o f the border provinces, especially those on
the Rhine, had revealed a disposition to go back upon the
Empire. A nd even if regret is felt because Papal aid was
needed to secure the vote o f the Roman Catholics, there
is consolation in the fact that, for the present at least, and
especially on the important question at issue, the national
German sentiment is on the side o f the Government.
Perhaps the most significant lesson to be drawn from
these elections is the power of the nationality sentiment
when it is evoked. In the body-politic it has a power
which resembles very closely the self-preservation senti
ment in the individual. The love of country and kindred is strong as the love o f life. In recent years we have
h&d many illustrations. W e have seen it here in the case
o f our own struggle with the South. It was the appeal to
the people of the North to come to the rescue of the
Union, which made the war immediately popular. It was
the determination that the American U nion should not be
cut up into sections, but should remain one and indivisible
which sustained the spirits and nerved the arms o f the
warriors o f the North. It was the love o f Fatherland,
and the resolution that it should not again become the
prey of France, which made the task o f Bismarck so easy
in 1870 and in 1871. It was the determination o f the
British people that reform should never take the shape of
national disintegration which drove recently from power
the most popular, the most powerful, and, in many re
spects the most capable, of modern British statesmen; and
it is the same determination that in these days o f advanced
264
C H R O N I C L E . ______________
TH E
liberalism makes it possible for a Tory administration
to remain in office.
Prince \Bismarck has always during his entire public
career been the most vigorous personal exponent
of this
national sentiment, and
he very wel
knows its power. On any other subj ect— on such sub
jects as the proposed Government monopoly of the
tobacco and liquor trades— he might have appealed to the
people without success.
But Fatherland— every inch o i
it— is dear to every German. Bismarck had been instru*
mental in giving it such unity as it never had had before.
But this unity was threatened— or at least seemed to be
threatened, and by the very Power which had often already
made capital out of Germany’s divisions and weakness.
W as the French invader to be allowed to set foot on
German soil ? W as Germany again to be at the mercy
of the foreigner ? W as the great work of unification to
which he and the venerable Emperor had for so many years
given their time and their strength— was that to be un
done ? Such was the case as it presented itself to the
German people. Their answer has been decisive. Father,
land may have its own domestic difficulties, but it must
be a unit against the foe— it must present such a front
to the enemy as shall make invasion impossible.
In this nationality sentiment lies the hope of peace
among civilized peoples.
Conquest no longer implies
absorption as it once did.
The difficulty which Germany
is experiencing with Alsace-Lorraine would only be
aggravated and experienced on a larger scale if either
Germany or France should allow annexation to follow
conquest.
RAILRO AD EARNINGS.
Railroad earnings for the second week of February show a
gain of $215,321 on 60 roads, or 7*50 per cent, as follow s:
| 2 d week o f February.
P rev’ly r e p ’ted (19 roads)
Buffalo N. Y. & e h ila . . . .
Burlington C. R. & N o ...
Chicago & West M ic h ___
Cin. Ind. St. L. & O..........
Cin. N. O. & Texas P a c ...
Alabam a Great S o........
New Orleans & N. E . . . .
Vicksburg & M eridian..
Vioksburg Shrev. & Pac.
Cincinnati Rich. & Ft. W.
Cincinnati Wash. & Balt.
Cleveland Akron & C ol..
Col. & Cin. Midland.........
Des Moines & Ft. Dodge.
East Tenoi. Va. & G a .......
E vansville & Terre H ___
Flint & Pere Marquette..
Ft. Worth & Denv. C ity..
Grand Rapids & Ind.......
Grand Trimk of Canada..
Houston & Texas C ent...
Lake Erie & W estern.......
Louisv. Evansv. & St. L ..
Louisville < Nashville . ..
&
Marquette Hough. & On.
Memphis & Charleston...
Mexican Central...............
M exican Nat. (So. D iv.)..
Minnesota & Northwest.
N. Y. City & Northern . ..
Ohio < Mississippi...........
&
St. Jos. & Grand Island..
St. Louis Alton & T. H. ...
Branches.........................
St. Louis Ark. & Texas ..
St. Paul & Duluth............
Wabash St. L. & P aciflo..
W heeling & Lake E rie___
Wisconsin Central............
Minn. St. Croix & W is..
Wisconsin & Minnesota
Total (60 roads).........
Net increase (7 ' 50 p. ot.).
1887.
1886.
Increase.
$
$
1,263,935 | 1,178,902
36,400
45,000
47,470
53,877
21,634
24,212
49,176
49,700
62,783
48,913
30,764
22,743
12,282
11,221
10,442
10*889
9,744
10,863
6,211
7,203
35,834
35,773
8,880
8,535
6,139
5,116
6,360
9,502
101,939
83,750
13,587
12,654
38,749
41,256
9,980
8,300
34,505
34,765
310,045
294,020
5 i,3 5 7
56,945
25,461
25,817
15,779
15,325
300,470
276,380
10,256
6,582
32,606
31,365
100,150
79,028
20,684
17,616
11,038
4,856
11,175
8,344
86,503
77,707
19,970
25,241
27,388
24,141
18,540
16,856
41,524
34,571
23,742
16,816
113,502
107,867
13,490
11,367
27,960
24,033
7,036
3,124
11,657
2,301
$
143,976
3,084,512
314,690
215.321
2,869,191
13,870
8,021
i;o6i
61
295
1,023
18,189
933
1,680
Decrease.
$
58,943
8,600
6Í407
2j578
'524
447
1,119
992
3,142
2,507
260
16,025
454
24,090
3,674
1,241
21,122,
3,068
6,182
2,831
8,796
3,247
1,684
6,953
6,896
2,123
3,927
3,912
9,356
2,588
356
5,271
5 ,6 3 5
99,369
For the third week of February, the 21 roads that have yet
reported have earnings of $1,470,601 this year, against
$1,851,198 last year, the gain baing $119,403, or 8 84 per cent.
3d week o f February.
Buffalo N. Y. & Phila . . . .
Buf. Roob. & P ittsburg...
Canadian P acific..............
Chicago & A tlantic...........
1887.
1886.
$
49,300
28,637
119,000
45,565
$
42,700
28,298
122,000
27,551
Increase.
* ,6 0 0
339
Í8.Ó14
Decrease.
$
3,000
3d week o f February,
Chicago & East. Illinois..
Chic. Mil. & St. Paul.......
Chicago < West Mich___
fe
Cincinnati Ham & D ay..
Cin. Ind. St. L & Chic ...
Denver & Rio Grande...
Det. Lansing & Northern.
Long Island.....................
Mexican Central..............
Milwaukee L. 8. & West..
Milwaukee & Northern ..
N. Y. Ont. & Western___
Northern Pacific...............
St. Louis & San. Fran ...
St. Paul & Duluth...........
Toledo & Ohio Central...
Total (21 roads).........
N et, increase(8‘8 4 p. ct.).
1837.
tv „ i . x u v .
1886.
$
33,156
368,000
23,991
51,215
49,348
134,848
16,014
46,117
100,020
37,616
15,825
20,828
61,135
133,685
97,700
18,382
20,189
24,131
49^474
49,700
111,586
18,809
42,394
72,387
24,080
10.122
17.655
52,910
158,795
76,797
16,846
10,814
1,470,601
Increase.
1,351,198
30,195
*2,961
2,046
1,77Í
23,262
3,723
27,633
13,536
5,703
3 ;i7 3
8,225
20,903
1,5 <6
9Í375
148,800
119,403
Decrease.
9
140
3 *2
*5
2,79*5
'23,11*0
2937
g u g tis fr H ew s
ÍFrom our own correspondent.!
L o n d o n , Saturday, February 12, 1837.
Notwithstanding the recent war scare, the continued ten
sion between Continental nations and the hurrying forward
of military preparations, signs of improving trade in the
United Kingdom are multiplying. The volume of export
business is unquestionably expanding. Some temporary check
was imposed upon French and German purchases of Colonial
wool at the sale3 now in progress, but with the abatement of
political excitement this hindrance has been removed, the
market recovering its firm character. The truth is, that in
spite of the threatening aspect there is a strong belief in the
maintenance of peace and in the postponement of the settlement of the Franco-German duel, with its prospective troubled
surroundings. The recent scare is now recognized as mainly
an electioneering move of the German Chancellor, aggravated
by the collapse of an overgrown Bourse speculation.
A satisfactory .feature from a commercial point of view
which has transpired during the week has been the encouragj
ing increase in the goods traffic of the leading English rail
ways.
It was the want of this evidence which hid caused
doubt in some quarters respecting the substantiability of the
trade improvement, but it is clear from these movements
that a solid revival is in progress which promises to be miintained. The Northeastern shows a gain on the week over last
year of £6,976, the Northwestern a gain of £2,621, the Lancal
shire & Yorkshire a gain of £3,482 and the Great Western a gain
of £1,690.
On the Midland and Scotch lines there is a rather
sharp falling off, but in the case o f the former system the
reduction is mainly the result of the lower tariff.
Taken all
round the goods results are unquestionably satisfactory, and
as they are backed up by a general increase in the passenger
receipts, we may assume that home business generally is look
ing up. The railways ju sta tth i3 season are not utilized for
holiday or pleasure traffic; consequently any expansion of
the passenger receipts may be safely attributed to the greater
trade requirements. This is a crucial test, and as at the same
time it is supported by reports o f growing activity in the iron
and steel industries, its value may be admitted.
From an
examination of the Board of Trade returns it appears that
whilst our trade with America is in a healthy state, we are
doing more with India.
The crop reports from India are to
the effect that an abundant yield of grain will be secured, and
as the bulk of the produce will be marketed here, we may
presume that Indian purchases of our goods will increase
p a ri passu. So also with Australia ; we look for a reviva
o f trade with that quarter now that better prices are being
obtainable for wool, and the deficiencies of the last Australian
harvest promise to bs counterbalanced by a superabundance
this year.
Were it not for the fears of Continental disturb
ance and the uncertainty concerning their issus, the trade
prospect just now could not be described as otherwise than
distinctly bright.
Very little animation has been observed in the money
market, which has been fairly supplied with capital. The
S .ock Exchange had no difficulty in obtaining advances from
the banks for the fortnight at from 3*^ to 4 per cent per annum t
the lower figure predominating at the close of the settlement.
For day-to-day loans the charge ha3 been 2% to 3 per cent,
and the discount rate for three months’ bills has been
Per
cent below the Bank minimum. The Bank return is distinctly
A
avorable, and contains every promise of a continuance of
ease in the money market. The gain in the reserve is as mnch
as £783,663, of which £348,245 is in diminished note circulation
and £385,418 in increased bullion. Of the latter gain about
£300,000 has been secured from general circulation.
The
stock of bullion is now £21,814,000, and there is the prospect of
its being further augmented from foreign sources. The
reserve also is as much as £13,969,000. It will thus be seen
that the position of the Bink of England just nbw is decidedly
strong. From now until the end of the quarter the Bank will
be acquiring greater control over the outside through the
revenue collections.
Mainly from this cause the publio
deposits have increased £1,087,821 whilst other deposits have
fallen off to the extent of £871,164. Since the end of December
the stock of bullion has increased £3,000,000 and the reserve
of notes and coin £3,800,000. A t present the proportion of
reserve to liabilities is 50-07, against 47-70 per cent last week.
The following return shows the position of the Bank o f
England, the Bank rate of discount, the price of consols, &c.
1887.
,-------- Quantity.-----------. /------------ Yalt it.— — N
1886.
1887.
1887.
1886.
7,086 £163,664 £139,891
8,554
Oxen and b u lls ... ....N o ,
480
24
...N o .
4,271
489
978
2,179
Sheen and lam bs.. ....N o .
106,427
786.289
260,339 1,938,443
W heat—
Atlan. norts.cwts.
99,379
791,415
328,211
259,408
Pacific ports....... ..cw ts.
443,123
658,207
784,152 1,194,840
F lour.......................
457,211
543,980
308,305
290,154
B acon.................... . .cwts.
29,159
26,099
17,039
t4,931
Beef—Salted......... ..cw ts.
167,435
154,257
67,814
71,836
F resh...................
146,873
214,351
88,234
68,109
Hams...................... ...cw ts.
1,072
697
347
725
Meat. unenumerat’ d.owt8.
49,200
62,984
27,459
19,592
Preserved...........
49,859
33,689
32,492
24,500
Pork—S a lted ......... ..cw ts.
19,551
33,417
7,846
5,728B u tte r ...................
131,004
97,862
33,064
61,620
Cheese ...................
32,741
56,858
10,784
23,781
Fish .......................
152,333
79,237
88,952
47,943
Lard.......................
67,193
11,926
14,287
71,627
Sugar, refin e d ___ ..cw ts.
7
7,010
1
502
Copper o r e ............. ...ton s .
3,725
44,340
142
1,810
Regulus, &o....... ...ton s .
Unwrought and partly
400
667
10
16
w rought........... ...ton s.
1,206,651 1,781,082 3,018,743 4,450,201
Cotton, raw ..........
31,125
21,946
24,887
15,599
T allow ................... . ..cw ts.
9,905
31,481
1,969
8,282
Wood& timber—Hewn.lds.
13,269
25,585
4,305
8,851
Sawn and sp lit.. ..loads.
6,244
5,063
.......No.
156,322
75,404
1,328,989 3,014,120
Leather..................
1884.
1885.
1886.
£
23,877.715
4.663.562
25.406.555
13,744,670
80,199,233
14,270,534
22,898,249
47%p.C,
8p. c.
100 9-16d.
100 15-16d.
111,635,000 I 89,542,000
Clearing-House return...................
£
28,595,880
4.757,541
82,983,006
13,189,782
18,757,946
Reserve of notes and coin............. 18,969,013
21,814,396
50 07 p. c.
Circulation, excluding 7-day and
£
28,864.040
a 356,042
28,535,43 3
14,051.801
21,134,138
14,878,221
22,992,261
46% p.o.
4 p. C
.
99%d.
96,086,000
£
24,766,815
8,891,020
22,485.240
13,453,063
23.140,675
12,890,293
31,907,103
40% p. c.
3% p. c.
101 5-161.
97,744,000
Messrs. Pixley & Abell write as follows on the state of the
bullion market:
G o ld -T h e small demand which existed fo r Germany earlier in the
week has now entirely ceased; and the Bank has purchased nearly all
the arrivals, am ounting to £184,000, while £5 0,00 0 has been w ith
drawn for Lisbon. The arrivals are £5 ,000 from Australia, £ 5 1,00 0
from West Indies, £5 ,000 from Cape o f Good H op e; total £64,000.
The P. < O. steamer takes £1 0,00 0 to India.
fc
Silver—A fter nearly an entire week o f inactivity, caused b y relapse
in Indian rates, consequent on the persistently repeated w ar rumors
business was done for the first time yesterday at 483gd. To-day s ex
changes show steadiness, and the Bank o f Bengal rats has m oved to 8
per cent, and w e can, therefore, quote 469sd. to 4 6 ‘ad. as the nearest
prioe.
£5,00 J has arrived from Australia, £18,000 from West Indies,
£32,000 from R iver Plate. £18,000 from New Y o rk ; total, £73,000.
The P. & O. steamers take £22,000 to Bombay and Calcutta.
M exican Dollars -N oth in g has been done in this coin during the week,
and no price can be quoted. The only arrivals are £12,000 from Cen
tral America and £18,010 from New York. The P. & O. steamer takes
£27,509 to Hong Kong and Shanghai.
The quotations for bullion are reported as follows:
GOLD.
London Standard.
Feb. 10.
9.
d.
Bar gold, fine.. ,oz. 77 9
Bar gold, contaln’g
20 dwts. silver.oz. 77 10
Span, doubloons.oz. • •
•
S.Am.doubloons.oz.
F eb. 3.
». d.
77 9
77 10
SILVER.
London Standard.
Feb. 10,
9. <.
2
Bar silver..........oz. 46
Bar sliver,containlng 5 grs. gold.oz. 46fc
Cake silver...... oz* 50 7-16
Mexican dols...oz.
Feb. 3
d.
47
47 %
50 11-16
46
The financial event of the week has been the announcement that the Bank of England will receive tenders for
another issue of £2,500,000 four per cent inscribed stock of
the Queensland Government, to rank p ari passu with that
already created. The minimum price is par.
The subscriptions to Samuel Allsopp & Sons limited exceed
£100,000,000, from about 350,000 applicants.
The Board of Trade returns for the first month of the year
may be accepted as favorable. Both imports and exports
show an increase, the former chiefly in raw materials, espec
ially cotton, in which there is a gain o f £1,687,129; but
against this has been placed a deficiency of £440,987 in woolThe actual increase in the gross imports is £2,364,383 and in
the exports £595,954. As regards our trade with America, an
examination of the accompanying statistics shows that our
indebtedness to the United States during January, both for
raw material and foodstuffs, was greater than in the corres
ponding month of last year. Oar export business is in the
main satisfactory, but some items show room for improve
ment.
The following are the totals of the imports and exports dur
ing the month of January:
Exports British
< Irish Produce
£
Imports.
£
1885................................... 35,669,005
18S6...................................28,683,039
1887................................... 31,047,422
c M anufactures.
é
£
18.109,525
17,212,781
17,808,735
Re-exports o f
For. <•Colon
£
ia l Mdse.
£
3,766,002
3,481,109
4,202,239
The following shows the imports from the United States dur
ing January, so far as enumerated in the Board of Trade
returns:
265
THE CHRONICLE.
Febru ary 36, 1887. J
Below are the exports of British and Irish produce to the
United States, as far as can be gathered from these official
statistics, during January :
/■
- Quantity---------> <
------------Value1886.
1887.
1886.
1887.
£3,335
£5 ,195
Horses........................... No.
47
79
12,824
11,125
Beer and ale.............. bbls.
2,703
3,666
15,210
16,056
.
14,999
17,974
Salt............ v.................tons
3,823
2,756
Spirits......................... galls.
12,003
8,914
45,479
23,183
631,600
W ool....................... .....lb s , 1,298,300
167,204
191,676
Cotton piece goods. ..yd s. 7,285,400 8,913,100
10,669
3,754
Jute—Yarn................... lbs. 1,380,600
428,700
65,132
72,982
P iece g o o d s ....y d s. 8,220,400 9,922,300
2,440
3,820
Linen—Y arn .................lbs
81,600
132,000
247,117
243,759
Piece g oods..y ds.10,985,400 10,055,800
2,187
6,032
“
’
11,862
35,903
Silk broadstuffs.......... yds
9,018
8,284
Other artioles of silk only
Articles o f silk and other
24.464
46,819
m aterials.........................................
139,160
181,436
W oolen fabrics............ yds.
702,600 1,043,400
264,496
228,797
Worsted fa b r ic s .......y d s . 4,657,700 3,941,900
16,137
17,860
140,900
Carpets......................... yds.
123,600
24,618
32,517
Hardware and cutlery—
61,344
65,363
23,750
24,829
Iron and steel—P ig -. .tons
1,421
1,224
138
255
Bar, angle, & o..tons
65,657
15,463
Railroad.............tons
12,414
6,332
1,745
"è ïi
Hoops, sheet, Ac.tons
1,643
5,214
550
93
Cast and w ro’t..ton s
7,572
59,073
21,667
3,271
Old, for remnf tr.tons
190,754
261,888
14,435
17,637
T in -P la te s .................. tons
22,545
78,262
16,353
1,797
Steel, unwrought....... tons
2,794
225
16
228
L ead ..............................tons
2,001
2,209
385
476
Tin, unwrought....... cwts.
1,766
7,861
Steam-engines.....................
33,585
19,549
Other kinds of machinery.
5,250
5,197
Apparel and slops............
21,394
19,634
Haberdashery & m illinery
77,449
95,437
266,661
326,922
A lkali.......................... ewts.
989
2,222
11,128
17.202
Bags and sacks.......... doz.
11,966
5,876
5,471
2,630
Cement...................... cwts.
56,520
49,253
Earthenware & porcelain.
Paper—Writing, printing,
1,652
1,697
382
566
&o............ cwts.
1,153
2,165
432
595
A ll other kinds.cwts.
52,576
46,683
Skins and fu rs.....................
5,286
4,833
Stationery,oth’r than pap’r
The movements in the precious metals have been as follows
To and from all Countries.
GOLD.
Imports ln Jan, ..
Exports In Jan...,.
1887.
188a
£
£
£
1,027,691
522,601 1,610,881
390,290 1,175,946 387,530
SILVER.
Imports ln Jan....
Exports in Jan... .
851,228
730,588
1885.
861,333
686,158
619.179
730,927
To and from United States.
1885.
1886.
1887.
730
24,260
£
699,168
¿89,800
£
140
70,000
269,912
255.501
104,040
£
The grain trade continues to lose its firmness. Wheat is
still receding in value, and whenever sales are at all pressed
buyers have the advantage. What is telling against operators
for distant arrival just now is the very favorable nature of
the reports to hand respecting the appearance o f the crop3 in
India, California and Australia. Here the prospect so far is
about the average. Under the oircumstances buyers are nat
urally chary of operating in distant “ futures,” and are con
fining their dealings as much as possible to the supplying of
present or early requirements. The volume of “business has
thus become contracted and prices have suffered. Farmers
are not sending forward their produce anything like so freely
as they were last season, but the supplies offering are ample
for the demand. Statistical influences are considered adverse
to the trade at the present moment. It is estimated that the
proportion of last year’s wheat crop available for consumption,
after deducting 2% bushels per acre for seei, is only about
7,256,000 quarters; and as our estimated requirements are
placed at 263^ million quarters, it follows that we shall require
some 19 million quarters to be obtained either from stocks or
from foreign sources.
The following shows the imports of cereal produce into the
United Kingdom during the first 23 weeks of the season:
THE
266
CHRONICLE.
IM P O S T S .
1886-87.
1885-86.
1884-85.
1883-84.
W heat............ >...OWt. 22,046,087 23,058,888 21,845,475 26.746.486
6,637,983
8,626,538 9,569,847
Barley........................... 10,239.403
O a t » ............................... 7.046,609
4,933.386
5,044,769 5,949,499
P eas............................... 1,098,717
967,204
980,880
891,054
B e a n s ......................... 1,147.547
1,478.595
1,707,503 1,273,387
Indian co rn .................. 11,585,719 12,025,638
8,977,814 12,392,446
F loor............................. 7,282,241
6,404,518
7,198,603 6.996,148
Supplies available for consumption (exclusive of stocks on
September 1):
1886-87.
1885-86.
1884-85.
Im p o rtso f -wheat.owt.22,646,087 23,658,888 21,845,475
Im ports Of flour.......... 7.282,241
6,404,518 7,198,003
Bales o f hom e-grow n.. 16,593,029 20,003,434 22,528,729
1883-84.
26,746.486
6’,996*,148
21,159.568
F in a n c ia l m a r k e t s —P e r C a b le .
The daily closing quotations for securities, &c., at London
are reported by cable as follows for the week ending Feb. 25:
L ondon.
Mon.
Sat.
S ilver, per o z ........... ..d .
Consols fo r m o n e y ... . . .
Consols fo r a o o o u n t.....
Fr’oh rentes (in Paris) fr
U. B. 4*48 o f 1891...........
U. B. 4s o f 1907..............
Canadian Paoifio...........
Ohio. Mil. & Bt. P a u l....
E rie,com m on s t o c k ....
Illinois C entral..............
P en n sy lv a n ia.................
Philadelphia A Reading
N ew Y ork Central.........
Tues.
Wed.
Thurs.
4 6 t'i8 4611,6 4011,6 465,6
1001316 1001316 1OO1810 101
10013,« 100i316 1001316 101
78-37*2 78-70 79*20 79-40
110% 110%
110% 110%
130% 130% 130% 130%
64%
62%
63
63*8
933s
93
93%
93*2
34%
34%
34*6
34*6
132*2 132*2 131% 132%
57%
57*6
57*8
57%
10%
18 78
18*2
18%
11538 115% 11538 115%
Of the above imports for the week in 1887, $6,636 wers
American gold coin and $265 American silver coin. Of
the exports during the same time $39,074 were American
gold coin and $945 were American silver coin.
United States Sub-Treasury.—The following table show
the receipts and payments at the Sub-Treasury in this city as
well as the balances in the same, for each day of the past week •
Balances.
Date.
Receipts.
Payments.
Coin.
Coin Cert’s.
Currency.
F ri.
465,6 46%
100i5,a 100i6te
10015,e 10016,8
78-82*2 79-20
111*4 111%
131*8 131*8
64%
04*8
95
91*4
34%
35*8
132 *2 132*2
58%
58*4
19
19%
116
116*2
(ßamm&xtlxX iroÄ IJfctscjellattjeiws Hews
I mports and Exports for the W eek ,—The imports of last
week, compared with those of the preceding week, show an
increase in both dry goods and general merchandise. The total
imports were $9,812,895, against $9,583,474 the preceding
week and $8,906,091 two weeks previous. The exports for
the week ended Feb. 22 amounted to $4,294,047, against
$5,192,808 last week and $3,536,386 two weeks previous. The
following are the imports at New York for the week ending
(for dry goods) Feb. 17, and for the week ending (for general
merchandise) Feb. 18; also, totals since the beginning of the
first week in January:
19
21
22
23
24
25
$
1,421,056
2,378,503
$
$
1,195,221 133.078,815
1,365,078 132.897,230
$
15,836,903
17,038,473
$ ~
~
19,236,826
19.230,266
2,800,044
1,702,236
1,215,359
947,163 133,098.937
1,293,382 133,229,462
1,429,171 133,376,133
18,597,513
18,755,079
18,430,352
20,322,350
19,443.163
19,407,408
T o ta l..
T ota l..................... 46,521,357 50,060,840 51,552,807 54,902,202
1886-87. 1885-86. 1884-85. 1883-84.
A ver, price w heat..........week. 34s. 3d. 29s. 9d. 33s. 9d. 37s. 3d .
Aver, price wheat...... season. 32s. 6d. 30s. 7d. 32s. 6d. 39s. lO d .
E a e lU h
[V ol. XLIY,
9,517,198
6,230,015
Feb.
“
“
*
•
«
“
—Messrs. J. H, Davis & Co. offer a line of investments which
they recommend as first class, and they have always been very
careful, never commending to their customers any bonds in
which they did not have great confidence.
Auction Sales.—The following were sold at auction thin
week by Messrs. Adrian H. Muller & S on :
Shares.
]
Bonds.
100 Cleve. & P ittsbu rgR R .IS O 3 $15,000 Scioto & Hocking
«
40 Manhattan Life Ins. Co
Yal. RR. Co. Lanier mort.,
o f N .Y ................ 500 to 510
7s, due 1888..........................101%
17 N. Y. Life Ins. & Trust
$1,075 Phila. & Reading RR.
Co......................... 581 to 582
Co. Convert. Adj. SoriD, due
17 Merchants’ Fire Ins. Co. 105's
January, 1883. July, 1884,
24 American Fire Ins. Co. 176
Coupons o n ...................... .
52*a
1 Second Ave. RR. Co....1 6 7
$1,000 Jersey City 6s, Funded
75 Coe Brass Mfg. Co___$50 sh.
Debt, due 1909.......... 114% & int.
20 23d St. R.R . Co............. 250% $5,<>00 Memphis & Lit. Rook
30 St. Nicholas Bank........ 118
R R . Co. ist 8s, Ld. Gt. Bds.,
2 Brooklyn U nien Pub
due 1907. A ll unpaid Cou
lishing C o .....................$100
pons on .......... ........................ 112
Bonds.
$1,200 Western Union Tele
$2.500 Illinois Grand Trank
graph Co Dividend S c rip ... 66
RR. 1st, 8s, due 1890.......... 114*4
awiling wwä ffiwwnciwl.
United States Government and other desirable
SE C U R I T I E S
FOR
F O R E IG N IM P O R T S A T N E W Y O R K .
I N V E S T O R S .
For Week.
1884.
1885.
1886.
1887.
D ry G oods.........
Gen’l mer’dise..
$3,863,234
5,781,980
$3,205,668
4,685,102
$2,085,268
5,753,429
$3,270,8-8
6,541,997
T ota l............
Since Jan. 1,
D ry G oods.........
Gen’l m er’dise..
$9,645,261
$7,890,770
$7,838,697
$9,812,895
$20,442,186
39,486,623
$16,205,415
31,718,631
$17,674,011
38,539,832
$20,907,471
40,330,266
T o ta l 7 weeks..
$59,928,809
$47,924,066
$56,213,843
$61,237,737
The following is a statement of the exports (exclusive cf
specie) from the port o f New York to foreign ports for the
week ending Feb. 22,1887 and from January 1 to date:
A ll stocks and bonds listed on the New Y ork Stock Exchange bought
and sold on commission for cash.
Deposit accounts received and interest allowed on m onthly balances
subject to draft at sight.
H A R V E Y
FISK
&
SONS,
28 N assau Street , N e w Y ork ,
B A L T I M O R E & O H IO
CAR
T R U S T
RONDS.
EXPO RTS FRO M N E W Y O R K FO R THE W E E K .
1884.
1885.
1886.
1857.
F or the w e e k ...
P rev. reported..
$5,264,482
36,787,278
$5,417,915
41,951,109
$5,502,661
33,692,934
$4,294,047
32,378,932
Total 7 w eeks..
$42,051,762
$47,372,015
$39,195,595
$36,672,979
The aggregate o f this Issue o f bonds is $2,500,000, bearing interest at
the rate of Four and one-half per cent per annum, and payable semi
annually in January and July, and secured b y a m ortgage of new
rolling stock of the (Baltimore & Ohio Railroad Company made to the
The following table shows the exports and imports o f specie Mercantile Trust and Deposit Company o f Baltimore as Trustee.
at the port of New York for the week ending Feb. 19, and
The bonds date from January 1, 1887, and will be Issued in series
since Jan. 1, 1887, and for the corresponding periods in
1686 and 1885:
running from one to ten years, so that one-tenth o f the same, or two
hundred and fifty thousand dollars, is paid to the Trustee each year by
E X P O R T S A N » IM P O R T S O F S P E C IE A T N E W Y O R K .
the R ailroad C om pany; the m ortgage, how ever, binding the entire
Gold.
Exports.
Week.
Great B r ita in . . . . . . . .
F rance.......... ..............
German v ___ .1 ..........
West I n d ie s ................
M ex ico.........................
Booth A m e r ic a ..____
A ll other ooun triee...
T o ta l 1 8 87...........
T ota l 1 8 8 6 ..........
T ota l 1 8 8 5 ..........
Silver.
Great B r ita in .... ........
F r a n c e ........................
G e r m a n y ..................
West I n d ie s ________
M exico.........................
Booth A m erica..........
A ll other countries. . .
Total 1887...........
Total 1 8 86...........
Total 1885...........
$870
4,424
Imports.
Since J a n .l.
Week.
property until the last payment is completed.
Since J an.l.
They are strictly a first-class security, and we can recom m end them as
$1,578,107
992,589
356,910
262.179
2.7P2
43,445
1,920
a safe and most desirable investment, and now offer to the public a
limited number of Series 9 and 10, which have nine and ten years to
$ .........
50,000
$30,058
4,424
314,380
95,087
67,35Í
6,000
731,194
118,458
1,185
$128,645
2,788,804
335,400
$1,293,601
6,409,946
2,705,972
#9,850
504,232
323,159
$3,237.862
1,575,076
2,866,243
$296,500
$ .........
$ .........
97Ò
2,471
$1,091,500
178,542
5,800
12,053
15,899
9,286
9,471
21,468
4,080
i',225
156,474
13,350
66,368
$301,741
324.969
230,938
$1,325,551
2,331,184
2,310,143
$25,548
57,715
19,694
$237,417
134,993
133,604
1,800
8,665
run from January 1,1 887 , at 103 and accrued interest, subject to sale
and advance of price w ithout notice.
Prinoipal and interest payable at the office o f the Mercantile Trust
and Deposit Company of Baltimore.
G R IS W O L D & G IE E E T T ,
NO. 3 W ALL STREET, NEW YORK.
A form er member of the New York Stock E xchange w ou ld make
arrangements with a capitalist or banking house of A1 rating, who
would contribute $25,090 or over to transact an investm ent bond and
miscellaneous security business. Many years’ experience has demon
strated to the advertiser that this branch of Wall Street business is by
far the most lucrative, with the percentage o f risk very small as com
pared with that of speculative customers’ accou n ts; best references
given and absolutely required from principals only. Address BONDS,
Post office b o x 3,569, New Y ork City.
^lue jpatifem7 daxclle.
D I V I D E N D S .
l i e follow ing dividends have reoently been announced:
Per
Oent.
Name o f Company.
R a ilr o a d s .
Camden & Atlantic, p re f..............
Cinn. Ind. St. Louis & Chic, (quar.)
Chic. < Northwest., pref. (quar.).
fc
Eastern, pref. (quar.).....................
M is c e lla n e o u s .
Delaware & Hudson Canal (quar.)
When
Payable.
Books Closed,
(Days inclusive.)
3
1%
April 1
Mar. 15 Mar. 2 toMar. 23 Mar. 6 to Mar. 24
1%
Mar.
15 Feb. 26 to Mar. 15
W A L L ST RE E T , F R ID A Y , F ebruary 2 5 , 1 8 S 7 -5 P. M.
The Money Market and Financial Situation.—The holi
day here on Tuesday, February 22, and the occurence of Ash
Wednesday, had some influence both at home and abroad in
making a dull week.
The election in Germany on Monday was a remarkable vindi
cation of Bismarck’s policy, and amounted to a vote of confi
dence in the great trio— William, Bismarck and Yon Moltke—
who won for Germany in 1870 the reputation of being the first
military power of the world. The subjects apparently accept
the burden of taxation and service for the sake of the glory
and the provinces. The result had a calming influence on the
markets of Europe and America.
This week two more railroad settlements have been practic
ally accomplished—the Missouri Kansas & Texas and the Texas
& Pacific—and thus two more prominent companies are freed
from the ban of litigation which was interfering with their
progress. If Nickel-plate and Reading soon follow, the mar^
ket will have a brighter outlook by getting rid of more dead
wood, which always stands in the way of a healthy recovery and
keeps money locked up in securities that are not available.
There was a small export of gold this week, but exchange
rates declined later, and it was reported that the foreign markets
were rather buyers than sellers of our securities.
The open market rates for call loans during the week on
stock and bond collaterals have ranged from 2 to 5. per cent,
the usual rate to stock brokers being 3@ 4 per cent; to-day the
rates were 2 @ 4 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 £513,000, and the percentage of reserve to
liabilities was 50*15, against 51*28 last week; the discount rate
remains unchanged at 4 per cent. The Bank of France gained
2,275,000 francs in gold and 2,525,000 francs in silver.
The New York Clearing House banks, in their statement of
February 19, showed a decrease in surplus reserve of $3,130,400,
the total surplus being $15,479,200, against $18,609,600 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:
1887.
Feb. 19.
Differences fr’ m
Previous Week.
1886.
Feb. 20.
1885.
Feb. 21.
Loans and dis. $367,350,000 Ino .*1,763,300 *348,163,800 *298,231,500
97.006.700 101,616,000
91,647,200 Dec. 1,884,600
Specie. . . . . . . .
8,485,700
10,977,300
10,700
7,646,600 Deo.
Circulation...
992.400 395,094,100 352,171.000
Net deposits.. 391,778,800 Deo.
36,139.600
33.467.700
21,776,700 Deo. 1,493,900
Legal tenders.
Legal reserve *97,944.700 Deo. *248,100 *98,773,525 $88,042,750
Reserve held. 113,423,900 D eo. 3,378,500 130,474,400 137,755,600
Surplus...........
*15,479,200 Dec. $3,130,400
*31,700,875 *49,712,850
Exchange.—The demand for sterling exchange has been very
limited during the past week, though rates were pretty well
maintained unfil Thursday, when they were reduced one-half
a cent in consequence of the small inquiry. The purchases of
some stocks for foreign account and larger supply of grain bills
also had an influence in weakening exchange. Posted rates
are to-day 4 86 and 4 89, after being held one half cent higher
most of the week. Several shipments of gold were made this
week, amounting in the aggregate to $1,854,000, all of which
goes to Germany. These are 6aid to be the result of “ special
transactions” not having a direct bearing on the exchange
market; but the gold leaves New York all the same.
To-day the rates on actual business were as follows, v iz .:
Bankers’ 60 days’ sterling, 4 85@4 85$; demand, 488$@4 88f.
Catles, 4 89@4 89J. Commercial bills were 4 83$@4 83$;
Continental bills were: Francs, 5 20f @ 5 21$ and 5 18f@ 5 1 9 f;
reiohmarks, 95$@95f and 95$@96; guilders, 40$<g)40$ and
40$@40$.
r
lhe following were the rates of domestic exchange on
New York at the under-mentioned cities to-day: Savannah,
buying $ discount, selling 1-16 premium; Charleston buying par
@1 16 premium; selling $@ $ premium; New Orleans, commer
cial, 50c. discount; bank, $1 prem.; St. Louis, 50c. discount;
Chicago, 75c. discount.
267
THE CHRONICLE.
F ebruary 26, 1887.]
The rates of leading bankers are as follows :
Sixty Days.
February 25.
Demand,
4 86
4 89
Primebankers’sterling billa on London...
4 83% ® 4 84J-4
......... ...
Prim e c o m m e r cia l.........—
4 831434 83%i
............
Document ary com m ercial
20 ® 5 193»
'
Paris (fra n os).............. ......... }.•••••.......... 5 22*9®5 21ia 540&ia®40aa
40% ® 403i<j
Amsterdam (g u ild e r s ).....— - - - —............
95>4'39538 I 95 % ® 9578
Frankfort or Bremen (reiohm arks)............
Coins.—-The following are quotations ingold for various coins r
S o v e r e ig n s ........$4 84 ® *4 88
N a p o le o n s .......... 3 85 ® 3 89
X X R eiohm arks. 4 74 ® 4 76
X G u ild ers........... 3 96 ® 4 00
Span’hD oubloon s.lS 65 ® 15 75
Mex. D ou bloon s..15 58 ® 15 65
Fine gold b a r s ....
par® % prero
Fine silver bars .. —101%® 102 m
Dim es & % d im e s.— 99% ® par.
S ilv er 14s and % s. — 9 9 %'8— ——
F ive f r a n c s . . . . . . — 93 ® — 95
M exican d o lla r s.. — 79 ® — 80
D o unoom m ero’ i . — 78% ® — 7 9 %
P eruvian so ls....... — 78% ®
....
E nglish s ilv e r . . . . 4 80 ® 1 84
U. ».t r a d e d ollars
— ® nom 1.
U. S. s ilv er d o lla r s — 99% ® 100
United States Bonds.—Government bonds have been dull,
and there is no feature to the market. Prices have not changed
much, though the 4$s are a trifle higher than a week ago. The
Treasury Department has issued the 147th call for bonds,
retiring $10,007,750 of the 3 per cents on the first of April
next.
...
Interest Feb.
Periods. 19.
4%s, 1 8 9 1 ......... reg- Q.-Mar.
4%s, 1 8 9 1 .........coup. Q.-Mar.
4s, 1 9 0 7 .............. reg. Q.-Jan.
4s, 1 9 0 7 ...........coup. Q.-Jan.
3s, option U . 8 ....r e g . <3.-F eb.
6s, cur’ey, '9 5 — reg. ? . & J.
6s, cur’cy , ’ 9 6 ....r e g . J. & J.
J.
6s, cur’cy, ’ 9 7 ....r e g .. & J
6s, our’ ey, ’ 9 8 — reg. J. & J.
6s. our’ ey, * 9 9 ....reg. J. & J.
Feb.
21.
‘ 10378 *109
110 *110%
1283s 128%
*12838 *128%
*100 “ 100%
*126% *126%
*129% *129%
*131% *13178
*134% *134%
*137% *137%
Feb.
22.
Feb.
23.
Feb.
24.
Feb.
25.
109 *10914 109%
11018 *11014 110%
1283s 1281« 128%
C *12838 1281« 128%
8
noo%*ioo% *100%
O
H
126% *126% 126%
12918 *12918 129%
*13l% ]*13178 131 %
*134%,*134% 134%
*137141*13714 137%
State and Railroad Bonds.— In the State bond market
there has been no special activity except in tbe Virginia deferred
bonds, which have further declined, and close to-day at 12$
against 15$ last Friday. Other prices have not changed
much.
The railroad bond market generally has been pretty dull,
though there has been exceptional activity in a few classes at
certain times. Early in the week Missouri Kansas & Texas
general 5s and 6s advanced quite sharply on a good business,
said to be due to the settlement between Mr. Gould and the
scrip holders. They subsequently relapsed into dulness,
though the advance is pretty well maintained. Later in the
weelTthere was active buying of Texas & Pacific bonds, under
which they advanced 4 @4$ points, on the report of a settle
ment between the income bondholders and the reorganization
committee. Beyond these there was no special activity, ana
prices have not changed much, though the general tone has
been good and the market is firm to strong.
