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mm
AND
HUNT'S MERCHANTS' MAGAZINE,
REPRESENTING THE INDUSTRIAL AND COMMERCIAL INTERESTS OP THE UNITED STATES
VOL.
SATURDAY, FEBRUARY
50.
CLEARING HOUSE RETURNS.
I
The foUowing statement shows the bank clearings for the
week ending to-day (Feb. 8), made up according to explanations contained in Chronicle of Oct. 26.
NO.
1890.
8.
Week Eniing February
IE 90.
Wtfk
Clearings.
Returns by TeUi^rapK
1890.
New
York
Boston
-Ifll
S«4ll.673,891
4 4-6
102,478,311
+13'1
«1.C07, 11,5.838
$952,150,203
178,042,285
19.1B3.654
10,750,603
Seven cities, 5 days
Other cities, 5 days
B days.,
AU cities, Iday
Total
188,512,200
all cities for
week...
[Percent.
»889,102.574
118,013,264
'>6,200.000
$l,195,628ioa8
The exhibit of clearings
for
month
January
January.
1890.
(Grain
+ L'3-7
+9-3
Boston
4^4,760,985
Providence...
,
Haven....
SprinKfleld
Worcester
Portland
Lowell
New Bedford..
»!5J67.80<
ti,»!a.i34
e,S51,i>36
8.000,784
5,071.*15
5,390.984
3.07.:.4'
5
1,957,758
Total N.Eng..
J29,4»5,96S
Philadelphia....
!;325.451,193
eH.48».ak2
71,747,m3
Washirgton
Wilmington
B.3 14,382
».(* 13,87(1
Syracuse
s.oai .IBS
Total Middle..
Chicago
Milwaukee
Detroit
Cleveland
2i,.')41.613
12,9»t,*-00
Indianapolis
10,411,441
6,088,183
3,314,t68
Grand Rapids...
Total M. West.
San Francisco
Los Angeles
Tacoma
Total Paoiac,
Kansas
City....
Minneapolis
St. Paul.
Omaha
Denver.
Duluth
Joseph
Wichita
Sioux City
Oes MoiDts.
Lincoln
St.
...
Topeka
Total other West.
St.
Louts
New Orleans,,
Louisville
Memphis
Richmond
Galveston
Dallas
Fort Worth...
Norfolk
Hrovtdence....
4,7S7.7in.
1,678,831
Haven...,
11,026,i,nfl4
6,814 ,460
+7-8!
-e-si
+2-7
+7-4
HpriOKfleld
Worcester
New
Total
England.
.
Washington
Wilmington, Del.,
Syracuse
Buffalo*
5.H88.i.c97 +5-8;
+0-9:
6,024, 281
4,708,,77:1 +14-5|
-8-4
.3.3BZ,,410
!•!
1,979,,884
—
491,823,048
+7-7
+4-3
312,038,8(11
63,41'<.4a^ +-2»-2
58.258,140 +2.f2
4,747,111 t33-y
3.S08.S43 +h'7
8,703,15' -18-4
23,518.500!
8fl4.lS5.4SS
20..13l,50O
8,801,.'S29i
B.164,020
5,811,154!
4.810.7701
4,514,712!
4,670.»«2i
«,816.S12
6,8411,205
421,753,672
415,013,519
270,.331.i9ll
51.922.266
62.138.874
S.S83-872
4,871.249
4,080.0»i
4.345.237
2,388,783
259.407.935
42,318,978
61,220,896
Cincinnati
Milwaukee
Detroit
Cleveland
Columbus
Indianapolis
PeorU
,
Grand Rapids....
Total Middle Western
San Frandsco..
Los Angeles ...
Tacoma
Portland*
ToUl
2,462,347
4J 5,674 ,69;
99
883,572,873
365,405,166
St.
+18-5
231,310,056
47,956,200
17,781,313
212,347.774
Denver
Dulnth
476,eei,8t8
^
+138
•t-ll'O
-1-f
+36-0
18,358,.3«8
-(-18-5
8,07(1.824
H,0(l«,154
fMi
—
»-k:
+60
13.184,3H3
8.884,688
48.2811.360
17.9:19.824
]5,:i24.824
2,808,440
13.522,855
8.670,093
6.882,045
4,487,888
2,206.682
Pacific
,
Kansas City...,
369,680,926
327,e98,38a
Paul
Dmuha
St.
,
Joseph....
Wichita.
Siour City
;.
Des .Moinea....
Lincoln
Topeka
,
Total Other Western.
407,938,188 +18'8|
Louis
New Orleans
St.
60,453,458
3,332,432
2,826,866
69,546,821 -13-1
3,M3I,1>17 -18-0
88.373,433
67,234,075
Louisville
(1,885,296
1,888,004 +47-1
Memphis....
Richmond
68,711,756
75,388,482
88,P82,8eO
38,298,3 IS
-a-
+ 1-0
70,068,728
57,234,076
30.613,172
13,473,178
15,140.031
28.488,055
13.2.58.833
i:!.547,06O
Port Worth
Norfolk
Nashville*
12,7:16,360
10.423,171
7,B85,198
Birmingham*..
Lexington*
-.•.04s,71(i
18,869.80.'. +li!-8
16.177,683
10-a
16,218,444 +23-6
1.855,848 —10-2
1,210,225
141,787,847
130,515,546;+l0-9
99,697,703!
86,203,990
94,715.140
71,184.601
38.081.870
15.957,£81
10,821,334
8,05^,444
6,766,514
4.708,170
8,851,266
84.199..804! +12-6
73.489.445
68.288.468!
27,077,702
71.4)1,520
15,Sn(l.Ha7
+21-2
8.885,104
I3'5
6,226,184 +16-8
2,084,183 +6-6
2,188.487 +95-H
2,351,2471+18-8
8,60S,no7
6,7('b,078l
e,215.8,S0'
3,277,77;
6.3'7,850
e,312,s25
1,824,874
81,2(13;.812 r2l-f>
14.li06,,8801+11
10.800,,0(J0!
7,0.'>1.,4)-4
+2-1
+14-3
8.483 ,0481+65-1
2,581,,342;+81-7
4,064,,4l2l
—2-8
11.0a6.e81,
7,488,01.0
B.41.3.S0OI
Outside
2,250,000
1,18«,H48
4,219,805
•
Not
(+19-9)
I.1C..3.200)
+I82-»)
89,551,206
4,^8«,000
1,818,247
1.016,680
1,057,653
188,433,04s
4,044,336,688
4,369,7(18,2
1 ,949,430,426 1.756,153 ,6831+111
1.523.166.961
1,417,082, 148
186,527,017
T
The returns of exchanges
for the week ending February 1
record a gain of over sixty million dollars compared with the
previous week, and contrasted with the same week in 1889
1,087,874
+ io-«
+24-8
702,709
355,716
-8-4
+«-C
107,211,094
'-^
1,28:^,882
l,14t<,569
+ 23-2
84m,026
(91,113
888,117
i'106,782,12»
100.668,299
69,199,2W7
13,704,728
15,024,824
l,3i2,80S
783,297
681,011
5,014,436
72.281,078
100.648,765
99,314,486
+18
109,272,969
+18-3
e2.i04,000
12,149.200
6,481,847
4,488,787
4,332,038
2,562,500
2,683,107
1,S87,S44
697,804
55,889,363
10,188,000
+11-9
+19-3
+9-0
+9-9
+43-5
+12-8
+40-2
—II*'
+17-4
+28-1
+10-8
+14-7
+48-4
+26-8
+41-7
62.665,792
12,355,900
5,620,442
4,740,968
4.956,880
2,688,100
2,093,863
1,340,268
672,318
95,996,828
84.279,989
+13-9
97,048,818
13.883.461
18,827,801
—12-8
476,582
518,088
6>-5.900
—SO-
350,000
+47-3
14,874,141
16,563,401
—12-0
11,457,347
8,089,669
3,836,161
3,764,108
4,»36,626
8,895.691
2,183.818
1,339,661
844,316
778,681
5v,.105
800,000
421,884
8,058,931
2.648.644
8,020,306
3,528.032
3,177.214
2,176,061
l.:3S,259
+01
67»,88o
411,441
416,421
400,000
280,578
+248
+ 80 6
8,578,878
3.808,813
3.855,736
4,055,714
4,778,283
1.816,735
1,330,849
7j7,547
739,014
+ 31-1
688.36s
+50-0
+45-2
645.181
306.678
30,728,860
25,935,808
~+isli
31,283,585
+13-8
19,810.153
14,643,820
9,037.867
3,360,606
1,739,051
1,928,588
930,285
1,498,866
.702,132
2,032,222
1,404,282
887,048
16,103,448
11.548.194
7,503.485
2.823.691
8,193.1U<
1,494.133
721.487
483.828
862,257
+2S-0
+25-9
+18-1
+41-2
+86-2
+29+28-8
+209-2
-11-8
21,456,626
17,642,033
8,409,8W8
3,532,233
1,811,487
1,848.182
1.122,021
1.628,687
934.788
2,062,988
961,387
478,bS8
S3 ,897,780
ll,o:<1.580
+24-2
13.654.185
908,9m0
765.868
-»101
+48-3
677,689
-18-8
5,03.-,98S
4.a84.hl8
3,018.141
2.272,108
1,847.808
1,571,596
872,670
78,078,556
16,067,900
14.140,110
1,828,318
901,142
762,963
6,228,627
+23
+08
+179
r8ro
+Ul
+38-1
+16-6
+20-4
4-14-6
-«r8
+1TT
+18H
-24-4
—29-7
+71-4
+33-5
-r24-6
+ 31-4
+25-8
+04
+18-2
+204
14-6
+
—20-7
58,386,011
+14-0
l,104,«08,18tl
New York
402,327,783'
370,595,592
.+8.0i
414,656,5741
-22-4
+1-0
+8-8
+1(6-3
+28-0
+43-8
—15-4
+9-4
—4-6
+6T9
T48-1
+42-2
-32-6
+T9
-10-5
+38-1
+37-4
+ 201-5
-0-5
+88-3
+7'9
+12-1
Inclndert in totals.
Our compilation of sales, &c., of stocks, bonds,
m,onth of January is as follows:
Par Value
or Quantity
Actual
\Aoer'tie\
!
Total
tib6"~
»691,770.436
Pet'l'm.bbls
21,148.00(
. .
Cotton, bis.
Grain, basil.
Total valne
3.616.40(
101.014,21:£
2-,i8.-.i38
137-9
»353.628,043| 69-8
122,211.530 $1-15
«188.404.724 t03'H6
t6-2.1l83,9.'>6
t627J8-a6.25-il
Por Valu'
Price., or (iuantUV
Value.
Sh's
8,35:j.019
1 Val.
t548.418,800 f, 815,979,2021 578
RR. bonds.. tl3,843.7«0, | 35.435.8081 SO'S
«in«
i.ii 185-2
lon.o
Gov't bonds;
$32l.45<i
$106,103
State bonds
1 .020,8(K'
r5T8,582i 66-5
Bankstocks!
<Stc,,
for the
January, 1889.
January, 1890.
Description.}
1
Ontslda N.
-8-0
+3-8
+14-8
+7-7
+1S-4
+i7-a
1,014,247
Stock
+8-8
+ 20-2
+8
+8-8
+11-0
+22-3
6,880.(191
218,888,814 +1&'3
252,913,822
8,22.3,838.888 4,824,857,667
93.419.236
5,^80,8«0
2,017,670
1,338,228
f6-«
-Ti
43,838,612
I
Total aU
(-02-6)
,166,053,588 t,021.8'.8,388
\
3,668,408
.-2.3-3)
(6,536,000)
856,318
448,292
I
Total Sontbem.
+8-5
12 7.457,025)
all
4.").5H5,519
i^. 102.273
10.Mo7,.'S78
6.4H1.000
,
..
Total Southern...
Total
1,600.0001+600
86,86'>»l'+i5-6
Galveston
Dallas
17.842,188
20.048.806
19,286,218
8,358,181
7,IBe,i02
8,182,532
4,295,407
2.748,571
2,400,000
1,765,756
(1..338.5311
1,186,900
708,079
Seattle*
2,8.')7,524
2,t 27,943
(1,310,533) (4S9-o;
1348,100) (+148-41
(24,841.682) 1+27-91
(10.220,0001 (—392)
1,069,257
1,046.427
Portland
Lowell
New Bedford..
Philadelphia
Pittsburg
Bultimore
2,»52,888,0«0
3«5,90S,513
P.Omt.
1890.
689,881,612
1.108,88r<
l,174.0:i4
Chicago
+6-7] 2,521, i79,7.'!5
23.
+17-2
651,220,766
94,869,682
Minneapolis....
178,834,138
Columbus
Peoria
1(81,764 ,S(lOi
(6,210,000)
bbls.)
Total Middle..
430.705, 477
23.387,,500
319,049,000
57.0a«,600
24,7tH,tw;
21,477,037
Cincinnati
bushels.)
Ilnrtfnrd
+r>-i
January.
j
Pittsburg
Baltimore
(1,821,337)
(870,800)
bales.]
Boston
+ 18-8 New
I
New
shares.)
,
IPstrolewny.
1889.
3,274,898,410 1,069.703,1,884
Hartford
—
Saies of
latockt
+ S-7
f
NswYork
P. Cent
1889.
782,925,785
47-1
as follows
is
New York
(Cotton
$1,130,192,487
of
Week Bnd'o Jan.
I.
8.
$624,083,190
77,922,114
56,436,791
10,901,476
51,300,000
16,401,396
12,578,9Z4
Chicago
8t. Louis
New Orleans
all cities,
February
1889.
«844,057,147
83,421. 1«1
Bl.425,277
13,484,732
Pblladelphia
Baltimore
Total
BmUnj
1,285.
here is an increase in the aggregate of 14 per cent, the excess outside of New York being 8-6 per cent.
62 1-3C.
Actual
Avtr'tt
Value.
Priee.
4,872.10,S
80-3
|429.7c0,65o [285,112.394
»60..S25.52)
$45,603,308 90-4
1848
$863,848
1785,700
$542,613 66-3
{818,700
|aS8,491 i«»-a
$187,780
$481,888,386 (832.36»,76e 69-0
$49,898,9701881.100
57,840,000
2,017,10(> $101,889,568 $49-80
$90,378,301 85>io.
106,037,840
I
$574,068,581!
THE CHRONICLE.
184
[Vol, I.
=*»=
ninety days to four months 44@B per cent and
for five and six months 5 per cent ; oh good mixed
haa
market
collateral the rates are ^@1 per cent higher according
little iacreasD of activity in the loan
noticeFor commercial paper
was
to the quality of the mixture.
change
been apparent the past week. This
smaller
in
fair,
but
not as good a& Utst
but
continues
the
demand
market,
of
the
abto not only in the tone
is
for
THE FmANCIAJ. SITUATION.
A
Quotations are 4f@5 per cent for siity to
money and in some slight degree in the week.
The influences operating have been various. ninety day endorsed bills receivable, 5@6J for four
for sitfgle.
No dbubt the result was in part due to special payments moiitfas acceptances, and 5i@6i per
offeiingi of
rateft^alao,
and' settlements occurring at and near the opening of the
to absorp-
new month. In part also it must be attributed
names having from four
The only affair
to six
months
to run.
affecting financial interestts in
London
week has been the revival of the reports of the
flow of revenue having recently been free, while the issue by the Bank of England of one pound silver
outflow has been restricted to the ordinary disburse- notes. The London correspondent of the New York
ments because of the temporary suspension of the pur- Times claims to have information "from four independFurthermore, the in- ent sources " to the effect that the purpose of the Govchases of 4 per cent bonds.
erior currency movement has this week netted a some- ernment is to issue four millions sterling of one pound
what smaller gain to this city, even the volume of the silver notes, based, not on bullion, but on " minted
tions of currency by the
Government Treasury, the
in-
return flow from the remoter sections being lessened,
while slightly larger calls from Eastern and Middle near-
this
coin."
ment
It will
be impossible for us to credit this state-
until the proposal has been
announced by Mr.
Goschen. And even then we should not think such an
That Great Britain should "shy" at
Besides these influences, there has been a constant tur- event was assured.
moil kept up respecting certain matters connected with an honest effort at bimetallism and yet adopt and issue
the banks which closed their doors last week, causing a one pound note false on its face, will require not only
those affairs to be quite engrossing and a little disturb- legislation but even an actual sight of the note before the
by points have had
to be met.
ing in financial circles. Attempts to involve other determination can be fully credited. Money in London
banks and bank managers in disreputable practices have lias tended downward this week. There was a drop,
at times confused the people, making it appear that not only for short money, but also for discounts, the
criminal acts were being covered up and evidence of the former being quoted Thursday at 5^ against 7 per cent
same destroyed in efforts to rehabilitate the crippled last week, and discounts of sixty to ninety day bank
institutions.
As the week closes the dust which has bills at 4f per cent. But yesterday the cable reported
been raised has blown away, leaving the results secured money higher again, the close being 6^ per cent for
The Bank of England reports a
(1) a complete reorganization and rejuvenation of the short advances.
Sixth National Bank, made possible by President gain this week of £362,000 bullion, which, according
Leland's conspicuously honorable action in restoring to a private cable to us, was made up by £117,000,
both capital and surplus as they stood before the sale of chiefly "bought," a portion, however, being imported
his stock; (2) the opening of the doors of the Equitable from Brazil, and £245,000 received from the interior of
Bank under, it is claimed, more promising auspices than Great Britain.
before the failure, the result of the efforts of Mr. Jor.
Our foreign exchange market opened firm for short
dan. President of the Western N ational Bank, in se- sterling and cables on Monday and has since been dull,
curing new capital and enlisting new interests in with an easier tendency. Yesterday the Bank of Monthe enterprise, and (3)^a reorganization of the Lenox treal and the Bank of British North America reduced
Hill
through the same instrumentality, it being their rates to 4 84 and 4 88, the same rates as posted by
expected that the doors of the Lenox Hill will again
be opened for business to-day. All who have aided in
attaining these ends deserve approval.
It
is
a credit-
Brown Brothers all the week.
One thing appears evident from the statements of
bank clearings for the month of January which we give
able achievement to recover a bank which has been at
this week,
the point of death and keep
ings for the same
The
institution
may
out of receivers' hands.
be small with few sufferers, but
it
the meeting of the Lenox Hill depositors on Thursday
night was hardly needed to remind any one that their
interests were as dear to
Mr. Jordan
others.
cess,
them
as larger interests are to
to be congratulated
on his suc-
not only in that matter but in the part he has
taken in
little
is
all
these reorganizations.
he could mix a
modo with his/or-
If
larger proportion of suaviter in
iiter in re when he next comes in contact with reporters,
they would treat him more generously.
The range for call loans at the Stock Exchange has
been
per cent, the average being 4 per cent, at
^@6
which
figure renewals have been made.
trust companies the
minimum
for call
At banks and
money has like-
from the returns of railroad earnmonth, namely, that the volume of
trade still continues on a large and increasing scale.
This has been the record for so long a time that under
constant reiteration statements to that effect become
Yet in any review of the trade
almost monotonous.
conditions prevailing, the great industrial growth
manifest on every side is the all-important fact in the
Our total of bank clearings indicates a gain
situation.
January,
1889, of 399 million dollars, or S'3 per
over
This would not perhaps be so very remarkable
cent.
in itself, except that it follows a gain of no less than
780 .million dollars, or over 19 per cent, in the same
month of the year precedi ng. In other words, the total
of 5,324 millions for January, 1890, compares with only
4,044 millions for January, 1888, being an increase of
and
also
wise been 4 per cent. The advance in the average at 1,180 million dollars or nearly 30 per cent,
It may be
the Stock Exchange has been due to a larger demand, claimed that the mild weather prevailing has been a
borrowers not being willing to pay the higher rates for prominent influence in this special improvement
The
time money and hoping by delay to get the rates they open winter certainly does offer some advantages. But
want. Time loans are in fair demand, but the supply of on the other hand it must be remembered that
money and also the number of those offering money have certain drawbacks follow from the same circumstance.
diminished. Loans on Governments at six months are Thus the demand for goods adapted to winter wear
now quoted at 4 per cent ; on prime collateral the rate is diminished, the consumption of coal falls off.
k
Febeuabt
and
THE CHRONICLE.
8, 1880.J
the same time ordinary traffic is in some cases
with by the soft condition of the country
at
185
against $51,494 in 1888
;
the
Wabash has net
the Denver
of $311,-
&
Bio Grande $284,It is also a fact that the tone in the iron and 304, against $226,377 ; the Central of Georgia $297,948,
roads.
steel trades during the late month was somewhat less against $258,379 ; the Philadelphia & Erie $98,905,
However, both production and against $433 ; the Louisville New Orleans & Texas
confident than before.
consumption are of very large'proportionSj and within $234,561, against $114,555 ; the Toledo & Ohio Central
nterfered
the last few days the feeling in those trades has grown
The largo clearings therefore
decidedly firm again.
and
reflect the general industrial activity existing,
if
it
741, against $255,915
;
$46,982, against $26,893 ; and the Toledo Columboa &
Cincinnati $13,637, against $9,595. All these are in
addition to the heavy gains reported last week by snch
were not that producers and manufacturers in almost roads as the Pennsylvania, the Burlington & Quincy,.
all lines have to work on such a small margin of profit, the Canadian Pacific, the Northern Pacific, the Big
there would be little reason for finding fault with the Four, the Cincinnati New Orleans & Texas Paprospect.
The following is our usual table, showing cific,
There
are
instances
&c.
some
where
the comparative figures of clearings for recent months.
MONTHLT CLGARINOS.
Oltarinf
Cleartrw, Ibtal AU.
OuMdt
Ifew York,
Month.
the Milwaukee
P.m.
1839.
1,452,417.486!
+ 8«
1,538,130,984
1,459,837,295
+6-3
18,181,321,8841 11,838,676,581 +11-2
4,811,326,930
4,402,336,930
•t9-3
adjustment of their accounts for those periods, settling
6,044,543.070+10-0
1.934,945,596
1,850,191,706
4,874,979,B94j+l4'8
1,810,635,107
up in full matters previously adjusted only in part.
Hence where the changes are due to that circumstance
4,2e6,ia4,c!;7
4,238,021,203
4,139,230,077
t
I
1,725,911,973
1,400,052.149 +15-7
4,686.824,3921
+6'6
1.827,901,621
+4-8
1,688,770,675 +9-7
1,710,102,769 +6-9
quart'r l&,568,2»3,618 14,108,347,066
t-IO-4
5,£82,:i8j,324
6,219,086,140
9,652,706,920
5,023,720,629
Gotober....
November.
December.- 4,991,828,067
lh90.
6.2a3,s33.aS8
It
1889.
4.824357,9671 +8'S
1,94»,43S,42«
outside
+70
1889.
1.76a,168,6W3'+ll-l
11-90,
interesting to note that
of
New York
than for the whole country,
being 11 per cent, after over 15 per cent in January,
1889.
As far as Stock Exchange speculation affects the
New York clearings, the changes have been comparaThis will appear from the following.
tively slight.
ALBS or STOCKS AT THB NBW TUKK STOCK CXOHAN OK.
the ratio of gain
is
larger
1888.
1880.
Mimth.
VaXvM.
Wumlwr
of Sharta.
Par.
5,628.483
623.591,675
Sept....
6,062,774
5,642,132
483,417.175
526,192,526
3dqr. 18,3S3,3»0 1,538,201,378
Oct
7,577,919
718,«».1,250
Not....
Dec....
8,880,118
5,423,61«
660,171,850
4:3,>40i,ii;5
4th qr. 19,981,651 1,837,7-26,025
Jan....
6,353,019
1800.
54«,4l6,fc00
The number
Par.
*
..
Aug..
of Sharea.
Actual.
*
»
305,231,592
205,883,536
332,811,179
4,678.621
408.455,78.'
4,739.537
418,013,20(
7,32-i,91b
665,57(1,101
242,900,879
267,716,515
433,S46,650
933,703,307 16,740,966 1,490,045,026
944,662,844
426,56-,7r6
349.915,079
237.021.417
6,743,193
822,677.000
372,261,402
5,339,58a
173,t>08,060
6,379,76.5
657,450,750
204,101,928
375.246.453
18^9.
429,78U,65(
1
315,979,202
4.8:2,101.1
and many low-priced
is
specialties; the increase
only about 30 million dol-
which on the basis of 2^ checks to each transaction
would represent increased clearings of only 75 million
lars,
York
is
the total increase in clearings at
New
205 millions.
In railroad gross earnings the exhibit for January,
1890, promises to be an unusually favorable one.
On
account of the short time that has elapsed since the
month, we cannot present our regular statesummary which we
have prepared, covering 83 roads (all that have thus far
reported), shows an aggregate of $23,506,374 this year,
close of the
ment
they havQ
We had
less significance
than they otherwise would.
occasion a few weeks since to refer to th»
gains by the roads in
New England
as
an indication of
—
the industrial growth in that section of the country
section not subject
to
the extreme fluctuations that
frequently occur elsewhere,
and thus investing with
greater importance the changes that do take place.
We
have now received other returns, still further confirming the prevailing tendency.
Thus on the
Fitchburg gross earnings for December have risen from
$473,518 in 1888 to $494,974 in 1889, and on the New
same period
For the three
months ending December 31, the Fitchburg shows an
increase of $108,961 gross and $115,709 net, and the
New York & New England an increase of $87,097 gross
and $78,956 net.
Speculation on the Stock Exchange continues dull,
and the market is rather irregular, though the tone on
increase in the
has been from $429,870 to $473,266,
Eock Island has been dethrough the week, though with some recovery during the last few days.
Nothing definite was
known or has transpired to account for this weakness,
and hence all the granger properties were more or less
affected through a vague fear of possible unfavorable
developments concerning them all. Since the announcement, however, of an increase in the rate of dividend
on the Burlington & Quincy from 4 per cent to 5per cent per annum, this group has developed greater
firmness.
Among the specialties, the Eastern Illii^is
stocks and Tennessee Coal & Iron shares experienced
sharp breaks once or twice. In the latter part of the
week, the movements in Reading have overshadowed
everything else, the stock having advanced to 43^ yesterday, and closing at 42^.
There have been rumors both
of buying for control and of an attempt to compel a
covering of short sales. East Tennessee 2d preferred
the whole remains firm.
289.112,394
was nearly 1^ millions
of shares sold
in the value of the sales
dollars, while
that
i,068,522,t2O2 18.462,540^ 1,854,028,700 1,041,898,873
greater than a year ago, but this includes the trust
shares
class.
York & New England the
Values.
NunibeT
Actual.
f
July.
Paul and the Northern Central
1,547,683.093
August
September
3,834,322,162 +208
3,865,124,342 +11-2
is
St.
belong to the same
+2-4
4,630,168,024
4tli
&
P.Ct.
1888.
But it should be remembered
December closes the half year and also the calendar year, and many companies in thit month make an
July
Sd quarter.
earnings show a falling off in December on
account of an enlargement of expenses, the Union
Pacific being a conspicuous illustration of this kind;
net
this week, but a preliminary
pressed
all
against $20,873,904 last year, the gain being 12,632,470
or 12 '61 per cent.
The exhibits of gross and stock also developed considerable activity yesterday on
net which have
come in for the month of favorable reports of earnings. Dealings in bonds have
December
The
St.
are
Paul
also
in
most
& Omaha
cases
for
very satisfactory.
that
month
reports
been on a large scale, with prices firm and advancing.
The Norfolk & Western loan of five millions brought
a gain in gross earnings of $125,963, which, however, out last week was subscribed for to over twice its
is deprived of some of its importance by the fact that amount.
the loss in the previous year had been even heavier
The following statement, made up from returns
than
this.
As regards net earnings, the Wisconsin collected by us, shows the week's receipts and shipments
Central reports a total of $120,976 in December, 1889, of currency and gold by the New York banks.
THE CHRONICLE.
18B
ITMk enMnt F,b.
Skipped by
S. Y. Bankt.^
Act /nttrior
200.000
11,637.000
130,000
(Jam. »1.881.OO0
90,000
Qaln.
t!i.O!W.nno
tl,7B7.nnn
HHin.
'
1, 1880.
tr.
T. Banks
|8,H88.000
OUTCDOT..
M(tt>fmenU
[VOU
per cents, added to the accumulations of
made by
li.
currency
the Treasury Department for the two weeks
is that the banks will soon
have their recent gain in surplus reserve taken from
With the Sub-Treasury operations the result is as them by the Government. But this will be done only
in part, and will, in great measure, as we have seen, be
follows:
temporary; the settlements for the new assessment on the
Ifet Change in
Into Banla. OutofBankt.
ITMk nutin; Feb. T, 18D0.
Bank Holdingt
bank holdings of Government deposits will, as they are
Qaln ei.!<31.000 completed, make a return flow to the banks from the
|1.75;.0O0
Banks Interior Morcment, u abore IS.OSS.OOO
11300.OOO
Loss. 1,700,01)0
lO.lOO.OOO
Bnb-Trwuurr operations
Treasury. Basides.there are large pension payments which
Leas. *3e9.noo
»1».5^7.000
tl3.lSS.000
Total ffold and tesal tenders..
should come in February. In February, 1889, the disBullion holdings of European banks.
bursements on that account reached $20,915,000. Then,
Februart, 7, 1889.
Ftbruaryi.iesiO.
too,
the silver coinage is an item to be got out every
0/
loto!.
miver.
Sold.
TotaX.
SOvr.
SoKL
month; it reached 3 million dollars in January. Of course
F
£
£
£
t
81,961.821
it does not count as a new supply of currency in its full
21.002.036 81.961.821
gi.OAose,
Ikigland.
89.351,000
19,151,0!H)
60,113.000 18,832,000 99.917,000 40,803,000
Viaace
amount,
because of the retirement of bank notes, which
45,774,')0')
16.253,00)
000
30,516,000
39,909
20,603.333
1S.301.667
Beinnnj
21.428.000 retirement in
5,4:i5,000 18.282.000 21,897.000
S.901,000 16,581.00
Anst.-UnnK';
January reached a net of $2,585,340. But
B.092.00U 7.817.00C t2,459.'i00
6,O64.UO0l 5,613.000 10.707.000
Netherlands..
we are inclined to think that the material drop in the
3,S20,030
4.088,000
2.647,000 1.273.000
8,726,000 1,863.000
MaURelKlum.
price the Government offers for the 4 per cents may check
Tot.t)ils week 111,034.369 88,401.667 197,436 038 106,220.821 88.570.00D 194.790,821
Oold.
Total ff^H Nn<1 IavaT inndein.
following that suspension,
«i.!l.si.""«
I
Tot.preT.Wt. I00.5t2.01-is5.858.000
lfc5.400.017 105.112,095.83,531,667 191.913,762
somewhat the retirement of these notes, and the corresponding fall in the market quotation may further stimuTREASURY OPERATIONS AND THE CUR- late the formation of new banks, which banks usually
RENCY SITUATION.
take out new currency; so that it would be no surprise
According to the first of I'ebruary Treasury state- if from this date the total of bank currency afloat should
ments, the GoTernment has decreased its holdings of decline less rapidly.
But even if there be nothing to fear from
cash during January about three millions in subtreasuries and about the same amount in depositary Government operations in the immediate future, the
hanks, the exact loss in both being $5,979,760. facts we have set out show that the present Congress
Deducting the hundred million gold held against the has a serious work to perform with regard to the curBear in
legal tenders and 22^ millions of subsidiary silver, the rency which it cannot afford to lose sight of.
total cash holdings now amount to a little over 146^ mind the very important circumstance that the TreasOn the first of July 1889 the cash ury has come to, or certainly very near to, the point of
million dollars.
For the past two years the
holdings, after deducting the same items, were 194^ minimum cash holdings.
millions, and on July 1 1888 they were 246| millions. crop movement and fall business have depended wholly
Hence we have a decrease in this balance of nearly upon the elasticity Government disbursements have
48 million dollars in the seven months since July last, given the currency. A net of 100 millions thus added
to the volume afloat in addition to the coinage (less
and nearly 100 millions since July 1. 1888.
As the Secretary gave notice the 21st of January bank notes retired) is the measure of the relief
How is this want to be met in the future ?
that the purchases of the 4 per cent bonds would be obtained.
discontinued after that date, at least until his net balance AVe hare currency enough, as we have often shown, but
was increased, we may assume that Mr. Windom does not it is of a kind which has no power to contract itself
The idle surplus simply collects in
consider he has now any more surplus than he needs to when out of use.
carry.
Certainly the large disbursement of Govern- our city banks, excites speculation because the banks
ment accumulations since July 1 1888 (nearly 100 having it must keep it employed, and when the legitimillion dollars), affords strong presumptive evidence mate demand to move the crops sets in, it is not on
of the correctness of that conclusion.
It would seem hand to do the work and fill the requirement.
For two
to follow that except in case of an emergency the years this Government disbursement has been the
That method can be looked to no longer.
Secretary will not reduce his cash holdings much, if dependence.
any, below what they now are.
In further corrobora- There was a time, to be sure, when the Treasury accution of this view, it is to be noted that the Treasury mulated the idle currency in the summer months and
has for two weeks been accumulating again, no doubt disbursed it in the fall.
That was feasible then, bonds
Fo"r Mr. being easily obtained at low prices when needed.
has made another call of " about 10 per cent"
There are several ways in which this situation may be
on the banks holding Goveriimant deposits, payable met. One is to increase the national bank note circulation
on or before March 1. Under the previous call he by raising the amount of the issue allowed to the par of
reduced the deposits from $47,372,668 to $37,990,111, the bond deposited. A bill has been introduced for
partly in anticipation of larger disbursements.
Windom
or about 9f million dollars; that
is
to
say,
twice the that purpose already, but
is
it
an expedient wholly
amount demanded was surrendered or paid into the temporary, for the bonds are being constantly paid
Treasury. Very possibly he may get these deposits off, and for that and other reasons the device is
down to 30 million dollars or less under this new only desirable in the absence of any better arrangement.
demand, especially as he has offered, in order to facili- Another proposal is an addition to the silver dollar
tate the settlement of the accounts of the banks sur- coinage; silver dollars and their representatives silver
rendering their deposits, to purchase at 124 the 4 per certificates, as our readers know, are a kind of
cent bonds which the Treasurer holds as security for currency which,
even as an agent for domestic
the deposit.
any longer than the
can be kept at par with
will be no disturbance in money by reason of Treasury gold.
If we must have silver, nothing is freer from
operations.
To be sure, the first impression which one objection than Mr. Windom's suggestion in case the
receives fromthe order stopping the purchases of 4 amount be restricted by a fixed monthly limit.
But of
At the moment then
exchanges,
there
is
a fair prospect that there
amount
is
is
of
no use at
so restricted that
all
it
Febbuaky
8,
THE CHRONICLR
1680
187
things a good national bank circulation, made con- siderable growth, and this growth the managers have
sought to foster and stimulate by a judicious construcvertible, elastic, safe, is the device which will best meet
Then also the
tion of branch and auxiliary roads.
Sherman
Senator
measure
the country's needs. The
the
system
has
experienced
great prosof
Pacific
end
proposed
by
plan
the
has introduced (substantially
North
Pacific
Coast
section
having
underperity,
the
direction.
But
right
the
in
effort
Mr. Knox) is an
all
when one is gone great development, in large part due to the efforts
makes elasticity and convertibility the first of the Northern Pacific management to secure that
For with those ends secured, the element of very object.
requisite.
Turning now to the results for the six months from
safety which is now so exclusively dwelt upon will be
July 1 to December 31, 1889, and which cover the
found to have been secured also.
the ideal plan will, we think, be reached
devised that
first
PROGRESS OF NORTHERN
PACIFIC.
It has been our custom for several years to present
an exhibit of the half yearly results of the Northern
Pacific to December 31, the company's fiscal year ending June 30. This time such an exhibit will be
especially interesting and useful, in view of the great
in the traffic and income of the property and
the beginning of quarterly dividends on the preferred
growth
half of the current fiscal year,
we find
for this period
an augmentation of over two million dollars in gross
receipts, bearing out in full Mr. Villard's estimate
made early last September, that the gain would reach
that amount for the half year. No doubt the larger crop
of spring wheat raised in Minnesota and Dakota in the
late season, as compared with the very poor yield of the
season of 1888, played some part in bringing about these
heavier earnings. At the same time, it must be remembered that striking improvement in this half-year
stock.
period has followed now for several successive years.
Before giving the figures for the half year, we may Thus, the $2,035,000 gain for the six months in 1889
be permitted to dwell for a moment on the results for comes after $2,213,000 gain in the six months of 1888,
the late calendar year, since they show such remarkable $1,065,000 in 1887, and $599,000 in 1886.
Moreover,
expansion.
In these twelve months the gross earnings if we look at the sources of the earnings, it is seen that
of the company increased no less than $3,681,000 over
not merely in the freight traffic but also
the increase
months preceding. The Pennsylvania, on its
lines east of Pittsburg and Erie, has been showing
gains latterly running between $600,000 and $700,000
the twelve
is
in the passenger business, the receipts
for the six
months
from the
latter
of 1889 being over a million dollars
in excess of those for the corresponding six months in
a month, but for the calendar year the addition to gross 1887, as the following summary covering the last five
receipts was not quite as large as that reported by years will show.
We have
the Northern Pacific, Ueing $3,342,000.
1887.
1888.
1 to December 31.
1889.
had for 1889 also some very striking changes by July
prominent Western companies.
lington
&
Quincy,
The Chicago Bur-
has an increase of
and 14,223,000 net for the twelve
for instance,
$2,989,000 gross
months, with a further increase of $1,336,000 gross and
$958,000 net on the lines controlled. But the additions in that case are deprived of
much
of their signifi-
Miles of road In Dec..
Freight earning
3.439
3,277
t
«
«
7,239.701
8.912.639
3,28o.089
PaBseiij?er
Total
Operating ezpenjBes.
Per cent
1,672,119
171,196
172,616
2.232,504
119,177
93,905
71,5911
12,656.868
6,780,616
10,620,911
8,107,166.
6,263,916
1,275,680:
(53-58)
(58-98)
1,357,025'
I
1.813,661
1,698,6171
219,672^
155,980'
5,871,850
2,691
5,262,180
2,911,783
Net.,
2,893
6,780,592
220,906
176,297
31,138
Mall
Express
Miscellaneous
cance, because they follow such very heavy losses in the
3,5U
(50-86)
1,131,565
129,603
116,3891
60,612'
26,338
:i7.312.291
6,713,270
8.372,168,
(15-93)
8.102,289
3.970,ia6'
8.610.981
(16-00)
year preceding, being thus simply a recovery from the
With $2,035,000 gain in gross earnings for the six
Not so, however, in the months, the improvement in net reaches $1,517,000.
There the gains have This is the first time in recent years that there has been
case of the Northern Pacific.
previously-existing depression.
been large and continuous for several years. In fact,
Northern Pacific had a gain in 1888 even
heavier than that for 1889, reaching $4,206,000, which
makes for two years an increase of almost eight million
If we comdollars, or considerably over 50 per cent.
pare with 1886, we find an increase of almost 9^ million
the
The
dollars in the period of three years.
f urnLshes the figures of
In 1888, with $2,213,000
the addition to the net was only
$225,000, and in both 1887 and 1886 the expansion in
After repeated heavy gains in
the net was quite small.
a decided gain in the net.
increase in
gross,
gross receipts, therefore, the
following the improved conditions.
both gross and net, back to 1886.
COMPAHISON FOE CALENDAR TEARS.
31.
The
specially large
augmen-
tation in expenses in 1888 was no doubt in great meas-
ure exceptional.
Twelve months endinj December
company has now reached
the position where net results also reflect the benefits of
practice i;igid
Northern PaciA'.
The company had been
economy
forced to
for a long time, so apparently
advantage was taken of the heavy earnings in 1888
make expenditures on a very liberal scale,
Gross earnlngB
13,851,820! 12,329,562
and
the ratio of expenses to earnings ran up to
Operating expenses
6,180,180
7.808,030
9,361,750
7,016,171
6.110,372
Net earnings
6,016,290
nearly 59 per cent, against less than 51 percent in 1887
In the earlier years net earnings did not keep pace and only about 46 per cent in 1886 and 1885. In the
with the increase in gross, but in the last two years late year we may suppose the expenses were on a more
there have been very decided additions, the improve- nearly normal basis, and, besides, the company did not
ment for 1889 being $2,315,000, following an improve- have an expensive switchback over the Cascade Mounment of about a million dollars in 1888. The result is, tains to operate. The ratio of expenses stands at 53 "58
that the net, like the gross, records a gain for the per cent, or much in excess of all the other years except
last two years of over 50 per cent.
The reasons for 1888, when, as we have seen, it was high for exceptional
this marvellous expansion are of course well known, reasons.
It is important to note, too, that this is the
having been many times pointed out in these columns. ratio in the six months of heaviest traffic and largest
The com^iany's lines run in large part through a new earnings.
and hitherto comparatively undeveloped section of
Charges for interest and rentals of course were higher
country, and thus there has been room for very con- in 1889 than in 1888, but this item absorbs only
1889.
1
'
1888.
»
21,711,991 18,060,108
12,380,111: 11,013,932
]
1887.
1886.
j
I
(
to
THE CHRONICLE.
188
$322,000 of the $1,517,000 gain in net earnings. As a
result there is a very large increase in the surplus
remaining above the charges, the comparison in this
respect being a particularly favorable one. Previous to
rvoL. L.
applicable to the retirement of preferred stock
;
the
payments were $5,209,944, $2,325,096 of
these being applicable to the Pend d'Oreille and Missouri Division bonds and $2,236,296 to the general
1889 the surplus in the July to December period had first mortgage bonds. The company sold 116,026 acres
bcMi a steadily diminishing quantity, having been during the six months for $606,134, and the total sales,
The receipts in.
$826,920 for 1880, $761,824 for 1887, and $444,851 for including town lots, were $807,528.
For 1889 the amount is $1,640,086. The com- cash were $788,161.
1888.
pany's income from investments, &c., for the six
months was about $220,000, which, if added, makes
INDUSTRIAL STATISTICS IN MASSACHUHere is a comparison of
the total surplus $1,800,086.
SETTS.
the surplus and the different items of charges for five
Massachusetts has undertaken to collect annual stayears.
tistics of its manufactures, and the experiment is being
Six months endinu Beeember 31.
watched with considerable interest in other States,
A'ortluni Pacific ItB.
ises).
1886.
1887.
1683.
The plan has been in operation for two or three years,
»
«
«
»
*
and under somewhat difficult circumstances fairly
6,871,e$0 4,367,025 4,131,685 3,970,126 3,640.981
Neteamlnga
successful results have been achieved.
If after further
F¥UA charges—
Rentals—
trial it shall prove to be an entire success
and the
174,768 406,676 338,798 327,325 290,413
St. Pwl & Northern PaciOc..
90,781
67,628
COBur d'Alene R'way & NaT..
indications are that it will that fact would operate as
1,059
1,031
1,070
1,070
1,070
St. Panl A Omaha
a strong inducement to its adoption elsewhere, thus
10,718
10,790
11,U6
U,033
11,116
Manitoba Road
32,342
22,454
23,124
22.882
22,321
Hlun. Union
furnishing an important body of data relating to the
34,442
BQuipmeot
111,808
34,056
36,000
38,000
34,236
Northern Pacific Terminal..
economic and industrial status of the country.
8,000
Tacoma Ijand Co
3,000
The lines upon which the undertaking is being
316,600
611,610
646,028
413,738
308,126
Branch Roads
201,306 171.B86 165,875 153,961 140,794
Taxes
earned out are of course defined and regulated by law.
Funded debt Interest
!,415337 1,465,511 !,281,23i 2,196,040 2,163,727
Cr.3, 75
The work is under the charge of the Bureau of Labor
83,346
General Interest
Sinking fnnda
29.406
27,367
167,678 100,463
101,459
Statistics.
That Bureau also had charge of the preTotal
4,234,764 3,912,174 3,369,761 3,143,206j3,010,011
paration of the decennial censuses of 1875 and 1885,
Surplus
l,6tu.usd 444,851
761,824 836,920 680^70
the collection of those statistics having been committed
Income from inrestments, Sto.
'220,000 t220,649 +274,208 t237,183 tl57,917
Total surplus
to its care by an act in 1874.
1,860.086 665,400 1,036,092 1,064,103|~788,887
These decennial cen* Partly estimated.
cuses, coming at periods midway between those of the
t Halt of amount for year.
The $1,860,086 surplus is equal to a trifle more than United States Government at the end of each decade,
5 per cent on the $37,140,733 of preferred stock out- have been quite a feature in Massachusetts history for
total deferred
I
I
—
—
standing on December 31, 1889.
six
months
in question
As
already said, the
form the period of heaviest
With the experience gained in 1875 and
Carroll D. Wright, who was Chief
the Labor Bureau from June 12, 1873, to October
half a century.
1885 however. Col.
In the succeeding six months there has here- of
establishing in that period an excellent reputofore been a deficit, though the amount of this deficit 1, 1888
has during the last few years been very greatly re- tation for himself and his Bureau, and who left the
duced, having been only $183,922 (after allowing for Bureau only to become United States Commissioner,
miscellaneous income) in 1889, against nearly a million affording a wider field for the exercise of his talents
earnings.
dollars
—
in
1887.
For January the gross earnings are came
reported at $1,138,885 in 1890, against $1,183,398 in
1889.
But this cannot be accepted as a fair criterion
of the probable tendency and results in future months.
to the conclusion that the results achieved by the
decennial census were not in proportion to the expense,
labor and trouble which it entailed.
Manufacturers
found difficulty in making the returns required by law,
does not appear that the company's line was and it took so long to get the volume out in its final
actually blockaded by snow, it is known that the shape that the statistics lost nearly all of their interest
weather in the Pacific section was unusually severe and much of their usefulness.
While
it
during January of the current year, and allowance we
It was Col. AVright's
assume must be made for that fact.
students and thinkers,
With regard
idea,
as
that
to
it
is
make
that
a
most
of
collection
the company's debt (we mean the of statistics each year, but limited to a few special
branches) the changes for points, would serve a much more useful purpose.
the six months consist chiefly in a reduction of the Accordingly that idea was urged upon the proper
amount of divisional bonds outstanding. About $13,- oflBlcials of the State, and the outgrowth of the matter
to
direct debt, not that of the
000,000 of the new consolidated bonds were offered to
stockholders in December, but of course do not appear
in the statement to December 31.
Amount
present efficient Chief of the Bureau, states that the
Outstandina.
General l»t mortgage bonds
General 2d moitgage bnnds
General 3d mortsage bnnd;<
Missouri & Pend d'OreiUe dtvls's.
DlTldend certlfloates
Total
Annual
was the passage of an act in 1886 repealing the law
providing for a decennial census, and calling instead
for annual statistics.
Mr. Horace G. AVadlin, the
Interest
on same
Preferred stock
Supplies on hand
Dec, 31.'89 Jum30,'S» J«n<!30.'88 Jun«30.'8T
46.943,000
46,943,000
46,878,000
48,878,000
20.000,00(1
20,000,000^ 20,000,000
20,01.0,000
11.138,0(10
10,997,000
8,593,000
4,264,000
4,940,000
4,863,000
5,191,500
820,500
935,500
1,274,500
4,640,821
83,165,500
4,989,930
8:1,434,300
81,608,500
76,710.321
8,005,170
4,896,510
4,602,619
new law
practically calls for answers to but eleven ques-
tions:
(1)
done
(2)
;
capital
used,
Kind of goods manufactured or business
number of partners or stockholders
(3)
;
invested
and
total
;
(4) principal
value thereof
;
value of articles manufactured
stock or raw material
(5) gross quantity
;
(6)
average
and
number
persons employed, distinguished as to sex, and
whether adults or children (7) smallest number of
Through the land sales the amount of the preferred persons employed, and the month in which such numstock is still being slowly diminished,being now as alread v ber was employed
(8) largest number of persons
;
stated $37,140,733.
There were also on December 31 employed, and the month in which such number was
f 6i8,551 of deferred payments oa account of land sales employed; (9) total wages (not including salaries of
37,140,738
37,172,57''
37,488,818
1,903,095
2,206,646
1,672,404'
37.786.199
1,425.446
of
;
b
Fkbecabt
8,
a!HE
IMO.J
CHRONICLE
18^
adults ments for one or more
managers) paid during the year, divided between
busi- comparisons, however,
the
that
and children, and sexes ; (10) proportion
for
pro- lishments which have
capacity
ness of the year bore to the greatest
number
of period compared, can
the
and
(11)
duction of the establishment,
years' comparison the
being
time
partial
year,
weeks in operation during the
of the three years.
In making
only the results for the estabfurnished returns for the whole
bo used.
Hence
in the three
figures comprise only 952 estab-
reduced to full time.
This is simple, and yet sufficiently comprehensive to
answer all practical purposes. The statistics furnished
by manufacturers must be held strictly confidential,
lishments, while in the comparison between 1888 and
1887 1,140 establishments are included. The value of
Bureaa, the penalty being a fine of $500 or imprisonment for a year. The schedules are to be returned to
the Bureau on or before the 20th of January, and Mr.
Wadlin thinks that with the replies all in by the Ist of
have reported for the whole three years turned out
goods to the value of $250,940,681 in 1886, »264,816,090 in 1887 and $271,692,112 in 1888, thus showing a
the statistics lies therefore in the fact that the same
establishments are compared, and not in furnishing
and the affairs of no firm, corporation or individual aggregates in regard to the entire productive industry
may be disclosed by the agents or employes of the of the Commonwealth. The 052 establishments which
Eebruary the Bureau could place the tabulated results
before the public by the 1st of April in each year.
That would indeed be a most desirable achievement. It
would give us three
months
steady increase.
One very
figures, as
that
after the close of the year
a mass of most useful information relating to production,
values, wages, capital, &c.,for that year, and would afford
a good idea of the prevailing industrial tendencies and
is
striking fact is brought out by the 1888
summarized for a few special industries, and
the relatively large proportion of the product
to the laborer in any given case.
Taking
which goes
the
gross value of
deducts from
it
the product made,
Mr. Wadlin
the value of the stock and materials
consumed, and the difference he calls the " industry
The material would be fresh, and come in product." This industry product he divides in two
conditions.
time for manufacturers to avail of it in their ordinary parts the part which is paid out for wages and the
part remaining out of which the manufacturer meets
€very-day affairs.
Thus far the Bureau has fallen short of what it his various expenses and gets his profit. In the case of
hopes to accomplish in the future. But at the time cotton goods, the part of the wage-earners is 57*71 per
—
new act were to be col- cent of the whole; in carpetings 59*55 per cent; in leather
had not been com- 57*07 per cent; in metals and metallic goods 57*32 per
census
1885
the
lected, the work on
desirable
to dispose of those cent; leaving in those cases only from 40 to 42 per cent
thought
was
and
it
pleted,
that the
first
returns under the
As a result, it out of which to meot commissions to agents (quite a
first before asking for others.
was not till October 1, 1889, that the volume covering considerable item in many cases), freights, insurance,
1886 and 1887 was transmitted to the Legislature ; this interest on loans, rents, &c., and a return on the
was followed only two months after by the volume investment. In the case of boots and shoes the proportion paid in wages is 79*07 per cent, leaving less
covering 1888, and which is now before us.
returns
The
not our purpose to review the 1888 results at than 21 per cent for profit, commissions, &c.
smallest amount paid in wages in any of the seven indusand incomplete, intended merely as preliminary to tries summarized occurs in the 82 establishments making
It is
length, the present figures being to a certain extent partial
There are one or two woolen goods, which paid out only 47*37 per cent of the
to which brief men- industry product in wages, and had 52*63 per cent for
however,
points of general interest
volume contains, profit and the various other expenses. Yet the woolen
present
The
made.
tion may be
besides the comparison of annual statistics, a presenta- goods industry has been in a notoriously unsatisfactory
The
tion of certain facts not before published derived from state, and during 1889 many failures occurred.
the census of 1885, and 82 pages of the report are difference between that industry and the boot and shoe
devoted to that branch of the subject. The tables giving trade, in the proportion of profit remaining, is found in
average values per unit in 1875 and 1885 of selected the [simpler machinery required in the latter and the
fuller
statements hereafter.
stock and materials used and selected
product (a common basis of comparison for
the two census years being taken in every case) are very
interesting.
