Full text of Commercial and Financial Chronicle : The Financial Review : Commerce, Banking, Investments, 1886

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FINAN . CIAL REVIEW. . -:  (ANNUAL.)  1886_  COMMERCE. BANKING, INVESTMENTS.  WI LL IAM B. DANA & CO., Publish ers, OF FIC E OF TH E co: ntt ER Cl. 1.L AN D FIN .l.~ Cl. 1.L CII RO ~IC LE ,  79 & 81 WIL LIA M STR EET , NE W  YO RK .  [ Enter ed a.oco rdlng to Aot of Cong ress, in the year 1886, by W~LL U.~ B. DA.NA. & co., Pub~i shers of the Co1u um.CIA .L A.NO FCNA.N"C[AL CHB.ONCCLR, in the efflee of the L1bra .rian or Congress, Wa.shrngton, D. C.)   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  ~  ·., R l 91921  Oev t r..1 :~tu\L l·U~  CONTENTS: Retrospect of 1886 . . . . . . .  I  Speculative Transactions in 1885. ....... . ...... . ........ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ....... .. . . .. . . .. . . .  4  Clearings and Failures in 1885... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  5  Hankin;; and Financial-Statistics-Home and Foreign . ...... . ..................................... . . . ... . . . . . .  8  New York City Bank ~fovements ......... ~ . . .. , . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  12  Great Britain in 1885. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  12  'J'rade and Commerce-Commerce of the United States....................................................... . ..  14  Comparative Prfoes of Merchandise, 1860, 1881-S6............ . .. .. . .. .. .. .. . .. . .. . . .. . . . ... . . . . . . . . . .. . . .  14  Value of Exports and Imports and the Trade Balance, 18_60-85. . . . . .. .. . . . .. . .. .. ... .. . .. .. . . . . . . .. . . . .. . . . . . .  16  Exports of Leading Articles of Domestic Produce for Four Years. . . . .. .. .. . . . . . . . . . . . . .. .. . . .. .. . . . . . . . . . . . . . . . .  I6  Imports of Leading Articles of Merchandise for Four Years. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  16  Values of Imports and Exports of the United States for the calendar years 1884 and 1885................... •• . • • 16 The Money lUarket-Review of the Market..... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • . . . • . • . . . . . . . . . . . . .  17  Prices of Call Loans and Commercial Paper , 1878-1885 . . . .. . . .. . . .. . . . . . . .. . . .. . .. . . . . . . .. . . . . .. . . . . .. . . . . . . . . . .  18  Gold and Silver-Production..... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . •• . . . . . . . . . . . . . . . . . . . . .  19  Consumption of Gold and Silver........... . ...... . .. . ........... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • . . . • • .  19  Stock of Gold in the United States......... . . . . . . . . . . .. . .. . .. .. . .. . . . .. . . .. .. . . . . .. . . . . .. . . . . .... . . .. . . . . . . . . .  20  The World's Supply of Gold and Silver.......... . ............... . . .. . . . .. . . .. . . .. . . .. . . .. . . .. . . .. . . .. . . .. . . . . .  21  Foreign Exchange-Prices in New York, 1870-85........ . . . . . . .. . . .. . . .. .. . . . . . . .. . . .. . . . . . . .. . . .. . . . . . . . . .. . . . . .  22  Investments and Speculation............ . ............... ........................  . . . . . . . . . . . . . . . . . . . . . . .. . . . . . .  28  Compound-Interest Table, Showing the Accumulation of Money in a Series of Years.............................  28  Table Showing the Rate Per Cent Realized on Securities Purchased at Different Prices. . . . . . . . . . . . . . . . . . . . . . . . . . 29 Stock Speculation in New York................ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . .  31  United States Debt and Securities-Debt of the United States, 1791-1885..................................... ..  3~  Prices of Unit~d States Bonds, 1860-85 . ... . . . . . . . . . . . . . . . . . . . . . .• . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  33  State Securities-State Debts and Immunity from Prosecution.... . ... ............ ................... ................  40  Prices of State Securities, 1860-85 .... . . ·. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  40  Railroads and Their Secm·ities-Railroad Statistics for the United States . .................................  .f.6  Railroad Earnings. . . • . . . • . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • 4 7 Prices of Railroad Bonds, 1831-1885 . ... . .. . ............ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  48  New York Stock Market, 1880-1885 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • . . • • . . . . . . . . . . . • . . . . . . • • . . • . . . . . . . • • . . . . . .  69  Priees of Railroad and Miscellaneous Stocks, 1881-85.. . ...............  71  The Investors' Supplement. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  . ................ ... ...............  H  - . . . . ... . . . - ...... - . - .. - - . . - ... APPENDIX.  