R ailroad and Miscellaneous Stocks.—In the early half of*
the week the market was very dull and featurelefls, operators
generally waiting the results of the German elections and their
possible effect. The fact that Tuesday (Washington’s Birth
day) was observed here as a close holiday also tended to in
crease the quiet aspect of business. After the holiday, however,
and when the result of the German elections was known to be
favorable to the Government, the market very decidedly im
proved, both in volume of transactions and in the tone of
prices. The upward reaction on the Continental bourses and a
demand from London for our stocks also assisted the improve
ment, which was very general throughout the list. The fact
that the market responded so easily to the increased demand,
indicates that the “ bulls” have still a pretty good hold on it,
and have only been waiting for a favorable opportunity t o
make a turn. While the improvement was general and indi
cates a healthy feeling, tbe rise was not extreme, but bad the
appearance of a genuine reaction from the recent dulness and
weakness.
In the case of a few stocks, however, the rise was more pro
nounced, and others still did not share in the improvement.
Among the former class, Texas & Pacific took the lead, rising
quite sharply on the announcement of a settlement with the
income bondholders, which removes all hindrance to the
reorganization. Union Pacific was also prominent in the
advance on the prospect that no unfavorable legislation will be
effected during this session of Congress, while Western Union
improved on the decision of Judge Ingraham, which was
unfavorable to the rival “ ticker” company—the Commercial
Telegram Co. The grangers also showed considerable strength,
due to favorable showing of earnings. On the other hand,
among the coal stocks, Jersey Central and Reading do not show
any improvement, though both have been active and fluctuated
somewhat. Taken as a whole, the market appears healthy,
and has had a fair reaction. The active stocks to-day embraced
Western Union, Canada Southern, Union Pacific, Milwaukee
Lake Shore & Western, Texas & Pacific, Erie preferred, Kansas
& Texas, and others less marked for large transactions.
268
THE CHRONICLE.
rvöl XLIV.
STOCKS-PRICES AT N. Y. STOCK EXCHANGE FOR WEEK ENDING F E B . 2 5 , AND SINCE JAN. 1, 1887.
HIGHEST AND LOWEST PBICE8.
STOCKS.
Saturday,
Feb. 19.
Monday,
Feb. 21.
A c tiv e K it . S to ck e .
*11% 12%
A tlantic & P acific................... .
12
12
Canadian Pacific......................
60% 6178 61% 62%
58
58%
Canada Southern.................... .
58% 59
70% 71
Central of New Jersey............
70% 71%
36% 36%
Central Pacific’. ....................... .
36% 367e
9%
9%
Chesapeake & Ohio..................
*8
8%
Do
1st p re f. *15% 16% *15% 16%
*10
11
11
Do
2d p r e f. *10
Chicago Burlington & Quincy, 139 139 *137% 139
C hicago Milwaukee & 8t.Paul
9 0 78 91% 90% 91%
121% 121%
Do
pref. '120 121
Chicago & N orth w estern___ 114% 114% 114% 115
Do
pref. k
140 141 *140 141
Chicago B ock Island & Pacific. 126% 126% 126% 126%
*16
17%
Chicago Sc. Louis & Pittsburg. *17
18
38
38
Do
pref.
38% 38%
48% 48%
Chicago St. Paul Min. & Om ..
49
49
Do
pref. *108% 108% *108% 108%
*62
64
ClevelandOol.Cin. & Indianap. 63
63
35% 35%
Columbus Hocking Val.& Tol
35% 36
Delaware Lackawanna ¿W est 13578 136% 135% 136%
Denver & Bio G., assessm’t pd
24
24
59
59%
Do
pref.
58% 58%
*13% 14
East Tennessee y a. & Ga. B ’y.
13% 14
77
77%
Do
1st pref.
77
77
26
26
Do
2d p r e f .
26
26
*86
87
Evansville & Terre Haute_
_
12% 12%
13
Green B ay Winona & St. Paul *12
*38
42
42
Houston & Texas Central___
*38
130 130
Illinois Central....... i ............... 1
Ind. Bloom. & West.,1st ass.pd *18
*18
20
20
93% 94%
94% 94%
Lake Shore & Mich. Southern.
Long Island............... ..............
9 7 78 97%
60% 61%
61
61%
Louisville & Nashville............
63% 63%
62
Louis. New Alb. & C hicago... *60
Manhattan Elevated, c o n so l.. 156 156% *156 156%
Memphis & Charleston............
57
58%
58% 59
Michigan Central......................
88% 88%
89% 89%
Mil. Lake Shore & W est.......... *70
71
71
73
*99 100
99% 100
Do
pref.
Minneapolis & St. Louis......... *18% 19
*18% 19
43
43
43% 43%
Do
pref.
Missouri Kansas & T exas.......
30% 3178 31
31%
Missouri P acific........................ 107% 108
107% 107%
Mobile & Ohio...........................
16
16%
84
85%
Nashv.Chattanooga&St. Louis *84% 85%
112% 113
New York Central & Hudson. 112% 113
6%
7%
6%
7%
New York Chic. & St. L o u is...
18% 18%
18% 19
Do
pref.
New York Lake Erie & West’n 33% 3378 33% 33%
71% 71%
71%
71
Do
pref.
New Y ork & N ew E n glan d...
61
61%
61%
61
New Y ork Ontario & West___
18
18
18
18
New Y ork Susq. & W estern...
127 13% 12% 12%
8
36% 36%
36% 37
Do
pref.
Norfolk & Western...................
21
21%
2 1 % 21%
48%
Do
pref.
47% 47%
48
Northern Paciflo.......................
27% 28
*27% 27%
59
59
59% 59%
Do
pref.
Ohio & Mississippi...................
26% 2 6 78 26% 26%
32%
Oregon < Trans-Continental.. 32
fc
32
32%
Peoria Decatur & E vansville.
35% 35%
35% 36
Philadelphia < B eading.........
fc
36% 37%
37% 38%
Biohmond & AUeg., receip ts..
11% 11%
Biohm ’d & W est P ’nt Ter minai 44% 44% 43% 44%
80
Do
pref 80
Borne Watertown A Ogdensb’g
St. Louis & San F ra n cisco...
32
31% 31 % *31
*64
65
*63% 65
Do
p r e f...
Do
_
1st pref 113 113% 112% 112%
St. Paul & Duluth...........
60% 60% *59% 60%
'109 110
Do
p re f....... .
St. Paul Minneap. < Manitoba 118 119% 118 118%
&
Southern Pacific C o...............
24% 24%
24% 25%
Texas & Paciflo, 2d ass. paid
Union Paciflo...........................
56% 56%
56% 56%
Wab. St. L. & P.,P. Com. repts
17
17
16% 16%
Do
pref.
28% 29
28% 28%
M is c e lla n e o u s S to c k s .
Colorado Coal & Iron ..............
38% 38%
37
38
Consolidated Gas C o...............
84% 85
84% 84%
Delaware ¿ Hudson C an al... 102% 102% 102% 102%
40
40
Oregon Im provem ent C o .. . . .
Oregon Bail way A Nav. C o ... 102% 102% 102 102
Paciflo M ail..............................
55% 56%
55% 55%
Philadelphia Co., Nat. G as.. . . 109 109
109% 109%
Pullman Palace Car C o.......... 145 145% 145 145
Western Union Telegraph___ 73% 74%
73% 74
E x p r e s s S to ck s.
A dam s......................................... 144 144 *141 144
A m erican.................................... 109 111 *109 111
United States............................. *62
64
62% 62%
Wells, Fargo ¿ Co................... ; '128 133
127 127
I n a c tiv e S to ck s.
Atohison Topeka & Santa Fe.
B oston A N. Y. Air-Line, p ref. 101 102 *101 102
Buffalo Boch. & P ittsburg___
36
36
37
37
Central Io w a .............................
12% 12% *11
13
Cinoin. Ind. St. Louis & Chio 103% 104
103% 103%
Cincinnati Wash. & Baltimore.
*5
6
*5
6
Do
pref.
*8%
9%
9*4
938
Denv. A Bio Grande Western. *20
21
Joliet Steel C o .........................
Morris ¿ Essex.........................
. . . . 141
139% 139%
New Y ork Lack. & W estern.. *105 107
Quicksilver Mining Co..........
*7
7%
*7
8
30% 31% *30% 31%
Do
p re f..
St. Louis Alt. & Terre H aute..
*32
33
St. Louis Ark. & Texas............
23
23
Toledo & Ohio Central............
34
34
*32
34
Do
pref.
58
*57
58
58
Cameron Iron & Coal..............
45
45
45
45%
New Y ork & Perry Coal.........
70
70%
70% 70%
Tennessee Coal & Iron............
46
46
V a r i o u s S t o c k s , A c . (Uni isted.)
Amer. Cotton Oil Trust..........
60% 59% 60%
59
Pine Line Certificates..............
60% 62
61% 63%
Lake E. & West., pf. when iss.
60
60
Kingston a P em broke............ *38
38%
Chio. & Ind. Coal B y . . . . ....... *51% 53%
52
52
Do
pref.
86
*85
*85% 86
Tuesday,
Feb. 22.
12
12%
12
63
63%
63%
59% 59%
59
703
4 68% 70%
37% 37%
37%
8%
*8
8%
15% 15%
16%
*9% 11
10%
138% 1 138% 138%
92
91% 92%
121% 121%
121
115% 115% 116%
141% 142
141
126% 126% 126%
17%
17% *16
38%
39% 39%
49% 49%
49%
108% 109 109
64
64
35% 35%
35% 36%
135% 136% 136% 136%
25% 25%
25% 25%
60% 60%
60% 61%
13% 14
13% 13%
76
77
77
76%
26% 26%
*25% 26%
86% 86% *86% 87
12% 13%
13% 13%
*35
42 *......... 40
128% 128%
17% 17%
94% 96
94% 94%
96
96%
61% 62%
61% 62%
62
63%
156% 157% 157% 157%
58% 58%
89% 90%
89% 89%
70% 70%
70% 71
99% 99%
99% 99%
18% 18%
*18
19
44% 44%
*43
44
31% 31%
31% 31%
107%= 10S% 108 108%
15% 15%
16% 16%
85% 86
84
84
113 113% 113% 114%
7%
7%
6%
7%
18% 18%
18% 19%
34% 34%
33% 34%
71% 72%
71
71%
61% 62%
61% 62%
18
18
18
18%
13% 13%
12% 13%
37
37%
36% 37
21% 21%
21% 21%
49%
48% 49%
48
28
28
28
28%
59% 60%
59% 59%
27%
27% 28%
27
32% 33
32% 32%
35% 35%
35% 35%
35% 37%
37% 38
11
11
45%
43% 44% 44
*78
80
84
84
32% 32%
32%
*30
64% 65%
65
65
113 113
*111% 113
61% 61%
61% 61%
1085« 108% *108% 110
117% 117%
11%
62%
58
70%
37
*8
*15%
10
138%
91%
121
114%
140%
126%
*17
38%
48%
*108%
-4
Q
M
M
25%
56%
17%
29%
26%
57%
17%
29%
38%
84%
102%
40
102
55%
110
145%
73%
39
84%
103%
40
L02
56%
111
145%
74%
26% 29
57% 59%
17% 18%
29% 30%
38%
84%
103%
41
102
55%
108
145%
74%
39%
85
103%
41%
102%
56
108
146
75%
Friday,
Feb. 25.
28%
57%
18%
30%
29%
58%
19
31%
*101 102 *101 102 *101
41
41
42
39% 40
13 *......... 13
*12
*10
103 103%
5%
5%
5%
5%
5%
9%
9%
9%
9%
*9
*20
*125
140 140% *140 141% 139
107% 107% *105 107
7
7%
7%
7
*6%
30% 30% *30
*30% 31%
32
32
*32% 33
32
24
24%
*32
34
34
*32
*32
*86
58
*56
58
*56
45%
45
45%
45
45
70% 70%
70% 70%
71
46% 47
46%
46
46%
102
42%
13
60
65%
59%
38%
59%
61
60%
39
52
86
60%
65%
60%
39%
53
86
Bange since Jan. 1,1887.
Lowest.
54,715 23% Feb.
94,520 53% Feb.
4,020 13% Feb.
3,545 23% Feb.
39
39
4,035
84% 84%
2,717
x !0 2% 10 2%
4,531
41% 41%
600
102% 102%
660
54% 55%
7,675
L09%
108
1,535
146
147%
3,701
75
76
83,723
145
111
63%
133
59%
62%
59%
*37%
Week,
Shares
12% 12%
7,990 10% Feb.
62% 63%
5,36( 59% Feb.
59% 60% 11,74C 52% Feb.
69% 70% 29,395 55% Jan.
37
37%
3,96( 33 Feb.
8%
8%
5£
8 Feb.
16%
*16
275 15 Feb.
*9% 11
30C
9% Jan.
138% 138%
41C 136% Jan.
92% 92% 85,225 85% Feb.
305 117% Jan.
121% 121%
115% 116
37,99C 110 Feb.
141% 141%
1,155 138% Jan.
126% 126%
1,446 125 Jan.
*17% 17%
16 Feb.
39% 39%
50C 35 Jan.
49% 50
4,28C 45% Feb.
109 109
50C 106 Feb.
64% 65
605 59 Feb.
35% 35%
8,46C 34 Jan.
136% 136% 41,705 131% Feb.
25% 25%
1.35Ê 21% Feb.
61
61%
4,907 56% Jan.
13% 13%
462 12% Feb.
*76% 77%
76C 71% Feb.
*26
26%
956 21% Feb.
86% 86%
30C 86% Feb.
13% 13%
3,85C 12 Jan.
*35
42
129% 129%
385 128% Feb.
*17% 18%
IOC 17% Feb.
95% 96% 55,617 90 Feb.
96
96
800
61% 62% 33,790 57 Feb.
63% 63%
710 58 Jan.
157 157%
2,800 154 Jam
58% 58%
2,300 51 Jan.
90
91
5,410 86 Jam
70% 74%
2,195 66% Jan.
100 103
9,652 98 Jan.
*18% 19
200 17% Feb.
44
44
600 40% Feb.
31% 32% 56,494 26% Feb.
108% 110% 12,352 104% Feb.
*16
412 14% Feb.
*84
86%
1,400 79% Feb.
113% 114
5,766 110 Feb.
7%
7% 10,890
6% 'Feb.
19% 20%
6,110 18% Feb.
34% 34% 79,312 29% Feb.
72
74%
9,275 65% Jan.
61% 62% 43,535 51 Jam
18% 18%
1,981 15% Feb.
2,255 11 Feb.
13% 13%
37
37
2,985 ■31 Feb.
21% 21%
1,595 17% Feb.
48% 49
5,095 43% Feb.
28% 28%
4,130 26% Feb.
60% 60%
9,792 56% Feb.
28
28% 14,305 22% Feb.
32% 33
6,905 29% Jan.
35% 36
5,875 30% Jan.
37
37% 245,877 34 Feb.
200
43% 45% 68,299 40 Jan.
79
79
400
85% 85%
18
*31% 32%
400 30 Jan.
65
65%
1,100 61% Feb.
112% 112%
980 112 Jan.
62
63%
1,815 55% Jan.
7 107 Jan.
117 117
3,357 113 Feb.
142 142 *141 145 *141
110 110 *109
108% 109
62% 62%
62
62%
63
129% 129% *128
127 127
These are the prices bid and asked; no sale was m ade at the Board.
Sales
Wednesday, Thursday,
Feb. 24.
Feb. 23.
59%
61%
60
39%
53%
*86
5%
9%
20S)
135 ’
141
7%
31%
32
34
58
45
71%
46%
35%
79
100%
38
96%
48%
105
139%
70%
Highest.
1 12% Jan. 3
4 68% Jan. 13
1 63% Jan. 3
3 71% Feb. le
3 43% Jan. 3
3
9% Jan. 8
4 17 Jan. 13
29 11% Jan. 20
13 140% Feb. 16
1 92% Feb. 10
8 121% Feb. 25
1 116% Feb. 24
29 142 Feb. 24
24 126% Jan. 6
1 18% Jan. 11
27 41 Feb. 5
1 51% Jan. 7
1 109% Jan. 3
1 65% Jan. 3
22 39% Jan. H
1 138 Jan. 3
3 28% Jan. 3
24 66 Jan. 13
1 17 Jan. 3
1 82% Jan. 13
1 32 Jan. 3
23 89 Jan. 3
28 13% Feb. 5
11 45 Jan. 3
24 135 Jan. 28
4 18 Feb. 2
1 96% Jan. 14
1 5 98 Feb. 8
3 67% Jan. 3
22 65% Jan. 3
5 158% Jan. 3
27 63% Jan. 7
27 93% Jan. 3
6 74% Feb. 25
4 103 Feb. 25
1 20 Jan 3
1 45% Jan. 13
} 33% Jan. 3
1 110% Feb. 25
1 19% Jan. 8
1 88% Jan. 3
1 114% Jan. 17
19 15 Jan. 15
21 28 Jan. 13
1 34% Feb. 25
29 74% Feb. 25
12 62% Feb. 25
4 20% Jan. 3
1 14 Feb. 14
1 38% Feb. 14
3 23% Jan. 3
3 54 Jan. 13
1 28% Feb. 25
1 61% Jam 3
1 29% Jan. 3
24 34% Jan. 3
3 36% Feb. 10
1 42% Jan. 20
27 11% Feb. 18
12 53 Jan. 17
1 1 87% Jan. 17
f 95 Jam 17
t
27 33 Jan. 17
2 67% Jan. 15
28 17% Jan. 8
7 63% Feb. 25
10 09% Feb. 7
1
25 36% Jan. 10
17 29% Feb. 25
4 62 Jan. 3
1 19 Jan. 3
1 35 Jan. 3
Feb. 1
Jan. 7
Feb. 1
Feb. 1
Feb. 1
Jan. 8
Feb. 15
Jan. 4
Feb. 1
40% Jan.
86 % Feb.
Jan.
47 Jan.
L04% Jan.
57% Feb.
Feb.
Feb.
76 Jan.
15 139% Jan. 4 146
86 107 Jan. 5 : 10%
281 62 Feb. 1*7 64%
51 126% Jam 25 .30
5
101 Jan. 8
33% Jan. 19
12 Feb. 16
7
5% Jan. 29
7% Feb. 5
90 Jan. 26
190 EAh 11
Ì,Ò 6 Ì'l3 9 Feb. 25
10 1 05 F Ah 2
120
6% Feb. 8
200 28 Jan. 4
150 30 Jam 8
700
31
19 34 Feb. 14
41 57 Jan. 24
1,555 39% Jan. 4
1,950 62% Jan. 3
1,070 44 Jan. 5
300
955
25
840
420
500
60
11,323 57%
62% 18,885000 60
60%
1,200 52
40
4,945 37
54
800
87
200
Feb. 15
Feb. 16
Jan. 5
Jan. 28
Feb. 10
Feb. 16
Jan. 11
Feb. 8
99% Feb.
Feb.
42% Feb.
Jan.
15%
■
L04 Feb.
7 Jan.
10% Jan.
23% Jan.
Feb.
Feb.
Feb.
8 % Jan.
33% Jan.
35 Jan.
25 Feb.
35 Feb.
58% Jam
49% Jam
71% Feb.
54% Jan.
L02
64%
72%
63%
41%
3
2
15
13
3
10
8
25
3
14
14
25
10
19
13
14
13
18
11
23
10
12
20
12
8
15
27
25
14
Jan. 3
Jan. 11
Jan. 20
Jan. 17
269
THE CHRONICLE.
F ebruary 26, 1887, |
j^N D S-L A T E ST PRICES OF ACTITE BONDS AT N. Y. STOCK EXCHANGE, AND RANGE SINCE JAN. 1, 1887
Closing.
Railroad Bonds.
Feb. 25 Feo. lb
Lowest.
28
2 5 4 Feb.
Atl. & Pac.—W. D. inc., 6s, 1910 28
86 Feb.
864
Guar., 4s, 1 9 3 7 ........................ 8 6 4
Can. South.—1st guar., 5s, 1908 1 0 5 4 1 0 5 4
93 Feb.
944
2d, 5s, 1913............................ . 9 4 4
Cen. Iowa—1st, 7s, ’99, coup, oft 89 4 a . 8 8 4b. 86 Feb.
Central o f N. J.—1st, 7s, 1890.. 10 64b. 1064b.
Consol. 7s, 1899, assent........... I l l b. 1114
Jan.
Convert. 7s, 1902, assent......... I l l b. 1114
Adjust. 7s, 19 o3 ....................... 1064b. 107 b.
b378 Jan.
Convert, deb. 6s, 1 9 0 8 ... ..... 8858b. 87
1144b. .10 Jan.
Le’li & W .B.,oon.7s, 1909,as’nt 1 1 4 4
Am. Dock & Im p., 5s, 1921. .. 10 24a. 102 b. 99 Jan.
Central Pacific—gold 6s, 1895-8 11458b. 1134b.
San Joaquin Br. 6s, 1900......... 1134b. 112 b.
1034b.
Land grant 6s. 1890................. 1 0 3 4
........ L13 Feb.
Cbes. & O.—Pur. m. fund 6s, ’98
7 6 4 Jan.
774
6s gold, ser. B .1908, coup, oft 78
Extern coup., 4s, 1 9 8 6 ............ 73 b. 73 b. 73ia Jan.
2 7 4 b . 27 Feb.
28
6s, currency, 1 9 1 8 .................
Mort. 6s, 1911............................ 9 9 7ea. 9 9 4 a . 975(5 Jan.
Ches. O. & 8o. W.—5-6s, 1 9 1 1 ... 103 b. 103 a. .01 Feb.
115 b. .15 Jan.
Chicago & A lton—1st, 7s, 1893. 116
106
.0 4 4 Jan.
Chio.Bur. & Nor.—1st, 5s, 1926. 1 0 6 4
.06 Jan.
1074
Ohio. Burl. & Q.—Deb. 5s, 1913. 108
98 Feb.
98
Denver Divis., 4s, 1922...........
Chio. & Ind. Coal R., 1st, 5s, ’36 1004b. 101 b. 98*2 Jan.
1214b. 121 b. .20*2 Jan.
Ch.Mll.& St.P—1st, I . * M.7s, ’ 97
.28 Jan.
Consol. 7s, 1905....... ............ . 1284b. 129
L15 Feb.
1st, So. Min. D iv —6s, 19 10.... 117 b. 11678
1st, Chi. & Pao.W .Div—5s, ’ 21 1074b. 107 b.
10 64b. 106 b.
Wis. & Min. D iv.—5s, 1921 —
1034
Terminal 5s, 1 9 1 4 ....................
Feb.
Chic. < N. W.—Consol. 7s, 1915 139 b. 1 4 0 4
fc
Feb.
Gold, 7s, 1902........................... 131 a. 1304b.
120 a. 1184b.
Sinking fund 6s, 1929........... .
Jan.
Sinking fund 5s, 1929.............. 109 b. 1 0 8 4
Sinking fund debent. 5s, 1933 10 94a. 109
25-year debent. 5s, 1 9 09........ 10 74b.
Jan.
Chi. R. I. & Pac.—6s, ooup. 1917. 1314 b . 1314b.
Exten. & col. 5s, 1 9 3 4 ... ........ 10 94b. 10978b.
1204b. 1 2 04
Ch. St.P..M.& O.—Consol. 6s. ’30
L26 Jan.
St. Paul & 8. C. —1st, 6s, 1919 127 a. 127
Gh.St.L.* Pitts.—1st, con. 5 s,’ 32 100 isa. 101 b. 9 8 4 Jan.
L07 Jan.
a C. C. & Ind.—G od. 6s, 1934 .. 1094a. 1 0 8 4
99 b. 98i2 Feb.
Col. Coal & Iron—1st, 6s, 1900.. 99
85
8378 Jan.
Col. H. Val. & Tol.—Con. 5s, ’ 31 8 5 4
82 a. 80 Jan.
Gen. gold, 6s, 1904 .................
L184 Feb.
Denver* Rio Gr.—1st,7s, 1900 11 94b. 120
7 6 4 Feb.
78
1st con. 4s, 1936 ...................... 7 8 4
Den. & R. Gr. W .- 1st, 6s, 1911. 7 9 4 b . 79 b. 80 Jan.
77 b. 77
76 Jan.
Assented.....................................
Den. So. Pk. & Pac.—1st, 7s, ’05 7 5 4 b . 7 8 4 a . 75 Jan.
534
5058b. 4 9 4 Feb.
Det. Mac. & M.—Ld. gr. 3 4 s , 1911
9 8 4 Feb.
994
E. Ten.V. & G. R y.—Con.,5s, ’ 56 9 9 4
1.05 Jan.
Eliz. Lex. & B. Sandy—6s, 1902. 1074b. 107
Erie—1st. consol, gold, 7s, 1920 135 b. 136
Long Dock, 7s, 1893 ............ . 114 b. 114 b.
Con. 68 ,193 5.......................... 118 b. 117 b. 115 JaD.
93% Feb.
974
N.Y.L.E.&W—2d con. 6s, e x o . 9 9 4
8 8 4 Feb.
Funded coupon, 5s, 1 9 6 9 ... 90 b. 9 0 4
89 4 b . 8 8 4 Jan.
904
Ft. W. & Denv. C. -1 s t, 6s, 1921
Gal.Har.* San.Ant.—1st, 6 s,’ 10 107 b. 107 b. 06 Feb.
1104a. 1104a. .10 4 Jan.
2d M., 7s, 1905 .......
West. Division—1st, 5s, 1931. 9 7 4 a . 9 7 4 a . 9938 Feb.
9 1 4 b . 9 2 4 Jan.
2d, 6s, 1931...................
Gr’nB. W. & S t .P —1st, 6s, 1911 9 8 4 b . 9 9 4 a . 99 Jan.
38 Jan.
404
3 9 78
2d income 8s, 1911.........
Gulf Col.& San.Fe—ls t,7 s, 1909 12 L b. 121 b. 1 2 0 4 Jan.
104
104
1 0 1 4 Jan.
Gold, 6s, 1923..................
Henderson Br. Co.—1st, 6s, 1931 1094b. 10958b. 1083Ö Jan.
1 1 2 4 Jan.
H.&Tex.C.—IstM .L . 7s, cou. oft 1 1 4 4 114
108 Jan.
1st, West. D., 7s, 1891, cou. off. 1084b. 1 0 8 4
113 b. 113 b. 113 Feb.
98 b. 94 Feb.
2d, consol. M. L. 8s, 1912___ 100
69 b. 70 a. 6 6 4 Feb.
Gen. mort. 6s, 1921................
1 1 Central—1st, gold, 4s, 1951 107 b. 1C6 b. 107 Feb.
1.
98 a. 98 a. 98 Jan,
Gold, 3*28,1951......................
122 b.
1 1 9 4 Jan.
9 6 4 b . 9 1 4 Jan.
9678
1st, 5-6s, 1909..........................
84
83 b. 7 7 4 Jan.
2d, 5-6s, 1909...........................
9 5 4 b . 96 b. 91 Jan.
Eastern Division—6s, 1 9 2 1 ..
3 0 4 Jan.
334
Income, 6s, 1921................... . 3 1 4
Int. & Gt.Nor.—1st, 6s, g o ld ,’ If 1194b. 118 b. 117 Jan.
9 5 4 b . 95
93 Jan.
Coupon, 6s, 1 9 0 9 ...................
64 Jan.
71 b. ' 72
96 b. 9 5 4 b . 9 5 4 Jan.
LakeSh.-Con.coup.,1st, 7s,190( 124 b. 125 b. 126 Jan.
Con. coup., 2d, 7s. 1 9 0 3 ..___ 12 24b. 123 b.| 1 2 2 4 Jan.
121 Feb.
Long Island—1st, 7s, 1 8 98.......
1st, consol., 5s, 1931.............. i lÖ b. 11434b. 113 Feb.
Lou. & Nash.—Consol., 7s, 189S 1204b. 120 b. 119 Jan.
N. O. & Mobile—1st, 6s, 1930 105 b. 105 b. 105 Jan.
90 b. 90 b. 9078 Jan2d, 6s, 1930...........................
E. H. & N.—1st, 6s, 1919....... 1144b. 1144b. 115 Jan.
107 Jan.
General, 6s, 1930..................... 1 0 8 4 108
Trust Bonds, 6s, 1922............ 1077ab. 1 0 7 4 1 0 4 4 Jan.
98 Jan.
10-40, 6s, 1924......................... 98
Lou. N. A. & Ch.—1st, 6s, 1910. 109 a. 109 b. 109 Jan.
94 b. 95 Feb.
964
Consol., gold, 6s, 19 16..
101 b 100 b. 101 Jan.
Metro. Elevated.—1st, 6s, 1908 1184b. 1 1 8 4 117 Jan.
2d, 6s, 1 8 9 9 ............................ 1 1 0 4 b 1104b. 10978 Jan.
129 b. 130
1 2 7 4 Jan.
1 1 4 4 Feb.
1 1 5 4 116
Miss’riPac.—1
124 b 12 34b. 122 Jan.
3d, 7s, 1906.
1024b 1 0 2 4 102 Feb.
1 0 8 4 Feb.
2d mort., 7s, 1891.
Note - The letter “ b” indicates price bid, and “ a” price
SECURITIES.
Bid.
Ask.
Railroad Bonds.
Highest.
2 9 4 Jan.
90 Jan.
106 Jan.
9 5 4 Jan.
9 0 4 Jan.
110 Jan.
112 Feb.
1 1 1 4 Feb.
1 0 7 4 Jan.
89 Feb.
116 Feb.
103 Feb.
1 1 5 4 Jan.
112 Jan.
1035a Feb.
113 Feb.
»1 Jan.
7 5 4 Jan.
32 Jan.
100 Feb.
1 0 5 4 Jan.
116 Feb.
1 0 6 4 Feb.
108 Feb.
99 Jan.
1 0 1 4 Feb.
1 2 2 4 Jan.
130 Jan.
118 Feb.
109 Jan.
10678 Jan.
1 0 3 4 Feb.
142 Jan.
133 Jan.
120 Jan.
1 0 9 4 Jan.
110 Jan.
1 0 3 4 Jan.
135 Jan.
1 1 0 4 Feb.
1 2 2 4 Jan.
1 2 7 4 Jan.
102 Feb.
109 Jan.
1 0 2 4 Jan.
8878 Jan.
91 Jan.
1 2 0 4 Feb.
80 Jan.
8 1 4 Jan.
78 Jan.
80 Jan.
53 4 Feb.
9 9 4 Jan.
108 Jan.
136 Jan.
114 Jan.
118 J an.
100 Jan.
9 2 4 Jan.
9 0 4 Jan.
106 Feb.
111 Jan.
1 0 0 4 Jan.
9 2 4 Feb.
103 Jan.
4 0 78 Jan.
1 2 2 4 Jan.
104 Feb.
1 0 9 4 Jan.
1 1 4 4 Feb.
110 Jan.
113 Feb.
100 Feb.
72 Jan.
1 0 8 4 Jan.
9 9 4 Jan.
120 Jan.
97 Feb.
86 Jan.
96 Feb.
3 4 4 Jan.
1 1 8 4 Feb.
96 Feb.
72 Feb.
100 Jan.
128 Jan.
124 Feb.
1 2 1 4 Jan.
115 Feb.
1 2 1 4 Feb.
106 Jan.
9378 Jan.
115 Jan.
1 0 8 4 Jan.
108 Feb.
9 8 4 Feb.
1 1 0 4 Jan.
9 6 4 Jan.
102 Jan.
119 Jan.
111 Feb.
130 Feb.
1 1 6 4 Jan.
124 Feb.
105 Jan.
110 Jan.
Feb. 25 Feo. 18
Range since Jan. 1.
Lowest.
Feb.
1
Mil. Lk.Sh. & W.—1st, 6s, 1921. 11 8 4 b . 1 1 9 4
Jan.
115 b. 1
Michigan Div.—1st, 6s, 1924^ 116
Jan.
13 24b. 133 b. 1
Minn. & St. L.—1st, 7s, 1 9 2 7 ....
87 b. 867e Feb.
Imp. & Equip.—6s, 1 9 22......... 90
9 6 4 Feb.
9 7 78
Mo. K .& T ex.—Con., 6s, 1920... 1 0 0 4
8 3 4 Feb.
844
Consol., 5s, 1 9 2 0 ..................... 8 7 4
110 b. ]
Consol., 7s, 1904-5-6....... .........
Mobile & Ohio—New, 6s, 1927 .. 10 94b. 109
Jan.
1st, Extension, 6s, 1927.......... 104 b. ............ ]
60 Jan.
62
ls tp r e f. d eben tu res,7 s. . . . . . . 66
8 4 4 b . 8 4 4 Feb.
85
Mutual Un. Tele.—S. f., 6s. 1911
Nash. Ch. & St. L.—1st, 7s, 1913 128 b. 128 b. ]
N.Y. Central—Extend., 5s, 1893 106 b. 106 b. ]
N .Y .C .& H .—1st, op., 7s, 1903 133 b. 13 44a. ]
Debenture, 5s, 1904.......... 1097a 1095ab. 1084 Jan.
Feb.
N.Y.& H ar.—1st, 7s, 1900....... 132 b. 132 a. ]
85 Jan.
98
N.Y.Chio.&St.L.—1st, 6s, 19 21.. 97
2d mort., 6s, 1923..................... 95 b. 96 b. 70 Jan.
6 5 4 Jan.
694
N.Y. City& N o.—Gen., 6s, 1910 . 715s
N.Y. Elevated—1st. 7s, 1 9 0 6 .... 12278a. 122 b. ]
1274b. 126 b.
N. Y. Lack. & W.—1st, 6s, 1921.
Feb.
Jonstruction, 5s, 1923............ 107 b. 107 b. ]
Jan.
1094b. ]
N. Y. Ont. & W.—1st. 6s. 1914.. 1 1 04
N.Y.Sus. & W —l s t ,6 s ,’ ll,c p .o fl 91 b. 92 b. 9 1 4 Jan.
70 b. 69 Feb.
Debenture, 6s, 1897, coup, oft
Jan.
Midland of N. J.—1st, 6s. 1910 112 b. 113 b. ]
80 a. 7 5 4 Feb.
N, O. Pacific— 1st, 6s, 1920........ 8 5 4
Feb.
North. Pacific—1st, coup.,6s, ’ 21 1 1 6 4 1 1 6 4 1
Gen’l, 2d, coup., 1933.............. 1065s 1 0 6 4 1
James R. VaL -1 s t, 6s, 19 36.. 108 b. 103 b. 1
Jan.
1044b. 1
N. Pac. Ter. Co.—1st, 6s, 1 9 3 3 ... 104
Feb.
Ohio & Miss.—Consol., 7s, 1898. 118 b. :...........]
Jao.
119 a. 1
2d, consol., 7s, 1911................. 115 b.
Jan.
............ 1
Springfield Div.—7s, 1905 . . . .
1st, general, 5s, 1932............... 89 b. 91 a.
Jan.
Ohio Southern—1st, 6s, 1921. .. 104 b. 104 b. 1
2d, inc., 6s, 1921....................... 4 1 4 b . 42 b. 40 Jan.
Oregon Impr. Co.—1st, 6s, 1910 92 b. 92 b. 9 2 4 Feb.
.08 Jan.
Ore. R. A N av.C o.—1st, 6s, 1909 1094b. 10 94b. 1
Consol., 5s, 1925...................... 104 b. 10 34b. ] .0 2 4 Feb.
10 04b. 1.00 Feb.
Oregon & Transoon.—6s, 19 22.. 10 14b.
Peo. Deo. & Evans.—1st, 6s, ’ 20. 110 b. 110 b. ] .13 Feb.
Inoorae, 6s, 1920....................... 84 a. 8 4 4 b . 8 1 4 Jan.
Evansv. D iv— 1st, 6s, 1 9 2 0 ... 110 b. 11 14b. 3.10 Jan.
Incom e, 6s, 1920.................... 84 a. 8 4 4 b . 7 9 4 Jan.
66 Jan.
70
Rich & All.—1st, 7s, 1920, tr. rec 72
Riohm. * Dan.—Cons., 6s, 1915 1124b. ............ 1 .13 Jan.
112 a. 3.06 Feb.
Debenture, 6s, 1927 ................
Roch. & Pitts.—1st, 6s, 1 9 2 1 ... 116 b. 116 b. 3.14 Feb.
Consol., 6s, 1922....................... 110 b. 1094b. 3.08 Jan.
Rome W. & Ogd.—1st, 7s, 1891. I l l b. ............ 1 .10 Jan.
10 24b. 1.02 Feb.
Consol., extend., 5s, 1922....... 103
...........1 .02 Jan.
Income, 7s, 1932.......................
1 0 6 4 1.06 Feb.
1074
St Jo. & G d.Isl.—1st, 6s, 1925 .
2d, incom e, 5s, 1925 .............. 7 1 4 b . 7 2 4 b . 71% Jan.
.14 Jan.
St. L. A lt.* T.H.—1st, 7s, 1894. 114 b. 11 44b. J
2d, M., pref., 7s, 1 8 9 4 .............. 110 b. 110 b. : .10 Feb.
.07 Feb.
1074b. 10 74b. 3
2d., M., inc., 7s, 1894...............
Dividend bds, 6s, 1 8 9 4 ............ 40 a. 35 b. 35 Jan.
98 4 Feb.
9 9 4 b . 100
St. L. Ark. < T ex.—1st, 6s, 1936
fc
52
4 9 4 Feb.
2d, 6s, 1 9 36............................... 5 3 4
1114b. .11 Feb.
III4
St. L. & Ir. Mt.—1st, 7s, 1 8 9 2 ...
11 34b. :.13 Jan.
2d mort., 7s, 1897..................... 114'’
9 6 4 b . 95 Jan.
Gen. R y. & land gr., 5s, 1931. 9 7 4
St. L. & San F r .- 6s., Cl. A ,1906 115 b. 115 b. :
115 b. ............
6s, Class B, 19 03.............
11 44b. 11 54a.
6s, Class C, 1906.............
10838b. :
110
Gen’l mort., 6s, 1931___
So. Pac., Mo.—1st, 6s, 1 8 8 8 ... 1014b. 1015eb.
112 b. 112 b.
St. Paul M. & M.—1st, 7s, 1909.
Feb.
119ia 119
2d, 6s, 1909......................
119 b. 1195s
1st cons., 6s, 1 9 3 3 .........
96 Jan.
97
96
39 a. 40 a. 39 Feb.
Gen’l mort., 6s, 1921............
So. Carolina—1st, 6s, 1 6 2 0 .... 107 a. 107 b.
96 b. 80 Jan.
2d, 6s, 1931.............................
20 b. 23 b. 24 Feb.
Inc., 6s. 1931..........................
1104b.
So. Pao., Cal.—1st, 6s, 1905-12 11 24b.
Feb.
So. Pac., Ari.—1st, 6s, 1909-10 1104b. 110 a.
10 54b.
So. Pac., N. M.—1st, 6s, 1911.
5 8 4 Feb.
65
584
Tex. & Pac.—Inc. & ld gr, 7 ' “
6 8 4 b . 64 Feb.
7 5 78
66 b. 66 Feb.
68
87 b. 89 Jan.
Toi. A. A. & N. M.—lst, 6s, 1924. 8 9 4
Jan.
10 44a.
Toi. A. A. & Gr.Tr.—lst, 6s. 1921
Jan.
110
Toi. Peor. & West—ls t, 7s, ’ 17 . Ï 0 9 4
95 Jan.
974
Toi. & Ohio Cent.—ls t, 5s, 1935 9 7 4
L14 Jan.
Union P acific—
lst, 6s, 1896-9.. 1 1 4 4 1 1 4 4
Land grant, 7s, 1837-9............ 103 b. 1027ab. 102 Jan.
Sm kingfund, 8s, 1893............ 1194b. 1 1 9 4
Kan. Pacific—ls t , 6s, 1895— 109 b. 111 a. 1 1 1 4 Feb.
ls t, 6s, 1896.......................... . I l l b. I l l b.
1147eb. 114 Jan.
Denver D iv.—6s, 1899......... 115
105 Feb.
106
ls t consol, 6s, 1 9 1 9 .......... . 105
102 Feb.
10 24b. 102
97 Jan.
98 a.
Virginia Mid.—Ino., 6s, 1927.
51 b 48 b. 49 Jan.
Wab. St.L. & Pac. - Gen., 6s,
89 Feb.
92
Chicago Divison—5s, 1910.
944
8 5 4 b 8 5 4 b . 8 5 4 Jan.
Wabash—Mortgage, 7s, 190
1 1 0 4 Jan.
