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... ·'-
OFFICE
.,:,.
OF THE
MUTUAL INSURANCE COMPANY
m:,
The Trustees, in confo:mity
January 24th, 1893,
ng Statement of its affairs o
'i
the 31st of December, 1892.
Premiums on Marine Risks from 1st
Premiums on Policies not marked of
Total Marine Premiums ....... .
Premiums marked off from 1st Janu
. . . . . . . . . . . . . . . $3,769,193
Losses paid during the eame Period.
Returns of Premiums and Expenses
$1,466,178 06
The Company has the foltowi
United States and State of New Yor
Loans secured by Stocks and otherv
·Real Estate and claims due the Com
Premium Notes and Bills Receivable
Cash in Bank ..•.... , .........•....
Amount ...................... .
SIX P.BJR C11~N1 1 J NTEREf
pai,l to the holders thereof,
their legal representatives, on an
THE OUTSTANDING CERTIFICATES OF THE ISSUE OF 1888 will be redeemed and paid to
holders thereof, or their legal represents.ti ves, on and after Tuesday, the Seventh of February next, from wh
date all interest thereon will cease.
The certificates to be produced at the time of payment and canceled.
A DIVIDEND OF FORTY PER CENT is declared on the net earned premiums of the Company for
year ending 31st December, 1892, for which certificates will be issued on and after Tuesday, the 2d of May next.
By order of the Board,
J. H. CHAPMAN, Secretary.
TRUSTEES:
J. D. JONES,
W. H. H. MOORE, . . .~
A. A. RAVEN,
JOSEPH H. CHAPMAN,
JAMES LOW,
WM. STURGIS,
• . •
BENJAMIN H. FIEIJ');_ ~· : :\.. f•i.
JAMFS G. DE FOREST, _._ .-.;,
·
WILLIAM DEGROOT,
WILLIAM H. W~~' .J l ~1 .! .1
HORACE GRAY,
WILLIAM E. DODGE,
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
GEORGE BLISS,
JOHN L . RIKER,
C. A. HAND,
JOHN D. HEWLETT,
CHARLES P. BURDETf,
HENRY E. HAWLEY,
CHARLES H. MARSHALL,
CHARLES D. LEVERICII,
EDWARD FLOYD-JONES,
GEORGE H. MACY,•
LAWRENCE TURNURE,
WALDRON P. BROWN,
l'V
bAN.K
ANSON W. HARD,
ISAAC BELL,
N. DENTON SMITH,
THOMAS MAITLAND,
GUSTAV AMSINCK,
JOSEPH AGOSTINI,
GEORGE W. CAMPBELL,
VERNON H. BROWN,
CHRISTIAN DE THOMSEN.
LEANDER N. LOVELL.
EVERETT F.RAZAR,
WILLIAM B. BOUL'J;:ON.
. --t·:t~· ...
.
~
JOHN D. JONES~, .President.
W. H. H. MOORE, Vice-President.
A. A. RA VEN, 2d Vice-President.
WALTER T. HATCH,
-HENRY PRESCOTT HATCH,
Dember• New York Stoel,
ARTHUR MELVIN BA'roll,
and Produce Eiebaosea.
W. T. HATCH & SONS,
Bankers and Brokers,
96 Broadway and 6 Wall Street, New York.
Dealers in
INVESTMENT SECURITIES.
Personal Attention Given at the New York Exchanges to the Purchase and Sale on
Commission ·of Stocks, Bonds, Grain, &c., either for Cash or on Margin.
Loans Made or Negotiated Upon SatisCactory Securities.
Interest Allowed Upon Deposits, Subject to Check Without Notice.
i
IJBERAL
ARRANGEMENTS
SPECIAL ATTENTION
MADE
WITH
BANKS
PAID TO ORDERS FOR
AND
BANKERS.
INVESTMENT.
KOUNTZE BROTHERS,
BANKERS_
120 Broad~ay:, Ne-u1v -York._
Deposits received subject to Check at Sight, and Interest allowed on Balances.
Government and other Bonds and Investment Securities Bought and Sold on
Commission.
Telegraphic Transfers made to London and to various places in the
nited States .
Bills Drawn on London, Paris and Del'lin.
State and Municipal Bonds ij egotiated.
·' .Advances made upon Available Collateral.
Approved Business Paper Discounted or Received as Security for Loans.
Collections made throughout the United States and Territories, the British
..
Provinces~ and Europ.e,. .
;...,
Dividends and Coupons Co1lected
:••.,
• r,. )0 • Letters of Credit and Circular Notes Issued for the use of Travelers, availablP
all parts of the World.
,,..
1,/·in
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Federal Reserve Bank of St. Louis
CANADIAN BANK OF COMMERCE.
$7,oo.o,ooo.
CAPITAL AND SURPLUS,
;•·
ALEX. LAIRD AND WM. GRAY~
AC..-ENTS"
.
No. 16 Exchange Place, New York.
Boy and Sell Sterling Exchange, Cable TransCers, Etc.
Issue Commercial Credits, Available in all Parts of the World~
.
\
!
WAYLAND TRASK & CO.,
BANKERS AND STOCK BROKERS,
i,
18 Wall Street, New York.
Transact a General Banking Business, including the Purchase and sale on
Commission of Securities Dealt in at the New York Stock Exchange.
WAYLAND TRASK.
ALFRED N. RANKIN.
BA~KERS,
18 WALL STREET,
Transact a General Banking Bulneu.
Including the Purchase and Sale of Stow
and Bonds for Cash or on ll&rJia.
BUY A.ND BBLL
INVESTMENT SECURITIES •
•• M. KIDDER,
H. J. MORSE,
I
CH.A.RLEB D. MARVIN,
W. M. KIDDER.
KISSAM, WHITNEY & CO.,
BANKERS AND BROKERS,
17
BROAD ·STREET, . NEW
(Mills
YORK.
Building.)
INTEREST ALLOWED ON DEPOSIT ACCOUNTS SUBJECT TO DRAFT AT SIGHT.
Government, State, Municipal and Railroad Securities Bought and Sold
Commission for Cash or upon Margin.
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Federal Reserve Bank of St. Louis
Oil
WILLIAM · FAHNESTOCK,
RO~ERT Ji. DODSON.
Member of the New York Stock Exchange,
FAHNESTOCK & CO·.,
. BANKERS AND BROKERS-. NO. 2 WALL STREET, NEW YORl{.
Supply selected investment bonds for cash, . or in exchange for marketable securities .
Execute commission orders for investors at the Stock Exchange or in the open market.
Furnish information respecting bonds.
Dominick & Dickerman,
BA~KERS AND
BROK~ RS,
,,-,a BROADWAY, and 9 NEW STREET.
BRANCH 0FFICEP,
<PRIVATE WIRES.>
348 Broadway, New York,
117 Monroe Street, Chi c ago, Ill .,
150 Walnut Street, Cincinnati, 0.
W. G. D OMINICK.
W. B. 1>ICKERMA.1'ol.
B. D OMINICK .
All Members of N. Y. Stock Exchange.
COFFIN & STANTON,
BANKERS,
No. 72 Broadway, New York.
LONDON:
43 Th read need le Street.
Dealers in Bonds of·States, Municipalities and ()orporations.
JOSIAH H. REED.
.
REED
J\; o. I I
WILLIAM H. FLAGG.
& FL AG G,
New York.
Pine Street,
BROKERS AND DEALERS 'N
Rail Vv ay Bo:n.ds
And
Other
In.-vest r n en.t Secu.rities.
;] :~~~i Orders Executed for all Securities Dealt in at the New York Stock Exchange,
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Federal Reserve Bank of St. Louis
JOHN H. DA VIS & CO ..
EANK:ERS:,
Astor
No.
.Building.
10 -WALL STREET, N. Y.
MEMBERS OF NEW YORK AND PHILADELPHIA STOCK ·EXCHANGES.
PRIVATE WIRES TO BOSTON, PHILADELPHIA, BALTIMURE AND OHIOAGO.
· Our BOND DEPARTMENT is organized and conducted with great care, and
our BUREAU OF RAILWAY INFORMATION is unusually complete.
We are thus enabled to give valuable aid to those seeking safe and profitable
INVESTMENTS.
J, S. FARLEE.
ROBERT D. FARLEE.
J. S. FARLEE -& BROTHER,
No. 11 \VALL· STREET, NEW YORK.
BROKERS AND DEALERS IN
INVESTMENT BONDS.
State, -Municipal and Approved
RAILROAD
B O -N D S
On baud for immediate Delivery, Suitable for Savings Banks, Trust Funds and other Conservative Investments.
CORRESPONDENCE SOLICITED.
Investment
Bonds
Specialty.
a
ROLSTON & BASS,
STOCKS•-BONDS
AND
MISCELLANEOUS
W. H. ROLSTON,
Member of the New York Stook Exohanire,
W. A LEX. BASS, Jr.,
Memlter of tile :New Yerk Stock Exclaani:e,
EDWIN 8. HOOLBY.
20
SECURITIES.
Broad Street,
P.
o.
N e"'\V
York.
Box 3,089.
PRIVATE WIRES TO BOSTON.
GEORGE LEASK.
JULIAN W. ROBBINS.
HENRY S. WARNER, Member N. Y. Stock Exchange,
LEAS-K & CO.,
STOOK BROKERS,
35 WALL STREET, NEW YORK.
All Securities Current at the New York Stock Exchange Bought and Sold on
r
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Commission.
GEORGE -LJ1=ASK & CO.,
DEALERS IN COMMERCIAL PAPER.
CHARLES
HEAD & CO.,
EAN..K..ERS AND ERO..K..ERS:,
Mills Building, 1 T Broad Street, New York.
~3 State Street., Boston.
CONNECTED B:Y PRIVATE TELEGRAPH WIRE.
Stocks and Bonds Bought and Sold on Commission.
Samuel D. Davis & Co.,
BANKERS,
. 44 WALL STREET, N. Y.
ftEIIBEBS N. I. aTOCK. EI.CHANGE.
Investment Securities a Speeialty~
Interest Allowed on Depoaita subject to sight draft.
SAMUEL D. DAVIS.
CHARLES B. VAN NOSTRAND.
JAMES WHirE LY.
THOMAS H. BOLMER,
H. CRUGER OAKLEY,
MAYNARD C. EYRE.
PRINCE
& WHITELY,
BANKERS AND
BROKERS,
44 ·: and 46 Broadway, New York,
AND
t5 CENTER STREET, NEW HAVEN, CONN.
All Clas5es of Railway Stocks, also Grain, Provisions and Cotton,
Bought and Sold on Commission.
INVESTMENT
SECURITIES A
SPECIALTY.
CHARLES · T. WING & CO.,
. DEALERS IN HIGH-GRADE
RAILROAD AND CITY B·O ND S,
FRANK E. WING,
HENRY A. GLASSF ORD,
EDWARD N. GIBBS,
Special.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
I8 Wall Street,
i.il
I
NEW YORK ·
MOORE
&
BANKERS AND
SCHLEY,
HROKERS9
NO. 80 BROADWAY, NE'1V YOl{K.
llember1 of the New York Stock Exchanre.
PBIYA.TE WIRE OONNEOTION8 WITH OORRE8PONDENTI .&.T
BOSTON', PHILADELPHIA, WASHINGTON, D. C., CHICAGO, BALTIMORE AND
WM. D. BARBOUR.
CORNELLUS B. GOLD.
EDWIN CORNING,
.Mermber N. Y Stock Exchange.
GOLD, BARBOUR & CORNING, :i
BANKERS AND BROKERS,
18 -W-all Street:, Ne \AT -York_
TAINTOR&HO LT,
BANKERS,
No. 11 -W-all Street:,
NEW YORK.
Ot.n•. Ne'W Street~
Transact a General Banking and Stock Exchange Business.
Deposits Received and Interest Allowed on Balances.
Private Telegraph Wires to Providence and Boston
GILES E. TAINTOR.
.
G.D. L'HUILIER.
GEO. H. HOLT.
Established in 1879.
WATSON & GIBSON,
BANKERS AND BROKERS,
55 Broadway, New York.
Stocks, Bonds, Grain and Cotton Boughtfand Sold for Cash or on Margin.
W.e Issue a Daily Market Letter to our Clients.
Inquiries Cheerfully and Promptly Answered.
PRIVATE WIRES TO BOSTON PHILADELPHIA AND BRIDGEPORT. CONN.
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Federal Reserve Bank of St. Louis
KEAN & VAN .CORTLANDT·~
Ea:rik:.ers:, .
33 WALL STRE E T, NE\V YORK.
Special attention given to Investment Sec. u rities.
Drafts., Dividends, · .
Coupons, etc., collected for Foreign and Domestic Account.
INTERE~;r_r A LL O WED
O N
DEPOS1TS.
==================== ===========-==---·---
PARKINSON & BURR,
BANKERS AND BROKERS,
5 3 State Street, Boston, Mass.,
56 Brvadway, New York.
JOHN PARK I NSON, Member New York and Bo~ton Stock Ex:cba.nges.
I. TUCKE R B URR, JR., Memher Boston Stock Exchange.
JOSEPH M. GOODALE, Member Boston Stock Exchaqe.
WINTHROP M. BURR, Member New York Stook Exch&njCe.
R. T. WILSON & CO.,
Bankers and Oommission Merchants,
No. 33 Wall Street, New York.
NEGOTIATE
RAILWA Y
AND
OTHER
SECURITIES.
ACCOUNTS REOEIV.ED .AN D IN T ER EST .ALL O WED ON BALANCES, W HICH MA Y B E CHECKED
FOR .AT SI GHT.
W. S. LAWSON & CO.,
Bankers and B~okers,
Members New Vork and Philadelphia Stock Exchanges and New Vork Cotton Exchange .
49 EXCHANGE PLACE, NEW Y ORK.
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Federal Reserve Bank of St. Louis
Private Wires to Baston. Philadelphia . and Chicae;o. -
CORNELIUS C, CUYLER,
~
BEN }lMIN GR HAM,
JUNIUS SPENCE'R MORGAN,
General Partnerii.
MORRIS K. JESUP,
JOHN PATON,
Special Partners.
FRANCIS J. PATON,
CUYLER, MORGAN & CO.,
Successors to JOHN PA TON &
44 Pine Street,
CO . .,
New York.
Accounts and . Agency of Banks, Corporations, Firms and Individuals
receiYed upon favorable terms.
Dividends and Interest Collected and Remitted.
Act as Agents for Corporations in Paying Coupons and Dividends;
also as Transfer Agents.
Bonds, Stocks and Securities bought and sold on comm1ss1on at the
Stock Exchange or elsewhere.
Sterling Exchange and Cable Transfers bought and sold.
DRA""'\V" ON
The Union Bank or London-.
British Linen Company Bank, London and Scotland,
IJll!tter Bank, Limited, BelCast, lrelan·d , and branches.
Chartered 1871.
~nited jtates llortgage atompann.
59 CEDAR STREET, NEW YOR.K.
(MUTUAL LIFE BUILDING.)
SURPLUS, $500,000.
CAPITAL, $2,000,000.
CHARLES R. HENDERSON, President.
LUTHER KOUNTZE, Vice-President.
ARTHUR TURNBULL, Assistant Treasurer.
GEORGE W. YOUNG, 2d Vice-Pres't and Treas.
WILLIAM P. ELLIOl'l', Secretary.
This Company has all the Trust Powers granted by the banking la~s of the State of
New York, together with special privileges conferred by its charter.
Loans Money on Bond and Mortgage. Issues Debenture Bonds. Receives Deposits·
Subject to Check and allows interest on daily balances. Issues Certificates of Deposit. Act
as Trustee, Registrar, Transfer Agent. Pays Coupons. Executes all Tru ts.
Accounts solicited from Individuals, Firms and Corpomtions.
BOARD OF DIRECTORS.
SAMUEL D. BABCOCK, Banker, New York.
WILLIA.Jcl BABCOCK:, Parrott & Co., Ban Francisco, Cal.
WILLIAM E. BAILEY, Viee-President Guarantee Loan & Trust Co.,
Beattle, Wash.
CHABL:J:i D. DICKEY, Jr., Brown Bros. & Co., New York.
WILLI.AM P. DIXON, Miller, Peckham & Dixon, New York.
ROBERT A. GRANNISS, Vice-President Tbe Mutual Life Insurance
Co. of New York.
THEODORE A. HA.VEMYER, President American Sugar Refining Co.
CHARLES R. HENDERSON, President of the Company.
J A.MES J. IDLL, .President-Great Nodhern RR. Co.
GARDINER G. HUBBA.RD, Washington, D. C.
GUSTA.V E. :K:TSBEL, Kessler & Co., Bankers, New York.
I
LUTHER KOUNTZE, Kountze Bros., Bankers, New York.
CHARLTON T. LEWIS, Counselor at Law, New York.
LEWIS MAY, Banker, New York.
THEODORE MORFORD, Cashier Sussex National Bank, Newton, N. J.
RICHARD A. MCCURDY, President, The Mutual Life Insurance Co.
of New York.
ROBERT OLYPHANT, Ward & Olyphant, New York.
EDWIN PACKARD, President, New York Guaranty & Indemnity Co.
WILLIAM W. RCCHARDS, Comptroller The Mutual Lite In. uranc
Co. of New York.
J A.MES W. SEYMOUR, Jr., 32 Nassau St., New York.
J A.MES TIMPSON, 2d. Ass't Treasurer The Mutual Life lnsurauce o.
of New York.
EXECUTIVE COMMITTEE.
CHARLES D. DICKEY, JH.,
THEODORE A . KA. YEM.EYER,
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
CHARLES R. HE~DERSON ,
LUTHER KOUNTZE,
RICHA.RD A., MCCURDY.
GUSTAVE. KISSEL,
JAMES TIMPSON,
FINANCIAL REVIEW.
-
(ANNUAL.)
1893.
COMMERCE, BANKING, INVESTMENTS.
..
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.~
I
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I .. -
: ,r ...
t
f'r"«,
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pOJOIII'-
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WILLI.AM B. DANA & CO., Publishers,
OFFICE
OF THE COMMERCIAL AND FINANCIAL
102
CDRO_NICLE ,
WILLIAM STREET,
NEW YORK.
[Entered according to Act of Congress, 1n the y ear 1893, by WILLIAM B. DANA & Co., Publishers of the COMMERCIAL AND F INANCIAL
CHRONICLE, in the office of the Librarian of Congress, Washington, D. C.J
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
LB
CONTENTS.
PAGE.
1
iletrospect of 1892. . . ... • . . . . . .. . . ... . . .. .• .. . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . .. . . . . . . .. . . . . . . . . . • .. • • . . . • . . . • •
Clearin;;-s and Speculation in 1892... .. . . .. . . . ...... .. . . . . . . . . . . .. . . .. . . .. . . .. . . .. . . ... . . . .... .. . .. . . .. . . .. . . . 11
Ltstin,:s on the New Tork Stock Exchange . ...... . .... . . . ............... . ...... . .... . ....... . .............
13
....... .............................................................
16
Bm,iness failures in 1892 ......... ........ .
Rankin;;- and Financial............. . ........... . .. ... .. . . . . . . . . . .. . . . . . . .. . . . . . . . . . . .. . . .. . . .. . . .. . . .. . . .. . .. 11'
Report of U. S. Secretary of Treasury................ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • •. . • . . . . . • . • • 18
Report of Comptroller of the Currency...... . ...................................... . . . . . . . . • • . . . . . . • . . . . . . . . . • 19
Report of Director of the Mint, . . . . .. . .. .. .. . ... . . ......... . . . .. . . .. . . . . . . .. . .. .. ..... ... ............. . ........ 21.
New York City Bank Movements
r. • • • •
• • • • • • • • • • • • •
• •••••••••
........... ......................................
Great Britain in 1892-Commercia.l and Financial Review .......................•.......•...•.....•....•.••
22
22
Trade and C:ommerce-Commerce of the United States .......•............••.......•..••..••.•••......••.•••
26
Comparative Prices of Merchandise, 1860, 1879 and 1889-1898 ..........•••..•....•••••••...........•..••.•••..•. 26
Values of Exports and Imports of the United States and the Trade Balance for 80 years, 1863-1892..... . • . . • • 2 ,-
Exports of Leading Articles of Domestic Produce for Four Years .................................... ,........... 2 ,Imports of Leading Articles of Merchandise for Four Years. .. . . . . . . . . • . . . . . . • • . . • . . . . . . . . . . . . . . . : . • . • . • • . . . . . . 28
Values of Imports and Exports of the United States for the calendar years 1891 and 1892... . .. •. . . . • • . • • • • • • • • • • 28
The Money Market-Review of the Market-Currency and Silver Status..................... . .................... 29
Prices of Call Loans and Commercial Paper, 1885-1892 .......... . ....... .
30
·•• ·••··········· ····················
Gold and Silver-Production of the United States in 1892..... .. .. . .. . . . . . . . . . . . . . . . . . .. . . . .•••... ... . . . . . .. . • • • • 31
Product of Gold in Australasian Colonies.. . .................................................................. ... 33
World's Gold Production since 1870 ..•.......... ,
....... . .......•• , . . • • . . . . . . . . . . . . . . . . . • . . • . . • • • . . • •. . • •. . . . 34
World's Silver Production since 1870.... . ..... . .... . . . . . . . . . . . . . . . . . . • • . . . . . . . • . . . . . . . . . . . • . . . . . . . . . • . . . • • . • • • 32
Forei;;-n Exchan;-e-Prices in New York, 1880-1892...... . . .. . . . . . ............ . .......... .. . . .. . • •. . . .. . . •. . . . . . • . 36
Investments .. . .................... • ... •·•.•·•••••••••·•••·••• ••• •·••• ••••·•••·•••· . ........ . . . .. . . .. . . .. . . .. . . .. . 40
Compound-Interest Table, Showing the Accumulation of Money in a Series of Years. . . . . . . . . . . . . . . . . . • . . . . . . • • • 40
Table Showing the Rate Per Cent, Realized on Stocks Purchased at Different Prices.. . . • . . . . . . . . . . . . . . . . . . . . . • • 41
United States Debt and Securities-Debt of the United States, 1793-1892............. •. . . . . . . .. . . . .. . . . • • •. . • • 43
Highest and Lowest Prices of United St.ates Bonds, monthly, 1860-1892........................ . ................. 44
State Securities-Highest and Lowest Quotations of State Securities, 1860-1892.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . • • . . . . • 53
Railroads and Their Securities-Railroad Statistics for the United States............ . ............. . .. • . •• •• • 56
Railroad Earnings in 1891 and 189B.......................... .. . • . . . • •. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • 51'
New York Stock Market-Review for Five Years .............. . ..•.......... •.•• .....•...........•......
Highest and Lowest Prices MonthlyRa!lroad
Railroad
Railroad
Railroad
Railroad
Railroad
Railroad
Railroad
Bonds _in New York.·••···.••·········· } For five years 1888-1892 .... . .. . .. .. .... -~ .............. j 5 8
19 1
'
and Miscellaneous Stocks m New York
Bonds in Boston. . . . . . . . . . . . . . . . ..• , •
Stocks in Boston.. • ................. .
104
Bonds in Philadelphia. •..... • • • • •. • • • · Fo the y ar 189'>
... · · · · · · • · · · · · · · · · · · · · · · · · • • • • • • • • ....•..•
e
r ·
Stocks in Philadelphia. • . . . • • . . . . . . . . . .
Bonds in Baltimore ...•..••.•..•.•.••
Stocks in "2altimore. • . . . . . . • • . . • . ....
1
j
Tbe Jnve8tors' Supplement-(Issue of January 28, 1893, bound up _with the REVIEW) ........................ APPENDIX.
Article Showing Dividends for Seven Years on Railroad Stocks in New York, Boston, Philadelphia and Baltimore.
I
Railroad Stocks and Bonds-Description and Financial Condition of Companies, with Earnings, Maps, &c... •• •
VI
N. Y. & Brooklyn Trust Companies ............. • • . • • • • • • • • • • • • • · • • • , • • • • • • • • • • • • , • • • ...... • •...•.•••.••.•• CLXIII
New York Bank Stock Table ...•. , . , ••...• · , · · . • · • · · · · · · · · · • • · · · · · · · · · · · · • • · · · · • • • · .. , • · •.•.......•...•... CLXIV
New York Fire Insurance Stock LiMt ..•...... • •· • • • • • •· • • • · • • •· · • ·· · • •· · • • · · • •· · • • • • • • • • • • • • ....•.......•.. CLXIV
City Horse Railroad Stocks and Bonds ...... • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • ~ • ...•• • • .........•.•..•••. CLXIV
New York and Brooklyn Gas Companies' Stocks and Bonds .... , • • ......•...•..••..••...•..••...•.••••••. . ••••• CLXIV
'Railroad Gross Earnings by months for Four Years Past on Leading Road.q ...•...•.•..••..••..••..••.••..•.••••• CLXV
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
-.
THE
1
REVIEW.
FINANCIAL
1893.
,
RETROSPECT OF 1892,
Business trans1tctions in the United States during
1892 were of greater volume than in any previous year
and the bank clearings exceeded those of 1891 by
9·1 per cent. The foreign trade movement was large
beyond precedent, particularly in the imports of merchandise, and for the twelve months ending with December the total exports and imports of merchandise
amounted to $1,814,618,072 against $1,798,830,589
in 1891; the net exports of gold for the year were
59,045,524 against $34,116,471 in 1891. The general
results of business as shown by the total failures were
by no means unfavorable, since the amount of liabilities
involved was only $114,044,167, against' $189,868,638
n 1891.
In looking for the controlling influences of the year
we find chief among them the continued agitation of
the silver question. Congress kept the subject fresh
by attempting to pass a free-coinage bill; the Treasury
purchased 4,500,000 ounces of silver bullion per month
as required by the Act of July 1890, issuing therefor
its legal-tender notes payable "in coin;" and late in
November the International Monetary Conference met
in Brussels and discussed the whole silver question in
ts various phases without arriving at any definite
conclusion. The silver status in this country prejudiced
the minds of foreign investors against our securities,
and had much to do with the balance of trade and the
export of gold. The lowest price touched by silver
certificates in ew York was 82¼, on August 12.
The effect of the great crops of J.R91 was oiearly
visible in the first six months of 1892; the t onnage on
the railroads and the exports of domes tic products were
of immense volume and business was stimulated in all
<!irections, except in those localities where depression
had been caused by the low price of cot ton or by other
special and exceptional influences. On. the other
hand, the last half of the year presented a far less
favorable aspect ; the corn and grain crops were
much below those of 1891, and the yield of cotton
was estimated to fall more than 2,100,000 bales short
of the famous crop of the previous year.
_ Our local money market was easier than in any year
since 1888, and there was no real scarcity of loanable
funds until December, when there was some pressure,
owing partly to gold exports, and the rates for Gall
money rose temporarily, reaching 40 per cent as a maximum. The city bank reserves never fell b81ow the
legal 25 per cent require ment, and the nearest approach
to it was on the 15th of October, when the reported
surplus was only $539,050. The actual addition to
the coin and currency of the country was $16,251,029,
this being the net result from the issue of notes against
silver purchases, the changes in national bank notes,
exports of gold, and other operations affecting the
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
circulating medium. In regard to Stock Exchange
dealings, the establishment of a stock clearing systern on May 17, commencing with four leading
stocks, was an event of importance, and the plan
continued to work well, the number of stocks embraced in the clearing system at the end of December
being sixteen. On Dec. 2 the death of Mr. Jay Gould
was announced but caused no excitement in the market.
Any review of the business year would be incomplete
without reference to the Presidential election in N ovember, which passed without excitement; also to the Homestead riots at the Carnegie mills, near Pittsburg, which
began in July, the strike ofrailroad switchmen at Buffalo
in August and the cholera panic in New York in September. The strikes of the iron workers at Homestead
and of the switchmen at Buffalo were attended by
such riotous conduct that the militia had to be called
out in each case and remain on guard for some weeks,
and both strikes resulted in complete failure. The
cholera scare in New York interfered with busintlSS
during September, and was accompanied by many unpleasant and exciting incidents at quarantine, including
the landing of passengers at Fire Island.
In production of coal and iron and manufaotures of
cotton, wool, &c., the year was one of great activity.
The anthracite coal trade was stimulated by the famous
Philad~lphia .~ Reading combination in February, and
although prices wer~ advanced the distribution of coal
was heavier t han ever before.. _Iron production was also
large, particularly in the first ;ix-m<?nths of the year,
and for the t welve months ending with--December the
total product of the United States was l0~]B-5,840 tons
of 2,000 lbs., against 9,273,455 tons in l S!}l,~ and
10,307,028 tons in 1890, which had been the hea~teSt __
year on record.
GENERAL suMMARY FOR
Two
YEA.Rs.
1891.
1892.
Coin and currency in U. 8. Dec. 31..$ 1,748,684,894 1,764,935,923
Bank clearings in United States ..... $ 56,946,841,805 62,109,062,074
Business failures ..................... $
l189,868,638
114,044,167
Sales at N. Y. Stock E1rnhange.shares.
69,031,689
85,875,0~2
Sales at Consol'ted Exchange.shares.
27,332,929
33,554,085
Petroleumcert'satN. Y.St'kEll.bbls.
2,946,000
908,000
"
"
at Consol. Ex. bbls.
17,525,000
6,930,700
Grain and flour at Prod. Exch'e.bush. 2,231,975,537 1,585,154,365
Cotton at Cotton Exchange..... bales.l
26,692,300
43,359,500
Imports of merchandise ............
828,320,943
876,198,179
Ext>0rts of merchandise.............
970,509,646
938,419,893
Ne exports of gold..................
34,116,471
59,045,524
Gross earnings 174 roads............
881,467,492
926,377,747
Railroad constructed ............ miles.
4,500
4,100
Wheatraised ....••... ---······bushels.
611,780,000
515,949,000
Corn raised ..... - ..............bushels. 2,060,154,000 1,628,464,000
Cotton raised ...... -...... _...... bales.
9,038,707 (est.) 6,875,000
Pig iron produced. (tons of 2,000 lbs.)
9,273,455
10,255,840
Steel rails, Bessemer. (tons 2,000 lbs.)
1,448,219
(1)
Anthracite coal. .. (tons of 2,240 lbs.)
40,448,336
41,893,320
Petroleum (runs) production .... bbls.
34,486,923
32,761,466
Immigration into U. 8 ...... -..........
590,666
543,487
Pub.land sales (yr.end'gJune30)acres
8,151,939
9,328,863
NOTE.-The sales at the New York Stock Exchange include all shares
of stock except bank stocks and alt trusts except petroleum certificates
so~d in barrels. Bales at the Consolidated E,cchange both in tne case of
railroad stocks and in the case of pipe -line certitl,·ates represent
the actual sales as compile 1 by us from the daily transactions; the
!.'ales of petroleum certiflcate11 cover also B nokeve eertificatee
Grain and flour at the Produce Exchange include flour reduced to wheat
!:'t 4¼ bushels ver barrel. Cotton sales at the Cotton Exchange do not
mclude "exchan~es" of futures. Immigration statistics are given
exclusive of immigrants from Canada or Mextco.
·1
RETROSPECT.
2
The year 1892 was singularly free from great and
unexpected disaa ers in the manufacturing, mercantile
and banking ,1ommunity. Late in 1890 the great
Baring crisis had occurred, and in 1891 the effects of
that reaching over, together with the lack of business
from the small crops of the previous summer, led to so
many failures in the first three quarters of the year as
to make the total amount of liabilities for the whole
year 1891 almost exactly the samo as in 1890, the
figures for each year being nearly $190,000,000, notwithstanding the great improvement in the last quarter of 1891. But in 1892 the circumstances were reversed, and in all sections of the country except the
South and the Pacific coast the stimulus furnished
by the great crops ·of 1891 was clearly perceptible.
Taking a general view of the dealings at the leading Exchanges, we find that on the New York
Stock Exchange there was no season of extraordinary
buoyancy and activity after the great Reading deal in
February. The chief movements of the year were in
special stocks, and largely in the so-called industrial
stocks, which were boomed for one cause and another
peculiar to themselves. But if the year was not equal
to some others in large profits, it was remarkably free
from heavy losses and failures of bankers or stock
brokers. The total sales of stocks at the N. Y. Stock
Exchange were 85,875,092 shares, as against 69,031,689
n 1891, and of railroad and miscellaneous bonds
$485,857,400, against $383,715,000 in 1891.
At the Produce and Cotton Exchanges in New York,
and the Boards in other cities throughout the country, dealings were somewhat affected by the Anti-option
Bill pending m Congress, which ceased to be an obstruction only when Congress adjourned in July. Our
Produce Exchange had a large business in the early
part of the year with the varying prospects of the new
crops at home and abroad and with the large crops of
1892 to handle. But the tendency of prices during the
year wa3 downward, and the losses on the decline of
wheat must have been very large. The to.taLsa!e.s of all
grain., including flour reduced to l!u.shels, amounted·-to
only 1,585,154,365 bushels-;-against-2,231,975,537 in 1891,
The Cotton E,Jclranges North and South had a
lively busine~~,....-jn the first half of the year all was
depressi9_ti,·-and the price of cotton declined to abnormally-low figures as the size of the great 9,000,000
___ ---bal; crop was unfolded from month to montp. and
middling uplands touched 6 1 l-16c. in New York early
in .April. All kinds of business in the South felt the
losses on cotton and failures in that section were relatively large. In the autumn months there was a
great improvement; cotton jumped up rapidly on a
speculation based on the small crop reports, and much
money was made by holders and by speculators on the
bull side. The total sales of the year at the N. Y.
Cotton Exchange were 43,359,500 bales, against 26,692,300 bales in 1891.
The following table shows the failures in each quarter
for every year since 1878 :
MERCANTILE FAILURES IN THE UNITED STATES.
Y-e-a-rs-.l-ls-t-Quarter. 12d
~
~~a~~~. 3d
1879 $43,112,665 $22,666~725
1880. 12,777,074 20,111,689
1881 _ 24,447,250 16,499,395
1882 . 33,338.2711 17,242,649
1883. 38,372,643 27,816,391
1884 . 40,186,9713 84,204,304
1885 _ 46,l'.Zl,051 28,601,304
1886. 29,681,72611 20,752,734
1887 . 32,161,7()2 22,976,330
1888 - 38,884,7891 29,229,370
1889 _ 42,972,516 22,856,337
1890 _ 37,852,968 27,466,416
1891 _ 42,167,631 50,248,636
1892 . 39,284,349 22,989,331
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Quarter. 4th Quarter. Total Year.
1
$15,275,550
12,121,422
10,112,365
18,942,893
52,072,884
56,627,821
23,874,391
27,227,630
73,022,556
22,114,254
39,227,045
35,452,436
44,302,494
18,659,235
$17,094,113
20,741,815
30,096,922
32,023,751
54,612,254
4.5,324,324
25,623,575
36,982,029
39,400,296
33,601,5601
43,728,439
89,085,144
53,149,877
33,111,252
$98,149,053
65,752,000
81,155,932
101,547,564
172,874,172
226,343,427
124,220,321
114,644,119
167,560,944
123,829,973
148,784,337
189,856,964
189,868,638
114,044,1617
Un the first of January it is interesting to compare
the general :financial situation in New York for a few
successive years and to observe the changes in bank
figures} in the rates for money and exchange, and the
prices of silver and leading securities and articles of
merchandise. The table below shows at a glance these
relative statistics for three years, and the figures are
quite suggestive. In the bank statements the large
gain since Jan. 1891 in the line of deposits and loans and
discounts indicates the general increase in the volume
of business with the banks, although as compared
with Jan. 1892 there was a decrease in these items. The
high rate for sterling bills at the opening of the year
1893 is in strong contrast to previous years, and shows
up well the situation of affairs in which gold exports are
possible at a time when in other seasons they were
quite unusual. Next to this, and not altogether dissociated from it, is the price of silver, which declined
in two years from 105 in January 1891 to 83 in
1893, notwithstanding the compulsory purchases by
the United States Government of 4,500,000 ounces per
month und.er the law of July 1890.
The prices of U. S. bonds and of a few leading railroad stocks, embracing trunk lines, Western or granger
stocks and anthracite coal roads, also present some interesting changes, although these have not all set in one
direction, and the particular securities have varied according to the influences bearing on their respective values.
The prices of merchandise form a brief history by
themselves. We see reflected in them the effects of
our great crops of 1891 and the scarcity in Europe that
year; our smaller crops of 1892, including the notable
decrease in cotton; the advance in anthracite coal prices,
and the low prices of pig iron, notwithstanding the
ever increasing demand for consumption. One of the
Jil0St striking changes in 1893 is in the price of wheat,
which shows a decline of about 25 cents per bushel.
This is due to the better situation in foreign countries
and to the pressing of wheat to market at the West,
notwithstanding the large decrease in production in
1892 as compared with the preceding year.
The following summary shows the condition of the
--ew York City Clearing-House Banks, rates of foreign
exchange and prices of leading securities and articles of
merchandise on or about Jan. 3 for three years.
SUMlllARY ON OR .A.BOUT JANUARY
3 IN 1891, 1892 AND 1823.
1891.
1892.
1893.
- - - - - - - - - - - - - - - • --1 ----•1---- N L~ait~n!aJt:iounts ..... .. -·. $ 385,678,500 438,616,400 437,722,(0!1
Specie . .....•...•..• • •••.••... ··* 78.tH:i3,200 95,972,:tOO 75,~ti8,~UO
Circulation .••..••...•....... -· .!I'
3,599.~00
5,537,400
5,o54,oUO
Net deposits .................. _.$ 386,632,100 466,218,:W< • 441,5~~,400
Lei.al ten<lers .••. ·-····-··-····5
Surplus reserve held .. , .•..... $
26,571,700 37,814,4<10 42,0l!-<,60u
8,e 76,875 17,232,050
o,t:S39,5t>O
Money, Ex,hunge, Silver-
5 'iv 8
Callloana .• •.... --···········-·-·
Prime vaper, 60 days ...•...... - 6½@ 712
Silvt-r in London. per oz ........
48¾3 d.
Bil ver Certiticates 1n N. Y...... 10412-105
Prime stt-rling bills (demand).
4 85
United States Bonds6s, currency, 1>- 98 . • • . . . • • . • •• . . 118 bid,
4s of 1907, coupon .......... _... 121 bid.
Railroad s,ocks-
N. Y. Central & Hudson River_
Erie (N. Y. L. E. & W.) ----···· .
Lake Shore &::.\iiohiganSouth'n.
Michigan Central .• ............ .
Cllioago Rook Island & Paoiflo .
Illinois Cenrr.. l. _...... _... . . .. .
Chicag-n & No•·thwe11ter n, com.
Cllic. Milwaukee & St. P. com.
Dd"'w re Lackawanna & West
Ct'ntral of New Jersey .•....•.
J!Prclto ,dise-
1013s
191s
10614
91
703s
97
1041Ss
51
131¼
106¼
@
5 7
3
6
434@ 5¼
4;, ~d.
38
8
9 ..,
4 84¼
4 8712@8734
1d.
11512 bid.
116¼ bid.
11634
341.g
1231.g
106
8914
1091.g
1161.g
8258
139
113
11212b1d.
11312
109
~4
12014
104¼
82 7s
9»12
112
7734
154
126
9 7s
C ,tt n, mirldling-upl'ds, per lb_
9°16
75s
63-t
Standard sbeer1ug.i, 36 in_.
714
6 34
28
1z>29
Wool,ObioXX .. -··--·- · · -·- lb . 33 @34.
30 @:H
Iron, Ami-r1can pig, No. 1._ton l6 50•17 50 16 00·17 00 L5 00-15 50
29
00
Steel rail8 at mills- .• ····-·-ton
29 00
30 UO
4 75
Anth'te Coal, Wi1ke11. stove .. ,on
415
3 90
7934
Wi,eat. No.~ red winter._bush_
10334
1 0434
4914
Corn. West. mixed No. 2-. bush
59
5214
16 2r,
Pork, mess_ .....•...... -Per· bbl ll 50@12
10 uo
3;16
SuJ;lar, o.-ntrifugal, 96 de~ ... lb.
514 c.
33s c.
17
Coffee, R io ~o. 7 .-··········,·lb.
17¼
1314
5214
Peuoleum Pipe Lme certifl s...
74
60
RETROSPECT.
ESTIMATG OF CROP VALUES IN NEW YORK ON JANUARY
AGRICULTURAL PRODUCTS.
The season of 1892 presented a strong contrast to that of
1891 in the yield of agricultural products. It is seldom that
two successive years point up so sharply the vicissitudes of
farming anl planting in the United States and the great
differences in commercial results between years of plenty and
yeara of scarcity. A s to wheat, the extraordinary conditions of
1891 were just reversed. In that year we had the unusual
combination of an immense crop here, coupled with a famine
n Russia and partial crop failure in France, leading to very
high prices. But in 1892 the crop, owing to the large visible
supply in the markets of the world, was worth only about 63 ·2
cents per ·b ushel to the farmers (as estimated iu November)
against 83·9 cents in 1891, although our own crop of wheat was
eatimated to be over 95,000,000 bushels less than in the previous
year. The yield of corn is e3timated to be 431,690,000 bushels
lt> s than in 1891, or about 21 per cent decrease, and oats 77,359,000 bushels less, or abou~ 10½ p er cent ; but corn and oats,
being mainly consumed at home and therefore less dependent
on the foreign markets, did not rule as low as wheat. From
the Agricultural Bureau report the average yield per acre is
figured as follows: Wheat, 13·4 bushels; oats, 24·4; rye, 12 7;
corn, 23·1, and potatoes, 62·0. The latest report of the Bureau,
made on Jan. 4 1893, gave the following summary:
Corn-Area, 70,626.658 acres ; product, 1,628,4fi4,000 bushels ; value, $642,146,630.
Wheat-Area, 38,554,430 acres ; product, 515,949,000 bushels ; value, $322,111.881.
Oats-Area, 27,063,835 acres; product, 661,035,000 bushels;
value, $209,253,611.
In cotton production the year was quite extraordinary and
the yield of 1892 i!:' estimated to be over 2,000,000 bales
short of the "bumper" crop of 1891. 'l'he extreme depression in price during the planting season, owing to the
mmense stock in sight in the markets of the world, led to a
considerable reduction in acreage, and this, combined with
the smaller use of fertilizers and the unfavorable weather
. caused the great decline in production above noted. The following table shows the crops of wheat, corn and oats as estimated by the Agricultural Bureau anti the crops of cotton as
.reported yearly by the CHRONICLE.
CROPS OF WHEA1', CORN, OATS AND COTTuN SINCE
Year.
1878 . . . . . . . . .
1879 (Census)
1880 ..........
1881 . .........
1882 . .........
1883 ..••......
1884 --···. --·
1885 ..........
188 6 . ........ .
1887 ---· .. ---·
1888 ...•......
1889. _.•... __ .
1890..... .••••
1891. ••.... --·
1892 ... __ .. __ .
I
Wheat.
Bush.
1877.
Corn.
Oat s.
Cotton.
Bush.
Bush.
Bales.
420,122,400 1,388,218,750 413,578,560 5,073,5 31
5,757,397
459,483,137 1,754,591,676 407,858,999
498,549,868 1,717,4.34,543 417,885,380 6,589,329
383,280,090 1,194,916,000 416,481,000 5,435,845
504,185,470 1,617,025,100 488,250,610 6,992,234
5,714,052
421,086,160 1,551,066,895 571,302,400
5,669,021
512,765,000 1,795,528,000 583,628,000
6,550,215
357,112,000 1,936,176,000 629,409,000
6,513,623
4 57,218,000 1,665,441,000 624,134,000
7,017,707
456,329,000 1,456,161,000 659,618 ,000
6,935,082
415,868 ,000 1,987,790,-000 701,735,000
490,560,000 2,112 ,892,000 751,515 ,goo 7,313,726
399,262,000 1,4 89,970,000 523,621, 00 8,655,618
611,780,000 2,060,154,000 738,394,000 9,038,707
6_6_1,_0_3_5_,0_0_0_•_6_,8_7_5_._oo_o
1,;_6_2_8_,4_6_4_,o_o_o__
515,9_4_9:...,0_0_0__
* Current estimates.
Tne large supply of wheat carried over from 1891 and the
pressing to market of the new crop, together with the better
outlook abroad, were the causes for a serious depression in the
prices of wheat in the later months of 1892, and on Jan. 1
1893 the price of No. 2 red winter in New York was 79¾
cents, agamst 104¾ cents the previous year. Corn and oats
were much better supported, as the diminished ~rops materially affected the prospect of the ho;:ne markets. With cotton
all was differclnt from the preceding year. The great falling
off in the yield was made the most of by speculative interests
to push up and keep up the price, and cotton in this market
was selling at 9½ cents per lb. for middling uplands in New
York in January 1893 against 7% at the same time the year
before.
As to prices of products received on farms and plantations,
he Agricultural Bureau report gave the following estimates
n Novembn compared with previous years:
.AVE ,tAGlll PRIC ES REC IUVED BY FA RME R S .A.ND PLANTERS.
- -
1887.
1888.
Cents.
Cents.
0
1889.
- - - - - - -1---- - - - --Wheat, per bushel .
Rye, per bu hel .•
Oats, per bushel....
Barley, per bushel..
Corn, per bu hel....
Cotton, per pound
68 ·1
54·4
30·4
52·2
44·4
8·5
92·6
59·1
27·8
59·6
34·1
8·5
Cents.
68 ·8
45·7
23·0
4\Vi
28·3
8·6
· 1890. - 1891.-
1892.
Cents.
Cents.
- - - - -- - - - Cettts.
83·8
62·9
42·4
64·8
50·6
8·6
83·9
77·4
31·5
54 ·0
40·6
7·3
63·2
54·8
31·6
47·2
39·3
8·4
Taking the values in New York City about the 1st of January following the crop, we find that if the whole of each crop
could have been laid down in New York at that date the
values would have been approxunately as follows.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
3
Crop of 1891.
Crop of 18P2.
y·18Id
•
Price,
Jan. '93
Wheat.bush. til5,949,000
Corn ... bush. 1,628,4.64,000
Cotton.bales est.6,876,0001
cts.
79~
49~
9¼
1.
Value of
Crop.
Value of
Crop.
Price.
J ,m. 'fl2
Yield.
1- - - - -1- - - - -1
$
cts.
$
640,839,550
411,169,827 611,780,000 104~
802,018,520 2,060,lM.000 527-{ 1,076,430,4fl5
SH,f:100,704_
7~
{1,088,707
889,453,125
2,0:n, 70,719
Total valuesJ. ................... 1,552,64u,972 .. . ..........
Exportg of domestic products in the first six months of 1892
were very large, as might have been expected from the enormous crops of the preceding year. The total value of merchandise exports from the country in that p eriod was $479,000,000 against $4:19,000,000 in the same time of 1891. Tne
export of wheat, including flour reduced to wheat, was
96,517,512 bushels against 59,079,248 in 1891, and cotton
2,568,531 bales against 2,600,522. But in the last half of the
year, owing to the smaller crops raised and the smaller de
mand from Eur0pe, the conditions were changed, and exports
fell much below those for the same period in 1891. For the
six months ending December 31, exports of wheat (including
flour) were 107,114,090 bushels against 129,166,299 in the same
time of 1891; corn 20,408,518 bushels against 18,587,158, and
cott@n 2,585,410 bales against 3,327,330. In the table following
the exrort are given for the Government fiscal year ending
with June 30;
I
EXPORTS OF FLOUR, WHEAT, CORN AND COTTON SINCE
Wheat Flour.
Barrels.
Year ended June 30.
1882... ·- .. .... .. ....
1883.................
1884 . ........ ·- .. ....
1885. .. . . .. ....•. .. ..
1886..... ............
1887... .. . . . . . . . . . . ..
1888 .. -- ... ··-- -- . .•.
1889 .........•....... 1
18 90.................
18 91.... . -· .. .... ..
1892 . ......... ····- ..
5,915,686
9,205,664
9,152,260
10,648,145
8,179,241
11,518,449
11,963,574
9,374,803
12,231,711
11,344,304
15,196,769
1881.
Wheat.
Bushels.
Corn.
Bushels.
Cotton
Bales.
95,271,802
106,385,828
70,349,012
84,653,714
57,759,209
101,971,949
65,789,261
46,414,129
54,387,767
55,131,948
157,280,351
43,184,915
40,586,825
45,247,490
51,834 ,416
63,655,433
40,307,25 2
24,278 ,417
69,592,929
101,973,717
30,768 ,213
75,451,849
3,694,706
4,626,808
3,884,233
3,9 69,568
4,28 3,723
4,499,579
4 ,696,017
4,872,060
5,020,913
5,8 20,779
5,891,411
-
UNITED STATES PUBLIC LANDS.
The sales of public lands in the year ending June 30, 1892,
exceeded by about 1,175,000 acres the sales of the preceding
year, which were indeed the smallest of any year since 1878.
It is probable that the fine yield of crops in 1891 had much to
do in stimulating homestead entries, as all the increase was
in this class, while the sales for cash were considerably less
and the timber-culture entries have almo3t disappeared, as the
laws providing for these have been repealed. In the tables
below only those lands are included in each year which were
presumably taken for settlement, as lands patented to railroads or swamp lands to States are only tranferred from the
General to the State governments or to railroads.
Tee following table will sqow the sales for a series of years
past and vacant lands yet undisposed of. In Texas there are
no United States lands.
DISPOSALS OF PUBLIC LANDS FOR CASH AND UNDl!]R TH ~l HOMESTEAD
AND Til1BER CULTURE LAWS BY FISCAL YEARS FROM
JULY 1 1889 TO JUNE 30 1892, AND LANDS
UNDISPOSED OF ON JUNE 30 1 89 2.
,----Lands disposed of--,
1889-90. 1890-91. 1891-92.
States and
A cres.
Acru.
Acres.
Ter ritories.
338,602
205,530
Alabama.... . 323,550
146,863
Arizona .... . . 117,348
89,127
306,717
261,686
Arkansas .... . 339,639
715,343
797,558
776,268
California... .
456,830
585,904
Colorado . ... . 929,237
499,868
330,071
N'th. Dakota. 442,330
698,277
470.758
S'th. Dakota. 692,567
158,318
126,711
l'lorlda •.. . ..• 153,830
251,731
339,261
Ida.ho ......• 296,850
3,159
4,865
3,374
Iowa. ....•....•
81
3
Indiana .....
44
516
196
Illinois.......
401,284,
375,651
Kansas....... 696,049
131,867
163,147
L ouisiana..... 167.611
104,102
110.959
Michigan..... 120,619
452,978
288,~
Minnesota . .. 277,750
182,041
238.720
M ississippi... 283,767
218.817
206,410
Missouri. . .... 187,787
294,,551
413,880
Montana . . . . 314,562
667,055
575.573
Nebraska . . .. 1,250,192
4,928
3,919
4,133
Nevada. . . . . .
161,825
157,695
N e w Mexico. 170,580
275
186
Ohio..........
296,874 1,583,135
Oklahoma ... 1,083,691
607,087
728,343
Oregon....... 654,101
126,947
136.640
Utah ......... , 161,810
569,332
909,056
Washington. 903,065
177,542
146.935
!:17,407
Wisconsin...
162,327
149,227
Wyoming.... 183,158
,-Lan ds undisPosed of June 30 '92
Total
Surveyed U nsurveyed
A ct·es.
80 7,IH7
11,925,460
5,091,313
34,970,286
36,858,798
6,425,985
6,182,216
2,007.157
4,422,571
734,080
1,071,129
724,232
2,767,971
978,418
808,799
11,842,217
10,674,332
29,958,237
39,333,082
6,324,863
24.166,334
7,024.133
6,079,567
871,087
88,641,789
A cres.
42,683,071
15,061,955
5,139.579
13,074,570
6,824,180
799,430
29,802,578
1,389
3,742,640
62,715,926
125,000
12,427.497
15,387,781
14,269,589
28,207.333
14,018,853
13,413.509
A cres;
807,947
54,608,531
5,091.813
50,032,241
41,998,377
19,500,555
13,006.396
2,806.587
34,225,149
734,080
1,172,518
724,232
6,510,611
978,418
808,799
74.558,143
10,799,332
42,385,734
54,720,863
6,324,863
38,435,873
85,231,466
10,098,420
871,087
52,055,248
Grand total.10,621,652 8,151,939 9,328,863 289,691,953 277,794,830 567,466,783
RETROSPECT.
4-
In the table following are shown the sales and the free
entries under the homestead and timber culture acts in each
fiscal year ending June 30 for fifteen years.
Production of iron and steel since 1880 has been as follows :
IRON AND STEEL PRODUCT SINOE
Tons of 2,000 lbs.
UNITED STA.TES PUBLIC LA.ND SALES FOR FIFTEEN YEARS.
..
I
Yearendmg
June 30.
1878 .•••...••.. .
1879 .••....•... .
1880 .•.....•....
1881. .......•...
1882 .••......•..
18~3 .•..........
1884 ............
1885 ............
1886 ............
1887 ............
1888 ............
1889 .•.•..•.....
1890 .•. • ...•....
1891. .....•.....
1892 ............
For
Cash.
Homestead
Entries.
.A.ores.
.A.ores.
I
l
877,555
622,574
850,741
1,587,618
3,611,531
5,547,610
6,317,847
3,912,450
3,773,498
5,587,910
5,907,155
3,881,305
3,302,571
2,142,539
1,571,426
I
4,418,345
5,260,111
6,045,570
5,028,101
6,348,045
8,171,715
7,831,510
7,415,886
9,145,135
7,594,350
6,676,616
6,029,230
5,531,678
5,040,394
7,716,062
Yea.rs.
Timber
Culture
Entries.
Total.
.A.ores.
.A.ores.
1,870,434
2,766,574
2,193,184
1,763,799
2,566,686
3,110,930
4,084,464
4,755,005
5,391,309
4,224,398
3,735,305
2,551,069
1,787,403
969,006
41,375
7,166,334
8,649,259
9,089,495
8,379,518
12,526,262
16,830,255
18,233,821
16,083,341
18,309,942
17,406,658
16,319,076
12,461,604
10,621,652
8,151,939
9,32~,863
MANUFACTURES, IRON, COAL, PETROLEUM.
Cotton manufactures in the year ending August 31 1892,
as reviewed in the CHRONICLE'S annual cotton crop report,
showed an estimated consumption North and South of
2,806,471 bales, against 2,530,916 bales the previous year.
The trade was depressed in the greater part of that year by
the steadily declining price of cotton, which touched 6¾c, for
low middling and 611-16c. for middling uplands in New York
in the first week of April, and those manufacturers who had
purchased cotton heavily at higher prices made a loss on
such purchases. When the tide had turned and cotton began to advance the situation was reversed, and manufacturers
who were stocked up made large profits. The dividends paid
by Fall River mills showed a handsome increase over 1891.
In wool and woolen goods the trade was fairly prosperous.
The sales were large and prices after the early months of the
year were steady, the fall demand for goods was very active,
and the year closed with a healthy feeling.
Iron production in the first half of 1892 was large beyond
precedent, stimulated by the heavy demand for consumption
in the building trade and in mechanical work of all sorts. The
output of pig iron from January to June inclusive was re•
ported at 5,342,045 tons of 2,000 lbs. each, against only 3,772,280 in the same period of 1891. In the last six months of the
year the production was relatively smaller, but the total production for the year 1892 in net tons of 2,000 lbs. was 982,385
tons more than in 1891.
In the past five years there has been a decrease in the importations in each and every year, and these changes in the
importations ha.-e of course affected the total consumption of
iron, foreign and domestic, from year to year. In the following is shown this total consumption for each year back to 1887.
Tom 9f 2,000 Pownd.s. ~~.::.._ _!891.
St'kofpigbegin.ofyr.
702,501
741,281
1890._ ....:._~
317,945
336,161
1888.
338,142
I 1887.
252,70i
Pr;:t:t:u:::~~ ~~~~: ~:::::::~ 1::::::::: ~:::::~: :::~:::: :::::::1~:: : ~:
Stock end of yeai·• . ..
599,890
702,501
741,281
817,945
336,161
338,142
1880,
Pig Iron.
Bessemer
Open Hearth Bessemer
Steel Ingots. Steel Ingots. Steel Rails.
146,946
160,542
133,679
131,617
149,381
245,250
360,717
352,036
419,488
574,820
649,323
1881............ 4,641,564
1882............ 5,178,122
1883............ 5,146,972
1884............ 4,589,613
1885............ 4,529,869
1886...... .. .... 6,365,328
1887......... .•. 7,187,206
1888............ 7,268,507
1889....... .. ... 8,516,079
1890....... .... . 10,307,028
1891............ 9,273,455
10,255,84J
1892 ... . -~
(1)
1,539,157
1,696,450
1,654,627
1,540,595
1,701,762
2,541,493
3,288,357
2,812,500
3,281,829
4,131,535
3,637,107
1,330,302
1,438,155
1,286,554
1,116,621
1,074,607
1,763,667
2,354,132
1,552,631
1,691,264
2,091,978
1,448,219
(1)
(1)
l
j
.Anthracite coal production was stimulated by the famous
combination in February through which the Philadelphia &
Reading Railroad leased the Lehigh Valley and Central New
Jersey roads. The price of coal was advanced but the distribution was very large, and the stocks on band at tidewater shipping points were slightly reduced. The price of
Wilkesbarre stove coal on Dec. 31 was $4 75, against $3 90 in
1891. The total production of the year was 41,893,320 tons,
against 40,448,336 in 1891. The extended article in the
CHRONICLE of January 21,1893, on page 105, showed that, allowing for the changes in stocks, the nominal or apparent con
sumption was as f~llows:
JanuaT'IJ 1 to December 31.
December.
Anthracite Ooal.
--- - - 11890,
1892.
1891.
1892.
U!90.
1891.
7bns.
Tons.
7bna.
itock begbull.ng ..
Tons.
7bns.
7bna.
732,,1,53
608,479
637,846
of period ......
754.4.32
535,652 1.026,107
Production . . •••..• 3,596.081 3,587,971 3,065,208 41,893,320 4.0,!l48,336 35,856,174
- --
----
-
---
-
---- - - -
Total supply .. 4,328,531 !l,225,817 3,673,687 42,647,752 4.0,983,988 86,881,281
754,432
657,868
535,652
:Wk end of period
657,868
535,652
764,432
--- --- -- - --- --- ---
Disposed of .... 3,670,666 3,471.385 8,138.085 41,1)89,884 40,229,656 36.84'5,62 9
Thus the companies disposed of about 42 million tons in
1892 (stocks at interior storage points being necessarily disregarded) ag&.inst about 40¾ million tons in 1891, 36½ million
tons in 1890 and but 35 million tons in 1889. The following
gives the shipments by regions in each year since 1878.
A.NTHRACITE COAL SHIPMENTS TO MARKET.
Years.
(Tons of 2,240 lbs.)
Wyoming. Schuylldll.
1879 .... •. .... . . .... .. ....
1880 . .. ... ... . .... ........
i.881 .......... ... . . .......
1882 .................... ..
1883 ........ . ............
1884 ... ... ......... .. .. ..
1885 ............ .... . . ....
L886 ......................
1887..... ... .. .. ......... .
1888.............. ... ....
1889..• •.. .... . .•.........
l l:90 .......•..... . ..... ...
1891. ... ... . .. ..... ..... . .
18112 ................ ··•• ·
Tons.
12,586,298
11,419,279
13,951,383
13,971,871
15,604,492
15,716,455
16,236,470
17,031,826
19,684,929
21,852,366
18,647,{!25
18,657,fl94
21,825,240
22.815,460
Tons.
8,960,629
7,5114,742
9,258,958
9,45{!,288
10,074,726
9,478,314
U,4~,426
9,381,407
10,609,028
10,654,116
10,474,864
10,867,822
12,741,258
19,62fl.784
Lehlgh.
Total.
Tons.
4,5!!5,567
4,463,221
6,2M,676
5,689,487
6,118,80\I
5,562,226
5,898,688
5,723,129
4,847,060
5,639,236
6,285,421
6,329,65~
6,381,888
6,451,071:1
Tons.
26,142,689
23,487,242
28.500,017
211,120,096
31,798,027
80,75d,W5
31,628,5211
32,186,362
84,1\41,017
88,145,718
85,407,710
85,855,174
40,448,886
41,1'98.S20
Stocks at
Tidewater
points end
of Year.
Tons.
........
·······
········
662,116
748,830
874,681
754,545
872,282
13(',977
652,106
l,02!1,107
5~5,652
7M,482
657,S62
The petroleum product continued large during tbe year
and the Buckeye runs amounted to 13,925,557 bbls., against
14,515,767 bbls. in 1891, while the deliveries were 16,631,734
bbls. against 13,174,460 in 1891. The stocks Dec. 31 were
18,604,442, against 22,103,704 in 1891. The old Pipe Line runs
In the following is given the production by States for each were 32,~61.466 bbls., against 34,486,923 in 1891.
The old Pipe Line runs and deliveries in each caiendar year
of the last seven years.
PRODUCTION OF PIG IRON BY BT.A.TES.
since 1881 and stocks at the close of the year and the exports
for the fiscal years endmg June 30 have been as follows:
Consump. of home pig 10,358,451 9,312,235 9,883,6!12 8,534,295 7,270,488 7,101,768
lmp'tsofiron&steel. ~~.ooo ~.728 _ _2'~~~ ~3'.:,3761,0~.~ 11,997,247
Tot. ~nsUI!lp,, tons 10,918,451 9,936,963 10,629,355 9,372,671 8,295,012 9,099.015
* Including 40,544 tons net held in the warrant yards of the AmericHn Pig
J'.ron Storage Warrant Com pan/ Ueo. 31, 1889, not under the control of makers;
59/_8~J~::isb~efmt~r{~~i~t~~erns Dec. 31, 1891; and 8:3,040 tons Dec. 31, 1892.
Tonsof2,000
P()'IJ,1!ds.
1892.
1891.
1890.
1889.
1888.
- - - - - --- - - - - - - - - - -·-So.8tatesTons.
.Alabama•.... 1,025,131
Virginia .•..•
38:l,989
836,090
Tennessee •..
173,368
W.Virginia . .
63,334
Kentucky•.•.
Georgia ..•• . .
11,144
Maryland ....
111,027
9,646
Texas ........
3,257
N. Carolina. ..
Tons.
Tons.
Tans.
8111.154
330,727
329,747
96,tl87
50,225
55,841
138,206
20,902
8,603
914,940
327,912
299,741
144,970
53,604
32,687
165,559
10,860
3,181
791,425
251,356
294,655
117,900
42,518
27,559
33,817
4,5!4
2,8~
--- ---
'.Cons.
M9,492
197,896
267,931
95,259
5fl,790
39,397
17,606
6,587
2,400
1887.
1886.
----Tons.
Tons.
292,762
175,71
250,34"'
82,811
41,907
40,947
37,427
4,383
8,640
283,859
156,250
199,166
98,618
64,844
46,490
30,502
3,250
2,200
- - - - - - -929,436
-- - 875,179
Total . ...... 2,116,986 1,914,042 1,953,469 1,566,702 1,132,858
Pennsylv'nia 4,697,062 4,426,673 4,945,169 4,181,242 8,589,186 3,684,618 3,293,289
Ohio .. ... .... 1,368,543 l,1&9,215 1,389,170 1,215,572 1,103,818 975,539 908,094
NewYork ..•
847,643 352,925
369,381 207,247 257,180 296,572 233,618
New Jersey ..
98,532 103,589
177.788 125,693 101,882 172,554 157,886
Illinois •. ...•. 1,063,384 749,506
785,239 601,085 579,307 565,453 501,795
Michlgan .•••
206,552 238,722
258,461 214,356 213,251 213,543 190,734
Wisconsin ...
195,956 220,819
246,237 158,634 116,037 133,508 1 65,933
63,862
Missouri .••••
100,550
32,736
91,783
86,190
97,320
.All others ••.
81,574
75,228
83,205
69,408
64,277
77,340
------
138,6481 "'·'"'
Grandtota.I 10,255,8,iO 9,273,45S 10,307,028 8,516,079 7,268,507 7,187,206 6,365,328
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
PETROLEUM RUNS, DELIVERIES, STOCKS AND EXPORTS SINCE
1881.
Calendar year ended December 31.
IFisc'lyearendedJune
Deliveries.
Barrels.
U. 8. E,ports.*
I Gallons.
Runs.
Banels.
I
Stooks.
Barrels.
30.
22,094,300
34,335,147
1882 ..... 31,789,195
556,239,228
21,967,636
1883 .. ... 24,385,968
35,715,565
499,786,266
24,053,902
1884 ..... 23,704,510
36,872,892
508,362,968
24,086,104
18 5 ..... 21,225,203
33,539,038
568,106,520
26,396,483
1886 ..... 26,043,645
33,367,898
574,555,480
]887 ..... 21,819,027
27,347,998
28,357,112
589,554,441
26,470,654
18 8 ..... 16,259,977
18,595,474
576,982,396
29,472,864
1889 ... .. 21,51.9,636
10,!W4,783
614,511,805
1890 ..... 29,130,751
9,295,513
30,628,738
661,845,698
28,761,073
1891 ..... 34,486,923
15,354,233
708,220,777
30,502,114
17,395,389
1892 .•••. 32,761,466
714,808,479
* lno ,udwg all mllleral oils, boLh crude aud refined, but noti including
I
residuum a11d tar.
RAILROAD CONSTRUCTION AND EARNINGS.
The building of new railroads in 1892 was discouraged by
many circumstances. The Inter-State Commerce law and the
regulations in different States by railroad commissioners had
kept the rates for transportation so low that the proportion
RETBOSPEOT.
of net earnings to gross was on many roads unsatisfactory.
Then the whole South was in a depressed condition the first
nalf of the year, on account of the low price of cotton, and
aven when cotton had advanced, the railroad situation was
not improved, as the crop was so much smaller as to greatly
reduce the tonnage. The principal railroad building was
therefore done in small pieces, the Great Northern road being
the chief of the large systems engaged in heavy construction.
The total new mileage built in 1892 is estimated at 4,100
miles against 4,500 in 1891, 5,700 in 1890, 5,700 in 1889 and
7,000 in 1888.
Railroad earnings made a good exhibit for the first half of
_892, owing mainly to the heavy freight business derived from
, he unprecedented crops of 1891. But in the latter half of the
vear, when the new crops began to move, the earnings did
-.10t show so well in comparison with the year previous, though
;his was partly due to the fact that the earnings were so heavy
in the last half of 1891. There was much complaint of the
l ow rates on competitive business, which kept the net earnings down to a small proportion of the gross receipts, and the
...:nanagers of through lines were almost unanimous in their
opinion that some method of maintaining rates must be
adopted. The Western Traffic .Association was practically
dissolved on Oct. 11 in consequence of the withdrawal of
the Chicago Burlington & Quincy Railroad from the association. For 1892 gross earnings of 174 railroads (including 4()
roads which had reported only for the eleven months to November 30), operating 132,334 miles, were $926,377,747,
against earnings of $881,467,492, on 130,502 miles in the same
per'iod of 1891.
FOREIGN COMMERCE.
The trade movement of the United States in 1892 had features of extraordinary interest. The immense crops of 1891
h·d to an export of domestic products in the first six
months of 1892 that was quite remarkable. The price
of cotton was abnormally low and wheat also declined heavily, but notwithstanding these facts the
total value of merchandise exports in that h1.lfyear amounted to $479,153,000 as against $419,384,000 in 1891.
In the last six months the situation was qmte changed.
The crop of cotton was very much below the great 9,000,000
b:.ile crop of 1891, and exports were also checked by a large
advance in price. Grain export3 were much less in consequence of better crops abroad, ind as a result of these combined circumstances the total exports of merchandise in the
six months, July to December, inclusive, amounted to only
$459,266,940, against $551,125,195 in the same six months
of 1891. On the other band imports of merchandise kept
up to abnormally high figures, and while in the first
half of the year they equaled the large imports of 1891, in
the last six months they ran much above them, and from
July 1 to December 31 imports of merchandise amounted
to $444,470.638, against $395,674,921 in 1891. Hence, summarizing the results of the calendar year, it is found that
the exports of merchandise exceeded imports by $62,221,714,
and the net exports of gold were $59,045,524, while in 1891
exports of merchandise exceeded imports by $142,188,703,
and net exports of gold were $34,116,471.
For the calendar year the movements of merchandise and
i<pecie were as follows:
We subjoin the totals for merchandise, gold and silver for
the twelve months for six years.
SILVER.
GoLD.
MEROHANDISE.
'.lwuve
Mos. liJZJ)Of'U. Cmporu.
JIJZCUIJ
of
FJzporl;a
Jl]z-
ports.
Bzcess
Im-
of
pons. Ezporta
Im- li1xce11
Bl~
of Bl~.
ports. ports.
pan,.
- - -- - ----- -I- - I- --I - - - --I
I
I
I
•
LS92. 938,420 S76,198
IS9l. t.7O,510 828,331
lS90. 8.l1',503 S:l3,398
1S~9. S27,106 710.526
l~SN. 691,761 72:i,202
I~~,-. 71~.3011 S,818
62,222
142189
34,105
f,6,580
*33,441
6,483
'76,496
7'9,086
24,063
~O.93-i
3-l,526
9,144
•
:i9,0i5 3:i,971:1
3.&,116 :l?,693
3.830 26,540
3S.929 40,691
'l3,565 :l9,880
44,88'.) *!l~.74n 27.645
17,451
44,9i0
20,230
1:l,005
10,961
21,726
18,193
'l2,<i26
19,219
l!}.iju8
1 ff.773
14,250
9.500
3,999
21.475
13,972
t0,872
" Excess of imports.
CITY B.A.NK MOVEMENTS.
There was no extraordinary interest in the New York City
bank figures this year. The Clearing House banks never
showed a deficiency in their legal reserve and the lowest point
reached was on the 15th of October, when the su!'plus above
the legal requirement was $539,050. The maximum of deposits was on the 18th of June, when the amount reached
$543,663,100, as against $455,306,300 on the 26th of December
1891, which was the highest for that year anq the highest ever
reached up to that time.
,MAXIlllUM AND filNIMUM DEPOSITS OF NEW YORK CITY BANKS.
_________ !
I
Ma.rimum.
Minimum.
1881. . .................... · 1 $352,658,800 July 23 $271,668,800 Mar. 12
1882... .. . . . . . . . . .. . . . . . . . . 322,863,200 July 29 277,930,000 Nov. 25
1883... ..... .. ....... .... .. 327,326,700 July 14 279,944,200 Mar. 31
1884. .... .......... -. . . . . . . 363,544,400 Feb. 16 280,698,100 June 21
1885............. .. . . . . . . . . 391,804,900 Aug. 22 340,816,300 Jan. 3
1886.. ...... ......... ...... 396,08 0,800 Feb. 13 345,708,500 Sept. 11
1887............. .. . . . . . . . . 392,771,200 Feb. 12 341,935,900 Sept. 24
1888... . . . . . . . .. . .. . . . . . . . . 421,884,300 Oct. 20 371,305,900 Jan. 7
1889 . .. .. ........ .. -.... ... 445,797,500 July 6 395,600,600 Dec. 14
1890 . .... . . . ·· ····--· .... .. 431,599,600 Feb. 8 376,746,500 Dec. 13
1891... ... . . . . . . . ... . . . . . . . 455,306,300 Dec. 26 3 3,491,500 June 13
1892......... . ....... . ..... 543,663,100 June 18 444,370,100 Dec. 24
l\lAXIMU:11 AND l\UNIMUl\l SURPLUS RESERVE FOR TWELVE YEARS,
--1
M_a_.t1,_._n_iu_1_n_.
__________ ___
1
1881............. .. . . . .. . . .
1882.. .. .. . . ......... .. . . ..
1883............... . .......
1884... .. . . . . . . . . .. . . . . . . . .
1885............. .. . . . . . . . .
1886................. ......
1887......... .. . . .. . . . . . . . .
1888. .. .. . . . . . . . . .. . . . . . . . .
1889. ....... . .. . . .. . . . . . . . .
1890............. .. . . . . . . . .
1891.. .... .. .... ..... ... . ..
1892..... ... .. .. .... .... ...
Minimum.
$16,728,575 May 20 df. $3,333,275 Oct.
10,895,600 April 29ldef. 3,024,950 Nov.
10,007,575 J a n. 27 def. 6,770,875 Mar.
42,297,450 Dec. 4 d ef. 6,607,125 May
24,712,650 Dec.
64,724,100 July 30
4,008,200 Dec.
36,156,425 Jan. 30
3,345,900 June
22,298,450 Jan. 29
Dec.
6,281,350
16
28,463,700 June
20,014,800 Jan. 26 def. 1,668,050 Oct.
15,031,650 Jan. 25 def. 3,306,925 Sept.
3,102,750 Oct.
24,089,775 Jan. 24
539,050 Oct.
36,020.900 Jan. 30
7
11
17
22
24
18
25
29
5
13
3
15
THE MONEY M.ARKET.
The money market during 1892 was easier upon the whole
than in any year sincJ 1888. There was never severe stringency in the market prior to December, and during most of the
time call loans ranged as low as 1@2 per cent on prime
collaterals. The extreme rate reached for call loans to stockbrokers was 40, on the 19th of December. The forced isrJue by
the Government of $47,418,52L in legal.tender notes against
its monthly purchases of silver bullion w.::.s a notahle f eature,
and as a matter of fact the actual net increase of coin and
currency in the country during the year was $16,251,029.
The following table shows the range of call loans in New
York each week and also the quotations for prime short date
commercial paper.
Weelt ending
Friday.
Call
Loans.
Prime
Paper.
ending
I Week:
Friday.
Call
Loans.
Prime
Paper.
314@41.g
4¼@514 .July 8 ......•• 112W 4
Jan. 8 .•...••• 119@ 4
3 @4lg
•• 15........ 1 •j;lJ 3
4lg@514
" 15........ 1 'l/J 3
3 ¾,'@5
" 22........ 1 @ 2
" 22.. .••••• 1 @ 212 4 @119
3½3aHlg
2
@
1
.••••.
29..
"
3½!11>.!19
21g
'@
1
29........
"
omltted.
cases
all
in
are
(000)
clphers
In the followin.it table three
3¼@4
~
@
l
.•••••
..
5
Aug.
3½3'@419
2½!
@
1
......
5..
Feb.
..----1891.-·--,-----1892.---~
3lg@4
" 12........ 1 @ 2
" 12........ 1 @ 2¼ 3¼1!4
4 @4¾,
" 19 ....•••• llg'a> 2
3¾,W412
" 19 ...••••• 1111@ 2
Excess.
Mercltan- Exoorts. Imports.
Eiports. Imjorts. E$xcess
@519
4
212
1¼@
........
26
"
@4½
4
2
119?i!
26........
"
$
dhe.
'
414W5¾,
$
Sept. 2.. . ... 2 @ 6
4. '@5
Moh. 4.. .••••. 112@ 2
23·l,S21 2O:i,915 +26,006
Jan.-Mar.. 26S,606 214.673 +:J:J,933
-119@6
5
219@
......•.
9
"
@5
4
2
w
112·
11........
''
-6,508
l~fi.56:i 2~8.731 -4O,ltl8
April-June ~ • 0,547 2 l 1,055
5 @6
" 16 .. .. ..•. 4 @ 5
4 @5
" 18........ 112@ 2
July-Sept.. 18ti,J57 ~21.676 -;Ji),5llf
218,209 l!J.1,600 +:&3,709
-1.¾@6
" 23 . . ...... /3 @ 4
4 @5
" 25........ l¼itJ 2
~, ,865
+~.742
66.836 +3ti,041
October.. .
19,123
1 O·l,877
Jlg'@5¼
" 30.. ...••• 3 @ 6
3~@4lg
'13,219 +•l4,481
91.700
"-ovember.
64,891 +'l,l.218 A.prll 1.. ...... 119W 2
110. 04
,.0,452 +17,093
87,M5
ti!J.448 +fiO,488
December.
119.936
119@5~
Oct. 7 ........ 4 @10
3½W4
·• 8 ........ 112@ 2
--:'., @6lg
" 14 .....••. 412@10
319W4
" 15........ l°lt@ 2
Total.... 938,420 816,198 +6~,2ll2
910,510 828,321 +142,189
5 @6
" 21. ....••. 4 @ 8
312@412
" 22........ llg'l/J 2
5lg1t6
" 20 .... . ••• 3 @ 7
314@412
'' 29 ..•...•. 119-w 2
Gold.
5 @5¼
8
@
5
.•.
.
....
4
Nov.
314@414
2
@
1
6........
May
9,894
Ja.u.-Mar ..
6,463
13,063
2,578
+'7,316
~6,600
5lg'@6
lL ... . .•. 4 @ 6
"
3 @1
" 13 ........ 1 @ 2
tiO,n/:16
April-June
1,572 + 6,934
28,508
n8 +:19,838
@512
;;
6
'7,180
1l)
4
..•.
..
18..
"
July•Sept..
2180 +18.281
w4
3
2O,4tll
2
@
1
9,876
.•••••
20..
"
-~.696
-:l,634
l ti 3 ,3 -16.0PS
3,118
810
4 !
October....
4~@5¼
" 25 ...•.••. 3' @ 6
3 '@ l.
" 27 ........ 1 'l/J 2
382
1,13i
-1.439
NoTeznber.
2,677
8,871
-~.489 June 3.. ...... 1 '@ 112 2¾1i>4
@6
5
6
@
4
....•..
2
Dec.
1,541 -11,303
25-i
12,844
fi,Ul9
December.
-:i.765
9 .. . . . _., 4 ·@ 512 'l 11>512
"
·• 10.. ••••• 1 1i> l¼ 2¾1»4
---- --5 '@519
" 16 ...•.••. 4 @25
' 17.. .••••• 1 @ Ilg 2¾@3¼
1'1,451 +a9,045
,.9,086
76,496
Total ...•
44,070 +311,lld
6 @7
" 23..... .•. 3 1i>40
3 '@4
" 24.. ...••• 1 @ 2
Silver.
6
" 30 . ....••• 4 ·@l0
3 11>4
July 1. ...•••• 119@ 2
,.,316
Jan.-Mar..
+4,013
3,303
:i.313
3,345
+1,968
'7,471
April-June
+2,671
4,803
4.359
2.998
+1.361
EXCH.A.NGE.
F.JREIGN
9,068
JuJy.~ept..
7',315
+3,488
t\,580
:i,148
+~.197
3,507
October....
3,231
+12
3,495
~.423
+sos
The rates for sterling exchange ruled high in New York
4,610
3,901
+1,180
November.
2,721
2,19d
+2.412
4,711)
December.
~.!;35
+2,&6
1,824
-t754 during most of the year. The tone was easy in January and
~.081
FOREIGN TRADE MOVEl!ENT OF THE UNITED STATES,
---
---
----
Total ... ,
---3:i,976
+ Excess of
exPOrts.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
21,726
+14,250
- Excess of imports,
---
27,693
18,193
+9,500
the highest asking rate for bankers' demand bills was 4 87 at
the close of the month. But from February to D '= cember, in-
6
RETROSPEOT.
The folJowing table shows the opening, highest, lowest and
elusive, there was no month except October in which the
posted rate for demand bills did not go as high as 4 89, thou£h closing prices of leading groups of stocks during the yea-r 1892.
the rate on actual business was of course lower. Tne exRANGE OF LEADrn"G STOCKS IN 1892.
• ports of mercbandisP- in tbe first six months of the year ex- - - - -- - - - --Olosnet
a
was
ceeded imports by about $48,000,000, but still there
ing .
Highest.
£owest.
- - _ _ _ _ _ _ _ ~~~ .
. export of more than 35½ millions gold, while in the last six
Linesmonths of the year the net exports of gold amounted to about l'runk
8 10114 Mar. 12 94 7 s
9212 Oct.
85
Baltimore & Ohio....
$22,000,000, a sum quite unusual for the last half of the year,
8 21612 Dec. 21 208
199 Jan.
Boston & Albany.... 200
6118 Mar. 5 5612
ship•
15
Sept.
against
5414
offering
6134
bills
Southern,___
commercial
of
Canada
amount
The small
2 24
34:\ Jan.
19
Dec.
2318
3412
--···-··-··
·
-·
··Erie
imports
heavy
contmued
the
and
produce
ments of cotron and
LakeShore ... ·--···- · 12312 120 Jan. 19 1 14012:Mar. 5 12712
of merchandise were the chief causes for the relatively high
102 Dec. 19! 117 Mar. 5 1043s
Mwhigan Central.... 106
rates of exchange. Throughe,ut the year it was tolerably eviN. Y. Cent. & Hudson 11634 10718 Sept. 15 11914 Mar. 5 10914
573sJan.
53 Nov. 9
Penns)lvania .••.. __ . *573s
2 5412
dent that the apprehension of a silver basis in the United
Road~States prevented any liberal investment of foreign money in Coal
1381s Jan. 19 16712 Fel). 29 154
Del. Lack. & Western 139
our securities, and this led to tbe drain of gold in settlement
Delaware & Hudson
8 14912 Apr. 7 13412
12312 122 7 s Jan.
.. .
Lehigh Vallt>y
6212 Feb. ll 5814
50 14Jan. 13
*503s
of our foreign baiances.
--1
RAILROAD AND MISCELLANEOUS SECURITIES.
The details of stock and bond movements in each month
of the year are given helow under the title3 of the several
months respectively. In taking a genera1 view of the Stock
Exchange situation we find ti-lat tbere was more confidence
in the values of railroad stocks and bonds in January than
at any later date. The transportation of the heavy crops of
1891 during the first half of 1892 promised a large business
and the expectation was afterward fully realized, as the
tables of railroad e::irning,; published in the CHRONICLE showed
that 190 railroads earned $448.515.806 gross in the first six
months of the year against $4 6,936,311 in the same period of
1891, an increase of $31,579.493, or 7·57 per cent. while net
earnings increa:,ed $6.607,235. or 5·3t per ct>nt. In the last
half of the y~ar e rnin~s were much less favorable and the
statement for ten month~ ending with Oc ~ober (the latest yet
rep •rted) showed that the increase in net earnings on 124
roads was only $4,335,492 over 1891. The low rate~ for freight
kept the ratio of expemes to earnin.gs at a hi~h figure, and
the net profit from operations was consequently unsatisfactory on many road~.
Tbe market wa~ greatly in.fluc>nced at times by negotiations
or agree mc,n·s of large importance affecting certain leading
companies. The Olcott plan for reorg-anizing Richmond Termin'1. 1 first buoypd up the market and then by i:s failure depressed it. Agaiu. tbe consent of Drexel, Morgan & Co. to
examine the property lifted all Richmond Terminal and kindred securitieR, only to be dropoed as quickly when that firm
declined to act furtber. The Richmond Terminal and all the
principal companies of its system went into the hands of receivers. Tbe famoµ\3 Reading lease of the Lehigh Valley and
Jersey Central railroads was announced on Feb. 11th and on
that day th e sales at the N. Y. Stock Exchange reached 1,387,467 shares. as against 1,074,000 on Dec. 15 18 · 6, which was the
highest previous record for any single day. The Jersey Central lease was broken by a decision of the Chancellor in August. On Oct. 26 was announced the consummation of the
deal between Reading parties and tbe Boston & Maine and the
N. Y. & New England railroads, and thus throughout the entire year tbe Phila. & Reading. with its remarkable combinations and vicissitudes, was a most prominent factor in directing the movements of the stock and bond markers.
The so-called indu trial stocks engrossed a larger share of
attention in the dealings than ever before. and at times furnished almost the only active business at the Exchange. The
transactions in su ch stocks as Sugar, Lead. Tobacco, Cotton
Oil, National Cordage. General Electric, Chicago Gas, Distilling & Cattlf' Feeding. &c., were of very large volume, particularly in thE> last quarter of the year. Mr. Jay Gould died
on Decemher 2, aud bis particular stocks were so fullv supported that instead of ~eclining several of them actually became firmer, and Manhattan El. and Western Union within
a short time were pw·chased heavily and scored a large
advance.
The dealings in both stocks and bonds were quite dull in
the last three months of 18g2, The Presidential election occurred on Nov. 8, Congress met on Dec. 5, the Silver Conference in Brussels be~an its session lat9 in No\"'ember. and these
important events, together with the small exp)rts of produce,
high rates of exchange, exports of gold, and less favorable
earnings on many railroad lines, al I had the effect of checking
any buoyant movement in securities.
The following table shows the volume of s:1,les at the New
York Stock Exchange for a series of years.
SALES AT THE NEW YORK STOCK EXCHANGE SINCE
l
U!81.._ . .
1882, ___ ,
1 883 . . _.,
1 884 . ... .
18 5 . ... .
1886 ·- ··
1887 . . - ..
1888 ·- ..
1889 · - ··
1890 . . _..
1891. __ ..
1892.·--·
"Railroad and
Miscel 1aneous
Stocks.
Shares.
114,511.248
116,307,271
97,0-19,909
96,154,971
92,538,9-17
100,802,050
84,914,616
65,179,106
72,014,600
71,282, 5
69,031,6 9
85,875,092
Railroad and
l\lisrellaneous
Bonds.
Government
Bonds.
18~0.
I
State
Bonds.
- - - -1 - - - - - - - - - - -
$
385,889,fi00
246,769,-110
284,768,100
499,955,200
660,659,400
587,237,500
347,127,330
345,914,057
398, 25,425
401,829,220
383,715,000
485,857,400
$
35,395,850
18,555,850
17,046,150
14,905,150
15,261,200
12,7f.13,500
7,110,400
6,573,700
3,69 , 50
2,625,500
1,460, 00
1,729,100
$
49,569,300
26,571,260
6,98G,500
2,826,900
14,678,053
20,39,1,411
15,306, 00
5,1 ,2 5
5,932,350
4,870,400
3,475,100
4,793,950
* This includes all stocks (except bank stocks) and also trust certifl. oates, &c., sold in the "unlisted" department, except petroleum certiti,
eates sold by barrels.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
11112 Jan. 19 145 Ff¥}.
New Jersey Central.. 113
2034 No\'.
N. Y. su~q. & WesL'n.
4
1012 Jan.
105s
65 Fe.b.
38 Jan. 19
Phila. & Reading ·- ·
4014
w, st'n & So w. Roads323s May 21
A.tch. Top. & San Fe.
465s Jan.
4512
Chic. Burl. & Quincy
95 Sept. 15 1105s Jan.
10912
84"' Ang.
2
755s A.pr.
Chic. Mil. & St. Paul
825s
Ollie. & Nortnwest'n . 11612 1101s Dec. 19 121 7s Mar.
Chic. R. I. & Pacific ..
94 14Jan.
7312 June 8
8914
Great N e rthern, pref. 12314 119 Jan. 22 144 Aug.
9512 Sept. 16 110 Jan.
Illi ,ois Central..··-· 10912
Missouri Pa.clfl.o. ____ _
6534 Jan.
2
53 7s Dec.
63 7 s
Pacitlc R.,actsCanadian Pa.cifi.c ....
9412 Jan.
86 Oct. 26
9212
35 Jan.
2712 Dec. 31
34
Central Pacific ···-·Northern Pacific_. __ _
15 Dec. 28
2612Jan.
2618
Preferr- rt ..•..•.•.•
721s Jan.
44 7 s Dec. 29
7218
335s Dec. 20
Southern Pac. Oomp'y
4114Jan.
3912
2
Dec.
3534
5014 Jan.
4814
Union Pacitlc · --···-·
Southern RoadsCues ipeake & Ohio . .
28 Jan.
213s Sept. 16
26 7 s
93,1Jan.
East Tenn. Va. & Ga.
33s Dec. 23
712
._
1st prf'f ~rrert.
2212 Dec. 22
50
5134 Jan.
6434 Sept. 23
Louisville & Nashv ..
8412 Jan.
8418
Norfolk&West. -pref.
3714 Sept. 29
56 Jan.
55
Rich. & W. Pt. Term.
15
614 June 27
1712 Feb.
7
Texas & Pacitlc .. . __ .
1
July
7
145s Jan.
13 s
Misrellanenu<1Amcr. Cotton Oil ... . 1 351s
47 7sAug.
3212 Jan. 19
Am. StHtar ........... .
7812 Jan. 19 1153s Aug.
85
3 126 Nov.
106 Oct.
Amer. Tobacco Co .. t106
Ch1c ·-, go Gas . ... . ...
2
7134 Jan.
993s Nov.
7134
4-11s l\Iar. 9
Distilling & Cattle F.
60
7212Dec.
Nati 11nal Corda!?e ... .
9112 Mar. 7 1421s Dec.
9~3s
National Lead Co ... .
31
305s Mar. 24
515s Dec.
North American .... .
918 Dec. 29
18 7s Jan.
1 5s
Pacific fail S ...... .
25 Dec. 16
403s Jan.
3 1s
U.S. Rubber Co ..... . §39
4834 Nov.
38!4 Nov. 18
Westc>ru Union Tel .
82 Jan. 19 1003s Aug.
835s
50 Oct. 17
Pipe Line Certificates
60
6418 Jan.
9:'il,t .fon.
SU ver B nllion C:e rti f' R
8218 A.n<?. 12
95
* Dollars por share; not per ueut.
+.1!'11'::Hi i:!i:Utl lll VlJl,.
sale in Nov.
~
2
11
1.2612
18
625s
4 3334
28 9734
1 775s
5 111 7s
7 8234
11 134
5 9912
4 5634
12
4
2
2
6
4
89
2712
16
4712
33 7s
395s
14
7
11
2
4
12
4
2212
334
25
715s
38
714
914
18 4334
25 1111s
1 12114
7 893s
13 661s
12 13814
14 46
4 101s
14 271:2
19 45
16 95 34
12 5214
1-'-
s:!::l¼
Review of the Year by Months.
JANUA.RY.-The year opened with a money market abundantly supplied with funds, and the rate for call loam in January never went above 5 per cent, soon falling off to 1@2½ per
cent, while prime commercia paper was quoted as low as 3½
@24½ per cent. The accumulation of money in the city hanks
was large and the surplus reserves above the 25 per cent requirement were ou Jan. 2 $17,232.050; on the 9th $18,961,125;
on the 16th $24,5,6,023; on the 23d $33,002,900, and on the 30th
$36,020,900, which was the highest point reached during the
year. Foreign exchange advanced pretty steadily throughout the month, and from 4 82 and 4 84¾' as the actual
rates for bankers' 60 davs and rlemand bills at first they rose
to 4 84¼ and 4 86¼ towards the close. The Bank of England
rate was 3½ and was reduced to 3 per cent on the 21st. The
exports of merchandise from the Uoited States exceeded imports by $37,418,000; the net imports of gold were $806,000;
the net exports of silver $1,236,000; Silver Bullion Certificates
ranged _as follows: Opening price, 95; highest, 95¼; lowest,
91; closmg, 91¼.
At the Stock Exchange the tone was generally strong and
confident. Railroad bonds were in good demand at rL ing
prices anrl some of the income bonds advanced materially.
The Reading incomes were favorably influenced by the declaration of 5 per cent on the firsts and 4¼ on the seconds, payable February 1 out of tbe earnings of the fiscal year ending
The Chesapeake & Ohio bonds were
November 30 1891.
firmer in .consequence of the negotiation by which the
Elizabethtown Lexington & Big Sandy road was absorbed, and
the new C. & 0. mortgage for $70,000,000 4¼ oer cent bonds was
proposed, part of it being used to retire the preferred stocks.
The Richmond Terminal oonds were vary strong pending the
maturing of the reorganization plan by the Olcott Committee.
Chicago & Erie incomes advanced on the better prospects of
the mad and the Union Pacific 6 per cent gold notes reached
99½. Stocks were generally strong in the early part of the
month on a good prospect for the future. Earnings of most
of the Western roads had been showing well for some time
and they were expected to do much better in the first
half of 1892 tlian in the corresponding period of
The market was also influenced by the move1891.
ment in special stocks. After the middle of the month
the war prospects with Chili had a deprcs::iing influence, and
when the difficulties were settled the tone again became
firmer. Foreign holders were sellers bf our stocks here,
owing to the duJl condition of trade abroad an1 the silver
question in this country. Early in the month Union Pacific,
Sr. Paul and Atchison Wf're strengthened by their good exhibit of earnings, and Richmond Terminal by the appointment of the Olcott Committee, and further by the formation
of a syndicate which subscribed $6,000,000 to take up the
Richmond & Danville :floating debt temporarily. Chicago
RETROSPEO'l'.
Gas was very active on prospects of taking over the Eco- ports over exports; net gold exports of $2,626,000; net silvei-nomic, the oppositon company. New York & New England export:1 of $2,166,000. The ran~e of Silver Certificates was:
became strong and active on Mr. Charles Parsons going into Opemng, 90¾; highest, 91¾; lowest, 85¼; closing, 86¾.
the company. Northnn Pacific was one of the weake!'it
Stocks and bonds had some speculatfre activity in the
stocks, the coal stocks were very strong on good buying, and early part of the month, but afterward became dull. The
Denver & Rio Grande preferred rose sharply on its improved Richmond Terminal bonds were active on the strength of
prospects and a boom at Creede, the new mining town.
the Olcott plan, which was made public in detail on the
Among the event~ of January not mentioned above the 16th, but neither the stock nor bonds reached as high prices
American District Telegraph increased its stock to $4,000,000 as in February, and were considerably lower at the close
and absorbed the Mutual District Telegraph; Lehigh Valley of March. Stocks were very active in specialtifs early
sold $7,000,000 of its N. J. Terminal RR. bonds; the Olcott in the month, with many rumors of consolidations or new
Committee was formed for the re-organization of Richmond deal~, and Lake Shore advanced to 140½, Delawara &
Terminal; the American Sugar Co. decided to increase its Hudson to 145¾, New England (undn the report that Dr.
stock $25,000,000 ; the Ches. & Ohio plan was issued, as men- Seward Webb would become President) to 59; Erie was actioned above; a syndicg,te took $5,000,000 of Baltimore & tive and sold up to 33½; Tenn. Coal higher on the De BardeJeOhio new stock ; the Oregon Pacific Railroad was sold to hen consolidation, and Buff. Rochester & Pittsburg active up to
a committee of bondholders; Philadelphia & Reading ac- 411/a. American Sugar was very active and strong, touching
q_uired control of the Poughkeepsie Bridge.
101 ¾ on the reported absorption of the Philadelphia rival comFEBRUARY.-The money market was very easy during Feb- panies. Towards the end there was a decided reacticn, and
ruary, although the surplus reserve of the banks decreased stocks were considerably lower than their highest pricf's
some~hat. Forei~n exchange was etrong and a moderate ex- reached-R~ading 56, New England 45½, Richmond Terminal
port of gold took place. At the Stock Exchange all other 10¾, Lake Shore 132½, Delaware & Hudson 139¾,
<'Vents were overshadowed by the great Phila. & RPadinis
Among the controllmg events of the month were the rum.on
combination, through a lease of the Jersey Central and Lehigh of large combinations; the moderate gold exports; the declaValley roads, which was announced on the 11th, and led to ration of the Chicago Council thatthecharter of the Economic
extraordinary activity in the securitities of the companies Gas Co. was forfeited; a plan of reorganization by the bondaffected. The rates for call money rang:ed from 1 to 2½ per holders of N. Y. & Nortrem; the hearing at Harrisburg
cent, with an average scarcelyexceeding2 per cent, and prime March 3 on the Reading leases; the Bell Telephone voted
commercial paper was quoted at 3½ to 4½ per cPnt. The $2,500,000 new stock; the Central Railroad of Georgia went
surplus reserve of the dry banks on the 6th was $33,441,425; into receiver's bands (Gen. E. P. Alexander); Chicago Gas
on the 13th $33,653,825; on the 20th $30,857,550, and on the offered its stockholders $4,000,000 of Ind. Natural Gas & Oil
27th $26,969,700. Foreign exchange was generally strong, but Co.'s bonds at 90 with a bonus of stock; the N. Y. & New
became a trifle ea!'ier towards the close, the actual rates for England meeting voted the new 5 per cent consol. mortgage;
bankers' sterling bills being4 84¾(ii)4 85 for long and 4 86¾r,~ Ontario & Western proposed a new $20,000,000 mort~age at 4
4 87 for demand in the early part, rising to 4 86 and 4 88¾, per cent, part to retire old 6s; the bill to legalize the Reading
and closing a trifle easier for long bills at 4 85¾, The sales deal passed the New Jersey Legislature, but was afterward
of securities for foreign account had some influence on the vetoed by Gov. Abbett ; the Tenn. Coal & Iron consolidation
ratPs of exchange. The exports of merchandise from the with the De Bardeleben Co. was effected; Del. & Hurfson
United States in February exceeded the imports by $21,254,000; made a mortgage of $2,000,000 on the Adirondack Railroad:
the net export of gold was $3,680,000; the net export c,f silver the famous Olcott plan for reorganization of Richmond
was $1,222,000; the range of Silver Certificates in New York Terminal was iesued on the 16th; the American Sugar Co.
was: Opening, 91%; highest, 91¾; lowest, 89½; closing, 90%, applied to have $25,000,000 new stock traded in among tbo
Securities at the Stock Board fluctuated materially. The unlisted ; the Free:Coinage Bill failed to pass the House on
Atchison income bonds began to decline, reaching 58¾, while the 24th ; American Sugar was reported to have absorbed the
Richmond Terminal bonds advanced sharply under the Olcott refineries of Knight &HarrisonandSpreckels inPhiladelphia;
plan of reorganization until the 6s touched 100 and the 5s Atchison conveyed i•s te1minal property in Chicago; the
72¾, The Mo. Kansas & Texas and the International & Great Chic. St. Paul & Kansas City Railroad leased its property to
Northern bonds were strong on the Gould settlement. The the Chic. & Great W e!,tern with a financial plan for new
Phila. & Reading pref. incomes boomed on the great coal capital; the Standard Oil Trust dissolved and the different
combination, the three issues respectively selling at 79, 72 and companies in several States increased their capital.
67. Stocks opPned the month with a tendencv towards weakAPRIL.-The month of April was not marked by any exness under realizing sales. Distill. & Cattle Feeding declined traordinary events in financial affairs, and in the latter part
quite sharply to 45½ ; Edison General Electric was strong on of the month gold exports were again resumed on a considerthe proposed consolidation, and the anthracite coalers were able scale, the amount leaving New York in the week ending
rbing, in an~icipation of the great deal which was announced I April 30 being over $4,500,000. Money remained very easy,
in the morning papers on Thursday the 11th. This led to the range on call being 1½rg,2 per cent and on pnme commerimmense activity on that day, when tlie total sales reported cial paper 3½@4½ per cent. The surplus reserve of the city
at the New York Stock Exchange amounted to 1,387,467 banks was $18,017,950 on the 2d, $15,839,200 on the 9th. $15,shareR of stock, against 1,074,000 in the small panic of Dec. 788,500 on the 16th, $19,532,975 on the 23d and $20,036,300 on
15 1886, which was the largest previous record. Reading the 30th. Foreign exchange was general1y dull but strong for
stock sold up to 65 on the 11th, from 40¾ early in the month, sterling bills, and gold began to go out r,uite freely in tho
and sold back again to 57¼, The other coal road stocks were latter part. Bankers' rates on actual business were 4 86¼~½
strong. N. Y. & New England also advanced to 56½, from for 60 day bills, 4 87½@¾ for demandand4 87¾@8 for cables
46½ as the lowPst of the month. There was a reaction after , in the early part of tbemonth, and rose about½ point, closmg
the great coal deal and stocks became dull. Richmond Termi : at4 87@7½,488 ~ 8¼( and-188¾0: 8½ respectivelv. The Bank
nal stock reached 17½ under the influence of the Olcott plan ; ' of England rate was reduced from 3 per cent to 2½ on the
Balt. & Ohio stock was listed at the N. Y. Stock Exchange. 7th and again reduced to 2 per cent on the 28th. Imports of
Among the principal events of the month may be men- merchandise exceeded exports in value by $386,000 ; net extioned the agreement dated Feb. 9 for the consolidation of the ports of gold were $7,035,000 ; net exports of silver $990,000.
Edison GPneral Electric and Thomson-Houston companies; the Silver Certificates at the New York Stock Exchange ranged as
Ches. & Ohio acquired the Elizab. Lexiog. & Big Sandy Rail- follows: Opening, 87%; highest, 88; loweRt, 8G,¾; closing, 87.
road; the Philadelphia & Reading combination announced I The transactions in stocks and bonds were not particularly
on the 11th includPd a lease for 999 years of the Lehigh active, and much of the business was done in specialties.
Valley road to the Philadelphia & Reading and a lease of the Among bonds, the Richmond Terminals were weaker as the
Central Railroad of New Jersey to the Po!'t Reading Com- Olcott plan hung fire; Atchison incomes sold down on the
pany, guaranteed by the P. & R. The Terminal Railroad As- prospect of the forthcoming plan for the issue of a second
sociation of St. Louis sold $7,000,000 4½ per cent bonds: the mortgage, and Readint?; pref. incomes fluctuated with the
Chicago Junction Railways & Union Stock Yards Co. called a varymg phases of Reading affairs, including the Governor's
mef'ting of stockholders March 1 ~o appr<?ve th~ contra~t veto in New Jersey of the bill to legalize the Reading leases.
with Armour and others; tbe :Mobile & Ohio elect10n was m The new Chesapeake & Ohio 4½ per cents came on the list
litigation; the Olcott Committee's plan for the reorganization selling at 82@82½, Railroad and miscellaneous stocks were
of Richmond Terminal was unofficially outlined, providin~ dull at the beginning of the month, with New York & New
for new issues amounting to some $500,000,000; the Ches. & England down to 41½, soon afterward falling to 36¾; AtchiObio Railroad stockholders voted the new issue of $70,000,001J son, 35½, and Reading also lower at 54½, Delaware & Hud4½ per cent general mortgage bonds and an increase in the son soon became active and ran up to 141:.1½ on reports of con~tock; the Chicago Gas syndicate obtained control of the trol by New York Central parties, which subsequently proved
Economic Gas Co.; the International & Great Northern set- ' to be only a representation of that interest in the board.
tlement was effected and its stock held by M. K. & T. trans- Reading advanced to 62.% and all the coal stocks became
ferred to Jay Gould; the New York & New England called strong later in the month, in spite of the New Jersey veto,
a meeting March 8 to authorize the new blanket mortgage, but afterward fell off on the reduction of coal freights by the
not exceeding $80,000,000.
Pennsylvania Railroad. Atchison was wPak at 34 on London
MARCH.-)foney continued very easy thh month and the selling, and Union Pacific declined to 42¾ after the success
quotations on call were 1½ to 2 per cent, and for prime paper of the Gould ticket by aid of the London proxies.
4@5 per cent. The city banks' surplus reserve ran as follows:
Among the leading events of the month was the decision in
On the 6th, $21,292,225; on the 12th, $16,196,450; on the 19th. Georgia a~ainst the Richmond Terminal's voting on its Cen$16,199. 700; on the 26th, $18,007,425. Foreign exchange was tral Georgia stock; the New York & New H!l.ven determined
generally dull, but became stronger towards the close, when to lease the N~wYork Providence & Bostonro~d; in the Ohio
bankers 60 days sterling was sold at 4 86¼ and demand at ' & Miss. elections case the B. & 0. party, votmg th~ Brown4 88¾, with cables at 4 88½, The Bank of Engla_n~ rate re- 1 Shipley proxies, was upheld; the Pour,hkeeps1e_Bri~ge and
mained throughout at 8 per cent. The trade stat1St1cs of the I Central New Eng-land & Western plan of reorgamzat1on was
country sbowed an e:tcess of 4,780,000 in merobandise im• published; the Long Island RR. issued $2, 750t000 bonds to
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Federal Reserve Bank of St. Louis
RETROSPEOT.
pay for the Metropolitan Ferry Co. and real estat.e ; several
N. Y. street railroads were absorbed and brought under one
control by the Philadelphia syndicate, with John D. Crimmins as President; Gov. Abbett of New Jersey vetoed the bill
to legalize t he Readin.~ leases; an abstract of the new Ches.
& Obi/) $70,000,000 4½ per cent mortgage was published in
the CHRONICLE; the Baltimore & Ohio RR. resumed the payment of dividends on its common stock by declaring J ¼ per
cent for the quarter ending Dec. 31. 1891; thA General Electric bill was passed in the New York Legislature; the N. Y.
Ontario & Western RK's general mortgage for $20,000,000
was authorized; the Chicago & Alton proposed to issue 82,500,000 new stock at 114 to retire honds maturing Jan. 11898;
the lease of the Chic. St. Paul & Kansas City RR. to the Chic.
Great Western was ratified; Mr. John Good disagreed with
the managers of the National Cordage Company; at the Union
Pacific election the Gould party was successful by the help of
the English proxies; the dividend on New York & New
England pref. was passed.
MAY.-During May the gold exports were moderate; money
remained very easy; there were very heavy floods in the
West and South; Stock Exchange business was largely in specialties, and the plans of Rbhmond Terminal and Atchison
were the leading events of the month. Call money ruled at
1@2 p. c. and prime commercial paper at 8@4 p. c. Tbe city
banks' surplus reserve fell off sharply in the first week, but
ran up heavily towards the end. On the 7th it was $14,808,500;
on the 14th 815,772,125; on the 21st $19,555,975, and on the
28th $24,612,825. Foreign excbange ruled easier until the last
week of the month, when rates became about½ cent higher
at 4 86¾@4 87 for bankers' 60 days sterling, 4 88:~4 88¼ for
demand and 4 88¾@½ for cables. About 2½ millions of gola
were exportE>d from New York the first week, but afterwards
the exports fell off. The Bank of England rate remained at 2
per cent. The U. S. commerce statistics showed an excess of
merchandise exports over imports amountmg to $1,064,000;
net exports of gold were $3,~68,000; net exports of silver,
$397,000. Silver Bullion Certificates in New York opened at
Si½, sold as high as 88½, as low as 87% and closed at 87_¾.
Railroad bonds showed some activity on a general demiind
and ~pecial bonds were also active for particular rec.sons-the
Atchison incomes, ow-i ng to the plan for converting them into
second mortgage bonds, and Richmond Terminals, from the
failure of tbe Olcott plan, and afterwards the consent of
Drexel, Morgan & Co. to examine the property with a view
to reorganization, The stock market was influenced to some
extent by the events above mentioned as affecting bonds.
American 3ugar declined on the Government suit to nullify
the Philadelphia consolidation on the ground of monopoly.
Reading was strongly held and Buffalo Rochester&Pittsburg
advanced on the traffic contract made with Readiug and
New York Central. Delaware & Hudson fell off when the
reports of Vanderbilt control were sifted down to the election of only three directors in that interest. Northern Pacific
preferred was weak on bear attacks and the dividend was
passed. The W estern floods were very serious after the middle
of the month, and then the Richmond Terminal Olcott plan
was declared non-effective through failure of tbe underlying
bondholders to come into it, but afterward the consent of
Drexel, Morgan & Co. to investigate the company's affairs
with a view to r eorganization braced up its securitifs and
helped the whole m arket. Readin.~ securities were stronger
towards the close on higher prices for coal and good earnings
of the company. The clearing of stocks sold at the New
York Stock Exchange was begun with four leading stocks on
May 17, and was thereafter successfully continued with the
addition of one prominent stock after another to the clearing
list.
Among the events of more or less prominence this month
was the declaration' of a dividend of 3 per cent on American
Cotton Oil pref.; the Government brought suit to annul the
purchase of Philadelphia refineries by the American Sugar
Co. on the ground of monopoly; the General Electric Co.
filed its certificate at Albany making the authorized stock
$50,000,000 ; in Alabama the Chancellor decided the Mobile &
Ohio election case in favor of the Mackey party, who held a
majoritv of the stock; the Rio Grande Western stock was
increased by $2,500,000 issued at 40; it was voted to increase
the Cin. Hamilton & Dayton stock by 4,000,000 and issue
$8,000.000 of 5 per cent general mortgage bonds; the HnringHall-1\fan'in Safe Co. offered its preferred ~tock of $1,800,000
and $500,000 of its $1,500,000 common stock ; the American
Rapid TPlegraph plan of reorganization was issued; the Norfolk & Western Railroad determined to increase the preferred
stock by $10,000,000, raising the whole amount to $50,000,000;
the .Atchison plan w as issued for a. second mortgage of
$100,000,000 4 per cents, to take up the income bonds and to
use for other purposes ; Messrs. Drexel, Morgan & Co. con•
sented to examine the Richmond Terminal property with a
view to reorganization.
JUNE.-Gold exports in June we:re very large; money was
extremely easy; receivers were appointed for the Richmond
& Danville and the Richmond Terminal companies. Call
loans ruled at 1@2 per cent, with 1¾ as the avera~e rate on
good collaterals, while prime paper sold at 2¾@4 per cent.
The city banks showed surplus reserve as fo1lows : On the
4th, $23,679,750; on the 11th, $23.545,850; on the 18th, 22,783,825, and on the 25th, $19,872,050. Foreign exchange was
very firm and gold exports were heavy. Actual rates for
bankers' sterling were 4 87¾@4 87¾ for 60 d~y bills, 4 88¾'
®4 S8½ for demand and 4. 88¾(@4 8~¼ fot oablea,
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Federal Reserve Bank of St. Louis
The Bank of England rate remained at 9 per cent.
The United States trade returns showed imports of merchandise $7,061,000 above the exports; net exports of gold
were $16,637,000 and net exports of silver $1,264,000. Silver
Bullion Certificates in New York opened at 88¾, sold as high
as 91 and as low as 87½ and closed at 88¼,
The market for stocks and bonds was rather indifferent.
The Atchison incomes recovered partly from their depression
as the second mortgage plan became better known. The
Richmond 'terminal securities became weak on the appointment of receivers, and as Messrs. Drexel, Morgan & Co. also
declined to undertake the reorganization ; the stock touched
614', the 5s 41¾ and the 6s 75, these prices for the 5s and for
the stoclr being the lowest of the year, while the 6s sold at
71½ in December. Burlington & Quincy fluctuated sharply
on speculative manipulation and St. Paul was strong. New
England went up to 40¼, as a proposition was made to put the
stock in a voting trust for five years. but the Housatonic Toad
was acquired by Messrs. Morgan and Rockefeller in the New
York New Haven & Hartford interest, and New England declined to 34 as the lowest of the month. The Duluth South
Shore & Atlantic stocks became active, presumably on purchases by Canadian Pacific parties.
Among the principal occurrences of this month touching
financial and railroad interests, the Attorney-General of New
Jersey began •a suit to annul the Jersey Central lease; the
lliinois Central Railroad agreed to purchase the Louisville
New Orleans & Texas road; the Ohio & Mississippi quo war1·anto case was decided in favor of the B. &O. party, voting
the Brown-Shipley proxies ; a bill was filed by stockholders
against the Lehigh Valley ]ease to Reading ; a decree was
made for the sale of the San Antonio & Aransas Pass road in
November, but afterwards annulled and receivers were discharged; the Wheeling & Lake Erie determined to is5ue a
consolidated mortgage for $8,000,000; the Trenton Potteries
Company was incorporated in New Jersey with a capital of
$8,000,000, the U. S. Cutlery Company with $1,000,000 and the
W all Paper Company with $14,u00,000 capital; the Richmond
& Danville Railroad went into the hands of receivers; the
Housatonic road was acquired by Messrs. Morgan and Rockefeller in the N. Y. & New-Haven interest; a decree of sale
of the South Carolina road on November 17 was made; the
Tenn. Coal & Iron and the De Bardeleben consolidation was
completed; the Valley Railroad (Ohio), controlled by B. & 0.,
defaulted on the 15th ; the General Electric stock was
listed; the Northern Pacific arranged for a monthly steamship service from Tacoma to Japan and China; Mr. W.
G. Oakman was appointed receiver for Richmond Terminal;
the St. Louis & San Francisco suit of Kimball and others,
first preferred stockholders, was settled by the .Atchison
company; the East Tenn. Va. & Georgia road went to· receivers; Charles Parsons was elected president of the N. Y. &
New England road; the Poughkeepsie Bridge mortgage was
foreclosed June 30; Drexel, Morgan & Co. declined to undertake the reorganizations of Richmond Terminal.
JuLY.-ln this month the exports of gold were considerable;
the Free-Coinage Bill was passed by the Senate but was afterward defeated in the House; labor riots took place at the
Carnegie works near Pittsburg and in the Creur d'Alene mining districts. Money was very easy on call, ruling at 1@2 per
cent after the first week, when an exceptionalrate of 4 per cent
was made; prime paper sold between 3 and 5 per cent. The
surplus reserve of the city banks was $18,086,600 on July 2,
$1~,577,025 on the 9th, $20,207,150 on the 16th, $23,063,800 on
the 23d and $24,231,275 on the 80th. Foreign exchange was
firm at the be~inning and then became a fraction easier.
Sterling bills after the m;ddle of the month ruled at 4 87@¾
for60days, 4 88@8¾fordemandand 488¾®½ for cables, and
these rates were¾~½ lower than at the opening. The Bank
of England rate remained at 2 per cent. The U. S. trade statistics showed an excess of merchandise imports over exports
of $13,134,000; net gold exports of $10,240,000; net silver exports of $596,000. Silver Bullion Certificates opened at 87½,
(which was the highest of the month). sold down to 86 and
closed at that price.
Securities were depressed early in July. Messrs. Drexel,
Morgan & Co. bad declined to undertake the reorganization
of Richmond Terminal, and default was made July 1 on the
Richmond & Danville 6s and on Memphis & Charleston and
other bonds of the Terminal system: the Free- Coinage Bill
passed the Senate on July 1 and the Government crop reports
on the 10th were not encouraging. Afterwards there was a
better feeling and talk of new plans for Richmond Terminal,
the coal situation was strong by reason of an advance in
prices, and after the middle of the month there was more con,eeling and the market became stronp;er. The Northern
Pacific made arrangements to have its floating debt carried
for another year and the Louisville & Nashville dividend was
announced as 2 per cent cash, while those railroads profiting by
Kansas business were helped by the wheat crop in that State,
which was admitted to be very large. In Congress free coinage was practically defeated in the House, and the Antioption Bill, w bich had depressed both grain and cotton business at the Exchanges, was regarded as killed for this ses
sion, since the adjournment was so near at hand. These influences had a healthy effect on stocks and ·bonds and led to a
i fltronger and more active movement late in the month, in
which the industrial stocks-Sugar, Lead, Cotton Oil and
others-were quite prominent.
were the default on RichI Among the events of importanceJuly
l: the passage of tha
mond & Danville and other.bonds
RETBOSPB01
Free-Coinage Bill in the Senate on the 1st; the Carnegie Mill
riots at Homestead, near Pittsburg, and the fight with Pinkerton's men; the declaration that the Atchison second mortgage
plan was effective; the appointment- of a receiver for the
Florida Construction Co.; the offering of $2,400,000 new
stock by the Louisville New Albany &Chic. RR.; theappointment of a receiver for the Memphis & Charleston Railroad,
also for the New England Terminal Co.; thP. extension of the
St. Louis & Iron Mountain first mortgage bonds at 5 per cent;
the Western Traffic Association adjournment, owing to demand of C. B. & Q. for a change of rules; the defeat of free
coinage in the House; the appointment of H. M. Comer as
permanent receiver of Central Georgia; the announcement
that the Northern Pacific floating debt had been extended for
a year; appointment of receivers for the Jacksonville Tampa
& Key ·West road, and also for the Macon & Northern; the
organization of the Hecker-Jones-Jewell Milling Company in
New York with a capital of $3,000,000 8 per cent preferred
stock, $2,000,000 common stock and $2,500,C0O 6 per cent
bonds.
AUGUST.-Money was easy during this month; exports of
gold continued; the industrial stocks were active; two import.ant decisions were given in railroad cases, that of Judge
McCormick in Texas against the unreasonable reduction of
rates by State Commissioners, and that of Chancellor McGill
of New Jersey annulling the Jersey Central lease to Reading;
money on call ruled at 1@2½ per cent till just near the close,
when rates rose to 3½ per cent, and the next day (September
1) to 6 per cent; prime commercial paper sold at 3½@ 4 per
cent early in the month and toward the close at 4@6½ per
cent ; the surplus reserve of the city banks was $18,798,426 on
the 6th, $16,774,450 on the 13th, $12,378,875 on the 20th and
$9,887,875 on the 27th.
Foreign exchange was firm in the early part of the month
but easier towards the close, with the offering of some bills
against future shipments of grain and cotton; but the bills
against actual shipments were not large. The rates for sterling bills ranged from 4 87, 4 88 and 4 88¼ in the early part to
4 86¼@½, 4 87½@¾ and 4 87¼@8 respectively for 60-day
bills, demand and. cables toward the close. The Bank of England
rate remained at 2 per cent throughout. The U. S. trade statistics showed an excess of imports over exports amounting to
$12,357,000; net exports of gold of $5,717,000; net exports of
silver of $1,702,000. The price of Silver Bullion Certiticates
opened at 85½, which was the highest in the month, went as
low as 82¼ and closed at 83¼.
At the Stock Exchange there was some activity in Southern
States bonds, mainly in the low-priced issues. The Richmond
Terminal bonds did not decline much lower on the default in
payment of the interest ·o n the 6s due August 1. Louisville
St. Louis & Texas 6s were active, selling up to par on reports
of an alliance with Louisville & Nashville. The General
Electric 5s sold. freely up to 105½, and the Southwestern railroad bonds were stronger on the Texas railroad decisions. In
the stock market the industrials were leaders in activity and
strength. Western Union went above par on the prospect of
a stock dividend; The Chicago & Northwestern report was
good, and this helped the Omaha stocks on reports of a possible consolidation. Minneapolis & St. Louis stocks rose on the
better earnings and hopes of a termination of the receivership.
New York & New England declined to 80½ before the buving
for control by Reading parties pushed it upward, and Colorado Coal & Iron touched 31 ½ on reports that the consohdation might fail and then soon jumped upward to 39¼. The
Gould Southwestern stocks advanced on the strength of the
Texas railroad decision, but Reading did not fall off greatly
on the Chancellor's decision in New Jersey annulling the
lease of the Central road.
·
Among the principal events of August may be mentioned
the default on the Richmond Terminal 5s on the 1st; the
Houston East & West Texas Railroad was for.eclosed Aug. 2;
the stockholders' suit against the Lehigh Valley lease was decided in Pennsylvania in favor of the validity of the lease;
the Illinois Central proposed to issue $6,000,000 new stock at
par to stockholders of September 20, raising the capital to
$50,000,000; the Atchison settled the suit of Kimball and
others, first preferred stockholders of the St. Louis & San
Francisco; the strike of the railroad switchmen in Buffalo began and militia were seat there; the miners' outbreak in
Tennessee occurred; the Colorado Coal & Iron Company's
agreement for consolidation with the Colorado Fuel Co. was
settled; the New England Terminal property on Long Island
Sound was purchased by parties in the N. Y. New Haven &
Hartford interest; Chancellor McGill in New Jersey rendered
his decision against the validity of the Jersey Central lease to
Port Reading; Judge McCormick of the U. S. Court in Texas
decided against the power of the State Railroad Commissioners
to tix rates below a reasonable limit.
SEPTEMBER:-This month opened with the serious alarm
about cholera in the port of New York, and this kept up more
or less and affected business throughout; money on call advanced to 6 per cent ; gold still went out in moderate amounts
till about the •middle of the month; money on call rose
to 6 per cent early in the month, owing to continued
gold exports, the increased demand for money, lower
prices of stocks, etc., but it soon fell off to 5 per cent as
a. maximum; then to 4, an<t rose again to 6 towards the
close ; prime commercial paper was quoted at 4½ to 6 per
cent. The surplus reserve of the city banks was $7,630,500 on
the 3d, $4,781,975 on the 10th, $4,879,575 on the 17th and
$5,051,075 on the 24th.
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Federal Reserve Bank of St. Louis
0
Foreign exchange was strong in the early part, but became
much easier as the month advanced and sterling bills closed
fully 1½ points 1ower. At first, rates on actual business were
4 86¼ @7 for bankers' 60 days sterling, 4 88@8¼ for demand
and 4 88½@¾ for cables, and at the close the rates were
respeotively4 85¼@½, 4 86½@¼and 486¾@7. The Bank of
England rate remained at 2 per cent. The United States
trade statistics showed an excess of $10,043,000 in imports of
merchandise over exports; net t:told exports of $2,323,000;
net silver exports of $1,190,000. The price of Silver Ballion
Certificates in New York was: Opening 83, highest 84, lowest
83 and closing 83,%.
The movement in securities was checked considerably by
the apprehension about cholera here and in Europe. The
lower classes of bonds of Texas railroads were favorably influenced by the decision of Judge McCormick. Atchison bonds
were steady with the practical completion of the 2d mort. plan
and the expected payment of the first coupon Oct. 1. Northern Pacific consol. 5s were depressed at one time to 71. Southern State bonds were active late in the month and there was a
sharp demand for the Atchison railroad issues at quickly advancing prices. Stocks were depressed from the start by the
alarm about cholera. The industrial stocks weakened, but
New England was exceptionally strong, probably on the buying by the Phila. & Reading parties. The St. Paul resumed dividends on the common stock by declaring 2 per cent. The
bears were active in using the cholera excitement to depress
the market throughout the first half of the month. Northern
Pacific pref. became weak on inside selling and declined to
47½. Reading in a single week jumped up some 6 points to
68¼ on the 23q, probably from inside purchases made in anticipation of the Boston & Maine combination. Chicago Gas
was depressed to 77½ on rumors from Chicago that a receiver
would be appointed, but immediately afterward large buying
commenced and the stock closed at 80½,
The cholera alarm in New York and the bad reports from
Hamburg were the most potent influences of the month in
the markets. The apprehension here reached its climax
about the 15th with the arrival of the Bohemia from Hamburg reporting only 11 deaths on board against 22 and 32 on
the worst of the pest ships that had arrived earlier. After
this date the "cholera scare," so-called, soon lost its hoJd on
the public mind and on the markets. The Central Railroad
of New Jersey, pursuant to the Chancellor's decision, was
turned over by the lessee to its own managers ; new railroad
rates were made in Texas, but the cotton crop was so short as
to reduce the freights very materially; the Grand Rapids &;,
Indiana Railroad (belonging to the Pennsylvania system)
defaulted on its 5 percent general mortgage bonds; the Louisville St. Louis & Texas Railroad announced the proposed issue
of a $5,000,000 consolidated mortgage ; the Charleston Cin. &
Chic. amended plan of reorganization was issued; the Evansville & Terre Haute declared a 5 per cent cash dividend, and
it was voted to double the stock by issuing $3,000,000 new
stock (as reported at the time for distribution to stockholders,
though this was afterwards stopped); the Housatonic was to
be leased to the New York New Haven & Hartford; the
Tennessee Coal & Iron proposed to absorb the Aldrich properties and issue $3,000,000 new stock ; the Western Union Telegraph directors voted to issue about $13,800,000 new stock, raising the capital to $100,000,000; the Norfolk& West. completed
its Ohio extension on the 22d ; the Hollins syndicate took up
the Central Georgia loan of about $3,700,000 from Speyer & Co.
OcTOBER.-In this month occurred the Columbian celebrations in New York and Chicago and the keeping of holidays
on the 12th and 21st. Money on call ruled much higher and
the rates on stock collaterals were 4@ 10 per cent in the first ·
half and afterward 4~7 and 8 per cent ; prime commercial
paper sold at 4½ ~o 6½ per cent. The surplus reserve of the
city banks was '4,392,400 on the 1st, $1,lJ36,575 on the 8th,
$589,050 on the 15th, $2,882,425 on the 22d and $8,893,675 on
the 29th. Foreign exchange ruled decidedly lower this
month, on a better supply of commercial bills. The actual
rates for bankers' 60-davs sterling bills were 4 85½@¾ early
in the month and 4 82¼<m4 83 towards the close, when demand bills were 4 85¼@4 86 a.ndcables 4 86¼@½, The Bank
of England rate had been at 2 per cent since the 28th of April,
but on October 20th it was advanced to 3 per cent. The
United States trade figures showed an excess of $8,742,000 in
the exports of merchandise over imports ; net imports of
$2,634,000 gold; net exports of $12,000 silver. Silver Bullion
Certificates in New York opened at 83,%, sold"as high as 87¼
and as low as 83¼, and closed at 85¼.
Southern States bonds were quite active still for the lowpriced issues at higher figures, apparently on the hope that
some recognition of the old dishonored bonds might be
obtained from the incoming legislatures. There was no
feature of general interest in the railroad bond market, and
the principal business was done in particular issues, which
were made active at one time and another by special causes
bearing upon them. In the stock market a large proportion
of the transactions was in the industrial stocks. and in New
England, Reading, Western Vnion and Northern Pacific pref.
The General Electric was strong on the decision of the U. S.
Circuit Court of Appeals in New York affirming the incandescent lamp decision in its favor. Chicago Gas was advanced
very sharply from the low price to· which it had been depressed, and the buying was on reports of increased dividends
and better prospects. The Distilling & Cattle Feeding also
became one of the most active specialties, on the talk of large ·
prospects for earnings after absorbing a number of outside
io
RETROSPEOT.
distilleries. New England remained one of the mysteries of the
DECEMBER.-ln this month the gold exports attracted
market as to its alliance with Reading until the announcement much attention, being accentuated by the failure of the Monewas made that parties interested in Philadelphia & Reading tary Conference at Brussels to arrive at any conclusion on the
had purchased a large interest in Boston & Maine stock ana a silver question. Money on call rose to 25 per cent per annum
controlling interest in New York & New England. The in the week ending with the 17th, and on Monday the 19th
Northern Pacific annual report was issued for the year ending exceptional loans were made as high as 40 per cent, but rates
June 80, but the preferred stock was often weak and touched afterward relaxed and late in the month few loans were made
49% as the lowest yrice.
above 6 per cent. Prime commercial paper was quoted at
Amo11g the leading events of the month, the Speyer loan to 5@7 per cent and towards the close at 6 per cent. The surCentral Georgia was taken over by the Hollins syndicate; the plus re~erve of the city banks stood at $6,498,750 on December
Columbus & Hocking Valley Railroad suit, involving over 3d, $5,509,800 on the 10th, $5,445,225 on the 17th, $6,176,575on
$8,000,000, was decided in favor of Judge Burke and against the 24th and $6,839,550 on the 31st. Foreign exchange ruled
the plaintiff Belden; the John Good Cordage & Mfg. Co. was very high in consequence of the small amount of commercial
incorporated in New Jersey with $7,000,000 capital; at the bills making against cotton shipments, coupled with the•
Richmond Terminal meeting Ge0. F. Stone, Wm. E. Strong usual demand for remittances on the approach of the new
and J.C. Maben were appointed a committee on reorganiza- year, but when money became very tight some sterhng
tion ; the Terre Haute & Peoria road was leased to the Terre loan bills were offered by bankers, easing the market.
Haute & Indianapolis (Penna. system); the Toledo & Ohio There was but little foreign demand for our securities,
Central bought the Toledo Columbus & Cinn.; the Columbus and as a consequence gold shipments from New York in Decelebration occurred in New York on the 12th and the Man- cember amounted to about $11,000,000 and might have been
hattan El. roads carried that day 1,075,537 paEsengers against larger except for tight money. Rates on actual business at the
867,000 in one day of the Centennial celebration in 1889 ; the close were 4 85½@l ¾ for bankers 60 days sterling, 4 87½@¾
American Type Founders Company was organized with for demand and 4 87¾@4 88 for cables. The Bank of England
capital of $9,000,000; Illinois Central voted $5,000,000 new rate remained at 3 per cent. The foreign trade statistics for the
stock; the Western Traffic Association, after the withdrawal whole country will not be issued for several weeks yet and the
of the C. B. & Q., was virtually dissolved and adjourned gold exports at New York are given above from the Custom
October 11 sine die; the Colorado Coal & Iron consolldation House figures at that port only. Silver Bullion Certificates
with Colorado Fuel was voted; the increase of $3,000,000, opened at 85¾ , sold at 86% and 82¾, and closed at 88½.
doubling the stock of the Evansville & Terre Haute Railroad,
The Stock Exchange markets received without perturbawas ratified; the sale of Louisville N. 0. & Texas to Illinois tion the news of Mr. Jay Gould's death on December 2. Hi8
Central was completed; the Northern Pacific preferred stock- stocks were well supported at the time, and two of themholders voted not to sell the $3~347,000 5 ver cent bonds due Western Union Telegraph and Manhattan Elevated-made a
them below 90; the U. S. Rubber Co. stock was made sharp advance within a short time afterward. The Phila. &
$60,000,000 and the Mechanical Rubber Co. was formed with Reading preferred income bonds fluctuated at times during
stock of $ 15,000,000 ; the Ohio Falls Car Co. stock wa8 offered ; the month, according to the varying reports from PhiladelFriday the 21st was a Columbus holiday and celebrated in phia in regard to the payment of the 5 per cent interest due
Chicago; the Reading and Boston & Maine and N. Y. & New in February, and the bonds and stock both became stronger
England deal was announced on the 26th, as mentioned above after it was announced on the 27th that an arrangement
in stocks; the Western Union Telegraph stockholders voted had been made with the Finance Company of Philadelphia to
the proposed increase in capital to $100,000,000.
manage all the P. & R. coal distribution and advance money
NoVElfBER.-The general election took place on the 8th of on coal in yards. The Northern Pacific preferred stock and
this month and Mr. Cleveland was chosen President by a large consolidated 5 per cents were very weak late in the month on
majority. Money ruled at firm rates but was never stringent; large sales reported to be for the account of parties forced to.
businei:.:s at the Stock Exchange was dull but cotton specula- liquidate; the stock touched 44½ and the bonds 66¼, On
tion was rampant. The rates for money on call ranged from the 19th rates for call money went as high as 40 per cent and
4: to 8 per cent, with the bulk of business done at 5@6 per cent tbis demoralized some of the industrial stocks, causing a
Prime commercial paper of 60 days to four months sold at 5@ sbarp break in Distilling & Cattle Feeding and Chicago Gas,
6 per cent. The surplus reserve of the city banks was $2,678,- with a smaller decline in others, until the whole market be525 on the 5th, $2,678,900 on the 12th, $4,560,925 on the 19th came steadier as rates for money relaxed. The Manhattan
and $6,726,350 on the 26th. Foreign exchange was easy in the Elevated stock was one of the strongest throughout and adfirAt half of the month but afterward became much firmer, vanced to 153½ on the 30th after it was known that the bids for
with a better demand for bills, partly on account of maturing a rapid transit underground road had practically failed. Westloans of sterling. Tne supply of commercial bills was ern Union Telegraph was another Gould stock that advanced
meagre for this period of the year, and a small amount of larg~ly, closing at 95¾ ex-dividend of 1¼ per cent. Rock
gold was shipped from New York late in the month. ,The Island was about the strongest of the Western railroad stocks.
actual rates for sterling l:iills were as low as 4 83½, 4 86½ and
Among the leading events of the month affecting financial
4 87 early in the month and towards the close were 4 85¼ @½ interests may be mentioned the gold exports and stringent
for 60 days, 4 87¾'@8 for demand and 4 88@8¼ for cables. The: rates for money that prevailed for a time; Mr. Jay Gould
Bank of England rate remained at 8 per cent. The U. S. trade died on the 2d; the proposal of Mr~ de Rothschild in the
figures showed an excess of exports of merchandise over im- Silver Conference at Brussels that all other nations purchase
ports amounting to $24,502,000; net imports of gold, $1,43!J,OO0; about $25,000,000 in silver per year for five years and that the
net exports of silver, $2,113,000. The range of Silver Bullion United States agree to continue its purchases of about $50,Certificates in New York was: Opening 85~~ . highest 86¼ , 000,000 per year was received here with much disfavor; a new
lowest 84¼ and closing 86.
steamship line was organized in England to run between
In the first part of the month, just before the general elec- Liverpool and Newport News in connection with the Chesations, securities were dull and the special stocks took most of· peake & Ohio Railroad; a decree of foreclosure was granted
the active business. Chicago Gas and the Distilling & Cattle for the East &West Alabama Railroad; the Savannah AmeriFeedi.ng were active throughout and recorded large sales cus & Montgomery road went into receiver's hands ; a conduring this month. The Green Bay & Winona trust receipts solidation was proposed between National Lead and the Naand Toledo Ann Arbor & North Michigan stock were both tional Lie seed Oil companies ; tI:ie National Cordage Company
active and higher on the prospective benefits of their alliance. proposed an increase in the capital stock from $10,000,000 to
American Cotton Oil was favorably affected by the annual $~0,000,000; tf:ie Ne~ York & New England advertised a
report. The new industrial stock, U.S. Rubber Co., came on mgbtly P1;1llman tram to Boston -0ver the New York &
the "unlisted" Nov. 18, and sold from 39 up to 43¾ , Texas . Northern road; the New York Ne~ Have~ & Hart& Pacific 1st 5s fell off slightly on rumors that the f>ecember ford voted to lease the Co~ecticut Rive! !oad,
coupon might be passed, but recovered partly when it was but control of the stock was bought m Boston & Mame ~teradvertised for payment. The Reading preferred income est and ~he leas~ defeate<;l; the Manhattan Elev~ted appomted
bonds declined 2@3 points on reports that the February in- a. committee, with J. Pierpont M?!~an as Cha1r~an, to conterest might not be paid in cash, and alsq on the c~mtinued sider the mattn of further . facllmes and extensions; N. Y.
law suits and investigations against the company. Western N. H. & Har~ford pr?posed to issue $15,000,0~0 of 4 per cent deUnion Telegraph, after the 10 per cent stock dividend had been bent_ure certificates ~n !898; the Oregon PaC1~c roa~ w,aa adpaid, sold first about 90 and then fell off. New York & New vert1sed for sale_agam _m foreclosure; th~ S1lversm1ths Coa:iEngland declined to 39½ on the last day of the month.
pany was orgamzed 'Ylth $14,000,000 capita!; t1?,e San Antomo
Among the principal events of this month came the Presi- & Aransas Pass modified plan of reorgamzati(!n was issued,
dential election on the 8tli and the conclusive Democratic the new bonds to be guaranteed by Southern Pacific Company;
victory; a consolidation of the National Lead a 'l d the the Edison Electric injunction against Sawyer-Mann Company
National Linseed Oil Company was proposed; thA Terre wa~ affiri:ned; a decree. of sa~e ~V~3 !lla:de for the Kentuckv
Haute & Peoria Railroad was leased to the Terre Haute & Umon Rallroad; the Ohio & M1ssiss1ppi directors of the B. &
Indianapolis; a committee of Richmond & Danville under- 0. party were again sustain~d; the large. suit to. recover
Jying bondholders was formed in Bal~imore; the Western $4,0~0,000 was begun ~y the Richmond Ter~mal receiver; ~he
Union directors on the 10th declared the stock dividend of 10 National Wall Paper Uompany proposed an mcrease of capital
per cent; the Chicago St. Paul & Kansal? City and Chicago to $30,000,000; the Ci1;t,. Jackson & Mackinaw Railroad lea~e
Great Western modified plan of reorganization ,was issued ; to C. H. & D. was enJomed; the Dulu~h S. Shore & Atlantic
the General Electric Company issued $6,000,000 more bonds; Co~pany p~chased control of th~ Mmeral Ran~e Road; the
the Toledo St. Louis & Kansas City pref. stockholders voted Rapid Transit. underground _franchise was offered m New Y ~rk
against the issue of a consolidated mortgage; the Kansas <;>nth~ 29~h with only one b1~, and t~at not acceptable; an mCity Wyandotte & Northwestern minority interest 'Sold to Junction m favor of ~h.e Pacific Mail. was grante~ against the
Jay Gould; the International Monetary Conference Jor in- Panama :m.~. to proh1b~t a contract with another lme of steamcreasing the use of silver met in Brussels late in the month; ers; the Phila.. & Read.mg an~ounced ~ contrac_t w!th ~he Finthe Macon & Atlantic Railroad was sold in foreclosure on the ance Co. of Ph1ladelph1a to manage all Its coal distribution; the
30th.
·
Waco & Northwestern road was sold Dec. 28 in forfjClosure.
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Federal Reserve Bank of St. Louis
1
GLE.ARINGS AND
CLEARINGS AND SPECULATION.
No one of course is surprised that the aggregate of
bank clearings for 1892 is considerably 1 :rger than for
1891. Such a, result .follows naturally from the conditions which prevailed. As the volume of olearings in
1891 fell 0:fli because of diminished business activity
and the poor crops of 1890, so in 1892 it increased
because of the large crops of 1891 and the increase in
general mercantile activity caused by that circumstance,
and also by the building operations connected with the
rproapective World's Fair. The favoring influences
1Jnein.tioned were so pronounced in their effects that
ttbey completely overshadowed certain adverse factors,
~uch as the depression in the South and on the Pacific
-Coast.
In the total for all the clearing houses there is an increase as compared with the twelve months of 1891 of
9·1 per cent; outside of New York the ratio of increase is a little larger, reaching 9·7 per cent. The
gains were not uniform through the different periods
of the year ; very marked improvement occurred in the
early months, when the influence of the large crops of
1891 and the speculation on the Stock Exchange engendered thereby were most potent ; after that the gain
became less important, ·september and October actually
showing a loss; in November and December, however,
improved results again occurred, December in fact
standing among the best months of the year. Considered. by quarters there was n.n increase of 22·6
per cent in the first quarter, of only 7·5 per
oont in the ser;ond quarter, of no more than
1
0·7 per cent in the third quarter, but of 6·4 per
•cent in the fourth. If we exclude New York from the
totals and thus eliminate the varying effect of Stock
..nh:change speculation, the comparisons reveal somewhat
~ore regular results; but even in this case the second
quarter shows smaller improvement than the first and
the third smaller than the second, with a change in an
upward direction again in the fourth quarter, the last
month being among the best of the twelve.
MONTHLY CLEARINGS,
Clearings, 7btal All.
Jtont1'.
1892.
'
1891.
Clearing, Outstde NtAO Y01'1',
P.Ot.
'
18112.
1891.
g
'
P.Ot
-
.ffaaaary .... 5,658,364,766 4,967,201,252 +13'8 2,1(14,, 748,800 2,010,201,886 -i-4'?
IFebruary •. 5,207,827,071 3,978,059,963 +81·1 1,969,858,135 1,668,522,867 +18·1
March ..... 6,296,215,774 4,234,119,720 +2s·1 2,035,569,251 1,'i88,018,198 +18·8
1st quar.. 16,156,907,611 18,174,380,935 +22·6 6,110,176,186 5,466,737,951 +11·7
April ...... 5,086,250,253 4,809,379,055 +5·8 2,010,732,893 1,913,501,261 +5·1
May ......... 5,030,866,169 4,809,892,260 -t-4·6 2,050,705,624 1,903,153,738 +n
June....... . , 4.934,575,714 4,878,933,019 +12·7 2,127,552,977 1,833,420,397 +16·1
2d quar... 15,051,tt92,136 13,998,204,334
--------
+1·5
6,188,001,494 5,650.075,896 +0•5
6 months. 31,208,500,747 27,l 72,585,t69 +u•9 12,299,167,680 11,116,813,347 +10·0
July ........ 4,637,6.17,395 4,892,464,102 +s·o 2,059,lfl0,683 1,914,347,854 +1'6
Augmt . . ... 4,531,998,969 4,180,843,188 +8·4 1,007,876,618 1,777,345,136 +12•4
September. 4.,810,848,SS!> 5,303,498,249 -9·~ 2,032,390,305 1,980,978,0-!0 +2·6
-~- - - - -
3d quar ... 13,970,4~,903 13,876,805,539
+o·1
-6,089,427,506
- - - ---5,67z,6n,oso
+1·3
1
9 months 45,189,084,650 41,019,390,808 +10·1 18,388,595,186 16, 789,484,8?7 +9·5
I
October .... 5,il4,977,315 5,495,373,196 -1"5 2,336,i70,479 2,213,263,568 +5·6
,881 <,009,554,813
a,su,'15,S5! 2,061,'99,<-0< +12·,
0,012,071,1,s
+u·s 2,,oo.s12,75112,m,m,2<< +1~•
Novembe,., ,,,.,,,...
.,._be,..
,.w,.,.,,,,. +o·•i
4th quar .. 16,919,978,S2t 15,897,450,997 +0•4 7,057,998,587 6,408,035,216 +10·1
- - 946.841.805 j +0·125446 593 773 23 197 519 593 - 1n
'Year ...... 62 100 062 974 56.
... I+
lt is interesting to note that the course of stock
~speculation, as measured by the share tr!)insactions on the
.New York Stock Exchange, has been almost precisely
1parallel with .that of the clearings. In the first quarter'
:the sales were 30,360, 1.00 shares, in the second quarter
18,366,825 shar~, ,in the third 15,914,068 shares, in the
fourth 21,234,5'9'9 -shares. As compared with the corresponding periods of 1891, there Wa8 an increase of
.almost 18 .million .shares in the first three m.o nths, an
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Federal Reserve Bank of St. Louis
SPEOUL.4.TJON.
11
increase of barely a million shares in the second three
months, a loss of over four million shares in the third
three months and a gain of 2 million shares in the last
three months. As far as the influence of these
share transactions on bank clearings is concerned, a
new factor was introduced in 1892 in tha organization
of the Stock Exchange Clearing Honse. This institu ..
tion began business in May last, and, starting with
three or four stocks, now clears the transactions in
nearly all the more active share properties, reducing
at once the ordinary bank clearings and involving a
very important saving in bank certifications. In the
eft.rly months of the year, when the share sales were
largest, this factor did not exist to affect results ; later
on, when the dealings fell off, the effect on bank clear..
ings was made still more pronounced by the operation of
this new contrivance. Disregarding that circumstance
for the present, the following shows the share sales in
number and value for each month of the last two years.
SALES OF STOOKS A.T THE NEW YORK STOCK EXCHANGE,
1891.
1892.
!lonth. Number
of Sharu.
---
San .... 9,992,043
Feb .... 11,43-i,111
March. 8,933,946
Valuu.
Par.
'
933,019,100
946,071,600
773,129,890
Actual.
Number
of Shares,
•
533,383,777 5,618,789
571,380,647 3,275,894
484,094,977 3,646,978
- - - --
Value,.
Par.
'
540,138,550
818,304,625
348,087,346
lstqr 30,360,100 2,652,220,1>90 1,588,859,401 12,541,661 1,206,580,520
April ... 6,815,142
May... . 6,176,456
June.. . 5,874,727
555,520,360
570,245,525
50:1,587,150
367,134,999 7,183,818
362,627,687 6,288,232
332,807,568 3,978,614
600,306,920
616,644,000
890,688,525
ActuaL
'
268,489,862
176,663,847
195,207,053
639,450,762
422,983,510
872,833,886
233,897,187
2dqr. 18,866,826 1,680,303,035 1,062,570,254 17,450,564 1,706,539,445 l,028,7U,083
---
6mos .. 48,726,425 4,282,523,625 2,651,429,655 29,992,225 2,918,069,965 1,668,164,845
337,567,350
496,602,702
600,468,100
229,303,6.19 3,154,417 309,692,100 180,596,168
321,470,097 5,845,383 574,306,250 324,MS,669
379,506,815 11,176,282 1,079,688,8501 592,654,462
Sd qr. 15,9U,068 1,434,638,152
930,280,561 20,176,032 1,963,687,200 1,097,299,283
July.... 3,613,374
A.ugust 5,447,178
Sept.... 6,853,516
--
9mos .. 64,640,493 5,717,161,777 8,581,710,216 50,168,257 4,876,757,165 ( ,765,464,128
Oct..... 7,042,896 649,152,900 412,424,192 6,736,872 652,261,450 373,563,805
Nov... 5,836,803 534,700,850! 357M?,312 5,&8,662 sos,826,<75 802,082,331
Dec ... ........., 769,1...•.. 522,432,5'2 6,777,0081 613,927,,.., 371,137,155
4th qr 21,234,500 1,962,967,200 1,292,304,04618,863,4321,799,415,375 1,046,788,291
Year ... 85,875,092 7,670,128,977 4,874,014,262 69,081,689 6,676,172,.5-iO 3,822,247,419
For the full twelve_months the sales at 85,875,092
shares for 1892 compare with 69,031,689 shares for
1891, giving an increase of a little less than 17 million
shares. We have seen that in the first three months
there had been an increase of almost 18 million shares.
Hence except for this period of activity the total for
the year would fall below that for the previous year.
Another important point to bear in mind with reference to the Stock Exchange business of the twelve
months is that dealings in the so-called "industrial "
properties have been unusually prominent; indeed,
these properties frequently monopolized most of the
attention on the Exchange, to the neglect of dealings
in railroad properties. Even with the industrial shares
included, however, the share sales at 85,815,092 shares
for 1892, though larger than for any year since 1886,
are smaller than in that year and smaller than
in all the preceding years back to 1879. Thus in
1886 the aggregate reached over 100¾ million shares,
in 1885 92½ million, in 1884 96 million, in
1883 97 million, in 1882 116 million, in 1881 114½
million, and in 1880 98 million. It is proper to state
that dealings on the Consolidated Exchange (which
clears its own transaction's) have been growing, that
Exchange having dealt in 33,554,085 shares in 1892
and 27,332,929 shares in 1891. On the two Exchanges
combined the sales would be 96,364,618 shares for
1891 and 119,429,177 shares for 1892; even on that
basis, however, the total for the latter year 1s but
slightly larger than the sales by the New York Stock
CL.l!J.ARINGS .AND
1.2
SPEOULATION.
Exchange alone in 1882 or 1881. The following com- total for the whole country, it is seen that while the
pares the sales on the New York Stock Exchange for clearings for 1892 are much larger than for 1891 and
also larger than for 1890, and in fact larger than in
the last eighteen years.
any year for a decade, they hll below the amount for
NUMBER AND V .A.LUE OF SH.A.RES SOLD AT NEW YORK STOCK EXCHDGB
1881, the aggregate then having been 63,471 millions
Stock11,• Av'ge Value11t
Av'gel Values+
J•tocu,•
Year,
Sha.res. Price (ap'roxim'te) against 62,109 millions for 1892. This appears strange, ·
Shares. Price (ap'roxlm'te) Year.
-----802 ... • 85,875,092 61·1) $4,874,014,262 1888.... 97,049,900 64"51 $6,260,809,961 for no one will dispute the assertion that the vol.
1 891.. .. 69,081,689 57•1 8,812.247,U9 1882 ••• 116,S07,271 86·12 7,689,458,436 ume of trade in agriculture, manufactures, &c., was
71,282,885 60"2 8,977,664,198 1881.. .. 114,511,248 71•59 8,197,506,408 immensely greater in the later than in the earlier year.
1800
889 .•.. 72,014,600 61"0 [ '·°""·"'1,891 1880 .••• 97,919,009 69·60 6,819,086,0M It will be seen, however, that there has been no lack of
888 .••• 65,179,106 62·5 3,589,519,143 1879 •••• 72,765,762 56·85 4,186,638,570
growth outside of New York. At New York, on the other
887 • • •• 84,914,616 61·1 4,508,778,899 1878 . .•. 89,875,598 M·lO 2,157,269,581
hand, there has been a marked falling off. The 1892
886 •••• 100,802,050 65'6 5,885,662,200 1877 ..•. 49,832,960 52'20 2,601,280,511!
clearings at this point indeed are smaller than those for
1885 ••.. 92,588,947 64"1 5,479,859,840 1876 . .•. S9,926,9UO 58•40 2,182,050,488
though the decrease in that case is not great, and
1890,
1884 •. . 96,154,U'il 61"77 5,939,000,000 1875. . .. 53,818,987 58•2() 2,862,908,683
fully explained by the change in the method
doubtless
is
* The aha1·u of stocks we take from the rooord kept by the Journal oJ
Oommerce for the yea.rs 1875 to 1884, incluaive; since 1885 the tota.le
stock sales. As compared with 1882 or
the
clearing
of
a.re our own complla.tion.
t The values of sa.les for the years 1875 to 1882, inclusive, are the 1881, when the clearings were respectively 46,916 and
figures made up by The Public. The totals for the remaining yea.rs are
our own.
4:9,376 millions, 1892 with an aggregate of only 36,662
Consideration of the changes in activity of Stock millions, shows a very great difference. One reason for
Exchange speculation from year to year is essential to 'the difference exists in the fact that stock sales in 1892
a, correct interpretation of the course of bank clearings were so much smaller than in 1881.
The share transin the same years. The market value of the share actions in 1892 had a value of only 4,874 million dolsales in 1892 was 4,874 million dollars, the value of the lars, while those for 1881 had a value of 8,197 millions,
sales in 1891 3,812 million dollars, giving an increase being a contraction of 3,323 millions, which on the
of 1,062 million dollars, which on the basis of our old basis of 2½ checks to each transaction would represent
method of computation (that is an average of 2½ checks a loss in bank clearings of 8,307 millions-a loss en.
to each transaction) would represent an addition to the tirely independent of that occasioned by the formation
clearings of tlie Clearing House Association of 2,655 of the Stock Clearing House. As a matter of fact.,
million shares. But owing to the formation of the however, the loss in bank clearings between the same
Stock Clearing House, which has reduced clearings, years is as much as 12,714 million dollars; it follows,
that method of computation is not available in the pres- therefore, that the whole of the falling off cannot be •
ent case. Just what the saving in clearings has been on considered to have occurred on the Stock Exchange
that account cannot of course be determined. The new business. Of course, in some respects the trade condiStock Clearing House clears not only the ordinary sales tions in 1892 were greatly dissimilar to those of 1881,
from day to day, but also various other transactions as for instance in the fact that prices for »early all
involving the receipt and delivery of stocks. Altogeth- commodities were much lower, and that the spirit of
er 63,272,890 shares (counting one side only) were speculation was held in restraint instead of being ramcleared by the new institution up to the end of 1892, and pant as in 1881. But after all this has beeR said, it is
through these clearances a saving in bank certifications still a question whether we have an entirely adequate
of checks was effected of about 2,419 milliou dollars. explanation for the much smaller volume of clearings
The saving in bank cl~arings would of course be less in 1892 than in 1881.
than this, since some of the certified checks would
As regards the clearings outside of New York, the
necessarily be deposited in the bank certifying them total has risen from 14,094 millions in 1881 to 25,and hence would not have to go through the Clearing 446 millions in 1892-an addition of 11,352 millions in
House Association, and consequently would not in any the eleven years. Of course a great many places are ihevent count in the bank clearings. It is obvious, how- cluded in 1892 that were not included in
ever, from the magnitude of the saving in certifications 1881, but only about one-third of the increase
that the saving in bank clearings must have been large of 11,352 millions can be said to have arisen in that
also. This explanation will help us to a better under- way. Moreover, the addition of so many places is in
standing of the subjoined record of bank clearings in itself the most substantial evidence of growth, since it
the United States extending back to 1878.
argues an expansion in trade which made the fermation
CLE.A.RINGS.
of new clearing houses an absolute necessity; for our
Per Ct.
Per Ct totals include more clearing houses simply because there
Per Ct.
ClearTotal
New York Inc. or Inga Outside Inc. or
Inc.or
Year.
are more of such institutions in existence. At some of
Clearinl{s.
Clearings.
New York.
Dec.
Dec.
Dec.
--+9•1 the Western cities the growth has been really marvel-1892........ '36,662,469,20 l -f-8•6 $25,446,593,773 +1n 162,109,062,974
-6·4
1801 ..... . .. 88,749,822,212 -9·9 23,197,519,598 -o·8 56,iw,,841,SOG
1890...• . ••. 87,458,007,609 -t-4•4 23,370,482,393 +1s·2 60,829,090,002
+s·s ous. We have not the space to give the comparisons
56,175,827,997
+1s·4
+lO'o
1889•••••••• 80,890,104,900 1-1•·• 120,280,228,092
back to 1881, but the following presents the figures
1888........ !U,100,027,521 -7·1 16,441,607,346 -t-4·8 49,541,684,867
-s·1
+s·s since 1884 for ten leading points outside of New York.
1887............,,........ 1 ---0·• 17,672,.,.,..., +1s·2 51,147,529,094
0
1886... . . . . .
lstm .......
1884... .... .
1883..... .. .
1882........
1881.......
1880...... . .
1879... .....
1878........
88,676,829,612 + 1~6
28,162,201,886 -91
30,985,871,170 -17·2
1
37,434,800,872 -20:2
46,916,955,031 1 -5 0
40,876,882,888 +2'1'9
88,614,448,2281 +32·1
29,285,678,829 -t-47'2
19,858,671,807 -6·7
15,616,891,606 +l't2
18,321,839,708 -t-0'8
lS,214,113,618 -'1·6
lt.297,171,924 +2·4
13J)62,286,lffl} -()i)
l4,09t,II06,361 +2311
U,87MOO,OOO +•t
t.290,800.000 +16'8
'I.UM.100,000 -'J•2
49,293,72l,fs18
41,474,0.U,044
44,199,984,783
51,781,472,796
60,878,241,610
68,471,889,244
49,989,8'8,218
38,526,478.829
1'7,818,'1'11,307
+1s•9
-6·1
-14'9
-115·0
-4•0
1892. 1891. 1890. 1889. 1888. 1887. 18g6. 1885.
$
$
$
$
$
$
$
$
omi tted.)
New York ... 36,662 33,749 37,458 35,695 31,100 33,475 33,677 28,152
Chica.go _____ 5,136 4,4f>7 4,093 3,380 3,164 2,969 2,605 2,319
Boston ...... 5,005 4,754 5,131 4,773 4,427 4,388 4,095 3,483
+17·0 Philadelphia
3,810 3,296 3,710 3,646 3,204 3,19-1 2,913 2,374
+19''1 St. Louis . ... 1,231 1,140 1,119
75~
811
895
900
988
562
64i
829
+atC Sa.n Fra.n'co.
837
843
851
893
815
582
616
659
621
651
753
736
772
Baltimore...
-6·e
356
409
511
582
654
787
679
760
Pittsburg. ..
445
513
562
520
566
641
668
751
Cincinnati ..
so as to show the Kansas
224
284
391
447 · 420
491
460
512
City.
the country sep- New Orleans 508 !H5 • 524 504 456 431 389 38~
We have arranged the foregoing
figures for New York and the rest of
arately, giving also however the total of the two com,
bined. In this way the results are most interesting
and are also most easily analyzed. Taking firRt the
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
TWELVE .MONTH!.
cooo,oooa
Total.. ... . 55,962 51,347 55,558 52,347 46,231 48,304 46,953 39,644
Other oities. 6,147 5,600 l>,271 3,828 3,311 2,844 2,341 1,830
Total all .. 62,109 56,947.60,829 56,175 49,542 51,148 49,294 41,474
OutsideN.Y. 25,447 23,19823,37120,28018,442 17,673 15,61713,3~~
OL.E.ARJNGS .AND 6PBOUL.ATION-LISTIN9S .AT N. Y. STOOK IlXOH.ANGE.
..
~
At Ohicago, it will be seen, the clearings have
risen from 2,319 millions in 1885 to 5,136 millions in
1892, at Kansas City from 224 to 512 millions, at Pittsburg from 356 to 760 millions, &c. An interesting
fact brou_g ht out by our figures is that Chicago in the
late year even surpassed Boston in the total of its clearings. Of the eleven cities in the above (including New
York) only two show for the year 1892 smaller clearings than for 1891. These two arg San Francisco and
New Orleans. Taking all the clearing houses in the
country, large and small, the following are the only
ones recording lower totals, viz.: San Francisco, New
Orleans, Tacoma, Los Angeles, Indianapolis, Duluth,
Galveston, Nash ville, Norfolk, Fort Worth, Birmingham, Waco and Chattanooga. With two exceptions,
these places are all either in the South or on the
Pacific Coast, and hence the loss may be referred to
the depression which prevailed in those sections. A
very good idea of the conditions in the different sections of the country is furnished in the following, giving aggregate clearings by quarters for various
geographical groups. The Pacific group sl!ows a loss
for 1892 as compared with 1891 for each and every
quarter, but the Southern group, notwithstanding decreases at quite a number of points, shows a gain
( though not large) in the aggregate for each quarter.
The Middle and the Middle Western groups record
very decided gains, the New England section rather
moderate gains.
Clearinp RePorted.
(OOOs omitted.)
1892.
1891 .
•
1890.
NewYork .............. 1889.
1888.
1887.
1886.
1
1892.
1891.
1890.
Total New England .. • 1889.
1888.
1887:
1886.
I
First
Second
Third
Fourth
Total
Quarter. Quarter. Quarter. Quarter.
Year.
•
-$- -.10,046,731 8,862,701 7,891,007 9,861,980 36,662,469
1
';',707,648 8,8i8,129 8,204,184 9,489,416 83,749,822
8,918,802 9,870,836 8,885,188 9,783.7S213?.468,608
8,~,599 8,901,646 8,3152,995 9,985,872 3l5,89t5,100
1
7,120,700 7,655.706 7,486,840 8,887,282 81,100,028
8,262,838 8,78ll,062 7,772,015 8,6M,14183,474556
1
8,t>26,118 7,565,466 7.~.01'110,049,284 83,676:830
-,-i--,-
1,890,805
1,306,948
1.898,500
1,881,940
1,184,588
1,200.844
1,15-7,428
I,4U,7n
1,845,634
1,645,664
1,365,816
1,229,510
1,842,188
1,108,511
1,860,876
1,337,808
1,864,,1,98
1,267,506
1,159,764
1,129,855
1,062,680
1,588,~1 5,751,'90
1,469,206 5,459,491
1,M0,559 5,819,111
1,475,628 5,480,890
1,447,089 5,020,946
1,295,484 4,967,821
1,806,851 4,680,470
1892. 1,521,957
1,290,838
l890. 1,891,218
Total Middle... ... ..... 1889. 1,211,758
1888 1,041,669
1887. 1,062,564
.
1886.
937,625
1,508,697
1,328,760
1,470,276
1,268,804
1,\88,780
1,184,278
1"128,296
1,419,085
1,818,880
1,420,676
1,237,838
1,106,665
1,063,271
979,795
1,608,789
1,488,689
l,~,822
1,375,0iS
1,288,985
1,145,228
1,121,028
6,052,918
5,866.672
5,771,002
5,087,948
4,521,049
4,895,881
8,966,744
( 1892.
1891.
1890.
Tot. Middle Western. 1889.
1888.
1887.
\ 1886.
1,&r7,204
1,486.254
l,807,7l!O
1,148,~2
1,040,788
982,030
885,367
1,802,289
1,589,283
1.526.508
1,~15,IS36
1,188,862
l,1~1.218
924,568
1,881,294
1,618,501
1,556,176
1,280,117
1,148.718
1,077,108
983,110
2,088,948
1,802,504
1,658,779
1,894,287
1,296,617
1,208,594
1,087,864
7,869,785
6,446,492
6,044,218
4,988,162
4,614,485
U,13,940
8,880,909
1892.
£•,584
1891.
290,075
1890.
228,029
Total Pacific.... ... , •• , lSSU. . 209,580
1sas.
209,688
1687.
166,675
1886.
137,84d
276,456
5187,596
260,094
216,650
21s,J.26
20~,497
143,156
296,653
809,297
~.704
230,585
228,539
238,820
170,116
Sl'i,109 1,162.802
328,2'7 1,215,215
801,284 1,080,061
2~,886
902,66i.
244,846
800,M9
220,190
829,1~2
lYl,101
642,2;1
(1892.
l 1891.
1690.
Total other Western. 1889.
1888.
1887.
1886.
498,459
402,090
412,625
362,249
288,185
261,671
166,276
515,593
444,862
481,969
381,280
347,727
812,729
208,310
532,712
458,285
478,302
888,949
844,806
286,392
214,454
625,127
552,3'2
518,958
459t88
408,909
315,998
265,088
2,166,891
1,857,579
1,886.SM
1.591,861
1,389,077
1,176.700
849,123
1892.
744,668
741,088
711,74(1
58:1,099
525,768
481,092
427,814
679,161
tS59,090
650,411
516,696
449,875
4'8,794:
390,689
651,244
62(1,895
618,460
498,951
426,304
417,328
888,667
877,675
822,048
71'.17,631
688,470
608,004
547,695
490,764
2,952,748
2,852,071
2,768,251
2,ffi,216
2,005,401
1,~.909
1,697,424
1
l
f1891.
l
1
l
f1891.
[ 1890.
'l'otal Southern . ......
i1889.
l~.
1887.
1886.
l
(1892.
1891.
1890.
Toul ail.. .. ... . .. ... ,., 1889.
1888.
1887.
1886.
1
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Federal Reserve Bank of St. Louis
IG.JM,008 HS,051,66818,98~,371 16,918,116 62,109,068
18,174,38l 18,998,204 18,87d,80515,tl97,452 56,946,842
14,868,678 15,805,648 14,614,004 16.040,766 60,829,090
18,508,465 13,850,948 JS,201.891 15,619,524156,175,828
ll,411,28112,162,~ 11,840,636 14,127,182 411,541,635
12,417,214 1S,381,75611,969,21H 18,879,275 51,147,511
12,187,97111,258,996 11,834,889 14,lm,915 49,298,721
_
ClearlQa Reported.
(0001 omftted.)
_
I
Firat
Second
Third
Fourth
Quarter. Quarter. Quarter. Quarter.
'
•
.
s
1892. 6.110,177 6,188,967 6,091,314
1891. 5,466,738 5,650,075 5,672,671
1890 . 5,449,871 5,9S4,8Ut 5,728,816
1
Outside New York, . . 1889. 4,tKS,878 4,949,802
1888. 4,290,~1 4,506,88014,t04,~
1887. 4,154,876 4,592,69i 4,197,269
--------=-1886_._s._00_1.'--858_s_.:..6_0a,o~.822
4,848,8061
1
1.8
$
Total
Year.
$
7,056,136 25,446,~__......
6,408,086 28,197,5W"
6,256,983 28,870,482
6,68S,66Z 20,280,228
5,289,900 18,441,607
4,728,184 17,672,978
4,462,68115.~6,8111
ON THE NEW YORK STOCK
EXCHANGE IN 189~ •
From our table of listings on the New York Stock
Exchange, which we have brought down to cover 1892,
is obtained the important though not unlookeci for
fact that the listing of "new issues " of bonds, those
representing new c pitalization, has continued its
steady decline.