THE  FINANCIAL 18 8 6. RETROSPECT OF 1885. The year 1885 was one of remarkable recovery. The crisis of 1884-th~ sequence of that five-years' period of wonderful railroad building and speculation-had prostrated the financial and manufacturing interests of the country, and the question was seriously asked whether it might not take another period of five years for a restoration to a normal and healthy condition. The year dragged on till June with little prospect of better times; then the quiet incipiency of tile New York C_entral-Pennsylvania-West Shore n.e gotiation ..began to make itself felt in . the stock market, and thenceforth the spell was broken. As the movement was further developed and its success became assured, the whole situati?n changed, and starting from the New York Stock Exchange as a centre, the improvement broadened outward until commercial and manufacturing interests were also embraced, though to a less extent, in the beneficent influences of the resuscitation. There has hardly been a parallel instance in which a single negotiation carried on between private parties (in this case three railroad corporations) has primarily raised the whole stock market from the depressing effects of a financial crisis, and secondarily extended beyond those limits and imparted a healthier tone to the :financial inter. ests of the whole country. And yet this course of affairs was somewhat abnormal, since a general rise in stock .prices usually follows, not precedes, an improvement in the commercial situation. But the transformation in 1885 was based al~ost entirely on the one idea of a tolerably certain status in railroad profits, whenever the com panies are placed in such a position that they find it both practicable and necessary to maintain rates. In taking a genera.l view of the agricultural, mining, manufacturing and railroad interests, only the first.named could be said to have experienced a fairly prosperous year, and even as to that, the pricipal export grain crop-wheatwas a partial failure. The better tone of the last few months of the year was based rather on a hopefulness as to the future, and signs of a coming improvement in prices, than on the realization of profits by an advance already obtamed. The outlook toward the close of 1885 was considered favorable. The surplus of the last cotton crop, amountmg as commonly estimated to 1,000,000 bales over that of 1884, was yet to come forward,. the iron trade was encouraged by a better demand and a slight advance already established, while the price of steel rails was fully $7 above the lowest figures of 1885, with large orders booked for 1886 ; the railroad situation was vastly i mproved by a disposition on all sides to combine for the  I maintenance of rates, and by the prospect of a large tonnage during the coming year; wheat was in a less satisfactory position, owing to . the heavy accumulation of stocks and the small export demand, even at the low prices ruling, but even in this market the prospect was better, as a point seemed to have been reached where the European stocks must decline unless replenished from this country; mining interests were depressed, and the coal trade in particular had little that was satisfactory in the immediate present, owing to low pricas and the mild winter weather; but operators looked forward in the hope of a general improvement in iron and other manufactures to cause an increased demand. The European war cloud was an important feature in the horoscope of 1885, and during several monfhs, from February to May, the fear of an outbreak of hostilities between England and Russia, over the Afghan boundary question, kept London and New York in trepidation, and lent a support to the breadstuffs market which proved to be ill founded. The minor difficultes between Servia and Bulgaria, though resulting in actual hostilities, were of less importance to the markets, as the danger that the larger powers would be drawn into the struggle never seemed very imminent. The foreign trade statistics of the CT nited States. could not be considered gratifying. Under the influence of hard times and a strict economy the imports of foreign merch . andise fell off, but this was not supplemented by such an increase in exports as might have been expected, and in the last half of 1885 stocks of cotton and wheat were accumulating in the United States, while prices were low and foreign buyers still refused to come into the marketsThis unusual condition of affairs was mainly to be accounted for by the bad condition of trade in Europe. The business of 1885 was not hampered by any friction or breakage in the :financial machinery; that is, the banks, the money market, the Stock and Produce Exchanges, all worked well, and no trouble was experienced with these vehicles of trade and speculation. On the other hand, the fear of a disturbance to our currency by a continuance of the silver dollar coinage was a serious drawback, •. nd it did much to prevent a perfect restoration of confideuce. The mere possibility of a suspension of gold p11ym~nts and placing of the currency of the United States on a silver basis, with the consequent withdrawal of gold as a circula ting medium, was sufficient to throw a cloud over the future. The business failures of the year, compiled by the mercantile agency of R. G. Dun & Co., were particularly interesting From the nature of the case, these statistics can only be  fEntered according to Act of Congress, in the year 1886, by WILLIA..M B. DANA.. & Co., Publish ers of the "Commercial & Financial ·.Jhronicle, • in the Office of the Librarian of Congress, at Washington, D. C.]   