113
114
Tol. & Wab.—lst, ext., 7s,
1104a. 106 Jan.
ls t , St. L .D iv.. 7s, 18 89..
1104
1 0 0 4 b 10 14b. 99 Jan.
2d, extended, 7s, 1 8 9 3 ...
85 b 90 a. 90 Jan.
Con., oonv., 7s, 1907...........
1124b. 109 Jan.
113
99 Jan.
1 0 14
2d, 7s, 1893.
1014
1 1 2 4 1124b. ILO Jan.
L024 Jan.
West Shore—Guar., 4s.
1 0 2 4 103
Highest.
1 2 1 4 Jan.
117 Jan.
133 Jan.
90 Jan.
1 0 0 4 Feb.
8 8 4 Feb.
1 1 3 4 Jan.
110 Jan.
106 Jan.
66 Feb.
8 5 4 Jan.
130 Jan.
1 0 6 4 Feb.
1 3 4 4 Jan.
10978 Feb.
133 Jan.
9 9 4 Feb.
97 Feb.
7 3 4 Feb.
123 Jan.
128 Feb.
110 Jan.
1 1 0 4 Feb.
95 Feb.
7 1 4 Jan.
114 Jan.
8 5 4 Feb.
117 Feb.
1 0 7 4 Jan.
1 0 9 4 Feb.
105 J an.
1 1 9 4 Jan.
119 Jan.
111 Jan.
1 0 7 4 Jan.
4 7 4 Jan.
9 4 4 Jan.
110 Feb.
106 Jan.
1 0 2 4 Jan.
114 Jan.
85 Jan.
112 Feb.
85 Feb.
7 2 4 Feb.
1 1 3 4 Jan.
107 Jan.
114 Feb.
108 Jan.
1 1 0 4 Jan.
1 0 3 4 Jan.
107 Jan.
1 0 7 4 Jan.
7 3 4 Jan.
114 Jan.
111 Feb.
108 Jan.
38 Jan.
1 0 0 4 Jan.
55^4 Jan.
115 Jan.
11438 Jan.
99 Jan.
1 1 5 4 Jan.
1 1 6 4 Feb.
1 1 6 4 Jan.
111 Jan.
1 0 4 4 Jan.
1 1 0 4 Jan.
120 Jan.
120 Jan.
100 Jan.
43 Jan.
1 0 7 4 Jan.
80 Jan.
2 8 4 Jan.
1 1 2 4 Jan.
110 Feb.
10638 Feb.
6 6 4 Feb.
7578 Feb.
6 9 4 Jan.
92 Jan.
1 0 4 4 Feb.
112 Feb.
9 9 4 Jan.
115 Jan.
10238 Jan.
120 Feb.
1 1 4 4 Jan.
112 Jan.
115 Jan.
107 Jan.
1 0 7 4 Jan.
99 Jan.
60 Jan.
95 Feb.
88 Feb.
114 Feb.
1 1 1 4 Jan.
1 0 3 4 Jan.
9 5 4 Jan.
113 Feb.
1 0 3 4 Jan.
1 1 2 4 Feb.
L034 Ja n ._
a sk ed ; all other prices and the range are from actual sales.
S T A T E BONDS.
SECURITIES.
Missouri—6s....... due 1889 or 1890
Asylum or University, due 1892
113 115
Funding........................ 1894-1895
104 1 0 5 4
New York—6s, loan..................1892
105
6s, l o a n . . . . . . .......................... 1893
104
North Carolina—6s, o ld ............ J&J
29
28
Funding a c t ............................1900
21
New bonds, J. & J ___1892-1898
74
84
Chatham R R ..................................
1084 K 9 4
Special tax, C l a s s i . . . . . . . . . .......
95
Consolidated 4 s..................... 1910
844 844
6s.............................................1 9 1 9
108
Alabama—Class A , 3 to 5 ........1906 1 0 8 4 110
Class B, 5 s..............................1906
Oiass C, 4s,....................... ....1 9 0 6
6s, 10-20..................................1900
Arkansas—6s, fu nded.. 1899-1900
7s, Little R ock & Fort Smith, iss.
7s, Memphis & Little Rock, iss..
7s, Arkansas Central R R ............
Georgia—7s, g old ............ ........ 1890
•Louisiana—
7s, c o n s.. . . . . . . . . . 1 9 1 4
Stamped, 4s...................................
Michigan—7s............................. 1890
Closing.
Range since Jan. 1.
Bid.
Ask.
SECURITIES.
Rhode Island—6s, c o u ..1893-1894
107
South Carolina—6s, non-fund. 1888
112
Brown consolidated 6 s ....... 1893
115
Tennessee—6s, old .........1892-1898
115
Compromise, 3-4-5-6S........... 1912
118
New settlement—6 s.............. 1913
35
5s........................................... 1913
12
3 s.......................................... 1913
22
Virginia—6s, o ld ................................
10
6s, consolidated bon ds.................
124
6s, consolidated, 2d series....... .
101
6s, deferred, trust r e c...................
1254 1264
Bid.
116
6
1094
65
764
1064
1024
784
48
90
65
12
7
66
77
......
784
270
THE CHRONICLE.
[Voi. XLTV
,
BONDS—STOCK EXCHANGE QUOTATIONS ON FRIDAY OF INACTIVE RAILROAD BONDS.
SECURITIES.
Bid.
Ask.
SECURITIES.
Bid.
Ask.
SECURITIES.
Bid. Ask.
Railroad Bonds.
(Stock Exchange Prices.)
A tch. Top. & San. Fe—4*«s ...1 9 2 0
Sinking fund. 6 s ................... 1911
Balt. & Ohio—1 st6s, P arkB ..1919
5s, g o l d ............... ................1 925
R ooi ntpvod
Bost. H. Tun, < W.—De’b Vss".'1913
fe
Burl. Cedar Rapids & Nor—
1st 5s ................................. ...1 9 0 6
Consol. & col. tr, 5s.............. 1934
R egistered..................................
Minn. & St. L .—1st 7s, gu . .1927
Iow a C. & W est.- 1 s t 7 s ....1 9 0 9
Ced. Rap. I. F. & N., 1st 68.1920
1st 5 s .................................... 1921
Buff. N .Y .& Phil.—Cons. 6 s ...1 921
Trust certificates...........................
General 6s,..............................1924
Trust certificates........................
Central I o w a Eastern Division—1st 6 s . ..1912
Illinois Division—1st 6s....... 1912,
Chesapeake & Ohio—
6s, gold, series A ................... 1908
Ches. O. & So. West.—
2d 6 s ,....................................... 1911
C hicago & A lton—
Sinking fund, 6 s..................... 1903
Louis. & Mo. River—1 st7 s .. 1900
2d 7 s . . . ; ............................... 1900
St. L. Jacks.& Chic.—1st,7 s .1894
1st, guar. (564), 7 s............ 1894
2d mortg. (360), 7s............ 1898
2d, guar. (188), 7s...............1898
Miss. R. Bridge—1st, s.f. 68.1912
Chic. Burling. & Q u in c y Consolidated, 7 s ....................1903
Os, sinking fu n d .: .................. 1901
Iow a D iv .-S in k , fund, 5s.. 1919
Sinking fund, 4 s ................ 1919
Plain, 4 s ___: ...........................1921
Chic. Burl. & N o .-D e b . 6 s . . . . 1896
Chi. R. Isl. & Pac.—6s, c o u p ..1917
R egistered.......................................
E xt. & Col., 5 s .......................1934
■ R egistered...............................
Keok. & D oeM .—1st, 5 s . . . . 1923
Chicago Milwaukee & St. Paul—
1st, 8s, P. D . . . .....................1898
2d, 7 3-108, P. D ................... 1S98
1st, 7s, $ g., R. D .................. 1902
1st, La Crosse Division, 7 s.. 1893
1st, I. & D .,7 s ........................1899
1st, C. & M ., 7s.......................1903
1st, 7s, I. & D. E x t............... 1908
1st, S. W. Div.. 6s..................1909
■1st, 5s, La C. & D a v .............1919
1st, H. & D . , 7 s ..................... 1910
1st, H. & D „ 5 s...................... 1910
Chicago & Paciflo Div., 6 s ..1910
Chic. < Mo. Riv. Div., 5s . ..1926
&
Mineral Point Div., 5s.........1910
C. & L. Sup. D iv., 5 s............ 1921
Fargo & South., 6s, Assu ...1 9 2 4
Dakota & Gt. South., 5s.......1916
Chicago & Northwestern—
Extension bonds................... 1926
Escanaba & L. S.—1st, 6 s .. .1901
Des M. & M in n .-1st, 7 s ___1907
Iow a Midland 1st, 8 s .........1900
Peninsula—1st, oonv., 7 s . . . 1898
Chic. & M ilwaukee—1st, 7s. 1898
Win. & St. P . - 2d, 7s.............1907
Mil. & Mad.—1st, 6 s ............ 1905
Ott. C. F. & St. P . - l s t , 5 s ..1909
Northern 111.—1st, 5 .............1910
(fin. I. St. L. & Chicago—
■1st, gold, 4 s ............................ 1936
Registered............................. .
Cl. Col. Cin. & Indianap.—
1st, 7s, s. f d ............................1899
•Consol. 7 s ............................... 1914
Consol, sink, fd., 7 s .............. 1914
Chic. St. Paul M. & O.—
Chic. S. P. & Minn.—1st, 68.1918
No. Wisconsin—lBt, 6s.........1930
Chic. < E. 111.—1st, e. f., cu r.. 1907
&
Consol., 1st, 6s.......................1934
Chic. & W. Ind.—1st, s.f., 6 s ..1919
General mortgage, 6 .............1932
Chic. & St. Louis—1st, 6s....... 1915
Col. & Green.—1st, 6s.............. 1916
2d, 6s....................................... 1926
D el. Lack. & West.—
Convertible 7 s........................1892
M ortgage, 7 s .......................... 1907
Syra. Bing. & N. Y .—1st, 7 s .1906
Morris & Essex—1st, 7 s....... 1914
2d, 7s.................................... 1891
Bonds, 7s............................ 1900
7s of.1871.....................¿ ...1 9 0 1
1st, con., guar., 7 s ............ 1915
Del. & H u d. Canal—1st, 7s. ..1 891
1st, ext., 7s..............................1891
■Coupon, 7s...............................1894
Registered, 7 s..................... 1894
. 1st, Pa. Div., coup., 7 s.........1917
R egistered...............................
A lbaoy & Susque.—1st, 7s.. 1888
1st. cons., guar., 7 s ...........1906
Registered................................
1st, cons., guar., 6 s ...........1906
R egistered.......................
...
Bens. & Sar.—1st, coup., 7s. 1921
"
R egistered...................................
Det. Mack. & Mar.—
" 1 s t , 6s „ ................
1921
Det. B ay C. & A lp .- 1st, 6 ....1 9 1 3
E. Tenn. Ya. & Ga.—1st, 7 s ... 1900
•' Divisional 5 s .......................1 9 3 0
JEliz. C. & N.—S .f., deb., 6s. ..1921
1st m ortg., 6 s .................. ....1 9 2 0
’Erie—1st, extended, 7 s .......... 1897
126*2
11078
95*4 9 5 7s
107*2
102*2
140
45
108
109
62
125
121
120
118
118
121%
122*2
109
131
99
131*« 133
13078 132
109*2 110
110*4
131*2
120
130 %
118
124
128
129
117*«
106
133
131*2
119
130
126’
118*2 120*2
105
iÖ8
107*2
95*2 95%
115
133*2
120
121 %
130
115
110
109
127
123
124
129*2
126
115*2
116*4
112'
115
131*2 136
142*4 143
110% 112
135*4
110*4
117*«
116*2
142
142
104*4 104%
1 2 8 135
1 2 8 135
122*2
121*2
144
106
121
107*2108 *2
122 * !
2
E rie—( Continued) —
2d, extended, 5 s ....................1919
3d, extended, 4*28................ 1923
4th,extended. 5s..................1 9 2 0
5th, 7 s...............
1888
1st, cons., fd. coup., 7s....... 1920
Reorg., 1st lien, 6s....... ¿ ....1 9 0 8
B. N. Y . & E.—1st, 7 s.......... 1916
N. Y. L. E. & W.—Col. tr., 6sl9 22
Buff. & S. W.—Mortg. 6s___1908
Evan. & T. H.—1st, cons., 6 s .1921
Mt. Vernon—1st, 6s............1 9 2 3
Evans. < Indian.—1st, c o n s...1 9 2 6
fc
F l’t & P. Marq.—Mortg., 6 s ... 1920
Grand Rap. & Ind.—Gen. 5 s..1924
R egistered..................................
Han. & St. Jos.—Cons., 6 s.......1911
Hous. E. & W. Tex—1st, 7 s ...1 898
Illinois Cent.—
Spd. D iv.—Coup., 6s............ 1898
Middle D iv.—Reg., 5 s .........1921
C. St. L. & N. O.—Ten. 1., 7s. 1897
1st, consol., 7 s ....................1897
2d, 6s.........................
1907
Gold, 5s, c o u p on ................ 1951
R egistered...........................
Dub. & S. C.—2d D iv., 7s ...1 8 9 4
Ced. Falls & Minn.—1st, 7s. 1907
Indianap. D. & Spr.—
1st, 7s, ex. fund, c o u p o n .... 1906
Lake Shore & Mich. So.—
Cleve. P. & A.—7 s ................ 1892
Buff. & Er.—New bonds, 7s. 1898
Kal. & W .Pigeon—1st, 7 s ... 1890
Det. M. & T.—1st, 7 s............ 1906
Lake Shore—Div. bonds, 7s. 1899
Consol., reg., 1st, 7 s .........1900
Consol., reg., 2d, 7 s .......... 1903
Mahon’g. Coal RR.—1st, 5s. 1934
Long Island R R .—
N. Y. & M. Beach—1st, 7 s ..1897
N. Y. B. & M. B ,- 1st, g., 5 s .1935
Louisville & Nashville—
Ceoilian B rancn— s ............ 1907
7
Pensacola D iv.—6 s . . . . : . ___ 1920
St. Louis D iv.—1st, 6 s ......... 1921
2d, 3s................................. ..1 9 8 0
Nashv. & Decatur—1st, 7 s.. 1900
S. & N. Ala.—S. f., 6 s ...........1910
Louisv. C. & L.—6 s ...............1931
Pens. & A t.—1st, 6s, g old .. 1921
Lou. N. O. & Tex.—1st, 5 s ___1934
Manhat. Beach Imp. Co.—7 s .1909
M exican Central—1st, 7 s .....1 9 1 1
E x coupons 6, 7, 8 .......................
New assented, 4 s....................1911
Incom e b o n d s................ ...1 9 1 1
Micb. Cent.—1st, oon.,5s........ 1902
6 s ..............................................1909
Coupon, 5 s ........................ ...1 9 3 1
Registered, 5 s . . . . ___
1931
Jack. Lan. & Sag.—6 s .........1891
Milwauk. & North.—1st, 6 s ...1 910
Extension, 6 s .........................1913
Milw. Lake S. & W est.—
Ashland Div.—1st, 6s...........1925
Minn. & St. Louis—
Iow a E xt.—1st, 7 s................ 1909
2d mortg., 7s.......................... 1891
Southwest E xt.—1st, 7s ....1 9 1 0
Pacific E x t.—1st, 6 s .............1921
Minn. & P ac.—1st mortg. 5 s.. 1936
Minn. & N. W.—1st, 5s, g old .. 1934
Missouri Kan. & T.—
Cons., 2d, in com e.................. 1911
H. & Cent. Mo.—1st, 7 s....... 1890
Mobile & Ohio—
Collateral trust, 6s................ 1892
St. L. & C a iro-4 s, guar.......1931
Morgan’s La. & T.—1st, 6s___ 1920
1st, 7 s ...................................... 1918
Nash. Chat. & St. L.—2d, 6 s.. 1901
N. Y. Central—6 s ..................... 1887
N. J. June.—Guar. 1st, 4 s.......1986
Registered certificates............ .
N. Y. P. & O.—Prior lien, 6 s .. 1895
N. Y. & New E ng.—1st, 7s___ 1905
1st, 6 s ..............................
.1905
N. Y. N. H. & H.—1st, reg. 4s. 1903
Northern P acific—
Spok. & P al.—1st, s. fd., 6 s.1936
St. Paul & N. P.—Gen., 6 s.. 1923
Registered___....•..................
N. O. & No. E .—Pr. 1., g., 6s - .1915
Norf. & W.—Gen., 6 s................ 1931
New R iver—1st, 6s................ 1932
Iinp. & E xt.. 6s...................... 1934
Adjustment M., 7 s ................. 1924
Ogd. & Lake Cb.—1st, 6 s ....... 1920
Ohio & Miss.—Cons., s. f., 7 s .. 1898
Ohio Cent.—1st Ter. Tr., 6 s ... 1920
Min. D iv.—1st, 6 s ..................1921
Oregon & Cal.—1st, 6 s ............. 1921
Oregon R y & N .- D eb .,7 s___1887
Panama—Sink, f d , sub., 6 s .„ 1 9 1 0
Peoria & Pek. U’n—1st, 6s___ 1921
2d M.. 4*28..............................1921
Pacific R R .—
Central Pacific—
Cal. & Oregon—l s f, 6 s___1888
Cal. & Oregon—Ser. B., 6 1892
West. Pacific—Bonds. 6 s . . . .1899
No. R ailway (Cal.)—1st, 6s. 1907
Union P a c .-C o l. Trust, 6 s.. 1908
Col. Trust. 5 s.......................1907
O. Br. U. P.—F, c .,7 s „ ...1 8 9 5
Atch. Col. & Pac.—1st, 6s. 1905
Atch. J. Co. & W.—1st, 68.1905
Ut. So.—Gen., 7s _____„ „ 1 9 0 9
Extern, 1st, 7s
........... 1909
St. Louis & San Francisco—
1st, 6s, Pierce C. & 0 ......... 1919
Equipment, 7s ....................1895
No prioe F rid ay; these are latest quotations made this week.
118
113*2 115
105*2
133
112*2
137 140
Í3Ó
*90
117
110
122
90*2
71
118
ids’
92*2
123%
11 6% 117%
121
il5 * 2 117
109%
106%
114
123%
126*4
124*2 124%
124
125 127
105
112
100
103*2
120
122
93
*92
92
95
114
57*2
59
56
111
123*4
106
106*4 107
104%
116
118
100
110
110
103*2
87*2 100
109*2 110*2
73
105
76
110
123
109*4 110
101 % 102
103
104*4
113
114
106%
119
112
115
'*97' 100
100 106*2
100
118
92*2
100
103
120
105
105
105
84
105
105
121
86*2
St. L. & San. Fr.—(Continued) —
Kan. City & S.—1st, 6s, g.1916 101 106
Ft. S. & V. B. Bg.—1st, 68.1910
110
St. L. K.&So.W n.—1st, 6s. 1916
Tex. & P ac.—1st, 6s............ 1905 112*2
1st, 6s, ex coupon.......................
Consol., 6s........................... 1905
Con. 6s, ex coupon..............
Trust receipts.......................... 102*2
Pennsylvania R R .—
Pa. Co.’s guar. 4*28,1st c p „ 1921 105 106
Pa. Co.’s 4*28, reg ..................1921 104*2 105
Pitts. C. &St.L.—1st, cp.,7s. 1900 1 1 9
Registered..............................
2d, 7s.................................... 1913
Pitts. Ft. W. & C.—1st, 7 s ... 1912 140*2
2d, 7s.................................... 1912 141
3d, 7 s.................................... 1912 138*2 139
Clev. & P .—Cons., s. fd., 7S.1H00 128*2 130
4th, sink, fd., 6 s..................1892 107
St. L. V. & T. H.—1st, g., 7 s .1897 118
2d, 7 s.................................... 1898 105 108
2d, guar., 7s.........................1898 108
Pine Creek R ailway—6s of 1932
Pitts. Cleve. & Tol.—1st, 6s. „ 1 9 2 2 114 120
Pitts. Junction—1st, 6s.......... 1922
Pitts. M cK. & Y .—1st, 6 s....... 1932
Richmond & Danville—
Assent deb., 6s.......................1927
107*2
A tl. & Char.—1st, pr., 7s___1897 110
In com es..............
1900|
Scioto Val.—1st, cons., 7 s.......1910
Coupons off................................
’ 60
70
St. Louis & Iron Mountain—
Arkansas Branch—1st, 7 s „ 1895 112 113
Cairo & Fulton—1st, 7 s ....... 1891 106%
Cairo Ark. & T .—1st, 7 s ___1897 111*2 113'
St. L. Alton & Ter. Haute—
Bellev. & So. 111.—1st, 8s. „ 1 8 9 6 118
Bellev. & Car.—1st, 6 s .........1923 110*2
St. Paul Minn. & Man.—
Dakota Exten.—6s.............1 9 1 0 118% 120
1st consol. 4*28.................. 1933 98
99*2
Registered............................
Min’s Un.—1st, 6s..................1922 112
St. Paul & Duluth—1st, 5 s „ ..1 9 3 1 110*2
Sodus Bay & So.—1st, 5s, g „ .1 9 2 4
Tex. Central—1st, s. x., 7 s ___ 1909
80
81
1st mortg. 7 s ......................... 1911
80
Tex. & N. O.—1st, 7 s................1905 115
Sabine Division, 1st, 6s....... 1912 103*2 104
Vir. Mid.—Genl. 5s................... 1936
95
Wab. St. Louis & P ac.—
Havana Div.—6s....................1910
Indianapolis Div.—6 s ...........1921
Detroit D iv.—6 s ....................1921
89
Cairo D iv.—5s........................ 1931
Tol. & W ab.—Equip. bd s.,7 sl8 8 3
Quin. & Tol.—1st, 7 s.........1890 *85
Han. &Naples—1 st,7s___19d9
111. & So. Iow a—1st,ex. 6s. 1912 90
St. L. K. C. & N . Omaha D iv.—1st, 7 s ... .1919
Trust Co. re ce ip ts..........
108 108*2
Clarinda Branch—6s___1919
71*8
St.Charles B r’ge—1st,6s. 1908
No. Missouri—1st, 7 s.........1895 1 1 6
Wab. St. L. & Pac.—Iow a Div., 6s
Trust Co. re ce ip ts.......................
50
West. Union Tel.—Coup. 7 s „ .1900 118*2
R egistered...........................
N. W. Telegraph—7 s ............... 1904 102
Wheeling < L. E., 1st M. 5s. .1926
&
Tenn. C. I.& R ’y.—Consol., 6 s.1901 106
South Pitts.—1st, 6 8 ............ 1902 106
Bir. D iv.—1st con. 6 s ........... 1917
91
Col. & H ock. Coal & I.—6s, g ..l9 1 7
In com e B on ds.
(Interest payable i j earned.)
A tlantic & Pacific—
Cential Division—Incom e.. 1922
28
Cent. Iow a—Coup, d ebteertf’s____
Chicago & East 111.—Incom e.. 1907
Des M. & Ft. D .—1st ine., 6s. 1905
Det. Mack. & M arq.—I n c .......1921
Eliz. City & Nor.—2d in c.........1970
Ind’ap. Dec. & Spr.—2d in c .. 1906
Trust receipts................................
40
38
Leh. & WilkesD. Coal............ . .1888
100
98
Lake Erie & W e ste r n Incom e 7 s............................... 1899
9
Sandusky D iv.—In c o m e
1920
5
Lafayette Bloom ’gton & Muncie—
Incom e 7s............................... 1899
Milw. L. Shore & West.- Incom es.
102
Mobile & Ohio—
2d pref. debentures......................
38
38*2
3d pref. debentures......................
28*2 32*2
4th pref. debentures......................
30
N. Y . L. E. & West.—Inc., 6 s..1977
Ohio C entral- Min. D iv.—
Incom e 7s. *..............
.1921
Ogdensburg & Lake Champlain—
In c o m e ................................... 1920
Roch. & Pittsb.—I n c o m e ....... 1921
70
50
St. L.I.M.& S.—1st 7s, pf., int. ace’t.
Sterling I. & R ’y, series B.—I n c .’94|
Plain income 6s.................. „ 1 8 9 6
Shenandoah Valley—Inc. 6s „ 1 9 2 3
Tex. & St.L.in Mo.& A rk .—2d .l911
Tex. & St.L.in T ex.—L.Gr.Ino 1920
General Land Grant & in c .. 1931
F r e e L is t.
Cin. & Sp.—1st M.C.C.C.& 1.78.1901
1st M. g.. L. S. & M. S., 7 s .„19 0 1
Cin. W. & Balt.—Prior L. 4*2 .1893
106
1st 4*28 guar..............„ . . . . „ 1 9 3 1
Cumberland & Penn.—1st, 6S.1891 103
2d m ort., 6s............................1888 102
East & West, Ala.—1st, 6s___1912
Gal. H. & H. o f ’82—1st, 5 s ..l9 1 3
81
104
Jefferson RR.—1st. 7s............ 1889
Valley RR ., O.—Con. gold 6s .1921 100 104*2
THE CHRONICLE
F e b r u a r y 26, 1887. J
Quotations in Boston, P hiladelph ia and B altim ore.
SECURITIES.
Bid. Ask.
B O ST O N .
9
,Atoh. * Topeka—1st, 7s. 2124 > 125
Land grant, 7s.............. i ........ 122
Plain, 5 s . ........ ........... i ........ 96*9
102 *s
Mortgage, 5 s........... .
97*a
Mortgage, 4^8...... .......
Trnst, 6s..... ................. 108 108*9
Bur.&Mo.inN el).— t,6s 120
Ex’
6s non-exempt............ . 108*9
95
Is..................
Land grant, 7s ............. 116
California So.—6 s ......... 110 111
80
Income 6s...... .
Chic. K. C. A West’n—5s. 100\ 101
Incomes . . . . . . . . . . . . . . . . . 62*9 63
88
87
Cons. Vermont, 5s...........
Kitst’rn, Mass.—6s, new.. 127*9
From. Elk H.&Mo.V.-Os.. 122
K. O Fort Scott < G.—7s 117*4
fc
K. City Lawr. < So.—6s..
fc
K. City St. Jo. & C. B.—7s 126*4
K. City Sp’d A Mem.—6s 110%
K.O. Clint. < Springf.—5s
fc
Little R. A Ft. S.—7s...... 114*9 115
103
Mar. H. & Ont.—1908, 6s,
1926, 6s.......................... 100 100*9
Mexican Central—4 s ....... 55% 56
Scrip..................... ........ 60*9
84
19
Income......................
55
55*4
Scrip..... .......... .............
80
79
Debenture, 10s...........
125*4
N.Mex.A So.Pae.—7s......
128
N. Y. & N. England—7s..
6s.................................... 117*9 118
106
2ds, 6s......................... k.
106*9
Ogdensb.& L.Ch.—6s. . . l.
Consolidated 6 s............. 2100
44
Incomes......................... 40
124*9
Pneblo A Ark. VaL—7s..
Rutland—1st 6s— •
........ 2107*9 108
94
5s...................................
Southern Kansas—5s...... 101 102
82
I n c o m e s ....... . . . . . . . . .
Sonora—7 s ..... ................. 10234
Wisconsin Cent.—1st ser. 2 96
67
57*9
2d series.............. —.......
STOCKS 1
Atchison & T opeka........ *96%
Boston A Albany............ 200
Boston & Lowell............. 153
Boston & M aine.............. 217
Boston & Providence___ 212 215
Boston Con. & M.. pref..
Boston Revere B. & Lynn
38
37
California Southern........
Central of Massachusetts 25
54
Preferred....................... 53
120
Cheshire, pref erred ........
Chic. & East’n Illinois... 109* 110
Chie. Burl. & North’n .... 83*a 84
Chic. < W est Miohigan.. * 54
ft
Cinn. Sandusky & Cleve. 26% 26%
7*4
7
Cleveland & Canton.......
31*9
30
Preferred.......................
24*2
Col. Springf. A Cin.......... { 23
120*9 125
{192 193
Conn. & Passumpsio....... 105 0.07*9
Det. Lansing & No., pref.
Eastern............................. *128
138
Preferred.......................
Fitchburg........................ 105*4 106
Flint & Pere Marquette. 27*9
94
Preferred....................... 93
Iowa Falls A Sioux City. * 68 *a
Kan. C. Clin. A Springrd
Kan. City Ft. S. A G u lf.. ........ ........
Preferred.......................
75
Kan. C. Springf. A Mem.
Little Rock A Ft. Smith. 47 is 5’
Maine Central.................
Manchester & Lawrence.
Marq. Hough t’n & On ton.
Preferred....................... 2103*4
14*s 14*9
Mexican Central........ .
62%
62
N. Y. A New England...
Preferred....................... 133
Northern............ . . . . . . . } .. .. 128
179
N orw ich* W orcester...
Ogdensb. & L. Champlain 2........ 17
Old Colony....................... 178 179
181*9
Portland Saco A Portsm.
116
Ports. Gt. Falls & Con’y.
89
Rutland............................
35
Preferred.......................
10*4
9
Summit Branoh...............
Wisconsin Central.......... 24 ,
Pneferred..... ................. i 35%
Worcester Nash’a * Roch
P H IL A D E L P H IA .
RAILROAD STOCKS. 1
Buff. N.Y. * Phil.,ass.pd. 10% 103
4
Preferred.......................
8*4
Camden A Atlantic.......... 19
41
Preferred...........
21
Catawissa.............. ...........
22*9
55
1st preferred ..............
55*4
2d preferred................. 2 53
150
Delaware A Bound Brook
47*s 47*9
East Pennsylvania.........
Elmira * W illiamsport.. 40
Preferred....................... 60
17
Huntingd’u & Broad Top
34*4
, Preferred...................... 34
66
Lehigh Valley.................
56*4
i
Little Schuylkill............. 56*9 6 o 7
57
Minehill & Soh. H aven...
Nesquehoning V a lle y .... 2' 55’
75
78
Northern Central............
76
North Pennsylvania___
Pennsylvania................... 57 *s 5 7 «
9
Philadelphia* Erie........ 25 >
Phila. Ger. & Norristown 117
Phila. Newtown & N .Y ..
4
Phila. & Reading............. 183 IS7
«
64
Phila. Wilm. & Balt........
United N. J. Companies..
21*7*s
60*9
West J e r s e y ........___...
West Jersey * Atlantic.. 60
T CANAL STOCKS.
Lehigh Navigation.......... 50% 507
8
Schuylkill Nav., p re f... .
RAILROAD BONDS.
Allegh. Val.—7 3-10s, ’98 119*2
7s, E. ext., 1910............. 113
Inc. 7s, end., coup., ’94
! 24
Balt. & O.E. Side—Certs
‘112
* Ex-dividend, t Per share
271
New York L ocal Securities.
B a n k S tock L iât.
SECURITIES.
Bid.
Ask
Belvid’e Del.—lst.6s.I902 116*a
Bell’s Gap—1st, 7s, 1893.
1st, 68,1905..................
112
Con., 6s, 1913.................
Buff. N.Y.& Phil.—1st,6s
Cons. 68,1921...............
1st, Tr. 68,1922...........
Cam. * Amboy—6s, c.,’89 105
Mort., 6s, 1889.............. 107*9 108
Cam. * Atl.—1st,7s,g.,*93 115
2d, 6s, 1904.................... 110
Cons., 6 p. o...................
Catawissa—1st, 7s, eon. 0.
129
New 7s, reg. & coup___
100
Col. &C. M.—1st, 6s. 1914
Connect’g 6s, cp., 1900-04 121
Del. * Bound Br.—1st, 7s {130
Duluth Short L., lst, 5s.
East Penn.—1at, 7s, 1888
Easton&Amb’y—6s, 1920 114*9
El.*W m sp’t -l at,6s, 1910 120
5s, perpetual................. 110
Harrisb'g—lst.6s, 1883.. 108
H.&B.T.—1st, 7s, g., 1890
1039a 103*9
Cons. 5s, 1895.......
•••
Ithaca* Ath.—1st, gld.,78 • • •
124*9
Leh.V.—lst,6s,C.&R.,’98
2d, 7s, reg., 1910___. . . . ..... 144
Cons. 6s, C.& R., 1923.. 136*9
*8 3 "
N. O. Pac.—1st, 6s, 1920.
No. Penn.—2d, 7s, cp. ’96. {122
Gen., 7s, 1903................ 133 134
Debenture 6s, reg........
Norfolk & West.—Gen.,6s 112
115
N. R. Div., 1st, 68.1932
N. Y . P h il.* Nor.—1st, 6s ÌÒ*6% 107
58
60
Inc., 6s, 1933.................
Oil Creek—1st, 6s, coup..
Pennsylv.—Gen., 6s, reg. 136
Gen., 6s, op., 1910........ 133*9 136
Cons., 6s, reg., 1905.... 124 I___ _
Cons., 6s, coup., 1905... 124 ,126
Cons., 5s. reg., 1919.... 1 1 0V ........
Pa. & N. Y. O.—7s, 1896. 121*9........
7,1906............................ ........ 131*9
100
Perkiomen—1 at, 6s,cp.’87 99 1
Phil. AErie—1st,7s,op.’88 104*9 105
Cons., 6s, 1920..............
Cons., 5s, 1920.............. 113*9...... ..
Phila. Newt. & N.Y.—1st
Phil. & R.—1st,6s, 1910..
115
2d, 7s, coup.* reg., 1893
Cons., 7s, reg., 1911----- 122 4
Cons., 7s, coup., 1911.. 1223 Ï23*
Cons., 6s, g., 1.R.C.1911
Imp., 6S, g., coup., 1897 104% 104%
Gen., 6s, g., coup., 1908 103 103*4
98
Reorg. Ctfs------ ------Gen., 7s, coup., 1908___ ........ 102*9
Reerg. C tfs ..............
Income, 7s, coup., 1896 55*9 *65%
Conv. Adj. Scrip, ’ 85-89 55*4
Cons. 5s, 1st ser.,c.,1922 61% 62*9
43
Cons. 5s, 2d ser.,0.,1933 43
Debenture coup., 1893. 37
Conv., 7s, R. C., 1893... 45
Conv. 7s, cp.off, Jan.,’ 85
Deferred incomes, op ... ‘ "¿*4 T ô ”
Phil. Wil.& Balt.—4s.tr.ot 103*9
Pitts. Cin. ASt.L.—7s___ 122 122*9
Pitts. Titus. & B.—7s,qp. 35
126*9
ShamokinV. & Potts.—7 s
Snnbury & Erie—1st, 7s.
Sunk. Haz. & W .—1st, 5s 103*2
99
2d, 6s, 1938....................
Sunb.&Lewist’n 7s.C, .’96
Syr.Gen.A Com.—1st, 7s.
Tex. & Pac.—1st, 6s,1905 112*4
100*9
Consol.,08, 1905.... ...
Union & Titusv.—1st, 7s. "2*5“
United N. J.—Cons.6s,’94
Cons. 6s, gold, 1901....
Cons. 6s, gold, 1908....
Gen., 4s, gold, 1923....
109
Warren * F.—1st, 7 s ,’96
West Chester—Cons. 7 s.. 112*9
W. J ersey—1st, 6s, op.,’96 115
1st, 7b, 1899................... 126
Cons. 68,1909............ . .
W.J ersey* Atl.—lst,6s,C. 106*a
Western Penn.—6s, ceup. 110
6s, P. B ., 1896.............. 111 115
5s, reg., 1923__. . . . . . . . .
CANAL BONDS.
Ches. & Del.—1st, 6s,1886 91
113
Lehigh Nav.—4*sS, 1914.
Mort. RR., reg., 1897 .. 116 119
Cons., 7 s, reg., 1911 — 131
Pennsylv.—6s, cp., 1910.. 87
Schuylk. Nav.—1st,6s,rg. 80
.53*9
2d, 6s, reg., i907.......-
B A L T IM O R E .
R A IL R ’D STOCKS.tPar
Atlanta & Charlotte........
Baltimore & Ohio ...100
1st pref..........................
2d pref............................
Parkersburg Br........50
Central Ohio—Com__ .50
Pref..............-................
Western M aryland....50
RAILROAD BONDS.
Atlanta * Chari.—1st....
1no..................................
Baltimore * Ohio—4 s....
Cen. Ohio.—6s, lst,M .*S .
Chari. Ool. * Aug.—1st..
2d...................................
Cin. Wash. * Balt.—ists.
2d s ........... ....................
3ds.................................
1st Inc., 5s, 1931.........
Columbia* Greenv.—lsts
2ds..................................
No. Central—4*28, J. & J.
6s, 1900, A. & O...........
6s, gold. 1900, J.& J ....
5s, Series A ...................
5s, Series B ............ .
Pittsb.&Con’ells.—7sJ&J
Union RR.—1st, gua.JAJ
Canton endorsed...........
Virginia & Term.—5s . . . .
8s....................................
W.Md.—6s,3d,guar.,J.*J
Wilm. O. & Aug.—6s........
Wil. * Weiuon—5s. . . . . . .
7s....................................
{ Last price this week.
155
95
165
125
7
50*9 51
52
11
123
104
104
108
113
112
........
78*9
125
105
103
114
105*9
79
93*9 94
Ì23*a
120*9
iïi"
123*9 125
117 120
........126
112
120
BANKS.
America......
Am. E x oh ...
Broadway...
Butohs’ A Dr
Central........
Chase...........
Chatham....
Chemical....
Citizens’ ....
City..............
Commerce ..
Continental.
Com Exoh...
East River..
11th W ard..
Fifth A v e ...
F irs t...........
Fourth. . . . . .
Falton_____
Bid. Ask
BANKS.
Gallatin .. ..
Garfield»....
Germ'd Am..
Germania...
Greenw ioh..
ECanover... .
I m .* Trad’s’
Irving ... . . .
Leather Mfs’
Manhattan.:
M arket......
Mechanics’ .
M
’ohs’&Trs’
Mercantile..
Meronants ’ .
M’roh’ ts’ Ex.
Metropollt’n
Nassau........
7#w York ..
173*9 180
146
260 275
160
126
165
210
2200
128
295
178
121
189
125
125
725
1400
141
151
Bid. Ask.I
205
150
107
200
112
160
310
140
200
161
161
170
140
137
136
110
32
139
207
BANKS.
V.Y. Countv
S . Y. Nat. Ex
T
fin th ...........
V. America,
'forth Riv’r.
Oriental.......
325
Paoiflo.........
Park.............
143
People’s . . . .
166
Phenix.........
165
Republic
St. Nicholas.
171
7th W ard...
Second.........
140 S hoe* Loath
■JtateofN.Y.
*34*9 Third...........
Tradesmen’ s
Tnited St’ es
Bid. Ask.
200
122
131
122
ISO
187
152
174
155
109
136
120
114
225
137
136
128
136
125
195
ILO
138
128
104
210
In s u ra n ce S to ck L is t.
[Quotations by E. S. Bailey, 5*9 Pine St.]
Bid. Ask. ¡COMPAN’S. Bid. Ask. COMPAN’ S. Bid. Ask.
A m erican...
Amer. Exoh.
B ow ery. . . . .
Broadway...
B rooklyn. . .
Citizens’ . . . .
C ity .............
Clinton........
Commercial.
Continental.
E a g le ..........
Empire City
Exchange...
F arragnt....
Firemen’s'*.
German-Am.
Germania...
G lob e..........
165
95
160
190
180
125
128
117
33
225
260
100
105
130
104
300
150
120
175
102
165
200
190
130
135
125
36
235
270
110
115
135
108
325
160
127
Greenwioh.. 225
[Guardian... 80
¡Hamilton .. 130
Hanover___ 145
145
Howard . . . . 80
Jefferson___ 130
Kings Co___ 220
Knickerb’k r 97
Long Island 100
Lafayette... 100
Mannf’o.&B 125
Mechanics’ * 90
Mercantile.. 67
Merchants’ . 100
M ontank.... 100
N assau....... 145
N ational.... 102
240
85
140
150
150
85
135
230
103
110
105
135
96
72
110
106
150
110
N. Y . Eqnit.
N. Y. Fire ..
Niagara......
North River
Park............
Pet’r Cooper
People’s.......
Phenix .......
Rutger’ s ... .
Standard....
S ta r.............
Sterling . . . .
Stuyvesant.
United St’ es
Westohester
Williamsb’g.
165
95
170
105
165
100
165
105
140
140
110
70
65
115
145
135
275
175
100
175
114
175
1Ò5
175
112
145
147
115
95
70
120
150
150
285
G as and C ity R a ilr o a d S tock s an d Bonds«
[Gas Quotations by Geo. H. P rentiss * Co., Brokers, 49 Wall Street.]
G 4 S COMPANIES.
l
Consolidated G as.............
J ersey City A Hoboken...
Matual (N .Y .).................
S o r i p . ................
Bid. Ask.'