In the year 1888 these additions
reached a maximum, as was natural, since 1888 followed a year when the influx of foreign capital was
most free and nearly 13,000 miles of railroad were built.
From that year to the year just closed the decline in
these listings has been from 262 millions in 1888 to
207 in 1889, to 198 in 1890, to 191 in 1891, to 175
millions in 1892. This fall has taken place, moreover,
n face of the fact that the public is more t ban ever
particular t~at its securities shall have the broad mar ..
ket that "listing" alone can give. Of the 175 millions
of " new issues " admitted to dealings on the Exchange
in 1892, about 27 millions were bonds of companies
other than those operating steam railroads, leaving for
the latter 148 millions, to include not only loans for new
construction but also large sums for improvements, funding floating debt, etc. The fact that the Great Northern has not as yet listed at this centre any of the bonds
issued for the construction of its Pacific extension leaves
the totals for the last three years smaller than they otherwise would be, but does not affect the general result.
The estimate of the railroad construction in 1887 is
12,983 miles; in 1888, 7,028 miles; in 1889, 5,696
miles; in 1890, 5,671 miles ; in 1891, 4,471 miles; ,in
1892, 4,062 miles. It appears, therefore, that the listing of new loans in each year corresponds to some ex tent, as we should expect it to do, with the miles of
railroad built in the year next preceding. Consequently we may infer that in 1893 the total of such
listings will be even less than in the ye1:1,r just closed,
while unless there is a material change for the better in
the financial conditions existing, the following yenr
may very likely see a further diminution.
The cause of the curtailment of new loans, and consequently of railroad building, is, or ought to be, clear
to every one. We are feeling the effect of l0ss of confidence in our securities in the foreign markets as a result of our currency disorder. Instead therefore of
being able to borrow foreign capital as formerly for the
building of railroads, etc., we are thrown largely on
our own resources in . carrying out new enterprises,
beaides being asked to take back many of the securities
sold abroad during recent years. The necessity of thus
settling past indebtedness obviously dimiuishes our own
ability to embark in fresh undertakings. Remove the
doubt concerning our currency, and it is agreed in every
quarter that investors across the ocean will freely supply all the capital we need for legitimate projects.
Even if temporarily somewhat impoverished by unfortunate ventures, like those in Argentine and in Panama,
the foreign investor accumulates savings with marvelous rapidity, and would unquestionably place more and
more of these savings in this country if only he was not
frightened away.
LISTINGS
LISTINGS AT N. Y. STOCK EXCHANGE.
14
The role played by stocks is so different from that
played by bonds that variations in the total listings of
new issues do not posHess for stocks the same significance that they do for bonds. Moreover, a.mong stocks
the shares of the " Industrial company" so called now
quite overshadow in our annual compilations the railroad issues. Consequently the appearance on the Exchange of one or tw0 companies, more or less, having
an aggregate capital stocJ.c approaching that of the
United States Rubber Company, whose ~6-½ millions of
stock was listed in 1892, transforms completely the
total for the twelve months. The year 1890 was
notable for the heavy listing . of industrials-the
Distilling & Cattle Feeding, the ational Linseed Oil,
the National Starch, the American Tobacco preferred,
and other large issues, having been granted the full
privileges of the Exchange. In 1892, on the contrary, though a considerable increase in the number of
Industrials took place outside the Exchange, on the
Exchange if we except the Rubber Company referred
to above and the Westinghouse Electric Company, and
also omit certain consolidations like the General
Electric that are properly omitted from new capitalizations, the additions to this class of security have not
been of much moment. Hence it is that the total of
new stock issues in 1892 is only 100 millions, against 96
millions in 1891 and 164 millions in 1890. Perhaps
the listing committee is becoming more exacting in its
requirements. We hope this is the case, and that in
future they may grow still more so, insisting if possible
on the publication by all companies receiving the recognition of the Exchange of at least semi-annual statements of earnings and of balance sheets in clear form
as often as once a year.
The following table shows the total listing of both
stocks and bonds during each of the last eight years,
the classification into "new issues," "old issues, etc.,
being in accordance with the principles explained in
former artjcles.
LI TrnGS ON NEW YORK STOCK EXCHANGE.
Bonds.
New issues.
Old iss·ues
Replacing
newly lisud. old secm-ities.
Total.
- - - - - - - - ----1892..••....••. $l'i'5,125,6OO $12,352,000 $130,383,900 $317,861,500
1891. .••• •••••·
1890 _____ -·····
191,397,iOO
1889.•••••.•••.
206,86-4,000
1888 .•••••••••.
16,187,00(}
60,061,000 287,645,700
198,158,850 105,204,279 381,504,750 684,867,879
6,050,000 176,806,000 389,720,000
261,989,631
11,792,000 237,220,587 511,002,218
1887..••.•••.•. 180,386,000
16,304,000 146,787,321 343,477,321
1886•.•••••.•..
81,641,000
47,354,390 109,102,300 238,097,690
1885 ••••.......
103,844,000
27,700,000
65,715,000 197,259,000
Stocks.
1892 .••...••••.
1891 .••.. ·•····
I
$99,905,900 $48,364,850 $88,765,355 $237,036,105
96,540,75-1
1890·-····· ..•. 164,461,729
1,650,000
90,724,200 188,914,954
10,490,747 263,039,854 437,992,330
1889.••••...•• .
69,721,717
9,936,000 179,992,057 259,649,774
1888.•••....••.
62,408,357
10,372,475 175,447,443 248,228,275
1887•.•••......
98,726,791
32,643,426 138,683,333 270,053,550
1886...•••..•.
54,006,350
67,236,800 209,226,200 329,469,350
1885 .•••. ···---
17,783.116
3.700,000
35.430,000
56,913,116
NOTE-Applications for the listing of Trust Company receipts and of
securities marked ••assented" (if preparatory to reorganization), or of
securities stamped "assmned" or "assessment paid"-the securities
themselves having previously been listed-are not included in this table.
Unlike some earlier years, 1892 covers the listings of
only a small amount of securities issued upon properties
reorgan.ized after default. It was, to be sure, a year in
which some important defaults occurred, defaults that
will necessitate extensive reorganizations; but the items
of securities "replacing old securities" in the table
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Federal Reserve Bank of St. Louis
preceding embraces for . the last year a _mm1mum of
stocks and bonds of co~panies recently bankrupt, now
just on their feet again.
And yet while this is so,
voluntary reorganizations, or more properly, readjustments of finances, undertaken for s@me reason other
than financial embarrassment, have been prominent beyond precedent. These swell the figures of
'' securities replacing old securities" in our table, and
will affect materially the financial future of .the companies concerned. For instance it was during the
twelve months of 1892 that the Atehison arranged to
retire its incomes with second mortgage Class A bonds,
payment of interest on which is obligatory. On January 1, 1892, $79,225,000 of the incomes were on the
list; on December 30 the list contained $6,132,200 incomes and $70,308,000 of Class A bonds, while the
company reports that practically all the income bondholders have agreed to the terms of exchange. This
move affords the company what circumstances require it
should have-namely, an issue of bonds with which it
can provide for the large capital expenditures demanded
by so extensive a system of roads. Under the provisi0ns of the mortgage it has accordingly issued and
listed 5 millions Class B bonds for improvements on
any part of its system except the Colorado Midland
and St. Louis & San Francisco.
The readjustment next in importance that appears in
the year's listings is the arrangement by which the
Chesapeake & Ohio has retired almost all its 13 millions
first preferred and 12 millions second preferred stock in
exchange for common stock and new general mortgage
4½ per cent bonds in certain proportions. At the end of
the year about three-quarters of a million of each class of
the preferred remained on the list, and it is pro-..able the
remainder will soon be converted, for the assenting·
shares are deposited in trust and held alive till the
exchange is completed so as to preclude any advantage
to shares not converting. The conversion has raised
the common stock from 45 to nearly 60 millions, while
$17,773,000 general mortgage bonds have been listed,
this latter amount including 3½ millions for improvements and 2 millions for purchase of the Big Sandy and
other roads.
Another large operation that at the time puzzled
many people was the reduction on the list of the Chicago St. Louis & Pittsburg 5s by 12¼ millions. These
were reduced because exchanged for consolidated 4½
per cent b0nds of the Pittsburg Cincinnati Chicago &
St. Louis, the present company, which belongs to the
Pennsylvania system. Furthermore, the Atchison has
listed St. Louis & San Francisco guaranteed 4s for
111,610,000, of which 4-½ millions retired the San Francisco company's first preferred stock of a like amount,
giving the Atchison compl_ete control ·of the San Francisco company, and 1-½ millions were used to acquire
Atlantic & Pacific second 6s guaranteed by the San
.Francisco, the balance going to pay floating debt.
0 ne of the leading occurrences of the year all will
conceo e to be the listing in New York of 25 millions of
Baltimore & Ohio stock, the market for this stock having formerly been confined to Baltimore. The 25 millions here mentioned includes the $8,975,000 deposited
in trust until July 11893, the 20 per cent stock dividend
paid Dec. 311891, and the 7 millions used in 1891-92
for improvements, purchase of Pittsburg & Western
stock, etc. The Lehigh Valley Railroad Company,
which patronized the New York Exchange for the first
time in 1890, and whose stock is still exclusively dealt
in in Philadelphia, has also been prominent among the
1.5
i:,JST11f'f}S .AT Jf. Y. STOCK EXOHANGE-MEROANTILE FAILURES.
companies asking to list securities. Its double-track
line to Buiffa'J:o having been completed, relieving it of
the necessity or using the Erie's tracks for 188 miles, it
has put on the list 5½ millions of Lehigh Valley of
New York guaranteed bonds, exhausting the authorized issue of 15 millions. It has likewise added 3 millions to the Lehigh Valley Terminal guaranteed 5s.
There have also been listed here $5,360,000 Georgia
Carolina & Northern bonds guaranteed by the Seaboard
& Roanoke and Raleigh & G.aston RR. companies (Baltimor6' properties)-an important loan, inasmuch as it
gives the Seaboard Air Line a through route to Atlanta,
permitting of competition with other roads for Georgia
-travel. Another innovation was the introduction to
the New York Exchange of two loans of the "Merriam
roads," which heretofore have al ways been peculiarly
Boston concerns. These loans are Chicago & -West
Michigan 5s and Kansas City & Memphis Rail way &
Bridge bonds, the latter guaranteed by the Kansas City
Fort Scott & Memphis.
As regards the changes in the industrial and miscellaneous companies, we have already alluded to the
Rubber Company's listing. The General Electric Company, formed by merger of the Edison General Electric
and the Thomson-Houston companies, has listed 34½
millions stock (common and preferred) given in
~xchange for stocks of constituent companies and about
8 millions of 5 per cent debentures. The Coloradp
Fuel & Iron Company has also superseded the Colorado
Coal & Iron and Colorado Fuel companies, listing
$9,250,000 common and $2, 000,000 preferred stock
issued to retire old stocks. The Tennessee Coal &
Iron has absorbed the De Bardeleben Company and
increased its common stock by $7,850,000; the Western
Union's stock dividend has occasioned an increase of
its stock of $8,620,000, and the Westinghouse Electric
having taken a residence on the New York Exchange
has listed $3,755,700 preferred and .$5,333,940 assenting common stock.
Altogether ·1892 has been an eventful year in the
listing department of the Stock Exchange, notwithstat;1ding the decrease in new loans.
BUSINESS
CONDITIONS
REFLECTED IN
MERCANTILE FAILURES.
In writing a year ago with regard to the failures, we
stated that the larger number and the large liabilities
the annual list at that time disclosed were due to unfavorable circumstances which had then already passed
into history; and furthermore that our industrial condition at that date other than the currency weakness
was more than usually sound and promising. This
satisfactory outlook in January 1892 was the result
of our immense crops in 1891 and the higher prices we
had been getting for them during the last half -of that
year. That outlook has been fully realized. Even
before examining any evidences of the volume and
character of the business during the year which has
just closed, no one would hesitate to say that 1892 has
proved far more prosperous than either 1891 or 1890.
Taking the failures as a test of trade environment,
we find this conclusion well supported. For illustra
tion, according to R. G. Dun & Co.'s record, the num. ber of disasters was 10,344 in 1892 and the liabilities
were $114,044,167, against 12,273 in number and $189,868,638 liabilities in l 891. If we look back further the
comparison becomes more striking, for we discover that
the total of liabilities has not been so small as report
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
ed for last year since 1882, although during the ten years
farm products, mineral production, manufactures, railroad and other stocks and bonds have all been largely
added to, some of them very largely, and the volume of
transactions thereby resulting must have correspondingly
increased. Of course prices have fallen to some extent
in the same time; and yet with such a growth in productions there would be growth in liabilities if no better state of business solvency existed than in the
earlier years referred to. But in this case there has
been, we repeat, no year when liabilities were so small,
leaving the inference that there has been no year when
the business public was so comfortably situated. To
bring out this fact, and some other interesting and instructive features of the 1892 results, we have prepared.
the following statement.
Year.
1892 .....
1891.. ...
1890. ..
1889 .....
1888 .... .
1887 .....
1886 .. .. .
1885 .....
1884 .....
1883 . . ...
1882 . ....
1881. . .. .
1880 .....
1879 .....
1878 .....
Nu mber
oif
Fai lu res
Number
in
Business.
Fai lures to No.
in Business.
Total.
10,344
12 ,273
10,907
10,882
10,679
9 ,634
9 ,834
10,637
1,0 ,968
9 ,184
6 ,738
5,582
4 ,735
6 ,658
10 ,478
1,172,545
1,142,951
1,110,590
1,051,140
1,046,662
994,281
969,841
919,990
904,759
863,993
822,256
781,689
746,823
702,157
674,741
1 in 113
11n 93
l in 102
1 in 97
1 in 98
l in 103
lin 98
1 In 86
1 in 83
lin 94
1 in 122
l in 140
l in 158
1 in 105
lin · 64
$114,044,167
189,868,639
189,856,964
148,784,337
123,829,9i3
167,560,944
114,644,119
124,220,321
226,343,427
172,874,172
101,547,564
81,155,932
65,752,000
98,149,053
'234,383,132
Proportion
Liabtlities.
-
I
-
A.TJerage. .
----$11,025 ·
15,471
17,406:
13,672:
11,595·
17,392:
11,651
11,678'
20,632:
18,823;
15,070•
14,530·
13,886:
14,741!.
22,369•
We think it would be difficult to express more clearly
the favorable conditions which have prevailed in busi
ness circles in 1892 than is done by the foregoing-.
Every column of the t.able helps to confirm that view.
Take as an instance the column giving the proportion
of failures to the numbu in business. Of course the
number in business is all the time increasing, so that
the fact that there has been an increase in the number
of failures compared with a previous year does not of
itself prove a worse condition of trade. But these proportions allow · for that difference and consequently
·represent the relative situation. Thus in 1884 one in
every 83 failed and in 1878 one in every 64 failed, while
this year only one in 113 failed, which is not only a
better result than in the years named but the · best
record of any year back to 1882. Look also at . the
showing as to average liabilities-an average of only
$11,025 in 1892, which is the smallest average in the
whole fifteen years. We criticised and showed the
inaccuracy of a very unfavorable opinion expressed by
a London journal last fall on the subject of America's
trade condition, we in-sisting that commercial affairs
were in a promising state here, indeed in better shape
than in any other country in the world. These figures.
fully corroborate our contention.
· But notwithstanding all that we have said is true, if
we were to gather accurately the consensus of the
whole business community, the result obtained would
not support the idea that this has been a conspicuously
prosperous year. Consumption of almost every article
of merchandise has .been large and the cotton goods industry has probably thrived beyond any other; the grocery trade in nearly all its branches has likewise enjoyed a good share of activity with fairly remunerative
prices ruling. On the other hand, large and important
departments of business and sections of the country
have shared to a very small degree in the better conditions as to profitableness, while there has been almost
everywhere an absence of buoyancy and an entire un-
16
MEROANTILE F..fILURBS-LISTiNilS
willingness to invest in undertakings at all venturesome. Stated in brief, we have apparently been in the
midst of prosperous conditions, and yet as a people
without achieving prosperity. Our last taste of full
industrial success was in 1879 to 1882, concurrently
with the resumption of gold payments, when the failures uropped to only one in 158 in business.
This fact brings up a peculiarity in the figures taken
from any of the later reports of failures-a feature which
seems to be typical of the times. It will be noted that
for five years now these disasters have reached an annual
total of over ten thousand and for ·eyery year since 1882
the number has been over nine thousand, ~nd in all
but three of the ten years over ten thousand. This
serves to indicate that of late in even our best years
the risks of business have become greater than they
used to be, while the small average liabilities which
mark so many of the years suggest that the men who
fail are the smaller capitalists. No doubt the returns
would prove this latter fact to be the conspicuous
AT N.
Y. STOOK EXfJH.AN9E.
feature of all recent years if we could eliminate from
each return the few 'large failures. The Messrs. R. G.
Dun & Co. would greatly add to the usefulness of
their compilation by g1vmg each year a short
additional statement dividing the liability item
into classes arranged according to the amount
of liability, so that comparison could be made
from year to year between the insolvents of each
grade. Even as the table stands, contrast the yearly
number from 1879 to 1882 with the number from 1883
to 1892, and also note how large relatively the average
of liabilities was in the earlier good period from 1879
to 1882 and how much smaller the average has been in
many of the re.c ent years. Small average liabilities
then, when coupled with a l~rge number of failures, do
not afford evidence that business conditions favor all
classes of traders ; they are in that case evidence
rather of a narrow margin for profits, of severe competition, and of a hard struggle and a poor chance for
the small capitalist.
MERCANTILE FAILURES IN THE UNITED STATES
AND
CANADA FOR SIX YEARS.
FAILURES FOR 1892, 1891, 1890, 1889, 1888 AND 1887.-PREPARED BY MESSRS. R. G. DUN & CO.
Number
1892.
'"' Busi- States and Ter- No
ness in
ritoriu.
Faii. Amount of
1892.
uru. Liabilities.
1891.
No
!~:..·i-
1889.
1888.
1887.
Number
No
No.
No
in BusiAmount of .Fait- Amount of Fail- Amount of Faii- Amount oj ness in
Liabilities. ures. Liabilttiett. ures. Liabilities. urea. Liabilitie11. 1887.
1890.
No.
Amount of FailLiabilities. ures.
___ .______ ----1-----1---1----1---- ----•I - - - - - -· --1----1------11--Eastern.
14,969 Maine .. _..•..
8,392 N. Hampshire.
6,704 Vermont... . .
52' 032 lMassachu't's
Boston ....
8,799 hode Island.
18,979 Connecticut ..
109,875
·
Middle.
Southern.
81's,510
215,979
225.107
6,386,321
7,487,600
1,541,341
2,719,020
130 1,2fs,691
4.7
383,985
39
404,479
405 3,715,237
265 16,547,968
107 4,036,647
176 1,447,617
196 l,tf4,582
49
44.9,136
40
319,253
492
4,656,965
320 16,130,634
130 10,048,642
137 1,624,657
---•1-----1---
160
56
34
397
275
132
137
$
1,457,797
458,845
197,950
4,381,262
4,044,412
1,226,886
1,265,103
---
$
162 1,811,778 14,266
48
203,650
8,434
236,088
6,603
45
375 4,106,140 l 48 703
275 4,848,617 .S
•
7,306
122 3,127,662
117 3,500,4.84 16,920
606 6,013,053
513 10,786,884
138 1,504,851
706 5,457,964
249 5,118,979
21
68,100
137 2,268,765
291,034
37
712 7,899,3i7
637 26,092,583
187 4,479,534
87914,190,744
404 11,256,843
29
434,600
115 2,530,927
42
357,111
748 8,475,447
576 44,045,679
154 2,779,871
853 10,988,053
308 6,881,412
18
213,822
152 2,254,304
34
253,800
- - ----- ---1-----1--
589 9,495,033
585 17,351,580
128 1,469,846
793 9,178,113
278 9,886,227
15
156,200
129 1,226,094
25
157,145
599 7,944,679
690 17,060,170
151
f,485,847
691
6,849,738
213 3,650,030
26
324,200
174 1,9'75,593
339,819
59
-1•----·1--
88,244
52,933
29,t'.!49
58,481
25,084
4,297
16,495
3,884
553 8,273,224
516 40,841,506
120 1,722,971
694 7,056,083
240 8,252,109
26
495,219
152 3,050,461
44
288,865
178
39
107
99
259
31
228
247
177
457
211
261
299
1,323,659
161,800
1,059,732
764,458
2,425,680
267,700
2,108,675
3,615,425
2,262,871
5,214,057
1,902,697
1,979,886
2,241,390
180
72
128
82
274
144
258
246
181
539
185
390
426
1,629,163
349,900
1,381,706
518,908
5,829,903
1,486,411
3,396,365
1,924,576
a,740,102
8,960,141
2,203,819
7,695,245
6,394,298
148
67
109
72
145
41
186
195
157
831
212
233
257
1,203,525
407,024
670,640
419,915
1,671,878
155,360
2,226,300
1,437,564
4,594,886
4,002,575
1,817,305
2,991,976
6,144,020
---1-----1--------1-----1
191
77
197
82
15 l
49
134
188
185
387
173
223
219
1,403,900
336,943
1,384,754
928,317
1,627,945
348,142
1,368,252
971,906
1,686,714
4,503,138
994,392
2,157,010
2,060,527
168
69
151
66
213
69
161
132
202
568
156
285
206
1,927,770
442,974
1,408,924
424,867
2,706,494
407,177
1,692,622
1,088,615
2,471,778
4,110,355
1,245,546
1,939,077
1,555,921
138
57
145
78
195
107
99
140
193
503
90
281
198
1,046,606
385,631
1,098,932
1,073,827
1,713,462
564,469
1,637,477
1,133,134
2,363,374
7,098,241
837,900
3,274,244.
1,480,664
15,450
8,513
9,755
6,973
11,265
4,991
9,687
8,684
11,341
19,084
9,817
22,153
12,875
Tot. South'n 2,583 25,328,030 3,105 45,510,537 2,153 27,742,918 2,206 19,771,940 2,446 21,422,120 2,224 23,707,961 150,492
Western.
.. _.. ····
7 8 ' 737 rOhi<_>
Cincmna.tt
45,071 <Ilana ...... .
86,145 5 Illln<_>is. - - .. .
l Chicago ..
49,822 ~chigan .... .
35,933 Wisconsin ... .
38,265 Iowa ......... .
22,826 Minnesota. ..•.
51 4.29 !Missouri . ...
•
St. Louis . .
22,285 a.nsas ....... .
20,M2 Nebraska .... .
3,154 North Dakota.
5,872 South Dakota.
5,286 Montana ..••.
13,854 Colorado ..... .
479,191
140
45
43
4~5
239
102
193
Total Middle 2,407 31,~09,630 3,005 67,241,719 2,8f.3 75,892,388 2,542 48,920,238 2,603 39,630,076 2,34.5 69,980,438 279,267
18,301 Virginia. ...... .
10,660 West VirjOllia.
ll,Oti8 No. CaroTina. ..
7,956 So. Carolina. . .
15,857 Georgia . ..... .
5,825 Florida ... .. . .
10,2~7 Alabama ..... .
8,194 Mississippi. .. .
10,119 Louisiana ... .
24,240 Texas .. . ..... .
10,ti7~ Arkansas .... .
26,18~ Kentucky .... .
14,631 Tennessee ... .
173,828
9f5,257
276,167
157,558
3,828,324
4,976,900
1,277,492
1,053,464
Tot. Eastern 1,100 12,535,162 1,187 19,388,878 1,169 27,774,624 1,364 34,343,869 1,191 13,032,255 1,144 17,834,419 102,232
94,600 New York ....
59,424 N.Y. & B'kn.
36,353 New Jersey ..
97,613 Pennsylvan ...
25,167 Phlladelph. •.
3,862 Delaware .... .
19,013 M11ryland ... .
5,-i68 Dist. of Col. •..
341,500
98
35,
34
422
215
136
160
433
53
202
226
254
219
190
200
241
306
59
206
209
10
19
a4
202
4,156,170
1,046,468
1,753,541
2,651,638
4,995,562
2,969,296
~,009,238
1,483,122
3,653,838
3,860,031
986,423
1,813,623
l,t'.!88,291
95,000
92,100
980,949
2,374,088
498 4,590,143
80 2,255,605
208 1,671,239
242 1,545,246
289 4,758,568
232 2,308,282
172 3,234,330
185 1,267,704.
258 2,699,281
320 11,255,287
40
913,608
275 5,625,331
395 3,288,365
14
181,041
32
509,856
83
983,245
264 1,544,525
470
85
224
335
308
216
164
241
323
310
48
325
271
13
67
45
169
5,262,707 424
1,528,506
77
2,912,144 211
1,928,881 376
7,856,550 341
6,082,924 258
3,129,201 202
2,424,545 325
5,856,857 356
3,797,306 298
1,009,565
29
4,539,779 292
1,573,500 276
· 96,264 101
1,182,765 .••..•
410,896
34
981,894 165
- -·1 -----1---1-----1---- ----1--
Tot. Western 3,063 36,159,978 3,587 48,631,656 3,614 50,573,284 3,465
Pac. & Territ's.
1,378 Oklahoma ...•.
1,649 Indian Ter ... .
7,871 Oregon ....... .
..
33 ' 259 Callfornia
S. Francisco
1,248 evada .••. . ..
3,933 utah ..•.......
1,512 New Mexico ..
1,065 Wyoming .... .
1,9nl Idaho ........ .
12,957 Washington •..
1,168 Arizona. .•...•
150 Alaska •••...•.
i
11
25
215
379
206
8
104
18
7
17
196
5
51,717
99,700
1,615,100
2,592,800
1,93a,soo
27,300
628,400
377,900
44,000
90,250
992,300
58,100
13
84,200
14
118,100
157
679,600
466 2,402,800
232 2,339,500
. 6
60,300
139
736,400
10
184,048
4
23,000
28
126,800
309 2,274,700
11
66,400
26
13
tj6
471
170
10
40
13
2
20
266
11
317,300
37,000
591,500
2,485,000
1,739,400
170,200
159,550
111,700
5,000
152,100
2,030,8U0
74,200
5
4
66
520
193
13
28
25
7
19
119
6
1,225,220
668,878
1,845,798
2,428,798
4,857,567
3,674,998
2,469,035
2,579,762
4,299,235
2,155,669
817,201
2,629,209
1,538,718
610,227
534,274
817,001
457
81
259
318
360
232
211
284
316
166
52
244
248
105
···2i
149
4,191,599 398
1,605,207 ll8
2,134,627 212
2,216,438 300
6,712,900 320
4,865,950 189
2,272,182 152
2,510,107 302
4,811,722 269
1,145,842 140
893,626
55
1,225,393 289
968,620 196
1,240,427 .. ~~-~
146,333
39
1,264,647
79
4,405,896
4,419,254
1,838,494
2,459,744
5,997,478
1,875,915
2,380,950
1,976,822
3,222,800
904,222
2,140,700
1,702,286
644,948
1,151,850
534,823
479,368
l
S 69 •870
37,786
l
Sl4
S 67'
33,863
29,404
29,686
2d,197
l
.S 52 ' 041
26,914
17,158
} 11,073
2,737
ts,216
--1----•1----- - - 37,190,088 3,228 35,554,219 2,948 33,969,509 414,759
8,900 ·••···
24,500
2
250,300 139
3,239,300 462
1,060,500 185
44,500
9
137,100
21
155,400
4
170,200
19
166,000
23
1,235,500
65
104,500
7
.•••...••••••.•••.
21,500 ·••···
1,086,000 129
647,200
3,315,100 272 1,660,700
4,660,700 183 15,282,606
54,400
14
45,800
99,133
39
213,557
14,250
17
253,199
1,571,100
11 1,367,400
266,713
16
165,700
410,000
54
233,500
41,000
6
33,000
68,151
Tot.Pa.c.&T. 1,191
8,511,3671,389 9,095,848 1,128
7,878,7501,305
8,558,2021,211 14,191,303
1,17a,,s45
Grand totals I0,3#
u4,o,u,167 ra,27.3 rllq,868,638 ro,907
rllq,8,J6,¢4 ro,88a
r18,7l/.i.,3.]7 ro,679
973 22,068,617
~
516
5 6.167
~ 26 522
5 '
1,370
2,675
1,943
919
2,449
3,861
1,007
102
47,531
r~,829,'ll.1 9,634 rtr,,,s6o,9#
994,281
86,751 Dom. of Can*. 1,688 13,766,1911,88917,100,649 1,847 18,289,9351,777 14,713,2281,677 14,081,1691,25210,386,88'
* Inoludmg Newfoundland.
74,266
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
BANKING
AND
STA'I'ISTIOS-HOME
GOVERNMENT FINA OE ,
ATIO r AL
BANK~, SILVER, &c.
From the annual report of Hon. Charles Foster,
United States Secretary of the 'rreasury, the following
extracts are made :
RECEIPTS AND EXPENDITURES.
Fiscal Year 1892.
The revenues of the Government from a11 sources for the
fiscal year ended June 30, 1892, were:
F-rom customs ..•...•.......•...•...•...•.......•..•.. .•.. $177,4.52,964 15
From·tnternsl revenue.................................. 153,971,072 57
Erom profits on coinage, bullion deposits and assays.
2,020,512 39
i\-om sales of public lands........................ . . .. .
3,261,875 58
From fees-consular, letters•pa.tent, and land........
3,130,437 06
P-rom sinking•lund for Pacific railways...............
1,828,77146
From tax on national banks............................
1,261,338 11
Brom Customs fees, fines, penalties and forfeitures..
909,249 66
:Rrom re•payment of interest by Paci.to railways.....
962,437 67
&:om t1ales of Indian lands............................
847,813 23
:$Ihm Soldieri;' Home, permanent fund...............
194,385 45
From tax on eeaI•skins.... .••. ..... .•... .. . . .. ...... ...
46,749 23
Bl'om immigrant tund......................... •• . . . . . . .
330,128 65
From sales of Government vroperty........ ..•..... ..
236,498 38
]iJ'om deposits for surveying public lands.............
149,966 21
&-om ssles of ordnance material......................
101,242 35
From sales of condemned naval vessPls..... ........ ..
31,854 12
From sale of old Custom House, Milwaukee, Wis.. .
64,000 00
From F-ale of land Brooklyn Navy Yard...............
593,860 33
From Smithsonian Fund................... . . . . . . . . . . . .
200,000 00
From Navy Pension and Navy Hospital Fund&, etc..
1,118,155 25
From depredations on ])Ubllo lands....................
61,623 85
.F.rom the District of Co1nmbia.... .... ..•..••. ..•. ... ..
2,967,044 71
From proceeds District of Columbia. ten.year fund•
ing bonds........................................ ......
2,412,744 00
From miscellaneous sources............ . ••. . . •. . . . . . . .
783,059 83
F'rom postal service.....................................
70,930,475 98
'l'otal receipts .....••...•...•...........•..••...... $425,868,260 22
The expenditures for the same period were :
For the civil establishment, including foreign intercourse, public buildings, collecting the revenues,
tleflcienoy in postal revenues, rebate of tax on
tobacco, refund of direct taxes, French spoliation
claims, Dist. of Columbia, and othermisoell. expenses. $99,841,988 61
For the military establishme1:t, including rivers and
harbors,forts,arsenals and searcoal!tdefenses........ 46,895,456 30
For the naval establishment, including construction of
new vessels, machinery, armament, equipment and
improvements at navy•yards. ... . ... . .•. . . . . . . . . . . .. .. 29,174,138 98
For Indianservioe.................................... .... 11,150,577 6i
For pensions.............................................. 134,583,052 79
For interest on the public debt........................... 23,378,116 2~
For postal service........................................ 70,930,475 98
Total expenditures ................................... $415,953.806 56
FINANCIAL.
AND
FOREIG
Source.
189\.
Salee of public lands ..............•.. $4,029,535 4.1
Nashv1lle & Chattanooga. RR, Co ... .
500,000 00
Sinking Fnnd, Pa.oiflc railroads..... .
2,326,359 37
Tax on sealskins .••...•........•......
269,673 88
Soldiers' Home Permanent Fund ... .
308,648 3-1
277,04.0 79
Cuatome emolument fees . ........... .
( ustom Honse fees.... . ........... . .
555,057 76
Sale of condemned naval vessels . ..•.
78,037 36
Sales of Government property...... .
259,379 05
Sales of ordnance material. ........•.
122,668 01
1,305,255 81
Fees on letters patent ............... .
Consular tees ........................ .
782,619 45
1892.
$3,261,875 58
1,828,7714.6
46,'7'49 2~
194,385 45
191,5914.5
4.!l0,627 50
31,8541i
236,498 38
101,242 35
1,286,609 02
777,424.53
Total.. •. ..........•......••..••..•.. $458,544,233 03 $425,868,260 22
Net decrease ..•..........••...•..•.. $32,675,972 81 ..•....••.....••••
There vvas a decrease of $10,349,354 16 in the ordinary expenditures, as follows: Civil establishment, decrease, $25,492,250 76; military establishment, decrease, 4,935,539 62; naval
establishment, decrease, $766,100 86; Indian service, increase,
$2,628,108 66; pensions, increase, $10,16'/,101 39; interest on
the public debt, decrease, $14,169,019 14; total increase, $35,013,556 22; total decrease, $45,362,910 38; net decrease, $10,·
349,354 16.
Fiscal Year 1893.
For the present fiscal year the revenues are estimated as
follows:
From Customs .....................................••..... $198,000,000 00
From internal revenue .............................•.. •. 165,000,000 00
From miscellaneous sources............................. 20,000,000 00
From postal service ......•.......................... -·... 80,336,350 4.4
Total estimated revenues .••......................... $463,336,850 44
The expenditures for the same period are esti.
mated as follows:
For the oivil establishment ..........................•... $108,000,000 00
For the military establishment .......................... 49,000,000 00
For the naval establishment............................. 31,000,000 00
For the Indian Service........................... . .......
9,000,000 00
For pensions ......•................•..................••.. 158,000,000 00
For interest on the public debt............ . ..••.. .. . . . • . 26,000,000 00
For postsl service......................................... ~0,336,350 4 4
Total estimated expenditures .....••......••...•...• . $461,336,350 '4.4
Leaving an estimated surplua for the year of......
$2,000,000 00
The following is a statement of the probable condition of the
Treasury at the close of the present fiscal year, June 30, 1898:
Oash in the Treasury July 1, 1892, incl. gold reserve ... $126,692,377 03
Surplus for year, as above................................
2,000,000 00
DepoeitR during the year tor the redemption of national
bank notes..............................................
2,500,000 00
Totsl amount available ..•..•....•.......•..••..••... $131,192,377 03
LeseRedemption of national bank notes
during the year................ . . . . . $9,500,000 00
Bed.emption of bonds, Interest not, s
and fractional currency durln2 the
year.................................
700,000 00
Leaving a. surplus of.............. .• •••. . . . . . . . • •. . . . . .• •• $9,914,453 66
To this sum was added $16,232,721, deposited in the Treas10,200,000 00
ury under the act of July 14, 1890, for the redemption of national bank notes; $4,910 received for four per cent bonds issut,d
Cash balance available June 30, 1893 ........•••.••. $120,992,377 OS
for interest accrued on refunding certificates converted 4uring
Fiscal rear 1894.
the year and $14,418,383 3~ taken from the cash balance in
It is estimated that the revenues ·of the Government for the
t-he Treasury, making a total of $40,570,467 98, which was fiscal year 1894,will be on basis named below:
applied to the payment of the public debt, as follows:
From Customs ......•..... ... .......•................. . .• $210,000,000 00
Redemption ofFrom internal revenue.... .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 175,000,000 00
Bonds, fractional currency and notes for the slDking
From mlsoella.neous sources.... ............ ...... . .. ... 20,000,000 00
fund ..•................ ................................... $37,574,179 9~ From postal servioe....... .. ........ .... . .. . . . . . . • . . . . . . . 85,121,365 38
Five-twenties of 18 6 2. • • . . • • • . • • . • • • • • • • . • . • • • . • • • • • • • . • • .
J ,300 oo
Five-twenties of June, 1864.......... •. .••. •••..••.•••...
1,000 00 I
Total estimated revenues ..•...•.......•...•......... $4.90,121,365 38
eouols of 1865................ . • • . . • . . . . • . . • • . . . • • . . . • . . .
4,450 00
The estimat~s of appropriations required for
Consbl8 ,,f lb67................................. .••..••. ..
7,500 00
Consol8 of 1868.... .••...••.... •. . . . . • . . . . •. . ••. . . ••. .• •. ..
2,000 00 the same period, as submitted by the several Ex.
Ten•forties d 1864...... .••......••....•. .••.• .••. ..•..•••
2,200 00 ecutive Departments and offices, are as follows :
National bank notes....................................... 2,977,838 00
Legislative establishment........................... .. .. $3,748,414 71
Total. .....•..••.......•..... ··- .••..•....•...•. , .••... $40,570,467 98 Executive establishment.............. .. ........ . •. . . . . . 21,528,801 10
Judicial establishment... . ............................ ...
664,600 00
As compared with the fiscal year 1891 the receipts for 1892 Foreign intercourse................................ . . . . . .
1,737,079 90
Milltary establishment ............ . .....•....... •·....... 26,301,855 86
have fallen off $32,675,972 81, as follows:
Naval establishment.................................... . 2~,671,315 21
Source.
1891.
1892.
a.1l'airs.......... .. . . .. . ... ............ .. . .. .. .. . ...
8,123,211 31
Internal revenue ..................... $145,686,249 44 $153,971,072 5"; Indian
Pensions ..•...............•............................... 166,831,350 00
Postalservice....... ..•...... ...... .. 65,931,786 72
70,930,475 98 Public
Works.............................................
18,030,673
72
Proceeds District of Columbia ten•
Miscellaneous............ .•. . . . . . . •. . .•. . ... . . .. . . . . . . •. 35,507,139 93
year funding bonds................. . .•..••...•......
2,412,744 00 Postal
service
.......
,
.....................................
84,249,119
67
881.e of laud, Brooklyn Navy Yard .....•...•..........
593,860 33
r>ermanent annual appropriationsSalee of Lndian lands.................
602,545 38
847,813 23 Interest on the public debt ....••..... . •. 26,771,293 92
Smithsonian Fund................ . • . . .•......••.... . .
200,000 00 Refunding-Customs, inter. rev., &c ....
12,1s1,aoo 00
lnterest re•paid by Pa.rifle railroads.
823,904 04
962,!37 67 Collecting revenue from Customs....... 5,500,000 00
Registers' and receivers• feet>........
931,906 58
1,066,403 51 Miscellaneous
..•......••...........•.....
21,815,680 00
Revenues of District of Columl,la.. .
2,853,897 74
2,967,04:4 71
- - - - - 66,868,273 92
Custom"', floes, penalties, &o.. •.. . . • .
134,023 27
227,030 71
Sa.le of Ou-tom House, Milwaukee ...
64,000 00
Immigrant Fund........ . . • . . . . . . . . . .
292,271 00
330,128 65 Totsl estim'ed appropriat's, exclusive of sink'g fund ... $457,261,335 33
Tax on national banks....... ••••. ..
1,236,042 60
1,261.338 11 Or an estimated surplus of .••.........•............•. . ... $32,860,030 05
Deposits for surveying public lands.
131,4,22 80
14.9,966 21 To which add cash balance above gold reserve June
Jlisoella.aeous items..................
1,881,'712 18
1,962,838 93
30, 1893 . . • • • • • • •• • • • • • • • • . . • . . . • . .. . • • • . • • . • • • • • • . • • • • • 20,992,377 03
CUBtome.. •. .••...•... •. . . . . . ••. . . •. . . 219,522,205 23 177,452,964 15
Profits on coinage....... ..•• .••...•.
2,020,512 39 Making an estimated available balance of .••...••...••• $58,85'2,4.07 08
7,701,991 82
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Federal Reserve Bank of St. Louis
).AJvltJNO- .AND FJNAN(JJAL.
From v. hich deduct accrued and acoruing
obligations, estimated as follows :
In view, therefore, of these increased and increasing liabili.
ies, the reserve in the Treasury for the redemption of the Government obligations should, in my opinion, be increased to the
Redemption of paat-due bonds, frac•
tional currency and national bank
extent of at least twenty per cent of the amount of Treasury
notes............ . • • . . . . . • . . . • . . . • . . . . . $5,000,000 00
notes issued and to be issued under the act of July 14, 1890.
Probable payment on mall•subaidy
As will be seen by the estimates submitted, the receipts of
contracts, not embraced in fore•
going estimates. . ....... . ......... . ..
1,000,000 oo
the current and the next fl.seal year are not likely, if present
$6,000,000 00 conditions continue, to fall below expenditures. Yet in view of
Leaving ..•.. . •...•..••..••..•....••...•..•••.•••...•... $47,852,407 08 t!ie fact that the surplus for this year will be small, upon the
basis stated, with the probability of a falling off in receipts for
Against which there will remain on June 30, 1893, unex• causes mentioned, I think the revenues should be so increased
pended balances of continuing appropriations for heavy ord. as to enable the Treasury Department to maintain a gold re.
nance, rivers and harbors, increase of the navy and public serve of not less than $125,000,000, to main.ta.in a comfortable
buildings, amounting to $44,000,000.
working balance in the Treasury cash.
No account is made in the foregoing of the requirements of
LOANS AND CURRENCY.
the sinking fund for 1894, amounting to •48,600,000 beyond
Since March 1, 1889, there have been purchased and canceled
the redemption of pa.st•due bonds, fractional currency and na•
United States bonds of the face value of $233,729,150, for
tional bank notes, estimated at $5,000,000.
The estimated receipts are based upon conditions prevailmg which there was expended the sum of $270,952,481. Of the
prior to the late election, Public opinion having decreed a bonds so purchased $121,615,950 were four per cents and $112,•
change of policy, particularly in the tariff laws, the altered 113,200 four and one•half per cents. The expenditure was
conditions resulting therefrom render it impossible at the pres• $55,352,4£3 less than tpe sum which would be required to re•
~nt time to estimate the annual income with any ma.rke.d de• deem the bonds and pay interest thereon to the date of their
gree of accuracy, and it is impossible to predict the effect maturity.
During the same period there w~re redeemed at par $25,·
that such proposed radical changes would have upon the
504,700 four and one-half per cent bonds, and a further amount
future revenues of the Government. * * *
of $25,364,500 of the same loan has been continued durin.ic the
SINKING FUND.
pleru:Jure of the Government, to bear interest at the rate of two
*
per cent per annum. The annual interest charge March 1,
*
*
*
*
*
*
The total requirement':! of the fund to June 30, 1892 * * ag. 1S89, was $34,578,459; it is now $22,893,990.
gregate $924,394,426. The bonds and other securities annually
The increase in notes of $20 was $31,864,500, and there was a
applied to the fund, including interest paid thereon, aggregate decrease in notes of denominations of $50 and above of $10, $936,887,061, and the total redemption of the debt, including 376,325.
amounts applied to the fund since August 31, 1865, when the
The volume of money in circulation has increased during
debt atta.ined its highest point, aggregated $t ,914,905,107, or the twelve months ended November 1, 1892, as shown by the
$990,610,681 more than was required to be p11,id by the terms following table:
of the sinking fund act. It is hardly probable that more than
Money fr1, {Jircitlation.
a.bout $7,000,000 can be credited to the fund during the present
.N0'/1. 1, 1891.
No-o. 1, 1892.
fiscal year as against a legal requirement exceeding $48,000,. Gold coin . .. ... .. . . .. . . . . .... .. . ... . ... . . . $406,770,367 $411,252,197
Standard
silver
dollaL'd
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
62,135,461
61,672,455
000, and further applications to the fund during succeeding Subsidiary silver. ... ....... . . . .... ... . . ..
62,105,136
65,985,408
years must necessarily be limited to such small sums as may Gold certificates......... . . .. . .... ..... . . . 136,100,319
120,255,349
from time to time be paid for pa.st-due bonds, fraction~! cur• tilver ceitiflcates. ... .. .. . . . .. . ...... .... 321,142,642
324,552.532
Treasury notes, 1890 .. ...• ... . .. . . ... ...
66,473,484
114,567,423
rency and national bank notes redeemed under the act of July United
States notes .• .... -. .... ... . . . .... 332,553,989
14, 1S90.
The act of March 3, 1881 (21 Stat. 457), provid6s that the
Secretary of the Treasury may at any time apply the surplus
money in the Treasury not otherwise appropriated to the pur•
chase or redemption of United States bonds. In view of this
provision and of the very large decrease of the debt already
effected in excess of the legal requirements of the act, coupleri
with the probable future condition or the national finances, I
would stron~ly urge its repeal.
Sound pohcy would seem to dictate this course. The condi.
tions which called for its enactment have long since passed
away, and no valid reason for its continuance any longer ex•
ists. I therefore recommend its unconditional repeal. * * *
The total debt of the United States, less oash in the
Treasury, at its maximum point, Aug. 31, 1865,,
was ..............•...•...•...•...•..• •................. $2,'756,431,571
On June 30, 1892, it was........................ . ......
43
841,526,463 60
Currtinoy certifl.oattls, June 8, 1872 . . . .
National bank notes .. .... . . .......... . ..
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
332,080,234
10,550,000
165,224,137
$1,564,492,ltn $1,606,139,735
PRECIOUS MlilT.Z.S.
The value of the gold deposited at the mints and assay offi.
ces during the fiscal year 1892 was lM6,476,975, of which $61,·
131,460 were original deposits and $fi.345,515 were re.deposits.
Of the original deposits $31,961,546 were the product of our
own mines; $24,975,342 foreign gold coin and bullion; •557,967
light-weight domestic gold coin and $3,636,603 old material.
The deposits and purchases of silver aggregated 72.121,268·03
standa.rd ounces, of the coining value of f83,922,930, including640,461-19 standard ounce~, of the coining value of $745,263
re•deposits. * * *
The net loss of gold by exports during the fiscal year was
only $142,654, against a loss in the preceding fiscal year of
$67,946,768. The net exports of silv~r were $5,035,828, against
a net import in the previous year of $2,745,365, a difference of
Making a reduction of the debt, less oash in the
Treasury. of .........••...•...•.......•.......•....... $1,914,905,107 83
Or, $9110,610,68149 more than the requirements of 1he sinking fund $7,781,193.
oalledfor.
One of the embarrassments to the Treasury, in the opinion
of the Secretary, is the inability, with the limited amount of
cash on hand above the one hundred million reserve, to keep
up a sufficient gold supply. When the demand comes for the
exportation of gold the Treasury is called upon to furnish it.
lf this demand should prove to be as large the coming year a,<1
it has been for the past two years, gold in the Treasury would
bfl diminished to or below the reserve line.
The status of this reserve and its amount have recently been
subjects of discussion. In the bank act of 1882 Congrees gave
expression to its belief that !1!100,000,000 in gold was a suitabl~
reserve by providing that whenever the amount of gold in the
Treasury should fall balow that sum the issue of gold certifi..
cates should cr ase. In 1886 the then Secretary of the Treasury
adopted the practice of reporting $100,000,000 of the g-old in
the Treasury as a "reserve for the redemption of United
States notes,'' and recently the majority of the Judiciary
Committee of the present House of Representatives expressed
the opinion that under existing law the maintenance of this re.
lktve is oblif:,atory,
· But if $106,000,000 in gold was a suitable or necessary reserve
in 1882 and in 1885, it would seem clear that a greater reserve
is necessary now. It should be remembered that since 1882 we
have added to our silvet circulation the sum of $259,016,182 in
standard silver dollars, coined under the old silver act of 1878.
These dollars are nearly all outstanding and largely represented by silver certificates. We have also increased the legal
tender pa.per circulation by issuing about $120,000,000 of the
Trea.sury notes authorized by the act of July 14, 1890, and to
this we are adding about four millions each month in payment
of silver bullion purchased.
It is true that silver certificates are not redeemable in gold
and that the Treasury notes of 1890 are redeemable in co in ;
but since it has been declared to be the established policy of
the United States to maintain the two metals, silver and gold,
on a parity with each other, it is obvious that this large addi.
tion to our circulation has increMed the possible charge upon
our gold reserve.
10,76-'>,000
166,4-15,763
* * *
The mines of the United States produced during the c&lendar year 1891 precious metals as follows:
Pine
Ounces
Ooinniercial
Gold ..••.. •...••. • _..• .... 1,604,84.0
Silver .•••.•••.•••.••. . .... 58,330,000
Value.
$lJ3,175,000
57,630,040
Ooining
Value.
$33,1.75,000
75,416,565
The product of the mines and reduction works of the United
States, includin~ precious metals contained in foreign material
reduced in the United States, was: Gold, 2,169,863 fine ounces;
silver, 69,336,415 fine ounces.
The product or gold and silver in the world, based up0n re.
turns to the Director of the Mint,, was the same year:
Gold... . ..... . . . ... . ..
Pine
Ounces.
6,102,893
tmver ..•.......•...•..143,994,000
Commercial
Value.
$126,159,000
142,266,000
Ooining
Value.
$126,159,000
186,174,000
The coinage of gold and silver by the various countries of
the world aggregate for the calendar year 1891, so far as
reports have been received: Gold, $119,183,735; silver,
$135.008, 142.
The stock of gold and silver in the United Stat.es, based upon
official tabulations brought forward from year to vear, was on
November 1, 1892, approximately: Gold, $656,041,863; silver,
$587,614,951. Total, $1,243,656,814.
According to the information gathered by the Bureau of the
Mint the value of the gold and silver used in the industrial arts
in the United States during the past calendar year was, ap.
proximately: Gold, $19,700,000, and silver, ~9,630,000, of
which $10,697,679 gold and $7,289,073 silver were new bullion.
MONETARY
CONFERENCE,
As early as the month of April, 1891, investigation was begun
by this Department to ascertain the state of public sentiment in
Europe regarding the propriety of an agreement to hold a
monetary conferen'!e of representatives of the leading nations
on the subject of the money uses of silver.
Upon the ascertainment that the leading nations were favor.
ably disposed to the holding of such a conference, the Unitt.d
States addressed an invitation through the State Department
to the governments of Europe, of Mexico and Turkey. All of
10
BANKING .AND FIN~NOI.AL.
the countries to which this invitation was addresAed accepted.
By conference with them, after considerable delay, occasioned
by a. va.rietv of causes, Brussels, Belgium. was a.greed upon as
the place and November 22, 189 2, as the· time for the Conference
to assemble.
For this co·mtry five commissioners were appointed, as follow: Hon. John P. Jones of Nevadit, Hon. Wen B. Allison of
Iowa, Hon. Ja'lles B. McCreary of Kentucky, Mr. H•nry W.
Cannon of New York and E. Benjamin Andrews of Rhode Is111.nd. B_y usage the American minister, Mr. Terrill, was added.
This Conference iR now in session J as yet Jittle is known as to
~hat its action may be beyond the genera.I fact that the subJect of the better use of silver as a m<mey metal is receiving its
earnest attention.
Whatever may be the outcome of the Conference, it is safer
to predict that a clearer idea will be had of the views and pur•
poses of the countries represented.
*
*
*
*
*
~
CHARLES FOSTER, Secretary of the Treasury.
REPORr OF THE COMPFROLLER OF THE
CURRENCY.
0.E'Jl'ICE
DEPARTMENT OP THE TREASURY,
}
OP THE COMPTROLLER OF THE CURRENCY,
WASHINGTON, D. c., December 5, 1892.
The following extracts are made from the report of
Hon. A. B. Hepburn, Comptroller of the Currency:
The year covered by this report ended Oct. 31, 1892.
*
*
*
-lr
*
*
*
CURRENCY.
1.'he business of banking is exchanging a generally known
value or credit for a local value or credit. This definition applies equally to the money changers of the Temple and to the
banks of to•day. In the wonderful development of commerce
and manufactures which has followed increased facilities for
communication and transportation, banking, though hand in
hand with trade, is ever in the lead ; for credit, or money, is
the motor which moves the wheels of progress, and all finan·
cial transactions, whether local, national, or international, have
become mainly a matter of book-keeping. Throughout the
United States every locality has its bank, and most people,
however limited their business transactions, have bank ac•
counts, through which they pay their indebtedness. Bank
accounts are genera.Uy used as the most convenient and most
accurate method of keeping a, cash account. This practice does
not obtain in European countries in any such proportion.
In this country, in the village having a single bank the arti•
wan pays the merchant by check, or viM verr,a, and the payment is usually consummated by a transfer of credit upon the
books of the bank. Thus does the single bank become a clearing house for the community, and the actual transfer of money
is minimized.
'Ihe day'd exchanges in our larger cities are adjusted through
a clearing house, where each b11.nk is eredited with the total
dema.nda it holds against all other bank"!, in the same place,
and is debited with the total dem:tnds which the other banks
hold against it, and either pays or receives the balance, sim.
ply, in money. The aggregate clearing-house transactions for
the year ended October 31, 1892, in 57 clearing.house cities,
were $61,017,839,067, the balagces were (partly estimated)
$4,881,777,289. Thus, by a simple device of book.keeping, this
immenRe volume of business was done by means of 8 per cent of
actual money.
Our international banking and commercial transactions are
settled upon a system of balances through a few leading banks
and banking houses that deal in foreign exchange. When the
exchange market affords no bill of exchange to be remitted,
gold is s~ipped to settle the balance of trade existing against
such nation, and when so shipped, whether bars or coin, it
goes simply as commodity, at its muket value, precisely like
merchandise.
Thus it appears that the bulk of the world's business transactions is done upon:credit, witness~d by book-keeping, and
the percentage represented by actual money transfer is very
&maU,-in the United States less than 8 per cent.
A man goes to his bank with his note, a local credit, and
procures its discount, receiving the proceeds in a generally
known credit or value, namely, a bank draft, or certificate of
deposit, or money-something available for the contemplated
bu~iness. The built of all business transactions is adJusted
by the contracting parties, whether banking or otherwise, It
iil the portion in which money passes that appeals to the
~overnment for regula.tion. It is the recognized Constitu•
t1onal duty of government to furnish for its citizens a circulating medium adequ 'lte to their needs and convenient for
their use. Gold and silver are the recognized money of the
world, bec:rus~ they possess value in themselves, ar~ conveniently coined, not easily counterfeited, exist in quantity
sufficient to supply the demand, and are not so redundant as
to unduly impair their value. Such money is adequate to the
public want, but not convenient for public use, except in small
change transactions. Paper money is a business necessity.
Paper money possesses n:> value, simply represents value.
A currency, to serve the demands of business, must be sound
-no doubt of its redemption. It should be elastic, that it may
expand and contract as the tide of business ebbs and flows. if
supplied by the Uovernment,the:expense is borne by the tax-pay.era. If supplied by banks,it must possess an element of profit.
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Federal Reserve Bank of St. Louis
It will readily issue so long as there is a profit. It may be
made to contra.ct by fixing a standard of issue and taxing the
excess, so that the excessive issue would be retired with the
cessa.tion of ·the necessity which called it into existence,
The amount of paper money in circulation Oct. 31, 1892, was :
Natiotial-b11n.k notes....................................... $172.432,146
United States notes (greenbacks)......................... 332,080,234
Treasury notes ··-········•··· .. ····-············ .. ·•••·••• 114,567,42 -i
Gold certlti•~ate&. .. . ••. . . . . . •.. ......... ••. . .••.•••.••• .••• 120,2:Sl'>,349
Silver eertt:flcates.... •• . ••. . • • . . .• . . . . . . ••• • .. •. .... •• . •• • . 32 t,552,532
Currency certUlcates ................ -...•. ··-····.........
10,550,000
Total ..••.....•.......•...•..•••••.••..••...•. ·--· . ••. $1,074,437,684
Per cent of national-bank notes, 16•04.
The Government cannot issue money gratuitously. It can
only put it in circulation in exchange for some value or obliga,.
tion. It can not pay its bonds in anything other than coin of
standard value,
By the terms of t,he act of Februal'y 28, 1878 the Secretary
of the Treasury was directed to purchase and coin into silver
dollars silver bullion not less in value than $2,000,000 worth
and not more than $4,000,000 worth monthly. This act was
supplanted by the act of July 14, 1890. While in force the
Government purchased silver and coined 378,166.793 standard
dollars, the seigniorage on which (that is, the difference between the price paid for the silver and the face value of the
coinage) was $69,967.531.
Total coinage of silver ~ollars under act o~ Feb. 28, 1878.$378, 166,793
Tl)tal cost of silver bullion used in such coma~e.. •• ....... 308, 199,262
Sehm.iorage or avparent profit.............................. 69,967,531
Bullion value of such silver October 31, 1892 ............ 250,493,936
Dif'oe between actual cost and market value Oct. 31, 1892 57,705,326
This coinage accumulated in the Treasury vaults until the
happy device was conceived of putting it in circulation by the
use of paper substitute. A~ shown above, 324,552,532 are
serving the people by proxy.
Under the act of July 14, 1890, the Government purchases
monthly 4,500,000 ounces of silver, and pays for the same in
Treasury notes issued for that purpose and equa.l a'i par to the
cost of such silver. Thus the currency of the country is
arbitrarily increased monthly. Up to November 1, 1892, the
total issue of such notes has been $116,611,233 The present
market value of the silver purchased is $102,648,944, showing a
depreciation in valua of $14,134,646. This act was a compromise measure, designed to prevent the unlimited coinage of a
dollar of full debt-paying power cOJ1taining less than a dollar's
worth of silver. From its nature (arbi"rarily adding a lar~e
amount to the currency monthly) it is evident that it was 10tended to be temporary. The severest commentary upon our
silver coinage is the fact that it offers an inducement to the
counterfeiter to coin a dollar exactly reproducing the genuine
in quality and intrinsic worth, aR well as form and design, the
pro tit to the counterfeiter being represented by the difference
between the market value of the silver contained in the coin
and its face value, which was October 31, 1892, 33,½ cents.
In view of the above statistics, the silver currency furnished
by the Government will hardly commend itself to the public
on the score of economy. It is in sharp contrast with the
national bank currency, which has paid mto the Treasury in
taxes $72,670,412 30.
What the settled policy of Congress as to the future currency
may be remains to be seen. If furnished by the Government,
it will possess the quality of soundness, for nothing can be
better than the Government under which we live; but it cannot possess elasticity. Elasticity means conformity to business wants, the supply quickly responding to the demand, and
not conformity to fixed rules and Rtatutory law~. The Government in the very nature of things cannot supply such currency
as the public requires. The national banks can, and with
proper legislation would, supply this want fully and completely.
Large appreciation of the price of United States bonds, the
basis for circulation, large depredation of the rates of interest,
a.nd onerou3 taxation, have made circulation unprofitable, and
the volume has fallen from $362,i89,134, September 30, 1882
-the highest amount in circulation at any one time-to
$172,426,610 at the close of the last fiscal year. The volume
would have been much more contracted but for the fact that
all national banks, whether they take out circulation or not.
are ob'iged to own and assign to the Treasurer of the United
States in trust interest-bearing bonds of the United States,
and in ca<Je their capital is $150,000 or less, to the amount at
par of one-fourth their capi$al stock. If the capital ·exceeds
$150,000, they are required to have on deposit in th'3 Treasury
not less than $50,000 in bonds. Being obliged to own these
bonds, to measureably lessen the cost of carrying such highpriced securities they take out circulation.
The following carefully-prepared tables show the profits
upon circulation bas9d upon a deposit of $100,000 bonds.
June 30 was selected, as it marks the close of an interest
period for Government b::mds. [We omit the details.-EDITOR]
RECAPITULATION.
Profit on the three classes of bonds, maximum circulation 90 per cent2 per cent bonds, *$21,837.000-$19,653,300, maximum circulation
at 0·03152 per cent, $6.194 72.
.
4 per eent bonds, *$129,759.000-$116,783,100, ma."dmum circulation at 0·33016 per cent, $333,571 08.
6 per oent bonds, *$ll,600,000-$10,'40,000, maximum circulation
at 1·2185q ptor cent, $127.219 75. ·
Total of bonds, $163,196,000-$146,876,400, maximum circulation
at 0·353 per cent, $1>18,985 55.
It will be noted that by taking out circulation the banks
realize in each case more than 6 per cent on the monev
invested in bonds. The money invested in· the purchase of
bonds as a basis of circulation yields in the ease of 2 per cent
.20
BANKJNG
AND FIN.ANOJ..dL .
bonds 6·032; in case of 4 per cent bonds, 6·33; in case of 6
per cent bonds, 7·218.
Since the 5 per cent redemption fund counts as pa.rt of a
bank's reserve as well in hands of the Treasury as in vaults of
the banks, it would have been proper not to make the deduntion above. This would add materially to the profit of circuJation. The $43 average cost of examinations of banks with
$100,000 capital is not wholly an incid~i;it of circulation.
In th~ above t,ables money is assumed to be worth 6 per
cent. If the prevailing rate was less than 6 per cent a bank
could better afford to take out circulation; if the prevailing rate
was more than 6 per cent a bank could less afford to take out
circulation. By allowing circulation to the par of bonds and
removin~ the tax on circulation it would be possible for banks
located m sections where rates of interest are high to take out
circulation without loss.
Since the organization of the national banks $1,521,437,753
have been issued and redeemed without Joss to any bill•holder.
There can be no loss upon national-bank circulation. All the
i:oJicitude as to what shall serve as a basis for circulation when
Government bond-1 cease to exist is premature. The 4½ per
cent bonds (act July 14, 1870) matured September 1, 1891;
$25,364,500 were continued at the pleasure of the Government
at 2 per cent interest; interest upon the balance ceased; $24,520,900 have been redeemed and $983,800 remain outfltanding ;
$3,617,700 have been redeemed since October 31, 1891. No
bonds have been purchased by t.he Government during the
past year, the interest-bearing debt bas not been reduced, and
with the diminished revenues, under the act of October 1, 1890,
and swelling volume of annual expenditure, there is likely to
be no reduction in the immediate future. The trend of public
opinion is decidedly in favor of limiting our revenues to the
current needs of the Government. The currency sixes that
be_gin to mature in 1896 are primarily obligations of the subsidized Pacific railroads. Tbe railroads will hardly be prepared to pay these bonds at maturity, and they will likely be
continued like the 4½ per cent bonds, at the option of the
Government, at a low rate of interest.
.
By relieving national-bank circulation, as above suggested,
these bonds could be extended at a very low rate of interesttoo ]ow for investment purposes, yet available as a basis of
circulation. Of the $25,364,500 of 2 per cent bonds outstanding October 1, $22,050,350 were held by national banks to
8ecure circulation. The 4 per cent bonds do not mature until
July 1, 1907, Since December 6, 1890, the Government has
been out of the market as a purchaser of its own bonds, and
the price then paid for 4 per cent bonds ($123·356) has fallen
to $114 ·625. The lower the price of the bonds the more available
they become as a basis of profitable circulation. If happily
the time arrives when t.he United States Government has no
bonded debt, or not sufficient to be available as a basis for circulation, there will of necessity be other choice securities
available for such purpose.
In my judgment the Government should issue 2 per cent
bonds, running twenty, thirty and forty years, and with th e
proceeds purchase the 4 per cent bonds outstanding. This
would result in a saving of interest to the Government, distribute the maturity of the bonds over a proper period and
furnish the best conceivable ba-qis for circulation. The Government could hardly- have floated a 2 per cent bond but for
the needs of the national banks, and with liberal yet conservative laws a.s to circulation it is possible that a bond bearing a
slightly lower rate than 2 per cent could be placed at par.
A United States 4 per cent bond of 1907, in order to yield
interest at the rate of 2 per cent per annum for the remaining
period it has to run. must have been purchased October 1, 1892.
for $125·492. In other words, the Government could have exchanged a 2 per cent bond, at par, maturing July 1, 1907, for
the 4 per cent bond of 1907, at $125"492, without loss or gain.
The exchange would have been equal. The 4 per cent bonds
on October 1, 1892, were worth 114¾, The extended 2 per
cent bonds, payable at the pleasure of the Government, were
worth, or. the sa.me date, 101. Gould the Government have
exchanged a 2 per cent bond maturing July 1, 1907, for the
outstanding issue of 4 per cent bonds upon the basis of the
quotations just given, ir. would have resulted in saving to the
Government (that is, the tax-payers) the enormous sum of
$67,161,55147, as appears from the following computation:
Par value of outstanding 4s Oot. 1, 1892 ............... $559,586, 750 00
l\farket value of 4s at 11411s and of 2s at 101, Oct. 1,
1892.. ·-·. ·-·. ·-· ·--· ·-···----·-·. --·. ····-·· ..•...•...•. 641,426,312 18
Par vdlue of 2s exohanged at 101 for 4s at 114 11s, Oot.
1, 1992......... ·--·-···---··-······· ... ··-· .••....•. ·--- 635,075,556 62
Quart.erly interest paid on 4s ...•.. . .. . .... ..•...•...•.•• $~.~95,867 50
Quart,erly mterest that would be paid on 2s ........... .
3,175.377 78
Quart.erly saving of interest . ..•.......•........ .. ... $2,420,489 72
Present value, as of Oct. 1, 1892 of these savings of
int.erest to maturity, money at 2 per cent,re•invested
quarterly .••••......•..••..••...•..••.................. . . $123,406,683 57
Present value, as of Oct. 1, 1892, of $75,-188,806 62
principal of 2s in excess of prtncipal of 4s, money at
2 per oent, re-invest.ad quarterly...................... 56,245,132 10
Present value ot net saving to the Government in
accordance with the above stat.ement .••..•....•. . $67,161,551 47
While the principal of the indebtedness would be increased,
the interest reduction would be so great for the remaining
fifty-nine interest quarter periods, from October 1, 1892, to
July 1, 1907, as to show a net saving of $67,161,551 47.
A 4 per cent bond at 114% on October 1, 1893, would pay an
investor interest at the rate of 2·793 per cent.
It is probable, from the above statistics, that investors would
not exchange 4 per cent bonds for 2 per cents, but the fac t
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Federal Reserve Bank of St. Louis
that banks own, for the purpose of securing circulation, nearly
87 per cent of the continued 2 per cent bonds in preference to
the 4 per cents, shows that they prefer a bond at par, with a
lower ra,te of interest, as a basis for circulation. A fixed period
to run and a long period would add to the value of the bond.
With so great a saving possible, the interests of economy,
as well as an public and private interests that depend for
prosperity upon a sound and elastic currency, emphagize the
wisdom of settling this question of a proper basis for national
bank circulation by the issue of bonds having a long time to
run, at a low rate of interest, with which to rcltire the outstanding issue of 4 per cent bonds.
The national banks for a long series of years have demonstrated their ability to furnish the country with currency
ample in amount, elastic in volume, sound beyond -peradventure, and every dollar of which, every moment of its existence, was worth par throughout.the length and breadth of the
land. A change from such a currency to another less secure
is certainly an unwise experiment. It is proposed to restore
State bank circulation by removing the 10 per cent tax imposed March 3, 1865. There is no fairer test of men or methods
than the rt cord they make for themselves, Every item of
assets and liabilities, as shown by the trial balance of their
general ledgers, of every national bank, for the whole period
of their existence, has five times each year been published in
the Jocalitv, reported to the Comptroller of the Currency,
and become a matter of record. Additional tables resolve all compot--ite items into detail. Additional statistical
tables complete the hit tory and workingd of such banks.
Special reports show the course of trade and exchange. In
case of failure, eqnally explicit information is obtained from
receivers' reports, total claims, total assets, percentage paid,
percentage of loss, items of expense, including receivers' fees,
and attorneys' fees.
All this information is annually reported to Uongress and
spread before the country. The course of trade, the material
condition, the prosperity or depreRSion of the country, are
tra.thfully reflected in the condition of its banks. And the
publication of the above conditions, in the reports of these
banks, has been of inestimabla value to publicists and economists. This is the record of national banks under Federal authority and under Federal supervision. To compare the present
national banking system with the old State banking s,rstem is
to compare order with confusion-perfect system, under cent.ral control, with.imperfect system, under diversified control.
The banking systems of the different States during the period
that they were banks of issue differed essentially. Some had
excelJent banking laws; others had very crude laws. Some
h$l.d effective supervision and some had none, or worse than
none. In no State was the aggregate or percentage of loss to
note.holders of State banks reported nor the losses to creditors
or stockholders. The most careful research reveals only general statements, or estimates of loss, in the current financial
literature of the time.
*
*
*
*
*
The following table gives the number of nation ll banks
organized during the year ended October 31, 189 J, in each
State and Territory, with their aggregate capital.
N'A.TIONAL BA NKS ORGANIZED IN 1892.
States and Terri.tortes. No. of Capit:,1,l.
banks.
Texas ....... . . .. . . ... .
Iowa . .... .... ... . .. .. . .
Indiana ...... . ...... . .
Ohio ....... . ... .. .. .... .
Pennsylvania .. . . . ... .
Illinois. . . ........... .. .
Minnesota .......... ..
Washington . . .... . . ..
Massachusetts .. . .. .. .
Wisconsin ... . . . . ..... .
West Virginia .... . .. .
Colorado ......... ... ..
Idaho ... .. ........ .. .. .
New Hampshire . .. .. .
New Jersey .. . .. . .... .
Kansas ......... .... . ..
Montana .. ...•.. ... .
Tennessee. .... ...... . .
Mai ne . . .. . .. .. . .. .. .. .
India n Territory . ... .
~~
l:.l
ll
10
Y
9
~
5
5
4
4
s
a
a
8
a
3
a
Stat e$ and, Territories. No. of Capital.
ba nks.
$1,~:888
g:i':tJr~~::.-:::::::::::
J,ll0,000 New Mexico.. . . . ....
:2 'fgg:&88
100,000
Oklahoma............
Wyoming........ . ... ..
Missouri. . ....... . .....
Virginia. . . . . . . . . • . . .
2,000,000
700,000
2,500,000
710,000
2
2
Alabama.. . . . . .. .... .
Florida. . . • . .. . . . . . . . . .
Kentucky.. .. . ....... .
Maryland . . . . . . . . . . . . .
Michigan. . .. . .... ....
Nebraska..... . .. . .....
North Dair.Ota . ..... . .
350,000
260,000
200,000
250,000
250,000
2W,OOO
200,000
160,000
150,000
150,000
200,000
½
l~:888
100,000
l
ii&:~ i~~rtiaro·1in:a:::::::
500,000 Arizona., . .... . . . . . . . . .
~00,000
I
I
1
1
1
1
1
J
Utah .... . ... . . .. ..... . . - -
Total... . .... .......
100,000
100,000
1
100,000
100,000
100,000
50,000
50,000
50,000
50,000
----
163 15.285,000
In point of numerical accessions to the system. Te.ia:; leads
with twenty-two banks; Iowa, Indiana, Ohio and Pennsylvania
following in the order named. Illinois, however, provided the
largest amount of capital. It has been noticeable for several
years that the large proportion of increase in the number of
national banks is assignable to those States and Territories located West of the Mississippi Riverand in the Southern
States. Of the one hundred and sixty-three banks organized
during the past year, eig-hty-two are located in States and
Territories West of the Mississippi and thirty-six are loca,ted
in the Southern States. Pennsylvania still ha-q the greatest
number of national banks in operation, Massachusetts the
greatest aggregate capital and New York the largest amount
of deposits. As prosperity and population increase in the
western portion of the country, extending from north to south,
so the privileges of the national banking system a.re availed of
in contrast with private banks and other financial corpor~tion~
organized under State laws. During the past year the sev_enteen failures were widely distributed, ther., having been thr~.e
in Kansas, in New Mexico and Texas two each, and ju other
States only one.
·
*
*
A. B. HEPBURN,
Comptroller of the Oun·ency,
21
.BANKING AND FlN.ANOIA.L.
COINAGE OF SILVER DOLLARS.
REPORT OF THE DIREOTOR OF THE MINT. The total coinage of silver dollars from March 1, 1878, to
November 1, 1892, is shown in the following table.
The report of Mr. Edward 0. Leech, Director of A.ct.
Ooinag.e
Februar y 28, 1878 .. . .. .. . ... ... . . .•.•..•••.... . . . .. .. . .. . .. . $378,166,739
the Mint, contained the following statistics for the fis- July
14, 1890. ... .. . •. . . . . . . . . . . . . . . . . . . . . . .. .. . . . . . . . . . . . .• . 33,167,570
cal year ending June 30, 1892.
5,078,472
March 3 , 1891 (trade-dollar bullion).... ... . . ...............
DEPOSITS AND PURCHASES OF GOLD AND SILVE R.
Gold.-The gold de_posits at the mints and assay offices of
the United States durmg the fiscal year ended June 30, 1892,
including gold contained in silver deposits and purchases,
11ggregated 3,573,137·461 standard ounces, of the value of
· $66,476,975 98, against $59,625,678 08 in the preceding fiscal
Jear, an increase of $6,851,297 90.
Of the gold bullion received at Government institutions
during the fiscal year, $31,961,546 11 was the product of our
own mines, against $81,555,116 85 of the same class of bullion
deposited in t,h e preceding fiscal year, an increase of $406,429 26.
Foreign gold bullion of the value of $10,935,154 69 and foreign gold coin of the value of $14,040,187 70, a total amount of
foreign gold of $24,975,342 39, were deposited and melted at
the mints and assay offices during the last fiscal year.
Silver.-The deposits and the purchases of silver, including
silver contained in gold deposits, aggregated during the last
fiscal year 72,121,268 08 standard ounces, of the coining value
($116 4-11 per standard ounce or $1 2929 per fine ounce) of
$83,922,930 01, against $83,630,154 31 in the preceding year, an
increase of $292, 77r, 70.
Of the eilver received, 59,513,166 79 standard ounces, of the
coining value of $69,251,684 98, consisted of fine bars bearing
the stamp of private refinerie3 in the United States. All such
bars are classified at Government institutions as of domestic
production. As a matter of fact, such bars contain foreign as
well as domestic silver, since nearly all the silver imported
into the United States in the form of base bars or contained in
miscellaneous ores is reduced at private works in conjunction
with domastic ores and no distinction is made in the resulting
product. Of the domestic silver bullion deposited at the
mints during the year, 3,617,442 07 standard ounces, of the
coining value of $4,209,387 10, were unrefined silver from the
mines of the United States.
Foreign sijver bullion, distinctively known as such, con•
taining 1,729,575 36 stantlard ounce~, of the coining- value of
$2,012,596 78, and foreign silver coin, containing 388;502 53
~ta.ndard ounces, of the coining value of $452,075 67, a total
a mount of foreign silver of the coining value of $2,464,672 45,
was received at the mints and melted during the year.
COINAGE.
The coinage executed at the four coinage mints of the
United States, located at Philadelphia, San Francisco, Carson
City and New Orleans, aggregated during the last fiscal year
113,5G6,124 pieces, of the nominal value of $51,792,976 52. Tbe
gold coinage consisted of 2,954,185 pieces, of the value of
$35,506,987 50, of which $21,725,600 were in double eagles,
$8,921,530 in eagles, $4,840,955 in ha.If eagles, and $18,902 50 in
qu1rt0r eagles.
The silver coinage consisted of 8,329,467 silver dollars and
$971,016 50 in ha1f dollars, $3,023,831 in quarter dollars and
$2,669,464 10 in dimes.
The minor coinage executed at the mint at Philadelphia
aggregated 61,582,474 pieces, of the nominal value of $1,296,·
710 42, of which 17,022,142 pieces, of the nominal value of
$851,107 10, consisted of nickel five-cent pieces, and 44,560,332
pieces, of the nominal value of $445,603 32, of one•cent bronze
pieces.
The coinage of the mints during the last fiscal year is re•
capitulated in the following table :
COINAGE, FISCAL YEAR
Desct•ip ti on.
Total.. ...... . .......................... . . . . . ... . .... . ..... $416,412,835
COURSE OF SILVER.
The highest price of silver duri~g the fiscal year was $1 ·0165
per fine ounce, at which rate the value of the silver contained
m the silver dollar was $0·786; at the lowest price ($0·855),
per ounce fine, it was $0·66: at the average ($0·937), $0·724.
The value of the silver contained in a silver dollar at the
lowest price of silver since the close of the fiscal year was
$0·642. At the present writing, November 1, the value is
$0·665.
SUBSIDIARY SILVER COINAGE.
The coinage of suosidiary silver during the last fiscal year
ag~regated 40,889,998 pieces, of the nominal value of $6,659,811 60, consisting of $971,016 50 in half dollars, $3,028,331 in
quarter dollars and $2,665,464 10 in dimes. Of this coinage
$1,058 25 were manufactured from purchased bullion and
$6,658,758 86 from worn and uncurrent silver coin transferred
from the Treasury for re-coinage.
STOCK NOV. 1, 1892.
Adding the gold and silver bullion in the mints and the
value of the silver bullion in the vaults of the Mercantile Safe
Deposit Company to the stock of coin in the United States,
the total metallic stock on November 1, 1892, was approximately as follows:
METALLIC STOC K NOVEMBER
1 , 1892.
Amount.
Goin and bullion .
Gold.... . ............... . .... . .... . ...... ..... . . . . . . . . . . . . . . $656,041,863
Silver (bullion in mints and Mercantile Sate Deposit Co. l. 587,614,,951
Total. ... . . ....•......... . . . .. ..... ....... ..... ...•.. . . . $1,243,656,814
GOLD AND SILVER USED IN THE INDUSTRIAL ARTS.
As in previous years, inquiries have been made for the purpose of ascertaining a:pproximately the amount of gold and
silver used in the Umted States in the industrial arts and
manufactures. These inquiries have been confined to ascertaining from Government institutions and from private refineries the amount and value of the bars of gold and silver
sold to jewelers and manufacturers for industrial uses during
the last calendar year, and as nearly as possible the materi:!l
•
used in the manufacture of such bars.
GOLD AND SILVER BARS FURNISHED FOR USE IN MANUFACTURES AND
THE ARTS DURING THE CALE NDAR YEAR 1891.
Gold.
.Maten,al.
---- -·---
Total.. .. . . . .. .. . . . . ... . . .. . . $16,644,953 $9,631, i 46 $26,276,699
The value of the gold bars reported as furnished for industrial use during the calendar year 1891 was $16,644,953,
against $14,605,901 in 1890, an increase of $2,039,052; and of
silver, $9,631,746 in 1891, against $9,031,178 in 1890, an increase cif $600,568.
PRODU -.,'T OF GOLD AND SILVER.
The statistics of the prGduction of the precious metals are
collected only for calendar years.
The product of gold and silver from the mines of the Unitefi
States, exclusive of foreign bullion and ores reduced in this
country, was for the calendar year 1891 as follows:
PRODUCT OF llUNES OF THE UNIT ED STATES I N
1892.
Pieces.
Value.
Total.
Si lver.
Domestic bullion .. . . .. . . . ...... . $10,697,679 $7,289,073 $17,986,702
686,483
228,446
458,037
United States coin .. .. . .. ..... . ..
1,884,626
628,525 1,256,101
Foreign bullion and coin ..... . ..
5,718,838
858,126
Old material............. ... ... . . 4 ,860,712
Fine
Ounces.
X ctats.
Commerci al
Value.
1891.
Coining
Value.
Gold...... .... .. ... . . ....... . .... . ..... 2,954,185
Sliver dollars................... .. .... 8.329,467
Subsidiarr silver coins. ........ . .. .. . 40,fi~9,998
Minor COlDS ••••• •• ••• •••• •• •• • • •• •• •• • 61,582,474
$35,506,987 50
8,329,467 00
6,659,811 60
1,296,710 42
Gold ...... . ... . ...... . . . ;. . . . . 1,604,8 40
Silver .. .. ..... .... . . .,. •• . ... .. 58,330,000
Total. ..... .... ! . . .•.•.. ... .. . .... 113,556,12i
$51,792,976 52
The following table exhibits the product of the precious
metals in the world for each calendar year since 1872.
GOLD AND SILVER BARS MANUFAC r U RED.
---
Total.. .. . .. . . . .... . . ..... . .. .• •. ...
$33,175,000
75,416,565
- -- - - i90,805,040 $108,591,565
$33,175,000
57,630,040
PRODU CTION OF GOLD AND SILVE R IN' TH E WORLD F OR THE CALE NDAR
In additio_n to the coinage of the miots, gold and silver bars
Y EARS 1873-1891.
.
were manufactured during the fiscal year of the value of
,,..... - - - - - Si l vet·.
Ooin·i ng
F i ne ou n ces Oommerc i al
$43,255,822 51, as follows: Gold, $36,125,552 39; silver, $7,130,value.
value.
(Troy.)
Gold .
Calen dar y ears.
270 12;_total, $43,255,822 51.
1873 . . . •••. .. ..• .. $96,200,000 63,267,000 $82,120,000 $81,800,000
PURCHASES OF SILVER.
The purchases of silver by the Government during the fiscal
year ended June 30, 1892, were all made under the mandatory
provisions of the act of July 14, 1890, requiring the purchase
of 4,500,000 ounces in each month. The amount purchased
by the Treasury Department on telegraphic offers in lots of
over 10,000 ounces was 49,112,327·39 fine ounces, costing $46,254,520 78. The purchases of silver at the coinage mints in
lots of less than 10,000 ounces 3:ggregated 4,942,414·04 fine
ounces, costing $4,662,208 89. Silver contained in gold deposits and in bar charges, including fractional remnants of
trade-dollar buUion of less value than one dollar, was pur•
chased, aggregating 200,995·71 fine ounces, costing $189. ·
883 86. The total amount purchased during the last fiscal
year under the provisions of the act of July 14, 1890, as above
enumerated, aggregated 54,355, 748·10 fine ounces, at a cost of
$51,106,608 01, The average cost of the sih-er purchased during the year was $0·94 per fine ou,nce.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1874 ..••••..•... . . 90,750,000
1875 .•••••. .• . .. .. 97,500,000
1876 ..••.••.. . .. .. 103,700,000
1877 .. . •.. .. .. .••. 114,000,000
1878 . . •. . . .. .. . .•• 119,000,000
1879 .•... . ......• 109,000,000
1880 .... .. . . . .... • 106,500,000
1881. ... . . .... .... 103,000,000
1882 .• . ...••• ..•• 102,000,000
1883 .... . . ... .. . .. 95,400,000
1884 . . . .. . . . . . ...• 101,700,000
1885 .. .... ..... . . . 108,400,000
1886 ...... . ....... 106,QOO,OOO
1887 ...... .. ...... 105,775,000
1888 •••.••••••. . .. 110,197,000
1889 . •.. •• . .. . ... 123,489,000
1890 . • . .. . .. . . . ... 120,465,000
Z891. •. .. . . .. . . . . . 126,159,000
55,300,000
62,262,000
67,753,000
62,648,000
73,476,000
74,250,000
74,791 ,000
78,890,000
86,470,000
89,177,000
81,597,000
91,652,000
93,276,000
96,124,000
108,827,000
125,420,000
134,380,000
143,994,000
70,673,006
77,578,000
78,322,000
75,240,000
81,644,000
83,383,000
85,636,000
89,777,000
98,230,000
98,986,000
90,817,000
97,564,000
92,772,000
94,031,000
102,283,000
117,268,000
141,100,000
14 '&,266,000
71,500,000
80,500,000
87,600,000
81,000,000
95.000,000
96,000,000
96,700,000
102,000,000
111,800,000
115,300,000
105,500,000
118,bOO,OOO
120,600,000
124,281,000
140,706,000
162,159,000
173,743,000
186,174,000
The sil ver product is given at its commercial value, reckoned at the average market price of silver each year, as well
as its coining value in United States dollars.
fThe exports and i mports ot gold and silver will be found on p . 111.]
22
RANKING .A.ND FIN.ANOJ.A.L .
. NEW YORK CITY BANK MOVEMENTS.
THE BUSINESS . OF 1892 IN ENGLAND.
The weekly returns of the New York Clearing House banks
during 1892 were not observed so closely as usual for their
direct influence upon the monetary status. But in times of
any pres1:mre in the market the bank situation is always a
matter of grea.t interest, and in the year under review the
effect of gold exports on the bank reserve was a subject f re•
quently under discussion. The surplus reserve of the Clear•
ing House banks never fell below the 2~ per cent requirement
in 1892, and the smallest surplus held was on Oct. 15, when
the amount was only $589,050. The accumulation of money
on deposit ran far ahead of any previ.>us year, and on June 18
the total deposits reached $543,663,100, ae;ainst $455,306,300 on
Dec. 26, 1891, as the highest in that year, and $445,797,500 on
July 6, 1889, as highest ever reached prior to 1891,
The following Clearing.House statement from Mr. Camp
shows the average loans, deposits, specie, legal tenders, and
surplus reserve over and above the legal requirement of 25
per cent of the deposits, in each week of the year 1892. In
each column the last three figures are omitted:
NEW YORK CLEARING HOUSE BASICS STATEMENT-(0OOs OMITTED,)
Week
Ended-
Loans. Deposits
Specie.
Legal Rei~rve Surplus
tenders. deposits. reserve.
-----1
-------------------Jan.$
$
$
Per Cent.
$
$
2 •...••..••. 438,616 466,218
9 ...•••. . ••. 44.4,289 477,382
95,972
99,050
445,8:33 486,392 104,569
447,202 497,472 110,402
453,5 ➔ 2 509,514 113,192
37,814
39,256
41,604
46,968
50,200
2S·69
28·97
30·05
31·63
32·07
17,232
18,961
24,576
33,002
36,020
460,653
466,291
476,571
480,880
111,992
112,935
113,152
lOi,814
50,293
5l,lll
50,520
52,140
31·49
31·46
30·80
30·07
33,441
33,65::l
30,857
26,969
f> ••••••••.•• 488,675 533,578 104,479
12 ....... . ... 492,934 531,970 100,455
19. . ......... 494,659 534,308
99,741
26. . •• . . . . . 490.435 530,120 101,218
50,207
48,734
50,035
49,318
28·99
28·04
28·05
213·40
21,292
16,196
16,199
18,007
52~,447 101,894
528,056 101,897
16..•.•...... 493,629 531,882 102,969
23 •...•...... 491,926 53:i,995 106,082
30.......... . 493,078 535,778 105,486
48,235
45,95a
45,789
46,949
48,494
28·69
28·09
27·99
28·68
28·74
18,017
15,839
15,788
19,532
20,036
16 . . .... . ... .
93 ...•••.....
30.......... .
F ..ib.6 .....•.....
13..........
20..........
27. ···•···· ·
March-
515,376
521,571
531,261
531,938
April2 ••••••..•.. 489,725
9•.•.••..... 490,875
May-.
7 .......... . 493,886 531,824 100,295
99,105
530,736
534,495 101,171
536,100 103,742
47,469
49,350
52,008
54,895
542,061 104,035
542,083 102,945
543,663 101,054
95,597
538,488
55,US9
56,120
57,64.5
58,897
29·37
29·34.
29·19
28·77
23.679
23,545
22,783
19,872
91,636
90,675
90,099
91,257
91,711
60,102
57,584
61,073
62,817
64,795
28·38
27·93
28·96
29·40
29·57
18,086
15,577
20,207
23,063
24,231
9Q,635
87,773
86,094
81,769
60,278
59,809
57,387
57,388
28·55
28•00
27·36
26•91
18,798
15,774
12,378
9,887
79,1\57
76,577
75,711
73,-1.43
55,324
53,236
52,126
51,738
26·49
25·95
25·99
26·05
7,630
4,781
4,879
5,051
1 •. .••••.••. 464,905 476,598
8 •..•••••••• 463,298 472,419
15 .......... . 459,525 468,183
22. ····•····· 452,333 460,885
29 . ......... . 449,112 457,050
71,921
71,907
71,782
70,649
72,850
51,621
48,134
45,802
46,904
45,305
25·96
25·40
25·11
25·50
25·85
4,392
1,936
539
2,332
3,893
5 ............ 449,019 455,841
12........... 445,958 451,606
442,646 452,022
73,670
75,143
77,763
79,432
42,968
40,437
39,84.6
40,299
25·57
25·59
26·00
26·49
2,678
2,678
4,560
6,726
4.44,628
442,560
441,801
4.38,180
437,722
79,099
77,714
76,995
76,885
75,968
41,l09
40,556
40,748
40,383
42,018
26·42
26·22
26-21
26·38
26·53
6,493
5,509
5,445
6,176
6,839
14.......... . 492,053
~l. ...••..••. 49O,94f3
28 ...•.•..... (88,813
June4 .•...•...•. 492,701
11...... . . . . . 493,669
18...... . . . . 496,564
25...... .. ... 495,230
July2 .......... . 4.94,4.64 534,608
9 •.•••....•. 492,187 530,730
16•...••. ··•· 482,436 523,862
2:1 •.••••..••. 480,378 524,047
30........••. 484,933 529,104.
Aug-.6 ........... 488,777 528,462
13 ....••...•. 489,771 525,231
20......... •. 492,054 524,412
27 ........... 490,667 5i7,081
Sept.3 ........... 487,101 509,005
10.... .•. . . . . 482,120 500,128
17•.•.•••.••. 475,311 491,836
24........... 466,657 480,522
Oot.-
Nov..-
19........... 444,222 -!52, 195
D~~.:.:..········
3 ...•••..••.
10...........
17 ...........
24 ...........
31. ....•.....
1
454,861
451,046
449,195
444,370
444,589
14,808
15,772
19,555
24,612
The table below shows that the bank clearings in New York
during 1892 were about 8·6 per cent greater than in 1891 and
in all cities (including New York) !M per cent larger than in
the previous year.
TOTAL CLEARINGS IX
NEW
YORK AND OTHER CITIES 1882·1892.
Year.
New York
Total Outside
Clearings.
NewYork.
1892 ............ ·······--····
f86,662,469,201
38,749,822,212
87,458,607,609
85,895,104,905
$25,446,598,773
28,197,519,598
28,370,482,893
20,280,223,098
18,441,807,846
17,672,972,826
15,616,891,606
18,821,889, 708
18,214,119,613
14,297,171,924
18,962,286,579
1891. ............. . ...... ... .
1800 ........... . .. . .... . .... .
1889 ........ . ... . .. . .... . ... .
1888........... . .... .. . ... . ..
1887 . .. .. ... . . .. . ,. .. . .. . .. .
1886 . ........ ... ... ..... . . .
1885 ..... .... . ....... ·· · ·····
1884 . .... ... .... .. . . ... .... .
1883 ........ . .... . . .. .. . .. . . .
1882 ....... .. . . .... . ........ .
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
31,10?,027,521
88,474,~,268
83,676,829,612
28,152,201,886
80,985,871,170
87,484.800,872
46,916,955,031
'l'otal
All Cities.
$62,109,062,974
56,940,811.805
60,829;090,002
56,175,827,997
49,15!1,0lK,81\7
51.147,529,094
49,298,721,218
41,474,041,044
44,190,984,783
51,781,472,796
60,878,241,610
[Commitnioated by our London correspondent.]
LONDON, January 14, 1892,
The trade of this country throughout 1892 was undoubtedly
bad, but a distinction must be made t-etween the foreign and
the home trade. Ever since the Baring crisis the great :financial houses of London have much restricted their acceptances,
some because of discredit, others through precaution. Foreign
merchants not e-etting the accommodation that they were accustomed to had in consequence to reduce their business. The
:fluctuations in silver, too. disarranged and lessened the trade
with the silver-using countries, the banking crisis and discredit caused a falling off in the trade with the Australasian
Colonies, and the exceedingly bad harvest all over Europe in
1891 has been followed by a decided decline in the Continental
demand for our goods. And as the foreign purchases of
British manufactures fell off British imports have likewise
considerably declined. The value of the imports for the
whole twelve moRths amounted to £423,892,178, a decrease of
£11,799,101, or about 2¾ per cent. The value of the exports
of British and Irish produce and manufactures was £277,060,
224, a decrease of £20,174,926, or about 8 per cent. In th~
preceding year there was a falling off in the value of the ex:
ports of about 6¼ per cent and an increase in the value of the
imports of about 3½ per cent.
The crisis that began with the Baring collapse, it will thus
be seen, had a much more immediate effect upon the exports
than the imports. The exports fell off almost immediately
and they have continued to fall off now for two years. The
imports, on the other h4nd, continued to increase throughout
1891 and have not fallen off very greatly even in 1892. But
there are signs that the falling off in the exports has very
nearly come to an end, while it has not much more than begun
in the imports. During the early months of the year, in fact
there were very heavy decreases in the exports, During the
last two months the value of the ex:ports has been nearly
stll.tionary ; the value of the imports, on the other hand,
continued to increase in the beginning of the year, but in the
last month of the year fell off more than 12 per cent. Partly
the falling off in both cases is due to the excessively low
prices, but not altogether ; there is some shrinkage in quantity
likewise. Roughly, it may be said that the value of our for
eign trade has now gone back nearly to the level of 1887, or
i:i other words, almost the whole increase during the inflation
period that preceded the Baring crisis has been lo!.lt in the
past two years. The greatest falling off, especially in our ex
ports, is in the trade with India and the other countries of the
Far East, Australasia and the Continent. Our trade with the
United States fel off somewhat in the earlier part of the year
but has increased-during the later part; and there is also an
increase in the purchases of the South American countries
especially Argentina and Chili. There is a very marked in
crease in the South African demand. Thus North and South
America and South Africa are beginning to buy more freely
from us than they bad done for two years previously, which
is another reason for hoping that we have reached the bottom
of the trade depression.
The home trade has not suffered nearly so much as the
foreign, and indeed throughout the graater part of the year
was surprisingly well maintained. The Treasury receipts for
the nine months ended with December show an increase of
somewhat over a quarter of a million sterling, the increase
being on steady increases for several years before. It is true
that trade depression does not tel1 very quickly upon the
revenue, but that is only because the purchasing power of the
working classes is not affected as quickly as the spending
power of capitalists. It is quite clear that the revenue could
not have been so large if the great body of the population had
not been able to speni freely; and especially it is noticeable
that there are increases in the very items of revenue which
depend most upon the general consumption. Furthermore
on total receipts of about 70 millions sterling on 17 of the
principal railways of the United Kingdom, the decrease, ac
cording to the weekly traffic returns, in the gross receipts is
only about £100,000. It is to be recollected that on a single
railway-the North Eastern-the great Durham strike is esti
mated to have cost not far short of half a million sterling.
If we allow for that it will be seen that there was actually an
increase in the railway traffic receipts during the year. Again
there is but a small falling off in thQ Clearing.House returns
for the 4th of each month, when trade bills are settled. The
1J~JVKJN9 AND l'JNAN<JlAL.
tailing off on the fortnightly Stock Exchange settling days
and on the monthly Consols settling days are heavy, but the
falling off on the trade settling days is not large. At the same
time the condition of the mass of the people certainly did not
improve as the year advanced. In· the spring the Coal Miners'
Federation, which embraces almost the whole of the miners ex•
cept in South Wales, Durham and Northumberland, attempted
to-keep up the selling price of coal by a great strike. The
strike, however, broke down after a week, and the men had to
resume work at the old rates of wages. Shortly afterwards a
strike occurred in Durham to prevent a lowering of wages.
It lasted for twelve weeks and ended in the defeat of the
work people. At the present time a strike in the Lancashire
cotton trade against a reduction of wages is going on; but all
parties admit that the trade is in a bad way. The~e three are
the only strikes of any importance in the year, but wages
have been reduced in nearly every industry and the number
of unemployed is unquestionably large at present. According
to the Labor Correspondent of the Board of Trade the skilled
laborers out of employment averaged for the year 5·85 per
oent, against 3·38 per cent in 1891, While, therefore, there are
signs that the decline in the foreign export trade is nearly, if
not quite, · at an end, it would appear that the home trade
suffered more at the close than at-the beginning of the year,
and is likely to fall off in the new year.
The worse condition of the home trade is, of course, largely
the result of the great shrinkage in the foreign trade, but to
some extent also it is a consequence of the agricultural depres•
sion. The spring and early summer were exceptionally cold
and dry. During the mid•summer the temperature continued
low and the harvest was ve~y wet and cold. In consequence
the hay crop was little better than half an average; the wheat
crop did not much exceed four-fifths of an average; the other
cereal crops, though nearly up to aveTage, were bad in
quality ; and as the food for cattle was exceedingly scarce and
dear all through the first half of the year, farmers in many
cases found it:diffi.cult to keep their stock. They were sent to
market in bad condition and sold for almost whatever they
would fetch. The prices, too, have been abnormally low.
The price of home-grown wheat, for example, opened at 363.
4d. per quarter ; at the end of the year it stood at 25s. 9d. per
quarter, a_fall of 10s. 7d. in the course of the year. All other
grain was likewise low. And there has also been a sharp
fall in cattle, horses and dairy produce. For example, in
Scotland 815 head of pure bred short horns realized an average
of £22. 9s. 2d. against £24. 4s. ld. in 1891. Partly owing to the
unprofitable prices, partly to the cost of feeding, and partly to
the unfavorable weather, there has been a decline likewise in
the number of young cattle and lambs, and an enormous
decrease in pigs. In spite of very considerable reductions in
rent going on all over the 001.1.ntry, farms are being thrown up
in large numbers, and it is found exceedingly difficult to let
them again.
The cotton trade has been depressed throughout the year, but
the spinning branch has suffered much more than the weaving.
The price ,of the raw material has been exceedingly cheap.
Unfortunately the price of yarn was correspondingly low,
and consequently the margin of profit was so small that in the
great majority of cases profits disappeared and in many in•
stances heayy losses were incurred. Early in the year negotiations were opened between the employers for a joint effort to
put down wages, but they came to nothing. At the end of
the summer they were renewed, and a propos3.l was put forward to insist upon a lowering of 10 per cent, The necessary
proportion of spinners,· however, could not be got to agree,
and the movement came to nothing for the time. But in
November it was resolved to enforce a 5 per cent reduction.
The operatives refused, insi~ting that the right course was to
adopt short•time, A lock•out therefore occurred, and has not
yet come to an end. There has of course been a large reduction in the stocks on hands but it is complained that even yet
the lessening of stocks has not been carried far enough. Manufacturers who are both spinners and weavers suffered less than
the spinners preper, and for the first half of the year
the weaving branch did fairly well, In the second half it
is complained that they were-little-better off than the spinners,
and they have warmly welcomed the lock-out in the spinning
branch. The lock•out has resulted in the stoppage of about
18 million spindles and a corresponding ~number of looms.
The home ·demand for cotton goods was well maintained,
and there was som in rease in the demand both for South
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
28
America and South Africa ; but the Continental demand for
yarn and piece goods alike fell off. It was, however, in the
Indian and Chinese demand that the greatest decline occurred.
That complaints of the spinners are well founded is evident
from the reports of the Oldham joint-stock companies. Out of 90
of these 57 have incurred losses amounting in the aggregate to
£269,000. The remaining 33 made profits, but in almost every
instance the profits are less thea in the year before. The
aggregate profits of the 33 barely exceeded £80,000, so that
taking the 90 companies together there is a net loss of £1t9,·
000. In 1890 the net loss of all the companies was under
£9,000.
The iron and steel trades have been much more affected
than coal. The total production of Scotch pig-iron during the
year was \177,213 tons, an increase of 302,788 tons. In the
north of England the production, including hematite, was
1,937,469 tons, being a decrease of 685 263 tons. Taking the
iwo dist,r icts together there is thus a nee decline in the pro ..
duction of 382,475 tons. Largely of course the falling off is due
to the strike in Durham, which for nearly a quarter of a year
stopped the supplies of coal, but to a considerable extent also
it is due to the shrinkage in the demand both at home and
abroad and to the competition of Germany and Belgium. In
both countries there is great depression, and every effort is
being made to sell abroad. In spite of the falling off in pro~
duction and the working off of stocks during the Durham
strike, prices have fallen decidedly. In January, for example,
Scotch pig iron warrents were quoted at 47s. ; they had fallen
at the end of the year to about 41s. 6d. Cleveland pig No. 3
in January was quoted 37s. 9d., was run up during the D1..rham strike to 41s. 3d., but had fallen at the end of the year to
37s. and at the beginning of January declined further to 36s. 9d.
Hematite warrants have fallen from 47s. lld. at the beginning
of the year to about 46s. at the end. There is, however, one
good result of the depression-it has stopped the gamble in
Scotch warrants, which caused so much disturbance in the
trade some time ago. In the manufacturing branches of the
industry there are loud complaints respecting manufactured
iron. It is being gradually displaced by steel, and though it is
dying hard, manufacturers all say that they are losing, owing
to the high cost of raw matarial and fuel. In the north of
England iron bars, plates, angles and rails have fallen about
4s. 3d, per ton, In Scotland common bars have fallen about
7s_. 6d. per ton. In L~ncashire the fall has been about 1Os. a ton
in bars, 5s. in sheets and 7s. 6d. in hoops. Although steel is
replacing manufactured iron, the trade is not very prosperous.
The output has been red'uced partly by a lesser demand and
partly in consequence of the Durham strike. In spite, how•
ever, of the falling of in production, North of England steel
rails have declined in price 2s. 6d. per ton, and both plates and
angles 15s. In Scotland boiler plates have gone down 22s. 6d.
per ton, ship plates 15s. and ship angles 208. In South Wales
steel prices have been pretty well maintained. In Stafford•
shire and Shropshire manufacturers have done fairly well,
and the special industries in Sheffield have been prosperous.
Trade in South and West Yorkshire has also beenfairlymaintained.
Ship-building has been very active during the year in
spite of the extraordinary production of the preceding four
years. The total out-turn amounted to 3,HI0,000 tons, being a
decrease of about 188,000 tons compared with the year before.
The Clyde stands first in construction, having turned out
more than one quarter of the total tonnage ; the Wear next,
the Lyne next and the Lees next. Ooming to individual ship ..
builders, Messrs. Harland and Wolff, of Belfast, built the
greatest tonnage-68,612 tons. Sir William Gray & Co., of
West Hartlepool, are second, with a little under G0,000 tons,
and Messrs ·Russell & Co., of Port Glasgow and Greenock,
third, with over 54,000 tons. The extraordinary production
of the past.five years has led to a market fall in freights, and
in the new year it is expected that building will greatly decline.
Early in the year as much as 30s. per ton for wheat cargoes
was earned from the River Plate, but the quotation fell to
12s. before the year came to an end. From Calcut~a the rate,.
which was 30s.' (linseed) at the beginning of the year, fell to
12s. 6d. before the year was out. At Bombay the fall was
from 21s. to 12s. 6d.; from New York the rates have fallen
from about 3s. 6d, to 2s. 3d. per quarter (grain). Sailing •
ships from the west coast of America obtained 27s. 6d. in the
spring, and towards the end of the year were glad to accept
13s, 9d.
BANKIN9 AND FIN.A.NO/AL.
The value of money throughout the year fl.uctuated less
than for a long time previously. At the opening the Bank of
gngland rate of discount was 3½ per cent. On January 11 it
was reduced to 3 per cent, on April 7 to 2½ per cent and on
April 28 to 2 per cent. It remained at the latter figure until
October 20 when it was raised to 3 per cent and so it continued
so the very end. Thus there were only four changes throughout the twelve months in the Bank rate. For the whole year
the average Bank rate was only a very small trifle over 2½
per cent. We have to go back to 1879, the year immediately
following the failure of the City of Glasgow Bank and several
smaller banks in England and Scotland, for an equally low
average rate. In 1892 the average was £2 10s. 3d, per cent; in
1879 it was £2 10d, 4d. Not since 1868, two years after the great
Overend-Gurney failure has there been an actuallv lower
average. Then the average Bank rate for the year was as
low as £2 1s. 11d. per cent. In the open market the average rate
of discount for the past yP..ar was under 1¼ per cent; in the
previous year it was not very much under 2 per cent. · Both
the Bank rate and the open market rate were thus exceptionally low last year. Mainly this was due to the stagnation in
business, trade continuing to decline month after month, and
Bpeculation baing absent. Partly, however, it was due to the
increased reserves held by all the banks and to the strength
of the Bank of England; and partly also it was due to the
magnitude of the gold imports. lt is true that the gold withdrawals nearly balanced the imports; but as gold continued to
be shipped from New York all through the year the belief
was litrong here that whatever demand might arise could
easily be satisfied by withdrawing from New York, and therefore except for a moment now and then no apprehension on
account of bullion was experienced. And upon the Continent
the ease was almost as great as in London. From the beginning of February, 1889, until the middle of May last the Bank
of France kept its rate at 3 per cent; even the Baring crisis
with all the eventualities possible did not induce it to change.
But in May last it was forced by the plethora of money in
Paris to put down its rate to 2½ per cent. In most other
leadin" Continental countries there was a similar accumulation of unemployed money. Even in the Far East the money
markets were wonderfully quiet, the Presidency banks in
India~ for example, keeping their rates lower than for many
years before.
Distrust prevailed more or less throughout the year. In the
very first month the long-expected bankruptcy of Portugal ·
occurred, and shortly afterwards tp.e Ministry offered to pay
50 per cent of the stipulated interest. Later, however, only
one-third was forthcoming. The bankruptcy had not as much
effect upon the Continental bourses as was generally looked
for, apparently because the event had been so long foreseen
that most of the great capitalists interested had had time to
get rid of the bonds they held. Also in Januaay the introduction of bills for the resumption of specie payments in
Austria-Hungary led to some apprehension in the money
markets of Vfestern Europe lest the withdrawals of gold might
be on too great a scale. But the ease with which it was found
that gold could be obtained in New York soon dispelled all
uneasiness. The Aulitralian colonies had fallen into discredit
preTiously, as they had been borrowing far too rapidly~ and
finding that they could not raise loans in the regular way,
early in January some of them sold Treasury bills in London.
Another cause of disquiet was the revival of rumors respecting
the once great house of Messrs. de Murrieta & Co. Some of
the debenture holders refused to take part in a conversion
scheme that was proposed. After a good deal of dissension
and threats of legal proceedings the conversion scheme was
dropped, and the Murrietas had to go into liquidation. By
that time, boweTer, it had become so notorious that the house
was hopelessly embarrassed that the final going into liquidation hardly troubled the City. Almost immediately afterwards
one of the leading bank9 in St. Petersburg failed, and rumors
continued current for some time afterwards that many other
insolvencies both in the Capital and the principal towns had
occurred, though in some cases assistance was given by the Government or compositions were entered into with the creditors.
The inability of the Australasian Colonies to borrow in London, the withdrawal of deposits by British depositors, and the
consequent falling off in employment, caused much distress in
the great Australian towns during March and April. In
March the Mercantile Bank of Australia closed its doors, and
several local financial institutions had likewise to suspend. In
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
June the New Oriental Bank failed. Almost immediately
after Barker's Bank also suspended. The latter led to the
failure of the London & General Bank, and that brought
down a number of building societies. Withdrawals of deposits from the building societies took place on a. large scale,
and there was a run upon the Birkbeck Bank, which was the
most important of all the building society institutions. Happily it came out of the trial with improved credit. The collapse of the New Oriental Bank increased the discredit of all
the Eastern banks, which had been brought about by the fa.ll
in. silver ; the Chartered Mercantile Bank of India and China
especially found that its d~posits were being withdrawn at
such a rate that it must either wind up or obtain new capital.
On appealing to its shareholders and its customera it obtained
the new capital, and the bank has b~en reorganized under the
name of the Mercantile Bank of India.
The state of several Continental countries tended to produce
more or less uneasiness in London. From the very beginning
to the end of the year Russia every now and then withdrew
gold in considerable amounts ; she also withdrew largely from
Berlin. As only paper is in circulation in Russia, and the
gold when taken to St. Pttersburg is locked in the Imperial
Bank, the reason assigned for withdrawing it, namely, to
secure the excessive note issues which have had to be made on
acco·u nt of the famine, is not generally accepted. Rightly or
wrongly, people persist in believing that the Russian Government is forming an immense war chest, and therefore every
withdrawal has given risetothequestion, How long can peace
be maintained? Even the decision of the Austro;.Hungarian
Government to resume specie payments added somewhat 10
the fear that war is approaching, many people refusing to
believe that a time like the present would be chosen for resumption, and holding to the idea that Austria-Hungary is
merely following the example of her neighbors in getting to
gether a war chest.
Silver during the year fell heavily, with a few wide fluetuations, which only added to the general perplexity. The
fall involved bankers and merchap.ts trading with the silverusing countries in serious loss, disorganized trade, and more
than all other causes put together spread distrust and apprehension here in London. The year opened with bar silver
at 43,¾'d. per ounce. Almost without interruption the price
fell to 41 ¾ d. per ounce early in February, then rose slightly,
and after a few days hesitation fell again to 39d. at the end of
March. After that, with some oscillations, there was a rise
to 41.¼d, per ounce in June, which was followed by a sharp
and almost uninterrupted fall to 37½d, per ounce in August.
In September and October there was another recovery, followed by another fall in December to 37 15-16d. per oz. These
movements excited alarm amongst those concerned, discredited
the Eastern exchange banks, precipitated the liquidation of the
New Oriental Bank and the reconstruction of the Chartered
Mercantile Bank, gave rise to much discussioll' as to the true
policy to be observed in India, and finally brought about the
International Monetary Conference at Brussels, which, as
everybody· knows, broke up without being able to agree upon
any practicable plan. The Secretary of State for India also appointed a small committee presided over by the Lord ~hancellor
to consider what policy the Indian Government ought to
pursue in the new state of things. The committee took the
evidence of bankers, merchants and others, but interrupted
its proceedings during the sitting of the Brussels Conference,
as some of its members were also delegates to the Conference,
When the Conference broke up there was a further adjourn•
ment until after the Christmas holidays.
The Stock Exchange showed hardly any feature worthy of
notice during the year. From first to last business was inactive. Operators were afraid to incur risks, and the
volume of transactions shrank more and more. During the
first three months of the year there was almost uninterrupted
selling of American railroad securities on a scale seldom
witnessed. Gradually the selling came to an end, but the
public and speculators alike stood aloof from the American
market. For years before the public here had been getting
rid of European Government bonds, and the process was continued throughout last year. There was also selling of
Colonial stocks, especially Australasian, due to the banking
crisis out there: No new issues worth mentioning we1 e
brought out, and hardly any new companies were formed.
The following table abows the .Bank of England rate of
interQSt for the past nine years :
·
13ANllJN(}. AltlJ PINANOJAL.
In the table below will be found a valuable comparison of
the highest, lowest and average price of silver for each of the
twelve months of 1890, 1891 and 1892 :
BANK OF ENGLAND RATE 01!' INTEREST.
Rate Number
per of days.
cent.
I
Year.
1884.
Jan. 1 to Feb.
Feb. 7toMar.
Mar. 13 to Apr.
Apr. 2 to June
June 19 to Oct.
Oct. 9 to Oct.
Oct. 29 to Nov.
Nov. 5 to Dec.
Year.
Year's average .••.
1885.
Jan. 1 to Jan. 29.
Jan. 29 to Mar. 19 .
Mar. 19 to May 7.
May 7 to May 14.
May 14. to May 28.
Ma.y 28 to Nov. 12 .
Nov. 12 to Dec. 17.
.Deo. 17 to Deo. 31.
1889.
9day
38 days Jan. l to Jan. 10. 5
3
35 days Jan. 10 to Jan. 24. 4
14day
319
3
20 days Jan. 24 to Jan. 31. 3lg
7day
2lg
77day
78 days Jan. 31 to Apl. 18. 3
2
112 days Apr. 18 to Aug. 8. 219 112 day
3·
21 day
20 rtays Aug. 8 to Aug. 29 . 3
4
28 day
7 days Aug. 29 to Sep. 26. 4
5
95day
56 days Sept. 26 to Dec. 30. 5
2day
Dec. 30 to Dec. 31. 6
2·96 366 dayH
Year's average.- •. 3·56 365 day:
5
29 dayE
4
49 days
49 days
1890.
319
7 days Jan. l to Feb. 20. 6
3
50days
14 days Feb. 20 to Mar. 6. 5
219
HdayS
2
168 days Mar. 6 to Mar. 13. 4lg
7 day s
3
2~ day s
35 days Mar. 13 to Apr. 10. 4
4
7days
14 days Apr. 10 to Apr. 17. 3¼
Apr. 17toJune26 . 3
70days
2·92 365 days June 26 to July 31. 4
35days
July 31 to Aug. 21. 5
21 day
4
21 days A.ug. 21 to 8Apt. 25. 4
35day
27 days Sept. 25 to Nov. 7. 6
3
43days
2
27 day
78 days Nov. 7 to Dec. 4. 6
3
35 days Dec. 4 to Dec. 31. 5
28day:
2lg
77 days
-·3lg
56 days
Year's average ..•. 4·52 365 day s
4
56 days
5
15 days
1891.
3·05 365 days Jan. 1 to Jan. 8 . 5
7day
Jan. 8 to Jan. 22. 4
14da.y:
I
34 days Jao. 22 to Jan. 29 3lg
5
7days
4
35 days Jan. 29 to Apr. 16 3
77days
31.g
14 days Apr. lo to Mav 7. Rig
21 day s
7days
21 days May 7 to May 14. 4
3
14 days May 14 to June 4. 5
21 dav
212
2
98 days JuL1A 4 to June 18. 4
14 day:
28 days Juoe 18 to July 'Z . 3
3
14dar s
4
121 days July 2 to Sept. 24 . 2111
84dayS
3~ day s
Sept. 2 l to Oct. 29 3
--·
3,34 365 days Oct. 29 to Deo. 10 4
42davS
Dec. 10 to DM. 31. 3¼
22 day s
12 days
4
Year'saverage. ___ 3·32 365 day s
3lg
7 days
28 days
3
28 days
~lg
56 days
1892.
28 days Jan. 1 to ,Jan. 21. 312
3
21 day s
63 days Jan. 21 to Apr. 7. 3
77day s
219
35 days A.pr. 7toA.pr. 28. 219
3
21 day s
21 days A.pr. 28 to Oct. 20. 2
4
175 day8
88 days Oct. 20 to Dec. 31. 3
5
72 day s
·--
--- -
-- - - Year's average .• _.
1886.
Jan. 1 to Jan.
Jan. 21 to Feb.
Feb. 17 to May
May 6 to June
June 10 to Aug.
Aug. 26 to Oct.
Oct. 21 to Dec.
Dec. 16 to Dec.
21.
17.
6.
10.
26 .
21.
16.
31.
l'RICE OF SILVER FOR THREE YEARS,
- -- -
·-----
7.
13.
2.
19.
9.
29.
5.
31.
Rate Number
per of days.
cent.
!
-
-----Yea.r'saverage ....
1887.
Jan. 1 to l!'eb. 3.
Feb. 3 to Mar. 10.
Mar. 10 to Mar. 24.
Mar. 24 to Apl. 14.
Apl, 14 to Apl. 28.
A:r,L 28to.A.ut 4.
Aug. 4 to Sep • 1.
Sept. 1 to Deo. 31.
Yea.r's average_ ••.
1888.
Jan. 1 to Jan. 12.
Jan. 12 to Jan. 19.
Jan. 19 to Feb. 16.
Feb. 16 to Mar. 15.
Mar. 15 to May 10.
May 10 to June 7.
June 7 to Aug. 9.
Au~. 9 to Sept.13.
Sept. 13 to Oot. 4.
Oct. 4 to Dec. 31.
--
-- --Year's avera~e ... 3·30 366 days
-Year's average .••. 2·52 366 day
S
1890.
1891.
1892.
SILVER.
High. Low. !Aver.
High. Low. Aver.
High.
d.
d.
d.
43~ 4134 421318
41716
41H>16 4116
7
41:lg 39
40 "
4016 3914 391lte
403s 39 11 16 40116
4116 40116 4091e
4014 R9116 395s
39116 37 7s 38616
386111 3816 38310
395s ·3816 381516
3914 3R~ 3f05l6
398m 3716a 383s
48~
46 34
45615
45
4516
46
463s
4616
45016
45
441m
44:1,_1
46 7 s
441.g
44:lg
43 7s
44¼
44¼
45:lg
45116
4434
44116
43¼1
43:lg
47 10 16
45ilta
441616
44~
44:lg
45
46
45716
45
44916
43~
49¼
4834
43¼
45116
54:lg
-d.- - --- -d.-- Low._l~
d.
d.
Jan ..•••.
Feb._., ..
March ...
April ....
May-····
June ..••.
July . ....
Aug · ·--·
Sept··--·
Oct ... ••.
Nov .. ..•.
Deo -·--··
- - - - -Year ..... 43~ 37 7s 391316
44 7s
44:lg
4438
48
47¼
49
5078
541.g
545s
51¼
4311"1 t8'1,
d.
44~
431116
4334
43 7s
46
4614
479 16
5084
50
4816
d.
I441.g
45
4714
44
43 7s
45716
47
47~
49s 16
52¾
53116
491•1 6
47¼
4816
431116 47ll, ~.
The situation of the Bank of France, as to its stock of gold
and silver, according to the last returns of each month of
1890, 1891 and 1892 was as follows, stated in pounds sterling·
GOLD AND SILVER IN BANK OF FRANCE.-fOO,OOOs omitted.]
1892. Gold.
J an. 28
F eb. 25
Mar. 31
April28
May
J une
J uly
Aug.
Sept.
O ct.
27
80
28
25
29
27
Nov. 24
D ec. 29
--
£
5-l,2
55,8
56,8
57,9
62,0
68,5
65,1
66,9
67,2
67,0
67,3
68,8
Bllv•,,TotaJ
£
50,1
50,5
51,0
51,1
51,6
51,8
51,7
51,9
51,6
51,2
51,1
50,8
£
104,8
105,8
107,8
109,0
118,6
115,8
116,8
118,8
118,8
118,2
118,5
119,1
1891.
Jan.
Feb,
·Mar.
April
May
June
July
Aug.
Sept.
29
26
26
30
28
25
30
27
24
Oct. 29
Nov. 26
Dec. 31
Gold. Sllv'r Total
18fl0. Gold. Sllv'r Tl t·
£
£
£
£
45,8 49,7 95,0 Jan. 31 50,0
48,6 49,7 98,8 Feb. 27 50,1
48,7 49,8 98,5 Mar 27 50,3
49,5 50,0 00,5 April24 51,1
51,5 50,7 102,2 May 211 52,2
58,1 51,1 104,2 June 26 52,7
54,7 50,6 105,8 July 31 52,6
54,6 50,7 105,8 Aug. 28 52,5
o3,5 50,3 103,8 Sept. 25 50,7
52,5 50,0 102,5 Oct. 30 47,7
53,3 50,2 108,5 Nov. 27 44,6
53,5 50,2 108,7 Dec. 26 45,0
£
49,7
49.9
50,3
50,6
50,8
51,0
50,6
50,8
so.•,
49,9
49,9
49,8
£
99, 7
100, 0
100,6
101,7
108,0
103. 7
108,2
108.3
EXPORTS
OF
IRON AND STEEL FROM
Pig Iron.
Rails.
-------·1------1·---Tons.
Tons.
GREAT
BRITAIN.
I
Other
!Descriptions. __T_o_tal._
Tons.
Tons.
2,740,217
1,504,864
467,986
767,367
1892 ·-········---···
3,240,148
1,697,844
702,24.7
840,055
1891................
4,001,430
1,820,731
1,035,431
1890 -··--··········· 1,145,268
4,186,182
1,905,919
1,089,892
18~9.... .••••••••••. 1,190,371
3,966,56~
1,910,242
1,020,002
1888. ·•••••••••••••· 1,036,319
4,143,028
1,973,075
1,011,779
1887 ··-············· 1,158,174
BANK OF ENGLAND IN 1892. -[00,000s omitted.]
3,389,197
1,605,289
739,651
1886 .. •••••••••••••• 1,04.4,257
....
3,130,682
1,455,475
714,276
960,931
··-·············
1885
4>
::l
~ti] cti
DEPOSITS.
SECURITIES. 0 d
3,496,991
1,4.97,439
728,540
a,rn·o .a~ ~-=:3 1884. _. ·•••••••••••• 1,269,576
4,043,308
1,508,095
971,165
~~o
d
~§
~
~0:l 1883 ... ··••••••••••• 1,564,048
..;
....
~o
Q;)
Q;)
4,353,552
1,658,531
Q;)1'1 ;§,s§
936,949
1,758,072
········-·
.....
1882
~o~
:§ I ""
~
...,cS
.::l
~Z>t:SA
3,820,315
1,517,458
820,671
1881................ 1,480,196
'3 0 ~
0
0 ....
:l
~~~
a,
c:,
3,792,993
1,466,055
693,696
1,632,343
...........
.
1880._..
~,Q~
0
0
~~~
i:q
P-4
~
~
2,883,484
1,196,170
463,878
1879 .. _.. _•..•• • _... 1,223,436
----·-···
_£
£
£
£
£
£
2,296,860
£
933,193
441,3~1
924,646
Pr.ct. Pr.ct 1878 ······••··•··•··
2,346,370
965,285
497,924.
881,442
1877 ...... _.........
13,2 32,5
13,0
6,5
25,9 22,5
34,1
31t 2
5,!:i
25,3 22,8
13,9
28,6
12,6
1151
31,0
R¼!
2,224,470
899,809
414,556
910,905
6 11887765' ·._··•.··.·.·.·.·.-. ·. ·.·.·.·.·.
2,457,306
963,498
545,981
947,827
6,2
28,7
3u,7 11,7
14,8
25,0 23,4
1~
3
}la16 1874-·-··---·····-··
2,487,522
621,741
24,!} 23,0
782,665
776,116
5,4
14,6
30,6 11,3 2P,4
3
2,957,813
1,030,734
785,014
27,7
2~,l 23,l
5,4
1161 6 1873 ..... _.......... 1,142,065
10,'I.
28,6
14,4
3
28,0
1:i,7
6,8
27,l
10,:!
24,6 23,9
2
3
27,5
10,2
27,3
16,2
8,3
24,5 24,2
23s
3
The quantities and values of textile exports from Great
10,~
16,7
9,7
28,8
28,l
~4.6 24,9
2¼
3
Britain for the last three years are given in the following table:
10,2
25,0 25,0
2~,3
16,4
29,8
10,8
2
3
10,0 27,6
10,8
24,9 25,3
16,8
28,5
1111
3
EXPORTS OF TEXTILE FABRICS,
17,4
10,6
27,5
28,4
l•·,8
24,7 25,6
3
158
1111 1
28,1
17,4
11,5
29,9
10.8
24,7 25,7
3
25,9
29,1:J
16,8
11,5
32.3
10,8
2l'>,5
3
1891.
1890.
1892.
15s
r
YEAR'FI EX.PORTS.
7,7
30,5
11,3 29,3
26,l 21',l
15,4
2½1 1
~lg 116
6,7
11,3
28,l
14,5
26,8
26,3 24,3
QOANTITIES.
27,0
ll,3
25,8 24,4
21.g lls
29,6
15,1
6,0
245,258,700
258,290,800
233,224,100
Cotton yarn ....... ... lbs.
26,>4
11,3
25,7 24,?:..
29,6
15,3
5,9
1!116
2
Piece goods ...••. yds. 4,873,295,400 4,912,475,700 5,124,966,000
11
5,0 3 ,9
27,4
11,3
25,9 24,5
15,0
2
33,17~,500
34,404,400
25,718,600
1 1111
Jute yarn · -··· ······-·lbs,
11,3
26,!l
10, e
30.3
15,4.
5,4
25,7 24,7
2
283,618,ooo
265,5:~8,800
.27 3, 775,~00
Piece goods . . .... yds.
31,2
5,5
27,2
11,3
25,6 25,2
16,0
2
131 6 Linen yar1:1..·--·· · -···lbs .
14,859,900
15,312,fiOO
15,477,800
30,3
11,3
25,5 25,7
16,6
6,6
26,9
1~1 6
2
Piece goods._. __ .yds.
184,039,800
171,320,100 159,457,700
11,3
2U,6
6,5
2ti,!i
26,'t 25,9
16,1
78
2
Woolen yarn. __ ... _... lbs.
41,438,800
41,082,800
4-!,7~8,700
2!},2
6,7
2o,l
11,3
26,1 26,1
16,5
78
2
55,914,200
56,485,600
51,236,100
yds.
..•.
.
Woolen tissues.
11,3
31,0
17,4
6,0
26,0
25,9 26,9
2
172,420,500
142,699,700 144,530,500
la1 6 Worsted tiflsues ...••. yds.
25,q 27,7
11,3
31,4
6,8
18,3
26,*
2
£
£
£
VALUES.
1131 8
31,7 11,3
28,3
26,7 27,R
17,6
7,6
2
11,177,348
12,341,307
9,696,1?2
Cotton yarn.·-·····-·····
fl,6
13,2 28,8
27,2 27,2
34,8
16,4.
2
131 6
54,159,758
52,431,977
48,765,289
Piece goods .•••. • •....
3'.!,5
4,2
24.,9
13,3
26,6 26,7
16,6
101 6 Jute yarn·--··········--·
2
341,986
386,405
286,329
26,5 26,8
32,4 13,5
16,6
4,8
25,l
78
2
2,534,606
2,625,835
2,51:il,645
Piece goods .......... .
32,2
4,5
24,8
13t~
26,8 26,8
16,7
78
2
891',026
866,393
889,176
Linen yarn . ··-·--······
31,9
13,2
27,0 2f,7
16,4
4,0
24,7
78
2
3,708,969
4,254.,9.!4
3,883,353
Piece goods .......... .
26,7 26,8
16,l
24,6
18,l
32,6
3,5
2
1
3,910,651
4,0•iB,458
4,056,734
Woolen y aro ...••..••.•••.
24,7
11,9
31,8
4,0
26,5 27,3
2
16,"'
6,016,31fl
6,0:U,803
5,709,762
116
Woolen fabrics .. ·-·······
24,5
11,2
26,1 27,6
31,7
17,3
3,8
2
10,326,254
8,711,411
8,979,659
111 6 Worsted fabrics ... . .. _...
11,2 24,6
26,3 27,8
31,6
17,9
3 ,7
2
1
3,4
26,'t 27,6
31,7 11,3
24,6
17,8
li,J 6
2
The complete trade figures of exports and imports to and
31,:i
24,5
11,8
27,1 27,8
17,1
3,6
2
75
31,5
17,9
4,4
from Great B1itain for three years are as below :
24,8
11,8
26,5 27,~
2
1
29,R
24,4
11,8
26,9 27,7
17,2
5,1
2
EXPORTS AND IMPORTS.
11!6
f,,7
2,,2 26,ll
15,4 2fi,l
33.2
16,2
2
1 J6
15,4 23.9
32,6
4,5
15,6
27,0 26,1
2
1 316
31,f>
15,5
24,2
26,ti 25,2
15,1
5,5
1891.
1890.
18&2.
3
238
r
r
15,l
26,3 25,0
5,4 30,9
2-1,0
15,l
3
214
28,9
14,4
5,2
23,2
26,4 24,4
14,5
£
£
3
£
EXPORTS.
2 78
13,8
28,7
4,9
Home products .•.•••. ___ 227,060,224 247,235,l!\O
'22,9
26,0 24,4
14,8
263,530,585
3
23s
27,8
4,8
13.0 22,2
15,3
64,349,091
61,796,593
64,400,420
25," 24,7
3
Re-shipment of imports..
214
27,6
22,1
11,6
25,5 24,9
4,0
15,9
3
271 6
28,7
23,3
3,7
11,i>
15,5
25,9 24,9
327,879,676
3
Total exports ..... ..... 291,460,644: 309,031,743
6
11,2
3,7 28,8
23,4
24,7
15,7
lMPORT8,
3
16
28,9
23,4
11,2
15,8
3,7
25,4 24,8
420,885,695
1131 6 Total merchandise ...••. 4.23,892,178 435,691,279
3
29,3
11,2 25,1
15,5
4,8
25,5 24,6
3
l~
15 4
4.7 29,4 11,2 2:;,3
93,006,019
25 5 244
3
1
Excess of imp. over exp. 132,431,534 126,659,536
-:~i I
z
---- --Jan. 6 ..
..
", 13
20 ..
27 ..
"
Feb. 3 ..
10 ..
..
", 17
24 ..
Mar. 2 ..
.
.
.
"
.,"
.
9 ..
16 ..
2~ ..
:,o . .
Apr. 6 ..
" 13 ..
..
" 20
" 27-.
May 4 ..
,, 11 ..
J 8 .•
" 251.•..
June
,
..
..
..
"
8 ..
15 . .
22 ..
29 ..
J1HY1t:
..
" 20
27 ..
"
Ang. 3 .•
" 10 •.
" 17 ....
" 24
·H
31..
'Sept. 7 ..
" 14 ..
" 21..
" 28 ..
Oct. 5 ••
12 ..
" 19
" 26 ....
"
Nov. 2 ..
" 169 ..
" 23 ••..
"" 30
Dec. 7 .•
"
"
"
14 ••
21..
29 ..
Sl7,
94, 5
94, 8
The exports of iron and steel from Great Britain have been
as below each year since 18i2:
The appended table, made up from the official statements
of the Bank of England , shows the position of the Bank as
regards bullion , reserve, etc .. on each Thursday of the year:
1892.
1
101. 6
=
--
§
--
--
I------:------1----
125,5
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
r~i
TRADE
AND
IMPORT, 1
RXPORT1,
The foreign trade movement of the country in the
ca]endar year 1892 was reviewe<i at some length in the
CHRONICLE of January 28, 1893. Our foreign trade
for 1892, in the aggregate of merchandise imports and
exports combined, was in excess of that of any previous
year, mainly owing to the great expansion in tbe
imports.
Comparing the two calendar years, the total at 1,814
million dollars for 1892 is 16 million dollars in excess
of the aggregate of 1,798 million for 1891. This difference of 16 million dollars is the net result of an
increase of 48 million dollars in the imports and a
decrease of 3i million dollars in the value of the exports. The imports are decidedly the largest in the
country's history, the amount of the same being 876
million dollars. In the calendar year 1891 the amount
was only 828 million dollars, in the fiscal year 1891-92
827 million dollars. But yet more striking are the
changes in the exports, the total at 938 million dollar
for the calendar year 1892 comparing with 970 millions
for the calendar year 1891 and with a3 much as 1,030
million dollars for the fiscal year 1891-92.
This latter comparison gives prominence to the great
falling off in the exports which occurred during the
last six months. In the half-year to December 31 in
1892 our exports reached only 459 million dollars, in
the corresponding half-year of 1891 551 million dollars, a decrease of 92 million dollars. The imports
on the other hand increaeed in each and every month,
aggregating 444 million dollars for the six months of
1892, against only 395 million dollars for the six:
months of 1891. As a result of these two movements,
the balance in favor of the United States on the merchandise trade was only $14,796,302 for the half-year
in 1892 :against $155,450,274 for the half-year in 1891.
This change during the last six months is of course
reflected in the results for the full year, and hence it
is that for 1892 there is an excess of exports of only 62
million dollars against an excess in 1891 of 142 million
dollars. In the following we show the imports and
exports for each calendar year back to 1870 inclusive.
MERCHANDISE EXPORTS AND IMPORTS (CALENDAR YEARS).
Calendar
Yea,-.
1870 •.........
1871. ........ .
L872 ••••••••• .
1873 .....•••.
1874 .••..•... .
1875 ..........
1876 ..........
1877 ....... , ..
1878 ..........
1879 ... .......
1880 ..........
1881 ..........
1882 ..........
1888 ...........
ltl84 . .........
1885 .. .......
1886 .... . •. . ..
18t!7 •••••••••
1888 ... ....•. .
1889......... .
1890 ......•...
18111 ...... _...
1892 ......
1
Exports.
I
Imports.
$
$
403,586,010
460,852,088
468,837,9-l8
567,757,867
569,872,558
510,047,422
6110,666,620
620,302,412
?87,09\!,o7S
765,159,825
889.~8.42i
833,549,127
7137,991,f,46
705,209,316
7411,:J66,428
688,249,798
713,404,021
715,301,044
691,760,748
827,106,347
857,502,548
970,509,1146
938,419,893
461,132,058
573, 111,0911
655,964,690
505,248,0~8
562,115,907
503, 152,\136
427,347,165
4&1,246,300
c!Sl,812,483
513,602,706
600,807,176
6-:0,209,448
752,843,507
687,066,216
629,261,860
587,b68.673
i363,4211,189
708,818,478
725,202,714
770,526,484
823,397,726
8:&8,320,943
87d, 199,179
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
I
I
E .vcess.
Total Foreign
Tra&.
$
Imp. 57,546,048
lmp. 112,759,0ll
Imp.187,126,751
Imp. 27,490,181
Exp. 7,756,6'16
E:r>p. 7,79i,4e6
Exp.163,310,464
Exp.140,056,112
Exp. 305,270,500
Exp.251,557,021J
Exp.192,87",246
Exp.16S,339,6i9
Exp. 15,188,439
Exp.108,143,100
Exp.120, 104,568
E.r;p.100,881,125
Exp. 49,974,832
Exp. 6,482,566
Imp. 33,441,971
Exp. 56,579,863
Exp. 34,101,822
Exp. 142,188,708
Exp. 62,221,714
COMMERCE.
'
864.718,068
1,033,468,187
1,124,80~,647
1, 163,005,\115
] , 131,088,460
1,014,100,358
1,018,013,794
1,100,548,71:&
l,ltlS,004,556
1,278,762,621
1,586,400,508
1,503,709,575
1,520,825,453
1,482,275,532
1,378,628,289
l,2i6,118,471
1,376,833,2 lO
1,424,119,522
1,416,963,457
1,597,632,831
1,680,900,27-4
1,798,830,589
1,814,618,072
PRICE ►•
,
rrhe following table shows the expo1·ts of the leading staples for the last six years, the items of cotton,
petroleum and "all other" showing a decrease in 1892,
while breadstuffs, provisions and live stock show an
increase.
Exports.
189:.1.
cotton .... ..
$
Breadstutfs.
P
rov'ns, &c.
attle,sbeep
and hoi;rs ..
P etr'lm, &c.
c
I
1891.
1890.
1889.
I
$
,i
1888.
1887.
$
$
---- ----
217,000,0001277,038,511 254,275,863 266,M9,3i5 225,122,lll 215,974,267
248,000,000 j232,621,992 141,602,8!7 129,665,377 116,662,663 161,230,782
148,000,000 131,655,951 142,8!2,419 123,307,318 91,24.9,316 83,760,932
36,000,000 29,H2.508 34,!l79,626 26,207,815 13,401,658 9,3!2.M3
42,700,000 46,174,835 52,270,953 58,293,299 48,105,703 46,898,8!2
----
--
Total. . . .. . 691.700,000 716,933,797 625,471,708 599, 723,154 494,541.451 527,207,466
181:,.093,57
A II oth. exp. 246,719,893 253,575,849 232,030,8!0 227.~3,193i197,219,2fl2
'l'o 1al . .. ... 938,U0,8113 970,509,&.16 857,5()2.548 827,106,347 691,760,748 715,301.(.'44
The following table shows the prices of leading articles of merchandise about the first of January i~ 1860,
which was before the war excitement had begun to
affect the markets; on January 1, 1870, and for the
past five years-1889 to 1893 inclusive.
01'' :llERCllANDISE IN NEW YORK,
COlIPARATIVE !"RICE
January 81860. 1879. 1889. 1800.
-$ -c.- - --·--- ------ --$ c.
$ c.
$ c.
BreadstutfsJ<'lour--N o. 2, ext •. . bbls.
Patents . • . ...... bbls.
Rye, superfine ... . . bbls.
Cornmeal, Br'ywine.bbls
t Wbeat-W bite, No.I .bu.
Red Winter, No. 2 .. bu.
West'n Rpr'g, No. 2.bu.
Rye, Northern . .. ... bu.
Oats, No. 2, white ..... bu.
CornWest. mixed, No. 2 .. bn.
*Cotton4
f~~d~B~dV1~:~pia~c1:lt
•
Cotton goodsBrown sheetin~s ..... yd
Print cloths, 64:x64 . . .. yd.
FishDry cod (George11) .... qt!.
No.l~Ma.<1s.)mackerel.bbl.
1
'; 75
:{ 10
2 85
7 50
4 011
S 00
1 50
1 ao
111
47
90
Lf:~g~~~1ft~~iciaiici ·:1> ~t
Molasses-N. Orleans .. i;rall.
Naval Stores-
~~~i~ot~E:{:t1~~--·: :\a~l:
OilsCrude whale .......... gall.
t~~~:er~:icuii~·.:: J!ll:
Petroleum-
8¾
90
87
110
t•O
47
$
c.
$ c.
3 75
5 :,5
3 40
2 20
4 00
3 10
4
so
3 25
l 07
I O!
l Otl
31
7!i
51
41
60
5 o:
510
3 40
1 0-1
l 04
1 oa
119
2 !JO
80
80¾
~¾
~I
4.S
~3
51¾
9¼
7¾
10¼ 9 5-16
8¾ 7 3-16 9 7-16
8
7½
8¾ S 15-lti
5¾
4 25
4 50
16
llU
45
6%
15
22 00
17 00
400
so
~½'
75
58
80
37
30
44½
1 65
52
1 40
57
I::}· El~~.~~~~~~~::ggJ:
f:~~~~~lfe~%·:::::::: :It
* FLOUR-".Nll.
8 25
:t 65
00
05
o 7-16 0 1~m
ll
Crude In bbls .........gall.
Refined In bbit! ....... gall.
ProvisionsPork, mess ............. bbl. 16 37½
9 50
1450
9¼
10½
Butter, prime State ... lb.
~
Cheese, fine factory .... lb.
11
Rice-Domestic .......... lb.
4¼
SaltLiverpool ground .... sack. l 15
Liverpool,Ashton's. sack. 1~
Scfua;~ fair refining ..... lb.
Refined hards ....•.•... .lb.
Tallow ....................lb.
Wool-XX Ohio1fieece ... lb.
5 00
~o
1892.
11¾ II 1- 16 9 5-16 10 1-rn
IronScotch pig ............. ton. 24 50
Hemlock sole, light .... lb.
a oo
75
75
1 08¾ 1 O.!
l 05
98
··u2
61
60
33
85
46½
·::.:·:~~. .~g: i·oo
II:~~'1ln1ftf
..ia
Hops, prime State ....... .lb.
ioo\<t~.
L~~~~X::fsl~c,.".:::
Leather-
S
6
3
S
1
3 90
4 80
18113.
1891.
$ c.
- - - --- - -
7¾
..1·o·u
~
71!
n 7½
3½
5½
t:s¼
8¾
6),,4
27 00
40
24
24
20 00
18 00
23 00
111 50
4 20
22 00
1tl 00
17 00
14 uo
HJ
38
17
26
90
30
39
1 40
1 411
52
71
51:!
51
70
5'I
27 00
00
2()
311()
8 85
A8
18½
25
1 00
43
1 uo
45
40
70
58
41
70
60
II¾
7
71}.!
7½
~
74
85~
9¾
28
95
7¼
7¾
fl¾
4 25
84½
~
6 50
tl5
6¾
8 Sf>
IR~
26
l."5
30
3?~
1 30
48
72
5ti
5 85
ti½ 5 so
11 50 10 50 18 50
7 50
7 50
7 00
1225 l:&75 15nu
1~
7¾
7¼
8½
11
6½
4>ii 6 3 16
26
~
~
~
11¼
11½
51¾
IO½
4½
5½
5¾
5¾
10 25
7 25
1225
W
12
6
70
250
85
250
70
250
fl
4
7 75
26 I 0
65
i¾
~
S 1~ft
6 00
22 o,,
45
14 25
7 25
1300
10
7 05
10 1)0
1700
6
5 75
3
5 25
6 00
20 IIU 23 00
65
45
12
13¼
2~
15
-15
46
27½
1 02½ 1 20
1 35
38
81
63
1 7¼
4¾
~ I
-: 0
250
4¾ 4 9-16 81-1613 7-lfl
4¾
4¾
6½
5~
16 4 9-16 413-16
~
M
85
681.t 4 7~1~
7..
70
117½
250
250
I •
2 Extra in bbls." is now tile common shipping flour to
Great Britain, and is about the same as the "Wheat Flour, State,"
quoted in 1860and previous years-•·Patents" are the hi~hestgrades
and correspond with Extra Genesee of 1860 and previous years.
t WHl!;AT-" White No.1" prob!1.,bly corresponds as neru:ly as any present
grade with White Genesee in old classification-" Red Winter No. 2"
would probably rank with •·Red Western" of old olassiflcation.
The other grades mentioned for breadstufts cover same as quoted
in old lists of prices in "Hunt's !If erchants' Magazine."
t CorroN-On Oct. 1, 1874, grades of cotton as quoted were changed bJ
the National Cotton Exchange. According to the new classification
every grade was reduced, so that (for illustration) Middling accord•
ing to new olassifl.oatiou was on that day quoted 3sc. lower th".Q
Middling of the old olassiflca.tion.
I The brown sheetings quoted ar., Atlantic Mills.
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
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~
~
~
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1863 ..
1864 ..
1865 ..
1866 ..
1867 . .
1868 ..
1869 ..
1870 ..
1871 ..
1872 ..
1873 ..
1874 ..
1875 ..
1876 ..
1877 ..
1878 •.
1879 ..
1880 ..
1881 ..
1882 . .
1883 ..
1884 ..
1885 ..
1886 •.
1887 ..
1888.
1889 ..
1890 ..
1891 ••
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0
$
.
$
$
4,053,567 17,960,535 6,169,276
1,938,843 15,3:{3,961 3,527,010
3,311,844 20,089,055 1,822,327
2,503,831 11,341,420 1,069,843
5,045,609 14,719,332 2.7~6,951
5,4"0,925 12,562,999 4,165,186
5,675,308 10,951,000 7,560,722
14,362,229 16,155,2!)5 5,055,353
14,386,463 14,4.21,270 2,104,530
5,026,231 15,690,455 1,171,258
384,677
12.798,490 17,446,483
8,951,769 16,849,619 1,396,934
7,203,924 14,158,611 5,437,432
7,943,972 14,802,424 1,745,293
14,528,180 12,804,996 4,231,273
16,491,099 14,154,69-, 2,571,885
442,529
14,671,052 12,093,792
12,275,014 11,687,125 1,863,986
7313,825
10,544,238 18,451,399
8,095,336 17,302,525 1,184,255
10,755,242 19,615,770 2,679,979
14,594,94.5 15,548,757 5.787,753
16,550,627 15,506,809 5,736,333
17,850,307 13,560,30110,186.12.'>
17,260,19113,160,288 3,995.883
15,403,669 12,092,403 5,816,150
18,678,'.U5 12,118,766 5,021,953
21,032,984 12,;;s4,856 3,870,859
18,0-.i6,8ij(1 12,210,527 1,423,103
19,955,086 14,546,137 6,873,976
$
$
l,9~3,7i3 186,003,912
1,395,969 143,504,027
l,2ll2,775 136,940,248
2,33(),854 337,518,102
3,095,225 279,786,809
5,872,941 'l69,389,POO
6,661,692 275,166,697
9,216,511 376,616,473
11,934,099 t28,398,908
5,908,036 428,487.131
10,318,351 505,033,439
5,Fi33,785 569,433,421
2,837,581 499,284,100
4,722,318 525,582,247
8,796,226 58~,670,224
4,106,355 680,683,798
6,999,877 698,334,951
5,931,040 824,106,790
4,441,078 883,925,947
4,752,95a 733,239,732
7,517,173 804,223,632
tl,119,995 72.t,~64,852
12,119,082 726,682,~46
10,353,168 6';5,96 l,52 1
9,291,468 703,022,923
7,402,529 683,862,104
ll,404,586 730,282,609
12,495,372 845,293,82"
q,,57,274 872,270,283
16,045,492 101573201 l
~
~'° g<l'!1~i~ .... ~ic,:,~c,:,~=c,:,a~c,:,~=~
....;::::
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1
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""::s : :"'o
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:_:?~~S.gf ~ :ii 5-o..., :>e t!J::soe :!~~ :! 4 § ~ B-o~Q) ~E ... o ~ !~£ ~..., -o :s!1o-s :~-o
~~o~~os~o~ :~-a,g-ao'$.g~ :g!g 8 :""~
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: ► ci ~-oa ... go ol -o
od ""' ► t Q)~ "'.d Q)0Q) : ► § § §o.go.g 0 ~~ ~ol~ ...,: : ► .d~ 0o=
0
•;f~o=~'E!o'o: 0 .-o·-:o .:C ·= Q)~ f-O~o-;J 'g ·;::: :::::o~oi,Q)o 0
·;:::g 'afotlo3~o-;io;io§:-O§:f;otiotlotl'o i::: =.d::so
◄ ~Q-o,..o~'O~+'o!'O~= = =-o~i:,, == -- o:! o'O0 Q) a ::,ol'O0'O0 '0~
=
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. :~
:·8
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=
Q>'O::S'Oc;:,d'Oo-Ob'Oo oo'Oo-Oo'OoO ~
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oo c o o oo o o u
---,----
$
5,530,538
11,176,769
6,498,228
8, 196,261
17,024,866
8,737.443
14,13~,568
12,056,950
6,883,561
8,717,458
8,682,447
19,503,137
13,696,793
7,992,709
26,246,234
13,380,215
5,624,94S
80,758,396
100,031,259
34,377,054
17,734,149
22,8:il,317
26,4::91.696
20,743,347
42,910,601
43,934,317
10,~84,858
12,943,342
18,232,507
49,699,454
~
'"'..C'!.
1i i~
1
1
1
l11i~eie-j1J1j]! ~Ji~J1f]f]--j-!ie-11e~!JiJJ:JI ]ij;l~ll'.ew;:111~~*U]!
~~
~~~
:a3:: .o158
-
30,
H ~o o
FH0:11
1863
o
.;to.g.e...:.""ol-0: :.......
o
o
TO
1892,
$
'l'otals.
Merchan•
Gold Coin Silver Coin
and Bullion. and Bullion.
dise.
i - - $ - -1- - - $ - -1- - $ - - 1
97,134,fi24
56,558,706
70,127,466
36,221:1,676
68,231,158
28,442,776
28,580,609
64,581,678
4.8,377,502
44,472,038
32,645,48H
61,543,545
29,431,757
22,359,101
6,632,570
4,145,085
1,775,039
1,826,307
31,-l03,625
8,920,909
35,291,204
2,741.559
32,766,066
5,705,304
12,560,084
54,930,332
13,403,632
84.939,551
43,321,351
o
~
P..
~
O
= : ....
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~
oo oo oc8 8
.i:1
a
i~
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INCLUSIVE.
BALANCES.
Domestic.
.l!'oreign (re-exports).
Gold Coin \ Silver Coin
Merchan- j Gold Coin I Silver Coin I Merclutn- 1 Gold Coin \Silver Coin! Me1·chanBullion. and Bullion.
and
dise.
and Bull'u. and Bull'u.
dise.
and Bullion. and Bullion.
dise.
$
243,335,815
316,447,283
238,745,580
434,812.0'16
395,763,100
357,436,440
417,506,379
435,958,408
520,223,684
626,595,077
642,136,210
567,406,342
533.005,436
460,741,190
451,323,126
437,051,532
445,792,141
d67,885,565
642,664,628
724,639,574
723,180,914
667,697,693
577,527,329
635,436.136
ti92,319,768
723,957,114
745,131,652
7~9,3L0,409
-l44,91n,196
827,402,463
g~~~,~<l'! ....
EXPORTS.
IMPORTS.
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5:'l,993,562 203,964,9!)7
3,338,938 158,887,988
8,059,418 162,013,500
12,515,908 348,859,522
18,746,520 297,303,653
15,514,817 281,95i,899
14,473,190 286,117,697
15,303,193 392,771,768
19,821,681 442,820,178
24,420,738 444,177,586
20,433,508 522,479,317
27,054,200 586,283,040
22,313,584 513,441,711
20,606,934 540,384,671
20,775,637 602,475,220
20,429,315 694,863,966
13,409,950 710,428,743
7,572,854 835,793,924
12,400,637 902,377,346
12,076,640 750,542.257
12,702,272 823,839,402
14,931,431 740.513,609
21,634,551 742,189,755
19,158,051 679,524,830
17,005,036 716,183,~11
20,635,420 695,954,507
25,284,662 742,401,375
22,37ij,557 857,828,684
14,0::rn,714 884.480,810
16..!76f>,067 1030278148
6,169,270
l00,601,634
58,381,033
71,197,309
39,026,627
7:l,396,344
36,003,498
33,635,962
66,686,208
49,548,760
44,856,715
34,042,420
66,980,977
31,177,050
26,590,374
9,204,455
4,587,614
3,639,025
2,565,132
_32,587,880
11,600,888
41,08 L,957
8,477,892
42,952,191
9,701,187
18,376,234
59,952,285
17,274,491
86,362.654
50,195,.'l27
$
Merchandise
Excess.
$
Gold Coin and I Sllver Coin and
I Bull1on
Excess. Bullion Excess.
I
57,987,'.335 Tmp. 39,370,818 Exp.
4,734,907 Imp. 157,559,295 Exp.
9,262,1\13 Imp. 76,732,082 Exp.
14,8W,762 Imp. 85,952,544 Exp.
21.841,745 Imp. 98,459,447!Exp.
21,387,758 [mp. 75,483,541 Exp.
21,13~,882 Imp. 131,388,682 Exp.
24,519,704 Imp. 43,186,640 Exp.
31,7f>='>,780 Imp. 77,403,506 Exp.
30,328,774 Imp.182,417,491 'Exp.
39,751.859 Tmp. 119,656,288 Exp.
32,587,985 Exp. 18,876,698 Exp.
25,151,1'15 Imp. 19,563,725 Exp.
25,32P,252 Exp. 79,623,480 Exp.
2P,571,863 Exp. 151,159,228 Exp.
24,535,670 Exp. 257,814,231 Imp.
20,409,827 Exp. 264,636,602 Imp.
13,503,894 Exp. 167,908,359 Imp.
16,841,715 Exp. 259,712,7181Imp.
16,829,59~ Exp. 25.9Q2,683 1Imp.
20,21P,44., Exp. 100,6<>8,488 1Imp.
26,051,426 Exp. 72,815,916 Exp.
33.753,633 Exp.164,662,426 1Exp.
29,511,· l!-! Exp. 44,088,t:H:141Exp.
26,296,504 Exp. 23 863,443 Imp.
118.037.949 [mp. 28,002,607 Imp.
2,730,277,Exp.
36,H89,248 Crop.
34,873,9 '9 Exp. 68,518,275 Exp.
:l2,590,!l8>-( E>.,p. 39,f>fi4,614 F.xp.
32,810,M9 Exp. 202,875~686 Exp.
.
$
638,738 Exp.
89,484,865 Exp.
51,882,805 Exp.
63,001,0-18 Exp.
22,001,761 Exp.
63,658,901 Exp.
21,870,93i> Exp.
21,579,012 Exp.
59,802,647 Exp.
40,831,302 Exp.
36,174,268 Exp.
14,539,'.!83 Exp.
53,284,184 Exp.
23,184,341 Exp.
344.UO Exp.
4,125,760 Exp.
1,037,334 Exp.
77,119;371 Exp.
97,466,127 Exp.
~.7~i•!7f Exp.
t>,13..,,:/6_ Exp.
18,2f>0,640 Exp.
18,213,804 Exp.
22,.!08,842 Exp.
33,209,414 Exp.
25/>58,083 Exp.
1.9,667,427 Exp.
4,331,149 Exp.
68,130.087 Exp.
495,873 Exp.
$
53,933,7'18
2,796,06!
5,\.150,349
12,342,931
16,796,136
l:'\,936,833
15,459,574
10,157,475
17,3H9,317
25,302,1'>43
26,953 369
23,636,216
17,947,241
17,385,280
15,043,fi83
8,044,!'>71
5,738,775
1,227,980
fl,297,477
8,734,263
9,464,203
11,456,481
17,203,006
ll,6fl0,912
9,036,313
12,634,280
18,011,038
13,840,945
4,56!,108
12,855,473
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~
i:s
TRADE .AND
ME'ORTS OF LEA.DING ARTICLES FOR YEARS ENDI G JUNE
30.
The table below shows a comparison of the imports of lead~
ng articles of merchandise, both quantities and values, into
the United States, in the last four fiscal years. This compari~
son exhibits the relation between quantities and values as
affected by the change in prices of many articles. The largest
imports of merchandise ever recorded were in tbe year ending
June 30, 1891, amounting to a total value of $844,916,196.
COMMERCE.
938~419,893 in 1892, against 970,509,646 in 1891, and the
so-called trade balance was $142,188,703 excess of e~ports in
1891, aga·nst only $62,221,714 excess in 1892. The gold move.
ment of the year 1892 resulted in a large e~cess of e~ports,
amounting to 59,045,5?4.
MERCHANDISE.
Fm· the12
For the 6
For the
month of months ended months ended
.Dec. 31 .
Dec. 31.
December.
IMPORTS OF LEADING AR rwu:s FOil YEARS JCNDINO JUNE so.
- 90_.-J,_1_s_oo_-_0_1._ l_:S_o_1-_0_2_._:~8-8~1_1_88_9_
11,332,545
3,146,328
11,368,414
5,078,733
Barley ...•............. bush.
5,629,849
7,723,838
1,592,040
3,222,593
do value : ................ $
3,994,070
4,075,193
3,996,085
4,227,403
Books, maps, etchings, &c.$
Buttons (except of brass,gi1t
or silk) and OuLton mold•
3,207,128
3,252,406
and button materials ..... $
1,250,217
1,232,619
rn~rsv~lt!~~~~~.s:. ~~:: _.. ~ ~~*
4,026,828
3,662,603
935,193
1.155,829
Coal, bituminou~ ........ ton:,,.
3,087,760
3,929,245
value ..... $
do
dn
Coffee .••. ... ... ............ Ills. 578,:397,45¼ 4.99,159,120
7 ,267,432
74,724,882
do v11,lue . .... .. .. ...... ... $
Cotton, manufactures ofBleached and unbleacucd,
dyed, colored, stained or
32 S,;7 Ull
27,759,U41
3:l,970,-!02
pttlnted ........... !lq,yds.
30,380,180
4,645,067
3,503,241
4:,101:644
val. ..
do
do
HosiPry,shlrts,dr'wers,&1:
~:~:~~t 7,H9,0:10 6,7:i8,77f>
UJ,205,78-!
Other manufactures or .... ·
lU,517,:323
1H,U00,2U[,
2,[,32,4.37
1,¼U7,U¼U
2.3U2,G:37
Cutlery, value ..... ......... ·
1,458,7711
tl,476,299
7,030,301
8 708 5!-J8
Eartllen,stone& Chiuaware · 1
~·~}~
15,062,790
4:L8s:492
1G,918,80<J
8
value· :: : : : : : : : : :
2,41 ,976
2 074 912
52'~,240
1:185:5!J5
4,585,450
4,164,089
5,0!4,628
l•'tsh, value .. .............. . . $
4:590:5s5
2,645,972
20,468,475
Flax, hemp, jute, .tc., raw. ·
5,981,006
19,844,087
2tl,293,217
24,024,094
28,421,279
25,705,553
n~l~:.~·.
20,1rn,,111
20,943,900
18,746,417
25,983,136
10,197,131
7,416,193
9,828, 43
7,553,816
Fors and fur skins. valu~ .. $
8,75 ,964
tllass and Jtlassware, value.$
7,713,921
8,364,312
7,352,513
5,830,380
5,501,336
Gloveic,, kid and i'ther, val..$
4,523,600
8,026,566
Hair and mnts. of, value ·
2,585,941
~·~~·~t 1,799,664
26,850,218
21,881,886
llides and skins ......... .... $
25,127,750
21:930:159
3,94:i,864
Horse;, c11,ttle and sheep ... $
6,831,331
4,587,438
6,353,441
40,284,444
32,339,503
34,672,924
33,812,374
Ind. rub'r & gutta percha.lbs.
20,265,U46
val..$
do
do
12,387,131
18,375,449
14,854,512
Iron and steel, and manufac•
tures of82,891
8
81,916
146,772
$
PigJ~onvaiue·:::: _-:
1,812,675
2,018,967
3,682,687
45,882,274
69,280,491
Bar iron. . . . . . • . . ... . .lbs.
43,287,778
64,125,976
i:!53,297
1,135,665
do value .............. $
821,613
1,112,901
21:10
24,257
134
Railroad bars, steel . . tons.
250
10,014
581,109
3,479
value ..$
do
do
5,767
28,420,747
42,377,793
53,241,022
41,679,501
*Total value ............. . $
3,tl53,378
549,257
2,560,886
Lead, and manuf's of ....... $
657,658
6,812,607
6,019,823
Leather ..........•.......... . t
6,319.582
6,229,836
2N5,140
3,259,4!!0
1,515,546
Linseed ................. bush.
2,391,175
319,418
3,851,685
1,6tl7,552
2,839,057
do value . ............... $
9,605,611
9,60f1,687
10,076,509
9,295,099
Lumner .••.... .....•.. value.$
22,448,209
27,024,551
Molasses ............. .... galls.
20,604,463
31,415,800
2,877,744
4,753,897
2,659,172
value ............... f
5,159.481
do
666,.'>8!
488,241
Opium, incl. prepar~d .. lbs.
541,016
507,560
1,576,731
1,769,410
1,454,097
val..$
do
1,453,298
do
9,656,761
6,951,719
7,748,572
Ore, silver bearlnir, value .. $
8,953,608
2,386,668
1,646,774
2,410,368
2,196,500
Paintini;:s, statuary. &c ..... $
3.:➔42,30!
2,542,383
3,031,454
2,816,860
Paper a dmnfs. of, value .. ,
Paper stock-Rags ....... lbs. 142,738,S.58 149,101,331 121,05 ,212 117,932,075
1,798,139
2,552,851
2,059,447
2,530,611
do value ... ...... . ....... $
3,650,124
3,372,196
2,960,080
2,730,837
All other, vlllue...........
14,799,:-122
13,564,583
13,759,217
11,358,626
Pe ~per .•..••.•.. . . ·· - •. .. lbP.
1,069,268
1,578,421
1,338,637
1,619,215
du value........ ... .. ... ·
Precious stones and imita12,35!,420
12,466,976
12,180,482
10,771,633
tions, unset ......... value.$
Rice a~d rice meal ...... .lbs. 186,376,560 124,029,171 214,363,582 148,103,688
3,030,SA3
4,559,540
2,540,674
3,499,437
do value ........... ..... ... $
Salt ........................ lbs. 582,377,147 506,039,864 511,5811,163 470,151,826
713,901
928,889
950,925
943,131
do value .. . ............ .. ... f
'; ,521,342
4,917,688
5,943,360
5,329,646
Silk, raw ................... lbs.
24,321,494
17,994,654
23,285,099
18,5!4,025
do value ............... $
ARTICLES.
$\
IJ:!!
f~':'iti:!~cf
1~:~;g~~
::::.~?Z:
'.1:1.~~·. ~.~·: .
:::.t.~n.
0
2,~i:m
z!A:5~~:m
~:.~~l.;~~
1fH~:i~ 2~:~:~t 2~:~&:M~
ii~!:i~n~~~:ect~~! .
2,976,816
2,923,374
2,709,131
2,275,021
value . .... $
do
do
t oda..... . .................... 405,658,119 436,362,183 452,429,458 429,548,137
6,392,054
6,311,356
5,115,702
4,296,288
value ..... $
do
do
Sugar, brown .. ... .. ...... lb . 2,762,180,674 2,934,011,560 3,483,477,22213,556,509,165
96,094,533 105,728,216 10-1,408,813
88,471,829
value ... . ..... $
do
90,0711,030
83,453,339
83,886,829
79,575,984
Tea... . .............. .... lbs.
14,873,222
13,828,993
12,317,493
12,654,640
do value ................... $
43,908,652
39,787,622
34,993,099
33,877,287
Tin, blocks or pigs ... ..... lbs.
8,667,870
7,977.545
6,898,909
7,014,495
do vaiue .. . ................. $
Tin plates .............. .. . tbs. 7115,789,988 680,060,925 1,036,489,074 422,176,202
12,315,562
35,746,920
20,99..8,150
21,222,603
value ............ $
do
21,988,535
23,061,008
28,720,674
20,106,881
Tobacr.o, leaf ............. lbs.
10,332,423
13,284,162
17,605,192
10,868,226
value .... ..... $
de,
1,734,MS
1,984,4H
1,674,878
1,662,118
·watches and movements . . $
3,477,989
3,860,503
3,485,792
3,078,554
Wine In casks ....... .•. . galls.
2,46!,484
2,64.1,816
2,450,174
2,126,548
value ......... $
do
68-!,732
748,750
683,954
575,896
Wine in bottles .......... doz.
6,4 0,019
7,365,244
6,409,782
5,580,224
value ....... ~
do
Wool and woolen goods148,670,652
Wool, mw . . ............. lb . 126,487,729 105,431,285 129,303,64
19,6 ,10
18,231,372
15,264,083
17,974,515
value..... ..... ..
do
12,765,044
353,305
622,892
65 ,006
605,593
601;\I 7
Carpets ..... .. ...... sq. yds.
1,2 5,677
1,373,162
747,275
730,634
do value .............. $
,573,033
7
6,644,096
91,284,1 Ii 116,992,488
Dres11 goods ... ..... sq. yds.
16,474,601
1 ,242,991
24,202,310
19,466,474
value...........
do
4,687,272
8,690,425
14,4 7,316
22,033,188
All other wool manufact.
C~°at.:i!·::.".".".".".'.".::::::::::::$
9.~,~~ lt~:g~ 12,¥ig:m
... fnoluding maohinery, but not including iron ore; also including the
values already stated srparately.
t Includes bi-carbonatl:) or super carbonate, caustic, sal soda and soda
ash and all other salts or so 1a.
IMPORTS A D EXPOR-rs FOR THE rWELYE
MONTHS E DED WI-rH DECEMBER A TD
FOR THE SIX MONTHS, JULY TO DEC.
From the report of the Bureau of Statistics the foreign
commerce of the country for the twelve months ended with
December, and the six months from July 1 to Dec. 31, 1892,
is ascertained. These statements are more recent and fresher
for compari1nn. since the tables and statistics above in this
article are made for the fiscal years ending June 30.
