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FINANCIAL
( A N N U

A JL,

.

)

COMMERCE. BUNKING. INVESTMENTS.

WILLIAM

OFFICE

OF

THE

B.

DANA &

COMMERCIAL

7 9

&

81




AND

FINANCIAL

CHRONICLE,

WILLIAM STREET,

USTJdJ W

(Entered according to Act of Congress, in the

CO., PUBLISHERS,

YORK.

year 1878, by William B. Dana &
in the office of the Librarian of

Co., Publishers of the “ Commercial and Financial Chronicle ”

Congress, Washington, D. C.]

CONTENTS.
Retrospect of

1877
4

Mercantile Failures

4

Banking and Financial—Banking and Currency Statistics
New York

5

City Bank Movements
lO

Commercial and Financial Affairs in London

n

Trade and Commerce—Commerce of the
United States

Comparative Prices
Value of

on

'

14

Trade, 1856-77

15

the Canals and Trunk Railroads, 1862-77

United States

Influences and

Prices of Call Loans and Commercial

15

for Four Years

Imports and Exports in Detail

Money Market—Market

15

for Four Years.

for 1875-6 and

*

15

1876-7

16

Supply, 1866-1877

20

Paper since 1870

21

Silver—Production, Exports and Imports of Gold

and Silver in the United States

22

The Silver Question

Prices, Movement, &c., of Silver

23
in

London, 1833-77

;..

Prices of Gold in New York, 1862-77

Foreign Exchange—Methods
Prices in New

Investments and

of

-'

31

York, 1870-77

r

31

Speculation—Principles Relating

Money in

"Table

Showing the Rate Per

Stock

Table

Showing the Interest Cost

c

35
36

a

Series of Years

37

Speculation in New York....

Cent realized

of

on

Securities Purchased at Different Prices

38
40

Carrying Stocks..

41

United States Debt and Securities—Debt
of the United States, Terms of

Payment, &c

42

Prices of United States
Bonds, -1860-77

£tate i ecurities—State Debts and
Prices of State

Railroads

24
25

Quoting

to Investments
Investments of Financial Corporations in New York
City
Compound Interest Table, Showing the Accumulation of

U.J

14

<■

Exports of Leading Articles of Domestic Produce

Bold an<l

14

Merchandise, 1860, 1866, 1874-78

Imports of Leading Articles of Merchandise

The

*.

Exports and Imports, 1860-77

The Balance of

Tonnage

of

43

Immunity from Prosecution

47

Securities, 1860-77

47

aud Their securities—Railroads of the United
States

53

Railroads of the World
54
Loans Issued in

Europe in 1877

f
„

Railroad

Earnings

-

Security for Bond

and Shareholders by

Prices of Railroad

Bonds, 1872-77

Prices of Railroad and Miscellaneous

The Investors’
Supplement




English Railroad Laws...

54
54

56

58

Stocks, 1860-77

67

xIppendix.

THE

FINANCIAL

REVIEW.

JANUARY,
RETROSPECT OF 1877.

The

between Russia and

net

profits of mercantile and banking business in
sections of
prosperity
were the
agricultural districts of the Northwest and the
mining interests of the Pacific Coast. The principal
events of the year having a direct
bearing upon business
transactions were the settlement of the presidential diffi¬
culty in March, the outbreak of the European war, which
occurred in April, the negotiation of’the U. S. four per
cent loan, the disastrous railroad strikes in
July, the
abundant harvests secured in August and September,
and finally the agitation of the silver question after the
meeting of Congress in October.
Under the influence of these controlling circumstances,
the year 1877 were notoriously meagre; the
the country enjoying the largest measure of

and loaded still with

an

incubus of bad debts and

a

developing rottenness in firms and corporations, brought
over as
a
heritage from previous years, it is hardly
surprising that the business of the country was not able
to show a more substantial
recuperation, or to make a
more
decided advance toward the firm ground of a
sound, healthy and legitimate prosperity. Capital was
still hampered by that uncertainty as to the future
which always operates as a check on business
enterprise,
and prevents the would-be investor from placing
his
money on any sort of time engagement, where unfavor¬
able legislation as to the currency, or other extraordinary
events quite beyond his control,
may intervene to pro¬
duce for him an ultimate loss. Thus in 1877, the presi¬
dential dead-lock, the European war, the railroad strikes,
and finally the silver discussion, were all events particu¬
larly calculated, during their existence, to create suspense
and timidity as to the future.
Pursuing the history of the year from its commence¬
ment, we find that the money market relaxed immedi¬
ately after the first week in January, and continued
decidedly easy until August. But notwithstanding. the
low rates for money, business of all sorts was so
greatly
depressed by the presidential difficulty that even the
agreement made on the 29th of January to submit the
question to an electoral commission brought no substan¬
tial

relief, and it was not till the final decision was made
early in March, followed by the inauguration of Mr.
Hayes as president, that the country again breathed freely.
The severe check thus put upon business transactions
during the first quarter of the year contributed to bring
about the failure of many parties who had carried over
a heavy load from 1876, and had looked forward to an
improvement in trade after the 1st of January to enable
them to get relief from their burdens.
iMo decided
stimulus

wras

furnished until the outbreak of

1878.

and

was

Turkey, which occurred in April,

made the basis for

considerable

speculative
provisions. At the Stock
Exchange, the lowest prices of the year on nearly all
the prominent speculative -stocks, (except the coal road
stocks,) were made in April, just before the war news
was received, and after that
they took a sharp upward
turn—although as to the prices of both railroad stocks
and produce the effect of the war was too
largely “ dis¬
counted ” at first, and a part of the advance was after¬
movement

a

in breadstuffs and

wards lost.
The extreme

depression in stocks, just referred to, was
partly due to the operations of one of the heaviest
“bear” combinations ever known in our market,
and al¬
though there was a partial recovery from the bottom
prices of April, the tide did not fairly turn until July
and August, when a remarkable advance in stocks was
established by speculative manipulation and under
heavy purchases for account of the same parties who
had recently been
exerting every effort to push prices to
the lowest possible limit.
The negotiation by Secretary Sherman,
through a new
of bankers, of $75,496,550 of United States
syndicate
four per cent bonds was one of the
greatest events, not
only of the year, but in the whole financial history of
the country—particularly, as
nearly the whole amount
was subscribed
by our own people, with whom four per
cent was a rate of interest
previously unheard of
The railroad strikes commenced in
July with the
strike

on

month.

the Baltimore & Ohio line on the 17th of that
The strikes becoming general, not
only on the

principal railroads, but also in many of the manufactur¬
ing establishments of Western cities, which were impor¬
tant

railroad centres,

the demonstrations swelled to the
proportions of a labor war, and it was only after the
vigorous employment of military force that the riotous
proceedings were suppressed. It is hardly necessary to
say that these extended riots, participated in by intelli¬
gent railroad employes, mechanics, and skilled laborers,
with no greater instigation than the
proposed reduction
of a moderate percentage in
wages, had a most injurious
effect both at home and abroad. It was not the
great
destruction of property alone, and the serious

interrup¬

tion to

business, which exerted the worst influence, but
the fact itself that so
many of the best class of Ameri¬
can
working men would give themselves over to such a
nefarious business.
It was another development calcu¬
lated to destroy confidence
among capitalists, and to
make them cautious about
investing money where vio¬
lence and disorder can obtain control, even for a season.
hostilities
With the suppression of the strikes in the
early part
j*;
.Vjjtf

>4

•

*

[Entered according to Act of Congress, in the year 18?8, by William B. Dana & Co.,’ Publishers of the “ Commercial and Financial
Chronicle,” in the office
of the Librarian of Congress, at Washington, D.
C.]




o

of

RETROSPECT.

August, and the

favorable reports of the grain har¬
coming in at the same time, there was a decided
in financial affairs.
The strong bull combination in

vest

turn

the stock market

this
an

pushed its campaign vigorously just at
time, railroad earnings in the West began to show
improvement, and the prices of leading speculative

stocks

advanced very rapidly, the general
aspect of
affairs in Wall street
being more cheerful than it had
were

been for many months before.
With the meeting of the

THE MONEY MARKET.

The

course

of the money

market in the early months of 1877
duplicate of the same period in 187G. Iu the first
week of January call loans
ranged, as usual, at high rates, and 7
per cent gold or 1-32 per day commission was frequently paid
by
was

almost

a

stock brokers.

The rates

immediately relaxed, however, and on
February call loans were quoted at 8@4 per cent, and
prime commercial paper at 4£@5-£ per cent. From this time the
market continued very easy, with the
exception of a few days
when there was a little
flurry over stock collaterals, until the
minimum rates of l@li per cent on call loans and
3^- per cent on
prime paper were reached during the summer. By the middle
of August rates
began to harden in consequence of the demand
from the West to move the
large grain crop, and by the middle
of September call loans were
quoted up to 5 per cent, while in
the previous year, 1876,
they hardly went above 24 per cent till
after the 1st of October.
During the last quarter of the year
money generally ruled at fair rates, without any excessive
stringency until the usual shifting of loans in the latter part of
the 1st of

special session of Congress in
uncertainty appeared on the finan¬
cial horizon in the
shape of various bills introduced to un¬
settle matters that had been for a
long time established.
Chief among these were the bills to
repeal the specie
resumption law of 1875, or at least that part of it fix¬
ing the period for resumption on Jan. 1, 1879, and still
more important
the silver bill introduced by Mr. Bland, December caused a
temporary advance to Wall street borrowers,
and passed by a large
majority in the House of Repre¬ and rates were quoted as high as 7 per cent and 1-32 per day
sentatives, making silver a legal tender for public and commission. Except for the larger mercantile demand for money
private debts to an unlimited extent. The effect of the at the West and South to move their crops, which caused the
silver bill, advocated so
activity above
strongly by members of Con¬ market would noted in August and September, the course of the
have been almost the same as in the two
gress from the South and West, was exceedingly
injuri¬ years. There was little change iu regard to the matterprevious
of new
ous in financial
circles, and although the price of gold investments, and little inclination to
put capital into manufac¬
was not
materially advanced, the return of U. S. bonds turing, railroad, or other industrial enterprises.
from London was, at
The following table will show the rate for call loans and
times, considerable.
for
The range in prices of a few of the most
prime commercial paper in each week of the year :
important
articles of domestic produce, and those which constitute Week end’g
Call
Prime
Week end’g
Call
Pr'mb
Loans.
Friday—
Paper.
Loans.
Friday—
Paper.
a
Jan. 5
6 @7g.*
large proportion of the total value of our exports, is
5VM 0* July 6
1
© 2
3*© 4)4
12
4 © 7
5 © 6*
13
3 04© 405
1*© 2
19
4 © 5
given below, from which it appears that fluctuations
20
4^4© 6*
IX© 2
305© 4)4
26
4 ©
b 6*
4*.
1*© 2*
3X© 4>;
have not been
Feb. 2
3 © 4
extravagant except in pork and petroleum,
4%© 5!4 Ang. 3
2 © 6
405© 6
9
3 © 4
4 © 5
10
2 © 4
5 @ 6
and in these the prices have fallen off
16
•4 © 5
2*© 4
17
2 @ 3
largely. ' The fob
4*© 6*
20
4 © 5
2*© 4
24
2 © 5
4 © 7
lowing shows the prices ruling near the first of January, Mar. 2
4 © 5
205© 4
31
3 © 5
5
7
9
4 © 5
B4© 2
Sept. 7
2*4© 5
504© 7
April, July aud October, and in the latter part of
16
2 © 4
4
14
© 5
3 © 5
6 ©7
-23...... 2 © 7
i>i
3 © 6
3*@ 5
5*® 7
December, in 1877 :
30
2 © 3
4 © 5
28
3 © 7
6
October

new

clouds of

“

“

“

“

“

...

“

•

“

“

“

“

“

“

“

“

“

“

“

“

April 6
“

January.
Cotton—Mid. uplands..lb
West, mixed.. bush.

Corn

-

Wheat—No.2 spring.bush.

Pi"

iron—Am., No.T..ton.

Petroleum—Crude
Pork—Mess

gall.
obi.

$0 12 *
0 63*
1 44
21 0)
0 15#
18 25

April.
$0 11*
57
1 53
20 00
0 11
15 00
(!

July.

October.

$0 12J4
0 60
1 65
19 00
0 0634
14 30

$0 11*
0
1
20
0
14

$0 11*

59
35
00

0 66
1 36
20 00

03*
25

Dec’r.

0 08

13 1214

CITY BANK MOVEMENTS.

*

The

high rates of taxation on banks, and the unprofitable
character of business, arising from low rates of
money and
unavoidable losses

by mercantile failures and shrinkage of
values, conspired to diminish the profits of banking and caused
several of the larger institutions to reduce the
amount of their
capital stock. At the opening of the year the New York
City
Clearing House Association had fifty-nine banks, with $77,935,200
of capital, and at the close
fifty-seven banks, with $67,435,200
of capital, the Dry Goods and Tenth National
banks, with a
total capital of $1,500,000,
having retired from business. The
movement of circulation is somewhat
interesting, as the increase
during the year is $4,389,100, of which about $3,000,000 was in
the last four months,
although the Tenth National in .the same
time withdrew $448,000.
As showing the condition of the New
York City Clearing House banks at or about the
commencement
of each quarter, and at the close of the
year, the following sum¬
mary is furnished of their statements nearest to the dates named
in the past four years :
'
Loans and
Discounts.

Jan. 1 —
1877

Net

$253,328,600
264,062,500
284,400,800
261,135,400

Specie.
Circulation.
$33,049,700 $15,2(58,700
*0.233,300
18,791,000
17,974,000
24,622,(500
28.395.690
27,186,300

Deposits.
$212,461,100

$259,828,800

1876
1875
1874
•

$20,190,F0O

$219,738,900

April 11877
1876

261,351,200
279,554,600

$15,797,800

£04,578,100
221,469,200
205,399,500

Legal

Tenders.,

$34,975,100
39,924,900

49,603,600

46.458.100

$41,356,000

291,113,700

21,171,100
9,695,500
24,045,610

$251,655,600
251,883,360

$17,453,000
18,291,800

279 397,200

13.824.690

287,422,200

15,533,900
18,982.500

21,934,300

25,863,900

241.445.500

54,7?'8,4G0
73.832.100
63,6b0,500

$241,847,800
262.428,900
278,841,3-'0

$16,652,300
16.463.200

$15,724,450
14,617,200

$200,771,200

$41,975,500

6/" 8,900

281,•■'77,900

18.371.200
$22,122,400

1 i,025.8O9

1875
1874

16,364,000

26,604,600

211.561.100
214.876.100
237,431,400

$15,643,200

$226,483,203

nl. 438,500

July 1—
1877
1876
1875
1874

Oct. 1—
3877
1876
1875
1874

13
«
20
“
27
Mav
4
“
11
“
18
“
25
June 1
“
8
“
15
“
22
“
29

... ,

Jan. 1, 1878.




,

$239,173,9.0

216,(J05,2U0
245,896,760

25,419,600

22582.500
403,600
;236,925,900

$19,657,800

$197,711,860

234

41,718,500
49,836,800
50.983.100

$69,359,500

56,755,200
66,490,600
63.966.100

$35,300,500

2*© 6
2 © 7

2
2
2
2
2

©
©
©
©
@
1*©

..

..

4

4
3

3*

3
3
1*© 3
1 © 3
1 ©2*
1
© 2*
1
@2

Also 1-32 per diem.

4
4

.

@ 5
© 5
3*4© 5
305© 5
3i4© 5

3*© 4*
3>i© 4*
3

©.**

3*© 4*
314© 4*
30* © 404
3*© 4*
4

©

Oet.

5
12
“
19
“
26
Nov. 2
“
9
“
16
“
£3
“
3.)
Dec.
7
•*
14
“
21
“

“

28

© 7

4 © 7
6 © 8
5 © 7©7 g.
605® 8
5 © 7*
7 @8
6 © 7
7 -© 8
5 uo 7
6@6Vs© .7*
5 © 7
6
© 7
4 © 6
6 © 8
4 © 6
5 VM 6*
4 © 7
5 © 6 y3
5 © 7 g.
5 © 6
4 © 6
6 © 6*
5 @7*
5 © 6
5 © 7*
5 © 6 yz

GO LD.

In the table

given on another page will be found the highest
price of gold for each day of the year. Gold opened
in January at 107£ and
gradually fell off, notwithstanding the
great political excitement over the presidential question, until it'
reached 105J at the close of the month. From that
point the
price fluctuated within the limits of 107$ and 104£ until the end
of May, as it was governed
by market influences here or by
political news at home or abroad. Opening in June at 106J, the
price fell off to 104£ on the 12th, after Secretary Sherman had
completed his negotiation with the Syndicate for the four per
cent loan.
In July, gold was affected
by the labor riots, but in
August it began the steady decline which carried the price down
to 102£, as the lowest
point reached in each of the last three
months of the year; although the stock of gold in the U. S.
Treasury, over and above coin certificates, had risen to $106,093,505 at the close of 1877, against $49,237,418 in 1876.
This decline
was owing mainly
to the small demand for gold, in consequence
of the large surplus of domestic
products for export and the low
prices of foreign exchange.
and lowest

FOREIGN EXCHANGE.

During the first quarter- of the year exchange was pretty
steady at moderate prices, 4.83£ on 60 days’ sterling bills being
the lowest price made by leading bankers in their
asking rates.
From April rates advanced,
reaching 4.88 as the lowest figure in
June, but falling off again to 4.85£ in July. From this time the
large crop influence began 1o be felt, and exchange declined,
reaching 4.82^- in August aud September, 4.81 in October, and
4.80|- in November, as the lowest prices made in the nominal or
asking rates for bankers’ GO days’ sterling bills. After November
rates were pretty steady,
mainly on the demand for bills coming,
as in previous months, from the
importers of U. S. bonds, and

RETROSPECT.

3

after

opening in December at 4.81-£- for bankers’ GO days’ sterling New York stock market as a
period of unequaled depression in
falling off to 4.81, tlie closing price was 4.82U
prices. There was no panic and no violent or extraordinary
UNITED STATES BONDS.
events to
suddenly break down the market, but values shrunk
There was much activity in U. S. Government securities in the away
steadily under the unfavorable circumstances affecting
first eight months of the year, in
consequence of the transactions stocks, and with the most persistent and vigorous hammering by
of the syndicate of bankers
through whom the Secretary of the a strong combination of bear operators. Railroad and telegraph
and

Treasury negotiated the 4| and 4

bonds, with the pro¬
redeemed., During the first
six months the old bonds were called in
rapidly and the last of
the issue of old five-twenties of 1865
(May and November)
Were embraced in the 46th
call, dated May 5. Toward the close
of that month the
Secretary availed himself of an option con¬
tained in the syndicate agreement of
August 24, 1876, for the ne¬
gotiation of $300,000,000 4| per cents, and gave them notice that
he would limit the sale of 4£
per centB to $200,000,000, of which
$15,000,000 were sold under the resumption act, and against the
balance of $185,000,000 five-twenties were called.
On the 9th of
ceeds of which five-twenties

per cent

were

stocks, as well as those of the coal carriers, all came in for their
share of misfortunes.
Commodore Vanderbilt died in January,
and in March the Trunk line

agreement of December 16, 1876,
seaboard,” for which, he had contended so vigor¬
ously, was abandoned, and the unsettled condition of affairs
among the trunk lines, after the ruinous strife between them for
the previous twelve months, was
exceedingly discouraging. Only
second to the trunk line
difficulty, and still more remediless, was
the trouble among the coal
carrying and mining companies,
arising from the low price of coal.
The Central Railroad of
New Jersey went into the hands of a receiver in
February, after
Jane a contract was made with a new
syndicate, composed of a its borrowing capacity bad ended, and the other prominent compart of the members of the old, for the negotiation of the 4 panies, saddled with burdensome leases, resorted to new
mortgage
per cent bonds, at par in gold, the contract terminating June 30, loans to meet their current obligations—the
prospect was in every
187$, but with an option on the part of the Government to ter¬ way dismal. Simultaneously tlie telegraph war was
pushed to the
minate it at any time after December
31, 1877, on ten days’ utmost by the Atlantic & Pacific Company, which was controlled
notice.
The loan was thrown open for public
subscriptions from by parties in the bear interest. Railroad earnings generally
June 16 to July 16, and the total amount. subscribed was
$75,- showed a large decrease compared with 1876. Taking advan¬
496,550, all of which was paid within ninety days, the amount tage of the situation, the bears pushed stocks to the lowest
of $50,000,000 being applied to the
redemption of five-twenties, figures which they thought the market would endure, and,
and the balance held for resumption
the
purposes.
The price of from
prices given in the table below, it may
bonds fell off soon after the books were closed,
be seen at a glance how disastrous was the
mainly on account
campaign
of sales by parties who had taken them on
speculation, and sub¬ to all parties except those few speculators who had sold
sequently, when CoDgress met, a quietus was put upon the stocks short.- In June the trunk line companies made a new
further negotiation of 4 per cent bonds by the
proposed measures agreement for freight rates based on mileage; the two leading
to repeal the time fixed for
specie resumption and to make silver coal carrying companies had negotiated loans which placed them
an unlimited legal tender.
beyond the danger of present embarrassment; the reports of a
The range in prices for the year
1877, and the amount of each very abundant harvest began to come in after the middle of July;
class of bonds outstanding Jan. 1,1878, were as follows :
the telegraph consolidation was under
negotiation, and finally
.Range for 1877.
completed in August ; and there was now formed (in July) a
--Amount Jan. 1.—.
Lowest.
|
Highest.
Registered. Coupon.
6 V1881
very strong speculative combination to put up stocks.’ The same
reg. 1063* Dec. 27; 114% Jan.
$194,024,500 ^
6s, 1881
coup. 109 V* Oct.
115% May
88,711,85C parties who had recently been bears were most heavily interested
6s, 5-20s, 1865, new..coup. 104% Oct.
111% May
47,046,950 .69,856,400
in this movement, and with them
6s, 5-20s, 186?...... coup. 106% Oct.
114% May
98,587,400 212,029,800
nearly the whole market,
6«, 5-208, 1868
coup. 109% Oct.
117% Jan.
15,759,500
21,714,800 which had already been suffering long and
6s, 10-408
reg. 106% Oct.
impatiently under the
114% Jan.
142,552,750
6i, 10-40s.
coup. 1G7% Oct.
114% Feb.
52,013,550 recent depression.
The upward movement was delayed tem¬
6a, funded, 1881.... coup. 105% Dec.
112% Jap.
221,238,300 287,202,050
1891
porarily by the serious labor strikes, but as soon as these ended
reg. 103% Dec.
109% July
118,474,200
4%s, 1891
109
coup. 103% Dec.
May
81,525,800 in the early part of August, the advance
48, 1907
began in earnest. Under
Oct.
106
..reg. 101
July
81,044,400; 13,855,600
6a, Currency
Dec.
126
this purely speculative movement, based, it is
reg. 120
July
64,623,5121
true, on elements
The range of U. S. bonds in London
of real improvement in the
situation, stocks were carried up
during 1877 was as fol¬
lows :
largely in August and September, and some of the leading opera¬
tors loaded up with
large blocks which they still held, in whole
Kauge for year 1877.
Lowest.
or in part, at the end of the
Highest.
year.
Railroad earnings began to
U. S. 6s, 5-208, 1867
increase in August, and during the autumn months the
105
Dec. 27 110% Feb, 6
princip^
U. S. 5s. 10-408
107
Oct. 10 110% Feb. 6
5s of 1881
grain carrying roads showed a large improvement over their ean
105% Dec. 27 109
July 11
New 4% per cents.
102% May 16 106% Aug. 7 ings. for the same time in 1876.
The trunk railroads maintained
fair rates of freight throughout the
STATE AND CITY BONDS.
Fall, and from tlie closing of
navigation, early in December, anticipated a profitable business.
The year 1877 developed little that was new in
regard to State
Upon the whole, the year was one of the most eventful ever
or city securities.
The State of New York paid off the whole of known in the stock market, and the extreme
depression of the
its Bounty debt, maturing April 1, 1877, and had at the close of first half of the year with the
extraordinary rise which took
the year only about $10,075,009 of debt
afterward, both carried
outstanding. Among tlie place calculated more than ever on by speculative manipulation,
were
to show up the
Southern States, considerable progress was made in
great uncertainty
adjusting of stock operations, and the enormous
advantage which a clique
debts on the plans adopted by the several
legislatures ; and of speculators possesses over the outside purchaser.
The range in prices
Alabama, Georgia and Louisiana have now settled the greater
during 1877 and 1876 of the most active
stocks sold at the N. Y. Stock
part of their acknowledged obligations. The most unfortunate
Exchange is shown iu tbe table
below, as well as the date when the highest and lowest point
events were the vote in the State of
Minnesota, rejecting by a was reached in the year first named:
large majority the proposal to meet the old repudiated bonds, and
Range
the refusal of the Tennessee Legislature
for 1b76.
Range for year 1877.
just at the close of the
Lowest.
Low. High
Highest
year to settle with bondholders even at 50 per cent of the face of Atlantic & Pacific Telegraph
15% Feb. 3 25 Mch.
14% 22
Central of New Jersey
6
June 11 37% Jan.
their holdings.
20% 109%
The dishonorable spirit shown in these States— Chicago
& Quincy
Burl.
94
Mch. 19 118% Jan.
112% 121%
both of them abundantly able to shoulder the amount of
11
debt Chicago Mil. & St. Paul.
Apr. 12 42% Oct.
18% 46%
do
do
40% Apr. 23 73% Dec.
49% 84%
proposed under the compromise—had a bad effect in showing up Chicago & Northwesternpref..
15
Apr. 13 43% Oct.
31%1 45%
do
do
the state of feeling in those sections of the West and South
pref..
37% Apr. 23 69% Oct.
55% 67%
on
Chicago Rock Island & Pacific."
82% Apr. 23 105% Oct.
98% 111%
the question of State and
Delaware & Hudson Canal....
municipal integrity.
25% June 13 74% Jan.
61% 125
Delaware Lack. & Western
11 77
Jan.
30% June
In municipal
64% 120%
bonds—including, under this head, city, county Erie
15
Oct.
4% Apr.
7% 23%
Hannibal & St. Joseph
and town obligations—the most
7
Apr.
15% July
10% 22%
conspicuous defaults occurred in
do
do
17
Anr.
pref....
33% July
18% 33%
the town bonds of Missouri and Illinois.
Harlem
An important decision
135
Feb.
147
Nov.
130% 145
Illinois Central
79
Oct.
40% Apr.
rendered by the U. S. Supreme Court in October settled the
60% 103%
point Lake Shore
45
Apr.
73% Oct.
48% 68%
that when bonds are authorized to be issued
Michigan Central
35% Apr.
74% Oct.
34% 65%
only on a majority Morris & E-sex
51X June 13 92% Jan.
84
106
vote of the qualified voters in a certain
N. Y. Central & Hudson River.
district, this provision is
96
85% Apr. 23 109% Oct.
117%
Ohio & Mississippi
5
2% July 7 11% Oct.
24%
complied with by a majority vote of the persons noting at the Pacific Mail
12% Apr. 3 26% Aug.
16% 39%
Panama
election.
This decision, rendered by the court of
80
122
Apr. 3 130 Mch.
140
highest Wabash Receipts
% June 80 20% Oct.
authority, made valid a number of municipal bonds that had Union Pacific
59% Jan. 15 73 Mch.
57% 74%
Western Union Telegraph.
56
Apr. 4 84% Sept.
63% 80%
previously been repudiated.
Adams Express
91
t< 5
Jan.
100
“one rate to the

.

,

t

..

....

■

RAILROAD AND MISCELLANEOUS SECURITIES.

The first half of the year 1877 may long be remembered in the




American Express United States Express

Wells, Fargo & Co

Apr. 23
43% July 3 60% Feb. 5 55
36
Apr. 27 59% Jan. 81 49%
81
July 25 90 June 5i 79

114
6?

76%
91

—r»

4

MERCANTILE FAILURES.

|

MERCANTILE FAILURES.

thus:—1873, 5,183 failures in number and $228,499,000
of commercial disasters for the year 1877, n amount, in the United States, and 994 and $12,334,192
as
compiled by Messrs. Dun, Barlow & Co., is more for Canada; 1872, 4,069 and $121,036,000 for the United
than usually interesting, not only from the fact that the States, and 726 and $6,454,525 for Canada:
condition of business is more
FAILURES FOR 1877, 1876 1875
1874.
anxiously watched than
it was while everything seemed
prosperous, but also
1877.
1876.
1874.
1875.
States and
because the last three months produced a noticeably
Territories.
No. Amount. No.
Amouut. No. Amount. No.
Amount.
large number of failures. For the four quarters of the
East'n States.
149 $2,037,40(
138 $1,916,450
13C $1,537.50C
year 1877, the totals were : $54,538,074 ; $45,068,097 ; Maine
84 $1,063,000
70
N. Hampshire
48
73
7(32,722
3$
559,255
1,076,4<X
26b,000
9b
7£
63
$42,346,0S5 ; $48,717,680. The last quarter thus turned Vermont....
738,201
3t
1,410,930
772,7CC
380,000
480
Massach’setts
46$ 12,994,829
6,659,05*=
27,494,943 416 10,600,000
sharply away from the decline shown in the preceding Boston City. 130 6,4b9.30C 258 10,510,010
114
Rhode Island
138
71
8,599,60r
6,079,05b 10C
6,$81,695
1,250.000
quarters, and gives a very heavy increase, also, as com¬ Connecticut.. 314 5,821,641 19' 4,186,548 191 2,851,926 151 2,286,000
pared with the fourth quarter of 1876, when the total Tot. E. States 1,352 26,088,00' 1,314 37,657,066 1,33c 40,015,161 790 15,845,000
Middle States
liabilities were $34,844,9S6.
The last quarter was New York.... 1,015 15,094,846 998 19,311,933 70C 11,920,822 573 10,295.000
N. York Citv
SHE
887
951
645
0
nearly 1^ millions greater than one-third of the total New i/ersey”. 177 32,490,954 251 33,244,018 134 49.263,667 146 32,580,° 00
3,313,952
2.273,141
2,830,48)
3,854,
63* 15,540,7!Jf
54E 10,731,880
Pennsylvania
for the previous nine months, and
641 34,774,000
17c
although during the Phila. City
4,916,44? V 138
4,281,45 [588 18,247,872
IE
Delaware
It
21
209 600
27
193,001
259,500
latter period there was a decline of 495 in number, and
578,000
129
145
Maryland.
3,003,634
2,104,631 107
9,084,690 110 1,691.000
41
Dis. Columbia
18
18
18
87.977
1,090,10C
164,924
266,000
$4,320,000 in amount, as compared with 1S76, the last
Tot.M. States. 3,049 77,173,75C 2,909 72,244,681 2,5*0 91,771,960 2,163 84,038,000
quarter fell only a little short of extinguishing this South'n States
favorable comparison; yet there is consolation left in Va. & W. Va. 159 1,312,705 172 3,351,289 138 3,296,3'7 111 1,514,000
N. Carolina...
7b
126
56
56
439.569
994,918
928,4*9
542,0(0
S. Uiro.ina...
66
89
61
the fact that the total for the year
1,108,50!
1,509,114 131
2,781,048
1.531,000
does show a decline Georgia
103
1,181,631 147 3,110,145 156 6,128,464 118
1,845,000
Florida
11
149 0 0
14
as
16
14
121,000
2-2,800
293,000
compared with 1876, although small, being 220 in Alabama
43
5!
690.000
42
43
9) 3,0' 0
771,821
1,118,100
80
81
Mississippi...
45
738.258
66
913,565
1,5? 5,000
number, and $447,850-in amount. As to average liabil¬ Louisiana.... 01 1,079,986 80
58
99
893,519
l,4-i8,143
-2,937,6;4
4,424,000
Texas
136
1,890,096 167
1,900,515 250 2,495,849 142 2,201,000
ity, the following is a comparison for five years, the first Arkansas
23
35
270.775
268 257
31
22
391,300
406,0:0
line referring to the entire country, and the second to Kentucky.... 227 6,994,428 241 6 659,247 148 3,660,758 167 1,874,000
91
Tennessee....
94
1,201,110 158
2,229,553 13b
1,121,839
1,585,060
this city only:
Tot. s. States 1,07 c?
,

The report

,

.

i

.

...

r

>

....

.

1877.
No.

1870.

Av’ ge

No.

1875.

Av’ge. No. Av’ge.

1874.
No.

United States 8,672 $21,491 9,092 $21,020 7,740 $25,990 5 830
N. York City.
815 36,71c
887 37,479
951
51,709 045

Av’ge

1873.
No.

Av’ge.

$26,027 5,183 $44,085
50,510

041

143,813

It appears from the above
comparison that the num¬
ber of failures was larger in IS77 than in
any year of
the

five, except 1876, and that, on the other hand, the
average liability was the smallest during this time, with
the same exception, there
being a very slight increase in
that particular over 1876.
The like movement appears
on
examining the figures for this city alone, but the
exception noted for last year, as compared with 1876, is
too

inconsiderable to affect the truth of what

we

have

In

154
350
114
81
141
50
45

...

Iowa..
-Minnesota...
Missouri

.....

St. Louis
Kansas

City

Nebraska....

Tot.W.States 2,7:6
Pac.St.dk Ter.
29
Oregon
California
288
San

Fran.City

Colorado
Nevada
Utah
New Mexico..

103
f;8
5b
11
4
4
4
8
7
4

Arizona

96

717.232

7,239,850
355,(35

838,300

5,414,893
3,191,349
4,787,401
6,079,710
9,161,200
9,736,85.2
4,307,314
3.9 9,1 80
1,565,684
1,272.737
2,618,557

362
434
199
576
2G9
491
132
84
83
48
37

Tot. P.S. &T.

630

the tables given below, Messrs.

Dom. of Can. 1,892

Dun, Barlow & Co. say:

998

18,743,000

8,481,000
2,397,000
7,510,000

j 389

4,804,052

16?

8,218,470

332

283
245
183
149

4,1*3.718
2,131,346
1,610,305
1,803,400

101
144
60

4,477,000
2,575,i 00.
2,031,000
1.129,COO

1189

3,748,793

175

3,061,000

83
38

93,6.0

343

\ 409

435,900

7,993 282

33*

8*9,400
197,400

94
42

988,000
521,000

56,187,074 3,122 52,577,277 2,290

286

35,459,172 1,744 33,073,003

34
169
79
45
25
1

422,476
1,674,973
2,202.698

18

219,448

1237

5,281,111

505,68*
206,167
6,000

70
45
8

7,2t 0

io

140,900

46/ii 0

3
10
3
6
1

266,170
3,252,852
8,483,424
880.103

659,736
44.300

16,30.i
31,300

207,800
54,000

918,351

13,949,185

•

•

•

«

65
■

1,011.700
210,500

•

»

-

.

•••••»

2,571,000'
••••

>

•

• « •

1

7.5,000

(

92,000
2.8 4

83.400

203,861

•

386

5,555,500

0 •'

,*

8,100

386

•

3,000

6
1

30,590

67

....

Grand total.. ?,S72

upon

371

T.notbef.sep..

move.

commenting

350

Washington..

showing the weakening, as well as widening, effects
the present disasters, just as the circles a stone makes

in water

Michigan
Wisconsin

5,8P6.818

3,710,58i
5,718.700
8,117,091
10.065,300
8,032.902
2,128,710
2,604,ICO
1,291,«2

Montana....

thus
of

.....

Idaho
Dakota

out heretofore, the increase in num¬
ber of failures and decrease in their
average amount,

373
120
352
454
2U0

Chicago City.

Wyoming....

repeatedly pointed

17,271,920 1,361 53,083,260 1,207 26,045,143

West'n States.
Ohio
Cincin’i Citv.
Indiana
Illinois.

7,768,914

135

969,003

3.540, OCO-

190,669,93a 1,(92 191,117,786 ",740 201,060,353 E>,830 155,239,000
25,523,903 1,728 25,517,991 1,968 28,843,957

S66

7,696,7(5

'

“The most significant inference from the
foregoing table is that, wherever
there is the most money in circulation in proportion to those
engaged in trade
there ihe failures are mo?-t numerous. J his adds a fresh
demonstration to the
belief that it is not from need of money that the
country is suffering. It is a
favorite argupieut in certaiu quarters that if

Congress'would ‘create’more

money, the failure* would be less. Tee facts warrant no such conclusion
; on
the contrary, a decision in a precisely opposite direction is
reached by an
examination of the above table.
It would be equally good
logic to say that
as the currency to every trader in the West
averaged only $-281, and only on-*
in every eighty-five failed, so, because the

currency in the Eastern States

■

equaled $1,450 lor each trader, therefore one in every fifty-eiaht succumbed—
in other words, that be tause the
circulating medium is live times more plenti¬

ful for each trader in the Eastern States than in the
Western, the failures
should be twenty-five per ceqt greater. No one thinks of
urging such a pre¬
posterous proposition ; yet it is iiQt more unreasonable than t >
allege ihat
failurej will be checked by an issue of more money. The fact is
that the chief
cause of the numerous failures is that too much
money was available in the
past. The startling failures in most cases are not caused by recent transac¬
tion*, but by depan ures from legitimate business principles in the time of in¬
flation.” *****
“The national banking capital in the Middle States is 180
millions, and the
number of traders employing it are 224.000. The
banking capital in the West¬
ern States is only 89 millions, with 231,‘ OJ traders.
The difference in the num¬
ber of traders in the two sections is very
slight, yet, notwithstanding the fact
that the banking capital in the Middle States is over double that of
the West¬
ern States, the failures are ten per cent
greater. Misfortune has come to only
every eighty-fourth trader in the West; bur, it has overtaken
every seventythird business man in the Middle States. It will not do to
account for this
difference by the assertion that more capital is needed and
absorbed in the
business of the East, and that the iock-up of funds
is.greater.. This may be
true in some respects, but the argument is best met in ithe

average

liabilities in the above table, by which it will be seen that fail¬
States
average *21),'18:, against $19,-281 in Eastern States.
The New

England States have a national bank
of 167 millions, for the accommodation of 77,000 tradt rs anl
manufacturers..2
The Southern States have a national bank capital of
only 41 millions for the use
of their 91,000 traders. Yet the New England traders seem to
have much the
hardest times. for therein one in every 53 fails, while in the
South it is only
one in every 85.”
*****

capital 1

The detailed table is




£

STATES.

No. in
busi¬
ness.

National
Bank
Circulat’n

(which

we

given below, the totals for 1873
do not insert in detail) being

1877.

-

jSrd
E3 S3
O

<-

S~ -M

"S

u
a

>

comparison of the

ures in Western
*
*
*
*
*

and 1872

Examining the comparison by geographical sections,
we find a decided decline in total
liabilities, as compared
with 1876, in New England and the South, and an increase
in the other three sections, which is
largest in the Pacific
States, both absolutely and relatively. ‘ Of the cities,
Boston shows a heavy decline ; New York, a trivial
increase; Philadelphia, a greater one my St. Louis, a
heavy one; San Francisco, the heaviest of all y Cincin¬
nati and Chicago also show large increase. In order to
indicate how the failures in the several geographical
divisions compare with the distribution of banking capi¬
tal and circulation, the following table is presented :

^

No.
fail¬
ures.

•

Per¬
cent
of
fail¬
ures.

&

Eastern States
Middle States.
Southern States
Western States
Pacific States & Ter

$

77,724 112,678,336 1,450 1,553 1 in 58
517 3,049 l in 7b
224,707 112 811,913
91,783 23,531,0*6 256 1,078 1 in 85
231,557 65,194,381 3 281 2,7-56 l in 8-1
2 b, *35
118
636 1 in 41
3,(98,454

Total for United States. 652,00a 317,314.110
Dominion of Canada....

$

56,324

22,018,658

Amount
of
Liabili¬
ties.

26,083/07
77,. 73,75).
17,271,9*0
5G. 187,074
13,949, P5

Aver.
liabil¬
ities.

St

19,281
25,311
i 6,022
2 '.287

.1,932

436

8,872 lin?3 190,669,936 21,491

391

1,892

1 in 30

25,523,903 13,400

_1
78
57
BANKING

STATISTICS—HOME

BANES OF THE UNITED

FINANCIAL;

AND

STATES.

The report

AND

FOREIGN.

city of New York, in sums
legislation is not without
April 80,1816, by resolution declared

Treasurer of the United States, in the
of not less than fifty dollars/’ This

of Hon. John Jay Knox, Comptroller of precedent, for Congress, on
that “from and after
Currency, for 1876-7, was full, as usual, of important taxes, debts or sums ofthe 20thday of February next.no duties,
money, accruing or becoming payable to
statistics, relating to bank and currency movements. the United States, ought to t>9 collected or received otherwise
than in the legal currency of the United States, or Treasury
The following is condensed from his extended report:
notes, or notes of the Bank of the United States, or in notes of
the

The total number of national banks organized since the estab¬
lishment of the national banking system, on February 25, 1868,
is 2,372 ; of these, two hundred and thirty-three have gone into

voluntary liquidation, by vote of shareholders owning two-thirds
placed in the

of their respective capitals, and fifty-nine have been
hands of receivers for the purpose of closing up

their affairs,
leaving 2,080 in existence on November 1 of this year. Included
in the aggregate number organized are nine national gold banks,
located in the State of California, which redeem their circulating
notes at their places of issue, and in the City of San Francisco, in
gold coin. These have an aggregate capital of $4,300,000, and
an aggregate circulation of $1,432,120.
During the past year twenty-nine banks have been organized,
with

authorized capital of $2,589,000, to which $1,244,520 in

an

circulating notes have been issued. Ten banks have failed within
this period, having an aggregate capital of $3,344,000; and
twenty six banks, with a total capital of $2,589,500, have volun¬
tarily discontinued business.
The following table exhibits the resources and liabilities of the

banks at the close of business
the date of their last report;

the first day of October, 1877—
the returns from New York, from
Boston, Philadelphia and Baltimore, from the other reserve cities,
and from the remaining banks of the country, being tabulated
separately:
N.

on

Boston,
York Phil, and

City.

Baltiin’re

47 bank?. 99 banks.

Payable In gold....

with¬

All other loans
Overdrafts
Bonds lor circulation
Bonds for deposits

U. S. bond-) on hand
Other nocks and • ouds

Due from reserve agents
Due from other national banks
Due from other banks and
banke; s
Real estate, furniture and fix¬
tures

Current expenses

Premiums

Checks and other cash items.,.

Exchanges for clear ng-house..

Bills of o her national banks...
f ractional cutrcn y

Specie
Legal-tender notes

,

U S. ceniflcates of deposit.
Five per cent redemption fund
Due from 17. S. Treasury..
..

Totals

Liabilities.

Capital stock

Surplus fund
Undivided profits

National-bank notes outstand¬

4*,7*63,448

1,213,512

877,400

48,S76/83 18,05;,41S
661
4,319,0.4

banks.

8,680,788
2,959,431

$

465,250,106

10,588,012 7,074,807
",800,54
70,148,14.
95,902,7 6 134,750,21
483,758
108,894
89,89)
3,044,752
19,0.'8,5 0 47,* 1'*,230 2'!.597,800 247,445,450
'.80,1 00
600,) < hi 3, 50,50)J 10,272,500
11,383,0 0 4 212,901 8,223,5 0 11,204,200
9,2i8,r.2o 3,776,317 2,*36, 81 18,604,6613.1n5.08
11,203,8 >2 43.83 >,195
14,900 901 8,850,609 5,438,992 15,995,745
2,421,509

069,836

9,389,26
1,0-18,-or
1,72 ?,00
1,917.34:
53,84 4, S91
l,46t, 0-1
75, 3
12,948,406
15,236,845

6,746,895
684,39
1,13-4,733
880,33)

19.0 5,UU0

797,276
187, tO

2,060,452

4,993,129 24.100,691

45,229 983
6,915,792

895.346

9(6,283

7 0, v 5'

4,0 C,249
f.,452,1 3

8,126,6.7

The New York banks resumed specie payment on Febru¬
i0, 1817, but resumption was not general throughout the
country until about the close of the year 1819. There was also
a
general suspension in May, 1837; but in May of the next year
the New York and New England banks again resumed specie
payment.
The banks in Pennsylvania finally resumed, under
the coercion of the State Legislature, in March, 1842.
Banks in
o her
portions of the country resumed a? about thn same date. A
general suspension again occurred in October, 1857, the banks
resuming snecie payment in the following year.
From such data as are now obtainable the following table has
been prepared, giving the items of circula’ion, deposits and bank
balances of all the State banks, and of the specie held by
them, for a series of eight years, covering both of the periods
of suspension and resumption :
1814.

ary

Deposits and
Circulation.

Years.

bank bal¬

Total.

Specie.

ances.

§103,692,193
140.301,038
149,185,-90
116,138.910
135.170,' 95
106 908,572
107,21 0,211
83,734,011

$83,Os’, 365

$186,77.3,8*0

$ 3,9 -7,623

115.104.444

255.4 5,47.8

40,019.594

130,148,393
87.511,723

279,334.2-3
2*3,65 >.'33
225, 48 2;i2

37.91'>,:-49
3*.184,112

64,890,101
62,408,870

172,180, : 15

$117,810,265

$89,042,310

$206,852,575

$37,318,610

$131,3'6 526
155, l6\25i
!
46,!'72,780
204,689,207
186,95°,223
195,747,950

$109,586 595
123,956,712
146,258,88.0
188,118,744
191,4)0,342
212,703,662

$210,953,121

$45,379,345

2»4 121.963
29 >,331 660

4^,671,048

214.778.822

1835.
1836
1837
1838
1839
1840
1841
1842

230,351.352

155,208,344
$173,747,633

! OJ77. *‘.-7
78 7*6,283

45,132.1.73

185,684,863

33,105,155
34,813,953

146,142 881

28,440.423

*

Averages
1850
1851
1853
1854
1855
1856
1857
1S58

.

Averages
The

185,932,149

377,352,565
408,453,612
445.130,174
341.140,393

47,138,592
59,410,253
53,944,546
19,311,063
58.349,)-o8
74,412,832

$174,047,542

$347,793,180

$55,827,565

3)2.-77,951

subjoined table gives similar information in reference to

9,219,175

Deposits and

74,5 5,216
15,531, >>7

900,806
22,65 ,820
66.920.631
83,4 0 000
14.494.631
1,5*7,119

5',40 1 000 80,034.985 43,625,500 298,407,286
16, 66,881 21,615,952 11,504,514 73.078,76
9,241,712 4,176, 95 3,941,76t 27,212,946

19,500,050 216,473,128

291,874,2:16

Years.

$296,205,416

l->72
183

122.77 M21

44,572,6.9
481.733

3,623,701
616,403,937
7,972,715

2,376,983
115,028,9 U
46,577.439
3,791,2 9

,

Circulation.

bank bal¬

Lega1 Tender
Totai.

funds.

ances.

479,467,771

129,715
11,1S6
777,921
1,451,101
61,459,371 27,634,739 14,126,715 il,80S, 126
i ,563,6 i i
21,586,763
11,356,6.35 6,170,164
440.679
3,3>0,540
1,185,503
1,866,850 8,084,764

payable and paid, on demand,, in the said

are

11,671,-83

144,781,65 296,737,S29 173,076,879 926,4:8,304 1,741,081,663

U. S. disbursing

officers.
Due to national banks
Due to other banks and bankers
Note and bills re-discouuted...
Bills payable

which

currency of the United States.”
The banks in this country, with the exception of those in the
New England States, suspended specie payment in September,

legal

11,415,761

4,811,354
1,978,132 9,7:7,902
80,02i
661,188
3,984,687 1,570/ 97 4,iI5,63U
8, r. 6 998 12,'17 7,463 SO,329,358
0,016,000 3,005,000 1,315,000
944,67)' 10.706.9 8
2, 45,713
134.789
250, l j5
954,323

15,838,971
2,36 ,12;.
80,0-9

8,677,303
336,810,95
14,903,000
40, 8',700
34,435,995
73,284,133
45,217,217

5,963,964

State-banK notes outstanding...
13,536
hi,513
71,279
239,110
Dividends unpaid
221.24
179,702 1.878,671
1,314,090
Individual deposits
102400,317 112,3.1,118 63,826,186 277, 56,366
TJ. S. deposits....
302,9c b
c03,0:0 1,856,615 5,510,031

Deposits of

8S8,243,290

1

15,395,2 7 40,445,711

ing

Country Aggregate

£9 banks l:45b’nks 2080 banks.

*

On U. S. bonds on demand...
On other stocks, bonde, &c.,
on demand

other security

cities.*

$

Loans and discounts

out

Other

reserve

r

Resources.

On einele-iiame paper,

.

banks

Averages

318,265,481
336,2:9.285
341,320,-.56
331,193,159
314,979,451
292,011,575
291,874,236

$315,267,361

$456,586,096
505.817,694
527,221,571
505,871,420

$752,791,542
824,113,175
863,511^56

847,191,676

$141,984,869
140,659,233
133 804,706
..

155,765,143

616,513,162
580,685,391
583,430,276
577,191,727

947,706,321
895,664,812
875,441,851
869,065,963

155.452.137

$544,168,417

$359,435,773

$143,469,370

134 681,3-0
139 920,354

137.484.137

By reference to these tables it will be seen that from 1835 to
specie to circulation held by the State
and to circulation and deposits 18 per
cent; and that from 1850 to 1858 it was 32 1 and 16*01 per cent,
1842 the average ratio of
banks was 31*67 per cent,

The ratio of specie and legal tenders to circulation
eight years named, was 45*5, and
to circulation and deposits 16*7 per cent.
*
*
*
Totals...
344.781,65 291.737,829 i:3.0>',879 926,438,304 1,741,034,663
The yearly average circulation of the banks of the State of
•The reserve cities, in addition to New Fork, Boston, Philade'phla, and BaleNew York for the ten years from 1851 to 1860 was $29,698,094,
more, are Albany, Pittsburg. Washington, New Orleans, Louisville,
Cincinnati,
Cleveland, Chicago, Deti*oit, Milwaukee, Sc. Louis and San Fi ancisco.
ind of deposits $82,364,349.
The average amount of specie held
THE BANKS AND RESUMPTION.
by those banks yearly during the same period was $16,287,377,
Sec. 3 of the act of January 14, 1875, provides that
;>f which about one-eighth only was held by the banks ou'side
on and
after the first day of January, anno Domini eighteen hundred of the city of New York, and the remaining seven-eighths by the
and seventy nine, the Secretary of the Treasury shall redeem, banks in that city.
The average ratio of specie to circulation for
in coin, the United States legal tender notes then outstanding, on the ten years named was 54*8 per cent, while to circulation and
their presentation for' redemption at the office of the Assistant deposits the ratio was only 14*5 per cent.




'

6 137,117

respectively.

of the national banks, for the

0

BANKING AND FINANCIAL.

The

following tables show the strength of the State banks

of New York
City for the six years from 1855 to I860,
with that of the national banks of the same
city, at

responding dates for the last six

compared

nearly

cor¬

years:

State Banks of New York

City.
Ratios of—

■«s
a

banks.

Dates.

Circula¬
tion.

Total
lialil ties.

Deposits.

Legal-ten¬

der f nds *

1, 1855

Oct.
Oct.
Oct.
Oct.
Oct.

P

1, 1860.
...

'S’5
O

yl

$
7,724,970
8,665,194

$
56,76.775
63,661,171

7/38,308

7,864,37-3
8,337,702

$

tfO®
+jfa

a>

h)

$

64,461,745
7',356,365

9,919.124

128 4

56,918/63
86,081,897
70,81*,U 5

10,873,320

93,946.270

28,625,331

9,487,637

19,259,126

125-5
170*0
364-0
231-0

76,383,393

85,871.030

20,177,086

212-7

15 4
150
20 6
305
24 3
23-5

8,319,G97

68,432,367

76,752,064

17,030.164

204-7

22*2

161*7
170-5

212,744,440
190,328,412

66/35,862 264*3
59,395,715 324*4
59,843.958 403 5
47,260,251 307-0

2L4
233
29 "1
26*9
£8*1
24-8

206,642,591

54.265.827

26-3

64.757,171

13.321,095

79,149,8'7

National Banks in New York City.
Oct
Oct.
Oct.

2,1874.
1, 1875
2, 1876.
1, 1877.

Oct.
Oct.

Averages.

9
28,0:«',951
27,482.342
25,201,781

50
48
48
48
47
47

3, 1872.

Sept. 12, 1873

14,832,784
15,395,257

21,663,739

1=5,078/52

1S,S0 ‘,317

48

...

$
186,105,072
200,193,186
229,912,089

158,034,121
172,710,844
204,620,2 8
202,263,052
197.9!'.,656
174,933,155

U “ Legal-tender funds,” in the

ca-e

$
45,3 *4,832
46.864,341

220,572,369

251*7

of the State banks represents specie.

present year.
!, 1863

following table exhibits, by States and geographical divi-

sions, the number of banks organized and in operation, with their

capital, bonds on deposit, and circulation issued, redeemed
outstanding on the 1st day of November, 1877
States and Terri¬
tories.

Biannks operatin
i

Maine
New Hampshire..
Vermont

Massachusetts....
Rhode Island....

Connecticut

Bonds.

Capital.
Capital
pa d in.

B-nds

72
46

on

deposit.

46
237
61
81

$
10,660,600

and

Redeemed Outstand¬

Issued.

ing.

$
$
9,459,250 19,239,520

5,740.000

5,769.0 0
7,635o'00

8.168 700

97,147,000 69,556,850
20,079,8(4) 14,653.90.)
25,548,120 19,731,206

$
$
10,569,631
8.669,889
11,401,455
6,198.638 5,20 ,8:7
17,350.960 10,150,370
7,*00,: 90
153,67', 580 9',25*. 113 61.419,467
19,629.985 12,817/4 1
32,447,825
43,955,140 2-., 587,4-St 17,367,733

543

New York
New Jersey.

..

.

Pennsylvania

95,199,691 54,619,950 156,836,355 107,1(3 027 49,733.328
11,118,350 12,549,350 21,238,72 t 16,(01,66= 11 227.052
56,014, .-40 41.951,300 101,154,415 59,664,955 41,489,460
1.6 ;3.9S5
1,484,200
3,149,315
1.784,115 1,36 5 200
13,298.685 8,115,000 21,118,700 13,161,27*
7,957,430

Delaware

13

Maryland...

32

Totals,

Middle

States

62=

Diet, of Columbia.

Virginia

West Virginia...
North Carolina...
South Carolina...

Georgia
Florida
Alabama

6
19
15
15
12
12
1

10

189,355,051 121,752,800 309,517,505 197,775,035 111,772,470
1.432.000

1,038,000

3,485,000
1,846.0 0
2,601,000
2,870,700
2,141,000
50,000

2,719.850

1,548,2)0
1,309.000

1,470,060
1,899 000
50.00.!

1,658,000

1,523,0.0

?,29S,300
6,889,99i
4,743,240
3,409,550
3,:- 67,185
4,451,20.'
52,4 0

2.258,857
4,373.967
1,914,760
1.968,835
2,611,125

Louisiana
Texas

7
12
2

46
25
30

Arkansas....

Kentucky

Tennessee
Missouri

3,900,000
1,1*5,000

9,986,500
3,0-0,300
7,735,000

2,736,750

1,840,135
44.40

l,27i,2; 7
64,479
4,120.6 8
1,039,4-7
220,765
8,341,7'.>7
3,430,( 66

9.0,00:
5,694,76';
6=4,010
1,608,>30
473.700
205,000
8,357,350 16,618,'55
2,624,500 5,93t>,5’<

205,000

1,491,790
1,398.3 0

8.000

60 000

Mississippi

1,039,443
2,516,023
1,627,672

3,05,568

2,270,000 10,607,405

1,521

1,544,062
568,913
252,935
8.276.253
2,500,454.

7,889,811

2,717,591

Totals, Southern
and SouthwestStates

ern

....

Ohio

.

Indiana
Illinois

,.

Michigan,

Wisconsin

Iowa

42,115,500 56,705,950 69,917,545

164
99
141
81
40

23,471,900 23,627,250 53,122,830 39,939,539 22,183,291
16,18 V 00 13,281,700 32,253,385 19,695,76' 12,557,624
18,161,' 00 10,413,000 31,895,265 21.233 462 10,661,8!=3
9;«44;5' 0 6,2 >7,1(0 14,991!/20 9,117,897 5,8 2/23
3,500,000 2,295,5’ 0 6,777,140
4,:- 82,4 8
2.394,712
4,475,500 11,417 88'
6,107,000
7,14=, 096
4.299.784
4,628,700 2,G94,400
6,638,580
8,960,46
2, r 78,118
1,065, UK)
940, UtO 2,676,260
1,637,936
1,038. 72
1,0 0,000
82f,0 C
1,746,860
955,900
750,960

78

Minnesota
Kansas

Nebraska.

212

.......

Totals. Western
States.

31
15
10

6C2

89,283,600

1
13
1
)

..

250,000

6

Oregon
.

5

Wyoming

New Mexico

Dakota-

....

Totals,
Sta

es

2
2
1

1,235.00(
200,000

629,482 27,288,063

J,8i8,45( 161,548.320 99,071,533 62,476,787

Nevada
Colorado
Utah
Idaho
Montana

42

2 0,0 0
732.000
50,0. (

100,' 00
350,0 0
125,000
300,000

100,00,
236,' 00

50,00.

£0.000

2,010,0(0

l,778,fC0

60,600

300,060

131,70
460,40'

1,117,620
602,23,1
180,00'
464,420

103,200
543,260
9 ,930

127,877
5,4 0
7*9,13
519,162
1(3,939
249,351

3,823

2

47.060
275.2 K

46,930

2?5 0.0

688,483
83, Of 8

•

8?,701
215,(69
56,14 1
268.050

44,000

Pacific
& Ter-

ritories

26

Due banks for mutilated notes retired

Grand totals
2,071 482,312,771 341,2 0,900
Add for gold b’ks.
9
...

4,300,00!

1,788,000

Totals of currency
and gold banks. 2,080
4S6,61\771 313,018 900




1

1.465,483

299,747,569

1, 1870

299,624,322

1, 1871
1, 1872

304,956,849

1, 1&73

Jan.

1, 1874.......

$348,510,478

Jan. 1, 1875
Jun. 1, 1876
Jan. 1, 1877......

347,959,471
341,653,672

342,541,4521

318,356,754
315,881,990

327,727,306 1 Nov. 1, 1857....

legal-tender notes equal to eighty per
$27,509,108, have been retired, leaving $354,490,892 of the latter notes outstanding November
1,1877. The
amount of additional circulation
issued for the year
ending
November 1, 1877, was

thereof,

or

$16,306,030, of which $1,244,520 was
twenty-nine banks organized during the year,
capital amounting to $2.589,000; and within the same having
period
$20,681,637 of circulation were retired, without reissue
;
the
issued to

167,943,620 126,205.700 278,066,480 165,388,144 112,678,336

2=2
<9
23*

$299,846,206

1.1839

cent

Totals, Eastern
States

as
security for such
January 14, 1875, repealed all provisions

Since the passage of the act of June
20, 1874, $76,221,220 of
legal-tender notes have been deposited in the
Treasury for the
purpose of retiring circulation, and
$63,109,849 of bank notes
have been redeemed,
destroyed and retired. Since the passage
of the act of
January 14, 1875, $34,380,385 of additional circula¬
tion has been issued, and

Circulation.

1

held

aggregate amount of national bank circulation,
required the Secretary of the Treasury to retire
legal-tender
notes to an amount
equal to eighty per cent of the nationalbank notes thereafter
issued, until the amount of such legaltender notes
outstanding should be $300,000,000, and no more.
Nearly all of the $300,000,000 of national-bank circulation
originally authorized was issued during the first six
years subse¬
quent to the establishment of the
system, the amount outstand¬
ing on November 1, 1868, having been
$299,887,675—or within
$112,325 of the authorized limit. The additional
fifty-four mil¬
lions authorized by the act of
July 12, 1b70, was never wholly
issued, the greatest amount of circulation
outstanding at any
time having been on December
1, 1874, when it was $352,394346, or $1,605,654 less than then authorized
by law.
Since the passage of the acts of June
20, 1874, and of January
14, 1875, authorizing the retirement and reissue of
national bank
notes at the pleasure
of the banks, the circulation has been
steadily decreasing in amount. This will be seen from the fol¬
lowing table, which exhibits the total outstanding
not
including mutilated notes in transit, upon the circulation,
1st
of
January for the last ten years, and also upon November 1 daythe
of
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.

NATIONAL-BANK CIRCULATION.

The

the bonds

and

0 £*

«

of

restricting the

*

0

a

amount

notes ; and the act of

0

%£

48

1, 1857.
1, 1858.
1, 1859.

Averages

-i.

fifty-four millions.The act of June 20, 1874, authorized
any
desiring to withdraw its circulating notes, in whole
deposit lawful money
United States, in sums not less than with the Treasurer of the
$9,000, and to withdraw a
national bank
or in
part, to

proportionate

a
0

*43

-t-i

48
50
50
46
<7
50

1, 1856.

*-1

O S3

Numobefr
Oct.

£

£

3

The act of
February 25, 1863, and the subsequent acts of
June 3,1864, and March
3, 1865, authorized the issue of three
hundred millions of dollars of
national-bank circulation, which
was increased
by the act of July 12, 1870, to three hundred and

actual decrease for the
year being $4,375,607, and the
total decrease since
January 14, 1875, $35,086,339. During
the year ending
November 1, 1877, lawful money to the amount
of $10,465,756 was

deposited with

the Treasurer to redeermcir-

culation, of which amount $2,291,266 were
deposited by banks in
liquidation. The amount previously deposited, under the act of
June 20, 1874, was
$52,853,560, and by banks in
$9,088,229; to wdiich is to be added a balance of liquidation
$3,813,675
remaining from deposits made by liquidating banks prior to the
passage ot that act. Deducting from the total of the sums
named
($70,121,220) the amount of circulating notes redeemed and
destroyed and for which no reissue has been made

there remained in the hands of the Treasurer
1877, $13,111,371 of lawful money for the

ment of

($63,109,849),

on

November 1,

redemption and

circulation.

retire¬

*********
RESERVE.

It is estimated by the best
authorities that the Scotch
banks,
which have long
enjoyed the reputation of being well managed,
and the Joint-stock and other
incorporated banks of England (not
including the Bank of England) hold not exceeding five per cent
of their liabilities in
ready money. The remainder of their
reserves

interest

are

largely invested in

at the

price of which,
*

*

the English consols,
bearing
three per cent per
annum, the
since 1850, has been about 92 cents to the average
dollar.
rate of

*

*

The national banks in the

*

reserve

*

cities

*

*

*

required to
twenty-five per cent upon deposits, one-half of keep a
which
may be on deposit with their reserve agents in the
city of New
York. The country banks are
required to hold a reserve of fifteen
per cent upon deposits, three-fifths of which
may consist of bal¬
ances with their
correspondents in the reserve cities. An amount
equal to more than one-sixth of the capital of the national
banks,
or about
$87,000,000, is thus continually kept on deposit with the
reserve

of

are

banks in the reserve cities. A
considerable portion,
probably
one half of this
amount, is sent by the banks to tneir
correspon¬
dents, not for the purpose of legitimate
business, but in order to
obtain interest upon idle funds which
cannot be invested
by them
in available loans.
It authority were
given to the national banks
to hold, in four
per cent bonds of a denomination less than
fifty

dollars, such portion of their reserve on deposit with their
agents
they might think proper, it would result in a
large investment
by them in these securities; and the savings bank
depositor, if
he should to desire, would then find no
difficulty in disposing of
these small bonds among the
893,12!
twenty-one hundred national hanks,
one, at least, of which is located in almost
823,079,650 507,197,66' 316,775,111
every village in the
2,961,000
1,528,880 1,432,120 country. This policy would also have the effect of
strengthening
the available resources of the
banks, and of retaining in their
hands a considerable portion of those idle
funds which are now
827,010,650 "08,726,540 318,207,231
sent to their correspondents in the central
cities, and are loaned
by the latter, upon call, to dealers in speculative securities.
3,599,8C0

2,333,466

1,666,334

as

BANKING
It is estimated tliat

an

AND

The following table
the reserve required

amount, varying from 200 to 600 millions

of dollars, is held in English consols, as a reserve fund,
banks of the United Kingdom; and there does not seem to

FINANCIAL,

exhibits the amount of net deposits, and
thereon by the act of June 20, 1874, to¬
gether with the amount and classification of reserve held, at ten
different dates, from October 2, 1874, to October 1, 1877, the date

by the
be any

reason why the four per cent consols of the United States
should not be employed for a similar purpose in this country.

good

ot the latest returns from the banks.

The

following tables exhibit the amount of circulation, net
deposits and reserve held by the national banks in the States and
Territories, together with the total amount held by all the banks,
at three periods in each year, from 1871 to the present time:
[Figures

are

expressed in millions and fractions of millions. Thus, 202*8

STATES AND TERRITORIES, EXCLUSIVE OP RESERVE CITIES.

Reserve held. Classification of

means

STATES AND TERRITORIES,

EXCLUSIVE OP RESERVE CITIES.

Liabilities.
<u

bNauonmkbfse.r Circulaton. deposit.

Dates 4

202 8
2042
210-2
220*1
222*0
227-3
231-9
232-8
233 1

t

Oct,

.

1.689

3,

April 25, 1873 1,732
44

June

1,737
13, 4%
Sept. 12,
1,747
Hay
1, 1874 li761
44
June 26,
1,755
44
Oct.
2,
1,774
1, 1875 1.815
May
44
June 30,
1,845
II
Oct.
1,
1,851
May 12, 187C 1,853
»l
June 30,
1,855
4
Oct.
1.853
2,
April 1", 1877 1,819
June 22,
1,844
44
Oct.
1.845
1*

235-8
235*4
234*1
231*5
229-8
230 7
222-4
218-8
218 6
217-7
214-5
2'6-5

•

4

•

235-8
241-1

257-4
287-3
268-8
282-1
260-7
264-9
303 8
286*2
287 4
263-4
3f 5 2
3115
306-7
298 7
298-7
291-2
293-4
290-9
269-4

Oct.

«

May

o »

(V

a>

>

Total.

Amount.

f-t

a>
M

a>

Ph

65-8
668
70-1
73-1
736
76-4

438-6
445-3
467-6
487-4
490*8
509*4
522*6
527-7
536-9
522-0
522-8

78-4
79-2
806
78-4

785

527*5

79 2
80-5
81-2
80-7
78-2
77-6
78-5
76-7
75-9
76*0

536-7
541-3
537-4
521-1
517-5
509-8
511-1
505-4
505-9

98-7
101*7
98 9
9S-0

101*8
97-8
105*7
108-9
110-5
112-6
111*5
100*6
1007
105*2

100*1

Si
Cj

«
i

P.ct.
22 6
22 8
21-2
20-2
20-7
19-2
202
20-6
20-6
21*6
21-3
19*1

18-8
19-4
18-6

104-5 20-1
103-8 20-1
ioo-o 19-6
103-9- 20-3
101-9 20-2
95 4 189

[

lawful from

25
2-0

405
40-4

1*8

.41-5
43-2
42-1
43-3
45-1
44-9
44-5
50-1
47 3
45 5
47-1
45 2
452
45 9
44-1

May 12, 1876...

June 30, 1876...
Oct. 2, 1876...
Apr. 14, 1877...
Jiine22, 1877...
Oct. 1.1877...

55-7
593

2-6

1,774

2,1874...
1,1875...

June 30,1875...
Oct. 1,1875...

Other money. Due agents.
Speci .

|

1,815
1,845

1,851
1,853
1,855

1,853
1,839
1,844

1-7
21
2*4
2-2
2-4
1*5
1-6
V6
1-9
2-6
28
4-2
4-2
42

41*8
43-8
427

42-3

1.845

57-8

Oct,

52 5
59*0
62-3
63'9
60 1
62-0
52-7
52 1
58-4
533
56-7
57-2
55 4
55-9
550
469

May

43
48
48
48
47
47
47
47
47
47

2,1874...

1,1875...
June 30, 1875..
Oct.

1, 1875...

May 12, 1816...
June 30, 1876...
Oct. 2,1876...

Apr. 14, 1877...
22, 1877...
1,1877...

June
Oct.

Oct.

“

2,

April 14, 1877
June 22i “
Oct.

“

1,

^

31 8
31-0
30-6
28-6
28*3
28*1
28*0
27 7
275
27*226*2
253
21*0
19-2
18*3
16-1
15-6
14 8
162
15*9
154

195 1
211*0
191-3
172-0
196-9
158 0
163 6
18n-5
172*7
.207*6
206*4
204*6
197 5
218-4

202-3
180-5
195 8
197 9
191 9
2437
174*9

56*7
605
55 5
501
56-3
46 5
47*9
53 6
50-0
58-7
58 1
57-5
54 6
59-4
55-1
49-2
5-2-8
53 2
52-0
64 9
47 "6

226 9
242 0
221*9
200 6
225-2
186-1
1916
214-2
200-2
5348
232 6
2-29-9
218 5
237-G
220 6
196 6
211-4
212-7
208-1
259-6
190 3

Oct.

2, 1874...

May

1, 1875...
30, 1875...

J une

Oct.

182
181
183
188
189
169
189
187
187
188

1, 1S75...

May 12, 1376...
June 30, 1876
65-7
76-6
59 2
53 4
656
454
47 3
64-4
46-9
713
71 8
68 3
578
76-6
60-5
53-4
65-1
607
54 9
613
48-1

29-0
317
26-7
26 6
29-1
1*4*4
24-7
30-1

234
30-4
309
29 7
26-4
32-2
27-4
27-2
30-8
28-5
26-4
23 6
v5‘2

119
11-4
87
11-9
15-2
6-4

131
236
14-6
55-0
15-5
34-4
67
13*7
50

53-9
652
50-5
41-5
50*4
39-0
34-2

Oct.
,

#

June 22, 1877...
1. 1877
Oct.
..

#

.

.

•

16 0
18-1
14 6
15-8
11-7
13-0

•

June 10,
Oct.
2,

it

April 19,

1872
tl

June 10,
Oct.
3,

II

April 25, 1873
Jane 13,
ll
Sept. 12,
1, 1874
May
41

(4

June 26,
Oct.
2,

May

(4

1, 1875
44

June 30,
Oct.
1.

<4

May 12, 1876
44

June
Oct.

30, 44
2,
April lb 1877
44
June 22,
44
Oct.
1,

171
172
176
176
176
180
181
182
181
119
180
182

71-6
72-5
74 6
76 6
76-8
78-1
78-2
78-2
77-8
773
76 9

183

73-1
70-8

183
188
189
189
189
187
187
188

69-1
69-4
61-7
60 0
58*4
60-8
596
600

179*6
189-9
183 1
183*9
198*1
179 6
196*0
210 5
197-5
210-9
219-1
219*9
217 9
225-5
222 3
233-9
219-0
216-3
2C9-5
233-7
203-4

251-2
2624
262 7
260 5
274*9
257-7
274 2
288 7
275*3
288-2
296-0
293-0

288 7
294 6
292-3
275-6
279-0
274 7
273 3
293 3
2634

61*8
65-6
65-7
65-1

63-7
64-4
686
722
68-8
72-1
74*0
73-3
72-2
73 7
73-1
68-9
69-8
63 7
67-6
73-3
65 9

79-1
831
75-3
71-4
79-1
66 8
72-4
80 8
718
842
87*4
76-0
72-0
78-0
7 4*5
727
77*8
76-1
72-3
77-2
67-3

31 5
31-7
28-7
27-4
28-8
25*9
26-4
28-0
26-1
29-2
29-5
25-9
25-0

3-9

45-8

26-4

?5-5
30-0
27-9
277
•26 7
26 3
25*5

2-8
1*5
5-1
2-8
1-9
22
2-7
32
5-1
4-5
45
24
37
1-5
3-8
4-7
40

7-1
54
5-6

47 2
42 6
36-4
42-6

367
40*4
432
36'3
45 4
47-4
40-4
41-1
430
40-7

38-8
42-4
40-1
361
44 7
37-3

Oct.
Mav

v

•

#

m

#

m

m

m

m

m

m

May 12, 18:0...

m

m

.

1, 1875...
June 30, 1375...
Oct.
1. 1875...

#

m

m

•

June
Oct.
Anr.
June
Oct.

June
Oct.

•

I

1,853
10,
1.919
s,
1873 1,962
April 25,
June 13,
1,963
II
(1

1,9:6
Sept. 12,
May 1, 1874 1,978
<t
June 26,
Oct.
2,

.

May

(1

1,933
2,004

1, 1875 2,046
2,076
II
2,087
May 12, 1876 2,089
June 30, tl
2,091
14
Oct.
2,089
2,
14 1877 2,073
April
June 22, 41
2,078
41
Oct,
1.
2,080
June 30,
Oct.
1,

Ik

Previous to the passage

916-6
949-7
952*2
948 5
990-9
953 3

988-4

1,030-7
1,012*4

1,045*0
1,051*5
1,0504
1,043 9
1,0735
1,050 3
993 3

1,007-9
967-2
989-5

1,058-3
959 6

1853
192-9
191-3
188-4
1686
187-4
194-9
204-9
199-5
209-1
2106
2100
207-3
2143
208-9
1963
200-2
198-4
196 3
214 1
189 5

2135
261-4
233 4
221-9
246 5
209-9

225-4
254*1
229-1
268-1
270-7
244 9

230-5
259-8
235-1
230-6
2467
2368
231*1
240-4
210-8

26-6
27-5
24-5
2i-5
24 9
25*1
228
24*7
22 6
25-7
25 7
23-3
22*1
24-2

223
23*2
24 5
23 7

23-4
22-7
22 0

18-3
16 2
12-0
19*6
20 0
10*2
16*9
28 0’
19-9
32-5
233
21*3
10-6
19 0
8*1
21*7
25 3
21*4
271
21-3
22-8

140-1
152-8
134-5
121-2
134-9
119-0
119-7
1290
113-1
141-8
150-9
139-8
139-3
151-1
141-4
122-1
1535
128-0
119 0
1370
1147

85*1
924
86 9
82*1
91 6
80-7
88 8
971
96-1
63 8
97 5
83-8
80 6
89 7
85*6
86 8
879
87-4
85-0
82-1
733

of the act of June 20,1874. the national
required to hold a reserve upon circulation and de¬
posits. By that act the provisions requiring a reserve to be kept
upon circulation were repealed ; but the banks were required to
deposit with the Treasurer of the United States lawful money,
equal in amount to five per centum of their circulation, as a re¬
demption fund, which fund was authorized to be counted as a
part of the reserve upon deposits. In the table above given this
redemption fund, on and after June 26, 1874, is included in the
item of “ other lawful money,” and the ratio of reserve, as
given,
is upon both circulation and deposits.
banks

were




450

45-0
43 8
44-2
43-8
43 6

34-3
32 9
33-6
32*5
34-9
347
34-3
3*** 3
35*0
32-9

i

i

MU.
2 4
1*5
1-6
1-6
1-9
25
2-7
42
4-2
42

MiT ns.
836
35 2
335
33-7
34 9
33*2
31-0
331
32*1
31-6

Mil.
52 "7
52-1
58 4
53-3
56 7
572
55-4
559
55-0
48 9

|

Mil.
11-9
11-9
11-6
11 5
HO
10-9
10-8

10-7
10-6
10*7

304-6
197-5
118-4
202-3
180-5
195-8
197 9
191*9
243-7
174-9

512
49-4
546
50-6
45-1
49-0
49-5

45-0
60 9
437

683
57-8
766
60-5
53 4
65-1
60 7
64*9
61 3
43-1

33 4
29 2
351
29 9
29-6
33-2
30-7
28-fi
25 T
27-5

144
67
13 7
5 0
16 0

18-1
14 6
15-8
11-7
130

52-4
49 9
61-8
54.4
£6 5
46-2
45-3
33-2
43-7
3i"3

15
1-2
1*1
IT
0-9
08
0-8
0 9
0 9
0*8

2214
219-3
226-9
273 9
214 6
2190
217 0
210-2
234-3
204-1

.

55-3
54-8
56-7
56 0
53 "6
54 9
54 2
52-5
586
51-0

76-0

34-3

72 T

329
344
33 3
33 9
35-4
35" 1

77-9
745
72-8
77 8
76-1
72 3
77-2
67-3

4 5
2*4
37
1-5

38
4 7
40
7-1
54

41-6

5-6

343

31-1
28*6
31*3
3^3
30 1
30-7
32 0
291
27-1
24-4

21*3
10 6
390
8-1
21-7
*5 3
21-3
27.1

344
32-9
330

36-7
37-4
39 3
37-1
357
39-4
37-1
331

12>7
122 5
134-6
125-2
107 1
118 8
113 4
104-4
122-4
100 2

83-8
80 7
89-7
85o
86-8
879
87-4
85 "0
82T
78 3

3-7
36
3-H
3 6
3 2
30
3 0
80
31
30

2,004
2,046

2,076
2,087
2,089

30. 1876...

2 091

2, 1876...

2,089

14. 1877...

2,073
2,078

22. 18.7...
1, 1877...

2.080

7194
723-0
757 9
731*1
694 5
714-9
706-6
696-3
770-6
669 1

150*6

244-9
230 6
*59-6
235 1
2-0 7
246 7
236-7
231 1
210 4
2108

150-2
T58 3
152 9
143-7
148 9
147 5
144-7
163 3
138-3

340
31-9
34 3
32-0
S3-2
34 5
33-5
32 2
31*2
31-5

21-3

22-8

17'

l!

16-7,
16-31
16 2!

15-1|
14 r.
14-6
14H1
14 6
14 5!

In the above table, as will be seen, the redemption fund is:
given * separate from the lawful money reserve required to be
kept on hand, and from the amount due from reserve agents.

•

29-4
33-1
31-2
29 9
337
i82
29 8
34 9
32-3
33-7
355
3fl
28-5
31-3
323
30 1
£0-7
£2 0
29 1
27 1
24-4

2, 1874...

CLASSIFICATION

OF

CITY, AND RATES
from

.

1874

to

LOANS

OF

OF

NATIONAL

INTEREST IN

BANKS IN NEW YORK

NEW YORK AND LONDON

1877.

The following table contains a classification
national banks in New York City, at the dates

October, for the last four years:

48 banks.

48 banks.

*

$
On paper with two or more names.
On
single-name paper, without
other security
On United States bonds on demand
On other stocks, bonds, &c., on
demand
On real-es ate security
All other loans

Totals

of the loans of the
of their reports in

October 2, October 1. October 2, October 1,
1874.
1875.
1876.
1877.

Loans and discounts.

Payable in gold
305-1
6105
307-8 641-9
315 5 636 7
32 5*3 623 2
3271 663-8
353-5 619*8
338-1 650-3
338-8 o91"9
338 4 674-0
34u-3 704-7
338 5 713 0
332-5 717*9
323-3 720 6
3181 7554
318 4 7319
300-2 693 1
i94 4 713-5
.291-8 705-4
294 7 694-8
290-0 768*3
*91*9 667-7

463

100-6
100-7
105-1
ico-i
104-5
103-8
99 9
103-9
101 9
95 4

Due

•

SUMMARY.

April 29, 1871 1,707
June 10, U
1,723
t.
Oct.
2,
1,767
April 19, 1872 1,843

44-1
46-0
470

ful

SUMMARY.
•

OTHER RESERVE CITIES.

April 29, 1871
14

|

Olawth¬er money. from agents. idRe mpt’n fund.

•

32-3

51*1
62-9
555
374
47-0
46*1
29 1
49 6
35-1

2, 18:6...

Apr. 14, 1877...

,

#

40-8
46-3
56-3
53 9

|

Speci .

OTHER RESERVE CITIES.

..

54
54
54
51
51
50
49
49
48
48
48
48
48
48
48
47
47
47
47
47
47

Amount. to deposit.
Ratio

NEW YORK CITY.

NEW YORK CITY.

April 29, 1811
June 10, “
Oct.
2, “
April 19, 1872
June io; “
Oct.
3, “
April 25, 1873
June 13,
“
Sept. 12, “
May
1, 1874
June 26;
“
Oct.
2, “
May
1, 1875
June 39',
“
Oct.
1, “
May 12, 1876
June 30', “

293*4
3(62
312 6
307 9
299-4
299 5
291-7
294-2
291-6
290 1

55-6
522

1-9
2-0
1-6

requi d.

Ml'ns. Mil'ns. Mil'ns. P. Ct.

«s

M

Des rve

Net

No.

!

reserve.

a>

j

1,482
1,497
Oct.
*2,
b537
g M16
April 19, VH 00
June 10, <4
1,6*26
(4

Classification of

R’s’rveheld

o1

Net

April 29, 1871
June 10,
<*

baofnks.I* deposit.

Dates.

202,800,000.]

reserve.

47 banks.

47 banks.

$

$

116,719,349 120,189,537 95,510,311 92,618,778
19.959,609 IS.555,100 16,634,532 15.800,549
4,721,635 4,931,674 6,277,492 4.763,448

51,453 682 50,179 384 58,749,571
278.081

868,160

536.802

5,735,’34
2,909,557

3.454,276
3,90b,602

4,681 570
1,652,944

48.376, *33
497,524
4,319.014
2,7t6,4.6

201.771,054 202,089.783 184,243.225 169,162,391

By reference to this table it will be seen that the total amount
city of New York on October
1,1877, was $169,162,391, which is much less than at the date of
any report for the last seven years.
On January 22, 1870, the
loans were $163,314,034, and on October 8, of the same year,
$168,082,085.
The average rate of interest in New York City for each of the
fiscal years from 1874 to 1877. as ascertained from data derived
from the Financial Chronicle and the Journal of Commerce of
that city, was as follows:
of loans of the national banks in the

18*4, call loan?, 3*8 per cent; commercial paper, 6*4 per cent.
Ib75. call loans, 3*0 per cent; commercial paper, 6*6 per cent.
18*6, call loans, 33 per cent; commercial paper, 5 3 per cent.
1677, call loans, 30 i er cent, commercial paper, 6 4 per cent.
The average rates of interest of the Bank of England
same
*
*

years was:
1874, 3'69 per cent.
lt-75, 3'23 per cent.

for the
.

*

*

1876, 2 61 per cent.
t 18X7, 2 16 per cent.

_

TAXATION.

1

The following table exhibits the amount of taxes paid by the
national banks to the United States, yearly, from the organiza*

Calendar years.

t Fiscal year.

!

4781

34781

BANKING AND FINANCIAL.
tion of the

system to July 1, 1877, the rate of taxation being one
annually upon the average amount of notes in circula¬
tion, one-half of one per cent annually upon the
average amount
of deposits, and a like rate
upon the average amount of capital

Cities.

U. S.

Years.

On circulation.

On

deposits.

On

capital.

Boston

1876.

1864
1865
1866
1867

$53,091 97
733,247 59
2,106,785 30
2,868,636 78
2,946,313 07
2,957,416 73
2,949,744 13
2,987,021 69
3,193,570 03
3,353,166 13
3.404,483 11
3,283,405 89
3,09!,795 76

1868
1869
1670
1871
1872

,....
...

.

1875
1876.
1877

;

.

$95,811
1,087,530
2,633,102
2.650,180
2,564,143
2,614,553
2,614,767
2,802,840
3,120,984

period,

were as follows:

Years.

On circulation.

$2,056,996 30
1,993.661 84
990,278 11
214,293 75
28,669 88
In,565 05
15,419 94
22,7ftl 92
8,919 82

,1866

I38G7
118 8

86
77
07

406,947 74
321,881 36

3,209,967
3,514,310
3.505,129
3,445,252

72

On

deposits.

$780,723 52
2,013 841 08
2,099,035 83
1,355 395 98

$5,435,2-32 59

432,306,827 S2

18*1

•1872

24.778 62
16.738 26
22.7'46 27

1375
1876.
1877

Aggregates..

-

$5,359,183 90

6,175,154
6,703.910
7,004,646
7,033,498
7,805,134
7,229,321
6,998,926

3 6
0-8
05

33
5'1
66
2-8
1-9

1-3
1-4

9-n

1*4

Q

4

1 ,r>

o-n

0-3

1 -fi

1*7

1*2

n-Q

IT

1

1

0

fi-O

13
2 0
1-1
2-3
1-8

0*5
2 6
23
2-5
1*3
3-0
2-8
22

1 *4

0*5
29
2 5
30
1-5
2 9
2 6
18

Baltimore

New Orleans

,

Louisville
Cincinnati
Cleveland

Chicago

Detroit

Milwaukee

3T

2-3
1*2
1-3

St. Louis
St. Paul

On

1*8
46
3-4
4-8

Totals.

$

$2,837,719 83

903,367 98
374,074 11

4,940,*70 90
3,463.988 <5
2,046,562 46
],8>i6.745 55
2,196/51 17
3.020,083 61
3,644,241 53
4,028,229 14
3.771,031 46
3,387,160 67
4,097,243 12
4,006,668 03
3,829,729 33

476,867 73
399,562 90
445,071 49

3-i

87,057 21
919,262 7?
976,057 61
736,950 05
916,878 15
1,102,241 53
981.219 61

927,661 24

year of

ttie

current

The

principal cities

was as

of losses
follows :

*

2*3
1

•

I

The Comptroller, in August last, issued a circular
addressed to
the national banks,
requesting them to report the taxes paid by
itliem under State and municipal
laws for the year 1876, and in
reply has received returns from all the banks
iu

sburg

3TI

5*l|
3 9.
30

national banks iu each of the
States, Territories and principal
cities, together with the rates of taxation upon capital, for the
year 1876.
Similar tables for the years 1807,1869, 1874 and 1875 will
be
found in the Appendix.
Statements of the amount of State and
municipal taxes paid by the national banks for the year 1866 were
also received, but were not tabulated
by States. From the data
for the years named, estimates have been made for
1868, 1870,
1871, 1872 and 1873, and a table has been prepared,
showing the
amount of national and State taxes
paid yearly by the national
banks, lor the last eleven years, as follows:

Ratio
Amount of Taxes.

U. S.

State.

Total.

$410,593,435

$7,949,451

422,804,666

9,525,607

$16,019,389

420,143,491
419,619,*60
472,956.958

9,465,652
10.(81,244
10.193,6*2
10,649,895
6,703.910

$3,069,938
8.813,127
8,757.656

433.718,418

7,004.646

493,751,679

7,<56.083

593.687,911
501,788,079

7,317.531

8,499.743
9,620,526
10,058,122

7,076,087

9,701,7:2

7,297.096
7,465,675

7,660,0.8
8,313,772

of

tar t<?

capital.

18,338.734
18.223,308
17,378.310

17,656/57.
18,5(9,973
15,047.652
15,504,3 )4
16,876,4 9

U. S. State. Total.
P. c.
19
2-2
2 2

24
2 4
24

17.375.653

1-4
1*4
15
15

16,777,819

1*4

P.c.

P.c.

2-0
2T
2T
1*7
17
17
1-8
1-8
20
20
2 0

3-9
43
4*3
4‘1
4T
4T
3T
32
3 5
35
3 4

The unequal taxation
imposed upon national-bank capital in
the principal cities of the
country is shown in the following table,
which gives the rates of national and State

cities named, for the years 1875 and 1870:

taxation, in the

preceding

1877.

$6,873,759 97
1,593,722 68
15-776 14
333,851 6
876,2 7 32
519,701 41

...

The number of banks wincn made
four periods of six months

$4,247 941 66
2.192,i 53 81
333,2 H 47
286,406 591
200,5 -7 74 i
286,259 47!
i

no

dividends in

each, together with the

their capital, is shown in the
divisions:

the

last!

j

amount of

following table, by geographical I
i

Six months

*

!.

ending:

i

,

Geographical
Divisions.

March 1, ’76.

Sept. 1, 76.

March 1, 77.

!

Sept. 1, 77.

1
*

No.

New Eng. States
26
Middle StaLs
5i
So ithern Stares.. 29
Western States. 113
Pacific States and
Territories
11
...

Totals

continuously

operation throughout the year, 2,046 in number,
having an aggre¬
gate capital of $488,272,782. From these reports and the returns
made to the Treasurer of the United
States, under the provisions
of section 5215 ol the Revised
Statutes, a table has been prepared
giving the amount of United States and State taxes paid by the

Q

◦

19
46
3-6'
5-2.

charged off by the

1876.

Balmnore

sold by the

ment.




1*2

year over those of the

amount

Philadelphia

$47,736,362 64

private bankers,
the last year, was $10,828,656 12, and from the date of
the imposition of the tax to the
present time, not including the
tax on bank checks, it was
$12G,98S,461 59. The total amount of
tax paid upon circulation
by the national banks to July 1, 1877,
was $36 827,770
27; while the whole expense of this office from
its organization to the same date was
$4,298,270 34, which, under
section 5173 of the Revised
Statutes, is payable out of the pro¬
ceeds of this tax.
The tax upou the national banks has
been,
from the beginning, collected without
expense to the Govern¬

....

13

35

New York
Boston

'during

.

2-2

Cities.

Pit

$9,994,302 43

$214,531 57.

banks in

From these tables it will be seen that the total
amount col¬
lected from the national banks, State banks and

.

1*6

5'3
40

O

months,$18,217,856 GO; total,$19,719,023
42—sliowingan increase

in the total losses tor the

$1,949,106; 1876, $1,882.941; and in 1877, $1,889,334:

1-72...

1*7
1*1
22

6’6
2-8
1*9

office under section 5212 of the Revised
Statutes.
A similar table;
now
presented, showing the losses charged off, as above
stated,!
during the years 1876 and 1877.
The table shows that the losses for
the first six months of the
year were $8,175.9GQ 56. and for the last six months
$11,757,-1
627 43; total, $19,933,587 99. The lo-ses for the
preceding year
wr-re, for the first six mouths $8,501,163
82,- and for the last six

during the
1874, $1,502,549; 1875,

1873
1-74...
1875
1876

Q

3 0
54

States and principal!
given, exhibiting the losses charged off by the national
banks during the two dividend
periods, of six months each, end¬
ing respectively on March 1 and September 1, 1876, the informa¬
tion having been derived from the
dividend reports made to this!

'The value of such stamps ordered from contractors
•fiscal years designated was as follows : In

429,314,041
451.994,133

19
3-2
21

was

$79,252,098 75

capital.

The number and value of two-cent check
stamps

.

.

1 4

In my report lor 1876, a table
arrauged by
cities

Commissioner of Internal Revenue,
yearly, cannot be ascertained.

18p6
1-67...«
1S6S
1869...
1810
18.T

Total.

1-6
3-5
34
07
0-5

19

New Orleans

Years. Capital stock

State.

is

17,947 67
5,4O0 16

;1870

306.781 67

312,918 68
375,962 26
385,292 13
3*9,356 27
454,891 51
469,043 02
607,417 76
632,396 16
654,636 96

U. S.

Washington

81
21
18
99
00
67
67
93
65
04
56
79

the Commissioner of Internal Rev¬
private bankers, during the same

1,438 512 77
1,734,417 63
2,177.576 16
2,702.196 84
3,643,251 71
3,009,3 >2 79
2,453,514 26
2.972 260 27
2.999,530 75
2,896,637 93

11869

5,146,835
5,840,698
5,817,268
5,884,888
5,940,474

Total.

1-4
2 0
3 0
2 0
T4

New York

$167,310 45
1,954,029 60

133,251 15

39
64
74

$37,055,144 53

The amounts collected
by
from State banks and

enue

$18,402 23

44
58
61
85
37
3,196,559 29

2,899,037 09

Aggregates.. $36,827,770 27

25

State.

Philadelphia
Pittsbu.g

Totals.

Albany

•1865

'

1675.

stock not invested in United States bonds:

,1864

i

Rates of Taxation.

-

per cent

235

Capital.

No.

Capital.

No.

Capital.

i

No

Capita’, j

$8,150,0 0 35
32.742,00 92
3,723, 00 3>
14,09 J,00 118

$9 os-.ooo;

1

$\7T7P o 32
64
10,700 02
4,135.0 0 34
14,778,300 129

£7,700.000

25
16,(35,725 73
4,39 V 00 27
13,873,U0; 106

1

,573,200.

4,236,0

01

10,737,(03
1

900,COO

14

1,959,000

14

34,293,3.0

273

44.057,725

lib

1.750,cor

13

1.535.000

40,452, 00 28 S

41,1c 6,2C0

DIVIDENDS.

The law provides, not
only that each national bank shall,!
before the declaration of
every dividend, carry one-tenth part of i
its net profits of the
preceding half year to its surplus fund,j
until the same shall amount to
twenty per c^nt of its capital, but!
that no association or
any member thereof shall, during the time;
it shall continue its
banking operations, withdraw, or permit toi
be withdrawn, either in the form of

dividends or otherwise, any!
portion of its capital, and that losses and bad debts shall be
j
deducted from its net profits before
any dividend shall be declared.1
The Comp’roller has endeavored to
carry out the provisions of
this law, and the
correspondence of the office shows that in many
instances he has prevented the declaration
of illegal dividends.
If a bank suffers a loss
greater than its accumulated earnings,
there are but two courses
open to it, so far as dividends are con¬
cerned : one is, to pas3 the
dividend, and the other, to pay an
iliegal dividend from the capital Btock.
The London Economist, in
commenting upon the proDer policy
to be pursued in the case of a bank
which has suffered loss, says:
One (course) is at once to estimate the
whole loss, to largely
reduce the present dividend, and to write tlie
necessary sum off
the reserve fund; the
other, to estimate the possible loss low, to
write off but little, and. above all
things, to declare as high a
dividend as possible
In all companies tlie rules of morality pre¬
scribe the former.
It is wrong not to
provide for plain losses,
and wrong to pay unreal dividends.
But in the case of a bank,
it is not.only wrong but
dangerous. Perfect explicitness in such
cases is the only means
of safety. The credit of a bank is its life,
and that credit can
only be maintained by deserving the confi¬
dence of the public,
by telling the whole truth, though it is not
favorable, and by acting consistently upon real facts, though they
are not pleasant.
If the largest of our joint-stock banks—the bank
of which it used to be said that it never was known
to lose largely,
or to be concerned in
any but good business—writes so large a
sum off its reserve
fund, and lessens its dividend by one half, no
other bank n^ed
“

fear to tell the whole truth and
nothing but the
Credit will never be good
as long as people believe that
anything is kept back. No doubt it needs manliness and forti-

truth.

BANKING AND FINANCIAL.
tude to tell the truth, when the truth is
not pleasant; but it is
and fortitude that confidence can be obtained
in common life, or that credit can be
preserved in the difficult and

During the year ending November 1, 1877, there were received
the redemption agency of the
Treasury $229,308,507 of
national-bank notes, of which amount $71,025,000 (about
thirtyone per cent) were received from the banks in New
York City, and
$82,659,000 (about thirty-six per cent) from Boston. The amount
received from Philadelphia was $14,859,000; from Baltimore,
$1,461,000; Pittsburg, $1,146,000; Cincinnati, $1,603,000; Chi¬
cago, $3,492,000; St. Louis, $1,024,000; Providence, $5,496,000.
The amount of circulating notes fit lor circulation returned
by
the agency to the bank$ during the
year was $158,626,000.
The
total amount received by the
Comptroller from the redemption
agency, for destruction, and from the national banks, direct, was
$75,850,063. Of this amount $6,811,790 were issues of the banks
in the city of New York, $6,176,437 of
Boston, $2,469,455 of
Philadelphia, $1,592,920 of Baltimore, $1,462,517 of Pittsburg,
$608,900 of Cincinnati, $814252 of Chicago, $446,280 of St.
Louis, $575,167 of New Orleans, $494,050 of Albany, and $494,600

only by manliness

at

trying1 transactions of business.”
During the past six months, 283 banks, with a capital
166,200, have | aid no dividends, and many others have of $41,largely
reduced the amount of their usual
dividends. Associations of
high character and standing always refuse to
impair their capital
stock under such
circumstances; and the attention of those banks
which are conducted
upon the theory that a dividend is
always
necessary for the maintenance of

the credit of their associations is
called to the excellent advice of the
leading financial

journal of

England, above quoted.

The subjoined table
exhibits the aggregate capital and surplus,
total dividends and total net
earniugs of the national banks, with
the ratios of dividends to
capital, and to capital and surplus, for
each half
year from March 1, 1869, to September 1, 1877.
From, this table it will be seen that
the average annual
dividends upon capital during the past
year were 8 93 per cent,
while the ratio of dividends to
capital and surplus in the same
period was but 7*09 per cent. The ratio of earnings
to capital
<md surplus

of Cleveland.
There were, on November

1, $256,473,911 of national-bank
outstanding upon which the charter number had been
printed, and $60,331 200 not having that imprint.
The following table exhibits the number and amount of

notes

during the six months

ending March 1, 1877, was
ST2 per cent;
during the six months ending September 1, 1877,
it was but 2*5
per cent. The ratio of earnings to capital
for the cur¬
rent year was but 5*62
per cent, from which it is evident that a
large portion of the dividends for such year has been made from

Grand

Carolus.

national-bank notes of each' denomination which have been
issued and redeemed since the
organization of the system, and
the number and amount
outstanding on November

1, 1877:

'

■

Issued.

Period of six

ending—

1

banks.

?!

Total

Numobefr

Total

net
Surplus. divid’nds
earnings.

Capital.

■3-3
«

c

•d P-

•Pg

s

A®

3f

ft sf
ft!

13 13
•H

0B

*
$
■
$
$
p.c p.c. p.c.
1,481 401.650,802 82.105.848 21,767,831 29,221,184 542 4'5C 6*04
1,571 416,366,991 86,118,210 21,479,095 28,096,934 5*16 4 27 5"7»
1,601 425,317,104 91,030,* 20 21,080.313 26,813,885 4*96 4*66 5*19
1,605 423,699,165 94,672,401 22.205,150 27.243,162 5* IS *•2* 5*21
1,693 445,999,264 98.286,591 22,125,279 27,315,311 4*96 4*67 5 02
1,750 450,693,706 99,431,243 22,859.626 27,502,539 5*07 4*16 5 00
1,852 465.676,023 105.181,942 23,827,269 30,572,691 5*12 4*17 5*36
1,912 475,916,683 114,257,238 24.826,061 31,926,478 5*22 4*21 5 41
1,955 488,100,951 113.113.848 24,823,029 83,122,000 5*09 4*09 5 46
1,967 489,510,323 123,469,859 23,529.998 2 *,544,120 4*81 3*84 4t2
1.971 489,938,284 128,364,039 24,929,307
80,036,811 5*09 4 03 4*86
2.007 493,568,831 131,560.637 24 750,816
29,136,007 5 01 3*96 4*66
2,047 497,864,833 134,123,649 24,317,785 23.800,217 4*88 3 85 4*56
2,076 .‘01,209,491 134.467,595 24,811,581 23.047,921 4*92 3 88 3*62
2,081 50 >,4*2,2 <1 '132,251.078 22,563,829 20,540,23 4*?C 3*57 32"
2X80 4 G.651,5.80 130,8:2,165 21.803,968 19,592,965 4*38 S-47 3 12

Sept. i, im

Mar. l, 1670
Sept. 1, 1870.
Mar. 1, 1871
Sept. 1, 1871
Mar. 1, 18-2
Sept. I,* 1872
Mar. 1, 1S73.
Sept, I, 1873
Mar 1, 1674
Sept. 1, 1S74
Mar. 1, 1875
Sept. 1, 1875
Mar. 1, 1876
Sept. 1, 1876
Mar. 1, 1877
Se-’t, 1, 1877

2.072

A tabular

4=6.324,860 1*24.349.251 22.117,110 15,274,02t 4 54 3*62 2*50

is

statement

subjoined, showing, by geographical

2.

5
l:».
20
5 ».
ICO.
WO.
10UO.

18(2.

73.

Geographical

1874.

for six months ending—
1875

1876.

1
Ma1.r. S1.pe t. Mar. S1.pe t.

L 1. 1. 1. Averag .

1. 1. 1.

Outst’u’g.
3,8 0,458

22.* 66 004

Mar. Sept. Mar. S1pe t. Mar Sept. Mar. Sept.

p. c. p. c. P c. p c. p.c. P c. p.c p c. p. c.
P c p.c. p. c. p c.
New Eng. States.. 5 0 4*9 5 1 51 4 9 4 9 4*9
4*8 4 4 4 0 3 9 3*7 4 6
Viddle States
5*1 4 9 5 1 50 4 8 50 5*0 4 8 5*2 4*6 4*4 41
4*8
Southern States
50 5 3 5 2 4 6 4*3 4*8 4 3 4*4 4*5 4 3 4*3 4*0
4 6
West. St ites & T.. 5 3 59 5*5 5 5 5*0 6 6 5 4 5*3 5*2
5 1

—

*

51

5*1

5*2

5*1

48

5 1

4 9! 4 9

5*0

4 5

5 8
4 4

6 9
4*5

Eng. States..

Middle States
Southern States...
West. States & T..
United States...

4*1
4*0
4*7
4*4
4*s

40
3 9
4 9
4*9
4*2

4 1
4*0
4 7
4*5
4*2

4 1
3*9
4*2
4*5
41

3*8
3*7
3 9
4 1
3*8

3 9
3 8
4*3
4*5

3*8
3*9
3*8

4 0

40

3 8
3*7
3*9
4*2
3 9

4*4

3*5
4*1
3*9
4 1
3 9

3 2
36
3 7

40
3 6

3 1
8 4
3 7
4 1
3 5

2 9
3 2
3 4
5 5
3 6

8 7

3*8
4’0

4

A

»9

REDEMPTION.

The

-

following table exhibits the amount of national-hank
monthly by the Comptroller, for the year ending

-

-

-

—.

NATJOr*VL-BANK NOTES AND LEGAL-TENDER NOTES BY
DENOMI¬
NATIONS.

The subjoined table exhibits, by
denominations, the amount of
national-bank and legal-tender notes
outstanding on November

I, 1877.

Amount of
national bank
notes.

Denominations.

$3,800,456
2,282,884
93,504 900
-

Twenty
Fifty
One hundred
Five hundr ed
One thousand

98,312,850
65.451,500
22,255,100
28,800,000
1,203.500
257; 000

*10,8C0
$315,884,990

5*5
49

Ratio of dividends to capital and su-plys.

2,282,884
501,90*

93

A table showing tlie number and denominations of
national
bank notes issued and redeemed, and the number of each denom¬
ination outstanding on November 1, for the last ten
years; will be
found in the Appendix.

..

United States

r

12,434,779 9,831,285 242.660,64 124,347,790 li8.312.850
6,776 ;53 3,503.5*8 3,272,725 135,525,060 70,070,56’' 65.454.500
1,079.78!
634,619
445,102 53,989,050 31,733,950 22,255,100
7< 7,317
479,317
288,000 76,731,700 47,931,700 28,800,Of 0
2 *,o*/2
17,615
2,407 10,0 1,000
8.817.500
1,203,500
5.667
257
6,411
5,668.000 5 411,o. 0
257,00»
*—10,800 *-f-l 0.800

Two
Five
Ten

divisions.

j

Redeem’d

One....

1877.

Issued.

5(77,762.291 37,482 654'823.07 ».650 507.197,660 35 881,99)
Add and subtract for portions of nates lost or
destroyed.

period:

Ratio of dividends to capital

Outst’d’g

115 2 54.9

divisions, the ratios for the last six years and the average ratio
for the whole

Amount.

Red’med

$
$
20,616.024 6.815,568 3.8’0,456 20,616,024 16,815,568
6.896,9- 8 5,755,526 *1,141.442 13,71*3 936 11,511,152
54,8 ’ 6.848 38,11 *,868 13,7(10,980 284.084,24 190,579,340

Ratios.

months

New

Number.

Denomination.

a

9

*

Amount
of

Total.

legal tenders.
$24 8* 6,459
24,600,544
59,032,148
G3 146,861

GO,83*.495
30,108,715

30,176,670
34,752,500
34,123,500 1
tl,000,000

$356,483,892

$28,606,915
26,883,4^8
146.437,048
161,459,711
126,290,995
52,363.815

58,976,670
35,956,000
34.880,500

1,010800
$672,365,882

Fractions of notes not

presented or destroyed.
t Legal-tender notes destroyed in Chicago fire; denominations unknown.

Section 5175 of the Revised Statutes provides “that not more
than one-sixth part of the notes furnished to
any association shall
be of a less denomination than five dollars, and

that, after specie
association shall bo furnished with
notes of a less denomination than five dollars”
; and section 5185
prohibits the issue to gold banks of circulating notes of a less
payments are resumed,

no

denomination than five dollars. The amount of such notes issued

rotes received

to

November 1, 1877, and the amounts received for the same
period
at the redemption
agency of the Treasury, together with the
total amount received since the
passage of the act of June 20,
1-874:

this limitation. The whole amount of one and two dollar notes
m circulation at the present time is but
$6,081,340, which is leas
than one eighth of the proportion to which
they are legally
entitled.
The email amount of these issues is attributable in
part
to the legal limitation ; but moro
especially to the time and labor
involved in signing them, as well as to the further fact that
legaltender notes of these denominations can be
readily obtained at
the Treasury.
The amount of such legal-tender notes now out¬

ff

Received by the Comptroller.

Received

coo

Mac
r

natio* for or surend. Noontae¬sf banksliquda¬
di

Months.

From baalnks reisu

1

-

!

j

ISF-I

Pm

*

S
63,715

“
“

85,630
29,419
13,320
29,962

“

574.110

June,
“
July,
August,
“
September, “
October,
*

213.645
84 705

7,498.800

10,165

3.7.’6,100

December,
January,

February,
March,
April,
May,

Total

**
1877

......

Keceived from
June 20, 1874,
to Nov.

3 7,785

8§f
«
ro

n

2
5
®

at

Total.

redemp¬
tion

agency.

1

$
5,231,900
4,027,400
4.732, *00
4,534,700
4,505,100
5,239,8(0
6,721,7*0

November, 1876

tional in tion.

-4-3 •*

6,427.300

29.100

2.942,400.

413,000

3.486,6 )0

$

96%650
185,380

S

1,577,172

1,525,715
1,634,151
1,629,811
235,644 1,040,273
230,107 1,218.986
318,6 0 1,718.938
387,If4 1,803,821
178,250 1,049.949
711.38
186,420
745.479
175,903
97,450
649,167
167,900
234,450

$
$
7,138,337 16.684.853
6,056,21*0 14.942.997
6,5*20,484 19,979,045

6,4*28,380 16.584,732
800,387 17,869.189
6.71^,915 20,976,0 9
9,333,-98 28,129,055
8,781,93" 87,8 9,179
5

6,811,764

17^905,054

4,6:4.06" 19.127,285
3,892,887 15,438X34
4,346,217 16,392,8 7

1,564,616 59,074,600 2,612,933 15,210,847 78,462,996 229,303,507

1,1876 tf,409,672 214,596,255 7,671,008 37 594,369 69,571,304 435, '86,046

total.. 10,974,28=1 273,670,855




10,283,941152X05,216

347,734,300 664,794.563

national-banking associations has always been greatly below

standing is $49,407,003. The amount of tens and twenties of
•national-bank notes outstanding is $191,817,750, and the amount
of outstanding legal-tender notes of the latter denominations is
$123,983,356. The amount of national-bank notes of the denom-,
ination of fifty dollars, and over, is $52,515,600, and of
legal-1
tender notes, $129,161,385.
Of the entire amount of legal-tender and national-bank notes:

outstanding,

more

than eight

per cent are

of the denominations of;

and twos, nearly twenty-two per cent of fives,
twenty-four
per cent of tens, and nineteen per cent of twenties.
Of these:
entire issues, less than twenty-five per cent in amount are of the*
ones

denomination of fifty dollars and upward.
Section 5182 of the Revised Statutes requires

that the circulat¬
ing notes of national bftnks shall be ‘* signed by the president or
vice-president and cashier thereof.’ The signature of at least
one bank officer is
necessary, as a check between this Office and
the issuing bank ; for, if the question of an overissue of notes
should arise, the signature of such officer would determine the
genuineness of the note. A number of banks, however, issue
their notes with printed signatures, and, in some
cases, with

io

BANKING AND FINANCIAL

lithographic

ones, 'which arc frequently so badly executed as to
excite suspicion as to their genuineness.
The Comptroller
recommends an amendment of section 5182 of the Revised Stat¬

utes, imposing a penalty of twenty dollars foT every note issued
without the written signature of at least one of the officers of tlie
bank.
*
*
*
*
*
STATE BANKS AND SAYINGS BANKS.

Section 333 of the Revised Statutes requires the Comptroller to
report to Congress “ a statement exhibiting, under appropriate
heads, the resources and liabilities and condition of the banks,
banking companies and savings banks organized under the laws
of the several States and Territories; such information to be ob¬
tained from the reports made by such banks,
banking companies
and savings banks to the legislatures or officers of the different
States and Territoriesjand where such reports cannot be obtained,
the deficiency to be supplied lrom such other authentic sources
as

may be available."
The laws of the United

States

require returns of capital and
deposits to be made to the Commissioner of Internal Revenue, for
purposes of taxation, by all State banks, savings banks and
private bankers. These returns have been procured from the
Commissioner, and the following table compiled therefrom in
this office, which exhibits the number of State banks, savings
banks, trust companies and private bankers, and their average
capits 1 and deposits, by States, for the six months ending May
31, 1877:

No. of
banks

States and Territo¬
ries.

Tar paid.

Capital.

Deposits.
On

On

capital. deposits.
Maine
New Hampshire....

66
12

109

$173.90.*
52,3-3
335,001
819,v3
3,127,387
8,804.673
2,869,64.

New England States.

557

11,272,273

452,620,717

20,153

133,679

153,832

New York
New York

336
466
14

11,061,7 C
45,785.79fc

148,889,7(8
271,948,412

22,846
69,121

106,65:-

129,493

12,529,7335 457,184

713

65

637.C0C
2,1 0,83:-

258.215
9.362

346-

12,vl6,78C
2,091,7 2

Washington

6)
41
10
15
40
1
10

30,203,615
31,*84,459
14.616,633
1,7-0,859

327,336
30,075
30,81£
126,035

Middle Slates

1,404

Vermont
Massachusetts

•

.

Boston
Rhode Island

Connectiut.

Albany
New Jersey

21
64
58

.......

City....

-

'

Pennsylvania
Philadelphia
Pittsburg

,

Delaware.

’

Maryland.
Baltimore
District of Columbia

,

5,018,826
717,411

>

$26,499,218
20,896,234
8,107,445
162.477,183
88.716,0(5
53,031,37<
82,893,262

Total.

$393

4,198

1,473

6.54

3,516
8,31

7,9h7

1>',490

22/(5

45,213

5,593

47j952

53^553
53,545

4,48v
28,753
4,798

26 83(
5

97,2868,671
24,48!
2,116

,

11,405

623.37r

566,984

1,709
1,196

25,023,652

8,709

5.917

7,008

595,359

3,657.830

City showed important changes during
and of their
the capital
stock and the unprofitable character of banking business induced
a number of the
larger institutions to reduce their capital, and
at the close of the year the capital of the Clearing-House banks
was $07,43),200,
against $77,935,200 at the opening. Two
banks, having $1,500,000 of stock, went into liquidation, and the
balance of the decrease was caused by a reduction in their capital
stock by several of tho^ larger banks.
Th9 circulation of the
Clearing-House banks on the first of January, 1877, was $15 268,700, on the first of October $15 724,450, and at the close of the
year $10,657,800.
In view of the large amount Involvei in
commercial failures during the year, and the relatively small
profits derived from banking business, the standing of the New
York City banks was, upon the whole, well maintained, and a
belief in tbe c-.reful management of most of the banks, both
State and national, did much to inspire confidence rn the com¬
munity in this period of financ al depression.
The fallowing were the totals of tbe weekly statements of the
New York City Clearing House B*nks for each week, of the year;
the figures representing in each case the average for the week
ending at tbe date named :
the year 1877, both in the amount of their capital stock
The severe burden of taxation upon
circulation.

$4,805
7,(2!
4,912

124
714

4,104,003
,

$4,412
6,960

NEW YORK CITY BANK MOVEMENTS.
The banks in Ne w York

3,S25
2,0! 5

15
86 v

Jan. r.
“
3.
“
2».
“
27.
Feb. «.
;0
“
17.
•

“

“

“
“
-

8,506

•*

“

“

c

Virginia

585,566,186 154,103

620,222

,

21,698
770

4,3* 8
3,532

July 7.

6,826
5,806

6,809,658

8,182

16.138

1,455,910
574,4'1
1,003,105

3,917.534

24,320

3.632

9,794

13.420

872,2.37

1,436

2.181

1,095,859

2.508

3,617

4,392,147
47,000
1,034,733

4,363,519
271,057
1.747,031
1,413,033
49,915
7,310.099
4,691.428
316,619
0,626,53-'
6.041,033
3,019,790

10,980

2,597
10,718

5,105

;

Mississippi..........
Louisiana

New Orleans
Texas
Arkansas
.

Kentucky
Louisville
Tennessee

'

5

-

20
28
2
23
107
15
13
17
33

1*204.396
54,000

3,558,192
3,494,002
258,333
7,‘£79,957
5,404,361
lr7t8,147

92
2.458

2,274

“

••

“

20,463
1,500

15.103

34 041
28 476

7,549

135

11,532

Sept. 1.

125

260

14,o0>i
12,228

22,943

558

942

17,478
13,373
3.983

16,560

“

“
“

Southern States
Ohio
Cincinnati

524

48,805,597

83 961

116 822

200,786

6,334.477
2,(08 549

16,640,560
9,016,478
12,767,959
11,128,880
17,299,692
15,130,791
4,914,596
5,670,
3.76\813
6,328,9)9
8,730,477
2,508,685
11,223,423
22,691,281
3,116,289
1,184,932

14,051

40,293

3,436

20,231

54.3 U
23,667

23
9

Cleveland
Indiana
Illinois

8.6,29li

1,65,
13,051
12,270
9,568
6,367

146
319
42
145
18
90
12
279
71
180
46
114
39

Detroit

Wisconsin
Milwaukee
Iowa
..

Missouri
St. Louis
Kansas

Nebraska
Western States.
Oregon

California
San Francisco.

’

1

Colorado
Nevada
Utah
New Mexico....

Wyoming

4,1-36,153
2,605,763
1,240,932
1,389,348
672,065
5,178.613
1,168,965
3 8(6,229
7,530.583
1,725,234
465,661

1,790

Chicago

Michigan

Minnesota

34,995*83!

257

.V

50,9 9,434

8
SI
38
30
19
S
4

610,724
12,IIP,9a*
26,902,567

1.349,112
41.522,335
65,865.07C

588.858

971.936

417,039
179,521

1,545,409

1,412
1,0431

56 7

36,342
93 9S7
16.182

5,626,955
5,483.644

4

3

Montana.

8
4
2

1

Washington
Arizona

53 573

12,545
-

32,994
18/53

9,414
15,822
21,661
6,135
28,058

12,604
17,228
84,205
8,892
36.506

16,928

56,281
7,79

1,114

2,962

11,830
4,078

311,61.*

454,707

1.418

3,373

30,113
61,308

68,5?7

4,791
98,700
184,342

140.321

103,031

Oct.
“
‘

222 312

93,800
817,696

10,000

£.000

419
14

130
141
85
258
556
25

12 <,084

2,43"
3,8! 4
1,470

3,902

91
247

181
436

Totals.,

41,296,610

112,550,090

4,501 223,503,171 1,351,867,650
*

*

*

*

97,021

351
231
794
13

201,528

46S,333j 1,416,866
*

4,907
1,919

6
13
20.

17.
£4.
Dec.. 1.
“

“

“
“
“

8.
15.
52.

2i).

88

301,549
1,885.199

*

*

concluding this report the Comptroller takes pleasure in
bearing testimony to the industry and efficiency of tbe officers and
clerks associated with him in the discharge of official duties.
John Jay Knox,

Comptroller of the Currency.

Cir¬

Deposits.

culation.

$

Tenders.

Aggregate

$

Clearings-

254, S 10,100 3.8,37!
254,113, ,00 39. 3 ,400
252.411.900 40,9 4.900
253.156.100 40,187,000
8,305,100
254,011,800
256,817,110 35 616.600
254.0.74,400 32,065,610
258.751.700 29.374.900
25.*,100,400 28,499,91 0
258.365.700 27,548,300
259.257.100 24,607,970
259,6.0,200 22.391.200
259.928.700 20.190.600
260.198.800 22.507.900
259.239.700 19,7b8,6( 0
257.609.700 20,254,301)
255.733.800 20.534.500
258,013,900 23.119.100
256.519.600 23.272.600
255.894.700 21.867.200
253.506.500 21,348,70.)
250,754,410 1», 841,500
251,673,000 19.441.700
250.687.500 18.352.100
250.416.500 16,20), 000
251.655.600 17,453,000
253.323.800 21,259,30)
2:2,452,7(0 19,88 r^oo
250.932.200 14,979.809
249,169,60-0 13.984.100
49,167,800 14.135.600
245 377,210 15,030.700
243.896.300 13.449.700
244.899.600 14,259,000
243.778.700 16,030,100
24.3.920.600 19.961.600
243.795,000 19,913,000
243.976.400 19.274.700
241.847.800 16,65 .’,300
238.470.900

16.551.700

238.229.600 17.093,300
238.193.800 16.519.900
236.287.400 17,3»2,40O
236.216.600 15.935.900
235.968.300 18.764.500
236.308.300 19,456,830
235.329.800 19.767.800
238.429.600 18,324.000
238.578.200 18,995,000
237,504,(00 19.566.800
239.764.200

19.674.600

239.173.900 22,122,400

From t

22°.783.6-r0 15,50 i,4 0 401 556,'51
35.2 d.20
40 ,3')v.3l6
3‘,0% 00 223.8 8.800 1 ,*17,30
0,123,800 22 42.8 0 15,491, * 0 42-,o 8,210
42.251.200 230, 2\ 0 15.4).% 09 421,311.310
43.305.100 231,091,709 15,568,5(0 4-8,232,' 5 •
43.786.700 242,035,103 15.635.400 44 .185,463
45,8)8.2 0 232.658,803 15,554,7)0 448 915,250
44*713,300 229.311.200 15.516.300 338.749.247
43.227.600 227,100,000 15.536.500 454,375,119
42,768,630 223.187.400 15.585.400 487,941,28)
43.280.100 221.817.900 15.568.900 391,496,367
44,454.000 221,820,000 15.732.100 401.450,871
44.353,000 219.738.900 15,797,8 0 338.067.940
42.257.200 218,246 400 15.931.900 508,314,089
44.267.900 219,986,906 15.964.490 439,328,170
45,896,-00 230.381.400 15,984.000 412,451.079
48,865,000 22^,901,3 0 15.996.100 416,t09,64fc
50.441.700 226,957000 15.995.900 467.499,395)
5!.066,TOO 227,226,000 16.068,700 432,840,459
52,437,'00 2 £6,645.400 16,069,9.10 893 161,605
53.570.400 225.432.600 16,069,000 384,639,047
55.899.700 223.481.600 16.143.700 333,535,818
55,078,100 223,73^,500 16,162,000 404.145.247
5*v363,600 222,665.800 15,(71,000 389,281,v53
53.255.600 223.316,100 15,765,600 365,825,915
60,359.530 226,488.20 > 15.643.200 327,793,221
5^,147,000 231.228.600 1 ,558,100 345,922,956
53.809.200 2 v9,088.300 15.66 .400 394,344,) 87
5",499,7C0 222.813.600 15.546.400 400.708,240
57.3 5,200 221,064,900 15.517.900 968,914,804
54,£62,100 •!19,166 600 15,585 300 390,467,627
53,094.800 215,431,604 15.689.500 340,0 52,240
52,698,000 213.414.600 15.545.900 344,757,974
50,789.000 213,026,30-3 15,515,590 420,915.000
48.130.600 209 450,700 15.383.300 400,915,000
45.303.900 21p,574,100 15.568.400 397,270,385
44,045,900 208,582,403 15.577.100 379,235,693
42.454.400 £36,724 100 15.596.100 405,032,278
41.975.500 209.771.200 15.724.490 419,366,185
41,402,000 197.853.400 15.990.200 428,838,63
40,316,800 197.171.600 13,681.030 485,182,249
39.949,300 195.561.500 16.230.300 478,165.840
39.235.100 196,848,700 16,726,000 437,8S7,45?
39,-31,90 192,364.90) 17.156.800 453,025,653
38.503.400 193.557.300 17.729.200 353,005.167
39.382.900 19 »,501,5(>0 17.844.900 401,980.936
3J,949,30 I 196,234,! 0) 18.100.500 417,104,418
40,579330 194.961.500 18.110.300 369,512,964
38.478.700 196,912,303 18,208,303 488,942,229
37,562 900 195.8 6,400 18.676.700 426^85,792
36.067,500 194,842 500 19 93,930 412,4! 4,646
35.300.500 1 7,711 800 19.657.800 324,336,6.0
,

totals of the New York

City Clearing-House state¬
given above, we have as a de¬
duction the following percentages of reserve held (specie and
egal tenders) in proportion to liabilities, and the bank rate of
interest each week on call loans, prepared by Mr. (kmp, manage*
of the Clearing-House :
e

ments for each week of the year,

V*

Date.

Per cent of O
Reserve to 2
Liabilities.

£
4)

«

Date.

Per cent of
Reserve to

Liabilities.

ss

492

1,850

Iu




22.
29.

“

|

Jan.
6

(

226

s-

15.'

“

•

Pacific States and Ter¬
ritories

.

105
386

40

*

27.
Nov. B.
••-10.

73,228

4,0 9

587 8-. 4

56,607
34,167

&

36.3S7

23,426
12,286
14,676

3,190
1,406

‘

19 593

152,325,060 113,092

55.48!*

Idaho
Dakota

11,940
23,336
41,303

2.250

2,757
8,448
16,947

14

•

vi.
“
2>.
Aug. *).
‘
11.
*•
18.

8,640
8,235
■

12

“

678

3,407,110

24
14
19

Georgia
Florida
Alabama..

21.
28

19.
20.
Jane 2.
“
9.
1».
“
23.
“
30.

774,325

78

West Virginia....
North Carolina
South Carolina

14.

May 5.
••

85,028,770

10.
17.
21
31.

April 7.

33

8,144

£4

Mch. 3.

26,76

18

Legal

Specie.

-

73,469
35,8r6

899

18,051

Loans.

14

Feb.
*4

0.
13
20.

27'
S.

10.
17.
It
24.
Mar. 3.
44
10
t<
17.
44
24.
v<
31.
April 7
41
14.
41
21.
44
28
44

3117
32 07
33-40
*3 50
33 09
32-24
8138
30 26
29 £7
29 ‘ *5
2851

23'14
27-40
27 22
27-14
27-99

29C5

7
7
6
5
5
5
5
4
4
4
4
4
5
5
5
5
5

May 5.
*4

12.
10
44
26.
June 2.
.

44

46

9.

44

16.
23.
30.

44
44

July 7
44

„44
44

14.
21
28.

Aug. 4
44

«»
44

11.
18
25.

.

30-28
30-f5
30 61
3102
8lfl
31-06
8F31
31*15
32-14
32-29
3175
30-38
3014
2913
59-47
28-89

28-46

Roatef

4
4
4
4
4
4
4

Interst

Liabilities.

o a>
® ®

Wh

1

Sept. 1.
4.

8
15.
44
22.
4ft
29.
Oct. 6.
44
13.
44
20.
44
27.
Nov 3.
ft»
10.
44
17.
44
24.
Dec 1
4»
8
44
15.
44
21
44
20
44

3X

3%
3 )4
3)4

.

%

3%
4
4
5
5
6

Per cent of
Reserve to

Date.

•

:

28 54
28-86
28 "53
27 77
27-08
27-10
2692
26 66
2686
2V48
27-70
27 45
27 86
27 39
26 72
26-63
26 03
2641

ft

6
6

7
7
7
7
7

7
7

7
7
7

7
7
7

7

1 1

BANKING AND FINANCIAL.

COMMERCIAL AND FINANCIAL AFFAIRS IN
LONDON.
correspondent of the Commercial and Financial
Chboniclb, reviewing the year 1877, stated that numerous causes
interposed to prevent the year 1877 from beiDg a prosperous one.
On all sides there have been complaints that trade was bad, anc
in financial circles there has been scarcely any improvement,
The London

compared with the depressed period which had existed in

even

the former year.
In 1876, so great had been the contraction o:!
business that the Bank of England had accumulated in Septem¬

supply of bullion amounting to £35,017,529, while the
of notes and coin was as much as £22,240,069, being 63*1!.
per cent of its liabilities. The year 1877, however, has not been
remarkable for such astounding, and certainly unsadsfac ory, re¬
sults, en 1 although it has been far from a year of prosperity, yet
there has been less unemployed money, and capitalists have been
ber

a

reserve

:

At the

able to obtain somewhat better terms from borrowers.

tailors, 348; butchers, 320; private person©, 311; boot and shoe
makers, 303.
“The number of failures during 1877 in the United Kingdom
has been 11,022, of which 2,172 are in the financial, wholesale

manufacturing branches of trade, and 8,850 in retail trades,
professional pursuits, builders (see also contractors in other list),
publicans, among the working classes, &c. Of those who failed
in the wholesale trade, there were: In London, 456 ; Liverpool,
81; Manchester, 134; Lancashire, 144; Yorkshire (excluding
Middlesbrough and Hull), 324 ; Birmingham and Midland Iron
District, 189 ; Newcastle, Middlesbrough, Hull, and district, 129 ;
Bristol, Cardiff, Newport and Swansea, 86; Provinces, 457;
Scotland, 189; Ireland, 83. The total failures in 1866 were
1,610 ; 1867,1,564; 1868, 2,145 ; 1869, 2,815; 1870, 1.351 ; 1871,
1,122 ; 1872, 1,826; 1873, 1,745; 1874, 1,751 ; 1875, 1,720; 1876,
2,087 ; 1877, 2,170. During the last five years, from 1873 to 1877,
the various branches of wholesale commerce show the following
proportion of failures ” :
and

1873.

Agents, commission, yarn, Ac
Bankers, joint-stock banks, foreign bankers...
Boots and shoes
Brewers

Cigars and tobacco—

1874.

1875.

1876.

1877.

177
5
m
m
13

U8

75

217

5
91
rr
4
6
66
87
72
8
20
38

3

192
2
116
23
12
6
147
44
6*
15
42
48
4
20
44

20
02

28
6

2)
18

243
12
S8

280
7
21

1
slight Cement, asphalt
28
Coala
improvement this year, compared with 1876, the rate has been a Contractors
20
64
Corn merchants, millers
low one and beneath the average, while the Bank of Englanc
21
Cotton and colonial brokers
has held a position of much less strength, the diminution
Cotton aplnners and manufacturers
44
27
Curriers, tauners, leather merchants
in the extent of its resources being, however, largely due
Discount and bill brokers
5
to the want of enterprise in this country, the result of which
Druggists, wholesale, and manufacturing chem¬
17
ists
has been that considerable supplies of capital, principally Drysalters. oil, color
«2
27
foreign, have been withdrawn from the London market for Dyers, bleachers, finishers
4
Electro-platers
omployment in more remunerative quarters. To obtain m r- Engineers, founders, iron, metal, hardware
manufacturers and merchants
179
lucrative employment has, no doubt, been a task of much diffi¬
Financial agents
6
17
Glass, lead, and earthenware...
culty, as nowhere has trade been reported good, so many impedi Gunpowder
17
anents having stood in the way of active business.
In spite, Hats', caps, straw hats
4
Hops
:
however, of the withdrawals of money for foreign employment, Jewelers, wholesale
21
Manufacturers of woolens, worsted, elastics,
large supplies have remained here, and for the year & higher
180
silks, hosiery, stuffs, &c
22S
average than 2 per cent cannot be reported.
The abundance of Merchants
Provisions
’
88
idle money is of course due to the limited trade requirements,
16
Rope, sails
81
Shipbrokers andjownera
and to the absence of financial enterprise in the shape of new
8
Shipbuilders
loans and public companies. Financially, business has been as
Stationers, wholesale, and paper manufacturers 20
1
Sugar refiners
bare In 187/ of new features as the preceding year; but some
26
Tea, coffee, groceries
Timber.
?
27
Tevival has taken place within a few days of Christmas, and the
Warehousemen, importers of foreign goods,&c. 129
close of the year would seem to prognosticate well for 1878.
106
Wines, spirits
13
Woolstaplers
Undoubtedly the great impediment to a revival of active Woolen and cotton wastes
40
same

time, although the value of money thus exhibits a

s

....

business in 1877 has been the Russo-Turki.-<h war.

The

war

in

elf, heavy as have been the sacrifices on both sides, has not
restricted business, the real cause affecting our own trade, as well
as the commerce of other nations, being the uncertainty in
it

question is undoubt¬
edly a momentous one, and one which affects the country to a
very important extent. This is a political question, and does not
require to be discussed here ; but suffice it to say that the mer¬
cantile community have throughout the year been very anxious
as to the terms of settlement; as an abuse of victory, should
Russia eventually succeed in her ent rprise, might necessitate
action on the part of England which would not improbably bring
about serious complications and prolonged disturbance.
Evi¬
dently the commercial classes, as long aB the war continues, have
but one course to pursue, and that is a policy of caution.
It is
imperative for them to trade within their means aud to shorten
credit, so that, should the day of trouble arrive, a heavy fall in
prices would have the smallest effect possible. There is no
doubt that merchants have for a long time past been operating
with much* judgm nt and discretion, but there has been a feeling
that, setting aside politics, the air is free from troub e, all doubtful
firms having been eradicated by the severe pressure which has
been put upon them since the suspension of Collie & Co., in 1873.
No doubt a difficulty of considerable moment exists at the present
time which cannot be regarded as of good augury for the future,
viz., the tendency of minor firms, of respectable standing, to fail
from want of facility in procuring advances.
The want of confi¬
dence of the last few years has been eminently favorable to large
firms whose position and reputation are beyond criticism or
doubt; but, if business is to be drawn towards the large at the
expense of the minor firms, competition will be diminished, which
would prove eventually to be disadvantageous to^the country at
large. This is one of the evil results of diminished confidence,
and the process of change is always a slow one.
Mr. Richard Seyd communicated to the London Times the
following statement of failures in 1877 and in the four preceding
years; the figures are very instructive, as they indictte which
which the future is involved.

The Eastern

branches of business have suffered in and since the crisis of 1873.
In

retail

trades,^ &c., the largest number of failures was in
following classes, viz.: Grocers) 1,032; publicans, 819; build¬
ers, architects, &c., 618; drapers, hosiers, &c., 492; farmers, 477-

the




•

•

•

97
16
68
90
31
80
8

10

25

68
27
6

89
28
5

223

235
8
18

12
20

t
•

•

•

•

•

•

•

•

•

28
*
25

v

12
2
81

28
5
55

194

t...

„

80
21
8

192
247
59
16
49
8
15

151
216
58
21

208
87
15
89
12
85

42
10
87
*

26
27
117
87
S3

25

ia
21
110
121
8
12

#

•

*8
47
136
12S
15

83

103
SI
12
%
135
73
75
9

55
3*

•

•

•

21

8
29
190
205
50
26
36
11
40
1
17
57

120
109
4
82

During the greater part of the year, viz., for a period of nine
months, the Bank rate was only 2 and 3 per cent, the former rate
laviDgbeen the quotation from January to April, and part of July
and August, and the latter rate in May, June and September.
!?or one week at the end of July and the beginning of August
the rate was 2£ per cent.
In the autumn/ however, there was a
renewed demand for gold for export, and in discount circles
much perplexity prevailed.
The supply of gold rapidly declined
:'rom £24,882,148,on September 5, to £22,278,557,on November 7,
and the Bank of England was compelled to keep its minimum
rate of discount at 5 per cent for nearly two months, in spite of
the fact that the open market rates of discount were from 14 to
2 per cent beneath that quotation.
It was maintained in many
quarters that the Bank rate had ceased to be effectual, but it must
be borne in mind that the times are exceptional, and that full ef¬
fects could not, under the special circumstanoes, be produced. The
5 per cent Bank rate did, nevertheless, exert some influence.
It produced caution, and it may possibly have induced the
German Government to pause in making additional purchases of
gold, though of this no proof can be brought forward. At all
events, Germany was not a buyer of gold during the period that
the Bank rate was at 5 per cent, and only purchased some
supplies in the open market when a liberal arrival from
Australia took place, and when it was evident that a reduction
in th9 Bank rat6 could not be long delayed.
If 5 per cent had
the effect of checking the demand for gold, and of preventing
the position of the Bank from being further impaired, an object
of considerable importance was attained.
The Bank gained
strength, more, indeed, relatively than actually, but the propor¬
tion of reserve to liabilities Tose to 47 per cent, which, consider¬
ing the limited requirements of the community*, has long been
regarded as satisfactory, a proportion of 33 per cent being looked
upon as adequate.
Perhaps when we bear in mind that the
London money market has for some time past assumed a position
of supremo importance in the money markets of the world, such a
reserve is inadequate; but if we are, in a great measure, the
bankers of the world, and the present constitution of the Bank,
from the want of a better, is to remain unaltered, the financial
position, present and prospective, must be watched with keen
attention, and the twenty four directors of the Bank of England
ought to be able, from their own positions as merchants or

12

BANKING AND FINANCIAL.

financial men, to forecast the
future with
accuracy. We believe, though
many entertain
that the directors of the
Bank of

some

a

pretension to

LONDON

BANKERS’ CLEARING-HOUSE
RETURNS.
The returns of the Bankers'
Clearing House for each Week in
the past three
years have been as follows :*

contrary opinion,

England do

not act with the

promptitude which the times demand.
They are too
slow in
advancing their terms for discount when a risefrequently
is

inevitable, and they

are

when the open market is
of

dilatory in making
a

been

war

disposed

reduction,

a

formidable rival.

rapid change, and the Bank

when the

1875.

must fall in with

a

disappear

as

long

pro¬

Jan.

3
10.
17.
“
24.
“
31.
Peb. 7.
“•
14.
M
31
“
28
Mar. 7.
“
14

2
2
2
2
2
2
2
2
2
2
2

“

“

“

21

“

2
2

28.

April 4
M

2
2
2

11.
18

“

“

25

2

Open

1*

May

1X31*

1X@1X
1X12UX
,1 X3HX
1X(S)1X

9
16.
23.
30

“

June 6
“

1X0)1 X
1X0)1 X

ix@2
1X&2
1X0)2
IX

1XOHX
IX

1X0)1 X

Rate.

2.

“

“

ixonx

Bank

2817.

Market.

2
3
3
3

2X@2X

3
3

13.
27.

“

3
3
3

July
“

4
11.
18
25.

“
“

Ang. 1.
-

8.
15.
22.
29

“
“
“

1877.

2XO)?X

2D.

“

Open
Market.

2
2
2
3

2
2
2

3

2

Sept. 5.
“

2XO)--;X !

“
**

12.
19.
26

2X

Oct.

2XO)2X
2X02X

10.
1?.
24
“
31.
Nov. 7.
**

2X

“

2XO)2X
1X0)1 X
IX

“

1X0)1 x

“
“■

1X@1X

!

1

ix

ixoix!

IX "IX
IX
2X

3

“

Dec.
“

*•

14.
21.
28.
5.
12.
19.

“

26.

1

“

“

as no

possible.BULLION HELD BY BANKS
IN OTHER CITIES
THAN LONDON.
The

Open

Rate

Market.

following

2.X

week in 1877

2X@*X

The

following

in 1877

are

2X&2X
3XOHX
1

4J*
4X

January

3X®3X

U

3^4

4
4
4
4

3XO/X

3X

24

*4

c

31

February

3X

7
14
21
28
7

4

•

44

3X
3X
3X

44

March
4

RETURNS.

4

h

the Bank of England returns for each week

11
18

44
44

Public

culation. Deposits. Deposits

Jan.
£
3 ?8,961,384
10 26,684,775
17 28,386,550
24 *7,970,784
31 27,908,554

Feb

7 28 143,461
14 27/39,295
21 27,457,610
28 *7,473/99
Mar
7 27,649,852

14

21

27,322,505
26,961,195

28

28,286,902

Apr
4
11

2<, 712,977

18
25

415,030

28,934.310.

May
2

28,385,390
28

16
23
30

Jan

£

£

546,885
28,479/10
28 353,781
27,955,420

28,289,281 7,243,548 31,703,873
27,7*9,660 7,914,651 21,133,08
27,406,290 8,133,581 21,888,742
27 27,994/45
8,760,469 20,957,739

J’ly

1
8
15
22
29
5
12

23,774,340 5.727.634 24,894,691
28,767,460 3,761,325 26,371,322
23,696,090 5,351.834 24/92,345
23,460/75 4 904,907 23,659,007

27,900,545
28,159.6-35

19
26

Oct

27,706,770
27,535,275
27,393,950

8 28.760,Q?5
10 28.357,190
17 *8 304,500
24 27/91,175

Nov
7
14
XI

23

Dec
5

12
19
26
—

£

£

14,59 >390
14/94,912
14,317,794
14,591,076

Bullion.
£

44
44

tion,

'

44

June

P.ct.

44

July

27,230,026 45-88
14,057,356 26,650,241 4639

4*

89/76,000
90/39,000

28,112/45

27/25,000
27,939,000
27/61,000

18,445,792 12,983,171 26,741,531 45-00
18,027,819 12.172,60* 26,071,538 44-63
18,271,813 12,060,017 25,606,877 44 00
"8,196,144
4,302,42*1 23,013,944 14,910,568 18,519,555 12,119,949 25,323,159 44-24
12,128,674 25,029,219 43-83
4,315,084 22,716,354 14,734,508 19.601,321
U,72\513
4/9,919122,739,447 14,174,56b 19.907,560 11,778,58 24.882,148 42-59
24, >85351J42 55
4.879.243 22,224,951
14,121,191 19,684.015
5,274,794 21,736.577 14,121,093 19,582,932 11,899,404 .*4,432,679 43‘36
11,89: ,257 24.289,2.7 43*51
5.026.591 20,805,934 15,693.662
19.629,110
5,039,600 20,629,63' 15.718.604 19,104,149 9,721,173 23,481,193 37-11
9,431,1*6! 22,783,316 35-49
5,117,500 21,801,793 15,718.* 0*
3,938,276 21.400,826 -.5,143,604 18,575,244 9,478.439122,782.939 36-27
1S5'1,766 10,002,505 22,693 6*0 38-36
4,030,473 20,596,094! 15.123.604 *8,633,15 9
678,797 22,791.442 37-12

27,638,130 3 721,946:20,530,603
14,498,601 18,?66 946 9,640,427 22,278,557
35-95
17,834,96* 9,99-*,59* 22,293,467 41*18
17,408,083 10,660,990 22,569.850 44 44

17,054,3:8 11,647,182 23,311,31?
27.375,240 4,656.903119,629.343; 13,182.326
17,475.305 11/04,803 23,6 8,003
26,447,001. 5.3b0.000.2'\376.383|
26,715,441 5,702,458 20,3’ 5,8i 13,2Vvr>20 17,907,686 12.482,790 23,930,270
8j 13,335,957 17,960,39b 12,677.715 24,092 265
*6.7 5,441
5,942,8-9120,183,367* 13,“83,176
18,441.363112.234,085 24,032 070

47-i2
47-08
47-90
48 10

46-28

13,660,000
13/00,000
13,660,00)
13,661,000

13/61,003
13/61/00
13/61/00

82.882,000

82.615.000

7,125,000
6,414,000
5,874,000
5,700,000
5,508,000
4,882,000
4,478,000
4,036,000

13,661^000

4,300/00

13/62,000

3,952,000

13/62,000
13,662/00
13/52,000
13,662/00
13,662,000
13,662/00
13,662,000

4.050,000
4,106,000
4/22,000
4/54,000
4/70,000
3,968,000

3,888,000
3/70,000

13/62,1*00
13/62,000

3,242,000
3,490,000
4,252,000
4,252,000
3,716/00
2,996,000

13,662,000
13/62/00
13,662,000

13/62,000
.18/62,(00
13/62,000
13,662/00

13,662/00
13/62,000

13,662,000
13,662,000
13,662,000

2,798,000
2,828,009
3,006/00
2,690,000
2,352,000
•3.206,000
3

992,000

3.982,000

13/62,000
13

3,854 000
a 330,000

13,662,000
13/62,004
13/62,000

3,765,000
3,418,000
3,302 000
3.464/CO
3,188,000

662,000
13,662,000

13,662 0 0

13,662/00
13,662,000

24,057,000
24,154/30
24,175,000
24,429/00

83,117.000

8,194,000
8,036,000
7,662 000

13.682/00 ’

23.316,000
23,325,000
23/79,000

83.483,000

19
26

•

23,114/00
23,369,150
23,389,000
23,419,000

83,999,000

12

•

23,595,000

85,91.2,000
85/51,000
85,291,000
81.975,000
84,466,000
84,258,000

14

.