105
67
104
85
102
55
100
84
160
115
102
102
100
100
122
105
103
105
101
GAS COMPANIES.
Bid. Ask.
54
125
110
Metropolitan (Bklyn.)_
_ 75
Municipal—Bonds, 7s...... 105
134
Bonds, 6s....1 ................ 105
115
110
se
130
114
80
110
136
109
117
1L3
[City RR. Quotations b y H. L . G ban t , Broker, 145 Broadway.]
Bl’oker S t.* Fnlt.F.—Stk.
lst mort., 7s, 1900........
B r’dway & 7t,h A v.—St’k..
lst mort., 5s, 1904 ........
2d mort., 5s, 1914..........
B ’way Snrface bds.gnar..
Bondsgnar.,5s, 1905 ...
Brooklyn City—Stock......
lst mort., 5s, 1902 ........
B kiyn. Crosstown—Stock.
lst mort., 7s, 1888........
Bashw’k Av. (Bkln)—St’k
Central Crosstown—Stk..
lst mort., 6s, 1922 ........
Omt. Pk. N.& B. Hiv.—
Stk
Oonsol., 7s, 1902 ...........
Oarist’ph'r&lOth St—Stk.
Bonds, 7s, 1898.............
Dry Dk. E .B .* Bat’y—Stk
lst mort., 7s, 1893........
D. D. E. B. & B.—3orip, 6s 105
Ei ihth A v.—Stock........... 190
Scrip, 6s, 1914........... k 107
106 42d * Gr’nd St. F ’ry—St 220
106
ls t mort., 7s, 893......... 11 a
42d St. Manh. * St. N.Av 34
100
100
lst mort., 6s, 1910 . . . . ® 109
185
2d mort., lnoome, 6s....... 46
110
S onet.W.St.&P. K’ v -S tk . 160
175
lst mort., 7s, 1894........ 110
108
Ninth A ve...................
155 Second Av.—Stook...........
165
let mort., 5s, 1910........ 105
120
Consol., 7s, 1888........... 101
120
Sixth Av.—Stock . . . . . ...
120
le t more., 7s, 1890........ 110
125 Third Av.—Stook............. 205
112*9
Bonds, 7s, 1890............. 105
175
Twenty-third -it..—stook.. 245
lst nort., 7s, 1893 ........ 112
112*9
30
116
28
112
205
103
212
175
106
165
105
150
155
116
116
118
110
165
110
107
200
110
225
117
35%
111
50
165
11 a
100
180
107
200
115
212
107
252
114
Unlisted Securities.—Quotations from both Exchanges:
SECURITIES.
Bid.
Am. Bank Note Co........ . .
Amer. Tel. & Cable..........
Atch.& Pike’s Peak,lst.6s
Bost. H. T.& West.—Stk.
Debentures— ..............
Brooklyn Siev’d—stock.,
ls t m o r t ...... ........ ....
2d mort...........................
Cape Fear & Yad.Val., lst
Chic. & Atlantic.—Benef.
Chic. Santa Fe & Cal. 5s..
Chek&O., ser. B.def. scrip
Cincinnati & Springfield..
Cont.Cons. Imp.Co.Tr.stk
Des Moines & Ft. Dodge..
Preferred.*......................
East * West R R . of Ala..
Edison Electric L igh t....
Georgia Pac.—Stock........
ls t 6s..............................
2ds..................................
Kanawha * O h io ......—
lst pref...... ...................
2d p re f........................ .
ls t 6s.............................
Keely Motor......................
Memphis & L. R. lst, 8s..
Mexican State 3s........ .
Mexican N ational.........
P r e f ...............................
Ask,
70
105
73
109
24
'45*
106%
79*9
96
8
ï f
107*9
81
22
20
10
.04 «
24
6
52
2
48
15
25
25*9 26*9
195
24
108% 110
60*9 62*9
6
8
23
24*9
9
n
74*9 76
10% 11
9
IT
3 2 « 33*9
SECURITIES.
Mex. Nat. lst morr...........
Flor. R ’way & Nav. C o ...
P ref................................
Mich. & Ohio—lst M........
New Jersey & N. Y ........
N. Y. * Green'd Lake, 1st
2d mort........................ ..
N.Y.Chi. St. L., lst st. cer.
Equipment 7s................
N. Y. City & Northern....
N. Y. W. Sh.& B__Stock.
North. Pao.—Div. bonds..
North Riv. Cons.—Scrip..
Pensacola * A tlantic....
Pittsb. * Western...........
lst mort.........................
Rome * Decatur...............
1st mort., 6s......... ........
St. Louis Ft. S. & W ioh..
lst mort..........................
St. PaulE.& Gr.Tr., lst 6s
Tol. A. A . * N. M ............
United States 111. C o ......
Utah Central.—lst, 6 s ....
Vioksb. * M eridian .......
Pref.................................
1st mort.................... . . . .
2d m ort...........................
Incomes.........................
West N. Car.—2 l Con, 6s..
Bid. I Ask.
91
18
1%
97
97*9
14*9
95
25
28
90
91
7*9 9
100
4%
95
53
lk*9
100
Boston Banks.—Following are the totals of the Boston banks:
1887.
Loans.
Specie.
L .T ’nders.l Deposits.*
Circula’n Agg.Cl’nga
$
!
$
$
B
$
$
Feb. 5 146,825,100 10,704,600 3,037,000 110,748,000 12,329,800 79.162,475
“ 12 146.003.0U0 11.061,000 3,133,600 110,011,600 11.953.400 78,981,717
19 146,209.600 11.047.000 2,904,400; 110.339.80t 11.963.400 82,436,59B
P hiladelphia Banks.—The totals have been as follows:
1887.
Loans.
Lawful Mon’y Deposits.’
9
$
$
22,806,300
82.922.000
Jan. 29...... 85,436,800
22,837,600
82,775,900
Fob. 5...... 85,687.400
23,555,800
83.042.000
»
12....... 85.717.900
22,959,100
83.135,500
« 19...... 85.757.900
* Including the item “ due to other banks.1
Circula’n Agg.Cl’ng*.
$
4,012,500
3,515,750
3.507.740
3.500.740
$
.
53,363,211
60,473,520
63,737,798
57,734,904
THE CHRONICLE.
272
Mew York City Banks.—The following statement show* the
oondition of the Associated Banks of New York City for the
week ending February 19, 1887:
Bank*.
Average Amount of—
Net DcvoeiU
Legal
other
Specie.
T mders.
e/
i
than U. B.
Loam and
Discount*.
New Y o r k . . . . . . . . .
Manhattan O o . . . .
Merchants’ v . . . . .
Mechanics’ . . . . . . .
America . . . . . . . . . .
P h e n ix ....... . . . . .
C ity .......................1
Tradesmen’s ........
F u lton . . . . . . . . . . . .
Ohemioal..............
Merchants’ Exoh.
Gallatin National..
Batchers’ & Drov..
Mechanics’ A Tr..
Greenwich............
Leather Manttl’rs.
Seventh W ard....
State o f N. Y .......
Amerlo’n E xcli’ge.
Commerce. . . . . . . .
B roadw ay............
M ercan tile....... .
P acific. . . . . . . . . . . .
Republic ..............
Chatham. . . . . . . . .
Peoples’. .............
North A m erica. . .
H anover. . . . . . . . . .
I r v in g ......... .
Citizens’ . . . . . . . . . .
N assau. . . . . . . . . . .
M arket.................
St. N icholas........
Shoe A Leather..
Com Exchange...
Continental..........
Oriental...............
Importers’* 1 rad
P a rk .............. .
North R iv e r.......
East River..........
Fourth National..
Central National..
Second National..
Ninth National...
First National_
_
Third N ational...
N . Y . Nat. E xch ..
Bowery........... ..
N. Y . County.......
German-Americ’n.
Chase National...
Fifth Avenue......
German Exoh’nge.
Germania.............
United States......
Lincoln .................
G arfield...............
Filth National_
_
B’k of the Metrop.
W est S id e .........
Seaboard...............
Sixth National—
11,220.000
9.385.000
6.643.300
8.842.000
11,922,70.)
8.065.000
7.759.800
2.780.800
1.296.300
19,523,600
8.230.000
6.028.900
1.852.800
1.682.000
1,126,400
8.405.500
1.290.900
4.108.800
16.732.000
17,627,200
5.816.500
7.308,800,
2.429.500
8.708.900
4.735.900
1.961.500
2.977.600
11.687,100
8.074.000
2.782.900
2.910.000
8.127.000
2.127.700
8.254.000
6.399.600
4.672.100
2.178.000
21,117,800
21,496,900
1.940.000
1.213.000
17.322.000
8.589.000
3.854.000
6.704.200
2^.606,600
5.464.700
1.484.900
2.689.300
2.212.500
2.752.200
6.178.100
3.434.800
2.621.800
2.479.600
5.267.600
2.426.700
1,741,800
1.466.700
8.815.600
1,784,000
2,070,500
1.728.600
C
2,210.000
1,894,000;
1,697 600
2.448.000
1,546.900
613.000
6.122,800
379.200
572.400
8.762.000
565.100
851.900
516.700
106.000
135.100
9
520.000
286.000
811.400
622,000!
643.300
86.000
478.000
209.500
116.000
661,000
282.900
612,100
66.000
220.000
140.400
668.200
230.200
271.600
68,800
638.000
354.100
5.669.000
983.000
4.197.600 1.113,100
310.900
757.700
899.700
1.662.700
627.900
i 4 i ,eoo
1.637.300
48r*,300
1.084.300
285.700
313.100
107.500
530.500
235.800
2.956.200
602.700
672.500
172.900
718.600
140.800
191.200
423.600
678.500
104.200
173.200
74,600
662.000
232.000
S82,t00
140.000
964,300
447.700
380,600,
304.000
6.737.300
972.600
6.519.300 1,387,* 00
J01, too
168.000
263.800
96.400
6.721.000 1 261,000
2.004.000
891.000
714.000
315.000
1.377.600
269.900
6.373.600
466.400
1.449.700
807.200
281.100
122.700
358.800
824.900
650.500
119.200
856.500
138.200
1.368,'. 00
272.400
769,>-00
94.400
800.000
260.000
127.800
809.500
1.273.200
72.400
683,100
140.900
314.200
156.400
863.900
163.800
163.800
1.067.200
313.200
213.400
127.600
441.500
108.100
631.400
9
10.450.000
9,439.1 001
7.131.600
8.708.000
10,004 900
2.765.000
11.775.100
2.309.800
1.624.300
23.655.800
3.534.100
4.769.600
1.970.700
1.855.000
1.161.300
2.780.800
1.288.600
4.104.100
17.013.000
18.687.200
5.138.400
8.083.700
2.756.900
9.093.900
5.168.000
2.460.000
8.467.800
18,065.500
3.160.000
3.130.800
3.845.200
2.625.000
1.800.000
3.547.000
5.763.800
6.487.200
2.826.100
24.385.200
26.265.800
2.036.000
1.074.100
20,143,( 00
9.692.000
4,158,(00
6.332.700
23.097.100
6.985.700
1.339.100
2.697.500
2.812.100
2.528.900
6.304.800
3.616.800
3,088,100
2.688.400
6,650.600
3.080.500
1.899.800
1.688.700
4.666.400
2.059.900
2.176.800
2.260.700
Circula
tion,
8
45,000
45,000
259,000
'éò'.ooò
101,800
509,500
211,800
2,600
531,200
43,100
956,100
45.000
44,800
8Ì 7,200
45.000
135.000
158,600
45,000
428ÄÖ0
443*200
49,500
986,900
45,000
224.300
360,000
45.000
42.000
45.000
257.300
199,700
222,900
180,000
45,000
45.000
43.600
45.000
134,400
43,800
175,000
T o ta l............... 367.350.000 91,647.200 21,776,700 391,778,800 7.646,600
The following are totals for several weeks past:
1887.
Loan*.
Specie.
L. Tenders.
Deposits.
Circulation
9
9
9
9
$
Feb. 5 369,185,000 83,420,400 24,210,000 388,634,600 7,720,100 668,272.421
« 12 365,586,700 93,531.800 23,270,600 392,771,200 7,657,300 665,080,647
«* ip :;67.8f>0,000 91.647,200 21,776,700 391,778,800 7,646,600 037,961,503
RAILROAD EARNINGS.
The latest railroad earnings and the totals from Jan. 1 to
latest date are given below. The statement includes the gross
earnings of all railroads from which returns can be obtained.
[V ol. XLIV,
Latest Earnings Reported.
R oads .
Week or Mo
1887.
1886.
9
8.300
F tW .A D en .C ity i?d w k Feb
9,980
58,395
96,310
Georgia Pacific.. January ..
34,765
34,505
Gr. Rap. A In d .. g d w k Feb
Grand Trunk . . . Wk Feb 12 310,045- 294,020
Gull Col. A S. Fe. ! ^ nu,ar£ -- 189,081 154,223
Hous.ATex.Cent 2d wk Feb
56,945
54,397
DLCent. (111. ABo) January .. 919,961 782,749
8,832
Cedar F.AMin. January ..
9,578
48,914
67,084
Dub.ASiouxC. January ..
44,567
Ia. Falls A S.C. January ..
26,988
85,480
Tot. Iow a lines January .. 120,483
Total all lines. January .. 040,444 868,229
50,539
51,940
Ind. Bloom. A W. 1st w k Feb
35,120
40,983
Ind. Deo. A S p r. January ..
34,113
43,692
K.C.Ft.S. A Gulf. 1st wk Feb
17,679
31,954
Kan. C. Sp. A M. 1st w k Feb
3 ,-4 0
5, <34
Kan. C. Cl. A Bp. 1st wk Feb
25,817
25,461
L akeE . A West. 2d w k Feb
16,759
20,9.16
Lehigh A Hudson January ..
42,394
46,117
Long Island....... 3d wk Feb
15,325
15,779
Low s.E v.A St.L. 2d w k Feb
Louis v. A Nashv. 2d w k Feb 300,470 276,380
34,105
30,837
Lou.N.Al.AChic. 2d w k Feb
Louisv.N.O. A T . January ..j 200,442 156,031
Manhattan E l... January .. 653,647 581.573
6,582
10,256
Mar.ELough.A O. 2d w k Feb
32,606
31,365
Memphis AChas. 2d w k Feb
72,387
*Mexican Cent’ i. 31 wk Feb 100,020
45,881
44,815*Mex.N. (N.Div) January ..
20,684
17,611
do
(So.Div) 2d w k Feb
139,328 122,238
do
all lines January ..
24,080
37,616
Mil.L.Sh. A West. 3d wk Feb
10,125:
15,825
Milwaukee A No 3d wk Feb
4,856
11,038
Minn. ANo. West. 2d wk Feb
45.587
30,836
Miss. A T en n . .. January ..
Mobile A O hio.’ . January .. 236,015 184,263
Nash.Ch. ASt.L. J a n u a ry .. 242,094 185,519
N .Y.Cen.AH.R.. January .. ,714,710 ,295,095
8,344
11,175
N. Y . City A No. Wk Feb.12
17,655
20,828
N.Y.Ont. A W ... 3d wk Feb
81,650
84,596
N. Y . Sus. A W . . January ..
52,910
61,135
N orfolk A West. 3d w k Feb
514,947 400,123
Northern Cent’i. Ja n u a ry ..
Northern Pacific 3d wk Feb 133,685 156,795
291,112 274,180
Ohio A M iss....... January ..
44,790
53,476
Ohio Southern.. January ..
274,225 234,618
Oreg.R. A N . Co. January ..
,851,771 3 ,421,536
Pennsylvania... January . . 1
3
15,535
15,794
eeoria Deo. AEv. 2d wk Feb
Richm ’d ADanv. January .. 354,800 278,527
92,044
93,075
Va.Midl’d Div. January ..
62.400
63,508
So. Car. D iv.. January ..
53,714
50,000
C ol.A G r.D iv.. January ..
39.400
34,189
West.No.C.Div January ..
7,900
6,000
Wash.O. A W . . January ..
25,241
19,970
St. Jo. A Gd. Isl. 2 d w k Feb
24,141
27,3581
8t,L.AltonAT,H. 2d wk Feb
18.540
16,856
Branches.........2d w k Feb
34,571
41,524
St. L. Ark.ATex.j2d wk Feb
76,797
97,700
St.L.ASan.Fran.]3d wk Feb
18,382
16,846
8t.PaulA Duluth 3d wk Feb
St.P.Min.A Man. January .. 459,250 405,539
40,804
35,854
Staten Is.Rap.Tr January ..
Texas A Pacific January .. 547,512 429,370
32.541
23,507
Tol. A.A.&N.M ’h January ..
10,814
20,189
Tol. A Ohio Cent. 3d w k Feb
10,544
9,335
Valley o f Ohio.. 1st w k Feb
Wabash—
East of Miss... January .. 432,530 414,880
West of M iss.. 2d wk Feb 107,867 113,502
13,490
11,367
Wheeling &L.E . 2d w k Feb
24,033
27,960
Wisconsin Cent’i 2d wk Feb
3,124
7,036
Min. St.C.A W. 2d w k Feb
2.301
11,657
Wis. A M inn.. 2d w k Feb
R oads .
Atoll. T. & B. F . .
Buff.N.Y.A Phil.
Buff. Rooh.APitt
Bur.Ced.R.ANo.
Cairo Y. & Chic.
Cal. S outhern...
GanadianPaoiflc
Cp. F ’r AY ad. Yal
Central I o w a ...
Chesap. A Ohio.
Eliz.Lex.AB.S.
Chee. O. A S. W.
Chic. A A tlantic
Chio. A East. HI.
Ohio. Mil. ASt.P.
Chic. & N’thw ’n.
Chic. A O . R iv..
Ohio. A W . Mich.
Cin. Ham. A D.
Cin.Ind.St.LufeC.
O n . N. O. A T .P.
A la. Gt. South.
N. Orl. A N. E.
Vicksh. A Mer.
Vicks. Bh. A P .
Erlanger Syst.
Cin.Rlch.&Ft.W.
Cin.Wash.& Balt
Clev. Akron A Col
Clev. & Canton
Oev.Col.C. A Ind
Col. A Cin. Mid.
Col. H ook.V.AT
_
Col. A S o m e _
Denv. A R io Or.
Denv. A K . G.W
Des. Mo. A Ft.D
Det.Lans’gA No
E.Tenn. Va. AG a
Evans. AInd’plis
Evan by . A T .H
Flint A P. Marq.
Week or Mo
1887.
1886.
$
862,203
42.700
28,298
53,877
9,774
26,664
Jan. 1 to Latest Late.
1887.
$
1,286,157
311,800
R oads .
Week or Mo
1886.
1885.
1886.
January .. ,286,157
862,203
301,113
49,300
3d wk Feb
212,201
202,008
3d w k Feb
28,637
315,907
281,039
47,470
2d w k Feb
80,776
52,803
12,646
2d wk Feb
117,479
26,664
January ..
117,479
992,000
837,358
3 d w k Feb 119.000 122,000
17,922
20,533
17,922
20,533
J a n u a ry ..
133,231
101,890
21,461
23,217
1st w k Fee
317,612
261,169
January .. 317,612 261,169
69,130
69,130
59,278
59,278
January ..
140,168
117,266
January .. 140,168 117,266
252,275
27,551
45,565
189.052
3d wk Feb
259,392
33,156
30,195
232,701
3d w k Feb
3 d w k Feb 368.000 365,954 2,545,000 2,557,798
January... ,723,173 ,328,107 1,723,173 1,328,107
5,747
4,395
4,395
5,747
3 wks Jan.
23,991
152,649
24,131
151,747
3d w k Feb
49,474
51,245
389,453
351,398
3 d w k Feb
49.700
368,322
345,095
49,348
3 d w k Feb
384.464
62,783
48.913
290,476
2d w k Feb
22,743
30,764
187,799
137.052
2 d w k Feb
11,221
92,603
12,282
85,622
2 d w k Feb
10,442
74,778
67,070
10,889
2d w k Feb
10,863
82,855
9,744
61,445
2 d w k Feb
822,499
641,665
2 d w k Feb 126,015 104,629
6,211
39.351
37,194
7,203
2d wk Feb
256,714
35,834
35,773
216,369
2d wk Feb
8.880
48,936
8,585
54,189
2d w k Feb
20,830
27,465
27,465
20,830
January...
273.239
281,347
January .. 281,347 273.239
6,139
32,094
5,116
41,346
2d w k Feb
164,982
209,756
January .. 209,756 164,982
7,666
7,666
5,427
5,427
January ..
938,143
739,661
3d wk Feb 134,848 111,586
66,584
71,250
66,584
71,250
January ..
9,50
6,360
38,340
35,869
2d wk Feb
16,014
118.240
18,809
116,506
3 d w k Feb
608,493
480,745
83,750
2d w k Feb 101,939
4,062
25,950
2d wk Feb
81,941
12,654
13,587
71,794
2d w k Feb
41,256
252,721
230,533
38,749
2 d w k Feb
1887.
1886.
56,482
96,310
211,664
1,717,947
189.081
318,125
919,961
>*,832
67,084
44,567
120, *83
1,040.444
254,540
40,983
263,358
199,387
19,182
156,409
20,926
287,027
99,157
1,809,175
204.082
200,442
653,647
47,530
225,731
700,820
45,881
124.250
139,328
257,056
107,344
89,743
45,587
236.015
242,094
2,714,710
60,846
144,459,
84,596
467.015
514,947
910,571
291,112
53,476
274,225
3,851,771
102,858
354,800
93,075
62.400
50,000
39.400
7,900
133,426
155,867
107,974
248,760
655,957
171,533
459.250
40,804
547,512
32,541
142,497
55,560
39,220
58,395
179,768
1,580,379
154,223
307,718
782,749
9.578
48,914
26,988
85,4*0
868,229
235,302
35.120
197,517
105,492
16,089
141,281
16,759
268,835
86,731
1,564,251
173,735
156.011
581,573
34,166
174,092
524,799
44,815
100,584
122,233
170.012
72,064
20,353
30,836
184,263
185,519
2,295,095
51,457
131,072
81,650
352,953
400,123
907,788
274,180
44,790
234,618
3,421,536
85,958
278,527
92,044
63,508
53,714
34,189
6,000
105.374
142,097
88,846
194,833
479,746
107,660
405,539
35.854
429,370
23,507
86,562
47.121
432,530
632,536
76,441
179,271
44,327
72,687
414,880
564,002
60,446
139,009
18,699
16,174
* M exican ourrency.
Latest Earnings Reported.
Latest Earnings Reported.
Jan. 1 to Latest Date.
Balt. A Potom ac
(Camden A Atl
Chicago A Alton
Chio. Burl. A Q.
Ch.8t.P.Min.AO.
Danbury A Nor.
Det.B.CityAAlp.
Fla.Ry.ANav.Co
Jack.Tam.AK.W
L .R k. A Ft.Sm ith
Little R.M .R.& T
Lous. A Mo. Riv.
Lykens V alley.
Mich. A O h io...
Minn’ ap. ASt.L.
eN. Y.L.Erie AW.
N, Y . Pa. A O.
Oregon Imp. Co.
Oreg. Short Line
tPhlla.A R eadg.
D o C. A Iron
tRome W. A Ogd.
Scioto V a lle y . ..
Shenandoah Vai
South Carolina..
Bo.Pac.Comp’y Gal.Har.AS.A.
G.W .Tex.AP...
Louis’a West.
Morgan’s LAT
N. Y W A M ex.
T.
Tex. A N. o r l.
Tot.At.System
Tot. Pao. S y s..
Total of all----Summit Branch.
Union P a cific...
{ West Jersey ...
Jan. 1 to Latest Date.
1886.
1885.
9
1,335,845 1,323,093
561,347
599,09 L
8,035,826 7,993,170
26,728,408 26,556,427
6,153,267 5,814,810
224,870
236,035
242,022
$
December.
December.
4th wkDec
December.
December.
December.
December.
December.
December.
December.
December.
December.
December.
December.
December.
December.
December.
December.
November.
December.
December.
December.
December.
November.
December.
109,609 107,846
28.219
29.597
159,214 158,860
,368,431 2,329,975
563,499 465,811
16,693
17,311
24,542
122,022 112,415
14,438
52,103
72,820
96,525
50,222
54,220
43,453
46.597
67,001
62,481
21,867
20,332
149,184 130,488
,582,598 1,505,885
591,986 539,709
264,470 211,094
160,320 177,800
,576,714 1,648.777
,342,525 1,345,258
233,294 155,616
56,012
61,036
57,765
71,053
97,430 122,509
November.
November.
November.
November.
November.
November.
November.
November.
November.
December.
December.
December.
211,975 343,935 2,352,793 2,866,367
8,235
42,489
4,684
548,671
578,627
64, *38
57,359
398,558 465,353 3,658,143 3,683,382
144,785
24,751
15,796
892,232
91,990
896,014
94,917
783,290 998,502 7,672,825 8,221,776
,041,719 1,715,519 21,284,274 19,631,129
,825,009 2,71-4,021 28,957,097 27,852,902
732,624 1,396,677
103,906 111,170
,343,543 2,303,118 26,603,797 25,674.675
86,865 1,352,460 1,286,013
83,569
110,777
296,595
614,289
723,350
361,522
398,117
562,524
553,858
799,928
756,940
190,308
224,064
1,549,620 1,714,752
18,712,428 16,045,373
6,308,938 5,167,177
2,999,483 2,864,860
1,778,606 1,677,725
29,511,589 28,286,791
15,843,679 15,960,826
2,689,493 1,741,163
683,234
636,779
686,340
1,120,068 1,151,840
c Not including earnings o f New Y ork Pennsylvania A Ohio,
t Not including Central of New Jersey in December in either year
+ And Branches.
% v t s t m je tx î
tx
AND
H a i l r c r a d
S t x t j e X X i f l s t u c j e .
The I nvestors ’ Supplement contains a complete exhibit of
the Funded Debt of States and Cities and of the Stocks and
Bonds o f 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 of the
Chronicle . Extra copies are sold to subscribers o f the
Chronicle at 50 cents each, and to others at $1 per copy.
jgp“ N otice —The I nvestors ’ S upplement will hereafter
be issued on the last Saturday in January, March, May, July,
September and November. This is merely a change in the
months of issue for the convenience of the publication office.
The next issue of the Supplement will therefore be on Sat
urday, March 26, instead of Saturday, Feb. 26, as under the
former arrangement.
ANNUAL REPORTS.
Delaware Lackawanna & W estern Railroad.
{For the year ending December 31,1886.)
The annual report of this company consists of a brief in
come account and balance sheet, issued without note or com
ment, and the statements of four years have been compiled
for the Chronicle as below :
1883.
1884.
1885.
1886.
$
$
$
$
Gross reo’ ts. all sources. 32,819,606 31,311,992 31,091,677 32,342,865
Operating e x p e n se s.... 23,093.048 23,008,147 2 3,220,572 24,954,433
Betterments................... 1.072,818
385,033
443,182
164,029
Total expenses........24,165,864 23,393,180 23,663,754 25,118,462
Net receip ts.-.1 ............... 8,653,742 7,918,812 7,427,923 7,224,403
INCOME ACCOUNT.
1883.
1884.
Net receipts...................... 8,653.742 7,918,813
Interest a ad r e n ta ls.... 4,946,943 5,113,322
1885.
7,427,923
5,187,089
1886.
7,224,403
5,186,711
Balance, surplus.............. 3,706,799 2,805,490
D iv id e n d s....__ . . . . . __ 2,096,000 2,096,000
Kate o f dividends.........
8
8
2,240,834
1,965,000
713
2,037,692
1,834,000
7
Balance after divid’ds..
1,610,799
709,490
275,834
203,692
The report shows that 7*77 per cent was earned on the stock
in 1886, against 8'55 per cent in 1885.
GENERAL BALANCE AT CLOSE OF EACH FISCAL TE AR .
1885.
1886.
1834.
1883.
Assets—
$
$
RK. buildings, equip$
$
34,508,0 47 34,496,431
m’t. coal lands, & c.. 33,089,336 34,250,418
5,374,918 4,770,654
5,449,713
Stks&bds ,own’d,cost
6,503,851
*357,562
*897,331
*527,121
Net cash & cur. aco’ ts
*147,987
941,372
1,221,174
1,049,712
Materials, fuel, & o ...
1,265,810
T ota l..................... 41,007,034 41,276,965 41,181,899 41,335,590
Liabilities—
Stock............................ 26,200,000 26,200,000 26,200,000 26,200,000
3,674,000
4,044,900 3,674,000
Funded d eb t..............
4,0 44,900
B alances................
439,560
Surplus a c c o u n t....... 10,322,574 11,032,065 11,307,899 11,511,590
Total lia bilities......... 41,007,034 41,276,965 41,181,899 41,383,590
* Net balance between liabilities and assets.
The statement of items on either side of the account which
go to make up the above net balance of $897,831 in 1886 are
as follows, compared with similar items in 1885 *
1835.
Accounts receivable, as follows :
$680,231
Cask on h a n d ............................. ...................
768,135
Coal on hand (less than market value) . . .
Advances to leased roads............................. 1,027,745
976,342
Advances on coal to be delivered, & c .......
1,603,299
Coal bills and sundry accounts due....... .
767,700
Assets o f New Y ork Laoba. & West. R R ....
936,915
Loans and sundry accounts receiv a b le....
1886.
$693,904
690,766
1,606.035
1,113,107
1,721,562
741,500
937,467
T otal........................................................... $6,758,379
Less accounts payable, viz :
Past due dividends, interest and ren tals.. $143,911
459.501
Del. L. & W. div. pay. Jan. 20,’86 and ’ 87.
Renta s payable after January 1............... 1,710,546
477,991
State taxes payable after January 1 .........
487,708
December p ay rolls, payable in January..
865,436
Bonds and m ortgages....... ........ .... »............
739,394
Vouchers due and payable after Jan. 1 . . .
831,562
Sundry accounts payable after Jan. 1 .. ...
682,766
Sundry obligations, account o f transpor’n
$7,504,341
$6,400,816
$6,607,010
$357,562
$897,331
T otal............................................... .
Balance, accounts receivable......................
$175,371
453,501
1,724,154
381,756
577,331
860,436
720,«69
755,400
953,193
Northern Central R ailw ay.
{For the year ending December 31, 1886.)
The annual report states that in comparison with the year
1885 there was a decrease in gross earnings of $16,304 and an
increise in expenses of $287,054, or 8 82-100 per cent.
The latter is du 9 to the extraordinary expenditures on the
freight and passenger stations, engine house and new freight
yard at B alum ore, and on double track and additional sidings.
The decrease in net earnings was $303,358, or 13 57-100 per
cent. The aggregate movement of bituminous coal was
1,365,438 tons, an increase of 76,319 tons, and that of anthra
cite coal 2,936,409 tons, a decrease of 265,093 tons. The ton
nage of both classes amounted to 4,301,847 tons, as against
4,490,621 for the preceding year, being a decrease of 188,774
278
THE CHRONICLE.
FEBRUARY 26, 1887.1
tons in the actual aggregate of coal transported, irrespective
of the number of divisions over which it was moved.
The "
amount of grain received at the elevators at Canton, aa ■
compared with the previous year, was: 1886, 8,023,231 bush
els; 1885, 7,354,226 bushels; an increase of 669,005 bushels.
Under the system of car trusts heretofore adopted, arrange
ments have been made fco add to the equipment 1,256 long
gondola cars, the delivery of which will be completed in the
early part of this year.
“ On December 81, 1886, the Chemung Railroad Company,
the Elmira Jefferson & Canandaigua Railroad Company, and:
the Sodus Bay & Southern Railroad Company, all controlled
by your company, were merged and consolidated into a new
corporation, under the name of “ The Elmira & Lake Ontario
Railroad Company.” The consolidated line thus formed, in
cludes all your company’s properties in the State of New York
between Elmira and Canandaigua and Soius Point, and will
be operated as a part of your Elmira & Cauaniaigua Division.”
The comparative statistics for four years have been compiled
for the Chronicle as follows :
OPERATIONS AND FISCAL RESULTS.
1886.
1883.
1884.
188
Operations—
3,407,278
2,848,547
3,131,747
3,197 ,202
Passengers carried..
Passenger m ileage.. 38,003,861 39,009,765 37,324 977 38,439,352:
2 302 Ots,
2-453 Cts.
2-391 cts.
2-329 o ts.
Rate
pass. $ mile.
_____________ m oved 11,394.730 10,774,129 12,091 022 12,173,663
Freight (to ns)
Freight (tons) m il’g e.521,889,324 506,975,576 595,085 163 602,415,245
0-688 OtS.
Av. rate $ ton $ mile 0*910 ots.
0-825 cts.
0-704 ets.
$
Earnings—
$
869 ,120
834,969
932 848
932,390
Passengers
4,192 ,105
4,147,089
4,181,441
FreightT....................
4,749,929
429 ,698
442,559
407,537
Mail exp. & m ’soel...
405,811
Tot. gross ea’-n’g s ..
Operating expeases.
6,088,130
3,831,605
5,521,876
3,468,394
5,490,923
3,255,614
5,474.617
3,542,668
Net earnings.......
2,256 525
2,053,482
2,235,309
1,931,919
INCOME ACCOUNT.
Net earnings..............
Other receipts...........
1883.
$
2,256,525
246,843
1884.
$
2,053,482
263,829
1885
$
2,235,309
254,070
is s e .
$
3,9 31,9 19
277,348
Total incom e.........
Disbursements—
Rentals l’s’d lines.&o*
Interest on debtt.......
Dividends...................
Rate o f dividend.......
M iscellaneous............
2,503,368
$
557,313
881,180
520,000
8
41,130
2,317,311
$
461,761
935,014
520,000
8
46,511
2,489,379
$
442,203
931,272
520,000
8
53,690
£,2 0 0 ,2 9 T
$
446 997
903,0411
520,000
8
44,775
Tot. disbursements.
Balance, surplus...
1,999,623
503,745
1,963,286
354,025
1,947,165
542,214
1,914,8-13
294,484
R e c e ip ts —
* Includes rent o f roads and interest on equipment,
t Includes car trusts.
P hiladelphia & Erie Railroad.
(For the year ending December 31,1886.)
The President, Mr. Wilson, remarks in his report “ that there
has been an increase over the previous year in the number of
passengers and tons of freight transported, and in the amount
of earnings. It will also be observed that with the exception
of the years 1888 and 1884, when there was a slight falling off,
the tonnige has been steadily increasing from year to year,
showing for the year 1886 a larger amount than for any pre
vious year since the opening of the road. There has also been
a moderate but steady increase in passenger travel. The
average net revenue per ton per mile for freight, while yet
very low, is an improvement upon past years. During the
year 1885 the operating expenses were kept down as low as
possible consistently with maintaining the road and equip
ment in good condition, and no expenditures were incurred
that could well be avoided.” * *
|“ In consequence of notice received from the Buffalo New York
& Philadelphia Railroad Company of their continued inability
to pay the coupons on the bonds of the Warren & Franklin
Railway C impany, guaranteed by our company, they were
purchased, in accordance with the terms of the endorsement,
in February and August last. Legal proceedings are still
pending relative to the reorganization of the Buffalo New
York St Philadelphia Railroad Company, but, as far as can be
seen, your company will be reimbursed in future for any pur
chases of coupons it may be called upon to make.”
Comparative statement for four years compiled for the
Chronicle , is as follows :
EARNINGS AND EXPENSES.
E arnings—
P assenger.................
F reig h t......................
Mail, express, &c. ..
1883.
$
667,743
3,243,572
197,528
1884.
$
571,451
2,876,075
212,620
1885.
$
509,950
2,653,407
128,896
1886.
$
541,59®
3,070,029
96,863
Total gross earnings.
Oper. expenses—
Maint. o f way, & o ...
M ot’e p ow ’r & equip.
Transp’t ’h expenses.
4,103,843
$
626,575
1,103,830
890,418
3,660,146
$
498,350
901,064
802,652
3,292,253
$
434,653
844,408
720,312
3,708,485
$
547,081
941,570
753,881
Total (incl. taxes).
Net earnin gs............
P. 0. o f op. ex.to earn.
2,620,823
1,483,020
63-80
2,202,066
1,458,080
60-20
1,999,373
1,292,880
6Q-70
2,242,532
1,465,953
60-50
Receipts—
Net earnings............
R ents....... .................
1883.
$
1,488,020
4,892
1884.
$
1,458.030
9,120
1885.
$
1,292,880
8,471
1886.
$
1,465,953
10,836
Total in c o m e ....
Disbursements—
Interest on d ebt___
Interest on equipm’ t
1,492,912
$
1,062,270
162,281
1,467,200
$
1,062.270
166,801
1,301,351
$
935,620
163,893
1,476,789$
1,129,432
165,274
INCO M E ACCOU NT.
THE CHKONIOLE
274
2Ì',Ì47
8,200
1886.
9
36,422
8,200
Extraordin’y expen.
M iscellaneous...........
Total dlsbursem’ts
Surplus.....................
1,250,218
216,982
1,187,713
113,638
1,339,328
137,461
$
9
$
10,000
43,024
1,277,575
215,337
1885.
1884.
1883.
27,000
Lehigh Coal & Navigation Co.
(For the year ending December 81, 1886.)
The annual report says that the earnings of the Lehigh
& Susquehanna Railroad system increased $78,304 06, and
were larger than in any year before, with the excep
tion of 1883. The chief gain was in freight and express
earnings, and, while the system of railroads does not
extend beyond Scranton, we have been able to get an
increasing amount of Northern and Western business, as
well as to share in the increased volume of local freight traffic,
so that notwithstanding the steady decrease of freight rates
for some years, our earnings from this source have largely
increased, having averaged in the four years 1875 to 1878
$278,824 09, in the four years 1879 to 1882 $498,708 08, and in
the four years 1883 to 1886 $729,579 51. The coal tonnage also
increased, being, with the exception of that of the year 1883,
the largest that has ever passed over the road, and only falling
3,994 tons below that of 1883. * * The passenger and mail busi
ness shows but little increase from year to year, but after this
year it is hoped that our improved facilities will stimulate that
department of our business and give us better results. The
canal earnings show a decrease. The rail freight rates on
coal were so low through the greater part of the year that the
canal rates, which necessarily follow them, had to be greatly
reduced, and it was impossible through most of the season to
ship the smaller coals to New York by canal at all. * * The net
revenues of canalsand water-powers amounted to $48,225 52. * *
Our total revenue for 1886 was $1,728,507, a decrease since
last year of $256,168, which is more than accounted for by
the lessened profit on coal, which was $261,003. The dis
bursements show a decrease of $10,540, and the remainder
shows a decrease of $245,627. From this remainder $89,418
has been deducted for the coal sinking fund, and two divi
dends, one of two and one-half per cent and one of two per
cent, amounting together to $570,408 have been paid, which
drew on the dividend fund to the extent of $39,806. The
work of developing our coal lands hss been pushed forward
vigorously through the year, and the rate of production of
our mines can be fully maintained during the coming season.”
The report concludes as follow s:
“ During the year the lessees of our railroad property dis
charged all of their obligations to us, but the Philadelphia &
Reading Railroad Company having failed to comply with the
terms of the lease under which it held the property of the
Central Railroad Company of New Jersey, the latter com
pany declared the lease forfeited, and resumed possession of
its property on the 1st of January, 1887. Negotiations are in
progress to fix the relations which shall hereafter exist
between the Central Railroad Company and this company. If
they shall continue to operate our railroads we insist that the
relations of the two companies shall be those of the lease of
March 81, 1871, as modified by the agreement of May 29, 1883,
and we hope to reach a satisfactory conclusion which will per
mit us to go on harmoniously with our lessees, and to join
with them so far as may be necessary in the development of
3e years are as follows
1885.
1886.
1884.
R eceipts—
From railroads and Nesque. Tunnel. $1,458,200 $1,459,035 $1,464,381
50,220
97,969
65,971
Lehigh Canal, incl. water powers.......
11,038 def. 1,995
58,951
Delaware Division Canal......................
135,104
370,101
396,108
Net profit on Lehigh Coal.....................
R oyalty on coal mined b y lessees,
revenue from rents, and miscella
52,524
80,797
63,330
neous receipts......................................
$2,048,551 $1,984,676 $1,728,507
Disbursements—
General and legal ex p e n se s...............
Rent and taxes Nesquelioning Val.RR
Rent and taxes Delaware Div. Canal.
T a x e s ...,.................................................
Interest accou n t....................................
Balance o f earnings.....................
Less sink. fd. o f 10 p. o. p. ton on coal
Less deprec’n on coal, im p rV m ’ ts,<&c,
Balance to credit of div’d fd. Jan. 1 ..