The calendar year 1892 was marked by a volume of foreign
commerce never before equalt1d. The imports of merchandise
exceeded the year 1891 , which had been up t') that time the
largest on record, as they amounted to 828,320,943 in 1891
.iqrimt 876,19 ,179 in 189~, Tbe exports of merchandi ewer
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1892.-Exports-Dut'llestic ..•• $86,218,202 $-!52,203,234 $923,226,312
15,193,58l
7,063,706
1,3:.1.7,072
Foreign ...• -.
Total.. ..••...•••.••. $87,545,274 $459,2G6,94.0 $938,4l9,893
Imports .• _...•••••••••• 70,451,710 ' 414-,470,638 876,198,179
Excessofexportsoverimports $17,093,564 $14,796,302 $62,221,714
• ...•..•.•.•
. . • • •• . • . • . •
Excess of imports over export,sl • • •• • . . . • . . .
1891.-Exports-Domestic .... 1$118576126 $5-14,698,933 $957,333,5~ t
6,426,262 r 13,176,095
Foreign ... - •. 1 1,359,770
Total.. .... . .... . ..•. $119935:396 $;'>5l,125,rn5 $970,509,640
Imports.... . . . . . . . . . . . . 69,448,023 395,674.!)21 828,320.943
Excesso~~xportsoverlmports l$50,487,873 $155,450,274 $142,188,703
. . •.••...•.•
. . . . . . . . . •• .
Excess of nnports over exports . . . . . • . . . . . •
GOT.D A:SO SILVER-COIN AND BULLION.
18})2.-Exports- Oolfl- Dom .. $12,844,141 1 $34,314.,9201 $70,403,236
6,093,234
612,-&00
l~on·ign. .. . . . .. . . . . . .. . . .
1:01a1_-····· ····:·:··· $1~,8!~,141
81lve1-UomP.si1c.--. $:l.926,0
l,7d4, l l2
lfo l'i>i ~ 11. . . • •
Total ____ .... ...... $4,7TO,lU7
1
Total PXl)Ol"tS ..••. $17,554,338
Imports-G old .. .•. ... · 1 $1,540,~3~
1,824,::>29
Silver........
Total ..... ....... ..• . $3,3ti5,067
Excess of ~xports over imports $14,189,271
Excess oflmports over exports • . . . . . . . . . . .
$3-J,927,3~0, $76,496,470
$W,365,52G
15,610,308
$21,185,1'>48I $35 975,8114
$56,112, 6 $ll2,472,304.
$9,415,338 $17,450,946
21,726,252
13,ti20,6 l
$23,03 J,OL!J $39,177,198
$33,076,819 $73,295,106
• .••••.•.•••
•. . . •• . . . • • •
5I $10,54.6,q20
10,ti3 , 728
t891. -Exports-Gold-Dom ..
$254,501
..................
Foreign ..... .
Total. ....••....•.••.
Silver-Domestic ....
Foreign •..... !
Total. •.•••••••••..•.
Total exports ..••.
Imports-Gold ......... .
Silver ....... .
Total.····-· .. ---· ... .
Excess of exports over imports
Excess of imports over ex.ports
$254,501
$1,178.131
l,6~6.894
$2,l:!35,025
$3,089,526'
$6,018,851
2,080,654
$8,099,505
$5,00!i,9·7~
$7,233,035
1,:-l93,l42
$8,626,177
$6,9-16,361
11 ,073,912
$18,02v,,na
$26,646,450
$76,640,893
2,445,68':3
$79,080,581
$12,919,905
14,772,974
-$27,6.12,879
$106,779,460
$41,663,8461 $44,970,110
18,192,750
ill,849,615
$53,513,;•rn.1. $63,162,860
. • . . . . . . . . . . $43,616,600
..••.••..••.
$26,860,911
TOTAL MERCHANDISE AND COIN AND BULLION.
1892 .-E xports- D omes ,o.... $10l988428 $49 7,0 64, 9 74 $ 1013990 0
36,89~,123
Foreign ....•. ~- 3:,_111,l84 j _ l~,314,1334
Total. ..•.• ········-· ~100099612 $ol::i,37lJ,~Ot, $10508!-Jtl97
Imports ....•• · ······- -· 73,816,777 467,.'.106,657 915,375,377
Excessofexportsoverimport81$31,282,835 -$47,873,151 $135,516,820
• •••.•••••••
. ••. . •••• •••
Excess of imports over exports . . • . . . . . . . • .
1891.-Exports-Domestic ..• .
Foreign......
Total..._ .•. ..•...•• .
Imports...... ...•••. ••.
Excess of exports over imports
Excess of imoorts over exports
$120003758 $558,878,329 $1046894349
li,,893,316
3,016,664
30,394,75 7
$1230254~2 $577,771,ti45 $i077-289106
77,!'>47,528 449,188,282 89 l,483, "03
$45,477,894 $i28,583,363 $185,805,3iM
....••••.•..
......... ....... . .. ............. .
IMPORTS AND EXPORTS BY PRCNCIPAr, CUSTOMS DISTRICTS.
cuSTOMS
DIS- DECEM.HER, 1892.
T~lOTSAND
PORTS,
1MPORT8,
EXP ORTS.
12 months enaino
December 81.
12 mont ha entt,no
JJecem ber 81.
1892.
1891.
- - - -I - ----------- -Imports.
I
I
l!Jxports.
1892.
1891.
•
I
1,350,193 8,2$5,428 H,159,56!3 18,270,006 91,952,125 79,62J,925
:~~~-~r~~~:
5,5g8,342
8,Sl8,e3o 75,593,56? 70,804,622 58,1-06,672 81,759,1}55
lest'wn,Mass
18,675 5,545,UO tl,246,86tl
11,826
912,151:1
446
Brunswick,Ga
562,41i5
33,105 4,449,1168 4,886,S75
4'!3,882
6tl6.8L2
Buff'aloCk,N.Y
13\1,102 4,031,8&) a,778,71:19 2,5 8,218 2,610,0.'>~
hampl'n,N.Y
~94.174
C
46,255
808.926 l.2v4,057 ll,814,570 21,906,0'i!J
\12\1.5!4
Charlest'n, 8.C
182 17,085,983 13,!J7l,84, ;t,Ul:!6,552 :J,11.23,160
Chica.go,Ill .... l,7~9,tl2U
2,403,::11:14 l,lla6,\k-6
2S9,'i35
01nc1nna.t.t, Oa
241,700
638,:329 3,061,Stl:.! 2,51:13.121 5_7.5J,'ii2 4,299,745
Corpus Christi
478,\la 8,180,720 2,8811,540 5,\l:.!4,266 6,41J:.l,7011
Detroit, Mich.
2~~:8~~
410,\117 1,887,755 2,0i0,174
47a,!l4a
Duluth, Minn.
~.877
b63,8 I2 l.(M9,278 85.&8,741! 86.189,4»U
22,74!! 7,748.248
(}a.lvest'n, Tex
181.171
514,587 S,016,180 2,48:.!,265 8,27\1,97& 7,645,125
Huron, Mich ..
9'i 4,~o
44,000
884,~17
llt
63203
lll.ilw'kee,Wis.
1!1:!9,398
452.25l
283.507
64,235
........ 1,176,349
'.ld.lnn's'a,Mlnn
?S,1151 2,688,416 2,70 1.4fS3
Slo,5115 1
826.2!!3
5\l,i5-:S
ld.obile, A.la ...
571!,812 10,612,~i:l 21,21:14.050 21,868,9.:iO l07,tl~,l27 l15.l(J4,.:.f>l
Sew Orl'ns,La
122,t11a1 122,;41J ll,'15l.R98 14,55! till
1.975 1,1s1, :,,
Newp't News
47,818,507 32,9~,Hl8 572,61:-!.~9i52l,48!:l,277 377,7:.!:.!,983 887,18.l,1!63
1.i94,9oO b 111,24-,
u2,09u l 2,1!98,570 3,055,4~
1110
:r~:r~~~~i~ 242,2,063
42,710 8,::si-2,412 15,2(:i6,407
37,1118
936,416
Sorf'k,Va.,&c.
105,207
129,881
892.33-'> 1,it9.7!$~
12.800
1,748
41,770 1,673,182 1,801,86() l,Sl8,4di 1,764. 31
123,695
l,1Jclll,IJ4:3 1,55i,l.,1
Oswego, N. Y ..
815
l:.!8,60U 3,tlll7,4a8 2,~53,106
~6.1:1,15
SStl,7:U
8\1
Pensacola, Fla
Phila.del'a, Pa. 4,385,997 4,159,500 63,277,71:ll 62,438,2 LIi 6U,315,880 43,042,»tl
7311,004 11:165~2 2,874,062
&JIJ,014
lll:l,719
4'.-1,082
521,605 5:1:&1:1:osL 7,480,125
781,IW>
65:3,342
51,tllO
~~rtJts~d~:::
2~,403 3,155,tltll 7,742,451
6'; ,432
587,061
12,4~2
Ric~m'nd, Va.
. ..... .. 3,117,<l2j 3,083,3i>4
311,65,
:!t. Louls,Moa.
3a.n Fran., Ca.I. 3,tl23,U97 2.7flP,993 45,607,950 5a,~25,1Jj2 St,7i'i_¥9ij 48.557,831
472,3-Stl 20,Sf>0,85! 29,463,741
:&J~.~ltl
15,t04 1,856,528
~a.vannah, Ga.
552,0l l 5,3~5.242 4,1!73,710 B,171:1,057 8,31J8,IH6
423,200
Vermont, Vt ..
4&!,948 l,28tl,932 l,350,4t2 6,048,1:143 ?,l\15,675
54,391
204,145 f>,1:137,700 6,751,3:;6
123,48\J
584.5U!
7,41:15
$
.......
t~a;,~~\~r~Y
....... ··"""I •.•a..... ......
;n:r:~~ -·-- -·-- - - - --- ----
Totals, (in•
eluding all
oth'r nists.) 70.451 ,710 67,545,274 •76, H!5, 179 878,320,943 939,4.19,89 3 9I_0,509,6 1
Rema.1.n1ng 1n warehouse D ece mber 31, 1891. •••.••••••••.. $29,334,456
Remaining in warehouse December 31, 1892 .•••••• ·-·······$34,087,2 72
aintertor ports to which meroha.ndise can '!.>e transported without
appra.isement, under aet of .Tune· 10, 1880.
b Incomplete in the absence of -1aw prov iding the means of collecting the statistics of exports to adjacent foreign territory by ra.ilroa.d
ca.rs and other land vehicles.
.
THE
MONEY
QUOTATIONS,
. During 1892, as in 1891, the variations of the money
market were far less important in their influence on
financial transactions than they had been in 1890, the
year of the Baring crisis. There was never any real
stringency in call loans until December, w.hen,
owing partly to t :rn gold expm·ts, there was a temporary
pressure and call money rose to 25 per cent per annum
for a short time and again on the 19th touched 40 per
cent. But rates soon relaxed, and in the last week
no higher rate was made tban 10 per cent and the
average was 5·} per cent. The ew York Olea.ring
Ilouse banks never fell below the 25 per cent limit of
reserves.
Analyzing the table below, it is observed that the
total increase in coin, currency and bullion in the year
1892 was $16,251,029 and the increase in circulation,
or out of the U. S. Treasury and "in the hands of the
people," was $21,902,145. The national bank notes
outstanding increased in the year $1,325,839, and the
new legal tender notes, payable in coin, issued for
silver bullion purchased monthly under the law of
July, 1890, increased $47,418,521. It may be observed
that the exports of gold considerably exceeded the
whole amount of legal-tender notes issued by th.e
Treasury for silver purchases and thus neutralized the
effect of such notes so far as an increase of the circu•
lating medium was concerned.
On the first of January, 1879, at the date of resumption, there was in circulation $670,172,690 in greenbacks and national currency, besides the gold and silver
in various shapes which became then available, making
a total amount of coin and currency estimated at
$1,051,420,945. The total increase of coin and currency of all kinds between January 1, 1879, and January 1, 1893, amounted to $713,515,178, The following statement shows the volume and form of the cur
rency at various dates since the resumption of specie
payments, the method of compiling this table and the
reasons for its differing from the figures issued monthly
by the Treasury Department having been explained at
length in an article in the CHRONICLE of January 30,
1892, page 181.
'
MARKET ..
1 8 8 5-1 8 U 2.
I
Taking a retrospect of the course of the money m1.rket since 1870, we find that an extraordinary stringency
in money first began in October, 1871, and continued
with little intermiEsion for nearly two years, until tbe
financial crisis of September, 1873. But although the
construction of railroads in 1880-83 far surpassed that
of 1870•73, there was no stringency in money and the
financial crisis of l\fay, 188-!, was not preceded by any
cautionary signals in the money market. In the years
1886, 188.17 and 1888, when railroad construction and
other industrial and speculative enterprises called for a
very large amount of money, there was never any severe
and long-continued stringency in the money markefi
and not until the last half ctf 1889 was there much difficulty in getting call money in New York. Then followed 1890, when call money became very stringent in
the latter part of the year., and as early as August
reached the extreme figures of 25 per cent a year and
even ½per cent a day in some cases. The Treasury
purchased bonds freely, and on September 17 accepted
nearly $17,000,000 of 4 per cent bonds at 125 to 126¾.
But the relief was only temporary, and rates soon ruled
again at high figures till the climax was reached in the
November panic, which culminated with the embarras~ment of Baring Bros. & Co., announced on the 15th.
Among the principal acts of Congress since 1877
affecting the currency were the act of February 28,
1878, directing the purchase of silver bullion to t.be
amount of $2,000,000 to $4,000,000 per month and its
coinage into legal tender dollars; the act of May 31,
1878, prohibiting the retirement of greenbacks; tbe
act of August, 1886 (embraced in the Sundry Civil
Appropriation bill), authorizing and requiring the
Secretary of the Treasury to issue silver certificates in
denominations of one, two and five dollars; the act of
July 14, 1890, requiring tbe Secretary of the Treasury
to purchase 4,500,000 ounces of silver per month, and
issue Treamry notes therefor redeemable in coin, and
a legal tender for all debts "except where otherwise
"expressly stipulated in the contract." This latter
act (the text of the law was given in the CHRONICLE of
July 12, 1890, on page 41) also required that 2,000,000
coIN AND cuRRENcY IN THE UNITED ST.ATES.
ounces of the silver purchased each month should be
Tbe
Jan. 1. 1879. Jan. 1, 1891. Jan. 1, 1892. Jan. 1, 1898. coined into standard dollars up to July 1, 1891.
----------- act of March 3, 1891, directed the coinage of trade
$
$
$
$
278,810, 126 'i04,100,811 686,845,930 651,830,762
G old coin and bullion ...•.
dollar bullion into standard silver dollars, which was
Silver dollars .............
22,495,550 876,'246,880 4ll,543,740 417,876,985
sUver bullion ...... . ...... .
9,121,417
§ ••••••••
*6,175,020
carried
out after July 1 of that year.
········
silver notes.a.ct July ]4,'90
24,0ll0,500
77,327,102 124,745,623
········ 77,638,844
The
gold
value of the silver dollar (ba3ed on the price
Fractional silver ..........
71,021,162
7tS,566,l55
77,E98,748
National bank notes ...... 823,791,674 177,287,846 178,078,585 174,404,424 of silver in Lrlildon) for each calendar year from 1873
Legal tenders •...•......... 346,681,016 346,681,016 846,681,016 346,681,016
to 1891 inclusive, is subjoined.
Total in United States .. 1,051,420,945 1,712,220,91'; 1, 772,042,52& 1,792,937,558
Less standard silver dol lars coined from bullion purchased
under aot of July 14, 1890 •••.•.•••
..............
GOLD BULLION VALUE OF SU,VER DOLLAR.
28,857,634
28,001,685 Yea rs.
Highest. Lowe~t. Ave'ge Years.
Highest. Lowest. Ave'gfl
l,06l,4l:0,1h5 1,?12,220,91, 1,748,684,SPt l,7tl4,935,923 1873 ....... $1·016 $0·981 $1•004 L8~3 ....... $0·868 $0 847 :ti0'858
1874 ....... 1·008
·977
·991
1877 .. ·-··· ·987
'l'ot&l as abovi>•.......... 1,051,420,945 1,712.220.91~ 1,748,684,89' 1,764,935,928 1878. . ..... •936
Of whichIn Treasury ..... , ••........
n hands of people ........
228,704,886 183,284,9?4 159,QOS,165 134,252,049 1875...... .
827,716,559 1,528,985,948 1,588,781,729 1,610,688,874 1876...... .
l~it: ::::
( This includes trade dollar bullion held 1n the Treasury.
§ \11 tra.de dolla.r b11lllon has been converted into standard dollArs. 1881 ... -...
the -iolua.Je ha,vin_g been completetl Deo ~2, 1 91.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
11882..... ..
:~~~
·896
·887
·~70
·941
··792
·902
·839
·988
·964
•8!:J4
·929
·891
1884..... ..
1885 ..... _.
181'j6..... ..
1887.......
lt:!88... ....
·H71
·847 ·797
·755
·839
·794
·7U
·733
·706
·8t>l
·823
·769
·758
·727
·745
·6-19
·675
•79i}
::~~
:~~i
rn~t::::: :i~: :~i~ :~~i
·862
·P81 1891.. ..... ·826
·7'it7
·7R4
·84:?'
·878 1892 (e. t.J.
80
MONEY
MARKET.
QUOTATIONS FOR CALL LOANS AND COMMERCIAL PAPER.
(Quotations are compiled from the range of prices each week in the N ~ York money market.)
18~9
188:J.
Weekending
Friday.
Call
Loans.
J an. 9 .•••••••
16 .••••••.
" 23
" 30•••••••.
••••••••
"
F eb. 6 ••••••••
13 .••••••.
••••••••
" 20
27 ••••••••
6 •••••••.
!loh.
, 13 ••••••••
•••••••.
" 20
" 27 .••••••.
A prll 3 ....••..
10 •.••••••
" 17
" 24 ••••••••
••••••••
"
May 1 ••••••••
" 158 .•••••••
••.•••••
" 22 .•••••••
29
" ••.•••••
J une 5 ••••••••
] 2 ••.•••••
••••••••
' 19
26 .•••••••
"
J uly 3 .•••••••
1
¼@
¼@
a
lg@
lg'@
¼ '@
1 @
1 'ii)
1 'ii)
1 '€6
.
.
.
¼@
111@
lg@
¼@
½!@
1
1
1
.
1
1
..
1
1
@
'ii)
@
1g,i
½i@
'ii)
'W
¼@
¼@
'ii)
'm
Week: ending
Friday.
Prime
Paper.
l¼ 4¼@5¼ July 10 .•••••••
4 @5½1
2
" 17 ••••••••
2
24 ••••••••
4 @5
31 .•.••••.
l¼ 4 @5
Aug. 7 ..•••••.
1¼ 4 @5
2
4 '(i5
" 14 ........
4 @5
2
.•••••••
" 21
4 @5
28 ........
3
"
4 @5
2
Sept. 4 .•.•.••.
11 ........
4 @5
2
..•••••.
1111 4 @5
" 18
25.
4 @5
2
"
312'@5
2
Oot. 2 .. ::::::
Ilg 3½!'@41.g
" 169 ...••••.
31g 3lg@-!lg
" 2<> .••..••.
11g ,llg@4½J
....••••
"
11g 3 1~@4
" 30 ..•••••
Nov. 6 ....•••.
l¼ 312@4
11g 3lgai4
" 13 ..•..••.
314(1/4
4
20 ..•..••.
" 27
..•••••.
3¼<i>4
119
"
314'@4
Dec. 4 .•..•••.
2
11g 314@4
" 11
.• ·••••·
18 .•••••••
1'11 3 @4
" 25
Ilg 3 @4
........
3 '@t
2
" 3t.. ···••·
.,
"
..
.
I!ilS6.
Wt:ekeudiug
Friday.
UHIL
Loaus.
l'ri1ue
I Pa.per.
-- - - - - -l -@-5 - 4 w5
Jan. 8........
" 15........
" 22.. .. .•..
" 29. ... ....
Feb. 5.. .. ....
'' 12 ........
.. 19.. ......
" 26........
Moh. 5.... ....
.. 12 ........
" 11-)........
" 26.. ......
A.nril 2 ......
9.. ......
"
" J 6.. .. ....
" 2 .i.... .. ..
" 30 ........
May 7 ........
" 14.... . ...
21..... .. .
1"
" 28 ........
June4 ........
" 11.. ......
" 18 ........
" 25........
July 2 ........
1 'al
1 'it
1 'al
1 @
1 '@
112@
112@
a
3
2
3
2
4
212
l½d> 4
1 @
112@
112@
11ia>
1 ·w
11'l1i)
1 ¼a>
l½'nl
1 @
l lg1i)
llga>
112 @
l¼a>
1 @
l 1o
1 @
1 @
2¼
4
4
5
3
212
4
4
5
3
212
7
3
7
6
3
9
312@5
312'@5
3lg@5
312@5
314@5
3 @414
3 @4i4
~ @-!¼
3 @412
3 1o412
3 @5
3lg'@5
3lga,5
3lg1J,);'i
3lg'@5
312@5
3-½@5
3½@.!½
312@4¼
3lg1;:4lg
d121o-1½!
.,¼'<1!4½
3¼1o4½?
314'@'1
3141o-1
\\t:tllit-udiug
Friday.
Call
Loans.
l
@
2
Prime
Paper.
@4
3
12@ 119 2=\@414
lg'!) 2
1
@
@
@
l
2
~
1
2
l @ 2
1 'ii) 2
l 'ii) l½I
l 'ii) 112
1 'ii) 1111
l 'ii) 3
1 'ii) a
1 'ii) 3
1 @ 2
I lg@ 3
1½!@ 4
1 @10
112@ 3111
2 '@ 4
1-½I'@ 4
2 '@ 3
1 'al 3
l½i@ 2¼
llg<i> 6
2 '@ 5
2llt@4.14
2~·m414
2~@4¼
2~@4111
3 @4111
3 @4¼
3 @4¼
l @4~
3 @41.g
3 @4½1
3 @4½
3 @4'½!
3 @4½!
4 @419
4 '(t41g
4 @4½1
4 @5
4. @.\
4. @5
4 @5
4 '@5
4 '@5
4 @5
4 @5
r- ·~Paper.
~
Loau
- -- - - - - - - - - - · -
July 9.. ...... 1 '@ 3
" rn........ 1 'a) 3
,, 23.. .. . ... l lg'@ 4
" 30. ....... 1¼1o 3
Aug. 6. .... ... 1 ½1o ti
" 13 ........ 2 '@' 0
1 " 20.... ..•. 3 @20
" 27.. .... .. 2 @ 8
Sept. 3 ........ 2 @ 8
10 ........ 1 1b 7
" 1, .. . ..... 4 1o10
" 24 ........ 3 @ 7
loot. 1. . ...... 4 @15
8 .. ...... 3 '<ii lO
"
15... ..... 2 1i) 7
" 22..... .. . 2 @ ~
" 29 .... ····1212@ 6
'Nov, 5 ........ 4. 'al ,
" 12 ........ 4 @ 612
" 19.. ... ... ,-, 1i> 7
" 26 ......•. 4.12@ 9
\Dec. 3 ......•. 15 @ 9
" 10.. ...... a ·a) 9
" 17 ........ 4-lO+¼p,<l..
" ~4........ 2 '<ii 8
.. 31........ 3 '@ 8
I ..
I ..
3¼'@4
314 7t4
314'@5
3¼'1v514
3½!'@514
-P-4 @0
5 @6
@n
5
5 '<ii6 lg
5121Vo¼
5¼·w6
51g1i)t:i
.')lg1iJ6
5½!@6
5¼@619
ti'
1ttilg
6 @ti¼
;'ilg'@ti lg
:i ½ti!612
5¼m6lg
,') @6¼
5 w6 12
512w619
5lga,6lg
6 @6lg
5 @612
I fi8?'.
Weei.:ending
Friday.
Call
Loans.
Prime
Paper.
WP.ek ending
l<'riday.
?
~
5 '@612 July 8 .•• ...•.
" 1 5 ........
5 @6
V
W
" 22 . . ... •..
5 '@6
1t 6
" 2P........
5 1o5¼
~¼@ 5
4¼@5¼ Aug. 5 ........
2 ¼~ 5
3 w 5
" 12. .... ...
4lg'@5
" 19 ........
112'cl) 4lg 4¼@5
" 20 ...... ..
-l¼'l:5
2 @ 5
-1¼@512 Sept. 2 .....•..
'2 ~ 7
2 w 7
9 ........
"
5 '@512
" 16.... ....
5 @6
3 @ 7
" 23 ........
5 @e
21g@ 8
" 30 .......
5 @6
a @ 9
5 @f. I Oct. 7 ........
3¼@15
•. l 4 .... . ...
5 @6
3 @ 9
,, 21. . ......
:'> @512
3 @ 6
" 28 ...... ..
5 @512
212'@ 7
5 'cl)5½ Nov. 4 ........
3 ·@ 8
" 11........
5 @512
3 @ 7
" hi........
5 @512
3 1li 6
" 25 .•.•....
4~@5½
3 'nl 8
4~w;-,12 Dec. 2 .•••....
4 @ 7
9.. ... . . .
"
4¼1o514
3 •Q) 5
" 16 ........
-1¼@514
2 ·@10
" 23 ........
3!l6~3ap d 4¼@fl½
" 30 ........
31o6+14p.d 5 @612
~
3
2
\'I t:tlli endillg'
Friday.
..
J a.n. 6 ...•.••.
13 ........
........
" 20
...•.••.
27
"
Feb. 3 ........
10 ........
17 .••..•• .
" 24 ........
Moh. 2 ........
9 ••...••.
••....•.
" 16
23 ... . ....
" 30
•••.•••.
"
........
April
., 136 ........
Call
Loans.
Prime
Paper.
Prime
Paper.
..
.
.. 9.:::::::
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
..
4
18 .... . ...
2
z
'@
'ii)
'it 3
@<½I
..
.
Wee.11:ending
Friday.
Prime
Paper.
5 @5lg
8
412 4¼@512
4
" 25 ..•.•... 112@ 212 4 'cl)5
@4¼
"
Feb. 1 .....•.. 112'@ 4
4 @41.g
@ 5
•....••.
8
2
" 15 .•...•.. l 'ii) 2¼ 4 @412
" 22 ......•. 11g'@ 2 i '(i4¼
-l @412
Moh. 1 ......•. llg@ 3
8 ... ... .. 1 'ii) 6
44 '@5
.. ... ... llg'@ 3
" 15
414'@5
........ 2 'iJ) 3
" 22
" 29 ... ..•.. 2 'Q) 6 -l14'cl)5
4 '@5
April 5 ........ 1¼@10
@ 5
4 @5
" J2 ........ ~ @
33,1,'@5
2
•.......
19
5
" 26 .....••. 112'@ 3 3~@414
"
a84@4.
May 3 ........ 2 'a) 4
" 10 ........ 1¼~ 3lg 31g@ ,t½
12a-4
l¼'@
........
17
212
" 24 ........ l¼'nl 3 33lg'@4
"
a1ga,414
31 .... .... 2 'a) 4
3 '@4½
June 7 .....••. 112-aJ 4
3 @4½
" 14 ......•. 2 'a! 3
3¼'@412
21. ....... 2 'ii) 4
llg?D
3¼@4"'1
6
" 28 ........ i
~ 4.0 per cent was paid Dec. 30.
Jan. 4 ........
" 11 ..•...•.
@4½1
.
.
Prime
Paper.
Call
Loans.
4 @5
3¼1b5
3¼@5
4 @5
4 'Q):)
4½a!5
-llg@5 34
4~'@6
4¾'@6
4lg'<ii5¾
514@5~
5 @5½
5 @5lg
5¼'@6¼°
5¼~6¼
n¼@6¼
512@612
5¼'ti612
5lg1i)61g
5lg11)612
5¼'@6lg
512@6¼
5lg-W6¼
6 'lb6¼
Kilg@6lg
!'>llt'@6lg
J~~y 5 .••..••. 2 'ii) 7
12 ........ 2¼·@ 6
19 .•....•. 212'@ 3¼
" 26
.....•.. 2 'a) 3
"
Aug. 2 ........ 2 'ii) 5
9 ......•. 2 'ii) 5
..
" 16 . ..... .. 2 @ 5
" 23 .....••. 3 'ii) 6
" 30 ........ 2 @ 6
Sept. 6 ........ 2 @ 6
" 13 ........ 2V@ 5
" 20 . ...... 3 'ii) 6
" 27 . . ...... 4, @10
Oct. 4 ..... .. . 3 @30
" 11 ........ 3 @12
........ 5 @H
" 18
" 25 ........ 3 @12
Nov. 1 ........ 4 @12
8 ........ 1 'ii) 7
........ 3 'a! 8
" 15
........ 1 @20
" 22
........ 3 @15
29
"
Dec. 6 .....••. 3 •(7) 15
........ 1 '@15
13
"
20 ........ 2 'ii) 8
" 27
....
5 @::io•
.
.
l8AO .
Prime
Prime Wk end'g l Call Loans.
WIIend•.~.1 Call Loans.
P_er_.
__
F1·iday ________ __P_a_p_e_r. Friday. j _ _ _ _~__ _P_a
1
1
5--2@6
5¾.W6¼ July 4 .. 1 2 @ 9
4 'cl)45
Jan. 3
512~6
" ll.. 3 •dJ 8
5¾,i'o6¼
" 10 .... 2 @ 9
5 @5lg
" 18 .. 2 'a> 6
5¼@6
2 @12
" 17
5 @5.ls
" 2f>.. 2½!'11> 6
5 '@6
" 24.. 3 @ 6
ci 1i) , lg
5 @5lg A.ug. 1.. 2 @ 6
" 31. . 212@ 7
5 @519
8.. 3 @20
"
5 @5½!
Feb. 7 .. 2½!'@ 6
5 @5lg
" 15 .. 3 @25
5 @512
" 14.. 3 'iii 4¼
" 22 .. 3 @ 6 &¼pd. 6 @6½
5 '(i5¼
" 21.. 2 @ 5
H @6lg
" 29 .. 2 @15
5 @512
'' 28 .. 2 @10
6 @6½
5 @512 Sept. 5 .. 3 @12
Moh. 7 .. 2 1d) 6
" 12. . 3 '@ 6 &¼ p.d. 6 '@6l.ii
5 1o512
•• 14.. ;-i @ 512
" 19 .. 2 @ 6 &14 p.d. 16 '@7
5 @512
" 21.. 3 @ fl
R @6lg
2 @ 6
5~ I " 2d
" 29.. 212'<1! 5
6 @6½
Oct. 3.. 2 @ 6
512'@6
April 4.. 312@ 8
6 @612
" 10 .. 21g1i) 7
5¼@6
" 11. . 2 @ 7
@6lg
" 17 .. 21g@ 6
5¼'@6
,. 18 . . 2 @ 6
6 '@6¼
" 24.. 3 @ 8
5lg'@6
" 25.. ~lg'@ 9
" 3l.. ~ ?~~
n¼'<1J6
May 2 .. 312@ 8
w
Nov. 7 ..
512@6
9 .. 4 @ll
"
1512a-6
" H.. 212@ 6 &¼ p.d. 6 @7
" 16 .. 2 @15
" 21.. 2 1il 6 &¼ p.d. 7 @8
i'l¼1o6
" 23 .. 3 @lO
I " 30 .. 2¼·@10
17 '@8
" 28 .. 2 '@ ~
5lga,6
7 @9
Dec. 5 . 3 @15
5½1'<1!6
Ju11e 6 .. 4 @12
" 12 .. 2 '@ 6 d.lgp.d. 7 @9
-'> @5½
•• 13 .. a @ 7
I • • 20.. 3 @ 6
1R¼W8
" 19 .. 2 ·m 6
5¼'1v6
_ _6 _ _ _ _6_ ¼_'@_7_111_
_ "_2_6_._._;{_@
512@1>
" 27.. 3 @ 10
i
16
i !~
,J
Call
Lo,Lns . ..t-
Prilllt,
Pa.per.
'ii)
1 ·d>
1 'Q)
1 '@
1 1li
1 1li
1 'Q)
llg'cl)
l>.;@
llg'ZzJ
11:t'@
2 'ii)
l¼'<i>
112w
~
'a!
1 lg'@
112@
l¼a>
llga>
llgi'o
'cl)
2 1li
•@
2
2 '@
2 'ii)
3 @
2
2
112
112
112
212
2
2
4
4
4
4
5
5
3
2¼
212
212
3
4
4
4
6
6
8
I Prime
Call
I Week ending
Paper.
Loans.
Friday.
- - - - - - - - - - - - - - - - - - - - - -1--.Wees.: ending
Friday.
Call
Loans.
Jan. ? .. ...... 3 @ 9
•• 9 ....... . 212'<-D H
" 16 ...•••• . :1- @ 6
" 23.. .••••. 2 'it 5
" 30........ Ilg·@ 5
Feb. 6.. .. . . . . 2 @ 4
" 13........ l½l@ 4
" 20.. ...... 2 @ 3
" 27 ........ 2 @ 4
Moh. 6.. •••••. 1 1JJ 4
" 13.. .•.... 2 tii) 4.
" 20 . .. .. ... 2 '@ 4.
" 27 .......• Z @ 4
April 3.. ... ... llg'@ 4
" 10 •..•.•.. 2 'al 4
" 17 .......• 2 @ 6
" 24........ 3 @ 5
May 1. ....... 212@ 9
8.. ...•.. a w 6
"
" l:'>........ 212-W 7
' " 22.. ...... 3 'Q) ~
" 29.. .••••. 2½@ 6
June 5.. .••••. 212·@ 5
•• 12 ...••••. 2 a> 5
• 19 ........ 1 'Q) 4
1 1D 3
" 2o.. .....
-------- ----2
1
3 @412
...
.
3 @10
a '@ 6
2 @ 5
3 @ 6
3~@ 6
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3 1li 7
3 'Q,I 7
3 1v 7
4 @ 7
3 '@ 6
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212@ 5
3 @ 6
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3 'al 7
3 'ii! 6
3 1i) 7
2 @ 7
4 'Q) 6
4 '@ 5
4 @ 6
4 @ 7
\\ CtlK t:1ndiug
Friday.
5½!@6lg July 6 .•• .... .
3 'ii) 6
....•..
512@6
3 '@ 5
.," 120.-L.•......
3 'it 412 5½@6
........
27
4¾@512
1 'Q) 4
"
Aug. 3 . .....•.
2 'a) 3¼
4'11>5½1
" 10 ........
-'½@5
2 @ 3
2 @ 3
" 17 ........
4¼a>J
2 'Q) 2¼ -l12 ,t5
" 24 ........
" ZL .........
2 @ 5
~¾1115 '4
4¾@512 ' Sept. 7 ........
2 'ii) a
4 12'@;';12
14 ........
2 @ 3
4-½,'@6
l¼d> 3
" 21. .. ....
5 '@6 I " 28 ......
119w 6
:)
llg@ h
@t: I Oct. 5 ........
1¼@ 3
" 12 .... ... .
5 @6
......•.
20 . ....... 112@ 3
5 @6
" 19
" 27
112@
4~1.il5lg
4
••
.
•..•
" 2<> ••••••••
"
4¾@512 Nov. 2
May 4 . ....... l¼a> 3
4~@5½
" 11 ........ l¼ii 3
......••
412@ 5 14
........ l @ 2
" 16
" 18
@5
" 23 ...•..•.
" 25 .•••.••. l 'ii! 2 4·t '(J)
.'-.
...•.••.
30
June 1. ....... 1 @ :.:l
"
Dec. 7 ........
1 •@ 2
-l '@5
.," 158 ........
t @5
........ l @ 2
" 14 .........
@
21 ...•..•
3¼W4½
2
22 ........ 1
,," 28
@ 2
3½@4½,
...•..•.
1
.••..••.
29
- - - ·-- --"
• Decemb~ 31 call loans reached 10 ver cent.
Call
-Loans.
U9l.
Call ~
Loans.
1- - - - - 1
Jan. 7 ........
•· 14.••• ••••
" 21.. .. . .. .
" 28.. ......
Feb. 4 ........
•• 11..... .• .
" 18....... .
•• 25.... ..•.
Moh. 4 ........
" 11.. ····· ·
" 18... .....
" 25 ........
April 1. .......
8 ........
"
" J 5.. .. . . ..
" 22 ........
" 29.. .. . ..
May 6....... .
" 13...... ..
" 20.. .. . . ..
" 27 ......•.
June 3 ........
" 10.. .. . . ..
" 17 ........
" 24 ........
July 1. .......
Weekending
Friday.
:i½Q/412
'@412
•@4.½!
'Q) ~ 1g
@4½
-1 @412
-i @b
-l, @5
4½w5¼
41g'@ti
5 'a/6
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412 a 514
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412@514
4¼@5½
n '@5~
4
4
i
"'
Prime
Paper.
1
July 3.. ......
" 10 ........
" 17 ........
" 24.. .... ..
" 31.. .••••
Aug. 7. . •••••
'' 14....... .
" 21........
" 28 ........
Sept. 4.. ....
" 11 . .. .. .. .
" 18 ........
" 25 . . . .....
Oct. 2.. ......
9.......
"
" 16.. .. .••
" 23... . ....
" 30.. ... .
INov. 6.... ....
" 13.......
" 20.... . .• .
5¼a6
" 27 .......
512'@6
Dec. 4.. ......
;ilg'@6
" 11 .....••.
512'@6
18 ......•.
;,½!a6½
" Z5 ........
5½1zi6l,i
6½@712
6 @7
6 @7
6 @7
5½!@612
5 @5½
fl ~512
5 @512
5 '@5~
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5 @512
5 @512
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fi¼1ofl
5-½!'ii!6
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l .,
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l¼w 3
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3 @15
3 @ 7
a 1o 5
21g1i) 4lg
2 1li 6
2 •a) 312
2 •@ 3
2 'iiJ 412
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5lg@o
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Call
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Paper.
~
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.>
5
5
1892
Weelr ending
Friday.
Jan. 8 ....... .
" 15 ..• ..•.•
" 22 ••.••••.
" 29 ....... .
Feb. 5 ....... .
" 12:•.•.••.
" 19 ....... .
" ~6 ••.•••••
Moh. 4 .•.•••• .
" 11 ....... .
" 11:! •• •.... •
" 25 ....... .
April 1. ...... .
.. 8 ...••.••
" 15 ...... ..
" 22 .....••.
" 29 ..•..••.
May 6 ...•••••
" 13 ....••••
" 20 .•••••••
" 27 .•...•.•
June 3 ••.•••••
•• 10 ...••••.
"' 1.7 .•.•••••
" 24 ....... .
Jnl.v 1. ...... .
Call
Loans.
Prime
Paper.
4¼@514
4¼@514
4 '@4¼
3¼@4lg
3½@41.g
3½'(i4
3~'cl)4lg
4 '@4.ls
4 '@5
4 '@5
4 @5
i @5
3&&1o41g
3-½1@4
3lg1i)4
~
312@4½
2
314@4½
2
314<t4¼
2
3 @~
2
11;4
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2
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1 '<1J
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1 @
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212
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2
2
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2
2
2
2
2
Week ending
Friday.
July 8 ....... .
" 15 ...... ..
" 22 ....... .
" 29 ....... ,
Aug. 5 ...... .
" 12 ...••••.
" 11:) ...•••••
" 26 ....... .
Sept. 2.. . .. .
9 .....••.
"
" 16 ....... .
" 23.
" 30 .. ··-···
Oct. 7 ......•.
" 14 ..••.••.
" 21. ......
" 28 ..•.•••.
Nov. 4 ...•.••.
" 11. .••.••.
" 18 ....... .
" 25 ..•••••.
Dec. 2 .....••.
9 ......•.
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" 16 ....•••.
23 .. ····•·
"
" 30 .....•..
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3 @40
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- - - - --
MOVEMENTS OF GOLD AND SILVER.
U JITED
TATES
A D
EUROPE.
Mint, say-s on this subject, for when his estimate is
THE WORLD'S GOLD AND SILVER PHOD 0- issued it will be accepted as conclusive. In a letter
directed to us under date of January 27 he states that
TION FROM 18 71 to 1892 ·
In accordance with our annual custom we present although he will not have sufficient data to make an
here the latest information we have been able to intelligent estimate until after the 15th of February,
gather relating to the supply of gold and silver from yet "so far as my knowledge of the producing proper18 1 to 1892. Sufficient returns are not obtainable as ties enables me to form a judgment, it would seem as
yet to indicate the world's product for the past year. if the product had fallen off in every section of the
Some interesting facts relating to the output of certain United States except Colorado; whether the product in
countries during the year, and so bearing upon the Colorado has been sufficiently large during 1892 to offquestion of total production, have been disclosed which set the reduction elsewhere I do not yet know." He
are useful. We have put them into such shape as to further adds he is "satisfied that for the last few
best ~ndicate not only pre:;;ent results but ~resent t?n- months the product of silver in the Unite~ Stat~s has
1
denmes as to current development. Later mformat10n I been reduced/' but how far this reduction w11l be
may not fully support these indications. The reader shown in the aggregate for the year (1892) now being
will, as we proceed, be able to judge of the worth of made up he is not prepared to say. This declaration
the conclusions hinted at, which are of course not final of Mr. Leech seems to be conclusive with reference to
but only tentative. We will first present the more a loss in total product, if the rate the la.st few months
were taken as the rate for the whole twelve monthsrecent information obtained with reference to silver.
that is to say, current pr~duction no doubt shows a
SILVER PRODUCTION IN THE WORLD.
There is one deduction the facts at hand for 1892 loss; furthermore, in every State except Colorado (and
seem to favor, which, if it should prove correct, is as to Colorado no opinion is given), there has presumahighly important. The deduction referred to is that bly been a diminished output for the whole of the
the price of silver has dropped low enough to affect the calendar year 1892.
Turning now to Mr. Valentine's estimate we find
yield. We can hardly over-estimate ihe significance of
he gives the product in 18&2 at $50,607,601
that
only
the
is
it
for
reached,
is
it
that condition whenever
test of the cost of production that is worth much. against $60,614,004 in 1891. These, as we stated two
This last year too, it should be remembered, is weeks ago, are commercial values. The average price
memorable for the development of the new and famous of silver given by the London authorities, Pixley &
silver camp of Creede in Colorado. It was in 1891 Abell, was 39 13-16d. in 1892 and 45 1-16d. in 1891 ;
that the discoveries there first attracted attention, and consequently those figures represent a product of
since 1892 began the yield has been almost phenomenal. 61,350,206 ounces in 1891, against 57,989,690 ounces in
If then there has been a decrease in the silver output of 1892-that is, instead of a gain, as in all recent previous
the United States in 1892 (against the large increarn years,alossisrecordedin1892ofabout3¼millionounces.
heretofore in progress), or even a check in the increase, in Of course Mr. Valentine's figures for neither year agree
face of this new development at Creede-which we must with the Mint Bureau's. Mr. Valentine does not claim
also bear in mind is only a temporary dependence, for if that his results are anything more than approximate
· experience teaches anything it ~annot long be counted estimates. Still, when succeeding years are compared
on as a source of large production at low cost-such a with one another we seem to be warranted in assuming
decrease or check is, we repeat, an extremely significant that they indicate the relative situation; and when
circumstance and marks a new epoch in silver mining Mr. Leech, basing his judgment upon the information
in the United States. But let us look at this matter he already has, takes a view somewhat similar to Mr.
Valentine's, there appeis to be fair reason for the premore in detail.
UNITED ST.A.TEs.-Several authorities make up figures sumption. We say Mr. Leech's view is similar, for be
of the production of the precious metals in this coun- states that so far as the knowledge he at present has
try. This year all agree in favoring the inference that permits a judgment, he believes there has been a falling
no increase has been obtained the past year in the off in the product in every State except Colorado, and
amount of silver mined, but that possibly a decrease of that State he does not as yet speak.
Then, too, notice the contrast compared with previous
will be found when the official estimate is made up.
Two weeks ago we referred to Mr. Valentine's figures, years and the special teaching which the fact last menand we shall refer to them again shortly. But first we tioned presents-that all the States other than Colorado
wish to give what Mr. E. 0. Leech, the director of the will, as Mr. Leech thinks, show a loss in yield in 1892,
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
I
:2
MOVEMEN'IS
OF
GO.LD
.AND
SIL V-ER.
'rhe contrast can be briefly and therefore most strik- from the semi-annual statements issued by the comingly shown by taking the Mint Bureau's figures of the pany.
production in the nited States for the last two years
SIL V ER Pnooucr Ol!' ·. tn E BROKEN nrL~J~oPRIETARY coMP.t:":r=age
and spjcifying singly only those States which have
Half-year toOre~:~:s~d.
Pro~~:::
f>~~e~:
produced a million ounces or more and grouping the 1886, November 25........ . .
10,397
871,665
83·83
.
d All th
,,
1887, June 2. . .. . ........ .. . .
18,411
83'1,526
4-5·38
others into a total d es1gnate "
o ers.
" Derember 1.......... ..
28,800
1,267,699
4A-ll
SILVER PRODUCTION IN THE UNITED STATES-CALE ND .\R YEARS.
1888, May 31................
39,789
1,633,737
41•06
Fine ounces.
Inc. in 1891 .
'' November 30. . ........
54,336
2,290,455
42·16
1890 .
189 1.
3 06
2 67 6 8 6
68 545
3
Arizona....... ......... .... 1,480,000
1,000,000
+480,000 1889
May 1. · ..30..........
··· ··· · ···· ·
•
Z•6 1 3
3W
" • November
88,639
:;,·3 2 o,
, ·5 2
Colorado ... ......... ... ... 21,160,000
1 8,800,000
+ 2,360,000 1890, May 3 1................
l03,399
3,855,331
37·29
Idaho .... ... ...... ... ..... 4,035,000
3,700,000
+335,000
" November 30 . .........
103,912
3,872,54.6
37·~7
Montana ... .. ...... ....... 16,350,000
1 5,750,000
+ 600,000 1891, May 28.............. ..
138,645
4,918,124
35 ·55
Nevada.. .... ...... .... .... 3,520,000
4,450,000
- 930,00ll
·• November 30. . ........
147,493
5,028,91-!
34,10
New Mexico... ....... .... . 1,325,000
1,300,000
+ 25,000 1892, May 30................
150,963
5,122,813
33·93
Utah......... . .... .. ..... .. 8 ,750,000
S,OOO,OOO
+ 7 50 ,000
" November 30........ . . _56,o-H
1,902,793
33·95
All others..... .. .......... 1,710,000
1,516,300
+ 193,700
Total, 6¼ years... . ...... 1,009,370
37,602,902
37·25
Total.. .... .... .. .. ... . 58,330,000
54,516,300
+ 3,813,100
It will be noted in the foregoing that the average
In the foregoing we have a gr~ph1c presentation of the yield of silver per ton has constantly decreased, and
silver-mining situation in the United States as it exist- that the aggregate production has only been kept up
ed prior to 1892. All these great producers were and added to by working over additional ore. Of
increasing their product; that was not only trne of the course the interpretation to be put upon that is, a conyears we give but had been true in previous years. stantly increased cost of the product. We do not
evada alone in 1891 had shown a falling off; indeed assume that the decline in silver has brought mining
the decline in the price of silver ha,d begun to shut up below the point of profit in this district. That apparits mines several years earlier, for evada's largest silver ently is not the fact. The only inference warranted is
production in recent years was in 1888, when the out- that when the output per ounce decreases as it has been
put was 5,414,0G2 ounces. From that total the de- doing in this case, and the price which the bullion
crease in the product of that State has been constant, brings in the market is decreasing also, the candle· is
being 4,800,000 ounces in 1889, and, as stated above, being burnt at both ends.
4,450,000 ounces in 1890 and 3,520,000 ounces in 1891.
MEx.rco, &c.-The full importance of the facts we
But all the other States have not only kept up but have been discussing affecting silver production, cannot
increased their production down to 1892. Now Mr. be determined until it is known what is to be the effect
Leech tells us that in 1892 there is a revolution, that of the current low price for bullion on mining in
every one of these States is expected to show a loss in Mexico, South American Republics, and in fact in all
the yield of silver except it may be Colorado, and if other silver-producing districts of the world. So far
that is found by later information to be an exception, as Mr. Valentine's figures go, there appears to have
it will be wholly owing to that special favoring circum- been a further increased yield of the Mexican mines of
stance, the rich discoveries at Creede.
2¾ million dollars (or say 2¼ million ounces) in 1892.
Do not the foregoing facts afford pretty conclusive Besides Mexico there are Bolivia, Chili and Pern
proof (1) that silver produ-0tion in the United States (together contributing about 18 million ounces a year),
has reached a point where the average mine in all the from no one of which is a report obtainable as yet, and
tates has become unproductive, and (2) does not that the figures when received are more or less uncertain
mean that under the present quotations for bullion our and unreliable. Moreover, in Mexico and in Central
contribution hereafter will be a declining factor in the and South America it is not natural that production
world's aggregate supply.
Of course, it is possible should be as quickly affected by the low price of
and even probable that there will be rich districts bullion as in America. Hence nothing can be preddiscovered and new veins struck in the future ; but icated on the last year's results in tho~e countries.
the silver-bearing sections have now been so searched But at the same time it is to be remembered that the
over by individuals, cut through by railroads, and forced United States has of late year3 been producing over 40
in their production by modern methods and appliances, per cent of the total silver product, and when the
it is reasonable · to anticipate that hereafter new dis• price of the product shall have touched so low a point
coveries will grow more and more infrequent, and new as to c1:1,use not only a check but a decrease in the out•
methods of mining and refining be a very temporary put of the mines of this country, silver must be nearresource for increased production.
ing its lowest value.
AusTRALLL-Of course as yet there are few other
SILVER PRODUCT IN THE WoRLD.~With these
countries that have furnished facts for 1892 which preliminary suggestions as to the development of a
permit any such examination as we have given above decreasing tendency in the aggregate output of the
to the United States production. But reports of special silver mines of the world, we bring forward our usual
mining sections sometimes afford useful and suggestive table of production. We present the results in a little
material. Recently Australia has been looked upon as different form from those of previous years, expressing
a possible large contributer to the world's annual sil- them first in ounces-giving the ounces of production
ver supply. What is called the Broken Hill Proprie- in the United States, Mexico, Australia and other
tary Company has been the origin and source of this countries in separate columns-and in a final column
expectation. Recent development there does not how- the values of the annual product stated in pound3
ever encourage the belief entertained. We refer sterling.
mainly to the fact of a reduced output of the mines of
SIL VEK.-woRLo' s PRooucrroN IN ouNcEs AND s'l'ERLtNG,
1
3
4
5
the company the past year.
That decrease probably
united
An other
Total
Fine
States.
:Mexico.* Australia, Countries, Total.
Values.
has been due largely to the strike which prevailed ounces.
Ou,ncea 1
uunces.
uwn,ces, Own.cu.
Ounces.
£t
1
the last half of the year. But we had in mind an- ~
~::::
other feature affecting the output, found in the re- 1813 ...•••...• 21,650,000 19,657,983 111,ss1 15,li6,49o 62,572,oo.1: 16,623,soo
· th
ll
d t f th
1874 .. ........ 28,8!9,ooo 19,6s1,98s
130,499 1s,522,s90 64,160,s12 11,0!5,795
por t s-tha t 1s, e sma er average pro uc o
e ore 181s .......... 24,518,ooo w,657,983 1os,48o 1s,522,s90 so.s02,ssa 1s,ss1,910
treated. This is brought out in the following, made up •Total •11- •1s.12{,262,24.s 98,289,915 ;01,112 75,732,452 29s,ss2,321 1s,aos,45a
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
;!:::::::::: :::::!;! ::::;:::
;!:;;g,•:; !;::S~:i!! ;;:~t~;~
MOVEMENTS
SIL VER.-WORLD'S PRODUCTION IN OUNCES AND
1.
United
States.
Ownces.
Fine
Ounces.
1876 ..........
1877 ..........
1878 ..........
1879 .........
18 0 ..........
30,009,000
30,783,000
34,,960,000
31,550,000
30,320,000
2
3
4,
All Other
Mexico.• Australia. Countries.
Ounces.
Ownces.
Ounces.
17,611,239
19,169,869
20,122,796
20,356,133
21,173,203
GOLD
OP
BTERLING.-(0011,.)
5
Total.
Ownces.
Total
Values.
£t
108,217
85,019
106,576
127,537
131,671
15,808,800
18,232,668
17,4,59,4,22
23,172,0iO
2!,8!4,863
63,537,256
68,270,556
72,6i8,79i
75,205,710
76,472,737
16,880,2!9
18,137,767
19,300,955
19,980,263
20,316,880
97,096
6i,655
116,012
H5,6H
839,749
2i,226,650
.27,592,4,15
29,5!0,M8
22,593,531
25,779,655
81,268,961
87,619,253
89,352,100
86,218,220
93,i!S,915
21,591,116
23,278,229
23,736,265
22,906,010
24,827,023
--- - - - - - - - - ---- --·562,020 99,517,793 356,135,053 9!,616,lH
Total '76-'80.157,622,000 98,i33,240
1881. ...••...•
1882 ........•.
1883 .........
1881 ..........
1885 ........
33,260,000
36,200,000
35,730,000
37,800,000
39,910,000
23,685,215
23,762,183
23,956,630
25,670,0i5
26,919,511
- - - - - - - - - - - ---- - - -
Total ' 1-'85.182,900,000 124,002,58i 1,263,156 129,741,799 437,007,539 116,338,6!3
1886 ...... ....
1887 .....•..•.
1888 ..........
1 9 ..........
1890 ..........
39,4'10,000
il,260,000
45,7 0,000
50,000,000
Si,500,000
27,637,312
28,017,287
28,262,071
32,979,770
33,623,0!9
1,053,963 27,379,873 95,511,178
3,18!,930 25,653,312 98,115,529
6,481,37! 27,173,470 107,696,915
9,150,235 32,069,77! 124,199,779
11,277,603 32,627,692 132,028,3!4
25,37i,9U
26,066,825
28,612,358
32,996,753
35,076,603
Total' 6-'90.230,980,000 150,519,519 31,148,105 14i,90!,121 557,551,745 U8,127,i53
1891. ......... 58,330,000 34c,838,3!8 13,000,000 34,667,55! H0,835,902 37,416,552
1892 .......... 58,000,000 37,066,382 10,000,000 3i,667,55i 139,733,936 37,123,643
* Figures are for years ending June 30.
t Value of£ in this table $!·8665.
The figures in the above table for 189.~ arc: of course
very incomplete, being chiefly estimated. For 1891
the total production in ounces will be seen to be very
nearly 141 million ounces, of which the mines of the
United States contributed a little over 41 per cent.
GOLD PRODUCTION IN THE WORLD.
38
SILVER.
A growth which brings the aggregate gold product
up from £122,140 in 1887 to £4,255,524 in 1892 and
places the South African production in 1892 only a
little behind the Russian, affords a very promising outlook. A conservative London authority thinks however that too hopeful a)iew should not be based on these
results. Much of the increased yield is claimed to be
due to such causes as the treatment of tailings, which
are being worked off by more efficient processes than
the companies until recently commanded. Furthermore, even now it is urged with the large general output recorded only comparatively few of the companies
are able to work at such a pro.fit as to enable th~m to
pay a dividend. At the same time as the country is
being developed and opened up by railway construction,
and as such enlarged results have been the product of
so short an effort, it would be surprising if coming
years did not afford substantial gains. It by no means follows that all investors will find their ventures profitable.
The ounces given in the above report of South
Africa's product are not fine ounces, as will be seen by
the accompanying values. We have in the following
expressed the same results in fine ounce3 on the basis of
the reported values, and have also a<lded an estimate each
corresponding year for the rest of Africa, made up
from the best sources of information open to us. It
will be noticed that according to this statement the
tohl fine ounces of gold produced in Africa in 1892
reached 1,126,818 against 1,168,611 fine ounces iu
Russia in 1891. Africa thns takes its position next to
Russia as a gold producer, furnishing a supply only
41,793 ounces short of that country's supply in 1891.
Turning now to the world's gold product, we find
the conspicuous feature to be a directly opposite
tendency to that which we have been noticing with
respect to the silver production. The silver mines
of the world, as we have seen, are probably in
the aggregate turning out to-day less silver than
they were a year ago. On the contrary, the gold
mines of the world are no doubt turning out
more gold than they were in January 1892. This
tendency in gold towards an increased production has
indeed beeu observable for a number of years back.
The lowest figures for gold were reached from 1881 to
1885, both years inclusive, 1882 showing the smallest
product. Beginning with 1886 there has been an improvement-not uniform year by year, but none the
less obvious. This increase was considerable in 1891,
but in 1892 it has been more decided. The reasons for
this growth cau best be stated by a short review of the
leading sources of supply.
SouTH AFRIC.A..-The large producers of gold other
than the United States have since 1851 been Australasia
and Russia, but latterly a new source, South Africa,
seems rapidly to have come to the front, taking
now a prominent position. Indeed in the calendar
year 1892 the total output of the South African
mines reached about 1,126,818 fine ounces, valued at
£4,786,489. The most of this came from the Johannesburg section (or the Witwatersrandt mines), the statistics for which are prepared by the Chamber of Mines,
the total from that section being 1,215,000 gross or
1,001,818 fine ounces, valued at £4,255,524. It was
only in 1887 that any important results were reached
from this new source of supply. In that year the production reported was only 34,897 gross ounces, valued
9,t £112,140. The progress since then has been uninterrupted. The following represents the annual output of South Africa for the six years, given by the
Chamber of Mines as the product of the Witwatersrandt mines, as already stated.
Oz.
South Af1·ica.
34,897
1887 /part year) ...... ·-··-·"'··-···············
1888 ........ .......... ·· -···-··· ······ ····-· ···· 230,917
1 89·--· · ·-······· ··················-· ·--·- · .... 383,544
1890·-···- ............ ·-··· ·-·· ............. ·--· 494,869
1891 .... .... ·-························-•········ 729,230
1892.-- . ...... ··-·-· ····-· ...... ···-·· ····-· . ... 1,215,864
122,140
808,210
1,3!2,4.0i
1,732,04i
2,552,333
4,255,524
Total ...•....•..•.•.•...•••.. , . ·• · ·- -. ...•. 8,089,829
10,812,652
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Federal Reserve Bank of St. Louis
..AND
£
AFRICA GOLD PRODUCTION-FINE OUNCES.
,-Witwatersrandh ,--Other---.
£
Otmces.
£
Ounces.
Year.
122. 140
1887 (part year).... 28,754
1888................. 190,266
1889................. 318,023
1890 ................. 407,750
1801............. . • . 600,8i!O
1892 ................. l,GOl,818
808,210 50,000
1,3-12,'101 50,CIOO
1,732,0H 100,000
2,552,333 100,000
4,255,52i 125,0UO
,----Total---..
£
Ounces.
2 ,751
212,390
240,268
366,023
212,390
507,750
421,780
700,880
424,780
530,965 1,126,818
122,H0
1,020,600
l,5M,79i
2,156,821
2,977,113
i,786,489
Total ............. 2,515,471 10,812,652 425,000 1,805,305 2,970,471 12,617,957
The foregoing record certainly suggests a future of
great promise. To fully appreciate this, it is necessary
to remember that the gold beds which are being worked
are not alluvial, but solid rock, that the golii-beariIJg
district bas been only recently and partially opened,
that now the country is being cut into by railroads, and
that capital is to.day eagerly seeking investment there.
AusTR.A.L.A.SI.A..-The Australasian Colonies have been
going through severe trials during the past two years.
So long as money could be borrowed freely labor was
well employed on public works and prices not only of
labor but of everything else continued to rise. Even
before the Baring crisis, the course of affairs in those
colonies began to be widely discussed, and their ability
to carry the burden of further loans questioned. Since
that crisis foreign borrowing in London has been more
difficult and the Australasian supply of new money has
been in considerable measure cut off. A consequence
of this change has been that work on public enterprises
such as bridges, rail ways, city improvements, etc., were
of necessity suspended, labor was thrown out of employment and industries were depressed. Idle labor
means a struggle for employment with lower wages all
around. Labor unions attempted to resist the declining tendency and st.rikes followed. A notable contest
of this kind was that in the Broken Hill silver mines,
which we have referred to above in speaking of the
silver production.
These conditions, however, do not appear to have
affected the aggregate of gold production. Indeed in
84-
MOVEMENTS
OF GOLfl kND
SIL VER.
1892, so far as our information goes, it seems that there us already referred to, writes on this point as follows has been an increase in the quantity reported, take the " In regard to the gold product I would say that there
colonies as a whole. An increase is the tendency dur- "is no indication of a falling off." He also expresses
ing late years; that is none the less true because in 1890 the opinion that the total will prove to be "about the
and 1891 there was a little loss after the large gain of the "same for 1892 as for 1891." . Mr. ~Leech's figures
previous two years. The Victoria product has declined will be issued some time before the close of the current
very nearly every twelve months since 1856, the date of month. We give below the Mint gold results for the
largest output. That colony has furnished two-third3 United States since 1878; we add a final column, in
of the gold product of Australasia and almost reached which will be found Mr. V t1lentine's figures for the
a production of three millions ounces in one year, and States and Territories west of the Missouri River for
yet the yield of its mines has now dropped below the same years.
UNITED STATES ESTIMATES OF PRODUCTION SINCE 1877.
600,000 ounces, and Queensland has become the largest
~--. ---Estimates of---------producer in Australia. A Royal Commission was
Mint Bureau.
Mr. Valentine.
Gold
production,
U.
S.
Fine
oz.
Value.
Value.
appointed in 1889 to investigate the causes of this
1 87 8 ............... - ...... 2,476,800
i51,200,ooo
$37,570,030
decline in production and to determine how the success 1879 ... ........... ·-·· · ·-·1,881,787
38,900,000
31,470,262
3G,000,000
32,559,067
of gold mining could be best promoted there. This 188 0 ................ ···-··1,741,500
1. .. . ············-·····1,678,612
34,700,000
30,653,959
commission made their report in 1891 containing a 11 88
882 ...................... 1,572,187
32,500,000
29,011,318
large number of recommendations. Of course it is too 1 88 3 ...................... 1,451,250
30,000,000
27,816,640
30,800,000
25,183.567
early yet to know what result, if any, will follow. The 1 884 . . ...... . ............. 1,489,950
1 885 .... . ........... ······1,538,325
31,800,000
26,393,756
opinion seems to be held that much of the loss is due 1 8 6 . .. . .... ······. ·······1,693,125
35,000,000
29,561,424
1 7 .... . . .... _.........•• 1,596,375
33,000,000
32,500,067
to special causes which can be corrected.
1 8 ····················-·l,604,8U
33,175,000
29,98 7,702
' As to Queensland all the facts point to an enla1'ged 1889 ... . . ....... ········-·1•587,000
32,800,0UO
32,527,661
32,1345,000
31,795,361
production for 1892. The yield in 1891 was a little 1890 ......... . .......... -.1,58 8,880
lt91. ........... · ······ .. . 1,604,84.0
33,175 ,000
31,6 ,5,118
less than the 1890, the result reaching only 561,641 1892
...................... ········-·
............
29,8!7,144
ounces against 610,587 ounces. But special developThe Mint estimates are now prepared with all possible
ments in the late year are believed, as we are informed, care. For the years prior to and including 1879 the
to hav·e brought up the product to very nearly if not trade unquestionably accepted Mr. Valentine as the
quite 750,000 ounces. If this proves correct it will be better authority; now, as he states in his reports every
a notable increase.
year, the result he gives is not accurate, its accuracy
Russu.-Oomparatively little information is obtain- being disturbed by unavoidable difficulties which did
able with reference to Russia's current production. not formerly exist, growing out of the multiplication of
That country is in amount the third producer of gold transportation lines. .As a consequence, beginning
in the world, and yet recently has been a large absorber with 1880 the Mint figures are the only reliance and
of gold from outside sources instead of adding to the no doubt are as near accuracy as can be attained in
public supply. We notice that Director Leech's Mint such a work.
report for 1892 (page 240) has some in.formation
GOLD PRODUCT IN THE WORLD.- ,The foregoing
obtained through the State Department, in which the facts with relation to the leading producers of gold,
stock of gold coin and bullion in the Imperial Bank of ham enabled us to add an e3timate for 1892 to our
Russia is reported on January 11892 at 483,713,268 table of the world's gold production since 1871. We
rubles, whereas in the Journal de St. Petersburg of the have changed the form of the table this year so as to
30th of October the same item is reported at 604,500,000 give the annual supply of the different producers in fine
rubles. Both of these statements obviously include ounces as well as a total yield for the year of all
the branches and indicate an increase of the gold hold- the producers, stated in pounds sterling.
ings in ten months of 120¾ million rubles, or $93,822,GOLD.-W0RLD'S PRODUCTION IN OUNCES AND STERLING,
United
Other
'l'otal
000. How this accumulation was secnred may be Fine
Australia. States. Russia. Countries. Total.
Vnlues.
conjectured from tbe movements of gold in 1891; tbe Ounces.
Ounces. Ownces.
Ounces. Ounces. Ounces.
£*
. . . .. . ... . ... 2,378,729 1,896,947 1,264,000
470,832 6,010,508 25,531,436
Mint report also gives the net import of gold coin a nd 1871.
1872 ..... . ........ . 2,150,417 1,856,661 1,215,000
470,832 5,692,910 24,182,343
bullion in 1891 at 5,590 poods, or say about 52 millio n 1873 .............. , 2,114,910 1,907,112 1,066,000 470,832 5,558,854 23,612,900
187! . . . . . .... . . . . . 1,993,460 1,870,973 1,068,000
470,832 5,403,265 22,951,989
dollars. In 1892 the movement of gold into Russia no 1875.. . .... . ... 1,895,615 1,944,030 1,050,500 470,832 5,360,977 22,772,358
doubt was materially larger and with the production Total 1871-75 . . 10,533,131 9,475,723 5,663,500 2,354,160 28,026,514 119,051,026
'Vould account for the increase in the stock of the 1876............... 1,668,082 2,086,009 1,081,778 470,832 5,300,701 22,541,804.
1877 .......... . .... 1,581,496 2,188,785 1,317,741
522,532 5,610,554 23,832,511
Imperial Bank. These statements explain much of 1878 .. . .. . ..... .. .. 1,407,564 1,896,947 1,354,500 525,071 5,18!,082 22,020,94.3
1879............... 1,425,872 1,617,269 1,385,900
607,510 5,036,551 21,394,261
the urgency in the European demand for gold during 1880... . ........... 1.443,898 1,741,500 1,39l,260 634,508 5,211,166 22,135,991
---- --- --the past two years.
Total 1876-80 .. 7,526,912 9,530,51<1 6,531,179 2,760,453 26,349,054 111,925,51
No material change in the production of gold in 1881.. . ............ 1,475,161 1,678,612 1,181,853 641,354 4,976,080 21,141,215
.. . ............ 1,438,067 1,572,187 1,154,613
660,927 4,825,79-! 20,499,008
Russia is observable if we collect the a'llnual aggregates 11&323........
. . . . . . . 1,333,8!9 1,451,250 1,132,219
942,18! 4,859,502 20,642,192
into periods of several years. There is a moder ate vari- 188!............... 1,352,761 1,489,950 1,055,642 1,00!,536 4,902,889 20,826,492
1885.. . . .. . ....... 1,309,804, 1,538,325 1,225,738
928,717 5,002,58! 21,249,976
ation in the totals when one twelve •months is com·
Total 1880-85 . . 6,909,642 7,730,324 5,750,005 4,177,718 24,567,749 104,,358,~3
pared with a succeeding twelve-months, but when they 1886.. ....... . ..... 1,257,670 1,693,125 922,226 1,171,342 5,044,363 21,427,445
a.re added into five-year periods and an annual average 1&37............... 1,290,202 1,596,375 971,656 1,203,257 5,061,400 21,500,197
lSSS............•.. 1,344,002 1,604o,8U 1,030,151 1,196,629 5,175,623 21,985,011
obtained, the comparison shows no growth since 1871 1889..... .. .. . . • . . 1,540,607 1,587,000 1,154,076 1,629,562 5,911,245 25,109,786
and only a moderate increase during the period from 1890............... 1,453,172 1,588,880 1,232,408 1,563,257 5,837,717 24,797,454
Total 1886-90. 6,885,653 8,070,221 5,310,517 6,764,04,7 27,030,438 114,819,893
1871 to 1875.
.
b
l d fi 1891. .............. 1,410,585 1,604o,84o 1,108,111 1,811,153 o.o.35,189 25,121.232
UNITED STATEs.-We h ave not h mg a solute y e - 18a2.. . ............ 1,550,000 1,050,000 1,168,011 2,241,000 6,015,611 28,101,792
nite with regard to the United States production in •va1ueof£inthistableis$4'8665.
1892. Mr. Valentine's report makes the gold figures
It will be noticed that according to the above estifor the States and Territories west of the Mi souri ·mates for 1892 the year's product is likely to reach
River $29,847,444, against $3],685,118 in 1891. about £28,000.,000, the exact figures given being
Mr. Leech, the Director of the Mint, in the letter to £28,101,792,
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Federal Reserve Bank of St. Louis
EXCHANGE .
FOREIGN
PRICES, 1880-1892.
During the year 1892 rates of foreign exchange ruled high in New York. After the month of January
there was no month of the year except October when bankers' posted rates for demand sterling bills did not go
as high as $4 89, although actual business was done as usual at lower figures. The exports of merchandise in the
first six months of the year exceeded imports by about $48,000,000, but still there was a net export of more than
35½ million s gold, while in the last six months of the year the net exports of gold amounted to over 23,000,000
a sum quite unusual for the last half of the year. The small amount of commercial bills off riug against shipments of cotton and produce and the continued heavy imports of merchandise were the chief causes for the
relatively high rates of excharge. In fact the forejgn trade movement in the last six months of 1892 was quite
extraordinary; our exports reached only 459 million dollars, against 551 million dollars in the corresponding
half-year of 1891, a decrease of 92 million dollars. The imports on the other hand increased in each month,
aggregating 444 million dollars for the six months of 1892, against only 395 million dollars for the six months
of 1891. As a result of these two movements-diminishing export values and increasing imports-the balance
in favor of the 1Jnited States on the merchandise trade was only 14,796,502 for the half-year in 1892 against
155,450,274 for the half-year in 1891. This change during the last six months was reflected in the results for
the full year, and hence it is that for 1892 there was an excess of exports of only 62 million dollars against an
excess in 1891 of 142 million doilars. Throughout the Jear it was tolerably evident that the apprehension of a
silver basis in the United States prevented any liberal invt stment of foreign money in our securities, and this
led to the drain of gold in settlement of our foreign balances.
The methods of quoting sterling exchange have varied widely in the past, and a glance at the changes which
have occurred is somewhat interesting. In the early history of the country the pound , sterling was valued at
!1)4 44 4-9, baced on the worth of the Spanish dollar, t hen current here, as a standard. Exchange was then quoted
at its real value, the dollar being worth almost exactly 4s. 6d. E nglish money. From 1792 to 1834 our gold coin
was of the same standard as the pound sterling- viz., 22 carats, or 916¼ parts in 1,000; and at i ts legal weig ht
of 27 grains t he dollar was wor th about 97¼ cents, and the pound sterling in our money about $± 56½. In 1834
there was a material reduction in the value of our gold coin, so that the dollar was worth only about 91¼ cents
and -the pound sterling about $4 87. In 1837 another slight change made the dollar worth intrinsically about
91¼ cents and the pound $4 86¼- In 1834 the Custom House valu ation of the sovereign was put at $4: 84, and
so remained till January 1, 1874. During the ch anges from 1834 to January 1, 1874, the London Stock
Exchange conti nued to reckon the dollar at 4s. 6d. (abou t 9 to 9½ per cent too high), involving the prac tice of .
quoting . A.merican securities about 8§- per cent below their actual value. '110 correspond with the English cus tom,
bankers in ... ew York from 1834 to 1874: quoted ster ling exchange a t 109·45¾ as par.
By the law of Congress of March 3, 1873, t he Custom Hou 'e valuation of the pound sterling was placed at
its true value of $4·8665, and from J anuary 1, 1874, sterling exchan ge has been quo ted 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 valued the dollar ::tt 4s., or abou t 97¼ cent s. This valuation, being 2¼ cen ts below par, is
equal to a quotable premium of about 2¾ per cen t, and accordingly the presen t London quotatio ns of A merican
securities are about 2¾ per cent above their actual val ue-a bond worth 100 here being quoted there at 102¾,
USO.
Da.y
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F ebnrnry.
March .
60d. Sight. 60 d . Sigh t . 60 d . :,igh t .
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Federal Reserve Bank of St. Louis
4.86
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4. 3½4.85½ 4. 2½4.84~
s.
4.82½ 4.841 .,
~>:,
4.86~!? 4.89
4.82½4.!¼½
4.83 4.85
s.
4.88½4.89
4.83 4.85
4.82½4.84½
4.86~4. 9
4 .8,'l 4.85
4.8Hl~ 4. 9
4.82½ 4 .R4~~
4.82 -1.84
4.86 4. ½
4.82 4.84
4,S6 4. ½ 4.8.1 4.85
s.
4.82 4.84
4.'"3 4.R5
4.83 4.85
4.83}6 4.88
4.82 4.84
4.85 4.87¼ 4 83 4.85
s.
4.85 4.87½ 4.83 4.85
4.82 4.84
.
·· ··· · 4.83 4.85 4.82 4.84
4.90
4.90
4.90
4.90
4.90
4. 7
4.87
4.87
4.87
4.87
4.85
4. 5
4.85
s.
s.
t,:~::n8'J l~½t,~
f1~!:~t
t~·-:it
s.
.... .
4.89
4. 7 4 .90
4.87
4. 7¼ 4..85¼ 4.88¼ 4.85
,
4.85
4.00
4.87¼ 4.83
4. 7½ 4.83
4.85
4.82
4.85
4.84
4.82
4. ~
4. 2
4.82
4. 2
4.82
4.82
4.82
4.82
4.82
4.8-!
4.84
4. 4
4.84
4.81¼ 4.84,
4.81½ 4.8-!
s.
4.81½ 4.84
4.81¾ 4.8-!
4.84
4.81½ 4.84
4.8g2 4.84
4.84
4 .8-!¼ 4 .81~ 4.84
. 4.81½ 4.84
s.
t~~
'1.84,½
s.
s.
4.81½ 4.84
4.82 4.8!½
4.84¾ 4.82 4.84½
4.~4~2 4.82½ 4.85
4.84½ 4.82½4.85
7.84¾ 4.82,½4. 5
s.
4.84¾
4.84½ 4.82 4.~
4. 2 4.84
s.
4.82 4.841/4 4.82 4.84¾
4. 2 4.84¼ 4.82 4.84½
4. 2 4.84),g
4.82 4.84½ t~~~t~
4.82 4.84½
s.
4.82 4.8-!½ 4.82 4.84½
4.82¼ 4. 5
s.
4.82 4.84½ 4.82½ 4.85
4.82 4.84¼
4.81½ 4.84
4.82 4.84
4.81½ 4.84
4. 2
4 .82
4. 2
4.82
4. 2
4. 2
...... ......
4.82 4.84½
4.81,½4,84
H~
ti
s.
1g~1:~
4.82 4.84¼
Holiday.
4.82 4.84~
4.82 4.84
4 82 4.84
4.82 4.84
s.
4.79!,i 4.8~
4.80 4.8
4.80 4.8fil:
4. 0 4.8
s.
H&~!:~~¼
4.i9½ 4.82
4.81!,,;4.83½
4.81½ 4 ,83½ 4.79½ 4.82¼
4.81~ 4.83½ 4.79½ 4.82¼
4.811,, 4.83½ 4.79!-2 4 .82¼
4.8 1½4 .83½
s.
4.8 1½ 4.83½ 4.79 4.82
4.79 4.82
4.81½4.SS?li 4.79 4.82
4.81½ 4.83½ 4.71) 4.82
4. l 4.83
4.79½ 4.
4.81 4.83
4.79½ 4.8
4. 1½4.83½
4 .81½ 4.83½ 4 0 4.Sf
4. 0 4.~
4.81½4.83½ 4. 0 4 .83
4.81 4.83
4..8Q½ 4.83¼
4 .81 4.83
4.80½,4.83½
Huli day.
H ol~~ay.
4.81 4.83
4.81 4.83
4.80~ 4-SS¼
4 . l 4.84
s.
4.80½ 4.82~ 4. l 4.134
4.79½ 4.811 4.81~~4-~
4.81¼4.84¼
s.
'fJ
s.
······ ......
4.82 4..84~ 4.81¼tfflj
4.793'4.81 · 4.'19
36
JiOREIGN
EXOH.A NOB:
HStSL-At t,he uvening of tne year rates of excnauge we1·e unusually low, and :tfter stiffening up in .February we~ ·e,
quite demoralized after the ~5th of that month by the flurry in the money market. After the middle of April rates became
firm a.nd so remained till August, when there was another decline t() low prices, which lasted without substantial recovery till
the end of the year. 'l'he excess of imports over exports of specie for the twelve months ending November 30 was $62,986,036
against $59,342,990 in 1879-80; but for the five months, July-November, 1881, the excess of imports was only $24,408 228:
aga1ust $52,593,842 in 1880. In January, 1881, an attempt was made by some of the principal drawers of exchange to ;lter
the method of quoting sterling billH to the per cent basis-thus, the price of 98 for a bill meaning 98-100 of the face value.
reduced to dollars at the legal valuation of 4·8665 to the pound. This plan, however, Wab" found-unpopular, and was soon
~band on ed.
1882.-The general prosperity of the three years endi~g with 1881 had stimulated the importation of foreign merchandise
while on the other hand the small crop of 1881 left the Umted States a smalJ surplus for export. The natural result followed
and in March, ]882, prime bankers' sterling bills were quoted at 4 89½@4 9072 (posted rates), and in the half-year ending
June 30 about $33,500,000 of gold and silver was exported! while in the correspondh1g period of 1881 about $23,000,000
imported. In the lat.ter part of the year the aspect materially changed, more from the very large exports of cotton than from
any other single cause, and during the last three months of 1882 the United States was a receiver of specie from foreign
countries in moderate amounts.
188~.-The imports or merchandise into the United States in 1883 fell 0ff very materially as C6mpared with the previous
~ear, while the exports of merchandise, particularly in the first six months, were considerably in excess of 1882. As a
consequence of this movement, it resulted that the balance difference in favor of this countrv was about $100,000,000 better
than in the previous year, The rates for bankers' bills were strong in May, June and July. After July, rates. weakened,
and there was for a time a moderate import of gold; but this soon fell off, and in the late months of the year there was no
feature of importance.
was
1881.
Day
of
¥~~: 6°a%u~flt. ~o8g- ~i~t. ~o8g½~t~t. ~o81½~~t.
4 81½ 4 84
4 80½ 4 83
4 83 4 86
s.
2 ...
!~~ 481i484
n1
!~i½!t~ !~ ag
l···
481 483,½ 481½484
5:::: 480 482½ 4 3 486
: ! ~~: ~
L
8.... 4 80½ 4 83
4 83
4 83
4 83
d.
9 . ..
10... 4 80 4 82½ 4 83
11.. . 4 O½ 4 83½ 4 83
12 . . . 4 O½ 4 84 -4 83
½L:
4 86
4 85
4 86
4 e6
4 86
4 86
4
4
4
4
4
4
8
!~~~it½ 483½ 486½
15 .... 481½484½ 484 487
4 84 4 s1
s.
16 . . .
17 .•.. 481½484½ 484 487
18 .... 4 81½ 4 84½ 4 84 4 87
19 .... 4 81½ 4 84½ 4 85 4 87
8.
20 ... 4 82 4 5
21 . . 4 82 4 85 4 84 4 86½
Holiday.
22 .... 481½484½
4 83 1-tJ 4 6
':',
23 . .
s11l4
81½ 4
81 4
so 4
80 4
80 4
&i
84
83½
2½
82½
82½
48o~b83
481½484
4 s1 4 83½
481 483½
4 81½ 4 84
4 81½ 4 84
s.
4 81 4 83½
480½483
4 80½ 4 83
it
a1~
4 82 4 84½
4 84½
s.
4 82 4 84g
4 2 4 4
4 82
!~!
H~
G'd Ilrid:~v.
4 84½
s.
4 82 4 84½
4 82 4 84½
4 82 4 84½
4 82 4 8-l½
482½485
4 82½ 4 85
4 s2
!~?~!~~ !8Y
~L·
26 ... 48lj,§484~ 480
a~~
High 4 82½ 4 85.½ 4 84
Low .. 4 80 4 82½ 4 79
4 8-l 4 86
4 81½ 4 84
4 87
4 81½ 4 80 4 82½ 4 81½ 4 8!
!ro~1~
4 2½ 480½483
S.
S.
4 79 4 81½ 4 81 4 83½
. . . . .. . . . . 4 81 4 83½
4 83½
81
4
.
.
..
.
. . . ..
. . . 4 81 4 83!,i
......
27 ... 4 81::>13 4 84½
28 ... 4 82 4 85
4 85
~ ... 4 82
S.
30 . . .
31.. . . 4 82½ 4 85½
8
483 485¼
4~3½486
4 83½ 4 86
4 83½ 4 86
4 86
4 4
4 84 4 86
... .. .. . . . .
July.
June.
May.
April.
Mitrch.
February.
January.
1½~ii~~
August.
g-
!~
H~ !
!~~!~~
t½
Hf
~ij
it~i
!~i'
!J
~l
s.
18864½ 44 8886¼ 44 8845
,.
44,,s,
Ju
4 84½ 4 86½ 4 83 4 85
t .SS½ 4 85¼ 4 80½ 4 84
October.
Septemb'r.
~o8 1tit. :oJ¼~,mt.
60 d. 8~1ght. ~os1· i~t. ~o8
4 80½ 4 84
4 84½ 4 86.½i 4 83 4 85
4 84 4 86
4 84 4 86
84
480
½s4
!~
!t½!~~½ Uf~!~~ Ho/'it'ly
1
480~484~
484½ 486½ 483 485
'.
4 5 487
85
4 83
!
s~
J½ ! ~½ ! ~!~ !
! ,
4 1 4 84 j1
4 84¼. 4 86½ 4 83 4 85
4 85 4 7
8.
4 1 4 84,,,.
4 84½ 4 6½ 4 84½ 4 86½ 4 83 4 85
4 85 4 7
4 s1 4 84½
4 83 4 85
s.
4 5½ 4 7½ 4 84½ 4 86½
S.
4 85½ 4 87½ 4 84½ 4 86½ 4 84½ 4 6½ 4 83 4 85
4 81 4 84½
4 84.½ 4 86½ 4 83 4 85
.
4 86 4
8
85
483
86
! ½ it~
s~
~ !t~U~t§
481 484½
484½486½ 484.j,§486½ 483 485
8.
4 so½ 4 ss½ 4 84J,§ 4 so½ 4 8472 4 86½ 4 s2~ 4 84½ 4 s1½ 4 85
4821)484½ 481½485
s.
48i72486½
486 488
S.
4 84½ 4 d6½ 4 84¼ 4 86!11 4 82 4 84!,,.i
4 86 4 88
4 84)'!\ 4 86½ 4 82 4 84¾ 4 81½ 4 85
s.
4 86 4 88
4 82 4 84½ 4 81½ 4 85
4 84½ 4 86½ 4 84½ 4 &6½ 4 84 - 4 86
4 Sl½ 4 85
S.
4 84½ 4 86½ 4 84½ 4 86½ 4 83½ 4 85½
484½486½ 483½485½ 482 484½ 481½485
.
4 84_¼ 4 86~ 4 83½ 4 85½ 4 82 4 84)i 4 1½ 4 85
4 84 4 86
481
85
8
2
.1J!
is~ !J~!Jhi 483½ 485
Rolid:iy.
4831485~ 4801£484
'.
4 5 487
84½
4
1
4
8!
4
80½
4
85½
4
83
4 84½ 4 86½ 4
4 84 4 86
4 81 4 84½
s.
4 81½ 4 86½ 4 83 4 85¼
4 84 4 86
, 81 4 84½
4 84½ 4 86½ 4 83 4 85¼ 4 80¼; 4 84
s.
1 ~½ 4 84
Holiday. 4 84½ 4 86½ 4 83 4 85½ 4 80).s. 4 84
4 80½ 4. 84
. . • . . • . . . . ..
4 84 4 86
4 bL½ 4 85
4 80½ 4 84
November. December.
f
~o81~~ii~~
~o8 ~\it.
4 81½ 4 85¼ 4 81 4 85
481
85
!~½!~½a}·!~
481 485
479½4~ 481 485
8
!
g~~ ! 83½ 4 s1 4 85
4 79½,_,4_ 83¾ H olid ,,x. 4 81 4 85
4 81 4 85
4 81 4 85
...,
4 s1 4 85
4 79½ 4 83½ 4 s1 4 85
8.
4 79½ 4 83½ 4 81!i 4 85
4 81 4 85
4 79½ 4 83½ 4 81¼ 4 85
~08g½~1,mt,
:-l.
l
nt
H8½!~½•4st,l485
481½485
480 484
4 s 1rj 4 s 5
.
4 8 1n 4 85
4 80 4 84
4 80½ 4 84½ 4 81½ 4 85
4 80½ 4 84½ 4 81½ 4 85
s.
4 80½ 4 84½
4 80½ 4 84½ 4 81X: 4 85
480½484½ 480½484½
4 80½ 4 84J.ii
8.
s
a}½!~~
481¼485½
4 l½ 4
4 82 4
4 82 4
S.
4 82 4
4~~i~~½
480xi484½
8.
85 _
4 81 4 5
86
4 81 4 85
86
4 81 4 85
.. . . .. . • . . . .
86
sg
!~}
4 1
!I
485
4 s5
485
8. ~
4 81 4 85
4 81 4 85
4 81 4 85
481 485
4 80_¼ 4 84~
480 434
4 81
481
½
½
4
4
4
4
4
H o1fa. -,y.
0 4 84
80 4 84
80¼ 4 84¾
81 4 85
81 4 85
4 86
4 84
4 81¼) 4 85~ 4 S L 4 85
4 80¼ 4 84''1l 4 80 4 84
October.
November. Delle.::ntier.
4 82
4 80
1ss2.
June.
May.
April.
March.
J<'ebruury.
January.
Dt/
Mon. 60 d. Sigilt. 60 d . Sigilt,. 60 d . Sight. 60 d. Sight. 60 d. Sig-ht. 60 ct. Sig-ht.
4 7½ 4 90½ 4 87½ 4 90
4 85 4 00½ 4 86 4 90½ 4 87 4 90
s.
1....
4 87½ HIO½ 4 7½ 4 !-lO
S.
~~ 4 90½
2.... Holid•1y.
90
4 87
8
½,~
~~
~+~
~ 4 85 H)O½ 4 86
8
8
485 400½ 486 490½ !~~~gg~
4 87½ 4 90
•.
4 RH 4 90~ 4 h7½ 4 90½
4 85 4 !JO
7 .•. 4 81 4 85
4 Rfl 4 00½ 4 7½ 4 90½ 4 87½ 4 llO½ 4 7½ 4 90
4 85 ,! 110
S.
8....
4 7½ 4 90½ 4 7½ 4 90
s.
4 811L 4 85 1 / 4 Sj 4 <l0 1 ' 4 :-l6 4 HO
"'
4 7~490½ 487~490½ 487½490
10:::· 4 2''"486)2 483 4!} '[~ 486 490
L: i I !
L: U½ !J
a~
gg~ !
! ~~~!si~ 4 '~
½L:
4 80
13 .. .. 4 83 4 87
4 87
S
487
4 87
4 83 4 87
4 83 4 "Z~
4 84 72 4 ooro
4 84
S8½
4 85 4 9
4 85 4 89½
4 85 4 9½
14 . .•• 4 83
483
10·:::
. 15
17 . ... 4 83
18 ....
1 9._.....
20
~~
· ::
23 . •
24....
25 ...
M
½l
!~ gg½
~.:::
28 , •• 4 85 4 90
s~UO,½
4 00 11
4 85 4 UO½
4 ,,5 4 90!,-~
485 490.½
4 85 4 !.JO ~
4 85 4 90!,<i
_-,
4 ,8 "
4
s.4 90
486 s~90
4 86 4 90
4 86 4 90
4 8fl 4 90
485½489½
4 85½ 4 89½
4 85½ 4 89½
, ✓:s .
4 72 4 90
86
fill~ g8
~~)lift ~J_½ !4 87
4 90
4 85¼ 4 90
4 87
4 87
4 85½ 4 90
4 85½ .UJO
4s5il.i90
4 86 4 90
. . . . . . . ...
S.
29....
30 .... 4 85 4 \10½ . . . . . . .....
31. ••• 4 85 -1 llO.½ . .. .
g~ ! g8~
g+~!88~ ! +~!58
g8~ !
487
4 87
4 7
4 87
4 87
487½490
!8~½!fo~ :g+½a8~
87½ 4 90½ 4 87½ 4 90
4 87
4 87
4 87
4 fl,7
4 87
4 s1
4 87
g+
4 90
4. 90
4 90
s.
4
S.
4 90
4 90
4 90
487½490½ 487
4 87½ 4 90M 4 87
4 87½ 4 90½
4 87~ 4 90½ 4 87
4 87½ 4 90½ 4 87
4 90
4 90
4
4
4
4
4 90
! 88
S.
.b
4 87
4 7
490
4 90
4 90
4 90
4 90
!s+½H3
!s+
.
4 7½ 4 90½
Holiday.
4 87½ 4 90½
Holiday.
S.
. . . .. . . . . . . 4 87½ 4 90
g8
fJt~. i ri ! gg¼ ! ~ ! 8U! ±~½ i ~g~ ! ~+½ t 88½ !
11
4
4
4
4 86
4 ._ 6
4 86
4
4 6
s.
:sg
4 86
4 86
4 86
4 89
4 89
4 89
s.
489½
4 89½ 4 86
4 6
s.
4 .:io½ 4 s6
4 h!J\i, 4 86
489
489
480
4 89
ai s.
H+ !
Hg
4 86
i~g~!
4 86½ 4
4 86¼ 4
4 86.½ 4
4 86
. • • . . • . .. . . . 4 86
+~ i 88½ ! ~~ i 8
0
August.
;Sight.
4 89
•i 89
4 89
4 89
, R~f 4 tl6 4 89
8.
R11?
1
&'- -1 4 86 4 89
½ 486 489
4 86 4 0
4 9
4 9
4 89
486
s~~
90½
s11
7½ 4 90½ 4 ~7 4 :<H 14
'7½ 4 90½ 4 7 4 9½ 4 6
4,6
S
87~ 4 90½
4 90
4 90
8
4 87½ 4 90
4 87½ 4 90.½ 4 87½ 4 90
July.
60 d. Sticht. 6() ct.
4 86
4 86½ 4 SH
-186
s.
4 , fl
4 86½ 4 PO
Holiday. 4 8fl
480
49
489
4()
49
4 9
49
49
s.
489
4 6
4 6
4 86
4 86
4 86
4 86
486
485
486
486
4fl
4 86
486
486
46
486
486
4 86
486
S0i:>temb'r.
:osi· 2igt. 60 ct. 8~ight. ~os i· ~i~~
~½ ~i~
4 86 s~ 90
4 81½ 4 S6~ 4 81½ 4 85~
4 86 4 90
S.
4 S1 4 6
4 8H 4 00
4 81½ 4 85½
4 81 4 86
4 '6 4 00
4 81
86
! ~m !
! s~ !4 ii~
89
4 85
4 894
4
4 85
4
4 85
s.
89½
89½
485
4 89½! 4 85
4 89 1,,; 4 84½ 4 89½
4 89½ 4 84>1,? 4 89½
490
s.
490
4 84½ 4 89
4.90
4 84½ 4 R9
s.
4 84 4 88¼
490
4 S4 4 88¼
490
4 83½ 4 88
4 90
4 83½ 4 88½
490
".
490
4 83 1_ 4 88½
490
4 83½: 4 88½
s.
4 3¼ 4 88½
490
4 82½ 4 87½
490
4 82 4 87
4 90
4 82 4 87
4.90
.. ... . . .. ...
i J½ t ~½ i fill i gg
4 Sf\
4 82
s~
4 81½ 4 86½
481½486½
4 81½ 4 86½
4 89
4 82 4 86½
4 89
482 486½
489
4 89½ 4 82 4 86½
s.
4 !);I
4 7
S.
82 4 86½
82 4 86½
82 4 86½
82 4 86½
4 82½ 4 87
4 82½ 4 8~
S,
4 82~-tJ 4 , 7
4 82 4 86 1~
4 82 4 86½
4 82½ 4 87
4 82½ 4 7
4 82½ 4 87
4
4
4
4
!
![~½
4 81
4 86
4
3½~~~
o~~ 84¾
1
4 M
4 'l
4
4 85
4 85
4 85
~
~~-!4 84½
i~i~~½ !4 80½
4
4 81½ 4 85½
481½485½
4 81.!,,, 4 85½
1<.
481½485½
4 81½ 4 85½
4 81½ 4 85¼
4 81½ 4 85½
4 81 4 85
4 81 4 85
S.
4 81
81
81
f;l
80½;
4 80½
4
4
4
4
4 85
4 85
4 85
4 85
4 84¼
4 84.½
s.
4 80 4 84
4 80 4 84
4 80xi 4 84½
s.
Holiday.
4 82½ 4 87
4 82 4 86½ . . . . . • • . . . . .
4 , 2½ 4 87
~08
4 82
4 80
s.
4 RO½ 4 84½
4 1 4 85
481½485½
4 , 1½ 4 85½
4 l½ 4 85½
4 81½ 4 85½
~
s.
4 1½ 4 85½
4 81½ 4 8b½
4 81'-t, 4 85½
4 81½ 4 85½
4 82 4 86
4 82 4 8b
s.
4
4
4
4
4
Holiday.
2 4
81½ 4
,1 4
fit 4
81 4
'3.
86
85½
65
85
85
4 86¾ 4 2 4 86
4 O½ 4 84¼
4 84
188:J.
Day
of
J anuary.
-1~~: 6°adoli~\flt.
2 . ... 4 81 4 85
4 81 4 85
S
4:::: 481 485
5 ... 4 81 4 85
6 .. . . 4 s1 4 85
7_ .· ·. ·. 81 s4. 85
4
8
18.:: ·
11.. .
12 ..
13 ....
14 .. ..
15 ....
!~~
rJ·
.May.
4
4
4
4
~ii&~
84 4 86½
84 4 86½
3½486
83½ 4 86
s.
4 83½ 4 86
4 84 4 86¼
!t !W~
!t~ !J½t~½
84 4 86~~ 4 61 4 87½
s.
4
June.
!~~
~?3
4 88¼ 4 87
4 83'} 4 87
483 1:!487
4 l-3Y2 4 87
4 84 4 87
4 1 4 87
4
4
4
4
4
4
82½ 4 85
82 4 84½
1½484
81½ 4 84
81½ 4 84
81½ 4 84
4 84
4 84
484
4. Os
4 86
4.86
S.
4 86½
4 86><.i
4. 80¼
4 86½
! i l ! ! rs½ i t !
!~½1~g½ g} !~~
a~
!~
~W.. ! ~½ i ~ i ~" ! ~l" 1g~½ i ~¼ t ~!rs"
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
4 84
H~~i~~
July.
s~•ght.
~osg• ~1~g~ 60
4 86 4 89½ 4 85½ 4 89
4 85½ 4 89
s.
486 489½ Holiday.
4 6 4 9.½ 4 85½ 4 89
4 85½ 4 89
4 86½ 4 ~o
4 85½ 4 89
4 86½ 4 90
s.
4 86.½ 4 90
90
486
½s~
4 '5}:.4 89
4 86½ 4 90
4 - -4 ½
4 86½ 4 90
4 5 4 ½
4 86½ 4 90
485 488½
4 6½490
S.
4 6½ 4 90
4 86 4 89½ 4 85 4 88½
4 84½ 4 86
S.
4 86 4 89½ 4 84?§ 4 88
4. 84~ 4 88
4 85½ 4 dO
d.
August.
~OJ·
~f,~~
Septemb'r.
8
482½ 486
4 2½ 4 86
4 il/4 4 86
S.
4 84- 4 87h 4 82½ 4 8t1
483½487~ 4 2½486
4 82½ 4 86
4 83½ 4 8 7
S.
4 83½ 4 87
4 83 4 ~6 j,§ 4 8 2¼ 4 86
4 83 4 o 6'2 4 83 4 8 6
4 83 4 86
S.
~g~ i ~ ! ~g
! ~g ! t S.! ~+~ !483~ i486½
483 486
4
8
483 4.86
Hi~
J
H~½
!t
4 4 4 87~ i s3 4 86½ 4 83 4
81)
4 84
4 84
4 84
October.
:o8~½~i~t. :oS.~¼~i~~
4 83 4 85½
s.
4 84 4 87½
4 82½ 4 85
4 82½ 4 86
4 84 4 88
482½485
482½486
484 488
4 82½ 4 85
4 82½ 4 86
4 82½ 4_ 85
4 82½ 4 86
4 84 4 88
8
4 82½ 4 86
4 84 4 88
4-82½ 4 85
4 82½ 4 86
4 844 4 88
!8g~H~ !t~!~
4 84½ 4 88
4 87½
s.
484 487½
4 84 4 87½
4 84 4 87½
4 84
4 H4 4 h7½
4 84
4 84½ 4 88
4 84
s.
s.
4 84½ 4 88
4 84
4 83 4 86½ 4 82½ 4 84
~~ 4 s5 84 88½ : ~~
~~ ~1½
485½489
485½489
S.
llolidlly. 481 483½
489
4
l35.½s
!rs¼!~½
4 85½ 4 9
4 85½ 4 89
4 83½ 4 86
S.
S.
4 83 4 86½
4 85½ 4 9
4 85½ 4 89
4 81 4 831.~ 4 83½ 4 86
4 83 4 86
4 8.'3 4
4 85½ 4 9
s.
4 83 4 8~ 4 82½ 4 5½ 4 81 4 83½ 4 83½ 4 86
4 85½ 4 9
4 85½ 4 89
4 83½ 4 86
4 82.½ 4 85½ 4 81½ 4 84
s.
4 85½ 4 9
4 85½ 4 89
s.
4 83 4 86½ . .•. . . . ... 4 82 4P4½
4
4
0
.~-~~-~~-· 4 i Jiiali½ -~-~~--~-:::::: : : ::
!~~ts~
4 t--2
4 ts2
!J
~--··
25
~.:::
ioJil41!~t- ~o8i½~%~t. 60 d. ,ight.
4 82½ 4 85
4 82½ 4 85
4 83½ 4 87
4 82½ 4 85
4 82½ 4 85
4 83¼. 4 87
482½485
S.
S.
4 82 4 84½ 4 83 4 85½
4 83½ 4 87
4 s2 4 84½ 4 83¼ 4 so
4 83),_ 4 7
4 83½ 4 86
4 81½ 4 84
44 8383M. 44 877
.
4 81½ 4 84
>!!
H~~H~
!~1½!~½
s.
4 '2 4 86
4 86
4 86
s.
4 82½ 4 86½
4 2½ 4 86½
16
17 ... 4 3 4 87
18 . . . 4 3 4 87
19 .... 4 83 4 87
87
4 83
s~
~~ · ·
22 .. 482½486½
26 ...
27 . . .
28 •••
29 ....
April..
March.
Feb!'llary.
!~~:~g~
4 82½ 4 85½
4 82 4 85
4 82 4 85
s.
4 82 4 85
4 82 4 85
4 82 4 85
4 82 4 85
4 82 4 85
4 82
85
s~
482 485
November. December,
~osi· ~i~t. ~OJ,
4 82 4 85
4 83
4 82 4 85
483
S.
4 82 4 85 4 83
H ~d ay. L 4 83
1
4 83
4 82 72 4 85715
4 82½ 4 85½ 4 83
~i~~
s.
.
4 So¾
485½
4 85½
4s
4 8 v715
4 85½
g~
482~b85¾
a~~!roij
4 82 4 85
s.
4 82~.i 4 85½
4 82¼ 4 85½
482½485½
4 82½ 4 85½
4 82½ 4 85½
4 82½ 4 85}13
4
4
4
4
82 4 85
82 4 85¾
8!½ 485½
82½ 4 85½
R.
4 82½ 4 851
4 82½ 4 85
4 82½ 4 85~ 4 82~ 4 85
s.
~~ i ~½ ! t
!483~ !485½
483 486
!~}~!ttt l~ Hg~ 4s2}l485¾
H oliday.
.
4 81½ 4 84½
4 8311: 4 86½ 4 82 4 85
S.
4 87½
4 87½ 4 83 4 86½ 4 83½ 4 86½ 4 82 4 85
s.
4 87.½ 4 83 4 86½ 4 83½ 4 86½
4 3 4 6½ 4 83~4 86½ 4 82 4 85
s.
Holiday.
4 83 4 85½
4 83 4 85¼
iouia85¼
4
.. . ... ······
4
4
4
4
82½ 4 ~5
82¼ 4 85
2,½ 4
82½l 85¼
482½48b¼
H! !~~~ ±~ !~~ ...... ·...... !~~ ! ~
i rs" i ~¾ ! ~~ i ~ i ~" t :~u ! ~ i ra" i ~~~ i ~" i ri~ it~ i ~ i ~¼ i ~~ ,i ~
FOREIGN
EXOR.ANGE.
8 7
1884.--In the early part of the year sterling excha1 e ruled at very firm rates, owmg to the return of securities from
abroad and to the fact that the crops of 1883 had be I small, and there was a small surplus for export after January 1.
As a consequence of this situation there was a net expm.;, of gold amounting to some $32,000,000 by the en~ of April, after
which came the May panic, upsetting money matters and checking the gold export. After July 1 the imports of merchandise began to decline and there was a better feeling in American securities ; also in the autumn months a large export
movement of cotton. Rates uf exchange fell off sharply in June and July, and there was a moderate unportation of gold.
Rates in August and September were firmer, and when they declined again and gold imports were beginning, the advance in
the Bank of England rate to 5 per cent, in October, checked the movement. During the balance of the year the rates fluctuated.
1885.-In the early part of the year there was some investment demand for sterling bills from parties who wished to have
their funds in London, where money was higher than in New York. In April the prospects of war between England a~d
Russia also advanced the rates for sterling, which were again reduced on the more pacific aspect in May. ~ates were low. m
June, higher in July and the early part.of August, and then wea~eragain, so that a small amount _of gold was imported. • Du~rng
the balance of the year export~ of gram and cotton were relatively small, but there was a considerable demand for _American
securities abroad, and rates did not touch extremes in either direction. Late in December a sharp demand f_or _short b_1lls put up
-orices temporarily and about $600,000 gold was shipped; but this was merely a flu.rry and rates fell off agam 1mmed1ately.
1886.-The course of foreign exchange in the year 1886 was somewhat remarkable in the striking contrast observed
between tl:te first half and the last half of the year. In the first si::x: months exports were low in va1ue1 imports were large,
there was little demand for our Fecurities abroad, exchange ruled high, and gold fl.owed out every month, reaching a total of
$84,349,628 net export of gold in the half-year, In the last half-year all was changed-exports of grain and cotton were
heavy, there was a good demand for our stocks and bond~ from the foreign markets, exchange ruled low, and gold was
imported to the amount of about $34,000,000.
1§84.
Dt/
January.
February.
March.
Mon. 60 d. Sight. 60 d. Si,ht. ~08~½~~~
4
~~
s.
S.... 4 3 4 St,
S.
4 7½ 4 90½
4 .... 4 83 4 86
4 86½ 4 89
4 87½ 4 90½
483
86
April.
~OJ. ~iig~
as 4 90~
4 88½ 4 90½
4 88¼-! 90~
488
90
¼/ ½
4 88¼ 4 90~
4 8-i½ 4 90½
4 88½ 4 90½
4 88¼ 4 90½
4 88'1! 4 90½
4 88¼ 4. 90J.i)
::;.
4 88½ 4 90½
4 88½ 4 80½
"- 88¼ 4 90¼
4 8d 4 9,J
4 gq 4 90
4 88 4 90
S.
4 88 4 90
4 88 4 90
4 8S 4 90
4 38½ 4 90¼
4 88½ 4 90½
90
488
½s~ ½
4 88¼ 4 90½
June.
July.
August.
60 d. s~ight. ~OJ· ~i~t. :08~~~
4 84½ 186½ 4 88½ 4 85½ 4 s2>1! 4 84½
4 85 4 b7
-! fl! 4 86
S.
-! 85 4 f,7
Ilolid1~ 4 82¼; 4 84½
48
!~~!~~~ l s~
![~½:t½
4 88 4 90
4 B'i½ 4 87½ 4 ti3½ 4 85¼! 4 83 4 85
4 83 4 90
s.
4 83½; 4 8'>'-' 4 83 4 85
4 88 4 9,1 4 85½ 4 87½ 4 83½ 4 85½ .-i 83 4 85
4 88 4 90
4 85½ 4. 87½ 4 t'4 4 80
s.
S.
-l 8-'5¼ 4 R7½ 4 54½ 4 B½ 4 83 4 8'i
4 88 d 90
4 85½ 4 87½ 4 f\..l½J 4 86½ 4 83 4 85
4 88 4 91l
4 86 4 88
S.
4 83 4. 85
4 8 4 91
4 86 4 88
4 84½ 4 81H9 4 83 4 85
4 86½ 4 88 79
S.
4 84½ 4 86½ 4. 83 4 8"5
4 85 4 s1
4 86 i 88
4 84 4 86
4 83 4 85
4 ti5 4 87
4 86 4 88
4 8 1 4 86
S.
s.
4 86 4 88
4 84 4 86
4 83 4 S5
4 85 4 87
4 85½ 4 d7½ 4. 84 4 86
4 83 4 85
4 85 4 87
4 84½ 4 i,6½
S.
4 8-':l 4 85
4 85 4 87
4 84½ 4 86½ 4 84 4 86
4 83 4 85
4 85 4 87
s
4 Ba½ 4 85½ 4 83½ 4 85½
4 85 4 87
4 83¼ 4 85½ 4 88 4 85
4 83½ 4 f:15½
4 85 4 87
4 ~2½ 4 84¼ 4 82½ 4 84½
s.
S.
4 82½ 4 84½ 4 ~
~
~½
4
!~t½!~g½
s.
484 486
4 84½ 4 86½ 4 82 4 8-!
4 83 4 85
4 84 4 Sfi
4
6
~~
tolii! . 4 83
85
: ~~½ ! ~¼ !
. . . . . . . . . . • 4 84 4 ~
. . . . • . . . . . . 4 82 4 84
s.
Lit
L:: [~t1?'5¼ !
L: l n8~Hg !~~ij!~~
7 .. . 4 81½ 4 86½ 4 sag 4 89ij 4 87½
8 ...• 4 84
4 87
4 86
9 .•• 4 84½ 4 87½ 4 so
10... 4 84½ 4 87½
11 .•
1.2 . •.
13. ...
14 . . ..
15 ....
16 . . .
17. •••
18 ...
19 ....
20 . .
21 . .
22
23 ••
4 84
4 84
4 87
4 87
4 89
4 89
s.
4 8!lij 4 90
4 86 4 90
4 8tS 4 90
4 84;.a 87
4 86½ 4 90
4 85 • 4 87½ 4 86¼ 4 90
4 86 ½ 4 90
4 85 4 88
4 85 4 88
S.
4 85 4 88
4 86~ 4 90
4 85 4 8:l
4 86>2 4 90
s.
4 87 4 00½
4 85g 4 88
4 87 4 90½
4 351 4 s;i
H01ict tv.
4 85 -1 88
4 87 4 90½
24 ...• 4 ~5½ 4 88
s.
25 . ... 4 86 4 8'3½ 87 4 90½
486
~.:::
s.
4 90½
4 87½ 4 90½
:-,.
4 87¼ 4 90½
4 87 ,€ 4 90½
4 87½ 4 90½
4 87½ 4 90
4 87½ 4 90
4 87½ 4 9u
4 88
; 88
4 88
4 88
4 88
4
s.
4 90~
4 90
4 90 _
4 90½
4 90½
4 90½
S.
4 88 4 90½
4 88 41<0~
l&½
!r
28 .•• 4 86 4 88½ 4 87½ 4 90½ 4 88 4 90½
90
4 88
4 7
~
g~~
S ½ HO½
8~
½
31. .•• 4 86½ 4 89
4 88 4 90½
1
nx,
gg~
gg~
! ~g
::: !
May.
~OJ· ~i~t.
4s
4 90
4 El8 4 90
S.
!~ !88
!
:~~½!t½
! 88~
!
Septemb'r.
:oJ· ~~t.
4 84 4 86
4 8-l 4 86
4 84 4 86
ft~
4 90
4 86
486
482
Hi s.!~
4 8!
4 8-3½
4 88½
4 8-'3½
4 83½
4 83½
4 86
4 81½
4 85½1
4 85½
4 85½
4 !35½
s.
4 83½ 4 85½
4 83 4 8 5
4 83 4 8 5
4 83 4 85
4 83 4 85
4 88 4 85
S.
4 83½ 4 85~
4 3½ 4 85 1-<i
4 !:!3~ 4 85¼
ag½ ! ~~~ ! ~~~
!
483½ 485½
-8.
t g~ !. .~... . ug
! ~b½ ! t½
. . . .. .
8-i
Hlgt. 4 86½ 4 1:19
4 87½ 4 90½ 4 88 4·901,g 4 88½ 4 90½ 4 l:StS
Low. 4 62½ 4 85¼ 4 86½ 4 89
4 87},i 4 90
4 88 4 90
4 84
October.
:os.~· ~l~t.
4 82½ 4 84½
4 82½ 4 Si½
4 82½ ~ S-1½
8
483 485
4 83 4 85
4 83 4 85
4 s2 4 85
4 82 4 85
4 82 4 85
S.
4 82 4 85
4 82 4. 85
4 82 4 85
~ s 2 4 85
~ 8 2 4 85
4 82 4 85
S.
4 82 4 85
4 81½ 4 M½
4 RI½ 4 84-½
4 l½ 4 84½
4 81 4 84
4 81 ~ 84
481 48!
4 81 4 84½
4 80½ 4 84
4 84½ 4 86½ 4 84 4 8fl
4 si
4 32 4 84
1 82¼ 4 84~ 4 83
488
484
4 86
4 85
483
November. December
~o8g½~i~t. :osf ~i~t
s.
4 81½ 4 85½
4 8•l½ 4 84½ 4 81½ 4 85½
iolit~
~~
~
4
480¼485
482 486
4 8'J½ 4 85
s.
4
4 85
4 82½ 4 86½
s.
4 se 4 86
4 80 4 84½ 4 81½ 4 85Ji
4 E0 4 Si¼ 4 81¾ 4 85½
4 80 4 84½ 4 82 4 86
4 0½ 4 i<4½ 4 8t 4 86
4 81 4 85
.
4 81 4 85
4 81¼ 4 85½
,.,s . ,.1.< 4 s 1 ~_- 4 s5¾
4 81 --., 4 8vn, 4 8 1 7>! 4 85 Xi
4 81½ 4 85½ 4 81'-9, 4 85½
4 81½ 4 85"2 4 81¼, 4 85.½
4 SI¼ 4 85½ 4 81¼ 4 85¼
4 32 4 86
S.
4 82 4 86
4 81 4 85
S.
4 81 4 85
4 82 4 86
4 81 4 85
!
!
80½
! ~~½ ! J½ 4 fi°lifll.~
H lid,y
481 465
4 81½ 4'g5~
S.
4
85
sws~ ½
. • . . . . . . . . . . 4 81 4 85
! ~i a~
485
482
480
4 80½ 4 84
486
484
lSSa.
Di/
Januar:t'.
February.
6'k_<};if1[y.t. eo dlll-(ht.
2 ... 4 8 Ll,li 4 85½ 4 84¼ 4 88
S .... 4 dl½ 4 85~ 4 84 4 87½
4.. ..
8.
4 84 4 87½
6 . ... 4 81½ 4 ~ 4 84 4 81½
6 . .. • 4 81½ 4 1 4 84 4 87~
7 . . . 4 81 ½ 4
4 84 4 87½
8 . .• • 4 81½ 4 85
s.
9 ... 4 81½ 4 85½ 4 84 4 87½
10... 4 81½ 4 85½ 4 83½ 4 87
11.. •
s.
4 84 4 87}2
12 .. . 4 82 4 86
4 84 4 87½
18 .... 4 82 4 86
,. 84 4 87½
14 .... 4 82 4 86
4 84 4 87½
15... , 4 82½ 4 86½
s.
16 . . . 4 8~½ 4 86½ 4 84 4 87½
17 .•.. 4 82½ 4 86½ 4 84 4 87½
18....
-:5.
4 84 •l 87½
19 .... 4 82½ 4 86½ 4 84 4 87½
20 . .. 4 83 ~ 4 87
4 84 4 87½
21 .. 4 88½ 4 87½ 4 84 4 87½
22 . . .. 4 83½ 4 87½
S.
28 . 4 84 ~ 4 88
lfolid ny.
88
484
s~
26 . .. 4 83 4 87 4 84 4 87¼
27 ..•. 4 83½ 4 87½ 4 84 4 87½
28 .•• 4 84 4 88
4 84 4 87½
29 .... 4 84 4 8~ . . . . •. .. . ..
SO .••. 4 84 4 8
. .. . . . . . . ..
SI
4 84 4 87
. ... ., . . . . .
¥.~~:
1~!~~
~L·
Blgb 4 84 4 88
4 84¼ 4 88
Low • 4 81 ¼ 4 ~ 4 83¼ 4 87
Day
March.
60 d. 8~ight.
4 Bi 4 87½
4 '!l4 4 87
4 84 4 87
4 84 4 87
4 84 4 87
4 84 4 87
April,
~o8g½~it.
4 85½ 4 88
Holiday:,
4 85"°4. 88
o
January.
3....
s.
February.
!J
4 8.5
a+~ a❖ U8
4 87½
S.
4 87¼ 4 87 4 89
4 87!i 4 87 4 89
s.
4 87 4 80
4 85½ 4 88
4 87 4 89
4 85¼ 4 88
~
48'nbs9½
4 87 4 89
4 87½ 4 89
4 87g 4 89
4 87 4 89
Ho iday,
8.
4 85½ 4 88
4 87 4 89
4 83¼ 4 86¼ 4 85¼ 4 88
4 88
4 87
4 85
4 85
March.
4 87½ 4 sg½ 4 88½ 4 l•0
L:
! ~½ gg¼ i ~½ i gg½ !4 ~½
i~
6 . .. . 4 87½ 4 90½ 4 88 4 90
88
7 ... 4 87 4 90
8 .... 4 87 4 90
9 . .. 487 490
10. ..
S.
iL· a~
a&
13 .... 4 87½ 4 90
14 ... . 4 87½ 4 90
s.
4 88 4 00
488 490
4 88 4 90
!~
gg
4 88 4 90
S.
4 90
s.
4 88 4 90
488 490
4 88 4 90
4 88½ 4 90
4 88½ 4 90
<\.pril.
~o~~~~
! ~g
4 87
4 87
4 87
487
4 87
4 811
4 89
4 89
4gu
4 89
8
4 7 489
4 88 89½-90 4 7½ 4 89½
S.
4 87.½ 4 89½
a~ :~tt88
4 88
4 88
4 90
4 oo
4 90
4 80
1\:lay.
June.
~08~I-.i~1%~t.
4 87 4 b8½
4 87 4 f>B¼
4 87 4 88
4 87 4 88
4 87 4 &3
July.
~o8
~~t.
4 85 4 86
4 f!.5 4 86
Holiday.
s.
4 tl5 4 86
s.
4 :i 4 86¼
4 87 4:88
4 85 4 86½
4 87 4. 8'-1
4 t'5 4 86½
4 86½ 4 R7½ 4 ~5 4 86½
4 86 4 87 4 85 4 86½
4 86 4 87
8.
4 86 4 87
4 ix; 4 86½
S.
4 84½ 4 86
4 86 4 87
4 85 4 86½
4 86 4 87
4 85 4 86½
4 86 4 87
4 85 4 86½
4 80 4 d7
4 85 4 86½
4 86 4 i,7
S.
4 86 4 87
4 85 4 86½
s.
4 85½ 4 87
4 86 4 87
4 85½ 4 87
4 85½ 4 86½ 4 8tS 4 87½
g.
August.
~oJ½~it~~
8.
4 85½ 4 87½
4 86 4 88
4 813 4 88
4 86 4 88
4 86 4 88
Holiday.
4
4
4
4
4
4
4
4
4
4
4
4
86
81:l
86
4 71,l:1 89½
4 8~
4 88
4 88
4 88
4
s.
4
85½ 4 87½ 4
85½ 4 Bi½ 4
8"5 4 87
4
S'i 4 87
85 4 87
4
85 4 87
4
S.
4
!~+~ ai a~
!~½!~½
:8g
4 85½ 4'86½
S.
4
4
4
4
4
4
s.
S.'3½ 4 85½
83 4 85
88 4 85
83½ 4 85½
83½ 4 85½
83½ 4 85½
84
84
4 86
4 86
83½ 4 85ij
83½ 4 85
88½ 4 85
S.
84 4 86
84 4 86
8!½; 4 86½
!J½!~½
4 84½ 4 86½ 4 84 4 86
4 84½ 4 86½
s.
87 4 84½ 4 86¼ 4 84 4 !:!6
87½ 4 84½ 4 86½ 4 l-'4 4 Sf\
87½
s.
4 84½ 4 86½
87¼ 4 84 4 86 .., . . . . . . . . . . .
4 85½ 4 86½ 4 85½ 4 87
s.
4 85½ 4
4 86
4 85½ 4
4 85 4 86
4 85½ 4
. . • . . . . . . . • • 4 85½ 4
4 El5
4 87½ 4 89
4 85 4 86
June.
October.
~oJ½~it~~
4 84½ 4 86½
4 84½ 4 Sil½
s.
4 84½ 4 86¼
4 84 4 86
4 84 4 86
4 84 4 86
4 84 4 86
4 84 4 86
.
4 84 4 86
4 84½ 4 86½
4 84½ 4 Sil½
4 34½ 4 86½
4 85 4 87
4 85 4 87
S.
4 84 4 86
4 84 4 86
4 84½ 4 811½
4 84½ 4 86½
4 84 4 811
484
86
s~
4 83½
4 34 4 84
4 8!
4 84
4 84
November.
60 d. s~ight.
4 84 4 86
Holiday.
4 84 4 86
4 84 4 86
4 83½ 4 85½
4 83½ 4 85½
8.
4 88½ 4 85½
4 83½ 4 85½
4 83½! 4 f!.5½
41:13½ 4 86
4 83 4 85½
4 83 4 85½
4
4
4
4
4
4
83
83
83
!s.~
S.
4 83½ 4 80
August.
Septemb'r.
~+
October.
4 87½ 4 90
4 87½ 4 go
S.
4 87½ 4 go
4 87½
4 87½
488
4 88
4 ~9½
4 89½
41-J0
4 {10
4 87½ 4 1'9
4 g;½ H9
487½489
4 87½ 4 89
4 88
4 !-IQ
487~ti89
4 87½ 4 89
4 Si½ 4 89
4&
4 88
4 90
4 tio
4 87
H~gg
!~ gg
4 87½ 90
s.
4
4 b7
4 87
iv~t~
s.
4 82½ 4 85½ 81-1½ 84-4h 81½-~ 85-5½
4 82½ 4 85¼ 81-1½ 1-4-4½
~.
½lB ½ ~
s.
4 86
4 86
4 80
November.
4 83
4 83
!~~
:iMa~
4 86½ 4 90
4 69½
4 89½
4 89½
4 89¾
necember.
;?.r½~f~\ ~?.?½~!~~
~OJ· ~iMt..
4 83
86
s~
4
4 82 4 f!.5
4 82 4 85
4 82 4 R5
4 82 4 85
482½485.½ 482 485
4 82¼ 4 85½
S.
482
1
5
4 85
4 85
8.
84½ 4 87
84½ 4 87
84½ 4 87
4 86
4 87 4 90½
4 85½ 4 83¾ 4 so .
84½-5 86-6½
S.
84½5 88-6½
84-1/4-5 86-6½
at
4
4
4
4
4
4
. . . . . . . . . . . . 4 86
4 87¼ 4 86¼ 4 88¼ 4 Si¼ 4 86¼ 4 85 4 87
4 84
4 84¼ 4 86
4 84 4 86
4 83 4 85
4 83¼ 4 85¼ 4 sa
July.
ai~
4 85½ Holidav.
4 86
4 83¼ 4 86
4 86
4 83½ 4 86
4 86
4 86
4 86
December
:otJ½~tigt
4 83¼ 4 86
4 83½ 4 86
4 84 4 86½
4 84 4 86½
s.
4 84 4 86¾
4 84½ 4 87
4 84½ 4 87
4 84½ 4 t,7
4 84½ 4 87
4 84½ 4 87
4 86½
4 85½ 85 4 88¼
4 85½
85\.t, 4 89
gs 4 85½
85½ 4 89
83½ 4 86
S.
83½ 4 86
4 86 4 89¼
-8.
4 87 4 90½
4 83 4 85½ 4 86½ 4 90
4
4 86
~iigt. :oJ~~i~t. 60d. s~ight. :osg• ~~t.
i : : ~g t rs½ ! ~& i ~~~ 1 i4 ~~ : ~g
8
s.
a~~
1sg~ a+~ a~~ Hol~day. ! ~½ ! sl½ ~ s~ 85 a~~ Lg~ ! s{~ i g
4 87½ 4 90
S.
4 88 4 BA½ 84½-5 !'i6·6½ 4 &2 4 85
4 8.! 4 85
4 81,~ 4 85
4 89½
89
~+~ ~~~
S~ ½
4 87¼ 4 89½ 4 87 4 89½
8.
4 87½ 4 90
4 87½ 4 89½ 4 B'i¼ 4 90
!
s.
Septemb'r.
:oJ· ~~t.
4 83½ 4 85½
4 83 4 85
4 831,(; 4 85¼
4 83½ 4 85}'
86½ 4 88½
8.
86¼ 4 88½ 4 83½ 4 85½
86
~i%~t. :o8~½~iit~ :oJ·
86½-lBf!.½-9
i~·::.
! g+~s.! 8& !4 88~ !4 9038 !4 88~ 28~~88
i
17 . . .
4 90
18 . ... 4 87½ 4 90
19 .... 4 a7½ 4 90
~ii~t.
4 85½ 4 88
4 85½ 4 8~
4 85½ 4 88
4 84 4 87
4 85½ 4 88
4 84 4 87
4 85½ 4 88
4 8! 4 87 4 85½ 4 88
4 84 4 R7
S.
4 St 4 87
4 B6 4 BB½
4 4 4 87
4 86 4 88½
s.
4 86 4 8!3½
4 83½ 4 86½ 4 86 4 88¼
4 88½ 4 Sil½ 4 86½ 4 88½
s.
4 83½ 4 S6½ 4 811½ 4 88½ 4 87½ 4 89½
4 St 4 86½
S.
4 !:!7½ 4 89½
4 8 l 4 1-6½ 4 86½ 4 88½ 4 87½ 4 89½
4 8i 4 86½ 4 86½ 4 88½ 4 87½ 4 89!,g
S. ~ 4 87 4 89
4 Si½ 4 891{
4 4½ 4 87
4 87 4 89
4 87½ 4 89½
s.
r~: :toli!~~ n,tilfi~ 1°i~!lt 1
Of
May.
~01,~·
4 87 4 89
S.
4 J7 4 89
4 87 4 9
4 87½ 4 89¼
4 7½ 4 89½
4 87 4 89
4 87 4 89
S.
4 87½ 4 89½
4 88 4 9t!
4 88 4 9,J
4 88 4 go
4 88 4 90
4 gg 4 90
4 8~
482
4 S2
4 85½
485 \.< ,
4 85½
Jt~rJ£~ rn~1~
~rn~
t½·g
~
4
Bl ½s~
4 81½ 4 85
4 81½ 4 85
8 1-1½ 84¼-5
80½-l 844½
4 81 4 84J.,,
81 1 84 5
·
½·
4 81 4 84 ½
l:S0,½-1 84-4½
1_
!4 8d~ !4 90gg !4 87~➔½ !4 88½
~~½ S2½-s884½-5 ! ~~ ! ~g ! ~i~ i ~ ~i~j ~g:g~ ~~~~ t°i~
4 82½ 4 84½ 4 2 4 85
s.
81½-2 5-5½ 4 80 4 84
8.
4 8.i½ •1 84½ 4 82
4 88½ 4 s2 4 84
4 ~5
s.
~
4 81½ 4 84½ 81½-~ 1'<5-5½ bO-O½ 4 84½
BI½-2 84½-5 Sl ¼-2 i-5-5¼
.
s.
:· a'"~ 1i& i 88½s~ 90 4 88 8~ 90 t~+~: ~g~ : ~+~ gg 4 88 s4 90 ! ~g~ ! ~ H~ ! t ! ~~¼ ! ~½ ~IM~ i~-5 4 8~ ~ 85½ ~~:½ titi
22. . . . 4 88 4 90
:A oliday. 87½-8 ~-90 4 87½ 4 9½ 4 87½ 4 90
4 88½ 4 90
4 86½ 4 88
S.
4 82½ 4 85H 81-1½ 84½-5 4 82 4 85½ 80 1 84-f>
23 . 4 88 4 90
4 88½ 4
4 87½ 4 :,9½ 4 87½ 4 Sil½
S.
4 88¾ 4 90
4 86½
4 82½ 4 H4½ 4 83 4 86 81·1½ 84½-5 4 !:!2 4 85½ 80-1 84-5
~L · 4 87¼s4 89½ ! ~ ! 8890 H~¼
! ~~½ 4 87¼s~ 89½ ! ~½ gg ! gg 4 86½844 8888 82-2½
84½-5 4 83 4 ~
s. 5 4 81½ 4 85 4 so 4 84
1
4
86
26 ... 4 87½ 4 89½ 4 88¾ 4 90
4 87 4 89 4 87½ 4 89¼ 4 88 4 90
4 88½ 4 90
4 86 ,i 87½ ~~~~ ~t:=~
b3 s~
~ sl~ rs1· 4 M~i1al-s
Hol~~ay.
27 . ... 4 88 4 90
4 88½ 4 90
4 87 4 89 4 87½ 4 89½ 87½-8 9¼-90
s.
4 86 4 87½ 4 81½ 4 81½ 82¼-3 85½-6 4 81½ 4 85 81½-2 85-5½ 80-0¼ 84-4½
28 . • . 4 88 4 90
s.
s.
4 87½ 4 89½ 4 ss 4 PO
4
88¾
4
90
!
~
!
~+½
4
81½l
8"½
~2M-3
rJg-6
!
~
~
:
~~
Sl½.z8S5-5½
1
1~~½ ! ~
~:::: :~ gg :::::: :::::: !~~½!~8½ 1g~ag~ 488 l 90 !~~gg 4ti5¾487½ 4s2 485 483 486 481½485
81½-2 s5-5½ 481 485
~~ -
Sl....
S.
. . . . .. . . . . . 4 87 4 89
RangeHigh 4 88 4 90½ 4 88½ 4 90 4 88¼ 4 90
Low. 4 86 4 SQ¼ 4 87~ 4 ~ 4 87 4 89
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
=
. . . . . ". ...
4 87½ 4
Holiday,
89½ 4 88
4 86;. 4 88\i 4 87
t 9~u
.. 8 ..,.
. . • . •• .. • .. . 4 85½ 4 87
4~
4 ~tL
4 8 , 711 4 ""'711
1~ 44 00
.. """7»
87
81½-2 84½-5 . . . . • . . . . . . .
4
85½ 4 87
4, 81¼ 4 8(
4 83
4 82
4 86
4 85
S.
4 83
4. 81
4 86
4 84.
. . . . . . • . . . . . 4 81
4 81
4 82
4 85
4 84~ 4 81¼ 4 85
4 ~ 4 80 4 8'
as
FOREIGN .EXCHANGE.
1887.-There was much interest in the course of foreign exchange during the year 1887 in ~o fa;r as the rates w~re an
indication of the movements in trade and securities. Sterling bills ruled high for a very sh?rt tim~ m February, whil9 t1?-e
freight-handlers' strike in New York prevented the shipments of produce, but they fell off immediately :3-fter that, and did
not again rule near the specie-shipping point. After the first of July exchange ruled low, apparently owmg to the purchase
of our stocks and bonds by the foreign markets, and gold came in freely. During the eleven months from January 1 to Novem"'
ber 30 the net import of gold amounted to $34,306,111
1888.-The course of foreign exchange during 1888 was very much influenced by the rel_atively small exports . of do~estic
products and the heavy imports of foreign merchandise, and on the other hand by the conti1;1ued stream of American railroad
securities towards Europe until the the middle of September. In the fall months the dram of g?ld f1;om London to ~he
Argentine Republic and to Russia also led to a demand for gold from O1:1r market. Under these various mfluences the rat~s
of exchange ruled high at times, and there were small exports of gold m_ l\Iay, June and J1;1ly and a larger export late m
November and in December, the total net export of gold for the year endmg December 31 bemg $20,567,337.
1889.-In the first half of the year rates of exchange ruled high. The imports of foreign merchandise continued large,
and there was an export of gold in the first six months amoun!lng to the net s~m of $37,454,716. :t;n _the latter part of the
year the important feature was the large amount of merchandise exports, p3:rticularly of cotton, which went out to the extent
of some 3,000,000 bales in the four months from Sept. 1 to Dec. 81. ThIB made a large amount of exchange, and reduced
rates, but there was no net import of gold, and on Dec. 30, when exchange rates under the money pressure dropped ~ere ~o
4·84 for demand sterling, the Bank of England advanced its rate to 6 per cent, and checked any movement of gold m this
direction.
ISS7.
~~Y
June.
May.
A.pril.
March.
February.
January.
Mon. 60 d. Sight. 60 d. Sight. 60 d Sight 60 d Sight 60 d Sight 60 d. Sight.
· 4 86½ 4 b8
• S.
8 >½~6 88½-9 4 f.35¼ 87¼-8
1.... Holiday. 85½-6 4 89
85½-6 88½-9 4 85½ 87½·8 86½-7 4 88½ 4 86 4 &7½
8.),½-6 sl 89
s.
2 ....
87-7:½ 8872 -9 4 8(1 4 87½
s.
Si>¼-6 S~½-H
3 .... 4 81-1/2 85-1,,~ 4 85 4 811
85½-tl 8"½-9 4 85½ 87½-8 87-7½ 88½-9 4 86 4 87½
4 •.•. 4dl-½ 85-¼ 4 85¼( 4 81J
S
8-½ 6 88½ II 4 85½ 87¼ 8 8'"' ,..½ 88½ 9
81/
4
85½-tl
5 .... 4 81-½ 85-½
6 ....
7 ...
8 •••.
9
10.::•
11. .•
12 ..
13 .__·•·•·
14
15....
16 ...
17 ....
18 ....
19 . . .
20 ..
21 . . .
22 ....
23
24 ....
4 81½ 4 85½
4 81J.!i 4 85½
81¼-2 85½-tl
8
432-½ 8•1-½
4 83 4 87
4 83 4 87
8 4 87
4 8,3
4 87
48
4 83-½ b7-½
e:;.
4 83½ 4 87½
4 87½
4 83¼
1
4 Ss i 4 87h
4 83½ 4 87½
4 83½ 4 871,.2
4 Sj½ 4 87½
0
S.
4 84½ t:8-8½
s.
85¼-tt 4 89
4 89
8,>½-6
85 16-tl 4 89
85½-6489
85½-6 4 89
4 b6 4 89
_ ~- _11
486 1
.,.., 80 7'-"
4 81:l½ 4 89¼!
4 SK½ 4 SW½
4 i-,6½ 4 89!,<,i
41'6-½ 81<-~~
4 Sv½ 4 A!:l½
s. -
4 88- 4 ';{ 88Jl9
4 87 88½-9
4 8.'!
S.
4 88
8fl½-7 88-81~
4 88
86½-788-~6
8.
86-6½ SS-8½ 86½-7 88-8½
4 86>!! 88-B>e 86½-7 88-8½
4~ti88-ss-st>J18o½-7SS-8,½S
4 OV7'.,
.,., 86½-7 4 88
8.
4 8K½ 88-8½
4 86}6 88 8½ 86¾-7 4 88
86½-7 88-8½
S.
4 86\j; 88-8½ 8•%-7 88-8¼
4 8tJl/2 8~-1-1½ SK½-7 88-8½
86½-7 88-8½ Sfl½-7 88-8½
S.
84½-5 4 87Jt! 81-1½-7 88-8½ 81:l½-7 88-8½
S.
4 tl5 H7½-j 86½-7 88-8½
86}: -7 4 88½ 86½-7 88-8½
4 8,'% 4 88
~ ofjJ.<J-7 88-8½
- s.
4 b6 4 88½
.> - 85½-6 H."½-9
85½-6 88½-9
4 85;1488711
485_,,, 488
4 8->½ 4 &l
4 8u½ 4 88
- 1:'·S
_
85 57'-" 87 72
84¼-5 87-7½
4 84¼ 4 S7
4 84½ 4 87
4 84½ 4 87
4 84½ 4 ti7
4 86
4 86
4 86
4 86
,?
85~-6 4 87½
4 85½ 4 'r<7
4 8~½ 4 87
4 85½ 4 87
485½487
4 85¾ 4 87
'-8.
485¼487
4 8,'}½ 4 S7
4 85 4 86½
4 8'> 4 SK½
4 84½ 4 d!:I
4 84½ 4 SIS
S.
4 84½ 4 86
4 84½ 4 86
4 8-1½ 4 86
4 84 1-6 4 b6
84-4½ 8;}1/4-6
4 s,; ~ 4 89
5
S-1-4~~ ½-tl
'.1
8(j.!,i-7 88-8½ 84-4½ R5¼-6
87-7½ 4 811
S.
S.
8U½-7 88-8½ 8~½-4 86-5½
85¾-0 88½-D ~]J,§-6 88-8!,<,£ 87-7¼ 4 89
83J~-4 85-5½
s.
. . . • • . . , . 8.>½-6 88-8¼ 87-7½ 4 89
Holiday, 4 84 4 85½
87-7½ 4 89
41-?½ 4 &l
........... 86½-7 ss-:s½ ..•. .• ......
4 8.J½ 4 88
S.
4 8,\½ 4 89½
Jl11lictay.
4 R6¼ 4 89½
,~~ ! ~~ : ~g ! ~g i ~~~ ~~ ! ~~:~ ~g~:~ ~~-~~
~g27 :..... tt£~g
4 85 4 8-;½
28 . •. 4_~ 4 ~8½
29 ... so .i:½ &!½-1!
8.
80 . •• _
s1iiaii:~-6 4 89
4 8'>
4 89
R igh 4 81
Low 4 8n
4 8 ~!1 4 88½ 4 85 4 89
4 8ti~i 4 b!),2 -! 84½ 4. 87
4 87½ 4 89
4 87¼ 4 80
4 85½ 4 87½ -1 8cl% 4 88
4 811¼ 4 88
4 83½ 4 85
July
August.
Septemb'r.
60 d. Sight. 60 d. Sight. 60 d. Sight.
4 84 4 85½ 83-3½ l:!5-5½ 4 81 4 85
4 84 4 85½ 4 83 4 85 4 81 4 85
4 83 4 85 4 81 4 85
S.
S.
Hobday. 4 82½ 4 85
H l"1
4 84 4 85½ 4 82½ 4 85
4 84 4 85½ 4 82½ 4 85 4 s1°
4 80~2 4 Si½
S
4 Si 4 85½
4 84 4 8 ½ 4 82½ 4 85 4 80½ 4 84½
4 84 4 85½ 4 82½ 4 85 4 80½ 4 84½
48 , :½485 480¼484½
8.
8.
4 fl4 4 85½ 4.8«½ 4 85
4 8~ 4 84½ 4 80½ 4 85
4 8:3½ 4 l:l5
482 484½80½-185-5½
483½485
80¼-1 85-5½
s.
4 8:i¼ 4 85
4 82 4 85 80½-l 85-5½
4 8::l½ 4 85
4 8:3¼ 8..>-5½ 4 8~ 4 85 80½-1 85-5¼
4 82 4 85 80½-l 80-5,2
w
wS .
S.
4 83½ 85-5½ 4 8.& 4 1:-5
4 83½ 85-5½ 4 82 4 85 80½-1 145-5½
4 8:5½ 85-5¼ 4 82 4 85 80½-l 85-5½
80½-1 85-5½
S.
4 8:3½ 85-5¼
4 83½ 4 85½ 4 82 4 85 80½-l 85-5½
4 83½ tl 35½ 4 82 85-5½ 4 So~ 4 85
¼ ~1~-~ ~~g~ 4 80½ ~ 85
½s
4 83 4 85
8
4 b3½ 4 85¼ 81¼-'l 8 -''½ 4 80½ 4 85
4 83½ 4 85½ 81½-2 85-5,½ 4 80½ 4 85
4 85
80¼
4
S.
85½
4
4 8;{~
4 SS½ 4 8'>½ 81¼-2 85-5¾ 4 SO¾ 4 85
4 88½ 4 85½ 81½-2 85-5½ 4 80½ 4 85
s1¼-2 85-5.½ . ...........
r,.
i8&
October.
60 d. Sight.
4 80½ 4_ 85
8
4 80½: 85
4 80½ 8 5
4 RU½ 4 85
4 80½ 4 85
4 80½ 4 85
4 80½ 4 85
8.
480½485
4 81 4 85½
81-1½ 85½:.e
Sl½-286-8½
4 8~ 4 86½
4 82 4 86½
November. December.
60 d. Sight. 60 d. Signt.
.
~t~~ ~~~
~ 6-6
! S~~ ! g1
~[~~ ~f:l tlt: 4 ~ S~ 8!
gn
"' ,,
82-2½ Su- 61½ 4 0 4 83
81~-2 85k6
8.
82-2¾ 86-6½ !:Sl¼-2 85>2-6
Hohday. 81½ 2 86,1i-tl
82-:&:½ 86-5½ 8172-2 85J2•1l
8~-2½~66½ 81½-~85;,,l 6
S.
St-2½ 86-6½
82-2½,86-6½ 81½-2 85¼-li
Sl½-2 85½-6
~.
82-2¼ 86-6½ 2-2½ 5½-6¾
82-2½ 86-6½ 2-2½ 5½-6½
Sl!-2½ 86-6½ 4 82½ 8ii-tl½
S.
4 82½ 4 86½ b2-2~ 86-6¼ 82½-3 86-6¼
S.
4 82½ 4 86).,i 82-.:'2 86-6½
82-2½ 86-6½ 4 83 4 86'-i
4 82 4 86
4 83 4 86½
8.
4 t'2 4 86
4 62½ 4 86½ 4 83 4 86!-<.
4 82 4 86
b2½-d 4 86½ 4 83½ 86J,l7
4 82 4 86
4 82½ 4 81:l½ 4 83½ 4 87
S.
4 b~~~ 87
~t~
f ~g 82~~1gti½
82-2½ 96-6½
8.l-2½ 4 86
i:l.
82-:t½ 86-6¾
82-2½ 86-~½ 4 82 4 86
4 8:.!J,~ 4 So½ 4 s~ 4 b6
4 82 4 86
S.
4 82½ 4 86½ ............
4 84 4 85½ 4 83½ 4 85¼ 4 81 4 85½ 4 82½ 4 Sfl½ 4 83 4 86½
Sil
4 81>2 4 84¼ 4 80½ 4 84½ 4 80½ 4 85 ~ 4_84
4 8.,½ 4 85
Holiday.
4 88~ 4 ti7
4 8<1¾ 4 87
4 83¼ 4 87
4 88½ 4 87
4 83¼ 4 s1
4 83½ 4 87
4 81>7 4 85¼
IS§§.
Day
of
March.
February.
JanuRry.
60 a. ~ight. ~~ 1 l5 ~~~~7 ~08 1
1
Holiday. 1,1i,:, ;:;so -6-7 4Kfi-½e18-½
2 ...
4 Sl·\.-i St;➔~ 4 86-½ 88-½
8 ... . 4 d3½ 4 87
~
9.
4 8 F ,1 oll J.i
4 .... 83½-H 87
1
4 8 H-1 8R-½
s.
5 .. . 8¾--1½ 8, 7¼
184-½ 8G-~.i 41-16-¼ 88-¼
6 ... 4 8! 4 87
t ,l ~~
¥~~:
L: 8i-4!,<£l7-n:J
87½-8
4 8ti
4 SB
87-7½
13 .. .. 84½-5 87-7½
14 .... 84½-587-7½
8.
15.,. •
16 ... 8"1½-5 87-7½
17. •• 84½ ~ 87-7½!
18. .. , 8<1½-h 87-7½
19 •. , 84½-5 87-7½
20 . .. 4 85 4 87¼;
21 . • · 4 85 4 87½
9 ••. 34½-5
10... 4 85
11. • • 4 1"$5
12 ... 4 85
it:~~~~
!~t~ rs~
4 l"l4 \,~-4 8 I½ 4 86-½ 8-;-½
4 tH½ ,i 86½ 4 86-½ 88-½
4
ti'!½ 4 Sn½
s.
4 87
485 487
4 85 4 87
4 'l,' \-½ 4 3'i
4 85--½ 4 87
4 85--½ 4 87
s.
4 85--½ 4 87
4 l:>5½(87-),6
4 85
~.
4 8fl-¼ 8'Y!J
4 86--½ 88-½
<\.pril.
8
60 d. ~1ght.
488-½88-½
4 8 1-½ 88-1/2
4 86-1).' 88-..,,
4 86-½ 8-<-½
4 8tl-½ 88-½
4 86- 88-¾
4 86-½ 88-½
4 86-.,,, M-½
4 Su-¼ 88-½
4 8U-¼ 88-½
4 8~½ 88--½
486-½88-½
1
4 85½ ~7½-8 4 85½ 4 Si½
4 8~½ 87½-8 8~½-6 l-i7½-ti
4 Sa½ 87½-d 8.J!,!i-6 87½-8
S.
4 85½ 87½-8
4 85½ !:-i7½-8 85¼-6 87½-8
28 ... 4 85½ 87¼-8 85½-6 87½-8
85½-6 tsi¼-8
S.
29....
80 .... 4 85 4 87-½ .. , . . • . .....
•, • , •
· ,, ,
31'.ii~iii~½ 4 81:l½
48U-½S8-¼
t;.
4 86-½ 88-½;
4 86-½ 83-½ 4 86-¼ 88-½
4 St!-¾ d8-½ 4 Sfi-.½ S'Yfi
4 86½ 4 88½
s.
4 86-½ &Ht! 4 811½ <;, 88½
4 86-¾ 8~-½ 4 86½ 4 88½
4 8!1½ 4 &,½ 86;,s-7 88½-9
s.
4 8\31,6 4 &%
4 8G¼ 4 88½ 4 87 4 89
4 ~tl½ 4 88½ 4 87 4 80
4 87 4 89
::,.
4 86½ 4 88½ 4 87 4 89
4 86½\ 4 88!~ 4 87 4 89
4 1-<tlJ.6 4 Bs½ 4 87 4 89
4 8ti¼ 4 88½
4 8tHf! 4 88~ 4 87 4 89
4 86½ 4 88½ . . . . • .. . . . •
4 86
High 4 8;,½ 4 RR
Low.I 4 83½ 4 86¼ 4 84
4 86½ 4 88½ 4 87
4 86 4 88 ~ 4 86
22. ...
23 . . ·
24 .•. ,
25 ...
26 · · ·
27 .• ,
s.
I loltctay.
4 88
4 8tl
s.
4 89
4 88
g~~~7 i~~~9
June.
~o8~½~iitt.
a~
!~J
May.
July
oo d. 8~ight.
August.
Septemb'r.
s.
487½48!!-½ 48tl 488
86½-788½-9 487¼490
Holictav.
4 87¼ 4 8!:l-¼ 8-5½-6 4 88
S.
86½-7 88½-9
Holiday. 85½-6 4 88 4 85½ 4 88½
4 87\.ii 4 90
4 b7 4 KU
:4 81½ 4
44 88-71½ 44 89~'1 44 88~,¼,;-;, 4488~,--~ 8511L-684.
4 87 s4. 89
,,,.
, 7"-"
~
"'r.!
88 4 85½ 4 8
:~~~ 487½r9-½ ~~il~ 4485½4~
:~~~~
85
½
½:,~
4 87 4 Stl½ 4 87½ 4 89¼ 4 Si½ 489-¾ 85½-6 4 88
4 87½ 4 t-9-½ 85¼-6 4 8~ 4 85½ 4 88½
8.
4 87 4 89½
4 87 4 89 ~ 4 871,<i 4 891.6 4 87½ 4 89-½ 8:5½-o 4 88 4 85½-! 88}1?
4 85½ 4 &,½
4 87 4 811½ 87½-o 9½-96 4 87½ 4 El!-½
87½-8 ll½-!10 4 87 ½4 89-½ 4 85½ 4 88 4 ~5½ 4 89
S.
487 400½ 487½489½ 487½48tl-½ 85-½87½-8 48 ½489
ti5-½ 87½-8 4 85¼ 4 89
S
86½-7 89-¼ 4 !-17½ 4 oH½
8.
8l½-i 8Y-½ 4 Si½ 4 89½ 4 g;½ !89-½ 85-½ 87½-8
4 87½ 4 8 •-½ 85-½ 8i½-8 4 85½ 4 89
S.
4 87 4 89~
4 8, 4- 81}!,;S 4 87½ 4 SA¼ 4 87½ 4 89-½ S5-½ 87½-8 4 85½ 4 89
4 85½ 4 89
s.
4 87 4 89½ 4 87½ 4 89 :'; 4 8; ½ 4 811-½
~ 4 Si¼ 4 S•t½ 4 87½ 481-1-½ 4 85-½ 4 88 485-½ 88){-9
S
4 87-½ 4 90 4 g71,;' 4 b,.½ 4 87¼ 4 89-¼ 4 85-¼ 4 88 4 35-_½ 88½-9
4 85-½ 4 88 4 85 88Jli-9
~s
4 87½ 4 Sill/,
4 ti7½ 4 91)
S.
4 o7½ 4 89½ 4 87½ 4 89-¼ 4 85½ 4 88'-9
4 87½ 4 l!O
- 4 87 - 88½-!:l 4 85½ 4 88½ 4 85 8'%-ll
-S.
4 87½ 4 90
4 87½ 4 RP¼ 4 87 88'i-!1 4 S5½ 4 88¼ 84½-5 8 ½-9
4 87½ 4 IJO
84½-5 S-,½-1.1
-s.
4 87½ 4 &m~ 4 87 88½-9
4 87¼ 4 90
4 1-17,,; 4 8\ll~ 4 86!,i, 4 88½ 4 85½ 4 88½ 8 l½-5 81%-ll
4 87½ 4 1:-9½ 4 86½ 4 88½ 4 85½ 4 BB½ 84½-5 8H½-9
4 87½ J 90
4 85¼ 4 88¼ 84¼-5 88½-9
87-7½ SIJ-9½
4 87½ 4 90
S.
Holiday, 87-7¼ 89-9¼ 4 SR½ 4 88½ 4 85½ 4 &l½
4 85!,2 4 88½ • • .. • • . • • . • •
.. • .. • .. • • • • 4 ~6 4 88
4 87½ 4 90
:-;sa
s.
0
s.
s.
4 88
4 87½ 490
4 8cl½ 4 1,8½ 4 87
4 90
4 89
October.
~OJ. ti~t. io8g½~1~~~ t>J:5 ~~-~
4 87½ 4 89½ 4 86
4 85
4 86 4 88
81½-588½-9
84¼-5 St<½·ll
4 8P>!i 4 89
4 84¼ 4 811
4 84¼ 4 89
s
489
4
4 ~!~ 4 89
4 84½ 4 8,1
4 84½ 4 89
4 S4½ 8-1½-9
4 84½ 8ti}2-9
S.
4 841-6 88¼·9
84½'.5 88½-11
84½ 5 S-.½-9
84½-5 88½-9
84½-5 88½ 9
84½-5 88½-9
• S. w
84½ 5 88¼-9
84½-5 88½-9
84¼-5 88½ &
84½-"i 88½-11
8.!¼-5 4 Ni½
84}6-5 4 BS½
- S.
4 84¾-4 88½
4 8~ 4 88½
4 8.:> 4 88½
:~½ ~1~~~-
November. December.
:o8g. 1i~~~
s.
485-½48S½
485-¼ 488½ 4 851!! 4 89
4 Si% 4 89
S.
48~ 488½ 85-½ 4 89
Hohday. 85-¼ 4 89
485-¼488½ 85-¼ 489
85
:~~
1:~
-½
s:" SIJ
4 85-½ 4 i:sB½ 85-½ 4 89
85-½ 4 89½
8.
4 85-½ 4 i;s~ h5·~~ 4 89 ,
4 Si'>-½ 4 88½ f-5-½ 4 89¼
485-½488½, 95-½ 489½
4 ,-5-½ 4 8-1¼ 85-½ 4 8Y½
8.
48-J-½ 4i-:8½
485-½ 88½-0 85-¼, 4 89~
Sb-½ 4 89¼
8.
85-½ 4 89¼
4 85½ 4 89
85-½ 4 89¼
4 r-5½ 4 89
85-½ 4 8\l½
4 85'-' 4 89
b5-½ 4 8&¼
4 85½ 4 89
S.
4 85¼ 4 89
85-¼ 4 89½
4 85½ 4 89
t'l .
4 85½ 4 89
4 85½ 4 89
4 85¾ 4 ~9
Holiday.
Holiday.
85- 14
85-½
84½-5
84¼-5
4 t--9~ '
4 89ii
89-½
89-½
S.
4 85½ 4 8V
•• , . ., • • . .. . 84 ½..-5 Sil-½
4 85½ 4 89½
4 85½ 4 89
4 85 4 89
4 88½ 4 85½ 4 89
4 87½ 4 84½ 4 88½ 4 84½ 4 88.½ 4 85 4 S8½ 4 84½ 4 89
1889.
Day
of
J anu!lry.
February.
1t_~~: 60a~iii~i;~t. :oq~· ~9~-i~
April.
M,trch.
~08~. ~ilf,~~ :08~. ~~~~
2 ... 84½ -:1HW-ll½4S7 8A%48i <1.a(lH487
4 87
S.
S.
8 •••• d4½i-5 89-?½
7 .. ·
8 .••.
9 ••.
10 .•••
11. ••
12 ••.
13... .
14 .•••
85-5½ 89-9½
85-5½ 89-\U,2
4 35½ 89-9~
4 85½ 8\.1-9½
85½-ti 1:19-1<½
85½-6 89-11;,,
8.
85½-6 4 89
6
~:::: r~- HI
81{-6½ 8\.i-P½
4 86½ 4 89½
8.
86½-7 4 89¼
8H½-7 4 89½
86¼-7 4 1-9½
4 87 4 8\l½
25 . . 4 87 4 81·1½
26 ..•• 4 87 4 89),;S
S.
27.. . .
28 .•• 4 87 4 89½
29 .••• 4 87 4 1-9½
80 .••• 4 87 4 89~
31Rani:l 4 89
18.• ,,
19 .• ••
20 . • ,
21 . .• ·
22 ....
23 -.
24 ....
86!,,i-7 4 89
8'1½-7 4 i-<9
81.i½-7 4 81J
s.
86½-74149
~W,.,;-7 4 f-9
80½-7 4 89
8t1½-7 4 89
86½-7 4 89½
Sfl¼-7 4 8>-1½
86½ 7 4 89½
s.
4 86½ 4 89½
4 8fl½ 4 8\i½
4 SR½ 4 89¼
4 811½ 4 S9½
:3.
4 87½ ll½-90
87~-8 9½-!lO
87½-8 9½-90
87½-811¾-90
87½-8 9¼-90
87½-8 9½-1/0
S.
86¼-7 89-0,n
4 87 4 H9½
4 87 4 89½
4 87 4 8 9½
llolidny.
4 87 4 89,¼
S.
4 87 4 RA½
4 87 4 89½
4 Si 4 8fl½
4 87 4 89½
.. .. . . .....
............
• . .. ..
4 8~½ 4 89½
4 86½ 4 811~6
4 86½ 4 t-9½
4 Stt½ 4 Sil_¼
4 86~ 4 Sit½
4 86½ 4 89½
S.
4 Rfl¼ 4 89½
4 86½ 4 8(1½
4 86½ 4 89!~
81'1½-7 4 89½
4 87 4 89½
4 87 4 89¼
s.
87½-8 9½-90
87!,1!-8 9½-90
87½·8 9½-90
- S. 87½-8 l:l½-90
87½-8 9½-90
87 1,-8 9J,~-90
87½-8 9~-90
87¼ S 0½-90
87¼-8 9½-90
S.
87¾-8 9½-90
~s;
ooJoH~i::.t. :o8i. i~~o
489½488
4 8 ➔ ½ 4 &,
4 88
~~ ~i-~~ ~~~-r ! ~i~ : ~~~1 ~9~
!SH½-7489
... ttti-·s.t~-~~
t·6::::
86½:7 481l½ 487½9½.:'90
·
408
4 8➔
4 88
4 88
4 88
4 88
4 88
4 88
~~~=;s~!~~ : ~8 ~~~ i~ijUij=!8 !!
4 88
4 88
4 88
4 ti8
4 88
4 88
4
4
4
Holiday.
. • • .. • . • • . • 4
9½-90
l:l½-90
9 9
s ½- 0
9½-?0
9½-90
9½;-110
9½-llll
9½-90
9½-00
S.
9½-90
9½-90
4 8-l
July
4 88
4 88
4 8➔
4 88
4 88
1g=e8 ::
9½-90
1!),6-\lO
8.
l:l½-90
9½-90
9½-90
A½-110
9½-110
8.
87-7½ 8"%-11
87-7 1-2 8:3½-9
87-7½ l:l"½ ·IJ
87-7½ s--¼-9
87-7¼ 88½-9
87-7½ 88½-9
S.
9½-90
S.
9!,6-90
9¼-90
9:½-110
9½-1-lO
!:l½-90
9½-~0
S.
9½-90
9¼-9')
9½-90
88
88
8➔
et:=~ 1
October.
November. December.
~~~ g?J~z ~i~lt. 60 a. 8~tght.
Hollclay. 83¼-188-8½81¼-2486
S.
SUii-5 4 88¼ 4 Ra½ 4 88
81-1½85½-6
4 Sl 4 8.'l½
~~ ~ig~ ! ~ 8 ~~11 86 ! ~½ ! ~~
!48~~~ !48--¼
Sl½-2 llri 481 485½
- s.
4 85
88½.:.u 82½-3 87-7½ 81½-2 85½-R
82½-3 87-7½ 81-1½ 85¼-6
83-~¼ 87½-t! 81-1½ 85½-6
s.
4 83-4 87¼-8
88¼-4 4 So Sl-1½ 85½-6
4 S3½ 4 88 81-1½ 1<5½-A
81-1½ g:,½-6
S.
4 83½ 4 88 4 81½ 85½-6
8-
4 85 88½-9
4 85 88½-9
85-f;½ 88"ll,-9
85-5½ 4 811
4 85½ 4 89
4 85½ <! 89
8
4 85½
s.
4 81 4 85½
4 81 4 85½
Sl l¼ 4 85¼
81-1½ 4 85 -6.
81-1½ 4 85¼
Sl-1½ 4 85¼
4 81
s:~~:~ iHij i~ij=i Hg~ tHgg~ Hi ~~l itt~ ~1~=~s~g~:g ~tnlHg~
9,½-AO
9 1<"-90
ll¼ 90
8'! 11½-l:!0
88 9½-90
S.
4 88 9½-90
4 es t'½ -110
4 88 ~l¼ -90
871-1!-8 89:9½
87½-8 89 11½
87½-8 89-9½
4
4
4
4
4
Septemb'r.
~~t. 60 d. 8~1ght. ~o8f
488
4 88
8
4 86 -i 88
486 488
4 86 4 88
85½-f\ 4 &s
4 8l½ 4 88
4 85½ 4 8.:l
s.
4 85½ 4 88
4 85½ 4 88
4 8 >½ 4 88
s9.1L_9o 's87i~-':~~99_99J148tl
,.. ,., ,.,
,-..1
72 4 86
4 i't!i11o
!48-l~~ iq:~g
9½-t<O 87-7½8::l½-9
4 8-l
4 88
August.
~~~~q ~~g_~~ ~o8g.
87-7½ 8!'!½-9
87-7½ 88¼-11
87-7½ 88½-9
S.
87-7½ 8~½-9
87-7½ 8"!½-9
87-7½ 88x.-9
86½-7 88-8½
811½-7 8B-H½
86½-7 88-8½
88
S
88
SR-6½ R7½-B
88
SM¼ 87½-8
S,
Holida.y.
stj 9½-90 . •• • • • • .. • • • 85½-6 87½-8
4 88
IJt : ~: i~¼ : ~iii~ : ~lil : ~~~ : ~ : ~~ t ~
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
June.
May.
~½
8.
4 85½ 4 88
4 85½ 4 88
4 85½ 4 88
85-5½ 4 88
85-5½ 4 88
4 85 4 88
s.
84-4½ 87-7½
84-4½ 87-7~
4 8!'<> Si¼ o
4 84½ 4 sif
4 84½ 4 81-1½
4 84¼ 4 88½
:½ :~~~ t ~
t ~g 1
4 85½ 4 89
85-5½ 8~½-9
84½-5 88~-9
d<i½-5 88½-9
s.
84½-5 4 88½
84'-9-5 4 88¼
4 84½ 4 8·<½
4 84½ 4 SK½
4 St½ 88½-9
4 84½ 81,½ 9
s.
4 84½ 88½-9
. . . . .. . •..•.
82½;-8 87 7½
82½-3 87-7½
S.
82-2½ 86½-7
82 2½ 86½-7
82-2½ 813½-7
8'.l-··½ 86½ 7
82-2½ Sti½-7
8:.!-2½ ti6½-7
S.
g ·, 21i; Sq½ 7
!:lt~i2 4 !¾I8P,g 2 4 Sf!
s1½-2 4 86
81 ½-:& 85¼-A 81-1½ 4. 85¾
81½-2 85½-6 Si-l--1> 4 85½
1-<l!,2-2 85½-K 4 81½ 4 85¼
4 Sl~ 85½ 6 4 81½ 4 85½
s.
4 81½ 4 ~6
4 81½ 4 80 4 bl½ 4 fl5~
4 8l¼ ~, 85xi
R.
Holiday.
4 81½ 4 So
4 81½ 4 86 81-1¼ 85-5½
4 811,,, 4 ~~ 81-l½ 85-5½
Holi!la_y 4 81 4 85
s.
4 s11<i 4 3f:i
4 81¼ 4 86 4 80½ 4 84¾
__ ..•• • •.••. 4 so 4 84
1~¼ t ~ t ~½ t it½ i ~~ t ri t ~½ t ~~½ ! :
FOREIGN EXCHANGE.
39
1 1890.-Sterling exchange open~d the year at very low figures, with the Bank of EJ?-~land rate standing at 6 per cent and
money close in New York, and 4 80½ was the posted rate for bankers' 60-days' sterling. But as money relaxed exchan~e
soon recovered and rates advanced to 4 84-½ early in February, though falling to 4 81½ by the end of that month. From this
point rates went up to 4 86½ in April, back to 4 84 in May and up to 4 86 in June, when _gold exports commenced. ~here was
a large amount of securities returned from London to New York after the South American troubles began. Our silver purchase law of 4 500 000 ounces oer month also became a law on July 14. In the two months prior to August 10 the exports of
gold reached about $16,000,000. In the la.st half of 1890 the rntes of excbang~ fro~ week to week depe~ded _mai~ly upon the
condition of monetary affairs in New York and London, and were closely alhed with the general financial s1tuat10n. In December about $5,000,000 of gold was imported from London.
1891.-Sterling exchagne opened the year at moderate prices, the bankers askµig 4 SO½ for 60-day bills and 4 85 for demand. But rates quickly advanced and at the end of the month asking rate-, were 4 86@4 88, and from thi:;; time forward they
were wen maintained until August. After this date exchange ruled low during the balance or the year and the imports of
gold were continuous from September forward, the net amount imported exceeding 835,000,000. In the first seven months of
the year the exports of gold, which began in February and lasted till near the end of July, amounted to $72,787,000 net.
1892.-The ratPs for sterling exchange ruled high in New York dunog most. of tbe year. T,w tont> wa~ easy earl.v in
January and the highest asking rate for b:1nkers' demand bills was 4 87 at the close of the month. But from February to
December, inclusive, there was no month except October in which tbe posted rate for demand bills did not go as high as 4 89,
though the rate on actual business was of course lower. The exports of merchandise in the first six months of the year
exceeded imports by about $48,000,000, but still there was a net export of more than 35½ millions gold, while in the la t six
months of the year the net exports of gold exceeded $23,00C,000, a sum quite unusual for the last half of the year. The
small amount of commercial bills offering against shipments of cotton and produce and the continued heavy imports of
merchandise were the chief causes for the relatively high rates of exchange.
1890.
Day
of
January.
February.
March.
?,1. on.60 d. Sig-llt. 60 d. Siirht. 60 d. Sight.
i·:::
l
2 5
8
4 ro~ig:~-5 8!-•.HtS:l- ¼ Sl¼¼•tJ
April.
May.
June.
Julf
August. Septemb'r. October. November. December.
60 d. Sight. 60 d . Sight. 60 d. Sight. 60 d. Sight. 60 d Sight 60 rt Sight 60 d Ril!ht 60 d Rie-ht 60 d Signt
fsi½ fs+¼ 4 85 s4 87
8:?~?!i~~!ii~
~i8J~ Sl-1½;~½-B
~~g'2 r~
L: ! ~g~s~!~:ci !ag i~~ij !1i~ J!~l H~S iu
~;~:~ ~~~~
;5~:¼s:7~:½
6 ... 80½-18H~-5 Sl-4½ 8~¼) 4 8~½ 87-7:½
d.
85-5½ 8";-7!,g 85-5½ 87-7½
S.