24,271,000

87.724,000
66.595,000

44

.

24,474,000

88,503/00
.

•

27,206,000
27,208,0(0
26,640/1 0
26/48,0C0
26,769/00
24,511,000
24/11,000

88,390,000

.

4«

•

88,705.000
68,497,* 00
68/04/00
88,44/000

14

u

27.396,000
27,504,000

88,504,000

44

14,989,311 20,479.201 13,174.000 26,946,
S40!42#
16,089,088 18,289,67)* 13,911,79?
15.8>9,0f 1^249,151 14,031,602 27,679,257!45-70
27,629,692 46*32
14,9S9,08S 18,179,016 13,569,230 27,029,505147-03

27.397,000

87,587.000

44

27,294/75 3 422,248; 21,177,375'
04
26,908/60 3,662,313 19.997,07V 14,098,*572
26,764,365 3,864,484 20.376.4S5 13.17S
13,5.8,372




27.6* 8.000

90,862/00
91/64,000
00,982,000
90,150.000

44

15.214.859 18,444,770 14,209,534 28,615.824 46 93
15,214,859 18,510,050 13,832,353 26,826,3981

27,858,000

91,225/00

44

15.214.859 19,379,635 12,139.463 25,225 001 41-25
15,214/5' 18,663,592 13,031,79* 25,761,456 44-44

28,552/00
28/54,000 j
27,923/00
27,728,000
27,55/000

88,460/00

4 4

12.758,000

13/61,000
13/61,000

28,22)',(00

S

88,738,000
88,191,000
8',123,00)0
87,705/00

44
41

£6,883,000
7.994,000
8,277/00

Banks.

13/61,000
13/61,000
13,661,000

27/05:000

88,972,000

13
20
27
4
11
is
25
1

44

£13,660/00

27,766,000
27/91,000

88,3 4),000

6.....

44

28,214,165 44-94
*7,997,732 44*34
27,355,214 44-23

28,758,360 5.369.634 23,079,821
28,893,755 5,276,390,21,640,789 15,240,605
14,990,584
28,545,860 4,604,066 22,462,403 14,990.554
28,203,210 4,295.440 29,771,898 14 99 \554

Sep

31

£

2
9
16
23
30

5,618,338 23,520,174 16,001.441 17,787,156
6,632,603 22,890,468 16,001,441 17,818,123 13,552,473 26,376,903! 46-30 August
6,857,72: 23,152,710 18,026,176 17,516.949 13.996,824 26,433,259 46 60
8
7.215,293 24,039,409 16,026,176 19,071,302 14,581,064 26,758,304 48*14
15
14,704,822 26,921,427 4666
U
22
44.
8,295,675 22,235,172 15,988,176 19,049,118
29..
14,086,465 28,434.255 45-68
8,695,941 22,289,135 15,998,532
September 5.
19.108,570
8,883,936 22,264,911 16,002,035 19,314 179 14,441,018 26,499.238 4621
12
14,375,131 28,836,326 4571
11,530,029 22,615,416 15,502,035 23,776,279
13,481,052 26,464,29* 39 13
9,906,041 •22,915,615 15,308,096 22,854,102
October
3.
12,572,518 25,964,683 38*76
6 835,13'. 22,43',610
10
15.319,33 19,514,925 12,418,314 25,984,669 4200
6,457,402 23,190,134 15.329.901 19,4*0,216
17
14
6,473,216 *8,477,887 15.829.901 19,269,702 12,779.964 26,194,994 42'* 6
24
12,294,320 25,679,710 42-00
31
6,315,550 22.480,099' 15,340,207 20,482.345
10,926,636 25,004,621 37*56 November 7
6,638,594 21,682,317 15,348,494
14
19,646,733 11,290,854 24,837,739 40 14
6,577 403 21,7. 3.571 15.364.904
21.
19.365,162 11,514.65 24,993,663 40-75
44
6,415,539 22,167 867 15.364.904 19,347,395
28
11,784,442 21,854,497 40-63
6,523,8U8 22,141,497 15.364.904 19,081,72s 12,053,767
December 5
44
25.009,137 42-C0

20

Aug

Other Se¬
curities. curities. Reserve.

6,508,440 •25,936,786 15,969,162 19,582.321
4,373.157 28,385,591 18,766,486 17,516,675
3,9 5.536 28 086,715 18.267.876
17,676.10
4,101,623 27,365,718 17.317.876 17.762,841
4,837,165 25,146,245 16.367.876 17,732,917

6
23

4“
21
18
25

Pro¬
por¬

ment Se-

88.175,000

Associated

27,443/00
27,320,000
27,336,000
27/6/000

87 938/00

14

29,415,035

9

GovernOther

...

25

4*

27,597,000
27,728,000
27,503/00

89,236/00
88,798,000
88/73,000
88,474,000
89,138,000
89,314/00
88,642,000
87,9:36,000

21
28

April

£25,561,000
25,118/00
26,042,000
-.6/42/00
26/5/000

89.149/00
89,105.0(0

14.

44

New York

Vienna.

Berlin.

£36,420,000
86/28,000
87,072,000
87/63/00
88/97,000

17...

44

5
5
4

Paris.

8
10

t.

3.X
3X.

:

Cir¬

:

1

Week ending—

May
1877

statement shows the stocks of bullion held
each

by foreign banks

2X

44

BANK OF ENGLAND

~~

“

“

during

Bank

3
3
3
3
4
5
5
5
5
5

1677.

r

follows:

j

Hank

Rae.

1876.

£

M

BANK AND OPEN MARKET
RATES IN LONDON.

The Bank and
open market rates in London each week
were as

i

I
£
124,012,000 135.903,000 113,327,000
5
111,887,000 98,310,000 06,2)0,000 July12 112.766,000 321,843,000 125,782/00
101,679,000 88,856,000 96,781,00:)
149,196.000 128,128,1*00 106,152/00 “
96,466,000 90,376,000 01,069,000 •* 19 122,339,000 101/61 /OOjt 15,460.000
26 83,523,000
14y,629,000 125,440,000 108,786,1*00
81,058,000 81,946,000
101,460,000 92,434,000 103,488,000 Attg.2 114,073,000103,560,000 103,895.000
9
144,903.000 115,0y3,000 95,474,000 “ 16 93,681,000, 82,667,000 85,557,000
11H,136,000! 95,908,000 97,909,000
97,080,000 87,835,000 90,931,0*0
23 80,602,000:
Mch.l 14*1,799,000
81/59,000 84,046,000
118,291,000 102,235,000
“
30
8 107,696,000
92,630,000 105,928,000 Sept 6 115,700,000; 71,217/00 80,730,000
15 135,336,000
89,184,000jlf5,149,000 116.391/00
116,419,000 102,265,000
13 107,799/001
22 101,076,000
72,399,000 ? 7,868,000
98,989/00 89,277,004)
“
20 86,835,000.
29 107,727,000
92,429,000 99,583,100
79,437,000 101,367,000
l
Ap’l 5 120,313,000 126^68,000 78,152,GOO lOct. 27 106/67,000! 73,135,000 71,517,000
*
4
12 93,999,000
110/45/00!
108,831,000 97,202,000 “ 11 111,223.000 106/97/00 109,400,000
**
19 140,952,000
80,914,000 93,177/00
80,360,000 112,727,000
lb
26 84,824,000
81,181,000 78,966,000 “ 25 9^.839,000! 101,240,000 115,364,000
62,0)2,000 80,313,000 84.478,000
May 3 139,869,00 11<),5?7,000 110,461,000
“
Nov.l
10 94,062,000
129,193,000; 104,494,000 103,601,000
95,307,000 95,479,000
M
8 95,119,000!
17 119,503,000
91,157,000 94893/CO
105,272.000 108,973,000
**
15
24 91,207,000
118,85l,000j 99.411,000 102,377,000
84,779,00' 84.037,000
“
22 81,657/00)
31 114,046,000
89,667/00 97,342.000
92,709,000 79.810,000
29
JTne 7 92,950,000
80,320,000 106,768,000 Dec. 6 129,724,000 81,812,000 81.384.0w
M
14 125,397,000
88,230,000112,820/00 109,932 000
79,423,000 84,i 92,000
“
13 113,518,000
21 95,770,000
81,1*1/00. 100,074,100
95,095,000 106.134,0 0
**
20
28 107/54,0)1
93,764,000105,798/00 94,218,000
73,431,000 31,800.0001
27 72/22/00:
65,5-j8.0i'0l 68.371.0(Y;
* The
weekly dates in the first column
apply to the year 1875, but in subse¬
quent years the day of the week is
given as near the same date as

them.

assume

cause

1675.

£

12
19
26
Feb. 2
“
9
*•
16
**
23

support is derived from mercantile sources.
When this will take
place is one of the uncertainties of the
present time.

1877.

1877.

-

We live in times

rapid circulation of money. If the
demand for gold continue, the
money market will demand more
than usual
attention, and it would not be a matter of
surprise to
us if, after a
long period of ease, there was a
prolonged period of
dear money. A demand for
gold and a demand for money would
give a very firm tone to the
market; but it is evident that the
present perplexities of the market cannot

the year 1877

£

Jan, 5

even

Perhaps
shall have ceased, and the
Eastern question have
of—if that be possible—business
will

portions which will

1876.

£

almost

13/62,009

13,662,000
13/62/00
13/62,000
r/662/ro

8,752,000

3,890,000
3,954,000
3,6(;4,000
3,8 0,000
3,914,000
3,432.000

The unsettled rdate of

political affairs has throughout the
year
adverse effect upon Stock
Exchange business. .The heavy
losses which had been
previously sustained by the public in
their investments in foreign
stocks and in the shares of
public
companies have made them
unusually timid, and fresh invest¬
ments have been
upon a restricted scale. There has been
some
apprehension with regard to the financial
condition of
had

an

owing to the heavy burden Imposed
country by the war. That the war is
the burdens

are more

the finances of the
in

a

Russia,

upon
a

Government

through the operation

of

were

.condition,

resources of the

serious

heavily felt owing

somewhat embarrassed

the

e
pense, and that
to the circumstance that

previously understood to he
are well known
facts; but

Continental syndicate the stock has
high point. Speculators for the
fall, believing in a collapse in Russian
finance, have on several
occasions during the
year operated somewhat
extensively; but
they have only done so at a
heavy loss. Thos.3 losses
been maintained

about

some

at a

rather

fighting against

a

somewhat

heavy failures

;

but since the

brought
futility of

the syndicate has been
perceived, business in
Russian securities has been rather
limited. At the time of the
fa'l of Kars and the surrender
of

Plevna, prices improved

;

but

BANKING AND FINANCIAL.
latterly the market has
future

been very sensitive, the

being

anxiety about the

but in the United States it
yielded a very satisfactory result, and
from the Atlantic ports
large quantities of produce have been
already received. In spite of war and of three deficient
harvests,
wheat is still cheap, and the 4 lb. loaf is
obtainable at a moderate

very great.
The domestic crisis in France has been

an event of
importance
during the year. At one period serious apprehensions exit ted
price.
-with regard to the future of that
country, as it was feared— have
as

political parties appeared to be

that civil

war was

inevitable.

The

so

war

distant

and

13

Considering that the earnings of the

working classes
been diminished to a
very important extent, this is a
favorable feature.
Cheap bread is, of course, calculated to im¬
prove trade, but political affairs are now the chief drawback
to

bitter—

in the East has been

our

prosperity, and until the political prospect is brighter
very
hope of improvement can be entertained. The deprecia¬
tion of silver, which diminishes the
purchasing powers of the
prise, as the President of the Republic has given
way on most silver-currency countries, is also a drawback to our export trade,
of the points at issue.
and stimulates
It is remarkable that
imports; but a remedy in this respect seems
throughout the remote, as
crisis the value of the French funds has been
large supplies of demonetized silver have yet to be
well maintained,
disposed of.
but this has been due to the
TRADE RETURNS FOR
support afforded by the French
1875, 1876 AND 1877.
Government. This plan is very common to
The Board of Trade returns for the
foreign governments^
United Kingdom for the
and has been
year 1877 show the following comparison with the two
frequently adopted in France.
previous
There has throughout the
years:
yea* been a steady demand for in¬
very frequently described as one of surprises,
and the domestic
crisis in France appears to have terminated
in a fortunate sur¬

vestments of

sound

a

character.

been

Several colonial loans have

introduced, and they have been rapidly subscribed. There
lias also been an Indian loan and an
issue of Exchequer bills.
Although yielding a very moderate rate of interest, the capital

has been easily procured, as there has been
an evident desire to
make secure investments.
The demand to invest
money profit¬
ably, and yet securely, has been great during the
year, and con¬

sequently securities of acknowledged soundness have suffered no
depression. Consols have been dealt in as high as 97f, which is
nearly equivalent to the highest point attained in 1876, which
was 97|.
The high prices current for British
railway shares
which prevailed in 1876 have not been
realized in 1877, but
only
as regards Caledonian
stock has the yield of interest
to the
investor been in

excess

of 5 per cent.

The fall in Russian stocks,
compared with the highest point reached in
1876, has been about
20 per cent; and there has, of
course, been a heavy fall in Turkish
French stocks have maintained the best
descriptions.

little

IMPORTS.

In the twelve months

The

1876; but Italian have been scarcely so good. Austrian
Hungarian bonds have fluctuated considerably in
value,
owing to the delicacy of the political situation; and in the
and

market for United States bonds there

1876.

313,941,125

393,941,256

200,639,204

223,455,963

following figures relate

Imports of cotton
cwt.
Exports of cotton
...cwt.
Exports of cotton yarn
lbs.
Exports of cotton piece s;oods..yds.
Exports of iron and steel
tons.
Exports of linen yarn
...lbs.
Exports of linen piece goods ...yds.
Exports of jute manufactures.. .yds.
Exports of silk manufactures
Exports of wool, British
lbs.
Exports of wool, colonial and
foreign
lbs.
Exports of woolen yarn
lbs.
Exports of woolen cloth
yds.
Exports of worsted stuffs.
yds.
Exports of blankets and blanket¬
ing
yds.
Exports of flannels
yds.
Exports of carpets
yds.
...

1877.

375,093,771

198,731,073

BXPORT8

In the twelve months

points

reached in

1875.

to the year ended December 31
1875.

1876.

13,360.686
2,349,964

1877.

13,346,739
12,112,819
1,818,475
l,502.4i'9
215,609,580
232,5=4,627
227,609.000
3,562,462. 166 3,669,440,374 3,836,471,900
2,458,306
2,224,470
2,344,651
27,887,681
22,278,259
19,237,557
201,573,172
162,968,985
177,531.534
102,105,579
I20,8t3,966
116,554,294
£1,734,519
£1,794,565
£1,707,288
10,5^6,523
9,S17,249
9,576,902
172,073,3^6
31,723,627
42,058,354

172,921,850

251,845,549

221,561,909

7,257,350
C, 852,437

6.157,539
7,744,765

3

187,402,261

‘,854.160

26,980,500
44,554,100

40,479.373

7,522,660

194,308,900
6,898,700

9,264,900
6,467,910

6,298,479

PRICES OF MERCHANDISE.

The London Economist,
reviewing the decline in prices of
chandise, remarks as follows:

mer¬

“

In the iron trade there
cline of prices, plainly the

is, and ha 3 been now for years, a de¬
result of immense overproduction in

has recently been some
Europe and America, and makers of pig iron are combining to
depression, the silver agitation in America having checked further reduce out-put in order to
keep up prices. In the cotton trade
investments. The silver agitation has been
there is evidence of the same
thing, combinations being urged
very prejudicial to
in order to limit the
the interests of United States
weekly out-turn of goods. In wool we find
finance ; and although it is weli
holders agreeing to shorten the auctions in
understood that the Government will veto
LondoD, and to keep

any bill which

shall

advocate the payment of the debt in
silver, instead of gold, yet,
if there are no sellers of
stock, there are not, on the other hand,
buyers, and an adverse movement is easily
inaugurated. There
lias not, however, been
any actual depression, the downward

stock off the market until better times
times being expected-in all trades

round, those better

come

by the instinct which has been
implanted by the experience of the cycle of elation and
depres¬
sion already alluded to.
In the meanwhile times are bad, their
badness being to a large extent constituted
by the decline of
prices, and consequent loss of profits which we are noticing
; but
movement having been
speedily arrested.
theory and experience show that bad times cure themselves.
On the outbreak of the
Foreign material has lately been sent to this
war, Indian railroad securities were
country in such
large amounts as to raise alarm about alleged reckless expendi¬
flatter; but the weakness was temporary, and of late a
good deal ture, but some part at least of these
of attention has been directed to
them, more especially as some of of material for which there was no large imports have been
effective demand abroad.
the companies have been
paying dividends’ in excess of the Foreign manufacturers have long felt to an extreme
guaranteed interest. For Canadian
depression of trade we are now feeling. If we are degree the
descriptions, however, the too
importing
much, the excess ought to
market has been dull, but,
although the fluctuations have not prices, again, must tend to check depress prices here. A fall of
been so wide as in 1876, the best
imports, and in so far as stocks
prices obtained have been much abroad become reduced by the transfer of
material to English
below those current in that year.
American railroad securities have hands, the fall itself comes to a natural end.
also been less
Although the fall of prices has been long-continued and
buoyant than in 1876, and a reduction is shown
severe, no one can pretend to say that the
compared with the best points of that year;
but, at the same an end, and that prices must soon tend to depressed period is at
recover.
It is
time, there has not been equal
depression. It will be remembered t» say that the war and its attendant political tr. ubles only safe
that towards the close of 1876 there
may have
was a sort of
panic in the protracted the period of depression. If we have reached the
lowest point of the cycle, a new
American market, owing to the adverse
general upward movement may
rumors which were cir¬
with certainty be
culated respecting
expected ; but there are two elements
the Pennsylvania Railroad Company.
necessary
to the reaction—one
being the
Notwithstanding the cheapness of money, and the high rates upon which a slightly increasedrequisite diminution of stocks,
demand for commodities will
of interest which have
been allowed for deposits
quickly act, nnd the second element is such increased demand
compared with
the open.market rates’of
discount, the value of bank shares has itself. With a cessation of the war, and a further cheapening of
the price of bread, a
been steadily
general revival of the consuming power of
supported. The shares of all the Australian and the
people may be near, but at present the profitless state of
New Zealand banks exhibit a
decided advance. The shares of manufacturing and
agricultural industries at home is unpromis¬
the Standard Bank of British
South Africa have also
realized ing. ”
PRICKS IN LONDON POR POUR TKARS.
higher quotations, but home banks, excepting
National Provincial,
are, if anything, rather weaker.
“

.

Waterworks shares have risen
considerably in value during the
year, owing to the proposal which is under
discussion for

Metropolitan Board
to the

the

of Works to take the matter
of water

metropolis into their

During the earlier

situation

was a cause

own

hands.

weeks of the year,
although the
for anxiety, the trade for
wheat

supply

Scotch

£

pig iron (warr’ts)..$ ton.

Coals—Hetton Wallsend..

Copper—Chili b
Straits tin

political

was quiet
but firm.
The average price of home
grown produce did not
exceed 51s. 2d., but when the
peace was broken a rapid
upward
movement to 68s. 9d. took
place. That price attracted,
liberal supplies, and Russia sent
however,
large
ports.
The financial necessities of Russia quantities via Baltic
and the low rate of
exchange have compelled her merchants to ship as
freely as pos¬
sible the produce of the
soil, and the result has been that if there
has been no abundance the
importations have been adequate o
our
requirements. The harvest in this
country was a




1874.
Dec. 26.

poor one,

rs

“
“
“

Wheat—Gazette average. $ qr.
American red spring
4Flour—Town mado
$ sack
New York

Beef—Inferior

30
83 10
94 0

44

0
0
0
8

£

s.

64
25
82 0
82 0
45

d.

3.

0
0
0

9

$1 88

33

42

a

$5’ 15

$ stone

Pepper—Black Mul bar... $ fl>.
Saltpetre, Eng.Teflned.. $ cwt.

d.

8
5

8

8
5
7 5 16

ID*

5 0
17 0
27 0
81 0
7
25 9

1876.
Dec. 30.

.

$1 '22

“

Pdme small
4*
’
Co ton—Middling
Upland $ lb
No. -;0 male twist
“
Wool—South Down hoes. $ pk.
Sugar—Manila Muse Vo
cwt
Mauritius. 15 to .7
44
Coffe —Cey on, good ord. 4:

s.

80 0

187
Dec. 25.

6

85 50
4
5
6
1
17 10
15
25
iC

23

£

8.

58
19
76 10
75 0
50

<•

0
0
0

6

£

a.

d.

51 6
13 6
•6 0 0
66 0 0
51 9

$143

$1 45

88

46

6

$5 80

8
3
8
5
15-16
0
0
16 10
0*
22
3
35
6
87

5*

d.
0

1877.
Dec. 9.

3
2

6H
0
0
0
6

5 1 IP
?4 3

0

$5 50
2 10
5 0
6 7-16

9*

1510

0

14
26
81

0

6
9’

4*
27

3

CC*

TRADE

AND

EXPORTS,

COMMERCE.

IMPORTS, PRICES.

COMMERCE OF THE UNITED STATES.

esting points to be noticed
petroleum was unknown

The fiscal year of the United States
terminates with
June 30, and the figures in the tables below are
for the
years

and

(and

as to

the trade

intended

are

to

a

they bear directly
tion, and

a

1856),
glance the comparative

the
in

prices of the principal articles of commerce in
1860,
1866, and for five years past, the total value of exports

and

imports of the country, the so-called

trade balance

each year

since 1856, the exports and imports of the
great leading articles of merchandise in a series of con¬
secutive years, and
finally, the extended statement,
showing in detail the quantity and value of each article
of export or

import in the last

and 1876-7.

These

official returns

two fiscal years,

compilations

1875-6

based upon the
issued from the Bureau of Statistics at

Washington, for

some

years past

agement of Dr. Edward

are

under the able

man¬

Young.

In the table
giving the total values of the exports
and imports of the United States
since the fiscal

1860,

inclusive, they

1 50

1

t

4 60

sp’g, bu,

46*

Middling upland, lb

90

98
62
95

88

98

11

52
53

•

...

Middling Orleans, lb...

11*

Fish-

4 50
Dry cod, quintal
Bay mackerel, bbl.
Hay—Shipp ng, 1U0 lbs... 1 00
Hemp—Manila, lb
No. 1

a

•

m

•

•

Hops—lb

•

16

IronScotch pig, ton
American pig, ton

6 00
5 75
4 60
1 65
1 00
60

87*

9*

Corn—Old W.mix’d,bu.
Corn—New South’n.bu.
Cotton—

upon

country been studied more carefully than in the past
few years. The several tables
given in this article show

$

Oats—State, bush

importance, since

1874.

8 00
6 75

Rye—Weatern, bush....

the question of specie resump¬
time have the exports and
imports of the

at no

i860.

4 ao
4 00
a 90

Wheat—No. 1

to the year

far greater

are

$

...

movements*of the trade of the United States for the
entire period of the
paper money era, and for a full year
prior to the outbreak of the war in 1861. Commercial
statistics have assumed

among
markets in 1860.
below those of 1360.

Wheat flour, 8tatu, bbl
Rye flour, bbl
Cornmeal, B’ywine, bbl

most cases to the
year

balances,

show at

Breadstuff s—

comparison;

24 50
.

1875.

95
71
97
90

• •

•

16*

14*
14*

16*

51 50
51 00

42 00
35 00
*6 75

88 00
24 00
*6 90

28

25
31

30
30
75
58

36
31
1 70
1 20

1 10
77

44 y,

1 01
6 50

41
3 60

f5
1 65

Oak

Lime—Com. Kockl’d, bbl.
Molasses—N. Orl’ns, gal.
Naval Stores—

Spirits turpentine, gal..

•

Common rosin, bbl
Oils—
Crude whale, gal. .....
Crude sperm, gal.
.

..

Linseed, gal

1 65
52
1 40
67

1 57
2 47

1 44

Petroleum-

Crude, gal
40
Refined in bond, gal....
62
Provisions—
10 37# 29 12
Pork, mess, bbl
Beef, plain West’n. bbl. 9 60 18 00
Beef nams, extra, bbl.. 14 50
33 00
•

•

Hams, pickled, lb
Lard, Western, lb
Butter, prime State, lb.
Cheese, flue factory, lb.
Rice—Good, lb
..

....

•

9*

...

10*
24
11

4*

....

Salt—

Liverpool ground, sack,
do.
Ashton’s, sack.
Sugar—
Cuba raw, lb
Refined hards, lb
Tallow, lb
Wool, Ohio fleece, lb

•

1 15
1 95

Whiskey—Domestic, gal..

10*

1

•

•

•

52*
87

5*

18*

11*
11*

•8*

*7*

26

13

27 60
27 09
20 50
18 50
*6 62* *6

37*

26
33
80
55

1 10
59

87*

22
28
80

48

1 65
65
1 65
62

78

46'
2 50

1 40
65

65
1 03
61

15
28

13

B*

70

7*

12

13

32*

1 75

7*

12 62*
16 50
20 50
20 75
17 60
11 00
11 50
10 00
11 CO
10 50
25 00
16 50
22 00
22 00
20 25
16
10
11
12*
10*
19* 9 18-16
18*
8*
12*
40
36
88
28
81
80
18*
13
14*
15*
18*
14*
7
•8/,
6
8*
7*
6*

i1*

2 50
4 50

7*
40
26

•

12*

« 12* 5
75
20 00
20 CO
65
65

V*
15

35
2 10

60

6 00
19 00
80

27
33
1 35
65

75
40
58
60

59
60

32 00
23 00
*7 00

light, lb.
sole, light, lb

1 39

45

13*

48

...

$
5 25
4 00
8 25

13 7-16 1211-16

40

5 65

1878.

$
5 50
5 00
8 6)
1 47
83

5 60
16 00
1 00

6 00
11 50
70
*8

many

1877.

35
00
90
30
90
60
71
63

8 00
17 25
80
12
60

*9*

On

$
4
6
8
1

1 25

84
•

1876.

$
4 50
4 75
4 75

Lead—Foreign, 100 lbs...
Leather—
Hemlock sole,

these, that

the

to

1860.

ending at that date, unless otherwise specified.

The statistics given reach back in
1860

rticles the prices of 1878

in this

11*

18*
13*
70
8 27

VALUE OF EXPORTS

1 25
8 00

7*

10*

7*

65

97*

1 25

1 10
2 50

285

1 10
% 50

8

8

10*
8*

9*

10*

1 *

10
49

6«
99

1

8*
48

1 13

14*

75
2 60

7*
9*
7*
45
1 07

AND IMPORTS.

The tables below show the total value of the

imports, exports
classified according to and
re-exports of the United States, in each of the fiscal
in which
years
they are reported by the ending June 30, from 1860 to 1877, inclusive, all in
specie values.
Government, the re-exports of foreign merchandise and An analysis of the net result of these figures in each
year is fur¬
specie being separately stated from the
nished by the table below under the head of “ The
Balance of
exports of
domestic merchandize and
Trade”:
specie. The figures for the GOLD
VALUE OP IMPORTS, EXPORTS AND
whole period,
RE-EXPORTS OP THS UNI TED STATES
however, are reduced to gold values, in
since 1859.
'
order to give
Imports.
uniformity and furnish a proper basis for
fte-export8 of Foreign.
Merchan¬
Coin and
comparison of the different years. It will be observed
Merchan¬
Coin and
Total.'
dise.
bullion.
Total.
dise.
bullion.
that the largest
exports of domestic merchandise were 1800... $353,6 i6.119
$9,550,135 $362,166,254 $17,333,634 $9,699,388 $26,933,02*
made in the fiscal
1861...
year 1873-4, when they amounted to 1862... 289,310,542 46,339,612 335,650,153
14.654,217 5,991,210 20,645. 27
189,356,677 16,415.052 2)5,771,729
11,026,477 5,842.98:
16,86),456
1863...
$569,433,421, and the largest imports of merchandise in 1864... 243,335,815 9,584 1< 5 252,919,920 17,960,535 8, i 63,049 26.123 564
316,447,283 13,115,612 329.562,895
15.333.961
4 922,979
20,256,94-)
1865..
1872-3, when they were $642,136,210.
238,745,580 9,810,07* 248.555.652
29,089,055 3,025,102 32.114.157
year

the

are

usual form

•

1866...

COMPARATIVE PRICES OP MERCHANDISE.

The table

following shows the prices of leading articles of
merchandise about the first of
January, in 1860, which was
before the war excitement had
begun to affect the markets, at
the same time ia
1866, when inflation was at the highest point,
and for




the past five yeais—1874 to
1878.

There

are

many inter¬

1 67...
1868...
1869...
t 70...

1871...
1872

..

1873...
1874...
1815...

1876...
2877...

434,812,066 10,700,09.
395 763.100

357,436.4(0
417,306,379
433,93,40'
12 *,223,684

22,070.475

14,188,368
19,807,876
26,419,179
21,270,024
£26,595,077 13,743,639
642,136,210 21,480,937
567,4' 6,34-^ 2'<.454,91C
533,005,536 20,894,217
460,741,190 15.936,681
451,315,992 40 774,414

445,5.2,158
417,833,575

11,341,421)

371.624.808
437,3 4,255

12.562,9)9
10,9-51,01)0

14.719.332

462,377,587

16,155.295

541,453,708

14,42',270
15,690.45*)
17,446,483

610,338,766
663,617.147
595.861 248

16,849r6i9

553,906,163:
476,677,871:

14,157,611
14.803,G24

492.097 540

12,801.996

3,4“0,697
5.892,176
10,038,127
14,222,414
14 271,864
14,038,029
7,079.294
10,703,028
6,9 i0.719
8.275,013
6,467,611
13.027.499

14,742,117
20.611,508
22,601,126
25,173,414
20,427,159
28,459,899
22,769.749
28,149,511
24,780,338
22,432.624
21,270,035
25.832,495

45681

TRADE
Domestic

Export*.

Merchandise.

!316,242,423
204,899,616

$56,946,851
23,799.870
31.044,651

I860

179,644.024

1S6;003,912

228,699,480
210,688,675
241,997,474
243,977,589

65,993,502

136.940,243

337,518,102

1S66
1867
1868
1869

277;64i;893
269|389; 909

43,883,802
84,403,859

1R7.S

3*6,616,473
428,398,908
428,4s7,131
605,033,439
569; 433,421
499,284,100

1876

525.582.247

1877....

589.670,224

50,038,691
43,184,738

1872
1873,

1874

332,618,0 9
853,135,875
318,082,663
420.500,275

83,745,975
42,915,966

275,166,697

.

1870
ivri

articles.

201,558,372

420,161,470

54,976,196

••

movements, as it shows not only

$373,189,274

100,473,562
64,618.124
82,613,374

143,504,027

61

,802,267
501,285,371
578,938,985
629,133,107
583,141,229

72,798,240
73,905,546

59,699,686
83,857,129

IS

esting to those who watch carefully the course of merchandise
the quantities of the principal
articles of commerce imported in each of the years named, hut
the values also, thus exhibiting the relation between quantities
and values as affected by the change in prices of many

Total.

Specie and bullion.

1861.
1862.

COMMERCE.

AND

The variations between the

figures for the

year

1873-4 and

1876-7, the first and the fourth years of those embraced in the
table, are most significant, and carry with them a forcible
reminder of the changes which have taken place in many
branches of trade during the past four years.
The imports of
manufactures of cotton goods show a large decline; fiax and
wool manufactures

675,620,938
04,962

similar decline in many

descriptions; man¬
striking decrease, such important items as
THE BALANCE OP TRADE.
iron and steel rails having virtually disappeared from the list;
For the purpose of showing the total amount of exports and
tobacco and wine among the luxuries show a large falling off,
imports of merchandise, and the total of specie in each year since while the imports of silk manufactures have been well main¬
1856, the table below has been compiled. In the columns headed tained ; the standard articles of consumption, coffee, tea and
Excess” are given the differences between exports and imports
sugar, are well maintained, and the two first named showed a
each year, showing at a glance the “ trade balance” of the country. material increase in 1876-7 over 1873-4.
The year 1876-7 is remarkable in showing the unprecedentedly
IMPORTS OF LEADING ARTICLES.
large excess of $151,159,228 in the exports of merchandise alone,
and this large balance in favor of the United States is regarded as
Articles.
1878--4.
1874-5.
1875-6.
1876-77.
an
exceedingly favorable condition of our foreign trade balances, Barley
6.255,063
bush.
3,891,059
10,285,957
6,702,965
at a time when it is desired to accumulate specie in the Treasury
value..6.2*7.7S8
4
5,801,435
7,887,886
5,099,326
Cigars
JbB.
897,328
856,978
658,653
536,524
for resumption purposes.
value
3,124,892
3,087,617
2,371,157
2,002,347
.

632

ufactures of iron

a

a

“

"

GOLD VALUE OF

IMPORTS

AND

BXP RTS OF MERCHANDISE

AND FROM THB UNITED STATES IN EACH

1871..

1872..
1878..
1874..
1875. •
1^70..

1877..

1856.

Imports.

!

I

.

44

310,432,810 281,2 9,423 Im. 29,212,887
Im. 54,604,582
348,428, *42 29 ,823,760'

Exports.

Excess.

$
4,207,632
12.461,790
19,274,496
7,434,780
8.550,135
46,^.89,611

S

$
Ex. 4’,537,853
Ex. 56.675,123
Ex. 33,358,651
Ex. 56,453,622
Ex. .57,996,104
Im. 16,548,531

58,929.651

74,995:399

|

“

“

of the country cannot

be followed with
any such degree of accuracy as that which attaches to the statis¬
tics of foreign trade.
It would be of much value to merchants
could the movements of raw products and manufactured goods be
followed so closely as to enable them to shape their operations to
meet the requirements of the markets from time to time, but this
cannot be done except in a few leading articles, such as cotton,
coal and, to a less accurate degree, breadstuffs.
The following
table showing the total freight tonnage for a series of years
(ending Sept. 30) on the New York canals, and on three of the
four leading trunk lines of railroad, is interesting as an indication
of the general freight movement.
TONS OF FREIGHT

commerce

MOVED

ON THE NEW

YORK

CANALS

AND THB NEW YOIK

“

“

value
Hides and skins

%
..

Ind.rubber & gutta p.,cr ,lbs.
“
“

val.f

Iron and manufactures of—

Pig iron
44

lbs.
$

value

*•

$

value.!
Lead, pigs, barf, &c.
lbs.
value..!
“

lbs.

!
bush.

!

gals.
!

Opium and extracts of.. .lbs.
**
“
val.!
Paintings, statuary, <fcc....$
Rags
lbs.
“

value

......!

Rice

1864
It65....
!866
1867

1869
1870
1871
1872
1873
••••

•••••••••••!•

1875.»••••»•.«••••
1876

••••

•••••

!••••••••••

•

|

1

1877

1,3>7,433
1,449,604
1,557,148
1,275,299
.5,775,120
1,602.197
5,688,325
1/67,926
6,442,225
1,846,599
5.859,080
2,281,885
*4,122,000
6,173,769
4,532,056
6,467,838
6,673,370
4,393,065
5,522,724
6,364,782
5,804,588
0,114.678
6.001,954
4,859,858
4,172,129 |
6 8-3,680 I
6,35 ,356 '
4,879,013 1

<

Pennslv’a
Railroad.

1,632,955
1,815.096

2.170,7(8

•

2,234,350
3,24*,79*
3.484,546
8,9i.8,243
4,812,209
4,852,505
4,844.208
6,564,274
6,312,702

6,864,276
H,*239,943
6,972,818
6,182,451

-

1,989,126
2/50,34 •’

2,659,884
2,555,705
3,452.719
4,000,588
4,722,015
5,402,991

lbs.

value

**

..

44

Tin

cwt.

.

Wine in bottles
doz.
41
value
!
Wool snd woolen goods—

Wool,
44

table




4*

Carpel a
•4

8,459,535
9,211,231

following shows a comparison of the imports of
leading articles of merchandise, both quantities and value, into
the United States in the last four fiscal years.
The imports are
reported in gold values, and the exports, in the table next below,
in mixed gold and currency values—those in gold being for the
Pacidc coast. This comparison will be found extremely inter¬

raw

value
Cloths and cassimeres
Shawls

Dress
.

value

lb*.
!
...

f

$
sq.yds.

!

sq.yds.

goods
n

value
..f
Other wool manufactures $
EXPORTS

Note.—In the above statistics 2,000 lbs. are called a ton.
*
Consolidated with Hudson River RR.

The

3,180,769

“
*•
value
|
Wa'ches acd movements
$
Wins in casks.
....gals.
••
value
f

5,427,400

IMPORTS OP LEADING ARTICLES OP MERCHANDISE.

value

111,952

!
cwt.
!
bf.

Tobacco, leaf

6,575,843

8,626,946
9,787,176
9,922,911

6,138,528
2,618,321
4,3<il,690
47,076,797
10.911.189
895,909

73,257,446
!
2,083.248
Sngar, brown
lbs. 1,592,26*1,454
44
value..
77,440,459
—$
Silk, raw
lbs.
794,837
“
value
$
8,854,008
24,319, i*37
Silk, manufactures of, val.!
Salt
lbs.
927,364,573
value
2,338,711
f
Tea
lbs.
65.811,6.6
*•
value
$
21,212.334
“

va ne

Railroad.

5,598,785
6,557,692
4,852.941
4729,654

1862
863

18 * 4.

Erie

9,671,195
43,513,1)17
2,12',387
9,369,659

2.540,228
1,487,287
94,176,438
3,961,386

Tbe

OF

LEADING

1.511.776

12,892 953
9,690,011
5,537,651
2,3 4.298

7,839,928
3.151.615
419,479
2.881.615

13 939.878

4.304.808
14/56,046
11,912,240
197,010
622/42

3,739,011
17,979

2,247,540.

11,018,698
1,237,312
10.299.915
1,415,112
3,804,520
641,611
86,919

12,379,751
8,709,542
13,915,902

9,336,779
162,286
595,862
3,128,919

17,128
1,652,460

13,035,70?
10,689,29?
4,063,659

14,963,701
13,821,109

177,979,936

152.145.915
1,556,415

12,362,437

1,422.218
8,'47,995
6.941,288
3,7t>3,844
6,227,0; 2
49.112,255
11,685,224

987,260
292,821,945

ice.

15.007,450
1,845,658
15,501,344
2,074,944
4,682,871
1,299,627
182,257

59,649,719

40,759,006

“

value
Railroad bars, steel
“
*•

339,789,246 931,639,723
56,788,997 53,634,991

119,698 709
1,458.668
63,104,467
1,728,137
4,396,243
69,283
89,867,478
2,863 02?

206,173,031

lbs.

Railroad bars

Leather
“
value
Linseed
“
value
Molasses
“
value

8,261,418
341,148
521,454
3,319,293
24,325
3,676,967
16,444,8.4
14,191,3.0
6,196, 29
3,298.022
77,031,533
3,022,279

lbs.
value...

“

Central
Railroad.

4,621,259

$

Bar iron

Tinplates....
N. Y.
Canals.

23,418,757
2,873,222
18,399,89?
2,593,936
4,948,024
1,955,825
268,739
17,054,4^0
4,265,210
16,603,242
12,536 420
209,622
583,632
3,533,075
23,068
3,110,803
18,536,90?
12,035,909
4,675, 90

17,473,765

$
Fruits and nnts
$
Gunny bags and cloth
f
Gloves, kid& “
leather, doz.prs
value. $
Hemp, raw
tons.

CENTRAL, ERIE AND PENNSYLVANIA RAILROADS.

Year.

26.361,866
3,083,933
23,380,265
3,155,494

Flax, manufactures of.

value..|

.

The internal

317,970,1*5
56,591,488

Other manufactures of... f
Earthen, stone & China ware!

“

TONNAGE ON THE CANALS AND TRUNK RAILROADS.

295,271,697
65,040,965

2,220.699
338,296
16,994,896
4,882 579

"

63.067,4S7
8,672,620
72,012,276
38,432,290
66,54*»,239
20,040,062
29,791,080
69,756,709
1,313,824 16.415,052 86,887, *40 Ex. 19.972 588
89,870,818 9,584,10c 64,156,611 Ex 56,571,9 V
157,559,295 13,115,*L 105,396,541 Ex 02 280,929
76,732,082 9,810 071 67,643,226] Ex. 57,833, i 54
85,952,544 10.700,09V 86,044 071 Ex. 75.848,979
98,459,447 22,070,471 60,8*8.872 Ex. 88.797,887
75,483,541 14.188 3* 93,784.102j Ex. 79,595 734
18l,38«,6'2 19,>■07,871 57,138,8’0i Ex. 87,330 504
43,186,640 26,419.170 58.155.666 Ex. 31,736,486
*5 7,4 >3,506 21,270,024 98,441,988] Ex. 77,171.964
182,417,491' 13.743.«89 7«,877,584 Ex. 66,188,845
119,650,288 21,480,937 84,608,574 Ex. 63,127,63:
18,876,698 28,454,906 56,630,405 Ex. 88,175,499
19,663,7-6|20,900,717 92,132,142 Ex. 71,231,425
460.741.191 540 384 671 Ex
79.623,480115,936,681 56,506,302 Ex. 40.569.62i
/451.315 £92(602,475,220/Ex. 151,t59,228f40.774.414 / 66.162,237/Ex .15.387,823

263,338,654 272,011/74 Ex.
331.333.341 292,901,061 Im.
853,616,119 333,576,057; Im.
289,310,542 219,558,8 '3 Im.
189,866,677 190,670,501 Ex.
213,335,815 203,964,997 Im.
816,4 7,2$ 8 158,887,988 Im.
238.745,580 162,013 500 Im.
434,812,066 348,85 *.52*ilm.
395,763,100 .97,303,653 Im.
357,436,440 2S1,1*52,899 Im
417,506 879 286.117,697 Im.
485,958,408 392,771,768 Im.
520,223,664 442,820,1781m.
626,593,077 444,177,586 Im.
642,136,210 522,479,817i Im.
567.406.342 586,363,040,Ex.
533 005.436 513,441,7111m.

lbs

value

Cotton, manufactures of—
Bleached & unbl’d..sq.yds
“
44
val. $
Printed & colored.. sq.yds,
value f
Hosiery, shirts & drawers!
Jean 8, denims, &c. sq.yds
“

Specie.
Excess.

Imports. ^.Exports.

Coffee

SPECIE INTO

YEAR SINCE

Merchandise.

Year.

1856..
1857..
1858..
3859..
1860..
1861
1862..
1863..
1864..
1865..
1886..
1867..
1868..
1869..
1870..

FIiCAL

AND

585,546
6,0b0,171
8,996,88
2,755,726
3,859,496

3 5.336

1,918/47
51,662,726
1,563,819
592,964
5,71<8
9.953.469

314,282

89.026.200

8.157.470
388,3>1
1,805,906
1,943,790

5,542,166

56,419,708
1,515,691
66,138
1,464

15,225,924
702,240
7,447,423
4,589,713
1,445,625
1,916,249
30,188,963
7,808,257
344,223

2,037,793
1,788,347
1,4-17,776
1,226,873
98 378,154
66,041,174
78,759,118
8,973,149
2,485,988
2,587,217
59,411,749
71,561,852
60.9.8,659
1,5*7,H97
1,693,547
1,439.767
1,(95.726,353 1,414 254,663 1/84.162; 924
70,015,757
56,702,9? 8
81.187,504
1,354,99
1,101,681
1,186,170
4,504,306
5,424,40$
6,792,937
21,330,923
23,745,967
21,830,159
825,177,945 867,087,88$ 901,209,894
1,773,445
1,807,58
1,659,521
64,85*.899
62,8>7,153
58,347,112
22,673,703
19,524,166
16,181,467
102,561
98,095
98,933
2,827,211,816,289
1,798,613
1,702,35
1,770,631
1,987,578
12.956.647
10,005,799
9,751,327
6,769 456
7,882 974
7.551 583
3,724.879
3,710.490
8,728,619
2,282,925
1.456.809
772,432
6,731.598
4,436,016
4,192,630
2,842 62
2}0*4 885
1,889,871
401.849
364.946
809,995
2,708/52
2,669,725
2,2 6,889

42.949,206
8,247,378

54,901,760

44 642,836

11,"71,259

13,016,4*0
2,181,914
3,122,513
3,649,863
72.854.189
21,162,635

13,68»,288

8,247,617
9,838.449
1,453,80*
1,118,731
1,521.092
64, 98,625
14,210,221
6,185,416

6,720,973}

ARTICLES

2.143,498
2,314.783
2,643.932

71,299,121
19,759/88
6.233,389
OF

DOMESTIC

42.171,1(2
7,156,944
6,624,909
1,248,1*9
533,539
674,. 11
49,650.114
12,549,867

4,521,741

PRODUCE.

following table, showing comparative exports of leading

articles from the United States for the last four fiscal years, is
made up from Custom House returns, the values of merchan¬
dise

being given in gold on the Pacific coast and in currency for
the rest of the country.
There are many points of interest to
observe in these comparative statements, and not the least of
these is in
no

regard to the exports of beef. In the figures for 1876-7
49,210,990 pounds of the total quantity, valued at

less than

1G

TRADE

AND

COMMERCE.

$4,552,523,

was [fresh beef, whereas in the
previous year there
item of fresh beef in the
returns, thus showing the rise in

was no

single year of this
domestic produce :
a

extraordinary

movement in

article of

a new

EXPORTS OP LEADING ARTICLES.

1873-74.
Bacon and hams

lbs.

“

value

Butter

347,898,405
33.384,108
4,367,983
1,092,3-1

$

lbs.

vaiue

Beef
“

value

$

Corn
“

value

$

Cotton, Sea Island....

..lbs.

value

$

“

**

Cot'on, other
“

......

..

Cotton manufactures-

Colored
“

value

.$
...yds>.
...

Uncolored
value
Fi rearms

...

“

value

$

29.367 094

....

3,940,426

204,9*7,471
19,308,019

•*

$

.

lbs.

..

215,336.330
4,099.360
217.219,544

S
gal....$

Oil, illuminating
“

value

Pork

37,561,513

lbs.
$

value

70,482,379

6,808,712

Rosin anil turpentine ..bbli.
“
value.. $
Tallow
lbs
“
value
$
Tobacco deaf)
lbs.
“

value

“

929,342

bush.
value.

$

.

DETAILED STATEMENTS

3,h67,05u
8,935,512
24,4584-0
8.394/ 60

SV,429.435;

25.562 665
287/19,80.
273/70,940
,774,5,* 5*
4,818,145

5,138,30)

204]8*i4/73j

191.551,983
27.0 0,361

28,755 683J
64.195,1.8

56,152,331
5,671,495

262,441/44
55,401 132
69,671,894
6,296,414

6,744,02V'
824 256

900,056

2,l88,o28

2,384,378
91,472,803

72,13/7 5

6.734,378,

218,8t<»,265f

22,787.383j

53.047,177

65,073,122

69.607,8 3

68,382,8991

The general results of the
year’s foreign trade, compared with
those of 1875-6, were as follows. The
relative amounts of

imports

and exports, when

table

on a

reduced to specie values, are shown In
the

previous page

:
1875 6

f320.379.277
156,298,594

Total imports

$476,677,871
12,148,667

Brought in cars and other land vehicles
Brought in American vessels
Brought in foreign vessels
FOREIGN

143 389,704

321,139,500
$10,776,215
10,493,820

Total..

$21*270,035
DOMESTIC
cars and other

$310,534,674
181,562,866

$492/97,240
10,6 17,640
15’,812.510
329,565,833

RE-EXPORTS-(SPECIE VALUE).

Total dutiable
Total free of duty

Shipped in

1876-7.

EXPORTS—(MIXED VALUES).

land vehicles

$4,390,825

Shipped in American vessels
Shipped in foreign vessels

160,562,954

480,002,627

Total

$644,956,406

$8,325/91

corresponding year of 1376Quantity. Value.

r ommodities.

Argols

Free of Duty.

!875-6.

lbs.
Articles the produce or manufac¬
ture of the U nited
States,brought
back

7,047,802 $1,050,396

5,744,765

lime,

powder
Cocoa, crude, A leav.
Cochineal
Coffee

or
s

raw
Cutch or catechu A terra
or

gambler

1,1 ’■0,515
33 *,78^,2 6

2,451,419

japonica
lbs.

17,595,455

cwt.

1,514.656
4,903,771

...

•Heriing, pickled

Mackerel, pickled
All other....

Fur skin-*, undressed
Gold and silver:
Gold bn lion
Silver bullion..
Gold coin
Silver coin
Guano (except from bonded
tons

10,723,216

bbls.
bbls.

179,826
819,360
35,542

3,381,230
4,682.599

Ezgs
doz.
Fish, not of American fisheries:
b r 8b, of ail kinds
.lbs.

8*,554
76.531
*

47,642,133

496,701

1,324.165




4,655,986

56,788.997 831,631,723
381,723
2,656,6j7
782,663
1/94,896
6 0,393

53,6:4.991
413,503
910.479

1.195,079

1/75,389
617,622

4,048/71

271,597
fit 6.555
695 412

7,735/81
63 28»

43,066

236,099
210,786
372/60

581,592
1,561,666

2,119,570
4/93,253
24,126,664
9,831,927

6.885,795

10,973,^37

1.877,322

untons.

116,125

126.587

25,582
9,873,515

99/63.

14,963,7i,l

•

•

.

•

•

1.152,755

•

5,542.160
1,301,058

Oils, not elsewhere specified :
Whale or fish, not of American
fisheries
gals.
Vegetable, fixed or express.gals.

2,911,958

151,005

3,178,988

144/13

Ibs.

300,010

of

including the extract
lbs.

Volatile,

or

Paintings,

essential

statuary, and

103,1Q4
7-2

other

61

works of art of American artists

Rags of

cotton or linen.... lbs
Other materials
lbs.*
•

Seeds.

Silk,

raw

lbs.

66.041,174
46,406,GO
1,351,991
51,837,278

Sods, nitrate of
Ib-*.
Sulphur or brimstone,crude..Ions.

49,966
Tea.:
lbs
62,887,153
Tin in bars, blocks and
pig*..cwt.
93/95
Wood, unmanufactured
•
All other artic.es
Total free of duty

liquors

:

84,088
561,813

844,480
228.182

••%•••

1,368,058

78/ 59.118
45,2)3,539

2,587/17

439.149
5.424,408

1,186/70

1,055,3.0

54,203,334

6,792,937
1,323,547

2,485,988

1,473/18

19,524,166
1,.-'16,288
1,406,681
6,623,684

1,329,582
494/lt9

43.441

1,24 .',71*8

58,347,112 16,181.467
98,933

1,793/13
1,237,518
9,048/83

publications
Brass, and manufactures of
Breadstuff’s and other farinaceous

1,490,150
m

181,562,866

1,749,3:5

other malt
g Is.

Books, pamphlets, engravings,and
other
food

306,183

1.38/08

1.300,3 6
246,332

156,2.8 5y4

Dutiable.

Animals, living
Beer, ale, porter and

62.438
3 0,429

208,189

Paper materials:

1,648,465
S74,2'7

1,161,467

758,850

1,627,375

2,119,4*8
264.431

247,820

:

Barley

...hush.

iixriey malt

10,225,957

bush.
lbs.

286,039
22 <,515

bush.

51,7:/

bush.
lbs.

121 547

71,561,852

hush.
Wheat
bush.
Wheat flour
.bbl
Meal or flour made from
oats,
Indian corn, rye A buckwheat
Peas, beans and otner seeds of
leguminous plants
bush.
All other farinaceous
food, and

0

.

241.<91

1,568.554
19,116
•

•

•

622,173

Chiccory, grouud

or

root

41,597
60,978/59

1,439,767

94,974
328.906

72,922
372,693
50,873

7,431

99.860

.

142,047

574,419

204,575

450,056

536,4.0

2,072.653

prepared, and
lbs.

!,441,929

Ciothing (except when of silk and

2,273,420

4,310,024

*

..

30,713
25,016
19,461

802,651

CiU/Si

Chemicals, drugs, dyes and medi¬
cines

176,075
30,9; 2

1.693.547
161/47

672,696

5/99,3-26
247,7*4

311,139

31.763
41652
52, 95

130,992

•

62?,302

lbs.
Buttons of all kinds,
Including
button materials
partly fitted
for buttons exclusively

6/07,965

7/87,880
252,622

1,623,819
101,681

preparations of, including ar¬
rowroot, pearl or hulled Darley, Ac

4,872,098

12G,012

4,055,236

J39 360

except hosiery, Ac.) of cotton

wool: '
Cut and sewed together....
Articles of wear
or

.

,

.

Cordage,

rope and

kinds....

563.5*3
1,08 ,1>9

•

228,715
981.236

407,853

l,6o7,89i

497, *70

1,775,667

32,307

8,189

38 229

9,182

18,397

71.180

318

2.475

1,741.123

27’,260

1,680,183

♦4 ,96*

twine, of all

254,696
330,016

lbs.

649,998

81,675

Bleached A unbleached, sq.yds.

577,43!

67/50

15,007,450

1,845,653

11043,608
10/99,915

1 237.312

of:

Print’d, pain 1’dor col’d..sq.yds.
Hosiery, shirts and drawers
Jeans, denims, dril’gs,Ac.eq.yds.

15,501,344.

2,074,944

4,682,871

....

Other manufactures of.
Earthen, stone and China

•

1/99,6*27

lt-2,257

13.939,873

ware...

17,268

Mackerel
Sardines and anchovies, pre¬
served in oil, or otherwise....
All other
Flax, and manufactures of:.
Flax, raw
tons.

3,659

lbs.

Cylinder A crown, polish’d.sq.ft
Fluted, rolled
sq.

feet

or

rough plate

Cast polished plate, not silver’d

feet
Cast polish'd plate,
silver’d.sq.ft
sq.

Other manufactures of.... Hair (excepting that of the
alpaca,
goat, and other )ike animals,)
and manufactures of:
Hair, human aud manufact’s of.
Hair, otner and manufactur'd of •
Hemp, and manufactures of:+
Raw
tons.
Manufactures of, by yard sq.yd.
Other manufactures of
•
India rubber and
gutta-percha,
manufactures of
•
Not elsewhere specified.

189,615

14

148

773.331

91,654
4,498

3,053 570
27,765 141
16,139

1/G2.020
5,448

759,033

29,069

1,614,511

1,318/81

2, *28,034

773 423
Qy4Q ■$
1,348,107
1

1.243,004

11,50/894
2,40/008
9,336,779

11/12,240

......

glassware:
Cylinder, crown or common win¬
dow

1 060 437
J 2.237,936
2 21<,110

•

skins

Glass and

14,873

605,901
96/46

*

Manufactures of, by yard

Other manufactures of

186.535
43

7

86 919

12.379,751
3,709,512
3/28,302

4,577,097

bbls.
bbls.

1,415,112
3,804,520

641,6*11

4 3 4/08

Fancy goods
Fish, not of American fisheries:

.......

7r,5,782

215,239
266,394

1,504,783

all kinds,
3,944,796 Fruits, of dressed furinclud’g nuts
Furs and
711,600
597,817
649,325

853,146
1,494,324

13,821.109

...

501,154

18,731

564,458
311,258
419,114
193,740
265,214
153,229

22,992,973

1,058,177
6 787,744

plaster of Paris,

groona.
Not elsewhere specified.

1,022.565

850,215
521,422

lbs.
or

1,976,016

1/01/65

isl’ds)

1876-7.

2,780,544

1,497,802

Gums

•

3 2,972

46/18,6*1

lbs.
lbs.

Dye-*0008, in sticks

Gypsum,

.

bleaching

Cotton,

1,293,400
184/26

lb*.
ledicines *

Sh.
Ashells.lbs
lbs.

Value.

9,025,542 $1,2*7,836

606 1» 9
..

Books

Chloride of

1876-7.

2,007,834

.

Ch-m’cals,drug*j,dyes&

Quantity.

298,461
491,354

4,063/59
794,990

Herring

Barks: Medicinal: Peruvian, calis iya,
Lima, Ac
lbs.
Barks used f«»r tanning
Cork bark and wood, uumf’ctd..
Bolting cloths

Camphor, crude

1875-6.

10,589/97

lb 8.

Cotton, manufactures

Summary Statement, from Monthly Relume of Collector*
of Custom*, of Foreign
Commodities imported into the United States
during Vis fiscal year ended June
30, 1977, compared with the

Value.
1876-7.

13,035,707

tons.

Coal, bituminous
tons.
Cocoa, manufactured, not includ¬
$25,832,495
ing chocolate...;
Ibs.
Copper, and manufactures of:
Ore
cwt
$1,980 8 0
Pigs, bars, ingols. old and other
156,03) 511
unmanufactured
Ibs.
515,104,208
Manufactures of

IMPORTS.

1876-7.

99.1,139

Indigo

Jute butts
Madder, not

17,5)7,-.04

$676,115,592

Quantity.

1,016,406
2,160,680

Bristles

IMPORTS—(SPECIE VALUES).
Total dutiable
Total free of duty

•

Value.
3875-6.

1,226,330

..lbs.

Rye

1876-7

1875-6.

AND

crude

Bread and biscuit
Indian corn or maize
Oats
Rice

7.883.616
262,386,426
24/25.5*1
40,325,611
47.138.562

EXPORTS FOR

1875-6.

Hair of alt kinds
lbs.
Hides and skins, other than furs.
Household and personal effects
and wearing apparel, old
and in
use, of persons arriving from

101,40 ',830! 234,741,233

22,900.522
241,016,095

AND

21,663,917
25,122,938
6,016,373

31,947,001 j

166,869,393

OF IMPORTS

2,484.131
76,769.147
6,437,223
1,314/89
5,259/13
3,343,665

952,778

6,2>6,397

937,527
2,774,419
65,461,619
5,692,203
223.9ul.918
25.241.549

8,046,431
101,735,831
8,135,820
318,097,804
80,399,181
71.039,928
101,4*1,459

$

Wheat

3,891,724

5,314,738

6,502,3 0
3,973,128
£3,712,440
24,154,193

15,625,974

value

value
Oil cake
“
value

12/, 00,627
70,860,9«3
41,6*1,245

1,455,462
59.3 9,267

2,313,270
819,551

4.094,094

Lard

“

21,224,020

1,680,297
744,773
2.340,138

Leather
“

107,364/66

49,493,57*
33,265,280
2/41,79

4,439,120

13,237,5-0

...

Flour (wheat)

7,543,4 5

97,676/ >4
12,270,08o

939 06!

...$
$

.

4.421.616

88,366,143

3,186.304

101,010,853
13.659,603
28.858,420
24,456,937

666,262

$

All other

21,527,242

1,109,496

1,538,769
941,803
1,084,509
lbs. 1,352,175,779 1,2*5,979.783
l,484,?b0,54S
$ 209,109,456 189,099,850 191.717.45J 1,441,974,406
170,033,999
4,600,447
7,693,723
16,488,214
29/01,304

..

value

460,057,116
49,512,412

86,596,150

Quantity.

Hair, unmanufactured:
Horse hair, used in weaving.lbs

foreign countries
India rubber and
gutta-percha,

1876-77

327,730,172
39/64,436
4,644/91

24,012,613
6,360,827
1,506,996
48,243.251
4,197,956

2,956,676
60,611.<57
11.* 98,995
34,434,696
21,769,951
6,429,524
2.114,1*4

Cheese....

1876-76.

250.286.549

3 ,036,537

value

“

1874-75.

Commodities.

2,401,778
24,147.630
29,922

1,006,456

267,372

11,405

1,602,325'
1,918,501
AjGIOjGvI

8,482

1,263 864
152/99
OM)Ct7i7
*

1,090,680

144, P'54
2132,670
17.9 9
4,637

2,247.540
774

79.8C0

77,075

162,596
17.123

27/42

1,852,480
7,101

91,593

428’5'15

325,113
Including brown holiands. burlaps,
canvas, coatings, crash, d aper, duck,
handkerchiefs, hnckabacks, lawns, paddings, and all like manufactures of
105,635 which flax shall be the material of chief
valu.\
t Except articles specified in the note to “
Flax, and manufactures

873.396

1,387,310

of.”

'TRADE AND
Commodities.
iron

Quantity.

Vaino.
1875-6.

1875-6.

and steel, and manufactures

Quantity.

COMMERCE.

Value.
1376-7.

187G-7.

Commodities.

lbs. 177,979,936
lbs.
76,791

1,018,547 152,145,915

as.
Ibs.

Bar iron
Boiler iron

1,563,819
1,833
18,743
6,738

51.66!,726
28,937
648,623

Band, hoop, and scroll iron.lbs.
Railroad bars or rails, of iron.2)3
Sheet iron...
2)-*.
Old and scrap iron
tons.
Hardware
Anchors, cables and chains of all
kinds

3,711

59

',9 A
9,457,5 8
23, 54

732,730
40;),3'5

4.111,210

Machinery
Muskets, pistols, rifles & sport¬

219,695

0,051,4(59

314,5282

gold and silver

103.183
148 201

96/2?

2,99!,652

156,799
73,',020

318,137
1,338 981
66,13S

1,461
875,276

605,934

542,8.8

2,384,881

50 7 3

2,351,778

a,634

626

1,191

029

3.700,957

B>s,

197,016
l,cC3,095

lbs.

12,362,437

3,248,465

585 5 ‘3

*

15,225,921

162,286
2,213,1)94

701,240

12/20

6,065,171

^

3 f 96.881

622,212

3.739,061

46,442
4 58

595,861

*

865.133

1,039.407
773,811
CCS

Coal and other mineral
oils.gals
Whale and fish, not of Americ’n
fisheries
gals,

10-4

42) 4 8
146.772

2,263 379

376,563

51,882
194.U69

44.015

228.769

178,2 2
93,U75

gals.
gals.
All other vegetable, fixed., gals.
Volatile, or espential
lbs.
Opium, and exlractof
2>s.
Puintings,
chromo-lithographs,
Olive, not salad

342,872

238,503
1,805.906

3^8.311

2>s.

2,455,832

litharge
2)s.
Whiting and Paris White, lbs.
Other paints & painters’ colors.

786,119

168.070
56,4 2

2/60,323

12,863

Paper, and Manufac

ures

177,367

349,223

993,691

41,605

3,205

Provisions (meats,

27,039
11,270

5,910

413

92,143

130,361

2.480,214

ing vegetables
2)s.

Saltpetre {nitrate of potash).. lbs.

1,080,612
331,322
1,652,963

3,2*5,555

2,114,704

or

linseed

bush.

037/83
6,129/57

2 i6.843

1,659,521

13,810 670

5i2,.27

3 850,406

667

1,4 5,6 5

'

2,755.726

60J,2j9

Dress and

Soda, and Salts of:

Carbonate, including sal soda

4,951,OSS

25 *.

183,50 i 3)0

lbs.

and soda ash
Caustic soda

31,043,590

phos

anil all other salts of

131,699

4^8,90 i

3,14,645 217,360,868
1,064,705 3"-’,0*0/95

1,623,587

so

Sptees of all kinds: also ginger,
ground, pepperana niustard.lbs

11-/05

507,381

14,935,7.5

1,930,159

12,022,313

Straw and palm leaf, and manu¬

1,85',674

Sugar and Molasses:
Brown sugar.
lbs. 1414,254,663
Refined sugar
lbs.
19,^31
Molasses
pals. 39,026,200
Melado andsyruo Bug. cane.lbs. ?j,.U-,878
Candy and confectionery... lbs.
8,955

1,685

Sulphur, refiued
Tin, and manufactures of:

Cwt

2,375

18,500
6,668

In plates
Other manufactures of

cwt

1,770,631

10,005.799
02,514

1,916,249
378,121

lbs.
lbs.

Cigar3
Other manufactures of

Watchps and watch

653,654

3,710,460
2,871,157
76,901

q.|U gnu

30,188,963
39,461,057
40,1-6 <
29.039

1,987,578

Wines, Spirits and Cordials:
Spirits and cordials in casks,
gals.
proof
j Spirits and cordials in bottles,
Wineincasks
Wine in bottles

1,427, 120

doz

}

83.113

413 321

gals.

4,436,016
3'u4/j4o

2,084.885

doz

2

669/25

Wood, and manufactures

of:
Cabinet ware, house furniture,*
and all manufactures of wood

Boards, deals, plank, joists and
scantling

M feet.
Shingles
.........M.
Timber, sawed or hewed, wholly
...,

:

in part
Other lumber....
* Not elsewhere
specified,

536,524

333.9f6

38,279
••••
•••••

to

3,672,1(5
86.255

30,508
S24.883

361,564,519

123,314,677
7,218,341

10,697,640
151,842,510
329,565,8*3

Summary Statement, from Monthly Returns of Collectors of Customs, of Com¬
modities, the Growth, Produce and Manufacture of the United Stcites, Ex¬
ported from the United States durina the year ended June 30, 1877. compared
with the correspondingpernod Qf 1876.
Quantity.. Vaino.
Commodities.
Acids

1875-6.
1,60. 884

lbs.

Agricultural implements:

Fanning mills
Horse-powers

..No.
No.
No.
No.

,

*

Ie75-t;

,

Hogs.

No.

2,949
3.*,284
1,225,9.15

126
117

12,127
15,064

10,554
i.4,297

7,578
14,939

765,249
129,235
886,538

05,107

699,180
1,593,080
301,134

146 487

fc48,i 94
68,044

No,

No.

60,0ul
2,040
3,441

110,312

171,101

179,017

478.4.4
234.480

lbs.

1,309,861

949,815

53/70

No.

Sheep
Aliother, and fowls
Ashes, pot and pear].
Bark, for tanning.
Beer, ale, porter and cider:

75,597
13,007

37 876

29.657

7,045
99,310

144,244

40,432

69,159

70,720

51,077
4»,138
12,366
33,90 J
101,886
121,493

686,635

29,271

515,488

22 876

13.941

6?,5 6
81.401

.

cwt.

Bone-black, ivory black, & lamp¬

Brass, and manufactures of
Bread and breadstuff's:

Barley

.

512,175
256,9,4

....

bush.

Bread and biscuit
Indian corn
Indian corn meal
Oats

lbs.
bush.
bbls.
.bush.

bush.
bbls.

317,761
12.066,469
49,493.572
554,240

210 586

632,58)

83,265,280
1,305,027

1,466,223

588,563

543,841
7,553

480,083
Rye flour
39,054
Wheat
bush., 55,073.132 68,382,899
Wheat Sour
bbls
3,935,512 2f,4 3,470
Other small grain and pulse....
1,136,515
Maizena, farina, and all other

of

.......

40,325,611
3,343,665

18,033

Other
Combs

tons.

650 205
25.571

3,363

l,5*lV,475

398, *14
22.),811
734,624

1,6:6/63

1,86 ,4J4

413,3 9
967,5H

172.000
2

4,4u8
666,018

599

538,937

1,025,586
41,264

35,239

321,665
418/91

1,024,711
1,891 351
8,999

-4,185

Ore
cwt.
In pigs, bars, sheets and old.lbs.
Other
81,187/04’ Cordage,manufactures of
rope, and twine of all
28.043.
kinds
lbs.

7,808 257.

3,728,619 Earthen and stone
2,0 2,347 Fancy articles
81,231 Fruits:

ware...

Preserved, in

cans or

93,583
4,192,630

13,461,553

2,71S,<13
195,730

2,126,5:4

271,0,0

2,564,870

323,8S8

941,803

3, 94,721

l,084,5f9

191,7i7,45.- 1441,974,406 170,0 3,999
1,455,462

29,6b 1,304

5,31-1.788

76,769,147

952,7*8
2,4 1,183

.

713 340

177,298

1.9.9.957

,

623,209
87,355
c35,310

73,-40
19-/59
67,915
221,761

210,177
327,422
4/93 883
27,952

and fur skin9
Gas fixtures and chandeliers

lbs.

E50,624

646 9,4

Glue:
lbs.
Gold and silver, and m’factures of
Gold bullion
Gold coin
*....
Silver bullion
Silver coin
Gold and silver loaf...

24/83

628,1*1
5,793

....

2,484 131
6,4*7/23
1,314,489

8 9, 93

otnerwise

473,085 Ginseng
1,889,871 G ass and glassware..;

109,451

84,471
3,098,395
3.3,514

#

...lbs.
Apples, dried
Apples, green or ripe
bush.
Other fruit, green, ripe or dried

21,432

15,304
14,304,160

1,654 165 Cotton, and manufactures of: lbs.
2.641,791
Sea Island
5,857
Other, unmanufactured
lbs.. 1488,1760,543
48,868
Colored
yds. 16,4>8,2i4
Uncolored
yds. 59,ol9,267
9,751,327
All other manufac’tires of
39,332

Flax, and manufactures of.'1

2,854,128

2,189,32-2
7,5:9

707,473

357,934

7,170
224,679

708,541
626,031
41,6^1,2-45
1,5 1,152
1,150,68;
1,822.766
39,672
47,135,562
21,663,947
876,665

1,186,129
11,872,952
70,860,981
447,907

2,336

8 0,7*1

69,189

634,315
321,817

breadstuff's

233.144

3,146,093

67,176

223,276

In bottles.......
..doz:.
In casks
pais.
Bells and bell and bronze metal..
Billiard tables and apparatus

preparations

18,895

24 617

.

443

798,175

74>9]0

670,042
1,11",703
234,9-4
224,860

Horses
Mules

1,461,652 Furs

815,271
34,190

357
62

No.

2,236,889

18 b 7

2>S95,523

51.593
2 030
1.7?4

No.

1,330,143

309,995

Til?9,'
18 <6-7.

50.3C0

Animals, living:

freight

772,432

1.155,231

t Except articles specified in tie note




7,551,583

1,456,809

1,357,872

492,(97,540

DOMESTIC EXPORTS.

Dyestuffs

movements

and materials

310,534,674
181,562,866

3,441,432 Clocks, and parts of
1,114,045 CoffVc, cocoa and spices, including
ginger, pepper and mustard....
tons.
8,906 Ooal,l>ituminou8.

1,437,695

77.713

4/07,484

321,139,500

Brought in foreign vessels.

Drugs, chemicals and medicines..

,832 974

-

12,148,667
143,389,704

vehicles

5,000 393 Candles, tallow and 01 her... lbs.
Carriages, carts, and parts of
107,169 Cars, railroad, passenger and

Tobacco, and manufactures of:
Leaf

64,956

1,273,301
1.256,387

476,677,871
338,987,753
128,5>7,978
9,122,140

Brought in cars and other land

1,679,"31;

65,70903

8,157,470
2,415,995

49,650,114

674,011
12,5(9,867
55’,941
3,951 861

3 8'6,815

Total imports
Entered for immediate consum’n.
Entered for warehouse
Entered for immediate transp’n..

Copper, and manufactures of :

factures of

9 939

.

533/39

320,379.277
156,298,594

'

6,057,016
fi>8.

27,854
301,(26

Total dutiable
Total free of duty

--

77,776

Bicarbonate

5(-5,7P8

4,<31,722

33,265

1,298,129

B,435,0S6

*

used as food
M.
16 750,826 Bricks
78.v40 Brooms and brushes of all kinds.

17,620,575

....

Other manufactures of

sulphate,

724,252

,

piece goods

Hosiery

or

merated

Rye

058,103
1,77b.445 901,209,604

Silk, Manufactures of:

•,

or tutenag, and
manufactures of:
In blocks or pigs
lbs.
In sheets
lbs.
All articles not elsewhere enu-.

7,156,944
6.624,969

671,593

publications

poultry, lard,

Salt

54/98,625

Zinc, spelter,

black
.lbs.
8,944
100.134 Books, pamphlete, maps,and othi r

1,07,692
384,672

bush.

169,925

1,521,092
14,216,221

*

Bones and bone dust

butter, cheese, &c.) not includ¬

!

Other manufactures of

715,747 Blacking...

.

parchment........!

/.
Precious stoues

173,006

15,675
185,549

Perfumery and cosmetics
.

2.626,049
383,862
2,3-*0,333

791.-39

of:

Printing paper
Ibs.
Writing paper
Paper hangings and other paper
Papier-machfe, and other manu¬
factures of paper, including*
Potatoes..

1,118,736

yds.
Dress goods
yds.
Hosiery, shirts and drawers....

.....

White lead
Red lead and

42,171,102

45,372
1,4.73 306

213,52?

...sq.
...sq.

Horned cattle....

376,731
114,650
169,316
231,533
1,788,347

154,539

1,675,6.1

Paints:

1576-7.

28 7c.9

Carpets

Mowers and reapers
Plows and cultivators
All other

847,041
5 4,530

63,286
323,357
60,687

102,881

Olive, salad

',713

3,12 ,919
537,014

1,216,796

Musical instruments
Oils:

Value.

1876-7.

,

7,447,423

667,982

*

quantity.

8,247,617
9,8*8,449

44,6-42.837

Brought in American vessels

Heather, and manufactures of:

Acetate,

.lbs.

Blankets

2,563 828

(50,368

Manufactures of

Seeds:
Flaxeeed
All other

Unmanufactured

Cloths and cassimeres
Woolen rags, shoddy, mungo,
waste and flocks
lbs.

135,587
13,5,7

3,536, *25

Jute and other grasses, and manu¬
factures ofit
Raw
;
tons.
Manufactures of, by yard.sq. yd.
Gunny cloth and gunny hags,
and manufactures of, used for

i

2,072,845
c,344

Value.
1875-6.

Wool, sheep’s, and hair of'the
alpaca, goat, and other like ani¬
mals, and manufactures of:

Shawls..

,

20,403

*

manufactures of

,

219.204

Jewelry, and all manufactures of

Metals, metal compositions, and

•

1,0-8,508

-

Leather of all kinds
2>s.
Gloves of kid, and all other, of
skin or leather..... doz. pairs.
Other manufactures of
Marble acd stone, and manufs of

•

1,8 M59

Files
f.
Saws and tools
Other manufactures of iron and
steel
•

Head, and manufactures of:
Pigs, bars, and old

•

498/87

Cutlery

bagging

12.659

•

7^5,953

ing guns
....
Steel ingots, bars, sheets
wire
Railr’d bars orrails, of steel 2)s.

Other manufactures of

404,732

133,326

•

25s.

27,777

1.556,415
3,144
1,515.' 91
1,1Hz

71,2-0
56,4:9.703

Quantity.
1875-6.

of:

Pigiron
Castings

1 7

1/88 89 )
27.5;2,8.'l
15, <40,3 41
6,36i ,590
744

14.318,051
1,146,929

‘

920,292
986! 12

2t8,28 *
7e2,344
3.78S,302
26,890

440,106

81*, 685

5*»2,268
6 8,061

16.0*9
1.034.536

21,274 555
11432,-94
9,2a2,74*
141

Jewelry,
tures

and other manufac¬
of gold and silver.....

Hair: Unmanufactured
Manufactures of
* Not cke-.vheu
specified.

76,897
310/61
6.254

132,499
338 487

9,896

18

TRADE AND

Commodities

Quantity.
1875-6.

Hats, caps and bonnets:
Of wool, fur, and Bilk
Of palm-leaf, straw, Ac

7,528

.

Hoop skirts
Hops

lbs.
tons.

9,191,589
61,253

rubber and gatta-percha
manufactures:
Boots and shoes
pairs.
Other manufactures

Iron, and manufactures
Pig

8,318

ly481

10,519

12,182

13,072

Spermaceti

175,750
695,625

«.

Spirits, distilled:

9,531,109
58,623

19,471

2,305,355

12,616

cwt.
cwt.
cwt.
cwt.

181,663

167,978
1,054

607,921

cwt.

Boiler-plate

Railroad bars or rails
Sheet, band and hoop

*0,042

67,109
6,004
269,322
132.930
128,660
661,559
74.363

Castings

,Car-whet Is

1,000

No.

*6,505

Stoves, and parts of
8team-engines, loci»motive..No.
8team-engines, stationary. No
Boilers fcr steam-engines, when
separate from the engines....
.

Machinery

5,370

2,7-9,439
381,236

10,210,148
133,888

Edge- tools

«

1/208

a

•

a

,3.6,659

•

•

a

.

•

cwt.

—

Lead, and manufactures of
Leather, and manufactures of:
Boots and fboes.
pairs.

4,812

38,714

a

721.012

Leather of all kinds
lbs.
Morocco, and other line
Saddlery and harness
Manufactures of
Lime and cement
bbls.
Manures: Guano
tons.
Substances used expressly for

*

2’3,508

368/33

31,917,001

8,394.580
948 980
67,7 0

•

a

•

300,484
,122,936

209,062

53,827

77,568
4,859

156

414,630

361,988
97,923

954

41,530

Marble and stone:
Marble and stone, rough
Marble and stone manufactures
Match •

2 6,255

Mathematical, philosophical

153,680

optical Instruments

917,363

aud

Pianofortes

m’factured:

Naphthas, benzine,

ine,
gals.

&c

.

s

Ac.)
gals.
Residuum (tar, pitch, and all
other, from
which
the
light bodi< s have been dis-

tided)....
Animal: Lard
Neatefoot&otheranima
Sperm

bbls.

gals.
.gals.
gals.
gals.
..gals.
gals.

Whale and other fish

j. Vegetable Cottonseed
Linseed

Volatile,

essential
Ordnance stores:
"
Cannon
Cannon and gun
carriages and

824,?56

900,056

287,119,800

2,188,623
164,617

5,774,585

,670,940

20,550,397

*,220,268

,819,202

3,756,729

14

1,442,811

or

.

Shot and shell

lbs.
lbs.

Ore, argentiferous (or silver-bear¬
ing)
cwt.

Paints and painters’ colors

780,236
*04,814.673

28.755,638

963,442

303,863

61,462
146,323
22,631
892,762

193,2'6
149,156
2 ,498

1,366,246
436,072

1,067,515
*81,054
80,331
•

-

•

•

146,135
23,770

248,270

•

375,873
1,914.036

67,887

510,823

9,894

131,211
179,822

Tbs.
lb*.
lbs.

Condensed m:lk

Eggs
Fish,
Fish,
.Fish,
Fish,
Lard

327,730,172 39,684 456
36,596,1'0
3,186,301
4,614,894

97,676,264

bbls.

54,29i

..lbs.

Meats, preserved

1,109,49.

12/70,083
118,549
8.300

900,306
80.8:9
417 281
2 102,5 2

168,405,839 22,429,485
998,052
214,19;
19,<86

Oysters

Pickles and

sauces

Pork

lbs.
bueh.
bush.

Onions....
Potatoes
Other vegetables

Vegetables, prepared
served

54,195.118
M 816
704 379

5,744,022
54 0! 5
43 4-13

119,386
or

19,932
634,991
,0i6.U38

705,422
59,495

2,711,584

Woolen
Rice
Salt
Scales and balances

lbs.
lbs.
buch.

313,934

51,014

Btgds: Cotton

80 9H
18.378
154.931

lbs.
hush.

5,164,546

09,005

ags:

Flaxseed or linseed
Not elsewhere specified.

.it

160,666
40,632

8,862,793

821,530

5,434,922

I*.501

4 992

l*,c00

38,327

126,632

136,7*4

3,944,739
255,911
846,4 0

305 201

4,322,252
349,456
321,790
9,029

476,312

*

3.073
•

•••

••

616,197

3,463/52
138,653
1,514.935
342,860

.yds.

8,315

13,843
6/86
3.9,3i 3

10,178
134,542

66,259
1 ,651

9,518

413,321
499.822

*0,640,259

3.124.412
60,059
1.709.412
323,839

1,373,049
7P,599
22,479

£6,445
16.377

275,460
6,428

34,463

1,419,722

115,122

795,450

793,297

2,152,6 8

4,890.825

78.817
439.991

98

1,740 293
>',675
26,3 4

257

317,355 Summary Statement, from Monthly Returns rf Collectors qf Customs, of Foreign
Commodities Expored from the United States
281,551
during the year ended June 30,
1877, compared with the corresponding period of 1876.
19,720
879,865
Commodities.
442,165
Quantity.
Value/ Quantity.
Value.
Free cf Duty.
842,248
1875-6.
1875-6.
1876-7.
1876-7.
43,435 Argols
lbs.
30,000
4,037
401,829 Barks:

Medicinal—Peruvian, calisaya,

Lima, Ac
Used for tanning

1,317,061

7,799,122
3,229

2,325,570
248,925
2,161,866
44,950
186,050
1*0,513

....Tbs.

68.745

cines

.

Chloride of lime or
der

•

Cocoa, crude, and

....

Coffee.

Tbs.

3\59i
159,618
76,227

4C6,738

2,486,225

234,741/33 25,562,665
3.939 977

260,620
45,361

69,671,894
52,328
529,65 J

3,894,311
102,874
13,704

1,306,982

6,296,414

10,309,294

159,231
180,062

3

8

246,844

50 851

621,318

85.641

5/933

8,881 45Y
224,497

1,625.932
37,322

9,890,715

676

1,907

124

62,360

111,355

*2,630

28,6,8

2,885

Eggs.

«

Fish,not of

13,3 5
4,515

1,903

9,088

teries:
Tbs.

Fresh, of all kind*..

•

885

All other

1

Fur skins, undressed
Gold and silver:
Oold bullion
Silver bullion
Goldcoiu
Silver coin
Guano (except from bonded
tons

49,064

•

89/18
77,532

J

11,600

crude

......

1.733.693

...

16

964

527,000

75,451
13,-0 >
54,703

lb*.

74,435

5

9,624

216,041

2,757

181,382
21,003

77,190
25,11*
4,201

44,415

78

231,982

142,569

179,707

66.124

42,457

lbs.

Vegetable, fixed or cxprVd.gals

8,462,059

743
,

67,511
334,167
4,163,762

4,706,3:3

isPds)

extract
.....iba.

Not elscwhcic specified.

32/20
118,089

15.995

Tbs.

Indigo
Madder, not Including the
of

•

.w....

,.

Gums

Oils:

277,949

.

American i

Hair, unmanufactured
lbs.
Hides and suing, other than furs..
Household and personal effects,
and wearing apparel, old aud iu
25,982
use, of person 4 arriving from
1,707.268
foreign countries
5,719 India rubber aud
gHtta percha,
1,140
78,112
20, 33

252,673

8,755

48,081
533,167
90,536

65,771

•

a-japon-

8,429
114,338

•

6b 986

lbs.

12 ),801

791.785

•

868,359

159,746

7,503,475
4,424.616
l/,7i0.(«7

7,006

leaves and

149,772

21,527,242
107,364 6.6

39,379

lbs.

938,218

47,512,412

•

bleaching pow¬

269.785

460,057.148
1-8,366, M3

13.376

Chemicals, drugs, dyes and medi¬

*




57,408

83,483

1,5,5,602

All articles not enumerated
All other unmanufactured art¬

11,538

13,886

lbs.
Iba.

Su'ckt-ilver.... linen
Cotton and

•

76.110

349,429

pre¬
.

i

509,028

676,115^92

119,749

29,633
175,528

doz.

71,708

644,956^406

94,563

cwt.

dried or smoked
fresh
pickled
other, cured.

215,:J27

4,980,870
156,030,514
515.104,208

875,011

type

Beef
Butter
Cheese

*

lfO 5f 2.954
48 >,002,627

795,176

Provisions: Bacon and liams.lbs.

276,89i

5,853

Shippei in cars and other land
vehicles
,140,183
1,816,682
,441,844 55,401,132 Shipped in American vessels
Shipped in loreign vessels
601,053
497,540
Grand total.

29G.631

of silver or other metal

presses and

6',127
579,595

77,857
84,461

6,133
65,944

1,322,'. 55

10,270
549,859

Perfumery

Printing

9,000

186,802

All other manufactuied articles.

24,060

Paper aud stationery
ware

48

RE-EXPORT Of* FOREIGN GO D8.

Paintings and engravings
Plated

160,410

61,178

130,847
105.796

,

2,284,378

2.492

40,405

6.6 5

icles

Cartridges and fuses
Gunpowder

72,189

3,154,564
131,082

5,897
20,397

cwt.
,.lbs.

Other

38,161
1,9.8

63/36

104,768

4,818,145

69.138

aocoutrement*

‘

& bedM.
M.

Household furniture
Wooden ware
All other manufactures of wood*
48,848
Wool, and manufactures of

mauuiactures of.
12,679 Zinc and
manufactures of:

6,390

'

.

252,407

173,812

578,864
330,156

276 5 >4

gaso

Illuminating
gals.
Lubricating (heavy paraffine,

'

917,937
—

632,949

All other..
N ^val stores:
Rosin and turpentine......bbls.
Tar and pitch
bbls.
Oil cake
lbs.
Oils: Mineral, crude
(including
all natural tils, without re¬
gard to gravity)
gals.

,

131,716

47,744

Organs, melodeous, Ac

or

1,076,602

95 480

Muaioal instruments:

Minerals, refined

81.915

gals.

*

..

*

154,500

—

78,341

manures

218,610

Box shooks
Other shook-, staves &
headings
Hogsheads A barrels,empty .No.
152,228
All other lumber
Firewood
cords.
3,032
Hop. hoop, telegraph, and other
poles
Logs, masts, spars, aud other
whole timber
Timber, sawed & hewed.cub.ft. 21,i86,414
All other timber

6,016 373
1,280.225
91,085

37,634
7,883,616
87,057

1,150

1,97*

....

slats

594,547

2,533

100,000
165,484

Tbs.

Shingles

91,472,803

4,793

.

sticks, broom-handles

2,406,952

64,906

lbs.

'.

6,618

4,586,693

23.407

19,325

joists, and scantling.. M. feet
Laths, palings, pickets, curtain-

243,313
49,835

,

6,734,318

86,668

Boards,clap boards,deals,planks,

306,981
37,413

1,158,585
32,245

85,833

89,665,486

133,591

gals.

5,259,813 Wood, and manufactures of:
5,690

5,552*587

804

Whalebone

2,274,639
454, *82

61,535

2 S54

7,023

Wearing apparel

8,667,816

2,804.955

tons.

Wax

2,363
6,796,927

19,854

10,551

tons.

-

489.174
285.979
5,311

647,331

918,810,265 22,787,883 882,386.426 28,825,521
707

gals.

foreigners:

Vinegar
Watches, and parts of

15.661

a

a

sold to

Steamers
Sailing vessels

319,584

•

M.

36,3o9 Wine

2 6.633
3 >,875

168,838
102, 26

2.698,363

•

•

3,667,050

Lamps

Vessels

3/61,767
140,6S6

.B>s.

8,403,685
1,652.487
11,549
627,403
41,027

1,008,741

766

1,672,068
524,956

48,144

Snuffs
lbs.
Other manufactures
Trunks and valises...
....:,
Umbrellas, parasols and sunshade?
Varnish

54,038

••

264

03,666
457,259

of:

Cigars

70,013
•

8-8,681
37,2 2

saws

Muskets, pistols, rifles and
sporting guns

Leaf

568.‘02

53

'

1,088,133

72,432,775

Tobacco, and manufactures

21,518

53

180,381

gals.
gals.
gals.

Tin, and manufactures of

243,Ml

218,279
122,039
113,321

a

7,617

43.706

Manufactures of steel
Jonk (old) and oakum

.

3,619 8 9

Ingots,bars,8heets&wire..fl>».
Cutlery

14,205

4,989
•

103,429

Nails and spikes
lbs.
All other manufactures of iron.
Steel, and manufactures of:

89,029
194 15
F

141,157

...

27,445

192,037
63,601
59,622
2,611
105,781

11,007
673,732 -10,122,787
85,915
153,552

10,057,478

5,178,934
Starch
lbs.
Steam and other fire engines and 0,685,552
apparatus
Sugar and molasses:
Sugar, brown
lbs.
22,714
Sugar, refined
lbs. 61,840.977
Molasses
.gal*. 4,408,412
Candy and confectionery
Tallow
fcs.

21i,0i4

Value.
1876-7.

1875-7.

1,348,750

gals.

From molasses
From other materials
Spirits of turpentine

Quantity.

1,700,793

all toilet...
5>s.
lbs.

From grain

2,480,427

169,315
155,837

other

Perfumed, and

Value.
1876-6.

18:5-6.

Sewing machines, and parts of...
Soap:
Other

'

ol:

Bar...

( Fi.es and

7,287

Quantity.

Clover, timothy, garden, and all

43,599
116,936

-

147,009
737,042
2,905,921
1,384,521
176,561

Commodities.

262,271

48,'.37

22

Ice
India

;

Value.
1876-7.

1876-7.

13',017

870

11,200

All other manufact ui es of.
Hides and skins, other than fur..

,

Quantity.

198 618

Hay
tons.
Hemp, and manufactures of:
Hemp, unmanufactured
cwt.
Cables and cordage
cwt.

.

Value.
1675-6.

COMMERCE.

86,521

32G,607

188,618

TRADE

AND

Quantity.

Volatile, or essential
Paintings, statuary, and

1875-6.

tbs.
' other

Value.
2875-6.

Quant'ty.
1870-7.

ValutK
1876-7.

2,310

3.S1D0

works of art of American artists

Rags of cotton or linen1,

fibs.

Other materials
Seeds
Stilt, raw

fibs.

Tea

fi>s.

50

Tin, in bars, blocks <fc pigs...cw
Wood, unmanufactured

3,359

1,7*6,908

18,900
874,574

801

33,515
1,503,937

19.988

676/66

153

2.809

.

209,7(9

19« *,281
190,635

70/64
845,783

10,493 823

17,507,204

All other articles

of,duty,

Dutiable.

Animals, living
Beer, ale, porter, and other malt
liquors
gals.

22,970

34,131
26,993

Books,

pamphlets engravings,
publications
Bruss, and manufactures of
Breadstuffs, and other farinaceous
and other

,

20,1 07

k

10.0 1

35,462

25,396
22,377
2,246

.....

4,687

food:

Barley
Barley malt

bush.

Oats

Rice

21,354

bush.
lbs.
bush.
Ib9.

Bread and biscuit

12 9 6

334

7,094

1,368,706
10,451

5 7,924

406.553

197,153
1,392.484
50,803

98,120
464,453
1,040

456,746

6,0.5

2,308

*

fibs.

4,355

/

352

11,188

27,876
16,510
2,854

3,557
*

,....tons.

"370

47,422
1,475

932

cwt.

84.834

3,718
207,119

98,178

13,023
254,838

fibs.

169,177

17,890

161.181

18,335

Bleached & unbleached..sq.yds.

2,286,609
4,400,036

191,r26
456,471
24,520

2,631,910
3,328,721

208 899

325,639

305

135,874

11,386
22,132

Pigs, bars, ingots, old and other,
.fibs.

Manufactures of
rope and twine, of all

Cordage,

Cotton, manufactures of:

Printed,painted,or col’d. sq.yds.
Hosiery, shirtsa'>d drawers
Jeans,deiiimp,crill’gi?,&c. sq.yds
...

ufactures of
stone and China ware...

mai

426,552

12,762
58,372

Raw
tons.
Manufactures of, by yard..
Other manufactures of
•
Fruits of all kinds, including nuts
Furs hi d dressed fur-skins..
Glass and Glassware:

13

31,487

polish¬

polished plate, not sil¬
vered
....sq.ft.
Cast polished plate, silv’d.sq. ft.
......

Other manufactures of
Hair (excepting that, of the alpaca,
goat and other like animals) and
manufactures of:

7* 952

64.284

153,778
172,241
€3,936

289
236

313,4'9
53,398

2,450

081

19,490

tons.

Other manufactures of
*
Hides and skins, other than furs.
India rubber and gutta-percha,
manufactures of
Iron and steel, and manufactures

Pig-iron.

1,525

Hardware

tons.

300

kinds

lbs.

158,464

bars, sheets and

Railr’d bars

rails, of steel,fibs.

wire

or

Files
8aws and tools
Other manufactures of iron and
steel.
1

196,912

1,590

200,757
9,705

4.842

8.645
4v3

8,133
154

612.038
3.621

851,320

6,283
*

376/72
7,057

7,916

1,792,200

45,646

116,317

9.843

2^9

4,768

lbs.

Seeds

87,8^3
2,800

3.439

29,771

32,694
#

284,670

7,464

4.128

6,375
6,520
1,168
33

1,267
48,943

8,370]
31.664

649»

5,2031
S5

4,851.

8,4.5
35,112
4,604

794

3,238

20,482
1,980

4,6iH

234

13

41

17.840

38,744
2,457
64,694

19,247

Acetate, sulphate, phosphate, &
all other salts of soda

fibs. •

Spices of all kinds; also ginger,
ground, pepper & mustard..fibs.

Straw and palm-h af, and manu¬
factures or

Sugar and molasses:
Brown

3,014

5,208

162

6,160

4,045

1/50
1,S27

14,739
2,334

6,505

930

1,769
17,013

53,746

79,631

5.771,849
321,576

120,618
7,993
13,249

51/3C
64 478

5,231,446
743,900

9,965

170,447

8,893
27,543
41,391
72,952

126,Gil

2,452

86

94,365
814,226

1,728

42,833

665

31,083

663,951

24,652

12,501

486

914,929

121,154

1,022,366

1G1,48G

75,128

fibs.
of

12,599,772
121,215

gals.

cane

sugar
fi>j.

Candy and confectionery...fl>s.
Sulphur, refined
cwt.
Tin and manufactures of:
In plates
cwt.
Other manufactures of
Tobacco and manufactures of:
Leaf
lbs.

Cigars

fibs.

Wines, spirits and cordials:
Spirits and cordials in cask*,
proof
gals.
Spirits and cord’ls in bottles.dz.
Wine in casks
gals.

Wine in bottles
doz.
Wood and manufactures of:
Cabinet ware, house furniture
and all manufactures of wood *

joists
M. feet.

•

•

•

1,058,815
3,145,520
4,093

104,963
1,046
•

•

385

302,891

74,113

36.996

600
3 6

1,6 5
1,086

44,416
2,651

742,698
61,702

228,937
168,391
30,950

264 860

9 “,34 5
155,079
39,891

61,319

3,141

1,028

78,415

61,417

78 339

4,318
102,782

16,317
47,087

8 033

8,237

44,523

104,223
10,943

68,382

243,758
420

32,131

5,023
26,873

1,518,428

..

81,654
2,455

1,336,741

fib s.

79,830
,

1,958

174

32,712
4,274
119.133

197,870

31,018

307,585

472.5*9

4,671
149,093
2,635

100,359

tutenag, and
Tbs.

67,425

174

7,424
42,477
12,062
1,230

9

43,960

24,488

318,478
58,860

1,654
80,079

62,034
35,005

72,672

Wool, sheep’s, and hair of the
alpaca, goat, and other like ani¬
mals, and manufactures of:

manufactures of:
In blocks or pigs
In sheets
All articles not elsewhere
merated

2,683

8,091

hewed,wholly

Other manufactures of

169,373

6'33

32,932
4,265

or

sq. yds.
Carpets
Dress goods
—sq. yds.
Hosiery, shirts and drawers

62,181

4,930

210

Unmanufactured
fibs.
Cloths and cassimeres.
Woolen rags, shoddy, murgo,
waste and flocks.
fibs.
Shawls
Blankets

•

8,077,622

24,370

M.

•

521,793
11,888
259,711

Other manufactures of
Watches and watch movements
and materials....

12,477

849

enu¬

163,720

145,154

10,776,215
10,493,820

8.325,291
17,5u7,<C4

21,270,035
10,211,633
11,058,402

25,832,495
7,902,131

_

Total

232
327

11,900

2,262

17,930,364
263,146
157,876!
other laud
1,933,662
p * Not elsewhere specified.
1.7*6,800
t Including brown hollands, burlaps, canvas, cratings, crash,
7,123,513
diaper, duck, Shipped in American vessels
8,793,700
handkerenids, huckabacks, lawns, paddings and all like manufacture* or Shipped in foreign vessels
12,212,860
15,250,491
which flax shall be the material of chief value,
♦Not elsewhere specified.
t Exceptrarticles specified 1n the note to *' Flax and manufacture* of.”
+ except articles specified in the note to “ Flax, and manufactures cur.”




111

515,468

396
53

fibs.

sugar
Refined sugar.

From warehouse
Not from warehouse
Shipped in cars hd
vehicles

5 691

263, bli

sal-soda
7b-*.

Total dutiable
Total free of duty....

357,318

1.705

68,849

fibs.

or
in part...
Other lumber...

17,857

189,700
fibs.

scantling

13,372

5,776

Other manufactures of.

Shingles
Timber, sawed

24,985

92,395

288

planks,

106,762

2,283

7 283

Silk, manufactures of:
Dress and piece goods

Boards, deals,

882,765

465,693

•

fibs.

Molasses
Melado and syrup

95,420

2,904

.

and soda-ash
Caustic soda

29,1'4
2,683

65

106,725

bush.

Zinc, spelter, or

68,273

ing guns

Steel ingots,

3,597

1,354

Anchors, cables and chains of all

Machinery
Muskets, pistols, rifles & sport¬

19.329

3,939

1,007,320
15,300
Bar-iron
fibs
139,433
Band, hoop aud scroll iron..fibs.
4, ‘41
Railroad bars or rails,of iron,fibs. 27,832,699
Sheet-iron
lbs.
40,283

iron

12,857

797

fibs

Old and scrap

475
319

15 616

fibs.

Castings

9S

550
797

13,933

Hemp, and manufactures of
.

Potatoes
Precious stones

and

Other, and manufactures of.•
Raw

BO

18,768

Human, and manufactures of..

Cutlery

61,822

sq. ft.

Cast

!

135,854

1 45

common

fibs.

and crown,

ed

81.780

19,6 7
55, 05

Flax, and manufactures of:t

Cylinder

65,8 6
22

Mackarel
bbls.
Sardines and anchovies, pre¬
served in oil, or otherwise...
All other
*

or

131 392
] 8,091

166.590

Fan- y goods
Fish, not of American fisheries;
Herring
bbls.

crown

279

31.241

...

Bicarbonate

10,513

window

Perfumery and cosmetics

39,218

8.152,885

lbs.

Red lead and litharge
Other paints «fc painters’

97,470

18,981
8,437

Oiive, not salad
gals.
All other vegetable, fixed...gals.
lbs.
Volatile, or essential
..lbs.
Opium, and extract of

chromo-lithographs,

981

13,371

1,°(*9

photographs, and statuary

7.50l

75 369

gals.

Carbonate, including

971

Cylinder,

3,725

Soda, and salts of*

..

Earthen,

156,866

52/36

Paintings,

1S76-7.

585,915

586
-

manufactures of
Musical instruments.
Oils.
Coal and other mineral oils,gals.
Whale and fish, not of Ameri¬
can fisheries.
gais.

Saltpetre (nitrate of potash).. fibs.

Cocoa, manufactured, not includ¬
ing chocolate..
fibs.
Copper and manufactures of:

Other

17,068

Metals, metal compositions, and

Salt

together

kinds

fibs.

Manufactures of
Leather, and manufactures of:
Leather of all kinds
fib*.
Gloves of kid, and all other, of
akin or leather.
doz. pairs.
Other manufactures of.
Marble & stone, & manufact’s of. *

Vaiue,

1876-7.

18,422
•0,888

182,318 Provisions
(meats, poultry, lard,
butter, cheese, &c.), not includ¬
346
ing vegetables

ton or wool:

unmanufactured

Lead, and manufactures of:
Pigs, bars, and old

408,099

Printing paper
fibs.
Writing paper.
Paper hangings and other paper
Papier-mach6 and other manu¬
factures of paper, including

except hosiery, &c.,) of cot¬

Ore...

•

Quantity.

325,102

colors.
Paper, and manufactures of:

3,236

144,165
9,5 6

Clothing (except when of silk and

Coal, bituminous

1,181

Gunny-cloth and gunny-bags, &
mauuf. of, used for bag’g.fibs.

Other manufactures of

Value
1675-6.

19,335

parchment

prepared, and

wear

*

55 813

4,642

7,903

cines

Articles of

gold and silver

263,916

366,813

58.611

2,056

Chemicals, drugs, dyes and medi¬

Cur. aud sewed

Jewelry, and all manufactures of

Paints:
White lead

includl* g
bulled

exclusively
or

945
3 9, 35
6 ,973
5 2.L85

2,387

or

Bristles
fibs
Buttons of all kinds, including
button materials partly fitted

root

1675-6.

Olive, salad

"

15,4^4

All other farinaceous f< od, and

Chiccory, ground

34,838

14,483,6 5

wheat

for buttons

49,920

46

15,575
16,610,614
291,048

Peas, beans, and other seertsof
leguminous plants. ....bush.
preparations
of,
pearl,
barley, <fec

Quantity.

..

Rye
bush.
Wheat
bush.
Wheat flour
bbls.
Meal or flour made from oats,
Indian corn, rye, and buck¬

arrowroot,

Commodities.

Jute and other graeses, and manu¬
factures of:f
Raw
tons.
Manufactures of, by yd.. sq. yd.

Paper materials:

„

19

1

Commodities,

Total free

COMMERCE.

m

Si

THE MONEY MARKET
1866.

to

3 877-

The

working of the money mirkefc during the eventful
period from 1860
important chapters in the financial history of the TInited States.
Beginning with January, 1866, the opening of the first year
of
after the end

then

to 1877 forms

one

of the most

the war, we find that there were
national bank notes.
The full

outstanding $426,231,390 in U. S. legal-tender notes, and
$213,239,530 in
amount of
$300,000,000 in national currency, authorized by the act of June

3, 1864, was issued by the close of 1867.
two years 1866 and 1867 the contraction in
legal-tender notes was made by Secretary McCulloch,
which is often referred to as the
main cause of all the financial
difficulties which culminated in the crisis of
September, 1873. We have prepared below a table
showing the actual amount of legal-tender notes (green_
backs) outstanding, the amount of these required
by law to be held by the banks after deducting other
items allowed to be held as
reserve, the balance available as
circulating medium; the amount of fractional
currency, and the amount of national bank notes
outstanding at various dates, from January, 1868, to October,
1S77.
To these is
appended the price of call loans and prime commercial
paper in New York in each week of the
months named, 1S06 to 1877 inclusive.
If the contraction of
legal tenders was the main cause of financial distress,
the greatest pressure in the
money market should certainly have occurred in the
years 1866, 1867 and 1868.
But
it appears that there was no
great pressure in those years, and
only in exceptional instances were the rates for
money higher than 6@7 per cent. The fact is
indisputable that the contraction took place in 1 6 » and 1 67, and the
frightful pressure in the money market began four
years later, about October, 1871, and continued with little
intermission for
nearly two years, till the bubble burst in September, 1873.

During the

Green¬
GreenDate.

backs

standing.
•

I860. Jari.

1..

$

18 >7.. Jan.

1..

1..

Apr.
Only

.

..

Oct.

4-6,231.390

July

..

Oct.

18.9.. Jan.

1..

June!*.
Oct.

9..

1870.. Jan. 1..
June 9..
Oct. 8..
1 ’ll..Jan. 1..

Apl *9..
June (>..
Oct
2..
18~?..Juii. 1..

Apl. 29..
Junel ’..
Oct. 2
1 T..Jan. 1

$
•

399,115 292
380 497,642
375.417 240

•

,

•

,

•

,

9

p

m

,

,

,

•

•••

v•

•

•

301,1(4 844
350,159,127 42,1(3,391
3 0,141 723 25,453,182
3 6(21,(73 29,550.1 87
3 6.021,0;3 22.057,290
3; 5 9 6 431
3\414,8v2
3- 6,(00 0C0 35.561,481
356.000,0-•(, 8,740818
356.000 ( 00 26,881.891
356.000. (CO 36.706,156
356,(CO,0(0
3 6 0 O.i 0
81,900,000
<: 56,000/00
84,310,000
3.6(00, 0 i 2 490 0C0
,

-

.

.

..

,

..

.

.

57.510,COO

....

gold

.

notes.)

country.

.

93 887,941

40,767.877 318,043,841
5r0,e(ii 86 7CO.OOO 270 800,000
43,179,650 825,3(5,752 (39,285,402
00 87,000.000 270,5(0,100
42,310,707 327,092,752 639.! 03,45!
35
0 0(-0 96,CC0,00'.'

40,480,437 3:3,495,027
45,722,061 336,289 285
45 664 G25
338,1(3 684
44,799.365 888.738,504
4 >.229,391
39,081.799
4',544,792 340.9-72,22(*
47.43ri.620 346.088,649
45 881.235 338,538.74:;
46,7 31,018 3 3.2*5,21:8
46,290 598 332.043,937

.

....

,

M»y 12..

•

•

.

..

.

.

»

»

.

....

70,5.7 «;o 40,200,600
333.327,8; 6
June 0..
369,772,284 •'5,700',00 334d72, at
Oct. 2.. 3 i
8,494 470 38,8(0,0^0 3 9,094,470
187...Jan. l.. 306,055 0:4
pi. 14.. 361,454.104 32,6
0,0 0 323,R94,4C4
Juni2.>..
59.764 332 59,900,010 2-.
9,86.i.332
O t.
1.. 356.914,932
3
P

J

.

3 '0943 776

42,200,000

633

415,464

2

26,316.206
22,18i.575

656,725 269
676,6 0,036

716,456,316
685,483.655
686.449,40
673 8.5,078

7. 64 108

5-6

7-9
6-8

4-6

5

6 lA- 8

5-6

6-8

*X- 7
4k~ 6

5-7

5

4-5
4-5

5-6

4-5

7-8

r*

5-6
7-8

6k~ 7*4

t*/*- 7

4 - 6
4-5
7
5-6
3-4
7 -10

7

7-k pd.
5-7
7 4-5

7

4

-

4
7

6

6-7
4-5

6-7

4-5

-

-

7*$

7

7

4-6
6-7

6k~ 7

-

6

454- 5

2-3
7k 6
7g
-12
4 -7 1-3

7
1

-

•

-

8

-1U

6

-

-'g. 12

6

-

5-7

7

-

7-14

4-6
3

1g
7-Jipa. 9 -12
-1-16 pd
nominal. 1-64-)$ pd
7g-^pd.
-1-3.
3-4
2-3
2 !4- 5
2-5

2*4“ 4
2-3

254- 4
-

7g.

-

4k

2-4
2-4
6

7g.
2y.- 6
-

7

-

7>*

3

-

-

5-1-32

8-9

*

-

6

pd
7

6-7

2-4

J1A

2-3

5

-

6

-

7

2%-m

.

5>;- 3

i

4-5
4-6

2k-

5*4- 7
6k - 74
5-6
4
5-6
-

5»44-5

l - 3
4k
4-7
6-8
7-V pd. nominal.

-10

7
Ik
6-7

5

-

7

-

5-7
2-4
5-7
7 -3-16
7
U
4-6

6-8
7

1

6-7

..

7-8

7
6

54- 7

7-^pd.

-

7-8

-..

4k -

..

3

651,196,905

5-6

8 -10
7-8
9 -10
8 -12

-7

..

6

-

6

..

5

94,700 COO 645,78 '.97.-*
290,602,< 57 61",2* 9,526
4,714,932 18.780,642 291,^74,236 625,37. ,810
’
;

Paper.

7-8
6-8
7 -10
7-9
6-7

-

6

.

20.403 137

Call.

7-8

..

-

4,44S418 662 937,297

*9,858,4 5 291,544,02

-

651.717.271
659.187.8 69
6
6.7,811 199 4-l-I6pd.

44.147,
4.913.451
40.860,139 3C0,252,0 5 671.449,CO

34.4 »,59

Paper.

7-9

6
7"
4-6
7 6
4-5
7 -

33,706,6.3 291.49: ,0-38
2

Feurth Week.

7-9
5 - 654
5-6

.

-

5

.

Third Week.

Call.

-

-

4

.

259,500,001

New York.

in

Second Week.

Paper.

4-5

357,50

358 557.S07

Call.

6
6

34,995,089 296,205 446
274,100,000 40,570,997 30 ,131.893 621,802,890
271.700 0 0 40,574,765
3(2.193,880 615,068,64 >
263,600,1:00 3 <,567.175 315,517,89; (.17,685,172
....

Monet

Call.

Paper.

$

314,055,73 31,597,83 299,747,5r9
645,400,888
30.688,541 32.626.9 >1 2 94.67 6.604 (6l.992,10(
326,070,380 32,933.614 295.7' 9.489
0.'4,773,48!
3c3.363,783 4 215,715 199,629,322 667,208,820
320,521 5i! 33,452,32c 293.7c 3.236
647,-727.1 T8
320,4-8.519 c3,001,298 293,: 93,* 4' 647,033.462
34',2.'9,182 29, v 62.661 293,904,029 63',925,815
329.118,199 29,508,055 291,183,614 659, f 09.870
319,293,844 39,541,184 291.798,640 650,63 3,66J:
•

Fir.<t Week.

291.880,162

29,804.713

•.

op

of the

Apl. 0.. 357,143,962 89,200,66
207,948 962
Junel
356,000,' CO 79,800,001 276 200,000
12.. 3' 6,000,000 83,500,000
Sep.
.72,SCO 0CI
8 4. .Jan. 1. J 318 401 707
May 3.. ;:82.oco,( 0u 82J 00,' O ' 293
200,000
June26.. 382,000,OOi. 9 800 t Ue
292,200,* 01
Oct. 2.. 3 2
060,00.1 45,500,000 356,500,100
*873.. Jan. 1.. 3‘2,000,' 0
May 1.. 378,051,760 os, 9C0,0(0
June30.. 375,771,5 0 49.6C 0 (00 319.151,760 4-,8(9,5 .5 322,524 331.
326,111 8 42,12 3,4.4 3
Oct
8,14°,4' 6
1.. 3:3, 41. 24 59
200,00. 311,741,124 40,783,5:5 31 '.850,379
IS (i..Jan. 1.. 371,827,220
»>7- 3

1*

money

27.029,273 180.2-3.81s
28,732,8 2 291. <93.294

,

....

.

Price

circulation

$
$
26.000,420 2!3.2J.P.53f
x
4 2 24',8Q6.28
8,005
27.070,876 267,778 678

•

,

Notes,

Total

available

(including

29.217.495

357.1(4,844
•

18(8..Jan.

National
Hank

re¬

$

Apl. 1.. 42-\'. 49.25V
CO 691,308
July 1.
Oct.

Balance—

Green¬
Fracquited to
backs
tionel
be held in available
currency.
Banks or for citculation.
Treatury.

ha'. ks out¬

-

?

6*4- 7

8 -10
7-9
10 -12
8 -11

*k~ 5*4
7

-

..

7

-

614- 7
4k~ 5
no prfee.
8

-1>

-10

8

6
10
s

l>

-

614

-12

-12
-

..

e*4- 7
7-9
5-6
5-6

5%- 7
4%- 6
4
5)4
-

-

'

-24

6

-1

3*4- 4k
6k~ 8
5-7

5*4- 7

-

'4

5
7 6-7
4-5
7 6 4-5
6-7
7 -

6-8
8 -12
7 -7*4

..

..

-10

5-7
5-7
4-5
4-6
6 -1g.
5 -7
2 7 - 7g
4 - 7g.
6 - 1-3.
3-5
3-7
6-7

7 -%pd
4-7
5-1

2-3
4-5
2-4
5k~ 7
3 - 7g. 6-7
3-4
4k- 6
2 - 3k 4
fi
2-3
5-7
4-7
>5 - 6k
2-7
4r- 5
5-7-7 g.

5-6

6-7

.0
9

-12

7 X—10

4-5

-

..

7

5-6
5-7
4-6
2-4
7 - 7g.
5-7
4 - 7g.
3-5

7-8
6k~ 7

4k~ 0*4
price.

no

7-8
8

-10

5*/*- 6
9
8
12
•

-10
-10
-

..

*4-7

4-7
4

-7g.
7 1-16 pd
3-5
.

7

-8

5-0

5-6
5-6
$k~ 7

2-4
2-3

2k- 4
2-3

4

-

lk- 3

4

-

2 - 2k
3 - *1
4-5

4-5
6-7
5k- 7
4*4- 5

k- 4
1
3-4
4-5
2-4
1
24
5-7*
6-7

-12

6k~ 7
6-7

7-8
7-8
9
9

-12
—;2

6-8

4k~ 5*4

7 - 7k
7-8

6-7

4k~ 5k

9
7
8

-12
-

-8M

5k~ 6k
9

8
10

-12
-1»
-12

6k~ 7

r

2

2-3

3

—

5-7
»

6k~ 7k
6-8

..

-12

*4 pd
-

5*4- 7

7
3-6
4-6

4k~ 5*/,

6k~ 8

..

4*/2

4-5
5
6 *4
-

4k~ 6k
‘3k~ 5

3k~ 4k
■

5

-

8

2*4- 4
2-3
2
3
2 -2k

2-5
4-5
2-3

lk~ 3
■- 4

2
4

2-4
1

-

2

6-7

6k~ 8
6

5-6
5 -5*4
4-6

r 3k-«
4

-

6

4'<

-

6*4
5*4- 6k
44- 6
i

-IS

6k
4k- 6k
5

-

3k~ 5
4
7

-4k
-8

-6k 4
6
Notes.—9 he National Bank A< t of June 3
1864, authorizes the issue of
keep rtserves of v’5 per cent of deposits and
§330,000,'
circulation, and other banks 15 per cent. 03 national bank currency, and required banks in redemption cities to
The Act of July 12 1870, authorized
is?ue of §54.100,Of0 additional
circulation.
'
The Act of June 20, 1 74,
:
abolished reserve on circu.ation,
cf bar k notes on
required 5 per cent deposit at
deposit of legal tenders.
Washington to redeem circulati on, and authorized withdrawal
'
The Act of January 14. 1815.
repealed all limit to bank circulatio ■», and
Also authorized purchase and issue
authorized cancellation of 80 per
of silver in plate of
cent of greenbacks for new circulation issued.
fractional gqrrency, and fixed the first cf
January. 187^, for redemption of greenbacks in coin.




■

,

-

MONEY

THE

MARKET.

21

1870.
Week end’g

Cali
Loans.

Friday—
Jan.

7

.“

6
5

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5
5
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5
4
4
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Mar.

40.

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11
18
25

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April 1
8
15
22
29

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6
13...

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20
27

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3

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17
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Loans.

Friday—

Jan.
“

6

13

•

“

7
6
6
5
4
4
4
4
3
4
4
4

20
27

“

Feb.

3

“

10.

41

17

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24

Mch.

.

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April 7
14..

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21
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12
19

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June
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9.
16.
23
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7

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Sept.

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Oct.

..

6
13

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22
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2
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14
21

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Prime

Call
Loans.

ending

Friday—
July 7

@8
© 8

24

7

Friday—
Jan.
a
“
“

Feb.
4-

19

26
2...:..,
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4

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1 32
7 g.
1-32
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7 g.

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7

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Aug.
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@ 7
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@ 7 g.
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© 6
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@ 8

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Nov. 1
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22
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6
4*
13
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£0.
44
27
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@ 8

64% 7
6 %....
6 © 64
5V2% G
54% 64

Call
Loans.

Friday^—
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.*•
“
“
“

Feb.

3
lo
17
24.
31

7
5
6
4
6
7
7
3

.

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29
June 6
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20




.

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8

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@1 32p.d

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Paper.
9 @12
8 @12

3an.

8
7
7
7

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© 7g.
4 ©7
4 © 7g.
4 © 6
3 ® 6
4 @7
3 ©5

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@12
9 @12
9 @12
8 @12
7)4% 8
7*/2@ 8
7%% b)4

© 7 g.
© 7 g.
© 7

® 7
© 7 g.
© 7

No

© 7 g.
© ya p.d 9
© 4 p.d 10

Call '
Loans.

2

“

29
Feb. 5
12....
“
19

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..

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Mch.

5
12

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MOVEMENTS

OF

GOLD

EXPORTS, IMPORTS
PRODUCTION

AND

MOVEMENT
PRECIOUS METALS.

States,

growing out of the difference between the statement
issued by Mr. Valentine, of
Wells, Fargo & Co., and
that prepared by Dr.
Linderman, Director of the Mint.
Dr. Linderman, in his
report to Congress the 1st of
December, gave his totals for the fiscal year ending June
30, 1877, at $84,050,000, of which £45,100,000 were gold
and $38,950,000 silver.
The details of this result are
follows

:—

PRODUCTION OF GOLD AND SILVER H THE
UNITED

State Or

Territory.

Gold.

8TATES, 1876-7.

Total,

Silver.

i otal,
1875-'.

1876-7.
California

$13,000,003

Nevaia

18,0 0,0; 0

,

Montana

750,000

Colorado

3 950 0 0

4,2 0,0 0

2 0 003

1,75 .0(0

2 038 00)

350,000

Utah

5 075,00i-

5.425, 03
7,590.00-

5

New Mexico

3,000,0;0
30 \ t03
175,(00

Oregon

Arizona

i

500,0 0
50 ',000

100,000

1,100,000

50 000

25'», 0^

Superior

850,000

7,292,000
1/40,000

803,00)
675,000

3)0,000
2,03 \U00

Dakota

1,50 ,000
300,005
1,030,i 00

100,0 0

100,000

sources

lOiU 00

75,000
150,0)0
150,003

50,COO

3i -i,0( 0

25,00

Total

25,00u

45,100,00j

33,053,00'

8I.03VOO '85,3 0,003

It is

impossible to state with any degree of accuracy
long this large rate of production will be main¬
tained. A gradual increase
may be expected in Montana
and Arizona, and there is
nothing to indicate a decrease
in any
bullion-producing State or Territory, except in
the State of
Nevada, and that depends upon contingen¬
how

cies which to

a

great extent must be

jecture only.

a

matter of

con¬

The

foregoing statement, it will be seen, is for the fiscal
closing with June 30, and is now the only compila¬

year
tion made

by the Government. Bringing forward, there¬
fore, our usual table of the production of the
precious
metals since 1860, and
adding to it the figures for this
year, we have the following result :—
Year.

Gold,

j Silver.

Total.

i
$
$
46,000,030j
153,000 4'?, 150,0^0
43,0 0 03J| 2,000,005 45,030,600

Year.

$

I860..
1861..
1862..
1863

1864..

1865..
1865.

1867..

1868..

39,200,000:
40,003,00 )
46,100,000
53,225,000
53,50 1,000
5*,72 /000,
48/03,000;

Total since I860




4 500,000 4),700,0 0

1869..
1870..

1871..

8.500,000, 48,500,000

18:2..

11.000,010 57,103,000

1873..

11,250,000 64,475,000 j 1-74..
10,000,003 63,500.000 1875..

13,500,003

65,225 0 0

12,000,000) 60,000,000

This indicates

1876..
ioV7.

i

Gold.

a

total

production of the mines of the
January 1, 1860, of $811,877,092

gold and

328,804,52 7 silver.
Mr. Valentine, of Wells, Fargo &
Co., issues figures
for the calendar year, and from his
position and the care
used in the compilation of
his statement his figures

receive much attention.

For 18 77,

Silver.

$
$
49,500,000 13,030,0 0
50,'.00.000 16,0 0.000
43 500,000 22,000,00
36 0 0,0 0 25,750,00
36 000,COO
3/750,00
42,177,092 30,251,1 H
42,000/ CO 35,703 41:
45.830.000 £8.500,00
45; 100 060 38.950,0 f

I 311,877.092 323.8f 4,52:

Mr. Valentine’s report has the following

“Our annual statement
States and Territories we
British Columbia and the
shows an aggregate yield

:—
precious metals produced in the
t of the M ssouri
River; inc u ling
west coast of Mexico,
during 1877,
of $98,421,75
being an excels of

of

,

$7.54 ,581 over 1876—the greatest previous annual yield in the
history of the country. Arizona, Colo ado, Idaho, Nevada, New
Mexico. Oregon, Utah and
Washing n increase; British Colum¬
bia, Californi \ Mexico and Montana decrease ; b it it is
possible
the failing off in Mont na is more
apparent ihan real.
In our
statement for 1876 Dakota (Black
Hil's) was not mentioned.
It
appears herein credited with $1,500,000 gold; but the estimate is

uncertain, as $050,000 is the total amount carried out by all
express companies and mail.
Th 4 amount named as car ied by
other conveyances is conjecture.
If the Comstock mines yield as
much in 1878 as during
the present year, the aggr gate product
of si ver and gold will
approximate one hundred millions of
dolla s.
STATEMENT OF TH

AMOUNT OF PRECIOUS METALS PRODUCED IN THE
STATES
TERRITORIES WH>T ('P THE MISSOURI
RIVER, INCLUDING MEXICO AND
BRITISH COLUMBIA, DURING THE YEAR
lfc7..
AND

269 530

50 00'.'

10 >,000

Georgia

230,000

50,000

North Carolim

PRODUCTION.

8i0.i CO

2.000.0 0

290,0,0

Virginia

Other

4,500 00

1,030,000

...

Washington
Lake

$1,000,000 $16,000, ‘0 $18/77,500
26,000,000 44,0 0,0.’0 41,725/ 03

1.5* O.OOU

Idaho

SILVER.

United States since

There still continues to be a little
uncertainty each year
as to the annual silver
product of the United

stated in the report, as

AND

THE

OF

AND

Total.

S

"

62,500,003
66,000,000
65,500,000
61,750/ 00
71,750,000
72,428.206
77,703,413

*5,350,000
84,030 000
1140,684.619

States aT d
Teniiories.

Gold Dust Gold Dust
and
and Bullion
Bu lion
by •ther

by
Ca'ifornia.
Nevada

..

express.

convey’ces.

$14,512,123

Washington...

Dako'a
Mexico
Brit. Columbia

950 0)»

Total

1 2

1.439.941
3 1‘ 7.8 r73 810
596 549

61

$24,671,400

•

1 0

318,499

644,912
8,113,755
7,913,549

1,759,206

2,383 »22
1,50',0 0

340.212

1,432, 91
1.771,190

91,209

$93,4 .'1/ 54

0.636

52 630,214

*

2 226

2

3 9,0 0

11,853

$1,853,931

i

1,832 495

leO, on
6,5 8,5V5
1, 64,411
3,49 >

550,000

7-/144
1,16 > *7

....

$'8,174,716
51, 80,200
1,)9’, 97
.

202,295
436, n,

9,110

91 109

3,1 >1. - 7
ei,6so

Total.

by freight.

....

171,091
18',4 1

1,8'4 214
...

$1,731,2 6
6,597 53"

198 666
8 84

1,1 '0/510

Colorado
New Mexico..
Arizona

$1. 02 751
44 3.0 044

t-3, 4

Idaho
Montana
U ah

Ores and
Base Bullion

$725,606

46 ’ O >6
993 531

On go i

Silver
Bullion
by express.

$ 9

“

In our statement for 1876 the
amounts credited to British
Columbia and west coast of Mexico were
inadvertently carried
into the totals credited to the United
States. Deducting amounts
from the sources named, the results are
as follows:
Products.

Net Product of (he Unit d States and Territories
west of the Missouri River.

including
British

Year.

Columbia
and

Mexico.
1870
l*7l
1873
1 73
1874
1374
1876

Silver.

Gold.

$54X00,000

$1/80 0 )0

$17,320,060

$33,75 /00

58,-84.0)0
<2,236.95 >
72,25 /93

2,100.0*0
2/5 .000

3,450.(00

74,401.045

3.800 0 0

8'»,839 057
8'5,1 3
98,4.1.754

•

5 100/00
5,010 000

90

1877

It is

Lead.

5

085/5 )

19,286.000

19,934.439
27,4* 3,302
29,609,122
3

,6 5 239
89/92,9 4
4,5X46.: 09

39,2(<6,55'

a

few years

idea, perhaps, has

$5’,150.000
55, 84.000
<

0,351 8 4

70 139 8r’0

38.46s,488

71,9 5.6 0

39 968, 94

7

42,8" 6 935

r7.219, 59
9\8ll. 582

44,880,223

surprising to find how widely the
production of silver is limitless,

that the
within

34,89 .00 )
8,109.495

Total.

error

703 433

prevails

and has been

indefinitely

extended. Out of this
grown the false impression that the

fall in the market value of that metal is
due to the flood
pouring out of our silver mines. This error is one of

MOVEMENTS OF GOLD AND SILVER.
much

importance, because it leads to the adoption of
inadequate and delusive measures of relief. For instance,
some of the advocates of the Bland silver bill favor
it,

stock of

under the claim that it will raise the

States June

price of silver by

COIN

AND

23
BULLION

Dr. Linderman made the

STATISTICS.

following estimate of the

gold and silver coin and bullion in the United
30, 1876, based upon the estimate of the

making a market for the surplus production. When they previous year, domestic production, and difference be¬
learn, therefore, that there is, through the demonetiza¬ tween importation and exportation during the fiscal
tion of silver in Europe, an accumulated
supply threat" year ended that date, and fixed the amount at $181,678,ening that market compared with which this surplus is 000, of which $30,113,000 were silver.
as nothing,
they begin to see that the origin of the evil
Taking the above amount as a basis for an estimate of the
stock in this country, June 30, 1877, we have :
is not in over-production, and that the
remedy, to be of
Amount of gold coin and bullion on hand June 30, 1876
$ltl.56">.C00
any service, must be an international one.
Add the product of the mines during: the past fiscal
year, about..
44,000,0( 0
1
The totals of the large table below give the result of Importations
26,245,fit 4
Total
an export of domestic and
{2 21, 810,604
foreign gold and silver since Deduct
exportations
$26,590,374
1860 of $1,245, 49,723, and an
import of $324,292,026? And probable amount used in the arts and manufactures 2,500,000— 29 020,374
.'

follows

as

:

Leaves
as

Exported.
Domestic.
Gold coin

$56,143,260

gpld

$349,40i,07!

7,103

$56,510 363

$905,917,434 $203,487,' 80 $702,430,354

3'

45.986,583
*2 0

,679,404

I

9',997 266
1,255,719

200,692/2'

Total silver

STATEMENT

7,9 •°,S4(

11,587.341

$339 932,389 $120,834,946

$93 252,985

as

IMPORTS

OF

30,

0,

TO JUNE

30, 1877,

1865.

-35,023 856

1866..

49,305.9.3

1867.

22,302,035
44,390 003
14,858,369
12,768,501
55,491,719
40,391,357
35 061,863
28.766,913
59,309,770

1863..
1869..

1870..
3871..
1872..

1873..
1874..

1875..

2 ,542,861

$2,502,551
1,08",676
1,693.039
2,892,990
2,536,500
699,763
3,254,329
2,535,765

74,T C

13,584,407

15,812,108

2,233,775

$ 5, 86,5*3

3/

23,(^1,153

5.115,670

«

:

*$30,913,173
*13,311,290
13,267,739
*11.385,033
10,995,703
14,440,865
20.'(531,473
13,867,641

9,039,959
7,9 6,145
8,810,175
3,878,543

*63 7 94.4'5

1877..

Gold.

1,691,081
1.674,412
4.535,418
5,3 6, 90
9,292,743

.

1,8b i, 96
1,0;4 66
$217 112.006
*

THE

SILVER

FOREIGN' GOLD

Coin.

Silver.

Gold.

AND

Silver.

Gold.

$1,443,007
1,932,443
4,395,2*2

$*,065,107

(-74,830
10,832,849
15,853,580
12,978,311
13,573,427
11,743,864
17,233,916
22,729,657
27,759.0G5

22,498,732
17,197.914

15,210,34

1,993,223
1,394,824
721,8' 5
2,235,529
3,076,286
5,703,873
6,428,518
9,213,829
11,934 099
5,744,003

1,145

8^664,134

32.854

75 325

••••••

18,939

164,033
85,735
25,000
11,835

5,002,245
6,96\7l2
15,053,221
6,652,907
13,241,638
11,376,190
5,706,174
7,315,251
7,139,854
17,888,468
12,115,155

•

IV 95

6.787,71

67,511

331,16?

$56.14V60

$91 997 68

169,068
233,174
2.682

19,146

39,778
4,780
,,,,

5,508,785
2,825,746

$200 r.O2 R->«

,,

3,6 6
11 60

$3 '.7. 03 $ .2 5 71 >
t

QUESllON.
have endeavored

Gold.

$2,315,599
13,588,052
12,497,283
3,651,316

91,508

DURING

THE

EIGHTEEN

IMPORTS.

550

10,232,5*6

11,482,8-94

STATES

INCLUSIVE.

33,449
1,900

4,706,323
8 462,0 9

we

$35,093
42,826
40,092

+1,407,645

l,7o3,' 93
4,16?,762

country June 30,

Coin.

Silver.

6 7Lfi

3,433,551
1,739,142
1,035,989
9,796.951
4,070,678
7,541,576
5,015.575
2,104,530
1,166.478
384,677
1.39',934
5,433,736

UNITED

SILVER.

SS51.1R1

2,322,996

6,169,276

$836,337

THE

Bullion.

,

Gold and silver.

In the tables and remarks below
collate the

EXPORT OF

Bullion.

Silver.

86,143.921

1864..

FROM JUNE

EXPORT OE DOMESTIC PRODUCT,

*$2:>,033,678
*10,483,590
17,776,912
*44,608,529

1863

YEARS

$50,135,6.8

,

total of gold and silver of $243,855,8o8, and an in¬
for the year of $(11,177,858.

crease

THE

$82,599,991
$29,464,303
3,000,000— 32,464,363

a

D

Gold.

1862

1877, of
EXPORTS

OP

38,0t 0,000
14,486,991

the stock of silver coin and bullion in the

SPECIE

VALUE

Coin.

I860

net balance of

a

SHOWING

'

Total

Leaves

$324.29\026 $921.557,~r7

THE

$30,113,000

Gives

1:19,: 27, 43

187fi,

year

Deduct exportations
'
And probable amount usedin the arts and manufactures

28 "66, 44
190,36 ,199

(9.217,60*

201 948,510

FISCAL

1861

gold coin and bullion in the country June 30,

*1,096,086,475 *1'9,7' 3,348 $1,"*'5,949

...

Tear.

$192,720,230

Adding the production of the past fiscal
Importations

gold and'

silver

the amount of

The estimated amount of silver coin and bullion June 30,

$0 ;8,4 7,7 5 $180,2 1, -7 $5 tf,226 118
21 ,479,709
2 ',2 5, ,73 194,2/4,236

217,112,606

Silver bullion

1876

Exports,
Imported. lesslmpt’s.

Exported.

net balance of...

a

1877.

Total

.

was

Silver coin

Total

Foreign.

$632,2 4, 65

...

Gold bullion
Total

Total

..

24.126,6 4
*18 * *?1

Bullion.

Silver.

Gold.

Silver.

$5,541,406

$493 187

283 855

41 908

112,493

409,723
1 879,222
2.512,635

249 608

2,2*8,433
4/01,031
1/572,127
753,291
2,344,661

$499 943

1

49,536
66,716
1,352,077

27.764

’

12,226,775
8,114,033
6,903,170

971,129
1,971,645
1,784,536
890,930
680,760
1,177,387
1,372,207
1,542,593
1,614.669
1,581638

6,* 5,7 5
9, 319 7

1,204,905
2,119,570

4,693,253

3,275/73

$lt 587.341

4,9?3,6 1
5,3*0,515
5,02 *',186
14,199.797
14,280,627
4,645,322

,007 $109,21*. 05
Copper coin included.

*

43.654

61,996
90,410
55,149
162,432

105,838
8S0,»9
471,715
837,683
.

1,295.754
1 058 177

“
There have been years when, inste d of taking silver largely
from this market, India has exported the metal (see table below).
We have shown that every fall in the silver market has been fol¬

lowed

an increased absorption in the East; with silver at an
in 1876, at 52fd. per oz., there was exported in 1877
question.
;
.
twenty millions to the East; with silver in 1875 at56|d., thirteen
ABSORPTION OF SILVER BY THE EAST.
millions were taken in 1876; with silver in 1874 at an average of
This important subject is considered in the London Economist 58 5-16d., nearly nine were next year taken.
“The exports from San Francisco to China and Japan were
of Jan. 19, 1878.
The table at the end of this article, from the
£1,708.000 in 1873; £1.673.000 in 1874; £1,530,000 in 1875;
figures compiled by Messrs. Pixley & Abell, of London, shows all £2,292,000 in 1876 and
;
£3,383,000 in 1877.”
the facts in regard to the pi ices of silver in London, the amount
RELATIVE PRICES OF GOLD AND SILVER AND U. S. COINAGE ACTS.
of India Council drafts, and the movements of silver between
Dr. Linderman, Director of the U. S. Mint, in his report for
Europe and the East ever since 1833.
Referring to the move¬
1876, gives a brief account of the various coin ge acts of the
ment in recent years, the Economist remarks :
United States Government since its foundation, from which we
“It is sometimes said that this increased flow of silver to the

to

principal facts bearing

upon

the silver

by

average,

extract the

East has been because we have not drawn upon India, but raised
loans for India here—because, in other words, the India Council
drafts have decreased.
We should hesitate to say that there
lias been any absolute decrease of draft remittances of an extent

following :
The average rela ive value of gold and silver from the estab¬
lishment of the money-system of the Unitt d States in 1792 down
to the year 1870 was about as 1 to 15£, from whic i ratio there

of itself largely increased dem ind for coin remittances
Moreover, it should be noticed, what those practically

important variations, except that in 1859 silver appre¬
nearly five per cent, as compared with its relative value
to gold in 1843.
In 1760 the restive value of gold and silver
was as 1 to 14 29; in 1781, 1 to 13 33; and in 1809, 1 to 16 25; or
a change of 21 9-10 per ceDt.
Taking 1781 as the year of the
highest relative value of silver since 1700, and the average of
the first seven months of 1876 as the lowest within a period of
95 years, shows a change of 34 per cent in the relative value of

to cause
to India.

engaged in the business perhaps hardly understand clearly, that

the permanent effect of Council bills is not to supply the place < f
silver.
Silver will go into circulation, but no one can urge that
Council drafts can be used as currency.
They are merely an
order to pay silver; they are not silver itself.

were no

ciated

“Resuming, then, it appears that large masses of silver have
to the East, have gone into circulation, and have the two nffctals.
tended to raise prices.
The original coinage act, approved Apri 2, 1792, established
The demand from the East, therefore,
acts with an equalizing force upon the price of silver, and in the money of account and a double standard of gold and silver,
that respect co-operates with the supply from the mines, which in the relative valuation of 1 to 15.
But soon atter the coin¬
tends to fall off when the price of silver falls, a rise in tbe value age commenced it was found that gold was undervalued, and
ol the metal in turn allowing fresh mines to be worked at a that coins of this metal were nearly »lways at a premiu u.
been taken

profit.




The result of the discussion from *819 to 1834

waa

the passage

24

MOVEMENTS OF GOLD AND SILVER.

in the year last named, of an act in which
the
gold wax increased G*G81 per centum, which was

coining rate of I sidered a full estimate, and another
high authority places the
accomplished by I amount yet !o be sold (May, 1876j at £22,500,000. Messrs. Pixlev
simply reducing the weight of the gold coins. The subject was & A ell
say that during 1877 about £13,300,000 were thrown on
again discussed prior
and in connection with the coinage
legis¬ I the London market. India and China are the gr< at absorbers of
lation of 1852 and 1853.
The double standard established
by j silver, and the best authorities disagree as to the amount they
tlie act of 171)2 was in tlfect
materially changed by the reduction can continue to take.
in the weight of the
gold coins by tlie act of 1834. This latter |
The follow ng figures of Mr. Ernest Seyd give the total
act was modified
by a subsequent act, of January, 1837, altering amount of
gold and silver e timated to have been held by all
the proportion of fine metal in tlie coins to
nine-tenth-*.
An act countries <>t ’.lie world in 1810:
was passed in 1853
demonetizmg the half-dollar, quarter-dollar,
dime and half-dime
by a reduction of 7*4 per cent of their weight, ERNEST SEYD’s ESTIMATE OF G LD AND SILVER IN A LL COUNTRIES IN 1?70.
and a limitation of their
G )ld.
Silver.
legal tender to $5. This insured the
'

retention - f these denominations of silver coins in
circulation
until they were expelled, soon after the
commencement of the
late war, by the issue of a forced
paper currency.
With tlie exception of the fractional
denominations of the
dollar for the purpose of

chaog

England

£10,000,0 0
2 in, 000,0.) I

Fr.iice

Germany
Rest of Europe
Total in

3'VOOO'O

OP THE WORLD.

1865, and
including France, Belgium, Switzerland, Italy and Greece, had a
double standard of gold and silver. When
the fall of silver took
place in 1873 and 1874, these countries protected themselves
by
fixiog a limit on the annual coinage of silver, and at a conven¬
tion li^-ld annually
they fix the coinage for the year. Germany
was on a silver
basis, but finally demonetized silver, and ma le
gold the only legal tender by a law passed July 9, 1873, which
provided for a new subsidiary silver coinage, not to exceed ten
marks per head of
population, or about £21,500,000, these
coins to be a legal tender for
twenty marks—about £1. The
amount of silver thrown on tlie
market by the demonetization is
estimated by Mr. Goschen’s
Parliamentary committee as follows
Silver in circulation in
Germany in D cember, 1871, £59.000,000;
to be re-coined,
£21,500,000; silver already sold to April 26, 1876,
£6,000,000; silver remaining for sale, £31,500,000.
Ohs is conA

TABLE

SHOWING

THE

MONTHLY

FLUCTUATIONS

IN

LONDON

Years.

Highest.

Silver
coined
iu

Yearly

Lowest.

Aver-

age

England.
£

59 *

Dec.

58*

Feb.

59 3 16

1834....

co*

Aug.

59*

April

59 15-16

1835....

(0

Feb.

59*

Aug.

59 11-16

1836....

6 3*

Aug.

59*

June

(0

1837....

69/i

Jan

59

Aug.

75,385

115

4)1,775

Years.

60*

Dec.

59*

April

MX

Jan.

60

April

<

184)

GO*

Oct.

60*

May

MX

Jen.

Oct.

1*42
1843

6)

June

MX

Jan.

53*
59*
59

59*

Ju’y

59*

...

.<

..

1844....
18*5
18 6

...

1847

...

592*

i85
1852....
1853.
1854
1855

2,042,232

3,010,190

1,703,184

£93,651

2,346.592

2",65.00: i
24,93i‘/i 0
4,07.:,O(ii
2^,853,0)0

1Rn1

207,9)0
89,641

1,439,525

102/52

Feb.