They show clearly the decline in this
interval of ten years, which has been such a feature of
industrial history.
It is found that out of 184 articles
articles
of
articles of
consequently greater efficiency of the capital employed.
Thus, for every $1,000 of capital invested, the industry
product for boots and shoes was $874*48, while f<a:
woolen goods it was only $394*62.
But it was not our intention to dwell upon the differWe wish simply
ences between the several industries.
of stock or materials used by manufacturers, 137 show to show how large is the proportion which labor
a decrease in price, only 46 an increase, and 1 no gets in all of them. And the proportion is still
change. Taking selected articles of goods made, the increasing. There are exceptions, of course, as in
result
is
the same
;
out of
increase in price, 1 no change
143, only 38 show an cotton goods, where 57*71 per cent was paid in
and 104 a decrease. Per- wages in 1888, against 58*79 in 1887,*and in leather,
haps the most striking point, however, is that with
regard to the relation of the decline in stock as a whole
The decline in the
to that in products as a whole.
18*32
per
cent, that in the
former is represented by
latter by 20-29 per cent.
The much larger falling off
per unit of product than per unit of stock and
materials used in the manufacture of such product
where the figure is 57*07 for 1888, against 59*8.;
but for boots and shoes the percentage is up from
76*80 to 79*07; for carpetings from 58*53 to 59-55;
for metals from 56*61 to 57*32, and for woolen
goods
from
46*02
to
47*37.
We
note,
the average yearly earnings per individual
too,
that
(regard-
less of age or sex) advanced from $394*79 in 1887
shrinkage in the margin of to $402*45 in 1888, and further that there was also
profit, to the producer which has occurred in recent a slight increase in the average number of persons
years.
employed. On the whole, the wage-earner seems to
As regards the annual statistics for 1886, 1887 and be getting a large share of the benefits arising from our
1888, the Bureau has had returns from 3,517 establish- industrial development.
would seem
to illustrate the
THE CHRONICLK
190
EMPEROR WILLIAM AND POPULAR
REFORM.
Prince Bismarck,
it is
generally understood,
is
father
[VOL. L.
that there was no real difference of opinion on the great
questions which concerned the welfare of the nation. The
Emperor had much to say about the workingmen, as
nsual,and was full of great schemes looking to the aggran-
dizement of Germany. Nor was Bismarck reticent. He
enough to remove all mystery regarding the
appointment of von Berlepsch a man who had
The young Emperor is proved his fitness for the delicate and difficult position
tion indicated by the Prince.
revealing immense activity— activity, it must be ad- of Minister of Commerce and Mines by his marvellous
mitted, so far as appearances go, in a wise and becom- success in managing the miners during the strikes in
ing direction ; and whether he shall have the courage the Rhenish provinces. It was time, he said, that his
to a statement the purport of which is that Emperor
William would by-and-by be hie own Chancellor. The
present tendencies of the Emperor point in the direc-
go so far as to assume the direct responsibilities of
Chancellor of the Empire, it is certain that he is to be
counted upon as a most pronounced force in German
politics. Hitherto it has been Bismarck, and Bismarck
Bismarck has led the Kaiser has followed. It
only.
whether the
is so no longer; and it remains to be seen
Chancellor, limiting the sphere of his duties and
responsibilities, shall remain as chief counsellor in Imto
;
said
—
official burdens should be lightened, and in order that
he might be able to give his thoughts more exclusively
to the Empire, he was making arrangements to transfer
the weight of Prussian affairs to younger shoulders.
The banquet at the Chancellor's has done much to
and make the general German
We have now the best of reaaons
for believing that although Emperor William is selfrest
and
leisure
the
asserting and authoritative almost to a fault, he still has
perial matters or retire and enjoy
service.
and
arduous
need of and leans upon his tried and trusted Chancelhe has earned by long
these
forces
day
to
from
day
lor.
Grermany
We know also that the Chancellor, much as he
from
Our news
antiSocialof
the
retirement and rest, and willing as he is to be
defeat
may
wish
Since
the
upon
us.
thoughts
ist bill in the Reichstag a week ago, there has been no relieved of some of his official burdens, is still prepared
end of activity in high places in the Fatherland. It to stand by his young Emperor's side, lending what aid
clear
away
difficulties,
situation intelligible.
at the time that the defeat of the bill, he can in the perfecting of that Imperial structure of
The ground being
not a surprise, was at least a source of vexation to which he was^the master-builder.
Bismarck had set his heart upon thus cleared, we are better able to understand what is
the Government.
It has become a
making its provisions law, his object being to crush the meant by the proposed reforms.
was well known
if
Democracy, who of all the parties in the State
It is
are his most bitter and unrelenting enemies.
mainly owing to this antagonism that several of the
towns of Germany, among them Berlin, have for some
time been under a minor state of siege. In the Parliament which was dissolved in January, 1871, they had
Social
Government to court the workingwe have seen, has for the last
three years been rolling more and more in favor of
Three years ago, on the eve of the
liberal principles.
general election, Bismark in his famous " sturm und
drang" speech threatened nothing less than war
necessity for the
classes.
The
tide, as
members but, like all the other Liberals, if the people did not elect a reasonably submissive
they sustained severe defeat in the elections which fol- Reichstag. This year both he and his master have
The people are
lowed, and in the late Parliament their numbers were gone on
a very different tack.
The workingreduced to ten. The refusal of the Reichstag to pass not commanded they are courted.
object
of Imperial
justly
regarded
as
proof
the
special
the Government measure is
man is to be made
insurance
means
of
general
public
senBy
taken
place
in
the
solicitude.
change
has
and
that a
attention
timent, and that the Liberals are again in the ascend- societies providing against misfortunes by death, accitwenty-five
;
—
was noted at the time as remarkable that dents and sickness, and by means of special legislation
removing all grievances and giving him perfect equality
seat to Berlin on the eve of the defeat of the bill, did before the law, the workingman is to be made to feel
Then, again,
not appear in the Reichstag and speak in its favor. It that the Government is his best friend.
was also made the subject of remark that when later the Roman Catholic vote is courted by generous words
on the day of defeat Emperor William dissolved the and promises as regards colonial privileges. Time was
Reichstag, he made no mention of the bill or of its de- when Bismarck proudly refused to goto Canossa to win
feat, contenting himself instead with enlarging on the Catholic votes.
He went once when he modified the
imporjance of workingmen's insurance societies and Falk Laws. He has gone again by writing to the Gerupon the plans of the Government in connection with man Ambassador at the Vatican, expressing his pleasant.
It
Prince Bismarck, although he hurried from his country
such.
Speculation immediately became rife and rumor be-
came ungenerously
There was difference of
Bismarck
was displeased, we were told, with the Emperor's speech
in dissolving Parliament.
The Chancellor was making
arrangements to retire. This theory found immense
encouragement in the appointment of Baron von Berlepsch to the Ministry of Commerce and Mines, an
office the duties of which Prince Bismarck had hitherto
discharged in addition to those which belonged to the
inventive.
opinion between Bismarck and his master.
ure at seeing the establishment of Catholic missions in
German colonies, promising to admit all the religious
orders,
the Jesuits not omitted, and giving solemn
German protection. The concessions in
assurance of
both cases have the same end in view. The aim of the
Gxivernment is to win at the ballot-box.
There can be no doubt that this policy of conciliation
It cannot but be gratifying to
will have a good effect.
the workingmen to find the uncompromising Bismarck
on their side. Roman Catholic opposition will most
undoubtedly be qualified by Bismarck's marked change
Chancellorship proper.
All ideas of difference of opin- of tone.
It would be strange if the enthusiasm of the
ion between the Kaiser and Bismarck were, however, young Emperor in the cause of the people should count
dispelled by the dinner given at the Chancellor's house for nothing.
Some of his suggestions are juvenile
on Tuesday night last. The Kaiser was present; and enough; but the spirit which he is manifesting is
never was finer feeling manifested than was shown by eminently praiseworthy, and it is not conceivable that
the one to the other.
It was made abundantly plain it should fail to win over the hearts of many to hia
Febedabt
8,
THE CHRONICLE.
1890. J
side.
There is no time to be lost, and as a
mere electioneering manoeuvre the Emperor's course
The elections are to
must be
commended.
be held on the twentieth of the present month. Before
the twenty-third it will be known whether the Liberals
It will
or the Conservatives have gained the victory.
be one of the keenest contests in recent German history.
Parliament will reassemble about the middle of
March. There are many who feel convinced that these
made by
professions of liberalism
the Government will
be ineffectual in securing even anything like a controlling majority in the Reichstag.
We shall see and
when Parliament meets we shall be in a better position
to judge of the purposes of the Government in the
;
matter of reform.
WATER BONDS AND
THE GALESBURG
DECISION.
In April 1888 (pages 432, 494, 498) we discussed at
Gresham with
regard to water bonds which attracted much attention.
That decision has now been affirmed, and it will interest our readers to have the facts of the case and the
considerable length a decision by Judge
conclusions of the Court before them, so that they may
be enabled to make an intelligent judgment with regard
to the matter
and the applicability of the decision to
other similar bonds.
The
city of Galesburg, Illinois, granted a franchise
May 12, 1883, to construct and maintain water works within and near the
to one Shelton and his assigns.
both public and private wants, agreeing
pay hydrant rental a few days afterwards the
city further agreed with him to sell him some water mains
city to supply
also to
;
which the
city owned at the time.
Shelton caused the
Galesburg Water Works Company to be organized, and
the works were built and formally tested, the members
of the Common Council being present, and the same
day were accepted by the city by resolution, December
6
1883.
Thereupon, Shelton having previously
assigned all his rights to the Galesburg Water Company,
that company made a trust mortgage to the Farmers'
Loan & Trust Company to secure a series of bonds. To
aid in the sale of these bonds the city officials (that
is,
the Mayor, the City Engineer, the City Attorney and
the Chairman of the Water Committee of the City
.Council), besides leading
men of
Galesburg, gave
certifi-
cates and letters as to the excellence of the works
and
the unquestionable nature of the investment, and certified copies of the resolutions of the Common Council
accepting and approving the works were also furnished.
191
The property was bought in by the bondholders
through a reorganization committee. This committee
formed a plan for operating these water- works and putting in additional money, and urged the city authorities
to permit them to take possession of the water-works
and to supply water, but without success. They also
filed a cross-bill in the suit brought by the city, asking
for possession of the property and water-works.
The
Circuit Court of the United States decided in favor of
the city, holding that the city had a right to annul the
contract, and that the bondholders had no greater equities than the water company itself, except as to a
small amount in arrears for hydrant rental.
This decision has been recently aflSrmed by the Supreme Court
of the United States.
Judge Blatchford, in giving the
opinion of the Court, after recapitulating the facts, says.
" It is quite clear, on tbe proofs, that the water furnished by
the water company for the period of about nine months during
which its works were operated was unfit for domestic purpttses
that the course of the city was entirely forbearing and
generous toward the water company ; and that after the gang
wells were completed in Novemoer, 1884, the supply of water
was inadequate for the protection of the city from fire, and its
quality was but little better than it was before the construction
of the gang wells. After they were constructed the water
distributed to the customers of the company was surface
water mixed with water from the gang wells. The company
was at no time able to furnish even bad water in the quantity
required by the contract, or needed by the city for fire protection or for flushing the sewers. During tlie eighteen months
which elapsed after the completion of the works, the company
had ample time to comply with the contract, and the city was
vmder no obligation to give it further time to experiment.
The taking possession by the city of the old water mains, after
the passage of the resolution of June 1, ]8?5, was necessary for the protection of the city from fire. It could not continue, after annulling the contract, to receive from the water
company water for fire purposes. The contract for the sale of
the old mains was a part of the contract with the city in relation to the water works. The two agreements constituted one
contract. The contract for the sale was merely a contract to
sell, and not an executed contract of sale.
The delivery of
the old water mains was conditional, and made for a special
purpose and, the conditions not having been performed, no
title to them passed either to the water company or to the
trustee under the mortgage, and the recaption of them by the
city was lawful.
By the contract for their purchase, both
what mains were to be purchased and the price to be paid for
them remained to be determined, and so the agreement was
executory. It was also by its terms conditional; and the delivery, too, was conditional, for a specific purpose, and without any intention that the city should, by the making of the
agreement, part with its title to the mains.
•'
In regard to the rights of the bondholders, although the
purchasers of the bonds may have been influenced to purchase
them by the terms of the resolutions of December 6, 1883, and
by the letters from the officers and citizens of the city intro-luced in evidence, the city was not thereby estjpped from refusing to pay the rental for the hydrants, which by the terms
of the mortgage was to be appUed in payment of the interest
on the bonds, or from having the contract canceled. Although
the bondholders exercised good faith in purchasing the bonds,
they bought them knowing that tbe city was not a party to
them, and that the payment of water rents by the city for the
hydrants depended upon a continued compliance by the water
company with the terms of the contract. The letters of the
private citizens could not affect the city; and the letters from
the officers of the city could not affect its rights, because they
were not written by its authority or within the scope of theii
;
;
Bonds to the amount of $125,000 were sold at about
and are mostly held by life insurance companies
and savings banks.
powers as its oflScers.
" The scope of the resolution
Subsequently complaints were made both as to the
ing the works, extended only to
par,
character and quantity of the water (the claim being
that it was impure and insufficient), and the city passed
a resolution, approved June 1, 1885, purporting to
annul the franchise. No right to annul was reserved
in the ordinance of the Common Council. Immediately
thereupon the city by force seized upon and took possession of the old mains
and rendered the system
which
it
had sold
to Shelton,
of water-works inoperative. It
then commenced a suit, filing a bill in the Circuit
Court of the United States for the Northern District of
Illlinois, praying that the contract between Shelton and
the city be annulled and all rights created thereby forfeated.
The
trust
holders, intervened,
ment
;
company, on behalf of the bondand as soon as default in the pay-
of interest occurred
it
foreclosed the mortgage.
of December 6, 1883, acceptthe fact that the provisions of.
the ordinance respecting their construction had been complied
with, and the test required by the ordinance had been satisfactorily made.
It covered only the physical existence and
condition of the artificial structures. The contract extended,
however, to the amount of water which the works should be
able actually and permanently to supply, and the character of
the water to be supplied, all of which was uncertain, and the
risk of which was assumed by Shelton and his assigns, their
obligation being a continuing obligation, and their right to
the continued enjoyment of the consideration for it being
dependent upon their continuing to perform it. There was in
the resolution of December 6, 1883, no guaranty that the water
company could or would in the future comply with its contract.
The liability of the city to pay in future the
hydrant rents depended upon the future compliance of the
water company with its contract pnd in case of its failure
the city would have the right to ask for the recission of the
contract. This the bondhol lers knew when they purchased
the bonds. The city entered into no contract with them, and
the passage of the i-esolution of December 6, 1883, could not
deprive the city of tiie relief to which il would otherwise be
entitled on the* failure of the water company to comply with
•
THE CHRONICLE.
1^2
its
The provisionB of the ordinance
comnanv to rumish the amount of water
contract.
Ifrater
requiring the
called for by-
good,
it, and that the water supplied by the works should be
clear water, and the source of supply not be contaminated by
the sewerage of the city, were known to the bondholders when
they purcliased the bonds, and they also knew that the payment of the Iiydrant rents which would go to pay the interest
on the bonds must depend upon the furnishing of water by
tbe water company according to tlie contract.
" Nor could the test required by the ordinance and satisfactorily made by the water company be a test of anything but
the presBiire power of the works. It could not be a test of the
quantity of water which would thereafter be supplied by the
works nor of its continuing quality for domestic purposes. The
resolution of acceptance cannot be considered as a guarantee
to tlie bondholiers that the water comi)any would thereafter
perform Its contract for furnishing water in the quantity and of
the quality called for by the ordinance. The bondholders were
bound to take notice of the contents of the ordinance before
purchasing their bonds, and purchased and held them subject
to the continuing compliance of the water company with the
terms cf the ordmance. They bought the bonds as obligations of
the wafer company, and not as evidences of indebtedness of the
city; and they had information from the ordinance that the
city would not be liable for hydrant rents if the water company failed to furnish water as agreed, and that if the water
company neglected to comply with its contract the city would
hare the right to invoke the aid of a court of equity to enforce
a cancellation of the contract.
" As to the old water mains, the trustee and the bondholders took the lien of the mortgage subject to the conditions of
the agreement for the sale of them by the city to Shelton.
Inamediately after the passage of the rescinding resolution of
June 1, 1885, the city proceeded to resume possession of the
old mains, and its bill against the water company was filed
immediately thereafter, and on the 30th of June, 188.5. The
water company never credited the city with any money due
on account of rent for the hydrants, a.pplying it as payment
tin account of the old water mains; nor did the city ever apply
toy money due by it to the water company for hydrant rents
towards paying itself for the old mains.
" The principal contention on the part of the appellants is
that on the acceptance of the ordinance by Shelton, a right in
Ihe franchise vested in him, which could not be defeated even
though he afterwards failed to comply with its terms; that
the failure of the water company to furnish water in the quantity and of the quality called for by the ordinance was only a
breach of a condition subsequent; and that a court of equity
will not lend its aid to divest an estate for such a breach.
"But it seems to us that in respect to a contract of the character of the present one, the ability of the water company
to continue
to furnish
water according to the terms
of
the ordinance
was a condition precedent to the
continuing right of Shelton
and his assigns to use
the fitreefe
of the
city,
and to furnish water for a
period of thirty years and that when, after a reasonable
time, Shelton and his assigns had failed to comply with the
condition as to the quantity and quality of the water, the city
Imd a. right to treat the contract as terminated, and to invoke
the aid of a court of equity to enforce its recission.
suit
tor a specific performance of the contract, or a suit to recover
damages for its non-performance, would be a wholly inadequate remedy in a case like the present. The danger to the
health and lives of the inhabitants of the city from impure
water, and the continued exposure of the property in the city
to destruction by fire from an inadequate supply of water,
were public questions peculiarly under the care of the municipality and it was entitled and bound to act with the highest regard for the public interests, and at the same time, as it
did, with due consideration for the rights of the other parties
to the contract."
;
A
;
It will be seen that the
no larger
equities
Court in this case recognizes
on the part of the holders of the
bonds than on the part of the water company. It
effectually disposes of any idea that the holders of
bonds issued by water companies have any greater
rights than the company itself.
A city, it seems, can
lescind a contract of this nature, and such recission
•will be recognized by a court of equity, although parties
have advanced their money on the faith of the contract,
and cannot be put back in the same position that they
occupied before. This is now the law of the land, and,
surprising as it may seem, it must be recognized as such.
It is to be remarked that in his opinion Judge Blatchford does not cite a single authority sustaining such an
exercise of equity powers, nor take any notice of the
ease of the Joliet Water Company, in which another
town, which, unlike Galesburg, had expressly
reserved in the ordinance granting tbe franchise a power
to cancel the same, was enjoined by the same Court
Illinois
from exercising such power
until the bondholders
year's possession of the works in
had a
which to furnish water.
fVoL. L.
COTTON CONSUMPTION AND OVERLAND
MOVEMENT TO FEBRUARY 1.
The subjoined statements
of
overland,
receipts,
months from September 1
January, and they possess particular
exports, &c., cover the five
to the close
of
consequence of the results disclosed. To
begin with, the amount of cotton moved by rail during
January has reached an important aggregate, so that
now the total for the season, both gross and net, is
greater than in the preceding year.
Furthermore,
there has come into sight during the month 780,523
bales, a figure exceeded but once (1883) since we began
the compilation of these returns, and then by only
twenty thousand bales. The total in sight on February
1 is, therefore, considerably in excess of former years.
Finally, Northern spinners have taken cotton very
freely since the close of December, bringing their
aggregate takings up to 1,404,456 bales, or 77,443 bales
interest in
in excess of 1888-89.
OVERLAND MOVEMENT TO FEBEUART
^he
gross
amount marketed overland
1.
for the
month
has been 278,287 bales, which compares with 202,688
in 1889, and 160,234 bales in 1888.
There is
consequently an excess in the total for the season to
date when contrasted with either 1888-89 or 1887-88,
bales
reaching in the
first
latter 26,883 bales.
instance 40,289 bales, and in the
The movement
sippi River above St.
across the Missis-
Louis continues heavier than in
and the same is true of the routes
and Cincinnati. The deficiency in the shipments from St. Louis and via Louisville, moreover, has
been somewhat reduced. Tne net for January makes
an even better exhibit in comparison with the two preceding years than does the gross, the increase over last
year being over 50 per cent, and contrasted with 1888
the preceding year,
via Cairo
The figures are 162,174 bales,
106,756 bales in 1889, and 81,701 bales two
While the season's total is 28,436 bales
years ago.
greater than a year ago, it is yet 74,388 bales lees than
almost 100 per cent.
against
in 1887-88.
The
details of
the whole
movement
land for three years are appended.
OVERLAND FROM SEPTEMBER X TO FEBRUARY
1889-90.
over-
1.
1888-89.
1887-88.
Since September 1 shipped—
Via St Louis
Via Cairo
„
Via Hannibal
,
Via EvanBTiUe
Via LouisviUe
Via Cincinnati...
Via otlier routes
BUpped to milla, not Included above.
.
Total gross overland
367,781
257,285
51,060
15,739
91,883
153,035
117,677
5,913
391,604
222,124
7,582
32,835
137,037
127,491
96,322
5,089
363,918
216,949
87,848
160,726
116,002
83,989
4,928
1,060,373 1,020,034 1,033,490
ihipmenti—
Overland to New York, Boston, &c....
Between interior towns...
Galveston, inland and local mills
Xew Orleans, Inland and local mills...
Mobile, inland and local miUs
Savannah, inland and local mills
Cbarleston, inland and local mlUs
N. Carol'a ports, inland and local mills.
TlTKlnla ports, Inland and local mills..
Dedttet
214,811
49,613
193,483
57,456
22,504
24,683
5,297
12,048
19,741
275
670
12,150
7,941
142,774
43,888
6,528
16,128
1,527
3,203
794
750
986
17,218
33,107
26.041
Total to be dednoted.,
342,348
830,495
241,077
Leaving total net overland*
718.025
689,589
792.413
' XiUs total Includes
since
slilpiuenis to Canada bj rail, wUloli
Septeinber 1 in 1889-90 amounted to 34,493 bales; in 1888-89 were
27,238, bales and in 1887-88 were 29.113 bales.
RECEIPTS, EXPORTS
AND SPINNERS' TAKINGS.
month have been 700,909
than in the corresponding month
a year ago, when the total was 718,091 bales. Compared
with the receipts in 1888 (527,570) there is a very large
The aggregate for the five months, however,
increase.
Foreign exports
is heavier than ever before recorded.
Eeceipts at the ports for the
bales, or a little less
Febbcabt
THE CHKONICLE.
8, 1890.]
during January have heea only slightly greater than for
lilie period of either of the two preceding years,
reaching 595,281 bales, against 580,377 bales and 588,518
bales respectively, but the total to date this season is
the
19S
Total marketed, as above
bales.
Interior stocks In excess of Sept. 1
Total In sight
bales.
1889-90.
18i-8-89.
1887-88.1
8,950,450
5.400,489
5,570.183
275,440
8.'»2,000
364,000
6,225,890
5,752.489
S.g34,18«
This indicates that the movement up to February 1
is 473,401 bales more than in 1888-89
Port stocks have been and 291,707 bales greater than in 1887-88.
the greater part of the gain.
As it will interest the reader to see what has come
drawn upon pretty freely during the month, and now
into
sight each month, we have prepared the following:
they exhibit a decrease from 1889 of 235,336 bales.
over 500,000 bales more than for either of the previous
two seasons, the Continent (including France) absorbing
Movtmenl from
Sept.
1.
reb.
1,
:8H», (0
Srpt.
1890.
Oalveaton..../.,
El Paso, &c
New Orleans.
Receipts Jteceiptr
tlnce
since
1,
Sept.
1.
1889.
iS^8.
768.085
662.77M
EXPORTS SINCS SEPT.
Oreat
BHtain'
628,429
i.eco.4!i 1,381.2:0
.
217.915
23.303
836.4*3
Florida
BaTannah
Brunswick, &c.
Charleston
Port Royal,4o.
WlUnlncton....
Wtt»hlngt'n.4(
Nortolk
Waat Point....
19.260
711.005
06.533
830,00:
12,702
143,930
286,038
1,71)8
125,133
3,P69
139.843
346,910
279,345
41C.0S9
815.957
71.445
59.791
63.560
Newp'tNews.Ao.
40,377
Rew Tork
70,47J
46,479
BostoB
Baltimore
2fi9,688
44,789
22 535
60,995
143,228
30,326
284,289
61.01*
90,063
44,018
46T,84S
104,349
24.246
137,405
205,789
31342
2'J.P88
100,861
18.554
71,926
13,321
648,";
Ootobi-r. ...
November.
December..
January
Total 5 months.
165.051
31,75t-
197,710
125.095
20,609
146,704
88,013
1,783
418,825
80,784
66,362
18.845
19,876
298,268
78.099
84,589
48.119
82.0S5
43,804
1,800
20,493
Total
1888
4.445,900 1,807,622
Total
1887
4.537,770 1,879,666
2,033,718
Great Britain ezirarta include to
tlie
1.606
4.868
132.062
10.560
6,125
10,806
421,921 1.138,178 3.593.S20
697,851
288.803
919,597 3,016.022
933,187
2T3.393
934,014 3,087.073
930,009
Channel.
1886 87.
1^87-S8.
824,'
424,209
09
4'3Mii
1,389 901
1.552,530
1,467,787
662,654
5,477,699
I.e09.r48
1,613.028
1,573.921
780,523
1
771,847
1.588.706
1,6 9,906
1,>40,871
54",271
6,225.(00
5,752,489
5,934,183
,493,V89
l,515,li07
1,.'547,937
WEIGHT OF BALES.
To
Feb.
furnish a more exact measure of receipts
1
we
up
to
give below our usual table of weight of bales.
Sime
Same
I
1,
peri'd in perCd <n
18889 1867-8.
lEOO.
47.679
19,876
27,649
17,239
1689
4,982.125
1888 89.
70
Sitt monUia ending Ftb.
Total
*
303,844
102,375 410.818
12.«44
12,814
884,686 1,314,958
September.
4.118
51.06rt
PIUladelphla.4o,
StockM
Ftb. 1.
Tbtal.
44,789
178,7f,t)
1889 90.
Monlhi.
TO—
ntnt.
84,659
12,017
...
Mobile
OmtU
France.
273,284
1889,
1,
of the present year
Number of
Weight in
Bale*.
Poundt.
Average Average Avtrag*
Weight
Weight.
Weight.
772,329
405.488,172
523-02
525-49
51611
Louisiana
1,660,414
821,9!'7,951
49350
482-10
Alabama. ..2...
217,915
1,003,716
297,608
666,632
128,802
1,202,836
108,303,755
488,669,172
142,946,880
323,609,838
62,863,104
601,418,OCO
49505
49700
507-00
49900
4feG-86
49012
480-00
486 00
485 44
49084
48806
483-80
501 90
481 00
476 00
475 00
473 00
Texas
Georgia*
Bonth Carolina.
Virginia
North Carolina.
Tennessee, dco..
500-00
48814
Using the facts disclosed by the foregoing statements,
Total
5,950,450 2.955,286,872 49665 497 54
485 69
we shall find that the portion of the crop which has
* Including Florida.
reached a market through the outports and overland,
It will be noticed that the movement up to Feb. 1
and the Southern consumption since September 1, this
shows a decrease in the average weight as compared witli
year and the two previous years, is as follows:
the same period of
last
year, the
average this
year being 496*65 pounds per bale, against 497 "54 pounds
1889-90. 1888-89. 1887-88.
Receipts at the ports to Feb. l .... bales. 4.962,425 4,445,900 4,!i37,770 for the same time in 1888-89 and 485-69 in 1887-88.
Net shipments overland during same time 718,026 689,589 792,413
THE COTTON GOODS TBADE IN JANUARY.
Total receipts
bales. 5,680,450 5,135,489 5,330,183
The demand for staple plain and colored cottons
Boutliem consumption since September 1 270,000 265,000 210,000
comparatively light during the month, jobbers and
Total to Feb. 1
bales. 5,950,450 5,400,489 5,.';70,183 was
manufacturing
trade having stocked up so freely
the
The amount of cotton marketed since September 1
during
the
latter
part
of 1889 that they are amply supin 1889-90 is thus seen to be 549,961 bales more than in
plied
for
the
present.
The market retains the firmness
1888-89 and 380,267 bales more than in 1887-88. To
tone
noticed
for
some
time past, and coarse yam
of
determine the portion which has gone into the hands of
goods
are
a
trifle
dearer
because
of an advance in cotton.
Northern spinners during same period, we have prePrint cloths opened at 3*56 cents and closed at that
pared the following
Total receipts to February 1, 1890
..bales.
5,950,450 figures, but were sold from the 11th to the 27th of the
Stock on band oomraencemenf, of year (Sept. 1, 1889)—
At Nortliem ports
30,845
At Southern ports
25,51956,364
At Northern interior markets
59.616
3,272—
Total supply to February 1, 1890
6,010,086
Ol this supply there has been exported
to foreign ports since Sept. 1,1889.3,593,820
Leas foreign cotton included
4,682—3,589,138
Sent to Canada direct from West
3 1,193
Burnt North and South
5,415
Stock on hand end of month ( Feb. 1, 1890)—
At Northern ports
159,353
At Southern ports
533,498- 697,851
At Northern
interior
markets
8,733- 4,335,630
Total takings by spinners sinoe September
Taken by Southern spinners
1,
1889
1,674,458
bales
in 1883-89
Increase Jn takings by Northern spinners this year
The above
bales.
SIGHT.
An
additional fact of interest
is
the
total of the crop which was in sight on February
compared with previous years.
1,
64x64 ard. hams
9%
9Si
9%
3-56
3-56
3-56
«. 93i
7. 9^
8.
9. 9 "8
10. 978
11. 10
3-36
3-56
3-56
3-56
3-30
2
3.
4.
5
12
In the foregoing we have the number of bales which
has already been marketed this year and the two preTious seasons.
1.
14
77,443
1889.
'
dling.
270,000
Northern spinners had up to
Feb. 1 taken 1,404,456 bales, an increase over the corresponding period of 1888-89 of 77,443 bales and an excess over the same time in 1887-88 of 46,505 bales.
AMOUNT OF CROP NOW IN
1890.
1,404,456
1,327,013
indicates that
at 3 -50 cents.
Ootfn Print- Sheet- Lan- S'lh'n OotVnPrint- Sheet- Lan- S'th'n
low
low
tni
ings, ettiter 3-yd.
ina ingt, ea»t*'r 3-yd.
mid- cloths. stand- ging- sheet- mid- eloti
stand- Ging- sheet-
13.
Takenby Northern spinners since September 1, 1839
Taken by Northern splunors same time
month
..Holi day..
714
714
6^
714
.8.
1H
6H
6%
6\
e\
6%
7>4
714
714
714
7>4
3-30
916,6 3-.^0
15. ^9.a„ 3-50
3-50
18.
17.
3-lO
3-10
18.
19.
20. 103,6 3-50
21. 10' 1„ 3 50
22 107,6 3-50
3-50
23. 1' la
3-50
24. 10>s
3-50
25 lOijj
26.
3-50
27. lOia
3-56
28 10>»
3-56
29. lO'i,
3-56
30. 107,6
3-36
31. 107l»
7'4
714
7^4
714
7>4
7'4
64264 ard.
dling.
I
9>4
9k
W'lS
3-94
9-94
3-94
9'>is
394
9'Sn
9?I«
394
391
394
hams
..HoU day.
7>«
7
7J3
7
7^
7
7's
7
ings.
an
5%
5%
5%
..8..
9-'l6
96,,
9^8
.S.
10
ings.
3-94
3-94
3-94
7i«
7'9
7's
719
7»9
719
53i
5%
5\
5*
3%
...S..
6%
6\
6%
6^
6\
6%
6%
6H
6%
6^
6\
6%
6%
6%
6%
8.
7>4
7'4
7>4
714
7I4
7'4
,8.
7"4
7J4
7-4
7H
714
939
394
97i«
9'l«
4-00
97ifl
97ia
ithe
97,,
9''l8
9%
938
938
939
400
4-00
4-00
4-00
4-00
4 00
4 00
400
4-00
4-00
7'3
7»«
7i«
7I3
7»3
7>4
.8..
7's
T^a
71s
7>4
7>s
7>8
..8..
933
9^6
939
938
4-06
406
400
4 06
7's
-I9
7's
71s
5?l
7
7
7
7
7
7
5\
5%
3%
3%
5%
5H
5^
5!H
5H
5%
5%
5%
The above prices are—For cotton, low middUng uplands at New York:
for priming cloths, manufacturers' net prices; for ahaetiug«, agents
prices, winch are subicot to an averajjo discount of 5 par cent, except
when otherwise stated Lancaster Ginghams, 5 pjroent discount; anl
;
Southern sheetings net.
THE CHRONICUi
194
IVou
-4 mount.
UNITED STATES TREASURY STATEMENT.
Silver certificates
Lees amount held In Treasurer's cash
Fractional currency
Less amount estimated as lost or destroyed.
. .
Aggregate of debt bearing no Interest.
$786,270,530
RBCAPITULATION.
Principal.
December
81, 1690.
AjueU and
BalMeet.
246.401. P5I
67,416,tim
S4»,e6.M6
«e,080,2(>7
Bullion....
on band ....
20.4.12.870
813.818.B4S
151.301.980
31,31«,100
netAUoMity)
1S8.' 67,ie»
122,935381-
[Anet) ,"l«.0l3.4^^
Total gold
160.1 IU.U3U
C«niaoates Isaued
Certificates
Certlllc's,
190333,093
2»3,29(l.8ei
288.6:'5.500
B,4c8.V22
4,r51,b4U
(Ami) 2»8.7I2.5»-e
Total sllrer
iS4.;85.Pb9
Certiacates Issued
2413.190,040
28S,2fl«,U89
Bnlllon
IB
2,252,U66
Certiflc's, net.(L<oM!«i/) 261,331.771
282,949,073
on hand
Certificates
, .
8.264,
.
1
5,873.9 ?5
9,570.000
670,001
Certiflc's, net.(Lf«l>fl«v)i
Net U.t*. notes in treas.
11.630,00(.
9,000,000
!
|
Trade dollar butlicn
National Banli notes. ..
Deposits in Nat. Banks.
Interest dtie.unpaid
Accrued interest
Matured debt
7.608.2 !4
6,074.588
148.252
6,673 9?5
6,074,538
87,1)90.111
40,939,852
3ioax C.
Totals
36,180
828,118
,938,705
Debt and lnt.(LtoM!«v)
Fract'l cur'cy redeemed
7,061,027
12,086.03*=
Union
l,3:l«
9b9
15.240
544.137
154,5'.-
Redemp.res'r.(L«iMIi(i/) 172,672,1
Nat. Bank notes in pro6,029,508
cess of redemp. .{Asset)
174,604,790
[
4,367,102
170,237,688
166,643,161
4,0 ; 5.986
82,»31,»66
1,158,381
1,151,261
2,060
780
10,000
(UoMlUy)
InUon D.CoLbds pd (Asset,
Net
532,017
213,811
41,3?5.282
108,0n3
42,539,32'
2,231
.
.(Liability)
Net balance
41,217,219
42,537,096
214.687,025
284.300.146
31,891,200
30,393,142
177.396
22,606.504
83,775
21,927,92S
—
(Aaaet)
Assets uot available-
Minor coin
Subsidiary silver coin..
Aggregate net Asset.
54,578,100
iHH
1891.
Q.-M.
1907. Q.-J.
4s
4s refd^eertf
Q.-J.
Se,
pension ..
RRs..
Pacific
Amount
Inter't
J.4J.
J.&J.
Aggregate
RegtstereA.
8,099,342
823,117'84,485,263
22,491,298
1,103, 619
8,141
2,427,400
1,939,789
60,830,314
Outstanding.
Coupon.
i
t
Int. Du« Aceruti
ScUnpaH. Interest
Total.
%
03,644,100
t
24,325,300
t
117,989,400
201.614
t
884,770
534,221,%0
88,026,650
1,254.868
2,074.161
•94.623.512
622.248,400
109,650
14,000,000
•64.623,512
692,489,482 112,351 ,85C
813,960,962
1 749,81
I
365
47,150
35,WK
S 10,001
323,117
36,171
3,317,414
$2303,000 matures Jan. 16, 1895; 1640,000 Not. 1. 1896; average date of
matarlty, March 19, 1896 $3,680,000 Jan. 1. 1896, 14,320,000 Feb. 1. 1896
average date of maturity, Jan. 18, 1896 $9,712,000 Jan. 1, 1897 $29,904,992 Jan.
1,1886: $14,004,S«0 Ian. 1 1809.
;
;
;
;
DKBT ON WHICH INTBRE3T HAS CBA8ED 8INCB MATURITY.
Aggregate of debt on which Interest has ceased since maturity Is $1,841,315;
Interest due and unpaid thereon, $151,113. This debt consists of a number of
Hems of which the principal amounts are called bonds.
DBBT BUAUINU NO 1NTBUB8T.
Amount.
Old demand notes
LSffal-tender notes
Certificates of deposit
Less amount held In Treasurer's casta..
From our own correspondent.
London, Saturday, January
]
35, 1890.
oif
m
to i%
to 4i^ per cent, now it is from
brokers and discount houses hope that next
week will see a fall in the rate of interest. On Monday or
Tuesday a million sterling coming from St. Petersburg is
expected to be sent into the Bank of England, and nearly a
million more is expected to return in coin and notes from the
circulation, while on Saturday next the Chancellor of the
Exchequer it is believed will pay off treasury bills exceeding
a million and a quarter sterling. From all this there is
expected to be a large increase in the supply in the outside
week
it fell
bill
$56,442
346,681,( 16
11,720,000
90,000169.110.039
the other hand, as already stated, nearly a million sterowing by the market to the Bank of
still
is
England. The revenue receipts exceed two millions sterling
ling
•
Gold certificates
28,940,707
1,761,459
On
1890.
The following is the official statement of the public debt
the close of business January 31, 1890.
INTKRBST-BBABINO DEBT.
P'B'We
6,927
market.
DEBT STATEMENT JANUARY 31,
Character of
UtMt.
rate
per cent. The
?,355,27(:
(I,iaWJi(t()l.
Balances
438,409
4C5.481
9,367
159,552
8,173.808
the latter being the charge of the Bank of England. It would
appear from Thursday's bank return that during the week
ended Wednesday night the outside market repaid to the Bank
in the
963,61:
3,984,960
Total
12,200.972
1
9.852; 2,43«,787
sterling.
Consequently a little less
than a million remains due.
At the same time the rate of discount has declined. Early
2,220
666,98^
Treaaurer'a tranaf 'rch'kt
and drafta outstanding.
Treasurer U.S., aifcnt f oi
paying int. on D.Col.bd^
26.928,980
4,83i,037
3.753.495
somewhat over a million
Fractional silver coin re-
account
$
t
6,960.488
interest for short loans has been well maintained
throughout the week, ranging from about Sij to 7 per cent;
The
5.773,589
6.196,804
28,773,778
demption account
Redemption and exch'ge
Balance
Bycasli pay- of Intercut
paid try
nVts: 5 p. c.
net earnings. the V. 8.
Pacflc.
68,831,221
.
Currency and minor coin
redemption account
Transportation
658,853
8,000
64,628,512
by Companies.
By
Service.
$
$
1 29,4?5 33,547,752
31,515 8,587,503
136,182!35,f80,090
1,628,380
11,525,662
....
100,000,000
Disbnrs'g Officers'bHl'ces.
Undistrib'd ass'ta of fail'd
National banks
.
the V. S.
yet paid.
6,303,000
4 P.
paid by
580,376
6,826,645
D'btJiint.net{L««M'itl/)
Bes'veforred. IJ .8. notes. 100,000,001
Fund held for redemp. ol
67,195,913
notes of Nat. Banks
Five p. c. f 'nd for redemp.
5,476,756
of Nat. Bank notes
Net res'rvea.l-Liabiiityj
Post office dep't account.
12.246.895
35.939.60a
The sinking funds held ($11,641,650 bonds and $36,701 cash) $11,673,351, ol
which $3,468,824 was on account of Central Pacific and $M,810,027 on account c i
8,160
78,469
staniinQ.
Unl'n Pacific 27,28«,618
Cen.Br. U.P. 1,600.000
West. Pacific 1,970,560
'i3T,893^8S
177,390
964,192
151,9^7
"234,382
1,052,952,911
Interest
accrued
and not
OuU
Kan. Pacific.
1,386
Debt and inter*st.(^8<6C)
Principal
Cen. Pacific. 25,885,120
Irt3,2a3
151,UU
bonds and inte'at.
lnt,ch*cks St, coupons p'd
31.394,200
Int. repaid
Interest
of Railway.
,844,620
8.
1,040,707,018
Name
doe, nnnaid
Acc'dint.,Pac. RK.b'd!
U.
Debt, less cash In the Treasury, February 1, 1800.
Debt, leaa casta in ttae Treasury, January 1, 1890
PACIFIC RAILROADS.
1.713,632
2,«fcl,8M
1,841,345
Inter't on mattu'ed debt
Debt beari dk nu tnter'st
Int. OQ Puc. UR. bonds
$638,679,967
1,0-2.601.816
.
>M6,38l,^^•'i
Balances... .(Aeeet
Dbbt and Int.—
PtTBLic
1,611,281,183
Total debt, less available cash Items
."^et cash in the Treasury
10,240,967
11,720,000
UO.OQO
lt>.236,a24
5,218.345
Decrease of debt dnringthe month
Decrease of debt since June 30. 18^9
17,380,815
net silver in treas y
(Asset)
0. States notea
Certifleatea Issued
Certificates on band....
824.018.188
1.992,464
Less cash Items available for reduction of the debt...l433,679.>'67
100,000,000
Less reserve held for redemption of U. 8. notes
177,3:6,885
Net Kold In treasDry
BlI^TSR— DoUars,8tand'rd
151,118
786.270,630
I,«09.0e2.8i8
Total debt
Gou>—Coin.
$
5,067.226
818.950.962
1.841.315
785.270,580
Debt on which int. has ceased..
Debt bearing no interest
LiaiMUU:
Uabimia.
Interest.
Sl, 1889.
Intereet-taearlng debt
Au€U and
$20,452,870- $lS-i,e57,ie9
284.585.889
3.254,118- 281,331,771
15,290.066
8,375,934—
6.M4,132
Less amount held In Treasurer's cash
The following statement for January from the office of
the
the Treasurer was issued this week. It is based upon
and
actual returns from Assistant Treasurers, depositaries
superintendents of mints and assay offices, and sliows the
condition of the United States Treasury January 31; we
give the figures for December 81 for comparison:
JANUABY
L.
11,630,00'
a week, and on Tuesday the fortnightly Stock Exchange
settlement begins. That may cause some fresh demand for
loans, but probably not much, for during the fortnight the
weaker speculators have been selling, and it is said that
accounts which previously were carried over in London have
now been transferred to other countries. Particularly it is
reoorted that very large" accounts have been transferred to
New York. The course of the market under these circumstances will be determined by the action of the Bank of England. If it borrows a large amount in the outside market it
will retain control. If it does not, there is almost sure to be a
fall in rates.
But if the fall takes place, it does not appear likely that
lower rates will be long maintained, for the 6 per cent rate has
completely failed to attract gold. During the four weeks that it
has ruled, only £92,000 of the metal has been attracted from
abroad, while £100,000 has been withdrawn. The increase in
the Bank reserve, therefore, is entirely due to the return of
coin and notes from the internal circulation. As these will go
out again in April and May it is natural there should be a constant fear on the part of operators that they may be surprised
Fkbeuaey
8,
by another sharp
THE
18; O.J
rise in rates.
It is
CHROlSiCLE.
true that a million ster-
being brought from St. Petersburg, but that is an artificial operation.
The Russian Government has just concluded
a contract with a syndicate of bankers in Paris for the conversion of three of its 5 per cent loans, and to insure the success
of the operation it has consented to part with a million sterling held by the Imperial Bank of Russia.
Early in the week there was a sharp fall in silver, from
44Jgd. to 44%d. per oz. There has since, however, been a recovery to 44 9-16d. per oz. There has been no further change
in the discount rates of the Bengal and Bombay banks, and
apparently the large remittances of silver of late have somewhat eased the market. Still the expectation of the Indian
banks is that there will be a further recovery in the metal.
In India there has been this week an advance in the 4 per cent
rupee paper. The cause is said to be a report that the Government intends to increase the deposits of Government
bonds, which are held as a security for the note circulation,
as the latter is increasing just now rapidly.
The buying of investment securities is not as large as it
usually is in the latter part of January. This is not to bo
wondered at, since better interest can be obtained by lodging
money on detx)sit with bankers than is yielded by what are
here looked upon as really sound investments. Besides, it is
understood that capitalists are withdrawing capital from investment in stocks to meet the increased demand of trade.
And, lastly, there is some disappointment felt at the railway
dividends yet announced. To be sure, they are almost all of
them considerably higher than those of a year ago, but they are
not as good as operators generally expected. It appears that
the rLse in wages and materials told more heavily upon the
companies than was supposed. In the current year the increase in the working expenses from this cause wUl be far
greater. At the meeting of the shareholders of the London
Brighton & South Coast Railway Company on Wednesday,
the Chairman said that he estimated the increase in the working expenses this year would amount to about £50,000, or
say £1,000 per week. In other words, the company must
earn £1,000 a week more than it did last year merely to maintain last year's dividend.
This would be equal to an increase
over last year's increase in the earnings of about 38J^ per
cent.
The London & Brighton Company, it is true, serves
the South of England, and our coal-fields are all in the North.
Therefore the cost of coal is naturally greater to the Brighton
Company than to most of our lines, but, on the other hand,
the rise in wages will probably be greater in the North than
in the South of England, the North being the seat of our
principal manufactures. In consequence of this and the uncertainty of the money market there has been continued
selling of British railway stocks throughout the week, and
prices are all lower. The selUng, too, it is thought, is likely
to be kept up.
ling
is
The suspension of speculative business continues, owing to
the fear that the rates charged to the Stock Exchange next
week will again be very heavy. Besides, the uncertainties of
money market are bringing home to over-sanguine opera-
the
tors the conviction that too many doubtful loans and companies have been floated here of late; and the apprehension
that railway working expenses will now largely increase is
discouraging business in that department.
The American
Idt
of 50 per cent and a reduction of the working day to eight
hours. The employers declare these demands extravagant,
and it is feared that there may be another strike. As the
speculation in mining shares of all kinds has been utterly wild
two this may cause serious trouble. It is hoped!
for a year or
may
averted by the intervention of
be true, as is reported, that the
is about to begin the conversion of
Prussian consols, the market may be encouraged, and there
may be a fresh stimulus given to speculation. Lastly, the
political and financial condition of both Spain and Portugal is
disquieting. Sefior Sagasta has at length formed a new Cabinet, but few are sanguine enough to believe that it will last
very long.
Yet it looks as though there were about to be much more
active business in Paris. The Russian Government has just
contracted for a new loan of 20 millions sterling, 14 millions
to be applied to the conversion of 5 per cent loans and the remainder to be a fresh advance. The operation will g^ve it
nearly 5J^ millions sterling of new money at an additional
interest charge of
only £100,000 a year.
It
is
understood that the loan has been taken firm by a group
the
head of which are the Crfidi*
of bankers at
Lyonnais and the Banque de Paris et des Pays Bab*
Messrs. Rothschild refuse to take part in the operation, and
this will be an obstacle to its success, especially as the Banque
de Paris is rather discredited by its supposed losses from the
copper cras^ and the Brazilian revolution. But no doubt the
loan will be placed somehow. Then, preparations are being
made for a great French funding loan in which all the great
French houses will co-operate. And it is understood that the
Finance Minister will early next month introduce a bUl for
renewing the charter of the Bank of France. The Government is to obtain a share in the profits, and, on the other
hand, the Bank is to be allowed to double the number of its
shares by dividing each existing one into two. This is
expected to lead to a great rise in the Bank's shares. Lastly,
it is reported that the French Government is now more willing
than it has been hitherto to assent to the conversion of the
Egyptian preference debt.
The stringency in the money market is putting a stop to
speculation in trade. The rates charged to operators in the
iron market have been so onerous of late that the price of iron
keeps on falling. This week the decline has been about one
and sixpence per ton. Further, the price of Middlesborough
iron is once more below that of Scotch, which is the normal
condition of the market. But as yet legitimate trade does not
seem to have been much interfered with, though if the dearness of money continues all kinds of business must suffer.
The railway traffic returns show for the most part handsome
increases over those of twelve months ago, and the reports
from the great centres of manufacture are favorable. In raw
cotton there is a further advance this week. The price is now
nearly ^d. per lb. higher than at this time last year. The.
belief here is that the American crop will prove to be consid
erably smaller than quite lately it was supposed to be.
The wheat market remains quiet but fairly firm. The
weather continues mild and the receipts are good.
however, that a strike
and
Prussian Government
the Government,
The
rates for
if
lie
it
money have been
as follows;
Interett allovieii
Open market ratet.
market, moreover, is still under the influence of the disapfor deponti ^I/
pointment caused by the non-payment of the interest on the
Trade BittM.
Ditc't H'tt
Condon
Joint
first income bonds of the Reading Company.
Over and above
Three
your
is<x
Four
Three
Six
Stock At 7 to 14
all this the news from Rio de Janeiro is far from encouraging,
Monthe Month* Months Months Month* Mont
Banks. Call. Dayr,
and leads people to expect a further fall in Brazilian securi3 \3ii-3H
<Ha
3H« - 8Ma-4 e4H 4 «4Vi 4
3 \SH-SH
ties.
The crisis iii Buenos Ayres, too, grows more acute. AcSHA* 3>iS4 sftn 4 «4k|4 amli ®4^
4 uH-m
4
*«« 4Ma
cording to the latest mail news borrowers in good credit were J*n.
4 4X4X
4
<«9 -*H«
-4>aa
4>aa — ;4*<i5 !4HS5
4Ha paying 5 per cent per month, and at the liquidation at the end
5 «
4«* -4}<« -5 ftSW 4M»Mi4W«8« 4
4
4«a- 4XfS— 4 a — iJi'SS iMiitS U^as
4M *H-*H
of November it is alleged that most brokers were unable to
pay their differences. In many cases they were accused of
Messrs. Pixley &AbeLl write as follows
actual dishonesty, and so loud was the outcry that two officials
Gold—There have been no Inquiries for gold, and the Bank has revisited the Bourse, and after inspection of the books ordered ceived all arrival-", amounting to «'. 7,000. No withdrawals have taken
the arrest of more than a dozen brokers for fraudulent bank- place. Arrivals- From Chile, *24,OOC; New York. £1,000; Sydney
West Indies, *5P,000; Buenog Ayres, £10.000; China, *7,000j'
ruptcy. The brokers, however, were quickly released by the «6,000;
Natal, £24,C00; New Zealand, £i:i,000-total, £135,000.
Court on the ground that they had not been adjudged guilty
Silver— With a good demand and tlrm Indian exchanges silver rose to
by a competent tribunal, and that, therefore, the arrests were il'ed. on the 18tb. The following week, owing to the large amounts
illegal.