7 ... 81-1½ 85·5½ &-4½ 88-8½ 8-3-3½ 86¼;-7 85½-6 8<µ!½ 85-5½ 1'!7-7½ 4 85½ 4 87½ 4 R5 4 RR½
8 . ••• 82-2½ 4 86½ 84-!¼ &:k:S½ 83-3½ 86½-7 85~-6 1"8-8½ R5-5½ 87-7 "9
S.
85-5½ 83~t9
5
18.:::
4 84 s4 sq S3-1~i\ 86½
Jl9x.
11 .. . 4 83 4 87
8 ,i ¼-4 87½-8 8{½-3 86-fl½ 86-fl½ AA~-9
$.
- 4 St! 4 8-l~ 4 85!,14 89½
12 . . .
S.
83½-4 87½-8 82½-:-! 86-6½ 86-6½ 88½-9 1'!5-5½ 87-7½ 4 86 4 8-l:-13 4 85½ 4 b9>9
13 .... 4 83 4 87 81¼!-4 87¾-8 4 8~½ 4 85½
15.
85-5½ 87-7½ 4 86 4 8-1½
S.
14 .... 82¼-3 8~¼-7 83½ 4 87¾-li 4 St½ 4 S5½ 4 86 88-l'!½ 4 85 4 b7
4 86 4 88½ 4 85¼; 4 89½
U11½ :St~ ~t~~ ~tJ~ ~~j if~~ ~Bi::i
~~:~½ ! ~;½
15 ...•
16 ...
17...
18 ...
19...
20 ..
21 ..
22 ....
~
82½-8 Sfl½-7
8~¾-3 8>1½-7
82½,-3 4 87
8~¼-3 4 87
8.
82¼-3 4 87
82¼-'H i-17
82Jj~487
• •• ~ ; i ~
25
tlJ~
83-3½d7-7¼
26 . . .
S.
27 ••. 4 S4 4 88
28 . . 4 84 4 88
29 . i 84 4 88
80 .. . 84-4½8~'"¼
'J}i~~:~¼ 88-8¼
SdJ,6-4 87½-R
8.
83½-4 87¼-8
88-1½ 4 87½
83-3½87-7¼
83-3¼ 87-71,q
83-3\i 87-'7¾
Holiday.
4 8~½ 4 85½
S.
4 82½ 4 85½
82-2. Xi 85- >½
483 48tl
8 ➔-~½ 8tl-6½
A3-3,½ 8 '-1%
8d-3¼b6-6~ti
8
82½}8'1½-'1 48!'!½ 4 SA!,s
48:t¼4Htll,g
82-2½ 8~6½
8~2~ P6-f1½
8lxi-.: 85.½·tS
8{½-481\½-7
4 8419 4 87¼
HH-11-5 H7¼-8
4 85 87½-8
4 85 87¼-8
.• .•• •....•
S.
• • . . . • • ••..• 4 85 ~ 8'7¾-8
4 StS
4 86
4 86
4 8'3
486
8-1-8½
4 8~
4 8~
4 8-l
408
8t½-5 86½·7
4 8\:½ 4 SJ½
4 8±½ 4 86½
S.
8i-1½86-6½
S.
4 8l 4 86
4 86½ SR-8" 4 8t 4 86
413~5~R½ ~8t 48a
t4Rfi
~~ ~~
483
4 83
S.
4 86 4 SR½
4 86 4 88'1i
4 86 4 8~½
488 48-l½
4 86 41? ➔~
SS½-6 83-b½
s.
4 85 4 81}½
85·5½i H9-9½
85 5½ 89-1!½
85-5½ 1:19-ll½
85-5.½8,!-9½
S.
85-5½ 89-9½
85-5½81-Sl¼?
~5½-641'~½
85-5½ 4 88~
85-5~ 4 8-l½
85-5½ 4 88!,ji
:,.
485 488½
.. . • .• . ....•
485 1,<i4H<ll>!i
4 tj5½ 4 89¼
.
4 F5~ 4 fl9¼
4 1-5~ 4 >-II½
4~~"9489'-(i
4 80½ 4 89¼
ai :: ~g~1 ~~~~ ~~~ l s~t!
S.
4 IH
St½-5 86½-7
8-l¼-5 H6½-7
4 8fl 4 8'3
85-5½ 7-i½
4 85½; 87¼-8 85-5!,ji 8 "-7½
85~-tl87¼-8
Hollda.~.
. . . . .• . ....• 85-5½ o7-,¼
s.
t~ ~~~=8&
~t!~ i1;
~~~~
iiiH !HJ 1: a::;: ~~ij i~~=edlt r~; ~~~~s; t
0
9
!I;- kfl
2
:~~i!;~
85½181l½-!:IU 4 83 4 86½ 82½-3 4 8, 81-1½ 8'>½-6 81-2 85-6
1
85-5½ 811-ll¼
S.
82-~½ Si-7½ H0 i·l l'i5½-fi
S.
4 85 4 8\J 82½-3 86-6½ 4 St 4 87 80,¼i-l 83}f-6 80-l 84¼-5
4 85
89
~J~ ~ ~~
4 so1,b 86
~~
84½-5 88½-9 82-2,½ 85¼-6 4 82 4 87 4 811½ 4 81 80-1 84-5
84-4½ 88->i½ 4. 82 4 8,'\¼
S.
4 SO '>!i 4 8fl 79½-1 84-5
8!-4½ 88-8½ 4 8& 4 :;5,½ Sl½-2 H6½-7 4 801,f 4 8fl 79½-I 84-5
4 8!½ 4 88½
S.
81-l½, 811-6½ 80-'l½ 85½-fl
S.
4 8±½ 4 8~½ 4 82 4 Si½ 4 Hl½ S•~o½ 80-0½ 85¼-6 7i:l½-l 84-5 f
4 8±½ 4 88½ 81½-2 85-5½ 81-1~ 86-•1½
S.
80-1 84-5
t,.
i:H½-2 85-n½ 1:'l-1 ½ 8·1-fl½ 8'1-0¼ 4 87 8.J-1 84-5
4 g4½ 4 f:8½ 81¼-2 8.>5i,,; 81-l}n 86-6½ ~0-11½ 4 87 80¼-l 85·5¼
48± 488 Sl~-~8-55½
-S.
-8·>-0¼k7-i¼8l-1½85-5_~
4 8! 4 88 81½-2 85-5½ 81-1½ ~il-Gi... 8 l-11¼ 87-7½ 81-1½ 85-5¼
8 l¼-4 87½-R
- S.
- Fil-l½ 8 -6½ 80·0½ 4 87~
-S.
483½81½-78l¼-285-'\½81 ½286~-7800½48i½81l-l S5-5¼1
l
!
!
!
~8:i
! ~;
SJ¼l ½- ~~=i~ ~t~~:
81½-l4 RS
l
481½;487 8l-1¼4H3~48t 8<%-71-22'!):-8-8½ Holict~
.
4 83¼ -! 87 81-1½ 4. 85 ,_,;
S.
4 flt 4 &3,¼i 80-0½ 84
8 l-l½ 81¼-7 l:ll-1),fi 4 85½ 81½-2 86-fU,i Holiciay. 80-ll½
8 !½-3 86..fl½
S.
81½-H~ti-6~ 82-2'-(i 4 8-l½
S.
St½-'-! 88-6>2 4 81¼ 4 83 81¼-2 86-ll¼ 8?2¼ 4 88½ RrJ.0½ 84-4~
82,½-388-6½482 486 81-1~85!>-i:.6
S.
8>·U~81-4
S.
. . .. . . . ..... 81-1}~ 85½-tl . . .. . . . , . ..• 80-0½ 8H
4
5
7
~3~f Lt.s
~i t~=~
f 6~~: ~~ ! ~~ ! M~ : ~t: : ~~½ : ~~½ ! ~~½ ! ~½ : ~~½ t 9J½ : t½ : ~~ ! ~~ ! ~~½ ! ~~~ ! ~g ! ~~ ! ~½ : ~r ! rs¼ ! ~~½ : ~~ : ~i~ : ~
1~91.
Day
of
.January.
February.
March.
April.
May.
June.
July
August. Septemb'r. October. November. Decemoer •
.Mon •. 60 d. Sight. 60 d. Sight. 60 d. Sigllt. 60 d. Si11:ht. 60 d. Sight. 60 d. Sight. 60 d. Sight. 60 d. Sight. 60 d. Slgllt;. 60 d. Sight. 60 d . Sight 60 d. Sight
1 •••.• Holiday. 85-5½ 87-7½ 86- ¼ 83¼-ll 4 87 4 !<9
S.
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INVESTMENTS.
INTEREST
AND
INCOME
TABLES.
In purchasing securities for investment, the important points comidered are the following : first, that the
principlil and interest shall be secure beyond question ; second, that the profit, or annual rate of interest realized
on the outlay, shall be satisfactory; third, that the securities purchased shall be readily salable; and, fourth,
with parties engaged in active business, that the securities shall be available to pledge as collateral for loans in
case it is desired so to use them.
As a general classification of the 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 the U. S. Government bonds, State bonds,
city bonds, county and town bonds, and the stocks or plain bonds of corporations, and among these, it may be
remarked that bonds of the United States and of the different States have decreased rapidly of late years in the
amounts outstanding, while the bonds of cities, towns and co{inties are largely on the increase, and are treated
of very fulJy in the State and City Department of the CHRONICLE each week, and at greater length in its STA.TE
.A.ND CITY SUPPLEMENT. In the second class belong the mortgage bonds of railroads or other companies and
real estate honds and mortgages. The distinction between the two classes of securities is mainly import
ant in presenting to the investor the option of trusting to the probable permanent stability and solvency of the
government or corporation issuing a stock or bond, or, on the other hand, of trusting in the value of a speci:fi ed
piece of property in a certain location, on which his bond is secured. The circumstances pertaining to railroad
mortgages are usually ascertainable to a certain extent, as the earnings and :financial condition of the respective
railroad corporations are more or less known.
INTEREST
AND
INVESTMENT
TABLES.
The tables following show (in the "Compound Interest 'rable") the accumulation of principal and interest on one dollar a,\
ra.rious mtes pe.r annum from 1 to 10 per cent, interest being compounded semi-annually, and (in the "Tables for Investors,.
ihe rate per cent per annum realized on securities purchased at various prices, from 10 to 300. Thus, by use of the table&, it is
Geen at a glance that a 7 per cent $1,000 bond purchased at 86 pays 8·13 per cent a year on its cost. '.i:he accumulation of prin.,
cipal &.nd interest is seen to be in five years $1,410·50, in ten years $1,989·70, which in this ca."le would be the result of an outla.p
r4 $860, provided the interest was re-invested semi-annually.
COMPOUND
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I
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4~ per
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TABLE.
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The following ta.ble shows the rate per cent of annual income to be realized from stocks or bonds bearing any given rate of yearly dividends or interest, from 1 to 20 pe:r cent, when purchased at various
priees from 10 to 300 per cent. This table applies equally well to both stocks and bonds, and has nothing to do with the length of time which a bond has to run to maturity.
~ For example: To ascertain what rate of annual interest will be realized on a bond or stock which bears 7 per cent per annum and can be purchased at 92 (i. e. at 92 per cent of its par value, whatever
the 1>ar may be), find 92 in the column of '' purchase price" and follow that- line across to the column headed "7 :i;er cent," which will show the,.correct figures-in the present instance 7·6o per eent,
Parchase Price.
.
-
1 l per 11½ per
cent.
cent.
,1
'ro
·······················
15 ......................
20
22
24
10
6·6(1
5
4•54
4·lfj
••• •• ••••••••••••••••e•
········
···············
·······················
26 ··········· ············ 1
·················· ....
3"84
3·57
3-33
3·12
2 94
2·77
36
···········
.
.
.
··
1
2·63
38
2•50
,
40
2'38
42
2·27
44
46 ....... ,............... 1 2·17
2 · 03
48
2
50
1 '96
51
1 92
02
1·8s
63
•••••••••••••••••
••··
1
1 ·85
54
1 ·81
55
1 "78
56
1·75
57
68
1 72
1 ·69
59
60
1 ·66
61
....... 1"63
62
1 "61
.
63
1·58
6 -l
1 56
...
6S
1·53
66
1 ·51
67 ~-·····
1·49
68
1•47
69
1·44
'70
·1·42
'71
1 ·40
'72
1"38
28
·······················
...............
······
84
80
82
·················· ... .
··•··· ················
...................
........................
~
······· ················
.......................
·············· ........
·······················
··········· ············
·······················
·······················
·······················
·······················
...... ········ ······ 1
·······················
·······················
·······
········
...... ..... . . I
······
········· ···
····
···
···········
· .
.......................
·······················
···············
:·::::::::::::::::::::: ~
:::::·::::::::::::'.:::: I
m!::!!::>:::::::::
rn
, . : ::: ::: :·: : : : : :I ti
1
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86 ... ········ ......... .
1·17
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!! ::: .::::::::::: :::: ::::
rn
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
l
I
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I
I
I
I
I
I
15
10
7 · 50
6 81
6 ·25
5 76
5 ·35
12cent.
per
I
5
4 "68
4-41
4·1ti
3 · 94
3 75
3·57
8"40
3"26
3•12
3
2 ·91
2 ' 88
2 83
2 ·77
2·72
2"67
2 · 63
2 ·58
2 · 54
2 · uo
2·45
2·41
2 · 38
2·34
~-30
2·27
2·23
2·20
2·17
2·14
2 ·11
2·08
2·05
2·02
2
1 ·97
1 ·94
1 ·92
1·89
1·87
1 ·85
1 · 82
1 ·so
1"78
1"76
1·74
1·72
1 · 70
1"68
.l•fi6
I
I
I
I
20
13 ·33
10
9 ·09
8·33
7·6!)
7•14
6·66
6·25
5 88
5•55
5·26
5
4 · 7G
4 -5-1
4 · 34
4'16
4
3·92
3·84
3·77
3 •70
3·63
3·~7
3·50
3·44
3 38
3 33
3 ·27
3 •22
I a·n
I
I
I
3·12
3·01
3·03
2 98
2 94
2 ·89
2 ·E15
2·81
2·77
2 73
2'70
II 2½cent.p~rl
I
I
I
l
I
I
I
I
I
l
I
I
I
2·00
I
2·ea
2·59
25
16"66
12·50
11 "36
10·41
9·61
8 · 92
8 · 33
7 81
7-35
6 ·94
6 ·57
6'25
5 95
5 "68
5•43
5 · 20
5
4·90
4·8o
4 71
4'6)
4 5
4 46
4 38
4·3[
4·23
4·10
4 09
4 03
3 "96
3 · 90
3 ·8t
3 ·7s
3·73
3·07
3 "62
3·57
3-52
3 -47
3. 42
3•
37
3·33
3·28
3 24
I
I
I
I
I
I
cent.
20 ,
15 , ·
00
13 ·63
12 · 50
11.53
10·71
10
9 -37
8·82
8" 33
7 89
7 50
7·14
6 · 81
6·52
6·25
6
5 "88
5·76
5·66
5·55
5·45
r, ·35
5"26
5 ·17
5 ·08
5
4 · 91
4 ·83
4"76
4·68
4 ·61
4 -51
4 ·47
4·41
4·34
4·28
4 -22
4·16
I
I
I
I
I
4.
10
4 · 05
4
3 · 94
3·89
nl ng I r!
1
I
I
3 per
2·4fi
2·43
22-40
·38
2·35
3·08
1 3·04
I
-32·97
-01
2·94
I.
3·70
3"65
61
a·57
3·52
n~ l r~ •·n~
2 . 27
2·24
2· 22
2 84
2 80
2•77
J 3. 40
3·37
s·3.1
j 3½cent.per
I
I
I
I
I
I
l
I
I
I
I
I
3;\
23·33
17"50
15 · 90
H·58
!3 46
12·50
l1 66
10-93
10 :29
9 72
9 21
8·75
8 33
7·95
7"60
7·29
7
6 ·86
6·73
6 ·60
6 ·48
6·36
6 · 23
6· 14
6·03
5·93
5 ·83
5 · 73
5 "64
5 ·55
5 46
5·s8
5·30
5·22
5·14
5-cr
5
4·92
4 ·86
4 ·79
4 · 72
4·66
4·60
4·54
4-413
4·43
4·37
4-32
4·26
1,-21
4· l6
4 · 11
4·06
4·02
3-97
3·9:J
3·88
14 per
cent.
I
I
I
I
40
26 · 66
20
18· 18
16 "66
15·33
14 28
13 ·33
12·50
11 76
11·11
10·52
10
9 52
9 09
8"69
8·33
8
7·84
7·6•J
7 · 54
7•40
7·27
7·14
7·01
16$
f
I
I
6·77
6 "66
6 "55
6·45
6"34
6·25
6·15
5 · 06
5-97
5·88
5·79
5·71
u·63
5-55
5·47
5·40
5·33
5·26
5·19
r:
II 4½cent.per II cent.per
5
45
30
22·50
20·45
18 "75
17 30
16"07
15
14 "06
13·23
12 50
11 ·84
11·25
10 71
10·22
9·78
9·37
9
8·82
8"65
8·49
8·33
8 · 19
8·03
7·89
7·75
7"62
7·50
7·37
7 · 25
7·14
7·03
6·92
6·81
6 · 71
6"61
6"52
6"42
6 3.'3
6·25
II
I
I
I
t
I
I
I
I
I
I
I
6·10
6·08
6
5-92
5-g4
50
33 33
25
22•72>
20 ·83
19·2J
17"85
16·66
15'l\2
14 ·70
1:J · t:18
I
I
I
II
I
I
I
1:3·15
12·50
11.90
11 ·36
10 86
10 ·41
10
9·8o
9 "61
9 ·43
9-25
9 ·09
8 · 92
8·77
8·62
I :½ per
cent.
I
I
I
I
I
8·41
8 · 33
8·19
8·06
7 · 93
7"81
7·69
7-57
7·46
7 · 3.3
7· 24
7· :4
7 · 04
5 -94
o · 84
6·75
6 "66
6·57
6·49
I
I
I
55
3u ·66
27 ·5J
25
2'2 91
;.! ["15
19 · 64
18·33
17· 18
16·17
15 ·27
14·47
13·75
13·09
12 · 50
11 95
11 · 45
ll
10 "78
10·57
10·37
10·18
10
9 ·82
9·64
9 48
9 · 32
9 "16
9·01
8·81
8·73
8 59
8·46
8"33
8·20
8·08
7 · 97
7 · 95
7 74
7 •6"3
7·5.3
1 · 4:3
7 · 33
1 · 23
7 · 14
per I 6½ per
II cent.
j cent.
I
I
I
I I I
17 per
6
I
I
I
I
I
I
I
60
40
30
27 ·27
25
2.3 ·07
21 · 42
20
18·75
17"61
lfi •Uu
15'78
15
1°! · 28
J:3 · 63
13 · 0l
12 · 50
12
11 "76
11 ·53
11 ·32
11·11
10·!-JO
10·70
10 · 52
10 ·34
10·16
10
9"83
9"67
9 · 52
9-37
9-23
9 · 09
8"95
8 82
8·69
8·57
8"45
8·33
8·21
8·10
8
7 · 89
7·79
I
I
I
65
43-33
32 · 50
29·54
21 ·08
25
23 ·21
21 66
20 · :11
1!)·11
1s ·os
17 · 10
16·25
15·47
14·77
14·1:3
13 · 54
13
12 · 71
12"ri0
12 ·26
12 03
11·81
11 · 60
11·40
11 · 20
11 ·01
10 ·8:3
10·65
10 ·48
10·31
10 · 15
:10
9·84
9 -70
9·55
9· 42
9·28
9-15
9 · 02
I
I
I
II
I
I
I
I
I
s·go
8 · 78
8 · 66
8 · 55
8·41
I
I
cent.
70
46"61\
35
31 ·8i
29 ·16
26· !)2
25
2 3·33
21 · 81
20 58
19 44
18 · 42
17·50
16 66
15 -90
15 · 21
14"58
14
t:3·72
13·45
13 · 20
12·96
12 ·72
12 ·50
12·27
12·06
11·86
)1 ·66
11 ·47
11 ·29
11 11
10 · 93
10 · 76
10 · 60
10·44
10·29
10·14
10
9'85
9·72
9·5s
9 •45
9·33
9·2t
9·09
IIpr cent. II cent.per
7 3-10
II
I
I
I
I
73
48·66
36 ·50
3,l·18
30·4t
28 07
26 07
':l4 33
22·81
21 47
20 27
19 ·21
18·25
17"38
16"59
15·86
15·20
l -l: 60
11·31
1-1·03
13-77
13·51
13·27
13'03
12 ·80
12·58
12·37
12·16
11 ·95
11·77
11·58
11 ·40
11 23
11 ·06
10·89
10·73
10 · 57
10·42
10·28
18 per 18¼ per 19 per 19¼ per
7¼
I
I
I
I
I
75
50
37·50
34·09
31 "2>
28·8t
26"78
25
23 43
22·05
20·8a
19-73
18 ·75
17 ·85
17'04
rn·30
15"62
15
14-70
14"42
14 15
13·88
13"63
13·39
13'15
12·93
12·7[
12·50
12 ·39
12·09
11 '90
11 ·68
11 · 53
11 ·3c
11 ·19
1l ·02
10"86
cent.
I
II
I
II
4
8(1
fB·a3
40
36'36
33 ·33
;-JO·i6
23 ·57
2fi 66
25
23·52
2i·22
21 · 05
20
19·04
18·18
17 ·39
16·66
16
15·68
15·38
15·09
14 ·81
14·54
14·28
14·03
cent.
I
I
I
85
5u·G6
42" 50
38" 63
35·41
1H 6!J
30 35
28· 33
26 · 56
2>
23 61
22·36
21 ·25
20·23
19 ·31
18 · 41
17·70
17
16·66
16·34
16·03
15·74
15·45
15 ' 17
14 ·91
14 "65
14: 40
14 · 16
13·93
B·70
1:{ ·49
13"28
13"07
12 ·87
12 · 68
12·50
12·31
12 14
11 ·97
11 ·80
.,
11 63
1t · 49
11·;-i3
11 · 18
11 ·03
I I I
I I I I
I I I I
I
I
I
I rn I rn I rn I rn I rn I rn I
10·1.'3
10
986
9·73
9·6o
9·48
I
I
I 10·'11
I
10"56
10·41
10·21
10·13
10
9.86
9·74
rn·w
I
I
13 -55
13·33
13·11
12·90
12·69
12·50
12·30
12· 12
11 ·94
11"76
ll ·59
11 ·43
11·20
11 ·11
10 95
10·80
10·66
10·02
10·38
I
I
cent.
90
60
I 45
40 ·90
37· 50
31 61
32 14
30
2s · 12
26 ·47
25
23 · 68
2·i ·50
21 ·42
20 ·45
I rn·56
t8·75
18
17"64
17 30
16 · f)8
16·66
16·36
16'01
1n·78
15· 51
15·25
15
11 ·"(5
14.51
14·28
14·06
13·84
13·63
13·43
13-23
13 · 04
12 "85
12·67
12 · 50
I
I
I
cent.
I
I
I
I
I
l
I
I
I
I
I
I
I
112 32
12·rn
12
11·84
11 ·68
I
I
I
I
n! I rn i ![: 1111 I IIH I
!)5
63· 33
47·50
4 i • 18
39· 58
36 5":l
33 · 9i
31 ·06
29 68
27 · 9-1
20 · 31:l
25
23·75
22 ·61
21 ·59
20·65
19·79
19
18 "62
18 · 26
17 "92
17· ; !)
1-; · 27
16'96
16"66
16 ·37
rn·10
15 ·8·3
15·07
15·32
15 · 07
14"84
14·61
14·39
14"17
13 · 97
13·76
13·57
13·33
13 -19
1-3' . 01
12 ·83
12·66
12·50
12·33
12· 17
12·02
11 ·87
ll ' 72
11'58
11 ·45
11·30
l1 ·17
11·04•
10·91
10·79
10·67
10·55
!i:il11I HiP~ I1!tii:~ II rnfHII rnHi II !IU& II n;IH II rnn~ Il rnHi II rnUi Il11:Hi I1m I
l ff n I
0"'
For continuation oC this table l!lee next page.
per I
per I
rer I per j
II cent.
j cent. j cent. I cent.
10
1100
66 ·66
50
15"45
41 6fi
3:::! ,j(j
: 5 71
33 ·33
31 25
29 41
~7-77
26· 31
25
23·80
22·72
21 ·73
20·83
2.)
19 ·60
19·23
18·86
1s · 51
18· 18
li "85
17·51
11·24
16·94
16 66
16 · 3G
rn · 12
15 ·87
15·62
15 ·38
15 · 15
14 -gi
14·70
14-49
14 28
14·08
13·8'.J
.
13 .69
rn·51
13·33
13 ·15
12"98
12·s2
12·65
12·50
12·34
12 ·19
12·04
11 ·go
11 ·76
11 ·02
11·49
11 "36
11 ·23
11 · 11
I
I
I
I
I
I
I
11
12
15
20 i)~r
cent.
I
I1: .
1200
133·33
I
I
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I
I
I
I
I
I
I
I
I
11!0
73"13
55
50
45"83
42 30
39 "28
36 66
3-1( 37
32·35
3J · 55
28·94
21·50
26"19
25
23·91
22·91
22
21 ·::6
21 ·15
20·75
20·37
20
19·64
rn·20
18 "96
18·6l
18 31
18 · 03
17·73
17"46
17"18
16"92
16 · 66
16·41
16·17
15·94
15·71
15·49
I 15"28
-.
I
I
I
I
1120
80
60
54 -54
50
4t;-J5
42"85
40
:-n ·5o
35-29
:n33
31 ·57
30
28 57
21·27
I 26 ' 08
25
2-i
2-3·52
23·07
22"64
22·22
21 ·81
2l ·42
21 ·05
20·68
20·33
20
19·67
19 ·35
19·04
18·75
18'46
J 18 ·18
} 17·91
17 ·64
17"39
17·14
16·90
16·66
I
I
..
'
I
75
68·18
62 ·50
5'7·69
53 ·57
50
46 ·87
44·11
41 "66
39- .17
37·rn
35·71
31:0\)
32"60
31 "25
30
29·4i,
28 ·84
28 ·30
27 · 77
27·27
26 ·78
21j·31
25 "86
25 ' 42
25
2:1·59
21·19
23"§0
23·43
2:3·07
22 · 72
22· : 8
22 · 05
21 ·73
2t ·42
21·12
20 8a
\ 100
90 00
83 33
7li"92
71 "42
66·66
62 ·50
5s:i ·82
55·55
52·63
50
47 ·61
45 ·45
43•47
41 ·66
40
39 ·21
88 ·46
37· 73
37·03
36·:IB
35 · 71
115"08
34"48
33·80
33·33
32"78
32"25
3!·74
31 ·25
80"76
30·30
29·85
29·41
28"98
28"5'1
28"16
27 ·7'1
\
I
I
TABLE FOR INVESTORS-(CONCLUDED)
1 per
cent.
. Purchase Plice.
"
········· ···· ··· ·····1
91··
. ..
92 ...................
_,!! ~!li!?~:i::::::::I
0'7 ............... .. ... ..
98 ..................... ..
99 ........... ......... ..
103 ..................... .
10-1 ............ .. ......... .
~g: ::::::::::::::::::::::: I
10'7 ••··••·•• ... . . . . ...... .
108 ·············· ....... .
1 09 .... . ................ ..
!~i ::::::::::::::::::::::: I
112 ...................... .
113 ..... . .... . .......... ..
114 ·········--············
11'7 .... . ... . .............. .
118 ....... ····· · · · ·•·· ... .
1·09
t·os
1 ·04
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1 ·0::1
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Federal Reserve Bank of St. Louis
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-
UNITED· STATES SECURITIES.
FROM 1860 TO
. PRICES
1892,
INCLUSIVE.
The debt of the United States outstanding on December 31, 1892, is given below in detail, and the table
next following shows the total public debt of the United States from 1793 to 1892, inclusive. In the year 1860,
and subsequently, the totals given are the net amount of debt, not including accrued interest, less the balance
of coin and currency in the Treasury. Bonds issued to the Pacific railroads are not included in the statement,
as these are assumed to be a conditional indebtedness for which the Government holds security in the shape of
second mortgage liens on the several roads. For the more recent years the figures given below do not agree
with those reported in the monthly debt statements issued by the Government, as a change in the form of the
statements has been made Eeveral times. We give the results entirely in the old form, so that the comparison
is on the same basis for all the years. The totals are for January 1 of each year from 1793 to 1843 inclusive,
and for July 1 (the close of the fiscal year) since 1844 inclusive.
UNITED ST.A.TES DEBT 1793 TO 1892.
Year.
Amount.
1793... $80,352,634
1794... 78,407,404
1795 ... 80,747,587
1796... 83,762,172
1797... 82,064,479
1798... 79,228,529
1799... 78,408,669
1800... 82,976,294
1801. .. 83,038,050
1802... 80,712,632
1803 ... 77,0:14,686
1804... 86,427.120
1805 ... 82,312,l:'iO
1806 ... 75,723,270
1807... 69,218,390
1808 •.. 65,196,317
1809... 57,023,192
Year.
Year.
Amount.
1810...
1811 ..•
1812 ...
1813...
1814..
1815...
1816...
1817...
1818...
1819•..
1820...
1821. ..
1822...
1823 ...
1824...
1825 ...
1826...
$53,173,217
48,005,587
45,209,737
55,962,827
81,487,846
99,803,660
127,334,933
123,491,965
103,466,633
95,529,648
91,015,566
89,987,427
93,546,676
90,875,877
90,269,777
83,788,432
81,054.059
U ITED
Amount.
Year.
- - - - - ---1844...
1827.•. $73,987,357,
1828 ... 67,475,043
1829 ... 58,421,413
1830•.. 48,56/'i,406
1831. .. 39,123,191
1832 ... 24,322,235
7,001,698
1833...
4,760,082
1834...
37,513
1835•..
336,957
1836...
3,308,124
1837•..
1838... 10,434,221
3,573,343
1839 ..
5,250,875
1840...
1841. .. 13,594,480
1842... 20,601,226
1843 ... 32,742,922
Amount.
$23,461.652
1845.•. 15,925,303
18,550,202
1846..
1847... 38.826,534
1848 ... 47,044,862
1849 ...
1850... 63,452,773
1851 .•. 68,304,796
1852... 66,199,341
1853... 59,803,117
1854... 42,242,222
1855 ... 85,586,956
1856 ... 31,972,537
1857... 28,699,831
1858 ... 44,911,881
1859 ... 58,496,837
1860 ... 59,964,402
Year.
Amount.
$87,718,680
1861. ..
505,312,752
1862 ...
1863... 1,111,350,737
1864 ... 1,7()9,452,277
1865 ... 2,674,815,856
2,636,036,16:3
1867... 2,508,151,211
1868•.. 2,480,853,413
1869 ... 2,432,771,873
1870... 2,331,169,956
1871 ... 2,246,994,068
1872... 2,149,780,580
1873 ... 2,105,462,060
1874... 2,104,149,153
1875 ... 2,090,041,170
1876 ... 2,060,925,340
1877... 2,019,275,431
63,061,858111866...
DEBT STATEMENT DECEMBER 31,
STATES
II
Year.
1878 ..
1879•..
1880...
1881. ..
1882 .. .
1883...
1884...
1885 ...
1886...
1887...
1888 ...
1889 ...
1890 ...
1891...
1892•..
Amount.
$1,999,382,280
1,996.414,905
1,919,326,747
1,819,650,154
1,675,028,474.
1,538,781,825
1,438,542,995
1,375,352,443
1,282,145,840
1, 175,16R,675
1,063,004,895
1 975.939,750
890,'i84,371
865,912,751
855,526,463
1892.
The following is the official statement of the public debt as it appears from the Treasurer's returns at the
close of business on the last day of December, 1892, according to the latest form adopted by the Treasury.
CASH IN THE TREASURY.
INTEREST-BEARING DEBT.
Title of Loan.
Int'r't
Pa11'le
Amount
Isruea.
I
Amount Outstanatng.
Total.
Reo-btered..l Ooupon.
4½18, F'n'd Loan.1891
Continued at 2 p. c. Q.-M.
is, F'ded Loan .. 1907 Q.-J.
'8, Ref'd'g Certiflc's.l Q.-J.:.
Aggregate excl'd'g
B'ds to Pac. RR. • ...
$25,864,500
1250,000,000 $25.~.500
740,858,750 485,292,200li74,300,200 559,592,400
76,180
. . .. . . . .
.. • .. .. •
40,012,750
1,030,866.500 510.658,700 74,800,200 585,083.080
Gold-Coln.......... , .... , ............................ $156,662,451 76
gg-t288,S59,801 29
BllverYJ~ftars:: '.:: '.: '. '. '. '. '.:: '. '. :;:.'.'.'.'.'.'.'.'.'.'.'.:: '. '.'. :: '. '. 8
Subsidiary coin................................. •• 10,571,480 ~s
Bars ....... ..... . ............. . ........... , . .. • • 96,743,988 1~ 462,369,518 01
15,747,475 81
Paper-Legal tender notes (old issue) .. ,. ...
Treasury notes of 1890. ... .. • . .. • , .. .. .. .. .. • 2, 705,ll66 ll6
Gold certificates............. .. .................. 24,254, ;50 00
811Ter certificates.................................. 3,74.8,4G3 00
g~:8gi:i:8
~~~:r i::.t1t1;~::::::::::::::::::::::::::::::·:::
Other-Bonds, Interest and coupons paid, awaitIng reimbursement.............................. .
Minor coin and fractional currency ......••..•••
......... $346,681,016 00 g~t:~rd~ i~~!r~~i~~~~~~~~~~~~.~~:~ .~~~:~::
Legal-tender notes .•. ~~~~-~~.~~~~~.~.?.~-~:~~~~.~
0
w:r.~~~ai~~o!~~e;~.............. ...................................
50,647 60
23,466,591 70
Redemption account................................. , ..... , . . • .
. ............... fl5,W.9,31J6 62
actlonal currency................
LeH amount estimated as lost or destroyed •• ,..... 8,875,IJS4 00
Fr
52,989,744 34
18,645 78
!l55,620 21
11,108,392 83
4,584,261 M- 16,061,919 82
Aggregate ....................................... .
$769,780.983 46
DEMAND LIABILITIES.
6,1)03,462 62
A.Jl'gregate of debt bearinK no interest .......................... $377,106,627 87
CERTIFICATES AND NOTE~ ISSUED ON DEPOSITS 01!" COIN AND
LEGAL-TENDER NOTES AND PURCHASlllS OF SILVER BULLION.
<Jltumft,cation of OerUft,cates and Notes.
I
a.~i:&&i ~-
In the
In
Treasuru. OLrculaUon
Amount
Issued.
Gold certl1lcates .............. ., ............... $24,25!,750 fl17,0ll3,189 $141,347,889
Silver certtflcates ............................. 3,748,493 322,085,011 325, 783,1504
Currency certiflcates .... , ....................
400,000
7,100,000
7,590,000
Treasury notes of 1890, ...................... 2,705,966 122,ll39,657 12!i,745,623
. Allgregate of certificates ................. l81,lll9,209 $568,267,807 $599.4,67,016
RECAPITUL A. TION.
Gold certl1lcates ... .................................. $141,!147,880 00
Silver certlflcates .................................... 325,7P3,504 00
7,500,000 00
Currency certificates............ . .. ... . .. . • . .. .. • ..
Treasury notes of 1800 .............................. 1~.745,623 OO-$!lll9,!l67,016 00
6,215,473 81l
Fund for redemp. of uncurrent nat'I bank notes
4,200,152 49
Outstandinll checks and drafts....................
Disbursing officers' balances....................... 26,862,774 31
3,938,078 67- 41,221,370 26
Agency accounts, &c... ............. .... . ... . ... ..•
Gold resene ..................... $100,000,000 00
Net cash balance.................. 29,092,588 20 ...................... 121l,092,688 20
Aggregate .................................................. ........ $760,780,983 46
Cash balance in the Treasury Nov. 30, 1892 ......................... $130,328,018 50
Cash balance in the Treasury Dec. 31, 1892 .......................... 129,0112,1588 20
Decrease durinll the month... •• • • .. .. • .. .. .. • .. .. .. • .. • • • • .. .. . .. • • • 11,236,380 30
BONDS ISSUED IN AID OF PACIFIC RAILROADS.
Dec. 31,
Olasinfl,catwn of Debt.
181l2.
•
lnterest-bearing debt•.••••••.•.•
Debt on which int. has ceased ••
Debt bearing no interest ........
585,033,080 00
2,385,045 26
377,100,627 87
so.
18~.
I
I
Increaae or
Decrease.
'
685,082,980 00
2,432,015 26
377,777,804 37
I.100 00
D. 46,970 00
D. 671,176 50
964,524,758 18
965,2!2, 799 63
D. 718,04,6 50
T,..,,,,.,..................... ....:!!,~~
598,369,656 00
1.1,097,360 00
&.ggregate of interest and noninterest bearing debt ..........
Oertlflcates and notes off'set by
an equal amount of cash in
the
Nov.
Atfgregate of debt. including
oertlflcates and note■ ••••••• ·••. 1,563,991,769 18 1,068,612,455 68
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1
I. 879,813 50
Int. repaid b11 Oompames. Balanc11
Principal Interest Interest
Nam,
accrued
B'I/ Trans- B'I/Ca&h Pav- of Inter•st
Outb11
paid
of .BaU.Wa11,
sta,n,tUna. and not the U. S. portatwn m'ts;5p.c. paid b11
11et pa-W..
Se'l'ViCe. net earnings. the U. S
$
Oen. l'aciftc. 25,885,120
Kan. Pacific, 61303,000
Unl'n Paclflc 27,286,512
Oen.Br. U.P. 1,600,000
Wel!~~Paclflo 1,970,560
SlouxC.&P. 1,628,320
Tot&IA
---
•
•
776,1554 3?,430,520
189,090 9,582,1)53
817,01)15 :39,665,567
48,000 2,!l18.808
59,117 2,732,352
48,84,9 2,34.8,590
--•.•• 64,628,512 1!988,705 94,118,790
•
•
•
658,288 30,089,320
5,432,676
488,410 25,659,515
6,927 1,868,106
2,722,984
2,145,911
6,682,917
4,100,277
18,567,643
538,775
9,367
lll7,679
.........
25,096,lj58
1,103,620 67.918,512
..........
..........
44
UNITED
PRICE8
STATES SECURITIES~
O.F UNirED
In the following tables are shown the monthly highest and
lowest prices of United States Government Securities for the
thirty-one years from 1860 to 1892, inclusive. At the beginning of this period, which was just before the War of the Rehellion, the total debt of the Government was almost nominal,
and the five per cents due in 1874 fluctuated in the year 1860
from 99¾ in January to 104½ in June (before interest payment), and to 89 in December, when the political excitement
was at fever heat. Then followed. the war peTiod till April,
1865; thence the period of speculation till Sept., 1873; th ence the
period of recuperation, till the resumption of specie payments
on January 1, 1879, and the subsequent funding of the maturing bonds into new bonds at 4½, 4, 3½, 3 per cent, anq finally
STATES
I in Sept.,
BONDS.
1891, the extension of 4½s at 2 per cent payable
at option. In 1886 the highest price of 4 per cents due in 1907
was 129% in December, and the lowest 123, in January. In
1887 the highest price was 129%, in March and May, and the
lowest was 124.½, rn September, October and Dece mber. In
1888 the highest price (under heavy purchases by the Treasury)
wa"' 130, i n September, and the lowest 123¾, in April. In 1889
the highest price was 129½, in March, and the lowest 123¼ ,
in January. "In 1890 the highest price was 126¾ , in January,
and the lowest 121½, in July. In 1891 the highest was 122,
in April, and the lowest 116, iQ. October. In 1892 the highest
was 118¼, in June, and lowest 114, in December. The 2 per
cents have ruled about 100 bid without any sales at the Board,
1§60.
.,$
J.ANU.ARY FBBR'RY.
SECURITIES.
APRIL .
MAR0H.
' M.AY.
----
J UNE.
JULY.
AUGUST. SEPT'BER. OCTOBER. N0V'BER. D E C'BER.
--- -- - - - - -108½ 107¾-107¾ .... - .... 96 - 96.
Low. High Low.High Low.High Low.High Low.High Low.High Low. High Low.High L ow.High Low.High Low.High Low.High
----
U.S. 6s of 1868, coup . .. . 106½-107 106 -107¼ 106½-107¼ 108 -108¼ 108¾-109½ 108 -108 108 -109 109 -109¼ 108
09¼-100
99¾-100½ 100½-102¼ 102 -102¾ 102%--103 100½-100¾ 101 -102 102 -102 102 -102½ 93 - 98
U.S. 5s of 1865, coup .... 98 -100
ll. S. Gs of187'4, coup .... 99)4-100½ 100¾-100¼ 100¾-101¾ 103 -103¼ 103 -103¾ 103¾-104½ 101%,-102 102 -103 102;1.{-103¼ 102½-103 95 - 103
ti
U.S.
U. S.
U.S.
U. 8.
u. s.
6sofl868, coup ... .
6s of18~1, coup . ...
5sof1865, coup .. ..
~s of187'1, coup .. . .
osof187'4, coup ... .
98 -100
....
-
. ...
90¼- 92
91 - 93
92 - 97
94 - 100
93¼- 93)4
86 - 91
87½- 91
85 - 03½
95 - 95½ l:l5 91 - 94
84½91 89 - 92
.... . ... 85 85 - 90
75 -
-
92 - 98
89 - 95
1861.
88 83 85½75¼75 -
95
86 - 95
94
84¼- 89
91¾ 85 - 86
78 - 80
85
89½ 75¼- 79
90
85
87 - 90
87½- 90
85¼- 90¾ 87¼- 89¾
85 - 87
79
77½- 80 . ... - . ...
78),( 76 - 82
78¼- 81
86¾ 86 - 89
88 89)486 71}½79¼-
90
91¾
87¾
81
81
90 91¼87)481½81¼-
90
95¾
89
85
86
£2 93½87½82½83 -
92
95¼
89
86
86
97 89 86½82¾79 -
98
93½
88½
83
83
1§62.
U. S. 6s of 1868, coup ....
U.S. 6sof1881, coup ....
U.S. 5sof1865, coup ....
U.S. :isof18 7'1, conp .. . .
U.S. 5sof1 8 7'4, coup .. ..
U, S. 6s, certificates ......
TT. S, 7' 3-10 notes ... . ....
_e
85 87½85 79½78 -
90
01¾
86½
80
80¾
97)4-102
92½- 95
94 - 97
92¾- 94¾ 92½- 98
97¾-105><2
90¼- 98
92 - 92½ 93½- 97
88
... . - ... . 93 - 96
89)4- 06
85 - 88
86¾-- 90
.
. ... 97 - 97 96¾- 99 99 -100711
98 - 90% 99¼-100
99¼-101½ 102)4-105¾
90 88½86¾79 78½-
.... - .... ... 07½- 98
92
93
90
80
85
103½-107¼
105½-107¼
93 - 99
96½- 07
05¼- 97½
100711-100)4
104½-1061,4
-
06½-100
06½-103
110 - 92
86½- 86¾
85 - 91
98 - 09
09 -105¼
06½- 09½ 06½-100
08711-101¾ 99 -102½
94 - 95
94 - 94
89 - 91
8S¾- 00
85 - 01
88 - 91¾
08)4- 09½ 98)4- 99%
102711-105½1102¾-104%.
103 -103711 101½-102 102 -102
102 -104%; 103 -104½ 102¼-104¾
00 - 97
97 - 97
05 - 95
92½- 03 . ... - . ... 91¾- 92:Ji
91 - 94
91½- 93
01½- 92Ja
98½- 99¾ 97¼- 99¾ 04¾- 97¾
103 -103 103½-105¾ 100½-104¼
1863
---=-------=,-----~-------~-~----u. ~ti!!
cu~,., .. . 1/.L;J1,;,,4-1.;;:.:,~r.lvV:)g.-.lU072 ..ll"¼:,-4-.l.Vl>½ll07¼-108¾ 107½-l.l.U
GI l ' ~i,
U.S. 5s of 1 8 65, cou1, ...
U.S. 5s of 1874 , coup ...
U.S. 6s, gold certificates
U.S. 6s, current certs . ..
U.S. 7' 3-10s, A. & 0 .. ..
U.S. 7 3u10s, F. & A . . ..
UJ
.. .. - . . . 86 - 99
86 - 90
85}1- 97½
94¾- 97¼ 93%- 99
.... - .. .. .... - . . . .
100 -103
102½-103
101¾-105),(
102½-104){
99½- 99¼
94 - 98¼
OS¼-100711
06¾-100½
10-:)i-107¼
102¾-107
... . - ... . 104 -106
95¼- 98¼ 97 - 98
99½-102 101 -102
98 - 99¼198 - 99¼
104½-106 106 -107½
104 -107 106¾-109
106 -108½
98¾-100
100¼-101)4
97 - 99¼
103½-107¼
107 -107½
'l.10-¼ -.lU i' 1.1.v4%-.l0T7~· ~vo -.l07 .l00¾-110¾ 108¾-llO¾r,Oo¼-llO
104½-105 105 -105 .. .. - ........ - .. .. 117 -125 124 -127
97 -100
96½-101
97 - 97
96)4-100¼ 100 -100
98 -100½
98½-101711100 - 101¾ 101 -101¾ 101%-102½ 98 -102)4 101!)4-102¼
97)4- 99½ 99¼- 90% 99¼- 99% 09 - 99½ 98711- 99
98 - 98½
105 -107 105;½:-107¼ 106½-107%J105½-108% 105¾-107% 106J.,.i-106%
105½-lOi½ 105½-107)4105 - 106½!106 -108 100 -107¼ 1.06½-10'7¼
1§6'1.
I
U.S. 6!l of 1881, coup .. . 104 -107 106¾-111½ 111)4-113711 113 -118
U. S , 5-20s, coupon ...... 101½-104% lOS¾-107 107 -110½ 105 -114
U. S.10-40s, coupon ... . . .... - . ...
U.S. 7' 3•10s, A . & O . . .. 106¾-107% 107¾-111 iii :
U, S. 1 yea1· ce1•tificates. 97¾- 98¼ 97¼- 09}( 99711- 99¼ 97¾- 99711
113 -115 l111 -114 102 -106¼ 104%-109¾ 106¾-109
105_½-10'71,4 101 -100¾ 101½-109 108½-113 105 -111¾
••.• •••• 1 . . . . ••.•.••• • . • . 103 -103>(
05 - 99
109½-112 1103 -110 102)4-107½ 107 -112 107 -112
98711- 98½ 02¾- 98¾ 98 - 96¼ 93¾- 05¼ 93 - 95
},;;,.:u;··
1i;·
104¼-106jjl101l½·11S 112%-118
106½-108½ 100½-107¼ 106½3-llO
92½- 96½ 94 - 90¼ 98½-102½
104 -108¾ 107 -124 116½-122\¼;
94½- 95¼1 95 - 98
96 - 97%
J
1§65.
U.S.
U.S.
U. S,
U, S.
U, S.
U.S.
6s of 1881, coup .. .
5-20s, coupon ......
5·20s, new, coup . .
10•4-0s, coupon .. .. .
7' 3-l O notes . ... . ...
1 year certificates.
109½-112¾ 109½-lll½
106%-110 108j1/.,-112
106¼-110 108 -111
100½-102¾ 100%-102%
114 -119 115 -116½
06½- 98
97Ju- 98½
1
103½-111711 105 -110% 108.½-110¾ 108¾-110½ 106½-108¾ 1013 -107)4 107)4-108)11 106¾-108¾
104%;-lll¾ 105¾-109¼ 102)4-107 102 -104¾ 103%,-106 105½-106% 105%-108)11 101¾-105¼
100¾-110¾ 105)4-109¼ 102½-lOtl 103 -104 103¾-105¾ 104 -105 105 -106¾ 101 -103
93 - 98¾ 93¼- 94½ 92½- 94¾
89)4-102¾ 91½-0'i¾ 04¼- 97% 94¾- 97¾ 96%- 98
114 -114½ .. .. - . ... 99½- 99% 99½- 99¼ 99½-100
98;i- 99% 98 - 99:X: 97 - 99¼
07¾- !:9%
96½- 98% 98¾- 99½ 09 - 09½ 99%- 90¼ 97¾- 99)4 97½- 98¾ 98½- 99
105}4-10'1% 106%-108¾
99)4-103 100 -105¾
98¼-101¼ 09 -102¼
89¾- 92)¼ 90¾- 95
95%- 09
96)4- 987Ai
96¼- 07::-f 97½-98¾
I
1866.
U.S. 6s of 1881, coup .. .
U.S. 5-20s of 1862 . . .. . ..
U.S. 5-20s of186t1 .. • · ...
U.S. 5-20s of 1 865 . .. ~ ...
U, S.10-40s ... ... ......... .
U.S. 7' 3-10 notes, 1 st ...
U. S. 7' 3-10 notes, 2<1....
U.S. 7' 3-10 notes, 3c1. ...
103¾-104%1103¾-104½[104)4-105¼1104¾-108½ 107 -109½ 109½-110¼ 106%-110 109½-113¼ 110¾-112 i.ll½-113½1112 -114¾ 100.¾-113~
102¾-105 102¾-103¾ 103 -104% 1C3¼-106% 100¾-102¼ 101½-104¾ 104¼-1087/4108¼-113¾ 1077,,f-112½ 111%-115¼ l07½-110% 105¼-108711
101½-102¼ 102 -103¾ 102¼-l04J.ti1103¾-105% 101¾-102¾ 102 -103¾ 103¾-106 105½-110 108 -109½ 100¾-lll 105¾-107¾ 104¾-107
1
101½-102½ 101'.Vs-103½ 103 -104711104 -106 101¼-102% 102¼-103½ 103½-106¼ 106 -1099.! 107¾-109% 109 -111% 105-:►.f-109¾ 104¼-107¼
92¾- 93¾ 93¼- 94% 90 - 92¾ 91½- 06½ 94 - 96½ 95¾- 97¼ 971/a- 99
99 -103¼ 97'/2-100¼ 90¼-100¼ 99½-100¾ 99 -100¾
08¼- 99¾ 99¼- 99¾ 99½-100)4100 -102 100½-102% 102 -103¼ 103 -104½ 104 -107:iij,105½-107½ 1106 -lO'i 105 -108-'/4104 -105¾
97¾- 99% 98%- 99¾ 99¼-100½ 99%-102 101 -102% 102 -103% 103 -104½ 104 -106¾!105),t-106%,105%--106¼ 104 -106¼ 1037/a-10~
97¼- !l9
99 - 99½ 09 -100¼ 99%-102 100¾-102¾ 102 -103% 103 -104½ 1104 -106% 1 105 -106J.<i'105½-106¼1104 -107¼ 104 -105¾
1
186?'.
U. S. 6s of 1881, coup ...
U, S. 5-20s of '62, coup.
U, S. 5-20s of'64, coup.
,U. S, 5-20s, '65, c.,M&N
U.S. 5-20s, '65, c., .J&.J
U.S. 5-20s of'67', coup ..
U. S.10-40s, coupon ... ..
106½-108¾ :07½-110½
106)4-108 107¾-111¾
105¼-106 105¾-108½
105 - 106¾ 105¾-109½,
103¾-104¾ 104¾--106¼
.... - ....
09¼-100
111%-113¾\oo -llO¾lllo¼-112711 110:J,4-112!,,!
109¾--110% 110..n,-112¼ ·111%-114% 110¼-115¼
105¾-107% 1 107½-109¼,100 -110~~ 108'.1/,rllO}i
106),-S-107¾ :107%-100¼ 109½-111¼ 109%-111½
108½-110½ 1,,,..1osl""·108% 107½-109
... - ··· ·1107 -10 ~ 107Y,p08J,; 107%-109
09 - 99¼ 09_½-100½ 100½-102¾ 102¼-103¼ 99½- 99¼
108¾-110711 108¾-110¾ 110½-:!.12
108¼-111 110¾-111¼ 107 -109%
107¾-108 107%-109711 105¼-106
107¼-108¾ 107½-109¾ 105%--108
106½-107¾ 107¼-lOi½ 107¼-108¾
99¾-101¾ 97½- 98)4 97¾- 09
110¼-112¾
lll½-113¼
108¼-109%
108¾-110¼'
106¾-107\)g
106.¼-108
99¾-101¾
112 -113¼ 111¾-ll~
lO'T:i-10$¾ 107 -108¾
105 -105% 104½-106
105¼-106½ 104;14-105¼
107'~108 107½-10~
107½-108 107½-109
100%-102¾ 100,)fr-104
186S.
,u. S. 6s of 1881, coup ... 108¾--112
110¾-112¾ 110¾;-111% 110%-118½ 118 -116
116½-118¼ 112¾-115%1113¼-116;-.!1113½-114½1113 -116¼ lll¾-115½ 114¾-11!5
U.S. 5-20s, 1862, coup. 107'1/a-111% 110 -111¾ 109¾-110¾ 109¼-112½ 108 -111% lll¾-113¼ 112¾-114% 1112¾-115 112½-115¼ 112¼-115 105%-113¾ 109%-111%
U.S. 5•20s, 1864, coup. 105¾-109% 107%-109½ 107¼-108¾ 107%-110¾ lOQ¾-109¾ 109%-111¼ :10 -111%ll08¾-lll!,,,i lOIJ¼-110¼ 109½-112¾ 104¾-108¾ 106%-107¾
U.S. 5-20s, 1865, M&N 106 -110¼ 108½-110¼ 107~-109 107?/4-lll¼ 106%-109¼ 110 -111¾ 110¾-112¾ 1110 -112½ 100¾-111% 109¾-112¼ 104~:f-108½ l O'i¾-108%
1
U.S. 5-20s, 1865, J&.J. 104½-108¼ 106¼-108}~ 106¼-lO~J 106¾-109 108'".:i-111% 112¾--114)4108 -109½ 107;ls-109¼ l107"';.1;.-109]4107¾-lll¼ 100¼-l.10¼ 109¾-110¼
U. ~• 5-2-0s, 1867', coup. 104¾-lO~s 106%-108¾ 100¼-107½ 10&}.!-109½ 109¼-112¼ 112%-114¾ 108¼-109%::06½-109¾]107~-100}1107%-112 107~-111:l:{ 10{)¾-111¼
U.S.5-20s,1868, coup ..... - .... . .. - . .... , ... - ..... . - . ... ... - . . 109¾-110¼108_¼-10~3107 -l09¾108y..-109½108¼:112½!107¾-lll llOr-111 ~
JI_ !o.. 10--4.0s. counon . . .. 101¾-104¼ 104¼-105¾ 100¼-lOl!!iiil00¼-108 1lCS -10!5½ 10.5¾-lv?¾ 106¾-108¾;108 -109% 104½-105¾ 104¼'.-106% 103 -106¾ 1105 - 10n1..;
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
STATE S
UNITED
6s (5-20 years) Coupon.
&of 1881.
Reg.
--
Coup.
Ope n'g
111¼
H igh't
L ow'at
Cl o:'g.
Feb.
0 pen'g
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Mar.
112%
116¾
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116¾
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115¾
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1862.
1864.
1865.
1865 n.
1867.
- -- - - - -·- - - - -- 111%
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109
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6s (5-20 years) Coupon.
6s of 1881.
5s.
10-40,
Coupon
1868.
SROURITIES.
~
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Coupon
1862.
1864.
1865.
1865 n.
1867.
1868.
--
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113
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6s (5-20 years) Coupon .
ijs, 1881
Coup.
1862.
1804.
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Coupon ren cy.
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6s, 1881
Coup.
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6s (5-20 years) Co upon.
6s, 1881
Coup.
18':lo, IOs,cu,-
-- - - - - - - - - - - - - - - __ __
1862.
1864.
1 65.
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Coupon rency.
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,
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UNITED
J:;EOURITIES.
ST.ATES
I878.
6s (5-20 yea") Coupon.
6s, 1881
Coup
Feb.
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6s, cur4s.
10-40, 5s, 188! 4t1:s, '91
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1868.
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4s,
6s, our.
Coupon Coup. Coup. Coup. rency.
1865 n.
1867.
106%
Os (5-20 years) Coupon.
6s, 1881
Coup.
1865 n.
----.Jan.
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104¾
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107¼
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Coupon Bonds.
5-20s.
6s, 1881
Dec.
120 713
10-4.0s. 5s, 1881
Os, 1881
- - - - - - - - - -- - - - - - - -
Ja D,
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106¾
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106¾
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102~
101¾
102
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106¾
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102
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106¾
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Ju ne.
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102
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1868.
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Sept,
Mar.
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--
Aug,
Fe b.
.........
109~1
108
108
Coupon Bonds.
6s, Currency,
4½s 4,; , 1907 189~,
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reg.
1868.
1807.
no
1879.
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Coupon Bonds
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Coupon Bonds.
cur-
r <~ncy ,
6s, 1881.
January,
Opening .•........ .... ..... ... . .
Highest ....... .. ........... .....
Lowest ....... ... ............ ...
Closing ............ .............
February,
:;,,
1
' 0pening ...... ........ ......... .
Highest ................ .........
Lowest ................. ..... ...
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Ma1.·ch,
Opening.........................
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Lowest ......................... .
Closin,i . ........................
April,
Opening........... ........ ......
Highest ........................
.Lowest .........................
Closing ..........................
May.
Opening .........................
llighest ..•.•..•................
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ll.1asing . ........................
5s, 1881. 4½s , 1801. 4s, 1907.
· - - - - - - - - - - - -·
104¾
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104¼
103¾
104
103¾
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103
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103
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108½
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106¾
107¾
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103
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reg.
- - - - - - - - - - - - - - --6s, 1881.
July,
X
X
5s, 1881. l4½s, 1891. 4s, 1907.
104,½i
104¼
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104¼
103%
103¾
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109¾
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109¾
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126
126
126
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126
128
128
128
September.
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105¼
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103¾
104
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109
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109
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I
110
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100
130
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118¾
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134
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ST.ATES
SECURITIJJS.
40
1881.
Coupon Bonds.
6s, 1881. 5s, 1881. ,!¼s,1801. 4s, 1007.
January.
Opening ........................ xlOl¾
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l0ll'(
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101¼
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101¾
..................
February.
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Ma1·cb.
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··· ··········
April.
Opening ............••...•••.•..
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············
··················
---
112
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101
100¾
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102
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102
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101
102
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102¾
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102
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105
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112%
112
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X
July.
138
138
l38
138
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112¾
1127/4
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August.
.......
························
···············.
104¼
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103
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102
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101
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118¾
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114¾
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131
131
131
131
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101
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138
138
138
138
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101
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114¾
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135
135
135
185
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101!1(
101¼
101¾
102
102½
101¼
102½
118¾
114¾
118¾
114~
116¼
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117¾
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Closing ....................••.. .
September.
······ ·····
···········
October.
···············
November.
xll5¾
115¾
114¼
115
118'¼
118¾
117¾
118
X
December.
134
134
134
134
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118
118
118
118
116
117¾
116
117¾
X
llt}¾
116¾
115½
116
116
117½
1882.
-
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········
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Highest ............
Lowest ...
Closing ..............
.........
Loweat ..............
Closing..............
April.
Opening ...•.••.••..
Highest •••• . ••...••.
........
......
Lowest ...
Closing.......
May.
Opening ............
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..
Cl osing ...•.•.... ...
114¾
114¼
114¾
114¼
117%
118½
117¼
118){
131
181
L31
131
101
101
100¼
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102
114¼
114¾
114%
114¾
118
118¼
117¾
118
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100¾
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102
108¾
102
108¾
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118
110¾
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121
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100
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100
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101!1,C
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114¼
114¼
120¾
120¾
120¼
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June.
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X
H ighest •.••••••••...
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Closina: ..............
.....
....
xl02¼
102¾
10~~
102¾
March.
Opening .......... .
Highest .............
---- - - -
100¼
101
100¼
101
February.
Lowest ...........
Regtster'd Bonds.
Coupon Bonds.
6s, cont'd 5s, cont'd 4½8,1891. 4s, 1007. 6s, cur'cy,
at8J,g.
1898.
at .8¼.
Coupon Bonds.
Registered Bonds.
6s, cont'd 5s, cont'd 4¼s,1891. 4s, 1907, 6s, cur'cy. 8s'-cf~&~On
at3½ .
at3¾.
1808
- - - - - - - - - - ----
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....
..
....
....
....
....
....
....
....
....
....
....
....
....
....
....
....
....
....
....
....
....
....
....
...
....
....
....
. ...
....
....
....
xlSO
180
129
129
SstJ!s:n
(
.January.
---
115¾
112¾
114
112¾
112¾
June.
Opening .• . .......•. . .••.. ,. .... • 104
Highest .• • ..•.••....••• .. ....• · J 104
Lowest .......
1027/4
Olosin&" .. .. . ... ................... 1 t03
102¼
108
10~
102¾
112¼
112¼
111¾
112¼
Moy.
Opening ...............•...... • .
Highest .•..........•...
Lowest.
Closing ............••...........
6s, currency.
It<98,rg.
6s, 1881. 5s, 1881. 4½s, 1801. 4s, 1007.
---- ----
101¼
101¼
101¾
101¾
101¾
101!':{
101¾
101¾
Coupon Bonds.
6s, currency,
1898, re11:.
- - - ---- ---
July.
Opening ............
Highest ........ • ...
Lowest ••...........
Closing .............
Auaru ■ t.
...
..
Opening .......•
Highest •.•.....•
Lowest ........• .
Closing .............
...
September.
Opening •.........•.
Highest ••........•. .
Lowest ••...•.......
Closing.••...•...•.. .
October.
Opening•.•. ....... . .
Highest ............ .
Lowest .••.......... .
Closing .•........ ...
November.
Opening....•.. .... .
Highest .............
Lowest ..............
Closing ..............
December.
Opening ............
Hi:zhest .....••.•....
Lowest •.........•••.
Closing .....•••.••••.
101
102¼
lOO~i
101¼
114
115
114
114~
xllO
120¾
118¾
120¾
114%
114¾
114¾
114¾
120¼
120¼
....
101~
101~
101¼
101¾
....
....
....
....
101
101~
100¾
100¾
118
113
112¼
112¾
119¼
120¼
110½
111!¾
xlO0¼
100!,(
1007,{
1007,{
113¼
118¼
118
113¼
x118¾
119½
118¾
110¼
101¾
101¾
101¾
101¾
118
118¼
113
118
110½
110¼
118¼
119¼
101½
108¾
101¼
108¼
x 1127A
118¼
1127A
120½
121
120
12~
102
102
101'¼
1017-{
X
....
....
..
....
....
. ...
. ...
....
....
....
. ...
....
...
....
....
I
110¾
119¼
118¼
....
....
....
....
....
....
....
....
....
....
....
....
....
....
.··•·
...
....
....
....
....
....
....
.....
....
I ....
....
....
....
....
....
....
....
....
....
....
....
10~
109~
10!}4
102~
102~
102¾
101¾
102
102¼
108
10~
103
1883.
Coupo:a Bonds.
-----------,---- - - - - - --- - - - - - - Januaryo
x102
Opening ................. •...
104
Highest ................•. . .. . . •
102
Lowest
............... ... .
104
Closing.. ................••.••...
Registered .Bor..a.,.
Coupon Bonds.
5s, cont'd 4½s,1891• 4s, 1007. Ss, option 6s,cur'O!'
:sos.
U.S.
at8½.
Registered Bonds.
- - - - - - - - - ---
July.
118¼
113%
112¾
113
xllO½
110¾
118¼
1187,i
xlOS¼
104½
l03¼
104¼
118¼
118¼
118!4
118¾
118¼
120
118¼
110¾
104¼
104¼
103j)(
104¼
Opening ............ .. ....... .
Highest . . ..................... .
Lowest .........•.. . .... . ... .. ..
Closing •.........•.. . ...... . •...
Opening .......... .
Highest ..................... .
Lowest.......... . .............. .
xll2¼
113¾
112¼
Closing...... ................... .
April.
118¾
110¾
120½
119
120½
J04
104){
103¾
108¼
Opening ...••••.................
Highest .......•....... .. ..... . . .
Lowest ............... . ... . .
Closing•.. ........ . ............ . .
Opening ............ . .. ... ... .
Highest ..............•.•.•••.. .
Lowest •........ . .......•.......
Closing ........................ .
May,
118¼
118¾
118¼
118¼
Opening ... .... . .............. .
Highest ...... ................ .
Lowest ....... . . .. . ........ .
Closing ........................ .
June.
118
113¾
113
11~
Opening •. • .......•..•..••••••..
Highest ................ . ....... .
xl12~
11S
112~
Closing ......................... .
Ma1·ch.
=.:::::::::::::::::::::::::I
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
181½
1187/4
110¼
118¼
119
103¾
103¼
108
108
118
118½
112¾
113¾
119¼
110¾
118-U
119¾
108
108¾
103
108¾
112½
114
112¼
114
110¾
121¼
119¾
121¼
108¾
108¾
101½
101¼
114¼
114¼
114;14
xl20¼
122
120
122
xlOO½
100½
100~4
xlOQ½
18W
136½
135'\'.(
lSo¾
114¾
115
114½
115
121¼
122¾
121¾
122~
100¾
100¾
100}4
100¾
l!;oni
136¼
136
114
114½
118¼
123
125¼
128
x134
1~
184
114¼
124¼
100¾
102
100¾
103
112¼
113
112¾
1:27/4
C' pening .•.....................
Highest .... ................. . .
Lowest ... . .......... .. .. . ... .
Closing•......................•
X
August.
February• .
Opening ........... . ....•.......
Highest •.. . ..................
Lowest ...................... . .
181½
131½
181½
108¾
108'¼
1087/4
103¼
September.
133
185
132¼
185
October.
xllO¾
120
110¾
110¼
x103½
103¾
103
!03
Opening .•..................... ..
Highest ................ .
Lowest ....................... . .
Closing .•....................•...
113~4
Novtimber.
119'¼
lHl'l/4
119
110¼
103¾
103¾
103¼
103¼
Opening .... ....••••........
Highest .........•.••.••...... . . .
Lowest ............•.....•...... .
Closing •..............•••••..
December.
112"
110¾
110%
103¼
104
103¼
1jO
lOSU
120
······1
Opening ........•.......
Highest ........................ .
Lowest. ...................•.....
Clos~ ••••••••••••••••..••••••.•
X
186
l~
tJNl'lElJ
Coupon Bonds.
~Q1!..d'PES :SEOURlTJRs.
Coupon Bonds.
Registered Bonds.
4¾s, 1891. 4s, 1907. 8s,-J>_p~ion 6s, ~°§~cy
1
January.
Registered Bonds.
4¾s, 1801 4s, 1001. 8s •{r.~~ 00 6
ts8~
---- ----- ---- - - - 1-----------,---- - - - ---- - - - ----
Opening .•••••.•••••.••••.•••
Highest .•••.... . ...•.•..• . ..••...•.•••.....
Lowest .................................... .
Closing ..................... ....... ...... .
February.
Opening •..•.•..•....•.•.•••••••.....•••••..
Highest ............................ ... ... .
Lowest ...................... : ........... ..
Closing ........................... ...... . .. .
114¾
114¾
11#8
114¾
x123~
124)4
123¼
123¾
100¾
100¾
tOO¾
100¾
114¾
12l»!
101
114¾
114¾
114¾
1237,i
101
128¾
123¾
101
Opening ................................ . x113¾
Highest .•••••••••••••.•.•..••.••••........
113¾
1137,(
Lowest.••••.••••••••....•••.....•... . ...•...
Closing •••••••••.......•....••••••••....••..
113'hJ
I~
124¾
123¾
101
March.
April.
Opening ............ ..... ..... . .. ..... ... .
Highest .................................. .
Lowest .................................... .
Closing .................................... .
1137/4
113¾
113
101
Opening ....••••........... .• ,. ........... .
Highest .................................. .
Lowest ..... . .•... ."..................... .
Closing .................................. .
185¼
135){
135¼
185;(
Opening ............... . ................ .
Highest ................................... .
Lowest ................................... .
Closing ........... .. ...................... .
xl23¾
124
123¾
ic:101~
112
112¾
112
1:2¾
August.
September.
Opening .................................. . xlll¾
111¾
Highest ................................... .
112¾
Lowest .................................. .
Closing . .. . . ............................. .
112¾
101
101
101
124¾
July.
134¾
134¾
134¾
134¾
October.
Opening ................................... .
Highest ........................... .
Lowest ..... . ............................. .
Closing ... ................ ......... ....... .
101¼,
100¾
100¾
101
100~.t
101
123¾
123¾
122¾
100
100¾
100
120¾
100¾
Opening ............................... . . .
Highest .................................... .
Lowest ..................................... .
Closing .................................. .
Opening ••••••••••••....•.•••••••••••.••••. xlll¾
Highest ••••....•••••.•.....••••.••••••••••.
111¾
Lowest ..•...•..•....•••••••.•.•.••......•..
110¾
Closing.......................... . . ....... .
110¾
120¾
120¾
118¼
119½
10~
100¾
100
100
Opening ............................ .. ... . xll3¾
113¼
Highest ................................ . .. .
112¾
Lowest ................... .-................ .
118¼
closing ................. .. .............. ... .
119¾
121h
December.
Registered Bonds.
120¾
121),g
120
121¼
121¾
122¾
121½
122¾
100¾
Coupon Bonds.
100),g
100!14
100¼
100~
113%
114½
1137,-s
114½
llJS¾
123¼
123¼
118½
June.
120¾
120¾
119%
120¾
xl20¼
121¾
113¾
November.
100
100¼
100
100¼
112¾
]13¾
112¾
118¾
1137-(
118¾
110
112¾
May.
Opening ................................. .
Highest ....................... . ......... ..
LoweJt ............................. .. . ..
Closing .................................... .
x118¼
120¾
118¼
120¾
'!.22%
Coupon Bonds.
101
101
100}4
100~
101¼
101½
101½
lOJ!.t?
Registered Bonds.
4¾s, 1891 4s, Hl07. 3S, {r.~~on 61~~·
--------··------- ---- ---- ---- ----111----------------1---- ---- ---- ---
January.
112¾
Opening •••••• . ••• •. . ...•...•
Ht1thest .................. ...... ........... · 112¾
112¾
Lowest .............. ....... ....... . ....... .
Oloslng ............ ..... . .............. .. .
112¾
February.
Opening ........ . . . ........ ................ .
Highest ................ .... ... .... . ....... .
1..owest ••••••.... . ,. .................. . ... .
Closing ............ .. .......... . ........ . . . .
March.
Opening......... .. ........ . ........... .
Highest ....... ........................... .
Lowest............. .. .. ..... . ....... ...... ..
tlloslng ........ . ... ........................ .
X
April.
Opening ............. .. ................ ..
Highest .................................. ..
Closlng ........... . ................ . ....... .
r~~~l~
: : : ::: : : ::· : : : : :: : : ::
May.
I
OlosiDg ................ ... . . ............ .. .
"'
June.
122¾
122¾
122¾
x108~
1087/4
103~
108¼
112¾
118¼
112¾
118¼
122¾
123),g
122¾
12.Z-½i
108
108~
102¾
108¼
Opening ................... , ............... . x:112¼
Highest ... ... . .. .......................... .
112½
Lowest .... . . . .................. ........ . ... .
112¼
Closing ........... ........................ ..
112½
122i1;
123¼
122%
184
134
184
184
184
184
101¼
121¾
122¾
121¾
122¾
102
102
101!,ii
101¼
Opening .•.•..•.. ...........•.•... ...... •...
H!ghest ................... .. ...... ........ .
Lowest ....... ............................ ..
Closing ....... . ....... . ......... ... . ...... .
112
112¼
112
112
1~¼
122¾
122¼
JOI½
112¾
112¾
112¾
112¾
113¼
112¾
118¼
121¾
122¾
121¾
122¼
OIOBing......•.•.••...•.••••••... . . . . ......
112%
X
I
1·
12.2¼
123½
122¼
1~¼
August.
Reptember.
101¼
101
101½
!22¾
121¼
122¼
121~a
122
Lowest ......................... . . .
X
xl.22¾
112¼
112¾
112½
112¾
112¼;
112¾
11~
Opening ........................... ...... .
Highest ............... ... ................. .
112¾
112¾
112½
112¼
Opening ................................... .
Highest ..•••••.•••••.••....•.•..•• ••.. . •• . .
Lowest ...••••....•••••....•••.•...•...•..
Closing ................................... ..
112¾
Lowest ......... .. . ,. ...................... .
.July.
101½
101¼
t01
121~~
122¼
121¼
121¾
X
X
102),g
101
102¼
102%
103¼
102%
103¼
104.¼
112½
113½
112½
118½
x122¾
124
122¾
124
x108¼
104
108½
108¼;
118½
118½
113½
113½
123%
123%
123¾
123¾
104
104
102¼
102'7/4
xll2¾
123¾
124¾
123¾
124~
108),g
October.
Opeulng .. ... .. . ........................... .
Highest ........ ........ .. . .. .............. .
Lowest ... . . ..... . .............. .... . . .. .
Closing ... . .......... ..... . .. .. ... . ...... .
101
103¼
104½
103¼
123¾
108¼
104
103¾
1087/8
X
November.
186¼
137,g
1361,,(
187½
Opening ........... .. . . ..... ....... ....... .
Highest .. . ... ... .. ... .... ... . ..... ..... .... .
Lowest ............ .... .. .......... . .
Closing ...... .. ....................... . ..
135
185
184¼
184¼
Opening . . .. . ... . ..... . ................. .. .
December.
I;=':: ·::i:_:: ::: ..:::::: :::::: :: •• •:: •
ll27Ai
112¾
112'7,1i
104¾
108¼
l~
188~
I~
1~
1~
13'
18'
xl88
188
188
, 1.SS
ll!i86.
Coupon Bonds.
Registered Bonds.
Coupon Bonds.
tRegistered Bonds.
4¼s, 1891. 4s, 1907. 3s,{r.:~on 6s, ~'.cy
1
January.
---- ----- - - - ----11--------------·-- ---- ---- ---- ----
Opening ...•.. . ..•.•......•.•
Highest .................................. .
Lowest .................................... .
<losing ........................... . ...... .
112¾
112¾
112¼
112¾
February.
Opening ................................... .
Highest ............................. .. . ... .
Lowest ......................... . ......... .
Closing ......................... ~···· ··· .. .
March.
Opening .................... . ........... .
Highest ................. . ............... ..
Lowest..................................... .
Closing .......................•.•••••••••...
,
X
April.
Jane.
Opening ............. .. .................. .
Highest ............. . ..................... .
Lowest ...................... ... ... .... .... .
flloain&. ...................... .
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
X
LOO¾
100~,i
135¼'
135¼
185¼
Opening ........ ~~...~~ .. .... : ........... .
Highest ................................. .
Lowest . ............................... .
Closing ........... . ...................... .
136¼
136¼
136¼
136¼
Opening ..... .......... . ............... .. .
H!ghest ................................. .
Lowest .................................. .
Closing ...... ............. ........... .. . . .
135¾
127¾
112¾
112¾
N7¼
127½
125¾
126¾
JOO%
101½
100¾
101½
Opening .................................. .
Highest .. ... ........ ............ .. ....... .
Lowest ................................... .
Closing ................................ ..
112½
112½
xl2tl¼
126¼
125¾
126¾
xlOO¾
101¾
100¾
101¾
Opelling .. . .............. ............ . .. .
Highest .... . . ... ........................ .
Lowest ...................... . ........ .
Closing ........ ..... ... . ............... ..
112¾
112¾
112¾
112¾
126¼
126¾
1~
126
101½
101½
100¾
101½
Opening ................................. .
Highest .................................. .
Lowest.......... . .....
.. ... ..... . ... .
Closing... ...... .. . ....... ........ .. . .
124¼
111¾
126¼
112¼
111¾
112
127¾
126
127¼
100¾
101
101¾
102½
101¾
101½
Ill¾
112¼
111¾
112¼
August.
100¾
101
112~
May.
x102
102½
124¼
127¾
112½
Opening .••.•.•••....••••••.••......••.•..
Highest., ................................ .
Lowest ..... .. ........................... .
Closing ..... . .............................. .
128
124.
123
124
112'7,-s
114
112¾
114
111¾
112½
0pening .......... ... .................. .
Highest .... •......•.......•.•.•.••••.. . •• .
Lowest •.•• •••. ••..••..••..•..•....••.• . ..
Closing ................................ . . .
X
~eptember.
October.
November.
X
X
126
127
125¾
127
xlOOl}.{
100¾
100¾
100¾
185
185
185
185
100¾
111¾
111¾
111¼
lll¼
126¾
127
125½
126;(
110
112½
109%
112½
126¼
128¾
126¼
128¾
100¼
188),(
100½
100¼
100½
134
J88
112¾
112½
111¾
111¾
xl29
129
127¾
128¾
xlOQ¼
111¾
128¼
120;(
lll¼
110¾
111½
100¾
100¾
100¼
138~
100),g
100
100
127
129
December.
O pening........
. .................... . xllO¾
Highest ............... ................... .
110¾
Lowest ............ . ........ ............. .
1107-(
Closing... ...
. ................... ..
110¾
129
120¾
100¾
101
100¾
182~
128,:(
128¼
101
182
132¼
182
UNITED
ST..dTES
SEGUR/TIES.
51
===..:::---_ ============================================================================
Coupon Bonds.
---- ---- ---- - - - 1----------------1----- ---- ---- - - -
.January.
Opening ....................• .
IDghest ••••.••• . ••••••.••.•••••••••••••••. .
Lowest •••..•....•..••.•••..••••..•.••••....
Closing ••••.•...........•...•••••. . .•.•...
February.
Opening •.............•.•...••••........ •. ..
Highest ................................. ..
Lowest •••. . ..••••••.••..•.••••.••••••..•...
Closing ................................... .
March.
Opening ................................ .
Highest ......•..••.••••..•..•.•••... . ... . .
Lowest•••.•••... ••.........•....•.•... . ....
Closing ••••.••............•.•••.••••.....•..
X
April.
Opening .......... ... ... . .. .. ...... . .
Highest ........... . ... .. ........ .. .... .
Lowest .•..•...•...•...••.....•....•• . .
Closing •.•.•..••...........•...•.••••..... .
11~
xl.2'7½
110¼
109¾
110¾
128½
126¾
128¼
110¼
110¼
110
110
128¼
126¾
109
109¼
108¾
109¼
110
Opening .••••........••••••.........•.... .
Highest •••• •. .................... A •••••..
Lowest •.••••......•.... ... .••..••........
Closing ....•.........•.....•......•.........
June.
X
134¼
l::14¼
134¼
134¼
137¼
137¼
137~
137½
Openin~ .. -..............••.••••••.•.....
Highest ................................. .
Lowest ...........•. ..••.•... . .........
Closing ........•..•... . .. . ••...••..••....
137¼
137¼
137¼
137¼
129¾
129¾
129¼
129
129¾
10~
109¼
109¼
127,(
]28~
129¾
128➔.(
Opening ....••.... : .............•.•.•.....
Highest ..........•.•...•••••••••••••••..••
Lowest ........•...•... . ..•... . •••.•.....
Closing ..............•...••••.•••.••....
December.
Opening........ .. . .......••••• . •.••..•.
Highest .................................. .
Lowest ................••..•..............
Closing ................................ .
x182~
132¼
13~~
132;,(
132
131
131
127
128¼
125¾
125¾
Opening........ . . . . . . . . • • • • • . . . • • . . • • • . . . x 108¾
Highest...................................
108¾
Lowest....................................
108
Closing.................. . .. •••• . ... •••...
108¾
November.
191
128¼
127)4
IO~
110¾
108
108
~eptember.
October.
xl28¼
109
135
135
135
135
129
129¾
109¾
108¼
136--'.)!
136¼
136½
136¼
1211¼
110¼
110¼
110¼
110¾
August.
Opening ................................. .
Highest ........................ . ........ .
Lowest ...............•........••••••••••.
Closing ................. . . . •....•••.....••
1093,4'.
109¾
l'l8
129¾
128
129½
128¾
110
110¼
Opening •••••••••••••••••••• •· ••·•········
Highest •.•••••.••••••••.... ••··• ••••••·••
Lowest ..............•..•..•••••• .••••••.
Closing ••......... . •...••••••••••••••••.••
137¼
137¾
187¼
137¼
128½
110¾
.July.
182%
182¾
132¼
132¾
134%
lri41jj\
134%
1349!j
128¾
May.
Opening ••.•.•.................•......•....
Highest ......•.••........•.................
Lowest ....••..•.•. •...•................•••.
Closing•.........••...•...•....••.• ... .......
Coupon Bonds . Begtstered Bonda.
Registered Bonds.
108¼
108¾
108¼
108¾
128
129
129
129
129
128
128
128
125%
125%
124½
124½
127
127
127
xl24¼
126¼
124¼
126½
109
109
126¾
126¾
108¾
108¾
126¾
127
126¾
107
108%
107
125¼
126¾
124½
126¾
1~
1888.
Coupon Bonds.
Coupon Bond s .
Registered Bonds.
Registered Bonds.
6
6
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 4_½_s_,_189
_ _:_4s_,_1_907_~6-s_
1~_;.::~_I_~_:_cy~ll----------------ll4¼·--s_,1_89_1. j_4_s,_1_9_01_. s,1~_-~_§_:c_Y _s_1 9'._
cy
.Ja nuary.
Opening .................... .
Highest ••••.••• . ••.•••....••••••••••••••••.
Lowest •• . .•....•...•...•••.•••••••••••••••.
Olosing ............ . .............. . ...... .
February.
Opening ................................... .
Highest .....................•••••••.. . .....
Lowest ................•.......•••..••.••••
Closing ..... . ........................... . .. .
March.
Opening ................................ .
Highest ..•••••......•......••.•••.........
Lowest..•..••...............•...•..• ...••...
Closing .•..••...............•...••••....•...
X
126
~
107½
125¼
108¼
125¾
108
108
107½
107½
126%
126%
125¾
125¾
106¾
106¾
10~
106%
April.
106½
Opening.......... . .. . .. . ..... . ...... .. .
Highest . ................................ .
Lowest ................................ ..
Closing •................•..•...•••••••.••..
X
107'¼
May.
Opening .•..•........•.•••...•............
Highest ....•............••..•...•.••..•...
Lowest ............................. . .... .
Closing .............••.........•............
127
127
125¾
125%
127
127
12Sll:(
127'7/fi
1277Ai
106½
123!J:{
lOi'-(
126¼
107¾
126½
127¼
126½
127¼
108¼
108¼
X
1~
190¼
126¾
107¾
June.
Opening .................................. .
Highe1t ..................•...••....•••.••••
Lowest ••.••...........••.•....•.••••...••••
ffioslng •........................... . .........
107½
108½
July•
107¾
Opening .•......•...••..•.......•...... . ..
lO'n,(
Highest •.•..•......••••... .• •.•••.•• •.. ..
107¾
Lowest . ......................... •······
107¾
Closing ........ . . ....................... .
Auirust.
107%
Opening ....................•....•.... . ...
107¾
Highest ....•...................•.........
107½
Lowest •...........•...........•.•..•.....
107¾
Closing ................ .. ................ .
tiieptember.
Opening ................................. . x1()6¾
106¼
Highest . ...... .....•.......•.........••...
l:>6¼
Lowest ... . ..........................•••.•.
106¼
Closing ........................... . ..... .
October.
108%
Opening .. . ............................ .
108¾
Highest ....... . .................... . .... .
108¾
Lowest ...•...... . •....••..............
108¾
Closing ......... .. ..... . •. .......•.••....
November.
Opening ......................... ; ....... .
108¼
Highest ..................................•
109¾
Lowest ......... . ........ .. ... .. ......... .
108½
Closing ....... ... ..................... ..
109¾
December.
Opening........
. ........... -•......... x108¼
Highest .................................. .
108¾
Lowest ............................. . .... .
I.OS½
Closing ... . ... .. .•..•.................•
108¼
107
127~
128¼
127¾
128¼
107¼
-107
107¼
127¼
127¼
' ..J ••••
_~f_
xl27!,4
127¾
127¾
1~
127
127
127
127
127¾
1~
12?¾
128½
128¼
180
128¼
180
126%
127½
129¼
129¼
129¼
129½
127¾
128½
127!,4
128¼
130!,4
130¼
130¾
190!,4
xl29
129
128¼
128¼
128¼
128;4
1§89.
Coupon Bonds.
----- ----January.
Opening ............ . ....... .
Highest •....... . ...•..... . .........•......
Lowest •.•..................................
Closing ........................... ....... .
February.
Opening ................................... .
Highest ............................ . . . ... .
Lowest ....... ...... ...................... .
Closing .................................. . .
108¼
109
108½
109
109
109
109
109-
March.
Opening ..... . ... . .................... . . .
Highest ........... .. ................ .. .. .
Lowest.................... . .......... . .... .
Closing .................... . ............... .
April.
lO~a
107¾
108¾
X
126¾
128}4
126¾
128¾
128¼
128¾
128¼
128¼
129%
12?"'U:
12'~
129¼
Registered Bonds.
---127½
127½
127¼
127½
Coupon Bonds .
---- ,---------------·-.July.
Opening ................................. .
Highest .... .. .... . ..... .... ............ .
Lowest .................... . ............ .
Closing ........ . .. .. .. .................. .
August.
Opening ....... ... .... ....... .......... . . .
Highest .. .. ... . ...... ... ............. . .. .
Lowest ...... ...... .. .. ............... . .. .
Closing .................................. .
106¾
106¾
106¾
106lJ.C
106¼
106%
106¼
106¼
!iieptember.
Opening .............. . ............ ... ... .
Highest .................................. .
Lowest ... . .... ...... .. ............. . ... . . .
Closing ..... ... ... ... . . . .. .. . ... ..... .. .
Octobe1·.
105¾
105¾
105¾
10~¾
129¾
129½
129¼
129¾
Opening ............... .. ................ .
105¼
Highest ....... . .......................... .
105½
Lowest .................. . . ... : •...... ...
105½
Closing ............................... .. .. 105½
Opening ............. ................. .. . .
x106¼
Highest .................................. ..
106¼
129¼
129%
Lowest ................................... .
Closing.................................... . .
106~
~
106¼
1.29%
Opening .......... . .............. ....... . xl04¾
Highest ................. . ............. .. . .
105
Lowest ........................ .......... .
104¾
Closing ... . ...... ............. .. ....... .
105
May.
Opening ••...........•..•...........•.....
Highest .................................. .
Lowest ................. . ................ .
Closing ..............•............••... . ....
June.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
xl28¾
129
128¾
November.
Decembe1·.
128¼
128½
128¼
128¼
128¼
128¼
128
128
128¼
128¾
127¼
127¼
129
108¼
108¼
108¼
108¼
X
Xl27¾
127!,4
127
127
127
127
127
127
127¾
127¾
127¼
127½
~'.cy
~~:cy 6s 1
1
Opening ............ . ........... ...... . .
Highest . . .... .... ....... .. .............. .
Lowest . ... .. .. . .... ... . ..... .. ...... . .
Closing ... . ...... . ..... . . . .............. .
~pening .......... . ........... . ...... .. .
Highest . ................................ .
Lowest ..•............................. . .
Closing ................................... .
Registered Bonda.
4:Jis,1891. 4s, 1907. 6s,
12~
125%
125~
12ii¾
UNITED
ST.AT.ES SEOUBITIES.
1890.
Coupon Bonds.
1. 48, 1907.
__
___._189
- - - - __________ ,4¾8
January.
Opening...... . ..............
Highest.... . • • • . • • •• • .. • • .. • •• • • • • •• • • • • .. .
Lowest..... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ..
Closing .. . . • .. .. .. . .. . . .. . .. . • • • • • . • • • • • • .
February.
Opening • • • .. . .. . . .. • . . .. .. .. • • .. .. .. • . .. • • .
Highest .............................. . ,. .. .
Lowest .. . .. .. . .. . .. .. • • • .. • .. • • . . .. . .... ..
Closing.....................................
March.
Opening.......... ........ . ...............
Highe!!t .. . . . . . .. .. . • • . .. . . .. . . • • .. . . . .. . . .
Lowest............. .......... ....... . .......
Closing ........... •.........................
April.
Opening .. • . • • . . . . . .. • . . . .. . • .. . . .. . . . • . .
Highest . ............................... ••
Lowest • .. • • .. ......................... .., .
Closing.................... .... • .... .. •.••.
July.
12~
125
Opening...... .. ............ ..............
Highest.................... .. .. • .. • .. .. ..
Lowest . . . . . . . • • .. .. • • .. • . . • • . • • • . . • . • . . .
Closing.................... . .. .. .. .. .. • .. .
104¾
104114
104½
104114
123¾
123¾
128¾
123¾
Opening ............................... , ..
Highest ................................. .
Lowest .................................. .
Closing .......... ·........................ .
103¾
103¾
103½
103¾
123
122
122¾
Opening ................................. .
Highest .................................. .
Lowest ................................... .
Closing .................................. .
103½
108½
108½
103½
122¼
122¼
122
122
Opening .. ............................... .
Highest ................................. .
Lowest.... .. . .. . . . • .. .. . .. . . . . .. .. . . . .
Closing ................................. .
May.
Opening • .. ... .. .. .. . . .. .. .. . .. .. .. .• .. .. • •
Highest .. .. • .. .. .. .. .. • .. • .. .. . .. .. .. .. .. ..
Lowest.................. . .... . .. .. . .. . .. • • •
Closing............................ . . . . . . .. . .
Coupon Bonds.
Ill~
l2l5
102114
108~
102¾
103¾
108
108
103
103
121¾
124
121½
124
August.
!iieptember.
]~
122
122~
122
122
Registered Bonds.
68
___s._1_89_1_. _41_,_1_907_. _6s_._1~_ur_8_:c_y 6_1_,1_~_:c_,
:c_y,11----------------l'¾
__
•1~&rcyl-_•1_~
105
105
1049'{
1~
Opening . • • . • • • • .. .. . • . • • .. • .. .. . . . .. .. . ..
Highest...... .............................
Lowest . . . . • . • .. . .. . .. . .. . . .. .. . .. . .. . • .. .
Closing ............... - .. .. .. .. • .. .. .. .. • .. .
June.
Registered Bonds.
68
123¾
12S'U
12SU
128U
103¾
108¾
103¾
103¾
October.
122%
124¼
122¾
124
November.
Opening ................................. .
Highest .................................. .
Lowest ................ .. . ... ......... .
Closing... . . .. . . . .. . . ............ ...... .
124!l(
124¾
124114
124¾
124
124
123
128
104
104
104
104
December.
Opening. ...... .. . . .. ................... .
Highest .................................. .
Lowest .................................. .
Closing .. . . • . . .. . .. . • . .. . . . . . . . . ...... .
122
122:14
122
122¾
125½
126¾
124
124
1221}!
1118¾
122
12~¼
115
115
115
115
:=soi.
Coupon Bonds.
Registered Bonds.
Coupon Bonds. r Registered Bond_~·
6s, cur 1cy 6s, our'cy
6s, cur'cy 6s, cur'cy
1899.
1898.
1899.
1898.
4½s,1891. 4s, 1907.
4¼8, 1891. 4s, 1907.
----------------·1-----------------1·-·--------------
January.
Opening ...... .. ........... ..
Highest ........ . .......................... .
Lowest .................................... .
Closing .................................. .
July.
121
121¾
120~
120¾
Opening ................................. .
Highest ................................. .
Lowest. .......................... ....... .
Closing .................................. .
121
121
121
121
Opening ........ ..... .............. .... .. .
Highest ............... , ................. .
Lowest .................................. .
Closing ................ .. .......... . .... .
121¾
]21¾
121½
121¾
Opening ................................. .
Highest ...............................•...
Lowest ................................... .
Closing .............. ...... ..... . ...... .
122
122
Opening ............................... .
Highest .... ... ......................... . .
Lowest .......... , .......... . ...... .. .
Closing............ .. .. . .............. .
February.
Opening ................................... .
Highest ............................ ... , .. ..
Lowest ................................... .
OJosing ................................. . . . .
March.
Opening ......... . ...... ................ .
Htghe!!t ................................. ..
Lowest........... .......... ......... ... .... .
Closing .................................... .
April.
Opening ......... .. .. . ...... .......... ... .
Highest . ................................ ..
Lowest .................................. .
Closing ................................... .
102
102
102
102
August.
117
100¾
100¾
100¾
100%
117¾
117
117¼
116¾
100¾
100¾
100¾
100¾
116¾
116¾
116!1:(
~eptembe1·.
118
118¾
117
117¾
Octobe1·.
122
122
May.
116¼
ll7
116
117
Novembe1·.
Opening ..... ........................... ..
Highest .................................. .
Lowest ............ ..... . ................ .
Closing ................................... .
117
117
llfl¼
116¾
Opening ........ .. .... .. . . ............... .
Highest ..................... . ............ .
Lowest ................... . . . ..... . ... .
Closing ........... .. . ................... .
June.
December.
Opening ................................. .
Highest ................................... .
117¾
Opening ................................. .
Highest ............ : .... . ................ .
Lowest . ...... ..... ... ........ ...... ..... .
Closing ... . ........................... .
Lowest ........................ . ... ... .... ..
mosing............ ........ ........ . ........ .
118
118
118
118
118),:!
116¾
119¼
1892.
<it:f:1~~
Coupon
Bonds.
Registered Bonds .
Regtstered Bonds.
6s, cur'cy ·6s, cur'cy
4s, 1907. 4s, 1907.
4s, 190~ -~ 1907, ~ ~ . _ ,_ 1 _ 8 9 9 _ . _ 1 - - - - - - - · - - - - - - - - 1 - · - -
January.
Opening ...... . ............. .
Highest .... ... . . ......... . ................ .
Lowest .................................... .
Closing ........................... . ..... ..
February.
Opening .................. .. ............... .
Highest ............................ . . . .... .
Lowest ................................... ..
Closing ................................ .... .
March.
Opening ................................ ..
Highest ................................. ..
Lowest.............................. . ...... .
Closing .................................... .
April.
Opening .......... . ...................... .
8.ighest . ................................. .
Lowest ................................ ... .
Closing ................................... .
May.
Opening ................................. .
Highest .. . .. . .. ......................... ..
Lowest ............................ ... ... .
Closing ................................... .
June.
Opening .................................. .
Highest ................................... .
Lowest ..... ............................. . ..
Olosing............................ .... . ... ..
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
117¾
117¾
116½
116½
117
117¼
116
116
116¾
117
116¾
116¾
116¾
116¾
116½
116711
116
116
116
116
l.18½
118½
118½
118½
July.
Opening ................................. .
Highest . .......... . ..................... .
.Low est ................... ............ ..
Closing .................................. .
Ana-ust.
Opening ................................. .
~~~!~~~::::: :: ::::: :: :: :::'.::: :: :::: :::: :!
Closing ...................... . ..... ..... .
!iieptember.
117¾
117½
117¼
117¼
116¼
116¾
116
116¼
Openiog ................................. .
Highest .................................. .
Lowest ................................... .
Closing ................................ .
116¼
116¾
115¾
116¼
116
116¼
115¾
116
Opening .. ..... ... .............. . ..... . . .
Highest ................................. .
Lowest .............................. ..
Closing... . ........ ... . .. .............. .
116¼
117½
117¾
115¾
117½
115¾
117½
Opening ... . ............................. .
Highest ...... . .................... ....... .
Lowest ................... . .............. .
Closing ......................... ...... .
117¾
118¼
117¾
117%
116¾
110¾
116¼
116¾
Opening ........... . ..................... .
Highest ................. . ............ ... ..
Lowest ................................. ..
• ..................... .
Closing...
116½
October.
No-Yember.
Decembe1·.
·-.
-
---
- -- - - - -- -
6s, cur 1cy 6s, cur't:)
1899.
1898.
---- - - - --·-
xll6¼
116¼
116¼
116¼
116
116¼
116
116¼
116~
116¾
116
116
116
116
116
lltl
115¾
115
114¼
115
114¼
115
114½
114½
114¾
115¾
114¾
114½
115
115
114%
114¾
114¼
115
114¼
114¾
114½
114¾
114
114
113½
113½
113
113
---- - -
STATE
SECURITJE8.
PRICES FROM
•
1860
TO
1892 INCLUSIVE .
There were no events of remarkable interest touching State bonds in the year 1892. In the Fall months
there was quite an active movement at the Stock Exchange in the l0w-priced bonds of some of the Southern
States, particularly in the A1,kansas railroad bonds, but this appeared to be rather speculative than otherwise
and based on the hope that something might ba done in getting the new legislatures in those States to take
some action looking to a recognition of these bonds. Transactions at the Stock Board are limited almost
entirely to dealings in the Southern list and a sale of any other State bonds rarely takes place.
The settlement of the Virginia debt in 1892 removed from the Courts the long-continued litigation over
the debt of that State, and there is now pending no important suit under the Eleventh Amendment to the
Constitution of the United States, which 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 has been under the protection of this provision
that States remained free from prosecution on their debts, and that State bonds have become virtually obligations of honor only. In various ways the creditors of States endeavored to bring suits for the collection of their
debts, but the United States Supreme Court has looked with disfavor upon such suits, and has been disposed to
uphold the EleTenth Amendment in its full scope.
1860 to 1871 inclusive.
[Prices from 1860 to 1871 a.re compiled from sales, and 1871 to 1890 from prioel! bid on Friday of each week; in 1891 and 1892 from sales.]
1860,
DESCRIPTION.
Ohio 6si/886 ..... . ...
Kentuc y6s ... . ..... .
111., Int. Imp. Stck. '47
"
"
" lPterest .
Ill. 6s, '79, cou ........
Ill. War Loan.........
Indiana 5 per cent . . .
Michigan 6 per cent...
Tenneesee6percent.
Ten. 6 p. c. new bds...
Virgima6percent... .
1861.
Lowest.
Highest.
Lowest.
!OG¾ Jan.
99 D ec.
100 Feb.
100 Mch .
104¾ May .
. . .. .. .. . ..
86 Jan.
98 Mch .
64 D ec.
•. . . . . .
73 D ec.
113¾ Aag.
106J i JunP,
106¾ Oct.
100¾ July.
106¾ Sept.
. . . . .. . . . . .
93 Aug.
106 June
93 June
.. . . . . . . .
95 Mch.
87 Dec .
65 April
... . . .
. . . . .. . . . ..
75 June
.. . ......
75 July.
77 D ec .
34¼' June
. . . . . . . . . ..
36 April
1862.
Highest.
Lowest.
109 Feb. 93 Jan.
97 Jan. 70¾ Jim.
... . •. . . . . . . . . . . . . . .
. . . . . . . . . . . . . .. .. . . . ..
85¼' Sept. 80J,.( Jan .
. . . . . . . . . ';7 Jan.
93 April 75 Feb.
83¾ Oct. 'i~ J an .
77 Mar. 4~ Jan.
. . . . . . . . , . . . .. .
81 Mar. '4S Jan.
1863.
Higtest.
115 Nov.
100,•.:nec .
.... . . . . . .
...
.....
110 D ec.
105¾ Dec.
84 May
105 Dec.
65 Feb.
1864.
Highest.
Low est.
18h5,
Highest.
Lowest.
Highest.
. .............................................................. .
.. ...... . ...... .. ....... . . . .. . . . .... ,. ........ . ................ .
. . . . ....... .... •. . .. . . •.. . •• •. . . . .••. •. .... .
. ................ ..
... . .. . .... . .. . .. . . . •. ..... .. •. . . .. ..... . ... ... . .. . . . . • ...... . .. .
....... .. . .... •.. . . ..... . .... . . . . ................. .
. . . . . . . . .. . . . . . . . . ... . . . . . . . . . . . . . . • •. ••• . . . . •. . .. . . ......... .
............. ..... ..... . ...... ..... .............................. .
"57"""jiii.'." 67,¾.May: ·52" j\ii:r'. ·64-..F~b· '50 ··i.:ta~: 92 ...i:i~.'
65_½ .0ci-:· ·4g···n·ec. 75 ...Feb." "47 ...jiiii.· 64 '"sept: •w·• ·jaii·.· "ia"'·Nov.'
"77ji/:oec·: ioo'· Sept: ·44""j~ii'e 82½°Feb: 60· · jii.ii"." ·14···Juii~ '53•··n·e·;: ·so""iiar.' "49."j~;;.- 63° Aug: '5s· ··jaii': 'sii"'"n~~.0
~is~~i~J~:;i~~Jt~~: ·tii
Louisiana 6 per cent.. 94
Califoroia7percent •. 82
.:., DESCRIPTION.
···nee:". ·s4rs ·Jiiiie ·as·· ·J\1ay:
Jan.
Jan.
99¾ Oct.
95 Sept.
1866.
Lowest.
Highest.
84 Mar.
. . . . .. . . . . .
60 Nov.
. .. ... . .. .
73 Nov.
. . . . •. . • . .
. . . . . .. . .
71 Mar.
so..- Jan:
106 April
100 June
•
. .. .. .
72 J a.11.
.. . . . . . . . .
88 Jan.
• .• . . . .
...... ....
93¼ Dec.
100 Sept.
12() Oct.
0
0
0
0
0
~~·c6lo1f~~r;~i.s.- ...
N . C. 6 p. c., newbds. . .. . .. .. . . . .. .. . •. . . . . .. . ...... . . .. . ... . .. .... .. . .... . . . . . . . . ..
Tenn. 6 per cent
•.
Tenn. do. new bds. ...
Virginia6percent.•..
Va. do. n ew bds. .. . ..
N.Carolina6percent.
N. C. do. new bds...
N. C. do. Special Tax.
Mis~o.uri 6 per cent...
Lo~1s1an.a 6 per cent..
Cahforn~a 7 per cent..
Lowest.
00
•• . ..
.. .... . ....
0
. ......• . ••..............•....••
12.. "ja~: ·40· ··jaii·: ·5tij,t:Feb'.' ·s9,¾ ·:oe"c." ·15· ..May: ·tio· · ·oci: · ·1s;;iAii~11
45 May. 77½' Mar.
71.¼May 88 Jun.
18ti7.
Lowest.
Highest.
59 Jan. 70 Mar. 55
76,¾,Tan. 116,½'Dec. 114
1868.
Lowest.
Iligbest.
Nov. 80 Mar. 52
Aug. 139¼'M11r. 123
1869.
Lowest.
x61 Jan. 70,¾" July. x5!l½ J11n. 7 ½' June x49J,.( D ec.
. • . . .. . . .
.
. .. 40¾ D ec.
41 Mar. ·6o· ··jau·. · i43¾.jiii:;.· 60 May.x47 Dec.
....... .•..
. . ......... 49 Sept.
45 Mar. 60,¾ juiy>~sii"jii,i:i_' 79 June:x:40¾Dec.
. ............................ ..... .. . ...... . 27 Nov.
. . . . . . . . .. . . . . .. . . .. . . . . . . • . . . . . . . . .. . . • . • . . .. \ .......
86¾ Mar. 106 July. 84 Nov. 108 Feb. 85,.... Sept.
80 Feb. 90 Jan. . . . . . . . . . •. • . . . . . . • . . • . . . • • . .
115 Jan. 128 ., Dec. 11!8 Dec. 184 Mar. .. .. •• .. • • •
0
0
Highest.
Feb. 75
Jan. 167
1S70.
Lowest.
51
April 60
Aug.112
Jan. x52¾ Jan. 70 July.
69½ Jan. 45¼ Mar. 68¼' July.
59¾Jan. x4¾Jan. 76 J\far.
63Ja Jan. 57 Jan. 73 Mar.
66¾ J an. x40 Jan. 55 July.
64 Jan. 20¾ Dec. 36¾ J~!:
. . . .. . . . . .. . . . . . . .. . . . . . . . . .
96½ June 85 Jan. 95 June
. . . .. . . . . . . • . . . . . . . . . • . . . .. . • . . .
. . . .. . . • . • • .... . ......... . ..... .
Feb . 80
May.155
18'"/1.
Dee.
Jan.
------
Highest.
'i0
":liii~: ·110· ":o"ec:
Lowest.
Highest.
61 Dec. 76 Aug
61 Jan. 76¾ Aug
59 Oct. '74 .A.J>i
60¾ Feb. 75 Ma,>
at Dec. 51J..(Feb
15¼ Dec. 29¾ Jlll::lJ>.
12,¾ Dec. 21½ Feb.
89 .,Jan. 911¾ .Jul'9
. . . .... . _... .
................... . _
lih~i: rar:~gs6s::.::: ::::::::::: :::::::·::: ~8.¾i;~;l ~g~ i';&~- ::::::::::: ::::::::::: :·::::::~ .. ::::::::::: :::::::~~: ~:::::::::: ::::::::::: ::_.. ~::~~
0
1s,~
.
DESCRIPTION
I
.Alabama-5s, 1886 .......... .
8s of 1888 .................. .
Arkansas-6s, fund ........ .
7s, L. Rock & Ft. Smith ..
California.-7s . . ..... ... . .. . . :
Connecticut-6s ............ .
i1eoritia-6s ................. .
1872.
Lowest.
Mar.
Aug.
40 Nov.
50 Aug.
109 Sept.
9 Jan.
70 Jan.
84 Feb.
55
80
,1ii:;~:~as:
·isio; ·coui>oi:t:::
Kentucky-6s .............. . : ·95··:iaii."
Louisiana..-6s, Levee . . ..•.. . 50
Oot.
Highest.
I
Lowest. \ Jii_gbest.
Jul y 57 Jan.
Au,:. 82 Feb.
Ju,w 40 Feb.
Nvv . 27 July
Dec. 116 J une
Oct.. 102¾ June
Nov. 82 May
Nov. 91 May
Nov. {19 July
Jan. 100 Aug.
Jan. 55 .Aug.
·Bi>"··Nciv:
Mi~h~~:~~ii. iss.q: ::::: :: ::. ········· ···
Oct.
Missouri-6s, iong . .... . . . . . . : ·o~··ei>t: 97½Juiie 85 Nov
.
NewYork-6s, bounty.coul,' 10 Oct. 109 May. 103
20 Oct.
No, Carolina-.:.as, old, J . &J . 80¼May. 38¾Mar . 14
Dec.
. 15 Jan. 23 Mar.
. 10 Oct. 16 Mar . 5 Nov.
99 Nov
Ohlo-6s, 1886 .............. .
May
Rhode Island-6s .......... . · -~·u ··Jan: io2¼June 98
Nov.
South Caro!ina-6s •. .. .. .... 40 Apr. 56 July. 22
23 Sept. 39 Mur . 8 Nov.
22 Jan. 86 Ap t·. 19. Mar.
68¼ Nov.
Tennessee--6s, old ...... .. . ~ Jan.. SO¾Dec. 62¼Nov.
6s, new ........ . ........ ... . 68~Jan. ~ Dec.
Oct.
Virgini&--6s, old ........... . 42 July. 50 Feb. 32
Mar. 44 •Oct.
6s,consol ......... .. . ...... . 50½ July.
g:; ~;:c1Ii t!l:::::::::::::
g:: i:~/o::::::::::::::::::
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
--
Lowest.
Highest.
J a n.
Apr.
Sept.
Aug.
110 Jan.
97 Jan.
65 Jan.
82 Jan.
95 Jan.
97½July.
15 June
Dec.
July.
Mar.
Jan .
114 Nov.
106 Dec.
80 Dec.
92 Dec.
102J.2 June
102 NOY.
Tov.
28
25
40
8
5
89
45
35
23
-
Lowest.
Highest.
25 D<>c- 4l½Jan.
25 Dec. 42 Ap r.
20 Jan. 88 nee.
8 Mar. 17 .lune
105 Jan. 117 May
10$ .Tan. 1110 lJec .
80 Jan. 96 Sept.
88¾J::tE. 104 Dec.
99 Jan . 104 Dec.
100 Jan. 104 Dec.
25 Jan. 40 Dec.
·g·--·iti°ay· ·w··:i:aii.· i04. ·niic: io1··:i:ai:i.· iM½ oct··
92½Aug. 98¾Dec.
103½ Jan. 110 May.
18 June 29 J~.
10 Aug. 2H11Mar.
5 Sept. ll½ Feb.
100 Jan. 106½ Ma y.
97 Jan. 105 Dec.
20 Apr. 30 Nov.
31 Dec.
6½ Jan.
12 Feb. 80 Dec.
91½Mar.
67 Oct.
91½ Mar.
67 Oct.
28 June 42 Jan.
58 Dec.
~Mar. 4iJ¼J&L
96!)4June
10
June
!33¼ Jan.
19 Jan.
l'iJ..i June
107 Apr.
101 Mur.
40 Jan.
22¼ Jan.
28 Apr.
84¾Ma.r.
85 Mar.
47 Feb.
1876.
1875.
1874.
1878.
62¼ Ma y. 45
90 Jan. 45
25
gJ½t~g_e 15
115 June 101
102¼: Dec. 97
77 J an. 59
90 May. 70
85
ioi"":iuii. 95
67¼.A.pr. 50
······· ··· ··
to 1877', tnclustve,.
94¼ Jan. 102~4 June
Ju.n. 109 June
Der· . 27 Jan.
7 nee. 16 Jan.
1 Aug . mMay
Jan.
108 Sept.
103
102 •Tan. 108 Oct.
26 Sept 35~2 Dec.
27 Aug. 35 Jul y
26 Sept. 35¼ Dec.
62 l<'eb. 78 J an.
62 Feb. 77¼ ,Tan.
so Feb. 40!-i> Oct.
55 Jan. 76 Dec.
10::i¼
15
Lowest.
26
26
25
8
Jan.
.Jan .
June
Dec.
!'!ighest.
l~i7.
I
Lowe~t.
35 Nov. 82
84 Apr. 32
45½ Feb. 15
2
18 Feb.
Jan.
Jan.
July
Aug.
-Iligbest.
-43 Nov .
43 ' Nov .
30
10
Jan.
Jan.
iis ·· :i~iie
io5··J':i.ii. iis-·No·v: ioa · ·oci:· 102%July
91 Aug. 97 Mar.
100¾ J an. 107½ June
100 July. 104 Dee.
100 July. 104)4 Jan.
87 Dec. 46 May.
52½ Dec. 69½ June
103 Aug. 107 Apr.
Sept.
101¾ Jan.
102 July 10 May.
13 Sept. 18¼ Nov.
9 Jan.
5 Oct.
¾Aug. 3¼Feb.
105 Jan. 114 Aug.
ill
Dec.
105 Jan .
80 June 40 Nov .
30 .Tune 871.(Feb.
37),i
F eb.
80 Juno
40~Dec. 49 Aug·
40 Dec. 4ll Aug.
22 Sept. 87 Jan.
78 May. 78½Nov.
lgffi
93 Feb.
103 Jan. 109~1\-Iar.
100 Jan. 108 Dec.
100 Jan. 107 Nov .
35 Jan. 56 Dec.
½May
50 Jan .
101 July 107 Juno
104¼. Jan. 108~June
101 Jan. :;.01 Feb.
15 Oct. 23 Jan.
6 Oct . 12 F eb.
1 Aue:. S½Jau .
!05 Oct. 114½ June
105 Oct. 111 May
82 Jan. 45 Apr.
30 Aug. 45 Apr.
30 Ang. 44 Apr.
86h Dec. 4'i~NoY.
85 Dec. 40, :;>,ov.
SO Jan. 34 Nov.
62¼ Dec. SS~J~ne
BT.AT.Jr
81COUBITIE8.
18't'8 to 1883, lnclo1lve.
1878.
1879.
1881.
1880.
DE3CRIPTION.
1882.
1883.
- - - - - - --1-- - - - - - -1- - - - - ---1- -- - - -
Lowest. Highest.
-----------1
----1---Al&bama.-Cl&SSA, 3-5s.1906 ..........••. . .. . .......
Lowest.
44
Dec. 26¾Jan.
5
Dec.
6 Jan.
1
Jan. 109 Apr . 104
Highest.
Lowett.
Highest.
Lowest. Highest. Lowest. Highest. Lowest. Highest.
---- -----1-----1
·----1---- -----t----Mar. 8l¼Dec. 79 Sept. 815¾Dec. 80 July 84 Jan.
Aug . 53 Dec. 54¾Jan. 73,½Dec. 71
Apr. 20 Jan. 10 Apr. 21 Dec. 20
Mar. 8¼ May
2 Aug. 12½; Dec.
8
Apr. 109 June 104 Aug. 107¾Nov. 102
Arkansas6!!,fund .. 18911-1000 15
Jan. 39 Dec. 20 Mar. 37¼Jan. 10 Ma.r. 28 Jan.
7s, various RR. issues..... 2
Apr. 40 Nov. 5 June 35 Aug. 7 Oct. 68 Feb.
Connecticut 6s ........ 1883-4105
Aug. 106 July 100 Mar. 103 Jan. 100 Jan. 103 June
6
1
G~~~~~aw .s .......: : : : : : : : : :
1~~
18~ ~=~~·
18~
~~:
½?8½ :1ap~·. ½8~
fg~¾
7s, i;rold . ............... 1890 105½ Feb. 109 Dec. 107 Jan. 113 .June 109 Apr. 116 Dec. 111 Apr. 119,½ June ll2½ Aug. 117½ Mar . 112 Aug. 116¾ June
Louisiana 7s,consol. .. 1914 69¾Dec. 84,½Feb. 36¼Aug. 67¾Jan. 40 Aug. 54~Dec. 53¼Jan. 69 Dec. 63 Apr. 71,½July 63 Apr. 75¾Nov.
8
MJ~~.i~.~~.~. :::::::::·:::·½~ro
½35½i~fy
~~~~· }~8 1~~~
ii4 .. Feb· 1is··Jan·
Missouri 6s . .. . ... . . . . 1882-83 101 July 104¾ Dec. 101 Aug. 105½ June 100 Jan. 105 Nov . 102 July 108 July 100 Jan. 103 Dec. 100 Jan: 103 Jan:
Os .... . . .. .. ...•. .... 1881HI0 102½ Au~. 107 June 103¾ Aug. 108½ June 105½ Jan. 111¼ Dec. 108)4 Jan. 117 Apr. 109 Jan. 115 June 109 July 113 June
t<·undlng bonds ..... 1894-95 104 Sept 109 June 105 Jan. 112 May 106 Jan. 115 Nov. 111 Jan. 119 May 113 July 120 Nov. 116 Feb. 1;;1 June
Han. & St. Joseph .. .. 1887 100 Apr. 106)4 June 102 Jan. 107~, June 102 Jan. 110 Dec. 107 Jan. US May 100 Jan. 109½ Dec. 108 Jan. 110½ Apr.
New York 6s ............ . 1887 113 July 115 June 106 June 110 Jan. 106 Jan. 111 Oct. 105 Jan. 112½ May 108 Oct. J.12 June 107 Jan. 110 Apr.
6s, loan . .. .. ........... 1883.. .. ...... . .
. .. . .... 106 Mar. 110 June 104 Dec. 107 Mar. 102 Dec. 110 Apr. 101 June 105 June........ . .. .
. ... . •••
6s, loan ......... .. ..... 1892115¼ Jan. 124 Nov. 117 Sept. 121 Feb. 115 Dec. 120 Nov. 115 Jan. 122 July 119 June 121 Feb. 113 Apr. 120 Jan.
N o.Carolina6s,old .. 1886-9ti 147<!July ll}¾Dec. 17¾Feb. 28 Dec. 1!6 Jan. 82)4Dec. 32 Feb. 40 Oct. 20 July 3~Nov 28 Jan. 82 Mar.
N. C. RR .. ........ 1883.4-5 65 Feb. 85 Dec. 85 Jan. 111 Dec. 110 Jan. 115 Ma.r. 115 Jan. 150 Aug. 120 July 156 Nov. 155 Jan. 160 July
do .
7, coupons off.... 45 Mar . 65 Dec. 65 Jan. 92 Dec. 90 Jan. 95 Mar. 90 Jan. 130 July 100 July 130 Aug. 130 Jan. 135 July
Fund101? act ...... . 18tl8-98 H Aug. 11% Dec.
7 :M:ar . 14 Jan.
9½ Jan. 1~~ Dec. 10 Dec. 16 Nov .
8 June 11 Jan. 10 Jan. 11 Apr.
New.bonds ...... . ... 1892-98 7 Jan. 11 Dec.
8 Feb. 15½ Dec. 15 Jan. 20 Dec. 20 Oec. 28 Apr. 12½ June 20 Jan. 15 Jan. 16 Apr.
Special tax, class 1......... 2 Jan.
2½ Apr. 1 Mar.
5 Dec.
2 July
6½ Jan. 6 Jan. 9¾ Apr. 5 June 8 Jan.
4 July
~ Jan.
7
82
o~fonJ~'.:.~s::::·:::::::::i~? io2 .. Dec: ii>6 . . May io'i"Yan.' ioif.May· 1t8 J~~ 1r~8~t l~~Y~!·. lg~½1~~:
~ep~. - ~~ .• ~~~-·
7¾Feb.
~Dec.
6~ ................... , ... lf;R6 105 Jan. 111 Dec. 10~ Mar. 115 Oct. 106 Jan. 112 June 107 Dec. 115 June 106 Feb. 112 June 100 .. Feb i09½Mar.
r:oi~faif~aci~P a·ct:1::-~9~ 105 Jan. I117½ May 110 Ja.n. 116 May lOP Jan. 121 Dec. 114 · July 120 Feb. 110 Jan. 120 Feb. 115 Jan: 118 May·
23, '69,non-fnnd.1888 ... f
!'.(Feb.
2%May
Feb.
4 Oct.
2 Jan.
6¾Jan.
4711Jan. 12¾ Nov. 4 July l0¼Jan.
2¾May
6½Jan.
Brown co:asol. 6s ...... 1893 . . ... .. . . ... .. . .. . . .. . . ..•.... . .. ... .. .. . .. . . . ..... .. ...
.. . . . 102½ Aug . 106½ Dec. 100 June 105 Dec. 100 July 104¾ Dec.
Tennessee6s, old ... 1890-2-8 SO Nov. 39%May 30 Feb. 41 Feb. 30 Apr. 50 Dec. 45 Jan. 78 June 41 Dec. 77%Jan. SO July 44¾Feb.
6s, new ... . .. . .. 1892.8-1900 25¼Nov. 87½Jan. 24 Mar. 33½Oct. 25 June 48% Dec. 45 Jan. 777~June 40 Dec. 77J4Jan. SO July 44 Feb
Virginia6s,old .............. 20 June 31 Feb. 25 Jan. 35 Mar. 1 18 Jan. 32 Dec. 30 Jan. 40 May 28½June 36 Feb. 30 Ma , . 40 Ma,y
fls consol. .. ...... . .... . ... , 66 Feb. 75 Ma.y 74 Jan. 86 Oct. 75 Jan. 105 Dec. 104 Jan. 121 Ma.y 80 Mar. 100 July 50 Mar. 82½Jan
6s deferred . ... ......... , .. . 4 Feb.
7¾Dec.
~Sept. 8)4Ma.y
5½Jan. l7¼Dec. 12½Feb. 20¼Apr. 10 June 17¾Jan.
6 Oct. 13 Jan:
:t~i
m1s h~l.
m: ½W'~ t~i:.
½&A if:!3i m ggr_-
tr~:
m B:~: mg
I~~·. m 1 ½8l !~t
m.½1~~: m i!~: m ~~rm :I:~: rn~
iia:i
1-iB~
i~ f:J!e
.?~ ..
!
1884 t o 1889 , in clusive.
Lowest.
--------- -- - Alabama-Class A, 3 to 5.1906 78
--
Sept
1886.
1885.
1884.
DE~CRIPTION.
Highest.
Lowest.
83
81½ Jan. 101
Dec.
Highest.
Dec.
Lowest.
97
1887.
Highest·
Jan. 108
Lowest.
Dec. 102
1889.
1888.
Hig l est.
Lowest.
Highest.
Lowest.
Highest.
Sept 108¾ Apr. 103¾ July 106½ Jan. 102¾ Jan. 107¼ June
gg i:~: ½&A B:g: 18I f!~: ~g t:!: ½&g i~~ ½~~ ~~~: ½8~¾Jiify ½~& ra~· ½~ b~l ½~¾1:le
it i:~: 18~ ~i~·.1~ b~t ½8m~~:1gg ~m ½8g ~:r ½?i8 if~. i~2¾tJ~elgg Yiry ½8: i~i~
l g i:~: 2~¾ f :~·. 1~ ~c~: M¾ B:g: ig ~~~: M ~~
g Apr. ~¾Nov· t wart ~ yec.
~::r:e:.❖-<i:~}~~slr~~~~:: ~
lit ½8 1:~: ½8 i:~: ~½g~;;. ~~t:~: i~ ~~: :r ~~l. g ~g l~i ~ ~i!t ~ 1:i
l~~ i!t 1:r~~t1~i ?ii 1:tt!it .~~J?r r~ fg~: § ~;~: ¥¾i~n,;. . t.~~?. .!};~
7s, new bonds ........... 18~6 100 M.ay 106½ M11y 101 Jan. 105½ June 100¾ Jan. 102½ Mar.
~:::~fJ>ts;g~s:::::::::·:½~8½8~ ~:z i~i½ : : r i8i½ f!~: m~t,~~efgg~i~~: i~~f~f ioCNciv: ioii .. Yaii.· ioi"Yiifr 106 .. Mar: ii>:i¼Oct:· ios···Jan·:;
Louisiana-7s, consol. .. . .19H 65¼ June 78 Feb. 73 Jau. 87 Dec. 64 Jau. 94 Nov. 93 Jan. 102 Oct. 100 Jan. lu9 Nov.105 May 109 Jan. ,
fil:::ti~~~~:::::::::::i0·oa i~~da~~• 1g~i_&tr·.
~~lt~b~~::::::::::::::: .½~&1Zg
.Arkansas-6s, fund ..1899-1909 ~
~~ty
lg~¾ fa8;:
~ct. 16 Mar.
~m Ii
o!t~~~~Jr.;·!~:::::i~ci 9! l* l:~ftt.
S:t 2
Stamped 4s. . .
. . . . . . . . . . . . . .. . . .. . . . . .. . . . . .. . . . . 63
7s, small bonds............... 62 July 72 Feb. 65
M~~11;~~fs~ .c~~pon ..-.:·.islio 1i8
l~~½ i : t 1&i
l::!ept
Oct.
1~1~
8
MA:s.~~.i~. .'.~~~.~~.~::::i88•ri88
6s .............. . ......... l&:!8 103
6s . .... . ........•.... . .. 1889-90 105
Asylum or Univ . ........ 1892 107
~':i~tbins~~"j<>:::.~~~~~m
1~~
i8~½
July 109¼
July 111
July 115
ii8½
~;r
Apr.
Jan.
May
~:~:
ifi!1i
75½ Dec. 67
75 Aug. 67
1~
Feb.
Jan.
82¾ Nov. 79¾ Jan.
78 Nov. 80 Feb.
"ti~t ios .. Nov: ifa"J'aii: 105 .. Nov: 109
1:~: 109
½8~~1~~:½8g 1:~: ½8!¼,~;· 100
June 103½ Aug. 106½ May 100
½8~
103 Jan.
105¾ Jan.
107 Jan.
J!fy
113
117
Juue 107
June 110
Jan. 110
Jan. 113
f~fy i~~
N:;yn~~:!ls~~oi8.'reg:J~it8~
1
Jan.
Jan.
July
Nov .
Mar. 104
Mar. 108
l~.~ .. ~~~:.
g~
m i_;~~i~g
i_°J;.
We~ i58½~:;: i8~ f~~ ti; tf{,: ½8½ b~?. mi i~~: t88
g:: ti!~ ~~~~~.~.:::::::::½~i m J:ai; m ½ i~t m i~f m½ i:~: m ~i~'t i~~ 1~~. i~
6s, loan .......... . ........ 1892 115 Jan. 116 Jau. 113 July 122 Dec. 112 Apr. 120 Aug. 112
1
1
1
1
1
N~~·d~:~1na~s:·oic1·::issf8~ J~:I::e ig½::~ ti 1 ~ ~ ~i~ }g flt ~~~~: ~g
6s, old, A. & o. ......... .. . .. . 27½ June 32½ May 30 Jan. 31 May 30 Jan. 36¾ Mar. 35
~:8:: n::1s:·c()U;~~ m f:~: mi i~: ½~i 1:~: ½t 1:~: ½~~ 1:~: m ~:: ½I8
N. Car. RR., A. & O. .. ... .. 160 Jan. 1_60 Jan. 160 Jan. 165 Jan. 165 Jan. 175 Mar. 170
~~l!r:.:~:.~~~tsiHfoo 13g i~t 1~~:i 1r8 1~: 1rf iti!1i 1rg f:~: 1it½~: 1~
~d~~t;.tLi·J°:.~:~~~~ 1~ i<;;g. mm:~ ½i 1:~: M I~;. ½8 i:~: ~~½ ~:~: ½i
1
1
2
2
g:;,~~:Jid'li-t:
& ~:::::::::::
f t~f l~J4
r:: 12~ :I:~:
} t~f i t:~i, i~ ~:t
~
Special tax, class 1. . . 1898-99 I May
4 Mar.
Jan.
8 Dec.
8 Jau. 14¾ Nov. 8
if~:
i~Iy
i~~
Wtiuds:: ·:::::::::
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
i~ ~!;
m
ti~~: ~5 i!~:
f!g:
m
00
B:g:
1:~:
mrn; i~
88
86
00
Oct: i05
102,½ May
103½ Mar.
107,½ lj~eb.
112 Jan.
11~.. . ~an.
July
July
00
Feii.'
93
90
Jan.
Feb.
86
84
Feb.
Feb.
94¾ Dec.:
91½ Dec.
io6 ·· :-;aii.' io5"J'aii.' 107 .. Ma:y·
............ .. . . ..... .
100 Jan. 102¼ June
101 Aug. 103½ May
103½ July 107 Jan.
106 Mar.108 Jao.
···········
........... .
100 Jan.
102 Feb.
104 Feb.
.. .... . .. . .
........ . .. .
103 Dec.
108 Mar.
112½Mar.
m f~~e :::::::::::: :::::::::::: :::::::::::: ::::::::::::
m ~~~~
July 115
107
Jan. 107
1
f!~: g~
Jan. 35
July ii2 · ·Jari.'
Oct. 115· Jan.
1
Y~:
Jan. 36 Mar.
:::::::::::: ·: : :::: :::::
106 Dec. 111 Mar.
1
1
1~1
l}~
~3 lti!1i. 30g& i:g:
Psl4 Ji~~
Jan. 35
Feb. 37 May
i:~:
m ~"o~. igg !~t ½I8 f:~: PJ :fa~ ½ro1 ::~
Jan. 170 Jan. 150 Aug. 170 Jan. 150 May 180 May
1
i~i. t~½ tr~;· ~-ta~~· 1i8 i:~: 118 f!~: ~g½ ~ : ~
te~· ~~½ ::~·: rn t:g. ~g 1:~: ½i ita°i ~g¼ ~~
2
~:g~
i~ ~pnr. lg t:!: 2~ ~~·. 1~5 Ni~.
g 1:~:
Dec. 16½ June 6 Nov. 11 Feb.
Aug. 10 Jan.
Special tax, class 2... .... ... 1 May
3¾ Aug. 2½ Jan.
4¾ Dec. 10 Aug. 10½ Oct. 10 Nov
Special tax railroad issues.. 1 May
3½ ~ug.
2¾ Jau.
4½ Feb. .. . . . .. . .. . . . .. . . . . . . . . .
8 Dec.
6s .. .................... 1919 102 June 108 Sept 105¾ Jan. 115½ Dec. 115 Jan. 129 Sept 117 Dec.
1 1
~~na
:~.~~~
~~¼
~½
~
lgg¾ ~~~. :
6
fs·i anci~as:cp:::i8/~g
~~~ i~~
1~~: igg JJ~e
1~fi iis .. Feii.'
South Car.-tlfn~. dact. , '1.ar. ::i3 i
2 Jan.
6 1L Oct.
5 May
71 " Dec.
5 Sept
1861}, non- n . 1888 .... . . . 5 1 June 3½ Mar.
7'"' .
74
Brown consol., 6 ........ 1893 100 July 107 Dec. 104¾ Jan. 109½ Sept 104 Sept 110½ Nov . 104 July
Tennessee-6s, old ... 1890- 2-8 35 June 48¾ Apr. 4-2 Jan. 52½ Nov. 53 Jan . 65½ Dec. 57 Oct.
6s, new bonos . . 1892-98-L9v0 35 June 43 Mar. 41¾ Jan. 52½ Nov. 53 Jan. 65½ Dec. 57 Oct.
6s, new serie~ ... . ....... . rnl4 35 June 42¾ Apr. 41¾ Jan. 52½ Nov . 53 Jan. 65¼ Dec. 57 Oct.
Compromise,3+5-6s ... 19li 41 Jan. 49 Apr. 48 Jan. 61¼Dec. 62 Jan. 75,½Dec. 67 Oct.
New settlement, 6s ... . .. 1913 . . . . .. . . . .. . . . . . . . . .. . . . .. . . . . . .
. ........... 103 Aug. 109 Dec. 100 Nov.
New settlt,ment, 5s .... . .1913 .... . . . .. . . ....... . .. ...... . ............... . . . .. 100 July 102 Aug. 100 Jan.
New settlement, as ..... 1913 . . . . . . .. .. . . . . .. .. . .. .. .
71½ June 80 Aug. 68 Sept
Virglnia-6s,olct .... . ..... . .... 33 July -10 J au . 37 Jan·:·:i,5··Nci~: 42 Jan. 47 July 47 Jan.
6s, uew bon<ls . .......... .1866 33 July 40 Jan. 37 i J a n. 45 Nov. 42 Jan. 47 July 47 Jan.
6s, new bou<ls
... . .. 186i :~3 ,July i0 Jun. 37:, ,Jan. 45 Nov . 42 J an. 47 July 47 Jan .
6s, consol. bo nds ...... ...
45 J ul y 65 J an . 50 J a n . 85 Nov . SO Jan. 100 Mar. 75 Dec.
6s, ex matu r ed coupons . . .. 30 .July 42 Jan. 37 J a n. 55 N ov . 50 Jan. 60 lJ'eb. 41 Dec.
6s, consol., ¼ct series . . .. ... .. 40 July 56 Uec. 50 Jan. 60 Dec. 60 Jan. 69 Julv 60 Ju n e
6s, deferred bonds . . . . . . . . . . . 4 Jun e 9 J an.
4 !Apr. IaM Oct.
9 Mar. 13¾ Nov . 7 D ec.
Trust receipts .. ..
.. . ..
. . . . . . . . . . . . . . .. .. . . . . . . 10 Dec. 13 Oct.
9 Mar. 13¾ Nov . 8 Sept
Dist. of Colnm.-3·65s,cp.. 1924 106 July lH Apr. 112¾ Feb. 116¼ July 116 Jan. 120 Oct. 115¾ Dec.
Funding 5s, coup, ... . . . . 1899105 July 112 Ma.r. 109 Jan. "-10¼ Jan. 110 Jan. 112¾ July 104 Dec.
~!~<1e
92¾ Mar.
89 Apr.
B:g:
W½ June
l(J½ June
ms~ Mar.
l~~
1:~:
7¾ Oct. 11 Feb.
6
6 Oct. 11 Feb.
5
118 Jan. 123½ Aug. 122
~~
~g;: ~g i~:
120 .. Yaii. io6 .. Feii.' iis· · :raii.'
7!1L
3 .Aug. 5 Jan.
7 .Apr.
4
109¾ Mar. 10! Jan. 107 May
65½ Jan. 57 Mar. 64 Dec.
65½ Jan. 57 Mar. 64 Uec.
65½ Jan. 57 Mar. 64 Dec.
7tlJ41.i'eb. 67 Mar. 73 Dec.
106½ Feb. 97 Jan. 105 May
103 Mar. 90 Feb. 99½ Dec.
78½ M<tr. 68 Mar. 73 llec.
48 Jan. 40 Ang. 50 Oct.
48 Jan. 40 Aug. 50 Oct.
48 Jan . 40 Au1£. 50 Oct.
05 ,Tan . 65 Apr. 75 Jan.
53 Jan. 32 June 40 Jan.
<l5 Dec. 50 Apr. 60 Jan.
15 Jan.
5 Oct.
8½ Jan.
10 lfeb.
7 Mar. 10 .Nov.
12t June 116 ll,eb. 122 Dec.
109 l!'eo. 100 Mar. l UU Dec.
~~
Fet>. 10
July 10
Apr. 127
Jan.
Jan.
June
1:~: : ir~~e
10s ·nEici.' ii1 " ida;:
3¾ Apr. 5 Dec.
101 Sept 106 June
63 Aug. 68¾ Sept
63 Aug. 68¾ Sept
63 Aug. 68¾ :-ept
73½Jan. 78½ Sept
102 Jan. 110 Dec.
100 Jan. 105 June
71 Jan. 76¼ June
48 Jan. 48 Jan.
4.8 Jan. 48 Jan.
48 .Jan. 48 .Tan.
50 July 'iO Feb.
32 Jan. 42 June
35 May 50 J a n.
7 Jan.
8¼ Sept
7 Aug. 10¼ Jan.
120 Feb. 124 June
106 Nov . 110 Jun13
S~.A. 'l'k SEOtllllTik8.
1890.
SECURITIES,
JANUARY FEBR'RY.
-106½
103½-107
108 -109
100¼-102
a~::~:~;~J~1~~~1~-'f?io
'is
1
~~t_lft'. ;Ft..s.'issiie:.'::
7s, :\'lemphis & Little Rock
7s,L. ll. P. B. & N. 0.....
7s, Miss. O. & R. R....... .
7s, Ark. Central RR........
i~~ifi~;t~7:,0 ~%:~~~si~~~:
Stamped, 4s. . . . . . . . . . . . . . . .
\ti~hl::1i~~~~.nfJ90 :.: ·::::.
Missouri-6s, 1880-1890 ......
Asylumand Univ., 1892 ...
l!'unding IJonds, 1894-95 ...
ew York-6s, loar., 1892 ....
6s, loan, 1898 ............ ..
~o. Ca.rolina-6s, old, '86-'98
6s, old, A.& 0
...... ...
N.Car. RR., 1883-4-5 .......
N.Car.RR.,sevencoup'soff
N.Car. RR., A. & 0
. ...
APRIL.
MAY.
JUNE.
JULY.
AUGUST. SEPT'BER. OCTOBER. NOV'BER. DE0'BEB.
Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.Jligh Low.High Low.High Low .High
---------- l<lS
Alabama-Cl. A, 4to 5, 1906.
Class A, small. .............
Class H, 5s, 1906 ... .. . . ..
Class C, 4s, 1906 . .. .. ..
MARCIi.
- - - - - - - - ------
9
9
9
9
5
107
107
110
102
- - - -106½-107½
- - - 106¾-107
----- 107
- --107¾
----105 -105¾ 108
-107½ 107 -107¾
-108 107 -107¾
110 -111
-102¼ 100 -102¾
-112
- ff' 'io :: is½ 'io : ii>''
_ io .... 9 : .9.... 5 : io"
- 10
- 10
- 10
- 7
9
9
9
6
-
9
9
9
7
5
5
5
6
- 10
- 10
- 10
- 7
lOo½-107½
lOU -110
102 -103¾
1
1
U¼::
12~
4 - 5
4 - 6
4 - 6
4 - 4
106!J,t:-107
110 -110
102¼-102¾
1
1
~~¾
12~ ::rng
5 - 5
5 - 5
5 - 5
5 - 5
1~
5
6
6
5
::12g
- 5
- 6
- 5
- 5
95½- 96'¼
18~:: 1
100 -100
102 -102
HO -110
109 -109
109 -10\l
35 - 35
35 - 35
200 -200
160 -150
200 -200
94 - 95½ 1:14
-~~ 92 90
100 -100 .. ioo
102 -102 102
110 -110 110
109 -109 109
109 -109 109
35 - 35
85
35 - 86
35
.... - ........
.... - .... ....
.... - ........
- 94
: 91
~Z¾ n¾::
:rng
m¾::½8~¼ t8a¾::~8J¾ rnA¾:½8~M rng½j~¾
\!3
1~
100
101
110
105
105
85
35
180
150
180
- 97½
: 18~
-100
-102
-110
-109
-10\l
- 37
- 87
-180
-150
-U·0
116½- 97¼ ll5 - 91\¾
8i :-100
1~:½l8~½=l8~
100 -100
1
100
102
110
109
109
35
35
200
150
200
-102
-110
-110
-110
- 35
- 85
-200
-150
-200
102
110
109
109
35
35
....
....
....
-102
-110
-109½
-109½
- 35
- 35
- ....
- ....
- ....
107 -108
JlO -111
102 -102!)4
1
1
n¾:: ~i¾
105 -107
110 -110
101 -101
1
1
~~=
::12g
6 - 6
6 - 6
6 - tl
R - 6
12g
-105
103 -10~
1(18 -110
100 -101
1
1
103 -104
103 -105
lOS -108
.. ..
.. . .
1
1
~~j 1&½: ~~
13g
l~i ::lfg
6 - 6
6 - 10
6 - 6
6 -- 10
tS - 6
6 - 10
6
6
6 - 10
~8¾ Y&¾::
::rng
108 -104 103
103¼-105 108
106 -107 lOtl
.. - ........
1
1
~~=
14~
7
7
7
6
~¾
::15g
'io : io''
1~
- 8
4
- 8
4
- 8
4
- 7
4
io5
- 9i% 90
: 90
90
-lOa°. .. ..
-103 i02
-110 110
-109 108
-109 toll
- 35 ....
- 35 . . . .
- ........
- ........
- ........
½8g74jgg ½81¾:½8~ rni¾::}gi¾ lgg½:rni¾ }85 :½86¾ mg ::½gg
81½
:
91 - 93½
89 :: Sil
-loi" foi -loi ..
-108 102 -103
-110 110 -110
-IOY 109 -109½
-109 109 -109½
- 35
35 - 35
- 85
35 - 85
- .... 200 -200
.. .. 160 -lflO
- .... 200 -200
88½- 89
88
ioo
102
110
109
109
35
35
....
....
....
85 - 88
:: 87
86
-100 .. ioo
-102 102
-no 110
-109 109
-109 109
- 35 f35
- 35
35
- ........
- ........
- ........
88
86
: 87
-100" 1.03
-103 103
-110 110
-109 109
-109 109
- 35
SO
- 35
so
- ........
......
- ........
-103¾
-104
-107
- .. '..
::15g
103 -108¼
108¼-lM
105 -106
100 -100
10
l(lg :: :~
15~ ::1~
8 - 4
8 - 4
3 - 4
8 - 4
- 6
- 6
- 5
- 5
:1015°. io5
- 94~ 92 - 93
: ~~-- -~~- : ~~--103 .. ii.ii -1of'
- 110 107 -110
-100 10:i -108
-109 lUG -108
- .. .. .. - ....
- . . . . . . . . - . ·, ·
- ..... .. . - .. ..
- ........ - ... .
- .. ...... - ... .
:1or·
~~~8l1~1;c1~i~g0~Y~~~-~ 1i8 :1~8 1~8 :1j8 :::: : :::· 1~8 :1i8 :::: : :::: :::: : ·::: 1f8 :1f8 :::: : :::: "iO = i6 .. ·i"o : io·· "iO : iO 'i"O : io··
i~~dl~t!;:/tt~rs~2--98 ~g : ~g
~8 : ~g :::: : :::: ~8 :: ~g ·20 : 26" :::: :: :::: ~g : ~8 :::: : :::: ½8 :: ½8 ~g =½8 ½8 :: ig ½~ :: ~g
g::;,~~!d~k-~?::·: ::::: 2g =2g
2g : 2g .... : .. . ~ :: 2g ··4· : 'f. "¥½: '5" 2~ = 2i "5' : '5" 2g :: 28
2g : 2g
2g : 2g
2g : 2~
Special tax, class 1......... 8½- 10
6 - 6 .. S - '(i' · 4 - 6
5¼- 5½ 5 - 6
5½- 6
5¾- 6
5 - 5½ 4 - 5
4 - 5
a - 4
~~:gt:n:;: ~!riso!iiissiies 7½: 10.. 96g -= 96½
~ ! : l
l : i¼ gtz: ft: g : g .... : .... &~:: g ~ : g~ ! : g .... - ........ - ....
Consol., 4s, 1910 .. .. . . .. . 96 - 96
95½- 96
95½- 97½ 977,i- 99
911 -100 · 00 :: 0' 0.. 9 6!14: 97
97½: ~H
0 z - 98
· i;i'i :: 98 .. · 9R¼:: 97 ..
Sron.11 bonds....... . ...... 94 - 96
94 - 95
98 - 95
94 - 94
9
94 - 96
95
97 -100 97
95
.,7
97
96
95
95 - 95
95 - 95
6s, 1919 ..................... 124 -124 124 -125 123 -124½ 123½-124 124 -125 124½-126 125 -127!14 126¼-127½ 126 -127
Rhode lsland-6s, cp., 'f/3-94 104 -106½ 106 -109 109¾-112 lOfl -112 112 -112 109 -112 109 -109 109 -109 108 -109
South <'arolina-6s,act Min.
'
23, 1869,non-fund., 1888. 4¼- 5½ 3 - 4¾ 3 - S½ 3 - R¾ :%- 4¼ 4 - 4¾ 4¼- 4'?1, 4 - 4¾ S½- 4
T:~:s~e~tol~~•t~:~2:_8 igr~:1~~½ 1g~½=lg~ 1g~ :lg~½ 1gJ :1g~ 1g~ :1g~ 1~~=1~~½ ~8¾=1~
':r?_ :
~~
6s, new bds., 1892-'28-1900. 67 .. 67
67 - 67
67 - 67
67 - 67
67 - 67
6~½- 70
70 - 70
71 - 71
67 - 71
6s, new series. 1914.. .. . . .. b7 - 67
67 - 67
67 - 67
67 - 67
67 - 67
69¾- 70
70 - 70
71 - 71
67 - 71
Compromise 3-4-5-6s, 1912 77 - 77
77 - 77
78 - 78¾ 78 - 78
77 - 80
80 - 81
flO - 81
81 - 81
77 - 81
New Settlement, fls, 1913. 105 -107 107 -108¼ 109 -109 107¼-108 108 -108¾ lOli -109 106 -106 105 -105 105 -106
New Settlement, 5s, 1913. 101½-10~ 102 -10~ 101½-102 101 -103½ 102¼-103½ 102½-108¾ 103 -103 .... - . .. 99 -100
7
.?~¾:
~
ii½-=.~½.?~½=~~ ..
6s, new bonds, 1866 ....
- ........ - ........ - ... . .... - ........ - ........ - .. .. 50 - 50 .... - .. .. 5~ - 51
6s, new bonds, 1867.... . .
- ... . ... . - .... ... - ........ - ........ - ........ - .. .. 50 - 50 ..... - .. .. 51 - 5l
6s, consol. bonds . ..........
.. ...... - . . ..
- .. . . .. . - . .. . .... - ........ - . . .. 65 - ~5 .... - .. 60 - 60
gs,ex-m~tu;3ct c~upons..
.. ...... - ..... .. - ... . .... - ....... - .... 1.... - ....
~
6::~~t!~re'd bg~~s~~::::::. "ij - '(i'' "5 :
"5 : 6..
9¾:: '0u "5 - 'f' 6 - 7
Trust receipts, 6s . .. .. . .. .. 8 - 8¼ 6 - 7½ 5 - 7¾ 7¼- 7½ 8 - 9
8¾- 10¼ 10 - 10}:1 9 - 10
8 - 9
1
O~~~sc~1~:b~:~J?ats·,ifi24 i.24 :125" fai¾::122 .. ifoHii½ i2'i¼::tlfo1i i2'i~12iij i2'i½::12i½ fai¼-12i¾
- :::: -~~ : ~~ ..
Funding 5s, 1899... • .. ..
• .... 109 -109 108 -108 109 -lOu .... - ........ - • .. • .. .. - ........ - ........ - • • . .
~t
:~:'= ~~~~ -~½::
:~~ .?.~Y:: ~~ .. .
rf:::iri?a~~~ff~:.~~·-~~~~:
'a":::: : ::::
"a :
·-g~l"7 : 's"
-
S¾- 4
:1~
o7 - 67
67 - 67
77 - 77
104 -106
101 -101
~~
120 -121
108 -108
3 -
3½
ii :: ~~
65 - 65
65 - 65
75 - 75
102¼-104
- . ..
111-i -120
105 -108
8 - 3~
~\s= ~~½
62'-'!- 6:!½
6 1½- tt\?½
7•? - 7~ ¼
100 -102½
95 - 1·6
'ft½::~~ i3½: r~ :~~ : ~~ .. -~~-¼: ~~~
50 - 5-
.:~_½: :~ .. -~-½:: :~~
0
:: rt_
u
122 -128
109 -109
gg - ~g
·· :: ... ig :
1
50 - 50
60 - 60
ti : t6
88 _-
. ...
-
........
-
.. ..
.... - .. ... - ... .
.... - ........ - ... .
: ........ : ... .
~!1 8 -
·s·
u-... 7¾- 8½
35
:::: :: :::: -~ :
"7 6 -
·s··
7~
1i~ ::1~!
.. .. - ........ • .... 107 -10?
) tj9J.
[From actual sales at the N. Y. Stock Exchange.]
JA~UARY FElllt'RY.
MARCH.
APRIL.
MAY.
JUNE.
JULY.
AUGUST. SEPT'BER, OCTOBER. INOV'BER, DE0'BER.
SECURITIES,
- - - - - - - - ·· - - - - - - - - . 1 - - - --1 - - - - - - - - - - - -·- - - - - - - 1 - - - - - - - - - - 1 - - - - -_ _ _ _ _ _ _ _ _ _ _ 1Low.Higb Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.Jligh Low.High Low.Hlgh Low.High
Alabama-Cl. A, 4to 5, 1906. x102-103½ 103 -lOi
Class A, small ... ........ ....... Cla~s B, 5s, 190~ .. .. .
.. ..
A~;J~:~;!.J~•dilo,ft'i-J~~?: : : : : 7s, L. R. & Ft. S. issue.. . .. .. .. 7s,L. R. P. B. & N. 0.. . .... Fund. tls, ''non-Holford".. . . . .
Dist. of Col.-Cp., 3-65s, 1924 .. ..
.. .. .. ..
L~~~i!~:~ioi:isoi:;.;a::::::: xiii½-=- 9:i'
CoPsol., 4s. small.... . . . 91 - 91
0
-~---=-=
103 -104 108¼-103¼
102¼-102¾ :01 -101 100!,i-101
.. - ........ - ........ - ........ - ....... . - .... 102 -102
108¼-108¼ 10:,¼-108¼ 108¾-108~ 108¼-108¼ 105!1:f-105¾ 105!14-lUtl
- ......
. .. .
7 _ 'f • .. ..
.. ..
100 -101¼ .... - ... 100½-101¾ 102¾-103¼
- ........ - ...... ..
101:l -106 106¼-106¼ 107 -107¼ iQ7½-108 ..
95 - 95 .. . • - . . .. 97 - 97
g7 - 97¾
.. 6 - 11
=_ :_ ·_· :_:_ I ·.· :_ :_ ·.
4¼- 4¼ ...
... ....
. . . 151l 15 6
-li5½:::: - : : : : iis -118¼ 113 -114 114 -114
1
- : : : : ii'i
93½- 93½ 8°9!14- 02" 90¾- Oi½ :::: - :::: 86½= as" 85 - 8:5°' .... - :::: 85½- 87¾ :::: - :::: 86 0
0
0
0
0
0
b6 - 86
~~~ iM~: ~t~
0
Ni:n:, ;lir~c1I/:,8~Pfa~~s .... - .... 121¾-121¾ .... No. Carolina-Chatham RR. 4 - fl¾ .... ....
. . . ....
West. No. far. RR. 6s . ........ - . .. . . .. .
4 - 4
S~;~!l~!!e.ipts·.::::::::::.
5¼-
.. ..
"5 - '5" ....
g: g
......
5¾ :::: ccf~:~eii,:-ii:li'o":::::·:::: ·ou - 97" 96¼- 97½ 'il6½= Iii" 108½:108½ -~·o¾=loi" 10~
('s~T0fP~~~~:::: .. ::::::-- .~:½- ~~~ .~.1. - ~: .. -~~ :: ~~ .. 124 :12,f .... - ........
. .. . ··5·
.... "ii¼- 5½ ::::
0
0
~};g:st~"i~:,r:~~:~: ib~
=1ri~:: ib;½~16i::
N~:~~ttienie'nt:5s,'igis:: itO½=lOO¼
Small .......................... - ....
New ~ettlement, Ss, 1918 .. x'l9 - 'i1 ,
Small...................... 61J - 70
vgifn~i~!:~e~~1,tt·d-!J~ "ii : '9ij
0
~~~t;~;.;lpta::·::::::·:::: "ij :
Trustreceipts,stamped .. 8
8
:1~e~ :~:~ - 99"
- ::::
-lof' .... : ·::: ~~-1 =102½ 102½-103
m¼'=m¼ rn~¼~rn~¼
i24 -124 ..
10'i -loi"
'iii¾-
97½
·o,; - 9b½ 'ii~-%- osij "9"7
i2sxj-12si~ :::·
icii
...
-104½ io¥½-1oi::
½88 ::188
-
08¼
~it\~½ .2¾= ;~~
'iis - 99"
~g~lt8~~
io0;14:1oi½ i.cii½=lOi½
'ilii¾::100"
1()0 -100¾ 101 -10(' '99 -lOi¾ '99 -1oj"
101 -101 .... - ........ - ........ - ........ - ....... - .... ....
.... ....
.. ..... - .... 102 -lu2
70½- 71¾ 71 - 71¾ 70 - 71
69¾- 70
67 - 68½ 67¾- 70
7u - 71
61:1¾- 70¼ 69½- 7•J½ 611¾- 7• :-~
.... - ........ - .... 6\J - 61J½ .... - .. .. 613½- dtl½ . . .. ..
. - .. .. 66¼- 68½ e6 - 68
68 - e8
7
U¼ "g - 'g" .. 8%- ·sij "8¾- 8¾ "i:i - .ti . .. .. - ---~ 7
~ "'s½- 8¾ :::: - .... .. 8½- 8½ 9 - \I
7
::::
° 7%:
7% .. : :
.... 6
·,i½ .. 5¼ · 5¼ .. : : S¾ .... ·,;-- ... . _ "i,i.:C •••
~~
8!14 8¼- 8½ 7 - 8
7
···· · ·7¾- 7~-i 6 - tS
---'--- --·-·_--_·_·_7_-_o--'---~U7~"---
toi -Joi"
101 -101
61<¾- 7114
69 - 70¾
"9 9¼ :::: -
9
ibs
'5" ::::
5¼ ....
5
0
0
t:
0
~= ~n
0
0
~.¼=
0
1~92.
JANUARY FEBR'RY.
SECURITIES
MARCH.
APRIL.
MAY.
j
JUNE.
JuLY.
Alabama-Cl A 4to 5 1906. 102½-102¼ 103 -103½ 103 -103¼ 101¾-102¼ 102½-108
Class R, 5s;1906 ... '.. . . .. xl05½- 5½ 111,1 -107 .... - ........ - . . .. 107 -107
Class c... . . .. . . . . . . . . . . .. . . . . . . . - . . . . 94 - 94¾ lits - 96 . . . . - . . . . . . . . - . . . .
,s::~:~;~J:If,diJ°o~tirJ~~?: ~-~~¾_:-~~~ ::::
1!7 - 97
1,7 - 97
7s. L. R. & Ft. s. issue .... ..... - .. .. . .. .
.. . . ... .,L_ ... . . .. .
7s,L. R. P. B. & N. 0 ......... 8 72
t-½ .... 7s, Mis~. o. & Red R. .•.. '. . . . ..
7s, Memphis & L. R........ .. ..
~::~~{::t1fe~·R:.:::::::: ::::
Dist.ofCol.-Cp.,3-65s,1024113 =:1i¼ ii'i½-lil½ ::::
Louisiana-Consol.,4~ ....... 85 - 86½ 85 - 85
Missouri funding bonds ........ No. Carolina-Chatham RR... . .
West. No.< ar. RR. 6s ......... -
;;!i~;.1l:fit~r;~<~ j¼; ~~~ -~;½=
- ::: : :::· - ··:·
85½- 85½ 8J¾- 88
i
P*½~
103
107
. .. .
97
-105
-107¾
- . .. .
- 97'¼
... - ....
104 -105½
.... - ....
95¾- ~~~
sl.~~~~fn:.:\?;J-~~ci:, 6s :::: - ....
T:;i:s~e~~~\.;
~~ti•in•t·6s 18!¾~1~¾
Small...... .. .. . ........ , .. .. - .. ..
1
New Settlement, 5s, 1913 .. ] 09½- 99½
New Settlement. 8s. 1918 . !:18 - ts9½
2¼- 2¼
6
1~t~=18 ¼
- .. ..
101 -101
68¼- 71!¾
vfr{ii~!~-i~~i-~fi}~j~ -~:~: ~:~ :~~
.. 2¼-
2¼
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. .. . 101 -101½
69¼- 70¼
101 -102
lO!'i ½-11 ·5½
97 - 97
-~~- :: ~~-9 - 11
5½- 10½
6 - 10
10 - 10
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.... - .... 93 - 93
91¾- 93
91¾- 92
. .. . ....
... .
.... - ... ·
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101½-108¼
106¼-106½
. . . . - .. ..
:::: _
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17 - 17
16 - 19
-
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. . - .. . .. - . .. . .. .. - .. .. .. .. - .... 103 •101!
101 -101 101 -102½ 103½-104½ .... - .. .. .. ..
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.... 4 - 4 .... 3½- 4¼ 4½-
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.... 94 - 94¾ 98 - 98
.... lOri -105
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Trust receipts ............ , ~- 9
9~- 9¼ 8½- 8¼ .... - ....... Trust receipts, stamµed .. ' b¾- 8¾ .... 7½- 7¾ 7 - 7
7%-
LOO -100 101 -102 103 -103
105¼-105½ 105¼-105½ 105;14-106¼
. .. . - .. .. . .• - .. . . . . .. - . .. .
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15 - 15
9¾- 1 ¾ 14½- 20
16 - 17
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-114 .... - ........ - .. 112!,s-112¼ . ... - .... ....
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Sroa.11 bonds.............. . .. . - .. .. 1<7 - ~7 . . ..
.. ..
..
97 - 97 .. ..
.. .. .. ..
.. ..
6s, rnrn ............ ......... 123 -123 123 -125½ 125 -125
- .... 122 -125½ .... - .... 124½-124½
New 6s .......................... - .. ..
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
AuGusT. lsEPT'BER. OCToBEn. Nov'BER. DEo'BER.
~w.Higb Low.High L~w.High Low.High Low.HighlLow.High ~ow.High Low.High l Low.Jligh Low.High L o w . H i g h ~
.. .. .. ..
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RAILROADS AND THEIR SECURITIES.
PRICES
OF
STOCKS
AND
BONDS,
1888-1892.
Railroad construction in the United States in the year 1892 was less than in any year since 1885, as the
total of new road constructed. was estimated at about 4,100 miles, against 4,471 miles in 1891 and 5,738 miles in
1890.
The Railway Age, in commenting upon the new construction of 1892, gives the following mileage of road
laid in each state, omitting fractions of a mile. Maine, 14 miles ; New Hampshire, 28 ; Massachusetts, 22 ;
New York, 236; New Jersey, 15; Pennsylvania, 257; Marylancl, 20; West Virginia, 204; Virginia, 23;
N. Carolina, 56; S. Carolina, 33 ; Georgia, 68; Florida, 146 ; Alabama, 20 ; Mississippi, 8; Louisiana, 121 ; Tennessee, 65; Kentucky, 35 ; Ohio, 197; Mic1ligan, 221 ; Indiana, 157 ; Illinois, 69; Wisconsin, 122; Minnesota,
200 ; North Dakota, 92 ; South Dakota, 13 ; Iowa, 68 ; Nebraska, 51 ; Kansas, 1 ; Missouri, 197 ; Indian
Territory, 114; Arkansas, 44; Texas, 211; Colorado, 35 ; Wyoming, 105 ; Montana, 127; California, 84;
New Mexico, 6; Idaho, 83 ; Utah, 33 ; Arizona, 27 ; Oregon, 9 ; Washington, 421.
The country has witnessed since the war three great periods of railroad extension, eulminating respectively
in 1871, in 1882 and in 1887. In the first period the new construction was 4,615 miles in 1869, 6,070 miles in
1870 and 7,379 miles in 1871 ; in the second period it was 6,876 miles in 1880, 9,796 miles in 1881 and 11,568
miles in 1882; in the third period it was 3,608 miles in 1885, 9,000 miles in 1886 and 12,983 mile~ in 1887,
since which date the construction has been 7,066 miles in 1888, 5,706 miles in 1889, 5, 738 -miles in 1890, 4,471
miles in 1891, and 4,100 miles (estimated) in J S92.
The following tables, made up from figures given in Poor's Railroad Manual, show the progress of construe•
tion in each year from 1831 to 1892 inclusive, and financial statistics since 1871. It will be observed that from
year to year corrections are made in the figures showing total mileage in the country up to the end of each year,
this being rendered necessary, as the Manual says, to make an adjustment for mileage which was only lumbering
or mining track, and also for mileage abandoned, but the annual increase in mileage in former years we have
not changed, as the figures given for construction after the close of each year represented best the actual
increase of such year.
RAILROAD CONSTRUCTION YEARLY AND TOTAL MILEAGE IN OPERATION.
I
Years.
Miles in
Annual
Increase of Operation
Mileage. End of Yr.
1831. .....
1832 ......
1833 ..... .
1834 ......
1835 ......
ll-36 ......
1837 ......
1838 .....
1839 ... . ..
1840 ... . . .
1841. .... .
1842 ......
1!;43 ......
11"44 ..... .
1845 ......
1846 ......
72
134
15 1.
25 3
465
175
224
416
389
516
717
491
159
192
256
297
95
229
380
633
1,098
1,273
1 ,497
1,913
2,302
2,818
3,535
4,026
4 ,1!<5
4,377
4,ti33
4,930
Years.
l~47 ..... .
1848 .. . ...
1849 ......
1850 ......
1 1" 51. .. ..
1852 ......
1853 ......
1854 . .....
1855 ......
1 8!'i6 . ... ..
1 857 . .....
18 58 ....
1859 ......
1860 .. ... .
1861. . .. ..
1862 . .... .
Annual
Miles in
Increase of Operation
Mileage. End of Yr.
668
398
1,369
1,656
1,961
1,926
2,452
1,360
1,654
3,642
2,487
2,465
1,821
1,846
651
834
5,598
5,996
7,365
9,021
10,982
12,908
15,360
16,720
18,374
22,016
24,503
26,968
28,789
30,82ti
31,286
32,120
Years.
Miles in
Annual
Increase of Operation
Mileage. End of Yr.
1863 ·--·-·
18 64 ..... .
1865 ..... .
1866 .... ..
1867 ......
1 68 ......
1869 ......
1870 ......
1871. .....
1e12 ......
1873 ......
1874 ....•
1875 ......
1876 ....•.
1877 ......
1878 . .....
1,050
738
1,177
1,716
2,449
2,979
4,615
6,070
7,379
5,878
4,097
2,117
1,711
2,712
2,280
2,629
Annual
Miles in
Increase of Operation
Mileage. End of Yr.
Years.
--33,170
1879 ......
1880 ......
1881. .....
1882 . . ..
1883 ......
1884 ......
1885 ......
1886 ......
1887 ......
1888 ..... .
1889 ......
1890 ......
1891.. · ·•·
1892 (est.)
38,908
35,085
36,801
39,250
42,229
46,844
52,914
60,283
66,171
70,268
72,385
74,096
76,808
79,088
81,767
4,746
6,876
9,796
11,568
6,741
3,825
3,608
9,000
12,983
7,066
5,706
5,738
4,471
4,100
86,584.
93,296
103,143
114,712
121,-155
125,379
128,361
136,37g
149,257
156,169
161,353
166,702
170,601
RAILROAD STATISTICS FOR THE UNITED STATES.
Years.
Length
of Lint1
Owned.
Canital·
Stock.
Funded
Debt.
Other
Debt.
Length
of Line
Operated
Gross
Traffic
Earnings.
Net
Traffic
Earnings.
rnierest
:Pa.id.
Dividend.a
Paid.
- • - - - - - -----1- - - - - -1- - - - - - - - - - - -- --l•-----1-----11- - - - -1•----$
Miles.
$
$
$
Miles.
57,323 465,241,055
57,323 1,647,844,113 *1,511,57R,944 . .•.•. ....... ...
1872.. .... . . . . . . .. .
66,237 526,4l!l,935
70,651 1,947,638,584 *1.836,904,450 . ...............
1R73........ .......
69,273 520,466,016 ,
72,623 1,990,997,486 *2,230,766,108 .. -· . . ..........
1874 ........ - .. ....
71,759 503,065,505
.. .......... .. --···-··..
74,096 t4,65~,208,630
1875. ··•·· .........
73,508. 497,257,959
55,092,192
76,305 2,248,358,375 2,165,141,368
18i6...............
74,112 4-72,909,272
79,208 2,313,278,598 2,255,318,6~0 237,604,774
1877........ . ....
78,960 490,103,351
80, i:<32 2,29:l,257,877 2,297,790,916 182,248,556
1878........ .....
":9,009 525,620,577
84,393 2,395,647,293 2,319,489,172 156,881,052
1879....... ......
82,146 613,733,610
162,489,939
74,94::!
2,530,8
2,708,G73,375
92,147
.. . ...
1880. .....
92,971 701,780,91" 2
1881..... ........ 103,530 3,177,375,179 2,878,423,606 222,766,267
1882. .. . .. - - · ·-- · 114,461 3,511,035,824 3,235,543,323 270,170,962 10-1;971 770,209, 99
1883... . ....... . l~0,552 3,708,060,583 3,500,879,914 268,925,285 110,414 823,772,924
1884.. .......... . ~25,152 ::!,762,616,6~6 3,ti69,115,772 244,660,596 115,704 773,396,317
127,729 3,817,£97,832 3,765,727,066 25l:l,108,28l 123,320 772,f\68,833
1885.