239,580

2,589.28 1
1.197,438

Jan.

59*

61<>,632

2.8 1,731

59*

547(53

PRICE

UP

July

59 5-iG

559,518

53*

Apri

59 11-16

125,730

3,097,042

May

53*

April

59*

35.442

1,541/04

Mch.

59*

Oct.

59*

119,592

1,839,195

59*

60 1-16

63

Mch.
Oct.

129,036

2/t.35.118

61

59*

April

3,235,45S

May

60*
61*

87.8,8
189 5'!n

May

7)1,544

61*

140,58)

3,317,12*
3.8 V‘.5 5
3,669/78
1,481,010

Aug.
Sept.

60*4

T-1 00 N

62*

Dec.

61

61*
MX

Feb.
Mch.

MX

Jan.

G\%

April

62*
G1X

Nov.
Jan.
Jan
Nov.
June

6)*
61*
61*
6u*

...

...

...

...

...

1563...
1864...
1865

6IX
6

X
62*
61X

...

.

.

18V7...

April

60

Nov. 61 5-16
Mch. 61 5-6

May
Aug.

61*
il
62
61
60
61

373,239
4l5,89i

5-16
l-!6
11-lt
13-16
7-16

61

Jan.
Nov.
June
Jan.

hi

April

60*
60*
60*
6

195,510
462,5.8

Oct.
June
Mur.

61 1-16

5-16

647.061

218,403
2)9. 84

16,731,915
4,753 933
14,828.5*1
8.178,7:9

61*

61*

6.H41 576

535,194
501,732
493,41 >
1*3/42
301,35 i

G‘X

6,789.4 3
6,998.899
5,613, 46
4.137,285

8 979 521

n

R
Pi

a

6.821.807
10 091,4(0
8 26 3,011

6.254,004
3,518,058
2.385,62 >

£
l
6,70),O'-O

14,'.7* 46 )

10.394,000
6,59 ',010

11,751,00)
10/88,130
10,827 33)
6,98 ',000
11,778.03 i
8,029,0 0

2,352.943
1,573,4)3

Nov.

10.(49,003

60 3-16

April

60*

701 514

8,413.509

3

16,523,009

Jan.

59*

Nov.

69 5-16

1,213,835

10,310,333

5,654,451

1873.... 59 15-16 Jan.

Nov.

59*

1,081,674

13,93 V 93

2,4)7,576

Dec.

58 5-16

899 604

13,585 678

1871....

61

18‘2...

61*

76,428

712,473

59*

Jm.

5*
57*

57*

Jan.

55*

June

55*

594,601

10.841,615

7,032,726
3,714,401

1876....

58*

Dec.

46*

July

52*

222,354

11,513,2 3

10,911,407

r-i 00 t- »*

58*

Jan.

53*

Mch.

54 13-16

8,638,000

17.037,000

1874....
1875

..

•Including bills

.

...

£2

8,44),00)

$3.190.125,00t- $1,392.200",090
AND

STATISTICS

OP

Famine in various

manufacturing industry.

passed.

opens China to al nations.
hartcr act passed. Consols
lii*. Prior to
below 4 per cent.

lihvay mania.

Panic.

3.105,741
6,9:0.122

J al,

<42,9:2
1 635/4'

>

Sikh

Sept this

year

war.

of gold in Australia.

Kus-ian war
began.
Lo in of 16 millions.
Russian war ends.

o

335,7)8

1870....

60*

£618,025,(00

the Bank never reduced the rate

Disc very

61*

6)

16 100 030

18,' 00,030
13,001.0)0

18.000,010
...

PER OUNCE,
INCLUSIVE.

Consols touched 162. and
averaged
Austra ia i mint established.

60 7 16
60 9-16

61
62

....

Average of consols 9 **.

60 9-;6

60*

19,210,600
18,150,000
I9,50>,0 0
20/0),' 60

..

Commercial and railway pmic.
Repeal of corn laws
Year of panic. £10,0) </ '0
granted for relief of famine ia Ireland.
G >’d discovered in California.
Sikh war.
>
First importation of Californian
gold into England Annexation of
the Punjaub.

o

Sept.

>

Mch.
Feb.

61*

..

12 210 000

13.( 59 (0 )
11.0 o/ oo
14,100 03

Continuance of E. India Co. Slavery
abolished: compensation to own¬
ers £20,000,00 •. Renewal of bank
charter, bank notes a legs) tender.
Great import tion of gold into New York,
substitution of metallic
currency for piper in the Unite! Stares.
Extinction of United State* national debt. Bank
of Un tei States
wound up, owing to reiu~al or
Congress to re-charter it
Banking and c nnm -rcial enbirr issme -ts in U. S. Spanish civil war.
Comm ncement of nanic in Lond n. Disc
uatarefu-e i. Many
trading with United States stop payment. Accession of houses
Queen
Victoria. Rebe li >n in < anada.

Bank

(

Aug.
May
Sept.

1863
185'....

‘

19.910,090

In Do lars

Tr-aty of Commerce

6,4-31,733
12,113,991

€2/199
25,901
4/94
797

9,50 >,00)

Eastern Question.

«w

3.09 -,49 >

2,819,711

1,103,729

10,315,0)0

21 400. 0

Total

Great depression in every branch of
Peace with China. Income tax act

1,973,391

2.7,7.523

118,518
161,172

.0.845,000
10,( 4 .600

specie payments in United States
parts of Briti-h India. Alfghan war

5,052,05 >
1.715.11.9
2,447.450
3,117,980

61X
62 X

..

£10 115.090

22/05.10
51,94 /on
2v, 245,000

3anks in United State* sus -end
pnym’ts in pecie. War with China.
Misunder-tandi ig with Frauce. Treaty
of London for ee.tlement of

3,811,899

Dec.
Feb.
Nov.

60*

.

£24 2 20,0 0

.

Resumption of

3,396/07

Aptil

1877,

Silver.

O

4,204 503

6 '*

SILVER,

7,71",4:0

Sebastopol.

Su-pension of Bank act.

Indian mutiny. Loan of £
,000,003
to the East India
Company.
End of Ind an mutiny.
Loan of £5,216,528 to Ea«t Indi iC).
Commer. ial treaty with Fr ti.ee.
Financ al depressio i in India. Am irica » civ 1 war
beg! s.
Great distress in cotton
minufacHiring d strict*. Paine.
Lirg ; ex torts of gold to the Comment to pay for silver.
£ 3,0 ;0/0 ' silver exported from France.
Close of America i war.
Commerci il and Joint Stock C >.’s
pmic. B’k declined to sell b ir gold.
Great decline i i exports of s.lver,
only £2/;00 tK).« seat from France.
'

I)i tress in Lancashire.

j

5001

-j
11,797,930
12,3)2,220

>8,7)7]
13,589,813]
21,701,609]
9,5

Fall of

Abyssinian expedition.

6 73),orn

11,140

*

99*.

Fra co-Pru-sian war. Panics.
£3/0 o >0 gold exportel to H rnse Towns. Peace between France
a id G
-ninny.
£8,059. 0' go:d exported to Hanse Towns. Cammencement of decline
in

price of silver.

£10,00 ),<)3) gold exported to Hanse Town*.
the demonetization of silver.
nous iucr’se of tmilion in B’k of

announces

Eior

Heavy commercial failures.

German Government

France; £2 \C09.090 mostly gold.
La-ge exports of gold to Germany. Con¬

tinued decline in price of filver
Rerairktble fluernati in in rates of Indian
exchange and bar silver—
the latter having touched the lowest
price on record.
Largest exports to the East.on record. Bill to remonet’ze silver as an.
unlimited >ega! te der in the U. S. di-cassed in
Oongiess • fu r Oct

Ch na for this year only. (The Ea*t India
Company hal the monopoly of the trade of China up to 1833.)
+ Th - above totals fr«>m 1833 to
185) inclu le exp
khij ments rta outhan.pton, Venic: and Marseillcs. »rts from other countries as well as England -from 1351 to 1875, from Southampton only-1876 and 1S7




on

1677.

51,37-,«0d

.

>0. 90 00

TO

TO

Remarks.

if

2.9 59,9 2

Jan.

Nov.

9/4) 060
9,840,'k 0
10, 4",' 00

1849

cl

2,495,959

2,516,95
3,’ 65,709

1853...
1854...
1855...
1856....

s, ;6 1,0 U

2L 40,00

THE

2

1,641,335

1,174.450

58*
53*

61*
62*
hi*

production of

:

Gold.

8,54 MH O

21,390,600
22, 0 m> 0

....

IN

8,1.0.000

52.76 .( 00
21.55 V 03

18 2....
86 •
18h4
1865

1,783,253

Oct.
Nov.

61 Yu

...

8,120,60 ‘
8,i20,0u..
8,13 ','>00
8,139,000
8/3 3.0)0

27.015,01 (

....

Pi

1,945,264

60*

2h51
18 2....

2,li.O/oft
8.12 M0)
8, 2 V 00

29,520,0 0

Ij-57
8'8
1859
18 0

806
1 67
! 65
1859
8.0
1871
1.872
1 73
18 4.
18 5
1876
1 -7

1 850.000

31,09 ),0<(
25,490, 00

J 856

2,610,101

61*

1850,...

total estimated

1849 to 1877

Years.

£1,250,0 0

£6.55 >.001

...

2,035 167

60

1843....

1865

732,803
2,045,251

3,113,292
4,791,678
3,752,47*

Mch.

Silver.

13, 2),COO

......

2,146,465

60*

TS49

1«58
18 9
1850
1861
1802

398,253

Gu*

...

?

£

60 1-16
59 7-16
59 3 16

Oct.

?

£150/0j 0.0

£5,4 <0/1)0
S,89;’/i00

1850

*55,510 +1/95,62 ’

17 /4>

0*

>,030,00)

com.

146/65

53*
60*

£610/03,000

5

Gold.

1819

A

18>-8....

290,000,000

£700.003/00

bars and

407,719

5) 9-16

1839....

1841....

silver to
the Ea-*t.

£

j833... 7

000/00

Expo t of Imports of
silver in

Indian
Gov’ts.

on

5/ 00,000
60.000,000

ESTIMATED PRODUCTION OF GOLD AND SILVER IN
THE WORLD,

EXPORTS, IMPORTS, INDIA BILLS, AND COINAGE, FROM 1833
Am .unr,
of bills
drawn in
E a "la ud

>0

following table shows the
gold and silver in the world from

silver as a legal tender to the amount *>f £2
only.
The states of the so-called “Latin
Union,” formed in

£C85 000,000

30. < 0J 0.0
140,03). Of 0

and various Colonies..

The

position of the United States is well known.
Great
Britain adopted tlie gold standard in
1816, leaving subsidiary

110.000 030

£320,000,000

Europe

gold became the principal United States
money of coin-payments after the year 1834. and so continued
Other American States
until 1873, when it was made
by law the metallic money standard. Ldia, China, &c.
The coinage act of 1873, in so far as it made
Total 1870
gold the standard
of value, simply confirmed the
position which that metal had Access ous since
practically held in this country for a period of thirty-eight years.
Total 1676
GENERAL SITU AT TON IN
COUNTRIES

70,000,000

100,0( U.009

,

The

£15.00 ',000
81.0)0 000

PRICES

OF

GOLD.

25

>-

3211
4
7
1597604

1S62-1§63-1§64.

February 25,1863, Congress authorized the issue of U. S.. legal tender notes to the extent of $150,060,000. July 11, of the
year, an additional issue of U. S. legal tender notes was authorized to the extent of $1-30,000,000 ; and
July 17, posta and
other U. S. stamps were legaliz ed as currency.
,
March 3, 1863, Congress authorized a further issue of U. S.
legal tender notes, to the extent of $150,000,000, making the whole
same

43805911264.
6

authorized

to date $150,000,000 ; and and an issue of fractional
notes, in lieu of postal and other stamps, and postal currency to the
$50,000,000. Also three years’ compound interest notes to the extent of $400,000,000 to be legal tenders. The first national
bank was organized June 20. The battle of Gettysburg, the
turning point of the war, took place July 3. The number of national
banks on October 5,1863, w s 66.
June 20,1864, the Gold bill was passed by Congress
and sales of gold at the New York Stock Exchange were discontinued.
After that time our prices are the quotations of the Gold Room.
Number of national banks at the close of 1864 was 503, with an
tctual note circulation of $45,260,504.

extent of

70985621

1862.

uay or
month.

.....

S.

2

S

7

,8

39
31

.

...

102

-102#

102#-102#

101 #-102#

101#-102#

102#-lO4#

101 #-101#

101#-101#
101#-101#
101#-! 01#
101*4-101#

103#-103#
103 -103*f
103*4-103#
1<>3#-103#
103 -103

S.

101#-101#

S.
103 -103#
103 -103#

101#-101#

102#-103#
102#-102#

102#-102#

S.
103

-103#
103#-103#
103#-103#
103*4-103#
103#-103#

101 #-101#
101 #-101#
101 #-101#

101#-1()1#

101#-101#

.

s.

■

^

i0i#-108#

102 #-104#

116#-117

-115#

116#-ilG#
117#-118
11? #-117#
118#-119#

122#-122#

122#-123

118#-119#

122#-124#

Holiday.

114#-ll5^
114#-114#

S.

114#-114#
114 -114#
112#-ll4
112#-112#

110

-110#
111*4-111#
113#-116#
115#-117#
114#-116
113#-114#

S.

104*4-104#
101*4-104#

103#-104#
104#-105#
105#-105#
105#-105#

115#-116#

8.

116#-117
116#-117#
117#-11S#
119 -119#

106#-106#
106

118#-US#
S.

106#-106#

119#-120
119#-120#

S.

106#-108
108#-108#
108#-1 8#
108#-109#
109#-109#
109 -109#

119
117

-119#
-118# H4#-116#
117 -117#
S.

116#-117#
115#-116#
114#-115#
114#-115#

S.

108#-109#

••••*••••«•

123

S.

112#-113#
113#-114#
114.#-114#
115#-115#
114#-115#
114#-114#

S.

S.

-123#
124#-124#
125#-126#
12»#-129
128 -128#

118#-119#
118#-118#
118#-118#
118#-118#
118#-118#
118 ■ -118#

S.

129
131

117#-117#
116#-117#
S.
J10#-117#
115#-115# 116#-116#
114#-115# 116#-117
115 -115# 116#-117#
S.
115#-115#
115#-116# 117#-117#
115#-115# 117#-118#
S.
118#-119
115#-115# 120 -120#
115#-115# 120#-120#
115*#—115# 12'#-121#
8.
115#-115#
116

-116

132

-132#
132#-13S
132#-132#
132#-132#
132 -182#

-132#
131 #-132
130

-131

130#-130#
130#-130#

130#-130#

132#-132#
132#-132#

131
130

130#-130#
1*9#-130
129#-129#
Thanks g'g.
129#-129#

132

131 #-132

129

131 #-132#

-131#
S.

-131#
131 #-132#
131#-131#
130#-130#
129#-130

116#-124

122

S.

S.

-132

130

121#-124

112#-116#

S.
132

S.

S.

108#-120#

-132#
-132#
-132#
-130#

-133

128#-129#
128#-129#
133 -133#
132#-133

12i#-123#

115#-115#

-129#

132
132
132
130

S.

December.

129#-131# 128#- 31#
S.
fLVil -131#
130#—131*4 131 -132
129#-131# 133-134
131#-132# 131#-132#
131#-13*2
130#-132
S.
131#-132
132 -132# 131 #-131#
S.
132#-133
132#-133# 132 #-132#
131 -132# 132#-132#
131#-I31#
131#-132
131 #-132
131 #-132
8.
131 -132
131 #-132#
181#-132

122 #-123

S.

109#-109#

103#-109#

s.

8*
103#-;m3#

101#-102
101#-102

S.

103#-103#

115

November.

October.
122 -123#

September.

August.

109#-10!)#

-106#
105#-105#
106 -106#
106#-106#

103#-104
-104#
104#-104# 101#-101#
io4#-ioi# 101#-101#
104#-104# 101#-101#

i02#-i03#
1U2#-102#

102#-102#

115#-115#

108#-109#

103#-103#
103#-103#
103#-103#
103#-104
104 -104#
104 -104#

102#-102#

102#-103#
102#-102# 102#-102#
101 -102# 102#-103
1()1#-101# 103#-103*4
101 #-101# 103#-103#
101 #-102
S.
101 #-102
103#-103#
S.
103#-103#
101#-101# 103#-103#
1<>1#-101# 103#-K!3#
101 #-101# 103 -103#
101 #-101# 103 -103#
S.
101#-101#
101#-101# 103*4-103#
s.
103*4-103#
101 #-101# 103*4-103#
101 #-101# 103#-103#
101 #-101# 103#-103#
101#-101# 103#-103#
S.
101#-101#
101#-101# 104 -104
104 -104#
101 #-101# 103 #-104
1Q1#-101# 103#-103#
103 #-103#
102 -102
103#-103#

S.
102 -102
101 #-101#
101 #-101#

104

July.
108#-109#

'-

101 #-101#

S.

S.
103 -103

S.

s.

101#-101#

103#-103#

-132#

Christmas

131#-132#

-129#

S.

-133#

-133#

129

132#-133
133#-133#
128#-134

1863.
Jan a ary.

Holiday.
183 #-133#
133#-134#
S.

February.

s

156#-159
-158#

165

-168
-158

156 #-153

-134#

134

157#-153#

157
150

-1:35

156#-157#

154#-155#

135#-137
138 -138#

13G#-138#
S.

140#-142#
142

-144

14G#-148
148#-148#
145#-145#
146#-147#
S.

S.

154#-156# 155#-157#
152#-153# 160 -163
152#-153# 157#-158#
154#-154# 15S#-160#
159

S.

155#-157# 154#-155#
154 #-155#

158 #-159#

160#-162
162

153#-155
154#-155

-163#

153#-154#

14S#-151#
353#-l54#
152#-154

June.
May.
July.
August.
150#-151# 146 -147# 144*#—145
129#-129#
153#-157
149#-150# 146#-I47# 143#-144#
S.
153 -153#
S.
146#-146# 144 -144# 127#-127#
146 -146#
154#-155# 148#-150
Holiday. 128#-128#
S.
S.
14S#-151# 146 -146#
127#-127#
151 -152# 152# -154
145#-145# 138 -139# Thanksg'g
150 -152# 154#-154#
S.
132#-138# 127 -127#
145#-147
154#-154# 143 -143
131#-131# 126#-126#
149 -150# 142#-142# 131 #-131#
146#-143
S.
S.
146#-149
140#-140# 132#-132# 126#-12fi#
141 #-142
148#-149
132#-132# 126#-126#
148#-149# 141#-141#
126 #-126#
157 -157# 149#-149# 142#-142# 131
#-131# 126#-127
155 -155# 149#-150
S.
131 #-131# 125#-126#
152 -154
149#-150
128 #'-129# 125#-125#
144#-148
152 -153#
s.
147#-148# 126 -126#
145 #-145# 125#-126
153#-153#
125 #-125#
151#-152# 149#-150
143#-144# 125#-125# 125#-12o#
S.
14S#-149# 143 -143#
124#-125#
148#-150# 148#-149
143#-143# 123#-125# 124#-124#
146 -147

151. -i53#
167#-171# 145#-159
171#-172# 139#-141#
169#-172# 139 -140#
146 -140#
169#-171
171#-172# 142#-143#
S.

149*|-150#

148#-149#
148#-149#

152

-154
S.

145#-146#

150

-153#

143#-144#
143#-143#

-150#

Nat'l Fast.

-171#

144#-145#

144#-145#
S.

145#-157#

-127#

125 #-125#

124#-125# 124#-124#
S.
143#-143# 125#-126#
143#-144
126#-126# 124 -124
141#-145# 125#-125# 122#-123#
S.
144#-145
122#-123#
145 -145# 127#-128
124#-124#
S.
127#-127# 124 -124#
146#-147# 127#-127# 124#-124#
146#-14G# 127#-127#
S.

143#-145

149#-150#

126

143# 143#

S.

143#-150
139

S.

145#-147
148#-150
151#-152

150

144 #-147#

152#-172#

September.

128#-129

143#-154#

140#-148#

127

123#-145

122#-129#

-123#

October.

November.

126#-127#

December.

140#-140#
142#-143#

S.

14S#-148#

127#-128

129#-134#
133#-134#
131#-131#
S.

133
132

-131#
-132#
132#-132#
131#-131#

150*^-152#

148#-150

S

163#-164#

S.

-155#
-158#
-160#

154#-155#

S

148#~I5C

153
153
159

-161#

157#-15S#

S.

147#-148# 161#-164
147#-148# 162#-163#

147 #-148#
147 #-148#
147
-148

-154
S.

155#-156
155#-156

April.
-157#

156

171 #-171#
171 -171#

154 #-155#

157

134#-135#

March,

s

134

January.
Holiday.
151#-152

3..

S.

February.
157#-157#
157#-157#
157#-158
158

.

..

151

#-151#

151#-

.

7
8
9
10
11
12
13
14
15
16

-

March.
159

S.

-160

159#160#-101
160#-1G1#
161 #-161#
....

-

....

157#-158#

S.

....

151 #-152#
151 #-152#

S.

161 #-161#

158#-159#
159#-159#

162#-163#
167 -167#
164#164#-164#
160#-162

152#-152#
153#-154#

159#
159#-159#
159 -159#

153#-153 #

159#-159#

S.

154#-154#
155 #-155#
155#-156#

17.

S.

160#-160#

159#-160#

162 #-162#
161 #-162

....

S.

18

160#-161
159#-160
159#158 -158#

159#-159#
159#-159#
158#-158# 159#-159#
....

19..
20
21
22
23

156#-157

156#-157#
166 -156#

24...

S.

25

159

-

....

27
28
29
80

157#-158#
157#-158#

....

156 #-157#

159

-159#

156#-157#
S.

Months 151#-159# 157#-I6l




103

-

....

162

-

....

S.
•

•••

O'd Frid'y

169#-169#
S.

S.

157#-157#
.

166#-16G#
ft.

166#-166#
107 #-167#
168 #-170#
170#-171
169#169#- ....
S.

17S#-175
175#-175#
176 -177#
173#-173#
171 -171#

S.

176
177

-177#
-179#
179#-179#
177#-177#
174 -176#
172#-172#
S.

167

194

—

....

S.

-193#

•

276
271

•

S.

195#-

....

....

-168

167 -167#
1G6#-107#
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256

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173#-173#

235
248
262

260
•

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193

169#-171
168 -168#
174#-176#
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222
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w

177

S.

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June.

May.

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-

161 #-161#

157#-157# 164#-165#
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157

April.

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2«...... 158

81..

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129#-129#
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S.

146 #-146#

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131 #-132#

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month.

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Month.. 133#-160#

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February.
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May.
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S.

S.

226#-233#

189

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216

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227#-233

216#-224
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210

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225#-229
280#-233*
228#-231

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216

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195

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November.

210

223#-226#

254#-255#
253#-256

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*285

October.
September.
243 -248# 190 -193#
S.
248#-254#
236 -243# 189 -191#
S.
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240#-242
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217#-228
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223#-228
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-260

S6

216.
311
5
7
8
9
2741638

801877965923

1305.—The war virtually closed
(April 9) by the surrender of General Lee. President Lincoln
banks (October 1, 1805), 1,513 witb an actual
(Apl. 14) assassinated. National
circulation of $171,321,903.
United States notes (October 31,
fractional currency, $26,057,469.
1865), $428,160,569 and
October 1, 1866, national banks numbered
1,643 and national bank notes in actual
notes $390,195,785; and fractional
circulation, $280,253,818 ; United States
currency, $27,029,273.
®
October 7, 1867, national banks numbered
1,642 ; national bank circulation, $293,887,941; United States n
tes and fra tional
currency (Nov. 3, 1867), $293,887,941.

1875.

Day ot

month.
1

February.

Holiday.

202%-205%
203%-206
205%-209%

S.

226
231

-229%
-234%

22G%-229%

6

227

-22S%

226%-227%
S.

226%-227

10

23

January.

.

4

222%-228%

220

-223%

.216%-219%
218%-222
217K-22*
y.

218%-22l%

214%-217

215
208

-217

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201%-207%

197%-206
S.

.,,..197%-202%
197%-203%
204%-207%
202

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20S%-215

218

29

-220
S.

-214%

.

9....

10....
11

143%-144%
142%-143%
..142%-143%
142%-143

139

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138%-140

137%-136%
138%-139%
8.

22!!!.‘!!l38%-139%
23
138%-139%
139%-139%
139%-139%
139%-139%
139%-139%

24.

S.

139%-140%

80
31

140%-141%
139%-141%

Month.. 130%-144%

132%-133
....

24..

132%-135

133%-134%
133%-134%
ft.

S.

148

198 -199%

142

-154%

S.

-143%

142%-143%

August.
143%-145%
144%-145%
138%-140% 144%-144%
Holiday.
143%-144%
139%-140 % 143%-143%

197%-199
195%-197%

196%-216%

14S%-201

143%-154%

128%-145%

135%-136%
136%-137%

135%-147%

September.

October.

144%-145

S.

150%-152% 142%-143%
139 -139%
S.
137 -137% 139%-139%
147%-150%
210%-213%
148%-150% 139%-143
137%-138
139%-140%
211%-2i4
S.
193%-196%
135%-137% 137%-138
S.
210%-211% 187%-191% 143%-145% 131%-135% 137%-137% 139%-140%
204%-209
S.
188%-191% 146 -147
128%-131%
139%-140
g
s
145%-146
130%-133% 138%-141
140%-142
205%-207
185%-191% 146 -147% 129%-130% 140%-143
141%-142
Pres't assass.
S.
207%-208% 177%-185
140%-143
142%-143%
204%-206% 174%-179%
Holiday. 129%-130% 143%-147% 142 -142%
203 -205
S.
172%-17G%
s.
130%-131% 143%-145%
203%-204% 162 -169
148%-153
129%-131% 143%-145% 142 -143
204 -205% 163%-166% 146%-147% 329%-131
S.
143 -143%
S.
S.
Holiday,
130%-131% 140 -143% 142%-143%
do
do
198%-202% 162%-167%
130%-131
137%-139% 142%-142%
196%-199% 154%-159% 147%-149%
S.
139%-141% 142%-142%
Holiday.
156 -159
149%-150% 130%-131% 141%-142% 142%-142%
S.
198%-202% 156%-157
S.
131%-132% 141%-142%
133 -135% 141%-142%
198%-200% 148%-152%
Holiday,
142%-143%
198 -199% 153%-157%
do
do
136 -138%
S.
143 -143%
s
s
150%-152
140 -141% 142%-143%
135%-138
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143%-145%
200%-203% 153%-154% 146%-148
S.
139%-141% 144%-140%
151 -152% 146 -146% 136 -137
138%-139% 144 %-145%
s.
149%-151%
137%-138% 139 -141%
S.
151%-151%
130%-137%
143%-144%

March.

139%-140%
139%-140%
139%-140%
S.
139

-140%

13

%-137%

137%-137%
S.

April.

135%-136%
135%-13G%
133%-134%

May.

S.

127%-123%
127%-1'28%
8.
127%-12>%
132%-134% 12-%-127%

130%-131

129%-130%
S.

J25%-126

S.

144%-144%

144%-144%
144%-144%
143%-144% 144%-146%
144%-144% 146%-147%
S.

144%-145

143%-*144

146%-149

144%-144%
144%-144% 144%-144%
143%-144% 144%-144%
S.
142%-143%
140%-141% 144%-144%
140%-142
143%-144%
S.
143%-143%
142%-142% 143%-143%
140%-141% 142%-143%
141 %-142%
142%-143%
S.
141%-142%
142%-143% 143%-143%
143%-144% 143%-144
S.

146

-146%

S.

144%-145%
144%-145%
145

-145%

144%-144%

144%-144%
145 -145%
145%-146%
146 -146%
146%-147
146

-146%

144%-144% 143%-144% 145%-146%
143%-144

143%-143%
143%-143%

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143%-143%
143%-144
144

S.

146
146

S.

143

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145%-146%
144%-145%

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143%-143%
143%-144% 145%-145%
143%-144% 145%-145%
S.
143%-144%
144 -144% 145%-145%
145%-146%

S.

143%-144%
144%-144%

144

-144%
144%-145

148

-146%
146%-147

147%-148%

146%-147%

147%-148%
148%-148.%

146

144%-149

-148%
S.

S.

-147%
146%-147%
146%-147%
146%-146%
146%-146%

146%-148

Thanksgit

145%-l/fc%
144%-145%
S.

146%-146%

144%-145%

S.

144%-145%

146%-147%

145 -145%
145%-146%
147%-147% 146%-146%
147%-147% 146 -146%
146%-147
S.
146%-147
146%-146%
S.
146%-146%
146 -146%
146%-147
146%-146% 145%-146%
146%-147
145%-146%

147

S.

143%-144

November. December.

145%-145%

147

145%-146%

138%-146% 140%-145% ,142%-145

125%-126%

135%-140%

124%-136% 125

129%

June.

125%-127

July.

140%-141

S.

127%-12S%
128%-129%
128%-129%
128%-129%
128%-129%
128%-129%

130

-130%
,

142%-145%
138%-141%
139%-140
S.

139%

S.

1

S.

149
150

150%-151%

14S%-151

149%-150%
148%-150%

144%-145%
144%-145%
145 -145%
144%-145%

-160
S.

149%-154%

S.

-150%
-150%

-147%

146%-147

145%-145%

146%-146%
146%-147%

S.

Holiday.
145%-145%

S.

147%-147%

145%-145%

147%-148%
148

145%-145%

-148%

145%-145%

147%-148%

144%-145
s.

145%-148%

149%-151

-150%

144%-148%

146%-148
S.

146%-148%

14S%-149%

S.
147

148%-148%

-148

147%-14S%

148%-149%

14G%-152%

-155%

148%-149%

148%-149%
S.

148%-149%
148%-149%
149%-151%
151

-153%
150%-153%

146% 14/%

147%-148%
S.

147%-143%
147%-148%
147 -14,5 l

146
146

-146%
-146%

144%-14G%
S.

Decembor.

14»%-141%
S.

140%-141%
140%-141%
138%-14U%
138%-139%
l*is%-139

117%-138%
S.
137

-137%

136%-137%
137%-138%
137%-137%
137%-138%

137%-137%
137%-138%

145%-147%
147 -148%
146%-148
147 -148%

133%-1S3%

145%-146% 137%-138%

S.

144%-144%
144%-145%
144%-145%
144%-145%
145%-146%

145%-146%
S.

145%-146%

S.

146

147%-148

147

125%-141% 137%-107%

November.

146%-147%

147%-150% 141%-143%
147%-148% 141
142%
S.
148%-14S%
147 -149% 140 -141%
145%-147
141%-141%
S.
139%-141%

148%-150% 143%-144%

149%-150%
149%-150
149%-150 %
150
150%

October.

145%-146%
147%-148%
147%-148%
14S%-14%

143%-144%
149%-149%
152%-154% 144%-145%
149%-150% 144%-145%
S.
144%-145%
150%-152
144%-144% 150%-153% 143%-145%
8.

8.
150

148%-149

148%-148%
147%-148% 143%-144
147%-149% 143%-143%

150%-151%

152%-154

13S%-140%

148%-148%
148%-148%

151%-152%

154

-138%

138

151%-153%
148%-149%
149%-150%
149%-152%
152%-153%
162 -152%

-149

148%-149%
149 -151%

147%-149%

-137%
137%-138%

137

148

144%-145%
145%-146%
146%-147%
145%-14t3%
145%-146%
140%-147%

S.

141%-143%
142%-146%
145%-147%

154%-157
154%-156
151%-154
153%-155

S.

S.

8.

;6%-146%
145%-146%
145%-146%
145%-146%

137%-139%

130%-130% 14S%-151%
130%-134% 148%-149%
133%-13S% 151%-153%
S.
137%-139%
139%-141% 152 -153%

138

153%-135%
152%-153% 147%-148%
Holiday.
146%-148
S.
152%-153%
153%-154% 147%-148
153%-154% 147%-148

151%-153%

-130%

S.

143%-145%

September,
145%-147%

14S%-149
147%-149%

155%-167%

S.

130%-130%
129%-130%
129%-130%
129%-130%

August.

S.

126%-12S% 140%-141%
S.
127%-128%
127%-127% 140%-144
127%-127% 143%-146%

130

126%-127%
136%-137% 127%-129% 126%-127%
136%-137% 127%-128% 126%-127%
13G%-137% 128%-128% 12G%-127
Holiday.
127%-128%
S.
136%-137% 126%-12-% 126%-126%
135%-137
124%-126% 126%-120%
S.
8.
126%-127%
136%-137% 125%-126% 127%-128
136%-137
126%-128% 128%-129%
136 -137
127%-i28% 128%-129%
S.
127%-12S%
G. Friday.
125%-127%
127%-128%

February.
135%-135%
136%-136%
8.

136%-137%
136%-138%
136%-137%

133%-135%* 137%-139

134

-134%
133%-134%

10..

17.

Jam ary.

Holiday.

6......

U.

145%-148
146%-148%

July.
139%-141

-146%

145%-146%
143%-147%

145%-154%

138%-139%
138%-139%
S.

S.

137%-138%
136%-137%
134%-136%
133%-134%
132%-133%
8.

Christmas.

138%-141% 131%-133%
140%-144

131%-132%

140%-143% 132 -133%
Th'giving. 132%-134%

140%-141%

S

133

-134

187%-148%

131%-141%

N vember.

rec ember,

1867.

Day oi
nonth.

3

196%-198
198%-199
199 -200

June.
May.
142%-145% Fast Day.
140%-142% 137%-138%
141%-141% 136%-137

-152
S.

139%-139% 132%-133% 127%-12S%
S.
139%-139% 133%-133% 127 -127%
139%-141% 139%-140% 131%-132%
S.
136%-139% 139%-140% 130%-131% 126 -127%
138%-139% 13S%-139% 129%-131% 125%-126%
S.
1SS%-139%
8.
126%-127%
138%-139% 138%-139
130%-132% 127 -127%
139 -139% 13S%-13S%
129% 130% 1‘6%-127
S.
187%-138% 130%-131% 125%-126%
139%-139% 137%-137% 130%-131%
S.

139%-140%

21

212 -214%
212%-21G%

Febrnarv.

Holiday.
....144%-144%

5.

S.

April.
151

1886.

Day or
Month. January.
2

208%-214%

March.
199%-201

~

-211

Month..197%-234%

i

ifj-

GOLD.

1865-1806-1867.

96321830. 21
07584
141
2

77583194628264021
5

PRICES OF

132%-133%
132%-134
133%-134
S.

....

..

...

137%-138%
-137%

137

g

March.

188%-140%
138%-139%

April.
133%-134%

135

May.
-135%

188%-139
136%-138%
135%-136%

134%-134% 135%-135%
133%-134% 135%-136%
133%-133% 135%-136%
S.
132%—133%
132%-133% 135%-137%

]33%-l'4%

133%-136

S.

133%-i 34%
134%-135
9

S.

>84%-136
134%-138

June.

July.

136%-137 3^

H

liday.

137%-138% 136%-137
S.
136%-138%

136%-137%

138%-139

138%-138%

136%-137% 138%-138%
136%-136% 134%-135% 186%-137%
136%-Ib7% 133%-134% 136%-137% 135%-136% 137%-137% 138%-139%
S.
137%-137% 139 -139%
130%-13i%
%-137%

Months 132%-137%




136

-

133%-134%

134%-134%

135%-136
8.

133%-140%

132%-141%

140% -140%
8.

.

135

-138%

140%-140%
140

140

-140%

-140%
S.

140%-140%

140%-141

140%-140%
140%-140%
140%-140%
140%-141
S.
141

September.

143%-143% 140%-140%
s.
141 -141% 143%-144%
140%-141% 136%-187%
141 -141% 144%-145%
8.
136%-137%
141%-142
141%-1*5% 139%-141% 137 -137%
142%-142% 144%-144% 139%-140% 136%-137%
S.
142%-142%
138%-1 9% 137%-137%
142%-143
144%-145% 138%-139% 136%-137 %
S
144%-145% 138%-139%
S.
142%-144% 143 -144% 138%-139% 136%-137%
143%-144% 143%-144
S.
135%-136%
144 -145%
143%-143% 138% 139
134%-136%
145%-146% 144%-144% 139 -139% 133%-134%
144%-145%
S.
139%-! 40% 133%-133%
144%-144% 143%-144% 139% 140% ia3%-134%
S.
143%-144% 140%-141%
S
144 -144% 143
-143% 139%-140% 133%-134%

144%-144%

144%-145%

-141%
141%-141%
140%-141%
140%-141%

142%-143%
142%-143%

140%-140%
140%-141%

142%-143%

S.

143%-144
143 -143%

140%-141%
141

-141%

141%-142%

October.

s.

144

-145%
S.

142%-143

143%-143%
143 -143%

143 -144%
144%-144 %
143%-144‘fc

S.

143%-144
143%-143%
143%-143%
142%-143%

S.

139%-140%

139%-139%

139%-140

139%-139%
138%-139%
189%-140%
8.

141%-142% 139%-140%
141%-142 f* 139%-140
8.

142

133%-136
133%-134%
133%-} 34%
233%-134
183%-133%
S.
133

-133%
133%-133%
Christmas.

139%-139%

183%-134%
133%-134%

130%-138%

137%-141%

132%-!^

143

189%-140

136%-187%

185%-140%

189%-14U%
139%-140%

136%-l3o% I3b%-139% 140 -140%
136%-13()^ 138%-139% 139%-140%
137%-138% 336%-l3G%
S.
140 -140%

135%-135% 137 -137% 139 -139%
135%-137% 137
134 m-135%
S.
136%-136% 184 -134% 134%-135% 136%-137% 137 -137%
-137% 139%-139%
135%-136% 136 -137
134%-134% 134%-134% 137 -137%
135%-137
S.
139%-140%
S
136%- 37% 136%-136% 134 -134% 184%-135% 136%-137% 137%-*137% 139%-140%
135%-137% 136%-137% 137%-138
139%-139%
13G%-136% 136%-136% 133%-134% G'dFriday.
S.
/ 137%-138% 1S9%-140
S.
136%-137% 134%-134% 137%-139
136%-137% 137%-137% 139%-139%
136%-136% 137%-138% 134%-134%
S.
137 -137%
S.
135%-136%
Holiday.
134%-134% 137%-138% 137%-138% 137^-137%
137%-138% 139%-140
134%-135% 138%-138% 134%-134% 138 -138%
8.
188%-138%
189%-140
S
134%-134%
g
138%-141%
133%-136% 137%-138% 133%-134% 139%-141% 137%-138% 138%-133% 139%-139%
137 -137% 138%-138%
139%-139%
134%-135% 13S%-139% 133%-t34% 138%-139%
S.
138 -138% 139%-189%
S.
139%-140% 134%-134% 136%-137% 136%-137%
137%-138% 139%-140%
131%-134% 139%-140% 134%-134%
8.
13'*%-137% 137%-138%
S.
134%-134%
134 %-l 4%
134%-136% 137 .-137% 137%-138% 14}%-140%
134%-136%
134%-134% 135%-136% 137%-137%
9*
140 -140%
134%-135%
S.
134^-134%

August.

1S8
136%-18(% 138 -138%
-138%
136%-137% 188%-138%

141%-141%

-143%

-142% ThanksgFg 133%-133%
141%-142% 139 -189%
Si
14o%-141% 138%-138% 133%-134
140%-140%
133%-133%

138

139%-142% 141

-146%

140%-143%

-140%

141%-142
141%-142%

S.

:

219745865410...

1229765430978..

PRICES

OF

GOLD.

27

1S6S-1869-1S70.

October 5, 1868, the number of national banks
fractional currency (July 1), $388,768,675.

1,643; national bank

note

circulation, $295,760,489; United States

notes and

September 24, 1869, a panic, caused [by combination in the gold market. Price raised to 163£ by the combination. National
(Oct. 9, 1869), 1,617; circulation, $293,593,645. United States notes and fractional currency, $388,113,737.
Speculators
(Feb., 1869), locked up large amounts of greenbacks in New York City.
Throughout 1870 gold market undisturbed. National banks (Dec. 29), 1,648; actual circulation, $296,205,446; United States
notes and fractional currency (June 30), $395,878,684.
banks

,

1868.

Day of

Month. January.

Holiday.
133#-133#
133#-134

>

133#-134#
S.

February,
140#-14U#

>140#-141#

i41#-141#
140#-141#
141#-142
141#-142#
142 -142#

0... 134#-135#
135#-137#
136#-137#
S.
135#-136#
137#-137 # 142#-143#
137%-138# 141#-142#
12
S
141# 141#
13!!!! 138#-140# 140#-141#
140#-142# 139#-140#
138#-140# 140#-141#
8.

139#-140#
138#-139

138#-138#
S.

138%-139#
138#-139#
139 -139#

140#-141#
140#-141#
140#-140#
140 -140#
140#-141#
S.

142#-144

-140#
139#-140#

141#-142#

S.

141 #-141%

140#-141#

140#-141#
141#-141#

*8.... 140#-141#

8.

140#-141#
*).... 140#-141
;!.... 140#-140%

141#-141#

Month. 133#-142#

139#-144

April.
138#-138#

June.

May.
139#-139#

140#-141#
140#-141#

137#-138#
137#-138

139#—139#

139#-139#

139 #-140#

S.

140#-141#

138#-188#

139#-139#
139#-139#
139#-139#
139#-139#

139#-140#

141 -141#
141 #-141#

140#-141#
S.

139#-140#
139#-140#
139#-139#
139#-140#
139#-140

138#-139#
S.

138#-139#
139

-139#

138#-138#
138#-138#
138#-138#
138#-139#
S.

Holiday.

139#-140#
140

March.

•S.

137#-138#

137#-138#
138#-138# 139#-139#
138#-138# 139#-140#
G'd Friday
S.
138#-138# 139#-140#
S.

138#-139
138#-138#
138#-138#
138

-138#
188#-138#
138#-138#
S.

138#-139
138#-139#
139#-140#
139#-140#

138#-139
137#-138# 139 -140
138#-138# 138#-139#
S.
138#-138#
138#-138# 138#-139#
138#-138# 139 -139#
139 -139#
S.
e

138-139#

139#-139#

8.

139#-139#

140#-140#

S.

139#-139#
139#-139#
139#-139#
139#-139#
139#-140
139#-139#
S.

139#-140
139#-140#
139#-140#
139#-139#
139#-139#
139#-139#

139#-140#

145-145#

145#-146#
147

-148#

148# 150

October.

139#-140#
139#-140#
139#-140#

144#-145#
143#-144#
143#-144#
144#-144#

November.
S.
133-133#

133#-133#

133

S.

-1.33#

139#-140# 132#-132#
139#-140# 132 -132#
139#-140# 133#-134#
S.
138#-139#
138#-139# 134#-134#
138#-138# 134#-135#
S.
133#-134#
137#-138# 133#-134#
137#-138
1£3#-134#
136#-137# 134#-135
8.
137#-138#
137#-137# 135#-137
136#-137# 134#-136#
S.
ia3#-135#
136#-137# 134#-135
136#-137# 134#-134#
136#-136# 134#-134#
S.
135#-135#

December,
135

-135#
134#-135#
134#-135#
135#-135#
135#-136#

147#-148# 144#-145
147 -147# 144#-144#
8.
144#-144#
146#-147# 144#-144#
145#-146# 143#-144#
S.
146#-140# 144 -144#
141#-141# 147#-147#
S.
141 #-142# 146#-148
143#-144
141#-142# 146#-146# 143#-144#
S.
142#-142#
144#-144#
142#-143# 146#-147# 144#-144#
143#-144 , 145#-146# 144#-144#
S.
144#-145# 144#-144#
143-143#
S.
143#-144#
142#-143# 143#-144# 143#-144#
143 -143# 143#-144# 142
#-143#
S.
143#-143#
142#-143# 135 -136
143#-143# 144# 145# 14i#-142# 134#-135#
141 #-142#
143#-143# 144#-146
S.
8.
144 -145
142#-142# 133#-134#
143#-144# 144#-145#
S.
134#-134#
143#-144# 144#-145# 141 #-142# 133#-134#
144 -144# 144#-145
141 #-141# 134#-iai#
144 #-145#
S.
141#-141# 134 -134#
144#-145#

144#-145

135#-135#'

184#-134#
134#-134#

143#-145#

140

S.

S.

September.
144#-145

143#-150

133

184#-186#

~

140#-140#
140#-140#
140 -141#

139#-140

139#-140#
139#-139#

139#-139#

August.
144#-145#

140#-141
140#-141

139#-139#
139#-139#
139#-139#
139#-140#
139#-140

S.

137#-140#

140 -140#
139#-140

139#-139#
139 #-139#

138#-138#

137#-141#

July.
140#-140#
140#-140#
140#-140#
Holiday.

S.

-140#
140#-140#
140#-141#
140 -140#

140#-140#
140#-140#
S.

140#-140#

140

-140#
140#-140#
140#-140#
140 -140#
140 -140#

•

S.

•

140

-140#
140#-140#

139#-l4t#

133#-134

141#-145#

133#-140#

134

-134#

135#-136#
135#-136#
135#-135#
135#-136#
135#-136#
135#-135#
S.

135#-135#
135#-135#
135

-135#

134#-135#

134#-135#

135

-135#

S.

134#-135#
135

-135#

138#-135

134#-134# 134#-135#
134#-135# Christmas.
Thanksg'g. 134#-135
135 -135#
8.
134#-135# 134#-135
.

-137

134#-135

1869.
1.

January.,.

Holiday.
134#-135#
s.

March.
February.
135#-136# 131 #-132
135#-135# 131 #-132#

131#-132

135#-135#

131#-131#

135#-135# 135#-135#
134 #-135#

135

134#-135#
ia5#-135#
134#-135#
135#-135#

135

-135#
-135#

S.

S.
135 #-135#
135 -135#
134 #-135#

135#-135#
135#-135#
135#-135#

135#-135#
135#-135#
134#-135#

136#136#

136#-136#
136#-136#
S.

S.

135
135

-135#
-135#

134#-135#

135#-136# 134#-135#
135#-135# 133#-134#
135#-135# 133#-133#
s.
J35#-135#
135#-135#
Ho'iday.
135#-136# 132#-133#
S.
132#-132#
136#-136# 132#-133#
136#-136# 131#-132#
136#-136#
136#--136#
136#-136#
136

130^-131#

-136#
S.

Monthl34#-135#

130#-136#

131 #-132#

131#-131#

131

-131#

130#-130#

April.
131#-131#
S.

131#-131#

131#-132

131 #-131#
131 #-131#
131 #-132#

130#-131#

May.

134 #-134#
S.

135#-136
135#-136#
135#-135#
136 -136#
136#-137#
137 #-139

132#-133#

S.

131#-132

131#-131#
131

-131#

131^-131#
131 -131#
131 #-131#
131 #—131#

132^-133#
133-133#

132#-132#
132#-ia3
132#-132#
132#-1.33#
133 #-133#

S.
137

-137#
137#-138#
137#-138#
137%-138#
138#-138#
139 -139#
s.

141

June.

131#-134#

134#-144#

August.

138#-139#
138#-138#
137#-138#

138#-138#
8.

138#-138#
138 #-139

138#-139#
138#-139#
138#-139#

138#-139#
S.

138#-139#
137#-138#
137#-138#
137 #-138#
136#-137#
136#-137

-141#
S.
130#-131#
141#-142#
130#-131# 133#-133# 141 #-144
S.
130#-131# 133#-134# 143#-144#
8.
134#-134# 141 #-144# 136#-137#
131 -131# 134 -134# 140#-141# 137#-138#
131 -131# 133#-133#
137 -137#
131#-131# 133#-133# 141 #-142# 136#-137#
131 -131#
s.
140#-141# 137 -137#
GdFriday. ia3#-133# 139 #-140# 137#-137#
8.
130#-131# 133#-134
138#-139#
S.
133#-1.33# 139#-139# 137#-137#
131 #-131#
133#-134# 139#-140# 137#-137#
137 -137#
131#-131#
134#-134#
131#-131#
138#-139

130#-132#

July.
136#-137#
136#-137# 136-136#
136#-137# 135#-136#
S.
135#-136
HoV day.
136 -136#
135#-137
136#-136#
134#-135# 136#-136#

138#-139#

136#-139#

♦No transactions; Board adjourned.
tCalled at National Stock
1:80 P. M., out of respect to the memory of Hon. E. M. Stanton.

135 #-135#
■

135#-136#
135#-135#
S.

136#-137#
136#-137#
137 -137#
136#-137
135#-136#
13o#-135#
S.

135#-136#

S.

135#-136#
135#-135#
135 -135#
134#-135#
134#-134#
133#-134#
S.

133#-134
133

-133#
132#-1,33#
132#-133#
132#-133
131#-132

September.
133#-iaS#

131#-136#

-130#

133#-ia5#

129#-130#

135%-136

S.
128 #-130

135#-137#
S.

128#-130#

137-137#
136#-137

130 -131
131 #-132

134 #-136

130#-131#
130#-130#

135#-135#
135

S.

-135#

135#-135#
S.

135#-135#
135#-136#
136#-136#
136#-136#
136#-136#
136#-136#
S.

135#-135#
136#-137#
135 -135#
137#-137#
S.
135# 135#
137#-140#
1?5#-135# 131 #-132# 1J1#-143#
135#-136# 132#-132# 133 -162#
S.
132#-ia3# •
'*S.‘ ”
136#-137# 132#-ia3#
136#-137# 132 #-134#
135#-136# 133#-134#
8.
135#-1S6#
136#-136# ia3#-134
tl29#-132
136#-136# 133#-133#

134#-137#

October.
130

129#-165#

130#-130#
130#-130#
130#-130#
130
130
130

November,
128 #-128#

127#-128
127 -127#
126#-127#
126#-127#
126#-127#
S.

126#-126#
126K-127#
126#-t27#
126 #-127
126#-126#
126#-127
S.

-130#

-130#
-130#
S.

130
130
130

-130#
-130#
-130#
130#-131#
130#-131#
130#-131#
S.

130#-131#
1 0#-130#
129 #-130#
128#-129#
128#-128#
128 #-129#
S.

128#-132

December
121

-122#
122#-124#
122 #-122#
122#-123
S.

122#-123#
122#-123#
123 #-124

123#-123#
122#-123#
123#-123#
8.

122#-123 ‘
122 -122#
121#-121#
121#-121#
120#-121#

126#-127#
127 #-127#
126#-127#
Th'ksgiv'g 120#-120#
S.
126#-126#
126#-126# 120#-121#
S.
119#-121#
126#-126# 120#-120#
126#-126# 120 #-120#
125#-126# tl20#-120#
124#-125# Holiday.

124#-124#
123#-125
S.
121 #-123

8.

120#-120#
120

121#-122#

-120#
119#-120
119#-120

119#-120#
121#-128#

Exchange, highest and lowest prices of sales at that Board.

119#-124

(Adjourned at

1870.
Day of

February.

March.

Holiday.

121 #-121#

S.

month.

121#-121#
120#-121#
120#-120#
120#-120#

115 -115#
115 -116#
115#-115#
112#-114

January.
119#-120#
119#-119#

6...... 120#-120#
121 #-122#
7
8
122 -123
S.
9

10

121#-123#

11

121 #-122#
121 #-122#
121 #-122

12
18
14
16
16
17
18
19
20
21
22

is
14
15
16
17

18
19
•0
11

121#-121#
121#-121#
S.
121 #-121#

iei#-i2i#
121#-121#
)20#-121#
520#-121
120#-120#

120#-121#
120#-120#
120#-120#
120#-120#
119#-120#

110#-1U#

111#-111#
111#-112#
111#-112#
112#-112#
112#-112#
113#-113#

110#-111#

8.

112#-113#

112#-U4#
112#-113#
112#-112#

112#-114
112#-113#
110#-112#

119^-120# 111#-112#

119#-il9# 111 #-113# 112#-113
119#-120
111#-112#
119 #-120
111#-112#
119#-119# 112 -112#
119 -119# 111#-112#
118#-119# 112 -112#
S

S.

m#-i2i#

Month*. 119#-138#




-

-

-

115#-121#

U3#-U3#

June.

July.

August.

8.

114#-114#
114#-114#
114#-114#
114#-114#

111 #-112#

120#-121#
121#-122

U4#-115#
114#-115
114#-114#
114#-114#
114#-114#
114#-115#

114#-114#
114#-115
114#-115#
115 -115#
114#-115#
114#-114#

114#-114#
114#-115
114#-115
114#-114#
114#-114#

Ill#—112#

Ul#-112#

111#-111#

111#-112

110#-116#

114^-114#

111#-115#

111X-112#
S.

121 #-121#

113#-114#
113#-114

Holiday.
111#-111#
111#-111#
111#-112#

121#-121#
120#-121#

113#-113#
113#-113#

111#-112#
112 -112#

U8#-119#

S.

113#-113#
113#-U3#
S.

112#-113#
ii2#-na

112#-113#
113#-113#
112#-113#
112#-113#

114#-114#

S

115^-117# lU#g-lll#

115#-116#

112#-113#
113#-113#

May.

113#-113#
11Q#-113#
112#-112#
112#-113
113#-U3# 113#-114#
8.
113#-114#
113#-113# 114#-114#
113#-113# 114#-114#
113#-114# 114#-115#
114#-115# 114#-114#
114#-115#
114#-115# 114# 114#

118#-119# 112#-112#
112#-112#
Holidny.
8.
U7#-118# 112#-412#
121 -ia# 116#-117# U2#-112#
121 -121# 116#-117# 111#-112#
121#-121#
121#-122#
121#-121#
121#-121#

April.
111#-111#
111#-111#

112#-U2#

S.

113#-115#
113 -114#
112 -112#
112#-113#
114 -115#
116#-116#
S.

117#-122#
120#-122#
121#-122#

112#-112#
112#-112#
111#-111#
111#-111#
111 -111#

120#-121#
118#-119#
119#-120#

110#-111#
110#-111#
111#-111#
111#-111#

121 -122
121 #-122

113#-115# U0#-114#

8.

120#-121#
120#-121#
120#-121#
120#-121
8.

September. October.

November.

December.

116#-116#
116#-116#
114 -115#

lli#-lll#
110#-111#
110#-110#
110 -110#
110#-110#

U0#-110#

121#-122
8.

117#-118#
116#-118
115#-117#
117#-118

117^-117#

113#-114#
114# 115

114#-114#
113#-114#
U3#-114#

113^-114#

113#-113#

113#-114
114

-114#

116#-117# 113#-114#

116#-117#
H7#-117#
116#-117#
116 -116#

114*£-115#

114

-114#

113J|-114#
U3#-114
113#-113#
f 13#-113#

115#-115#

113#-113#

115#-116#
116#-117#
116#-118

113

-113#
112#-113#

116#-116#
116#-116#

U2#-113#
113#-113#
113#-114

116#-116#
116

113#-114
-116#
Holiday.

116#-117#

111# 122# 114^-122

113^-114
113#-113#
113 -113#
113 -113#
112#—113
113 -113#

113#-113#

113#-113#

113#-113#
113#-113#
113# 114#
113#-113#
113 -113#
S.
113

-113#

112#-113

112#-112#
112#-113#
112#-112#
112#-113

111#-112#
111#-111#
111#-112#

110#-110#
110#-110#
110#-110#
110#-110#
110#-111#
111 -111#
111#-112#
110# 111#
111# 112#

112#-113#
112#-113#
112# 112#

11D|-111#
111#-111#

110#-111#
110#-110#
110#-110#
110#-110#
110#-110#
U0#-111
s.

110#-110#
110#-110#
110#-111
111

-111#
110#-no#

110#-110#
s.

111#-112#

110#-110#
no#-iio#
110#-110#
110#-110#
110#-110#

111#-112#

110>|-110#

111#-111#

111 #-112

H liday.

111#-112

111 #-112#

111#-111#

110#-111#
111 -111#

111#-111#
111

-111#

110#-111#

Holiday.

110#-110#

110#-111
110#-110#
no# no#

no#-no#

112#-116# 111#-113# 110 -113# 111#-1

as

3
41174.
8
9
56

PRICES OF GOLD.

1ST1-1S72-1SJJ.
gradually declined, opening at 110f@110£ and closing 109@109i-. Maximum
(Sept. 23), 115£ ; minimum (Dec. 22),
108|. National banks (Dec. 16), 1,790 ; note circulation,
(June 30), $395 878,681. Chicago fire (Oct. 8-11) disturbs $318,205,481 ; United States notes and fractional currency o itstandiug
the money markets.
In 1872 gold steady
throughout year. No special disturbance in market. Opening,
109£@109f; closing, 112(3)112£. Banks (Oct.
3), 1,919 ; national bank circulation, $333,495,027 ; United States
notes and fractional
currency afloat (July 1), $398,355,835.
1873.—The price of gold opened in
January, at 112£, and advanced pretty steadily until it reached
which was the highest point reached
119^, on the 12th of April,
during the year. During the financial crisis gold declined
November touched 106$-, the lowest
materially, and on the 6th of
point since 18G2. The decline to so low a point was
turbance and the fact that there
simply the result of the monetary dis¬
was, for the time being, no demand for
gold either from speculators or importers.
An int
resting movement f the year was the import of specie from Great Britain duri
at New York
g
showing an import of about $9,820,883 in October, and $3,608,190 in November. the panic, the Custom House record

9124956308702123.

Ia 1871 gold

3178950426.r
1
2.

1871.
s.

.

7.

11.....
12
13

•!

19
20
24
22
*23
24
25
26
27
28..

I

>6-11126

April.

110% 111%
110%-111

110%-111%
Jl0%-lll%

May.
111%-111%

110%-110%
s.

June.

111%-111%

S.

S.

110%-1
110%-110%

111

-111%

111%-111%

111%-111 %
111 -111%

111%-1!1%
111%-111%

110%-111%

Holiday.

!10%-110%
110*5-1:0%

110%-lil%
110%-111%

s.

110%-110%
S.

110)6-110%
110%-110%

s.

111

111%-111%
111%-111%
111%-111%

110%-110%
110%-110%
1'0%-11G%

s.

no%-iio%

in

-iii%
no%-111%

S,

110%-110%
110%-110%
110%-110%
110%-110%

110%-111%

31

Ill

-111%

Month. 110%-111%

-111%

110%-111
H0% 110%

s

110)6-110%

..

-111%

110%-111%
111%-111%

no%-no%
.

111%-111%
111>6-111%
111%-111%
111%-111%

111

110%-110%

.

S.

111%-111%

110%-111
no% in

110%-112%

110%-111%

111% 111%
111 -111%

110%-111%

111

-112%

January.
(Iloliday.)
109%-109%

109
109

February.

110%-110%

s.

S

108%-109%

108%-108%
*8%-109%

111%-113%

S.

.

109

-109%
108%-109
103%-109
109 -109%
109 -109%

?

109%-109%

:t

Month.

it

S.

109%-1!0

January.
(Holiday.)
111%-112%
111%-111%
111%-111%
S.

111%-111%
111%-111%
111%-112%
112%-112%
112%-112%
112%-112%
S.

112

-112%

111%-112%
-112%
112%—112*5

~

-110%
-110%

110%-110%
-110%

S.

112
112

114

-114%
113%-llt

112%—113

December

-112%

110%-110%

-112%

110%-110%

111*5-112
111%—112

113%-113% 113%-114%
llo%-113% 114%-114%
113%-113% 114%-115

S.

110%-110%

S.

110

111%-112%
Holiday.

109%-110%
109% 110%

S.

113%-114% 111%-111%
113%-114% 114 -114% 111%-111%
113%-114% 114 -114%
S.
H3%-114% 114%-114% 111%-111%
113%-114% 114%-114% 111 -111%
114 -111%
S.
111%-111%
J1S%-114% 113%-114
111
-111%
S.
113%-113% 111%-111%
11416 114% 113%-113% 111 -111%

114% 115
314% 114%

113%-114%
113%-114%

112%-113

112
112

S.

109%-110

109%-109%

109%-109 %
109%-109%
109%-109%

109

-10d%

s.

109

-109%
-109%
108%-109

S.

-112%
-112%

-110%

109%-110
109%-1( 9%

S.
H3%-113%
111%-111%
113%-113% 114%-114% 111%-111%

109

110%-111
110%-110%

108%-108%
110%-110% 108%-108%
110%-110% 108%-108%
S.
111%-112% 110%-lll%
S.
114%-115
J11%-111% 110%-110%
Holiday.
114 -114%
Hl%-112%
s.
10S%-108%
114%-114% 111%-112
iio%-iii
108%-108%
114%-115
111%-112% 110% 111
108%-108%
S.
114%-114%
110%-111% 108%-109%
114%-114% 111%-111%
109 -109%
Holiday.
114%-115%

S.

112%-112%

111%-112%

312%-115%

S.

111%-115

109%-113%

113%—113%
Holiday.

113%-114

113%-U4%
113%-114%
113%-114%

113%-114

114%-114%
114%-114%
113%-114
114%-114%
113%-U3% 113%-114% 114%-114%
S.
113%-113% 114%-114%
113%-113% 113%-113% 114%-114%
113%-113% 113%-113%
S.
113%-114
113%-113% 114%-114%
S.

113%-114%

113%-113%
113%-113%
S.

113%-113%
113%—114

August.

115%-115%
115%-115%
115%-115%
S.

September.
S.

110% 112%

108%-110%

November.

113-113%
113
113
113

S.

114%-114%
H4%-115%
115

115

-115%
-115%

S.

114%-115

113%-114%
113%-114%
113%-114%

114%-114%
114%-114%
114)6-114%

113%-113%
113%-H3%
113%—113%
113%-113%

113%-113%
112%-113%

114%-114%

113-113%

112%-112%

114%-114%
S.

S.

112%-113

October.
114

-113%

-113%

113%-lly% 115%—115^5
-113%
113% 113% 115%-115% 112%-113%
S.
115%—115?'* 112%-113
U3%-!13% 115%-115%
S.
113%-113% 115%-115% 113 -113%
;i4%-ii4% 113%-U4
115%—115% 112%-U 3%
113%-114% 113% 114
S.
113%-l 14% 113% 114% 115%-115% 112%-113%
113%-114% 114 -114% 114%-115% 112%-113%
112%-113%
113%-114
S.

110%-110%
-114%
110%-110% 113%-114%
110%-110% 110%-110% 11 *%—114%
110%-110% 110%-110%
S.
110 -110%
110%-110% 113%-113%
s.

109%-110%

July.

113%—114
113%-113%

'

.

-110%
-110%

110

June.
114 -114%
S.

114%-114%
110 —110 ^5
11434-114%
S.
110%-110%
114%-114%
110%-110% 113%-113% 114%-114%
s.
113%-114% 113%-114%
110%-110% 113%-114
113%-114%
114

S.

February.
113%—113%
S.

113

S.

112%-113%
113%-113%
113%-113%
113%-113%

113*5-114

113%-114%

113%-114
113%-114

April.
116%-117%

114%-115%

11G%-117%
117%-117%

-113%

112%-113% 114%-115%

113%-113%

113%-113%

113%-114
113%-114%
S.

113%-114%
113%-114%

114
114

114

115

-115%
-115%
115%-115%
115

115%-115%
S.

-114%
-114%
-114%

114%-114%
S.

114%-114%
H4%-114%

114%-114%
(Holiday.)
S.

115
115
115

-115%
-115%
-115%

114%-115%
114%-115%
114%-115%
S.

114%-115%

115-115%

118%-119%
S.

118%-119%
118

-118%

117%-118%
117%-118%
(Holiday.)
118%-U9%
S.

118%-118%
117%-118%
117

115%—115^5
115%-115%
115%-115%
115%-115%
115%-115%
115%-115%
115%-115%
115%-116%
115%-11G%

114%-114J5
114%-114% 116%-11G%
11G%-117
S.

113%-113%

117%-118%

117%-117%

S.

113%-114% 114%-114%
113%-114% 114%-114%
S.

(March.

114%-115%
S.

112%-112% 114%-114%
112%-113% 114%-114%

*

111%-113

November.

S.

-114%

113%-114%
114%-U5%

December.

114*5-115

113%-114%

111%-112%

S.

111%—112

'

112%-113

S.
112%-mji
111%-112% 112%-112%

Holiday.

S.

112%-113%
112%-113%

111%-112%
112%-113% 112%-112%

112%-113%

112%-113% 112%-113
S.
U2%-113% 113%-113% 112%-113%
112*5-113
S.
112%-113
112% —113% H3%-114%
112%-112%
112%-112% 113%—113^5 112%-112%
S.
113%-113% 112%-112%
113 -113%
112%-112% 113 -113% 112%-112%
S.
112%-112% 113%-113%
S.
113%-113% 112%-113% 113%-113% 112%-112%
113% -114% 112%-113%
S.
111%-112%
113%-114% 112%—113% 113%-113% 111%-112
113%-115% 112%-113% 113%-113%
111%-111%
S.
113%-115%
113 -113%
113%-114% 112%-113% 113 -113% 11136-111%
111%-111%
S.
112%—113% 113 -114
113%—114% 112%—113% 112*5-113% m%-iii%
113%-114
112%-113%*
S.
11!%-111%
113%-114
113 -113%
112*<—113% Holiday.'113%—114
113 -113% 112%-113
111%-112%
113%-114
S.
112%-112% 112 -112%

112%-113%
113%-113% 114%-114% 112%-1J3% 113%-113% 112%-113% Holiday.
111%t112%
S.
114 -114%
S.
S.
112%-112%
114%—115 ' 112%-112% 113*5-114% 112%-113
114 -114%
112%-112% 112)6-112% 111%-112%
115 -115%
112%-112%
112%-112%
112 -112%
112%-114% 113 -114% 113%-115%
112%-115% 112%-115% 112%-115% 111%-114%
111%-1I3%
113%-114%

’

1873.

112

Month.

110
110
110
110

109%-lio%

1C9%-111

108%-109%
108%-109 <
108%-109%
109 -109%

-1

Hi

S.

108%-110%

1G8%-109

a

ifJ
**l

g

no%-iio%

-110%
109%-110

109%-109%
109%-110%

108%-109%

"■!

111%-113%

October.

112%-112% 114*5-114%

-

May.
112%-112%
112%-112%
112%-113%
113 -113%

110

110%-110%
110%-110% 110 -110%
s.
110%-110% 110 -110% 110%-110%
110%-110% 110%-110% 110%-111%
s.
110%-110%
110%—111%
s.
110 -110%
110%-111%
110%-11C% 109%-110% 111%-111%
110%-110% 109%-110
111%-111%
110%-110% 109%-109%
s.
Holiday. 1C9%-109% 111%-111%
110%-Hl
109%-110
111%-111%
iio%-iii
£3.
111%—112%
s.
109%-109% 112%—112%
110%-11G% 109%-U0
112%-113%
110%-110% 110 -110% 112%-113
iio%—110% 110%-110%
S.
109%-110%
Holiday.
112%-112%
110 -110% 112%-112%

S.

H

■

110%-110%
110%-110%

108%-109
108%-108%

April.

110

109%-109%
109%-109%

-109%
-109%

.

March.
-110%

109%-110

10936-109% 110 -110%
108%-109% 109%-110%

12

September.
112%-112%

112
112

1872.

8.*!!!.* 109%-i09% 109%-110%
110%-110%
9
.

S.

August.

112%-112%

-112%
Holiday.
-112%
S.
Holiday.
112%-112%
111% 113% 113%-113% 112%-112%
112% 112% U3%-113%
S.
112%-112% 113%-113% 112%-112%
113%-112% 113%-113% 112%-112%
S.
112%-112%
111%-112%
112%-112% 110*6-112% 111%-112
S,
112%-112% 112 -112%
U0%-110% m%-in% 112%-112% 112%-112%
110%-110% m%-i u% 112%-112% 111%-112% 112%-112%
S.
s.
112 -112%
n.0%-110%
112 -112% 112%-112%
110*6-110% 111%-111*6 112%-112% 112%-112%
112%-112%
s.
111*6-111% 112%-112%
S.
112%-112%
110*6-110% 111%-111% 112%-112% 112%-112% 112%-112%
110%-111% 111%-112%
S
112%-112%
Hl%-lll% 111%-112% 112%-112% 112%-112% 112%-113%
112%-112%
111 -111% 111%-112
112%-112% 112%-112%
S.
110%-111%
112%-112% 112%-112% 112%-il2%
iio%-iii
111%—112
112%-112% 111%-112
112%-112%'
s.
111%-111% 112%-112 %
S.
112%-112%
110%-110% 1!1%-111% 112%-112% 111%-112
112%-112%
110%-111
111%-111%
112%-112%
110*6-110% 111*6-111% 112%-112% 112%-112% 112%-112%
110*6-111 % 111%-111% 112% -U2-*4 112 -112% 112%-112%
S.
lio%-;ii%
9,
112%-113% 112 -112%
lil%-lii% 1H%-111% 112%-113% 112 -112% ii2%-ii2%
112%-112%
s.
111% 1H% 112%-113%
S.
112%-112%
112 -112%
U1%-111%
112%-113

Day of

Mouth.

7

July.
113%-113%

111%-112%
11236-1.12%
111%-112%

110%-110%
110%-110% 111 -111%
no%-no%
no%-no% 111%-111%
no%-no% 111%-ii2% iio%-iii
110%-110% 111 -111%
110%-110% 1U%-112
111 -111%
i
s.
Iloliday.
s.
111*6-111% 11136-111% 110%-110% ill -in%
110%-110% 111*6-111% 111%-111%
S.
m% m%
iio%-m% 111%-111% 111%-111% 110%-110% m%-m%
110%-111% 111%-111% 111%-111% 110%-110% m%-iii%
110%-110%

t;

March.

11136-111%
111%-111%

J10%-110%

5

I

Ill

Iloliday.

...

b

*

February.

'January.

116%-118%

-117%

117%-118%
117%-118%
S.

May.
116%-117%
116*5-116^5
116%-117
S.

116%-117%

117

-117%

X




Exchange

was

closed, and 112

S.

117%-117%
117%-117%
117%-118%
117%-118

117%-118%

117%-117% 117%-118%
S.
117%-117%
117%-117% 117%-118
117%-118% 117%-117%
S.
117%-117%
117%-118% 116%-117
117%-117% 116%-117%

117*5-118

116

117%-117%
117%^118
118 -118%
S.

117%-118%
117%-117%
117%-117%

-117
S.

was

the rate fixed

as a

July.
115%-113%
115

-115%

11536-115%
(Holiday.)
(Holiday.)
S.

August.
115%-115%
115%-115%
115%-115 %
115%-115%
115% 115%
115%-115%
115%-115%
115%-115%

115%-115%
115%-115%
115%—115J5
S.
115%-115%
115%-116% 115%-115 %
llo%-116% 115%-115%
S.
115%-115%
115*5-116
ii'4%-ii5%
‘

115%-116

114%-115

115%-116% 115%-116% 114%-115%
115%-115% 115*5-116
S.
115%-116% 115%-116% 115%—115^5
115%-116
115%-116% 115%-115%
S.
115%-115%
115%-115%
115%-115% 116 -116% 115%-115%
S.
116 -116% 115%-116%
115-115%
115 %-l 16%
115%-116%
115*5-115*5 115%-115%
S.
115)6-110% 115%-115% U5%-i:g%

117%-117%
117%-117% 117%-118
117%-117% 117%-138%
117%-117% 118%-118%
S.
117%-117%
H7%-117% 118%-118% 115)6-115%
S.
11736-118% 115)6-115%
117 -117% 11S%-118 %
115%-115%
110*5-117% 11S14-118%
S.
116%-117% (Holiday.) 115%-115%
117%-11S%

lll%-114yr 112%-11536 114%-118% 116%-119%-i 116%-118%

The Gold

June.

115

115%-115%
S.

115%-115%
115%-115%
115%-115%
115%-115%

-118%. 115

basis for settlement.

-116%
^

115/6-115%
115%-115%
115%-115%
115%-115%
115%-115%
S.

114%-116%

September
115%—116

115%-116%
115%-116%
115%-115%
114%-115%

112%-114%
S.

112

-112%
111*5-112%
iio%-iii %
-m%

m

m%-iii%

111%-112
s.
Ill
111

-111%
-111%

October.

November.

110%-111%. 108%-108%
110%-110%

S.

109%-110%
109%-110%

107%-108%

S.

(Holiday.)
106%-107%

108%-109%
108%-109
-109%

109

109%-110%
110%-110%
109%-110%

106%-] 07
106%-107%

109%-109%

107

109

-109%
108%-109

S.

-107%

109

108%-108%
S.

107%-107%
107%-107%

107

•

-107%

108%-108%

107%-10834

108%-100%
107%-108%
107%-108%
108%-108%

108%-110

108% 109%

-109%

109%-109%
109%-109%
109%-109%
1C9%-110%
109%-110%
S.

110%-111%

S.

108%-108%
107%-111%

S.

108% 109%

111%-111%
109k-109%
111%-112%
10934-110%
S.
111%-113%
10936-109%
111%-112% 108 -108% 108%-109%
S.
108%-108% 109%-110%
*
10S%-108% 109%-110%
111%-112% 108%-108%
S.
111%-112% 108%-108% 109%-110
111%-1U% 108%-108% 109%-109%
S.
111%-114%
108%-109%
U3%-115% 108%-108%
(Holiday.)
S.
10836-108% 109%-109%
111%-113% 10-%-108% 10S% -10936
111%-U2% 108%-108%
S.
110%-U6%

December.
108%-109
108%-109%

10Tv%-110%

111%-112%
111%-112%

111%-112%

110%-lllX,

110%-110%
s.

110%-110%
109%-110%
109%-H0%
(Holiday.)
109%-110%
110 -110%
s.

110

-no%
-110%
110%-110%
110

108%-112%
^

11887765..——GGoolldd

PRICES

GOLD.

OF

29

1874-1875-1876.

1874—The premium on gold varied only 5f per cent throughout the year, the highest price
being 114f, on the 15th of April,
on the 28th of July and
following days. This was the smallest variation in price which has yet been shown in
any year since gold first sold at a premium, in January 1862.
The market was unusually free from manipulation for speculative
purposes, and the volume of ■ ransactions at the Gold Exchange much below 1873 or 1872. The export movement of the year was
considerable.
and the lowest 109.

maintained a higher range during a good part of the year, in consequence of the extreme
scarcity of cash gold
available for market purposes.
A comparatively ^small combination of speculators was competent to gain temporary control of the
market and to force high prices on
gold loans. The highest prices of the year are accounted for in this way, and also by the
antecedent cause of a considerable export movement of specie, which reduced

the supply in the New York market.
touched 115 in March, and thence gradually fell off, and on December 30 sold down to
106 15-16. This was
the year, and the lowest since 1862, with the exception of the temporary decline in the
panic of 1873. On the 18th of October there was a temporary “ spurt” to 113£, on account of the European war news. There was
little speculative interest in the market.
During the first eight months considerable shipments of specie took place, but afterwards
a return
movement, which was of sufficient volume to materially affect the market at a time when the demand for gold was at a
opened the

year at 112f,
the lowest price of

minimum.

1874.
Day of
month.

February

March.

S.

S.

2....
8....

January.
Holiday.
llOK-tlO#
110%-U1 %

111%-111%

4
6

s.
Ill-111%
111 -111%

112%-112%
1125a-112%
111%-112%
111%-112%

1I3%-113%
Holiday.
133%-113%

111%-111%

111%-111%
111%-111%

s.

S.

113%-U3%
113%-113%
113%-113%

11154-112%
112 -112%
112 -112%
112%-112%
112%-112%

111%-111%
111%-111%

1..

.

...

...

6....
7

110%-111%
111*4-11154
11154-11154

...

8....
9....

10....
11....

111%-112

12....

11154-112%

18....

111%-11154
11154-111%
111%-111%
11154-111%
111% 111%

14
15

s.

...

...

16...
17....

18....
19

g

25

S.

S.

113%-113%
113%-114%
113%-114%

112*4-113
112%-112%
112^-112%

111%-112%
111%-!12%

111%-112

Holiday.
112%-113

111%-111%

s.

...

11154-111%

27....

11154-11154
11154-111%
m%-ni%
m%-iii%
111%-1U%

28....
29....
.

ltl%-112%
111%-112

112%-1!2%

26....

30
81

112%-112%

112%-11!%
U2%-111%

11154-111%

.

...

Month 110%-112%

113%-113%
113%-113%
S.

1115i-112
11154-112
111%-112

m%-iii%
in%-in%

...

23....
24....

113%-113%

11154-112

in%-in%

20....
21....

S.

111%-112%

ill-11154
ni%-ni%

...

22

111%-111%
111%-111%
11I%-111%
111%-11154

April.
113%-I13%

s.

H'%-112%
112%-112%
112%-112%
112%-112%

S.

112

-112%
111%-112%
112%-112%
113

-113%

112%-113%
S.

112%-113%
113%-113%
111%-113

111%-113%

113%-113%
113%-113%
11354-113%

S.

1J2%-112%
112%-112%
112 -112%
112%-112%
112%-112%
112%-112%

S.

112%-113%
-113%

113

112%-113%
112%-113%

-112%
-112%
111%-112
lli%-l!l%
111%-111%
110%-111%

110%-110 %
11054-110%

ll(t%-110%
Holiday.
S.

110

-110%
109%-110%

109%-1I0

110%-110%

109%-109%

109%-110%
110 -110%

112%-112%
112 -112%

111%-112%

110%-111%

112

-112%
112%-112%
112 -112%
S.

112%-112%
-112%
112%-112%
112%-112%
112%-112%
112%-112%
S.

112%-112%
ii2%-ii2%
112%-112%
112%-112%
112%-1 !2%
Holiday.

111%-113%

August.
September.
109%-1G9% 109%-109%
S.
109%-109%
309%-109% 109%-no
109%-1( 9%‘ 109%-109%
109%-109% 103%-1{ 9%

S.

11054-11054
110%-11!%
110%-111%
110%-111%

S.

111%-114%

J tily.

11*
112

S.

112

113%-114%
113%-114
113%-113%
1!2%-113%
111%-112%
112%-112%

June.

May.
112%-113%
112%-113

109%-110

109%-110
109%-110
S.

109%-109%
109%-109%
109%-109%
109%-109%
109%-110
110 -110%

s.

110%-110%
110%-111%
111
111
111

-111%
-111%
-111%
111%-111%

s.

111%-312

110%-U0%
-110%
109%-110%
109%-li0

111%-1U%
111%-1U%

109%-no'*

s.

110

111%-112

i09%-109%

111%-111%
111%-111%

s.

109%-109%

s.
Ill-111
111 -111%

109
109

s.

109%-310

-1(9%
-109%

1C9%-109%
1(9%-1G9%
109%-109%
109%-109%
109%-109%
S.

119%-109%

109%-109%
109%-109%
1G9%-109%

i09%-iio
109%-110

109%-109%
109%-109%
109% -309%
109%-109%
109%-109%
109%-109%
S.

109%-109%
109%-109%
109%-110%
109%-110
1C9%-109%
1C9%-109%
S.

109%-109%
109%-109%

s.

109%-109%

109%-110
109%-110
109%-109%
109%-109%
109%-lo9%

309%-109%

109%-109%

309%-109%
109 -:09%

109%-110%

109%-109%
109%-109%
S.

109%-no
109%-110%
110 -110%

109%-109%

109

110%-112%

S.

S.

10924-110%

October.

November.

110

no

December.

S.

130%-110%
Holiday.
110%-110%
ib%~no%

-110%
no%-no%
no -no%
s.

-no%
no%-no%
no -no%
309%-no
no
no

-110%

-110%
s.

iC9%-110%
109%-no
no

-no

no
no

-no

m%-iii%

-110%

110%-111%
110%-111%

110%-110%
110%-110%

no%-m%

110%-110%
110%-110%

m%-iii%

11154-111*
s.

110%-110%
110%-110%

iii%-m%

s.

111%-m*

11154-1112
iii%-iiijj

110%-111%
U1%-111%

g

111%-m*

no%-in%

-iio

no
no

111%-111%

-no%
s.

-no%

109%-no
-no%
no%-iio%
110%-110%
no -iio%
no -no%
no
no
no

no
no

111%-112%
111%-312%
112%-112%
111%-112%

s.
-no
-110

-110%
110%-110%
no%-no%
110%-110%

109%-110%

ni%-ni3

110%-111%
1I1%-111%
111*4-111%

s.

ni%-in%

in%-iii*
m%-iii%
iii%-m%

ni%-in%

ni%-in%
111%-1U%
Holiday.
111%-111%
111%-112%
S.

112%-112%

Holiday.

11154-112%
S.

111%-112

111%-111%
111%-111%
111%-112%

110

-112%

110%-112J{f

1875*
month.
1....
2
3

...

J anuary.

Holiday.
112%-11254
S.

...

4....
5...
6
7....
8
9....
10,“...
11....
12
13....

112%-113
112

-11254

...

112*4-112*%

...

112*4-11254
112%-11254
11254-11254

...

14...,
15....
16,...
17....
18....
19....

20....
21..
22....
.

23....
24....
25....
26..

.

27....
28.

..

29....
30...
31....

S.

112*4-11254

February.
113*4-113%
113*4-114%

114%-11514
114%-114%
113%-114%
114 -114%
S.

114*4-114%
114*/2-114%
114%-114%
144%—1145s

March.

114%-114%
114*4-114%
11454-115

114%-115%
115

-115%

114%-115%
S.

114%-115
115
115

-115%
-115%

April.
114%-114%
114

114*4-il4%

114%-114%
114%-114%

114%-115
115 -115%

115%-115%

115%-115%

S.

11538-115%

115%-115%

115*4-115%

114%-115%
115 -115%

114%-114%
1141/4-114%

11154-112%
112 -112%

114*4-114%
114*4-115%
114%-115%

115%-116
11554-116)4
115%-116%

114%-115%
114%-114%
114*4-114%

116%-116%
115%-116%

Holiday.
114%-114%

116%-116%

116

-116%

115%-115%

114%-114%

115*4-115%

115%-115%

S.

112*4-11254

112*4-112%
112*4-112%

S.

II254-II254

112>%-11254
112%-11254
S.

112%-112%
11254-112%

11254-113
112%-113*4
113

114%-114%
114%-114f4
114*4-114%

115%-116
S.

115%-115%
115 -115%
115

S.

11554-115%
115)4-115%

116%-117
116%-117%
116*4-117
116*4-116%
116%-116%
i;6%-116%

S.

115*4-115%
11554-115%
115*4-115%
115%-115%
1155a -H6%
115%-116%
S.

S.

S.

116*4-116%
11654-11654
116%-117

115%-116%
116%-116*i

117%-117*4
117%-117*4

116%-116%
116 -116%
115%-116%

117%-117%
117%-117%
117*4-117%
117%-117%

115%-115*4

S.

114%-114%

-116%

S.

116
116

-116%
-116%

116%-116>4
S.

Holiday.
114

-

15%

115

-11654

117%-117%
117%-117%
117%-117%
S.

S.
117-117%

117%—117%
116% 117%
11G%-117%

August.
S.

112%-113
112%-113
11254-113
113 -113%
113*4-114
113*4-113%

-117%
-117%
S.

-

11654-117%

114%-115%
114%—115

115%-115%
115%-115%

February.
-113%
113 -113%

-117*4

116%-116%
116%-116%

115%—115^4

March.

117

115%-115%
115%-115%

-115%
115%-115%

115

116%-116*4

11454-117

H7
117

116*4-116%

115%-116%

115%-115%

113%-115%

116%-116%

S.

114%-116%

112%-113*4

-115%
1153a-H5/8

duly.
11654-117%

-115%

115*4-116
G’d Friday
S.

115

J line.

116%-116*4

116

116%-117

S.

-11354

Month. 111%-113%

S.

S.

-114*4

11458-114%

112%-112%
112*4-11254
112 -112*4

S.

May.
115*4-115*4

Holiday.
-117%
116*4-117%
115% —116%
117

116

September.

October.

November.

December.!

11454-114%
113%-114%
114%-11454

116%-117
11654-117%

11554-116%
Holiday.

114%-114%

117-11754
117%-117%
116%-117%
116%-117%

114%-115%'
114%-115%
114%-114%
114%-114%

S.

113%-113%

114*4-115 11454-115%
114%-115%
115%—115^4

11354-114

11554-117

113%-114%

11654-117%

113*4-114
11254-113%
113%-11354

116

S.

-11654

115%-116*4
S.

11554-115%
115%-115%
114%-115%
114%-115

S.

-116%

113

113%-il4%

113%-113%
113%-114%

116%-117

113*4-113%
113%-113*4

116%-117%
116%-117*%
116%—116%

112%-11354

S.

112%-113

Ul%-112%

112

116%-116%
11554-116%
S.

113%-113*4
113%- 13*4
11354-113*4
113%-113%

112%-116%
113%-114%
1124-112%
112%-113%
112%-113

116*4-116%

113%-U4

S.
112-112%

116%-116%

113%-114%

-11254

116%-117
116%-117%
117 -11754

S.

114

-114*4
114%-114%

S.

114*4-114%
11454-114%
114%-114%

116%-116%
116%-116%
S.

S.

114%-114%
114%-114%
114 -114%

11454-114%
114*4-114%
1145e-114%

114%-il454

S.

11154-114%

114*4-114%
11454-114%

116*4-117
116%-117

114%-114%

-113%

114%-115%

114%-114%

114%-114%
114%-114%

114%-114%
113%-114%

11654-116%

113%-113%

113%-114%

116% 11654
116 -116*4
115%-116%

116%—117

114%-115

-115%

114%-115%
115%-115%

116%7117% 114%-115%
11654-116%. 114%-115
S.
114%-114%

116*4-117

S.

115

S.

116%-116%

116%-116%
116%-116%
115%-116%
115*4-116%
114%-115%
S.

114*4-115%
115%-115%
115%-116%
11654—116*4
116%-116*4

11554-116%
S.

114%-114%
S.

114%-115

114%-114%
S.

114*4-114%
114*4-114%
11454-114%
Holiday.
11454-114%

114%-114*4
S.

114%-114%
114%-115%

113%-113%
11354-11354
113%—113^4
112%-11354
113 -113%

Holiday.
S.

11254-113
112%-113
113 -113%
112%-113%
11254-113%

11154-117%

n2%-114%

113%-11754

114%-117%

114%-116%

August.

September.
1(^54-110%

October.

November.

111%-11154

S.

10954-110
10:i%-109%
109%-109 54
109%-109%

112%-115%

1876.
January.
Holiday.
S.

113

8....

112%-113%

113

4
5....

112 %-l 12 54

11254-113
11254-112%

...

6....
...7

8

...

112%-112%
S.
11254-112%
112%-113
,112,-11254
113 -113% 11254-113

12
13....
14
15
...61
17....
18....
19....

...

...

...

20....
21

...

22....

25....

26....

27....
28....
29....
30....
31....

S.

114%-11454

114%-114r*

11254-112%

112%-113%
112%-112%
112%-112%
112%-H3

11254-113

114%-U454

112%-113%

113%-113%
11354-113%
113%-113%
113%-113%
11354-113%

11454-11454
114%-11454
114%-11 %
114%-114%

S.

114%-114%
11354-114%
114%-114%
114*4-114%
114*4-114%
114 -11454

113

S.
-113%

S.

113

-113%

112%-113%

112%-112%
112%-113%
11254-113*4
113

..32

21....

114%-11454

114%-114%
114%-114%
114%-1(4%

..9

10...
11....

-113

114%-114%
11454-114%
11454-115

-113
S.

113 -1,3%
112 '4-113%

112%-112%
113

-113%
S.

113%-113%

11354-114
Holiday.
114%-114%
113%-114
11354-114%

11274-11^54
11254-113

11354-114

113
113

11354-114%

-113%

-113%

g
114

-114%

S.

113

-113%

Mouth 112%-11354




112%-H4%

S.

11454-114%
114%-115

S.

S.

April.
113%-11354
S.

June.

May.
112%-11254

112%-11254

July.
112%-112%

112%-113

112% 112%

S.

113

-113% 11254-11254 112% 112%
S.
11254-113% 112%-112% <
1!2%-113
11254-112% 112%-11254
112%—113
112%-112% 11254-11254
S.
11254-113%
112%-11254
113 -113% 11254-11254 11254-113
S.
112%-112% 112^-11254
113 -113% 112%-112% 112%-112%
S.
112%-113
112%-112%
113 -113% 112%-112% 112%-112%
113%-113% 112%-112% lli%-112%
S.
Holiday.
11254-112%
113%-113% 112*%-112% 11254-H254
S.
11254-112% 11254-11254
11254-113% 11254-112% 112%-112%
113
113
113

S.

-113%

112%-112%

-113%
-113%
11254-11254

112 J*-11254

112*/2-112%

112%-112%

112%-112%

S.

11254-112%

..

11254-11254

112%-112%

112%-112%

S.

11254-112%
112%-112%
11254-11254
112%-112%

112

11254-11254
112^-112%
112%-11254
112*4-112%
11254-11254

113% 114
113%-114%
11354-114%
113%-li4
113%-11354

11254-112%

113%-115

11254-11354

>

S.

112%-113%
S.

-112%

11154-112%
S.

112

-112%
111%-112
lli

111%-)12
111%-112
11154-112%

Holiday.
Holiday.
112%-11254
11154-11254
111%-112%
112

-112
S.

112

,

111V-11154
111%-111%
111%-111%
111%-111%
111%-111%

11154-111%

lll%-ill%
lll*/2-lll%
111%-111%
11154-111%
11154-11154

-112

S.

112%-113%
Holiday.
112%-112%

112%-112%
112%-112%

1^.4-11354

11154-113

S.

109*4-10954
11.9*4-109%
109%-109%

11154-112%
11154-11154
11154-111%
1U%-111%

109%-no
109%-110

111%-111%
lll*/2-lll%

110

S.

-<*

lll%-in*4
iii%-in%
in%-iii%
111% 111%
11054-m

11054-110%
s.

11054-11054

109%-110%
s.

-11054
109%-110
10954-110%
110 -110%
no

-110%

110%-110%
s.

10954-110
10954-110
no -110*4
109%-li0

110%-i 1054

109%-110%

S.’

ll!i% 110%

110

11154-11154
11154 111%

11054-111%
11054-111
111 -111%

11154-111%

11!54-D1%
11154-111%
111%-111%
11154-112%

s.

11154-112%

-112%

109%-10954

110%-m
no%-no%
1^954-110%
l.J%-110

11154-1 2%

109%-11254

S.

f

-

no
no

-110%
-no

10954-110

S.

109%-109%
109%-109*%
109 -109%

109%-109%
Holiday.

S.

10954-110%
10954-109%
109%-109%

103%-109
108%-109
108%-109%
108%-109
109 -109%
109%-109%

109%-109%
S.

S.

109%-109%
109%-109%
11054-113*4
HO%-11154
no -110%
109%-110%
s.

-110%,

10954-110
10954-109%
no -no^ 10954-109%
no -110% lC9?4-:09%
109% 110% 109%-109%
109%-no
109%-109%
S.

no%-no*4
110 -110%
109J4-11054

S.

109%-109%
10954-110%
10S%-11354
*

109%-109%
109%-109%
10954-109%
10954-109%
109%-109%
109% 109%
8.

10954-109%
1(954-109%
10954-10954
10954-lu9%

10954-10954
109

-109%

S.

If9%-109%

10854-109

108%-10854

Holiday.

December.
108*4-109

108%-108%
8.

108%-108%
108%-10654
108 -10854
10754-108%

107%-107%
107

-10754

8.
107 -107%

107%-107%

10754-107%
10754-107%
10754-10754
10754-10754
8.

107%-108
10754-107%
107*4-10754
107%-10754
107*4-107%
107%-107 *4
S.
Holiday.

197%-10754
107
107
107

*107
t

-107%
-107%
-107%
-!°7%
8.

108%-110% *107 -109 ’
1 sale made at 105 15-16.

)

4136930..
16.

30

1820756340978...

PRICES

GOLD.

1877,

In 1877 gold continued
The* silver discussion in

Day of

OP

its downward

movement and closed

Congress during the later months had

nearly 5

little effect

on

per cent below the price at the
the gold premium.

beginning of the

year

“

Month.

‘

January.

February.

‘

March.

■

“

April.

Jane.
May.
July.
106*-106* 105*-106*
8.
104*-105
106*-107* 105*-106
105X-105*
106*-107* 105*-105*
104*-104* 106*-107*
s.
105*-105*
10674-107
8.
S.
104*-105
106*-106* irs*-i05*
Holiday.
106*-106* 105*-105* 1C4*-105
104*-105
106*-107* 105X-105* 10o*-105*
«... 106X-106* 105*-106*
105 -105
1G4*-105
8.
1(5*-105* 105*-1C6*
105*-105*
107*-107* 105*—It 5* 105*-106*
8.V.] 106*-io6* 105*-105* 105*-105* 105 -105
105 -105*
8.
106*-107* 105*-105*
8.
9.... 105*-106* 105*-105* 105 -1' 5* 105
-105* 106*-107* 105*-105* 105*-105*
105*-106* 106*-106
1C4*-105* 103*-105* 107 -107*
8.
105*-105*
105*-1C6
8.
8.
105*-105* 107 *107* 104*-105
106 -106*
105*-105* 104*-101* 105*-106* 107 -107* 104X-105* 105*-105*
106*-105*
106*-106* 105 Vi-105* 104*-104* If 5* -106*
8.
104*-105*
14
8
105*-105* 104H-104* 106*-106* 106*-107* 105 -105* 106*-106*
15'!!! 106*-i06* 105*-105* 104*-104*
105*-105*
8.
107 -107* 103 -106*
8.
106*-107
105*-105* 104*-104* 107 -107* 107 -107* 105 -105*
105*-105*
106*-106* 105*-105* 104*-104* 106*-107* 107 -107*
8.
106*-1- 5*
S.
106*-106*
8.
106*-106* 106* 107
105*-1C5* 105*-105*
106*-106* 105*-105* 104*-104* 106*-106*
106*-105*
106*-106* 105*-106* 104*-104* 106*-106* 106*-1C6* 105*-105* 106*-1<5*
8.
105*-165*
8.
104*-105* 104*-104* 106*-107
106*-107
105*-105* 106*-105*
1O0X-1C6*
Holiday. 104*-105
8.
8.
106*-106* 104*-105* 104*-104* 107 -107* 106*-106* 105*-105*
106*-107
105*-1G5* 105*-106*
106 -106* 104*-105*
1C4*-104* 107*-107* 106*-107
S.
106 -106*
105X-105*
8.
8.
107 -107* 107 -107
105*-105* 105*-106
106*-106* 104*-l05* 104*-104* 106 *-107* 106*-107
105*-105* 105*4-105*
106*-1C6* 104*-105
104*-104* 106*-107*
8.
105 -105*
>
8.
10l*-104* 104X-K4* 106*-107* 106*-106* 105*-105* 10514-105*
105*-105*
29....-'l05*-108
S.
104J4-105
106*-106* 105*-105*
S.
105*-105*
Good Fri.
106*-106*
Holiday.
81
105*-105* 105X-105*
105*-105*
105 -105*
lC6*-10b*
105*-105*
Month. 105*-107*
104*-106* 104*-105* 104*-107* 106*-107* 104*-106*
105*-106*
1

*....

\

‘

..

it'

■‘I si

ill

ft




Holiday..

iot:*-io7*

104*-105*
106

-105*

104*-104*
104*-1(4*
104*-1G4*

8.

August.

105*-105*

It 6*-105*

105*-105*
105*-106*
8.

105*-105*
106*-105*
105*-105*
105*-105*

105*-105*
106*-105*
8.

105X-105*
106*-105*
105*-105 4
1C5X-105*
105*-105*

106*-106*
S.

105

-105*
104*-105

104*-104*
1G4*-104*
1C4*-104*
103*-104*
8.

104

-104*
1C4X-104*
1C4*-104*
104X-104*

104

September
108*-104
8.

108*-108*

108*-103*
103*-103*
108*-103*
108*-108*
103*-108*

October.
108 -108*

102*-108
108

-108

November.

December.

102*-1(2*
102*-102*
1C2*-102*

102X-102*
8.

102*-lf2*

8.

102*-103
102*-102*
102*-102*

102*-102*
Holiday.

108*-103*
108*-108*
108X-103*
108*-103*

10C*-102*
102*-102*
102*-102*

102*-102*
102*-102*
102*-102*
8.

108

102*-108*
102*-lt8*

-1C8*

102X-102*

108

-103*

108*-108*

103*-103*

8.

1C3*-108*

s

102*-108*
8.

102* -108*

102X-102*

-103

-108*
8.

-104

108*-105* 102*-104

!G2*-i02*

8.

102*-103*

102*-102* 103*-103*

102*-102*
102*-1(2*

102*-102*
102*-102*
8.

102*-102*
102*-102*
102*-108*
102*-103
102*-108
102*-102*

103*-103* 102*-102*
8.
103*-108* 102*-1(2*
108*-1C3* 102*-102* 102*-103
108 -103* 102*-102* 102*-108

108
108

102*-102*
102X-102*
102*-102*
102*-102*

102*-103

102*-108* 102*-102*
102*-103* 102 *-K2*
103 -108* 1C2X-102*
103*-108* 102*-102*
S.
103*-108*
103 -108* 102*-103
8.

102 *-102*

10 2 *-1(3

Holiday.

102*-102*
102*-102*

102*-103

102* 108*

102*-103*

r

102*-1C8*

102*-102*
8.

102X-102*
102*-102*
1C2*-108

1C2*-102*
102*-102*
102*-102*

8.
101 *-102*

Holiday.
102X-1C2*
102*-102*
102X-102*
102*-102*
8.

102*-102*
102*4-108*

a

FOREIGN
PRICES

EXCHANGE.
1870

TO

1877.

The demand for foreign
exchange, and the consequent range in prices, depend upon the condition of
financial relations between the United Slates and other
countries, the extent of exports and imports, the sale of
securities abroad or their return to the home
market, and some other elements which affect the actual balances

between this and other countries.
The methods of quoting sterling
exchange have varied widely in the past,
have occurred is somewhat interesting.
In the early history of the country
$4*44 4-9, based on the worth of the Spanish rix dollar then current here as

and a glance at the changes which
the pound sterling was valued at
a standard.
Exchange was then
quoted at its real value, the dollar being worth almost exactly 4s. 6d. English mone}'. From 1792 to 1834 our
gold coin was of the same standard as the pound sterling, viz: 22 carats, or 916 2-3 parts in 1,000, and at its
legal
weight of 27 grains the dollar was worth about 97 1-3 cents, and the pound sterling in our money about $4*56£.
In 1834 there was a material reduction in the value of our
gold coin, so that the dollar was worth only about 9 l£
cents and the pound
sterling about $4*37. In 1837 another slight change made the dollar worth intrinsically
about 91 1-3 cents, and the pound $4*86 2-3. In 1834 the Custom House valuation of
the sovereign was put
at $4*84, and so remained till
January 1, 1874. During the changes from 1834 to January 1, 1874, the
London Stock Exchange continued to reckon the dollar at 4s.
6d., about 9 to 9£ per cent too high, and
involving the practice of quoting American securities about 8f per cent below their actual value. To
correspond with the English custom, bankers in New York from 1834 to 1874 quoted sterling exchange at
109*45f as par.
By the law of Congress of March 3, 1873, the Custom House valuation of the pound sterling was placed at its
true value of $4*8665, and from Jan.
1,-1874, sterling exchange has been quoted accordingly, the quotation when
at par being $4*8665.
The London Stock
Exchange also made a change in their method of quoting, early in the year 1874, but
unfortunately valued the dollar at 4s, or about 97 1-3 cents. This valuation being 2 2-3 cents below par, is equal
to a quotable premium
of about 2f per cent, aud accordingly the present London quotations of American securities,
are about
2f per cent above their actual value—a bond worth 100 being quoted there at 102f.
[Weekly prices in 1870; Daily highest quotations of sterlicg bills in 1871-77.]

1870.
i—London (Bankers’)—v
London
-Parle.Commercial.
Long.
Short.
Short.
Long.
108#-108# 108#109#-..... 518#-517# 515#-515
108#-108# 108#-108# 109#-109#
-515
-517#
108 #-108# 109 -109# 109#-.
518#-517# 515#-515
108#-108# 106#-109
109#618#-517# 515#-515
10834-108# 108#-109
109#-109# 618#-517# 515#-515
109#-109# 518#-517# 615#-515
;; 18
44
11
10834-108# 108#-109
108#-108# 108#-109
109#-109# 518#-517# 516 -515#
44
25
10834-108# 108#-108# 109#-109# 518#-517# 515#-M5
Mch. 4
108#-108# 108#-108# 109#-109# 520 -518# 617#-516#
44
11
107#-108
108#-108# 108#-109
44
521#-520
518#-517#
18...
107#-107# 108 -108# 108#-108# 523#-522# 521#-620
•'
108#-10834 108#520 -518#
10934522#-521#
April 1
10734-108
108#-108# 108#-109
^
523#-521# 521#-519#
8
10834-108# 108#-109
109#-109# 520 -518# 517#-516#
44
15
108#-108# 108#-109
109#-109# 518#-517# 516#-515
44
22
108#-108# 109 -109# 109#-109# 520 -518# 517#-513#
“
29
108#-109# 109#-109# no -no# 517#-516# 615 -513#
May 6
108#-109
110 109#517#-516# 515 -513#
44
13
108#-109# 109#110#517#-516# 615 -513#
44
20
109 -10934 109#-109# 110#-110#
515#-514# 513#-512#
**
27
109#-109# 109#-110
110#-110# 515 -514# 512#-511#
June 3.
109#-109# 109#-110
110#-110# 515 -513# 512#-511#
14
10
109 -109# 109 #-109# 11034-110#
515#-513# 513#-512#
“
17
10934-109# 109#110#516#-515# 514#-513#
“
24
10934-109# ioo#-io9# no -no# 516#-515# 514#-514#
July 1
109#-109# io9#-no
no#-no# 516#-515# 514#-514#
44
8
10934-109#
-109#
-no# 516#-515
513#-512#
44
15
109#515 -513# 512#-511#
io9#-no
lio#44
22
109#-..... 110#no#612#-511# 51154-510
44
29
108#-109# 109#-109# 110#513#-513# 508#-507#
Aug. 5
108 -109
109#-109# no#-no# 513#-513# 508#-507#
12
108#-109
109#-109# no#-no# 513#-512# 508#-507#
4%
19
108#-109
109#-109# no#-no# 520 -515
511#-508#
44
26
109 -109# 109#-109# no#-no# 515 -513#
508#-507#
Bent. 2
108#-109
109#-109# no#-no# 513#-512# 507#-505
A
9
109 -109# 109#no#-no# 513#-512# 507#-506#
44
16
109 -109# 109#-109# no#-no# 515 -512#
507#-506#
44
23......... 108#-109
-109#
-no# 515 -512# 506#-505
44
30
108 -108# 109 -109# 109#-109#
Oct. 7
.-109
10834-108#
.-109#
44
14
107#-107# 108#-108# 109#-109#
44
21
108&-.... 108#-108# 109#-109#
44
28
108#-109 ' 109#-109# 109#-110
Nor. 4
108#-109
109#1(H#-109#
44
11
109 #-109# 199X-109#
108#-109
44
18
108#-109
109#-109# no -no#
44
26
1G8#-108# 109#-109# no -no#
Dec. 2
108#--108# 108#-108# t09#-109#
9
1U6#-108# 109 -109# io9#-no
44
16
108#-108# 109#-109# no -no#
“
23
108#-108# 109 -109# ioo#-no
44
»
108#-106# 100 -109# 109#-199#
.

-Continental Markets.-

_

Date.

Jan.

7
“
14
44
21
44
28
Feb. 4

*

44




Antwerp.
518#-517#

618#-517#
518#-517#
518#-517#
518#-517#
518#-S17#
517#-518#
518#-517#

522#-518#

521 #-520

523#-522#

523#-522#
523#-52234
521#-518#
520 -517#
522#-520

618#-517#
518#-517#
618#-517#
516#-515
515#-515

615#-513#
515#-515
516#-515#

516#-515#
516#-515#
517#-515
515 -513#

512#-511#
513#-513#
-

512#-513#
516#-513#
515 -512#
513#-512#
613#-512#
515 -512#
515 -512#

517#-515#
51G#-515

518#-517#
-

516#-515

517#-516#
617#-516#
517#-516#
518#-517#
518#-518#

Swiss.
Hamburg. Amst’dam.
518#-517# 35#-.... 40#-....
518#-517# 35#
40#-....
518#-517# 36 -36# 40#-41
518#-517# 36 -36# 41 -41#
518#-517# 35#-36
40#-41
618#-517# 36 -36# 40#-41
517#-518# 36 -86# 40#-41
518#-517# 36 -36# 40#-41
52234-518# 35#-36
40#-40#
521#-520
35#-35# 4034-40#
524#-522# 35#-35# 40#-40#
524#-52234 35#-35# 40#-40#
523#-522# 35#-35# 40#-40#
521#-518# 35#-35# 4034-40#
520 -517# 35#-35# 40#-40#
522#-520
35#-35# 40#-40#
518#-517# 35#-36
40#-41
518#-517# 35#-36
40#-41
518#-517# 35#-36
40#^1
516#-515
36#-36# 41#-41#
515#-515 ,85#-36# 41 -41#
515#-513# 36#-36# 41#-41#
36 -36# 41 -41#
515#-515
516#-515# 36 -36# 41 -41#
616#-515# 36 -36# 41 -41#
516#-515# 36#-36# 41 -41#
517#-515
36#-36# 41#-41#
515 -51334 86#-36# 41#-41#
512#-511# 37 -37# 42 -43
513#-513# 37#-38
41#-42#
37 -38
42 -42#
512#-513# 37 -37# 41 #-41#
516#-513# 37 -37# 41#-41#
36#-37 - 41#-41#
513#-512# 36#-36# 40#-41
513#-512# 36#-36# 40#-41
515 -512# 36 -36# 40#-41
515 -512# 36 -36# 40#-40#
35#-36
40#-40#
35*4-35# 40#-40#
35#-35# 40#-40#
36 -36# 40#-41
36 -36# 40#-41
,

-

-

-

514#-513#
515

517#-516#

-514#
515 -514#
513#-512#
513 #-512#

517#-516#

513#-512#

516#-516#
517#-516#

36
36
86

-36#

-36#
-36#

36 -36#
85#-36
36 -36#
86 -36#
36 -36#
38 -96#

40#-41
41
41

-41#
-41#

FrankTt.
40#-....
40#-....
40#-41
41 -41#

40#-41
40#-41
40#-40#
40#-41
4034-40#
40*1-4034
4034-10#
40#-40#
40 #-40#
40#-40#
40#-40#
40#-10#
40#-40#
40#^0#
40#-40#
41 -41#
40#-41
41 -41#
40#-41
40#-40#

40#-40#
41-41#
41 -41#
41#-42
44 -44#
44#-45
42 -43
43 -43#
42#-43
41#-42
41#-41#

-■*■■■

Bremen.
78#-..
78#-....
79 -79#
79 -79#
79 -79#

79#-79#
79 -7P#
7934-79#
T8#-79
78#-78#
78#-78#

78#-78#
78#-78#
78#-78#

78#-78#

■

Berlin.
71#-....
71#-....
71 #"71#
71#-71#
71 #-71#
71 #-71#
71 #-71#
71#-71#
71 -ft#
70#-Tl
70#-70#
70#-70#
70#-71#
70#-71#
71 -71#
71 -71#
71 #-71#
71 #-71#
71 #-71#
71 #-71#
71 #-71#
71 #-71#
71#-71#
71# -7J#
71V-71#
71 #-71#
71 #-71#

78#-78#
78#-78#
78#-78#
78#-78#
79 -79#
79#-79#
79#-79#
79#-79#
79#-79#
79#-79#
79#-79#
79#-79#
79#-80# 73#-74
81-82
81 -81#
81

-82

81
81

-81#

-81#
80#-81#
79#-80

41#-41#
41#-41#
41#-41#

78#-79
78#-79

-77
-79
-77
-76

74

-74#

73 #-73*4
72 -72#

79#-80#

41
41

75
76
75
75

72#-73 *
72 #-72#
79#-79# 72#-72#
41 -41# 78#-79
71 #-72
41 -41# 78#-79
71 #-79
40#-40# T8#-78# 71 #-71#
.........
40#-41
71 #-71#
-41#
-41#
41 -41#
41#-41#

79#-79#

71 #-71#
71 #-71#

79

-79# 71# 7*
79 -79#
78#-79
41#-41# 41k-41# 79 -79# 79 -72#
40#-41
40#-41
78#-TO# 71 #-71#
40#-40# 40#-41
78#-78# 71 #-71#
40#-41
40#-41
78#-T9
71#-71#
40#-40# 40#-40# 78#-7f
71#-71
40#-40# 40#-il
78#-TB
71#

38

32

FOREIGN EXCHANGE.
18TI-1872-1873.

From 1871 to 1873 inclusive, the
only marked feature was the panic in 1873, except that at other times the market
was occasion¬
ally depressed by 60 davs’ sterling bills borrowed by stock
operators.
In 1873 foreign
exchange opened firmly, and so continued
stringency, culminating in April, depressed the price to 107^ for during the early months of the year, till the extraordinary moneyprime 60 days’ sterling. One of the curious featuresof the market
was the
large amount ol 60 days’ sterling hills borrowed by stock
operators, who were accustomed to sell the same, and thus obtain
currency for their speculations, and repay the bills with short
sight when the time came for settlement. Dnrin ; the financial crisis
of September, 1873, the
price of exchange was greatly depressed, and the market was for some
time at a dead lock, it
sible to i egotiate bills at
being impos¬
any price.
Bankers’ 60 days’ sterling were reported as .-old down to
at 104310
103, sight at 104, and cable transfers
commercial bibs at one time were
reported at 101 @ 102.
^

1871.

223164964750..

January.
60
.

t....
m

...

10....

11....
12....
13....
34....
15....
16....
17....
18.
19....
..

20....
81....

no
no
no
no
no
no

no*
no*
no%
no*
130*
110*

109*
109%
209%
109%

/S’.

no*
no*
no*
no*
s.

no%
no%

no%
no%
110% 110%
110% 110%

iop% no*
109%
109%
loo*
ioo%

no*
110s

110
no
no
no

s.

100* 110%
109* 110%

Febmarv.

*3

GO

no*
110%

no*
no*

8.

8.

109* 109%
109% 110

109*
109* 109%
109* 109%
109* 109%
fc.

109 *

109%

109* 309%

109* 109%
309* 109%
309* 109%
109* 109%

,

XJ.,

si.

6.

22..
23..

109* 109%

109

2J..

109%
109%
109%
109%

V..

109% 110%
8.

109% 110%
109%
109%

109%
109%
109% 109J<
109* 110
309* 110

109% 310%
30 % H"%
109% 110%
109% liO*
8.

ifolidav.
8.

Ilf!*
110*
no*
no*

110%
110%
110%
*"9* no*

109* no*

109* no

ioh% no*
109% no*
loo* no*

110%

8

8.

109*
109*
109*
ioy%

109% 109%
l'<9% 109%
109
109*

32..

days. days.

109%
109%
109%
109%

109% 110%
109% 110%

8.

60

60

davs. davs.

August.

3

60

September.

3

60

davs. davs. days. davs.
S.

Holiday.
Holiday.
no*.
no*
no%
110%

311%
in
in

111

/S.

110% 111
no%
320%
no*

no*
no*
no*
no*

no*

no* no*
8.

no* no*
no* no*
no* no*
no* no*
no* no*
no* no*
s.

130*
no*
no*
no*
no
no

310%
no%
no%
no*
110%
no*

no

October.

3

60

November. December

3

6J

3

60

3

days. davs. days. days. days. davs.
day3. days.
no
iio% 109 109*
s.
108% 109% 109% 109%
no
no* 109
109* 108* 109
108% 109% 109* 109%
109% no*
8.
108* 108% 108% 109%
s.
309% no% 109
109* 108% 309* 108% 109% 109%
109%
109% 310% 108% 109% 306* 309%
S.
109% 109%
s.
108% 309* 306% 309% 108% 109%
109% 109%
109% no % 108% 309* 109
110
Holiday. 109* 109%
109% no* 108% 309*
3
108% 109% 109
109%
109% no* 108% 109* 109
no* 108% 109% 109
109*
109% lie*
S.
109
no* 108% 109%
s.
109* no* 108% 109* ios% no
108% 109* 109
109*
109* no
108% 308% 106% 109*
S.
s.
108% 108% 108% 109* 108% 109% 109* 109%
109* 109%
109* 309,% 108% 109* 106* 109*
108% 109% 109* 109%
109* 109% 108* 109*
s.
109
109% 109* 109%
109* 109% 106* 109* 108* 109*
109* 109% 109* 109%
309* 109%
S.
108* 10** 109* 110*
S.
109* 309% 108* 109* 10.-* 109* 109*
no* 109% no
109
109* 108* 308% 108* 109*
s.
8.
108* 108% 106% 109% 109% no* 109% no
109* 109%
108% 309* 108% 109
106* 109* 109% no* 109* 109%
308% 109% 108% 109*
S.
109% no* 109* 109%
109
109% 108% 309* 108% 109% 109* no
109* 109%
109* 309%
/S.
106% 309% 109* no
S.
309* 309% 108% 109* 108% 109*
109* 109%
Holiday.
109* 109% 108% 309* 106% 109%
3.
109* 109%
S.
106* 309* 108% 109% 109
109% 109* 109%
109* 109% 108% 109* 106% 109% 109
109% 109* 109%
109* 109% 108* 309*
S.
109* 109% 106* 109* 108% 309% 109* 109% 109% 110
Holiday. 109% 110
109* 109%
108% 109%
3.

110* 113%

no*

109%
109%
109%
109*
109*

110%
11(2*
110%
no*
no*

8.

109* 330*
109% 310%
109% 310%
loo* no*
109* no*

109* 110*
8.

109% no*
109* no
io9* no*
109% no*
Holiday.

109% ao*
b.

Mav.
3

‘

60

*
3

June.
60

-

«ui/.
60
3

3

August.

days. days. days. days. da3rs. days. days. days.

309% 110%

509% 109%
!*.■»* 109%

27..

26..

April.

3

109%
109% 109%
109% 109*

109* 10-.%
109% 109%
109% 10 9%

24..
25..
26.

60

6.

10.9* 109%
109* 109%

109*

March.

3

days. days.

1(9% 110

15.
36.
37.
36

109% no*
no*

109%
109%
109%
109*
109*

no*

no*
110
no

109* 110%
10956 310%

109% 110%
109% 110%
8.

109%
309%
109%
109%
109%
109%

8.

109* no
109* 110
109% 310*
109* 110*
109* no*
109* no*

110%
110%

110%

109*-110*
109%
309%
309%
109%
109%
109%
8.

310%

110%
110%

8.

109% 110,%
8.
109% 130%
109% no* 109% 310%
109% 110* 109% 110%
109% 110* 109% 110%
io:i% no* 109% 110%
8.
109% no*
109% 110* 109* 110%
8.
109* 110%
109% no* 109* 110%
309* 110% 109% 110%
109% no* 109% 110*
109* 110% 109% no*
8.
109* 310%
109% 110% 109% no*
8.
109% 310%
109* 110% 109% 110%
109* 110% 109* 310% f
109% 110%

310%
110%
110%
110%
110%
110%

109%
109%
109%
109%
109%
109%
8.

110%
310%
310%
110%
110%
110%
.

109% 310%
109* 110*
109* no*

September.

3

60

days. days.

no
no
no

no
no
no

•no%
•no%

8U0*

no
no
no

no%

no%

8.

108%
108%
308%
108%
108*

109%
109%
109*
109%
109*

108* 109%
8.

109*
109* 109*
109* 109%
109
109*
109
109*
109% 109%

109% no*
109% no*
109% no* 109* 310*
309% 310* 109% no*
109% no*- 109% no* 309* 110
no
no% 109% 110* 109% 109%
no
no%
1(39
109*
no
no% 109% 310% 109* 109*
■Ol
8.
109* 310* 109" 109*
loo* no* 109
109*
8.

60

6.

108%
108%
308*
108*
108%
108%

109%
109%
109*
109*
109*

109*

S.

Novt-^'.**.

3

60

108*
308*
108*
106*

8.

109*

108* 110

109
109

108*
106*
108%
308%

109*
109*

108% no*

8.

108* 109*
•108* 109*
309

108* 109*
308* 109*

107* 108*

107%'

109*
107* 109*
107* J09*
107% 109*
107% 108%

107% 108%

8.

308% no*
no*
no*
no*
no*

109
109
309
109

8.

109
109

no*

no*
308* no*
109
no*
109
no*

109

s.
108* no*
108* no*
io8* no*
io8% no*
ios% no*
10^ uo*

8.

108* 109%
Holiday.
108% no
108% no*
108* no*
108% 110*

109
110%
109* 110%
109% no*
109* no*

110*

109* 110*
109* 110%
109* 110%
109* 110%
109% 110*
109% 110*

no*
no*
no*
110%

8.

108%
108%
108%
108%
108%
108%

no*
no*
130%

no*
no*
110%

8.

Holiday.
108* no
108* no

toy* no*

s.

108% no*
los* no*

iio*

108%
108%
108%
108%
108*
108%

no%

108% no*

3

108* no*
106% no

log* no*
308* 130*
108* 110

8.
no %

6J

days. days.

110%

109

109

107%-108%

109%
no*
110%
110%

^oremr/cr.

3

days. days.

107* 308%
107* 108*
107* 108*
107* 108*
107* 106%
308

,,

108* 109
108* 109

108

109

October.

3

days. days. days. days.

no% 109% no*
no% 109* no*
no% loo* no*
Holidav.
s.
no
no% 109* 110*
no
110% 109*-110
6..
109* no
no
no% 109
109%
no
no% 108% 109%
no
no% 108% 10.3*

no%
109% 110%
309% 110%
109* 110%

109* 110*
109* no*
loo* no*

60

s.

8.

309*
109*
1,09*
109*
109*

110%
11(3%
110%
130%
110%

109%^ 110*
109% iio*
ioy% no*

1^53.
January.
60

£

days. days.

February.
60

8
davs. davs.

(Holiday.) 109* 110%

..

H'9* liu*
30*9% 110*

...

109% 110*
8.

309% 110*
109* 310*
lira* HO*
Iu9% 110*

r

7...
8.’...

309% no*

H-...

109% 110*
8.

..

109%
305*
309%
109*
109*
loo*

..,

no %

110%
no*
310%
no*

no*

8.

«••••

...

3 ■)....
£1....

Holiday.

no*
no*
no*

no*
no*
no*
no*
no*
no*
3.

1?.

100% 31(i*
109% no*
io&% i:o*

Holidav.
109* 110*
109% 110

14.

..

no
no

s.

2303*

no*
s.

109* no*
109* no*

109* 310%
10.9* 110%

no *

Holiday.

109% no*

iu9% no*
105* 110%

s.

no*
no*
uo*

no

July.

3

no* no* no*
no* no* no*
no* no* no*
s
no*
no* no* no,*
110* no* no*
s.
no* no*
no% no* 110% no*
no* no* no% no*
no* no* 110% no*
/S’.
iio* no*
no* no% 110
130%
no* no* 130
130%
s.
120% no*
no* no% uo% no*
in * no*
110% 331
110% 111
no* no*
s.
130% 111
130% 111
no* no*
no* no* 110* 320%
s.
no* no%
no* no% no* no*
no* no% no* in
no* no% no* in
3.
no* no%
110% no% 310* 111
110% no % 130% 311%
s.
310% 111*
110% 110% 310% 111*
310% 110% 130% m*
110% 110% 110% 111*

3.

130%
no*
no*
no*
no*
n<*

60

110%
no*
no%
no%
no%
110%

109* 110%

no
no
S.
no
109* no* no
309* no* 110
309* no*- no

109% no*
109% no*

days. days.

30.
23.
12.
13.

28

no*
no*
no*

109% no*

109* no
109* no*
109* 110*
109* no*
io9% no*
109% 110*

€'J

9.

.....

no*

109* no*

s.

Jaunarv.

6

21

109* no*
109% 110*

109* 110%
no
no
no

June.

60
3
davs. davs.

1872.

C.
7.
6.

2u

109*
309*
309*
109*
109*
109*

109* 110%
106* 110%

4.

12.
13

130*
no*

May.

3

davs. days.

S.

s.

s.

•

£

109%
109%
309%
109%
109%
109%

60

109% no*
109* no%
109* no%
109* 110%

3.

no
110

April.

3

davs. davs.

io»% no*

109*

* 110

109%
109*
ioy*
ioo*
io6>;

3.

1.

109*
109*

109* no
loo* no
mi* no

...

2.

39

Holiday.

109

60

109% 110%
109% no*
109% no*

s.

9

-

3
davs. davs.

davs. davs.
S. *

305%
109%
309%
109%
109*

March.

60

'

1..
2....
8...
4....
*....

£2
2U
81.
So.
86.
87.
2b.
29.
80.
ai

February.

£

.

109%
J05*
3,(9*
105%
109*
105*

no*
no*
110*

8.

109% 310*
105% UO*
i0(* 110%

135* 110%

April.

8

daduve.
108% 109*
8.

109* 310%
1<(9* 310%
1013* 310%

109* 310%
109* 110%

109* 110*

108*
106*
108%
10S*

109%

109*
109*
109*
108%

108
108

108*

8.

S.

109* no*
109% 110*
109% 110*
109% no*
109* 110%
109* 110*

:o8
iob%
308* 308%
108
308%
108
job*

8.
109* no
n/5% no
109% no
309
11/5*
109
3 05*

(HoiitUr.

Ho*
110*
110*

105* 110*




8.

March.
GU

.j

8.
109

109
308%
106%
108%

205*
105*
109%
105*
105*

108
108

108*
106%

8.

108* 109
108* 109
108* 309

108* 108%
108* 109

108*105%

108% 105*
108* 105*
108* 105*

106* 109

(Holiday.)

107% 108*
8.

107* 108%
107* 108%

m.

308%
108%
108%
108*
108%

108*
309%
105%
109%
105*
109*

108% 109*
8.

108% 109%
108% 109%

108% 109*

8

davs .days.

.08%
108*
108%
108%
108%

307* 108%
107* 108*
307% 108*
107* 108%

_

8.

60

106* 109*
108% 109*

108% 109%
8.

308% 109%
108% 109%

8.

108

108* 108*
108* 108*

8.

107*
307*
107*
107*
107*

107% 108%
107* 108%
107% 109

108* 109

May.

60
£
davs. davs.

108*
108*
108%
108%

109*
109*
109%
109*

8.

308% 109*
108% 109*
108* 110
108* 110
109% 310*
109* no*
8.

109%
109%
109%
109%
309%
109

110%
310*
no*
no*
310%

210 '
8.

108% 109%
108% 105%
108% 105%
108% 309%

Holiday.)
106* 105%
•

Juue.
3

60

days days.
108* 310
108% 110
108% 310%
109
310*

109% 110*
109% 110*
8.'

109% no*
109

no*

109% no*
to9% no*
109% no*
109% 310*
8.

109* no*
109* no*
109* 310*
109* no*
109* no*
109* 310%
s.

109% no*
109* no*
109 4 310*
105% no*
109* no*
109* no%

July.

60

days.days.

109* 310%
109* 310%
109* 310%

(Holiday.)
(HoJiday.)
8.

109* 110%
109%
109%
109%
109%
109%

no*
no*
no*
310%

110%

8.

109% 110%

109%
109%
109%
109*
109*
.

310%

110%
HO*
110%
no*

8.

105*
109*
i(/i%
109*
109*
109%

no*
110*
no*

no%
no

UO

8.

109% 109%

109

109* 110*

3

105
109

109%
109%

109*

August.
60

September

£

60

day s. days.
109

109%

109
_

109*

s.
109
109
109
109
109
109

*

109*
109%
109%
109%
8

109

108%
108%
108%'
108%

109%
109%
109%
109%
109%

109%
109*
J 96% 109*
108* 109%

108% 108%
108% 108*
108
108*
107* 108*

107* 108%
107* 108*
107* 108*
107* 108*
108% 108*
108
loft*
106
106%
ft

£

davs. day8.

107*
107%
107%
107*
107%

308%

108%

307*
307*
308*

108

108%

S.

308%
108*
10t%
108%

309%
109*
JOt#*
109*
108* 109*
108% 109*
8.

October.
60

£

days. days.
107% 109

107% 108%
107

108*
107* 108*
S.

108

106% lf/7%

107

106% 107%
106% 108

105% "106%
106% 10ft

(Holiday.)

306

106

209%

108* 109%
107% 108*
107
107%
105% m l
105% 106%
105% 106%

106*^108*
106% 108

106

308
108

106

309*

dayg.days,

106% 107%
106% 107%

107
107

109*

108% 109*

£

105% m
105% 108%
106
108%

108* 109*
109*

60

107% 108%
107* 108*

107
107

108*
108*
108%
108%

November

108
J08
J07

ft,

106% 308

307
108*
106% 108
106% 308
106% 108%

106jyO8*
306* 108*

K6% 108%

106% 308%
106* 108%
106% 108*

S.

108%
108%

106% 308%
J09
109
109

107
107

S.

106% 308*
106% 108%
107
108%
107* 108%
107
108%
107
108%
S.

107* 108*
107% 308%
107% 308*

(Holiday.)

107* 308%
107* 108*
ft.

December.
60

£

days, davs.
108% 109%

10(3% 110%
108% 109%
108

109

108* 109*

108% 109%
108*
108*
108%
108*
108*

109*

109*
309%
109%
109*

108*^109*
109% no

109
109
109

109%

1012*
109%
108* 109%
108% 109*
108* 109%
108* 109*
108* 109%

(Jfoliday.)
108% 109%
108% 109*
ft.

109

J09*

108* 109%

FOREIGN EXCHANGE.

221837910364729...

33

1874-1S75-1876.

In 1874 rates for sterling bi Is were unusually steady, and during a large
part of the year were very firm. The rates readied
specie shipping point several times, leading to considerable shipments of coin. Tne return movement late in the ye-r of United
States Government bonds to this country was estimated by some of the most competent judges here to amount to about $3,000,000.
In 1875 there was little to disturb the course of exchange so far as the transactions between the Uuited Sratt-s and
foreign
countries were concerned; but the rates were greatly depressed at times by the scarcity of cash gjld in New York, aud the conse¬
quent high rates on gold loans forced by speculative manipulation.
In 1876 the price of foreign exchange was very little disturbed either by speculative
manipulations or by bond negotiations
abroad, and tbe market was left to take its course as governed by ordinary trade influences. In the first seven*months of the year
rates frequently ruled high enough to admit of the shipment of specie at a
profit; but after July the*, market weakened, and during
the last three months there was little active demand from any quarter and rates ruled so low as to induce cons derable
shipments
of coin from abroad. The large excess in the exports of the country over the
imports was generally believed to have had an
important bearing on tbe rates of exchauge.

20514578698317619...

12287150945037948...„
1

January.

Day of

60

Month,

205.

.

February.
60

3

day?, days.
Holiday

days. days.
S

S

4.83

4.67

4.82# 4.S6#
4.82

4.86

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3

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11
12
13

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24

20

28

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31

60

Jane.

.

3

60

July.

3

3

S
4.84
4.83

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4.87#
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4.87#

60

-

3

60

days. days. days. days. days. days.
4.3*# 4.91# 4.88# 4.91
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S
4.37
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4.67# 4.91
S
4.85 4.88# 4.85 4.88
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S..
4.87* 1.91
4.86
4.89
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Holiday.
4.85 4.83
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S
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4.8S 4.90#..
S
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4.83
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4.91

.

....

..

..

..

4.83# 4.87
4.83
4.86#
4.83
4.86#
4.84
4.87#
4.84
4.87#

September.

August.

60

days. days.

4.85# 4.88# 4.83
4.85# 4.88# 4.83

..

..

....

•

.

.

....

•••■

-•••

•

.,

.

.

...

•

January.
60

February.

March.

60

3

davs. days.
4.67 4.3*#
4.87
4.69#
4.87
4.89#
4.86# 4.S9
4.86# 4.S9

60

3

April.

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October.

3

1875.

Month, days. days.
1
Holiday.
2
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S
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4-80
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3

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days. days.

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18

24

April.

March.
60

3

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3

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2186745310...

34

12218976530987435...'
0

31.

FOREIGN EXCHANGE.
1877.

In 1877

exchange ruled quite steadily in the early part of the

exports of domestic products were large,
of United States bonds from
abroad, the

January.

February.

March.

Pay of 60
3
60
3
Month, days. days. days.
days.

9

...

12

...

Holiday.

4 84
4 84#
4 84#
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4 86

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4 85

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4 &5
485

8524
8554 4
85# 4

60

year, but after July, as the large
the price declined and ruled low during the balance of the crops began to come in and
year.
Except for the return
price would probably have been lower and the imports of
specie would have been larger.

April.

3

60

May.

3

60

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4

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4




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July.

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days. days. days. days.

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days. days. days days.
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INVESTMENTS

AND

PRINCIPLES RELATING TO
i

SPECULATION.
INVESTMENTS.

-

«

In

purchasing securities for investment, the important points considered are the following: first, that the
principal and interest shall be secure beyond question ; second, that the profit, or annual rate of interest,
realized on the outlay should be satisfactory; third, that the securities purchased should be
readily saleable; and
fourth, with parties engaged in active business, that the securities should be available to pledge as collateral for
loans, in

case

it should be desired

so to use

them.

The great

bulk of investments in stocks and bonds is divided among (1) U. S. Government bonds; (2) State,
city and county bonds; (3) bonds or stocks of corporations; (4) bonds and mortgages on real estate..

As a general classification of these several forms of investment, the most obvious one is that which divides
them into two sorts: first, those depending on the character,
standing, and permanent solvency of the party issuing
the obligation; second, those having a lien on specified
pieces of property, and dependent mainly on the value of
such property for their security.
In the first class

belong U. S. Government bonds, State bonds, City bonds,
County and Town bonds, and the stocks or plain bonds of corporations. In the latter class belong the mortgage
bonds of railroads or other companies, and real estate bonds and mortgages. This distinction is
mainly important
in presenting to the investor the option of
trusting in the integrity and probable permanent stability of the

government or corporation issuing a stock or bond; or, on the other hand, of trusting in the permanent value of
a
specified piece of property, in a certain location, on which his bond is secured. The experience of the past ten
years in this country has shown that one class of investments has been almost as fallible as the other, and with
the single exception of the bonds of the United States, all of the classes named have been
subject to great depre¬
ciation, and some of them to total loss. Upon the whole, it may perhaps be said that there has been a smaller
percentage of loss hitherto on real estate bonds and mortgages, and on city bonds, than on any other form of
investments named, except U. S. Government securities.
Coupon bonds, payable to bearer, are the most popular for ordinary transactions, as they pass by delivery
from hand to hand; there is no trouble of registering and the
coupons may be cut off and forwarded for collec¬
tion.
The main objection to these bonds is that they are almost as
negotiable as a bank note, and if stolen, can
be sold to any party who has not notice of the fraudulent title of the seller. The fact that lost or stolen
coupon
bonds have been advertised by their numbers will not invalidate the title of an innocent holder, as it cannot be
held that every purchaser of a bond is bound to have
knowledge of all such notices or advertisements. Coupon
bonds often have the privilege of being exchanged into registered, but, except in a few instances, cannot be

changed back from registered to coupon.
Coupon bonds, registered as to the principal, have been issued of late years, for the purpose of making the
principal of the bonds safe against theft, and still enabling the holder to collect his interest in the convenient
form of coupons. The objection to these bonds is in the fact that if the bond is lost,
any holder can collect the
coupons, and when the principal falls due litigation is likely to ensue before the title of the original holder can be
established.

Registered bonds are entered in the transfer books of the party issuing them, in the name of the owner,
and the title can only pass from one holder to another on a
change of the registry, which must be done by
the party in person, properly identified, or
by power of attorney, and in the latter case either the signature of the
party or the attesting witness must be known to the transfer agent. When U. S. registered bonds are sold, the

assignment on the back should be executed by the party to whom the bond is issued, with his initials and the
spelling of his name precisely as they are in the body of the bond. The difference of a single letter in the spelling
of the name will prevent the transfer of the bond at
Washington. When about to assign a registered U. S. bond
the holder should read carefully the note printed on the
back, and follow literally the directions there given.
If U. S., registered bonds are lost or stolen,
payment may be stopped by notifying the Treasury Department
at
Washington, when they will not be transferred or redeemed except on the order of the rightful owner. If
destroyed by fire or otherwise, duplicates will be issued to the registered owner upon satisfactory proof of
destruction being furnished to the Treasury Department, accompanied, when required, by a suitable bond of
indemnity. Parties assigning registered bonds should notice that an acknowledgment before a notary public,
which is accepted by the Treasury Department in the case of all other issues, is not accepted in the case of the
fives of 1881, the four-and-a-halfs of 1891 and the fours of 19*7; while, on the other hand, an acknowledgment
before the president or cashier of a national bank, accompanied with the seal of the bank, will answer in the case
of the three issues above-named, but will not be recognized on any
of the others. In assigning registered bonds
for sale in the market, the space for the assignee’s name should be left blank, to be filled
by the purchaser or
future owner of the bonds, with the name of the person to whom it is to be transferred.
Registered bonds, properly assigned in this form, with the assignment duly acknowledged, pass by delivery
among dealers and brokers, and parties known to each other, but should not be received from strangers without
proper identification and satisfactory evidence of the genuineness of the assignment and attestation, as both are
sometimes forged. Purchasers of registered bonds, assigned as above, may hold and resell them in that form, or
forward them to the Treasury Department at Washington for transfer to their own name, as they may prefer.
Registered stock (usually issued by States or cities) is in much the same form as shares of stock in a corpora¬
tion, and passes in a similar way by change of registry on the books.
Shares of stock in corporations are issued in certificates entitling the holder to the number of shares therein
specified, and pass by change of registry on the books of the company, which can be made by the party in person
or
by power of attorney, as in the case of registered bonds.




30

INVESTMENTS AND SPECULATIONl

INVESTMENTS OF FINANCIAL CORPORATIONS
IN

of

corporations is separately stated, together with the amount of
by them, in the two years r spectively. There are some slight differences in the method of
making returns in the two years, hut tli°se are not
sufficiently
important to vitiate the comparison. The foot notes indicate the
particulars in regard to each class of
corporations, so that the

NEW YORK CITY.

The official reports of our

each Sort of investments held

city corporations made to the close of
published in time to permit of the

the calendar year, are not

compilation of this article for the Financial. Review, issued
early in February. Hence the report here given of their total
investments at the opening of the
year 1S77, is of interest rather
as a matter of record and for
comparison, than of present impor¬
tance

basis

which

on

thier statements

known.

'

e’ement in the financial situation.
Indeed, it is to be
regretted that the officia’ reports of all corporations made to the
as an

a

have

we

porations made at

or

now

near

the

taken the statements of all

beginning of the calendar

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solvent and

as were

1877,
.

are

continuing in business

on

OO

brought into the comparison for that

year:

1877.

,

Banks—
National....;

No.

Savings

Amount.

173,367,302

Insurance—
Fire
Marine
Life

No.
47
28

5.608.099

32

1876.

,

$51,499,041

47
29

State

.

38

73

34 688,782

72

9

17,146,978
171.769,022

9
19

26,751,160

8

14

‘Trust companies

8

Grand total

It will be

$480,830,084
observed that the

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15.197.598

25,941,270

9

$419,160,378

was as

AGGREGATE

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County and town bonds...
Company securities..

li.E. bonds and mortgages.
Iieal estate

.

,

Total

State banks unclassified..,

17,595,122
62,8 6.586
6,684,103

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summaries the general results of the
comparison between 18'G and 1877 are fully shown. Each class




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899,068

conclusion, it may be remarked that the result of the inves¬
tigation and comparison is generally satisfactory. The invest¬
ments of capital and assets,
by a large majority of our financial
corporations, have been conservative and judicious. The mistikes in their management have been more
frequently iu the line
of discoemts^ advances, loans on
collateral, or'/iher si/ < lar mat¬

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$451,374,629

369,284

In

are

to

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19,9*5,917
61,291.133
7,373, 55
12,640.980
200,118,977
31,645,013

$480 830.984
$479,460,378
$452,273,697
In the relative amount of the different classes of
securities
held there were some important
changes during the year 187G,
the principal increase
being in United States bonds and main
decrease in real estate mortgages.

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ters in the routine ?f their

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$480,410,384
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$118,319,354

60 205 972

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1876.

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$136,629,322

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to

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21,787,799

OWNED BY ALL THE CORPORA¬

8,565,171
15.56.’,173
205,9 .2.345
3.',800,291

14. *97,832
192 672,5-5

CO

1-3

TIONS.

1877.

l-

-

CO

INVESTMENTS

—1

KO
©

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a
a

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follows:

TJritod States 1)011(13.....
State securities

z

CJ

OF EACH CLASS OF

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o

to

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v>

in

vO

1+

33

«
iu

«>

H

a
a

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14

classes of investments owned differed
very little from the total in
1S7G, the decrease being with the national banks and
savings
banks, while the several ether companies show a slight
increase.
The total of each class of invdgtmenta owned
by all the corpo¬

rations

ci

v>

73

(M

CJ

P4

$432,273,097
the

a3
y

in

in

a

31,616.696

"to

03

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g

?l

00

00

oo

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.

CO

CO
CO

i-

Amount.

total amount of

CO

S
i—

$52.': 02 095

154,130,069

to

—H

30

48
27
43

9
20

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No.

71

O

Vi

Amount.

172,197,958

r

^
03

a
Cl

SI

$55,4^5.229
4,548,200
175,989,9:2
33.755,678
15,-731,212

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33

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a

*,640.882

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fn

AGGREGATE INVESTMENTS OWNED BY EACH
CLASS OF CORPORATIONS.

~

CJ

I CO

CO

t-

w

January,

I CO

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v>

w

the 1st of

C3

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comparison for three years, and the total in¬
vestments, classified according to the corporations
owning them,
were as follows, it
being understood that only such corporations

©

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P4

more

now a

a

©

©

oo

cS

year.

January.

is

u i

a

the 1st of

s

Vi

cor¬

comparison, and hence for
1877 and subsequently the figures will be given from

00

<

30

vitiated the usefulness of the

measure

o

03

l-

o'

compensation for the vari¬
regards the other corporations, which in a

as

as

o'

03

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c

advantage of having

a

03

00

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A

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i*
00

oo
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CO

X

In the articles published in the Review for two
previous years
the State and National Banks were
brought down to a period
about six months later, hut the
recent returns was

a

Vi

gained if the reports of railroad companies and life insurance
companies could be obtained within
thirty days after the period
to which their financial statement is
prepared.
In the tables given below are
presented the figures showing
the various classes of investments owned
by financial corpora¬
tions in New York
City on or about the 1st of January, 1877.
National 'and State Banks,
Savings Banks, Insurance Com¬
panies and Trust Companies, are included iu the statements, but
not the corporations of other States or
countries doing business
here through branch offices.
The subject of the investments of its
moneyed corporations
forms a chapter of much interest in the
financial history of New
York City, and to make the figures
come as nearly as possible to
uniform date

be clearly

may

Cl

cn#

b'tate authorities cannot be
given to the public promptly after
the dHe to which
they are made. A decided advantage would be

a

o
u!
0.1-

c\»

compiled

are

.

£

ri
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ci

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S 3 H
O

INVESTMENTS AND

SPECULATION.