But the general suspicion appears to have been that eontnually being pressed for pale, a rapid decline ensued to 44%d. ToChile, £44,.the authorities were afraid of an inquiry lest it might cause a day the market is again Qrmer at 449ia. Arrivals— From
000; New York, £6!»,000; West Indies, £9.000— total, £12-2.000. Ship.
panic.
ments— To Bombay. £50,000; Calcutta, £15,000.
The situation in Berlin also remains a source of anxiety.
Mexican Dollars— Have moved In si nipafliy with sliver, and may
nnwbequot.
at J.S'ad. nearest. Arrivals- From New York, £4,000
The miners in Westphalia are demanding an advance of wages West Indies, d£10,000.
ti
@m
-
m®
-
:
THE CHRONICLR
19B
position of the
The following return shows the
Bank
of
England, the Bank rate of discount, the price of consols, &c.,
compared with the last three years:
180O.
18S9.
1888.
£
£
£
Cironlatton
Fablto deposits
OUier
depoftits
Qovemraent
securities
Other securttlcs
Rcaerre
<^otn and bullion
Prop, assets to
liabilities
Bank rate
.
1887.
£
23,«e,190 28.4«8,465
5,977,80*
22,83S,458
4,809,471
4,721,896
3,702,937
25,411,540
26,930,192
23,510,610
Bidlan
fiour
13,873,789
the coinage at the Mints of the United States during the
21,337,768
20,830,109
of
3»«
45%
im
S«
8
47
6
1887
8.
188e-7.
18,704,682
9,702,676
6,453,290
97'' ,798
977,933
9,165,253
6,122,901
14 257,033
1887-8.
19,662,750
7,524,276
17,105,541
1886-7.
18,704,982
6,122,901
14,549,088
46,799,319
44,292,567
39,376,971
1883
1887
26,4(i5,f-76
6,1?6,640
30b.
328.
9.
2d.
31.
1SS6-7.
36«. 41
823 4d.
8.
308. lid.
SOs. 11
following shows the quantities of wheat, flour tod
the United Kingdom:
ih'aize afloat to
ars.
Latt wtek.
1,842,500
236,000
380,000
412,000
January.
Denomination,
Donble eagles..
Eagles
Half eagles
iMtuton.
d.
peroE
OonsolB.new 2%i perots.
do for account
lyob rentes
(In Paris) fr.
8. 4issof 1891
8. 4s of 1907
Canadian Piicllio
CWo. Mil. & St. Paul....
nUnola Central
Lake Sboro
U.
W.
touiavllie* NashvlUe..
Mexican Central 48
N.Y. Central & Hudson.
N.Y. Lake Erie & West'n
Xon.
1839.
2,209,500
185,000
279,000
Tua.
Wed.
44%
446,8
441a
441a
976,8
971,8
971,8
973,8
971
07»8
979,6
971a
1,
t<770 87-65 87-85 87-75
10678 lOG^a
106% 106%
126% 12638 125% 125%
773^
76%
76%
767a
71 14
7058
72
71%
122
I2214 122 12
1221a
108^ 108% 1031a loss's
91ig
90 14
9014
90%
7238
7218
7178
72
109
109
1091a 10938
2778
2708
28
27%
104
104
cnns
Norfolk A Western, pref. 6J=8
Northern Pacific, pref.. 7712
Pennsylvania
561a
FUladelplUa & Beading. 20
Union PaciHc
69%
Wabash, pref
331a
do.
2i1
9439
771a
5612
2014
69»8
3314
&0mmtvciRl mid
1338.
1,200,500
161. Olio
3,000,000
Total silver..
3,000,000
3,000,000
1,509,400
Five centa
Three cents
.iii;;.'
75,470
..i.ij.
One cent
Total minor
...
Total oolnaee.
6,12i',000
5ii210
6,630,4C0
126,680
9.822,620
6,401,280
GtoVEKNMENT REVENUE AND EXPENDlTOKES.— Through the
courtesy of the Secretary of the Treasury, we are enabled
to place before our readers to-day the details of Government receipts and disbursements for the month of January.
From previous returns we obtain the figures for previous
months, and in that manner complete the statement since
the beginning of the fiscal years 1889-90 and 1838-89.
BECEIPTS (OOOs omitted).
1889-90.
Thurt.
106%
125%
106%
125%
7658
7138
12214
761a
7116
198 '8
9II4
72
109
OlMtoms.
IrOr
Fri.
445,8
443a
97 la
973,0
979i«
971a
87-6212 87-62ia
Aujmst
September
Ootober
November
Deoember
Janaary
Total 7 months
'
mter't MUc'U Total.
Rev^ue Sowrc'»
*
19,006
21,518
17,779
18,788
16,615
I
10,899
12,395
11,448
11,617
11,159
15,926
21,743
11,004
131.37-3
78.556
Ou»-
InterH
tojns.
Rev^tu
Sov/rc^i
t
9,553
10,832
10,26a
*
2,154
~T~ ~r~
t
1,981
31.886
19,498
2,321
2,189
2,847
2,948
38.234
31,116
33,050
30,717
2,866
29,593
21.968
13,984
18,787
15,285
16,940
2,881
34.861
20,533
10,797
17,631 227,559
131,995
74,424
10,034
12,381
8,028
2,452
3,255
10,393
2,912
10,426
2,794
2,747
18,33-;
t
81,209
34,623
31,698
34.403
28,590
30,160
34.077
221,756
DISBURSEMENTS (OOOs Omitted).
122
10858
91%
7178
109
2658
103%
103%
103%
63%
6438
6418
64
77
77 14
76%
5OI3
20=8
565a
2078
5612
761a
56I4
69
69%
327e
3338
6858
3314
20%
21%
68%
33%
W^isuXlmxiixixxs %%txv3
—
National Banks. The following national banks have
recently been organized :
4,218— Tlie National Howard Bank of Baltimore, Maryland. Capital,
$20J,000. Jolin K. Hooper, President; Tliomas P. Amos3,
Cashier.
Piist National Bank of St. Marys, Ohio. Capital, $60,000.
Edw-vid M. Piper, President; O. E. Dunan, Cashier.
4,220—The First National Bank ot Bessemer, Alabama. Capital,
$50,000. Chouet Berney, President; T. J. Cornwall, Cashier.
4,221— The Plr^t National of Manchester. Iowa. Capital, $50,000. A.
R. Loomlf, President M. F. LeRoy, Cashier.
4,222—The Pennsylv <nia National Bank of Pittsburg, Pennsylvania.
Capital. $200,000. A. 8. M. Morgan, Presideiit K. M. Davis,
4,219—The
;
;
Oashi-r.
ot Poland, New York. Capital, $50,000. M.
A. Blue, President; Charles 8. MillinKton. C isbler.
4,224— The First National Bank ot Puyallup, Washington. Capital,
$50,0;)0. Harry M. Ball, President; H. 8. Martin. Cashier.
4,225— The Peiroe City National Bank, Missouri. Capita', $50,000.
John D. 8ooti, President; Louis A, Chapmiin, Cashier.
4,226—The Firnt National Bank of Alliano'e, Nebraska. Capital,
$50,f'00. O. M. Carter, President E. M. Hampton, CaRhier.
2,304—The Mer-handise National Bank of Boston. M:a3saohuse[ts.
name chaime 1 January 23, 1890, to the Win hiop National
Bank of Bost jn, Massachusetts.
4,223—The National Bank
;
Bonds Held by National Banks.—The following
3,274,600
339.000
27%
104
192,220
Dimes
Ordinary.
interest-
ing statement, furnished by the Comptroller of the Currency
hows the amount of each class of bonds held against national
bank circulation and to secure public moneys in national bank
We gave the statement for
depositaries on February 1,
1 in Chboniclb of Januarv 11, page 62, and by
referring to that the changes made during the month can be
seen.
Pen-
In-
sions. terest.
~i~
Jnlr....
Aug....,
Sept....
Got
Nov
Dec...
Jan
January
2,704,800
569,800
3,000,000
Total gold
Standard dollars.
Half dollars
Qnarter dollars..
The daily closing quotations for securities, &c., at London
are reported by cable as follows for the week ending Feb. 7 :
Bllver,
135.240
56,980
ollars
Xoslish Financial markets— Per Cable.
Sat.
Value,
Piecet.
95,703,000
Three dollars...
Buarter eagles
1888-9.
Od.
month
January, 1890.
99>«
1888-9.
50,982,492
18?9-90.
Aver, price wheat week. 3< s. 2d.
Maize-..
$177,991,750
21,238.292
Total
Thit weefc.
$142,266,750
19,241,317
1);
qra. 1,801,000
282,000
Flour, equal to irs.
$35.725,000
18,778,522
6
Wheat
TaM...
Coinage by United States Mints.— The following state
ment, kindly furnished us by the Director of the Mint, shows
14,069,293
IH 89-90.
I?i>portBOlwheat.owt. 23,056,661
rS orts of Hour ...... 6;904;417
Sales of lunue-KTOwn. 21,021,414
The
$C,101,OCO
48,120.350
123,770,400
13,998,102
Supplies available for consumption (exclusive of stocks on
'
$4,935,000
40,190.850
97,140,9^0
11,681,327
139,0t8.000; 133,917,000 102,220,000
Ay- price wlieat season. 30s.
$1,166,000
7,929,500
26,629,500
Currency 68..
i>i per cents,
t per cents...,
13,081,805
26,405.676 19,662,7.50
8,021,719
9,909,745
6,878,490
7,025,573
1,420,439
867,256
946,862
3.113,777
],466,.537
9,232,955
9,066,463
11,492,985
7,524,276
6,136,640
6,901,417
September
Total Held.
Circulation,
19,303.667
1889-90.
OWt. 23,050,861
7,958,643
6,801,486
703,743
com
Beewn—
15,361.348
compared with previous seasons;
*ea8
to
10,986,149
The following shows the imports of cereal produce into the
United Kingdom during the first twenty weeks of the season
Beans
1890,
14,561,197
97 8-16
Oats..
1,
Bank
14,623,280
Consols
Barley
Bondt Beld Feh.
Pubiie Deporils
in Bank*.
a),81e.3M
per cent
Wheat
U. 8.
Dtieriplion of Sondt.
23,706,820
aS.8«0,020
.per cent.
aearlns-Uousc return
rvoL. L,
7mos.
18,277
11,999
18.431
15,480
11,820
Premr
Ordinary.
8,175
298
612
8,738
201
1,50«
2.273
4,894
6,133
2,292
10,778
774
2,165
10,32-2
1,462
15,880
2,17d'
7,916
2,693
2,08«
Pen-
Inr
Prem-
sions.
terest.
^ums.
~~f~
t
15,248
20,0S«
11,344
97.831
Total.
'urns.
41,998
86,388
17,411
28,599
25,335
25,821
27,858
63.456'26.578 15.515 303.410
12,651
10,980
10,984
17,174
13,261
12,488
15,433
92.1)491
*
$
14.654
8,779|
157
9,474
439,
1,803
891
2,696
S,079
4,210: 6,707
4,519
617
l,OS-i
2,149
2.185! 8,285
512
631
21,487i
70(01.
~"$~
38,141
22,196
19,530
32,810
36,387
16,220
28,554
62.874 29.572 13,253 188,648
Changes uj Legal Tenders and National Bank Notes to
Feb, 1.— The Comptroller of the Currency has furnished
us the following, showing the amounts of national bank notes
January 1, together with the amounts outstanding February 1, and the increase or decrease during the month; also
the changes in legal tenders held for the redemption of bank
notes up to February 1:
national Bank Notes—
Amount outstanding Jauuai'y 1, 1890
Amoimt issued during January
$197,078,918
$542,205
Amoifnt retired during January
Amoimt outstanding February
3,127,551
1,
1890
2,585,346
$194,493,572
*.
Legal Tender Notes—
Amount on deposit to redeem national bank
notes January
1,
Amount on
$69,336,478
1890
Amount deposited during January
Amount reissued & b'nk notes retir'd In Jan
$1,537,615
3,127,551
1,589,936
deposit to redeem national bank
if67,746.542
notes Feb'uary 1. 1890
Circulation of national sold banks, not moluded auoye, itil48,717.
According to the above, the amount of legal tenders on
deposit Feb. 1 with the Treasurer of the United States to
eaeem national bank notes was 167,746,543. The portion of
this deposit made (1) by banks becoming insolvent, (3) by
banks going into voluntary liquidation, and (3) by banks reducing or retiring their circulation, was as follows on the first
of each of the last five months
*
Febbuabt
THE CHRONICLE.
1890]
8,
197
A Ohio Canal (IWd.).—A dispatch from AnnapMd., Feb. 6, said: "The long contest over the Che8ai>eake
Ohio Canal now seems likely to end in the Western MaryS45.328 &
897,921
iDSOlv't bkn.
871,715
847,983
5,852.391 5,797,189 land Railroad obtaining possession of it, to be utilized as a short
Uqnld'Kbks. 6,106,071 6,062,110 5,931,481
Bed'c'ft undr
route for that company from the coal fields of West Virginia
act of '74.* 65,241,612 64,749,385 63,273,917 62,614,625 61,104,025 and Western Maryland to tidewater.
The Btate Board of
Tote).
72,279,398 71,659,478 70,103,319 69,336,478 67,746,542 Public Works today opened bids for the sale or lease of the
canal. The only bid made was by the Washington & Cum* Aet Of June 20. 1874, and July 12. 1882.
berland Railroad Company, a proposed branch of the Western
IifPOKTs AND Exports for the Wbek.— The imports of Maryland Company, which proposes to lease the canal and all
last week, compared with those of the preceding weeit, show its lands and franchises for ninety-nine years, renewable foran increase in both dry goods and general merchandise. The ever; the I^egislature to agree to the construction on tho towtotal imports were $9,918,563, against $9,024,806 the preceding path or bed of the canal of a railroad from Cumberland to
week and $8,419,776 two weeks previous. The exports for Washington, and in consideration of this the railroad to pay
the week ended February 4 amounted to $7,164,963, against within SIX months to the State Treasurer a sum equal to the
$6,343,554 last week and $7,456,393 two weeks previous. The principal and interest of the repair t)onds of 1878, to be applied
following are the imports at New York for the week ending on the purchase of these bonds. The railroad company also
(for dry goods) Jan. 30 and for the week ending (for genersu agrees to pay $70,000 of outstanding claims for labor and materials between 1877 and 1890.
Also to pay $.30,000, the
merchandise) Jan. 81
also totals since the beginning of the
amount of the judgments and interest recovered in the Circuit
first week in January.
Court of Alleghany County against the canal; also to pay to
FOBEION ntPOBTS AT NEW TOKE.
the State withm six months a sum equal to 85 jjer cent of the
principal of the bonds issued by the canal under the act of
For Wttk.
1887.
1888.
1889.
18b0.
1844, the preferred bonds of 1844, which now amoimt to
Dl^ Goods
$3,320,601
*3, 137,005
¥3,836.818
{3,493,600 $1,699,500. This sura, $424,875, is to be applied to the payment
Cton'l mer'dtse.
5,585,4i)0
5,922,5511
^361,224
6,424,963 of the bondholders pro rata.
The lease is also to provide that
the Washington & Cumberland Road is not to be lea-sed to the
Total
?8,906,091
$9,059,556, $12,198,072
$9,918,563
Anee Jan. 1,
Baltimore & Ohio Railroad. The road, when completed, is to
Dry Goods
$14,480,305 S15.530.747 $15.''84,160 $16,506,805 pay the State $15,000 annually. The Governor, in a special
e«ii'l mer'dlse.
27,361,063
30,750,101
34,072,381
30,020,632 message to the House, urges the aoo^tanoe of this proposiDepottUby—
Oel.
Dte.
Ifov. 1.
1.
/an.
1.
Chesapeake
Feb. 1.
1.
olis,
9
9
9
9
9
860,462
;
Sotal.S weeks.
$41,841,368
$46.280,848
$50,056,544
$46,587,437
tion."
Union Paciflc Denver A Galf— Denver Texas & Fort
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the Worth.— Holders of the certificates of the latter must have
them stamped at the MercantUe Trust Company before tJie
week ending February 4 and from January 1 to date
:
BXP0BT8 FBOM
KBW TOBK FOR THB WEEK.
1887.
For the
week...,
188B.
sn.iso.sse
23,650,238
$6,086,608
23,619,678
1889.
1890.
$6,85S,241
27,977,465
15th inst.,,m order to participate in the benefits of the consolidation. At the meeting on the 4th inst. 137,000 siiares w«re
represented, and aU voted in favor Of the proposed consolidation.
$7,164,962
25,589,512
Wheeling & Lake Erie.—The annual meeting of the stockholders of the Wheeling & Lake Erie Railroad Co. was held
Total, 5 weeks.. $27,186,624 $29,706.2861 $34,835,706 $32,754,474 at Toledo Tuesday.
The old Board of Directors was re-elected
The following table shows the exports and imports of specie with the exception of James M. Ham and Eugene Zimmerat tlie port of New York for the week ending February 1 and man, who were succeeded by El)en K. Sibley of H. Q. MarCo. and John Oreenough of Poor
Greenough, Of
since January 1, 1890, and for the corresponding periods in quand
this city.
1889 and 1880
The operations for the seven months to January 31 show as
KXP0BT8 AKD IMPOBTS OF SPECIE AT NEW TOBK.
follows, viz.:
Ttev. reportc>d..
&
&
:
Exportt.
Import*.
eout.
Week.
Great Britain
Fianoe
SinetJan.l
$900
$26,718
1,000
'6,000
101,109
1,500
69,155
$6,900
19,300
528,442
$198,482
995,125
969,685
West Indies
Hextoo
Bouth America.
All other countries.
Total 1890
Total 1889
Total 1888
.
.
.
Exports.
Week.
Great Britain.
.
Germany
17,682
Henco.
South America...
4,844
5,785
53.654
2,200
22.651
93,944
$107,929
7,746
7.825
$853,739
509,390
270,754
800
Since Jan. 1
Week.
TitallSW,
Tota 11889. «...
Xota 11883... ^.
1,351
9,140;
"M80
...
other countries.
16,960
$720,036 $2,642,659
378,754
1,787,310
216,368
1,275,996
Net seven months
Charges seven months
$227,114
87|500
Balance
Dividend 4per cent proportion for seven monilis
f 139,61*
64,269
$35,873,
1,668
14,277!
84,O0O
Surplus
$55,614
On January 1 the company assumed the interest charges oa
the $1,500,000 of 5 per cent Wheeling Division bonds, so that
one month's interest on these bonds—^6,250 must be deducted
which leaves the surplus for the seven months $49,364.
—
United States Sub-Treasury. The following table shows
the receipts and payments at the Sub-Treasury in this city, as
well as the balances in the same, for each day of the week.
$64,757
$9,773
17,682
$162)8415
—
^Sinee Jan.l.
$702,354 $2,604,497
19,000
West Indies...
$681,290
Importt.
Mlvtr,
AU
Since Jan. 1
$96,500
Germany
France.......
Week.
Net July 1 to Novemher 30
Net December and January, estimated
9,773
40,019
2.377
15.882
29,140
$163,305
133,273
140,078
BaUmcet.
Date.
Receipit.
Paj/menti.
Coin,
Coin
Cert'i.i
$
Feb.
1.911,700
2,113.109
2,303,156
2,2 J5,063
2,372,406
2,876,950
Current^'
9
2,284,627 167,485.976
2,265,0561162,498,245
1,605.593 162,598.7.56
1,833,0331162.786,281
2,147,076l 102,849,472
2,399,976, 162,865,034
1
8.019,366!
7,941,785
8,478,109;
8,094,O7S;
8,736,169
9,059,281,
6,288,083
6.231,447
F,232,1U.
6,290,648
6,410,695
6,548.995
Of the above imports for the week in 1890, $5,230 were
Total
13,812,384 12,535,4261
American gold coin and $730 American silver coin. Of the
exports during the same time, $6,000 were American gold
Auction Sales. The following were recently sold at auction
com.
by Messrs. Adrian H. Muller & Son
—
:
Bonda.
Share*.
10 East Side Bank
110
scrip
22»» 100 The Thomson Pulp A Pa$2,000 The ( taten Island Belt
perCo
30
Line RB. Co. let M. 6s,... $900
75 Bank of America
210
Shiret.
10 Hanover NalionnI Bank. 354
20 Manhattan Life Ins. Co.. 455
50 Commercial Nat. BMik...ll04g
40 Madleon Square Bank ...100*4 150 Pbenii: Ins. Co.. lirdokljrulSl
15 Knfckeibocker Trust Co. 173
80 Seattle &. Eastern Con157Ja
7 Ninth National Bank
struction Co (ex div'd.). ee>«
10 Title Guarantee ATr. Co.l.56>a
50 Union Ferry Co
lao
25 Greenwich Fire Ins. Co.. 200
50 The Bute Trust Col77H-185>fl
50Amfrlcan Fire Ins. Co. ...149
5 Columbia Bank
231
4 Park Fire Insurance Co.. 70
15 American Loan A Trust
ICO Tradesiueu's Nat. Bank
9 1 la
Co
U7'4-1W
74 Mechan'c8'Nat.B'k213%-217
$19750 Jefferson T"ire Ins. Co.
Fort Madison
States Court at
Madison
&
& Northwestern.—Judge Love in
Keokuk refused to confirm the sale
the United
of the Fort
Northwestern Railroad because the sum bid, $27,900,
too low. He says if a sum nearer the real value of the
road IS not bid he will order it abandoned and the track
torn up.
was
—The Guarantee Company of North America has issued its
amiual statement, which will be found in this issue of the
CHRONICLE. Tlie statement shows $684,429 assets and total
.
.
xteources of $1,048,429.
-^-Messrs. Jones & Faile, whose card appears in our advertismg columns, announce that they are the New York representatives and correspondents of Messrs. Lamprecht Bros.
&
Co., of Cleveland, Ohio, bankers and dealers
in municipal
bonds. They offer a special list of investments.
gau1it«0
atitl ^ttiatijcial.
Spencer Trask &
Co.,
BANKBR8,
Nos. 1 6 and 1 8 Broad Street, New Tork Oltr—Messrs. A. J. Weil & Co., whose card appears in the
ALBANY. N. Y.: SARATOGA, N. T: PROVIDENCE. R. I.:
OHRONICLE, offer to investors Louisville Evansville & St.
TRANSACT A GENERAI^ BANKIN« BVSINKSS.
LOUJ.S Railway consolidated 5 per cent
AU classes of Beouritles Bought and Sold on Commls.<ilon. Bpedal
bonds. The road is
attention Kiven to Investment Securities. Direct Wire tu each oHoO
earning a good surplus above its charges.
and to Philadelphia, Boston and Chicago.
'JBE
198
CHROMOLE,
:
Februunrj;
The following dividends have recently heen announced
Cent.
&
1>4
ChioaKO & West MichiKan
Cleveland & Plttsb.. miar. (quar.)
Kansas City
Do
Bank
of the
1
1%
& Memphis
Ft. Scott
Payable.
do
Raiikn.
Manbattan Co
1 Mch. 10 to
Mch.
Mch. 15 Feb. 20 to
Feb. 15 Feb. 9 to
1 Feb. 11 to
Mch.
Feb. 15 Feb. 5 to
2
Alton, com. <fe pf. (quar.).
OhlcaRo Burl. & Oiilncy (quar.)..
Chic.
iDayt meiutite.)
I
pre!..
Feb.
Feb.
Mch.
Feb. 14
I
I
Fire lusuraure.
4
aty
New York
3
Sixty J?ay9.
Demand.
4 84
4 88
4 82>4
4 82
5 1939
5 le'e
Paris (francs)
(guilders)
40%
Frankfoit or Bremen (relchmarks)
9478
Amsterdam
Railroads.
'
Prime bankers' sterling bills on London.
Prime conimcrclaV
Documentary commercial
Books doted
When
Per
li.
S5c. premium; bank, $1 premium; St. Louis, 50c. premium;
Chicago, par; San Francisco, sight, 10; tel., 20.
The rates of leading bankers are as follows
'ghz gauliers' ^a^jctte.
DIVIDENDSi
Jfameof Company.
[Vou
Feb..
10 Feb.
4 to Feb.
9
Feb.
10 Feb.
5 to Feb.
9
40%
95%
Coins,
Following are quotations in gold for various coins;
96'8»
Sovereigns
97'»
$4 36 a^i 90 Fine sliver bars..
Napoleons
3 f6 a 3 90 Flvefrancs
X X Relchmarks. 4 74 -» 4 78 Mexican dollars.. — 75 la®
77
25 Pesetas
76»»
4 82 -S 4 87
Do uncommero'l —75 «
Span. Doubloons. 15 56 a 15 70 Peruvian sols
70 ®
72
Mex. Doubloons. 15 55 ®15 63 English silver.... 4 82 ® 4 86
Fine gold bars...
74 »
par 'S^iaprem. U.S. trade dollars
78
—
—
—
3—95
—
—
—
—
—
—
On dem.
United States Bonds. The market for governments has
nHnrellnneona.
Feb. 17 Feb. 9 to Feb. 16 been a trifle firmer the past few days, but the 4s and 4}^s are
1
Erie TelPK'h & Telephone (quar.)
Feb. 10 Feb. 3 to Feb. 10 quoted nearly the same as last Friday. The purcliases of bonds
Prov. A Stou. 8tcaiii»liip (quar.)..
1% Feb. 10 Feb. 6 to Feb. 10 by the Secretary of the Treasury have aggregated $822,700
Whltehroast Fuel (guar.)
since our last report.
WAL.L STREET, FRIDAY, Feb. 7-5 P. M.
The statement for this week is as follows
The week has not developed much animation in financial
toReading
advance
in
remarkable
we
exc«pt
the
tPerOenUHttlsm.
affairs, if
*H Per genu One 1801.
:
is that it takes a week or so for the
breath after such a blow as that of the
Sixth National Bank trouble, which, although it did not cause
any widespread losses, was stiU very bad in its suggestion of
the possibilities of bank manipulation.
The general situation lias not materially changed as regards
the stock market, and the chief source of strength is siiU found
in the large earnings of most of the railroads. The growth in
Biining, manufactures and population has been so large in
some parts of the country that it gives the promise of a rather
permanent cliaracter to the railroad traffic in those sections, which is quite different from a rush of business caused
by a single large crop; the most notable instance of this indus-
day
to
43M.
The
Street to recover
fact
its
development is in the coal and iron mining and manufactures of Tennessee and Alabama, without which the earnNashville and East Tennesings of such roads as Louisville
see couM hardly have shown the improvement that they have.
Tlie Western railroad situation is not quite as promising,
and the reports this week mention a cut in freight rates by
BurUngton & Northern, and also speak of a special rate on
com demanded by the shippers of Nebraska, leading to a reduction of 13^ cents per bushel. It is seldom possible to gauge
the actual weight of these Western reports at first sight, although at the present time it is very well known that the low
market prices of corn and oats are a serious hindrance to
ttie free movement of those cereals.
The prospect of a speedy settlement of M. K. & T. matters,
by reason of the concurrence of the representative of foreign
holders in the Olcott plan, is a good point which came out this
afternoon. Earlier in the week the advance in Burlington &
Quincy dividend to 1J4^, or 5 per cent per annum, more than
balanced the passing of the March dividend on Chicago &
Eastern Illinois preferred.
The open market rates for call loans during the week on
stock and bond collaterals have ranged from 2}4 to 6 per cent,
with 4 per cent as a fair average; to-day the rates were
8J£-4 per cent. Prime commercial paper is quoted at 5ict5^.
The Bank of England weekly statement on Thursday showed
a gain in specie of £363,000, and the percentage of reserve to
liabilities was 44'20, against 4312 last week; the discount rate
remains unchanged at 6 per cent. The Bank of France gained
1,950,000 francs in gold and 2,175,000 francs in silver.
The New York Clearing House banks in their statement of
February 1 showed a decrease in the surplus reserve of §763,
SOO, the total surplus being $14,268,450, against $15,031,650 the
trial
&
previous week.
The following table shows the changes from the previous
week and a comparison with the two preceding years in the
aver ages of the New York Clearing House banks
:
1890.
Fib
Capital
Surplus...
Loans and
1.
Di^r'nc's fr'm
Free Week.
1889.
1888.
teb. 2.
Feb. 4.
862,700 Inc 1,800. 000, 60,,762,700
57 ,620.900 Dec.
89. 600 52 402,600
272,000 Inc 3,088. 4001399; 910,000 362,680.700
3, 337.700 Dee.
177. 300!
4 .709.700
7,614.700
429. 188,600 Inc 5,211, 200 431 .142,100 384.863.700
90. 036.200 Inc. 433, 600 89,,205,600 84,433,000
31, 509,400 Inc. 106, OOOi 37,,473,100 34,386,800
121,,565,600,Iuc
539, 600|l26,,678,700 118.810,700
107,297,150 Inc 1,302, 8001107,,785,525 96,215,925
62,
disc'ts. '404
Circulation
Hot deposits ...
Specie
l«gal tenders..
Reserve held.
Legal reserve
Bnrplns reserve
..
I
14,268.450|Doc.
763,2001 18,89.3,17.^
22.594,775
—
Foreign Kxchan^e. Exchange has been quiet and dull
during the week, the tendency at the close being towards an
easier market, and posted rates were reduced to-day to 4 84
'
and 4 88.
The rates on actual basiness were as
follows, viz. Bankers'
60 days' sterling. 4 83va4 833.^, demand 4 87io4 87i^. Cables
4 88,a4 881^. Commercial bills were 4 82vr 4 83. Continental
bills were: France, 5 21 ix4^@ 5 20=3' and 5 18U<(t5 1734; reich:
Oferinfiii.
Purch'et. PriCM pold.
...
»»3.200
140,000
104«
Monday
163,200
14U,000
Tuesday....
110,100
104«
Wedn'sday.
5,000
100,400
110,100
5,000
lOO.OOo
1045*
10456
85,000
55,000
Wiyi
K73,700
1473.700
lom
datordaj
Tharsday..
B-rlday
Total.
.
..
The closing
413S, 1891.
lias. 1891.
48, 1907
Interest
Ftb.
Periods
1.
...reg. Ci.-Mch.
..
;
$45,000
121
104.000
104,000
124
100.000
100,000
100,000
100.000
121
121
$349,000
$319,000
124
Board have been as follows
Feb.
Feb
Pel).
4.
3.
Feb
Feb.
6.
5.
:
7.
10338 *10338 *103i2 *103J2 'IO312 *103>a
coup. !Q.-Mch. *10458*i04i2*104i2 lOtifi 'lot's *104Ja
"12358 *123"4 2:114 =»*123i4 12314*123%
48,1907
.coup. iQ.- J an '123»8 *123l4 123%*123l4*123»4*123%
6s, our'cv.'95. ...reg. J. & J. '116
i-116
116 *116 i*116
118
6s, our'cy,'96. ...reg. J. & J.i*118
nis •118 'lis 1*118 *118
120
"120 *120 1*120
63, cur'c.v.'97. ...reg. J. & J.!*120
120
123
'123 1*123 '•123
63, cur"*'.; ,'98. ...reg. J. s J.*123
123
•125
'123 1*125
125
*125
68, cur'jy,'93. ...reg. J. & J. 1*125
* This is the price bid at toe morning board
no sale was made.
..
.
...reg. Q.-Jau
.
.
I
;
—
State and Railroad Bouds. The transactions in State
bonds this week at the Board have been very small (though
generally at firm prices), except Tenn. Settlement 3s, of which
there were sales of §130,000 at 74(g743^. The only other sales
were $2,000 Ark. 63 fund, at 17, $10,000 No. Car. cons. 4s at 97,
$11,000 So. Car.
f undable at 43^.
Brown
consols at 102;!^ and $10,000 non-
Railroad bonds have continued strong on a good business,
well distributed, prices in most cases being higher than when
we last wrote. The more active issues were the Tex.
Pacifies, M. K.
T. rights, M. L. S.
W. exten. ,5s, M. O. gen
erals, Wabash 2ds and Lou. Southerns, and the larger advances
were made in Green B. Win.
St. Paul incomes, N. Y. City
& No. 2ds and Shen. Valley generals.
&
&
&
&
&
—
Railroad and Miscellane us Stocks. The stock market
been iiregular this week, on a fairly active business.
There has been considerable bear pressure at times and the
majority of traders seemed to be on the short side.
The coal st<jcks, particularly D. L. & W. and Phil. & Read.
liave been active, tlie former early in the week on the report
that a large amount of the stock had been accumulated by a
bull clique, and the latter on buying apparently by the Wormser interest and on the report that considerable stock had been
acquired by a syndicate opposed to the Corbin management.
But to-day the large advance in Reading stock to 435^ was not
accounted for except on the covering of shorts. D. L. & W.
closed today at 137}^, against 136?^ last Friday, and P. & R. at
431^ against 391^. Chicago & East. 111., on reports of the passing of the preferred dividend made a further break on Monday to 363^ for the common and 70 for the preferred, but recovered part of the decline later in the week, and closes at 29 for
the common and 72i^ for the preferred, against 32>^ and
Rock Island fell off on the rumors of
80 last Friday.
an issue of new stock, &c., &c., all of which were promptly
denied by President Cable.
'The most important mfluence,
however, was the announcement by the C. B. & No. of a reduction next week in freight rates from Chicago to St. Paul,
and Rock I. stock sold down to 93}^^ on Wednesday,
lias
decline, and
of
the
Qiiincy's
the Bur.
quarterly dividend to 1}|^ per cent had a good effect
Iron broke on
on the entire market.
Tenn. Coal
Tuesday to 803^ on active selling, but closes to-day at 85
Iron was active
against 853^ last Friday. Colorado Coal
and advanced to-day to 513^. The market was active and dewith
Lake
Shore up to
cidedly strong in the last hour to-day,
1065g', Missouri Pacific 75^, Lackawanna 1371^ and Reading
but
lias
closes
at
since
9353'.
recovered
The
part
advance
&
in
&
&
43Vi.
Trust stocks have been active for Sugar and Lead at irregular
prices, Sugar dropping to 5632 on selling, as reported, by "inLead
siders," and closing at 5Q%, against 64 last Friday.
closes at 193^ against 213^ last Friday, and the publication of
marks, 943^^5 94?a' and
The following were the rates of domestic exchange on New
York at the under-mentioned cities to-day: Savannah, buying the report and proposed reduction
par, selling %'ai^ premium
New Orleans, commercial, well received.
95i^'3>953^.
PriCM paid.
$45,000
1049«
prices at the N. Y.
1
0/eringt. Purelt'et.
in capitalization
seem
to be
Fkbbuakt
18S0
8,
THE CHRONICLK
J
SrOCKS-PRICES AT
N. Y.
STOCKS.
Aetlvp l(R. Stocks.
& Santa Fe...
FEBRUARY
STOCK EXCHANUE FOB WEEK ENDINU
HIGHEST AND LOWEST PBIOE8
Monday,
Saturday,
Feb. 1.
Feb.
Wednead»y,
Tiieaday,
3.
Feb.
32i«
3179
Feb.
4.
5.
199
Caimdlaii
I'iicillc
3218
Thnrsday,
Fob.
6.
55
<fc
102 104
102 104
Kaahv.ChattanoogaA St. Louis 104 104
103
New York Central & Hudson. 10638 106% 106 5h 106=8 10678 1067e 107
New York Chic. & St.
Do
Do
*17i2
•7OI2
Louis. .
1st pref.
2d pref.
•38 13
2714
New York Lake Erie &. West'n
Do
pref.
New York & New England
New York Ontario & West
New York Susquehan. & West.
Do
Do
4Sis
I9I2
«7i2
31
•21%
32=8
751s
Do
pref
Ohio & Mississippi
Oregon Sh. L. AUtah
cS
*21i2
North..
Trans-Continental..
Peoria Decatur &Evansville.
Phlla.& Read. Vot. Trust. Cert
KichmondifeWestP'tTermlna'
& San Francisco
Louis
Do
Do
Bt.
Paul
<&
pref
Paul Minnea. & Manitoba.
Southern Pacilic Co
Texas
&
Pacific
M
Ann Arbor&N.
71
71
3914
3914
27%
27% 27%
4914
191s
48
19
3114
221a
31
32iS8
75S8
Union Pa cine
Wabash, new
Wabash, preferretl
Wheeling & Lake Erie
pref.
•21%
62%
32I4
747e
20
20
3914
231a
*79
39^8
23^8
791a
39%
1C8
17
38I3
67% 68
13% 13%
Do
do
Wisconsin Central Co
7%
2238
77%
104% 106
•16% 18
105
'38
•83
*32
•83
39
93
.S4
111% 113
34%
21% 22
'35'^ 36%
67I4 68%
13% 13%
29
2918
28%
2858
33S8
7038
3338
34
335e
34
7038
3312
47%
47 14
69% 69%
3278 33%
IfllscellaiieoiiM Stocks.
93
•83
32% 33%
84
84%
1U%112%
83%
21% 21%
35% 36
6634 67%
13% 13%
28I4 28%
33
33%
3234
70
7014
32% 33
47
47% 45% 47
48
48% 46% 48
481a 49%
1021a 102 la; 102 14 102 14 102% 102%
9611
96
961a 96%l 96I4 96 14
Delaware & Hudson Canal..! 15138 15178' 151 151
150% 151
Oregon Improvement Co
•47
48
48
•471a 481a •47
Do
-95
*96
96
pref. •94
97
98
Oregon K'y & Navigation Co 100 la 100 Is 100 14 100% 100% 101
Pacific Mail
39% 40% 39% 41
39% 39%
Pullman Palace Car Co ..
191 192
190 190
189 191
Tennessee Coal&Iron...
8538 86
85
85% 80% 85
western Union Telegraph
•r,.
...P"
Distillers'
85
(Unlisted.).
Oil Trust
American Cotton
.
& Cattle
Trust
National Lead Trust..
Pipe Line Certltlcates §
Bugar Kefineries Co
Express Stocks.
Adams
Atlantic
Chicago
&
&
'.'.
&
P.icUic...
New York New Hav. i Hart
Quicksilver Mining Co
Do
^c"^ *
do
Ark.
& Texas.
pref
83
112
33%
•7%
72% 72%
21% 22
136% 137%
35% 35%
22
41
2278
79%
"19
80
69% Jan.
1,7801
97
523
Jan.
IS la Jan.
118,537
2,013
134% Jan.
33% Jan
7-z%
10578 10678
'88
9v
89 7e
50
90%
53
10438
104
94% 95
*94
112
96
112
10% 10%
74% 75%
16% 16%
104
7%
3,1121
2278
79
79%
104% 104%
'16% 18
38% 38% 38%
106
18
93
93
33% 33%
83
*33
'83
34%
85
35
88
49%
35
99
Jan. 29
2378 Jan. 26
138% Jan.
36% Jan. 4
36% Jan. 28
10
72%
20%
24
120
19%
68
10678
7
27
23
23
23
4
27
23
1
6
27
6
27
29
29
1
20% Jan.
18% Jan.
4
9
623
7% Jan.
7% Jan.
515 30 Jan.
31% Jan.
2238 Jan.
300 21% .Jan.
910 60% Jan.
63% Jan.
1,325 30 Jan. 13 33% Jan.
73% Jan.
5,104
13
100 20% Jan.
14!
50% Jan.
33% Jan.
650 16% Jan.
15:
2,876
8,108
81
17
35 % Jan. 13
20% Jan. 13
76 Jan. 18
-
24,323
14>45
i
25
29
28
27
7638 Jan. 28
22% Jan. 28
56 Jan. 2
38% Jan. 27
23 Jan. 27
43% Feb. 7
23% Jan. 30
79% Jan. 30
184' 104% Feb. 7 108% Jan. 31
200 16 Jan. 111 17 Jan. 27
500 36% Jan. 27' 39% Jan. 2
90 Jan. 17 96% Jan. 8
700 32 Jan. 24 34% Jan. 13
610 83 Jan. 17 85 Jan. 7
I,057illli4 Jan. 28 115 Jan. 9
3,700 32% Jan. 15 35% Jan. 3
5,620 20% Jan. 17 22% Jan. 27
4 36% Feb. 7
8,1301 30% Jan.
31,477 65% Jan. 17 6878 Jan. 28
Jail. 28
606: 127e Jan. 18 14
5,555; 27% Jan. 14 29% Jan. 27
Jan. 27
6,1101 30% Jan. II 35
1,388 67% Jan. 8- 71% Jan. 28
32% Jan.
17i
46% 46% 4678 47'8 47%
47% 48
47% 49
49
102% 102% 102% 102% 103
97
97
96% 96% 96%
48%
51%
16,675
30,590
42% Jan.
39% Jan.
2
3379
6978
7
B'eb.
1
5,950
13%:
29"
Jan. 28
Feb. 7
Feb. 7
Jan. 31
Feb. 3
Jan. 31
01% Jan. 8
91% Jan. 20
33%
217e
Jan. 28
Jan. 27
97% Jan. 27
73% Jan. 29
112%
33%
36%
67%
Jan. 27
71% Jan. 28
110% Jan. 20
112% Jan. 27
143% Jan. 3
98% Jan. 4
17% Jan. 2
53 Feb.
107 Jan.
96 Jan.
96%Jan. 30 104 Jan.
230 110% Feb. 5 117 Jan.
4,165
9 Jan. 13 11% Jan.
39,982 71% Jan. 2 76% Jan.
124 13 Jan. 7 18% Jan.
92 102 Jan. 6 104 Feb.
717 106% Jan. 16 107% Feb.
5 16% Jan. 13i 18% Jan.
420 70 Jan. 71 71% Jan.
300 38% Jan. 22| 39% Jan.
5,555 26 Jan. 2 27% Jan.
12 60 Jan. 21: 65% Jan.
46,380 43% Jan. 7! 49% Feb.
1,444
3
4
Jan.
27% Jan. 3
05% Jan.
45% Jan. 9
108% Jan. 27
37% Jan. 27
Jan.
402 117% Jan.
700 17% Jan.
8,950 02% Jan.
13,652 104% Jan.
280 88 Jan.
50,169x8438 Jan.
2,541 37 Jan.
1,250 100 Jan.
910 93% Jan.
20
41% 43%'294,095
22%
127% Jan.
200 33% Feb.
770
9 Jan.
600 67 Jan.
20
22
40% 41%
22% 22%
78% 79%
•83
3,641
9%
72%
23% 24
119% 119%
18% 18%
66 '4 66%
33% Jan. 8
77% Jan. 15
56% Jan. 28
800 32% Jail.
20 92% Feb.
36
9%
7%
8
10,495 30% Jan.
1,600 x7378Jan.
6,865 53 Jan.
8,495 115% Feb.
250 33% Jan.
3,247 25% Feb.
528 64 Jan.
930 43% Feb.
24,870 105% Jan.
5,480 26% Feb.
6,706, 70
Feb.
03,58O| 07% Jan.
465llin% Jan.
12,523 109% Feb.
135 140 Feb.
125,964 92% Feb.
100 15% Jan.
200 43% Jan.
97
•97% 98
Highest.
LoMreat.
112% 112% 112% 112
32% 3314 32% 33
33
21% 21% 21% 21% 21%
33% 3573 35% 3578 36
66% 67% 66% 67% 67%
•13
13% 13% 13% 13%
*"
28% 2878 28% 29
28%
33% 33% 33% 33% 33%
69
69% 69% 69% X6878
33
33% 3278 33
33
84% 85%
84%
8476
151% 151% 151
151
-47
•96
48
98
100
101
48
98
101
39% 39%
'46
'96
100
'39
•47
•96
75o 102
2,006 92
3,201 147
103
97
48
98
!
39%
191
83%
83% 84%
84% 85%
85
85
84% 85
847g
'32
34
34
31%
2678 27%
2678 27I4
27%
39% 40
40
39% 39% 39%
21% 2014 21% 1978 20% 1878
106% 105 106% 104% 10578 105%
64
em 63% 60 61% 56%
152
115
155
116
28
'189
191
189
31% •32% 34% '32
28% 2678 27% 27
39% 39% 39% 39%
20% 18% 19% 19
107% 106% 108
106%
5979
56% 59
58%
43%
92
935 100
I
100%
39% 39%
100
189
S3
27%
39%
21%
105%
63%
140
Cable.
Alton
Cin. W a.sh. & Bait.— Trust rec.
Do
pref.— Trust rec.
Columbus & Hocking Coal
Denver & Rio Grande, pref
Evansvllle & Terre Haute
St. IjOuIs
85%
*86
luartlve Mocks.
American Telegraph
'46% 47 -a
•35
1890.
36% Jan. 10
191
847g
9,167 36%
2,300 189
11,539 83
101
6,609 83
2
Jan. 17 103 Jan.
Jan. 2 9779 Jan.
Jan. 2 153% Jan.
Jan. 3 48 Jan.
Jan. 9 95 Jan.
Jan. 14 101 Jan.
Jan. 3 41% Jan.
Jan. 2 193 Jan.
Jan. 9 89 Jan.
Jan. 3 119 Jan.
Jan. 15 857eJan.
60 31% Feb.
35
27%! 11,895 25% Jan.
800 39% Jan.
.39%
19% 141,298 18% Feb.
37
50
Jan.
152
Jan.
8
22
10
28
28
24
31
16
7
27
29
Jan. 13
32% Jan. 4
41% Jan. 23
22% Jan. 27
108 Feb. 6
04% Jan. 31
106% 2,6j6,ooo 102% Jan.
5978 100,631
48% Jan. 28
51% Feb. 7
I
*
American
United States
Wells. Farco &Co
7%
33% 33%
'32% 34% -32
Receipts.
F.
•64
64%
43% 43%
108% 108%
28% 29
71
73%
69% 69%
115% 115%
110 110%
141 142%
93
93%
16% 16%
33
95
1,
I
Chicago Gas Trust
Colorado Coal & Iron
Commercial Cable Co
Consolidated Gas Co
Truat SiockK,
33%
31% •31
31
31% 31
21% •21% 22% '21% 22%
62
62% '62
63
63
32% •32
32%
32% '32
7514
74% 7478
'21% 22
22
'21% 21%
53% 52
52% •52% 53%
36% 36% 37% 3678 37
106% 105% 105% 106
•16% 18
•16% 18
'16
•37% 39
•38
33
38
84% 84%
34
60
4778
120
•25% 26
18
48%
19% •18% 19%
7% '7% "
7%
31
30% 30% 31
22% 22% 22% 21%
62% 62% 62%
627e
32 14
32% 32
32%
75% 75
75% 7478
21% 2114 21% '21%
54% 53
53% 53
37% 36% 37
36%
•20
20
20% •19
40% 3979 40% 40%
23% 22% 22% 22%
78% •77% 79
79%
48^8
3714
22
54
*32
33
•84
86
lllia IIII2
34% 3479
21 '8 21^8
35^8 36I4
Duluth
Bt.
Tol.
72
40
27
21%
54%
36%
17
3812
pref.
Ist pref.
Do
•71
•39
54
37
20
Do
pref.
EomeWatertown&Ogdensb g 107
Bt.
71%
62% 62%
pref
Northern Pacific
Oregon
17% 17% •17
60
pref.
& Western
Norfolk
•17% 18
2714
5478
•102
104
104
76
54%
106% 107% 106% 107%
"17
17%
17% •17
70
70
70% 70% 70% 71
•38%
*39
39%
38% 39
39%
27%' 27% 27%
27
27% 27
'62% 65
64
64
48
48% 48% 48% 48% 48%
19
19
19
19
19% 19
18
40
104
107
7479
'33 '4
18»a.
1,
Bailee Blnoe Jan.
8bares.
32% 33%
119
JAN.
Week,
Friday,
Feb. 7.
74% 75
54 14
AND SINCE
Bales
of tbe
3238
32 >4 3*2<4
82% 33%
74% 74% 717g 74Tg '74% 75%
54
54%
.5414
54%
54%
54%
Canuda SoutUern
119% 120>4 11912 119H 115% 119
116% 117% 117% 118%
Central of New Jersey
•3314
•33
•33%
33%
33%
33%
33%
331a
Central Pacific
25% 25% 25% 26% 25% 28%
261s
251a 26
Cliesapealce &0.— Vot.Tr.cert. •26
•64%
"64
6512
65
65
64
64%
ea
64%
64%
Do
do 1st pref
*44
4314 43%
45
44
44
43% 43% 43% 43%
Do
do 2a pref.
106»8
108
106%
108%
107\
107%
108%
107'8
108%
108>e
Chicago Biirlln/jlou & Qiilncy.
30
31
28% 28% 2914 30
29 14
28
261a 3OI4
Chicago & Eastern Illinois...
75>4 78J4
75 12 71
72
70
72
74% 73% 7414
prof...
Do
70% 68% 69<S8 69 14 69% 69% 69%
69% 70% 69
Chicago Milwaukee &8t. 1*3111.
115% 116
pref. 116
1161a •1151a 1161s 11538 115% •115% lib
Do
lllUlim 1091a 110% 109% 110% 110 110% 110% 110%
Chicago
Northwestern
•140
14012
14013
140
141%
'140
140
141
141
pref. 1401a
Do
O514 95i>8
9278 85%
92% 9414 92 14 94
92% 93%
Chicago Bock Island & Pacific.
•16
•16
I714
ne
17
I714
•16%
16%
16%
17%
Chicago St. Louis & Pittsburg.
•47% 481a 46% 46% •46
48
48
47% •46
48
pref.
Do
•32% 33
33 12 33
•32% 33% 33
33
33
Chicago St. Paul MIn. & Om.. •33
9712 *
97% '92% 97
pref.
92% 92% •92% 96
Do
72^8 73
72
72
72% 71% 72% -71% 72% 72
Clere. Clncln. Chic. 4 St. L...
98I3 98%
•07% 98
97% 98% 97% 97»s 98
98
pref.
Do
•22%
22
21%
21%
2178
2314
22
21%
21% 21%
CoIumbusHocklngVal. &Tol.
136%137i4 13614 137 14 136% 137
133% 13678
Delaware Lackawanna at West 136ie 137
36
3514 35%
3514 35%
36
35% 35%
35% 36
Deny. Tex. & Ft. W., Vot. cert.
'3514 36
•33% 36% 35% 35%
assented.. *35i2 33,
Do
912
9*2
914
9% 9%
914
9% '9% 9%
East Tennessee Va. & Ga
97e
•71
71
73
71
73
71
71
71
71%
1st pref. •71
Do
•23
23 14 •2214 22% •22
23
23
23
23
23.
2d pref.
Do
120 120
118% 119'8 119 119
119% 119% 119 119
Illinois Central
19>4 19'4 •19% 193e
19
19
18% 1878 '18% 19
Lake Erie & Western
67 14
66% 66=8 66
66% 6578 66%
t>ref
Do
671s 67?* X66
10578 106% 106 10614
Lake Shore & Mich. Southern 106 loo's 106 106% 10508 106
89'«
'88
89
89
8978 8979 •88
88
88
89%
Long Isiaiul
8918 90
88'8 8978
88% 8914 88% 89% 89
90%
LouLsvllle & Nashville
51
48
45
45% •45
49
50
49
51%
Louis. New Alb. & Chicago ... '49
Manhattan Elevated, couaol.. -102 105% 102 104% 103 103 •103 104% 10378 105
95I4 9514
94 96
9514 95 14
Michigan Central
94% 94% 94%* 94%
•94% 96
•94
•92
*94
96
96
95
96
Milwaukee Lake Sh. & West.. •95
114
114 114
II314 114
pref. 113
110% 110% 112 113
Do
953 10
10
10
Missouri Kansas <& Texas
9
978 10
9% 10
9%
74% 75ie 74 14 75
74
74% 74% 75% 74% 75
Missouri Pacitc
'17
16 IS
18
17
17
17% '16% 17
Mobile i Ohio
17
32 "a 32'b
75
75 <a
54^1 55
Afchisoii Ti)p.