1886 ....... ·····--· 133,606 3,999,508,508 3,882,966,380 280,673,814 125,185 829,940,836
1887............... 147,999 4,191,562,029 4,186,943,116 294,682,071 137,028 940,150,702
1888............... 154,276·1 · 4,431:1,411,342 4,624,035,028 306,952,589 145,387 960,256,270
159,994 4,495,09!},318 4,828,365,'i71 357,477,ltiO 153,94.5 1,002,926,059
1889..............
1890......... ...... 163,4201 4,640,239,578 5,105,902,025 376,494,297 158,037 1,097,1-147,428
167,909 4,809,176,651 5,235.295,074 345,362,503 164,3241,138,0~4,459
1891. .•.... ---··-NOTE.-* includes funded and other debt, and t includes total capital and debt accounts. Owing to
$
$
hand the statistics ot " other debt" and "interest .I>a.id" cannot be furnished tor the first tour years covered by above sq,tement.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
$
165,754-,373 ............ .... 64,418,15
183,810,562 .••. ..•.•.••.•.. 67,120,707
9
189,570,958 ......... ···---· 67,042,942
185,506,438 ................ 74,294,208
93,559,57::! 68,039,668
186,452,752
98,820,927 58,556,312
170,976,697
187,575,167 103,160,512 53,629,368
216,544,999 112,237,515 61,681,470
255,557,555 107,866,328 77,115,37 l
272,406,787 128,587,302 93,344,190
2 ,0,316,696 154,295,380 102,031,43
298,3n7,285 173,139,064 102,052,54 4
270,890,955 17R,058,382 94,414,83 8
269,-19:i,931 187,426,035 77,672,10~
300,603,664 189,036,304 81,654,138
334,989,119 203,790,352 91,573,45
301,631,051 207,124,~88 80,243,048
322,122,721 218,974,:ll4 81,262,521
346,921,318 226,799,682 85,075,703
356,209,880 231,259,810 90,719,75~
the incompleteness of the information a't
B.AILRO.AD
RAILROAD GROSS EARNINGS FOR 1892.
In reviewing the earnings of United States railroads, the COMMERCIAL & FIN .ANCIA.L CHRONICLE, in
its issue of January 14th, points out that whatever
may be said of the net results of railroad operations in 1892, in gross earnings the year was
distingui~hed for a further substantial addition
to the totals. The conditions affecting rates were
not as satisfactory as could be wished either on
the great east-and-west trunk lines or on the
roads in the West or other sections of the country,
and a number of important trnffic associations-the
Western Traffic Association, the Trans-Missouri Association, the 8outhwestern Railway & Steamship Association and the Trans-Continental Associationwent out of existence, though there was at no time
any active or general war of rates. On the other hand
the conditions affecti.t1g the volume of traffic were
decidedly favorable. The great crops of 1891 afforded
a grain movement in 1892 large beyond precedent ; at
the same time these crops and also the building operations connected with the World's Fair stimulated general business, giving a large volume· of merchandise
freight to the railroads. Two important sections of
the country did not participate in the improvement,
namely the Pacific Coast and the South, more
particularly the latter, where the low price of
cotton and the low price of iron, together
with some other unfavorable features, caused considerable business depression, while concurrently
there was a falling off m the movement of cotton,
especially in the closing months of the year, because
of the much smaller crop produced in 1892. As a consequence Southern roads did poorly, though there are
some important exceptions to the rule.
GROSS EARNINGS FROM .J.ANUARY 1 TO DECEMBER 31.
Name of Road.
1:892.
1891.
Increase . Decreas, .
----------·- - - - -------- ---------11----- - - $
$
$
$
A.Tch. Top. & s. Fe Sys._ 37,533,016 35,20~,237 2,324.,779
tit. L. & 8. Fran. Sys __
9,069,960
Colorado i\Iidland _____ 2,170,854
Balt. & Ohio Southwest.
2,641,094
Birmingham & Atlantic.
41,221
Brooklyn Eleva,red __ ·-1,901,671
Bu.tr. Roch. & Pittstmrl.(',
3,207,009
Burl. Ced. Rap. & No___
4,354,790
Oanadian Pacific. ___ .___ 21,395,223
Carolina Midland .____ __
63,443
Charleston Cin. & Chic..
148,339
Char. Sumter & North'n
149,501
Chesapeake & Ohio . ___ .
9,582,104
*Chesap.Ohio &Southw.
2,19ti,60-1
Chicago & East. 111 __ ___
4, 192,555
Chio. Milw. & St. Paul. _ 33,S49,til2
Chic. Peo . & St_ Louis__
1,315,704
Chic_ Rock Isl. & Pac.__ l~,5<.i0,806
Chic. St. P. & Kan. City _ n ,090,771
Chic. & West Michigan _ 2,033,752
Cin. Georget'n & Ports _
70,469
Cin ..Jackson & M'ack.-713.008
4,216,700
Cin. N.O. & Texas Pac..
A.la. Great Southern ._
1,796,848
N . 0. &Northeastern._
1,326,909
A.labama&Vicksburg_
619,3 84
Vicksb. Shrev. & Pac. .
570,882
Cin. Northwestern._ ____
20 707
Cinn. Ports. & Virginia _
260'.68~
Columbus & Maysville
14,264
Cleve. Akron & Col..___
1,003,055 !
Clev. Cin. Chic. & St. L __ 14 ,463,279 r
Peoria & Eastern.___ __
1,762,871
Clev. & Mal'ietta ___ ____
337,638
Col. Huck. Val. & Toledo
3,370,002
t'ol. Shawnee & Hock _
75'2,074
Colusa & Lake. ____ _.____
29,718
Current River. _._. _____ .
198,624
Denv. & Rio Grande.___
9.197,210
L>es Moines Nor. & West
410,765
• et.Bay City & Alpena _
250,391
net. Lansing & North'n.
1,264,861
Dul. So. Shore & ,Hl.. _ 2,245 716
l<~Jgjn Joliet & East____ _
8fl3'.368
~vansv. & Indiana.polls .
374,941
b:vansv. & Tene Haute .
1,279,239
Flint &Pere Marquette.
2,880,557
Florida Cent. & Penin __ 1,660,466
l<'ort Worth & Rio Qr___
386,9.W
Ga. Southern & J<,la,_ ___
774,752 ,
Gr. Rapids & Indiana,___
2,491,591
Cin.Rich.& Ft.Wayne_
498,717
Other lines __ __ ._. __ .__
240,638
tGr. Trunk of Canada__ 19,913,462
tchic. & Gr. Trunk:.__ _ 3,736,818
_t_D_e_t_._G_r_._H_._&_Mil_·_w_-_._-_1....:1_2_1_0,:...2_6_4 •
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
8,697,874
372,086
2,052,188
118,666
2,500,594
14.0,500
50,169
128,714.
1,772,957
2,809,362
397,647
3,886,340
468,450
20,241,096 1,154,127
64,291
162,a63
137, f64
11,837
9,333.96!)
2-18,135
2,277,836
3,63-t,162
558,3!l3
2!-l,860,d39 3,488,773
1,169,'U"l
146,488
16,~42,465 1,658,'{4.I
4,785,47f:
305,295
1,757,552
276,"LOO
6 8.7-!0
1,7~9
72F<,981
4,338,202
1,932,924
1,233,803
93,lUti
686,824
658,587
21,f\51
2-17,352
1a,:-r n6
12,54.6
1,718
9-t0,553
62,f>M
4.70,597
1.3,992,682
1,720,627
4.2,244
347,863
.3,293,925
76,077
1322.244
129,R30
27;952
1 ,766
162,337
36,287
'8,41::14,408
712,80.!
840,494
70,271
317,644.
1,254,101
10,760
·2 rno 11"'
85,598
'728'.682
124,686
20,623
8 54,318
1.,212,788
66,451
2,900,623
·1.,497,306
163,ltiO
330,238
56,688
760,0iO
14,682
:2,400,414
91,177
46,64.9
452,068
224,204
16,484
1.9,383,258
530,204
19,756
3,717,062
26,662
J..183,602
----~48
14,024
EARNINGS.
of Road.
1892.
189-1.
I Inereaae. 1---Decrease,
__Name
________
, ------11----Great Nor. St.. P. M.& M.
Ea.steru of M. ________ _
Mont:ma, Cent,ral. ____ _
Gulf &Chicago _________ _
Humeston & Shensnd'h
l:Iutch. & Southern _. __ _
ludianap. Dec. & West __
lnt. & Great Northern._
lowa Central. __ . ____ ._._
Cron Railway _____ __ ____ _
Kanawha & Michigan _.
Kan. City Clin. & Spr _..
Kansas C. Ft. S.& Mero._
Kan . City Mem. & Bir . .
Keokuk & Western . ___ .
L. Erie Alliance & So. _.
Lake Erie & Western._.
Lake Shore & l\fich. So .
Lel.Jigh & Hutlson River
Lon g Cslaud . . __ __ ______ _
Louisv. Evansv. & St. L.
Louisville & Nashville._
Louisv. N. Alh. & Chic._
Louisville St. L. & Texas
Manistique ____ -· ._ --·. __
Memphis & Charleston . .
Mex:ican Central. ______ _
Mexican Nationa1. _____ .
Mexican Railway ____ __ _
Mich. Cent.. & Can. So __
Milwaukee & Northern .
Mineral Ran~e . ___ . ____ _
Minneapolis & St. Louis
Minn. St. P. & 8. Ste. M_
l\I1:,souri K. & Tex, svs . .
Mo. Pacific & Iron Mt __
Mohil e & Ohlo __ _______ __
Nashv.1:hat.&St. Louis _
N . Orleans & Southern.
N. Y. Cent. & Hud. Riv._
New York & Northern_.
N. Y. Ontario & West'n __
Norfolk: & Southern . . ___
Norfolk & Western _____ .
Northern Pacific. ___ . __ ·1
Wiscon. Central Lines.
Ohi & Mississippi.. ___ _
Ohio River _____________ _
Ob10 Southern ___ ••• __ •.
Peoria Dec. & Evansv __
Pittsb. Marion & Chic __
Pittsb. Shen. & L- Erie.
P1ttsbm:g & Western . __
Quincy Omaha & K. c __
Rio Grande Southern __ _
Rio Grande Western ___ _
~ag. Tuscola & Huron._
St. .Jos. & GraLd Islan<I _
St. L. Alt.& T.H.Br'chs_
St. L. Kennett & South._
St. Louis Southwestern_
St. Paul & Duluth_ ·- ---Santlersv. & Tennille.. . _
Sao Fran. & No. Pacific _
$il verton . ___ . . _____ . __ _
Sioux City & Northern.
South Carolina __ . ______ _
Teunessee Mi<lland ____ _
Texas & Pacific_. ___ . __.
Tex. Sabine Val. & N. W _
Toi.Ann A.rbor &N.l\1icb
Toledo & Ohio Central a
Toledo Peoria & West'n _
Toi. St. L. & Kan. City __
Wabash _________ ___ ·--- -West N. Y. & P:L . ______ Wheeling & Lake Erie _.
Wrightsville & Tennille_
$
$
13,670,698
l,Rla.474
1,191,903
:-rn,883
148,300
93,072
495,383
4,152,761
1,928,252
37,513
360,847
327,475
5,044,333
1, 139,12-1
406,364
83,771
3,557,063
2:l,4"10,000
476,817
4,263,951
1,552,275
21,~20,R45
3,2iS8,718
643,808
85,778
1,462,264
7,915,889
4,680,814
2.994.,'187
1 5,800,000
1,710,607
131,940
2,023,804
3,294,!'>15
9,838,075
27,687,171
3.328,930
5.156,572
148,150
45,5H0,888
574.422
3,4.60,658
430,000
9,879,287
2-!,728,375
5,8 19,nl9
4,174,028
792,707
668,457
875,8 '.!8
40,434
394,131
2,395,117
272,997
699,066
2,578,461
124,122
1,260,::131
1,514,554
35,386
4,613.4F>6
2,130,083
7,054
869,133
106,457
492,692
1,338,486
199,222
6,966,790
51,348
1,221,813
2.000,057
994,526
2,186,120
14.158,103
3,533,651
1,439,171
69,489
11,711,788
I ,179, 129
l,2~2.756
44,400
171,12~
73,708
495,59:{
4,09~.634
l,803,89ti
34,58~
326,325
309,5 l2
4,8l2,776
1,209,099
414,276
7:'l,094
3,273,355
21,431,386
406,010
4,108,026
1,50Q,540
20,2-17,526
2,840,f\21
530,268
12I,04f>
l,6::H,769
7,374,538
4,206,423
3,~74,531
15,162,960
1,746,030
143,728
1,822,816
2,586,821
9,731,120
25,918,106
3,506,233
4,739,442
-173,403
44,264,061
509,660
3,056,787
390,430
9,188,012
24,955,4.64
f>,228,222
4,217,'.!88
706,966
f\90,241
860,509
44,til6
336,706
2,285,356
262,626
307,167
2,592,512
106,783
983,6ti2
1,435,626
25,857
.4,5t:>5,797
1,829,761
8, 718
874,382
121,281
447,326
1,652,334
210,143
7,226,462
48,185
1,065,190
l ,R42,205
982,62fl
1,979,674
13,9:H, 182
3,ti43,3Hl
1,294,372
84,998
$
1,958,910
134,345
-90:851
7,517
22,828
-i9:iJ64.
-54j27
210
124,356
2,924
34,!'l22
17,963
231,557
--s:ii-i1
283,70R
1,018,614
70,777
155,925
42,735
1,573,319
44~.097
113,540
5.ii:s-5i
474.421
637:040
sso:2¥4
-a5:i-is
11,788
200:95s
707.694
106,!::155
1,769,065
4i1:iao
1,i2iJ:s21
64,762
403,871
39,570
691,245
59i:297
-si>:1¥i
25.~5J
______
_
-------·
---- · -·-------
226:489
-------48,2ti0
78,216
15,319
57,425
109,76L
10,361
391,899
14,05 l
"i1::fa-9
276:669
83,928
9,529
47,659
300,322
--i:664
5,24.9
14,821
4.5,36ti
s-i3:s¥s
10,921
259,67::!
3.163
156,628
157,~n2
11,901
206,44.G
206.921
144,79U
io~:titis
-i5:509
Total (134 roads). ___ 563,570,346 535,288,736 31,467,16 · 3,185,5~1
Net increase ______ . _______ __ _______ .. __ . . _____ _. ___ . 28,281,610
___ ••••
* Only three weeks or December in each year.
t Fifty-two weeks.
a Toi. Col. & Cin. ioclulled in hoth year:1 fL•om Jan. 1.
ROADS RRPORTrnG FOR 11 MONrHS.
81,232
I- - - - -1------ - - - - - - - - - -1
Jan . 1 i'> Nov. 30.
Allegheny Valley_ . ____ _
Baltimore & Ohio t2l . _.
liirm. Sheff' & T . River.
15,973 Uamden & Atlantic __ __ _
121.502 Central New Jersey __ _
Chic. Burl. & North'o _.
136,071:> Chic.
Burl. & Quincy __ _
-67-,440 Chicago & Erie. ___ . __.. 1
87,705 Chicago & Northwest'n
8-14 Chic. St. P. Minn. & 0 .. 1
Connecticut River.. __ ._
l<'itchburg. __ · - ___ _____ _
Georgia . ______ . __ . _____ _
Hoosac Tun. & Wil . . __ .
Illinois Central __ . __ . _
10,225 Kan. C. Wy. & Northw
N. Y. Lake Erie & West.
N. Y. Susq. & Western . ,
Northern Central. _____ _
Omaha & St. Loui8 . .. _· I
Peim. tiast of P. & r,; _..
West of Pitts. & Erie. I
Petersbm·g. ___ _______ __ . i
Plliladel'a & Reading ._
Rich. & Petersburg . _- - I
So. Pacific Co. (6 rcts.) ..
St.a ten l sland &ap. Tr .. 1
:5tony C. & C. Mt. _______ !
Summit Branch .. __ ____ _
20,066
Lykens Valley _______ _
Toi. & So. Haven __ ____ _
Vermont Valley _______ _
West .Jersey ______ __ ....
W. Va. Cent. & PittBb'g.
1892.
1b91.
Increase.
Decrease.
$
$
$
$
2,411, ➔ 84
23,857,863
223,094.
767,841
13,018,564
2,007,081
36,868,126
2.54-4,84.0
30,109,306
8,360,823
1,105,300
6,900,rn1
1,357,205
84, 29 1
17,506,795
311,1.l:37
28,403,788
1,595,36:l
6,554,673
523,b84
62,90n,9iO
42.549 .968
493,374
21,104,724
325,688
44,81::16,252
990;979
57,282
1,209,446
985,574
24,120
18ti,02t!
l.621,1H6
1,00::f,312
'l,3 45,237
22,7112,838
192,680
7til, 170
13,046,359
1,998,783
31,827,897
l .443,318
26,728,255
7,232,949
1,023,488
6,476,28a
1 ,649,061
22,577
16,906, 1Hl
275,046
28,044,071
1,521,493
6,206,971
45 1 ,262
61,630,010
*39,600,000
478,350
20,lti7,690
303,101
46,315.535
971,703
52,883
1,176,832
859,429
25,076
173,865
1 ,5 19,187
1,016,238
66,647
1,155,025
30,414
6,671
27,7'
8,:!98
5,040,229
101,522
3,3f.!l,051
1,127,874
81,812
423,908
11,71-1
----··-·
1_~~:~-~~
----956
600,676
·-----··
36.791
-------'359,717
---·--- -------·
7:1,869
34.7,70:l
----- - ..
6!:1,422
-·- ···· ·
1.276,910
·---· · -2,949,968
-- - -·-··
lfi,024
----· -· .
937,034
-------·
22,587
·-----·- __ .. _-· 1,429,283
19,276
--- ·---·
4,399
-------·
32,614
-------12,163
71,999
-------1------1----- - - - - -
Total (tO roads)----·· 362,807,4.01 346, l78,756 18,391,4611,762,816
Netincrease __________ ------· ----- ---------·-- 16,628,645
_______ _
* This
covers eleven twelfths of the total _earnmgs for 1891.
I RAILROAD EARNINIJS---llAILR0.4.D JJONJJS.
The statement deals ·with totals of large magnitude.
For the full year the returns cover 134 roads. In addition, 40 roads it will be seen have reported for the
eleven months ending November 30. Combined the
two sets of roads earned $~26,377, 747 gross in 1892,
against $881,467,492 in 1891, as follo,vs.
l\1iles of Road
Gross Earnings.
1892.
End of Per wa.
Increase.
1891.
189.?. _]
1891.
134 roads full year .. .. . 568,570,846
40 roads 11 montbs .. . 362,807,401
94,0611 93,319
585,288,786 2s,2!1,610
37,373'
37,183
346,liS,756 16.628,0-!5
1 - - - - - 1 - -- - - + - - - - - - _ Grand tot. (17'4 r 'ds). 926,377,71.7 _ 881,46_..?,492_ -l4,910,255 _132,384 130,502
The increase in 1892 is additional to and comes after
heavy gains in the previous years, as shown herewith.
1/Jarninos.
:Jileaae.
Year
Given.
Jan. l ta Dec. 81.
1886 ( 93 roads) .. ....
1887 (110 roads) ......
1888 (103 roads). ... ..
1889 (136 roads) . ... . .
1890 (200 roads).• ....
1891 (201 r oads)" .....
1892 (17! roads)• ....
Miles.
61,U89
66,202
70,884
86,278
140,460
H0,714
132,38!
Year
Given.
Year
Precediin\1.
Y1ar
Precedino
--- --- --Miles.
59,267
82,66?
68,084
84,694
137,645
187,359
130,502
•
'
344,362,956 314,288,!l-!4
360,259,567 316,0l6,237
386,ll26,292 374,569,365
456,55'!,351 419,799,570
922,738,282 852,257,t!Sl
940,456,097 896,608,0J 1
926,877,747 881,467,t92
Tncrwst
or Decrease.
----
'
Tnc .30,064,!'12
Inc .H,213,330
Inc .12,056,Ut7
Inc .85.75<l,781
Inc .'i0,480,60 l
Inc .43,053,086
Inc . 4-l,910,255
• Comparisons for 1890 include 47 roads wbich have reported for eleven
months only in both years, for 181n in tbe same way include 53 roans and for
1892 40 roads.
In the first half of the year the heavy grain movement from the crops of 1891 proved a great advantage,
and led to decided gains in earnings; in the last six
months comparison was with very favorable earnings in
the year preceding, and, besides, the grain movement
at times did not equal that of 1891, so that only one
month showed as much as 3 per cent gain.
---
-
-··
~
Earnino,.
:IWnioe.
Increase. P.O.
1891.
1891.
1892.
I-189ll.
- - ----- - - - - - - - - - - --
Ptn'wfl.
January {Vl9 roads).
February {140 roads)
March (150 roads) ...
April {150 roads) .....
May (H3 roads) .. .. ..
June (138 roads) . . ..
July {146 roads) ......
August (132 roads) ..
Sept'ber (189 roads).
October (132 roads).
Novemh 0 r (133 r'ds).
December (136 r'ds) .
.JI/ llr.b.
.J.\11fob.
96,386
94,397
99,2(}4
99,914
1'6,429
98,996
98,022
90,979
92,610
91,795
92,388
94,10~
94,313
92,106
96,59!l
97,168
03,SH
91,405
96,408
89,40i
91,lM
90,278
90,858
92,326
$
89,718,075
39,068,578
44,5"5,382
42,102,875
:!9,067,824
42,739,485
45,510,39-1
45,702,853
50.271.961
51,685,330
47,225,425
!7,113,69~
$
$
38,724,279 993,796 2·57
34,442,110 4,626,468 13•43
41,040,576 3,504,800 s•54
40,608,228 l,494,H7 3·68
38,:!42,992\ 824,882 2·16
39,783,121 2,956,864 7•43
44,470,048 1,040,346 2•34
42,606,70~ 3,096,149 7·27
48,854.206 1,417,758 2·90
50,7!17,665 987,665 1·s5
45,981,4.06 l, '?H,019 2·71
46,019,4H 1.094,280, 2·38
On the great east-and-west trunk lines, on the roads
in the Middle Western States, and in the Northwest
and the Southwest, the large grain movement was a
favoring influence of paramount importance. At the
seaboard the receipts of wheat, corn, oats, barley and
rye amounted to over 277 million bushels, as against
223 million bushels in 1891, or an increase of 54 million
bushels. This increase represents over a million tons
of freight, and is the more remarkable in view of the
heavy increase m the years immediately preceding.
It is worth noting tbat more than the whole of the
n1crease in these seaboard receipts was made in the
first six months, there having been a falling off in the
last six months. At the Western primary markets
there was an increase in the last six months as
well as in the first six months. We find that alto
gether the receipts of grain at these Wes tern markets
in 189~ reached the enormous total of 530 million
bushels, as against 456 million bushels in 1891, an in•
crease of 74 million bushels; anu this without counting
flour, where there was an increase of 4 million barrels.
PRICES OF RAILROAD BO DS.
The following compilation of monthly highest and lowest prices of railroad bonds is made up from sales at
the New York Stock Exchange. The order of classification on the Stock Exchange Quotation List is followed
to a great extent, and in a few cases this arrangement brings some leading bonds undPr the old and popular
name by which the railroad has been known, as for instance the New York Lake Erie & Western securities under
the title of Erie. Wherever there was but a single sale in a month, the price so made is given as both the
highest and the lowest. All the prices in tbe tables following are compiled from actual sales at the Board.
~
1888.
JANUARY FEBR'RY.
BONDS.
MARCH.
APRlL,
MAY.
JUNE.
JULY.
AUOCJST. 8EPT'BER. OCTOBER. NOV'DEH . DEC'RER.
Low. Rlgb Low. Blgb Low. Hlgb Low. Hll!'b Low. Hlirb Low. High Low. High Low. IIlgb Low. Iligb L ow. High L()w. High L('W.Hillb
----
- - - - - - - ---·- - - - - - -.- - - - - - - - - - - - - - - - - - - - · - - - - - - · - - - Am. Wat,W, Co., 1111,6103¾- 103¾ .. .. - ....... .. - ....... - .... 103½-1C3½ 103¼-103¼ .... - ... .... . - .... 104½- 104½ .... - ........ - ... .
Atlantic & Pac.-l8t ... 4 80 - 82
80¾- 83
81 - 8 1¼ 80½- 83¼ 82¼- 8-l
82¾- 83¾ 81¼- 8:&
81 - 82
l¼- 83¼ 81½- 82½ 79½- 81¾ 60 - 81¼
Income ..... .. .......... 6 26 - 27½ 26 - 27¼ 21 - 25¼ Ill - 25
19 ~- 24½ 19 - 20~ 20 - 22
21¾'- 25¾ 23x,- 25¼ 21½- 24¾ 19½- 22½ 19¾- 22¾
At. T. & S. F.- Col. n.5 .... - ....... - ...... . . - .. . 96¾- 96¾ ... . - . . . 86½- 86½ .... - .. .
Chic. S. F. & Cal.tst.5 .... - .... 101 102¼\ 101 - 101¾ 102 - 10~¾ 10-2 - 102½ 101 - 101 .... - .•.•
Bait. & O.-tst, P.Br .. ti .... - .... US - 122 123 - 128 121 - 123 123 - 123 123 - 128 .... Gold, 192:i, coup ..... 5 108 -1 11 107M-I~ 105 -107¾ 106 - 107½ 107¼-108½ 108 - 109 no -no 108 - 109 108 - 108½ 106 - 107½ 107¾- 109 108¼-l~
Gold, 1925, rea- ...... 5 .. .. - .... 108 -108
- .. .. 107¼-107½ .... - . ... . .. - •.. . 105 -105 105 - 105 105 - .105 ...• - .... 105 -105
Con. irold, 1988 ....... 5 .... - .... 108¼ 108½ . •.. Beech Creek.- 1st, l{ .. 4 .... - .... 83¼- 86 .... - . ... . .. - .... 85711- E5;fi 84 - 8-1
- .... 85 - 85 .... Bost. H.T. &Wes,deb.6 98 - 99 100 -1~
98 - 98
ll7 - 99
99 - ll9
99¼- 99¾ 99!,\i-100 .... - . .. . 97½- 98
97½- 98¾ .... - .... 98 - 98¾
B'klynEl.-lst,1924 .. 6 105 -106¾ 105 - 100 105 -1~ 100 - 100½ 106 - 107 107¾-107¾ 108 - 1C9¼ 109 - 110 108½- HO 105 -108 106¼-108 108 -108M
2d mort., 1915 .. .. 3-5 81 - 81¾ 81¼- 8 1½ .... 80¾- !:6 86¼- 86¼ ... - .•••.•. . Bur. c. R • & N O,-l8l .. 6 105 -106¾ 9S -106 ~ -101
99 -103 102!,,{-103
e5½-101
95 - 96½ 95¾- 96½ 9-1 - 96)4 91 - 9-1½. 91 - 95½ 91½- 93
Cone. 1st & col. tr ... 5 .... - ... . ~ - 94 95 - 95 87 - ~ . . . .
. .. 82 - 82
88 - 88
b5 - 85
C.Rap.I.F.&N.·-ht,6 t0~-10~ 105 -106
.,_·· ·· . ...
1st mort., 19!l1 . ... 5 97,(- 97¾ ••.• ..
Cahaba Coal & M.tst,'7 .... - ........ - ... . 110 -110 .... •
Centrallowa-lst .... .. '7 79 - 83 .. . - . ... 75 - ~ . ... - ..• . 72 - 75~ 75 - 77~ 78¾- 82 80½- 82 80 - 81
80 - 84¾ 81 - 82¾ 82 - 83
Consol., 1924 ........ . 6 60 - 50
,1 - 47 . .. - ........ - ........ - ... ·. 45 - 45¾ .. .. Cent. RR. & B., Ga . . ~ 99¾-101½ 10(%-1013' 100 -101 100¾-101¾ 98¾-100¾ l OQ¾-102 102 -108¾ 103¼-103¾ 108¾- 104 102½-102½ 99 - 99 100 - 100
Cent.ofN,J.-lst,1890.'7 107¼-108½ 1~100 lot;.-106 105½-106¾ 106¼-107 107¾--107¾ 107¾-107¾ 104 -10!¾ 105¾-105½ 105 -105½ 105¾-105¾ 105½-106
Consol., 1899 ........ . '7 lll½-117¾ 116h!-117¾ 117 -117½ 116'¼-117 11';¾-119 120 -120 119½-119½ .... - ........ - . ... 121 -121 120½-121 120 -121
...,Conv., 1902 ........... '7' 115 -120 120 - lill ... . - .... 122 -128½ 12~-121½ 122 - 122 123 -123 .. .. - ... 122½-122½ 122;,i-123 120¾-120½ 121¼-122½
Conv. debenture ...... 6 ... . - .... 102 - 102 .... - .... 103¼-104 .... - .... 105¼-105¼ .. - .... 105¼-105½ .... - ...... .. - ........ - ....... - ... .
Gen. M., 1987' ........ 6 98 - 101 100%--101½ 100¾-101¾ lOQ¾-102¾ l02½-105 105¾-106¾ 108½-105¾ 1~-105¾ 105 -105~ 105¼ ·105¾ 105¾- 100¾ 106%-108%
Red11tered .. . . ..... . 6 9ni- 100¼i 100}4-101~ 100 -101¾ 1~-101'8 101 -108¼ 103¾-105 103½-105¾ 104¾-1"5 104¾-I Ofi 104¾-104¾ 10-1¼-105½ 105¾-106%
Leh.&W,B.-AHent '7 113¾-114¾ 114¾-114¾ 112¾-114 112½-113½ 113¼-114¾ 118 -lli 114¾-114¾ 115~-116 114½-116 115¼-117 116¾-117 114 -115¼
Am. Dock & Imp ...... 5 101¾-102½ 103¼-105 104¼-105½ lOf> -107 1()6¾-107½ 1~-109 107 -107!'4 107 -107 106 -107 107 -108½ 107¾-108¼ 108~-109¼
Ches. & OhioPurchase moneyf'd .. 6 1110 -110¼1105¼'.-ll~ .... - ... · [ .•. - . •.....• - .•• 113 -118 . ••. - . • . ... - . . • . 112 -113 112 - 114 114 -114
.. - •••
Seriee A ... . ...... ... .. . 6 99 -100 101¼-108 lOlJ¾-105 104 -105½ .... - ........ - ........ - ..•. 113 -118 113 -114 ... . - · ··: .... - .... 114 -114
Coupon off"............ . ... - .. . . ... - ........ - .... 10-2 -103¾: 104 -107 104 -104 .... - .... 112 -112 113 -113~ lll¼;-112~ 114¾-115 115 -115
Series B ... .... ...... . .
6"
7~ '&2¾:- 99 '63 - 64 •66 - 67 •68>4- 68¾' ..•. - •.. .. ••• - ...... .. - . •• • .. - .••.••• Reor,ian. com. cert .. .... - . . .. . . . . - . . . . 66 - &e 66 - 66 67 - 67~ 67 - 68¼ 6~- 70¼ 71¼- 72
75 - 80¾ 78 - 79 • • . • - ... • 7~- 79"}{
Exten. coup., 1986 .. 4 67¼- 76 ~ - 7~ IJS • 68¼ 62 - 63 67 - 67 66 - 66 .••• -:,, •.•. 78 .- 78 ..•• - ••• •.• •• - ........ - ........ .- ••
I
6,~7¼-
• Coupowa ciit.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1•6634-
····1 · .. - ... .
,B~tILROAD': BONDS.
1888-Contlnned.
BONDS.
-----
JAN UARY FEBR' RY.
MARCH .
APRIL .
MAY.
J UNE .
JULY.
AUGUS T . SEPT' llER. OCTOBER. N0V' BER. DEC'BER.
L ow .Hip:h L o w.Htp:h L ow .Hip:h Low.Hip:h L ow.H igh Low.High Low. High Low.High Low.High L ow. Hillh Low.High Low.High
CbeN, & Ohio .·- ·Cont' dExt. cp. , reorg. cert . .. .. - . . . .
63½ - 66
62½- 66
66½- 67~ 66¼- 69¼ 69 - 70½ 70;1:{- 73➔.( 73¼- 80
77¾- 80!,i 76¾- 79
78 - ~
Currency .... . .... . .. . . . 6 22 - 27¼ 18 - 28
17 - 20½ 16%- 17
20¾- 20¾ . . .. - ... . ... - . .. . .... - . ...... Reorgan. com. c ert ... . .. - . . .. . .. 19¼- 21
10 - 20
JO - 24
23¾- 24¾ 24 - .3~4 30¼- 34½ 28 - 821>4 28½- S~
Mort., 1911 . .. . .. . . . ... 6 90½- 97½ 97 - 101!4 100 - 101½ {19¼- 99¼ tol. -102ll<! 102¾-103¾ 104½ -106~ 108 - 11::!¼ 112 - 113 114½-114½ .... - . ... . ... Coupon off" .. ... . . . .... . .. . - ... . . .. . - . . .. 06 - 100
- . ... LOS),.(-103}4 .... - . . . 112 - 11:.! 113 - 114 lll ~- 114½ 114 - 115 113 - lU
Chee. O. & S, W . . .. . a-6 105 - 108½ 104 - 104 lOS7J-lW 10! -104 105 - i05 .. .. - .... 110 - 110½ 1()6¾-107~ 107½-107~, 105¾-106¼ 106 - 106½ ... . 2d mort., 1911. .... . .. 6 72~- 72¾ 69¾- 71 .... - ... 66 - 66
68 - 68 .. . . - ... 72½- 73¾ 70½- 72
73 - 76 •• • • - •• • •. ••• tlhtc. & Alton- 1st . . ... 7 t12 - 11-1 113 -113~ 113¼ -113½ U S¼-113½ . ... - .. . 114¾ - 115 1!2 - 112 112 - 112 11 2½-112½ 1112¾-112-U . .. . - . ... 113½-113~
Sinking fund . .. .. . .. . . . 6 124 - 125 . .. . - .. .... . - .. 125½-125½ 122¼-122)4 123¾- 123¾ . . .. - . . .. 123½-12.'3¼ 123!',!-12.S¾ 124½-124½ 123½- 128¼ , ..• - . . . .
L.&Mo.R.bt,.19001' 110¼- 119¼ . .. - .... lll:l¼- 110½ . . .. - . .. .. . . - . . .. .... - . . . 125 - 125 .... - . ... 119~- 119¾ 122 - 122 .... - ... . 123 -123
2d, 1900 ..... .. .. . .. .. 7 117½-117½ . . .. - . .. . .... - . . .. . . . . - .. . . 115½- 115~ .. . - .... ... . - . .. . .. .. - . ..... .. - .... 119¼- 119½
St.L.J. t:b.,ht, .'94 .7 115 - 115¼ 116¼ - 116¾ 116 - 116¾ 112¼-112¼ 114 - 114 ll4 ½- 115¾ .. . - .... 117 - 117 . .. - .. .. 113¼-113¼ 114¼-114~ 114¼-114¼
1st Dl, , l{Ull.t,, (1}64).'7 ... . - . . .. .. .. - .... . .. . . . - . .. tl fl¾ - 116¾ .. , . ~d M., guar. (188) .. 7 ... . - . . . . 115¼-115¾ .. . . - . .. . 116 - 116
lllis .Riv.Bd.lst,s.f.6 107 -107
- .... lW - 104 107 - 107
Chic. Sur.& Nor.- l s t .5 102¼- 103 101¾-102½ . . . . - .... 98 - 100 100 - 100
98½-100¼ 98 - 99 100 - 100
- •..• 97 - 97
Chic.B.&Q.- Cousol.. .1' 129½ -132 131 -131½ 131 - 1s2x; 132 - 133 132¼-133 138¼-134 130 -130¾ un - 132 131 - 132½ 131¾- 132 132¼- 133 138 - 138¾
Sink. fund , 1901 . .... ~ . ... - . . .. . . . - . . . .. . - ... . lOi½ -107¼ 10 ¼-108¼ .. . . - . . . . .. .. - . . . ... . . - . . . . 107!14- 108½
Debentu1•e . . . . .. ... ... . :i 104½ - 100 105 -107½ 104½- 106 104½ -106 104 - 106 105½-107 105 -106).i 106 -1067,1i lOS - 105½ 104 - 105½ lOl'J,i-103 102 - 104¾
Iowa.Div .. . . . . . . . . . . .4 96¾- 98½ 96¼- 96¼ . . . . - .... 95¼- 90¼ 97 - 98½ 06 - 97½ 96¼- 97
96¾- 96¾ 95½- 96¼ 95½ - 98
96 - 97
96!,:!- 97
Denver Div., 1922 ..t 94 - 95
91 ¼ - 92
91 - 93¼ 91 - 98
93 - PS¼ 9a - 93 ... . - ... .. . . • - . . . . 00½- 91
90¾- 90¾ 92 - 92
92¼- 92½
Nebr'skn.Ext.,1927 .4 1 91½ - 97
92½- 93,U 92½- 92¼ 92 - 94¼ 91%- 0a
02:Js- 93¼ 92¾- 93
92 - 92¼ IH - 92½ 92~- 93
9<».(- 91¼ 00¾- 92½
Chic. & E. 111.- l s t, s.J . 6 114 - 116 . ... - . . . 117 - 117½ 117 - 117 ll5 - 119 llfl¾- 118 11 ½-llfl¼ 118½-118¼ ll~-119 120 - 120 119~-120 117 - 118
tstconsol., irold .. . .. . .6 113 -117 lt6¾-117¼ 116½-116¼ 113 - 114½ 114½- 115¼ 115½-115½ 115~.(-117½ 117 - 117!M 118¼- 119 116¼-119¼ 118 - 119 117 - 120
Gen. mort., 1937 . .. . :, 94¾- 9::,
0 1 - 95
94¼- 01¼ 9:l:).(- 94½ 91½ - ll5¾ 95-'8- {17½ 97¼- 98
97¼- 98¾ 1)6¾- 99¾ 119½-101
97¼- 9~ 96¼- 97¾
Chic. Gas L. & C- lst..:} . . . . - . . . .
- . . . . . . . . - . . . . . . . . - . . . . 85, 4- 85%
Chic. & ln.C'l Ry- ht.a 97 - 98
97½-100~ 98 - 98½ 96 - 98
97 - 100½ 1-18½-100
1:17 - 99
99 - 100 100 - 100 100¼-103½ 103 -108½ 102 -102:J,.(
Chic. lUilw. & ~t. P.i;..
1st P. D., 1.898 . ..... .. 8 127¼-130 125¼-12':' 127 - 128 127 - 129 127 - 127½ t 27J.,i- 128 128¼-180
- .... . . .. - .. .. 128¼-124½ 125¼-125¼ 124-¾- 125
~d, 1898... ........ .. 7•3 122½-122½ 117¼ -118 ll'i½ -118½ 119 - 110
- . . . . .. . . - .. .. 119½ -119½ . .. . - . . .. 117¼-117¾ 117¼- 117¼ 119 - 120 120 - 121
ht, gold . . ...... . . . .... . .7 125¼-127 126½-126½ 127 - 127 125 -:126¼ .... - •.. . 126 - 128 123 - 123½ . . .. - .. . . 124 - 125½ 124 - 124½ 125 - 125 124½-125
lst La Crosse Dlv . . .. 7 113¾-114¾ ll4¼- 115 114¼ - 114½ 113½ -116¼ 115 - 116 113¼-114¾' 111 -113 113 - 115
- ... 111 - 111½ 112¼-113 112 - 11~
lstl.&1U.Div ... .. . .. 1'1H½-116>!! l17 - 118½ 117 - 118 117 - 119 118 - 11 9 116 - ll6J.g 115 - 115 .... - . . . . .. . . - . ... 118¾-113¾116 - l.16¼116 - 116
1st I. & D . Div . . . .. ... , .... - . ..
- ... . . .. . - . . . . 121¼-121~
lstC.&M.Div ..... .. 7126 -126 128 - 12
127 - 127 1·. 6½- 127¾ 127½-128½1 27 - 127 ... . - . . . .... - .. . .... . - . .. . 125 - 128 126 - 126
Consol., 190:; . . ... . . . . 7 123½ -126 125 - 125¾ 124¼-125'A 125!,;!-125¾ 126½- 128 125¼- 127 123½- 125½ 121¼- 125¼ 123!)(- 125½ 123 - 124 124 - 126 126 - 127
ht I. & D. Exten . . . . . , 122½ 124 124 - 124 123 - 12! 122 - 124 127 - 127½ 124½- 124½ 123 - 121 124½ -124½ 124 - 124
. . - . . . . 122¼- 122M 122¼-123
1st So. West Div .. . ... 6 113 - ll3¼ U 3)1;- 113½ .... - ... ..... - .. . ..... ......... - .. . . 11 2¾-115 115 - 115 1111½ - lll¼ lll½-114½ 112 - 114½ 113 - 114~
1st La C. & Dn.v . . . .. . ii 102½ -102½ ... . - ...... . . - . .. . . .. - . .. 105 - 105 10! - 104 108½- 103½ .. . - ...... . . - ... . . . . . - .•. 10~~ 102~ 102 - 102
1st So. llllnn. Div .... . 6 lll¼- 113¼ 112}.(-114 11 2 - 113 110½ -112~,t 112}(-113¼ 110.J.4-11 3 109 - 111:)a 111½- 113 107½- 113 109¾-110¼ 110½-112 111 - 113
1st H. & D. Div . . .. .1 122 -125 12:3 - 1!?3½ 12a - 124 122½-128½ 124 - 124½ 123 - 124½ 121 - 122 122 - 122¼ !19 -121¼ 120 - 120 122 - 122½ 122 - 122~
1st H. & D. Di v
. 5 98'¼-100 100%- 101 100½-100½ 101 - 101 101½ -101¾ 103½- 103½ ... - . . . . . .. - . . .. . . .. - . . . . 99¼- 99¼1 100 -100 100½-100½
H.&D.Div,, 190~ .. 7 . . .. - .. . . .. .. - .. .. ... . - . ... .. . - .. .
. . .. - . ... . . . . - . ... . .. . - . . . . ... . - .. .. ... . - . ... 120 - 120 .. . . - ... .
CWc.&Pac. Di v . . ... .6 . .. - . .. . 120 - 122 119 -120¼ . .. . - . . . . 123 -123 11 9¾- 120½ 121 - 121 121 - 121 .... - .. . . 118 -118
Chic. &Pac. ,v .Div . .5 lOl ½-104 103¾- 105 103½- 104'>fi 104 - 104½ 104¼- 105½ 104¾ -105¾ 108¼-106 105!1:(-107 103½ -106½ 103¾ 104 104 - 105¼ 104¼-105¼
Ch ic. & Mo. R. Div . . a 05¼- !l8
98 - 99¾ U8%- 99
98½- 100½ 100 - 101 100 - 100¾ 97½-100 100½ - 101 100 - 101
99½-100 100 - 100
98½-101½
.tlineral Point. . . .. . . . . :; 10 1 - 101
- . ... . . - . .. . 102 - 102 . . . . - ... . 101 - 101 100 -100
. . . - . . . l 00½-102
99½ - 100 100½- 101 101 - 102
\.Vis.& Dlln. Div . . . .. . ~ 100 -101 101 - 101% 101.J.4-101¾ 102 - 10:.!¾ 10 1 -104 100 - 102½ 100 - 101½ 101½- !02~ 98¼-100
fl9% -100½ 100 - 101¾ 100 - 101
Teuninal. ... .... . . . . . .:J 100 - 101 101 - 10 1½ 101 - 101)4 101 - 102¾ 102 - 1' 2~ 1102¾-10:J 100 - 10!?½ 101¼-102¾ 101 - 101 101 - 101¼ 101¾- 102¼ 102 - 10~
lnc.conv.,!i..F . ...... /i . . . . 95 - 95 .. . . - ..... . . . - . . ... . . . - .... .
. ..... . .
Dakota & Gt. S o . ... /5 95 - U5
- . ... 94¾- 94¾ 92½- 9:lXi 114½- 96
96},{- 96¼ ... . Chic. & North west.Consol., 191 1) .. .. .. .. . , 139¼ -143 140¼-142¼ U l¼-142½ l!U½-142¾_ 140 - Hl 141 - 142¾ 143 - 14!¼ 142 - 142½ 142 - 14S 144 - 144)4 1!2½- 144½ 142½-142½
Gold, coup., 1902 . . . . 7 129 - 131'}.f 130)4- 132 130 - 1S1 130 - 131¾ 131 - 132½ 128 - 130 130 -131½ 130¾- 1:'ll\4 180 - 132 131½ - 132 131 - 132¾ : 28 - 128}4
Gold;rear., 190~ .. . .. . , 128½-131 1307Ai-131¼ 129 -131 130 - 180¾ 13 1½ - 131½ 128 - 129~ 129¼-180 180~ -131¾ 180 -130 130½ - 130¾ .131½-182 128).v-128½
Sinkina fund.coup . . .. 6 . . .. - .. . . 1i 1 -121 120½-~ ~ 118¼- 120 120 - 120),( m, -119½ . . .. - . . . . 120 - 120 119½_-120 118 - 118 . . . . - ... . 119 - 1~9
I
s:!:~!~t~::~~ ~·~~~·: J 108 =1io .. io0ll:{=lii .. ~~~~=~~~½ ioe =108.
· , Reiiiste1·ed . . . . . . .. ... {j
Debenture ..... . .. .. .. . . ['i
Registe1•ed . . . . . .. .. ii
~:; yrs, deben., 1909 .a
109 - 109
108¼-109
109½ -110½
108 - 109¼
.... - . . .. 1on,<-10i½
10l¾ - l05X 104¾-105¼
llOJ,ii-110½
108 - 109
107 - 107
105 - 105
. ... - . . . .
uo - 111
107 - 107
104½-106½
~~~~=~~~ ic>~:108¾ i07¼=108 .. i08¼=1io··111o½=liO¾io7'4=108 .. io·;¾:108¼108 =108¼
1
107 - 107!J.t
107 - 109½
107¾- 108¼
104 -105½
108.½i-108½
108 - 108½
108½-108¼
105¼- 105~l
.. . 108½- 108½ 1•• • • - • • • •
110 - 111 lll½-111½ 111¼-112¼
. ... - . •... . .. - . ... 110 - 110
100!,:(-106½ 100 - 106¼ 105 - 106
106½- 1<'8
111 - 111¾ 108½·109¼ 109Xi- 1119½
110 - 110 107½-108 .. . . - . ••
105¾-106½ 103¼-104¼ 104 - 104~
::;r~~i;~:::~J :~:}4=~~:. ii:jt .~t= ~~~ :~~ =~~~ .~~:=~~~I···.:~:¼=-~~~....·~~:..¼=-~~~... .....~~~~-;~.~¼=
~ti.;½
=::~:~~:¾= ~~~:~:~= ~~::
... .... - ....
1
Jowa lUidland- lst . . .8 120 - 129
... - . . .. . . . . - . .. .
- .. . . 131¼-131¼ . . . . - . .. . 131 - 134½ 13-i -135 135 - 135 131 - 132 132 - 132 Ut.&¼- 132½
Pcnin uln.r 1 s t c onv.7 . ... - . . . . . . - .. . . 127 - 127 . . . . - . . .. 125 - 1~5
125½--125½ . . - . ..... . . - .. . .
Chic.& Iil.- ht .. . ... '7 .. .. 120 - 120 119 - 119 .... - . ... 120¼ -120½ .. . . - .. . . . . . - .. . . l19 - 119 120¼-120!,t 120!}.(-120¾ 12a - 123 l\!3 - 123½
Winona& ISt. P.- 2d.7 129!>4-131 131~- 132
- . . . . 1:n -131
- .. .. 1:io - 130
........ - . . . . ... .
lUil. & Mad.- lst .. . . . 6 ... - ... 113 -113
- . ..... . . - .. .. . .. . - . .. . 11 3 - 113
Ottum. C. F. & St. P.a 108 - 108 106½-108 105 - 105 106½- 106½i 106 - 107½ ....
- . . . . 108 -108 ... . - . . . . 106¼-108
- ... . 108 - 108
l\01·then1 Ills.- lst . . :i .... - . .. . 107 - 108
- ... . .... - . .. . 107 - 107¾ .... - .. .. 106¼ - 108½ 106¼- 108!.ti . . .. - ... . 107 - 107 . . . . - .. . . 108 - 108
Ch lc.R.I. & Pac.- Cp . .. 6 131½ -132¼ 132½- 133½ 181½-133½ l30½-133 182½- 1S3 132!}{- 134 130 - J3UJ.t, 131 -13 l . .. . - •.. . 131¼-133 132¼-133¾ 134 - 134
Registered . . .. ..... . .... 6 . . . . - .. . . 133 - 133:½ 130)4-13:.!
. . . - . .. . 132 -133½ 132½-133 129½-180 120½-130 .... - .... 182 - 132 . ... - .. . . 131 - 134
.a:.xten. & C ol. . . . .. . . .. /i 107 - 107½ 104¼-107¾ 104 - 105¾ 105 -106>-1 106¼-108 107½-108 105),(-105¾ 105¾-106 106 - 106-)ji 106½- 106¾ 106¾- lO'i¼ 106%- 107'9
Registe1·<'1I.. . . . . . .. .5 . . . . - .. . . 101¼- 104~4 105¼-105J4 .. . . - . .. . 107 - 107¼ 105½-105½ . ... - .... 105¼-105¼ .. . - .. . .' lll6 - 101\
Keok'k&DeslU.- lst,a 107 - 107¼ .. .. - . . .. 107 - 107 104 - 104¾ 105 -105 105¾-105~ 105%-106 105 - 106
- . ... 105 - 105 110-i - 105 104¾- 105
Des lll. & Ft.D.- lst,4 107 - 108 . . . . - .. . . 8 j - 85
- . ... 85 - g;, · · · · - · · · · ··· • - · · ·· 1 85 - 85
E tension . . . . . ..... .4 86¾- 87
86 - 86 . .. • 7¼- 87½ 85 - 85 . .. . - .... 85 - 85
- . . . . . . . . - •· ·· ,·· · · - •· ··
Chicago&St.L. - l s t .6 . .. - .. . . . .. 1 - 81 . . . . - ... . . . .. - ...... .. - ... .
Chic.St.L.&Pitts- lst .5 99ll(- 100½ 99¾- 100 W ¾- 100
97½- 97½ 97 - 97½ ~7 - 97
97 - 97
97¼- 07,¼ .... - . . .. 95 - 95½ 9~- 97 I 9M.t- 9711 ·
Chic. ISt.P. Min.& Om.Consol., 1930 . . . . . . . .6 119½-120½ 120¾-121 120½-121 121 ¼-123 122¼-123!-9 120 -122¼ 121 - 123 120¾- 121½ 121 - 121½ 121½-1~¼ 121¾-123~ 119½--121
1
Cbic,St.P.&M.- ht .. 6 122:J.4-124½ 125¼\-126¼ 125 - 125 125 - 125 122½ -123 . ... - ... . 124 - 125
- . : .. 126~-127 124 - 124 123 - 128
St. P. & S. City- lNt . . 6 123 -125¾ 125 -126 126 - 126 122½-124 123 - 123¾ 123;1:{- 123¾ 123¼ -126¼ 126 - 126½ 127 - 127 123 - 124 123¾-124 124 -124
Nor. '\Visconsin- ht .0 .... - .. . . 124 -124¼ . . . • - ..... . . . - .... 125 - 125 .. . . - .. . .. . ... - . . ... . .. Vhic.&.W.1.- lst,s.f .. . . 6 113 - 118¾ ... . - . .... . .. - ... ,115 - 115 112½-112!,j; .. .. - .... 114 -114 . .. . - . . . . . . .. - ... . 114 - 114
~en. mort . . ... . ... . ... .. 6 ll5X-115¼ 116¼-116½ 115½-115¼ 115 - 116 ... . - . ... 113¼-115 114¼- 114¼ ... . - . . . '115½-115½ U7¾-118
Cm.In.St.L.&C.- lst.4 ... . - .. .. .... - .... .. .. - . ... 94 - 94
- .... 04 - 9-!
Cin. J . & M.- lst,cou . /j 0-J ½- 96
96 - 96 . ... - .... . . . .
. ... 95 - 95 92¼- P2½ 92½- 93
- .... M - 94
94~- 95¼ 95 - 96
92 - 92
• in. Laf. & Chic.- bt.7 . ...
- . ... 123¼-1 ~
Cin.&S.-•Gu.V.C.C.&I 118 - ll S
- .. . . 115 - 115 .. . . - •··· . . . Gua1·. Lake Shot·e . . .1 . ... - ... 120?,,.(- 120}( .... - ••• • 121¾ -121'4 .. .. - . .. . 119~-ll~ .... - .. ......... . - •..•
'leve. & Canton- bt.5 . ... - ... . 94¼ - 94~ 94½- 94½ 95 - 95 . . . . - . .. . . .. - .. .. 91½- 93¾ 93½- 94¾ 94¼- 9~ 94 • 9~
Cl.
c.& I.- 1st, s . Jd. 1 119½-121x\ 121 - 122 . . .. - . .. . 12a - 123 120 - 120¼1 . . . . - . . . . 122½- 122½ 12! ½-123 L21¾- 122 . ... - . ... 119~- 120 120%-121
Consol.. ... .. . . . .. . . . .. . .. , 1~8 - 120 127 - 12\J . . . . - . .. . . ... - . ... .. . - .. . . 126 - 126 131 - 131 131 -131 .... - . . . . 181 - 131 131 -132 180 -130
c.
~:::~~18;0!~::::::·: :::~io7¼=108½ ioS¼=IOO.. lios¼=llO. liio =iii .. ~~: =~~:· 1iia =1i3.}io =1io··1io9 =1ii.. iioJ.9=1io½ iii. ~113.. ~!~~~:~ : ::-
Col. Coal & I.- lst,con.6
Col.H.Val.& T.-tst ... :;
Gen. gold, 190 4 .. .. . . ti
Col •..,&Cin. Mid. lst ... 6
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
100 -104
70¼- 73-¼
70 - 75
94½- 95¼
101 -102 101¼-102 101:}s-103 103 -106 104 -105½ ,104¾- 106 103 - 104¾
71½- 73
63 - 70½ 65 - 69¾1 tl7¾- 70!,sl 70½·· 72½ 72¾- 80
7\l¾- 84½
71 - 72:}-.( 63 - 69¼ 65 - 69
69¼- 71
6U - 70
75 - 78-¼l 79¼- 83½
. . . . - .... .•.. - •.. . . . - . . .. 92 - 92
92 - 94
~ - 91
. .. - ..• .
1
1
1
103¼-105 104. - 105 103¾-104'-(
76¼- 83¾1 i8½- 81 178 - 79½
79 - 87
82 - 85
& - R6
. .. . - .. .. 90 - 00 . . ..
104
77
81
93
- 104¾
- 81
- ~'Jt
- 94
60
RAILROAD
BONDS.
l 888-{;ontlnued.
JANUARY FEBR'RY.
BONDS.
------Delaw. &
MARCH.
APRIL.
MAY.
JUNE.
JULY.
AUGUST. 8EPT'BER. OCTOBER. NOV'BER. DEC'BER.
Low. High Low. High Low.High Low.HiJZh Low. High Low.High Low. High Low.High Low.High Low.High Low.High Low.High
- -· ----- ·- - - -
----
---· ---- - - - - - -
---- - - - - ---- ------•---~
Hud. Cnnal bt, 1891 ........... . . ... 1 106¾-107¼ 1071}.f-108¾ 107¾-108½ 107'½-lOO lW¼-110 107 -110!-4 106¾-107 lOM.i-107¼ 107¼-lOi¾ 107~.{-10$¾ lO ¾-108¾ 106 -109
l11t extended, 1891 .. 7 . . . - . .. . .. . - .... 108¾-108¾ . .. . - .... 110 -110 110½-110!-i! 109 -109 .... - ..•.
Coupon, 1894 .......... 7 ll~-116¾ 117 -117 .... - .... 113 -118 118~-llSll:{ .... - ... ll~-116¼' 116 - 116
- .. .. llS¾-114" 114~-115¾ ll~-116½
Reg., 1894 ............. 7 114 -114 .... - . : ...... - ....... . - .... 113~4-113¾ .... - .... 114½-114½ 116¼-1163'
Penna. Dlv.-Coup . .' .1 139¼-141 1-12 -143
- ........ - .... 137 -142 141½-142 .... - ---- 139 -139 .... A.lb.& 8u11q.-lstm .. 1101½-101½ 101¼-102¼ 102 - 102¼ 102½- 102¼ .... - ... . 108¼-118¾ .... lat coup., arun.r ...... 1 ... - .... 192 -132 .... - ........ - .... 180 -130 HI0¾- 131½ .... - .... 132~-134¼' mo -133½ .... - .... 182¾-185
lat rear., a-uar ........ ,- ... .... 138 -188 .... - . . . . . . ht coup., guar ...... 6 118 -121 121 -122¾ 122½-128¼ 119½-120½ 122¼-123 128 - l2SlJ4123¾-124½ 123:)4-124➔4 124 -124½ 121 -122½ 122½-123¼ 12a -12~
lat reg., guar .... .. .. 6 .... .... 128¾-123¾ lll)¾-122½ .... Rena. & Sar.-lst .... 7 144 -144
- ........ - . .. 145 -145 .... - .... 144 -145 .... - .... 147 -147
- ........ Reaistered ....... ... 7 . . . . . . . . . . . . - .... 145½-147 144½-144½ .. . Del.L.& West.-Conv .7 110 -110¼ 110½-110½ 111¾-111¾ 111 -112¾ 112¾-1127Ai .... - ........ - ........ - .... 112¼-112½ 113 -118 109 -109
Dlort., 1907
........ ,- 135¼-138 140 -140 185 -135 .... - ........ - .... 13:~4-188½ .... - ........ - .... 138 -138 136 -137½ 140 -140
Syr.B'n &N.Y., lst .. 1 18()½-132½ .... - ........ - .... 132 -132
185 -1&5 135¾-13ri¾ 136¼-1~ 133¼-1337Ai 184 -IM 189 -189
Itlorrl11 & Essex-1st.,- 141 -142 18~-136 143 -143¼ 144 -144 140¼-14.l½ L41½-142 143½-144 142 -144 143¾-148½ 143¼-145 142¼-148¾ 148¼-144
2d mort ............... 7 110 -110½ 107½-108½ lif.¾-108½ 108½-109 108!),.(-109½ 109½-lll 110½-UO½ 106:¼;-107½ 107¼-107½ 107¾-lOS½i 108 - 108½ 108'¼-109¼
1900 .... ____ ........... 7 LIS -118 119¾-lll}!J,.( .... - ........ - .... 121½-121½ .... - ........ - .... 122 - 122 1~5 -125 128 -124¼ .... - ... .
.'111, 1871-1901 ....... 7 125 -126½ .... - .... ··-· - .... 125 -125¾ . ... - ... . l2t\½-126½ 127 -127 126 -126 126 -127 125 -125
- .... 126 -126
Consol., 1ruar ......... 1 132¾-18~ 185¾-136 135 -136 186 -187¾ 136½-187½ 184c½-138½ 136¼-138½ 188 -139 138½-1391}.! 139¼-142 ua -148 l39!)4-14l;J.(
N.Y. L. & W.-lst .... 6 127 - 127 UlH:)4-129¾ 129 -129¼ 129 - 130¾ 130½-130½ 1S1 -133 131 -l!U 131¼-131½ 180½-131½ 131 -131 . ... 131½-132½
Construction ... . .... ~ 107'½-IOB¼ 110 -110¾ 110 -110¼ 108~-110 109¾-ll~ ll(}¾-110¾ 111 -112
. - .... 111¾-111¾ 111½-112½ .... - .. .. 113¼-113¾
Denver & Rio G.-18t .7 119¾-121 120 -121 121 -121¼ 121~-121',( 118¼-119 119¾-120 120 -120 .... - ........ - .... l.20¼-121½ 11$¾-119¾ 118¼-119
Newconsol, 1936 ... 4- 76¾- 79½ 77 - 79¾ 75 - 77½ 75-1/4- 79
7tS - 79¾ 77 - 78¼ 75¾- 76
76 - 77'1( 77¼- 78¾ 77~11- 79
77 - 78
7tS - 77½
Denv .&R.G.W .-1st .. 6 71 - 72
72 - 73
71½- 71½ 71 - 71!4
76 - 75
81:)4- 83
80¾- 80>11
A1111ented, 1st .......... ti 66 - 68½ 65 - 66¾ 60 - 63 60 - 65½ 68 - 66 fl8'7Ai- 65¾ 65 - 72 n - 76
70¾- 72¼ 65¼66 - 70
69 -75.½;
Denv. So. P. & P.-lst.7 78½- 78½ 77 - 8, !)4 78¼- 78½ 81 - 1
76½- 76¾ 75 - 75
71 - 72
- .... 72½- 77
70 - 77½ 77 - 80
Det. M. & ltlarq..J
lo.
Land grants, 1911 .3½ 84¼;- 48
39 - 40¼ 86½- 40
85 - 37
84 - 36
34 - 84
36½- 38¾ 37 - 88
36 - 38 .... - .... 84 - 85½ 38'7k 84¾
1st, 1921 ..... .......... 6 .... 99¼- 99¼ ... . - ....
- ....... Det. B. C. &Alp.-lst .. 6 105 -105¾ 104!1,4-106 105 -106 105¾·10[».! 106 -hi7¼ 106 -108¾ 10~.(-108 107~-108 107 - 108 106¾-107¾ 107 -107¾ 107 - 107¼
Duluth & I. B .•-tst ... ~ .... - ........ - .... 94 - 94 !Mi- PS
92 - 93
92¾- 93
92 - 95
93½- 97
95¾- 97
94 - 95¾ 97 - 97½ 00½- 97¾
Dul. S.S.& Atl.,1931 .IJ .... - . ..... .. - .... &i¼- 91
85 - 87
84 - 85
84 - 90½ 38½- 94½ 93 - 94¼ 92½- 93
92 - 92
92 - 92
92½- 92½
E. Tenn. V.& G.-lst .. 1 118½-111:1½ .... - .... 120 -120 .... - .... 122 -122 128¼-128½ 120¾-121
- ........ - .... 122 -123 123 -128 128 -123¾
Dlvt11lonal. ... .... ..... :i 108 -108
- ........ - .... 108½-108¼ .
. ... - .... 10~ • 110 110 -110
E.T. V. & Ga. Ry, con ii 05),(- 99½ 98½- 99½ 9~- 99¾ 99¼-108 100 -102½ lC\2¾-103 102,½-108!4 102 -108 10}¾-108 102¾-105½ 102¾-104 101¾-108
l11t Ext .• g., 1937 .... :i . ... - .... r,3 - 93
98¾- 94
94¾- P4¼ .... llloblle & Birm.- lst .:i .. .. OJ¼- 98¾ 93~- 94:1( 94 - 95
94¾- 94¼
East & W. Ala.-l11t .. 6 . ... - ....... . - ........ - .... 50 - 52½ ··- Eliz. Lex. &Big. 8 .... fi 97 - l0l 101¾-103 00 - 99¾ 96 - 97½ 97 -100 98½- ll9¾ 99 -100~ 100 - 101¼ i:l9 -100½ 100 -101 100 -101½ 101 -101
Krle-l11t, Ext. , 1891' .. 7 120 -120 120½-120 122 -122 121 -121 119 -119 119 -120
- .... 1111½-lW½ lll-½-119¾ . ... 2d, Ext., 1919 . ....... ii 118¾-113½ 114½-114½ 112 -114½ .... - .... 115 -116 118 -118 118 -118 118 -118 .... - .. . 118 -1181}.!
3d, Ext" 1923 ....... 4½ L05¾-Hl7
- ... 105½-106 107½-108
- .... 106 -·106 110 -110 lll½-111½ 109 -111¾
4th, Ext., 1920 .. ..... ~ 118¾-118¾ ... - .... 114¾-115½ 113 -113 1147-!'-115 116¾-118 118 -118
- .... 115 -110 .... - ........ 3th, 1888 ...... .... .... 7 101¼-10!½ . •.. - . ... 102¾-102¾ 102¾-103¾ 108½-104
3th, Ext., 19!l8..... ... 4- .... - ........ - .. ...... - .... 101 -101¼ lCI0\14-101¾ ... . - .... 102 -102 lOi¾-102~ 102½-102¾ 100 -100¾
l11t, consol., gold ...... 1 185:¼;-137 187 -187½ 18.2½-184 133 -185 184¼-135 131:1(-185½ 1R5~-1S6 1~~-lSS 185!4-186 185]4-136 135¼-136 135ll:{-136¾
lat conaol. fd. coup ... ,- 1::!2 -132
- .... 181 -181 131 -181 .... - .... 128 - 128 .... - ........ - ..... ... - . . . .
Reorgan., t 8 t lien ... 6 106¾-107 .... - .... . .. - . . ...... - . .. .. . - ... ..... - ... .. .. - .... 107½-107½ 104½-106½!105 -105 105½-105½ 10~-10~
Lonar Dock ............. 1 111 -112 112½-114 113 -118¾ 112¾-115 1!4 -115 111½-lll½ lll¾-112 112¼-112¾ ll.2½-113 112¼-113¼ 114 -116 110½-111
Oona. gold ............ 6 116¾-117 117 -117 117½-118 115 -115¼ 115¾-116 .... - .... 117½-119 lUl½-120 119¼-120 116 -116½ 115½-117 117½-118¾
Buff. N. Y.&E.-1st.7 .... - ........ - ........ - . ...... . - .... ....
. ....... - .... 140 -140
- •... ·--· .N.Y.L.E.&W.-
,o
,~=~i:8~~~'
::~2.:::::
Fund.coup., 1969 ..
.~~.¼= ~~~
~~
1~~=1~
- 90
88 - 90
ii 90
Income .. . . ... .. ....... 6 ....
Erle& Pltt11b.-Con ... 7 ....
Ev.&Ind'p,con.,19~6.6 99
Ev.& T.Haute-Con .. 6116
~~~ .~~¾= ~~ .~~= ~~ .~l4=l~~~ ~~¼=l~ .~.½=l~~~1 -~ = ~~
1~=1~~¾ .~~=
1:~=1~~ .~~=
87¼- 87½ 86 - 88½ ... - ··-· 87½- Bi¾···- -·-- .... - __ .. 52½- 52½ .... - ... . ·-·· - ........ - .... ··-·
- .... 112 -112½ ... - 99 104 -104 .... - ... 106 -110 108
-117 115 -117 116 - 116½116¾-117~117 -119 119 -119 li7
F:!;
1t~ r::-:-~;;~·;~:::: !~~ =!~~
Ft.W.&Df!nv.C.-lst .6
- .... 87½- 89]4 90 - r,4
91¼- ........ - .... 6fl - 65 •··· - ........ - ........ - ........ -108 103 -103 •... - •...
.. -118 119~-119¼118½-119~ .. -. -
0
79 - 82
121½-12~
'i9 - 82
119¼ 122¾ 119½-119½ 120 -120
- .... 120 -120
7i:s¼- 81!}.f 77¾- 61
84 - 89½ 88
81
88 - FS
121 =122·
87 - 89
9-i
f11½- 92
.... •··· -
87 - 88
.... , .... -
• · ··
····1··-· - ... .
...... .... 107 -107 108 -108
.... 116 -116½116 -117
i20
=122·· i.i9)4=120 .. il.V¾=liU¾liiii½=lin½
87½- IJI~
70¼- 'il
.... - . . .
103 -106 .. .. IJ2¾- 98¼ 93¾- 95
92 - 94¼ 93¼- IJ4~
95½- 95½ ... . - ........ .... - .. . . 06¼- 97 .... 95 - 115
- •... 60 - 80
::io - 38½ 29 - :-4¾ 28¾- 80 25 - 28
117¾-118½ 117 -118½ 117½-118.¼i 116:4-110
96½- 98
89 - 03¾ 88½- IH
87½- 90
118 -118 117 -118¾ l18½-l19!)4 119¾-l.20¼
108¾-108½108)4-108½ .... - ........ - .. ..
.. .. - .... 107:1(-108¾ 105¾-106xi lOtJJ.2-1()7
88¼- 93¾ Ill¼- 93¾ 91¾- 113
- .. .. .. .. - ........ - ... 'iO - 70
Galv.H.&H.of'S2 .. :i .... Go.I. H. & SanA.-l11t .. 6 105:1(-106 101½-101½ 102 -103 102¾- 108 106lfi-10tl½ 105½-lOt!½ .... - ... 104 -104
~d mort ................. 7 104 -105½ ... - .... 98 - 98 101 -102
106 -106 .... Western Div-1st .... :i 91 - 92½ .... - .... 00 - 90¼ 90¼- 90¼ 90 - 90¾ 90¾- 91½ 91)4- 92½ IJ2 - 92%
Go.. Co •• N. C.-Col. tt' .. ~ ... . .. . . . . . - .... . . . .
- ....
Gr. Rap.& lnd. -Gen.:i 98 - 99¾ 98 - 98¼ . . . - ...... .. - . . . . 00 - 97
08 - 98
08 - 98¼ 98¾- 98¾
Gr.B.W.&St. P.-lst .. 6 99 - 99
97 - 07
00 - 90
IJ5 -101½ 100¾-102 100)4-101 101 -102 101 -103¾
2d, income ............ .. ~ 30 - 32½ so - Sl½ 26 - 28 25 - 38
32 1~- 86¾ 30 - 37
86 - 42¾ 30 - 41
GulfCol.&8.F.-lst .. 7 tl9 -122 120)4-121½ 120 -122 119½ -120l-£ 1.21½-122¾ 121¾-121¼ 118 -118½ 118 -11 · ¾
~d, 1923 ................... 6 96½- 97¾ 97¼- li77.,;, 97½- 977.AI 94½- 95x( 94¼- 95~ 94½- 95
94 - i!O¾ 96¼- 06¾
Ran. & St. Jo.-Con8. ti 119 -12tx 121 -121½ 118¼-119½ 118 -119 119 -ll~s 119 -119 119 -12 1 120 -121
Hen.BrldgeCo.- lst ... 6108¼-110 110 -110 lif.¾-107¼ .. . . - .... 110 -110 110 -llOhi ··- · - ...
Hou8at'c-Con.,1931 .. 6 .... - ..•..... - ........ - .. .
Roua. & Texas Cent.1st, IU. L .......... .... .. , 114 -115½ us -114¾ ··-· - .... 112 -112 115 -118 119 -120½ 121 -122½ .... - .... l :22:J(~l23 124 -124 12~-124~ ...• - •••.
M. L. Trust rec ......... .... - .... 111 -111 104 -110½ 110 -113¼ 112:J(-114 114¾-115¾ 115¼-118¾ 116)4-117¾ 116½-117 ll.2½-116½ 116½-ll(S¾
- ... 116 -117 117¼-118 122½-1~.2½ .... - ... .. .. - ... 123¼-124 .... - .... l:.!~.{-125-"
1st, Western Div ...... 7 118 -114¾ 112 -113½ .. Trust receipts ......... _.. - .... 108 -108½ 100 - 100 110 -110 112¾ 113¼ ll.2½-114 114;J.t-114¾ 115~-118 .... - •....... - .... 116¾-116¾ ... . W. & N. Div ........... 7 112l!4-112¾ 114 -114
- ... . .... - .. .. .... - .... 10~-106½ ... . . . .. 112 -112 .... - .... 105 -106
!ld, Main Llne .. ....... 8 107 -108½ .... 110 -110 10.",½ - 108 105 -110 110 -110 111 -112 lll½-112½ 112½-112¾ . .. Tru11t receipts ._ ... .... .... - .... 102 -1 05
Gen. DI., Trust rec ... 6 65 - e7 65 - 69 .... 65 - 68¾ 67¾- 68
65¼- 70
69½- 70
70 - 72¾ 70½- 71
68 - 68
70 - 70
05 - 65
llllnol11 Central94}4- 94½ 94}.{- 94-½i
Gold, 19:il . . ..... ... 3 ¾ 92 - 94
93½- 93½ 91 - 9~
93 - 94½ 98½- 94
92¼- 94½ 95 - 95
95 - 96
l8t a-old, 19:il. . ... ... 4- 105 -105 101½-106 105 -106 107 -107 104 -105 104½-107 107¼-108 107 -107¾ 197:1(-107¾ 107 -107 106 -107 10 -107
Gold, 19:i2 ....... :..... 4 . . .. - . . .. 98½- 118½ 99 -100
- .... l01¼-1Cl2 102 -102¼ 100 -101¾ ... Sprlnd. Div., '98 .... 6 ... - ........ - .... 117 -117
C.St.L.&N.O.-1st,c.1 .... - .... 119),(-121½ 117 -120 .... ........ - .... 119 -119 .... - .... 118 -118 .... ,TenneHee lien ...... 7 .... - ... . .... - .... .... - .... 119 -110
- .•.. 119¾-119½ .. . - ........ Gold, coup .... ........ ~ 115¾-117¾ 117¼-118 115 -117½ ll8 - 118¾ 118¾-lHI 117 -117 117 -117 118 -118 118
Gold, reg ........ .. .... :i -··· - ........ - . . . 114 -117
- •... 116),(-116¼ .... Dab. &8.C.- 2dDiv.1' 110½-111 lll¼--111½ .... - .... .. .
Cedar F. & M.,lst . .. 1 80 - 85 80 - 80½ 'i5 - 75 75 - 75 65 - 70 65 - 65
- .. • . . .. - • . . . SO - 80
66 - 67
71 - 80
67 - tS7
- .... 118 -118
lnd.Bl.&W.-lst, p1•ef7 112½-112½ ... - .... 111¼-111½1···· - ...• ,110 -112
ht, 1909 ............ ~-6 86 - 89½ 85½- 87 1.... - •••. 82
- .... 80 -87½ 84 -118
- 82
113 - 94½ 94-95 .... - .. . . e5 - 65 67).(- 12 72¼- 74¼ 61:j-68 •••• - 70
!l4, 1909 ... ········· :i-6 6 ~ 71¾ 65 - 65 .... - .... ..
Ba11tern Div ... ........ 6 87 - 87
88 - 88 . ... - ..•. ... . - .... •, so - 82
93¾- 95
95 - 95¼ 94 - 94
81 - 81¾,.... 88 - 92
Con. Income ...... .... . 6 . .. - . .. . 16 - 18 15 - 15 lff
24-25
22-22
- ... . 17 - 20½ Hi¾- 28¾ 28¼- 25
- 21
Jhlo Ind. & W.-1st.~ .... - ....... . - ........ - ....... .
........ - ... . 84 - 85¾ 84'-'- 85¾ 77 - t!b 69 - 74¾
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
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61
RAILR OAD '"BONDS.
1888- Contlnued.
BOND S.
JANUARY FEBR'RY.
MARCH.
APRIL.
MAY.
JUNE.
JULY.
AUGURT . SEPT'BER. OCTOBER. Nov'BER. DEC'BER.
_ __ _ _ _ __ ___ T,ow.Hlgh Low.High Low.High Low.Hlirb Low.High Low.High Low.High Low.High Low.Hl!?h Low.High Lovr.Hii;i;h Lo~:c=ciizh
Ind. Dec. & S p'gfleld.l s t , ex funded coup .. 7 102 -102½ 103½-103½ 100 -103½ 100 -101 101½-102½ 102¾- 102!1( .... - •... 101½-102 100½-103
97¾- 97:J:( 99 -100¾ 100 -101
Ind. D ec.&W.- G. '47 .5 ....
00 - 00½ .... - .... ....
. ... 80 - 80
80 - 80
82½- 90 .... 2d inc . , 1948 . ......... ~ ...
tlO - 60
I ncome, mort. ...... . . . . . . . . 25 - 25
Int ern . & G t. N o .-lst. 6 LOO - 111½ 99 -108½ 100 -104½, 91:l¾-105
98~2""104% 103 -105 104¼-lC.8 107 -107~ 100¼-104 102 -103½ 102 -105¾ 106¼-109¼
Coupon, 1909 . . . ...... . 6 71 - 77
70 - 72
64 - 70
61 - 67
67 - 71
65 - 66
66¼- 70
67½- 70
65 - 7.0½ 65 - 66
66 -*80
73 - 76
Jeffe rs on- 1st ........... 1 ...
- ........ - .... 102¾--102¾ ... .
86 - 88
89 - 91¾ 90 - 91
Kan. C. & Om.-lst ... 5 .... - ........ 80 - 90
86 - Sfl½ 86 - 66
- . . . . 93 - 04¾ . . . - ...
K.C.Wy . &N .W ....... ht . 5 ....
94 - 94
....
71 - 73½ 7H,(- 73½ 73 - 'i3½ 72½- 78¾
K e ntucky C., 1981 .... ,4 00 - 75 71 - 74¼ 70 - 71
69¾- 70
70 - 73
71 - 72½ 69½- 71
70½- 71
08
-100
98
-104
102 -104½ 102 -103¾
Knox.&O.- ht, 1925 .6 89¾- 94½ 92M- \12!¾( 91 - 92¾ 00 - 98
06¾- 98
98 -100
95½- 9u
95½-100
Lake Erie & w.- lst .. 5 t Oll>!;-104 103 -105 105 -105;,( 103¾-106¾ 107½-llu 105 -1C8½ 105 -106½ 105½-106 105½-107 106½-107¼ 107½-108¼ 108¾-109
Lake Shore & M. So.- .... 109½-110¾ .... - .... 110~-110¼
lJI. Pains. & Ash ..... . 1 111¼ -lll¼ 111¼-111¼112¾-11~ .... - ...... .. - .. .. 111½-112¾ 111%-111'¾ 112 -112
. . . 120 -120 120¼-120¼ . . . . Bud. & Erie- Ne w .... 7 119¼-123 121½-122 .... - . . . . . .. - ... . 120¼-120½ 121 -12l 122 - 122 .... - ....... .
- .... .... - ........ Kai. & W. P.- lst .... 7 104¼-104½ .... - ........ - ........ - . ... 103½-104½ .... D e t. Mon. & Toi. ., ... 7 129 -120¾ .. .. - ..... ... - .... 127 -128½ 128 -128 129¼-129½ ... ~ ....... .
L. S hore-Div idend .. 7 120 -123 122 -122¾ 123¾-!23½ 120¼-120¼ 121 -121½ 121½-121½ 122J.tH22¼ 123 -123 124 -124
- .... 121½-121¾ . . , 1st con., coup ........ ')' 125¼-127 125 - 126¼ 125_14-125¼ 125½-126 126 -127¾ 128 -128!>!) 125 -125 127 -128 127 -127¾ 127¼-127¾ 1~7½-128% 128½-129¼
1st con., reg ....... ... 7 125 -126½ 124½-125 123 -125¼ 123 -124 124¾-125 125 -125¾ 124½-125½ ... . - .... 124¼-125¾ 125:½,-126½ 126 -126½ ~25 -12~i
2d con., coup ......... 7 122½-l.25 124 -125 122¾-124 124 -125 124½-u.?6¾ 123 -124r.! 124 -125¼ 124¾-125½ 124¾-12~9 125¾-126½ 12tl½-127 123 - 124
2d con., re,i ........ :. 7 122¼-124¾ 124¼-125 123¼-1231}~ 123¼-125 121:)4-125½ 122½-123 1~½-125 124~-125 124~ii-124¾ 125¾-120¾ 126¾-126½ 123 -124
lllahouin&r Coal RR .. 5 102¾-103 .... - ........ - ....... - ........ - .. .. 105½-106½ .... - .... 105 -105¾ ... . - .... 106 -106½ 106½-107 109 -109
Little R. & F. S . - lst 7
- .... 108½-108½ ... .
Lon&r lsland - lst ........ 7 120¼-121 .... - .... 121 -121 122 -122 119½-121Xi 120½-122½ .... - . .. 122 -122 123 -123 . ... - .... 120 -120
1st. consol.. . ........ ... 5 ff!. -111½ l lll,4-111¾ 112 - 112 113¼-113¼ 114 -114 115 -115 114 -114 .. . . - .... 114 - 114 .. .. - .... 114 -115 115¼-115¾
Gen. mort., 193~:... 4 .... - ........ - ...... .. .... 92½- 92½ 93 - fl4½ 94 - 94½ 92 - 92¾
Louisville &Nas h v.
Cons ol.. ........ . ......... , 120 -121. 121 -123 120 -121 116½-118 "!.18 -118¼ 118¼-119
- .... 119½-119!),! 119¾-120¾ 116 -118 118 -118 118 -119
Cecilian Branch ...... , 107¾-10:-¼ 1087'{-109 104¼-105 105 -l05½ 106 -10e¼ 105 -105½
.... ....
... ....
- . ... 107½-10;½ .... N. O. & Mob- lst .... . 6 lOS¼ -110 110 -110 112 -112½ 112½-114~~ 114 -:!.14¾ 114½-115 111 -112 115½-115½ 114 -115-'h; 114½-116 114 -114 113 -111?
2d ...... ................ . 6 96½- 97
99¾- 99¾ 96½- 07
98 - 99 100 -100 . . . .
1!8%-100 100 -100
99¼-100 100 -100
E. H. & Nn.sh.- 1st ... 6 .... - .... 114 -!14 114 -114 115 -115 .... - ... 115 -lUi 114 -116M 115 - 115 116 -116 114~-114¾ .... - ... 114 -114
Gen' l mot·t . . ............ 6 109-}.(-113 112¼-113 113 -114 113½-114% 114 -115 111 -112 lll½-114 112½-114 113½-114 1121A-113½ 114¼-115 111 -112
Pensacola Div .... ... . 6 ... - ........ - . ... 100 -10 1 101¾:-101¾ 103 -10-1 .. ..
. .. 103 - 104 103 -106 ... .
St. 1, ouls Div., 1st . . 6 115 - 115
- ........ - •....... - . ... . ... - . . . . . .. - . ... ll5 -115
2d . ........... . ..... ...... 3 . . . . - . . . . . . . .
- . . . . . . . . - . . . . . . . . - . . . . 58 - 58
58 - 58 . . . . - . . . . · • · ·
Nash. & Decatur...... 7 116~117¼ ... - .... 119 -119 .... - •....•... - ........ - .... 119¾-120
... 121 -121
Trust bonds, 1922 ... 6 108 - 110 108¾--109¾ 106¾-107!1-4106¼-109¾ 109 -lIO~ 109 -110¾ 108½-110¾ 100¾-110½ 10.:S¾ ·lf9 1089.i-109¾ 109¼- 109½ 108 -109
Ten-Fortv, 1924 ..... 6 .. - ·-· 104 -104 .... - .... 104 -104
- .. .. 101 -101 .... - . ... 101½-101½ 103 -103 103 -103 102 -102 101½~101½
Pens ac. & Atl.- lst .. 6 .... - .... 95 - 97 .... - .... 94 - 04
93¼- 94
96 - 00
96½- 99¾ 95 - 06
94 - 94
IJ5 - IJ6
96½- 98½ 06½- 98
:i0-y r. gold, 1931 . .. . 5 100 .J..01 100 -101
99½-100 IOQ¾--102¾ 99711-101 100 -101¾ 100 -100 100 -100 100!,4-100½ 100%-100¾ 97½- 97½ ···· Lou. N.Alb.& C.- lst. 6 109 -112¼ 109¼-ll~ 108 -110 107¾-110 llll -114 112 -115 111 -114¼ 112¼-114~ U4 -114½ 113¼-115 113½-115 115 -116
Con., gold, 1916 .. .... ti 00¾- 93
91:}.{- 92½ 91 - 92
87¾- 01
89¼- 02½ 90 - 92
91 - 96
95 - 97
95½- 97
94 - 9!½ 92 - 94¼ 93 - 93½
Louis. N.O.&T.- lst .4 ... - ... 80 - 82 85 - 86 .... - .... 87 - 87 87 - 87 87 - 87
87¼- 87½ 86 - 86
- ... 87 - 87
87 - 87
lllem.& Chas.- Gold ... 6 100 -102":,ii 100¼-101¼ 101 - 102 101 - 10::l¾ 104¼;-105 lOt -lOf>½ 102¾-10,P,~ 1r;3¾-104¾ .... - .... 105 -10"¼ 104¼-105¾ 104 -105
MetropolitanEl.- lst .. 6 113½-116¼ 111½-11 4 108¾-113½ 109}4-113 113 -ll7 113 -116 112 -114¾ 114 -114¾ 114 - 115 114 -115 114¾- 116¼ 115 -116
2d, 1899 ... .. .......... . 6 103 - 105¾ 108¼-107 104 -107 104 -107½ 104¼-106½ 104¾-105½ 105¼-108 106 -108 106¼- 108 107 -109 105 -106 104 -'1.06
lllex. Cent.-New ass• t.4 66 - 67 65¾- 65¾ 63 - 63
71 - 71¼ ... . 67 - 67 '
Inc ome, 1911 ......... 3 20 - 20½ .... - .... 17¾;- 17½ 21 - 22½ .... .... 20 - 20
- . . .. 22%- 22¾
lllex . Nat.- ~dinc . "A" 6 .... 62 - 63 ·
2d income " B " ..... ... 6 .. .
. .. . .. .
18 - 18
Mich. Cent- lst,consol. 7 127 - 128½ 128¼-130 128¾-12&¼ 128 - 130 L26 -127½ 126 -130½ 130 - 131 130 -130½ 129 -131 131 -132½ 128½-130¼ 131½-131½
1st, con11ol . ... .. . ....... [) 110 -110¾ 100¾-110 110 -110 109 -110¾ 107½-107½ 108½-110 110 - 110 110.¼J~lll½ .... - . ... 112 -112 .... - ... . ll0½-110½
,1909.. . .. .. .. ... . . .. .. 6 . . . .
- .... 120 - 120
Coupon, 1931 . ......... ~ 108.½-10{1¾ 110¼-111¾ lUS¾-108¾ 112 -112 113 -114 113 -11~4
- .•. . .... - ... . 111 -111½ 111 -111½ ··• · - . ••.
Reldstered, 1931 ..... 5 .. - ........ - .... 107½-109
114 -114 .... - ... lll -112
- .... 111 -111 111 -112¾ 112½-112½
104¾-105
Jack.L.&Sag.1891.6 .... - ... .. ... - ........ - ....... - .... . ... - •··· 104 -10-l . . . . - .... 106½-106¼ 103½-103½ ... . Mid. of N.J.- ht . .. .... . 6 lll½-113½ 112½-113½ 112 -114 109 -llOJ~ 110¾-112¾ 113 -113¼ 113½-114¾ 114 -114 114½-115¼ 112¼-113¾ 113 -114 114 -115½
MU. L. Sh. & W.- ht .. 6 lll!½-120½ 119 - 120 t20 -121½ 120 - 121¾ llSJ,(-118¾ 118 -119 11894-119½ 119 -119½ 119 -120 118¼-120 116 - 118¼ 116 -119
Conv. deb ............. .. :i .... - .... 88 - 89½ 83½- 89:It 88 - 88½ 88 - 68¾ 89 .. f:9¾ ti9 - 92
89½- 90½ .... - .... 88 - OO½ es - 92¾ 90½- 98.!,<S
Income ... ............ . . . 6 100 -100 102 -102 00 - 99
9S - 98
98 - 98
MlcbiganDiv ....... .. . 6 114 - 115 113½-113½ 110 -113 114 -c14 110½-110½115 -115 113½- 113¾ 115 -115 . . .. - ... . 11B:{-111 J6 lll2 -112
•·· A s hland Div., lst .... 6 116¾-U 'i¾ ... - .... 113½-113~ 116 -116
- .... 114 -114 114),f-114½ .... - ... . 111½-111½!112 -11~!<.; 113½-113½ ····
Mil. & No.- lst, 1910 .6 105.½-110 110 -110 110 -111 109 -110 110 -111 106½- 108½ lOS½-109 108¾-109 108½-109 108½-108¾ 110 J.:(-109½ 106 -1011
1st, on exten., 1913 .. 6 104¾-108 \0,½-108¾ 108 -108½ 107 -108½ 107 -108 10;; -106¾ 106 -107 tv7 -107½ 107¾- 108 107¾-107U 107¾-H,8 104 -105
Minne ap.& St.L.-1 s t . 7 105 -110 102 -102 102 -103 104 - 110 106 -HO
91 - 01
93 - 93
96 - 06
95 - 07
94 - 97
90 - 91¼
Iowa Extension . ..... 7 95 -100
98 - 98
- . . . . 95 - 05
95 - 95
- . . . . 84¼- 84¾ 83 - 83
89¾- 89¾ 86 - 86
80 - 80
2 d mort., 1891 ........ 7 . . . 60 - 60
82 - 82
So. West. Ext. , 1 s t ... 7 .... 75 - -;5
Pnc. Ext. 1st ........... 6 .. .
. ... 95-05 .. ..
56-56 .. .. Imp. &equip. , 1922.6 53 - 55 50 - 59 ....
51½- 51½ 50½- 53¼ 50½- 5C% ....
.... 56-56
- . ... 95-95
Minn.&No.W. - lst,&r .. :i .... - . ... 98 - 98 118 -100½ 100¼-100½ ..
Miun.S.S.M.&A t .l st .5 .... 92¼- 93
92.½- 92J.I! ...
i.llo.K.&T. - Gen. con . . 6 68 - 73¼ 68 - 71
60 - 68½ 60½- 69½ 61%- 70
57½- 68½ 65 - 68½ 65 - 68¼ 64 - 681,4 60¼- 64¼ eO¼- 64
60½- 63
Gen. cons ol, 1920 . .. . 5 59 - 63¾ 50 - fl2½ 50½- 50 52 - 61
54½- 61!4 f.iOJ.i;- 61¼ 58 - 63
60 - 04¼ 59 - 63
55.½- eo
56 - 59% 55½- 58¾
Consol. , 1904--~-6 . ... 7 104½-106¼ 99 - 102¾ 90 -101.½! 94¼- 99¼ 94¾- 00½ (13 - 98
95½- 08
05 - 08½ 92 · - 06½ 88¾- 9t½ t-0 - 92
89½- 91~1
L
Uoblle & Ohio-New .. 6 108½-116 115 -115 l ll½-113 i.12 -115 113½-115¼ 110~;-118 112¼-112½ 113¼-114 \13¾-114½ 113 -113 114 -114 llQ¼-110½
1 s t, e xteu., 192 1' ...... 6 105¼-105½ ....
. ... - .... 10-1½-10-!¼ . ... - .... 103¾-104 103 -103 ... .
1 s t pref. debe nt ure ... 7 45 - 50
49½- 5l
43 - 51
45 - 50
48¼- 50
46 - 48½ 49 - 51% 52 - 54¼ 54.½i- 54½ 56 - 56 . •. • ~d pret. debe nture . . . .'7 25 - 26
25~- 28}~ 25 - 28
26 - 28
28 - 29¾ 25½ -27
3d pref. debeuture .... 7 20 - 21
~l - 23½ 20 - 20
21 - 24
24.½- 27
24½- 26¼ . .. - ... . . .. 25-25 .... 4th pref. de bc ntu1·e .. 7 13 - 18
10¼- 21
18 - 21
20¼- 23½ 24¼- 24½ 22 - 23¼ 25¼- 25½
Gen. !U., 1938 ... .. .... 4
:-18 - 4il½ 42½- 47~ 47½- 50
47 - 49¾ 48 - 50
45 - 49
38 - 42¾
S t.L.& Cairo- Gunr.4
72 - 72 .... - .... 73 - 73
?2¾- 72¾ ....
72 - 72
Morgan'sL.&T.- l s t .. 6 .... - . . .. 107¼-107¼ 108 -108 . .. - .... 106 -106 llQ¾-llL¾ 111}~- lll¼ .... - .... 109½-109½ .... JUutual Un . T.·-S. F .. 6 84½- 86½ 88 - 93¼ Ill½- 93
91 - 03½ 90½- ll3¼ 02 - 03½1 92½- 99
06¾- 97¾ 06½- 08 97!,!- 98 94 - 04;1:1 94¾- 00%
Nashv.C.& S t.L.- tst . 7 128¾-130 1 9¼-130 129¾-130½ 129½-130 180 -130 130 -132 129¾-130 129¼-130 121.J -130 1!30 -13<1 129¾-1:JO¼ 133 -133¼
2d, 1901 .. ............. . 6 105}~-106 108 -106
- . ....... - .... 107½-108¾ .... - .. ...... - . .. . . .. - ....... - .... 108½-108½ 108½-10 ½ 110½-110½
Consol. g., 1928 . ... :. 5 . ...
- .... 98 - 98½ 118½-100 99½-1~ 99~-100¾ 97¾- 98¼ 98 - 08¼ 98½-- 98¾
N ew J. Jnnc . - l s t .... .. 4 .... - ... . .... - .... 102¼-103½ 103 -103½ 104 - 104 103\1:(-104 .... · Ne w J. South.- Guar .. 6 99 - 99¼ 99 - 99
- .... ... . N.O.Pac.- lst, tr. rec .. 6 75¼- 80
77 - 77½ 75 - 77¼ 76½- 83¾ 81 - 83
N.Y. Central- Ext . ..... :; 104¾-105 105¾-106 105 -100¾ 105¾-106 103 -104½ 104 -106 105 -105¾ 106 -10614 106 - 106½ 105½-107 103~-104¼ 104 -104¾
N.Y. C.& H.- lst,cp .. 7 132:)4-134½ 133½-135 133½-134 133 -134½ 133¾-135 1186 - 136¾ 133 -134½ 134:)4-135 134½-135 135 -136)4 136¼-136½ 136½-137
1st, 1•eg . . ... .. ......... 7 132½-134 134 - 134½ .... - .... 133 -133 133:},!-135 131 - 134½ 132 -133½ 132¼-133¼ 133 - 134 134 -13! la5 -136 185~-135½
Debe~ture .... . ... . ... 5 109 -100½ 110 - 111 l QS¾-109 101:J¼-109¾ 1~-110½1110 -111~ lll¼-112 lll~-111¾ no -llO¾ 110½-110%1110¾-lll 110¾-lll}-4
Registered ....... .. 5 109 -109¾ 110½-110½
- . . . . ... - . . . 110 - 110 . . . - . . . .... . - •.. . 110½-110½ . ... - . . • . . .• 111 -111 .... - . . .
Can. So.- lst, gnar . . .. 5 105½-107 105J4-107 105 -106 105½!-106% 106¼-108½ 108 - 10&)4 108 -107½ 104¾-107¾ 104!)4-106 104¾-100¼ 100 -107¾ 107½- lOfl'•.i
'ld mort .. ... .. . . ... . 5 92~- 9-1~ 93 - 94½ 807-!· 91½ SP½- 93191 - 93 9 1½- 93 92¼- 94½ 94 - OO¾j 9Ht.- 1-13 91½- 93 9 1½- 92¾ 91 - Im-A
Harlem- 1st, coup . ... ,- 128¼-130 131 -131¾ 180½-181¾ 130¼-131 128 -1281128~129 131J4-131½ •... - ... . , . . .. - .... 133½-133½ 130!,4-180¾ 1$0½-Ial
1st, r eg• ............ .7 133 -133 100 -131 132 -182 127½-1S1 127½-128½ 128 -129 129¼-130½ lSlM-131¾ 132 -132¼ 133 -133¾ 130 - 130½ 130 -:..11
1
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
RAlLROAJJ
JJONDh.
18tt8-(;ontinued.
MARCH .
JANUARY FEBR'RY.
BONDS.
A P RlL.
MAY.
J U NE.
AUOUBT. 8EPT'BER. OCTOBER. NOV'BER.
JULY
DEC'BER
L ow .High L o w.H igh Low.High L o w.Hig h L ow .High Low.l:Cl~h Low. High Low. High Low. High Low. High Low. High Low.High
92 - 92lij 91!1<(- 93¾ 91 - 9l!J4 91¼- 92¼ Qt - 92
92 - 93
89¾- 90¾ 90¾- 92
N. Y.Chlc,& St.L.-ht.4 86¼- 90]4 88¼- 90 88¾- 89¾ 86½- 90
N. Y. Elevated-lat ..... ') 114¼-ll'i½ 114¾-116 114 - 116 114 - 116 llM(-117¼ 117½-lJ S½; 114 - 115 114~-116¼ 115¾-117 116½-117 116½-117¼ 117½-120
N.Y.&N.En1r,- 1st ... 7121½-124½··· · - .. .. .. . . - .... l22½-125½ ... - . . . . . . - . . . . .. . . - •.. .. .. . - .. . . 124¾-124½125 -125 .. .. - .. . . 126½-126¼
lst 9 190/i . . .. . . .. . ... . . . 6 112 -112 . . .. - ........ - ..... . •• - .. . . . . . - ..... . . . - . .. .... . - •••.. ••• - ..... . .. - • . .. . . .. - . . . 115 -115 llf>¾-115%
N.Y.N.H.&H.- lst,rg.4 . . .. - .. .. 105 -105 .... - ........ - ........ - . . ...... - .... . ... - ... . • .•. - ••••.••• - • . •. 111)4-111)4110 -111¾ 110 -ll~
10~¾-108½105½-107½107½-107½10;~-107~
.N.Y.&North.- ht, g ./il02¾-106 105¾-1Ci6 106 -107 105 - 105 105 - 108 107¾-lCS .. . - ... . .. •. 52 - 52
56 - 58½ . ..• - . .. . 55 - 57¾ 55½- 56
51 - 58
50 - 50
51 - 53¾ 50 - 54
52½ - 54
~d, gold, 1927 ... ..... . 4 5014- 57¾ 51 - 54
N.Y.On.&W.-lst 9 (r •• 6109 -1:al 111¼-118 109 - 110¾ 110 -112 110½·114½ 112¼-113 118¾-115 118½-115 lll½-112 110½,-112 110¾-112 lll½-113
N. Y. Susq.&W.9t¼- 97¼
~ - 95
00½- 92¼ 92¼'- 92~ 92 - 94)1; 92 - il4¾ 94¼- 95¼ 94½- 957,( 94;{- 95
91!J4- 92½ 90 - 92
lst refund, 1937 .. . . . ~ 91 - 93
. ... - ....... - .... 71 - 777-f . ... - . . . . .... _ ....... - ...•. ... _ .. ..... . - ..
2d mort., 1937 . . . 4 ¾ 75 - 75 .... - . .... .. . - ..... . •• Nori.& West.- Gen. IU .ti 112¾-1173-1! 116 -117 116¼-118 118 - 118 1161,(-118 .... - .... 118¾-120¼' 120 -120¾ 120 -120 119¼ -120 116 -116 ll6½-117
. .. - .. . .. ... - .. .. ... - . ... 111 -111 . . .. - . . .
. . - .... 1137,(-114 .... - .... 115 - 115
New Rlver- lst ....... 6 ... . - ... . .... - ... . ....
... - .... 113¾-118¼ .... - .... 100 - 109 106½-106½ ... . - . . . . .. . . - .. ... ... - . . .
Imp. & ext .• 1934 ... . 6 100 - 101 102 -102 102½-102¾ !05 - 105
.. . • - .. . ..... - .. .. 100 -109 .. .. - .. .
112½-112¾
112
112
...
.
...
110
110
108
LOS3
.
...
........
....
104
104
Adj. mort .• 1924 ..... 7
Og. & L. c.- lst,con ... 6 LOlJ.4-101¼ . ... - ........ - , .... . .. - .... . . . . - .. .. .... - . . . . .... - . . . . ... - .... ... . - . ... . ... - . . . . .. . - .. . . · .. . - · ..
Ohio & Miss. Con.s. f .. , 114¼-115 115¾- 116¼ 116¼-11 7 116 - 117 l "!.7!4-117¼ ll'i¾-119 115¼'-115½ 117 - 117 117 -117 117 -117¼ 117½-118 . .•. - .. .
Consol., 1898 ... ....... , 114½-115 115)4-115¼ 116!,i-116¼ lld¾-116¾ 116¾-117¼ l17 -119 115 - 116 117 - 117 117 -117 117¾- 117~ 117¾-ll8½ lle¾-118¾
2d, coDBoJ., 1911 ... . .7 117¼-117¾ 117 - 1!8 117¾- 11~ 116 - 11 7 117 -118½ 117 - 11 S1A 118 -119 . .. . - . ..... . . _ .. . . 117)4-1197,( 119 - 119 119 -119
1st, Sprlna-f, Div ..... . , .... - .... 108 - 108 .... - .. l09" - 109¾ .... - .. . . LC6~ - 106¾ .... - . ....... - ........ - .. . ... .. - .. .. 106~- 106¾ 106¾-100¾
. . _ . . . . . . . . - . . . . . . . - . . . . . . . . - .. .
Gen. mort ., 1932 . . . . ;; . . . . - . . . . . . - . . . . . . . . - . . . . . . - . . . . 96 - 96 . . - . . . . .. . . - . . . . . . . . • . . .
Ohio River R R,- lst .. a 07 - 97 .... - ........ - . . . ... . . - ........ - . . . . .. - ........ - ........ - ........ _ . . ... .. . - . . .... . . - . .. . . .. . - . . .
Ohio Southern- lst . .... 6 99¾- 104 l02 - 104¼ . . .. - . ... 1 02~-105½ 105~-106½ 102 -102¾ 102½-108 108¼-1 ~ 103¾-105 105 - 105¼ 105 - 106 103 -104¾
48½ - 45½ 40¾- 46
45 - 50
87 - 42¾ 42¾- 49
86 - 88
85 - 39¾ 83 - 87
29 - 40
32½- 83¼ 29 - 82
. . .. . . . . 6 SL ½- 34
2d, Income..
73 - 74½ 73¼- 74½· 73¼- 7-1}.(
i2 - 78
73 - 7-l½ 73 - 78
72 - 73
72 - 73
71¾- 78
73 - 'i5J4 70 - 74
Omaha& St. L,- ht .. 4 75 - 76
- . . . . . . - ... .. . .. - . . . . . . - ..
94¾- 94¼ •... - . . .. . .
0re1ron & al,- lst . .. ~ .... - . .... ... - . ... 91¼- 91 ¾ .... - ........ - . . .. 96 - 96
Or. R'y. & Nav.- lst .. . 6 109 - 110 •1 ()8¾-109~ 109¼-1097--' 109¼-110¾ 110¾-113 111 -112 1 ~- 110¼ 109~110 109½-110 100¼- IH 110!1-.(-111¾ lll¾-118
98½- 99!¼ 99 - 101¾ 102 - 104 101 -102 101¾-103 102~-104 102½-108½ 102½ -'.04 104 -104¼ 101 -102
99¼- 100
Consol., 192;5 .... ..... .; 967,(-100
98¾- 99:JJ 97½- 98½ IJ7 - 102¼ 101¾-105 100½-101½ 101¼~104¼ 104 - 104¾ 104½-105 104!,,; -106¼ 105"- 108 108½- 105¼
Ore1r. Imp. Co,- lst . . .. 6 f/4~-100
94¼- 96½ 94½- 96½ 95 - 99~ 95½- 99¾ 9C - GS½ 97 - 9911:( 09½-100¾ 101 -102½ 102 -103 100¾-102¾ 101 -101¾
Oreaon Tranl!l.- ht . ... 6 08 - 96
Pacific RailroadsCent. Pac., Ir•, 189/i .. 6 113¼- lU 113½-113¾ 114 - 114~ 114¾-114¾ 114¾- Lle½ UA - 116 113¼- ll~ 114¼- lH½ 114¾-114¾ 115 - 115 .. .. - .... 114!J,t-115
Gold, 1896 . . . . .... . . 6 113¾-113¾ 113~-11~ 114 -114¼ 114'-(-115 114¾-1!5-~ 116 -116¼ 118)4- 11~ 114½-114~& 114¾·114¾ 115 - 115¼ .. . . - . ... 114¾-116¼
'Gold, 1897' ... . .. . .. . 6 113!,s-11811! 114 - 114 JH - 114½ '.14¾-115 114¾- 115½ 115½-116½ 118¾--114¼ 114¾- 114¾ 114¾-115 115 - 115 .... - .... 114\14-116
Gold, 1898 .. .. . .. . . . . 6 llS½-114¼ 114~-114¾ 114 -114¾ 114~- 115¼ 11 5 - 116 116 - 116¾ 114 -115 114¼-llf>¼ 114¾-115 115 - Jl 5½ 111:i - 111'>½ lUi½-117
San Joaquin Br .... 6 l14¾-114¾ 115¾-115!1,t . .. . - .... llaJ,i-11~ 11 ~-ll<I ½ 114¾-lH¾ 116)4-116!,4' .. .. - ........•- . . .. .... - .. . ... - . ....... - .. .
...
- ... . 102 - 102 .... - ........ - ...... . . - ...... - ..... . . - .... .. .. - ........ - ........ - ... ..... - . ... • ,,
Cal.&Ore,,s."B'•.6
Land grantl!l ... ...... .6 l02 - 103¾ 103 - 103 102½-103 100 - 100 101)4-102 102¾-103 .... - . ... 103 - 108½ 103½-103½ .... - .... 101 -101¼ 101½-102¾
Mort. bonds, 1936.6 102'7~-10~ 103!4-::.04½! t037k 104¾ 101½-102}4 102 -102!J4 102¾-103~ 102 -i02½ 101¼-102½ t0.2½-105¼ 102 - 103'A 102¾-105 104¾-105¾
Western Pac ..... . ... 6 110½-111 U0½-111 112 - 112 lll~-112 ll3 -113 U ~- 115½ 112½- 112½ .. .. - .... llZ½-112½ 112 - 112¼ 112¾-118 113¾-ll4¾
No.Pac.- Gen,ht. l,g6 115¼-116~ 115¾-116¾ 116¾-117¾ 117½1-118)4 118 - 1181,-ti 118¾-11 0¾ 116 - 117~~ 116)4- 116¾ 116 -117 116 -117¼ 116¼-117½ 117¼-119
Gen.1st, 1. &-,, rea- .. 6 ... . - .... 115¼ -11.,¾ 115¼-11 7 117 - 11 8 118½-118½ 118 - 110½ L16)4-116¼ . . . . - . . .. 116 - 116 116)4-116)4 116¼-116¼ 114¼-118
Gen •• 1. g .• 2d, 1933 .. 6 102 - 105½ 104 - 105½ 105 - 105½ 102 - 105¼ 105¼-10<»4 106¼-107 107 -!1~ 110)4- 111¾ lll½-118¾ 109 -llO 108)4-11~ 109 -111
98-;l,C-100¼ 96½- 97½
98):4- 99
97>9-101
94~- 97
89 - 90Ji 89¼- 98
91 - 01¾ 91½- 92¾1 t>'z - 93
Gen. g., 3d. 1937 .. 6 11 . . . - .... 90¼- 91
116¾- 116¾ 117½-117½ 118:1(-120 .... - . ... 120½-121¾
8t. Paul & No. Pnc.6 tt8 - 119 115¾-116¼ 115 - 115¾' 115 - 115 116 - llu¾ 115½-117 . . .. 1
1
t::i::!~~~/8~}::1.:::
= :::: : .:: = ::::
~~~
= ~~ .. :: :: = :::: ::: : = ::: .
·00
=
oo .. ·g0
=
99.
io1 =1oi ··
~~~½=!~~
io2 =104 .. io·i¼=1oi¼ ii;i¾=H;i~
09½- 99~ 99½-100 100 - 100 102½-103 100 - 100 100 - 101½ 100¾-101½ 101¼-102'.!4 102 - 102 102¼-lOt
99¼ 100
Dul. & lllan,- lst . . . 6 ! 00 - 100
09¼-100
Do.Dak.Div,,lst.6 .... - .... IOJ - 100 . . . - ........ - . ..... . . - .... 100 - 100 100 - 100 .... - . ... 101½-101½ 101¾-lOl½l lC.2 - 102
No. Pac.Ter.Co.- lst6 90!J:!-102½ 102 - 102~ 101 -102½ l Otl - 102 102 - 105 103 -105½ 103 - 105 104',(-103~ 104½-106 10~- 106 106 -106}4 106 -106¾
1
-112¼
111
-112
110
112
112
115
115
115¼-115¼
~
lJ
5
11
114½-115
-U
118¼-114
111)4-112¼
116
ll4
!So. Pac. Cal- 1st .... . 6 lll¾-113 112¾-ll3¾
So. Pac., Ariz., 1st . 6 ... . - ..... ... - .... .. . - . ...... - ..... . .. - . ... lOR½-10 ½ 105 - l07 107 - 107¼ 107¾-107X! .. .. - .. .. 108 -108 105 -109
So. Pac. N.lllcx,- lst 6 L05)4- l ~ lOi'¼-108 108~-108½ 107½-107½ 107¼- 108¼ 10 J,4-108)4 106>tj-107¼ 107¾-107¾ 107½-108¼ 107)4-108½ 108~- 109 108¼--108½
Union Pac. - 1st, '9ff . . fjll 2½-1U 113)4-114 113)4-114 118)4-114¼ 114)4-li5¼ 115 -116½ 1 18 - 114¼ 113½-lU 113 -113¾ 118¼-114'A I ll~- ll4)4 114 - 115
1st, 1897 ... . ....... . . 6 112½-113~ 114 - 114~ 113\1:(- 114¾ 113½ -115½ 114¼-115,£ 116)4-117 113)4-115 114 - 114:)1113:).:(- 114 114 - 114 114¼-115 U4~4-lll'i}£
1st, 1898 ... ....... . . . 6 112%-114~ 114:)fr-115 114 )4-114\1-.t 114¼-115¾ 115)4- 117 llfl - 117¼ 113¼ -115½ ll-1}&-115½ ll4¾-115)4 115 -115½ 115;(-115¾ 115¾-116¾
1st, 1899 . . . ... . .. .. . 6 114 - 114 114¾-115¾ .... - .. . . 114¼- l15¾ 115¾-116½ 116¾-1!7 ~ 114)4-116 115½-116 U:;½- l16 116~- 116¾ 117 - 117½ Ll~¾-117¾
. . .... - ... .. .. . - .. .. . . . - .. .. .... - . .. 101 -101 .... - .. .
Land 1r1·ants .. ...... . . '7 .. .. - . .. . . .. . - .. . 104¼-104¾ 100½-100¼ 102 -102 .... Sinkin1rfund . .... ... .8 118 - ll9 118¾-119 114 -115 Ll8J.,i-116½ 117 - 121½ 120 - 120¾ 120 - 121 120~- 121 ... . - . ... 118 - 120 119 -121 119 -llP
, Regil!ltered ..... ... 8 118 - 118)4 118½-118½ lH - 114 115 - 115 119½-120 120 - 120}( 12'.l -120 .. .. - .... 116 - 116 119 - 120 110 -120¼ 118 -119
Collat. T1·ust . . ...... 6 .. . . - . . . 106½-106,¼; ... . - ... ..... - . . . . 106½-1C6¼ ... . - .•. . .. .. - . . •..•.. - .. L05 - 105 . ... - . ..... . . - ... . .... - ...
95 - 95 ... . - .. . . . ... - .... •.. • - . .•... . . - .... . . . . - ... ... .. - . . . . .... - ... ....• - .. .. ll7 -97
Collat.Trust .. . ... . . ii .... - • ..• 95 - 93
1
K. Pac.- lst, 1S9:i.6 1112 - 112½ 109½-109½ 109¼-l!O 110¼- 110¼ 110 - 110 111¾ -l12 112½-112½ . ... - . . .. .. . . - ... . 110¼-110½ 111 -111 ... . - . . .
1st, 1896 ..... .. .... ti 110 - 111 109¾-109:J,4 110¼-110½ LlO - 1117-! t12 - 112 11 0 - 112 110}9-110½ llOlij-111)¾ . . .. - .. . . 111 -111)4[111¾-112¾ 109 -109
Dem'. Div,- AH'd 6 . . .. - .... 114½-115 ll:l½-115; ~ 114¾-1111 112¾-112~ 113¼- 113¼ ll~-118¾ 1157,(-115¼ ,116 -116 116 -116½ 113➔.{-114 ll!s -113¼
1st, COnl!lol.. . . . .. . 6 1011)(-105 104 - 10~ 1041)(-lOO>tj 104~-109½ 106½-110?{ 108 -100 1087'!-:::.09!>!! 109 -109¾ 1109¼-110 109¾-1137,( 110¼'-lll" 111 -112¼
At.Col.& Pac.- 18t .6 1C5¼-106 105 - 106 102 -105 102 -102½ 10~.{-10! 103 - 105 104 - 105½ 103 - 104¾ .104¾-105 105 - 106 l03 - 104 102!):(-103
- .. . •• ·• - ••••. ••• - •• •
At. J.C.& W,- 1 st,6 . . .. - ........ - .. . .... . - . .. . .... - . .. -:.01 -10! .... - . . . .. . . - . . ...•. - .... j . .. • - . . ..
Ore1r.Sh.Line-lst. .6 100¾- 103½ 10J - 101:):( 100¼-102 100½-105½ 105-}s-lOIJ 107 108}.{ 107~-109½ 106 - 107~ 107 - lu8 108 - 110 100¼ ·110½ 109¾-112¾
106 -110 107 -107
-103
LOO
100
98¾100.!>1;-100¼1
100
98
101½
08
9-i - 90
96 - 116
08¼- 08½1 91 - 91
Utah South.- Gcn .. 1 04 - Oi
97 - 99¼ 10:; -110 105 -107½
115 - 97
94:S.t- f/5
98 - 115 .. . .
92!,,- 95
87 - 90 .... - .... 92 - 92
Ext'n, 1st, 1909 .. . , 93 - 94
Mo. Pac.- lst cons ... . 6 i1 12 - 113¾ 112 - 113¾ 1107 - ll H { H0¼-112 107¼-109 108¼ -110 lLO - 112 112¾-113 112 - 113 113 - 113 109;1('-110¾ 109¾-110~
- .. .. 114 -114
3d, 1906 .... .. ... .. 1 115 -117¾ :M.7½-118 117¼-118 118 - 118 116 - l17 117 - 117 117 - 117 117 - 118 117 -117 120 - 120
939;(- 93¾ ... . 'l'rust g,, 191, . ... .1
- . .. . .. . - ....... .
Pac. of Mo.- lst. . . . . ti 102¾-103½ 100½ -101¼ 101¼-101¾ 101¾-102 102 - 102¾ 102}8-102% 102¾- 108
2d, 1~91 .. .. . ... .... 7' 1104 - 104¾ 105¾-105¾ . ... - . ....... - . . . . 108 - 108 ... • - . . . . 105 - 105 105 - 106 . .. - .... 106 - 106 106 - 107 105½-107¼
97~- 98¾ 97¼- 98
- . . . . 97½- 98¾ 97¾- 98
1st Ext., 1938 . . . .. -t .. . . - . . ...... - ... . .. . . - ..... . . . - . .. . . .. .
115 - 116 11 - 118 11 9 - 119 118 - 118 118¼- 118½ 117¾-118¼ ...• - . . .
8t.L.&S.F.- 2d,cl.A6118¼-118 ... . - .. . 117¾-llM 118 - 11
114½-115¾
114½-116
Class "B" . .. . .. .. . .. . 6 ,115¾-118¾ ll6J,i- 117 116 - 117½ 116 - 117½ 116 - 116 1116 - 119½ 11 -119¼ 118 - 118 ll691i-ll8~ ll7~-118
Class "C'• .... .. ·. . . .. •6 1114 -118 116½- U-7½ 117 - 117 116 - 117 114¾-116¾ llo -118 119 - 119~ .... - .... 116¾-ll~lll'i~-ll~ 1147,(-116 114-,.4-115¼
1
108 -1081' •••• - •.• . •..• - . . .
Equlpment . . ... .... .. 7 105¼-105¼ 107 - 137 .... ••eneral mort . . . . . .. . 6 112¼- ll5 114!,s-115¾ 11~-116 115'4-116!,( 115½-117 117 - 118 115 - 115½ 115¼-ll5¼ ••• - . ... 11115 -116~ 115 - lUi 116i.t;-lt6~
General mort . ....... a 1()()¾-102:),( 101¾-lOS- 102!,( -103 102¾-103½ 103¾-104½ 104 - l05½il l023-1!- 102½ lOL~- 102 101 -102¾ 101½-102)4 101¾-1031' 108 -~03-}a
98 - 93 ... .
1st, Trust, 1987 ... .l .... - ... . . . . - .. .. ... - .. . . 97~- 97¼ 97 - 98
1
80.Pac,ofMo.-1.Bt .. 6 100 - 101 101}1;-101~ 101¾ - lOl¾ 101¾-102,t; l{IZ}g-102¾ 102'&- 102,.( . . . .
. .. . 100 - 100 .... - .... . . ..
K. C. & S. W,- 1st .6 . . . . - .... .. . . - .. . . ... . - .. . .. .. . - .. . .. . .. - ....
. .. . 110 - 110 •··· - .. .. 1.07 - 107 107 - lJO 109½-110 1····
Texas & Pac,- bt . .. 6 106 - 114 . . .. Consol. Tr. r'c'pts .6 99 - 104¾ 103}9- 104¾ 102¼ -104 101'4- 1G7 106 - 106)4 .... - .......•
Inc.& I. ,ir., tr.1·ec . 7 47½- 51½ !8¾- 50 42 - 48 41 - 50:J;f 44 - 48½ 48½- 44½ .. . .
lst,RloGr.D,tr.rec.6 65½- 70¼ 67¼- 70¼ 05 - 68½ 66 - 78½ 69¼- 72¾ . .. . - ... .. .. .
,,
1\1½- 01½ .... ,
t2½ - 02½ 1 59 - 04
60 - til
Gen.M.&Ter,tr.1·c.~ GO - 62
89 - 90¼
92½- 9-1½ 94½- 95¾ OH(- 95½ 93¼- Ot¾ 93¼- 94¾ 93½- 95
0-2 - 93
. . .. . . .. - . . . . . . . .
1st, 1rold. 2000 ..... a .... - . . . .
4J'. - ~ 40¼- 48¾ 88 - 421' 37 - 41)
3QJ.(- 41¾ 88)4- 40¼ 39>ti- 44½ 43 - 45
2d, g, 9 inc., 2000 .. . ~ .... - ...... . - . .. . ... ~
Pennsylvania RR.Penn. Co.-lst, cp . .. 4½ 105½-107 106).(-106¾ 101!!);(-107¾ 1077,(-108 109 -109 109½- 100¾ 109 - 109 108 -109 108 - 109 108 -109¼" 108?.(- 100~ 108¼-109~
~ea-littered ... .. . .. . 4 72 100¾-105½ 106 =106 10~~=106½ lOi\(-107½ 107½=107¾ 108 - 1087.l!l 10~ =1?7 106¼=106¼ 105~1063( 106 =106;(1107 =108 107 =103
1
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-
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.
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. . . . .
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.
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.. .
1
I . - ........ - .... ,... - ... ...
- .... .... - ....
--··1···· - ....
::::::~~~~~t=!::.;
i sa~=140··[141
~d•• 1912 . .. ...... .. . , 1136¼-137 1ss
3d., 1912 . . .. .. ... .... '7 187 - 137 .. ..
Clev.& P.-Conl!l.11,fd.1 . ... - . .. 126
4th, 1892 ....... . .. . . . ti ll06~-l06¾1• ...
St. L. V .& T. H.-ht. 1 112 -118 . . . .
~d, 1ru., 1898 ....... 7 ... - . . . . ....
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
-iii¾ !!~~-~!!½ll42?,(=142~ i42½-142~ 1i42¾~142¾ ~!~-~:¼ i42¼-lt2}( it3½-1~3½ ji42¾-148¼[i«
-ll>S ms -138¼ 138¾-138½[•··· - ... . 1140¼-141 ..•• - .... uo -1-10
- ........ - .. . . 131¾-131½ 185 - 185 . ... - . . ...• •• - . ... . . •• - ....
-128 12il¼- 12t!¾ 126¼- 129 125 - 126½ 126 -128 .... - ... 128¼-128½
- . . . . 10~-106¾1106~- 107½1107%-108¼ .... - . . .. . .•• - .. . . 107!,(-107~
. . . 114 - 114 1!4¼-115 117 -117 117 - 117 115 -116 •.•. - . . . .
, . ... . .. . - . .. 108 -108 108 - 108 106¾-1063' 1069(-l~ .•. - . ..
1
'
~
u1 -141
.••• . .• - •.. . 135 -135
128~-128¾ 120¼-}29¾
..• - . .. . 106¾-106¾
. .. - ... 114¾-114¾
. ....... - . . . .
.. ..
- 1«.. i4~ -1~, ..
.•. - .... t42¼-142¼
. . .. - ... .. ... - ••••
128 - 128 126~126¼
107¾-107¾1107¾-107!1(
. . . - .... 117¾-118
.... - ........ - - .. .
BAIL.ROAD,,,. YONJJS.~
1888-Conttnued.
,J.ANU.ARY F:SBR'RY.
BONDS.
MARCH .
----
A PRIL.
M.A.Y.
JUNE.
- - - - --
JULY.
AUGUST. S1i1PT'n.1rn. OCTOBBR.j NOV'B.lllll.
DEC'·BIIR.
---- ----
Low.High Low. High L ow. Bigb Low.High Low.High Low.High Low .High Low .High Low.High Low.High Low.High Low.High
--------·-
·- - - - · - - - - - - - - ·- - - - - - - - -
Peo. Dec.& Ev.- let .... 6 106
2d, 192'7 .............. . .r; 72
Evansv. Div .... ....... 6104
Peorla&Pek.Un.- lat .6 ll2
2d mort., 1921 ..... 4}9 78
Phil.& Read. - !ld ser . r; 74
Incomemort., '96 .... '7 ....
Gen. mort., 19f;S ..... 4 ....
1st pref. Inc., t9r;S . .r; ....
~d pref. inc. , 19r;S . ... ~ . . . .
3d pref, inc., 19r;M .. .. r; . ...
3d pref, inc,, conv .... r; ....
Defer1·ed income ...... 6 ... .
Plttsb. Cl. & Tol.- l11t .6 ....
:::::ttn~'!'-s~~;!t!
-109
- 75
-106
- 112
- 78
- 76¾
.... - . .. .. . . . - ... . 106 - 109
743,»- 75
71¼- 74
71 - 75¾
103 -105 102 -108 102¼-104
- .... no -110
76¾- 76¼ .. . • - . .. . 75 - 75
- .... ~ - 85¾ .:. -
1011 -110
69 - 72
105 - 107
....
108¾-112
69¼- 70
102 - 102
- ... . ... - ....
71 - 72¼ 70¼- 73
102 - 103 10-! - 10-!
- ........ - ....
- .. .. 70 - 70 70 - 70
.. .. .. .. - .. .. . .. . - .. ..
75 - 75
82 - 82
.... -
s" s•u = 8·9·;;,
7'I
-
T4
... . .... - . . ..
·~CK'~·u"'=
---
711
o
-
-
77.
1···· - ........ - - .... - ...... - ....
77 ..
7~~ ·;-;, -
.
- ---
114 - 114
72¾- 73¼
105 -106¾
110½-110¾
69 - 69
- 88¾
88 - 90)4
72 - 77½
59½- 67
.... - ....
20 - 20
11(%--110¾
89 - 90½
74¾- 77~
60 - 68¾
62 - 62
.... 111 -111
·;,i·¼= 71¼ 70½- 75
72 - 74¼ 78 - 78
73½=
·75¾=
·;,a~=
75¾ 74¼- 75½ 74 Rich. & All.- Tr. rec .. 7 55 - 50¼ 5o - 56¾ 58 - M¼ 5 1 - 55 52¼- 55¾ 54 - 59¼ 55 - 58~.( 56 - 62 56~- 60 59¾Stamped ...................... - ........ - . 58 - 53 58¼- 68¾ .... = ·.·.·.. 1,. 58··· - 58 .... 5$¼- ~¼ .... Drexel , M. & Co., rec. . .. . - . ... . . . - .. . . . . .
- .. . . .. .. - .. .. 60 -
2d mort. Drexel rec... . . .. . - . . .. . .. - . .. . .. ..
-
- 114
- 77¼
-107½
- 110½
- 71
s·9·~1 · ;;8 = ~0· ·· .s..s·
86)4- 89¼ 88½- 89:k;
.. . . .. . . - . . . . 69½- 75¾ 7411(- 76!14
59½- 64¾ 64¾- 67½
66¾- 67
- ....... - ........ - . . . . 21 - 25 22½- 22¾
- .... 107¾-l<m{ .... - ....
-
·- - -
.... - .. .. 114
78¾- 76¾ 75
104 - 105 105
110¼- llOxil llO
.... - . ... 70
.. .. - . . .. .. .
108
65
104
114
69
- lOi
- 66
- 105~
- 114
- 60
eB¾- 88¾ SS)4-90¼
75¼ 72¾=
89 - 91¼
75½- 78¾
60 - 62¼
5\i¾-
~
76 .. : =~
62½ • ...
........ 61
58 - 60
- .. .. 26¼- 27
57¼- 58'1
24¼- 25¼
116
Rtc:be~t:r:~~..~-.~.~~~ :·: !~~ =!~8½1~~::'=1~~~ ~~~½=1~~ •. ~~~. =1~~~ ~1::'-115½ 115¼-116 113~- 114 114 -115 1!!~=1: 115 - 115!>s 115¾-116~
-m
'\Deb. ex. cp ......... .. .. 82 - 86 86 - ~ 88 - 88 82¼- 85 88½- 85 86 - 86 94½- 95
- .... 93¼, 96
94 - 95 .... 93 - 98
Con. M,, a-old, 1936 .r; ... - .... 82~- 82½ 82 - 88 80 - ~8½ 88 - ~4 88½- 84% 85 - 88¼ 87½- 89¾ 88 - 90~ 87 - 89 85 - 87¼ 86 - 86¾
Rich,& West Pt, Ter.6 88 - 91 86¼- 87~ 86 - 88 85 - 88¾ 88¾- 00¾ 88 - 90¼ 91 - 98¼ 93 - u,o, g3 - 95'-' 00 - 00½ 98 - 99¼ 96¼- 98
Roch.&Pitt11b.- 1Bt .. . 6 .... - .... 118 - 118 116 - 116
= ....... 1··1·6· --11·6... 111146 =111166~• 1·1··4·,,1=11·4·: ; ·.·.·..· = ... . · 1· ·1 ·1· --11·1·~~
Consol., 1st ............ 6 118 - 115¼ 114¾-115¾ 115 - 115 1115 - 117 117¼-117¾ 115 - 116¼ .... .,.
74 •>4
7•
RomeW.& Oar.- l11t ... , 107 - 107 109 - 109 108¼-108½ 109 -1011¾ 110,li-110¾ .... - .... 1108 - 108¾ l09 - 109 109¾- 109¼ 109½-110 111).,i· lll½ .... - ....
Con., 1st, extended ... ~ 101¾-103 102½-108¼ 108 - 104¼ 100¾-104¾ 103 - 105~ 106 -108¾ 107½-108 107 -108 107 - 108 lo.t.l,ii- 105¾ 105 - 106¾ 100¾- 107¾
St. Jos.&G'd 181.- ht .6 ! 98 -101 100 -101¼ 100 -lUl½ 100 - 108¼ 101¼- 103!¾ 102 -108 108 - 104¼ 104¼-105 105 - 106½ 106¼-107¼ 108¼- 10-!~ 108¼-10~¼
~d, income .. ...... .. ... :; 41 - 41 .... - : ... .... - ........ - .... 40 - 40
40 - 4.0
42½- 48
46 - 52
51¼- 52
- ... ·1 49 - 49
St. L. Alt.& T.H.- lst .7 11S - 118 112¾ 11?½ .... - .... 118¼- 114 114¾-114¾ .. .. - .... 112 -112 11-1 -l14 114. - 114 114 - 114 114 -114 117 - 117
~d, pret .. ............... .7 109 - 110¾ 108 - Iu9 109 - 109 109 -109¼ ... - .... 10s - 110 .... - .... 108 -108 10s - 109 110 -110 110 - no 107%-108½
~d, income .............. , 108 - 103¼ 104 -104¼ 104~-104½ 105 - 105
- . ... 108 -103 .... - ........ - .... 108 - 108 105 -105 105 - 105
Dividend bonds .. . . .. .6 88 - 88 ... . - . ... 85 - 88
40 - 40
89 - 40!}.1 40 - 40½ 39¾- 42¾ 40¼- 41¼ 41 - 41
40 - 40
Belle. & So. IIl.- lst.8 .. .. - . ... 119 -119 .... - ..... ... - ... 116 -116
Bell. & Ca1·on .-lat . . 6 110 - 110 109 - 109½ 110 -111¾ 111%--112 112 -118 U0¾-110¼ 110 - 111
- .... 110 - 110
~t.L.Ark.&Tex.- l1n.6 98 -104 102 -lo:4¾ 99¾-102¾ 100 -101¾ 98 - 100 9'3¼- 99¾ 98 - 100 9$¼- 99.¾ 98 - 101
91 - 99¾ 87¾- 98
89 - 9S
2d, t 936 . ..... ......... .6 40¼- 48¾ 44¼:- 47¾ S8 - 41 88 - 41 39¾- 40~ 8(%- S8 37 - 38).,i 87 - 39 36 - 42¾ 82 - 41% 81¾- 34 31½- 36¼
St. Louis & Cb.- lst .. 6 .... - ... . 88 - !JO
O - 85
86¼- 87½ 84 - 85 ..• - . . . .
35 - 85 . ... - ... 40 - 45
St. L.& Iron Mt.- lllt .. ,- 109¼-111¼ 108 - 108 106¼- 108 107 - 108½ 108¾-109½ 109½- 110 110¾-110½ 107¾-108 lOi~-108½ 108 -108¼ HS - 108% ~08 -109
~d, 189'7 ....... .. ..... '7 109 - 112 109 - UO 106¾-109¼ 105¾-108 105¼- 106¾ 105 - 1 6 106 -109½ 109¾-111¼ 108¼-110 110¾- 110½ 106 -107½ 106¾-107
Arkansas Branch .... '7 1097,(-110 109¾-110 109¼-109¾ 107 -107 107¼-107¼ 104¾-105~ 105¼-107 107 -Hl8 108¼- 108½ 108¾-108½ 108 - 108Ji 105 - lOb
Cairo &Fulton- l•t .. '7 105 -105¼ 104 - 105 104 -104% 103%-104¼ 104¾- 104¾ 104½- 105 102¾-105 104 -104¾ 108 - 104 104 - 104~~ 104}(-105 104 -lOtt
Cairo Ark. & Texas . 7 108¼-110 111 -111 101) - 110 106 - 106¾ 105½-lOS 105 -!05 105 -107 107 -107¾ 107¼- 107¼ 107½-108 107}6'-10 ¼ 104 -105
Gen. consol. & I. fl .... ~ 89 - 92¾ 88 - 00¾ 82¾- 87 80 - 86 81 - 86 80 - 88½ 84 - 67 !!5 - 88 86 - 87 84¾- 89½ 86 - &7 84½- 87 '
St. Paul & Dul.- lst .. ~ 110¼-110¼ ... - .... 110 - 110
- ... . .... 2d, 191'7 ..... .... ...... :; .... - ........ - .... ... .
- ... 1047,(-104¾
~t.P.M.&lU - htlY09 .7 112 - 112¼ 112½-ll:3¾ ... - .... 114 - 114 114½-114½ 116 - 117 .... - .... 118¼-114¾ 119 - 119 116 - 118
2d mortg,, 1909 ...... 6 117 - 118¼ 118~-118½ 11~11~ 116 - 116~ ... - ... 118½-120 120 -120¾ 120¼-120½ 120¼-120¾ 117 - 118 117 - 117½ 120 - 120
Dakota Exten11ion .. .. 6 116 - 120 120 - 120¾ 12{)¾-121¾ 120¼- 120½ 115 - 117 116 - ll6¾ 116¼-118 .... - .... 118 - 118 118½-118¾ ll5¼- 118¾ 118 - 118½
1st, consol., coup .... 6 114½-116 lU½-116¾ 114 -114 114 - 116 116 - 117¼ 120 - 120 117¼-117½ .... - ... . 117 -117½ 118¼-119 118½ 119½ 118 - 118¾
·Reduced to . .. . ..... 4½ 96¾- 97 00½- 97 96¼- 96½ 96¾- 96½ 96!)(- 98 97½- 9 ½ 96½- 96¾ 96!4- ll6½ 96¾- 9i¾ 97 - 97¼ !JS¼- 98¾ 98¾- !:U¾
Collat. t1·ust, 1S9S .,.~ . .. . - .. .. ... ...... .. - .. ...... - ........ - ........ - ........ - ........ - ........ - .. .. 96 - 97¼
Minn. Union , lat ..... 6 . . - . ..... .. - .... 110¾-lll
Montana Ext .• I st ... 4 82½- 8:3~~ 82 - 88¼ so - 82¼ 81 - 84½ 84½- fd¾ 84 - 86¾ 811¾- 87½ 86¾- 87¼ 86¾- 87½ 86~- 87;~ 86¾- 87½ 88 - 8-1
Montano. Cent., 1st. 6 .. .. - .... 111 - 111 112½-118
- .. .. 111¼-111½ .... - ... lll¾- 111¾ .... SanA.&Ar.P. ,1916 .. 6 .... 90 - 90
88 -88
91 -91 .... 1926 .. ............... . .. . 6 86 - 86 90 - 90 80 - 88 88 - 92¾ 89 - 92 91 - Ill Sil~- 90½ 90 - 93¼ 91 - 93 89 - 93 90 - 9 1¾ 90 - 92¼
Scioto Valley- 1st con.'7 .... *66 - Otl .... - .... *69 - 70 *65 - 65 .... - ........ - .. ..
Shenandoah Vo.1,- lllt .7 90 - 91
92 - 92¼ .... - .... 92¼- 95 .... .... 1 92 - 95
93 .. 95
9 1 - 94¼ 93 - 93
89½- 90
Gen. mo1•t,, tl', r ec .. . 6 84½- 86¾ 84 - 86 80 - 8S¾ 29 - 86 31 - 83 80 - 82 31 - 33¾ 33¾- 35,4 34¾- 35'.¼ ll3 - 86¾ 31 - 32 20½- 30
~outh Carolina-l ■ t .... 6 97 -102 101 -102¾ 101 - 102½ 100 - 101:¾ 102 - 102 100½-102¼ 102¾-l~-!¾ 10! - 105½ 1104 - 104½ 100¼-102}.., :9.¾- 1~1¼ 97½-1~
2d, 1931 ......... ..... .. ti 69 - 76 78 - 85 77¾- 79¾ 78 - 83 80 - 87 82 - 86 88 - 83¼ .... - .. . . 82 - 88 .... - . . .. 17½- ,A½ 48 - ,ti
Incomes . .......... ... . .6 15 - 18,. 17 - 18 .... - ... . 18 - 16 15¼- 15½ .... - . . 15 - 15~~ 15¾- 16¼ 15¼- 16~ 16¾- 19 16 - 10
10 - 15
Tenn,C.& 1.-Tenn. D.6 .... 84 - 87
80 - 80 .... 85 - 86½; 85½- 87
84¼- 87
87 - 89
88 - &9
Bir. Div., 1st
.... . 6 83 - 84 84 - 87 82¼- 86 82 - E- 5 85 - 87¼ 85½- 87¼ 65 - 86¾ 87 - 87¾ 87 - !.28 Ba - 90¼ 00¾- \12½ 90!,{- 93
Tex. c.- l11t,B.f,, 1909., .. .. 55 - 55
50 - W .... 50 - 50
1st, 1911 ............... '7 .... - .. .. 45 - 45 45 - 45
- .... 50 - W .... Tex.&N.O.-lst, 190:;.1114 -lH
- .... 116 - 116
- .... 117 - 117
Sabine Div., 1st ...... 6 102 - 102 102 -102 .... - .... 1001(- 100¾ JOL - 102 102 - 102 104 - 10-!
- .... 10:3 - 108 108½-103% 10/l½- 103½ 108 - 108
- .... 104½-104½ 105¾- 105¼ .... Third Ave. (N, Y.) ..... '7 .... - .... 102~-102¾ ... - .. . 101 lUl¼ 101¾- 101¾ ... Toi. A. A. & C., Un "1.6 . ... 9i;l4- lOS
97¾-104
119 - 102 100%- 101¾ 99½- 102 101 - 102 101½-103
98¾-100
9$¾- 911
Tol.A.A.&N.M.,ht .0 !!5 - W
96¼- 99½ 117¼- 99
105 - 106½ 105 - 106 106 - 106¼ 105 -106 106 -106
Tol.A.A.&G.T.- lst .. 6 101 -102 10-1 - 105 101 - 107 102½-102~ 106 - 107½ .. .. 98½-100
99¼- 100
09}(-100
99 -102 101 - 102 102 -108¼
Toi.& Oblo Cent.- lst .r; 98 - 97¾ 95¾- 97½ 95¾- 97 96¾- 98 98½"100 911¾- 101
Tol.P.&W.- lstn·.ct .. '7 ... - .. .. .... - ... 90 - 92 92¾- \12¾ 91 - 91 91 - 91 91 - 91 99),G- 9!il-fl
1st, 11old, 1917
.... 4 .. ..
77 - 78
79 - 79
76 - 77
7fl½- 77¼
Tol.St.L.&K.C,- ht . 6 Ill¼ - 98¾ 92½- 94 93 - 93 98¼- 94 93 - &4 91 - !JS½ 9-! - 94 \13½- 94 92¼- PS¼ 98½- 95 94¾- 95¾ 90½- 93
Virainia Midln.ndGen. mort. , 1936 .. .. r; 7tJ - so 7~- 82 78 - 82 79 - 82 78 - 79¼ 80 - 82 8l¼- 83¾ 82¾- 88¾ 84 - 84 88½- 85 80 - 82 80 - 86
Valley Ry. ot O.-Con .6 l05~-105'4 .... - .... 100 -100
- ........ - .... 105½-105¼ 105 - 105½ 104½-105
Wah. !it. Louis & Pac.[
Gen. mm·t., tr. rec ... 6 45 - 47
- .... 41 - 41
87 - 48½ 41 - 43
So - 35
40 - 40¾ 40¾- 4~ 40 - 43½ .... 85 - 87
Chlcaaro Div .......... .. r; 98 - 98 97 - 98¾ 97¾- 98
Tru~t rece~~u .... .... ... 88 - 88 I 85 - 87¾ 84 - 88¾ 84¾- 86
84¾- 88½ 88 - 89½ 89 - 110
88¾- 891ti 89 - 91½ 86¼- 89½; Stl - 88¼
Detroit DivH1on .... . ff 102 - 106¼ 108 - 108 :100 - 109 108,(-108¾ .... - .... 109¾- 111¾ .... T1·ust receipts ......... .. . .
- .... 108 - 109 108%-109 104 -lOd¼ 105 -109 110 -110¼ .. .. Wab'111a-Mort,.1909.'7 89 - 90 84 - 90 1 •. •• 84 - 84
Trust receipt& .. . .. . .. . .. 84 - 84
- . .. . 87 - 87 .. .. - . .. . 86 - 86
85 - 85
Toi.& W,-ht, ext'd .7 107¼-109 108¼-109 107¼-109 107 -107¾
- .... 110¼-110¼ ... - .... 112 -112 .... - .... 111¾-112½ 113½-113½ .•. Tru11treceipt11 ....... . .... - ... . ... - . .. , .. .. - .. . 90 - 91 90 - Q8
- ... . 94 - 95
92¼- 0-Z½ 91¼- 92
94 - 94
92 - 92
87 - '87
Wah. St. L. & Pac,I
111 -111
- ........ - .. .. 111 -111
St. Louis Div ......... 7 l0~-108¾ 108¾- 109 109 -10\1 107~-107¾ llO -110
- . . . . 90 - 00
90 - 93
Ill½- 92
91¼-- 93½ 92 - 92 .. . . Trust receipt& ...... ... .
- . .. . 85 - 85
91 - 91
- .. .. 88 - 88 . . . . 2d, extended .... ..... . , 88 =00 90 =
- .. .. 95 - 95 .. . . - . . . t!5¼- 85¾ 136%- 87
84 - 84
86 - 89
89 - 00
Truitt receipts ...... .. ..
90¼- 90½ 85 - 90
84 - ~
Equipment bonds ... , ... .
_ 85 .... = ::::[. ~~
= :::: ::::
= .. ·::: ·
<:on ■ ., conv ...... . .. 7 88
15. = .. .
~5
Tru ■ t receipts .. .... ... .
- .... 84~- 84¾184¾- 8411; 84 - 84% 84¼- 84½ 83 - 88
85¾- 69¼[86¾- 88185 - 86
87 - 88
-107¾ 105¼- 106 l 11 -111 . .. . - .. . . .. .. - .... 111)4-111),(1. ... - ... : 111 -Wijg 113¼-ll~ 110¼-110¼
Gt. Weatern-l ■t ..... ., .. ..
=1w ..
Tru11t receipt ■ ........ ... .
......•.. - .... . - . . .. .. .. - . .. . 89¼- 0s 01 - 91 . . . . - .. . 02 - 92¾ 91½- 01'11 91.)r tl4 • .. • _ • • • • • • • - •.••
82 - ili .... - ........ - .... 00-90
87-88 ... - .... 9a-93 .... - ....... - ... .
~ mort., 1893 .. .. . '7 88 - 90
00 - 90
85 - 85
I
1
I.... - .. ..
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Federal Reserve Bank of St. Louis
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RAILROAD lJONDS.
64
1888-(;oncluded.
JANUARY FEBR'RY.
MARCH.
APRIL.
JUNE.
MAY.
BO OS.
JULY.
AUGUST. SEPT'BER. ,OCTOBER. NOV'BElt. DEC'Bl<:R.
- - - - - - · - - · - - - Low.High Low.High Low .High Low .High L ow.Iligh Low.High Low.High Low.High Low.High Low.High Low.High Low.High
Wabash-Gt. West'n!ld trust receipts .. . ... .... - ....
Quincy & Toi.-lst ... 1 91 - 95
Trust receipts......... .... Ill. & So. Iowa, lst.6 92 - 92
St.L.K.C.&N.-RI.E.1111 -112¾ lll½-111½
~t. Chas. Bridge .... 6 . .. . - .... 106 -106
North. Mo.- lst ...... ') lll¾-113¾ 114½-115½
W.Va.C.&Pitts.-ht. 6 .... W.N.Y. &Penn.- lst.~ . ... - ....... - ....
2d M., g., 1921 ... .3-~ .... - ........ - ....
W~s~r:::J..:::.::;~~~:!
77 - i7
.... -
85 - 85
112 - 112
109 -100 109 -109
- .... 103 -104
114 -114 ll4½-115 116½-116~~
- .... 105¾-106½
....
- .... 98½- 90
.... - .... 38 - 39¾ 35½- 40
85 - 85
l(){l½-111½
101½-105
lltl½-116½
.... 98 - 90~
... . - .. .
!¼ - 85
86 - 88
90 - 90
88½- 90½ 87½- 88
- ... . 79 - 79
. ... - . . . . 87 - 87
112 -112 112 - 113
105 -105 ... . .... - .... 115 -115
.9in;1cii¼ io~=1cii¼ iOO¾=lOl~ io·i½=H>S· ·l!~~ =!~~¾ io~=104% l02¼=l~¾ jio2¾=103¼ io3 =10~ ios =103%
102¼-102½ 102¾--103¼ 102;1,S-103¾ 1()2¾-103½
.. .. - .... 116½-116½ 119½-120 1119½-120
.... -
98¾ ·0-; =97½ ::::
= .:::
85 - 85
l09 - 109 110 - 111 111½- lll½ 112 -112
- .... 102 -t04 104 - 104
115½-115½ 116¾-116¾ .... - . . . . 116 -117
91 - ll4
93¼- 94~ 93¾- Oi-nj 93¾· 94
93¾- 94¾ 94¼,- 9'n,(
37¾- 38½ 38¾- 39¼ 39½- 4(% 38½- 30¾ 38 - 38¾ 87¼- 3£!1,!
Registered ............. 4 ~-101 lOQ¾-101½ 100¾-!0l¾ 101¾-103 103 -103½ 101%-10-1
West. Un. Tel .-Coup . . ,- ... . - . .. .. ... - .... 1... - .... ;IB -118 115 - 111\ ..• - ..
Registered ............ , 117 -1171···· - .... 115½-115½1 ... . - .. ..... - • . 117 -117
J:!~~:~~~:~~-"i"~~.: 1·w½=
84 - 87!,(
····1--·· - ........ - ....
·u6 = 9~ · 9,;¼=100¾1·9s½= 99¼ ·99
- ...
103}2=104¾
103½-104¼
114 -115
115 -115
=100¾ ·00½=100¼ ioo¾=102~ 1~~¾=1~6:: l:¼=1~!½
iM¼=l05 ..
102½-105
114¾-ll~
. ... - ... .
1:½~~~!:
1889.
.JANUARY FEBR'RY.
MARCH.
APRIL.
BONDS.
----------
MAY.
JUNE.
JOLY.
-
AUGUST. SEPT'BER. OCTOBER. NOV'.BEH.
-·- ----
----
IJEC'.BER.
-----
Low.High Low.High Low.High Low.Hi?h Low.High Low.Hiirh Low.Hlirh Low.High Low.High Low.High Low.High Low.High
Am."\Vat. W. Co .• ~ 1. fi 106}1-l O6 ¾ 106¼-106¼ 106¾ - l O7
.. - ....... - .... 110 -110 109 -109 109 -109 ... . - ....... - ........ _ ..... •• _ .... .
1st consol., gold 5s. .. ••· • - ••·· ···· - •·· · ·· - .. .. .. - ·· • · .. · · - · · · · · · · • - · ·· · 99¾- 99¾ 99¾- 09¾ .... - .... 100,½-100¼ .... - ... . ... _ ... .
Atl. & Danv. - lst ...... 6 .... - ........ - ....... . - .... 03 - 94¼ 94~- 96¾ 98}4- 98½ 98 - 98½ 98%- 09¼ 98¼- 99% 95½- 97¾ 97 - 97¾ 9 7 _ 98½
Atlantic & Pac.- lst ... 4 78½- 81¼ 80½- 83 79½- 83
79¾- 031; 77 - 80¾ 76i,ji- 80½ 74¼- 77¾ 71¾- 74% 73 - 74¾ GS½- 72½ 72½- 77% 74 _ 75¼
Income . . .. . .. ..... ..... 6 20 . 22¾ 20%- 22¾ 17¾- 21:ki 17 - 19½ 17 - 19½ 17'½- 19½ 16 - 18¼ 15¾- 17
16 - 17
13 - 15¼ 13 - 15¾ 13 _ U½
Aa.T. &S. F.-1920, 4½ ···· - · ·· · ···· - ···· ···· - ···· .... .. 88 - 88 .. .. - •• ···· - .... ... - ..•. .... - •••..... - •...•..• - ........ _ ... .
Chic. s. F. & Cal.1st.a 97½-100
99 -lOi:l
99½-100
97½- 97½ 97 -100 . ... - .. .. .. .. - ........ - ...... .. - ....... 86 - 86
85 _ 85½
GulfCol.&S.F.~lsr,,- 106½-115½ 112½-116 10!)¾-114¾ 108 -109¾ 109½-112% 111%-114¼ 105½-109½ 100)4-105½ 103 -106 101 -107¼ 108 -116 lli _116¼
Gold .. .. ......... .. .... 6 70¼- 87½ 79 - 83
78 - 81¾ 70 - 73½ 72 - 76¼ 75 - 77¾ 69¼- 75
64 - 68¾ 67 - 72
62 - 68
68¾- 78% 74 _ 76ll,(
Bait. &O.-1 8 t, P.Br .. ti 118¼-118¼ 119 -119 ... . - ........ - ....... - . ... 121½-121 ½ 121 -121¾ . ... ·· .... 120½-120½ 119½-122 .. .. 119¾-120¾
Gold, 1925, coup ..... a 108¼-lll 107 -110¾ 107 -109½ lOS¼-110½ 108 -108 110 -110!1,( 109½-109¾ 107 -109 107 - 107¼ 107¼-108¼ 107 -108¾ 108½-110
Gold, 1925, 1.•eg .... .. 5 .... - .... 104¾-105 105 -105
- ...... .. - .... 107½-107½ 106½-106½ .... - ........ - ... 106¼-106¾ .... _ ....... _ ... .
Beech C1.·eek.-lst, ll°· -4 83%- 85½ 85 - 90
i9 - 91½ 90 - 01
91½- 93¼ 91 ~ 92
89 - ·90 .... - .. .. 89¾- 89¼ 89¾- 90 .... - ..•. 89 _ 89¾
Bos. Uu.Gas-Tr.ce1·.sf.a • •• - .. • • • •.. - ...... · · - · · · · · .. - · .. · · · · - · .. · · · · · - · · .. · .. · - · ·· 94¾- 94¾ 95¼- 95¼ • .. · - • • •· 93 - 94
93 - 93
Bost. H.T. &Wes.deb .a 98 -100
99¾-102¼ 98½- 99
91l -100 100 -100 100 -100½ 101 -101½ 102 - 102 ... 97 - 99
- ... 98 _ 99½
Buff. R. & P.- Geu ..... 5 .... - ....... - .. . . 97¾- 977/4 97¾- 98½ 9&¼- 99¾ 99½- 99½ 99¾-100 100½-102 100 -100
09 - 99
... - ...... .. _ .•. .
Roch. & Pitts., lst . . 6 .... - ... . .... - .... 116 -116
.. - ... 120 -120 .... - .. 119¾-121 .... - ... .. ... .. . . - .... 119 -110 .... _ ... .
Consol., 1st .......... 6 113 -113¼ 115 - 116 116½-116¼ 115 -117 116 -117
... - .. .. 116%-116½ 117 -117 119 -119 117¾-117¾ ll7 -119 .... _ .. .
B'klynEl.-1 t,1924 .. 6 108¼-110¾ lOO!J;(-110¾ 109¼·110½ 107;Jf.-110¼ 110 - 110½ 110 -112 112 -112½ lll½-112½ 111¾- 112½ 109 -110½ llQ¾-112 lll¾-ll2(
2d mo1·t., 1911> ... . 3.5 87¾- 87¾ 88 - 88
89 - 89
89 - 90
90 - 90½ Ill - 92 .... - .... 86½- 87
.. - ... . 89 - 89½ .... - ........ _ ... .
Union El.-lst,193,- .6 106 -106¾ 106½-107 106¾-106% 106¾-108½ 105½-106 105 -105~ 105¼-105¾ 105½-105¾ 106 -108 107½-109½ 106¾-107¾ 107 -l08¼
BUJ.•. c. R. & No.-lst . . ~ 9~ - 99¾ 97½-100
96 - 97½ 95½- 99¼ 99¼-104½ 99 -102
99 -100
99 - W O 99 -100¼ 99 -100
99 -100¼ 95 _ 06¾
,cons. 1st & col. ti• .... 5 .... - ... . .. . - .. .. 79 - 83
80 - 80
82½- 93¾ .. . . - .. . 87 - 87 .... - . . .. 87¾- 88½ ••• - .... 87 - 95 .... _ • •••
C.R.I.F.&N.,lst ...... ti
- ........ - ........ - ........ - ....
- ... 96 - 96 .... - .... 98 - 98 .... .... - ....... - .. . ..... - . . . .
Canada So.-1st, gn ... 5 106½-108 107¼- 108½. 108 -109¾ 1()8¼-110½ 10!)¾-112½ 110¾-112¼ 107%-109 108¾-109¾ 108½-109¾ 108 -108¾ 108½-100¾ 109 -110½
~d mo1.•t . ....... ,. .. ...... ~ 93¼- 96
95½- 97¾ 93¾- 94½ 94
96½ 06½-100
99 - lUO
98½- 90½ 98i-1- 99½ 96¼- 97½ 95¾- 96¾ 95¾- 97
06¾- 97¾
Cent. o. Reor.-lst ... 4½ .... - ... . .. . - .... 102½-102½ 103¼-103¾ 109¾-104 103¼;-!03½ .... - .... 103½-103½ . ... - ........ - .... 102 -102 .... _ ... .
Cent. RR. & B., Ga .. a 99½-101 100%-101¾ 101¼-101~ 101%-102½ 102½-103 lOOJ.t;-101¾ 101 -102 100¾- 101 101½-101½ 102 -102 .... - .... .... _ ... .
Sav.&W.,l1,1tcou.,g,5 •··· - •··· •··· - ... ..... - •·· · ···· - .... •··· - .... ···· - ... .
- .... 104 - 104 .... - ........ - .... 99 - 99 ... . _ ... .
Oent.otN.J.-lst,1890 .1 106 - 106:½ 103 - 103¾ 103¼-103½ 103~-103% 103%-104½ 104¾-105 104¾-104% 101)4-101¾ 10~¼-101¾ 101½-102¼ 102 -102¼ 102¼-102¼
Consol., 1899 . ... ... .. ,- 120 -121 122 -122 121½-121½ 120 -121 1121 -12'2½ l23½-124n 122½-122½ 121½-121½ 122 -123 121¼- 121¾ 120¾-120¾ 122 -122
Conv., 1902 . ......... ,- 125 -125 .... - ....... - .... 1128¼-128¼ .... - ... . 12i½-127½ .... - . ....... - . ... 128 -128 128 -128 .... - ........ _ ... .
g::~~tbi~:.,..0~:::::::
i~1io .. 108¾-lio··
!:
=!~
li~o
=1i2½ ii~¼=li5¼ i~~½=li5¾ ii2¼~li8½
~~= =~~~¾ 1i2),i=1i3¾ ii2
=1i~·· iiii¾=liS¾ ii23-11=1is¾
Registered .
. ... .. 5 106¼- 109¾ 108%-109¾ 107!)4-109¾ 108¾-lll 110½-118¼ 113 -113¼ 111 -113¼ 112½-113¼ lll½-113¼ lll½-112½ 111½-112¼ lll¼-ll2½
Leh.&W.B.-Assent 7 lUi½-119 117¾-119 117 -117 1116½-120 119½-120½ 11814 - 119 117 -119¾ 1~7 -118 115½-116½/15¾-116½ 116 -117½ 114¾-115
llloi·tllaare, 1912 .... 5
.... - ........ - ....... - ..... ... - .... 103 -105 106¼-107¾ 107 -107 .. . - .... 106 -107 102½-102½ 102½-103
Am. Dock & Imp ...... ~ 108 -110 100½-110¾ 108¾-109¾ lOll -111 lll½-113 112¼-113 112 -113 112 -112 .... - .... 112 -112 110 -110½ 109!)4-llO¾
Cent. PaciticGold, 189~ ............. 6 112½-113 113 -113¾ .... - ... . 115 -115 115\ki-lUJJ:1 1111¾-118¾ 114¾-115½ 115 -115 113½-113½ 113½-114 ....
. ... 111½-113
Gold, 1896 ......... .. 6 . ... - .. . 113 - 113¼ 113½-114 115 -11::i 115¾-1!5% 116.l-1,-116¾ ll5 -117¼ 115 -115 113½-115)4 114 - 114½ .... - ... . 112 - ll2
Gold, 189,- ............ . ti 113 -113 113¾-113¾ .... - .•.. 115 -115 116 - UC¾ 117¼-l ... 7¼ 116% -118¼ 116¾-117 115 - 116¾ 115¼-115½ .... - ....
_ ... .
Gold, 1898 ........... .. 6 113½-115 118¼-115 115¼-115~ 116 -117 ll7J4- 117~i 118½-120¾ 118 -119¾ 117¾-118 117¾-118½ 117 -118 115½-117 115),6-116¾
San Joaquin Br ....... 6 114;}4-114~ ... . - .... •··· - .... 114 -lH ... . - .. ... ... - .... . .. - ... . .. - ... . ....
. ... 114 -11-i 113¾-113¾ . . . . _ . .. .
Cal.&O1·egou,"B" .. ti .. .. - ........ - .... •··· - ....
- ........ - ....... - .. . .. ... - ....... - ........ - .... 103¾-103½ .... - .... . ... - ... .
Land g1•ants .... . . ...... 6 102¾-10!:I¼ 104½-105½ 104¾-104:l:( 101!)4-102¼ 101¾-102½ 102¾-103 102¾-103 102i-1-102¾ 10-! -105 101)4-101½ 101¾-101½ 101 - 102
Mort. bonds, 1936 ... ti 105¾-!()6% 106¼-107½ 107¾- 108¾ 105¼-106¾ 107 -107¾ 107¾-108¼ ... . - ........ - ... ..... - ........ - ........ _ .... .. .. _ ... .
Moi·t. gua1·., 1939 . .. 5 .... - .... .... - .... • •· • - .... • .. • - • • • .. • • - •··· • • • - • • .. • •. • - • • • • • • .. - •· •· ... - . .. . . .. - .... 102¾-102½ 102½-104
Westei·n Pac ........... 6 111 - 111¾ 112¾-112½ 115 -115 .... - .... 115¼-115½ .... - . .. . .. - .... 111 -111 113 -113 113½-113¾ 113¾-113¾ 113 -113¼
Ches. & O.-P. mon.t'd 6 ... . - .. .. 114 -115 115 -116 115 -115½ .... - ... ... . . - .. ...... - .... 114 -115 114 -114 114½-116 .... - .... ll5½-116
Series A, gold, 190S .ti ll5 -116 116 -117½ 117½-118½ 116 -118 117:l:(-120 119 -119 118½-119 .... - .... 120 -120 115 · 117½ 119 -119 119¾-119¾
)Se1·.B.reor.cou1.ct .6 70¾-84¼ 85½-86¾; .... - ....... - .... .... - ........ - ........ - ........ - ....... - ........ - . . . . . - .. . . .... _ ... .
Ext.cp.,reo1.·.co1n.ct.4 79¼- 85¼ 85 - 87½ . . . . - ........ - ....... - . ..... - ... . .... - .... .. - ....... ...... - ........ - .. . .. _ .. ..
Curr'cy, reor.co1n.ct.6 29¼- 33¼ 81½- 35 . .. . - ........ - .... .. - ... ..... - ... . .... - . ...... - . •• . .. - ........ .. ... _
.... _ .. ..
Mort., 1911. ........... 6 113!,4-116¼ lHl¼-118 117¼-117% 114½-117 116¾-117¾ 118 -118-~ 117¾- 118 118),i-119¾ 119¾-120 ll/>¼-118 116½-118 116 -116
ht, con., ai., 1939 .... a
94 - 95
94 - 04¾ 1 94 - 97¼ 96¾- 98¾ 98 -100¾ 100~2-102¾ 101¾-104¼ 102¼-103¼ 102¾-103% 100¼-101
09 -101
Ches. O. & S. W ...... . 6 107 -110 107 -109½ 109 -109½ 108½·111 llOhj-111¼ lll½-112;13 11~¼-114 110 -111½ lllJ,i-112¾ 111 -112¾1111),i-lll½ 111 -ill
~d mo1.·t., 1911 ........ 6
77 - 81 1.... - .... 77¼- 77'7.i 78¾- 78¾ 71,1 - 80¾ 77 - 77¾
77 - 78 .... - .... 79 - 79
Chic. & Alton-1st . .... ,- ll~-111 111½-fll½ 112¾-112~ .... - . ... 112½-112½ 113 -llli 109½-109½ 109½-109½ 109½-100¾ 109¾-110
.•• :- •••. lll¾-112
Sinking tuud, 1903 .. 6 .... - . ... 123¾-125½ 124¼-12~( .... - . ... 126 -126 12 : -124 .... - •... -.. . - •. . . . . . - .... 123¾-124 ... . - . . . 120¾ 121¾
L.&Mo.R.lst, 1900. 7 124 -124½ 121½-121½ . ... - ... I.... - ... 122 -123 121¾-1~2½ .... - ..•. 120 -120 .. .. - .... 119 -120 .... - . . 110 -120
St.L.J.& Cb.lst,'941 .... - ........ - ....... - .... 112½-112½ 113 -113 113¾-114¼ . .. - ... ..... - ........ - . . 111¼-ll2 111¾-111¼ 111 -111¾
1st m., guar., (a64).7 .... - ........ - ........ - .
112½-112½1• ... ·- .. .. .. - .... 114¾-114¾ .... - .......• - ....... - ........ - .. ..
ltliss.Riv.Bd.lst,s.f.6 . ... - .... 107¾-107¼ · ... - .•.. 107 -108 .... - . .. 107¾-lO'i¾ 107 -107¼ ···· - . .. . ... - ..... ... - . . .. . ...
.. .. 106 -106
Chic. Bm•.& Nor.-lst-5 98 - 90 100.¼-100¾ 101¾;-102 09%-100 103 -103¼ . . - . .. . 102 -104% 108 -103¾ 102¾-102½ .. .. - .... 101 -101 .... - ....
Chic.B.& Q.-Consol. . . ,- 131 -13 1½ 131½-132 131½-132 132 -132½ 133¼;-134 133½-134 120½-131 130 -130½ 131 -132 129 -130½ 128¾-130 129 -130
Sink. fund, 1901 . .... 5 108 -109
. .. - .. . ... - .. . 106¼-107 107¾-107¾ .... - . ... . . . - . . . ..
- -- 106½-106½ 104¾-104¾ 105½-106 106 -16t
Debenture, 1913 .. ... ~ 104 -106 108½-106 103 -104¾ 108½-105¼ 102¾-105½ 105½-106¾ 105 -106½ 104¾-105¾ 105 -106 105¾-106¾ 103½·104¾ 103 -105
IowaDiv.-·sink. fd ... 5 .... - ........ - ........ - ........ - ... ..... - .... 113¾-113¼ .... - .. . . .. - •. • .... - .. .. . .. - ..•. 113 -113 .. .. - .. . .
Iowa Div ... .. .. ... . .. .4 96¾- 97¾ 97¾- 97:Ji 97 - 98
94½- 95
96½- 97½ 00½- 97¼ 07 - 07¾ 97¾- 98
97 - 97¾ 07 - 97
95¼- 95¾ 95½- 95!!(
Denver Div., 1922 . . 4 94'4- 91½ 92½- 98½ 92½- 93½ 93¾- 94¼ 94¾- 96½ 95½- 06½ 95½- 95½ 95¼- 95¾ 94¾- 96
93 - 94¾ 9-i - 9-i
93 - 9.4c¾
Plain, 1921 ... ....... . 4 .... - ........ - . . . . 88%- 90¾ .... - . . .. 9! - 91
01¼- 92½ 92¾- 93¼ 93½- 95 .... - . . . . 92 - 92¾ 02 - 93 .. .. - .. .