37

UNITED STATES BONDS.

CITY, COUNTY AND TOWN BONDS.

The amount of these securities owned by our city corporations
on the first of January, 1877, was $150,971,118, against $133,-

Among these we find that city bonds increased about $2,500,000
county and town bonds decreased about $2,000,000. But a
part of this difference, as between cities and counties, may be
accounted for by a difference in the method of returning New
York County bonds in the two year.-1, as there has been some
little discrepancy in the classification of these since the County
organization was abolished. City bonds have been a favorite
security of late years, notwithstanding the large increase in city
debts, and as the bonds of cities in New York State fall within the
limits prescribed for the investments of savings banks and insur¬
ance companies, they have necessarily met with a good demand
and

629,322 in 1876, and $118,319,354 in 1875, showing a marked

holdings of these, which are considered the
The figures relate to the par value
of bonds (except in the case of life insurance companies and the
State banks) and not to the market value, which fell off consid¬
erably in consequence of the funding operations and the
calling in of five-twenty bonds by the Treasury.
If the
in the

increase

soundest of investments.

five-twenties of

market,

we

1867 be taken

a

as

standard bond of

the

find that in January, 1876, the highest price was 122£.
highest price was 114, or a decline of
cent. On the bonds held in January, 1876, amount¬

and in January, 1877, the
about 8 per

from that quarter.
STOCKS AND BONDS OP COMPANIES.

ing to over $136,500,000, this shrinkage must have occasioned a
several holders of nearly $11,000,000.
It was a
feature somewhat peculiar that as the credit of the government
improved, the holders of its securities should thus meet with
loss, but it arose from the risk taken in purchasing bonds far
above par which were already liable to be redeemed, and also in
trusting too confidently to the continuance of a gold premium at
or near 110.
The lowest price of gold in January, 1876, was
112f, while in January, 1877, it was down to 105£.

There

loss to the

a

decrease of about

$1,000,009 in this class of

securities, as the extraordinary losses since the crisis of 1873 have
shown that

they are not, as a class, the proper sort of investment
funds, such as the assets of savings banks and life
insurance companies.
for trust

REAL ESTATE AND REAL

ESTATE MORTGAGES.

Prrhaps the items more closely looked to than any others will
be those of “Real Estate Bonds and Mortgages’’ and “Real
Estate.”

STATE BONDS

The Life Insurance Companies

and Savings Banks are
large amounts of bonds and mortgiges, nearly all
secured on real estate in this city or vicinity, and with the notori¬
ous heaviness in real property during the last two years, it is
with some curiosity that we look to see the natural consequences
of this condition of affairs reflected in their returns.
Up to the
1st of January, 1876, the effect of foreclosures is not shown to so
large an extent as might have been expected. The increase in
mortgages in 1875 was about $5,850,000, and the increase in real
estate
only about $1,150,000—the latter item presumably
embracing real estate bid in at foreclosure by the companies
thunselves, in default of bids sufficiently high to cover the face
holders of

the largest and showed a
off in 1876 ot nearly $3,000,000. With the gradual
clearing off of Southern State securities by selling them at wnat
over the market will allow, and with the large reduction in New
York S 'ate bonds by the payment of the bounty debt, it may be
expected that the amount of State bonds owned by our financial
corporations will be still further reduced in the statements
rendered on the first of January, 1878. Hereafter, the amount of
State bonds is not likely to be increased, as nearly all the States
are fortunately reducing rather than increasing their debts, and
as bondholders have no remedy against “ sovereign ” S ates by
action at law, the State bond has become, under frequent repudia¬
tion, a security of not the highest reputation.
The item of State bonds is not one of

further falling

*

was

of the

mortgages.

INTEREST AND INVESTMENT TABLES.
The tables

following show (in the Compound Interest Table) the accumulation of principal and interest

on one

dollar at various

rates per annum from 1 to 10 per cent, interest being compounded semi-annually, and (in the “ Tables for Investors”) th ^ rate per
cent per annum realized on securities purchased at various prices, from 10 to 300.
Thus, by use of the tables, it is seen at a glance
that a 7 per cent $1,000 bond purchased at 83 pays 8T3 per cent a year on its cost.
The accumulation of principal and interest is
seen to be in five years $1,410*50, in ten years $1,989*70, which in this case would be the result of an outlay of $860, provided the
interest was re-invested semi-annually.

COMPOUND INTEREST TABLE.

cent.

2 per
cent.

3 per
cent.

4 per
cent.

$10100

$1-0201

$1-0302

$1-0404

6

1-0201
1-0303
1 0407
1-0511

1*0406
10615
1*0828
1*1045

10613
1 0934
11264
1-1605

6

$10616

$1*1267

1-0830
1-0949
1-1059

1*1494
1*1725
1*1961
1*2201

11
18
13
14
15

$11170
11281
1-1394

Number of Years.

1 per

4%

per
cent.

5 per

cent',

j

6 per
cent.

7 per

7 3-10 per

'J1 cent.

10 per
cent.

8 per
cent.

cent.

$1-0455

$1-0506

$1-0609

$10712

$1 0743

$10816

$11025

1-1715
1-2188

1-0930
1-1438
1-1948
1*2481

1-1028
1 1596
1-2184
1-2800

1-1255
1 1940
l-26b7
1-3439

1*1475
1-2292
1-3168
1-4105

1-1530
1-238?
1*3308
1-4298

1-1692
1-2646
1-3678
1-4794

1-2156
1-3400
1 4773
1-6287

$11956

$1 2681

$1*3004

$1 3448

$1-4257

1-2317
1-2689
1 3073
1*3463

1-3193
1*3726
1*4281
1*4858

1*3643
1-4264
1-4913
1-5592

1-4129
1-4845
1-5596
1-1385

$1-5110

$1-5360

$16002

$1-7957

1-5125
1-7024
1-8061

1-6186
1-7339
1-8574
1-9897

1-6502
1-7729
1-9047

1-7307
1 8720
2 0247
2 1899

$1*2446

$1-3875

$1-5458

$1-6301

$1-7234

$1-9161

$21315

1-4295
1*4727
1-5172
1-5630

1-6082
1-6732
1-7408
1-8111

1-7044

1-7820
1-8631
1-9479

1-8086
1-9001
1-9963
2 0933

2 0326
2-1564

11508
11623

1*2696
1*2952
1 3212
1-3478

2-2878
2 4271

2-2833
2-4459
2-6201
2 8068

2 3617
2 5372
2-7258

16
17...
18
19
20

$11740

$1-3748

$1-6103

$18843

$2 0365

$22027

$25749

1-1857
11976
1-2096
1*2218

1-4025
1-4307
1-4594
1-4888

16589
17091
1.7607
1-8140

1-9604

23142
2*4313
2-5544

2 7317

2 0396
2 1220
2 2078

2-1272
2-2240
2 3252
2 4310

$3-0067

2-6837

3-0746
3-2618

21
22
23
24
25

$1-2341

$1-5187

$1-8686

$2-2970

$25415

$2-8196

$3 4605

1-2465
1-2590
1-2716
1-2843

1-5492
1-5804
1-6121
1-6445

1-9253
1-9835

2 6572

2 9624

2 1052

2-3898
2-4863
2-5868
2 6913

2-7781
2-9045
3 0367

31123
3-2699
3 4354

$1-2973

$16776

$2-1688

$2-8006

$3-1749

$36094

3*3193
3-4703
3-6282
3-7933

3-7921
3-9841
4-1858
4 3977

$39660

$4 6203

4-1465
4 3351
4 5324
4*7387

4*8542
5 0999
5 3581
5 6294

1
2

1 0723

8
9

10

....:

26
28...
29...
30
31
32
33

35...

86
87
38

1-7113
1-7457
1-7808
1-3166

2-3715
2 4432

2-9131
3-0318
31543
3 2818

$r..637

$18430

$2 5170

$34144

1 8773
1*3911
1-4051
1-4192

18800
1-9176
1-9562
1-9955

2 5931
2 6715
2 7522
2-8354

$1-4334

$2 0356

$29211

$41621

$4-9543

1-4478
1-4623
1-4770
1*4918

2 0765
21183

4 3302
4 5052

2**2043

3-0094
31004
31941
32907

4-6872
4-8766

5-1798
54146
5 6610
5 9288

$22486

$3"3901

$5 0736

4349

3 4926
3 5982
3-7070
3 8191

5-2785
5 4928
5 7147
59156

$2--i833

$3 9345

$6-1858

4-0432
4 1655

6 4357
6-G957
6-9662

43
44
45

21608

.$1" 5067
1-5218
1-5371
1 5545
1*5701

2
2
2
2

$15858

49

1-6017
1-6178
1*63 0

50

l-64£4




2 2344
2 3019

1-1261

1-3103
1-3235
1-^367
1 3501

41

46
47

2-0434

1 0824

’

-

2938
3399
3869

2 5338 ^
2*5847
2 6367
2 $897

4*2914

3 5523
3 6958
38451 ^
4-0005 7

mu

16047

.

2 0462
$2-1982

1
|

1-9744
21824

2-4061
2

65SJ

$2-3687

$2 9250

2-9284

2 5619
27710
2 9971
32417

3 2248
3 5558
3-9198
4 3216

$3 1461

$3 5062

$4 7646

3 2208
3*4502
3 6960
3-9592

3-3810
3 6312
3*9011
41911

3 7923

5 2529

41018
4-4365
4 7985

67888
6*8816

$42412

$4 6026

$51900

$7-7574

6712
8948
1320
3836

4 5433
4-8669
52136
5-5849

4-8373

56136
6 0716
6*5670
7 1030

8 5525
9 4292
10 3957
11-4613

$4 6506

$5-9827

$7 6826

$12-6369

9338
2343

6*4088
6 8653
7 3543
7-8781

2-8981

3
3
4
4
4
5
6
5

-

5531
8913

$6 2500

.

51969
5-5832
5 9982

$64441
6 9231
7-4377
7 9906
8 5846

8
8
9
10

7 0362

13
15
16
18

3094
9875
7208
5143

9311
3591
9334
6691

$8-4391

$9 2227

$11*3742

9 0402
9 6841
10 3738

9-9087
10 6453
11 4366
12*2867

12*3024
13*3062
14*3920
15*5664

$20 582T
22 6924
25*0184
27*5828
80-4081

$)3‘2000

$16 8367

$83 5249

2105

86-9*1*
40 7497
44 9266
49-5816

11*1126

$5 9144

$8 3996

$11*9041

6-2138
6-5284
6-8589
7*2061

89111
9-4638
10 (295
10 6403

12*7620
13 6709
W6446
15-6877

$6 1986

$7 5709

$11-2883

$16 8050

$18 8915

$24 9224

6-4807
6 7756
7-0840
7 4062
’

6 6307
7-0345
7 4629
79174

7 9542
8*3569
8 7800
9 2245

11-9758

$54-6086

127051
13*8832

14-7287

18-0020
19-2842
20 6577
22-1290

20 2956
21 8048
234250
251663

26 9561
29*1857
81-5348
34 1080

60 2059
66-3771
73 1807
80-6817

$77430

$9 6915

$15-6257

$28 7052

$27 0369

$36 8813

883*9516

8 0954
8-4638
88490
9 mo

101822
10-6967
11-2383

16-5773
17 5868
18*6597

*25-3936
27-2022
291397

29*0466
31-2057
88-5253

5 98*0692

11*W72

19*7911

81-2141

86 0154

39 8908
48-1459
46*6666
60-4716

'

14-1811
15 2353
16 3677
17-5844

18
19
21
23

6965
8038
0422

|

1071218
1181013

130-2066

38

TABLE

FOR

INVESTORS.

per cent

13 -3

20

200

'

90 83-33 92 71-42 66 62-50 58-82 55 52-63 47-61 45-45 43*47 4166 39-21 38-46 37-73 36-36 35*71 35-08 34-483380 33 32'78 25 31*74 3125 30-76 30-30 29-85 29-41
98 28-5728*16 27-39 27-022666 31 97 25-64 31 69 24-39 09 80 52 2325 98 72 22*47 82*»
'37-03
27-7

90

66

76

100

’

50

55

40

32

33

'

28

26

24

25

25

25

24

23

‘

23

22

22

•

per cent.
12r
e cent.
r
15

|

j

„

|

per cent.

30

22

20

20

18

54-54

55

15 42-85 37-50 35-29 33 31-57 57 27 26-08

46'

50

45-83 30 39-28 36-66 37 35 55 2894 27-50 26-19

50

42

910mduy(iatecpo2vsw.ane,frhlug7h*—6

per cent.

per cent

22

21

20

19

17

25

22

22

•

20

18

16

17

18

16

16

15

I4

14

14

14

14

14

13

13

13

13

12

15

16

15

13

63- 47-5043-1839-58

33

35

per cent.
1

12

25

26

23

22

20

19

34

32

32

17

16

16

15

14

14

14

13

13

13

13

10

23

25

20

18

30

'

2812 26-47 68 22-50 2142 45 19*56 18-75 1764 30 16-98 66 36 1607 15-78 51 25 14*75 14.51 1428 06 84 13*63 43
23 04 85 67 50 32 1216 11-84 11-68 11-53 11-39 11-25 1111 1097 1084 71 10-58 10-46 1034 10-22 1011

30

26

16

17

15

16

'

15

15

14

13

13

13

13

12

12

12

12

12

10

61 36 2125 2023 1931 18-47 70 66 1634 16-03 1574 15*45 1517 1491 65 1440 1416 13*93 70 49 13-28 1307 12-87 12-68 50 12-31 1214 11-97 11-80 11-63 11-4911-33 11*18 11-03 10-89 1075 10-62 1049 10-36 24 1011

25

22

*23

17

17

16

14

12

10

26

25

21

20

14

13

10

50 09 31-25 28-84 78 43 05 20-83 19-73 18-75 17-85 17-04 30 15-62 14-70 14-42 1415 13-88 1363 1339 13-15 93 1271 12-50 39 09
11-90 11-68 11-53 11-36 1119 1102 10-86 10-71 10-56 1041 27 1013

50

75

10

34

37

26

25

23

22

16

15

12

12

12

10

4866 50 33-18 3041 0726-07 33 81 2147 2027 1921 18-25 17-38 59 15-86 1520 14-60 14-31 14-03 77 13ol 1327 as 12-80 12-58 37 1216 11-95 11-77 11-58 11-40 23
1106 10-89 10-73 10-57 10-42 10-28 1013

73

36

pr

28

24

per cent.

35

70

29

25

13

13

13

12

12

10

21 2166 31 19-11 18-05 17-10 25 1547 14-77 14-131354 12-74 12-50 26 03 11-81 11-60 11-40 11-20 1101 10-83 10-65 10-48 1031 1015

29

32

23

25

20

16

12

13

40

30

20

16

15

14

13

12

11

10

10

10

9.86 974 9'6l 949 937 925 914 903 892 8-82 8-72 8-62 852 842 883

9-85 9-72 958 9-45 9-33 921 9-09 8-97 886 875 864 8-53 8-43 8-33 823 8-13 804 7-94 7-86 7-77

,’

9-84 9-70 55 942 9-28 915 902 890 8-78 66 8-55 8-44 33 822 812 8-02 7-92 7-83 773 7-64 7-55 7-47 38 7*30 7.22
8

8

7

83 967 9-52 937 23 909 fi-95 882 8-69 8-57 845 8-33 8-31 8-10

25

23

10

10

9

12

27-27 07 21-42 18-75 1764 66 15-78 28 63 1301 12-5C 11-76 "53 1132 11-11 10-90 70 10-52 34 1016

6

60

12

987 975 963 9-52 941 930 919 909 8-98 8-88

8

11

20

14

43-33 50 54 27-08

65

12

19

|

6X

13

46-66 31-81 16 26*92 23*33 21-87 58 44 18-42 17-50 16-66 1590 1521 14-58 72 46 20 1296 12-72 50 27 06 11-86 11-66 11-47 11-29 1111 1093 10-7610-6010-44 29
1014

7

cent.

13

10

10

10

986 9-73 9-60 948 9-35 924 912 961 890 879 869 8-58 8-48 39 829 8-20 8-11

22

16

j

10

9

9

8

7-89 7-79 7-69 759 7-50 7-40 731 22 7-14 7-05 6-97 6-89
7

10

681

674 666

.

per cent.

36 6 27-50

5X

55

1

per cent.

97 2115 1964 18-3 17-18 16-17 27 47 1375 09 12-50 11-95 11-45 10-78 10-57 37 10-18

25

22

15

14

13

10

11

9-82 964 9-48 32 916 901 8-87 8-73 59 8-46 833 8-20 8*08 797 7-85 74 63 53 43 7-33 7-23 7-14 7-05 6-96 6-87 6-79 6-70 6"ti2 654 647 39 6-32 625 617 611
9

8

7

10

7

7

7

6

1

33 22*72 20-83 23 17-85 16-66 15T.2 14-70 13-8 1315 12-50 11.90 11-36 10-86 10-41

5

50

9-80 961 43 925 909 8-92 8-77 62 847 8-33 8-19 806 93 7-81 7-69 757 7-46 35 7-24 7-14 7'04 694 684 675 666 6-57 6-49 641 32 625 617 609 02 595 5-88
581 574 568

25

33

5*55

9

19

8

7

7

6

6

10

561

~

per cent.

45

30

22-50 45 18-75 30 16-07
17

per cent.

4

.1406 13-23 50 1 -84 11-25 10-71 22 9-78 937

20

4X

15

12

66 18-18 66 38 28 13-33 1250 1176 1 -1 52

40

26

52 909 8-69 8-33

9

20

16

15

8-82 8-65 8-49 8-.33 8-18 8-03 7-89 7'75 62 7-50 737 7-25 714 03 692 681 6-71 6-61 652 642 33 25 16 6-08 5-92 584 576 569 62 555 548 542 535 529 23 17 511 05*

9

7

14

10

6‘

7

6

10

6

6

5

5

8

7-84 76» 754 7-40 7-27 714 7-01 6-89 6-77 66 6-55 6*45 634 625 615 606 5-97 5-88 79 5-71 5-63 55 547 540 5-33 526 5-19 512 506
6

10

5*

5

5

5

5

*

5

493 4-87 4-81 476 470 4-65 4-59 454 449 444
—

per cent.

33 1750 90 14-58 13-40 50 1 -6 10-93 29

35

23

3X

15

12

72 921 8-75 33 7-95 7-60 7-29
9

8

7

10

6-8C 6-73 60 648 "36 23 614 6-03 93 83 573 564
6

6

6

5

5

55 46 5-38 530 5-22 5-14 or
5

92 4-86 4-79 4*72 4-66 4-60 454 448 4-43 4-37 32 4-26 4-21 16 411 406 4-02 8-97 393 388

5

4

5

4*

4

.

per cent.

per cent.

15

per cent.

per cent.

33
13

6

6

6

5

09 8-33 7-69 7*14 666 25 88 5*55 526
6

5

5

4'7G 4-54 34 416

9

10

5-88 fr-76 566 5*55 545 5*35 5*26 517 508

6

5

4

per cent.

491 4-83 4-76 4-68 4'61 454 447 441 434 4-28 422 4-16 410 405

•

6

6

5

5

10

5

468 4-41 16 94 75 357 3-40 3-26 3*12
4’

3

4

3-94 389 384 379 375 370 365 3-61 357 352 348 V44 340 337 3-33

4-90 4-80 71 "62 5f 46 438 4‘3t 23 416 09 03 96 90 384 3-78 373 367 3*62 357 352 347 42 3*37 33 28 24 20 316
3*J* 3*08 3-04 01 2-97 2-94 2-90 2-87 84 80 2*77

5

4

4

4

4

4

4

4

3

3

3

3

3

3

*94

3

3

2-8 ^

3

3

2

'

3

3

2

2

2

2

2

2

2

2

2

2

-26 263 2*59 256 253 50 246 243 240 238 2-35. 2*32 2-29 227 224 222

2

83 277 272 2-67 2-63 58 254 250 245 41 2'38 234 230 227 23 220 17 214 11 2*08 05 2-02
2

3

8

392 84 3-77 370 3-63 3*57 3*50 344 33 33 3-27 322 3-17 12 307 03 98 94 2'89 285 281 2-77 73 270

4

IX

1

5

3

7*50 81 25 76 33
15

7

10

9-61 8'92 8-33 781 735 94 57 625 95 5-68 5-43 20

12

20

937 8-82 8-33 7-89 50 7-14 81 6-52 6-25

13

1666 50 1 *36 1041

25

2X

2

63 1250 11.53 10-71

20

30

3

2

197 1-94 1*92 1-89 1-87 1-85 82 1'80 1-78 1*76 1*74 1-72 70 1-68 1*66
1

1

6'6(? 4*54 16
6

4*

10

3'84 3*57 333 312 94 377 363
2

2-60

238 27 217 0?
2

2

2

i%

92 1-83 T85 81 1-78 1*75 172 1-69 1-66 1-63 1-61 158 56 153 1-51 1-49 1-47 1-44 142 1-40 1*38 36 1-35 133 1-31 1-29 1-28 1-26 125 1*23 121 120
**19 117 1*16 114 113 1*12 111

1

1

1

1

1

'

par

30

15

20

22

24

26

its

30. .
32

34

3l)

31. '

40

42

44

40
48

BO

*1

*2

*3

o4
•6

66
67

68 bo

no

ai

62

86.

66

10

9-38 977 965 955 944

13

13

33

40

1

per cent.

13

27

56-66 42-50 63 41 69 35 28-33 56
38

13

53-33 36*36 33 76 2857 66 23-52 4*22 05 1904 18-18 17-39 1666 15-6315-38 15-09 1481 14-54 28 14-03 13-79 55
13-33 13*11 12-90 1269 1250 30 1212 11-94 11-7611-59 11-43 11-26 1111 95 80 1066 52 10-38 1025 1012

80

3-10 cent.

ex:ampl
fol wing PuPrcrhicasee.
1003to bmae)y,

67
69

TO

'ft^.

.

27
57
77
6
6
7
7
7




.

15

17

12

per

15

53 92 3166 2968 94 38 75 61 21-59 65 19-79 18-62 18-26 17-92 17*59 27 96 1666 37 1610 83 15-57 15*82 15-07 84 61 14-39 17
97 76 13-57 13-33 19 01 12-83 12-66 12-50 1233 1217 12-92 11-87 11-72 11-58 11-4511-30 11*17 1104 10-91 79 10-67 10*55

16

1

IS

20

17

2

L*»„gdioyvftl bs7wetohpacibkrncpuaermdhs iCbroWangshfet.]
anw “leum,”
from

22

23

20

20

For

The

52 23-07 64 22 81 21-42 21-05 20-68 33 19-67 19-35 04 18-75' 18-4618-18 17-91 64 17-39 17-14 16-90 16-66 "43 16-21 15-78 15-58 38 15-18 81 63 1445 28 1411 95 13-79 63 1348
13-33

22

30

7

17

25

60

85

8

1

18

29

I95 *141090 37-50 61 14
45

90

8X

VA

18

33

|

[Enter d

'

24

25

18

23-91 91 21-56 21-15 20-75 20-37 1964 19-29 18-96 1864 33 03 17-73 46 1718 92 66 16-41 1617 1594 15-71 15-49 15-28 "06 86 66 14-47 27 14-10 1392 75 13*58 13-41 25 13-09
12-84 79 1264 12-50 1235 13-23

32

30

36

per cent.

'WBD&iCiltaOnhomf.ec,
'htcfmstmck inbtewbreoaslinzd
wosenlkd, ”ftahdwr

34

27

14

9

INVESTOR.
tAaCcoooItcn1rbghdyrif8neegs7a,r2,
'
Tasworcoeahrnttienful
tatshbrpcaoloaeeewnfutlTptcaheebepnirqlstei.sy f9itnn“hc2odplueurcmhfanise

28

30

18

50

per cent.

FOR

40

33

9X

1

20

6666 45*45 41-66 3846 «5*71 33 3125 41 27-77 26-31 23-80 72 2173 83 19-60 19-23 18-86 18-51 18-18 85 1754 24 16-94 16-66 16-39 87
12 62 1538 1515 14-92 14-70 14-49 28 14-08 13-89 1369 51 33 15 12-98 12-83 1265 1250 1234 19 12-04 11-90 11-76 11-62 11-49 11-36 11-23 11*11

100

10

TABLE

23

25

80

73*13

110

cent

per

50

60

120

11

1

68-18 62-50 57-69 53-57 46-87 4 *1 41-66 39-47 37-50 35-71 34-09 32-60 31-25 29-41 28-84 2830 27-7727-27 26-78 2631 25-86 25-42 24-59 24-19 23-80 4323-07 22-72 22-38 05
21-73 2142 2112 83 54 20-27 19-7319-48 19-23 98 75 51 29 04 85 17641744 1724 17041685 16’66

75

150 100

|

78

89
7»

S::::

‘ir—"

88

64

85.

86.. .

87

[

88.

99..

M

TABLE

FOR

INVESTORS.

‘

‘38 14-81 1428 13-79 13-33 12-90 1250 12-12 11-76 "42

21-97 21-73 2150 2127 05 20-83 20-61 40 2020

per cent

16-48 1630 12 1595 15*78 1572 15*46 15-30 1515 1485 70 14-66 42 14"28 1415 14-01 13-88 13-76 63 13-51 1339 27 13-15 A/•I4K* 12-93 83 12-71 12-60 50 1239 29 12*19 1209 11-53 lilt 1071 10-34

21

14

15

16

15

12

Xo
O

10

9-67 9-37 9-09 8-82 B'57 833 810 7-69
10

12

12

12

t

1081 52 1025

11

15

16

16

16

17

13

Id

14

17

17

1*'

19-80 19-60 19*41 19-23 19*04 1886 18-69 1851 1834 18"18 1801 85 69 1754 39 1724 1709 1694 1680 66 52 1639 1626 1612

20

20

769

9-09 8-88 8-69 do

7-27 6-66

8

O

9-52'

*

per cent.

20

10

750 7-14 681 6-66 52 »QEC /CO
6

"45

6

A
O

5

5

J

rer e nt.

1318 04 1290 12-76 63 12-50 1237 12-24 1212

to

12

j 12--08 11-95 1 -82 11-70 It 11*46 1184 11-92 11*11
per
cent

11

per cent.

10*98 1086 10-75 1063 A*f>9 1041 10-20 1010

10

10-30

1

11

11

11

10-89 78 10-67 10-57 97 37 10-28 10-18 1009

ii

ii

*

11-88 11-76 11-65 11-53 42 82 11-21 1111 onyu 1081 10-71 1061 52 m*/<Q 34 10-25 1016 08
m*

13

12

10

10

1U

10

10

iu

|ep r 1cent.

10-44 32 1021 1010
10

9A

7-74 7-50 7-27 705 05 666 6-48 631 15

Q

*

8

q o

9

671

6

0

8-92 8-84 8-77 69 8-61 8-54

9

8"

8-47

840 QQGO 826 8-19 8-13 806
Q*

O

7-69 740 714 689 AADO 6-45 625
ft«U

Q

555 5-40 5-26 5-13

J6'06 588 n-o’i

4-80 436

k

4*88 4-78 58 440
4

4

3-66

4

5

-

5*

.5-4 533 5-21

523

5*78 5-64 ou

O

1

'

476 4-54 44 4-34 416
4-

K

3-63 333

4

.

9-89 979 969 959 950 940 931 22 913 904 8-96 8-87 8-79 8-71 8'63 855 8*48 840 8-33 8-26 8*18 8-11 8-05 7-98

7-85 7-78 7-72 7T-6 7-fin 7-30 703 6-78 655

9

6-12 593 575 5-58 5'42 527 513

•
n

4-87 d-riK 452 31 422 4-13 390 3-80 345 316
4

5

10

per cent.

89 978 967 9'67 47 9'37 9-27 9-18 909

per cent.

9-34 923 9-13 994 894 8'85 8'76 8-67 8'58 8'50 8"41 8-33 8-25 817 869 8’01 794 7-87 779 7-72 65 7-58 752 7-45 7-39 732 7-26 7-20 7-14 7-08 7-02 96 691 685 6‘80 653 629 6-07 586 566 5-48 5-31 5-15

per cent.

8-79 8-69 860 8-51 8*42 833 824 8-16 8-08

9

6

O

8

990 9-81 9-73 9-64 -Rfi 948 940 932 924 16 909 901 894 8-87 onoU 46 8-14 7-85 7-58 do 7*09 6-87 666 6-47 /CO 6-11 594

,

1

991 9-83 976 967 9"b0 9-23 8-88 8-57 8-27
10

1ft

9-90 0-80 9-70 961 Q-KaJV 943 934 925 917 909
.

10

10

891 8-82 8’73 865 8’57 849 841 33 8-25 8-18 810 803 796 7-89 7’82 7-75 769 62 756 7*50 7-43 7-37 731 25 7‘20 692 666 642 620

9

9

7

8

7

5-80 62 5-45 529 514

5

5

6

486 4-73 461 4-50 4-28 409

3-91 375 3-60 27

4

3

3

9

7

6

4-85 4-72 459 447 35 4'25 4-04 86 377 869 3-54 3-40 3-09 2-83

5

3

4

8A

792 7-84 7'7§ 69 7-«i

8

7

8

’

per cent.

8-24 8-15 806 7'97 7-89 7'81 7-73 765 7'67 750 742 7-35 7-28

VA

7-54

714

7-21 7-07

7-47 740 7-33 7-27 720 7-14 7-07 701 95 89 6'83 677 672 6'66 6'61 655 650 645 40 615 92 5'7! 551 533 516

T

694 6'88

’

•

6

6

675 669 6-63 657 6-52 6-46 641 35 630 6-25 6-19 614 609 604

681

5

6

6

576 555 535 517

6

4-84 4-70 457 4'44 4'32 421 4-10

5

3-80 63 3-55 3-47 33 320 290 266
3

4

3

4'83 4-63 54 4-41 428 416 405 3*94 384 375 3-57 3-40 33 26 312
3

5

4

3

2-72 2-50

3

•

'

3-10 cent

8’92 7*3 7'84 7-76 68 760 7'52 45 7-37 730 722 715 7-08 701 695 6'83 6-82 675 663 663 657 651 6*46 640 634 6-29 23 6-18 6*13 6-08 6-03 5-98 93 5-88 5'80 561 5'33 521 5-03 4-86 70 4-56 442 4-29 4-17 4-05 394 3-84 379 65 3-47 331 324 3-17 304 292 2-65 2-40

per cent.

7'69 7-60 7-52 7-44 736 29 721 7*14 70?

7

7

6

5

3

4

7

pr

7

93 86 679 672 666 d60 654 6-48 642 36 630 625 619 6-14 6-08 6*03 5-98 593 5-88 5-83 578 5-73 5-69 565 5-60 5-38 5-18
6

7

6

6

5

4-82 466 451 437 424 4-11

3'88 3-78 368 3-58 3*50
4

<

IN(CVoEnScTluOdRe).

per c•ent.

7-14 706 698 691 6-84 6-77 669 663 656 650 43 637 31 6-25 619 613

per cent.

659 6-52 645 638 631 625 6-18 6-12 6-06

per cent.

604 5-97 591 5'85 578 572 567 561 555 50 5-44 539 533 628 5’23 5-18 514 509 504

per cent.

5-49 543 5-37 531 526 520 615 610 505

per cent.

4-94 4’89 483 478 4*73 4-68 63 459 464 450 445 441 4-36 432 4-28 24 4-20 416 412 4-09 4'05 401 3-98 394 3-91 87 3-84 381 3’78 75 71 368 3-65 62 3-60 346 33 321 310

per cent.

4-39 34 430 425 421 416 4*13 4-08 404

pei cent.

384 380 376 372 368 64 8-60 3‘57 353 350 46 343 3*19 336 3*33 330 327 24 321 3-18 15 312 3-09 3-07 304 3‘01 2-99 2*96 294 2-91 2-89 86 2-84 82 2-80 2*69 259 250 241 233 225 2-18 212 05

per cent.

8‘29 326 322 3-19 3-15 10 3-09 806 8-03

per cent.

274 271 268 2-65 2-63

6

5-85 5-80 575 570 5'65 560 555 5'50 5-46 5-41 5-37 32 5-28 524 5-20

“607 601 6-96 5-90

5

5

2

2

'

4-81 464 4-48 433 419 406 93 3-82 371 361 51 42 33
3

3

3

3

3.09 295 2'88 282 270 60 236 216

325

2

•

94 5-88 5-82 576 571 566 560 "55 5-50 545 5-40 535 5'30 526 5*21 5*17 512 5-08 5-04

5
6

5

95 91 4-87 4-83 4-80 461 4-44 428 413

4

6

4

3-87 3-75 63 352 3-42 33 3*24 15 3-07
3

3

4

3

2:85 272 266 2-60 2-50 40 2-18

3

2

2

6

5

495 4-90 4-86 4-82 4-73 4-74 4-70 466 4-62 4-58 4-54 4-50 4*47 4-43 4-40 4-23 407 392 3-79 366 3-54 343 3'-‘3 23 3-14 3-05 2-97 2-89 82 2-75 261 250 244 2-39 2-29 220

5

2

2

3

1-83

5#

FOR

4-95 4-90 485 4'80 476 4-71 467 462 458 454 450 446 4-42 4-38 435 431 4-27 423 420 4-16 4-13 4-09 4-06 403

5

384 370 357 344 3-33 322 312 03 2-94 2-85 277 270 263 256 250 2-38 227 222 217 2-08

4

2

3

1*81 166

5

TABLE




8

6A

3-18 311 304 91 2*80 54 233

33
3

7

4

4

3

3

3

3

3

290 281 272 264 257

3

2-50

4%

243 236 230 2-25 214 204

2

1-97 1-87 180 163 1-50

,

4

3'96 392 3-88 384 380 377 73 3-70 366 3-63 3‘60 357 354 350 347 3’44 3-41 \88 3-36 33 330 3-27 325 322 3*20 3-08 296 2-85 275 266 2-58 2-50 2-42 2-35 2-28 2‘*2 216 210 2*05
3

4

3

3

2

190 1*81 1-77 173 166 1’60 1-45 133

4

8

3

3

3

2

2

2

1-94 1-89 1-84 1*79 175 166 1-59 1*55 1-52 1-45 1'40 127 116

2

3%

y7 94 291 2-88 85 2*83 2-80 2-77 75 272 70 67 265 263 2-60 JO 256 2-54 252 50 247 245 243 241 240 230 222 214 206

3

A

3

A

2

2

2

w

2

193 1-87 1*81 176 1*71 1'66 162 1-57 1-53 1-50 142 136 35 1*36 1-25 20 109
*

2

ou 257 2’55 252 250 <7’•i A
<c

245 242 240 2-38 CO 233 231 2-29 227 O-O*;/CO 223 221 219 217 1 2-13 211 210 208 06 204 203 201
K
m

•

Q

4

2

2
1

1

1

•2

3

1-85 1-78 172 166 161 156 1*51 147 142 138 135 1*31 128 125 119 113 111 108

2#

104

1

•90 *83
1

X

-

95

19

per cent.

06 2-04 2-02

217 215 212 210

2

uft 96 1-94 1-92 190 -fitf 1-86 85 183 1*81
•

2

1

1

1

-Cf)

1

1

2

"

1-78

1*77 75 173 -70 1*70 1-69 168 166 o5 163 162 1-60 1-60 Oij 148 142 137 1*33
1

1

1

1

1

125 1-21 1*17 1*14

in

CKi 163 1-61 159 157 -£K 154 1-63 1*51 150 148 147 145 144 142 -41 140 138 137 136 135 133 132 1*31 130 129 1-28 127 T26 125 9Q 122 *21 120 120 1 111 107 103
K

per cent.

no 108 1-07 1-08 i-os 1‘04 103 02 101

1

1

•

1

1

1

•

1

Qft
•

•93 •88 •86 *88

•93 •90 •88 •85 «Q
•

•ftft •72 •60

1

1
i

yo

per cent.

1-08 105 1*02

•81 •78 •76 •75 •71 •68

(56

•65 *62

‘60 •54 •50

*45 •44 •43 141

•40 •36 •33

1

1#

i

-

1

*99 •98 *97 •96 •95 ‘94 •93 *92 •91 •90

•90 •89 •88 •87 *86 •86 •85 *84 •84 •83 •uo

1

*81.

-•81 •80 •80

*76 *74 •71 •68 *66

•Put •62 ■60 •58 *57 •55 *54 •52 *51 *50 *47

1

•

Price.

^

>98. S:•:: ;: .J .
.aa

Purchase

2

91

?®

•6

no

rti

192 108

16 .

167 108 109

no

ns

in

ii2

ns

117

119 130 i8i 122 128

189 135 140 145 150

:

; ; -»<fO.

155 i6o i65

no

175

ic:.

iso

105

ao . .

«o

210

225 280 240

./

250 873

z•sxyrvT’.ig:a&cK}

40

STOCK

SPECULATION.

STOCK

SPECULATION.
r

Speculative transactions,

distinguished from regular investment dealings, are those conducted on
“margins,” and in which
receive the actual price of the stocks
bought or sold, but simply places a sufficient margin in the hands
as

the operator does not
pay or
of his broker
(usually 10 per cent of the par value) to protect the latter
purchases stocks in anticipation of a rise, but
pays

engaged in speculation.

against loss from fluctuations in the price. A party who
the actual price thereof, is not, according to the usual
acceptation of the term,
'

It should be

■

clearly understood that the ultimate responsibility in stock
operations is with the customer. He runs the risk of
the failure of his own
broker; nor can he hold him responsible for losses occasioned
by the fraud or failure of others with whom
he had made contracts.
The broker stands in the
position of an agent acting for his principal. It
is, therefore, hardly necessary
to remark upon the
importance of dealing through brokers who have both
integrity and pecuniary responsibility.
The great central point in stock
,

speculation, about which

the whole business

revolves, is the fact that on the purchase or sale
value of $10,000, each fluctuation of 1 per cent from the
purchase
price occasions a gain or loss of $100, and this is the same whether the
purchase is at a price above or below par.
Next comes the question of
interest, which is charged on the actual amount that the stock
costs, plus the broker’s commission
for buying, and is
usually at the rate of 7 per cent to customers, though
higher rates are charged when the money market is in
such a condition that
money for carrying stocks commands higher
figures. When money on call is worth more than 7 per cent
annum in the New York
per
market, it is customary with lenders, instead of
asking 8, 9, or 10 per cent, which would be a direct
violation ot the usury laws, to ask a commission
(nominally for procuring the loan), which commission has varied in times
of the usual amount of 100 shares of
stock,

from 1-G4 of 1 per cent to full 1
per cent a

representing

a par

past

day.

Subsequent to the question of interest is that of commissions,*which are fixed
in speculative transactions at
of 1 percent on
the par value of the stock,
amounting to $12 50 for buying 100 shares of stock and the same for
selling, thus making the cost of
one “turn” in stocks
just $25. The Stock Exchange does not allow
any transactions to be made by its members for outsiders at
less than ^ commission.
Dividends paid during the
pendency of a contract always go to the nominal owner of the stock. The
whole class of stock operations
ordinarily carried on in New York may be classified as follows :
1. Buying for a rise, or

going “long” of stocks.
Selling for a decline, or going “short” of stocks.
3. Buying or selling as
above, but on “options.”
4. Buying or
selling “ privileges,” generally known as “puts,” “calls” and
“spreads.”
The last-named are not
recognized by the New York Stock
Exchange.
1. Buying for a rise is by far the most
ordinary transaction with non-professional speculators.
usually deposits $1,000 in his broker’s hands as a 10 per cent
“margin” on 100 shares of stock which
and which liis broker
2.

holds

In this case the customer
he orders to be
purchased,

“carries” for him until ordered to
sell the same, or until the
margin is about exhausted. In the
if the customer, on request, fails to
put up more margin, the broker is at
liberty to sell the stock immediately, and
charge him with the loss, if any. Interest is charged the customer on the
purchase price, with buying commission added, usually
at 7 per cent, as
long as the stocks are carried. In case of a
tight money market the broker is entitled to charge his customer
additional price which money
any
actually commands for carrying the stocks. A
party carrying stocks for a rise is said to be “long”
of the market, or a “bull.”
or

latter case,

2.

Selling for a decline, or going “short” of stocks
(being a “bear”), is also a very common transaction, and is simply the
opposite of buying, as above, except that the seller, not
having the stock, is obliged to borrow it for present delivery, and take the
risk of buying it tiack at a future
day, to return to the lender. Aside from the
ordinary fluctuations of the market, the chief risk
in thus “selling short” is in the chance
of a ‘'corner” iu the stock in
case a clique
get control of it and force prices up to
extraordinary figures. This is a rare operation, but has at times been
effected in
consequences to those who

“short” of the cornered stocks.
it is scarce, a consideration has to be
paid for the use from
were

the

As

New York market

with

disastrous

general rule, nothing is paid for the use of the stock; but in
case
day to day. Margins and commissions are the same as above.
3. Buying or selling on
“options” is a transaction in which the purchaser or
seller, as the agreement may be, has the option to
call for or tender the stock at the
price named, at any time within the period limited
by the contract; but the Stock Exchange does
not recognize contracts
running over GO days. Thus a party anticipating a rise in stocks
purchases 100 shares, “buyer 30,” or on
his option to call for the
delivery of the stock at any time within 30 days, at the price
named; this price is usually somewhat
above the current price at the time.
If a decline in stocks is
expected, a sale is similarly made “seller 30,” or at seller’s
deliver at any time within 30
option to
days at the price named, and the price is usually more or less below the
market at the time.
In
purchases on buyer’s option (for any time over three
days) the buyer is charged with interest on the price of the stock
he calls for it.
up to the tim0
In sales at seller’s
option the seller is credited with interest on the
price of the stock till he chooses to tender it.
Interest in either case is at 6
per cent, according to a rule of the Stock
Exchange; and at the end of the optional period the seller is
obliged to deliver, and the buyer to receive, the stock, if the contract has not
previously been closed; Margins and commissions
are the same as above.
4. Stock

privileges,

a

“Puts,” “Calls,” and “ Spreads” or “ Straddles,” as
they are commonly called, are contracts entitling
at any time within a
period limited (usually 30 or 60 days) and at a price therein speci¬
fied; in the case of “spreads” the privilege is either to receive or deliver.
A certain cash price is
paid for the contract by the pur¬
chaser, and his entire liability in the transaction is limited to that
amount; and, as the question of interest does not enter into the
matter, the uncertainties of the
money market need not be taken into consideration. The amount
paid for a 100 share privilege is
generally $100 for 30 days, and $150 to $200 for GO days, and for double
privileges a larger amount. The variance from the current
market price at which
privileges on different stocks are sold varies widely,
according to the character of the stock named and the
condition of the market at the
the holder to receive

or

or

deliver certain stocks

time.

A “ Put” entitles the holder to
put or deliver stock to the
the contract reads
substantially as follows:

signer thereof, within the time

1 or Value
Received, the bearer may deliver me One Hundred Shares of the stock
of the
time in thirty days from date. The
undersigned is entitled to all

dividends declared

A “Call” entitles the holder thereof
to call for

reads about

as
k

For Value

follows:

(Signed)
demand stock from the
signer

Received, the bearer

time in thirty days from date.

any

or

during the time.

(.Signed)

price therein named, and

New

York,

,

Railroad Company, at the price of

per

18—.
cent, any

thereof, according to the terms specified, and
New York.
Railroad Company, at the price of

ma3r call on, me for One Hundred Shares of the
The bearer is entitled to all
dividends

declared

and at the

St.ock of the
during the time.

18—.
cent,

,

——

per

.
•

A

“Spread” is a double privilege, and entitles the holder either to deliver
to, or demand from, the signer thereof, the stocks
named in it,
according to the terms of the agreement. If the prices named in both cases
“

Straddle.”

The contract reads

are

substantially

as

may call on the

undersigned for One

’a

.

For Value

Received, the bearer

thirty days from date.
Or the Bearer
m

the time

are

to go

Expires

To the




may

put

or

deliver the

with the Stock in cither
18—.

same

purchaser of “Puts,” “Calls,”

the same,

then it is known

stock to the
«

Ilundred Shares of the Stock of the

undersigned, at

—

per

New
—

York,

Company, at

cent, any time within the period named.

as a

^

•

case.

,

follows:

—

,

18—

per cent, any

time in

All dividends declared during

(Signed)
.

or'“

Spreads” there is

no

liability to loss beyond the

amount paid in cash for tli

*

contract.

STOCK SPECULATION.
*-•—

41

*
■

-■

—V-

>

-S

INTEREST COST OF CARRYING STOCKS FOR ONE DAY.
carrying 100 shares of stock one day, when purchased at any price from 20 to 110,
interest being charged at 7 per cent per annum on the cost i rice of the stock and on the broker’s commission of
one-eighth of one
per cent ($12 50) for purchasing.
’
The table below shows the interest cost of

'

<D

CD

00

•

ci <D

A3.%
O
C

1*

Cost, with Interest

purchas’g

for

commis’n

one

tn

1£

day.

added.

v

c3 a>

A3.cd
P*

0
m

Cost,with Interest

purchas’g
commis’n

added.

for

one

day.

&

.

0

■3-g

OJ

Cost,with Interest

purchas’g

for

commis’n

CD

£ C

day.

added.

.

a o

one

Cost,with Interest
purchas’g for one
commis’n
added.

Ph

0

day.

4>

Cost.with Interest

.

a 0

C3 O

purchas’g

CD

O

for

commis’n

;

addedv

(U

CD

one

day.

.

£

(

Cost, with Interest1
purchas’g for one
commis’n
added.

day.

1

20

so%
SOM

20%
20%
20%
so%
20%
21

21%

21%
21%
2J%
21%
21%
21%

22"

22%
22%
22%
22%

22%
22%
22%

23"

23%
23%
23%
23%

23%
23%
23%

$2,012 50
2,025 00
2,037 50
2,050 00
2,062 50
2j075 00
2,087 50
2,100 00
2,112 50
2,125 00
2,137 50
2,150 00
2,162 50
2,175 00
2,187 50
2,200 00
2,212 50

00

2'275

*48124j

00

2,287 50

2'300

00

<312

50
00

£325
2'.337

50

2,350 00
2,362 50
2,375 00
2,387 50
2,400 00

2'412

50

24%

2^425
2^437

00
50
00

24%
24%
24%
24%

2^450

2'462

2<75

50

*48367
*48610
*48853
•49096
•49339
•49582
*49825
•50069
*50312
*50555
•50798
•51041
•51284
•51527
•51771
*52014
*52257
•52500
*52743
•52986
•53229
•53172
•53715
•53958
•54201
*54445
•5468s
•54931
*55174
*55417
•55660
*55903
•56146
•56389
•56632
•56875
•57118
*57361
•57604
*57847
•58090
•58333
*58576

00

•58819

50

•59063
•59306
•59549
•59792
•60035
*60278
•60521
•60764
•61007
•61250
•61493

2,487 50
2,500 00

25"

2^512

25%
25%
25%
25%
25%

2,525 OO
2,537 50
2^550 00
2^562 50
<575 00
<587 50

50

25%
25%
26"
26%
26%
26%
26%
26%
26%
26%
27"
27%
27%
27%
27%
27%
27%

2 787 50

27%

2,800 00

23

2,812
2,825
2; 837
2,850

28%
28%
28%
28%
28%
28%
28%
29

29%
29%

29%
29%
29%
29%
29%
30

30%
30%
30%
30%
30%
30%
30%

31'

31%
31%
81%
31%
31%
31%

31%
32

32%

32%
32%
32%
32%
32%

32%
3-3

33%

33%
33%
33%
33%
3:3%
33%

34^

34%
34*

34%
34%
34%
34%

34%

35

.35%

2'600 00
2; 612 50

<625 00
2j637 50
2j650 00
2,662 50
2,675 00
2; 687 5(
2;700 CO
2j712 50
2/725 00

2]737

50
2,750 00
<762 51
<775 00

2*862

50
00
50
00
50

2,875 00
2,887 50
2,903 00
2,912 50

2*925

00

2,937
2/350
2,962
2,975
2,987
3,000
3,012
3,025
3,037

50
0(
50

3,'050

3,062
3,075
3,087
3,100
3,112
3,125
3,137
3,150
3,162

00

50
00

00

50
00
50
00
50
00
50
00
50
00
50
00
50
00
50
00

3,175
3,187
3,200
8,212
3,225
3,237
3,250
3,262 50
3,275 00
3,287 50

3.300 00

3,312
3,325
3,337
3,350
3,362
3,375
8,387
3,400
3,412
3,425
3,437
3,450
3,462
3,475
3,487
3,500

*41319

50

2,237 50
2,250 00
2,2Q2 50

24

24%
24%

*40590
*40833
*41076
*41562
*41805
•42048
*42292
•42535
*42778
•43021
*43264
•43507
*43750
*43993
•44236
•44479
*44722
*44965
*45208
•45451
•45694
*45937
*46180
*46423
•46666
*46909
*47152
•47395
•47638
*478 si I

2 225 OO

•61736
•61979
•62222
•62465
•62708
*62951

•63194
*63437
•63680
•63923

•64166
*64410
•64653
•64896

50
00
50
00
50
00
50
00
60
00
50
00
50
00
50
00

•66840
•67083
•67326
*67569
•67812
•68055

8,512 50
3,525 00

•68299
•68542




35% $3,537 50
35%
3,550 00
3.562 50
35%
35%
3,575 00
35%
3,587 50
35%
3,600 Oil
36
3,612 50
3*625 00
36%
36%
3,637 50
36%
3,650 00
36%
3^662 50

-39132
*39375
*39618
*39861
*40104
*40347

•65139
•65382
•65625
•65868
*66111
•66354
*66597

36%
36%

38%
37

37%
37%
37%
37%
37%
37%
37%

3,675 00

3,687 50
3,700 00
3,712 50
3^725 00

3<62 50

•73636;

53

3,775 00

3,850 00

3,875 00
3^887 50
3; 900 00

41

41%
41%41%
41%
41%
41%
41%
42

3.987 50

4,000 00
<012 50
4,025 00

00

50
00
50
00
50

•804511

4,150 00

•80694;

4,162 50
4,175 00

•809371
•83131
•81124
•81657
•8191c
•82153
•82396

4,187 50

4,200 00
50

82639
•82832
■83125
•83368
•83611
*83854
*84097
-8434?)
•84583
•84826
*85069
•85312
•85556
•85799
•86042
•86285
•86528
•86771
•87014
•87257
•87500

4,250 00
4,202 50
4,275 00
4,287 50
4,300 00
4,312 50
4,325 00
<337 50
4,350 00
4,362 50
4,375 00
4,387 50
4,4(J0 00

43
43%
43%

43%
43%

43%
43%
43%

<412 50
4,423 OO

44

4!%
44%

4,437 50
4,430 00
4,462 50
4,475 00
4,487 50
4/50 3 00
<512 50
4j525 00

44%
44%

44%
44%
44%
45

45%
45%

4*537

45%
45%
45%

•87743

4;550 OO
<562 50
4,'575 00

46%
46%
46%
46%
46%
46%

•88958

50

4,600
4,612
4,625
4,637

46

*87986
*88229
•88472
•88715

50

<587

45%
45%

00
50

*89201
•89444
*89687
•89930
*90173
•90417
•90660
•90903
•91146
*91389
•91632
•91875
*92118
•92361
•92604
•92847
•93090
•93333
•93576
•93819

00
50

4.650 00

4,662 50

46%

4,675 00
4,687 60
4,700 00

47

4.712 50

47%
47%
47%
47%

4,725
4,737
4,750
4,762
4,775
4,787
4,8C0
4,812
4,825
4,837
4,850

47%
47%
47%
48

48%
48%
48%
48%
48%
48%
48%
49%
49%
49%
49%
49%
49%

49%
50

50%
50%
50%

00

50
00
50
00
50
00
50
00
50
00

•94062!
•943051
•94548
•94792
•95035
*95278
•95521
•95764
•960071

4.862 50

49
•

55%
55%
55%
55%
55%
55%
55%

<075

4^50 00
4,062 50

4*237

4,875
4,887
4,900
4,912
4,925
4,937
4,950
4,962
4,975
4,987
5,000
5,012
5,025
5,037
6,050

00
50
00

50
00
50
00
50
00
50

•96250,

00
50

00
50
00

54

54%
54%
54%
54%
54%
54%

4,087
4,100
4, il2
4; 125

50

4,212 50
4,225 00

42%
42%
42%
42%
42%
42%
42%

53%
53%
54%

•78264
•78507
•78750
•78993
•79236
*79479
•79722
*79965
•80208

4;137

53%
53%

•77778
*78021

00

3,962 50
3*975 00

4*037

53%
53%
53%

*76076
•76319
*76742
•76805
•77048
*77292
•77535

3,925 00
3,937 50

3*950

•74132'

•75833

3/312 50

39%

•73889

*74375'
•74618
*74861
•75104
•75347
•75590

3^862 50

39

40%
40%
40%
40%
40%
40%
40%

52

72917
*73160
*73403

3.825 00
3,837 50

40

51%
51%
51%
51%
51%
51%
51%

•72673

50
3,750 00

38%
38%

39%
39%
39%
39%
39%

51

31737

38

39%

50% $5,062 50
50%
5,075 00
50%
5,087 50
50% 5,100 00

52%
52%
52%
52%
52%
52%
52%

3,787 00
3; 800 00
3,812 50

38%
38%
38%
38%
38%

•68785
•69028
•69271
*69514
*69757
•70000
*70243
*70486
*70729
*70972
*71215
*71458
*71701
*71944
•72187
*72430

•

*96493;
•96736|
*969791
•97222;
•97465,

55

56

56%
56%
56%
56%
56%
56%

56%
57

57%
57%
57%
57%
57%
57%
57%

5,200
5,212
5,225
5,237
5,250
5,262
5,275
5,287
5,300
5,312
5,325
5,337
5,350
5,362
5,387
5,400
5,412
5,425
5,437
5,450
5,462

61

61%
61%
61%
61%
61%
61%
61%

5,975
5,987
6,000
6,012
6,025
6,037
6,050
6,062
6,075
6,087

6,100
6,112
6,125

50
00
50
00
50

00
50
00
50
00
50
OO
50
00
50
00
50
00
50
00
50
00
50
00

6.137 50

00
50
00
50
00
50
00

62%
62%
62%
62%
62%
62%

6,150
6,102
6,175
6,187
6,200
6,212
6,225
6,237
6,250
6,262
6,275
6,287

62%

6,300 00

63

6,312
6,325
6,337
6,350
6,362
6,375
6,387
6,400
6,412
6,425
6,437

62

63%
63%
63%
63%
63%
63%
63%
64

64%
64%

64%
64%
64%
64%
64%
65

65%
65%

*97875!

65%

*98118
*98361

65%

6,450
6,462
6,475
6,487

50

00
50
00

50
50
00
50
00
50
00
50
00
50

00
50
00
50
00
50

6,500 00
6,512 50
6,525 00
6,537 50

6,550 00
6,562 50

67

63%
68%
68%
68%
68%
68%
68%

1-05486
1-05729
1-05972
1-06215

1-07187

1,07130

5.537 50

5,800 00

6b%

1-03055
1-03298
1 03541
1-03784
1-04027
1-01270
1-04514
1-04757
1-05000
1-0524S

106(01
1‘06944

00
50
00
50
GO
50
00
50
00
50
00
50
00
50
00
50
00
50
00
5

66%
66%
66%
66%
66%

67%

1-06458

5,550
5,562
5,575
5,587
5,600
5,612
5,625
5,637
5,650
5,662
5,675
5,687
5,700
5,712
5,725
5,737
5,750
5,762
5,775
5,787

66%

1-02812

50
00
50
00

5,487
5,500
5,512
5,525

5,837
5,850
5,802
5,875
5,887
5,900
5,912
5,925
5,937
5,950
5,962

60%
60%
60%
60%

65%

1-02569

1-01840

1-02083
1-02326

5 475 00

58%
58%
58%
58%
58%
58%

60%
60%
60%

65% $6,575 00

67%
67%
67%
67%
67%
67%

1‘01591

50
00
50
00
50
00
50

5,825 00

60

66

1-01111
1-01354

5,375 00

5,812 5o

59%
50%
59%
59%
50%
59%

•99167

00
50
00
50
00
50
00
50
00
50
00
50
00
50

58%

59%

65%

*99410
5,112 50
•99653
5,125 00
•99896
5,137 50
5,150 00 $1-00139
1-00382
5,162 50
1-00625
5,175 00
1-00868
5,187 50

58

59

•98604
•98681
•98924

,

1-07673
1-07917
1.08160
1 08403
1-08646
1 08881)
1-09132
1 09375

1-0J618
1-09861
1*10104

1-10317
1’10590
1-10833
1-11076
1-11319
1-11562
1-11806
1*12049
1-12292
1-12535
1-12778
1-13021
1-13264
1*13507
1-13750
1 13993
1*14236
1-14479
114722
1-14965
1•15208
1‘15451
1-15694
1-15937
1-16181
1-16424
1-16667
1-16910

08

1-18125
1-18368
1-18611
1-18854
1-19097
1-19340
1-19583
1-19826
1-20069
1-20312
1-20556
1-20799
1-21042
1-21285
1-21528
1*21771
1-22014
1-22257
1-22500
1-22743
1-22986
1-23229
1*23472
1-23715
1-23958
1-24201
1-24444
1-24687
1-24930
1 25173

71%
7!%
71%
7i%
7i%

w*
72%
72%
72%
73

73%
<3%

73%
‘3%
73%
73%
73%
74

74%
74^

74%
74%
74%
74%
74%
75

1-25417
1-25660
125903

1-26146
1-26389
1-26632

1-26875
1-27118
1*27361
1-27604

78

78%

78%
78%
73%
78%
78%
78%
79

00
50
00
50
00
50
00
50
00
50
00
50

1-31736
1-31919
1-32222
1-32465
1-32708

1-32951
1-33194
1-33437
1-33681
1-33924
1-34167
1-34410
1-34653

1-34896
1-35139
1-35382
1 35625
1 35868
1-36111
1-30351
1-36597
1*36840
1-37083
1-37326
1-37569
1-37813
1-33056
1-33299
1-38542

50
00
50
00
50

00

7,212
7,225
7,237
7,250
7,262
7,275
7,287
7,300
7,312
7,325

72%
72%
72%

77%

6,775
6,787
6,800
0,812
6,825
6,837
6,850
6,862
6,875
6,887
6,900
6,912

50
00
50

1-38785
1-39028

00

1-39271
1-39514
1 39757
1-40000
1-40243
1-40486
1-40729
1-40972
1-41215
1-41458
1-41701
1-41944

50

7,175 00
7,187 5'.
7,200 00

72

77

1-29305
1-29548
1-29792
1-30035
1-30278
1-39521
1-30764
1-31007
1-31250
1-31493

6.762 50

7,100
7,112
7,125
7,137
7,150
7,162

71%
71%

77%
77%
77%
77%
77%
77%

00
50
00
50
00

6,650
6,662
6,675

00
50
00
7,087 50

71

76%

6,687

6,700
6,712
6,725
6,737
6,750

1-28819
1-29062

00
50
00
50
00
50

6,987
7,000
7,012
7,0*25
7,037
7,050
7,062
7,075

70%
70%
70%
70%
70%
70%
70%

76%
76%
76%
76%
76%
76%

50

6,937 50

70

76

l-2i0'J0
1-28333
1-28576

6,950 00
6,962 50
6,975 00

69%
69%
69%
69%
69%
69%
69%

75%
75%

1-27847

50
00

6 925 00

69

75%
1-17153
75%
1-17396 .75%
1-17639
75%
1-17882
75%

6,587
6,600
6,612
6,625
6,637

-

50
00
50
00
50
0G
50
00

1-42188
1-42431
1-42674

50
00

7,337 50
7,350 (X
7,362 50
7,375 00
7,387 50
7,400 00
7,412 50
7,425 00
7,437 50
7,450 00
7,462 50
7,475 00
7,487 50
7,500 00
7,512 50
7,525 00
7,537 50
7,550 00
7,562 50
7,575 00
7,587 50

1-42917
1-43160
1-43403
1-43646
1

50
00
5C
00
50
00
50
00

8,687 50

86%

8,700
8,712
8,725
8,737
8,750
8,762
8,775
8,787
8,800
8,812
8,825
8,837
8,850

87

87%
87%
37%
87%

87%
87%

87%
88

83%
88%
88%

88%
88%

88%
88%
89

1-44861

89%
89%
89%
89%

1-45104
1*45347
1*45590
1-45833
•1-46076
1-46319
1-46562
1-46805
1-47048
1-47292

1-47535

.

7,712 50

7,725 00
7,737 50
7,750 00
7,762 50
7,775 00
7,787 50
7,800 00
7,812 50
7,825 00
7,837 50
7,850 00
7,862 50
7,875 00
7,887 50
7,900 00
7,912 50
7,925 00
7,937 50
7,950 00
7,962 50
7,975 00

1-47778
1-48021
1-48264
1-48507
1-48750
1-48993
1*49236
1-49479
1-49722
1-49965
1-50208

1-50451
1-50694
1-50937
1-51180
1-51424
1-51667
1-51910
1-52153
1-52396
1 52639

1-52882
1-53125
1-53368
1-53611
1*53854
1*54097
1*54340
1-54583
1-54826

7.987 50

79%

8,000 00

1-55969
1-55312
1-55556

80%
80%
80%
80%
80%

8,012
8,025
8,037
8,050
8,062
8,075

1-55799
1-56042
1-56285
1-56528
1-56771
1-57014

50
OO
50
00
50
00

86%

89%
89%

79%
79%
79%
79%
79%
79%
80

.

1-44132;
1-41375
1-44618

7,600 00

7,612
7,625
7,637
7,650
7,662
7,675
7,687
7,700

43889,

80% $8,087 50
80%
8,100 00
81
8,112 50
81%
8,125 00
81%
8,137 50
81%
8,150 00
81%
8,162 50
81%
8,175 00
81%
8,187 50
81%
8,200 00
82
8,212 50
82%
8,225 00
82%
8,237 50
82%
8,250 00
82%
8,262 50
82%
8,275 00
82%
8,287 50
82%
8,300 00
83
8,312 50
83%
8,325 00
83%
8,337 50
83%
8,350 00
83%
8,362 50
83%
8,375 00
83%
8,387 50
83%
8,400 00
84
8,412 50
84%
8,425 00
84%
8,437 50
84%
8,450 00
84%
8,462 50
84%
8,475 CO
84%
8,487 50
84%
8,500 00
85
8,512 50
85%
8,525 00
85%
8,537 50
85%
8,550 00
85%
8,502 50
85%
8,575 00
85%
8,587 50
85%
8,600 00
86
8,612 50
86%
8,625 00
86%
8,637 50
86%
8,650 00
86%
8,662 50
86%
8,675 00

.

89%

90

90%
90%
90%

90%
90%
90%
90%
91

91%
91%
91%
91%
9i%
91%
91%
92

92%
92%
92%
92%
92%
92%

92%
93

93%
93%
93%
93%
93%
93%
93%
94

94%
94%
94%
94%
94%
94%

94%
95

95%
95%
95%

95%
95%
95%

00
50
CO
EG
00
50
00
50

00
50
CO
50
00
8,862 50
8,875 00
8,887 50

157257

95%

1-57500
1-57743
1-57986
1-582*29

96

1-58472
1-58715
1-58958
1-59201
1'59444

1-59687
1-59930
1-60173
1*60417
1-60660
1-60903
1-61146

1-61389
1*61632
1-61875
1-62118

1-62361
1-62604

1-62847
1*63090
1*63333
1-63576
1-63819
1-64063
1-64306
1•64549
1-64792
1‘65035
165278
1*65521
1*65764
166007
1‘66250
1-66493
1-66736
1*66979
1 67222
1*67465
1-67708
1*67951
1-68194

1‘6843(
1-63681
1-68924
1 * 6916i
1-69410
1"69653
1 69896
1-70139

1-70382
170 25
1-70868
1-71111
171354
1 7159(

1-71840
1-72083
T72326
1*7256y

T72312
1-73056
1-73299
173542
1-73785

8,900
8,912
8,925
8,937
8,980
8,962

00
50
00
50
00
50

8,975
8,987
9,000
9,012
9,025
9,037
9,050
9,062
9,075
9,087
9,100
9,112
9,125

00

1 74514

50
CO
00
50
00

1-75729
1-75972

50

1-76215

00

1*76458
1 76701

50

50
00

9,150 00
9,162 50
9,175 cr
9,187 51

Ot
5(
00
50

9 250 00

9,262
9,275
9,287
9,300
9,312
9,325
9,337
9,350
9,362
9,375

1*74271
1*74757
1-75COO
1'75243
1*75186

50
00
9,137 50

9,200
9,212
9,225
9,237

1*74028

6C
00

50
00
50
OO
50
00
50
00
9,387 50

l'7b944
1-77187
1*77430
1-77673
1-77916
1-78159
1-78403
1 78646
1"(8c89
1 *• 9132
1’<90*75

1-79618
1*79861
1 80104
1*60347
1*60590
1'80633
1-810^6
1-81319
1"81562
1-81806
1-82049

50
CO

1-82292
1"82535
1-82778
1-83021
1'8o264
1 83507
1-83750

50

1S3993

9,475 00

1-84236
1-84479
1-84722
1-84965
1*85208
1-85451
1-85694
1-85937
1-86181
1-86424

9,400
9,412
9,425
9,437
9,450
9,462
9,487
9,500
9,512
9,525
9,537
9,550
9,562
9,575
9,587

00
50
00

50
00
50
00
50
06
50
00
50

96%
96%
96%
96%
96%
96%
96%
97

97%
97%
97%
97%
97%
97%
93

93%
08%
98%
98%
93%
93%
98%
99

99%
99%
99%
99%
99%
99%
99%
100

100%
100%

100%
100%
100%
100%

100%
101

101%
101%
101%
101%
101%
101%
101%
102

102%
102%
102%
102%

102%
102%
1(2%
103

103%
103%
103%

$9,600 CO

1*86910
1-87153

50

1-87396
1-87639
1*87882
1-88125
1 8S368
1-88611
1•88854
189097
1-89340
1-89583
1-89826

00

9,662 50

9,675
9,687
9,700
9,712

00
50
00
50

9,725
9,737
9,750
9,762
9,775
9,787
9,800
9,812
9,825
9,837
9,850
9,862
9,875
9,887
9,900
9,912
9,925
9,937
9,950

00
50
00
50
00
5C
00
50
00
50
00
50
00
60
00

50
00
60
00

9,962 50
9,975 00
9,987 50
10,000 00
10,012 50
10,025 00
10,037 50
10,050 00
10,062 50
10,075 00
10,087 50

10,100
10,112
10,125
10,137
10,150
10,162
10,175
10,187
10,200
10,212
10,225
10,237
10,250
10,262
10,275
10,287
10,800
10,312
10,325

50

104%
104 4,

10 437 50

104%
104%
104%
104%

10,450
10,462
10,475
10,487

104%

10,500 00
10,5)2 50
10,525 00
10,537 50
10,550 Of'
10,562 5(
10,575 0(
10,587 5t
10,6(0 C(
10,612 5'
10,625 GO
10,637 50
10,650 OO
10,662 50
10,675 00
10,687 50
10,700 00
10,712 50
10,725 00
10,737 50
10,750 00
10,762 50
10,775 00
10,787 56

100%
103%
103%
104

,

105

105%
105%
105%

105%
105%
105%

105%
1(;6

106%
106%
106%

106%
106%
106%
106%
107

-

107%
107%

107%
107%
107%
107%
107%

00
50
OO
50

10 800 CO

108

10,812 50

108%
108%
108%
108%
108%

10.825 00

1C8%

108%

109

109%
109%
109%

109%
109%

109%

09%
110
110%

110%
110%
110%
110%
110%
110%

10,837 50
10,850 00
10,862 50
10,875 00

10,887 50
10,900 00
10,912 50
10,925 00

10,937 50
10,950 00
10,962 50
10,975 00

10,987
11,000
11,012
11,025
11,037
11,050
11,062
11,075

1-96146

00
50
00

00
50
00
50
00
50
00
50
00
50
00
50
00
50
00
60
00

50
00
50
00
50
00
50

00
11,087 50
11,400 00

1-90069
1-90313
1*90556
1-90799
1-91043
1-91285
1"91528
1-91771
1-92014
1-92257
1*92500
1'92743
1-92986
1-93229
1-93473
193715
1"93958
1*94201
1"94444
1-94687
1 94931
T95174
1-95417
1-95660
1 95903

1-96389
1*96632
1-96875
197118
1-97861
1-97604
1-97847
1-93090
1-98333
1-98576
1-98819
1-99062
1-99305
1-19548
199792
2-00085
2 00278
2-00521
2-00764
2-01007
2-01250
2-01493

00
50
00
50
00
50

10,337
10,350
10,362
10,375
10,387
10,400
10,412
10,425

10 %

1-86667

50
0C

9,612
9,625
9,637
9,650

✓

2-01786
2-01979
2 02222
2-02465
2-02708
2-02951
2-03194
2-03437
2-03681
2-03924

2-04)67
2-04410
2-04663
2 04896
2-05139
2-05382
2-05625
2-05868

2G6111
2 06354
2-06597
2*06340
2 07083
2 07326
2 07569
2 07812
2-08056
2-08299
2 08542
2 08785
2-09028
2-09271
2-09514
2'09757
210000
2-10243
2-10486
2"107*9
210972
2-11215
2-11458

211701
211944
2-12187
2-12430
212673

2-12917
2-13160
2-18408
2-1364b
2-13889
2-14132
2-14375
2-14618
2-14861
215104
2-15347
2'15590
215833

UNITED

STATES

PRICES FROM

TO

1800

The debt of the United States Government
prior to
the

war

hardly

of the rebellion
was,

more

than nominal.

A government debt

UNITED STATES DEBT

any

direct

outstanding was
and from that point it
steadily rose
bonds and Treasury notes for war
purposes, until it
reached $2,773,236,173 on the 30th of
June, 1866, which
the maximum amount at the close of
any fiscal year.
Prom thence there was a
steady decline in the net

outstanding in every year, although
in the fiscal year 1873-4, the serious financial crisis
which began in September, 1873, and the
subsequent

legal-tender

from circulation

re¬

years before, made the decrease
On the first of January, 1878, the

total net debt of all classes (not
including the Pacific Rail¬
road bonds) was $2,045,955,442, as
appears by the de¬
tailed statement in the opposite column.
The

following is

of outstanding principal
of the public debt of the United States on the
1st of
January of each year from 1791 to 1843, inclusive, and
on the 1st of
July, at the close of each fiscal year, from

1844 to

Act.

5s of 1858
6s of 1881

g

June 14, ’58

1874

LPeb.

Interest
d
Periods. N

6s of 1861
6s of 18,81
new.

Bonds

a statement

1877 inclusive.

In the year 1870 and subse-

Outstanding.

35 Registered.
J.

8, ’61 1880 J.
March 2, ’61 1-81 J.
July & A.,’61 1881 J.
Marcli 3, ’63 1881 J.
March 3, ’64 1904 M.
March 3, ’65 1885 J.
Marc h 3, ’65 1887 J.

6s, Oregon War
5s, 10-40’s
6s, 5-2i’s of 1865,
6s, 5-20s of 1867
6s, 5-20S of 1863

53

& J
& J.
& J.
& J.
& J.
& S.*
& J.
& J.
& J.

a

Coupon.

$260,000

b

13,820,000

c

$

.

4,595.000
945,000

a
d
d
d
d
d
d

126,285,100

63,036,250
21,080,600
52,013,550

53.919,400

142,552,750
47,046,950

69.856.400

98,587,400
15,750.500
221,233,300
118,474,200
61,044,400

212,029,' OJ
21,714,800
287.202,050
81,5 5,80J
13.855,600

Aggregate of debt bearing interest in coin
$898,979,000
Coupons of $50 unci $100 bonds are paid annually in March.

$827,854,850

o’ ’65 1883 J.
Funded Loan, 1881 July 14, ’70 1881
Q.—F.

5s.

4>£s,
4s,

.

do.
do.

March

18«d

July 14, ’7b 1891

1907'July 14, ’70

19,7

Q.—M.
Q.-J.

,

.

*

The

sizes or

.

.

denominations of each issue of

bonds are as follows: (a)
Coupon
$1,000, registered $5,0)0. (b) coupon $1,000, registered
(c) $50, $100 and $500. (d) coupon, $50. $100, $500 and $1,000, $5,000, $10,000,
$1,000, registered, same
and also $5,000 and

$10,000.

On the above issues of bonds there is a total
of $5,053,626 of interest over-due
and not yet called for. The total current
accrued interest to date la
$31,446,290.
Debt Hearing Interest In Lawlul

Money.

notes which had been withdrawn

some

only $4,730,472.

Auth’rizing

Character of Issue.

was

debt

STATEMENT, DEC. 31, 1877.

Debt bearing Interest in Coin.

was un¬

In 1860
only $'64,842,287,
with the issue of

the amount of debt

issue of

1877, INCLUSIVE.

comparatively speaking,

popular, and the people were unaccustomed to
taxation except for State and local
purposes.

amount of the

SECURITIES,

Principal. Interest

I

38, Navy pension, Act July 23,’68, Int. appl’donly to pens’ns
$14,000,000 $210,00cr
Oebt

Wlilcli Interest Has Ceased Since
Maturity.
debt yet
outstanding, which has never
been presented for payment, of
$21,512,210 principal and $712,920 interests Of
this amount, $20,745,300 is on the “called”
five-twenties.
There is

on
a

total amount of over-due

Debt

Bearing

no

luterest.

Authorizing

Character of Issue.
Old demand notes

Acts.

1861-2

..

Legal-tender notes...
Certificates of deposit

1862-3

1662-3-4
June 8, 1872
March o, 1863

Fractional currency...

Coin certificates

Aggregate of debt bearing no interest
Unclaimed interest

Total.

$63,532
349.913.77H
32,8:0.000'

17,764,108:
33,424,900
$434,026,317
7.447

Recapitulation.
Amount

Outstanding.
Debt

the 30th of June in each year.
been adopted as showing most
on

This method
clearly the actual incre
or decrease in the
public debt from year to year, and will
generally be considered the most satisfactory. Bonds

issued to the Pacific Railroads

not

are

included in the

statement:

1797....

1800
1801
1802

$'75,463,170
,77,227,924
80,352,634
78,407,404
80,747,587
83,762,172
82,064.479

79,228,529
78,408,369
82.976,294
83,038,050
80,712,632
77,054,686
88,427,120
82,312.150

1806

57,023.192
53,173,217
43,005 587
45,209,737
55,962,827

1

|

3811.

75,723,270
69,218,390
65,196,317

81,4S7,846
99,8 3,060
127,334.933

1817

123,491,965

1819...

103,466,633
95,029,648

|

1815....




Year.
1820
1821
1822
1823
1824
1825
1826
1827

1828
1829
1830
1831
1832
1833
1831
1835
1836
1837
1838
1839
1840
1841
1842
1813
1844
1815
1846
1847

1848

Amount. 1 Year.

$9’,015,566 |
’

89,987,427

Amount.

1849
1850
1851
1852
1853

1857
1858
1859

$36,499,917

14,000,000
21,512,240

712,920

1861
1862

as

32,830,001'
17,764,108

83,424,900

$434,026,317
7,447

including

$2,196,372,407
interest due

2,233,802,692
139,518,105

Drovided bvlaw

Debt, less
Debt, less

I860
1867

1872
1873
1874

amount in the
amount in the

$187,817,250
2,045,9'5,412
2,016,927,065

Treasury, Jan. 1, 1878.
Treasuryj Dec. 1* 1877

Decrease of debt during the past month
Decrease of debt since dune 30,1877

1868

.

18,550,202 1875....'
38,826,534 1 1876....'
47,044,862 1877...j.

.

2,147,818,713

5,498,844

10,000,000
32,830,000

Total

186*

$37,430,285

'

1863

1864

210,0)0

$350,007,308

Currencv

1871

15^925^303

$1,726,833,850

_

|

20,601 22n

701,266,650

200.000,000
7 4,90, ',000

Currency held for the redemption of fractional cur
Special deposit held for redemption of certificate rency
is of
deposit

1869
1870

32,742,922
23,461,652

interest

Coin

1860

4,769,082
37,513

336,957
3,308.124
10,434,221
3,573 343
5.250,875
13,594,480

'....

Total
Total debt, principal and
interest, to date,
not presented for
payment
Amount jn the Treasury—

1856

58,421,413
48,565,406
39,123,191
24,322,235
7.001,098

$748,667,-200
„

Total debt bearing interest in coin
Debt bearing Interest in Lawful Money—
Navy pension fund at 3 per cent
Debt "on which Int. iias ceased since Maturity.
Debt bearing no Interest—
Old demand and legal tender notes
Certificates of deposit....
Fractional currency
Certificates of gold deposited.
no

Interest.

Coin—

Unclaimed interest. .7.

i

73,987,357
67,475,043

in

Bonds at 4 per cent

Total debt bearino1

93,546,676
90,875,877
90,269,777
83.788,432 | 1854
81,054,059 1855

|

1792.

Amount.

|

Year.

Interest
Bonds at 6 per cent
Bonds at 5 per cent
Bonds at 4y£ per cent
bearing

$71,623
14,202,780

Bonds Issued to tlie Pacific Railroad
Companies.
The Pacific Railroad bonds are not included in
the
regular debt statement; "
they are all issued under the acts of July 1. 1862, and
July 2,
registered bonds in the denominations-of $1,000, $5,000 and 1864; they are
$10,000, bear H
per cent currency, payable January 1 and
date. The total outstanding December July 1, and mature thirty years from
31, 1877/ was $01.623,51*2, on which
interest had been paid by the United
States, amounting to $85,957,629, atd of
this the companies had

repaid $9,006,189 by transportation.

<-

UNITED

STATES

FUNDING SIX PER CENTS.

rapidly.

The acts of July 14,*1870, aud January 20, 1871,
Acts,” with the amendments thereto,
$500,000,000 in five per cent bonds,
$300,000,000 in
per cent bonds, and $700,000,000 in 4 per cent
known

43

principal should be paid. At that tim9 gold and silver only
were
legal tenders.
The act of March 3, 1883, under which the sixes of 1881, third
series, ware issued, was the first loan act passed after United
States notes had been made a legal tender, and this declares that
the bonds and interest should be payable in coin.
The ten forty bonds ware issued under the act of March 3, 1864,
which was supplementary to the act of Mirch 3, 1863, and which
declares that the bonds aud interest should be paid in coin.
The five-twenties now outstanding ware all issued under the
act of March 3, 1835, which provides that “the
principal or
interest, or both, may be made payable in coin or ia other lawful
money; Provided, That the rate of interest on any such bonds or
treasury notes, when payable in coin, shall not exceed six per
centum per annum; and when not payable in coin shall not
exceed seven and three-tenths per centum per annum; and the
rate and character of interest shall be
expressed in all such bonds
or
treasury notes.” These bonds do not express the character of
the interest, but are made payable, both principal and interest,
in dollars, without specifying coin or currency.
The fives or 1881, four-and-a halfs of 189 L and fours of 1907
are all issued under the acts of July 14, 1870, and Jan. 20,
1871,
which provide that they shall be “redeemable in coin of the
(then) present standard value,” and that the interest shall be pay¬
able “ in such coin,” and thess conditions are expressed on the

The process of funding 6 per cent bonds into others carrying a
lower rate ot interest, after it had once fairly commenced, went
on

SECURITIES.

the “Funding
authorized the issue of
as

bonds.

The negotiation of the 5 per cent

bonds was commenced in
March, 1871, after which it was placed in the hands of a Syndi¬
cate of American and foreign bankers in
August, 1871, and finally
completed in February, 1876.
The negotiation of the 4£ per cent bonds of 1891 was com¬
menced in September, 187G, through a similar Syndicate, and was
continued until June, 1877, when $200,000,000 having been sold,
the remaining $100,000,000 were withdrawn from the market by
Secretary Sherman.
The 4 per cent bonds remained open for popular subscription
at par in gold, for thirty days, from June 16 to
July 16, 1877,
during which time subscriptions were received to the amount of
$65,496,550, and a further subscription by the Syndicate for
$10,000,000 was afterward announced. In January, 1878, Secre¬
tary Sherman terminated his contract with the Syndicate, and
offered the loan for popular subscription.

TERMS OF PAYMENT.
face of the bonds.
The terms of payment of the interest and principal of
LEGAL-TENDER AND PUBLIC CREDIT ACTS.
govern¬
ment securities are of much importance, and the substance of the ;
The legal-tender acrs under which greenbacks were issued—
laws of Congress bearing upon the. subject, we have condensed act of February, 25, 1882, the act of
July 11, 1862, and the act of
from the usetul little pamphlet issued
March 3, 1863—all declare that the notes should be a legal-tender
by Messrs. Fisk & Hatch.
The sixes of 1881, first series, become due absolutely
on the for public and private debts, except for the payment of duties
31st December, 1880, but the act of February 8,1861, says nothing and interest on United States bonds and notes.
of the kind of money in which the interest or principal shall be
The public credit act supplements all the various loau acts
paid.
The sixes of 1881, second series, are issued under the above referred to, and determines the question of payment in
acts of July 17, 1861, and August 5, 1861, and
payable at the coin, as to all the bonds and obligations issued under acts in which

pleasure of the. government after June 30, 1881, and no specifica-j no express provisions in this respect had been made.
as to the kind of money in which the interest or
approved March 18, 1869.

It

tion is made

January. February

March.

April.

May.

June.

July.

August.

Septem’r

SECURITIES.

Low.High.

Low. High.

106#-107

106

Low.High.

Low. High. Low. High. Low. High. Low. High.

•

93

U. S. 6’h of 3881, cp.
U. S. 5’e of 1865, cp.
U. S. 5’s of 1871, cp.
U. S. 5's of 1874, cp.

-100

94

-ICO

93#- 93#

95
ni
91
89

-

95# 95 - 95
94
84#- 94
nA

-

90% - 92

.

86

91
92

U. S. 6’s of 1868, cp..
TJ. S. 6’a of 1881, cp
U. S. 5’s of 1865, cp..
U. S. 5’s of 1871, cp..
TJ. S. 5’s of 1874, cp..
U. S. 6’e certificates.
U.S. 73-10notes.,,.

-

97

87#- 91
85
93# 85-90

85

-

90

90

nA

-

P3

-

91

-

92

91
85
75

-

1

-

11861.

95

88

91% i 85

-

-

85

-

90

83

84 %- 89

j

-

85

j 87

-

90

85#- 90#

87#- 90

88

87#- 89#

89#- 91,#

-

-

| 78

j Low.High

Low. High.

8fi

-

86

90

90

87#
79#- 81
79#- 81

80
89# 75%- 79

-

-

01#87#81#81,%-

96-96
93
95

98
-103

92-93
89 - 95

-

90

92-92

95%
89
85
86

93#- 95% 89
93#
«i#- 89
86#- 88#
82#- 86
82%- 83

97

-

98

-

83-86

79

-

83

1862.
-

92

94
97
92#- 95
97#-102 103 #-107#
92#- 94# 92#- 98
97%-] 05# 105#-107#
92
93
99 I
90#- 93
92# 93#- 97
88
88
93 - 96
96#- 97 !
85
88
86#- 90 j 89#- 96
95#- 97#i
97-97
96#- 90 j 99 -100 % j 100%-rIGO# I
99#-lQ0
99# -101# 102#-l 05% 1104#-106% |
-

87#- 91% 88#- 93
85
86# 86%- 90
7!)
80
79#- 80
78
80s-, 78#- 85
-

-

-

-

97#- 93

98

-

-

-’99%

•

■

■

102#-104# 102#-

S. 6’s of 1881, cp.. 104

96 #-100

9fi#-l03
90

-

92

103
96#- 99# 96#-100
99 -102# 102

| 98#-101%
94

-

94

8,:#- 86% i 88%- 90

94
89
88

- 95
-91

10G

-107

102 -102
-103% 101#—102
-104% 103 -104# 102#-104%

96

-

67

97

-

92#- 93

95 - 95
91 %- 92%

97
..

94
91#- 93
91#- 92%
98#- 99% 97#- 99,# 94%- 97%
102%-10i# 103 -103 103#-105,# !0C#-104#
- 91,#
98#- 99%

-

-

91

-

1363.!
107'#~108% 107#-110 jl 04 - 107
104 -106
106 -1 ns#! 104#- 105

|104%-

[105 - 105
9
98
98,% -100 j 97 - 100 | 90#- ■101
101 -102
100#-101# 98#- 101 #H00 95
99# | 97#- 99# 99#op# 97
106 -107# 103 #-107# j 105 - 107 |105%106%-109 107 -107# 105#- 107# 105#-

-

-

106%-110% 108,%-110# 108#-110
124

-125

117

_

-127

98 -100#
96#-100# ICO -100
-101% 101 #-102# 98 -102# 10!%-102#
93 -98#
99,':) 93%- 99
99# 99% 9!)
106#-107% 105#-103% 103%-107% 106 #-106%
105 -106# 106 -108
106 -107% 10G#-107#
97
101

-

97

-

1864.
-107

106%-111#
5’20’s, coupon.. |101#-104#!103%-107

S. 10-40’s, coupon
S. 7 3-10’s, A. & O.
S. 1 year ctfs

j 86

-

TJ. S. 6’s of 1881, cp.. 91,%- 99
93%-102# 100#- 10r>#!l04%-106#
TJ. S. 5’s of 1865, cp..
96
99
| 99#- 99#
TJ. S. 5’s of 1874, cp.. 86 - 90
85#- 97#j 94 - 98# 95#- 98#
U, S. 6’s gold certfs. 94%- 97#
93#- 99 j 98#- ■100# 99#- 102
U. S. 6’s cur. ctfs
••••98 - 99#
1 96%- 100#
U.S. 7 3-10’s, A. &0. 100 -103
101%-105# 101%- 107# 104#- 106
U.S. 7 3-10’s, F. & A. 102#-103
107
104 - •107

S.

Low. High

-107# 106#-107# 108 -108#: 108%-!09 V. {10S -108 103 -109 169 -109# 108 -103# 10?%-107%
98 -100
9P%-100
1C2 -102#
102 -102
99%-lGO# 100#-102#!102 -102#;102%-103
100%-100% 101 -102
99#-100# 100.#-100# 100%-101% 103 -103#;103 -103%i 103%-104# 101%-102 102 -103 102%-103% 102#-103

U. S. 6’s of 1868, cp.

U.
TJ.
U.
TJ.
TJ.

Low.High

December

I

I860.

U. S. 6’s of 1868, cp.
U. S. 5’s of 1865, cp.
U. S. 5’s of 1874, cp.

.

| October. JnOVE3IBEI

was

'

111 #-113# 113
107 -110# 105

-US
-114

113

•

Ill

■115

105#- •107% 101

-114
102 -106#il04#-l
-100%jl01#-109 106# -113

103 -103;
103 -110 1102#-107#! 107 -112
109# -112
108#-U5
97%- 98# 1 97#- 99# 99#- 99# 97%- 99# os# -9a# 92%- 98#f 93 - 96# | 93%

106#-107#!107%-111

111

-113

106#-109 104#-106% 106#-113
-111?-,' 106-108# K0#-107#
99
92#- 96# | 94
99#
101 -108% 107 -124
-112
95
94#- 95# j 95 - 98

105
95
107
93

-

-

-

112%-U8
1C6#-110
98#-102#
llfi#-122%
96
97%
-

1

TJ. S. 6’s of 1881,
cp.. 109#-l 12#1109#- •Ill#
U. S. 5-20’s, coupon.-jl00#-110
!103%- 112
U. S. 5-20’s, new, cp. 106#-110 i 10B - 111
TJ. S, 10-40’s, coupon 100#-102% 100#102#
U. S., 7 3-10 notes... 114 -119
115 - 116#
U. S. 1 year certifies 96#- 98

97#- 98#

U. S. 6’s of 1881, cp..
103%-I04#il03%-1»4#
U. S. 5-20’s of 1862... 102%-105
102#-103#
U. S. 5-20’s of 1864... lul#-102# 102
-103#
U. 8. 5-20’s of 1865... 101#-102# 101#-103#
U. S. 10-4CT8
92#- 93% 93#- 94%
U. S. 7 3-10 notes, let 98#- 99# 99#99%
“

“

4i

“

2d.
3d.

97% 97% -

104%- 11!%
100%- 110,#
89#- 102%
114
114#
-

96#- 98#

-110?,' 10S#- 410%
105#- -109# 102#- 107
105#- 109# 102#- -106
91#- 97# 94# 97#
99#- 99#
98#- 99# 99 •99#
-

-

-

•

•

• -107# 1107# ■168?o'
105# -106#: 105#- ICS?,'
-104
103#- •105?£ 104 -105 [105 - 106?^
93 • 98% 93#- 94#
94%- 97% 96#- 98
99#- 99# 99#- •100
96# 99%! 98 - 99%

108%-110#! 106#- •108% 106
102
103

106

-104#j 103#-

•

■

-

■

-

99#- 99# 97#- 09# 97# -98% 98#- 89
-

106?^- -108#! 105#- 106% 106#- •108#
100 ^ 105%
101%- 105# 99,#- 103
101
-103 ! 93#- •101# 99 - 102%
92#- 94# J 89 %- 92% 90,#- 95
97
-99# 95%- 99
96#- 987%
97%- 99% 96.#- 97# 9”i#- 93%
•

-

•

99#-ieo

•

■

-

-

•

•

•

1866.
tot# 405# 104#- 408# 107 -109# 109#-110# 106#-'110 109#-U3# 110%- 112 111#- 413# 112 ■ 414% 109%- -113#
103
•104# 103#- •106.% 100%-102# 101#-104,% j 104 # 108# 108#-113%| 107#- 112# 111#- -115# 107#- 410# 105%- -108#
-

102%- •104# 103%- 405# 101 #-102% 102 -103,% |103.% 106
105%- ■107%
105#-U0 |198 - 109#! 109%- -111
103
101 #--102% 102 %-l 03# j 103# 106# 106 -109% i 107%- 109%: 109 ■ -111%; 105%- 109,#
106
104# 104
90
99 -103# I 97#- 100# i 99#- -100% i 99#- 109%
92% 91V- 96# 94
96# 95%- 87 #i 97% 99
102
99#- 100# 101)
100#-102%! 102 -103%:!03 • 104# 104 -107% 405#- 107#! 106 ■ -107 il0"» - ■108%
99# 98#- 99# 99#- 100# 99#- 102 101 -102 % 1102 -103%! 03
104# 104 -106% ;10538- 10f>#i 105%- 106#! 104 - •106%
99 - 99# 99 - 100# 99#- 102
99
100%-102%I102 -103# 403 -104# i 104 -106%: 105 - 106,# 1105# •106# 104 • ■107#
I
!

r. S. 6’8 Of 1881, cp.. 106# 108#
U. S. 5-20’s of ’62, cp.jioe# 108
U. S. 5-20’s, '64, cp..jl05% 106
U.S. 5-208,’65,c.M&N 105
106%
U.S. 5-208,’65,cp.J&J 103#-104%
U.S. 5-20’8 of ’67 cp.

XJ. S. 10*40’a cp......

1865.
103#- llD: 105

-

-

-

-

-

104# -107
1'04%- -107#
99 ■ -100%

104

•

-If 5%

103#- -105#
104 - -105%

11867.

107#- 110# 108#- ■110#

410# 110#' -112 iin#-ii3#;i09 -110% 110#-:112%jll0%- 412#!U0#- 112# 112 - 413# til# -112%
107%- 111% 108%- 111
110%- 111# 107
-109% 1109%-110,#! 110%-! 12# 111%-1M#;110#- 115,#: 111#- ■113#! 107#- •108% 107 -108%
105%- 108# 107#- 108
107# ■109# ’05% 106
105%-107% 107#'-109# 109
U0%}108#- ■110% jios#- •109%! 105 - -105% 104# -106
105%- 109# 107#- 108% 107%- 109% 105%- ■108
106#-107,% 107% ■10 9# 109#-1I1%!109#- lll#jl08#- ■110#; 105#- 106# jl04% -105#
104#- 106# 106#- 107# 107#- 107# 107#- 108# 108%-110# 106 V 108%; 107,%- 108# [307#- ■109 ilOfi#- 107% j 107#- -108 i 107# -108%
107
108% i 107#- 108# 107%- •109 jl08#- •108 107#- •108 jl07# -109
99
99%-101% 97#- 98# 97#- 99
99# *99#-i00# 100# 102%|102,%- 103# 99#- 99# 99%- 401% 100#- 402% 100% -104
■

•

•

-

-

1868.1
U.S.
U. S.
U. S.
U. S.
XL S.
U S.

6’0Of 1881, Cp.. 108# -112

!ll0% -112# HO# 411#|110%- 413#

5-50’s, 1862, cp. 107%- -lll%|l 10 -111%
5-20’s, 1864, cp. 105#--109%|107,#--109#
5-208, ’65, M&N! 106 •*-110%108#--110#
5-20’b, ’65, J& Jil04# -108%'jior,#--108#
5-20’s, 1867. CP.!104# -108#! 106#--108#
U S. 5-20’s, 1868, cp.!
i
-....
U. S. 10-40*8 coupon J101#-104#d04#-105#




109#- -110%
107# 108%
107#- 109
106#- 107%
106#- 107#

113

•

416

109% -112# 108
■111#
107%- 110# 10G%- 409%
■

107#- 111# 106%- 409#
106.%- 109
108#- 111#
106%- 109# 109#- 112%

100#-101# il 00#-l 03

J103

-105#

116#-l 18%■ U2%-115%; 113%“116# U3#-*ll4#!il3 116# 111,# -115#
111%-113# 112%- 114% 112%-115 ; 112# -115#i 112#- -115 105%
111 % 1108%-111# 109# -110# i 109 %- 112,# i 104%
109%-m# 110
110 -111% 110%- 112% 110 -t 12# j 109%-l 11 % i 109,# 1I2#!104% 103#
112,#-114# 108
109# i 107#-109# 1107# -109# i 107%- -111# 106# no#
■112
112% -114% 108,%- 109%! 10fi#--109# 1107%-l09#! 107 % 1107# 111#
109%-110% 108% 109% H07 -109# !108#-109# jl08%- ■112% j 107%- -111
105% -107% jl06% 108% ] 108 -109% il04#-l05#)104#- ■106% >103
106%

114%-115
111%

-

-

107%
109,#109%110
105

-

-

m
in,#

■BM

AA-

UNITED STATES SECURITIES.

1869.
/—5’sof 1PR1 —,

Corrp.

January—

6’s

/

I860.

1864.

109%
111%

111%
113*

107%
109%
137*
109%

1865—1865.

10-40,
1868. Coup.
v

1367.

new.

Opening..-

111%
:i2%

Highest.

Lowest

m

-

Closing

109

HI*

111%

112%

113%

103%
no*

10?

107%

108*
106*

107%
no*

109

108*

Opening

112*
116%
112%
116%

Highest

Lowest

Closing...

111%
114%
111%
114%

113

101%
115%
li'9%
115%

ns%
113

118%

no%

108%

116%
110%
116%

108%

115%
117%
115%
id*

Highest
Lowest

Closing

115%
116%
114%

118
120

115

113

114% 115
115%. 118
113% 111%
113% 115%

117%

112%
113%
112%

113

113

112%

H-%

Lowest

118%
115%

115
118

118
122

115%

118%

118

117*

Highest".
Closing

May—
Opening

119

123%

122%

118
122

113%
121%

..

Lowest

Closing

114

115%
119%
115%
119%

117%
113*
117*

121*

ns*

Highest

Opening

117%

113

112%

113%

105

116%
113*

108*

116%

116%

117

115%

122%

118%

120

116%

116%
120%
115%

Jane—

Opening

12?%
122%

Highest
Lowest

117%
117%

116%

121%

121*

117

121

Closing

112%
122%
121*

147%

118%

117*
116%
116%

119

120
120

117%
116%

120

119

ID*

125%

1868.

Coup,

122%
123%

120%

123%
123%
123%

122%

123%

116%

108

122

116%
122%

115%
122%

116
122

111%
107%
114*

122%
122*

123%
124%
120*
122*

124

122%

115%
122%

122*
122%
119%
121%

122%

116
116%

123%

123%

125 %

116%

122%
122%

119%
121%

122%

121%

119
119

123%
119%
119%

118%

119%
120%

119
120

120
421

119

118%

119%

119%

117

119%

117%

119*

116
116

113%
113%
110%

114

111

111%

116%
113%

no%
113%
110%

111%

118%

122%
118%

119%

119%

119%

119%
119%

Highest

119%
119%
115%

115

115

•

115%

115%

December—
109% Opening
109% HiS*host.• 4
1 7% Lmrsei
107%

112%
116%
112%
114%

120*
115%

•••*••

112%
112%

118%

112**

116

HI*

m3

117%

119*

120%
120%

112%

120%
120%

112%
112%

117

103%

108%

113%
118%

109%
109%
107%
107%

116%
116%

113%
115%
116%

117

116%
116%
113%
113%

116%
116%

113

118%

113%

110%

113

114%
110%

vlS

115%

113%
118%
115%
116*

117%

120
117

"

November—

107% Lowest
109% Closing

121%
116%

118%

118%

122%

121%
121%
116%
117%

It

114
111

..

Highest..;

108% Ope= ing

120*
113%
li9%

10-40,

*

122%

119%

Lowest

no

120%

120%
119%
119%

124%

421

Opening.,

105

116%
120%
115%
119*

120

123%

125'

123
119

108% Closing

120%

118%
123%
118%

123%
117%

October-

116*
112%

115*
119%
114%

117%

121%
123%

Closing

112%

113*
117%
113%

12**
117%

121*
125%
121%
125%

125

Lowest

116%

112*
116%

122%

124%

Highest

105* Lowest
105% Closing

April—

Opening

117%
122%
117%

123%

106% Opening
106% Highest

111

113

217**
123%
116%

September-

112%

113*
112%

Keg.'

August—

108%
1D%
103%
110%

112%
108%
112%

5’s

—fiTs (5-20 y’rs)
Coupon
1862. 1864. 1865—1865. 1867.
,

new.

Opening

•

Opening

Coup.

103* Biggest
105% Lowest
103* Closing

109

113%
108*
113%

113%

106

107%

108*

H3%
103%

/—6’h of 1831-',

July-

107%
109%

D6%
108*

February—

March-

5’s.

(5-80 y’r?) Coupon

Reg.

116%

108
103

106%

118% 118
116% 116%
113% 118
m* lift

113

107

06%
no*

106%

1870.
*’8,1881

6’s (5-20 y’rs) Coupon—
1804.
1865—new. 1%?.

Coupon 1862,

January—

Opening

Highest!

.

113%
116%

Closing

116

113%

113

115*

118%
115*
118%

...

Lowest

115%

113

.

115%
115*

113%
116%
112%

HI*
114%
111*
114%

115%

118%

...

Lowest

115%
115%

114

Closing

.

115%

...

115%
115%
113%
118%

113%
113%

114%

111%

111%
114*
111%
114*

114%
111%
114%

114%
114%
111*

109%
113%
109%

116 V.

Highest

.

114%
114%

115%
113%

...

Lowest

Closing

113%

114%

114%
112%
112%

111%

114

114%

114
114

113
113

111%
111%

'

111%

112%
112%

107%

103

110%

108%

109%

111%

Opening

113%

Highest

110%
115%
no%
115%

113%
116%

Closing

109%

109*
ID*

114 %

109%

109%
114%

113%

116

112%
112%
111%

117*

Highest

112%

117*

Lowest

Closing

111%
111%
no*
111%

111*

112

107*
113%
107%

108%
113*
108%
112%

112%

no*
111*

113%
114%
112%
113%

114%
114%
113%
114

June—

Opening

Highest

...

Lowest

Closing.

.

112%

118%

117%
118%

.....

112%
111
112

111%
111%
110%
111*

111%
110%
112

113*
114%
112%
114%

1862.

115%

112%=
112%

115%
112%

Lowest

112
112

Closing
AugustOpening
Highest

111*
111%
111% Lowest
111% Closing

112
112

108%
109%

108%
113*. 110%

110

108%
108?*
1W%
106%

111% Opening
113%' Highest
no* Lowest

113%

113

114*
113%

114%
212%

110%
111%
108%
111%

113%

112%

Opening
Highest

114%
114%

113

112

Closing

113%
113%

111%
112%

112*
112%
112%

Opening.,

213%

Lowest

113*
113%
113%

112

Closing

109%

106%

113%
108%
113%

108*
105*
108%

114%

108*
108*
107%
108%

111*
112%
111%

Lowest

111%

111%
111%
107*

113%
114%

112%

Highest

Closing....

114

108%
108%

114 %
113

113

114%

Opening

114

110%
110%

106%

110%

106%

110%

112%
110%
111%

108
109

111%

112
110
110% 110% 106
lit
112% 110% 110% 110% 107
112
111%, 111% 110
110% 110%
111% 111* 110% 110% 110% 105% 111
106% "'111%
112

112%
110*
111%

109%
109%

107%
107%

107%

107

107*

107

108% 110% 110% 110% 106% 111
108% 110% 110% 110% 107
111%
106% 109
109% 109% 106%
107% 109% 109% 109% 106* 110%
110%

Lowest

113%
113*

108

113

Closing

113%

107%

Highest

108

113%

121%

113%

107*
10S%

110

108%
108%
106%
107%

111%
111%
111%

113

114%

209

110%

110%

109

110%
108%

108*

109%

108%

108%
110%

111%
111%

109%

110%

110% 110*
110* 110%
110% 110%
110% 110%

110%
110%
110%

November—
115

*5’s, 10-40 C’ncy
Coup. 6Ts.

1868.

112

December—

114%
112%

111%
111%
107%
108%

108%

113% 110% 110%
114* 112% 111%
113% 110% 109%
114% 112% 111%

October-

May—

Opening

Opening
Highest

fi’e (5-20 yTrs) Coupon
1864. 1865.—new. 1867.

t

September-

112%
112%
108%
109%

April-

Lowest

111%

114

113%
133%
108%

113%
108%
109*

109%
no%

109%
111%
109%

112%

March—

Opening

6X 1S81

Coupon.

July—

February—
Opening
Highest

& s, 10-40 C’ncj
1868. Coup.
6’s.

107%

106%
107%

106%
107%

108

106%
107*
106%
107%

109%

109%

110%
109%

110%
109%
110%

110%

109*
111

109*
111

106% 1 1%
106% 111%
106% 111
106* 111

106%
106%
106%
106%

110%
110%

109%
110

1871.
1531

Coupon.

5 20a
1362.

5 20s
1864.

January—

Opening

IRshest...

Closing

*

...

110%
113%
110%

108*
110%
108*

113*

....

.

Lowest.

110%

5-20s 5-20s 5-20s
1865. 18 35 new 16G7.

5-2

8

1863.

10-40

113%

Highest

114%

110*

•

•

•

113

112%
110%

114*

Lc west
Cl sing

112%

108%

108%

109%
107%

107%

109%

108*

109%

108
110

107

108*

107*
108%
101%

10S%
109%
107%

110

108%

106%
109*
106%

109%

109*

110%
111%
110

111%

Opening
Highest

116%

113

Closing

114*
116%

111%
112%

114*

Lowest

112%

112%
112%
111%

112%

Opening

116%
117%

112%

Lowest

116

Closing

112%

117%

113*

MayOp jning
Highest....

•

Lowest

•

•

•

•

Closing

110

112%

109
111
109

110%

109%

109%

111%

109*

111%
109%
111%

111%
109%

109

110%

112%

111

112%

111%

111%
112%

110%
111%

111%
111%
110%
111%

117%
117%
117

117%

114

112%

112%

111%

114

114

113

112%

112%

111%

114

114

113

111%
113

111%
113

Openii^

ffigbett......
7^53




.

Lowest

•

.

5-20s 5-20* 5-20s 5-20s
1865. 1865new 1867. 1868.

115

116

113%
115%
113%

113%
114%
113%

114%

113%

113% 112%
114% 112%
113% 112%
113% 1D%

H6%

114

114

116
118

114%
114%

114%

113%
114*

113%
114%

114%

118*
119%

114*
115*
111*

116%

1D%

111*
111%
110%
111%

111%
109%
109%
108

108*

111%
113.*
111%
113%

Opening
Highest

.

.

Lowest

.

Closing

.

SeptemberOpening
Highest

113%
115%
113% Lowest
115% Closing

.

.

.

119

118

.

H8%

...... .

118%

114%

115%

115*
114%
115%

.

.

,

...

117%
118%
117%
118%

111

111

111

111%
110%
111%

111%
110%

111%
110%
111%

112

113%
112

113%

111%
113

108%
109%

115%

ill*

108

113

115%
115%

109%

116%

Opening.
Highest

.

Lowest

.

ClOSIDg

1D%
115%

115%
115%
113%
114*

115%
115%
113%
114%

116*

111%
111%

111%
111%
110%

114

114%

112%
113*
112%
113*

111%

113%
114
113

113%

113%
114

113%
114%

109%

115%
115%

Opening...'....

112%

113

110
109

114

114%

109%

115%

Closing

D9%

115%
115%

Opening

.

Highest

.

115%

Lowest

.

•

116%
117%
116%
117*

111

117%

111

111

110%

113

111%
113

111%
113%
111%
U3%

113%
114%
113%

113%

114

115%

115%

ID*

113%

114

US*

115%

110%
1 9%

110%

.

Highest. ..ii.w

115%

115%

Closing

.

118

111

MX

Lowest

.

113%

Ill

115

113%

113%

112%

111

115%

112%

113

113%

114%

113

113%
114%
113%
114%

110

114*

114%

113*
113

113%

109%

118

109%

109%

109%

}13%
111

113

116%
114

116%

114% 113* 113% 114% 111% 116%
115% 114* 114% 114* 111% 116%
114% 113* 113% 114% 111% 114%
116% 114% 114* 114* 111* 114%

115*

116

114%
114%

114%
114%

115

112

115
112

113%

113*

111%

114%

111%
108%

114%

102%

111

113%
114%

113%

111%

113%

112%

114%

115

115

110

111%
111%

113
113

113*

113%

113*
114%

109%

111%
113%

»3%

114%
115%
114%
115%

110* 111*
111

6s

C’ncy

113%
112%

112

113*

114

December-

111%

10-40

Coup.

113

November—

June—

y

.

5 20s
186 L

October-

Highest

.i..

Opening
Highest

1862.

August110%
112%

April—

x-<e*vosit...

110>r
111%

5-20s

Coup.

111% Closing

March—
„

6s, 1881
J My—

February—
Opening

68

Coup. C’ncj

111%
110%
110%

115

113%
115

115*

114*
116

114*
116

109%

109%
109%
109%
109%
109%

110%

111%

113%
115%
113%
115%

UNITED STATES SECURITIES.
«"«=• -■

■

—

45

■

1872.
-Coupon Bonds.-

-Coupon Bonds. ~

58’81 fund. 6s ’81 6s ’81 5-23s 5-20s 5-23s 5-20s 5-20s 5-20s 10-40s 10-40s 6a
coup. reg. coup. 1852. 1834. 1865. 18G5n. 1867. 1868. reg. coup. cur.

January—
Open’g 110 114% 115 110% 110% 112% 111% 113
High’st 110% 114% 115% 110% 110% 112% 111% 113

113%
113%
Lowest 109% 114% 114% 109% 109% 110% 109% 111% 111%
Closing 110 114% 115% 110% 110% 111% 110% 112% 112%

FebruaryOpen’g 108% 114% 115% 110% 110% 111% 110% 112

103
110%
109
109%

110
110%
109%
110%

115%
115%
114%

107
107%
106%
107

110%
110%
109%
110%

H4%
114%
113%
113%

114%

5s ’81 fund. 6s ’81 6s ’81 5-20s 5-20s 5-20s 5-20s 5-20s 5-20s 10-403 10-403
coup. reg. coup. 1862. 18G4. 1865. 1865n. 1867. 1868. reg. coup.

July—
Open’g 113% 115% 117% 114% 114% 115% 113% 115%

115
111% 112% 114%
118% 115% 115% 116% 115
116
116
111% 113% 115
Lowest 113% 115% 117
111% 114% 115% 113% 115% 114% 111% 112% 114%
116
Closing 113% 116
118% 115% 115% 116% 115
116
111% 113% 114%

High’st 113% 116

August—

112%
High’st 108% 114% 115% 111% 111% 111% 110% 112 112%
Lowest 107% 114
114% 110% 110
110% 110
111% 111%
Closing 108% 114
115% 111% 111% 111% 110% 111% 112

6s
cur.

,

Open’g 112% 116% 118% 116% 116% 116% 115% 116% 115% 109% 113% 114%
High’st 112% 116% 118% 116% 116% 116% 115% 116% 115% 109% 113% 114%
Lowest 112% 114
116% 114% 114
114% 113% 113% 113% 108% 111% 112*
Closing 112% 114% 116% 114% 114
114% 113% 113% 113% 108% 112% 112%

March—

September—

Open’g 108% 114% 115% 111% 111

112% 110% 111% 112
107% 107% 114
High’st 110
114% 115% 112% 112% 112% 111% 113
Lowest 108% 114% 115% 111
111
112% 110% 111% 112
107% 107% 114
Closing 110 114% 115% 112 112% 112% 111% 112% 113% 103
108% 115%

Open’g 111% 114% 116% 114

134% 113% 113%
High’st 111% 114% 116% 114% 114% 114% 113%
Lowest 109% 113% 114% 113
113% 113% 112
Closing 110% 114% 115% 114% 114% 114% 113%

April—

October—

Open’g 109% 115

115% 112% 112% 113

111% 113
High’st 112% 117
118% 115% 115% 116% 114% 115%
Lowest 109% 114% 115% 112% 112% 112% 111% 112%
118% 115% 115% 116% 114% 115%
Closing 112% 117

113%
116
113
115%

108
110%
108
110%

108%
110%
108%
110%

115%
116%
115%
116%

114
108% 108% 112%
114% 114
109
108% 112%
112% 112% 107% 107% 111%
113% 113% 108
108
112%

114

>

Open’g 111
114% 115% 115% 114% 115% 113% 113% 114
High’st 111% 115% 117
116% 116
116% 115
115% 115

108%
108%
Lowest 111
114% 115% 115% 114% 115%'113% 113% 114
107%
Closing 111% 115
116% 115% 115% 116% 114% 114% 114% 108%

May—

108%
108%
107%
108%

111%
114
111
114

November—

Open’g 111% 116% 118

112% 112% 112% 114% 115% 115% 110% 110% 116%

High’st 113

117% 119% 114 ' 113% 115
116% 117% 117% 111% 112% 117%
111% 116% 118
112% 112% 112% 114% 115% 115% 110
110% 116%
Closing 112% 137% 119% 113% 113% 115 116% 117% 117
111% 112
117%
Lowest

Open’g 110 115% 116% 112
High’st 110% 116% 117% 113

111% 112% 114 114% 114%
113% 113% 115% 116% 115%
114% 116% 111% 111% 112% 114
114% 114%
Closing 110% 116
116% 113
113% 113% 115% 116% 115%
Lowest 110

June—

108
108%
107%
108%

108%
108%
107%
108%

114%
114%
113%

114%

December—

Open’g 113
114% 120% 114% 114
High’st 133% 115
120% 115
115
Lowest 112% 114% 119% lit

Closing 112% 114% 12*)% 114

115% 116% 117,% 117% 111% 112% 115

116
117% 118% 117% 111% 112% 115
114
114% 116% 117% 117% 110% 111% 114%
114% 114% 117% 118% 117% 111% 112% 114%

Open’g 111 112% 117% 112% 113 112%
High’st 111% 114% 118
113% 113% 113%
Lowest 111
112% 117% 112% 112% 112%
112% 113
Closing 111% 114% 118
112%

115% 116

115% 109% 109% 112%
116% 117% 116% 110
109% 113%
115
115% 115% 109% 109% 112
116% 117% 116% 110
109% 113%

1873.
-Coupon Bonds. -

6i ’81 fund. 6s’81 6s’81 6-20s 5-20s 5-20s 5-20s 5-20s 5-20s 10-408 10-408
coup.
reg. coup. 1862. 1864. 1865. 1865n. 1867. 1868. reg. coup.

January—
Open’g 112% 114% 114% 112% 113%
High’st 115% 117% 119% 115% 115%
Lowest 112% 114% 114% 112% 113%
Closing 115% 117% 119% 115% 115

113% 112% 113% 113% 110%
116% 115% 116% 116% 114
113% 112% 113% 113% 109%
115% 115
116% 116% 114

115% 115%

February—

July—
Open’g 114% 116% 119%
High’st 115% 118% 120%
Lowest 114% 116% 119%
Closing 115% 118% 119%

116% 116% 118 -117% 117% 119%
116% 116% 118
117% 117% 119%

117% 117% 113%

116

‘

September—

High’st 115% 118

112% 112% 115
120% 117% 117% 118% 115% 118% 118
116% 118% 115% 115% 116% 114% 116 116% 110% 110% 113%
117% 120
117% 117% 118% 116% 118% 117% 112% 112% 114%

April—
Open’g 115% 117% 119%
121
Higb’st 116% 118
Lowest 115% 116% 118%
Closing 116
117% 120%

^

117% 118% 117% 118% 119
L5% High’st 114% 118% 120% 117% 117% 119% 117% 119% 119
114% Lowest 114% 117% 119% 117 117 118% 116% 118% 118
114% Closing 114% 117% 119% 117 117% 119 117 119 118

114% Open’g 114% 117
High’st 114% 117

Lowest 111% 112

Closing 111% 112

114%^114%

119% 118% 115% 115% 114%
117% 117% 113% 114% 114%
118% 114% 115% 114%
117% 119

115% Open’g 114% 118% 119% 117

March—

6s
cur.

118
116

August—

Open’g 118% 116% 118% 115% 115% 116% 114% 116% 116% 111% 111
Closing 115

5s ’81 fnnd. 6s ’81 6s’81 5-20s 5-20s 5-20s 5-20s 5-20s E-20s 10-408 10-40S
coup.
reg. coup. 1862. 1864. 1865. 1865n. 1867. 1868. reg. coup.

cur.

109% 112%
115% 115%
109% 112%

Open’g 113% 116% 118% 114% 114% 115% 114% 116% 116% 112% 115%
High’st 113% 117% 118% 115% 115% 116% 114% 116% 116% 112% 115%
Lowest 113% 116% 118% 114% 114% 115% 114% 116% 116% 111% 114%
Closing 113% 116% 118% 115% 115% 116% 114% 116% 116% 111% 114%

Lowest 113

-Coupon Bonds.--

6s

.

119% 113% 117% 118% 116%
119% 113% 117% 118% ll6%
115% 113% 114% 110
111%
115% 113% 115
110 111%

112% 115% 114%
113% 116% 114%
112% 115% 113%

113% 116% 113%

•

119% 118% 114
119% 118% 114
113% 111
113% 113

114% 113%
114% 113%

112
106
112% 106

108%
108%

October—

117% 116% 118 115% 116% 116% 111% 112 112% Open’g 108% 112 113% 108
118% 118% 120% 118 119% 117% 112 113% 115
High’st 109
115%'115% 109

112%
116
116 118 115% 116% 116
109% 111
118% 118% 120% 117% 119% 117% 111% 113% 115

108

109

111% 113% 114

110
111% 113% 115% 115
Lowest 106% 109% 111% 105% 106% 107% 109% 110
110

108% 107% 109
109% 109% 111%
103% 105

Closing 106% 111% 112% 106% 108% 107% 109% 112% 112% 107

108%

106% 108%

November—

May—

Open’g 115% 117% 120% 114% 114% 117% 117% 119% 118

112

113% 115%

Migh’st 116% 119
122% 116% 116% 118% 119% 121% 120% 112% 114% 116%
Lowest 115% 117% 120% 114% 114% 117% 117% 119% 118
111% 113% 115
Closing 116% 118% 122% 116% 116% 118% 119% 121% 120
112% 114% 116%

111% 112%
Open’g 108
High’et 109% 114% 115%
Lowest 106% 110% 112%
Closing 109% 114% 115%

106%
109%
105%
109%

106%
111
106%
111

108%
111
107%
111

110

112
112
113,% 114% 115
109% 110% 110
113% 114% 115

107
106% 103
108% 108% 110%
105% lo5% 108

107% 108% 110%
A

December—

June—

Open’g 115% 115% 122% 116% 116% 118% 119

113

Higb’st 115% 117

121% 120
123% 117% 117% 119% 120% 121% 120%
Lowest 114% 115% 122% 115% 116% 116% 119
120% 120
Closing 114% 116% 122% 116% 117% 118
120% 121
120%

113* 115

115

113%
114%

112% 112% 113%
113% 114 114%

Open’g 109% 111% 116% 112% 111% 111% 115% 115% 116% 109 108% 108%
Higb’st 113% 116% 121
116
117% 117% 119% 120
118% 112% 113% 114%
Lowest

109% 111% 116% 110% 111% 111% 114% 115% 116% 109
108% 108%
Closing 111% 116% 120% 118% 114% 115% 119
119% 117% 111% 113 114%

1874.
5s ’81
-Coupon Bonds.fund 6s ’81 6s’81 5-20s 5-20* 5^20s 5-20s 5-20s 5-20s 10-408 10-40S

6s

coup. reg. coup. 1862. 1864. 1865. 1865n. 1867. 1868. reg. coup. cur.
January—
Qpen’g 111 116% li:% 113% 115 115 116 115 116% 111% 113% 114%
High’st 113% 117% 118% 114% 116% 117% 116% 118 118
113
114% 115%

Lowest 111

116
115% 117
112% 114
115
114% 115
111% 113
114
Closing 113% 117 118% 114% 116% 117% 116% 117% 117% 112% 114% 115%

February—
en’g 111% 117%
High’st 114% 120%
Lowest 111% 117%
Closing 114% 119%

118% 115% 116%
118% 120%
121
118% 115% 116%
120% 117% 119%

116%
121%
116%
121%

116%
119%
116%
119%

117%
120%
117%
119%

117% 110% 114

115%
120% 113% 116% 116%
115%
117% 110% 114
119% 113% 116% 116%

March—

120% 118% 119% 118% 112% 112% 116%
120% 119% 120% 120% 115% 115% 117

High’st 115% 119% 121

118% 120

Closing 115% 119% 121

119% 118
118% 118% 112% 112% 115%
117% 119% 120% 119% 120% 119% 114% 115% 117

Lowest 114% 118% 119% 116% 118

April—

119%
High’st 117 120% 122 118% 120%
Lowest 115% 119% 120% 117% 119%
Closing 117
120% 12^
118% 120%

120%
121%
120%
121%

119% 120% 119% 115
120% 120% 120% 115

115

117%

115% 117%
119
119% 119% 114% 114% 116%
120% 120% 120% 114% 115% 116%

May—

1862. 1864. 1865. 1865n. 1867. 1868. reg. coup. cor.

117% 111

116% 117% 116% 117% 117% 113% 114

115%

High’st 113% 117% 119
114
116% 117% 116% 117% 118% 118% 114
117%
Lowest 112% 115% 116% 111% 115% -116% 115% 116% 116
112% 112% 115%
Closing 113% 117% 118% 111% 115% 117 116% 117% 118% 112% 112% 117%

Open’g 112% 117% 118% 111% 115% 116% 116% 117% 118% 110% 113% 111%
High’st 112% 117% 118% 112% 116
117% 116% 117% 118% 110% 114% 117%
117% 118% 111% 115% 116% 116
117% 117% 109% 113% 117%
Closing 112% 117* 118% 112% 116
117% 116% 117% 117% 110% 114* 117%

Lowest 112

Open’g 112% 117* 118* 112* 115% 116% 116* 117% 117% 111

111% 117%
High’st 112% 117% 118% 112% 115% 116% 116% 117% 117% 111
111% 117%
Lowest 112
116% 117% 112% 115% 115% 115% 116% 116% 110* 111% 117%
Closing 112% 117% 118% 112% 115% 116
115% 117
117% 111
111% 117*
'•

Open’g 112% 117% 118% 112% 115% 116% 115%
118% 113% 116% 117% 116%
112% 115% 116% 115%
Closing 112% 117% 118* 113% 116% 117% 116%

High’st 112% 118

Lowest 112% 117% 118'

117
117%
117
117%

117%
117%
117%
117%

111
112
111

111% 117%
112% 118%

111* 117%
111% 112% 117%

November—

Open’g 115% 119% 121% 115% 117% 118% 119% 120% 120% 114% 115% 116%

High’st 115% 120% 122

115% 117% 118% 120% 120% 12j* 115% 115% 117%
117
111% 119% 120% 119% 114% 114% 116^
Closing 115% 120% 121% 115% 117% 118% 120% 120% 120% 115% 115% 117%
119% 12J

115

June—

Open’g 111% 118 118% 110% 113 114* 116% 117% 117% 112 112% 117%
High’st 113 119% 119% 112% 114% 116% 119 120 119% 113% 114% 119

Lowest 111% 118

Closing 113

118% 110% 113
114% 116* 117% 117% 111% 111% 117%
119% 119% 112% 114% 116% 119
120
119% 113% 114% 119

December—

Open’g 115% 116% 121% 115% 117% 118%119% 120% 120% 114% 114% 114%
High’st 115% 117% 122




Open’g 113% 116

October—

Open’g 115% 119% 121% 118

Closing 114

reg. coup.

September—

Open’g 114% 119% 119% 117% 118

Lowest 113

coup.

July—

August—

O

Lowest 115

6s ’81
-Coupon Bonds.fund 6s ’81 6s ’81 5-20s 5-20s 5-2')s 5.20s 5-20s. 5-20s 10-401. 10-40S. 6*.

115% 117% 118% 120% 121% 121% 114% 114% 115%
113% 113% 114%
114% 117
113
120% 121
121
113% 114
115%

116% 121% 113% 116% 117% 119% 119% 120
117

122

Open’g 113 116% 119% 112% 114% 116% 119 120 119% 113% 114%
High’st 113% 118% 122% 114% 116
118% 121
122
120% 115% 115%
Lowest 112% 115% 119* 112% 114% 116% 118% 119% 119% 112% 113%
Closing 113% 118
123
114% 116
118% 120% 122
120% 115% 115%

116%
118

116%
118

4<3

UNITED STATES SECURITIES.

1S75.
5s ’81,
/
Coupon Bonds.
*
fund. 6s’81 6s’81 5 20s 5-20s 5-20s 5-20s 5-2^s 5-20s 10-lOs 10-40s
6s
coup. reg. coup. 1862. 1864. 1865. 1865n. 1867. 1868. reg. coup. cur.

January—
Open’g 113% 11844 118% 114*4 116% 118% 117% 118%
High’t-t 116
119% 119% 115% 117% 119% 118% 119%
Lowest 113% 118
118% 114% 116
118% 117% 118%
Closing 115% 119% 119% 115% 117% 119% 118% 119%

118% 115
119% 116%
118
114%
119% 116%

5s *81,
/
Coupon Bonds.
*
fund. 6s’81 6s'81 5-20s 5-20s 5-20s 5-20-< 5-20s 5-20s 10-40s 10-40s 6s
coup. reg. coup. 1862. 1864. 1865. 1865n. 1867. 1868. reg. coup. cur.

July—
Open’g 118% 121

115

117%
116% 120
115
117%
116% 120

High’st 118% 121

116%
117%
116%
116%

Open’g 115% 119%
High’st 117% 121
Lowest 115% 119%
Closing 117% 120%

Lowest

120%

120

122%
122%
117%
120

120% 122% 121% 117%
120% 122% 121% 117%
117% 118% 119% 116%
118% 120% 120
116%

119%
119%
116%
116%

122%
123
122
122

115% 119% 118% 120% 120%
117
119% 119% 120% 121%
115% 118% 118% 120
120%
117
118% 118% 120% 120%

114% 117%
115% 119%
114% 117%
115% 119%

122%

116% 117% 117%
119% 119% 119%
116% 117% 117%
119% 118% 119%

H9% 120

115% 116% 123%

119% 119% 119%
119% 120% 119%
118% 118% 118%
119
120% 119%

120%
121%
119%
121%

114% 116% 119
114% 116% 120%
114% 115% 118%
114% 116% 120%

120% 121% 116% 117% 123%
122% 122% 117
117% 125%

August—

Open’g 114% 119% 120

115%
Iligh'st 115% 119% 120% 116%
Lowest 114% 11834 119% 115%
Closing 114% 118% 120 116%

117% 120% 118% 119% 119% 113%
118
120% 119% 120% 120
114%
117% 119% 118% 119% 119% 113%
117% 119% 118% 119% 119% 114%

119%
120
119
119

March —

Open’g 114% 119
High’st 115% 120
Lowest 114% 118%
Closing 115% 119%

118%
118%
116
116

114% 119

Closing 116

February—

122% 115%
123
116%
120
115%
120% 116%

119% 116%
121% 117%
119% 116%
121% 117%

April—
Open’g 114% 120
High’st 117% 122

122

120%
122

September—
Open’g 116% 120% 122
High’st 118% 121% 123%

118% 12’)% 119% 120% 120% 114% 115% 119%
117% 119% 118% 119% 119% 113% 113% 118%
118% 119% 119% 120% 120% 114
114% 119%

.

Closing 118% 121% 123%

117% 119% 118% 119% 119% 113% 113% 118%

.

Lowest

116% 120% 122

.

128
122%
123

121
121% 117
118
124
119% 120
115% 116% 123%

120% 121% 116% 117% 124

October—

121
123%
Lowest 114% 120
121
Closing 117% 121% 123%

118% 118% 121%
118% 121
121%
118% 118% 121%
118% 121
121%

119%
122%
119%
122%

120

119% 114

115% 119%

Open’g 118% 121% 123%
High’st 118% 121% 123%
Lowest 116 % 120% 122%
Closing 117% 121% 123

123% 122% 116% 117% 124%

119% 119% 113% 115% 119%
123% 122% 116
117% 123%

May—
Open’g 116
High’st 117

121% 116% 117% 124%
121% 116% 117% 124%
120% 115% 116% 123%
121% 116% 117% 123%

November—

121% 123% 116% 117% 119% 121% 123
122% 124% 117% 118% 120% 122% 124%
Lowest 115% 121% 123% 116% 117% 119% 121% 123
Closing 117 122% 124% 117 118% 120% 122% 124%

123

116

124

117
118
115% 117
117
118

117% 123%
124%

Open’g 116% 121
High’st 117% 122%
Lowest 115% 20%
Closing 117% 122%

117% 118% 122
High’st 119
121% 126% 118% 119% 122% 124% 125% 125% 118% 119% 122%
owest 117%
120% 125% 117% 118% 121% 123% 124% 124
117%
122
Losing 118% 121 126% 118 118% 122% 124 125% 125 117% 118% 122%
119%

Open’g 117% 119%
High’st 118
120
Lowest 116% 119%
Closing 117
119%

123

12-1

124%
123%

June—

122%
124
122%
124

120% 120% 115% 117% 123%

122% 122% 117

117% 125£

December—

Open’g 117% 120% 125% 118% 118% 121% 123% 124% 124

123%

116% 1*0% 122% 123
116% 121
123% 123
115% 119% 121% 122%
116
120% 123
122%

125

123%
123%

117%
117%
116%
117%

118
118
118

122
122%

322

11& <122%

1876.
,

JanuaryOpening.
Highest

*

...

Lowest

Closing

.—6s’81.-1,
5-20*, coupon.
,—10-403.-, 5s’31, 4%s’91 6s,
*
reg. coup. 1865. ’65 n. 1867. 1868. reg. coup. coup. reg.
cur

119% 120%
122
122%
119% 120%
122
1*2%

116% 117% 119,% 120

117% 118
116%
119% 119% 1L,%
117% 118
116%
119,% 119% 118%

117.% 119 4 122% 123
116% 117
119% 120
117% 119% 122
123

FebruaryOpening,.... 122 122% 118% 119% 121 %
Highest
123% 123% 118% 120
122%
Lowest
122
122% 117
119% 121
Closing
122% 123% 117% 119% 121

\

125

122%

Lowest

125

....
....

....

Closing

119% 120% 115% 117% 119% 121% 118% 118% 118%

AugustOpening...
Highest....

119% 120% 116

125
128
125
127

....

Opening
Lowest

Closing

......

123% 123%
123% 123%
121% 122%
121% 182%

126%

Opening

....

....

118% 119% 121% 123% 118% 119% 119
118% 118% 121% 123
117% 118% 118%
118% 118% 121% 123
117% 119% 118%

120% 116% 117% 119% 121% 118% 118% 117%

....

....

Lowest

...

....

April-

119% 121% 115%
119% 121% 116%
116% 121
115%
116% 121% 116%
117

118%
118%
116% 118%
116% 118%
117

October-

Opening

121% 122% 118»4
122
122% 118%
120% 121% 117%
121?. 12*% 118%

Highest
Lowest

Closing

118% 121

122% 117% 118% 118%
119% 121% 122% 118% 119
119
11>% 120% 122% 117
118
117%
119% 121% 122% 118% 119
118%

127

117,%
Highest.,.... 118%
Lowest..... 115,%
Closing
117?*

126%
127%

....

Opening
Highest.

127

....

126%

..

....

May—
Onenincr

121% 122% 114% 119
121
122% 122% 115% 119% 121%
121% 122% 114% 118% 120%
122% 122% 115
119% 121%

Highest".
Lowest

Closing

118

118%
118
118%
122% 117% 118%
122% 117% 118%

117%
117%

....
....

117

126%
127%

....

117%

....

June-

Opening
Highest

119
122% 115%
120% 121% 116>*
119
122% 115*
124
120
116%

Lowest

Closing

118
112%
119% 114
116% 111%
118% 113%

117
119
119% 117?*
118% 115%

125%

118?* 115%

126%

115% 111% 127
115% 116
115% 111% 127
114?£ 115% 114% 111% 426?*
114% 115% 114% 111% 126%

116
113
118
114,% 115
114%
113% 116% 118
114?* 115% 115%
111% 114?* 116% 113
113% 113%
113% 116% 116% 114 115?* 114%

117?* 118
110% 113>* 110% 117
114
115% 1I3?£
117% 118% 110% 113% 116?* 1175* 114% 115%
113?*
116% 117
109% 112% 11514 116% 113% 114?* 111%
116% 117
1C9* 112% 115% 117?* 113% 114% 111%

Lowest..

Closing.

126%
125%

115% 116

November123
123

126%
um
125%
125%

120
120% 116% 118% 120% 12i% 118% 119
118%
119% 119% 115% 117% 119% 121
117% 118% 117%

127%
127%
126%
126%

....

118% 119% 121% 123% 118% 119% 118%

120

....

117%
119% 120% 116% 117%
117% 118
112* 113
Closing
117% 118
112% 113
SeptemberOpening..... 117% 118% 112% 113%
Highest
117% 118% 113% 113?*
Lowest.
117
117% 112% 113
Closing
117% 118% 113% 113%

....

March-

Highest

,

JulyOpening
Highest

122%

..

123% 116% 119% 117%
123% 118% 1*1% 118%
123% 116% 119% 117%
123% 118% 121% 118%

/■—6s 1831.
5-20s, coupon.
* /—10-40s.-^ 5s ’81.
4%s’91 Gs,
leg. coup. 1865. ’65, n. It67. 1888. reg. coup.
coup. reg. cur.

110% 125?*
111% 125%
110?* 1*3

111% 124%
111% 124?*
Ill % 124% «
HO
1*3%
110
124

December-

119% 121% 123%
121123* 1*4%
119% 121% 123%
121
122% 124%

117% 118% 117%

124%
126%
124%
126%

....

118* 118% 1:7%
117% 118% 116%
118% 118% 117%

....
....

....

Opening
Highest.

....

Lowest

Closing

113%
113%
112*
113%

116% 109% 112%
117% 109% 113%
115% 108% 111%
117% 109% 113%

115% 116% 112% 113% 111%
116% 118
113% 113% 112%
114% 116?* 112
111% 110%
116% 118
113% 113>* 112%

109% 121*
109% 122*
108
J20%
1C8* 122*

1877.
48,

6V81,/
JanuaryOpening
Highest

Lowest

Closing

5-26s coupon
i ^—10
40s.-n5s,’81,4%8,’91,1907, 6s,
coup. 1855. ’65,n. 1867. 1865. reg. coup. coup.
coup. reg. cur

114%
114%
118%
113%

109% 110%
1<9% 110%
108* 1(9*
1(8* 110

113% 115
113% 113% 112
114
117% 114% 114% 112%
112% 114?* 112* 112% 111
113
116
113% 114% 111%

FebruaryOpening
113% r-8% 1C9?* 112% 115% 110% 113% 110%
Highest
114% 108% 110% 113% 116% 111% 114% 1U%
Lowest
111% 107% 108?* 111% 114% 109% 113% 109*
111% 10“% 108% 111% 114% 104% 113% 109%

Closing

1^1%

111% 107,% 108

Lowest

Closing

...

..

111% 113% 109* 110%
113% 108% 109% 112% 114% 110% 111%
111% 107% 108
111% 113
109* 110%
112% 108?* 108% 111* 113% 110* 111*

....

Highest
Lowest

Closing

....

....

....

....

....

....

....

Opening

109%
110%

109%
110%

112% 108% If8% 111% 113% 110% 111% 110%
114*

111% 110% 113
115% 112% 113
112*
112% 1C8% 108% 111% 113% 110% 111% U0%
114
111* 110% 112% 115% 112
112% 112

Lowest

Closing

114%

115%
1*4%
115%

....

110% 118

...

Ill* 114% 116

....

....

115

110?* 113
115
110% 113* 116

....

.

..

...,

....

....

....

....

....

Highest
Lowest

Closing




115
115%
114%
115

....

....

....
....

110

113

116%
lit* 116%
109% 1:2% 115%
119* 112% 115%
110

AugustOpening
Highest

,

112

112%
112?*

123*
123?*
122%
122%

Highest

112%

111%

Lowest

.

.

122%
123%
122%
123*

Closing

105%
105%
105%
105%

111

110%
110*

Lowest

....

....

....

....

....
....

123%
124%
123%
124%

Opening..... 110%

Highest

107% 113% 108% 109%
108
110% 108% 109%
107
109% 106% 107*
107% 109% 106% 108*

105% 107% 109%
105% 108% 109*
105
106% 109%
105% 108% 109*

110%

Lowest

109*

Closing

110%

November—"

1’2% 113
113

110% 108%
113% 112
109

112% 112% 110% 108%
11*% 113* 111% 108%

....

125%

....

*25*

....

125%

....

125*

Opening

110%
110%

Highest
Lowest

Casing..

105* 108%
106* 109*
105% 108*
106% 109*

110*
...

110%

110

107
108%

16*
1.8%

....

...

....
....

122*
122%
122

122%

Opening

Highest
Lowest

Closing

110%
Ill

109%
109%

106

126

108% 105% 123%
108% 105* 125

....
....

106% 101* 111%
106?* 109% 111 %
105’* 108* lit)
105% 103% 110

108% 106% 103

123

108% If6% 103
123*
107% 105 101?* 120%
107* 105% 101* 120%

107

107* 107
105
101% 1?0%
107% 108% 107% 105% 102% 120*
108% 107% 106% 103% 101% 120%

107% 103* 107% 105% 102% 120?*

107%
111% 108%
110
107%
111% 108%

December-

112
112?* Ill
112
112% 113
111% 112% 110%
112,% 112% 112

111

108% 105% 123%

109

111% 109% 113% 109% 109
105* 125
109% 111* 109% 113% 110% 109
105% 125*
105% 108% 110% 108* 112
108% 107% 104
106* 108% 110% 108% 112% 108% 107% 104% 123%
123%

Ill

Highest

113

6s,
cur.

107

111*

Opening

112

reg.

106% 109

Ill*

Closing

106% 109% 112
109% 112%
106* 108% 111%
103% 109% 111%
107

reg. coup. coup. coup.

October....

June—

Opening

Closing

,

September-

MayHighest

112% 113% 112
118
113* 112
112
112% 111

Lowest

123%

....

April-

Opening

112

Opening

~10-40s.-i5s,’81,4%s,’91,1907,

123%
121%

....

4s

5-2fts coupon
.
coup. 18jo. ’t5,n. 1837. 1863.

July-

March-

Opening
Highest

Cs,’81,

108* 1C6* 105% 102% 121%
108* 107
105% 102* 122
108* 106% 105?£ 102% lvl*
108% 106% 105% 102* 122

108?* 109
108% 109
106% 107%
106% 107%
..

107

105

102% 120%

107?* 105* 103% 122*
105* 103% 101
KO
K0
105% 103% 101% 120

STATE
PRICES

FROM

SECURITIES
TO

1 86 0

187?

INCLUSIVE.

The dealings in State bonds prior to the year 1860 were upon a small scale as compared with the transactions
of late years. The debts of Northern States were created in large
part for war purposes, between 1861 and 1866,
and in many cases were greatly reduced by payments during the ten
years succeeding the close of the war.
The
debts of the Southern States remained substantially the same at the close of the war as they were at the beginning.
Amid the unfortunate and

disorganized condition of affairs attending reconstruction, bonds were issued and
railroads, in some cases with reckless extravagance. Discouraged by the heavy loads
thus incurred, and claiming that fraud or carelessness had much to do with these enormous issues, some of the
Southern States passed “scaling” laws, or have neglected their bonds and allowed them to remain dishonored.
The Eleventh Amendment to the Constitution of the United States provides that the judicial power of the
United States shall not “ extend to any suit in law or equity commenced or prosecuted against one of the United
States by citizens of another State, or by citizens or subjects of any foreign State.” It is under the protection of
this provision in the fundamental law of the land that States remain free from prosecution on their debts, and that
State bonds become virtually obligations of honor only.
In various ways the creditors of States have endeavored to bring suits for the collection of their debts, usually
by bringing their action in form against a State officer, or by evading, through some other technicality, the direct
suit against a State; but the United States courts have generally looked with disfavor upon such suits, and appear
to be disposed to uphold the Eleventh Amendment in its full scope, so long as it continues to be a part of the
Constitution.
One of the suits was that of “ Self vs. Jenkins, State Treasurer of North Carolina,” in which a
decision was rendered in the United States Circuit Court of North Carolina, in June, 1874, the opinion being
given by Chief Justice Waite. In this action the facts presented a strong case for the bondholders, as they sought
a mandamus
against the State Treasurer to compel him to reimburse the special tax fund from moneys in his hands
from taxes for general purposes, and apply them to the payment of interest on the special tax bonds. The money
collected under a special law to pay interest on those bonds had been diverted by an act of the Legislature, which
the Court admitted to be unconstitutional, but no subsequent law had been passed to replace such funds, and the
Court refused to order the Treasurer to reimburse them from other moneys in his hands collected for general
purposes.
It is pretty well settled, therefore, by this and other cases, that the courts of the United States will
not entertain an action brought by a citizen, directly or indirectly, to recover judgment against a State.
The only practical method yet adopted to give bondholders a remedy against repudiation by States, is that
of making the coupons receivable for taxes, and when such a provision is embodied in the law under which the
bonds are issued, it has been held in Virginia to form a contract with the bondholders which cannot afterward be
annulled by act of the Legislature.
endorsements

were

made for

.

[Prices from 1SG0 to 1871

are

compiled from sales, and since 1871 from

1860.

1861.

pi

ices bid

on

Friday of each week, at the New York Stock Exchange.]

1864.

1863.

1864.