7,
131
•2%
'5%
I
'
140
•84% 86%
•4% 6
135
3%
5%
116
90
"140
156
116
90
143
'152
*115
-140
157
117
90
144
86
86
86
86
(•152
5
5
*130
135
2%
•5%
18% *17
51% 51% '50
108% 108% 108
•17
90
4%
134
"2% 3
•3
6%
i
86% 86%
•4% 5%
;•130
134
•2% 3
86% 86%
•4%
130
87
5
459
130
135
87-
4%
135
I
I
i
*6
6%
36% 36%
'3%
i
90
144
157
153 157
117
115 117
89% 89%, 88% 89%;
140 145
144 144
153
115
M
2.50
•3%
6%
35% 36
115
90
-140
166
115
I
•2% 3
3%
•2% 3
5%
5% 5% '5
5% '5
5%
5% 5%
18% •17% 18%: '17
18% 17% 18% 18% 19
-30%
51%
50% 50%! 50% 50%:
108% id?" io7" 107 108
107 108
108 108
'
'
5
'130
•152
•6
•36
6%
6
252
249
M9
230
255
:
6%
6% .6% '0
6%
37% •36% 87% '35% 37
6%l
6
6
6% *6
22%
1
43
21
23
Pncltic Land Tnisf"
••21% 22
23
2i
'I
These are the pn<«a bid and aeked; no sale made at tba BoacO.
<
I
I
I
230
6%
6%
250
6%
6%
39% 39%
I
Prieat from both Exobauges.
22
201 113% Jan.
104 84 Jan.
26 135 Jan.
9
4
6
7
156
116
90
144
Jan. 31
Jan. 22
Jan. 31
Feb. 7
87 Jan.
5 Jan.
135 Jan.
Jan.
2% Jan.
3% Jan.
300
6% Jan.
4% Jan.
20 Jan
500 15 Jan.
51% Feb.
705 48 Jan.
1,120 06 Jan. 17 108% Feb.
134 244% Jan. 10 232 Feb.
3001
6% Feb. 71 7% Jan.
400 35% Feb. 1! 39% Feb.
945
6 Jan. 6i 7% Jan.
108 20% .Tan. 2 23% Jan.
335 85 Jan.
110
4% Jan.
xExdIvldend
133
27
10
24
13
14
27
1
1
4
4
7
8
2
THE CHBONIGLK
2flO
INACTIVE STOQILS—Qaotations
Bid. lABk.
AJb-nyASasq.' 160 170
III. i>(
90
B.«N.T.A.L.i>f 101 >3'
16
20
Buff. R. &l"itfc
do.
JTCf.
76»fl 77
Burl.C.R.dtWo.l 30
35
Gedar F.tilA
4>s
Cl,& PlltM.<u..l 155
Bid.
GBayW.A8t.Pi
IIouB. &Tex;C.
DesM. &Ft. D.I
6
Pes W.AF.O.pt:
18
»7
6
102
10
2;{
2K
23 1«
9
10
26
16>ii
17>1!
Iowa Cent
do
I
pref.
Keok. iScDesH.
I
do.
jpref
KiiiKs. (ikPenib
.
pref.
do.
I
do.
Uange
lUlUIOAI) AND HiaCBI.. BONDS.
7 Jan. 31
Feb.
* Pac—W. D. Inc.,
Guar., 48, 1937
pref.l*
do
M.K.iT.nghta
Loaetl.
]
—
—
.
Ch.St.I,.* Pitt.— l8t,cou.58,1932
Cajlc, St. P. M. .S O. -Con.68,1930 121 laa,
Cleve. & Canton— iBt, 58, 1917. 95
C. C. C. & I.— Consol. 78, 1914.. 130
General consol.
&
6b.
1934
lion— Ist
68, 1900..
Col.H.Val. cfcTol.—Con. 5s, 1931
GeneralKold, 68, 1904
©euver & Klo Ur.—Ist, 78, 1900
Ist consol. 43, 1936
Del. B. C. vfe Alp.— lst.g.,6s, 1913
Col. Coal
b.
100
120 b, 121
95 %b. 94
b.;130
117
104
78I4
78
77iaa.
1181a
78
100
77
118
b,
b.
7778
100
a.
b.
Sh.& Atl.— g.,
5s, 1937.
G.— Con., 5s, 1956
a.
92
104i8b.
lOgiflb.
Clii. Lex.
& Big Ban.—Us,
Erie— 1st, cousol. gold,
long Dock, 78, 1893
1902.
7e,
103%
1920 138
Consol. 68, 1935...
N.Y.L.E.&W.— 2d con. 68,1969
Ist, 68, 1921
Vt. W. <Si Denv.
Oal H.&SanAnt.-W.Dlv.lst,5s
Oulf Col. .S! Sail. Fe—lst,7B,1909
Gold, 6s, 1923
<Hau. & St. Jos.— Cons. 68, 1911.
'..1952
Illinois Central— 48
C—
b
92 b
104%
Tenn. V. &
CKjioxv.
& O.—lst,6s,gold,1925
b.
110
103 lab.
139 b.
109iab.'109i3
12 Hall.
10214b. 1021a
104% IO514
121 13
93
119
77
b,
b.
93 b
119
77
b.
120iab. 12014
101 b.lOO%b
Jnt.&Gt.No.-lst.es, gold, 1919 I10%b. llO'eb.
Coupon, 6b, 1909
7514b.
Iowa Central— Ist Ss, 1938
871a
Kentucky Ceut.— Gold 4, 1987. 841a
84iab.
OiiuKSCo.El.— l8t,8er.A,5s,1925 IO414 IO4I2
i«(:ledc GaB- Ist, os
1919 86
87
X. Erie it West,— 1st, g., 5s, 1937 11014b. 110 b
fjake Shorc.-Cou.cp.,l8t,7s,1900
Coneol. coup., 'Za, 78, 1903
iiong island- Ist, cou.,58, 1931
General mort., 48, 1938
liouisv. & Nashv.- Con., 7s, 1898
N. O. &Mob.— l8t,6s,1930...
do.
2d, 6b, 1930
E. H. &N.— 1st, 68, 1919
General, 68, 1930
Trust Bonds, 6s, 1922
60-year 5tt, 1937
Collat. trust 5s, 1931
lonis. N. A. &Ch.— l8t, 6», 1910
125
125
b.
98
b.
12479
b.
11912b. 119
11713b. 117 i8b.
108
109 b.
11358b. 113%b,
b.
11313b. I1313
llliab. 111
10814a,
1081a
117
Consol., gold, 6s, 1916
1031a
Louis. South., 1st g. 68. .1917 103 lab.
IiOul8.8t.L.& Tex., 1st g.Os. 1917 98 la
Mem. 4 CUar.—«is, gold, 1924...
fietro. Elevated— Ist, lis, 1908.. 11212b.
2d, 68. 1899
b.
98
107
b.
•Ilch. Cent.— 1st, eon., 78, 1902.
Consol., 5s, 1902
Mil. Lake Sb. .it W.— let, 6s, 1921 122
Conv. debenture, Ss, 1907.... 103
Jan.
Jan.
Jan.
117 a.
103 b
103 lab.
101
112
b.
1081a
126i3b.
II714 Feb.
103% Jan.
74 Jan.
75 Jan.
II8I2 Jan.
7612 Jan.
100 Jan.
36 Jan.
101 Jan.
92 Jan.
lOSifiJan.
log's Jan.
103 Jan.
13718 Jan.
1081a Jan.
120 Jan.
10013 Jan.
104 14 Jan.
931a Jail.
1146^1 Jan.
74% Jan.
120 Jan.
10034 Jan.
IO914 Jan.
73 14 Jan.
85 Jan.
84 Jan.
104 Jan.
83 Jan.
110 Feb.
124 Jan.
123% Jan.
116 Jan.
97 la Jan.
115 Jan.
11514 Jan.
106 Jan.
113 Jan.
113 Jan.
1091a Jan.
105 12 Jan.
104% Jan.
II412 Jan.
103 Jan.
102 Jan.
98I4 Feb.
104 Jan.
112 Jan.
106 Jan.
126 Jan.
Ill'
111 J.in.
b. 12212b. 123
Jan.
b. 104%b. 101% Jan.
Exteu.&Inip. B.f. 58, 1929... 10338 105 14 101 Jan.
Illw. ii North.— M. L., 68, 1910 IIOI4 no'sb. IIOI4 Feb.
Ist, Con., 68, 1913
lOSiab. 108 lab. 108% Jan.
•Ilun. ii St. I.0UI8— iBt, 78, 1927 99 b. 10412b,
Jio. Kan. & Tex.— Con., 6b, 1020 7514
73%
711a Jan
Consol., 6k, 1920
6538
6II3 Jan.
631a
Con., 76, 1904-5-6
Wo. PaciUo— l»t,
8d, 7b, 1906
con., 68,
II314
1920 111
115
14 Jan.
7313 Jan.
1081a Feb.
100 Jan.
122 Jan.
I2413 Jan.
112 Jan.
116 Jan.
103 Jan.
109% Feb.
11458 Feb.
10212 Jan.
117
Jan.
101% Jan.
11312 Jan.
127 Jan.
105 Jan.
95 Jan.
94 Feb.
118 Jan.
12II3 Jan.
100 Jan.
94% Jan.
127 Jan.
114% Jan.
117 Jan.
10769 Feb.
102% Jan.
103% Feb.
105 Jan.
144 Jan.
1277e Jan.
116 Jan.
llOiaFeb.
110% Jan.
106 la Jan.
9979 Feb.
95 Feb.
131 Feb.
105'e Feb.
lOlig Jan.
122)a Jan.
97 Jan.
1181a Jan.
1(18
Jan.
79 Jan.
77 Jan.
1181a Jan.
78 Jan.
100 Jan.
38 Jan.
101 14 Jan.
93 Jan.
105 Jan.
110 Jan.
104 Jan.
I39I2 Jan.
109 12 Jan.
1221a Jan.
IO2I2 Jan.
10513 Jan.
94 Feb.
1191a Feb.
77 Feb.
Pitts. Ft.
15ifii
%
45 ...„.
....,
70
15
Utica&Bl.Elv. 130 150
43hI ii
Va. Midland...
Tol.Peor.
I
1
1
AW.pref
Pitts.
Renns.
<t
Sara.
Bailboad and Miscel. Bonds.
HI
Jan.
123 14 Jan.
104% Jan.
105*4 Jan.
IIII4 Jan.
109 Jan.
1927.. 116 b. 116 b.
6458
6458
General mort., 48, 1938
Mutual Uu. Tel.— S. f., 6s, 1911. 102 b. 101 b.
Nash. Ch. & St. L.— 1st, 7s, 1913 132 b. 132 b.
lOSTg 108'8
Consol. 5s, 1928
104
N. Y. Central-Extend., 5s, 1893 103%
N. Y. 0. & H.— 1st, cp., 7a, 1903 13013b. 13012
Ill
11 Ilea.
Debenture, 5s, 1904
1900 128 a.
, N.Y. & Uar.— l8t, 7s
& Ohio—New,
751a Jan.
651a Feb.
110% Jan. II313 Jan.
109% Jan. Ill Jan.
b.
1141s Jan.
63.
p. Y. Chic. & St. L.— 1st, 48, 1937
N. Y. Elevated— 1st, 7s, 1906...
N. Y. Lack. & W.— Ist, 6s, 1921.
Cons'jruoHon, 58, 1923
N. Y. Ont. & W.— Ist, 68, 1914..
K. Y. Su8. & W.— Istref ., 5s, 1937
Midland of N. J.— 1st, 68, 1910
Norf. & W. Clinch Val.— 5s,1957
North. Pac— l8t, coup., 6s, 1921
General, 2<1, coup., 1933
General, 3d, coui>. 6s, 1937 .
No. Pac. Ter. Co.— 1st, 6s, 1933.
Ohio Ind. & West.- 1st, 58, rec.
Ohio & Miss.- Consol., 7s, 1898.
97
114
b.
MoTK.— Theletter "b" Indjoatea pries
*;<*,
a»4 "*",#ri«e
Jan.
Loicesl.
I
Ohio
Soutncm— 1st,
2d, income, 6s,
Omaha &
St.
6s,
1921
109%
107
84
115
107
b.
8314
115
a.
b.
lOO'^sa.
...
1921
48, 1937.. 7513
6s, 1910. 10312
Co.— let, 68, 1909 111 b.
7514
L.— 1st,
103%
111
Ore. R. &Nav.
Consol., 58, 1925
b.
104
10312b.
Oregon & Transoon'l- Os, 1922 105 14 105
Peun. Co.— 4138, coupon, 1921. 109 b. 10914b.
102 b.
Peo.Dec.&Evans.— lst,68,1920
108 b.
Evansv. Div.— 1st, 68, 1920.
69 a, 72 a.
2d mort., 5s, 1927
86 14b.
PhUa. & Read.— Gen. 4s, 1958
861a
70l8
70 b.
1st pref. income 53, 1958 ...
51
SO b.
2d pref. income 58, 1958
44 14
43
3d uref. Income 5s, 1958
Pittsb. & West.— Ist, g., 4s, 1917 81
80'8b.
Rich. &A11.— lst,7s,Drexel cert. 69iab
70
2d mort. ,6s, 1916, Drexel cert. 39 b. 40
Rich. & Dauv.— Con., 6s, 1915 .. 116 b. 116 b,
90
89 b,
Cousol. gold, 5s, 1936
Eich.<fe W.P.Ter.—Trust 68, 1897 08 %b. 102iab,
81
Con. IstA col. trust, Ss, 1914 80%
jRio G. Western— 1st, 46.
.1939 72
721a
B.W.&Ogd.— Con., ext,5s, 1922 110% 110 b
Bt. Jos. & Gr. Isl.— 1st, 68, 1925. 105 b. 105 b,
St. L. Alt. & T. H.— l8t, 7s, 1894 Ill b. llOigb,
107% llOiab,
2d, mort., pref., 78, 1894
. .
6t.L.Ark.&Tex.— l8t,6s,exeoup, 89i8
2d,6s,1936
261a
Bt. L. & Iron Mt.— 1st, 7s, 1892. 104 b.
109 b.
2d mort, 78, 1897
Cairo & Fulton— 1st, 78, 1891. 101
Cairo Ark. & Tex.— lst,78,1897 104 lab.
Gen. R'y & land gr., 5s, 1931. 9113
Bt. L. & San Fr.— 68, Cl. A, 1906 11212b.
89''8
26 >3
107 12
10858b,
101 la
10458
90%
Il2i2b
11258b. 11212b
1906
...
8914
[Ban A.&Aran. P.— lst,g.,68,1916
Ist, gold, 68 1926
87%
87
I
10914 Jan.
106 Jan.
8214 Jan.
81% Feb.
115 Jan. lis Jalu
108 Jan. log^B Jan.
55 Jan.
55 Jan.
7312 Jan.
75% Jan.
101% Jan. 104 Jan.
110% Jan. 113 Jan.
10214 Jan. 104 Feb.
103% Jan. 106 Jan.
108% Jan. 109i4Jan.
101 Jan. 104 Feb.
lOlis Jan. 105 »Feb.
69 Jan.
72% Jan.
85 Jan. .87 Jaju
68 Jan.
80% Jan.
48 Jan.
54.% Jan.
40% Jan. 49 Jan,
80% Jan. 82% Jan.
68% Jan. 70% Feb.
38 Jan.
40 Jan.
115% Jan. 117 Jan.
88% Jan. 90% Jan.
99% Feb. 103 Jan.
78 Jan.
81i4F«b.
71% Jan. 73 Jan.
110 Jan. 110% E?b.
104% Jan. 10638 Jai).
110% Jan. 110% Jan.
107%;b'eo. 111 Jan.
8838 Jan.
91 Jan.
24% Jan. 29 Jan.
104 Feb. 108 Jan.
108% Jan. 109 J«n.
100% Jan. 101% JS.
10258 Jan. 106 Jan.
88 Jan.
§l%Feb.
112% Jan. 113 Jan.
112% Jan. 113i*Jan.
112% Jan. 1 13 Jap.
109% Jan. 112 Jan.
1
General
68,
1921, XruBtrec...
Car.— 1st, 68, 1920, ex coup.
Income, 6s, 1931
jBo.
9
96%b,
9 a.
a.
96
Jan.
7% Jan.
&
&
&
&
40%
M.—
i
Kan.C—
b
Mid.— Gen. m., ,5s, 19361 85 b.
do
stamped guar. 87ia
Virginia
Wabash- Ist,
gold, 5s, 1939....il03ia
82ia
gold, Ss, 1939
Debent. M., series B, 1939 ... 51ia
2d mort.,
[
West Shore— Guar., 4s
&Pa.— lat,
j
5,
105 la
1937.'
2d mort., 3g., Ssc, 1927
32
West. Un. Tel.— Col. tr., OS, 1938'
Wheel. * Lake E.— 1st. Ss. 1926 105
Wis. Cent. Co.— Ist, g., 56, 1937. 9858
]
Income,
58,
1937
a»l(e4i all otl*« pries* and.to^
I
64
Jan.
Feb.
b,
86% Jan. 89% Jan.
85%b 85 Jan. 87% Feb.
87%
85% Jan. 88I4 Feb.
116
113%Jan. 116 Jan.
50%
48 Jan.
S3 Feb.
60. Pac., Ariz.- Ist.Os, 1909-10. 106%b! 106%b, 107
Jan.
Bo. Pac, Cai.— 1st, Os, 1905-12.. 116 b. 115 b. 115
Jan.
1st, consol., gold, 6s, 1938
102% 101 b, 101% Jan.
107% 107 Jan.
60. Pac, N.M.— 1st, 63.1911 ... 10738
Tenn. C. I. Ry.—Ten. D., Ist, 68 10268b. 104%
97 Jan.
Birm. Div., 1st, Bs, 1917
102% 103%
98% Jan.
92 14
1st, gold, 58, 2000 92 14
Tex.
9058 Jan.
38I4 Jan.
2d, gold, income, 5s, 2000
40%
N.
107
Tol. A. A.
Ist, 68, 1924 106%
105 Jan.
Tol. A. A.& Gr. Tr.— 1st, 68, 1921 108 b. 110
107 Jan.
Ohio Cent.— 1st, Ss, 1935 10314b. 103 b. 102 Jau.
Tol.
Tol. Peo.
West.— 1st, 4s, 1917.. 76%
76 b, 76 Jan.
Tol. St. L. &
Ist, 68,1916 100 a. llOO b,
99 Jan.
Union Pacltlc— 1st, 6s, 1899 .... 116 b. 116
115 Jan.
Sinking f mid, Ss, 1803
116 b. 116 b, 115i4Jan.
Kansas Pacltlc- 1st, 6s, 1895 10914b. lll%b, 111% Jan.
1st, 68, 1896
lll%b. illl
110 Jan.
Denver Div.— 68, 1899
113'8b. 113%b 113 Jan.
Istconsol., 68, 1919
116
116
11458 Jan.
116 b. 112% Feb.
Oreg. Short Line— Ist, 6s, 1922^113
& Pac—
118% Jan.
120
102
89
b.
lis b.
52 %b.
97 b.
iBhen. Val.— 1st, 78, 1909, Tr. rec.
I
Jam.
Jan.
Jan.
111% Feb.
113% Feb.
99 Jaa.
118 Feb.
101 Feb.
114% Jan.
114% Feb.
Ill Jan.
107% Jan.
102%b 101% Jan. 101% Jan-
Collateral trust, Ss,
Ist,
97
115
134
Jan.
.
Montana Ext.
Feb.
Jan.
Jan.
Jaa.
130% Feb.
iilii Feb.
llliaFeb.
113 Jan.
112i)jb. 112iab
Cs, Class C, 1906
110 b. 10913
General mort., 68, 1931
General mort., 5s, 1931
97 b
8. P. M. & M.— Dak.Ext., 68, 1910
117%b 11776 Feb.
Ist cousol., 63, 1933
118%b. 117%b 115% Jan.
101 %b 101% Jan.
Do
reduced to 4138 .
1898
4s, 1937
Jan.
85% Jan.
102
133
109
104
Jan.
11438b. 11438
113% Jan.
11414b. 113%b. 11258 Jan.
Oregon Imp. Co.— 1st,
68, Class B,
10238 Feb.
5714 Jan.
101 Jan.
13214 Jan.
106% Jan.
IO314 Jan.
130 '4 Jan.
110% Feb.
115
98
101
1.
Bighett.
101% Jan.
97% Jan.
99
98iab.
18907
115% Jan. 116
9313 Jan.
Jan.
1321a Jan.
11213b'. llSiab.
1,
since Jan.
114
IIII3
|
115
97
114
132i2b.
.
West. N. Y.
II318
a. 111 b.
.
98% Jan.
Pac. of Mo.— let, ext., 4b, 1938 99 b. 101 la
10238 10214b. IOII4 Jan.
2d mort., 78, 1891
Mobile
112
1171a Feb.
1081a Jan.
114 Jan.
114 Jan.
11118 Jan.
106 Jan.
1081a Feb.
117 Feb.
105 Jan.
10413 Jan.
101 Jan.
IO518 Feb.
113 Jan.
1081a Jan.
128 Jan.
'
AW.!
Range
7 Jan. 31
Feb.
Feb
lOHaJan.
Jan.
751a Jan.
South Caroling
iPltU.&W.U-.rc
i
43
123
8outli'nrot.OUi
epe«tal.
do.
Ii
241a
19
pref.
Tol. & O. Cent.l
do.
prfcf.l
W.&C
Otonng.
121
100 Jan.
85 Jan.
105 Jan.
87 Jan.
111 Jan.
126 Jan.
125 Jan.
117i4Jan.
99 Jan.
119 Jan.
18
41
St.L.Alt.&T.H.
41
do.
pref. 110
do
I
!
23i2
Rich.&All.tr.r.
Elo Gr. West..
N.Y.&Nor.pf.l* 23
5
lOhloInd.&W'n
H
prof.!
20
do
16
Olilo Southern.
Highest.
b,
b.l
b. 1071a
Det. Mac. & M.— Ld.gr.3i28, 1911 36 b. 36
Dul. & Iron Range— 1st, 5s, 1937 100 lab. 100
f)ul. So.
AsF
"BidI
I
STOCK EKCUANGE, AN» RANGE SINCE JAN.
N. ¥.
tinee Jan. 1.
i-V.-uJa
guar., 5a, 1908
•
16
94
'Morgan's Ii.&T|
Morris & Essex,
1910
68,
Ask.
I
N.Y.&Harlem 250
N.Y.Lack.&w|»ll3%
N.Y.N. H.&H. "250
6
Milw. & Nortli.l 60
60
Minn. &St. L.l* 7Jfl'
12 Jan.
12 lab. 1213
71 b. 71
71 Jan.
107 »fl 107 Jan.
108
99^
9714 Jan.
Sd, 58, 1013
vSuoa 100
121 Jan
Central of N. J.— Cons. 78, 1899. 121 3t 122
124
b,
127
>4b.
1241a Jan.
Convert. 7b, 1902
IIIJ2 IIOI4 Jan.
... 111%
General mort., 59, 1987
115
ll5>8b.
b.
1909,as'nt
115 Jan.
heb.& W.U..COU. 78,
103 Jan.
do. Mortgage, 58, 1912
110
...
109%a.
10713 Jan.
1921
Am. Dock & imii., 5s,
112 Jan.
Central I'aclllc— Gold Cs, 1898.. 11458 114
10214b.
10214b.
101% Jan.
l^affld grant 68, 1890
104 a. 103 b.
Mortgage 58, 1939
B.
118
68,1911..
1151a Jan.
Ches. & Ohio.— Mort.
lOlifl
101
10014 Jan.
Istconsol. 5s. 1939
109
1131a
110 Jan.
Ches. O.&So.W.-Bs, 1911
Chic. Burl. & Q.— Con. 7, 1903.. 126isb. 112614b. 126 Jan.
104% 10438b. 104 Feb.
Debenture 5s, 1913
93 b. 9412 b. Oiifi Jan.
Denver Division, 4s, 1922
931a
92 Jan.
Nebraska Extension 4s, 1927. 94
Chic, ii E. 111.— 1st, 8. f ., 6s, 1907 118 a. 118 b. 118 Jan.
120 a. 120 b, 120 Jan.
Consol. Gs, 1934
95 b. 95 b. 95 Feb.
General consol. 1st, 5s, 1937
Chic. Gas. L. & C— Ist, g,58,1937 93 %b. 93i8b. 90% Jan.
126 b. 12458 Jan.
Ctaie. Mil. & St. P.— Con. 78, 1905 126%
l»t, Southwest Div.— 68, 1909. 115 a. 114 b, 113'8 Jan.
Jan.
lit. So. Mlu. Dlv.— «s, 1910 .. 114 b. 114iflb, 113
1075iib. IO5I3 Jan.
1st, Ch.& Pac.W.Div.—58,1921
102 14 Jan.
•Chic. A[ Mo. Riv. Div.— 58,1926 102 lab. 1021a
103%
103 Jan.
Wis. & Minn. Div.—6s, 1921
10314b. 103 14 Jan.
104
Tettutiial 68,1914
Chic. & N. W.—Consol. 78, 1915. 142 b. 144 b, 143 Jan.
126 la Jan.
127 b. 127
Gold, 7», 1902
lieigb. 117
115i2Jan.
einkiug fund 6s, 1929
lOSiab.'lOSiab. IO814 Jan.
'Binkiug fund os, 1929
iBinkiug fund debent. 58, 1933 110 b.'lOO b. 109 Jan.
25-year debenture 5s, 1909... 106 b. 105%b. 105% Jan.
09 Tg
99 b. 96 Jan.
Extcution48, 1926
91 12 Jan.
«hlo. I'eo. & St. L.— Gld.58, 1928 94isb. 94
Chic. v.. 1. &Pac.— 0B,coup.,1917 130 b. 130 b. 129 14 Jan.
105% 105 »8 104% Jan.
Extension & col. 5s, 1934
Atl.
Can South.— Ist
5
12
90
16
Mex. Central..
PRICES OP ACTITE BONDS AT
Oloting.
pref.l
Hary'd. Coal .j*
Mcm.&Cli'st'n
60
55
108
Mabon'g C. R'y
7
25
— LAT£ST
BUNUiS
gJli
31,
Ill.C.leasedrB.
Man. Beaoli...!
Mar.H.&Ont'n
25
20
7
£llE.Lex.^kB.8l
17»« Loelede Gas.
R. G..| "l«"'
Bid.
11
Col.ifeOi'nv.pf.i
&
Indicates actual sal«e.)
(*
Bid. >A8l(.
]
Bell. &So.
Din.
eontinaed.
&ek.
I
fVOL. L.
b.
86
87
86
Jan.
87% Feb.
I0314 102 Jan.
86
81% Feb.
S23eb. 50
Jan.
105
104*4 Jau.
95
9214 Jan.
31%
29 Jan.
102
100% Jan.
105 Jan.
OB'e
96% Jan.
6OI4 Jan.
65
range are from e«tual-9al9«.
b.
b.
99
Feb.
Jan.
Jan.
Jan.
102% Feb.
107% Jan.
9
107
115
104%Jan.
103% Jan.
92% Jan.
40% Feb.
107% Jan.
110% Jan.
108% Feb.
76% Feb.
101
116
Jan.
Jan.
116% Feb.
112
Jan.
111% Feb.
113% Jan.
116 Jan.
116i4Jao.
87 Jan.
88% Jan.
103% Jan.
86% Jan.
63
Jado.
105% Feb.
95% Feb.
33% Feb.
102% Jan.
105% Jan.
09
69
Jan.
Jau.
February
8,
THE CHKONICLR
1890.J
201
BONDS-STOCK EXCHANUE QUOTATIONS ON FRIDAY OF THE LESS ACTI7E BAILBOAD BONDS
SECURITIE&
E. Tenn. Va.
(S'ork- Errhavnf. Prlfet.)
& Danv.— 1st «., 6a. .1917, 981^
& Pac— W. I).,
Gs,.A907
Bait. & Ohio— 1st, 6.S, Park B.1919 iHh
Atlantic
Atl.
-.id
1925 •105
1988
58, Kold
Con.'i.
101
(fii.
mort.,Kol(l, 58
122
107
.193« * 85»j 89
4s.
Tim. & W.— Del). 58.1913 100 101
Brooklyn Elov.—lst, g., 68. ..1924 112»s 113
1915
2d, 3-58
Union El., 1st, piar., 6s....t937 low's
Brunswick & West.— I8t,g.,4s.in38
Biifl. Roch. A Pitt.s.—Gon., 58.1937 * 98
1921 115
Koch. & Pitts.— l.st, Os
118
€onHOlidiit'dl8t,68.1922 *114
do
Burl Ced.Uap. A No.— Ist, 58.1906 *
971s
94
Consol. Acollat. trust, 5s. ..1934
Minn. & St. !>.- 1st, 7a, gu..l927 112
lowaC. & Wast.— 1st, ?».... 1909 90 110
90
Ced. Rap. I. F. & N., l8t, 68.1920
1st, 58
1921
IO312
Central Ohio R«or.— Ist, 419s. 1930 *101
Cent. RR. & Bank.— Col.K-.Ss. 1937 loo's lOlia
96
99
Sar.A West.- Istoon. x.,.5s,.l929
Cent, of N. J.— Conv. del).. 6a. 1908 119
Central Pacific- Gold bd».,6s.l895 111'4
gold bonds, 6s
1896 •Ill's II212
old bonds, 6s
1897 113 1T4
San Joaquin Br. 6s
1900 '112
Cal. & Oreaon- Scr. B, 6s... 1892
Beech Crinik— Ist, gold,
Bost.
. .
II.
,
West. Pacific— Bonds, fis. .1899 IIOI4
No. Railway (Cal.)— Ist, 6s. 1907
& O.— Pur. M. fund, 68.1898 113 iioia
6a, gold, scriea A
1908 118
80
ghcs. O. & So. West.— 2d, 6a.. 1911
hlcagoA Alton— 1st, 7a
1893 108% 110
•121
Sinking fund, 63
'a 1221a
1903
Loula. & Mo. River- 1st, 7s.l900 11812 120
II8I3
2d, 7a
1900
113
8t. L. Jacks. & Ohio.— l8t,78.1894 112
1st, guar. (564), 78
1894 112
2d mort. (360) 7s
1898 •113
2d. guar. ( 188), 73
1898 •113
Miss.R. Bridjro— 1st, s. f., 63.1912 107
Ohio. Burl. & Nor.— Deb. 68... 1896 104 14 1041s
Chic. Burling. & Q.— 5s, s. f..l901 107 "4 107%
. .
Ches.
,
Iowa Div.— Sink, fund, 53.. 1919
Sinking fund, 48
1919
Plain, 43
1921
Chic. & Indiana Coal— l8t 58.1936
Chicago Milwaukee
Ist, 8s, P.
D
A St. Paul—
1-25
D
1898 115
Ist, 78, 1 g., K. D
1902 122'«
Ist, La Crosse Division, 78.1893 111%
Ist, I. & M., 73
1897 \IQH
1st, I. A D., 78
1899 I1714
AM.,
1903
Ist, r. A D. Extension, 78... 1908
Ist, La C. ADav., 58
1919
l8t,H. & D., 78
1910
l8t. H. A D., 58
1910
Chicago A Pacific Div., 6a. .1910
Mineral Point Div. 58
1910
A
78
124
125
•103
123
124
116
102 "2
L. Sup. Div., 58. .... . . .1921 •102
Fargo
South., 63, Asau...l924
Inc. conv. sink, fund, 5s
1916 95
C.
&
A Gt. South., 58
e. 4a, ser. A
0.ilcago A NorthwesternDakota
98
Gen. mort.
1916
1989
AL. S.— 1st, 63
Des M. A Minn.— 1st,
1901 110
Esc.
Iowa Midland- lat,
7s.
Ss
Peniuaula- 1st, conv.,
. .
95 >2
96
1900 130
120
135
C—
1st, con., guar.,
Del.
7s
1915!
A Hud. Canal—1st, 7s... 1891
1st, extension, 7s
1891
Coupon, 7s
1894!
Pa. Div., coup., 7a
1917
Albany A Susq.— lst,gu.,78.1906|
1st, cons., guar., 63
Bens.
Sar.— 1st, coup.,
A
1906!
7s.l921
A R. G.— Iuip.,g., 5a... 1928
E. Tenn. Va. A Ga.— 1st, 78... 1900:
Divialonal 58
1930
lat ext.. gold. 5a
19371
Denv.
1
C—
AN. Ala.— S.
1910
f., 6.s
.
Mexican National— 1st, g., 68.1927
2d, income, 6a, "A"
1917
2d, income, 6a, "B"
1917
Miclilgan Central— 68
1909
Coupon, 53
1931
;
Jack. Lan. A Sag.— 63..:
1891
Mil.L.8.AW.-Mich.Div.lat,68.1924
Aahland Diviaion- lat, 6s . .1925
126
127
1
1
)
1
1
100
1
1
123
1
Incomea
Minn.ASt.L.- Pa Ex., Ist, 78. 1909
1891
2d mortg., 78
Southwest Ext.— 1st, 78
1910
Pacific Ext.— lat, 6s
1921
Impr. A equipment, 6s
1922
Minn. & Pac.— lat mortg., 5s. 1936
Minn.S. Stc. M. A At!.— 1st. 58.1926
Missouil Pacific— Trust 5s. ..1917
Mobile A Ohio— 1st ext., 68...1927
Ist pref debentures
>
2d pref. debenturea
.
i.
A Cairo— Is, g<iar.;...1931
Morgan'a La. A T.— 1st, 6s.. ..1920
St. L.
1
1
. )
10-40, gold, 6a
1921
Pons. & At.— 1st, 6s, gold. .1921
Nash. Flor. A 8. 1st gu. 5a.,193
Lon. N. O. A Tex.— lat, 4a.... 1934
iioii
2d mort., 58
1934
54
78
100
120
117
118
1081s
HI
103 "a
83>2
84<«
.".438
1141V
121>2 122
1123g
101
90
e»
115
•143
•140
138 141
126
10313 104%
113
10812
110
67 •« 70
44
118
115
99
.•J,
35
109
132 1 33
123 la 125
98
123
97
31
100
A Shawt.— 1st g. Is. .1932
St. Louis A Chic— 1st, con. 68.1927
St. L. A I. M.— Ark. Br.,lst,78.1895
St. Louis A San Francisco1919
lat, 6a, P. C. A
Car.
121I2 123
..„..
no's
I
105%'
.•
10513 108
30
86
105
88
. .
1895 101 1«
97
1987
98
93
Equipment, 7s
lat, trust, gold,
5s
Kan. City
& 8.— 1st,
A
Wn.—
107''9
68, g. -.1916
Ft. 8. AV. B.Bg.— lat, 6S...1910
St. L. K.
1st, 6s. . .1916
So.
Kansas Mid'd.— l3t, g. 4s. ..1937
Duluth— Ist, Ss. . . .1931
St. Paul
A
109
1917
2d mortgage 58
Paul Minn A M.— 1st, 78.. 1909
1909
2d mort., 63
Mlnneap. Union- 1st, 63....1922
109 IIOI2
110
Mont. Cen.— 1st, guar., 68..1937|i
116
Eaat. Minn., lat div. lat 5a. 1908
San Fran. A N. P.— Ist, g., .'>8.1919
65
119 120'aliShenandoah Valley— Inc., 68.1923
SodusBay A 80.— Ist, 5s, g...l924
106 lallOSia South CaroIiua-2d, Oa
1931
10714110713 So. Pac. Coast- lat, guar., 48. 1937
101% 102 Texas Central— 1st, a. f., 7s. .1909
1911
lat mortgage, 78
90
40
Texaa ANewOrlcana- lst,78.1905
1912
Sabine Divi.slon, lat, 68
97
5612
Tex. & Pac, E. Div.— lat, 68.1905
1917
16
ToL A. A. A Cad.—6s
18
1919
Tol. A. A. A Mt. PI.—6s
Union Paciflo— Ist, 6s
1896
114 116
104iu
1st, 6s
1897
Ist, 68
1898
1161a
Collateral Trust, 63
1908
119
Collateral Ti-ust, 5s
1907
104 107
85 12
Collateral Trust, 4'2a
1918
1895
bl
65
C. Br. U. P.— F. c, 7s
Atch. Col. A Pac— l8t, 6»...1905
72 la 78
Atch. J. Co. A W.— l«t, 68... 1905
U.P. Lin. A Col.— lst.g.,58. 1918
75
Utah Southern- Gen., 78...1909
1909
Exton., lat, 78
Or.St.L AUt'hNo.- Con.58.1919
99^8
1908
Utah A North.— lat, 7a
117
74 12
1926
Gold.58
Valley R'y Co. of O.—Con. 6s. 1921
44
Wabash— Deb. M., aeries "A'M939
79
82
116
St.L.K.C.AN.- R.E.ARR.7S.1S95
12712
St.Cliarlcs Br'ge— lst,6s. .1908
1805
No. Missouri— lat, 7a
114
112
39%
102ialOS
88
90
Dividend bonda
1894
55
Bellev. A 80. Ul.— 1st, 8s... 1896 117
1923 105
Bellev. A Car.— Ist, 6s
Chl.St.L.&Pad.— l8t,ird.g.5a 1917 101
82
St. Louia So.— 1st, gtl. g Is. 1931
40
do
2d income, Ss. 1931
104
113
St.
.
lat, 78
...1918;
Naah. Cliat. A St. L.— 2d, 68. .1901!
New^ Orleans A Gulf— 1st, 88 .19261
West. Va. 0. A Pitta.— lat, 68.1911
^
N. O. A. No. E.— Pr. 1., g., 68.. 1915
N. J. Junction Guar, lat, 4a. 1986^
104
N. Y. N. H. &H.— Ist, rog,48.:903'*
ntscellaneonslBonds.
Ill's
U6>fi N. Y. A Northern- 1st, g.,»5a. 19271 llli^
1907
104% 2d, 4s
1927'
57
Am. Water W. Co.— lat 6s.
1907
N.Y.Ont.AW.— Con. 1st, g. 58.19,19
lat con., gold, 5a
98
N. Y. Susq. A Weat^—Deb. 08 1 S97
Boston Un. Gi»s— Tr. cer. 5a. .1939
2d, 4)28
1411a
Cahaba Coal Min.— 1st g. 78.. 1907
80
1937t 75
10318 103% N. Y. Tex. & Mex.— 1st, 49.. ..1912
Col. A Hock. Coal A I.— 68, g.. 1917
lOOOg!
North'n Paelflo—Dividd scrip ext "KMia
Consol'n Coal—Convert. 6s... 1897
1905
114% 115
James River Val.— 1st, 6s.. .1936
Equitable G. A F.— 1st 6s
145
Spokane A Pal.— l.st, 6a
1936 *
110 'Hackensack Water— 1st. 5s. .1926
133
134
St. Paul A N. P.— Gen., 88.. 1923 118%
Henderson Bridge- lat g. 6s. 1931
1901
123% 125
HclenaARcdM'n- lsl,g.,as.l937 100
Iron Steamboat Co.—es
I48I3
DulutbAMauitoba— lst,g.6sl036 ' .. .. 108
Northwesi cm Telegraph— 7a, 1904
82 13 82%
Dul.&Maii.Uak.Div.— Iai68.1937 •
People's Goa A Coke ( ]atg.6s,1904
107
119 11919
North. Pae. A Mon. — Ist, 6s. 1938 106% 107
) 2dg.6s,1904
Co., Chicago
110
CoBurd'Alone— 1st, 63, gold. 1916! 109
Philadelphia Co.— 1st a. f. 6s. 1898
Qpnp.
7s. 19j0.
CfCurd'Alcncgen.lst. g.,6s.l938! 107
^1
West. Tel.. Union—
*No price Friday; these are the
Ask.
;
8.
A Milwaukee— Ist, 73.1898 120 125
Win. A St. P.— 2d, 7s
1907 132 135
Mil. A Mad.— 1st, 68
1905 116
Ott. C. F. A St. P.— Ist, 53.. 1909 lOSia
Northern III.— lat, 5s
1910
Chicago Rock Island A Pacific—
Des Moines A Ft. D.— 1st, 4s. 1905 82
1st, 2)23
1905 53
Extension, 43
82
1905
Keokuk A Dca M.— lat, 5»..1923 1021a
Chic. A St. Loula— lat, 68
1915
Chic. St. P. A Kan. City— 5a. .1936
Minn. A N. W.— l.st, g., 58.. 1934
Chic. St. P. A Minn.— 1st, 6a. ..1918 125
No. Wisconsin- 1st, 6s
1930
St. Panl AS.
l.st, 6s
1919 126
Chlo. A W. Ind.— 1st, s. f., Os.1919 113
General mortgage, 6s
1932: 1181s
Cin Ham. A D.— Con. s. f., 78.1905 124's
2d, gold, 4123
1937
Cin. I. St. L.& Chic— l.-it,g.,4s.l936
Consol., 6s
1920
Cin. Jack. A Mac.— lat, g., 5s. 1936
65
Cl.Col. Cin. A Ind.— 1st, 7a,8.f.l899 1211a
Consol. sink, fund, 7s
1914
Clove. & Mah. V.— Gold, 53...1938 107
Colorado Midland- 1st, g., 6s.l936
ColumbiaA Grecu.— I8t,6a...l916 100
2d, 6s
1926(* 80
Col. A Cin. Midland— 1st, 6S.1914I' 90
Del. Lack. & W.— Convert. 7s,1892j* 106
Mortgage 78
19071 134
Syra. Bing. A N. Y.— Ist, 78.1906| 133
Morris & Essex— Ist, 7s
1914 146
2d, 7s
1891. 104 18
Bouda, 78
1900 - 120
7sof 1871
1901 * 125
t
Louis Division, lat, 6S...1921
2d, 38
1980
Nashv. A Deoat\ir— l8t,78..190O
.1907
Chic.
C—
St.
7s. ..1898
Bid.
.Northern Paclflo— (Contlnuod)—
. .
Kan. C.Wyan.AN.W.— 1st, 58.1938
L. 8h. A M. 80.— C. P. AA.—7S.1892
Butr. A Er.— New bouda, 7a. 1898
Dot. M. AT.-lat,7a
1906
Lake Shore- Di v. bonds, 78. 1899
Mahon'g Coal RR.— l3t, 58.1934
Lltchf. Oar.A West.— lat 68. g. 1916
Long Island— lat, 7a
1898
N. Y. & R'way B.— 1st, g. 58.1927
2dmortg., Inc
1927
N. Y. A M. Beaeh— 1st, 78.. 1897
N. Y. B. A M. B.— 1st, g., 58.1935
Brooklyn A Mont.— Isf, 68. .1911
1st, 53
1911
Sralthtown&Pt.Jeff.— lst,78 1901
Louisville A Nashville—
Cecil.Branch, 78
1907
Pensacola Division, 6s
1920
126
SEOURITIEa
Ask.
92
CeuLWashiugCon— l8t,g.,6H.1938
1038* 88
Kq.AInip.,g.,5s
92
Norfolk A WeU.— General, 6a. 1931
Mobile A Birui.— 1st, g.,58..1937i ....
Now River, lat, 6s
1932
Alabama Central— lat 68.. .1918 *114
Inyi. A Ext., 08
1931
Erie— lat, extended, 7s
1897 1191s lai"*
AcQustmont M., 78
1924
2d, extended, .58
1919 118
110
Equipment,
1908
4ia3
5»
1923
3d, extended,
Ogd. A Lake Ch.— l.st oon.6.a.. 1920
4th, extended, 58
1920 117
103
OBIoCnd.AWest.-l3t
pret.5a,1938
5th, extendod, 48
...1928
140
1938
Boorgan. rto.,2d, 58
l8t, eonB., fd. coup., 7si.....lv20
Oblo it MlHS.—Coua., S.F., 78. .1898
Keorg., l8t lien, 68
1908 105
ZdoonBol. 7«
1911
B. N. Y. A E.-lst, 7s
1916 139
Bpringtield Div.— Ist 78
1905
N. Y. L. E. A W.-Col. tr.,6».1922
1932
General 5a
Funded coup., 5a
1969 87=8 89"*
1936
Ohio
River
lat,
5s
RR.—
Income, 63
1977
94
1937
General mort., gold, 5»
Buff. A S. W.— Moitg. 68. ...1908
106
So.1921
Ohio
Gca. m., g., 48
Jefferson- 1st, gii. g. 5a
1909 1051s
Oregon A California— 1st, 5s. 1927
Eureka Springs R'y— lat,68.g.l933
Pennsylvania RR.—
Evan. A T. H.— lat, cons., 68.1921 116
Pitta. C. A St. L.— Ist, cp., 7s 1900
Mt. Vernon— 1st (ia
1923 110
Pitta. Ft. W. A
l8t, 78. .. 1912
Evans. A Indian.— 1st, cons. .1920
2d, 78
1912
Flint AP. Marq.- Mort., 68.. .1920 laiifl 122
3d, 78
1912
1st con. gold, 5s
1939 10314 105
Cler. & P.— Cons., s. fd., 7s. 1900
Fla. Con. A Pen.— Ist g. 5s.. ..1918
......
4th.slnk. fund, 08
1892
jGal. Har. A San Ant.— 1st, 68.1910
100
St.L.V. AT. H.-lst,gu.,78.1897
2dmot-t., 78
1905
2d, 7a
1898
Woat. Div., 2d 6s
1931
2d, guar., 7»
1898
Ga. 80. A Fla.-lst, g. 6s
1927 95 100
95
Peoria A Pek. Ulon— Ist, 68 .. 1921
Grand Bap. A Ind.— Gen. 5s.. 1924
2d mortg., 4128
1921
Green B. W. A St. P.— Ist 6s.. 1911 82 ......
23
Phlla. A Read.— 3a pref. convert
2d income, 1st subs, paid
...
1932
Housatonic— Cons, gold 58.... 1937 ibe' IO6I2 Pine Creek Railway— 6a
IPitta. Cleve. ATol.— Ist, 63.. .1922
N. Haven A Derby, Cons.58..1918
Pitts. Junction— Ist 6a
1922
Hous.&Tox.C— 1st, m. 1. 78.Tr.Teo.
1932
West Div. 73,Tru8t recelpt3.1891 113 115 JTitts. Mc. K. A Y.— 1st 6s
Pitts. Painav. A F.— lat, 5a..'.191
Ist Waco A Nor.— 7s
1901 105
Pitta. Y. A Aah.— Consol. 5a.. 192
2d m.8a.M. I. Tniat receipts. 1913 120
75
76
Preac't A Ariz. Cent. Ist, 63,g.l91(
Gen. mort.6s,Trust receipts. 1925
1916
2d income, 68
Illinois Central— 1st, g., 48 ...1951 107 ifl
93i2i
9113
Rich.
A Danv.- Debenture 63.1927
Ist, gold, 3133
1951
Equip. M. a. f., g.. 58
1909
Spriugf. Div.— Coup., 68.... 1898 112
Atl. A Char.- lat, pref., 7a.
897
Middle Div.—Keg., 5s
1921 116
1900
do.
Income, 6a
C. St. L. AN. O.-Ten. 1., 78.1897 117
117
120
RomeWat.&Og.—
lat
78.1891
M.,
Ist, oonaol., 78
1897
St. Joa. A Gr. Is.— 2d Ino
1925
2d, 6s..
1907 117
Kan. C. A Omaha— lat, 5a.. 1927
Gold, 5s, coupon
1951 114,
97I4 8t. Louia Alton A Terre Haute—
97
1951
Memp Div., lat g. 4s
4d mort.. Income, 7a
1894
Dub. A S.
2d Div., 7s ...1894 10818
Ind. D. A Spr.— Ist 7s, ex. cp.l906
Ind. Deo. & West.- M. 58
1947
2d M., inc. 5a
1948
100
1898 I2219
Bid
A Oa.— (Contlaned)—
70
Ced. Falls A Minn.— 1st. 78.. 1907
Ind.Bloom.AW.— 1st, pret.7s.l900 117
97
93
2d, 7 3-103, P.
l8t,C.
SECURITIES.
A8k.
Bid.
Railroad Bonds.
.
114
15
25
105
45
50
55
45
105
110
105i4llO«
101
IIII9
113
II4I9
1071s
95
89
95I9
96%
98
102
114Js,115
113
113
116
113H
106
105 >a
110
iii'aJii'*
—
1
. . .
1
.
!
1
93
109
96
100
1
1
1
'
104
iim
80
>102ii
1
1
.
1
latest quotations
made
thla
week.
92:it
''97»i
1121a
115
106V
THE CHRONICLR
202
N«w fork
1, 1880, is
Bxnk Statement for the week ending Feb"
We omit two ciphers (00) in all cases.
City
as follows.
Bamub.
|00«
omUttd.)
Bank of New Tork..
Manhattui Co
Surpltu.
$
c
Ab«Hc»
Pfaeolx.
Cllty
TnMMmen'g.
Obemloal
Kerohanta' Kxob'nge
SkUatln NaUonal
Bntohora' ft DroTen'.
Tradem
Ofvenmoh
LMtber Mannfaot'n.
Serenth NatluoaL
•teteot New York...
American BzchanKe..
Oommeroe
Broadway
MaraantUa.
Paolflc
Bepnblle
OiMtbam
North Amerloa,
SasoTor.
600,0
400.0
750,0
600,0
600,0
1,000,0
1,000,0
300,0
1.500.0
OltUeas'
ITaMiaa
Market dt Folton.. ..
Bt. Nicholas.
Shoe A Leather
Oorn Sxohange
OMtlnental.
Oriental
Importers' A Traders
Park
North River
Central Natioi al.,...
Becoail ^itiontl ... .
Nlntli VitioDal
First National
Third National
H. Y. Nat 'I Xzohangc
Avenne
Oerman Exchange...
Vitth
Senaanla
Oaited States
unooln.
earfleld
ruth National
Bank ot the Metrop..
West Bide
Seaboard
Sixth National
western National...
3,<>04,:i
6,K90.9
8.117,9
2,747.f
91i«.5
66i-,l
1,230.2
3,003.2
1,270,1
6,713,9
a.396.8
4,316.8
13,998.6
2,966.0
2.872.6
V. York.-
$
Jan. 4,.,
"
11...
118,604. 8
118,604, 8
118.773,.2
118.773,,2
li0,483,,6
"
18..
25...
Tab.
1..
4,7980
15,656.8
3,144.0
3.14l.,7
3,47.i.0
284.0
705,7
290,5
1,499.6
5,489,0
6,024.6
2,150,0
C2.92,%2
24,b9P,5
2.213,1
1,531,1
19.834.6
8.461.0
6.067,0
6.217,6
23,102.2
605,(1
8.60ii,l
1,422.9
3273.1
693,0
30J,6
934.9
343,0
388,0
117,1
207,0
154.5
157,9
1,010.8
175,0
697,8
356.7
97,8
3i5,0
40'A2
259,7
389,6
235,0
643,u
11.599.3
3,942,0
2,874,6
912,0
495.8
121,0
563,7
255,5
319,4
6,107,8
307,4
138,4
417.2
289,6
231.»
752,9
737,8
458,7
394.5
498.9
258,9
296.;
91!
228,4
532,0
854,0
654.7
213,4
4,089,0
5.S48.6
180,8
237,7
2,2011.1'
l,ai<4,!-
998,3
155,3
166,7
1,646,6
764,0
0,4
1,465,0
l,b80,0
1.606,2
4,514,4
1.797.3
7,4.S4,4
51,0
446.0
258,2
465,0
610,0
433,6
2,989,6
934,5
1»2,8
174,7
1,260.8
1,468.8
2,470,0
2,S8!>,5
2 961,3
10,101,2
4,164.9
2,8>6,7
2 501,0
4 694.t.