Nebr'skaExt.,1921.4 91'¼- 94¾ 93~~- 05
93 - 95
93½- 05% 93¾- 9-1¼ 93¾- 94¾ 93¾- 9-1½ 94¼- 94½ 94½- 94'¾ 94 - 94½ 91¾- 92½ 91¾- 9-i
Chic. & .E. 111.-lst, s.f.ti 118 -119¼ 119 -119 119~-119¾ 119¼-lHI¼ ... . - .... 119 -119 120 -120 ... . - . . .. 120 -120 120 - 120 120¾-121 .... - ... .
•lstconsol., gold ....... 6 118 -120 12(%-124 123½-124¼ 120½-121¾ 120½-121 121½-122¾ 124¾-125¼ 126 -126 127½-127¾ 120 -125 123 -124 117 -122
Gen, mort., 1937 .... 5 97 - 100~ 100¾-104¾ 1()2¼-103¾ 102½-104 101¾-104 108 -104 103¾-104¾ 103),i-104¾ 103¾-104½ 102¾-103¾ 99 - 102¼ 1)9 -102
Chic. Gas L. & C-lst.. ~ .... - .... 83 - 90
8~- 95
92½- 94~ 93%-101
99¾-100½ 96 - 96
95¾- 95¾ 05¾- 97¾ 06 - 96¾ 05 - 97
90 - 93l>a
Chic. & ln.C'l Ry-lst .5 00 -101 101 - 105 103 -104¼ 10a ,'108½ 102¼-104. 104 -106 103¾-106 104¼-106 1~ -104 101 -102 102P .,_io2 101¾-102
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
·•·1 •· .. - ....
65
.RAILROAD BONDS.
1889-Continued.
BONDS .
__________
JANUARY FEBR'RY.
MA.ROH.
APRIL.
MAY.
I
,TUNE.
JULY.
AUGUST. SEPT'BER. OCTOBER. NOV'BER.
DE0'BXB.
Low.Hlgh Low.High Low.High L o w . H i g h ~ Low.High Low.High Low.High Low.High Low.High Low.Higo Low.Hlgh
1
Chic. Mllw. & St. P.bt, P. D., 1898 ....... 8 l~-129 124.¼-124½ 124 -124¼ 125 -125 127 -129 181 -131½ .••• - .... 125¾-128 125¼-126¾ 126 -126 l.25¾-126 125%--1~
lid, P. D., 1898..... '7•3 122½-122½ 118 -120 .... - .... 118 -118 .... - .... ll!0¼-120¼ .... - ........ - ........ - ........ - ........ - ........ - •.•.
h t,irold, R. D,1902.'7 .... - .... 124 -125½ 125½-125½ 124¼-125½
- •.•.•..• - .... 125 -125 127 -127 .... - .... 125 -126 •..• - •... 127 -127
lat La Crosse Div .... '7 109 -11~ 110 -110½ no -110 110 -112 112½-116¼ 114 -116½ 109:)fr-109¾ 110½-112 113¼-114 113 -114¾ 113¼-114¼ 114¼-114½
bt I. & M. Dlv ... ..... '7 114½-114½ 11~116 115¾-115½ 115.¼-116 117 - 117 120 -120 115¼-119 ...• - .... 117 -119 117 -118 117 -118 118¼-UB¾
1st I. & D. Div ........ '7 118½-120 .••. - .... 118 -118 .... - •...•••• - ..•..... - .... 119 -119 .... - ........ - ........ - .... 117¾-118 119.¼-119¼
bt C. & M. Div .... ... '7 124 -124 124 -125 125¼-126 125 -125 .... - ... ..... - .... 124½-126 .... - .... 125 -126½ 124½-125 124¼-124½ 126 -126
Consol., 1903 ......... , 122¼-124¾ ~-12438 124 -125 126 -126¾ 126%-129 129 -130½ 126½-127¾ 126¼-127 126 -127 126 -127¼ 127 -128 128 -129.¼
bt I. & D. Exten . .... ,- 120¾-12~ 128½-12H½ 124 -125 126¼-126¼ .... - ........ - .... .. . - ........ - ........ . 124¾-126 125 -127 127 -127
lat, So. West Div ...... 6 112 -115 114 -115¼ .... - ........ - .... •.••· - .... 115 -116 117 -117 .... _ .... 117½-117½ . ..• - .... 117 -117.¼ 115¾-115¾
lat La C. & Dav ..... . I} 102½-102½ .... - .... 102),ji- 102½ 103 -103
. . - .. 105 -107 .... - .... ... _ ... 105 -105 .... - ........ - •... 105 -105
lat So. Minn. Div . .... 6 110 -111 110¼-118 110¼-112½ lll¼-113¾ 113.¼-115½ 115½-116½ 113¼-114¼ 115 -118.¼ 120 -121 116 -119½ 116 -117¾ 117 -117¾
1st H. & D. Div ....... 1 119¾-120'7.1'120¾-120¾ 121 -121 .... - . . .. 124'4-127 129 -129 124½·126¾ 125 -125 126 -127½ 126½-127 125 -125 .... - •••.
1st H. & D. Dtv .... . 3 .... - ........ - . . . . 99¼- 80½ 101½-101½ 108 -105¾ 106 -107.¼ 104¾-104:J,;{ 103¾-104½ •... - .... 104¾-104¾ 104 -104¾ .... - •...
Chic. & Pac. Div ...... 6 118½-118½ 119.¼-119¼ 118 -119 118¼,-11$¾ •.•. - .... . .. - ........ - .... 117¼-117¾ 118¾-120 .... - ••• . 120 -120 118 -118
Chic. & Pac. W .Div .. 3 108 -105½ 105 -106 105½-105¾ 105:)fr-100!)4 107 -108~ 108¼-109¾ 106 -107 106½-107 107.¼-108½ 106¼-108¾ 106½-107¾ 107 -108
Chic. & Mo. R'. Div .. 3 ~-100 99 -100 08¼-100 99 -101½ 101½-104½ 105 -107¾ 103½-104¾ 104 -104½ 104½-104¾ 104¼-104¾ 103¾-104¾ 103½-104:lo(
Mineral Point Div ... 3 98 - 99¾ 100 -101 101¼-102 101½-102 101'4-105 1011½·106½ 104 -106 104¾-104:J:( 104¾·107 103½-103½ 104 -104 105 -106
Cblc. & L. Sup. Div .3 .... - ........ - ........ - . ... . .. - .... 103.¼-105 106 -106 .... - .. •. . . - . .. • ... - .... ... - ... 105¾-105¾ 104½-104½
Wis.& Min. Div ..... . 3 00 -101¼ 100 -102 100 -:100¾ 99¾-103 103¾-100 106 -108½ 104½-106 105 -105½ 104¼-105¾ 104¼-105½ 105 -105 104¼-105
TermJual .... ........ .. :i 100 -102 101¾-102½ 101½-102 102 -102 103 -106½ 106.¼-108 105 -105½ 105¼-106 105 -107 105 -105½ 105 -105 104 -105~
Inc. conv., S. F .... ... :; .... - .... 90 - 90 .... - ........ - ........ - .... 100 -100 .... - .... 101½-101½ .... - ........ - .... .... - ........ - .. ..
Dakota & Gt. So . .. .:; .. .. - . . .. 92 - 92 ... . - .. .. 96¾- 97¼ 99½-100¾ 100¾-104½ 101¼-102 101 -101½ 102 -102 . . .. - .... 100 -100 99 _ -100
Ohle. & Northwest'nConsol., 1913 ......... '7 143¾..;.147 lU¼-145½ 145 -145½ U5 -145'4 148¾-145¼ 145½-146½ 145 -146½ 145 -140 148 -148 144 -144 142 -144 143 -144
Gold, coup., 1902 .... 7 129¼-182 lso,.(-181½ 131 -181¾ 1$0¾-131¼ 182 -133 lS0¼-130½ 130¼-130¾ .... - .... 129%-129½ 129 -129¾ 129¼-130 125¼-126¾
Gold, rear., 190~ ...... , 130 -131¾ 130½-131¾ 131 -181¼ 130 -182 132 -132 129½-130 130¼-130½ 129 -129 128¼-129 128 -129¼ 125¼-130 125M-126
~lnklna- fund, coup .... 6 119 -119 121 -122 .... - .... 122¼-123 122 -122 122¼·122¾ 122 -122 120 -120 121 -121 117 -11?¾ 115 -117¼ 115 -116
Slnk.luir tund, coup ... 3 108½·109½ 109¾-lll U0¼-111 109¾-110¾ 110½-111½ 110¾-112 111 -111½ 109!1:(-110 110 -111 .... - •.. . 107 -108 107 -108½
Re1dstered ........... :,i .... - ........ - ........ - ........ - .... 111 -111 .... _ ... . .... - ........ _ ........ - ........ - .... 106 -106 106¾-106¾
Debenture, 1933 ..... :i 109 -110½ .... - ........ - .... 112%-113 113 -118¾ 114 -114 .... 114¼-114¼ 116 -116 114¼-114½ 109 -111½ 11(%-110½
~:; yrs, cleben., 1909.3 105 -106 106¾- 107 106¾-107 109 -109 105 -106½ 107 -108½ 108 -108 106 -107 106%-106¾ 106½-107 104½-105½ 105 -106.¼
Reiristered ... ....... o .... - ........ - ........ - .... 105 -105 106 -106.¼ .... - ........ .... - ........ - .... . .. - ........ - .... • ... - .. ..
.£xten. bonds, 19~6 .. 4 98 -101¾ 100 -104¼ 100 -101 100¼-101¾ 101 -102 .... - .... 101½-102¼ 09¼-102 99 - 99½ 98¾- 99¼ 97½- 98½ 96 - 98
Real11tered .. .... .... 4 .... - ........ - ........ - ........ - ........ - ........ - .... 101 -101½ 99½- 99½ .. . . - ........ - .... 95 - 95 96 • 96
Iowa Midland-1st ... 8 184 -184 13S½-138½ ms -185 . .. . - . .. . . .. . - . . .. .. .. - . . .. . . • - .... 130 -130 130 -130 129 -130 .. .. - ... • •·· -; • • ..
Ohle.& Mll.-lst ...... '7 120 -122 121½-121½ 122 -122½ 122¼-123¼ .... - .... 124 -124 .. . - ........ - ........ - .... 124¼-125½ 122¾-122¾ 123 -123
Winona& St. P.-'~d.'7 .. .. - ....... - .... 135 -186½ 136¼-186½ 184 -184 .... - ........ - ........ - ........ - .... 132 -132 .... - ... 180 -130
Mil. & Mad.-lst ..... 6 ... - ... . 117 -117 .... - ........ - ........ - ........ - .... 120 -120 .... - .... 116¼-116¼ .... - .... 118 -118 •••• - •••.
Ottum. C. F. & St. P .:; ... . - . .. . .. . . - .... 105¾-107 . . • . - .... 109¼-109½ . .. . - .... 109¾-109¾ . .. . - .. .. .. .. - .. .. .. .. - .... 1087,(-108¼ .. •· - • • • ·
Northern Illa.-lst .. 3 .... - .... 110 -110 106 -107 108 -108 108½-108½ .... - ........ - . •• 109½_-109~ ........ -_ ·.·.•.. . ...v-_ . . . . •• • -_ ··~ ·;:.: : •
9
93
94 74 •N
92,.,. 93
Chlc. Peor. & St. L.,ir .3 .... - . . . 95¼- 97 95 - 98 97½- 98¾ 98)4- 98¾ 98 - 98¾ 97 - 98 96
96 74
Ohle. R. I. & Pac.Ooupon .......... ....... 6 133 -133 131½-133 131.¼-l~ 132 -134 184 -137 138½-138¾ 133½-135½ 134¼-134½ 136 -136 136 -137 134 -137 136 -137
Rearistered ..... ....... . 6 .... - ........ - .... lS(½f-131 .... - .... 135 -135 ... . - . .. 133 -133 .... - ........ - .... 134¼-135 133¼-133¾ · ••• - .. ..
Exten. & Col .... ...... I} 1()4%-106 105¼-106¼ 104:J;(-105¼ 104!1:(-107¼ 107¼-107¾ 107¾-108½ 105.¼-106 104¾-106¼ 105¼-106¼ 105¾-106¼ 105%-106.¼ 105¼-l<rn&
Reiristered.......... 3 105¼-105¼ 105½-105½ 105¼-105¼ .... - ........ - ........ - .••.••• - ........ - ••• . .... - .... 105¼-105¼ .... - .... 105~-105W
Keok'k&DesM.-lst,O 108 -105 .... - ........ - .... 103½-105 105 -106¾ 106 -107 107 -107 .... - .... 106¼-107 105 -105 103¾;-103¾ 105 -105
Dea M. & Ft.D.-lst,4 83 - 88 82¼- 88 85 - 85 .... - ........ - ....... - ........ - .... 87 - 88 .... - . ... 86 - 86 •••• - .... 86 - 86
1st, 190:i ........... ~½ 52¼- 52½ M - M¼ .... - ........ - ....... - ....... - ....... - ........ - ........ - ... ..... - ........ - .... 58 - 53
Extension ....... .. ... 4 .... - ........ - .. . . 84 - 84 .... _ ........ _ ........ _ ........ - .... .... _ ........ - ........ - ....... - .... 88 - 86
Oblc.St.L.&Pitts-lst.3 96½- 97 97 -100 100 -100 96 - 97 97 - 97½ \17'4- 97¾ 95 - 95 92 - 95 95 - 96 .... - .... 93 - 9~ 9 } - 9 7½
Ohle. 8t.P. Min.& Om.121
Consol., 1930 ....... .. 6 119½-121¾ 121¼-122 121 -12'2 121¼-123 122¼-124J.ii 120 -123 122 -123¾ 123 -123¼ 123¼-124½ 121¼-124 120 -122½ ~
Chlc.St.P.&M.-bt .. 6 128¾-123½ 125 -126 127 -127 .... - .... 124 -124 125 -125¾ 126 -127¼ 127 -127 .... - .... 126¼-1Z7½ 123.¼-124 124 • 124½
St. P. & 8. Clty-lst .. 6 124 -125½ 125 -126 126%-127 125 -125 124¼-124¼ 125¼-12'l 125½-126 126¾-127½ 127½-127½ 124½-126 123¾-125½ 123%-125
Oblc.&W.I.-lst, s.f.. 6 ... - ........ - ........ - ........ - ........ - ....... - ........ - ........ - ........ - ........ - .... 114 -114 .... - · ···
3--
Gen. mort., 193~- ... -6 119 -119}1
- .... 117~-11731! .... . - .... 118 -118
118 -118
.... - .... 118 -118 .... - .... 120
-103 101 -104 101
- .... . ... - ........
- . . .. .. .. - . .. . .. ..
- ........ - .... . ...
- .... 105 -105 ....
- ........ - ........
- 93¾ 93½- 96
93
- .... 123¼-123½ 123
- .... .... - . .......
.. .. 120¼-125 123
Oln.In.St.L.&C.-lst.4 95.¼- 97 98 - 99 97½- 98¾ 98½- 99¾ 99¼-100 99¾-101½ 101¾-102¼ 102
Consol., 1920 ..... ... . 6 .... - ... .. .. - ........ - ... 113 -113 ... - ........ - . . ...... - ........
Ctn. J. & M.-lst,con . .3 .. .. - . .. . 94 - 94 94 - 94 . . . .
.. .. .. .. - . . . . . .. . - • .. . .. .. - . . .. .. ..
Cln. San. & Clev.-2d.,- .... - ........ - ... ... - .... 100 -100 .... - ........ - ........ - ........
Consol. 1st, g., 1928.3 .... - ........ - ........ - ........ - ........ - ....... - ........ - ........
Ctn. Wu.sh. & B., p. 1.4½ .... - . . .. 94 - 94 .... - ........ - ........ - .... 98 - 98 .... - . .......
Oleve. & Canton-lst.:i 92½- 95 94 - 96¾ 95 - 96 95½- 97¼ 96 - 97¼ 97½- 00 92½- 98¾ 93
Cl. c. c.& I.-lst, s.td.1120%-122½ 122¼-123 128 -123¾ 124 -125 .... - .... 122¼-122½ .... - ........
Consol .................... '7 130 -188 .... - .... 133 -134 184½-lH() .. . . - .... 138½-188¼ .... - ........
General con8 .. .... .... 6 112 -113 115 -116¾ 116½-117 us ~118.¼ 119 -120 120 -120 .... - .. .. ....
~!~~c~:.1~~-.-~~~~~!~:: ioo
=105 ..
!~~
=!~~¾
i02
1
=104· · ·9~103M ;
:¼ ·98
1
=
-120 119~-ll~ • •· · - · · · ·
-103¼ 100¼-100¾ 99 -lOO
- ........ - .... •··· - • .. ·
- • • • • • .. • - • .. • • • • • - • · · ·
- ........ - ........ - •·
- ........ - .... •··· - ··· ·
- ........ - .. · ·
- 97
94¾- 96
96 :- 99
-124 119¾-120 119¼-119¾
- .... 136 -136¼ 134 -134
-123 118½-122 120¼-123
io2 =lM ..
72½- 75 ... 73 - 78¼ 76 •
=100¼ ioo¼=102 .. · 98¾=100 .. ·98:J:(=102 .. io1.J4=102 .. io:i =l<>i ..
·oo~
Colorado Mid.-1st, ai.6 96¾- 96¾ 99 - 99
.. - .... 103¾-1053,s .... - ........ - ........ • - .. ..
Ool.H.Val.&T.-lst ... 3 80¼- Sl¼ Si¼- 87¾ 80 - 84¾ 74 - 83¼ 70 - 77¼ 65¼- 73¾ 60¾- 72 ..
75 ..
77 ...
77¾
Gen. irold, 1904 ...... 6 82 - 84 84 - 87 85 - 87 75 - 85½ 69½- 77 55 - 66½ 50 - 64 54¼- 62 65½- 72¾ 71 - 75.¼ 73¼- 81 75¼- 76¾
Col.&Hock.C&I.-'1'7.ti . .. - ... ... .. - ........ - ........ - ...... - ........ - .... .. .. - ........ - ........ - . ... 98 - 98 .... - •••••••• - ... ·
Ool.&Green.-lst,'lti.6 .. . - ........ - ........ - ........ - ........ - ... . .... - .... .... - ........ - .. ...... - ........ - .... 105¼-105¾ ..•• - .. ..
lid mort., 1926 ........ 6
- ........ - .... .... - ........ - .. .. .... - . . .. .. - .. ...... - ... - 86 - 86 .... - ... . .... - ........ - .... •·•· - •· · ·
Col. &Cin. Mid.-lst .. 6 90 - 90½ 90 - 93 89 - 92 .... - .... .... - ... 92 - 93 .... - .... 89 - 89 .... - ........ - .... 90 - 93 91¾- 91¼
Oumb. & Penn.-lst ... 6 .... .- ... . 105 -105 .... - ........ - ........ - .... .... - . .. . .... - ........ - .... .... - ... . ... - ........ - .... •·•:...: •···
Delaw. & Bud. Canal1at, 1891 ................ , 106¼-106¾ 106¼-106¾ 106½-106¾ 1~-107¼ 107¼-108 105 -108½ 104¾-105 104%-104¾ 104%-104¾ 105 -105¾ 105¼-106 102¼-106
lat extended, 1891 .. '7 110}(-110¾ .... - ........ - ........ - .... 108¾-108¾ 105 -108¾ .... - .... . ... - ........ - .... 106 -106 •••• - •••. 106 -106
<loupon, 1894 .......... '7 11~-1177~ 118 -118 117.¼-118 114 -115¼ n~-116 116¾-117 116¾-117 117¾-117½ .... - .... 112¼-113 112¾-113}( 113¼-113¾
.&eir., 1894 ............. '7 111 -117.¼ 117 -117 .... - .... 114¾-114¼ .... - .... 115¼-116½ 117 -117 .. .. - . . .. 114 -114 .... - ........ - ........ - · .. ·
.Penna. Dlv.-Coup .. .1 .... - .... 146.¼-146¼ 14'½-145¾ 147 -147 147¼-148½ 147½-148 148 -148½ .... - .... 142 -142 144 -144 144½-144¾ 144 -144
Reirlstered .. ........ '7 .. .. - ........ - . .. . .. . - . . .. .. .. - .. .. .. .. - . .. . .. .. - .. . 147 -147 149¼-149½ 143 -143 .. .. - .... 144 -144 • •· • - • · · Alb.&8u8q.-1st,iru .7136 -136 186 -136 135 -136 .... - ........ - ........ - ....... - ....... - ........ - ... 135 -135 .... - ........ - ... .
tst coup., guar ...... 6 124 -124.¾ 125½-125½ 125.¼-125¾ l.22½-124¼ 124 -124¾ 128¾-125¾ 124 -125¾ 125 -126½ 125¼-126 122 =12·2·½··11·2··1·~122
•. ¾
•. 1.22 -123
1 46 - 146
-J~na. & Sar.-lst .. .. , 145 -145 149 -100 150 -150 150 -150 .... - .... 150 -150
.. - .... 149 -150 .... - . ... ....
Reiristered ....... . .. 7
- .... 149¾-149½ .... _ .... 150 -150 .... _ ........ - ........ _ ........ - ........ - ....... - .... , .... - .... 146 -146
Del.L.& We11t.-Conv.'7 109 -109 109 -l0U .... - ........ - .... 111¾·111½ 1ou -109 108%-108¼ 109.¼-109.¼ 108½-10~ 108½-108½ .... - .... •··· - .. ..
Mort., 190'7
........ , 140 -140 141 -142 .... - .... 187½-181:1 189 -139 139 -139 . ... - .... 138¼-138½ .... - .... 134 -134 134 -134 134 -135
Syr.B'n ~N.Y., lst .. 7 .... - .... 187 -138 189 -139 .... - .... 136 -136 138 -188 .... - .... 136 -136 137½-138 132 -132 132¼-182¼ .... - ....
Moma & Easex-lst.7 144.¼-146 147 ·148 146 -147 146½-146½ 145 .145 147½-147¼ 146 -146 147¼-147½ 148 -148 148%-149½ 145 -146½ 144½-147¾
lid Mortgage ......... , 109¾-110½ 106%-107 10~-107½ 107.¼-10'.·¼ 107¾-J09 108¾-109¾ 108¼-109¼ 105¾-105¾ 105¼-105½ 105¾-106¼ 106¼-106½ 106¼-106%
,, 1900 ................... '7 122½-125 125½-125½ .... - . . ...... - ........ - ........ .... - ....... - ........ - ........ - . . . . . . - ........ - .. ..
·:1871-1901 .... ....... , 127½-127¾ 128 -128 129½-129¼ 125½-125~ 126 -128½ 1293,4-129¾ 130.¼-130.¼ 130 -131 130 -131¾ 127½-127½ 125~~126 .... - .. ..
Oonaol., auar ......... , .... - .... 143¾-144¼ 144 -145 144 -145 145½-147 144 -144 143½-143½ 144 -1~144¾-145½ 144½-145 144¼-145 140½-140½
N.Y. L. & W.-lst .... 6 181½-131¾ 138¼-185 136 -186 186 -18'™ .... - .... 158 -138½ 136 -136 136¼-136½ 137¼-137¾ 137 -137¼ 135½-137¾ 134 -186
Oon11tructlon .... .... 3 118¼-11~ 111¼-112 112 -113 112¾-113¾ 114½-115¾ 115¾-116 115¼-116½ 114 -114½ 113½-113½ 113 -113½ 112 -112¼ 112¼-llS
Denver & Rio G.-lat. 7 119 -121.¼ 1207.,f-122 120 -121 121¼-12'214 118%-119¾ 119'(-120½ 119¼-121 121¼-122½ 122¼-123 122¼-122.¼ 118.¼-11~ .. • • - .. •·
Kew consol, 1936 . . . 4 75 - 78 76Jr 80 79 - 80½ 79¼- 81~ ~ - 82¾ 81¼- 82½ 78¼- 79¾ 78½79 - 79¾ 77¼- 7~ 77.¼- 783,( 7~- N
Imp. DI.,••• 19~8. .... ~ .... - .... ~ s1-u s~ ~ s1 • ~ ~
81.¼- 84
83½- So¾ .....,.. .•• ~ - 84½ 8" - 8"½ i'~• ae 81 - u
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
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66
RAILROAJJ BONDS.
___
1889-Continue d.
....
BONDS.
-C;:
JANUARY FEBR'RY. MAR
-~;R~~-
- ~ ·Y. -
- JUNJC. -
- J~r1:~~1·AUGUST. SEPT'BER. OCTOBER. NGV'BER. D EC'BER
Low.High Low.High ~
Low.
Low.High Low.lllgb Low.High Low.H,gh Low.High Low.High Low.High Low.High Low .High
Denv .&R.G . W .- 1st .. 6 84¾- 86 88½- 95½ 98¾-102 101½-101½ 100 -101 . . . - .... 101 -101 .... - ........ - ....... - •....... - .......• - ••..
82~- 93~ 85 - 90
A ■ sented, lst .......... 6 7~- '77~ 78 - 86
87 - 90¾ 92½- 92½ . . . . - . . . . 91¾- 91¾ . . . . - . . .. . .. .
- . ...... .. . . • . 85½- 88¼ 86¼- 92 ~ - 93¾ 89 - 91
- ....
Trust receipts.. . ....
90¾- 93
91½- 95
94 - 97¾ ~-100
98 - 99¾
Denv. So. P. & P.- l st. 7 81 - 81½ 81 - 85 84 - 87 85 - 87 89¾- 93 90½- 9Q¾, .... - ............ ..... - ....... .
- .
Tru ■t recelpt11 .. ........
- . . . . 89 - 9,1½ 91 - 92½ 90½- 9H¼1· 9-! - 94
89½- 89½ 87½- 89l'-( 89¼- 91 . . . . - ... ... Det. M. & lll.- L. a .... 3 ½ 84 - 84¼\ 34¾- 40 87 - 38 86 - :m 36¾- 37¾ 85 - 85¾ 33 - s.; a2 - a;; 34 - 35 35 - 38 31¾- 35 s1 - 87
Det. B. C. &Alp •.:....l s t .. 6 108 -105 1()4½-108½ 107 -108 107¾-107½ 107 -107¾ .... - .... 106 -10() 1104½-105½ 104¼;-105 104 -105 104 -104 104 -105
Duluth & I. R.- tst . . . :i 96¾- 99 00)4- 104 101¼-102½ liS¾-100 90½-102¼ 101¼-102 101 -102 102 -103½ 102¼;-103½ 100½-101¼ 99 -100½ 100 -101¾
Dul. s.s.& Atl. ,193'7 .:i 89 - 89½ 89½- 89½ 89 - 89 811 - 08 I 92%-· 00¼ 98¼- 99¼ 94 - 9ti½ 03½- 95 93%- 94½ 92½- 94 93¾- 94½ 94 - 96
E. Tenn. V.& G.- lst .. , 120 -121 121 -121½ 121¼-122 122 -12:3 1 · . . . - . . . . 124 -124 122¾-12f> 1125 -125 123½-123¾ 124½-124½ ... . - •••• 12"., -123
- . ... 112 - 112 111 -112 112 -113 •.•. - ........ - ••••.••• - •...•.•• - ••••••• • - •... 110¾-112 10Ql,r109½ 109½ -109½
Dlvi ■ional . ..... . .. . ... . :i
Con ■ol., 1st, 19~6 ... . ~ 102 -104¼ 104 -105¾ 104½=1~ •• ~~~.¾=1(:~. il~:.¼=1~~
=1~~
=1~ .. 1~~/:¾ 1 ~=1=
- ..
l ■ t Ext., Ir•• 1937 . . . . ~ .... - .... .... - ....
Equip. & Imp., 1rold.. :i
92½- 92½ 91¾- 92½ 91½- 91¼ 91 - 91½ . . . . - • . • . 95 - 95½1 95 - 95¼ 02¾- 92% 92¾- 92¾ 93 - 93 . . . . - .... .... - .... .... Mobile & Birm.- l s t .~
Knox. & O.- lst, 1r... 6 101 -108 102¾-105½ 105 -106½ io6½=1cili~ ,1~~=1~~¼ 1~~ =1':1¾ ios =100 .. ioi> =1i2·· ii2¾=1i2½ ii~ =1i2 .. iio -111½ 110 -110
- .... 113½-113½ .... - ...... .. - ........ - ... .. •. •
Alabama Cent.- l st. ti .... - .... .... - .... .
Eliz. Lex. &Bl1r. S .... 6 99 -101 1003,s-106 101¾-102 101 -103 102½-104¾ 104 -106 105½-105¾ 105½-107½ 104¼-106 105 -105½ 104 -105½ 103 -104½
Eqult. Gas. & F.- lst ..6
- ... .... - .... 98½- 100 100 -100 101½-107½ 106 -106¾ 103 -104 1103 -103 102½-102½ 101¾-101½ 102 -102 100 -100
Brie-1st, Ext. , 1897 .. , 121½-121¼ 122 -122 120½-120½ 121 -121 118 -118 118 -118 ... - •••..... - ... 120 -121 122 -122 118 -118 119¾-120
~d, Ext., 1919 ..... .... ~ 118 -118 .... - . ... .... - .... 118½-llS¾ .... - ........ - ... 119¼-110¼ 120 -121½ ... • - ... . ...• - .... 117 -117 118 - 118
- . ... .... - . .. .
3d, Ext., 1923 ....... 4 ¾ 111)4-112 112 -113 .... - .. . 110 -110 .... - .... 111 -113 113 -i13 113 -113
4th, Ext., 1920 .. .... .:i
- .... 115 -115 .... - . ... 115 -115 .... - .... 118 -118½ .... - .... 110 -119 119 -120 116 -116 116 -117¼ 115 -115
'5th, Ext., 1928.. .. .... 4 100¾-l~ 101 -101 101~-101% .... - .... 102¼-104 102 -103 103¾-10:l½ .... - .... 103½-104 103½-103½ 104 -104 102½-103
lat, consol., 1rold ...... 1 187½-141 141 -141¼ 187 - 137¾ la7¾-l39 139 -141¼ U0½-141½ 141¾-142 142 -142 138)4-139 137½-138½ 137¾-189 137 -138
138 -138 .... - ... 138 -140 .... - ... . . ••• - .... 136¼-186½ . ... - ... :
1st con. f'und coup .... 7 ... - ... .... - .... . ... .... . .. - ........ - •.. 112 -112
Reorgan., 1st lien ... 6 .... - . ... ....
Louar Dock, 1893 ..... , 11®'(-112 112 -112½ 112 -112½ 112%-113 1:!4 -114 111 -111¾ 111 -111½ 111½-112 .... - •.•. 111)4-111¼ lll l,rlll¾ 108¼-~
.
Cons. arold, 193~ ... 6 1213,s-122 128 -123 121 -121 118 -119 120 -120 120 -120 120 -120 120 -120
- . . . . . . . - •... 148¾-143½ 142 -142¼ . . • • - • . . . . . •• - ....
Buff. N. Y.&E.- lst .'7 140¾-141½ 142 -143 142½-142½ 145 ·-145 143 -145½ 142'¼-143
N.Y.L.E.&W.New, ~d consol .. ... . 6 98 -10~ 102½-10~ 101¾;-104¼ 103 -106¾ 106¼-107½ 103½-104~ 102 -104 102½-104¾ 103¾-106½ 103¾-105 104¼-105¼ 1()()%-102½
Col. trust, 19~2 .. .. . 6 .... - . ... no -110 . ... Fund. coup., 1969 . . ~ 89½- 92 94½- 94¾ 94¾- 94¾ 98 - 9,1 94 - 94% • . . - • . . . 89½- 92 89 - 89 90¼- 90¾ 88 - 89½ 88 - SB 87¼- 88
Income ................ 6
- • ••• . . . . - ..4. 70 - 72 78 - 76 70 - 70 73½- 78½ . . . .
- •... 108 -108 105½-105½ . . . . - ••.. 104½-105
- ••.. 106 -106
Jeff"erson RR.- lst1r.ii .... - . .. . .... - .... .... - .... 115 -115 ....
Erle & Pittsb.- Con ... ,- 111 -113½
...
.
...
.
...
Eureka 8prlngs- l11t .. 6
.... 102¾··102¾ ....
- ....
Ev.& lnd'p,con., 1926.6
- .... 108¾-109 111 ..111¾ 111 - 111 111 -111 I l l -112 111 -112½ 115 -115 113¾-115 115 -115 114 - 114 113½-113¾
Ev. & T. Haute-Con .. 6 115½-117¾ 115½-118¾ ... - .... 118 -119 119 -120 120 - 120 117½-117½ 123 -123 118 -119 118 -118 118 -118 118 -119
Mt. Vernon-1st ....... 6
- .... ll2 -112 112 -1 12 110 -114¾ 115 -116
- . ... 124 -125 1223,s-122¼ 122¾-128 . . . • Flint& P. M.- Mort . .. 6 121¾-121½ .... - . ... .... - .... 120 -120 122 -122 122 - 122 122 -122
- . ... 107½-107¾ 108 -108 104¾-104½ 105 -105
1st cons., g., 1939 . . . ii .... - . ... .... - . ... . ... Ft.W.&Denv.C.- lst .6 90 - 95 94 - 96 92}4- 94½ 92 - 05¾ 95½-101 96½- 98¼ 9:? - 97¾ 92¼- 95¼ 949:(-101½ 99½-104% 103½-109 103½-106~
- .... .... Galv. H. & H. of'S2.. ~
- . . . . 70 - 71
... 'il:¼- 78
73¼- 74
- • . • . ••• • Gal. H. & San A.-lst .. 6
- .... ... - .... . ... - .... 109½-l0fl½ 110¼-110¼ 110- 110 .• . • - •••.• .. - .... 106)4-106¾ 108 -108 106¾-106% • .• • - ....
2d mort, 190~ ......... '7 98 -100¾ 100¾-103 103 -104¾ 107 -107 107 -107½ . . . . - .... 103 -103¾ . . . . - . . . . . . . . - .... 100 -100½ . . . . - . • . . 00 -1.00
96 - 95½ 115 - ~~~~-~~~~~~~~~~~~ ~ ~
Western Dlv-l ■t ... . :} ~-95
Ga. Co., N. C.-Col. tr.. ~
- . . . . . . . . - . . . . • •·
- . ... .... - .... . .. - . . . . 99%-100 . ..
- .... . ... - . ... 00 -100
Ga. So. & Fla.- lsr, 1r. 6 .... - .... ... . - . ... . ... - .... 101 -101¾ 98½- 99 . . . . - . . . . • . • Gr. Rap.& lnd.- Gen .5
- .... 90¾- 90¼ •··· - ....
- . . . . 95¾- 95¾ 95½- 95½ . . . . - .... 97½- 98 95 - 95¾ 97 - 97 • • • . let arunr ................. '7 .... - .... .... - . ... . ... •... 120 -120
- •... 80 -80
79 -80
83 -83
84 -84
Gr.B. Win.& St.P .-1st. 6 75 - 80 75 - 80 88 - 88 BS - 88
- .... 78 - 81
1 -82
82 -83
80½-81
1st M., coup. off"...... ti
- . ... .... - .... .... ~,lncome ... .. . ... . .... 8 18 - 24½ 20 - 25 20 - 2~ 19 - 22 20 - 217,il 19¾- 10¾ 13 - 17¼ l!1 - 17 16½- 18 13 - 16 13 - 14¼ 18 - 18
Han. & St. J o.-Cons. 6 120¼-122¾ 122¾-124 120½-121 120~-122 121¼;-122 122½-123½ 122¾-123½ 123)4-123¼ 119 -119½ 119 -119 117 -119¼ 117 -119¾Hen. Bridge Co.- lst .. . 6
- .... 111 -111 . ... - . . . . .. . . - ... . 109½-109¼ . . . . - .... 110 -110
- . . . 109½-109!,{
Housat'c- Con., 193,. .. ii 106¾-10?¼ 107½-l~ 107¾-108¾ 107½-108½ 105!4-105% 106 -106½ 1049:(-104¾ .... = .... '106½=106½1106¾=106¾ 105 =1~~ .. ~~~ =106
126¾
Hou ■ .&T.C •. -lst,M.L.'7
-127 .... - .... . ...
M. L. Trust rec . . .... , 116¾-119 120 -124½ 122½-126½ 128½-125¾ 124J.4-125¼ 124½-125½ 124¾-126 120 -121 116½-117 114 -116 116¾-116¾ 115½ -116M
1st, Western Div ...... , 126 - 126¾ ...
.... ·•· , Trust receipts ...... '7 113 -118 119 -124 124 124 124 -125½ 124½-124½ 125 -125 125 -126 125 -127 .... - •.•. 113¾-115 116 -116
W.&N.Dlv ..... .. .... '7 105¾-105½ .... - .... 105½-105½ .... - ....... - .... .. .
2d, M. L., trust rec .. 8 112 -112½ 118½-118¾ 116 -118 118 -120 121 -121¾ 120 -121 120 ··121 ·121 -124 125)4-125% 120 -124½ 120 -120 120 -120
Gen. lll., Trust rec ... 6 70 - 71¼ 72 - 76% 75 - 76¾ 74¼- 79!4 77½- 78½ 78 - 78½ 78 - 79¼ 77%- 82 80 - 83½ 78¼- 80½ 79 - 79
78 - 78
Ill; Cent.- G., 19~1 .3 ¾ 91¾- 95
95½- 95¼ 94¼- 95
9S)i- 93½ 92½- 95
95 - 116¼ 95 - 05
05 - 95
94¾- 94¾ 94¾- 95
- . . . . 95 - 95
Registered .... .... . 3 ½ 90 - 90 ....
.... .... .... 94 - 91 .... - ....... .
lat a-old, 19~1 ........ 4 105 -106 106 -109 108¾-109 109 -109 1083,s-110 110 -110½ 107 -108 109 -109 106¾-108¾ 109½-109½ 109½-109½ 109¼-109½
Gold, 1952 ....... .. ... . 4 100 -100 101 -101¼ 101 -101 00 -102¾ 101¼-102 101¾-102 101¼-102 102¼-103 102¾-103 100 -101 . . . . - . ... 101 -101
- .. .. . • . . - . . . . . . . . - . . . . . . . . - . . .. 113¼-113¼ 113¾-114¼ . . . . - ... .
Sprlna-1. Div., ' 98 . . . . 6 ... - . ... .... - . ...... - .... 115 -Ill> . . . . C.St. L.&N .O.- lst,c.1' 118¾-119 120½-120½ .... - .... 119}i-120 116 -116 . ... - ... . 118 -118 118 -118 119¼-121 121½-121½ 119½-119½ 118½-118¾
- ..... . .. - .... . . .• - •. •.... . ...... 121 -121 .... ·- ..... . .. - •. ..
Tennessee lien ...... ,
- ... 120 -120 . .. Gold, coup .... ........ :} 115¾-116¾ lltl¼-117 116¾-117 117 -119 119 -120 118 -120 117½-118¾ 118½-118¾ 118¼;-118½ 117¾-119 117 -117¾ 114¾-117
Gold,reg ........ . ..... :i .... - . .. 115 -115 116¾-116% ....
- •.•..... Memp. Div., l s t, 1r.,4 .... - . ... .... - . ... ·· •· - .... 101¾-102¾ 101¼-102 .... - .... 101 -101 100 -100 100½-100½ 98 - 98½
Dub. & S.C.- 2d Div. '1 110½-112 112 -112 111 -111
- .... 112 -112
Cedar F. & M.,l s t ... 't .... - . ... 78 - 78 65 - 65 68 - 70 71½- 78),,, 77 - 77 74 - 74 . . . • 76¼- 76½ 78 - 78 . . . . 75 - 75
r
Ind. Dec. & Spring .1st, ex funded coup .. ,. 100 -103 105 -105 102¾-104
..•... 102¼-104 100 -104¼ 95 .. 97½ 96 - 98
97¾-101 101 -102 101 -101¼ . . . . - . . . . 98 - 98
99 -100
Do. trust r eceipts .. .... - ... .... - . .. .... ln4.Dec.&W.-G.'47 .ii 85 - 85 85 - 90 .... - .... 72-72 .... - ........ - .....•.. - .... 89-89 •... 2d Inc., Ir•• 1948 ...... 5 .... - . ... .... - .... .... - ........ - ........ - •... 32½-40 ...• - ........ - •... 30-30
Intern. & Gt. No.- lst.6 109 -1◊9½ 102 -108 102¾-103½ 100½-10~ 108,rl04½ 104 -104½ 102 -104 102¾-106 104¾-107 103 -104¾ 104 -1053,s 103¼-109
67
71
63¼
67
62 - 64
63½- 65
62½- 65¼ 6a - 70¼ 66 - 66
64
~oupon, 1909 .... ·: ... . 6
- 74½
66 - 69½ 69 - 70
~ - 73
- 73¾ 63¼- . . . 65 - 65
6T> - 70
65¾- 70¼ 67 - 69½ 69 - 70!4 69 - 7~
Do. trust receipts ..
- .... .... - .... .... Iowa Cent.- lst, gold .. :i 79 - 80¾ 80l'-(- 86½ 86 - 90 86 - 88 87%-- 90½ 85 - 89 82¾- 85¾ 85 - 88 86¾- 87½ 85 - 88½ 88 - 90 85 - 86
K.C.Wy.&N.W.- lst.5 .... - ...
- .... .... - . . . . 93½- 94½ 94¾-100 . . . . - . . . . .. . . - . . . . . .. . - •... ·• · · - · · · · · · · • Kentucky c., 198,-.....4 71½- 79¾ 79 - 80 78¼- 80¾ 78¾- 80 79¾- 84¾ 84½- 90 87 - 88¾ 85 - 87¼ 86½- 87 82 - 86 85¾- 86½ 85 - 86
Kings Co. El.- l s t, A. ii
.... .... . ....... - ........ - ........ - .... 106!4-106¼ 104 -104½ 10-1 -104¾,104 -104¾ 103¾-104 104½-105 106 - 107
Lael.Gas, St.L.-l s t , g.5
- ....
ii0¾=1ii .. ii.i¾=113 .. ii2¾=1i3¼ ii~~=li2¾ iiz¾=113~,ii:3¾=1i6" ii2½=114¾ 1
Lake Erle&W.- lst .. 5 107 -108
. .
Lake Shore & M. So.Cl. Palns.&Asb ...... 7 112½-112½ 113½-118½1.... - .... 109 -109
'
Buff. & Erle-New .... ,- ;122¾-125 124½-124¾1 ...• - .... 120 -120 . . . . - .... 122 -122 • . . . - . . . . 119 -120 11~-119¾ 120 -120
Kai.& W.P.- lst .... 7 !102½-103
.... 103 -103¼ .... - .... 104½-104½ 101¾-101¾ 102 -102 101¾-101¾ .... - . ...•••. - ..•. 103~-103~
32½ . . . . - .... 184 -184
Det.Mon.&Tol ..... . 7 , .... - ....
- . . . . . . . . - ... 130 -130 . . • . - . . . 130 -130
........ . ... 122 -122 123½-125 125 -125 125 -125 .... - •....... - .... 119¾-119¾ 122 -122 124¾-~
L. Shore-Dlv1dend .. '7r·· - ... ....
1st con., coup ........ ~ 125¼-1277,i 127~-129 128 -1 28¾ 1128 -129 128½-lS0 180 -180 126¾-126¾ 126½-127 126¾-126¾! ... . - . . . 128 -1~126¼-127¾
, lat con., reg . ......... ,- 125 -127¾ 127',1-127¾ 128 -1 28 126¼-126¼ 127 -127½ 125½-125½ 126¾-126½ .... - ... . 125¼-125¼ 1125¾-121) 126¾-126 .... - ... .
~d con., coup ......... , 124 -125½ 126¾-127½ 12™-127'¼ 126½-128 128 -180¼ 126 -127 125 -126 126½-126½ 127 -127 12~-128 128 -128 124½-125¾
9d con., rea .... . . .. .. '7 IB-i - 125 126 -126 12~-1 27 126¼-127 125¾-128¾ 127 -127 125 -126 125¾-126½ 127 -127½ 125 - ~
~
-127 122 -124½
Mahoulnar Coal RR . . :J 107 - 1 ~ 1()8¼-109 111 -1 11 109 -109 .... - •.. . 112 -112 .... - . . . • . .• - •..•• •• • - •... •••• - ••.... . . - .•.. 10e -lll
Lltcll. O.& W.- l at, g .8 ....
.... 98 - 98 100 -100 98 -1~ 1~100.lia 100%-1 . • . . - • •. • • • • . - • • • • • . • • - • . • . •••• - . . . . ~ . --~ - ... ,
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
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RAILROAD
BONDS.
1889-Continued
BONDS,
__________
J.A.NU.ARY FEBR'RY.
MARCH.
.APRIL.
M.AY.
JUNE.
AUGUST.
JULY.
OCTOBER. N0V'BJm. DJIO'BD
_ _ _ - - - - - - - - - - - - - - - • - - - - - 1 - - - - • t - - - - tSEPT'BER.
----l•----1----•I----
Low.Hlgh Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High
1
Long Island-1st, '98.7 .... - ... . . . - .... 122¼-123 123 -123 ..•• - •••. 121¾-122 119½-119¾ 122 -122 123¾-123¾ 120 -122 120 -120¾ •.•• - •.••
1st, consol, 1931 ... .. .:i 114¼-114½ 115¾-115¾ 116 -116~ .•.• - .... 115¾-117¼ 115¾-117¼ 115 -116¾ 118¾-116¾ 117¾-117¾ 116¾-116¾... - ..•• 97¼- 98
Gen, mort,, 1938.... 4 92¼- 97 97 -100 99 -100 ~-101 100¾-102¾ l00¾-101½ 100¼-101 100¾-100¼ 98¼- 99
98 -100¾ 99 -100 •••• - •••.
N. Y, & R, B . .... ...... ~ 108¾-108¾ .. .. - •... 103 -103 102 -102 .... - ........ - ...••. - ........ - .....•.• - ........ - ........ - ........ _ ••••
Zd, income.. . ... . . . . . . . . . . . - . . . . . . . - . . . . . . . . - . . . . 35 - 85 • •.. - . . .. . . . . - . . . . . • . . - . . . . . . . . - . . . . . . . . - . . . . . ... . - . . . . 27 - 28 . . . • - • ••••
N,Y,B,&M,B,,lst .. ~ ... - .... 10!¾-102½ . ... - .... ... . - ........ - ....... - .......• - ..•..... - ........ - .... 103 -103 .... - •....... - .••.
N, Y, &Man. B., lst.7 ... - ........ - .... 112 -112 .... - .....•.. - .... 112½-112½ ... . - .....•.. - ....... - ........ - .....••. - •••. .... - ••. .
Brook,&M,,lst,'11 .. ~ .... - ... . •··· - ........ - ........ - .... .... - . .. •··· - .... ... .
. ....... - . .... ... - ........ - .... 110¼-110¼ .... - ••..
Louis, &Nashv,-Con.111~-120 120¼-120½ 120¼-121¾ 117½-119 119 -120½ 120 -120 120¾-121¾ 120 -120¾ 119%-120¾ 116¾-117½ 117 -117½ 117¾-118¼
Cecilian Brancb ...... '7 .... - ........ - .. .. 107:1,(-107¾ 112 -112 112½-118 113 -118 lll¾-113 .... - •... 104 -105 ...• - . . .. 106 -106 106 -1()7
N. O, & Mob-lst ..... 6 lll¾-114 113¼-113¾ 11~~115 116¼-116¾ 117¾-!17¾ 118 -120 117 -118 . .. . - ........ - .... 115 -117½ 117¼-118 117 -118
2d ................. ...... 6 .... - .... 100 -100 100 -105 104¾-106½ 107 -107¼ 107 -107 .... - .... 105 -105 105½-107 109 -110 ••• • - •.•• 107¼-llO
E. H. & Nash.-lst ... 6 116 -116 117 -117 .•.. - ..•. 117 -117 117¾-118¼ 114¾-115 115½-115½ 116 -116 117 -117 115 -115 ..•. - ••.. 11$¾-113¼
General mort . .. .. .... .6 112 -11~ 112¾-113)4 118%-114 113½-118¾ 11e -118¼ 114%-115½ 114 -115 114 -114 114 -114¾ 114¼-115 115¼-118¾ 1.12. -118
Pensacola Div, .... .. . ti .... - .... ••. - . .. . ... - . . . . ... - ... .. .. . - ........ - .... 110 -110 .... - . ... 110 -110 •••• - .•.••... - •••. 109¼-loo,.(
St. Louis Div,, Zd .... 3 .... - ........ - .. . . 69 - d2 ..• . - ....••.• - •.••.•.• - .•.••••. - ••••.... - .....•.. - . •• . 66 - 66 .... - ........ - ..••
Nash. & Decatur...... 7 119¾-121 .... - .... 120 -121¾ 121¾-121~ 123 - 123 125 -125 .... - ....... . - .... 122¼-122½ ...• - ........ - . .. 123 -123
Trust bonds, 19~Z ... 6 109J-{i-112 111¼-112¼ lll¼-118 113¼-114 114 -115¾ 114 -114 ll.2¼-114 111¾-112¼ 110¾-112 109½-111 UC' -ll0'7A 109¼-110
Ten-Fortv, 19Z4 ..... 6 101½-101½ .... - .... .. .. - .... lOf>¾-106 105 -105 .... - ...•.... - ........ - ....... . - . . . . . .• - . . . . _ ........ _ •.••
Pensac. & Atl,-lst .. 6 98¾- 98½ 96 - 99
lt8 - 98¾ 98 -105 104¾-106¼ 104 -104¾ 104 -106 102 -102 101 -107 106½-107 106¾-106¾ 106¾-109
~O-yr. gold, 193,-.. .. :i 98 -1~ 100%-101¼ 100¼-102½ 101¾-105½ 10~-104 104 -104¼ 105 -105½ 104¼-104½ 105¾-107 105 -107 103½-105 104 -106
Col, trust, g., 1931 ... 6 96¾- 96¾ 96¾- 97¾ 97¾- 9~ 98½-108¾ 100 -101¼ 101 -108 102 -102½ 102¼-102¾ 102 -104 103½-105½ 103 -105 104 -1~
Nash,FJ.&S,,lst,gu.~ . ... - .... . ... - ........ - ... . .... - .... 98¾- 98¾ 98¾-100 99¾-100
97%- 98
97¾- 98¼ 98¼-100¾ 100¾-102 102 -102¼
Lou.N.Alb,&C,-lst.6112 ¼-114¾113 -117 116%-117 118¼-121 120 -121~120 -122 117½-118½117 -118 117 -119 117 -118 117½-119 115 -119
Con,,. gold, 1916 .. .... ti 93 - 94½ 94 -102 100 -102½ 97!'-(-102 102 -108 102:),(-104 102½-103% 102¾-104 103½-106 101 -103 101 -103 100 -103¼
Lou, So,-lst, g,,'17.6 .... - ........ - .... ... . - ........ - ........ - ........ - ........ - .... 95 - 99% 96 - 98¼ 97 - 98% 98½-102 100 -103
Louis, N. O. & T.-lst .4 87 - 87¼ 87¾- 87½ 85¼- 85¾ 85¾- 86¼ 86½- 86¾ 86¾- 88% 88¾- 90% 90¾- 91
89 - 90½ 90¾- 90¼ 90 - 90% 90 - 90
2d mo1·t,. 1934....... . ~ 40 - 40 ...• - . . . . • • •• - . •• • . . . . - . . . . 45 - 45 . . . . - . . • • . . . . - . . . . . . - . . . . . . . . - . . . . . . . . - • . . . . . . . - . . . . . . . . _ •.••
L,St,L,&T.-lst,g,'17.6 .... - ........ - ........ - .... ..... - ........ - ....... - ........ - .... 96½- 98½ 98¼-100
99 -100
99½-100¼ 99%-101
l'tlem.& Chas,-Gold ... 6 102½-102¾ 1027,i-103¾ 103 -104¾ 104¼-107 106¼-108¼ 108 -109¾ 107 -107¾ 106½-106½ 105¾-106 105¾-106¾ 105¾-105½ 104¾-106½
Metropolitan El.-lst .. 6 111%-1141116½-117¾ 116¾-117½ 115 -117 117 -117'7,i 117¾-120 115 -115½ 114¾-115¾ 114¾-116¾ 116 -117 115¾-118¾ 115¾-116
2d, 1899 . ... ........ .... 6 106 -109 108 -110 107%-109 108½-110~ 107 -111½ 1083,4-109½ 107 -107¾ 106!':(-108 108 -108¾ 108 -109 105 -106 105¾:-106
Mex,Cen,-New n.ssen.4 68¾- 70
70 - 70½ 71 - 71
... - .•...... - •.. : .... - ••....•• - ...... . . - ••....•• - ••.. ••
- •.....•• - •••....• - ..•.
Income, 1911 ...... .. . 3 21¼- 21:¼ .... - ........ - . . . .
. ... - •••. 30 - 30 ...• - •....... - ........ - •.•.•... - ... . .... - ....•••. - ...•
Mex. Nat.-lst, 19~7·.. 6 99 -JOO 102 -102½ 102 -102 .... - . .. . . .. - •.•. .... - •••..... - ........ - ........ - •... 101¼-101¾ . . .• - •.•.•••• - ••.•
Zd income .. A" ........ 6 62½- 66¼ 64¼- 66¼ 61½- 62¾ 60½- 62
62 - 63¾ 63 - 68 .... - •....... - ........ - ......•. - •••. . .. .
• ...•••• - .. ..
Zd income" B"........ 6 18 - 18 ..•. - .. .. 18½- 18½ 18 - 18 18 - 18¾ 19¾- 19½ ... . - ... . .... - ........ - ........ - .......• - •...•••• - ... .
Illich. Cent-lst,consol. 7 131¾-133 182 -182½ 182 -138½ 132 -133½ 180~.(-181¾ 131¾-182 130 -131 129¼-131 130 -130½ 129 -130 126½-127 126 -126¾
1st, comJOI ...... .. ...... ~ 111 -111 111½-112¼ •••• - .... 112¾-112¾ ll4 -114 .... - ........ - ••.. 114 -114 .... - .... 110½-112 110 -110 •••• - ••• .
Coupon, 1931. ........ .:, lll¾-111½ . . . . - .... 112 -113 118 -118 . . . . - .... 115 -116 115¼-115½ . . . . - . . . 112 -112 112 -112 • . • • - ••...... - ..••
Registered, 1931 .. ... ~ 111¼-118 .••• - .... 112 -112 . .. - .. 116 -116 .... - •....... - ........ - .......• - •......• - ••...... - •... 110¾-112
Jack.L,&Sn.tr,1891.6 105 -105 .... - ........ - ..•..... - ......•. - .... . . - •.. 106¾-106½ 106½-106½ 102½-103½ ...• - ....... . - .•.•..• - .•••
Mil. L, Sh. & W,-lst .. 6 118¾-119¾ 119¾-121¾ 121½-121% 120 -123½ 120¾·123¾ 123 -125½ 124 -125 123:1,(-125 124½-128 127 -127¾ 122½-124 121 -124
Conv, deb, 19O7' ...... :i 92½- 95¾ 93½- 99¾ 99 -101!14 99 -103½ 101%-104 108 -104 104 -104¾ 103 -103 1()2%-102% 104¼-105 104¾-105 102¼-103¼
Ext. & Imp,, 8 , t ... .. .:; .... - ........ - ........ - ... . 10314-103½ 108¼-104¾ 103 -104¾ 103%-105¼ 102 -103 102¾-104 104¼-105¾ 1()4¾-105¾ 103 -103%
Income ... .............. .6 .... - . .. . 99 -103 100¾-104 101¾-103½ 100 -108 106¼-106¼ 105 -105 106¼-106¾ .... - ........ - ........ - . . .. 108 -108
Michigan Div,, lst ... 6 .... - ... . 115 -115 l15 -116 116 -!16 116 -117 .... - .... 114 -114 .... - .. ..
- .•.. 115 -117 117 -119 117¾ 119
Ashland Div., 1st .... 6 114 -115½ 116 -llo 116 -116 .•.. - ... . 118¾-118 .... - .... 118 -118 1.... - .... 116 -U6 116¼-117 118¾-118¼ ll{l½-120
MIi. & No •..:....ls~ 1910 .6 106½-109½ 10$½-109¾ 109½-110¾ 110½- lll 110¾-111 107¾-108 109 -109½ .... - . .. . 108:)4-110 109 -110 109 -110 107 -110¼
1st, on exten,,.1913 .. 6 105¾-106½ 106711-108 108 -109½ 109 -109 108½-109 105¾-107¾ 106 -107 1106¾-106½ 106 -106¾ 106¾-106¾ 107 -108¾ 106 -10~
ll'llnneap,& St.L.-lst . 7 90 - 90
90 - 92
92 - 92 .... - ... .. ... - . .. . 92 - 92
95 - 97 .... - .... 96¾-101
- .... 102 -105
Iowa Extension ...... 7 80 - 80
81 - 81
81 - 82
81½- 81½ 81 - 81
85 - 85 . . . - . . . . . . • . - . . . . . . . . - • • . . 85 - 85
85 - 85 • . . .
.. ••
Zd mort,, 1891 ........ ,- . . . - . . . . . . . . - . . . . 50 - 50 . . . . - . . . . 42 - 42 43 - 52½ 50½- 50¾1.... - . . . . . . . . - . . . . 50 - 50 . . • . - • • • . 60 - 60
Southw'st.Ext.-lst.7
- ........ - ...... .. - ........ - ... .. ... - ........ - ....... - ...... .. - ........ - .... 77¾- 77½ 70 - 70
75 - 75
Imp, & equip,, 19ZZ.6 ... - .... 55½- 55½ .... - ........ - ... . .... - .... 52 - 52
53¼- 53¾ .••• - •...•... - ..••.... - .... 57 - 57
60 - 62
Minn.S.S.M.&At.lst.~
- .... 90¾- 91½ .... - ...... •. - . .. . .. - .... ... - ........ - . ... ...• - •••..••. - •....... - ....•••• - .••.
Mo. Pac.-lst consol .. . 6 110½-113 112½-114 113¾-114½ 115 -115½ 111¾-118 112 -112¼ 112:)4-114 .... - ••.. 113 -114 113¾-113½ 107 -109 109 -109¼
3d, 1906 ..... ... .... .... '7 116¾-118¾ 118¾-119:J:{ 118¾-120 121½-121½ 118 -::.18½ 120 -120 .... - •• ....•.. - ... 121 -121¼ 119¾-119½ 112 -114 113 -114¾
Trust gold, 191'7 ..... ~ .... - .... 93¼- 94
98¼- 94¾ 94%- 94¾ 94¾- 94¾ 98¾- 99¾ 99¾- 99% 99%-100 •... - ........ - ........ - .. .. 98¾- 99
.Pac. ot Mo.-lst, ext .. 4 97¾-101
98¾- 99
98½- 99
98¾-101 101 -102 102 -102¾ 102 -102¾ 99 - 100
99 - 99½ 98¾- 99¾ 98¼- 98¾ 98¼- 98¾
2d, 1891 ...... ........ ,- 104 -105 104½·105 105 -105 105 -105½ ...• - ......•. - ••.. 103:¾(-103¾ ... . - . ....... - .... 103 -103 104 -104 104 -104
Mo. K.&T,-Gen, con.6 54¾- 62
54½- 59
54 - 56¼ 53 - 57¼ 57 - 58¾ 57¾- 64½ 61 - 63¾ 62¾- 65
63 - 65¾ 63 - 68
65¾- 70¾ 68¼- 76
Gen.consol, 1920 .. .. :; 51¼- 57¼ 52 - 54¾ 51 - 58½ 50¾- 58 58½- 55¾ 58¼- 60¾ 56¾- 58½ 57½- 59¾ 57 - 59½ 57¾- 60
57½- 62
61 - 65¼
Consol,, 19O4•:i-6 . ... 7 90 - 92½ 90 - 92½ 87¾- 91 87½- 90
90¾- 94¼ 92¾- 97
95¾- 97
94¾- 96
94 - 96
93¼- 99¾ 99 -107 106 -111
Han.&Cent.Mo.,lst,7' .... - ....... - ....... . - ........ - ........ - .... 100· -100 .... - ... .. .. - .... .... - •••. 100 -100 ,. .. - ........ - •...
Tebo & Neosho, lst.7 .... - ........ - ........ - . .... .. . - .... .... - . ... . . .. - ...... .. - ........ - .... . ... - ........ - ........ - ... . 100¼-100~
Moblle & Ohio-New .. 6 .... - .... 112%;-118¾ 113 -113 llS¾-114½ 116½-116½ 114¾-114.½ lH -116 .... - .... 116 -116 118¼-120 118}:(-118½ ll5 -115
1st, exten,, 19z,- ...... 6 .... - ........ - .... 108 - 108 106 -106 106 -106 107¾-107¾ .. .. - ..... .. • - ... ..... - .... 107 -107 .... - ........ - ... .
Gen. DI., 1938 ...... .. .4 41~- 43
44 - 50¾ 46 - 49
49 - 5214 51 - 52¾ 52½- 58
53 - 57¾ 55¾- 58
54 - 58½ 58 - 60
57½- 59
56 - 57¼
_.,1st pref. debent . .......... .. - .... .... - . ., .... - ....... - ........ - ........ - .... 61¾- 61½ .. . - .... .. - ........ - ... 64 - 64 ..•. - •.••
et.L.& Cairo-Guu.r.4
- ........ - . . . . 72 - 72 . . • ~ •. .. 72 - 78½ 80 - 80
76 - 75
75¾- 79
77 - 78
78 - 78
77 - 77
77 - 77
Mo1•gan'sL,&T.-lst .. ti 116 -116 115 -115 115¼-115¼ .... - ....... - .... 116 -116¾ .... - ... .
- .......• - •.....•• ...... - .... ll5 -116
1st, 1918 ........ ....... ,- .... - ....... - ... . 124 -126 122½-12S
.. - .... 126 -126 124 -127 i27 -127 .... - .... 123 -125 124 -124 125 -125¾
.lllutual Un. T,·-S, F .. 6 99 -102 102¼-102¾ 101¼-102¼ 102 - 104¼ 101¾-103 102%-103 100%-100¾ 101 - 102¾ 101¾-102¾ 103 -103½ 100 -101¾ 100¼-102
Nashv,C.& St,L,-tst. ,- 129 -130½ 181 -131¼ 188 -133¾ 183¾-134 184 -185 188 -138¼ 135 -135 133 -135 138¾-134 183%-134 134 -134½ 1~135
2d, 1901 . .............. . 6 107¾-110
... - ..•. U2 -112 112 -112 .... - ........ - ........ - ...... .. - .......• - .......• - ... .. .•• - .......• - ...•
Consol. tr,, 1928 ...... :i 9$¾-101¾ 101½-108 104¾-105½ 103¾- 104¾ 105 -106 105!)4-107¼ 107 -107 106¼-107½ 106¾-107 104¼-105 106 -107 106¾-107½
Tenn, & P. Div., lst.6 .... - ... .... . - .... 120¾-120½ .... - ........ - ........ - ......•• - ..•..... ......... . - ..•• - ••.••••• - ........ - ... .
New J. South.-Guar .. 6 .... - .... lOS -105 .... - .•...... - ........ - ........ - •.....•• - .... ... - •...
- ....... • - ....... , - •...••.• - ... .
N. Y. Central-Ext ...... :i 104¼-106 106½-107 t00½-107 106%-107 104 -106 105 -106 104¾-105¾ 105 -105 104:)4-105¾ 104¾-106 103¼-103¾ 103 -108¾
N.Y. C,& H.-lst,cp .. 7 133 -135½ 185%-135¾ 185½-186¾ 186 -136 135¾-186¼ 187½-187½ 133 -135 134 -135¾ 133 -134 132¾-135¾ 133 -134 133¾-1~
1st, rear .......... ...... 7 188¼-135 135½-135¾ 185¼-135¾ 135 -185¼ 135½-186½ . . . . - ..•. 132¾-133¼ 133¼-133¾ 132¼-132¼ 133 -133 133 -133¾ 129 -1~
Deb., 1884-1904 ... :i 111 -111¾ 112 -118¾ 111½-112¾ 111%-112 118 - 114 115 - 115¼ 115 -115 114 -115 lll¾-112 lll¾-111¾ llQ¾-111¼ 110½-111
Registered ........ . I) ..•• - •••.•••• - •••• 112¼-112¼ .... - ... 118 - 113 ... - .... 112 -112 114 -114 .... - . . . . ... - .... 111 -111 ..•• - ... .
Deb. reg., '89-19O4 .. :i .... - ........ - . .. . . .. - .... 112 -1!2 112¾-113 .... - •....... - ..... ... - . ...... . - .... 112 -112 .... - ........ - ... .
Harlem-1st, coup .... 7 .... - ....... - .... 184 -184 .... - ... 131¾-131¼ . .. - .... 130½-130½ ... - .. ..... . - .... 129 -129½ 126¾-127 127¾-127¾
1st, reir ... ............ ,- 130 -181¼ . . . • - .••• 133¼-133½ . . . . - .... 129 -131 131 -181 129½-131 . . . - .... 129 -129¾ 125¾-130 125¾-127 126¼-126¼
N. J. Junc., lst. gu .4104 -104 108¼-108¼ 104 -104 105 - 105 105 -105 105¾-105¾ •••• - •. .. 104½-104¾ .... - •... 104¼-10!¾ .... - •.• .•.•. - ....
West Shore, guar .. 4 102¾-106 10;5¾-106¾ 105%-106¾ 106 -107¾ 107¼-108½ 108 - 109¾ 106)4-107 105¾-107 105%-106¼ 105¾-106¼ 105 -106¼ 105¼-107
Registered ............ 4 102¾-105¾ 106 -106¾ 105¾·106¾ 105¾-107 107 -108½ 106 -109¼ 106¼-107¼ 105¼-106% 105½-106½ 105 -106¾ 104%-106 103%-106¼
N.Y.Chtc.&St.L.-lst.4 91¾- 94¾ 94 - 95¼ 94%- 95¾ 92¾- 95% 95 - 97
96%- 98¼ 95 - 97¾ 94 - 96¼ 95¾- 97
92¾- 95
92¾-94¼ 94 - 94U
Registered ...... .... .. 4 . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . 94 - 94% . •. • - . •• • 91¾- 94 • •• • - •••.
N. Y. Elevn.ted-lst ..... 7 116 -117¾ 117 -118½ 116'1,,t-117¾ 117 -118¾ 118¾-121 120 -121 116¼-118 116 -116¾ 116¼-116¾ 116 -117 116¼-117¾ 117 -118
N,Y.&N.E.-lst,19O:i.ti .... - ....... - ....... . - ........ - .. . . .... - .... ···· - ···· ···· - ·· ·· · ··· - ···· llS½-118½ ... . - ···· ll~-117¼ .... - ... .
N. Y.N.H.&H.-lst,rg.4 111 -111¼ 111¾-112 .... - ........ - ..... ... - .... 110 -110¾ •••• - .... llQ¾-110¾ 110¼-110¼ .... - ......•• - ..•..... - ... .
N.Y. & .North.-lst, g.:i 108 -108½ ... . - ........ - .... 107 - 108 .... - . ..... .. - ••••.... - .... 110½-110¾ ..•. - •.•. 109 -109 111 -111 111 -111
Zd, gold, 1927' ......... 4 . . . . - . . . . 50 - 52 51 - 58¾ 51¼- 53½ 54 - 58
57 - 59
55 - 55 1 53 - 54
52 - 52½ 53 - 56 . . • • - . . . . 53¾- 58¾
N.Y.On.&W.-lst,g .. 6112 -114½114 -115 110½-112 110~- 112 111½·112¼112¾-113¾113 -113½113½-113½
111½-lll½lll½-lll¾lll¾-1 12 112 -112¼
N~;~;:l;q~=~~9 -... :i .... - ........ - ....... - ....... ~ ·· ······ - .......• - ........ - .... 1.. ·· - . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . 98 -99%
1
1st refund, 1937 ..... :i 94 - 1J6¾ 116 • 977,i 97½- 00 98½- 99½ 99 - 101¼ 1c1 - 103¾ 100 lUl¼llOQ¾-.w1¾ 101 -101½ 101 -101¼ 101 - 102¼ 100 - 102
2dmort., 1937 . . ... 4¼ · 77½- 77¾ 77¾- 77¾ 77 - 78¾ 77%- 78¾ 78-'/4- 81¼ 80¾- 83¾ 83 - 83¾ 81½- 82
81½- 81¾ 80½- 81½
- .••.... • - ....
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
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68
R.AJL.ROAD BONDS.
1889-Contlnued.
NUA.RY FEBR'RY, MA.RCH.
APRIL.
MA.Y.
-----------1·----1·---------------,---Nol'folk & West.BONDS.
JUNE.
JULY.
AUGUST. SEPT'BER. OCTOBER. N0V' BER. DE0'BER,
Low.High Low.High Low.High Low.High Low.High Low.Hiirh Low.High Low.High Low.High Low.High Low .High Low.High
·---
---- --·- - -·----1----
General .............. .. :o 117¾-118!4 118¼·119 1193,(-120 121¾-121¾ 119¼-120 120 -121.% 120¼-120¼ 120 -120 120¼-120¼ .... - ........ - ........ - .•••
New Rlver-l8t ...... ,6 112¼-112¾ .... - .... ....
.. 114 -114½ 115 -116¼ 115'4-116 116¾-117 116 -116¾ .... - .... .... - .... 112 -114¼ .... - ••••
Imp. & ext., 1934 .... 6 .... - ........ - .... 108 - 108
.. - ....... - ... .. ... - ........ - ........ - ....... - ........ - ........ - ........ - .. ..
Adj. mort., 1924 ..... 7 110¼-11~
- .... 111 -111 .... - ....... - ....... - ........ - ....... - ........ - ........ - ...... .. - ........ - .•..
Equipment, 1908 .... /j . . .. - ........ - ........ - ........ - ........ - ........ - ........ - ........ - ... 97¼- 077A .... - •....•.• - ........ - ... .
Clinch Vo.I., lat& eq./J .... - .... 92),(- ~ .... - .... 98 - 03
~ - 95¼ 95 - 07¼ 95¼- 97
06¼- 99¾ 97 - 99¾ 98 - 98¼ 97 - 99 98 - 9~
Northern Po.cUicGen. tat, lo.nd p-ant.. 6 115¼-116¾ ll~-117'4 117%-118¼ 118 -120 119¾-120¼ 119¼-120¾ 116¼-117¼ 115¾-117¼ 114¾-116 114 -115 113¼-116¾ 115%-117¼
Gen.1st, I. er., reir ... 6 115¼-116¾ 116¼-118 117 -118 118¼-U!O 119 -120 119:l:!-119¾ 116¼-116¼ 116¼-116!':{ 113¼-115 113¼-114¾ 113¾-116¾ 112¾-115¾
Gen., I. gr., 2d, 1933 6 112 -114¼ 113¾-116 115 -116¼ 114 -115 114 -115¾ 114~-115¼ 114¾-115¾ 115 -117 113¼-115¼ 1()9¾-111 109¾-112¾ 111¼-112¼
,~en., gold, 3d, 1937.6 97¾-102¾ 102¾-106 104¼-105¼ 105¼-108¼ 108 -110 104\14-106¼ 105 -106¼ 105¼-107¾ lO'n4-llO 107 -110 108 -111 108¼-110¾
Dlvhlend scrip.......... ... . - ... . 100 -100 .... - ... . 108 -103 105¼-105¼ 105¼-105¼ .... - .... 103 -103 103 -103
... - ........ - ........ - .. ..
~~:::i~::i.~;;~.-.-: ~:
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=1~~ ..
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Hel.&Red:Mt., tst .. 6 .... ..... - ........ - ...... .. - ........ - .... ....
... . ....
. ... - .... ,102 -102 101 -102 100 -102
Spokane& Po.I. s. f..6 103¼-103¼ 108¼-105 105 -105 107¼-107¼ 106 -1~
.... - .... 108 -108¼ .... - ........ - ... 103¾-104%
Dul. & lllo.n., 1st ..... 6 !00¼--108½ 104¼ 106¼ 108 -108),( 1081.Ai-109!':{ 110 -112 U2~-112¼ 110 -110¼ 109¾-112 109 -109 1106¼-107 108 -113 110 -110¼
Do. Dak. Div., tst.6 99%-108 102¾-104¾ 105 -108 ..•. - .... 10{%-111 lil6¾-106¾ 110¾-110¼
.... - .... 106¾-107¼ 107 -107 105¾-105¾
No. Pac.Ter.Co.,lst.6 lQS¾-106 105'.¼-lOi~ 106'f1!-107 105¾-108 107¾ 110 109 -112 110 -111 109 -110¼ 110½-111 109 -109 106¼-109 109 -109
Coeur de' Al.,Gn.tst.6 .... - ........ - .. ...... - ....
. ... - _... 107½-107¼
- ... 107 -109¼ ... . - .... 107 -107 105 -107 . . ..
.. ..
N. P. & Mon., 1st, ir .. 6 .... = ... 102¾-1C5 101¾-102¼ 102 -104¼ lOS¾-105¾ 105%-108¼ 107 -108 107¼-108 102 -105 1101 -103¼ 101¼-104 103¼-105
Cent. Wash., 1st, a, ... 6 ....
.. .. .... . - ........ - .... 108¼-103~ 103¼-105
- ... . ... - ........ - ........ - ........ - ....
- ........ - .. ..
Oar. & L. c.-18t,con ... 6
.... - ........ - . .. . 98½- 98¾ .... - ....
- ........ - ........ - . . . . . .. - ........ - ....
- .... · ... - · .. .
Ohio Ind. & w.-tst . .i-i 64¼- 78
70)4- 72
70¼- 74¼ 70¼- 72
72¼- 74¾ 62 - 74
61 - 70
69¾- 80¼ 70 - 83¼ 70¾- 83
80 - 85¼ 80 - 83¼
2d mort., 1938 . ....... IJ .. . . - •·· ..... - ........ - .... 80 - 39 40 - 48 85 - 46
29 - 39
40 - 50
45 - 50¼ 48 - 50
49 - 57
51 - 54¾
Ind. B. & W., tst,pf'.7 115 -115 115 -115 115%-117 ... _ - •... 120 -120 . . - . . .. . .. - ........ - ........ - ........ - .... 120 -120 .... - ... .
Income trust rec . ........ - . . . . . .. - ...... - ....... . - ........ - ........ - . . . . 15 - 16 16¾- 17½ 16 - 16 .... - ...... .. - .. . . • • .. - •· • •
Oh. & M.-Cons. 8. f'.... 7 115\it-116 116 -116 116¾-115~ 117¼-117¼ 118 -lUI 120 -120,.¼ 117¼-117¾ .. . . - .... 117¾-117¾ 117¾-118 116¼-117¾ 117 - 117¼
,con■ol., ums .... ...... 7 115 -115¼ 116 - 116 116 -117½ 117¼-118 118 -119 120¼-121 117½-117¾ 116½-118 117¾-1177,/4117¾-118 116¼-117 117 -117¾
fld, conaol., 1911 ..... ,- 119 -120 1119¼-1!~ 119 -120¼ 118¼-118½ 120¼-124 124¾-126 125 -125
..•. - .... 122 -122 .. .. - .... 122¼-122¼
ll!lt, l!!Jprlngt. Div .... .. ,- 1105¾=106¼ 106¾-100½ .. .. - ....... - .... 111¼-111¼ 112 - 112
__ 110¼-110¼ 112 -112 112 -112 112 -112 ~~~.¾:1~: ..
Gen.mort, 1932 . ... ii ....
. ....... - .... 92 - 92 .... - ........ - ... 95¼- 95¼ 95¾- 9o¼ . .... - ....
•··- - ....
_
100 100
Ohio River RR.- 18t . . ~ 102 - 102 .... - ....
. ... - .... 102 -102 102 -102 100 -100 .... - ... .
100 -100
General, 1937 ........ /j 85 - 85 . . .. - . .. . . .. . - . . .. 80 - 80 . . . . - . . . .
. . . . - .. . . . . . . - . . ..
. . . - ... • · · · · - • .. ·
Ohio Southel'D-lst .... 6 103 -104¼ 104¼-107 106¼-107¼ 107½-107¼ 110 -112 1C9½-111¾ 110 -110¼ 110¼-112¼ 112 -113¼ 112 -112¾ lll¼-112¾ 108 -l09¼
60
57
2d, income .. . . ....... 6 44¾- 48¾ 48 • 49½ 48 - 51½ 47 - 49¾ 46 - 52¼ 49 - 58 54¼- 58½ 57 - 59
57 - 59¾ 58 - 60¼ 57 - 59
66
Gen., irold, 1921 .... . 4 . ... - ........ - . ..
. .. - .. _..... - ... .
. ... - ...
¼-- 66¼
76
75
Omaha& St. L.-tst .. 4 71¼- 72¼ 72 - 75 74¾- 76 74 - 76¾ 76 - 79 78¾- 80~ 77¼- 78
77¼- 77¾ 77¼- 77¾ 75¼- 76¼ 75 - 76
Or. R'y. & Nnv.-bt ... 6 110 -112¾ 110¾-111~ 110½-111 110¼-ll1J4'110¼-113 113½-115¾ 111 -112¼ 112¼-113¾ 113 -113¾ 112¼-113¾ 112¼-113¼ 113 -ll3 ¾
Consol., 192~ .... ... .. ~ 102 -104¼ 104¾-105 103½-105 104¼-105 1105 -105¾ 108¼-105 lOi¾-105¼ 104¼-105¼ 104¼-105 105¼-106 105¼-106 l02u-l04
Orear. Imp. Co.-bt .... 6 104¾-106½ 102 -106~ 102 -lOil':{ 102¼-105¼!105 -106¼ 102¾-108¾ 102 -103¼ 103 -104 104 -105 103¼-105¼ 105 -105¼ lOl:,u-l03¼
Orearou Trans.-bt . ... 6 101¼-108¼ 108 -106 105¾-106¼ 105¼-107¼ 103 -104¾ 103¼-105¼ 104¼-105¾ 104¾-105¼ 104%-105¾ 104 -106¼ 102 -104 103 - l ~
Penn•ylvo.nln. RR.Penn. Co.-lst, cp ... 4¼ 106¼-108½ 108 -108~ 108¾-1()9 108 -109 100 -Ill 110¼-111 109 -109¼ 110¼-110¼ 110¾-111¼ 111 -111¼ 110¾-110" lll¼-lll¼
Reaiatered ......... 4½ 106 -108
108¾-108¾ 107¼-108 108 -110¾ 112 -ll2 ..
- . . . . .... - ... .. ... - .... ....
.. •. - .... l06¾-llO
Plttl!I.C,& St.L.-lst '7 .... - ... 118¼-118½ 118¼-118¼ 118½-11~ .... - ........ - ........ - .... 118 -118 .... - . ....... - .... . .. - ... . .... - .. ..
Pltts.Ft.W.&C.-tst.7 142 -142
... - .... 145 -145¾ .... - ... 150 -150 .... - .... 146¼-146¼ 145¼-145¼ 146 -146 .... - .... 146¾-146),( .... - ... .
2d., 1912 ......... ... , 140 -14.ll,4 145 -145 .... - ........ - ... 145 -147½ 147¼-147¼ 144¼-144¼ .. .. - .... 144¼-144¼ 144!'4;-144¾ . ... - ........ - ... .
3d., 1912 ............. 7 140 -HO 140 -140
140 -140 189 -140 .... - ........ - ........ - ........ - .... 140 - 140 .... - ........ =lZS ..
Clev.& P.-Cons.s.fd.7 128¼--128¾ 129 -129¼ 120 -129¾ 129¼-1297A 1126¼- 127 .... - ... 127 -127 .... - .••. 123 -123 ... . - .... 125 -125 125
4th, 1892 ............. 6 105 -105 105½-106 106¾-106¾ 106½-106¼ 1107 -107½ 107¾-107¾ ••.. - .... 105 -105 104¼-10-1% 105½-105¼ 105¼-105¼ ... · - .. ..
St. L.V.& T. H.-tst.7 llf> •115 .... - ... 115 -115 116 -116 119 -119½ 119~-120 115 -116 116 -117 116 -117 U5J4-115¼ 115!1,(-116¾ 117 : 11
2d, eu., 1898 ..... ... 7 112 -112 .... - .... 110 -110 110 -110 .... - ........ - ....... - ........ - ........ - . .. . . .. - ........ - .... ....
• .. ·
1
People1t'G&•C.,Chl. 2 d. 6 .... - ........ - ........ - ........ - . ... I .... =11·0... 10·9· =10·,:· · ·10··6·¼=10°8··· 1.0..8. =10·8··· 10•0. =100
•...
=105~~ :::: = ::::
=lOS ..
Peo. Dec.& Evo.n.- lst.6 • .. • - .... 104¼-104¾ .. .. - . . .. .. .. - .... 1110
.,
..
:,u
69
7
2d, 1927 ..... ........... ~ 66 - '70
70 - 76
75 - 76~ 75¼- 76
73 - 74
71¼- 715
69¼- 71
68 - 72
71¼- 72
70 - 70
68 - 68
- o
Evanav. Div., 1st ... _.6 10~¾-103 103¼-109¾ 106½-107 106¼-108 108 -108 104¼-106¾ 106¼-107¼,106½-106¼ 104 -105 104 -104½ . ... - .... lOl - 102
Peorla&Pek.Un.-lst. 6 114 -114 .... - .... 114 -114 .... - .... ....
.. .. - ....... - ... 113 -113
- ........ - .... •· ·· - ........ - .. ..
!Id mort., 1921 ..... 4½ 69 - 611 69 - 70 .... - .... 70 - 70 70 - 70
.... - ........ - ....
- .... 65 - 70 .... - ........ - ... .
Phlla. Co.- J st, 8. f' . ... 6 .... - ........ - ... 104¼-1041¼ 104 -104¾ 104¾-104¾ 102 -102¼ . . - .. . .
- ........ - ....•.•• - .... · ·· · - ........ - · .. .
Phlla. & Read.-Gen.4 88¾- 94 92¼- 93¾ PO¼- 93¼ 92¼- 9¼
927,i- 94
98¾- 94¾ 90 - 92¾ 90¼- 91½ 90¼- 91¼ 89½- 91¾ ~ - 90½ 88¼- 89¾
1st pref. Inc., 191}8 . . i-i 91¾- 94¼ 83¾- 83¼ 80¼- 84¼ 817,(- 83¾ 81½- 83¾ 81¾- 84 80 - 82% 80 - 81¾ 80¾- 83¼ 78%- 82¾ 76¼- 79¼ 77¾- 79¾
.i,d pref'. Inc., 19:J8 .... 3 77¾- 82¾ 71¼- 76 67¾- 72 687'!- 69),( 66½- 69 67¼- 69¼ 62¼- 68 64¾- 66¼ 65 - 68 59 - 6!¾ 57¼- 60¼ 55 - 58
3d pref'. inc., 1938 .... 3 5 ~ 62),( 58 - 60¾ M - 57¾ 54¼- 55% 52¼- 55¼ f>3¾- 57
51¼- 55
52 - 53¼ 53¼- 57¾ 51 - 53¼ 45 - 49¾
1
I
™
io5
:!::..~~~:-~::.:~·::.:: ~:= ~: :!= ~ :::: =·.::: :::: =:::: .~~. =~~~ -~·
Pltt8.Cl.&Tol.-l st ... 6
Plttsb.McK.&Y.-lst.6
Pltttl.Paln.&F.-lst a,.IJ
Plttsb. & West.-lst .. 4
P1·ea.&Ar.C.-lst,1r.6
2d, Inc ................... 6
Riehm. & Alleehanylst, D'rexel receipts.7
Zd mort. Drexel 1.·ec •6
Rich. & Danv.-Cona .. 6
Debenture .............. 6
Deb, ex. cp....... .... ..
Con. M., irold, 1936.IJ
Rich.& WestPt. Ter.6
Con., 1st, col. t. a, .... . IJ
Rome W. & Oa.-ht ... ,
Con., 1st, extended ... ~
St, Jo8.&G'd Isl.-18t.6
~d, income .. . ........... ~
Ko.n. C. & Om., 1st .. /j
St. L. Alt.& T.H.-tst. 7
:Id, pref ........... . ...... 7
!id, Income .............. ,Dividend bonds ... ... . 6
Ck. St. L.& l'ad.,l"t.3
Belle. & So. 111.-Jst,8
Bell. & Caron.-lst .. 6
L. !So., 1st, auo.1· .. 4
.... - ........ - ....... - ........
.. ·· - ........ - . . ..... - .......
94 - 06
96 -100 100 -100
99
7~- 80¼ 80¼- 82¼ 81 .- 84
· ... - ........ - .... 94 -9'1 96
. . .. - .. . . 50 - 50 . . . . - . . . . . . . .
6
1 CJoUPoD Otl'.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
:!.¼= :
~ ..
:::: = ·::: :::: = :::: :::: = :::: :::: = :::: :::: = :::: 13¼- ........ - ........ - ........ - ........ - ........ - ........ - .... 108 -108 .... - .... 117 -117 .... - . ..... .. - ........ - ........ - ........ - .... .... - .... ···· -100
99¾-100 103 -103 100¼-100¼ .... - ........ - .......• - •. ···· - •... ·· ·· =
85
85 - 8~ 86.14- 87¼ 84 - 85½ 84 - 84½ 83¾- 84¼ 83¼- ~ 83¼- 8!½ 83
-96½ 90 -96¼ 9t -96
93 -93¼ 93¼--93¼ .... - ....... - .... •·· - ........ - . . . . .. . - . . . . 85 - 35 . . . . - . . . . • • - .. . . . . - . .. . . . . . - • .. . .. • - .... · · · · -
88'¼-
13~
.. ..
·•··
~~
=
····
.. ..
6 7¼-- 70½
58 - 61¾ 61~- 64!1,i 62 - 68¼ 68 - 66
64 - ~ 65¾- 67¼ 65 - 67¼ 67 - 70¼ 67 - 69
66¼- 69
68 - 69
26 - 28
28 - 31¼ 29 - 30¼ 30 - 82¾ 81 - 88¼ 33 - 84¾ 33 - 34¼ 34¾- 37
36 - 36¾ 35 - 37
36¼- 37¾ 36 - 38¼
118
114 -115¼ 115¾-116 116 -116¾ 117%-11';¾ 118 -119¾ 119 -119 110 -116¼ 116)4-116¾ 116¾-116¼117¼-119 118~-119
¼-l19¾
.... - .... 97¾- ~ 101 -102¾ 100 -102 102),(-104¼ 104 -104¾ 104 -104% .... - .... 104 -104¼ '101 -101¾ 99¾-101 99 - 99¾
93 - 94
95¼- 97!1! 98¼-103 . ... - ..... ... - ........ - .... .... - ........ - ...... - . - .......• - .... • •. • - • • .... .. - • .. ·
86 - 86¼ 87 - 88
88 - 94½ 90¼- 94
93¼- 94~ 91½- 94½ 90¼- 93
89¾- 92
91 - 03¾ 89½- 91¾ 87 - 88¼ 87 - 89
06½- 99
96 - 99¼ 08 - 99¼ 98¾-101¼ 101 - 108 100¾-102¾ 99½-102¾ 98¼- 99% 99 - 99¼ 1 98½- 99½ 98¼-100~ 98½-100¾
.... - ..... .. . - ........ - ........ - ........ - .. .. 87¼- 8~ 84¼- 85
85 - 85¼ 81¼- 82¼ 80 - 80
78 - ~ 77¼- 79¼
107¼-108¼ .... - .... 108¾-109 108¾-108¾ 109¼-109½ 106¼-106¾ 107¾-107¼ 107¼-107% ... - ........ - .... •··· - ........ - ... .
108¼-110¾ 110 -111 110 -111¾ lQS¼-111¼ 111,¼-112 110!':{-111½ 110¼-112 110 - 112 111 - 112 108 -110 108¼-109 109¼-110
104 - 106¼ 106½-107½ 106½-107¼ 106¾-109¼ 105 -106¾ 105½--106¾ 104¼-1053-fi 105¼-106¼ 106 -106¾ 106¾-107 102 -104¾ 102½-104¼
49 - 49
49 - 49 .. ., - ........ - ........ - ........ - ........ - .... 40 - 40 .... - ........ - .... 32~- 823' 30 - 32
87¼- 89
86¼- 87½ 86¾- 86!1,( 86¼- 87¼ 85½- 89
89¼- 90¾ .. . - .. . . .. .. - .. .. 87¾- 88½ .. . . - ,. .. .. .. - ... • .. .. - .. • •
ll.2¾-114 .... - .... 113 - 118 118¼-114½ 114 -114 115 -115 111 -111 .... - .... 112 -113¾ .... - .... 114 -lU . 111¼-111¼
110 -110 1~-109:I:! 108¾-109 108 -109½ 109¼-109¼ 112 -112¼ 112¼-112¼ .... - .... 106½-110 .... - .... 110 -110 :110 -110½
1()4¾-104¼ ...• - ........ - .... 107· -108 .... - .... 107 -107 106 -106¼ .... - .... 106¾-107¼ .... - .... 105 -105¼ 106¼-105¼
.. .. - . . .. 40 - 44¼ .. . - . . . . 89 - 40 40 - 40
48 - 45½ 43 - 44
40 - 43
44 - 46 . . .. - .. . . 45 - 45
49 - 50
.... - ........ _ ........ _ .... lOQ¾-100¾ .... _ ........ - ..... ... - ........ - ........ - ........ - •.. . 101 -101 lOQ¾-100¼
117 -117 .... - ........ - .... 114 -114~ 115¾-115½ 116),(-118 120 -120 .... - . . .. .. . - ........ - .. . . 117 -117 . •·· - • .. •
110 -110 .... - ........ - ........ - ........ - ........ - ........ - . ... .. - ........ - .••. • •· • - •··· .... - .... 106 -105
83 - 88 .... - .... ... - ........ - ........ - . . .. ... - •·· • ·· · • - ·· · · · · .. - · .. · · · .. - • ... .. · - .... S2 - 86 ....
• .. .
st.i~!!~:;~·
~~.:.:;.:~~·.~ ·92
2d, 1936 ...... ......... .
St. Louie & Ch.~ J st..6
St. L.& Iron Mt.- lat . .7
~ . 1897 ...... .......... ,-
=
ios
lii .. ·oo~ 99 ..
=
35 - 37½
23¼- 24¼
108¼-110
100 - 106½
9~~ ·ils = 98¾ ·;9 =02}( ~78 =s.1·· ~;,~
·98¼=
35½- ss
88½- so~
25 - 40
38 - 89½
106~-106¾ 106¼- 106¾
1oe - 1073-b08 - 109
33 - 30
80 - SIi
1()6¾-107
108 -HJS¾
2u
:-m 27½- 20
. ... - . .. 87 - 4S
108 - 108¼ 108½-109
106 - 101 107¼-10994
2/l
40
lUII
1U11
I
oo.. ~78 si~ ~s:i:~= 87¾ ~ ao~
=so ...~~¼=:¾~;,-.;¼=
- 28
',!,7
29
21 · 28
- 41 · ·.. · · .. · lG - 15
-109¾ 105¼-100 100 -106½
--110 108½-UO 109~-109¼
=
27 - 29¾ 29 - 31½
· · · · - · ·1· · · · - ·· ··
106¼-107 106~107
110 -110 105¼-1~
26¼- 30
· .. · - · ...
105¾-106;(
1 ~-1os
OD
BAILBO.AD 80ND&
1889-Conttnued.
JANUARY FlCBR1RY.
!r1A.RoB.
MAY.
APRIL.
JUNE.
JULY.
AUGUST. 8EPT1BER. OCTOBER. NoV'BER. D•c'BER
- - - - - - · • - - - - - - - - - - - - ·- - - - - - ----1-----1•-•-- - - -
BONDS.
_ _ _ _ _ _ _ _ _ _ ,Low.High Low.High Low.~lgh Low.High Low.High Low.High Low.High Low.High Low.Rig~ L_o_w_._H_l_g_ll Low.High Low.Hlirh
!!!!t.L.& I.M.-Ark. Br.7 10~106 106 -107 1 ~ 1 ~ 107 - 108 107 -108¼ 104¼-lOi½ 104¾-105 .•.. - •....... - ••.. 106 -107 106¾--107 105¼-106
Cairo &Fulton-bt.. 7' 102 -103 102¾-l~ HIS -104 108¼-103¼ 102,t-lM½ 104¼-l~ 101¼-103¼ 102¾-103 102!,,a-103 102 -102¾ 103 -103 103¼-105
Cairo Ark. & Texas . , lOtl)f.-105 IM -106 104 -1~ 107 -107 ..•• - ••• . 108 -103 lM -lM 102%-103% 103¼-lM¼ 104 -105 105¼-105¼ 102 -102¼
Gen. COHOI. & I. a-.... ll 81 - 84J( ~ - 90 ~ - 85 81¼- ~ 84 - ~ 85 - 86.14 84¾- 86¼ &¼- 86¼ 87¼- 90 85¼- 8~ Si - 85¾ Si - 90¼
St. L. &8. F.~d, cl.A.ff 116 -116 .•.• - •... 118 -118 119 -121 118 -118 118 -118 .... - . . . . ... - .... 118¼-118½ 118¼-118¼ 114 -114 111 -113
Cla•• B ........... ...... . 6 11~-117 11~-118 118 -118 120 - 121 116¼-118¼ 118 -118¼ 120 -120 118 -119 . • . . - .... 119 -119 115 -115½ 111 -113
ClaH C .. ................ .ff 115¼-117 117 -118 119 -119 119 -121 llt%-118 118 -118 118 -118 118 -118 118¼-118½ 118¾-119 115¼-115¼ 112¼-112¼
Equipment ............. f 106 -106 . ... - ..•. .. . . - •.. 1~-106½ .... - •....•• - ... . ..• - ..•..••• - •... 105¾-105¾ ... - •... 105 -105 .... - .. .
General mort ... ...... .6 115¼-115¼ 116¼-117 117 -ll8 119 -1~ 119 -121 121 -121 118 -118 118 -118 110 -120 116¾-116¾ 118 -118¾ 112 -112¼
General mort ... ....... 3 10114-108 102'8-104 lM~-105 105¼-107 106¼-106~ loo,:(-108 103¼-105¾ 104, -104,¾ 104 -104 ..• . - .... 102 -102 100¼-102¼
ht, Truat, 1987 .... .. 3 99 - 99¼ 99¼- 99¼ 99¼- ~ 97¼- 9711i 97¼- 98 99 - 99¼ 99¼- 99¼ 92 - 99¼ •••. - • •• . 92¾- 92¾ 90¾- 92% .... - .. .
St. P. & D.-!ld,1917 .. 3 108¼-lM¼ 105 -106 100 -106'.( lO#f-104¼ 104"'-l~ 104¼-106 10~-106 105¾-106 106 -106 .. •. - .... 102¼-102¼ 102 -103
~t.P.1'1.&M-bt1D09., 112 -112 112¼-118 118 -114 114 -114 118 -118 .... - .... 113¼-113¼ 114¼-114¼ 114¼-114½ 117 -117 117 -117 .... - ...
~d mortar., 1909 ..... . 6 n ~ r l ~ 120~-121½ 12Q¼-121 118 -118 ll8¼-121 120 -120 121 -121 121!':(-122 122¾-122¼ 117 -119¼ 117¼-1173,6117 -118¼
Dakota Exten•lon .... 6 118 -119 120 -120 119 -11~ 110 -122 118¾-118¼ 119¾- 120 120 -121 121 -121 121 -121¾ 121 -121 115¼-116¼ 115¾-117
ht, consoJ.~, coup . .... 6 115¼-117 116 -120 11';¼-118 UH -119~ 119¼-120¾ 120~-121¾ 118¾-118¾ 118¾-118¾ 110¾--120 118¼-119¼ 117¾-118¾ 117 -118
1
Reduced to ......... 4½ 98~-100 100 - 100½ 100 -1 ~ l()()¼-101 103 -103 108 -108¾ 101 -101¼ •••• - ••.•••.• - •.•. 101¼-101¼ 101 -101¼ 100¼-101
Collat. trnst, 1898 ... 3 97 - 98¼ 96~- 97¾ 07 - 98 97 - 98 97* 99% 99½-100 99¾-100½ 98½- 99¼ 99%- 99¾ 99¼-100¼ 100 -101¼ 101 -101¼
Montana Ext., ht ... .( 88¼- 87 88 - 90 88 - 89¾ 87¼- 90 ~ - 92½ 89~- 90¾ 88 - 89¾ 86¾- 88¾ 86¼- 88 88 - 89 88 - 88¾ 85 - 87
Montana Cent., bt. 6 109 -110 110¾-113¾ ilS¾-115¼ 115~-11~ 115¾-116 115¼-116 113¾-115 •••• - •••. 116 -11~ ll.5¾-115~ 115¼-115¾ 115¼-116
S n.nA. &Ar.P.,1916 .. 6 .... - ........ - ........ - ........ - .. . 86 - 88 88 - 88 85 - 85
78 - 83
80 - 88
86 - 87~ 86¾- 89)4 86 - 88¾
1926 ....... . ............. 6 Bi¾- 88¼ 88¼- 90~ 85 - ~ 85"'- 88¾ 88¼- 91
88 - 9C¾ 85 - 87
81 - 86
82¾- 89¾ 88 - 90¾ 89%- 91)4 86 - 89¼
S.Fran.& N.P.-1 st,a-.3 ... . - ........ - ........ - ....... - ........ - .... 1029'-103 100¼-101 100¾-100¾ 100¼-100¼ ...• - . . . . . . - ........ - •..
Shen.Val.-tst, Tr.rec.7 90 - 91
92 - 92¼ 88 - 88
87¼- 89
92 - 96
95 - 96
94½- 95¼ .... - •... 94¼- 9~ 100 -100 100 -107 105 -115
Gen. mort., Tr. rec . . 6 81 - 33 83¼- 84 81 - 81¾ 81 - 88¼ 89 - 40 88¾- 40 38 - 32¾ 36¼- 37 • • • • - • . . 37 - 41
40¼- 45
44 - 49¼
~outb Carollna-bt .... 6 90 - 96 95 - 96 98 - 95 90 - 91 90 - 98 *94¾- 98¼ >t95 - ~ >t99 -100¾ +94 - 99¾ >t95¾--101 +94 - 96 ~ ->t96
2d, 1931 .... ........... . 6 47 - 58
55 - 60¼ 58 - 58¼ 5~- 156¾ 50 - IIO
55 - 55¼ 52¾- 57
57 - 61
57 - 60
57 - 60
58 - 58¼ 55¾- 55¾
Incomes. , ... ........... .6 5¼- 9¾ 8 - 10
ti~- 5)1i 5~- 5~ . . . . - . • . . 9 - 9 . . . • - . . . . 7 - 7¼ 5 - 7 . . . . - . . . . 6¼- 7
7 - 7
!ioo. Pn.c., Cal-ht .... ... 6 114 -114 114¼-114¾ 115~-116 114¾-lH¼ 115¾-115¾ . •. .
. •.. 116¼-117¾ 117¼-118 118 -118½ .... - .... 114¼-115¼ 113 -113¼
tat cosol., 1938 ... .. . 3 .... - ........ - ........ - .. ...... - ........ - . . .• 95 - 95).4 95 - 96!4 96 - 98½ 98¼-102 99¼-100% 101 , -101¾ 101½-102¼
So. Pac., Ariz., 1st .... 6 10~106 !1~-107 !100 -1~ 106 - 107¼ 106.J..-107 107½-108)4104¼-106 106 - l ~ 107 -108 108¾-109 109¾-109½ 109¼-110
so. Pac., N. Mex.-lst.6 105¼-107~ 107¾-108¼ 107¼-108¼ 107"'-108~ 107¼-107¼ 107¾-108 105¾-105% 106)4-107 107)4-108¾ 108¾-109¾ 109)4-110 109¾-110~
Tenn.C.&1.-Tenn. D.6 89 - ~ , 89¼- 97 95¼-100 94 - 9~¼ 94¼- 96 94¼· 94¼ 94¾- 96 95~- 95¾ 95¾- 99¼ 95¼- 96¼ 95¼- 98.¼i 96 - 97¼
Bir. Div., 1st .. .... . . 6 89 - 90¼ 90¼- 97 95 - 99 96)4- 98~ 97 - 99 97¼ 98 94 - 97 94½- 96 95 - 98¼ 97 - 9~ 99 -100 100 -102
Tex. c.-1.Jlt,s.f.,1909.7 50 - 50 I 45¼- 45¼ .... - •.•. 45 - 45 45 - 50
50 - 50 .... - . . .. 50 - 50
...... .. - .. .
1st, 1911 ............... 7 45 - 45 45¼- 45¼ .• .. - .... •.. - •... ••• - •••. 49
40
•.. - .... 50 - 50
49 - 40 .••. - •...••• - •••...•• - ..•
Tex.&N.O.-lst,1903.7 ... - .... 116 -116 , ... - .... ···• - •.•.•••• - •..•.... • .•...... - .....••. - . ... . •. - ........ - •.•..... - .... . ... _ .. .
Sabine Div., tat .... . . 6 108)9-104 .... - .... 100~-101¼ 102~-102¼ 102¼-102¼ .... 104)4-104¼ 104%-104¾ 102 - 102 .•.. - ........ - .... 105 -105
Texas & Paclflc-tst ... 6 100 -109 .... - .....•.• - ........ - ......•• - ••••.... - • .•.... - ••...... - ..•. 110)4-110¼ 110)4-110¾ .... - .... ... . - . . .
tat, a-old, 2000 ....... 3 8~%- 91¾ 89¼- 91!,i ~ - 8~ 87~- 92¼ 913,6- 94 89 - 91 88%- 89% 89¾- 91¾ 90¼- 91¾ 89½- 91¼ 91 - 92¾ 80 - 91
2d, a-., Inc., 2000 ... . 3 86 - 89¼ 86¼- 89 84· - 87 85 - 40 38¾- 89'¼ 86¾- 89¼ 35 - 37¼ 35%- 38% 37¼- 38¾ 36 - 37¾ 36¾- 38 35¼- 39¼
Tol.A.A.&C.,1917 .6100¾-101 .... - ........ - . . . ..... - .... 101 - 101 103 -106 105¾-106¼·•·· - ... 103!)4-105¼104,¾-105 104 -105¾104 -104¼
Toi. A. A.&N. M., lst .6 09 -102 102 -107¾ 107 -108 107 -107¾ 104 -104¼ lOfi -110¼ 108 -110 105 - 108 106~-108 106¼-107¾ 103 -107¾ 108½-105
Toi.A.A.& G.T.-t st .. 6 108 -104 IQS¼-107 106 -106¼ 106¾-108 108 -109¼ 109¼-120 113 -116 113 -113 112 -114¼ .... - • ... 114 -115 lll¼-111%
Tol.A.A.&Mt.P.-lst.6 .... - ........ - ........ - .... 92 - 96¾ 97¼-101 ·•·• - •.••.... - ... , •• - ••·· ..•. - •......• - ........ - .... 102 -102¼
Toi.& Ohio Cent.- bt.3 101 -102¾ 102 -108 102¼-102¼ 102 -102¾ 102¼-103½ 103½-104¼ 101¾-102 101 -102¼ 102¼-103 101 -102¼ 101 -102 102¼-105¾
T.P.&W.-lst, 1917 .. -t 'i5 - 76 75½- 76 75¾- 75½ 74 - 7d 76 - 80 79 - 82¾ 77 - 79 77 - 78 77¾- 78½ 77 - 78 77 - 78 78 - 78¼
Tol.St.L.&K.C.-18t.6 92½ - 96 95 - 100 99 -10~ 108 - 104 1103¾-105 101¼-102¼ 102 -102¾ 102¾-103 102¾-103¼ 102¼-103¼ 102¾-103½ 100¼-100¾
U nion Pac. -bt, 1896.6111¾-118¾ 113 -118¾ 118~-114¾ 11~ -116¾ 116 -116¾ 116½-116¾ 115 -117¾ 114¼-115¼ 115 -115¼ 113 -114 112!1:(-113¼ 113 -113¼
ht, 1897 .. .. ........... 6 118 -114 113¼-113"' 114"-114¾ 115¼-116¼ 116¾-117 117 -118% 116)4-118¼ 115!':(-116 115¼-116¾ 115¾-116 lU -lU 114 -115
lat, 1898 . .............. 6 118¾-115¼ 115 - 115~ 115 -115'4 115¾-117¾ 117¾-118';( 118"'-120¾ 117¾-120 117¾-118 117 -118¼ 117 -117xj 116 -117 115¾-116¼
1st, 1899 ..... .. .. . ... . 6 115 -116 116 -116¾ 117 -118 117¾-ll~ 11~-119 120 - 121 120¼-121¾ 119 -119 119¼-119¼ 119¾-119¾ 118¼-119"' 118311-118¼
1
I
~I~~::~:::·:::::::::::: iio
=120½
~~=::
ii6¼=116~ ii6n=1i1··1iio111=1i'™ ii7¾~1i7~ ii~¾=li;¾ 118 -118
ii~ =1i~¼ ii~¾=liS¾ iis =1is~ iis =1i~
····1···· - ........ - ........ - ........ - ........ - ....
Rea-lstered ........... 8 119¾-ll~ 120 -120¼ 116 - 116 116%-116% •.. - .......• ,115¼-115¼
,Collateral Trust ..... 6 105½-10t% .... - •••. 106 -106 1Qt%-106¾ ••.. - ••••.•.. - •..•.•.• - •••..••• - ........ - ••• . .••. - ••.••••• - . ......• - •. .
,Collateral T1·ust .... . ~ .... - ........ - .... ·· · · - •··· •··· - •··· •· ·· - •··· 98 - 98 .•.. - •. .. 99 - 99 •••• - •••. 96 - 96 .••• - ....... - .. .
·<Jolln.ter11l t1·ust . . .. 4¾ ••· • - • •··
- • •·· · · · · - · ··· · · ·· - · ·· · · ·· · ···· - ··· ., .... - ··· ·
•··· - • •· • •·· • - • •· •··· - • •· • 90 - 90¼
IK.au.Pac.-l8t, 1S93.6 111½-111¾ .... - .•....•. - .•_. 110½-110¼ .•.. - . . . . ... - •.•. ' 112¼-112¼ 110¼-110¼ .... - . . ..•••. - •.•. 110½-110½ 111¼-111¼
tat, 1896 . ... .... .... . 6 109¼-110¾ 110 - 110½ 110¼-110¾ ••.• - , .•. 112¼-112¼ 110 -110 .... - ........ - .... 111 - 111½ .... - .•.. lll½-112¾ 108¼-109¼
, Denv. Dlv.- AH'd ... 6 114 -114 115 -11~ 114¾-114¾ 115~-115¾ 112¼-115 114¼-114½,115 -115 115 -115 115¾-115¾ 116¾-117¾ 113 - 113¼ 113 -114¼
ht, consol ... ........ . 6 112 -111\¾ 114 -115"' 113¾-11~ 114¼-ll':' 118¼-115¼ ll(!Ji-11~ 115 -115¼ 115 -115¾ 115%-116¼ 116 -117 113¼- lU~ 114 -114¾
At. Col. & Pac.-ht .. 6 1c2 -103 101 -102_ 100 -102 88 -100 90¼- 98 00 - 98 I 96 - 97 93 - 96 93 - 03 93 - 97 95 - 95¼ 95 - 97¼
At.J.C.& West- tst .6 ....
. ....... - ........ • . , .. •···
•·· · •· · · - •··· .... - ····I···· - .... 93¾- 93½ .... - ........ - .... 92 - 92 92 - 92
Ores. Sh. Llne-111t... 6 112 -114¾ 111 -112¼ 111¼-113 111¾-lH¼ 113½-114¼ 114½ 115¼ 114¾-115~ 112 -113 113 -114 113%-lU¼ 113 -lU 113 -114½
Utah Sonth'n-Gen .. , 104 - 104 108¾-104 104 -115 115 -115 .... - ...• lU - 115 1115 -118 .•.. - .••..••• - .••. 115 -118 116¾-116¾ 118 -118
Ext'n, 1st, 1909 ... .. , 100 -103½ 100 -100 100 -110 110 -111¾ 111 -111% 111 -112¾ lU -115 111¼-112¼ 113 -lU 112¼-113¼ 118¼-115 116 -116
Un.Pac.L.&Col.,tat.3 95¼- 96¾ 97 - 98311 98¼- 99¼ 98 - 98¼ 00~-100¾ 100¾-100¾ 101 -101 . ... - •••. 101¼-101¾ 100 -103¼ 101¼-103¼ 101 -102
Utah & Not•th'n-lst .. 1 .. .. - ........ - ........ - ........ - ........ - ........ - .... .... - . . . ..... - ........ - ........ - .... 115 -115 115 -115
Va. Mld.-Gen.,1936.. 3 78¾· 81 82 - 877A 86¼- 8S 87¼- 90 87¼- 88"' 87¼· 88½ 86¾- 87 87 - 87¼ 87 - 89 89 - 89¾ 86 - 87 85 - 86
Gen., iruar.stampP.d.~ .. .. - ....... . - .... 88 - 90 91¼· 91¼ 90 - 90½ 90 - 91 88~- 903,a 90 - 90¼ 88 - 91
01 - 91
89¾- 80¾ 88 - 88¾
Valley Ry. of O.-Con .6 103 -103 105 - 105 .... - .... 105 -105 105 - 105 . ... - .. . ..... - . . . . . . - ........ - . . . . . . . _ ........ _ ........ _ . . .
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-........ -.. ...... -.. ........-... .... -.... .... -.... .... -.... .... -........ -.. .
~~~-~~to~~::
50 - 53
Gen. mort., tr. rec .. . .6 37¾- 87~ 40¼- 42 ... - .. . . 87 - 37 45 - 45 ... . - . . . 44 - 45¾ 48 - 50¼ 50 - 51¼ 50¾- 50½ 50 - 52 .••• - .. .
,t::hlcairo Div., ti·. i•ec.3 l:18¼- 93 92¾- 94 98311- 96½ 96¼-101~ 100 -102¾ 102¼-10~¼ 101½-103 101¾--104 103¼-104 103¼-103¾ .. .. - .....••• - .. .
Detroit Div.. tr. 1·ec.6 113%-116 115 -117½ 116¼-118¼ 118¾;-125 124¾-128 127 -128 127 -127¾ 127¾-128¾ 129 -129¾ .•.• - •....... - .... .... - .. .
Wab'sh,1909. ,r.rec.7 86 - 87 87 - 87 88 - ~ 8S - 92½ 97 - 98½ 98 -100¾ .... - .. .. 100 -100¾ 100¾-101¾ 100 -100¾ .... - ... .. .. . - .. .
Toi.& W.-lst, ext'd., 111¼-lll¾ .... - •... 114 - 114 116 - 118¼ •.. - ...•.••. - ....•... - ... . •• .• _ ......•. - .••..••• _ ........ _ . . ...... _ .. .
Trust receipts...... 7 89¼- 94 94 - 95 94 - V5¾ 97 -100 100 -102¾ 102¾-103 102¼-103¼ 102¼-102¼ 108¼-103¾ .•• • - •....... - .... . .• . - .. .
St. Louis Dlvlslon .. . . , .... - .... 114 -114 .. . - ... 118 -118 .•• - ....•.•. - ..••... . - ....... - .•..... . - ....•..• _ .•.... - ........ _ .. . .
Trust receipts ...... 7 . . . . - . . . . 93¾- 94.¾ 94 - 95 97 - 98¼ 100¼-102"' 102¾-102¾ . . • • - .. . . 103 -103½ 103¼-103~ . • . • - • . • . . . . . - . . • . . . . . - . .. .
'ld, ext., trust rec .... . , 87 - 88 88~- 90½ 87 - 90 90¼-100¼ 98¼-100 100 - 103 99¼ 102 100¾-102 102¼- 102% 102¾-104: . • •• - . . . . . . . - .. ..
Equipment ....... . .... . 7 .. . - . ... • •• - • •• • . . . . - •... . . . . - • ... •. •, - • ••• • ••. - . . . . 10 - 10 . • . . - . . . . . . .. - . . . . •• . - • . • . . . . . - . . . . . . . . - ... .
Cons., conv., tr. rec .. , 86 - &3 85 - 89 87½- 89 88,a-100¼ 96¾- 9i,a 98 -100~ 97¼- 99¾ 98¼-101 100¼-101 99¾--101 .... - ....... . - .. . .
Gt. Western-1st ...... , 110½-11~ .. .. - .... lltl~-115~ 115~-117 •••• - ....••.. - ••.•.... - ... . .•.• - ..•... •. - . .•.. •.• _ •.... ... _ ........ _ ... .
Trust receipts .. . .. . 7 89 - 91 . . .. - .. . 95 - 95 97 -102 101 -1023,6102!,(-103 102¾-103'1 .••. - •••• 103¼-103½ ..•• - • .. . ... - •.•.... . - .. ..
~d, 1893, tr. rec ... 1 88 - 88 87 - 94. 86 - 88!-( 90 - 97 98½-100 100 -102½ 101 -102 100 -102¼ 102¾-102½ 102 -102 103¾-108"' .... - .. . .
(luln. & Toi., tr. rec .7 90¾- 90~ .... - •....... - ..•. 97 -100 LOO -10~ 102¼-102¾ •. . . - .... 103 -103¾ 102 -102 .... - .. .. .... - .... . . . . - . . ..
Ill.&S.I.,htT1·.rec.6 .... - ....... - ........ - .... 101¾-101¼ 101 -102~ .... - •..• 101½-101¼ 103 -103 103~-103¼ ..•• - ......• . - ... ..... - .. . .
~t.L.K.C.&N.-RI.E.7 111!-t-112¼ 113 - 114¼ 110 -111 111 -112 112 -112 lll¾-111½ .... - .... 111 -111~ ••.. - •• .• 1109 -110 11(%-111 111~-111%
S-orth. Mo.-bt . ..... 7 11834-118¼ 118"'-118,S 118'(-114¾ 114M-1HM 116 - 116 ...• - •.• 112½-113½ 114¼-lU¾ 115 -115¼ 117 -117 11&¾-116'4•116 -118
!!~~;~::~!:?~i~~::
!.Id M., a-., 1927 .... 3-~
West. Un. Tel .-Coup .. 1
Collateral tn•t ..... 6
\Vheel.&Lake E.-lst.~
Wl•.Cent.Co.,lllt,v .. ~
Income, 193, .... .. ... 3
96~ ·96'¾=100·· ·9s~= ~ ·98½=1oi ..
·95~=
39¾- 40M
116 -117
98%-102¾
102,½i- 104
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98 .. ·9;;¾= 98 .. ·oo =9;·· ·96·¾= o;·· ·94"= 00)94¼= 00¾
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37 - 88xi 34c - 87
.... - ....... - ........ - .. .. 117~-1181 .. . . - •• . •.• - ••.•
10()¾- lOS 101¼·102~ 102¾-105 104¼-105½ 105 - 106 102½-104
104 - lOi¼ 104 - 104 102 -102 102½-109 105¼-lOtl~ 105 --109¼
.... - .. . .. . . . = ::: . ::::: •... . .. . : •••• ...• - . .
95!1(-96
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•··· .. . . - .. .. M - 58~ 67 - 0 7
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40 - 41¾ 39½- 40
~ 89
T .......
38¾- 34¼ 83¼- 85
38¼- 34
29 - 31½
.•.. - •....... - ....•••• - •••. 115 -115
101¼-103 1{)2¾-103)4102¼-103¼ 102%-104c
109 - 110 108 -109¼ 105 -105 105 -105)4
96 - 96M 97 -97¼ 96¾-98
97U--98?4
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Federal Reserve Bank of St. Louis
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R AILROA D · BONDS. 1890.
JANUARY FEBR'RY.
BONDS.
MARCH.
A P RIL,
HAY .
J UNE.
D EC'BER
N0V'BER. ,___
OCTOBER. ,____
-i\UGUST. SEPT'BER.
JULY.
_ .
____ ,____
1----1----
Low. H igh Low.High Low. H igh Low. H igh Low. H igh Low. High Low.High Low.High Low.High Low.High Low.High Low.Hig~
- -- - - -- ---- ---- ---- ---- - - - - - - - - - - -
.
~ - - - - ----
Am. Wat. W. Co., 1111..6 . ... - •... .... - .... 108 -109 109½-109½ . . . . - . . • . . . . . - . . . . . . . . 1st con sol., gold lb. . . . . . . - .... 100½-100½ . . . . - . . . . 99 - 99
98½- 99¼ 95 - 96 . ... - .• •. ....
Atl. & Danv.- lst .... .. 6 . .. . - .... 98 - 99
··•• ,···· - .. .. ... .
75
74 - 77½ 72½- '13
Atlo.ntic & Pac.- lllt ... 4 71 - 72½ 70½- 71¾ 71¾- 75
72 - 7~
= .. .~~¾- 79½
1
.
= . =
2d W.D., s. f., 1907.ti .... 12¾- 15½ 14 - 17¾ 17½- 24c¾ 19 - 21¼1 17¾- 19
12 - 13
13 - 14¼ 10½-- 14¼ 10 - 13)4
Income ... . .. . ... . ...... 6 12 - H
14)4- 17
15½- 17
Atch. Top. & S. Fe.78½- 83½ 78 - 81½
Gen. mort., 1989 ..... 4 83¼- 84c½ 83¾-- 84c¾ 83¼- 84c¾ 84c¾- 86¼ 85¾-- 88 86¾-- 87½ 84c¾- 85% 83½- 85¼ 83 - 84c¾ 81½- 84c
Reirlstered .... ..... . ...... - ........ - . ....... - .. . ..... - ...... .. - .... x85½- 85½ .. . . - . . .. 84½- 84½ 83¾- 83¾ ... . 55 - 59'¼ 46¾-- 56¼ 4.5¾- 55¼
54¼- 55½ 54¼- 59:¼ 58¾- 64% 64¾- 70¼ 66¼- 69¼ 64¾- 68¾ 63¼- 66¾ 58¾- 64
Income, 1989 ..... . ... 4 55¼- 56
- .... 66¾-- 66¾ .... Registered . . ..... ... . .. 4 .... - ... . .. -- 1
- ....... .
1920 trust .rec'pts .. 4 ½ 70 - 70 .... - .......• Chic. S. F. & Co.I.1st.~ 85¾- 85¾ . . . . - . . • . . . . . GuUCol.&S.F.- lst, 7 114¾-119¾ 119 -120 .... Trust receipts ... .. . 112¼-113¾ 117¼-117¾ ... .
.Gold . . . . ... . . .... ....... 6 74c¼- 76 ; 76½- 77¾ . . . . . . . . ... - ........ - .... 118½-118¼ 117½-118¾ .... ' Trust receipts....... 73¾- 75½ 76½- 76½ .•.. - • . . . 83 - 83
116 -116
.... - ....
Bait. &0.- 1.st, P.Br .. ti 121 -121½ . . .. - .... 121 -122 .•.. - .... llJ¼-117½ 120 -120 I
Gold, 192~. coup ..... /J 109½-109½i106¾-107½ 107½-108 1087-(-109¾ 108 -109 108¾-109½ iw½-10~½ 1107½-108 ioo - 10; .. io~¼-108 lO!i½-10;· . 106 -107
Gold, 192/i, reg ... . .. /i .... - .... 107 -107 107¼-107½ .... - ....... .
- . . .. 107¾-107¾ .... - .... 105¼--105¼
Consol., a-old, 1988 .. :i .... - .... ,. .. ·- .... 94-94
. ... 99!!4:- 99¾ .... B.&O.S.W.-lst, 1890 ... . - .... ....
•... 85 - 85 .... Beech Creek.- l s t, ,r . . 4 .... - .. .. 89 - 89 ...• _ ... . .... - ....... .
92 - 92¾ . . . Bos. Un.Gas-Tr.cer.sf,IJ 92 - 93
05 - 95¼
95 - 95
- . .. . 98½- 98½ 98 - 98
99 -100 100 -100¼ 100 -102
99¾--100
Bost. H.T. &Wes.deb .Ii 99 -100 101 -102
95 - 95
- .... 100 -100 100 -100. 98 - 98½ .... - .. . . 95 - 08
Buff. R. & P.- Gen ... .. ~ . ... ·
...
-117
117
....
-121
117
....
....
- .... 110½-119¾
Roch. & Pitts., 1st .. 6 . . . .
- .... 115 -115 112. -112
- .•.. 118 -118 .... _ ........ - ... . 116½-116½ 116½-116½ 117 - 118
Consol., 1st .. .. ...... 6 .. . . - . .. . 116 -lltl
B'klynEI.- lst,1924 .. 6 lll½-112 112 -113 112½-113¼ 110¼-111½ 1107-(-111¾ 110 -110¾ 110½-110½ 111 -112 111 -112 110 -111¾ 108 -111 107½-110
85 - 5
87 - 87½ 85 90 - 90
2d mort., 191~ .... 3.~ 88 - 86 .. .. - . •• 86 - 86 90 - 90½ .... - ..... . .. - •... 87½- 90 .... 105½-106½
Union El.-lst,193,- .6 108 -108¼ 107¼-108¼ 107 -107¼ 107¾--109¾ 106¼-107½ 107¼-108 108 -109 109 -110 108½-109½ 108½-lll½ 106 -10
90 - 96½
97½
94
97½
93½96¼
Bur. C.R. & No.- lst . . /J 96 - 98 96¾- 98 97½- 98½ 98¾-100 100½-102 98¾- 99½ 98 - 99½ 97 - 98½ 95½.... 86½- 87½ ... - ... . 82 - 82
. ... 90 - 91 .... 90¼- 92 87½- 90 87½- 87½ ....
90 - 91
Cons.1st & col. t1.· .... :i 90 - 90
- .... 82 - 82
Reiristered ... . ... .... ... . . ...
I. C.& W.,lst,1909 .,- 85 - 87¼ . . - •... 9 - 98
90 - 90
.... 90½- 90½ 94 - 94
C,R.I.F.&N.,lst ...... 6 ·· · · - .... 87½- 87½ .... ........ - .... 97 - 97
,;1st, 1921 .. . ....... . .. ;l .... -106 105 -106¼
tlM
-106¼
106
105%-107
-107
105
-107¼
*106
109¼-109¾
108½-109¾
108¾-109½
108¾-lOP
107¾-110
-108
107
gno.r.
Can. South.- lst,
94½-- 96½ 94 - 95½
96 - 97
99½-100¾ 99 -100½ 06 - o
99¾-100
99 _100
97 - 98½ 97¾-100
99½-100
. ..... ~ 977-(-100
!ld mort. .. .. ...
. ....... _ ..
Re1ristered . .. ... .. .. .. -~ .... - . . . . 99 - 99 .... - . . . . . . . .
98 - 99 100 -100 110½-110½ .... - ...... - . 99¼- 99¾ ... .
Cent. RR. & B. , Ga .. a L00½-101¼ 99 -101¼ 100 -100 100 -100 98¾-100
88½- 89 .... - ... 83 - 83,t
Sav.&W.,lstcou. ,g,;l l 98 - 99¼ 98 - 98¾ 95¼- 96 93 - 95
93¼- 9-1~ 94 - 94 .... - .... 92¼- 92¼ 90 - 90
~~~ ~~ ~~~
c~:;sC::ti:;;:~~.~--·.:;
i~i¾=~:¾ i2~½=122 .. i20 =12{ ..
~.~¼= ~~ .. ::¼= :~ .~~.
iiii½=l.2◊.. iis,i;-119¾ 119
~~
-119½ ... . - :::: ii1 =1is .. lii.. - 1is.. iisill6½ +i:t:s =li6½ii5½--116
Conv., 1902 . . . . ... . .. ., 124½-124c½ 128 -128 .... - .... 128 -128 124.%--124¾ .... - ......•. - .... 125¾-125¾ .... - .... 124 -124c 118 -118 •··· ... - .•. . .. - ........ - ....... _ ........ - ........ - ..... ... - ........ - .. . . . .. - ... . •...
Conv. deb,,190S .. .... 6 124c½-124½ 122 -122
Gen. M., 1987 . . ..... . ~ 110¾-112 !110'4-111:14 110½-111¾' 111¼-113½ 112½-113½ 112%--113½ *ll0¾-111 110 -111 110 -111 109!)4-110¾ 108 -111 106 -109¼
Redstered . .. . . ... . .. ~ 110½-111% 111 -111¾ 110 -111¾ 110 -111¼ 111 -112 *110¾-112 110¾-111 111 -111 111 -ill 1(19 -109¾ 109 -109¾ 104 107
Leh.&W.B.- Assent ,- 115 -117 1115 -115½ 113 -114 114 -115 114½-115½ 113 -115 114¼-115 114 -114¼ 113 -113)4113~-113¾ lll¼-111)4105 -llO¼
Mort1ra1re, 1912 .... /J 103 -1031 . . .. - ..•. 10-! - 1047-( 104 -105 102 -103¾ 103¾-103½ 103½-103¾ .... - ....... - ... 102½-102½ .... - ... . 97½-100
1
Am. Dock & Imp . ..... ~ 107½-110 109!)4-110 109 -109!1( 109 -109½ lO'J -109¾ *09½-110½ 108 -109 1107½-108¼ 107 -100½ 108½-110 107 -108 106 - 108
Central Pacific.1
Gold, 189:i ... .. . . . . ... 6 110 -111 111 -111½ 111)4-112¾1111¼-111½ 110½-110% .... - .... 109 -109 10!,J¾-109½ 109½-109¾ .... - .... 110 -110¼ llQ¾- llO¾
111½-111½ 112 -112 113 -11:37-{ 110¾-llOfs, .... - .... 111½-111½ 111¾-111¾ tlll -111¾ · · · · - ... .
112¾-113½
112¾-112¾
Gold, 1896 .......... . 6 111 -111¾
Gold, 1897 . .......... . . 6 112¾-112¾ 113 -114½ 114)4-115 1137-(-114 ::.13 -113¼ 114 -114 111¾-111¾ ·111%- 111!¼ 111¾--112¼ 112¼-112½ 111¾-+12¾ 1,13 -113
Gold, 1898 . .......... . . 6 112 -114 1114½-115½ 115!)4-116!)41114½-115½ lH½-115¼ 115¼-115½ 112%-113¼ '113¼ 113¼ 113 - 113½ 113%-114¼ 111 -114¼ 114½-115
San Joaquin Bi· ..... .. 6 .. . - .. .. 113½-114½ .... - ••••.... - .... 111 -111½ 112 -112 .... - .... 1 ... - . . . . 110½-111 .... - .... tl07-107 105 -105
Land a-rants . ..... . ..... 6 101¾-102½ 102)4-102¾'. 102%-102¼ 100¾'.-100¾ 100¾-100% 101¼-101½ 101%-102 102 - 102 .... - ....... - .... . ... - .... · · · • = •· • •
•···
.... - ... . 101½-101½100 -101¼ .... _ ........ - . ... ,1 .... - ........ - ........ - ........ - .... ····
r Mort.,ruar, 1939 .. .l .... - .... 9!i¾- 95
Western .Po.c . ..... .. .. . 6 . . . - ... . 112 -112 115 -115 .... - ........ - •... 114½-115 112 -112 I.... - .... 111 -111 110½-112 108¾-110½ 110 -110
I
c::;.o~::t;.!~!?9~:~:::·
= :::: :::: = ::::
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Ches. & o.- P. mon.f'd fi 113}.(-113¼ 115 -115 .... - . . ...... - ........ - . . . . . .. _ ........ - .... 111½-111½ .. .. - . . . Lll½-112¾ .... - .... llt - ll2
Serle■ A, gold, 190S .[ 117 -118½ 119½-120 119 -120)4,115¾-117¼ 117 -117½ 116 -116½ 117),4-117¼ 116¼- 116¼,115 - 116½ 118 -114 l113 -115 111¾-115
lllort., 1911 . . .. .. ... ... l 115½-115½116½-118 ... - .. ...... - .... 116 -117 116 -116 j11s¾-ll6¾ . ... - .... 115 -116 *111½--12%113 -114 ill -113
99 -100½ 997-(-101 +o3 - 98¼ 92½- 96
1st, con., a-., 1939 .. .. a 100¾-10 1¾ 100¼-101¼ 100 -100¾ 100;}4-103¼ 99%-101!,.i 101 -1011\g 100½-100¾ 09½-101
07 -100¾ 100 -100
Registered ....... . ....... 100½-100½ ...• - ......•. - . . . .
66 - 69%
64½- _70
70 - 71¼ 67 - 69¾ 69 - 10
71¼- 73½ 71½- 72
71%- 72
69½- 69½ 70 - 72
R.&A.div.,lst con2•4 .... - ........ - ....••. ,
- · · · · .... - . .. . ... - . . . . 82 - 82 .... - . . . . . ..
;1st consol •• 1989 ... 4 ....
66 - 69
68 - 68
..
72 - 73½
73 - 74
73¼- 74
- . . . . . .. - . . . . 67½- 71¾ 72½- 77 75¾- 76
2d consol, , 1989.3-4 . . .. lll½-112½ 111)4-111¾ 111 -111 107½ -107½ 108 -108 113 -113 100 -105 103 -106
Che■ • O. & S. W .... .... 6 110 -113½ .... - . . .. 108 -108 109 -112
- •···
- ••• . j .... - .•...... - •.•....• - ...
84 - 84,
82½- 82½ 85 - 86
81 - 82
!ld mort., 1911 ........ 6 .... - .... 80¾- 81
... )105¾-105~;£ 106 -106 1106)4-106¾ 1~-106%
Chic, & Alton- lat . . .. . 7 109½-108½ 108¾-108¼ 108%--108% . .. . - • . . . . . . - ••• . ... - ... . 106 -106
- ... ,121½-121½ 121½-122¼ 119 -119 .... = • - ..
Sinking fund, 1903 . . 6 122 -122 122½-122½ .... - .... 122 -122 119½-119½ 120½-120½ . . . .
. .. .
- ...... . - ... . 115¾-116 .... - .... ....
. ... - . . .. 119 -120
L.&Mo.R.lst, 1900 .'7 . . .. - .... 118¼-llP 118¾-118¾ 11~(-118¾ ....
·;· - ....... - .... ... : - ... .
- .... 114½-117 117 - 117 115 -115
2d, 1900 . ... ... !"• • • ,- 118¼-118½ . . .. - ...... . . - ... . ... 107½-107½ . : . . · St.L,J .& Uh.lst,' 9 4 ') llllJ.(-112½ 112 -112¾ 112½-112½ 110 -110 110 -110½ .... - . . . . . . . .
101 -101
Chlc.Bur.&No1·.- lst .~ 100 -101¼ 100 -101 103%--104¾ 102½-102½ 105 -105 10! -105 l0-1~4-105 10-i -105 .. liw - 104 101 -101½' ... . Chic, Burl. & Quiocy122 -124½
Consol. .. .. .. ........ . .... , 128 -127 1~6¼-127 127 -127½ 126%-127¼ 126½-128 J27¼-129 124 -125 12:~H-l2!i 123¼-125 123½-125 123 -1
.... 105 -105¾ . . - .. . 102½-103 100 -102·
Sink. fund , 1901 ..... ~ 106¼-108 107½-107¾ .... - ... 105~4:-105¾ 105 -105 105¾-106
Debenture, 1913 .. .. . 6 lM¼-105 104 - 104¾ 10-! -105 105½-105% 102¼-103 L02½ ·103 102¼-103 lOJ ½ -102 1101½-102¼ 102½ 10! 96½ 100¾ 96 - 99
. - . .. . ... - .... lOH¼-108¼ ... - . . . ... - ........ - .... · ·· · - · · · ·
. ....... - ... . 107¼-107½ 107¾-107¾
lowaDlv.--·sink. fd .. . /J .... - . . .
98¾· 98¾ 92 - 92
05½- 95¾ 95¼- 95½ n::;1:!_ 05¾ 95¾- 95½ 9.,,½i- 05¼ !l5½- U5¾ ll::l½- 94
Iowo.Div ... .. , .. . . ... 4 96¼- 97¾ 97½- 97¾ 9 - 99
88¼- 89
'J2¼- 92½ 92 - 02½ 00½- 91%1 88 - 91
!l4 - 9!¾ 9-i\4- 94¼ O.j}{j' - 95)4 9-i¾- 96
92%-- 9!
93 - 94c
Denver Dlv., 1922 . . . 4 94½- 95
02 - !J3 .... - .... 1 89¼- 90½ 86¼- 88½ 86¼· 86½ 85 - 85
02 - 92
90½- 90¼ 90½- 91¾ 91¾- 92
92¾- 93
Plain, 1921. ... . . . . .. . .4 , .. 87 - 90¼ 84½- 89
91¼- 92¼ 01 - 91% 90%- 91¾ 90½- 92
91½- 92
Nebr'skaExt.,192,- .4 Q2 - 93½ 92¼- 93¾ 92¾- 93½ 93¾- 94¾ 91½- 93
Chlc.&.E.Ill.- lst,s,f.ff 118 -118 116½-116½116½-117 117 - 118 .... - . .. 116¾-116½115¾-116½ .... - .... 1••• • - •••• 115½ -115%115½-115½ 1111 -112
lstconsol,, ,rold ....... 6 120 -121½ 118 -12(1 118 -118 116 - 117¼ 116¼- 117 117¼-118½ .. . . - .. . . 121 -121 1121 -122 *117 -117½1116½-116½ •··· - · .. ·
93 - 95
94 - 96
08 - 98½ 96 - 98½ 99 -100
977/4- 99
97½- 98
97 - 9
97½- 99
9;; - 98
95 - 95
Gen. mo1.·t., 1937 .... o 97 -100
80 ·- 86½
83½ -88
86 - 88
Chic. Gas L. & C- lst ..;J 00¾- 94¾ 93½- 9/½ 9-Z½- 94½ !l2%- 95¾ 95¼- 98½ 96 - 96:1-:! 92 - 92½ 88½- 92 I
97½-100
96¼- 97¼ 97 - 97
97½- 97½ 96¼- 97
97 - 9
98 - 98¼ 97. -100
Chlc.&ln.C'lRy- lst .;l . . . - .... 95 - 99¾ 97 - 98½ 98 - 98
Chic. Mllw. & St. P.- .... 121 - 121 121 -121½ '120 -121¾ 119 120
1st, P. D., 1898. · ·. · · 8 126½-128 124 -124c½ 124 -125 124c -lU½ 124cl}s-125½ 124¼-125½ 125 -125½
- .... 11s7-{-11sJ4!+113-114 ni -116
,
- .. , . ...• 116 -116 116 -116½ 11s -119 120 -120½ 121 -122
2d, P. n., u~98.... .
ls t,gold, R. D,1902.1 122½-123½ 123½-124¾ 124)4-124½ l24¼-124c¾ 124c½-126½ 12r.¼-126½ 123 -123¾ 122 -122 122 -122 124c -124c
- .... .L09½-110 105 -110 107 -109
lat Lo. Crosse Div . . .. 7 110½-113 ll{l¾-112¼ 110 -112 113 -118½ 118 -119½ 118 -119 113¼-114 112¼-113 I
. . . 117 -117 118 -118 .... - •... lltl½-11 ½....
lat I. & M. Div .. . .. . .. , 115½-117 116¼-117 1116 - 117 1117 - lrn 120 -121 '
.. . L:34 - 124 118¼-122½ l2l -122
1st I. & D . Div ........ 7 .... - .... 118 -119 117 -117 120½-120¾ .... - . ... L:!2 122
- .... 122 - 124c% 113 - 120 122)4-122¼
1st C. & M. Div .... ... ,- 123½-124¾ 126 -126 ...• - .... 126 - 126 .... - ... . 12u rn11 117 -123¼ ... 1
124.¼ 125½ 125 -126½ 122 -122
125¼
124
-rn5%
1:!5
125%
Consol ., 190~ ......... , 124.%-127 126 - 126½ 126¼-127!!4: 127¼-128% 128 -1211.½ 128 129½ 125
- .... 123½ 123½ 121 - 125 121 -122 ···· - ····
1st I. & D. Exte n . .... , 124c%-125 125 -126¾1 .... - • . j127¾-127½ 128½-12 ½ .... - ... . 109¼-112½ 110¾-112¾
ht So. West. Dlv ..... 6 113%--114¾ 114 -114 1113½-114)4!114)4-115 115 -116 116 -116¾ *113½-14¼ 112)4-IJ.2½ .... 1
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
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1···· - .... ····
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·B.AIL1t0.AD · BONDS.
1890-c:Jontlnued.
BONDS.
JANUARY FEBR'RY,
MAR0H.
APRIL.
MAY.
JULY.
JUNE.
AUGUST. SEPT'BJIIR. OOTOBER. Nov'BER. DEC'BEk.
- - - - - - - - - - · Low.High Low.High Low.High Low.High Low.High Low.High Lqw.Hlgh Low.High Low .High Low.High Low·.Hii,i-h Low.High
Ch. M. & St. P.-(Om.)llilt La C. & Dav ..... . ~ .... - .... 102¾-102¾ 103 -103½ .... - .... 103½-103½ .... - •.. . 102¾-102½ . . .. - ..•..••• - •••. . •. - ••. ... .. 98¼- 99¼
let So. Minn. Div ..... 6 113 -117 114¼-lU¾ lU -115¼ lU¼-118¾ 115 -117 116)4-117¾ 113¼-113¾ 112¾-lH 113 -115 113 -lU 112 -113¾ 111¼..:113¼
1st H. & D. Div ....... '7 122 -124 123 -12!1, 123¾-124 123½-124½ 124½-127 127 -127 122 -123½ 120 ~121¼ 120 -120 121 -121 119 -120 117¾-123
18t H. & D. Div .... .. ~ 102¼-102¾ . .. 102½-103½ .... - .... 104c -104, lM¼-105 . 102½-103 102½-103 101¾-101½ lOQ¾-101 102 -102
09 -103
Chic. & Pac. Div ...... 6 116 -116 118 -118 .... - .... . •.. - .... 116¼-117 .... - .... *114c¾-U¾ .. .. - .... 115 -115 115 -116 . ... - •.. 113 -lU¼
Chic. & Pac. W.Div .. ~ 105¾-107½ 107 -108 106 -107 106¾-107¼ 107¾-100 108¼-100¾ 107 -107¾ 106½-107¼ 104c%-106¾ lM¾-105¾ 104c -106 103 -106
Chic. & Mo. R. Div .. ~ 102¾-102¾ 102½-102¾ 102%-102% 102)4-103 102::1:(-103¾ 103 -108¾ *101½-02¾ 101 -101½ 101 -102 100¾-100¾ 97 - 99 97 - 08
Mineral Point Div ... :i 103¼-lM .... - .... 108½-105 102½-103½ 104c -104c½ 103¾-105¾ *103-103½ .... - . . .. 104c -104c . ... - .... 101 -101 .... - ... .
Chic. & L. Sup. Div .:i 102½-102½ .. . - . .. 102 -102 103¾-103¾ . ... - ........ - • . . .
- ••. . 101)4-101¾- ..•. - ..... •.• - •••..•.. - •... ... . - ... .
Wl8,& Min. Div ...... :i 103 -103 108½-103¾ 103 -108¾ 103¼-104c¼ 108¾-104¾ 104c¾-106 *108½-03¾ 104c -104, 103¾- lM½ 102!)4-lM 99¼-100½ 101½-101½
Te1•minal .... ......... . 6 108)4-105 103½-104 103 -104, .... - .... 104 -105 105¼-106 103¼-103¾ lM -l0!l 103 -104, 101½-lM 09 -102 100 -100¾
Fargo & Sout11e1·n ... 6 .... - ........ - ........ - ... 122 -122 .... - . ....... - ........ - •....... - •.•..... - ....••.. - •....... - •... . . .. - •...
Inc. conv., S. F .... . .. :i 124¾-125 ... . - ........ - . . ...... - .... .. .. _ ........ _ ........ _ ••...••. -'- . •.. .... _ . .. ....• _ .......• _ ........ _ •...
Dakota & Gt. So . .. .:, .... - .... 101 -101 09 -100¼ 99 -101% 101¼-102½ 101¾-103½ ... - •...••.• - .... 100 -100¾ 100 -101
09 -100 .... - •..•
Gen. M.,"A" 1989 ... 4 95¾- 05¾ 95½- 96¼ 05¾- 06¼ 96 - 96¼ 9!l¼- 96¾ 94¼- 05¾ 91¾,- 91¾ 90¼- 91¾ 80¾· 90 88¼· 89¼ 87¼- 87½ ···· - ....
Chic. & N 01.•thwest'nConsol., 191:i . .... ..... , U3 -1!!4 U2 -U2¾ U2 -U2 U2½-143¼ 141 -142 Ul¼-142 Ul -142. . •.. - ..• . 139¾-140 139 -lil 135¼-138½ 135 -138
Gold, coup., 1902 .... , 126¾-127% 126¼-127 126 -128 127½-128 128 - 129 *124¾-126 125¼-126 123 -126 124' -124c½ 124 -125¾ 125 -128½ 124 -124,¼
Gold, reir., 1902 . ..... , 126¾-127½ 126¾-126% 127%--127% 127¾-127½ 124 -129 125¾-126 125)4-125½ 125 -125¼ 123¾·125 124"-124¾ 123¼·125 123¼'-124¾
8inkina:f'und,coup .... 6 115¾-116 117 -117 116¾-116¾ lH -114½ 114¼-115 116½-116¾ 11,6%-116½ 117 · -117 ••. - •••• 117 -117 115 -115 112 -113½
i &eiril!ltered .. .. . .... .. 6 113 -113 . •• - •• •.. ... - ........ - •...... . - . . ...... - ....•... - •.•. 117½-117¾ 118 -118 113 -113 •••. - •.. 112 -113½
Sinkina- iund, coup ... :i 108¼-100½ 108½-110½ 107¾-100 106¼-108 107¼-108½ 107)4-108,¼ 108 -108% 107 -108½ .••. - ..•. 105¾-107½ 103 -106 105 -106
Re1dstered .. ....... .:r, .... - •.. .•.. • - ........ - .... 106)4-106¾ ••.• - , ••. ... • - ••...••• - ••.. ..•• - •... .•.. - •••• 107 -107 .••• - ·· ·~ 103 -lM
Debenture, 1933 ..... :'j· 109 -110¾ 110½-111¼ lll½-111¾ 111 -112 109 -100½ 110 -110 100¼-109½ •••• - •• .• 108¾-110¼ 108 -110¾ lo4 -105¼ 105 -106¼
Registerrd ......... , .:i .... - . ... .... - .... 108 -108 111 -112 109¾-109½ 109¼-109¾ ... . - . . . . . . . - ........ - .... 105¾-107 . ... - . .. 106 -106
2:i yrs, deben., 1909.:i 105¾-106½ 106¾-108½ 107½-108 .... .. l0!l½-106½ 105¼-106½ _106 -107 lM¾-106 106 -106 106 -107 104 -104 100 -105
Registered...... . .. . 6 . . . . - . . . . . . . . - .... 107 -107 . . . - • . . . . • . . _ . . . . .. . . - . . . . . . . . - . . . . . . . - . . . . • • • . - . • • 106 -106 • •• • - •••. 101 -101
Exten. bonds, 1926 .. 4 96 - 98¾ 96 - 09% 96¾- 97 97¾-100 98½-100 99 -101½ 100 -100 00 -100 09 - 99 99 - 99¼ 98¼- 99 96¾- 96¾
Registered . . ....... . 4 96 - 06 . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . . - • • . . . . . . - . . . . . • • • - •••• , . • • - • • • . . . . • - . . • . . • . • - • . •• . . • . - • • . OOU- 96¼
Escan. &L.S., 1901.6 .... - .... ... 115 -116 .... - ... .. . ... - . ..... . . .... - •.... . .. - ........ - ....•••• - ••.. 110¼-110¼ .... - ••. .
• Iowa. Midland, l8t .. .8 . . . . - . . . . . . . . - . .. . . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . . - .... L28~-128¼
Peninaula, 1st cons .. ')' . ... - ........ - .. .. . .. - ........ - , ....... - ........ - ..... ... - ....... . - .... 118 -118 . .. . - .••. . ••• -: •••. · · · · - •·· ·
Chic.& Mil.-lst ...... ')' . . . - . . . . . . . . - . ... 119¾-119¾ . . . - • . • . . . .. - •••. 119¾-119¾ . . . • - • . . . • • • • - . . . . . . . . - • . . . • •• . - • • • . • • . ,. • .. . Ll4¾-116¼
Winona& St. P.-2d•' 1···· - •··· .... - ....... - ........ - . ... 134 -134 . . . . - ........ - ....•••• - •••.... - •.. . •••. - •••. ..• · · · · - ····
Mil. & Mad.-lst ..... 6 , ... - ........ - .... .... 116½-116½ 117½-117¼
- ..... ••• - ••.•..•. - .•...••• - .......• - ••.. •••• - •••. ···· - ····
Ottum.C.F.&St.P .5 1108½-108½
- ........ _ •.•. 108 -109
108)4-108¾ 109 -109
.... - •.....•• - .•... .. - .... 106 -106
•••• - ••.. 104 -104
No1•thern Ills.-lst .. :i ... . - ...
... . - .... 108¾-108½ 108)4-108¾ .... - .......• - •....•.. - .•.••••• - •••••••• - •••. 105 -107¾
- · · •·
Chic. Peor. & St. L.,g .:i 91¼- 9!l 93 - 95 92½- 96¾ 94'¾.:: 95 94c%- 97¼ 97¼- 99¼ 99 - 09½ 98¾- 09¾ 97 - 99 98¾- 99 98 - 98¼ 973(- 98
1
Chic. R. I. & Pac.Coupon . .. .. .. . ....... . . 6 129¾-130¼ 130 -181 129½-130¾ 129½-130 131½-132 131)4-131¾ *128 -128 128 -128 126 -128¼ 126 -127 121¾ -127 124¼-125¾
Registered .. ... ... . ... . 6 • •• • - • •• • . . . . - .... 129 -129 129½-129¾ . . . . - . . . • . . . . - .... 128 -128 . • • . - •••• 1269'-126¾ 126 -126 126 -126 121 -121
Exten. & Col.. ........ 6 lM¼-105% lM¾-105¾ 104c%-106¼ 105 -106 105 -105% 105¼-106½ *103}-s-104 102¼-103¼ 100¼·102¾ 99¼-102 97¼-101¼ ~5¾- 99¼
'Registered... ... . .. . :i 104~-106~ 105¼-105¾ 103¾-103¼
- . . . . • . • . - • . . . . . . • - • • . . . . • - • . • • . • • • - •• .• 100¼-100¼ 09,4-100¾ •••• - •• • • . . . . - • . ..
Keok'k&DesM.-lst,~ 102¼-105 103 -104: 104: -104 102¼-106 •.• . - •••. 102¼-102¼ 104%-105 .•• . - •••. 103 -103 100 -100 .••• - , . •• · ..• - ••••
Des M. & Ft.D.-111t,4 .... - ........ - .... 82¼- 82¼ ..•. - ... ..... - •..•.... - ... .••• , - . ••• 82 - 82 ••• • - •.•.•.. - •... 98¾- 98½ ···• - •••.
1st, 1906 . .. . .... ... .~¼ ••.. - •••..... - ••...... - •.•. 56¾- 56¼ .... - •. .. .... - •... . •. . - ••..•• •• - •••..••• - •. . .... . - . .. . ••• - •••. .. . • - .•. .
Chlc.St.L.&Pitts-lst.:i 100 -101¼ 103¾-lM 104 -104¼ 102 -103¾ .... - ........ - •.. . 103¼- l0!l¼ 100¼-106¾ 102¼-103¼ 98 - 98 99¼- 99¼ 100 -100
Registered ............ -~ . ... - ... ... .. - ........ - ........ - ........ - ........ - ........ - . .... . . - .... 100 -100 .. •• - •··· •. •, - • •· · · • •• - •···
Chic. ~t.P. ll'Iin.& Om.Consol., 1930 ...... ... 6121 -122¼ 120¼-121¼ 120¼-121¾ 121¼-122 121¾-123½ "'119 -120¼ 119 -120¼ 118 -120 117 -119 118¼-120 116 -1'1 9¼ 114 -USM
Chic.St.P.&M.-ht .. 6 ... . - .. .. 124¼-124¼ 123¾-124½ 125¼-126 123¼-124 ...• - .... 122 -122¾ .... - •••• 123 -123 •••• - ••.. 121¼-122 lJ.22 -122
St. P. & S. City-1st .. 6 124¼-126 126 -126 124¼-125¾ 122¾-123 123 -123% 123 - 123 123 -123¼ 123 -123¼ 124 -125 *121-121¾ 122¼-122¼ 120¾-122~
Chic.& W .I.-1st, s. f'. . 6 114 -11,i, .... - .. •. ...• _ .....•.• - •.•..... - •••..••• - •••. . . . . _ ..... ... _ ••••.... _ •... ••.• _ •....••• _ •••• ..•• - ...•
Gen. mo1·t., 1932 ..... 6 118%-118% 119 -119 117 -117 117 - 117 119 -119 117¼-117½ ••. . - •••..•.. - •••• 116 -116 .••• - •••.•••• - •·· • · ••• - • • · •
Cin.Hnm.& Day.-S.f'.,- . ... - . ..... .. - .... . ... - ........ - ........ - ....... . - ........ - ........ - ........ - .... 124 -124 120 -120 ..•• - ...•
Cln.In.St,L.&C.-ht.4 100 -100 99 -100 100 -102 100¾-100¾ 100 -1009 99¾- 99¼ 99 - 09 98 - 98 98 - 98 97 - 97 06¼- 97¼ 97 - 97
Cin. J. & M.-lst,con . .6 65 - 65 70 - 73 70 - 70¾ • • . • - • • • . . • • . - • . . . . . . • - • . • • . • . • - • • • • • • • • - . • • • • • • • - • • • • • • • - • • • • • • • • - •• .• • • • • - • • •·
~!:~~~l
~~~::~=!:::: ·o~· : Q;·· ·02·¼: 96¾ ·02·¼: 94½ ·o;; =92¾ ·01 ~ 94¾ ·o~ : 96¼ ~!¼= ·°' ~ 94M ·ii;; : 94.. ·91¼= 93¾ ·oo : 92¼ ·oo : 9iM
1
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· Clev. Cin, Ch. & St. L.("
CairoDiv.,lst,1939.4 ... . - •· ·· . .. . - .... 90 - 90 90 - 90 90 - 90 92 - 92 91 - 91~ •••• - .. . .•.•. - •.•. 89 - 89 ••• • - .... •··· - •··•
rn. c. c.& 1.-1st, s.id.7 120¼-120½ 120:14-121½ 121 -121¾ 121¾-122 118¾-119½ 118 -119 118¼-118½ .••• - .... 118 -119¾ 118½-120 ••• . - •••. rnr -116
ponsol. ............ ....... , .... - . .. . 133 -135 132½-184¼ .... - •.•..... - . ... 130¼-130¼ 130¾-130¼ ..•. - . ... ••• - ••...•• • - ••••
- • ••. 127 -127
General cons ...... .. . . 6 118¼-118½ 117¾-119 118 -118¾ 118¾-121 123½-125½ 125 -125¾ 122 -122 120¼-120¾ ..•. - . ....... - ••••.••• - •••. 117 -120
Cl.& Mah. V .-g.193S.:i · · · · - ·· · · .... - ........ - ........ - ... ..... - ...... . . - ........ - .... . .. - . . . . 107 -107
•• · - •••..• . , - ..•. · · · · - · · · •
Col. Coal & 1.-lst,con.6 103¾-108 103¾-104¾ 103 -104: 103¼-104¾ 104¼-105 104¾-105¼ 106 -106 103%-105 103~-106¾ 103¾-104 100 -1M 99¾-102¼
Colo1•ado Mid.-1st, g .6 . ... - .... 105 -105 .... - •••. 104 -105½ 104½-106¾ .. . . - ••.. 103 -l0!l¼ 103 - 103 106 -106¼ 109 -109 l0!l¼ -108¼ 104~-107¼
Consol., gold, 1940 .. 4 ... - .... ... . - ..... . .. - ........ - ........ - . . . .
- ... . .... - .. . . 66½- 70 ~9¼- 75¼ 71¼- 72¾ 70½· 70¼ 69¼- 70½
Col.H. Val.& T.-lst ... 6 74 - 79 76¼- 78¼ 73¼- 77¼ 75 - 82 81 - 83 81¼- 85 85 - 88¼ 85 . 88 82¼· 86¾ 81 - &
76 - 82¼ 74c¼- 80¾
Gen. gold, 1904 ... .. . 6 75 ·- 77
77 - 77
73 - 76½ 76 - 83¾ 83¾- 88¾ 83½- 87½ 88 - 89½ 85 - 88½ 87 - 88¾ 86 - 88
78 - 87¼ 78 - 86
Col.&Green.-lst,'16.6 .... - .. ..... . - ........ - ........ - .... . ... - .... 102 -109 . . . - ... ...•. - ...... . - •••..... - ..... .. . - .. •. .. •. - •.• .
2d, 19:l6 .. . .. .... . . . ... 6 · ... · - ...... .. - ...... .. - ...... .. - . . · . .... - , ........ - ... . .. .. - .... 89 - 80 .... - •... 86 - 86 85 - 85 · ·· · ·- ·•· •
Col.H'kC.&I.-191')'.6 .... - ........ - ........ - ........ - ........ - .... .... - .... 09¾- 09¾ .... - .• ...•. • - •••• 100 -101 99 - 99 100 -100
Del. & Hudson Canallst, 1891. ......... ...... 7 102 -103¾; 102¾-103¾ 103 -103¼ 103¼-104 103¾-105 100¼-l0i l(}0¾-101¾ 101¼-101% 101 -101¼ 101¾-102¼ 102¼-102¾ 102¾-103¾
1st extended, 1891 .. ')' 106½-106¼ 107½·107½ . .• . - .... lW¾-108¾ 105 -105 .... - ...... .., - ........ - ., ......••••..•.. - •••. 102¾-102¾ i()()f<r-100¾
Coupon, 1.894 . . ...... . .')' 113¾-114¾ 114¾-114¾ lU¼-116 111 -112 111)4-111¾ 112)4-112¾ 112¾-112¾ 112¾-112¾
- •... 109 •109½ 108 -109¼ 108 -108
Reg., 1894 ............. ')' .... - ... . lU¾-114¾ . ... - .... 1109:(-111 111)4-112 ... . - ••.. 112¾-112¾ 113 -113¼ 113 -113 .. - •••. 107¼-109 ... . .,,- .. . .
Penna. Dlv.-Coup .. ., U5 -146½ 145 -145 142)4-143 .... - .... li4 -146½ 146 -H7 148 -148 ...• - •••. 144¼-145¼
- •••. 140 -140 140 .- 141
Registe1.·ed .. ...... .. 7 .... - . ....... - .... 143 -143 .... - ......•. - ••.. 147½-147¼ ..• . - .....•.. - .••. . ••• - ••• ..••• - •.••.•.• - .•• 140 -1,4'0
Alb. & Susq.-lst, gu. ,- 123 -124 . . . - . . . . . . . . - • . . 130 -130 . . . . - •... 1~ -131 · 132 -132 · 130 -130 131¼-132 128,4-128¼ 128¼-128¼ 128 -~9
1st coup., guar . .... . 6 128 -124½ •••• - ••••.... - .. . . 121 -121¼ 121 -121¾ 121 -121 ...• - •... 120 -121 120½-121 -118 -118 118 -118 116 -118½
Registered ........... 6 .... - .... ... . - ..... ... - .. .. . . . - . ....... - ........ - ... . ... - . . ..... . - .... 119 -119 .• •• - ••...••• 114~_1-;1~
Rens. & Sar.-lst .... 7 147¼-149 149 -U9 148¾-U9¼ 149)4-149¾ .... - •....... - • . .. ; ..•. - •....••• - ••...••• - .••••••• - •••.•••• - , •••. U5 -145
Registered ....... , .. .')' . . . . - .... l!l9 -l!l9 . . . . - . . . . . . . . - ..• .- . • . • - • . • . . . . - .... , •.• . - • . . . . . . • - • • • . . . . . - • • . . . • • • - • • . . •• • • - • • • . . . . . - ... .
Del. L & W.-Conv .... 7 .... - .... 106 -106 107 -107,-4 108 -109 .... - •..... . . - .. . ..... - ..•...•• - • ....... - .•.•..... - ...• 10~. -103¼ .... - .. . .
Mort., 1907
. .... ... , 136 -136¾ . ..• - •... 132¾ 132¾ 133½-133½ .• .• - .....•. - •.. . ..•• - •....••• - •. •..... - .... 130 -130 . •••• - •... 131¼-131½
Syr.B'n&N.Y.,1st .. 7132¾-13!l¾ 133½-135 1:~5¼-135½ ... 132 -132 .... - .....••. - •.....•. - ..• 132¼-18!!¼130 -130 .••• .••• - ••..
Morris & Essex-1st., 146 -U6½ 146 -146¾ 146 -146 U5 -146½ •.• - •••• 143 -143 14!! -144
... - ..•. . ••. - •. .. 143 -148 189 -Hl¾ 139':(-141
2d Mo1•tg-age ........ . 7 107 -107½ lM¼-104¾ 104¼-lO!l½ 104c¾-10i¾ 104c¾-10!l¾ 104¼-105 105½-105½ .... - ..•. 101¾-101¾ 101¼-103 102¼-102¼ 102 -103¼
18'11-1901. .... ...... , .... - . ... 129 -129 .... - .. . . 126¼-127¾ 127- -128 126¼-126¾ 126¾-126¾ 125 -127 125 -125 122 -124% 120¼-124 121 -121¾
Consol., guar ..• . ••.• :1 rrn9 -HO¾ Ul¼-141¼ 141¾-142 140¾-142 142 -142½ 137½-138½ 138 -138 137¾·137¾ 135 -135 138 -HO 138 -140 130¼-183¼
N.Y. L. & W.-lst .... 6132¼-134 133 -184½ 132¾-184 184½-13!¾ 184¼-184¾ 132¾-134 *131-131 .... - ..•. 131 -131 131½-131¼ ••• 130 -130
Construction . .".. ~ ... :i .... - .... 111½-111½ lll¾-111½ .... - ... 112 -112 111¾-112 112 - 112 no -110 107 -100 108 •-109 106¼-108¾ 104 -108¾
Den. C. Cable-1st ... . 6 .... - .. . .. .. . - ........ - .... 101¼-101¾ 102 -103 102½-102¾ 100 -101 100½-101 100 -100 101¾-101" 100 -100 .••• - ••• •
Denver & Rio G~....:iitt.7 118½-1:;_8¼ 119 -119 118½-119 .... .. 117¾-117½ 117¾-118 117¾-118 117½-117¼ .••• - •••. 118 -120 ..•• - ••• 112¼-116
Nc:,w consol, 1936 ... 4 76½- 78"' 77¾- 79 78 - 79 79 - 83¼ 82¾- 83¾ 83 - 84½ *81¾· 82 81 - 83 81¼- 83 81¼- ~ 79 - 82 79 - 81
Imp. M., g., 1928.. ... {) 82 - 82¾ 82¼- 82½ 82½- 82¾ 81 - &
85 - 86½ 85¾- 87 *86%- 87
& - 85 · 83 - 84¼ 81 - 83
80 · & ~..; 81
Oet. lll. & ll'I.-L. g .•. . 3½ 36 - 38 38 - 38 35 - 38 35½- 38½ 38 - 39¼ 39 - 39¼ 36 - 37¼ 84 - 86
83 - 35¼ 83. - 84¾ 283'- 32
27< - 29
Det. B. C. &Alp.-lst .. 6 100 -100 100 -100 09 - 99 99 - 09 99 -100 .... - .... 99 - 99 .... - .•..•.•. - ..•. . ••• - •.•. 9!l - 9!l 90 - 93
Duluth & .I[. R.-tst . .. 6 Hll · -101¼ 100¼-101 iol¼,102¾ 100 -1003,s 100 -100 100½-100¼ 99 -100 100 -102 100 -100 ~ , . 97¼ 95 - 95 . ... - ....
Dul. S.S.& Atl.,193'1.:i 92 - 98 92 - 93½ 93¾- 9!l 95 - 97 97 -101 100¾·100¼ 97¼- 09 97 - 98¼ 96 - 97¼ 95 - 97 too - 96 00 - 95¾
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
"' Ex.interest.
t Under the rule; ca.sh.
1880--Ceatlll. . . .
. . .H.
JA.NUARY FJ:BR'RY.
MARCH.
APRIL.
MAY.
JUNJ:.
JULT.
1
AUGUST. SEPT1Bll:R. OOTOBJ:R. NbV'BBB. Dzo'BaB.
i
_ _ Low.IDgh Low.High Low.High Low.Ht,(b Low.Htgb Low.High Low.Htsb Low.Hltrh iLow.Hlgb Low.High Low.High Low.Htsll
B. Tenn. v.& G.-l■t .. 7 1-19 -120 119¾-119¼ 119 -119 119 -120 120 -121¼ 120 -121 11~-116¾ .... - .... 115¾-116 116 -116 114¾-116 .•.. DIT1alonal ............. 3 107¾-107¾ • • • - . . . . .... - •.•. ll°"-111 . .. • - .. .• . . • . - . . • . .. .. - • • • • • . . • - •• .. .. .. - • . . . . . • . - • • . . . .. - • • • • • . . • - ... .