DESCRIPTION.
Lowest.
Ohio 6s, 1886

99
100
interest; 100

“

Ill. 6s, ’79, coii
Ill. War Loan
Indiana 5 per cent.

..

Michigan 6 per cent...

Tennessee 6 per cent.
Ten. 6 p. c. new bds...
Virginia 6 per cent....
Va. 6 p. c. new bds....
N. Carolina 6 p. c.
N. C. 6 p. c., new bds.
N. C. do. Special Tax.
Missouri 6 per cent...
Louisiana 6 per cent..
California 7 per cent..

73

Jan.

93
Mch. 106
Dec.
93

97

June

93

Highest.

Jan.

70# Jan.

115
100

85# Sept.

80# Jan.

110

July.

93

Dec.

83# Oct.

Highest.

57

Jan.

67# May

49

Dec

75

53

Dec.

59# Dec.

Lowest.

Aug.
June
June

April

77# Jan.

84
105
63

new

Dec.
Feb.

42

Jan.

Mch.

36

April

81

Mar.

49

Jan.

65# Oct.

Sept.

44

June

82# Feb.

60

Jan.

74

84# June 35 May.
45
99# Oct.
May.
95
Sept. 71# May

40

77# Mar.
88
Jan.

Jan.
Jan.

56# Feb.

76# Jan.

1 116# Dec.

1866.

72

Jan.

59

1867.

70

June

Mar.

55
114

Nov.

52

July.

64

Feb

50

Mar.

92

Dec.

Feb.

47

Jan.

64

Sept.

50

Jan.

73

Nor*

80

Mar.

49

Jan.

63

Aug.

58

Jan.

86

Dec.

75
80

May.

60
52
123

Oct.
Feb.
Jan.

75# April
75
April

51
60
112

Mar.
Feb.

79
80
155

Dec.
Dec.
Jan.

Mar.

Aug. 139# Mar

1868.

Highest.

Lowest.

Highest.

Lowest.

84

Mar. 100

June x61

Jan.

70# July. x59# Jan.

60

Nov.

72

Jan.

41

Mar.

60

73

Nov.

88

Jan.

45

Jan.

bds

N. Carolina 6 per cent.
N. C. do. new bds...
N. C. do. Special Tax.
Missouri 6 per cent...

x43# Jan.

.

1869.

Highest.

Lowest.

78# June x49# Dec.
40# Dec.
60

May.

x47

Dec.

49

Mar.

60# July.

x50

Jan.

79

Sept.
June x40# Dec.

Highest.
70

Nov. 108

Feb.

Dec.

167

1870.

Jan.

69# Jan.
59# Jan.
63# Jan.
66# Jan.

Lowest.

57
x40

Nov.

64

85

Sept.

96# June 85

Jan.

Aug.

1871.

70

Lowest.

July.

61
61
59

68# July.
Mar.

76
73
55

60#
July. 81
36# July. 15#
12#

Jan.

20# Dec.

Mar.

95

Jan.

May.

.

Highest.

x52# Jan.
45# Mar.
x4S# Jan.

27

71
Mar.
93# Dec. 86# Mar. 106
July. 84
Louisiana 6 per cent.. 80r> Jan. 100
Sept 80 Feb. 90 AJan.
California 7 per cent.. 106
April 120 Oct. 115 Jan. 12S&Dec. 128
Connecticut 6s
98# Jan. 102
Sept
Rhode Island 6s.
99 " April 100
Mar.




Highest.

May

Mar.

100

Lowest.

Va. do.

Lowest.

105# Dec.

77

77# Dec.
Dec.
Jan.
Jan.

75
77

Jan.
Feb.

DESCRIPTION.

Tehn. 6 per cent
Tenn. do. new bds....
Virginia 6 per cent....

Highest.

Dec.

77
75

Lowest.

Nov.
Dec.

34# June

95

a

„

April

Feb.
Jan.

Lowest.

Mcli. lOOJfc July.

Dec.

61
94
82

Dec. 109

75

113# Aug.
Dec. 106# June
Feb. 106# Oct.

104# May. 106# Sept.
86
98
64

Highest.

87
65

!06# Jan.

Kentucky6s...
Ill., Int. Imp. Stck. ’47
“
“

Lowest.

Highest.

18* 5.

June

Dec.

76

Jan.
Oct.

76# Aug.
74
April

89

75

Dec.

Dec.
Dec.

51# Feb.
29# Feb.
21# Feb.

Jan.

99# July,

•

•

•

•

•

•

•

•

»

••

•

Aug.

Feb.

Mar.

134

Jan.

Highost

••••!•••••

May.

48

STATE SECURITIES.
•

January. February

March.

April.

Low. High. Low. High.

Low.High.

Low. High.

DESCRIPTION.

Alabama 5s
do

8s

90
50
54
45

90
50
54
45
-110
-100
77

55
85

90-90

59
85

-

1872.

May.

June.

July.

August.

Septsmb’r October. November December

Low.High. Low.IIigh. Low.High. Low.High. Low.High.
Low.High. Low.High. Low.High.

60 - 60
81 - 81
54-54

62*- 62*

57
83
50
53

-

60
85
54'
63

57
80

59
82
50
53

-

58 - 62
55 - 55
83 - 83* 80 - 80 ‘ 82 - 83
81
81
56* 57*- 57*
■47 7s L.R &Ft.S.
47 - 47
40-40
42
-42
53 - 53
7s LRPB&NO
50 51 - 51
49*- 49* 45 - 48
41-44
42
43
44 - 44 ,
44
California 7s
110
44* 43-44
110 -112
110 -111
30 '
110 -110
8u“
110 -110
110 -115
lii -lii 111 -111 109 -111
Connecticut 6s
98
100 -100* 100 -100*
110 -110
109 -109
101*-101* 101 -101* 101*-102
99 - 99* 99 -100
100 -101
Georgia 6s
70
101 -101
75
75
101 -101* 101 -102*
..72
72
72 - 74
70 - 72
do
73 - 73
7s. new
70 - 70
....74 - 75
85
86
70 - 70
84 - 88
70 - 70
88-88
88-90
88 - 88* 85-88
Illinois 6s, ’77, cpn... 98 -100
87.-88
85 -85
98 - 98*
85-86
98 - 98
85 - 88
98-99
88-88
98-99
98 -100
98 - 98
97-97
95 - 98
Kentucky 6s
97 - 98
98 -98
98 - 98
98 - 98*
98*- 98* 97*- 97* 98 - 99
98 -100
100 -101
Louisiana 6s, Levee.. 6 2*- 62*
99 -100*
...98-98
62*- 62* 62 - 62
98-98
67*- 67* 63 - 67
67 - 67
55 - 60
do
8s of ’75... 74 - 74
56-60
...50 - 50
83 - 83
50 - 50
78 - 78
83*- 83* 83*- 83* 79 - 79
70 - 75
Maine 6s
70 - 70
100 -101
101 -101* 101 -101* 100 -101
70 - 70
100 -100*8 100 -100
99 -100
100 -100
Massachusetts 5s, gld 98*- 98* 98*100 -100
99*-100
99 - 99* 99 - 99* 100 -100
99* 98*- 99
99*- 99* 99 - 9 ?
100 -100* 100 -100
6s, g, 76 108*-108* 10?*-108* 108 -108
99*- 99* 99 - 99
98 - 98
107 -107
98-98
105 -105
........Maryland 6s, Defence 101*-103 103 -104 104 -105
103*-104* 104 -104* 102*-105* 102*-104 102 -103* 102
Michigan 6s, 1873.... 98 - 98
98 - 98
-103* 101*-102 102 -103*
98 -100
99-99
99
99
99 -100
95 - 97
Missouri 6s
95
95
95 - 96
95 - 97* 94-95
95 - 98
98 - 98
91 - 95* 95*95 -100
95* 95*- 96* 96*- 97* 94*- 94* 93 - 94
do
H. & St Jo 91 - 94
92 - 92* 92*- 94*
92
91*" 93
92* 92*- 93
93 - 93* 93*- 94* 91*- 91* 90-91
94*- 95
92*- 94
New Hampshire 6s... 99%-101
89 - 91
89 - 91
91 - 91* 91*- 92
100 -101
100*-101
....99*-101
...New York 6s, Boun, c 106 -107
98 - 98
106*-106* 107 -107* 107*-108 108 -109 108*-109 105*-106* 107
97*- 98
97*- 97*
do
-108* 106* -103 105*-107 106 -107 106*-108
6s, Can, ’73 106 -107
106 -106* 105 -106* 105 -106
107 -107* 103 -105
1C5 -105* 105 -106
do
105 -105* 104 -104
5s, Can, ’74 98 - 98
100 -101
105 -105
101 -101
103 -lot;*
100 -101
100 -101
101 -102
100 -100
100 -100
North Carolina 6s, old 32*- 31* 32 100 -100
98 - 98
98-98
97 -100
34* 35 - 38* 36 - 36* 30*- 36
33 - 34
30*- 35
33 - 35* 31 - 33* 32 do
6s, Fdg’66 23 - 21
22-23
23-27
25 - 25
33* 33 - 36
24-24
34*- 34*
25 - 26
27 - 27
do
26 - 27
21-25
6s, new... 15 - 16* 16
20 - 23
24 - 27* 27*- 27*
20 - 20* 20
18* 17*- 23
20* 20*- 22
21-23
do
20 - 20* 17 - 20
6s, sp. tax 12 - 12* 12*- 13* 13*- 16
20*- 21
19 - 21
19 - 20*
14*- 14* 14
15 - 15
14* 14*- 15
15
Ohio 6s, ’75
15
12 - 12
100 -101
10 - 12
101 -101
101 -101
101 -101
12*- 14* 14*- 14*
101 -101
100 -100
98 - 98
98 - 98
..Pennsylvania 5s, cpn 95 - 96* 96 - 97
....—
97-99
99 - 99
100 -100
99 - 99
99 -100
100 -101* 100 -101* 100 -100
do
6s, ’67, 5-10. 101*-101* 101 -101* 101 -101*
100 -100
97 -101* 97 -101*
105 -105
102*-105
105*-1G6* 105 -106 101*-102* 101 -101
Rhode Island 6s
99 -100* 100
101 -101* 101*-101*
-300* 100*-100* 101 -101
101*-102*
101*-101* 102 -102* 99*- 99* 100*-101 101 -101 101
South Carolina 6s.... 49 - 50
52 - 54
52 - 53
-101* 101*-101* 102 -102
40 - 40
50 - 50
52 - 52* 52 - 56
do
50 - 56
J & J 25 - 30*
40 - 50
45 - 50
50 - 50
50 - 50
29*- 32* 30*- 39
37*- 38* 32*- 36* 29 - 34* 28*- *9
do
23 - 25
A & 0 22 - 27
25*- 29
23*- 26* 23*- 26 f 23 - 24*
26*- 31
29*- 34* 35 - 36
25 - 32
30*- 33
26 - 26
23
Tennessee 6s, old.... 63*- 66* «5*26
23*- 25* 23*- 28
26 - 27)/ [ 25 - 25*
66* 66 - 67
66*- 70* 67*- 73
72*- 75
do
73*- 74* 73*- 74* 72
6s, new... 63*- 66* 65*- 67
73* 72*- 75
73*- 75* 78 - 80*
66*- 67
66*- 70
•67*- 73
72*- 74* 73 - 74* 73*- 74* 72*- 73*
Texas 10s of ’76
88-88
72*- 75* 73*- 75* 78 - 80*
86 - 86
75-84
86 - 86
84*- 85
86 - 87*
Vermont 6s
100*-101
101*-101* 101 -101 100 -100 101 -101 100 -100 100 -100 100 -100
loo -loo
Virginia 6s, old
50 - 50
100 -100
100 -100
52*- 56* 50-55
100 -100
44 - 48
45*- 51
42 - 44
44 - 46
do
44 - 46
6s, new.... 50 - 50
43 - 44
55 - 57
44 - 4?
56 - 58
55 - 56
55 - 55
62 - 52
48 - 50
50 ' - 50* 48 - 51
do
50 - 52
6s, consol.. 51*- 52* 55 - 57* 54*- 59
51*- 54* 52' - y,'
51*- 54* 53*- 56* 54 - 56
50*- 52
50*- 51
50*- 50* 51 - 53
54*- 55*

Arkansas 6s, funded.
do
do

-

57
60

-

57
60

-

-

54-55

86
54

88

-

82

-

85

-

-

-

-

-

-

_

-

-

...

....

-

-

..

..

_

-

—

_

.

ji

...

...

-

....

-

-

loi*-103*

-

-

-

-

....

-

-

-

-

.

-

-

_

_

.

w*- tt*

18*3.
January. February

DESCRIPTION.

Low

Alabama 5s, ’83
do

March.

High. Low.High.

57

Low

April.

June.

^

8s

8s, M.&E.RR.

do

M

8s of 1892

82
84

-

45

35

6s,

cou.,’79..

35

39

-

-

-

....

.

.

..

-

...

86 Vj
30
13
18

.,

....

.

__

,.

—

,.

-

-r

—

....
-

.,

....

108
108
101
75
89
83
96

-

.

99

-100*
-

90

95

-

95
95

-

97
95
97

-

.

..

-

....

-

.

....

—IPS

10SV-109
108*' -109
101 -101
70
75

-109
-101
75
90
85
97
-

88

mm

no
no
101
70

-

-

.

# * * *

—

85

new

war

87

88*

-

-no
-no
-101
73

89

-

-

-

18
18
18
115
115
101
72
90

do
do
do

95

-

-

25
18
18
13
18

18

6s, ’83
7s, ’78
Missouri 68 #
do
do

96

97

-

96

-

96

,

95
95

-

98*

-

-

N. Y. bounty, reg

-

-

97
42

52

..

.

Rhode Island 6s
8. Carolina 6s
do
J. A J...
do
6s, A.&O
do
fdgact,’0'
do Ld C.,’89,J.&.i
do
do
A.&O
do
7s of’88..
-

Tennessee 6s, old....
do
Gs, new....

Texas 10s of ’76

Virginia 6s, old
6s, new
6*. consol..
6s, deferred.




-

-

-

27
27
25
-112
-112

-

....

-

-

-100
97
97

95

95

-

95

-

89

95

-

95

97
42
40

97

-

43
40

-

-

97

-

-

97* 98

-

90
90

97*
99

-

—

40

98

40

-

50

-

-

95

99

96
96

97
97

-

-

-

-108*
-107*
-10() W;

-106*
-106*
-103

103
103
103
-114
113
33* 28
53
60
44
40
22
-

10

-

101
100
102
100
40
21

-

-105
-105
-105
-113

20
19
10

-

-

-

-

28
60
44
22

17
10

-18*
14*
-

-104
-106

-100* 1C0*-100*
40

-22*
25*

-

96
97
99

-

-

96
97
99

95
95

*

-100*

•

89

75

-

95

-

95

95

-

-

-

-

15

-

100
97

95

-

95
50
41

-

-

-

95 -100
45V- 45 V
42
42"
53
55
52
54

-100
-100

100
69

-

95

98

91
94

-105
-101
-101

-118
-

59

-

44*

-

15

-

31
60

44*
15"
....

17
12

-

-

104
106
:oo

17

12*

-104
-106
-101

•

•

•

-

-

23

17*

19
18

-

-

-

•

...

-

20

98

-

22

...

-

95
98

92
92

—

100‘

95

98

-100

90
102
102
95

61

-

-

-

55
55

50
55

18
16
17
14
-100
-105
-107
-101
25
19
-

20-20
20-20

18

18

17*- 17*
17

17
12* 15
100 -101
103 -105
106 -107
98 -100
25
25
-

-

20
15

-

-

-

17*
28
17

—

73
45
50

M*- 55* 54*
14

-

-

-

-

-

-

-

82
82
75

80*
80*

47
50

44^

-

-

-

£1

55* 55*
14* 14

-

-

-

-

84*
85
69
45
51

56*
14*

22-22
77 - 80*
78 - 80
69 - 69

42-44

91*- 91*

49
50
13

-

49

53*
13*

16

-

15*
15*
12
98
100
102
100

-

-

-

15*
15*
17*

-104
-105
-105
-100

112
106
106
106
106

-113

-

-

-

-

-

16*
2(i*
16
20
20

-

10*

-

-

-

-

6ft
43
50

77
43
50

54*

54*

12*

8

90

-

-111*

112
111

-108
-108

107
107

-108

-

-

107

65
86

-

-

95

'

95

'

-

-

90-90
102

-102

102

35

100
38

95*

-

-

_102
-100
88

-

52*

-

-

-

-

50

54*
10*

91

-108
-108

,

,

,

58

-

' "oT

-

88

-

95

90

95

90-90

91*

85
82
84

88

-

....

104*-105
104 *-105
112 -112
111 -111
100 -107
106 -107
106 -107

106

-108

-107
27

107

16

-

-

27

27*

54
35

To* io*

-102
-103

100

17

-

-

-

-

98

-

-

-

98
28

14*- 15*
-

-

20
17

_

20

-

80

-

85
85

20

too
102
98
31
14
21
18
13
20

-102*

-

16*

-

-

-

-

-

-

-

16
10

-

-

88

86

-

84*

79

87*

-

85

-

85

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106
106

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100
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105
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do
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N. Carolina 6s old...
do 6s N.C'.RR.c. u
do 6h d * ex cou
do fdg act,’66.
do fdgact,’68.
do new
do 6s special tax.
»hio 6s, ’75
do 6s, ’81
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Michigan 6s, 1873...

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6s new
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8s of 1910

45
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do 7s, L.R.& Ft 8.
do 7s, M. & L. R..
do 7s,L.R.P.B&N.O
do 7s, M.O.&lt.Riv
do 7Sj Ark. C. RR.
California 7s../
do 7s. large bds.
Connecticut Gs

do

Sept’mber October. November December

-

Arkansas, 6s funded

Georgia 6s
do" 7s

August.

-

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37
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STATE

SECURITIES.

40

1874.
January

SECURITIES.

February

March.

May.

April.

June.

July.

August.

Septemb’r October. November December

Low. High. Low. High. Low. High. Low. High. Low. High. Low.
High. Low. High. Low. High. Low. High.

Alabama 5s, 1833.....
do
5s, 1886
do
8s, 1886
do

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....

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lo

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Connecticut

32
23
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101
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105

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105
105
105
105

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100
100
100

110

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110

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110

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106
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110
110
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103

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112

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110
110
112
112

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110

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110
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112
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112
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105
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105
28% 20
29% 20
46
40
44
35

112

112
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103
28
29
24
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35
35
42
35
42
35

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23
25
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29

28
20
31
35

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35

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34

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25

25

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24

18

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14

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28
27
38
35

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25

25
22
22
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16

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25

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16

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25
24

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25

19
19

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79%

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61

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79%
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83
36

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40

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81
63
81
63
63
83
42
45

81%

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63

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81%

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8%
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9
9
9
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100
100
103

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100%-101
25
8
17
15
16

25

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9

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19

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16
16

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63%

-

85
36

-

21
21
9
9
9
100
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102
101
20
7

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.

35

47
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si

108

108
105

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19
19
40
40

105

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5
100

5
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15

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25
8
20

99
98

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18
16
16
18

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68

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....
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86

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30
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15

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m%
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68

82

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82

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86

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35
50

-

34

-

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60%

83

80
61

61% 61
89
32
35
51

90

28
32

50%

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-

79%

64%

62% -64%

67% 62%
86

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83

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25

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106
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98

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77
91
91

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108

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108

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110
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19

.

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108
108
108
108
109
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110

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105

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-

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-

110
110

110
110
110
110
112
112
106
106

108
108
108
108
110
110
110

113
107
107

25

-

25

25
15
14
10

30
17
17

30
14
14

12%

12%“

-

11
11

10
10

40
40

40
40

25

18%
19
18

18%
18%
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80
62
80
63

62%
91
30
32

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10

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....

98
100
102

99
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25
17
17
20

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-

25
18
17
20

100
102
102
100
25

-

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102
103

15
20

25

18%

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20

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75

-

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28

52%

30
50

37

35

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54%

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32

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■
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5
101
103

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77

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20
16
16
17
17
17
17

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■
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50
74
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17
17
7

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76%

-

56

■

-

-

-

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■

•
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■
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■

99
99

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•

-

97%- 98%
97
98%
97
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96% 96%
97
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95
-95%
-

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-

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■

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98
94
94

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»

108

110

■

110
110

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108
110
110
110
112
106
106

110
115

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23

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33

30

-

30
16
16

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104

103%

-

15

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22
17
17
17
17
17
17

6%
74
f.6
74
56

75 - 75
76% .67 55 %'- 57%
55
51%56 - 57% 50%- 55
50 - 55%
90 - 90
95%- 95%
28 - 28
28’ - 32" 32 - 35
28 - 30
28 - 30
32 - 35
28 - 30
28 - 30
32 - 35

-

■

-

51%- 51%

51%- 52%

52%- 53

34

35
9

40%9%-

50-60

-

37

35

37
21

35-35

20

-

15
10
10

15%

-

10

52
52

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-

12%

14
8
8

-

-

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-

20

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16

■

-

■

17
17

-

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■

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17
6
70
55
70

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15

12%
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98
103
103
1(4
30

-

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30
21%- 31
21 - -30
22 - 29
18 - 29
18 - 29

-

20%

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7%

•

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■ -104
• -106
■ -104
■
30
•

106
104
27

21%

-

-

-

21
26
17
17
17
7
75

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18

6%75

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-

-

-

-

29
7
78

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-

-

-

-

51%54
95
35
35

30%

■

103% 103

-

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■

23
41
41

•

-

-110
-110
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20-24
20-23
50-50

■

-

20
15
15

6
67
51

108' -iio"

■

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5
5%
5
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5
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101

100

17
17
17

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110

-

103
105% 113
25
17
17
20
17

•

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5
5
5

105

-

25
25

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.

30
16
16
13
10

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101% 101%- 103J$ 103

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15

-

42
42

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56%- 57%

60
81

41
41

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72% - 81
-

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100

52
70
50
51
92

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6

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42
42

10

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93

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22%
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5%-

25

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99
98

93
96
93

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■

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101%- -102

96

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11
11

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101
98
97
96
96

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mi
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96

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25

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25

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19%- 20% 20%20
19%- 30

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98

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18
40
40

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96
92
92

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18

96
95
95
93

92%- 93
94 - •94%
92%- 93

94

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93

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25
25
21
22

107%- •107% 107%--H8% 108%' -108% 108%-109

no
110

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110
108
108
105

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103
101

103

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97

95

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•

95
94

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■

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87
77

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103% 103

103%

80
92

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101 -1C2
99 - 99%
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91 95-96
93% 93%
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110

-

-

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101

■

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106
110

103

99%

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-

98
97

110
- 110

106

-

-

-114

24
24
21
21
25
25
25

■

-

-

102

■

-

103

104
101
101

99%-

25

-

-

25
13

27%

-

25 '- 28

6
6
6
-101
-1(3

5

88%

-

26"

-

28

-

-lt'2% 102%-102% 100%-101
-

22
22
21
21
27
25

-

25

98
102-102%
104 -It 6% 102%-106%

102
20
7
7%
16
16
15
16
16
18

100

22
22

-

28

-

-

97

-101
-

103
100

•

97 - 97
96 - 96
91 - 91
91 %- 92
106%--107

-

6
6

-

-

28

-

6

8%

-

-

-

-

-

91
85
75
102
102
102
101

85

■

-

101

-

79

•90%

-

-

35

-

79

■

-

•

-101

22
12
12
12
12
12

-

104% 105* -106''

-

72% 73%- 75
-101% 102 ■102
-101% 102 ■102
-101% 102 ■102

18
18
35
35

-

-

-

•

-106* 1G6%-107

-109
-109
-109
-109
-108
-108
-108

108
108

-

12%

-

.

-

50

9

-100
-104
-106
-102
25

-

m

-no
-110
-110
-no
-110
-110
-no
-106
-106
20
20
35

25

_

—

105
106
106
106
1C6

—

9
9

-

-

-

21%

-

-

49%- «% 51%--52%

-

106?i-106%

....

25

28

-

-21%

_

-

27

-

_

35

32

-

.

...

27

92

•

25 VT- 25 U

89% 90% -91% 83
71
67
60% 69
89% 89
91%
70
68
69% 71
70
64
68% 71
85
39

32

-

91%- 92

-110

18
35
35

28

-

.

95

-

91

26%- 26%

....

63

42

-

-

-

-

25

-

-

-

30

-

-

-

-

21
44
44

-

-

.

-

-114

-

-

93
•

_

-106

18

-

-

25

26% -26%
26% 26%
20
21%
20
21%

-112
-112
-112
-no
-no
21

-

31

.

-

-

82
x72
101
101
101
101
100
21
21

-

95

-

-112

-

-

25

25
23

-

106

111
no
no

-

-

88

93%- 94

92%

92%-

92%- 94
90
90

94%
94% '- 95%

!06%-106% 106%-106% 107%-110
106%—107% 106%-107% ,07%-no

-107
-112
-no
-no
-110

-

'-

..

104
75
89
82

12

-

8-8
8-8
8-8

96% 96%- 97%
94%- 95% 95%- 95%

-

97
97
97
95

-

97
97

__

-104
76
89
82

12

-

■102% 102%- 103
■102% 102%- 103

-

98
97
95

-

95%

-

39

-

20
8
8
8
8
8
112

9-9

-

22
23

99% -99%

-

-

97

-

95

.,

.

112

20-21

27

-

98
97
97
97

-

95

_

„

15
12
12
12
12
12
-112
-

103
76

22-22
22-22

•

23

-

100
101
101
93
99% 99%- 99%
93
98
9S%- 98%
96
97% 97 - 98
94
96% 95 - 97
94
94
95 - 95
93 %- 93%

98%

^
-

38

48
-45
-

20

-

96%

-

50-50

-

*20*

-

97

—

87

47
40

-

97
__

38-89

f

-

—

-

2d

t

30-38
30-38

80
80

-

45-45

_

•

-

-

-

■

-

•

-

-

•

35

•

-

53

-

75
57
57
97
39

75
56

--

57

-

’36*

39

38
37

39

•

-

■

-

-

-

-

-

-

56

78

59%

59%
88
39
38

*

57%- 58
60%- 53% 54 %- 54%
-

-

■

8.

fis. d ferred.

r

13
9
9
12
12
12
111

-

77%- «"<% 73 - 75
89
89% 89% - ■89%

-

-102%
-102% 100
-102%

98%- 99

....

__

-

..

.

_

-

6s, new, ’66..
6s, new, ’67..
6s, consol
6s, ex m.con

.

•

-

Texas 10s of ’76.

.

-

-

75

-

80
80
100

....

98
97
97

-

.

f

-

110

-

88%- 89

81

-

100

....

8
H% 9% 11%
do 6s, sp. lax, o'. 2
8
11
10% 11%
do 6s, sp. tax, cL 3
8% 11% 10% 11%
Ohio 6s, 1875
do 6s, 1831
100 -100
102 -103
do 6s, 1886
100 -103
101 -102%
Rhode Island 6s..
97 -101
100%-101
S. Carolina 6s
23
25
25
25
do
J. & J.
6%
9% 8%
9%
do
A. & O
12
20
do
fdg act, ’66 12
14
14
15
do Ld C.,’89, J.&J.
do do ’89. A&O
do
7s of ’88
do
nonfundable

6s, newser’s

-103

94%- 97

-94%

30
30

8-13
8-11
8-11
8 -11
8-11
8-11

.

-

-

-101% 101%-102% 100
-101% 101%-102% lfO

,

11

.

15
15
20
20
20

—

cou

ex cou

.

100

30
80
-46
-

46

15
6

-

6
6
6
6

-

75

75
91

—

80
100
100
ICO
101
100
20
20

....

-

,

.

due ’87
New York B’ty In, reg;
103%-105% 105 ‘ -107

Yennesse 6s, old
do
68, ex cou..
do
6s, new....

•

_

-101

_

_

-

-

.

-

-100% 100
-100% 100

8
8
8
8
-112
-

-112% no

90

*

9?'

-

-

10
10

-

75

...

95
95

-

30
30

103%-103% ioi -102% 102%-102% 102%- •103%

—

*

due ’86

6s, Can, ’74
fis, Can, ’75
68, Can, ’7?
6s, Can, ’78
do 6s, gold, rg,
’87
do 6s, gold, cp, ’87do 6s, gold l’n, ’83
do 6s, gold l’n, ’91
do
5s, Can, ’75.
do
5s, Can, ’76.
N. Carolina 6s, O, J&J
do
6s, O, A&O
do 6s,N.C.R. J&J
do 6s,N.C.R,A&0
do 6s, N.C. R., cp.
off, J.&J.
■do 6s, N C. R., cp.
off, A.&0,
do 6s, fdg act, ’66
do 6s, fdg act, ’68
do fis, new, J. & J.
do 6s, new, A.&0.
^do 6s, sp. tax, cl. 1

10
10
112

.,

*

...

-

-

—

-

10
5

15

-

8
8
8
8

-

...

20
...

10

-

-89%

»

-

—

25

-

—

-

*

*

-

30
30
45
45

-

.

-

....

45
45

-

__

25

_

do long.due ’81-’91
do Asylum, due’92
Han. & St. Jo., due ’74
do
due ’75
do
due ’76

B’ty In,

*

,,

-

—

1

....

45
45

-

-103
76

-

30
30
45
45

....

....

....

....

do

79

75

-

98

__

6s, 1883....
7s, 1890
Missouri 6s, due 1874.
do
6s, due 1875.
do
6s, due 1876.
do
6s, due 1877.
do
6s, due 1878.
do
6s, due 1879
do
6s, due 1880
do fdg bds, due ’94

do

-

-

102
75
89
77

-102%

....

8s of 1910..

do
do
do
do

-

71
97
97

40
40
40
30
14
14
14
14
14

-

-113% 112%-113

-

-

8s, Levee.,
8s, Lev. of ’75

do

16
16
16
15
15

-

101
75
89
79

-101
-

-

....

40
40
40
25
13
13
18
13
13

32% - 32%

-112

75

40
40

-

#

do
do

do
do

-

-101%
-

60
96
96
96
100
100

95

-

-112
-112

77

95
95

-

-

16
112

-

35
16
16
16
16
16

-

16

-

7, peniten..
6s, Levee.,

do
do

40
40

-

16
16
16

...

—

Michigan 6s, 1878-79..

do
do

...

—

new..,,
new fle. dbt

6s,

20

-

Louisiana 6s
do
6s,

l

....

-

100
98

;

Kentucky 6s

-

-

7s, new
7s, endorsed
7s, gold.
Illinois 6s, cou., 1877. 95
do
6s, cou., 1879. 95
do
6s, war loan.. 95

Indiana 5s...

“ 13

-

97
65
82
77

6s

Georgia 6s

do
do
do
do

•

..

15
15
15
do 7s, M. O. & R... 15
do 7s, A.Cent, RR. 15
California 7s
110

.,

•

8s, 1888

uo 8s, M.&E.RR.
Arkansas 6s, funded,.
do 7s, L.R. & Ft.S
do 7s, M. & L. R..
do 7s,L.K.P.B.&N0

do
do
do
do
do
do

•

25"

-

Low.High. Low. High. Low. High.

io‘

-

11%

11%

-

ii%

11

-

ii

06

10%

-

10%

10%

-

ii%

11%

-

-

35

-

-

11%

34
....

38
9

4i%
9%

41
10

•

-

45
1-1

41

-

11

-

42
•

n%

1875.
SECURITIES.
Alabama 5s, 1883
do
5s, 1886,'...
do
8s, 188'i
do

8s

January. February

40
40
48

1

do
do
do

(is

6s

7s,

-

41%
41%

36

-

38

36

~

o7%

48

.

-

....

37
37
42

-

-

-

-

10
10
-106
-

-

-

.

103
80

7s, endorsed

88%
►2 '

7s. arold

72%

new




23
10
15
10

.,

-104
-

-

-

-

25
10
10
10
10
10

-

-

25
10
10
10
10
10

25

104
81
83
90
91
86
86
72%- 74

-107
85
- 93
89
- 83

105
85
93
89
81

107

-1(7

37

-

42

41
40
20
9
9
9

-29

-

10

8-9

110
110%-il3
112%-112%

112

37

8-8
8-10
8-10
8

39
33
45
42
25
10
10
10
10
10
-115

-

__

.

Georgia

-

-

’26'

9
9
9
do 7s, M. O.& R.R.
9
do 7s, Ark. C. RR..
9
California 7s:
105
do
7s, large..

Connecticut

April.

May.
JUTMB.
July.
August. Septem’r. October. November December
Low. High. Low. High. Low. High. Low.
High. Low. High. Low. High. Low. High, Low. High. Low. High. Low. High. Low.
High. Low. High,

188K

Arkansas 6s, funded.
do 7s, L.R. & Ft. S.
do 7s, M. &L. R...
do 7s,L.R.P.B&NO

•

March.

-112

9
9

-

-

-

-

33

-

38

-

40

-

-

-

-

-

-

-

-

26
11
11
It
11
10
112

-

86%- 81
97
90
88

-

-

-

98
93
91

-

28%

12
12
12
12
11
-117
-

-

_..

-103
- 86
95
90
«7

38
38
42

1C7 -108
88-83
9S - 98
93 - 93
90

-

91

32
33
33 - 33
35 - 35
31 - 33
28 - 30
17 - 17
12 - 17
12 - 17
7-17
12 - 17
17 -117no -no
105 - 08
68 - 69
91 - 99
93 - 95
93 - 94

33
33
33
35
30
15

15
15
15
15
lil

-

-

-

-

35
35
35

35
35
35

-

-

-

35
35
35

35

-

3)

-

35

-

35
35
35

31

-

31

-

30

35

32
16
16
16
16
16
-112
-

-

-

31
31
30

30
30

-

-

30

-

80

25
25
25
25
34
10
10
10
10
10

30
30

—

30
14
14
14
14
14
113

-

33%

16
16
16
16
6
-114
-110

n

-

’10

-

-

35
15
15

30

-

....

-

30
....

32
9
9

-

-

35
10
10
10
10
10

-

-

-

-

-

-

30
30
27
25
38
10
10

10
10
15
9
10
10
15
9
10
10
15
9
10
115 -115% 1 ;5 -115
114 -115
IIO
115 -115 1115 -115
114 -115
104 -105
104 -101% 105 -105% K’5%-107*
106 -107
106 -no
89
90
89
96
91 - 93
92% 94
91
HI ‘ 92
92%
96% 98
98 -101% 100 -101
98% -101
101 -101% 102 -104
>2
96
96
! 7
94% 95
98 - 9 >
98% 98% 99 -100%
14
99
cos'
M»S/ _*n/>
98%-mo
95% _«fft
99
901/
-

-

-

-

-

...

-

-

-

....

-

....

-

-

-

...

-

-

-

....

....

-

....

....

-

-

-

-

-

-

-

....

-

•

•

•

•

....

-

-

-

-

-

-

-

,

-

-

-

_

-

*50

STATU

SECURITIES.

Pr;ce§ of State Securities for
January. February

CT?PTTDTTTI3,C2

March-.

April.

May.

1875—'Concluded).

J UNE.

July.

oiliU U ixl 1 iiliOt

Low.High

UlihoisTs, coupT,

io77 99
6s, coup., 1879 99

do
do

War loan
Indiana 5s

-100

-100

do 8s, levee
do 8s, levee, 1875

-

-

-

-

-

24

.

27
28
26
27
25
27
27

-

24
21
21
25
21

..

ICO
I 90
100
30
25
25
27
23
27

-100%

21%

do
ts, new
do 6s, new, 11. debt
do 7s. penitentiary
do 6s, levee

1100

-HO

-

Low

High
-100
-100
-100
-100
-100
30
20
29
23
29
27

100

-100**

99
99
100

Kentucky 6s
Louisiana Cs..

Low

28

‘00
100
100
100
101
30
30
27
27
27
25
29

-103
-103
-105

104
103
105

-

-

-

-

-

-

23

-

High Low.High. Low.High Low.Hgh
101
101
i 01
101
lot
35
35

-101
-101
-102
-101
-101
30
30
30
30
30
30
-

-

101 -101
101 -102
102 -103
-101
101 -101
-102% 102 -It 2%
37
37
37
37
3 >%-37
37
36
37
37
3P.
37
37
37% 37
25
25
28
37
37
38

-

-

-

30

-102%

101
1(2
36
36

-102

-

-

•

-

-

37

-

36
36
25
37

-

-

-102%
37

35%- 36%

-

-

99
99
99
100
32
33
82
32

-1(2%

-

-

-

37
37
35
37

-101
-101
-ICO
-1C2
3i>
36
35
36

_

ioT

6s, 188 ■(....
do
7s, 1890....
Missouri 6s, due 1875.
do
6s, due 1876.
do
6s, due : 877.
do
6s, due 1878.
do
6s, due 1879.
do
6s, due 1880.

101
104

doT

do
do
do
do
do
do
do

f’dgbds. due’94-5
l’g,due ’8;-91 incl
Asyl’m orUn.%2
H.&St.J.,due ’75
do
do
do

due ’76
due ’86
due ’87

-102
-102
-105

98%-lOQ
97 % 99%
-

canal, ’75
canal, ’77...
canal, ’78....
gold, ’87, reg
gold, ’87, cou.
gold loan,’83.
doGs gold loan, ’91.
do 5s, gold loan,’75.
do 5s, gold loin,’76.
N.CarolinaGs, o., J&J
do Gs, o., A. & O...
do 6s, N.C.R., J.&J
do 6s, N.C.R.. A&O
do 6s, N. C. R., cp.
off ,J. & J.
do 6s, N. C. R., cp.

6.

off A. &

do 6s,
do 6s,
do

fdg act, ’66..
fdg act, ’68..

6s, new, «T.
do 6sj new, A.
do 6s, sp. tax,
do 6s, sp. tax,
do Hs, sp. tax,
Ohio, 6s, 1875

& J..
& O.
cl. 1.
cl. 2.
cl. 3.

6s, 1 81
6s, 1886
Rhode Island. 6s
S. Carolina, Cs
do 6s, J. & J
do 6s, A. & O
do 6s, fdg act. ’66
do I’d c.’89, J.&J.
do I’dc.,89,A&O.
do 7s of ’88
do non-fundable

Tennessee, 6s, old....
6s, old,

-

-

-

-

-

-

33%- 36
25

-

34

-

-

ex cp

-

.

-

,

,

-

-

-

-

-

-

-

-

-

-

-

110
110
110
113
113

-110
-110
-110
-113
-113
_

113
108
108

-113
-110
-110
25% 27
25
27
53
55%
53
55%
-

-

-

-

36

17
17
1;

-

-

-

-

35

-

35

-

20
18
16

-

19
15

37

-

-

13

-

,

.

-

3

-

-

-

-

-

—

-

-

-

-

-

-

Virginia, 6s, old

-

-

-

-

-

-

—

do 68, ex mat. cou
do 6s, cons. 2d s.. J

do,.6s, deferred...

.j

Dist. of Col.,3-650'. 21

-

-

-

-

-

-

-

-

-

.

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

tfo 68, new. ’66
do 6s, new, ’67....
do 6s, consol

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

—

-

-

1'4

-

20
20
50
50

37
37

-

-

12%
11

12
11
4
4
4

11
1)

-

.

-122

20 - 20%
20 - 20%
50 - 53
50-53

20
20'
50
50

38-38

33

38

-

12

-

33
12
10
10
10

31

12%
n%- n%

-

-

-

-

12
11

-

-

112
112
- 112
• 115
115
- ■115'
- 116
-

37
10
10
30
10
1
1
1

35
10
10
10
10

-

12

11%

-

-

38
10
10
11
11
1

-

-

o

10T3*

104
307
104
28

23
27
23
23

-

-

-

-

-

47%- 50% 50%- 53

49%

-

-

-

-

96%
33
34
34

-

-

-

-

53%
54%
40
8
70.'/

-

-

-

-

-

16
16

36%- 40

.

39‘

38%-

12
-1( 3
—i05

10
■! 3
06

-109

ms

-

4i%
10

-

-105
-106-110

-li4 *

114
114
114
115
115

-114

118
119
120

116

-117
-118
-115
-120

-110

-119
*119
-120

45-50
45-50

16 - 17%
16 - 17%
40 - 45
40-45

15
15
50
50

35

30

30

30

35

30 - 35
9 - 10
8-10
8-10
8-10
3
3%
3 - 33*

-

-

-

n%

-

10

-

11
10

-

-

3%

-

'

-

3

3

-

-

-

-

19
19

35

-108%

30
35
9
9%
8
8
8
8
8
8
3
3%'
3
3%
3
3%
If 2 -102%
05 -105
07 -103
106 -103
31
31%
30 -31%
30 -31%
30
32
30
32%
30% 32
31
33
-

-

-

-

-

-106
27
-

-27%
27%
27%
27%
27%
-

-

-

-

-29
5

-

5

4\

35

9%

8%
8
8

-

-

3%

-

3

-

3%
-102%
-

-105

-108'
-108

35

-

35%

-

35
35
36

-

-

-

-36%

4%

-

-

54%

50%

74

7i
50
50
97
33
34
34

53%
53%
96%
34
34
35
60
55
42

71%
50%
50%

-

-

-100
34
34
34

-

-

-

54 Vi

...

47%- 52%

-

40%
8%
71

5i% '47*

-

48*

-

'40*

46

-

47%- 52% 47%- 50
4»%- 50% ■56'
50%
47% - (2% 47%- 49% 49**- 51
50
50%
!02 -103
103
104
99%-r’3
100 -100
35
38
30
39
40'
37% 373*3<%
-

-

.

-

-

35
35

-

-

37',

-

37%

37
37
62

-

-

653*
00!*
48%

-

-

40

39
39

-

•

-9

67 *

■

-

40
65 V

60%
4'%
9
65

-

-

-

-

-

40
40

46
46

-

49X

493*
99%-101
39
40%
-

-

40
40

.

.

f

_

45
45
100
35

46

-

-101

40 %

37

66%
44%
9%
71%

67%- 71
43
46%
3%- 9

-

-

-

-

-

68

72

-

-102

37-38

40
40
71

-

-

61

100

-38%

-

67

37%- 43%
37%- 43%

-

46%

-

36%
408* 36%
69
69% 68%-. 69
64
63
63% 64
49
47*4- 49% .44**9
9%
8%- 9
-

«•

38

-

37%- 38
72

76

-

-

66 %- 69

8 §7G.
i
<f

January. February

SECURITIES.

Low.High.
Alabama 5s, 1883....
do
5s, 1886
do

26
26

-

-

26
26

n8 *
25% 25%
! do
26
26
1888
do
R92..
do
mns.
Arkansas 6s‘, fm ded
38
38
do 7s, L. R. & Ft. S. 10
12%
do 7s, M. & L. R.
10
12%
do 7s,L.R.P.B.&NO 10
12%
do 7s, M. O. & R. R. 10
12%
do 7s, Ark.Cent.RR 10
12*
Connecticut 6s
105 -1C6
Georgia 6s
92% 95

8s,
8s,
8s,
h«,

-

-

..

-

Low.

High,

.29
29
29

-

29

-

-

-

20

-

31
31
31

30%

Marcii.
Low.

ArutL.

-

-

-

-

34
34
33
33

33
33
33
a3

-

-

-

-

34%
34%
34
34

20

-

..

42'

-

-

4'!
14
15
15

43
15
15
15
15
15
-106
-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-




-

-

as
-12
12
12
-

-

-

.

.

.

•

.

..

-

-

.

30
12
12
12

-

-

-

.

33
33
33
33

-

-

-

-

..

October. November December

30
30
;o

31%

-

-

30

ro
30
30
30

30%

-

-

30
30

-

-

-

-

30
39
39
30

31
31
31
31

-31%
-

-

-

32
32
32

30
30
30
30

-

-

-

-

32
32
32
32

—

31
31
32

-

-

-

32V
32%
32%

31%-32%

—

—

_

45%

-

....

...

Settem’r

—

-

’78-79... >03 -103%
do
105 -105
6s, 1883
do
108 -no
7s, 1890
Missouri fis, due 1876. 99%
-100%
995/ -101 V
^ do fi<s duo 1877.

31%
31%
31%
31%

_

-

\

August.

__

-

16
16

-

Michigan 6

July.

.

-

.....

June.

_

30
35
18
10
11
18
10
11
16% 16%
10
11
15
16% 15
0
11
16% 16% 10
10
11
106 -106% 105
107 -no
93
95
94
(5
93**- 97
'aiL/ mas/
—103 vr
104 -106
do
7s, endorsed. 98 -100% 101 -101
101 -io-> k 502 -103
do
98 -101
7s, gold
102 -106% 1(5%-107
104 -105%
Indiana 5s
too -101
101 -101% 102 -102%
Illinois 6s, coup., 1877 100%-102
:02 -102% 102 -102% 103
-103%
do
6s, coup., 1879 100V -102
102 -102% 102 -lr2% 13 -103%
do
War loan
:00 **-103
102 -102% 102 -102% 103 -103
Kentucky 6s
102 -102% 102 "102% 102%-103
100% -102
Louisiana 6s
49
42 <! 43
44
44
45
453
45
do 6s, now
49
44
42* 43
44
45
43
45
do 6s, newfl. debt.. 40
44
42% 43% 44
45
45% 43
do 7s, penitentiary. 4*
44
44
42% 43
45
45% 43
do 6s, levee
40
43
43
44
44
45
45% 41
do 8s, levee
25
33
33
49
38
4 >
?>8
42
do 8% levee, or 1875 41
44
46% 43%
44
45
45% 43
do 8s
11
levee, of ll’le 10
14
10
18
IP
18
18
do 7s’ consolidated
-

May.

High. Low.High. Low.High Low.High. Low.High. Low.High. Low.nigli.
Low.High. Low.High. Low.High.

31
31
31
31

-

-

102
104
108

-103
-105
-1*0
100% -101
100V -101

-

-

102
.05

:08
101
101

-105 : 105
-110
108
-102

....

*07
•4
106
04

-108
(5
-107

103

25
8
8
8
8
8
10?
94
105
104

30
10
10
10
10
10
-109
95

-

-

-

-

-

-

-103

-

-

-107%

-105
-104%
104%-’05% 105%-107

-107
-112

-102

31
11
10
19
10
10
-107

25
29
10
11
10
Id
10
11
10
10
10
10
106 -106
91
95% 91
-104% 104 -105
-101
100 -102
-

-

-

-

-

-

-

-

-

-

-

-

-

104%-105

-

104%-107

—

25
10
10
10
10
11
1C6
91
104
100

29
11
10
10
10
10
-112

’01
101
101
101
40
40
40
40
40
40
40

-102

30
30
8
10
8
10
8
8
8
8
8
8
110 -no
91
92
92%
-104> 104 -105
-100
100 -mi
103%-104% 104 -105

—

-

-

-

-

-

-

-

-

-

-

-

-

-

-

a3
33
33
33

35
35
35
34
15
15
32

33
34%
33
34
33
as%
33
33%
15
15
15
15
15
17
30
25
30
5
6
3
8%
5
3
6
8%
5
7
3
6
5
7
6
3
5
3
6
7%
1*2 -113
no -1 2
5 4
93
?5
95
1(5 -106
ice -106%
102 -103
12 -106
106 -i06% 105 -106%
-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

..

103%-103%
103%-104
13
45
45
45
45
45
42
45

-103%
-

-

-

-

-

-

-

46
46
46
46
46
46
46

103
103
103

-103

100
-103% IOO
-103% 100
103%-104% 100
43
46
42
43
46
42
43
46
41
43
46
42
43
46
42
43
46
42
43
46
42
-

-

-

-

-

-

-

-100%
-102
-103
-101
45
45
'5
45
45
45
45

-

-

-

-

-

-

-

100
101

-101;

101

-101

101
40
40
40
40
40
40
40

-101

-101

-

-

-

-

-

—

-

42
42
42
42
42
42
42

e

-102V
-1’2%
-101
-

-

-

-

-

-

41%

41
41
41
41
41

41

10 %-102
102
;02 -103% 03
102 -103% 103
102
03
103
41
41
41
41
41
'41
41
41
41
41
41
41
41
41
41
41
4!
41
41 -41% 41
-

-

-

-

-

.

-103 V 103

-103% 103
-

42

-41%
41%
-

-

-

-

42

41%
41

-41%

.

.

.

-m
-104
-104
-104
41
41
41
41
41
41
41

-103% 103
-103% 103

-

-

—

„

.

37
37
37
37
37
c8
41

-

-

-

-

-

-

-

—

—

66%
10!
105

108
ioi%-ioi% 102
102

25
10
10
10
10
10
106
94
104
100

_

-

-102% 102%- 03

-101%

•

102

67%
-104%

65
103

-105
-(08

104
105

-

:

t
-

69*
*

-103
-105
-108

-102% 102%-103
_irv> i.

*

—

-

-

-

47'

.

-

-

52%

-

—

37% 3*3*
373* 37%
62% 63% - 65%
64% 633*57
58
CO
53
573* 57 %46
44% 44 V- 48
463* 46*9%
8%- 8%
8%- 6%
83*
74% 7 %- 73% 71%- 72
61

-

60%

9%
70%

50%

-

-

60 V- 63 V 55
100 -102
101
104 -105
103
no -no
no

60
-101
-

-103
-no

100%-100% 100J*-100%

102%-ia3V 100

-101

mnv-101

57%- 58k 58
60%
lDl -101
101%-102%
103 -;05
105 -106.
ro -no** no -110%
101 -101k 101%-101%
101
-101V 101V--102
-

56

-

—

-

.

.

«

59% 52%- 58
103 -104
102%-l 03
105 -106
106 -106
110 -no
112 -114
....

102

-

-

—

..

.

...

-102 V 102'

•

35

-

-

32
32
33

-

-

-

-

-

-

32
32
32

-

-

*

32**- 35%

-

-

48*-

-

-

-107
-108
-108
31
- 30
30
30
3»
30
31

-

-

8
7
7
7
3
3
2
!00
102
105
106

•

16
16
55
55

-

30

-

-

05
07
05
2^
28
28
2-1
28
2?
29

35

-

-

23*- 3%
01 -1023*

-102
-104

5i

-

...

65
4!)
49

-

38-40
38 -40

iio'

-

2
101
104
*07
104
26
27
26

29
6

-

-

-

-

115

-

25

-

-

-111

37%
37%

115
115

-

25
25
26
5

-

-

-1073*

3' Vs

-

36
10
103
105
107

-1(3

li6’ -12i‘

-112
20
20
50
50

2%
2%

1

-

—

-

-114%
-114% 120 -120

114**-118
118**-121

88

-

37
10

-

-114
-114
-114

35

-

36

-101
-101
-101
-101

113
113
113
113
113

-

-

37-38

-

-

-103% 103**-104
- 373a
38%- 40
- 37%
38 - 40

'

38

51
50

-

-

-

-105

106%:-! 07#

19-20
19-20
50-50
50-50

20%

20%

-

36

36%

103%-104
103%-104
103%-104

•

-

-

-1(2%

101
101
101
101
101
101

-

36
10
102
104
106

ID

-

103
36
36
36
36
36

3b%

-

-103
-103
-103

■

-

-

10
02
1(4

103

-1( 3

36-36

36%

-

112
18
18
50
50

-

-

-

1(2
102

102V-1C3

3fi%
36%

-

-1C3
-103

101% -101% 101%-102V
1013* -101% 101%-102>, ioi% 102*'
101% -101% 101.%-1028. 01% -102
101% -1013* 101%-1028 •01* -102%
-101% 101% •1013* 101%-102*. 02 -102%
-101% 101% 1013* 102%-1028, 02 -102%
101%-102
102% 101%-103> L02V -102%
101% 101% 101%-102
1013* 101%-1023* 102% -102%
101
-101
103
101%-101%
101 -101% 101 -102%
100% ■1003* 101 -101%
101% 101 **-101 v,
101
100%- ■1003* 101 -101%
101 **-101 % 101% -162”
1003* -1003* 101%-101%
1013* 101 -101% 101% -101%
1003* 1003* 101%-101%
101% 1Q1 -102% 101V -102%
107
105% 105% 106 -106%
107 -107
103 -107%
107
105%- 1063* 106 -106%
107 -107%
106%-107

n - li
n
;0 - 10
10
3-4
4%
4\
2%- 3
4
3 - 3%
2'*- 3
4%
4
4
3 3%
3%
2%- 3
101 -101% 101% -12
9) -102
99 - (00% 100%K4 -105
101 -105
10 5 -105% 02 - ‘05
04 105 -lf 8
107 -108
106%-108
i03 - 107
105 105 -1C7
1(7 -107
'07 -107
103 - 10S
104 31
33
33
33
33 - 34
31 - 35
27 33 ' 32% - ' 4 V. 32 - 35
31*/, 33% 31
27 31
32
32 - 34% 33 - 34% 27
32% 31
31
32
32 - 84
as - 31
32% 31
27 *’
31
82
32 - 84
as - 34
2% 32
27 31
33
31
:;2
32
34
33 - 34
.30
33
31
32
33 - 35
35 %- 35% 29' 6
6
6
6%
5%- 5%
5%- 6%
5%65
74
71
71
-

November December

1(2
36
36
36
36

36

-

35

-

iu -ii4 ‘

-

..

-120*

120

-115%

1(2
102

-

35
12
-103
-104
-107

110
110
110
115
115
114
115

120**-120% 118% -118%
120

-102
-102
-1(2
-1(2

85
35
35

-

102
104

-no
-no
-no

120%-120%

12%

-

.

118%~118%

38
13

-

.

-103

no
no
no

38

-

-

11

-

-115
-116
-117
-120

October

85%- 36
35
36%

100 -103
mo -105
106
100 -100** 100.3*
100 -100% 100>*
100 -101
1003* -10034
100 -101
100% -100;
100 -101
100% -101
100 -101
100% -101
99%-100% 101 •1013,

21
21
50
50

-

12%

-

no
112
112
116

H4%-114%

3°%

-

12
10
10
5
3
3

-114% 113

39

-

37

3
3%
3
2%
3%
3%
3
3
4
2%
100 -100
99
100 -101
99%
103 -104
103 -105
105 -105*4
103 -105
105 -107
106 -106%
102 -103
104 -105
:04 -105
31
34
30
33
3i
81%
31
34
30
31
29
30%
31
33
30 5 30% 29
30%
31
32
3)
30 -v 20
30
31
32
30
30
29
3)
30
32
30
30
20
30
31
32
20
30
8
7
7%
7*4
7%
7%
62
63
63
65
64% 78
47
54
45
47
47 -47%
(4
77V 02
67
63
45
54
45
4<% 47% 47%
45
4*
46
52% 44
47
95
98
96% 97
92% 96
31
34
30
31
32
33
3!
35
3)
31
32
33
31
31
30
30
32
34
55
56
5 i
57% 57% 59
53
54
53% 52% -54% 53
35
36
11
1 %
9% 10
•

118

50
50

-

-

37

37
10
10

-

13

-

2%

—

....

50
50

37

-107
-110

.

102%-102% 99%-101%
102%-102% 100 -101
102%-102% 100 -100%
102%-102% 100 -100%
102 -102% 100%'-100%
100%-102%
105%-108% i05%-106%
108%-109 105%-106%

-no
-no
-112
-120
-120
-117
-120

20%
20%

-

35
10

36%
.

-105*4 100

102 -102
102 **-102%

-102
-102

no
no
no
117
117
117

-no
-116
-116
-116
-116
-114
-no

20%

-

30
10
10

-no
-no

20

-

-

-100

no

-

-

-109

101
100
101
101

-100%

110
110
no
115
115
115
115
no

-

30

37
19
15

-110
-110
-110
-114
-114
-114
-114
-110
-110
20
20
52
52

_

14%

-

110
110
110
114
114
114
114
110
110
20
15
45
45

-

37%

-

-

is

-110
-110
-110
-114
-114
-114
-114
-110
-110
27
27
58
58

37

-

36%

106%-106% 106%-107

110
110
110
113
113
113
113
110
110
27
27
52
52

102
103
105

100
100
101
1C2

25

—

-105
-106

-102%
-101%
-101
101%-102%
-101% 101%-102%
-100
100 -101%
-100
101%-101%
106% -108% 108 -108%
106*3 -108% 108 -108%

-

-

-

do 6s, new, ex cp
do 6s, new series
Texas 10s of 1876....

-100
-100

-

-

105
105
107

-101% 101%-102% 102%-103
-101% 101%-102% 102%-103
-100% 101 -101
102% -103
-100% 101 -101% 102%-103
-100% 101 -101
102%-103

-

-

—

-104
-105
-no

-

-

do
do

do

-10£
-106

-100% 100%-100%
-100% 100 -100%

-

.

.

...

103
103
106
100
100
99
99

-(01
-102
100 -101
101 -.02
33-35
33 - 36
33-33
33 - 35
33-35

-

....

-104*

97 -100
99
99% 99
95
95
98
99
98
98
95
95
98
98
97
97
99
95
95
99
97%- 98
93 J*
95
94
96
96
96% 95
94% 97
961* 97% 96% 97% 98
93% 95
96
95% 95% 95* 96
99
100
100 -100
100 -100
100
97
100 -100
99% 99%-100
100
94
95% 94
95% 95% 95% 96
94
96% 96%
95% 95% 95% 96
105 i* -106% 106%-106% 106%-107

N.York b’ty loan,reg.
do
do
cou. 105%-106%
do 6s,
do 6s,
do 6s,
do 6s,
do 6s,
do 6s,

102
102
105
100
100
99

100
100

-

__

Michigan 6s, ’73-‘79.

Septrm’r

Low.High. Low.High. Low High. Low. High. Low.High. Low.High.
99 '-100
luu"~10r 100 -102 lC2~-l71T IcT-ioT 403%-ioi~

-H'2%

101
102

-

-

35
35
25
35

-

10 i

-

35

-

-

-101
-1G1
-h 2

August.

•

•

'-102%

•

STATE

SECURITIES.

SI

Prices of State Securities for 1876—(Concluded).
January. FtSBRU

April.

March.

RY

May.

June.

July.

August.

Septbm’r

October

November DecemSer

SECURI TIES.
L

>w.High.

Low

Low H

High.

gh. Low. High. Low. High Low.H gh

Missouri 6s, due 1879 99%-101% 100%-101
101%-103
do 6s. due 1880
100 -101V 100%-101% 102%-103
do f’dg bdsdue ’94-5 102 -103*4 102%-103
do IV.due V2-90incl 101$4-102& 102%-102%
do Asylum or Un.’92 101%-103% 102 -102%
do H.&.St J.due’76 100 -100% 100%-100%
do
due ’86 100*4-102
do
101 -102
do
do
due ’87 100%-102
101 -102

N. Y.

do

coup 104

canal, ’77....
canali *78.-...
gold, ’87, res.
do„€s, gold, ’87, cou.

-104

,

'

—.

-104

-104%
-104%
103%-103%
101%-102%
103 -103%
103 -103%
!04%-104%
104%-104%

-103%

101%-102

112
114
115
15
1i5

*

•

1’5
115

—

.

-

.

w

.

do 6s, go’d loan, 83 115 -115
do 6s, gold loan. ’9 116%-120
do 6s, gold loan, ’02
do 6s, gold loan, ’93
do 5s of ’76

-119
-119
-120

115

_

—

-115

116
120
120
120

116%-120

—

—

~

...

115

-116
-120
-120
-120

—
.

—

120

_

—

_

53-55
53-55

17
17
54
54

-

15 - 17
15 - 17
60 - 61
60-61

17% 17%- 17%
17% 17 - 17%
55
55
59%
-

55

55

-

59%

-120
-118
-118
-10
15
- 15

110
15
15
♦ 0
60

•

15%- 17%
1536- 17%

do 6s, old
A&O
do 6*, N.C R..J&J
do 6s, N. C. R. A&O
do 6s, N. C.R ,coup
off
.J&»
do 6s. N. C R.,coup.
off
A&O

_

118
118
118

-120

_

N.Carolina 6s,oldJ&J

-

..

112
113
114
114
1*5
118
118
118

-119
_

iio -iio

60%

-

61

-

-112
-114
-115
-115
-115

118

...

.

-112
-113
-118
-114
-118
-121
-121
-122

106%-108 106%-106% 105 -107%
-108% 107 -108^ 1* 5%-106% 105 -107%
107 -108
-108
104%-105% 105 -107
^
100%-100%
105 -106% 105 -108
107 -108
106 -108
107’ -108
105 -106% 105 -108
106 -108
102%-i 02% 102 -102% 102%-103
1C0%-103%
102%-102% 102 -102% 102%-103 103%-1C4%

117
.17
117

15

15

-

15

14%- 15

61%
61%

60-60
tO - 60

-

-108

—

.

.

115
115

-117
-117
-1*7

12)
ISO
120

106
106
106

-12)
-120
-120

.

-

....

•

-115

115

115
116
118
118
118

15

-

14
14

13
14
58
58

14
14
58-60
58-60
-

-

__

-lis

115
115
t!5
120
120
120

115

-115
-115
-120
-120
-129

15
15
60
60

16%
16%

-

60
60

-

....

_

-115
-116
-116
-118
-120
-120
-120

..

—

....

120
120
120

-115
-115

115
115

-117

-

..

.

-125

120
120
!20

-120
-122
-125

-125
-126

_

-

14
14
60
60

_„

...

101*4-105% 105%-106% 104 -105% 105%-106%
105%-105% 106 -107 V 104%-105% 106%-107
104%-104% 105 -106% 100%-105 105%-106
102 -102% 102%-103% 100 -100% 100% -101
104 -105
105%-106%
104%-106% 104%-105
104 -105
104%-106% 104 -105 105%-106%
104%-105% 102 -105% 102 -102% 102%-102%
105%-105% 105%-i 05% i02 -102 V' 102 -102%

104
-104% 104

102%-103%
102%-104
104%-104% 104%-104%
104 -104% 104%-104%

bounty loan,reg 103%-104

do
do 6s,
d > 6sj
do 6s,

103
103
103

Low.High. Low.H:g-i. Law High. Low.High. Low.High. Low.High.

.

-

60
60

-

-

16%- 18
16%- 17%

18 - 18%
18 - 18%
60-62
60-61

16)$
16%

-

__

58-62
58-61

tlH
1

40

35 -42
8-10

do 6s, fund’g act,’66

40-42
10 - 10%

do 6s, fund’gact,’68
do 6s, new ...J£J
do 6s, new
A&O
do 6s, sp. tax, cl. 1.
do 6s, sp. tax, cl. 2.
do 68, sp tax, cl. 3.

44%- 46% 42-42

40

42

45-45
10 - 11

45%- 46

44%- 46% 42-42

10 - 11
7-7

10
6

40-42
8-8

-45

9%- 11

9-9

7-8%
2%- 8
2%- 2%
2*4- 2%

8%-

8%

8%8%-

3

3y

3-3

2%

2%-

2%

2%-

If 3
105
105

-107

-113
-109
34-36
34-36

J&J
A&O

-

Texas iOs of 1876.

101
36
37

Virginia 6s, old
do 6s, new, ’66

-102
- 37

‘67
consol
ex mat. coup
consol., 2<jLs
deferred.

-106
-111
-106

35%- 37%
35
37%
35 - 37)4)
35
37%
-

35-38
35 - 38
36-40

-

74 - 76
67 - 69%
45-46

7*/,- 8%
7-8%

9
8%

2%- 3
2%- 2%
2%- 2%

2%
2%

33%- 45

35-35

42
42
100

-104

75

-

36

32*4-

31 -31
30-31
31 - 31
73 - 73%"
66 - 66%

34
-34

33
30

34-37
34-37

35*

-

76

74%- 76% 73%'- 76
< 8%- 69%
6'i
69% < 6%- 69
42-46
37%- 4!
41%- 41%
9-9
8%- 9%
8%- 8%
8%- 8%
3-65s, 924 66% - 69% 71% - 74
70% - 72% 68%- 70
-

-

of Col.
do small bonds....
do registered

-

1

....

...

-

....

8%- 8%

69 - 71
69-70
69 - 70

-

.

—

...

—

11

-

.7%

-

....

-42

1%

1%

1-1%

6-6
6-6

XXX-

.

....

1%

32%- 33
2-2%

32%- 33
2-2%

2-2%

43-49
43-49

-

-

46 Vi
-100

46

-

-

44%- 49
44%- 49
46% 44%- 49

44%- 49

25

26-28

-

....

....

-

..

...

41-42

40-42

9

9%
9%

-

-

7-8

1

-

-

7%

7%1%1%1%-

1%

-

8%- 10
8%- 10
7-8%
7-8%
1%- 2
1%- 2

9%
9-9)$

6.
6

-

1%

-

2
2
2

.

-107

-

-

-

-

-

-

-

-

-

25
26
26
77
67
33

27% 22 -26
25-28
27%- 28
-

23

-

26

75 %- 75% 75-77
74% - 75
66%- 67 ‘4 65
65% 65% - 66
66%- 67%
31
32
33
38
32
33% >0
32%;
5-5
5%- 6%
5%- 6
5%- 5%
68%- 72% 71 %- 72% 70%- 72% 71%- 72
71
71
71X- 72

....

40

-

73%- 75
-

40-42

_

27-28
26-28
26-28

27% - 28

-42

-

__

i7%- 30
27%- 30

40

1-2
106 -107
106 -10«
-112% 112 -112% 110 -113
110 -111
-110
110 -110
32 - 37
32% 35-40
32 - 35%
32% 33%- 37
32
32 - 35%
33%- 37
32-36
32
33%- 3S
40
45-50
40-45
40
45-50
40-4'
34 - 37
35-37
33
2 - 2%
2
2-2%
45
45 - 47
40%- 43
40-43
43%- 44% 44-44
44
44
44 - 45
40 - 42%

106 -107
113 -114
106 -109%
32-33
32-33
32-33
32-33
40-40
40-40
33 - 33%

44%- 46%
46%
46% 44

40

-

40
8
8
5
6
1
1
1
107
112
108
32
32
32
32
35
35
32
2
44

40-41
8-8
7-8
6-6
6-6
1 - 1%
1 - 1%

8

6%-

-

40

40-40

105 -107
107 -107
112 -113% 113 -114
105 -107
107 -107
32 - 32% 32-32
32-33
32-32
32-32
32-32
32-32
32-32
40-45
40-40
40-45
40-40

43%- 46%

.

33

-

6-7
6-6
1-1
1-1

1-1

30-34
40-45
40-45
33-34
2 - 2K

33%- 34
33% 47

-

35% - 37
37%- 38
37%- 38

6%
6%
6

-

1-1
2-2
1-1
2-2
10 8 -109
105 -105
108 -111
108 -113
109 -110
10 .8 -108
33 - 34% 30-34
30 - 34
33 - 34
30 -34
34-34

105 -108
108 -111
109 -109
34 - 36
33-36
33 - 36
33-36
33 - 37
33-37
83 - 36
3-4

105 -105
103 -110%
106 -109
35 - 37
35-37
35-37
34-37
36-40
36 %- 40
36-38

11
7

10

-

5%5%-

6%- 7
6%- 7
2 - 2%

7-8%

2-2
4%- 4% 4-4%
42
42%- 42% 43-45
46% 42-43
41-45
40%- 41
40%- 41
40%- 43
41-43
42% • 45
40%- 41
40%- 41

103

38%
37%- 38%

tis. new,

2%2%-

-

-

9-10

9%

-

105
110
105

-

6s,
6s,
6s,
6s,

45%- 46

9%-

33%- 3*5
fis, fund’g act,’66 34
36%
land c.,’89..J&J 34-37
land c.,’89. A&O 34
37
7s of ’83
35
38*4
non-fundable...
4%- 5
44%- 46%
Tenreseee6s, old
do 6s, new
42%- 45%
do 6s. new series... 42%- 45%

do
do
do
do
do
Dist.

45-45

7-9

do 6s, J886
Rhode Island fs.
J3. Carolina 6s
6s.
6s.

-42

7-9%

Ohio 6*, 1881

do
do
do
do
do
do
do

42-45

35-42

.

-

....

-

-

...

72

-

72

71

-

71

-

-

-

-

69

-

-

34

6%
70%

-

5%

30 - 31
30-31
30-31
77 - 78%

30
30
30
78
68
35

-

t7%- 69%

66%- 68%
‘c5%
6%- 6%

34%- 34%
6
6%

-

-

68

-

-

—

.

•

29-30
29 - 30
29-30
77-78
66 V- 69

•

,

69

67 %- 69

-

....

—

70%

-

...

....

(

-

....

69

i f»rr.

January. February

May.

April.

March.

August.

July.

June.

November December

October

Septrm’r

SECURITIES

Low.High.

5s, 1886:
8s, 188a.
8s, 1888

...

8s Mont.& Euf.RR.
8s, Ala & Chat.RK.

8s of 1892
8s of 1893
A rkansas 6?,

funded

7s, L. R. & Ft. S....

;

78,
7s,
7s,
7s,

32
32
32
32

....

Memo. & L. Rk
L.R. P. B.&NO
Miss. 0.& R.Riv
Ark Ceut. RR..

Connecticut 68

G.orgia 6s
7s, new

78, endorsed
7s, gold
Illinois 6s, cp., 1&79..
War loan

Kentucky fis

Loais’aua 6s
New
6s, new floatV debt
78. penitentiary

6s, levee ...;
8s, levee
8s, levee of 1815....

-33%
31
31
33

-

-

-

33
33
33

34

-

•

-

37
37

~

-

-

40

....

•

15

-

-

-

-

-

i7

15
3)
10
10
10
10
10

-

16
25
7
7

7

7
7
,109 -110% 110
95
96
93
101 -104% 105
101 -1>)2
103
103 -104% 105
10) -10t% 101
10)%-101% 101
too -102
101
49
35
37
40
35
31
4)
35
37
40
35
37
49
35
37
35
40
37
35
40
37
-

-

39% 39%
39% 39%
39% 39%
39% 39 $

-

-

•

15
15
26
5
5
5
5
5

35%- 37

35

-

...

-

•

-

33
38
33
38

35%- 37

34

-

35

34
34

-

-

....

«_•

•

31

-

-

-

-

-

-

-

-

-

-

17
17
23
10
10
10
10
10

17 - 19
17 - 19
25 - 28
8-10
9-10
9-10
9-10

93%

•

•

20
20
25

93

-101%
-102

-102
40

-

-

-

-

-

-

-

-

-

-

-

-

-

-

40
40
40
40
40
40

•

••••

103
106
101
101

•

-

-23

-2)
29
28
5
-

-

-

8%

-

5

-

5%

-

5
9-9%
-111% 110 -110% 110 -110
-102

95

-104
-107
-102
-102

104

-102
-103
-104

106%-103

102
102

-103
-10!

-

39
38 - 39
38 - 39
83 - 39
35 - 39
38-39

39
34
39
39
49
39

-

-

-

-

20 -21
2)
21
25 -25
4-5
4 - 5
4-5
4-5
4-5
110 -113
93 -102
-

Hs, if-83

7s, 1890...

Missouri 6s, due 1877.

50

-

59

6s, old, A. & O
6s, N.C.RR., J.&T.
6s, N.C. RR.,A.&0.
6s, N. C. RR., cou
pon off.. .J. & J
fis, N. C. RR., coupon off.. A. & O.
fis, funding acv, 1366




-

-

-

-

-

2) - 21
2) - 21
15 - 29
2-5

2-4

5

-

2-4
110 -110

56%- 63

60

-

63%

-103
-103

103
103

-103% 103
-

43

-

43

-

43
43
40
44

-

-

-

-

45
45
50
50

48
44
45

76%- 88%

64%- 74%

-108

-lot
-101

107
101
101

-101
45

42
42
40
45
40

101
49

-

45

-

40
40

100
-103% 109
109
-106
-47
45
45
-47
40
-40
40
- 47

49

49
40
45
40

-40
-40
- 40

-

45
40
40
40

-

40

-

40
40

-

-

82

-

.

101
103

103

-

-

-

-

75% - 79%
-101

-103% 100

20%
2)
23

6*

6*4
5-6%
5-6%

5
-110

5
110

-

33

-

38

20
20
15

•

20

-

-

-

-

-

-

-105

-H5

110

-

80

•

-

-

-

-

-

-

-

-

84%

-

-107
56
55
65
56
55
55
55
5

53
53
53
53
5!
53
53

-

-

-

7

-

7

-

-

-

7
7

-110

99%- 99%
-109

108

-

-

-

.

t

-

-

-

-

-

_

56
66
56
56
56
56

—

81 %- 86%

85%- 87%
84

-

-

54

-

83
102
104
103
101

-

55
55
55
51
54

-

-

-18
56

103
55

-

5

-101

-101% 101

-

-107
-1C7

102

86

-

-

10i%-108%
108 -108%
101*4-102
102%-103%
101%-102% 102%-103%

53
53
53
53

-

5
21
21
27
6

-

108

99

-

....

•

.

-

106%-108

53

-

8f%
80%

-

-

5
20
29
25
4
4
4
4
4

..

22
21

-

105
105

—

78*4- 82

.

98

53
53

-

*

80
101
104

-101%

•

-

-

53

-

-

....

•

•

20
20
22
4
4
4
4

-

77%- 78

•

-

53

-

•

*

30
8
8
8
4%
2%
8
4%
4%
8
4% 5%
4%
106 -107
107 -no

50-52
50-52

-

-

43
43'
43
43

-

-

•

20
-22
4
2%
4
2%

40-50
40-50

-

-

-

53
53
53
53
53

-

-

•

•

50-52
50 - 52
50 - 52
50 - 52
59 - 52

-

41
41
40
40

39 %- 42%
43
39
43
39
43
39
•

•

m

•

•

52
59
52
52
52

101
104
IC8

33%

-

99% 93%- 9s% 94% 98
-407% 106%-107% 106 -107
-107
103 -106% 105 -106%
-108
106 -108
104*/4-108%
101 -101% 101 -101
-101
-101
101 -101*4 101 -101%
tOl -101% 104 -104
-101

40-40

85%

33%
38%

-

-

-105% 104

-103

29
20
29
5
5

2-4

—

ioi%-i02

-103
101 -103
102%-! 03
-10)
103%-104% 1<*4 -104% 103 -104
112 -115
111 -l!3% 115 -115%
102 -102%
101 -101% 101%-102
99%-10l% 100%-101
-103
-104
-112

2-2%

104

104

38%

-

"

2%- 2%

2%

5

-

38
33

■

2%-

20
20
25
5
5
5

-

-108% 107%-108% 105*4-108

_

101
103
119

80

-

84

-102% I02%-102%

-105
105 -1C5
04 -105
-109
109 -110%
no -112
101 -101
-102% 102 -102%
1G2%-103
-100% 100%-100% t00%-101
too -100% 100%-101% 10l%-101% 10l%-102% 102%-102% 102%-103% 109%-100% 100%-101% 101 -101% 101 -101% 101*4-102% 102%-I0i%
106 -!03
108 -109
108 -109% 108 -106% 105 -106% 106%-105% 106%-107
104%-! 04% 104%-107% 106 -106% 105 -105% 107 -108
106J4-107% 106%-’07%
104%-!04% 104%-106% 105 -105% 105%-105% 106%-108% 108 -108% 105%-106% 106 -106% 106 -106% 106%-107
103%-104% 101 -106% 104 -105% 105 -105% 106 -107% 103 -108% 105 -105% 105 -105% 105%-ire 108%-106% 105%-107% 107%-107%
105 -106 Vj 106 -107
106 -106
106 -107% 103 -108% 105 -105 J4 105 -105*4 105%-106
104%-105 104%-107% 105 -106 105 -105
104%-105
103%-106% 106 -106 105 -106% 106 -107
104%-107 105 -106 105 -105 106 -107*4 108 -108% 105%-105% 105 -106
101 -101
10l%-101% 101%-101%
mi
101 -101
101 *-101W

6s, due 1878
Funding, due 1894 5
Long bonds. 1886-90
Asylum or Univ’ty
Han. & St. Jo., 1886
Han. & St. Jo., 1887
N.Y. bounty loan, reg
Coup
!
~
6s, canal, 1878
6sj gol 1, ’reg., 1887 114 -116'
6s, gold, coup., 1^87 116 -116
6sj gold loant 1883.. 115 -116
6s, gold loan, 1891.. 120 -120
6s, gold loan, 1892.. 120 -121
6s, gold loan, 1893.. 121 -121

N.Caro!ina6s,old,J&J

20
20
15
4
4
4
4
4

....

33 -39
38-39
38 - 39
33 -39

_

...

-

-

—

7s. sma’l bonds....

Michigan 6s, 1878-79..

-

-

-40
-40
- 49
-40

39
39
39
39

—

8s of 1910

7s, consolidated....

-

-104

103

42
41

-

41
41
41
41

-

107%-110
101 -192% 95
105%-107% 106

99

-

105
103
105
103

42
42
41
42

-

41
41
41
41

-107% 107%-109

98

-

39%- 41

39 %- 41
40 -41%
40 -41%
...

10t%-103 102%-102% 103
43
88
39% 39 -44
38

-

-

•

29
20
25
5
5
5
5
5

29
-20

-

9-9%
9-9%
9-9%
9-9%

-106% 106* -109% 106
-103
-105

-

—

"*

9-10

-111% 110
-

•

40
40
40
49
49

-

20

-

23

19%- 23

60
6J

42

-

-

-

-

i

.

105
110

-107
-112

101
110
100

-105

-lit

-103
-115

—

—

a

105

lis

120
120
121
122
122
21

-105
-120
-120

-120
-120

i29

-121

-122
120
-123
121
21% 16

-121

-120
-122

63% 67

43

-

-

,.

—

....

•

•

•

•

—

....

••••

69
68

16
65
65

49

45

-121
- 16
-

18%

-

67
67

-

48

-

"

-

••••

•

•

«

,,,

....

-

....

•

.

•

-

*".«*•

•

•

•

...

•

•

•

•

-

*

....

•

•

•

-120
-120
-129
-

-

18%
18%

120
120

-120
-120

18%- 22
18%- 20%

65
65

47-48

47

-

,

-120

65
-65

65

-

-

-

-

—

i-20

65
65

47.

120
-120
-120

47

119
119
119

20%
20%

17

67
67

65
63

-43

48

43

-

-

-

....

.

117
117
117
20
20
66
66

-120

67

119
119
119
17
17
65
65

-

48

-

48

-120
-120
18
-

17%- 17%
-

-

67

-119
-119

..

.

119

....

...

-119

ii8

-

68
68

118
118
15
16%- 18
16%- 17% 15
65 - 07
b6
66
65-67

47

-

43

43-48

43

47

-48

43
00

-43

48

!,

7

-119
-

-

17%
17%

••••

*

••••

-119
-119
-120
-

-

-

-

-

115
115
115

•

•

67

48

E0

43

50
8

-

....

-116
-116
-116
-

-

-

-

64%

50

19

-18%

-

-

75
75

-

55

-

55

»

42%- 45
13
17%
-

45

-

16

-

49.
16

45

-43

10

-r

14

47-48
11 -11

47

1*

-

r

49

12%

47
10
y

-

48

-

12%

8%-

9%

,

-

-

8%

-

-

•

-

•

-118
-118
-118

116
118
116
17%- 19% 15
17
19% 15
70
73
70
73
70
70

17
17
t7

•

4

-

-

•

*•

#

129
120
120
16
16
65

•

•

mm

—

.

—

-

-

—

.

120
120

2l%- 21%

63% 67
46

-

-

.

Alabama 5s, 1883.

High. Low.High. Low.High. Low.High. Low.High. Low.High. Low.High. Low.High. Low.High. Low.High. Low.High.

Low

54%, 50
11

JO

STATE

SECURITIES.

Prices of State Securities for
January. February

SECURITIES.

Low.High.
8.

1

-

l

April.

!

May.

Ohio6s, 1881......
6s, 1836..;.

*

1.

ill 11

-

110
38
33

-45

83

-

45
37

-

2#43

-

..

31
32
32
82

38

2%-

-43

43

-

44

43#- 44

-

-

31
31
31

-

33
32

-

32

-

6e, consol., 2d series
6s, deferred
Dist.of Col. 3-65s,1924

-

Small bonds

72#- 72%'

72^- 72%)

i

74

-45

1
43

43
43
-

81#- 82%
70#- 72
70#- 71%
44
45# 40
41%
5-5
5%- 6
73#- 74% 74#- 74%

...

-45

37-33

2%
43% 43%- 44

43
-32
- 32
- 33
- ^3

-

45-45

3

43
43

Registered bonds..

44
50
45

—

...

6s, old

45 ■*

43-50

series..

ex mat. coup




-110
-

2

-105
-110
-107
33
- 38
33

110
107
37
37
37
37

38-44

6s, new, 1866...
6s. new, 1867...
6s, consol......

6s,

104

113#-U4

7s, non-fnndable...
Tennessee 6s, old

Tirg nia

9%

-

1#-

7s of 18'8

new

8

.

LandC.,’89, J&J

bs, new

12# I

...

-

-

iy,

-

43%

-

8

October

-

3)
78
64
40

-

-

30

82%
70#

73%- 79%
....

-

7
6
6

7-7%

1
1
1
104
111
107
37

2
1
1

-

40

*

-

....

....

-

-

77

-

7

-

-

1

-

-

105
105
40
30
30
30
43
40
30

-108

-

_

-

.05
40
30
30
30
40
40
35

106
106
40
30
30
30
40
40
30
1

-112
-108
-43
35

106
108
40
30
30

-

35
42
45
45

-

-

-

-

30
40
40
30

35

-

-

-

-

-

30
30
73
59

31
31
72

-no*
-ll‘»
-

-

40
34

34
40
40
40
35

-

-

-

-

-

-

34
34

08%
41*4 42
5#- 5%
5¥73%- 73% 74#74

••••

77#

1 >4

-

7
7

1#- 2%
2
3
1
-1*2#
3
2#
1
1%r 1#
3
2% 2
104 -105# 104
-106# 103 -105

30
30
70
57
40

-

"

9*4

-

1#

9
>

-

76#- 77
*

10#
9#

-

30
31
31
73

5-5

...

-

1#- 1X
2% 2
2%
42%- 42% 43%- 47#f 36#- 44
41%- 42% 43% 40%
43%:
42
42% 43% 48%\
43%
30
34
30% 31
34

63#- 66#
41*4

40

-

6
6

-

-111
-107

-

-

7#

7
7

-

30-36
30-36
30-36
40-45
40-45
30
38
1#- 1%
43 - 43%

3)
30
30
77

-

Low.High. LowJKigb.
|

-

-105#

-

8

-

t%-

-

-41
5-5
—

7%-

November December

Low. High.

8*4
7%

-

43# 43#- 43%
43Vt 43
43#

30-30
30-31

#

-.74#'74#- 74% 74#-79

Septrm’r

Low.High. Low.High. Low.High*

2-2

bs, Land Q.,’89, A.&0

6s,

August.

7-7%

6s, <J. & S’..........
6s, A. & O
6s, funding act 1866

bs,

July.

7-9
2-2

Rhode Island 6s
South Carolina 6a....

.

June.

Low.High. Low.High. Low.High.

1

69, new, J. & J
68, new, A. & O—
6a, spec, tax, class 1
6s, spec, tax, class 2
6s, spec, tax, class 3

Low. High.
7j7~""- Jii l

March.

1877—(Concluded).

:

5^

f- 73%

-

-

-

74

73#- 73%

74

-

34
,

72%\

61
44

07%
A

5’J
74

34
70

,

74*4- 74#*

41%
5#_
75%
75

7534

6C3BA8..——.GRSMNhoioduwdrtgheleean

EF.—Pacif

RAILROADS
PRICES

Railroad

AND
OE

THEIR

STOCKS

AND

SECURITIES.

BONDS,

1860-1S17.

building in the United States reached the highest point in the

1871, when 7,670 miles were
miles were built, in 1872 6,167 miles, and in 1873 4,049 miles. From “Poor’s Railroad
following table is compiled for 1876, to which are added the totals for three previous years :
year

In 1870 5,690

constructed.

Manual” the

Tracks—

STATES AND TERRITORIES.

Mam and

Cost of Railroad
and

Branch.

Equipment.

General Liabilities.
Railroad

Capital

Bonded
Debt.

Stock.

Oper :ted

1,037-6S

Miles.

1,087 68

$45,314,005

794 17
5 0-12

$18,654,389

23,714,859

17,313,643

Massachusetts
Island
6. Connecticut

33.585,335

$26,641,704
5.536,925

1,917-62
1,001-33

124,675,669
6,129,023
52,912,022

22,246,164
96,075,688
4,536,333
37,115,898

45,202,711
2,490,500
13,884,105

5,500-21

$286,330,913

$195,942,115

5,585-27
1,-75"8 >
5,068-97

$421,593,301

$276,811,7’2

19.-75
1,363 65

146,795,016
386.841,860
5,027,2< 2
100,973,120

84,107,420
235,991.797
2,968.207
46,621,530

States

13,729-43

$1,056,230,509

Virginia
West Virginia
Kentucky

1,931 41

ing exp’nses

District of Columbia...

5,630*68

$45,760,993

$15,3.9,072

$201,874,333

5 486 96

$58,838,890

97,133,460
308, 88,800
1,964.800
67,268,304

1,175-40
5,124-57

$19,271,749

1,559 47

22.170,325
7 ,618 311
713,886
19,271,995

$696,490,676

$67b,529,727

13,510-49

$177,613,407

$ 9,382,517

$89,774,065

$39,140,108

$78,472,507

163,600

1,690 53

163,600

$6,824,617

$2,415,246

76.655,26)
37,023,418
29,555,822
37.295,123
62,038,201
17,420,000
70,641,120
27,302,635
49,198,667

46,407,139
22,142,200
11,270,640
16.514,634
42,263.619
10,310,000
‘30.429,129
8,984,676

32,503,229

7-00
1.438 51
870•- 0
734-50

14,881,4 0

8,9 6,900

27,391,615
7.39 >,000

79,037,900

28,894.179

49,912,172

1 640 80

16,131-86

.

13.
34.
15. North Carolina
16. Tennescee
17. South Carolina

19. Florida
20. Alabama
21. Missit-sippi

$110,146,245

$589,986,611

$287,223,474

$313,788,119

5,423-53

7. New York
8. New Jersey
9/ Pennsylvania
30. Delaware
11. Maryland and

$1,475,5(4
961,860
1,630,006
7,386,814

1,066-91

$3,884 949
3,305,8 4
3,351,117
24,134,769
1,353,640
9,730,644

$373,944,388

$213,570,279

139,8 6,0."2
194,496,511
415,777,140

336-29

England States

7 00

1,702-11

1,*39-00
893-80

1,31270
2,410-69

663-79
SO?-(5

16,3 0.303

1,7(3 0-6
221*5 *
-

164-00

13,600,224

14,656,900
21 348,749
23.851.5i 0
6,082. ICO
40,370 225
18,499,998

553,534
3,3 1 344

9,802,997
£3 000.5 2

31,441
6,935.778

31,708

1,285-70

9.356

6,724,593
1,893/ 85
3,042,336

.2/79,219
9^1,578
1,420,766

4,076,403

1,128 274

6,918,077

2,502,3)1

3,293.671
2,905,859

1,004,5:?
910,757

3,184,321

1,084/267

7,763,448

3,413,060

12,378 63

$46,718,178

$U,119,031

$194,290,128

5,492 97

55,638,171

2 977-92

$48,322,047

83,206,608

$14,076,999

89,622,267

100,029,041

3,766 55

184,107.625
60 698,677

8,494-24

14,179,971
,089,8 8
53,159,625

4,02*,OH
2 ’.908,6S9

1 584 07
61-00

3,751,751
1,242 891

159,228

30,69 ,150

3,954,800
3% 736.837
17,989,300

45.728,850
1,200,0 ,0
47,795,900
108,210.000
14,841,918
56,951,000
12,615,5 0

11,207,993
4,653,170

507-50

5.906,030
18,365,947
1,134,1(9
7,976,387
1.097,391

62,938
2,474.150
7,073,604
•(83,109
2,581,133
531,366

1,805,874 991

$919,390,210

$900,678,277

34,388-64

$186,212,832

163,912,968

1.099-32

$64,705,666

$43,469,400

$30,584,0(0

806-90

177 50
308-51)
247-5’
159 00

4,650,01:0
8,217,00 >

3,4C0,( 00
4,156,000

1,250,000
3,754,000

$3,918,539

$1,474,947

7," 6',664

1 500,000

1,*99,746

6,000,100

12,450,000

292-50
247-CO

5,600,001

651,051
205,327

400,000

1,991-82

$90,934,330

$58,125 400

$48,438,000

1,446-40

$,5864 316

$2,331,325

1,038-59
1,212-13

$115,214,588
142,630,283

$36,932,000

$78.34^,512

54,275,500

1,038-50

$12,886,859

83,312,680

$7 618.648

1,212-83

18,146 944

9414,869

2 251-33

$257,845,371

$91,237,500

$161/ 53,192

2,251-33

$31,0'3, 03

$17,033,517

5,5*5
13,371

$48,31*,922
175,797,519
196.0 0/69
50,612,320

$15,324,654
< 5,617,275
69.417,628

3,504 071

459-20

..

1,942-60

.

22. Louisiana
23. Aikansas
24. Texas

,

and Southwestern States

...

Ohio

Michigan

887-10
970 25
464 00

3 234'83

Indiana/.
Illinois.’.

4,21 ;-86

Wisconsin

8,877-19
2.820-23

.-

Minnesota

111,728,249

1,665-82

Dakota
Iowa
Missouri

79,754,596
12,700,000
1< 6,3 2! 84
228,458.579
19,578/55

261-00

2,877-12
3,775-38

Nebraska
Kansas
Colorado

598 02

2,082 55

92.523.557'

727 73

D. -Western States.

36,610-26

37 California
38. Nevada
39. Utah Territory
40. < >regon Territory
41. Washington Territory

i...
;~.

States

42. Union Pacific
43. Central Pacific

Rai roads

.

*

‘

21.7*8 650

•

220,137,041
52.796,744
39,508,529
11,500,000
58,304 151

-

122,640,691

’

2,16769

l,ic9*80

796-10
569-00

•

•••

••••

-

2

2,820-23

2,49137
3,648-63
.89-69

2,15467

•

546,131
......

4,737,257

..

Tear 1875,

New England States
Middle States
Western States
Southern s-tates
Pacific States
Pacific Railroads (Union and Central
.

5,729

$190,020,130
691.490,2)0
947,730,847
258,411,814
46,093,810

2,251

1,061,106,2014
1,851,625,768
538,837,416
7/, 192,118
258,472,645

91,020,500

$14.,237,162
7H,955,199
1,070.619,692
34’,2C6,37?
39,306.277
158,551,192

74,515

$4,104,538,757

$2,224,773,431

$2 457,8 5,899

5,509
14,241
34,8*2
15,605
2,339

$248,844,726
1,318,399,092
1,972,177,844
523,509,223
159,332,709

$13?,t25,915
657,934,(01
899,050,222
213,794.148
83,112,600

$111,218,811
060,461.491

7?,623

.,

$324,301,601

13.730

..

$4,221,763,594

$1,990,997,4°6

$2,2:0.766/0.8

$141,473,329
649,503,037
846,93^,411
228,477,107
81,251,700

$122,521,149
477,199,070
883.794,823
280,846,999
102,839,109

36,916
14,682
1,207

Pacific)

Grand aggregate

36,161
13.485
-

'846

16.798.581

2,251

29,014,8(8

1,798,823
16,614, 55

71,699

$503.838 549

$185,571,816

$50,1-64.774
186,198,435
214,869 477
52,559,244
16,774,086

$16,713,183
70,188,972

69,573

$5*20.406,016

$189,570,953

5,301
12,411

$51,676,6 8

$15,061,777

194.052,302

32,973
13,903

211,6(7,787
53,C9 \4'>9
15,576,749

69 280.P85
72 464,2 2

Year 1874.

New England States
Middle States
West rn States
Southern States
Pacific States
Grand aggregate

•

1,073,147.622
309,715,075

76,220,009

.....

7 5.5 (6.695

17,2(9/32
9/52,7.6

Year 1873.

New England States
Middle States
Western States
Southern States
Pacific States

5,314

....

Grand aggregate




mails, &c.

1,910*00

4.

25.
26
27.
23.
29.
30.
31.
32
33.
34.
35.
36.

Earnings,

Miles

1. Maine
2. New Hampshire
3. Vermont

32.

Gross (arni: gs

Total, i: clua’g less operat¬

'.

$203,697,778

14,0 9
3’,772
15/53
2,193

1,126,702,107
1,730.728,234
509,321,106
154,090,809

70,651

$3,781,543,034

$1,947,6'8.‘>84 "

$*,836/C4 450

1,612
06,237

'

526,4 9,935

18,145,349
8,65',6;9
$1*3 810 5PJJ

5 4

The

RAILROADS AND THEIR SECURITIES.

RAILROADS OF THE WORLD.
following table, compiled by a statistician, who

bly had

experience in the preparation of railroad statistics
than any other man in
America, is presented as an approximate
statement of the
mileage of Tailroads in the world at the begin¬
ning of 1577, as that is the latest date to which a
more

embracing the statistics

compilation

of all countries

4,148.060,791

Per Mile

$
53.557
64,474

38,816,154

4,504,672,412

56
29
459
25
48.

.

Jamaica (British)...
Panama (Colombia).
Middle America.

32.698 930
1.2 0,000

12,000,000

6!8

53,779,830

42
76
3)
21

3,297,619

Colombia
Ecuador
Ven. z ela
Guiana (British).

4,963,6^0
2.817,300

...

....-

5.781,958

2,972,013
1,37/000

reviewed

12, 1878, the
follows

course

of railroad

as

:

fact

earnings is quite unevenly distributed,
part by a considerable decline in earnings
appears that four roads in the table below

few roads—thus it

show

total decrease in their
gross earnings of
on the other side of
the account

a

more or

In

less

imp rtance, on thirteen
taking a general glance at the

find that the first

months

seven

$2,374,995, which
by

tra-

sac

ions of the year we

were
uite unfavorable, as com¬
pared with the same period of 1876, and th
only roads which, as
83,636
a
class, showed an increase in earnings were those
97,143
running west
71,239 and
southwest from St. Louis, with some of their
41.154
connections.
250,000 As to the other
railroads—embracing the western grain-carrying
87,022 roads in one group ; the east and west trunk lines in another
;

54,403

78,514
70,078
76 205

65,476

and the Union

and Central
the Union Pacific that there
the rest the decrease was

.

Pacific in

a

third—it

was

only

upon

increase in < arnings, and on
considerable. Although it is probable
was

any

105,030

that the Central Pacific main line

201,719,673
90,302,156

115,671

earnings, the decrease of that company being attributable to its
branches, whereon a large decline took place
during the year,
ow
ing to the exceptional drought and failure of
crops in so lo

977

111,276,992

92,428
75,912

2/91,6 8
14,529,701

57.334

5,967

513,009,701

96,029

16.872
12,721

3,291,073,88)

195,061

4,112

Argentina.

1,453,719,201
375.454 374

121,817
91,307
78,364
153,485
89,741

1, 66
47
231

South America..

Great Britain, &c...
France
,

Spain

Portugal
Belgium

701

2,208

Holland
Denmark
Sweden

1,2)2
819
2.517
?r;3

Norway

Rus.-ia

13,2/
18,471
6,979

Germany

Austria

Hungary

139,059,891

1,744

Paraguay
ILuguay

3.967

„

Switzerland

1,341
4,849

Italy.
Turkey

997
791

Roumaiiii
Greece

7

Europe

92,217

Turkey in Asia.
In ia (British).
Ceylon (British)
Java (Dutch)
Philiippines (Spanish)

249

6,937
92

£96
219

China.

10
67

Japan.
Asia.

55.561,976
338,894.897

113,251,192
58,406,976

156,325/36

62,890

71,315
62,108

22,231,397

61.519

902,469,151

68,219
90,324

1,779.2 0,604
679,152.022

305,225,772
90,922,482
478,426.452
102,111,743 ’

77,684,982
500,0v 0

10,280,615,937
£0,817.610

546,824.3)5
9,987,370

17,226,916
17,475,723
200 000

4,187,500

97,318

76,916
61,802

r62,5C0

77,774

72,022,264
2,*213,‘ 80

61,928
52,706

141

Namaqualand

93

Natal (British).
Mauritius

27,94.'*. 244

47,612

7,4G3,5S9

50,091

813,619

6

1/57,595

28/45

112,577,836

53 456

554

Queensland

8,749
43,131

2,306

New South W les.

258.845

66

Africa.

43,485,676
38, 81/74

78,494
61,013
97,790
49,107
43,716
47,662
4/767

298
702
327

Vic oria.

South Australia.
Western Australia

38

Tasmania
New Zealand

167
57.)

Austra'asia

2 6 5

Grand total....

194.3/5

68.8 8.580

16,057,989
1.661,291

7,959,628
27,078,116
183

msde

What then

273,154

68,771

16,324,648,324

84,015

LOANS ISSUED IN EUROPE IN
1877.
In the Brussels Moniteur des
Interets Materiel is a list of the
issues made during the course of the
year 1877, in the various
countries of the world.
The total is s ated at
£316,193,000, against £145,000,000 in 1876,
£66,000,000 in 1875, and £199,810,000 in 1874.
The issues of last year are thus
divided : £230,930,000 as State

or

municipal loans, £16,030,000 raised by irstituti ns of
credit,
and £69,235,000
by railway and other industrial compares ; and
their apparent large excefs over
those of preceding
years is chiefly
due to the conversion loans
issued by the United States Govern¬
put down at about 140 millions, France
coming
list with 75
millions, and Russia with 45 millions,
are

leaving comparatively little
remaining countries of the earth.
amounts

Those of France

to be spread over the

thus divided ; 61 millions of S'ate and
city
11| millions issu d by institutions of
credit, and as much
57 millions bv railway and vaiious
indu t ial tomoanies.
are

loar s,

r

!




>•

11 \»

*

-

on

were

the

principal circumstances affecting railroad
Without particular
year 1877?
regard to the
of
naming them, the following were salient points of the
First—The exceedingly low rates on the tiunk lines
during

order

year :
the greater part of the
year, and a moderate decrease in the volume
of business on those lines.
Second—The diminished crops of
1876 iu the West and
Northwest, leaving a email volume of
freighter the railroads iu the first half of 1877, which had to be
carried at the low rates
previously ruling, in consequence of the
“

tition for business
among
tional prosperity and

Southwestern, which were made in the Fall for the maintenance
freight.
Unfortunately, we have very little information during the year
as to the volume of
freight passing over the different roads, and
of better rates for

it is

only after the annual repo:ts come out, one by one, that it is
possible to ascertain whether an increase or decrease in
is due to

a

variation in the tons of

earnings

freight and number

of passen¬
gers carried, or to a change in compensation received.
For 1877
we have the
reports of the New York Central & Hudson, Lake
Shore &

Michigan Southern, Boston & Albany, and Erie, all for

the year ending September 30, 1877, and from these are
compiled
the following table showing the relative amount of
business
done, and the gross and net earnings nude on these
leading trunk

lines, in 1876-7 and 1875-6
N. Y. C. &

1876-7.

Hudson.

Tons canied...
Carried 1 mile.

next on the

loss

earnings in the

:

*

L. Shore &
Micli. S.

Bost. &

Albany.

Erie.

Freight—

ment, which

no

granger” decisions against the railroads, and the sharp compe¬
the various lines. Third—The excep¬
increasing population in northern Texas,
Arkansas, and Missouri, which helped the railroads
111,482
running into
those sections.
Fourth—The steady business on the main line of
83,605
the Pacific railroads.
Fifth—The great crops of 1877, which
78/27
108,553
changed the entire situation when they began to come to market.
58 196
62,637 Sixth—The agreement among trunk lines, both Western and
20.0)0
102,419
98,211
71,429

616,719,451

42
587

Algeria (French)
('ape Colony (British)

then

98,656

1,163

Tiini-3.

had

parts of California.

7/30

Egypt.

as

increase, of

an

roads.

1,324

Peru
Chili

these

earn¬

The reports of
twenty-two
raihoads for the year 1877, show that
their gross earnings
aggre¬
gate $77,712,196, against $78,189,781 in
1876, a net decrease of
only $477,585. It is hardly necessary to call attention to the

96,318

82,802

..

was

is balanced

4 3

Honduras
Cost i Rica

Brazil .i.
Bolivia

$

ings in 1877,

on a

317,795.468

4,924

..

North America

(Spanish)

Total.

In the Chronicle of Jan.

that the gross decrease in
and is made
up in great

:

Capital Cost.

Railroads.
Miles
77,470

Uniti d States
Canada
Mexico

yet be prepared

Length of

Countries.

Cuba

can

RAILROAD EARNINGS IN 1877.

has proba¬

Passengers —

Number carried
Carried mile..
Av.r te$)mil.\#

Total.

6,351,356
5,642, 84 2, 01,657
6,'82 451' 20.777.748
1,619/48,685 1,113,93 >, ,11 313/22/71 *,114,58(5,2-0 4,162,342.887
8,919.4 8
31 /47/25

$0/207

2,734.801

5.293 151

157,948,856 103,278,125

4,837.233
170,883,580
$00-146

$1 .2 4 434 $6,762/47
3.909,875
2, ib.,101

$14,708 8S9

21,884.828

748,962,887

Earrings—
Gross
Net

126/79,085
11,612.92 4

3,. 09,050

$61,2*4,555
21,618,950

5,912,800

2/806,862

1815 6.

Freight—
Tons carried
6,873 680
5,489,1'8 2,5 '1,274
Carried ; mile..l 674 .47,05 1,0 4,3(1,419 3 1,624, 88
..

Passengers—

Number catried

Carried 1 mile..

9/8*.4 0
353, U 6,145

Av.ratef?mile,0.
Earnings—
Gross
Net

3 IV,353
5/8 ’ 352
67,K. 5.( 02-110,644,410

$00 19.
$28,04 .588
11,92.’,416

1,010,411,921 4,051,345,333
5,012,800
161.074 706

$ 0-i55
$1 ‘,417,0-:0 $7/(7 .758
4,890,720 2,391,7ra

$15 85/4 1
3,621.260

This exhibit of the total

22,981,995
794,4)0/23
$60,390,827
22 8.6,160

freight and passenger movement on
d, and iheir gross and net earnings,- is com¬
prehensive, as giving a general idea of the trunk line business
for the year ending September SO.
It is Romewbat satisfactory,
too, that there was no general loss of freight business, and the
decrease in earnings was caused by low ra tes’and the abstnce of
the four lines

nanr

Centennial passenger

traffic.

/

RAILROAD

EARNINGS.

55

MONTHLY EARNINGS OF PRINCIPAL RAILROADS*
Jan.

Feb*

RIar.

April.

Rlay.

June.

July.

Aug.

Sept.

$62,792

$73,505

$121,003

73,410

$114,245

104,052

$101,344
107,845

$100,641
113,450

$110,563

152,215

$133,654

180,217

147,55!

136,350

139,130

104,433
185,641
185,731

$112,631

141,131

112,474
197,996
200,681

$101,774

117,417
134,364

193,351
187,142

243,133

265.-593

255,572

199,926
297,958

225,'793

275,012

342,823

335,078

231! 500

81,213
62,701
101,692
68,094

83,016
97,218
105,843
73,194

84,092
100,535
88,164
72,435

91,205
101,700
100,703
69,357

87,435
132,923
73,243
73,309

116,290

1 <6,295
117,928
90,60)
194,226

142,344
136,125
111,441

109,536
127,879

126,737
110,803
90,488

4tch. Top. Sc S. Fe.
1874

1875..(509

m.

1876..(629

(509 m.)...
to 629 m.).

m.

to 711 m.).

1877..(7ll

m.

to 785 m.).

68-659

219,370
189,915

Oct.

Bar. C. H. Ac INorili
1874

(401 m)...
(401 7?i.)...

1875..
18*6....

108,303
102,565
91,934
73,964

..(668 771.)...
1877..(3i8 7n. to 424 m.).
.

Central

994.339

m.).

1,170,615

1877..(1,660 to 1,873

Chicago &,

804.044

908,159
1,017,204
945,171

71,605

112,759
77.951

113,625

Total.

$116,379

$102,225

178,954

152,534
204,447

$1,250,806
1,520,359
2,486,583
2,661,828

94,908
133,935

171,'533

344,420
319,928

351,603

339,876
323,219
346,850
325,4)46

870,725
860,945
812,962

755,326
761,163
915,623

824,995

823.523

654,421

657,498

576,271

466,101

3 >3,273

502,765

527.546

517,112
405,000

567,643
469,000

305,597

Clilc. Bur. Sc Q.1874
.(1,254 771)...
1875..(1,264 to 1 247 m.).
1876
(1,297 771.)...
1877
(1,297 771.)...

(1,399tti.‘>...
(1,399 m.)...
(1,399 7?!.)...
(1,399 771.)..

..'

1876
1877

375,000

1,248,875

l'3l1^377
1,128' 071

129)554

1,249,881
14,522,814
l7,035,06 3
18,124,112
17,043,093

362,342

384,335

363,627

355,527
345,455

-

891,853
920,923
885,753
888,065

367,955
3 13,90 )
339,385
946.125

97!), 560
892,370
960,198

397,683
351,0)4

496,815

464,439

332.233

430,056

524,042

4213,645

4U,9iO

490,233

451,03}

387,445
4)3,671

510,795

311,265

305,92?

491,723

524,244
480,933

532.848

358,982

1,004,693
989,085
1,044,570

1,060,289

884,013
943,163
814,175
829,299

1,161,357
1,066,367
1,04'/,870
1,330,249

1,091,644
1,213,221

1,129,192

749,215

704,373
630,516
569,775
677,000

948,105
1,099,300
957,735

917,447

1,242,122
1,363,310

550,951
489,019
445,597

1,188,610
1,379,269
1,290,114

416,544

395,'779

367,398
391,61)

1,007,876

1,010; 5.33
1,026,817

1,232,118

364,725
369,312
374,351
334,784
842,240
823,468
826,120
962,148

Chic. mil. Sc St. P.1874
1875

’

1,110,624 1,311.609 1,366,615 1,286,940 1,322,557 1,371,739 1,465,515
1,381.766 1,370,334
1,36b,981 1,798,469 1,738,870 1.536,225 1,553.011 1,5.7,022 1,615,'974 1,513,835 1,33
*,209
1,427,035 1,7)7,415 1,846,269 1,541,222 1,696.151 1,371,876 1,8*8,065 i;«75;532 l,424i317
1,433,653 1,554,653 1,4S4,233 1,3J1,8S7 1,362,072 1,441,293 1,806,383 1,855,774
1,317,000

832,423
1,136,263
1,184,683
1,215,373

Alton-

(673 7?i.)...
(0;8 771.)...

18*7

781

848,558
963,938

(650 /71.)...
...(6 >0 77i.)...

1875
1876

100,902

.

Bee.

Pacific-

1874.. (1,219 to 1,213 m.).
1875.. (1.2*7 to 1,309 771.).
1876..(1,309 to 1,660 771.).

1374

86,849
108,241

Nov.

742,051
639,669

964,930
718,465

650.961

819,563

515,000

606,000

886,709
742,168
877,).9>
589,000

842,395
635,270

1,163.522
1,052,890
1,232,407
£927,143

1,011,685
1,251,892
1,015,992
934,837

556,000

793,859
741,206

862,153
974,21)2
817,259
1,163.000

5,126,223
4.655,764
4,1460,523

4,482',327

11,645,318

ll'738j443
12,003,951

12'379,202

691,-250

662,283

927,030
765^2 -sO

747.893
610,283

832,000

8,255*743
8,'054,'i:0

6)9,000

8,1 5,COO

1,407,975 1,065,725
1,409.168 1,196,333
1,403,992 1,117,319
1,559,367 -1,471,214 1,138,119

1,033,027
’,339
>,64’)

13,361,690
12,811,227
12,467,510
12,129,393

605,078
60b,345
566,523

652,601
552,543

7,161,783

531,004

6,972,018

1,6(1.473
1,927.933
2, 54,687

645,631
l,lb0,000

8,953,013

Chicago Sc Northwest.—
1874

('.,502 771.)...
...(1,592 771.)...
(1,502 ?71.)...
(1,50- 771.)...

1875

187o

1877

1,014,514
8’5,16.9

900.765

1,024,051

671,784

803.342

*51,617

970,064
944,450

1,080,193
1,024.339
910,973

721,024

714,116

804,536

853,895

1,164,459
1,030,751
930,014

493,017
562,259
489,838
489,688

471,213

541,340

576.464

580,906

5

)2,230

664.934

544.705

553,727

626.738

500,898

532,721

616,773
506,431
615,177

103,092

136,677

94,532

156,281

142,968
122,796

156,111

183,158
13*,779
174,335
157,217

Chic. R. I. Si Par.—
1874
(674m.)...
1875
(674 77i '):..
1876..(674 m. to 732 m.>.
1877
(732 m.)...

1,290,591

1,113,371
1,003,634
986,632

1,141,310

564,172

583,748
613,067
659,196
536,234

519,355
702,708
618,869 \
641,647
521,120 ^ 588,491
604,898
754,598

133,059

146,952

135,432

125,890
141,239
162,719

122.455

113,131

640,284

1,254.255
1,296,805
1,132,830

635,154
726,473

752,149

663.940

798,277

715,500
815,048

733,115

93

90

928^747

7,478^594

Han. Sc St. Jos.—
1874

(296 m.)...
m.)...
(296 m.)...
(296 m.).

1875

(296

1876...,
1877

.

Illinois
1875
1876
1877

132,961

158,835
147,439

148,573
186,966

207,529
153,068

141.426

138 037

171.380

165,419

129,781

222,468

202,211

212.879

154,634

173,911

181,129
163,634

187,575
206,934

188,976

178,401

216,335

187,749

143,128
151,709
158,812
161,312

Central-

(706 m.)...
(706 m.)
......(7c6 m.)...

484,030

413,705

426,163
374,833

451.761

Ind. Bloom. Sc W.1874
(344 m.),..
1875
(344 m.)...
3876
(3)4 m.)...
1877
(314 m.)...

365,061

149,237

449,433
41', 081
313,034

465,773

44^,594

446,832

521.042

469.299

402,2S4

471,595

51. ,v»3

519,138

60 4,101

574,119

508,3' 2

489,674

438,594

526,247

508,976

563,015

426,910

588,367

429,614
452,048

153,610

14S,158

143,784

137,556

133,423
141,300

122.77S
140,815

33,646

11 !.H56

1,355,495
1,462,804

93,117

),2)7,662

353,§05

350,231

135,341
102,876
130, J0 3

129,436
8'4,694
130,535

137,453

130,481

82, >33

87,445

120,090

83 507

141,410
107,108
133.275

111,179

107,309

85,090

84,726

128,636

121,909

119,063

75,484
64,943

71,185

80,061

72.596

188,466

190,191

1,365,634

213.978

1,441,805

89,404

114,519

154,837
180,634

a 13 93)

73,897

88,9?0
133,102
ISO,054

155,865

86,251

184.9)2

201,2.8

1.5:8,973

317,589
277,733

293,313

302,174

305,895

294,202

292,462

315.2,37

315,611

240,830

3,356,750

218.437

254,783
303,853

345,360

253,652

234,022
274,362

301,959

246,552

339,374

336,417

SCO,903
281,691
349.153

239.815

247,602

386,090
356,978

3,363,760
3,01)0.799
3,24*,450

322.810

277,870

260.475

3,’ 95,495

305,144
335,175

3<’0,534
321 8 'iO

295.7 38
296 466

2,904,9)5
3,217.277

329,531

274,184

256,621

3,174.323

371,332
394,972

333,043
346,311

321.214

3.714,521

317,949

3,854,251

242,607
219,804
264,5(>7
231,810

2S7.845

385,403

255,394

291,014

131,001
91,744

133,386

142,649

108,109
103,513

92,168

93,176

90,474

125,895

115,178

105,599

86,455

82,265

140,336

..

116 501

95,598

78.832

7.i,&96
82,010

155,363

121,373

112,037

167,143
169/333

180,017
202,525

(673 «*.)...
(673 m.)...

203,4)2
176,265

131,094

251,948
255,474
218,760
230,284

300,662
293,347
241,393
238,193
213.747
192.471

221,923

243,444

187.091

221,444

261,781
211,735

291,873
270,932

214,788
221,656

212,923
231,307

233,126
2l8,i23

2 •<'4,308
253,125

294,3 >0
323,347

342,037
291,827
324,144
307,178

233,*33
328,372

264,917
303,542

303,’26
319,417

252,313
267.014

303,675
351, i35

347,9.1

134,954
109,711
105,685

140,667
100,532
101,542

120,407
89,918

97.037

95,401

41,093

40,867
39,039
3 >,290
34,950

43,153
39,315
37,281
34,867

137,811

80,815

1.672,706

Pacific-

1874
1875
1876

1377.

136,055

(673 7/1.)...

sa-

174,013

79,244

(673 m.)...

.•

5.952,429
5,421,692

347,411

380,495
359,630

116.826

liitern’l Sc Gt. N.—
18?5
(459 m.)
1876
(454 /71 j...
1877
(519 771.)...

K

1.944.08*

>

209,463

322,657

216,927

2*9,231

Mo. Kan. Sc Texas1874
1875
18*6
1877

266,333
199.680

230,371

262.801

195,234

256,459
237,032

254,723
235,308

233,0 15
215,814

(42 i 771.)...

235.296
2

309,9'4
2)2,312

301,953

(426 7/1.)...

21.9,348
156,174

174,968

178,249
174,393

149,829
133,687

37,498

44,472
49,358
42,239
43,223

(786 771.)...

(736///.)...
(786 m.)...

(786 7/1.)...

Rli

c

<»

1876
1877

a<-

c—

Mobile Sc Oiiio—
(52* m.)...

1874
1875
1876
1877

*3, i0 i

299,927
196.129
232,38)

(528 m.)...
(52,3 m j...

232'3i2
(523 m.)...
St. L. A. AT H.Brcli*.-

1874
1875
1876
1877

(71 m.)...

(71 m.)...
..

247,595

38.607
57 201

'

rim.)...
(71 m )

38,980

St. L, Kan. C. Sc N.—
1875
(504 m.)...
1876
(504 m.)...
1817
(526 m.j...

39,59)
36, >33

51,413

..

St. I*. Iron RI. Sc So.
1874
(684 m.)...
1875
(084 m.)...
1876
(681 m.)...
1877
(6S4 mj...

55.727

250.074

323,079

130.251

40,446

38,138
3c,40.

370.015

119.047

116,639

102,101

112,873

155,202
149,821

88,812

93,912

88,949

95,932

113,096
125,714

141,762

42.794

50.039

55,232

65.800

35.753

40 411
35.113

43,710

44,589

40,244

49,663

2),-561
31,718

115.1)7}

236.132

230,434

244,894

275,910

264,560

275.147

327,190
377,293

217,368
281,912
312; 116
352,407

296,204

£53,778

273,895
231.903

257,338
289,686

252,643
274,164

208,088

196,155

243,991
271,230
279,013

220,602
234,002
254,438

183,033
237,355

153,197
216,9 7

248,836
255,633

216,624

227,173

178,338
223,720
171,856

193,924

99,601

105,612

102,096

97 778

88,558
73,724

:

50,789

246,099
240,042

28 .>',879

231,678

218.6C8

235,248
226,2H
257,587
217,320

284,590

309,60*

2,391,019
1,914,342
2,099,312

252,763

315,000

1,990 833

46,930
50,7 '0

52.812

559.317

57,351

50,824

561 8(-8

50,764
61,6)9

48,289
47,764

54,030
40,920

497,923
515.724

3,298,98
3,802,94
4.002,04
4,5C0,42i

251,230

292,216

357,820

283,957

333,776
354,914
421,604

383. ‘ 04

42

337,742
>,765

404,219
497,650

4i7,9i)2

450.332

,507,764

510,312

458,075

526,304

263,240
328,508

230.626

265.536

2.636,70

290,600

23

321,180

347,940

261,178
258,635

3,137,23

302,026

*,795
312,333

88.647

114,307

122,0 1

121,030

137,4 6
132,890

151,494

96,421

134 632

114,201

112,194
108,542

1,336,469
1,320,453

96,939

92,821

65.033
90.660

•

67,145
89,436
91,465

110,924
73,613

131,865
104,856

102,608
101,736

102,912
91,308

1,258,751
1.004,649

112,316

96,040

11 >,698

118,812
88,676
104,499
U8. 95

93,601

90,8)9
92.311

1,103,219

115,327

72,936

86,743
77,305
81,241

90,953
117,945

68,167
118,775

826,084
877,476
931,64*

291 631

274,160
374,165

.

3,159,47

St, Louis Sc san Franc’sco—
1376

CiWm.)

1877

..

..(339 m.)...

St. I.. Sc So’eastern—
1874
(3;'8m.)...
1875
(358 m.)...

1876
1377

102.893

101.762

10\639

100,438

106,049

103,18 J

91,803
97,949

111,900

99,417
80'()87

107,971
84'900
85,331

93,997
85,915
79,26)

84.516

(358 m)...

83,618

(358 m.)...

79,764

81^919

42.385

43,161

33,880
69,187

28,053

51,660
42,551
70,313
50,512

80,812
91/257
St.P.&S.C.&S.C.&St.P.—
1814

..(270 m).

...

1875

(270 m.j...

18:6
1877

(270 m.)...

(2^0 m.)...

Tol, Peo. Sc War1875
(237 m.)...
1876
(2 i? m.)...
1877..
(237 m.)...
r

i

67,072

.

65,789

70,881
8;,064

115.6.2

90,959

103,948 '

140,750

116.695

113,013

123,894

143,554
121,274

145,028

127,167
137,979

123,929
101,075

113,762
98,')? 1

1,120 483
1.411,753

116,591

115,167

92,036

90,6»7

1,108,66s

1,042,416
1,015,159
1,163,176
979,352

1,063,993

1,141,938
1,266,929

897,159
903,151

1,365,509

1,000,598
1,037,59}
1.236,43?

10,55n.e?O

1,155,944
1.305,986
1,13),412

990,986

12.886,859

1,329,171

1,115,009

925,852

12/73,202

85,616

8).990

61,564

61,645

70,592
125,209

77,963
135,923

89,317
92.666

85,011

80,010

74,359

834,955

910,065

1.095,815

1,273,225
1,201 955
1,109,063

902,881
1,042,534
1,151,315

850,113
1,0S3,‘!82

1,101,093

9.11,997

102,'737

687,026
918,963

661 '987

607,991
620,307
697,133

871.351

1,051,183

815,354

gftljlOO 1,027,522 1,0:8,283

74.809

118,013

90jL13

.

1,099,50,)

62,975
107,562
64,477
80,402

74.216

61,809
112,260
80,579

84,220

71,432

101,966

55,935

71,437

78,571

79,2i2

69,455
70,069
63,192

46,963

72,805

89,472
73,221

r,2,319
58,866
57,846
59,848

46'113
99 208

87,896
79,809

75,512

887,573

nton Pat ific—

1876

(1,038 m.)..
(1,038 m.)...
<1,033 m.)...
..(1,036 m.)...

......

18.7




620,715
574,930

978,781

11,993,882

56

ENGLISH RAILROAD LA WS.

SECURITY FOR BOND AND
SHAREHOLDERS
BY ENGLISH RAILROAD LAWS.
In .view of the

large number of

in payment of the
fu ds allow.

Rec

railroad foreclosures which

have occurred in the United States in the
past
the unsatisfactory results

three years,

nd

obtained, we have procured a brief
summary of the English laws which furnish protection to share
and bondholders of British
railways. This article has been

held

vers

•

to

principal of the short mortgages, gradually

have been needed in few

cases.

account

They

are

as

strictly

by the courts, and, owing to the prevention of
floatin i d- bt and other
complications here, their duties have been
comp ra?ively simple and temporary.
In
ost British
companies all the loans rank equally, which

kindly furnished by Mr. John M. Douglas, of London, a gentle¬ makes the securities much more marketable and
valuable, being
xceediDgly well informed on railroad matters, both English parts o! a vas homogeneous whole.
Their perpetual debts
and American.
Mr. Douglas writes :
quoted on London Stock Exchange cannot at
present be bought
I gladly endeavor, on
to yield more than
your request, to explain the British
3$ to 4 per cent,
man

system of railway loans without foreclosure
powers, and how it
would affect American bond and

shareholders, taking Erie for an

example, as you suggest. I have been from the first
of the combined reconstruction
committee of Erie

'

short

ne v

railw y,

which has

never

default.
Such

except in the case of one
yet had any profit and is in

high

v lues a-e attained by
limiting the proportion of
paid share capital^ so that there may be a
margin of
shareholders, and have seen in detail there, and more
generally security, and by regulating the manner of incurring debt, so that
on other American
railroads, the sore evils which have arisen for nothing can b * put before the bonds
; also providing that bond
want of railroad laws sufficient for the
requirements of our times. and shareholders can see all the affairs, can inspect alL the
books,
This is no disparagement to
your great and intelligent nation, for can easily and cheaply have lists of their
co-partners, can see
railroad laws have not been made
by Congress, but have been the holding of each, are protected from
having their votes
made, without concert, by your numerous States, some
very swamped by large operators, and can practically control their
slightly interested, and even the greatest representing only a directors if they please. All these directors
must be considerable
fraction of the mighty intellect and
railway interests of your shareholder ; and classifica ion or rotation of directors secures
Union. It is not for strangers to
say how your legislation should against raids and revolutions. Bonds cannot have
proper value
be gone about.
But American and European investors
pain¬ nor be safe uni ss the shares also are protected from raiders and
fully feel the endless differences and defects of State laws, which “operators,” for the sure income of the
shares s the only
margin
only benefit the great operators and railway magnates who make that gives value to the bonds.

it their business

learn the faults of these

to

and

a

member

bond and

patchwork statutes,

thereby to rule the common herd of bondholders and share¬
holders with a despotism which here would never be
borne. The
confusion has been increased
by acts applying generally, though

passed at the instance of individual persons

or

their

and other incorporated companies were
originaily fragmentary and unsystematic. But after
long and large experience, Parliament codified them in
1845, by
the “Companies Clauses Consolidation
Act/’ which has worked

important additions

have

Borrowing is forbidden beyond

a

statulory limit, generally one-

third of those shares which are at
least half paid-up.
In excep¬
tional uuluckyceases, as that of ihe
railway in default abovemeution d, powers to borrow somewhat

have been given.
everything except payment for the
lani or 1 ases, Ac., on which th
railway is held. No railway
can hind itself for a loan
or bill or
note, or in
more

any way but by
statutory bonds.
Acknowledgments, called “ Lloyd’s
Bonds,” have been granted by needy
railways for work done or
goods supplied as a temporary resource, bu‘ these cannot

here also

tome

to

Bonds take preceden e of

corporations for

own
purposes.
The laws of
railways

excellently,

debt

the

be

effectually granted for borrowed money, and do not rank with
required, the last of which have stood nine or ten
years’ trial the statutory bonds. Wages of labor are paid weekly or at most
with marked success.
fortnightly, and no que-tion has ever arisen about their
prece¬
I canot show how our
system would affect Erie bond and share¬ dence, as they cannot fall in*o arrear. No wor man
would sub¬
holders in their difficulties;
for, under our sytem, the like could mit to it. Nor does our law allow

not occur.

But I

been

made

as

show how this is, and how both bonds
and
shares would have been not
only preserved from
can

'

Thus

no

holders.

legal “floating debt”
Notes of

can

any preference for supplies.
exist to 1 rouble the bond¬

hand are sometimes
difficulties, but;
given, but these are well
vastly enhanced in value by such safety as is given by our rail- known by both
givers and receivers to be mere debts of honor as
oad laws.
The public, too, would have
benefited, not only regards the companies, so that directors in times of difficulties
because it suffers by all waste and
wrong, but because a strug¬ have had to become personally bound for enormous
sums on
gling railroad cannot serve the public so well. Our laws are belialf of tlieir
companies, trusting to the honor and good
alike for PL gland, Ireland and
feeling
Scotland, though some of these are of their shareholders.
parsed, as it were, in duplicate, varied only in some
All these provisions have Dot sufficed
legal words,
to make bonds
always
Ac., according to the law language and forms of each co
ntry. valuable. We, like you, had at one time a plague of “contractors’
I. Mortgages in America are at
present secured by powers of lines,” and railways not needed, but
got up for the making by
foreclosure and sale, founded on an actual
mortgage, granted speculative engineers, contractors and lawyers, with shares
issued
ju3t as if the railroad were a farm or a house but railways differ on puffing
prospectuses, contracts let at monstrous prices and
so
greatly in exte't, shape, use and value, from any estates largely paid in shares, Ac. These
were
generally small concerns
pr viously known, that they needed a r.ew form of
and were bad from their birth,
This plague ceased for want of
security
which was given by our statutes,
dispensing with the old forms dupes to sup >ly money. The bonds of some
proved almo t
of mortgaging and
registry as incon ruous and really inap¬ worthless, but time is bringinganumber to have
some real value.
plicable. The word mortgage, though st’ll employed in our But some could not
go on without a sort of
reconstruction, and a
statutes, is not in common parlance aj pile 1 to our railw v
law was passed
authorizing this on a scheme approved by threebonds^
which we call by the
equally inexact name of “debentures.” fourths in value of each class of
mortgagee and preference share¬
They are secured on the jeverue only, but pr marily and
holders, and by a meeting of ordinary shareholders.
per
This re¬
n.a
ently, and on the better lines re now almost wlio.ly replaced quirement of separate consents has
prevented any section being
by (onversion into “deb nturc stock,” th t is. perpetual a nuities taken
advantage of. And until people agree, the receiver
s cur d in
quietly
exaciy th ; lam * way. PIxc pt in one or two unfortu works the line for payment of the earlier
creditors.
netely peculiar cases, the loan capit 1 is s* cured over the whole
II. The real ultimate
security for bonds and shares alike lies
undertaking, and additions to the undertaking become liable to in as far as possible
securing good management. This we do
the debt.
This we find o
by
dinarily muc i saf r and cheaper than statutory provisions, mostly now thirty
years old, but gradually
separate loans.
The whole rolling s’oek and
plant are by statute improved and added to, and really effective,
except against those
made par of the
undertaking, and free fro n separate convey J errors of judgment in which the directors and
shareholders went
a ce< and from seizure
by credit rs. We have no tru tees for wrong together, and which must
always be incident to human
the mortgages, and t is is one of th *
'i he regulations are
groat benefits of our statu, affairs,
mainly in the Companies Clauses
tnrv forms.
Some tru-iees are very
uusaticfactory, and even the Consolidation Act and the acts of 1867 and 1868. If
b st c nn t be better than ill*
they, or
bondh lders themselves. If the something better
accomplishing their objects, were made law
inrerest is not paid, a considerable
propoition of bondholders, throughout the United States, they would
give American bonds
specified beforehand, cau by combining, get a r ceiver.
he and shares a value like English, for American
railways have
need for such a comb'ned movement
by disinterested hoi lers greav advantage* over ours, and nothing but the want of
such
prevents improper applications, and secures the selection of a jaws has
kept down t eir value. Experience provedHiere that
receiver who acts only
for hi constituents and without jobbery. nothing less than these wou’d
give safety here, for they have had
l£e works the railroad a d
app les the net proceeds first in pay¬ to be gradually made more strict and
compltte. The main points
ment of interest on the bonds so far a
ranki"g equal y, and then are as follows:




ENGLISH RAILROAD LAWS.
1. Capital cannot be increased either
by shares or loans, nor
railways made, nor leases of railways granted or accepted,

ally there is

one vote

or
for every

share registered up to ten, then
hundred shares, then one for every
nor
any considerable new works or enterprise undertaken, nor ten shares additional.
This prevents large holders,
speculative
anything except matters of ordinary administration performed or otherwise, from
controlling these great concerns. They would
without the express
authority of the shareholders, given at a need to buy nearly nine-tenths of the shares to be sure of
ruling.
meeting held upon postpaid notices sent a week or so before to No one is on
any occasion recognized as a shareholder till regis¬
every shareholder, besides longer notices by advertisement. tered. The
registers are closed for a reasonable time before each
Most matters have to be
approved by at least two, and some¬ meeting to secure their
being perfectly written up. The recent
times three, such meetings, with a considerable interval
between, difficulties at an Ohio & Mississippi election would be
impossible
at some of which the
approval must be by three-fourths of the here.
votes.
This large majority, and the
repeated consents for the
8. Holders of a certain
proportion of shares may at any time
same
object, are important and much-needed safe-guards, not require the directors to call a
meeting of the company, and, if
only against the managers, but against the shareholders them¬ this is not
done, may call it themselves. The directors
new

one

for every

five

up

to

one

ar3

selves.

bound

to

obey the resolutions of shareholders’ meetings.
Had these rules prevailed in New
York, the Erie could not
9. Proxies are only granted for one
meeting named in them,
have been deluged as it was with convertible bonds and
shares, and practically are rarely asked or given till the
half-year’s
manufactured in

millions for instant use.
No board would have
dared to propose them. No shareholders would have
passed
them. And if these difficulties could be
supposed
the

time needed for notices and

mere

such

non-existent,
meetings would have made

things impossible.

reports and accounts

and is

2. Books and accounts must be well

kept and all

open

for free

received ;

thus no directorate has in
possession the ready voting power which many in America
keep
continually in hand. It is not wholesome that proxies should be
granted in advance, nor till after learning all that has been done
are

proposed.

10. Directors

are the
objects of important rules. (1.) Each
inspection by all bondholders at all reasonable times, with power must be a substantial
shareholder. The amount required varies
;
to take notes, and
by all shareholders for fourteen days before, in little concerns it is
small, hut in the larger companies it ia
and one month after, each
ordinary meeting, which in England considerable. In point of fact the
holdings of many directors are
is half-yearly, instead of
being annual, as with you. We think enormous. Some large
companies publish at each election the
there is an advantage in this shorter
period.
Anyhow, the holdings of the candidates. (2.) They are paid,
though very
shareholders should have access to the accounts and books at
moderately. (3.) They are, as trustees, prohibited from
least as much and as often as here.
having
any other pay or any contract or profit from the
company, unless
3. Half-yearly accounts have to be made
up in the excellent as shareholders of an
incorporated company. This is excepted
statutory form imposed in 1868, and printed seven days before because the names and
designations of all shareholders in such
each meeting.
These accounts give a very complete and detailed
companies are registered and public; therefore such contract
view' of the affairs,
carefully separating capital and revenue, would not be secret, and if it were
improper it would lose him
with a probable estimate of
capital outlays to come. Each com¬ both his seat and his character.
(4) One-third retire annually,
mences with last
half-year’s balances, so as to be quite contin¬ but may be re-elected. This
provision makes raids on railroads
uous.
The accounts are not
composed of isolated items; all go impossible, as it would take two
years at least before raiders
into

the

columns, and

are

summed up to
of a purely

produce the general could get control. The Erie raiders
got possession of the road
practical kind, require no and then made themselves permanent
by getting an act for this
bookkeeping but what a company must have for its own sake, rotation
system, which, in the circumstauces, was
and were formed
properlyby taking the best parts from the very variou8 repealed. But no board can be
expected to work properly with¬
forms used by numerous
companies, and adding others. Some (par" out reasonable
certainty of its policy lasting for a time. Some
ticularly Scotch) companies work into these forms a good deal o American boards are said to
secure this
by manipulating shares,
extra information, not
compulsory, and more might still be use and begging, or sometimes
buying, permanent proxies; and most
fully introduced. These accounts must be lodged with
govern¬ of them by excluding both share and bondholders from
ment and given to
knowing
every bondholder who asks them, and they their own affairs or co
partners. Rotation seems a much more
are sent
by post, with the half-yearly report, to every share,
proper way.
balance.

The accounts

holder about

a

week

are

before

the

half-yearly meeting. Their
On these varied and
carefully-matured provisions the compara¬
uniformity is of the highest value, not only for comparing the tive steadiness and value of
English railways depend. They are
doings of different railways, but for watching the
doings of one largely held by investors for a return of from 3| to
per cent.,
company from half-year to halt-year.
Till this form was com¬ or a little more, combined with the
hope of gradual improvement.
pulsory the companies constantly changed them, just as
many Their security does not gain much from the care of
American companies still
Parliament,
do, with the effect of making com¬ which
may protect one of them from another, but which
scarcely
parison impossible.
ever
4. The

half-yearly accounts must be reported on, before
half-yearly meeting, by auditors (two in number) appointed,

protects shareholders from their

the

of their directors.

own

errors

or

from those

These provisions seem to suit the free
not
spirit of American insti¬
by the directors, but by the shareholders. One of them retires tutions. In the best
old sense of the words
they are democratic
annually, but may be re elected. These have no likeness to an and
republican, opposed to oligarchy and “personal governAmerican auditor, who here whould be
styled tlio accountant of ment;’’ and they are so
distinctly conceived and expressed that
the company.
They are paid, but must have no other office or tlmy have caused
scarcely any litigation.
interest in the company’s affairs, unless as
holders of bonds or
Though I have read many American railroad laws, my knowl¬
shares. Generally, at least one, sometimes
both, are public edge of them is necessarily most
imperfect. Yet, I venture to
accountants of the
very first class ; if„one is not professional, lie think that no
rights would suff »r, though all the above were
is generally an
experienced largo shareholder. The auditors enac ed at once in
America, except that very important rule as to
have at all times access to the
company’s books, and their report the scale of voting, which
might seriously affect those many
must be laid before the
meeting of shareholders before a divi¬ railways which control others
by holding a majority of their
dend is declared.
They are also entitled to make to the share¬ shares, unless ex
post facto operation were excluded. To disturb
holders, at the company’s expense, and at
any time, any commu¬ the present state of power in these cases
might he wrong or
nication which
they see fit regarding financial matters.
right, I don’t venture to say which; but if I,
5. No railway
seeking a fair
company can pay for shares or bonds in another return,
put money into a railway, and a
neighboring railway
railway or company, nor spend money on any
object outside of then buys half the shares to control aud work the
its statutory
line, not for
purposes, without special legislative
If its own advantage, but to throw profit on the
power.
this had been the law in
buying line, I am
America, some lately-prosperous com¬ robbed under form of law. There have
been such cases in the
panies would not now be in such trouble.
past, but there should be none in the future. No
6. The list of names and addresses
company can
of all shareholders is con¬ be taken
possession of by another in this country without con¬
stantly open to each of them, and must be
annually printed cor¬ sent of a three-fourths majority of votes.
rectly, and copies sold at five shillings each to
In discussing these
shareholders.
subjects, the great American mileage
This enables shareholders to see who are
their partners, to com¬ reported, as compared with the
English, will be quoted against
municate together, and on occasion
to organize
opposition against change. But the figures don’t admit of comparison, for Ameri¬
board measures or men. The
knowledge that this can be done cans reckon up all double tracks, sidings, stations, &c., as singlemakes it rarely needful and has a
track mileage, while the
constant
English report only the distance be¬
steadying effect.
tween termini; and
7. The voting is not
through this defect no one knows the total
simply by shares, as in America. Gener¬ length of track
laid, which is vastly greater than
appears,



,

68

BC..,,Hart

D.,M

RAILROAD BONDS.

0

QUOTATIONS OF RAILROAD BONDS,

January'. February

Mat.

April.

March.

.

B., Hart. & Erie, guar
& Erie, IstM

Buff.

-102

103

100

99-99
-103% 103 -106
93%- 98% 99%- 99% 99%-100% 97 - 97%
90
92%- 92% 90
'97* - 98*’ 97
98
97 - 97
98* 98%
87-90
88
87%- 88% 87-88
88%
77 - 80
82
84
78%- 79% 79%- 82
97
97
98%- 98%
97 -98
96
97-98
98 -100
96%
40
30
34
42
40
51%
59% 48
37%- 41
S8%- 46 ' 44%- 47%
'95' 95** 95
95
95 - 95
97%- 97%
92 - 94
94
92%- 94
96%
94% 95

-

97% 97

-

97
98

-

88%96
51
43

-

-

-

-

-

93

96

-

95
95
98

96

-94% 94-94

-

-

-

100

-100

96-97

94 - 96
95% 94-95
-103
98 -100%
-101" 100%-101
100%-103
96
- 90
98 ” 98%-100
96 - 96%
99%-100
98
94% 93%- 94% 94
92%- 95% 93
96% 95
99
98
98 -100
100%-102
98% 98
99%-101
94
96" 95
95-95
94% 96
95% 96 -97
do
2d M
99 -100 ‘ 100 -100
93
98 ’ 98
98
98 - 98%
do
3d M
97-98
98-98
96-97
98%-100
4th M.... 83%- 85
do
85
86
85-86
86
86% 86%- 87%
96
96-96
94
95
96-97
95-96
Clev., P. & Ash., new. 91
-

-

.

-

-

-

-

-

-

-

-

old..

Tol,

do

96
95

new
S. F

C., C. & Ind., 1st.
do

conv

Del. & Hud. C., 1st M
D. & Sioux City IstM
E. T.,Va.& Ga., IstM.
exten....

7s, 2d end., ’7ft..
7s, 3d end.,’83..
7s, 4th end., ’80.
7s, 5th end., ’88.
& Chic., exten..

Gt, West., IstM.,’8?..
do
2d M.,’93..
H. & St. Jo., Ld Gt...

conv....

Naples

-165*

m
97

-100

'96*

& Toledo

Erie, 1st M.

-

-

96
95

96
96
100

96-97
96 - 97

do

conv. & S. F.
Hud. R.r7s, 2d M.,S.F.

do
7s. 3d M
Ill. Cent., 7s,’75
Joliet & Chic., 1st M.
La Cr. & Mil.,8s,1st M

-

97'

92-94
92 - 92

103

-105

97%-101
96

-

*94*

-

105
96

Lake Shore Div
Lake Sh., con., coup,
do
do
r eg..

Morris & Es., 1st

P., Ft. W. & C., IstM.
2d M.
3d M.

88, eq’t

Qu. & Tol., 1st M.,’90.

So. Side, L. I., 1st M.
St. L. & I. M., 1st M..

St.L ,Jack.& Ch.lstM

Tol.,Peor. & W..E.D.

W.D.
2d M.
Bur. div

J?ol. & Wab., 1st ext.
tio
1st StL.div
do
2d M

equip
cons., conv

Union Pac., 1st M....
do
' L.G.7s..
do

Inc., 10s..

West. Un. Tele.,IstM
Winonn& St. P. istM




98
96

-

95*

94

-

-

81%- 82%

-102

-ioi

100

115

-115

-87
- 97

101
97
96

-100

97%
100%-101
95 - 95%
-

99
97
83
96

-101
-97
84
-

-

-

84-84

98% 97%- 99

-

98

S8-

94

-

-100%
-

-102

100
95%- 95% 92

-

101

T

!

_

95

-

r

96% 97 -98

94%- 95

95%- 96%

_

92*

-

93%

92'

-

-

95

94

-

•

96
-119
-

Bo

92
94

96% 96%- 98%

-

m

Q7

-112

114
97
100

-114
- 98
-102

- 99%
98%-101%
-104% 103 -104
-107% 106%-107
107%-108

94% 93 - 95
94% 92%- 93
88%- 89" 87%- 89

86% 87

QA

112

116%-ll8

-

95
93

-96

96

-

96

94% 94
94%
89%- 89% 89%- 90%
-

—

88

-

96%

92%- 94%
92

OA

yo

-

86

—

89

_

^

96
116

-

89
96

—

—

-

92
07

Q7

•

•

•

54
4l

41% 39
93% 93%97% 95
90% 8 2
82% 81

78

97%

95%- 95%
52

-

-

-

55%

-

-

-

-

-

-

-

....