41-3.8
2.820.3
2 839,1
1 66a,l
4.288.6
2 167,0
612,3
231,6
145.8
1,737.4
t
3,966,0
5,191,6
23,04 8,6
27.'i,0
6,0
2,706,(1
'2,8:i7,0
2.789.7
12,810,7
4,430,9
3.454.7
2,9n9,2
8,65.'',7
3,054,7
3,648.1
1,918,2
5,129,3
2,245,0
3,94 i,0
11.495,2
3,993,0
DevostU.
$
$
$
I
LrvUa.
Specie.
399,689,3
4UO,347.0
403.561,4
400,283.7
404,272,0
77,427,6 26,741
80,682,8l29,02i;6
82.387,0 30.468 5
89,622.6j31,403,4
90,066,2 31,609,4
OUarirm.
CiT'i''.
409,6.52. 413,738.5 776,068.8
414,754,;813,743.4 742.143.6
420,257, 5I3.749.6 709.772,9
423,977. 4.4.315.0 689,631,6
429,188, 6 3,337,7 762,925,7
I
6577,5 132.742,6 2.635.5 100,419.6
9,019,4
8.816.3
5.621,4 139.457.3 2.636.9
8,864,l| 5,611,3 131,301,0 2,587,5
93,419,2
94,863,6
93.2Sl.li 2.137.0
73,071.4
76,076,5
69,189,2
•
35,132.3
35,132,3
26...
1...
We
2.951,7
4ll2,(l
7.(j89,ll
65,544, 9 153,790,2
65.544. 9 153,578,2
65,544,,9 154,640,5
Jan. 18...
3,5,132.3
26,126,0
26,106,0
26,054.0
93,479.0
94,193.0
94,496,0
two ciphera tn all theee Aguret.
delphia, the Item '' due to other banks."
^*
3,247,2
12,168,5
3.282,1
4,4^1,0
1,862,0
Beaton.'
Jan. 18....
" 26...
yeb. 1...
"
Feb.
4,6i'0.7
8.9711.6
174,7
69,1
18.952,0
Loans.
SutuIm.
Basks.
Fhlla
781.2
306,5
3.999,9
2.015,4
2,9»3.0
6.438,i
1,54.S,1
718,9
349,6
914.0
27B.4
481.3
7U9.8
118,9
496,3
782.5
180,9
191.9
350,0
747.6
8.7
2.107.1
3,304,0
1,178,1
2.683,8
1,293,4
2.638,4
14,784,0
11,382.5
359,1
745,0
1,424.9
4,092,4
711,3
2, '12 7,0
22,117,8
vo,aii,a
i.gi",*
2.'i8.0
4,6-.
3V!,7
1,560.8
74 6.9
2,675,8
913,4
24 6.3
ll,4tfn„"i
4,528,7
2,197.0
99,3
132, H
300,0
1,017,1
2,79tf,<i
1!.I182,B
62.862.7 57,620.9 404,272.0 00,056,2 31,509,4 429,188.6
Total.
"
16.03il.('
235,2
6,997,4
3,546.4
5.194.9
1.964,1
4.3i-5,l
s,66o.'6
Mrst Natlonal,B'klyn
204.9
3.480.8
15.644,"
566,7
335,1
142.1
4.629.0
2,206.4
277.0
3B4,9
300,0
250.0
200,0
750,0
600,0
100.0
200,0
200,0
600.0
300,0
200,0
150,0
300,0
200,0
600.0
Oerman- American....
Ohase NatlouaL..., ,-.
11.1.4
1.36,1
1,3311.0
21,>'V..i
1,180,9
1,000,0
New York County..
4.698.0
12.896.6
2.166.9
25,191,8
4.154,7
607.6
103.0
742.0
287.8
1,602.6
637.0
3»7.8
96,6
648.0
246,3
300,0
760,0
6jO,0
Bowery
33'S.O
2U6.(>
240,0
250,0
3,200,0
2,000,0
....
, ,..,
9400
4.975,0
697,5
2,000,11
River
Fourth NatioDsl
2.607.8
9,215,11
10,575,2
4.841.0
1,293,8
280,3
402.3
195,6
.100,0
trmui
SECURITIES.
11.130.0
10,322.0
8,043.6
7.922.0
9,038.0
7.287,5
Bank Stock
BANKS.
Bid.
210
220
Am. Kxch...
162
163
Aabury Park
Bowery
Ma
305
...
Obase
148
145
345
Hud
River..
Im.
Trail's'
420C 4300
475
City
185"
Citizens'
Columbia
230
Commerce... 200 210
Omnmerclal.. 105 112
OonUnental 135 13
Oorn Exch, 240
Bast Kiver. 166
Uth Ward.., 160
Mfth
200
580
1200
2000
14th Street.. 163
Vearth
255
200
Sixth
St. Nicholas. 115
State ol N.Y. 112
Third
130
167
127
10
1
250
New York...
248
9(1
Hill.
216
Western
96
West Side.. 200
175
252
166
130
150
118
1st men..
Br'dway
&
7».,
1
900
114
7tliAT. -St'k.. '226
let mort,, 58. 1904
105
mort.. 59, 1914
104
B'way Surface b'd9...1924 105
Bourta guar.,5s, 1905
89
Brooklyn City— Stock
160
Istmort., 68, 1902
105
Istmort., 7e, 1908
lOH
Central Crcsstown— St'k.. 140
let mort., 69, 1922
lis
Cent. Pk.N.A E.Kiv.— Stk, 115
Consols. 7,9, 1902
118
Chrlst'ph'r&lOth St.-Stk. 135
Boml.s, 7», 1898
110
Dry Dk.E,B,<ft Bat'y— Stk 136
Xsl mort.. 7s, 1893
106
IXD. E,B. * B.— Scrip 68.. 100
Blf;hth Ay.— Stock
182
M
30
138
280
106
106
108
90
162
106
110
145
121
120
121
140
113
1.38
108
103
186
I
&
Gr'nd
Istmort,,
42d
St,
PTy— Stk.
St.
7h, 1893
Minh,&
114
140
92
114
59
Honst W.St.& P.* "y—Stk. 200
1st mort, 78. 1894
lt»
Ninth Ave
105
Second Ave.— Stock
1(13
let mort, 58, 1910.
Sixth Ave.— Stock
Istmort, 78, 1S90.
Third Ave.— Stock.
Bonds, 59, 1937
Twenty-third St— Stock..
Istmort, 78, 1893
105
190
1P5
240
260
107
Phil,
Preferred.
1
K. C. Memph.
Birm....,'* 47'.
Louisville Evans.
StL.'
Easton
Elmlra
I
1
I
---[
C(in9., 5s, coup., 1919...! 11313'
|8
1
4^8, Tiust L<»an
65 Hi
6-1
Perkiomen— Istse,
BONDS.
iPlilla.
M
I
105
Bar.tem. .vasa,- 68, new..
Freem.Elk,<feM V,— l8t,6s
122
Unstamped 1st, 68
-115
K. C. Ft Scott & Mem,,68
*160
K.C. Memph. <fe Birm—ob
Kan. Cit. Mt Jo.* C. B,— 7s ' 21
»9
K. City Clin. A Spr'd.-68
Little R. & Ft Sm.-78... 'log
Louisv.Ev.*StL.— Ist,6s"l0"'«
"'^^
2d mort, 2-68
Mar. H. A Ont— 1925, 68. ••1923, 68
^'S*'^'
MexicanCen—49,, 1911-- * ^'i^^
•Sy'^
Istcon, lnc.,38, 193-<
2dcon. inc. 3», 1339... '.^I'a
N. Y. A N. Eng.-lst, 78. *l?6ia
Istmort., 8s
i.\°,''2d mort, 69
ll'li^
2d mort, scaled, 38 ..- 105
*
& St L,— 78,cp.
43
lU-a
60
104
ids"
Pltt.ahurs Br..Ba
BALTI.MORE.
RAILROAD STOCKS
Baltimore & Ohio
—
l8t pref
I
•
..
2d pref
Central Ohio
lOO
1(17
200
60
Pi ef erred
Charl. Col. A Augusta
12=4
Western Maryland
RAILROAD BONDR
Atlanta A Char.— let, 7s.
Income, 6s
Bait.
<fe
Cent Ohio— 6s, 1890
Char. Col. &
Aug
A
36
59
63
108
102
105
103
109 "a
YaQ.--l9t,68
-let, 7s
Bait— Ists.
Cin. Wash.
2d. 58
3d. 31
l9t Inc., 5.9, 1931
t
I2014
Ohio- 4s, 1935...
CapeFearA
64>il.
100
14
Seab'dAKo'u'ke— 59, 1926
West, Md., 3d guar., 69.-
WU. Col. A Aug..68.l910.
70
Last price this week.
122
i'lgi-j
1
|
109
Brooklyn G«8-Light
Citizens' Gas-Light
Bonds, 59
111
|
,78
People's (Brooklyn!
Williamsburg
70
103
Bonds, 69
96=4 97 4 Metropolitan (Brooklyn),.
Consolidated Gas
Mnuicipal—
Bond9, 78
IHO
Hoboken..
A
City
Jersey
Fulton Municipal
i'id
116
Metropolitan— Bonds
Bonds, 6s
107 4 108 4
Mutual (N. Y.)
Equitable
102
100
Bonds, 6a
Bonds, 68
lis
Nassau (Brooklyn)
100 102
Scrip
—
67
....
loo
Bank Note Co
—
44
15
91
1b8
A Cnar. Air Line
120
117
1st 78, 1907
38
Brooklyn Elev'd— stock.. 34
...
314 33
Brunswick Co
8
California Pacific
let mort.. 448
C3h.A Atl.— Benetlc.tr rec.
Cincinnati * SpringJ
Comstock Tunnel
lat income 48
Cc'tmenial Con. & Imp..
do.
Trusteed stock
Cattle F. Tr.
Stk.
A At—
Pref
GFeorgla Pac— Stock
Ist 6»
.»
Consol. 68
Income 5s
-—
260
260
1U9
lL,>nawua
1st pref
Ist 68
614
80
46 4
ll64
394
6
17
13
112.%
81=4
2914
A Ohio
1
100
125
103
119V121
Ilia
108
Ist 6s...
Michigan
Mt
A C ho
Dee.&Eaft Sh. Ld.Co.
N.J. southern
N. O. Pac. Lai.d Grant...
Newp. N. A Miss. Val...
N.Y. V.'.S.A Buff
A
EO
1-25-
Newb. Dutch. A Conn
18
30
64
50
62
27
2d, 78,
A
Toiedo Peoria
Utah Central lat 68
West. N Car.— Con.Bs
West...
..
34
8
64
85
30
103
4^
30
33
1044106
Tru8t receipt9...
-3
H
101
Scioto Val. l9t, 7s,Tr. rec.
24
724
Ask,
—
L.N. A.AC C.& I.DIV„68
LoalsT, St, Louis * Tex.. 3134 32 Ij
MeriphisACha'Ht consols 114 120
23 '4
Mex. NatConst.ruct'n Co. 21
N. Y. A Green'd Lake, l8t
33
3d mort
48
N.Y. Loan A Imnr
17 4 N. Pac. P. d'Orellle Dlv..
40
Mls.-.onrl LIIVI8 oil
8
North RlT.Cons. Co.scrip.
20
O.I. AW.— 1 9t acclntcert.
15
2d ace. int. cert
U2\ Ocean SS. Co.- lat, guar.
821. Peusacola A Atlaotio
Postal Telegraph— Cable.
30
34 St. Louis
Chicago
28 >«
Pref
2
St. Panl E.A Gr.Tr.,l8t8s
6
75
Koely Motor
Lehigh A Wilkes.Ooal...
& Mem.
7I4
1
17c, "V9c.
<
Little R,
1'22
SECURITIES.
42
Am. Pig ! on Stor'ge war. -184
10
Am. Cattle Trust
I* tillers' A
80
123
lia
120
108
95
Stock Exchange— Unlisted Securities.
SKCUBITIE8.
A.m.
Gt Norihern Pref
OKO
lU. Coal A
106
P8
125
112
N. Y. and Brooklyn Gas Secnrities— Brokers' Quotation*
Bid. Ask
GAS COMPANIES.
Bid. Ask.
GAS COMPANIES.
Unl. s. Shore
110
IS
113»8 118
105 14
.West Chesfr-Con. 78, '9
Weft Jersey- let M.,7s-. 123 1251*
w. Jersev A Atl.-lal, 69 107 li
We9t Penn.— 68. 1893 ....
I
Per share.
101»9 102
A
I'lOO
* 97
9734I.
Catawissa 1st iiref
East Pennsylvania
Blmira & williamgport..
\'6i"
SchnyL R. E. S.— 1st 5s-.
Inil.lst m. Ss.
[Steuben.
lUnited N. J.—G. 4», 1923
iWarren & Frank.- Ist 7s
68,
PHIliADELPHIA.
RAILROAD STOCKS
Camden A Atlantic, pref
111=4
111
I3II3
Deferred incomes, coup
Phil.W. & Bait- Tr. c, 48 10218
Pitts, Cin,
6s" 103
c— Cons..
)9o2....|'lll'ai
.'•8,1898
. .
|
-
2rt,
68.
&
91
Chicdk west Mich. gen,5s ^ 93
88
Oonsol. o' Ver non 1— .""h.
Current Riv,-l8',58,1927 '100
•105
No,7s.:
Det. Lans, &
Wlsccn. Cent.— 1st M, »•
Income, 58
Erie—con.
R,, 1893--..
2d, 78, C.
Cons,, 78, coup,, 1911--.
Cons,, 68, g., I,S.C.1911
Imp., 68, g., coup,, 1897.
Cons. 58,, Istser., 1922.
*
Ogdens. & L.
autland-l>t,
A
10? Hi
General mortg. 48
Philadel. A Read,-lst, 68 120
1
18
1»
|
1
68,
1107
lOlia'
'
58, '18
2d series 58, i918
Penn, dc N.Y'.Can.— 5s.'39j
Itoh. <& Topeka— Gen., 48 ' 83>»
5*^4
Iicome, 58
Burl. <BMo. R. InNeu.—
'1°
Exempt, 68
Non exempt, 6s
Plain 48. 1910
L---Chic. Burl &North. st Ss. ' 99
24
1101, 114
'104
R.,'98 117
13914 140
2d, 79, reg,, 1910
Cons, 6s,C, &R,, 1923.. 137
North Penn.— 1st M.. 78. 117'ii'
132
General mort. 7rt, 1903.
1(9
N.Y. Phil.&Norf —1st, 6s
49'4
Income. 6«
Penn.— Gen. 6s, coup.1910 i:^3
Cons. 69, coup., 1905 --.' 121V
154
|
lie
104
Conaol. M.. 5s
•176
Portlai^d Saco <fe Ports.. .il^J
S"*
^umnjit Branch
Wisconsin Central
Preferred
isois
116
120
Leh.V.— 1st 6a,C.A
117^,
Old Colony
& Mass
37
35
10312 169"
120
115=4 116 Si
2d mortg., 78
I
Vermont
llOV
A Araboy.— M. 58.
& Wilm,— 1st 6s,.
Harris. P. M't J.*L.—48.
Hnnl'n * B. T.— 1st, 78..
Preferred
I* 50
130
Maine Central
Hanch. ster& Lawrence.
1* Igi"
Mexican Central
*.48'b
N. Y. A N. Eng. com
& New Eng., prel..
Northern
JTorwich & "Worcester
Ogdensh. & Lake Cham..
60
41
-
&
Y.
I
RAILROAD BONDS.
•
90
"55 '9
30
55
230
|
Erie
Allegh, Val,— 7 3-108,'96.
Inc. 78, end. c"n(i.,'94.Belved. Dela.— Cons, 4s.
Bella Gap— lat M,, 7s
Catawisaa— M, 78, 1900, Cleartiflil & Jeff,— 1st 6s.
Coimeitiitg- 8a
Del.*Bil.B.-l8t78, 1905.
31.
69 '(
j
Connecticut A Passump,. *115
...
225
Connecticut River
*140
Eastern
146"
Preferred
* 8. "a
Pltchbiirg, pref
Flint* Pere Mar(iuette..l 22
27
' 91
Preferred
Kan. C. Ft Scott & Mem. x*70
&
'70>,
54 U
]
A Lewlston
United ro'9 of N. J
West Jersey
West Jersey A Atlantic.
I
I
69
I
Sunbnry
25S
.*
Concord
*
44^4
6318
,
Pennsylvania
kXl.
97
260
108
8t.N.Ave.l 41
l8tmoit., 6s, 1910
2d mort., Income, 6s
,*2«1
17U
,
Neaonehoning Valley
Northern Central.
North PennHylvania
|*207>
I
New York
Brokers' Quotations.
ElghlhAv.— Scrip, 6871914 106" 110
42(1
*217
*I6934
,*
9
ISH
Central of Massachusetts'
,* SOH
Preferred
Chic. Burl. & North'n....,* 33
27'»
Chic. <S West Mich
*
8'4
Cleveland & Canton
165
—
25
32'j
*
Ask
Bid.
Broad Topi
—
Cily Railroad Secnrities
itA'caei-at. ol h us. x . —tivlt.
*
Prefer' ed
Lehigh Valley
Llttle-SchnylklU
Miuehili * !:<. Haven
t
California Southern
130
Shoe&Leath. 160
Mercbauts'.. 163
Merch'ts Ex. 122
Metropolitan
8
Metropolis... 325
iMt, Morris .. 3HB
166
260
230
teeventh
M'ohs'& Trs'. 220
Mercaiitile... 220
2R5
175
Park
Phenix
14(1
Produce Ex, 110
Republic
140
Seaboard
Second
325
Manhattan,.. IS5
-Market* Ful 210
Mechanics'.. 210
Murray
Pacific
People's
Madison Sq..
.
eallatln....
15(1
Irving.
Chemical
Fifth Ave...
Jlrst
<fe
Ask.
SECnRITIKS.
Ask.
Huntington
4tchl8on<t Topeka
Boston & Albany
Boston & Li.well.
B'Bton & Maine
Roston & Providence
t
Bid
N. America..
North River. 146
Oriental
215
666
187
Leather Mis' 248
if.»
3! 6
Chatham
270
Greenwich..
Hanover
Bntchs'ilJ.-. :87
Central
Germaula
130
Bid.
BOSTON.
RAILROAD STOCKS,
Preferred
N,Y. County, 45(7
N,Y,Nat.Ex. 135 115
Ninth
167
400
German Am. ri3
German Ex. 260
275
Broadway...
BANKS.
Ask.
Bid.
Garflold
99
Boston and Phila-
— Latest prices this week.
BANKS,
Ask
America
List
93.395
2,129.0
93,453,0 2,1-^8,0
f IncludinK, f or
(nnit
Qnotations in Boston, Philadelphia and Baliliuore.
Following are quotations of active stocks and ixinds. A fill
list is given in the Chronicle the third Saturday if each month.
t
*
600,0
82S,0
661.4
6-9.0
694,1
'.',813.0
1,8'.'5,3
I/.
DepotUr.
Lttalt.
S
11,29",0 2.M0.O
260,3
499.4
200,0
700,0
1,000,0
P«ople«'
SpeHe.
•
1.668.7
1.309,1
8>3.H
1,773.0
1,782,9
5.M.U
1,000.0!
1,000,0, 2,342.8
219.0
1,000,0
800.01 6,052,9
130,3
600,0
1,000,0 1,372.5
287,7
800,0
214,4
200,0
1IB,7
300,0
561.6
600,0
«0,7
300,0
477, fi
1,200,0
8,000.0 1,631,5
3,281,'i
6,000,0
1,000,0 1,645,9
801,8
1,000,0
375,2
422,7
889,2
1,600,0
624,0
460,0
ICgehuilo*'
Eat
IMUU
2,000,0
2,060.0
2,000,0
2,000,0
3,000.0
Merobants'
Keotaanlos' <k
CapUaL
[Vol,
16
February
8,
THE CHRONICLE.
18Wi.]
203
Eamingt
Latett
Inxrestmjent
Reported.
Jan.
1 to
Latett Date,
Roads.
Wetkor3to\ 1889-9a
I
1888-0.
1880-90.
1888-9).
AND
*
I
Gulf
llaili^ad
Itttjellxfljcnjcje.
month—v'Z., January, March, May, July, September
Nivember, and s furniihed without extra charge to
regular iubicribers ff the Chromcle. Extra copiet
other
ar^d
all
'
subscribers of the Curomcis c 1 50 cents each,
per copy.
The General Quotations of Slocks and Bonds, occupyinjj
iix pages of the Chronicle, are now published on the
ttaird Saturday of each month.
are sold
and
to
to
others at $1
Latett JSamingt Reported.
Jan, 1 (o Latest Date.
BOADP.
I
Alleebeny Val. DccemVr.
Auufston <& Atl. Decemb'r.
Anniston & c:iu. Deoemb'r
*
200,407
9.929
14.088
469,691
24,439
494,130
140.839
1889-90.
$
183,545
9.257
7.933
386,973
32,398
419,371
119,322
43,060
21 281
91.751
1888-9.
.*
2,369,986
98.179
121.856
1 ,404,852
65,054
1,469,906
1,366,418
462,484
2,098.965
93,871
'J'. & S. Fe.
3d wk Jan.
1,17.3,496
Half owned .. 3d wk Jan.
97,424
Total system 3d wk Jan.
1,270,919
Atlanta Sc Cliar. November.
1,196,019
Atlanta
W.Pt Deeemb'r
8,697
416,533
All. ic Danville Decemb'r
39,200
Atlantic
Pac. 4tliwkJau
75.368
193.156
275,635
B.&O.EastLines Dceemb'r 1,020,754 1,314,001 17,311.976 15,437,360
Western Line.s Deoemb'r
495,529 451,325 5,1(0.509 4,71»,908
Total
Deccmb'r 2,1 1«,283 1,765,326 22,412.485 20,150,274
Bal.AO.Soiitliw. 3d wk Jan.
41,329
39,618
131.225
118.944
Bait. iV Poiom:^.c Decemb'r
133,480 113,224 1,633,733 1,539.124
Beeeh Creek
Decemb'r
78.307
85,115
800,141
913.334
Bir.Solnia&N.O. Decemb'r
3,186
2,903
25,076
22,3.')8
Bult.Roch.A fill 4th wk Jan
43,813
59,157
115,347
183,387
Burl. & Northw. Decemb'r
4,538
4,717
64,657
55,808
Burl. & Western Decemb'r
5,825
5,970
58,958
54,312
Camden & All. Decemb'r.
37,788
35,399
737,144
696,128
Canadian Pa<iitl<- 4th wk Jan 327,000 301,000
972.000
897,938
Cp.F'r&Yad.Val Decemb'r
35.935
28,910
398,41(1
328,1 99
Ceat. Br. U. P.. November.
90,752
82,258
753,197
830,352
Ceu.KK.A Br.Co Decemb'r
878,492 750,366 8,058,741 7,392.905
Central or N. J.. November, 1,172,311 1,174,5;)7 12,385,78: 12,200.261
Central PaciUc. November. 1,278,395 1,381,562 14,486.944 14,56.'^,915
Central of 8. C. November,
10,598
8.915
94,751
94.338
Centr'l Vermont Wk Jan. 18
72.754
68,093
225.717
199,043
Charlest'n&Sav Decemb'r
57,828
56,994
600.911
500,133
Chat.R'me&Col. Decemb'r
32,000
15,632
284,182
Clieraw. & Darl. November.
7,770
8,064
78.190
74,474
dChes. & Ohio .. 4tliwkJan
195,086 152,152
582,000
443,000
Ches. O. & 8. W. Decemb'r
187,779 183.117 2.125,777 2,000,010
Cheshire
56,400
Septemb'r.
58,074
475,547
438,470
Cnes. & Lenoir November.
6,965
7,046
67,238
71,915
Chic. & Atlantic. 4th wk Jan
75.789
54,605
221,595
109,651
Chic. Burl. & No November.
193.73-'
£38.367 1,821,812 1,842,92(1
Chic. Bnrl. & Q. Decemb'r. 2,482,092 2,167,673 26,778,312 23,789.167
Lines contr'l'a Decemb'r
717,684 606,373 7,289,304 5,953,59(;
Chic.& East.Ill. 4thwkJan
68,027
61,533
221.544
210,840
Chic. Mil. itSt.P. IthwkJan
561,000 544,804 1,795,000 1,055.909
Chic. &N'thw'u. Decemb'r. 2,182,964 1,940,6'27 26,185,280 25,832,974
Chic. & Oh. Riv Deccmb'r
6,958
7.703
73,752
63.4(19
Chic.Pco.&St.L. November.
32,790
27,233
344.119
280,012
ChicSt.L.&Pltt. October. ..
650,J30 591,968 4,815,196 4,470,820
Chie.St.P.iK.C. 3d wk Jan.
75,177
37,769
2J6,923
ll(i,745
Chic.St.P.M.&O. Decemb'r
583,539 457,576 6,422,644 6,416.320
Chic. & W. Mich. 3d wk Jan.
21,439
20.894
60,835
(50.122
Cin.Ga. & Ports. Decemb'r.
4,867
5,283
64.232
65,191
Cin. Jack. & Siai- 4th wk Jan
]3,.'30o
14,062
42,443
43,392
Cln. N. O. & T. P. 3d wk Jan.
75,019
67,327
225,131
201,159
Ala. Gt. South. 3d wk Jan.
36,993
36,324
J 10,285
102.240
N. Ori. & N. E. 3d wk Jan.
20,876
22,627
64,542
63.222
Ala. & Vicksb. 3d wk Jan.
13,292
11,881
42,020
36.222
Vicks. 8h. & P. 3d wk Jan.
12,812
10,973
39,093
31,001
Erlauger Syst. 3d wk Jan. 158,992 119.132
481,071
433.847
Cin. Sel. & Mob. IJecemb'r.
11,063
17,321
101,697
123,489
Cin.Wab.&Mich. Decemb'r.
44,175
40,009
528,849
487,411
Clev.Akron&Col 3d wk Jan.
13,209
12,105
41,047
35,451
Clev. ifc Canton.. Decemb'r
41,933
32.201
448,612
379,184
CI.Cin.Ch.A S.L 3d wk Jan. 2(18,189
191,307
621,745
572.41 <
Clev. 4 Marietta Decemb'r
20,965
22,48.^
250,57d
280,445
Color. Midland. :4th wk Jan
44.600
36,894
133,254
113.051
Col. & Cin. Mld..|3d wk Jan.
5,741
6,167
20,771
18.501
Col. Hock. V.&r.'Decemb'r.
184.996 220,503 2,509..'il8 2,893,970
C(dusa & Lake Decemb'r.
1,932
1,529
26,810
21,783
Coving.&Mac'n. Decemb'r
16.186
7,853
116,527
52,087
Day.Ft.W.&Ch.. Decemb'r
40,746
40,770
494,754
434,003
Deuv. & Rio Gr. 4th wk Jan 192,800 174,000
595,300
572,592
Den. Leadv.&O. November.
95,312
75,74o
9;^4,6(i(l
911,244
Den.Tex.A h'. W. 3d wk Jan.
68.182
50,714
184,420
140,0i)J
Det.Bay C.&Aly!3d »k Jan.
9,614
8,678
24.282
23,458
Det.Lans'gcfcNo 3d wk Jan.
16.045
15,603
47,876
44,843
DuluthS.S.&Atl 4th wk Jan
44.: 29
33,448
119,899
97,380
E.Tonn. Va.&Ga. 3d wk Jan.
127,380 117,631
390,824
335.099
EUz.Lex.&B.S... Deccmb'r.
62,933
89,532
815,830 1,008.090
Evans.&lnd'plii. 3d wk Jan.
5,139
4,712
111.861
14,405
Evans v. & T. n.l3dwk Jan.
18,565
15,151
43,710
43,756
Fitchburg
Decemb'r
494,974 473,518 5,933,802 5,574.804
Flint. & I'. Marc|.t3d wk Jan.
49,498
44,068
145,039
129,116
Flor. Cen(.& P. i.3dwkJan.
2.'i,958
8rt,057
28,807
78,258
Ft.Mad.&N'w'n Decemb'r.
2,350
2,831
25,959
27,978
Ft. W. Oin. & L. November.
26,198
21,683
283,701
246.920
Ga. RR. & B. Co. November. 165,900 163,229 1,468,832 1,381,657
Geo. So. & Fla.. Decemb'r.
45,5 .7
12,770
334.512
Gr. Rap. & Ind. 3d wk Jan.
34,757
35,469
96.011
l6i',94S
Cin.R.A Ft. W.!3a wk Jan.
6,200
6,943
18,748
19.986
Other lines
3d wk Jan.
3,154
2,975
8,313
8,324
Grand Trunk. ..jW'kJan.25 319,599 316,291 1,300,581 1,243,413
Chic AGr.Tr. W'kJan.'^S
66,546
52,682
285,426
230,626
Det.Qr.H.ik M. W'kJan.25
16,627
10,943
71,059
68,922
Atcb.
',
i«:
.V-
.
-
,
.
.
.
.
.
i
.
.
.
.
.
'
.
*
.
.
.
RAILROAD EARNINGS.
Vetknr Ho\lSS0-90.\ 1888-9.
I
5,016
6,686
45,1211
4139&
107,563
89,660 1.15.1,063 1,040,887
H(ime8t'n*8hon Decemb'r.
18.000
14,754
158,3051
155,743
[ll.Con.dll.&So. Decembr. 1,376,544 1,169,856 14,151.851 11,82'2,477
CedarF.&Mln. Deccmb'r.
8,570
8,080
99,7021
95,371
Dub. &Sio'][C. Decemb'r.
191.347 152,13'( 1.804,822' 1,742,39*,
Iowa lines
Decemb'r. 199,017 100,21
1,913,(127 1,837.769
Total all
Decemb'r 1,576,401 1.330,071 10,032,375 I3,0( 0,'245
Ind.Dec.&West. Decciub'r.
39,941
45,339
392,622
394,24a
Interoo'nic (Mx) Decemb'r.
125.280
74.625
[owa Central... 4thwkJan
25,700
29,3.16
119,169
1 10,392
Iron Railway... Dec<Mnb'r.
3,008
4, .505
40,659
00,127
J'k'uv.'r.<Si K.W,, November,
56,352
.37,608
387,5-24
409.945
Kanawhai^cOhio 2a wk Jan.
4,977
0,0-26
5,208
10,413
Kan. C. CI. & 8p 3d wk Jan.
4,587
3,913
14,564
12,169
K.(\F.8. & Mem. 3d wk Jan
84,408
236,190
80,354
252,617
K.C.Mem. & Blr. 2d wk Jan.
26,003
21,872
49,557
41.46a
K.C. Wy.&N.W Decemb'r.
46,800
32,622
436,370
294.294
Kentucky Cent. Decemb'r.
87,970
87.194 1,063,815 1,042,680'
Keokuk & West. 3d wk Jan.
7,234
5,901
19,704
17,705
KiuKst'n i&Pem. Istwk Dec
2,554
2,350
170 030
182,014
Kiioxv. <fe Ohio. November.
53,103
48,780
531,083
450,687
L. Erie All. & So Decemb'r
4,900
5,772
61,282
62,94a
L. Erie & West.. 4th wk Jan
73,892
65,063
186,494^
218,175
Lehigh & Hud.. January...
23,342
17,872
23,342
17.872
L. Rook & Mem 3d wk .Ian.
13,231
15,818
39,400
47,492.
January...
203,595 187,748
Lone Mand
203.595
187,748
La. & Mo. River. November.
42,629
37.530
423,577
418,39*
IX)ui8.Ev.& St.L. Decemb'r
87,485
90,732 1,050 695 1,028,894
Louisv.iNashv. 4thwkJan 535,175 478,702 1,569,920 1,398,847
Louis. N. A&Ch. 4th wk Jan
55,295
55,277
158.218
156,272
I-ouisv.N.O. & T. 4th wk Jan
IIO.KH
78,051
301,297
250,98a
I.OH. St.L.&Tex. January...
31,470
31,470
35,150
Ix)ul8v. South'n. Decemb'r.
27,000
Memphis & Clia» 3d wk Jan.
43,4'J9
43,148
130,357
119.964
tMexicanCent... 4th wk Jan 206,709
195,433
553,610
495,196
111,304
329,4119
tMex. National 4th wk Jan
86,292
287,637
{Mexican R'wav A k Dec. 28
69,365
59,0 i2 4,133,145 3,893.868
Mil.I..Sh.&\Ve8t IthwkJan
68,306
67,893
220,902
173,225
34.900
.Milwaukee & No IthwkJan
28,435
97,300
79,987
.Mineral Range. Decemb'r
9.415
8,568
109,369
99,564
142,5.50
.Minneap. &St.I,. Decemb'r
110,427 1,404,137 1,354,560
178.241
M.St.P. &8.H.M. Decemb'r.
95,442 1,631,412 1,102,498
63'),0(K)
Mo. Kan. cSt Tex. January
470,000
036,000
470,000
292.040 284.202
Mobile & Ohio.. January.
292,040!
284,202.
Moutana Union. November.
73,680
62,874
717,951
097,795i
Nash.Cli.&St.L. Decemli'r • 309,265
283,125 3,3(15,725 3,1-25.280
New Brunswick. November.
73,010
71,036
8;il.533
803,296
24,443
N. Jersey & N.Y. October.
21,495
•204.070
203,212
New Orl. & Giilt Decemb'r
22,029
21,888
182.063
169,080
N. Y. C. & H. R. January.. 2,923.406 2,710,1.50 2,923.406 2,710,150
N. T. L. E. & W. Deccmb'r 2,187.801 2,141,803 27.512,023 27,009,393
N. Y, Pa. & Ohio November.
609,990 492,037 6,062,272 5,094,260
N. Y. & N. Eng. Deccmb'r
473,266 429,870 5,650,304 5,340,065
N. y. & North'n. January,
42,002
42,910
42,602
42,9 lO
33,h23
N. Y. Ont. & W. 4th wk Jan
41,235
120,314
104.567
N.Y. SusQ. & W.. Decemb'r
124,230 123,094 1,402,460 1,445,902
Norfolk & West. 4th wk Jan
114.565
85,223
494,243
382,243
N'tJieast'u (8. C.) November.
59,490
50,951
553,558
556,980
North'n Central. Decemb'r
500.226 499,53f» 6,0(iP,957 6,203.395
Northern Pacific 4th wk Jan 387.867 414,197 1,138,885 1,183.39&
'25.135
Ogd. &LakeCh W'kJan.ll
11,313
8,117
18.704
Ohio Ind. & W.. Decemb'r.
129.888 118,650 1,434,167 1,489,978
Ohio&Mlss
73,0,i8
315,692!
4thwkJan
76,999
318,922
Ohio & Northw.. Decemb'r.
20,538
17,383
218,753
188,912
Col. & Maysv. Decemb'r.
821
926
10,901
8,63»
Ohio River
4thwkJan
10,914
9,523
44,601
38,093
Ohio Southern.. January...
44.966
46,12R
40,126
44,906
Olio Val. of Ky. 2d wk Jan,
3,237
2,133
0,246
4,063
Omaha &. St. L. Decemb'r
4-27.71
59.323
45.373
524,889
Oregon Imp. Co. November. 454,901 419,181 4,020,077 4,5-20,460
Oreg. R. <fe N. Co. November,
579,339 615,273 5,034,564 5,854,263
Ore.S.L.&Ut.N. November. 586,525 537,068 5,958.939 5,195,860
Oregonian
Decemb'r
7,402
4,314
72,940
70,313
Pennsylvania .. Decemb'r 5,495,264 4,808,082 61,514,445 58,17-2,078
PeoriaDec.&Ev. 3d wk Jan.
38.010
38.000
11,721
11,342
I'etersburg
4-29,125
379.213
November.
36,371
32,810
Phila. & Erie... Decemb'r.
360,820 2.57,164 4,689,136 4.373,041
Phila. ARead'g. Decemb'r. 1,054,942 1,400.512 20,075,252 •20,500,193
Pittsb. & West, n November.
1 15,874
114.511 1,286,188 1,164,952
Pitts.Clev.&T. November.
37,226
438,840
44,283
452.795
Pltts.I'ain.&F. November.
248,970
27,817
263,502
20,897
Total system 4th wk Jan
109,5i'»
54,089
102,021
55,715
Pt. Royal A Aug.' Decemb'r
317,608
26,845
25,205
315,757
Pt.Roy.iV: W'.Car. Decemb'r
335,578
39,520
364,788
41,169
Pres. &A riz.Cen. Decemb'r
108,561
11,400
11,714
128,508
Qnincy 0.& K.C. Decemb'r
216,703
243,958
19,888
19,080
Rich. ADanville. January. ..
525,300
440,800
525,300 440.800
Vir. Midland.. January...
136,900
173,800 136,900
173,800
82,70ti
Char. Col. &Aii. January...
83.500
82,700
83,56a
08,967
Coi. *&Greenv.'January...
78.100
68,967
78, 100
72,467
West. No. Car. .lauuary. ..
78.900
72,467
78.900
126.730
187.000 126,730
187,000
Georgia Pac .. Jan'iary...
Wash.O.A W.. January...
8,300
6,871
8,300
6,87U
0.31"?
10,45()l
10,450
A.shv. & Spart. January...
9,317
321,l'2d
227,400 l,144,530i
945,018
Total Sys'in. 4th wk Jan
243,615
Rich. & Pctcrsli. November.
25,597
24.821
270,115!
Rio Gr. West... Dcicemb'r
117,953 120.886 1,491,6341 1,366,622
Rome & Decatur Decemb'r
8,4(>0
4,200
Rome W. i& Ogd. Decemb'r. 301,041 267,368 3,586,106 3,358, 1 OX
44,178
22,678
136,051
87,878
St. Job. & G. Isl. 4th wk Jan
78,603
94,993
St.L.A.&T.U.B's 4th wk Jan
27,700
23,628
265,801
St.L. Ark. & Tex. 4th wk Jan
131,247
84,943
360,117
52,465.
8t.L.De3 M. & N. Decemb'r
4,651
01,030
6,178
424.705
St L.& San Fran. 4th wk Jan
169.200 153,011
454.040
60,11»
St. Paul & Dul'th January.
88,8291
88,829
00,119
394.117
509.377
3t P.Min.A Man. Janiiar.. ...
509,377 394,117
15,947
41,059
East, ot Minn. January...
41,059
15,947
44,053
74,322
44 053
MontanaCent, January ..
74,522
61,183
2-2,118
100,554
S.Ant.iAr.l'as8. 3d wk Jan.
37.480
27,818
24,667
8. t-ran.&N.Pac 3d wk Jan.
8,762
7,461
126,981
204,533
Sar. Am. <&Mun. Decemb'r.
18,673
25,410
11,844.
15,469
Seattle L. S. & E. 3d wk Jan.
4,137
5,093
831,948
65,4 45
9(5,712
Shenandoah Val Decemb'r.
92,000
South Carolina Decemb'r
123,506 1,352,609 1,269,031
121,041
So. PaeiHc Co.—
Gal.IIar.&S.A. Decemb'r.
331,061 344 ,922 3,937,291 3,804.676
966,495
Louls'a West.. Decemb'r.
83. ,167| 1,101,569
107,977
Morgan's Life r. Decemb'r. 654,447 58i: .-'•iU 5,452,017 5,2-26,10a
146,527
192,708
N. Y. T. & Mex. Decemb'r
22,333
15. ,839!
Tex. & N. Orl. |Docemb'r
180.8291 120. ,308 1,747.805 1,438,577
Atlantic sys'm Decemb'r. 1,290,647 1.151 ,050 1-2.431.390 ll,.'i82,375
Pikclflc systenv November. 2,840.257 2,930 ,127 31,52-',24H 32,291,-203dc ( liicai;o
HoiiHatouic
The Investors' Supplement, a pamphlet of 150 prges,
contains extended tables of the Funded Debt of States and
Cities and of the Stocks and Bonds of Railroads and other
Companies. It is 'vubl'uhed on the taut Saturday of every
Decemb'r
November.
•
.
.-
.
.
.
.
1
I
'
]
.
.
1
I
.
[
Total of
8o. P»c.
all
RR.—
November. 4,126,053 4,170 ,715 42,650,991 [42,721,921
. .
i
So. Div. (Cal.)iNovember.l
176,30b
189,00l' 2,108,393' 1,931,550
THE CHRONICLE.
204
Jan. 1
tautt Mamingt Beporled.
BOAOB.
WeekorM
188a-90.
Latest Vau>.
1888-9.
1889-90.
621,132
5.611,393
1,706,435
865,523
109.181
029,928
1,190,954
1888-9.
I
»
So. P*c. BR.
401.724
177,286
82,483
November.
November.
November.
November.
So. iJlv. (Cal.)
Arixona Dlv..
New Mox. Dlv.
Spar. Un. & Col
Btaten I. Uap.T.
Summit Branch.
13,035
53.439
91,333
83,849
212.519
20,00
7,3SI
Ueocrab'r.
Deoemb'r
Lykeus Valley Deoemb'r.
Texas .t Pacitlc ItUwkJiin
Tot.A A.AN. M. 4MiwkJani
Tol. Col. & Cln.. 4tb \vk Jan
Tol.A Ohio Cent. 4tb \vk Jan
Toi.ifc
(o
O.Ccu. Ex. Dccenib'r
3(i,482
8,397
20.898
.
|
Tol. 1'. & Weat... ItliwkJan
3(1,700
4th wk Jan
Tol. St. I.. & K.C. ,,„„„„„„
Union Piieide. Deoemb'r 2.784.708
Total Kv.stem) November. 3,7-'8,491
52,300
Valley oi Ohio.. November.
14.074
382,422
62,076
88,000
102,999
68.039
28,284
92,483
118,393
7,368
Vermont Valley Deoemb'r.
4th wk Jan
Wabash
Westcni of Ala. Deoemb'r.
West. N. Y. & Pa. 4th wk Jan
,
Deoemb'r
West Jorsev
W.V.Ceii.&Pitts. Deoemb'r.
Wheeling & L.E. |4th wk Jan
Wil. Col. cfc Au(?. 'November.
WlaoonBin Cent. '4th wkjan
Wrightav.&Ten. JDeec mb'r
164,()30
78,584
11,276
55,529
114,075
6,122,109
l,9ii3,589
916,725
93,82tj
Loul8.N.O.ATexa8.Deo.
Jan. 1 to Dec. 31...
Philadelphia AErie.Dec.
Jan 1 to Deo. 31...
921,183 1,012.212
82,731
529,791
621,289
100,327
66.938
80,894
21,341
17,400
20,825
5,552
81.456
95.741
23,155
88,269
115,303
8.624
68,011
71,699
19,33«
67,990
120,351
20,054
21
31,070,18230.193,.:
2,511,673
3,583,140 36,159,540 35,805,048
569.732
687,955
53,700
180,951
189,751
13,739
898,638
304,236 1,121,909
401,502
661,637
51,159
247,290
252,700
79,400
96.486 1,526.169 1,555,073
601.697
759,947
60,495
73,045
82,734
23,327
722,442
806,667
78.433
250.588
330,995
105.441
80,886
6,524
Mexican currency.
g Main Line.
Latest Hrogs Eanilnys by Weeks.—The
latest weekly earnings in the foregoing table are separately summed up as foUows:
On the .51 roacU included in the statement below, the gain
over last year for the fourth week of January reaches 13-45
per cent.
Atlantic & Pacific
tBuffalo Rooh. & Pitts...
Canadiiiii Puclflc
Chesapeake cS[ Ohio
CblcaBO & Atl.vntic
Chica«ro
&
Chicaco
Mil.
East, Illinois.
& St. Paul..
Clnciuunti Jack.
& Mack.
Colorado Midland
Denver & Rio Grande
. -
Duluth 8. 8. &. Atlantic.
•Grand Trunk of Canada.
.
"ChlcaKO
&.
Gr.
Trunk
Detroit Gr. H.
.
& MU
.
Iowa Central
liake Krie & Western
Louisville & Nashville...
Lioulsv. N. Alb. &Chic...
liOUlsvllle N. O. & Texas.
Mexican Central
1889.
75.368
43.813
327.000
195,086
75,789
68.027
561.000
13.505
44.600
192,800
44.729
310.599
66.546
16,627
25.700
73,892
535.175
91,751
59,157
301 ,000
15»,152
54,605
61,533
544,804
14,062
36,894
I74.O0O
33.148
316.291
52.682
16.943
25.336
65.063
478.702
53.277
78.051
195.433
86.202
67,893
28,435
33.823
85,225
414,197
73,058
9,523
55,713
227,400
22,678
23,628
84.943
153.011
5.'i,295
110,164
206.769
111,364
68,306
34,900
41,235
114.565
S87.867
76.999
10.914
54,089
321,125
44,178
27,700
131.247
169,200
212,519
26,004
7.381
36,482
20,898
36,700
382.422
88.000
28,284
118,393
Nexionu National
Milwaukee L. 8h.<t West.
Milwaukoe & Northern..
New York Out. & West.
Norfolk & Western
.
Northern Paeiflc
Ohio & Mississippi
Ohio River
Pittaburp <fe Western
Rich. & Danv. (8 roads).
St. Joseph & Gr. Island..
8t. L. Alt. &T. H. Brches.
St. Louis Ark. & Texas..
St. Louis i Ban Francisco.
Texas & Paciho
Toledo Ann A.& No.Mleh.
Toledo Col. <fc Cincinnati.
Toledo & Ohio Central..
Toledo Peoria & Western.
Toledo St. L. & Kan. City.
Wabivsh (cousol. system).
Western N. Y. <fe Penn...
Wheeling A: Lake Erie...
Wisconsin Central
Total (51 roads),
Inertase.
1890.
5,602,256
get Increase (1348 p. c.)
For week cndiu:,' January
25.
Deereate.
16,383
15,344
26,000
42,934
21,184
6,494
16,196
nriii<»
Earninw.
.
H" Eaminyt.
.
1
.
445,875
3,027,471
366,820
4,689,136
310.481
2,426.316
257,164
4,373,041
Southern Pacific Co.—
Jan. 1 to Dec. 31...
Louis'a Western.. Dec.
Jan. 1 to Dec. 31...
Morgan'8La.&Tex.DeG.
1 to
Dec. 31...
N.Y.Tcxas&Mex.Dec.
Jan. 1 to Dec. 31...
Texa8&;J.OrleanB.Dec.
Jan. 1 to Dec. 31...
Tot. Atlantic sys.Dec.
Jan. 1 to DoC. 31...
Toledo Col. -tCln... Dec.
Tol. & Ohio Central. Dec.
Jan. 1 to Dec. 31...
July 1 to Deo. 31...
Dec.
Union Pacific
Jan. 1 to Dec. 31...
Wabash (cons. sys.). Dec.
Jan. 1 to Dec. 31...
July 1 to Deo. 31...
Whltebr'st Fuel Oo.Dec
Jan. 1 to Dec. 31
July 1 to Dec. 31
Wisconsin Central. .Dec.
Jan. 1 to Dec. 31...
July 1 to Dee. 31...
331,061
3,937,291
107,977
1,101,369
344,922
3,804,676
83.167
966,495
654,447
581,420
11*.55|
644,425
,98,905 ,„,„433
1,760,393
1.339,954
,_„
51,578
816,9o7
61,919
486,981
265,378
,,, ,^„
•
Gal.Har.&8.Ant.Dee.
Jan.
234,561
1,037,013
_,
1".092
982,877
38.222
476,910
241,703
1,718,673
5,452,017 5,22r,,103 1,706,618
5,553
15,839
22,333
16,202
146,527
192,708
84,898
126,308
180,829
707,222
1,747,805 1,438,577
469.326
1,290,047 1,151,656
12,431,390 11,582,375 3,733,978
13,637
19,144
24,470
46,982
90,824
111,464
486,17.5
1253,649 1,193,127
308,161
639,975
729,804
798,075
2,784.703 2,511,673
31,070,182 30,193,521 12,370,6o9
311.741
1,119,339 1,089,927
12,974,-203 12,362,830 3,362,204
7,272,690 6,878,200 2,283,517
12,849
o,2.684
205,508
974,064
11,719,112
255,915
2,584,251
1,691,791
,23,719
^IHI?
67,283
^^HU
98,525
355,389
4,238,302
277,635
120.976
3,839,5(i6
2.485,441
2,153,268
1,568.303
1,028,821
501
del.32,888
43.37?
424,664
„ 434.895
3,570,240
9,595
„26,893
•-
51,494
713,087
* Adding the income from investments, net earnings in December
were $305,313, against f260.733 in 1888 for the ctlendar year,
$2,39-,878, against $2,600,277, and for the six months to December dlr
;
$1,556,276, against $1,596,794 in 1888.
ANNUAL REPORTS.
J
557
7,706
18.800
11,281
3,308
13,864
3ie
364
as follows
413
6,465
7.41
29,340
1886.
3.941
1,391
1,626
93,725
21,500
4,072
46.304
16,189
52,192
4,663
724.538
663,982
From railroads
From miscellaneous...
Net
inttrcst
7.081.842
8,230,747
1883.
$
$
692,278
1889.
9.951.163 10,632,067
9,189,974 9,554,221
55 2,892
461,507
„*,„.„
3,6^^,318
9,482,975
822,300
16,013,867 19,602.641 £0,729,180 18.957.593
11,422,854 13,388,570 14,044,710 12, 952,868
Total
Oper. esptnsea
4,591,013
6,214,074
6,684,470
5,961,725
3.415,526
3.30'',7e8
3,340,333
3,426,829
"17175,487
2,910,303
3,344,134
2,537,896
and
rentals
Balance
1,829
11,327
1.532
16,046
78,186
8.600
4.457
12,952
4,938,274
Fromooal
Taxes,
18?7.
$
Receipts—
26,330
21,341
5,552
25,155
19,336
20,654
304,236
79,400
23,827
105,441
& Hudson Canal.
year ending December 31, 1889. J
In the annual report published last week in the Chronicle
there was an error in the table showing comparative income
and surplus for several years, which occurred from the statement of " taxes and rentals" in the report, instead of " taxes,
interest and rentals." With the proper correction made, the
eurplus over and above charges in 1889 was $2,537,896, instead
of $1,542,556, as given last week, and the comparative table is
Delaware
CFw the
8,829
56,473
18
32,113
11.336
35.072
160,32'
t
,
Ii.
1889.
1888.
1888
1889.
Bnads.
34,830
43.1.*g
87,070
87,104
Kentucky Central.. Dec.
510,49o
483,623
Jan. 1 to Dec. 31... 1,063,815 1,012,681
646,146
650,507
Loulsv. &Na8hTlUe.Dec. 1,654,064 1,454,222
Jan 1 to Dec. 31... 18,011,298 16.043,199 7,113,022 5,786,567
July 1 to Dec. 31... 9,719,157 8,307,-^55 4,054,388 3,214,679
912,418
1,442,673
\
4cA vitek nf January.
fVOU
GENERAL INVESTMENT NEWS.
C0,556
Strike at company's mines.
Allegheny Valley.— At Pittsburg, Pa., Feb. 1, a petition was
presented in the United States Circuit Court asking for the
The road has been in
sale of the Allegheny Valley Railroad.
The petitioners represent a
litigation now for some years.
considerable amount of the income bonds of the road. The
petition was filed, and Friday, March 14, fixed for a hearing.
For the month of January, a summary covering the 83
Called Bonds. The following bonds have been called for
roads thus far received shows as follows:
payment:
Monih of January.
1890.
1889.
Inrreax'.
p. c.
Minneapolis & St. Louis— Six per cent bonds of 1881,
SSToals
23,506,374 20,873,904 2,632,470 12-61
due 1901, 100 bonds of $1,000 each, numbered from 1 to 100
Net Earnings Monthly to Latest Dates.— The tables foUow- inclusive, to be paid at 105 and interest at the office of the
ing show the net earnings reported this week, the returns for Centi-al Trust Co. of New York on Sept. 1, 1890.