Ooneol., l ■ t, 1938 .... 3 10:J¾-105 104"-106~ 105 -1063,t 105¼-108 106- 107 10~-106¼ 106 -1~ 105 -107 106¾-107¾ 105¾ 107 tl02¼·04¼ 100 -102
lat Ext., a .. 1937 .... 3 90¾- 91¾ 90 - 90 90 - 90 ••. - .••. 91¾- 93 .... - .... •··· - .... . .. - .... •··· - . ... •··· - •··· 90 - 90
Equip. & Imp., aold .. 3 . . . . - . . . . .. .. - . . . . 8911i- 89~ .. . • - . . . . .. .. - .. • . . . . • - • . . . .. • • - .. • . .. .. • .. .. • . . • - • . . . • . . . - . . • . •• .. - .. • . .. . • - •..•
Mobile & Blrm.-lat.3 88 - 88 •.•• - •....•.• - •... 89¾- ~ ...• - ····I 86 - 85 90 - 96 .... - ....... - ........ - ... . .... - ........ - ... .
Knox. & o.-tst, •·· .6 108¼-llO 110 -110¼ 11(%-111" 110 -111 110 -111M 110¼-113 ei10 -111 loo,t-111 109¾-110¾ 109 -111 .... - .. . . 10s -105
Alabama Cent.-lst.6 .... - ... 114¾-114¾ 115¾-115¾ 116¼-116¾ .... - .•...... - ..•..• . • - ........ - •.•.•... - ........ - ........ - ........ - ... . .... - .... . .. - .... 100¼-100}( 98 -100 98 - 99 95 - 97 96 - 97" 90 - 97 93 - 95
Edison E. Ill, Co.-lst.3 .. .. Eliz. Lex. & Bia. s .... ff 10s -104 100 -104 93¼- 96¼ 90¾- 0e 93~- 96¾ 93 - 94¾ 93¼- 94¾ 92¼ . 93 89~- 91 88 - 89¼ 87U- 90 88 - 89
haft. Ga■ • & F.-tst..8 .... - ........ - ..... . .. - ... . 95 - 96 97 -100¾ 100 -101 97 - 97¾ . ... - ........ - ,. ..... - ........ - .... 83 - 88
Brie-ht, "Ext., 1897 ... 7 120 -120 120 -120 120 -120 . ... - . . . . 117¾-117¾ 118 -118 117 -118 118¾-118¾ 118"-118" .... - .... 117¼-11™ ..
!Id, Ext., 1919 ... ..... . 3 117¾-118 117¼-118 114¾-114¾ . . . - •... 115¾-115¾ .... - ... • ... - .• . 118¼-118¾ 116¾-116¾ 116 -118 117 -118¾ 114 -114
3d, Ext., 19~3 ....... 4¾ 108 -109¾ 110¾-111¾ 109 -109¼ 109 -189 109 -109 110 -110 111 -111 .... - ....... . - ••.. 109 -109 107¼-109 107 -107
4th, Ext., t9!JO ....... 3 116 -116 116¾-117 ... . - ... . xll4-115 115 -116 .••. - ... 117¾-118 118 -118 .... - .... 114 -115 114 -114 112 -112
3th, Ext., 19~8........ 4 . . .. - .... .. .. - ... . 104 -104 10:J¾-108¾ 103¼-104¼ 103 -103 103 -104¾•102¾-103¾ ... . - .... 102 -103¾ .... - •.•. 99 -100
l ■ t, con■ ol., &'Old .. . ... , 137¾-139~ 139 -139¾ 136 -136¾ 134¾-136 135¾-136¼ 136 -137 .... - .... 137 -137¾ 13' -134~ 133¾-134¾ 132¾-133¾ 130¾-181¾
- .. .. .• - .... 137 -187
1st con. fund coup .... 7 .... - . .. . .. - ... 136¾-136¾ 133 -133 .... - ........ - .... 100 -100 ... . - ....
Reor&'an., 1st llen ... 6 ... . - .... .. - ...... . - . ... 110 -110 . . .. -108¼ 108 -109 103¾-104¾
108¼
-108¾
108
....
....
-107
167
-107
107
-110¼
110
-110¼
110
Lona Dock, 1893 . ... . 7 108¼-109¾ 109¾-loo,.( loo,t-110¼
t}OB8. &'Old, 193:J ... 6 120 -122¾ 121 -12! •.• . - ... 120 -120½ 119 -120¾ 120 -120 119 -120 120 -121 119¼-120¾ 117¾-117¾ 117¾-119 117 -117¼
- ........ - ........ - ........ - •.•. 133 -133
Buff. N. Y.&E.-l ■t.7 189 -139 .•. - .... 139¼-140 .•. - ........ - ••.. 138 -138 .... N.Y.L.E.&W.-~dcon.8 100¼-102¾ 100¼-102¾ ~102 99¾-105 104 -107 •103!4--05¼ 103 -104~ 101 -103 102¼-103¾ 98 -102" 94 -100~ -es - 97
Col. truat, l~!J ..... 6 . . . . - . . . . . . . . - .... 1~-108'1! • .. • - .... 107 -111 . . . . - . •• . 112 -112 . • .. - .. .. • • .. - . . . . • • • Fund. coup •• 1989 3 87¾- 88 i;i7¼- 89 88 - 88¾ ... . - .... 90 - 94 ~ - 89¾ 89¾- ~ 90 - 90 90 - 91¾ 00 - 00 85 - 90 .... - .... 105 -105 106 -107 107 -107 .... - .... 107 -107 104 -104 .... - .... 102 -102
.Jeff'ereon RR.-ht&'.3 106¾-106¾ 105 -105¾ •••• 107 -107 .... - ........ - ....... - ........ Eureka 8pr'••-l•t,&'.. 6 . . . . - ... . ...
- ... 112 -112 ...• - ........ - .... 109 -109 100 -109
Ev.&lnd'p.con.,19~6.6110¼-110¼ .. . . - ... . 112 -112
Ev. & T. Haate-Oon .. 8 115¼-117 118 -118 118 -118 120 -122¼ 121¾-122 121 -121 118 -118 . ... - ••• 118 • 118 117¾-119 .... - •.•. 114¾-118
........ - ... 106 -106
- .....••• - . ....... - ....... . 115¾-115¾ .... Mt. Vernon-l ■t ....... 6 ... - .... 114 -114
Flint & P. M.-Mort . .. 6 .... - .... 121 -122 122 -122 119*119~ 119 -119¾ 119 -120¾ 121 -121 1120 -120 . ... - .... 116¼-117¼ 115 -117 115 -115¾
tat cons., II'•• 1939 ... 3 ... - .... 104 -105 105 -106 107 -107¾ 107 -107¾ ..•. - . . ...... - ....... - ........ - ........ - .... 100 -100 .... - 4 ~..
.... - . . . . .. . - ........ - ........ - •... 100 -100 98 - 98
........ - ....
Pt • .Hur. Div., 1st .... :J .. .. Ft.W.&Denv.C.-bt .6104: -106¾ 108 -105 103"-106'1; 106¼-109¾: '1 08 - 110 •105.-107 l°'U-106 108¾-106 103 -106 103"-106¾ lOlM-105" eg{3'-101
70 - 70 ...• - ........ - ... . ... - ........ - ... . ··• - .... 74:"- 77 75 - 80 78 - 81
Galv. H. & H. ot'8!1.. 3 .... 99¼-100 .... - .. . 87 - 87
... - ....
- .. .. .... - .... ....
- ..... . .. Gal.H11r.&S.A.-lat.6 .... 93 - 94¾ •87 - 91
- 93
92
97
97
93
98
98
95
98¾
400¾....
....
-100¾
97
.
..
.
....
-100
97
.
.
..
....
~d mort, 1903 ......... 7
93 - 94¼
95"- 95" 02¾- 94
94:¾- 95" 93 - 93M 98~- 94:~ 94 - 95~ 94:~- 95" 95 - 96
Western Div-1st .... 3 93¾- 98¾ 98¾:- 94~ 94: 96 - 9G .... - ........ !Id, 1931 ....... ....... . 6 98 - 98 .•.. ~- 99¼ ... .
- . ... 98 - 98¾
Ga. So. & Fla.-ht, &'·ti .... - .. .. 92 - 92¼ . .. • Gr. Rap.& Ind.-Gen.3 . .. . - .. . . 91 - 91 . . . .
- .... 112¾-112¾ . . . . 1st, ll'Uar., 1899 .. .. '7 .. .. - .. • .. .. - . .. . . . . • - .... 100 -109
lat extended land .... 7 .... - .... .. ..
- ........ - .... 90 - 90 .... - .... 90 - 90 ....
Gr.B.W.&St.P-lstM.6 81¾- 82
- .. .. . • • • ~, Income .............. ~ 16 - 22 20 - 28 24 - 25 23 - 2Q 29'1- ss~ 32 - 83 .. .. - . .. • .. .. - ........ - ........ )!-st subs. paid.......... 18 - 1a 21 - 21¾ .... - .... 23 - ao .... - ........ - ........ - .. • . .. .. - ... . .. .. - . . . . 29Jr 33¾ 31 - 32M 33 - 33" i7 - 27 . .. • 2d ttubs. paid .......... · · · · - · · · · . ..
- .... 114 -lli¾ lU¾-116¾ 115 -116 112¼-llJM
Ban. & St. Jo.-Oons. 6 128 -120 120¼-121 117ff-117¼ 118¾---118¾ 117 -117 116 -116 118 -119
.. . - .... 110 -110 .... - ... . 110~11~ lllff-111'-i .... - .... 108 -108 .... - .... 108 -108 108 -108
Ren. Brldae Co.-l■t ... 6110¾-110¾ .. - ........ Houaat'c-Coa.,1937 .. 3 105 -105 106 -107 107~-1017¾ .... - ... . 106¾-105¾ 105'A-106 . .. - ........ - .... 105 -105 . .. .
- .... 107 -10™ 104 -105 103¾-103¾
_ ... . ... N .H.&D.,con.,1918.~ 105%-106 106 -106 106¾-106" .... _ ........ _
_ ... ... _ ...... .
_ ...... . . _
_ ..... . . _
Houa.&T.C •.-t ■t,M.L., 115¼-115" .... M. L. Trust rec ..... . , .... - ....... .
• • .. 11(%-110¾ 110 -113 114 -lli¾ 112 -112¾ 113¾-115 _1131'-114:¼ 112~-113¼ 111 -114: 1~·100¼ 109 -110
lat, Weatern Div ...... , 106¾-106¾ ... .
.... .....
.... ...
Trust receipts ...... '1 . .. . - .... 111 -111 .... .... llJ -114 .••. - _.. ,
.... • · • · • • • · . 110 -110 .... - ... . 110 -110 • • • • ;.. • • • • • .. - .... 115 -115
Waco & N. W.-ht .. '1 .... _ ...... ..
.. .. . .. •
........ _ . . • . .. •
!Id, Main Line ....... S 120 -120 . . • • Trust Receipts ... . .... .... - •... 122¼-122¾ 120¾-122¼ 111 -115 ... - . . ....•• - ... . .... - ...... ..
73¾- 77"
73 - 77
- 74
70
75
Gen. M.,Trustrec ... 6 75¾- 76 75 - 76¼1•··· - ... . 75¾'.- 78¾ 80¼- 80~ •• •• - ... . .... - ....... . - . . . . 72 92~- 92"
00 • 91
lll.Cent-Gold,*1931.3¼ 91 - 91~ 91 - 91" 91.H- 92 91¼- 92¼ 92¾- 96 94, - 94¾ 93 - 93 93 - 93 98 - 93
. ....... - . . . 105 -105 105 -105¾ 102 -105
lat &'Old, 1931 ........ 4 1~107 107 -1073-( 1107 -107¾ 108¼-108¾ 107 -107 108¼-108¾ .. ..
98 - 98
.. •. 101 -101 .. . • - . • . . 98 - 98
Gold, 193!1 ............. 4 100¾-101¾ 101¼-101¾·102~-102¾'.100¾'.-101 100¼-101 101 -101 .. ..
Sprln&'f. Div., '98 .... 6 .... - ···· .... - .... 1112¾·112¾ 112~-112¾'. .... - .. . .... .
••• I
.... - . ...... . .. . 115 -115
Mid. Dlv.,rell'.,19·~ 1.3 96 - 96 .... - •... 1. . . . 115 -115 .... C.St.L.&,· -..-ht,c.'7 117 -118 117,S-ll~ 119 -119 119 -119 .•.•
_ ........ Tennest.t.. ,ten ...... 7 •··· - . ...... - .... 119 -119 . ...
.... 114. -115 118 -118 110~-116
- .... 116 -116 115¾-115¾ 116 -120 117 -117
1Gold, coup ....... •• •.. 3 · · ·· - .... 107¾--107¾
- ........ - .... us -113 115 -115 ... .
Gold, re ..... . .. . ...... 3 ··· · - .... 94-94, . ... - ....
Memp. Div., lst,ir.,4 97 - 98¾ 97~- 98 ~ - &7~ 00¼- 96¾ 96"- 97¾ 96 - 96¾ 96 - 96¾ 95¾- 96¼ .•..
_ • . • . .. .. _
- •••• 103¼-103¾
.. . • .. . •
Dub. & l!l.C.-~d Div . 7 10'7 -108 . . ..
Cedar F. & M.,let ... 7 74 - 74:¾ . . . . - . . . . 70 - 70 66 - 90 80 - 90 82 - 82¾ . . .. - • .. . ... - .... 80 - 80 77~- 82 80 - 81 79 - 7~
Ind. D. & Spr.-tst, 1 .7 .... - ... 100 -100¾ .... - •••.. •.. - .... 98¼- 98¾ ....
. . . . 100 -100 ...• - • ... . . . . • ... .
Do trust receipts .. 181 -101 101¾-102 99 -101¾ 98¼- 99 98¼- 9~¾ 98 - 99 9J - 99 . ... - ... . 96 -106 100 -104
81¾- 32
30 - 30
30 - 34
_
........
_•
.....
........
........
....
.
...
....
lnc.3
W.-~d,
&
D.
Ind.
- .•. . 35 - 35
Intern. & ,Gt. No.-l■t.6 109~-112 110¾-112 110¼-lll¾ 110 -110¾ 111~-116¾ 115 -116~ 114¾-116 113 -113 112 -115¼ ll3 -116 111 -114 111 -112
80 - 80
Coupon, 1909 ........ . .6 73¾'.- 76¾ 76 - 77 75¼- 76¾ 75~- 76 76 - 87¼ ... .
Do trnst receipt■ .. 73¾'.- 76¾'. 75!J.(- 77 76 - 76¾ 75¼- 75¾'. 76¾- 89 87 - 87'7A 80 - 87¾ . . •. - •••• 80 - 80 75 - 77~ 73 - 76¼ 70 - 73
Iowa Cent.-lst, aold .. 3 85 - 87¾'. 86 - 87" 85 - 86¼ 86¾- 88¾ 88 - 91 87¾- 88'4 86¾- 87,t 85 - 85~ 84, - 86 83}.s- 863' 81 - 863' 76 - 81
- •••. 71 - 71
Kan.&Mlch.-1990 .. 4 .... - ........ - . ...... - .... ,.... - .. . ... . . _ ... . . . .. _ ... . . . . . - ....... .
·Kentucky c., 1987 . .... 4 84 - 85 84¾- 84¾ &i¼- &'-t 83"- 86 84 - 84!J.( 84¾- 85¾ 82 - 84¼ 83 - 84,~ 81 - 81¾ 80 - 81¾'. 79 - 81¾ 78 • 81
Kln&'S Co. El.-lst, A.3 104 -105 104¾-105 103¾-104¾ 104 -106 104 -104~ 104 -104¾ 102 -102¾ 100 -101,t 100 -100¼ 100 -100~ 99¾-100¾ 100 -100
Lael.Gae, St.L.•ht, &'·3 ·· · · - .... 84 - 86 81 - 84 81¾- 85¾'. 83~- 89 82¾- 86 82¼· 84¾ ~9"- 81¾ 79 - 80¾ 78¼- 79 74"- 75 69"- 80
Lake Erle & w.-l8t .. 3 110¾-lll 110 -112 110 ...J.11¾ 109 -lll 111'8-112¾ 111¾-112¾ 110 -llO 109¾-110¾ 100 11()¾ 107 -109¾ 107 -108 105¾-108
Lake Shore & M. So.01. Palna. & Aah ...... 7 106¾-106¾ .•.• - •... 109¼-109¼ 106 -106 1063,t·l~ 106 -106 .... - ........ - ........ - •... 103¾-103¾ 104 -104 l°' -lOi
Buff. & Erle-New .... 7 121 -121 121¼-121¾ 121¾-121¾ 118 -119 118 -118 117¼-118¾'. 11~-118~ 118¾-118¾ . ... - .•.• 115 -115¼ 114:,.· ll~ 114~·113
. •.• - ........ - ........ .... _ . . ...... - ... . .... - • •• . . . . .
Det • .Mon. & Toi . . .... 7 133 -133¼ lS0¼-130~ .... - ... 131 -181
L. Shore-Dl"Yldend .. 7 123¼-123¼ 123¾'.-123¾ 123 -123 119 -119}.s 120 -120 118¼-118¾ 119¾-119¾ 119¾-119¾ 119 -119 116¾·116¾ 118 -118 116 -11~
1st con., coup . ....... 7 124 -126 125¾-126 125 -126¾ 125 126 1.25¾-128 128 -128 122¼-122¾ . .. - . .. 124~-125 123¾-123¾ 122 -124 121"-128¾
"1. ■t con., re ........ ... 1124: -125 125 -125¾ 123~-125¾ 122¾-123¾ 122¾-12! 124 -124:~ 121¾-123 12()¼-121 121 -123 1211¼-121" 120¾-120¾ 120 -121~
123 -124% 122,.-125 123~-124 122¼-122¾ 123 -123¼ 123 -124
!Id con., coup ......... 7 123"-125 125 -125 124~-125 125 -125¾
1
~d con •• rea .... ......~, . ... - . . .. l.23¼-125 124 -124" 124,¾-125¾ 124 -127¾ .. .. - ..•. 123¼-123¼ 122¾-123¾ 122 -122¾ 123 -123 120¾-124¾ 1~~
Mahon.Coal tet,'34.3 •··· - . ..... . . - ... .. ... - ........ - . ....... - .... 109 -100 .... - ....... - •... 107 -107 106 -110 l~-107¾ ..• . - .. ..
. ....... - ........ - ... . .... - ..... .. . - ........ - .. . ..... - ........ - .... . ... - ... . .. .. - ........ - .... O'J -102
Leb.V.,N.Y.-lst&'U·&'•4 . . . .
.. ..
....... , . ....... - .•...... - .•.. 1 : ..
- ........ - .... 97"- 98 ....
Lltch.C.&W.-lst,a.-.. ....
Lon&' l■land-l ■t, '98.7 •··· - •·· 120 -120 .••• - .... 121 -121 117 -117¾ 1117¼-119 118 -118 .... - .... 120¾-120¾ 118 -118 114:U-114~ ..• - ... .
1¾-112
bt. consol, 1931 ...... 3 U.6 -117¼ 116 -116 115¾-116 116 -11~ 117 -117 114 -115¾ lU¾--114¼ 112 -114~ 113 -113¾ 111¾ 112¼ 111~112
. Gen. mort., 193~.... 4 97¾- 99 08 - 99 96"- 97¾ 95"- 97~ 9G - 96 94 - 94¾ 94 - 94¾ 94 - 94~ 93¾- 94 93~ 93~t9i - 99 90 - 90¾
........ - . . . . . . .... lO'l -102 •••• N. Y • .Ir R. B. tac, a.. 6 .... .. .. . .. • - • . • . .. • - .. .. .. • • - .. •. 85 - 35 .. ..
~d, Income.......... .-. . .. • - • • . . .. • - .... 101 -101
- .. • . • .. • - : . .. 99 - 99 • . ..
N. Y .B. & M. B., tat .. 3 .. . . - .. , 1 . . . . - . . . . . . . . - . . . . 101 -101
......... .If. Y .& M.B.-:lst'97 .7 . ... ... . .... - ....... .
- .... 109¾-109¼ .... - ........ Br. & 111., 1st, 191 t.:J .... ........ - ..... , ..
109 -109 .... Sa. & P • .J., t ■t . . ... . . 7 110 -110
t 17aclw tlle rule; ~ .
*Coll)Wll oJr.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1···· - •···
94:"
-
-
- ... .... -.......
-
-
- ........
126 -128
t~l~
RAILRO.A.JJ__ .BONJJS.
1890-Contlnued.
BONDS.
~
FEBR'RY'. ~
_ MAY.
APRIL.
_:UN!::_
JULY.
AUGUST.
SEPT'BER. 0CTOllER. NOV'BER.
DEO'BEB
- - - - - -- - - - Low.Hig~ Low.Iligh Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High
L.Jh•.&St.L. -C.: on.lst ~ .... - . . . . . . - ........ - ........ - ........ - . . . . 89¾- 92 89¾- 90
88¼- 90
84 - 89
85 - 88½ 88 - 00
86 - 89¾
Louis. &Nashv.-Con.1115 ,- 119 118½-119 118½-119¼ 115½-116¾ 116 -116¾ 116 -116% 116½-116¾ 115¾-116% 115 -116% 112¾-113l? 111½-113¾ llQ¼-112
Cecllian Branch ...... ? 108 -109½ 109 -109 105½-106 .... - .... 109½-109½ 106 -106 .... - .... 110 -110
- .... 102 -1~ .... N. O. & Mob-18t ..... 6 115¼-117 117 -118 118 -118½ 117¾-118¾ 120 -121½ 120½-121¾ 118 -118½ .... - •... 117 -117 115 -117 116 -117¼ lli -117¼
2d .... .. .... .. ........... 6106 . -108½ 109 -110¼ 109½-109¾ .... - .... , .... - ........ - .. ....
- ...... 107 -107 ·· ~. H. & Nash.-lst.--6 113 -114 113¾-114¼ 114½-114½ 114½-114½ 116 -116½ 113½-113½ ... - .... 115 -115¾ 113 -113 113 -114 113 -114 ~08-110
General mo1·t .... .... . .6 113 -114 113½-115¾ 115½-115¾ 115¾-115:J:( 115¾-116½ 115¼-115½ 115 -116 110 -110 114!4-114¾ 113 -114½ 113 -114¾ 110 -114.
Pensacola Div ... .. ... ti 108 -110 1083,,(-110 107½-109 .... - .... 102 -106
St. Louis Div., lst ... 6 .... - .... 117¾ 118 . .. .
- .....•.• 2d, 1980 ................ 3 . ... .... 68 - 68 ... .
Nash. & Decatur...... ? 118¼-119½
- .... 118¾-119 .. ..
. .. . 119 -119 119½-120 116¾-116.!4 ....
. ... 117 -117 117 -117
So. & No. Ala., s. f'. . . 6 .... - .. ..
101 -1,01
Ten-Fo1·tv, 1924 ..... 6 105 -105
104 -104 . . . .
100 -100 ••••
Pensac. & Atl.-lst .. 6 106¾-110 107 -110 107 -109.!4 108 -1io ios¾=lOO .. /i09¼=109½ 109¾=109¾ 106 -106¾ .... 103 -105 100 -100 101 -103¾
~0-yr. gold, 193? . ... ~ 105½-106
.... 108 -109 109 -109½ 108 -109)4 108 -108½ 109 -109¼ 108% 108½ . ... - .... 105 -105
Col. trust, g-., 1931 ... ~ 104:1:(-108 105 -110 107:1:(-109¾ 107 -108½ 105½-106 104¼-100 105½-105½ .. .. - . .. . 103½-105 101:1:(-102 .... Nash.Fl.&S.,lst,iru .~ 102 -104 102 -102½ 102¼-102½ 102 -102¾ 103 -10± 103 -103½ 103 -104 100 -101¾ .... - ... 101 -101½ 100 -100½ 98 -100
So,&No ...-Ua..,con.gu.:i .... - ........ - ........ 107:1:(-107¾ 107%-108
Lou. N. Alb. & C.-lst.6 114½-116 116 -119 115 -117~ 115 -115 117½-118½ .... - ........ - .... 111 -112½ 111 -113¾ 111 -111¼ 110 -113 106 -109
)Con., aiold, 1916 .. ... . ti 103 -105 103 -104
98 -104¾ 95¾-100¾ 100 -102½ 100¼-103!14 103¼-105 102½-104¾ 101½-104 *98½-101
90 - 99
89 - 95
General, a-., l 940 .... ,'i . . . .
- ..... ... 88¾- 00¼ *90¾- 00¾ ... .
Louis. N. O. & T.-lst .4 90 - 90
90 - 90
89 - 89
90 - 90
90 - 90
89¾- 90
90¾- 91½ 89¾- 90¼ 89)4- 89¾ 89 - 89¾ 89 - 90
2d mo1·t .. 193-t.... ... . /> 40 - 40
........ _ ....... . _
L.St.L.&T.-lst,g,'1 ?' . ti 100¼-101 97¾- 98¾ 97¾- 99
97½- 98¾ 97¾- 98
98 -101¾ 101¾·104 *99 -101
99½-100:h 99½-100¼ 80 -100
73¾- 80
Lou. So.-lst, g.,'1?" ... 6102 -104½ 101 -104½ 92 - 99 .... - .... 85 - 85½ 85 - 88½ 86 - 90
85 - 90 .••• ..... .. - .••..... IUem.& Chas.-Gold .. . 5 104 -104½ 105¼-105¼ ... - ........ - .... 105 -105 107 -107 105 -105 }.03 -103 105 -105~ 104¾ 104¾ 102½-102½ 101 -100¼
1st con. Tenn. lien ... '7' ....
- .......• 120 -120 123 -123
Metropolitan El.-lst .. 6 112 -113 112½-113½ 112½-114¾ 114¼-116½ 115½-~17 116 -117 *113¼-14½ 112½-113¾ 112 -113½ 113 -114 112 -114½ 112½-114¾
2d, 1899 ... ... ... .. .... . 6 106 -108½ 105%-108¾ 106 -108½ 108 -110 106 -107¼ 106l,4-107¼ 107½-108½ 107 -107¾ 106 -108 107 -107 100 -103¼ 100 -104
Mex.Cen.- New assen .4 70!4- 70¾ .... - • .•• I...•
Consol., 1911 .......... 4 :··· - ... . 74¼- 74¼ 75¾- 76
78 - 78 . ... ht con. inc., 1939 ... 4 .... - .... 39 - 39
2dcon.inc., 1939 .... 3 .. .. - . . .. 21¼- 21¼ .... - ....... Mex. Nat.-lst, 192? .. 6 96 - 96 .... 87 - 87
- . • . . 91½- 91½ 88 - se
- .... 95 - 95
95 - 95½ 92½- 92¼ 92½- 92½ ... 2d income "A" ........ 6 57 - 57½ 57 - 57¾ 51 - 51
- ..•. 40¾- 45
51½- 51½ 50 - 52
52 - 52¾ ..•. - •••..... - .... 10 - 10
2dincome "B" ..... ... 6 .... 17 - 17
11 - 11 .... - .... 12 - 15
Mich. Cent-lst,consol .? 126 -128 127 -128 127 -127¼ 127½-129 125- 126¾ 125½-127 125¾-126 126 -126½ 125½-126 125 -126½ 121½-123 120½-122½
1st, COBl!IOI. • ••. •• .....•• ~ 111 ...111 111 -111 lll½-111½ lll½-111½ 110 -110 110 -110 108 -108 109 -109 109½-109½ 110 -110 107 -107 104½-104½
1909 . .. ........ . .... .... 6 .... - .... 120 -125¼ .... 116½-116½ 115¼-115¾ .. .. - .... 110 -113½
Coupon, 1931 . ......... ~ .... - ... 115 -116½ 116 -116
.. .. 115½-115½ .. . . Registered, 1931. . . .. ~ .... - . ... 116 -116 115½-116 ....
- . . . . . .. - .... 102 -102 ....
lllortgo.a e, 1940 . . . ... 4 . . . . .... 102 -102 .... - . . .. 101¾-101¾ .... - . •• 102 -102
Jack.L.&Sag,1891.6 .. . . - .... 104¼-104½ .... - ..•. 101½-101½ ....
Mil. L. Sb. & W.-lst .. 6 123 -123¼ 121 -121½ 122 -122½ 122¾-125 120 -122½ 119½-122 121½-122½ 120½-122.\~ l'21 -122 120 -121½ 116¾-119½ 116.l,fr-118½
,Conv. deb, 190?" ... ... ~ 101¾-104¾ 102¾-102½ .... - .... 100¼-100½ 103¾-103¾ 103¾-103¾ .... - .... *101½-02½ [00%-101½ .... - .... 101½-101½ .... - ....
- ... . 100 -101 100 -101½ 97¾- 99¾
Ext. & Imp., s. t . .. .. -~ 101 -105¾ 102 -103¾ 101½-102 101¼-103½ 103 -104' 102½-105 103¾-105
101 -103 .... Income ... ...... .. ...... . 6 .... - ... ..... - .... 102 -104 103½-106
... - .... 100 -100 101½-101½ .... ... - .... 117 -117 112 -116¾ 117 -117
lllichia:o.n Div., 1st .. . 6 115½-119 116.½-117 116 -116 116½-118 119 -119 . . .. - .... 114 -114
Ashland Div., 1st .... 6 .... - ... . 120 -120 .... - .... 114½-114½ .... - .... 117½-119 119¾-120
MU. & No.-lst, 1910 .6 110½-111¼ 110¾-111½ 111 -111½ 111 -111¾ 111½-113½ 109½-110½ 110½-111¼ 111 -111½ lll½-111½ 111 -111 110 -111¾ 105½-107¾
1st, on exten., 1913 .. 6 108¾-109 108½-109½ 109½-110¾ 110¾-111 111¼-113!4 10972 -110 ,111 -111 lll½-111½ 108½-112 11') -110½ 109 -110 106 -107½
Mlnneap.& St.L.-lst.? . ... - .... 106 -106
- .... 105 -105 103 -103 . ... - .. .. 103 -105 101 -104½ 100 -10,!,½
90-92
90-00
Iowa Extension ...... ? . . . 88 - 88
90 - 90
- . . . . 98 -100 .. . .
- . . . . 90 - 90
90½- 90½ 90 -92
2dmort., 1891 .... . ... ,- .... 53 - 57
60 - 61
58 - 58 .... - .... 59 - 59
50 - 50
73-73 .... Southw'st.Ext.-lst.7 ... - .... 73 - 73 74¼- 7±¼ 83 - 83
- ... . .... Pacific Ext., 1st .... ... 6 .. .. 89 - 89
57½58
....
Imp. & equip,, 1922.6 64 - 64 .... - .. .. 62½- 62½ .... Minn.S.S.M.&At.lst .~ .... - .... 9± - 94
Mo, Pac.-lst consol. .. 6 109¾-111 111 -111 111 -112½ lll¾-113 109 -110 109½-110% 110¼-110% .... - .... 110½-111 109 -110 105 -107¾ 103¾-105
3d, 1906 .... ........... ? 114½-115 115 -115 .... - .... 120 -120 116½-120 116 -116¾ 114¾-115 114 -115 113 -115 115½-116 tlll -113½ 111 -114¾
Trust gold, 1911' ..... ~ 99¼- 99½ 99½-100¼ ____ .......... - .... 97½-100.½ .... - .... 95½- 95½ .... - ....... - . ... 79 - 79¾ 91¾- 91¾ 91¾- 91¾
Pac. of ll'lo.-lst, ext ..4 98¾-101.½ 99 - 99% 08¾- 99
99 - 99¾ 99¾-100
99¼- Q9% 99)4-100
95 - 96
96½- 98
96¾- 97½ 97 - 98
90 - 96
2d, 1891 .. .... . .... . .. 7 lOl¾-102 102¾-102¼ 102¾-103 102¾-103 102)4-102¼ 102½-103 100 -101 100½-101)4 . . . - ... . 101¼-101½ 101¼-101½ .... Mo. K.&T.-Gen. con.6 71½- 75½ 73 - 77 . . . . - • · · · •·· · - . . . . . . . . - .. .. .. . . \. f!'rustreceipts .. ..... 6 7~½= 7~
73 - 75¾ 73½- 76 _
80¼ 79¾:11; R5 - 88
81½- 86¾ 81 - 3
80 - 84
79 - 81½ 79½- 79½ • • • • Gen.consol, 1920 .... 5 6 ½ 65¼ 63 - 67½ 1 .... - ....
- ........ ...
Trust receipts ...... 5 63 - 64½ 65 - 66 64 - 65.½ 63¼- 70
6914- 7c;
71 - 76½ 73 - 73¼ 70 - 72
70 - 72
69 - 70 • • •. - ..•. • • • • Consol., 1904-5-6 . ... ?' 110¾-113½ 112%-114 113)4-115 115 -116
77¾- 78¾ 71½- 78½ *70 - 75
l8t, gold, 1990. . .... 4 .... - ........ ~ ..
43¼- 46½ 33 - 45¼ 84 - 40
2d, lncom.,, 1990 ..... 4 .. .. - ... .
lt lobile & Ohio-New . . 6 115¾-116 116 '-116½. .. - .... 115½-117 115¼-116.½ 113.½-114 113 -115 112¼-116 .... - . ... 115 -115 113 -113½ 109½-111½
- .... 1(,9 -109 108 -108
1st, exten., 1921' ...... 6 . .. - ........ - .... 113 -113 .... - .... 113 -113 .... - .... 110½-110½ .... - ........ 64 - 67
57 - 65¾ 56 - 62¾
Gen. ll'.I., 1938 . . . . . . . .. 4 57¾- 65½ 6! - 65
57½~ 61
57½- 63¾ 62!1- 63½ 62 - 63
63 - 67
63½- 66 *62 - 67
1st pref. debent .. . . .. .. . 75 - 75
- .. .. 71 - 71
St.L.& Cai1·0-Gnar.4 77 - 80¼ 79½- 80 77½- 80¼ 77 - 80
- . . . . 81¼- 81.½
Morgo.n'sL.&T.- lst . . 6 111 -115 116 -116 .... - ... . .... - .... 111 -111 110½ -111 112 -112 +102 -108¼ 107½-112
1st, 1918 .... ........... 7 .... - . . .. 130 -130 .... - .. . . .. - .... 125½-126 1111 120 119½-120
IUutualUn . T.·-S.F .. 6101 -101 102 -102¼ ... - .... 102½-103½100 -100 101 -102¾102 -103_½103.½-10± 10± -105 102 -103½100 ·102
98 -102
Nashv.C.& St.L.-lst. ~ 182¾-133 132¾-133 132½-132¾ 132¼-133 132¼-133 131½-132½ 128 -128½ ... - .... 12 .½·128¾ e ¾-129½ 127 -129¾ 125 -128
2d, 1901 ....... ....... . . 6 ... . - .... 113 -113 113 -113 113 -113 113¼-113¼ . . .. - . . .. . . - . . . llOJ,(.,110½ .... - ........ - .... .. ·. - · · · · · · ·. - · · · ·
1
Consol. g., 1928 . ..... ~ 106¾-109 109 -109 108¼-110¼ 107½-107½ 107½-lll 108 -110¾ 108 -109½ 108½-109 108½-108½ 105 -106½ 100 -106¼ 106¼-106½1
N.Y. Central-Ext . ... .. :i 1037-(-104 104 -104 10± -lOH! 104 -104% 101¾-102 101½-102½ 102½-102% 102 -103 101¼-103 102½-103 100½-101¾ ll!0¾- 102
N.Y. C.& H,- lst,cp .. '7' 130 -130½ 130 -131¼ 131 -131½ 130½-131)4130¼-132 130¾-131 127¾-127½ 127 -128 126 -129 128 -129 128 -129 128½-129¼
lst,reg .......... ...... ')' .... - . ... 129½-130 129 -130 130 -130 129%-130¼ 129¾-130 127 -127¾ .... 126%-128 128 -128¼ 128 -128 127 - 128
Deb., 1884-1904 .. . ~ 111 -111¼ 111¾-112 110 -112 110:),(-112 112¼-113½ 112 -112¾ 111 -111
- . . .. 110 -110 .... - .... 107 -109 107 -108
Deb.1•ea-.,'89-1904 .:S 110 -110
- ... . 110 -110
. .. - . .. . .. .. - .... 103 -105
Harlem-1st, coup .... '7' .... - . ...
- .. .. 126½-127 126½-128 126 -126 126 -126 125 -125
- ... 125%-125% 126½-126½ 123 -123 121 -123
1st, reg ... .... ....... . ? 125½-127% 126%-127½ .... - .... ... : - .... 124-¾-126¼ . ... - .... 125¾-125¼ 125½-126 126 -126½ ... - ... . 120 -120 121 - 122
N.J.Junc, 1st, guar.4 .... - .
....
.... ....
...
.
- ... . 102½-104
... - ....... - ... . 102 -102
West Shore, guar .. 4 104¼-105 104¼-105½ 104¾-105½ 105 -105¾ 105 -106¼ 106 -106¾ 103.½-10±¾ 103 -104 103¾-104 102¼-104 100 -103¾ 99½-102¼
· Registered ....... ..... 4 104¼-105 105 -105½ 104~,t-105.½ 105¼-105¾ 105 -106 *104¾-06!,41103.½-104¾ 10-2¾-104.¼ 103%-104 102¾-103¼ 100¼-103¾ 97½-102
N. Y.C.hl~ St.L.-l8t .4 93½- 97 !J'> - 97 95 - 96¾ 91 - 95
93 - 91½ 93 - 95¼ 93¾- 9±¾ 92 - 9,1
93 - 94¼ .go¾- 92¼ 89 - 91¾ 88½- 90¼
Registered ............ 4 93¾- 9± .... - ........ - . .. 95 - 95
93½- !):l½ .. .. - . . . . ... - ........ - ... . .... - . .. . 87 - 87 .... - • • .. • •·· - • • • •
1
1
:.~½-
1
:~1~5.1t;:~?I::~;E : : , ._
113 11 11
-11'¼
;11;( _·_._*"':
11
;;;¼;;;,., ~
=']?? ?t: '.t r:~ :t ? ~:
N. Y. & No1•th.-lst, g.~ ....
. ... 112
_
.... 111 -111¾ 110 -110% 110 -110
2d, gold, 192?" .. ..... .. 4 ... - .. .. 52 - 56
52 - 57½ 57 - 58½ 58 - 63½ .... - •.•. 60 - 60
N.Y.On.&W.-lst,g .. 6112 -113½112¾-113¾110¾-lll¼lll -111½111 -112 112 -112½112¾-112¾111
Consol. 1st, 1939 .. . :; 97 - 98 96½- 97½ 90 - 97~-1 96%- 97¾ 98¾-101
07 - 98½ 97 - 98
97
N. Y. S.&W.-Refund .. /5 97¼- 99
97½- 99
97 - 97.!,~ 96½-100 100 -101 100%;-101¾ 96½- 99
97
,2d mo1·t., 193'7 . ... 4 ½ . . . .
73 - 74 .... - .. .. 73 - 73
77 - 79
78½- 78% 78 - 78
Mldl'd of N. J., lst . .. 6115 -116½ 116;,t-116,4116 -117 11!'! -114 111414-1151J.i lli¼-110½ 115½-116 115
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Federal Reserve Bank of St. Louis
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- .... 110 -110 .... - ... . · ·· · - ··· · · ··
- ........ - .... -. ··· - ... ±0 - 50
42
-112¾110¾-110:}slll¼-111)4110 -111 109
- 97% 95½- 97
94½- 96
90 - 94¾ 89
- 99
97 - 98½ 98½-100
99½-100
90
-115\!i
llc
-116
11~ -112' 110 -113
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- 45
-111
- 92¾
- 9~
110 -112
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R AI.L.RO.A.D BOlvlJ .
1890-C:ontinned.
uo n s.
Nol'f. & West.- Gen'l.ti
100 yr. mort., 1990.:i
New River-1st . . . . .. . 6
Adjust. mort., 1924. '7
Clinch Val., 1st& e q.~
No.Pac.- Gen.lst, I. fr•• ti
Gen.1st, I. tir ,, reg .. . 6
Gen., I. gr., 2d, 1 933 .6
::::.!:::,·::.·i~e:;.::
JANUARY FEDR'RY.
MARCH.
APRIL.
MAY.
JUNE.
JULY.
AUGUST. SEPT'DER. OCTOBER. Nov ' BER.
DEC' B ER.
- - - ---- -----1-----1---·-----,----11------- -- - Low.High Low.High Low.High Low.High Low.High Low.llilo\'h Low.High Low.High Low .High Low .High Low. High Low.High
- - --- - - · - - - - - - - ---- - - - - - - - - - - - - - - - - - - - - - - - - - - -
118:)-;{-120
120 -120
.... - ........ - .... 118½-119
118½-121 119 -120 119 -120 119 -121¾ 119½·119½ 117 -117 117½-117½
97¾- 09¾ *06½- 96¾ 96½- 06?.I 95¾- 97¼ 94 - 97
95 - 96½ 93 - 95
.... - ........ - ........ - .... 114 -lU 110½-111 .... - .... 111¾-112½
- ... 107¾-107¾ . . . .
97½-100
99 -100½ 09 -100
99%- 99% .... - ........ 93 - 95
94 - 98
116½-118 117½-119 *115-116¼ 115¾-115¼ 115½-116¾ 116 -116¾ 113¼-115 114 -115¾
116*117½ 118 -118 115 -115½ 115 -115 .... - .... 115 -116 113½-113 112 -114
111¼-lH 112¾--113½ 113¾-115 114 -116 113 -114 111 -112 107 -111¾ 108%-115
. . . . - . . . . 95¾- 96 95¾- 96¾ 96¼ -97½ 97 - 98
.... - .... 117½-117½ 117 -117 113½-115 116 -117
.
. ..... . . - ....... 98 -100
99½-102
99½-101 100¾-100½
113¾-114½ 114¼-115¾ lHl}.i-115% 115½-116½
112 -114¼ 114¾-115¼ 114¾-115½ 115 -116½
112% ·113% 113½-114½ 112 -113¾ '. U0¾-111¾
io9¾=1ii ..
~~!½=~~~½ ~>2=~~~½,1io!}.!=1ii¾ iizM=li3½ io9½=1i0½ io9¾=1ii .. iii·,.!=lli¾ i09
=1io½ ioo -110
106 -109<¼ 103½-105%
Consol., 1989 .... .. .. . ~ .... - ........ - ....... . - ... . . . . . - ........ - . . . . 02½- 94
88 - 93
85 - 89¾ 77½- 87% 7'l - 82
Divi dend sc1•ip, Ext .... 103 -103 105 -108 .... - .... 107½ 107½ · · · · - .... 108 -108 107¼-107½ .... - . . .. 105 - 105 .. ..
St. Paul & No. P ac .. .ti 121½-121½ 118 -119½ 118 -118 121 -121½ 120 - 121% 122 -122½ 125 -125½ .... - .. .. 121 -121½ 121¼-122
,) tegistered..... . .. . .... . . . . - .... ll9½-119¼ 115½-115½ . . .. JamesR.Val., 1936.6 .. . . - ........ - ... 106¾-106¾ 104 -104½ .. . .
. ....... _ . ..... .
Hel.&RedMt. , l s t .. 6 .. . . - .... 99 -101 100%-104 101 -103½ 105 -105
... . 104 -104¼ . . .. - .. .. 106 - 106 101 ·101
Spokane& Pal. s. £.6 106 -106½ . .. . - •.. . 107~,i-107½ 103½-106½ .... - .... 108 -108
. . .. 109 -109 100 -109¼ . . .. - . . . 100 -100
Dul. & lllan., 1st ... . . 6 107 -108 106 -107½ .... - .... 101 -100¾ 108¾-110 110 -110 107¼-108 107½-107½ 107½-107½ 107½-107½ 105 -105 105 -105
Do. Dak. Div., l s t.6 105 -106 106 -106 107½-107¾ 108 -108½ 108½-108¾ 106 -106½ 107' -107 106%-107 108 -108 104 -108 102¼-102½ 90 -101
No. Pac.Ter.Co .• lst. 6 106 -107¾ 107 -100 1108 -109 110 -112¾ 112 -ll3 112 -112 109 -109½ 109½-111 108 -110 108 -108½ 106 -108½ 100 -108
Coeur de' Al.,Gn.lst.6 106 -107% 108 -108 . .. .
- .... . ... - ... . 108 -108 106 -106 106%-106% .... - •.. . 105 -106
1st. gold, 1916 ...... . . 6 .... - .. .. 108½-108½
N. P. & Mon., 1st, g .. 6 105 -107 t06¾-10$¼ .... - .... 1~110½ 110 -110¼ 109¼-110¼ *109 -109:½ 109 -110 106¾-.107¼ 104 -106
99 -104¾ 99 -102½
Cent. Wash., 1 s t, g ... ti .... - .... 106½-106½ 105 -105½ 105 -106 104½-lOfl½ .... O.ln.&W.-T.rec,lst.:S 82¼- 84 83 - Si½ 83 - 84
82 - Si
82:½- ru
83 - 85¾ ...• - .... .. . . 2d mort., 1938 .. . .... . ~ 53¾- 54¾ 54½- 55 "52½- 55
52½- 55
55 - 58
57 - 60½ .... - .. . ..... Ind. B. & W., lst,pf.7 ... - .. . . 117½-117½ 117½-117¾ 118½-118½ ... . - . ..... . - .... 115¼-115¼ .... - .. . 116 -117½ 117 -117 ...• f
Oh. & M.-Cons. s ! f .... 7 114%-114% 114%-115½ 115¼-115:½ 115¼-116 116 -116¼ 116½-117 113:½-113¾ 113½-114 114½-114½ 114 -115 tll3 -114½ 113 -114%
Consol., 1898 . .. .. .. .. .7 115 -115 114*115 114%-115¾ 115 -115¾ 115¼-116 116 -117 113¾-113¾ 114 -114 114½-114½ 114 -114 . · .. - .... 113 -114½
2d, consol., 1911 .. ... 7 122½-123 122 -122 122½-125 121.½-122 122 -124 122¾-123½ 123 -123 123½-123½ .... - .. . . 118 -118 . . . . - •. . . 119:J,;{-119¾
1st, Sprlna-f. Div .. .... 7 111 -112 . ... - •.... . .. - •.. 115 -116¼ 11:3 -113
- .... 114 -114 115 -115 .-.. .
Ohio River RR.-lst . .:S .. . . - ••...... - ... . 100 -101
- ••.. 100 -100 .. . . - .. . . 100 -100 100 -100 . .. • - .. ..
General, 1937 . . . . ... . :; .. .. - .... 92½- 92½ . . . .
- ........ - . . . . 91 - 91½ . ..
91 - 91
Ohio Southern-1st . .. . ti 108 -109% 108 -108 109½--110 109 -109½ 109 -111¾ 106½-107½ 107 -108 107 -107 104 -106½ 104 -105 100 - 104½ *101 -102
2d, Income. . . . . . ... .. . 6 55 - 55
52 - 54
45 - 5<•¾ 49 - 55
56 - 61
Gen., gold. 1 pt. .... 4 . . . . - . . . . ... - . . . . 63 - 63
59 - 64
62 - 68
66½- 67½ 66¾- 67¾ 63¾- 66½ 60 - 66¼ 64 - 66
40 - 63
49½- 55
Omaha & St. :r,.- lst . .4 73½- 75½ 75¾- 76½ 76 - 76½ 76¼- 77
76¼- 77½ 77½- 80
78 - 79:½ 71 - 75
71¾- 72
71 - 72
- . .•. . . . . O.-. R'Y• & Nav.-lst . . . 6 ll0½-ll3 109 -112 109½-110½ 109*110 110½-110¾ 110:½-lll¾ 109 -110 109¼-110½ 109½-110½ 108 -109½ 107 - 109¼ 106 -110
Consol., 192:i .. . . . .. .. .', 102)4-103;( 103¾-104 103 -103%;101¾-103¾ 103½-104 101 -101¾ 100¼-101¾ 100¼--100~.! 99 -100
98 - 99
94¾- 98
92¼- 92¼
Oreg. Imp. Co.-lst .. . . 6 101½-104 103 -103% 103 -104¼ 104 -105 105 -106 *102¾-104 102¾-104 103 -103¾ 102¼-104 102¾-104
79 -102¼ 79 - 90
Consol., gold, 1930 .. ~ .. . . - .. . ... . . - . .. . .. . - . . . . 92½- 93¾ 93½- 94% 94½- 94:½ ... . - . .. . .... - . .. . 93 - 94
90½ - 90½ • •· . - • ... . . . . 1
Orea-on Trans.-lst . . .. 6 10.'.l¾-106 105 -106¾ 106 -107¾ 107 -107¾ 104%-105¾ 105¾-106 105¾-106½ 106¾-106:½ 106¼-107¼ 107¾-107½ •· ·· - .. • . 106 -106
Penn. Co.-lst, cp ..... 4 :½ 108!!(-109¼ 109 -109½ 109%-110)4i109½-110¾ 109 -110 109 -109¾ 107 -107 107 -107¾ 106 -107 105½-107¾ 105 -107 105¾-107¾
Rea-il!lte1·ed . . . .... . . 4 ½ 106!)4-107 .... - . .. . 110¼-110¼ .... - ........ - .... 100 -110 106¾-106¾ .... - .. . . 106 -106½ 106¾-107 107 -107 104 -105
Pltts.C .& St.L.-l s t 7' 109 -109 . . . . - ...... . - ........ - ....... - . . ...... - ........ - .. . ..... - .. .. .• •. - .. .. . . .. _ ....... .
Pitts.Ft.W.&C.-ls t. 7 143 -145 144¾-144¾ 143¼-144¾ 145 -145 .... - .... 145¼-145¼ 142¼-142¾ 142_½-142½ 143 -143 143½-143¾ . . . .
2d., 1912.. . ... . . .
7 141 -142 142 -143½ 138¼-138¼ 143¾-14:3¼ . ... - .. . . 144¼-144¼ .... - •.. . 141¼-141¾ 141¾-143 143 -143 143 -143 132 -132
3d., .1912 ....... ...... 7' . ... - ........ - ..... . .. - .... 1••• • - • •• • 138 -141 .... - ........ - ... . •. . . - .. . . 135½-135½ . . . .
132 -133½ 134 -134
Clev.& P.- Cons.s.fd.1 126 -126 .... - .... 128½-128½ 128½-128½ 125½-125½ 126½-126½ 126½-127 . ... - . .. . 127 -127 127 -127 124 - 127½ 120 - 123
4th, 1892 .. .... ... .... 6 103 -103¼ 103½-103:½ 10-! -104¼ . . . . - . . . 104¼-104:½ 104¾-105 102 -102 101¾-102 . . . . 102 ·102 103 -103
St.L.V.& T. H.- tst .1 115 -116
. . . - •... 113:½-114 113½-115½ 115½-116½ .... - .... 112*112% .... - ..... . •. - .... 112¾-112% 110½-112¼ 112½-112¼
St.L.V.&T. H.,2d, ' 9 S ll0½-110½ •.. - •.. . .... - ........ - ... . 109 -109 ... , ' - ........ - ........ ..• .
2d, guar., 1898 ..... 7' .... - ........ - .. . ..... - ....... - ... . 109 -109 .... - ........ - .... 110 -110 . . . .
Peoples'G&· C. ,Cbi.2 d 6 97½- 97½ 86 - 86¼ . . . - •....... - ........ - . ... 97 - 97½ 97 - 97 .... - ......••
Peo. Dec.&Evan.- l s t.ti 101 -103½ .... - . ... 104 -104 105 -109 106 -106 106¼-107¼ 103½-103½ .... - .... . ... - .... 103 -104 102 -102 .... 57¾- 61
2d, 1926 . .. . . ... . . . . ... :; 69 - 72¾ 69½- 70 66 - 72
70 - 73
72¾ - 74
69½- 70
- .... 67¾- 69¼ 68 - 68½ 67 - 69
60 - 66
95 - 05
Evansv. Div., 1st ... .. ti 101½-103 105 -106 100 -102 102 -105 104 -105 104 -106 105 -105 101 -101¾ 100 -100 100 -100
73¾79
72 - 76
Peoria& Eas.,l s tcon,4 .... - . . . . 82½ 85
82½- 83% 78½- 82
79 - 81¼ 78 - so
18 - 22½ 17. - 18
Income, 1990 . . ....... 4 . . . . 33 - 34½ 30 - 32¾ 28 - 31½ 22 - 27
22.½- 25
Peoria&Pek.Un.-l st. 6 115 -115 .... - .... 113¼-113½ •··· - ........ - .... . .. .
- ... . 110¾-110¾ 112 - 112
2d mo1't., 1921. ... .4 ¾ . .. . 66 - 61:l
67 - 67
71 - 71
70 - 70 .. ., - ....
70 - 70
70 - 70
Phila. & Read.-Gen. 4- 85 - 87 84¾- 86¾ 80½- 85 1 84 - 85¼ 84¼- 85¾ 8±¾- 86½ *83 - 83% 80 - 83 79¾- 82½ 80½- 82¼ 75 - 82 75½- 80¾
50 - 58
1st p1·ef. Inc., 19:S8 . .:S 68 - 80½ 65 - 70¾ 62 - 67¾ 66 - 71½ 11 - 75¾ 72 - '14¾ 72¾- 74
69¼- 72% 66½- 70
62 - 67¾ 52½- 63
29¾- 37½
~d pref. inc., 19:S8 . ...:; 48 - 54¾ 46 - 50¾ 43½- 48¼ 47¼- 53¾ 527,i- 58½ 55½- 58½ 55:½- 58½ 51¼- 55:½ 47 - 52
42 - 47¼ 36 - 44
3d p1•ef. inc., 19:SS . ... :; 40½- 49
38 - 43½ 36¼- 40
38%- 43
42½- 47½ 42:½- 47
43½- 46¾ JO¾- 43¾ 37 - 41½ 33¾- 37:½ 27½- 34¼ 23 - 28%
3d pref". inc. , conv .... :; .... - .... 41½- 46
45 - 46
45 - 48½ 46¼- 46¼ .... 45 - 45 . ... Def"erl'ed income ... . .. 6 12½- 12½ . . . •
16 - 16 . . . . Pitts.Cl.& Tol.-l s t ... 6 . ... - . . . . ....
. .. 107 -107 ....
Pitts.Junc.-l s t,192~.ti •··· - . ... ....
- .. 118 -118 · ·· • Pltts.Pain.&F.- l st g.:i 98 - 98 . .. .
98 - 98
98 - 08
95 - 97:½ 97 - ?7½ . ... - .... 96½- 96¼ 97½- 97½ 95 - 95
Plttsb. & West.-lst . . 4- 80¾- 82¼ 80 - 81 81 - 82 80¼- 82
81¼- 83
81½- 83
79¾- 81
78½- 80
78½- 79½ 77½- 79¾ 74¼- 78
72 - 75¼
Pres. & A1·. c.-l s t. g.ti 90 - 90
.. . . .. .. - . . . .
2d, inc ........... . . . .. . .. 6 45 - 50 40½- 41 40 - 40½ 41 - 41
41 - 41
41 - 41
- .. . ..... - •... 36½- 37
37%- 37% ... . R.& All.-lst,"Drex. r. 7 68½- 70
60¼- 70½ 69¼- 70
- ........ 2d mort. Drexel 1·ec . 6 38 - 40
37 - 39¾ 37 - 38¼ 38 - 39:½ · • • • - .... .... Rich. & Danv.--Cons . . 6 115½-117 116 -117 116 -117¾ 116½-117¾ 117 -118 117¼-118¼ 115;}.!-116¾ 116 -li6½ 116)4 116¾ 115)4-117 117 - 117 112 -115
Debentu1·e ... .. . . ... . . 6 99)4-101% 102½-103 103 -105¼ 102 -104 101 -104 105 -105 104,4-105 104¾-104¼ 105½-105:½ 102 -102½ 100 -102½ 99 -100
Con. M. , tiold, 1936 .fi 88¾- 90½ 90 - 91¼ 90 - 90¾ 87½- 89¾ 90 - 91¾ 90¾- 9J
0~½- 93¾ 90¾- 92
91 - 91¾ 85 - 90
83
=
Equip. s. f., 19 11 9 .... . :S 88 - 89¾ 80 - 89¾ .... - .... 90¾- 90¾ .... - .... . . . . - ... . 85 - 85
- .... ..... A.ti. & Ch., inc., 190 11108 -108 107 -107 .... - ........ - ••• ···· - · ·· · 105¼-105¼ .... - ........ - .....•.. - . . . 103 -103
1st, 1897' ..... .. . . . ,- 107 -107 . . .• - . ... 108 -10
.... - . ... 103¼-103½ .... - ........ - .. . . . . . . - . . . . . . . _
Rich.& W e st Pt. T e r .6 100 -103
99¼-100
98½- 99¼ 99 -100¼ 100¼-101½ 100¾-101~ 101½-101¾ 98 - 99
97 - 98
95¾- 97¾ 91 - 97¾ 93½- 97
Con., 1st, col. t. g .. . . . :; 78 - 81
80 - 81¼ 77 - 80
78¾- 81½ 79 - 83
77¾- 79
77 - 78¼ 76½- 78¼ 72 - 75½ 68 - 73¾ 59¾- 71¾ 61 - 69¾
Rio G.W.- lst, 1939..4 71¾- 73
71 - 72¾ 697,i- 72% 71¾- 75½ 74¾- 78
76:½- 78 *74¼- 75¼ 74 - 75¾ 71½- 7;;
72 - 74½ 68 - 73¾ ~ - 76½
D.&R.G. W.,lst,t .rec 98 - 98
........ - ........ Rome w. & Og.-1 st . .. 1 104 -104 105 -106 105 -106 106 -107 •. •. - .... 103 -103 103%-103% 103½ ·103½ 103 -104 104 - 104 103 -103 100 -106
Con., 1st, extended ... .Ii 110 -110½ 110½-112 111¼-112¾ 107¾-110 108 -110 108¼-109½ 109 -110 110 - 110½ 110 -111 *107 -108:½ 105 -107¾ . ... - . ...
St. Jos.&G'd Isl.-tst.6 104!!(-105¾ 105 -105½ 105 -106¼ 106%-107¾ 105½-107 106 -107 .... - .... 107 -107¾ 104 -104 103 -106½ 100 -101 97½- 98
2d, income .. . . ... . ... .. . :, .. .. - . . . . 37 - 37 .... - . . . . 40 - 43¾ J3 - 50 48 - 52½ .... .... .... _ ....
Kan. C. & Om., 1st .. :; 85 - 85
81 - 86:½ 80 - 82¼ 82 - 85½ 8,! - 94¾ 86 - 89
86 - 88
84 - 85 . . . . - • . . . 82½- 82¼ .. St. L. Alt.& T.H.-lst . 7 110½-110½ 111 -111 111 -112 111%-112 .... - .. . . 113 -113
- .... . . .. - . .. . 111½-112
2d, pref .... .... . .. .. .... .7 111 -111 108 -108¾ 108 -109 109 -109 105:½-108½ 108 -108 108½·109½ 106½·107½ 106½-107 106½-107 105¼-107 106½ 106½
2d, income .. . .. . . . ... ... 7 . . . .
- .... 106 -106 107 -107¼ l0J½--106 106 -106¾ .... - .... 106 -106
- . ... 106½-106½ 100 -100 100½-105
Dividend bond8 .. . .... 6 50 - 58½ 55 - 57
55 - 55
54 - 58½ 58 - 62½ 60 - 60
50 - 50¾ 52 - 53
50 -_ 5.2. .. . ..
51. _- 5.2. . . 1 48 - 51
102 -102
Ch. S t. L.& Pad.,ll't.:S . ... - . . . . 99 - 99 101 -101 101¾-101¾ . .. .
Belle. & So. Ill.- l s t .8 117 -117 . ... - .... 116 -116 115 -115
- .... 113 -113 113 -113
1
Bell.&Carond.-1st .6 .... St. L. !So., 1st, 1rua1·.. 4 81½- 82
83 - 85 .. .. - .. ·.·. ·.1.·.·.·. - .... 84 - 84 ... . 82 - 82
81½ - 81½ 95 -100
~d income, 19 3 1 .. .. . :; ... . - ........ 50 - 50 .... @t.L.Ark.&Tex.-lst.6 90½- 90¼
87¾- 88¼ 87¾- 87½ ... . - .. ... . .• May, 1889, coup. off 88* 81 86¾- 89½ 86½- 88¼ 87¼- 91
94 - 95½ . .. . - . . . . ... - . .. . . .. - ... . ... . - .. .... . - . .. .. . . . Trust receipts. ...... . . . . . . - . . . . . . . . - . . . . 86.½- 88
90%- 98¾ ~1* 94¾ 90¾- 92
87¾- 90½ 86½- 89¼ 86½- 88¼ *75 - 85¾ 70 - 7~
2d, 1936 .. . . ..... .. .. . 6 24½- 29 24½- 26½ 23¼- 25¼ 22¼- 25½ 2i½- 24½ .... - .... ..• - ..... ... - ... .. . . . - .. .. .. .. - •.. .... .
A,!i assesments paid . . . . . - . . ..
,.,_
- ... . 20 - 32¼ 29 - 31
28 - 28½ 27 - 28
25½-- 27¾ 22 - 25
18 - 22
18 - 19¼
• Ex-inter est.
t Under the r ule; C&sh.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1
~~i.~
I·... - ...
-
RAILROAD BONDS.
1890-C:oncluded.
JANUARY FEBR'RY.
BONDS.
MARCH.
APRIL.
MAY.
JUNE.
I
JULY.
AUGUST. SEPT'BER. OCTOBEH..
NOV 'BER.
DEC'llE R.
~ ~ ~ L o w . H igh Low. Hhrb Low.High Lo~.High Low.Il1gh L ow.High Low.High Low.High Low.High ~ow.Rig~
St. L.& Iron Mt.-lst . . ,- 106 -108 104 -104½ 104%--104¾ 104%--105 10-i¼-105 105 -105i)f105¼-106¼ 102 -103 102 -103¼ 103¾-103¾ 102 -103¾ 102%-10-;¾
2d, 1897 ...... .. ... .'.. 1 108¾-109 _109 -109¾ 107 -109¼ 108¾-109¾,106 -107½ 108 -109 ..... - .... 107 -108 107¼-108 107½-109¾ 10-i -105¼ 103¼-105
Arkansas Branch .. .. ,- 107¼-107¼ 10Tk107¼ 107%-107% 108¾-108½ 108%-108¼ 105),~-106 106¼-106% 106¼-106¾
108¾-10 ¾ 104 -107 104 -104
Cairo &Fulton-lst.. 7 100¼-101¼ 100¾-101¾ 101 -101¾1101 -101% 102¾-103 102¾-103¾ 100 -100¾ 100~-101 100½-101¾ 101¼-102 101 -102¾ 101¾-102
Cairo Ark. & Texas.') 102%-105 10!¼-104'% 105 -105½ 105 -105½ 105½-107 104 104'¾ 105 -107 106 -107 105 -105 105¾-107¾ 105¾-107¾ 1.02¼-104 •
Gen. consol. & I. g ... . .5 88 - 90% 1. 00 - 91¾ 91 - 92¾ 88 - 90
90)4- 95¼ 93 - 95¼ 94¾- 95¼ 93 - 95
03 - 04% *91 - 92¼ -t-84%-- 91¼ 87 - 92
!St.L. &S. F.-2d, cl.A .ti 112½-113 112¾-112¾ 112½-113 1113½-114¾ 115 -115 114½-114½ .... - .. ...... - ........ - .... 112 -112¼ 110 -110 no -111
c'lass B ........... ...... . 6 112½-113¾ 112½-113¾ 112½-113 j114 -115 112 -114½ 114½-114¾ 113¾-114 111 -112 111¾-111¾ 11:3 -113 110 -110¾ 110 -111
Class C .. ................ . 6 112½-113 112½-112¾ 112%-113 l113¾-114¾ 112 -113 lU -114½ 114 -114 111¾-111¾ 111 -112 112 -113 +106 -110¼ 108 -111¾
Equipment ............. 7 .... - ........ - .... 101½-101½101½-101½101½-101½102¼-102)1i102½-102½102 -102 .. - . .. . 101½-101/4 -· · - .... .. .. - ... .
Genera.I mort .... . ..... 6 109¾-112 100;4-110 109%-110 110¾-112 112 -113 115 -115 111 -111¾ 110½-110½ 110 -111 110¼-111 105 -111¼ 106 -108¾
Gene1·al mort . ...... .. . /) ... - . .. 97 - 97½ .... - . .. . 98 -100 102¾-1 '12¾ .... - ..... ... - . .. ..... - .... .... - .. .. 98 - 90½ 95 - 95
95)4- 96 ·
1st, Trust, 1987 ...... /) .. .. - ..... . .. ...... - ........ - .. . . 86 - 89 .... - ....... . - ........ - ........ - . . . . 88½- BB¼ .... - . . • . ... - ... .
K. C.&So. W.,lst, '16 .... - .... D3 - D3 .... - ........ - ....... . - ... . .. .. - ....... . - .... . .. - ... .. ... - ........ - . ... ... - ........ - . . . •
Ft.S.&V.R.B.,lst .'10••·· - .. . . .... - . . ... .. - . ....... - .... 105 -105 .... - .... .... - .... .... - ........ - ........ - ........ - .. .... .. - ... .
St. Paul & D.-lst. . . . ,> ..•. - •.•. 108¼-109 .... - ........ - ........ - ... ..... - ........ - ..... . .. - .. . . .... - . . .. .... - ... . ... - .. . . .. - . .. .
2d, 1917 . ..... .... ...... .> 103¼-103¾ 10-i¾-105 105 -105½ 103 103 104¾-106 105 -105½ .... - ........ - ... . 10-i -105 102½-104 102 -102½ .... - .. .•
~t.P.M.&M-lst1909.1113 -113 lll½-lll¾ .lll½i-111½ 111¾-111½ 116¾-117 117 -117
... - ........ - ....... - ........ - ... . ... . - ••.... . - .. ..
2d mortg., 1909 ...... 6119 -119½ 119½-119½ 120½-120½ 117 -117¼ 117½-117½ 118 -118 .... - ... ,118 -118 .. . . - ... 115 -115 .... - ..•. ... - ... .
Dakota Extension .... 6 118½-118½ 117'7Ai·118 110½-120 120 -120 118 -118 118 -119 119 -120 118 -119 118 -118 118 -118 115¾-117 114 -116
1st, consol., coup .. .. . 6 116¾-120 116 -120 116¾-117½ 118 -118½ 118 -118¾ 118 -120 118 -119¾ 119)4-119¼ ·.16 -1 ..7 116¾-117¼ 115 -116 116 -116
Reduced to ......... 4½ 101¾-101¾ 100 -102¼ 101 101½ 101½-101¾ 101¾-102 102¼·102½ 100}.t'.-100¾ 100%--100¾ .. . . - . . . .
101:)4-101¾ 100 -100
Montana Ext .• 1st ... 4 .... - .. . . 88%-- 89½ 88 - BB½ . . . - . . . . 89½- 91¼ *80 - 92
90 - 91)4 90 - 91
89 - 90
88 - BB½ 87 - 88 .... - ... .
Montana Cent., 1st. 6 112 -114 114½-115 .... - . .. . 116 -116 115 -115½ 118 -118 116 -116 117½-117½ 116 -116 116 -116 .... - ........ - ... .
1
8an A. & Ar.P.,1916 .. 6 . 85 - 85
87 - 87¾
- .... 86 - 86¾ 87 - 87~i' 86½- BB¾ 71¾- 75
70 - 72¾ 70¾- 75
70¾- 71
65 - 68
57¼- 63
1926 ...... . ... ..... ..... . 6 85~.!- 87½ 87 - 89
86 - 87
86 - 88
87¼- BB½' 87¾- 90
70 - 77½ 69%- 72
70¾- 75
69 - 70¾ 65 - 68
59 - 62
8 F.&N.P. lst,1919 .. 1>
- ........ - ...
- ... . .. - ....... - .... 98 - 98 .... - . . ..... - ........ - ....
- .. .... - ... .. ... - .. . .
8. V. & .N .E,,lst,1989.4 1.... - ..... ... - ... .
- ........ 82 - 81¼ 83 - 83
80 - 82½ 79 - 80 .... 79 - 79
73¾- 77
69½- 73
~~~.
~~~
~~~½=1~ ~~.~
~~¼=1~~~ ~~~.½=1~~
S~een~:.r:-:t;;0s:~::~:~~::[1!~¾=1!~¼
=1~~ ..
=1~~.
..
=1~~
:::: = :::: :::: = :: ::
Trust receipts ... .. . ... 6 48 - 50½ 50¾- 53
52 - 55 5 3¾- 67
57½!- 60 1 57 - 60¼ 55 - 57¾ 55 - 59
56 - 59
I'.~~~. -... .. -.....~~6~-~~~
... -.. ..
=1~~ ... :: . = ::::
sifiif:.~;r~i: :·~ ;~:: :; ;; ; ;;:; :; ~ ::i¼;,;~I.~~,;~';.~ ;,.:~ :::~,~;~ ;;:.;i'.; ;.: ;.:~ ;'.': '.;_ :.;~
Incomes . ..... ... ..... .. 6 7½- 9
8 - 8 I 8 - 9
9 - 11
10 - 12 1 11 - 12¾ 11¾- 12
11½- 12
13 - 14
12¾- 14¾
12 - 13
So. Pac,, Cal-1st ....... 6 107 -107 115 -115 115 -115 112 -112 .... - . ... 114 -114¾ 115 -116
- .. . . 115 -115½ 112%-114 112 -112½
1st consol., 1938 ... . .> 101¾-102¾•102 -102% 102¾-103¾ 100¾-100¾ 100%-101¾ 100½-102 101¾-102% 100%-102¾ 101½-102 *100 -100¾ 100¾-100% 100¼ -100½
So. Pac., Al"iz,, 1st .... 6 ..... - ... 1· . . . - ... I . - .. . 107 -107¼ 107¾-107% 108 -108 105 -105¾ 106 -106 106 -106¾ 106 -106½ 105¾-106¾ 104)4-105¼
So. Pac., N. lUex.-lst.6 107 -107½ 107¼-107¼ lO'i)g-107% . ... - ... . 107¾-107'1Ai 107%-109 105¼-106 106)1i-106¼ 106¼-106% 106)4-106% 106 -106½ 104¾-106¾
Tenn.C.& I.-Tenn, D.6 97 -104~.flOl½-104½ 99 -101¾ 96,v- 98
97 - 98
96¾ · 98¾ 96¼- 98¾ 96 - 98
97 - 98
88 - 93
87 - 92
80 - 86
Bil·. Div., ht . . . .... . . 6 98¾-103Ji 99 -103
99½-100
99 -100¼ 100%-103 101 -102½ 98½-100
95½- 98
97 - 99½ 90 - 97½ 90 - 96% 86½- 93¼
Tex. Cent.-lst, 1911.7 .... - . . . . 51 - 51 .... - . . .. 45 - 46½ 50 - 50 .... - ........ - ... . ... . - . . . .
- ........ - ....... . - •....... - ... .
T.&N.O.,Sab.Div.,1st6 .... - .... 106 -llt6 103½-.t03½ 105 -106 .... - .... ... - .... 107 -107 109 -109¼ 104¾-lM¾ .. . . - .... 102 -102 ... . - ... .
Tex.&Pac.-E.D,-lst.6 .... - ... ... . - ........ - ... .... - ........ - ... ..... - ........ - . ... 109¼-109¾ .... - .. .. 107 -107 102 -102 102¾-105
1st, gold, 2000 .. .. . .. . 5 90%- 92½ 91 - 92% 91 - 92¾ 91¾- 94
93¾- 96¾ 91¾- 93
02 - 93
91 - 92
89¾- 02¾ 90 - 91¾ 86 - 02
82¾- 86¾
2d, g,, inc., 2000 .. ... I) 38¾- 40¾ 37¾- 40¾ 37¾- 39½ 37½- 40¼ 39%- 45½ 41 - 44¼ 40¾- 42¼ 38¾- 40½ 38 - 42½ 35%- 40¾ 30¾- 37¾ x26 - 32¾
Thh·d A venue (N. Y .) 1,
1st, 1937 . .. .... ... ..... . I) .... - .... .... - .... 112 -112¾ .... - .... 114 -114 113 -113
.. - ........ - .... 111 -112 . . .. - ... . .... - ... . 115 -115
Toi, A. A. & C., 1917 .6 10-i½-106 105¼-106½ 103½-103;-_ 103½-105¾ 1MJ4-105½ 105 -105¾ 105 -105¾ lOJ¼-100 103 -103 102½-103¾ +80 - 92½ 80 - fil¾
Tol,A.A,&N,M.,l s t.6 105 -107½106½-106¾106 -106)4106 -107½102 -103¾103¾-104)4 103 -lM½lO-i -10-i½lO-i -104¾102 -104
95 - 99¼ 81 - 93
Toi.A.A,& G,T.-l st .. 6 107 -110½ 108¼-110 112 -112 110)1i-110½i 110½-110½ 110 -111 108¾-108¾ 106 -109 1107½-109 107¼-108
9 - 98
95 - 99½
1
Toi.& Ohio Cent.-lst.1> 102 -103)4102¾-103½ 103 -103% 103½-10-i lW -106 106 -108 108 -108¾
ilOJ -105 103 -106 102 -10-i 102 -105
T.P.&W.-lst, 1911 .. 4 76 - 76)4176½- 77
77 - 78
77¾- 78¾ 78½- 80¾ 80 - 80¾ 78 - 79
78 - 78
78 - 78½ 777,,{r 78½ 77½- 77½ 76 - 77
Tol.St.L,&K.C.-lst,6 911 -101
98 -101
99 -100
98 - 90½ 99 -100
07½- 99
99 - 99¾ 98 - D9¾ U5 - 08½ 93 - 95¾ 91 - 95
83 - 93
Union Pac.-lst, 1896.6111 -111~ 111¾-112¼ 112¼-113¾ 111%-113 - lll½-112¼ 112¼-113¾ 1091}.!-110¼ 110 - 110½ 110%-110% 111 -112 110¾-111¾ lll½i-112
1
1st, 1897 ............... 6 112' -112½ 113 -113¾ 114 -114 113 -113¼ 113¾-114¾ 113¾-113% '111¾-lll½ 111¾-112 ,112)1i-112¼ 112%-112¾ 112 -113 113 -113
1st, 1898 ............... 6 113 -116¾ 114¾-115¾ 115%-116¾ 1U%--115% 114%-115¼ 115J4-115¾;1*112%-13.½i 113¼-113¾ '113¾-114 114 -116 111,4-114% 114¾-ll4¼
1st, 1899 ... ....... .. . . 6 116 -116 i116)4-116¾ 116¾-118½ 116¼-118¼ 116,4-117¼ lll:i½-116¾ 114¾-115 114%-116 1114%--115¼ .... .. 114!,<,i-114½ .... - ... .
8ink.ina- tund ...... .... . 8 115¼-116¾ 116¼-116½ 112¼-112¼ 112%-113 112¾-113 113 -113 113)1i-114¾ 114 -114½ 1110 -110¾ 110 -110¾ 108 -108 108 -108
Registered .... . ..... .8 115½-115¾ 116¼-116¼ 112 -112
.... - . . .. . .. - .... 113¾-113½ 110 -110¼
108 -108 108 -108¼
1
~:::::::.:: ::::~:::: ::
~~¾=l~~ .. ~~?=l~~~
99 -102
:::: = ::::
ioo
=100·· :::: = :::: 1 :::: = :::: .99½=
99¼ ::::
= : :: .
= ::::
Collateral Trust .. .. 4-½ 89 - 90
89 - 80½ 87¾- 87½ 86 - 86
84 - 86½ 85 - 85 . . . . - . .. . fil - 85¾ . .. . - ... • 77¼- 84 t 74 - 79
66 - 72
Kan.Pac.-lst, 1S9.>.6 111¾-112
- .... 110~-111¼
- .... 110½-110½ 110¾-lll),ii,111¾-112¾ 111¾-111¾ • • .. - .. • . .. . - . . . . . .. - ... . 110 -111
1st, 1896 .... ........ . 6 110 -111 111¾-111¾ 111¾-112¼. .... - ........ - .... 110 -110 110%--110¾ ..•• - . .. .. . . - .... 112 -112¼ 112 -112¼ .... K, P,, Deny, Div•.. -6 113 -113¼ . . .. - .... 115¾-117¾ .. . - . ....... - .. .. 113 -113¾ 114 -114¼ 114 -115¾ 114¼-114¼ 114¾-114¾ 111¾-111½ 111 ·-111
1st, consol ...... .. ... . 6 114%-116 116 -117 116½-118 116¼-117¾ 113¾-114% 113¼-116¾ 115 -116 . . ..
114 -115¾ 114%-116¼ 109 -112 107 -109
Cent,B1·,U,P.,s.f.. '7 ... . - ........ - . ....... - .. .... . . - ..... ... - .... .... - ........ - .... 100 -100 ···· - ....... - · ·· .... At. Col. & l'ac.-Jst .. 6 96 - 98
95 - 96¾ 94 - 95
00 - 95
92½- 95¾ 95 - 99
95½- 96¾ 9-1½- 95
93 - 0.3.... 88
.. .½= 90½I 87 - 87½ 87, - 88
At,J.C.& West-lst.6 .... - .... 96 - 96 ....
92 - 92
OJ - 94
92½- 94
.... 1. ...
Oreg, Sh. Line-lst... 6 114 -116¼ 112½-113% 112¾-114 114 -114% 113 -114 114 -115¼ 114%-115¼ 111 -112:}.! 110¾-111¾ 110 -111 105 -108¾ 99 -10-i
Or.Sh.L.&U.S-,,con.l'> 97 - 98 93¼- 94¾ 93¾- 04¾ 92¾- 94
93½ -94½ 94 - 94½ 94 - 94½ 93 - !l4¼ 93 - 04 *88½- 91¾ 84 - 90
79 - 80½
ciollat, Tst., 1919,g .. ,> 96 - 96
- . . . . 96 - 96
95½- 05¾ • •· • - • • • • . • .. - .... • • •· - • • •· 79¾- 81
Utah South'n-Gen .. ,- 112 -114 116 -115 113 -114½ 113 -115 114 -114 115}.{-116 *112 -112 lll½-112½ lll½-111½ 110¼-110¾ 106 -106 105 -105
, Ext'n, 1st, 1909 ..... ,- 112½-113
- ... . 113 -113½ .... - . . 114 ,114 114¾-115¾ . _.. - .. . ..... - . . .. 109¼-111¾ 109¾-110¼ 105 -108½ 102 -103¾
U,Pac.Den.&G,Con.a .... - .... 1. ...
- .... 86¾- BB fil - 88 8l¾- 85¾ 77¾- 83½ 73½- 79
Un.Pnc.L.&Col.,lst.1> 101 -102 102 -102¾ 102 -102½ 100 -101
08½-100
09¼- 90½ 100 -100 .... - ........ U tah & orth'n-lst .. 7 115 -115
- .... . ... - ....... .
Va. Mid.-Gen,, 1936 .. 1) 86 - 87 85½- 87½ 85 - 87
86 ½ 86 - 86¾ 1 85 - 86
85 - 86
85 - 85
86 - 86¾ 85 - 87
81¾- 85
79 - 88
Gen., guar.stamped.,l 88 - BB½ 87¼- BB
7 - 871./2 87 - 00
88 - BB½ 86½- 88½ 87¾- BB
87½- 88
88 - 88
87 - 88
81 - 85¾ 80 - 83½
Valley Rr, of 0,-Cou.6 .... - .... 105½-107 103½-10-i j
- . . 104½-10!½ 104 -10-i¾ ·· ·· - •· • .... - .... · · ·· Wabash- 1st g, 1939.a 102 -103:)4 103¼-103¾ 103 -103¾ 103¾-105¾ 101%--103 101%-102% 101¾-102¾ 100 -102 100¼-102 101¼-102
94'¾- 90½ 93 - 9
2d mort,, goid, 1939 ..> 83¾- 86¼ 80¾- 82¾ 80¼- 81¼1 81 - 82¼ 82¾- 85
82¼- fil
81¼- S.'3½ 76½- 80¾ 75 - 78½ 74½- 77
68 - 'i4¼ 69 - 73
Deb, inc., 1939, s. B.6 50 - 53
4.8 - 52¾ 47 - 49
47¾- 53
52½- 57
50½- 53¾ 48 - 50¾ 45 - 50¾ 41 - 4.8¾ 35 - 43
29 - 34¾ 30 - 33
!St. L .K.C.&N.R'l e .1 lll½-112 112 -112¾ 110 -110 109½-110 109¾-110 lll¼-111¼ 110 -110 108)4-109% 106 -106 106½-106¾ 106 -106
No, lUo.-lst,189.>.7114 -114¾114½-115 115 -115¾116 -116 116 -116¾116%-116%112½-113 112 -ll2¼111 -111 ···· - ····109¾-109)4
St.C. B',:e, lst,1908.6 110 -110 110 - 110 .. .. ....
.. .. - .... · .. - · ··· · ··· - ··· · 101 -103¼ 101 -104¾ 105¾-107¾
W,N.Y. & Penn,-lst,5 02¼- 95
04¾- 05½ 04¾- 06½ 96 -101
D0¾-101 100¾-102¾ 99 - 99¾ 98¾- 99¾ 99 - 99¾ 98¾- 99¾ 98 - 99½ 98¾- 99
2d M,, g,, 1927 ... .3-~ 20 - 33
31 - 33¾ 31 - 32
31¾- 38
37¾- 40
37½ 38¾ 36%- 38
34¾- 35½ 33¾- 34.¾ 31¼- 33¼ 28 - 31¾ 27¾- 30
West. Un. Tel.-Coup .. 1 . ...
- .. .. 117){-117½ . ... - ... . . ... - .... 115 -115
- •··· 114 -114
Rogiste1·ed ............. 7 ....
- .... 117 -118 .... - .. . ..... - . ... 114¾ 114¾ 112 -112
..•.
.. ..
Collate1·al trust ..... :; .... - .... 100¾-102
09 -101)4100 -100¾ 100½-102¼ 101 -102½ 99¾·100¼ 99 -100¾ 98¾- 99¼ 98 - 99¾ 97 - 99½ 97¾-100
Wheel.&Lake E.-lst.5 105 -105½ 105 -105
- .... 102½-102½ 106 -106½ 106½-107
- .... 106½-107 108 - 108 108 -108½ 104 -106
Wheel, Div , 1st, g . . 5 . . . .
- .... 101 -101
98¾- 99½ 98 - 99¾ 93 - 08¾ 90 - 97½
Wis, Cent. Co., 1st, g .. a 961/s- 99
97½- 08'¼ 98 - 00½ 98¾-104.¼ 100 -101 100 -100¾ 98 - 98½ 99 -100
49¼- 52 14.3 - 60)4 30¾- 45¾ 90 - 97½ •
Income, 1931·... .. . ... 5 60¾- 69
55¾- 65
55¼- 61
57¾- 02
68 - 61½ 58 - 58
55 - 56¾ 51 - 56
00 - 90 .... 28¾- 34¾
Woodst'k Iron-lst .... 6 . . . . - . . . . . . . .
90½- 90½ •··· 1
* k•~-interasl.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1
t Under the rule; cash.
• ':!tamped a~sented.
•
76
-.RAILROAD
BONDS.
1891.
JANUARY FEBR'RY.
BONDS.
MARCH.
---
APRIL,
MAY.
JUNE.
I
JULY.
AUGUST.
SEPT'BER. OCTOBER, NOV'BER, DEO'Bl!lR,
---
---
Low. High Low.High Low.High Low.High Low.High Low.High ,Low.High Low.High Low.High Low.Hi1th Low.High Low.High
Ala. Mld.-lst, 1928.. 6 .... Am. Cot. Oil Co.-lst. 8
A.m. Wat. Works-lst.6 .... At\antic&Paciftc-1st.4 *72 Income ................... 6 12 Cent. Div., 192'.!, inc•..... Atch. Top. & S. Fe.Gen. mort., 1989 ... . .4 *78 Rea-il!ltei•ed... . . . . . . . . . . . . . Income, 1989 .... ..... :S 47½Bolti. &O.-lst, P.Br.6 .... Gold, 192~. coup .... . i; . . . . Registei·ed ............. . . . . Consol., gold, 1988 .. ~ .... B .& O.S. W .-1st, 1990 94½-
.... 87 - 90¼ .... - ...•.... - ....
. ... - ...•... - ....... - .... 76½- 76½ 82 - 82
81¾- 82
82 - 85%
........ - ....... . - . . . . . . .
9-i - 96
92¾- 95
94 - 95
91 - 99½ 98 -100
98¼-102½ *100 -105!)4 104½-108
....... - .. ...... .. .. - ........ - ....... - .... 105 -105
- . ... .. - ........ - ... . . .. .... - ..•.
75
14
71½- 74½ 71 - 73
11¼- 13
11 - 12
72 - 73
11¾- 14
70½- 72¾ 71.M- 72
11¼- 13¼ lO!J!- 12
........ - ....... - ....... - .... .... 80
76!)4- 79¾ 75 - 78½ 77%- 80½
77%- 77% 78 - 78¾
53
42¼- 49¾ 38¾- 44¾ 43¾- 50¾
.... 115½-115½, .. ,. - ....
.... 106 -107½ 106½-106¾ 103½-104½
69 - 70¾ 69¾- 74
9¼- 12¼ 11 - 15
73½- 74
14 - 16
.... - ........ - ....... - .... 10 - 10
78 - 80¾ 78¾- 79% *77¾- 79¾
. . . - . . .. . . . . - . . .. . . . . - . . . .
43%- 50¾ 44¾- 48½ 1 46¾- 49½
112 -112 .... - ....... - . ...
104 -105 102 -104 104 -105
77¼- 82.¼
. .. . - . .
48¼- 61½
... - .. : .
102 -105¾
72½- 73¾ 73 - 73½ 72'7k 76
13½- 14% 13¼- 14% 13¾- 14%
.... - ........ - ....... - ... .
80½- 82½ 81½- 84
. .. . - . . .. .. .. - • . ..
*58 - 66¾ 61¼- 65¾
.... - .... 115 -115
106 -106 105 -106
82¾- 83¾ 83½- 85½
. . . . - .. . . . . . . - ....
61½· 64¾ 63½- 66¼
.... - ........ - ... .
105½-107 106¾-10-i½
. . . . . . .. - .. . . . . . . . . . . . - . . . . . . . - . . . . . . . - . . . . . . .. - . . . . .. . . - . . . . . . . . - . . . . . . . . - .... 104 -104 105½-106½
........ - .... 109 -109 109½-109½ ... - . . . ... - . . . ·
106 -106 107 -107 109 -109 107 -107 109 -109
94½ . ... - ........ - ........ - . . . . 95½- 05½ .... - .. . . 97½- 97½ 96 - 97 100¼-101½ .... - ........ - .... 103½-105
. .. . 78¼- 79
:: :~:t !:~:::::::::::: :::: =:::: ::::
1
= :::: :::. - :::. :::: = :::: 1~ = 1~
: ::: = : : ::
·
...
-
...
.
.~~¾= ~~~
= :::: :::: = :::· ::::
= :::: .:: _ .... ::::
= ::::
Beech Creek.-lst, g .. 4 84 - 95
95 - 96
96 - 97½ 97½- 98½ .... - ... 97 - 97
96½· 96½ 95½· 96½ 96 - 96½ ... - .... 95¼- 97½ 96½- 98
Bost.H,T.&Wes.deb .:S 97½- 99%102½-102½100½-100½ 99%-100½ 99¾-100
99¾- 99¾; .. . . - .... 99¾-100
97¼- 97½ 98¾- 99
99¾· 99¾100½-100½
Bost. Un, Gas Tr. ctf..5 .... - ........ - ........ 88 - 88
89¾- 91¾
Buff. Roch. & Plusb,Genei•al . ....... ..... ... .:S 96½- 96½ 97 - 98¼ 95 - 95
96 - 96
95 - 95
95 - 95
95 - 06
94 - 94
92 - 94
Roch. & Pitts., 1st .. 6 112 -112¾ .... - ........ - .... 120 -120
- .... 116 -117 117 -117 114¼-114½
Consol., 1st .......... 6 111¾-112½ 114 -114 .... - .... 114 -lU 115 -115 *11½- 112 112 -112 114½·114½ 114 -114.¼ 115 -115½ 116 ··116½ 114 -115
Brooklyn Elevated1 st, 1924 ............... 6 109%-112¾ 111½-112 111 -112 108%-110½ 110 -110¾ 110 -112½ 110 -111½ 111 -112 112 -112½ 110½-111½ 110½-111 111 -113
86 -86
2d moi·t., 1915 ... . 3.5 85 - 85
88 -88
85 - 87
87 - 87
87 - 88
88 - 88
87 - 87 . ... - ... •1 84½- 86
Union El.-lst,193'1.6 106 -109½ J.09 -109½ 108 -109½ 109½-111 *107½-108 107 -107¼ 107½-108 107¾-110 109 -109½1110¼-112 *107¾- 109 109 -110¾
98 - 99
Bu1·.c.R.&No.-tst .. ii 93½- 98½ 96¾- 97¼ 06¼- 08
08)4-101 100½ 101½ *07¾-103
97¼- 98
95¼· 97
02½· 93% 03¼· 06
95 - 01
Cons. 1.st & col. ti· .... /i 85½- 85½ 87 - 87½ 87½- 87½ 83 - 85
89 - 91
00 - 91
90 - 90
90 - 95
85 - 85
85 - 85
85 - 85
85 - 85
- .... 90-90 .... Registered ............. .... - . . . . 96 - 96 .... I, c.& W .. lst,HJ09., .... - .... .. - ....... 90 -100
- .... 100 -100
C.R.J.F.&N.,lst ...... 6 .... - ........ - .. . .... 95 - 98
92 - 92 . ...
- .... 100 -100 102 -102
1st, 1921 .............. i> .... - ........ - ........ so - 80
- .... 84 - 84
Can. Soutb.-lst, gua1·. *105 -106½ 106 -107¼ 105¾-107 1()5½-107 104:}.!-106¾ 10,1 -106¼ *02½-104¼ 103 -105 103¾·106 105 -107¾ 106%·107¾ 106%-108%
2d moi•t . . ... . ..
. ... .. :S 95½- 98
97½-100
96½- 07½ 96 - 97
96 - 97
05½- 97
9fl¼- 07% 97 -100
- .... 97¼- 98¼ 97!).ji- 08½ 98½-101
Reaistei·ed ... .............. - ....... - ........ - . . .. 94 - 9!
97 - 97
97 - 97 .... Cent. O., reo1•1r,,lst ..4¼ 101½-101¾ .... - .... 100½·100½ ... . - .... 100 -101 .. . . - .... 101½-102 101½-102 101 -102 101 -102 101 -101 101 -101¼
Cent. RR. & B., Ga .. ii 95 - 95
95 - 05
06 - 96
08 - 08
94 - 94
02 - 02½ .... 85 - 85
- .. ,I,... - ...
Sav.&W.,1stcon.,g,5 82½- 85
85¼- 87
82¾- 84
82 - 83
82 - 82¾ 79%- 79% 78 - 80
78 - 79
76 - 76
74 - 74
74 - 75¾ 69½- 77¼
Cent. ot New Jersey1890 ......... ............ 7 115 -116 115 -116 117 -118 *115 -116 116 -116 116 -116¼ ... Consol., 1899 ......... '1121 -121¼ 122 -122 123 -123
115 -115 115 115½ 116 -116 . , . .
.. .. 116 -116 117½-118¼
Convertible, 1902 ... 1 .... - .. . . . . .. - ........ .... 119½ 119¼ .... - .. .
Conv. deb.,1908 ...... 6 .... - ........ - ....... - .. .. t20 -120
... .
Gen. M., 1987 .. ...... ~ *107 -109¾ l09½-110¼ 110¼-110¾ 110¼-lllr-1 109¼-111% 108-¾-110¼ *107 -108!4 108¼-109 109½-110½ 109 -110 109½-110 109¾-112
Registe1•ed .. ......... ~ 107½-110 109¾-110¾ 109 -110¾ 109 -110 107¾-100¼ 108 -108¾ 106¾·108!4 108¼-108¾ .. .. 108!4-109!1( 108 -109)4108 -109
Leh.&W.B.-Assent 7 112 -113 110 -112 110)4-112 110 -111¼ 110¾-112 108¾-110 108 -109 108 -111 108 -110 li>9 -110½ 1107-(-110½ 108¼-110
Mortgage, 1912 ... . ~ 99 - 99
97 - 97
95½- 97
96 - 98
96 - 99 . .. .
05 - 99
92 - 92
97 - 97
92¾· 94 .... Am. Dock & Imp ..... .:S 106 -108½ 106½-107½ 105¾-107 106½-107 107 -108 107¼-108½ *05½-107½ 107 -107 108 -108 108 -108½ 108¾-108¾ 108 -109¾
Central Pacific.Gold, 189/i ............ 6 .... _ ........ - .... 108 -108 107¼-107¾ 107½-107¼ .... - .... 105)4-106¾ 105 -106 106½-106½ 106½-106¾ .... - .... 107 -108
Gold, 1896 ......... .. 6 .... - .... 110 -110 109½-109½ 10 ~¼-110 L08¼-109 109¾-100¾ 106¾-106¾ 106¾--106½ 107 -107 107}:!-1077,-ti .... - .... 109½-109½
Gold, 1897 .. ......... .. 6 110)4-110¾ 110¼-111¼ 110½-111¼ 109½-111 109½-110¼ 110½-111 107½-108½ 107 -107¾ 107¾-108.¼ 108 -108¼ .... - .... 109½-109½
Gold, 1898 ...... ..... .. 6 112¾-112¾ 112¾-112½ 112 -112¾ lll¼-112 110½-111)4 111¾-112¼ 100 -109)4 107¾-109 109 -109 109 -110¼ 110¾-110¾ Ul½-111%
San Joaquin Br ....... 6 ... _ . . .. . - .... ....
- .... 107 -107
- .. .. 107 -107 108 -109¼ .... - ....... Cal.&Or.,ser."B".6100 -100 •··· - , ...... Land grants ............ ~ 100 -100 . . .. - • . .. . . . . - . . .. 98 - 98
- . .. . 98½-100 .... - .... 101 -101½
99 - 99
97¾- 98
97 - 97
97 - 97
Westei·n Pac ........... 6 110 -110 .... - .... 108 -110 108 -109 109 -109
107 -107
No. ofCal., 60 year .. ~ 100 -101 100½-101 100½-102 99%-100.¼ 98½- 99½ .99. 99 - 99½ .... - . ... 99¾-101
987-(-100
99¼-100!4 lOQ½-101
Chesapeake & OhioP. mon. tnnd ......... . fi 113½-113½ 112½-112½ 112½·112¼ 112 -112 109½-110 1091}.!-110 107½-108½ 108}.!-108½ 108½-108¼ llOxj-110½ .... - .... 112½-112½
Series A, gold, 1908.6 115 -118¼ 118½-119¼ 118 -118½ 115 -115 112½-lH 111½-113 116 -116¼ 116 -116 116 -116 112½·114¼ 114 -117 115 -115
Mo1•t,, 19.11 ........ ... . 6 116 -117 .... - ... ·1117¾-117¾ 114 -lU 1114¾-116 114 -114 110½-110½ 112 -112½ 113¼-116 114½·115 .... - .... 114½-114½
1st, con,, g., 1939 ... . :s 95½- 99¾ 99¼-100¼ 99 -100¾ 99½-100
91½- 97½ 05¼- 95% 95 - 98
98 -101 101 -102 101 -102¼ *99 -101~l10l¼-104½
Regist,.red . . . .............. _ .. . 08 - OSJ~ .... 04¼- 9<i¼
R.&A,div.,lstcon2-4 67 _ 70
69¾- 71½ 68 07~=
65½- 69¼: I
'i3
72 2d consol., 1989 ... .4 68 _ 71¾ 72 - 73 72½- 73
72½- 72½ 68 - 69½ 66½· 68¼ *64 - 66% 667,-ti- 69~ 70 - 72
70 - 75
73 - 73% 73%- 80
99}!i
70 ... 69 - 70½I
- 69½ ·os
69~
6~ - 1i .. 70 - 1i½ ·10 0
I 0
73 .. 72 - 77.
~Oi~.':.:::::::
C~:s:n~~~
1~ =1~~½ ~~~- =106 .. 1~=1~~~(~! =1~; 105 ~1~~~ 1~~-¼~1~~ .. ~~-~=1~~~ ~~:.¼=1~~~ ~~:.½=1~ 1~ -1~~ .. ~~~½=l~~t~l~~½
Chicago & AJton-1st .. 7104¾-105 104¼-105¾ 104%-105½ 105 -105½ 105¼-106 105!1(-106 102¼-102½ 103 -103½ .... - .... 105 -10o½l105¾-106
Sinklnir fund, 1903 .. 6 mo -120 .... - .... 121 -121 121¼-121½ .... - ... , 119,(-119½ 119½-119½ .... *118 -118 .... - ...
L.&Mo.R.lst, 1900.,- .... _ .... 116 -116 116 -116¾ .... - .... 117 -117
- .... 117½-117¼ .... - ... 116 -116
.
- ........ - .
St.L.J.& Ub.lst,'94 ,- 10'3 -108 lOP -109 .... - .... 106 -106 1063'-106½ .... - .... 105½·105% .... - .... 104 -104 106 -106¼
Miss. R. Bdg. 1st ... 6 .... _ ........ - ........ ........ - . . . . .. . .
- .... 104 -104 .... - .... 105 -105
Chic. Bui·.& Nor.-lst.:S 101 -101 103 -103
... - . .. . ... - ... 100¾-101
08 - 08 101 -101
- .... 102½-102½ .... - ... 100 -102 102 -103%
C. B. & Q.-Consol ...... ,. 121¼-123 1:!1½-123 121¼-122 121½-122¼ 120¾-123 121 -122 117½ -118!1( 118 119 120 -121½ 121½-122¾ 122 -124¾ 124 -126
Sink. fund, 1901 .... . ~ 103¾-l05 104%-105 103¾-105 100 -103 102 -102)4 101 -101 101)4-102½ 101½-103 104 -105 I.... - ... 102½-102½ 102%-102¾
Debenture, 1913 .... . i> 08¼-100% 98½-100
98¼- 99¼ 99 -102½ 98¼- 99% 97½- 99
96 - 99
95!1,(- 98
98½-100½ 100 -102 J 97 -100
99½-101¾
Couve-rtible, 1903 .. . ~ 104 -105½ 104½-106 *101-102 102 -105¾ 10! -105½ 103¾-104¾ 102!,(-104.¼ 102.¼·107¼ 105.¼-110 108½ 109½ 108 -110¾ 109½-114
IowaDiv.- ·sink. fd .. -~ 103 -103 106 -105 105 -105½ 102½-102½ .... . 103 -103 J.02 -102¼ .... - ........ - ........ - .... 101¼ 102 .... - .. .
Iowa Div., 1919 .. . .. 4 93¼· 93¼ 92¾- 92¾ 92%- 93
90¼- 90!)( 88 - 89½ 88¾- 89
90½- 92
91 - 91
91½· 05}.{ 91 - 011-2 91 - 93½
Denver Div., 1922 ... 4 92½- 95
88 - 89
88¾· 88~ 89 - 89
8714- 88 1-.i 87 - 88
88 - 91
- .... 86 - 86¼ 86¾· o
88¾• 90 90¼- 92½
Plain, 1921. .. ...... .. 4 85¼- 85¼ 86½- 86¼ . ... 81 - SL
- . .. . . . 81 - 84
Nebx·'skaExt.,192'1.4 86 _ SS¾ 86 - 86;}.( 84½- 86~ 85¼- 87
8! - 85}4 84¼- 85 ~so - 84¼ 80 - 8j
85 &.l¾- 87 87 - 90
Chic. & East. Illiuoislst, sinking fund ...... 6 ll:1 -113 114)4-114¾ . .. - ... 114¼-115% 114 - 115½ 108¾·110 110¼-110¼ 1107,(-111 112½-112½ 116 -116
lstconsol., llOld .... .. . 6 mo -l2l 120 -121 .... - .. . 119½-120 120 -1::0 119½-120 120 - 120 120 -120 119½-119½ 118¾- 118¾.11 ½.-120 122½-122½
Gen. mo1·t., 193'1 . ... ~ 05 _ 08½ 96 - 96½ 95 - 06
06¼-100
95 - !.!7
05 - 96
95¾ 06¾ 95 - 07
96½- 97¾ 97 - 00¼ *06 - 96½ 95 - 07¼
Chic. Gas L. & C-lst .. :S 83½- 89 - 88 - 88 ... 88½- 02½ oo - m
00½- 91½ .... 80½ · 80½ .... - ........ - .... 8! - 5¼ 84%- 89
Cbic.&ln.C'lRy-lst.5 97 -100
97 - 97
96 - 06
96¾- 07½ 97½- 07½ 06½- 06¼ 95 - 1.1 5
03% · 9!
96 - 96
96 - 96
05½- 97
96 - 97
86 185½ 87¼
~::~:!;; :.~t:t~;~~a .... -........ -........ -
•
- ... -........ -....
93 - 93
.... - .. .
1
1st, P. D., 1898 ...... 8120 -120¾ 117 -119 118 -118¼ 118 -120 J.Hl -119 LlS¾-118¾ 118 -119½ l16 -116 116½·118½ 118 -110
. 119½-121
2d, P. D,, 1898 ..... '1•3116 -117 111½-112½ .... - .... 115 -115 113 -115 115 -116
.... 117¼-118 117½·110¼ 11 ¼·119)4120 -120½
1st ,gold, R. D,1902.'1122½-122¾ .... - .... 121)4-122¼ 122 -124 122½-l:12½ 121½-122½ .... - ... no -121¾ 121½-121½ 122½-122½1123½·123½ 127½-127~
1st Lo. Crosse Div .... 7 *105½--07½ 106%-109¼ 108 -100 109½.-111¼ 111 -112'h, 110 -112 *106¾-109 t09 =11·3· .. 1.1..3. =11·6·½·. 11..6. =11·8·¼·'1·111 7 =1; ¼ '1.·l·O· =12·0·¼·
1st I, & lU. Div .. ...... 7 113 -113 112 -113¾ 113 -lH 113½-115 114 -114 lH -114 .. . - .... ...
11
1 _0
1st I. & D. Div ........ 7 115¼-115¾ 118½-118½ .... - ... 118 -118 . . .. - . . .. 119 -110 .... - ........ - .... 1116 -110½ .... - .... 118½-118½ .... - .. .
1st C. & M. Div .... ... " 120¾ 123¾ .... - .... 121½·122:L:t' 124¾-125 lil3¼-123¾ . .. . - .... 121¼-121,½i .... - .. . . ... - . . 125 -125 .... .... - .. .
Consol., 1905 ........ .7 *120 -125 124½-125½ 121 - 123 123 - 125¼ 12!3 -125 123½ -124½ 121 -123 123½·1~:11~ 121 -12-l-¼ 124½ ·125½ 12G½-126 l26 -130
1st I. & D. Exteo . ... ., 12a;JJ · 123¾ 123 -124½ .... - ... . 122!i -125½ 123 124 123}4-123¾ .. . - .. .. 110 - llU 1121 -l2L L23}4-12G 125½-128 t29 -130
1st So.•We~t. Div .... .6 110 112 lll -112 110%··111 Ul -112¼ 111 111 1,,; lll¾-111% 108;14-100 108½-111 110~ 112 110,½i-112¾ 112 -11~ ll3J4-116
1st La C. & Dav •.... . !.> ••. - •••• 100½ 101 100¼-lOOxl 00½-102 . ... - ... LOl½-101½ 100 -100 100 -100 100.½3·101
- . . .. J.02 -10-
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
* Ex-iutercst.
RAILRO.AD B O.NDS.
1891-Contln ued.
BONDS.
JANUARY / FEBR'RY.
MAROH.
APRIL.
MAY,
JUNE.
AUGUST. 8EPT'BER. OCTOBER. NOV'BER. DEO'BER.
- ,- - - 1 - - - ----1----1----JULY.
-- - - ---- - - - - - - __ _
-.
Low.High 1Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High
Ch. l'lil.&St.~.-(Oon.)- ·- - - -,
tlst So. Minn. Div ..... 6 110 -112½ 111½·114 111½-112½ lll¾-112½ 112 -112½ 112¾-113 111 -111¾ lll!}.!-114 113 -113 113 -114¾ 115 -116 116 -118
1st H. & D. Div ....... 1 119 -120 1119 -119¾ 119 -119½ 1193,s-120 119 -119¾ 119¼-119½ 116½-117½ 117¾-120
- .... 118½-119¼ 119½-121 122½-125¼
1st H. &D. Div ...... lj 100 -100 .. . - .... 100 -100 .... - ........ - .... .... - ........ - ........ - ... . 98 - 98
98½-100 100 -100 ...• Chic. & Pac. Div ...... 6 .... - ........ - .... 115½-115½ 120 - 120 115 -116 113½-114¼ 112 -112 111 -111 114 -114¼ 114½-114¼ 115¼-115½ .... - .. ..
Chic. & Pac. W.Div .. ;l 104 -106½ 105 - 106 104½-105¾ 104%-107 105 -107¾ 105½-106½ 104 -104¾ 104½-105¾ 104¾-105½ 105¾-107½ 107 -107½ 107 -108½
Chic. & Mo. R. Div .. lj 95½- 98
95½- 98
95 - 96
94½- 98
- ... . 97¾- 98 *95 - 95½ 94 - 94
97 - 97
97 -100
98¾-100¼ 101 -103
Mine1·al Point Div ... lj 97½-100
99½-100
96 -100 101 -101
96½- 96½ .•. . - .... 100¾-101½ .... - .... 101½-104
C hic. & L. Sup. Div.:i ... 90 - 99
98 - 98 101 -101 .... - .. . . 100 -100
... . - .... 101 -101
Wis.& Min. Div . . ... .:i 101 -103 101:!(-102½ 101¼-101¼ 101½-102 1013,s-102 101¼-102 100¾-104 101¼-101½ 101 -102½ 102 -105 105 -106 105 -106
Tm·minal. ........... .. lj 101 -102¾ 100½-102 100 -101¾ 101¾-103½ 102 -103 101 -102½ *100 -101½ 101 -102 1()0¾-102¾ 103 -105 105¼-105¼ 105¾-106¼
Fn1·ao & Southe1n ... 6
- ........ - ........ 113 -113 .... - ... .
Dakota & Gt. So • ... /> .... - ........ - .... 92½- 94½ 94¾- 96
95¼- 96¾ .... - .... 95 - 96½ 96¼- 96¾ 97½- 98¾ 98 -100¼ 99½- 99¾ 99%-103½
Gen. lll.,"A" 19 ' 9 .. .4 84¼- 86
86 - 87
84½- 85
84½- 85
85 - 85
83½- 83½ 81½- 83¼ 83¾- 85
83½- 85
84½- 85¼ Si - 85 84¾- 89½
Chic. & N 01•thwest'nConsol., 191.l . ........ ,. 138½-139½ 136:1:(-138 137½-138½ 138 -139¾ 136 -136½ 134 -135 134 -135 131½-135 133 -135 134½-137¾ *35½-137¾ 137½-·140
Gold, coup., 1902 .... 7 125 -127½ 126 -127¾ 125)4-127 125½-126 125 -125 121 -122¼ 122 -123 122¾-123 122 -123 123 -124½ 124½-126½ 121½ ·122½
Gold, 1•eg., 1902 ..... . 7' 125 -126 125½-126 124½-124¾ 124½-125 126 -126 120¾-121½ 122 -122½ 121 -122½ 122 -122 123 -125½ 123 -124¾ 121¾-123
!Sinking: fund, coup .... 6 .... - .... 115 -115 .... - . . .. 115 -115 114½-115 .. .. - .... 111 -112 113 -113 .... Registm·ed .... . ... . .. 6 114 -11f
- .... 114 -114
Sinking tund, coup .. . 5 105 -107½ 107 -108¼ 107½-108 106 -106½ 106 -106 106¼-107 106 -106½ 106½-107½ 107½-109 105 -106¼ 106½-107¾ 107½-lll½
Registered ........... ~ 106 -106½ 107 -107 .... - ........ - .... 102 - 102 .... - .... 106½-106½ .... - .. ..
Debentu1·e, 1933 ..... /.'i 106½-108¾ 109 -109 107 -107 107 ·- 107¾ 163 -1C3 .... - .... 102¼-103½ 103 -105 104½-104½ 105 -105½ 107½-107½ 106 -107
Registe1·ed ........ .. . 5 105½-106 106¾-106¾ .... - .. .. 107 -107 ..•• 101½-101½ 102 -102½ 103¾-105 105 -105 .... - .. .. . . • - . .. 103¾-106
~a yrs, dcben., 1909.;l 104½-105¼ 105¼-105½ 105¼-105½ 105 -105¾ •••• 102½-102½ 102 -102½ 102¾-104 l(}!½-105 104 -105½ 101½-103 103 -105½
Registered ........... :; .... - ........ - ........ - . . .. . .. - .... 102 -102 .. .. - . .. . ... - . ... 103½-103½
30-year deb., 1921 .. a .... - .... .... - ...... .. - ....... - .... 103½-1041104½-105¼ 105½-105½ .... - ... 103 - 103 103 -105¼
Exten. bonds, 1926 .. 4 90½-100
06 - 96
95½- 90
94¼- 94½ 94 ~ SH
95 - 95
93½- 94
94 - 94 ... . - .... 93 - 95
- .. . . 93½- 95½
Registm•ed .. ..... ... 4 .... - ... 93¼- 96 94.¾- 91¾ 95 - 95
94
94
9i½ 9i¼
93
93
95 - 95
9i - 94
Iowa lllidland.-lst.8 .... - ........ •... 123¼=194 .. . . = .... _:::: = :::: .... = .... ....
- ... 122½-122½
Chic.& 1Uil.-1st ...... 7' 112¼-115 1115 -116½ .... - .... 116 -116 118 lM .... - .... 114½-lH½ 113 - lli 115 -115 114 -116½ .... - ... 110 -116
Winona& St. P.-!ld.7' 130 - 130 [···· - ........ - ... . ....
. • 122 -122 .... - .... 124 -124 .... - .... 125½ -125½
lUil. & M.ad,-lst .... . 6 ... . - ........ - .... lli -114
.. .
- . .. 115 =11·5·. J • ~:.· L= .. ;~
1
1"'-":n.
104,,,.
Ottum. C. F, & St. P.a 105%-105¾ 107 -107 104½-105¼ .... - .... 104 -105 .... :Northc1·n Ills.- lst .. 5 .... - ... 100¾-107½ .. ..
- .... 104½-lOi½ ... . - .... .. .. - .... j105½-105½
Chic. Poo1·. & St. L.,g .;l 97¼-100½ .... - .. .. 06 - 96
95 - 97¾ t 6 - 97½ 94 - 95¾ 92¼- 92½ 93¼- 98
97½- 98
. .. . 97½- 97½ .. . . - ....
Chic. R. I. & Pac.Coupon .. ..... ....... ... 6 12-1 -126½ 127 -127¼ 126 -126 125 -126 123¼-125 120 -123½ 118½-ll9¾ 119 -120 120 -121½ 120½-120½ 122½-lZi 124. -126
- .... 122¾-122¾ 120 -120 117 -120 118 -118 120 -120 120 -120 121 -121 1120 -121
Registere,l .. ...... ... 6 .... - ........ 97 - 99 *95½- 98¾ 96¼-100½ 100 -100½ 99½-101¼ 100 -101 100¼-104
Exten. & Col. ... ..... . 5 *96'.%- 99½ 97 - 98¾ 95¼- 07¼ 96 - 97¾ 96¾- 98
95¼- 96¾ .. .. 93½- 94¼ ... - .... 100 -100 .... - .... 99¼- 99½1100 -100½
Registe1•ed.... .. .. . . a *95½- 98¾ . . . .
. . .. 96 - 96
- .... 101 -101 .. .. - . . .. .. .. - .. .. . . . . - .. .. . . . . - . . .. 95 - 95 1 95 - 96¾
Debenture, 1921 ..... a .... j . . ..
Keok'k&DesM.-lst,li 97 - 99½ .... - .... 97 - 97
90 - 91
- .... 91¼- 91¼
.:::
=
Des M. & Ft.D.-lst,4 'i'5 - 80
.. .. 76 - 76
- ........ ....... - ........ - . 73-73 .. . .
Extension ............ 4 .... Chic.St.L.&Pitts-lst . .l .... - .... 100 =1~~ .. i~i =i~i 100½·101 101 -103 100 -100 .... .... 100½-101 : : : :
Registered . .. . . .... .... ti ... Chic. ~t.P. Min.&Om.I
Consol., 1930 ........ . 6 116 -119 117 -117¼ 116 -117½ 117¼-118½ 118 -118½ *113¼- 116 115¾-118 116 -118¼ 116 -117 118 -119¾ 119¾-120)4117¾-120
- .... 119¼-120 123 -123 119¾-120 1120½-122½
Chic.St.P.&M.-ht .. 6123 -123 122 -122 123 -123 122 -122 120 -120 119 -119 119 -119
St. P. & S. City-lst .. 6 .. .. - . . .. 123½-124 123 -124 119)4-121½ 119%-120¼ 119¼-119½ 118½-122 120 -121 121 -121½ 121 -122 121 -121½ 121 -122½
Chic. & West. Ind.Gen. 11101'1:., 1932 ..... 6 .... - .... 115 -115 113¼-113½ 113½-115 .... - ........ - ........ - .... 114 -114¾ .... - .... 113½-113½ .. .. Cin.Ham.& Dny.-!-.f'.7 122½-122½ .... - ........ - ....... . - ........ - ........ - ..... ... - ........ - ........ Cin.ln.St.L.&C.-lst.4 96 - fl6
95½- 96½ . ... - .... 94 - 94 . : .. - .... 93¼- 93¼ 92½- 92½ .. . . - .... 92½- 92½ 92½- 92½ 89 - 90½ 92½- 92¼
= :::. -~~½= ~~~ .~~.~ ~~ ... ~~~ ~~ . ~~ ~~½
~~~ ~~¾
= :::-i::::
~::: ~~~!!ci!~~~~:~:: - ~~
~~ . .r::::
1
=
= :::: :::: = : ::: :: ::
= :::: .::: ~ :::: ::::
= : ::: :::: = :::: ·: ::
- ........ - .. .. 106 -106
-
.... -
Cin. & Spr.-lst, gu ... 7' .... - . ... 1.... - ........ - .... 113 -114
·
- .... 112¼ 112¼
- ....... - ...... ..
Cleve. & Canton-1st.ti 87½- 88¾: 88 - 90½ 87¾- 88
86½- 93
90 - 91½ 90 - 90
88½- 89¼ 89 - 90½ 87 - 89 .1 87¾- 88
86 - 88
86 - 90
Clev. Ciu. Ch. & St. L.92 - 92
88 - 88
88 - 88
Cniro Div .,lst,l 939.4
88 - 88
86 - 86
85 - 85
.... 90 - 90
83 - 85
85 - 85
!St.L.Div., 1st, 1990.4 .. ..
83 - 83
Clev, Col, Cin, & Ind.1st, sinking fund .. ... 7 .. .. 116½-117½ 116 -117 117 -117½ 112½-114¾ 112½-113 113 -lli 113½-113¼ 113½-ll5 115 -116¼ 112¾-114 114½-116
- .... 128 -128 ....
Consol. ................... 7 129 -129 131 -132 131 -131 129 -129 130 -130 . . ..
- .... 116 -ll7½ ... . - .. ..
- . . . . ll6 -118 114 -114 ll3 -ll3 113 -ll3 .... General cons ... ... . ... 6 117 -118 118 -118 119 -121
- .... 109 -109 .. . . - .. ..
Cl.&lllah.V.-g,193S. .l .... - ...... - .... 110 -110½ ... . - .... 110 -110 .... - .. . 105 -107½ .. . . -104¾
99
-100½
99
-100
98½-101
101 -102 101%-102½
Col. Coal & 1.- lst,con.6 102 -100 *102 -103 102 -1033,s 103½-104½ 104 -lOi½ 103%,-104 103
- .. . 100 - 100 ....
Col. Fuel-Gu,g,1919.6 .... - ..•. 105 -108 105 -109 105 -109 109 -111 *07¼-111
Colo1·ndo lUid .-1st, g .6 107%-107¼ 100 -106 .. . - . . .. 104 -106
62¾-62¾ .... 63 - 65¾ 65½- 71½ 69 - 71¼ 69 - 701¼; 69 - 73¼
Consol., gold, 1940 .. 4 69:!,,i- 71 *70 - 70)4 66¾- 68
62 - 68
65 - 65
- .... 103 -103
Col & Gr.-l s t, 1916.6 .... - ....
99¾- 99!'4: 101¾-103
82¼- 89¾ 85 - 87
86 - 88¾
78½84½ *81 - 85
Col.H. Val.& T.-lst ... ;l 80¾- 86
81 - 85½ *80 - 82
79½- 81½ 80¼- 83\{ 79 - 81
79 - 81
88¾- 94
93½- 94½ 90 - 93
Gen. gold, 1904 ..... . 6 84 - 86
81 - 86½ 86¼- 89
81> - 87
84¾- 86½ 84½- 86
86 - 88
82 - 83½ 80 - 83
- . . .. 98-98
Col.H'kC.&1.-1917'.6 07 - !JO
- .. .. 98-98 . .. . - .. .. 72½- 72½ . .. . - . • .. 76 - 80 -1<77%- 82
Consum.Gas(i hic)lst.5 82 - 82
Consol. Coal-Conv . .. . 6 101¾-104
Del. & Hudson Canal1st extended, 1891. .7 .. .. - .... 102 -102 ....
. .. . 103½-103½ 100½-100½ 101¾-101¼ 101¼-101)4 102½-102¾ 102 -102
.
Coupon, 1894 .......... 7 110 -110½ 110¾-llH.{ lll¼-112 109 -109 107'%-108¾ 107½-109 106½-108% .... - •. , 109¾-lll½ .... - .... 108¼-108½ lQS¾-108¾
Reg,, 1894 ............. 7 .... - .. .. 110¾-110¾ .... - •.. . 108½-108½ 107½-107½ 107½-108 108½-108½ 109 -109½ 109½-110¼ *107 -108 108¼-108½ 108¾-108¾
Penna. Div.-Coup ... 7 H2 -142 142 -HZ¼ .. ..
- .... 143½-U3½ .... - .... 140 -143½ . .. .
. ... 138 -138 139 -141 .. . . Registe1·ed'.. ........ 7' .. .. - .... 14.0 -140
- .... 142 -142 141 - 141 144 -144 . . . . - .. .. . . .. - .. . . . . .. - .. . . .. . • - .... 141 -141
Alb. & Sul!lq.-lst, iiu .? 129½-1..,,1 129)4 129¼ 130 - 130¾ 126 -126 127 -127½ 127½-127½ 126½-127½ . .. . - • ... 129 -129 125%-125½ .. . . - .... 126½-128
1st coup., guar ...... 6 118½-121 119)4-121 122 - 122 120 -120 119½-120 118¾-121 120 -121 120½-121 121 -121 *115 -118 118 -118
Registered ........... 6 119 -120 119 -119 .... - .... 117 -120¼ .... - .... 118 -118 .... - .... 120 -120
- ... 118 -118
Rens, & Sar,-lst .... 7 H3¾-147
.... 145 -145
140 -UO .... Registered.... ... . . .,. 14.5 -149
Del. Lack. & Wcst... .. 1()2.¼ -102¾ ..•.
Conve1·tiblo ... ..... .. ... 7' 103½-103¾ ... - .... 104¾-104¾ ....
.. .. 102 -102
... 130 -130 129½-130 132 - 132 . .. . Mo1·t., 1907'
........ 7 .. .. - ....
130 -130 135 -1:!5 134 - 134 135 -1:-J5
Syr.B'n &N.Y,, lst .. 7 .... - ... 131 -1::l2 .... - .... ....
. .......
Morris & Essex- lst.7 141 -141½ 141½-142 140 -140 14.1 -143 1~½-140¼ 135 -138
- ····\136 - 136 137 -137 138 -139 135 -137 135 -140
2d .lllortgage ......... 7 103½-10!¾ 101¼-101¾ 101%-102 102 -102¼ 102¼-102½ 102½-103¼ 103 -10!3¼ ... .
Bonds, 1900 ... ... . ... , 116 -116 1 ... - ........ - ........ - ... 1 ... - .... ... - ... . ....
- .... 115¼-115½ .... 1811-1901 .. .. ..... . . 7' 124¾-125 12! -124 123¼-123½ .... - ... . 120½-122 120½-121¾. ...
. ... 120 -121 122½-122½ ll9,¼-119¾ .... - .... 121½-122
Conso~., guai· ......... 7 126 -138 137¾-138 137 - 137½ 136 - l!J7 .... - .. .. 133 -133 133 -13i 130 - 133 133 -134½ 18i -135 137,¼-138½ 183½-135½
Re1nstered ..... .... 7' .. .. - .. .. .. . .. - . .. . .. . . - . . .. .. .. - . . .. .. .. - .. .. .. . - . . .. .. . .
- .... 132 - 132
N.Y. L. & w.--lst .. .. 6 127¾-132 128½-130¼ 130 -1:W¼ .. .. - ... . 130 - 130½ ... - .... 1125 -127 125 - 127
- . . .. 125 - 125 125 - 126 126½-128h
Consn·uction .... .... ~ .... - .... 108 -108¼ .... - . .. . . . . - .... 108½-109¾ 108 - 100½ .... - .... 108 -109 109 -109 107½-108¾ 108½ -100
Den. C. Cnbl •- J st .. . Ci ... - .. .. 100½-100½ .... · .... 98¾- 10:.!}.{ l t.:1¼-101)4100 -100
- .... 102- 102 .... - ........ - .... 100 -10:.l
Denv. & Rio Gi·.- lst .. 7 .lti - ::.17 117 -119½ 117½ 118¾ 118¾-119½ 115%-115¾ lH ¾-115~~1114½ -114¼
- .. ..... . - ... 117 - 117 lH½ -115 115¾· 111;¾
New consol, 1936 . . . 4 ~ii> - b~
81 - 83
8 1 - 83
82 - 83
81½- 83
80¾- 8£½ : 78¼- 80½
79
78¾- 80¾ 78½- 79½ 78½- 79¾ 79½- 8~¼
___ hnJ). JU., g-., Ht:18 .... . I) 82 - 85
8" - 86
84 - 85
8294- 83½ 83¼- ~
. .. . i 76¼- 76~ .... - ........ - ... HO - 80
* Ex-interest
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1 ....
-
........
-
....
77 -
RAILROAD
BONDS.
1891- Continued.
----------..------,-.--------,---------.- ----,------------------,.------ -- -I
BOND S
----,---------
J_A_N_u_ARY _F_E_B_R_'R_Y_. _M_AR_cn.
APRIL.
MAY.
~UN~ _J_u_L_Y_.__A_u_o_u_s_T_. S_E_P_T_'B_E_R_. _o_c_T_oB_E_R_. N_o_v_'n_~ ~-c'_B_E_R_.
Low .High Low.High Low .High Low.High Low.High Low.High Low.High Low.High L o w . H i g h ~ Low.High Low.High
Det. M. & 1'1.-L.ii .... 3 ½ .... - .... 32 - 32¼ 30 - 30 31 - 31½ 31¾- 31¾ 30 - 31
- .... 30 - 30
32 -82
30¾- 35¾ 35 -35
34 -42
Det. B. C. &Alp.- l s t .. 6 *81 - 95
90 -90
95 - 96½ 93¾- 94' .... 80-90
93 - 93 .... - .... 92-92
Duluth & I. R.- t s t . . . ~ 95 -100 .... - .... 97 -100 97 - 97
- .... 94½-95
96 -97
99 -100¼ 97 - 97
Dul. S.S,& Atl., 1937 .~ 95 - 97¾ 98½- 99
85-94
93-93
95 - 97¼ 97 - 97
95½- 96½ 95 - 99½
96½- 99
97 - 98¼ 95 - 97½ 97 -97
E.T. Va. & Ga.- lst .... 1 ,,_. - .... lU -115 115½-115½ .... - .... 115¾-115½ lU -114 111½-112 .... - .... 111 -111½ 112 -112 113¾-113¾
Divisional. .. . ...... .. . ~ 105 -105 106 -106 106 -lOf. .... - .... 106 -106
Cons ol., 1st, 19~6 .... ~ 101 -104 101½-103¾ 101 -102½ 101¾-102 96- 100 98¾- 99¾ 98 - 99 97¾- 98
91 - 96
97 - 98½ 93 - 96¾ 90 - 96
.... 69 - 69
1st ext. g .1931 ...... ~ .... - _... 79¼- 80
- .... 88½-88½ .... Equip. & Imp., g old .. ~ . . . . Mobile & Bir m.- 1 t.~ . ... Knox. & O.- l st, g ... 6 103¼-107 106½-108¼ 107½-109 107 -109¼ 108 -108 107½-108 102 -105 103½-106 .... - .... 102 -102 103 -104' 107½-107½
Alabama Cen t . -lst. 6 .... - .... 116 -110
.... 116 -116 ···- - ........ E dis on E. I ll. Co.- l st.~ 95 -100
99½-100
- .. .. 9 ¼- 99
99 - 99¾ 98½- 98½ 98 - 98¾ 98¼- 98¼ 96¾- 97¾ 98 - 99¾ 99 -100
99½- 99¾
Eliz. Lex. &Big . ~ .... 6 90 - 95
93¼- 94¾ 92 - 94
88 - 92½ 88 - 90¼ .... - .... 85 - 88½ 86 - 87½ 82 - 85½ 80 - 83
80 - 85
80 - 80
Equit. Gas . & F.-1 t .. 6 .... - .... 9-i½- 95
- ........ - .... 93¼- 93¼ ·--· - .... 92½- 9~½ 92¼- 93
97 - 97
96 - 98½
Erie & Pittsb.-C ons .. '7 .... .. - .... 114 -114 .... _ ........ Erle-1st, Ext. , 1 8 9 7 .. ? 114 -114 117 -117 117¾-117¾ 116:ij-116¾ .... - .... lll¾-111¾ .... - .... 113¼-115 115 -117 .... - .... 113 -114¼ 113¼-113¼
2d, E x t., 1919 ... . ..... ~ 116 -118 .... - .... 118 -118 ... - · ··· 113½-113½ ....
• ... 114)4-114)4112½-112½ .... 3d, Ext ., 1923 . . .... .4½ 107 -108!4 . _. - . . . 107 -107 106½-106¾ 106 -106 ... . . . 105½-105¾ 106 -107 .... 108 -108
4tb., Ext., 1920 .. ..... ~ 112 -114 . . .•
- ........ - .... lll¼-111½ 112 -112 ....
- ....... - .... 110 -110½ .... ~th, Ext., 1928 ... ... .. 4 101 -101½ .. ..
- ........ - · ... 102 -102 100 -100½ 100¼-100¼ .... - .... 102 -102 .. . - .. .. .. . .
.. .. . .. .
1st, consol., gold ...... , 133 -137¾ 136½-137¾ 134 -135 134¼-135 133 -135 134 -134 135 -135 134%-135¼ 133 -134 132½-133½ 1:&½-133¾ 134 -135¾
1 st , cons., fnnd, cp ... ? .... - .... 128 -128 ....
Reorgan., 1 st lien . . . ti .... - .... 106 -106
- .... 109 -109
- .. 103 -106 106 -106 105¼-106¾ 109 -109
- .... 110 -111
Long Dock, 1893 . . ... , 105 -105 106¼-107 106½-107 107¼-107½ ... - .... 103 -103% 103½-103½ 104½-104'½ 105 -105 106 -106 106 -107¼ 103¾-103½
Cons. gold, 193~ ... 6 115 -117 118 -118 .... - ... 117 -117¾ 118¼-118¼ 118½-118½ 117 -118½ 117½-118 118 -120 115¾-115¼ .... - .... 115%-115%
Buff.N. Y.&E.- lst. ? .... - ... .. . - .... 137 -137 135 -135 134¼-134½130½-130½ .... - ........ - ....... .. .. - .... 134 -135 131 -131
N.Y.L.E.&W.-2dcon.6 96¾- 99¾ 99~101¾ 97¾-100¾ 99¼-102¾ 100 -102¾ *96 - 98
96 - 98
96½-103½ 102½-105 104 -106¾ 105½-107¼ *104-107½
Col. Tru st, 1922 .... 6 •··· - .... . . ..
.. ...... - .... 107½-107½ 110 -114 107 -108
~rigr~~~::j;;½:,;¾ i; :,;,; i1:: ::~ :j) i~ i ¼;:~li;,;:~ L:: ;;~:,; L= L: i;~:,; .: ~:
Income, 1982 .... ......... .
Eureka Sp' g s ., l s t1r ... 6 ....
Ev.&Ind'p,con.,1926.6 118
Ev. & T. Haute-Con .. 6 115
Sul. Co. B r anch ...... ~ ....
-
Fi':!;~e;.i;;;-;.~;i~;~::
=120 ..
- .. .. 28 - 30
-118
-117
105 -105
117 -118
.... 27 ¾- 28
2
llO -l1
. •. = :::. ii;¾=llO
tstcons ., ll• • 1939 ... 5 ... - .... 101½-103 10~ -102 101½-l04
Pt. Hur. Div. , t s t .- .. 5 98 - 99¾ 99¼-102½ lUO -101½ 99 - 119
::~~:;;:;.~.:. 1~:t::
i20
·w¼=105
101½-104
28 - 28
26 - 27
....
....
119 -119
92 - 92
.... - .. .. 28 - 30¾ 33½- 39
....
.. .
110 -110 .... - .. .. .... - ...
115¼-115%1115¾-115¼ 115½-117¼
.... - .... 93½- 94½ 95 - 95
38¼- 42¼ 38 - 40
39 - 48½
.... - ........ - .... 103 -103
107½-110 L04½-104c½ 108½-111
.... 119¼-119½ 118 -118¾
.... 1
117 =120 .. ii7½=1i7½ iis~1iS¾.ii7½=1i7¾ i20 =120 ..
: ~ . . ii~¾=!!~¾ i20½=12()¾
.... .... 100 -100 100 -101½ 101¼-101½ 101 -101½ 100 -100 100 -101¼
SJS -100
97½- 97X! 97 - 98
96 - 98
98 - 99½ 97 - 98
977k 99¾ 100 -100½
- ... 105 - 105
118¼-120 119¼-110~4 119 -119
- ........ - .... 92 - 92
~~
102¾=105 .. io3 =10* ios =105· ~98¼=100¾ · 98~100 .. ·
93 _99
98¾-100½ 100 =102 .. 1: =1~~ ~::=
~
Ft. W. & Rio G .- 1st .. ~ . . . - . . . . . . . . - .... 1· · · · - · · · · 75 - 75¾ 74-½- 75½ 72 - 74cs¼ *69 - 71
70 - 71
71 - 71¾ 71½- 72½ 71 - 72¾ 72½- 74¾
1
Galv. H. & H. of '8 2 .. ~ 70 - 72¼ 73 - 74¾ 74¾- 75½ 'i3¼- 77
74' - 74 .... 74 - 75¾ 74¼- 76
74¼- 74¼ .... 74 - 78
G.H.& S.A.-lst , 1 9 10 6 96½- 96½ . .. - .. . 106 -106 102½-102¾ .. ..
98 -100
........ _ .. ..
2d mort, 190~ ......... ')' 94¾- 94¾ 100 -100
- .... 95 - 05
05 - 95
- .... 100 -100 .. _. - .... 100½-100¾ 97½- 97½
Western Div-1st ... . ~ 93½- 94
93¾- 94'
93½- 94¾ 9'1 - 95 *92 - 92½ 91¾- W¾ 91½- 93¾ 93½- 95¼ 95 - 00½ 95~ 97¾ *94¼- 05¼ 95 - 96¼
Ga. So. & Fla.-l st, g. ti ....
96½- 96!-6 ···· 82 -82 ....
. .. . 82 - &I.
Gr. Rap.& l n d.-Gen.5 .... - ._ .. 86 - 87
.... 77 - 77
80¼- 80¾ 80 - 80
80¾- 82
Gr.Riv.C'I &C oke-1st 93 - 93
93 - 93
90 - 90 ....
G .B. W .&St. P.-l stM .6 ....
. 2d, income .............. ~ 22 - 22
All subs . pai d. ........ 25 - 25
23 - 23
22 - 22
25 - 27
25 - 30
24. - 26
29 - 3-!¼ :12½- 39¼ :.;,:;_½- 38
:.l5 - 2i".i)4 2¼ - 25
36½- 38
Han. & St. Jo.-Cons. ti 114¼-117 116 -117 110 -11:w; 113 -113)4 112¾-113 112½-112½ 112¾-113 113¼-114 110¾-lli 112½-114 113¾-116 116½·117½
Hen. Bridge Co.-l st ... 6 108 -108 110 -110
= : ::: :::: = :::. :::: = :·:: .: :: = :::: ::::
= : : :: :::: = :::: i04½=104¼
Hobok'nL.&1.- 1910.~ .. . . - ...... ..
Housat'c- Con.,193.,. .. ~ 104½-105 104½-104½ 105 - 105 102 -105 .... - ... . 103 -103 102½-102¼ 103 -103 :103 -10¼ 106 -106½ 103½-104 104 -104
- .... 104 -104 104 -104 , ....
N.H.& Derby- cons .. 5 . ...
H ous. & Tex. Cent .-102½
100
1st, gold, 193'7 .. . .... ~ .... - .... 102¾-103¾ 102 -103 101
99½-101¾ 101½-101% 102 -105
-100 101½-102½ *99¾-101¾ 9!) -101¾ 101 -101
99 - 99
Consol., g old, 1912 .. 6 .... - .... 103 -103 100½-102 100 -100
97 - 99¾ 98½- 99¾ lOl -101
08 - 99
98¾- 98¾ .... - .... 100 -100
62 - 64¼ *60½- 62½ 61 - 63~ 61 - 65¾
General, 1rold, 1 921.4 .... - . . . . 66 - 66
64 - 66¾ 1 62 - 0-!% 63 - 03½ 62½- 63
62½- 64
63 - 65
- .... 80-80
80 - 80
Debenture, 1 8 9 1'... . . 6 . . . . . .. . 83 - 8ti
83 - 83
80 - S.3
70 - 70
- .. .. 61 - 63 .. .. 65 - 65
Debenture, 1 ~ 9 7 ..... 4 · --- - .... 71 - 71¾ 70 - 70
07 - u7
M. L. Trus t rec ..... . , 110 -113¾ .. ..
Waco & N. W.-lst .. 7 115 -115 111 -111 113 -113 .... - .... 113 -113
2d M. L. trus t r ec .. 8 120¼-120½ ....
Gen, M., Tru s t rec ... 6 :~ - 86 86 - 88¾ .... 111. Ce n.- G., U 9 ~1. 3 ¾ 90¾- 92 .... - .... 92 - 92
- .... 92¾- 92¾ ....
.. .. 89½- 80½ H2¼- 92¾ 90 - 91
89½- 90
90 - 90
91 - 927-!
Registered .. ...... 3½ . . . . - . . . 92 - 92
92 - 92
92 - 93
_ . .. . . .. . _ ....... .
1st gold, 19~ 1 ........ 4 102¾-105 102 -104 100 -100 103 -103 103 -103 102¼-102¼ 100 -101 100 -100
- ........ - .... 105 -105
Gold, 19~2·· ····-···· · ·4 96½- 96½ 96 - 96¼ 90¾- 97
9'1 - 94
93¾- 95
94¾- 95
94½- 95
94½- 95¼ 94¾- !!3¼ 93¾- 9-!
93½- 94'¾ 94¾- 96½
Springf. Div., '1>8 . ... 6 .... 108½-108½1108¾-108-¼ 105¾-lO.;¾ .... - ........ - .
.. .. - .. . 108 -108 .... - ...
C.St.L.&N.O.-lst,c. 1112 -112 111¾-111½ .... - .... 126 -126 .... - .... 1110 -110 .... - .... 112 -112 .... - ........ - .... 111 -111 .... - .. ..
Gold, c oup . ........... 5 111 -113
- .... 109 -110½ .... - .... 110 -110¾ 107 -110½ 110 -111 107 -107 .... - .... 110 -110 112½-113¾ 113½-114
Gold, r eg--...... . ..... 5 .... - .... 108½-108½ .... - .... 106 -106 106 -100 104½-10'1½ .... - ... 112- 112 no -112½
Dlemp. D iv. , lst,ir,,4 .... - .... 95 - 05 .... - .... 95 - !J5
Dub. & S. C .. :ld div.,, .... - .... 101 -101 101¾-101½ ....
CedarF.&M.,lst ... 1 75 - 85
80 - 91
90 - Ul
90 - 93
93 - 93
79¾- 80 .... 80 - 91
85 - 85
85 - 85
87 - 91
I nd. D. & S pr.-lst,t .'7 95 - 95
- .... 103¾•lll3¾ .... - .... 103 -103
- .... 105 -105 108 -108
Do t rus t r eceipts .. .... 100 -105 l'll -102½ lOl¾-101½ 103 -103½ 101½-103½ 95 - 09
- .. _ 100 -10:, 10-.1 -108 107¾-108½ . ..
I nd. D . & W.- 2d, inc.ii 32 - 32
31 - 31
.... ....
... 1....
,... ....
.. .. 28 - 2ti
Mort., g old, 1947 .... /> .... - • • .. 88 - 88
..
I 78 - 78
- .. .. 82 - 8:J
Intern. & Gt. No.-lst.6 111 -115 113 -114 112½-113 113 - 115 112 -1i5 iio -1iO¼ 109¾-112½iio -111 lU -110 115 -116 115¾-116 115¼-118
Coup .• 1909, ti·. rec .. 6 72 - 76
72¾- 73
68 - US
68½- 73
68 - 68
68 - ti8
68 - 70 11 GS - 70
71 - 72
73 - 75
70 - 70¾ 70 - 741,i
J own Cent.- h t, gold .. ~ 80¾- 84
80¾- 82¾ 82 - 82½ 82 - 86
8!½- 87
81½- 8;}¼ 82¾- 83
80½- 85
8-!¼- 86¾ 86 - 86½ 85¼- 86½ 84 - 89¾
Kan. & Mich.- I 990 .. 4 73¾- 74
77 - 77
76¼- 77½ 73 - 75
73½- 7¼¼ 73½- 73.½ 70 - 71
70 - 70
75 - 7,;
73¼- 73½ .. .. - . .. . 72 - 73
Kentucky c., 19S7 ..... 4 *78¼- 82½ 81 - 82
81 - 82¼ 81 - 82¼ 81¾- 82
81 - 81¾ *78 - so
79 - 80¾ 79¾- 81¼ 80 - 80¾ 79!l-.{- 81
so - 85½
Klna:s Co. El.-lst, A.~ 99¾-100¾ 98½-100¼ 98 - 98 97½-100 100 -100½ 100 -100½ 97½ 98h .... 9ti - 9:;
97 - 98
98 -100½ 99¼-100½
Fulton.1<.:l.,lst, 1ruar.~ 96 - 95
.... - .... 90 - 93 .... - .... n2 - 92
90 - no
Lael.Gas, St.L.-lst, g.5 78 - 82½ 80 - 81¾ 77 - 79
77:l-.{- 80 *75 - 77¾ 71!,<j- 75
71 - 74h 72 - 75
76 - 7'>
77~j- 80
77½- 80
78 - 82¾
Lake Erie & w.-lst .. ~ *105½-09'¼ 109 -109¾ 108½-lOD¼ 108½-109¼ 108 -109¾ 107)4-108 *105¼•1(){.i 105 -106¼ 106¼-lO'iJ.f 107 -107½1107 -108 108½-109¾
r,ake Shore & M. S o.I
I
CJ.Pains.&Asb .... _ .7 lOu¼-107 108½-108½108 -108 104 -104' .... - . .. 103½-103½ .... - ·--- 10-1 -104 102 -102 102½-103 ....
. ..
i Buff. &E1'ie-New .... ')' .-110 -116 115½-116½ 116 -116½ 112½-112½ .. . - ... 113,½-lH 1114 -114
..
.. .. lll¾-113¾ 113!,4-113¼ 114½-114½
Det. Mon . & T oi. ..... 7' .... - ........ - . , ...... - . . 127½-127½ 127~-127¾ .. .. - .... 127½-127),<j .... - .... 123½-12J½ 12 -128 127 - 127 128½-129
Dividend .... ····-·······' 1171/,.118 117 -117¼ 118 -118 115 -116 lH¾-116 lH - lH;r.{ .... - ........ - .... llG -117 1,6113 -lH½ ll-.1½-114¾ 115¾·115½
1st con., co up .......... 1120.½-122¾ 121 -122¾ 121½-121¾ 121},-J-122 121 -121~.{ 121 - 122 118 -118 117¼-118 117½-120 110 -121 121 -121)4 .... - .. ..
1 s t con., r eg ............ '7 121 -122¼ 120¼-121½ 121 - 122 120 -122 118 -121 .... - .. .. 117½-118;!:1 lll.i½-118 118 - ll!J 116¾-118½ 118 -119½ 119 -120
~d con., coup .......... .1 123 -124 123¼-124 122 -12'.1 12'2 - 123¾ 12'.t -123 118 -121~4 118¼-119¼11U>¼-120 120 -1:.lO 121¾-122 122¾-124 121½-122¾
2 d c on ., reg .... _... -... 11Z! -124 121½-122¾ 120½-122 122 -122¼ *119¼-19½ 118 -119 118½-119
.. - .... 117)4-121 121 -122 122¾-122¼ 119¾-122
M aho n.Con l lst,'34 ~ 107!.<,-10714
1nA!I.( 108¾ 11n -110
- . ...... - ,,_. . - .. . . 105 - 10:, lOG -106
- .. . 109 -109¾
;: Coupon otf
t Ex-funded coupon.
* Ex-intere •t.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
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I
1--·
1
~~~.½~l~~~
RAi.LROAD
- - ----- --
1891-~ontinued.
- --------
BONDS.
___________
~U.ARY I l<'EBR'RY.
BONDS.
~I.ARCH.
APRIL.
MAY.
JUNE.
JULY.
AUGUST. SEPT'UJm. _OcTO.HEH.. Nov'BEU. DEC'BE R.
-
L
__
o_w_.H
__i~~ Low.II~~ Low.High Low.Rig~ Low.High Low.High Low.High Low.High Low.High ~~~High Low.High Low.High
1
Leb.V.,N.Y.- lstgu,1:,4½ .... - .. ..
Leb.V,Ter.lst,1941 .. 5 .... - ....
1,ong lsl'd-lst, 1898 .. 7' 116 -117
1st. consol, 1931. .. . . .5 110¾-113
t;:,n~~:•i.?~:~:·~.: .~~. ~~~
=
103½-104½ 103¾-104 103%-104
. ... - .... . . . . - .. ~ .... - ....
116 -11e 117½ -117½ 117½ -118¼
113¾-lU 115.½-115½ *114¾-115
.~~.¼=
. .. . - .... 102¾-103}.J! 100½-100},i 101 -101
101 -101
100 -101
100½-101¾ 101 -102½
... . - ..... . .. - ........ - ........ - .... . ... - . . . . .... - ... . ... - .... 106 -106¾
. .. . - . . .. 114 - lH
115 -115½ 114 -115
114 -114½ 114¼-ll-!½ 117 -117
111 -112 .... - .... 116 -116
117 -117¾ 114 -114 ...• - .• ..
115 -115
.. . - .... 111 -115 I
~~ .. ~~~~= ~~~ -~~ = ~~~ .~~.¾= ~~~ .~ = ~~ . . .~~½= ~~~.~~=~~..I.~-~ = ~~.. 1~~¼=1:~ .~~.~ ~~ .~~. = ~~
2d, incoo1e.............. . . . . - . . . . . . . - . . . . . . .. - . . . . . . . . - . . . . . . . - . . . . . . . . - . . . . . . . - . . . . . . . . - . . . . .,., - 35 . . . . - • . . . . . • • - . . • . • . • • - .. ..
L.Ev.&St,L,•Con.lst5 86 • 88
86 - 86¼ 85½- 86½ 8::i¾- 87
86 - 87
85 - SU
8:3 - 83½ 83 - 83
82 - 3
83 - 8-!
83 - 8-!
83 - 85
Louisville &Nashv.Consoltdated .......... 7 113 -114½ 114 - Ui¾ 113½-115¾ *111½ -12½ 111)4-111¾ 110¾ -111¼ 111)4-112¾ 112½-112¾ 110 -110 lll½-111½ ll2½-113 113)4-114½
Ceciliau Bi·auch ...... 7 103 -105 104'¼-lOi'¼ 101 -101 103½-103½ 104 -104 10:1_½-104 .... - ........ - .... 102 -102 102½-102¾ .... - ... 109 -109
N. 0, & Mob-lst ..... 6 114 -116 116, -118 115.½-117 116½-117 116 - 117¼ 116 -117½ 113¾-113¾ .... - .... 116 -117 117½-llS 118 -118¾ 1191}.(-121½
2d .... .................. . 6 .... - .... 107 -108 106 -107 . . .. - .... 111½-111½ 112 -112 . ... - .... 105¾;-106 .... - ..•. 108 -108 .... - .... 113 -115
E, H, & Nasl1,-lst ... 6 112½-112½ 112½-112½ lll½-112 113 -113¼ 113 -113 *111-111 112½-112½ .... - .... 112%-113 113¾-113¾ 113½-113½ 111 -111
General mol't . ....... .. 6 113½-113½ 113 -113 113 -114 114)4-114)4115 -117 112)4-114½ 112 -113)4112½-112¾ 112 -112¾ 113¾-115½ 115½-116 113%-114¾
Pensacola Div ........ ti .... - ........ - . .. . 106½-106½ .... - .. ...... - ........ - .... 106'¼-106'¼ .... - . ..... . - ........ - .... ... - .... 107 -107
i-;t, Louis Div., 1st ... 6 .... - .... .... - ....... - ... . . ... - .... 115 -115 . . . . - ........ - .... 113 -113 •... - ...
. . - .... 117 -117
.. - .. ..
~d, 1980 . .......... . . . 3 .... - . . ...... · ..... . .. - ..... .. . - .... 65 - 65
63 - 63 ... . - . .. . 60 - 60
60 - 62½ . ... - . ...... - ........ - .. ..
Nash. & Decatur...... 7 114 -115 116 -116 ... . - ... . .... - ........ - ........ - ........ - .... 111 -111 111¼-111¼ 112½-112½ 113¼-113½ 114 -116
Ten-Fo1·tv, 1924 .. ... 6 .... - . . . . . . - .... 102½ 104½ ... - .. . .... - . . . .
- .....•.. - ........ - ........ ...... - ........ - ...... • • - • •..
Pensac. & Atl,-lst .. 6 103¾-104½ 101½-102¾ 103¾-10-! 102½-103 100 -100 100 -100½ 101 -102¼ 101 -101 102 -102½ 103 -107 106½-107 106½-108
~0-yr. gold, 1931 .... 5 106 -106 106½-106½
101½-102½ 100 -102½ 102½-102¾ 102)4-102'¼ 103½-103½ 104 -104 100¾-100¼ 101 -101
1
Unified, gold, l940 .. 4- .... - .... 85 - 85¼ 81½- 85½ 79½- 81½ 78¾- 80
77 - 77½ 76'¼- 77½ 77½- 79½ 79½- 80)4 79½- 807,( 80 - 82½
Col. n•ul!lt, g., 1931 ... 5 101 =10·3··· .· 1i cJ -103½ 102 -103 102½-103
99 - 99½ 98 - 99¼ 99½-100 100 -100 101 -101 .... - .... 98½- 98½ 99½-102
No.sh.Fl,&S.,lst,gn./> . .
99 - 99
97¾- 99
96 - 99 .... - ....... - ........ - .... 96 - 98½ .... - .... 99½· 99½ 99½-101¾
98 - 99
Lou, New Alb. & Chic.1st............ . . .. .... .. 6 *106 -111 102 -109½ 101 -102 10991i-109¾ 106 -108¾ 107 -109 *107 -107 106 -106 108 -112 110 -112 107¾-110 108 -113
Con., gold, 1916 ...... ti Si¾- 91½ 85 - 95
8-! - 97 ~2¼- 98
93 - 95
92½- 93¾' 90¼- 93½ 89¾- 97
93 - 97½ *92 - 95
93¾-100
99 -101
3
88¾
L:::s~r:.lo:f:.~~~~:~ .85¾= 88¾1·88¾=
L.St,L.&T.-lst,g.'17'.6 78 - 88
83 - 86
:::~=-~~~~G-;,f:.~::
1
86 =
= ::
:
=l~~½ :~ = :
81 - 81½, 81 - 85½ 82 - Si¾ . . . - ...
87¼ ::
86 = 86 ... 86 = 86 .. ·s·1· = 86 .. ·as = 85 .. ·ss = 85½ .85·½= 85;~
80 - 80
~.~ ~~
65 - 79
78¼- 82¾ 81¾- 85½ 81½- 84
.~~ ~ ~~ ~~
83 - 87¼
~01,½:102 .. io2 -103½ io3%=10;/4 io3 :1w .. io3¾=103¾ ioi :1oi ...
=
.. :::: = ::::
= •.
= .. *: = :½ :
~1~:¾
Men•opolitan El,-lst .. 6 *111%-13½ 113)4-115 114- 115 lH¼-115 113 -115 113 -115½ 111:)4-112¾ 112½·113 112¼-113 113 -114 113 -115 115 -116¾
2d, 1899 .. . ... ·······-··6 10! -105½ 104 -105¾ 106½-107 107½-108 104 -105½ 103 -104 103¾-104 104 -105 104½-105½ 106 -107 103¼-104¾ 104%-105¾
Mexican CentralP1·io1·ity, 1939 . .... ... 5 .... - .... 107 -107 .... - .. .. .... - .. ...... - ........ - .... . .. - ... . ... - .... . ... - ........ - .... · · .. - · ··· .... - ••·
Consol,, 1911 .......... 4- .... - ........ - ... . 73 - 73 .... - .... . ... - ..... .. . - . ... 70¾- 70¾ 72 - 72½ .... - ........ - . ... 72)4- 72)4 .... - .. .
1st, cons, Inc., 1939.4 .... - ........ - ........ - ........ - ....... . - ...... .. - ........ - .. . . 40 - 42 .... - ........ - ........ - ....... • - .. •
Mexican Nationallst, 19~1 ... ............ . 6 .... - ........ - ........ - ........ - .... 98 - 98 .... - ........ - ........ - . . . . ... - ........ - ... 100 -100 .... - .. .
2dincome"A" ........ 6 .... - ........ - ........ - .... 42-42
40-40
38-38 .... - .... 39-39
42-!l5½ .... - ........ - .... il-42¾
2d inco111e, "B." ... 6
- ....... - ........ - ....... . - ........ - ........ - ........ - ....
- .... 12 - 13½ ..• - ........ - ........ - .. .
Mich. Cent-lst,consol. 7 122 -123½ 122½-123½ 122 -123½ 123 -124½ 119½-120¾ 118 -119½ 118¾-119½ 119 -120 120 -120½ 122 -123 119½-120 120½-121¾
1st, consol. .. . .. . ..... .. 5 107¾-107¾ 108 -108 107 -107 .... - ........ - •... 107½-107½ 107 -107½ ...• - .... 108 -108 108½·108½ *106 -106 106 -106
Coupon, 1931 .......... 5 113½-113½ 110 -112½ . . - .... .. - ........ - .... 107%-112 111½-111½ .... - .... 111½-lU½ lll½-111¾ .... - ........ - •··
Registe1•ed, 1931 ..... 5 111½-114 110¼-110)41(18 -110 .... - ... . 106 -106 1071,-2-lll 111 -112½ 110 -111¼ 110½-110½ 11(%-111 109 -112 .... - ...
Mo1•tgaice, 194U ...... 4- 100 -100 .... - ....... - ........ - .... 12 - 72 .... - .. .. .... - . . ...... - .... 100 -100
... - ........ - ........ - .. .
Jack . L,& !S., 1891 .. 6 .... - . .. . . .. - .. . ..... - ........ - ........ - ........ - ........ - .... 102¾-103 .... - ........ - .•. • • • - • .. • .... - .. .
MU. Lake Sb, & West.1st ... . ............... .. 6 118¾-122½ 122½-123¾ 123½-126 126 -127 119½-123 117 -120 117 -117 118 -123 122½-123¼ 122½-123½ 119½-120½ 119 -123
Conv. deb, 1907' ...... :i 99 - 99 .... - ........ - ... . .... - ........ - .... 99¾- 99¾ 100 -100
97 - 97 .... - ........ - .. 99 - 99 105¼·105~1i
Ext, & Imp,, s. f . .. ... 5 98 -101¾ 99)4-100)4 98¾- 99½ 98.½- 99¾ 98½- 99
98½- 99¼ 98½- 99¾ 97 - 98
97¾-100¼ 99½-100
99 - 99¾ 99½-106
Income ... ............. .. 6 104)4-104½ . . . . - .. .. . .. . - . . . . . .. . - . . .. . • .. - .. .. . . . . - . . . . . ... - •• .. .. . . _ . .. . . .. . - • . . . . • . - • .. . . . .. - .... 110 -110
Michigan Div,, lst ... 6 .... - .... 113 -114¾ 114 -116½ 118 -119¼ .... - ........ - . . . . .•. - ........ - .... 116 -116 .... 116 -116 116¼-120½
Ashland Div,, 1st .... 6 .... - .... 114 -117½ *114 -114 116 -116 .... - .. . . . .. - ........ - ..•. 120 -120 .... - •...•... .. 118 -118 120 -122¾
MU. & No,-lst, 1910 .6 107½-109 109 -112 . . .. - .... 110 -112 111½-112 109 -109 109 -109½ 108½-109½ 109½-109½ 109½-110 llO!J::(-112 lll½-112½
1st, on exten., 1913 .. 6 107 -109 109,½- 111 110¼-110¾ 110 -112 lll½-112 110 -110 108½-108½ 108½-110 110 -110 109 -110½ 111 -112½ 110 -110
Minn. & St. L.-lst ... 1103 -105 106 -106 105½-106½ 107 - 107 105½-106 103)4-104 .... - .... 105 -107 108½-108½ 109)4-lv9)4 110 -110 .... - ...
Iowa Extension ...... 1 92 - 94¼ 94 - 96
96 -100 101 -102 .... - •... 95 - 95
95)4- 97
95 - 95
98 -104 105 -105 105 -110)4 112½-116
2d mort., 1891 ........ 7 50 - 53½ 51 - 55
50 - 53½ 50 - 50 .... - . . ...... - ........ - .... 47½- 47½ 55 - 57½ 57½- 57½ 59 - 66½ 65 - 70
Soutbw'st.Ext,-lst.7 73 - 73
80 - 80
85 - 95¼ 95¾- 97½ ..•. - ........ - ........ - ........ - .... 95 - 95 .... - .... ···• - .... ··· - ...
Pacific Ext., 1st ....... 6 .... - . . .. 93 - 93
94½· 94¾ ... - ........ - ........ - ........ - ........ - .... 95 - 95 .... - .... 95 - 95 .... - .. .
l1np, & equip., 1922.6 .... - . . . 59 - 59
- ........ - ........ - ........ - ........ - ........ - ........ - .. . . ... - .. . . 59 - 63
65 - 70
Minn.S.S.lll&A,lst g,4
- ........ - .... 1... . - •••••••• - •••••••• - .... 89¾- 89:14 .... - ........ - ....
- ........ - ..•. ··•· - ........ - ...
Mo. Pac,-lst consol .. . 6 105)4-108 108 - 110¼ 109 -111 110¾-110¾ 103 -104¾ 104½-107¼ 106 -107¾ 106½-108 106 -108 106 -108 103 -105 102 -106¾
3d, 1906 . . ............ 1 115 -115 115 -115 \115 -115 116 -116 112 -112½ .... - .... 105 -110¾ ... - .. . .... - .... 112 -112 110¼-112 112 =113
T1·ust gold, 1917 ..... 5 95 - 95½ 92 - 95½ 93 - 94
92½- 92½ 92¾· 92½ 92 - 92
. . - ........ - ... 90 - 90 .... - .... •· • - .... ....
• ..
1st, col., gold, 19-l0.ii .... - ........ - ........ - .... 83 - 8!
80 - 83½ 79 - so ,. 80 - 80¾ 77¾- 81
79 - 82
78 - 79¾ 78¼- 79½ 78½- 82½
Pac, of lllo.-lst, ext .. 4 99¼-100
97 - 98
07½ - 98
96 - 97¾ 97 - 97
9-! - 94
95¼- 96
96 - 96
97½- 98
96 - 97
96 - 96½ 97 - 98¼
2d, 1S91 t ....... ...... 1 99½-100 100¾-100¾ 101¼-102 101¾-102¼ 102¾-103¼ 103 -103¾ 101¾-101¾ 101¾-101¾ 102¼-103 102½-103¼ 103 -103¾ 103¾-105
Mo, Kansas & Texas-
lst, gold, 1990.... .. 4 74¾- 78¾ 77 - 79¼ 76 - 77½ 76 - 78)4 76½- 78¾ 75½- 76½ 74¾- 76¾ 74'¼- 78½ 77 - 78¾ 77 - 79½ 78 - 80 *77½- 79¾
2d, incom-,, 1990 .. ... 4 36¾- 44½ 40½- M
38½- 40½ 38¾- 43¼ 39 - 44¼ 39 - 41!,t 36 - 397A! 86 - 44,
42 - 48
43 - 46¾ 43 - 46
45½- 4'7¼
K. C, & P ., 1st, 1990.4 . . . . - . . . . 72½- 74¾ 69½- 73
70 - 74
. . - . . . . 74 - 74
73 - 73
72½- 73½ 70 - 71X? 70 - 72½ 72 - 72½ 72 - 75½
Do.I.& W., lst,1940.a .... - ........ - ....... - ........ - ... . ... ...... - ........ - ........ - ........ - .... 87 - 87
88½- 88½ .... - ... .
Mobile & Ohio-New .. 6 112 -114¾ 115 -115½ 114½-115 115½-117½ 115½-116½ 112 -112¾ 112 -112)4112)4-114¼ 112½-114 114 -114 116 -117½ 115 -116
1st, exten., 192'7 ...... 6 109 -109 .... - . . . . . . .... - .. . . .. . - ........ - ........ - .... 106 -106 ..•. - .... • ... - .... · · · · - .... · · · · - .. · ·
Gen. M., 1938 ......... 4 63 - 66½ 66½- 70 *65¾- 68
65 - 67
63 - 66½ 64 - 66¾ 62 - 66
62½- 68
64½- 67
65½- 69½ 66¼- 69 06)4- 68¾
!St,L.&Co.1ro-Gual'.4 .... - .... 81 - 81 .. . . - ........ - .... 82½- 82½ .... ···· - ....
.... - • • ... - ···· .... - ........ - ... .
Mo1·gan'sL.&T.-lst .. ti 108 -110½ 112¾-113 112½-112½ .... .. 115 -115 .... - .... 106¼-108½ ioS½-108½
- .:: . . . . - ........ - ... 111 -111
ll'lt, 1918 ..... .......... 7 120 -125¼ 126½-167½ .... - ........ - ........ - ........ - ........ - .... 119 -121 .... 115½-116¼ 120 -120 .... - ... .
Mutual Un. T,·-8, F .. 6 102 -10!½ 104 - 105¼ lOi -105 .. . - .... 100 -103¼ 101 -101 .... - ........ - .... 103 -103 107½-107½ 104½-105 104 -105½
Nnshv,C.& St,L.-lst. ,,.- 125 -126½ 126 - 126 125 -126 126¾-126¾ 126 -127 126 -127½ 124 -124½ .... - .... 124½-125 124½-126 125¾-126 128 -132½
2d, 1901 ...... ........ .. 6 .... - ........ - ....... . - ........ - . . . 107½-107½ .... - . ... .. - .... 108 -108 .... - ........ - ... . · · · · - .... 111½-111½
Consol. g,, 1928 ... .. . :i 105¼-106¾ 106 -106 106½-107¼ 104%-105¼ 105 -107½ 103 -104¾ 104¾-104¾ 104½-104¼ 105½-106 102½-104½ 103 -104¾ 102½-105
Nat, Starch llJfg.-lst .6 ... - ........ - ........ - ........ - ........ - ........ - ........ - .... 95 - 95
95 - 97
95 -100
95 - 97
97 -100¾
N. J. South,-1899.,ru.ti .... - .. . . .. . - .. . . . .. - ........ - ........ - ... . .... 104 -104 .... - .... .... - ........ - .... • • • • - • ..... • • - .. · •
New Yori, Ccuu-alExtension . ......... ... 5 101¾-102 101¾-102¾ 102½-103)41027,k103¼ 100¾-101)4100¾ ·101)4101)4-101¾ 101½-102 101¾-102¼ 102¼-103 100½-101)4101¼-102
N. Y, C.& H,-lst,cp .. '7 127 -127¾ 126 -127¾ 126 -126'¼ 126 - 127¼ 126 -126¾ 125½-126¾ *123½-24½ 123)4-124½ 123¾-124½ 123¼-125½ 125 -126½ 126 -127
1st, 1•eg .......... ..... .1127¾-127¾ 125 -125 124½-125 125½-126 125½-125½ 125 -125 *122-123½ .... - .... 123½-123½ 124 -124 .... - .... 126 -126
Deb., 1884-1904 ... 5 109 -110 109¾-110 106 -106 107 -108 105½-107½ 104½-105 106 -107 103½-108 104)4-105½ 104 -105¾ 106 -107 106¾-108¾
Registe1·ed ..... . .. . a .... - .... 109 -10\µ/2 . ... - .... 106 -106 106½-106¾ .... - ... 104½-104¼ .... - .... 105 -105 104 -105¾ 106 -106½ 107 -107
Deb.reg,,'89-1904.5 .... - .... . ... - .... 108¼-109 106 -107
... - ..... .. - ........ - ........ - . ....... - .... 104 -104½ lOl½-102 ··· • - .. ..
Deb,, a-,, '90-190.>.4- 98¾-100½ 98¾-100¼ 100 -100 100 -100 100½-100½ 97¾- 98¼ 98 - 98½ 98½- 98¾ 97½- 98
09½-101 ... · - .... *99¾-100
Registered . ........ 4 . . .. - ........ - ........ - .... . ... - ........ - ... . .... - . . . ... - ........ - ........ - .. . . 98 - 98 • .. • - • .. • • .. • - .. ..