.

-

-

....

....

-

-

85%- 85% 85

100

-101

-

85

-

95
100
93

99% 98

•

“

....

-

•

-102%

•

95

-

99
95

102%-10o
94

-

.

—

....

....

-

....

....

-

•

.

-103%
“*

••

90

-

••••

94

.

t

-

93%- 94

98%-10Q
94

-

95

102%-102%
87%- 88%
72%- 73

100%-100%
94

-100%
- 97
-103
- 92

*

100
97
94
94

-

94-94
99 - 99%
97 - 97
86
87

....

94

-

.

93-94

90-91
98
9».

....

-

94
100
95
103
91

-100
96

103

-

-

....

....

99%- 99%
94

.

-

-

....

.

•

93%- 97

-95%
-102
93

•

-

....

•

•

-

94

96%- 96%

97

92
.

-97
-

94

•

-101

-102**

100

-

97%

-

95

97
93
92
89

-

-

97%
96%

92
92%
93%- 93%
89%
99 -100% 100 -100
100 -100% 102 -102
92
95
98
93% 93% - 94%
95%- %
89 -89% 89
90
86
86%— 88
87%

H5%- 96

-

-

94

94

-

•

*

....

—

•

•

....

....

—

-

-

-

-

102

-102
-

....

....

99
86

...

83
101

-

—

83

-

-100
-

—

-100
87 - 89
85-85

...

..

98

89%

....

••••

—
....

.

.

—

97
104
101
100
101

....

-106
-102
-102

-101

-

•*

,t

87 - 8?
89 -90
96 - 97% 97-98
100 -101% 100 -100
100 -100
100 -100
100
94 - 95
95
94-95
92 - 94% 94%- 94% 94

-87%
97%
-

-100
-100

95%

-

94

-

qat/_ QQ

• ••--V

*

92

-

99
99
94
95

-

-

-

100

....

- 97
-104
—101
-101
-101

....

•

••••

-

....

•

•

•

-102

89%- 93%

98%- 99%

—

-107
106
-102 ' 102
-105
101
-100
100
96

—

..»•

-101% ior%-io2%

106
102
105
100
96
83
96
100

-

_

•

-

—

....

....

**

•

-

-

102
94

....

•

50

-

-

-

•

•

-

-

••••

••••

73
9?

-

-

—

95
50

-100

S8%- 89

-

-

—

95%- 98
92%- 94%
88
88%
84%- 86

-

-

-

-

-

100

97-97

....

-

-

90-90
-100
- 90
- 82

96 - 98
100 -100% 100 -100
100%-100%
94 - 95% 91%- 91% 93 - 93% 92%- 92%
95-97
98 —lOo
94%- 95% 95 - 97
95
95 - 97
96%- 96% 95
91% - 94%
100 -101,
97
97 - 99%
97% 98 - 99
98 - 90l
96
98
98-99
96 - 98%
83 -83% 82 - 82% 83%- 84
83%- 84
95 - 96% 95
92 - 93
97
93 - 94
95 - 97
96%- 96% 96%- 98
96 - 97
95
97
93 - 95
93 - 94
101 -101% 100%-101
101 -102% 100 -402%
92 %- 92% 91%- 92% 86 - 87% 86 - 87%
76 - 76
73
76
73 - 73% 72%- 73
100 -102
102 -103
102 -102
99 -100

-

-

96

39
92
96
89
82

40

94-94

-

-

-

-

-

-

&1%

-

-

-

92*

95
50

99

-101
-

84

19

-100% 96-96
101 -101
-103
92 - 93
- 92%

99

98

-

100
97

83k

-

-101%

—

98%- 99

-

88
78

97%- 97%

.

-

-102%
97 • -ICO
99%-101
102%-103% 103%-105
97
98% 97-97
94
95
94
95%

100
99

96%- 98

97%

—

....

101%-102%

93

96%

-

89%

98%

41%- 43%
96%
94
94%- 95
95
95%
97% 92%- 93%
88% 86-88
89
82%- 82%
80%- 82
99%-100
99%-100% ‘100 -100% 101%-102%
110 -110
108 -10 i
110
112 -113%
100%-101% 101 -101% 104%-!02
102%-103%
100
-1UU
100 -100% 97
98% 97-98
105 -105
103 -106
103 -103% 103 -104
97
97
94 - 94% 94-95
94
94
93
90
93
02
90
93% 92
93%
95
98-99
96% 96%- 98
99%-100

95%- 9G
83

82

-

—

38
95

101%-101% 1C1%-102%

-

-

-

88

•

51%- 54

4P%- 42%
96

•

—*

—

-

106

-100

83

•

.

-

-

-

*99%-l66%
-105*'

102

100^-ICO
101
104

-102%
-106

...

*87*

-

-

87**

92 - 93% 93 - 93
100 -100
100 -100
99 - 99% 98%- 98%
95-96
89 - 93
90 - 91% 90-91

93
99

99%
94
95

__

—

113 -116
115 -117
114 -115
116 -116% 112 -113% 113%-115
112 -115
98 - 99
95 - 97%
98%- 99% 97 - 99% 97
97% 98 -100
96%- 97
102 -103% 101 -102
102 -102% 101%—102
102 -203% 100 -100% 10n%-102
105 -106f? 101 -107
108 -109
107 -108
106 -106
106%-107 106%-106%
95 - 97% 92%- 94^
97-98
93 - 93
93 - 94% 93 - 93%
94%- 95% 92 - 92% 91%- 96% 92 -92% 92 - 92% 92 - 92% 93-94
87 - 87% 87 - 87% 87%- 88
89 - 91
87 - 87
88% - 89% 89 - 89%
83 — 83% 84 %- 85
85 -85
83-83
—
84 - 84
85%- 86
95%- 96% 96%.- 97% 95 - 93
98%- 98%
103%-104% 106 -107 102%-103 105 -103% 103 -105% 100%-102 103 -103%
96
96 - 97
96 - 97
100%-101% 98 — 99
97%
99%-100
96%- 97%
92 - 92% 91
92 - 95
95 - 95
91
90 - 92
91 - 91
95 - 95
85
85
93 - 94% 94%- 95
91 - 91
9J - 90
‘90‘ - 90*
-

•*•

—

•

•

....

....

_

103%-105% 105 -106 104 -104% I04%-106% 102%-103%
99
-101% 98 - 99% 97%- 98
99%
99% 99

do
2d
99
do
conv...
do
constr..
do
78 of ’71
Nashv & Decatur....
N. J. Cent., 2d M
102
do
new
106
N. J. South., 1st M... 05
N. Y. Cent., 6s, ’83.... 93
do
88
6s, ’87...
do
6s, R. E.. 83
do
6s, sub... 88
do
7s,’76. .. 103
do
7s.con,’76 100
do
7s, ’65-’76 100
N. Y. &N.H. 6s
97

No. Mo., IstM
Ohio & Miss., 1st M..
do
consol.,
do
2d M...
Pnc. 7s, guar, by Mo..
Peninsular

98%- 99%
96%- 99

82

-

....

100

—

-

-101
95

-

82%

•

....

—

78, gold....

do
do

100
96

95

Mich. So., 7s, 2d M.... 98 - 99
99
99%-100
M.S. &N. I., S. F..7s 102 -104
K)2VT-104 104
Mil. & S. P., 1st M., 8s 108%-110% 106%-107% 107
IstM. 7 3-10
IstM
I. & M. D..
2d M

99
96

-

-

-

100

.

-

do

-

92

94-94

“*

94
95%- 95%
93
92%- 93
92%- 93
93%- 94% 94%- 95
92%- 93
102 “-103
100%-102
102%-103 103%-I03% 99%-100% 102 -103 102 -102 102 -103
95%- 98% 98
97% 98-98
99% 95
99%-100
101%-102
102%-102% 102 -103
92
96
96
98" 93
95% 95
95% 96%- 99% 99%- 99% 99%~ 99% 96
99%
95
93
94
89%- 93
95
92%- 92% 91 - 95
91%- 93
95%
94% 94-98
85 - 91
91
86 - 92
92
92 - 9G
92
94
91%- 92
93% 94
105 -107
103%-104% 100 -104% 104%-105 104%-105 IOO -ICO 100 -100 100 -101
95
99% 94%- 9654 94 - 95 .95 - 96
96%- 96% 96%- 9S% 98
93%
98% 93
89 - 89
85%- 89
91
90%- 92% 88%- 89% 88%- 90% 90
89%- 89% 89%- 90
103 -103
100 -100
102 -103
108 -10S
101 -402
102 -103
100 -100% 100 -100
90
91
92
95%- 99
97% 91 - 92
91%- 91% 91%- 91% 92%- 93% 93% - 93%
90 - 91%
88 - 89
91
87%- 89
“
91% 90% — 90%
88
88%
88% 85
101 -101
101%-102% 101%-103 103 -103% 99%-100% io6%-ioi% 101%-101% 101%-101%
93
97
93"- 97
93
—
93% 94%- 95
95%- 95% 95%- 95%
104 -106
106 -107
105 -105
105%—106% 106 -106% 103 -106% 103%-104 105 -105
101 -101
102 -104
101 -101% 101%-103
101 -101%
100 -100% 100%-101
101 -102
103 -104% 104%-104% 103%-1C4
103 -103% 103 -104
104 -104% 104 -104% 104%-104%
107 -107
107"-lu7 ' 105 -106 106 -108 108 -108% 109 -109 104 -104 104 -104
95
95 - 96
95
94%- 95

Long Dock
*90%- 93*
Long Island, 1st M,7s.
Mar. &Cin., IstM
*96* 96*'
Mich. Cent., 1st M, 8s 115 -115

do
do

98

-

-106
- 97

97

**

La., Bloom.&Miss. 1st

do

98

-

-

98

-IOO**

99

99%

98
$4

-

-

98

57

-

—

-

....

do
do

97

■

Ceni.'Mo 1st M
Uarlem, 1st M

do
do
do
do
do

-98
96

_

2d M...

7s,

-

-

C.,C.,C.&I.lst7s,S.F
Cin., Laf. & Ch., 1st M
Del.,L. & W., IstM..

^ do

November Decenlkbo

•

98

-

91
81

•

97%- 91%

62%
41%- 42%
45
97
97% 97
95
94%- 95%

.

•

-100
-

-100
-100

96*

82

'

2d

do
do

-

98

95%- 9S%

96
99

146
97

57

-106
95 - 98
94-97
101 -101
97 - 97

84

-

100
99

97%-100

98

-

100
94

-

96%
99% 95%- 97
96
96-96
96%- 97
102 -103
-101
100 -101
100%-103
102%-103
102%-103% 102%-103
89%- 93% 92"- 93% 92%- 93% 89 %- 89% 89%- 90% 90%- 91
91%- 93%
72 - 73
71-72
77
76
77
78
80
71%- 75% 77
78% 79
101 -101% 101 -102
-

do

-

-

.

-

96%- 98%

81

-106% 105

.

99

92%- 93%

-

105

-

96
97

84 -.85% 86
86%
102% T04% 104%-I05
113 -115
112% 113
102%-104
104%-104%

95-96

98

-

-

-

91
91
102
92

96
60

97

-

-

-

-

-

52%
47% 10%97%- 97% 97
96
97% 94

-

-

97%

-

S0%- 81% 80%- 81
98%- 98% 98%-100

-

-

-

97

96
* 96
99% 100 -100
91-92
01

-

-

-

do
Income
Chic. & Mil., 1st
Chic. & N. W., S.F..
do
interest,
do
consol...
do
IstM...
Cleve. & P., con., S.F.

-102% 103%-103%

-

&*Erie, new
Buff., N.Y.& E.,lst,T77
Bur., C R. & Minn...
Ced. Falls &M., IstM 80*
84% 83
83% 83%- 83% 83 %- 84%
Cent. Pacific, gold... 100 -102% 102%-102% 101"-102% 101%-103
B. & Q., 8s, 1st M. 109%-113% 113 ’-116 ' 113 -114 113 -113%
101 -103% 102 -102% 101%-102
C\, R. I. & Pacific
101%-102%
Chic. & Alton, S. F... 98
98% 98 -100” 100 -100 100 -100
do
1st M. 102%—104
104%-105
1U3%-104% 105 -105%

Hau.&

September October.

August.

—

do
2d.,
do
3d..
Alton & T. H., 1st—
do
2d pref.
do
2d inc
Am. Dock & Imp. Co.
Bellville & So. Ill....

Ham &

July.

June.

Low.High. Low.High Low.High. Low.High. Low.High. Low.High. Low.High. Low.High. Low.High. Low.High. Low.High. Low.High.

Alb. & Susqueh., 1st., 101

do
do
do
do
Gal.

TO 1877, INCLUSIVE.

1S72.

BONDS.

Clev. &

1872

Compile! from prices bid each Friday at the N. Y, Stock Exchange.

-

95

91

-

91

-

95

91-91

95

—

95

93

-

-

93%

-

-

-

—

—

-102

103%-104
■107% 100%-102

-

-

102
104
65
93
91

-103% 103 -103
-104% 101%-104%

—

100
104
77
91

-160%

89
100

89
-101
-

-104% 104%-106
-81% 78 - 80

86%- 89
100%-100%
106
78
93

98%- 98%
86%- 89%
99

-107% 103

99
-104
- 78
-

98%- 98%
87
100
102
75
91
90
87
88
100

89%

-

-100
-103

98% - 98%

....

-

....

....

ioo -166

—

....

-

....

r...

l66* -l66“

J02^5 -I02>$ 102%-103
65
65
65
80
79
80
75
75-79
78% 78
72%- 72%
96
94
98-96
- 94
- 92%
95
92
92
92 - 92% 89
91
91 - 92%
96% 90%- 95
94%
92
92
94
94
91
93% 93%- 94
92
9 2 - 92
90%- 90%
93%- 96
94% 94%- 95
92% 88-89
91
91
91
90-91
90
85-90
88-88
90
88-90
87
89%- 91
85-86
88-90
85%- 88%
91
91 - 91% 90' - 91% 90
91
90
85
89
88
88
92
88-90
88
86
86
86
88%- 90
68%
■104
101 -104" 100%-102 ” 101%-102% 101 -102
96 -100%
101 -102% 100 -100
100 -100% 100%-10(>%
-100% 1C0%-101
ino
t no
■100
100 -100
100 -100
96
—
100 -100
102 -102
100 —lOOJ^ 100%-100%
96%
■100
102 -102
100 -100
96
100 -100
100 -100
102 -102
100 -100% 100%-100%
96%
100 -100
96
99
96 -97
98-99
98 - 99
98
■98% 98%-iOO
95 - 96
95
99
99%
01\s
011/
UO
Q1
Q9V
Q91/'
qaxj'- 0^
93
yu
1
85%y*Js
101 -102
98%- ■99% 99 - 99# 99%-100 100 -101
95 - 97
93 -95
95
96
95% 96
102%-103% 96%- 97
9S%- 95%
92
94
94
93 - 93% 92
95
•93% 91%- 93% 93 • 94
94%- 94% 95
94-94
97% 98%- 99% 96%- 96% 91-94
86
84 - 85
82%- 86
87 -87% 83%- 84% 83>$— 84>$ 84
86% 86%- 87
88% 86%- 87
84% 84% 87% - 88% 88
84%
99
99 - 99% 99 -100
100 -101
•100% 99 -100
101 -102
97
96-96
95-97
98%- 98% 95
98, r95
97%‘ 98
95 -95
92%- 92% 95 - 95
95
9S
90
90-95
91%- 95
90
91%- 91%
105 -105% 105%-107
104%- •105 102 -105% 103 -rl05 105 -106
105%-107% 104%-103 104%-105 103 -104 103 -104 104 -104%
100 - 103
96 -103" 100 -102% 100 -101% 101 -101
99 -100
97
99%- 99% 99%- 99% 98 - 99
101%-102
98% 98 - 98%
95
98
95
95 - 95
95
98 - 98% 98-98
95
—
95
97
95
95
93 - 93
95
93
93
100
■101%
101 -101% 100 -101
96
96
97-97
98
98
100%-101
90
92
- 92*
92
*91*
93 - 93
92
92%- 93%
92
89 -89
94% 88%- 91% 92%- 92%
91 - 93
93
93 - 93
90
93
90
90
94
92
92
94
90
90
93
—
95% 9S - 98
93%
96 - 98
92
98
97
93 -100
92
94% 95
94% 94
95% 98
99%-100% 95
95% 93
94% 93 - 94% 94%- 96
93 - 95% 95
92
95 ' 95%- 97
92
92
94
94 - 94% 94%- 94% 94 - 94
90 - 90
90
94%- 95
90% 91%- 91%
92-96
93 - 93% 93%- 93% 93 - 95
93%- 94
.’.
93-94
93
92
92
y2
93
94
91%- 92 ‘4
89
93
90 -91
90%- 91% 91
88-88
91% 91
87 — 88% 88' - 83*’
92% 92%- 93% 93%- 93% 89 - 89
79
84
85
■82% 83 - 84% 84%- 87
86
84% 82
Ft)
80
80-80
84% 84%- 84% 84%- 86%
tt0%- 81
88 -88
83
88
84%- ■86% 84-87
87
86%- 87
81 - 83
87% 88%- 88% 87%- 88% 87%- 87%
98 - ■101% 96%- 99% 97
97
97 - 97% 97 - 99
99
94
95
97% 97
97 - 99
99% 94%- 95
94% !!4
95% - 96
94
87
89%- 90% 89 - 90% 90%- 91% 91 %- 92% 93%- 93% 93%- 94
88
88 - 88% 89 - 89% 90%- 91%
8!)%- 90
92
94
94 - 94% 94 - 94% 93
96
91
92%- 93
94% 83 - 94% 91.
92%- 93% 94
94% 94 - 94
92% 91%- 92
S3 ■ 86
86 - 86 ' 86 - 87* 87
86
86 - 86%^ 88
88
86
87 t- 88
86
82-83
88% 86
85%- 86 ■ 83 — 84
89
88%- ■90% 88-89
88-88
89%- 99^ 91 %- 92
85 - 87%
91% 91 - 93% 91%- 92% 89%- 89%
90*- 93% 91
92% 91 %- 91% 90%- 93
92%- 93
93%- 94% 89 - 91
88%- 89% 86%- 88% 8G%- 89
86%- 88% 89* - ni*
79%- ■83% 80%- 82% 81%- 84% 80%- 81% 80%- 81% 81
81% 81%- 81% S0%- 81% 79%- 80% 75%- 77% 76%- 77% 77%- 70
84
88
84-87
85
82
81%- 85
85%- 87
87% 86%- 87% 87 - 87% 86%- 87% 7b
80% 78
80% 77 - 81% 81
96
90 ■ 96
96 - 96
95
96 - 97% 92%- 95
97
94
95
95% - 95% 96% - 96% 96
97% 95
03% - 96%
93% 93
89 - 89
85
..771 39 -89
89
85-85
84%- 84%l 84%- 88
■

-

-

•

-

■

-

-

-

-

-

-

-

-

-

-

-

-

■

-

-

-

-

-

....

-

-

•

—

—

-

-

-

-

-

—

-

-

’

-

-

....

101%-103

-

.

,

-

—

mm

....

-

....

-

....

....

-

....

—

v

—

-

-

-

-

—

•

-

-

-

-

-

-

-

-

•

...

—

....

...

-

....

-

■

-

-

-

-

....

-

-

....

—

•

•

-

•

■

•

-

-

-

-

-

-

-

•

•

-

-

....

-

-

-

•

-

-

-

-

—

-

-

■

-

-

....

....

....

-

-

■

....

•

-

-

-

-

-

-

-

.

-

-

-

-

—

-

•

•

•

•

....

-

-

...

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

...

-

-

■

-

-

-

-

.

.

-

-

-

-

-

-

—

....

•

•

.

•

...

-

-

....

...

—

.

.

RAILROAD BONDS.

59

1573.

BONDS.

June.

May.

April.

March.

January February

July.

c
September October. November December

August.

Low.High Low.High. Low.High. Low.High. Low.High. Low.High. Low.High. Low.High. Low.High. Low.High. Low.High. Low.High,
do
2d...
do
3d...
Alton & T. H., 1st...
•

do
2d pref.
do
2d inc.
Am. D. & Imp. Co. 7s
Bellev’le & S.I11 lst8s

B., Hart. & Erie,

guar
lstm.

do
Buffalo &

Erie, new..
Buff.,N.Y.& E., 1st m
Bur., C. R. & Minn 7s
Ced. Falls &M. 1st M.

Central Pacific, gold.
do

State Aid

C.,B.
8s, 1st M.
C., R. I. <£ Pacific...
Chicago & Alton,S.F.

consol.

exten.
do
1st M.
do coup., gold
Clevc. & P., con. S.F.
do
2d M....
do
3d M....
do
4th M...

102

-101

-

99

99

-

-100
-90

57

95
58

-61

40#- 44#
95 - 96%
93
93 "
87#- 91%
79
81 '
99#-100
110#-110#
107#-111
-

'-101%
"

98
“102
- 95
-

-

-

-

-

-

-

•

•

•

•

97
48

-

-

-

80

80#- 81#

81

-

79

97# 97#- 98

96#- 97#
95 — 95#
-95
95 - 95
-101
98
98
99#- 99#
- 90#
90 - 90# x87 - 87#
77
79
78# 78 - 78#
95#- 96# 96#- 96#
95 - 97
97
98
95#- 97

80#

-

80

81

-

111#-112# 111 -111#
109 -110# 109#-1K)# 109 -111# Ill -112
101 #-192
101#-103# 103#-103# 103#-104
100 -102
x98 - 98#
98 -101
98 -98
103 -104# 102 -105
102 -192# 101#-103
94 - 95
95 - 96# 96 - 97
*".••••
95
95
92
92# 93
94#
99 -101#
98 -100
97 -105
98 - 99
94
96 - 96
97 - 97
96#- 97
94#
88#- 89
90#- 92# 90#- 90#
90-00
88-90
88#- 91
98 -10i#
97 -100
98 -99# 98 -100
93#- 93#

-

46

46

-

29#- 34

40
30
96

-

•••

-

....

....

-

....

....

85
75

-

40-40

-45

-

....

95

86#
76#
....

-95
-

....

-100

—

97
93

-

96

....

-

....

-

92

....

-

....

8S - 2?
75-77

-100# 99#-100# 99#

-

99#

104#-10G# 102#-102# 101#-102# ioi

-ioi

—

102

-110

-110

100

100 -100
98#-100
104#-106 - 102#-105
94#- 95# 95 - 96

-100

100

-100

-

30-30

25#-28#

90-92

89#- 89#
40-50
71-72

....

92#- 96#
100#-100#

-100
-108

109

102
98
103

96#-102
95

-

95

-109#
-104#
-100

-

-

-

70
89

—

100 -102
88 -88
90-93

87-88

-

-

97 -97
84 - 86#
90 - 90
90-90
90 - 90
95 - 98
75 - 82#
-

....

..

97#- 97'#

..

90-91
—

95 - 95# 96-98
80-84
85#- 88
88-88
90-92
93 - 95
97-99
84-84
90-93
97 -100
100 -102

76#- 79# 80#- 84%
45-60
95 - 95#

61-65

98#- 99#

—

mm

98# 97 -100# 101 -103#
96
97
97
98#-100
90
96# 93-96
93#- 95
90
90
95
90
95#- 96
90 -102
99 -ICO# 100 -101#
96
96

....

-

-

-

-

-

-

....

....

-

....

...

...

....

79#- 79#

88-88

9CT

-

_

.

75-80
95-99

—

....

.

8 i
96

80#- 80#
90

..

....

.

-100

....

-

....

..

99#

-

-

....

—

.

100
-105# 105

72#

86X-80J*

69#- 70
92# 80-92

-100

....

-

..

70

-

•«

-

.

.

-

•

-

...

....

-

•

-100

70

- 90
-87

....

""

•

-

-

....

.

60

•

103 -103# 100#-100# 100#-101
-104
103#-105
95
90-91
90-90
97# 96 -96
90#- 91#
92
95
96
92 - 92
93
90 - 91# 92
93
1... 87#- 90
100 -102
99
101 -102
99
98 -100
100 -101
88-98
90#- 97
9G
85-85
90
85-88
94#- 95
94#- 94# 94#- 96# 93
92#
91
86 -86
80 -82
8a#- 90# 91 -92# 91 - 92# 91
78#- 87

..

—

-

60
70
85
100
105
95
99

-107

109

—

89
85

-

107

-113

....

•

99

82 - 82#
67 - 70
90-90
85 -85

96
90

-

—

112

•

20#- 24

85-88
78#- 79

-

91-96

....

30#- 31# 20#- 24

—

_

25-25

....

99#-101

92#- 97

92#- 92#

101 -101# 97 -99
99-99
9J -90
90 - 90
89#- 92#
95 - 95
94-94
96- - 96
90-90
93 -94
94 - 94
99 #-100# 100#-101# 102 • -102
ioi -101# 98 - 99
98 - 99
99#-101
98 - 98# 98 - 99# 96 - 97# 95 - 98# 98#- 98# 98 - 98# 95 - 93#
97 - 97# 97 - 99
85-85
85#- 87# 81 - 87
84#- 84# 85 - 86# 87 - 87
83#- 83# 83#- 84# 84#- 86
97 - 97# 96-96
92 - 92# 93 - 93# 93#- 94# 94#- 97
96-06
96 - 96
Clcv., P. & Asli., new 94 - 97
96 - 97
97 - 97# 97#- 98# 98 - 98# 98-99
do
97 - 98
old. 96 - 97
97#- 99 h; 96 - 97
94 - 95# 95 - 96
95 - 95# 94 - 95# 92 - 93
95 - 95
Cleve & Tol., new ... 94 - 95
93#- 93# 93 -94
102 -103# 103 -104
101 -102
100 -101# 100 -101
do
S.F... 99 -102
100%-100# 101 -101#
89 •- 89#
€., C. & I. C., 1st...
87#- 89# 89#- 91# 91#- 91# 85#- 86# 87#- 89# 88 - 88# 88#- 88# 88#- 90
69 - 69
do
2d
70#- 71# 71#- 72 x08 - 70
70#- 73
72#- 76# 72 - 73# 71#- 73
73#- 76
104 -104
102 -102
101 -103
101#-102# 101#-101# 99 -103 100 -103
C.,C.,C. &I., 1st7sSF 101 -102
81 - 81
83 - 83#
Ciii.,Laf. &Ch.IstM.
101 -103
103 -104
98 -100# 100 -102
98 -102
102#-103
Del., L. & W., 1st M. 98 -99
95 - 97
97 - 97
do
2dM. 95 - 96 < 95#- 97
99#-101
101#-102# 103#-104# 101 -101
97#- 99
100 -102# 95 - 98# 99 -100# 100 -1001; 95 - 95
do
98
96 -98
100
7s, conv. 97#- 98
97#- 99
96 - 97
97 - 97# 97#- 97# 97 -100
93 - 96
D.. M. & Toledo
97 '- 98
95#- 98# 96 - 96# 95#- 97
Dei. & Hud. C., IstM 101 -101# 101 -101# 101 -102
102#-102# 103 -104# 104 -104 102 -102 100 -ICO 102 -102
93 - 93
89 - 90
93 - 93
B. & Sioux CitvlstM 90-90
90 - 94
92 - 93
—
85-85
93 - 93# 88 - 89
83 - 88
85 - 85
do
2d div.
—
101 -101# 101 #-102# 102#-103
102 -103# 100#-101# 101#-102
102#-103# 103#-104 104 -1W.Erie, 1st M. exten
100 -100
do
98 - 99
98 - 99
1st M., end.- 99#- 99#. 98 - 98
100 -100
do 7s, 2d M.t ’79... 97 - 99
99 -102# 99#-100
102#-102#
99#- 09# 100#-100#
101
-101
do 7s, 3d M.,’83... 96 - 98
97 - 98# 98 -100
98 -100
100#-101# 101 -101# 97#- 97#
97#- 98
do 7s’ 4th M., ’80... 92#- 96
.;
95 - 97# 98 -101# 97 - 98
97#- 98# 96#- 97# 97#- 98
98 - 99# 95 - 95# 95#- 98
do 7s, 5th M., ’-88.. 90#- 93# 93#- 94# 97 -100
97 - 98# 95 - 95
98#-100
do do cons. M, gold 93#- 95
90 - 90
93 - 96
97#- 97# 96 - 96
ior -103
ioi -103# 102 -103# 100 -102
Gal. & Chi'*., exten.. 100 -101
100 -101
101 -103
100#-101
96 - 96
97 - 98
do
99 - 99
98 - 98# 98 - 98
98 - 98
2d M
96 - 97
96#- 97# 97#- 98
95 - 97
x93 - 93
97 - 97
94 - 94#
93 - 97
94 - 94# .94 - 94# 95 - 95
G. Western, 1st M,’88 96 - 97
do 2dM.,’93. 86 - 87# 88 -89
85#- 87# 88 - 88# 87 - 87 *
88#- 89
89#- 89# 85#- 88
104 -105
100 -101
104 -104
101 -105
II. & St. Jo., Ld. G.. 100 -101
101 -101# 100 -100
104#-104# 104 -104
90 - 91# 82 - 85
do 8s, conv..
85#- 86# 87 - 89
87#- 90
92#- 92# 92#- 94
87#- 89# 86#- 88
85 - 85# ..., 84
flan. & Naples, IstM
86 - 86# 86 -87
88-88
• 84
84#- 84#
82 - 82
llan.& Cent. Mo.lstM
82 -82
82#- 83#
81#- 82
101 #-102# 101 #-102# 102 -103
Jlarlem, 1st M. 7s
100 -100
100 -100
do con. M.S.F6s. 90 - 90
90-90
100 -101
90 - 99
97 - 98
ioi -104
IIud.R.7s,2dM, SF,’85 102 -103
103#-104# 102#-104# 104 -104# 104#-105# 104 -106# 104 -104# 101 -104
100 -100#
102 -102#
do
101 -101# 101 -101
100 -102
7s, 3d M.,’75.. 100 -100# 100 -101
101 -102
Ill. Cent., 7s, ’75
100 -102
100 -100
101#-103# 103 -104 104 -104# 100 -101# 101 -102 100 -lot
88 -88
111. & So. Iowa, 1st M.
91 - 91
88-90
87 -87
88-88
89 - 90
—
—
Iowa Mid 1st 8s
95 - 95
Joliet & Chic., 1st M. 100 -100
102 -102
104 -105
104 -104
103 -104
1O7#-107# 105 -107# 103 -103# 103 -103
La Cr.& Mil., 8s, IstM
93#- 93#
84 - 88
80 - 80
84-84
86 - 86
84 - 94
La., Bl. & Miss., 1st.. 87 - 89’
Lake Shore dividend 93 - 93# 94 - 95
92#- 93# 93 - 94?* 94 - 95# 95 - 95# 95 - 06
95#- 96# 91 - 93
do
;... 99#- 99# 97 - 98
con., coup 96#- 97# 98 -100# 99-99
98#- 99
98#-100#
do
do
reg. 97 - 97 £ 98#- 96# 99 - 99# 93 - 98# 99 - 99# 99#- 99# 97#- 97#
92 -92
95 - 95#
95- 95# 94 - 95
Long Dock
92#- 95# 95 - 95# 95#- 97
96#- 98# 95 - 96
89 - 92
89 - 89
92 - 92
96 - 96
92 - 93
—
Long Island, 1st M 7s 91 - 91
Mar. & Gin., 1st M .
91 - 95
90 - 90
90-90
90 - 90
101#-101# 101 -102
100 -100
99 - 99
Mich. C., cons.7s, 1902
100 -100
98 - 98# i 98#- 99#; 98#- 98#
98#- 99
do
1st M 8s, ’82 lii -114# 114#-115# 115 -116
i09 -114 111 -112# 112 -114# 112 -115 1 112 -112 1 112#-114
Mich. So., 7s, 2d M.. 96#- 98# 98 - 99
99 - 99# 99 - 99#
98#- 99# 99 - 99# 97 - 98
98#- 98# 98#- 99
M. S. & N. I., S. F.,7e 101#-103
103 -103# 103#-105
104#-104# 103#-103#
104#-104# 100#-102# 102 -103 102#-104
2vL& St.P..lstM 8s,PD 105#-108
104 #-105# 105#—106
106 -107# 108 -108
xlOO -106
109#-109# 109 -110
do IstM 73-10PI) 93*- 95# 92#- 95# 93 - 93
94 - 96
92 - 94# 93#- 95
95 - 95
98#- 98# 93 - 93
—
88 - 88
—
88-88
do, 7s, gold, R. D. 95 - 95
92#- 92# 91 - 92# 88#- 89
do 1st M, La C. D 90#- 91# 91#- 91# 89#- 91# 88#- 89
91 - 91# 92#- 93# 90#- 91# 85 - 90
85 - 8a \
do 1st M., I.&MD
86 - 86# 86#- 86# 84 - 84# 84 - 84# 84#- 84# 80 - 81# 80#- 81
81 - 81

98

90-94
76 -.82
69 - 75
89 - 89

-

....

96
92

-

100

-

99

....

30#- 34#

33#
94-96
97#
92#- 92# 92#- 93#
88 — 88# 87#- 88
80#- 81# 78
79#
-

—

-

-

-

-

....

99

....

97-98
90-90

98-98
-92

97#- 97# 88
95#- 95#

-

103#-103# 102#-103# 102#-103# 102#-103#

•

91%
-102 '
96#
90#- 92''
91 -91#
-

“

•

•

95
45

-96

96

38#- 41
34#- 38
38#- 40
93
94#
95#- 98# 92#- 93
94
96
93#- 95
93# 94-94
92# 87 - 89# 88 - 89# 85#- 89#

101 #-194#

-100
-

....

96-96
59 -59

96
58

37#- 42#
96#- 98
92
90

100

99# 96#- 971' 91'#- 97# 97
95
- 93#
93#- 05
92#- 96
98 -100# 101
99 -100# 100 -100
88
87#- 88 x88 -88
88#- 89
77
78
81 -81# 80 -80# 75
96
96
96#- 96# 84#- 84#

-69# 88
-80# 80#- 82#
95 - 96#
- 97

88

-ICO

100

-102

96# 96#- 96# 98
93
92
92#- 93

-

79
94

100
98
do
IstM. 100
do
'income. 95
Chic. & Mil., 1st
91
Chic. & N. W., S. F.. 100
do
interest. 94

do
do

101

-101

98
94
90
98

Albany & Susq., 1st.,

-

....

....

98

75
96

94-94

95

96

-

-

87#- 87#

...

75
98

....

100

-

..

.

-100#

mm

.

ioi#-i02

i03#-104
....

—

mm

....

.

-

90#- 92# 94
90
91# 89

-

90

91

98
97
91
79

98-99
100 -102
95 - 95
90 - 92
89 - 90# 92#- 94
78 - 79#
72#- 78
90-90
60 - 75# 76 - 78#

—

95
91
85
75

...

-

....

....

....

mm

96-96
92-95
90-91

91

-

—

....

96#- 96#

-91#
- 92#

-

....

95
94

....

70
70

....

-

—

-

....

71
70

....

...

....

—

-

....

—

ior»#-io6#

-

90-90
100 -102

-90
-104

90
103

98 - 99#
106#-!06#

-

....

..

.

....

T

....

...

....

....

95

....

....

—

....

-

....

....

...

....

80
85
102

86
87
87
86

...

—86
-87
92
- 95

81

-

88

....

....

...

....

-

....

..

....

....

.

•do

1st

M., T. & T).

do IstM., H. &D
do IstM., C.&M.
do 2dM., C.&M.
do Iowa D
do 2d M, I.&MD

—

.

-

....

94-94

90#- 92
89#- 92#

....

90#- 91#

..

9i

-

.

.,

86#- 86#

2d

98

89#- 90

constr.
7s of ’71

N. J. Cent,

80#- 80# 83-83
...

-

i

90

•

•

86

•

•

—

-

95

-

95

95

South., 1st M,7s 73#- 73#
N. Y. Cent., 6s, ’83.
92#- 93#
..

N. Y. & N.H. 6s
North Mo., 1st M
Ohio & Miss, cons. SF
do
1st M
do
consol.
do
2d cons
Pac. R. 7s, guar by Mo
Pac. of Mo,1st 6s,g.’88

Pekin, Lin. & D,lstM
Peninsular, 1st, conv.

S8#- 89

.

94

-

102

-

96

-101#
-102
- 90
- 75

-107

87#- 91
90 - 91#

1

95-99

98
101
92

100#-101#
80
70

-81
- 79

-

-

81
66
75

-

-

87

82

-

-

83

77#- 78

91
87
87

-

-

91
89
87

100#-102
100#-100#
100#-100!*;

113#-113#
99

-100

72
93
91
87
87
100
100
100
118
100

-

-

-

92

-

92#

91#- 92
84#- 85#

.

96

-

97

87#- 90
86#- 81'
95
104

95
-105

/

92

-

73
94
92

87
87
-102
-

-118
-100

-

90

- 91#
93#- 94#

-

75

82-82

....

-

....

....

-

...

93#
76# 82#- 84#
85# 88 - 90#
73# 75 - 78

-75

71

-

80
73
74
74

79

73#- 73#

-

-

80
73
79

-79
—

—

mam

—

-

—

93

105
95

-105#
-

^103# 99 -101# 102 -103
93#- 96# 95 - 96# 96#- 99

102

95

>

80-80

—

80-80

f

90-90

90-90

-

f(

—

^.

74

-104

102

103#-105# 105#-IG7#
_

76
73
74
75#- 78# 74
94#- 94# 94
94# 91#- 92# 90#- 93
91
9i - 92
91#- 92# 91
91# 91
87 - 90
87
89
90
87# 87-88
87 - 90
89 - SO
87 - 87# 87-88
98 -102
101 -101# 101 -101# 101 #-103
-

75

-

-

-

-

-

-

-

103
-107# 104 #-105
99#- 99# 100 -100
70 - 73# 73
74# 71

107

91 - 93
91 -92
90-90
90 - 91

102#-103#

99#-101
-100#

_

.

....

-

100

-100

.

.

97

-

.

.

97

—

-

-

97

....

....

-100

93#- 93# 93#

93

-

.

.

92

92#
88%- 88#
97
97#
-

-

86

-

86
98

87#

91

92# 93
84#- 85# 8-1
96
87

-

-

97

-87

98

-

-

...

-100

97

101

__

95#

95

.

.

-

95#

-

...

-

92
91
90
9.)
ICO

-

-

....

•97

-

—

-

....

—

....

-98 -100

...

.

.

94

91#- 91# 90#- 90#

-

85

91

-

...

-

91

-...

-

95

-

.

,.

-

-

-

....

....

....

70
83
85

-

_

90 - 95 :
90-90
95 - 95
95 - 95
105 -108# 106 -106# 106#-108
104 -106# i04 -106
100 -105#
101 -101# 101 #-104
99-99
100 -101
100#-101
100 -104
92 - 92
92 - 92
93 - 93# 95 - 06# 95 - 96# 94#- 94#
98 - 98
103 -103
100 -103# 100 -100
98 - 98
91 ~ 91
90-92
92-92
91#- 92
91#- 91# 90-92
_

.

-

■

mmmmm^Zmm

-

-

....

—

••

97-98

88#

89

....

—

....

....

.

98#
83#
...

—

....

74

-

72

-

—

95

-91

88#- 89#
74 - 77#
97
98#

86-86
70-72

80-80

-

••••

•

70

78

100#-102#
-

"*
*

92#- 95#

....

91
-85

-

•••

-

—

95
81
95

91/

82#- 83
....

91# 91#- 91# 90-90
84#- 84# 83 - 84# m - 83
96
97
95 - 96
95#- 9?
85#— 86# 83
84#

-

87-90
83-87
83-87
102 -102
102 -102

83

-

-

90

....

95#- 97

88-88

....

—

35-35

•

..

..

91#- 92
91

40 - 40#
86-89
&5 -89
80-81
81 -81

r

,

...

97

-104

101

_

50 - 67
88 - 91#
87
-87
85-90
85-90

73
92
92
90
91

-100#
.

-101

.

94#- 95
84# 81 -84%
98# 98#- 99#
-

#<

-10i

99

9

_

95

85

—

,

__

_

-

91 -94
91 -9288-90
88-90

—

—

-104# 100#-102

100

-

-

62#

-101
-106

-

..

-

-

#-104# 103#-105# 101#-101# 104 -105#
93 - 98#
07#- 89# 98#- 99# 101 -103
_

-100#
-100#

91#- 92#
86#- 87#
93 - 98,#
83 - 90#
86
98
104

71

—

95

-

-

78# 79

101

_

93#- 93# 92#- 93#

...

-

—

__

....

....

78

-108

1105

_

-105# 104 -105
- 97#
97 - 97

GO - 91#
-106# 104#-106#
do
95 - 96# 96#- 98# 98#- 99
2d M
do
94#- 95# 95#- 95#
} 3d M .. 93 - 93
do
8s, eq’t 99#-101
97
99
100#-101
On. & Tol., 1st M, ’90 90
90 ' 91
91
90-92

P., Ft. W.&C.,lstM




77

__

6s,’87....
6s, R. E..
6s, sub..
7s,’76....
7s,conv’76
'
7s,’6o-’76.
N.Y., Newf & L. Tel.

-

,.

—

....

do
do
‘n do
do
do
do

92
99
102
86
75
78
78

•

n

_

90

-

93

N. J.

_

77

•

87#

-

•

IstM,new 103#-105# 102#-105# 101#-104#
2d M

do

-

86
84

-

105
101#-105
98# 97 - 99# 90

conv..

'

..

93#-100#

—

—

—

84-84
Morris & Es., 1st..... 103 -104
do
do
do
do

-

.

...

-

_

_

....

85
87
-103
-

88#- 90

.

87#- 92

—

.,

-

100#-101#

mm

....

...

-101

...

....

-100
- 8.)
- 85
-102

80
81
101

...

—

100

-

....

-100# 100

,

99
97
84
....

-

...

-103
-

103

-104#

97# 97#-10G

-86
-

-76
•

87-93

...

86-86

'tf •

•

60

RAILROAD RONDS,
Prices of Railroad Ronds for
January. February

BONDS.

Mat.

June.

July.

August.

Septemb’r October. November Decembeb

Low.High. Low.High. Low.High Low.High. Low.High. Low.High.
Low.High. Low.High. Low.High. Low.High. Low.High. Low.Higlt.

Rome & Water. 1st M
SmithtTn & P. J.lst M
So. Side, L. I., 1st M.

81

—

89

-

81

-

89

.

78

78

-

80

80

-

80-80

.

-

Tol..Peor.& W.,E.D.
do
W. D.
do
Bur. div.
do
2d M.
do
con. 7s.
Tol. & Wab., 1st ext
do
1st St.L.div
do
2d M
do
equip
do
cons., conv.
.

98%

-

-

91%
91%

93
4)1
88
83
81

90

83

-

-

75

98

-

Union Pac., 1st M

-

-

-

95

99
93
92
84
89

'

-

85
85

-

-

-

89

97%- 98

-

.

70

75
99%

-

70

94%- 95
88%- 89
93
93%
85 - 85
86 - 87%
85}*- 87
-

\
(

77 %- 79%
70%- 753*
943*- 943*
8G%-100

74 - 74
94 %- 95%
88 - 90

93%83%87%85}*73,%723*943*99

-

76

96
96}/
90,%- 91%

91
933* 90
84% 81}*- 83
87% 85
85%
86% 85%- 853*
69
74;%
75}*
73% 59
71%
95
943*
95%
-

82
85

-

-

-

77

75

-

-

-

97

-

91 %-

75

98%

..

80-91
70

-

80

-

85

5351

1

olo

1

66
60

83

81
84
77
63

x83%- 84%
80}*- 823*
70%- 73Ji
60

63

-

....

-

82
84

-

71
70
70
62
35

80,%

-

-

-

-

-

.

71
68

66
67
,

,

,

-

71

67

“•

•

89
76
80
68
70

-

71
75

-

93
82
85
G8
71

•

92

-

85-88

85

-

....

....

-

95

-

70
70

74% 65%- 78
66% 57%- 70
51% 41%- 57%

-

-

Rl%- 843*
86
86%
70

-

-

803*72%C6%76

-

....

70%

-

_

GS%- 59%

92%- 92%

98-99
81 - 81

-

-

74

72%- 72%

-

-

92}*- 95
75%

71

—

-

82

-

84-84

-

.

-

-

-

-

-

-90
72

72

95%- 96% 95%- 953* 85
90
89
90% 84)
893* 82}*- 82%
92 -92% 93 - 93
80
85

93

-

96

77
75

-

83

87 - 873*
90 - 90
90-90
86 - 86
83 - 833*
72 - 73
75 - 75

92

-

75
75

91 %- 92%
82 - 82
87
8^
81 %- 82,%
G9 - 70}*

83
85

06%
88%

87%- 88%
83}*- 83%

-

-

93

91

8(i%- 87
703*- 703*
57
62% 573*- 593*
95
4)53* 92%- 923*
95
97
97
98%

-

99

-

-

-

-

963*- 97%
90%- 91%
91 %- 92

-

....

.

<r>

_

-

-

76

-

96
88

94
91% 92
4X)%- 90% 90
90%
88}*- 89% 90-91
82%- 84
833*- 833*

-

72

-100

-

97-97

—

t

80-80

88-88

-

..

91

-

—

85
88

973*-100

99

-

....

-

91
83
85

76 - 77?a
74 - 77%
91 %- 943*
96 -100

West. Pacific
84)%- 90,%
West. Un.'Tel., 1st M 9G%- 97
Winona & St.P., 1st M!

....

.

89% 90
90%
91
913* 88%- 89% 91 %- 92%
88
88
88% 87%- 87%
88%
83-84
85 - 85% 86-86

94%

86 %- 883*

75%- 83

*

—

—

mrn

94}*- 98

93%- 93%

89%- 93
92}*- 93

85%- 873*
773*- 79%

L. G. 7s.
Inc. 10s..

„

93

_

85

-

94%- 95
.

-

92
92
83
87

95

-

-

—

j

85

94'

-

...

91
90
88
82

—

92 - 92
90-94

—

.

96

—

—

93-95

do
’ S. P.
St. Louis & I. M, IstM
do
2d M
St. L.,‘Jack & C,1 st M

do
do

April. ’

March.

1873—(Concluded).

-

89% 4>1%....

70

-

743*
85
75%
733*
85%
923*
70

1874.
January. February

BONDS.

March.

April.

Low.High. Low.High. Low.High. Low.nigh.
Albany & Susq., 1st

99

<!o
2d.
do
ad.
Alton & T. II., 1st m.
do
2d pref.
do
2d inc
Am. D. & Imp. b’nds.
Bell*v*le & S. Ill. 1st 8b
B., Hart. & E. 1st m..
do
guar.
Buffalo & Erie, new..
Buff. N.Y. & E. 1st ’77
do
large bds
Bnff. & State Line 7s.
Bur* C.K. &M.
IstTsg
Ced. Falls & M. lstm.
Cent, of N. J. 1st, new
do 1st cons.,.,
do eons. conv.
.

Central

Pacific,gold.,

-101

101
98

95%- 93
96
87
74

-

90

-

90

-100

84

-

85%
77%- 78
93
4)4%
-

4)3

-

4T4

99
ICO}*
85}*- 85%
-

•

95*

-

94

•

•

87

-

*58

-

88

.

•

80" *55*

71%- 73

42

96}*-

—

•

.

-

....

GO*’

89

-

96% 9o%- 90%

■

-

61

-

•

-

■

42

98
89

64
76

-

106}*

-

100
93

■

-

75
73%- 74
104 -105% 105

105%-lOG

96

29}*- 293*

-

-

96"

•

-

ioo*

-

87
76
93
90

-

•

-

•

-

25}*- 28%
■

94
88

96%
89

95
50
76
105

93%- 94%
•

95

-

69

-

100
87
73
98

-

101

100%-100%

89
73

92%-

88
73
99% 10)
97
95

22

-

25%

96

-

-

-

95
50

-

•

-

•

98
55

773* 79% 81%
-107% 10.3 -106
-

i02%94

■

-

99
103" 100
943* 89

-

•

-

95% - 95%
86

-

07
52
80
108

-

-102% 101
-1003* 100

101
86
70
93
4)5
20

88
74
-101
-

99%
22}*- 23%

96%
88%- 88%

-

102

1013*- 102%

■

-

100
87
78
99
92

August.

Seftemb’r October. November December

-

55
82

70

-

99%

-

-

-

-

-

,94

99
20

-

21

-

'

97

-

97
85

97
50

-

-

95
55

-108% 102* -107*'

99

105
87
72
97
91
22
32

70
4)8

-86.
-

100

-103%

-102% 102
S9% 86

95
53

97%

-100% 99}*-101

-

97
86

86

-1023* 103%-103% 1C3%-105% !05%-106% 107

-

-

‘86’

86
70
98
95

-

87**

72

-

72

98

-

98%

95
23

24,%
93
85

-

-

96
24

97%-100

.

100}*-101%

-

97%

-

92

-

22%

-

98

65%- 07%

55

80

i63%-104" i04%-106*

22

23%

-

....

Iu3

-105

102%-102%

coup.

Chicago & Alton, e.f..

-

-

50
30

i6o3*-i62
50

-

40

40

48

-

45

.

22

-

-

24)

99

-101

89

S5

-

90

-

86

ft*;

-100
59
- 80

102
50
80

-

-102% 100
-

52

-

82%

-

84’
108

-107% 103 -108}*

92%- 92%

-100
45'

45

-

86

-109%
101%-103%

102%-102% 103 -1043*
93
95}* 953*- 963*
-

:

80^- 83
81
85
103 -106
47 - 5t
40 - 40
100 -100
108 -109
-

93%- 98%

52

73%

4)8%- 99

88

-

ICO
50
30

91

30-31!

:
-

-

•-

-

-1003 !101%-1G13* 10!%-102
102 -102% 100%-102
10Q%-104
94
92}i- 93}* 88 - 89}* 89%- 90%
92%

90%-

-

-107

97%-lQ0% !102 102
:
92
95
04%- 95

88-88

79
103

-1023*
94)}*

8(
73

35

-

-108

102
4)8
104

97 - 98
100 -104
88 - 89
71 %- 73

-108
88
74

96%- 98

85r - 85%
85 - 85
98 -100

4)8
63

-101

_

-

ex

-

98

100
100

99* -166"

•

283*- 30
30%- 31%
45
?7%- 37% 43
HO
94
94
96,%

do S. Joaq. Br.
do Cal.&O.Br.
do State Aid..
Ches. & O. Gs, 1st m..
do

-

88%

-

July.

Low.High. Low.IIigh. Low.High. Low.IIigh. Low.High. Low.High, Low.IIigh.

102}*- 102% 102}*- 103% 102 -1033*
993* 99 - 99% 97
97
97%- 99

-

87

June.

Low. High.

-102

-

77
94
92

Mat.

-

....

52
45

47
42
99

100

.

-

48%

-

42

-101

101
49
40

48%- 48,%
40

-

....

-

40

-101
50
40

102

-106

49%- 51

-

40-40
do
100%-100%
lstm. 100
-104
-101%
103 -105
104
•106% i07* -107*
do
100%-103% 103%-104 i04%-106 ioo
income. 4R%- 95
95 >*-100
94%- 94% 95
97
96
Chic. B. & Q.8s, lstm. 108%- -109
97% 95
97
97
98
98
92
109%-110 110 -111% 108%- 108% 107 -110% U0%-110% 103 -110
4)8% 98%-100% 100%-100%
do
108 -110
cons. m. 7s
110 -110
110 -111
112 -112
112%-114
Chic. & Mil. 1st m
*9i*
52}* 93}*- 95
105- -105
93%- 94
93% ■ 94
94% 943* 4)4 - 94
91
91
Chic. & N. W., S. F
91 - 913* 91
100 - -101
98
101
9is* 4)1%- 92
91%- 94% 92
101%--102% 1C 2% -103
95103 -103}<T 103 -104
101% •103
-100 -100
do
99 -100
interest, 92
•100 -101
96
97
93
100 -102
97 - 99
100 -103
99
99
96 - 96
do
95%- 97
96-98
98 - 98
consol, 88 - 92
95 - 97% 94-95
91 - 92
913*- 93
97
90
91
99
85
853* 86%- 87
do
S5%- 863* 82%- 84
exten. 80 - 90
83%- 84% 85-85
89 - 91
863*- 89
89
83%- 89
91
89
89
88%- 89%
do
1st m. 98 • -102
100 - 101
100
-102
100%-I01% 101 -101% 102‘ -1023* 99 -400% 4)7 - 97% 96 -96
do
96* - 96"
coup, g, 84%- •86}* 85%- 87}* 873*- 88
85
97"
76
883* 82}*- 86
99%
do
80% 76 - SO
78 - 79% 77 - 78
87 - 87
80 - 81
reg, g.
80%- 8)1% 81 %- 813*
77 - 80%
Chic. R. I. & Pacific., ioo*
78
79
103
78 - 78,
103%- 104}* io5 - -105
i05* -105% i05* -106*' 106 -106% 1023*-! 03% 104
81%- 81%
pin. Lif. & Oh. lstm. 100 ■100
-104% 104%-10G% 105 -106% 106%-10S 108
82%- 82%
-108%
f. C. C.&I. 1st 7s, s.f. 100
100
ioo* 102}* 103 -103 102%- ■1033* 99
83%- 85
99% 99 - 99% 993*-100
100 -101}£ 102
fileve. P. & AshM old. 95}*. 97
98 - 99
-103% 104 -105 103' -104% 104 -104
98}*- •100
-100
99%971 - -101% 101 -101% 97%- 99,% 98
99
clove. P. & Ash., new 92 - 94
100 -101
98%-100
100 -103
94
99
1102 -103%
94
963*- 97
95
94%- 96% 97 - 97
97 - 98
97 - 97
Clove. & P. con. s. f.
92
97-100
97
93
144
95
98 - 98
98% 96 - 98% I 98%-lOi)
93 - 98
95 - 97
97 - 97
95
95
95
do
95
3; l m. 97
100-100
101 -101% 98%-109% •102
98
98 - 99
100
-100% 100
102% 99
-102%
99}* 100 -1003* 100 -101
do
4th m. 86
100%-100% 100%-lni 101 -102
83
8S - 89
99 -1003* 101
88}*- 89% 89%- 90
92
-101%
89}*88 - 89% 90 913*- 913*
Clevc. & Tol., s* f
•101
4)0 - 91% 92
101
91%
97>*95
100}* 101 -103
103
•104
103
96%- 97
100 -100
■1033* 103 -104
100 -101
do
101 -102
new.
92
102 -102% 103 -106
95
94}*- 97}* 97}*- 93
104 -106
97 - 97% 97 %97% 97
C. C. & I. C. 1st m..
97% 96
97
4)7% 97
99 -100
96
93
96
84%- 86% 86}*- 90
99
90%- 91
9S% -100
81%- 83
Sl%- 8.2% 80,3*- 82% 80%- 81
do
2d m... GO
69 - 73
63 - 71
67
67 - 69% 67 67}* 64
63
65
66
59
58 - 60
69%
59%
Dcl.& Hud. C.lst m’91 100%- ■101}*
22 - 26
20
30
20
101}*- 103}* 104 -1043* 104 •104 105%- 106
25
26%
30
100 -103
do
do 1884
102%-102% 102%-101% 104 -106% 106%-107 106%-107
101
102}* 102%--103% 104
104
100 -102
101%- 106
do
do 1887
102}*-1023* 103 -lo3 104 -104% 106 -106% 106%-10G3*
Del. L. & W. 1st m... 101
102 -102
-102
102
-103
102
100 -100
-1043* 99%- ■103
101
104 -104%
101%do
2d m. 100}*--101}* 1023*102%-103% 1033*-104% 100%-101
100 -101% 101
-K'43* 101 -104
100
104
l'-l
105
105 -105%
-101%
103 -104
do
7s. conv. 97
-10 1% 10-J }*- -104
105 -106% 106 -106
101%-104%
105 -107
1033* -104% 103%- 164 104%- •105 101%-102% 103 -104
Det. Mon. & Toledo*. 97}*- -100
103%-1043* 104 -106% 10H3*-108 104) -110 105
96
-083* 97%. -97% 93 - 99
98
99
93 -10)
-106%
100 - 100 4)6%- 97% 97 D. & Sioux City 1st m
90 ■ 90
97% 4)7 - 98% 99
90
99
93
94
94
94
4)5
99%-101
94
96
4)J - 92
do
2d div. 80* - 80* *
—
4)5
98
98 -100
8!)
89
90
90
90
S7%- 92
90
90
91
90 - 91
Erie, 1st m., exten... 101 --102}* 102 -103 1023*. -104
4)5 - 97
96
4)7
99
103
104
99
100
102
103 -104
101 -102% 102%-103
do lstm., end
103 -103
96 - 96
103 -104% 1013*-102% 102
-103%
do 7s, 2d m., 1879.. 100
-10 -3* 100
-101
103 -103
99%- 100 100 -100% 941 -100
100 -100
100 -100
do 7s, 3d m., 1883..
100%-102
100 -100%
98%-100
97}*- 993* 100 -1013* 418
100 -101
93
98% 93
91 %- 95% 95%- 97% 96 - 98
do 7s, 4tli in., 1880..
93 -100
4)7 - 97}* 98 - 99
97
97
99 -IOO
95}*99 -100%
98,% 93}*- 100
97
97% 91 %- 94% 95
do 7s, 5thm., 1888.. 90 96% 96 - 9(5% 93 - 99% 993*-100
93 - 96% 96%- 97%
96
95-3* 95
97%
93%- 93% 91
91
90 -92
do 7s, cons. in. g...
93 - 95% 96%- 4)8%
91%- 95
94%- 95%
Gal. & Chic, exten
ioi* -105 1U0 -100 102 102 101 -101
tOO%-H)2 ioo -102 ‘ 101 -103% ioo -100% 100%-101
do
2dm... 95
97
97
97
98
101%-102% 104 -104% 103%-104
99
99
99
90
•100% 97
Gt. West. 1st m., ’88. 91
100 -100
99% 98 - 98
96
101 -101% 99
93 - 93}* 92}*99X-101
92
93
99% 101 -101%
90
92%
93
93% 4)3
5)1 - 923* 87%- 87% 83 - S5
do
S3
2dm.,’93. 78
86 - 87
8o - 843* 83**- 84
86%- 88% 81 %- 88%
81
-82% 75. - 79
75 - 76
75 - 75
Han. &Cent.Mo.lstm
76 - 76% G3 - 70% G8 -71
68 - 70
70
70
62 - 68
70
70
75 - 76
75 - 75
—
Han.
Naples 1st m. ‘so*
80
80 - 80}* 77
—
77
II. & St. Jo. Ld. Q... 90
—
95
75 - 75
—
90
-ICO
55 - 55
98 - 98
*93* -IOO*' 100 -100
do 8s, conv. m. 78
—
100 -100
86
406 -106
100 -103
83%- 85}* 79
81
103 -105
793*- 793* 75
76 ’ 75 - 78% 73 - 78
Harlem 1st m. 7s, con
73 - 75% 77%- 78
79 - 82% 88 105
-105
106
-107
103 -103% 105 -107
89%
105 -105
do
105 -1((5 ' 1053*-10S
reg.
108%-1093* 107 -107% 1073*-llQ
104
-106% 102 -103% 104%-lO7
105 -105
do con. m.& s.f. Gs
105 -105
105 -1063* 108%-109% 107
100 -100
ioo‘ -ioi"
-107% 107%-lld
Hud.R.7s,2dm.s.f.,85. 100 -101 103 -104}* 104 -105
105 -106
105%- ■107
101 -102
102 -104
do
104 -105,% 105 -106% 106
7s,3d in.,s.f.’75 99 -1003* 102 -102 102 -102
-106% 107' -1083* 105 -109%
1023*- 103 100 -100% 101) -1003* 100 -101% 101 -1013* 102
III. Central 7s, ’75
-102
102
102 -103
-1023*
102
-103
99%-IOq 100 -100%
10!) - •100% 100 -101
100 -101
Ill. &So. Iowa 1st m,. 88
102 -102% 100 -100
100%-lU2
100 -100% 100 -101
833*
100 -1013*
8-3%- 86% 85 - 85
80 - 80
Ind. Bl. & W. lstm..
—
50
50
50 - GO
81 - 81
'77' 77** 00-60
35 - 45
do
45 - 50
2dm...
4S -43
40 - 45
40 - 48
65 - G5
40-46
30 - 30
Iowa Mid. 1st m., 8s.. 83
20 -20
92% 90 - 90
26 - 26
85% 85% 80 - 80
Joliet & Chic. 1st in.. 100 -100 ' 102 -102
85
85
100 -104
105
84* - 86%
107
104 -108
107 -108
i05 -105 104 -106 103 -103 ioi -106- 105 -107
Kalamazoo & W. P.lst
105 -108
70
70
50
70
La Cr. & Mil. 8s, 1st m.
75 - 75
75-75
75 - 80
85 - 85
85 -87
85 - 87
Laf. Bl. & Miss. 1st m
73 - 73
70 - 70
71%- 75
75 - 75
Lake Shore div
72%- 72%
94
^
043* 95 - 963* 96%- 97
94 - 94^ 4)4 J*- 6i
4)5
do cons, con., 1st 94
95% 95% - 416
95%- 96% 97 -r 99
96
95 - 418
96
963* 963*- 97
97 - 97 % 4W> - 97% 97 07%- 98% 94) -100
95
do cons, reg., 1st 94
98%
95% 96%- 97% 97 - 99
100 -100% 102 -1023* 101 -103
963* 94 - 96% 96%- 97
95%- 95% 96%- 96% 4H}%- 96% 95
do cons, cou., 2d
95% 95%- 97% 4)7
98% 98 - 94)% 99%-100% 99. -1003*
90 - 90
90 - 923* 87%- 62
90 - 91
do cons, reg., 2d
89%- 89% 89%- 89}* 893*- 90
91 - 93
94 - 943* 91 -91%
87'%- 90
Long Dock...,
92
92
96 - 98% 98-*.
90-90
92'*- 95
98 -101
983* '96* - 96
98 - 98
97 - 98
Long Island 1st m
99 -100
96%- 98
893*- 893* 9() - 92% 91 - 93
99%-100%
89
99%-100%
92%- 923* 88
80 - 89
90
90
90-90
%86 kT 89
90)4- 90)4
100
102

-

-100
-106

10O

■100

-

-

-

•

-

100
107
97

-100
-107
-

—

-iio%

-

—

-

..

-

-

...

.,

-

—

_

-

-

■

-

-

-

-

-

-

-

-

-

-

-

-

■

-

-

-

-

•

-

-

-

-

’95%-

•

-

-

-

*98%-

•

......

-

-

....

-

.

-

.

-

—

—

-

-

..

-

•

-

■

-

-

-

-

-

-

-

-

■

-

-

-

-

-

-

•

•

-

■

-

-

■

-

-

■

-

-

-

•

-

-

-

....

-

-

.

-

....

-

-

-

-

•

-

•

■

-

-

■

-

•

.*

-

-

-

-

-

■

-

•

-

-

-

'64%-

-

•

-

•

....

-

....

....

-

....

....

-

—

-

-

....

....

-

-

—

—

•

....

....

■

-

....

....

-

-

-

-

-

-

-

-

-

-

-

•

-

-

....

-

-

....

....

.

-

.

■

....

-

....

-

-

-

-

-

-

—

-

-

-

■

—

....

-

-

-

-

-

-

..

«

•

§ •

•

•

■

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

»...

..—

....

....

....

....

.

....

-

....

-

....

-

....

....

.

.

.

....

....

....

.

....

-

-

-

•




-

-

-

...

-

.

..

-

-

.

•

...

....

....

-

_

■

—

-

■

-

•

....

....

-

—

.

-

•

-

....

....

_

....

_

—

-

-

-

-

....

....

....

-

....

....

....

-

-

i03%-103%

,..

-

-

—

...

—

«

-

61

RAILROAD BONDS.

1874—(Concluded).

Prices of Railroad Bonds for

'

*s*

May.

April.

March.

JAlvtTAhY February

July.

June.

August.

SEPTEai’R. October.

BONDS.
100

—

.

,

99 ■ -100
100 * -100
101*-102*
•
98* 98 • 98* 94*- 95* 94*- 96
107 • -108
109 -110
106 ■ -109
106*- -109
99 -100*
100 ■ -101* 101* -103* 99 ■ -100
101 ■ -105
104*- -105* 101 ■ -102* 102*-103*
106* -107 107* -197* 105 • -105 105 -106
95 --95* 94 ■ 94
91*- 91* 92-92
88 ■ 88

-100

■

100
98* 98

-101

■

96*107*- -107*
94*- 97* 97*- -99*
101
103
103* -104
104*- 109
105*- -105*
94*
93*- 94* 94
86*- 8S*
84*- ■86
91
91* 91*- 91* 90*- 91*
80 - 82
81*- 82* 81 - 81
86 ■ 86
80*- 83
78
79*- 79* 79* 79* 78’
80
80
80*- 80*
79*- 80
81
80
76
82
80*- 81
105 ' -105* 106
107
103
105
98 • 39* 98 - 99*
101*90
107

95*

-

-

108

-

-

-

•

-

-

87*- 88*
79

•

•

■

■

81

-

M

■

-

-

‘

■

95

94*- 95
91
93*
91*- 93*

DO
83
100
101

101

-

-106
-101

-

-

-

93
90

■

90

■

•

ilOO

106* 105
106* 105

-

77
81

81

70

-

Pekin Lin. & Dec. 1st
Peninsula 1st m. conv

72
78

-

’92’

92
90

70

-

91

-111

18* -112
-

■

•

-

■

-

80

-

'

81*- 84

77*--77*

-

108

109

-

109

-

-

-

-

79

•

■

•

80
84

80
83

-

92*
93*- 94
91

94*

-

■

91*

86
86
100
101
100

92
-100
100

-

-

-

-88*
72*- ■72* 77* 77*
75

-

-

88

•

88

-

-

70
71
75

98

-

-94*

8s, equip 101 -101
Quincy & Tol. 1st, ’9) 85*- 87
Rome W.& Og.con 1st
-

St. L. & I. M. 1st m.. 95* do
2d m.. 76*St. L. Jac. & Chic. 1st
Smitht’n & Pt. Jef.lst
South Side (L. I.) 1st.
do
S. F.
Tol. P. & W., 1st, E. D
do
lst,W. D.
do
Bur. div.
do
do 2d m.
do
consol. 7s
Tol. & Wab. 1st ext..
do 1st m.St.L.div.
do 2d m
do equipment....
do cons. conv...
Union Pacific 1st m..
do
L. G. 7s...
do Income 10s.
do Sink. Fund.
Western Pacific....
85*Western Union.
93*& St. P. 1st.,
Winona
do
2d m. i-

99*
85

103’*-105*

99*-100* 101

94*

94

-

71*

88*

83*

-

96

.77

-

75

-

80

89’

-

-

90

-

-

70
100
79

74
- -100

73

■

-

72

72* 72*- 72*

-

-

90*

96
70
90

91
72

-

SO
88
65
70
85
78

72*- 76*
85

86*

81*- 82
81*- 83*

-

-

-

85

•

86

-

81*- 84*
75*- 83*

98

87*- 87*
96*- 97

87*
98*

102

-

■

-

■

96*

•

■

94
94*
92*- 93*

•

-

102

-

-

-

94*

94

-

-

-

100

-

90

94*

98*

97* 97*- 83* 99%-100

94"

-

95

96

96* 96*- 98*

-

95

98

-

-

97

99*-100
95

95

92*- 94*
9i*- 92
92*- 94*
91*- 92
-100* 100*-100* 102*-102 102*-102*
-

•
•

-

90

91
91

-

•

-104
-100

-

89"

-

95
93

-

•

94-94

-

-

30*

97*-

98“

97 -100
97 - 97
94-97
100 -102*

-

74
98

81
60
72
75
85

104* 104* 105* -103* 109*- 110* 110*- 112* 112 ■115%
•111* 111*- •115
104*- -104* 105* -108
109%- 109* 110
101*- -101* 102 -102* 99*- 100* 100*- •100* 100 -101*
82
80
81
86
81
82
62
80*- 84
86*
92
93
90
91* 92
91% 94%- 97
97*- 99*.
89
90
90*
90% 91*- 92* 92* - 94* 95*- 99
80
77
74
74
75* 75
79* 79
-77* 74
100
100* 100%- •100% 99 -101*
97*- -100 100 -100
80
90
76
91
80* 86
79%- 80
-78* 78
-

-

-100

-

•

•

-

■

-

■

-

■

■

-

•

-

■

■

70

-

-

67

-

-

-

■

-

70
67

-97* 96

-

-

-

-

70

69

66-69

-

78

-

80

•

-111* 110
-105* 102

109
-104* 104*—107* 107*-109
-102
103 -104* 104
102 -102
95
96
92*- 93
92*- 95

100

•

•

-

■

•

-

•

-

-

■

73

-

-

-

■

60

■

■

-

-

■

95

-

-

80*

82*

93*

90 "

’89*

59

-

74

76
70

-

' 59*

78*

-

76
74

59

5i’

-

94*
83*

-

83*

76
82

-

’76*- 8i’

98

’is’

-

72*

82*- 82*

75’

-

71

72

-

-

72

65

72'

61*- 7i)
96

83*

81

96*

7s*

•

•

72

82

-110*
-105
99

so’

8 i

71*- 74*

-

80

80*- 81
70

'-

50-50
86 - 86
70 -72
71 -73*

79*

67"

56

84

84%- 88*

-

84* 84
86* 83
71
68*82* 82*99
99*-

-

-

-

-

56

88*
90*
75*
84

99*

56

-40*

86 ’
70

90*
74?
6S%-72*

59

-

71

-

56

-

58

87%- 88%

89*- 91%
85 - 86
86%- 88*
90
89
89
90*
73%*- 75
74*- 76%
83
•84* 84*- 85*
100
■102% 98*- 99*
•

•

-

•

-

•

-

72*‘

91*- 91*
9 )*- 93

70*- 72
97

§6’

72

77

66*

-

97

78’

93*

-

- 79
64-64

81

-

-

95
77
78

77*- 80

-

-

40

95'

-

-

'85*- 90"

56’

80

’66*

-

57
95

65

92*- 95

96*

79

-

86*
81*

96*

-

84*- 87* 86*- 87* 82*- 84*
77
80
79 - 81*
75*- 80
80
76 - 85*
84*- 86* 75*- 85* 78
63
63-64
70 - 711* 60
71 -71
85
87 - 87* 82 - 82
85*
97* - 98*
96*- 97
98*- 99* 96*- 97
-

-

96

72* 70

70*

85 - 87*
61-64

59

80

-

85*

-

-

TO'

59

45

-

67’

-

82*- 87* 82*-

-

-

71
72

-

64

-

oi’

93*- 95*

-

*67’

-75

94*

-

60

97*

-

75

94*- 96

93*

-

93

80-80

83*

-

-

87*

101

83

•

-

-103* 104

-

9i*- 93"

80
79

-

93*

86
89

81

-

72*

60

-

■
•

60
67

72

-

-

■79* 80

-

72

■

97*

-

89" 80*

-

80
78

95*

89*

-

—

59*

65
60
98

80

•

-

80’

58*

-

-

77

88*

81
75
75
81*- 83
■

•

102* -102* 103

90
89

-

-

-

1

—

82*

85

-

-

-

92*- 94* 95*- 96*

85*
81*

89
88

■90*

-

100*- 101

90
89 88
89 •
101*- -102* 100
-

•

-

•79*

-

-

-

-85%

-

-

73
-100

71*; 71

-

-

-

-

-

-

81
80

-

-

■

95* 93*- 95* 96
t3
70
83*- 84* 83

-

-

-106*; 100 -107 i05*-105* 106 -106* 101
-101*;101 -101* 100*-102* 101 -102* 99
94
94* 94
95* 95
97*1 93*- 94

105

95 - 97
102 -102
88-89

■

-

60

Pitts., Ft. W & C. 1st 103* -104

94*- 95
92*- 92*

•

-

69
72

65

■

-

25

•

-

-

71
72
80

35

94*- 95
92*- 96
88
88

-

75

■

-

84
90
80
71
75

105*- 105* 106*- 107* 107*-

88
96

94*

-

•

91

90

-

■

78

-

91

-

83

-

•

74
71
75*- •'ie*
105* 107* 108 -108*

-

96*- 96*
90
93
25

75
65

•

-

111

-

7i’
75
65
-106
-104

111

■

100*- 102* 99 ■ -99X 100 ■joitf
104
105* 102%- -104* 104*- -105
104 -•106* 106*- -107* 107
-108
90
90
91 ■
92*- 93*
-

80*- 80*

92”

35

-93*
-

-

■

-

77
81

92*- 92*

•

-

1st Carond’t Br.

•

76

87*
79*- 79*

•

■

-

90

-98*

■

-

-

■

-

m.

■

-100

■

■

'87*-

■

•

-

■

99

-

98

101

-

-

97

100

-‘-99* 99 -100
102* -104
102*- -103* 102* -103
104
103 ■ -104
106 - -107
-104*
89
90*
91*- 91*
99

.

-

-

85*
92
93
93
93*! 92
91
92* 90*- 91* 91
80
81
“
79*- 81
93
96*- 98
98*
79
79
73*- 79

m.

-

■101* 101*- 101*
■100
101*- -101*
•101* 100
101
■101* 101
101*- -101*
106
■105* 105*- •107
■108* 104*- -105
■108
-105* 105*- 106* 108
104*- -104*
■100
■101
98 j 99
100
100* -101
1
84
84
82*- 85
81*- 81*
89 - 90*
91*- 92
90*- 91
89
90
91* 97* 88*

102*1100

-

....

105
105
101

-

93*

•

85*- 87* 85

Pac. R.7s,gnar. by Mo.
Pac. R. of Mo. 1st M.

2d
3d

96

-

-

-

104
100

.

do
do
do

93
93
-101
-101
-

i04%-107

70

-

-106* ioe*-i64” i64’ -106" 104
103
--100* 100*-102* 102 -102

35

40

90*- 94

m

76

-

91*- 92
-

-

-102*
97* 98
-HI* 110

-77

91
90

91*- 91*

92*- 95

2d

-

75
106
100

-

do
6s,’87....
do
fc’s, R. E..
do
6s, sub...
do
7s, ’76 ..
do
7a.con.’76
do
7s, ’65-’76.
do & Hud. 1st cou
do
do reg.
K. Y. & N. H. 6s, 1st.
North Mo 1st m.....
Ohio & Miss, cons.s.f
do
consol,
do
2d cons.

do

80

-

■

35

-

-

•

N. Y. Cent, 6s,’83...

do

-

■

88*

-

-

-

-

-

102
96
110
99

-

-

-

-

-

-

High.Low. Hivh.L'>w High.Low
100 • -102* 103*- ■163%
100 - ■100
102* 99*98* 99
100*- ■101%

'Tigh Low. Iligh.L w. niph Low.

riiffh.Low. FIi"h Low. Hish.L1 w

High .Lov Tgh.Low. High.Low.
Mar. &-Cin. 1st m
Mich. C. cons. 7s, 1902
do lstm. 8a,’82, SF
Mich. So. 7s, 3d m
M. S. & N. T. s. f. 7s
M.& St.P. lstm.8s,PD
do 1st m. 7 3-10, PD
do 7s, gold, R. D...
do 1st m., La C. D.
do 1st m., I.& M.D.
do 1st m., I. & D...
do 1st m., H. & D..
do 1st m., C. & M..
do 2d m.
Morris & Essex lstm.
do
2d m.
do
bonds 1900
do
conv
do
construe.
do
7s of 1871
N. J. South lstm. 7s.
do
cons. 7s.

November December

-

-

97

80*’

80*- 80*
69

40*
40
82
66

-

-

71

46"

-

40

-

92*

74*
64*- 73*

47’

-

-

49* ’

92*- 94%
8-i%- 8^*
90

-

95

77%- 8)

-

85

-

99*- 99*

70
65

73-75

-

70
65

75
60

-

—
-

87
75
65

18T5,

March.

January. February

April.

Low. High.

Albany & Susq., 1st.,
do

Low.High. Low. High. Low. High. Low. High. Low. High.

105

107
103
100

-101

:
do
Alton & T. H., 1st m. 103%-104

104*-105

106
101
104

91
77

76

do
90
2d prf. 92 - 94
76
do
inc... 75 - 77
100
Am. D. & Imp. bonds 98*- 99
Atl. & Pac. I’d g’tm.
97’
BellVle& S. Ill. 1st 8s 96 - 97
B. Hart. & E., 1st m . 22*- 23% 22
do
30
guar.. 25 - 25
Bost. & N.Y. Air-Line
101 -102
101
Buffalo & Erie, new

Buff.,N.Y.&E., lstm
do
large bds

.

86

do
do

.

86
-101
- 45

-

-

...

82*
-110%
-

1st cons. 102*-103%
convert 105 -106%

-

-

-

97
23
30

-

.

..

77

22%- 23
...»

—

.

.

•

.

96
25
30

-

-104>?

100
86-90
90
87 - 87
87
102 -102
102
•46*- 46* 30
82*- 82% 83

86

-

-

-

-

...

-

-

-

-

98

-29%
-

30

....

-102
-

-

102

90

—

...

-102
..

-

-

-

,

,

,

,

47
96

93*- 95
25

24* -25% 24%- 24*

26

-

2414- 25

-

-

35

-

...

,

,

,

,

-

85
96

-

“

102 -103
84-84

103
80

-

-40
-

102
30

-103

30*
84*- 64*
-

111 -112
105 *-106%

106*-108
103*-106%
92%- 93%
93 %- 94%

109%-109J4
35
33

-

-

40
33

_

-113* 112%-113
-103
-116

101

-102%
115*-117
107*-107*
103%-104% 104*-105* 105%-107
94
95
94
95% 96%- 98* 96*-100
100 -103
104 -104
103 -105* 104 -106

....

-

-

-

-

97

88*- 90%
-

85

P-0
90
85
98

-

....

20

-

-103
-

84

103
81

...

99*-100

-

99

93*- 93*

-102
95
95
99

94% - 95%

90

-

90
-100
-

-IfO

90 - 90
100 *-101*

1 0
30
80

-101
31

-

101
31
80% 80

—

86

-101
35

89*
112*-112* 109*-109*
107 -107
104* -105
109 -110%
109 -110
100 -102% 101%-103
92
92% 91
91*
91
89*
91* 89
107 -107%
95*- 97
-

-

•

•

-

-

-

-

•

40

39 - 39
33* 30 - 30
-100 • 100 -100
-110
no -110*
-103
102 -103*
-113% 114 -116
103*-101* 104 ' -105*
97
97* 97 - 97*
104 -104* i 02 *-105
99 -100
100 -102
96*- 98*
95* 97
90
90 - 90 #
90
101*-103* •00 -101
35
30
ICO
108
102
112

-

....

....

-103)$ 103
-

24*

-

-

-

-

-

-

20-20

35

-103*

94
23
18
100
100
82
80
101
30
80

-

94

-

21%

is

-

19

18*

-

,

-100
- 83
- 83
-101
38
- 80

-

-

100
87
84
101
36

-

....

•

•

•

•

“

.

.

.

r

-

...

.

•

•

...»

•

•

•

"

-

-

-

-

„

.

.

....

m

•

•

•

....

...

..

20

-

18*

-

-

88
88

-

-

-

-

-

-

-

-

-

....

....

-

-

-

-

-

-

-

-

—

_

111 -115* 114*- -liS"
no*-m* 110*-! 12
-105* 100 -101* 105*-105* 107 -107
115 -116
115 -115* 117*- -118
-115
-104
106*-10?% 107 -108* 109*- -110
97
93
99% 100 - -102
98* 93
106 -li>7* 107 -lu8* 105 -105
104*- -105%
99
100
105 -105,
-101*
100%-102* 99
98
97* 93 - 99
97* 95
98* 95
90
90
90
90-90
90
90
-90*
105
115
104
98

-

-

-

-

-

-

-

-

-

•

98*- 99

-

-

-

....

-

-

•

-

-

80 - 90
80 - 80
-107* 102 - -104
40
34 - -36*
80*- 84
80% 81
111 -112* 113%- -115
no*-ni% no*-ii2
106 *-108* 107 -107% 107 -107* 107*- -111*
!U5 - -106
109*-110* 107%-110* 104*-106
102 -102
104*-107* 102*-106* 106*- -108
89% 90 - -91
90*- 92* 88*- 90% 87
88
90* 91%- 91* 89% -89% 90 - 93
106 -112
112 - -112
106 -106
92
90 - 92*
92
94
93
92*- 93
3 * 25 • 31*
35
30
26"- 37* 28
20 - 26
24
23
27 - 27
30
30

85
85
-101
40

84
84
101
35

98

-

99*

•

•

99

■

-100
-

-

-

18*- 20
18*- -19*
-101
101*- -102
-100* 100*- -102
-

-101* 101

99
99-100
99 -100
98
97*
85%- 87% 88
80*- 83* 84% 86% 85% - 86* 80%- 82* 81% 85% 87*- 88* 67%- 88
80
86
84*- 87*
85*
85*- 87
82*- 82* 83
86*- 86% 79 - 79
107 -107% 107%-109
107*-108% 108*-108‘* i09%-110% 108*-108% 109
109*-109* 109%-1U
-

-

-

-

....

_

.

-

-

....

-

-

-

-

47
96

87

41 - 43
42
45
40
36
36
36-36
100 -101
106 -108
113’ -118 li2
103 -104
102
100*-103
112 -112* 113*-113* 114

97

....

-

40-44
97 - 97
25 - 27

-

-

•

-

-

-

-

•

-

-101
-102% 102 -104
42
25 - 30
45
83* 83 - 83*
82* 83
111 -111%
108 -109
109%-110* 119* -115
104 -101* I04*-li;5% 104*-106% !C5*-106
106 *-107* 107*-108* 109 -113* 108*—110
96 -97
96*- 98% 93 *-102% 102*-103*
92 - 92*
84* 86* 85 - 88* 84% 93
84
84* 84 - 86% ►6% 94* 92*- 94%
104 -105* 105 -109
IC3 -103
-

•

no
107

.

-101* 102

85

101
45

-108* 109*-110%
-105* 105*-107

_

.

105
•89
77
102

November December

-ill* 110 -211* Iil%-li2% 113%-U6
-10s* 105*-107* 106 -107* 105% -107
100 -100
101 -101
100 -100
100*-I01
101*-102v*
-105
105*-107 104 '-105* 104*-106* 106*-107 105*-106* 106 -107 106 -107 106 -109*
92
88
89
87
86
90
89
88* 85
86* 85
90*- 91
89* 88
91* 90
66
67-68
73
70
70
68
80
73
76
76*- 76* 72
76% 76
99
-103* ioo*-ioo* 10014-104
99* 99 - 99* 100 -100 100 -100* 99%-100 100*-103*

_

_

Cent. Pacific, gold ... 93% - 96*
do
S. Joaq. Br 83*- 85*
do
Cal.&O. 1st 81 %- 84
do
State Aid., 103*-114
do
Land Grant
Ches. & O., 1st m., 6s. 36 - 45
40* 42
do
34 - 36
37
ex. coup.
37
Chic. & Alton, s. f
100 -101
do
lstm.. 105 -106
107 -108
do
income 100*-100* ion*-io3
112 -113
Chic., B.& Q., lstm.8s 109*-112
do
cons. m. 7s 101 *-102* 102*-102*
Chic. & Mil., 1st m... 91*- 93* 93% 95
Chic. & N.W., s. f.... 103 -104
100 -101*
do
int. bds, 100 -100
99 -100
do
90
consol.. 90 - 91* 89
’*•*
do
extens’n
do
1st mort 99 *-100
96* 98*
do
gold,c’p 80*- 82* 60% -82%
do
gold, reg 82 - 82*....
Chc.,R. T.& P., 1st 7s 105 -106 1( 6%-106*
do s. f., inc. 6s,’95
~




110 -no* Ill -111% [108
104*—104* 1ij5
102*-ll'4y2 103*-105

-106
-102
-104

-100* 100*-102%

-

Bnff. & State Line, 7s 100
Bur.,C. R.&M. 1st 7s g 45
Ced. Falls & M., 1st m 80
Cent, of N. J., 1st new 10S
•

-

-104

September October.

Low. High. Low. High. Low. High. Low. High. Low. High. Low. High.

-107% 107*-103* io<* -no

-107
-103
-100

2d.. 102
3d.. 93

August.

July.

J CNN.

May.

BONDS.

89%
....

-110
-

-

-101

81*- 85%
82 - 84*
110*-111*
•

-

—

•

100

99

99

-

■

99*

02

RAILROAD. BONDS.
Prices of Railroad Ron is for
January. 'February
r

BONDS.

.

1

Cin., Laf.<fc Ch., 1st m.
C. C. C.&I.. 1st
do
consol,

M.&St

m.

100

-

-

•

-

■

!02*-103%

104
99
105

-105
99

-

_■

-

98
98

106*-107

-100
-100

100
100

107
111

-

...

119
101
101
101

-103
-102

101%-102% 102 -103%
97 -103*

118*-ll8*

-100*

-

..

-

-

-

■

-

-

-

-

-

,.

-

-

-

-

.

....

..

-

-

-

-

-

45’

36

-

-

31

84

-

20

_

.

84*

8s.

-

106

-

85
-108

-

:oo
100
100

108

60

-

-

•

-100*

-

-1004

91*- 91*

-

-

-

91

-

-

85
53

57

-101%

85

-

-

-

-

-

-

60

-

60

—

1(2

-102
97

97

....

-

....

-

94
91
-104

94*- 97*

-

90
104

-

96

92
-1C6

-115

no

-112*

—

99* 100

—

...

106

-1j2

_

-

100*-101%

706%—107
107*-: 08% 106*-106% 105 -100
-107% 108 -108% 109*-110
110 -110
87-90
90
91% 92%- 93% 90
90
80
83
80
86 V *4
86% 85*- 85*
85
86

105

-

85
74

-

70

-

-

-

-

71

-

87

87

-

75*

75*- 80

76

76

-

89

90

-

73*- 74%
81*- 81%
71
72%

-

80 - 82
do
consol.sink’gfd. 73*--74* 75
75
do 2d m
78
76*- 77
79
78 - 80
Morris & Essex 1st m. 108 -109* no -113* 111 -112
do
2d m. 104*103
-106*
-105% 104 -104
do
bonds 1900 99 --100
93
98
do construction 98 --100
97
98
98 - 96%
do
7s of 1871 101 -102% 104 -104% 105 -1C6
do 1st con. g’d
Nashv.&Dec.lst m. 7s 85* - 86*' 83 - 83
N. J. South’n Istm. 7s
30 - 30
30
30
N. Y. Cent. Gs, ’83....
93*- 99* 98%- 99% 99 *-101
do
Gs, ’87
97*- 99* 99*- 99* 99 - 99 V
do
6s, r’l est. 94*- 95
95
95
95 - 96
do
Gs, subs.. 95 - -•95
95 - 95
95 - 97
do
7s,’76.... 102 -103* 99*- 100
100%-101%
do
7s,conv’76
N.Y. C.tfcH.
lstm.cp
-112* 112*--112* 113 -113%
do
do reg.
110
110*--111
-111
110%-ni
N.Y. &N. H. os
100
-10;% !01%- -102% 102 -103
North Mo. 1st m.
83%- 83* 83 - 84
85 - 85*
Ohio & Miss, cons.s.f.
97*- 99
93*- 99* 97
98 V
do
consol., 97 - 98
96
97%- 99
98
do
2d cons, 81 82* 81*- 82
81 - 81%
do
-

-

-

75
112

-

...

83
74

-

-

79
-114

103

74*

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-

83%
83
78
63

84*

-

-

•

33

28

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-

■

99%-102*

-

96
96
101
101

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-

-

-

1st

do
do

m.

IstCarond’t Br.
2dm
Pekin, Lin. & Dec. 1st
Peninsula 1st m., conv

Pitts.,Ft. W.&C.lst
do
do

2d
3d

m

m.
m.

91*- 92*
-

79*

-

-

60
90

-

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79
60
93

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89 %-

90

77
60
90

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-

■

-

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'

do
W. D..
do
Burl. D.
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2dm...
do
cons. 7s
Tol. & Wab. 1st ext.,

79*- 79 V

63*

on

91*- 95

ung

-

-

50

-

■

60

93

-

-

96

72*- 72*
-

96

-

-

99

95

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99

•

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92*
65

50-55

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-

95%

-

....

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-102

-

100

-

80%

-

70

83*- 89

do lstm.St.L.div.
63
do 2d m
52
do equipment....
do c ns. conv
44*Union Pac. 1 t m
10*do
l.. G. 7s.
9 t
do
inc. past
due 95
do
-

-

03
61

44V
92 V

60
62

-

65
62

62*- 02*

55

20
20

79*- 80*
5r%- 63
50
33
93

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55

-

20
20

80-81

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81‘

61
52

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55

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62

54
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60
45

55

80

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111

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63
55

80%

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79

-

80

64

ei

t

63

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54-54

43

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57%

12
55
54

-

82
63
57

80
55
55

-

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80*
£7
55

89*
96
92

...

-

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97




m.

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52
-

52

92*

62
50

80
55
51

89
45

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■

72
64
10
32

82*

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50

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25
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12
81

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95

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88
61

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101
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98

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95
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108
109
90
90

10
92
88

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79

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87

106
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93

105* -105
112

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90%

70*

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■

■

■

85
78
90

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166

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80%
87

87

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■

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85

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81*

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82

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85
115

91%
82*

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87

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91
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-

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•

100
101

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84
80
80

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80%

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93* 95
90* -92*
96% 98*

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80
79
84
78
87
113

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110%
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81%

•

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83
76
83
114

90

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112
91
90

■

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83
77
85

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100
105

93*- 94% 93% -•96%

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121

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101
100
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90
94
92

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24
102*- -103
100%. -102
102 • -103%
10)% -102
100 • -102
99
-100
100 • -102
99
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100 • -101* 102
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■

■

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-120
• -115
■

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’{’)6‘

113
114

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-

90* 89 ’
90

-

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■
■

■

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-

89

89*%

-

89

88

93 V

-

-

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93*- 95

87*- 88
93-94
87%- 92
64*- 65% 65 %- 69% 68
69
15
25
09%- G9% 25
23
•
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79 *- 81* 81
89% 74*- 83
83*
-

•

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89

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43

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50

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62%- 65

60

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60-70
50 - 55

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53
101

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98
52
93

40-40

89*- 90
91*

90

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■

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54

90 ”
75
65

82
58
50

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58*
52

99*

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SO
49
43

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23

63

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98
113

100
43

115

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108* !08*-109

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100
43

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101

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89%- 89%
90%- 92% 92*- 95

98*

-

90
70

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io’
-

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99”

48*- 52%

71

27

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65

-

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-

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90
75
65

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62
10
32

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—

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30”

-

-

78

7%

82
- ■108
86
62

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92*-

-

—

...

30
27
8

--

89”

-

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91%

90
45
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-

_

82

-

-

-

-

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52”

61
53

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70
57

-

•

91%

92
45-50

-

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--

98
50

_

80*

-

99% -100%
100% -103
98*-102**
95
96* -loo
93% 97
’95* %% 95* 97
101
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-

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.,

76*

-

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93
95
98
98
95*- 98
-112% 112*- U3* 113*-114* 114
-105% 1(6%- 107
107 -107
107

-

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■

35
28

-

101

95
95
95
--104
-

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1
1

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do

-

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60%- 60%

-

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78

—

.....

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9S%- 99%

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-103*
"103%

60

-

-

-

-

25
-108

-

62

-

83
77
83
77
88

102
90
90
90

70

40* 35
38* 38*- 42* 40
42
35
36
25
30
26
27*
93% 95*- 96% 97 -101%
100*-101% 102%-105% 1( 0%-103 1
92% 93*- 94% 97 -100
-102%
96*- 98* 97*- 97
97% - 98* 99%- 99% 99%-101
96
100 -106
too
sinking fund 80*- 81 * •' 8 3*- 89* 83 -100
Western Pacific
%- 90* 91%- 94
91*- 92% 91
84
93* 95%- 96% 96*- 97%
86% 87
87* 87 %- 90
West. U. Tel
91*- 97* 97
97
U0 —100*
96
U)C%-101* 101*-1 2* 1(2*-104 100%-100* 97%- 93* 91
do
1900, coup.
100%-101 101*-102 1
■Winona & St.P. 1st m. 7i "
-

-72%

-

-

108
86

60

-

75*- 79*

20
82
61

79

-

-

100
108

1‘ 2

101%-lf-2
1
76/,- 76*

....

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-

28

-

101
51
99
91

80-80

-

...

-101
50
- 91
- 89
50

-

6

94*
82*- -82%

-

96*- 96%
112*-113 m -112
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-

...

72

96*- 96%

10f.%-107% 107
100 -100* 101
50
91
88 - 92
88
53*- 53% 42

-102* 101*-101*

...

80
70

...

85*- 85* 87*- 92
53

80

96* 96*- 96%

-

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ioi%--102 ’

-105
-104

•

102%.-101% 100*- -10i% 100%- -102
112
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113
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115* 115

78

-

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100

-

-

60

-

84

-119

•

•

114%--116*
115*
106%--107% 106%- 108 108

-103* 103 -103* 100%-100% 1100% 101%
94%- 95% 94*- 94% 95
95% 91
91%
72
80

35’
27
6

82*

-

116% 116%

-

-

40

100% 100%- -101%

102

80%
83*

-

■

-

Tol.,P. & W., E D...

92
71
78
60
93

77

95

-102
96

-

-

do
2d m..
St. L., Jac.& Chic. 1st
South Pacific of Mo..
South Side 1st m

-

106*--106* 107* -103
1C8*-109% 109%-110
102
-102* 103 -103* 104%-104% 104%-10G
100
-10)
101* -ioi* 101%-102* 99 -100

Quincy & Tol. 1st, ’90 50
69
Rome,W. &Og.con.lst
93*- 93*
St. L. & I. M. 1st
m.

-

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-

-

ioo

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89*- 8»%

103

-114

107*

-

78* 75*- 76*

-

■

-

-

-

-

28*

108
90
87
93

-

-

-

-

—

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-

-

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•

■

50

-

-

23
1
103* 103% -104
102* 103 -103
100
-100*
100 • -100
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10
-100

101

-

105
105
-108
104*- -105% 106*
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70
70
80
84*
28

_

•

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-

102%--102% 102%- •103%

88

-100

28

23
-103
-102
-

-

-

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lst,Springf.I)

28

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97* 97*- 99% 100
97* 98 -100
100

-101% 102*-103% i03*-l03*

-107

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80

•

23%
100%-102
-

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-

107

-106

-103% 104

-

-

-

Pac.R.7s, guar.by Mo. *99* -100*
Pac. R. of Mo.

-

28

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-no

■

-

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77
50
65
25
107

-

116

78%

-

I13*-1!5" 116^-117 117 -118% 115 -116
110*-113* 113*-115* 114 -115* 113 -114*
100 ' -ICO* 100%-101%
100%-101% 101%-101%
86
91
87* 90
91
91* 88-90
89
98
99* 95
99
99* 97
95 %- 98
96
96
99
94
99
95
97
92
94%- 96
78
73% 75
75
78% 74
70
74%- 76
80
86
80

-

.

99
90

-

32

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100
100
95
96

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103

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83

83

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■

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81
53
61

10

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83*

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101 -103% 100

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;o2

-

97*
93%

49*

-

104%--104*

103

...

100

97
94

-

02 -103
3 01 *-101*
80 - 80

85

-

80

-

ici -104%

-

97
93

74* 71*- 78
....

107

-

-

60
101
01
100
95
94
95
103

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•

....

80

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30

74

61

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-

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100
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80-80

99

-

.

..

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109%-no* iio%-m% ltl%-112*

99-99
99

.

-

105*-107* 106

-

-

-

..

73*- 74
81*- 83*
73
73%

91

-

80-80

-

-

50

90

-

-

106%- -.07
107 ■ -107 i
100* -1C3* 103 ■ -105
100% -10'* 101 • -101*
95 • -95*
94% • 95
90 ■ 9:% 91 ■ 96
90 • 90
90 ■ 94*
103 • -105
105*- -106
75
77
78
80
52
5i’%- 51* 50
75i/a 75% 70 - 7U
30
30
29 - 30
108 - -108
77%- 83* 79
80*

98 %--100%
92 - 95%
92 - 95
90 - 93

«
96

-

40
28
6
81

106 -10614 04 -104%
103 -1C4
02*-103*
111 -112
13 -116
!01 -101
02 -102
101 *-102
02*-102%
1(7 -10S
08 -1< 8
112 -112
07 -107
90 - 90% 88 - 92
81 - 86
87 - 87
88 - 94* 93 - 93%
77 - 83
81 - 81
83 • 83*

-111

.

-

41

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89.

-106

HO

101
104
1<4

-

...

....

-

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no
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•

119

83*- 83*

-

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.

80

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97 *-102

-

98

103W-103% ioo*-ioi%

102 *-103

«

4')
29
6-8

..

97%-101

96
92
-106

106
102
112

-

-

....

117 *■ -119

100* -10!%

-

107
76

-

94*- 94* 96/,- 97
90
90
95%- 95%

-

90

-

40

26

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96

43
15

18

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‘

-

40

-

50%

-

•

-

-

41

■

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-

112% 112%-1!3%. 113%--113% no%- -112% 112%-115*
112
114 -115
112*-113* 112%- -112% 109 -112
109
110 -110% 110
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28*

-

•

-

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1(2

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■

99

-104* 104%--104*

51
61

82*- 84%

-

80

-

...

99%-100% 'Oo%-K)i% 99
l(;2*-103
ICO
102*-104

-101

113

-

.

-

-

4*-

70 - 70
108 -112
83 4- 36

86

58

-

40
26

28%

-

5-7

-

.

K'2%-103% 103*-106*

-

-

-

-

94
90
103

87*- 90%

-107
303
-103
Mich. C., con8.7s, 2902
101*--*C2% 100 -103%
do Istm.
8s,’82,s.f. 111 -112 * m --113
do equipment
K2%--102%
Mich. So., 7s, 2d m...
-loi* 101 %--102
Mich.S. AN I.s.f.Ts 166*4--100
104*106
-106*
P. 1st8s, P.D.
-109
101*--104*
do 2d m.,73-10, rt.D. 108*493
do 7s, gold, R. D... 80 - 95*
84
82* 84 '
do 1st m., La C. D..
88
83* 84*- 87
do 1st m., I.& M.D.
75
77
do 1st m., I. & D...
*72 - 77 '
do 1st m., H. & D..
72 - 72
77-77
do 1st
-

28

103* -105% i03* -104* ’95* -If5*

-1C2

-

23

-

-109
- 86

...

-

91

28

-

-

!0i‘

15

99%-10l3* lnlv-102
12
92% 93 -95
92 - 92%
-

•

-

-

52%
35"

-

ios

-108

55
101
101

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91*- 92

-

-

-

_

60*

-

.

•

__

-

54
61

-

...

50
26
10

-

105% 106 - -106
-102% K«%--103

-

110
111%
IB'* -110* no

-If 0

93
103
79

-103

-

50

15
-112

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•

95

93*

-

-

.

46*

-

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95%

....

-

-

20

15

102* -103*

-

-

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..

-

■

51
61

-

-

..

•

81% -82*

-

-

■

95%- 95*
103%- -04
-102* 101%- -:02

-

102
48
15

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97/,

99
98

-

102

-

-

C. & M..

-100
-104
• -101

98
98
95
93

-

-

40*

-103

120
100
101
100
104

-102

-101

-

-102
-

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-

106%- -106% 100%- -108
•

•

-106

-

•

-102

101

105

■

116

-101
-101

-101

-106
98
• -104
-

-108% ‘09% -110
107* -107% no
-103* 109% -no* 106* -1C6* 107 -107
107
-112
109
111
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-107
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-121

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•

100

-

102

•

106*- -107*
101%- -101%

-

-

-

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■

97%- 93

-

-

•

102
100

•

-

50
35

-102
■ -104
■

■

-

-

108

102
104

102

-

-

-109

-

-

-

-100
•
93
-

-

106

■

-

105
98
03
101
104
102

•

105*-1C6%

-101*
-101%

100
107

-

'Low.IIigh i Low High.

-

ioi
104

-104

.

-

Low High

“

1()5%-106

103

-105

-

Joliet & Chic., Istm.
-109*’
Kalam. & W.P.,lst m 106*82 - 82
Laf., Bl. &Miss, Istm
Lake Shore div
100
-ioi*’
do cons. coup. 1st 100 -10!*
do cons.,
reg., 1st 00
-102
do cons,
coup., 2d 91 - 91*
do cons,
reg., 2d.. 91 - 91
Leh.& W. B’e cons.g.
Long Dock
101 -101*
Long Island, 1st m...
Louis. & Mo., 1st
guar 90 - 91
Mar. & Cin., 1st m
106

m..

-106

104*-: 05

103

-102
-107
97

-

•

October. iNovEMBKu DBCEijKKa

82

-

105%- -105„ 105*-106* 106*-108
100*-106 100*-102* 102 -103%
103
-103* 100 -.00* 100 -102
98 -102* 95
98
99%-101
99
10154- -103
99% 99 -102% 93 -102* 92*- 96
96
98*
98
98*
99
96 - 97* 86
98* 88%- 93
95
97
97*- 97% 86
87
94
98*
9496
104* -104* 104*-105 105 -106
105*-106* 106*-107 107 -107%
75
77
77
79
79 - 79
78
77*- 79
73* 78
81
52*- 55
57 - 57
53*- 56
56
57
55
56
50 -54
70
70
72* 70
62
62
47
47* 40 - 45
45
45
35
35
32
87
104* -104 105 ■106* * 106 -106
102*-107% 108 -103 1G6 -107
81
89% 82*- -64% 81*- 82
83 - 86% 81
84*- 88
83
80
109
84*
-10'* 109*- -110* 109 -110% 110%-114% 109
-109% 109%-111
109
-109
1I0*-110%
109*- -110% 109*-110* 110%-112
109%-109% 109*-110 nn%-m
106*--107
106*- -107*
107 -110% 111 -111
108 -111
108 -108*
101
;02 -103
-101* 101 -102

m

m

105

i05 -107% i07‘ -107* 105*-106
-108/, ioo -111 110 -no no*-m

•

100
96

•

IIud.R. 7s.2dm.s.f, ’85
111. Central 7s, ’.5
Ill. & So. Iowa, Istm.
Ind.. Bl. & W., 1st m. 45*

Iowa Mid., let

-107

-103

-107* 109* -111
108
-109% no*-m% 112*-120
99
98* 99
99%-101

97*- 99
95 - 96*
107
111. UAU/l
103* - 10 V
do
2d m. 7s, ’79. 101 - 103
do
3d in. 7s, ’83. 100 - 101*
do
4th m. 7s ’80
96*- 98*
do
5th m. 7s ’88
96*- 96*
Gal. & Chic., exten.. 105 - 108
Qt. West., 1st m , ’ 8. 77 80*
do
2dm.,’93. 52 - 59
Han. & C. Mo., Istm. 60 - 65

2d

102
100
105
97
105
100

105

.,

2d division

iSEFTKMBV

•

_

Dubuque&S.Citylstm
do

do

-109

-

reg. 7s, ’9

-

82

....

-

r

do
7s, conv. 107%- -108* 109
Det., Mon. & Toledo.
98
101%- -102

August.

-

-

107

July.

104*
104*-104* 104*-104% !05%- 106 106%- -108
-100
98
99%
100* 101 -102
-107
-107%
-l07* 103*-105
-105* H'4 -105
-102
102*-103* 103*-103* 103*-103*
-103* 103 -103*
51
59* 50*- 52
39
45% - 49
49* 45
50% 47*- 48* 40* 45
15
18
18
19
14
14
16
16
15
18
17*- 20*
107%-107% 108 -109 109 -109* 1(9*-109* 107 -107%
-108
ios* -iio”
107 -107
106*-108* 108*-108% 109 -109*
-108
109* -no

■

-

108

96-96
104 -100
102 -103

-

.

—

..

104%-104%

-

•

J UNE.

.

•100* 101*-102
101*-103%

-

■

|

—

Cleve., P. & Ash., oid. 100* -100*

Ilan. & Naples, Istm.
Ilan. & St. Jo., 1.
gr.
do
8s, conv. m.
Ilar’em, 1st 7s, coup..
do
1st 7s. reg...

May.

Low.High .jLow.High jLow.High. iLow.IIigh Low.High.'

104*-1061j 105*-106* 106%-107

Del., L. & W.,2dm..

April.

83*- 83*

do
new 100
-101* 101
101*
Cleve. & P., cons.,s.f. 102* -103
103*- 104
do
4th m. 94
94
96
96
Cleve. & Tol., s. f
102 • •103
103
104
do
new bds 100
-101* 101*- 101*
C., C. & I. C., 1st ra.. 68
70* 61
70*
do
2d m.. 25
25
12
25*
Del. &II. C. 1stm.,’91
104* -105 106%- 107*
do
do
V4 103* -103* 105*- 106
do
do
’
10154"
do
coup. 78, ’94
do

i

j

March.

1875—(Concluded).

-

-

30

-

-

78

io”
30

82*

7S

53*- 57%

-

80”

-

47
5

-

-

-

-

56

-100*

54-63

90

53
51

-

55
9!)

50%

-

*34*
34
80
57
50

80”

-

78
66

73

-

34*

-

34

-

—
-

5

81
61

53*

27WJ
‘>273i”
1(‘1%-103* 101%~104* 16 i% -103% 104%-105%
99%-101% 93
98* 97* • 9% 100 -101
20

-

26

20

-

-

-

91*- 93%
93

-

95

102%-102%

GO’

-

60

50-50

*

67%- 91
95
103

-

96

82 ;96

-

-103 V

100%-100%
75-75
50-55

97%70
50

-

86%
96%

92*- 95*
9G*-100

98” 95*
77
55

77
50

-

-

97”
*9
53

6

RAILROAD BONDS.

18T6.

January. February

March.

BONDS.

Albany & Susq., 1st., 112*-115* 114X-115 114
do
2d
106*-107 107*-108/, 109
.

do
do 1st

con.

-10! /, 100

100

-109

-

112/,- -116
H5i/2 115*--116
106*- -1(7* 106* -106*
100 --102
99*- -100
!!0
-no*

-

111
■ -102
•

■

guar.

i06*-107* 105* -IO7'

ice" -167" ioo* -167'

■
Alton & T. H., 1st m.
86 - 92* 88*- 90* 90 *■ 92
2d pref
do
73 - 73/, 73* 7»
2d inc.. 67*- 71
do
104 ■ -105*
1(2*-104
Am. D. & Imp. bonds 109*-102
20 -29
™
Ati. & Pac. I’d gr’t m
-

-

••••

••••

92'

Bell’ville&S.Ili.lst 8s
B. Hartf. & E., 1st m.
do

18*- 20* 20*- 24*

17*- 18

guar

19

Bost.& N. Y. Air-Line
Buffalo & Erie. new. 103 -105
Buff. N. Y.& E! 1st,’77 85-86

Bur.C.R.&M.,1st,7s,g
Canada South, lstm.
do
wiihint. ctf
Ced.Fal’8& M., 1st m
Cent, of N. J., 1st new
do
1st consol

23

104*-105* 106
90
90

-

93
93

gold....

26

-

108
95
95
1(5
50

-

91
73
99

93
93

-113

-

-112* 108

-108/, 107* -108

■

-103

101

■

-101

•

-101*

-

-108"

100

-116* 112/, -113

-

■

-101

no* -no*
-

-

-

-

-

-

1*06
91*
74
96

-110*
94
74
96

-

-

-

113
101
110
106
90
70
90

108
101
99
■ -101*
-110
107’
-108
90* 88
69
70
58
93
-

■

-

oi"

-

-

20
20

22/,- 23
24
26*
95 - 99*
-

105
90
90
03

•

-

18*- 20*
-

21

21*

-

-

99*- 99* 99*--1(0
:02
103
103*- 1(4

105
92

.-

20
2)

-

-

•

-

41*

-

50
60

■

-

•

-

85

•

-

18*
18*- 21*

18

l64'

90
88
101
- ■105*
43
40* -42
50
45 - 58

87
87
91
104
- 10395

91*

-

90*

90
88

■

-

■
■

-

-

■

51

86*

90

•

-

04
90
88
90
102
- •102
41
46
52* 50

91*

•

-

-

105

-

9i*

-

92
-303

-

42*

■

•

•

-

51

•

88
■114
99*- -101
90 - 97

86

90”

-

-

18*- 19
18*- 18*

106

-

•112* no

-

•105
- 103

-

•111*

-

'-04*- •:05

112

-

•

5;

-

50*- 5 i*
•

88

9)

-

-

-

■

-

-

•

■

-

-

-

•

-

-

111

96*

97*- 98*
30*- 35

97*
30*- 33
-

ill

■

98*

99*
35*

■

93'

•

•

93
25 - 31
32 - 35
25 - 25
31 - 31
100 - 100
iie* - 116/, 116*- 118
99 - 102
103 - 103
113 - 114* 115 - 117
110*- 110* 111 - 111
100 - •101
102*- 103
105*- 106*
106*- 107
105 - •105* 101 - ■1(2
103*- 103* 102 - ■102*
95 - 95
95 - 95
103*- •104
104*- 101*
-

32 ■
32-32
28 • 33
27-29
100 • ■100
Chic & Alton s. f
115 ■ 116*
do
lstm..
1I1X-U2X 114 -115
107 • •107
do
income. 104 -105
!06*-107
1-3 —114/4 114 • 115
113 -113
Chic. ts. & Q.,lst
do
cons, i
107X-107* 108 -108* 109* ■110
00
•102
Chic. & Mil., 1st m... 95*- 98* 99*—101
105 -108
1(4*-106
Chic. & N.W., s. f.
05/, 107
100 -104/
04
int. bda. 100 -102
do
-106/,
do
consol.
100X-102* 100*-103* 02* *104*
95 - 95
95
95
do
cxtens’i 90 V- 95
do
1st mo i t 103*-107
102X-103* 103 -104
do
gold cp. 86*- 90* 89*- 92* 92* 93* 90*4- 93* 91*- 93*
92*- 92*
do
gold reg 85*- 89* 87 - 91* 92* 92* 91 - 91
109*- •no*
Chic. R.I. &P., 1st 7* 108 -1(9* 109 -109* 109 -109* no - ■110
98 - 99
98 - 99
do s.f. inc. 6s,’HI 100 -101
97* 98* 98 - 93
100
100
—
Cin. H. & Day., 1st 7f
do
cons. s. f
80 - 80
Cin. Laf.& Th., 1st m.
•

...

-

•

■

-

•

■

■

-

93*- 93*
27*- 29*
■

l66*
119
101

95*- 96
- 26*

26

-100
- -118
- -104
118* 114*- -115
112* 109*--110

•IOO
- 120
- •103

-

117*-

100
117
103

-

‘97**27

ioo
118
104
114

-

-

97*

■

■

■

28

-166’'

-

17*

-

18*- 18*

Novembek Decembeh

ober.

-

-

-

•

•

-

-

•

-

■

94*
-

27
22

-

iis: -118
-

•105

-

-116*

-

-

-

•

■

-10*
99

-

93

-93*

-

108*- -no
99 ■ -100*

21
21
100
116
102
116

-101

17

-

107*-109
88*- 89
67
67
65 - 68
8-8
80 - 80
14 - 15
14 - 14

-

■

-

ex- 17*

is

■

-

10

1

18

-

68"

10

■

•

-

94

68*

■

•

-

-

•

-

23
20

:07
91

107
87

•

-

-

.

100
- 100
- 108
89
70
81
18

ll 0*-l12*

-162* 101

-

-

-

04
fc9 - 89
r ox- -111* 108*--109* 109
99
99/,- •101* 101*--:02

101* 100

■

-

-

109* 109* -110

-

-

-

■

-

99
105 • -105/, 102*- 105
90 - 92
90 - 92
90 • 90
103 • -104
103*- ■105
37 - 38
37 • 40
52 ■ 53
52 - 58
51 - 57
86 - 86
’90* • 90
1'3V£ -HI* 107*- 109
70 • 81* 87 - 88
86 - 87*
61 • 86
1 0 ■ -no* 1(9*- ■109*
91 - 9;%
95* 96
94 • 95
93 - 93

tiox- -111
no* -111
-105
105* 101*- -101* 104 - -104* 104*- -109
105*- -106* 106*- -107*
- 107* 108
104*- -104*
103 - -'03* 103 - -105
103
103* 103 - -104* 103*- -106* 104 -105*
95
95
95 - 96
96*- -100
95
104*- ■105* 1(5*--106* 103*- -106* 105*- -108
89 - 93* 94*--95* 92*- 94* 92*- 95*

112
100
107
101
102
95

18
99

-120
105
- -105 V
-115/, 115
-

98
00

100
101
94
88
70
71
77
66
17* 18

-

-

91*

•

-

-

do
S. Joaq. Br
do
Cal.&t-.’et
State Aid
do
do
Land Grant
Che8. & O. 1st m., 6s
do
ex coup..

Oct

■

115

109*- -112*
98 - -101*
87 - 97*
-102
98
105*-108* 107* •108* U5*- •107* 106*- ■108* 108 - -no* 106*- -108* 108*- •109*
K4X-105
92 - 93* 93*- 95
93
91
97
91*- 92
93 - 93* 93*- 97
97*
91
93
92*- 94* 91*- 91* 92 - 92
91*- 92* 91*- 94* 94*- 95

convert..

Cent. Pacific,

21

Septem’r.

107*- -l1 8* 108

105 ■ -110
100 ■ -107
92* 91* 93
91* 92
70
70
73
68* 69
--101*
99/, -100*
99* -100
15
15

9)
91
90
«
87 - 87
103
- •103
103 •
100 -101* 02*-103
36
40*- 45
37*- 41 >4 42*- 50* 45 68-70
65* 69^ 60 - •64* 50
60*- 70
51
68 - 69* 68 * 69
60*- 69
85 - •86* 85
84-85
8714- 89
81*- 83
no
113 -114* 113*- 114/, 110*- ■113
114 -116
108 *-109* llOX-lll* 111* •112*4 108*- ■108* 103
100
106*-108* :07*-H0* 109 - 110* 106 - •108

do
large bds
Buff. & State Line 7s.

do

-

17*- 18*

-

August.

Low. High. Low. High. Low. High.
Low.High. Low. High. Low. High. Low. High, Low. High. Low.High.

Low. High. Low.High.

3d., 100

July.

JUNE.

Mat.

April.

94*

•

-

29

■

-

24
-100
- -116
- -104
- ■118

105

105
90
93
90
-106* 105
37
39
-106

-

91*- 93
-

92
105
35
54
54

87
109
83

-

-

■

-

-

56*
-F6*

-

-

106
90
90
- 108
40
54*- 58
55 - 55

-

88
87*- 89
-no* 107*- ■no
■

86*

-

78

-

92* -93
94
94*
■-

30

-

-

78
79*- 84
1(9*--no* 108

'94*

-

-

94"

-

31

-

91
93

94
25

86

-

82*

-

1(9*
92
94

-

-

-

94*

-

26 *

-

-

116
103

•

-117

■

-104

ICO
117
102
H6

: -100
-

-118*

■

-102*

■ •116*
115*--117*
111*- ■HI* 111*--111* 111*- ■112*
106 • -107
105*- •106 105*--107

108
104
104
95
106

108 • -109
109* 109 --109
104 - -104
•R4* 102*-■103
-104* 102 --103* 102*- -104*

-

-

-100

100

-

-

-106* 106

-

94*- 95*
-

-106

100

-100

-

-106* 105 K- -106*
94*- 95* 91* 92*
■

■

i(’)9’ •iio* iio*- lii*
-

*01*- -102* 102*- 10.*

90
111
101

-

■

■

•

91

-12/4
-101

,

....

•

•

•

•

96

*"

....

• • 1 •

C. C. C.&I.,l8t7s,s.f, 106 *-109
96 - 96
do
consol, m
Clev. P. & Ash., old. 101 *-102
do
new
103 -103*
Clev. & P. cons. s. f. 108 -108*4
do
4th mort.. lOOX-lOi*
104 -106*
Clev. & Tol., s. f.
104 -105
do
new b
45 - 56*
C. C. & I. C., 1st m
13 - 15
do
2dm

"

111
98
105
-104
104 - -105
-104* 104*- •1C6* 102
109
lOS^-lOO* 109*- -111
-

109*--HI*
98^ 100 -100
-

-111
98
- -105

107*- 108

-

-

-

-1031*

-

-109

101X-102* 102*- -103* 103*4--R3*
-106

1(6
105

107

-

-107* 107*--167*

102
-105* 105/,- -1C6
52*- 55* 50
53* 46
-

17

-

99

-

75

..«.

75

-

75

....

-109

109
98
102
104

-

75

....

18

15

■

-

-

17

15

-

-1(3

-

49*

-

-

-

15

100
104
104
105

108*-10J* 108

300
- •105

104 - 107
104/, 104 - 107
107 - 110
•106
103*- •104 104*- •1(5
107 - 1(8*
107 - 107
102 - 103*
102 - •102
40 - 45* 44 - 46
10 - 30
60 - 60
110
111* 111*- 113
109 - ■109
108* no
100 - ■100
101 - 101
108 - •108
108 - 108
106 - ■108
108
-109
106
-109
106 - •106
101*- 102 102 • -103

-103
-105

103
104

-

•

•

102*- 104'
105*- 107
103 - 103*
42

•

-

45

100
103
105

....

....

•

...

-113

-

-

coup. 1
reg. 7s, ’94. no
& W.,2dm
7s, conv.
102

-111

til

-

...

.

-112 ’4 112

....

-

....

....

—

—

....

....

1st, 7-J,
104' -105
Dub. & Sioux C. 1
104 -104
do
24 di
E.Tenn. V.&G.l:
87*- 88
Erie, 1st m., exten... 105X-107
do lstm., endc

'

.

...

104 -104
104 -104
88-89

106*-108*
101X-101!*

-104
-100

100
97

106
113

....

-

-106
-115

-100* 100X-1011* 101*--101/,

-103* 100

do

2dm., 7s,’79...
3dm., 7s, ’83.
4th m., 7s, ’80

108*--108*

-112*

....

.

do

do
do
do
do

....

112*-113* il3*- -11*3* 110* -111
IO914- -110* 109 -109*
107X-1C8* 107*-109
105
-105
102 -103
103 • -104
100*-102

do
do

do
do
do
do

—

-103

103

-104

104

-

88

-

90
109*--111
-

ioi/,--’62*

101*-104* 101*- -103
ioo*-:ot* 102*--103*
97*- 99
104
100 -105
5th m., 7s,’83... 96 -109
-1051*
105
107 -108* 105 -105
-IO5/2
Gal. & Chic., exten
82-82
79*- 79 *
81/,--81*
90
92
83 - 85* 85*- 88
63 - 08
2d m., ’93.
57 - 63
do
53*- 58
85 - 85
*
—
Gr. Rap. & Ind., 1st
-

-

-

-

-

90
110

-

-

106
106
90* 92

-106
-106
-

92*

1(6
106
92

-107
• -107
■

92

-

-110

-115* 106*-107* 109

-

-

-

-

60*

110

-110*

108*-108*

109' -109*
104
.03

iio
106
103
106
108

-

-

-

60'

-lii’ 104*--111

-106
■ -103
- -106
- -103
R9*- -111
-

-106*

106'

■

103

•

-100
-107
-106
-109
-106

iosVica’*

107 -107
108 *-109
105 -106*
-no* 108 -109*
-105* 105 --106
40
35*- 38
12

’ 107*

-

-

-107* 103X-104
-104* 102 -103
-101 * 101 -101*
-103
103* -104*
95
98
-99* 97 - 97
97
94
99*
-1‘ 6* 106 ■ -10S
107*- •108* 107* -'08*

102*--104
103

-108* 107 -108

-no*

-100
- -107
- -109
-

-

•

113

-

-

■

?

f0
80

-

-

107
100
164' • -105 106
103 - -304
105
104 • -105
105 - -106
108
108 - -109* 108*- -109* 109 ■ -111
104 - -105
104*- 105* 105 ■ -105* 105
107*- -108* 108 --no* 108 - -no* 109
105
103 - -104* 103 - -106
102*- -105
35
39 ■ 39
39 • 41
37*- 39
5
5 10*-no* 12

-109* 108X-109* 110*- -no*

-

80
80
no

-107
-104

-

-

-

106
100

-102

102

■

-

-

-106

1(4
101
98
98
100

-

-

-

100

-

-103*

100

-100

105*-:07*

1(5 -106* 106
105 -105
104 -K 5
103 -104
104 -105
05X-105* 105*-106X 106
103 -304
93 - 93>* 93
93*- 95* 93*- 95
90-92
108
109 -113
108 -109
110 -110* 109 *-110

-106
-106
93
-108
-

106
106
88
108

-106
-106
-

92*

-110*

102* -102^ 102* ■-102* ioi*-:6ix
100 -10 )
101*- •101* 101*- 102* 102* -103* 103 *-103* 103 -103‘4
98 -ICO* 100*--100.^ 100 -K2*
102
101*- •102* 1(2* -103* 103*-103* 103 -103* 97*-100
98
98
98
98
99
98* 98 -100
100*- -100* 98 -100 100 -101* 100 -101*
-101
100
93 -102
01
103
-103
103
102*-102* 99 - 99*' 99 -100* 10.)
■103* 103 •103
106
105 -106
-106* 106 -IOO*
'05 -106* 106 -106
105
■106
105
105
106*- -708* 106 -106
101

-

-

-

-

-

■

-

-

-

-

-

-

■

-

86'

-

88*

61

-

64

88
64

-

90’

9i’

64

•

65

91*

-

65

-

■

91
60

-

-

93
62

93
60

-

93
64

80-80
91 - 92
61 - 63*

62

90-90
85-85
35 - 37

85
36

91*

-

-

93" 95*
65

F5
37f

36

98* 100
68* 69

-

65*

-lOt
-

70*

-

•

do
Han. & C.

• .

•

75*

-

33

...

...

.

30
-110

30
110

-

cons.

Leh. & W. B.

78
-120
-120
-

■112
•

67

no

80
35
no

•

-

■

-

84*
36
111

36

-

110
77*- 80/, 80*76*- 77
119 116 - 116* 115 - 117
118*116*- 118
115*- 116
69 -

•

■

-112
50
30

112
50
28

-

-

67

-

70

80

76

-

36*
80*
120
119
69

8

88

S8

-

88

-113*4

1(9
50
27
5
70

65
30

5

5

70

-lii*

iii’

70
29

70

-

-

-

-

-

-

65
30
5

-105"

'36*

-

37'

-

-

88*

95*- 96*
101 *-103*
-101
- 96

2d m., gold.

-no

-

-

-no

no
85

87

-

108
87

-

70
70

-

-

-

-

75

110*-111

-

•

-

-

65

-101
.

-

..

102
87

8J*- 91* 91*
106*-107

-

....

...

-

....

—

....

...

—

-

■

-

-104
87
-

-

-

-

60

10?*- -m3

28-29

95*- 95*

20-20

94*

-110

lis"

-

-

85
24

5

-

-

76

98
75
110

-

-

15

-

98

-

75

104
85
91

-104
92

92
107

■

-

95*

■108

-105

-

-:06*

95

•

-

98

95

-106
-

-

98

88’

-

-

(3

101*- -105*

86*- -87*

io3*-iook

-114

114

*2*

102*-106

-114* no

-

-

86"

104*- 105

90-93

91*- 92

101

101*- -101*

85

-105
■ -101

105

■

-

8 *-

89*

-no

-110

-

-111*

24*

15
-no
80

75

iio* -iio'

-

24

76/,- 76*

'84

93

-

84

-

no

80

-

no
80

*1*

-110
-

84

-

1

5'

102
07
104*- -106* 105

104
;06

.99

■

•

-1(5
-107
-

56

■

-

99^

7i*

-■•05

104*--105

-107*

.06

-

-106

-105

104
95

-

-104*

-

'98*
68

99"

-

-

-

70

-

'60*

-

90
105

-

94

105*- 105* 106*- -108*

-105*

00

-

-113

100
• -103*
li2* -113* 112

102

03X-105
94

94

-

68"

62*- 62*
03 -104*

-

-

-

-

-

lOi’ -167"
-

82
107

-

-

1( OK

82*- 82*
110

-104*
-107

15

106*
105* -105* ‘04 -104 104
103*- ■103* 100 -100
-03* -104
87*- 87*
92* 92*- 93
92* -93* 9i
-

104
106

-

-

(8*-100* 100X-101*
110

-

-114

-

-

-

-

93

110

5

80
12

•

102

-

95

-106

-103*
-

65-65
20 - 23
5-5

80-80

110

-

106*-1'16* 06 -!06
:00*-101* 102*-. 02*

106

-?09
70

73*
112
110*4-111

65-65

...

-m3* 103
113 -113* 114

109
68

-

-

-

101

75

-

*73*-

76

65

62*- 62*
’04
103* 103 -105
.06
105
-106* 106*- 107* 105* -106
■105
104
.05* -106* ’06
104*- 105
60

-103
102
-104* 104'4- -107
104 -104* 106
-106* 105 -106
104 -105
104*- -1051$ 104 ■ -104*
-100
99
99
-100
97 *-100
99
99
99* 9)
96ya- 99
94* 15*
97*- 98
95* 97
105* -106
106* -107*
103-4-106

....

i lot

75

72
70

70

-108
- 87

36-36

-

-

5'
61

36

-

-

-

68

-

'80* - 83*
79
77
79*- 82
80*' 75*- 78
-120* il9 -120* 118*-118* 116*- 117* ll <*-119
n.9*-119* n ex- 117m 118 -118
119*—120
79*

-

-

-

ieo

76

-

-

....




&4*

-

•

—

...

m.... 101
•96

equipment.

-

35
-l!0

-

-

cons, gu,

letm.8s,’82,

50

-

-

108

do
do

-

.

85*- 89*
do

40

-

cp. 1st,102 -103
reg. 1st 102*-104*
cp! 2d, 96 - (6
reg. 2d (5 - 96*

Long Dock
Long Island 1st

80

....

...

do
No. 16 inc. 12>4- 12*
Laf. B1.&Miss.,lstm. 64*- 64* 65
103 -104
104
Lake Shore div

cons,

-101
-

-

Iowra Mid., 1st. m., 8
Jefferson, 1st m
Joliet & Chic., 1st m.
Kalam.& W. P., 1st..
Kans. Pac.,lsr,6sF&A
do
No. 11 inc.

con*\

-

82*- 83

-

International, 1st, 7s

cons.

82*

....

III. &So. Iowa, 1st m
Ind. Bl. & W., 1st m.
do
21 m..

do
do
do
do

-

-

do
witluctf.
Hud. R., 7s, 2d, s.f. ’81

conv.,

8*1*

76k-

m

Harlem, let, 7s, coup.
do
1st, 7s, reg...
Houst.& Gt. N., 1st,7s

do

77*

105

••••

....

35
110
8:*- 84*
79* 75
81*- 83
115 -115* 117 -118* 118*--120* 120
115 -L7
117X-118,8 118*--120* 120
66 - 67*
61 - 61
65 - 65
—
—
112
112 -112* 112 -112* 113 - 113
67
50 - 50
60 - 60
35 - 35*
26 - 27
23*- 36
11 - 11* 11
12
10 - 10
61 - 61* 62 - 66* 67 - 68
35
.35
35 - 35
95 - 95* 95*- 95*
85*- 92
80
71 - 80
07^-107* iio' -no
95 - 95
85-95
90-90
-

.

8s conv.

.

101

1st gua
n

Mo., 1st

30

do

•

101
102*-1C5
04* -102
U5* 115* -no* 113 -114

-

83

:107P

87 - 87 *
91*- 92*

82*- 83*
07 -108*

10:54- -102* ;00*-102
ill -153*
-112
112
•

64

RAILROAD RONDS.
Prices of Railroad Bonds
for
January. February

BONDS.

March.

April.

Low.High .Low.High .Low.High
10!%-102/ 102%-103% !03%-104%

Mich. So., 7s, 2d m...
Mich. S. &N.I. s.f.7«*
106%-108
Mil.&St.P.,lst, 8s,P.D 115 -117
do 2dm. 7
3-10s,P.I) 95
99%
do 7 s, §
go'd, R.D.. 90
943*
do 7?, £
gold, It. D. 91
92
do 1st in., L. C. D.. 96
99%
do 1st m., I.& M.D.
85 %- 90%
do 1st m., I. & D... 80
83%
do 1st m., H. & D.. 80
83)$
do 1st m., C. & M.. 99
%~ 93 X
do 1st cons.
skg. fd 80% - 84

108
114
96
95

-

-108%

-115
-

Mo.K.&T.cons. l.g.s.f
do
do

ex

coup

•

•

•

•

•

•

.

*00%-’01% *01%-103
-106% 106/-107

84

102

1!5%-115%

114
97
100

97%- 97%

100%-100%

-114

114

98
-100

103

-116/ 116%-118

98%-K0*

-

-103

*

100

-103

-103

100

115
96
100

-102

il00 -100

-115/
98 ~

97
88
97

-

89

-

18%

-

97

89

-

88%

....

,

—

.

60

...

-

.

.

-

....

!*8
96

93

-

-100% 97
89% 89%- 93
90
97% - 97/

-

!

.

-

...

-

....

83
96

-

-

-

■

97%

-

88

97*%
97
49%- 59% 59%- 61

.

-

88
,95
88

-

-104% 101%-101% 101/-103

-111

108

-

-102%

I0i%-102%
92

94
91
91

-

-

94

96

-

91%

!

86/- 89%

90
57

...

90

-

9J

57

-

90

-

95
88

87-88
100
87
90

01

-

-103%

87

85%- 86/

91

-

SO
85
85

-

97%- 98

-

90

-

90%

-

102* -104%

90
85
85

87% - 88%
7%- 99
87
89%

98%

-

96

101

101%-103

101%-103
88/- 88%

97

108/-108%

116%-117%

98%

-

101%-102%

93%

-

99%

-

-108
-116

-116% 110%-116% 116
95
96 - 98% 97

95

60

-

_

ill

102%-103

-

91
98
90

97%
91%

104

-110/

-101

-

-

October. November December

103%-103%

no
116

-

-

-

Septem’r.

107%-lO.t/ 108%-199%

-

<-3%- 98 '4

7s, assented

Morris & Essex let

-104

-'09% 104

-

-

95

•

August.

.Low.High. Low.High. Low.High.
Low.High Low.High. Low.High. Low.High
Low.High*

M 102

-

97

—

....

-116
- 98
-101

July.

-102%
102
91%- 94% 92*4- 94% ;oo%-o2% 94 -102^ 102%-04% 101%-102% 102
93*4- 94
95% 94%- 97% 94
84
89% 88
94% 91
89%
88*4- 85% 88
84
93%
88
83
91
83

-

-

103

-109% 109

1876—(Concluded).

June.

_

98%-10i

-

90

.Low'. High

—

-

m.

96*4
97%

-

-

do 2d

109
115
97
98

May.

-101
-

89

-

91%

_

115%-lio 116 -117 116%-1 8 117 -!19
54
57
50
do
59
114 -114
21 in. no%-i*2
114 -117/ 117
58%- 58% 58 - 58% *57' - 57“
% 108%-108% 108 -no
-118% 118%-122 112%-118 116
do
110 -110
110 -111
bond, P0(J 100%-lot
110 -110% 110
-117% 115 -116 117 -118
’.02 -102
-111% 107%-10?% loOZ-109 105/-106% 106
:04%-104%
do
construc’n 103 -104
1 CO
100 -100'
“-106% 105%-107%
-112
do
I02%-102/
7s of ‘71
107 -108
90
92
95
08%-'09% 09 -110 105 -106% 105 -106 100%-100% 02 -103
95
do
1st con. g’d
92/- 92% 92%- 92/ 92 - 94
103%-10 % 107 -103
104%-105% 105 -105 104%-104% 90
18 -108% 107
Nash. C.& St. L. 1st,7s
-10%; 106 -107/ 103 -103% 104 -104
-103% 9 »%-101 10**4-101% 102' -1< 2%
100 -100% 98 -101
Nash. & Dec., 1st, 7s
100 -101
100 -101
98 -10J
86
82/- 83
83 - 83
86% 86%- 89
N. J. South., 1st
87 - 87
86
86
m.,7s
85
90
20-2)
85%- 87% 91
2) - 22
91
N. Y.-Cent. 6s, ’83.... 102
23
25
88-89
23 - 20
87%89* 88%- 90/
-103% 104 -104 % 105 -105%
20-20
20 - 20
do
105%-106
20-20
6s, ’87
01 -103
101 -102%
20 - 20
103 -104% 101
do
i03 -104“ 104 -104% 102%-10%
-106% 105%-105/ 104%-106 103 -104 103%-105% 100 -106
6s,real est 100 -101%
1< 4 -105%
101*4-102 101 -103 102 -103 100 -100
do
106%-106% 103 -106 105%-106% 105 -105% 102
6s subs... :oo -loo
100 -100
:
100 -101
101%-102
102
-106%
02%-103
do
102/-1I 3 100 -100 100 -100 100%-101 101 -102 100 -101 102/-102% 100 -100% 10')%-103
7s, ’76
103 -103% 100 -101
101 -101% 100
-102
N. Y. C. & H. 1st,
100 -101% 1L2%-103
■_
-101%
100 -100
100 -100% 100%-101
cp. 119 -m% 120%-122!:i 120
-123
120 -120
do
1st in., reg 115
116 -119
115 -119
119%-119% 120 -12i 121
118 -120
120 -120
Northern Mo., 1st m. 85 -117%
115%-117 116 -118 116 -118 118 -121% 118 -121% 118 -119% 118 -123% 118 -120%
M- 86% 87
88
91 %- 95
-119
Ohio & M., cons. s.f..
117 -118%
P4%- 96
94
96
96 - 98
92 %- 99
116/-118% 118%-120
98%- 98% 98%- 99
95% - 98% 96%- 97% 96 %do
98%- 99% 98
97% 9?%- 98*4 96 - 97% 115*4-118%consol.... 91%- 99
99 -10)% 96
98%
06 %- 99
98
94
95% 92% - 92% 91/- 92
98;, 98
do
2d con ol. 7l
90 - 92% 83 - 90
98/- 98% 98
98% 98
74
76
99% 94
81
96
91
77%- 79
do
7714- 79% 60
92% 90-91
1st Spr. div. 60
90 - 91% 81 74% G9%- 71% 68%- 71% 62 r- 69
60
92% 78 - 79
25
63
70
65
65 - 66%
Pac. of Mo., 1st m...
42 - E8*4 45 50
55% - 58%
50
88*4- 91/ 87%- 88% 90
40-40
46%
92
9)
do
2.1m...
92% 90 %- 91
70
92
71
70 -71% 73-80
94/ 94%- 93
92/- 94
76
Peninsula lstni. c »nv
76
77
92%- 93% 93
78
78 - 84
91*4
82
100/-102 102%-102/ 100 -109*4 !00
94% 93*
94%
84% S4%- 84% 83
Pitts: Ft. W. & C. 1st 113
-100
83*4 83
84^ 82
82, 83%- 87
-115*4 V5 -115% 116 -118 117 -118 100%-100% no -loo 100 -101
100 -103%
do
96% 100 100 -1.3
119 -119% 119 -120
2dm. 106%-107
100 -103
100 -103
107 -108
117 -120
120 -122
108 -109
do
3d m. 102 -102
1C9/-109% lio -:io% 110 -111 108 -109 109 -110 lvO -121 119 -119 l;0 -121% 120 -120
102%-103
103 -105% 102 -103
109 -111
110 -112
1(3 -101
Quincy & Tol. 1st, ’90 46
114 -114
10-4 -106
49
114 -114
49
106 -106
54
1(5 -Kf5
55
60
105 -105
Itenss. & Sar., 1st m
48 - 43
101 -l.%
51
50
55
103 -109
60
101 -104
55
*60
55
55
1)5%-115% 116 -118V
55
do 1st m.,
55
55
60
114 -114
60
60
65
reg
115 -1 5
66
116 -116
105 -110
Rone & Wat. 1st m.! 101 -101
114 -114
105 -119
Rome W.&! >g.con.1st 88
li3 -113
%- 90
92
93 % 93 %St. L. & I. M. 1st m..
97*4 93
93
80 -89
86 - 86
95%- 97% 96
99
85
190 -101%
85
83
do
83
99 -101
2dm... 59
101 -102
62
70
102 -103% 103 -101
75
72
G2%- 72
75
95
St. L. Jack. & C. 1st. 100
77 - 77
99
77 - -7%
97/-100
101
-101
70
102 -103
102
70
?0 2 -10 4
70
101 -102
Second Ave 1st m....
70
101 -102
102 -103/ 103
93 - 98
-103% 104 -104/ 104 -104%
Sixth Avenue let m..
97%- 97%
100 -100
101%-102 10!%-101 1C4 -104%
101 -101
South Pac. of Mo
60
61% 66 %- 69/ 97 - 70% 66
So.P.of Cal.lst,ser.A.
99
99
67%
60
64% G0%- 64
90 - 90% 90%65%'- 69% 67 - 67
South Side 1st m..
90*4
12 -94
G9%- 70% 70 %- 70% 69 - 70
92
99
do
sink, fund 58-58
85
85
57 - 75
_

m

-

-

_

..

-

-

.

.

-

#

-

,

.

—

—

-

-

-

-

-

8*/ *88/-

-

-

■oi%-!03

..

*

i02%-103%

..

_

-

-

-

-

-

-

-

-

-

-

-

-

-

-

—

-

-

__

-

-

-

-

-

-

- -

*94%-

-

-

-

-

-

-

.

-

-

-

-

....

-

...

-

-

-

..

-

-

„

__

-

_

-

__

iio%-ii7“

■

-

_

-

—

.

_

-

-

_

.

-

,

-

-

-

.

-

..

-

..

.

-

l66%-10i

-

-

-

_

.

.

..

....

—

..

.

—

.

....

-

....

..

-

—

....

-

-

..

...

.

...

...

-

....

....

—

-

-

.

—

...

-

.

-

.

.

.

...

-

.

.

-

-

Thi'd Avenue
coup..
Tol.Can. So.& Dot.1st 25
Tol. Peo.& War.,E.D. 78

do
W.D.
do
2d m.
do
cons. 7s
Tol. & Wab., 1st ext.
do 1st m. St.L.div

do

do

-

—

55
82
74
35
35

-

-

-

59

54
87
81
45
45
90

8t%- 87
-

80
43
39

55
87

-

-

-

...

.

33%

-

-

..

35
75
75

—

-

83/

-

89
80

83
-80
-

47

42%- 43

8)
80

-

-

81

33
81

-

83
75

80%

80/- 86%

—

.

-

-

33
85

35
86
86

-

-

-

35
88
87

89%

88
64
64

67

-

03
-

...

33% - 44% 38

90%

-

65

-

50%

34

64/

40

35

67
63

-

1

-

-

92‘

90%- 9’
67 - 69
65
66%

...

-

30
95
66
60

94%

-

67
65

-

1

-

36

-

do

2d

60

m.