$58,460
97,050
69,921
80,078
854,069
$59,454
73,031
61.965
80,039
844,488
$58,948
75,526
39,581
89,739
844,692
$1,159,578 $1,119,027 $1,108,486
$888,973 $865,649 $620,021
$80,717
$93,558
$89,419
76.026
86.869
$156,743
$732,230
665,934
$180,427
$685,222
679,936
$89,419
$530,602
683,843
$1,398,164 $1,365,158 $1,214,445
$718,228 $681,315 $570,408
R ate o f dividend.
Balance to credit o f div’d fund Dec.31
6
$679,930
6
$683,843
4*2
$644,037
The gross receipts of the company’s railroads, and the total
tonnage on the Lehigh & Susq. RR. and the Lehigh Canal,
during 1886, as compared with 1884 and 1885, were as follow s:
Passengers and m ails............................
Freight and e x p re ss.............................
Coal...........................................................
1884.
$211,667
685,555
3,239,907
1885.
1886.
$188,765 $195,756
675,134
875,063
3,233,634 3,105,018
Total.................................................. $4,137,129 $4,097,533 $4,175,837
Lehigh Coal &Nav. Co.’s proportion.. $1,379,043 $1,365,844 $1,391,946
Balance to make up rental...................
35,357
48,556
22,454
Coal tonnage.
$1,414,400 $1,414,400 $1,414,400
4,822,391 5,054,180 5,148,224
[ V ol.
XLTV,
Lehigh & W ilkes-Barre Coal Company.
(For the year ending December 31, 1886.)
A t the annual meeting a vote was passed to issue $2,500,000
new bonds to meet other indebtedness falling due. The an
nual report to the stockholders contains the following :
“ The production during the year from the mines of the com
pany in Wyoming and Lehigh Divisions was 2,435,552 05 tons,
as compared with 1885—2,212,022T4 tons, showing an increase
in 1886 of 223,529 11 tons, being the largest output by the
company in any one year since its organization.
“ On the other hand there has been a general decline in
prices obtained for coal for several years, and the average
realized by this company f. o. b. at Port Johnston for 1886 was
lower than for any year since 1879. The bonded indebtedness
of the company has been reduced during the year by payments
from the sinking funds, $149,487. In the Lehigh region the
heavy rains of the winter and spring caused a general flooding
of the mines, embracing those of our Honey Brook Division.
The damages and necessary repairs from same largely re
duced the out-put for 1886, and added very greatly to the cost
per ton on coal coming from that division, all expenses being
charged to production. For 1887, our mining superintendent
reports the usual shipments may reasonably be expected.
“ In our Wyoming Division, with the exception of $52,840
paid for sinking shafts preparatory to opening the new col
liery at South Wilkes-Barre, all improvements and other ex
penses have been charged against the general business; and
our superintendent there reports the mines in excellent condi
tion for a large product this year, should the demand warrant
it.”
ENDING DEC. 31, 1886.
R eceived from sales o f
coal................................ $7,137.276
137,367
R ec’d from coal leases.
4,689
Franklin Branch R. R ..
Rents.................$90,052
Less for new
houses, & e ... 39,549
50,502
9.960
Interest............................
12,757
Miscellaneous.................
Coal on hand Dec. 31,
311,146
1886, 107,788 t o n s ...
Balance, charged to
12,811
profit and loss............
PROFIT AND LOSSjSTATEMENT FOR THE YEAR
Coal on hand Dec. 31,
1885, 135.434 to n s... $313,467
Mining coa l......... ........... 2,924,992
Coal purchased..............
142,887
Tunnels, new w ork, &c.
104,259
R oyalty on coal m ined.
208,414
Transportation............... 2,4 66,2 91
Harbor and coast frei’ ts
89,760
Shipping, Port Johnst’n
166,268
Pier rent, Port Johnst’n
60,00 )
Newark y ard .................
16,080
Eastern wharves, M ys
tic, Salem, e tc ............
22,065
Salaries, rent, &e.........
69,542
T axes.................
66,278
Insurance........................
15,389
Interest............................
696,499
Charges for eiuk. funds.
284,343
$7,676,541
$7,676,541
N ew
C en tra l C oal C om p a n y
of
M a r y la n d .
( F o r th e y e a r e n d i n g D e c e m b e r 31, 1886.)
T h e a n n u a l r e p o r t f o r 1886 g iv e s t h e f o l lo w in g :
Coal mined in 1886............................................................................
Mined in 1885.......................................................................................
Tons.
in o ’ c io
202>
613
D ecrease..........................................................................................
53.574
T h e d e c r e a s e d p r o d u c t io n w a s c a u s e d b y t h e m in e r s ’ strike
f r o m M a r ch 6 t o M a y 20, 73 d a y s , a n d b y th e s c a r c it y o f cars
o n th e P e n n s y lv a n ia a n d B a lt im o r e & O h io r a ilro a d s.
STATEMENT OF PROFITS FOR 1886.
Deo. 31, balance to credit o f coal accoun t............ . . ..................... ?332,M 1
"
coal on hand....... ........................................ .......................
2,076
$334,327
Deduct amount paid for railroad freights, tolls, miniug, office
and shipping expenses, salaries, eto....... . . ......... .................... - 326,508
Net earnings for the year.................................................................. $7,818
Balance to credit of profit and loss, Dec. 31, 1885.......... ............$296,118
Deduct—
___ „ __
Dividend payable Feb. 3 ................................................. $50,000
Bad debts, e t c . ...............................................................
1,251— 51,251
$244,866
A.dd
Net earnings for tbe year 1 8 8 6 ... ........... ................. .....................
Qq
-*
7>
aig
Balance to credit of profit and loss, December 31, 1886............ $252,684
A d iv id e n d o f o n e p e r c e n t (o n e d o lla r p e r sh a re ) w as
d e c la r e d F e b r u a r y 10, p a y a b le M a r c h 1, 1887.
A m e r ic a n C o a l C o m p a n y .
( F o r t h e y e a r e n d i n g D e c e m b e r 31, 1886.)
T h e a n n u a l s ta te m e n t p re s e n ts th e f o l l o w i n g e x h i b i t :
R eceived for coal sold, rents, interest, &o....................................$134,067
Value of coal cn hand.........................................................................
10,771
$444,839
MiniDg, transportation and shipping expenses.........$380,222
T axes................... ...................... ......................................
6,253
Bond interest to M arch 1, 1 8 8 7 ................................. 12,010
Salaries, contingent expenses, &o............................... 13,453
Legal expenses.................................................................
248
Fire insurance and traveling.........................................
679-
412,857
Profit, 1 8 8 6 .................................................................................... $31,981
Surplus D ec. 31, 1885...................................................$279,677
Less dividend paid M arch 10, 1886............................. 30,000
“
$249,677
A dd gains, 1886............................................................... 31,981—$231,658
Reduced valuation o f personal p rop erty .. . . ......
3,37»
Surplus Dec. 31, 1886............................................ , ................
COAL SENT FROM MINES IN 1886.
$278,230
Tons.
Via Baltimore & Ohio R a ilr o a d ....,................. ......................
V ia Pennsylvania R ailroad...................... ..................................
V ia C. & O. Canal, and local...................................... ................
12, low
211.285
Mexican Telegraph—Central & South American Telegraph,
(For the year ending December 31, 1836.)
Mr. James A. Scrymser, the President, makes the following
very favorable report:
’. Am er.— /—--------- Mexican.------------ .
.
$
è
$
$
Gross revenue fo r 18 86..
Operating expenses.........132,279
Dividends (4 per c e n t )... 160,264
There remained a surplus
from the year’ s earn’gs ..............
This added to the surplus
of Dee. 31. 1885 ........................ .
Left a total surplus o f earnings..
221,001
378,531
59,290
(3 p.C.) 114,752
-----------292,513
174,042
46,959
85,937
68,190
21,786
$ i 54.178
$68,745
The above surplus was after paying the dividend of January,
1887.
The increase of earnings for the past four months, including
January, averaged 43 per cent over the corresponding period
of the previous year on the Central S South Ame 2.can, and 42
c
per cent on the Mexican.
GENERAL INVESTMENT NEWS.
Central o f New Jersey.—Parties closely associated with
President Austin Corbin, o f the Reading Railroad Company,
state that he has secured a controlling interest in the stock of
the Jersey Central Railroad. He and his friends are accredited
with a control of 184,000 shares. It is said that he will take
the property out offthe hands of the receiver, and will make J.
R. Maxwell, of the Long Island Railroad, its President.
A reorganization committee has been appointed, composed
of Frederick P. Olcott, Présidant of the Central Trust "Com
pany ; John R. Maxwell, Vice-President of the Long Island
Railroad ; George F. Baker, John Crosby Brown and J.
Kennedy Tod. The committee will meet in a few days to dis
cuss the affairs of the company.
Chicago & A lton.—The annual report of the Chicago S
c
Alton Railroad shows the gross earnings in 1886 were $8,060,
639 and the operating expenses $4,650,955.
The previous
year the figures were $7,998,169 and $4,612,847.
There was,
therefore, an Increase in net earnings in 1886 of $29,362.
Chicago Milwaukee & St. Paul.—The Chronicle having
obtained from special sources'an early statement of the in
come account for 1886, the figures with some remarks thereon
will be found in the editorial columns. The same remark
applies to the Chicago St. Paul Minneapolis & Omaha.
Cincinnati Indianapolis St. Louis & Chicago.—At the
recent meeting of directors Mr. J. Pierpont Morgan was
elected a director in place o f B. F. Evans, resigned. A quar
terly dividend of l}£ per cent was declared, payable March 15,
to stockholders of record March 1. The following resolution
was unanimously adopted :
Resolved, That in oonform ity to a resolution passed b y the stockhold
ers at a m eeting held October 26, 1886, the Board proceed to issue
$3,000,000 o f new capital stock therein provided for, giving to stock
holders o f record March 18 ,1 8 8 7 , the right to subscribe to their pro
rata proportion at par. less a credit to them to be allowed, as herein
after stated, fo r dividends hetetofore earned but Dot paid, giving to
each stockholder 42 per cent o f holdings as recorded on said data and
evidenced by the stock books o f the com pany, said new etook to be paid
for at par, viz.: Sixty-flve (65) per cent o f its par value in m oney, in
four m onthly cash payments, the first paym ent fo r one-fourth o f the
amount cu e to be made on or befoie the 1st day o f April, 1887; the sec
ond payment on or before the 1st day o f May, 1887; the third paym ent
on or before the 1st day o f June, 1887, and the last paym ent on or
before the 1st day o f July, 1887, no interest to De allowed on said pay
ments, and the residue o f said payment in the credit o f said earned and
unpaid dividends, the certificate or stock to be issued when fu ll m oney
payment is made, and to bear date o f July 1 ,1 837 . No fractional part
of a share shall be issued, but any stockholder entitled to a fractional
part of a share under the allotment shall receive a full share upon a
cash payment o f 65 per cent o f its par value besides credit o f dividends
as aforesaid as upon a full share, the stock not purchased by the stock
holders on or before A pril 1,1887, to be covered into the treasury and
to be disposed o f hereafter; and be it further
Resolved, That the stock books be closed on the 18th o f March, 1887,
and reopened on the 1st day o f April, 1887.
It is stated that of the $1,590,000 obtained by the sale of the
new stock, $1,000,000 will be used in carrying to a completion
the refunding of the outstanding bonds of the company in 4
per cents, now in successful progress.“ The residue will remain
for the present in the treasury.
Cleveland Akron & Columbus.—A loan has been placed in
Amsterdam and contracts made for the building of the Dres
den Branch. Construction has commenced, and track will be
laid to the tunnel, 22 miles, by August 1, and balance to Dres
den completed this year.
Cleveland & Canton.—The gross and net earnings for Jan
uary were as follows :
G r o sse a rn in g s.........................................
Operating ex p e n se s.......................................................
Net e a r n in g s.........................................
Connecticut Central.—The Connecticut Supreme Court o f
Errors has just handed down the full decision in the case in
volving the foreclosure of the Connecticut Central road
between Hartford and Springfield by the New York & New
England holders of the entire stock of first m ortgiee bonds
The stockholders of the Connecticut Central Company
claimed in the court below -that there should ba an account
ing by the New York S New England Company, which
c
leases the road, and that such accounting would show that
the profits were sufficient to pay the interest on the bonds.
The court below, however, gave judgment for the New Eng
land road and a decree of absolute foreclosure. This decree
is set aside and a new trial ordered. The Supreme Court
decision finds nothing unreasonable in the demand for an
accounting.
Duluth South Shore & A tlantic.—Bv its purchase of the
Marquette Houghton & Ontonagon Railroad, the Duluth
South Shore & Atlantic syndicate save the construction of
fifty miles of main line, besides about $2,000,000 which would
have been expended for ore docks and equipment. The syn
dicate owns $2,200,000 of the $2,250,000 preferred stock and
$2,900,000 of the $3,398,150 common stock. By a circular
recently issued it appears that the syndicate proposes to charge
the excess of cost of the Marquette Houghton & Ontonagon
above $3,000.000 to its general fund and raise the $3,000,000
thus. About 80 per cent of the common stock is to be changed
into preferred stock, making a total of about $3,000,000. The
rate of dividends to which the preferred is entitled is to be
reduced from 8 to 6 per cent, and the $3,000,000 prefer red and '
$2,000,000 common stock are to be sold for $3,000,000 to th e'
subscribers to the syndicate pro rata on their subscriptions.
When the above atrangement is completed and the stock
issued, the Duluth South Shore Sc Atlantic will lease in per
petuity the Marquette Houghton & Ontonagon road. The
conditions of this lease will be in brief as follows: The lessee
will pay the Marquette Houghton & Ontonagon its mileage ’
proportion of the net earnings of the whole Duluth South
Shore Sc Atlantic system; that is, if the system should be 600
miles, the Marquette Houghton & Ontonagon will have 160600 of the net earnings. The lessee road guarantees that such
earnings shall be sufficient t i pay the fixed charges and six
per cent on $3,000,000 preferred stock.
—Contractors in Milwaukee have taken the contract to build
sixty miles of the Duluth South Shore & Atlantic R lilroad.
The entire line is said to be under contract, and will ba com
pleted this summer.
Eastern (Mass.)—The directors have declared a dividend of
3 per cent on the pref. stock, payable March 1. All the legal
obstacles have, it is now understood, been overcome.
Illin o is Central.—The item which was in the Western
papers last week, and was copied by the C h r o n i c l e , was erro
neous.
The company has filed no new mortgage, and the
document referred to was nothing more than the trust agree
ment under which this company heretofore issued its 3 per
cent bonds to retire other bonds maturing.
Kansas City Memphis & Birmingham.—A circular has been
issued stating' that the K msas City Mempli. & Birm. RR. Co. of
Mississippi and Tennessee, which had previously become the
owner of all the railroad and other property of the Memphis
Birmingham & Atlantic Riilroad Company, having been con
solidated on Feb. 1, 1887, with the Memphis & Birmingham
Railroad Company, of Alabama, under the name of Kansas
City Memphis & Birmingham Railroad Comp iny, the railroad
and under property heretofore belonging to each of said com
panies will he operated by the consolidated company.
L ittle B ock & F ort Smith.—The company advertises to
pay April 1 the scrip issued for coupon 7, some $90,000 to
$95,000. It will be paid from the proceeds of land sales.
Negotiations are reported to be pending with Mr. Gould for
consolidation.
Mexican Central.—The statement for January is as under:
1887.
Gross earnings................. .............$416,998
E x p e n se s............ ................. .
207,400
1886.
$316,875
207,530
Increase,
$100,123
Deo. 129
N et.............................................. $209,598
$109,345
$100,253
Mexican National.—The gross and net earnings o f this road
for the quarter and year ended December 31 were as follows:
r-Q uarler end. Dee. 31—
s
18-6.
1885.
$322,556
Gross earnings....... 9408,164
Operating expenses 332,740
2b3,958
Net earnings............
$55,424
$28,598
,-------------- Tear.---------------- .
1 8 -6 .
1885.
$1,511,858
$1,321,628
1,249,342
1,112,736
$262,516
$208,892
Milwaukee Lake Shore & Western.—The following is an
,------- fanuary.-------- . official statement of the earnings and expenses of this com
1887.
1886.
$27,465
$20.830 pany for the year 1886:
23,480
19,977
$3,935 $853
Colnmbns & Hocking Coal & Iron Company.—The stock
of this company has just been listed on the New York Stock
Exchange, and a full exhibit concerning the affairs of the
company (more in detail than that printed for the Stock
Exchange Committee) will be found published on another
page under the head ** Reports and Documents.” This re
port, given at length when the stock of the company first ap
pears at the Exchange, will be found of much value to
all readers of the Chronicle , as it goes on record in its files
and volumes, and can always be referred to by turning to the
index in the remarks upon this company in the I nvestors ’
Supplement,
275
THE CHRONICLE
F e b r u a r y 26, 1887.]
Gross earnings...................................................................................
Miscellaneous receipts......................................................................
Operatiug txpen.-es (57 per ceut)
N e t .............................
Interest on funded debt.
R entals..................... .....
.................$1,03 ',3 8 0
$480,270
. 26Ì939— 507,210
Net after paying fixed charges........................................
Three and one-half per cent dividend on preferred stock.
Surplus.,............................
E x pen d-d for im provements
New equipment bought..........
Bonds redeem ed.....................
Net surplus
36,180
$2,353,982
. 1,322,601
Total........................... - ...............
$524,170
175.000
.............. $349,170
*49,074
143,004
130,tOO— 322,079
$27,090
THE CHKON1CLE.
'276
Milwaukee & Northern.—The Milwaukee & Northern Rail
road has filed amended articles of incorporation increasing the
^capital stock from $2,500,000 to $8,000,000. The road is being
extended fifty miles north to Champion, Mich., there to con
nect with the Marquette Houghton & Ontonagon, crossing the
Marquette Iron range and forming a new direct route to Mil
waukee and Chicago.
Missouri Kansas & Kansas.—Asettlement between holders
of the income scrip of the Missouri Kansas & Texas Railroad
Company and officers of the company was reached on the
19th. Mr.' Gould improved his offer by agreeing to pay $200,'000 in cash and to buy $500,000 of the Galveston Houston &
Henderson bonds at 80. The amount of overdue coupons and
outstanding scrip involved in the settlement is about $2,850,000, and it is estimated that under the terms accepted the
Bcrip will receive about 9 0 per cent of the face value. The
holders get 00 per cent in the general mortgage bonds of the
Missouri Kansas & Texas Railway, 40 per cent in Galveston
Houston & Henderson bonds and $200,000 in cash. The suit
against the company is to be withdrawn.
New York Stock Exchange.—The governors of the Stock
Exchange have admitted to dealings at the board the follow
ing securities:
rVOL. XL1Y.
P hiladelphia & R eading.—The deposit of securities under
the syndicate re-organization plan are very large, and no
notice has yet been issued of any extension of time beyond
March 1.
—In accordance with the resolution o f the committee of the
N. Y. Stock Exchange, adopted February 23, Messrs. Brown
Bros. & Co. of New York and Philadelphia are now prepared
to stamp Philadelphia & Reading Railroad Company certificates
of stock assenting to the plan of reorganization, as amended
Dec. 14,1886. The stamp reads as follows:
“ The holder o f this certificate has assented to the plan o f reorganiza
tion o f Dec. 14, 1836, published b y the Reconstruction Trustees of the
Philadelphia & Reading Railroad Company, and the terms o f agreement
o f March 22, 1886, therein referred to, and has agreed to deposit the
same with the undersigned, the depositaries of said Trustees, at their
office in Philadelphia, as soon as an engraved certificate can he given in
exchange therefor, and to pay the assessments thereof when and as
required.”
R ailroads In New York State.—The following reports for
the quarter ending December 31 have been made to the
Railroad Commissioners:
/ Buff. N. Y. dt P h ila -.
—
1885.
1886.
$656,208
Gross earnings......... ...$ 630 ,862
478,507
Operating expenses.. . . . 590,616
M issouri K ansas & T e xa s R a il w a y .—A n additional $1,Net earnings....... . . . $40,246
000,000 general consolidated mortgage bonds, m aking the total Other in c o m e .......... . . . 13,413
am ount now listed $84,725,000.
Total n et.............. . . . $53,659
Columbus & H ocking Coal & Iron Com pany .—Capital
stock $4,318,500 in shares of $100 each and mortgage 6 per
cent gold bonds due Jan. 1,1917, $700,000.
N e w J e rse y J unction R ailro ad .—First mortgage 4 per
cent bonds due in 1986 guaranteed principal and interest by
the New York Central & Hudson River Railroad Company,
$2,000,000. The authorized issue is $4,000,000, $1,000,000 of
which can only be issued with the consent of the New York
'Central & Hudson River Railroad Company.
P hiladelphia & R eading R ailro ad . —Assented stock
stamped by Brown Bros. & Co., and also certificates with
Philadelphia stamps when indorsed by Brown Bros. & Co.
O regon R a il w a y & N a vigation Com pany .—An additional
$665,000 consolidated mortgage 5 per cent bonds.
New Y ork Chicago & St . L ouis R a il w a y .—Central Trust
Company certificates for deposits of first and second mortgage
bonds under the new trust for reorganization.
Northern Central.—At the annual meeting this week the
■following directors were elected : George B. Roberts, Wistar
Morris, George Small, J. N. Hutchinson, Dell Noblit, Edmund
'Smith, B. F. Newcomer, John P. Green, Henry Gilbert,
Harry Walters, Henry James, J. N. Du Barry. A. J. Cassatt
was elected President ; Mr. Frank Thomson was elected Vice
President, Stephen W . White, Secretary, and J. S. Leib,
Treasurer.
G od. James H. Wilson moved the following resolutions,
which were referred to the incoming board of directors.
“ Resolved, that the board of directors be directed to declare a tw o
per cent cash dividend, payable on and after 15th March prox.
* Resolved, That it is the sense of this m eeting that so long as the
•
earnings continue as large as they are now they will ju stify the board
o f directors in the paym ent o f semi-annual dividends o f 5 per cent, in
stead o f 4 per cent, as heretofore.
« Resolved, That it is the sense o f this meeting that the net earnings
belon g to the stockholders, and the directors are requested to ascertain
the amount o f snch net earnings expended in paying off the funded debt
•of the com pany and in making additions to its property, and report the
am ount o f such expenditures to the n ex t meeting o f the stockholders.
“ Resolved, That for a reasonable proportion o f all such sums so ex
pended hereafter, dividends o f paid-up capital stock shall be made till
the capital stock o f this com pany shall have been increased to its legal
lim its.”
The following, by B. F. Newcomer, was adopted:
Resolved. That the President and directors o f this com pany be, and
they are hereby authorized from time to time, in their discretion, to in
crease the capital stock of the company b y an amount which, with the
existing capital stock, will make the total oapital stock not exceeding
$8,000,000.”
Int., rentals & taxes. . . .
93,470
.-----N. Y. dt N. Eng___ _
1886.
1885.
$1,042,169
$950,500
661,890
581,429
$177,701
44,663
$380,279
32,293
$369,071
21,583
$222,364
222,742
$412,572
302,402
$390.654
455,293
Balance............... def.$39,811 def. $382 su r.$l 10,170 def.$64,63g
r-y. Y. Ont.<£ W est.-, -------- L. S. dt M. So.------- ,
1886.
1886.
1885.
1885.
$4,648.501 $3,970,941
Gross earnings.......... ...$ 327 .108 $481,573
2,586,638
Operating expenses. . . . 271,605
385,458
2,172,961
Net earnings....... . . . $55,503
$96,115
16,573
$2,061,863
48.674
$1,797,930
Total net............. . . . $55.503
Int., rentals A taxes . . . 64,335
$112,688
87,353
$2,110,537
1,052,546
$1,797,980
1,126,764
Balance..............d e f.$3,832 sur.$25,335 sur.$l,057,991sur.$671,216
Rome & Decatur.—This railroad is partly built and the
balance is now under construction through the rich mineral
and agricultural country of Georgia and Alabama. A full
statement in regard to the road, its location and prospects,
will be found on a subsequent page. The first mortgage 6 per
cent gold bonds are offered for sale in New York by Messrs.
Grovesteen & Pell, 66 Exchange Place.
Savannah Dublin & Western.—Colonel A. B. Linderman,
President of this road, has sold $450,000 of the first mortgage
6s. of the company on thirty miles of the road to a New York
syndicate at 85. This line will parallel the Georgia Central.
Texas & Pacific.—A settlement between the Reorganiza
tion Committee of the Texas & Pacific Railway Company and
the Income bondholders has been reached. The terms of the
settlement now agreed upon are that the Income bondholders
shall receive 60 per cent o f the face value of their holdings in
the series " B ” bonds of the new company, the unsold lands
and the land notes in the company’s treasury, which are said
to amount to nearly $1,000,000.
The bondholders, on the
other hand, are to provide for a settlement with holders of
the outstanding scrip, now amounting to $2,240,000.
As a
rule, the holders of the bonds and the scrip are identical, and
the agreement of the bondholders’ committee, therefore, is
considered final.
Utica & Black R iver.—This railroad company has just de
clared an extra dividend of
per cent.
This is in addition
to a late extra dividend of 3 per cent, both made possible by
the sale of property left on hand after the recent lease.
147th Call for U. S. Bonds.—The Treasury Department
—The gress and net earnings for January have been as has issued this call under date of February 21, 1887, retiring
$10,007,750 three per cents on the first day of April, 1887,
follows :
,---------Janu ary.--------- . numbered as follow s:
Gross earnings...................................................... .
•Operating expenses.................................................
1886.
$514,918
284,723
1887.
$400,123
255,834
Net earnings.................................... - ..........
$230,225
$144,289
Pennsylvania Railroad.—The gross and net earnings for
January, 1887 and 1886, were as below given, and show an
increase in gross earnings of $430,235 in January, 1887, over
January, 1886, and an increase in net of $262,816. On the
linea west of Pittsburg & Erie the net result, after payment
of all charges, shows a gain of $356,048 in January, 1887, com
pared with January, 1886.
LINKS B A ST O F P IT T SB U R G AN D ERIK .
,------ Gross Earnings.— >
—
1887.
1886.
J a n u a ry ...................$3,871,771
$3,441,536
.------- Net Earnings.------1887.
18fc6.
$1,214,351
$951,541
LINKS W E ST O F P IT T SB U R G & E R IK .
Net surplus or deficit after p aym ent o f charges.
1887.
1886.
Diff. in 1887
January............
Sur. $222,361
Def. $133,687
Gain. $356,048
P eoria Decatur & Evansville.—Following is a statement of
the gross and net earnings of this road as obtained for publi
cation in the C h r o n i c l e :
,------ December.— >
1885.
1886.
$62,343
Gross earnings................. $77,955
33,055
Operatingexpenses...........
31,tS 4
Net earnings......... .
$46,321
$29,288
.------------Year.—
1885.
1886.
$736,985
$814,745
405,192
393,069
$421,676
$331,793
$50—Original No. 24 to original No. 25, both inclusive.
$ i0 0 —Original No. 352 to original No. 374, botli inclusive.
$500—Original No. 149 to original No. 162, both inclusive, and orig
inal No. 4,235 to original No. 4,236, both inclusive.
$1,0C0—Original No. 1,222 to original No. 1,320, both inclusive.
$10,000—Original No. 2,886, to original No. 3,958, both inclusive.
— Messrs. Griswold & Gillett offer to investors at 103 and
accrued interest a limited amount of seiies nine and ten of the
Baltimore & Ohio Car Trust bonds, bearing interest at
per
cent per annum, and having nine and ten years to run. It is
hardly necessary to remark that a bond of the Baltimore &
Ohio Railroad is to be ranked among the choicest securi
ties of the day. The bonds are secured by a mortgage of new
rolling stock of the Baltimore & Ohio Railway Company made
to the Mercantile Trust & Deposit Company of Baltimore,
where principal and interest are payable.
— The Connecticut Mutual Life Insurance Company has
issued this week its forty-first annual report, which will be
found on the 6th page of the C h r o n i c l e . The net assets at
the close of the year were $54,071,189, which is a srain of
over a million dollars as compared with January 1, 1886. The
surplus computed on the 4 per cent basis is $5,242,243. The
Connecticut Mutual has adopted conservatism as the distinc
tive principle of its management compared with the other
great corporations, and upon this basis it invites the business
of all who desire to have their life insurance in a company of
this character.
February
26, 1887. J
^ z p o x t s
THE CHRONICLE.
a tu l
J lG u tm u e tits .
NEW YORK & PERRY COAL & IRON COMPANY.
STATEMENT TO THE NEW Y ORK STOCK EXCHANGE,
NOVEMBER 6, 1886.
277
N E T E A R N IN G S F O R Q U A R T E R EN DIN G J A N U A R Y 31, 1887
$17,100 00
2,850 tons I r o n .............................................................................
Coal, estim ated.......................................................
o
no
Store, estim ated..................................................... 3,120 00
$23,284 00
T o t a l... .................................................................................
Surplus, last statem ent.....................................$297,482 75
Less D iv id en d ........................... ........................... 18,750 00—$278.732 75
A corporation, organized June, 1885, under the laws of the
State of New York, being a re-organization of the New York
S u r p lu s ................................................................................ „ $302,016 75
& Straitsville Coal & Iron Company, without any bonded
A second furnace is in course of construction and will be
indebtedness, by the purchase of the property and clearing completed in May or June which will increase the capacity to
and perfecting the title.
over 3,000 tons of iron a month.. A dividend of 1% per cent
The suit of foreclosure was instituted on behalf of the bond was paid on the capital stock January 25th.
holders by Joseph Vilas, in Common Pleas Court, Perry Co.,
State of Ohio, December term, 1884, and judgment rendered
ROME & DECATUR RAILROAD.
26th January, 1885, in favor of Joseph Vilas, being for title of
OFFICIAL STATEMENT AS TO TH E PROPERTY.
furnace property and leases formerly owned by the New York
The road ha,s just been completed from Rome, Ga., to
& Straitsville Coal & Iron Company.
At a Court of Common Pleas, held at New Lexington, Round Mountain, Ala., twenty-five miles. The first mort
Perry County, State of Ohio, on the 1st of April, 1885, the gage bonds bear interest at six per cent per annum, payable
return of the sale of furnace, lands, tenement rights, ease • December and June; principal due 1926. Road standard
ments and lease made by Philip M. Brunner, sheriff, pursuant gauge, steel rails, 56 pounds ; iron bridges under contract for
to the order and judgment made and rendered at last term of its entire length to responsible builders, and now in rapid
Court, whereby it appears that he sold the same to Joseph progress of construction ; bonded for only $15,000 per mile.
Vilas, and that the Court having carefully examined the said Line from Rome, Ga., to Decatur, Ala., 145 miles.
This road will be the shortest line from Atlanta and other
return and proceedings of the sheriff, finds that the said sale
has in all respects been legally made, and that such sale was eastern points to Memphis, St. Louis, Kansas City and the
confirmed and the sheriff ordered to make and deliver to the Northwest, and it will be the main thoroughfare of North
said Joseph Vilas a deed conveying to him in fee simple all Alabama.
Starting from Rome, the road will run through the fine
the estate and interest of the parties hereto in the property,
rights and easements so sold. Such deed was made and dated valley of the Coosa River to Gadsden, Ala., and thence five
on the 15th day of April, 1885, by Philip M. Brunner, Sheriff miles to Attalla, there making connection with the A. G. S.
of Perry County, Ohio, to Joseph Vilas, and recorded June R. R., leading to Birmingham. The resources of this part of
29,1885, in Perry County, Record o f Deeds, vol. 82, pages 74. the line are well developed, and will furnish the following
heavy freight business: the cotton crop of the Coosa River
75 and 76, by C. H. Tinker, recorder.
On the 22d day of June, 1885, Joseph Vilas and Mary P. valley, amounting to 60,000 bales; the output of four large
Vilas, his wife, of Manitowoc, in the State of Wisconsin, made iron furnaces, one at Round Mountain, and three in Gadsden,
deed of above-named property to George A. Blood, trustee. which wilt be about 70,000 tons of pig iron ; besides the coal,
Said deed was recorded in Recorder’s Office of Perry County ore, &c., which they will require to have hauled, say 50,000
Ohio, on the 6th day of August, 1885, in Perry County, Record tons ; the lumber from mills at Gadsden and along the line of
of Deeds, vol. 32, pages 163, 164 and 165, by C. H. Tinker, road, amounting to sixty-five million feet, besides all the
general merchandise for Gadsden and other distributing points
Recorder.
On the 24th day of June, 1885, George A. Blood, as trustee, on the line, This part of the road will be the shortest line of
deeded the above property to the New York & Perry Coal & travel between Birmingham, Ala,, and Dalton, Ga.,to Eastern
Iron Company, which deed was recorded August 6, 1885. vol. points, and will also be a competing line for through travel
between Birmingham and Atlanta ; therefore its through
32, pages 165, 166 and 167.
The plant consists of one furnace, with boilers, engines, fares should be estimated as a large factor in its earnings. To
dams, reservoirs, buildings, cars, railroad tracks, bank tracks this should be added all the travel from Gadsden and towns
for mining coal and iron ore, and all appliances complete for on the line.
Leaving Attalla, the road will cross tte plateau of Sand
storage of stock and the manufacture of pig iron, mining of
iron ore; also coal for converting ore into iron and also for Mountain, enter the cold fields of the upper Warrior, pass
through the head of Murfree’s valley, and proceed thence
shipment to market, with real estate by both real estate and
leases of 800 acres of rich mineral laud, located in Shawnee, through a splendid agricultural district to Decatur, Ala. This
territory, heretofore undeveloped by any line of railroad, con
Perry County, Ohio. *
tains thriving villages, and wears a general aspect of pros
Expended in surface im provement about..................................... $225 000
Expended in underground im provem ent about..........................
10o!o00 perity. Its mineral resources have attracted universal atten
Working capital in cash.....................................................................
30 OOO tion, and are destined to be developed into great magnitude.
Capacity o f furnace, about 1,200 tons pig iron per month.
The plateau of Sand Mountain is note! for its fine climate and
Capacity o f mines, about 20,000 tons coal per month,
varied products. When it is made accessible by rail it will
r, ,
,
FINANCIAL CONDITION NOVEMBER 1 , 1 8 3 3 .
Keal estate, Iron works, mineral lands, mineral rights,
become a most inviting field for settlers. Descending the
engines, boilers, buildings, reservoirs, leases and other
property................................................................. . c j 500 000 00 western slope of this plateau the road will enter the coal
fields; and here is a district unsurpassed in facilities for manu
Railroad tracks, coal bank tracks (inside and out), rails
9
9
.,on
car8>liorses, mules, buildings, warehouses, <fcc.
75,000 00 facture of iron. It contains numerous large veins of coal,
Merchandise in store and in warehouses, estimated
11,875 00 inexhaustible beds of irou ore, both red and brown, and
Improvement account................... ............
35,606 65 abundance of limestone. In a word, all the material for the
Iron on h a n d ................................l.WY.................
7,200 00
Iron shipped, but unsettled j estimated’
........................
6,000 00 production of pig iron lying in close proximity. The road
Coal shipped, estim ated ...................
199 46 from this district on to Decatur will traverse one of the rich
Kent account..........................
87 75 est agricultural regions in the South. The growth of timber
Cash................. ...............
..................................................
39,529 89 on the uncleared lands is remarkably fine, offering the greatest
Bills receivable
37,500 00
24 onn on inducements for the establishment of saw-mills. The towns
Stock o f ore estim ated..............................................................
Capital stock in treasury................................ .79 700 00
along this part of the line will ship a large amount of freight
in cotton and other products, and be distributing points for a
$1,816,698 75
large amount of fertilizers and merchandise.
L IA B IL IT IE S .
Ore account.......... .......... ................................. $10,533,00
In estimating the business that will be done on this part of
Limestone account......................................
233 00
the line, the “ business of this territory not being developed
store accounts................................ .................
3 4SO on
like that on the part of the line from Rome to Attalla, the
October......................................................... 5AI00 00
capital sto ck .................................
1,500,000 00
figures will necessarily be comparative. The freights of cot
1,519,216 00 ton will probably be as large, as this crop is grown along the
Surplus.................................................................................... $297,482 75 entire line. The freights of lumber will be as great or greater
The net earnings of the company for the six months ending after allowing time for the establishment of the saw mills.
October 31st, 1886, were $47,256, with the price of iron at $16 Coal mines will probably be opened simultaneously with the
The output of a few mines worked
Per ton, being equal to a dividend of six (6) per cent per an completion of the road.
num. The present advance in the price of iron of $2.00 per to a moderate capacity would amount to 150,000 tons for the
ton justifies us in stating that this company will be able to first year ; the freight from this source would grow to a very
The shipments of iron ore will probably be
^ re g u la rly , at least six (6) per cent per annum on its capital great volume.
large, to supply the new furnaces projected at Decatur, as
There is no bonded or other indebtedness upon the property, well as to other points, as the demand for iron ore is rapidly
increasing. It is highly probable that large iron furnaces will
lhe directors of the company are:
President, O. Robinson Griggs; Vice-President and General be established on the line of the road at the coal fields on ac
In this event a large
manager, George A. Blood; Treasurer, Frank P.'Perkins; Sec count of the facilities already recited.
retary, A. Howard Carner ; Charles C. Allen and W , H M amount of pig iron would be added to the freights of the
road, beside the hauling of material for such furnaces.
oistare.
When the road reaches Decatur it will open the shortest
The office of the company is at 15 State Street, New York.
transfer office and registry, Farmers’ Loan & Trust Com- line for travel and traffic between Atlanta and Eastern points
and Memphis, St. Louis, Kansas City and the Northwest.
pany,
It will consequently have a large through freight business
nfti?pli Cati<^ is, hl r^ made to have listed the capital stock and through passenger receipts from this source. It will also
Bhn?6 NJ?W ¥or£ & Ker y Coal & Iron Company, being 15,000 be the shortest line from Atlanta to Sheffield, Ala.
Shares of par value of $100 per share, $1,500,000.
,, .
.
C. ROBINSON GRIGGS, President.
L i t t l e R o c k M i s s i s s i p p i R i v e r & T e x a s .— It is stated that
in?Iv.06 the fore£orng statement was prepared, the statement Mr. Jay Gould has transferred to the St. Louis Iron Mouutain
S d iseS n o w s ° dlQ S J a n U a ry 31’ 1887’ h a s c o m e t0 ^ n d , & S ;uthern the Little Rock Mississippi River & Texas, which
he recently bought at foreclosure sale.
THE CHRONICLE.
278
^cpoxts atul gocurajeixts.
THE COLUMBUS & HOCKING COAL & IRON COMPANY.
LULL STATEMENT AS SUBMITTED TO THE N. Y. STOCK
EXCHANGE.
Application is hereby made to have listed the bonds and
Capital Stock of The Columbus & Hocking Coal & Iron Com
pany. Bonds, $1,000,000. One thousand bonds o f $1,000
each. Nos. 1 to 1,000 inclusive. These are thirty-year six per
cent interest-bearing bonds, dated January 1, 1887, and are
secured by a mortgage covering the entire coal, ore and fur
nace property of the Company in Hocking, Perry, Athens and
Vinton counties, Ohio. Their redemption is provided for by a
sinking fund as recited in the terms of the mortgage. Coupons
to be paid by the Central Trust Company of New York.
Capital Stock, $4,318,500. 48,135 shares at $100 per share.
Authorized Capital, $5,000,000.
Dividends payable at the
Central Trust Company of New York.
The Company was organized and incorporated at Columbus,
Ohio, January 26th, 1883. The General Offices are located in
Columbus, Franklin County, Ohio.
The property and business of the Company is divided into
two general divisions: The Central and South-eastern Ohio
Departments.
The Central Department, with headquarters at Columus,
Ohio, comprises the general offices of the Company and their
large retail and wholt sale coal and iron yards in the City of
Columbus, with their full equipment of screens, bins, railroad
tracks, switches, and other peisonaland real property. It also
includes the branch offices and coal and iron yards in the cities
of Toledo, Sandusky, Detroit, Chicago, Milwaukee and Ash
land.
The South-eastern Ohio Department lies in the counties of
Perry, Hocking, Athens and Vinton, and consists of theSiraitsville, Monday Creek, Snow Fork and Ohio River divisions.
The Straitsville Division lies on the Straitsville Branch of
the C. H. V. S T. Railway, between Logan, in Hocking
c
County, and New Straitsville in Perry County, and consiste,
first, o f the lands and town-site of Winona, with its
blast furnace fully equipped with the Whitwell stove hot-blasts,
and all other nectssary buildings; railroad tracks, screens, and
other personal pr operty; likewise, a store Luilding and 29 dwell
ing-houses. Also, ore and limestone banks for furnishing
mateiial for the successful operation of the Winona blast fur
nace. Second, this division further comprises the lands and
town-site of Gore, Hocking County, with its blast furnace fully
equipped, with all necessary buildings, tracks, and other per
sonal property. On these lands is likewise situated mine No.