«ach road being published here as soon as received, but not
Western Union Telegraph Sterling 6s of 1875, due
kept standing from week to week. The figm-es cover the
March, 1900, to be paid at par and interest at the office of
latest montlis and the totals from January 1, and also tlie
Messrs. Morton, Rose & Co., London, on March 1, 1890, 7 bonds
totals for the fiscal year on those comp nies whose fiscal year
o^ £200 each, viz.:
—
.
'
—
doeB not correspond with the calendar year.
Grom Eamingn.
.
Itoadn.
AUcfthony Valley... Dec.
Jan. 1 to Dee. 31...
Buff. Koch. & Pitts. Dec.
Jan. 1 to Doc. 31...
Oct. 1 to Dec. 31...
-Central of Ga
Dec.
-' J«n. 1 to Dec. 31...
JtJly 1 to Dec. 31...
.
CTlC^Ml'. & St P. ..Dec.
Jan. 1 to Dec. 31...
July 1 to Deo. 31...
Chic. Peoria* St. L.NoT.
Jnly 1 toNov. 30...
Denver & Rio Gr... Dec.
Jan. 1 to Dec. 31...
EHz.Lei.&B.Sandy.Dec.
Jan. 1 to Deo. 31...
,
1880.
1888,
.
Ket Earninos.—
1889.
1888.
60,282
76,167
200,497
183,545
2,369,086 2,098,965
997,307
900,927
148,863
181,623
35,525
61,358
1,948,692 2,008,083
570,217
551,479
407,222
570,121
142,010
207,.5o3
878,402
750,366
"207,948
*258,379
8,058,741 7,392,905 *2,199,594 2,527,595
4,631,081 4,123,206 1,484,494 *l,589,y28
2,301,700 2,274,481 1,011,732 1,113,001
25,900,219 24, K(>7,731 9,180,376 7,490 377
14,701,30014,313,641 5,920,653 5,614!451
32,790
27,233
12,218
8 734
179,446
142,200
73,797
55477
697,717
615,328
284,304
226,377
8,046,608 7,668,634 3,332,410 2,563,072
62,933
89,532
24,.507
22 37.1
815,830 1,008,690
280,389
322,933
Nos. 239. 2t)7. 275, 283, 430. 43''', 590, and 7 bonds of
viz: Nos. 62, 105, 140, 161, 222, 327, 613.
City of
New Orleans—Premium
£100
each,
5 per cents of 1875, 60
bonds, viz.:
Kos. 106, 201, 525, 555, 792, 927,
2025, 2086, 2091, 2437, 2793, 2807,
34X1, 3514, 3844, 3835, 3-04. 3933,
5319, 5072. 5851, 60>5, 6l8i, 6318,
726'-', 7o.50, 7445, 7600, 7779, 7a04,
9521, 9638, 0704, O832, 9960.
—
981, 1033, 1156,
2830, 2'67, 2931,
4380, 4303, 4380,
6 J97, 6003, 7035,
8110. 8290, 3836,
1544,
3261,
4804,
71u0,
9131,
1653,
3327,
5162,
7229,
92J8,
Cameron Coal & Iron. TheN. Y. Times says "The stockCameron Coal & Iron Company met at their
office at No. 36 Nassau Street on Wednesday afternoon to
consider a proposition made to them by I. B. Newcomb & Co.
and E. H. Harriman & Co., who own $1, 000,000 of the com:
holders of the
pany's bonds, which they bought in August last for about a quarsum. It was to the effect that an amicable foreclosure
should be made, $500,000 worth of bonds should be issued.
ter of that
Febbuaet
8,
THE CHRONICLE.
1E80.J
$300,000 of these should be purchased at par by the stockholdand the proceeds given to the two firms, the remainder
going into the company's treasury. Then $1,300,000 preferred
stock should be issued to the firms and $1,200,000 of common
stock to the stockholders. The stockholders determined to
fight against a foreclosure."
ers
Chicago & Eastern Illinois.—The following, from the Boston News Bureau, is said to be from an ofBcial source
:
205
Great Northern— St. Paul Minneapolis & Manitoba.— The
announcement was made February 1 of the consolidation and change of name as outlined in the circular issued to
the stockholders last October and published in the CaBONiC];.B
of October 5, page 435. The mileage of the system is as
official
follows
Klla.
2,T70
Jtoaaa.
St. P.
M.
&M. lines
KnHtcrn of Minn
Montuuu Central
70
2(X3
" In the beginning of 1889 the condition of business was
Wilm.ir A Sloiix Falls
147
thought to be good and showing favorable indications. Presi- Duluili Watertown <ie PaolOc
70
dent Porter laid out in consequence plans for betterments and
Total
3,260
improvements which have since been carried out, paid for,
and charged to "xpense account. As the season developed the The Minneapolis Union, being the lines through the city of
coal trade was not what was anticipattxi. Then came the Minneapolis, and the Northern Steamship Company, are inr
This was most expensive t* eluded
the consolidation. A map of St. 1'. M. & M. system
strike, wliich lasted six months.
the company, not onlv in loss of transportation but in loss of will be foimd in the Investoks' Supplement.
derives from $10,000 to
profit in mining. The company
Indiana & Illinois Soutbero. The sale of this railroad
$20,000 per month from the latter, according to the output. was made on February 8 under order of Court. The propThecompany now finds its business improving, but its resources erty was sold to W. K. AUey for $100,000, and it is probably
expended. In consequence it will in all probability pass its to remain under the old management. The road extends
March dividend. The company has no floating debt and does from Effingham, III., to Switz City, lud.
not propose to create one. It is figured that earnings for 1890
Jaeksouvllle St. Louis
LonisTllIc.— JaebsonTill*
ft
will show 83,000,000 gross. The company can operate for 60
Sonth«astrrn The latter company has been reorganized, and
r,et,
which
would
interest,
leaving
say
$1,200,000
pay
per cent,
the Jacksonville St. Louis & Louisville was chartered January
charges and rentals, 6 per cent on preferred stock and leave 18 to operate that part of the line between Jacksonville
and
common."
for
the
to
$150,000
some $125,000
Centralia, 111., 112 miles. The capital stock of the new ocmCbicago Milwaukee k St Paul.— In regard to the new general pany is $1,500,000.
mortgage bonds of tliis company, the following points are noted:
Kansas City Fort Scott & Memphis.- The directors have
( 1) The general mortgage for 150 millions was created with a
declared a dividend of 4 per cent on the preferred stock from
view to unifv the debt of the company, and $121,819,000 of the earnings of the last six months and 2 per cent on the combonds so authorized can only be used to take the place of older mon, making 8 per cent on the preferred and 3}^ per cent on
issues bearing a higher rate of interest, whereupon the prop- the latter for the year, against 2% per cent for 1888. Thes*
erty upon which such old issues are secured will come under dividends are payable Feb. 15 to stockholders of record Feb.
the lien of the new general mortgage. The older earliest ma- 4. The bookrf will be closed from Feb. 5 to Feb. 14 inclusive.
turing issues generally cover main trunk lines well located in Below is the statement for the last half of the years 1889 and
the mere thickly settled districts and having a well developed 1888.
traffic.
Intrttut.
1 BHQ.
(2) The remainder of the general mortgage bonds are
1888.
$2,586,643
$273,652
$2,312,991
intended to provide means for further extensions and improve- Famlogs
:i04,573
Expenses
1,482,515
1,687,088
„
ments of the property under close restrictions specified in the
mortgage. Six millions of the bonds at 4 per cent have so far
$899,555
$09,076
Net
$830,476
10,176
2,041
8,135
been issued to reimburse the company in part only for actual O her Intome
expenditures in securing an independent entrance into
$<»09,731
$71,120
Total net
$838,611
valuable real estate and Charges
the city of Chicago, with
23,144
516,470
493,326
terminal properties in that city, and in constructiog 178
$393,261
$47,97«
Sarphis
$345,285
miles of branch lines not previously covered by any mortgage,
Dividend 4 per cent prefers d
built to develop and to secure traffic for the main lines.
109,991
109,992
stock
Of the underlying bonds mentioned in the mortgage,
)3.)
$47,9'^
$233,269
$235,293
$840,000 lajid grant income 7's were paid on January Balance
Detlcit Clinton road last 6 moa,
1, 1890, and there will mature on the Ist of January ,1893, $3,32,000
1883
32,000
209,000 seven per cent first mortgage La Crosse Division bonds;
$15,97«.
on July 1st, 1897, $3,198,000 Iowa & Minn. Div. first mort- Balance for common ftor-k...(2-38)$235,293(2-54)$251.269
49,490
197,960
148,470
gage 7s; and in February, 1898, $3,674,000 eight per cent first Dividend common stock
m
—
—
_^___
mortgage Prairie du Chien Division bonds and $1,241,000
7 3-iO per cent second mortgae;e Prairie du Chien Division
bonds. The divisions covered by these issues are among the
oldest and best paying ones, aggregating alxttt 817 miles in
length, and when these bonds are paid off, the security of the
new general mortgage bonds will be much incr^ised. (4.)
There is a provision in $31,466,500 of the older bonds of the
company bearing seven per cent and higher rates of interest
(of which the $9,648,000 bonds mattu-ing 1893 and 1898,
mentioned before, form part) that they may, at the option of
the holders, be converted into the preferred stock of the company.
As the preferred
stock
sells
much above
par, it may reasonably be assumed that many if not all holders of such bonds wUl, at maturity, prefer to avail themselves
of their option to take preferred stock, in which case the lines
theretofore covgjed by their respective mortgages would come
directly under the hen of the new general mortgage.
Chicago & West Michigan.— The directors have declared a
semi-annual dividend of one per cent, payable Feb. 15 to
stockholders of record Feb. 8. The transfer books will be
closed from Feb. 10 to Feb. 14, inclusive. The annual report
will
show
as follows
1B89
$1,417,802
1,016,901
$1,374,«"33
1,018,466
Dec. $42,969
Dec. 28,435
$370,901
3,678
$356,367
Other Income
D^o $14,S34
Total net
$374,.'S79
$363,313
237,847
Dec.$ll,266
234,718
$139,861
123,004
$125,466
123,004
Dec. $14,395
$16,857
$2,462
Deo. $14,395
Expenses
NetcamlnRS
Charges
Balance
Dividends.
BnrplBS
6,946
Inc.
Inc.
3,268
3,129
'
$53,309 D«c.^33,518
—
Linseed Oil Trust. A Chicago report says that holders 6t'
certificates in the Linseed Oil Trust have received notice froin
the directors of their intention to turn the $18,000,000 certificates into $18,000,000 capital stock of a regularly organized
stock company, and holders are requested to give their assffllt
by Feb. 15.
circular with full particulars has been issued.
LonisTlUe ft Nashville. Notice is given that the Louisville
<Sr
Nashville Railroad Company will receive from its stockholders, in full or part payment of their subscriptions to the
$13,000,000 of new stock now offered to them, Louisville
Nashville Railroad Company 6 per cent collateral trust bonds
at the rate of 110 and accrued interest.
The complete statement for. the six months ending December 31, 1889, differs but very little from the preliminary statement, and shows that the surplus above charges and 3 per cent
dividend was $816,195.
A
—
&
—
LonisTille New Orleans ft Texas.- For the year «ided'
Dec. 31 the earnings, expenses and charges were as follows :
lf88.
operated
Gross earnings
Operating expenses..
JJllcs
:
1888
Gross earnings
$96,823
Sorplus
i
I
Ncteamlngs
Interest on 1st mortgage bonds.
1889.
Jncreate.
514
589
75
$2,426,317
1,781,89^
*8.0-.;7,472
$601,16(^
208,566-
$644,4?5
445,600
$1,037,014
505,600
1,990,458
$392..'S89
60,00O<
$332,580
Milwaukee ft Northern.—The gross and net earnings and
charges for the six months ended Dec. 31, 1889, were as follows:
Surplus
Gross earnings
Opotatlngexpensea
$198,8'^5
$531,414
$689,751
427,670
$262,081
Net earnings
„
New Orleans & Texas Pacillc-This company
Deduct—
week a dividend of 4 per cent from the earnings Rentals
»l2,»r»
140,140
of 1889, payable Feb. 18.
The Cincinnati Commercial Oazette Intereeton bonds
"
remarks:
The splendid earnings of the year had led to
$157,710
general expectation of a dividend, but the amount was an
9104,S6&
agreeable surprise, and the news was heard with pleasure Bnrplus for six months
$297,084
throughout the city, and even by those who had no direct in- ToUl surplus for year if 89
terest.
The dividend is for no specific lime, but is based cm
Minneapolis ft St. Louis.— No de^nite information hasthe net earnings of the road since the declaration of the last been obtainable about the affairs of this company or the prosdividend of 3 per cent. President Schiff's well-known con- pect of speedy reorganization. Testimony is being taken at
servatism gives additional force to the division of net reserve the West in the foreclosure suit, and it is expected that the
among the shareholders, as every one feels assured that he parties will soon be in New York. Dow, Jones & Co., say
would not have recommended its declaration unless it was to-day " the Bank of North America is paving for tl>e Minn.
clearly and squarely earned."
&St. Louis KR. Co., under order erf the Court, the foUowing
Cincinnati
declared last
THE CHRONICLE.
206
'
[Vol. L,
coupons: No. 15 Pacific extension, due Oct., 1888; Nos. 38 and laws of the States in which the conapanies whose stocks are
S4 Minneapolis & Duluth, due Nov., 1888, and May, 1889; Nos. held in the association are operating, ia the firm belief that
32 and 23 Merriam Junction & Albert Lea, due June and Dec, the doctrine of intelligent co-operation through a trust organ1888; Nos. 23. 23. 24 and 25 Minneaixilis & Merriam Junction, ization will finally meet the favor and protection of the Govdue July, 1888, January and July, 1889, and January, 1890." ernment of each of the States and of the United States.
If any notice of this payment ha^ been publis'ied at all, it About it there is no mystery, and will be no greater secrecy,
must nave been done very obscurely, as it has not generally than is found in all of the partnership or corporate organizabeen known in New York that such payments were to be made. tions of the country. To this end, and that the shareholders
Notice is now published that $100,000 of 6 per cent real estate may thoroughly understand the whole principles of the orbonds, due in 1901, will be paid oflf on Sept. 1, 1890. The ganization, the trustees have very properly caused the deed of
delay in effecting any reorganization is accounted for by say- agreement, which binds all sharebolders, to be printed for dising that it has been impossible so far to get alJ the different tribution among them, and have directed that this report,
interests to unite on any plan. The earnings issued monthly whicn practically exhibits ;he course of action of the trustees
since the organization to this time, shall be spread before
are given in the Cheosicle rabies.
Missonri Kansas & Texa8..-The Olcott Committee announces you.
" The amount of actual cash assets held by the different
that the time for depositing securities of this company under
iheir plan with the Central Trust Company has been extended companies over and above aU their liabilities, after paying for
to March 1 without penalty, and after'that date genera mort- all of the plant, is $5,594,189. The trustees deem it of paramount importance to make each one of the interests in assorige and income bonds will be required to pay a penalty of ciation with us strong and able to carry themselves
without
per cent and stock 1 jter cent. Already the holders of over
$18,000,000, or 65 j^er cent, of the general mortgage bonds have the necessity of borrowing. It is confidently expected that
deposited them, and the holders of 185,000 shares of stock before the expiration of this year this will have b^n done,
liave deposited their shares and paid the first instalment of and that thereafter dividends can be commenced and con
the assessment of 10 per cent. The deposits of the general tinuously paid to the shareholders, and it is hoped, if no unmortgage bonds are in excess of the amount called for by the toward circumstances arise and the trustees are aided by the
plan, and as the trustees of both that mortgage and the con- shareholders as hereinafter stated, that this may be comsolidated 7 per cent bonds are in accord with the plan, the menced within the succeeding six months.
" This brings us to the consideration of the present capitalforeclosure of both mortgages wUl be pushed as rapidly as posThe aggregate valuation of the properbible, with a view of completing the reorganization at the ization of the Trust.
ties brought into this Trust amounts to $22,861 ,900, included
Sliest day practicable.
It is imderstood that Mr. Oyens, who is here in the inter- in which is a reasonable valuation for brands, good will and
est of the Amsterdam and London holders, has practically earning capacity. On these valuations certificates have been
given in his assent to the Central Trust plan. He found, on issued on the basis of four for one, which makes the present
conference with the committe here, that everything would be capitalization of the Trust $89,447,600, for which certificates
"done to protect the bondholders' interests, and that the reor- are outstanding;. In my judgment it was improvident to exganized company would operate its own road as an independ- fand the capitalization of the companies to so great an extent,
t is very readily perceived by the course of advancing profits
ent line, although in harmony rather than in hostility to the
.
—
Gould
lines.
—
.
Nation.il Lead Trust. The first annual meeting of the
•National Lead Trust sin"e the organization was perfected was
4ield on Wednesday, at No. 1 Broadway. Tlie reduction of capital proposed by the President was approved by a vote.
The
election of trustees resulted in the choice of W. P. Thompson,
A. P. Goshom and S. R. Bradley, to serve for three years, and
F. W. Rockwell, W. H. Thompson and R. R. Colgate for the
term ending February, 1891. The other three trustees are S.
Y. Beymer, D. B. Shipman and A. P. Thompson. In response
to an inquiry. President Thompson said that the manufacturers not represented in the Trust produce about 8 or 4 per cent
of the total output.
The report made by President W. P. Thompson said that
the companies associated in the Trust had materially impaired
their capital priof to October 1, 1887, by reason of the fierce
competition in which they were engaged. Their first union,
which was simply for self-defense, was so imperfect
that the end sought for was not attained hence the impairment of capital continued during 1888, until the aggregate losses of the concerns controlled by the Trust from
the date of its formation to December 31. 1888, were $263,600.
The purpose of the original trustees was to place the business
on a basis of intelligent co-operation by associating all the
large corroders of white lead in the Trust, and this work was
seriously undertaken in May of last jear, when the present
management took hold of the enterprise.
The trustees now hold a majority of the stock of thirty-one
different co upanies, included in which are three large smelters, one of the best refineries.for the production and refining
of pig lead in the country, and three linseed oil mills which
produce more oil than is required for the business of the Trust,
and are consequently a distinct source of profit. The plant also
includes machinery for the manufacture of pipe and sheet
lead.
During 1889 the organizations in the Trust manufactured and sold 77,010 tons of lead. Their capacity is 97,000
tons, which it is believed can soon be fullv employed. During
the first half of 1889 the twenty companies then controlled by
the Trust, notwithstanding their imperfect association, made
a profit of $309,849. During the last six months, with an
enlarged membership, the net profit was $793,173, making the
total net profits for tne year $1,103,023.
Three important factories, those of Armstrong
McKelvy, of Pittsburg, and the
Maryland and Davis Chambers companies were not received
into the association until the end of the year. It was found
last June that the smelting companies were large borrowers of
money at high rates of interest in order to purchase the quantities of bullion and silver and lead ores necessary for their
business. To avoid this their capital was increased by $900,000 in cash, which effected a very great saving in the item of
4 -terest charges.
The trustees have also paid $337,400 in cash in the acquirement of certain of the properties. It is noted that all of the
companies, and especially those that came into the organization after July 1, were seriously handicapped by large time
contracts made prior to that date. With those contracts out
of the way it is expected all of them will make profits, not by
advancing prices, but by avoiding losses incidental to sliaip
competition and by practicing economies that are possible by
their virtual consolidation.
Actual consolidations wiU be
made wherever the laws will permit them.
'•
In this regard it is proper to say that the trustees believe
they are engaged in a perfectly legal and proper entLrprise,
and it is their purpose in aU cases to invoke the aid of the
;
&
,
.
•
,
resulting from intelligent co-operation that on the basis of $30,000,000 the properties aggregated in the Trust would be on a
very reasonable basis. The present very large capitalization
overshadows the real values, and is certainly misleading. It
is believed by the Trustees that if the outstanding certificates
were surrendered on the basis of securing one consolidated
certificate for three shares, thus practically reducing the capitalization to one-third what it is at presenr, the shares would
rapidly appreciate to par. The trustees have therefore perfected a plan for voluntary relinquishment of the certificates
at present held, to be merged into a consolidated certificate
representing one of the new certificates for three of the
old."
New York
Central
& Hudson Kiver.—The
ment
December
for the quarter ending
follows:
earnlnKS
Operating expenses
Peroentot expenses to earnings
Net earnings
First charges
Gross'
Profit
1888.
$9,170,889
f9,5:il,-252
5,971, t)40
6,219.348
1889.
(H.5-11)
(65 25)
$;j,3ll,90i
$S,19h.24«
1.963,260
1,965.420
$1,23S,9?9
.
Dividend, 1 per cent
Surplus
corrected stateand 1889, is as
31, 1888
,
f 1,346,484
891,2(*3
894,283
$341,708
$452,201
New York & New England. —The New York
Times men-
lions as a definite point that this company has made a
lease for ninety-nine years of the plot of ground between
155th and 157th streets, from Harlem River to the bluff.
This
is
the property occupied by the
New York
League Base-
ball Club, which was served with notice that it must vacate,
but finally the matter was compromised on a contract which
will turn the property over to "the railroad comjiany next OctoThe lease contains provisions granting renewsds on a
ber.
basis of an appraisal of value.
&
IVPstern.—The bankers offering the $5,000,000
Norfolk
of new 5 per cent 100 year bonds report tliat bids amounted to
$13,000,000.
On another page will be found a fuU abstract of the new
mortgage, the original of which is a voluminous document,
and the abstract will be found much more useful for the
average reader.
Oranice Keysvllle.— This road is projected from GordonsVa. on the Chesapeake & Ohio RR. south to Keysville
on the Richmond & Danville RR., a distance of 95 miles. It
is said that the whole line is expected to be completed within
Six per cent 30-year bonds have been
t!he current year.
authorized at the rate of $17,000 a mile, covering road and
equipment.
Philadelphia & Reading. There have been remarkable reports of syndicates buying up the stock of this company, but
the most probable account seems to be that the parties owning
oefore a very large amount may have been joined by others,
and owning together some 400,000 or 500,000 shares, they have
squeezed the large " short" interest.
The executor of the estate of I. V. Williamson has withIrawD from the proceedings begun last year by the Reading
bird preference bondholders to. recover 7J^ per cent interest.
The estate owns about $400,000 of the third preference bonds,
).nd the executor took the coupons to the Reading office and
collected the 2},£ per cent voted by the Directors.
It is said
hat this action will end the proceedings on the part of the
third preference bondboldeis.
ville,
,
,
—
February
THE CHRONlCIi^
It 80.)
8,
207
cludes Messrs. Byrne, Weidenfeld and C. P. HuntingRailroadH In Massachusett".— The foUowing reports for the ton, New Yorl;. Joseph Robinson, the old receiver, lias beea
with
the
Massachusetts
filed
been
31
have
Dec.
quarter ending
appointed General Superintendent. An authorized mortgage
Railroad Commissioners:
of five millions has been placed on the property."
OU
Colony.
I8S9.
FUehburg.
1899.
1888.
$1,018,823
$1,510,160
Gross carnlDK"
1,112,485
Oiieratliig expenses l,ll»,233
$1,861,905
1,299,675
$1,942,191
1,388,791
9,861
$506,337
10,460
$564,230
35,381
$553,700
91,582
Total income....
taxes
$401,088
301,882
$516,797
315,371
$•99,611
403,088
and whoever finds anything of interest or useful^
$045,2R2 ness in the Chronicle will find this annual summary of im411,417 portant statistics and leading articles a most convenient work
Balanccsurplus
$99,206
$i01,426
$196,523
$233,862
.
$S91,227
Netearnlnga....
OtUerlncome
Int.. rentals >&
1888.
—
1 he Financial Rerlew. This annual book, published in the
Chronicle office, is a volume of 275 pages, including the lN»
VESTOR8' Supplement bound up with it. The Review is a
book of great practical value to
cial affairs
Tlie price of the Review
for ready reference.
regular subscribers of the Chronicle, $1 50.
Railroads In New York State.—The following reports for
the quarter ended Dec. 31 have been filed with the New York
State Railroad Commissioners:
—
Gross eamlnjt.s
Operating expenses
Buff. Roeh.
<t Piltt.
Tr,
1889.
$192,897
355,213
$204,521
3,033
Net earnings...
Income
Otlier
$207.^54
184,787
Total Income...
Int.,rent .taxes, &o.
1889.
$137,684
4,326
$142,010
166,052
$169,285
142,709
$171, ISO
147,913
$23,267
Stocli
Do
$23,267
79.028
.
Sundry accounts
Otner assets
Texas. The committee of which Mr.
St. Lonis Arkansas
F. P. Olcott is chairman announce that the following secu-
Sai-plus
fund
3,441.130
23.U64,83S
Deposits In trust
17,652.496
433,043
863.465
4,430,281
3,483
264,039
collaterals.
personal securities
Ciiah
—
&
or to
Itiabititla.
Real estate
8nr.$22,767 def. $24,042 def. $49,635 def. $55,761
Balance
$3,
Capital stcck paid in.. $1,000,000
$2''4,300
1,633.300
Investments
Loaned on
$26,576
76,211
is
'
Rimuree*.
Bonds and mortgages.
$26,576
finan-
Trust Companies In New York and Brooklyn.—The following statements are from the reports filed witli the Banking
Department at Albany; the reports of the other companies
were given in the Chronicle of January 35.
"'
FARMEBB' LOAN A TBD8T.
—
— — Slaten
M. Rap.
1888.
1888.
$567,088
362,567
all jx3r<ions interested in
;
Giber
108,487
liabilities
Total
$28,5U.40S
Total resources .. $28,514,406
$620,186
Total amt. of Interest and profits received last sI.k montbs..
233.976
Amount of interest credited depositors same period
82,198
Ev|)en9e8of tlic liisiliution same period
150,000
Dividends declared on capital stock same period
20,970,895
Amount "fdeiKisits on whicb interest is allowed
Kate of interest on same from 1 to 5 per cent.
MEKCANTILB THUBT.
ZUtbllUia.
Rooiirees.
$2,000,000
$81,332 Stock paid In
Bonds and mortgages..
.)67
Surpins
fund
1,000,000
2,573,
Stock investment.?. ..
233,035
Loaned on collaterals. 14,411,081 Undivided protlts
Deposite
trust
in
827.957
Do personaisecuritles 1,061,633
724,536 General deposits
17,273,251
Rial estate
rities have been deposited with the Central Trust Company,
viz.
$8,387,000 firsts, ?7,016,OO0 seconds and $5,520,000 stock.
Another plan of reorganization, diflfering from that pub:
The Chronicle of January 25, on page 141, has
Messrs. Wm.
been issue<l by the following committee, viz
Mertens of L. von Hoffmann & Co. G. J. Wetzlar of J. D.
Probst & Co., M. Gernsheim of M. Gernsheim & Co., and F.
G. Renner of Woerishoffer & Co.
The committee says " The essential difference between this
plai and that of the Central Trust Company committee lies in
lished in
:
,
:
1.7(11,533
the fact that we propose giving an available asset (viz., First C»8b
779,510
Other a.-sets
mortgage bond) for the assessments, without increasing the
bonds and stock, and at the same time lessening the amount
Total resources. ...$21, 3: 3,245
Total liabilities ...$21,333,245
$129,204
Total amt. of interest and pioflts received last six months..
175.046
Amount of iutcrest credited depositors, sameptrlod
57,422
Expenses of the inslituiion, same [>eriod
fcO.OOO
Dividends declared on capital stock, same period
16,268,214
Amount of deposits on which intertstis allowed
Rate of interest on same, 1 to 4'3 per cent.
to be raised for cash requirements." [There are also other important differences.]
The new securities will be
$20,000,000 413 per cent 1 st mortgage gold bonds due 1990.
$16,409,000 4 per cent 2d mortgage (non oumiUaiive) income bonds
due 1990
NEW YORK BECCRnV AND TRUST COMPANT.
$4,102,250 preferred stock.
$16,081,000 common stuck.
The division of securities to be as follows :
Eaob $1,000 old Ist mortgage bond will receive
New 4's per cent 1st mortgage gold bond, witb November, 1890,
coupon attacbo't
,....
^
per cent 2d mortgage Income bond, to compensate for
duced interest
Maj, 1889, coupons will be paid iu ciksh.
New 4
Eacb $1,000
Stock investmfnts
$1,050
re-
holdings to Ists
stock will receive new
—
St.
.
Lonis Fort Scott & Wichita.— At Topeka, on February
P. Diilon, Master in Chancery, sold the St. Louis
Hiram
Due
trustees
Sundry
65,!»74
7.38,895
lci,270
Excofsof iiatJililies....
Sundry assets
$1,500,000
1,024,000
58,413
8,466
Debentures
19,259
1,559,517
Realestate
Ca8h on deposit
St. Louis & Chicago.
At Springfield, III., under decree of
the United States Court, the ten miles of railway extending
from Litchfield to Mt. Olive, part of the St. Louis & Chicago
Railway, recently purchased by Frank C. Hollins and others,
was sold Feb. 5 by the Master in Chancery. It was bid in by
a representative of the purchasing trustees for the bondholders. The balance due on the sale of the main portion of
the road, amounting to $438,000, over which there was some
contention, was also paid Feb. 5, and the deed was turned
over to the North & South RR. Co., which will hereafter operate the road.
$3,907,611
YORK.
Capital stock
$188.4''0
Bondsand mortgages..
Accretion on same
and
NEW
LiabiliiUs.
Resources.
750
the assessments will be " 5 per cent on the second mortgage
bonds and 10 per cent on the common stock. New 4:% per
cent 1st mortgage bonds at par will be given for these assessments.
"This amount covers the payment of the car trust, (fee, and
leaves about $1,000,000 for permanent improvements. Tlie
assessment levied will produce in round numbers $3,450,000,
and leave a balance of $400,000 first mortgage bonds in the
treasury, which will be available should the entire amount
estimated for cash requirements be needed."
Holders of bonds and stock are requested to deposit them
with the Farmers' Loan & Trust Co.
3,
$1,000,000
500,000
19,674
624,634
1,757,638
5,663
Total liabilities
I
EQUITABLE TRUST COMPANI OF
common stock, share
$2,750,000 cash,
$3,907,611
Total resources
250
The company requires about
Stock
;
250
old 2d
common
.$1,282,961
Loaned on collaterals. .. 2,223,370 Surplus fund
215,36 Undivided proUts
do personaisecuritles
162,78(1 Deposits in trust
Cash on deposit
23,1^4 General deposits
Sundry assets
Sundry lialiilitles.
.
mortgage bond will receive
New 4 percent 2dmf)rtKaae Income bond
Preferred stock, as compensation for surrendering 25 per cent of
The old
for share.
LiabilUiet.
Resources.
ilabillties
Total liabilities.... $2,590,879
Total resources.... $2,590,879
WASHINGTON TRUST CO.MPANY OP NEW YORK.
LiabilUUs.
Resources.
$500,000
$8,000 Capital stock
250,000
752,870 Surplusfund
Stock investmeuis
20,906
Loaned on collaterals.. 1,6.57.500 Undivided protits......
30,000 General deposits
2,065,382
Loaned on personal sec
374,212
CaaU on deposit
14,071
Sundry assets
Bondsand mortgages..
.
Total resources
Total liabilities
(FOR 1 13-30
1^3,836,653
STATE TRUST CO.MPANY OF
NEW YORK
$2,836,288
MONTHS ENDED
DEC. 31, 1889.)
Liabilities.
Resources.
Stock Investments
Loaned on
Cash
Other assets
collaterals..
Stock paid In
Surplus lund
$1,504,126
671,895
415,386
1,306
Undivided profits
General deposits
$2,.=i92,904
Total
Total
Total amt. interest and pronts received last 11^30 months
same
peri(>a
depositors
credited
Amount interest
Expenses of the institution same period
interest
is
allowed
which
Amount of depislts on
$1,000 000
500,000
5,166
1,087,633
$2,592,804
$9,287
089
3.13X
1.087,038
Sate of interest on same fromS'a to 4 per cent.
ATL.VNTIC TRUST COMPANY OF NEW YORK.
Liabtlities.
Resources.
Bonds and mortgages..
Stock Investments
$329,582
422,000
6,642,280
464,261
45,411
Stock paid in
Surplusfund
Undivided profits
$500,000
500,000
Fort Scott & Wicliita Railroad at public sale to tlje Union Loaned on ouilaterals...
330,978
22,921
Deposits in trust
Trust Company of New York for $6,466,743. B. P. Waggener, Oagli
deposits
General
6,529,137
Other
assets
of Atchison, attorney for the Missouri Pacific, bid $5,000,000
20,500
Other liabilities
for the road in behalf of the GJoulds. The press dispatch says
" It is believed that Waggoner's bid was intended as a blind,
Total
.$7,903,535
.....$7,903,535
Total
and that the road will continue to be operated by the Missouri
NEW YORK INSURANCE Si TBC8T.
Pacific.
Judge Foster has directed that no further steps be
IiiabUiliet.
Resources.
taken until tlie suit now pending in New York is decided."
$1,000,000
Bonds and mortgages. $2,061,419 Stock paid in .,
2,070,403
Surplusfund..
10,863,782
tuvestmentf
Scioto Valley. A press dispatch from Columbus, Ohio, Feb. Stock
185,387
on collaterals. 4,027,510 Undivided profits.
Loaned
3, said: "The sale of the Scioto Valley Railroad was confirmed
16,221,046
in
trust
Deposits
149
,463,
pen-oual
scc'tles.
1
Do.
1,456,038
at Portsmouth vesterdav, and the new company was incorpo- Realestate
480,0(10 Other liabilities
l,82.--,s28
rated with a capital of $5,000,000. A Board of Directors, with Caab
390,8 -6
a majority membership froai Ohio, was elected, and John Otbor assets
Byrne of New York was chosen President. The directory inTotal
$20,932,975
$20,932,975
Total
!
:
,
—
.
|
THE CHRONICLE.
208
»<)tal amount of Interest and profits received last six montlis $f33,6«4
.Amount of interest credited doiwaltors same period
^n'a\i
Bxpeusea of the Institution siitne period
iJInXsn
Dividends declared on capital stock, same period
i,V'VVc
18,^^1, i40
of deposits on wlilcU interest is allowed
Kate ol interest on same from 1 to 5 per cent.
Amimnt
TITUI GDABANTBE
'
TRUST.
ft
inTestments
lA>anedoncoUateral«...
Caeli
Rant accumulated
assets.
IS**-*?*
131,5,0
$1,292,324
Total
$1,292,324
Total amount of Interest and profits received last six month8.$181,966
135,801
period
JEipensesof the institution same
2c,Q00
JdVideiiUedetiaicd on capital stock same period
Total
BOLLAKD TBUST.
Liabilities.
Iletoureea.
Stock paidin
1,135,417 Surplus fund....
?ltock investments
1,7S1,630 Undivided profits
yoaned on collaterals.
Do personal securities. 224,841 Deposits in trust
252,612 General deposits
Gash
7,t80 Other llabiUties
Otherassets.
$500,000
500,000
81,350
32,165
$2,500
Bonds and mortgagee. ..
.
1,253.090
1,007,550
Total
$3,374,156
Total
$3,374,156
Total amount of interest and profits received last six months.. $74,027
24,184
Amount of interest credited depositors same period
23,053
ExpCEses of the institution same period
12,500
Dividends declared ou capital stock same period
1,628,585
Amount of deposits on which iaterestls allowed
Bate of ititerest ou same from 1 to 3>a per cent.
AMEBIOAN LOAK
il
TBCST.
Stork paid In
Oash
Other assets
Other liabilities
..
Undivided
$1,000,000
150,787
t8,666
3,628,121
9,608
profits
Deposits in trust
General deposits
1,087,007
94,U22
Total
Total
$4, 857, 183
Total amount of interest and profits received
[
Amount of Interest credited depositors
Bxpeufes
of instltutloD.
Amount of d> posits on -which interest is allowed
Bate of inieiest on same, 2 to 4 per cent.
.,
$4,857,183
$115,875
44,463
25,904
....
3,411,270
FKANKUS TaUST COMPANY OF BROOKLYN'
Sesourcei,
and mortgages...
Iiiabilitiea.
$554,500 Stock
Stock investments
Loaned on
Do
collaterals.
..
peri-orjalsecmities
1,1.59,850
Surplus fund
2,699,949
199,091
Undivided profits
Cash on deposit
Sundryassets
11'7,970
43,892
$4,775,255
Total resources
Deposits iu trust
General deposits
Sundry
liabilities
Total
liabilities
BKOOKLVN TKUST COMPANY.
Beioureei.
$695,000 Capital stock
2,388,255 Undivided profits
vStock investments
.I^paned on collateral?.
!Beale*tate
Cash on deposit
9,946,933
100.000
191.753
70,715
69,798
Cashouhaud
Sundryassets.
Total resources... $13,162,154
$1,000,000
1,143.009
Deposits in trust
1,572,S72
a,65?,313
88,256
General deposits
Sundry
llabUlties
Total
liabilities...
$13,462,4oO
PEOPLE'S TRUST OOMPANY OP BROOKLYN.
Utsourcia.
.
Bonds and mortgages..
$85,600
Stock Invostments
163,000
Iioanedon coliateraK .. 1,519,847
Do personal securities
86,561
Oash on deposit
302,321
Cash on Land
22 275
Other assets
16,606
Total
$2,196,211)
LlabilUitn.
Capital stock
Surplus fund
$500,000
250,000
Undivided profits
General deposits
Other liabilities
10,268
1,383,273
52,669
Total
$2,1B6,2U
J>roUt8 0f lastsix months
Interest paid depositors
$5,519
1
BxptnseR
Deposits made n.v order of court
Total amount of li 8 deposits
ot
'„
bouds and morigages purchased
NASSAU TRUST COMPANY OF BROOKLYN.
Beiources.
BinidB and mortgages..
Total
071
5|o81
3l!l49
1,214,508
3y,600
Liabililiet.
$414,700
gtbok investments
505,423
Coaned on collaterals... 2,073,079
Cash on deposit
290,397
Cashonhand
4,122
Otherassets
19,916
$3,397,651
Capital stock
Undivided profits
Deposits In trust
General deposits
Other liabilities
Total
$5O0,0CO
69.111
9,530
2,677,281
141,727
$3,397,651
Profits of last six months
Interest paid depositors
Expenses
Total amount of 393 dejopits
Bonds and mortgages purchased
873 092
33'272
."."
'..'.'.'.'.'.
t
.
'
For balance
Total
of lavestinent Items see
&
PREAMBLE.
Whereas, The Norfolk & Western Railroad Company now
owns certain completed lines of railroad, aggregating 577-74
miles, the same being encumbered by mortgages, as hereinafter specified
And
;
*»»»»•
Whereas, The
or has a leasehold
•
The Norfolk & Western Railroad Company
has authorized the execution of a deed of trust or mortgage
on said property which shall be and is hereby declared to be a
continuing lien to secure the full payment of all bonds which
may from time be issued under tne security of the same; but
the total bonds so created and outstanding shall not at any
one time exceed $30,000,000, and such additional amounts as
may be required to retire certain prior bonds now or hereafter
MBued as hereinafter more fully provided. The bonds to be
secured by this mortgage shall be paj^able in gold coin of the
United States, be numbered consecutively from one upwards,
be issued at such times, in such series, to mature at such date
or dates, and to bear such rale of interest not exceeding 5 per
Now,
therefore.
centum per annum, as the said Company may by its Board of
Dirsctors determine, and the said deed of trust shall be for
the benefit and security of the holders of the said bonds,
tered, to the registered holder hereof, in the principal sum of one
thousand dollars, which indebtedness it promises to pay in United
States gold coin of the present standard of weight and fineness, on the
first day of January 1990, at the oflice or agency of the said Norfolk A
Western ER. Company in the city of Philadelphia or New York, and
also to pay meanwhile, in like gold coin, at the office or agency of the
Railroad Company iu Philadelpeia or New York, inlercst on said principal sum half-yearly on the first davs of January and July in each
year, at the rate of live per cntum per annum, on the presentation
and surrender of the couiions aonexed and to be annexed, and as they
severally become due.
" This bond is one of a series ot bonds of like tenor and amountj
numbered consecutively from one upwards, not to exceed in the aggregate ten million dollars, the payment of all of which, together with
such additional bonds as may hereafter be issued in pursuance of the
terms of the deed of trust or mortgage next herein referred to, is
secured by a deed of trust or mortgage bearing even date herewith,
made by
the Norfolk
& Western RE. Company and the West Virginia &
Ironton BR. Company to the Mercantile Trust Company of New York,
to which reference is hereby made for a description of the roads, property and franchises mortgaged, and the nature and extent of the
security and the rights of the holders of said bond.1 under the satne,
and for the provisions thereof, and erms and conditions upon which
the said bonds arc issued and secured.
" The principal and interest of this bond are rayable without deduction lor any United States or State tax whatsoever which the said
railroad company is or may be required by law to retain therefrom,
the said railroad company hereby agreeing to pav the same.
" This bond shall pass by delivery or by transfer on the books of the
said Norfolk <fe Western RR. Company, but after a registration of
ownership certified hereon by the Seoretarv or Transfer Agent of the
said Railroad Company, no transfer except ou its books shall be valid,
unless the lastprecedingtransfer shall have beentobearer and transferability by delivery has been thereby restored but this bond shall continue susceptible of successive registrations to bearer at the option of
the holder, and registry shaU not restrain the negotiability of the coupons by delivery merely.
"This bond shall not -become valid until the certificate endorsed
hereon shall have been signed by or on behalf of the trustee under said
mortgage or deed of trust.
"IH Witness Whereof. The Norfolk
Western RR. Company ha.i
caused its corporate seal to be affixed, and this bond to be signed by its
President and Secretary, the
day of
in the year 1889.
1
;
&
"
Norfolk & Western EB. Company,
"By
" President.
„ ^^
"
Attest
.
$5OO,fO0
190 026
98,379
2,789,406
86,127
" Secretary."
With coupons thereto attached for interest thereon, to become payable semi-annually up to and including July 1st,
1939, in general form and substance as follows, except as to
the date of payment:
..
$3,663,939
page 191.
Company now owns
estate in certain other lines of railroad in covirse of construction or about to be constructed.
'
LiabiUUes,
Bonds an'^ mortgages.. $192,300 Stock paldln
Stock investments
1,082,3
Surplus fund
Ijoaned on collaterals
2,o3*<,256 Deposits in trust
Do personal seouiltles
26,000 General deposits
Beal estate
77,000 Other Uabilitles.
Cash.
223,271
Other assets
26,731
3,663,939
of the first part
[hereinafter in this abstract usually styled the Company], and
the Mercantile Trust Company of New York of the second
part [hereinafter in this abstract usually styled the Trustee],
and the West Virginia
Ironton Railroad Company of the
third part.
2 683341
9,500
LONO ISI^MB LOAM AND lUDBT.
Total.
& Western Railroad Company
9527
..
Retourctt,
PARTIES.
The Norfolk
without preference, priority or distinction as to lien or otherwise of any over another, so that each and all of them shall
be all equally secured thereby, with like effect as though they
had all been executed simultaneously. The bonds of the first
series to the amount of ten million dollars to be forthwith
made shall be in general form and substance as follows
" United States of Americ.\.
$1,000,000
250,000 " No.
Sto'es of Tirginia and Went Virginia.
$1000.
12'<,460
" NOEFOLK & WESTERN RE. COMPANY
20,253
"
100 Year Mortgage Gold Bond.
3,332,263
46,277 " Norfolk Terminal and Ohio and North Carolina Extensions First
Mortgage and M^in Line Consolidated Mortgage.
$1,775,255
" The Norfolk & Western ER. Company acknowledges itself indebted
to The Mercantile Trust Company, of New York, or bearer, or, if regis-
LiaMlitieg.
Bonds and mortgage?.
Ainouut
NORFOLK &. WES TER N RAILROAD CO.
HUNDRED YEAR MORTGAGE, DATED OCT. 89, 188».
—
LtabilUiet.
$50,000
375,833
Block iove-tmeuts
Uoenedon coUatersls.. 2,827,670
3'
peisonal
securities
3,449
Do
3ond3
attd Pfljcttmjettts.
$1,000,000
$411,580 Stoolt raid in
279,400 Surplus fund
42.419 Other Ual)Uitie8
37,914
470,017
50,988
Stoclc
Bonds and mortgages
%6vaxts
LiabilUta.
Re»ourea.
Bonds and mortgages...
Other
LVoL. L.
$25.
" riie Norfolk
" «^°"P™''
& Western ER. Company will pay to
the bearer, on the
first day of
at its office or agency in Philadelphia or New
York, twenty-five dollars iu gold coin, being six months' interest on its
100 year mortgage bond No,
" Treasurer."
k
F£BRUiET
THE CHRONICO;
8, 1890.]
And with a warrant thereto attached for the coupons for interest thereon to become payable semi-annually after July 1st,
1939, to and including July 1st, 1989, in Rcneral form and substance as follows:
" (Coupon Wnrrant.)
" Upon presentation and surrender of lliis waiTnnt, on or after July
l8t, W.i9, the Norfolk & Western RR. Conipanj will deliver to the
Ijcarer hereof sheets of one hundred eoupoiis forintrrest to beeonio
payable senil-anniially thereafter to and including July let, 11)89. on
100-YearMortga<ge Gold Bond No.
m
'f
And with
Trtaturer."
a certificate thereon of the Trustee, in general form
and substance as
follows:
" (Tristae'B Oertlflcate.)
"This bond Is one of those issued under and secured by the mortgatje
or deed of trust dated
188i», and uiaile by the Norfolk A
Western Rl(. Company and West Virginia & Iionton KR. Coniiinny to
The Mercantile Trust Company, of New York, Trusloe, wltliin men,
COMfANY,
THE MkRCANTILE
TRIIST
" THU8TEB,
tioned.
"
"
PresUtenl."
PROPERTY CONVEYED BY NORFOLK & WESTERN RR. CO.
Its Main Line, extending from Norfolk, Virginia, to the
State line at Bristol-Qoodson, about 408 miles, an J the City
Point Branch, from Petersburg to City Point [lO miles], and
the Saltville Branch [9'5 miles].
Its New River Division, extending from Radford, Virginia,
to Elkhorn, West Virginia, with branches to coal mines comprising the Flat Top Extension thereof, in all about 102-84
miles; also, the Cripple Creek Extension, extending from
near Pulaski to near Speedwell Furnace, in Wytlie Co., with
the litde Reed Lsland Bmnch, the AlUsonia Branch, the
Hermatite Branch and the Periwinkle Extension the aggregate mileage completed of said New liiver Division with its
extensions and branches being about 143'5 miles.
Its Norfolk Terminal Division, coii&i9.\mp, of a line of railroad extending from a connection with the main line of the
Company in the City of Norfolk, Virginia, to the coal pier at
Lambert's Point, in the County of Norfolk, about 5-3 miles,
together with the coal pier, land, warehouses and grain elevator formerly the property of the Norfolk Terminal Company, and together with two tracts of land, with all the water
rights of every description appurtenant thereto, one lying
north of the railroad and of the coal pier, containing alx)ut
117'1 acres; the other lying south of the railroad and of the coal
pier, containing about 298-3 acres, both being more particularly
described in the deed of trast of the Norfolk Terminal Company, dated November 30, 1888 and also all other lands acquired under the consolidation with the Norfolk Teriroinal Co.
la C inch Valley Division, in course of construction from
near Graham, on its new River Division, to a connection with
the Louisville & Nashville RR., in Wise Co.
Us Ohio Extension, being the indenture of contract and
lease, and all the leasehold and other right, title, interest and
estate of the Norfolk
Western RR. Co. in and to the line,
prop< rty and franchises of the West Virginia
Ironton RR.
Co., which company is authorized to construct, and operate a
road extending from a point in McDowell County, West Virf'nia, at or near the present end of the track of the Elkhorn
xtension of the Norfolk
Western RR. through West Virginia and Kentucky, to the Ohio River, and thence crossing
the Ohio River to a point at or near Ironton, in Lawrence
County, Ohio, a distance of about 195 miles together with all
other right wliatsoever of the party of the first part
acquired and to be acquired under said indenture or otherwise
against the party of the third part and also all the capital
stock of the West Virginia
Ironton RR. Co. (excepting a
sufficient number of shares to qualify persons to serve as directors) deposited with the Trustee, to remain as part of the
security hereof.
Its North Carolina Extension, about to be constructed from
a point on the Cripple Creek Extension, near Ivanhoe, in
Wythe Co., Virginia, tlirough Wytlie, Carroll and Grayson
counties, in Virginia, to a point on the State line of Virginia
and North Carolina, under the charter of the New River
Plateau Railway Co. which company has been duly consolidated with and into the Norfolk
Western RR. Co.
Also, All branches or extensions tributary to the line or
system of the party of the first part, acquired by construction
or otherwise with bonds or proceeds of bonds hereunder together with all the rolUng stock and materials of the Company now owned or hereafter acquired for constructing or
maintaining the said lines of railrcid and their appurtenances or any part thereof and all the real and personal estate
now owned and that may hererfter be acquired and used for
the operation thereof
And also, All rolling stock and railroad equipment that
may be acquired by the Trustee with the proceeds of the
thirty tho-asand shares of preferred capital stock under the
fifth article of this deed of trust or mortgage
And together with All the corporate rights, privileges, and
franchises of the said party of the first part, now possessed, or
hereafter acquii-ed, relating to the said railroads, and all
;
;
&
&
;
&
,
&
;
;
;
;
and
profits thereof.
Subject, however, as to the said Main Line, the New River
Division and the Clinch Valley Division, to the several deeds
of trust or mortgages hereinafter more particularly referred
to, and to tlie tends issued and to be issued under the
security of the same it being understood and agreed, however, that the amount of bonds under the New River Division
First Mortgage is restricted to $2,000,000 and the amount of
:
Improvement and Extension Mortgage
is'
;
Cent Rrst Mortga.jo Gold Bonds Clinch Valley Division antl
of the Ekjuipment Morta;age Five Per Cent Bonds, under and
in accordance with the respective deeds of trust or mortgages
securing the same, is expressly reserved to the party of the first
Sart but such further issues of the Five. Per Cent First
[ortgage Gold Bonds Clinch Valley Division shall only be
made as hereinafter provided.
;
PROPERTY CONVEYED BY WEST VIRGINIA. A IRONT(W
RAILROAD COMPANY.
All and singular its line of railroad as the same is nowlocated or may hereaf'er be located, extended and constructed,
and all branch roads that may be constructed under its
charter, including the bridge that may be constructed by it
over the Ohio River, with all the rolling stock, ajjpurteand all the real and j>er8onal
nances, or any part thereof
estate now owned and that may hereafter be acquired and
used for the operation thereof together with all corporate
rights, privileges and franchises, and all rents, iijsucs and
;
profits.
PURPOSES FOR WHICH BOSD3 MAY BE I8?DED.
Fiiat
Artiole
Utue
to bt
$10,000,000.
—Contemporaneously
with the execution and
hereof the Trustee shall countersign bonds secured
hereby to an amount not exceeding in the aggregate |10,000,>
000, to be applied as follows:
1. Bonds to the amount of $1,000,000 to redeem forthwiih
$684,000 first mortga.ge bonds of the Norfolk Terminal Company, now owned by the party of the first part, aud being the
entire issue of said bonds, and the remainder to acquire togs
and barges for the transportation of coal; but said bonds shall
be delivered to the party of the first part, or on its order, only
when all of the said bonds of the Terminal Company shall have
been canceled and the mortgage securing the same released.
2. Bonds to the amount of §975,000 to reimburse the parly
of the first part for the sums of money heretofore by it advanced for improvements, additions and construction in excess
of the proceeds of bonds and capital stock hitherto issued
therefor, and after such reimbursement to further improvements, ext«'nsions, additions and constructio,n.
3. Bonds to the amount of §6,000,000 only to meet the expenditures incident to the construction and completion of
the Ohio Extension with its appurtenances.