-

8)
60

79

-

85

85

-

95%

-

Albany &

Sus. 1st m.
2d mort
3d mort
1st consol, gua’d...
Bost.Hart. & E.,lst m.

67
60

-

Guaranteed

Buf.N.Y.&E.lst.m.1?!
Large bonds

bonds, 1916...

Bur.C.R.&M. 1st,7s,g.
Bur.C.R.& N. let,5s.'7.

-

-

—

31
i06
104

30%- 31 *

25
30

96
70
68
10
59

68

-

65%

*-

-10i%

-

99
72

-

-

20
51

-

-

-

.

-

65

63

-

70

-

-

,.

73

-

73

73

-

73

70

-

-

...

73

70

-

April.

May.

75
70

32
32

78
71
21

-

-

-

47%- 47%
105 -100%
99%-100%
9«/- 92%

102

-103%
101%-102%
101%-102%
75

-

...

1

88

99%-102

-

-

-

75
7'0
2)

69%

-

-

84-87

30%

-

-

99

-

75
64

March.

25

20
37%- 47
106 -10i%

38

-

85
26

91/- 95
62
10

....

25

-

62

-

-

88

-

80

-

-

...

June.

July.
August. Septem’r October.
November December
Low.High. Low.High. Low.High.
Low.High. Low.High Low.High.
Low.High. Low.High. Low.High.
K*8 -1G9% 109
Low.High. Low.High. Low.High.
-109/ 105 -107% 107 -109% 109
101 -10l
-110% 109 -110% 107
92

-101% 8;)%- 93

...

Bost. &N.Y.A.L. 1st.

-

86
69

-

91 - 91%
60
62
62 %- 63

-

1877.

January. February

BONDS.

-

69

-

8:8
26
•25

37

-

88-90
84-84

103/-106
-105
too -100%
91% 89/- 91/ 88% - 91% 92
94
94%- 95% 91%- 92% 91 %- 91% 100%-101
98
9 % 99%-102%
90%- 91%
98% - 99
99%-101
101 -102
-102!% 98 %- 99% 9 t
90% 99%-100% 100%-101% 101%-103% 101%-102% 102 -102%
-102
103%-104
98% 98%- 99% 99 -100
100%-101%
100%-101
75
101%-103% 102%-h 3 100 -103*4
70-8)
85
85
64
75
65

-

-

37

3)

—

99

87-88

85

—

_

.

9G%- 96% 99 -112% 100
-101% 96
97%- 98% 98 %- 98% 98 -100% 101
97%- 98
98%- 98/2 98%-! 09% 101

1900, reg.
Winona & St.P. 1st m 75

-

-

38

80%- 87
80

.35
37% 36
102%-103% 103%-105%
35
36/ 34
Pdgr?s. 100%-101% 10!%-102% lt'4%-105% 103%-105% 104%-1< 5 104%-106 '4 103 -104
104%-106%
102%-103% f-8%-100% 9.9 -1C0% 99/-101Z
94 %- 95%
102%-! 04
95%- 97
91
9295 90%104%-105

West.Un.Tel.l900,cp.
do

-

_

-

....

99’

38

-

-

-

..

41%

-

-

-

-

...

•

-

60

-

73
38
37
86

-

...

sink. fd..
Western Pacific

New

_

^

_

45%
85%
87*%
92% 80
-61% 61-04
60
68%- 73
53%- 59
58
64
64%- 68% 60
32

85

-

__

74
35
26
83
60

do 2d mort
do equipment....
do cons, conv
Union Pac fic 1st m..

85

—

_

15
14

-15
14

-

90

-

91

-

-

...

38

-

95
91

40%

-

-

-

91
80

92

-

93%

93

-

10%- 10%

...

—

14

-

14

91

-

9i

90

-

91

-

92

97

-

38

-

5i

-

51

--

39

51
51

lf)i%-105

_

8-8
97
97

99" -ioi
-

...

100
39
45

-

40

45/

-

43
83

-

50
43
80

11%-11%

45
40

-

-

45
47

9

-

101

-103

ioi

101%-10!%

-

79

-

-

101
100

-103

10

1(9

95

97

-109% 108
98% 93

-1C8
93

-

^

51

_

-

10

-

-

48

-

45
5)

45
45

78
108

82

45

-

48%

-

M
108
57
51

,

-110

108

95%- 95%

-

-101

101
101

93-90
10
11

-

-101
-101

-104% !05%-103% 106/-107

101
101
107

-111

95%- 91%

51

11%- 12/ 11%- 12
11/ 10
13
13% 13

ioi -ioi
101

-

10

-

-

ii

11
12

ii

-

11-11

-102/ 102%-103%

101

-102% 102%-103%

-102
-

...

....

-107% 107%-103% 105 -105%

ess

45

110

-

-

9

....

-102
-100

103

-107

-

O

-

....

-102

107
94

-i0‘
^5

62*
5)
10

—

.

10!

.

79

10%

5-9

-101/ 102/-103

39/

-

..

-107%

91

_

mm

...

Can.S. 1st m.s.f. coup. 50 50
With int. certf’s... 52
55/
Cedar F’ls &M.lst m.
84%- 85
Cent, of N.J., 1st, new 109
1st mort., consol... 75 -110%

88
80

_

40
43
40

-

-

45

47%
40

44

-

46
52
77
109

52%

54
52
- 77
-111)
-

54

-

59%

59

-

56

62%

58

60%

-

-

60

58%- 62
58

-

53

-

61% 60

-

59%

61

59/- 59%

82%
60%- 61
78
73
80
85
85
86
87-88
-110/ iio -114%
109 -110% 109
-109% 111 -112 112 -112%
59
55%- 72% 47
59/- 65
5 ’%
66
66%- 72
Leh.&W.B. con. gn. 61/51
67
70/ 65
57%
54
66%- 68% 65
66
63% -31
54
3)
53%- 63
63
65
61
35% 26%- 28
63
65/ 62
Am.Dock&Imp.hds
25%- 28% 20-26
—
40
6 >%- 6 i%
6;/- 64
21
49
40-44
26% 22
Cent. Pacific gold b.. 107
30% 31 -36% 32/- 34% 27 -33
35
37
r
42%
41
40
41
8% — 33
40
San Joaquin br’ch.. 91 -108% 106 -107% 105%-1C6
106 -107% 108%-110
43
42% 45
42
47
36
41
4l)
42
109%-110 107%-107%
Cal. & Oregon 1st.. 89 %- 92% 91 %- 92% 90/- 91% 85
87
106%-106% 105%-105% 105%-106% 106%-108%
86 %- 90%
90/ v0*4- 90% 80
107%-107%
State Aid bonds...
83
87%- 89
88% 86/- 87% 88%- 9i% 88%- 89% 8)%- 90
88/ 84%- 86
91 -91
84%- 86% 85
107 -107
85 %- 83% 86
107 -107
85%
Land Grant bonds..
%- 87
66
107 -107
87% 86
87% 86
:07 -108
87/ 86
87
93%- 93/ 94%- 94% 92
108 -103
West. Pac. bonds..
02
106 -106
9i%- 91% 93 %- 93%
100/-101 100%-101%
1U6%-107% 106/-107
Ches. & 0.1st mort.66 26
1C0%-101% 10J -102 10l%-103% 102%-10 3% 100
26
91
22 -26
91
1st mort. 68, ex
20-23
-100% 100%-103% 100 -100
20 -22
ICO -lot
22
coup
22/ 21 -22
21
10i%-102% 102 -102
22
20
21
Chic.& Alton 1st mort 114 -115
22
23% 22%- 25% 25
29
115 -115
25
25%
113 -114/ 113%-114
Income bonds
2)
114
20
103 -104%
20
20
23-20
104/-106 107 -107 ll)3/-104% 105 -115 117 -118/ 112 -116% 115 -115“ 110 -114 111 -111 112
Joliet & Chic, let m. 106
-114
-108
108 -103
-105% 105%-1C6
113 -115
106 -106
106 -108
103 -104
103 -103
104 -106% 102%-102% 102 -103
La.&Mo.lst m.guar 85
103 -110
111 -112
85
101 -104%
84-85
108 -108
85 -86
107 -108
107 -107
80-86
St.L.J.&Chic.lstm. 104%-105% 105 -106
107 -108
85-85
110 -111
111 -112
88/- 83%
104
Chic. B.& Q,. 8s, lstm.
101
85-85
89
82
SO
84
111/-112 1U%-113% 113 -105% 114 -102 102 -104% 104%-105% 105 -106% 105
84
86
Consol, mort., 7s...
-114/
-107% 106 -107 103 -104% 104 -104/ 104 -104
-114% 114%-115% 116
5s, sinking fund... 109%-1C9% *09%-U0 106 -109% 109 -109% 109%-110% 110 -117% 115 -115 111 -115 113%-115 112 -113% 113 -115 116
-110% 103 -109 109 -109
-116%
C.M. &St.P. 1st 88,P.D 116
89/- 89% 89%- 89/ 90%108%-109% 110 -110% 111 -112 112%-112%
-117
90% 90-9 1/ 99
113%—114
91
114%-U5
2d, 7 3 10s, P. D
91
115 -117
91% 68%- 89
99 -100
89
93
90
94
90
117%-118 118 -118% 114 -114%
95/ 90
1st, 7s, $ gold, R.D.
95% 93
91
113 -114
113%-114
114 -116% H7%-119
94/- 97% 98
98% 99 -100
94% 87
95
1st m., La. C. Div.. 98/ - 98% 94
92
85
97
96% 96
87
90
95 -161
96
96%- 93% 97%-101% 102 -102/
95
97
95% 91 %- 92
1st m., I. & M
97% 97%- 99% 98%- 99%
91 -93/ 94
96
96
97
91
97
91
!0l%-103 13 -103% 100%-101
85
84
9i% 98 • -10)
85
lul -102%
1st m., I. & D
86
83%- 83% 86
103 -103
iO2%-103
75
80
86
89 -91% 88
82
10:3/-195% 106%-106%
81
80
88
84
78
S8%- 91/ 91
92
lstm., H. &D
82
93
80
75
HI
94
86
94%
82
83
88
83
9i% 97%- 97%
82
86
1st m.. C. & M....
87
89 -89
83/ 78
82
91 -9/ 91
86
95
85
99
93
93
94
86/- 88
83
95/- 97
97
83
86
Consol, sink’g fund
90
90
91
98/ 95 -97
98 %- 99%
91%- 91% 91
94
8’>*4- 85% 81/- S3% 81
94
95
99%-100% 96
2d mort
84
98% 98
7)
99/ 97%- 98% 99*-iOO l(k;%-10i%
84 %- 86% 86%90
82%
91
90
90
88
103%-103%
9)
91
85%- 8
86
86/- 87 ^ 87 !<r- 90% sn
89% 89
89% 91/- 9-’% 9t%- 93% 93%91
90
00
-

Convert




83/ 64

-

74 %- 82

76%

102%-105% 101%-107%
52
-

-

-

....

59

52
46

-52
50

-

-109

54%- 60%
-

-

-

-

-

-

-

-

-

-

-

-

-

....

-

-

-

-

_

-

-

-

-

-

-

-

-

-

-

-

-

-

-

—

-

-

-

_

-

-

1

-

-

*

•

-

—

mm

-

-

-

'

-

-

-

-

-

-

....

-

-

-

...

—

....

-

-

...

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

90

-

-

9>%

90

-

91/

90

-

92% .‘JO

-

91%

94%

92

-

93

-

RAILROAD BONDS.

Oo

—(Continued).

Prices of Haiiroad E5omls for
March.

January. February

July.

June.

May.

April.

August.

Septem’r.

October.

November December

BONDS.
Low High. Low.High. Low.High. Low.High. Low.High. Low.High. Low.High. Low.High. Low.High. Low.High. Low.High. Low.High.
Chic. & N1 west, skg fd.
Interest bonds
Consolidated bonds
Extension bonds...

100

100

100
10434-105% 105

-101

1st

10634-108
mortgage
Coupon gold bonds. 9234- 93

Registered gold bds
IowaMid.lstm., 8s.
Gal. & Chic, extend.

Peninsula 1st, conv.
Chic. & Mil. 1st mort
Win. <fc St. Peter 1st
dodo
2d
Chic.R.I. & P.lst m. 7s

91
90
108
100
104
80
70

-

-100

""

••#

94
105
100
104

'

-104
-106
8)
- 72

•

•

•

94
-109
-106
-106

106
102
104
75

-108
-104
-106
- 75

-106

102

—

i07%-108
99

-

10834-109%
9934 9934-102

-

-

-

,.

.

..

Col.Chic.&I.C. 1st

c:

98

m

mort, 1684
ioo%-ioi%
1st mort., 1891
101 -102
97 -*97
Coupon 7s, lfc94
97
Registered 7s, 1894. 97

-113

112“

-

86%

-

95
85
84
107
101
105

-

108 -109
7s, convertible..:... 100 -103
Dub.& S.City, lstm.. 104 -105
2d division
104 34-105
Erie, 1st mort. ext... 109 -110
2d mort. 7s, 1879...
102%-104%
3d mort. 7s, 1883... 103 -101^
4th mort. 7s, 1680... 10034-101 %
■5th mort, 7s, 1688... 100 -100

....

m.

-113
-107
- 28

86

88%- 92

-101

97

-

97%

-

10634-166%
29

334-

-

.

-

T

103

__

....

20
5

-

20

24

8834
8334

-

-

-

>

.

—

m

•

-

20

-

64
59
2J

_

'

104
110

2d mort

-104

107%-108% 1G7%-108%
9234- 93% 93%- 96
91%- 92
9134- 9134 92%- 96
80
92%
106 -107
107 -10834 107 -103
—

...

•

-

61
64

103
21
8

—

—

-108
-104

103
40% 35

-104
-

13%

-

-111% 108
106
108%-l 6
37

90

-

-

97
97

-

...

-

..

96
86
87
90

-

2;

6 )r
22

-

-

64
22

-

-

65
68

66
66

-

17

-

-102
.

-

-

-

1734

68
69

-

10334-107
10434-107
95

-

96

-

,.

....

-

...

“

••••

••••

—

—

_

_

....

_

-105>4

-

....

...

102
102
109
103

8034- 86%

8934- 91

10 - 10
1-1

10

i08

10

-

8834- 91
60-60
60 - 66
10 - 12

05
.

_

103
11334-1131/* 112
-

-103
-112

55

66

102

112

-11234

106

-108

05

-

-

-

82

-

92“
62

-117

112
104

101%-lf)l%
92
82

-

-lie

92%

-

102
111
108

102

-

69 - 69
15 - 15
2-2

65

63

66

-

75

-

1(

-111

105
86

634-107

-107

-104)4
.

-IP634

107 -108% 107 -107%
106 %-l 0734 10634-197%

-106% 10634-10734

9134- 92%
91 %- 93
101

-10134

92% - 97

82

75

-

-111

-

Il4%-li634 li5%-li634
103

-105

-104%
-10534

80

92
93
101

94
93
-101

r-

113

-117

72

9434- 96

87
83

90

-

82%

-

9234

....

-

....

-

...

N.Y.& Harlem 1st, 7s, 119

-11934 11934-120%
do registered
(19 -120
119%-120%
North Mo., 1st mort.
95%- 96% 9a%- 9934
86
89
Ghio&Miss.,con.s1g fd 8114- 85
Consolidated
81
8834
85% 85
2d consolidated.... 46
51
49% 50

tO

-

-

-

Pitts. Ft. W.&C.lstm.
2d mort
3d mort ..:

Rens’r & Sara. 1st
1st

c..

registered

-

-

-

15

97%- 99,%
83 %- 8534

15
.

-103

15

81

103

-118%
117%-118

8G

-

5134- 5434

ii534-iis34 114%-li6% iii

-104

....

-115

-106% 104

105

-

_

-

21

-103%
105 -10534
10! -101%
100%-101%
118 -12034
118 -11934
114 -114%
-

.

-120

11734-117%
-11934 117%-117%

9534- 96 '
7534- 80
83
8334

97
85

9134- 92

8734- 87%

-

103
103

-104
-106

101%-103
10134-103
119

60
117
116

_

.

95
85

-

-

-

102
86
92

87
92

-

55

94

-

80
97

97.

—

•

,

,

57

-

56

—

-

85

85

-100% 100
87% •87

-

8934

88

»•••

81
104
109

56

....

-

....

...

....

-

-

....

75

107

....

-107

-

15
114
104

■

99

-

89

85

-

117
111

-118
-113

60

105%-106
-10534 105%-105%
-104
-104

...

.,

89
70
85

71

-

71

-108%

67
72 - 72
84-84
-

-

87%- 87%

80

-

98

-10234

....

92%- 98% 9334- 95>4

-

93

....

88

114
40
108

-

40

-10834
8734- 68

67

-

67

—

.,

(#

Sinking fund

_

.

_

tii

109
84
68

_

-101
90

96

—

-

-114
-

..

-112
85
68

118%-118%
!9%-102
84

il7 -119%
-

99

-

87
86

85

-

85

-

32%

31

-

-

—

r

,

10134-103
88%- 88%

98

107^-113
4i

-

97 -101
35-40

45

10934-10934
85

_

87

So.Pacific RR.,1st m
7334- 73%
Tol.Can.S.&Dt.,let m 36-42
88
64
—

-

-

90
84

•••

"*•

••••

‘63*
39

-

39

85 - 85
85-85
..

.

-

....

-

85

-

....

-

65

....

....

99%
90
90
43

-

..

99
92
91
49
....

9734- 9934
8934- 91

-

-

45

—

69“

9134- 91% 9134- 91%

.

.

-

_.

8914 86
.,

- 99
85-85
-

..

....

71
3)
28
90

-

67

-

-

“

-

86%

-

60

15%- 15%
—

70*

3)

-

80

_

.

-100
44

95
44
90
55

—

_

_

91
19
1(8
106
103
117

-

-

..

90

-

93

-

—

70%
-

1

19

-108%
-106
-104
-118

-118
-112

109

-109

9734- 9734
—

__

-

87

-

84

-

87

92%

-K5%
-11a

87
105
109

-105*4

-

-110J4

15%

-115

11% -11%

115

-10534 105

-115

-105%

75

-

75

-

75
75

75
97

96

-

9734

85

-

65

-

86-88

94%- 95%
18
101
101
102
102

-

IS

-101%
-107%
-102%'

-10234

120% 121

120%-121
11234-113% 109%-113%
68
71
71
67%- 75
117 -119
115 -118
117%-118*
113 -1 IS
116 -118
117%-117%
-100% 109 -100% 101 %—103
!02%-103%
94
92% - 94% 93%- 98% 9734- 99
90
93
92%- 94
98% 97%- 99%
55
58
5134 5034-55% 5534- 57
-

111

....

—

.

-

..

....

....

-

-

-

-

-

-

....

-

91

...

-

...

....

96%- 97%
90
40

-

97
90

92
49

111 -111
100 -100
115 -115
115 *-11534
£0 - 50
105 -111
84 - 84%
65 - 65
85 - 85
95 - 95%

112
93
115
115
40
111
84
69
87

-

-

,.

-100%
93%
-

117
111
10 )

98%

-119
-112
-105

-115

91

-

92

119 -120%
112 -113
101 %—106

11134-113
111%-11!34
-115% 11134-112 111%-111%
46% 46%- 46%

-

-111
-

105

84%

-109

85
66

85

85

-

89

96%- 98

99%-l03
53-53

-

40

-

55

40

73%

7i%- 78

74%- 74%

30

35-35

35

i05

8334- 8634
66%- 66%

70
90

90

-

...

_

40
—

-

99%- 99%

—

-113

-

’7‘ik30

-

-108
85

-

66%

-

99

102%-103%
57

-

60

...

40

25

-

26

-

37

74

-

75

■

—

T,

71%- 73%

40-42

■

28
90
83

__

—

.

.

3 >

-

3)

....

-

74
77

-

81%
81%

.

!07%-l( 8%
11034-112

8i

-

82 - 85
91 %- 9434
19 - 21
103 -1C434
105 -107
,01 -102%
101 -K'2%
119 -120
117 -120

91

117%-117% 117 -118

,.

....

80%- 90

86

103%-104

....

97%- 98%
90

-

1*)5%-105%
107 -108%
107 -108%

••••

7434

-

«•••

-

-195
- 83
- 69

1(5

8i

10134-103%
42

113>|-115%
4)
46
60

-

_

•

-102
-102

-111% 11134-11234

....

-

83
30

102
102
....

...

86

__

_

.

85
60

72
96

8134- 82

-11734 117%-117%
117
-U7%

117
ill

-

117%-lis

79%- 81%
87%- 90%

-106

-

..

-

-

-106% 106 -108% 108
86
S634- B8
8734- 88

-

-10134 9934-10134

__

—

....

....

!02%-103*4
16234-10334
107%-10734
96
9634

5234- 5334

10434-10i%

-

87% - 90

-120% 11734-118

f

9734 96

....

-10534

105?4-106

8?

—

•*

115*%-li6*% iir,%-ii7

__

....

...

-1!2

-

-102

85

85%
7934- 80
-

10434-10534 105
104%-10534 102
103 %-l 0434 102

.

-

_

-105%

-11234

-100% 97

99
85

117

-

-

88

-

80

98%

-

103

-

.

-

103%-104

11934-121
112 *-11534

-

-

-100
-102

102

-103

70 - 71
95 %- 96

-119
119 -119
119 -120
119K-120
120 -120
i1734-118 117 -118
112 -11334 112 -114% 11434-115% 110 -112
111 -111
11134-11134 11134-111% 107 -112
104 -IO634 105%-106
105 -106* 101 -104
101 -102
102 -103% 102%-103
10234-103
114 -114
103 -112% 11334-115
106%-10ii34
114%-114%

S.Pac.of Cah.tstser.A




-

100

8%

-

-1U4>4 10434-105

116 *-117% 118

2d mort., pref
89
2d mort., income... 70
B.& S.I. lstm. 8s.. 83
6t. L. & I. M.lstm... 100
2d mort

1st,Western div....
Burlington div....

-

-

.

119
118

3434
10534-165%

111

_

-11834
-118%
9934 9734- 98% 9834-10134 102%-103
88
85
82
86% 8734- 91
9034
87% 84%- 65% 83% - 90% 82 %- 90%
50
46
47
49%- 49% 30%- 4834

-

....

With int. certif’s...
Tol. P.&W. 1st, E. d.

81

-

95%- 96% 9734- 97%
So - 88% 81
87%

Rome W.&O. con. 1st
75
St.L.A. &T.H. lstm. 10834-10834 1:5

South Side, let m.bds

-

-

-10334 103%-10434 102

118

97
87
86
45

90%

-

.

-

-

- 88
82%- 82%
8534- 8734 89
91*4

88
20

-

-

94

103

_

72

93%'- 97

-10234 10234-10334
-10334 l'.2%-103%
N.Y. Cen.&Hud.lst c. 116%-117% 11534-117
114%-11534 116 -II734
1st registered
115 -116% 117 -117
114%-llG
115%-117
112 -112% I12%-114
114 -11434
Hud.R.Ts, 2d,s.f. ’85 111. -113
-

-

91
82
86
20
103
103
102
102

9334

-

ins -n'6% io!)34-lio

-111
-108

__

10034-101%
-

-

94

88
71
47

-K 6

95%- 9534 9634- 96%
86

51*- 51*

10334-10334 10334-10534 10334-10134

89

-

90

108%-100% 102%-104
04% 104 -105
104%-10434 102
1C3 -10534 107 -110
108 -109
1-4 -105% 1(6 -107
107%-U8
105 -105%
li7 -107
104 -15
85
90
84%- 85
105 -107% 104 -104
105 -1063*
102 -105% 106J4-07 *
10734-108
!08%-108% 108%-1( 834 K 9 -10934
l(5534-10-(% 106%-106 34 107%-109
95
95
96
07% 97 -100*
95 - 96
96
96
95
97%

105

_

SO
-102
-100
80
-

-

98%- 9834
98% - 9934

10834-110%

75

00%

-

5

—

110
103

-

-

108%—10S34 ie5
105

111

-108i% 107%-10S

107
-108
101
-105
89 *

107

5%

-

47

—

T

-103

48

25-25
....

—

88
71

—

10034-10034 100%-101
102%-102% 102%-10434 10434-1^4% 104%-1G6%
112 -113
-13334 109%—109 34 110 -111% 111%-11234 11134-112% 112 -113

112
46%- 46%

30

-

_

70
14

-10234 IO234-IO234 102%-103%

—

—

-104

-102
111 -111
107 ‘ -108
106 -108*

105%-108
10434-104% 10434-10434
107 -107
-108% 107%-109

106
107
107

....

-104

-

13

-10734

105
111
-104% 105

8234- 87%

—

534-

....

85

-102
-105
-110

83

_

-

—

....

2d mort
1st Carond’t B’ch..

•

-109

—

-

—

__

16134-10334

•

79

84 - 86%
64 - 61
64-64
11 - 13%

—

loivr-101% 102

-105” 10634-1U7

105

-103

102
102
-102
-111
109
-IO034 103
-102

-

—

11014-112

-

....

-

....

•

-10434 101 -101*
-112
10834-1(|8%
109%—110 110 -11134
105 -106%
10434-10434
105%—106
10534-10634
105 -1C53^ 10634-107

84

-

....

-

—

104

8334- 84

....

105

111

....

25

102 -102% 10234-104% 104%-1 5%
-106% 105%-106
102 -103% 103%-104>4 100%-101 • 101 %-10233
10234-10334 10234-103
103 -100% 10 •! 34-104
104 -105
10034-100% 10034-1001% 10034-103
103 -109% 10s%-109
1(18 -109%
109 -110
108 -109
108%-109
90
91 %- 92
90
93%
9034- 9J3s 90%- 91% 92
105

^

....

-

...

Pac.RR of Mo.,lstm.

•

*

.

..

23

-

.

.

.

107%-103%

15

•

8-9%

-

-

1C9
107
30

—

...

-

-

....

-

104%-1(!634

15

...

110%—11434 113 -113* 114 -114
104%-10534 104%-10534 105%-li 5% 102%-103%

-108
10434-10534 106 -107
104 -105
104 -105
104 -105% 104 -106
-107
86 - 8834 86
85 - 86
92
87
88 - 91% 91
105 -105
105 -107
10634-107 107 -10734 10834-109
107 -10734 10734-108
U‘4 -104% 105 -106% 104 -108
106 34-10734 106 -10834 106 -10634 106%-10.h34 109 -109%
106%-10734 11)534-108 104%-104% 104%-107% 106 -108
95 - 95
100 -101
92
95
95 - 97
92 - 92%

-104
- 86

-

-110
-107
- 36

32

...

99
90

<3*3

Springf’d div...

»

_.

_

10234-103% 10234-103% 10334-104
109 -109% 109%-110
109 -11134
106 -108
108 -109
10734-108
1:5 -106% 1(534-10734 10?%-10734
i03 -104
104 -10434 10434-105%
107 -10&34 10734-101% 108 -108%
10634-107% 10734-107% 10734-108
103
84

39

..

99
89
91
91

-

-

_

-

10

37%
ie»4- 10%
•-

,

Construction
9534- 95% 80
7s of 1871
102 -102
101
1st Con., gold
9834-100% 92
Nash.Ch.& St.L.lst 7s 7934- 79% 80
Nash.
Dec. 1st m 7s
N. Jersey So.,1st m.7s. 24 - 24
N. Y. Central 6s, 1=83 10334-1041% 104
10 i -104* 104
6s, 1687
Kil %-101%
6s, real estate
6s, subscription
101 -101%

1st

....

—

109

-

„

,

...

*"

•••

...

•

m

-

....

-

....

-

_

10834-109%

N. Y. Elev ited. 1st

-1U6

103

-107

....

—

—

—

102

-104
-111

Long I. RK., lstm... I11O34-IOOK
Lou.&Nash.con.7s,’98 90%- 91% 9034 - 91% 9234- 91% 87%- 9034 90*

8s, 1882, s. f.

90
-105
-108
-108
-

106
103

—

-10734 103 -104%
2134- 2,%
2134- «8

...

-

-

-

65
59

76J4- 76%

Mo.K.& Tex. 7s, ass’d 55
2d mort. inc
Morris & Essex 1st mi 115

-106,% 106%-!08

-103%

...

...

%

11234-114

-

_

Marietta &Cin. lstm.
Mem&l har.RR.,l8t m
Mich. Cen con.7s.1902

-107

103
107

-102% 102%-!02% 102%-103%
90
93% 98%- 98% 98
99%
98% 9.8
90
91,%- 99
98%
93%- 9934 93 -100/S 9934-101
92
95
92
100 -1(0%
'38
88
96%
95%- 98 \ 99 -10034
99%- 96%
6834- 90
9034- 91
8834- 90
106 -107
104 -105%
107 -108
107 -10834 107 -107
10434-104% 104 -105
101
10334-10334 101K-10134 10034-101% 10J -10134 100 -101
-101% 110 -102

5

Km. P., lst,6s,F.&A.
1st 6s, Juue & Dec.

gold

90
105
102

-110% 10834-109% 108 %-l0834 103

108
107

-

88
88

-103
-114

-

....

With certificate

1st RR. .ii land g’t.
No. 16 incomes.
Lake Shore.
Mich S. 7 p. c. 2dm.
Mich.S.& N.I s.f.7s
Clev. & Tol. s. fund
Clev. & Tol. new b.
Clev. P. & A. old b.
New bonds.
Buffalo & Erie n. b.
Buffalo & S. L. 7s..
Kal.& W. P. 1st....
D.M. &T. 1st 7s,1906
Lake Shorediv. b..
Con. coup. 1st...
Con. reg. 1st
Con. coup. 2d
Con. reg. 2d

-106

105

....

4

.

Houst.&Gt.N. 1st 7s.

With certificate.

-10934

-108

..

....

97%

-

International 1st m.7s

-109% 109

-107% 103

106

-106

104 -106
105 -105
lt'5 -105
107 -107% 107 -108% 108 -109%
74 - 79
79 - 81% 82 - 86
75 - 75
8534- 88% 88 - 8934
—
62
62 - 62
73 - 73
70 - 76
6?%- 67% 67 %- 70
108%-109% 106 -10634 10634-107% 107%-!08
!08%-108%
110%-111% 10834-109
104 -104
105%-1C;6% 106%-107%
102%-105% 105 -105% 103 -103
103%”10334 103%-104 103%-104% 104%-105% 105 -10634 107 -108% 1O0%-1O8%
104 -101
10534-106 :-8 107 -108
103%-108%
70 - 70%
71
- 7!
106 -108% 10834-108%
107 -110
10934-109% 107 -109% 109 -109% ioo -no

-

-

J>rl mfW't.(T8w>

-104%

108

106

106%-107% 10734-10734

105

-104
-103% 10334-104
-108% 106 -107% 10734-107% P'7

-

106%-107%
-10834 104 -106
10234-106% 10334-103%

-103
-105

2934

-

96%- 9734
94%- 9534 9634- 97%
98
95%- 9634 97

99
92

-

—

_

96

-

111
109%-no
104 -i04% 101

.

Ind.Bl & West., lstm.

104
10»

....

.

16534-16734

-108% 103 -104 10334-105
104 -106% 101 -102% 10334-11(5
10(
-105
101 -102% 103%-105
101 -10234 102%-103
100 -1003* 101 -101 % 10134-102% 103 -103%
Long Dock bonds.. 10434-101% 10534-106% 105%-108% 107 -103% 109 -109%
35. T.Va.&Ga.lst m 7s
91
91
92
92
91% 91
G. H.& H. 7s, gold,71 77-77
77
7?
77
77
79
79
Han.&St. o. 8s,conv. 84%- 65% 85>4- 85% 7534- 89
70
75% 75‘
83%

m

-

-

...

_

92
91
92
86

9334-100

...

Del. Lack. & W. 2d

10734-103%

,

-166

95

1st

1st

....

r

_

Del.&Hucf.C.lst m.’77 ioi 14-162

—

-109

116* -110% no’

9%

_

-

__.

Col.Springf&C.lst

-

io7

108%-lio

-lu9%
-1(

—

105 -106% 106
-10434 105 -105
30
32)4 26
39%- 40
30%- 36
6-10
634- 634
6%- 6%

m.

-106
-107
-106
-103

ar

-

103

sinking fund..

,

-

_

C. &S.lst g.L.S.&M.S
Clev.C.C.&I.lst 7s,s.f 108
Consol.mort. bonds. 98
Clev. & Pitt. con. s.f. 1» 9

2d mort

....

....

...

-109

...

—

-103

..

-

....

.

107 -107% 109
-102
102 %-l 0234 103
-106% 10634-10834 108
70 - 70
60
...

.

106
106
105
100
103

-

-

..

.

-107%

_

_

-111
-107

-

-

106
102
106

10634-107%

109
100

-111
-106

-111% 109
-103% 103

102
104
100

-

.

98%-102

—

-100

_

—

.•

-105%

100
-10634 105

-

70 - 70
10? 34-’08%

-101

.T

•

-107

105 -106* 105%-107
10534-106%
102 -102
-100% 10034-103% 103%-104
-10434 1( 5 -107
-106% 10534-108% 10634-106% 10634-107%
8334- 88% 8834- 91% 84 %- 86% 8634- 87% 87%- 91% 90%- 91%
90
83
90
83 - 87
88% 85
8534- 8534 8834- 91
90%

-100

8734- 90%
8734- 89

89%- 92
•

108%-109%

6s, 1917, coup
6s, 1917, regT...

2d mort

91
90

-109J4

Sink.fund inc.6s,’95 101

4th

-103% 108

103
-110
10634-107% 10734-108
104 -105
105
10434*-104% 104 -104
104 "-104% 102% -103% 104 -104% 105

108

86-88
86 - 89

90
89

25

25

-

25

-

91
90 4
25

90 - 91
89 - 90
28-30

83
69
28

-

90“

-

89

-

28

00

RAILROAD

BONDS.

Prices of Railroad Bonds for
January. February

March.

BONDS.

April,

May.

1§77—(Concluded).

June.

July.

August.

Septemb’b October. November December

Low. High. Low. High. Low. High. Low.
High. Low. High. Low. High. Low. High. Low. High. Low. High.
Tol. P & W.. 2d mort
Consol’d 7s

Tol.&Wab.,lstm.

33

-

32%-

ex. 102

Ex coupon
1st m. St.Lou.div...
Ex matured coup...
2d mortgage
Ex & Noy..’77, cou

■

-

33
33

30

-

30

30

-

104% 103%-! 03%

100
6<% 87
8'% 74

89

-

wk-

82% 83

-

72

?4%

70

-

75

16

-

30

20

-103% 100% -I03
83
68% 88
-m
-3% 75

102

-

Equip, bonds

-

•

-

-

71

-

104%
83%- 91%
74%

65

-

71%

67

-

57

65

-

67%

60*

-104
-

90%

-

72

103
91
73

-107
94

-

-

75%

106
91

-

-

20

25

-

20

20
112

111

93%

75%- 83

93*

94%
80 %- 81%
66
7,:%
75%- 75%
-

-

-

02%

ei*

-

64

62% - 76%

27
25
-112
-

Low. High. Low. High.
27

-

26
115
93% 91% 94
84
82%- 85
75
72%- 73
77 - 77% 78
64 - 65
70
12
12
-

-

S’cy&Tol.lst m.’9).
is.&So.Iowa.lstm

45

-

-

102k

-104

70

65

62

.

48 V- 51%

v'

7i”
70

-

Ex c( upon
Han.& C.Mo. 1st m. i 83 - 80
Union Pac. 1st m. b. 103%- -103%
Land Grant 7s..
101 - •;0i%
-

47%- 47

33-33

-

-

-

•

35-35

33

-

35

£0%
63
75
82

-104% 100
■102% 100
90
88%- 88% t6
74% 65
•70%

-101
87

-

-

-

83

-

-

60

-

»J
75
82
-104

60

100
88
65

31

‘32*

-

33%

35

-

-105*’

10»

91

88

-

90%

67%

5)

-

61

107

■

93
65

90

-

90%
60

-

64-70

55*

-104

-

101

■

70*'

51

44

-

45

80

-

80

-

75

-

■

75

-

■

-

-

•

-

*75*

-

75* *

85

85
10>%- -106
-

-110

92%
62%- 73%
-

-

67
90
75

-

-

..

-

-

-104%
-

103%
103%- 1043* 103% -104
104% -107%
101% -102% 102%- ■1C3V 99% -100% 100% -102
Sinking fund
91^- 97% 96% 97% 92%- 93% 92% 92% 93% 96
W. Un. Tel. b.,19C0,c. 1<>3%- •105% 104
-105% 102 •105
03
-105
100%- -101%
103
Registered
105% 104% -105
104%- 104i/s 101% -104
101% -101*4
■

20

-

■

-

-

-

-

67'* 70*
90

80

-

105* -105%
101%-103
102%- -103% 102%- -103;$
95%- 97% 96>4 97% 97% 98
100%-101% 101% -101% 102% -104%
101 -101* 102
-102
102%- -10414
107%-108%

-

•

-

91
70

90
75
85
104

-92%

.-

-

-

-

73

-

-

72*

90
•
75
■
85
• -105
-

-

88
78
85
74

50%- 54%I 51%
•

....!

-

-

27

27

-119
-101
-■
90
75% 78
80 ■ 86%
63
70
10
13
52
52
-

-

-

-

-

-

34

-

•

-

46

109%- 109% 107 -115
91
92
91%- 98
73
75% 74%- 80
62
69
63%- 65
71
72
73, - 73
-

-

-

-

•

•

27

27
117
100
85

•

-

•

100
9 )
70

i8

27

-115
-101

-

-

Cons conv’ble
Ex Aug.,’78 & prey.
Gt.West. 1st m., ’88
Ex coupon
2d mortgage, 1893
Ex m.&Nov.’77.c.




100
89
70

-

20

16

-

Low.High.

115
98

-117
-

■

76
65

-

•

-

•

*

98%
73

67

-

95
75

95
75

-

-

-

104%- -105% 10H
103% -105% 102%- -103
1<3%
91% 94% 94%- 94% 94%
105
-105 >5 106
-106% 103%
104% -105% 106*4- -107 .103 >4
-

-

■

ioo* -166"
■

75
75

-

■

•

-

75*’
76

-107%

80 ■ 80
85 ■ 85
1< 6%- -107%
-

-

-1<3% 102%- -103%

94
94%
105%- -106
-104% 104%- -104%
-

95%

106

-

-

RAILROAD AND MISCELLANEOUS STOCKS.

67

RAILROAD AND MISCELLANEOUS STOCKS.
A gr atly increased activity in speculative stock operations was one of the natural results of the paper money era which,
commenced in 1862.
In 1860 the number of members of the New "tfork Stock Exchange was about 210, and in 1877 it was near
1,050, and the number of brokers not members of the Exchange is proportionately much larger now than formerly. In 1860, stock
"dividends had hardly been heard of, and many of the best Railroads in the country were barely able to earn 6 per cent a year.
In
the whole list for 1860,

1860—-2In.

given below, there are only six railroad stocks that sold up to 00. Then Came the war and the issue of
greenbacks, which stimulated business of all kinds, and that, with the rapid settlement of the Western States—under land-grants
Und the homestead laws—began to increase immensely the East and West railroad traffic.
The history of the progress of many of
the leading railroads and the distribution of large stock dividends has since become familiar to all.
The next step was the great
increase in railroad building, culminating in the crisis of 1873, and followed by a severe depression in railroad traffic. The highest
point in railroad stocks was reached in the years 1869-70-71, and since then the main question has been as to the ability of
companies to keep up their annual cash dividends, or even to meet their annual interest and rental charges and keep themselves
out of the hands of receivers.
A serious blow to a particular class of railroads whose stocks had ranked among the best of invest¬
ments—the coal-carrying roads—came with the large decline in anthracite coal.
The general depreciation in values and
unprofitable results from nearly all kinds of business led inevitably to this reduction in the price of coal, and as the coal-carrying
and mining companies had been constantly increasing their
capacity for production by an enormous outlay of capital, the
diminished profits from their business rendered the annual charges for interest and rentals so
heavy a burden, that in some cases it
became insupportable, and the companies went to default.
Investors, in taking a review of the course of prices of railroad stocks for the past fifteen years and the wide variations in the
percentage of annual dividends they have yielded, are naturally inclined to look for the causes which have produced the results
which they observe.
The experience of the past—too often, indeed, a bitter experience—is thrown away unless it furnishes some
information for guidance in the future.
What, then, have been the most fruitful sources of financial embarrassment with our
railroads, and how may the holder of railroad stocks protect himself? In reply to the first part of this question, it may be said
that the most common of all difficulties with railroad
companies has been their reckless increase of debt, in one form or another,
which they have been unable to carry as soon as their earnings were temporarily affected
by decrease of business or rates. Second
to the increase of direct debt, has been the
tendency to lease branch or connecting roads, with a guarantee of interest or dividends
■far beyond the capacity of the road to earn.
Under the system of foreclosure and extinction of stocks which is in practice in the
United States, it is evident that stockholders can never be absolutely safe so
long as their companies have a large debt outstanding.
They should have, in order to protect themselves, a larger voice in the creation of all sorts of debt obligations or annual charges
for rentals or otherwise; and possibly it would be well to
adopt something from the English custom of making debts a charge on
the income of a railroad, and not permit foreclosure, which
wipes out the stock.
1*60 several of the now leading stocks were selling at very low
figures. New York & Harlem in March sold as low as
8; Michigan Southern at 5, and New York & Erie at 8. Delaware, Lackawanna & Western In January sold at 54. Canton in
December got down to 14, Cleveland & Pittsburgh in March down to 5.
1861 the market was generally better, but in 1862 the improvement was more marked.
Pennsylvania Coal and
Delaware & Hudson Canal reached 119 in December; Erie, 77J; Harlem, 23£; Delaware Lackawanna &
Western, 130.
Prices from 1860 to

January. February

STOCKS.

April.

Mat.

June.

July.

August.

81

16#- 17#
84# 80#- 85
94# 93
94
16# 15#- 16#
78# 77#- 94*
75# 70#- 72#
9
8#- 9#
42# 37
41#
9#
8#- 9#
42# 38#- 41
38
36#- 38#

-

89#13#-

Pacific Mail SS. Co

74

-

-

71#«#41

Harlem RR.....

-

-

8#-

36#Reading
35
Michigan Centn
Michigan Southern.. 6

-

125

5

6#

-

7#

-

131# 130#-134#
57
55#- 58# 56
-

-

6#-

88#-

Clave. & Toledo

Chicago & Ro k Is.,
Chic., Burl. & Quincj

7
95

19
61

Cleve., Col. & Cin...

SO#
63#

-

40
•

.

.

98
54

86

40

•

7#-

•

•

•

•

•

- 100
54

7#

88
18#- 20
-

62#- 63#
43
114
99
57

-

-

43
128

105#
80

19
83

W# 20#- -22# 20 ■21# 19#- 20#
85
83#- 84# 85# 88# 85#- 86
93#- 98# 97
98# 98# 101# 96#- 98
13#- 16# 13#- 15
14# 11# 12#- 13#
101
89
92#- •105
■107# 85# ■107
93#
70#- *79# 76#- 80# 78# a3
81#- 82#
16
18
17
8#- 10# 10#23#
21#
383*'- 40# 38#- 42# 41
49# 46#- 49
8
10# 10#- 14# 12
13# 11#- 12#
42
40#- 43
42#
41#- 44
41# 44
36%- •45# 44
-49# 47# 54
46#- 53#
7#- 12
9#- 14
1># 13
10#- 14
131
132#- 136 133 •145
146# 125 -134#
58
63
64
59#- 62# 59
64# 61
5
6
7
8 - 10#
5#- 7#
12#
87
89# 88#- 93
91# 92# 91#- 94
19
25# 23#- 30# 27# 31# 29
32#
62#- 66# 67#- 68# 64# 71# 67#- 70#
45
60
59#- 65
63# 79# 68#- 77
120
124
124
125
126 -126
133 -133#
103#- •105 105 -112 112 •115 116 -120
•

-

•

-

-

■

■

•

-

-

•

-

-

-

■

-

-

•

-

•

-

•

-

-

•

•

-

-

-

•

-

-

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-

•

■

-

•

-

■

-

■

-

-

•

-

-

•

•

•

-

-

-

-

-

20#

20
20#
-•6#- 86#
92#- 96#
14#- 17#
83
92# 77#- 85
8!#- 81# 83#- 88#
31
18#- 24# 23
56#- 60
47#- 58
20
12#- 17# 16
40#--49
44#- 49#
47#- CO# 59#- *73#
13#- 19
17#- 25
123#--127# 122#- •126#
62#- 77
74#- 89
8#- 11
10#- 12
91
94# 91#- 95
30#- 38# 38#- 49
70#- 77# 79
8-4#
73
84
84#- 91
-

•

89

84

•

-

94

85

•

89

90

-

99

•

-

87
97
15

■

-

■

-

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iie**- -iio*
95

■

9
78
80

-

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•

•

-

-

76

19

85#96#12#-

96

131
113
94

-133
- -113

-

-

■

1861.
Canton Company.
Penn. Coal Co

14#- 15
77
85

-

-

80
92

8#- 9#
84#- 94
75#- 82#
34#- 40#
44
49#
15
16#
Reading
37#- 46
Michigan Central.
51#- 61#
14#- 16#
Panama.
112
m#
74#- 88#
Cleve. & Pittsburg..
9
10#
Pacific Mail SS.
N Y. Cent. RR. Co.
N. Y. & Erie
Hudeon River RR
Harlem RR

-

-

-

Cleve., Col. & Cin...

Cleveland & Toledo.

92

100

-

32#- 37#

14
76
87
7

-

-

15
80
92

8#

..

Reading
Michigan Central...
Michigan Southern..
Panama
Illinois C. scrip st’k.
Cleve. «fe Pittsburgh.
,.

Cleve., Col. & Cin...

Cleve. & Toledo.

-

7#

•

-

•

-

•

-

•

-

14#
81
90

7#
85#

8#
75
80
4

-

-

•

-

-

-

•

•

-

■

-

■

-

•

-

-

116

69#- 81#
8
9#
-

94

-

94#

27#- 38

-

-

■

-

-

-

-

-

49#- 60#
12#- 15#
-

-

133
115

-

12#

-

82

77

84

5#
71

8#-

9
77#
83#
4#- 4#

76
79

-

-

59

-

69

-

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-

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4#69

-

-

-

73# 71#23# 21 37# 31#
12#
8#32# 30#46
39#-

9
79
86

5#
77

-

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83

■

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79#
85#

-

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-

-

-

-

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•

•

-

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•

-

-

-

-

-

-

-

-

-

-

-

-

-

56

-

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16#45

-

-

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66
24
49

-

-

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83
- -96
-

-

10#- 13#
82#- 95#
-

-

80

-

-

91
43

27#54#- 64#
15
23#
-

-

14#75
83
8
70
70
26
40
13

•

-

-

-

-

•

-

-

-

-

-

-

-

-

-

18
81
94

14

-

-

73#-

-

15
76
84
9

H#

80
8

94
84

74#- 85#
69
76#

34#

24
36
12

-

-

-

-

-

-

60
18

-

-

-

-

39
45

14#
31#- -42# 29#- 36#
45 - 64
41
59#- 70#
50#
15#- 23# 12#- 18
10#- 15
120#- -125# 106 -123 107 -121
70#- 86# 51#- -74# 51#- 75
9
13
9 •
11#--- 15#
8#-

41

-

-

-

-

-

-

-

48

-

67#- 72#
19#- 24#
123#- -127
.83#- 89#
10#- 15#
93
95
96
88
87
-99# 95#- 98
48
43#- 49# 31
24#- 35# 20 - 31
66
77#- 82# 60 - 77# 50
42#- 54
87
60
70
92# 79 - 90
61#- 85
-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-134
- -117

-

-

-

-

-

-

-

-

-

-

-

10
76

-

-

-

133
116

-

-

-

-

-

-

-

10
76
86
5

-

-

-

-

-

-

-

-

-

-

82#4#70**- ’78# 75#- 89#
72#- 77
72#- 74#
24#- ■26# 24#- 26#
32#- 34# 32#- 34
10#- 11
10#- 10#
35
37# 34#- 36#
40#- 43
41#- 43#
13
12#- 14
14#
106
-115
104#- 108
63#- 65
64#- 68#
7
10
6#- 7
94
95
95
96#
28*- 30# 29
30#
37#- 41# 41#- 46
57#- 60# 59#- 63#
-

■

81
94

14#
77#- 86#
83
-92#
26#- 43
-

-

•

-

■

■

-

-

-

•

-

-

-

83
96

■

-

-

-

13

-

-

-

9#- 10
75

•

82
90

95# 92#- 93#

74# 73#- 79#
23# 22#- 29
38
34# 32
10#
9#- -12#
33# 33
39#
54
60
40
58
40
44# 41
47#
14#- 18# 12#- 17# 10#- 13# 10#- 12# 12
15#
115
102 -109
-117# 97#- •116# 99 ■107
105
-111#
&3
75#69
62
55#- 81# 57
70# 62
69#
9
8
9
7
7
7-7
9#
7
9
95
91
93#--100# 90
94
98
93# 93#- 97
33
3?
22#- 36# 20#- 25# 20#- 24# 23#- as
56
61
34
58
45
30#- 39
32#- 36# 34
51
69#- 75
62
53
74# 54
55# 54
63#
133
-133
118
120
114 -115
112#- 113
115
-116
110
115
105
110
-112
106# 108 -112
11
12
9
9
14
14
11#
15
9# 14
14#- 15
80 - 84
80
81
75
75
70
72#
-

-

112

9#

-

■

18#- 23# 17#--22#

■

ii5**--ii5
90

-

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9#

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76

125
100
75

-130
- -114
90

122
105
70

-

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10
10#
77#- 80

84 - 86
83#- 85
5
4#- 5#
5#
88#- 96# 85#- -100
73#--79# 77
81#
25#- 34# 29#- ■35#
33#- 38# 86
41#
12
14
10#- 14
34
34#- 37
36#
41
52
48
54#
13#- 19# 17#- 20#
-

-

-

-

■

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-

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80

9#- 10#
■ -78#

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-

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-110

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81

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84

4#
95#
80*
33
39
13

30#- ■34#
41
50#
-

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16 - 19#
115 --119
112 - 121
105 - 115
65 - 69# 60#- •65# 56 - 63
12 - 17
10#- 12# 11#- 14
97 - 99
100 - 102
96#- 99
29#- 3«# 33 - 38# 28 - 36#
51 - 58# 44#- 54#
45#- 53
51 - 60
61#- 66% 58#- 66
112 - 112
114 - 114
114 --115
113 - 113
110 - 112
113 - ■113
113 -114
14#- 19# 16#- 19
19 - 23
16#- 20
68 - 68
70 - 72
65 - 65
•

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1862.
10
80

-

11# 10#- 12

14

-

-

86

82

-

85

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81#- 92#
5
5#- 5#
92
99# 91
79#- 83# 79#31#- 3b# 33 52#- 58# 54#37#- 40
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92

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12#- 13#
35
47
19
110
61

-

42#

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55#

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22

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113#
64

1‘#- 16#
110

89
97
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69

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87#- 91
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8
97#- -111
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93

-100

8#

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15
90
92

-

15
98

95

-

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-

97
97

95

16#

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91#7#- 7#
115 -118
104#- -116# 107#- 112#
S8#- 95# 87#- 93# 89#- 94#
35#- 39# as - 37
33#- 39#
64
63#- 67# 60
62#- 69#
44
49# 43 - 47# 44#- 54#
14
18# 13
17# 14#- 17
50
60
54#- 59# 56
62#
62 #- 68# 57 - -63# 59#- 69#
25#- 28# 23#- : 27# 24#- 32#
132 -139# 128
137
133#- -140#
60#- 66# 55#- 61# 57
63#
21
21#- 24
23# 21#- 25#

8#-

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20

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135

-

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133

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130

27#

25#- 28# 26#- 30
27#- 37
77
77#- 80
90
79# 79#- 85
97#
59
54#- 58# 56-58
75
64# 64
83-84
80 - 84
93
100 -102
85#-

-

-

-

-

130
30#- 34
88#- 90
66 - 70#
93 - 95#

31#- 34# 32#

90-90
70 - 73
94 -100

18 - 18#
109#--116
112# -118
-

-118

94
73
99

•

-

•

112

-119

■

13# 12
14#
117# -133
117#--124# 119 -137
102# *107# 101 -105# 101# -1(M#
49
65# 59
64# 60
63#
80
93
87
92
90#- 97
61
79
72
79
72#- 77#
23
21
20# 25# 18
23#
69
79
73#-■78# 74#- 77#
81# 92# 85#- 91# 88#- 93
37#- 47
37#- 43# 36#- -41#
-

■

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IS

-

106
108
99# 99
110
110
108 -110
97#- -100# 100
7
.8
8# 15# 9# 17
-

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98
109
99# 93
-119
1^9# 121#
84# 82#- 84# 82#- 85# 84# 89#
93
104
35# 34#- 38
30#- 37# 35# 40#
36# -49#
59# 58#--62# 60#- 62# 62# 67#
67# 83
39# 35#- 37# 35#- 36# 30
45
50
-62#
12
11#- 12# 12#- 13#
13
13
15
15
22
40
44# 41
■41# 42
45# 45# 49#
56# 70
48# 51# 53#- 58# 53#- -56# 56# 63#
66# -81#
22
20# 21# 22#- 25
-23# 23
26#
31
39#
111 #-121* 117
122
119#- •126# 126#- 133
139# 150
55#- 65# 61#- 66# 57 - 63
60
64
61# 77
16
18# 17#- 20# 17
18# 18#- 23#
24
36#
103 -1!0
112
115
109#- 113
119 -129
113
112# 116#
115
118
125
121
■125
4C#- 46
46
44#- •47# 40#41#- 47# 44#- 49# 45
49# 46#- 5-1# 52#- 69#
55
52#- 57
66
59# 52#- 56# 56
62#- 69# 60#- 68# 62#- 69# 66#- 78#
61
65
65
61
62
61#75
8»
64#- 73
74#- 78# 78
87
85#- 96#
124 -125
128 - 130
135
-

-




-

-

-

-

...

2dmvf.
Del., Lack. A Wert..

7
82

-

33#- 42#
Chicago & Ro k Is.. f,0
55#
Chic.,Burl. & Quincy 57
62#
New Jersey
New Jersey Central*. 114 -119
120 -122
Mil & Pr. da Chien. 18#- 21# 19#- 21
do
1st pref. 74 - 84
73#- 77
do

-

8
72
82
6
50
68
17
S3

60#78# 71#
30
36
30
35
32# 19#47
40#- 48# 43
45# 34
14
17
15#- 16# 11#- 16# 10#46
38#- 47# 39
29#- 44# 30#-

130
132
New Jersey Central. 107#- 110
110
Mil. & Pr. du Chien. 10 - 14# 10
80
Del., Lack. & West. 80 - 82

Canton Company.
Peon. Coal Co...
Delaware & Hud. Co.
Cumberl’d Coal prcf.
Pacific Mail SS. Co..
N. Y. Cent. RR. Co.
Erie RR
do
preferred
Hudson River RR...
Harlem RR.

-

-

-

-

-

126

14#- 15
80#
89#- 90
76

80#88#
75#- 80# 75#- 80
88

Chicago & Rock Is.. 52#- 62
52#- 61#
Chic., Burl.& Quincy 65#- 78# 65
76

New Jersey,

Septehb’r October. November December

1860.

Penn. Coal Co

New Jersey

March.

Low.High. Low.High Low.High. Low.High. Low.High. Low.High. Low.High. Low.High. Low.High. Low.High. Low.High. Low.High.
416#- 16#

Panama

1877, Compiled from Sales, at tlie New York stock Exchange.

-

-

-

-

-

-

-

-

•

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

•

-

■

-

144

-154

■

76#- 84#
34# 43
-

-

132

-135
67#- 73
-

-

158

158#
74

■

•

40

135#-

138

141

-

66

-

65#- 70#
83
150
31
77

-

116

-130#
-

-170
-

42

•

■

-

36#-

77#- 85# 77#- 83#

100 - ■119
135
139 - 140
150 - 150
38# 33 - 38
96
99 - 100
79
77#- 78
103# 109#- 114

159

81# 76#- 81

34
80

115#- 117

-

-

59

-145

72#
77#- 82#
86#- 88
■

■

-

145
155
31
103
79

-

186^

-

145
156
34
- 103
-

-

84#

130

68

RAILROAD AND MISCELLANEOUS STOCKS.

1803—1864—1865.

A1803 —'This injunctionHarlem Company
year the
An

was authorized to lay tracks on Broadway for horse cars, and the stock reached 170
prevented the operation. Erie paid its first dividend of 3^ per cent
rri
II,,r]era “ cornfr” of large short
The Harlem corner was the result culminated in July at 285 ; that figure, in the same month, being the culminating price of gold
sales, while nearly the whole of the actual stock had been previousiv purchased
by Commodore Vanderbilt. Pittsburgh Fort Wayne &
Chicago was’in
paid two
of
cent
each, and Delaware Lackawanna & Western 10 per cent in stock and 15 April run up to 152f. Erie V
in cash.
8 * Per cent
•

,-n

Ausust.
„

1 **

T?°4;~~Tlie

dh-wlnds Tper

.

71805 rLefS ™T\endeT look

Plac® APril 9* Erie, in March 44*@?3f and December 911(397. Erie dividends two of 34 ner cent
Harlem almost entirely neglected.
Delaware Lackawanna & Western in January, 222(5225 in December
Ohio &
Bold low.
m
1
v~u‘
TlItnAte. nanu.,1
j
’
^ 175
Mississippi
it

-i

January. February

STOCKS.

|Low.High.

April.

May.

^

—

June.

July.

August.

Septemb’r OCTOBBK. Novbmbxk Dicembbh

Low.IIigh Low.IIigh. Low.IIigh. Low.IIigh. Low.IIigh. Low.High.
Low.High. Low.High. Low.IIigh. Low.High. Low.High,

Canton Company.... n%- 323*
Penn. Coal Co
12b
-132
Delaware & Hud. Co H8%- -132
CumbeiTd Coal prof. 14#- liO/t
24
20
Quicksilver Co...,
Pacific Mail SS. Co
136%- -178
N. Y. Cent. RR. Co.. 107
-124%
ErieRR...:
66 - 85>*
do
97 - -108
preferred.
Hudson River RR... 82 - 98
Harlem RR
27%- 49
Reading RR
77%- 96
-

March.

-

1863.

25
126
128
19
17

273* 22%

-

-

26

23

31%

29

40-

25 - 37
2G%- 33% 39% 34
30
33
136 -139
135
-136
135 -147
142
147%
-131
135 - -159
124%
140 -144
143 - 150
155 -102% 155
161%
20
17
22
35
17 - 30
18%- 31
26% 30% 27% 33 ‘
20
80
45
383*
51% 40 - 463* 38 - 50
41
73
703* 61
■195
1533* 171
1863* -196
172
180%- -193
188
231
179%- -246 228% -239% 208
H63* 120
-117
118% 113
1163*- -133
116 - 129
1153*-125
140
122% -139% 128
70
803* 74%- 8b% ) 76 ■ 81% 84%- -105
903*- 98
122 ' 101
92%- 103% 103
-118%
99
1063* 933* 101% I 96 ■ •102% 101%- -111 1003* 106% 100% ■105% 102%
HD* 102 -K8%
95 - 101% 1023*- -117
91)*- 99
116 - 142% 118 -143% 145
180
141% 153
128% -150
32
37% 35 - 47
79 - •116% 97% 1093* 92
42**- -76%
125
125 ■ 179
1<5 -161%
893*- 92
88 - 95
86%- 91
94
-120
89 -114% 95
111 V 113% -124
112 -122
91
99
943*- 98% 97 - 104% 99%- -105
105 - 124% 106 -119% 107
-116% 1113 - 128
116 -123%
453a • 65% 55 - 63% 53.%- 61% 55%- 673* 67%- 88
68 %- 81
88
113
73% 89
77 ■ -108%
171
•187
18'
- 192
183 - 193
183%- -187% 186 - -189
188 -190
188
-190
189
-195
18 .8 ■ -180 ‘
813*- 973* 893*- 94
85 - 92% 8;%- 95
98 -111V* 102
923*- 115
-116
114
■138
120% -133%
88 - 13
91 - 91
833*- 91
89 - 90
94 - -107
92 - 95
96
-106
106
-126
111
-123
73
65 - 73% 64
563*73
82 - 108
67%- 84
80 - 97% 823* 97% 93% -105
91
-1023*
147
•175
155 - 161
158 - J67
160 - •165
158%- 160
159 -161
-160
155
155
255
150 -155
77%- 97
863*- 963* 933*- 98% 92%- -106% 108
117
105 -116% 107
-117
113
-123
112 -121
89 - 95
82)*- 96% 8'3»- 95
94 - 108
833*- 95
93
-106
93%-104
103 -113
103% -117
99 - 1113* 105 - 110
106 - 110
li>7%- 1123* 108 - 120
113 -116
114
-116% 115 ■126)* 120 - -123
59 - 65
62 - 64
60 - 69% 70
57%- 66
85
63 - 79
65
84
79 ■ 86
68 ■ 82
85
87
80 - 86
833*- 85
81
91
92
99
88 - 95
90 - 98
82 ■ 91%
92% 97
30 - 42
37
29 - 35
313*31
43% 42%- 59
41%- 53% 41
68% 55 ■ 673* 55 - 64%
50
65 - 693* 57%- 71% 72 - 90
713* 633*- 72
663*- 84
75 • 86
69% 85
82% 88
39 )*- 69
50 - 51
50 - 51
51
61
73 - 86
72 - 833* 75 • 86
77 ■ 86
71 - 75
8b - 88
91 - 92
63 - 68
68
75
78 - 95
70
82
85 - 88
8-4 ■ 87
79 - 80%
603*- 76
613*- 68% 56
67
57 - 69
85
61 - 78% 64 - 78% 71 - 96
67%71 - 92%
16 - 23
16 - 21
16 - 18% 16 - :6
25
43
32 - 38% 32 - 37%
28%- 33 % 273*- 38
35 - 48
35 - 41
35%- 40
43
34%- 44
60% 42
563* 60%- 69% 67 - 90)* 65 - 79%
109 - 109
108
170
107 - 107
110%- 110%
106 - ■112
102 - 112
109 - -110
76
“8
77
853*- 9b
8
73 - 80
75 - 82
813*- 90
78 - 86
85 - 89% 85 - 83
139 - 136
i40
140
146 - 149
142
ICO
154
161
105 - ■166
170 - 180
180 - -181
35 - 73
43 - 68% 48 - 75
68 - 70% 62 - 69
-

-

-

-1323*
-132%
*03*
-

-

110
120
16
14
165
107

-

-1223* 114

-126
-134
27
51

-

■

-

-

•

-

12)3*- -141

-

-

-

-

-

-

-

-

-

-

-

-

■

-

..

•

-

-

-

-

-

Michigan Central

-

-

-

■

...

Mich. So. &N.I.RR.
Pa- ama
Illinois Central scrip
do
full Vtnck
Cleve. <fc Pittsburg..
...

Cleve., Col. & Cm...
Cleve. & Toledo

■

•

-

-

•

■

-

-

-

-

-

Chicago & Rock Is..
Chic.,Burl. <fc Quincy
Chicago & Alton....
do

pref.

Terre Haute & Alton
do

do

pref

Toledo & Wabash
do
do prel
Pitts., Ft W. & Chic.
..

Chic. & Northwest..1
Mil. & Pr. du Chien.
do
1st pref.
do
2d pref.
Del.. Lack & West..
American Coal Co...

-

-

■

-

-

-

-

■

-

-

-

•

-

-

-

•

-

•

-

-

-

-

-

-

-

-

-

-

•

-

-

■

-

-

■

-

-

-

-

-

-

-

■

-

-

-

•

Mariposa Mining Co.

-

•

-

-

■

•

•

-

.

-

do
pref.
Chic. & Northwest...
do
do pref.
Mil. & Pr du Chien..

28
214
132
107
101
139
102

■

.

•

-

69

38

-

230

-

133

•1243*

-

-109
■162

-238
- 219
73%- 98
92 - •120
66 - 95
57%- 91
35 - 45
219
- •239
135%- ■145
113 - I203fT
-

-

•

■

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-

-

57

-

-

683*35)*- 37,%
•

-

-

■

■

-

■

-

883*
43
239

-

144%

-

126

-

-

-

222

-

-227
- -125
-

227
123

-240

-

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-

-

-

-

-

-

89
61
74
64
77

•254
- -236
91
- -111
87
-

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62
195

74.3* 343*-

-

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67

■

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■

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46
218
190
65
95
GO
60
30
219
ISO
107

105%- 115% 105%- ■116
1483*- •161% 120 •164
-152 " 130
235
-137% 101
125
165
'15%- -133% 130%- 154
133
-157
131%- -143
136%- 152
98
88)*- 99
•1185* 81%- ■1183*
-

•

-

65
57
225
87

■

65
69
-230
- -101
5~3*- 67
74 - 83
62 - 73%
77 - 92 '
353*- 43
-

-

-

-

-

-

-

-

-

71

53
25
98
62
80

245
121
104
165
135
110
182
65
95
47

87

70
69% 63
- -230 '
235
- -l i by,
101
-

-

-

-

-

-

-

73%

60

no
90

73
65
82
4;

70%87%- •101%
42%- 68
-

-

250
- -138
- 132
- -174
- -157
- 131
149
- 100
- -108
77
97
89
-

-

48
218 - •238
200 - 215
55
73
£0 - 103
61 %- 82
65 - 83%
30 - 47
222
238
128 - 135%
107 - 117%
106 - ■109 "
132 - 156
224 - 281
125 - •147
131 - ■1463*
-

-

-

•

■

-

38%- 43%
233
210

68

-

96

G0%- 85
70
46

78
56

-

-

235%-302
130%-135.
1103^-118
108%-113
138
260

-147
-285

80

-

119

Company....

27

-

-

35%

29

39

-

-

-

-

-

-

-

-

-

93

-

-101
ariposa M. Co
8%- 20
Pacific Mail SS. Co.. 290 - -320
Atlantic Mail SS. Co. 153 - -160
N. Y. Cent. RR
102 - -119

Suicksilver M. Co...
ErieRR

-

-

833*- 88
103*- 18
-

-

33
209
215
60
90
54

-

-

39%

-247
- -220
70
98
-

-

-

67%
71)*- 78%
-

-

-

36%- 51
274%- -281
-

33)*- 38% 28
2)0
- -220
61
90
-

208
59
90

■

•

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55%- 62%
78)*- 85
40%- 48
■

■

-

275

281
-132

-

-

120

-137%

-

i25%- -i39%

34
-195
-205

■

202

131%- -135% 128%
1(.8%- -116
106)*- 113%
107
-115% 1083*- -1123*

26
141
170

-

-

36%

-146
- -170

-

41%- 58%
-

78
31
53

-

-

-

-

83
74

83%
10%- 18%
-

-

-

-

-

-

-

126

-135

-

90

-

69%

-

83

-

46%

-

-280
--129
--109
--109

-1273*

29
142
165
45
65
34

115

•129

87% 77 ■ 89
•187
190 --200
115 ■ -120
1233*- 128% 113%- 125
113 - 116
115%- •119% 112%--U2%
-190

-

100%- 115
160

■160
- •120

-

-

129

-

-

-

59
82
63
80

250
90
47
ISO
91

-

-

Panama RR
2( 0 - 265
250
Illinois Central RR.. 111 - ■127% 114
Cleve. & Pittsburg.. 79%- 101 ' 76
Cleve., Col. & Cin... 170 - -180
50
Cleve. & Toledo. .-.. 108 - -118
113

-300
- -131

t-

297
128
110
170

Del., Lack. & West..
Pitts., Ft.W. & Chic.
Tol., Wab. & W. RR.
do
do
pref.
St. L., Alt. & T. H...
do
do
pref.

88
94

97
96

-

-

•

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-

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-

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■

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292

29)

-

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66
90
72

Ohio A Mies, certfs.

•

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97
60

94%
71 '

-119
- 71
77
69
82
-

-

56%

-172%

-

-

6!%13
270
125

47
-156
-

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-

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56
70
57.
70

17%

35
133
140
41

-47% 36

-

■

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62%37
46
11

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152
146
51
75
50
63

135
115
42
58

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38

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46

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39
144
145
42
59
43

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-1143*
90%- -112%
493*- 67
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97
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58
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47%- 53%
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92

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-

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■

149
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55
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143
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■

295

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154%- 166%

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86

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78

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185
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185
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38

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185 - -205
195 - -204
56 - £7%
86% 75 - 83
62
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82 - 87%
57
32%- 39)*
- -325
305 - -320
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119 - -1283*
98
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100 - -106%
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118 - -127%

152
160
56
75
41
71
29

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58
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86
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17
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82

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114
118%
-

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170
108
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115
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265
110
63
75
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69
79
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47%- 52
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263
94
61

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51
65
33

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85
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65% 62 ■ 68
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-250
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^50 - 250
113
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122% -138%
54’* 79% 58 - 70
65% 74%
130
-135
128 - 130% 130 ■ -133
95
103% 98 - 105- 101 ■ -104
91
-105
93 - •12
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102
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104 - -108
109% -112
92
87
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92%- 95 100 • -102%
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23 - 27
213* 33
52% 63% 53 - 57
56% 66
34
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69
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60 - 60
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71

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146
175
60% 50
75
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102

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603*- 67%
255

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33
60
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44%
69%- 78%
-

67%- 69
46

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55

■

•

.45
141
170

■145
■170
5C%- 56
-

-

-

74%- •74%
43%- •45%
40%- 49
14%- 16%
•

•

220
131
95

-220
-135

-

68%
91)«- 97
84)*- 86
•

-

•

•

1103* 107

-

•46%

•

■109%

-

77

-

-

■

-

270

270

240
13072
127
100
105
124
104

-

-

•

235

-240

-235

-

138)* 1313*- -138

-

87
-130
-111

80
12?

235
131

-240
134

-

99

81%- 943*
-127%
102
-105
102%102%- -115
108%- -113%
-113% 101%- -1093* 1053*- -1083*
/12
-125
« -130
113 - 115
110%- -115
96
101
• -106
104
103 - -106
-105%
100
-103
106%- -107 105 - -107 105%- -107
27%- 29% 28%- -?4% 31
393* 343*- 33%
61
G0%- 64
62%- 69
643*- 69
653*
56
•73
70
■225
80 - 97
49% 4?%- 58
•

-130
96%- -102
103 - -109
111 - -113
96 - -103
96 - 104
26
30
58%'- 64
-

-

-

118%- 124% 1233*- ■1283*
643*- 72% ™%- 73%
■

-

92
38

116% 1123*- 118% 113%-■117% i05%- ■il7%
113 - 117
•115% 110%- -116
1(8%- -117
653*- 70% 68
84% 713*- 82
733*- ■76%

1073* 106
10§% 108
■

252

■

-

-

-

89-93

-

-

•

■

116%-llS

■

-151
160%- -174
-

-112%

75
-70% 70
32%- 37
35%- 43

41% 39%- -44%

-150
■170
62

-182

101%-108%

-

47 •
147
160
- ■182
48 •
56
47%62
66
77% 68
43%- 4(i%t 40 - 48% 42%- 45
41% 53% 48
54
46%- 50
11% 13% 10%- 12% 10%- 16
151
-165
215 - 230
230 - ■240
146
-150
140 ■ -%4
134 - -153%
92%- 95% 93%- ■1033* 95%- -102
863* 91% 85)*- 933* 90)*- 97
82
86
82 - •86
82 - 84%
-

9I%—113
180
107

-

-

125

128
- -109

*

•

-

-

-

-

-

-

-

-130

•

125

-

■

-

-

■

-

•

-

•

•

•

-

-

•

98%

45
60

35%- 37

-no
- -120
90
95
-

-270
-131

-

36
63

26%

97%- 100

95%- 107

40“
(id
36
63
26

38%
67%

43
64
35
65

30

SG%- 31

-

■

-

-

•

•

■

40
64

43
65

-

■

-

•

-

-185

101%- -106**
39
■

383*
7J%

-

•

55

68
38%- 53
71 - 82

68

-

•

■

-

185

90%'- 102

-

-

•

-

-170%
-114%

-

265
121

41 - 55
-205
225 -230
100%- -110
99%-106%
52 - 53% 57%- 57%
)00

88)*- 93?*'
76%- 91%
80
87%
111% 101%- •113% 1083* -111% 103%- -112% 106
■

-109

-

-

1103*
663*

53
68
47
60
32

1313*

-

-

35

--

-270

-

40%- 473*
r%- 85%
47 - -56%

62
265

-

-

■

933*- 98
77%- •98%
85 - 88%
•

-

-

-

—

-

893*-1ll
89% -107% 88
93 -114% 105
-115
103
50%- 74% 55
72’* 57

•

■

-

111%

-181
-121

•

-

-

-

-242

-

-

-

-

109
100
115
81
92
43
70

-

300
-132
- -114
-171
125)*- -134
-

-

-

-150
- 115
- -111
92 -103
883*- -1053* 89.%- -98% 85%- -100
813*-1C3
114 - -120
115 - 120
100 ■ -118
103 -117
89 - 92% 90 - 953* 81 ■ 90
80-92
90 - 96
99 - 95
85
95
84 ■ 93
31 - 40% 32%- 37
20 • 34
2D*- 353*
48 -v- 67
613*- 71% 61%- 67% 48 ■ 64
39 - 49% 42 - 48% 30 ■ 42
30 - 46
222 • -225
199 ■ -199
90 ■ -102% 90
97% 77%- 95% 80%-100
51 - 51
50
50
50 • 50
60
GO
40 - 43
25 - 35
25 - 46
60 - 70
55 - 70
60 - 73
G5%- 70
25
34% 263*- 275* 19 V- 3Q% 20 - 31
-

163

119%

70
75
88%
■96" 79%- 87
78
82%- 91
36
47% 43%- 50% 43%- 49
66
74
53
70% 50 • 59

75

250
122
86
160

-

-

■157%

-

116%- 124%

94

-

-

-

-

88

-

-

•

90

-

99%- 112% I00%--109%

155
114
113
106%- 111% 102

122%- 13178.%- 87

•

-

132%- 137% 117)*- 134*

-

-

-

-

187

-

-132%
116%- 128% 110%- -130
110%- •117% 1103*-116
-114%
105%- -1173* 90 -107
163
168
-170
167%—169
170
170
164
-164
145
-144
1543* 135 -151%
126
108
95
-116
110 -117% 107%- -114
105
119
109%- -1143* 95
199% 85%- 97
126
142
126
-132
127
-131
117
127
111,
126%-132
-135
-

-

-

-

-

-

-

188

270

-

•110

87%- 93
127% 111% -T22
%- 128% 119%--128%
-

120%- -128% 12
79
8 <% 79

-

-

-

-

-

Chic. & Alton
do
pref..
Chic. & Northwest..
do
pref.
Mil. & Pr. du Chien

SS
119

-

67%

-

c-

-

-145
728

25%- 26

-

170
170
51
83
54
73
38
265
114
93
101
107

■

-

-

-

Reading RR
117
102%- 118 103
115
Michigan Central.... 103 1183* 107
75
Michigan Southern.. 61
63%- 72

Chicago & Rock Is..
Chic.,Burl. & Quincy

-

-

255
124
106
169
131

-

-

preferred...

-139%
99%- -110%

-

14% 10%- 143*
-329
170
270 - -320
310
300 - 310 ' 280
2S0
150
150
50
-150
-110
145
175
-1623* 150
102
-118
80
-114% 84%- 104
86 - 104
883*- 953*
663*- 86% 683*- 78
44%- 733* 503*- 85
69%- 843* 70%- 793*
90
-101
90
93
70
90
92
77
82 - 90
813*- 85
95
-115
101
-117% 88 - -115
1143* 973*- -110%
91%- -114% 94
-

Hudson River RR...
Harlem RR.

-

115"--134*‘ 132%- -i40 * 1123*-137%
142%-156% 132 -140
133%- -1403* 123%- ■1343* H4%--130
124%- -132% 115 -133
85%- 1003* 93%-101 * 803*- 94% 82%- 92% 71 : 85
71V 683*57
-77% 68%- 74%
250
250
265 -265
1383«-145

90
95
48%- 05% 50
72 - 94% 86
58 - 72
66
-250
240
230 - 211
-1523* 105%- ^1% 112
68
75% 69%- 73
77
94% 71 - 80
61
883* 58 - 67
103
76
72%- 82
69
49%- £5% 51
-

-245
-.218
76
-100

57
-232
-

.

99)*- -105
:0!% -103%
Dl% 121 •134% 119% 1293*

-

-

1865.

Delaware & Huq. Co 152
-215
153 - -173
Penn. Coal Co
ISO - -1983* 185 - -185
Central Coal Co
38
47
403*- 50
American Coal Co... 80 - 84
77 - 60
Cumb. Coal & Ir. Co. 413*- 47
433*- 79

do

204
183

■

47%-

■

-

Del., Lack.
Pitts.. Ft, W. <fc Chic 82%Tol., Wab. & W. RR. 53
do
do
pref. 70

Canton

■

115
■135%
110%- 119% 1145*- -1283*
146
-157
157%- ■175
136%- -149% 142
151%
H7%- -144% H9%- ■1273*
122
131
131%- 146
90
87
843*- 893* 81
96%
94
96
94
92%- 98
-100%
475”- 56
4 (
4"%- 56
/IS
65%- 88

61
53
& Wcjt.. 195

St. L., Alt. & T. II...
do
do
-pref.
Ohio & Miss. ctr-....

613*- 71

-

51)*- 69%

-

Chicago & Alton....

50
- -202
- •188
72
- -120
-

■

-

1864.
33
172
171
5S
92

•179%
41%

-

-

-

106%- 1103*
104
•105?*

-

-166

-

-

131

31
35
156 -160
169
-171
30 ■
54
210 ■-227
131 ■-138
104% -109

■

-160

160
- •176
176
36
30%- 40
60 - 69% 60
213 - -2485 208
133%- -138% 130

47

Canton Company.... 33 - 393*
Delaware & Hud. Co 174 - ■183
Penn. Coal Co
ICO
•178%
Central Coal Co
643*- 65
American Coal Co... 92 - 94
Cnmbcrl’d Coal Co.. 463*- 51%
Quicksilver M. Co.. 45 - 60
35
Mariposa Mining Co. 24
Pacific Mail SS. Co,. 219 - 231
N. Y. Cent. RR. Co.. 130 - 1373*
Erie RR
106%- 113
do
preferred... 1003*- 1043*
Hudson River RR... 129%- 143
Harlem RR
86%- 105
111 - 1183*
Reading RR
Michigan Central ... H8%- 139
Mich. So.&N. I.RR. 84%- ‘0
Panama RR
200 - 222
HlinoisCentral RR.. 112 - 122
Cleve. & Pittsburgh. 105
120
Cleve., Col. & Ciu... 180 - •180
Cleve. & Toledo
120 - 141
Chic. & Rock. Is
122%- 149%
Chic..Burl. & Quincy 118
•:29
...

-

-

•

-

-

-

31**- 36% 32%- 35%

144
16!

175
102

175

-

-

-1063*

40%- 43
-

•

-

•

42
70

-

■

-

■

28%- 31% 27%-

41%
71

RAILROAD AND MISCELLANEOUS STOCKS.

09

1866.

There was a buovancv in stocks daring this year, and a comparison of prices at the opening and towards the close shows a
remarkable advance* in the range of nearly all the prominent speculative stocks.
It was the first year after the close of
the war, when the effects of inflation were apparent in stimulating all kinds of business; and the (.ovement then commenced in
railroad stocks which culminated a f^w years later in the distribution of the enormou sstock dividends which became so notorious.
Tke Milwaukee & St. Paul Railroad was this year formed by bondholders of La Crosse & Milwaukee and Milwaukee & Prairie
du Chien ; capital—common, $5,406,883, and preferred, $8,050,883.
Commodore Vanderbilt became a prominent stockholder in
New York Central Company. Great decline (December) in Pacific Mail Steamship stock ; having risen in November to 246, it fell
in that month to 170 after the 20th, when sold ex-dividend of 5 per cent cash and 33 1-3 per cent stock, and in December declined to
160. Illinois Central firm throughout.
The following were the. highest and lowest prices of some of the most active stocks, viz.:
New York Central, lowest 86£ February, highest 123* November ; Erie, lowest 55* May, highest 95 October ; Hudson River, lowest

March, highest 118* October; Fort Wayne, lowest 88 April, highest

98* January, highest 137 December; Reading, lowest 96*
111 October.
Januuary.

STOCKS.

Ril. shares, viz. :
Buff. N. Y. & Erie..
Buff. & State Line.. 195
57

Catawissa
do
pref.

....

Central of N. J

February.

80

-119

113
107
108
112

-114
-123
-125
-112

Chic. & Great East..

do

do

pref..

Chic. & R’k Island..

67#
86%
53%- 62%
90%-109%
-

26%- 29%
55%- 56%
98

114
76
Cleveland & Toledo. 103 -113% 105
Del., Lac. & West.. 149 -158 140
76
Erie
8C%- 97
do
81 -86% 80
..

preferred

<s
do *

25
52

-

27%
57%

-

52%

-

■

-

•

60

63

26%- 29%
55%- 61%
89%- 96%

69%
-123%
-

■

■

82% 75%- 82
-108% 107 -113
-

-145

124

-132

-

85%

74%- 87

-

82%

80

81

124

28%- 81% 80
68
61% 59
91 - 95%
-

-125

-

-

37

109
129
45
70

-

.

35%

37%
66% 63 ■ 68%
102%- -110%
-

■

-100

-129

-

327% -130

128

132%

-

-

•

-

-

■

-

■

■

-

•

•

-

-

■

-

■

-

•

■

31

32
50

-

■

*

■

37

30

35
52

35%- ■36%

72%- 76

75

Morris & Essex

.

New Jersev
New York Central..
N. Y. & Harlem....
do
Pref..
*■& Y. & N. Haven..
Wor. & Worcester..

Reading...

Pitts., F. W. & Chic..
Rome & Waterto’u.
8t. Louis, A.&T.H..
do
Pref..

Sixth-av.jN. Y

(N.Y., P.&B).

Tol., Wab. <fc West,
do

Pref

-

75

76

-

-101
-140
- 94
- 96

90-97

90%- 98
97 - 98
85-88
45 - 46%

99
145

-103% 99%-100
-145

90%- 98

135

-140
91

96%- 97
85-85
41 - 46

42 - 47
55-58
79-85
120 -120

88%- 90

-135

86%- 93

90%- 93%

50
60
85
128

40

20

21

101%"-107%
78
140
93
95

•127

12S

131
■138% 132% -137
50
49%- 52% 30

-

45

-

-

•

■133% 130 •134
45
33%- 35
■

-

■

■

-

70 ■ 70
68 - 63
79 - 79
34 ■ 37% 38 • 60% 37%- ■62% 42 - 55%
65%. 72% 72 • 81% *9%- 82
65%- 84%
108%- -112% 105 - -111% 100 - 112% 102 - 105%
85 • 85
113 ■ -115
111%- 115
111%- •113% 109 • -112
85%- 90
87%- 94% 82 - 94% 83%- 93%
117 ■ -127
114%- 123
111%- •121% 111% -126
150 - •155
150 ■ -152
150 - ■150
144%- -144%
6S%- 80% 81% 95
70%- ■86% 65%- 74%
76 ■ 81% 79%- 87
82 - ■86% 82 ■ 86
64 - 60
66 ■ 59
36%- •36% 38 • 51
63
54 - 62
52 < 53
65 - 69
63
-

-

•

-

-

•

■

■

■

•

-124
70

60

-

■

-

■

72

-

•

72

95

73

-

-

■

-

-

-

■

-

•

-

118 -128% 118 -126% 118%-137
116 -126% 115%-1»
-123% 123%-129

119

-125

H5%- 123% 121% -124% 121

-

-

■

•175

•

-113% 112%- 120% 118%. -122
74

75

-100

95

-

100

-

96%

-245

95
240

-

•103
243

103

68

-21%
48

60 - eo
22 - 22
37 - 43%
19-20

-

-

76

80-84

84-93

87

55

60-60

60-60

-it

95

90%

-106

-

-

2)

69
•
75
■
91
■ ■128
■

-

•

82-85
55 - 59

58
136
110
31

98
36
61
- •136
• ■110
40
-

-

85
56

-110

69% - 75

■

-251

109

-112

200

30-38
61-68

80
61

105 -105
31 %- 33

11 00% -101

101

32

-

39

63

•

-

-

-

95
85
-

98%-i06%
no

95%- 95%
84%- 92%
f5
57%
70 - 73%
-

60

40 - 44% 39
42
86 - 38%
20 —21% 20
20
19%- 22
113 -117% 109 -117% 107 -115
87%- 93
79%- 63%
7S%- 94
-

63-63

94%-100
85-87
51%- 55

65%- 75

99 -100%
85-90
54-63
72 - 79

-112

90-90
60 - 64
64 - 76%
85-85

65

(Md.).

13
13

-

69

58

-

60%

-14%

- 13%
43%- 53

13%- 16%
41 %- 43%

Cumberland
41%- 47% 41 %- 45%
Del. & Hud. Canal. 134%-147
133%-130%

Lehigh & Sus’hanna
Maryland Ant’racite

Pennsylvania
.-r*
.

85-65

110%-115

99

111
107
260

-112
-110
-265

112
110

-

99

-115
-115

115%-118

114

-120

-115^-li5

96

64%- 66%
no -no
35-40
61 - 61

-111
-

-

31-35

-

36

*34*

90

-

-

90

4l“ 36%- 88

67%- 73%

71

-

71%

111 -112
109%-110
39
47% 43%- 46%
71 -73%
67%- 70
-

38%- 60% 38-58
67 - 78
72% - 78
100 -100
44-55
73 - 75

105
40
73

-105
-

-

64%
75%

87%- 41
65-65
96

-102

<0%- 45%

-

66

-14%
-

-

12

-

42

'-’45*

45% 42%- 40%

132%-135%

133

-136

5%- 5%
15%- 15% 15
17%
131
-162% 141%-150
16
15%- 17% 12

13%- 16%

62-65
14 - 18

55

-

44

56%

lib

45%

-

60

42-55

43

r

49

-

140

16

52%

39%- 40

-118

-

19%

-

105

15

-17%

11%- 12%
16%- 1S%

41

17%- 25%

39% - 43

5-5
40 - 43%

‘-*64**

62

45

-

60

63

-

-

19%

14

-

58

51

13%-

46
150

-

-

74%
16
20
57

• 48%
46
56% 53%- •67%
152%- 160
-155% 151 -154
3-5
4%- 4%
-

-148

150

32%- 39%
4

-

53

-

40-40

6*5*

40-58

5%43'

44%

6%

7%- 12

-

43%- 48% 47

-

11

13%
19%- 26%

21

53

67
13

13
17

60-63

1D%- 10%
20%
19%- 21% 17
-

-

54
35
64
155

67
• 35

-

p.

71

-160

50

-50

64 %- 90
152 -155%

4-4%

-

-

*-i56%

-55

8

75

38

4%

153

3%-

5

4

-

4%

4

64%- 54%

52

-57

68

40-40

40

-40

36

138

49

48

-

-

56%

9%-

9%

64-70

52

-

57%- 69

-

59
■100
•

-109

128
205
190

-133% 121%- •133

-135
-210
-203

102
185
165

-136
-212
-200

Union Navigation.. 100

-100

100

-100% 100

106%

8%- 10

57
107

-64
-108

-

■

122%- -132%

-215
-200

215

-

190

- •209

-105

105

8

■

•

s%

53%- L6l%
12%- IS

31 %- 36
8 9%
51 - 65%

225
216

-225
■ -218
■

-130

75-84

3%~

-

63%

-15%
24%- 31

12

-

13

44-56
23

43
21

40

-125

13%- 14%
27%- 32%

51 %- 53%
14 - 14%

-no

55
102

-125
-216

112
213

-

67%

30%- 35

111

-212% 208

63

70-78

4%
55

-71%
-

-75

86-37
125
150

-125
-150

12

-

29%

7%- 12%

31 %-

27 %- 83%
34
7-9
8%
66% 53%- 67% 44
57%
14
14 -14%

-

59%

52
14

-

-

54%- 58%

51%- 56% 44-33
98
96%- 97%

-103

95

-115
-222

110
219

-117% 105

-110

215

-234

104

-

-

4%

150* -iso*

7%-

-

61
49%- 62
-107% 10*

124
210

28-34

-108

-106% 100%-106%

227

-

47%- 63% 47%- 61% 49%- 54% 54
66%
16
33%
23% 23%- 32% 29
8%“ 10
9%- :i% 11%- 14%

•

105

-

8
80

-

-

,

-

-138

-135

10%- 12% 10%- 12%, 11 - 12% 11 -15%
26% 22
27% 26%- 28% 27%- 35%
17%- 17%
62

-158

-

-

57% 55%- 62
14
12
14%

108

Express shares, viz:

«

135

34%- 43% 34%- 51% 33%- 51%
14

44%- 58

33

37%- 40

•

8-8
42 - 45%

155*

-157

125

9%- 10%

108
180
160

Adams
American
United States
MisceVs shares, viz :
Central Am. Transit
Naw York Guano...
Trust

60
16

-

Ext.)
St'77is'j) shares, viz. ,•
Atlantic
Pacific
do
(Scrip)
South Am. Nav

142

-150

10

-

Tel'ph shares, viz.;
do do (Rus.

57%- 64
16%- 19%

-105

H%- 13%
10

36%- 44%
12%- 17%

-146

87

-44

Cary
West. Union

44 %- 47

44

7

Improv't shares, viz.
Boston Water Pow.
Brunsw’k City Land
Canton

49

48-48

Copper..

Rutland Marble....
Smith & Parm, Gold

-

92%- 96%

Mining shares, viz.:
Copake Iron
0%- 0%
Mariposa Gold
12%- 15
10%- 13

Quartz Hill Gold...

16%

44%- 47%
141%-150% 145%- 155
140%-15C

150

Minnesota

61

-

43* *-*45%

50-60

4%-

Manhattan

Pref.

-

44%

42

39 %- 54
4-5
48 - 62

-

3-4%
82%- 97%
50 v 53%

-135

viz.:

do .*

61
13

60-62

-

60

Wyoming Valley...

14

15

40%- 47%
42

61-66

-

Wilkesbarre

Wolf Creek
Gas shares,
Citizens

69
13
15

167%-170% 155

Spring Mountain.
Spruce Hill

-80

91-91

...

..

80

102%-105% 102 -114% 111%-121% 106%-123% 107%-114

Shares, viz.:

American

Schuylkill..

49%- 66
G8%- 70%

250 -260
260 -260
12651.270 258 -265
-110% 104%-111% 111 -117% 112%-117% 114%-118% 110%-117% 108 -112%
•100
95%-108
102%-106% 103 -108% 106 -111% ,01%-111% 104%-107%

32
34% 30
66% 61%- 63

-109%; no
S3%- 37% 35

100%-f00% 97%- 98%

-130

-200

63

Warren

-

130

96

29-35
57 - 67

.

20%

-

20

80-80

■

•

-

67%
68%- 73%

■

95

20

95

■

98
30

-

42%- 46%

103% 103%
250

20

65-65

§4

97%-107
97%- 102% 96%-103% 98%-105% 105%-111% 107
88 -100% 92%-100% 95
91%-104% 91%- 95% 88%- 93
33-33
56-71
135 -137
115 -117
42-42

60-60
20-28

40%- 44
S9%~ 42
20
21% 19%- 20%
-109% 102%-109
104%-112% 109%-114 110%-115%
-81% 78%- 80% 78%- 84% 83 %- 87
82%- 88%
-

129%-129%
93% 91%- ■98% 97 - 99%

96-07
96
235

-

92

40

140
91

68

20
39
18
106
77

t

do
1st pref.
do
2d pref.
Mil. & St. Paul....
do
pref.

Quicksilv

-

-

■

175

-113% no
-122% 117
95

guar..

Ashburton
Butler
Central
Consolidated

124

108 - •110%
•113% 110% -113% 106 - •113
106%- ■113% 113 ■ -113% 109%- ■113% 110%- 111
105

-

30

2d

do




104%-106

-128% 127

-113
• -114
■ -130
45
•
■
70

110%-110%

Mil. & P. du Chien.

Coal

•

•

116 - 118% 110 ■ -118- 110 - ■111%
114 - ■115
H4%- -115
80
86%- 88%
76%- -84% 80%- 96
•87% 82 • 88
103
106%- -116% 115%- ■117
99%- -112
105% 104%- 107
■150
160 - 162%
144
142
130
-130
135
■147
140
71%- 79% 65%- 75
57%- 65% 62 • 77% 66%- 74%
74 - 80
72 - 76
72%- 78% 72%- 79

-115

25-27
prf..
Michigan Central... 101%-108% 100%-105% 101 -104
Michigan Southern. 66%- 75% 66% - 71% 69%- 83

8ton.

120

-115

...

McGregor Western.
Mar. & C., 1st prf..

Panama
Phila. &

-120

104%-118%

■

-

do

November. December.

October.

79-80

111

•

pref..
52%- 53
Hart. & N. Haven.. 170 -170
River
Hudson
98%-109% 99 -104% 102%-109% 102%-110% 108
115
Illinois Central^.... 115 -131% 112%-11<»% 114%-U9% 114 -124
6*.
55
70
Indinnann <fc Cin,..
70 - 70
Little Miami
Long Island

79%

98%-105% 107

99
-102
-121
-

116

-

107
100

do

Chicago

Sept.

August.

-107

St. Jos

4 oliet *

116

95
102

30%

-

■

115%-U7

99
101
117
44
63

■

-

-

58
24

79

■117

-

-

-

Cinn., II. & D’ton..
Cle'te., Col. & Cin.. 110 -123
Cleveland & Pitts
74%- 87

Ban.

110
-107% 106% -110
90% 91
-112% 84
93
96
100
94%-118
113% 115 115 -117% 113
43
40% 42

104

83

77-79

80%

-

-

60
27

July.

June.

_

85-85

Chicago & Alton .. 103 -105%
do
do pref.. 105 -107
Chic. B. & Quincy.. 109%-114
Chic. & Milwaukee.
Chic. & N’western..

May.

April.

-195
- 59

83%- 90
114

March.

■

-100%

-

222

97

108%-104%

27%- 32%

-

46%

-

21

8%“

8%

28%- 82
7%“ 8
44 - 60%
43

-

50

95%- 97%

94

-182
-246

103
160

109
113

-111
-114

110% 113%
101 -107%
6V - 75%
75-62
70 - 78

85
99

-104

73%- 84

-105

79-87
80-80

90

-20

-113
-174

/

15
23

28
-

23-32

18

-

18

12

66“-*02%

95

-

05

97

-

97

100

-100

105

-105

isc* -405*

23
>«•••••«

-

a

TO

RAILROAD AND MISCELLANEOUS STOCKS.
1867.

New York Central stock rises from
Vanderbilt party.
Speculation

8G£ in February to 123^ in November—a fact accounted for by continued purchases
by thd
generally quiet. Express shares admitted on Exchange list in October, but by close of year became
depressed. Chicago & Alton, on prospects of extra dividends, advanced (December) to
Pacific Mail fell off from 1^3 in
130Y
January to 108£ in December—a decline predicated on the advanced condition of its rival, the Union Pacific Railroad.
Erie, at 52
in March, rises to 77^ in
July, and continues high to close of year. Illinois Central reaches 133Jr in December ;
opened January at
111.
Chi') & MissUs;r>ni certificates converted
(Dumber) into stock.
Stocks.
January. February.
March.
April. ^
June.
May.
July.
August. Septembei October. fcovembef December.
.

—

1 —RiUr'd Share List
Boston, llart. & Erie
Cent of New Jersey. 124

-125
-11 OX
-112
-132

Chicago & Alton
Ch

e

,

105
“
pref.. 109
Bar. A Quincy 129

Chicago & Gt. East..
Chicago & Mlwau...
Chicago & Northw’n

80-80
32 - 46*

pref..

120
106
112
127

57#- 83*

“

-123

116

-116
-116

105*408#

-118

106

-109

-130# 129*432

35#- 39#

63*- 69#
95 -100#

|113#-115#
-107
-109
-135
8-10

115
107

-108

130
11

105
108
130

-132
16

-118#

-121# 121
-114# 114
111#-111# 111#-116# 117

120

“

p-ef.

09

-86

57

Hanuib. & fct. Joseph

-57

70

-

75

52

-

119

Hliuois Ceiitral

111

Indianap. & Cincin..

52
69

112

-112

120

1)0

OiJ

—

61#

-

73

69*- 72

125
113

-125

-135#

-138# 135#-140

114
&4

-117
-84

114
85

-116
- 85

Joliet &

5S*- 65*
71*- 73

55
174

-

56

1- 0

60

-

-100

105

1st i ref..
2d pref..

tTchlgan Central
Michigan Southern.

25-25

*K)

Milwau. & St. Paul..

33

-

pref..

New Jersey
New Y rk Central
New York & Harlem
“

'

pre

47

35#- 4

96

-113

-

24-26

Panama
Phi adel. &

Reading.

Pittsb., Ft. W. A Ch.
Rome, W
Ogdensb

fit L., A. & T. iinute
“

pref

Perond Avenue
Sixth

8ton

,

33
50
70
135

“

80

—Coal Share

2
meric.

90

90

-

115

-116

23#- 24#
87
260

-

-

S5

-118

90

-

87

36

-

66*- 76*
-79

75
98

75

-

98*

-

itu

109*413

63-63

63

113

109
70

418

59
74

97#- 98#

1 (191/

110#-113

409
70

414

1 nviz

82

-

97

-104

88*

111*414
112

412

-

71*

63*- 76# 69*- 74#

71

-

-

76#

73

-

-

63

75-80
50 - 60
61-63

62#- 62#

125 #4 33

123*426#

-124

121

-81

-

76

117*422* 120 -122
81
81#

24*

92

24#- 27# 17

91

-

33#- 37
53*- 57#

33

-

67

85

mu# 121

24#- 26#

84

65

-

140
97

-

85

93

119#-123

-

67

76-80

74#

81
50-50
61 - 63

124 433#
-134# 129*435

426

124
70#- 70* 68
93 - 95
95
102

-

22# 17

-

18

-

-

68
95

60-60

162#

-102# 101

16

40*
54#- 60

95

25*- 29
-

70

22' -'27#

-

31

07

02#- 63

"

33

-

30#- 34#

T

_

_

T

38

45#

-

43#

66

-

-

99*

-

54

60*- 68#

-

66

00
55
120
8J

64
55

-

-

120
90

34
59

-

39#

-

65

-

30

-

-

1U5

-115

115*423

117

-120
93

24

-‘27#

93
26
65
256
103
100

-

28*

67
-260
-111
-J.07
-

-

4!)
75

-

58*

50

-

83

83
65

"

-

55

-

84

—

125
26
67
261

-

38*- 48*
67*

60

-

69
-270

96

97

-

ll)3#-107
50 - 51
78-83

17

15

10

-

106*410* 107
bu
7b*- 82

95
77
40
61

-

-

95
77
47

-68#

45-46

45

-

45

-124*

108
100
700
121

37
69

-

100
-100
-123
92

120

94

92

-

300

28#

24#- 27#
72*- 74*

-312

299

-311

67

49
65

45 - 46
6-8

45-49

48

15

-51

70#- 71

434

72

52

-

68#

92

75
-300

-106

-’50
66#- 67

25*- 2ft
69*- 70

> '-294
91#- 96*
97 -100#

29i

95*- 98#
95*- 9S*
105
50

-

-118.
412

108

408

66

67
--50
-

£0
125

-ioo

-125
85

130
39
69

-

23*- 26*
295

99*400#
67

132

424# 124*440

91

-

95*402*
96*401*

-

-135

86#

95*- 98
85-90
40#- 49
60*- 65*

116
112

-

25

42*
63#

-113
-

-115* 111*415* 113*418#

60-60

46

97

-116
-115

102* 107# 101#-104*

41#- 47# 46*- 53*
66
73
69*- 72*
-

112
110
122
9S

-

100
-

27*

65

80

43
39# 33
61*- 05
58*- 67
-

-125
- 91

91

10*- 10*

100

91

68#

410

77#- 85

135
-105

95

35*- 40#
66
70#

-

64 x-

9S#-104* 104*410# 103*403* 105*409#

55-55
116 -116

SO

47*- 51

65

84*

91

9i

20#- 25*

31 - 35
60-61

96
-

-

95

96-93
39

40

^

411* 108
-

-140#

115#-117

95

-

70
263

3S#

10
10

Cameron

Central
Cumberland
Delaware & Hud

on.

ary land

35
v:9

-

-

-

85

iso
-

49*

39

-

69

61#- 68

48#

37*- 39*
61#- 63

38#- 43#

40
6

44-44

48

42
30
-148

41-41
23-28
144 -148

-

61#- 64

-100

Wilkesbarre,
VTyomiii£ V^Vv

57-61

43
33
145

47

-

SO

45
25

-147

145

-150

143

48
36
-117

26
113

148

-150

150

-

41#- 45
34
-146

29*- 32
147#-155

-150

150

-

-69

50

5-5
-

40
C

41

44*- 49# 35*- 35*
35# 35*- 41* 33*- 37* 29
152#-154 148*456 " 145 452 145

-

-149

40
25
146

100#-160* 180 -180

-175

175

37

31

-

j

45

36-43
.

:

.

—i 55

-

-

-

45

44

a

35-35

35-38

•

.

.

~

25

82*- 38
36#-40

-

37
10

-

-

-

-

-

49#

20

35#

175

-175

175

86

36

51*- 55*

65-65

.

41
30

-

...

-75

0

-

8#

-145

70

46#- 54
9#- 10#

20#
12#

94
-155

7#n....

70
11

-

145

.

United Srates

-

12

-

95
31
00

56
11

Schuylkill
Spring Mounta

46#- 58* 1 55
65#
62*- 67* 66 -71#
91#- 97* 90#- 99#

List.

»n

Pennsylvania

—

263
254 -258
-260# 260 -261
254
-260
09#-105# 103#-106* 100# 103
97* 104
102# 104# 103*409*
62#-105# 94*- 99# 92*- 91* 89#- 95* 95
98
96*-103*

91

Ashburton
Butler

.«■

-

.

Wttrren

25

40
85

96

pref..

Troy, 8. & Rutland

-

95*405#

6)

-

T

Toledo, W. & Wc*t..

-

47#- 56*

i

60-60

P. & B.)

65*- 77#
75*- 78

20

35
- 56
70
-133

A venue.

(N. Y

118
113

-137

1

118

25-25

40
85

95
“

1136

109*422* 119*425# 124*435#

96 -103# 102*-110
1 z90- 96*
111#—116
113#-116 117 -122

79

-121
-116

63-03

75#

-

-174

-103*1 100#-10G

56

93

..

Mississippi.
pref..

118
116

-105

90-80

52#- 70#

N. York & N. Ilavcn: 114
Ohio &

-130

j
-123

-ICS# 107 -107# 106 -108*1 107*408* 108*410
108 -114* :09 412* *'*9X412
108
83# 70#- 75# 70#- 7£# 64#- 74# 65#- 70* 67*- 78* 77*- 84# 77*- 84# 75
-100
90

**■

130

121*430#
480

435
- 20

5-5

90

Morris & E-sex.

18
61

122

428* (125

80

72
49

1)2

35-38
102
66

pref...

-

-

120
125
133
20

60

Milwau. & P. duCh.
“
1st pref..
“
2<1

-126# 126#437

10#- 15#
113*419

-

91*- 96
75#- 94# 77#- 86* 81-85
127*433* 100
121*427* 125#-131
-104*
ad 01 -107

124*4.26

68*- 67*

j 135437*

Manet. & Cincinnati
“

430
-122

-50
53-64

55-55

Chicago....
Lehigh Valley
Long Islaud

124

425

Dll

—

45-53

-122

Little Miami

-128

15

65*- 79* 71*- 75* 75#- 86* 34-95
109*-121
112#-114 113*422# 119*4.26

53-64

128

84-87

126

118

-

-

51-56

Hudson River

-120
450

16
-120

15
119

-124
-125
-128

120
123
125

iru

-120

52

Hartford & N. Hav.n

17
± 1

-123

-

Oil

55#- Cl#

15V

-121* ,122
-117
1117

-

scrip

52#- 08

141
10

-

-

Erie

-142

121
111
114

32#- 36* 30
36# 3i#- 36* 33*- 44* 43
51* 44*- 50
38#- 46* 41#- 48*
59#- 65* 56*- 65# 66*- 6J* 58
65# 64*- 73* 67#- 71* 63 - 71* 65*- 70
92#- 98# 85#- 93* 86*- 92* 87*- 95* 95#-104
99 -105
94 -104
99*403*
80
SO
80
88#
99 -100 ' 97-99
98#-100
98#-101# 98 -100 100 -101
100 401# 97 - 99*
-

“

132

14#- 1BX

-122
-115
-122
-150
- 10

61

Chic. RI & Pacific.. 91 -104#
Cin, Hamil & Dayt'n
Olevc, Col & Cinc’ti. 105 -111
100 -105
Cleveland, P & \sh..
150*45)*
Cleveland & Pittsb’g 75#- 91# 79
85* 78#- 83
Cleveland & Toledo. 117 -116# 117 -121
116 -122

Delaware, Lack & W

118
109

-

27-82
114 448#

...

-175# 170

-170

•••

45

41
10

36

-

-

-

31

25-26

••••••

••••

8—Gas Share List

Citizens’

(Brooklyn)

Harlem
Manhattan

*

-

145

126

*

-145

115

-160

160

-130

130

-130

127

167#-167#

140

pref

.

New Jersey 7.mr..t
Ne\y York gold

9
13

10*- 14 '
-

11

-

32#

Quicksilver

35

Boston Water Power
Brunswick Laud
Canton improvement

23#- 30

Cary improvement

11

6 —telegraph

9

10*
21*- 21
-

100

..

-15b

155

455

..

460

-280

1K3
130

8

-

-

45#
9

41#- 49#
-

11
8
20

-

13*

-

9#

-

23#

8*0#18

-

9#
8#

6#-

6*6*-

8*
8
16#- 21

17#- 24*

22#- 25

IS

-

23*

9
17

24

32#

31*- 35*

27

-

33#

21*- 24*

19
5
46

22*
5#
51*

47#

36*- 44#

6*-

22

6*
8*

9

-

12

9*

-

11

-

-164
430

10*
20*

7*-

9#
3-9#
17# 13
14*

-

8#
-15#

-

24#- 29

17

-

16

-

20*

15*- 20

16#- IS#

17#- 19*

43

-

50

42*- 45*

42

46*

44#- 57

30#- 34*

88#- 32

-

13

-100

68#- 41#

30#- 38#

25*- 33

22

25#- 28#
8#- 8#
43#- 48

24*- 27*

21#- £2#

20#- 33*

6-8
44 - 50#

4-6

23 - 24#
5-5

41#- 46

41#- 41*

42*- 48*

46*- 53#

40

40#- 42#

35#- 42

40

40*- 45#

41*- 50* 42

11#

42#- 47#
95

7#-

13

-

-

30*

-

5-6

-

45#

-

97

-

4G

-

33

-

15

26#

Sh's.

Western Union.

160

-155

•

Greg’yg'id

“

-150

•;80

4—Minim 'Si. List

Mariposa gold

156

155

-175

Metropolitan
New York
Cousoli’d

-127#

38

!

-

-

IS#

15

-

22#

fl—SVm$hip Shares.

Atlantic Mail

95
150

Pacific Mail

-110
-173

Union Navigation... 1-efi _m-3'
B. Am. Nav. & M. R 113*417*
8—Ex/ ress shares.
Adams
63 - 75
Araer can
70-80

Merch’s Un., $25 p’d.
“
“

44

44

79#-105
122
yOO

-160
11 K>

78
117

ii5 -iis

115

67

55
65

55

-

54#- 60

-

91*

-132

76
118

- 93
-128

-

61#

-

61

55
55
16

-

61
59
17

58*- 66#
61 -71*
13

-

19

54#- 67

70

54-70

Wells, Fargo & Co.
67
8—7 rust, jns&cSh'f

-

54
54

-

GO

-

SO

8

-

17#

66
64

74#i 72
74* 71
11
10#- 12
-

-

-

-

-

67*

-

-

62
70

17

-110

-111

•

•

•

115

421

445* 108#-130#

-

21

62 - 77
64-68

67

-

77

64

-

70*

16

-

13
19

53
57
10
13

-

75*

-

73

-

15

-

22*

72#- 7S
65*- 68

55 - 76
54-66

55
55

-

67*
67*

-

-

-

69

28
68

-

57#

47#- 59#

22#- 30
58
50

84#
66#- SI# 77
78* 74#- 82*

66

-

44# 36#- 42#

-

80

-121
108

**
*

-121

17

111

6 2 - 75
64-68

121

110

15

76*
77#

23#- 24#
54
65

Home Insurance.,
United States 'trust

62

61*- 76
18#- 2U*

65#- 72

114
117

-116

3d “
gg 44

United States...




109 -113
112 418
90*-101* 102 -109# 107 -113# 111 -114
124X-130 128*-143* 139*446* 141*446* 135*444* 139*450

.....

-108

112
160

-160

412

113

-116

77
42

-

84*

-52

71

RAILROAD AND MISCELLANEOUS STOCKS.
1868.

This year was marked by the contest between the Erie and New York Central Companies. Erie fell off from (March) 81£ to
(November) 35^. New York Central maintained a bold front throughout the year, commencing at 117£, rising (July) to 136f, and
(December) ranging 123f@159£. Depression in coal shares. Pacific Mail in January up to 115|, April down to 86, December up to
120#. Chicago & Alton (September) 158#, and continued hisrh on the prospect of an extra stock dividend. “ Henry Keep corner" in
Chicago & Northwestern stock, which rose in October to 97#. “ Vanderbilt corner" in Erie, as against Drew and Fisk, the latter
getting the best of it by an issue of convertible bonds, which were immediately exchanged into stock. In November, Fisk cornered
Drew in his Erie contracts. The Milwaukee & St. Paul, or “ Garner corner," in October, carrie t the price to 111, but proved a
failure for the clique.
Delaware Lackawanna & Western Company leases the Morris & Essex Railroad. New York Central 80 per
cent dividend declared in December.
Panama pays an extra dividend of 20 per cent stock, (September). In addition to the range
below, there were also sales of Columbus Chicago & Indiana Central stock at 40@41, and American Merchants’ Union Express at 42.
1

January.

Stocks.

February.

March.

1—Railr'd Share List
Boston, Hart. & Erie 18%- 17% 14
Buffalo, N.Y.& Erie

-16% 13%- 16

128
133

June.

May.

April.

July.

129%-131

Cent’l of New Jersey

iii%-in% 115

Chicago &44Alton.... ISO
44

pref.
Chic., Bur & Quincy
Chic

131
138

14%- 15

-15%

85

-117
-136
-138

117

05

72

-

44

-

“

.

39-60

pref.

Er ie....

7l%- 78%

pref...

Hanib. & St. Jos...
44

44

pref.

72
61
62

-

-

83
61
73.

Hart. & N. Haven..
Hudson Hirer
132%-147
44

44

scrip.

Illinois Central
Ind. & Cincinnati

...

Joliet <fc Chicago...
♦Lake Shore

54

-

99

-i02%

-60
97

m

-114

106

-110% 99%-105

104
43
25
11

-104
-45

-

15

-

41

90
47

-100

52%
pref. 63%- 67

44

-

77%
85%

137

-

-107

107

136

-144

54
102

-108%

-

170

88-40

80

84

-

27% 27%- 27%

-122% 116
-155% 134

-121
-151
-150
-170

135

-156
-171

168
40

-173

40-40

78

75

-

-78

67%- 71
74%- 75%

-71%
76

83%
79%- 83%

»

26-26

110%-117
140

-147

138%-146%
170

-175

40%

-

93

-

32 '

25-25

27
10
118

86-91

-

-

-

72%- 72%

-

-

-143% 138 -139% 133

92 - 97
46 - 62%
68 - 70%
87-90
87 - 90

149
50

-i58

144 -159
50-52
91 -91 ]
9* -101

-53

i66%-io7

-140

133

10
-121

-104

89%- 93% S3%- 93
103 -105
104%-108

29% 28%- S9

-

-

99
93
58

97 - 99
91-92

99
-93
-

100

132

-133

-134% 117%-131% 110%-130
-131%

65
-133
-

127%-134

138%-i4i”

.....

-

95

-

49% 35%- 54

66-71
-

-

9)

87

69

-

89% 85

-

134%-i39

-142

65 •
90

92%

120 -138
90-90
141 -144

143 -147%
142%-131% 143%-146
51
51% 50 - 50

-

65

"

65
128

65
-128
-

123
122

-145

92
29

-

92

118
82
106

-12i
-

-38)

124%-135%
90-93

140%-144%

-

-109

95

23%- 25% 25

-25

22%- 25

nt>

-

VO

63

118

-119
-

86%

45

118%-119
83%- 91

-107

-

143
91

...

•

*77%-*»7%

-

340

84
63

64

-145%
91

-368

-101

9-10

83% 83

- 30%
28%- 3)%
78%- 78% 77%- 79

330

60-65
90 - 91
90 - 93%

96

-

93%-10*%

23-28

-124
-124

145

37%- 41

SB

SB

96%-101

97%-l00

•

-118
80-90
105 -105
111

..»••••

•

93
-111
93 -112
65 %- 66

61
76

124
122
140
92
28
78

360

-

96

-

-124
-122
-141
- 92

-

-

29%
89'

-369

•

115

-129

84%- 89%

*-*9T% *63* -*70%

- 98%
65%
131^-134
120%-134
132%-134
132%-136% 131%-136% 122%-132% 123 -130% 123%-130% 115 -129%

65

97 -97
96-96

-

-

65
133

-ioi

95
95
33

80%-101

45%- 68%

138

28 - 29
10 - 10% 10 - 10
117%-121% 116 V—119

-

112%-114 113 -115%
91% 62%- 91%
37%- 92% 85
-

-132

88%- 97% 73
90% 74 %- 86%
88 - 98% 77%- 91% 75%- 88%
102 -109% 101 -109% 105%-J18
75 *- 78
75
80
74%- 77
84 %- 91% 81 %- 89% 82
88%
95 -103
101%-106%
96%-102%
126 -130
125 -131
121%-132

90%
83%- 91%
97%-U2% 100%-104%
81
58
| 79%- 82
85 - 8!)% 84%- 89
98%-102% 100%-103%
118 -120
118%-122
-

68 - 73%
84 - 86%
86-86
87 - 83% 83-86
213 -225

80%- 87

123 -123
New York &N. Hav 133 -140
140%-141 137 -142 150 -169 145 -151
Nor. & Wor/'Aslfir,,
94-94
94 - 94.
90-92
Ohio & Miss
29%- 34
29%’- 33% 29%- 31% 28%- 32% 29%- 31% 29 -31%
44
44
76 - 78
73-80
76 - 77
79 - 79%
pref.... 70 - 74% 75 - 78
Oil Creek & Allegh’y
290 -310
330 -346
Panama..
315 -345
295%-316 315 -330% 329%-339
Phil. & Reading.:.. 91%- 97% 92%- 96
88%- 94% 86%- 91% 90 - 96% 93%-106%
Pit s, B' Wayne & C. 97 -104% 99%-103
99%-103% 99 -105 104 -116
109%-116%
Ren. & Saratoga... 80%- 80% 80%- 83% 82 - 84% 84-86
86%- 89% 90 - 95%
117 -117
117 -117
118 -118
Rome, Wat & O^den
St. L, A. & T Haute 50 - 54% 50 - 51% 41 -49% 40 - 45
43 - 49% 43 -48
“
44
69 - 73% 68 -63
66 - 73% 67 - 68%
pref. 70 - 75% 72 - 74
Second Avenue
45-45
Sixth Avenue
120 -120
Ston. (N Y P & B).. 84-84
92 - 92
90-90
Third Avenue
Toledo W. & West. 42%- 47
45 - 47% 46%- 65% 46 - 62
49 - 52
46 - 51%
44
44
68 - 74% 70 -74
69 - 69
69 - 69
prel 64-67
70% - 72

pref.

-165

37%

119

45

29

....

44

-158% 160
-158% 152

136

98 - 98
99 -100
91%- 97
62 -67% 62%- 07
65
- 64%
77% 69**-*77"
46%- 51% 51
59%
64 -63
79%- 84%
6S%-77
74%- 78% 76%- 79% 73 -85
66%- 75

92

Morris & Essex
132
130 -135
New Jersey.
Mew York Central.. 117%-332% 125
129
New York & Harlem 112 -130
44

83%- 87

-147% 145%-143%

-99

-

44

-

-140
- 59

- 35%
27%
-16
2d 44
6%- 6%
Michigan Central.. 106%-112 111%-114
89% 88%- 94
Michigan Southern 85
99 -100
Mil & P du C, let prf 99%-103
44

2d 44
Mil. & St. Paul....

74-77
78-83

-75

136
59

»•

“

68%- 72%

69
73
81

130%-136% 133%-139

40

Mar. 4b Cin, 1st prf
“

-124

141
144

-

-117

65%- 75

122%-i4P

101

120

-144

70

67%- 78% 65%- 81%
74 -80%
75 - 83
74 - 77
58%- 74
80 - 85%
72 -82
-145

-

-12i

-138

128%-129% 138%-145
164

23

22%- 23

-124% 118

120
137

-

68
75

130

Wt

117

-

78

-i49

60

18%- 24

18%

73 - 84%
65%- 72
80% 77%- 84%' 78%- 84%
93%- 98% 96%-105% 105 -110%
90%- 92
88%’- 90%
83%-*89* ’ 86%- 91% S4%- 90
105^-110% 103%-110% 102%-104%
123 -124% 118 -118
U8%-125
63
75

50-58
75 - 75

140

-

-

85

November December.

i

72

58%- 62% 53%- 61% 62 - 69% 60-64
72 - 75% 72%- 76% 68 - 76%
pref. 70%- 76
98% 85-97
Chic, R. I. & Pacific 93%-100% 96%-l02% 91
101 -110
101 %-i06
Clev. col. Cin. & Ind 9S%-101
101%-106%
Cleveland & Pittsb’g 87%- 98% 93%’- 98% 83%- 96% 80-92
Cleveland & Toledo. 97%-114% 105%-113
102%-108% 97%-106%
l)el.. Lack. & West. 107 -112 114 -115 113%-114 114 -115%
44
44
scrip 107%-107%
Chic. & Northwest.

Bubuq. & S. City.
44

-

-118

&Gt. Eastern

44

16

15%- 15%

U4%-118% 116 -120 119%-126
129 -138
120 -123% 127%-128
128 -129% 130 -136
132 -133% 125 -129
-143% 144 -153% 149%-150 150 -150 149 -150 151 -154

-136
-140

Chicago & Milwauk.

4

15

October.

September

August.

.•••a

•

•••

81 %- 89
85 - 95

132%-133%
123%-159%
120

-128

120%-120%

141%-142

140 -143
90-90

140
91

-140
- 91

28%- 82% 28%- 31% 29%- 34%
78
330

-

79

-345

79-79

330

80* *-‘80%

-330
327%-340
99% 96%- 98%

89%- 95% 9S%-100% 92
9i%-101% 88%- 95
106%-110% 105 -110% 107 -111% 10 3%-117% 105%-U3% 109
93
92%- 95%
-

110
40
66
40

114
43

-110
46
- 68
-

-

114

-114

-

46%

40-45

-114
40 -41
60-62

113

-114
93
-115
-

60%- 65

46%

80-80

80

-

80

80

180

48%-* 51% 49
69 - 73% 73

85-85

- 83
-18J

-

53%

63%- 64

-

73

73%- 78

-

58%- 67
73%- 78

54
70

-

62

-

73%

83-83

45

53%- 59
70 - 70%

2— Coal Store List
American
49-50
52-58
Ashburton
Cameron
5-6
Central
40 - 40
41-46
Cumberland
32% - 38% 33 - 37%
Del. &Hud. Canal. 147 -148% 145%-150
173 -173
180 -180
Pennsylvania

45

48

-45

-

48

43

-

43

45

2-3%
46

-

40

48

-

40

30%- 35% 29 - 33
147 -152% 155%-160

'

50
33

-50

35% 33%- 35%
133 -163%
156%-165
-

*

*'

33'
130
210

******

-

35”

-141
-210

.....

29

-

81

129%-131
200

29%- 35
127

-131

-200

Spring' Mountain...

33-36
84
128 -130% 127
210 -220
220

-41

86

-183% 180

-

89%

-184

-220

40-40

5—Gas Share List.
CUtiKATIH

.

,

,

r

132

t

-135

141

_

-141

140

-440

140

-140

144

-144

Manhattan

210

Metropolitan
4—Mining Sh List.

Mariposa gold
“

44

-3
8%- 8% 7-8% 6-6% 6-6% 5-6
11
9 -12%
14% 10
pref. 13% - 15% 10
9%- U%
6%- 8%
-

Quicksilver

21

-27%

23-25

-

20% - 23

23

-

23%

27%- 32%

22%- 29%

6—Land <ft Imp. Sh
Boston Water Power 39 - 23% 20 -21% 19%- 20% 19 -21% 20%- 21% 17%- 23
Brunswick Land....
-4

Canton

Caiy

Improvem’t. 48%- 60% 56%- 64%
44

-

64% 45

-

49%

....

49

-

8%-

....

6— Tdegraph Ska's
Union

Western

45

36%- 89% 33%- 87

33%-86% 34%-38%

95%-115

85%- 99%

28

-

106%-115% 108 -114% 102%-111%

86

-104'*

52

49

-

51%

8%

-210

225

3%- 5%

4-4

8%-

9%

19%- 24
16

-

17

8%- 10%
45
10

-

49

-11%

-225

230

-230

225

-225

230

-23k

5%

5-8%

6-6%

32%

13%- 21%

18%- 22%

19

20%- 23%

21%- 27%

20-25

20%- 23%

15%’- 17% 15 -15%
7%- 7%
8%- 8%
46 -49%
45%- 43
10%- 11%

15%'- 18%
9 -12%
47 -51%

14%- 15% 13%- 14%

7-7
20 - 22%

33

-35

36%- 38%

33%- 3S% 33%- 35%

31 %-

28

20-26

30-30
95 -103%
23%- 26

56%’- 63

51 %-

46
51 %- 54
44%- 48% 40 23 - 25
18%45%- 49% 41 24%- 27% 24%-

8

34

-

-

84% 34 -83

11

-

4%-

21%

12

45%- 61% 47%- 50%

33%- 87% 33

-

87%

7—St'inship Shares

Atlantic Mail....,
Pacific Ma i
Union Navigation..

95% - 99

18%- 26%

R7 Vc

20% - 30

35
90%- 97

15
- 29%
21-21
19% 20-21
97%-10l% 98%-104% 101%-ll3% 110 -130% 112%-1M% Ul%-120%
26%- 29% 27 - 27%
-

8—Bxpre s Shares.

Adams

76

American

73

-8'>%
- 77%

71 %- 77
66

73%
Merchants Union... 36
39% 30 - 36%
United >tates....... ?4%- 80% 7i -76%
-

-

Wells, Fargo & Co

.

9-Trust, dtc. Sh's.
Union Trust
New York Guano,
Bankers & Brok’s As
.

*

44% - 49%

40

-45

70
67

76% 52 - 76%
70% 49 - 69%
32%- 35% 25-35
69%- 73% 45%- 71%
-

-

35-41

-

55%- 61%

85% 22-27

3%- 12

11

120

-is

known

24-29
45-56

23%- 23

-

48

49%- 52% 46 -50
41 -49
45% - 49
21 -23% 18%- 21%

48

24%

-52%
4l%- 51
21 %- 25%

46%

41

47-50

45

27%

2 3%-

53

45%

-

51

31% 28%- 31%

-

-50
-46

14%- 18%
46%
29% 25 - 26%

44%- 50
25

42

-

-120

109%-li3
was

58
42%- 54%

ff—»

-

Previous to the month of October this road




26

53-61
28 - 31%

as

106

-l'i4%

4-4%
96%-106

99

-105

the Cleveland, Painsville and Ashtabula Railroad

104%-i06
Cc&g&nj.

ioo -ioo

RAILROAD AND MISCELLANEOUS STOCKS.

1869.
Stocks generally reached high prices

during the first half of the year, the prospect of stock dividends
prominent. Chicago Rock Island & Pacific stock advanced (April) to 139, on rumor of extra divideud influencing several of the
to represent
government
land grant.
In May the Pacific Railroads were opened for business. Erie struck off from the
regular stock list on account, of
breaking rules in not registering, and no quotations were made at the Board from March to August. Coal stocks
generally dull.
Express shares low. Mariposa gold (June) falls from 24£ to 7, and preferred from 50f to 14.
Pittsburgh Fort Wayne & Chicago RR.
was leased to
Pennsylvania RR. Company, at 12 per cent on stock, and the stock afterwards increased*, and
converted thus into a 7
most

per cent stock.
In October the consolidation of the New York Central and the Hudson River Rail
roads was made, and a new
distribution of stock certificates issued—27
per cent on.New York Central and 85 per cent on Hudson River.
The most important event of the
year was the panic of “ B ack Friday,” on the 24th of September.
This was caused by a great
corner in
gold, engineered chiefly by Fisk and Gould, and which culminated on Black Friday in a rise of
gold to 162f, and an
immediate fall to 133 on an announcement that the
government would sell $1,000,000. The clearings of the
Gold.Exchange B ink
became hopelessly involved, the bank
suspended, and there was a dead-lock for several days. Stocks fell off
immensely, and the
prominent firm of Lockwood & Co. suspended, besides a number ofvsmaller houses. It was the most severe
panic, from purely local
and speculative causes, that had ever been known in New
York. The fluctuations of some of the
leading stocks in that month were
.

follows : Chicago & Northwestern,
86^-63 ; do. preferred, 95-79 ; Chicago & Rock Island, 115^—102 ; Erie, 42-27 ; do. preferred,
71-57-^; Hudson River, 186|—134 ; Lake Shore & Michigan S -utli.,
100^-761-; Milwaukee & St. Paul, SOf-Gl; do. preferred, 89^-75;
New York Central, 203|—153; Ohio &
Mississippi, 32f-24; Western Union L'elegraph, 37^-35; Pacific Mail, 80£-59£.
as

7—St'sMp

i

STOCKS.

January.

42#- 39
69#- 03

1 —Baird thar^n :
▲lion A T. Haute..
do
pref.

Boston ET. A Erie..

Chicago & Alton.

February.

41#- 39
68#- 65#

28
151

-147
-14S
-185
- 43

pref. 150

ao

27

-

161
160
190

CMc. Bur. A Quin. 2.10
Chic. A Gt. Eastern 48
Chic. A N’western. 84#- 81

-152
-153
-187

84#- 82

..

-

-

pref.

At fret

..

girl em

142#-125

46

-

140
122
118

-

8#-

hew Yor* Central
N. Y. (’. A Hd. con.

do

23#
8

H6#-il2# ii*4 -iio
166#-154# 165#-160

go

-152#

-180

-159
-190

199

166
166
191

1

33
58

-158c

168

-159
-188

32-30

29 - 25
26#- 25
60-56
63-68
57-57
18 - 17
11 - 9# 10 - 7#
146 -ia5# 152 -145
146#-141
147 -136# 149#-146# !45#-140
165 -159# 155 -147
151 -147#

59-54

162 #-155

-153

200

scrip.

Oil Creek A A1 eg

.

-139

1*66*

-

-

-193#

151 #-135
156 -136
170 -160

-

-

-

-

-

-

39
pioi. 77
348

154

-

32#

-

77

75

-

••

0900 mm 00909

-134# 150
-108
-110

-135

119
114
156

-

96
45

-

12

-

27

-

57#

“.... fiS#- 93
Rome, W. A Ogden
8)
80
Stoningt^n

Reading

8#

-

82

-

ii8#-ii7#

82

67
78

-

-

59#
73

Warren

69

63#
77*- 77
-

-107#

•••«••••••

99999000000
0999900000.

-142

168#-142#

167

-160

160

-123

149#-129# 141#-129

-il7#

j!36 -126

133
130
194
146

131

-i22

125

-

92
97

ii2 -105# 108#-107

i09

-146# 157
-145

-114# 139
134

166#-153#

148

-145

14?
96
50

-103

23 - 2i
9-8

-143

117

95
46

117

-118

-

96
50

53#- 23
'8#- S#

210
127

-124

23

-

i36#-i2S

-210
-127

111

-108

30

-

RQ

-130

140
125
105

-ioo

m

140
125
105

-130
-120
-104

34
76
335

34#- 32#

-

92#

91

-

22

-

22

20

136#-127# 132#-128
78#- 73
89#- 84#
90

-

87#

84#- 78
92#- 86#
89#- 87#

-

130

20

8#-

9-9

9#

-120

123

104#- 97

-123

109#-102

217#-189# 212#-197

-135

131
-124# 128
-105
105

*83*

69
78

70
300
159

32
70
-295

-132

140
•

94#- 81#
20

-ii6

m

65#

-124

140
-104# 112
-

31#

285

-270

-152# 157#-150

100#- 96#
125

-232

123#-120
107#- 97
206#-153

21

-il9

121

70

65#
83#- 79#
88#- 86#
-

120
102
195

-

-119#

71

65#
84#- 78#
-

83-87

-117# 120

*-*94#

-128
-112

32#- 31#

99#- 92#

-125

270

-230

79

-

80

-135
-130
-112

112

32#- 24
251

-240

140
131

-125
-130

83#
95# 97#- 91
itO#-io:j# 110 -105

77
86

94#- 85#

-

87

141

-

80

*92#-* 83#
84#- 71

141.
108

28#- 26
70
240

-108

27#- 24#

70
-200

69

-

-

69

207#-203

-

85#- 83#

-

97

-

-138# 140
140
-132

93

26#- 22#

-m*

205

-

105

*-i85* 197#-197#

-140
-137

88
S5
89# - 85#
99#- 95# 101#- 97#
-105

••••■••

-

71#

88

74

83#- 50

6?

-

55

76

87#- 74

83-80

80

"63#- 55

-

-

76#

75

-

-

40

40

-

28

-

-120
-220

9090

60
29
124
250

0

-40

60

82

74%- 66#
87#- 81#
88.#- 85

98#- 88

40

82# -79

77#

-

77#- 66#

!24#-il7

119#-119#

83#- 74

140
130

87#- as#
21#- 20

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-112

112

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151#-151#
90
9S

18#

*

73#-66# 78#- 72

-180**

••••

91%- 86#

18

-

124

80#- 61
89#- 75
88#- 87#

185
-

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-104#

134

-131

•••*.

8

-

125

-120

432#

-125# 145

33

-

101#- 95

83**

-

37

325 -3“t)
159 #-140

97#- 91

111#-111#

32#
79#- 76#

75
325
-123
-

109

-106

174#r156# 172#-154

109#-104# 106#- 76#

*-

-108# 312 -103
121 -111
122#-103
164#-155# 175#-159# 194#-172# 197#-1S3
-120

21
27#- 09

AH.

52#-*62#

232
133

112

121

27
AH

109

92#- 92#

23

9#120

-

i26

123 12S#-120
-159# 188#-179# 186#-134
-140# 142 -139# 139 -134

50-50

-

-129

-115
-119

34#- 29#
59#- 54

-107#

-

97#- 94# 103#- 95# 118#-1G5
119 -107#
71#- 64# 81 - 71# 79#- 75# 80 - 70#
89
80
80#- 76
91 - 81#
91#- 85
88
86# 89#- 87# 91 - 90
93#- 89

»venne

Toledo, W. A W...
do
pref.

112

•••••••••••

-iis# 129#-i'26

132

139

-

-105 #

0990999

SIS

164#-152

23#- 20#
8#- 8#

-117# 125#-117

96#- 91#

73#

-

108

••••••••••a

99909

119#-112#

106#- 97

*2*4* -*23*
8#-

-

76
310

-322

75

-

71

75

-

23-13
84 -73

•

152
150
120

-114
-112
-138

95
46

32
- 75
-330

-

75

09904

75

38#- 83
75#

77

Panama
-340
340
Pitt# Ft. W. A C.. 124#-112# 123
do
guar

90#- 80#
108#-101#

-

-10i

-143

-

*76#-* 66#

-

-

95** 105* *-98* 105#-100*

77-77

Mississippi

do

November December.

96

160

Norwich A Worces.

Third

85

162

-159# 160

-

scrip.

N. York AN. Hav

Ohio A

94

36
59

60#- 59#

October.

-

do
pref. 96#- 87# 81#- 77
Morris A Essex
87#- 85# b7 - S6
n*T, A Hfirt
New Jersey
130 -128
130 -129# 129

scrip..

59

-

-

96
47

121 -114
120 -:17#
Mich 8. A N. Ind.. 96
87# 97#- 93#
Mil. A St. Paul
67 - 64#
77#- 63

do

38

-

September

-

119
115

95

-

-

63

-156

87#- 83

-

105 #-101# 107#-105
28

40

-

161
161
199

138#-135
140#-1:>5#
145 -138# 141 -139
145#-139
-

33

72#- 63

August.

-124# 139

137

-109
-103

93

40

July.

••••••••••*

-137

Michigan Centra1..

New Jersey Central

39#- 86
67#- 65#

Jane.

93#- 77# 83
78# 93#- &3# 86#-’ 03* 73#-*69#
75#- 65#
9S#- 93# 106#- 96# 105#- 93# 96#- 93# 101
93# 95
79
85#- 83# 89
as#
-128
13S#-125 12S -115
113#-113# 118#-114# 115#-102
110 -103# 106#-102#
46
42# 49
33# ‘47
41# 43#- 89
37
39#- 36
33
34
28
24# 26#- 22
21#
94
89#- 87
86# 99# 92
103#- 91# 109#-102
112 -82
10S#-104
104
86# 86-79
107#-107# 97
96#
69
62
79
64# 75#- 68# 75#- 78
76
72
82
73# 79
73
73 - 73# 78 - 74#
117#-113# 116 -113
119 -113
119#-115
113 -110
113 -111# 113
-105# 111 -109 111 -104#
116
115#-!07
109 -105
-114# 116#-110
105 -102
113 -104# 111 -104
110 -108
109 -103
131

•••*»#•

45

Lake Shore
103 - 99
L. Kh, Si Mich. S...
Marietta & Cin., let
do
2d. “9**- 9*
Macon A Western.

May.

83-88

do
pref
H&xl A "at. Joseph, iio - 90
do
pref. 110 - 91#
Hudson River
1S7#-130
Illinois Central.... 144#-139
Joliet A Chicago... 92 - 92

Long Island

-

85#- 81
92#- 89 *

01#

-

35
65

-

101

*40#-*88
04

38
66

April,

25#- 25#
159 -lt9# 162 -i 49
156#-154
161#-150
175 -172
174#-172

do
pref 92 - 83# 92#- 90
Chic, k R. iBland
135# -117# 132 -126#
Cin., ft am. A Day.. 77 - 77
Col.. Chic. St Ind. C 69 -43# 56 - 45#
Clove. dfcPbts
93#- 82# 94
89%
Clove. A Toledo... 107 -100# 106#-103#
74
Cl., Col., C.n. A In. 75 - 73
68#
Del., Lack. A Went. 12'i#-119 119#-115
Dubnone A S. City, 97 - 94
107 -103
ao

March.

87#- 87#

-

75

57#- 49#

72

-

72

%—Coal share Wrt;

Arnppip.H!i
A •hhnrt.n

48-48

n

Cumberland
Del. A Hud. Canal

Pennsylvania
Bpring Mountain...

64-60
39 -37

40
2-2
65 - 60

38#- 36
-125# 129 -125

132
222
40

-

215
40

*50*'-'SO*'

63
37
129
217

-

62#

- 37
-127

-40

62#- 62#
35

-

130

30

-125#

66-66
36 - 30
134

-130

36
134

35

66

-

33#

33#- 30

-130

131

45

62

44

-

45

-

c

.

160
-230

250

-250

230

-230

4—Mining eh. list:

Mariposa Gold
do
do

pref.
1st pref.

8#- 6
25#- 20
26

dt Imp:
Bos. Water Tower.
Brui sw’k City Land
Canton Imnrv’ment

16
10
62

-'22

It—Land

23

IS#
44#- 34

13#

25#- 22#
16
10

-

9#

-

49#

33#

39

89#

-

-

65

-43

45-38

United States

59

Weils, Fargo A Co.

30#- 23

19#- 12#
-

-

26#

122

20
-120

250

-

65

-169

-150

150

24#- 18#

24#-

-150

7

9-8#

8-8
16 - 10#

19

16#- 15#

10

15#-

15#- 15#

16

-13

56*

-

37#- 35

17

10#-

8

9#-

8

17#- 16
9
8#
65#- 62#

17 - 16#
11 - 8#
68-62

62#- 60

15 - 13#
s#- 8#
58#- 58

44#- 42

43#- 35

39-36

39

92#- 81#

87* -*79**

29#- 29#
80#- 59# 69#- 56#

63

59#- 56

57#- 49#

58#- 52#

59-65

63#- 60

42#- 35#

38

36

11

11#-

36#- 33

42

43#- 39

20

22

-

-

59

-

42#

-

-

15

*95#-*S0# *93#-*80#

69#- 55

58#

62

59%- 38
20#- 16

45

42

-

39#

41
16
6S

*••••••••••

39#

17#- 15
56#- 54

16

-

15

69

-

56

32

37#- 30#

-

30

11

-

11

-

-*
-

59

59
40#
39
14

62

38#
14#

68#49#44#15#-

63

79

66

75

36#- 31#

-

-

58#

43#- 39#
6-6

69#
31#- 21#

32#- 29#

-

-145

-

37

•••

108* *-*106*' iio’~i6s“

•

•••

-

10

69#- 62#
22 - 16#
150

•

-14

22

-

31#- 30#

8-7#

21#- 14

63

-

-60

-236

-250

53

61-58

145

5-5
101-100

-

-129

63

65-65
15C

26#- 24
121
235

59#- 14
83
81#
18#- 14

97# 101#- 88# 95#- 89#

43

9—Tr. dtc..shares:




20

123#-117# 120

Amer. Mer. Union.
Merchants Union..

hankers A Bro. Ass

-

63

36# 38#- 36#

22-21

B—jBxpress shares:

Biw York Guano.,

-

17#- 16
9#- 9#

25#- 19#

-

shares:

l-aciflc tfaii

-122

22#- 20

-

15# 18#- 16
9#- 9#
9#
63#- 60
61#- 59

-

6— Telegraph:

—

19#- 13
31#

35

126

-

12#

18

-

16

16#- 15#

ii

15

-

12

15#- 13# 18#

-

Quicks lver

Western Ui ion

11#- 8
32#- 24#

-126

31#- 28

44

%—Oas share list:
230

128

-212#

28-28

Manhattan

-127

35#- 33

*•••

30

14#- 13
9#- 9#
54

-

50

37-36

-

30

11

63-50
19 -16

60

49#

26#- 17

9-9

62#- 50#

36#- 34#
-

51

58#- 51#
20#- 16#

12#

13#- 13#
8#- b#
51 -48#

35#- 32
53#- 42

-

35

9#- 8#
52#- 48#
22

-

16

-150

••••••«

*•••••

-

50

16#- 14

iio -ioe#

•••••••••••

105

-104

.......