1, which supplies the market and the Gore blast furnace with
Coal for the manufacture of pig-iron. Also, extensive ore
mines, which furnish the ores for reduction in the blast fur
nace; likewise a store building and 75 dwelling-houses. Third,
this division also contains the lands, town-site and blast fur
nace of Bessie, Perry County, Ohio. This furnece is of the
latest pattern, supplied with a large Whitwell stove hot-blast,
and all other necessary buildings, tracks, and other personal
property, Connected with this furnace is a store building and
87 tenement dwellings. Fourth, this division also contains
the company’s lands, coal mines, hoppers, buildings, and other
personal and real property located in the town of New Straits
ville, Perry County, Ohio. At this point the company are
working the following large coal mines known as Nos. 3 (coal
from this mine going over the B. & O. RR.), 5, 7, 9, 11, 13, 33,
35 and 43. The coal from these mines going into the general
market over the C. H. V. & T. Railway. Here, likew ise, is
located a store 1uilding, barns, offices, and all other buildings,
personal and real property, required for the successful opera
tion of a large mining industry, including 62 dwelling-houses.
The Monday Creek Division lies in the counties of Hock
ing and Athens, and upon the Monday Creek Branch of the
C. H. V. & T. Railway between Straitsville and Nelsonville.
It comprises, first, the lands, town-site, furnace and buildings,
known as Greendale, Hocking County, Ohio. The laads at
this point contain ore and coal used in the blast furnace for
the production of pig iron. The furnace is built in accordance
with the latest designs, and equipped with all necessary t<acks,
buildings and personal property. Here is also located a store
building and office with 61 dwelling houses. Second, the large
coal mine, known as No. 15, situated in the town of Sand Run,
Hocking County, Ohio, with buildings, hoppers and personal
property, for operating a large mining property. Likewise, a
store building and 20 dwelling houses. Third, a mine known
as No. 17, with buildings, hoppers and equipments, situated in
the town of Carbon Hill, Hocking County, O., including a store
building and 23 dwelling houses. Fourth, the coal mine
known as No. 19, in the town of Longstreth, Ohio. This mine is
without question the finest and best equipped of any coal
property in the State; the entire output being mined and
handled by machinery. Surrounding the mine and upon the
lands of the Company are 50 dwelling houses, and brick store
building and offices. Fifth, the remaining mining property
o f this Division is located at Nelsonville, and includes the
mine known as No. 31, with its hopper and other equipments,
a' brick store building, offices and 40 dwelling houses.
The Snow Fork Division is located on the Snow Fork
Branch of the C. H. V. & T. Railway, extending from Nelson
ville to Murray City, in Hocking County. First, the largest
and finest property in this division comprises the entire townsite of Buchtel. Here is located the Akron blast furnace, the
largest and test equipped of any furnace in the Hocking Val
[V ol. XLÎV.
ley. Surrounding this furnace are the large coal mines known
as Nos. 21, 23, 25 and 27, which supply the blast furnace with
fuel and also send large quantities of coal into the market.
Here is also located the largest and best store and office build
ing in the Valley. The store is doing a merchandising busi
ness of $120,000 a year. Here, likewise, the company owns
212 dwelling-houses and other large buildings. Second, at
Murray City is located a large coal mine and property known
as No. 29, with one of the most complete equipments of this
region. Surrounding it are all necessary buildings and other
ersonal property, together with 24 dwelling-houses and store
uilding.
This, in a few words devoted to each separate property
owned by the company, will give some idea o f its large pos
E
sessions.
The fourth and last division of the Valley Department
lies in the County of Vinton, on the Ohio River Division of
the C. H. V. & T. R’y, running frbm Logan to Gallipolis.
Here are located the large iron ore mines of the company, at
Eagle, Creola and Oreton. These mines supply the blast fur
naces of the company with large and valuable quantities of
iron ore. On these lands are also located store, buildings,
offices, and 56 dwelling houses. A brief recapitulation of
these possessions will show as follows :
S large blast furnaces—capacity, 70,000 tons per year.
17 active coal mines—capacity 2,000,000 tons per year.
689 dwelling bouses, w ith a yearly rental o f $35,000.
10 stores, with a yearly business and sales o f $300,000.
13,351 acres of land owned by the com pany.
1,207 acres leased by the com pany.
14,558 controlled b y the company.
In addition to this the company has personal property on
hand at the several points mentioned amounting to $434,254 78, and divided as follows :
Mine personal property..................
$50,845 98
Furnace personal p rop erty .......................................................... 13,455 64
Merchandise and stores................................................................
30,000 00
474 large railroad cars.................................................................. 143,000 00
3,822 tons o f pig iro n ............... ......... ..................... . ..................
61,156 00
Sundry personal p ro p e r ty ...........................................................
12,328 29
Furnace stocks...........................................
123,468 87
35,294 tons native iron ore,
1,521 tons lake ore.
769 tons of limestone.
1,325 tons mill cinder.
547 tons Buchtel ore.
838 tons o f coke.
The gross earnings, operating expenses and net earnings of
the company from March 1, 1888, to January 1, 1887, are as
follows:
Bate.
March
A pril
A pril
A pril
Gross earn'gs.
1, ’ 83, to April 1, ’84 .. 1,667” 282
1 , ’84, to April 1 ,’ 8 5 ... 800,584
1,’ 85, to April 1, ’ 0 6 ... 1,220,924
1 , ’86, to Jan. 1 ,’ 87*.. 1,050,172
10
90
37
70
Optr. Exp.
1,527,747
700,041
1,060,505
919,882
Net earn’gs
79 139,534 31
94
100,542 96
88 160,418 49
81
130,289 87
* 9 months.
Interest charges per annum on bonds of $1,000,000, $60,000.
During the years 1884 and 1885 the coal and iron business of
the Hocking Valley was almost entirely interrupted for a year
by the great strike, so that these years do not at all represent
the true earning capacity of the company.
FINANCIAL STATEMENT JAN. 1, 1887.
Resources.
Real estate and im provements as ab ove............................. $4,828,170 02
Inventory, peisonal property....... ................................ .
400,395 37
7,797 43
Bills receivable...........................................................................
A ccounts receivable................. ........................ ................. .
271,716 70
Railw ay accounts receivable..................................................
59,610 71
Advanced r o y a ltie s ............ ...................................................
35,214 65
Cash on h a n d .............................................................................
54,631 Oo
$5,657,535 88
Liabilities.
Capital stock issued.................................................................. $4,313,500
Interest-bearing debt (provided for b y issue o i $1,000,000 bonds).......................................... .................... ..........
996,600
Non-interest bearing d eb t............................. ......................
184,913
162,521
Balance of resources over liabilities.....................................
00
54
36
98
$5,657,535 88
To provide for the payment of the company’s indebtedness
an issue of $1,000,000, six per cent thirty-year bonds has been
created, secured by mortgage upon the 18,851 acres of lands,
mines, furnaces, dwellings and stores abdve referred to, with
a judicious sinking fund provision which will provide for the
whole issue by the date of maturity.
T H E COLUM BUS & H O CK IN G C O AL & IR O N CO.
Directors Sam’l Thomas, LewisjMiller, W. A. Lynch, John R . Buchtel,
Benj. Marshall, J. A. Long, Walter Crafts, H. D. Turney, F. W. Merrick.
Officers :
..W alter Crafts.
President and Treasurer.............................
..J . R. Buchtel.
Vice-President..............................................
_.H. D. Turney.
Secretary........................................................
,H. F. Holloway
Assistant Secretary.....................................
Transfer Agent, A. O. Beebe, 10 Wall Street, New York.
Registrars, Central Trust Company of New York.
N. Y. C h ic a g o & St . L o u is .—On behalf of the minority
stockholders of the Nickel Plate Railroad, William Armstrong
has filed an intervening petition in the Superior Court at
Chicago for the purpose of ascertaining the true amount that
went into the construction of the road, and to cause Brown,
Howard & Co., of Chicago, to account for the amounts used
in construction of the road.
T h e
- 279
THE CHRONICLE.
F e b r u a r y 26, 1887.]
O L D tu n u era a l
COTTON.
jin x e s .
Friday , P. M., Feb. 25,1887.
The Movement of the Crop , as indicated by our telegrams
COMMERCIAL EPITOME.
from the South to-night, is given below. For the week ending
this evening (Feb. 25), the total receipts have reached 95,013
F r i d a y N ig h t , Feb. 25,1887.
balss, against 86,583 bales last week, 108,257 bales the previous
The intervention of a close holiday (Washington’s Birthday week and 130,753 bales three weeks since ; making the total
oa Tuesday) has been an interruption to business, but trade receipts since the 1st of September, 1886,4,776,234 bales, against
for the spring season has made very good progress. The evil 4,536,847 bales for the same period of 1885-86, snowing an ineffects of the recent strikes have ceased to be seriously felt, crease since September 1, 1886, of 239,887 bales.
Receipts at—
Mon.
Sat.
Tues.
Wed. Thurs. Fri.
Total.
and there is now no important trouble with labor at any point.
Knights of Labor, through their extravagant assumptions and Galveston.........
507 2,212
789
674
917
715
5,814
....
....
Indianoia, &o.
....
conspicuous failures, have apparently lost much of their in
fluence with the working classes, who are returning to their New O rleans... 3,963 10,656 9,496 4,260 6,806 3,345 38,526
M obile................
441
619 1,750
644
210
329
3,993
more natural affiliations in trades unions. Floods have abated, Florida.............. ......
....
....
....
....
270
270
and interruptions to railroad traffic have ceased. Congress Savannah.......... 1,031 3,114 1,723 2,926 1,933 1,047 11,774
....
....
.... .... ..
Brunsw’ k, &o.
enters upon the last week of its session with much important
• •••
312
312
910 1,705
654
961
728
6,054
routine business, such as the appropriation bills, still unfin Charleston....... 1,096
....
....
P t R oyal, &o.
....
....
• •••
431
431
ished, but it is probable that the necessity for an extraordinary W ilm ington. . . .
171
122
268
164
51
101
877
session will be avoided. The President’s veto of the Pauper
....
....
Moreh’d C.&o.
....
....
3
3
Norfolk..............
795 1,785 1,315 1,062 1,132 1,663
Pension bill was sustained.
7,752
403
West Point,&c
474
604
368 3,525
368
5,742
The speculation in lard opened the week quite buoyantly,
....
663
....
746
638
22
2,074
and on Monday a material advance was made, the close being New Y ork .........
Boston...............
479 1,101
90 1,422
573
823
4,491
at the highest figures of the season; but with the peace news B altim ore.........
....
....
• •••
....
• ••• 5,000 5,000
from Europe, a considerable decline set in, and to-day Philadelp’ a, &c.
52
127
70
1,454
197
1,900
the speculation was dull until after ’Change, when there otals thisw eek 9,013 21,880 17,841 13,087 14,867 18,325 95,013
was a sharp rally. Lard on the spot has been fairly active For comparison, we give the following table showing the week’s
since prices took a downward turn. To-day the market was total receipts, the total since Sept. 1,1886, and the stock to-night,
quieter, closing firm at 7c. for prime city, 7*15@7,20c. for prime and the same items for the corresponding periods of last year.
1886-87.
to choice Western, 7’50e. for refined to the Continent and 7*60c.
1885-86.
Stock.
Receipts to
This Since Sep. This Since Sep.
for refined to South America.
Feb. 25.
Week.
D A IL Y CLOSIN G P R IC E S O F L A R D F U T U R E S .
Saturd’y. Mond’y.
7 ’27
March deliv’y -- * 7*22
April
“
. . 7*30
7-35
May
« .. 7-37
7-43
June
“
.. 7-42
7-50
July
“ .. 7*50
Tuesd’y.
k
O
S
o
w
Wedns’y. Thursd’ y. Friday .
7-25
7*17
7*24
7-31
7*24
7-27
7-38
7*31
7-34
7-45
7-37
7 ,4<t
7-47
1 ,1 3 8 6 .
G a lv e s to n ...
5,814 674,318
Ind’nola,&o
New Orleans. 38,526 1,532,751
M obile...........
3,993 201,636
F lorid a .........
270
22,093
Savannah. .. 11,774 754^859
B r’sw’ k, &c
312
25,744
Charleston ..
6,054 370,246
Pt.Royal,& o
431
16,016
Wilmington .
877 130,577
M’head C.,&c
3
3,711
Norfolk.........
7,752 497,835
W.Point, &c.
5,742 298,911
New Y o r k ...
2,074
77,539
Boston . . . . . .
4,491
73,488
B altim ore. . .
5,000
60,685
Philadel’a,&o
1,900
30,825
Week.
6,320
34,502
4,440
125
12,622
156
6,010
198
666
8
9,000
5,763
822
10,396
609
1,230
1 ,1 8 8 5 .
632,876
781
1,506,995
226,046
48,084
699,370
14,530
428,359
11,022
88,714
5,176
452,402
227,384
48,594
80,417
37,601
28,493
1887.
1886.
53,160
61,612
349,883
19,978
368,603
49,150
Pork has been more freely offered in the past three days, per
69,282
74,788
mitting the execution of many orders, and the close was firm
at $1450@$15 25 for old and new mess, $12 50@ $12 75 for extra
20,225
67,023
prime and $15 50@$16 25 for clear. Cutmeats have been dull;
703
205
pickled bellies 7%@7%o., hams
and shoulders 7@
4,032
7,735
714 c. ; smoked hams 12^@13c. and shoulders 73
4C. Beef is
steady at $8 50@$9 for extra mess and $9 50 for packet per bbl.,
*31,506
34,674
and $18@ $20 for India mess per tierce. Beef hams are easier
8,809
at $20 50@$21 per bbl. Tallow is lower and dull at 4 l-16c.,
252,371 299,799
Stearine is firm at 7%@7%c. and oleomargarine is quoted at
10,500
6,3 10
6J^o. Butter is firmer at ls@30c. for creamery and 16 J 27c. for
20,904
35,305
State dairy. Cheese is steady at 12)^@ 13%c. for State factory
22,008
22,082
full cream and 7@12%c. for skims. Tne number of swine
slaughtered at the West (including minor points) for the season Total............ 95,013 4,776,234 92,867 4,536,847 863,361 1,025,290
to February 16th was 5,880,000, against 6,165,000 for the cor
»S tock corrected b y ttie addition o f 2,775 bales transferred from
responding period last season. The following is a comparative N ewport News daring February.
summary of aggregate exports from Nov. 1 to Feb. 19:
In order that comparison may be made with other years, we
1886-7.
1885-6.
give below the totals at leading ports for six seasons.
Pork, lb s .........................
15,014,600
Bacon, &c., lbs............... 1.77,969,483
Lard, lbs........................... 123,542,281
15,383,200 Dec.
368,600
167,595,076 Inc. 10,334,407
92,920,481 Ino. 30,621,800
The dealings in Rio coffee for future delivery were active,
and prices were well maintained until yesterday, when more
weakness was developed, followed by a further decline to-day,
when the close was with sellers at 12 20@12,30c. for the active
months. Coffe%on the spot has been dull in all grades, and
fair cargoes Rio close nominal at 14c. Raw sugars have been
dull and drooping, closing l-16c. lower, at 4J£c. for fair refin
ing Cuba and 5%c. for centrifugal 96 deg. test. Refined sugars
are also a fraction cheaper. Molasses is dull at 19c. for 50 deg.
test. Teas have a moderate sale.
Kentucky tobacco has been less active and the sales for the
week are only 250 hhds., o f which 200 for export; prices are
somewhat nominal at 3J£@43^c. for lugs and 5@ 10%c. for
leaf. Seed leaf was in moderate demand, and the sales of the
week were 1,475 cases, as follows: 300 cases 1881 and 1883
crops, Pennsylvania seed, ll@13J^c.; 425 cases 1885 crop, do.,
ll)^@18c.; 150 cases 1885 crop, Pennsylvania Havana, 10@
25c.; 150 cases 1885 crop, State Havana, 14@17c.; 200 cases
1885 crop, Ohio, 6%@8c., and 250 cases 1884 and 1885 crops,
Wisconsin Havana, 7@10c., also 450 bales Havana, 60c. @$1 05,
and 300 bales Sumatra, $1 20@$1 60.
There has been no important change in naval stores. Spirits
turpentine is held at 39c., and common to good strained rosin
at $1 02J^@$110, but tar is lower at $1 80@$1 90. Crude
petroleum certificates had a speculative advance, notwith
standing the production was large, but there was a sharp
decline yesterday, and the close to-day was quiet at 61%@
61.%c. Metals are quiet. The interior iron markets are de
pressed, but recent sales include 10,000 tons foreign Bessemer
pig at $21, duty paid here. The speculation in Straits tin has
been dull at 22%c., and ingot copper is weak at 10%@10%c.
Ocean freights have been very active in the engagement of
room for British ports, with a good business to Germany and
the Baltic, but to the Mediterranean shipments are moderate.
The supply of room has been ample, however, and there is
little advance in rates. The shipments of petroleum have
been mainly in cases tQ distant points,
Receipts at—
1887.
Galvest’n.&o.
New Orleans.
M obile...........
Savannah . . .
Charl’st’n, &o
Wilm’gt’n, &o
Norfolk.........
W. Point, &c.
All others . . .
5,814
38,526
3,993
11,774
6,485
830
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
7,246
31,859
2,474
8,469
10,126
484
5,968
3,964
5.897
18,240
46,619
3,264
13,417
13,773
2,360
22,111
5,912
9,625
4,543
13,254
2,638
7,2 46
4 ,8 53
1,771
8,430
1,303
7,937
Tot. this w ’k.
95,013
92,867
50,312
76,487
135,321
51,980
1886.
1885.
1884.
1883.
1882.
Since Sept. 1. 4776,234 4536,847 4390,034 4340,218 4901,714 4058,486
Galveston inoludes Indian oia; charleston includes P ort R oyal, &o.
Wilmington includes Moreh’d City,&o.; W est Point includes City Point, A©
The exports for the week ending this evening reach a total
of 84,830 bales, of which 58,924 were to Great Britain, 9,037
to France and 16,869 to the rest of the Continent, Below are
the exports for the week and since September 1, 1886.
Week Ending Feb. 25.
From Sept. 1,1880, to Feb. 25,1887
Exported to—
________ Exported to—
Great
Conti- Total Great
Conti
Brit’n. France nent. Week. Britain. France nent.
TotalGalveston..... 5,038
4,032 9,691 235,870 30,852
89,293 855,52F
New Orleans.. 20,764 3,963 1,367 26,094 552,507 295,690 249,366 1,097,503Mobile............
35,182
35,182;
........
Florida............
........ 1,223 1,223 227,831 18,048 190,030 436,609
Savannah.......
Charleston.... 2,063 1,900 2,030 5,99»
87,423 42,144 122,342 251,909
Wilmington... ........ ........ ........
90,823 7,980
9,490 108,273
Norfolk.... ... 8,355 ......
3,335 286,823 • .M8,800 290,623
West Polnt.&c
84,713 2,150
8,406
95,269
13,813
New York..
52 L 8,091 22,425 322.827 35,625 154,417 512,369
9,891
Boston.. ...
9,891
90,864
1,345 98,209
2,018 2,653
Baltimore.,
5,271 80,015 7,785
19,769 107,599
Phlladelp’a, Ac
782
100
882 82,334 ........
2,724 35,058
Export»
from—
58,924
48,378
9,037 16,869 84,830 2,132,248 440,354
851,582 3,424,184
8,599 88,173 95,150 1,597,361 310,220 990,048 2.897.629'
THE CHRONICLE.
280
K
la addition to above exports, our telegrams to-night also give
ns the following amounts of cotton on shipboard, not cleared,
at the ports named. W e add similar figures for New York,
which are prepared for our special use by Messrs. Carey, Yale
ft Lambert, 24 Beaver Street.
S g oaE.g' m ô ® P
oí
il D
Cs
fQ D
b 2-"£
J*
r
*■2*3 • sLsr
P >
■g* • S «ri Q
e f ; p it? ! • Q>
to «
i fg ■
2 T ! •?
*4 ! 8 ! » • flp! *
: B i •p 3
On Shipboard, not elearedr-for
Feb. 25, AT-
Leaving
Stock.
Other
Great
B ritain. France. Foreign
Coast
wise.
Total.
11,351 32.679
None.
None.
2,200
300
None. 14,900
4,712
None.
None.
None.
None.
7, If 0
1,000
None.
3.380
None.
1,200
1,100
2,1*48
1,650
None.
None.
77,913
6,000
5,0G0
16,800
18,089
17,650
11,950
9,000
30,503
6,000
1,800
800
10,529
16,000
4,800
8,000
New Orleans___
M obile. . . . . . . . .
C harleston.......
S a v a n n a h ... . . .
Galveston.........
N o rfo lk ........ ..
New Y o r k ... . . .
Other p o r t s .....
• <§•
iS ir
co
271,970
13,978
15,225
52,482
35,071
13,856
240,421
57,956
®M
.Eg oaE»
I
j¡tí
>
Stej
NEW ORLEANS.
UPLANDS.
S a t.
Ordln’y.fttlb
Strict O rd..
Good O ld ..
Btr. G ’d Ord
Low Midd’g
Gtr.L’w MlS
M iddling...
G ood M id..
Htr. G’ d Mid
Midd’g Fair
Fair............
6ls ie
714
83v«
S«»
m o n T u e s S a t.
613, fl
714
83,e
8%
9*16
93s
9»ie
W
91l6
O
M
.
9%
99ie
V
*4
91316 Ö ls «
lO lja lO iie
J
10716 107je
J
lU ie l l xie
W e d T it. F r i.
6l3le
714
83,6
86s
9118
938
9916
913,6
101,6
107,0
IH16
613le 613,e
1H
7H
83,6 83,e
88s
88a
91,6
»h e
93s
93s
89,6 99.6
913,6 913.6
10116 101,6
107,6 107,fl
l U i e IH16
7
77,e
83s
818,e
8*4
99ie
9\
I Q o n ^ u e « S a t.
7
77,6
838
8i3,e
Ok
89,e
9%
10
10
lo i*
105 g
lo i*
101>8
llk
UH
W ed T h .
7
77,6
838
8*3,6
914
99,6
9%
10
1014
1088
HVt
7
77,e
838
813,6
914
99,6
9%
10
10k
1088
11*4
STAINED.
S a t.
..* lb .
G ood O r d in a ry ....
Strict Good Ordinary.......
Low Middling.....................
M iddling.............................
68s
7316
81«
9
0°8
7b16
818
9
O rdln y.W l)
Strict O rd..
G ood Ord..
Str. G’d Ord
Low Midd’g
Str.L’w M ld
M iddling...
Good M id..
Str. G’d Mid
Midd’g Fair
Fair............
TEXAS.
O
M on T ues
t
7
77,e
838
8i3,e
8^
7
77,6
83¿
813,6
W
«
914
O
O
a
a
So ie
9916
934
93i
g*
&
5
•4
*4
10
10
;
IOI4 IOI4
;
10®8 1088
5
III4
UH
F r i. W e d T it. F r i.
7
77 iß
8%
813,6
914
9916
9H
10
1014
108b
1114
7
77,6
838
813je
9*4
99,6
93t
10
10*4
105g
11*4
7
77,6
838
813,6
9*4
99,6
93t
10
10*4
108s
11*4
m on T ues W ed
T it.
F r i.
683
78)6
8*8
9
6»8
78,6
81
«
9
6 58
78,6
81s
9
Holi
day.
7
77,6
838
813,6
9*4
99,fi
9\
10
10*4
10 Sg
11*4
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teto
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coco 0 co ce co 0 co coco 0 co
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i . o"
R: K
•
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œ
O
D
¡a © —
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SaE.5 S o ® 3
m© 9 g*
:F<S b “ »
■o o
*
w
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oi® S ®00»
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700,959
77,932 11,651 62,641 10,178 162,402
Total 1887.......
i* : i9 :
i or:
to
0 CO C C 05 C
0
©I
COCO C
OO O
O
9,934 173,365
851 925
88,965 16,253 58,213
Total 1 8 8 6 . . . .
692,789
52,937 18,349 31,462 11,688 109,436
Total 1 8 8 5 .......
o -tí®*- i^oo oo
w
►
The speculation in cotton for future delivery at this market
ϩ 5
coco ► coco
4
g
2
has been fairly active for the week under review, but prices
O.Kh ’
I ooo:
I 0.^:
have fluctuated within narrow limits. A better market on
0
5
0 © C C ex ?
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to©©©
q
Saturday was followed by a decline on Monday, under the
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unexpectedly large receipts at the ports ; and an advance on
>
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coco 5
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5
Wednesday, due to the generally better tenor of the foreign
»
O' OI 9
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OJ COM**
© I^ M 1
^
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advices, was more than lost on the same day, under sales to
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realize, with the temper of operators on our Cotton Exchange
CD CD CD Q CO CDCO Ç> CO
ci» o i O c5i © © ° w
adverse in most cases to a higher range of values. Yesterday
©
05 0505 cn ib O
was “ notice day” for March, and the Liverpool report was
CC ►
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weak, but there was a strong report from Manchester and the
KkCOH*!* to to to ^
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erp I
receipts at the interior towns were smaller, giving the bulls
<¿-4 I © « © « © © o © C C 0<0
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renewed confidence. The feature o f the day’s business was
5
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*• 0 3 (0 en
© © ie- en
the activity in exchanging March for May and the later
b.
►
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months, operators paying 20 points premium for May. To-day
-j-ï g
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O© *
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O
business was less active but the general features much the 05 C ^ ï © ^ :
I
P ! *45*
en
CX_
same as yesterday, there being a slight advance. Cotton on co ; |^05 (0100 ©
COCD o CO
the spot was very quiet; quotations were advanced l-16c. on
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U
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{Saturday last, and to-day the market was firm though quiet
coco 5
coco 5 coco
OÒ
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•on the basis of 9 9-16c. for midling uplands.
O (O tò© ^ c » -* -■ '100 4
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m
The total sales for forward delivery for the week are 334,700 ■ , 00* 1 ö C : 1 9 W! 1
i
O
CO uà 05
coco©co © © © © © © § ©
bales. Fonimmediate delivery the total sales foot up this week
1,067 bales, including 150 for export, 917 for consumptior, §i 8 obobOob ocob5 <i <ioc Oob
0
*
O
coto 0 H M C
— for speculation and — in transit. Of the above, — bales
coco ►4
coco ►
co co ►
<
were to arrive. The following are the official quotations for
ob oo A
00 00 a 0000
to to
<lül
05 co
each day of the past week.
TA
1 0 co J
*
4 1 0 co!
1 0 co j
Feb. 19 to
Feb. 25.
X I IY .
[V O L.
©
03, .
O©
Odi I
I9
! I
II
I«
MARKET AND SALES.
The total sales and future deliveries each day during th<
•Inoludes sales in September, 1886, lor September, 42,900; Septemweek are indicated in the following statement. For the conNovember,
venience of the reader we also add a column which shows at a ber-Oetober, for October, 287,200.; September-November, for September441,700; September-December, for December, 765,100;
•
4
glance how the market closed on same days.
January, for January, 1,685,900.
-4 -J g
SA LE S O F S P O T A N D T B A N S IT .
SFO T M A R K E T
CLOSED.
S a t ..
M on.
T u e s.
W ed.
Thürs
F r i..
Q uiet® I16 a d v ..
E asy .....................
Quiet and e a sy ..
Q u ie t...................
Total. - — — ................
Ex Con- Spee- Tranp ort. sump u l’ t’n sit. Total.
81
.... 275
.H oli
136
150 814
111
....
....
917
....
....
150
....
....
FUTU RES.
Sale».
Deliv
eries.
81
275
52.000
67,600
....
136
464
111
70,900
82,800
61,400
100
....
1,067 334,700
100
The daily deliveries given above are aotually delivered the d> y
previous to that on which they are reported.
T he Sales and P rices
dug comprehensive table.
of
F utures are shown by the follow
w~ m*
*
iraDnierable Orders—Saturday, 9 ’55o.i M onday 9*50o.; Tuesday,
• -fl
___ e.; Wednesday,I9‘45c.; Thursday, 9'45o.; F riday, 9 -50c.
The following© © O ©
exchanges have been made during the week :
•09 pd. to exeh. 100 Mar. for Apr.
Even 1,200 Feb. for March.
•45 p d vto ex ch. 50C Nov. for July.
•46 pd. to excli. l o o Nov. for July.
•32 pd. to excli. 200 Mar. fo r July.
•26 pd. to excli. 1,000 Mar. for June.
•34 pd. to exeh. 1,400 Mar. for July.
•33 pd. to exch. 1,000 Mar. for July.
•27 pd. to exch, 500 Mar. for June.
•10 pd to exch. 11,500Mar. for Apr.
•09 pd. to exch. 2,000 Apr. for May.
•28 pd. to exch. 4,900 Mar. for J une.
•25 pd. to exch. 1,000 Apr. for July.
*40 pd. to exch. 2,700 Mar. for Aug.
•17 pd. to exch. 900 Mar. for Sept.
35 pd. to exch. 200 Mar. for July,
•30 pd. to exch. 1,200 Apr. for Aug.
•27 p d .toex oh . 2,200 Mar. for June.
•16 pd. to exch. 200 Mar. for July.
•20 pd. to exch. 1,900 Mar. for May.
*09 pd. to exch. 200 Apr. for May.
•20 pd. to exch. 900 Mar. ror May.
•11 pd. to exch. 600 Mar. for Apr»
•42 pd. to exch. 200 Mar. for Aug.
'36 pd. to exch. 800 Mar. for July.
•09 p d. to exch. 300 Nov. for Oot.
•29 pd. to exch. 1,000 Mar. for June
*01 pd. to exch. 100 Mar. for Max.
s. n. 1st.
•19 pd. to exch. 12,100 Mar.for May
Even 100 Feb. for Mar.
281
THE CHRONICLE
26,. 1887.J
Fe b r u a r y
T - b V isible Su pply op Cotton to-night, as made up by cable
i
and telegraph, is as follows. The Continental stocks, as well as
those for Great Britain and the afloat, are this week’s returns,
and consequently all the European figures are brought down
to Thursday evening. But to make the totals the complete
figures for to-night (Feb. 25), we add the item of exports from
the United States, inducin' ■ ■ ' ’
1884.
978.0G0
61,000
1887.
Stook at L iv e r p o o l......... bales . 960,000
10,000
1886.
709,000
17,000
1885.
945,000
32,000
Total Great Britain s t o c k . 970.000
3,000
Stock at H am burg...........
33,800
Stock at Bremen..........
31,000
Stock at Amsterdam . . . .
Stock at Rotterdam . . . . . . . . . . .
400
1,200
Stock at Antwerp....... .
, 259,000
8took at H avre.................
3,000
8took at M arseilles.........
42,000
Stock at Barcelona..........
7,000
Stock at Genoa.................
9,000
Stock at Trieste...............
726,000
4,000
41,100
30,000
300
2,100
160,000
5,000
64,000
9,000
4,000
977,000 Ì1,039,000
3,400
7,500
68,900
49,200
56,000
52,000
1,000
500
2,800
1,100
223,000
213,000
6,000
5,000
54,000
70,000
13,000
6,000
6,000
6,000
. 389,400
319,500
410,300
434,100
Total European stocks ....1 ,3 5 9 ,4 0 0 1,045,500 1,387,300 1,473,100
India cotton afloat fo r Europe. 184,000
145,000
99,000
177,000
Amer’n oott’n afloat fo r Eur’pe 405,000 379,000 329,000 423.000
42,000
27,000
Egypt, Brazil,&c., allt.fo r E ’r’pe
39,000
17,000
Stock in United States ports .. 863,361 1,025,290 802,225 948.594
200,972 203.336
Stock In U. S. interior to w n s.. 270,905 414,172
4.000
20,400
22,098
23,445
United States exports to -d a y ..
The above totals show that the old interior stocks have
decreased during the week 19,159 bales and are to night 141,267
bales less than at the Bame period last year. The receipts at
the same towns have been 7,201 bales less than the same
week last year, and since September 1 the receipts at all the
towns are 70,201 bales more than for the same time in 1885-86.
Quotations
for
Middling Cotton
at
Oth er Markets .—
In the table below we give the closing quotations of middling
cotton at Southern and other principal cotton markets for each
day of the past week.
Week ending
Feb, 25.
G alveston. . .
New Orleans.
M obile..........
Savannah. . .
Charleston. .
Wilmington..
N orfolk.........
Boston....... .
Baltimore___
Philadelphia.
Augusta____
Memphis . . . .
St. Louis.......
Cincinnati...
Louisville___
CLOSING Q U O TATIO N S F O R M ID D LIN G CO TTO N ON—
Satur.
8 13le
9L s
8i5ia
ta
9 >4
93la
9Bie
9«8
930
90s
8 1Bie
9*18
8 lBie
9*8
9
Mon.
8 78
9*16
81Bia
9 lla
9*4
93la
9Bie
90s
930
91*8
816X8
91x8
9
9*8
9*e
H
©
*4
Wednet.
T hu n.
87a
91j8
8161«
9lxe
9*4
9*18
9 bI8
9°8® %
938
9%
9
91xe
9
9*6
9*8
Tuet.
8 7a
9*8
8*6X8
9*16
9*4
93la
9*4
968®%
9»8
F ri.
8 7a
9*8
9
91X8
9*4
93X6
96ia
96«
93s
934
9
91xa
9
9*8
9*8
9
91x6
9
9*8
9*8
R eceipts from the P lantations . —The following table
indicates the actual movement each week from the plan
tations. The figures do not include overland receipts nor
706.000 Southern consumption; they are simply a statement o f the
324,0C0 weekly movement from the plantations of that part of the crop
428.000 which finally reaches the market through the outports.
Total visible s u p p ly .......... 3,148,764 3,049,407 2,865,897 3, 281,030
Qfthe above, the totals o f Am erican and other descriptions are as fo llov e:
American—
Liverpool stook .. . . . . . . ..b a le s
Continental s t o c k s . . . . . . . . . . . .
imerloan afloat for E u r o p e ...
United States s t o o k . . . . . . . .......
United States Interior sto ck s..
United States ex p o rts to -d a y ..
727.000
299.000
329.000
81*2,225
200,972
20,400
762,000 525,000
284,000 257,000
405,000 379,000
863,361 1,025,290
270,905 414,172
22,098
23,445
948.594
208.336
4.000
Total Am erloan................... 2,607,364 2,623,907 2,378,597 2,618,930
Matt In d ia n , B r a n t, <tc.—
272.000
184.000 2 1 8 , 0 0 0
Liverpool stock . . . . . . . . . . . . . . . 198,000
61,000
3 2 .0 0 0
17.000
London sto ck .. . . . . . . . . . . . . . . . .
10,000
110,100
1 1 1 ,3 0 0
62,500
Continental stock s................
105,400
177.000
9 9 .0 0 0
145.000
India afloat fo r Europe......... . 184,000
42,000
2 7 .0 0 0
17.000
Egypt, Brasil, dec., a f l o a t ......
39,000
Total East India, A c ......... 536,400 425,500 487,300 662,100
Total American.................. 2,607,364 2,623,907 2,378,597 2,618,930
T o t a l v is ib le s u p p ly . . . . . . . 3 , 1 4 3 , 7 6 4
Pdoa Mid. Upl., L iv e r p o o l....
Prloe Mid. Upl., New Y o r k ....
3 ,0 4 9 , 4 0 7 2 ,8 3 5 , 8 9 7 3 ,2 8 1 , 0 3 0
5Sl6d.
99i60.
43*d.
8*3lao.
6*8(1.
ll^ o .
5 78 1
<,
10so
t y The imports into Continental ports this week have been
83,000 bales.
The above figures indicate an increase in the cotton in sight
to-night of 94,357 bales as compared with the same date of
1886, an increase of 277,867 bales as oompared with the corres
ponding date of 1885 and a decrease of 137,266 bales as
oompared with 1884.
Ar the I nterior T owns the movement—that is the receipts
foi the week and since Sept. 1, the shipments for the week, and
the stocks to-night, and the same items for the corresponding
period of 1885-86—is set out in detail in the following statement
H H
H H *
?
•
H M►
1886.
1887.
1885.
1886.
1887.
110,810 155,884 298,080 493,250 366,428
75,295 134,804 182,531 280,872 476,342 351,361
89,785 122,418^180,753|
271,790 469,013 336,612
68,621 105,792 108,257 265,045 454,116 832,798
54,824 102,524 80,582'284,331 448,170 321,866
50,3121 92.8671 95,013 2 1
6,4321442,606 801,199
1885.
1886.
1887.
87,132 89,367 132,567
68,087 117,896 117,464
80,703 115,089 116,004
52,87ft 90,893 104,443
32,510 96,578 75,150
32,563 87,803 74.846
The above statement shows—1. That the total receipts from
the plantations since September 1, 1886, were 5,029,873 bales;
in 1885-86 were 4,963,603 bales; in 1884-85 were 4,589,801 bales.
2. That, although the receipts at the outports the past week
were 95,013 bales, the actual movement from plantations was
only 74,846 bales, the balance being taken from the stocks at
the interior towns. Last year the receipts from the plantations
for the same week were 87,303 bales and for 1885 they were
32,563 bales.
A mount of Cotton in Sight F eb . 25.—In the table below
we give the receipts from plantations in another form, and add
to tnem 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.
1 8 8 6 -8 7 .
1 8 8 5 -8 6 .
1 8 8 4 -8 5 .
1 8 8 3 -8 4 .
4 ,7 7 6 , 2 3 4 4 ,5 3 6 , 8 4 7 4 ,3 9 0 , 0 3 4 4 ,3 4 0 , 2 1 8
5 ,0 2 9 , 3 7 3 4 ,9 6 3 , 6 0 3 4 ,5 8 9 , 3 0 1 4 ,5 1 8 , 8 2 7
583,220 5 5 9 ,1 9 9 4 4 2 ,4 7 8
4 4 4 ,6 7 1
1 9 4 ,0 0 0
1 6 4 ,0 0 0
1 4 4 ,0 0 0
1 5 0 ,0 0 0
Total In sight Feb. 25..........
4 2 6 ,7 5 6
1 9 9 ,2 6 7
1 7 8 ,1 0 9
5 ,8 0 6 , 5 9 3 5 ,6 8 6 , 8 0 2 5 ,1 7 5 , 7 7 9 5 ,1 1 2 , 9 9 8
toco
H
O)
M
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00 -40DO©tOCOrfAQOüiMO. M COCD ct if* CO <1
.
Since
Sept, 1 , ’8 6 .
to
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"05 05 w 7 o -X CO*1M 05W
M X M G C ÌC 9 W W O M
©
w w
w w c
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w la c o
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c -ic ic o w — eco i
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ae figures for Loi’ ‘
J e in both vf
ahis year’ s flo wi0) estimated.
are “ net.”
i n
Northern spinners’ takings to
1 ,2 1 9 , 0 7 6 1 ,2 7 0 , 6 5 6 1 ,0 0 3 , 5 7 3 1 ,1 0 5 , 7 3 5
Receipts,
h00 a
H to
M
-4 W M W - 4
W Ml ì M
M M 05M M
W©
© © Q O © * O M W © W W W M « * -© W W M W
-J W © © M © © M © M -1 M M © W ® W © ©
This
week.
3 4 ,1 9 6
W j
O I CD
o ! co
w 1 9*
£» 1 CD
CO to
031 -
®
2 5 3 ,1 3 9
I
212
183
265
212
1 ,5 3 9
! 42 934
55>r » r . r
6 ,3 2 7
g
8 ,7 3 8
1
1885.
Tot. receipts from planta’tns
Net overland to Feb. 1 ............
Southern eonsumpt’n to Feb. 1
dso- ¿FiPJ P iiyfp II
■ P S g g ig - 3
Receipts at the Porte. St’k at Interior Town». Rec’pts from Piantai
Receipts at the ports to Feb. 2 b
Interior stocks on Feb. 25 In
excess of Septem ber 1 ...........
P K Igf
g p ö ii® i® 5,
® Î ® fC
D
f
E
Week
Ending—
It w ill be seen by tbe above that the increase in amount in sight
to-night, as compared with last year, is 119,791 bales, the increase
as oompared with 1884-85 is 630,814 bales and the increase over
1883-84 Is 693,595 bales.
W e a t h e r R e p o r t s b y T e l e g r a p h . —Rain has been gen >
eral at the South during the week, and in some sections the
rainfall has been heavy, interfering with preparations for
planting. The Mississippi River continues at a high stage,
overflowing some lands in Arkansas, but it is of course too
early in the season for damage to result to farming interests.
btalveston, Texas.—W e have had rain on three days of the
week, the rainfall reaching forty-five hundredths of an inch.
The thermometer has averaged 63, ranging from 51 to 74.