4. Bonds to the amount of f 1,!500,000 only to construct or to
acquire branches aud extensions tributary to the Cripple
Creek Extension and to pay for the construction of the North
Carolina Extension and various branches and exten.sion3
I.
delivery
thereof.
amount of $525,000 to be reserved in the
Trustee, and to be countersigned, for the
purpose of retiring by exchange or payment, at or before
maturity, the convertible debenture loan of the Norfolk <fc
Western Railroad Company, amounting to $535,000, and
maturing January 15, 1894. Said bonds shall be delivered
from time to time upon the payment to the Trustee of a like
amotmt of said convertible debenture loan.
5.
Bonds
hands of
to the
the
,
:
rents, issues
t:.e
restricted to 8-"),0( (",000
and that the right to make further
issues of bonds of the General Mortgage Loan, of the Five Per
;
By
&
bonds under
•0^
Is.ue If hona» in exctss of $10,000,000.
— Bonds in addition to the said issue o^
and bearing interest at a rate not exceeding 5 per
cent per annum shall, from time to time, be delivered to tht>
company as follows:
1. Bonds to the amovmt of $5,000,000 to acquire by construcArticle
II.
$10,000,000,
purchase or otherwise, additional terminal facilities,
branches or short lines or extensions tributary to the line or
system of the party of the first part, aud additional real estate,
bridges, station and depot buildings, additional buildings for
use of the transportation and motive power departments, and
other additions and improvements to the railroads and property of the party of the first part. Provided, however, no part
of the said lissue of $5,000,000 of bonds tmder this clause 1 ot
Article II., or their proceeds, is to be appUed to acquire
additional real estate, bridges, station and depot buildings, additional buildings for use of the transportation and motive
power departments, and other additions and improvements,
except after a sum of money equal to the amount of the expenditures on account of which such bonds or their proceeds are
delivered or paid by the Trustee to the party of the first part,
as provided in clause 4 hereof, shall have been expended for
other similar purposes by the Company, either from its net income or from sale of its capital stock, it t)eing distinctly understood and agreed that this proviso does not apply to acquisitions
by construction, purchase or otherwise of additional terminal
facilities, branches or short Unes hereinbefore mentioned.
2. Bonds to the amount of $5,000,000 for the purpose of
paying for a second or double track on any part or parts of the
rt^roads of the party of the first part.
8. The Trustee shall for the purposes of sale deliver at anytime or times, subject, however, to clause 6 of this second!
article, any of the bonds reserved under this second article,
when and as may be requested by the Company under a resolution of its Board of Directors, and shall hold the proceeds to bo
applied in the same manner as the bonds themselves.
4 Bonds or their proceeds, reserved in the hands of the
Trustees under this second article i*hall be delivered to the
Company only upon requisitions of its President and General
Manager or Chief Engineer, stating the purposes for which they
are to be used, accompanied by the certificate of its Treasurer
tion,
£i
1
THE CHllONlCLt
KJ
that the expenditures therefor liave been made, and by copies
of the resolutions of the Board of Directors authorizing the expenditures. Bonds shall be delivered at the rate of one thousand dollars of bonds at their face or par value for each nine
hundred dollars of expenditures so certined, but after any such
delivery of bonds the Trustee shall not deliver any further
laonds, or their proceeds, until the Company shall have furnished a sworn statement as to the price at which such last
previously-delivered bonds shall have been sold; and in case
-such price shall be in excess of 90 per cent of the face or par
value of said bonds and accrued interest, an amount equal to
«uch excess shall be deducted from the succeeding certificate
of ex| enditures, and further bonds, or their proceeds, shall be
deliveied by the Trustee only to the amount of expenditures
certified, less such deduction; but in case the bonds the proceeds of which are so paid over shall not have realized at least
*0 per cent and accrued interest, the Trustee shall pay to the
aarty of the first part the proceeds of one bond of one thousand
oollars face value for each nine hundred dollars of expenditures so certified. In case of expenditures for stone or iron
bridges in replacement of other bridges, bonds shall be applied
io the payment therefor only to the extent of the increased
«06t of such bridges over the cost of those replaced thereby.
5. Bonds reserved under this second article for acquiring
branch lines and extensions shall not be issued to exceed $35,000 per mile of completed road, and shall be delivered only
-^vhen such branch lines and extensions shall have become a
part of the Company's system and be free from encumbrances
Tjrior to the lien of this mortgage.
6. The maximum amount of bonds which may be countersigned and delivered by the Tru-itee under this second article
hereof, in any one fiscal year, shall be an amount on which the
annual interest charges shall not exceed 25 per centum of the net
income of the preceding fiscal year, but the Trustee shall not
-deliver such bonds unless the net income of the preceding fiscal
year was at least equal to 40 per centum of the amount of the total
interest charges chargeable to the income of said preceding
flscal year; it being agreed " that for the purposes hereof
net
income' is the amount remaiiiiag of the gross revenue
from all sources after deducting operating expenses (including taxes), total interest charges, rentals, and other
charges and expenditures projjerly chargeable to income ac-count, but not dividends on capital stock or payments to
sinking funds, and that on bonds issued for construction the
interest accruing during the period of construction and prior
to the operation of railroad constructed from the proceeds of
such bonds shall not be included in 'total interest charges'
liereunder (except to the proportionate extent of the portion
•of railroad constructed and in operation), but shall for all the
purposes of this mortgage be considered as one of the expen'
-
ditures for and incident to construction."
Isme of bonds
—
,
iti
exceu of $20,000,000
lo retire prior liens
Article III. " For the purpose of retiring by exchange
or by purchase bonds issued and to be issued under deeds of
'trust or mortgages prior to the date hereof, including any
premium thereon, and issuing new bonds to cover the full cost
of the same, provided no increase in interest charges be
thereby created, bonds in 'addition to said issues amounting
to $20,000,000, and bearing a rate of interest not exceeding 5
per cent per annum, may hereafter from time to time" be
delivered to the company for the purpose of exchanging the
same for or of selling the same and applying the proceeds
thereof to retire or redeem at or before maturity, any and all
of the bonds of the Company, secured by the several deeds of
trust or mortgages, prior to the date hereof, and not exceeding
in the aggregate $22,825,000, and as follows, to wit
1. General Mortgage Loan, $11,000,000,
now and hereafter to be issued, secured on its Main Line between Norfolk
and Bristol-Goodson and the City Point and Saltville branches,
maturing May 1, 1931.
3. New River Division First Mortgage Loan, which has
been restricted to $2,000,000, secured on its New River Division
by deed dated May 12, 1882, maturing April 1, 1932.
3. Improvement and Extension Mortgage Loan, which
has
been restricted to $5,000,000, secured on its Main Line and
New River Division by deed dated December 21, 1888, and
xnaturing February
1,
1934.
Adjustment Mortgage Loan for $1,500,000, secured on
the property and francliises of the company by deed dated
-October 29, 1884, and maturing December 1, 1924.
5. Five Per Cent First Mortgage Gold Bonds 'Clinch Valley
Division for $2,.500,000, with an amount in addition thereto
for lateral or branch roads, now and hereafter to be issued
securedon the Clinch Valley Division by deed dated June 1
1887, and maturing June 1, 1957.
It is, however, expressly understood and agreed that further
issues of Five Per Cent First Mortgage Gold Bonds Clinch
"Valley Division shaU not be made unless they can immeidiately thereafter be exchanged and acquired by the Trustee
4.
[Vol. I.
or system of roads included or to be included in this
trust,
the
company shall transfer to the
Trustee
hereunder
30,000
additional
shares
of
its
preferred capital stock, to be held
by it until required
for
the
purposes
hereof.
The
company
covenants that all the said shares shall be sold not later than
three years after the date of the completion of the Ohio Extension,
and the proceeds thereof expended for said
purposes
but if the said shares shall be sold before the
completion of the Ohio Extension, then the proceeds thereof
shall be applied as hereinafter provided to the extent necessary to pay and meet expenditures for and incident to the
construction and completion of said Ohio Extension.
In the event of the railroad embraced in the Ohio Extension
not being completed within two years after the date of the
issue and sale by the party of the first part of $4,000,000, part
of the issue of $6,000,000, of bonds provided for that purpose,
then the Trustee shall have the right to require the sale of, in
such manner and on such terms as it may deem proper, the
whole or any portion of the said shares remaining unsold, and
the company shall forthwith apply the proceeds of all said
shares, or so much thereof as may be necessary in completing
said Ohio Extension.
The proceeds from the sale of said shares of stock shall be
withdrawn only as and when required upon certificates
stating the purposes for which they are to be used, accompanied by the certificate of the Treasurer of the Company that
the expenditures therefor have been made. And all equipment acquired with said proceeds shall be held by the
Trustee as security under this deed of trust.
Preferred stock in the hands of the Trustee for the purposes
of this article shall neither be entitled to dividends nor to
representation at any meeting of stockholders.
of
its line
deed
of
;
GUARANTY OF BONDS BY WEST VIRGISIA & IRONTON
RAILROAD COMPANY.
—
Article VIII. In pursuance of the terms of the indenture
of contract and lease, dated October 17th, 1889, between the
parties of the first and third parts, and in consideration of
valuable consideration?, the party of tlie third part herebv
assumes the payment to the amount and in the nianner hereinafter specified of the principal and interest of each and all
the bonds to be issued under this deed of trust, without discrimination as to the time or purpose of the issue of any of
said bonds. The amount which the party of the third part
assumes so to pay on the said bonds shall be $6,000,000 and
such sum or sums, in addition to the proceeds o£
said
bonds set apart to be used for
$6,000,000 of
construction
the
and completion
of
the
railroad
of the party of the third part, as may be from time
to time advanced by the Norfolk
Western RR. Co. for the
completion, equipment, extension, improvement and operation of the railroad of the party of the third part. For the
purpose of securing the payment of the indebtedness and obligation so assumed by it, the West Virginia
Ironton RR. Co.
hereby joins in the execution of this deed of trust, which shall
be a first mortgage and hen prior in effect and operation to
said indenture of contract and lease upon all its corporate
property and franchises now owned and hereafter to be acquired. It is, however, understood and agreed that, notwith-
&
&
standing the assumption by the West Virginia & Ironton RR.
Co. of payment of said bonds to the amount and in the manner as aforesaid, the Norfolk
Western RR. Co. shall and will
remain severally liable as between it and the holders of the
said bonds for the payment thereof, both principal and interest until the same shall have been paid and discharged
in full.
&
—
Article IX. The party of the third part, in pursuance of
the terms of said contract between the parties of the first and
third parts, bearing date contemporaneously herewith, and in
consideration of valuable considerations, in addition to
assuming the payment of the said bonds to the amount
and in the manner as aforesaid, does hereby further become surety for, guarantee, and in every wise join in the remainder of the obligation or liability of the Norfolk & Western Railroad Company upon all the bonds to be issued under
this deed of trust or mortgage, and does hereby guarantee the
payment in full of the principal and interest of all bonds to be
issued under this deed of trust, without recourse being first
had thereon to the Norfolk & Western RR. Co.
PAYMENT OF PRIOR BONDS.
Article X.
— All
prior bonds of the several series hereinabove mentioned, except the divisional securities referred to
in the general mortgage of May 4th, 1881, shall be paid and
extinguished at the matuiity thereof respectively, without
renewal or extension or continuation of any kind whatever,
and the interest upon all such prior bonds shall be promptly
paid as it matures; none of the divisional securities referred
to in the general mortgage of May 4th, 1881, shall be extended
imder the provisions hereof.
beyond July 1st, 1900 and in case of foreclosure and sale
All prior bonds acquired by the Trustee in "exchange" shall under either of said prior deeds of trust or mortgages, the said
be stamped non-negotiable and held uncanceled as security for party of the second pai-t its successor or successors, is hereby
the bonds issued hereunder. Wlienever all of the bonds se- authorized, in its or their discretion, to purchase the property
cured by any of said prior mortgages shall have been deposited covered thereby, as sjicli trustee or trustees, and hold it for
•with the Trustee the bonds secured by said deed of trust shall the purposes of the trust hereby created.
be canceled and the lien thereof discharged.
'
'
;
DEPOSIT WITa THE TRUSTEE OF
Aticle XII.
—In case
DEFAULT.
any default in the payment of interest or principal of any of said bonds, continued for six
Article V.— For the purpose of providing an additional months, or in case of default in the
fund for construction, improvement or equipment of any part covenant of these presents, such latterobservnnce of any other
default continuing for
$3,000,0C0
PBEF, STOCK.
of
Febeuaby
8,
1680,
THE CHRONICLE.
months after notice in writing to the party of tlie first part
and to tlie partv of the third part to observe oi perform tlie
duty or obliRation required, tlie Trustee is hereby autiiorized to
enter upon all and singular the premises hereby conveyed, and
to hold the same, and in its discretion to apply to any court of
competent jurisdiction for the appointment of a receiver.
six
thereupon such court shall forthwith apiwint a receiver,
such receiver be nominated by the holders of a majority of the bonds hereby secured, then such appointment shall
be made by the said court as a matter of strict right.
And
and
if
Article XIII.—In case of any default made and continued
as aforesaid, it shall likewise be lawful for the said Trustee,
with or without actual entry, to sell the property hereby conveyed as an entirety, at public auction, in some place within
the State of Virginia or West Virginia, which sale shall be a
perpetual bar, both in law and in equitj', against the Company,
and all persons lawfully claiming said premises. After deducting from the proceeds of such sale just allowances for all
expenses of sale and all other expenses incurred by the Trustee
in the trust, the said proceeds shall be applied to the payment
of the principal of the bonds (whether or not the same shall
have previously become due), and of the interest which shall
at that time time have accrued and be unpaid, without discrimination or preference, but ratably to the aggregate
amount of such unpaid principal and accrued and unpaid
211
use or convenience of said first or third party in connection
with the lines of railway conveyed by these presents, or to
any of the purposes to which Iwjnds secured hereby or their
All property purchased with said
proceeds may be applied.
proceeds shall be at once conveyed to the Trustee as part of
the estate hereby conveyed. The Trustee may, upon the request of the holders of $jOO,000 bonds, require any reasonable
proof as to the necessity or expediency of selling;, disposing
of, or purchasing any such real or personal property.
FORECLOSURE SALE.
—
Article XIX. Any request or other instrument required
by this indenture to be executed by. bondholders may be in any
number of parts, and may be executed by them in person or
by attorney in
fact.
Article XX.
interest.
Article XIV. -In case of default in the payment of
interest, continued for six months, or in case of default in the
observance of anv other requirements of these presents, sucli
latter default continuing for the period of six months after
notice in writing t;) the party of the first part and to the party
of the third part to observe or perform the duty or obligation
required, |then and in such case the principal of all the
bonds secured hereby shall, at the election of the Trustee, upon
written notice thereof to the parties of the first and third
parts, become immediately due and payable; and, if requested
so to do by the holders of oue-third in interest of the bonds
hereby secured and then o .tstanding, by an instrument in
writing, it shall be the duty of the trustee to elect to declare
the principal sum due as aforesaid; a majority in interest of
the holders of such bonds may, however, instruct the Trustee
to refrain from making such declaration, upon such terms
and conditions as such holders shall designate, and in such
case it shall be the duty of the Trustee to comply with such
instructions, notwithstanding any request on the part of other
bondholders, and such holders of a majority in interest of said
bonds outstanding may, in like manner, annul or reverse the
declaration, if already made by the Trustee, anything herein
contained to the contrary notwithstanding; but the action of
the Trustee or ofthe bondholders, in case of any one default,
shall not affect or impair the rights of the Trustee or of such
holders in respect to any subsequent default en the part of the
party of the first part, or impair any rights resulting there-
irom.
—
Article XV. The Trustee and the holders of the bonds
secured hereby shall have the same rights, remedies and powers against the party of the third part in case of any default
on its part as the party of the second part and said bondholders
would have against the party of the first part in case of any
default on the part of said party of the first part.
—
Article XVI. It is hereby agreed that it shall be the duty
of the Trustee to proceed forthwith to exercise the powers of
entry or the powers of sale hereby granted; or both, or to take
appropriate legal proceedings to enforce the rights of the
bondholders under these presents, upon any default under
these presents, and upon receiving fthe requisition in writing
hereinafter specified, in the manner and subject to the qualifications herein provided, that is to say:
1.
If the default consists In the non-payment of either the Interest
or prlneipal of any of sail bonds, such requisition sliail be by the
holders of not less than one-tliird in amount of said bonds then outstanding; and upon such requisition, and a pioper indemnifltatiou
aeainst all liabilities to be Incurred in that behalf, it shall be the duty
of the Trustee to euforce the riehts of the bondholders under these
presents, as the Trustee shall deem most effectual for the enforcement
of said rig Its; it being understood and hereby expressly declared that
the rights of entry and sale hereinbefore granted are inteniled as
cumulative remedies, additional to all other remedies allowed by law.
and that the same shall not l)e deemed in any manner whatsoever to
deprive the said Trustee or Trustees, or the beueflfiaries under this
trust, of any legal or equitable remedy by judicial proceedings consistent with the provisions of tliesc presents. No action shall be maintained for the foreclosure of this mortgage by any party other than the
Tiustee, except upon the neglect or refusal of the Trustee to act within
a reasonable time after it shall have been requested so to do as hereinabove provided.
2. If the default be the omission to comply with any of the provisions
of the.se presents other than the payment of the interest or principal of
said bonds, tlieu and in any such case the requisites shall be by the
holders of one-half in interest of said bonds then outstanding, and
such holders shall have power in like manner to instruct the said
Trustee or Trustees by requisition in writing (which shall bo imperative
ui>on such Trustee or Trustees) either to waive such default or to euforce the tights of such bondholders by reason thereof.
RELEASE OF MORTGAGED PROPERTY.
—
Property covered by this mortgage not neccsary for use in connection with the operation of the lines 3f
railway hereby conveyed may be sold, provided the proceeds
thereof shall be paid to the Trust>^, and shall be by it held
and applied as such party of the first or third party may in
writing elect, either to the purchase and cancellation of one or
more of the bonds to be issued under this indenture or to the
purchase of other property, real or personal, required for the
Article XVII.
—In
case of any sale of the premises embraced in this mortgaa;e under the decree of any court, based
upon the foreclosure of this mortgage, and the holders of threefourths of the outstanding bonds secured by this mortgage
shall, in writing, request the Trustee to piircha.se the premises
embraced herein, the said Trustee is fully authorized, in its or
their discretion, to make such purchase, and to disoose of the
same in such manner as the holders of three-fourths of said
outstanding bonds secured by this deed of trust or mortgage
shall, in writing, request or direct.
Article XVIII.
—
Each of the parties of the first and third
parts hereby covenants that it will well and truly pay the said
bonds which these presents are executed to secure, and the
interest due and to grow due thereon, according to the true
tenor thereof and hereof; that its liability thereon shall be
several; that notwithstanding the liability of the party of the
third part on and for said bonds, the party of the first part
shall at all times remain severally liable as between it anti the
holders of said bonds for the payment thereof, principal and
interest, until the same shall have been paid or discharged in
full; •' that it will not at any time or in any manner take, apply
for, or avail itself of any stay of proceedings, or plead, use,
interpose, or take advantage of any extension lasv, stay law,
valuation law, redemption law, or any other law of the States
in which such property is or may be located, now in force, or
whi::h may hereafter be in force in said States, and which may
in any way alter, affect, impair or impede the rights or remedies of the holders of said bonds, or of the said party of the
second part."
COUPONS WHEN PAID TO BE CANCELED.
—
1. Each of the parties of the first and third
parts further covenants that it will pay all claim? which may
hereafter become a lien upon the property hereby conveyed
prior or superior to this indenture; and that when and as the
mterest coupons of the bonds secured hereby " become payabh and are paid by the party of the first part or by the party
of the third part, or by any person or corporation for or on
behalf of them or either of them, they shaU be canceled; and
that no purchase or sale of any of the said coupons or interest,
separate from the bonds from which such coupons or on
which such interest shall accrue, and no advance or loan upon
the same, and no redemption of any coupons or interest by or
on behalf of the party of the first part or third part shall, as
between the purchasers or assignees of such coupons or interest
and the holders of said bonds, operate as keeping the said
coupons or interest alive or in force as a lien upon the mortgaged
premises; but all coupons or interest purchased, redeemed or
assigned separate from the bonds from which such coupons
are detached or on which such interest shall accrue shall at all
times be subordinated in lien to and be paid only after payment in full of all the bonds issued hereunder, together with
the coupons thereon and the interest due the holders thereof."
2. Each of the parties of the first and third parts further
covenants and agrees that it wiU maintain the railroad and
Article XXI.
property hereby mortgaged with
all
necessary equipment and
rolling stock, in good order and condition, and keep all structures and insurable property hereby mortgaged well and sufficiently insured.
APPOINTMENT OF TRUSTEES, *C.
—Any vacancy in the office of any such Trustee
Article XXII.
be filled by appointment of the Company, provided such
appointment be approved by the Circuit Court of the United
States for the Southern District of New York, and notice to
the bondholders be published in two newspapers of general
may
circulation in the city of New York for thirty days, specifying
the time and place of the application for such approval and
ratification.
In case it shall at any time prove impracticable
to fill any vacancy as aforesaid, application may ba made by
the surviving Trustee, or, if the trust be wholly vacant, by
holders of the said bonds to the aggregate amount of |100,000,
to any court of competent jurisdiction, for the appointment of
a new trustee or trustees, and upon such application a majority in interest of the said bondholders shall be entitled to nominate the person or persons to be so a])pointed by such court,
and who sliall be appointed without giving other security than
his or their acceptance of such trust.
REGISTRATION.
Article XXV. ^The party of the first part, its successors or
assigns, shall always keep, at its expens?, in the city of Philadelphia and city of New York, a register of the bonds to be
issued under these presents, in which any holder of any of
said bonds shall be entitled, on presentation thereof, to registration of the name and address of such holder and of the
numbers of any bonds held by^uch holder.
—
THE CHKONICLE.
21?
[Vol. L.
COTTON.
^ommtvtml %xmts.
COMMERCIAL EPITOME.
glue
Friday. P. M., February 7, 1890.
as Indicated by our telegnun s
from the South to-night, is given below. For the week ending
this evening the total receipts have reached 140,253 bales,
against 159,26.5 bales last week and 146,893 bales the previous
week, making the total receipts since the 1st of Sept., 1889,
The Movement of the Crop,
Friday Night, Feb. 7, 1890.
Trade on the wbole has been only moderately active. The
5,102,678 bales, against 4,600,714 bales for the same period of
dry goods trade is by no means large, and the business in 1888-9, showing an increase since Sept. 1, 1889, of 501,964 bales.
of
mildness
the
to
owing
diminution,
boots and shoes shows a
Fri.
Wed. Thurs.
Total.
Tue».
Mon.
the
Sat.
Jteceipttal—
the winter. Speculation, as a pile, is quiet, cotton being
wheat
whiter
in
the
fallen
1,559
15,854
1,821
lias
3,119
1,798
Snow
2,239
5,318
Galveston
only notable exception.
1,949
1,94»
El Paso, &c...
belt within 34 hours, and this fact had a somewhat depressing
5,165 7,368 14,073 11,317 5,281 5,518 48,712
Orleans...
New
here.
than
London
in
higher
is
Money
cereal.
effect on that
The following
is
a statement of stocks of leading
articles of
tc8.
hhds.
Tobacco, domestic
Xobacco, foreign
Coffee, Rio
Coffee, other
Coffee, Java, Jko
bales.
57,769
68,400
mats.
hhds.
boxes.
bags, &c.
hhds.
hhds.
Sugar
Bngar
Bugar
Mplado
Molasses, foreign
Molasses, domestic
688
None.
2c 0,445
418
2.186
5.200
512,500
118,583
14,434
3,417
1.117
27,900
2,910
None.
bbls.
No.
BUdes
Cotton
Bosin
bales.
bbls.
bbls.
bbls.
Spirits turpentine
5%r
bags.
Kice, E. I
Kice, domestic
pkgs.
Linseed
bags.
bags.
Baltpetre
hemp
Flour
5,.">00
65,000
3,450
10,594
23«,0e5
bales.
bales.
bales.
Jute butts
Manila hemp
Blsal
22fi,56S
bags.
bags.
bbls.
and sacks
1.
15,446
33,070
32,805
47,H09
200,4^3
24,311
66.887
13,'06
33,624
34,327
47,520
bbls.
Pork
l«rd
F,b.
1889.
Ftb. 1.
14,465
19,346
41,775
52.007
Bruusw'k, Ac.
Charleston
Port Eoyal,&o
3,957
16,218
3,987
943
930
447
276
382
176
3,1M
Wilmington
229
494
138
294
253
202
1,610
38
982
14,21.6
l.'>7.815
West Point...
951
14,034
17,100
N'wp'tN'8,&c.
67
307
None.
808,839
None.
248
2..='
00
.•582.100
22-,340
29,347
1,845
987
17,390
3.740
None.
7,300
62,000
New York
Baltimore
Philadelph'a,&c
March
deli very...
Miiydellveiy
July delivery
6-2.i
6-35
6-48
618
616
6-26
6-22
6-31
fi-37
JVt
6-17
6-18
6-20
6-33
6-46
619
6-30
6-46
e-44
6-50
649
...c.
Pork has been in fair demand and steady Old mess, §10 25
@10 75; new do., $10 75@11 25, Cutmeats have been steady
but quiet. Tallow sold to-day at 4 3-16c. Butter has advanced to 29c for the best Elgin extras. The lower grades of
butter are dull. Cheese has been firm.
Rio coffee on the spot has been more active at an advance to
17J4C. for No. 7, while mild grades have been active and firm.
The si)eculation in Rio options has been small at an advance,
to increased activity
"828
801
740
777
599
616
1,688
306
197
50
297
3»
9,574
2,7»4
4,193
3,673
3,594
3,457
1,955
2,734
522
688
3,591
Week.
Galveston
ElPa30,&c.
.
.
..
Brun8.,&c.
Charleston ..
P. Hoyal,&c
Wilmington
Wash'tn,&c
Norfolk...
West Point.
NwptN.,&c
New
York.
Boston
.
Baltimore.
Phil'del'a,
&c
919
1,1889.
Stick.
1888-89.
Week.
Since Sep.
1, 1888.
9,555 574,102
15,854 773,939
13,701
1,949
16,193
1,6841
48,712,1,709,126 38,239 1,425,516
6,468 224,383
4,528 183,124
24,125
20,521
822
25
16,218 852,701 14,673 727,996
3,987 147,917
6,897
103,917
3,154 299,192
7,340 338,035
1,768
359
13,298
1,610 126,743
1,819 141,751
38
3,707
4,255
87
14,216 361,126
7,429 427,327
9,574 288,919 10,950 328,311
43,111
2,734
9,976
90,064
4,193
64,282
74,665
3,638
50,152
3,673
3,149
57,998
4,516
3,594
57,650
52,635
47,261
1,483
3,157
33,851
140,253 5,102,678 126,347 4,600,714
Totals.
1890.
1889.
50,644
33,933
276,200
26,092
353,713
42,493
63,636
13,624
27,029
78,519
12,177
5,351
61,104
47,310
6,627
127,637
11,000
10,938
14,806
24,566
242,433
13,000
21,390
14,979
691,514
909,697
32,005
In order that comparison may be made with other years,
give below the totals at leading ports for six seasons.
Mobile
Savannah,
the European stocks last month of 150,000 bags, which created
an impression that the figures for February 1 when received
Rotwill show no marked change from those of January 1.
terdam dispatch stated that the Government crop of Java was
estimated at 190,000 piculs, which would be a small yield.
Bio options closed here with bids as follows
February
16-OOo. May
15'90c. August
15-80o.
March
16-OOc. June
15-85o. September
15-75o.
Charrst'n,&c
Wilm'gt'n,&c
Norfolk
I
610
229
Since Sep.
but a dispatch from London to-day estimated an increase in
:
894
562
1889-90.
of a decrease in the world's visible supply during January,
A
3,320
2,277
Beceiptt to
Ftb. 7.
on the spot and partly to
estimates of a small crop of Java and covering by local shorts, Receipts atwhile Rio exchange has advanced to 24i^d. The warehouse GaWston, &c
deliveries have shown some decrease. There have been estimates New Orleans
owing partly
1,343
1,300
For comparison we give the following table showing the
week's total receipts, the total since September 1, 1889, and
the stock to-night, compared with last year.
Savannah.
6-16
6-24
6-38
691
3,209
2,400
Totals this week 20,010 24,754 28,349 20,116 18,650 23,374 110.25S
500
1,525
353,193
822
3,761
1,353
None.
17,725
160
1.823
4,75)
521,200
134.663
29,4-3
4.260
1,696
35,000
5,(00
None.
7.500
70,000
None.
14,600
314,675
6,16»
2,171
4,009
DAILT OLOSDia PBIGB8 OF JJiSD FUTTrBBB.
Wed. Thur.
Mon.
Tae».
Sal.
61i*
822
903
2,439
Wash'gton, &c
Norfolk
ica 7c.
c.
c.
o.
1,826
5,101
Lard has declined, with a moderate business. To-day New Orleans.
Western on the spot sold at 6.17}^c and city at 5.70c. Refined Mobile
Florida
for the Continent was quoted at 6@6.50c and for South Amer-
February delivery
43
1,843
Savannah
1890.
50
698
Florida
merchandise at the dates given
1890.
Jan. 1.
2,364
1,487
Mobile
..
Wt Point, &c
A.11
others
Tot. this week
Since Sept. 1
i
1890.
1889.
1888.
17,803
48,712
6,468
16,218
3,154
1,648
14,216
12,308
19,726
11,239
38,239
4,528
14,673
7,699
1,906
7,429
20,926
19,708
5,333
43,278
3,421
8,626
5,997
140,253
126,347
1887.
1886.
we
1885.
12,400
40,315
7,996
13,902
8,389
1,177
9,598
4,970
7,045
6,654
26,622
3,676
5,897
7,095
5,521
12,498
12,997
8,154
39,831
3,969
9,745
4,685
1,056
13,427
9,328
17,762
99,583
108,257
105,792
68,621
1,91'^
554
7,532
2,063
8,528
5102,678 4600,714 4682,736 4594,639 4341,456 4235,398
The exports for the week ending this evening reach a total
October
15-70o. of 112,853 bales, of which 70,186 were to Great Britain, 874
Raw sugar has declined to 5}^c, for fair refining, while 96 to France and 41 ,793 to the rest of the Continent. Below are
Refined sugar has the exports for the week, and since Septeipber 1, 1889.
test centrifugal has remained at 5%c.
been dull and weak. Tea has sold at firm prices.
Wetk Ending Feb. 7.
From Sept. 1. i»«». to Feb. 7, 1890
Kentucky tobacco has bean steady, with sales, however, of
ExporUd to—
Exported to—
Exvorta
only 250 hhds., of which 100 for export. Seed leaf has bsen
Qreat
Conti. Total
Great
Contifrom—
TotaL
quiet and steady. The sales have embraced 150 cases, 1888
nent.
Brit'n.
Tient.
Week. Britain.
crop, New England Havana, at 16'a38c.; 175 cases, 1888
117,339 180.285
278.287 84,e5»
2,120
7.123
6,003
QalTeston
crop. State Havana, at 12%® 14c.; 240 cases, 1888 crop, Wis- New Orleans. 37,221
883.(153 303,814
103,51 1,371,014
18,832 ee.ooe
consin Havana, at 10 o 12c.; 200 cases, 1888 crop, Pennsyl- Mobile
41.788
44,789
Tania seed leaf, at %(eb 10c. 100 cases, 1888 crop, Pennsylvania Savannah ....
143,328
285,839 458.893
1.050
14.28'
Havetna seed, on private terms 100 cases, 1888 crop, Ohio, at Brunswick....
90.062
li>l,31»
44,018 24,248
143.602
211,886
8.107
6,107
8® 93^c. ; 150 cases sundries, at 5)^ a 38c. also 500 bales Havana Charleston
71,926
32.988 104,914
4,050
4,050
Wilmington.
at 64c.f« $1 ISJ^c, and 200 bales Sumatra at 95c.{»|2 15.
173.618
31,759 205,377
7,667
7,«B7
Spirits turpentine has declined closing at 42@ 421^1.
Rosin Norfolk
126,095
20,609 145.704
has been lower with sales to-day of 3,200 bbls. of good strained West Point...
19,876
19,876
atll.lS. Refined petroleum is unchanged. Crude certificates J^'port Nws. &c
309 333 28,423
96,074 433,830
8,061 20.006
York...
11,070
New
closed at \ffl%n 107^^. Wool has been quite and steady.
1,8 «
86.039
87,878
7,091
5)
7,010
On the Metal Exchange the markets have been generally Boston
81,012
68.165
2,813
35,853
1,519
1,2«4
Baltimore...
quiet but tin was more active to-day at declining prices. Philadelp'a,&c
1,808
19,733
888
18,121
888
February sold at 20 65(*20-70c., March at 20 '550., and April
118,863 2,103,901 428.798 1,179.971 i!7( 6.673
ToTise
Total
and May at 20-573^c. April copper sold at 14-15c. for Lake
Superior, Iron and steel are rather quiet at unchanged prices, Total. 1888-89. 107,017 6,683 31.370' 145.070U.915.976 295.509 958 550 3.170,038
April
15-95C.
1
July
15-800.
I
—
;
;
;
. .
Febsitaby
THE CHllONICLE!
8, 1890.1
In addition to above exports, our telegrams to-nif?ht also
give us the following amounts of cotton on shipboard, not
add similar figures for
cleared, at the ports named.
Ne*<r York, which are prepared for our special use by Messrs.
Carey, Yale & Lambert. 24 Beaver Street.
213
Tbb Sales and Pricks of Fdtuses
are
shown hj tha
following comprehensive table:
We
23?f
aO
'a
Vi
On, Hhipboard, not
F€t>. 7,
eCeared—for
a
wO
'^
—
(B <^
A
a<
9311
u
(B"
Leatino
at-
New Orleans...
Ootut-
Other
France. Foreign
areat
Britain.
6,459
13,229
None.
4,000
5,100
12,262
3.000
None.
226,191
26,092
20,629
87,536
22,310
18,104
106,687
52,172
Savannah
5,!500
Galveston
Norfolk
13,814
30,000
12,500
14,000
None.
None.
None.
Noue.
None.
650
None.
Total 1889...
93,013
7,109
69,678
21,963
181,793
509,721
Total 1888...
Total 1887...
72,587
59,950
18,860
4,241
41,188
51,425
20,786
18,812
162,421
134,428
747,276
789,255
Hobl.o
Cliarleston ....
New York
Other porta
400
None.
None.
S.SP
-"5
50,009
None.
6,400
26,100
28,334
33,000
20.950
17,000
1,201
29,120
None.
3,000
15,300
2,258
None.
7,S0O
3,000
Block.
Totul.
mite.
A
a.— 2.
0..-0'
ft
o:
9
a
'
1;
I
O
o
a£wS
*^
-—
jo
ta
-^
3S^
k3
MM
b.
MM 5 00 5 00 5 00
00 5^
MO 2" <6<6 2 ccco
2 M(» 2
"
oc.cc
WM
wo 2 dec
:1
=,":
.-r
sr:
MmOIM MMtOM
mWm
MMOSM M"-MM
MOOO
0000
0000
"I MM^M 0!6*6
obto*«
oaoo
a ^0 COOT 10
o oa CO
MM >
CO
CO
coqp
y& 2 KCJiM'' ccoo 2
2
»*•:
«.":
e^:
MM^IM ^^^^
MOIM
MOM
0000 0000
6?§
«e> M
o to
MM t M^- >,
MM (
CO ^ CO ^
A
f9
e-i 2
oo^5->
^o fcOMW'* CC0 2 o-£ 2
»p:
-t-WM MMOlM
MMOM
MMO^ M — PC OMCO
I4
5S
!?
fflob
"^
-
The speculation in cotton for future delivery at this market
has been somewhat less active but still animated and the
general course of prices has been upward, largely owing to
the small stock here. There was a decline on Saturday folOn Monday
lowing a fall in Liverpool and " long " selling.
there was an advance in spite of a further decline in Liverpool,
dull and lower Southern markets and rather liberal receipts at
the ports. The smallness of the stock— 113,266 bales in
licensed warehouses made operators for a decline rather nervous. There was an early advance on Tuesday which was
succeeded by a slight decline owing partly to a reaction in
Liverpool after an o))ening advance there, partly to receipts
—
at the ports of 34,445 bales, partly to moie liberal receipts at
the interior towns also, and partly to weak Southern markets,
dulness in Manchester and selling for the "long" account,
especially by the South. On Wednesday there was a rise of
Liverpool
quotations
8 to 10 points notwithstanding
were lower and the receipte
pretty
heavy, these
influences being more
than counterbalanced by large
buying for Liverpool and New Orleans account. Rumors,
moreover, that considerable cotton would be received on
March contracts and exported were not without effect. There
was a small net advance on Thursday owing to moderate receipts at the ports, a falling off in the arrivals at the interior
towns, dispatches from Texas and Arkansas stating that the
stock at interior markets was smaller than a year ago, and
" long" buying by the English, Gerbian and Greek elements,
as well as covering by shorts, the bears being less aggressive
than the bulls. To-day prices advanced 18 to 20 points, there
being a rise of 5-64d. in Liverpool, 20 points in New Orleans,
firm Southern spot markets, an advance of 3-16c. on the spot
here, an active demand from the South, some buying for Liverpool account, and considerable covering by local shorts apprehensive of small receipts next week, and nervous about the
smallness of the stock here. Spot cotton has advanced J^c,
Middling Uplands closing at 11 3-16c.
The total sales for forward delivery for the week are 678,600
bales.
For immediate delivery the total sales foot up this week
5,191 bales, including 3,477 for export, 1,714 for consumption,
for speculation, and
in transit. Of the above
bales
were to arrive. The following are the official quotations for
each day of the paist week February 1 to February 7.
—
—
I
Ordinary
Strict Ordinary
Good Ordinary
Strict
.*lb.
Good Ordinary-
Low Middling
Low Middling..
man Tnea Wed Tb.
,
Strict
MiddllTiK
8I4
8»,8
8'l6
8»8
858
811,6 8li,f
91a
9i»ie 916,6 IS""
107,8 107,8 107,8 10>a
1012
110^ loai 10% 1013,8 1013,,
jlOis-ifl 1015l« 1016,„
III4
!ll8,g ll''l6 11^18
111% 1138 118s
117,6
'lH»u 1113,8 1113,, 1178 ll's
I12»1B 12^16 125,8 1238
1238
8>,e
858
9>a
ir-
im
Good Middling
Good Middling.
Strict
Middling Fair
Fair....!
1
•
1
I
b3(-
I
Mto'^M '«<^Ce,
coot
oCcD
CO'-
<D
-I
5 MM 5
??
K>— 2 MO 2
cto
2
cco^cp
MM
00
CW
j>.
!J
coco
2
co<j»o*^
Ordinary
Strict Ordinary
Good Ordinary
Strict
Low
.Vlb.
87,8
878
87,8
9%
Good Ordinary.
8I3
81»,6
87,8
878
934
913,6
10<,8 103,6
Middling
Low Middling..
Middling
Good Middling
Strict Good Middling.
Middling Fair
Fair
~JtO
&X
M
MM
5
*-»m1
CO
ti;
m'om
MOM
mCo
MMgM
CO
©P:
o®
2
toco to'*
&r:
2
>«
a>
I
eoi
MM
00
M
[>.
2
I
c-co
MO
o®
SI.'-:
81a
816,6
913,6
MM
MM
66
10%
11'4
III3
11^18
Ilia
1188 1158 1168 1111,6 mil.
121,8 }^'" 121,6 1218
1218
12»1«
129,6 1258
1258
STAINED.
Low Middling
81(6
I
811,6
968*
8l„
,
958
107,6 llQiiB
MARKET AND
95g
107,6
Til.
818
81j8
8%
8tMe
I
Middling
Wed
raon Tnea
Sat.
.9. lb.
8%
911,8 911,8
lOia
lOHi
&-'^l
-iA
2
Ri^'
CLOSBU.
Ex-
Oon-
port.
tump,
!5^
loio
2
-I
ill
eii^;
mm£m
COgo
I
Dull .
Mon. Quiet
Tues.iQniet
Wod Steady at 1,6 ad.
Thnr. Firm
Frl... [Firm at 3,4 adv!
3,477
Total
3,477
Bat.
.
.
942
155
192
45
141
239
1,714
Spec- Trantit.
I
1^03
-M
co
oeo
I
M
to-
5
2
»-«:
ceo
2
r9 ?
o®
2
COCOM'^
MmOM
1^9."
OMC^i
CO
2
CO©
I
I
1m*c
2
MM
MO
"
sP:
66 CA
MM
CO 2
t>.
2
I
C50S
I
a
2
I
w<c^
cncn
.-;
2
'^
6)
Cfloi
©to
2
**
cj'dt^cj"
CO
-gCD
tOM
MIO
I
@
2
^
:
to
toto
toco
!«
»
00 ^
>^y'
2
'^
:
1
:
I
01
CO
OO^CJI
00
Oi
M
b>
9l
3
«.*-:
'
.
to
10* to
COOi
rf*.
-ICO
CB
CJ
!
•
?
99
MM> A
CDOO
^
&«•
MMOtM
er:
MMtOM MMCOM
coco
0000
I
I
I
COCO
Miic.i
®o ®
»
MM
MM > CC 5 CO
CC >
c
CO
5
MO 52 s
MM 2 0005
MO a
66 2 C*"
ots
8.^:
^
@
S
MMl^M M
MM®M MMCM M C*M MMCCM 0000
c
3| oooc OCOO OmI CO OCOO
AftCo
I5
'*
:
I
I
*<
:
I
QD'^
:
I
to
"^
a
MMCOM
:
1
I
«
M
O
I
I
g!
M
o
<=o
O
MM
5^
00 >
M^ 2
oso
1^
&
I
I
I
I
I
I
I
^
coco
QT^
U'U
1111,8
1178
125,8
1213,6
I
Frl.
I
CO
%
I
I
I
%
I
I
e^
I
I
I
I
I
* Includes sale.'* In September, 1889, for September, 147,600; Septem*
ber-October, for Octol)er, 640,600; September-November, for November
636,200; Soptemljer-Dccombor. for December, 957,20jj September
January, for January, 1,570,100.
We nave Included in the above table, and shall continue each
week to give, the average price of futures each day for each month. It
will be found under each day foUowlni; the abbreviation " Arcr " Tho
average for each month for the week is also given at bottom of table.
Transferable Orders— Saturday, lO'SSc: Monday, 10-95c.; Tuesday,
10-90C.; Wednesday, 10-95c.; Thursday, ll-OOc; Friday, ll-20c.
ly
SALES.
ul't'n
2
I
to
CO
00
107,6
101B,6
SALES OF SrOT AND TRANSIT.
SPOT MABKET
&":
MMWM
0000
8 PI
S
II: MMl(».M
M
CCOO ^^^f-t
OOCC MMMM
OCOO OCOO OCOO
oCu, 9:
I
81116
918
iQiin
M
MM >
93 »<
C006
"i-O
»«":
ep:
MMCCM MMrOM MMC;tM MMOCM
Mr-OM MMOM MMOM t-MOM
.1^10,1
ImO^
K.K1CM Mii°M
ODO CO iota <i -10 CO CW M tvt9 O
MM
h,
MM
> >-^^
CO 5 CO
<i
99 ^ CC 5
9
I
10
85,6
816,8
978
COCO
toco
Mp-'Ot-'
FrI.
lUie III4
I
g §
5
_,
9%
10>4
2
6).*:
MMODM
Id?"
I
*-*
878
ll'ie
U'4
U'le
Til.
5
MOM
MMCOM
M,-OM
I
,^M*6
Cm
C'
MM
KM >5
ccto
2 Ml-* A MO *
tf^F^M*^
ODOM'^ COOimI
e,P:
er:
MMOiM MMOM
MmCM MM O
mmCjI
MM^M
eCQO
CO
MC. C
M ^ MM ^ r-^^ >
Em
M
MM J ^r.^
MC 2
COCO
pit.
rf>.CH
10>4
10U„ 10^
lOll?,
Strict
Good Ordinary
Strict Good Ordinary.
Wed
raon Taea
Sat.
00
OCOB
MMhSM MMCOM MMCOM MMCriM MMOM MM|**M
MmCM MMOO
MMCM MMOM
MmCo CO'^O CO*© 66®t6^^ 9929OS
1
I
GULF.
«
r
MM^
CO'
82
MM >•
I
PrI,
101,6
1011,8
11
ll'lB
ll'ie
11"^
121,8
:
I
—
Sat.
91
I
—
UPLANDS.
1
1
_
.
,
Total.
4,419
155
19U
45
141
239
Bala.
83,000
115,500
101,000
119,200
81,100
178,200
5.191 678,000
grU*.
The following exchanges have been made during the week.
05 pd. to exch. 1,000 Apr. for May -05 pd. to exch. 100 Mch. for April.
•11 pd. to exch. 300 April for July. -11 pd. to exch. 400 Mch. for June.
^14 pd. to exch. 500 Mch. for July.
•20 pd. to exch. 700 Feb. for Aug.
•03 pd. to exch. 300 April for May. -12 pd. to exch. 300 Mch. for Jute
-04 pd. to exch. 400 May for June.
•06 pd. to exch. 400 Mch. for May.
•07 pd. to exch. 100 April for June. •Oa pd. to exch. 100 Feb. tor Mch.
THE CHRONICLE.
214
The Visible Supply of Cotton to-night, as made up by cable
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. 7), we add the item of exports from
the United States, including in it the exports of Friday only.
•nd
Total Great Britain stock. 1,021.000
2,400
Stock at Hamburg
Stock
Stock
Stock
Stock
Stock
Stock
Stock
Stock
Stock
133,000
5,000
at Bmncii
at Arast«rdam
at Rotterdam
at Antwerp
at Havre...
at Marseilles
at Barcelona
at Genoa
at Trieste
1887.
912,000
11,000
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:
695,000
3,100
14,000
21,000
867,000
4,300
43,300
26.000
923,000
3,300
24,700
32.000
300
Wtek ending
6,000
176.000
4,000
94,000
12,000
12,000
300
500
300
900
95,000
3,000
41,000
5,000
7,000
182,000
2,000
48,000
4,000
4,000
444.700
189,900
314,800
Total Enropean stocks..
„ 1.200
247,000
3,000
37,000
4,000
8,000
360,500
884,900 1,181,800 1,283.500
90,000 183,000
200,000
412,000 383,000 534,000
47,000
34,000
54,000
909,697 923,6t<3 891,495
317,022 333,472 300,323
37,269
15,275
10,673
1.465.700
181 .000
400,000
~ torE'r'pe
"
47.000
Egypt.Brazil.&c.aflt
691,.')14
Stock in United States ports
8.
interior
towns..
255,946
in
Stock
U.
17,809
United States exports to-day.
..
India cotton afloat for Europe.
Amer.cott'nafloatfor Europe.
—
.
Feb. 7.
3,058.969 2,792,894 2,969,628 3,263.587
Of theabove, tnetotalsof American and otber descriptions are as
Amertcan—
American afloat for Europe...
United Stiitea stock
United States interior stocks..
United States exports to-day.
Total American
East Indiav, Brazil, dc.
Liverpool stock
25.1.946
17,809
afloat......
Total East India, &c.
Total American
133,000
4,000
55,900
200,000
54,000
207,000
15,000
85.700
181,000
47,000
Londonstock
,!tc.,
714,000
260,000
534,000
891,495
300.323
37.269
2,523,269 2,345,994 2,497,828 2,737,087
—
Continental stoclJS
India afloat for Europe
Egypt, Brazil,
601,000
186,000
383,000
923,083
333,472
10.673
558.000
134,000
412,000
909,697
317,022
15,275
797,000
359,000
400.000
691,514
bales
Liverpool stock
Continental stocks
follows;
...
...
198,000
11,000
100.500
183,000
34,000
179,000
27,000
128,800
90,000
47,000
535.700 446,900 471,800
2,523,269 2,315,994 2,497,828
2,
CLOSING QnOTATlONS FOB HIDDLINO COTTON
Satnr.
Hon.
10«,8
IOI3
Galveston...
New Orleans
Mobile
10%
10%
lO'is
Savannah...
io4
10' «
Charleston.
lOSs
1038
1058
WilminKton.
Norfolk
Boston
Baltimore...
Philadelphia
Augusta
....
Memphis
...
Wedna.
rue*.
10%
10%
10%
10%
10%
10%
10%
lO^ig
10 >4
10 ',8
10 >4
10 "4
10',8
10%
10%
10%
10%
10%
10%
m.
10%
10%
105i
1012
OK—
TKuri.
10»,8
10%
10%
10%
10%
10%
11%
11%
lO'ie
11%
11%
10<i«
ii4
1114
1015,8
ll-e
10161J
1016,8
1016,8
101»18
11%
10%
10%
10%
10%
10%
10«,g
101,8
10>fl
11%
10%
10%
10%
Louis
Cincinnati
..
IOI3
10!^
Louisville.
..
10^
St.
The
Total visible supply
—
1888.
840.000
27,000
300
Total Continental stocks
Quotations for Middunq Cotton at Other Markets.
1889.
15,000
Stock at I>ondon
The above totals show that the old interior stocks have
decreased during the week 7,428 bales, and are to-night 61,078
bales less than at the same period last year. The receipts at
the same towns have been 1,219 bales less than the same
week last year, and since Sept. 1 the receipts at all the towns
are 144,548 bales more than for the same time in 1888-89.
691.000
4,000
1890.
bales 1,006,000
Stock at I.tverpool
[Vol. L.
10>a
10%
10%
10%
11%
10%
11%
ii',«
10'};
107
I05„a%
10"l6
I0»,g
io4
10%
10%
io'2
loC
10%
10%
10%
closing quotations to-day (Friday) at other imix)rtant
Southern markets were as follows:
Atlanta
10% Little Eock....
10 14 Montgomery..
Columbus, Ga.
10% Rome
10%
10% Selma
10%
Columbus, Miss
10>4 Nashvllle
10% Shreveport
10%
10 14 Raleigh
Eufaula
10%
Receipi's From the Plantations. The following table
indicates the actual movement each week from the plantations.
The figures do not include overland receipts nor Southern
consumption; they are simply a statement of the weekly
movement from the plantations of that part of the crop which
finally reaches the market through the outports.
—
RM0ipt< at tlu Portt. SVkat Interior Toum*. Rcc'pti from Plant 'ns.
1889.
526,500
737,087
1888.
1890.
1889.
1888.
1890,
[
1889.
1890.
15».3e»i 202.924 1 8.640 461.804 448.660 417.580 127.229 181.580 230,868
145,711 159.1 19] 139,826 137.202 1435.668 395.4701121,139 148,02: 117.136
<
'.i
i
Total visible supply
Price Mid. Upi., Liverpool
Price Mid. Upl., New York
3,058,969 2,792,894 2,969,028 3,203,587
6d.
558d.
lO^so.
H'ltC.
DM: 92,0jS
90,130 177,821 148.892 398,012 389,643 325,079! 64,810
98,««8 155.364:159,245 379,556 361.2Se 287.8841 80,212
99,5^3 126,347 140.253 a68.8e3J336.921 280,5481 88,6i0i
105.403 149,178 158,8«*' 123,8321407,093 369
S^sd.
S^sd.
lO^sc.
912C.
E^
The imports into Continental ports this week have been
105,000 bales.
The above figures indicate an increase in the cotton in sight
to-night of 256,075 bales as compared with the same date
of 1889, an increase of 89,341 bales as compared with the
corresponding date of 1888 and a decrease of 204,618 bales
as compared vidth 1887.