Harlem-1st, coup ... . 1122 -122 122 -124 122 -123 122 -123 119½-120 118½-119~ llS¾-119½ 120 -120 119½-119½ 121 -121 119½·124 121 -121
1st, reg . .. ............ 1
- .... 121½-122¼ 122½-123 122 -122 118½-119½ . . . - .. . 119 -119 120 -120 119½-119½ . . . . - .... *116)4-19½ · ·.. - .. ..
N.J.Junc, 1st, gual'.4100 -100 100 -102 .... - ........ - ... 103 -103
... - .. . ... - ........ - ........ - .... ···· - •·•· ···· - .... •·•· - ····
West Shol'e, guai· .. 4 *100 -103 102¼-102¾ 101¾-102¾,102)4-103 102)4-102¾ 101¾-102¾ 99½-100)4 99¾-101¼ 101 -103 100¼-102½ 101%-102¾ 102)4-104
Registe1·ed ............ 4 100¼-102½ 101¾-102¼ 101 -102)4 101½-102½ 101,4-102½ *99½-102¾ 99½-100¼ 99¾-100% 100¾-102¼ 101¼-102¼ 101½-102¼ *101W03½
N.Y.Chic.&ist.L,-lst.4 91 - 95¼ 93½- 95¼ 93½- 94¼ $92 - 93
89¾- 92!J;! 89¾· 90½ 89 - 92
91 - 92
92¼- 95¾ 92½- 94¼ 93½- 94¼ 94 - 96
Rea-lstered..... . . . . . .4 .. . . - . .. . .. .. - . . . . . - .... I.... - . . . .
. . .. - . . . . .. . . - . .. . .. . . - . . .. 92½- 92% 92!J;!- 94¾ 93 - 93 • •.. - • • •.
t Extended, July 1, at 5 per cent
• Ex-interest
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
80
BAJLRO.A.D BONJJS.
1891-~ontinoed.
JANUARY FEBR'RY.
BONDS.
MARCH.
APRIL.
MAY.
JUNE.
JULY.
AUGUST. SEPT'BER. OCTOBER. NOV'BER.
DEC'BER.
- - - - - - - - - · - Low.High Low.High Low.High Low.High Low.High Low.Iliirh Low.High Low.High Low.High Low.Higl1 Low.High Low.High
N. Y. Elevated-lst . .... 7 111 -112½ 112 -112¼ 109¼-112¾ 112¼-115 lU¼-114¾ 113¾-lH¾ 109 -112¼ 111 -112 111 -113 112 -113 113 -113½ 112½-114¼
N.Y.&N.E.-l8t,190/5.7 .... - . . . . 119 -119 .... N.Y.N.H.&H.- lst,·l 'g.4 105 -105
- ........ - . ... 106 -106 108 -108 .... - ... 106 -106
N.Y. & North.-lst, g.~ .... - .... 100 -106 107 -107 105 -105
- .... 106 -106¾ 107½-107½1.... - .... 105)4-105)4
2d, gold, 192'7 ......... 4 46¼- 48 4.8 .. 51
49¾- 54¼ 53 - 56
52 - 54¾ 50 - 51
50 - 50
49½- 4.9½ 50¼- 52½ ' 50¾- 53¼ 52½- 55
59 . 60¾
N.Y.On.&W.-lst,g .. 6111¾-112½112¼-115 *110-111 111 -112 111 -112 110½-112½112½-lU 113½-114 "'111-111½111 -lll½lll½-112¼ll2'%-113¾
Consol. 1st, 1939 ... 15 92¾- 94½ 93½- 97¼ 95 .. 96¾ 95➔,1- 97¾ 94¼- 97 *90 - 92¼ 90½- 94½ 92 - 93½ 93 - 98
97 - 98
97½-100¼ 98 -100
N. Y .& Pe1·.C.&I., 1st. 6 80½ · 81¾ 82½- oo
89 .. 90
89¾- 92~ *89¼- 9014 90 - 91
91 - 92¾ 91½- 93~.i 93¾- 91 1 93¼- 9,1
90½- 92
92¼- 93¼
N. Y. l!S.&W.-Refnml..15 94 - 97¾ 97%-100¾ 99 -100
99¾-100
98 - 99¾ 97½- 99
95½- 98
98½-101¼ 99¾-101
99¾-101¼ 99¾-101)4101:)4-104½
2d mort., 1937 . .. . 4½ 74' - 75½ 74¾- 75¼ .... 75¼- 76¼ 75 - 75
. ....... - .. .. 68½- 76¼ 75 - 77 1 77 - 77
7!¾- 78¼ 78¾- 79¾
Gen., a-old, 1940 .... .. ~ .... 80¾- 81
82 - 82
81¾- 82¼ .... - ........ - ..... . . - .... 79½- 81% 80 - 83
83 - 83¼ .... · .. .. 83 - 84¾
Midl'd of N. J., lst ... 6112 -114¼ 114 -115½ 114½-115 112½-114 111½-114½ .... - .... 113 -113 113 -113 113½-116 113 -11:l½ 113 -115½ 115¾-117½
Nort. & West.-Gen .... 6 .... .. . .. 119 -119 121 -121
- .... 119½-119½ 120 -120 .... - .... ,121 - 121 1117 -117¾ 11$¾-118¾
100 yr. mol'l., 1990./5 93 - 95½ 93 -100½ 94'4;- 95
9~¾ -95¼ .... 88 - W½ 90½- 93
92 - 92
91¾- 92
91½- 91½ 92½- 92½ 94¼- 95)4
New River-1st .. . .... 6 112¾-llll ........ .. 113 -113 110 -110 111 -116 lH -116 .... ...... - ........ - ........ - ........ - .... 113 -113
Clinch Vo.I., 1st& eq.~ 05 - 98
98 -102 •97 -100!}.! .... - .... 96 - 96
96 - 96
95 - 96
- . .. . 92 - 96
96 - 96
95 - 97
957-1- 96½
No1·thern PacificI
Gen. 1st, land irro.nt .. 6 *113 -116½ 115¼-116¾ 115¼-116¾ 116½-117¼ 115¼-117¼ 116)4-116¾ "'13,4-115½ lH¼-115)4 115 -1J6¼ 1'5~11"½ 116 -117¼ 117 -118¼
Registered ........... 6 112¼-115¾ 115¾-116¼ 116 -116¼ 116¼-117 115 -117 116~-1161,( 113 -11411:{ 115 -115 lH -115¾ 1'5½?-11"¾ 1111¾-117 *114-117½
Gen., l. a-r., 2d, 193:J 6 110¼ ·l 13½ 113)4-114 113 -114¼ 111 -111¾ 109 -111½ 110~-...11 74 112 -113½ 112 -113½ 112½-113¼ 110½-110½ 110¾-111 111 -112½
G!:':.~~':i":/'::i:10'a'~::
Rea-istered ..........
ici1½=1io~ iio¼=li3¼ i09¾=1i{ .. iio =111¼ 109½-110½ 106%-108
106½-107½ 101 =107½ io11/4~100· · 1· ios¼=1io .. io9 =1io ..
~~: =~~~
6 106 -108¼ 109½-11084 .... - •.••.... - . .. ..... - . ....... - ........ - .... · · ··
Consol., 1989 .... .. . .. /5 82 - 85¾ 83¾- 85½ 82½- 841,,( SO¾- 84½ 81 · 84
77~- 79¾ 76¼- 79¾ 7G½- 83½ 82)4- fil¾ ' 81¾- 83½ 81)4- 83 *77 - 81
Registered ........... :, .... - .. .. ... . - .... 83¼- 83¼ .••• - .... 81¼- 81½ ....
- .... 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
::.v;:e_:.~c;~•::t.-.6 ~~: =~~:½
ii6½=1i7¼
ll6
-116
117½-117¾ 117½-117½ .... -
- .... 115½-115½ ...... :::: ii6½-li7½
~~!~~~~~ ii.7¾=1is"
Registered .. .......... ti .... - ... . 116 -116
- .... 115½-115½
James Riv. V., 1936.ti ....
.. .. 105 -105 105½-105½ .... Hel.&RedMt., 1st . . 6 ....
. ... 102 -192
97½- 99
97 - 117
99 - 99
90 - 99 100 -100 100 -100
Spokane & Po.I. 8 • t:.6
.... 103 -104¼ 103 -104 102 -104 100 -101 100 -100 ....
. ... 100 -100 103 -103 110! -lM .... - ........ Dul. & Man., 1st ..... 6 104 -105½ 1053,(-106 105 -105¼ 106 -106 105!}.!-106¼ 106¼-106¾ .... - .... 102 -102 105½-105½ 106½-106½ .... - .. .. 104 -104
Do. Dak. Div., lst.6 103½-104½ 103 -105¼ 105¼-105½ 105 -105 105 -105 .... - .... 101½-103 .... 105 -105 .105 -105 10¼½-105
No. Po.c.Ter.Co.,lst.6 105 -108½ 107 -108~ 108 -110 109½-110 .... - .... 106 -106 104 -106 105 -105
- .... 107½-108 107½-108 l07½-108¾
Coe. de' Al., Gn.lst.6 106 -106 105¾-106
- .... 104½-104½ ......... . 101½-101½ .. . .. .. . . .. - .... 103)4-104 102 -102
1st, irold, 1916 .. ... ... 6 110 -110½ 112 -112 110 -110¼ .... - ... 108½-108½ . ...
- ...... . . - .. .. . .. - ... .
N. P. & Mon., 1st, a-.. 6 104 -107½ 107 -109 104 -105½ 103 -105¾ 103 -104 103¾-104 103 -10.1 103 -105 101 -102 101½-102¾ 1102¾·103 101½-103)4
Chic. & No. Pac., 1st ...... ...... 81)4- 84¼ 78½- 81
78½- 84
79¾- 81
76½- 80½ 76½- 83
82 - 8-!
78½- 80
77 - 7$¾ 77 - 79%
Seo.. L.S .& E., 1st ... 6 .... . lOl!J:(-103 100¼ -101¾ 9fl - 101
98½- 99¾ 98 - 98¾ 95 - 95¾ 95¾- 99½ 98 - 98% 96½- 98
9G - 97
Ohio Ind. & Western.Ind. B. & W., 1st,pf.'7 115 -115
Ohio & Misslssippl~~:10~
..
-113½
Consol. sink. fund .... , ... - .... 111%-112 111 :1~~-- ::: :::: :::½:::::
Consol., 1898 .......... 7 111)4-111¾ lll!}.!-111¾ 111 -111 111 -111½ 111¼-112 110½-110¼ 107 -108½ 108 -108¾ 109 -109 ,110 -110½ 111 -111¼ 111 -113¼
...... 115½-115½ 114¾-116 .......... 108 -113 112 -115 115 -116 112½·112½ 114 -114 117 -120
2d, consol., 1911 ..... , 119 -119 ...• .. . .. . 108¾-109 10$¾-110
1st, Sprlngf. Dlv .... .. '7 .... · ........ .
.. .............. 98 - 98
Ohio Rlver-lst .... . . ... fi .... - ....... . - ....... .
. ... . ..
Gene1·al, 193'7 ....... . ~ .... - ........ - ...... ..
.. 87 - 87
Ohio Southe1·n-1st.... 6 103½-106 107½-107¾ 107 -110 108 -108½ 107 -108 102½-103 101½-103 . . . . .. . ... 104'¼-104½ 107¼-llO 110 -110½ 107 -107¾
57 - 59
59 - 59 . . . . - . . . 58 - 59
58½- 59¾ 59½- 62¾ *58½- 60
Gen., gold, 1921. .. .. 4 55 - 60
59½- 64¾
60 - 63
50 - 62¼ 58½- 60
57 .. 58
58 - 58
50 ~ 52
50 - 50
50 - 51
.. . . . . 55 - 55
56 - 56
Omo.ha& St. L.-lst .. 4- 53 - f',½ 57 - 57½ 57 .. 58
..
..
95 -95
Or. & C.-1st g.,19~7.~ .... - ........ - .. .... ..
01·. R'y. & No.v.-lst ... 6 107½-109 107½-109¼ 108 -109 108 -109 108½-110 107!!-!-109 105½-106½ 106½-107 105 -100 .. 100½-107. · io6½-108 .. 109¾-114
.......... - .... 90 -94¾ 92 ... 93
Consol., 192/5 .. .. ... .. J 92 - 94 .... - .... .. ...... .. 92½- 92½ 92 - 92¼ 90 - 90
92
85 - 85
Orea-. Imp. Co.-lst .... 6 90 - 99
99 -103½ *99½-100¾ 100 -100½ 99¾-102¾ 96 -100
98 - 99¾ 98¾- 99¾ 99 -100)4 99¾-102 100¾-102¼ • 100-102½
Consol., gold, 1939 .. ~ ... . - .... 71 - 74 67 - 71½ *66 .. 70
65½- 69¾ 64½- 67
58 - 66
61 - 66
65 - 68 *82½- 65¾ 63 - 64¾' 63½- 71
.. .. .. 102½-102½ . . .. - .... 100½-101½
Po.no.mo. S. F.-Sub . .. . 6 .... - ..... ... - ....... - ........ - ........ Pennsylvania Co.1st, coupon ....... .... 43,t; 105),fr-106 105¼-106 104½-105¾ 104½-105¾ 104' -105¾ 104½-105 102 -104 102 -104½ 104¾-105½ 104%-105½ 106½-108 l07½-l08J4
Reirlstered ......... 4¼ 104 -105¾ .... ..
.. .... 102¼-102)4101½-102 1017-(-102½ 103½-104 I.......... lOG -100 106 - 108
Pitts.Ft. W.&C.-lst.-, 140¾-140¾ ... . - .... 141 -141 141 -141
.. .... 141 -141)4137½-138½ 137%-139½ 130 -139 139 -140 139 -139¾ 140½-l40½
2d., 1912 ... ... ... .. 7 ... .. . .. . . . . . .. .... 133 -133 132¾-132¾ .... - .... 138 -138 . . . . - ........ - ....... .
3d., 1912 .. ........... 7 .... - .... 135 -135 .... ..
- ........ - ........ - .... 128 -12
128 -128 .... - ........ - .... 131 -131
Clev.& P.-Cons.s.fd.? .. .. - .... 122 -122¼ 124 -124 122½-123 118 -119½ 118 -118 .... - - ... 119½-120½,121 -121 120½-122 120 -120¼ 1:W¾-120¾
4th, 1892 . . . ....... .. .6 .... - . . . 101 -101¾ .. .. ...... 102),fr-102¼ 102¾-102¾ 103 -103 100¾-100%1100¾-100% .... - .... 101%-101¾ .. ·· St. L.V.& T. H.-1st., 111¾-112
..... · ··· 1111¼-lll½ 111½-112½ 109 -111 110¾-111¼ 108½-109½ 109 -110 109½-111 110½-111% 112 -112½ 114 -114
St.L.V.&T.B.,2d,'98 .... - .... 109¾-109¼ .......... .......... 105 -105 105 -105½ 106¾-106% 107¾-107¼ 103¾-103¾ . .. - . ... · ... .
2d, gun.1·., 1898 ... .. 7 98 - v8 .................. .. 109¾-109¾ ... - .... 107½-107½ .... - .... 108¾-108¾ .... - .... .. .. - .... , .. ..
People11'G&rC.,Chi.2<16 95½- 95¼ ......... 96 .. 96 .............. - ........ - ....... - ·--• 1... - ........ - .... 92 - !13
9,1 - 94
95 - 99
Peo. Dec.&Evau.-lst.6 100 -101 ....... . .. 103¾-105 104 -104 109¼-109¼ .............. - .... 106 -106 106 -106 .... ..
106 -106½ 108 -108
2d, 1926 .. .. ..... . ..... ~ 66 - 70
70 .. 70¼ 70 .. 72½ 71¾- 74¾ 72½- 72½ ............ .. - . • . . 72 .. 72
72½- 73½ 73 .. 74
69 - 60½ 68 - 70¼
Evansv. Div., 1st ..... 6 95 -101¼ 103 -103
-100
99½-102 101 -102 103 -103 102½-103 102½-102½ .. .. ...... 100¼- 101½ 102 -102 105 -105
Peolia&.Eas.,lstcon.4 75½- 79:1( 78½- 80
77 .. 78½ 75 .. 76
74¼- 76:1( 74 - 75½ 73 - 75¾ 73½- 80
78 - 81¾ 78½- 80 17 - 80
79 - 80¾
Income, 1990 ......... 4 18 - 22
20 .. 21¼ 20 .. 21¼ 20 .. 20
18 - 20
16 - 18
19 - 19
20 - 26¾ 25 - 29½ 26 - 28¾ 27½- 28
27 - 30%
Peo1·ia&Pek.Un.-lst.6 .... 110½-110¼ ... - ...... . . - .... ....
- ........ - ........ - ........ - ...... ..
2dmort., 1921 ..... 4¼ .... - .... 67 -67
67 -67
67 -67 .. .. - ........
67 -67 .... - .... 67 -67
70 -70 .... 68 -68
Phil. & Reo.d.-Gen ... 4- 78:1(- 81¼ 79¾- 82 77'¼- SO~ 79¼- 80!,( 77¼-- 79"7~ 77¾- 79
75 - 77
7¼½- 80
79½- 81¾ 79¾- 85
81¾- 83½ 83½- 8G
Reaiste1•ed . . .
. .. .1J . • • • - . . . . . • .. .. • .. . .. .. .. .. . . . . .. - .. • .
80¾- 80¾ • •.. - • •.. .. . . - ....
1st pref. Inc., 19ri8 . . :} 53 - 58
53¼- 55¼ 47½- 52
50~- 55
50 - 5~ 49½- 53¼ 48¼- 53
49 - 60¾ 60¾- 60¾ 66½- 71¼ 65¾- 70
68¾- 74¼
2d pret. inc., 1938 . ... :} 34¼- 38¼ 35¾- 36¾ 32 .. 35
84½- 38
35¾- 38~ 36 .. 37½ 34½- 36½ 32½- 41
n .. 51 47½- 52 ,17 - 51¾ ¼9½- 50
3d pref. inc., 19~S . ... ~ 27 - 30
26½- 29
25¼- 263,d 25½- 29½ 27]4- 30
25¾- 28
26 - 28
25¾- 31½ 31¾- 39¾ 35 - 38% 33¾- 38½ 35¾- 39½
3d pref. inc., conv .... ;} .. .. 32¾- 32¾ 27¼- 27½ .... 37¾- 37¾ ... .
Deferl'ed income ...... 6 .... - .... ....
.... ... .
10 - 10 .. ..
P.c.c.& St.L.-"A".4~ .................... 1.... ..
115 -115
Pitts.Cl.& Tol.-lst ... 6 .......... 107,(-107~ .... ..
I . ..
109%-110 110¼-110¼
Pitts.Pain.&F.-lst g.~ 94½- 95
95 - 95
98 .. 98
06 - 96 ....
- :::: ::::
Plttsb. & West.-lst .. 4- 75¾- 79¼ rn~- 81
78 .. 80¼ 78½- 79¾ 77½- 79
77½- 79¼ 76½- 78¼ 76 .. 79¼ 78 .. 80¼ 78½- 70
78 - 79¾ 70¾- 84½
~~~ :1~~~
~~~¼:l~~~1 ~~~~l~~~l ~~~½:l~~~ ~~:1~~ ~~~
190 -
1•99
1
I"" -
i~::::~:~~..:.c!!·.
1
~~::
~!
=1~~
1i6½-1is .. 1~is -118
117 -118
115 ...117
ii2½~1i6 .. ioo½-112
108 =1cisiA0·;½=109 .. ioo =1io .. io9¼=1io½ lio9¾;: 1i:i ..
- 95
91 - 93 . . . . - . . . . \ 9~ - 9~
- 83
81 - 81 1.... - .. · · 7a - 85
- .... 118½-119
Debenture .......... .. . . 6 101 -101¼ 101¼-101~ 103 -103 •100-100~ 100 -100 100 -100 .... - .... 95
Con. M., irold, 1936 ./5 89¾- 91¾ 87½- 90 88¾- 89
86 .. 86~ 86 - 86
80 - 85
79 - 1
78 - 81
80
Atl.& Ch., l8t, 1891'.7 .... - . .. . .. .. . .. . . . .. ..
Rich.& West Pt. Ter.Trust ..... .............. . 6 97¼-100½ *97 .. 98 97 .. 97¾ 96 .. 97
93 - 96
93 .. 95
88 - 94¼ 83 - 90
2
Con., 1st, col. t. g . . .. . /5 68¾- 73¾ 73¾- 75
68)4- 71¾ 67 .. 70
64 - 68¼ 62 .. 65¼ 53 - M
5,1 - 60½ 51
1
1
Rio Gr. Junc.-lat, ir .. /5 90 .. 90
89 .. 90 j.... .. .... .... .. .... .... ..
. _ 7·6·~1~·7·4·v.-.. ,.,,·5· ·· .7..3.V.-- 7.7.. ·1..7·G·
Rio G. W .-1st, 1939 .. 4 •74 - 75½ 75¼- 77¾ 75 - 77
70¾- 77¼ 76 - 77½ 76
74
,..,
7 -i.
Rome Wat. & Ogden.1st ............ ...... ....... , 102 - 102 102,4-102¼ 103 -103]4 .......... 103¾-103¼ 100½-100½ 100½-100½ .... - .... 101
Con., 1st, extended... ~ 105 -107 106¼-107 106½-114 •109¼-11¾ 108 -109ll,! 108 -109 108½-109 108½-109½ 110
Mt. Jos. & G'd Island. 1st. ..... ...... .... .. . .. 6 86 - 92½ 84 - 86 82¼- 85
84½- 86
84 - 85
84 .. 8-!¾ 82½- 8-!
84 - 84½ 85
~d, income .............. /5 .... - ... . 20 - 20
22¼- 23
22 - 2¼
Kan. C. & Om., 1st .. ~ 79 - 80
78¼- 73¼ . . . . ..
.. . . . . 71 .. 72¼ 69 - GO
* Ex-Interest.
·~ Under the rule; cash.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
- 87
- 59
.._ 77
S.1 - 85½ 83 - 90
83 - 92¼
53¾- 50
52 - 57½ 4'9¾- 65
70 - 78½ 7'7 - 79
78½- 80¾
-101 .... - ... 103½-103¾ .. .. 111¼ 108½ 109¾ 109½-111¼ 110 113
..
- 88
I ~-
85 - 87
-
84¼- 89
½=
= .. .• . .... _ ..... 23
. ..
24'.•• •
.
88 - 91
70
_
~~L
7Z7II
RAILiU).AiJ
.IJONDB.
Si
1891-t ontlnued.
BONDS•
JANUARY FEBR'RY.
.
MARCH.
APRIL.
MAY.
JUNE.
JULY
A UGUST. 811:PT'BKR. OCTOBER. NOV'BER. , DEC' BER.
Low.High Low.High Low . High Low.Hl11h Low.High Low.Hillh Low.High Low.Hi11h Low.High Low.High Low.Hi11:h lLow.Hlgh
- - - · - - - - · - - - - - - - -·-
8t.L.A.&T.H.-lst. .. 1110 - 110 110 -110 110 - 110¾110½-110½110
~d, pref. . . ............... '7 107 -107 104½;-105½ 105 - 105 105 -106 104
lid, income .............. , 103½·105 .:.05 -105 .... - .... 106 -106
Dividend bond1L ..... ti 50 - 52
55 - 56
Cb. St. L.& Po.d.,l111t.~ 100¼-101
- .... 100¼-102 102 -102 102
Belle. & So. 111.- lst.S ... - .... 111 -111
Bell.&Ca1·ond.- lst.ti 102½-102½ .... St. L. So., ht, guav( .... - ... . .... -
- - - - - - - - -1- - - -1
- 110 108 -108
-105 10!½-105
- .... 10! - 106
110 -110
10[,½-105½ 101- .... 101
.. . - .... 55
102 -102 102
- .... 110½-112 112
- 102
103
- 101
- 58½
-10:l
_-112
82½- 82½ . ... - · · ·
~
103
101
55
... .
1 - - - -'- - -
110 -110¼ 110¼-110¼111½-lll½
-103¾ 104 :-105½ lOG½-106 105½-106
-101 10! -104 101½-102½ 101,¼-102¼
- 55
- .... 65 - r;r,
57 - 57
- .... 102 - 102½ . .. - ... .... .
*110 -110
- .. . . I... .
I
I ... - ..
l 80½- 80¼ ····
I
2d, Income, 1931 ...
40 - 40
•.· •.· •.· •.· !·.·.·..· - •··· 65 - 65
St. Louis A1·k. & Text st, t1·ust receipts .... 6 78¼- 81½ 80¾- 82 79 - 81 81¼- 85 80½- 82¾ 78 - 78½ .... 2d, all asses. paid .. .. 6 19 - 21 19 - 20,½ 17¼- 19
17¼- 19¾ 17½- 19¾ .... St. Louis & Ii-on Mt.I
1st, 1892 ... .......... , '7 lOiH-105 101½-102 101¾-102¾ 102½-102½ 102½-103 102%-103 lOi,½i-104¼ 1100½-100½ 100½-101¼ 101)4-102 102 -102 102½-103¾
2d, 189'7 . .. .... .... ... '7 105 -107 100¾-107¾ 108¾·108¼ 108¼-108¾ 104½-105 10!½-105¼ 105 -105 104½-10G¼ l106J4-106¾ 106%-108 104 -105½ 1105}(-107
Arkansas Branch .... '7 103½-103½ 105¼-105½1105%-106 105¾-106½ 107¼-107½ 104,½i-104¼ 103½-103½ 103½-103½1104 - 105½ 105,½i-105¼ 105,¼-106½ 103½·103½
Cairo &Fulton- lst.. '7 *98¼-100¼ 100¼-100~.{ . - ........ - .... •· · - •··· .... - · ··· .. - •··· j·· . Cairo Ai•k. & Texas . , 103~-105½ 105¼- 106 105½-106¼ 105¼-106 107,¼-107¼ 104}e-10;l½ 103½-103¼ .... = .... 105½=106~ 1.06
...½=106
.. ½.-. 1.0. .~. =108
. ... ·.·.·.. 90.,..
89
88
Gen.consol.&J .. a- .... !l 91~= 93¾ 91%= 93
92½= 93)4 89 = 90¼ 81 = 87
86 - 88¼ 87 = 89 I 7
_
Ftamped, g ua1 .. ... . ~ .. ..
.. . . . . . .
. . . . ....
. .. ... .
. ... ••· .
• •• • .. • •
.. .. . . . .
. ... 90 - 90 .... - .... 85 - 87½ Sa - 85
85 - 86¼
St. L . & San Fran.i1
1
!Jd, class A .............. ti 110 -110 . ... - .... 112½-112½ *lll½-11½ 108 -108
... .... . •••• 113 - lH½ .... ....... .
=~~~~ ~~.~¼=1~~~ ~~
1 ios
~:::: ~ --.·.·.:·.:::::::::::::: !!!
!::~::it:~;~:·.::::::::~
ios
Genel'n.1 mo1·t ... .. ..... ~
:t,?~~i::·~~~~··;:.:~
~~!¼=~~:~1~~~8 j~½ !~=~~?4 ~~:½=~~!½ ~~
=1~~ ..
=l~.~.-~... 1!~..~.½=~~.~.½
.. •~.~.·.2·.
t.~.~.~. ~.~. ~·.
io4·
iw"
=1ici .. !~i!=! : ~
=101 ..
=100¼
=100½ 108~4=104½ io3 =103½ :::: - .... 109 -109 1105½- 106
97 - ~7½1 95 - 97½ 93¾- 96 .... - .... 1 96 - 97
92 - 92 .... - ........ - ... 1 82 - 82
P4½- 95
85½= 85½ . ; _
8 85 I·--· - ........ : . .::..· ::~;
Fi°.s".&v.u.:s:.1s; '10 .97½- 98. l ... - .... 100 -101
9
-
....... - ... ... .. - ........ = ........ = . .... 1
. ..
---1~.~.·.·. ~.l.1·!· =~!!
107J4-107J4109 - 109½
94 - 95
96 - 96
so _ so
= .. . . 7& _ 7&
::::i:::: - :::: ::::
92
00 - 92 .... - :::: :::: = ·::: :::: - . . . . 66 - 67½ 65½- 68
65 - 68½1 67¾- 70¼, 67½- 71½ *M¾- 67¾ 66½- 72
= : : : : ,: .· .· ..
26 - 28½ 26 - 28½ 25 - 29
28 - 32½ 29¾- 35¼ 28¼- 31
29½- 36¾
- ........ ...... - . ....... - ... 106½-106½
104, -104½ 1.... - .... 101½- 101½ 102 - 103 102¼- 103 103 -103 102 -102 "01½-102½ 101%-102½ .... u
-
St. L. S. W.-lst 19~9.4 .... !ld inc., 19S9 .......... 4 .... St. P.&D.- lst, 1931 .. ~ .... 'ld,191 '7 .. ............... ~ . ... - .... 105 -105
!!olt. P. Minn. & Man. 1st, 1909 .... ... ........ , 112 -115
110 - lll!,-4 .... - .... 113 - 113 113 -113
- ....
2d mo1•tg., 1909 ...... 6114 -117 117 -117 116¼-117 l H - 116 114½-11!¾ i16 -116 116 -116
- ...
Dakota Extension .. .. ti 115 -118 117½-118 116 -116½ 116½-117½ lH -114½ .... - . .. . 11!½-lH½ .... - ....
1st, consol., coup ... :. 6 114½-115½ 116 -117 114 -116½ 115 -116 115 -116 114 - 115¾ 111 -112
Re&ristered ........... 6 . ... - ...... - .... . . . .
•••• 116 - 116
- .... i10 - 111
....
1
Reduced to ... ...... 4½ .... - .... 102 -102½ 100 -101½!101 -101 100½-101 102 -102
97 - 97½ 98 - 98
Mon to.no. Ext., 1st ... 4 80 - 87 85¾- 87 8! - 86 85 - 85 86¼- 87½ 83¾- 84 8! - 84c .... - . . . .
M!::!:t:r~:~~:;"i"~~:·:
i.ii
2
M~~~-"'~::~~~::i:.::::~::::
=1i5 .. ii2½=1ii·· 1i~~ =1i5" lm
=1i5 .. 1 : =1~!
lH¾-115
= :::: /~. = ~ .. 1~~=1~;
= :::: :::: = :::: ... : = :::t~J4=l1Z¼ : :::
Sn.nA.&Ai•.P.,1 916 .. 6 62 - 67
70 - 74c 1 73
j92ti ..................... ti 62 - 68½ 71 = 73·½··1 7926
8.F.&N.P. ht,1919 .. ~ 95 - 96¾ ....
~. V. & N .E.,lst,1989.4 70½- 75
7!¾- 75¾ 74,
l!i!ben. Val.- lst, Tr.rf'c.'7 126¾-128¾ 129 -133 ....
l!!loutb Carolina·
1st, ex Apr.,'89, cp .. ti 103 - 103
106¾-107
~~
106 -107
·2·i
106)4-107
106 - 107
106 - 106
;~~ ·;;i 2s~
u..
114½-114½ 11
- .... 100 -100
- 74 1 72 - 74
= 9673¼ .68
.. - 71¾ .... -
- .... +62 - .... "96 - 75¼ 74¼- 76¾ 73 - 74¾ 7-! - 74¼ 7-! - .... 1133 -133¼ •.• .
Geu.mort. , trust l'ec .6 ... - ........ - ........ - . . . . 55 - 55
Stamped assented ..... . 61¼- 61 .... - ....... .
;!~:.::8~·::: ::::::::::::: ·ii
113 -113
115 ' - 117 *15½-lH¾ lH¼-lH½ ....
116 -117 117 -118 115½-115½ 115
lH - 115¼ 113 - 115½ 116¾-120 120
... . - ... , .... - . ....... - ....... .
98½- 98½ 98 - 99
98 - 98
98
83 - 85
83 - 85
- .... ~
.... t61½6-!
60 96 .... 74½ 74 -
61½ . ... 60½. 61 .... 97¾75½ 74~-
.. ..
62
97¾
76
-m
100
105 -10:-
- 101
61 - 61 ....
.... - . ... 81 - 62¾
*75½- 77% 77~- 78
- ..··..·1·.·.·..·
.... - .•.. 102 -106
- 98~
- 86½
JU%-116¼
- ....
61 - dl
61 - 62
.. ·.. 74½- 78
- 116¾
-128
106½-108
-
106)4-106½ 107½-167½
u .. ·ii~= 29 .. ·22¾= u..
2i¾ :::: - ::::
= i4 ..
= ;~
=
j ~;½=
=
2i·¾=
·20 =
~~=: · :
=:
.so. Pnc., Cal-1st ....... 6 112 -112 112 - 112!i 112 -lH 109½-112¼ 112}(-112}( 112½-112½ 113¾·113¾ 113½-113½ 112½-114 109½-109½ .... - · .. · 110¾-ll2
1st con sol., 1938 ... . ~ 99 -101 100 -lOOM 100)4-lOlM .g9¾-100¾ 99 - 99~ 99 - 99¼ 99 - 100
99 - 100
99 -101 "97½-100
99 -100 100 -101¼
So. Pn.c. , Al'iz., 1st .... 6 102 - 103¼ 101¼-102½ 101¾-102 !103 -103 103 -103:ij 103 -103¾ 101 -10214 101 -101 100 -103¼ .... - .... 103 -103 ·103 -lO;lJ,4
So. Po.c., N. Mex.-lst.6 102¼-103½ 102¼;-103 102,¼-102½ 102,¼-10,i 103 -103¼ 103¼-103)4101 - 101¾ 101¾-102 101¼-103 102 -102¾ 10~ - 103¼' 103½•104¼
Tenn.C.&I.- Tenn. D.6 86 - 0-1
93½- 94
90¼- 93
92 - 92
88¼- 92
88 - 89¼ 88 - 89~ 82 - 85½ 84 - 87
89 - 90
89¾- 90
88 - 90
Bh·. Div.,lst ......... 6 93 - 96½ 9!¼- 95¼ 9!}4- 957.( 93¼- 9-!¼ 92 - 95
92 - 9,1
88 - 89
8-! - 90
87 - 90
89 - 93½ 90 - W I 93 - 94¼
1
Texas Cent.- lst, s. f .. '7 .... .. . 40 - 40
....
- ...... . . - ..... ... - ... .
1st, 1911 ............... '7 45 - 45 44 - '18 40 - 40
44 - 44 ....
1
'I'. & N. 0.- lst, 190 ~., . ...
- .... 115½- 115¼ ....
- .... 114½ -11!½ . . .
1
~ab.Div. , lst .......... 6 l04 - lO;i .... - .... 102 -102!,» .... - ..... ·... - .... 102½-102" ... - .... 1103 -103 101 - 101
- . ... 101 -101
Tex.&Pac.- E.D.- lst.6 108 -109¾ .. .. - .... 105½-106 .... - ....... .
1st, a-old, 2000 ........ 5 85½- 89¾ 87 - 89!,i 85½- 87~ 87!1,(- 90¼ 88½- 90¼ 86 - 88 8-! - 88
83 - 85½ 83½- 87
81½- 86½ tH½- 85½ 81½- 84
2d, g., Inc., 2000 .. .. . 5 31 - 35¼ 32 - 34
29¼- 32¼ 30¾- 35¼ 30½- 3!¼ 29¾- 32½ 27¼- 31¼' 27 - 34 ' 31 - 35
30¾- 33¾ 28 - 31¼ ~,- 32¾
I
I
::::i::.·
1
Thh·dAvenue (N. Y.)
I
1st, 193,-... ... . . ..... •. ·~ 1110½-110¼ 110 ,-11~ 110 -111 111 ,-111 111 -112½ lll¼-111¾ 110 - 110½ 110¾- 110¾ lll¼-111¾ 111 - :!.12¼ lll½-112¼ 112¼-113
Toi . A. A. & C., 1917 .6 84¾- 88 86½- 87!>9 82 - 83
81>!i- 83½ 82%- 8-!
82 - 84 .... - ........ - ... . 81¾- 81¾ 80 - 81
80 - 82
80 - 92
Tol.A.A.&N.M.,lst.6 93 - 95½ 93 - 99½ 94¼- 98 95¼- 96¾ 93 - 95
93 - 94½ 93 - 93
9~ - 93½ 93 - 95
92½- 94,
91 - 91¾ 93 -100
1st, consol., 1940 ....
85 - 85½ 85 - 85" 85¾- 86 • 82¼- 83½ 82¾- 83½ 82¾- 83
82½82½
82¼82½
85
- 85
Toi.A.A.& G.T.-1 st .. 6 104 -105¾ :105 -107 106 -107½ 1107½-108 106 -106¼ .... - ... . 103 - 10-t .... - .. __I .... - .... 106¼ ·106¼ 109 -109 109 - 111
1
Toi.&:: Ohio Cent.- lst .~ 102¾-10~ 106 -107 105 -106½ 105½-106½ 104 -10~ 103 -105 102½ -lUZ½ 103 -10! 110;i -105 103½-lO;i 103½-105 10!½-105
1
1
T.P.&W.- lst, 191'7 . .
77
74¼ 74 - 7!½ 74 - 7-!½ 73¾- 75
7-! - 74
71½- 73 I 7~ - 72 1 7! - 74
74¼- 75½ 75 - 75¼ 75¼- 79¼
Tol.St.L.&K.C.-lst.6 83¾- 91
87 - 89
&i¼- 86
82 - 87
82 - 87½ *80½- 85
79 - 83¾ 80 - 8!
83¾- 89¾ 85½ 89½ 88 - 94 •90 - 93½
IJnionPac. - lst, 1896.6 108¾-109¾ 109¼-110¾ 108¼-109¾ 108 -109¼ 107¾-109 1108¼-110 *06½-107 106½-106¾ 106¾-107 1(17,¼- 108 107¾-108 .... - ....
1st, 189'7' . ...... ...... .. 6 110¾-llQ¾ 110%-110¾ 109 - 111J4 109¾-110¾ 109h-110¼ 110 - 110½ 107¼-107¾ 107 - 107¾ 107¾·108¼ 108¾-108¾ 109 -109½ 109¼-110¼
1st, 1898 ............... 6 1111¼-113¾ 112½-112½ 112¾-112¾ 111¼-112¾ 110½-111½ lll:)s-113¼ 10 ½-109½1107¾· 108¾ 108¼-109¼ 109,¼-110¼ llO:)s-llO½ 111 - 112¼
1st, 1899 . ............ . ti 113¾-113¾ 114 -lH lli,½i-114¼ 112¾-112½ lll½-112¾ 11274-113 110½-110½ 110½-110½ 110 - 110 110½-110½ 112 - 112 .... - ... .
Sink.Ina- fund ........... 8 108 - 111 lll¼-111¾ 107 -107¾ 107½-108 108 -108 108 -108½ 108½-108¾ .... - .... 105 -105 105>fi-105¾ 105½-105¾ 106 -107
Registered .......... S 108¾-108¾ .... Collatero.1 T1•ust ... .. . ti .... 90 - 90
Colin.tern.I Trust ... . I} .••• - ........ - . • •. 80 - 80
. .. .
72¼- 72¼ .... 79 - 80
Collateral Trust .... 4½ 70 - 72
69 - 71)4 70½- 70½ 71 - 74
69¾- 71½ .... - .. .. 69 - 73
70½- 72
70 - 70
65 - 70
66 - 70
Col. tr. notelii, '94, g . 6 .... - ........ 93¼- 9-!
93 - 9:3¼ 92%- 95%
Kan.Pac.- lst, 1S9~.6 110½-111 .... - .... 108 -109
- .... 107½-107½ 108¼-108¼ .... - .... 10!¾-104% 105¼-105½ 106 -107
lat, 1896 .. ........ ... 6 .... - .... 108 -109
- .... 109½-109¾
- .... 107 -107¼ . . . - .... 107 -107¼ 107 -109
- ... 107 -107¼
Denver Div ........... 6 111 -111
.. - .... lll¼-111¼ ... - . . . 109½-UO 109¾-109¾ 110½-110½ .... - ... . 106 -106 109½-109½ 108 -108 108 -110
~J···· - ........ - .. .. .... - ....
-t,•7! - 17!½-
i:~_;:;.:o:hu:P~-~~r:: ~~~
=110¾ 110 =1~~ ..
~~~ =1~~~ ~~~.~=1~~~ ~~~1~~~~ !~~
=!~~¼ ~~.~¾=1~'. . .
~~~ =1~~~ ~~~%=1~~~ ~~~½=1~s .. J ~~~ =106~t~
!
-108¾
At.Col.&Pac.-lst .. 6 82 - 82 so - so
so - so
81 - 83
80 - 81
79 - 79
78 - 78
77 - 78
78 - 78 I so - so
so - 82
Oreg. Sb. Ltne-lst... 6 102½-106½ 103 -105 100 -104 100 -103 102½-103¼ 101 -102½ 101¾-104% 95¾-101
99¾-101½ 100½-101¾ 100¾-102¼ 102 -106¾
Or.Sh.L. &U.N.,con.~ 77¾- 80 77 - 78
73 - 76
74 - 79½ 75½ -79¾ 71¼- 75½ 70 - 72½ 66 - 74½ 71 - 75½1 71½- 74¼ 73½- 75¾ 73¾- 80
1
Colln.t, Tst., 1919,a-.. ~ 77 - 79¾ 777.,fr 78¾ 74 - 75
- . .. . 74 - 74, .... - .... 71 - 71
72 - 74
71 - 74
74½- 75½ 73½- 73½ 74¾- Sf?
Utah Soutbern- Gen.'7 . ... .. 100 -102 .... - . . . . 977/4- 98
96¼- 96¼ 96 - 96
97 - 98 100 -100 .... Ext'n, 1st, 1909 ..... ,- 100 -101 100 -100 100 - 100 100 -100 101¼-102 101¼-101½ . . . . 96 - 96
95 - 97
96½- 97 100 -100
U .Pac.Den.& G.Con.:i 78 - 82
79¼- 81
78¾~ 80¼ 79¼- 80
77 - 80 •71½- 75
67 - 72
M - 73½ 70½- 75
71½- 74
71½- 75¾ *70 - 75½
Un.Pac.L.&Col., lst.~ ... 75 - 75 .... - . . . . 71 - 71
71 - 71
75 - 75
72 - 72
72 - 74'
Utah & North'n-lst. 1 .... - ... 106 - 106
- .. .. 106 -106 .... Gold lfl-46 ........... .. .:i .
- - - - '-..c..:..:..:....:...:..:...:...._..c..:..:..:..c..:...:..;.._--=..:..:..:..:..:..:..c.___:_:.:..:......c..:.:..;.._ _:_..:..:..c..c.... - •••• L... - . . . . 79 - 79
• lllx•interest.
t Tru1t receipts,
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
BONJJS.
R.HLROAD
1891- Concluded.
JANUARY FEB,'i°'~Y.
BONDS.
MARCH.
APRIL.
JUNE.
MAY.
JULY.
AUGUST. ISEPT'BER
____ ----
OCTOBER. , NOV'BER. DXC'Bll:R .
---
Low.High Lo-w .Htgh Low.Hhrh Low .High Low.High Low.High Low .High Low.lTl•T.ow .Hlgh Low ..:Ilgh Lo w.Hl11h Low.High
---------
86 - 86¼ 82 - 84
Va. Mld.- Gen.,1936 .. ~ 81 - 85 '84)4- 89),s 85½- 86
78 - 80
79 - 81
80 - 81
79 - 81
79 - 81
77¼- 77~ 74 - 79
84-84
84 -85 ... . - .... 82¾- 84
89 - 89½ 86 - 87
Gen., auar.8tamped .:I 83 - 86¼ 86 - 00 89½- 00
85 - 85
74' - 79¼
76 - 79
.... . . . . - ........ - .. . . - .... 103½-103½
lOi -104
Valley Ry. ot 0.-Con .ti ....
.... .... - . .. . ....
- ...
100¾-102
97
'\I abash- 1st, a-, 1939.:i 98 - 101~ 100~-102
1!9¼-100¾
96½- 99¼
- 98½ 97¾- 99¾ 99¼-101¼ 100¼-101½ 101 -103¾ .gg3-\-10l¼ 101¼-103½
73¾:- ';5¾ 73 - 74¾ 73½- 75
~d mort., a-old, 1939.~ 73½- 77½ 70 - 72½ 70 - 7-1
73½- 75½ •71 - 80
77¼- 80
77½- 79¾ 78 - 79!'{ 79½· 83
Deb, Inc., 1939, s. A.6 .... - . ... .... - . .. . .... - .. .. . ... - . ... .... - . ... .... - .. . . . .. - .... .. .. - .... 44 - 45½ . ... - .. .. .... - .. . .... - .. .
30 - 30¼ .... - ... 31 - 35~ 27 - 30
35 - 36
42 - 49
Deb. Inc,, 1939, s. B .ti 32 - 35
33½- 46
31 - 35
45 - 51¼ 44½- 48
40½- 44
~t.L.K.C.&N.R' l E., 106½·108 108 -108½ .... - ... 105~·107 107 -107 105½-100¼ ... - . ... 107 - 107 . ... - ... 106 - 106 .... - ·••· 105½-107
107
108¼
109
107½-10.7¾
...
109½-110
.
109½
109¼-109¾
1()61/4-107
109¾·110
105¾-105¾
....
105¾-107
No. Mo.-lst,189~.,- . ...
··• ... . ... 102¼-102¾' 104 -106 105 - 105 105½-106½ . . . . - . ....
8t.C.B'a-e, l8t,190W.6 lOi¼-107 105 - 105 .... - .... .... - .... 104 - 104 105 - 105
W.N.Y. &Penn.- lst.~ 96 - 99¼ 100 -101 99 - 100 99½-100½ 98½-100¾ 09 - 00¼ 96½- 98 98 - 98¾1 98½- 99
98}2-100
99 -102
08 - 99
2d M., a-., 192'1 ... .3-~ 30½- 84¼ 33 - 35¼ 32 - 33¾ 81½· 33
27 - 28¾ 29 - 33 . 31¼- 36½ *32¾'-3! ¼ 29 - 33
31:J(- 32¾ 27½ ;H
31 - 34¾:
114 -115¼ ....
We ■t. Un. Tel.-Coup .. , 116 -116
.... .... - .... .... - .... 109 - 109 .... - . ...
- ... .... - .... 117 -117 .... .... 115 -115½.
.... 111 -112¼ . ... - .... .... - .... .... - .... 108½-108¼ . -··
Rea-l8tered ....... ...... , 115 -116¾ ...
... - . ... .... - ....
- ... .... - ... . ... - . ...
Collateral trust ..... ~ 98 - 99¼ 98 -100 99 -100 99¼-100¾ 98 -100
98 - 100¼ 99 -100
99¾-100
99 - 100
99¼(-100
99¾-100 100 -103
W. Va. Ceb.&P., l8t,ti .... - ... . ... - ···• .... - .... .... - .... . ... - .... 100 -100 .... - . ... . ... - .... .... - . ... ... . - .... . ... - .... .... - · ····
W.beel. & LakeE. lsr.~ 104¾-106 106 -106 .... - .... 104 - 104¼ . ... - . . . . t05½-105½ 106 - 106 106 -106 . ... - . ... .... - . ... 102½-104 104½-105¾,
.... .... - . ... 92 - 93 92 · - 92 93½- 9!½ 04½- 94¼,
Ext.& lmp.,a-.,1930.5 .... - .... 92¼- 94¾ m - 94 93¼- 94
92 - 93¾ 93¾- 93¼ ....
Wl8. Cent. Co., 1st, ii .. 5 95 - 97 94!':(- 96 93 - 94¾' 93 - 93 91 - 91 .... - . ... 88 - 00½ 88 - 90
92¼- 9!
92½- 95
93¼- 9!¾ 92 - 94
Wood'k Ir., l8t,lfH O.ti .... - .... .... - ....
- ........ - . ....... - ..... .. - .. .. .... - .. .. . .. - • ... .. . - . ....... - . .... .. . - . ... 70 - 70
..
-
-
-
-
-
-
• Ex-Interest.
1892.
JANUARY FEBR'RY.
MARCH.
JUNE.
MAY.
APRIL,
JULY.
AUGUST. SEPT'BER. OCTOBER. NOV 'BEH.
l>EC'llER.
-------- ---- -------- ---------------- ---- -----1-----
BONDS.
Low.High Low.High Low.High Low.High Low.High Low.Hhrh Low.High Low.High Low.High Low.High Low.High Low.High
Ala. Mld,-lst, 1928.. 6 86 - 00 89 - 89
89 - 89
88¼- 89¼ .... - .... 86 - 90½ 89 - 89½ .... - ........ - .... 89¾- 89½ 88¼- 88½ .... - ... .
Am. Cot. Oil Co.-1 8 t .. 8 107¼-111½ 109¼-109¼ 108½-lOQ¼ 109¼-112 109¾-lll¾' 111 - 113½ 112¾·113 111¾-113 111 -112 lll¾-1131/i *110½-112 112 - 112¼
Atlautic&Paclflc- l8t.4 72¾- 74
71¾- 72¾ 71¼- 72¾ 72 - 73¼ 71¼- 72¾ 69 - 71
07 - 67½ 68 - 69¾ ... - .... 68¾- 70½ 70½- 72½ 69½- 71
Income ................... 6 13¼- 14¾ 12 - 18½ 12 - 12¼ 11 - 12
10¼- 12¼ 11 - 12¼ 10½- 11
10 - 11¼ 11 - 11¼ 11¼- 11½ 11¼- 13¼ 10¾- 12½
Atch. Top. & S. Fe.Gen. mort., 1989 .. .. . 4 •83¼- 84
81¾- 83¼ 82½- 83
82¾- 8-1
83 - 85
83¼- 85¾ 82¾- 83~/i 83 - 83¾ 82½- 83½ 83¼- 8-1
83¾ · 84¼ 83¼- 84
Rea-iatered . ............... - . . .. 83 - 83 ... - .. .. . . . - .... 81¾- 8-!
83¾· 8! .... - ........ - .... 81¼- 81¼ 83 - 84
83 - 84
83¾- 83¾
Income, 1989 .... ..... ~ 62¾- 66¾ 58¾-. 63¼ 58¾- 02 i":;3¾- 60¼ 53 - GS¼ 66¼- 59¾ f.8 - 00½ 59¼· 61½ 55¾- 58¾ 58¼- 59
57¼· 58½ 53½- 56¼
7
Realatered ............ . ... - ........ - ···· .. - ........ - · .. · ... · ~ ........ =
r. ""~ ;,
r.1½
~L ••••• •• = ·
.·.·.·. ·5-- · - ···· ••· - ·· · · · · · · ·•· - ·•· ·
56 "" 5 6""
6 - 58½ *57¾- 58¾ 58 - 58 . . . . - . . •.
Tr118t receipts ..... .. . . . . . - . . . . . . . . - .. -. . . - .... •. •. - • •.... •. - • ••- •. •.
Clp.88 .. A"l989,~.4 .... - ....... - ........ = .... .... = . ..1. ... = ... . ... = .... , .... = ........ = ........ = .... 58 =GB
55 -58
52¼-56
Claes "B" 1989 ...... 4
- ........ - .. .. . ..
.... ..
.. .. . .. .
.. .. .. ..
. .. . ..
.... ....
.. . ... .
. .. ....
. ... 63½- 03½ 58~- 58½
Baltimore & Obiolst, Parkersb'a- Br .. ti 117¾-117¼
- .. . . 117¾-117¼ .. .. - ........ - .... Lli3 -118
... - ........ - ........ - ........ - .... 119¼- 119),( .... - .. . .
Oold, 192~. coup ..... ~ 108 -108½ 106 . -108 108½-108½ 110¾- lll 109 -112 111¼-111¼ 112½-113 109 - 111 111 - lll¼ 111¼-112 110¾ ·112 lll¾-112½
ReKi8t.;red . . ... ........ 107½-107½ .... - .... 109 - 109¼ 107 -110
... - ... 110 -110
... - .. .. . .. - ... ... .. - .... 109 - 109 .... - ... .. .. - ... .
Consol., a-old, 1988 .. ~ . .. - ........ - .... .... - .... .. - .... 115¼-115¼ 115½-115½ .... - •... 112½-112½ .... - .... 113 -113 .. . - .... 114¾-115
.A.k. & Chic. June ... .. 5 ... - . .. . . .. - ........ - .. 105 - 105 .... - .... .... - ........ - . . . . . .. - ... 105 - 105 .... - ........ - ........ - •... .
W. Va. & Pitts., l8t.~ .... - ........ - ....... - ....... - .... 102 - 102 .. . - ........ - ....... . - ........ - ........ - ........ - ........ - ... .
B.&,O.SW.- lst,1990102½-102½ .... - .... 103¾- 104½104 - 105¾105¼-107 .... - ........ - ........ - ........ - ........ - .... 107¾-108 .... - .. ..
··-- j "
-l, :e:».i·
~~::::!;!~~:.-:~ , ·92½=
08½ .98¼-H)O .. i00¾-10{¾ .99½-10{¾ ~~~ =~~~½ io·i¾=103 .. 10~·
Jteglstered .............. 4 .... - . . .. 95 - 95
Bost. H.T. &\Ves.deb .5 100½-102 .... - ....
Bost. Un. Gas Ti•. elf..~ 92¾- 92¾ 90½- 00¾
Buff. Roch. & Plttsb.Gene1·al ............... . 5 95 - GS
98 - 99¾
. Consol., lst .......... 6 114¾-116 Ll6½-116¼
;Brooklyn Elevatedl 8t, 1924 . ............ .. 8 111 - 112½ 112¾'-115
!ld mort., 1915 . .. . 3-5 83½- !:l3¼ 90 - !JO
Union El, - l8t,l 93'1 .6 110 - 111 111 -113
Bu1·l. C. Rap. & No.lat .. ! .. . .................. 5 101¼-103 102 - 103
·con8ol. 1st & col. tl'.5 IJ5 - IJ5 95 - 95
Realste1•ed ................. - .. .. .. .. - . .. .
O.R.I.F.&N ......... .. ti W>j<-101,000 - 100
0
0
=10! 103¾=103~ ::::
100 -100 100 -100 100 -100!,f 101¾-101¾ .... - . . . .
- . . . . .. . .
99¾- 100½ 99¼-100 100 - 100 .... - ... 1102½-102½ 102 -102½ ....
.... - .... IH½ - 01½ !!2~-,1- 92¾ .... - ....... - .. ..
- ........
97 -100
117 -117
100 -101 101 -102
116¾-117¾ 118 -120
=
-
:::: ··:: = :::: ·:::
........ - ........
.... 99¾·101 ....
........ - .......
=
-
:::: : :::
. . . .. ..
.... 100
. . . .....
= :::~
- ... ..
- 100
- .... .
101½-103 101½ -102 101 -102½ 100 - 100
99¾- 99¾ Oil¼- 99½ l.lS¾-100
•116¾-117 .... - .... 117 - 118½ 119½-119½ 118 -119 l:W -118 120 -121-
116 - 118 114 - 115 114 -116 116¼-117¼ 118½-110 .... - .... 120 -120½ 116 -117 116%-118 117 -118'
90¼- 91
01 - 91¼ 1 92 - 93
03¼- 93¼ 94 - 9!
9!¼- 94½ 06 - 06
96 - 96½ 90½- 90½ 97 - 98
113 -114¾ 114 - 115¼1*112 -113¾ 113¾-115¾ 115 -116¾ 115¾-116¼ 115½-116 115¼-117 114½-116 115 -116¼:
I
102½-103
116 - 96
102½-105 105 - 106 102¾·103½ 10~¼-105½ 104¼-105!1( 10a
U5 - llu½, 97 - !Ji½ 9-1½· 96¼ 95:1:\- 97¼ 95½- 06¾ 96
.. . - . . . . .. . - . ...
- . . . . . .. - c . . 96 - 96 . ...
..•. - . .•.
- .
lOL
·r-- - . .: -.. . ... -.. . ... -..
- 104½ 104¼ -105¾ 104 105 101½-103
- 96¼ 93¼ · 97¾ 95%- 96¼ 96½- 98
- ........ - .. . ... .. - .. ...... - ... .
-101
.... -
•....... - •....•.. - •...
r:A{!::!f::E::~:;~,~; ; l;; :1: 1,; :l;~· l:~l:,_ 1~,~l~~ 1~:l;; .~ :l~ .~,.:l~ 1:,.-1: l~. :l~~ .:,.-1:: ;~:l;;;;
1
!ld morte-aa-e .... .. ..... ~ 101 -103 102
Relllstered
.... - ........
C.eot. O., 1•eora-.,lst.. 4 ¼ 101¼-lUl¾ ....
Col.&C.lllld.,'39.4½ .... - ........
Cent. RR. & B., Ga .. 5 80 - 80
85
~=:~~~:,~8~CO~~~:~:~
~~¾=
~~~
- 104¾ •100 -102¼ lOQ¼-101½ 1101½-102
- ........ - ........
- ........ - ..•. 101
- ........ - .... ....
- 85
75¼-
85 ..
Cent. ot New J e1·seyCon8ol., 1899 ... ...... 7 115 -115¾ 116½-117
Convertible, 1902 ... 7 120 -1~2
i:::~tbi~;,.°~:::::::
Rea-istered . .. . . ... ... ~
Leb,&W.B,-AHent ,Morta-aa-e, 1912 ... . ~
Am. Dock & Imp ...... ~
~~~~
... -
.......
;{¾= 79¾ ·;,:;
102 -103 102¾-103¾ 103 -103¾ 101 - 102 101 -101¾ 101 -101¼ 101 - 102¾
- .. --1 ·... - .... 101¼-101¼ .... - ........ - .. .. 101½-101½ .... - ........ - ........ - ... .
-101 .... - •.•. !.... - ........ - .. .. .... - ... ... .. - ..... .. - .... ... - .... 103¼-103¾
- .. ...... - ....... . - . ... 92½-92¾· · · - .... .... - .... , ... - ........ - ... .
- .. . . 81 - 85 1-- .. - ........ - ... . ..•. - _. ...... - .. . . . . - . . ...... - .. .. 81 - 81
= 75·· 1·73
=76 .. 1.73 =;;,•· ::::
= :: ... 07¾= 70½ .07. =
74 .. ·;;;_
=
73 .. 09¼= 72 .. .67½~ 68 ..
\
117¼-117½ 116 -110)4 111 -117 119 -119 115¾-116½ 117¾-117¾ 110 -117¾ .... - ... . 115 -116 115 - 116
122½-123¼ 123¼-123¼1120 -121½ ' .... - ... 120)4-120¼ 120½-1;-!0¼ 122½-122¼ 123¼·123¼ lHl -119¼ 118½-119
UO¾=ll2%
~~~¼=~~:~[~~~112¾
!!~9¼=!~1
112 -112¾
ii.a =1i~-109¾-110½ 110¾-111¾ 110!4-112¼ 110 -110¾ 110¼-111 111¾-lll¾
109½-110 110½-111½ 110 -110½ 110½-112¼ 112 -113¾ 112½-lU
94 - 96
97 - 98½ 98 -101½ 100 -100
96 - 98¾ 100 -100
105½- 107½ 10734-108 106 -107¾ 106½-107¾ 108 -108!4100¼-111
I
I
~io¾=lii .. iio~1ii~, iio¼-1ii½ iu =1ii½ iio½=1ii¼ iio~iii½
110 -111 111 - 111½ 110 - 110¼ lOQ¾-110 109¾ 110¼ 109 - 110¾
113 -114 112 -113¼ 109½-110¼ 112 -113 111¼-113 108¼-109Y,
100 -100¾ 101!4-102 101¼-101¼ 100½-100½1... - ........ - ...
108½-108½ 108¼-109 109½-109¼ lli>¼-1103,ii 110¼ -110½ 110 -111
Gold, 189~ . .. . , •....... 6 105¼-106½ .... - .... 106½-107
. .. - .... 107½-108¼ 108!14-100 .. .. - . .. . 105¾-106 106 -106 106.¼;-106½ 108¼-108¼ 107½-108
Gold, 1896 .. ......... . 6 196¼-108 l l)S¾-108½ 108¾-108¾ .... - .... 109¼-110½ 109¼-109½ 106¾-106¾ 106¾-107¼ 107· - 107 108 -108 1108 - 108 108¼-108¾
Gold, 189'1 ....... ..... . 6 109 -109 109¼-109¼ .... - .... 108¾-109¼ .... - .... 110¼-110½ 108 -108 108 -108¼ 108 - 108¼ 108¾-108¼ 109 -109¼ 109¼-109¾
~:~=~~~~ l~~¾=l~~~ ~~~. =1~~~
=l~~~i~~~.¾=1~~
1~~
~~~
~~~¾=l~~~i ~!~¼=~~¼
::~'}ola~~~~· Bi:::::::: :
~~.1.. ~1~. =1~~ ..
=1~~ .. !==~~
=1~~ . .
111 -111¼
1
Land a-ran ta ............ 5 101 -101½ 101¾-103 102%-103¼ .... - .... 101¾-102½ 102¾-102¾
101 -103¼ 102¼-103½ 10-!¾-10-1¾ 104¾;-104¾
Weatern Pac .... ....... 6 105 -106¼ 113 -113 no - 111 lll¾-lll!l:{.110¾-110¾ 111 -111 100 -109 112!4-112!4 .... - • .
. .. - . . . . 1. ... - .... 108½-113
No. ofCal., 50 .yeu.r .. ~ 100¾-101¾ 101 -101¼ 101½-102½ 100 -100¾1100¾--101¾ 101 -102¾ 101 - 101½ 100½-101¼ 100 -100¾ 98 - 98~ 00½- 9i¾ 95¾- 97¾
Cheaapeake & OhioP. mon. fund .. ......... 6 109¼-110 109½-109¼ 110½-111 111¼-112¼ 113 -113 112¾-112¾ 109½-109½ 109 -109 .... - . . . 110 -112¾ 109¾-111 .... - ... .
Serie■ A, &old, 1908.8
.. .. - .. .. L19 -119 116 -1171116¼-117½ .... - ........ - ... .
. ... - .... 117 -117 .. .. - . . .. 116 -116
lllort., 1911 ............ 6 115½-118 118 -119 .... - ...• 114¼ -116 116 -116½,116¼-117½ 117¼-117¾ 117¼-117!4118¾-118¾ 115¾-117 116 -116 115½-117
l8t, con., a-., 1939 ... . ~ 103¼-106 104 •-105 104 -105 104¾-107 104 -104¾ 104 -10!¾ 104 -104½ 103¾-104¾ 103½-104½ 10!¾-105 102 -102¾ 101 -102¼
1
Re&i&tered. .......... ..
101¼-101½ ... . - ... •103 -lOll½ 103 -104¼ 103 - 103 J.03 -103 103¾-103¾ .. . . - . .. . 103 -10! 101¼-102 .... - •..
General, 199~ .. .... 4½ .... - ........ - ........ - ........ - ... 82¾- 84¼ 81¾- 83¼ 81¾- 84¼ 83¾- 84¼ 79¼· 81¼ 76),-4- 79¾ 78 - 80
79½- 81
R,&A.dlv.,lst con2-4 70 - 'i8 'i6¼- 'i8 76½- 77¼ 76¾- 78~ 78 - 79
78½- 80
78!,ff- 79% 80 - 81
78 - 80½ 79 - 'ill¾ 78!1,(- Sl
79 - ~O¾
bt, conliol., 1989 .. 4 .... - ........ - ........ - ........ - ........ - ... 84 - Si¾ 83 - 83½ .... - ... . 82 - 82
82½- 83
83 - 84¾ 84½- 84¼
~d con ■ ol., 1989 .... 4 75½- 79
77½- 79
'i7 - 'ill½ . .. . - . .. . 79 - 79
78~- 80¼ 'i8 - 78½ 78¼- 79¾ 78½- 80
77 - 78¾ 79 - 79¾ 79 - 80
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
I
* Ex-intErest.
88
.BONDS.
RflLRO.A.D
189~ Continued.
JANUARY FEBR'RY.
BONDS .
- - - - ------
MA.ROH.
MAY.
APRIL.
JUNE.
J ULY.
AUGUST. SEPT'BER. OCTOBER. NOV'BER. DEC'BER .
L o w.High Low.High Low .Hl~h Low . High Low.High , Low. High Low.High Low.High Low.High Low.High Low.High L ow.Hl1rh
--- - - - - - - - - - - - - - - - -
- - - -,---
- - -·
Ches. o. & s. W ....... . 6 107 -107 •10& - 105 1041j,g- 104¾ 102 -105!4 105½-106¾ 105¼-107 107 -107 .... - .... 103½-105 104 - 105 .... - •... 105 -100¼
71½- 71½ 71 - 71 .... - ........ - ........ - ........ - .... 70 _ 72
71 - 71
... - . ... 70 - 72
74 - 74
~d mort., 1911 ........ 6 77 - 77
Chien.go & Alton-1 8t .. 7 102%--103!,t; 103~103J.2 103¾-103~ 103¾-104 101 -104¼ 104:J,f-105 101:½,-101!}.( 101:J,f-102 101'¼--102 102 -102¼ 102½-103 103¼•103¾
Slnldng fund, 1903 .. 6 lli}¼-119¼ .... - ........ - .... 1203,a-120½ 117¼-117¾ ... - ... . 118 -118 119 -119 . ... - .... 119!,(-119)4 ... - .... 117¼-117¼
- ........ - ........ - .... 117 -117 118¾-116¾ 117~-117¼
L.&Mo.R.18t, 1900., 119½- 119J.i; 115¼- 115¾ 116¼-116¼ 116l1i-117 .... - ..
- .... 112 -112 .... ~d, 1900 ...... ... ..... ,- .... - ........ - .... 107:½,- 107½ .... - .... 105½-105½ .... - .... 106 -106¾ 106)4-106J4 106)4-107 ... . - ... . 1C'3 -103J4 .... - ....
St.L.J.& CJ.i.ht,'94 7 106 - 106
- .... 10,1, -104, _ 104Xi-104¾
.llJ18 8 • R. Bdg. 1st ... 6 106 -106, !06 -106 107 -107 .... - .... 103¼-104
Cblc.Bur.&Nor.-18t.5103¾-103J.1J 105 -105 105 -105¾ ... - . .. l"M¼-105 105 -105¼ 105 -105 105 -105 106½-106½ 104 -105
-103
103
....
Debenture, 1896 ..... 6 ....
Chic. Burl. & QulncyCon8olidn.ted .......... 7 121¼-122¾, 122:¾-123¼ 122½;-123¼ 123½-124¾ 124)4-125)4 125 -126 121½-123 122 -122¾ 122 -123 123 - 123¼ 128¼:-124 123,¼-123¼
Sink. fund, 1901 .... .-t} 103¼-104¼ 1()4;,¼-105 104¼- 104!}.f •... - ... . 103~-103¾ 103¼-104 105)4-106)4 104¼-104¾ 104¼-10!~ 102¼-102¾ 103¾-103¼ 103)4-103)4
Debenture, 1913 .... . ~ 101 -103¼ lOZ¼-103¼ 108 -103¼ 103½-105½ *102 -103¼ 102¼-103¼ 102 -lOZ¼ 102)4-103 101¾-102¼ 102½-103½ 100 -101½ 101 -102½
Couve1·tible, 1903 .. . ~ 112¼-11! 110¼-lll¾ 107¾-111 1 1 0 ~ 110 -111 107 -108 107¾·109¼ 109 -110 106 -100¼ 105 -108 100 -107½ 105 .-106¾
-:
- • •· 106~,!-106¼ .... - . -...... - .. -..... - . .. .. .. - .... 105 -105¼ 105 -105
IowaDlv.- 81nk. fd .. . i; ..
94½- 115½ W¼- 94.ti
94¾- 04¾ 94¾- 96¼ 95¼- 96% 96¾- 96¾ 95¾- 96
93¼- 95
93 -1>3
94 - 94¾ 94 - 05
Iowa Div., 1919 .. . .. 4 93~- 94
9i¼- 94¼ 94¾- 94¾ 92½- 93¾ 92¾- 92¾ 93 - 93¼ .... - .... 93 _ 93¾
Denver Div., 1922 .. . 4 .... - .... 91½- 01¾ 91½- 01½ 91 -1'4½ 93¼- 94
Pin.in, 1921 ... .... .... 4 89¼- 89½ .... - ........ - ..... . .. - ....... - ... . .... - ........ - ........ _ .. ..
81¼- 86½ 84 _ 86¼
87 - 88¼ 88¼- 89
88¾- 89¼ 88 - 88¼ 88¼- 89
89 - 91¼ 88½- 89¾ "8 9!!i- 91¼ 89¾- 90
Nebr'8kaExt.,1927 .4 89 - 01
Registered ............ - .... - .. •· .... - • • .. • • • • - -- .. •· •· - • • •· • •· • - •·: • • • • • - .... • .. • - ........ - ........ - ........ - ....... . - .. .. 84 - 85¾
Chic. & E. Ill.-l8t, 8,f.ti 112¼- 114 114.½-115 114½-115½ 11.7 -117 117¼-118¼ 114¼-115½ 115¼-115¼ 115¼-115¼ 116¼-117 115¾-115¾ 115 - 116 .. : . •....
l20¾-l20½
t 8 tcon8ol., ,iold ... .... 6 122 -122¼ 122 -122 .... - ... 120)(-120:1-.f 121 -121¾ 121¾-121¾ 123!4-123)4122 -122 122 -122 119 -119
99½-::..00¾ 98½-100¾
99 -102¼ 101%-102~ 1<01. -104 101)4-102 101 -101¾ 100 -101 100 -101¼ 100 -102 101¼-103
Gen, mort., 193'7 .... ~ 97 - 99
90 - 93¼1 '92 - 04~
89 - 02¾ 00½- 00¼ 89!1-,!- 91
92 - 94¾ 91¾- 92
89 - PO~ 89¾- 91¼ 90¾- 94
88 - 91
Cblc, Ga8 L. & C-ht .. /i *86 - 88
96 - 97¼ 97 -102 102 -103 100¼-103¼ 102!1-,!-103 100¼-101¼ 100 -101¼ 101¼-102 101'¼--103½ 103)4-103¼ .... _ ....
Chlc.&ln.C'lRy-18t./i 97 - 98
........
~::;:~~~:"':::~~~5 . . -........ -····1 ···· - ....' .... - ........ - ....
-
99½- 00¼ .... - .... ...
.... 100 -100
1 8t, P. D., 1898 . ..... 8 121 - 122 118 -119½ .... - ... . 118½-120 120 -120~ 120 -122 121¾-122 117 - 118½ 117¼-118½ 118 -118 120 -120 119 -1.20
.. ..
2d, P. D,, 1898..... ,-•3 124¼-125 121.¼-122~ 120 -123~ 123)4- 123¼ 124 - 125½ L25 - 125 125½-125½ .... - .... 123½-123¾ 123¼-124.½ ... . _ .... ....
t 8t ,gold, R. D, 1902.7 124½-124J.2 125 -126¾ 127 -128 127 -128½ 127¼-127¼ 127¼-129½ 126 -128 126½-128 .... - .... 128½-128¼ 127½-127½ 128¾-128½
htLaCro8seDlv .... 7118 -121 120 -123 122¼-124 122 -123¼122 -122¼122 -125¼121 -122 122 -123½121¾-123¼ 122¼-123~ .... _ ........ _ ·
ht I, & M. Dlv ........ 7 119¾-120J..H22 -123 122¼-123¾: 123 -:123¼ 123 - 124 124 -124 123 - 124 123½-125½ 122 -122 124 -124 123¾-124½ 122 -123
- .... 123 -1241}.( 124½-125 124 - 12'.i¼ 126 -126 .... - .. ...... - •... 124 -124 .... - ........ _ ........ _ ...
1 8 t I. & D. Div . . ...... 7 .... - . . .
- . . .. .. .. - ........ - .... 128½-128½ . .. . - . . . . .. . - .. .. .. . . - ... . 126¼-126½ . . .. ht C. & M. Div .... ... 7 123 -123
Con 8 oi., 190:i .. .. . .. .. 7 125¾- 126 128 -128¼ 127 - 128:l,.! 127 -128 128¼-131 130¼-132¼ 127¾-130 128¾-130 127¼- 128 127 -1213¼ 128)4-131 130¼-131
, - . . . 126½-126¾ 127 -128 128 - 130 130 -131 .... - ..... . .. - ....... . - .. ...... - .... 120 -129 .... _ ........ • _ ... .
l8t I. & D. Exten . .... 1
ht So. We ■t. Div ..... 6 *112¼-13½ 113 -114¼ 114½- 115 114¼-116¼ 116 -116¼ .... - ... . 113½- 114 114.¼-115½ .... - ........ - .... 115½-115¼ 115 -116¾
btLn.C.&Dn.v ... .. . ~ .. . - .... 103½-104 104 -104 104 -104 10! -104 ... . -· .... 102'!-102¾ .... - .... 101¾-104½105 -105 102¼-105 105 -105
ht So. Minn. Div ..... 6 113½-114¾ L15 -116 116;).(-117¼ 117 -117¾ 117 - 1177~ 117)4-118 115 - 116¾ 117 - 118 115¾- 117¼ 116 -117 117 -118 116¼-116¼
1st H. & D. Div ....... 1' 122 - 123 121 - 125¼ 126¼-126¾. 126 - 127½ 127¼- 127½ 129¼-129)4 127 - 127 126¼-127¼ . ... - . .. 126¼-127¼ 126½-127 126 -126¾
ht H. & D. Div ...... /i .. .. - .. . . ... - ........ - .... 102½-104¼ 104¼- 105¼ 105¼-106 .... - . ... .. . - .... 105 -105¼ 105 -107 .... _ ....... _ ... .
Chic, & Pac. Dlv ...... 6 117 - 117 117 -117 120 -120 118 -119 .... - ........ - ........ - ........ - . ... 119 - 119 118½-119 .. .. - .... 118 -118
Chic. &Pac. W.Dlv .. ~ 106 - 106½ 106¼- 107½ 106¼-108¼ 108 -108¾ 110 -111 110½-111 108¼- 109¾ 109½-110¾ 108½-110 1C9¼-110 109¼- 110¼ 109¾-lll
Chic. & Mo. R. Div .· ~ 100¼- 101½ 101¼-102½ 101½=102½ 102¾-10:J¾ 10.i -101½ 10!1¾-106 103 -103½ 103 -105 102¼-103½ 1021/8"'"103,½1103¾- 101,½ 103 -104¼
Minero.I Point Div ... ., 102 - 102J,( 101¼-102¾ 101½ 103:).( .... - .... 102 - 102¾ .... - .... 102 -102 . . .. - .... 102 -103 102~-103½ 103 -104 .... - .. ..
.. - . . . 102½-102¾ .... - . . .. .. - . . .. ... . - ........ _ ........ _ ... .
Chic, & L. Sup. Div ./i . . . - . .. . .. - . .. .. .. - .... 103¼-103½ 105 - 105
w1 8,& Min. Div .. .. .. :, 103 -104¾ 104¼-105¾ 105 - 106 105¾-107 107¼:-108 107¼- 108 105¼-106¾ 107 -107¼ 107 -107 106 - 107½ 105!1:(-107½ 106¼-107¾
Terminal.. .. ......... . /i 103 -104¼ 104 - 105 105;!4- 106 106¼-107¼ 107 -107¼ 107¾- 108½ 105½-108 108¾-108¾ 107 -108 108 -108 108 -108 106¼:-107'{.
... . - .: .. 116 -116 .... - .... 114 -115¾ ... - ........ - .... .... - ... 115 -116¼ 117 - 117½
- - •· .•.. - .... 116 -116
Fai•go & Southern ... (>
Inc. conv., 1916 ...... :i 100 -100½ . ... - ... ..... - ... .. ... - ........ - .... .. .. - ...... .. - ........ _ .. ... .. _ ....... __ ... _ .. _. _ ........ _ .. ..
-105 105 -105½ 105½-105½ 10! -104¼ 101¾-105 101 -HJ.! 100 - 106 1107 -107 105)4-105¾
104
-102½
101
102½
100
Dakota & Gt. So • .. . ~ 100¾-100¾
91 _ 92
80 - 89½ go - 01½ 91¼- 92½ 00½- 90¼ 90¾- 91~ 01 - 01 .... - . . . . 92 _ 02
88¼- 89
Gen. lU.," A" 19S9 ... 4 *86¼:- 87¾ 86¼- 89
Cblc. & Nortbwe8t'nCon8ol., 1915 . ........ , 140 -140 137 -138 137J4- 138¾ 139 -14..2 130½-14.0¼ 130 -139¾ 139¾-139¼ 13S - 138½ 138 - 1:38 138.¼;-HO 136 -138½ 137 - 139
Gold, coup., 1902 .... 7 123¼--124¾ 124 -125 125 - 126¾ 126 - 127 126}4-127}.{ *123¾- 126 126 -126 125 -126¼ 1267-£-127 1125;!4-127 126 -126¾ *121-122½
125½-125¾ 120 - 122:!,13
- .... 125¾·125¼ . . Gold, i·ea-., 190~ ... . .. 7 123½-124¾ .... - ... . 125 - 125¼ 126 -126¾ *123½-127 123 -12i
- .... 114¾-115 .... "-!,lnklna: fund,coup .... 6 116 -118 117¼-117½ 120 - 120 116½-116½ .... - .... 116½ 116½ 120 -120
Sinking fund, coup ... 5 108 -109 108:}.£-100¼ 1007'{-109¾ 107¼-107½ *05½-100¾ 100¼- 111 110 -111 110½-111 .... - ... . 107 -108 107 - 108 108 -100
- .... 108½- 108¼ .... - .... 107 -107
Regl8te1·ed ........ ..... • • .. - .. -· .... - .... • -.. ·_ • • • •
Debentu1·e, 1933 ... -- ~ 105½- 107 106 -107¾ 105¾-105!1:( 105 -107¾ 105¼-106½ 107 - 108 108 - 108 100 - 109 108 -108 .... - .... 108½-108¼ .... _
- ...... .. - . . . 108 - 100 .•... - .... 105½-10.½ 105¾-105¾
Regi8tend ...... . .. .. Ii .... - ........ - .... 105¼-105¾ .... - .... 105 -105
25 yr 8 , deben., 1909 ./i 104¼-105 10!¼-106 106 -107 106 -106¾ 103½-10-1¾ 1 4-½.:105 106:!,{-100¾ 105¼'-106~i 1105 -105¾ 105½-106¾,103½-104¼ 103 - 104
3:-~!1:!~:b~;io2:i:::gi;)5½=105¾ io5¼=10; ·· icl~
=10;½
~~~½=l~~~ ~o~
~1oi" ... = :::: ic;;¼'=105~ ioo =100 ..
ioo➔ =100%1105
=105 .. io5J,,(=105¼ 105¾~105;~
rn -100 98 -100 96¼- 100 00%-- 97 06½- 98 97J4- 97¾ 97 _ ll7
PO - 90
97½- 00
97¼- 98
Exten. bond8, 19'l6 .. 4 96 -100¼ 97½-100
98 - 9S .... - .... . ... - ... ..... - ....... . _ ........ _
98 - 98
98 - 98
- . .. . 98 - 98
Regi8tered . . ..... .. 4 95¼- 95¾ *96¾- 98
. .. 124 -124
- . ... 123 -123 125 - 125 . ... - .... 127¾-127¾ . . ..
Iowa lllidland.-18t.8 .. . . - .... .. .. - . ... 13 l¼- 131¼
Penin8ula, l8t, conv., .... - . .. .
Chic.& Mil.- l8t ...... 7 110!)4- 115 115 -115 110 -116 .... - .. .. 116½-116¼ 117 -117 .... - ... . 113 -113 114!,j;-114½ 115 -115 115 -115 ... .
- ... 126¼-126}.{
- .... 128½-128½ .... - ... 127 - 127 ... .
Wlnonn.&St.P.- 2d .7 ... - .... 1117 -117 .... Iii. & llin.d.- 18t .... 6 .... - ........ - .... 107 -107 105 -105 ....
Ottum. C. F. & St. P .~ .... - .. .. 107¼-108 .... . ... 106½- 106¼ ....
- .... 106:)(- 106¼ .... Nortb. Illinois, llit .. /i . -. - ....... 99½- 99½ 99½- 90¼ 99 - 90
- .... 100 -100
909'(-101 l'l0½- 101
Chic. Peo1·. & St. L.,g .a 07½- 98¾ 97 - 99>.i 96 - 98~4 98½-101
00½ .... - ........ 90½gg
08½07 - 98
(.;on ol. 1st, 1939 .... /i .... - . .. . ... - ... . 95 - 05
t
Chic. R. I. & PacificCoupon .................. 6 121 -123 122¾-124 123!,u-125¾ 125 - 121}½ 125¼-126¼ 126 - 126¾ 123¼- 123¾ 12! - 124.¼' . ... - , ... 123 -124 124 -125 124¼-125~i
. . ... 125 -125
ReKl 8te1•ed .. ....... ... 6 120¾-121 121¼-122 123 -123½ 1U -124¾ .. - .... 123 -125>4 122 -122 .... Exten. & Col .... ..... . 5 *Ol¾-102¼ 102)4-103 101¾- 102½ 102 -10! 103¾-101½ 103 -tlJ3'4 100½-1017-( 100¾-lOJ½ 99¼-101 100½-101½ 101,¼-102 101¾-102½
. . 90½- 09½
.
..
-100
100
-100
100
....
...
90}.{-100
.
.
.
...
-103¾
Rea-t 8tered ..... . .... ii .... - .... 102 - 102 l•>~¼-102¼ 101¼-103 102
95½- 95¼ 95 _ 96
94!)(- 95¾ 95¾- 06
96¾- 96:Ja 05}.{- 96½ 95½- 06}.{ 05¾- 96¼ 95!)(- 08
Debentua·e, 1921. .... 5 95 - 96½1 96¼'- 98½ 95½- 96
98½- 08} 2 100¾-100¾ 100 -100
gg - 99 ... - ... 100 -100 100 -100
09 - 99
Keok'k&De8M.- 18t,li .... - . . . 96½-101 100 -100¼ 97 - 97
. .. . .... - ........ - ........ - ........ - ........ - ........ - ........ _ ... .
78 - 78 .. ..
75 - 77
De8 JJI. & Ft.D.-l8t,4 .... - .... 751--,!- 77
...
-
1
~:~fi.i~J.fliif; ;~; =,~{~;,.:,:;; : : : ::: ; ~ =,~: ; ~ :,;;+:: :: .: . :: : ;~ =,i;
Con8ol., 1930 ........ . 6 120)4-121 120 - 121 120½-i21¾ 122
Chlc.St.P.& M.-l~t .. 6 122 -122¼ 122¼-123 123¼:-124 .. . .
St.P.&S.Clty- 18t .. 6122¼-123 123 -124 123¼-124¼122
Chic. & We8t. Ind. - ... ..... - .... 116
Gen. mort., 193Z ..... 6 .. .. Cln.Hn.m.& Day.-S.f.'7 .... - .... 124 -124 .... - ........
Cln~~:•.~~~~~:21!~·.:
96 ...
- .... 116 - 116
-116
= .... ... .
.9i - oo·· ·9;
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•... - • .. • .. • • .... 88 - 90
.. ..
.... -
• mx-1mereIt.
89¾- 92¾ 90 - 93¼ 88 - 90
00 - 00
=~~~
- 123½ 124 -124¼ 120¼-122 120¾-121¾ 121 -121¾ 121 -122 121¼-122¾ 122 - 122½ 110 -12 ½
- .... 120 -122 .... - .... 121¼-121¼ .... - .'... 123!4:-123¼ .... - .... 120½-120½ .. _
-123 *122-124¼123 -123 125 -125 124 -124 124 -124 121 -1223,jf .... - .... 123 -124
95½= 95¼
.93 = 95½1· 95½=
9a - 95
Rea-i8tered ........ .. .. . 4 ... - . . .. 91¼- 94)4 00 - 00
Consol., 19::l0 ...... •· .6
Cln. San. & Cl.-ht ... :i
Cleve. & Canton-18t.:i
Clev. Cin. Ch. & St. L.Calro Dlv ., lst, 1939.4
St.L,Div., 1st, 1990.4
I : : : :: ;:: =,:;; ;;~..:,;;~ ;;~
: ...
- .... 90 - 9:l
. .. .
1
.... - .... 116 -117
~ ~::1...~...~ :~.......:.
... .
116 -116
90 - 09~2 98 - 99
- 90
- 96¼ 94 - 91¾ 95 - 95
116 -116
116 -117
08 - 08¼ 95¼- 97½ 06½- 07}.{
9-! - 95¾
95 - 95
96 - 96
- .... 106 -106 .... - .... l05,½-107 ·
- .... 106½-106½
90 - 03
ll3 - 95¾ 91 - 92
94 - 04
01 - 91
go - oo
go
- 92
- .... 92 - 92
92 - 92¾ 93 _ 94
... _.
93 _ 91
92 1 - 92¼ Oo _-· Oil
{,1 - 91½ 95 - 95
R.AILR,0.AD
BONDS. .
189~-Contlnn edJANUARY FEBR'RY.
BONDS
---------c. C. v. & St.L.-(l]m.)-
MARCH.
APRIL.
MAY.
JUNE.
JULY.
AUGUST. SEPT'BER. OCTOBER. NOV'BJ!;R.
rJEC'BER.
Low.High Low.High Low.High Low.Hiirh Low .Hi~b Low.IDgh Low .High Low .High Low.High Low.High Low.High Low.Htirh
----
Cln. W. & M. Dlv .... 4 .... - ........ - ....... - .... 91 - 91¾ 91~- 91¾ 91!>(- 92 00~- 90¾ .... - ........ - .... 90½- 92¼ 92¼- 92¾.
.... - ... .
C.C.C.&I.- lst,s.1d .. '7 115½-115¾ 115¾-117 116 -117 117!4-117½ 114 - 116¼ 115¾-116 116¼·117 116½-116½ 116½-116½ .. - ... 113 -115½
113½-113¾
Cln. & Spr., 1iuar .. ,. .... - . .. . ... - .... 112½-112½ . ... - ..... . .
Consol. ................. ,. 128¼-130 .... 132 -132½ 134 -135¾ 133½-lM
General cons .... ... . 6 118¾-120 120 -120 121½-122¾ 122 -1221}:{ .... - .... 120 -123
- .... 123 -123
- .... 123 -123¾ 123 -123
Col. Coal & 1. -ll!lt,con.6 103 -103½ 101 -101½ 100½-101½ 100~,(-101¾ 90 - 100 101 -102 101¼-103 100 -103 102 -103¾ 103 -103¼ 103¼-10-!¾
104 -105
Col. Fuel-iru.,ir. 1919.6 .... - .... . ... - ....... - .. . .
- . ... 106 -106½
Colorn.do Mid .- 18t, g .6 ll.1 - 111½ 109¼-111 110 -110 110½-110¾ 112 -112 108¾-100¼ 10&"- 109 109¼-109)4 .... - .... 109 -109 109¾-110¾ .... 107 - 107½
Conl!lol., gold, 1940 ..4 72!,ca- 74
70 - 71
70 - 70¾ 70 - 70¼ 70 - 70 ... . - ....... - .... 67½- 67½ 66 - 67
66 - 6o
67 - 67
61 - 64¾
Col.H. Val.& T.- ll!lt ... 5 87½- 89¾ 891}.(- 92½ 87½- 89 ~ - 93
93¾- 97¾ 96 - 98
96'¼- 98
97 - 97¾ 93 - 9!½ 91½- 93¾ 91 - 92
90½- 92
Gen. gold, 1904 ..... . 6 93 - 94
9o - 96
96 - 97
96:14-100 100¼:-105 •101 -102 100 -101¾ 100 -101
90½·100
90½- 90½ ll6 - 98½ 93½- 97
Consum.Gas(Chlc) ht.~ 82 - 85
86 - 89½ 85½- 87~ fil,4- 88¾ 88 - 9~ :SS½- 90
88¾- 89½ 89 - oo
88½- 00
88 - 89
89 - 92½ 89'¼- 00
Conl!lol. Coal-Conv .... 6 .... - ........ - ... .. ... - . ...... - .. . ..... - .... 104 -104
Del. & Bud. Co.nal{!oupon, 1894 ........ .. ,- 108¾-109¾ 110 -110½ 110¾-llO¾ 107 -107¾ 107¾- 108 108¼-108¾ 1081),(-108'¼ 109 -100 108 -108½ 105¼-105½ 106 -106¼
l06¼-106½
Reir., 1894 ........... .. ,- .... - .... *107¼-10½ 107½-107½ 107¾-107¾ lQB¼-108¼ . ... - ........ - ....... - . . . . 106 -106 .... - ... .
Penna. Dlv.-Coup .. . , .... - .... 140½-142
- ... . ao -u.
141 -141¾ 141¼·141¼ . ... - ....... - ... . 139¾-139¾ uo -140 138½-139
Regl11tered ............. .... - ........ - .... 142 - 142
Alb.&8usq.- ll!lt,iru ., 127 -128½129½-130 131 -131 128¾-129½ ... . - .... 128 -126
- .... 126 -126 127½-127½128½-1.28½
ll!lt coup., suar ... : .. 6 120 -120 120 -120 120¼-120¾ 118 - 118¼ 118 -110 118½-120 119¼-119½ 119¼-119½ ... - .. .. 117 -117½ 119 -119
119 -119
Reiristered .... . .... . 6 120 - 12J
- ... . 120¾-12~ 118¼-118¼ 118 - 118½ 118 -120
.. .. 120 -120
- .... 118 -118
R.enl!I. & So.r.- lst ... ., .... - . ... 145 -145 145 -145
- . • . 142½-14.2½ 142 -142
Del. Lack. & West.Convertible ..... ........ ,- .... - .. . . 102 - 102
Mort., 190,, .......... 1 .132,¼-l-,2½ .... - . .. . 131,¼-131½ 130 -131½ 133 -133 132 -lM 134 -lM 135 -135
- . . . 130!,:(-131 133 - 134 131 -132
Syr.B'n&N.Y.,ll!l t ..
129½-120½131¾·131¾ ...
131 -131 130½-131 132 -132,¼ 133 - 133 131 - 131 130 -130
Morrll!I & EHex- lst ., 140 -141¾ 140¾-141½ 141 -141½ 141 -142 1:.<9 -140¾ 140½-141½ 141,¼-141¼ 141½-141½ 142 -142 141
-14.2
- .... 138 -139
Bonds; 1900 ... ..... ,. .... - ... . •·· - ........ - ....... - . ... 116 - 116
- . .. 115½-115½ . ... 18,,1-1901 .... .... ·:. ,- 123 -123 124 - 124 .... - .... 121 -122 120½-121½ .. . . - .. . . 122 - 122 122¾-122!14'. 124¾-124¾ .... - . .. 121 -121
120½-121
Consol., guar ... . ..... 1 125½-137 137 - 138 137½-139¼ 139¼- 140¼ 139¾-140½ 136'¼-137½ .... - ........ - .... 137½·137½ .... - .... 140 -HO
137 - 137
Reu:ilttered ..... ... . 7 .. . . - .... 131 -138 . . .. - .... 138¾-138¾ 136 -136 .... - ..... .. .
N.Y. L. & W.- lst ... 6 125 -127
- . . .. 127 -129 .... - . . . . 128¼-129 129 -130 128 -129 130 -130 128 -128 120 -129½ 120 -130 130 -130
Conl!ltructlon .. .. ... . 5 110 -110
- . .. . .... - .... 110½-110½ 110¼-110¼ 111½-111½ '112¾-112¾ 100 - 110 110½-110½ 112½ 114 113 -114 112 -114
Den. C. Cable- ht... 6 99¼- 99~.( 99 - 99¾ 99 - 99¼ 97½- 99½ 99¾- 99¼ .. . . - .. . . 90 - 09
90¾- W'¼ . . . . - . . . . 96 - 99½ 99¾- 9g½ . . . Denv.&RloGr.-l st .. , :;.t6l};(-117 117 -117½117¾-118 118 - 119 115¾-116 116 -116¾117¼-117½ . . . - ... 110 -110 ... - ... . 115½-115¾
116 ·- 117¼
Newconsol, 1936 . .. 4 77¾- 80
79¾- 81
80½- 81½ 81½- 83
82¾- &!% 83¼- 85
82 - 83½ 83¾- 84
83 - fil,4 81¼- 86¼ 85¾- 86½ 85½- 87
Imp. M., Ir•• 1938.. ... 1> 76 - 76
78 - 80
79½- 7P½ 70½- 80½ 81½- 8~ 80 - 81
80½- 81 . ... - . . . . 80½- 81¾ 81 - 85
81½- 86½ 81 - 8!
Det. lU. & lU.-L. g .... 3 ½
38¼- 39),( 37 - 38½ 36 - 37
37 - 43¼ c!O¾- 44¼ 42 - 43
40¾- 42
39 - 4.3~ 38 - 443& 38 - 4H!\ 38.½- 41
Det.B.C.&Alp. -lst .. 6 70 - 75
80-80
80-80 .. .. 73-73
- ........ - . ... 60-63
60-62
68Duluth & J. R.-lst . . . 5 95 - 08 .... - .. . . 10(%-100¼ 97 - 97½ 97 -101¾ ... - ... . . ... - ....... . - .... 100 -102 100 -100½
Dul.S.S.& Atl.-193,-.5 95¾- 96¾ 95½- 96
95 - 97½ 97 - 98¾ 98½-105 104 -105 101¾-102½ 101 - 102¾ 90¾-lW¾ 100¾-101½ 100 -101½ 100 -101¼
.E. Tenn. Vo.. & Ga.1st .... .. ......... .. .... , 111½-112 111¾-112½ 109 - 111¾ 110½-110~ 110 :-113½ 114 - 114½ 110¾-110¾ 111¼- 111½ lll½-111½ 111 .-111 112- 112 .... Dlvll!lional. ............ t>
- ........ - .... 102 -102 103 -103
- . . .. 10! -104 101 -104½ 100 -100
Conl!lol., ll!lt, 1956 .... 5 !i6 - 99
O! - 94¾ 92½- 93X 94.¼- 96
97 - 100
00 - 92½ 91 - 03½ oo - g3¼ 93 - 96½ 92½- 94,
92½- ·0!
90¾- 93
- . . . . 63¾- 64
1st ext. g. 1931 ...... 5 72 - 74
60 - 60
60 - 60
60 - 60
71 - 71
57 - 60
51 - 52¼
Equip. & Imp., gold .. ii 79 - 80¼ .... Knox. & o.- ll!lt, g ... 6 104 -108 ... . - .... 100 -106 100 -100½ 99½-101 101 -103
98 -100
99½-100¾ 98 -100½ 101 -101 100 -102½ 100½-101
Alabama Cent. - ll!lt .6 .... - . .. . 97½- 98
Edison E. 111.Co.- lst.5 99¾-101 100 -101¼ 101 - 102 101¾-102¼ 101½-102¾ 101¾-103 102 -107 105½·109 104½-106 104.¾-108½ 108)4-110½
109 -112
Eliz. Lex. &Big. s .... 6 82 - 02
&! - 87
81 - 81½ 83 - 96¼ 94½- 97..=_ 96 - 06½ 97'¼- 98¾ 98½-100
93 - l-l8~.( 97!,\,- 08
07 - 98½ 95 - 98¾
£quit. Gns. & F.-lst,.6 97 - 97½ 97½-100 98½-100
97½- 99¾ 98 -102 101¾-103 lQ0¾- 101½ 101¼-102½ 101 -101½ 102 -102 102½-102½ 102½-103½
Eqult.Gas,N.Y.-' 3 Z.5 .... - .... .... - ... : 105 -105
~rte & Plttsb.-con .... , .... - .... 111½-111½ .... Erle11~-114½ 114¾-114¼ .... - .... 115¾-116
t8t, Ext., 189,, . . ...... , 114 - 115 114¾-116 .... ... - .... 113 -113
- .... 1137,(-114
2d, Ext., 1919 . .. ...... a l14¾-114¾ 115½-116¾ 116 -116 116 -116 .... - . .. . 117 -117
- .... 115 -115
3d, Ext., 19Z3 .. .... .4¼ 108)4-108¼ 108¾-108¾ 108 -108½ 107½-107½ . .• - .... 100 -100
- .. . . 107},! 108 107¾-107¾
4th, Ext., 19Z0 .. ..... :; 114¼-114¼ 114½-114¾ 116 -116 ... . - . . . . 112 -112 112½-lH
- . . . . .. . - • . .. 112 -112
3th, Ext., 19~8....... .4 101 -102 101 -102 102½-102½ 103 -103 .... - ... . . .. - ...... .. ll!lt, conHl., irold ...... ? 135¾-137½ 138 - 138½ 134¼-136 135¾-136¼ 136½-138 138¾-139 138½-139¾ 139½-139¾ 135¼-136 137 -137½ 136~.t-137
137 -137½
,-1 ···· - ...
~::::::~: !!•t~r::·::: ii.i½=ll2 .. :::: = :::: ::::
ii4
=1i~·-j--::
=:::: ·:::
=·::: ::::
32
32
= ::::
= :::: :::·
= ::::;::: = :::: ::::
= .. . .... - .... l ½-l ½
Lonir Dock. 1893 ... . ., 10-!¾-10-!½ 1019:(-10!:)4 104¼-105½ 105,¼-105¼ 106 -106¼ *ioZ½-03¾ 103½-103½ 103%-104 103¾-103¾ 103¾-103¼ 103¼-104¾
100¾-101
Cons. gold, 1935 . .. 6 119½-119½ 120½-121 .. .. - . .. 117¼-118¾ . .. - . . . 121½-121¾ . .. - ... 122¾-122¼ .... - ........ • .... 119½-119½
122 ·122
Buff.N. Y.&E,- 1l!lt.7 ... . - .. .. 136 -136 135· -13f>
..• - • • .. . .•• - ... . 135 -135 133¾-133¾ . . . - . . ..... . - ........ - .... 137¼ ·137¼ .... N. Y.L.E.&W.-2dcon .6 106½- 107¾ 106¼-107¾ 106¼-107¾ 1069:(-108 107¾-109½ *lW½-106 104¾-105¾ 104½-105½ 103½-105¾ 105:;s -107¾ 105½-108
101 -102¾
Col. Trust, 1922 .... 6 100½-100½ . ... - . . . .
- . . .. 113 -113 112 -112 112 -112
- . ... 112½-112½ .... - ........ Fund. coup., 1969 . . 5 90x( 92¾ 02½- 9!
93 - 03¾ 02 - 95
93½- 93½ 91 - 92
91½- 92
- . . . . 92½- 92¾ . . .. - .... 88 - 88¼
Income, 197, ..... . . 6 ... - ........ - ... . 81 - 81
Jefferl!lon RR.- lstg.5 104¼- 104¼ ... - . . ..... - ... . 103¾-103¾ .. . . - ..
. . . . - .... 105½-105½ .... - ... . 101¼-101¼ .... - .... 102¾-lOZ¾
Chic. & E., 1st, Ir • .4.i, 97½-100¾ 101 -102}4 102 - 102½ 102½-104½ 102 -102½ 101¾- 102½ 101½-102 101 - 102¾ 101 -102½ 10~¾ JO:l% 101 - 101¾
101¼-101¾
Income, 198Z ........ . . 48 - 52
52 - 53:l:( 51½- 53¾ 51~- 52
49¾- 51½ 50 - 50½ 48¾- 52½ 49¼.- 53
45½- 48
4.2½- 4.5
4-!:¼- 4.5¾ 40½- 43½
Eureka Sp'irs., 1l!ltlr ••· 6 . ... - .... 101¾-101¾ ... . - ... . .... Ev.&lnd'p,con.,1 926.6 108 -111
- ..... . .. - . .. 112 -113½ . ... - ... . .... - ... . ... Ev. & Rlch.- lst, '31.:) .. .. - ... . 100¼-101 100½-100:¼ 99 -100~
Evan-vs. & T. H.-Con.6 117 -119½ ... - .... 122)4-122¾ 1~3 -123 123½-124 12c!½-125 122 - 122 123 • 123 122½-122½ ... - . . . . . . .
- .... 122 - ~
Mt. Vel'hon- lst ....... 6 .... - .... 112 -112 •.• • - •••• 110½-110½ .... - •. .. 112½-112½ .... - .... llG½-117 .... Fllnt&P.Mar.- lllort.6 120 -mo 121 -121 122 -124 121 -12!: 121 -122 .... - . ....... - .... 121¾-121¾ . .. . ll!lt conl!I., Ir•• 1939 ... 5 101 -102 101½-101½ 100 - 101 102 -102¾ 100 -100½ 100½-100¾ .... - .... 101½-101½ . . - . ... 100 -101½ . ... Pt. Hur. Div., 1st . . . . a 101 -101¼ .. .. - . . .. 101¾-lW *101¾--02¾ 101½-102¼ 101¾-102¾ 102 -102½ 100¼-101 100 -100
07½- 98
06½- 08
961/s- 9 ½
Ft. W .& Denv.C.- ll!lt .6 98¾-102 101 -102 101 -101½ 100¾-102 101,¼-105 90½-101 100)4-101 100½-101 100 -101¾ 100¾-101½ 101
-101¾ 96¼- 98
Ft. W. & Rio G.- lst .. 5 72¾- 75
74½- H~ 74 - 74
70 - 74¾ .. .. - .... .... - . .. . 69 - 73
73 - 73
74 - 74
73 - 73
72 - 73
69 - 71½
Galv. H. & H. of'~2.. 5 75½- 77½ 74 - 75 .. .. 73¼- 73¼ 73½- 73½ . . .. - ........ - . . .
- . . .. 70½- 71
69½- 69¾
G.H.& S.A.- ll!lt 1910.6 .... - . . . .
- .... .. . . - ... .... . - .. .. 101½-101'¼ .... - . .. .. . - . . .. 100 -106 .. . . 2d, 1905 ... . ...... .... .. 7 97½-100 lOi - 104 .... - .... 100 - 102 100 -102 ... . - . ... . . .. - .... 102 - 102 102 -102¾ 102 -102
Western Div-ht .... 5 9~- 97¾ 97¼- 97¾ 97½- 98¼ 97¾- 98¾ 95¾- 06~,! 96¼- 90¾ 97¼- 97¾ 97¼- 98¼ 08 - 08¾ 98¼- 99 OG½07½ 96¾- 96¾
Gen.Elec.-Deb.,19 ZZ.5 .... - ........ - ........ - ........ - .... 99¾-102¾ 101 - 105¾ 103 -104.½ 104½-106½ 10!:¾-105¾ 99½-101
GJ1,.So.&Fla.- hr,1r .6 75¾-76¾ 75¾-77¾ .... - .. :. 75 -75
- .... 75'¼-77½ 76 -76¼ 76¾-77
70 -77 .... - . . . 80½-80,¼ .... - ....
Ga. Co.r. &N.-lst ..... 5 .. . . ... . .. .. - .. .. ....
- .... 101¼-101¾ 101 -101 100¾ 100¾
Gr. Rap.& Ind.-Gen.5 82 - 82
83 - 100½. ...
. ... 76 - 76
77 - 81 . .. . - .... 76,4- 79
Gr. Bay Win. & St. P. lst, 6s, tr. receipts .... .... - .. . .... . - . . .. 97 - 104
- .... 101 -107¾ 106 -106¾
2d inc., all i,ubs. po.Id . 36½- 38 35¾- 37
36 - 37
29 - 33¼ 29¾- 30 ... . - .. . . 30 - 33
33 - 36¾ 33 - 36
34¼- 37¾ 34½- 40
37½- 40
Hack. Wat. Reor lst.5 .... - ........ - .... 107¼-107¼ . . . Han. & St. Jo.-Cons . 6 117 -118½ 118 -118¾ 115)4-116¾ 115 -117 117¾-1177..-s 117 -118 117½-118 118 -118¾'114 -115 114.½-115 11:;¾--116
116 -117¾
Henders'nB'dge-l i,t. 6 .... - ....... . - .... . ... - ........ - . .. . .... - ... . .... - .... 108 -108 · .... - ····f112 -112
Houl!lat'c-Con.,19 3'7 .. 5 103¼- 104 . ...
... . ...
• •.. 10-! -104 101½-101½ .... - .... 108½-100 100 -100
- .... 115 - 115
lU -lU¼
N.H.& Derby-con11.. :i 101 - 101
. . . 104½-104½ 1037-(-103¼ 104¼-104¼ ....
- ... . 111¾-111¾ .. . 1
1
1
Houl!I. & Tex. Cent.j
,
ll!lt, irold. 193,, ... . ... 5 *101½--05½ 104½-105¼ 103¾-104'¼ 104 - 107 J105 - 106¼ 105¾-108 104¾-lOOM 106¾-107¾ 106!)(-106¾ 106 - 108 107½-10&'}!;
105 -108½
Conaol., irold, 191Z .. ti 101 -101¾ 101½-101½ !103 -103 101 -101 j101¾-101½ .... - ....... - ....... - ···· 1102 - 102 101 -101¾ 102 -102½
102½-103
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Federal Reserve Bank of St. Louis
• 'Ex-!'lterest.
R.AILBO.AD
85
BONDS.
1892- Conttnned.
BONDS.
JANUARY FEBR'RY,1 MARCH.
~Y.
APRIL.
JULY.
JUNE,
AUGUST . 8EPT'B ER 0CTOBEB.. NOV'BER.
DEC'BER.
Low.High Low. H igh Low.High Low.High Low.High J,ow.High Low·. High L ow.Hlp;b Low. H igh Low.High Low.High Low.High
---- -- ---- - - - - - - -- --- ·- --- ---- ---- ---- - - ----------1---Hou 11 .& T.Cen.-(Oon.)Gener al, 1rold, 192Vl 64¾- 65¼ 64 - 64¾ 64 - 64¾ "'611}.(- 62¾ 61½- 6-1¼ 64 - 65¾ 631}.(- 64½ 64¼- 66¾ 66 - 68½ 65 - 67½ 65 - 67½ 66¼- 68
87 - 87 1 89½· 92 . ... - .. .. 87½- 87½ 90 - 90 .. .. - .... .. .. - .. .. 87½- 87½ 90 - 90 . . . . - . . . . 89 - 89
Debenture, 1 8 9,., .... 6 81 - 83
- . . .. 80½- 82 .. .. 78 - 78
69½- 71 .... - . . . . 70 - 70 .... - ...... .. - . . . . 75 - 78
Debenture , 1 ~ 9,-..... 4 . - .. . . 66 - 69
Waco & N. W .- l!lt .. ,- 110 -110 125 -125 123 -123 125 -126 126 -127 124¼-125 .... Illinois Centi·al93 - 94
Gold, 19~ H .......... 3 ¾ 00½- 91 02½- 92½ 02½- 03½ .... - .... 94. - 9!¼ .... - ........ - .... 03 - 93 93½- 03½ .... - .... 95 - 05
- . ... 104½-104½ .... - . . .. 104¾-106 105 - 105 .... - ........ l11t gold, 19~1 ........ 4 105 -105
99!,4-100 100 -101½ 100)4-100¾ 102½-102½ 102½-104½ 102 - 102¾ 100¾·100!1:( 100¾-100~ 100:1:(-100¾
Gold, 19~2 ............. 4 96½- 98 99¾(-102½ 101 -101
98½- 99¾ .... 07¾- 97½ .... - .... 98 - 98
- ... . 97 - 07
Cairo Bridge, 19~0 .4 .... - ....... - ........ ·· .. ...... - .... 108 -108
S prlngf. Div, , 19~8 .. ti .... - ........ - ........ - ........ - ........ - ... . .... - .... 111¾-111¼ .. . . - ... 112 -112¼
C.S t. L .&N,O,- 1st,c,7 .... - .... 112¼-112¼ 112;14'.-114 113 -113
Gold, c oup ............ ~ 112 -112¼ 1137,(-1137,{ ll3¾-115¼ 1157,{-ll5¾ 116 -117 115!,4-117¼ 115 -115 116¼ 116½ 116 -117 116¾-117 116~-117¼ 115 -116
- .... 112 -112 114 -114 .... - ........ - .... 114¼-114½ . ... Gold, reg . ............. ~ 110¼-110½ .... - ........ - . ... 96!,ii- 96½ .... - . . .. 96 - 06
Memp. Div ,, lst,1r., 1J 93 - 94 96 - 97 ... . - . . .. 92½- 953,s 07 - 08 96 - 96¾ . .. . - ........ - .. .. 102 -102 102,t- 102¾ .. .. - ....... - .... 102 -102 102 -10~
Dub. & S . C .. :ld dlv .7
91 - 01
91 - 93
93 - 93
Cedar F. & ill., 1st ... ? 88 - 88 88½- 88½ 88 - 88)4 80 - 80 89 - 80 88½- 88½ 91 - 91
- .... 120 -12014 122 - 122 .... ...
.
120½•120¼
-122
121
119¼-121
-120¼
117
115¾-115¾
....
7
.
Ind, D. & S pr,- lst,t
Do trust 1·e ceipts .. 110 -113 114 -116 114½-120!,t 119 -121 121 - 122 120¾- 121¼ 120¼-120¾ 120 -120¾ . ... - .... 118 -122 122 -124 123 124¾
- .. . •. .. - ... . 130!4-1:n
- .... 130 -130 .. . Intern. & Gt. No,- lst.6 118 -123 122!,(-125¼ 128¼-129 .. . . - ........ 106 -106½ 108 -112 108¾-112 108 - 100½ 106¼-108 10~ -109¼ 109¼- 110 110 -111½ lll¼-113 109¼-109¼ 108¾- 109½
Coupon off.. . .......... .... 78 - 82 . ... Coup., 1909, tr, rec .. 6 76 - 82
73 - 7!1/}.! 71 - 74½ 74 - 77¾ 77 - 78½ .... - .. .. . .. - .. .
75 - 75¼ 74)4- 75
- . . .. 76 - 70
Stamped ................ .... 69 - 70½ 67½- 69;:f os - 68
- . . . . .. . . - . .. . 70 .. 70
2d, 1909 .......... .4 ½- 5 ...
31 - 31
3d, 1921 ............... 4 .. ..
87 - 88½
88¼- e9¾ tl9½- 90~8 90 - 91
92 - 93¼ 9~¾- 9! *90 - 91¾ 80 - 90¾ 80½- 90
92½- 95
02 - 96
Iowa Cent,- lst, g old .. l} 89½- 92
76 - 77¾ 77 - 77¾
77½- 77½ 76½- 76½ 76½- 78 *76 - 76
76 - 77
75 - 76½ 76 - 78½ .. .. - .. . . 77 - 78
Kan, & Mich,-• 990 .. 4 73½- 74
85 - 85½ 84 - 85
83¾- 85
83¼- 84
83 - 81 1 83½- 8!
84¼- 85¼ 84¾- 86
82½- 83¾ 83¼- S!l,4; 83¾- 85
Kentucky C., 19S ,. ..... 4 *81 - 84
Kings Co. El.- t st, A .I} 90 -100 97½- 90½ 07½- 98½ 97¾- 98¾ 08 -100 101 - 102½ 09 -100¾ 99 - 100¾ 98¼-100 09½-100¾ 09½ -100 100 -102
87¼- 88¼ 89½- 92
88 - 88
88 - 88
88¾- 813¾ 90 - 90
88 - 00
86 - lj6
Fulton .W ., lst,guar.l} .... - .... 87½- 89¾ 85 - 85 1 85½- 86
83¼- 85¾ 84 - 85½
83¾- 85
82 - 84.
Lael.Gas, S t . L. - ht, g .l} 81¾· 84¼ 81½- 82¾ 80 - 81¾ 80½- 82 81 - 85¼ 83 - 84.:iR 81¾- 84½ 82%- 85
Lake Erle & W.- lst .. l} 107!,:i-110¼ 109¾-111 109½-111 110½-111½ 111½-113¾ 113 - lH jll0¾-111 110¾ 111 109 - 111 110¾-111 111 -111 110 -111}4
2d .......... . ............. ~ .... - ........ - . . .. 96 - 97,4 96¾-100½ 100½- 101½ 101¾-104 09¾-100½ 101 -101½ 101 -101½ 100½-101~11101¼-103 103 -103½
L Shore & lllich, Mo,- .. . 114¼-114½ 114!,(-114¼ .... - .... 117 - 117
Dlvlston ... .............. 7 .... - .... 117½-119½ .... - .. . . llv½-115½ 115¾- 115¾
100¼-101½ 101~!{-101¾ 102 - 102
cl\ Palns.&Ash ..... . , 104 -104 103½-105 .. . Buff, & Erie-New .... 7 11!! • 115 115½-117 116¼-117 .... - .... 113,4- 113¾ ... - .... 116 -116 115½-115!>1. 114½-114½ .... - ........ - .... 114¼·114½
- .... 125 -125 . . .. - ...... . - ......•. - ...
. .. - .. . 127 -129 .... Det. M-0n. & Toi. ..... 1 120 -129 124¼-124½ 126 -1213 125½-127
1st con,, coup .......... 7 120 -120½ 120¼-121¾ 120½-122 121½·122½ 122 -122¼ 123 -123 120 -120¼ 120 -121 119 -12098 120¾-124½ 121 -121
l11t con ., reg ............ 7 118¾-120 120 -121 122 -122 120 - 120 120½-121¾ 118½ 121½ .. . - .... 110 -119 119 -119 118 -110¾ 118½-119 117¼·118¼
~d con,, c oup .......... ., 122 -123 122½-123½ 123 -124 122 -124½ 122½ -1213 121¾-12!:½ 1~2¾ -124 123 - 12:3¾ 123 - 124 123 -123¾ 123¾- 125 121 -122
~d con,, reg ...... ...... 1 121 -122 121\14-123 123 -123 123 -123½ 124 - 124 121½-122~!{ 123 - 123 123½-123½ 122¼-123¼ 122%-123~ 123¼-124 121 -121
Mabon.Coal lst,' 3 4 . 5 .. .. - ..... . .. - .... 108 -108¼ 108½-108½ 110½-110½ ... - .... 108 -110 . . .. - ... . . .. - ........ Leb.V.,N .Y.-t stgu .g. ,lJ.~ 100¾-101 101¼-101¾ 101¾-102¾ 102¾-103!,4103¼-104 104 -106 103½-104¾ 1031¼-104 104 -104¼ 104' -104½ 103%-104½ 10-1 -104¼
Leh, V,Ter.ls t, 1941 .. ~ 100 -109 llO -110¾ .. .. - .. . . 109 -100 108¼-109¾ 110)4-111 111 -112)4,112½-112¾ 112;14'.-112¾ 110 -110¾ 111 -lll 110¾·111½
... - . .. .. .. - .. . .. ..
- .. .. 68 - 68
L. R,&l'tlem, lst,193,-.tJ .. ..
L onir Islo.nd- .. .. 112 -113
- .. . . 115!!:(-116
lst, 1898 ............. . .. , 117 -118 117 -117½ 117½-117½ 119 - 119 115 -115
111t. eons ol, 1931. ... .. I} .. .. - .. .. 114 -115 .... - .... 113 -113¾ 113½·113¾ 114½-114½ 114 -lU 116½·117 116 -116 115½-115¼ ll5),g-115½ 114½-116
99 - 99 .... - . . ..
97½- 09
Fe~ry, 1st, 192 ~ . .. 4 ½ .. ..
93½- 95
03¾- 05
94¼- 96
07½- 97¼ 05 - 95
94½- 97
0!%- 07
96 - 97
04 - 90
93½i- 94¾ 03 - 9i
Gen, mo1·t. , 193~.. .. 4 91 - 93
N. Y, & R. B., 1st, g.l} .... - .... 102 - 102 101 - 101
- . . .. 100 -100
N. Y. B. & M. B., 1 s t.I} ....
81 - 85
8! - 87½ 87½- 87½ 86¼- 86½ 85 - 86½ 81 - 85
91 - 91
86 - 92
L ,Ev.&St.L,-Con.l s t 5 82 - 83¼ 80 - 82 82 - 82½ 82½- 85
Louisvill e &Nashv.Consolldated ...... · .. . 1 11 -114½ lli¾-115 114½-115 111¾- 113 112%-113½ 113 -113½ 113¾-ll3¾ 114¾- 114~. lH -114½ 110¾-111½ 111 -111¾ 111 -111)4
- .. ... ... - .... 108¼-108¼ .. . Cecillan Branch ... . .. , 109 -110 109 -109 . . .. - ... . .... - .... . ... - .... 120½-121 121 -121 120¾-122
N, 0 , & lUob-lst ..... 6 117¾-119 118¾ ·119 119½-119¾ 119¼-lllO 120 -121 121 -121½ llS¾-119½ ... -
I
2d .......... ......... · ·· .6 108 -llO
.... - ........ - .... 109¾-110½ 110 - 110¼ .... - . .. . 109 -100
.. . . -
- .... 113 -113
.. - ........ - .... 116 - 116 113½-113½ ... . - ........ - .... 113 -113 114 -114
E. H, & Nas h,- lst ... 6 .... - ........ Gener a l mor t . ...... ... 6 115)4-116 116 -116 116¼-116¼ 116)4-117 118 -119½ 115¾-116¾ 116!,4-117 .... - ... 116 -116 117 -118½ 118½-120 116 -117
- .... 105¼-105¾ 107 -107 . ... - .... 107 -108
110 -110 107 -107 107 -107 110 -110 .. .. - ... .. . .. Pensa.cola Div, .... . .. ti .... 62 - 62
62 - 62
- .... 62 - 62
S t . L. Div,, 2 d 1980 . 3 .... - . . . . .... - .. .. .. .. - ... . 62 - 62
113 -113 114 -114 113%-113¾ .... 112½-113
....
...
115¾-115¾
115¾-115¼
115
114½-114
114
-114
114
.
...
....
,
......
ecatur
D
Nash , &
1
Pensac. & Atl,- lst .. 6 106 -106 104 -104 103 - 103¾ 103 -104 104½-104¾ .... - .... 104 -104 101 -101 101 -102 101¾-101½ 101¼-103 102 -102%
:JO-y r. gold, 1931 ... -~ 101½-102¾ 103¾-103¾ 103 -105 1106 -100 102 -104¾ 103 -104¼ . ... - .... 102½-102½ .... - .... 103¼-103½ 102 -103 102 -103½
79¼- 83½ 80¾· 81¾ 81¾- 8'?%
79 - 80
79%- 80¼ 79¼- 80
79¼- 80¼ 80¼- 81¾ 81 - 81% 81½- 82
Unified, g old, 1940 .. 4 78¾- 80¾ 78¼- eo
Col. tru8t, g., 1931 ... 1} 101½-101¾ 101¾-103 103 -103¼ 10!¼-104¼ 101½-101¼ 102 -103½ .. .. - . ... 103 -103 102½- 102¼ 102¾ 102\14 .... - ... 102 -102½
Nash,Fl,&S,, l s t ,g u. l} 100 -101 *08 = 99½ 08½= 08½1 -- ·· = ... 100½=101 101¾=101¾ 101½=101½ .... = .... 100¼=100¼ .... : ......._. = ........ = ..
03¾ 03¾
95
9o
.. .. 903,s 90¼ 90¾ 05
... . ....
Oi½ 01½ 94½ ... .
. ... 90½i 9!½ O!
93 ....
03
S o.& No . Ala, c on,g u.:; 92 - 97
Lou.N e w A lb. & Cbic,lst .. ......... . . . . ....... . 6 108¾-110 111 -111 111 - 111 112 - 112 111 - 112 112 -113 110¼-110½ 110¼-111½ 110 -111¾ 111 - lll 112 -112½ ll2¼-t14½
90 - 100¾ 100½-102¼ 101:)4-103¾ 102,½i-103 101%-103¾ 102,4-105 100½- 104¼ 104½-106¾ 106 - 107;1,!
Con., gold, 1916 ... .. . ti lOQ¼- 102 101!,:t:-103 102 -103
74 - 77
74 - 75
74 - 76¼ 75 - 77
74 - 75
- . .. . 69 - 78¾ 68 - 75¼ 7! - 75
Gene r a l, g ,, 1940 .... ,'i .... - .... . ... - .... 81 - 81
- .. .. 05 - 95 .... - .... 95 - 95
95 - 05
L ouis. N.O.&T.- lst .4 86 - 86 86 - 86 85 - 85 85 - 85¼ 85 - 85½ .. .
96 - 99½ 10Q¾-100.}1i .. ..
Louisv. R y , - lst, c on. i> .... - ........ 04½- 05¾ 9!¼- 95½
ll5 - 07
95 - 98
93 - 94¾ 91 - 100
L,St.L,&T.-l s t,g-.' 17.6 87¼- 96¾ 02 - 95 92 - 94½ 90 - 03½ 91½- 96 93 - 95
51
48½53½
50
53½
49
....
........
.
.
..
48
48
....
....
lllan . B. H ,& L. - Gen.4
95 - 08
92 - 94
- . . . !l4 - 95
Man bat., con s ., 1990 .4 .. . - .. . ..... 100 -100 ... . - . . . . 83 - 90 .... lllem,& Chn.s ,- Gold .. . ti 100¾-101½ 98 - 08 98 -100½ 98 -100¼ . ... 1st con,' Tenn, lien ... 7 .... - ........ - ........ - .... 117½-117½ .. - . ... 118,½i -120
Metropolitan El.- lst .. 6 113½-116½ 116 -118¾ 117- 117½ 117 -118 117½-1193,s 119 -120¼ 116½ 117 117 - 118½ 117½-118 117½ -118½ 118 -118½ 11~ -119
2d, 1899 . ...... ..... . ... 6 105)4-107 107½-109 108 -109½ 108 -109½ 106%-109½ 10~½-110 108¼-109¾ 108½-100 108¼-109 108¾-109 105~-107 106 -107
Met. Telep. &T.- l s t .1) 103¼·103¼ ....
Mex Cent.- Con.1911.4 70¾- 70¾ .. .. ~d, cons, Inc,, 1939. . 3 37~s- 37% .... 96 - 96 .. .. - .... 95 - 99
lUex, Nat'l- lst, 19:U .6 .... - .... 05 - 05 .... 43 - 44 . . .. - . . .. 46 - 46
. . .. . .. . - .. .. 37 - 37
2d Income "A" ........ 6 40 - 40 .. .. 8¾- 8¾
ll¾- 10% 9 - 9
O¼- 9¾ . ... - .... 1 10 - 10
2d Income, "B.'' .... 6 11 - 11
llllch, Cent-lst,consol.1 121½-123½ 122¾-123½ 123 -123¾ 123½-124½ 121 -122½ 122 -123¾ 123 -123¼ 122¼-124 121½-122 122¾-123 1193,s·llO¾ 118½-119½
1st , COnl!!ol. .. . ..... . .... :, 107 -107 106:1:(-106¾ 106¾-107 107¾·108½ 106½ 107~i107 -107),g ... - .... 108 -108 107 -107 108 -108 106 -106 .. .. - .. ..
- ···· 1119½-119½ .. .
1909 .. ... ....... ...... ti 119 -110
- .... 112 ~112½ 112½-113
Coupon, 1931. ....... .. ~ 111½-111½ .... - . ... 110 -110 111 -112 111 -111½ 113 -115
115
..
..
-llO
llO
113
··
•·
....
i;
.....
1931
Registered,
- .... 100 -100 .... - :::: :::: - :::: : :::
1'tlo1·t1ia1re, 1940 ...... 4 100 -100 90 -100
- ·· ·- .... l'tlll, L. Sh. & West.1st ... . ........ . ........... 6 123 -125 124 -125 124 -125 126 -1277,( 123 -125½ 126 -127 126¼-128 127 - 127¾ 127 -128 127½-127¼ 125 -126½ 124½-127
1
102 -102 105 -105 105 -106
- .. .. 106½·106¼
- .... 105 - 105
Conv. deb, 1901' ...... ~ 106 -106¼ .... - ...•
.... -
I -
...
fn~~!,~.~~•.'.~.-.~:.":.:::: ~: =~~ ~~~
illlchlaian Div., lst ... 6 120 -120
Ashland Div., t in .... 6 122~-124
S t. P.E. & Gr. Tr., 1st . ... -
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Federal Reserve Bank of St. Louis
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123¼ -124121 -121 .... - ... . 12Q¾-120!Jt . .. - .... 123 -123
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t Ex-funat1d
COUl)Oll.
i Voupon off'.
- 107¾ 105¾-106¾ 1063,s-107½ 107 -108 106½-108¾
107 - . . .. .. .. - .... 109 - 109 .. . . .... - .... 125¾-125¾ . . . . - .... 123 -123 123 -125
123 -123 123 -123½ .. . . - .... 112½·112¼ .. . . -
RAILROA.I> RONDS.
1892 - Contlnued.
JANUARY FEBR'RY. MARCH.
MAY.
APRIL.
AUGUST. BE PT'BER. OCTOBER. Nov'BER. D E B ER .
JULY.
JUNE.
-------------1-----1----- ---- - - - ---- -----,-----•--·-·-
BOND S.
- - - - - -·- - - - - - Low.High Low.Hlirh Low.High Low.High Low.High Low.High Low.High Low. H igh Low.High Low.High L ow .Hi!?b Low . High
llltl. & No.-lst, 1910 .6 111¾-lll¾ 113½-114 114 -114 114 -115 115¼-115¼ .... - .... 114¼-115½ 117%-117% .... - .... 116½-117 llf -117 .... _ .. .
1st, on exten ., 1913 .. 6 lll¼-113¾ 114 -114 113 -114 114 -115 116 -116 lH½-114½ 114½-115 116 -117 .... - ........ - .... 116½-116½ 113,½-114
Minn. & St. L .-l s t ... 1 120 -121 .... - ..... ... - ........ - ..•. 122 -123 126 -126 .... - .... 120 -129 129 -129 129 -129 128½·131½ 128½-128¼
Iowa Extens ion ...... 1 .... - •.. . . - .... 115 -115 .... - ... . 117½-117½ 122½-122½ 125%-125¾ 129 -131 .... - ........ - .... 133 -133 .... _ .. .
80 - 85% 90 -102½ 102 -102 .... - .... 102 -105 .... _ .. .
73 - 73 .... - ........ - ........ - .... 75 - 75
2dmort., 1 8 9t . ....... , 70 - 75
Southwest Ext., 1st. 1 .. . . - ........ - .... 115 -115 .... - ... . 115 -115 116 -118 122½-124c 127½-127½ .... - ........ - ........ - ........ _ ... .
Pacific Ext., 1 st ...... 6 .... - ........ - ........ - .. . . · · .. - .. · · .... - ........ - .... 103½-103% .... - ........ - .... 105 -110 113 -114½ .... _ .. ..
106 -107½ 111 -115 116 - 116
93 -105 .... 82 - 90
81½- 82
Imp, &equip., 1922. 6 .... - ... 70 - 70 70 - 70 .... - .... 75 - 80
Mo. Pn.c,- lst consol ... 6 107 -108 107½-108¼ 107¾-108 109 -109½ 106½-108 107 -107 108 -109 109¼-lll¾ .... - . ... 113 -113 109½-UO 100 - 110
3d, 1906 . . .............. 1 112½-115 115 -115 116 -116 .... - . ... 112¾-112¾ 112½·112¾ 115 -115 115 -115 .... - .... 116½ -117 llll,i-114 113 · 114¼
90 -90 .... - ........ - .... 89 -00
Trustgold, 191, ..... 5 .... - ........ - .... 90 -90 .... - ........ - ........ - ........ - ... . 90 -90
79 _ 81¾
83 - 83
79 - 82¾ 81 - 82½ 81½-· 83
81½- 82½ 81½- 81½ 81 - 82
80½- 82½ 82 - 82
81 - 8-i
1st, c ol ,, g old, 192 0 .5 82½- 85
g7 _ 98
96 - ()8
971¼ 97½· 98
97¼97¼
96%99½
98½99½
99
98 - 98¼ 98 - 99½
98¼- 9fl½ 07 - 98
Pac. of Mo,- lst, e xt .. 4 100 -100
2d, 1~91 , extend .. . . 5 *02¾-105¼ 104 -106 105 -105 1061}.1-107½ 107 - 107½ 109 -109 105 -107 106¾-106¼ 1061}.1-107 106¾-106¾ 107 -107 106¼-107½
Mo, Kansas & T e xns70¾- 80½ 70¾- 80½ 71-l - 80¼ 79%- 80¼ 80¾- 8lt~ 7() _ 80¼
lst, gold, 1990 ...... .. 4 79½- 81¼ 80¼- 81½ 80 - 81¼ 80¾- 81¾ 81¼- 83 *70 - 81
4fi½- 48½ 47 - 49¼ 45½- 47¾ 46 - 47½ 46 - 48¼ 46¼- 4 9½
49½- 51)1\ 49½- 50½ 46 - 50
2d, Income, 1990 ..... 4 46¾- 51¾ 48 - 52¾ 49 - 52
rn - 76 .... - ... .. ... - .... 67 - 69 .... - ....... . _ ... .
74¼- 75
K.C.& P., lst , 1990.4 75 - 77 74¾- 76¼ .... - . .. . 75¾- 75¾ 75 - 77
Dn.J . &W. , l st,194 0 .a 88¼- 89¼ 88¾- 99¼ 88¾- 80¼ 89½- 89½ 86½- 87½ 87 - 87½ 87 - 87¼ 86 - 86 .... - .... 87 - 87 .... - .... 80 _ 80
llloblle & Ohio- N\lw .. f j 115½-llCl 115½-116½ 115¼- 115½ 116¾- 117 117 -118 116 -117 .... - . ... 116¾-117 117 -117½ 118 -118 117!,j,- 110 . . . _ ... .
.. - .... •111 -116 . . . - ........ - ........ - ........ - ... ..... - ........ - . .. . .. - .. ..... . _ .. ..
1st, exten, , 1927 ...... 6 .... - ... 112 -112
59½- Ol:60¼- 62
61¼- 62
64¾- 65¾ 61½- 63
63½- 65
Gen, lll., 1938 .... .. ... 4 60 - 67% 63 - 66½ "61¾- 64½ 61½- 63% 63¼- 66~ 63¾- 66
- . ....... _ . .. .
.. - ....... - .... 112 -112 112 -112 .... Mo1·gnn' s L.&T.- l s t .. ti .... - .... 109 -109 .... - .... 110½-110½ 111 -111
123 • 128 120 -1:.!6
1st, 191 8 .. .. . ..... • • .. •,- .... - ... • ... - ........ - . .. . . . . - .... 12'1 -124½ 124%-125 124½-125¼ .... - ........ - ........ Mutual Un . T,·-S. F .. 6 107½-107½ .... - ... 108 -108 109 - 109 106½-107¾ 110 - 110 110 -110¾ .... - .... 111 -112 111 -11'.3 110 -110½ 111 -111½
Nn.shv.C.& S t.L,-lst . 7 126¾-128¼i 128¼- 129 127 -128 127½-129 128 -130 130¾-132 129 -129 1281>.(-120 12: -127½ 127 -128½ 127¼-128¼· 128¼-120
Consol. g., 192 8 . ..... :i, 103½-105¾ 104 -106 105½- 106 103½- 103% 105 -105% 105!,:(-105¼ 105 -105¼ 105½-105¾ 104¾-105½ 102 •102½ 102¼-104 102 -103¾
90¾-100¾ 100 -103½ 102½-103½ 102½-105 104 -105 105 -107 104½-105 104 -105
Nat. ~tn.rch Mfg. - lst .~ 101 -103¼ 103 -103¼ 1102½-103 102½-103
.... - ........ _ ... .
.. .. - ... ... .. - . . . .
N. J. S outh.- 1899,1ru.ti .... - . . .. .. . - .... 108 -198 .... - ... . .... - .. . .. .. - .. . .
- ........ - .... .... _ ... .
N.O.&N . E. - Prlorl.6 106 -106 .... - .... 1.... - ........ - ........ - .... 108 -108 109¼-109¼ .... - ........ - ....
j
I
New York Centro.IExtension .............. a 101¾-102¾ 102¾-103½ 103 -105 103%-103¾ 101)4-101¾ 101% 101¼ 101½-102 101%-102 1011>.(-102¼ 102¾ 102½ 100¼-100¾ 101 -lOl ½
N. Y, O.& H.- lst,cp .. 7 123½-125 1124½-125½ 125%-126 ;126½-127 127 -127½ 127¼-129 124½-125¼ 124½-125½ 12<1 -125 121 -125 12<1½-125¼ 125 -125¾
... - .. . . . . . - ... 124½-l24 ~1
lBt, reg .......... ...... 7 123 -123½ 124½-125 125¼-125¾ 126 -126¾ 126¼-127½ 125 -128 125 -125 123 -125 124½-125
Deb., 1884- 1904 .. . 5 108½-lOO¾ 100 -110 107¾-108 j108 -108½ 108 -109 .... - . . . 108¾-109½ 100 -110 101 -107¼ 106 -101 106¼- 107 106 %- 107 ¼
Registered ........ . 5 108½-108½ .... - ........ - .... 108 -108½ .... - .... 109 -109 108¾-109 . ... - .. .. 107¾-107½ .... - .... 106½-106½ 106,½-106½
. ... - ........ - ....... . - .... 1 . . . . _ . ..
. - ....
Deb,reg,,'89°190,J.,'i .... - ........ - . ... 107 -107 .... - ........ - ....
99½-0!l,½101 -101 .... - .... 100½-101
- ....... - .... 1011>.(-101¾
... - ........ - ........
N.J,Juuc,lst,g n .. 4102 -102
1
... - ........ - ........ - ........ - .... 101)4- 101½ 101¾-101¾
Deb., g, , ' 90-1905.4 99½-100 100 -100 101½-101¼ 102 -102½ 1021>.(-103
:!~~.·~::::~!:½=!:
aa!i:~~r;;~
1st, reg ... ....... ..... 7
i23 =123 .. 121% ·122 i2·i ~12i .. i21½=12{½i22 =122¾iiii½=1io½ii·;¼:li~½
120½ 121 .... - .... 119½-119½ .... - .... 120 -120½ 117½-117½ 118 -110
105½;-105¼ 102½-103½ 103¼-103% 102½-103½ 102%-103½ 103 -104¾ 1o3 ¾-l04.¾
*103 - 105¾ 102½-103¼' 102½-103½ 102½-103 102¼'- 103 1102¾-104 101½-103%
1
.07¼~!¼=l~;~,· oii¼~
.07.%- 07~ 06'.¼ .gi~¼ ·lOO .. ·o·; 06¼- 96~
. . .. - . . .. 95½- 90
115 -115¼ 111 -112 112 - 113¾ 112½-114½ 114 -114½ 113 -113½ 112¾-114
. ... - ..... ... - ....... - ... . 123),,,!-123¼
. .. - ....... - ........ - ... .
113¼-113¼ . ..• - ...
.... - ........ - .. .. . .. _ .. ..
105½-105½
.... - .... 1110 -110 .... _ ... .
100 - 106 106¼-106½107½-107½
64 _ 75
65 - 67
62 - 68
02 - 62
62 - 65
61 - 62
62 - 63
. .. . - . . .. . . . . - . . .. .. .. - .. .. . .. . - . . . . . . .. - . . . . . . .. - .. .. 68 _ 68
i2~·½=122¼i22½=123J::: = :::: i21 =12i··
120¼- 120¾ 122 -122¼ 122¾- 122¼ 123¾-123)4120 -120½
,vest S hore, g u a.r .... 4 101¾- 103¾: 102½-10<1 103 -104 103¼-101¼ 104¼-105¾
Regl9tere d ............ 4 101%-102¾ 102¾-lOi 103¼-103~~ 103¼-104 101 - 104.¾
~~::1·oi
N?;:~::-t1e;;t~Reglst.ered ..... .... . . , .4
O~¼I
0
99 ..
08¼1.05%= oi ..
07¼=
06¾~
=
9v¾- 9v¾ .. .. - . . . .. . - .. . . 05¾- Ov¾
N, Y, Elevated- 1st ._.... , 11'.:l -113 !112~- 1~4 113½-113¾ 112½-114
.. ..... - ....
N.Y.&N.E. - lst,1906. 7 . .. - ... . 120½ ·1,.,1 . . ..
- .... 113¾-113¾ .... - . ... 1 . . . . - . . . .
ht, 190:i ................ 6
N. Y .N.H.&H.- lst,rg, 4 .... - ........ - .... 108 -108 108 -108
N,Y.&North,-lst,g.a108 -108 101 -101¼108 --108 105½-105½
63 - 63¼
57½- 65
2d, gold, 1927 ...... ... 4 58 - 63¾ 54 - 01
osi~
....
.... - . ..
62¼- 63
98..
07¾
oo··
go··
96 - . ...
113 - 113¾
.. ..
- . . .. .. . . - .. . . . . . . - . . . . . . .. - . . . . . . .. - . . ..
Trust 1·ecelpts...........
N. Y. Ont. & Wcs t'n. ... .... - .. . .. .. - ....... _ ... .
lst , guld ....... .... . ... .. 6 11.; - 116 i114¼-115 *10'¼-111% 110:'};!-112¼ 111%-112¾ 112 -112½ 112l1!-112¾ 112¾-112¼ .. . .
ConBol. 1st, 1939 ... a 100 -104 1101 -10! 102¾-105 ,10!¾-106¼ 106¼- 108¾ *105½;·067<{ 105½-106½ 105½-106 106 -106½ 106%-107½ 107¼-108½ 106¾-106)4
82¼- 83¾ 82¾- 83¾: 82%- 83¼ 82¼- 831¼ 83½- 84¼ 83~1i- 81
..
Ket,, 1st, 1992 ........ 4 ... - ....... - .. ..... . - .... , ... - . . . . . . . - . . .
- ....... - .... 70 - 70 .... - ........ - . .
N. Y.& Per,C.&I,.1st. 6 93 - 04 1 93¾- 94¾ ... - .. . . 1 90¾- 90¼ 90 - 90¼ 89¾- 90¼
N. Y. S.&W.- Refund .. :i 103 -10! 103½-105 104. -105¾ 104½-105% 105 -105½ 1105¾-107 105 -105½ 105½-106 10a -105½ 100 -106½ 106%-108½ 107 -107 ..
1
88 - 88½ 86 - 89¼
90¼- 00½ Si - 86 I 86½- 86½ 86 - 87
!ld mort., 1937 . .. .. 4 ½ 79 - 81)4 1 80½- 81 80½- 82¾ 82 - 82¾ 82½- 83¾ 87 - 87
96 - oo
95 - 07
G e n., gold, 1940 .... .. ,'i 8-!J-.i- 87½ 4 85¼- 87½ 87 - 88¾ 87¼- 88¾ 87 - 88¼ 87½- 91 .. .. - ... 87¾- 89 , 88½- 88½ 88 - 03
... - ... ' .... - .. 115¼-115½ .... - .... 118 - 118
r-Mldl~d .of N, J ,, l s t ... ti 116½-117¾ l117¾-118½ ll18%-119 116 -116 117 -117 11~ -118½ 117¼-11~
98 -101 /8½=10~ I 09¼=100%,101¾=1~,.,½ 102½=103 103½=103½ 10~ =1~3½ 101¼ - 102 100 -102
No1·. & S o.- 1 ~, 194 1 .:i .... = ........
. ... 12.,½ 124 121½-121½ 122 -123
... . ...
·; ·. 122¾ 1-3 ... .
118 12,., . . . .
. .. 122 -122 122 -122
. ... ,....
Non. &Wes t. G e u .... 6 . . ..
93½- 96½ 05 - O.,½ .. . . - .. . . 03 - 93 . .. . - .. .. 91 - 91 . .. . - .. . . 91 - 01
93 - 93
100 y r. mort,, 1 990.:i 95 - 95 .. .. - .... I 05 - 05
. . - ........ - ... .
118½- 118½ 120 -120 120 -120 U:0½-120½ .. - ....
•••
.. New Rlver-1 st ....... 6 .... - ........ - .... 118 -118 1 . . . . - . . .
- . .. 03 - 93¼ 92½- 92½ 91¾- 92
06½- 06½ 97 - 97 .... - . . . .
95 - 95
... - . .
Clinch Vu.I., 1 s t& e q.~ 96 - 96¾ 96½- 97 93½- 95
92½;- 93½
01¼:- 93
90½- 91
90½- 01
l.lld, &,v., 1s t, t9,tl.~ .... - .... 91 - 92¾ 91¾- 92¾ 92½- 93½ 93¾- 94.½ 93½- 04.¼: 91¼- 91¾ 90¼- 02
.. 1 •••• - • • • • • . . • - • .. • .. .. - • .. • 95 - 95 .. . . - .. . . . . . . - .. . . .. . . - .. . . .. . . - .. . . . . - ....
Ro. & So., 1st, 19~ !l.a . . .. - .. . . .. . . - . . . . . . .. I
Northern PacificGen, 1st, In.no g r n.nt .. 6 "115 -116¼ 116¼-118 117%-118½ 117½-11874 117¾- 118½ 118¼- 119 115¾-117 116½-117 115¾-117 ;ll6 -117½ 117¾-118)4 lltl¾116½-118 117,!4-117% 118 - 118½11H¾-115¾ 116 -116½ 116¼-i'16J,,4 1116),,.{-117¾ 117 -117 115 -115¾
-118¾
Reaiste red ........... 6 lH½-116¾ ll<l -118 117
Gen,, I. gr:• 2 d, 1933.~ 11!½ 114 112 =11?)4 115¾=1Hi¼ 11~¾=112;4 113 =lH ll~½~li:1¾ . . .. = .... 113¾=116 11-i =115¼ j111¼=112 111½=112¾ 113 -113½
. . ..
• ... . ... •
.... •
. ... •.•.
...
.. .. lH 114
. ... 112½ 112½ ....
Reglstetetl ........... ti 11., - 112½ 112 113 113¼ 114 11,.,94 112,~ ....
1
Gen., gold, 3d, 1937.6 107¼-108!4 108 -109 108¾-110 :110}~-111 109 -111 106½-107 106¼-107½ 107¼-107¾ 107 -108¼ ·106½-108 108 -100 106½-107
71
66¼73¾
71¾74¼
72
73¼- 75¼ 74¾- 77½ 76 - 77¾ 71 - 77
Cons ol., .198 9 .... .. ... ,'i 77½- 80¾ 78½- 79½ 76 - 79½ , 77¾- 70¾ 7G),4· 7
1
.... - ........ - ... .
Div,scrip,exte nded ... .... - .... ... . - ....... - .... I• .. - ..... .. . - ...... .. - ... . 100½-100½ .... - ... lOOl4-lOOl4,101¼-101¼
..
S t. P~nl & No, Pac .. ~ 119½-120 .... - ........_ - .... 120 -120 122 -122 ... . - ........ - ... 120 -12~¼ 120 -120 .... - .... 121½-121¼ .• .... - . .. . .. . - ........ - ........ - ........ - ........ - ........ - .. .
Reg1ste1•ed ... ...... .. . 6 .... - ........ - .... 117 -117 .... - .. . . . .. 1
- ........ - .. ..
99 - 99 .... - ...... .. - ........ - .... 97 - 97 ..
Jn.mesRiv.V,, 1 936.6 .... - .... 10!½-105 104½-104½ 1. . . . - . . . . 97 - 97
.. 93 - 9<l .... - ... . 90 - 90 .... - . . .. 86 - 90
... - ........ 97 - 07
S pokane & Pu.I. s . t .. 6 101 -108 100½-101 100¼ lOO½ ilOO -100
.... - .. ..
102½-102½
..
....
-102½
102
-102
101
-101
101
101
LOL
-102
102
102
-101
102~-103¼
-101
101
-103
101
6
Dul, & lllan ,, 1 st .....
i,5 .... - ........ - . . ..... - ........ - ... .
95½- 96¼ 93 - 03¾ 93½- 93¼ 95 Do. Dak, Div . , lst. 6 09 -101 11102 -102 100¼:-lOl¾ j 96 - 96
1
= ........ - ....
1
1
~:~~:.~r.~~~:.•i!~~:6 i~~.... - ........~~~ - ....
=1~~~ ~~~
=1~~- l~.~ =1~~~11~.~
100½-100½ 101 -101
07½-100½ ' 06 - 08
101½-102½ 101½-lOa
79 - 811)(1*76½- 78¼ ·
82
79~78¾- 80¾
04 - 94¼' *92 - 95½ 92 - 94½ oo - o,n:1;1
=i~;
Cent. Was h, , 1 s t ......
N. P. & lllon ., 1 s t, g .. 6
Chic. & No. Pac . , 1 st ..
Sea. L.S .& E ., 1st ... 6
Ohio Ind, & \Veste rn .I nd, B. & W., l st,pf. 7
Ohio & llliBsissippiConsol. Bink, fu n d .... 1
Consol., 189S . ......... ,
2d, cons ?I.• 1911. .... ,
1st, S prmg f. Dlv ...... 7
.... - .... ...
- ........ - ....
111 -111% 112 -112¼ lll¾-111¼
110½-112 1111¾-112¼ 112 -112¼
120 -120 1119½-120 . ... - ....
.... - . .. . 112 -112 .... - . ••.
1
.
1
=!~~½
06 - 96
9!½- 97½
76½- 78½
94 - 06
- .... 116 -116
I
~~~ =1~~~ ~~~ =1~~~ :::: = :::: ::::
.... 94"?-s78 03½....
........ 05 96
79'½80
On¼ 9! -
I
.... ....
I
........ 07 97
80¾81
03½97
=
........ 00 09
81¾ 78½93.½95
~~~
:::·
........
9<i½ 89
7¾
81
01
O<l
=1~~~ : : :: = ::::
=1~5~ 1~.~
- ........ 88%- 90
7<l¾- 77
88½- 02
I
. ....... - .. ..... - ........ - .... 117
112½-113 . . . . - . . . . 115 -115½ .... - . ... lll½-111½ 111
112 -112 1114 -11<1 1115 - 115 1111½-111½ 111¼-112 111
115½-116½ ' 117½-117½ 116¾-116¾ 117 -117 . ... - ........
. - ........ - .... 114 -114 1113¾- 113¾ .... - ........
I
........ 89½ 85 71¼76
84 91
117
'-
....
,
.. ..
87
75½
89
• ••.
-111 lll½-112 111%-112.½ 112¼-112¼
-112¾ lll¾-112½ .... - . . 112 -112¼
- .... 116)4-116¼ .... - ........ - ... .
- ..... ... - ... .. - .. ..
- ........
1
~~:::1::f.I~L:J ;~ :.~: ;~ :.~ ;~i :.:n:r~::E :: : :LI[~~~ =l~i: ~~~½=l~i~II ~~~· =l~~~lr~~~:~=~~{J,~~:;~=l~~Ii~ ~l~i:: ~~~ =i~f°
1
1
62 - G'1 ! 60 - 04¼ 62½- 65
61 - 64% 63¾- 04¼ 61½- 64¾' 61 - 62
62½- 64
Gen., g old, 192 1. .... 4 62 - 65 64½- 66¾ 62½- 66¼ 62¼- 66
Omo.ha & S t. L,- l st .. 4 .... - ........ - ........ - .... 162½- 62½ . . .. - .. .. 62¼- 62.½ 66 - 66 .... - .. . . . . . - .... . ... - . . . . 62½- 62½ 62¾- 62¾
54 - 55 .... - . .
53 - 53 .... - ........ - . ... 52 - 52 j SOM- 51
60 - 50 .... - ........ - . ... 52 - 53
Ex funded coupon .... 4 18 - 48
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
Bx-intere■t.
B.AILROAD ~ONDS.
1.892-{;ontlnued.
JANUARY
FEBR
1
JULY .
MAY.
AUGU ST. el!lPT 'BER. OOTOBEB. N0V 'Il llR. DE0' BEB.
MA.ROB.
J UNE .
- - - - - -RY.
- - - - -A-PRIL.
- - - - - - - - - - - - - - - - - - - - - - - -----·1--- - -- - - - - · - - - - - - ---- - - - ------1·----
BONDS.
Lo w.High Low . Hig h L ow.High Low. High Lo w.Hig h L o w. H igh Low .High L o w .Hiiih L o w . High L o w .Hig h L ow.Hl1,rh Low .Hl1,rh
fir. & c.- 1st g,,19~'7 .lJ .... - .. .. .... - ...... .. - ........ - .... 95-96
98-98½ .. .. - ........ - .... . .. - .. ... ... - ........ - .. ...... - ....
Oreai.R'y.&Nav.- 111t.6109¼-110 110¼-111 111 -111½ 111 -111½ 110 -110 112 - 112 109¾-110¼ 111 -111½ 110½-111½ 109¾·110½ .... - .... 110¾-111
..
.. 91½- 94.
Consol., 1925 .... . .. .. l) 94. - 95¼ 95 - !J6 .. ..
90 - 92¼ 90 - 90
91 - 91 . • . . - .. . . 88 - 91
88 - 91
87 - 89
86 - 88
Collat. ti·ust, 1919 .. lJ .... - .. .. 90 - 90 ... . - . . . . . . . . - . . . . . . . . - . . . . 71 - 71 . . . . - . . . . 72 - 72
70 - 75 . . . . - . . . . . . . - . . . . 77 - 77¾
Oa•eg, Imp .. Co,- lst .... 6 101½-103 102¼-104.½ 103 -103½ 101¼-103¼ 101%-103 *99¼-101¼ 100¼-101¾ 101¼-102½ 102¾-103¾ 102¼-103¾ 103¾-104¾ 101½-103~
Consol., gold, 1939 .. lJ 65¾- 71!4 68 - 71
07½- 68¼ 66 - 09
63¾- 66
69 - 71 *04 - 67½ 64. - 66½ 64. - 67¾ tl6½- 68
63½,- 65
61 - 64
Pennsylvanlo. Co,1 t , coupon . .......... 4½ l 05~106¼ 103)4-107¼ 106)4-107¾ 106¾-107½ 107¼-108¾ 108}4-108¼ 106 -107 106¾-107 106½-107 106 - 107¼ 107 - 108½ 107¼·1 ~
Registe1•ed ....... .. 4½ 106 -106 105½ -106¾ 105¼-106¾ 106¼-107 107 -107¾ 106¼-106)4 105½-105½ . ... - ... 106½-106¼ 106 -106¼ .... - .. . .... - ....
Pitts.Ft. W.&C.-lst. 7 ... - .... 138¼-139¼ 138¾-139 139 - 139 138¾-139¾ 140 -140 136¾-140 140 - 140 139 -141 159¼-14.0 140 - 140 140 -140
2d,, 1912 ..... ....... 7 .. .. - . . .. 132¼-137¼ 137¾-137¾ 137¾-137¾ 139 -139 139 -139 .... - .... 133 - 137 .... - .. .... . - ........ - . ... 138½-138¾
3d,, 1912 ..... .. .. . ... 7 .. .. - .... 132 - 132 132 - 132¾ 130 -133 .... - ........ - .. .. 130¼-130¾ 131 - 131 .... - .. .. .... - .... 130 - 130¾ .... - .. ..
Clev,& P.-Cons.s,td.7 120¼-121 121 - 121 122¼-123 123 -123½ 120 -120 119 - 119 119 - 119 119 - 119½ .... - . . .. 120¼-121 .... - . ..... .. - .. ..
Gen., 1942, ser. A.4½ 106¾-106¼ 107 -107¾ 108 - 108 .... - .... .. .. - . .... .. . - .. ...... - ........ - ........ - ..... . .. - ....... . - .. .. 110¼- 110¼
St. L,V.& T. H.- tst.1 .... - .... lll¼-111½ 11114-111¼ 112 -112
.. . - .... 113¼-113½ 110¼-110½ . . .. - .... 110½ -110½ .... - .. .. 108¼-108¾ 110¼ -110¾
2d, aiuo.r., 189S..... , .. .. - ........ - .... . .. - ........ - ... .. .. - . ... .. .. - .... .. - .. .. 110 - 110 .... - ...... .. - .... .. .. - .... 109}(-109¼
G1·.R .&Ind.,194t .4 ½ .... - .... 101 - 102½ 102¾-103¾ 100¼-102 103 -103½ 103¾ -104¼ .... - .... .... - . ... . .. . - ........ .. . - ... 100 -102¼
Peoplel!l'G&C.,Cbl.2d.6 82¼- 99 100 - 101~ 100¼-102>ts 100 - 101¾ 101½-103 101 -103 .... - .... 101 - 101 101¼-103 103 - 104~~ 104. - l<M¼ 101½-103¾
l st, aiua1·., 1904.. .. .. 6 .... - ........ - .. .. .. .. - .... 106 -106 .... - .. ...... - .... .. .. - ........ - .. . .
- .... .... - .... . . . - ........ - . . ..
Peo. Dec.& Evan.- ht .6 .. .. •- .. .. 110 - 110 105½-108 103 -105½ 106½-106¾ 100 -108 .... - .... 102¼-102¼ 101¼-105 106 - 106 106 -107¼ .... - .. ..
2d, 19~6 .. .. ......... .. lJ 69¼- 70¼ 70 - 71 70¼- 71½ 71 - 71¼ 69 - 71
69½- 70
08¼- 68¼ 68 - 68
70 - 70}( 71 - 71½ 65½- 68½ 67 - 72
Evansv. Div., l st ..... ti 105 -108 107 - 107 102 -103 100 -100 101 • -101¼ 104¼-105 101¼-102
... - .. ..
- .... 100 - lOi½ 100 -106 .... - ....
Peo1·ia&Eo.8,,htcon,4 80 - 82½ 81 - 83 81¼- 82
79¾- 81
80 - 81½ 79¾- 80¾ 79¾ - 81¼ 80 - 81¼ 80¼- S2½ 78¾- 79¾ 78½- 79¼ 76¾- 78½
Income, 1990 ......... 4 30½- 3-i¼ 32 - 34¼ 31 - 33¾ 28¼- 31
28 - 29
26 - 30
28 - 29½ 28 - 29~-4'. 27 - 29¾ 27¾- 29
26½- 27¾ 23 - 26¾
Peorlo.&Pek.Un.- 18t.6 .... - .... . ... - ... . .. .. - .. .. 110½-110¼ 112¾-112!1( .. .. - ........ - ........ - ........ - ....
- ........ - .... .... - .. ..
!ldmo1·t., 1921 .. . .. 4 ½ .... - .... 70 -70½ .. .. - .... 70 -70
tl7½-67½ 69 -69
69 -70
70 -70 .... - . .. . 72 -72 .... - ........ - . .. .
Peoria Wate r- 1919 .. 6 .... - .... .... - .... .. . - .. ...... - .. .. 100 - 100 100 -100 .... - ... ..... - .... .. .. - ........ - ........ - ........ - •...
Phil.Co. - lst,'98,8,f.6 .... - .. . ..... - ........ - ..... ... - ........ - . ....... - ....
- ........ - ... . .... - ........ - .... 99¾-99¾ .... - ....
Pbila, & Readln1lGe 11e1·0.l.. ...... .......... 4 8:l¼- 84¼ 83¼- 90 85½- 86¼ 86 - 88½ 87½- 90¾ 89¾- 90¾ 87¾- 8~ 87½- 88¾ 85¾- 88¼ 86¾- 87½ 85 - 86¾ 84½- 86!4
1!:~~~~~·~:~. i°9lJ8·.-::
0
7i¾ =½= ;:
72¼=
2d pref. inc., 19lJ8 .... :i 55 - 59¾ *53!1:;f;3d pref, inc., 19:iS .. .. fj 37 - 41½ 39¾3d p1•et. inc., coav . ... l) 42¼- 42½ 43 .Deferred income .. .... 6 .... - .... 12 -
~:~=
63 53¾56¾17¾-
~::
67¾
60
61½
20¼
· ;,3~=
64½M 56!.!i17~
;6¾
75½=
70
67¼62¼ 59¼65
61¼20¾ 19¼-
78¼
76 - 78¼
71¼ 68¾- 70½
64
60'.¼- 63¾
66
64¼- 65
20¾ 19¼- 20
0
77¼69½60¾63¼19 -
79¼
72¾
65¼
67
21
76 69¼61¾6!¼·
18¾-
79¼
72¼
65¼
67¼
21¼
74¼=
66!':(57¾60¼17 -
77¼1·;,6 = 77¾
~~~ ·;,4 = 77 ..
~!¾=
67½- 71½
59¼- 6-i¾
63½- 63¼
15 - 18¼
P. C. & St. L. - 19OO .. 1 .... - ........ - .. ...... - ....... . - ........ - ... . .. - . . . .. .. - ........ - ..... . .. - ........ - .... 115¼-115½
P.c.c.& St.L.- ·'A".4½ ....
.. ...... · ........ - .. ...... - .... 103 -103¾ 103½-10!¾ 108¾-104½ 10-i¼-104½ 10! - 104 102 -102¾ 101½-102¼
72
67
67
21
70½
62
01½
19
69 61 64 17¾-
71¾
64¾
64¾
18¾
67 - 70¼
57¾ - 61"
.... - ....
14 - 16¾
.. .. - .. .
101½ 102½
.... 102 -102
.... 110¼110½
........ - ... .
83½ 82¾- 83½
........ - .. ..
........ - .. .
!!Se1•ies B, 1942 ...... 4 ½ .. .. - .... . ... - .. .. .. . - .. ...... - ........ - .. .. . .. .... - ........ - ...... . . - .. .. .. . - ........ Pitts.Cl.& Tol. - lst ... 6 110 - 110 .... - .... .... - ........ - ........ - .... 108¼-1~½ .... - ........ - .... . .. - ........ - .... . ... Pltts,Po.in.&F.- lstai.:i 92½- 92½ 95 - 95 .... - ........ - .... 95 - 97 .... - ...... - ....... - ........ - .... 95 - 95 .... Plush. & We8t.- ht .. 4 *80¼- 83 82½- 84 82 - 83¼ 81½- 85 84¾- 85½ 85 - 86¾ 8-i - 8-i½ 8-i - 85 83½- 84½ 82 - 84 81½Pres,&Ar.C, - 18t, If.ti .... - ........ - .. .... - ... . .... - ........ - .... 77½-77½ .... - ........ - ........ - ..... .. . - ........ Proc,&G,- lBt, 194O.ti .... - ........ - ........ - ........ - ...... . ., .... 106 -106 .. .. - ........ - ........ - .. ...... - ....... Rtchm' d & Do.nville-ConBol.. ... .. .. ......... 6 109¼-112 111 - 112 105¼-110 106 -108 106 -111 106¼ -111 107 -108¾ 108¼-109 108¼-109 109½-109½ 108¼-108¼ .... - ....
Coupon off....... ......... .... - ..... . .. - . .. . .. .. - ........ - .. .. .. . - ........ - ... . 105 L105¼ 105 -106 105!,(-105¾ 105½- 105½ 104½- 105 102¾-105½
Debentm·e .. ... ........ 6 .. .. - .. .. g3 - 93 90 - 90
. . .. 88 - 01
91 - 96¾ 89 - 91
85 - 85
80 - 93
90 - 90 .. .. - .. .. 90 - 90 . . ..
Con. M., gold, 1936 .fj 82 - 83
79 - 80¾ 75 - 75
74¾- 76
82¾- 85
70½· 75
78 - 85
67½- 73
75 - 77
76 - 80½ 78 - 81
80 - 80
Atl.&Cb., l11t,l891 .7 .... - ...... - .... 120¾-120¾ .... - .... 121½-121¾ .... - . . . . . . - ........ - ........ - .. .. .. - .... 119 -119 .... - .. ..
Rieb. & W. Pt, T e r.Tru8t ...... ........... . . 6 91 - 07½ *9-i -100 89 - 99
87 - 90
83 - 88½ 75 - 86¾ 78 - 82¼ 79 - 80¼ 75¼- 79½ 78 - 81
78 - 79
71¼- 75½
Trust 1·eceipts . ..... ...... - .. .. .. - ....... _ .... 88 - 90 82½- 88 86 - 86 .... - ........ - . .. . .... - ........ - .... .... - ........ Con,, 1st, col. t. g ..... :i 62¼- 68¾ 64½- 72¾ *58 _ 69¾ 52 - 59½ 63 - 60
41¾- 66.½; 42½- 49¾ 46 - 48¾ 44 - 60
49¼- 54.
46¾- 60
42½- 46½
Tru8t receipts.........
- .... .. . - ........ _ .... 54¾· Ill
51¼- 69
41½· 67½ ... - ........ - ........ - ........ - ........ - .... ... - .. ..
Rio G1·. Junc.-lst, g .. :i .... - .. ...... - . ....... _ .... .. . . - .... 91 - 92¼ .... - .... .... - ........ - ........ - . . ...... - ........ - ........ - .. ..
.Rio Grande Sonth'n .. :i .. .. - .. ..... . - .... 85½- 86¾ 86¼- 86¾ 85½- 86¾ 86¼- 86½. Si - 84¾ 84 - 85¼ 85 - 85¼ 83 - 84 .... - ........ - .•.
Rio G.W.- ht, 1939..4 *76¾- 78½ 77¼- 78~ 77¾- 79¾ 78¾- 81 80¾- 82
81¾ - 83
80 - 80½ 78¾- 80¼ 78½- 79¾ 78¼- 79
78¼- 79¾ 78¼- 80
Rome Wat. & Ogden.Con,, 1st, e xtended ... t'i l l.2¼-114 113½-115 114 -115 *lll½-113 112½-113¾ 112¾-113¾ 113¾-114 114 - 115¾ 113¾-114 111¾-:!.13 .... - .... 112 - 113
Ut, & HI. R.- 1922 .. 4 100¾ -101¾ 102¼-102½ .... _ . ... 102½-102½ .... - .... 102¼-102¾ 103 -103 101½-102 .... - .... .... - ........ - ... .... - ....
!i,t, Jo, & G'd 181.- bt .O 05 - 97½ 95 - 96½ 97 - 100
98 -100
9! - 96¼ 9i - 96
94¾- 95¾ 96 - 96½ 93¼- 96
96 - o-;92¾- 93
93 - 93~
!ld, incon1 e .............. l) .. .. - ........ - .... 37¾· 38¾ 38¼- 39 39¾- 39¾ .... - ....... . - ........ - ........ - ........ - ..... .. . - ... ...... - .. . .
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