103#-103#

tart

......•

•.j•

.

73

RAILROAD AND MISCELLANEOUS STOCKS.
1870.

Stocks were generally more qui-et in the early months of this year, outsiders having been frightened away by the September
(1869) panic. Chicago & Alton stock quoted ex dividend February 10, the capital stock being increased one-third, on terms which
made it equivalent to about.33 1-3 cash to stockholders.
Panama stock dividends reduced from 6 per cent quarterly to 6 per cent
per aunum, owiDg to competition of Pacific railroads and the taking off steamships on the Pacific Ocean lines.
Union Pacific
Railroad stock (December) fell oil to 9, in consequence of the stoppage of Oakes Ames and other temporary embarrassments.
United States Express stock (December) quoted as low as 32, consequent on quarrel with Erie Company.

2—Coal

February.

January.

•toaw.

March.

July.

June.

May.

April.

August.

Septemb’r.

October.

November December.

I—Railroad Shares.

82* 34*- 25* 38
64
58* 66
B7*- 56
26

Alton & Terre Haute.
“

'*

pref...

Albany A Suiquehanna
Boston, H. & Erie ....
Chicago So Alton.
“
“

“

“

pref.

-

-

9*146
146

8*

•

•143
• -144
-

scrip

Chicago, Bur.&Quincy 153 -iso
Chicago & Norvvestern 75*- 67
“
-

-

“

pref. 9IX- -.-82*
Island .. 107X- ■101*

Chicago So It.

Pittsburg. 92X- 83*
74
Clev., Coi., Ciu. Aina. 73
Col., Chic. A Iud. Cen. 20*- 15*

Cleveland A

•

-

-

-

107

Del. Lack. & West

-

■102*

Dubuque & Sioux City 109*- -103
25

Erie
“

-

22*

-

43*- 37
- -ISO

pref

-

liG

Harlem

-

34
63

■

-

-

40
66

-

85*
63*

38

-

“

-

-

-

-

-

■

-

-

-

-

■

-

•

-

-

•

-

-

-

■

-

-

-

-

•

-

•

-

•

-

150*- -141

pref
Hartford A N. Haven.
scrip

-

-

144

4 3*
119 - 117
118 - •114*
118*- 118* 119 - •114*
114 - 111* 114 - ■108
162 - 156
160 - 156
85*- ■81* 84 - 79*
89*- 83*
92*- 88

3*

ex-

•

■

■

122*- 115* 118*- ■109*
110*- 109* 110 -104*
82 - •79* 83*- ■78*
16*
22*- 19* 22
111*- ■lit 106*- ■104*
107*- 106* 107 -102
25*- -21* 23*- -20*
45
46
44*- 44*
145*- -187* 142 - -129
-

■

■

-

-

175

3*

-

113
115

118*- -112
-

“

“

-105
-104

116
115

pref.

Illinois Central..
Joliet A Chicago.

142*-136

Lake Shore & Mich. S.

83*- 84

2d

107*- ■105* 113*‘-106* 119*-110* 121*- 117* 11$ - 108
122
118 -108
■117* 120X- 115
107*- ■106* 112*-106
-

■

-

95

145*-136* 143*- ■137

pref.

Mich. Centra!

89*- 84*
20

Marietta ACin.lstpref
“

-105

109*-1Q5

142'*-i33

143
91

-133
91

-

-139

142

iiIS

Pauff.75

20

-

88*19

*

-

■

124

18*

8
8*
8*
-118* 121 • -119

8*-117

85*

99
20

-

-

-

-

-

•

-

-

•

-

-

■

-

-

■

■

-

-

•

-

-

-

19

19

-

isi

-

8

19

-

63*- 58
77 ■ 71*
85* 91*. 86*

74*- 62
89*- 75

-

-

•

-

-

-

65*- 58
80 - 72*
95 - 89X

63*T

68X-

83
94
121

68*

•

“

“

pref..

70

70

-

Norwich A Worcester.
170 - -157
Panama
Pitts. Ft. W .& Chic.. 89*- -86*

175*'-169*

93*

98*- 95*

96

Heading

Iteuselear A Saratoga.

Home, W. & O
St. Louis A Iron Mt...
Sixth Avenue

Stonington
Toledo, Wab. A West.
“

“

pref..

-

-

92*- 88

71
108
152

■

-

70*

■

55*- 50

86*- 86*
54*- 43*

73

-

72

74
106

-

70*

-

73

-

-

95*

135

-131

134

47
-129

-165
-150

165
155

-165
-155

51*

48

47*

-

151
140
21

-

-

40*- 35*
70

-

72

42’--35* 36*- 33
75*- 75
-

34*- 32*

137**-i34* 136’’-i32

67*- 67*
95*- 92* 93*- 92*

93*- 90*

20-19
19 - 19
8-8
121 -120*'121 *-116

60*- 62*
82*- •74*
92 - •85*
■

149
- 139
20
-

157

-149

143^-140

155
145

-

■

154

-

143*

150
144

■

87’*-*87
-

73

54*- 45
76

-

73*

90

-

59X-51*

61*- 55*

73

75

-

72

120
48

59*- 46*

-

41
89*
47*

150
•143

105
78

94*- 92*
104*- 96*
92

125
47*- 47

125

-105
- 72

130

92

-

-

46*- 45

-

-124*

-125
92

Union Pacilic

26*

34

-

55*- 51*

27*- 24

52

-

74
24*- 17

73

-

25-25

50*

53*

53*- 50*
75

52*
78*- 78*

74*

-

-

90

48*- 45

-120

125
92

-120

46*

•

31*- 26*
71*- 70

-

-

■

-

-

•

■

120
46X- 44X 49
128 -128
90

-

■

•

-

-113
44*- 42*

117

117

35*- 32*
73*- 73

74*- 74

-

74

-

•

109*- 103*
92*- 89*
88*- 83*

-

46*- 43*

90

-

24* -22*

-

40* 43*- 42*

72

95
22

-

■

25*

-

113
43

-

100

34*-31* 33*- ’31*
75
73
74
74*
103 -103
-108
104*- 104
-106
78
154"-MO 144*--iio 106*’-’80
87"-•*76
-136
70*
153 -137
a5*- 72
85*- 80
93*- 92* 94*- 93*
95*- 92
94X- 92* 95*- 93* 97*--94* 96*- 92* 95 - 92* 95*- 93
108
93* 97*- 94* 97*- 95* 101*- 97* 102*- 100*
97*- 96* 104*- 96* 107X-100X 109*--106

-’28* 35X-'28X

709* *- -108
40*- 39*

-

■

-

-

30*

-80*

■

-

-

-

-

■

-

31*- 25*
70 - 68*

82

80

-

■

19* 17* 19 ■ 16*
no* -101*
HI* -109

-

-

-

26*- 23*

81

-

-

-

-

*'

North Missouri
Ohio A Mississippi....

-

64*- 59* 64*- 60* 62*- 58*
82 - 76
82*- 79* 82 - 79*
89* 92 - 91*
89*- 88* 93
115
115
115*-114* 114X- 114*
107*- 101* 110 -106* 109*- 108
97
91* 94*- 91* 93*- 91*
89*- 86* 88*- 86
92*- 87

-

-

-

-

•

-135

138

-117* 120*-118X 122*-120

65

-

77* 83*- 80
92
95,*--88*

-

-

“

-

91*- 88*
114* 110* 111* -102*
108* •105 106 • -102*

***** ****** 9*' <

-

-

81*

114*- 106* 110*-103* 106*- 97
120 -114* 114 -106*

*8"-"8

8

-119* 125X-123* 125*- -124* 120*-

-

"

-150
68
90*- 80

153

78

-

■

67*-’67

19

-

-

82

90

-

93*- 91*

68*
67*- •58*
82*- 74* 77X- 75*
pref... 88
Morris A Essex
87
90*- 88
89*- 88*
84* 87 12 A-119
120
120
-115
122 -117
New Jersey
114*- 114*
;
119 -115* 118*- 116 118 • -116
4‘
Central.... 101*. 92
104
102X- 100*
97* 104*- -101* 108X-101* U0X- 108 110X- -107* 109* 99
N. Y. C. So Hud. Riv.. 95*. 66
98*- 94* 98 - 91* 98*- 91* 101 x- 96X 102 -96* 100*. 90* 96*- 90*
scrip. 92* 81
96*- 92* 95*- 88* 94*- 88* 98 - 93* 96*--92* 96*- 85* 92*- 85*
155
-145
155
■151
150 - 144
159
-155
138 ■ -134* 143
149 -143
N. Y. So N. Haven
136* 146 • -140
143 - 140
149
■139
146 • -140
135
143 • -138
138 -134
152*--150
scrip. 135 -135 140
-71*
-85*

:i35*

138

95*- 88*

-

-

118*-117*

152*- -151

-112* 117*- 114

62

-

•

■

-

/Tv X**'

I

-120, /136

100*- 97* 102 - 88*
19
20*- 20
18* 20

-

126

142

-111

108*- 106* 114
113*- 108* 117

90*- •90* 90

96

86* 100*-

117

119

-

■
■

-

62

Long Island
“

110

95

Hudson, scrip....

“

-

-

173*-170

-175

27 - 22*
56-51
85-85

50*

-

3
5*- 4
4*
3*- 1*
111* 115*- -112* 117 -114* 116* 114

“

Han. So St. Joseph

Mil. A St.

-

•

112* 116*- -114
-112* 112*- 112* 114 -113*
-150
153
150
150
151*- -151
82 *• 80
83*- 81
82*- 79*
87*- 83* 89*- 85* 90* 87*
114* -112* 117*- •112* 117* -109
110
-103* 107*- ■104
107*- -104
80 ■ 78* 80 - 79
81* 79*
18*- 17
19* 17
18* 17
105 - ■100* 109* -104*
106*- -105
-100
100 - -100
101
101* -100
23* 22
24* -21* 23*- 22
47 • 45
48*- 44
49*- 45
135 • -130* 134 - -130* 136 • -133
133*- •133*

118
113

-118

85
3

-

5*-

55

165
150

■

-

-

3*-

•

-144

■

25

-

58*- 56
87

-

-

-

25

-30*

60

3*
5*ex¬ 4
6* ’7*- -'*3*
in
-113*
149
115*- -111
109* 115 -110
116
-113*
150 - 110* 115 ■ -109
114*- -113
109 • -105
107 - -106* 110*- -107
147 ■ -145* 158
-154*
159*- 154 150 -147
74 • 69* #>x- 70* 83*- 79
74*- 69
88*- 81* 92 - -82* 92*- 88*
90*- 86
123*- 118* 120*- -118 123* -115* 126 -116*
103
91* 100* 97 107*- -98* 109*- -105*
79* 74
79*- 79
75*- 73* 74*- 74
20 ■ 17* 20 • 17*
20*- 18* 20*- 17
111 • -102* 112* -110
106
-104
104* -102
110*- ■108* 110* -105* 108* -106* 108 ■ -104
28*- 34* 26* 24* 25*- -23* 24*- -23*
46
50 • -47* 50
52 ■ 42
45*- 40
148 ■ -138
146 ■ -141* 149* -141
■133
150
8*-

31

35-85

35*

65

30-27

-

47*
73

9

18*-

Share List.

American

35

Cumberland

36*- 24*
215

Pennsylvania

-

35

-215

40

-

-225

230

37-35

37

35* - 32*

31*- 28
217

-217

32*- 28*
225

-220

Consolidated
Wiikesbarre

Maryland..

45
228

-

32*

-225

28*- 25*
65

-

40
-225
26

40
225
29

-

51

-

26*- 26*

30*- 26 X
70

65

;

-222

222

-

68

68

-

26*- 26*

68

28’’-*25*

24

”-

24

27’‘-'25

31

40

Spring Mountain

-

40

3— Gas Share List.

Citizens
Manhattan

162

.

-160
235

-235

4—Minify Share List.
9*- 8*

Mariposa

pref

19 X-

15

“

“

-

7*- 6*
9*
19*! 20*- 10

8-6*
16*- 12

9*- 7*
18X- 14

49
42
-43*! 52*- 45
46*- 43
I 49X- 49*!
46*- 46*
15X- 12* 12*- 8* 10*- 8X 10*- 9
12*
16*- 16* 18

51

Mariposa 10s certif....
1st pref
Quicksilver

10*22*

-

7-7

17*- 15
41

-

40

7 X- 5*
16 - 10 1

4*
7

5X10*-

37

44*- 39

4*

5*12

8

-

-

37

4* 7*- 4*
UX- 8*
8

4*! 11*-

34

5*-

9*

30-80

5

35

6

11

•

15*- 13*

pref

00 £

s5

7*-

12*-

-

4*

5*-

4*

5*-

4*

5*-

5

5-5

9-9

9

5—Land Improv. Co.
Boston Water Power.,
Brunswick City Land.
Canton Co

56*-'51*

18*- 15* 17X- 17* 17*- 16* 18*- 17
16*- 16*
8X- 8
8*- 8*
69 - 67
09X- 56* 66 *-'58* 73 - 64* 73 - 67

36

37*- 84

18X- 14*

15

15*- 15*
70-64

62-60

64*- 62

-

15

69*- 66

19*- 17*
8*- 7

20-19

70-68

G8

7-7
-

64*

Telegraph.
Western Union

-

31*

34*- 31

35*- 31* 35

33*- 30*

-

33* W*- 33*

37*- as* 43*- SC* 43*- 89* 46*- 42*

7—St. Ship Shares.
Atlantic Mail.
Pacific Mail...

27-23

25-25

27

-

23* 29*- 25

31 - 20
36*- 29* 30*- 30
44*- 37* 40*- 38
45*- 40

44X- 38*

44X- S8X

38*- 32*
64*- 60*

33*- 36* 38*- 37* 39 - 37* 44*- 38* 47*- 43
63
69 - 63*
65
62
63 - 60* 63*- 60* 68

88X- 30*

25

-

24-24

25

43*- 37* 46*- 41*

43

-

42*- 40* 44*- 42
45*- 42* 44-40
69
64* 69 - 64* 67*- 65* 67*- 66*

47
68

-

40*

43*- 3S*

8 -Express Shares.
American Mcr. Union.
Adams.
Merchants Union
United States
Wells Fargo
“

56
21

scrip...

-

-

-

-

49* 53X-’49*
19*
19* 22
-

-

15*- 15*
45
42*- 33* 37*- as
47*- 43* 44*- 40
49*- 43* 46
46* 47*- 41
17
21
40*- 37
15* 16*- 13* 14*- 12* 42*- 13
19*i 18 - 14
21*- 20
3 - 2*
3-3
2*- 2* 2*- 3*
3X- 2* 3*- 2*
52

-

-

-

-

-

43* 46*- 45*
64* 65*- 63*

36*- 33* 35*- 32
37 - aax 34 - 30*
2*- 2
2*- 2*

Miscellaneous.

£el. & Hud. Canal

125

Rankers A Brokers as. 110

Building Material
United States Trans. Co




-120
^101

122
113
145

-119* 120
-110* 113
-145

125

-115*
-112

-123

127

‘-iio

121*-118*

123

-121* 121*-118* 122

-120

••••••••

*

no

-119

Ul*-lll*110*-107
*

•••••••*

*•••••••

••••••••

•

••••••

121

-119

'T'-l-

RAILROAD AND MISCELLANEOUS STOCKS.
■

1871.

1—Railrod

The-stock of the Erie Railway was
heavily increased in the four years ending September 30. 1871, by the Fisk & Gould
management, so that- it stood at $8G,53G,910, against $25,111,210 in 1867.
The price fyll in March to 18$, th« lowest
since 1861.
The Chicago fire (Oct. 9) caused a
point, touched
panic iu stocks and general business. The column for October in the table
below
shows the extent of fluctuations on some of the

leading stocks, as loliows : New York Central & Hudson.
9-$-84$; Chicago &
Northwest., 70$-5l£; do. pref., 91-83; Rock Island, 110$—94; Erie, 32$—26|; Lake Shore &
Michigan Southern, 107$-90$; Milwaukee
& St. Paul, 63-51; do. pref., 81f-72; Ohio &
Mississippi, 43$-34$; Union Pacific, 28-20$. It is seldom that a local calami y in a
distant from our market has had so remarkable an effect
city
upon stocks.
W. D. Torrance, son-in-law of Commodore
elected president of Ohio &
Vandvrbilt,
Mississippi Railroad (February), which caused a rise in that company's stock from 27
(January) to 55$
(Apiii); hut price retrograded (October) to 34$. Panama (July) began to ascend,
reaching 75 in September; paid 5 per cent, and
afterwards percent quarterly.
The Cleveland & Pittsburgh Railroad was leased to
Pennsylvania Railroad Company at 10 per
cent on capital, afterwards converted
by increase into a 7 per cent guaranteed stock. Express stocks rose
largely in market value.
Canton (March) reaches 85. Delaware & Hudson Canal
(June), 125. Pennsylvania Coal (February), 224. The “Woodward Corner"
in Chicago & Rock Island, which forced the
price up to 130$ in June, was a failure, and resulted disastrously
to those
the manoeuvre.
Lake Shore & Michigan Southern
Company (July 27) authorized a new issue equal to 40 per cent of its engaged in
stock then
outstanding, and allotted the same to shareholders on the payment of one-third of the
par value of the new stock in cash; the
payments being made in instalments running up to August, 1872.

25—SG'>o9

e

STOCKS.

January.

Shares.
Alton & Terre Haute.

February.

March.

33%-

“

prof,..

58
89

Albany & Susqueh’na.

April.

May.

June.

•29% 33%-

-

-

54
87

60
90

29
56
95
37

-

Atlantic & Pac., pref
36%Boston, llart. «fc Erie. '2%- l3^ 2%- 1% 2%*i% 2%Chicago <fc Alton
1 G
-114
H8%- 112% 119*- 113 120%119
-115
*

*

“

pref.

m

-

115%

-

-

-

-

•

121

150
74

160
89

116
151

-

•

-

-

121
153

-

100%--104%
Cleve., Col., Cin.&Iud 88
82
Col., Chic. & I. Cent.. 18%- 17%
Boh, Lack
West... 104%--103%
Dubuque & Sioux C
90%- 80
Erielt. W
23%- *1%
pref
47%- 46%
Ilarlein
133
-130%
...

-

-

-

-

..

-

“

-

*

77% 92%-

-

pref

109%- 10:!% H8%- 10.%
86%- 82
88%- 83%
18%- 17% 24%- 18%
■1<i2
105%107%- ■104%
90%- 86% 89
84
23% 21% 22%- 18%
■

•

■

•

-

■

46

-

•

44

131%- 122%

-

46
135

•

-

44

126%

-

Chicago

91

-

“

60

Marietta & Cin., 1st..

-

20

2d..

Michigan Central
pref.

-

“

“

scrip.

60

60

pref,.

P-nama
Pitts., Ft. W. & Chic.

Reading

Reuss.

95%
91

-

pref.

120 -118% Il!t%-I12
122%-122 J 114%-U4%|

-113% 118 -110
120%-120%
133 -125 1 i29%-125% 129%-127%
74% - 67% 1 70%- 51% 63
59% 69%-r 60%
91%- 89% 91
83
91 %- 88% 92%- 86%
113 -107% no%- 94
101%- t9%| 108%-lt 2%
125 -118
126%-112 12* -122% 129 -125%
94 %- 88
85 %- 82% 90
89%- 81
86
22%- 19% 23%- 15% 19%- 17% 19%- 18%
111%-103% lk%-105% 110 -105% 109%-BU%
88
87
140

-134

60-58

123%-125% 131%-128

-

-

-

-

-

10
90
57

-

66

132%-1?8

26%

31H- 28%

60

-

70

131%-119

-135

-

-

-

-

61

124%-118

-

-

-

-

72

33%- 30%
69%- 64
122 -117%

-

-

-

-

-

-

-

60

•70%-170%
160 -160
161 -161
84
100%- 79
67% 75%- 68% 78
60% &4
50
55
51% 69
49%
100
88 - 77% 88
81
84%
88
71% 76
65% 76%- 74% 67
58%
138 -136
139 -132
131%-132% 137%-134
137 -1:33
135%-132
133%-133%

92%- 92%
60

75

*32%-

29%

-

65

60

...
_

61

-

61

93% - 89%

■

•

•

•

-

-

147

-

147
137

95%-

93

-140% 1150

148
-135 1141
139
45% 52% 47

43% - 41% 55%
77
73% 80
75
70
71%

99%- 96**
93% - 91%

160
150

-157 '
-150

46%- 42%
73 %- 71%
79
73% 83%- 79% 78 -77
63
72%- 63
51
54
43
49% 53
92% 96
95 kf UK)
91% 93
97% Q’3A 99
100%- 93%
97
99%- 97% 103%- 99% Ul%-103% 119%118%-108%
92
-

-

-

-

•7

93-93

-123
-

97%

91

97%

'54%-

47%
62

-

48%

126
62

-125
-

51%

125% -125

62

i25%-125%

ii2%-405%

•

126

-126

62%- 60

ei*

-

go*

-

*97%- 95** *9 »%-

93
155
140

96%

9 % 95%- 92%
-155
153 -15:3
-140
140 -140
-

7i%-

162%- 9i%

94%- 84%
88%- 80

%%- 87%

155

47%- 42% 40%- 44%
78
7*%- 77% 79

*47%- 41*

52

75
102

-

-

50

74

53

-

100%- 99

100%- 99
113%-110% 115% 113
116

-116

60%- 59

115 -115
59-53

-145

*43%-

79%- 78

78

92%- 89%
88
84%
-

145
138

72

77
60

60

63%- 55
99% 100%—96

-

110
59

-

57%

75
55

-

95%- 91%

‘.M)%~ 80%

145

-145

*46%- 4i"
75
71

-

73%

-

56

97%- 95% 98 - 95%
U4%-107% 115%-110%

116%-112% 114%-100
102%-10!% 102 -101
59%- 59

-145
-137

34% 43%- 37

-

-110
59

110

-110
61

61

-

-

*60%-

59%

65—65

92
.....

53%- 48
55% - 51% 53 %- 54
7ti%- 76%
80
78
24
11% 27%- 17% 32% - 24
-

-

66
81

-

80

35%- 25%

shin Shares.

Atlantic Mail
Pacitic Mail

20

3—T !< <j mph.

Western Union

-

39
24

Consolidated

-

Pennsylvania

30

23%

Wilkesb arre

Maryland
Spring Mountain.,..

‘

1

-

79%

37%- 32%

-

56%

-

82

-

74%- 72%
61 %- 57%
82

■

68

61%

-

82

28% 31%- 26

'34

52%- 45%

59%- 51%

61 %-

40
30
24
224

-

35

29
- 21
-221
-

47
36

-

29%

-

34

57%

39%- 24
221

-220

52%- 40
35

-

33

39%- 36
223

-221

C0%- 57%
65
35

-

40

47

-43

3r%- 30

-

51
32

48%- 38

68*
40

'

75% 75%
68%- 60 *

26%

-

65

63%- 52
84

43%- 39% 4G%- 42% 46% - 42% 49%- 42% 48%- 44% 47%- 40%
46%- 42% 53%- 46
47%- 44

American
Cumberland

G5%- 63

64
82
34

-

58*'

37%- 30
60

-

55

61

-

55%

67 - 50
50 - 34
54 - 36
221 -221
66 - 65
41 - 30
85-63

Share List.

Manhattan

34% - 2G% *6%- 20%

255

5S%- 49%

59

-

55% 62%- 57% 69%- 62%

*42*

-

40**

52%- 40%

43
223

-

35%

-223

34
74

-

-

30
70

58
41
43
220

-

59
41

57

-

pref

10

-

lOscertif..

Quicksilver
“

5
6%8% 10%30

11%15

Adams

G7%- 64% 71

Express

American
Am. Merchants1 Un..
United States Express

25

5
14%- 10
7% 20 - 14%

pref....
•7—Erjress S’>are Lis’.

-

-

7-6
5
8% U%- 9%
22
15
21

-

-

22

14

-

16

20

-

7-7
48
46%
53 - 45

49
43
4.3%- 42
42%- 33% 54 -41%
Weils, Fargo Express. 40%- 35
42%- 39
43% 40
scrip. 21/- 91/ 2
/8
4,8
1% 2
U*
P—Tard Trrrp'rrit Os.
Boston Water Power.. 24
19% 26
23^ 35
28%
Brunswick City I,and.
7-7
7%- 7% 8%- 7%
Canton Co
72-68
75
7i% 86
74%
Cary Iniprovein’t Co..
“

-

-

9— \tiseel art eous.
Dei.. <te hud Canal..
Binkers1 & Brokers1.,
U. Stales Trust Co

-

-

-

-

6%
9%

30-25

10%

-65% 74%- 69%
-

7%12% -

83

-

37% 45%- 40% *47*
2:0

30%- 30

33
86

-

-43

117

198

-

23%

62%

*29%-

26%

71

-220
-

220

30

74%

-

11%
18

73%

.59%- 47%
59%- 46%

5%- 5
11% - 7%

13%-

iij

48%- 44% 54.!^- 4C%

48
41

37%

-220

31 %- 21%
88 - 60

26
68

218
5-4

4%- 3%

8%-

7

23

-

6
23

13%- 11
21%- 19%

-

5%

3%7%-

!

1%2%-

1
1%

-

45

-

40

44%- 41
220

-255

-

20%

-

65

-24S

82%- 80% 82 -80

85

-

59%- 51

57% - 53
56% - 51%

00

-

55

49

-

45

2%-

2

27 - 22
65-65

248

-

-115
- 99

117

-1‘5

'

-248

£6><- 23%
30%- 28%

82%- 80%

44 - 42
2-2

40
37

-217

2%

-

24

-

16

-

13%-11%
13% 19%- 16
2T%- 17%
19% 25%- 21% 26%- 29% 34
24%

21

-

49
44

i%- *i%

24

18

12%- 12
20%- 19

21

46%- 42%

1%- 1
2-1%

*5%

6%-

25-23

54
54 %53 -

-

81% 88

52^ 59)4- .«%
53
53% 57
41% 53-46
2%- 8%
2%- 2%
-

-

-

84% 87%- 80 ‘

60%- 57
59%- 55%
57%- 51
2%- 2%

87%- 84% 91%- 86%
60

-

59

57%- 51
59%- 48
52%- 49

58% 61%- 57%

-

56%

06

-

57

57%- 52% 5S%- 56%

2-2

^2 ic
|

,

,

mm

9%- 9%
85%- 82%
14

-

9%- 9
83%- 79

13

79%.

99%- 99% 100

-

-

-

122 k'-117

72

52% 69%- 60% 71%- 66%

45

-220

74

-

56

53

45

67

S'icre List,
5%-

58%

-

83

-

20

Share List.




57

-

93%-

•

92
“

‘

53

91%- 91%

_

Union Pacific

11

55

IS

-

54

•

Sout!i Side

“

-

-

m"
*2%- ’2“ **3%I *2* *3%- *2%
117

93%- 88%

2

_

Toh, Wab., & West...

Mariposa

-

18
54

■

Stonington

6— Mi i g

-120
-125
-133

27

-

9

-

90%
-86% 93%- 8-i% 96% - 91%
-

72%73%91%100%-

92
Saratog i
Rome, W. A- Ogdensb. 125
St. Louis & Iron Mt.. 48
Sixth Avenue
Second Avenue

a1

125
125
146
72

*2% *‘3%-

27

8 %- 81 %
24 ^ 24
22 - 22
9-9
9-9
122%- 117% 123%- 121% 125 -123 126 -120% 121 -12» 121 -120
120% 119
120 -114
122 -116
120 -i:s ‘
52% 62%- 53% 64%- 59% 63 - 61% 62%58% 61 %- 57% 63%- 60% 64 %- 61 % 63 - 51
59 - 53
73% | 80%- 74% 84 - ■73% 82 %- 81
55%- :0%
81 %- 76
81 - 78 % 82 %- 80
84 - 80% 81 %- 72
79%- 77% 80%- 76%
83% 91 - 89% 93 - 91
94%- 93
95%- 91% 93% - 92% 94%- 92% 95%- 93% 94%90% 96%- 94% 96%- 92%
30 - 3 >
30 - 30
119 - 113
U8%- 117
130 -126% 129 -123
U8%- 118
125 -125
130 -130
12l%-120
10?%- 103% 10T%- 105% 109%- 105%
132%jl32%
114%-107% 112 -109%
103%-105% 115 -103 114%-100 113 -105% 112 -110%
81 - 81
71 - 71
71 - 71
104 -104
2 - 71
70
97 - 93% 99%- 94% 103% 94% 101 -

31%

<®

4— Co rl

60

-

25
61

-

9

“

“

163
■

■

-

93%- 93%

135

87% 105%107%- 95% 105%n 36%- 134% 137 -

-152

93

86%

134%-125

-

-

-

57

-

10
92
57

153
74

-

-

-

-

-l'O

61

-

3*

-

57%

07%- 93% 103%- •96% H2%- 99% 115%--107%
116%-106% 110% 107% 112%-108% 106%-105% 107%- 90% 104%- 85%
30% - 25
’30’ 26
82%- ,7
30-26

N. Y. & New Haven..
141% -114% 143
142%1148
“
scrip. 136 '■ -132 i 1:3:# - •137% 140
Ohio & Mississippi...
36%- 27% 41 %“

-

22%46
135

-

26

-

•

Morris & Essex
Misa., Ivans. «& Texas.
New Jersey R.It
123
-119
New J rsey Central...
105% -100
Now Jersey Land scrip 80
80

N Jersey LM Imp Co.
N. Y. Cea. & llud. it.

-

f-li5% 113%-li7%

& St. Paul
“

85

93
35

-

25-25
60
93

....

November December

_

ecrip.

“

-

106

91

L. Shore <5b Mich. So..

“

36

93
35

August. September October.

- 68%
67%
92%- 87% 92%- 91%
130%-107% 108% 106 112 -107%
122%-115
121%-116% 12*%-117%
89%- 88
91 -86%
90%- 86
23%- 19% 20%- 18
20%- 19 O'.
110 -104% 109%-105% 109%-108%
92
83
90%- 90% s7 - 87
31 %- 26
29%- 27% 3’.%- 23% 35

91%24%110%-

169*

-

-

Milwaukee

93%

-

99

•

“

Long Island

12-<

-

....

86%- 72

■

•

Hartford & N. Haven
Hannibal & St. Joseph 05
77
89
82% 96%prof 106%- 88% «.9%- 95
104%Illinois Central
139%-133% 135 - 133
135
Inch, Cin. & Lafayette

**

29
56

-

153

-

•

Joliet &

-

3%- 2%
3%- 2
120 -119% 123 -120
123%-123% 125 -124

pref. «o%- 81% 88%- •84% 97%- 86%
Chicago & Rock Island 108%--104 109%- 106 115% 109 100%115%Cleveland & Pitts.

‘k

-

July.

•

-

Chicago, Bnr.&Quincy 153 -152 155
Chicago & Northwest. 76%- 69% 7S%-

“

«

1

120

-r.16% 124% 121
110

125

-124

-110

78* *

8%- 8%

9

*8l%124
SI

-

75

78

-

6%

6-6

SI

67

*72*

72%- 69

123%-119

120

-118%

-120% 123
-

-118

124

-118

125

....
....

-

-

....

-

72**

a

.

»

•

•

•

"

.

•

-

.

..

-12J

75

RAILROAD AND MISCELLANEOUS STOCKS.
1872.

market worked very closely during most of the year, except from. May to September, and at times reached very
high figures, interfering seriously with stock operations. James Fisk, Jr., was shot in January. The month of March witnessed
the Erie “ revolution,” with the overthrow of the old board of directors and the resignation of Jay Gouid as president of the
company.
Dealings in the stock were subsequently to that time of enormous extent, and the price advanced from 30 (Feb.) to ?5£
(May). ‘Philadelphia & Reading stock was‘truck from the Stock Exchange list in March, the company refusing compliance with
the requirement of registry in New York City.
In June the sales of Pacific Mail stock were very large. The law passed for
reduction of the capital stock from $20,000,000 to $10,000,000, and the increase by Congress of the company’s subsidy to $1,000,000,
in consideration of doubling the service between China and San Francisco, were' important, influences causing this activity, and
also the annual election of the company, in regard to which there was some contest, although the former directors were elected by
a
large majority. In September, Erie stock had previous to the 17th been made very scarce, and was loaning at high rates from day
to day, in consequence of the heavy purchases of a leadiog speculator, who had thus “ cornered” a clique which had sold the
stock short to a very large amount.
For the purpose of compelling the ptrty who was carrying Erie to sell out, and at the same
time to harass the gold party, the clique then locked up money, and succeeded in making extravagant rates of interest, while
borrowers of gold also had to pay £ per cent a day for its use. That day (the 17tli ot September;, when money commanded
f per cent a day, gold -f per cent a day, and Erie stock as high as 2£ per cent, was remembered as the day of the “three
corners.”
The Boston fire (Nov. 11) caused considerable excitement and depression in stocks, but not to the same extent as the
Chicago fire, the losses being lighter and falling on men that could s*and them. The corner in Chicago & Northwestern in Novem¬
ber carried the stock from 77$ to 230.
This appears to have been the most successful corner since the Harlem game in 18G4. In
December, Jay G«*uld compromised a suit with the Erie Railway, by the restitution of property estimated to be worth about
$9,000,000. The general tone of the market was firm and improved at close of year.
The money

June.

May.

Aprel.

March.

J ANUARY. February

STOCKS.

JCLT.

2b

25-22

do pref.

£7

-

Alb’y & Susquehanna

93

-

57

55

92

do

123
122

Chic. & Alton

3*

...

-118
-122

75#- 66*
91*- 90*
112*-lb5*

Chic. & Northwest...
do
pref..
.

Chicago & Rock Is...
Cin., liain. & Dayton.

-

38*- 30

do

07

preferred

-

55

-

....

-

-

Hannibal & St. Jo...
do
do pref.

132
66

Lake Shore & M. S...

-

-

70

-

-

-

-130

....-

....

93
-132
74
-

....-

....

98#- 94*
94*- 91

....

.

22

-

22

22
11

...

-

-

.

—
-

93

-

64

-

....

...-

23

34
-115

....

97*- 94
93*- 91#
105 -105
27

16

-

14#

......

56#

....-

....-

-

76

-

-

73

....

119

-

76

-

-

76

75

I0f»#-106# 107 -106#
10S#-105
25
25
23* 32
27*- 18
10!*- 94# in]*- 96* 99*- 96#
95
94*- 91
89* 94*- 91
146 -145
143 -143
14'.#-145
-

-

-

138 -138
7-7

139*-138
—

.

.

47*- 43*

51*- 43*

5i*-

76

75

78

79

74

-

—

70

-

78-

91#- 95#

99#- 97

115#-lii*

Home & Watertown.. 98
Kjiiss. & Saratoga... 100

-

103
77

-ICO

65

-

-

a

>

99
-102# 105
- 65#
92

98*

98

-

...

99
-1( 3#
-

-

95

-

133

-m3

-

90

85

65

-

80

39#- 31*
76#- 75

aa*

.

....

....

95
133

-

130

-

37
41#- 34* 42
80 - 75* 80*- 77
-

95

30#

38 - 31#
56-50

*

129

-127

88'' 90"•

a

a

-122

....-

....

13

-

86*
....

93*- 86*
.

—-

42#- 39

Spring Mountain Coal
New Central Coal

Wilkesbarre Coal
Pacific Mail

•

*

*

*

‘

22
67

67*- 62

-

-

-

43
20
65

-

'

42
75

-

34*

45

-

65

75

42*- 37#
23*- 17*
62

-

62

-42
75
- 21

21

24#- 22
60

81*- 76

Quicksilver....

pref

Western Union Tel..
N. Y., Newf. & L. Tel
Adams Express
American M. Union..
United States.
..

Del. & Hud. Canal.
Brui^wick City Land
.

Manhattan Gas

Bankers’ & Bro. Assn
Boston Water Power

•

a

•

™

....

1#

-

....—

a •

•

a •

96*- 83#
#
1#*
4 *
*

-

3

«...

•

64#- 60#

84*- 79
2

Wells, Fargo Jb Co

52

60*- 56#
...

-

••a*

....*

•

•

• •

-119

12

-

6

....-

-223
•*"

• •

•

• •

•*

«

•

125

-

95#- 83#

96*- 93*

80

79

2'i

28#- 27

-

27

-

•

•

79

-

14#- 14#
•

....

....-

....

-

-

-

-

-

-

-

-

-

-

-

-

77

-

71

76

-

-

70

74

-

147

-144

-147

146' -146"
...—

.

93
28

98
25
90#- 89
-

-

-

70

100*- -10 *
27
25#
100#- 95#
-

-

-

...

....

....

....

....-

....

.

,

168

-169

164

164

-

....-

....

147

..

.

-

.

-145

•

9=*- 98

98

-

•96#

97

-

96

-

-

-125

-

94

-

■

...

-

95"- 95"

71#

....-

....

•

....

41#- 37# 40#- 36*
77

75

-

-

75.

38#- 37# 37*- 33#
76#- 74# 76#- 73

70
97
130

70
95
-130

•

•

74#- 74
55

-

124
94#- 92
-

•

98

-

94"

69*- 69

-

40

46#

-

94"

....

14

138

-

....

-

100

■

-

-

....

94

60

-

96*- 93'

95*'- 95*

■

141
49
56

54*

•

94

■

135

-

..

98

141

-

48*- 40
77#- 76
58

60

.

146

-121

142

129
148*-139* 144
96
92* 94*- 92

-

-

134

94*- 94
100

95
-107
-100

ii.3

123#-

106
90
68

-106
90
62
-

-

92
65

97
65

_

35*
74#- 68
-

_

40*- 37# 39#- 30# 38*- 30*
69
76
74*- 68
73#- 64
90
88#
-

-

•

•

•

a

•

24

•

-

25

-

25

30

-

30

46

24

-

50

46*- 41#
75

-

48

-

73
47

45#- 42*

44#- 43# 43*- 41# 42*i 40

73

70
42

-

70

-

...

21
23#- 21
55
52#

-

70
42

-

80

-

...

18

19

72

-

18

-

80
43
19
50

-

-

41

49

-

43

-

-

80

—
.

43
15
50

64#-

96

-

2*4*-

92

i#

2#

....—

....

a*

94

-

91*

2#-

2*

3*-

aaa.

•

•

•

....-

2#
....

....

•

•

*

*

•••

-

21

60

22 - i9
55-55

55*’

2c

..

-

60

48#- 46#
<

.

•

•

•

...

•

a

a*

••••

• •

•

•

210
92
•

•

....

-210
- 92
•

•

•

6-6
211 -210

30
102

-

25

-

93*

•

•

•

.

••"

a

a

a"*

•

a •

55
21
60
■
48*- 47
210 ■ -210

1*-

....-

3-2
....- 15
.

.

-

97

2#-

94#- 91

1#
2

2#-

..

2
••••

■

•

-

-

aaa*

•••**

-

r

-

••••

-

210

r

-

....

....“

■

-

-

-

-

...

-

-

-

.-

••••—

....

-

•

-

89* 71#
76#- 67# 103#- 73* 9*# 81
14* 12*
21#- 15
17#- 10
95
93
106#- 99# 107 ■ -101
89# 107
1#
2#- 1#
1#
2#- 1*
2
3 ■
2*
2#- 2* 4*- 2
4#
....-

....

*r

75

■

-

-

-

-210

47

-

.

44*- 36# 43*- 26# 42
34# 43#- 41# 43*- 40#
56
52*- 43# 53#- 51# 53#- 50
48# 54*- 39
77 -71# 71*- 73* 76*- 73* 76#- 74# 75*- 69#
82#- •82# a3 -82#
99#- 96* 99*- 96# P8
96* 98 - 97# 97#- 95#
•5#- 72
80*- 73* 79*- 73* 75
73# 74#- 70
79 -71* 8‘.#- 76
87*- S3
88#- S3
83*- 81*
85
93
88
S5*~ 77 1 95
87# 89
88#- 87
120 *-119 * 120#-119# 121#-119*
117
120 -118#
....9*- 6# 7 - 6#
211

-

48#
75
60
22
60

-

76#- 67* 78#- 73# 76#- 72*

-

69*- 61# 74*- 69
66*- 80# 67*- 63
75#- 65;.
G3
56* 74*- 62* 78*- 72
120 -119
24 -119# L20#-119

•

129

...

-

....

*

....-

.!!*

-17

17

17#- 17

18#- 15
-

30

'- 90* 99*- 92?

94

92*- 90
61#- 59

•

*

•

-

-

....

29#- 25* 36*- 29* 44#- 35*
39#- 32# 54-37
31*- 30
74#- 68# 72*- 68# 74 - 69

•

73
113

92

-

—

--

■

70#- 51#

■

80

....

47*- 47* 50
49*
76*- 61* 87#- 72
33#- 25# 38*- 26

aaa.

....—

....

—

6
23

-

117#-116# ii5"-ii5" lii’ -115* 115#- 113# 117 --114*
in;# 115
51
55*- 53
56*- 53* 56
57#- 53.
53* 58*- 53* 57
76#- 72# 77*- 75
80#- 74* 76#- 74
77*- 74
79#- 78
43 --41# 42*- 41
12#- 41
41*- 40* 43#- 41* 42#- 40
91
93
92#- 91# 94 -89#
91# 92
92#- 90
92# 93
124 -124
126#--126# lc6#-12# 127 -127
104 - 99# m -TO 7
104
98
108 -106* 106#-100
108#-TOT

2i4"-2i2* 215*"—2i5* 226" -220" 2i9"-219" 2i7#-2ii‘' 2i5* *-2i5 ’

3

-

49Vf- 34

•

25

...

....-

do «pref
do TrustlO^.ctfs
do Laud & M. Co.
do
do pref.

79

119

52#- 48

-

-

102#-101
77#- 77# 77#- 77#

•

’

....

Mariposa




46
42
23

59#- 53*

Atlantic Mail
Canton

•

35#- 28 ‘

80*

...

Pennsylvania Coal...

do

39#- 35#
52
45

-

9i"

62*- 51#

...

....

46
46
26

-

90

....

2tli*cePs 'tocks.
n.

■

■

-

....-

••••

-

-

-

-

81
80#- 80
26#- 25# 27

*

To!., Peoria & War..
Consolidated Coal
Cumb’nd Coal &Ir
American Coal
M ary laud Coal

96*

62
94

-

...

....

•

....

1

-

-

-

92
128

_

—

133

....—

....

98#- 96#

78

•

93

-

54#- 44

■

1 s8

64
99

.

-13)

38

-m3

-

li8"-li4#

c

88

-

.

...

123#-109#

....“

o~i
O
33*
8-# 89*- 8*#
•

-

..

..

26"

-

-

92*-

97*94*-

-

95
107
103

7*

•

91#- 88

105*-104* 105" -103# >03#-103
24
25
24
21
18
25
27#- 20
28#- 23
98*- 96# 98# 97# 99*- 95# 100*- 92# 96*- 91*
98#- 97#
98*- 94

-

-95

74* 100

87

91#- 88

.

.

75

-

_

—

9 >

-

-

61

Q5/_

•

36#-

-

•

....

39*- 28#
76#- 70*
87#- 86
88

-

,

115* -112*
97* lol*-100

64*- 59
....-

99

70

37*- 33#
9i

144#-142
44*- 41# 48*- 42*
46* 50*- 45# 47*- 43* 46#- 45# 45*- 42
75
79
78
75#- 74*
77
74# 75#- 74# 75#- 74
74# 75
90
95

5#

•

103
104#—103
96# 99*- 93#
47* 57#- 48
52*- 44# 54
47# 55
71
74#- 70# 74
«#- 68# 71#- 69
118 -114* 116 -109* 115#-110
116#- 111

..

73* 166"- so" 113*’-

80”- 72"

94

-

8#-

—

-

.

49#- 41*

-

r

-

-140

140

7

-110

36*- 33* 37*- 31#
9 '#- 87#
92#- 90
91#- 89
90*- 89

3rf#- 37
57#- 56

41#-

....

....-

...

—

76

95

94

•

27#

..

75

-

9*-

6*

•

....

....-

-

94

92

113 - If 8
m - 110
113 -109
113 - 113
113 - ■113
115 -111* 115 -114
20 -11S
138#-133* 135 - 130 138#- 137
132#-127# 135 -130
83*- 68# 230 - 77# 90 - 81#
75*-72# 74*- 70
90 - 84* li‘2 - 83# 9-#- S #
9!*- 89* 90*- 84
115#- ;i9
112*-169* 111 *-108# 112*-1U5* 111#- 101
113

-113

118

....-

-

75

-

7#-

....

96*- 95
93*- 91*

64#- 59#

...

94

6#

-

....

-137

28

-

....

-

....

30

....-

.

....

....-

140

-135

137

-

—

73

....

....-

-

—

-

-

-115* 120 -119#
58
52
61#- 57
78*- 77*
82#- 77* 82#- 79* 81 -78
44*- 35
...95
92#
96 - 92* 95*- 94
94* 96
126 -126
126#-126# 126 -125#
lll*-109# 110#-108 110#-108#
113#—111

118*-113

_

74

-

....-

44
S3

7*-

-135

39* 41*- 38
60
64#- 60# 60
45

....

14*- 11#
35
117

.

-

.

•

30

22
11

-

-

....

-133
- 72

134
72

135

-

•.....

98#- 91#
94 - 8b*

92*- 89*
88*- 86*

.

Warren....,'

....

....

-

93
133
74

....-

.

TuL, Wab. & West...
do
pref.

-

-

36* 47*- 39*
67*- 62
66#- 55
47

50#- 37*
67*- 59*

.

St. L. & Iron Moun..
St. L., K, C. A N. pref
Second Avenue.
Sixth Avenue
Union Pacific

-

....

fin#
74
70
74
70 - 70
108 *-105
H'5#
104 -102# 112#-10)
108#-107
109*-108
67#- 32* 72
60* 75*- 62# 66*- 50* 59#
33*- 30
87 - 82
62
62
84#- 78* 80
84#- 79
S3*- 60
122 -115# 121
129 -119
130 -112
117 -107* 115 -108

nn#-m
Michigan Central.... 118 -115
Milwaukee & St. P.. 59*- 53* 57*- 55
83 - 74# 78*- 74#
do
pref.
Mo. Kan. & Texas....
93 - 92#
93 - 92
Morris & Essex
1 6*-125
127 -127
New Jersey
do
Central., 113*-10S* 112 -110
do
Ld. Lnp. Co. 71*- 70* 75 - 72
do
scrip... .. 107 -102 106 -106
New Jersey Southern
N. Y. C. & II. R. stock 98*- 94# 98*- 96*
do
scrip 91*- 90* 94 - 92*
N. Y. & New Haven.. 143#-142
142*-140
do
scrip 135 -135 136 -136
North Missouri

speeiul

...

-

Memphis & Cha’ston.

Reading

....

....

...

-

Louisv. & Nashville.
Marietta & Cin., 1st.
do
do
2d.

-

....

-

135

-‘30
- 62

95*- 89*

do scrip.
Macon & Western..

-

-

106*-160*

89*- 8.*

do

guar

45

-

....-

Long Island

Pitts!, F.W. <& C.

'

22
45

-

92#- 92*

Joliet & Chicago
Illinois Centred

Panama

-

-

64

59*- 47*
71*- 64#

Hartford A N. Ilav..

Ohio & Mississippi..
do
pref.
Pacific of Missouri...

-

...

__

pref

N.Y.,N.II.& Hartford

22
48
96

-

118#-114

do

60
96

55

- 94#
92*- S2
96 94#- 94* 94#- 93#
94#- 93
8#- 7?
8*- 6*
9*- 3# 10*- 8* 11*- 7
4*- 3*
116
123 -117
117*-117 120#-117 117#-116* 117 -115 118
121 -121
m%- 120
123 -121
125 -119*
133 -131
134 -132
!30#-129# 131*113 -136
137 -134
75#- 70* ■?« *76# 85#- 78* 80*- 72
77*- 73* 84
96
90# 97*- 92* 91*- 92* 94*- 90* 91 y92*- 90
112 *-110* 117*-111# 118*-110# 116*-109* Ul*-U)8* 11**—
93
92#
38*- 32# wk23*- 21
26*- 22# 41*- 26* 42*- 35
91*- 90* 92
93#- 91* 93 - 91
92*- 90
92#- 90
95
93
92# 95# 91
89* 93 - 91
88*- 88
90*- 83
-

23#- 19#
Cleve. & Pittsburg... 129*- 69*
Cleve.,Col.Cm. & Ind 9U*- 88*
Dubuque & Sioux C.
Del., Lack & West.. 106 -103#
Col., Chic. & I ml. C...

Harlem

-

25-25

-

pref
Chic., Curl. & Quincy 1.1*-128#

Erie
d<r

66

55

25

•

4*-

23o8t’n,Hartf d & Erie
do

-

-

November Decejiber

October.

High.Low. High.Low. High.Low. H:gh.Low. High.Low.

High.Low. High.Low. High.Low. High.Low. High.Low. High.Low.
R. K. Stocks—
Alton & Terre Haute.

Septem’r.

August.

..

....

....—

....

....

-210
....

52*- 52*

49
44#- 41
42* 48 - 44
55*- 51# 59-54
57#- 52
72*- 67# 81*- 69# 80*- 72
-

-

•

,.

95#- 88* 95

—
-

.,

91*

95*’- 9l"
■

71
65# 71#- 67
71#82#- 74# 81*- 75
79#- 72
80
80#- 79
88#- 85
119 -116# 118 -115
115#
....5#- 5#
•

-

■

•

-

30

49#- 43
56#- 52*
82#- -75#
-

-

100
94
72
82
89
120

■
■
■

-

98

-92#
60#
-

■

-

-

79

-

■

85*
-116#

....

210

2i*r-210
-

49

.*•
-

.

..

49

.

•

•

48

201

-205
•

t

-

•

a

•

47# 55

-

65'

203#-200

76

RAILROAD AND MISCELLANEOUS STOCKS.
1873.

The money market continued
very stringent during the early part of the year, and about the 1st of
April almost a
in consequence, as rates for
carrying stocks were then quoted as high as £ to 1 per cent per diem. The Summer waspanic ensued
noted for a
decline of prices and the failure of a number of houses in Wall
street.
On the 20th of
September the Stock Exchange was closed
by order of the Executive Committee, in the height of the panic, and was not
opened again till the 30th of that month. The
extreme lowest prices in stocks,
however, were generally reached early in November, and from that time there
was a gradual
recovery up to the close of the year.
The Erie Railway (February) paid If, and
(August) 1 per cent; but the stock was not benefited
thereoy, and continued to decline to the end of the year, the sale price
(February) having risen to 63±, and (November) fallen so
low as 35f.
In March, Harlem was leased to the New York Central & Hudson River
Company at 8 per cent on stock. More

advantageous terms had been expected, and speculation carried the price
(April) to 140; but
quotation rapidly fell off. and Hecemher found it at 115. The Union Pacific was under a

the real facts being disclosed, that
cloud, in consequence of the Credit
investigation by Congress. Pacific Mail suffered greatly from the mismanagement of speculative parties who controlled
company.
The extreme range of stocks in the year being a matter of unusual
interest, the following table is given, showing
date of highest and lowest
prices:
ou

Mobilier
the
the

Lowest.

New York Central & Hudson River
Harlem
Brie
do

77# Nov.

preferred

...

do
preferred
Rock bland
St, Paul
do
preferred.
Atlantic & Pacific preferred...
Ohio & Mississippi
Central of New Jersey
Boston Hartford & Erie
Delaware Lackawanna & Western

5'i

Nov.

82

10

85
1

preferred

dan. 24
Jan. 29
Jrn. 24
June 7
Feb. 3

106

June

Maryland Coal

14

Mabch.

Amm.

May.

June.

6
1

5

130

Nov.

6
15
Nov. 3
N->v. 1
Oct.

41

f5
-.88

August.

Septem’r.

82
86
110

Jan. 6
Jan. 29
May 8
5S#. April 26
28
M’ch 17

28
31
Nov. 3

October.

1

Feb.

76# Feb. 7
100# Jan. 29
70# Jan. &

Oct.
Oct.

13

6

6
2

17-

Sept. 30

Jan.

94# Feb.
46# Jan.

44# Oct. 15
56
Sept. 30

,

July.

High.Low. High. Low. High. Low. High.Low. High. Low. High. Low

1

76

Wells, Fargo & Co

7

52# Feb. 7
71# Jan. 3
39# Jan. 4
43# Feb. 11

7

18

Canton
Consolidated Coal

„

Nov.

25
25

..

Highest.

7

16# Nov.
77# Nov.
43# Nov.

„

do
preferred
Pacific Mail
Adams Express.....
American Express
United States hxpress

April 21

,'ov.

14# Nov.

Quicksilver

62#
79*4
3-#
49#
1(6#
10#

1

15
21

.

Feb.
Feb.
1 17# Mch. 1!

Nov. If)
N10

79# Nov.

do

Union Pacific
Col. Chic. & I. C
Panama
Western Union Telegraph

Feb.

85
94

Nov. 15

21)4 Oct.

do

97# Feb.
75# Jan.

b

Lowest.

Hannibal & St. Joseph

60# Feb.

80S Oct. 14
21|4 Nov. 1
43# Nov. 7

January. February

STOCKS.

106# Feb.
140
April

56?4 Nov. 7
57*' Nov. 1
32# Oct. 15
31# Oct. 14

Lake Shore
Wabash.

Northwest....

Highest.

5

90
sept, if)
355/ ]£ov. 7

November Decembeb

Iigh.Low. High. Low. High.Low. High.Low. High.Low. nUh.Low,

IS. K. Sto *ks —
93

92#- 92
-

—

do

.

94#- 93#
2336

25

..

do

pref.
Atlan.
Pacific pref
post'n,llarLf d &Erii
t’hicago & Alton....
do

scrip

prof..

no.

38*

97
-116
-

Chic. <& Northwest... 84
80#
do
do
pief 92
8736
"Chic. & Rc'.k Island. 114 #-109#
Col.,Chic. &Ind. (Jen, 41#- 3634
Cleve. & Pitts., guar.. 90#- 89
-

-

CIeve.,Col.,Cin.ifcInd. 9334- 893a'
Del., Lack.
West... 101#- 93

Dubuque & SiouxC..
Erie
6634- 58#
do pref
80#- 77
Harlem
122#-114#
do
pref

Hanuibal& St.Joseph
do

do

pref.

Illinois Central.,
do

scrip.

Joliet & Chicago
Kansas Pacific
Lake Shore

'

1

•

•

““

•

•

100
119
120
85

Mil. & St. Paul
do
do
pref..

97

-

91J6

27,#

54#- 5136
7934- 763$

39#- 34
7536- 71#

Cumb’nd Coal & Iron.
American Coal

70
62

Maryland Coal

24#- 20

Atlantic Mail
Pacific Mail
Canton
Ccn. N. J. L. Im. Co.

63

-

63

69>6- 63
82

do
do
do

63

-

72

-

-

.....

-

Del. & Hudson Canal
New York Gas
Brunswick City Lam
Manhattan Gas
.tankers’ & Bro. Assi

ViJliamsburgh Gas..




li9#-U5"
.

....-

-

65

66
123

->-119#

60

-

—

.

-

-

-

“

...

74

-117# 118

72

-

131

■

-12236

124

....

.

37#- 32* ‘
54#- 54

......

118

-114

64#- 6i#
74#- 73#
•

•

42-35

....

;;;;

•

•

9736- 90

9036 - 9136

75

-

..-

79
24
12

26

-

26

-

....

79
24
12

-

lii -307# 108#-105
51#793640#91#-

51#

OO74- 52

73#

76#- 73

•

-113#

105

•"*

36#- 33
74#- 7134

3536- 3336
7436- 7136

87

-

61#- 57,
2436- 23
45
230

-

57#- 51#

75

42#

-215

98

90

-

62#- 55
-23
- 59

28
62

-225

...

-

....

#2

-

#
1

22#- 15?6
30

-

30

46#- 43#
57

-

....

55

-

9436- 8336 903699#- 94# 95#68J6- 66
09#76
78*6- 70
85#- 85# 8534-

........-

....

..

105

\-U8# 123
T

40
50

35
- 90
-120

-

....

....-

....

—-

....

....-

...

.

•

•

22
11

22
11

....-

30

94-92

-

•

95

...

-

■

-

5u#- 49

30

47

4?

-

-

71

-

/

...

9036- 85
55

-

55

95

....—

..-

.

.

•

“

.

98#- 90
6434- 40
81#- 64
16836- 86
31#- 19
87
7936
-

85-78

71

98

-

-

80*

•

-

40

.

62*6- 60
25# - 23
60#- 60#
-

228

-225

3-3

61#- 53
9236- 90
58-58

...

....-

78

-

...

....

.

......

-

95#- 92#

-

93
•

•

....

22

.

53

-'#- S2
•

28
86

-

■

-

23

•

•

■

55

-

•

-

67#

-

50
47

-

50

-

no
25

.-

16

99
90

98#

93
85

-

-

85

....

-

-

1*1

28#- 23#
37#- 34

35#- 21

92

....-

121

-110
15

-

24

73

-

.r"

79

98

85

....

.

..

....

22
11

22
11

-

•...-

....

* • • •

...-

79

51

74

35#- 2234

7036- 5d

70

-

30

65

-

9236- 91#
123 *,-123#

103#-102#
28

27

70

69

-

70

-

72

72

-

70
40

*

90
- 90
103 -103
87 - 83
70 - 70
42-42

85

-

1

1

-

91#- 91
-

.

.

102
23

91#

-

84
-114

88
115
95

-

86

-

-

70
45

63*

70
45

-

-

50’’

-

30

80
81

-

01

-

70

58

-

-

91 - 83
115 -115
95 - 85
6-6

104

-

87#

-

6!)

-

70
47

42#

-100

....-

70
44

-

103

77#- 72
42#- 34#
60#- 58#

99

65
21

-

60

58

29
73

-

-

21

31
145

-

2536
6734

-

...

99
60

27#- 16
70#- 38#

4

-

88

102

95
6

9

99#

90#
121

31#- 25#
-

80

58#- 56
31#- 23
87
90

-

88#

-

76

....-

...

53#- 53#

-

65

24#- 24

-

"!!- !...

83

79
66

2436- 15

18

•

.

250
1

\

1

-

1

45#- 3634

34#

-

99# 102

-

....-

66

-

....-

98
60

....

-

38

15

47-38

i5

-

.

13
....

.

-240

...

246

50#- 46#

19#- 17
- 39#

40

....

-240

#-

.

37#- 25

as#- 25

80

99-70
-

!!!!- !!!!

-

4436- 31
65

„

250

I

-

57#- 49
35#- 29

—

,,,,

-250

-

-

40#- 40

...

.

50
21
-145
-

-

68

-

95

-

...

47

-

-

2136- 1534 26#- 1434 32#- 24#
45#
49#- 3234 49#- 33# 55
55
55
71#- 71#

79
66

1

27#
77#

.

54#- 40

40
104

50

_
.

70
44

55-54

62#
2436- 22

-

93

81

8934- 79#

94

-

5334- 54#
-

-

.

-104

83

66

'-

61
35
89

_

...

104
88

84M- 84#

i#-

1

41#- 35#

-

65

76

.-

83*- 83*’

25
-

-

-

85

i

5736- 3934
110
93#

53*’- 50*

3634- 21#
60
43#

60-44

47#- 35
4834- 46
32
11734-HO
116#-113 11736- 84
100
9336 9334- 03# 94#- 93# 9436- 9336 90

...

30

81

2*34 17#- 15
100# 10534-10134 10534-10336 105#- 89
9536- 8036 02#- 7736
138 -136
138 -134
132#
136# 135# 130 -116# 125 -112#
36# 4136 38# 40#- 3£«
39#- 2634 30#- 21# 27 - 21#

243s- 23

52
42
-225

...

•••«

...—

...

9034- 80
-

"*

....

95#- 91
5334- 5036

5336- 5034
74#- 72#

7334- 57# 77#- 70#

57#

-

....

«...

....-

28 '- 26

-

-

-

94#
57#- 47
73 34 - 67#

4

62*- 60*

-64

25#- 23

58

3136

-

-

-

1

-

-104

-

79#
75
69#- 65
71#
95?6- 79# 104#- 94#

5836

-

...

90# 9236- 01
12134-121
105# 10534-102

54#- 49#

5736- 54#

58
55
230

50
70

-

55

30

is"- is"

!.!!

....

64

104
96

90

96#- 8036 94#- m
2436- 16# 24
16#
83#- 73
80#- 67

„60

....-

-

94-78

93#- 80

-

....

28#- 22
2936- 24#
6936- 64# 73#- 68

3234- 25#
7036- 0734

96

.

54

-

85

-

9334- 8136
4536- 31#

_

58#- 5334

-

9d

—

3136- 25
72J6- 67

95

15#- 10
3#- 1#
102#- 99

1

.

....-

....

-

.

...

89-85
•

.

10

-

36-

94-85

....

-100# IOO34- 86

-

106*‘-102”

105 ' -104#

-

Id

1#

-

5934- 5034 53#- 44#
a7# 47#- 42*
73#- 66
7034- 64# 0734- 5634 71
71
13336-130# 130#- 90
117#-1G0
115#- 99# 122#- 115

95#- 00#

27

42

>6-102# 11734-109
9334- 91# 9334- 92#
..

*

-

-

11 *2

.

16#- 12#

26
42#- 36# 39#- 36
37#- 19
60 - 54# 54#- 52
50
33
35#110#-106 169 -106
105#-1U3# 100
102 -100# 100 -10J
98#-

22

-

55#- 49#
73#- 7U#

75#- 71

....

16-8

26’’- 26" 31#- 24#

25

73#- 72

9636- 0136

22
11
10536-103# 102#- 96
-

75#- 73#

....-

-125
-133

134
133

u,t-

-

....-

65#- 58
73#- 72

..

10634-102
38
27
3536- 30
10236- 97# 102#- 9936
139 -135# 140 -137#
45#- 4036 44#- 4036

.«...

......

1#- 1#
14#- 13

83
94
95f6- 9234
69
66
65#
72# 76
7136
78
80# SI

1
15

31
41
50

-

-

1

1

-

11#

4i#- 38* * 39#- 37
50#- 49#
86#- 81#
94#- 94

8836- &4
96
69

-

10

12#
27
36
47

-

93
67

68

48
95

8034- 80

82

77

•

.

—

HO -1405-5

...

...

-

73

148

-

-147

-

219
....—

6536

120* -lii#

li5#-li2* ii7#-ii4#

•

-

-

72#

80

48

94#
01#- 61

-

.*"

-

93#- 8436

63#
71#- 71
-

.

.

.

60-55

63

-

55

42
70

-

-

#
31#
57

60-60

-

....

#

10#- 10#

74#- 70

-

•

#-

#

-

-

-

..

•

-

...

84

-

62
62

5-1

-

....—

102#- 96

5036- 50
87#- 77#

-117

-

....

22
11

-

40#- 38

..

....

94#- 90j

8936

-

...

7k

...

-

.

58

....-

-103#
6234- 53
5836- 53#
7536- 6834 74
71#

36
92
120

85

-

....

....-

....

-

#

124

93

....

....

-

45
54

•

-

86

...

-

...-

1#- 1
1634- 14#
.

•

....-

....-

4636- 44#
230

•

9336- 88#

!.!!-

5336- 48

•

35

-

94**- 94**

..-

-

-

-

■

-

6536- 59#

,

..

—

.-

...

ni#-m#
106
9834
69#- 64
83#- 82
11034-1 us#
3236- 30
8936- 8636

...

-

-

-120

...

.

.

:io#-2io

-

...

•

-

45#- 37

4534- 40

-

...

140

-

#

236- 2
L. & M. Co. 25 -16#
'
do pref: 32
27#
Quicksilver
46#- 43#
do
pref
5636- 53
Western Union Tel.. 85#- 78#
Adams Express
UX)#- 9134
American Express..
70#- 68#
United States Ex
82
7536
Wells.FargoJb Co.Ex. 86 - 85
do
do scrip

99

-

109#-107

6634- 63#
75#- 73

-165

138

—

7#- 5
4*6- 3#
7636- 55# 62 - 49
10236-10036 102 -100
102#- 93#
-

...

....

13036-118# 139#-127

GO

pref

99

98
112#- -112
-

-

—

6634- 62#
7936- 74

78

-

i.3#- 5
75#- 69#
1

Mariposa

TT CO
70
54

4736- 43#

-

98

-

"!

72

....-

-109

-

Union Pacific
Tol., Wab. & West...
do
do
pref.
Tol., Peoria & War..
Warren
I?li*Ce|5* Stock*.
Consolidated Coal...

Pennuylvania Coal...

-

■

63

.

Sprinjj Mount. Coal..

111

98

-

-

.,

New Central Coal....

113#-112

-

.

-

9b

-

-

60

97

-

92#- 92#

25# 26#- 16
234- 2#
234- 1#
110 -10434 10434-100

-

-

—

-

97

93

-

30

-

-

73"

-

22

-

-

97

-

Mo., Kan. & Texas.. 40 - 40
38
38 - 35
Morris & Essex
92 - 89#
91
9136- 90#
New Jersey
J21#-121#
do
Central.., 105*6- 99# 106 -102
104 #-103
do
Southern. 26 - 24# 27#- 2636 30 - 26
N. Y. C. & 11. River,. 106#- 99#
10636-101# 106#-100
N Y., N. H. & II.... 141 -139
14236-141
141 -139#
Ohio & Mississippi., 49#- 45# 49364436 4636- 4436
do
do scrip,
do
do pref.. 75**- 73** 75**- 74#
74#Pacific of Missouri... 60#- 54
59;#- 49
54
-51#
Panama
126 - 95
127#-10634
Pitts.,F.W.& C.,guar. 93#- 92
94 - 92# 95 - 93
do
do special.
90 - 90
Renss. & Saratoga...
...Rome & Watertown.
80
..80
80 - SO
St. L. & Iron Moun..
92#- 91# 91 - 90
97#- 94
St.L.,K. C & N., pref. 70 - 66
65 - 58
6736- 66
Sixth Avenue

XT OO >2

26

-

.,

-104

91# 93

-

39’’- 39”

-

-..

1

93

...

-

—

110

•

-

-112# 114#-112
-11736 11236-H1

75

do
2d, pref.
Michigan Central....

.

-

27#- 23
25#- 19# 27#- 18
3
2
334- 234
434 - 236
3
2#
110
-108
111#-110>4
-10S34 11134-110
‘09#-108#

113

-100

24

-

•

•

-

28

.

.

3036- 23
936- 2#

•

24
97

95-95

95#- 94

-

105#- -103# 105
98#
80
81
82#- 80
82#- 76
77# 74
70# 71 #- 68#
94
83
89
8934- 87# 88
81
81
8736- 8436 85
8i)>6
114 #-11136 11736-H2
11434-104# lll#-i07
110#- 107# 11134-109
42 H - 36
4336- 88
40#- 35# 3734- 29
31#- 26# 3334 • 28
92
88
89^- 88
8936- 87
8836 90#- 83
87#' 89*4- 8736
87
82
90
90
87
91#- 90
86
86# 88
84# 89 - 85
103 -100
105 -100
10136- 95
96
10136-100
10234- 9736 102

71
121

7114- 70
32 -o'
T—1 ei 0
•

-

52*6- 4236

50#- 46

Long Island.

Louisville & Nasliv..
Mar. & Ciu., 1st, pref.

20*

38#9#- 6# 1036- 8
-112# no -no

115
97
116

Chic., Burl.& Quincy. ia8#-114

do

93

-

....-

—

-

....

8-8
39

-

...-

38
..

7#-

S

••••

•

•

.1

23#- 20
27

30

-

75
....

-

27

9#28
28

9336- 87# 92*6- 54# 73#- 45
95
92# 92
84# 8534- 58
62
03#- 62
57# 60-52
68
67
59
6836- 51
44#
56
68-57
74#- 72# 72

85
57
60
65

’-lii” 109’ -166’’

110

-

-

-

-

-

114#-li2#

114

4

-

20

-

25

10

—

-

7#

29#- 20**
34#- 33

68#- 43# 75
76
41
45
62

-

-

66#

92-85

99

-

60#- 57#
70 - 60#
73-64

-

....

210*’-207’
80

5

45

-

....

20-20

.

35#- 18
.

....

....-

_-219

....

....-

80

SO’

.......

2ii *-2ii*‘

....

....-

....

....-

3

-

....•

•

•

•

......

....

3

't*

3

120

-120

....

•4

RAILROAD AND MISCELLANEOUS

77

STOCKS.

1874.

market wag Ies3 excited and less subject to wide fluctuations than for many years
The financial crisis of 1873 had broken up to a considerable extent the strong speculative cliques or combinations
which had formerly controlled the market, and had also given the outside public a strong distaste for further ventures in stock
speculation. The so-called Granger laws of Wisconsin and other Western States, regulating and reducing the rates for passengers
and freights on the railroads within their respective bor ers, caused much excitement among capitalists and holders ot railway
securities. The suits brought under the law were decided against the railroads iu the State courts, but were finally appealed to the
U. S. Supreme Court, and had not been decided at the close of the year.
Chicago & Northwestern and Chicago Milwaukee & St.
Paul were the stocks chiefly affected by this question.
The New York Central & Hudson River began the payment of quarterly
dividends with January, 1875.
Lake Shore & Michigan Southern was heavily encumbered with floating debt at the beginning, but
was able to negotiate bonds to pay it off ; and, after passing the August dividend, declared 3$ per cent in December, payable Feb. 1,
1875.
Western Union Telegraph paid 2 per cent quarterly in July and October, and announced the determination of the managers
to pay regularly thereafter.
Erie Railway affairs were much involved, and an investigation of its accounts was made by English
accountants sent over for the purpose, whose conclusions were not regarded as satisfactory.
Mr. Watson resigned the presidency
and Mr. Hugh J. Jewett was elected to the office. Pacific Mail was depressed by disasters to the company’s steamers, by dissension
among the directors, and by the development that $750,000 had been spent for passing through Congress in 1872 the bill for the
$500,000 additional subsidy. The Toledo Wabash & Western road lost heavily on its earnings, and the price ran down under the
prospect of a default in the interest due Feb. 1, 1875. The highest and lowest prices of the year of some of the most active stocks
were as follows : New York Central & Hudson River 95$ May
19, 105$ March 1 ; Erie, 20 Dec. 10, 54$ Jan. 15 ; Lake Shore, 67$
June 19, 84f Jan. 16 ; Wabash, 18$ Dec. 29, 55$ Jan. 16 ; Northwestern, 34$ July 15, 62$ Jan. 9; Rock Island. 92$ June 19,109$ Feb.
9; St. Paul, 31$ May 18, 49$ Jan. 10; Ohio & Mississ’ppi, 22$ June 17, 36 Jan. 10; Union Pacific, 23 June 17,33$ March 30 ; Western
Union Telegraph, 68 April 24, 83$ Dec. 10; Pacific Mail, 33$ Dec. 21, 51$ Sept. 30.
During the year 1374 the New York svock

previously.

January.

STOCKS.

Febru’ky

K. R. Stocks.

91%
19%- 123*
3%- 2#

92

-

Atlan. & Pacific pref.
Bost’u Ilartf’d & Erie
Cent, of New Jersey. 104 - 9S
Central Pacific
71#- 71
110 -103
Chicago & Alton
do

scrip.,

do

pref...

Ch:cago Bur. & Q,—
Chicago Mil. & St. P.

94#- 94
22

-

17%

3%- 1#
109#-103#
73
115

-

72

-106#

112
106

-iio‘
-

97

49#- 41 %

ii5* -109#
112

-105

48#- 43#

73

-

-

-

-

-

rjrt

prof

. _ _.

Hiinois Central

118
1C3

-117
-100

i0S#-102#
104

scrip

do

-

J CLY.

93%
10#- 13%
1%%

94

108#-106#

108

-105

:04
93

-

97

93 V

-

August.

Septeji’p.

-

-

-

94

16,%- 13#

October.

1%-

1

-

104

-100

-102% 104#- 99
93

ioik-ioo"

93
108

-

93

-101#

100

-

93

io2#-ioi**

Long Island

85

-

84%- 77%

105

-102

105#-100# i 07#-103# 10S#-102% 103 -101# 103 -100
35%- 32
41#- 31# 39% - 32# 36#- 33% 35#- 32

Louisville & Nashv..
Mar. & Cin. 1st pref..
do
2d pref..

53*

Michigan Central
Mo. Kansas & Texas.

95#- 78

95#- 89#

12

16#- 15#

Mobile & Ohio
Morr 8 & Essex....
New Jersey
New Jersey Southern
N. London Northern.
N. Y. Cent. & H. R..
N. Y. N. H. & II
Ohio & Mississippi...
do
scrip.,
do
pref...
Pacific of Missouri...
Panama
Pitis.F.W.&C. guar.

-

53*

59-59

51# 58
43#35
60#53
92# 101#-

54#- 52% 54 39#- 36% 41%58 - 54% 57#95# 103#- 98% 104%51%

31#
53

92#- 89#
122 -117
9-6

36#- 34%
37# 40%- 34*
61 - 61
56
70
64% 65
31 - 25
33#- 26
32#- 29
41 -37% 39#- 31% 33#- 30#
129 -125% 129 -127#
133 -129

65#40
118
93

-

129

3-1#- 30
47#- 47#
28,#- 23# 27#- 25
32#- 29# 32#- 31
129 -125# 125#-123#
55

-

-

-

-

-

55

34#- 31#
48#- 47#
26#- 24#
32#- 30
126 -123#

3S%- 33#
55

-

50

36
56

-

-

99#- 94

101%- 98
97

82*

92

97

-

-

28#- 22% 28#- 23%
3.3 - 29# 33
28#
13J -127#
131 -125
-

-

76%

80%- 73# 7T%- 73#

99

-

96# 96#- 93#

92#- 90

92#- 90

-

-

pref

60*
29#

8

*30#- 28*’
35

-

33

3%- 3
95#- 92#
63
5*#




16

*io*

76%- 70# 74%- 72

-

96

81#- 73% 83%- 78%

98%- 9'%
82%- 79%

77%- 75

73
10

-

*8*‘

77#- 72

*1*8*

-

16

-

16

18

-

18

75

-

69#

75

-

68%

17#- 17#

_

77

78#- 73

-

1*8"

95#- 93
125

97

-

94%

97#- 96%

98#23

-125

3%—

72#

97* *

-128

3

16

-

1G

*78

-

73#

11

io* ”8*

-

-

-

131

43

-

-

97#

13**

98#- 98%
81 %- 78%

-

10

93#- 98#

129#-129
3
2%

*8*

-

*8**

83 %- 77

99 %-

130

95%

-128%

-

105 #-104#

-

-129

86
66
45

85-85

-

46
40
55 - 48# 47#- 40
63
42-40
35
37% 41
39# *42#- 37% 41
117 -111
115#-101
108#-103# 111#-106%
11G%-115
94#- 92
95#- 93# 95#- 92% 94#- 93# 95#- 93#
-

-

-

-

-

9#-

8#

35#- 30 *
40#- 35#
4 - 3%

Adams Express
99-94
....
American Express...
65-64
United States Express 71 - 68# 73 - 70
Wells Fa;go hxpress. 'tO - 69% 78
75%
Del. & Hud. Canal... 121 -113
119#—115
Harlem Gas
Manhattan Gas
215 -2is*
New York Gas
135%-135%
Bankers & Bro. Ass’n 80-80
*90* - 87*
Boston Water Power. 20 - 18#
’
Union Trust Co.....
Farmers’ L’n & Trust
-

—

-

...

101

99 %-

i:V
96

-

27#- 24% 27f - 24%
35% - 29# 35 - 33*
131 -129# 131 -li7%

65

122

109

*11*
33
54

...

8#- 6#
32 #- 29#

38#- 55
Q3/-_

d/%

93'

d/i

99#- 96
65
62%
72
71#
-

-

78

-

76

U8#-U6#

110

-109
-

ii"

80

-110
80

-

33
28

38

-

22

25%- 24

27

-

110#-10b#
80-80
10 - 10
33 - 27

48
42
112

94

64
53
55 - 50% 55%- 54
61
62#
43 - 36% 47%- 46%
37# 39%- 38% 33%- 36
-107# 112%-111% 11G -111# 114 #-110# 116 -114% 115#-1U
- 92
93#- 92
93%- 90% 92% - 90# S6%- 91% 93%- 93#
-

45
33

-

-

28#- 24

103

80*
25
28

-

25
25

125#-125
41#- 34#

46#- S8

38%-

80**

48%- 37#
5 *#- 54
17
75

-

-

46#- 43#

280* -280* *
72

-

58

22#

39% - 29

##
45#- 39%

ii

27#- 25

12
21

18

-

25-24
13 - 15

10

28%- 25

_

45

-

42

70** ‘77#60

*73#- 70* *
-

55

*3**

-

*26#- 23*’

-

75

-116
_

43
19
285
73
55
45

40
17
-285
67
-

44

___

-

—

14#

-41#

-

30
23

-

26#
24#
21

3

5
25
29

-

-

3
25
29

47*

-

-105

-

23**

51#- 47#

-

60#

35

51#- 44%
-

-

is#: 19

-

40
14

32%- 18%
38-30

37#- 33%
90

-

90

45%- 43% 45%- 33%
4:%- 40
40%- 39
20
17# 19%- 18
-

81#- 78

*83%-

78%

-

40*’

2#
3%
SO#- 25
-

3J

-215**

-240
66

245

-

56

64

-

6%-

3

G

-

-

66

215
67

59

-

59

53

-2*10

30% *84* - 29**
40#- 33% 39#- 34

*34#-

-

-

-

-107

116
62

-108

-

GO#

-

GO

60#
66%- 64#

-

79

80-80

-

.114% 11C%-115

75% - 70
56

4%

36%-

30**

43

37

-

48

-

43#

20

4S%- 45

-

2#3#-

34

108
61
70

17

108
-107# I09#-107
60% 60%- 60% 62
- 67
67
68#- 67# 67
77
60#- 73
74# 79
79#- 79
119 -116# 119#-114
115
114#-113
-

-

85

68

*40*
24*

40

-

*7i#- 7*3* *

45

4#-

32% - 29
41

-

73% 80#- 76# Sl%- 78%
60'
60
43*’ 47#- 46# 47%- 45
18
2'J
19
19%- 17%

55

-

15#- 14

20
240

-

-

19

-243
70-68

259

61*

-

*5

-

3%-

59*’
*3**
3%

35% - 32#
45#- 44

120 -115% 116 -113#
65-64
65%- 62
65 - 63# 65 - 60
84 - 79% 81 - 82
116%-115# 117 -115%
125 -122

__

140

90-90

20

35#- 28%

41

GO

39
15

-

77%

*27*

X

43#- 44#

75#-

-

26

21#- 2J#

85

69

-

26%- 26
26#- 16%

29%- 27% 37#- 28# 37#- 33% 36%- 34

-

43
19

-112
72 - 72
11-7

112

40

76

76
117

'

109%-1C9

79

2#- 2%
37%- 33# 35#- 31%

16

—

-125

3i#- 33#

15#

__

25*

-

-

—

77-77
119 -116

—

-

15#

-

3o
35ii- 30
2#- 2#
108
109#- 99
93# - 98
63#- 62# 63#- 61# 64
69
71 %- 66# 67#- 67
3o

109%-109

48

43

*5*

6-5
-

15
22

-

-

-

69

...

*28*

ii

-

-

80

*75#- 69**

65

45

-108

48
17

52

.19

16
75

.80-68
66

-

-

_

34%- 25# 29#- 23

45#- 40%

50
40

80

-

20

-

„

do

-

29#- 26
45

_

-

6i#- 53**

Union M’g Co.of T€nn

77%- 67%
65

89#- 85# 85
15
14# 10

1C6 -104# 109 -108
Renss. & Saratoga... 104%-103
75 ' - 73
Rome & Watertown.. 72 - 72
75 - 73
16 - 14
6t. Louis Alt. & T. II. 20-12
12#- 12
35 - 33
do
pref. 39 - 31
St. L. I. M. & South.. 70 - 49# 71#- 63
St. L. K. C. & N. pref. 32 - 29# 34%- 30
28#- 24#
155 -155
Sixth Avenue
125 -125
Stonington
4-4
Tol. P* oria & War...
Tol. Wab. & Western 55#- 49% 54#- 49# 49#- 43%
do
71 - 71
pref. 71#- 71#
Union Pacific
38#- 31#
P5%- 30% 35% - 34
Warren
stocks.
m
Atlantic Mail
Pacific Mail
44#- 38% 44 - 41% 49#- 41%
Am. District Tel
62 - 50
62 - 57#
50-40
Atlantic & Pac. Tel.. 16#- 15# 19%- 16# 17%- 16
N. Y.Gold & Slock Tel
Western Union Tel.. 80* - 73*' 78 - 72# 82%- 71#
American Coal
72 - 70
65 - 63
66 - 66
Consolidation Coal... 51 - 44
49#- 45# 48 -47
23 - 20# 24#- 22#
Maryland Coal
Pennsylvania Coal.. 270 -250 285 -272# 285* -285**
65 - 53
58 - 58
Spring Mt,. Coal
50#- 40
Brunswick C. L
3#- 3#
3#- 3#
Canton
79 - 73# 82#- 72# 77 - 77
Cent. N. J. L. I. Co..
45 - 45

Quicksilver

20#- 26%

91

58#- 54

-

27
56

-

-110
- 90

H#-

-

-129

105#-101% 104#-101

special. 85#- 85#

Mariposa L. & M. Co.
do
pref.

-109*'

105#-100# ioo* -103#
39%- 32% 40%- 35%

96% 193%- 97% i03#-100
104%-100% 102#-100# 102*#—101 % 103%-100
105%- 99% 101#- 96# 93% - 95% 101
133 -127# 129#-128
133 -131
130#-129# 133%-129% 134#-133
139%-134# 139 -132
133#-130# 133%-152
34#- 31# 32
29# 31#- 24# 26#- 22# 26%- 21% 26%- 23# 25#- 21% 29% - 23% 29#- 26# 38#- 2;% 33#- 29%
30#

-122
-

-101%

-

-

-

34#- 26%

-

104%- 99% 105#-103
130
36

109

-106

-

9-2
94
92% *95*
93# 97* - 94# 97# 93
124#-122# 12-1%-124#
-120# 123#-123# 121 #-121
4-4
7-4
2#- 3#
6#- 6

93

108

60-60

47*

_

-

i07%-106

*16%- i5#

59
51# 53-50
35% 41# 36# 46#57 - 52
62*#51
99# 104#- 96# 101#-

-

-

-

16

15

96%

50% 58#- 56
43
36% 48
52% 62%- 58
96% 103% 100
68
67
66-64
64
66
62
71
75
69#- 59
7178 - 65
89
87# 88%- 87#
88#- 87# 89#- 86% 87#- 87# 87#- 87
87#- 87
14
8
8# H%- 9% lt.%- 8%
2034- 14# 19#- 15# 16%- 11# 15
110%-106% 107%-105 109 -107 110%-108 108#-106# 109%-108% 109#-107%
60#44#62#102%-

-

-

-

_

83%- 80%

-

18%- 12

-

-

98

85

99

98#- 97# 102#- 98% 105
90#- 90#

•

Joliet & Chicago
Lake Shore.

do

'NoyembeiJdecembeb

J

95 V- 95
- 94#
95
95
14#- 10# 12#- 11%
14#- 14
%
1%- 1
1%1#- 1#
106%-105% 106#- 103 106#-103%
95

-

-

-

66% 74 %- 69#
Chic. & Northwest..
62#- 57% 61 %- 56#
do
69% 78#- 72
pref. 75
Chic. & Rock Island.. 106 -100% 109%-104#
89#- 78
Cieve. Col. Cin. &Ind 80 - 76
90
87
Cleve & Pitts., guar.. 89#- 85
Col. Chic. & Ind. Ceil'. 32!*- 27% 32%- 30#
112%-105#
Bel. Lack. & West.. 105#- 99
65 - 65
Dubuque & Sioux C. 56 - 55
Erie
51#- 46# 50% - 46#
75
75
do
74#- 72#
pref
Hannibal & St. Joseph 34#- 27% 3 -i#- 30#
do
39#
pref. 43#- 37# 42
Harlem
126#-118% 134%-124#
prer.

S I#- 94%
94#- 94
18% - 15% 1G%- 12# 16 - 13#
2
1%- 1#
1# -1#- 1#
107 -105
108#-104
107#-104
72
72
71# <12
105 -102% 103 -101
106 -103
95
97#- 97# 95
107#-107 107* -106**
107#-107
103 -102
104#-103# 104#—101
46 - 39# 44% - 34# 37#- 31#
72
72
77
80#- 77# 73
48
55# 55
70#- 63.# 64
47
58
39%
50% 56%- 43
66#- 57
74#- 69# 72#- 63
108 -103% 107%- 96# 99#- 94#
67 - G4
75
81
75#- 65
89 - 87%
90#- 86
89#- 87
21 %- 18#
32 %- 28# 32% - 20
111#-107 108%-104# 109#-106#
95

-

serin.

do

June.

May.

ArKiL.

High.Low .'High.Low.
High. Low. nigh. Low High.Low. Iligh.Low. High Low High.Low High.Low. High.Low High.Low High.Low

ATb’y & Susquehanna

rln

March.

-140

,40

-138

...

•

137

136

-136

-'• 85

-185

-137

•

_

....

-

....

-

...

-

....

..

-

...

^

78

RAILROAD AND MISCELLANEOUS
STOCKS,

1875.
by extreme depression in many of the prominent
been favorites at the Stock
speculative stocks which had long
Exchange. The most important influence bearing upon the
decline in earnings
during the first nine months of the year, arising from the depressionvalues of railroad stocks in generalfwas the
in commercial affairs, and more
from the low rates on both
freight and passengers, which were caused by the
particularly
sharp competition for business among the different
roads.
The latter difficulty was
greatly aggravated on the principal trunk lines between the West and
the Atlantic seaboard
disagreement between the Baltimore & Ohio and the Pennsylvania
by the
railroads, which led t^ the so-called “ freight war/’ in which rates
were reduced below the actual cost of
transportation. Two prominent roads
forming parts of Western trunk lines defaulted on
their interest and went into the hands of
receivers—Erie on the 26th of
May, and Toledo Wabash & Western February 22—and on
several other roads
belonging to the same general group the net earnings were
only sufficient to pay bonded interest, and the
of such
leading stocks as Lake Shore & Michigan Southern and
Michigan Central declined to lower figures than in the panic of prices
The Pacific railroads—Central Pacific and
1873.
Union Pacific—formed a
conspicuous exception to most others, in
prosperous business and a large increase in gross and net
showing a highly
earnings. Both companies during the yeaf paid dividends on their
and declared the
stocks,
policy of paying eight per cent per annum in future. These
companies were also greatly strengthened by the
U. S. Supreme Court
decision, given November 29, declaring that they are not bound to
pay interest on the bonds issued to them
by the United States Government until the maturity of such bonds. A new
line of steamships between China and
Occidental and Oriental,” was established under
Japan, the
the auspices of parties interested ia the
Central Pacific Railroad.
Union Telegraph paid
Western
eight per cent on its stock, and showed a small surplus in
earnings.
The grand speculative move of the
year was the advance in Union Pacific stock from 33 in
January to 79J- in July, and 82£ in
November, under the management of Mr. Jay Gould and other
parties, mostly in Boston. Second to the advance in Union Pacific
the most
extraordinary fluctuation in any stock was that in Pacific of Missouri, which sold at 53 in
went to 7£ in October.
April and 4?£ in September, and
This extraordinary break in the stock of a road
leased at fixed annual dividends
was
(to the Atlantic & Pacific),
demoralizing in its effects and tended to increase the lack of confidence imvalues
; it was caused by a large decrease iu
and by the
development of the fact that a heavy increase in bonded debt had been made since the
earnings
lease.
To var is the close of the
year there was an improvement in the
general tone and a more confident feeling, based in part upon an
improvement in railroad
tarnings.
The

of

course

prices in 1875

marked

was

“

January. February

STOCKS.

Marcu.

Aprtl.

May.

June.

July.

August.

Septem’r.

K. 11. Stocks—

Alh’y & Susquehanna
98
98
Atlantic & Pac., pref. 17*- 14* 15*12*
Central of N. Jersey..
107*-105* ll8*-101*
Central

99

Pacific

99

105
18
120

-105

103 *-100* 103
!02
98*- 98
106 -104* 112
113*-1(>5* 119

-103
-10)

-

-

15*- 13
113

-109

-

104

-103*
17*- 14*

13*

-110

114

103

-103

16

101

-101

101
13

15*- 13* i4
ii
111*-109
111%-109

14*

-

__

scrip
prcf

-

....

112*-110
109

Mil. & St. P... 39*- 36
pref 59*- 57
Chicago & Northwest 48*- 13*
do
pref ( 2*- 56*

-103*

38*- 32 %

,

do

Chic. & Rock Island.
Cleve., Col., (Jin. & I.
Cleve. & Pitts., guar.

—

-

-

....

Chic., Bur. & Quincy 110*-109

Chic

—

i07%-102%

107
105
-107* 111
-112* 113
40*- 36* 38
59*- 56 ^ 59

58*- 51*

57

46*- 38%
59*- 51*

60*- 51*

51

-

03*
88 ya
9*- 8

65*- 63*
60
92*- 9934 92*- 90*
Col., Chic. & Inil. C..
8*- 4*
6*- 5
Del., Lack. & West.. 10814-100* lio*-; 08* i!2*-iio%
Dubuque & Sioux C.
46
40
55
54
Erie
30*- 5:8
29*- 26* 35*- 26*
do
pref
53
51
50
42
Hannibal & St. Jo... 26
18* 22*- 19* 30*- 20*
do
pref 34*- 23
30*- 27* 37*- 2^*
Harlem
128 -is;* 129 -121* 31 -128
a
do
pref......
IHmo:8 Central
102
97
103 -109
102*-100
Ind., Cm. & Laf
11. - 11
Joliet & Chicago
93
98
96* 93
Kansas Pacific^.....
•3
2*
Lake Shore
60*- 72* 75*- 72* 75*- 72*
65

-

-

-

...

-

-

do

49

—

133
128

82*- 78

3-3
Morris & Essex
96 - 95
New Jersey
129 -12<
New Jersey Southern
4-2
N. Y. Cent. & H. It..
lP2*-t(»l
N. Y., N. H. & 11.... 137 -133
Ohio & Mississippi...
32*- 26*
do
pref. 09 - 65
Pacific of Missouri... 51*- 46
Panama
-

Ren*. & Saratoga
Rome «ft Watertown.
St. Louis, Alt. »fcT.H.
do pref.

St. L., I. M. & South.
St. L., K. C. «fc N
do
pref.
Second Avenue
Terre Haute & Ind..
Third Avenue

ITIfscel’s Stocks.
Pacific Mail
American Dist. Tel..
Atlantic & Pac. Tel..

Western Union Tel.
American Coat

Consolidation Coal...

Maryland Coal
Pennsylvania Coal...

78*- 74

76

-

77

_

9'34- 9534
132 -131*

100

97*

-

.

3-3

-

...

27
27

-

25
25

-

-

....

-in

-

....

73*- 73*
8-8
26 - 26
23 - 20

__

'm

-

-130*

-

25

__

99

95

-

•

20*65

-

-

73

i.5

•

•

~

•

54*- 46

103* 10 *
52*- 47%
91*- 88
5*- 3*
12

-1*5

i

63*- 62

...

57

62*- 57%

12

-119
96
90

165

62

-

59

59*- 51*

-

1!

....

-122

111*-111

135

-no
-

111

27

21

-

-

69

-

63*

-114

66*- 62

63

-130

45
70

2J
9*- 7

130

23
70
-130

%-

41

-

-

....

102%-lOP*

1(,4

-K2

130

-129* 130*-124*
4*- 2*
3-2*
15 -103%
104*-102

114

-141

24*- 18*

-144

18*

-

18
20

11%

-

18

-

43*- 42

-

42

17*- ) 7
250 -217*
64-64

04*- 02

-

51*- 48

.4)

-12 J

4

-43*

142

i

35

-

-130

HI
101

-134

97*

-

36

-

....

-

2)

...

-

....

18%
9*- 6*

40

-

38

33
26

-

23
22

18

-

58

_

-

..

55

.

18
18

-

r...

-

38

-

50

-

8*-

-

...

18
13

23
18

36

33*-

-

-

.

-

63

-

109

-

28

-

-

15
99

45*- 32*

4*

.

.

....

5)

-

19

-

70

-

25

5

6-6
3 %- 3 0*

26

-

25
-15

17

10J

-100

42

-

26

-

72
37

49*- 46*

41*-34

22*

23*- 18
81*- 73

70

69*
17*- 17*
63^4- 65

-

-

....

3

47

-

-

41*

49

-

45

....

-

5*-

61

-

61

7*

-

30

-

97*

115
50

-

22

-

-

5*

60

-

...

-

.

-

-

-

-

-

-

-

-

-

-

3J9

__

—

—

25
22

45

-

-295

-

...

63

63

-

-

25
19

-

50

49>4- 44*

■8
275
61

17
-275
61

-

-

22
17

-

-;o%

-

13

5*30

5

24*

-

-

i

—

_

....

-

....

-

(

....

-

—

_

,

-150
—

.

-

i

_

299

-

299

...

r%- 15*

35 % - 35

13*- 11*

127

-125

99*- 97*

5*—
24
18

5

-117

5-5

21
14

-

6*-

21

5
26

-

27

117

6-4
25 - 19*

-

20*

16|4- 14*

124*-124*
14)

2*- 2*
6%- S-.
G%- 6*
69*- 61*
42

34*

-

i0

310

-139
-3 »0

6*-

20
73
47
47

5*

-

...

82%—62%
-100

43*- 37*
20

—

-140

_

100

5*5

-

5

8!*- 72
42

-

33*

-

18

2 i

-

2*%

-

17*

19*- 18*

21

-

73*

77
48
48
18

77*- 71%

-

-

47
45

16*- 16*
-

....

-

-

75
47*
47 '

47

-

16%

18

-

_

45
13

277*-217% 2?7*-277i%
66
64
62*- 60

_

-

.

-

13*-

53

54-50

9%

50*- 47

-

...

-

12*- 10

10*-

*..

9

46:4- 36
-

...

75

-

8*

-

36

-

—

40

-

30

-

....

8-7

_

10*-

7*

__

—

13*- 9*
15*- 13*
22

-

io*

16*- 14*

21 %- 20
100*- 99* 103 -100*
58 - 56% 61
57
46 - 42
4-4*- 4:*
63 - 78* 81 - 71
124 -119* 120*- li 9*
-

20

12

12
16
2!
102

—

-

-

9* .11

14*

24
-101
-

61*- 58
43*- 43
80
77%

-

-

-

9*

-

19

15%

53*- 55*
43*
'•,9*- 78*

45

.

-

124*-!19* 12u*-119%
7*-207*

100*- 77

ioi*-ioo
-

.

-

310

-310

105*-101*
125

-125
-

...

7*
17

-

57*

r.5

-

41

82
124

10*- 8*
18*- 17

.

315

—

—

-

-

.

94*- 90%

....

94

-

94

103*-103

..

....

-300

62%'- 53

78* t-6*- 83
-120* 724 -122*
-

-

....

fin*- 56*

—

-148

-

-...

-

-

61

—

148

—

hi-

18

24*- 24
23*- 22* 24%- 23
101%- 19*. 103 -101
103*-101*

2

—

-

55

40
....

10%-

_

__

....

9:’*- 96%

5

_

-

,.
__

<D,

-125

114*-114*

50

5

•

__

150

—

—

50

48-46

—
__

v*

_

65*- 62

-

-

.

81*- 78* 81*- 75*

_

65

5*

3-%- 33%

*- 18

....

66

-

...

_

-

_

3 %

-

15*136

-115

■

-

Neav York Gas

!

_

-

-

7

40*- £6%

__

-

7*-

74*- 69*
-ion* 1U2 ;/2-102*

50

G*-

-

5*
71*

_

8-7

.

75
loi

;01%-101*

31%

79*- 71*

....

18

62
35

-

-

76*- 68

-

-

6*7*-

—

45*

6*-

3*

-

4*
5*

—

26*- 22
89%- 71*

G9%
15*- 15*

62*

—

7*-

-

79%- 69

__

23i/2- 2-*
80*- 76*

.

6*4

6*-

-

...

40

136
99.

7-7

22
18

-

32

52*- 52*

6*

6*-

....

__

49*- 42
lb*- 17*
70

-

8*

10

7*- 6
12*- 5
4*
0*- 6*
9
7*
7*- 7* 12*- 8
Quicksilver
*.. 35
33
35
32
23
31*- 25
18
18* 19%- 13
15*
do
pref
41
40
49
4)
33
49*- 36
27* 26
21* 2 5*- 21
Adams Express
100
93
102
99
104 -19
103 *-100* 101
104%-lu3*
99*
American Express
65
02* 04
61* 64
63*3 61*- 63* 64*- 63* 64*- 59
United Staies Ex
m
57
61
61
51
56*
58
5 ‘
57* 64
51
42
Wells, Fargo Ex
82
79* 87*- 84
86*- 8»
92*- 87* 92*- 67
66
75
Del.
Hud. Canal.. 118%-1I1
114 -110* 114*-113
122 -119*
i2:*-i;4
12i*-119
Manhattan G’s
,

9-9

19*- 16*

3!

-

r

73*- 71*

45*- 41*
23

***

..

_

_

c

....

...

9*

-

32

47%- 39%

98*- 97*, 101*- 98

_‘

14%-

-

_

7:4- 5*

12

_

20*- 2 )

75*- 70* 73*- 7 *
43

is*-

6 *- 58

_

16*- 14*

-

58

19*- 17

19*- 10

62*- 59*

_

45*- 34*

28
21

....

53

-

_

37*- 30*
-

-

....

_

36*- 33*

-

-70

■*- 15
32
30*

_

68*- 80* 78*- 63
93
95
96* 99

2.5

-

....

()*

19*- 14*1 17%- i5

44-44

-

...

45
20

-

41*- 38*
96*- 93*
v8

7 »

63 - f3% G7%- 57
(2*~ 57*
6 - 6
8 %6
9-7
104 -102% 103%-T3* 05
'03*-102
-100*
13 %-l3 * 133 -132* 135
131*-13U*
-132%
2*- 2%
2
2%- 2
1
1**
105%-ini* 105 -U1* 1061.4-104
106 -103%
114 -112*145
-143% 46%-14i
147 -141*

-

133

96*

...

25*- 21*
22

-

25*- 22*

-

.

8-7

23*- 17

3^*- 36
92*- 87
30

61

-

IS*- 14*

-

62*- 5 *

_

-

66

.—

-

10

8-8

-

99*- 97* 100

-

■

l9*- 19
79*- 7 i*

-

-

11V;

-

_

-

8-7

26*- 26
29*- 20

1.0

3 i

*i*- 53*

-li3% 105*-103%
i 0
53 >
59*- 57
90*9.i*- 89%
5*- 4*
4%-r 3%
120 -117* 120% -11
*

35

-

7*- 64%
4 »*- 37*

51

-

-105
—i13

..

10

-

-

-

90

7-7

_

-

55
1005

1K*- H*

36

'

6%-3;%

6;*- 6
3o%- 36

33%

-

....

-

io

13*-

-

-

.

_

-




40

-

134%-134

-100* K-3*- 98

70
72*- 63
63
9*- 7
ic3*-io6 102*-101 103*- 9 '*
13 i -128* 130*-130
13i *-130
8*- 5
6*- 4*
4*- 3
!05*-100* 107*-100 104*—10 *
140 -139
141 -149* 145 -142
28*- 2'* 27*- 21
24*- 21*
58
45
53*- 57
55
55
49
47*
51* - 48

—

Prod.con. L’d&Pi t.Co
Reno Real Eet., 2dpf.
Union Trust Co
United States Tr. Co

63*- f8%

_

21*
72*- 57*

!6
15

_

103

93

-

-103

•

21*- 15* 24*- 19* 22 %- 2)
24
20% 32%- 22
21*- 25}%
1. 2 -129 w. 13:3
134*-129
-132* 134%-121*
id *-131%
33%-!33
93*- 97* 98 - 88* 95*- 90* 9i*- 93*

-

-131

9;*- 97

105 -105
-110* 113 -my
35%-- 29% 37*- 31

-

-

__

_

135

-

-

78*- 69

.

245 -245
Spring Mountain Coal 08 - 04
Boston Water Power.
Canton
04 - 58*
Cent. N. J. L. I. Co..
Mariposa L. & M. Co. 7*- 3*
do
assess, pd.
do pref
8
7*
do
do assess.pd.

*

-

—

-

21*- 24* 24*- 24*

-

95

—

112

-

....

93

—

-

__

....

iii

'

•

-

-

17

135

10

-

-

Warren

-133

-

P'*- 3*
103 -100*
:ov>*-ioi
138*-13 7* 139 -138%;
29*- 24
29*- 24*|
G )*- 59
48*- 43* 49*- 44*
11434-110* 11 •*> *—HI % 121* 112
172
93*- 93* 93*- 97* 99
96* 93
-

•

-103

36*- 36*

73*- 70*

.

-

—

75*- 70*

8-8

-

Toledo, Peo. & War..
Tol., Wab. & West’n. 21*- 14* 17*- ’0
do
20
pref. 32
2)
14

Union Pacific

137

_

Michigan Centra!....

Pitts.,Ft.W.&C.. guar
do
special

-130*

-128

_

59

-

.

-

27-7

40

-

8-8

Mo., Kansas & Texas

-

106*-101* 105*-100*

__

2d pref

do

50

98

97*

105*-103W; !C4

-

—

_

Louisville & Nashv..
Mar. & Cin., 1st pref.

-

-

_

Long Island

-

-

-

104

-;oo
- 94

—

-103

37*- 33*

-

-

-

109

100

.

-

-

-

112*

-

.

-107
-112

...

-

-

-

109
115

35*- 28%
56*- 51*
41*- 35*
55
47*

-

-

.

_

32

-

-

-

.

-102% 104*-ICO

....

-101

oo

-

..

-

-101*
-100
-106

-

-

-

.

105

-

K'3%-102* !05%-lt'2% 106*-102*
71
93

-112*

103
100
103
.115

118% -111* 112*-111*
39
35% «7*- 33%
54
61 %- 5u
65 %- 58%
64*- <1%
45*- 41* 42*- 37*
42*- 36* 4 :*- 3s* 40*- 37*
58*- 51
55*- 52*
56*- 49
59*- 54* 55*106*-102* 105*-1U0* 104*-100* 105*-103% '09*-105* 108% 52*
10-.>
62
62*- 60
46
53
59
45
42
55
45
53
50
94*- 91* 94*- 88* 91*- 87% 92 -91* !. 2
89* 91*- 69*
7-5*
6*- 4*
5-3
5*— 8%
5-4
4%- 3*
123 -IKiYu 120*-116* 121 *-117
121*-118* 12!%-U9* 122 -119*
56
56
61
61
6i
61
66
0‘i
32*- 28* 39*- 16* 18*- 12* 15*- 13% 16*- 11* 66*- 64
2»*- 15*
44
41
25
42**
24*- 20
28
28
40
29
24* 25*- 2)* 24*- 20* 26
23
25*- 21* 23*- 17%
35*- 30
30
31*- 28
39
32
30
31
29
26
22

38*- 32*

17*- 39*

-103
-105
-110

103

-

-

—

!05*-lC4*

-104

9*
9*- 4
•'■*-■ 4%
4*- 3*
108
1U*-110
99* 106 -104
106*-104

-

-108* 113*—107

_

Chicago & Alton
do
do

October. November December

iligh.Low. High. Low. High. Lowr. nigh. Low. Iligh.Low’.
High. Low. High. Low. High. Low. High. Low.
High. Low’. High .-Low. Iligh.Low

....

315

—

....

-315

....

—

....

....

-

....

RAILROAD AND MISCELLANEOUS STOCKS.

’r

'T'O

1876.

The year

1876 will be memorable in the annals of the New York stock market as one of great depression in values. The
which furnished the chief causes for the decline in stocks were also of different origin and applied to different
classes of stocks, carrying with them the discouraging suggestion that no stock can be so strong as not to be liable to a blow from
some quarter.
In the first two or three months there was considerable activity and, at times, buoyancy, in the market, and it was
frequently remarked that a more healthy tone had set in. The first serious check to this improved condition of affairs came in the
Bhape of the railroad freight war, which commenced in the latter part of April. It was not known at first who was the responsible
party for breaking up the then existing arrangements among the trunk lines to the West, but it afterward appeared that it was a
deliberate move on the part of Commodore Vanderbilt, as president of the New York Central and Lake cfiiore
Companies, to secure
the important principle of one uniform rate for through freights from competitive points at the West over
any of the four leading
trunk iines to the Atlantic seaboard.
The managers of the Pennsylvania and Baltimore & Ohio Railroads resisted this and stood
out for rates based on
mileage, which would give them the advantage of lower prices to Philadelphia and Baltimore than to New
York.
The opening of hostilities was followed by the sharpest competition for
freight, and while regular schedule rates on fourthclass freight from Chicago to New York were reduced to 20 cents per 100 lbs., the actual rates made
privately with shippers were
even much lower.
The war was kept up with unequalled severity throughout the Summer and Fall, and was not settled till Dec.
16, wli^n an agreement was made that produce shipped by rail to the seaboard, intended for export, should be charged at one rate
to any of the three cities, New York.
Philadelphia, or Baltimore, while that shipped for home consumption should have the
benefit of a lower rate to the two cities last named.
Second to the depressing influence arising from the railroad war, the break-up
in the anthracite coal combination, and the consequent decline in the stocks of the
coal-carrying roads, was the chief event of
importance. As usual under such circumstances, the bears in stocks made the most of these discouraging features to hammer the
market to their utmost, and thus added to the
gloomy feeling prevalent. New York Central & Hudson River held its own well
until the last of the year, when the critical illness of Mr. Vanderbilt,
together with the issue of the company’s report for the year
ending Sept. 30, aff-cted the stock unfavorably. Erie changed but little, and the bondholders’ committee in London were still
engaged at the end of the year in endeavoring to carry out the proposed plan of settlement. Ohio & Mississippi went into the
hands of Messrs. Torrance & King, as receivers, on Nov. 17.
Illinois Central stock declined heavily from decreased earnings on
the road, and the company declared only 2 per cent dividend
payable February 1, 1877. Lake Shore, through an enormous ecoqomy
of expenditures, declared 2 per cent in
July and
for the last six months of the year. Pacific of Missouri was foreclosed under
the third mortgage. The fluctuations of the stocks of the
coal-carrying roads, Delaware Lackawanna & Western and Central of
New Jersey, ai d of the Delaware & Hudson Canal, are shown in the table below.
Railroad earnings in the first half of the year
made a temarknb
y good exhibit, and out of thirty-two roads whose reports of gross earnings for the six months ending Juce 30,
1876, were published in the Chronicle, all but five showed an increase as compared with the same time in 1875. In the latter
haif of the y* ar gross earnings fell
off materially, and in consequence of the low rates for freight established by the railroad war,
the net profits from operations were reduced
proportionately more than the gross receipts.
the year

events of

January Februart

March.

April.

Low.High Low.nigh.

Low. High.

Low.High

103 -10**
4-5

105*-1C6

4

May.

June.

July.

STOCKS.

llailroad Stock

August.

Septem’r.

Low.High.

Low. High. Low. High. Low.High. Low.High.
.

October. November December
bow. High. Low. High. Low. High.

6

Aib'y A -u-quehanna 101 -101
Atlantic & Pac., pref.
4-7

101

-105

5*-

7

Belleville & S. ilLpf.
19 -19.
Central of N. Jerse/.. 103 -107* 105*-109*
Centra Pacific
Chica.o & Alton
98*-lf 5*
do
106 -110
pref. 106 <4-10.
Chic. Bur. & Quincy.. 114 -117V 116 -121V
Chic. Mil. & St. Paul. 35 V- 42* 4 *- 46*
do
do pf. >6*- 77
•4*- 8)*
Chic. & Northwert’n. 38 *- 43
4 '*- 45%
do
do
pf. 56*- 64 V U*- 67V
Chic. & R ck Island. li4*-109* 108 -111*
Cin. Ham. A Day on
C’ev. Col. Cin. A Ind. f-7 - 6D/a 53*- 57*
Clev. & Pittsb., gu . r. 89*- 95
93 - 95*
Col. Chic. & Ind. O.
5 - 5*
3*- 6V
Del. Lick. & We -t’n n;*-:2>* 116 -120
DubuqueA Sioux Cit\ 70 - 72
72*- 74
Erie
15)4- 18
16*- 18*
do pref
7. 30
35*
Hannibal & St. Jo
18 - 22 V
18*- 2-'*
do
pref. 2i - 33* 28 - 32*
Harlem
13'*-13 * 1 .64-14 Illinois C Ttral
97 V-10 * 97*-102
Kfinsa- Pacific
12*- 16)4 13 - 15
t U*- 68 „
Lake Sho e
59*- 67 4
Loui vibe & Na-hv..
57 - 63V 59V- 61*
Michigan Central
]V i 8 uri Kan. & Tex.
74- 84
7*- 13*
Morris & Ed-ex
1 1*-T2V 1'2*-1 5 V
New Jersey 137 -13s
138 -143
-

3-4

1024-1024

2-3

1*-

2

2*

103

-103

2*

-

80

-87

106V-107* 95*-108
101. -101
101 -106*

100*-105''

..

.

-

...

..

...

•

-

41*- 444
61*- 68*

-424

5614- 6214
-111* 103*-F 6*
57

-

-

5

-

57
-

-

19

2l

-

9 Vt- 12 it

37 -139
95-97

-118* 107
114*-11'.*
35*- 42
67*- 7214

-

Adams Expr ss
American Express...
United States Ex.

-

....

..

18 V- 21V

1-*1*-1M*
57 - 59*
58 - 62*
8 >*- 85*

Afcicrican Coal
Consolidation Coal...

5 )
47

Maryland Coal
Pennsylvania Coal...
Spring Moun. Coal...
Jiari|,osa L. & M. Co.

17*- 18

do

pref.

19

-

22

73*- 80* 70*- 79*

Welis-Fargo Express.
L-CV & Ilud. Canal... 119*-125

Quicksilver

29*- 38*

-

-

55
50

-

63-65
8 - 9*
8 - 10*

106

-iU

58*- 67

-

37

45

94

42

77

-

32

9-3

13*- 14%
21

20

-

21

-

“o'

-

92

98

-

93

43

50*

46*- 51*
8-9
101 -104*
136 V-138

41*- 52*
8
84
101*-102

-

..

59*- 65*
2 - 14*

48*-

siy

-

1

-

-

-

-

...

123 -138
1-2 *-105
-

...

119' -119'

50

50

5-5*
19*- 21
2 *

22

6*-

-

'20
13
23
133
79

...

19*- 23
-1374
80*- 89%

131

5-74

-

*-

7

26

-

7*-

^10'

90

-110* 105*-109
-157
153*-154*
15*- 17* 10*- 17*
32*- 3-1* 19
30*
5*- 12*
<*- 8
-

-1 9

100*-1.3*

ioi*-:o3*

;i6 -120*

151

-

.

3

314

-

...

39*- 46

New York Gas

49*-!53

62

1 5

4*

-

70

31

.“

17*- 19
5*- 5*
26
29*
-

3*

62*- fc5*

6

Prod.Con.Ld.& P. Co.
Reno Real Kst.,2dpf.
Farmers’ L’n & Trus:
Union Trust Co
United States Trust..

18*- 29*
204- 31
18*- 20*

66*- 7o*

105*-108*

44-45

-

53

270

-270

6

7

126'
10J

*

16*- 21* 19*- 28*

-

18

-12s

125

92

95

9*
7*- 10
17*- 19
22*- 23
V- 1*
-

-

In*- 19

fi

29*

5*-

7

ay*- 31

03*-105.V
...

-

...

...

-

....

59

-

63*

....

-

2-3

-

lb

-

13

-

1*4

154- 13

43*

-

59

-

64

21*- 27* 22*- 27
-

-

-

60

.

.

7
16

-

7*
18

22*- 23
!*- 1*

43-44

39*- 43

12*- 12*

36-40

-

5146*-

60

7
7*

14*- 16

21

-

1*-

21

3*

35-36

40

6
6*
29*- 31

5-6

-

1*-

26

-

*"

•••

2*

29*

-

122
101

54
16

27*- 29*

•

•

•

•

•

2*-

•

•

.

•

•

-127

-250

-111*
-1 5*

111

126

-123

-102* 100*-102*

-113“

2*16
10

-

8*
in
13

-

-

-

41* 39*- 41

•260 ’ -260

5314- 55
6
9*
6
10*
14*- 15*
-

i*-

4)4-

‘4)4
15“

5*-

5*

27-28

5*
95

-

P4*

jlC2

.

.

“

.

23*- 25*

-

22

17

15

15*-

-

-

70

25*

-

240
55
8
8

-240
L5

238

-233

;•"■*- io*

34*- 15
70*- 73*
-

-

-

30

39*

10
-220

-

-

-

-

15*
70*- 73*
-

74*
100 -106
-llfi* 105 -109
5-*- 62* 60
61
61* 55
:
59*- 62*
494- 56*
6*- 61
83
87
86* 85
87*- 90
69
61* * Si 4 67*- 74
71*

-

30
10
220

ii ' i5’

105

-

38*- 40*
12
33*

9«“

23*- 25*

-

....

17*
68*- 73*
110 -114
107 -1094
58
59*- 62
60*
62
67* 59*- 64 V
83 *
79
86*
854
75*-101
62*- 86

-

3*- 7*
3*- 7*
57*- 60*

19*- 24*

174
6'*- 72V

5*

27*

5*- 8
7-8*
57*- t>2

21*- 24*
-

-

-

7*
7*- 104
61
f34
99
90*

60*- G5
•

11
5
26

•

44-

4*

5-5

-

-

33

34-34

94- 10

-

220

10*- 10*

-22J

36
9
230

36
1
-230
-

-

-

-

-

8*

6-8

8

6*-

13*- 13*

12
17

-

-

3-5

4V-

7'

54-

7

13

3-7
13 - 13

19

1**- 19

8*

3*
32-34

235
135

....

8

-

m

12*- 17*
5*- 5*

.

15
-270

«

90*- 94

-

95
-112

15

—

.

4*

....

-

P2V-105* 1(
05*-K'5* IC5*-106* i

25J

2*

-

-153
-

*-

-

—

...

42*- 48*

GO*

-

'5'*-

.

-

15

2*

41*- 494
74- 7*
90
!44

-

136)4-137*

-128

-1154 110
-

38*i
14*- 18* 15
IS* i8
63*- r-9
63*- 67* 66*- 71* 69*- 72*
1 07 -108* 107 -111 * 108* -110* 110V-U1
60-63
61*- 63* 53
60
63!* 53
67 - 74
75
72 -764
6914- 71* 71
85 - 87* 86
90
5-9
89*
S>* 84
1 18 -119* lo4*-114V 105 -110
100 -108*
2

2)4~
55

98

5*23

17*- 20

-

-141

t()*- 71 Vt

54*- eo*
31*- 31V

1*

-

-102)4 99*-102*

115

**-102

136

2-2

.

*- 61*
7

-138

-

57*- 65

62

-

67)4- 82*

-137

-

7*- 10*
16
17)4
12)4- 14
25)4- 27

-

103)
-

134
1

62

-10

7*

-

17

2-3

102

41*- 4.5*
16*- 18*

150

13i

16

41

'

-

2V~

-1C5

45*- 49

_

31
-13S
- 87

-

-

88*- 90*
2*- 3*
69*- 73*

-

-130

13

1

...

-

53

-

f

16

12*- 15
23*- 27*

36

1
1*
97*-105* 100*-1P3* ion*-107*
-L24 14S*-1514 151*-156
150 -155*
12
5-11
0*- 13* 10
5*- 6*
2 )
27* 184- 20*
3*- 15
'?*- 11*
3-5
14- 4
3*- 44
3*- 4

96
143

*-.54

3*-

3-4

67*- 75

16*

7*- 9*
89*- 9 > V

a

84-97
135 -138

10 - 13)
19 54- 24
130
101
92

- 39*
88*- 90*

20

*4i*- 52“

8)

•

55-57

9-11

37*

-

4-44
53*- 63

*-

105
152

13

19*- 22
5*-

29*- 32*

-

8*- 10*

-

-

31*-42*

44*

1

-

136

as*7*-

3i*-

35

48*- 54*

52*- 51*

5i>

3*1®

-

-

17*- 18*

37* 33

,

85*- 91
3*- 4*
64*- 81*

104-13*

...

,

,,

-

-140
-104

12i
102

-

50

-

17*- 18* 17
20*
23*- 24* 23*- 24*

Union Min’g of J eun.
ronton
r.
Yrfanh ttan Gas

„

io* "94- i2* "9*- li*

-

23

-91:

tO

.

35*- 41

—

12*- 14 V 10*- 1-1* 10*- 32.'
21*- 24
1914- 25
18*- 21
13 *-140
137 -138)
1374-149
96

37

-

66*- &4*

65*- 66
84- 145

13*
7*- 11
15 -106
10114-1' 6 10 * 1044
l>8 -142* 136 -138* 131*-135*
1-14
1
1*- 1%
1*
112*- 16* 112 -113* U8 -112*
155 -159
154 -15 V: 154 -156
19*- 22* 15
19* 15*- 17*
4)
42
33 -41*
12*- 16
13*- 16
12*- 14

52*- 61 ‘

-

86*- 92
3*- 3*

-105*

52*- 59*

60*- 61
61
76* 70
74*
85-91
86
87*
119*-122* 119*-121

275 -27 5
64-65

90

-

-

—

36*- 39*

-

964-101*
lOOV-lO;)*
113*-115*
24*- 31
54*- 61*
31*- 42*
59
64*

-

93*- 96*
3*- 4*

52*- 57*

-

.miscellaneous.
.

86

2*

2K-

f

.

VcificMa 1
Aiiier. District Tel...
A'lantic& Pac. Tel..
•Western Union Tel..

89-90

97* 100
9^*- 90*
10S*-108V4 103 -110
!12*-116
112*-115* 112*-116*
28 - 35*
18*- 25* 18*- 2'*
58
67*
49*- 56* 50*- 51*
31*- :-7*
32*- 38* 34)4- 38
57)4- 63*
57*- 61* 55*- 6 *
100 -116* 98*-li2* 98*-i02
98*-’.02*

62*- 6714
107*-109* 101*-108
40

...

96 - 99
103 *-108*

-103

38*- 43*

9*- 9\
51*- 56

.




-

loo* -102* 97*-102J

—

41* 26*- 404

-

-100

103

.

20-20

.

15*
-0*- 21*

25%

-143 4 136V-13’*
-10 * 96-99

13*
59*- 66

13

-

...

—

...

1314- 1714

25*- 29V
139
;*8
12

-

pr<

-

-

15*- 19

-

do

97*- 68* 984-103
107 -110
>*-105
-1:8* 114*-U6*
35*- 39* 38 - 414
61 -61* 67*- 72*
39*- 41
39*- 4 5*
59
55*- 60
67)4
103*-10G 105V-109*
104
117

21

61*- 74* 37*- 64
100

-

.

-

do

98

-

-

•

854

-

-

*

.

38

98

56
45-50
51*- 60* 5 >
42
48*
93
93*96* 92*- 91* 92*- 93*
4
3*- 5
5
4Yt4-4*
4*
U7*-120 10414-119** 102*-111. 104*-I09
75
65
70
64
66
77*
17*- 23* 13*- 20J4 13 - 15* 13*- 15

...

..

37*- 41%
»2*- 61%

‘71*-

...

...

.

'

...

-120

40V- 46
65*- 84%

.

1
2\
*“ 2
N. Y. (vn. & Ilud. R. i' 4* nv* III -1 74
N. Y. N. H. & Hartf 14. -151
150 -151V
Oiiio A Mississip i.. 16*- 24* 21 - 24 *
do
4-51
«9 - 5U*
pref..
Pacific of Missouri
11
17* 11*- 14*
Panama
27 -135
13 ■ -133
Pitts. F. W. & C. gna\ 97*-l 1* 1 04 “103
do
9J - 91*
ep cial.
Rengp. & Saratoga
.......
R me W’town & Og
6 b Louis A. &T. H...
5
5*- 5*
7*
do
2)
24
22 - 22*
pref
Bt.L. I. M. & South.. 15
21* 19*- 25*
h
S1.L.K.C. &Nor li...
4
5*- 7*
do
p ef. 2 -'*- 81* 2«*- 33
ft- ningfon.
135 -135
T- rre Haute & Tnd...
?ol. Wab. & West.
3 - 6*
3*- 6*
oo.
do. pref..
5-6
Union Pacific
67*- 744 65*- 71
Warr*n.
1-2 -102
102 -103
..

-my

ll^V-119*

..

New.Jersey Sonihen.

97
117

10J

-

...

I03*-i074

...

^

79*- 98*

110V-111

-

-

—

....

—

-

89
2

-

1%

-

.

.

80

1-2*

i

9*55

-

13
19

9*
25

-235
-135

-

-

...

4-5

14
19

10)4- 15*
17-23

4
4

13
18

-

-

-

-

6“
/*
14
21*

....

30*

28-39

-

31
249

....

-

-117* il?*-ll9* 112*-119* 112*-115* 1154-115%

..

.

135
1

-

135

-ias

249

-135

....

?u V -340

;

...

...

—

.

-

—

so

RAILROAD AND

MISCELLANEOUS STOCKS.
18*7.

The first half of the year

1877

period of extreme depression in the New York stock market. .There was no
panic and no
or extraorJinary events to suddenly break down the market, but vaiues shrunk
away steadily under the unfavorable
circumstances affecting stocks, assisted by the mo3t
persistent and vigorous hammering by a strong combination of bear
Railroad and-telegraph stocks, as well as those of the
operators.
coal-carriers, all came in for their share of misfortunes. Commodore
Vanderbilt died early in January, and in March the trunk-line
agreement of December 16, 1876,—“ one rate to the seaboard”—
for which he had contended so
vigorously, was abandoned, and the unsettled condition of affairs among the trunk lines, after the
ruinous strife between them for the
previous twelve months, was exceedingly
difficulty, and still more remediless, was the trouble among the coal-carrying and discouraging. Only second to the trunk-line
mining companies, arising from the low price of
coal. The Central Railroad of New
Jersey went into the hands of a receiver in February. The Philadelphia &
Reading company
was obliged to obtain concessions from its
creditors, and the two prominent New York companies—the Delaware Lackawanna &
Western Railroad and the Delaware & Hudson Canal
Company—saddled with burdensome
was a

j violent

*

leases, resorted to new mortgage Fans
obligations. Simultaneously, the telegraph war was pushed to the utmost
by the Atlantic & Pacific Company,
wa3 controlled by parties
in the bear interest.
Railroad earnings generally showed a
large decrease compared with 1876.
Taking advantage of the situation, the bears pushed stocks to the lowest -figures, which
they thought the market would enduie,
and from 'the prices for
April given in the table below, it may be seen at a glance how disastrous was the
campaign to all parties
except those few speculators who had sold stocks short.
In June the trunk-line
companies made a new agreement for freight rates, based on
mileage; the two leading coal-carrying A
companies had negotiated loans which placed them beyond the danger of present
embarrassment; the reports of a very abundant- ^
harvest began to come in after the middle of
July; the telegraph consolidation was under negotiation, and finally
completed iav*
August; and there was now formed (in July) a very strong speculative combination to
put up stocks. .The same parties who had
recently been bears wers most heavily interested in this movement, and with them
nearly the whole market, which had already
been suffering long and
impatiently under the recent depression. The upward movement was delayed
temporarily by the serious
labor strikes; but as soon as these
ended, in the early part of August, the advance began in earnest. Under this
purely speculative
movement, based, it is true, on elements of real improvement in the
situation, stocks were carried up largely in August and
September, and some of the leading operators loaled themselves up with large blocks, which
they still held, in whole or in part,
at the end of the year.
Riilroad earnings began to increase in August, and during the autumn
months the principal grain-carrying
roads showed a large imorovement over their
earnings for the same time in 1876. The principal circumstances affecting railroad
earnings in the year 1877 were as follows: First— Hie exceedingly low rates on the trunk lines
during the greater part of the year,
and a moderate decrease in the volume of business on
those lines.
Second—The diminished crops of 1876 in the West and North¬
west, leaving a small volume of freight for the railroads in the first half of
1877, which had to be carried at low rates, in consequence
of the “ granger” decisions
against the railroads, and the sharp competition for business. Third—The
exceptional prosperity and
increasing population in northern Texas, Arkansas and Missouri, which helped the railroads
running into those sections. Fourth:—
The steady business on the main line of the Pacific
railroads. Fifth—The great crops of 1877, which
changed the entire situation
when they began to come to market.
Sixth—Tue agreement among trunklines, both Western and
Southwestern, which were
made in the Fall for the maintenance of better rates for
freight.
Upon the whole, the year was one of the most eventful ever known in the stock
market, and the extreme depression of the
first half of the year, with the
extraordinary rise which took place afterward—both carried on by speculative manipulation—were
calculated more than ever to show
up the great uncertainty of stock operations and the enormous
advantage which a clique of
speculators possesses over the outside purchaser.
to meet t'aeir current

which

Ian u ary.

February

March.

STOCKS.

April.

May.

June.

July.

August.

Septrm’r

October. November December

Low.High. Low.High. Low.High. Low.High Low.High. Low.High. Low.High.
Low.High. Low.High.
Railroads.
Albany & Susqueh’a.

Jturl. C. It. <fe North’n
Central of N. Jersey
.

Chicago & Alton

85

8G

-

CO

-

85

6S

67

72

-

71*

-

72

73

-

58

21*- 37*
99*-102

10
95

23*

-

-li'3

7

$4- 10%

75484

89%- 95*

6%-

0*

91*

-

-

-

-

-

77
106

-

-

6

9*
91*

7*
75%- 82*

-106
-102v

99

99

95%-101
21%
2•)* *18
51* 47*- 51*
24* 1S%- 21*
50% 43*- 4s*
95* 90*- 93*

25

33

-

-

-

22

6354- 68*

-

-

-

-

-

38*- 53%
42*- 42*
0*- 7*

53*- 57%

_

47*- 55*

-

-

....

.

4554- 50* 40*- 47*

-

45
29

45%- 52*
26

-

26

35*- 44%

90

-92*

.

Special

_

Itenns. & Saratoga .. 109 -111
Rome W’town & Og.
St. Louis A. & T. H..
3-3
Preferred
14
16
Sl.L. LM. & South.. 11*- 13
St. L. K. C. & North
4*- 5
Preferred
24 - 25
St. Louis & San Fran.
Union Pacific
50*- 65*
Wabash receipts
6
7*
Warren
:...
94
- 94
-

-

79
134

1ST

-144

35% -

-

90
92
96

-101*
92

-

-10954

254-

3

15

-

11

-

11*

454-

4%

15

-13)

89
85

9754-100*
93
95

-

93
87

97*

3-3
13 - 15
10 - 11
4 - 4*
23 - 25 •

Preferred.
Ontario Silver

Quicksilver

220

6*5*-

6*- 8*
87*- 90

1554- 2'%

-

33

10*- 10*
-215

4*454-

6*
7
...

16

14

-

22

89
94

-

-

98*

-

23

-

16

52

96

98

-

...

-

.

-

97

-

-

-

-

-

-

-

53*- 62

-

-

60*- 65*
2-2

2

....

46*- 52*

49*- 65*
2**- 28*

40*- 44*4
4*- 4*

43

56*
4*- 5*
-

65*- 72* 7i*2-4*
35461*- 66* 63*29*- 29*
56*- 61* 58*4*- 654
6*70*- 83
70*-

-

79
6*
73*

70*- 75*
3*- 9*

71*- 74*

62*- 69*

58

..

.

74*
7*

....

30
8
198

-

-

....

-100
-

90

....

....

-

3-6
SJ
- 81

82

12%- 22*

...

.

93

-

57%- 65*
4%- 5*
73
76*
115*-120

-

3

-

65

5

-

.

-100

101

-113

86*- 9254

93

93

-

96'

12

5-6

3%-

-

3*-

....

....

-113

111
90

-

115*-130
94
92J4 87

-

93

4*

-

3*-

15

15

-

96

3*
18

99

-100*

3*15

-

3*

4
23

63*- 66*

5*

20*- 22

....

-

-132

-

69

2*-

5

W*- 23%
-

61

17

66*- 70*

5%-

-

7

5

-

25

5*

9*- 14*
76*- 76*

-

-

—

40
27
8-10
-

40
21
10

-

-

3-4*
3*- 5

...

-

-

26^

20

2U

-

20

>2*0

40
24
10

2i

-

-

-

-

-

-

5
4*

.

•

1

**

-

155

3

-

-

.

-

....

-

-

...

at-

«

2

2l"

*

20-20
■"

155

1

-

-

9-9

_

1*- 2% r:-2
2*
20%- 21% 20*- 21* 21*- 22
14
15
13
14* 13*- 20
21
35
21*- 22
22*- 25
17*- 20
14*- 14*

-

•

21
.

-125

1

2*20%- 20*
14%- 15*
22
23%

25

9%- 10

*

125

2*-

-•

•

a

....

•

•
—
-

-

•

■

128 ‘

■

-138“

21

-157

1*-

2

*"

....

—

.

..

....

-

...

....

-

..

-.

•

••••

t * •

.1..

-

....

93*

-....

....

-

.

—

•••

-

95
11

4*- 4*
14*- 15
7*- 8
4*- 5*
22*- 24
3*- 4
64*- 67*
13*- 15*

24* 20*- 23*
...

-

-

-

25;
10

-

-

-

-

25

-

10
145

-

-

-

-

23

-

23*
23* 21
77*- 81* 75*- 79*
95*- 99* 96*- 98*
49
49
56
51*
44*- 48
46*- 48*
86*- 67* 86*- 87*
43
52*
48% 45
20

1*
1*1**- 1*
22
23* 23
13
24
165433
45
32*22
22J4 21

2-2

-

-

%-

21*- 22*
1854- 23*
31 %- 30*
18

.

,

-

i29* -I29"
120

..

...

125

—

-130

2-3*
5
2*- 5
25* 25*- 80*
16
17*
18
28 - 33*
36
3*

-

22

20-20

....

*

....

L*

__

155

....

15

-120

i-24 -124“

—

-

120

....

-

....

—

....

•••

""

•••«

-120

-

....

124
91

—

-

40
25

-

-

-

-

-

6*- 8*
6*- 7*
4%- 6*
454- 6*
24*- 27* 22*- 25*
3 *- 5%
3*- 3*
60 "- 63" 66*- 67*
12*- 20* 1454- 17

6*
27*

-

-

....

15

17

22*

-

-

-

6*

.

-

19
25
20

18% - 20%
1854- 23*

20

_

-222

1

71*
4*- 15
-

-

-

-

92*

95
11

-

-200

-

C3%- 69*
*- 2*

_

20

-

-125

-

-

4*-

18

7-8*
3*- 4%
21*- 24*

-

10*

-

.88

-

6-9
....

120

-

5*- 10
3*- 4*
20*- 23

-

3354

-

65

*

•

54*-

-

81*- 90i/3

-

...

mm

•

64*

-

20*- 26* 2?*- 25* 22*- 24*
24 '
25
24
24*- 24* 23
22 V 19
20*
16*- 23 5t 19%- 21% 19
20* 17
24* 19
20*
56
64* 60%- 66
56*- 63* 57*- 71* 70*- 83* 76*- 84% 76*- 84*
91 -100* 95*-100$4 92%- 96
95
92 -100
99* 92 -100
95*-100
59
54* 45*- 54* 43*- 47* 43*- 46* 44
46* 45*- 55* 5254- 55*
3S
45
40
40
42
41
45
42* 39*- 47
44*- 50
44*- 50
82
8-4
83
84
81
99
81
85
82* 82*- 81* 83
8354- 87
36
50* 35%- 50% 25*- 37% 33*- 47
33*- tO* 39*- 57* 39*- 48%

25

-

5%14

-

132
•

9
-

40%- 41

-

—

..

63*- 69

18*- 25*
19

26
222

....

....

•

■

-

-

-

94%- 97
81*- 93%

—

is
17* is
21 %- 25* •19*- 21*

20*- 23

-

-

-

-

-

-

-

-

-

....

-

-

4%- 5%
3*- 354 .4-5*
20*- 24* 25
28*

G654- 73
354" 5*

-

14
21

Preferred
Canton
28
Manhattan Gas
New York Gas.
Union Trust Co
United States Trust.. '....
Pullman Palace Car..




8 54

Min’g.

•

-

-

37%- 41%
5%- 5*

5-8

82*- 64* 83
81*
45
62% 146*- 53*

200

8*

-

-

•

—

64-68

31

-221

73

-

48%

-

-

-

15*- 163*
12
14J4
76*- 78%
■102
100*101
■102*
33*- 37*
68*- 73*
33
36*
61*- 66*
91*- 101*
31*- 3076
78*
■

15*
80*
99*-103
101* -103*
-

-

-

1*-

....

-120
99

...

-

33

18*

86
-105
-

-

55*

-

.

-

-

-

....

_

-

30

-

33*- 40*
4>4- 5

_

-

9*- 11*

14*- 19 * 15
77
81*- 87
102 -103* 103

15

-

-

-

34

30

...

118

15%- 17*

Maryland Coal
Pennsylvania Coal...
Mariposa L. & M. Co.

24

-

Western Ui ion Tel.. 71
78
62*- 77
57*- 66*
Adam-* Express .
tOO *-lC5
10*2 -104* 100 -103
..
American Express... 56*- 58
57*- 60* 47 - 59 '
United States Exprrss 49
59* 48 - 52k 43 - 50
89

47*- 54%

-

...

-

90

-

-

—

46

73
14
11
74

-

-

84

2-2

71

-

6*

-

-

98J4-104* S9 54-102M 101 *-105
31* 3: *- 36% 31*- 42* 32*- 37*
59*- 67* 66*- 72% 66*- 7'i% 66*- 72
19
23
21*- 35* 32*- 38* 33*- 43% 33*- 37*
45*- 52* 50*- 63* 61*- 64* 61*- 69* 63
67*
90 %- 96* 94 -102
99*-102% 100*-105* 99 -101%
23*- 27
24*- 35
31*- 41* 37*- 49* 35
42*
62
82
83
75*- 82* 78
74
84* 76 -.79*
2-5
1*- 3*
3%- 5*
3
4
3%- 5*
354~ 4%
36 r 46
40*- 51* 44*- 59% 45
53* 45*- 51% 47*--51*
49
52
42*- 43* 46
51
55
60
60
6C
6*- 9*
8*- 12* 10
13* 11*- 15
854- 12* ”7%-: io*
18
21
16*- 18
24
27
23* 20
18*- 2554 22i* 23
11
S
15%
12* 1154- >4*
954“ 13* 12*- 13* 11* 12$*
28
33% 23
29* 26*- 31* 20
30* 27*- 31
24% 28*
139 -14254 141 -142* 142 -144
13754-140
143 -147
141* -147
19*- 24%
51
61*

-

23*- 25* 24%- 20*

56*- 74%

-

-

_

43

50*- 59*

71

-

11*'- 15
.22*- 28%
136*-14154

_

75*

90* 80*- 86* 57*- 81* 66
78* 51*- 69* 64
72* 68*- '?*
73 - 78*
77
129 -133
-137% 134*-137* 120 -134
12 7%-127* 129 -132
127 -127
129 -129
110 -124
7/
%%
%- 1*
%- 1
%*
%%
**1
*
7b
*
/b
*- 2*
1%
91*-102* 89 %- 98
85*- 94* 88%- 96* 83 - 93
80*- 95* 92*-K)3% 99 *-194* 101*-109* lf5*-107* 1P4*-107*
151 -l.:3
149 -150* 151 *-153
!51%-152* 1J6 -152 147 -152* 149 -153
153 -154* 154 -157
152*-154
158*
4
3
5*- 7
3
6*
4*
4*- 6*
7
2%- 5*
2*- 3*
6-7*
7*
11*
8%- 9%
7* 10*
8
12
12
8-9%
11*
7%- 8
4-6
8
14
10
5%- 7
16
11*
14*- 20
14*- 17
17*
2-2
2*- 3%
2-2
2*- 2*
2-2*
2-2*
1*- 2
1*
l$4
!22 -126

Atlantic & Pac. Tel..

Fargo Express.

-

51%
2054
42*

85

-

10*- 14
21*- 26

-

Miscellaneous.
Pacific Mail
Amer. District Tel...

Del. & Hud. Canal...
American Coal
Consolidation Coal..

-

-

-

....

5%-

70

10*- 21*

90
-no
-100
-

97

75

Low.High. Low.High.

-

—

_

—

New Jersey
13754-140
New Jersey Southern
**
N. Y. Cen. & Had. It. :oo*-t04%
N.Y.N. II. & Hartf.. 151 -152*
Chio & Mississippi..
5%- 7*
Preferred
10%- 13
Pacific of Missouri.
1%- 3*
Panama
128 -128
Pitts. F. W. & C. gua. 10054-101*

Wells

_

-

30% - 40%
....

_

-

24

-

72%- 84*
*- 1*

2

1*-

82
101

-101

-

Michigan Central....

64

7*- 1 i

-

17*'46*19*43%90*-

.

Missouri Kan. & Ttx.
Morris & Essex

65

_

Preferred
109 -110*4 10 '>*-112
101 -106
105 -105
Chic. Bur. & Quincy. 116*-118% 109 -11754 94
-10954 96 -104
Chic. Mil. & Ht. Paul. 17*- 21
16%- 19* 1754- 19% 11
1«%
Preferred
40*- 51* 46*- 4<% 45*- 47* 40*- 49*
Chic <fc Northwest’n. 34 %- 3i % 30*- 35
32
3!*- 34% 15
Preferred
55*- 58* 4^*- 50* 50
54* 3. %- 50*
Chic. & Rock Island. 9»*-102%
97*-102* 93*-10>* 82*- 98
Clev. Col Cin. & Ind, 3154- 39
21
33
2'*- 27* 1854- 27
Glev. & Pittsb., guar. 89*- 93
87*- 93
89 - 9054 79*- 89*
Col. Chic. & Ind. C
2*- 354
2*- 2*
1*- 2*
2%- 2*
Bel. Lack. & w est’n. 67 $4- 77
60%- 70% 56*- 66% 42*- 6 i*
46
Dubuque & Sioux C. 51 - f 5
46
45 - 46
3 *%- 45
Erie
7 - 9*
9*- 1 ■%
5-8
4%- 7*
Preferred..
16 - 16
17 - 18*
15
18
11*- 17
Hannibal & St. Jo... 12*- 15*
9
13
7-11
1054- 12
Preferred
26
30
20
23
17
2054 20
22*
Harlem
134 -141
135 -140* 136 -140
135 -139
Preferred....
135 -135
139 -lo9
Illinois Central
50*- 65* 51 - 53% 41*- 54
40J/4- 58
Kansas Pacific
2
2*- 2* 2
Lake Shore
Louisville & Nashv..

66

C2*

-

Low. High.

....

•

•

•

•

•

•

•

•

-

,...

*"

*••••

....

•

•

•

•

-

....

“*

••••

....

-

....

•

**••••
....

-

....

120
350
75

-120
-350
-75