At THE Interior Towns the movement—that is the receipts
for the week, and since September 1, the shipments for the
week and the stocks to-night, and the same items for the
corresponding period of 1888-89 is set out in detail in the
following statement.
—
WW2
000
B
'
i
G
no- CJ P
p 0»i
1-
-
^'
% =i.g e B 5 c^n
< 3 S ^C.Sas
B E m
'i
O
= a-
o.
C3-
1888-89
—
were 4,921,860
CO 00
P7>
>
.*
.
BB
"
126,950 122,079
101,621 132,917
—That the total receipts from
1, 1889, are 5,370,782 bales; in
bales; in 1887-88 were 5,027,569 bales.
2.
That, although the receipts at the outports the past week
were 140,253 bales, the actual movement from plantations was
only 132,917 bales, the balance being taken from the stocks at
the intenor towns. Last year the receipts from the plantations
for the same week were 101,629 bales and for 1888 they were
88,690 bales.
—
Amount of Cotton in Sight Feb. 7. In the table below
we give the receipts from plantations in another form, and add
to them the net overland movement to Feb. 1, and also the
takings by Southern spinners to the same date, so as to give
substantially the amount of cotton now in sight.
1
op
Sb'Sd'P
w
o
c*g-
1.
122,418
160,371 112.631
the plantations since September
1-
00
to
o-
:2B;
The above statement shows:
120,70;
1889-90.
1888-89.
|
1886-87.
1887-88.
'Cf
Receipts at the ports to Feb. 715,102,678 4,600,714 4,082,730 4,594,639
Interior stocks on Feb. 7 ini
excess of September 1
268.104 321,146 344,833 284,738
:
BB. >
I
1
^^
^?^
03 ccif^ CO
)f^
oi
a
'-'
M
00 Oi to 00: to
to to 01 H* to
O
i^i^
P
i^
r^
"^w
VcO MM QD V <CCi C. <l 01
tfk
OS
--4
tO!D CD
O CO O h* « O O ^ -^
Tot. receipts
*9
from plantat'ns 5,370,782 4,921,800 5,027,509 4,879,377
718,0251 659,589 792,413 583,220
270,000 265,000' 240,000 194,000
Net overland to February 1..
Southern consumpt'u to Feb. II
I
CCH-*gO-qOOl(©CC»-CtON,Wrf».00**X
Total in sight February 7... 16,358,807 5,870,449 0,059,982,5,056,597
t— to 05
I-"
C001'-'01tf*-tOtOtO<|--J-*COCOI-**JWO»'^QO
o CI M^fph cop -j_f-t to cc w p CO -J M •g ro
Ol^llOO) — CDODOlffiCo'iSM'^^Cc'ii^O^l'tO
to en X to -q M
CO *4
Oi 01 CO Ol 00
CO
<i
c?
M -q
CD to
rf!>.
<^ #^ 01
X O U CO
C-i
O 10 Ol o
o»
Oi CO to r^ CO
O
M
»F^
<l-xQo:0(P'.OOi
CJi tfk Cfl
-kI
I
I
I
c;i
tv>X'ir>-COC03:«»^01CCCOCOrf^OOC;)h-r-'CO<X'^
CO
xaDMtocco;Hi-'co*qh-oototoa»(xc;o'io
Weather Reports by Telegraph.—Our telegraphic
advices from the South to-night are generally of a favorable
tenor, and reports from Texas state that good progress is
being made with farm work.
The rainfall has been rather
heavy in portions of Arkansas and Tennessee.
Oalveston, Texa^.
have had dry weather all the week.
Average thermometer 69, highest 74, lowest 65.
Palestine. Texas. There has been no rain all the week.
Crop preparations are active. The thermometer has averaged
65, the highest being 79 and the lowest 51.
Huntsville. Texas. Much ploughing has already been done.
The weather has been dry all the week. The thermometer
has averaged 68, ranging from 54 to 82.
Dallas, Texas. There has been no rain this week. The
thermometer lias ranged from 44 to 79, averaging 66.
San Antovio, Texas. Plowing is progressing. We have had
no rain all the week. Average thermometer 64, highest 81
and lowest 46.
LuHng. 7'rxas.
Field work is
good taia is needed.
active.
The t'.iermoraeter has averaged 64, the highest being
OitvO:CDtO'^-JroCO--100iit-l-»CO<IOCOO
Ce --JM
*•
O O CO
(fw
M
MM
-© <J GO
•-*
QD <J
HI <l
0S_^
'b;tf^toxoi--JoiH'Qoco
i-»xos toco Qo CO cm:
Northern spinners takings to
February 7
1,440,339 1,338,403 1,379,2121,184,362
It will be seen by the above that the increase in amount in sight
to-night, .OS compared with last year, is 48i, 358 bales, the increase as
compared with 1887-88 is 298,825 bales and the increase over 1886-87
is 702.210 bales.
>f^
O - 4 OS (^ X OS o -q M
CO
tO *»'-' CO CO
10
<1 CO
V4^"'^*».osxcnM
cor-o'Ciioocoa:xc;»citocjixooocn
xxocn»t-cooooiui"j'ixcocmo — to
^
ft-
— We
—
M
<I
ci CO
M
o o OS
»^
a* to
>-•
c;t
o
-1
rf*.
Orf»-»P>.01XCJiO
<JMOSI-*MtOM
CI
oM
vT H OS 01 to O
O
CO O OS
O CO CO
•- to
rf».
c;*
*Fk
cooicoc;ttoioc:tcocoit^i-'CDCOOscoc;riUtoit^
rf^OM(COXOCOK)<ICnOOO»-MXtOtU.itk
XCJiXOlMOi^X^CXOit-'rfi.'jitOXOXCn
si
—
01
M
X to OS
^o CO CO "J OS
o» o oi co o» oi oi
X C 0»_^^
Ci OS C»X to X CO
OX
X X O OKI —' ** 0^ to r-'OSOD OS CO "^ 01
O-^r—CO^OCOOSiXXCOOSCOXOSCOl^CJiM
»0l*>"
OS
*k.
;-Jj-p *»
Cii
C'"
rfh."cO
—
CJ'CtOCJt-gtOCDCCMCnWXtOOSXCDO'-^OS
—
to
O t^
'V»
OS
tfi.
Ot «-•
CC«t-MCO-ICO*>
COtOXCQOtOO
CO en
looco-j'
H<1
— Qo
OS
*
;
fc-
X Ci
in
_M
<** I-*
or
too* CJ'to'to'^OiMMtfkVcDMClloi*.
x<iMO». xxh-«-«oic;'«eooi-'*'C;iO(0
M
cococoifk.oiO'*axrf^cj'Cxtox
--M
1-
—A
to
00
1889 d:?ure3 are for Palestiuo. 1 1889 Hjtures are for Petershuig
Louisvi lie in both years are " net."
§ This year estimated.
80andtheloAeiit48.
Columbia, Texas. Plowing has been begun.
We have
been without rain all the week. The thermometer has averaged 67, ranging from 56 to 78.
—
:<•
•
Va
Febhuaet
THE OHRONICLE
8, 1860.J
215
—
Brenham, Texas. The weather has been dry all the week, the shipments since Jan. 1 show a decrease of 13,000 bales.
and field work is actively going on. Average theraiometer 72, The movement at Calcutta, Madras, and other India porta for
the last reported week and since the 1st of January, for tvfo
highest 83 and lowest 60.
New Orleans, Louisiana. Wo have had rain on two days of years, has been as follows. "Other ports" cover CojlffUt
averaged
67.
has
Tuticorin.
Kurrachee and Ooconada.
the week. The thermometer
—
Louisiana. — Rainfall
for the week ninety-two
Shreveport
hundredths of an inch. The thermometer has averaged 69,
the highest being 78 and the lowest 51.
Meridian, Mississippi. Light rain has fallen on one day of
the week. The weather has been pleasant and favorable for
Planters are actively preparing their
plowing operations.
utnds for another crop, and large quantities of fertilizers are
Receipts of cotton by wagons much larger
being bought.
than usual this week.
Vicksburg, Mississippi. It has rained on one day of the
week, the rainfall reaching ten himdredths of an inch. Average thermometer 69, highest 82 and lowest 59.
Columbus, Mississippi. We have had rain on two days of
the week, the precipitation reaching forty-four hundredths of
an inch. Average thermometer 58, highest 70 and lowest 48.
January rainfall three inches and sixty -three hundredths.
Leland, Mississippi. Telegram not received.
Helena, Arkansas. Rain has fallen on three days of the
week, on one of which heavily, the rainfall reaching three
inches and thirty-seven hundredths too much rain for farming interests. The thermometer has ranged from 48 to 73,
averaging 56. During the month of January the rainfall
reached ten inches and thirteen hundredths on twelve days.
Little Rock, Arkansas.
About half of the past week has
been fair, and the remainder cloudy with rain on two days.
The rainfall reached one inch and fifty-seven hundredths. The
thermometer has averaged 56, ranging from 40 to 78.
Memphis, Tennessee.— It has rained on four days of the
week, the rainfall reaching one inch and forty -five hundredths.
The thermometer has averaged 34, the highest being 75 and
the lowest 41. Rainfall on sixteen days in January and the
precipitation reached eight inches and forty-tliree hundredths.
Nashville, Tennessee. ^We have had rain on three days of
the week, the rainfall reaching one inch and ninety-three
hundredths. Average thermometer 56, highest 75 and lowest 40.
Mobile, Alabama. There has been no rain all the week.
The thermometer has averaged 66, ranging from 51 to 75.
Selma, Alabama. There has been no rain all the week;
average thermometer 60, highest 75 and lowest 49. Rainfall
for January one inch and seventy-eight hundredths.
Montgomery, Alabama. There has been no rain all the
week, but rain is now beginning to fall. The thermometer
has ranged from 47 to 78, averaging 62. During the month of
January the rainfall reached two mches and fifty-three hun-
SMpmentt/or
—
—
—
—
—
—
—
—
—
—
—
dredths.
tke week.
Great
OotM-
Britain.
ntni.
Bhipmtnit tinee Janitary
Great
Total.
Britain.
Oontinml.
U
Total.:
Caloatta-
1890
1889
3.000
1,000
6,000
4,000
6,000
10,000
13,000
11,000
19,000
1,000
i'.obo
1,000
2,000
2,006
1,000
i.opo
1,000
3,000
1,000
2,000
3,000
4,000
10,000
3,000
3,000
13!0<I«
3,000
6,000
4,000
2,000
7,000
8,000
11,000
22,000
16,000
16,000
iI:88S
2,000
3,000
HaOraa1890
1889
otbera—
1890
1889
All
Total all-
1890
1889
The above
week show
than Bombay is 1,000
totals for the
that the
movement from
the ports other
bales less than the same
week last year. For the whole of India, therefore, the total
shipments since January 1, 1890, and for the corresponding
periods of the two previous years, are as follows:
BXPOBTS TO ECBOPB FBOH
1890.
Shipmenli
alt Europe
TIU4
week.
Jan.
All otber ports.
85,000
7,000
Total..
92,0001
to
from—
Bombay
....
AlA,
WDU.
1889.
TMt
Since
1888.
week.
Since
Jan. 1.
This
week.
190,000
27,000
65,000
8.000
203,000
38,000
15.000
6,000
94.000
32.000
217,000
73,000
241,000
21,000
126,000
1.
Sinee
Jan.
1.
—
Alexandria Receipts and Shipments. Through arrangements we have made with Messrs. Davies, Benacni & 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. Egypt,
Ftb'uary
5.
Eeoeipts (oantars*)
This week....
Since Sept. 1.
1889-90.
1888-89.
188r-88,
100,000
2,808,000
70,000
2,378,000
53,000,
2,658,000,
ThU
week.
/Since
Sept. I.
TAi*
Sinee
week. Sept. 1.
TMt
Sinct
week.
SepLl.
Exports (bales)—
To Liverpool
12,000 212,000 9,000 186,000 7.000200.000
Auburn, Alabama.-— The week's precipitation has been
To Continent
8,000 102,000 8,000 94,000 8,000| 116,000
twenty-six hundredths of an inch. The thermometer has
averaged 61-3, the highest being 75 and the lowest 45.
Total Europe
20,000!314,000| 17,000|280,000 15,000{3 16,000
Columbus, Georgia.— We have had no rain all the week.
' A cantar Is 98 pounds.
The thermometer has ranged from 45 to 75, averaging 62.
This statement shows that the receipts for the week ending
During the month of January the rainfall reached two inches
Feb. 5 were 100,000 cantars and the shipments to all Europe
and eighty hundredths.
Savannah, Georgia.— The weather has been mild and 20,000 bales.
pleasant all the week, and without rain. Average thermometer
Manchester Market. Our report received by cable to-night
63, highest 79, lowest 43.
January rainfall forty-four hun- from Manchester states that the market is dull for both yarns
dredths of an inch.
and shirtings. The demand for India is poor. Mills are parAugusta, Georgia.— The early part of the week was clear tially stopping work. We give the prices for to-day below,
and pleasant, but during the latter portion there has been rain and leave those for previous weeks of this and last year for
on one day, to the extent of fifty hundredths of an inch. The comparison:
thermometer has averaged 59, the highest being 79 and the
—
1890.
lowest 36.
1899.
Charleston, South Carolina.— There has been no rain all the
Ootfn
Ootrn
32< Cop.
32»
Cap.
8H lt».
8^ Ibt.
week. The thermometer has ranged from 49 to 79, averaging 62.
Mid.
Mid,
Twitl.
Shirtings.
Iwiet.
Shirting*.
Upldt
Ppldt
Stateburg, South Carolina.— No rain all the week. The
weather is colder and threatening to-day. Average thermomed.
d. a. d.
8.
d.
d.
d.
d.
8.
d.
8.
d.
d.
ter 58-2, highest 78-1, lowest 37-4.
5»8
7'8 »839 6
January rainfall ninety Jan. 3 an wsis 6 1 «7 3
»7 1
539
" 10 8>4 *8^ 6 3 »7 3
5% 7i5ie»87„ 6 0ia»7 IH 51a
hundredths of an inch.
" 17 8^ «8% 6 3 «7 3
5l»16 7ihe®8i,8 6 1 ®7 1>9 ft'i*
Wilson, North Carolina.— Rain has fallen on one day of the
" 24 6^ SS-'a 6 4 37 4
e-fl
7'B,8^S87ie 6 1 »7 lis Sii
week, to the extent of fouVteen hundredths of an inch. The
" 31 81a ^S^a 6 4 97 4
6I16 7l6,e*8't, 6 1 »7 lis 5>fl
8i|« «8B,. 6 2 97 2>«l 5<%
thermometer has averaged 55, the highest being 76 and the Feb. 7 SHi a'8''9 6 4 87 4
6
lowest 86.
Overland
Movement,
&c., to February 1. In our
The following statement we have also received by telegraph,
showing the height of the rivers at the points named at 3 editorial columns to-day will be found our regular statement
o clock February 6, 1890. and February 7, 1889.
of overland movement, receipts, exports, spinners' takings,
—
down to February 1.
Jute Butts, Bagoino, &c. The market for bagging is
rather quiet and there is an easy feeling as to prices, though
no change has been made, and quotations are 6^c. for t}4
pounds, 7i^c. for IV pounds, 8c. for 2 pounds and 8%c. fior
standard. Some tiade has been done in jute butts on easy
figures and paper grades are quoted at 1^^® l-65c. and 1^^
&c., brought
New Orleans
Memphis
KasUvllle
Bhreveport
Victaburg
Above
Above
Above
Above
Above
—
low-water
low-water
low-water
low-water
low-water
India Cotton Movement
and shipments of cotton at
the week and year, bringing
BOMBAY BECEIPTS AND
SMvmettIt IMm week.
Xear Great
ContiSriCn. nent.
1890
1889
1888
1887
I
Total.
7,000 7S, 000 S5.000
1-1.000 51,00(.l65,000
2,000 1.3,0001 l.'J.OOO
10.000 23.000,33,000
mark.
mark.
mark.
mark.
mark.
from all Forts.—The
Bombay have been
the figures down to
receipts
as follows for
Feb.
6.
'
SHIPMENTS FOB FOOR YEABS.
Shipmen:s tinee Jan.
Great
Btitoin
Oontinent.
21.000 109.000
53,000,150.000
20,000i 74,000
28.000! 105.000
According to the foregoing,
1.
Total.
Receipt*.
ThU
Keek.
190,000 06.000
203.000,73.000
94.00041,000
133.000 36.000
Bombay
Since
Jan. 1.
3 1 9.000
336.000
194,000
245,000
appears to show
in the week's receipts of
shipments of 20,000 bales, and
"=*^'nP*red with last year
S^rS^uV
7,000 bales, and an ijKreaae in
Z}4c. for
bagging quality.
East India Crop.— Messrs. Gaddum, Bythell
dated Bombay, January 3, says:
& Cc's report^
Although some of the uprountry marketi were closed duvlne one or
two daj 8 for the holidays, the liKurcs show an Increase over those of
last week. There has been a markfd ch
in the temperature during;
thew^ek, the intense cold that has prevailed hllhorto havinit Klvep
place to warm weather. Crop pnibpecis are, Lowe> er, not affected.
mne
The Bombay Company's cotton report of the same date says:
The
mills have been large buyers, and are reported to have bought
over 20,t(j0 bals of ready cottiin nur ng the past fortnight. Receipt*
ooutluue larger than last year, the eiotsi beicg enilrdy ncounted for
by the larger arilvxls from the Bengal disiricts. lu esllm^itiuK the
shipments fur the cun ent klz months. It must he reme'nber> d that an
unusually larne quantity ot new cotton has been aliipped during
October-December last
} ear.
TSE CHRONICLE
216
From
Price Current of January 3 the following
Bombay
the
[Vol.
News.—The
Shipping
exports of cotton from the United
1b taken:
States the past week, as per latest
ttie
98,535 bales.
The tolegTsplilo weather and crop reports If sued at the bejrinnlng of
week spoke of cloudy and unseasonable weather In the DhuUa
district of the Oomrawuttee circle, where the picking of the cotton
plants was general, but made no mention of rain; and tbe cron estimate
for that district was given as twelve sixteenths. In the Khanf^auni
and Barsee districts of the same circle, though the weather wa.s eloiidy
aiidthroatenlDg.no rain has actually fallen, and at Ooiuranutteo and
Jalgaum the weather contlnuea bright, with no sign of rain. Soiisonal)le weather prevailed aUo at Broach, and In the Dho'.lera circle
generally, and at Bliownugger cotton was anivlng In small qnantitles.
According to the reports to hand by wire to-day the weather had
become seasonable where It had been threatening, and in other respects
tbe previous favorable advices are contlimcd.
Domestic Exports of Cotton Mandfactukes.—Through
tfae courtesy of Mr. S. G. Brock, Chief of the Bureau of
Statistics, we have received this week a statement showing the
exports of domestic cotton manufactures for December, and
for twelve months ended Dec. 31 1889, with like figures for the
corresponding periods of the previous year, and give them
,
below:
are the
Month ending Dec. 31.
Cot-
ton {colored and uncolored]
exported to
—
—
great Britain and Ireland
ther countries In Sarope
British North America
13
mo8. ending Dec. 31
1889.
1888.
8,414,632
2,645.r«9
2,2fifl,l«0
81S.36S
9,018,588
12.444.206
604.365
U5G.018
383.455
682.810
874.9tMl
7.80n.0S8
1S.H98.H69
5,0S2.llH
8,eil.64M
1.V8»,861
2,316,564
1,000,000
I9.044,«,(
4.0I3.7HO
1H.B38.319
24,192.719
S1.0U.603
8.SBS,030
6.576.807
4,0«5.844
in,»2n,174
5.421.232
827.647
661,398
75.903
3,440.339
11,918.'-9I
II.WIW.^SO
I8&7.384
$•0719
t842,786
|8,bS5.V88
(9,2e0.451
(0723
$0718
1-0700
117.7.15
121.084
1380.164
981
200
1.25S
13,401
(4el.«44
20.9(6
431.82H
187,600
"
i2».860
"
Central American States and
MSS,043
"
British UoDduras
Indies
660.171
"
West
1,941.408;
'*
Argentine Republic
337,001
604.256
134.X10
l,8a7.815
"
Brasll
"
United Ststes of Colombia.
Other countries In S.America
Ohlna
Other countries in Asia and
Ooeanica
Africa
Other countries
.
**
"
l,720,0;iU
"
1.552.037
•'
l,61ie.»a2
"
Total yards of above..
1888.
321,598
84.837
36.40829,900
yards
"
Mexico
Total values of above.
Yalueperyard
TiAutt of other Hnnufacturea of
Cotton exported to
Oreat Britain and Ireland
7,975.063
Hi<S.603
7.420.433
1
1
,85:1.996
3.,<!01.51fl
7.20:i.46S
9,0 17,6.S7
132.509,249
—
Germany
France
Other countries In Europe
British North America
Mexico
Centra] American States
Honduras
West Indies
625
1.256
22.»S6
16,181
& British
4.683
10,604
1.809
10,910
28,874
I SI
7,708
United StiitHB of Colombia
Other countries in So. America
Asia and Oceantca
Africa
Other countries
returns, have reached
same exports reported by telegraph and pubUsbed in
With regard to New York we
the Chronicle last Friday.
Include the manifests of all vessels cleared
up
to Thursday.
Total bale$,
Nbw York—To
Liverpool, per stpamers Bothnia, 1,708
Laplace, 1,035
1,503 ....England, 1,103
Wisconsin, 547
Martello, 1,971
To Hull, per steamers Colorado, 1,076
....Volturno, 1,520
ToLelth. per steamer North Flint, 609
To Havre, per steamer La Champagne, 874
To Bremen, per steamer Trave, 384
Moravia, 1,680
To Hamburg, per steamers Italia, 2,367
Celtic,
....Rus-ia, 682 ...Sorrento. 686
To Amsterdam, per steamer Edam, 261
To Antwerp, per steamers Frteslaad, 1,000
66
15.848
IS.'^Ol
6.S.8;2
22.236
14,976
326,425
221,200
27.063
352,269
179,241
70.626
06.395
24.97X
115.619
316,813
b.5U2
32.832
8.385
4.641
13,819
20.529
610
217
63,543
97.SS2
81,384
»111.95I
tl22.808
$980.192
6,416
261
t954,7S7 $ 1 0..M53.803 $ 11 .009,123
Thk Following ark the Uross Receipts of Cotton
New York,
tram—
Savannah—To Bremen,
PHIl,ADILPH'A
Boston.
ThU Since
week. Sept.l.
ThiM
week.
BALTIMOBX.
since
TMi
Since
rhie
Since
Sept. 1.
week.
Sept.l,
ufeefc.
Sept.l.
Texas
Savannah
3.697
169,2u7
;,268
813,916
263,800
10,202
..
3,6)2
The
8.719
1,172
80,485
Mobile
822
riorlda
So. Carol'a.
Ho.Carol'a.
Virginia...
north n pts
^,7,^8
Venn., Ac.
ForeUn....
4af3
Thlsyeai
.
659
1,339
7
1,257
1,001
614
3,494
4.914
49,914
15,472
30,283
175,978
i,a«s
203
74,887
2,798
46,480
3,902
43.604
6,000
61,260
«
,
265
9)8,«ei
43,3-« I.0-*4.!ai
22.811
J
9,401
297,234
4.572
60,928
7.417
132.916
824.832
1.073
70,851
1],S76
192.313
The Exports OF Co rroNf rocn Ne w Yoi•k this Vreeks low an
increase compared with last week, the total reachint; 30,005
bales, against 11,107 bales last week.
Below we give our
usual table, showing the exports of cotton from New York,
and the nirfciioti, for each of the last four weeks; also the
total exports and dirt-ction since Sept. 1, 1889, and in the last
column ihu total for the same period of the previous vear.
BxrORTa Of corroN (bales) from new tork since sept l", 1889,
Week Ending
Same
—
Sxporled to—
139
47
620
43
2,000
950
373
98,535
particulars of these shipments, arranged in our usual
form, are as follows:
S'dam, Baree- Halilotui,
fax <t
Sremen Aniw.te
Liver- Hull
<£
Sam- Udder-
«£
burg,
valle.
874 5,799
2,262
Leith. Havre,
pool.
5,176
5,894
N. Orleans. 31,923
QenoUf
dc.
Tarmouth.
273
273
Oalveslon..
Savannah
3,527
1,418
1,783
1,488
.".".'."."
i^SlS
6,467
'.".'.
i",i67
2,651
1.913
186
620
372
Philadelp'a
Total.
20,005
52,409
2,452
4,733 13,301
43 2,950
..
6,733
6,467
2,806
1,107
2,651
2,099
3.613
372
5,607 21,431
5,176
6,630
5,558
186
98,535
Jan.
Jan.
Jan.
r,b.
16,
23.
30.
6.
Below we add the clearances this week of vessels carrying
from United States ports, bringing our data down to
ootton
the latest dates:
10.731
65,897
8.118
71,208
4, 161
80,9
1,418
1,788
6.467
1,488
1,318
1,107
2,651
1,913
...
66
44,493
S73
3,527
per ship Crusader, 3,527
Total
Total.... 50,947
N. Orleans.
238
2,216
To Uddervalle, per bark Gulnare, 1,418
To Oporto, per bark Rigi, 1,788
Brunswick—To Li verpooi, per steamer Lancaster, 6,467
Wilmington— To Hamburg, per bark Mizpah, 1,483
TeGeno*. p«r bark BJorniraa. 1,318
Norfolk— To Liverpool, per steamer Guy Mannerlng. 1,107...
West Point—To Liverpuol, per steamer Guy Mannering, 2,651
Boston- T.i Liverpool, per steamer Venetian, 1,913
To HhI fax, per steamer Halltax, 13S>
To Yarmouth, per steamer DoimoiDn. 47
Baltimore— fo Liverpool, per steamer Baltimore, 620
To HambU'g, per steamer Galiicia, 43
To Rotterdam, per steamers Deddington. »00...Khlo. 1,100
To Antwerp, per steamer Toledo, 950
Philadelphia— To Liverpool, per steamer Ohio, 372
Wllmingt'n
Norfolk ..
West Point
Boston
Baltimore
N>W rOBK.
11,950
1,351
7,650
Boston, Philadelphia and Baltimore for the past
1889.
City of Lincoln,
To Hamhurg, per steamer San Juan. 1,351
To Barcelona, per bark Maria Antonio, 236
To Saiern", p"r bark Carlo, 2,216
Galveston— To Hamburg, per Btearaer Glanystwyth, 273
Brans wick.
1,
31,923
4,733
....Torgorm,3,350....per8hip Edder=ide, 1,936
To Havre, pc'r steamer Boma, 4,733
To Bremen, per steamers Avlona, 4,300
at
week, and since September
tUcHpti
Liverpool, per steamers Caribbean, 2,357
....Catalan, 2,963 .. Emiliano, 4,700 . Explorer, 4,199
Soliiehalliori, 3,019
Texan,4,385
Federico, ."1,014
.
11.227
42.837
»1.T28.872
609
874
384
Waesland,
New Orleans—To
P8.>t29
287,7'-6
tl.717.615
5,894
4,567
2,001
New York.
Total value of other manufactures of
AgffreRate value of all cotton soods
ast year
mail
So far as the Southern ports are concerned, these
l.OOl
QucmtUiia 0} Manufacture of
U
Total
since
Sept. 1.
period
previous
year.
Galveston—To Liverpool -Jan. 31- Steamer Fairfield. 5,003.
Nbw Orleans—To Liverpool- Feb. 1 -Steamer Guide, .=1,916 ...Feb. 3—
Steamers Carolina, 4,134; Cuban, 1,990; Falentino, 5,700....
Feb, 4— Steamer Nlceto. 5,700.
To Bremen-Peb 3-Steamer Erl King, 3,973. ...Feb. 4— Steamer
European, 5,833.
To Hamburg- Feb, 1— Steamers Topaze, 2,954; Whitby, 1,878.
To Malago— Feb, 4— Ship C<ravan,
To Genoa- Jan. 31— Steamer Kate, 4,271.
Savannah— To Barcelona— Jan 31— Brls Alfredo. 1,050.
Oharleston—To Bremen -F.b. l-SCeamer Thorn Holme. 4,607.
Wilmington- To Ghent- Jnn, 31 Sreamer Merjullo, 4,050.
Feb. 3—
NORFOLK-To Liverpool— Feb, 1— Barte Blanche. 2,',J99
Sieamer ^o^folk. 5,308.
BOSTON—To Liverpool—Jan. 25 -Steamer Sovthia, 491 ...Jan. 29—
Steamer Istrian, 2,078 ..Jan. 31— Steamers Lake Winnipeg. 788j
Fob, 4—
Pavimia, l,75i
Feb, 1— Steamer Bavarian,
Sieamer Khusss,
To Yarmouih— Feb. 4— Steamer Dominion, 54.
Baltihobe To Liverpool Feb. 4— Steamer Rossmore,
'^'
To Bremen— Jan. 31— Steamer America. 1,519.
Jan, 31—Steamer
To Hamburg— Jan. 29—Steamer India,
MHitha,
MlUBeld,
....
To Bo terdam— Jan. 25— Steamer Albano,
F. b. 4 Steamer Urblno.
To Antwerp- Jan, 27— Steamer Kinrdom.
Philadelphia— To Liverpool—Jan. 30— Steamer Lord Gough, 888.
.
—
,
—
—
—
'
,
;
—
.
Llveriio'l
Other British poru..
TOT. TO GT.
BErr'if.
Havre
1.572
2,730
8,897
5,R94
5,176
261,262
48,081
301.875
100,456
7,302
8,697 11,070
309,333
402,331
28,423
37,706
813
785
874
Other French ports.
Total French
Bremen
Haiulmrg ...
Other porM
.
Tot to No. Eubopb
Below we give
1,272
813
100
B75
C62
1,689
1,637
785
.874
28,423
37,708
100
38
600 5,415
1,689
Am» Dora,
steamer (Br.)— The Merritt Wrecking Company's steamer
o, arrived at Nort Ik. F.-b. 3, from Watoliapilgiie, with a
caigo of otton fiom the wrecked and sunken British steamer
Amy Dora, to be rp-shippnd to New York. The ship has about
2,000 bales of ootton still In her, which has to be removed by
divers.
Benvick. steamer
725, 2,262
1,425
<
"142
&o ..
l,48l|
142
8,061
9,916 11.107 20.005
from Mobl'e for Liverpool, arrived at Norfolk,
18,324
601,280
damaged
from Galve'ton, was on fire at
were being taken to extinguish
k bunkrs. One hundred and fifty
b&les of cotton were daniaged by fire and wale,
Maha KA.T > H steam' r Br from B unswick via Newport News to Sebaitopel, put into Almeria prior Jan, 29.wiih machinery broken down.
Thalii, steamer (Br )— Sixteen hundnd and elithty bales of cotton have
b en landed from steamer Thalia, before reported wrecked near
Reval, while bound from Savannah for that port.
Live-pool, Feb.
(Br.), Welinuion.
Every means
3.
The flre was confined
,
12,599
(Br.),
Feb. 2, with her ma'hloery
GODOiPHis, steamer
It.
l,48ll
Grand Total....
news received to date of disasters to
from United States ports, &c.
Tuckah
Bp'n, Op'to, Glbr., Ac.
All other
Totai. Spain,
all
vessels carrying cotton
(
) .
in de<
i
FEBRDABT
8,
THE CHKONICLE
1890.]
qniet.
To-day the market was dull and weak
for the low! grades, but steady for the better descriptions,
Octton freights the past week have been as foUoira:
Hon.
Batur.
.»H.
>4
UTerpool, Bteam d.
Do
have continued
Wtdntt. Thurt.
Tuti.
Do
steam
e.
sail
e.
Bremen, steam.,
Do
38
•is'
e.
Indireot.e.
HamboTKf 8team.e.
Do Tla
lndlreot.c.
Amsfd'm, ateam.e.
Do Indirect.. <(•
Beyal, steam
<t.
»»64-"64 "a4-31al l»M-!»e4 l»«4-a'M
saU
d
Baroelona.steam d.
Genoa, steam .. .d.
I
»is
Trieste, steam.. .d.'8i4«3ij^6,gB2ig4 6i6'a2ij^
•
Per 100
70*
70*
70*
70*
70*
70'
Do
Antwerp, steam
d.l
6l8»21„
7^.
lbs.
—
LiTERFOOL. By cable from Liverpool we have the following
statement of the week's sales, stocks, &c., at that port.
J'an. 17.
Sales ol tbe
week
bales
Of whlcb exporters took
Of wbloh speculators took. .
ales American
Aotnal export
Forwarded
Total stock—Estimated
Of wblch American— Estlm'd
Total Import of the week. . .
Of which American
,
Amount
afloat
of which American
57,000
3,000
6,000
44,000
7,000
93,000
075,000
764,000
117,000
93,000
196.000
ISO.OOO
Jan. 24.
Jan. 31.
76,000
7,000
14,000
58,000
10,000
72,000
970,000
754,000
77,000
57,000
247,000
229,000
59,000
2,000
9,000
42,000
7,000
84,000
992.000
787,000
113,000
103,000
200.000
183.000
Feb. 7.
34,000
2,000
1,000
28,000
8,000
71,000
,006,000
799,000
93,000
75,000
188,000
163,000
The tone of the Liverpool market for spots and futures each
day of the week ending Feb. 7, and the daily closing prices
Saturday Uonday. Tuesday.
dull foreign markets, "long" selling for local and interior
account, and the report of tne failure of a grain firm in Buffalo.
To-day there was an early decline, due to snow in th«
Winter wheat belt, dull foreign markets, and long liquidation, but there was a rally later, owing to reports of cold
rains following the snow. There was no export business.
Prices closed slightly under those of a week ago on moat
options.
DAiLT oixmuco fbiocs or ao. 2 RBD WUaTBK WUAT.
IKurs.
Fri.
Tuc*. Wed,
Hon.
Sal.
84<>8
859)
Fcbmary delivery
9iH
84«t
i5H
c.
84''s
85<)g
85^
86>8
86^
March delivery
c.
BO'S
SS'g
86i«
887g
e«>«
April dPllvery
SB"!
8BH
o. 86U
86i«
87>4
May delivery
86'«
87
86>s
o. 86»8
8S4|
86\
857g
86>«
86^
Juno delivery
o. 8658
84>«
84%
847j
85 >4
85
July delivery
o. 84»9
86%- 86%
867g
87
87%
December delivery
c. S6H
Indian Corn has been declining, mainly owing to large receipts here and at the West, and a liberal percentage of contract grade in the arrivals.
The speculation has been rather
moderate, the buying being mostly by shorts and the export
business here reaching only a fair aggregate, though the total
clearances from the Atlantic seaboard of late have been
pretty liberal. As to the proportion of contract com in the
receipts, it is a noteworthy fact that of the arrivals here on
Monday of 593 cars, the largest this season, no less than 453
cars graded No. 2 mixed and 87 steamer mixed. To-day there
was a fractional decline, with receipts at all points of
983,046 bushels, including 203,400 bushels here, and reports of
a cut in railroad freiglit rates in Nebraska. Options shows a
net decline for the week of
to J^c.
%
of spot cotton, have been as follows:
Bpoi.
though tradejwas generally quiet.
Wheat advanced a^ one time, owing to a better business
for export, mainly at Baltimore, a larger decrease ia the visi154,411 bushels—as well
ble supply than had been expected
as light deliveries on February contracts, smaller receipts at
the West, and covering by the shorts. Later there was •
reaction, on which the advance early in the week was lost,
owing to a falling off in the export and speculative demand,
—
late dellv'y.d.
B.Kvn>,
217
DAn.T OLOSina pbiom of ho. 2 KIXBD OOKM.
Wednet. T\urid'y.
Friday,
February delivery
Market,
et,
1:45 p.
I
Dull and
supported irregular.
BiirelT
Mld-Upl'dB.
Bales
Spec.
cSe
Firmer.
Freely
Moderate
demand.
Easier.
offered.
6li«
7,000
1,000
exp.
8,000
1,000
7,000
7,000
500
500
Basy at
Steady at
2.04 adranoe.
IrreK. at
partially
oUne.
Steady.
Barely
steady.
Firm.
10,000
1,000
8,000
1,000
Sasyat
14Mde-
l-M«2-64
2^1 de>
ollne.
advance.
Qolet.
Futuret.
Busy at
Market,
1:45 P. U.I 8-64e3-(M
decline.
i
Market,
4 P. M.
Barely
steady.
Barely
steady.
firm
at
1-04 adr.
The opening,
highest, lowest and closing prices of futures at
Liverpool for each day are given below. Prices aro on the
basis of Uplands, Low Middling clause, unless otherwise stated.
TKt prices are given in pence and e4M( thus . 5 63 mean*
• S3-64<t.. and 6 01 means 6 l-64d.
^*
iron.
Tues.
Wed.
Thurt.
36%
37%
38%
3tt>4
36%
37%
36%
39
39
39
39
c.
o.
o.
o.
c.
o.
Sal.
Mon.
Tues.
February delivery
o.
March delivery
MaydeUvery
c.
28%
28%
28%
28%
28%
28%
o.
28
37%
HH»H
39>6
391s
37%
38%
Fri.
36
36%
37%
38%
38%
39%
36^8
377«
38V|
38%
39
38%
39
39%
39%
39%
39%
39%
Oats have declined in sympathy wi^h the depression in
corn. While the receipts have been rather liberal the export
demand has fallen off, and the home trade is less active than
recently. There has been a fair trade in options. To-day the
market was dull and slightly lower.
DAn.T oixMDio PBiom Oft no. 3 lanD oats
Fri.
28%
28%
28%
28%
28%
28%
27%
28
28
27%
27%
quotations for wheat flonr in
The following are closing
(Corresponding grades in saoks
barrels.
Thurt.
Wed.
sell slightly
below
these figures):
FIX>CB.
MOD., Feb. 3<
8at., Feb. 1.
Sal.
3678
March delivery
April delivery
May delivery
Juue delivery
July delivery
Taes., Feb. 4.
569
91 909$2 15 City shipping, extras. 4 35*
2 80 •
Superfine
2 203 2 50 By e flo or, supeidne
2 70»
Pine
Extra. No. 2
2 60a 2 95
Corn
meal—
3 10J» 3 70
Extra, No. 1
2 45S
475* 500 Western, &o
Patent, spring
2 65»
445» 4 75 Brandywlao
Patent, winter
Buckwheat Flour per 100 lbs., $1 25a$l 40.
6 81
5 63
Wheat—
9
Fine
bbi.
.
0p«n High Low. Olot
<L
d.
February... S5» 859
reb.-Marcb 6e« 6 59
Ucb.-Aprll. 960 960
AprU-May.. BSl 5 63
May-June.. 6 8 6 83
June-July.
July-Ang
Ansnst
.
d.
d.
6 69
5 59
699 6S9
9 80 680
661 6 63
9 43 683
600 600 600 600
001 6 01 6 01 ?01
6 01 8 01 6 01 601
AuK.-Sept.. 5 62
5 6d
9 63
9 62
Op«n BlgK law.
d.
d.
Olot.
Open
BUh
Low.
Clot,
d.
d.
d.
d.
i.
968 568 5 97
9 58 968 5 67
geo 680 998
6 63 6 83 560
600 8 00 5 63
6 01 8 01 563
601 6 03 800
6 02 6 02 600
6 63 563 6 63
9 97
9 57
6 69
6 61
559 960 559
6 69 560 5 69
963
600
8 01
8 03
6 03
8 03
6 01
6 01
5 63
5 61
9 62
6 81
663 6 DO 6 83
800
8 01
8 03
6 00
6 03
6 03
6 03
6 01
603
603
600
5 50
801
6 02
8 03
8 03
600
0.
Bprlnjc, perbuah...
Spring No. 2
Red winter No. 2 ..
Red winter
White
Com— West'n mixed.
West'n mixed No.2.
Western yello w .
Western white
.
Wedoes., Feb. 5.
Open H«gh Lov).
d.
February... SB?
Feb.-March 6 67
Mch.- April. 669
April-May.. S«l
May- June..
Jun»-July..
July-Auir ..
AUffUBt. ...
Aus.-Sept..
<7!o».
Open High Lau).
Fri., Feb. 7.
U.
ClOf.
Open High Low. dot.
d.
A.
d.
d.
d.
d.
d.
d.
d.
5 67
5 97
6 56
9 97
8 97
5 67
6 67
9 67
5 97
6 58
9 61
9 99
6 69
6 61
6 63
5
9
6
6
6
01
5»«
9 81
9 61
6 67
9 67
6 99
9 61
668
5 61
5 67
6 67
6 99
6 81
83
03
04
05
6 81
9 63
8 01
6 83
6 08
802
6 05
5S« 6t9
6 61
668 6 83 988 968
6 00 600 600 60O
601 8 01 6 01
601
8 01
Than., Feb^
6 01
668 983
6 01
6 64
556
580 658
5 83 960
663 800 983
600 801 600
8 01 803 6 01
6 01
6 01
663
663
6 03
5 03
6 01
663
663
600
6 01
6 01
6 63
601
6
8
6
8
03
03
03
01
d.
8 03
9 61
32
Buckwheat
0;l
«06
8 06
6 03
Beeeipte
at—
Flour.
BREADSTUFF S.
104,693
OtalssKO
UUwankee...
Dnlnth
99,£9i
Flour early in the week was dull and depressed, but latterly
in milling wheat at the West, and of the
speculative grade here and at Chicago, the market has been
firmer, "Western millers refusing to make further concessions
while it may be added I that winter wheat flour of all
grades has been more active, though spring wheat grades
owing to an advance
Oata-Mlxed
White
No. 2 mixed
No. 2 white
..
....
0.
65 •
54 «
28 •
80 •
28%i>
59
59
29
•
9
9
52
28%*
Barley—
2-rowed State
4-rowed State
50
53
Canada
68
.
,
..
St.I,oale..
PeorU....
Tot.wk. '90.
tern* wk.'89.
Jame wk.-sa
Since Aug. 1.
1889-90....
1888-89....
1887-88....
137.944
133,750
9.674
36,001
157.973
8.733
1,860
208,037
133.942
807.865
1.706.SS3
5.407.473
1.54a.4l)7
Com.
Barley.
BiuKSeibt
48,610
920.160
41.897
97.918
43.000
1,858
CleTsland.
1890.
Whtat.
BM«.i9eaM
Toledo
DMiolt..
7,
42
«L
We8teni..V bu.
State and Jersey
2 55
34%
29%
297ii
55
65
The movement of breadstuffs to market is indicated in the
statement below, prepared by us from the figures of the New
York Produce Exchange. We first give the receipts at Western lake and river ports, arranged so as to present the comparative movement for the week ending Feb. 1, 1890, and
since August 1, 1889, for each of the last three years:
SilDneapolU.
Fbidat. p. M., February
-a
Ky«—
2 75
604
6 03
6 01
808 6
6 06
d.
.
e.
« 94
® 89
85%» 86%
74 « 90
85 ® 89
29 • 37
357ga 37
37 » 38%
34 9 37
80
86
4 40
3 00
19,000
1,138,898'
8)9.084
Buslt.48
8.060
834.955
37.090
81,491
108,664
1.184.700
670 .838
840
»4,C79
77.431
33.800
848.415
9.686
1,323,186
406,400
870,000
3,848,907
3.463.931
1,707,063
1,067.163
i)*e
B» Bu. 66 Ae
310,847
88,850
63.789
17,300
88,986
80,186
76.300
49.8)0
14.S00
6,600
g«5.9l9
478.187
419.93S
T9JN>
968
84.8M
63.00S
1348,830
1.884.391
1.386.739
87,718,833
86.614.380
69.803.997
48,968.310
48.643,331
17,953,883
4a.95 1.017
43,801.169
19JI18,631
4.109.881
8.B«6,«S4
17.891, 957
1.S81.891
67.186.382
Tt.418.796
THE CHRUMOLR
218
.
late exports
endinK Feb.
Ufportt
yrom—
ewTork
1,
from the several seaboard ports for the week
1890, are shown in the annexed statement
Whtat.
Com.
Bvh.
Buth.
448.306
65,784
116,2P6
19,490
Boston...
OaU.
Flour.
Bblt.
73.112
36.918
3,343
PorUand.
Syi.
Bush.
Buih.
156,310
20,896
Pta*.
Oreat Britain....
Other European.
China
23',829 1,030.950
86,489
485,506
668
India
1C5,473
159,585 2,284,425
177,206
3,087
142,215
131,510 2,711,434
1889...
79,366
West Indies
Uexloo
Central America.
32,325
South America. .
Other countries .
The visible supply of grain, comprising the stocks in granary
Kt the principal points of accumulation at lake and seaboard
ports, and in transit by water, Feb. 1, 1890:
Barley
OalM,
Com,
Wheal,
Albany
BoflUo
,
afloat.
..
afloat
Dulnth
4,442.198
73,000
922,615
576,499
75,000
1,923,490
afloat
loledo
Detroit
OBwego"
Louis
Do
afloat....
Oinolnnatl .......
Boston.
Toronto
Montreal
PUladelphla
Feorla.
Indianapolis
.
33,000
116,554
155,302
216.047
865,213
10.460
135,172
buih.
bvMh.
2,816,4131,465,952
19,400
37,900
46,200
62,500
3,138
143,667
2,408.237
5,075,875 2,480,903 1,508,713
151,656
70,821
299.605
958
3,470
939,113
4,456,336
405,000
Chicago
Milwaukee.
bvth.
bu$h.
In ttort at—
WewYork
Do afloat.
Bt.
Week. Since Jan.
bush.
156,431
140,900
42,300
29,498
591,352
94.750
118,470
51.144
144,249
50.000
55,500
146.725
256,289
293,589
275,156
533;85i
2ii',»15
29,480
185,158
19,084
4,238
324,368
34,961
2,824
34,666
440,000
82.831
3,000
89,138
9,000
76,678
6.151
32,695
35,805
171,909
86,986
'69,759
'li',838
50.221
60,000
1,446,496
30,000
10,000
598,156
5,(>44
24,120
1,268,503
547,651
55,000
140.033
103,157
120,808
222,176
'82,006
*
Total
China, via Vancouver.
Total.
On Mississippi
800,002 1,186,086
7,745,486
222,280
315,000
319,802
91,152
78,860
1,025
22
00
200
2,682
1,2-6
1,655
4,054
805
393
"ioo
250
1,095
290
275
375
56
110
367
126
1,928
1»8
552
2,765
299
1,933
411
487
4,836
349
2,273
11,517
1,200
4,411
1%189
2,273
12,717
4.411
24,814
9.625
From New £n£land «iill points direct
The demand for staple cotton goods by package buyers was
steady but moderate, and stocks of plain and colored cottons
are in such good shape as a rule that prices are firmly maintained by the mill agents. Brown sheetings were iri fair request, and coarse yarn makes are a fraction dearer in excepBrown drills are in very light supply and firm.
tional cases.
Bleached goods were in moderate request and steady. Wide
sheetings were more active, and prominent makes, as New
York Mills and Utica have been advanced about 23^ per cent.
Colored cottons ruled quiet and there was a fair movement in
printed and woven cotton dress fabrics, white goods, &c., as
the result of new business and on account of back orders.
Print cloths were more active, but a trifle easier, closing at
3^c. for 64x643 and 3 8- 16c. for 56x60s.
The value of the New York exports since January 1 have
been |644,381 in 1890, against f8-59,lll in 1889.
850
S6,i42
1.
1,385
*
1890.
1889.
1888.
Stock 0/ Print Ototht—
Feb. 1.
Ftb. 2.
Feb. 4.
Held by Providence manuTers
Fall Kiver manufacturers
303,000
17,000
None.
3,000
None.
None.
None.
None.
5,000
5,000
None.
4,000
323,000
None.
14,000
KansasCltjt
Baltimore
Minneapolis.
Bt. Paul.
544
85
375
657
45
91
638
31
,
Week. Since Jan.
1.
105
7
64
Arabia
^metlme
Do
4.
AMca
fltotweek.
Do
TO Feb.
14',643
H.News..
Blehm'd.
1889.
1890.
Hbw Yoas
258",929
Fhllartfil
Do
packages, valued at $133,073, their destination ioeing to the
points specified in the table below:
4.261
Montreal.
Baltlm*re
S. Orl'M.
Domestic Cotton Goods.— The exports of cotton goods
from this port for the week ending February 4 were 2,273
Biuh
42.H66
32,439
[Vol. Lr
Providence speculators
Ontside speculators (est)
31,120
Tot. Feb. 1,'SO. 31,480,193 11,918,417 5,156,474 1,513,403 1,895,211
Tot. Jan. 25, '90. 31,943.604 11,666,722 4,867.939 1,420,113 1,948.819
Total stock (pieces)
—
FoBEiQN Dry Goods. The demand for imported goods at
first hands continued very moderate, and the jobbing trade
was of limited proportions, retailers having shown very little
disposition to anticipate future requirements to any material
•Oswego— Last week's stocks; tnls week not received,
extent. Dress goods, as mohairs, cashmeres, &c., were in fair
t Btooks relused.
request, but piece silks ruled quiet, and there was only a
moderate bueinees in men's-wear woolens, linen goods,
hosiery and embroideries.
Importations of Dry Goods.
New Tokk, Friday P. M., February 7, 1890.
The importations of dry goods at this port for the week
Business in commission and importing circles was hardly
ending Feb. 6, 1890, and since Jan. 1, and the same facts
«p to expectations the past week, and there was only a mod- for the corresponding periods of last year are as follows
erate improvement in the jobbing trade.
There was a conTot Feb.
Tot Feb.
Tot Feb.
2,'89. 34.874,338 13,323.294 8.064.846 1,698,091 2,384,180
4,'88. 41,086.646 7,817,070 5,402,768
363,468 2.929,159
6,'87. 61,770,031 16,460,538 4,885,202
436,383 2,197,484
THE DRY GOODS TRADE.
:
tinuous influx of wholesale bujers in the market, but their
purchases were individually light, and therefore collectively
moderate.
Manufacturers' agents and importers continued
to make liberal shipments of spring goods on account of
former transactions, but new business in this connection was
restricted in volume, and the demand for seasonable fabrics
was checked by the mildness of the weather which prevailed.
Retailers from remote parts of the country have appeared in
the city, but their presence has not as yet imparted much animation to the jobbing trade, and the week's business was
probably below the average of last year at a like period. The
tone of the general market continues steady, and some makes
of staple cotton goods have slightly appreciated as will be
E
Bilk
Flax
Flax...
Ck)tton
er
0;
1
:
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mand, but there was a
fair
movement
in
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some
descriptions in
execution of back orders. 8tockin(-ts continued in good demand by the manufacturing trade, but cloakings ruled quitt.
Batinets were moderately active in movement and Kentucky
jeans lacked animation. Soft wool and worsted dress goods
were fairly active and stocks are so well in hand that leading
makes are firmly held. For flannels and blankets the demand
was almost wholly of a hand-to-mouth character but prices
remain firm.
Mlscellan
Manufact
i
K)
1^
than low-grade chinchillas) ruled quiet, but a fair business
was done in popular makes of kerseys, beavers and meltons.
Prices of heavy clothing woolens are steadily maintained, because most of the mills are running closely on actual orders,
and stocks are therefore not likely to accumulate to a burdensome extent. Light-weight clothing woolens were quiet in de-
Wool..
si
H
below.
Domestic Woolen Goods.—There was a moderate demand
for men's-wear woolens by the clothing trade, but the volume
of business was by no means satisfactory to the majority of
the mill agents.
Heavy fancy cassimeres and suitings were
In irregular demand, with most relative activity in the lower
qualiti es, for which some fair orders were placed by wholesale clothier8.~These remarks apply fully to heavy worsted
coatings and trouserings.
Rough-faced overcoatings (other
Flax...
Cotton
ManufactUT
,
een
SUk...
Mlscellan
Wool
Mlscellaneo
too
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