Palestine, Texas.—It has rained on three days of the week,
the rainfall reaching one inch and ninety-one hundredths.
The thermometer has ranged from 36 to 65, averaging 52.
Iteio Orleans, Louisiana.—It has rained on six d iys of
the week, the rainfall reaching four inches and forty-five
hundredths. The thermometer has averaged 69.
Shreveport, Louisiana.—Rainfall for the week one inch
and seventy-two hundredths. The thermometer has aver
aged 51, the highest being 69 and the lowest 38.
Columbus, Mississippi.—W e have had rain on three days
of the week, the rainfall reaching two inches and thirty-six
hundredths. The thermometer has averaged 53, ranging from
38 to 74.
Leland, Mississippi.—Rainfall for the week one inch and
eighty hundredths. The thermometer has ranged from 40 to
72, averaging 53 6.
Greenville, Mississippi.—It has been cloudy during the
WPr k with rain on four days, the rainfall reaching one inch
d ninety-five hundredths. Tbe thermom* i has range 1
rom 42 to 71.
282
THE
CHRONICLE.
Clarksdale, Mississippi.—The early part of the week the
weather was clear and pleasant, but dunog the latter portion
there has been rain on one day, retarding somewhat prepara
tions for planting. The rainfall reached one inch and thirty
hundredths.
The thermometer has averaged 54*8, ranging
from 42 to 68.
Vicksburg, Mississippi.—It has been showery on four
days of the week, the rainfall reaching three inches and
twenty-eight hundredths. The thermometer has ranged from
47 to 79, averaging 57.
Gloster, Mississippi.—W e have had rain on four days of
the week, the rainfall reaching three inches and fifty-one
hundredths. Average thermometer 66, highest 81, lowest 50.
Helena, Arkansas.—We are having too much rain, it hav
ing rained constantly on two days of the week, to the extent
of two inches and five hundredths. The river is still rising
and will rise here for a week or more. It is now six feet below
high water mark and overflows considerable land on the
west side. It is too early to do much damage; the main
trouble is with stock. The thermometer has averaged 50,
ranging from 40 to 68.
Memphis, Tennessee.—W e have had rain on four days of
the week, the rainfall reaching one inch and sixty-two hun
dredths. The river is one and four-tenths feet above the dan
ger line (six-tenths of a foot below high water mark) and ris
ing. The thermometer has ranged from 89 to 65, averaging 49.
Nashville, Tennessee,—We have had rain on five days of
the week, the rainfall reaching two inches and sixty-four
hundredths. Average thermometer 50, highest 67, lowest 38.
Mobile, Alabama.—It has rained severely on two days and
has been showery on five days, but as the week closes the
weather has taken a favorable turn. The rainfall reached
five inches and forty-eight hundredths.
The thermometer
has averaged 66, the highest being 80 and the lowest 54.
Montgomery, Alabama.—We have had rain on every
day of the week, the rainfall reaching six inches and thirtyfour hundredths. The thermometer has averaged 62, ranging
from 48 to 78.
Selma, Alabama.—There has been rain on five days of the
week, the rainfall reaching six inches and three hundredths.
The thermometer has ranged from 50 to 75, averaging 61.
Auburn, Alabama.—Rain has fallen on every day of the
week, but no serious damage has been done. The rainfall
reached five inches and forty-six hundredths. We are having
too much rain. Average thermometer 58'3, highest 76 and
lowest 41*5.
Birmingham, Alabama.—Telegram not received.
Madison, Florida.—W e have had showers on four days of
the week, the rainfall reaching one inch and sixty-six hun
dredths. The thermometer has averaged 68, ranging from 47
to 82.
Macon, Georgia.—There has been rain four days of the week.
Columbus, Georgia.—W e have had rain on five days during
the week, the rainfall reaching five inches and thirty-two
hundredths. Average thermometer 53, highest 61, lowest 44.
Savannah, Georgia.—It has rained on every day of the
week, the rainfall reaching one inch and seventy-seven hun
dredths. The thermometer has averaged 62, the highest being
77 and the lowest 54.
Augusta, Georgia.—It has rained on six days, but as the
week closes there has been a favorable change in the weather.
The rainfall reached one inch and twenty-eight hundredths.
The thermometer has averaged 56, ranging from 48 to 74.
Albany, Georgia.—The weather has been mostly cloudy dur
ing the week, with rain on five days. The rainfall reached
three inches and twenty-five hundredths. Average thermom
eter 68, highest 77, lowest 58.
. Charleston, South Carolina.—It has rained on six days of
the week, the rainfall reaching one inch and thirty-four hun
dredths. The thermometer has averaged 59, the highest
being 77 and the lowest 51.
Stateburg, South Carolina.—It has rained lightly on seven
days of the week, on the first and last days to an unappreciable extent, but as the week closes there has been a favorable
change in the weather. The rainfall reached sixty-six hun
dredths of an inch. The thermometer has averaged 55*4,
ranging from 46 to 70.
Wilson, North Carolina.—Telegram not received.
The following statement we have also received by telegraph,
showing the height of the rivers at the points named at 3 o’clock
Feb. 24, 1887, and Feb. 25. 1886.____________
________
Feb. 24, *87. Feb. 25, ’86.
New O r le a n s ...... ...A b o v e low -w ater mark.
A bove low-water mark.
M e m p h is ......... .
N a s h v i l le .......... ...A b o v e low -w ater mark.
S h re v e p o rt...........
V icksburg............ ..
Feet. Inch. Feet. Inch.
12
35
36
13
40
6
2
1
4
9
11
30
11
11
36
6
0
6
4
4
India Cotton Movement from all P orts.—The receipts
and shipments of cotton at Bombay have been as follows for
the week and year, bringing the figures down to Feb. 24.
BOMBAY RECEIPTS AND SHIPMENTS FOB FOUB TEAKS.
Shipments this week Shipments Since Jan. 1.
Year Great Conti Total. Great Conti Total.
Britain nent.
Brit’n. nent.
1887 9.000
1886 7.000
1885 4.000
1884 19.000
21,000
34.000
14.000
36.000
30.000 44.000 145,00C
41.000 46.000 119.000
18.000 24.000 83,000
55,000 107.000 136.000
189.000
165.000
107.000
243.000
Receipts.
This
Week. Year.
46.000
19.000
30.000
42.000
333.000
303.000
201.000
348,000
A ccording to the foregoing, Bombay appears to snow
a
¡decrease compared w ith last year in the week’s receipts o f
£Vol. XLIY.
3,000 bales, and an increase in shipments o f 11,000 bales, and
the shipments since Jan. 1 show an increase of 24,000 baler.
The movement at Calcutta, Madras and other India ports tor
the last reported week and since the 1st of January, for two
years, has been as follows. “ Other ports” cover Ceylon
Tuticorin. Kurrachee and Coconada.
Shipments for the week.
Great Conti Total.
Britain. nent.
Oalontta—
1887.........
1886.........
Madras—
3.000
8.000
16,000
Shipments since January 1.
Great
Britain. Continent. Total,
19,000
3,000
18,000
11,000
44.000
18.000
2,000
2,000
1887.........
1886.........
Ail others—
1887....... .
1886....... .
rotai a l l 1887.........
1 8 » « ___
26,000
4,000
2,000
2,005
10,000
12,500
3.000
16,000
3.000
14,0*10
18,500
30,000
28,500
19,000
3,000
4.000
6.000
30.000
10.000
60,000
38.505
Tne a oove totals for tne week snow that the movement from
the ports other than Bombay is 16,000 bales more than the same
week last year. For the whole of India, therefore, the total
shipments since January 1, 1887, and for the corresponding
periods of the two previous years, are as follows:
BXPOKT8 TO EUROPE FROM A T.I. INDIA.
1886.
1887.
1885.
Shipments
to alt Europe
from—
This
week.
Sinee
Jan. 1.
This
week.
Sinee
Jan. 1.
This
week.
Sine«
Jan. 1.
B om bay........ .
All other ports.
30.000
19.000
189,000
60,000
41,000
3,000
165,000
38,500
18,000
2,400
107,000
31,005
T o ta l..........
49,000
249,000
44.000
203,500
20.4001
138,000
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 following
are the receipts and shipments for the past week and for the
corresponding week of the previous two years.
Alexandria, Eaypt,
Feb. 23.
Receipts (cantars*)—
This w e e k ....
Since Sept. 1
1886-87.
45,000
2,727,000
1885-86.
1884-85.
50,000
2,663,000
70,000
3,098,000
This Sinee This Since This Since
week. Sept. 1. week. Sept. 1. week. Sept. 1.
E xports (bales)—
T o L i v e r p o o l ...... . . .
T o C on tin en t. . . . . . . .
9.000 216,000
2.000 113,000
T otal E u r o p e ...... 11,000 329,000
* A cantar Is 98 lbs.
5.000 192.000
2.000 115.000
8,000 261,000
7,000 123,005
7,000 307,000 15,000 384,005
This statement shows that the receipts for the week ending
Feb. 23 were 45,000 cantars, and the shipments to all Europe
11,000 bales.
J ute Butts, B agging, &c.—There is only a moderate de
mand for bagging and the market is quiet. Only small
orders are being filled, and sellers are quoting 6@ 6J^c. for
lj^lbs., 6J^@ 6%c. for l%lbs., 7@7)^c. for 21bs. and
8c.
for standard grades. Butts have been taken to some extent,
about 2,000 bales finding takers at
for paper grades
and 2@ 2^o. for bagging qualities.
Shipping News .—The exports o f cotton from the United
States the past week, as per latest mail returns, have reached
110,059 bales. So far as the Southern ports are concerned, these
are the same exports reported by telegraph, and published in
the Chronicle last Friday. With regard to New York we
include the manifests of ail vessels cleared up to Thursday.
Total bales.
Ne w Y o r k —T o Liverpool, per steamers Britannic, 2,959___
C ity of Berlin, 1,814— City or Chester, 2,2 68___Lake
Superior, 2,408___Methley Hall, 2,361___ Scythia, 1,6 03.. 13,415
T o Hull, per steamer Buffalo, 4 0 0 ...................... ........................
400
To Havre, per steamer La Champagne, 5 2 1 .............................
521
To Bremen, per steamer Trave, 726...........................................
726
T o Hamburg, per steamer Bohemia, 1,700................................ 1,700
To Amsterdam, per steamer Schiedam, 2 0 0 .................... . . . .
200
To Antwerp, per steamers Illinois, 1,268___Jan Breydel,
1 ,0 1 6 ....W aesland, 2,321.........................................................
4,605
T o Genoa, per steamers Circassia, 166___Gottardo, 694........
860
Ne w Orleans —T o Liverpool, per steamers A ctor, 3 ,2 0 0 ....
Baron Clyde, 4,471___Nasmyth, 3 ,4 9 6 ... Professor, 4,800
....R e d Sea, 5,2 56....V enezuelan, 2,640___Viola, 2,650
West Indian, 1,7 00....p e r bark Venezuela, 1,450................ 29,663
To Havre, per ship Lanarkshire, 4,700....................................... 4,700
T o Bremen, per steamers Effective, 5 ,0 0 0 ...Hampton Court,
3 ,2 3 3 ................................................................................................ 8,233
To Malaga, per hark Maresca, 1,908............................................ 1,908
To Genoa, per hark Elise, 3 ,2 2 6 ................................................... 3,226
Mo bile —To Liverpool, per steamer Wylo, 3,3 00............................. 3,300
S avannah —To Liverpool, per hark Konoma, 2,325........................ 2,325
Charleston —To Liverpool, per bark Tikoma, l,5 a 5 ..................... 1,595
Galveston —To Havre, per bark Russell, 2,210
........................ 2,210
To Bremen, per barks St. Olaf, 1,210_ Stanley, 1,975.........
_
3,185
Wilmington —To Antwerp, per bark Emma Parker, 350..............
350
No r fo l k —To Liverpool, per steamer Benbrack, 5 ,4 2 4 ....per
bark Veritas, 3,811....................................................................... 9,235
N e w po r t Ne w s — o Liverpool, per steamer Florida, 7,219......... 7,219
T
Baltim ore —To Liverpool, per steamer Thanemore, 2,547 ....... . 2,547
T o Bremen, per steamer Hermann, 1,760.................................
1,760
B oston —To Liverpool, per steamers Bavarian, 1,535....R om a n ,
2,337................................................................................................ 3,872
P h ila d e l ph ia —To Liverpool, per steamers British Prince, 898
....B r itish Princess, 1,408...............................................
2,306
I
The particulars of these shipments, arranged in our usual
form, are as follow s;
THE
26, 1887.]
Fe b r u a r y
Liverpool.
New Y o r k . 1 J , i l 3
N. O rleans. 2 9 ,6 6 3
3 ,3 0 0
M obile.........
Savannah.. 2 ,3 i5
Charleston.
1 ,5 9 5
G alveston..................
Wilmingt’ n ...........
Norfolk—
9 ,2 3 5
Newport N.
7 ,2 1 9
B altim ore.
2 ,5 4 7
B oston........
3 ,8 7 2
PUiladel’ i a .
2 ,3 0 6
T o ta l... 75,475
Cotton freights
AmsterBrew. dam
and
and
Hull. Havre. Hanib. Antic.
BaredIona
and
Maiago. Q:noa,
CHRONICLE.
BREADSTUFFS.
F
:
;
38
....
71S
....
% » 716
••••
45*
....
7S2® *4
....
»6 4
»4
» .4
:
a
o
H
•
¡
t
;
D A I L T CLOSING P R IC K S 0 7 N O . 2 B S D W IN T E R W H E A T .
B10»%
Sat.
Mott. fu e«.
Wed. T h u n . F r t
....
891«
891«
delivery.............. . . 901«
88%
88%
»3 2 ® 716 March d e liv e r y .............. .. . . 911«
7ie
9 1«
89%
April
9038
89%
....
... .
91V
»
May d e liv e r y ........... . . . . 9178
90
90%
91H
»O
Juñe d e l i v e r y ............. . . . 921«
91 Si
913*
90%
90%
3s®7ia % ® 716
92%
....
90%
July delivery................. . . . 933s
90%
....
9288
92%
91
August delivery ........... . . . 93%
91%
w
45*
45*
93%
93%
92
92
September delivery. . ..
December d e liv e r y ..... . . . 983«
9 7 i«
95%
95%
....
....
97 %
732® % 732® *4
Indian corn has shared to some extent in the fluctuations o f
....
wheat, but the range of prices has been extended by a specia 1
demand for mixed of the crop o f 1835, suitable for shipment
»6 4
»6 4
by sail, and yesterday the difference between this and No. 2
»61
»Í4
mixed of the crop of 1836 was %c. per bushel. The specula
»6 4
9x9
B32
BS2
Féb. 4.
Sales o f tbe w e e k ......... bales.
Of w bich exporters t o o k . . . .
Of w hich speculators took ..
Bales A m erican ......... ...............
Actual e x p o rt............ .
....
F orw arded ............................. .
Total stock—Estimated..........
Of which American—Eatim’d
Total im port o f the w e e k ......
Of which A m e rica n . . . . . . . . .
Amount a flo a t..... . . . . . . . . . . . .
Of which American . . . . . . . . .
96 4 ® BS2
Feb. 11.
Feb. 18.
tion has not been active, but the business for export wasincreasing, To-day there was no change of moment.
58.000
3.000
9.000
42.000
6.000
23.000
877.000
630.000
122.000
92.000
277.000
244.000
60,000
3.000
4.000
45.000
6.000
29.000
912.000
714.000
122.000
102,000
257.000
217.000
61,000
3.000
4.000
47.000
5.000
24.000
914.000
725.000
84.000
76.000
283.000
240.000
Saturday Monday.
Tuesday.
69.000
7.000
7.000
53.000
6.000
22.000
960.000
762.000
129.000
100.000
229.000
180.000
Wednes. Thursd’y. Friday.
Fully
y
mal nt’ned mned
Firm.
Harden!’g
Steady.
Firm.
51«
5%
53ie
5%
5*8
5^4
&
310
53i0
8,000
1,000
10,000
1.000
10,000
1,000
14,000
2,000
14,000
2,000
Futures.
Market, ì Steady at
12:30 p .m . ) 1-64 ad Steady.
vance.
Market, Ì
Firm.
Quiet.
5 P. M. )
5k
5 14
5 !»
5*4
10,000
1,000
Steady at Steady at Steady at Steady at
1-64 ad
1-64 de
1-64 de
1-64 ad
vance.
cline.
cline.
vance.
Barely
Barely
Quiet.
Quiet.
steady.
steady.
The opening, highest, lowest and closing prices of futures for
Liverpool for each day of the week are given below. These
prices are on the basis of Uplands, Low Middling clause, unless
otherwise stated.
B at., F e b . 1 9 .
M on., F e b . 2 1 .
T n e s., F e b . 2 2 .
Open High Low. Cioè. Open High Low. Clot. Open High Low. Clor.
d.
510
5 10
510
512
513
515
5 17
519
514
d.
510
510
510
512
513
515
517
519
514
d.
5 10
510
510
512
513
515
5 17
519
514
W edn es., F eb .2 3 .
d.
511
511
511
512
5 14
516
518
519
515
d.
511
511
511
512
514
516
518
519
515
d.
5 10
510
510
511
513
515
517
519
514
d.
510
510
510
611
513
515
517
519
514
T hura., F eb. 2 4 .
d.
5 09
509
5 09
511
512
514
516
518
513
a.
BOO
5 09
5 09
511
512
514
516
518
5Í3
d.
5 09
509
5 09
511
512
514
516
5 18
513
d.
509
5 09
5 09
511
512
514
5 16
5 18
5 IB
a.
511
511
511
512
5 14
515
517
519
514
d.
511
6 11
511
512
514
515
517
519
514
d.
510
510
510
512
514
515
5 17
518
514
d
510
510
510
512
514
5 15
517
518
5 14
d.
5 09
5 09
5 09
510
512
514
516
517
513
d.
509
509
509
510
512
514
516
517
513
d.
5 09
5 09
5 09
510
512
5 14
518
517
513
d.
5 09
5 09
5 09
510
512
514
516
517
513
d.
510
510
510
511
513
515
516
518
5 13
d.
510
510
510
5U
5 13
5 15
5 16
518
513
d.
5 10
510
510
511
513
515
516
518
513
d.
510
5 10
5 10
511
513
515
516
5 18
513
Mon.
48
48%
48%
48%
Sat.
48%
48%
48%
49%
fu e«.
%
h
0
»
Wed.
48
48%
49%
48%
F ri.
47%
48
48%
48%
Thurs.
47%
47%
48
48%
Oats have declined very materially. Holders for the specu
lative account were free sellers, while there was nothing to
stimulate the demand. To-day there was a further decline.
D A I L T CLOSIN G P R IC E S 0 7 N O . Z O A T S.
...
...
...
....
A pril delivery.
Mon.
35
35
35%
35%
Sat.
35%
35%
35%
35%
fu e«.
«
'O
a
Wed.
34%
34%
35
35%
FH.
34%
34%
34%
34%
Thurs.
34%
34%
34%
34%
Rye has been quiet, but is firmly held. Barley is very dull,
and late quotations are barely maintained. Barley malt has
been selling moderately at 70c. for two-rowed State and 95c.
or prime city.
The following are the closing quotations :
FLO U R.
Fine................... b b l. $2
S u p e r fin e ..... . . . . . . . .
Spring wheat extras.
Minn, clear and stra’ t.
Winter shipp’ g extras.
Winter X X A X X X ..
P a t e n t s ....... ........
Southern a n n e r a ......
South’n oom . e x tr a s ..
4 0 «$ 3
2 45®
8 25®
3 60®
3 30®
3 80®
4 25®
3 20»
3 50 9
W h e a tSpring,per bu sh .
Spring No. 2. new
Red winter, No. 2
R ed w in t e r .........
W hite....................
Oorn—West, m ixed
West. m ix. No. 2 .
West, w h it e ......
West, y ellow .......
White Southern..
Yellow Southern.
83 ®
90%®
89% 9
82 O
84 O
46 9
47%®
47 ®
47 ®
52 ®
48 9
Southern ba k ers’ and
00
fam ily hr d s .. 9 bbl $4 0 0 8 $4 40
3 25
3 50 R ye flour, superfine.. 2 80® 3 OO
F ine........................... 2 20® 2 30
4 50
3 60 Oorn m eal—
W estern, A c . . . . . . . . 2 4 0 9 2 75
4 30
Brandyvrine............ 2 75® 2 80
5 00
3 40 B’kw h’tflour,$l lOOlbs 1 75® 1 80
3 90 1
95
91%
91
94
93
50
49%
51
51
58
51
Rye—
State & Pa., % bush.
Oats—M ix e d ___ . . . . .
W hite........................
No. 2 m i x e d . . . . . . . .
No. 2 w h ite ............
Barley—C anada____
Two-rowed S ta te...
Six-rowed State___
Malt—State, 6-ro wed.
State, 2-rowed.........
Canada. ....... ...........
Peas—Canada..............
57 «
33% 9
36 •
34% 9
36% »
68 ®
58 ®
63 0
77 ®
68 ®
80 ®
64 ®
60
37
42
35%
37%
77
61
68
80
71
90
66
The movement of breadstuffb to market is indicated in tfce
statements below, prepared by us from the figures of the New
York Produce Exchange. W e first give the receipts at Wester n
lake and river ports, arranged so as to present the compara
tive movement for the week ending Feb. 19, 1887, and since
July 81, for each of the last three years:
Receipts at—
Chicago.......
Milwaukee...
F r i., F e b . 2 5 .
Open High Low. Clot. Open High Low. doe. Open High Low. Clot.
February...
Feb.-March
Mar.-Apr ..
Apr.-May ..
May-June..
June-July..
July-Aug ..
Aug.-Sept..
Sept.-Oct...
D A I L T CLOSIN G P R IC E S 0 7 N O . Z M I X E D C O R N .
Feb. 25.
The tone of the Liverpool market for spots and futures each
day of the week ending Feb. 25, and the daily closing prices
__________
of spot cotton, have been as follows:
February...
Feb.-March
Mar.-April..
April-May..
May-June .
June-July..
July-Aug...
Aug.-Sept..
Sept.-Oct...
P . If., February 25 ,1 8 8 7 .
%
cable from Liverpool we have the following
statement of the week’s sales, stocks,i, &c., at that port. We
add previous weeks for comparison.
d.
5 10
5 10
510
613
513
515
517
519
514
,
Total.
22,425
47,730
3,300
2,325
1,59»
5,395
350
9,235
7,219
4,307
3.872
2 306
* Per 100 lbs.
Liverpool.—By
Market, (
12:30 p .m . )
Upl’ds - Miü. Orl’ns.
Mld. Bales .
Bpee.Aexp.
r id a y
The market for flour and meal has been quiet, and yester
400
5 2 1 2 ,4 2 6 4 ,8 0 5
860
day some concessions in prices were made for the higher
4 ,7 0 0 8 ,2 3 3
1 ,9 0 s 3 ,2 2 6
grades of wheat flour, of which supplies have somewhat ac
........
cumulated. The lower grades were also rather more freely
. . . . . . ......... —
offered, but a fair export demand prevented any material
2 ,2 1 0 3,1*85 . . . . . . •••••• ........
reduction in values. Rye flour has been steadier but quiet,
3 5 0 ......... : .......
.........
and in corn meal no change can be noted. To-day the market
........ ...... .
•••••• .... , . . . . . .
wai very quiet.
. . . . . . . . . . . . ........
........ ........ 1 ,7 6 0
Prices of wheat declined steadily and rapidly under the
------ ......... ......... .........
......... .........
excessive visible supply, the favorable crop prospects and the
more peaceful aspect of European politics, until on Wednes
400 7,431 15,604 5,155 1,903 4,086 110,059 day morning prices were about 2% cents below the close on
the past week have been as follows :
Friday last. Then came reports from Chicago of very large
purchases there for export, and on this the decline was quickly
Fri.
Salur.
Mon.
Wcdncs. Thurs.
Toes.
recovered, only to be more than lost yesterday under the
influence of weaker markets abroad. To-day the opening was
1
B
33
»6 4
»64
11S4
»6 4
depressed, but the close steadier, though without activity.
....
....
....
....
•M.
|
Liverpool,steam a.
Do
sa il...d .
Havre, steam ...e .
»8
....
....
Do sail.........c
Bremen, steam...e
7ie
71S
....
....
Do
s a i l ___c.
Hamburg, steam, e.
71S
38®71S
....
....
Do
s a il......
Amst’d’m, steam e.
45*
45*
....
....
Do via Leith.d.
Beval, steam ___d. 738®510 732®%
....
....
Do sail..........d
Barcelona,steamd.
»61
»6 4
Genoa,steam___d.
»6 i
»6 4
Trieste, steam ...d .
932
19i4
Antwerp, steam.rf.
532
B3 »
Spot.
283
Cleveland...
St. Louis. ...
Peoria..........
Tot. wk. ’87.
game wk.’88.
Same wk.’85.
Since July 24
1886-7.. ..
1885-6.. ...
1884-5.......
Corn.
Barley.
Oat*.
Rye.
Wheat.
Flour.
Bbl*.1961b* Bunh.60 lb* Bush.56 lb* Hush.32 lb* Bush.48 lbs Bush.5015«
655,125
488,005
221,820
164,184
142,776
10,487
36,480
56,300
36,605
113,645
2,880
47,887
27,497
1,907
2,500
38,390
4,711
22,935
19,833
16,374
68,055
2,997
2,890
15.500
17,900
3^313
42,500
555,620
102,780
83,290
33,319
18,328
2,745
99,300
6,000
2,000
81,025
1,195
5,50
•
371,738
517,059
196,338
21,582
40,488
34,805
6,201.372 64,874,185 53,753,793 40,666,195 17,237,939
4,850,956 44,097,779 55,702,069 36,900,403 16,003,034
6,015,668 81,960,015 56,408,837 36,310,605 12,507,523
1,480,551
2,290,49
3,688,29
221.207
159,587
101,976
462,093
450,142
732,930
1,225,337
2,286,525
1,368,239
961,361
1,087,928
400,268
The receipts of flour and grain at the seaboard ports for the
we3k ended Feb, 19, 1887, follow;
THE CHRONICLE
284
B ye.
Oats, B arley,
bush.
bueh,
bush.
220,400 105,625 14,300
82,820 18,050
Flour,
bbl8.
98,761
46,748
Wheat,
bush4
.
239,800
29,983
Oom ,
bush.
275,420
146,433
Portland —»- —
2,530
M o n t r e a l.......
P hiladelphia... 25,482
77,724
Baltimore.........
R ichm ond.........
3,297
4,223
Mew O rleans...
9,000
84,384
74,807
17,248
106,250
111,022
323,987
13,626
244,237
¿,400
i,50 0
53,972 81,000
27,010
20,080
11,095
15,000
2,619
T otal w e e k ... 258,815
Cor. week ’8 6 .. 199.344
561,472,1,114,725
178,971 2,973,443
421,777 206,205
769,616 123,000
31,919
5,113
Mew Y ork . . . . .
......
The exports from the several seaboard ports for the wee*
ending Feb. 19, 1887, are shown in the annexed statement;
Exports
pram—
Bye.
Oom .
Flour.
Oats.
Bush.
151,154
105,092
Bbls.
104.262
28,390
5,471
Bush.
7,126
185.038
132,268
100,053
Tot. w ’k 1,370,379 673,605
B’me time
581,333 1,763,777
1886.
180,365
107,631
Peas.
7,143
34,970
429
Wheat.
Bush.
Mew York 1,027,175
B o sto n ...
i 12,662
Portland.
78,061
M. News.
Phlladel.
52.255
B altlm ’r«
100,226
M. O rl’ns.
R lchm ’nd
Bush8,087
Bush
2,285
35,482
18,135
13,360
8,087
55,902
2,089
14,517
2,312
6,234
The visible supply of grain, comprising the stocxs in granary
at the principal points of accumulation at lake and seaboar d
ports, and in transit by rail and water, Feb. 19, 1887 :
i n »lore at—
Mew Y o r k ......... .
D o afloat.........
A lb a n y .................
Buffalo..................
Chicago.................
M ilwaukee...........
T oled o...................
D e t r o it ................
O sw ego....... ..........
Bt. Louis..........
C incinnati...........
B o sto n .................
T o r o n t o ...... . . . .
M o n trea l.............
P hiladelphia.......
P eoria........... .
Indian apolis. . . . .
Kansas C ity.........
On M ississippi...
On canal & river.
O om ,
Oats,
Wheat,
bush.
bush.
bush.
7.717,13S 2,380,349 1,140,232
58,700
398.000
91,600
22,500
11,022
20,005
2,538,475
270,189
13,356,937 5,420,149 1,061,670
222.120 2,093,689
569
3,780,909
10,228,630
141,000
3,961.555
111,011
22,500
56,264
2.77 L678
134,000
85.000
3,572,497 4,098,759
66,000
51,000
307.561
202,278
159,821
280,438
60,708
120,795
614,819
316,419
10,870
80,950
116,230
400,571
282,508
479,699
322,268
7,650,486
' '854,000
74,475
94,000
54Ì200
26,274
11,261
450,195
144,000
432,480
17,120
91,779
112,497
940,360
309,670
18,147
402,426
Bye,
bush.
42,160
8.000
21,500
33,933
158,419
Barley,
bush.
155,396
80,000
201,850
209,828
224,783
12,136
321,393
46,966
16,800
40,404
20,000
873
4,249
22,382
15,171
481,200
45,319
27,000
61,730
213.789
51,163
13,776
987
2,760
.....
7,085
4,115
T o t Feb. 19. ’87. 59,886,568 16,569,794 4,871,405
* Minneapolis and 8t. Paul not included.
445,345 2,097,707
THE DRY GOODS TRADE
N e w Y o r k , Friday, P . M., Feb. 25, 1887.
Although interrupted to some extent by the intervention of
a legal holiday (Washington’s Birthday) there was a moder
ately good business in dry goods during the week under
review. There were not many wholesale buyers in the market,
and personal selections at first hands were consequently
restricted in volume; but there was ^ steady improvement in
the re-order demand from|jobbers in the West and Southwest,
JÇittauciat.
H i r a m D e w in g . Cl a r k
d e w in g , f . t
If a r m
. B ontbcou .
(Member o f N. Y. Stock Exoh.)
H . Dewing & Son,
BANKERS
AND B R O K E R S ,
N o . 1 8 W a l l S tree t, N e w Y o r k .
Stocks and Bonds Bought and Sold on Commission.
Particular attention given to information regard
ing Investment securities.
Iowa Loan & Trust Co. 6 per cent Debentures
bought and sold.________________________________
R . J. Kimball & C o.,
BANKERS AN D BROKERS,
17 Years’ Membership New York Stock Exchange.
Members Philadelphia Stock Exchange.
N oe . 1 6 A 18 B r o a d S treet, N e w Y o r k .
Buy and sell on commission, for Investment or on
margin, all securities dealt In attheN.Y. Stock Exch.
R o b e r t J. K im b a l l .
A l f r e d B, L ou n s - b u i .
b
W . H. Goadby & C o.,
BANKERS AND BROKERS,
N o . 24
B R O A D
S T R E E 1 .
N s w V s t R.
Walsh & Floyd,
S T O C K
B R O K E R S ,
No. 26 BROAD STREET, NEW YORK.
ja m b s
W . W a l s h , J r .,
Nicoll F l o y » , J r .
Member N. Y. Stock Exchange.
XLIV,
and a very fair distribution was made in this connection by
commission houses and importers. Retailers from all sections
of the country have appeared in this city in considerable num.
bers, and there was in consequence a decidedly more active
business in jobbing circles than at any time during the present
month, fairly liberal sales of both staple and department goods
having been made (in package and assorted lots) by the princi
pal jobbers. There was no rush or excitement on the part of
retail buyers, and not the least tendency toward speculation
has been observed, but distributers have stocked up with a
fair degree of freedom in anticipation of a good spring trade.
The jobbing houses of Phillips Bros. & Co., Baltimore, and
Church & PJhalen, Troy, N. Y ., have suspended payment, and
their joint liabilities will probably reach $500,000; but the
financial condition of the trade at large is still considered
sound by the best-posted merchants.
D omestic Cotton G oods.—The exports of domestics from
this port for the week ending Feb. 21 were 1,067 packages
including 151 to Brazil, 145 to Argentine Republic, 130 to
British East Indies, 121 to Central America, 117 to U. S. of
Colombia, 112 to Mexico, &c. Staple cotton goods were more
active in commission and jobbing circles, and all such makes
of brown bleached and colored cottons as govern the market
are firmly held at unchanged prices, because stocks are re
markably light for the time of year. Print cloths were in
fair demand but easier in price, 64x64s having declined to
3 7-16c. and 56x60s to 3c. Stocks last Saturday and for the
three previous years were as follows:
Stock o f Print Cloths—
Held b y Providence manuf’rs.
Fall R iver m anufacturers...
Providence speculators.........
Outside speculators (est).......
Feb. 19,
1887.
39,000
61,000
50,000
20,000
Total stock, (pieces)............ 170,000
Feb. 20,
1886.
95,000
61,000
256,000
30,000
Feb. 21.
1885.
492,000
452,000
320,000
350,000
Feb. 23.
1884.
136,000
220,000
258,000
75,000
442,000 1,614,000
689,000
Prints and printed cotton fabrics were more active ia de
mand, and a good steady business was done in ginghams,
seersuckers and fancy cotton dress goods. White goods,
scrims, table damasks, quilts, towels, &c., were severally in
fair demand, and firm at ruling rates.
D omestic W oolen G oods. —There was a more active under
tone in the market for men’s-wear woolens, and a very fair
amount of orders was placed (for future delivery) by the
clothing trade, though selections were not quite as liberal as
in former seasons. Fancy cassimeres and suitings were in
irregular demand with most relative activity in union and
low grade all-wool makes. Worsted coatings were less active
than expected, but fair-sized orders were placed for some of
the most popular fabrics of this class. Overcoatings ruled
quiet in demand, but agents continued to make steady de
liveries on account of b ick orders. Fancy cloakings have
commanded a fair share of attention, and a good trade was
done in Jersey cloths. Satinets an * Kentucky jeans were
quiet and steady, and the demand for flannels and blankets
was comparatively light as usual at this period. All-wool
and worsted dress goods continued to move steadily, and a
fair business in carpets was reported by the mill agents.
F oreign D ry G oods were iu moderate demand at first
hands, and a more active business in some descriptions was
reported by jobbers. Sea pie and fancy dress goods were dis
tributed in fair quantities at firm prices, but piece silks were
in indifferent demand. Men’s-wear woolens were in moder
ate request, but prices are low in some instances and in
buyers’ favor. Linen and white goods, handkerchiefs, laces
and embroideries, continued in fair request by jobbers and
retailers, and pretty good orders for wool hosiery and under
wear were placed for future delivery.
l^ to r t g a g c s ,
E Q U IT A B L E
M ortgage Company.
C A P IT A L
[V o l .
$ 6 0 0 ,0 0 0 .
D E B E N T U R E S
AND
GUARANTEED FARM MORTGAGES.
O F F IC E S «
1 REFERENCES:
New York, 208 Broadway. First Nat. Bk., New York.
Boston, 23 Court St.
Boston Nat. Bk., Boston.
Philadelphia, 112 S.4th St. 7th Nat. Bk, Philadelphia.
Kansas City, 7th& Del.Sts.lAm. Nat. Bk.,Kansas City
F o r ¿.rates ol in terest an d fu ll in form a tion
_____________ send f o r pam ph let._____________
Farm Mortgages
In Sums o f $100 and Upwards on In
diana and Ohio Lands.
NOTHING SAFER. ALWAYS PROMPTLY PAID
SEND FOR PAMPHLET.
JO S. A . M O O K E ,
8 4 E a s t M a r k e t S t., I n d i a n a p o lis , In
Im p o r ta n t N o t ic e .
CO HOLDERS OF KANSAS BEAL ESTATE
MOBTQAGES:
■end to HODGES A KNOX, TOPEKA, KANSAS,
Mr Free Pamphlet containing the compiled Lam
tf
relating to Real Estate Mortgages.
jjfarm Mortgages.
6%
7%8 %
T h e A m erican Investm ent Com pany, of Emmetsburg, Iowa, with a paid-up capita) of 8 6 0 0 ,0 0 0 , su rp lu s 8 7 5 ,0 0 0 , offers first Mortgage
Loans drawing seven per cent, both Prlncipafand
Interest fu lly (guaranteed. Also 6 per cent 10year Debenture Bonds,secured by 105 per cent of first
Mortgage loans held in trust by the M ercantile
T ru st C o., N. Y . Five per cent certificates of
deposit for periods under one year. Write for full
information and references to the company at 150
Nassau St., N. Y .
A . L . O R M SB Y,
Vice-President and General Manager.
Real Estate Mortgages on City
and Farm Property, worth two
to four times amounts of mort
gages, In terest 6 p er cent to
7 p er cent, principal and inter
est absolutely guaranteed. Se
curities, for guaranty held by the
American Loan & Trust Com
MINNEAPOLIS. pany, of Boston, Mass.
Send for circulars to
Paid-Up Capital,
N E H E R & C A R PE N TE R «
8 2 0 0 ,0 0 0 .
B a n k ers, T ro y , N. Y .
Authoriz’d Capital
Eastern Managers for Company
$ 2 ,0 0 0 ,0 0 0 .
NORTHWESTERN
GUARANTY
LOAN CO.,
INVEST T H R O U G H T H E SOUND
R E L IA B L E
AND
WESTERN FARM MORTGAGE CO.,
LAW RENCE, KAN.
F. M. P e r k i n s , Pres’t.
L. H. P e r k in s , Sec.
P aid Up C ap ita l,
- $ 2 5 0 ,0 0 0
The choicest hirst Mortgage Farm Loans, also the
Company’s Ten Tear Debentures, based upon Its
paid up capital and assets of over $050,000. No losses.
Eleven years’ experience, with absolute satisfaction
to over 1,500 investors. Send for circulars, forms and
full information, Branch offices in N. Y. City and
Albany. New York Office 137 Broadway.
C. C. HINE & SON. Agents.
Fe b r u a r y
THE CHRONICLE.
JBatxitst ^anltcvs and %voiitx$ ©ut of ^txo ‘Horlu
26, 1887.J
BAN K S.
0 *0. 8TUBOK8 . Pres’t.
P E S S S ÏL V A M A .
North-Western Nat'l Bank,
C H IC A G O , IL L IN O IS .
C a p i t a l, $ 2 0 0 ,0 0 0 .
S u r p lu s , $ 5 0 ,0 0 0 .
Tbls Bank holds in addition >1,000,000 U . 8 .4 per
■ent Bonds at par, pledged by its stockholders for
(he protection o f its customers. Said bonds are
pledged as abore, instead o f being held by the Bank
as a part of its legal surplus, to avoid what we think
unjust and excessive local taxation.
W ESTERN.
E. W . Clark & C o.,
Chas. H. Potter & Co.,
BANKERS AND BROKERS,
N o . 3 5 S o u th T h ir d S t., P h ila d e lp h ia
Railroad, Municipal and other desirable invest
ment Securities for sale.
Transact a general banking business. Allow inter
est on deposits.
Members o f the Philadelphia and New York Stock
Exchanges, and connected by private wire with New
York.
F. W . G o o k in , Asst. Cash.
*
INVESTMENT BANKERS,
C L E V E L A N D ,
O H I O .
Narr & Ger lach,
SHERMAN 8 .J e w e t t , Pres. J o s i a h J e w e t t , V.Pres.
W i l l i a m C. Co r n w e l l , Cashier.
B A N K E R S AND B R O K E R S
No. 437 CHESTNUT STREET,
C A P IT A I., - - - - - - $ 3 0 0 ,0 0 0
P H IL A D E L P H IA .
Members of the Philadelphia and New York Stock
BUFFALO, H . Y.
T
Exchanges.
This bank has superior facilities for making collec
tions on all accessible points in the United States, Cable Transfers, Bills of Exchange and Letters of
Credit.
Canada and Europe. Liberal terms extended to ac*
Bank o f Buffalo,
counts of bankers and merchants.
Co r r e sp o n d e n t s .—New York, National Shoe &
I eather Bank ; Union Bank of London.
j. 8. A l e x a n d e r , Pres. A. A. A l e x a n d e r , Cash’r.
Rea Bros. & C o.,
Texas National Bank,
AND DEALERS IN FOREIGN EXCHANGE.
SAN A N T O N IO , T E X A S .
COLLECTIONS AND INVESTMENTS MADE.
Correspondence invited.
BANKERS AND BROKERS,
425 W o o d Street, P ittsburg, P a
MEMBERS
New York and Philadelphia 8tock Exchanges.
w. T. B l a c k w e l l , Pres’t.
P. A . W i l e y , Cashier. Pittsburg Petroleum, Stock and Metal Exchange
Private wires to New York, Boston, Philadelphia
Baltimore and Washington.
D U R H A M , N . C .,
The Bank o f Durham,
Pay Special Attention to Collections.
FIRST-CLASS FACILITIES.
NewYork Correspondents.—The National Park Bank
______ and 8eventh Ward National Bank._______
H. Ga r d e s ,
President.
B .P . H il l ,
R .A . G i r a d d ,
Vice-Pres’t.
Cashier.
Commercial National Bank,
HOUSTON, T E X A S.
PITTSBURG,
PA.
ESTABLISHED 1871.
Whitney & Stephenson,
BANKERS AND BROKERS,
No. 57 F O U R T H A V E N U E .
Oldest Pittsburg members N. Y. 8tock Exchange
Capital.............................................
8 2 0 0 ,0 0 0
Collections receive our special attention and are
promptly remitted for.
1. G. Fletcher, J STATE BANK, )C. T. Walker,
President. \ Incorporated 1875. f
Cashier.
B A L T IM O R E .
German National Bank, Wilson, Colston & C o.,
L IT T L E R O C K , A R K A N SA S.
Capital (P a id In ) - - - - - $ 2 0 0 ,0 0 0
Prompt attention given to all business In our line.
N. Y. Co r r e s p o n d e n t s .—Importers’ & Traders
National Bank and National Bank of the Republic.
H E. B u r r u s s . Pres’t. A. K. W a l k e r , Cashier
.
First National Bank,
W I L M I N G T O N , N . C.
Collections made on all parts o f the United States,
MERCHANTS’ NATIONAL
BANK,
BANKERS AND BROKERS,
(Members o f Baltimore Stock Exchange),
B A L T IM O R E .
(INVESTMENT and SOUTHERN SECURITIES a
specialty.)
Correspondence solicited and information fur
nished.
N. Y. Correspondents—
McKim Brothers & Co.
Robert Garrett & Sons,
BANKERS,
N o.
7
SOUTH
STREET,
R IC H M O N D , V IR G IN IA .
B A L T IM O R E ,
Collections made on all Southern points on best
terms; prompt returns.
TRANSACT A GENERAL DOMESTIC AND
,
„ „
JOHN P. BRANCH, President.
John F. G l e n n , Cash. F r e d . R. Sco tt , Vice-Pres’t
FOREIGN BANKING BUSINESS.
SOUTHERN.
ATLANTA.
Humphreys Castleman,
BROKER AND DEALER IN ALL KINDS OF
SECURITIES.
Bonds and Stocks bought or sold on commission;
diwrgia and Alabama Securities specially dealt in.
^^respondents; Tobey & Kirk and A. Dutenhofer.
References: Atlanta National Bank, Atlanta. Ga..
end Fourth National Bank, New York.
T H O M A S B R A N C H & CO.,
bankers
and
c o m m is s io n
m erch an ts,
R IC H M O N D , V IR G IN IA .
Circulars and information on funding the debt» of
Virginia and North Carolina free o f cost; one-eighth
P cent charged for funding. Southern RaDi-o^
er
»ad State and City Bonds bought and sold.
C. W . Branch & C o.,
BANKERS AND BROKERS,
St a t e B a n k B u i l d i n g ,
R IC H M O N D , VA.
Private wires connecting with Washington, Haiti.
Bore, Philadelphia and New York
.
York correspondents. Prince & Whitely.
A. L. Hartridge,
SAVANNAH ,
G A .,
SECURITY
BROKER.
w §ondd seUs 0n commisslon aU classes o f Stocks
idU
Negotiates loans on marketable securities.
Quotations furnished by private ticker
every fifteen minutes
s p e c ia l t ie s
:
TOWN. COUNTY AND CITY BONDS,
LAKE SUPERIOR IRON MINING STOCKS,
AND STREET RAILROAD SECURITIES
ESTABLISHED 1871.
P. F. Keleher & Co.,
306 OLIVE STREET, ST. LOUIS,
D e a le rsA n W e s t e r n S ec u rities.
Defaulted Bonds of Missouri, Kansas and Illinois
a specialty. Good Investment Securities, paying
from four to eight per cent, for sale.
N. W . Harris &
Co.,
C H IC A G O and B O STO N .
Dn M n Q o i Counties, Cities, &c., of high »rade a
p u i v u o specialty. Send fo r D escrip tiv e L i s t s .
Jftotttcial l&ixuUB.
F ID E L IT Y
&
C A S U A L T Y CO.
Nos. 314 A 810 BROADWAY, NEW YORK.
Cash Capital, $350,000, invested in U. 8. Gov’t Bondi.
$300,000 deposited with the N. Y. Ins. Dep’t, for
the protection of Policy-holders.
Assets, January 1st, 1887, $578,105.
Officials of Banks, Railroads and Express Compa
nies, Managers,Secretaries, and Clerks of Public Com
panies, Institutions and Commercial firms, can obtain
BONDS OF S U R E T Y S H IP
from this Company at moderate charges.
The bonds of this Company are accepted by the
oourta of the various States
CASU ALTY D E P A R T M E N T .
Policies Issued against accidents causing death 0 1
totally disabling Injuries.
Full information as to details, rates, Ac., can be
obtained at head office, or of Company’s Agents.
Wm. M . R ic h a r d s , Prest. J o h n m . Cr a k e , seo’y.
R o b ’t J. H i l l a s , Ass’t Secretary.
DIRECTORS;
G. G. Williams, David Dows,
W. G. Low,
J.S.T. Stranahan, A. S. Barnes,
Charles Dennis,
A. B. Hull,
H. A. llurlbut, Alex. Mltohell.
J. L. Biker,
J. D. Vermilve, S. B. Chittenden.
Geo. S. Coe.
Wm. M. Richards,
Bonds of Suretyship.
NO
OTHER BUSINESS.
The Guarantee C o .
OF NORTH A M E R I C A ,
Cash Capital................. .................. ............. $300,000
Assets and Resonroes .. .............................. 830,000
Deposit with Insurance Department............ 840,000
President:
Vice-President:
Si r a l e x . T . Ga l t ,
H o n . j a s . Fe r r i e s .
Managing Director: E d w a r d R a w l i n g s .
NEW YORK OFFICE:
NO. I l l B R O A D W A Y .
D. J . TOMPKINS, Secretary.
N e w Y o r k D ir e c t o r s —Joseph w. Drexel, A . L .
Hopkins, H. Ylotor Newoomp, John Paton, Daniel
Torrance. Edw. F. Winslow, Brastns Wiman. F. P.
Oicott and J. E. Pulsford.
M EW ENGLAND.
Jfcpoejcial
Brewster, Cobb
& Estabrook, The Investors’ Agency,
RANKERS,
No.
35
C O N G R E SS
2 3 4 L a S alle S t., C h ic a g o , 111.,
STREET,
BO STON .
MEMBERS OF THE NEW Y O R K AND
BOSTON STOCK EXCHANGES.
ALSO,
D ealers In M u n ic ip a l, S ta te, R a ilr o a d
a n d U n it e d S tates B o n d s .
Jo s h u a W il b o u r ,
Ch a r l e s H . Sh e l d o n , Jr
Be n j a m i n a . Ja c k s o n , W i l l i a m B i n n e y , J r .
Wilbour, Jackson & C o.,
BANKERS AND BROKERS,
No. 52 W E Y B O S S E T S T R E E T ,
P R O V ID E N C E , R . I.
Dealers in Commercial Paper, Government and
other first-class Bonds and Securities and Foreign
Exchange.
Private Telegraph Wire to New York and Boston.
Joseph G. Martin,
STO CK B R O K R ,
AND BALER IN INVESTMENT SECURITIES
N o . 1 0 State S tree t, B o s t o n .
K. L.
SCUDDER, Jr., Proprietor,)
ANSWERS INQUIRIES CONCERNING
A m e rican Stocks a n d Securities
Large Library of Railroad Documents.
Competent Experts.
Confidential Reports,
Moderate Charges.
E.
S. B a i l e y ,
5Jg P I N E S T R E E T .
DEALINGS
IN S U R A N C E
in
STO CKS
A S P E C IA L T Y .
Cash paid at once for the above securities; or they
will be sold on commission at seller’s option.
Staten Island Securities
A S P E C IA L T Y .
Gas, Railroad & Amusement Co. Stocks
GEO. B . R IP L E Y ,
6 6 B roadw ay, R o o m 8.
THE
t i ll
%xns\ (&VLUlz$.
CHRONICLE.
Jgvttst ©umpatiies.
fVOU X U V
% U B U V % U tZ .
Union Trust Company United States Trust Co.
OF N E W YORK,
OF X E W TORE.
No. 4 9 W A L L S T R E E T ,
78 Broadway, cor. R ector St., N. T.
C a p ita l a n d S n r p lna* - - - $ 6 ,0 0 0 ,0 0 0
C A P IT A L .- - - - - - -
J 1,000,000
’, ............................... $ 2 ,0 0 0 ,0 0 0
Authorized to act as Executor, Administrator
Guardian, Receiver, or Trustee, and is
A LEGAL DEPOSITOR V FOR MONET.
Accepts the transfer agency and registry of stocks,
and acts as Trustee of mortgages of corporations.
Allows Interest on deposits, which may be made at
any time, and withdrawn on five days’ notice,'with
Interest for the whole time they remain with the
company.
For the convenience of depositors this company
also opens current accounts subject, in accordance
with its rules, to check at sight, and allows interest
upon the resulting daily balances. Such checks pass
through the Clearing House.
TRUSTEES:
Wm. Whltewrlght,
James M. McLean,
Henry A. Kent,
AmbroseC. Kingsland,
R. T. Wilson,
James H. Ogllvie,
Wm. F. Russell,
S. T. Fairchild.
C. D. Wood,
I. H. Frothlngham,
James N. Platt,
George A. Jarvis,
D.
C. Hays,
C. Vanderbilt,
James Forsyth,
A. A. Low,
George Cabot ward,
G. G. Williams,
Edward King,
R. G. Remsen,
H. B. Wesley,
J. B. Johnston,
D. H. McAlpin,
Edward Schell,
Georee B. Carhart,
Amasa j . Parker,
Henry Stokes,
Samuel F. Barger,
Robert Lenox Kennedy, Geo. C. Magoun.
EXECUTIVE COMMITTEE:
Wm. Whltewrlght,
G. G. Williams,
James M. McLean,.
E. B. Wesley,
J.B. Johnston,1
C. D. Wood,
D. C. Hays,
A. C. Kingsland.
EDWARD KING, President,
JAMES M, MoLKAN, First Vlce-Pres’t,
J AMES H. OGILVIE, Second Vice-PresH.
A . O. RONALDSON. Secretary.
s u r p l u s
Mercantile Trust & Deposit
COMPANT, OF
B A L T IM O R E .
Capital,
•, A u th o rize d C ap ita i.
8 5 0 0 ,0 0 0
8 2 ,0 0 0 ,0 0 0
Authorized to act as Exerut ir, Administrator
Guardian, Receiver, or Trustee, nnU is
A LEGAL DEPOSITORY FOR MONEY.
Accepts the transfer agency and registry o f stooks
and acts as Trustee of mortgages or corporations.
Takes charge of property, collects and remits in
terest and Income promptly, and discharges faith
fully the duties of every trust known to the law.
Money received on deposit. All Trust Assets kept
separate from those o f the Company.
Burglar-proof Safes and Boxes (having chrome
steel doors) to rent at $10 to $100 per annum in their
new and elegant chrome steel FIRE AND BURG*
LAR-PROOF VAULTS, protected by improved
Time Locks.
Wills kept in vaults without charge. Bonds and
Stocks, Plate and all Valuables securely kept under
guarantee at moderate charges. Paintings, Statu
ary. Bronzes, etc., kept in fire-proof vaults.
JOHN GILL, W. W. SPENCE, L. C. FISCHER
President.
Vlce-Pres’t.
Treas. & Sec.
DIRECTORS:
Louis McLane,
W. W. Spence,
OhristianDevries Robert Lehr,
C.Mort’n Stewart W. A. Tucker,
Robert Garrett, Jas. Carey Coale,
Chas. D. Fisher, Oliver A. Parker,
Geo. P. Thomas, W. H.Whitridge,
O. H. Williams, J. A.Hambleton,
Thus. Deford.
Andrew Reid,
-
John E. Hurst,
Stewart Brown,
W. H. Blackford,
E. A. Jenkins,
Bernard Cahn,
J.W lllcox Brown,
Alex. Frank,
John Gill.
The Union Trust C o.,
This company is a legal depository for moneys paid
Into court; and is authorized to act as guardian oi
P H IL A D E L P H IA .
All trust assets kept separate from those o f the
Company.
Burglar-Proof Safes to rent at $5 to $60 per annum.
Wills kept in vaults without charge.
Bonds, Stooks and other valuables taken under
guarantee.
_
Paintings, Statuary, Bronzes, etc., kept in FireProof Vaults.
Money received on deposit at interest.
J AS. LONG, Pres’t. J OHN G. READING, V.-Pres’t.
MAHLON S. STOK MS, Treasurer & Secretary.
D. R. PATTERSON. Trust Officer.
D ir e c t o r s .—James Long, Alfred S. Glllett, Joseph
Wright, Dr. Charles P. Turner, William S. Price,
JohnT.Monroe, W. J. Nead, Thomas R. Patton,John
J G Reading, Wm. H. Lucas, D. Hayes Agnew, M.D.
Jos. I. Keefe, Robert Patterson, Theodor C. Engel,
Jacob Nayler, Thos. G. Hood, Edward L. Perkins,
William Watson, P h i l a d e l p h i a ; Samuel Riddle,
Gl e n r i d d l e . Pa.: Dr. George W. Reily, H a r r i s
b u r g , Pa. J. Simpson Africa, H u n t in g d o n ; Henry
8. Eckert, R e a d i n g ; Edmund S. Doty, M if f i .i n t o w n ; W. W. H. Davis, D o y l r s t o w n ; R. E. Mon
aghan, W e st Ch e s t e r .
Metropolitan Trust C o.,
Mills Building, 35 Wall St., New York
P A I D U P C A P I T A L , $1,000*000.
Designated as a legal Depository by order o f Su
preme Court. Receive deposits jt money on interest,
act as fiscal or transfer agent, or trustee for corporations, and accept and execute any legal trusts from
persons or corporations on as favorable terms as
Other similar companies.
THOMASHILLHOU8E, Pret.
FREDERIC D. TAPPEN.Vice- Aident
WALTER J. BRITT1N, Secretary.
A T L A N T I C
trU*lNTEREST ALLOWED ON £ S F 9 8IT8,
which may be made at any time, and withdrawn a lt«
five days’ notice, and will be entitled to interest foi
the whole time they may remain with the company
Executors, administrators, or trustees of estates
and females unaccustomed to the transactioni of busi
ness, as well as religious and benevolent institutions
will find this company a convenient depository to;
money.
JOHN A. STEW ART, President.
3
W IL L IA M H .M A C Y , Vice-President
*
JAMES 8. CLARK, Second V ice-Pres’
Mutual Insurance Co.,
TRUSTERS:
Dan. H. Arnold, D. Willis James,]Robt.B. Mintum,
Thos. Slocomb, John J. Astor,
Geo. H. Warren,
Charles E. Bill, John A. Stewart, George Bliss,
Wilson G. Hunt, S.M.Bncki’gham, William Llbbey,
Wm. H. Macy, H. E. Lawrence, John C. Brown,
Clinton Gilbert, Isaac N. Phelps, Edward Cooper,
Daniel D. Lord, Erastus Corning, W.Bay’rdCutting
Samuel Sloan,
S. V-Chittenden, Chas. S. Smith,
James Low,
JohnH.Rhoades, Wm.Rockefeller,
Wm. W. Phelps, Anson P. Stokes, Alex. E. Orr.
HENRY L. THORNELL, Secretary.
The Trustees, In conform ity to the Charter o;
the Company, submit the follow ing Statement
o f Its affairs on the 31st December, 1886:
Premiums on Marine Risks from
1st January, 1886, to 31st
Deoember, 1 8 8 6 . . . . . . . . . . . . . . . $3,809,250 53
Premiums on Policies not marked
off 1st January, 1886................ 1,426,049 46
T.OTTTS G. H A M P T O N . Assistant Snoret.arv.
NEW Y O R K , January 24,1887.
American Loan < Trust Co,
&
Total Marine Premiums....... $5,235,269 99
113 B R O A D W AY, NEW Y O R K .
Capital, Fully Paid....................... 8 1 ,0 0 0 ,0 0 0
Premiums marked oft from 1st
January, 1886, to 31st Decem
ber, 1886..................................... $3,817,699 86
THIS COMPANY TRANSACTS A GENERAL
LOAN, TRUST AND 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,
t W An Authorized Depository for Court and
County Treasurers’ Fund.
ROWLAND N. HAZARD, President.
GEORGE S. HART. Vice-President.
WILLIAM D. SNOW, Secretary.
JAMES 8. THUR8TON, Treasurer.
DIRECTORS:
G eorge H . P o t ts ,
W a l l a c e C. A n d r e w s ,
J o h n L. M a c a u l a y ,
Ih a d a v e n p o r t ,
Ja m e s M. V a r n u m ,
W i l l i a m D. Sn o w ,
J o h n I. B l a i r ,
J o h n D. K i m m e y ,
E d w a r d F. B r o w n i n g , F r e d e r ic A . P o t ts ,
R o w l a n d N. H a z a r d , J o h n R o s s ,
G e o r o e S. h a r t ,
A l e x a n d e r G. B l a c k ,
W m . B. D in s m o r e ,
F r a n k C. H o l l in s ,
E l i a s L e w i s ,.J r .,
T h o m a s L. W a t s o n ,
J u l e s A l d ig e ,
E l i a s C. B e n e d ic t ,
St e v e n s o n B u r k e ,
W il l ia m P. A n d e r so n .
The Brooklyn Trust Co.,
Cor. of Montague and Clinton Sts.,Brooklyn, N.T.
This company is authorized by special charter to
act as receiver, trustee, guardian, executor or admin
istrator.
. „
It can act as agent in the sale or management of
real estate, collect interest or dividends, receive re
gistry and transfer hooka, or make purchase and sale
of Government and other securities.
Religious and charitable institutions, and persons
unaccustomed to the transaction of business, will
And this Company a safe and convenient depository
for money, RIPLEY ROPES, President.
EDMUND W. CORLIES, Yice-Pres’t.
TRUSTEES:
Josiah O. Low, E. F, Knowlton, H*y K. Sheldon,
Alex. M. White, John T. Martin, C. D. Wood,
A. A. Low,
Fred. Cromwell, Wm.H.Male, .
Alex. McCue,
John P. Rolfe,
Ripley Ropes,
Mich’l Chauncey, E. W. Corlies.
Abram B. Baylis,
Wm. B, Kendall, H. E. Pierrepont, H. W, Maxwell,
Ja m e s Ross Cu r r a n , Secretary.
_______ F r e d e r ic k 0 . Colto n , Asst. Sec’y.
611 AND 613 CHESTNUT STREET,
Authorized Capital...................................... $1,000,000
Paid-up Capital........................................... 500,000
Aots as Executor, Administrator, Assignee, etc.
and executes trusts o f every description known to
OFFICE OF THE
^ u s u m n x e .
Returns o f Premiums and Exp e n s e s ............... . . . . . . . . . . .
$841,878 15
The Company has the follow ing Assets, viz.:
United States and State o f New
York Stock, City, Bank and
other S t o o k s . . . . . . . . . . . . . . . . . . . . $9,382,375 00
Loans scoured b y Stooks and
o t h e r w is e ......... . . . . . . . . . . . . .
707,100 00
Real Estate and Claims due the
Company, estimated at............
501,647 31
Premium Notes and Bills R e
c e iv a b le ........ ..............
1,568,134 20
Cash in B a n k . . . . . . . . . . . . . . . . . . . . .
285,254 68
A m ou n t... . . . . . . . . . . . . . . .....$ 1 2 ,4 4 4 ,5 1 1 69
S IX PE R CENT INTEREST on the outstand
ing certificates o f profits w ill be paid to the
holders thereof, or their legal representatives,
on and after Tuesday, the 1st o f February next
THE OUTSTANDING CERTIFICATES of
the Issue of .1882 w ill be redeem ed and paid to
the holders thereof, or their legal representa
tives, on and after Tuesday, the 1st of February
next, from which date all interest thereon wil
cease. The certificates to he produced at the
time of payment and oanoeled.
A DIVIDEND OF FO R TY P E R CENT la
declared on the net earned premiums of the
Company, for the year ending 31st Deoember,
1886, for which certificates will he Issued on
and after Tuesday, the 3d of M ay next.
B y order o f the Board,
jr. H . C H A P M A N , Secretary*
The United States Life
Insurance Co.
IN T H E C I T Y O F N E W
Losses paid during the same
p e r i o d . . . . . . . . . . . . . . . . . . . . . . . . . . $2,206,588 68
YORK.
(ORGANIZED IN 1850.)
261, 262 & 263 Broadway, New York
G. H. BURFORD, President,
0. P. F r a l e ig h , sec’y. A . W h e e l w r ig h t , A s s t Seo
W m. T. Standbn , Actuary.
All the profits belong to the Policy-holders exclu
sively.
All Policies issued by this Company are in d is p u t
a b l e after three years.
All Death Claims paid w it h o u t disc ou n t as soon
as satisfactory proofs have been received.
This Company Issues all forms of Insurance, Ineluding Tontine and Limited (Non-Forfeiting) Ton
tine.
One month’s grace allowed In the payment of
Premtnms on Tontine Policies, aifd ten days’ grace
on all others, the Insurance remaining in full force
during the grace.
Absolute security, combined with the largest liber
ality, assures the popularity and success of this com
pany.
GOOD AGENTS desiring to represent the Com
pany, are Invited to address J. 8. GAFFNEY, Super
intendent of Agendas, at Home Office.
TR U STE E S:
J. D. Jones,
W. H. H. Moore,
A. A. Raven,
J tunes Low,
Wm. Sturgis,
Benjamin H. Field,
Josiah O. Low,
Edmund W. Corlies,
Robert B. Mintum,
William Degroot,
Horace Gray,
William E. Dodge,
William H. Macy,
C. A. Hand,
John D. Hewlett,
William H. Webb,
Charles P . Burdett,
Henry E. Hawley,
A dolph Lemoyne,
William D. Morgan,
Charles H. Marshall,
Frederick H. Cossitt,
William Bryce,
John Elliott,
James G. D e Forest,
Charles D. Leverloh,
John L. Hiker,
N. Denton Smith,
George Bliss,
Isaac Bell,
Edward Floyd-Jones,
Anson W. Hard,
Thomas Maitland,
John Edgar Johnson,
Ira Bursley,
James A. Hewlett,
George H. Macy.
JOHN D. JONES, President.
W. H. H. MOORE, Vice-President.
A . A. RAVEN, 2d Vioe-Pres’t.
Ff b r u a b y
fH E
26, 1887.J
CHRONICLE
Insurance.
¿pWsjcxIIaurnus.
EQUITABLE
Crenshaw & Wisner,
ix
UFE
ASSU R A N C E
S O C IE T Y ,
120 BROADW AY, NEW YORK.
H E N R Y B . H Y D E , P re s id e n t.
$66,553,387 SO
52,691,148 37
ASSETS, JANUARY 1st, 1886.
LIABILITIES, 4 per cent Vali
SURPLUS......................................................$13,862,289 13
(S u rp lu s o n N . Y . S ta n d a rd 4 1 p e r c en t
«
'
in terest, $ 1 7 ,4 0 5 .3 2 9 ,4 0 .)
S u rp lu s over Liabilities, on every standard of valua
tion larger than that of any other Life Assurance Compony.
• w A ssu r a n c e in 1885....................... $96,011,378 00
O U T S T A N D IN G ASSURANCE.................. 357,338,248 00
Total paid Policy-Holders in 1885 ......... 7,138,689 60
Paid Policy-Holders since Organization 88.211,175 36
INCOME in 1885............................................ 16,590,053 31
T H E
Provident Life &Trust Co
OF
P H IL A D E L P H IA .
Incorporated Third Mo.. 22d, 1865.
(CHARTER PERPETUAL.)
C A P IT A L ..................................... $ 1 ,0 0 0 ,0 0 0
7 1 W A L L S T ., N E W Y O R K ,
C O M M ISSIO N
M ER CH ANTS,
Members o f the Cotton, Coffee and Produce Bxoh’r.
agen cy or
THE
HAXALL
CRENSHAW
CO.,
R IC H M O N D , V A .
Standard Brands of Flour for Shipment to Warns
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 Arsen lo.
Brinckerhoff, Turner
& C o.,
Manufacturers and Dealers in
C O T T O N SA ILD U C K
And all kinds of
ASSETS $ 1 5 ,6 2 1 ,5 3 0 63.
INSURES LIVES, GRANTS ANNUITIES, RECBIVES MONEY ON DEPOSIT, returnable on de
mand, or on which Interest Is allowed, and is empow
ered bylaw to act as EXECUTOR. ADMINISTRA
TOR, TRUSTEE. GUARDIAN, ASSIGNEE, COM
MITTEE, RECEIVER, AGENT, etc., for the faith
ful performance of which its capital and surplus
fund furnish ample security.
All trust funds and Investments are kept separate
end apart from the assets o f the company.
The income of parties residing abroad carefully
collected and duly remitted.
SAM’L R. SHIPLEY, President.
T. WI8TAR BROWN, Vice-President.
A8A 8. WING. Vice-President and Actuary.
© jc r tlim .
Hubbard, Price & C o.,
Cotton E x ch a n g e , N e w Y o r k ,'
^
AND
Price, Reid & C o.,
NORFOLK. VA.
Cotton Brokers & Commission Merchants
Liberal advances made on Cotton consignments.
Speolal attention given to the sale of ootton to ar
rive or In transit for both foreign and domestic mar
kets. Orders for Future Contracts executed in New
York and Liverpool.
Edward H. Coates & C o .,
Cotton Commission Merchants,
NO. 110 CHESTNUT STREET,
P H IL A D E L P H IA .
NO. 49 MAIN STREET,
N O R FO LK , VA.
SPINNERS' ORDERS SOLICITED.
R . Macready & C o.,
COMMISSION MERCHANTS,
COTTON CANVAS, FELTING DUCK, CAB
COVERING, BAGGING, RAVENS DUCK, BAIL
TWINES, *0., “ ONTARIO” SEAMLESS
BAGS, “ AWNING STRIPES.
Also, Agents
U N IT E R S T A T E S B U N T IN G OO.
A full supply, all Widths and Colors, always In stock
__________N o . 1 0 9 D u a n e S treet.
BAGGING.
W A R R E N , JO N E S A
O R ATM ,
OO TTO N
Cotton, Coffee, Grain and Petroleum Bought and
sold for Cash, or carried on Margin, on the various
¡exchanges in New York City.
J. C. Graham & C o.,
19 S o u th W i l l i a m S t. A 51 S ton e S t .,
NEW YORK.
M a n u fa ctu re rs o l P u re J u te B a g g in g .
importers o r
O N L Y
IRO N
CO TT O N
TIES.
Direct Line to France. Bliss, F a b y a n & C o.,
GENERAL TRANSATLANTIC CO.
New York, Boston, Philadelphia,
Between N E W Y O R K a n d H A V R E .
From Pier (new) 42, North River, foot o f Morton St,
LA BOURGOGNE, Franguel.. .Sat., Feb. 26, 7 A. M.
LA BRETAGNE, de Jous.elin.Sat., March 5,1 P. M
LA GASCOGNE, Santelli......Sat., March 12, 7 A. M.
Travelers by this line avoid both transit by English
railway and the discomforts o f crossing the Channel
Ina small boat.
Prick ok P a ssagk (including wine):—To H avreFirst cabin, $100 and $80; second cabin, $60: steer*
»*e, $22—Including wine, bedding and utensils. Re
turn tickets at much reduced rates. Checks onBanqne
Transatlantique, Havre and Paris.in amounts to suit
SELLING AGENTS FOR LEADING BRANDS
B R O W N A B L E A C H E D S H IR T IN G S
A N D S H E E T IN G S ,
PRINTS, DENIMS, TICKS, DUCKS, *0.
T o w e ls ,Q u ilt s , W h i t e G o o d s & H o s ie r y
Drills, Sheetings, etc, for Export Trade,
Special T r a in (Torn H a v r e to P a r le .
The Compagnie Generale Transatlantique delivers
it its office In New York special train tickets from
Havre to Paris. Baggage checked through to Parla
without examination at Havre, provided passengers
have the same delivered at the Company’s dock In
N York, Pier 42 North River, foot of Morton St.,
ew
st least two hoars before the departure of a steamer,
L O U IS D E B E B I A N , A g e n t,
N o . 3 B o w l i n s G reen
ESTABLISHED 1856.
Eu ge ne Re Cole,
S T A T IO N E R AN D P R IN T E R .
Supplies Banks, Bankers, Stock Brokers and Corpo
rations with complete outfits of Account Books and
Stationery
I V New concerns organising will have their order*
promptly executed.
N o. 1 W I L L I A M
B U IL D IN G ,
NEW YORK.
S T . L O U IS , M o .
¿ tâ te
EXCHANGE
STREET,
__________ (HANOVER SQUARE.)_______
SECURE BANK VAULTS.
COTTON.
BUYERS FOR AMERICAN MILLSL
S elm a , M o n tg o m e r y a n d N e w Y o r k »
John ,l . Bullard .
h e n r y h . whkklbr .
Bullard & Wheeler,
COTTON COMMISSION MERCHANTS
NEW YORK.
ALSO
B A G G I N G A N D IR O N T I B S ,
(FOR BALING COTTON).
Advances made on Cotton Consignments and Special
Attention given to purchase and sale of FUTURE
CONTRACTS OF COTTON.
B. F. B A B C O C K & CO.
COMMISSION MERCHANTS,
1 7 W a t e r S treet, L I V E R P O O L ,
Reoeive consignments of Cotton and other Prodnoe,
and execute orders at the Exchanges in Liverpool.
Represented In New York at the omoe of
SAM’L D. BABCOCK,
82 Nassau Street, New York.
Alexander & Cargill,
J J M n iu # .
COTTON BROKERS,
A V G U S T A , G E O R G IA .
COLORADO CENTRAL
Consolidated Mining
Co.,
48 E X C H A N G E P L A C E .
Paul L ic h t e n st e in ,
D
h
President,
*• V. Ma r t in s e n ,
w
. r . Ba ltze r ,
Vice-President,
WELDED CHROME STEEL AND IRON
In Round and Flat Bars, and 5 ply Plates and Angles
F O R SAFES, VAULTS, &o.
Cannot be Sawed, Cut or Drilled, and practically
Burglar-Proof.
CHROM E
STEEL
W ORKS,
Secretary.
Dennis Perkins & Co.,
JOSEPH Cl LLOTTS
COTTON BROKERS,
1 2 5 P e a r l Street, N e w Y o r k .
Orders for Spot Cotton and Futures promptly
executed.
STEEL PENS
SOLD MEDAL PARIS E X P O S m O M -1 8 7 8 ,
_
U
n c tio n
ffa lje s .
STOCKS and BONDS
A t Auction.
B|® Undersigned hold R E G U LAR AUCTION
SALES, o f all classes o f
STOCKS
AMD
BONDS,
ON
WEDNESDAYS AND SATURDAYS.
AD RIAN H . M U L L E R & SON,
No. 12 PIN E STREET, NEW YORK.
(EQUITABLE BUILDING.)¿_ “
Co rre spondenc e So licite d .
R efe ren ces .—
National Bank of Augusta, Ga
Henry Hents A Co., Commission Merchants, New
York; William B. Dana A Co., Proprietors CoafMEBc ia l A F in a n c ia l Ch r o n ic le , and other New Yo> X
Houses.
ClronlarB Free._______ B R O O K L Y N , N . Y .
. B. Ma n t iu s ,
Treasurer.
G. W . H a l l , Sup’t.
Entire attention given to purchase of COTTON
TO ORDER for SPINNERS and EXPORTERS.
THE M ST PER
O
FECT O PENS
F
©xrtlxru.
C H A R L E S B. T A I N T E R ,
COTTON MERCHANT,
COTTON EXC H AN G E ! B U IL D IN G .
SPECIAL ATTENTION TO COTTON FUTURES
W alter
COTTON
&
F atman,
BROKERS,
58 B E A V E R S T R E E T , N E W Y O R K .
F. Hoffmann,
COTTON BROKER AND AGENT,
38 R U B
DR LA B O U R 8E , H A V R E ,
FELLOWES, JOHNSON & TILESTON,
C O T T O N , S T O C K S , B O N D S , A c .,
25 WILLIAM STREET, NEW YORK.
Orders In “ Futures” executed at NfY. Cotton Exeb,
JOH N
H
C L IS B Y
A
CO .,
BUYERS,
'*M #W T « ■ A E R Y ,
P U BCBAS'
lo i L Y
ALA.
N O BD EBS F O B A COMMISSION
THE CHRONICLE.
f X
i
täottou.
p w s jc je n a t t je a t t s .
Walter T. Hatch.
Nath’l W. T. Hatch.
Woodward & Stillman,
Post B uilding, 16 & 18 Exchange Place,
H enry P. Hatch.
A rthur M. Hatch.
W . T . Hatch & Sons,
MERCHANTS,
NEW
26.1887.
[F e b r u a r y
INM AN,SW ANN&Co
BANKERS,
Id NASSAU STREET, NEW YORK.
YORK.
B r a n c h Offices { £ j| § C h a ^ H ^ r S e w
COTTON
LOANS MADE ON ACCEPTABLE SECURITIES.
Special A ttention to Orders tor Contracts
jo r F uture Delivery o r Cotton .
M ERCH AN TS,
N ew Y o r k .
COTTON, ALL GRADES, SUITABLE TO WANTS
Personal attention given at the EXCHANGES to
the purchase, and sale of STOCKS and BONDS lor
cash or on margin. ____
DEPOSITS RECEIVED—
subject to check at sight
—with interest upon balances.
Special attention paid to INVESTMENTS and
accounts of COUNTRY BANKERS.
OF SPINNERS
O pee red
on
T erm s
to
Bethlehem Iron Comp’y
Su it .
Williams, Black & C o., Mohr, Hanemannôc Co.,
BANKERS AND COMMISSION MERCHANTS,
1
W I L L I ARE S T R E E T ,
COTTON
EXCHANGE
NEW YORK.
C O TTO N , G R A IN ,
P R O V IS IO N S , C O F F E E ,
STOCKS, P E T R O L E U M ,
ORDERS EXECUTED
N e w YorK,
B U IL D IN G ,
Gwathmey & Bloss,
New York.
Spec ial A ttention G ive n to th e E xecution
OF ORDERS FOB FUTURE CONTRACTS.
IN
NEW YORK, CHICAGO, NEW OR
LEANS, ST. LOUIS, LIVERPOOL,
HAVRE, Ac.
40 and 42 W all Street,
M a n h a t ta n B u ild in g :,
COMMISSION
MERCHANTS,
No. 123 PE A R L 8T., NEW YORK
Orders for future delivery of Cotton executed in
Cotton Commission Merchants,
st e r n & Co.,
New Orleans, La.
Le h m a n ,
Montgomery, Ala.
F actors
AND
C O M M IS S IO N M E R C H A N T S ,
No. 40 EXCHANGE! PLACE,';
MEMBERS OF THE OOTTON, COFFEE AND
PRODVOE EXCHANGES.
U p -to w n
o ffic e , N o. 204 c h u r c h St r e e t ,
N ew Y o r k .
Orders executed at the Cotton Exchanges In New
Fork and Liverpool, and advances made on Cotton
and other produce consigned to us, or to our corres
pondents in Liverpool: Messrs. L. Rosenheim A
Sons and A. Stern & Co.; in London, Messrs. B.
Newgass & Co.
Henry Hentz & C o.,
COMMISSION
Geo. H .M cF adden& Bro.
L e h m a n , Du rr A Co.,
L E H M A N B R O ’S,
C otton
Robert Tannahill & C o .,
New York and Liverpool; also for Grain and Pro
MERCHANTS,
C o tto n E xcliangrelH ulldiiiit, N ew Y o r k .
C O T T O N
C O F F E E
at the NEW YORK COFFEE EXCHANGE, and
G R A IN
A N D P R O V IS IO N S
at the NEW YORK PRODUCE EXCHANGE and
the CHICAGO BOARD OF TRADE.
Special attention given to the purchase and sale of
FUTURE CONTRACTS
la New York and Liverpool.
M ERCH ANTS,
L iv e r p o o l Co r r e sp o n d e n t s ,
UBKOKHKI H R K B *
Rountree & C o .,
COMMISSION MERCHANTS.
OOTTON E X C H A N G E , N EW Y O R K , and
No r f o l k . v a .
COTTO N, G R A IN , P R O V IS IO N S ,
S tock s and P etroleu m .
Orders executed in New York, Chicago and Liv
erpool. All grades of cotton suitable to spinners*
wants offered on favorable terms.
G.
Schroeder &
C o .,
Successors to W ARB A SCHROEDER,
COMMISSION
MERCHANTS,
Cotton Exchange Building,
NEW YORK.
Orders for future delivery of Cotton executed in
Hew York and Liverpool ; also for Grain and Pro
visions in New York and Chicago.
Geo. Copeland & Co.,
COTTON BROKERS,
Co r r e sp o n d e n t s :
Messrs. Smith, Edwards & Co., Cotton Brokers
Liverpool.
Jas. Lea McLean. New Orleans.
COTTON
P H IL A D E L P H IA .
18 S o u th W i l l i a m S t., N e w Y o r k .
EXECUTE ORDERS FOR FUTURE DELIVERY
at the NEW YORK, LIVERPOOL AND NEW OR
LEANS COTTON EXCHANGES. Also orders for
visions iz New York and Chicago.
134 P E A R L
STREET, NEW YORK.
The Safe Deposit Co. of New York.
CIO.
^tisuraticje.
M A R I N E A N D I N L A N D IN S U R A N C E
COMMERCIAL MUTUAL
IN S U R A N C E C O M P A N Y ,
42 W ALL STREET, NEW YORK.
A SSETS!
United States Securities..........................$177,330 00
Bank Stocks of New York City Banks.... 111,635 00
City and other Stocks and Bonds, Loans
and Cash in Banks................................. 339,103 43
Premium Notes, Cash Premiums, Re-in
surance and other Claims...................... 65,220 75
Total Assets January 1,1887 ............$693,489 1
8
W. IRVING COMES, President.
H e n r y D. K in g , Sec. W a in w r ig h t H a r d ie .V.P.
f i r This Company issues Certificates of Insurance,
losses payable in LONDON, at its Bankers, Messrs.
BROWN, SHIPLEY & CO.______;
Phenix
OF
Insurance Co.
BROOKLYN,
Office, 195 Broadway, New York Cltj.
Statement o f Company 1st D ay o f Jan., 1887.
CASH C A P IT A L ................................. $1,000,000 0
0
Reserve for unearned premiums......... 8 ,466,8eo vi
Reserve tor unpaid losses.....................
S60,1"J »
Net surplus..................................
557,086 <
#
Cash assets...................'...................I$5,383,171 08
S T E P H E N C R O W E L L ,I P r e s ld e n t.
WM. R. CROWELL, Vice-President.
PHILANDER SHAW, Secretary.
GEO. H. FISKE, Assistant Secretary.
_______ FRANCIS P. BURKE. Bec’y Local Pep’
jE
THE FIRST ESTABLISHED IN THE W ORLD.
A
TN A
Insurance Company
O F F E R S U N E Q U A U L E P S E C U R IT Y .
OF
R E N T S SAFES IN IT S B U R G E A R -P R O O F V A U E T S .
RECEIVES SILVERWARE ON DEPOSIT.
HARTFORD.
Capital.........................................
Liabilities for unpaid losses
and re-insuranoe f u n d .......
Net S u r p l u s . . . . . . . . . . . . . . . . . . . .
$4,000,000 00
2,118,618 19
3,450,221 37
A s s e t s J a n . 1 , 1 8 8 7 . . . . $ 9 ,5 6 8 ,8 3 9 56
THE
OFFICES
EVERT
HAVE
BEEN
NEWLY
IMPROVEMENT
AND
FURNISHED
WITH
SECURITY.
140, 142 and 146 Broadway.
F R A N C IS M . J E N C K S ,
re s id e n t.
G E O R G E IL V O S E ,
S ecreta ry,
Mo. 68 W a l l Street, N ew YorK.
J Ah, A . A L K X A N P B K . * «««»■
_
Commercial U nion
A s s u r a n c e C o ., l i m i t e d ,
OF LONDON.
Office, Cor. PineiKt
iliiam,L
Streete, Men W *
@FedFRASER