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  •  RETROSPECT.  2  I  1884.  1&85. approximate, but they furnish a general idea of the course Price, Value of y · Id Price, Val..e of of business affairs. The number of failures in 1885 was Yield. J'n 2'86 Cr11p. ie · J 'n ~ ·s;; C'ro only a little less than in 1884, being 10,637, against . - - - - ~t;:-· $ cts. $ Wheat .. •. ' usb-. 357,112,000 92½ 330,3i8,"00 512,';63,1:100 8.:. 430,721,676 10,968; but the amount of liabilities involved in the fail· Corn . . ... bust,. UJ36,176,000 50 96 <,t;81-,000 l,":~5,52,-., ~:;2 53 1--5l.680,04i8 6,661-1.000 9 S•FI 1800,220,114-~ 5,llf\9, '21 11¼ 303,85fl,399 ures of 1885 was much less, being only $124,220,321, C'otton ... hales 11. Manufacmrei:>, Miuiug, and ludu~1nal Euterpr1se against 226,343,427. The progress o~ failures in each The discouragement of 1884 in all the branches of mdustry of the past ten years may be seen in the following table. was carried over into 1885. There was generally a large FAILURES IN EACH QUARTER FOR TEN YEARS. stock of m:-i.nufa.ctured goods to he worked off at low 1st Q11arter. 2d Quarter. 3d Quarter. 4th Quarter. Total Year. y ears. .A.wount. .A.u,ount. .A.mount. Amount. Amount • prices, a d this to a considerable extent was accomplished, so tbat at the end of 1885 the surplus stocks were believed $64,644,156 $43,771,273 $47,857,371 $34,84-1,893 $191,117,786 1876. l877. 54,538,074 45,068,0i,7 42,346,085 48,717,ti~O 190,669,936 to be much less than at the beginning of the year. The 82,078,826 48,753.940 66,37q,;j6d 37,172,003 234,393,132 1878. 98,149,053 1879. 43,112,665 22,666,725 15,275,550 17,094,113 failures were few, and the vitality of the manufacturing 12,777,074 2U,lll,689 12,121,422 20,741,815 65,752,000 1880 . 81,155,932 ll:!81. 24,447,250 16,499,395 10,112,365 30,096,922 companies was well shown by their capacity to endure the 188:&. 33,338,2711 17,242,649 18,94-2,893 32,022,751 101,54.7,564 18-.3. 38,372,643 27,816,391 52,072,884 54,612,254 172,874,171 severe pressure thus brought to bear upon them. The 1884. 40,186,978 84,204,304 56,627,821 45,324,324 226,343,427 1885. 46,121,051 28,601,30-1 23,874,391 25,623,575 l24,220,322 price of raw cotton declined heavily, but this gave manuFor the purpose of showing at a glance the industrial facturers no bent>fit in the year under revrnw, though it and financial statistics, which present a sharp comparison, . placed the market in a better condition for them to buy of the two years 1884 and 1885, the table below has been for future use, with the hope of profiting by a rise in the compiled. Tne figures relating to the production of price of g iods during 1886. wheat, corn and cotton for the year 1885 are necessarily Iron manufactures were notoriously depressed a.nd approximate, and the estimate of the best authorities is many furnaces went out of blast; in fact t.he main hope of taken in each case. The average mileage operated on improvement was deriveii. from the decrease in produc. the 59 railroads whose earnings for the eleven months tion, and when a very small advance in pig iron was are reported, was 45,919 miles on December 1, 1885, obtained near tbe close of the year, the fear was expressed a~ainst 44,753 Dec. 1, 1884. The estimate of gold in the that prod nction would be increased and the benefit of U nited S tates has been reduced $30,000,000 by the U. S. the impro1 ved-d~mand would be Jo3t. Mint Dtrector, making that much reduction in the coin Miuiog was unprofi table, and tbe low prices for coal and . and currency figures published last year. The immigration r~duction in miners' wages were followed by long and statistics are now given exclusive of immigrants from bitte r; strihs rn the H ocking Valley and m t.he viciuity Cana ia and Mexico, and the tot:tls for 1884 are therefore of P1ttshurg. T he autbracite companies held together reduced for comparison. fairly, but no combrnation could ma.ke high prices for coal ; tbe prod ,. ction of anthracite was about 31,500,000 1884. 1885. ---- ------,------ tons. a~ainst 30,718, :rn3 tons in 18::l 4. No e:;tirna.te cau be Com aud currency in U.S. Nov. 1. ... . $1,511,51"!8,110 $1,556,914,798 rnade of the production of soft coal. Mercantile failures ... .......... ...... . . 226,343,427 124.,:l20,321 {mports of meruhanditie ..... .•..... ... 629,261,860 587,551,506 Tb.e petroleum statis ric::. fur the year show thar. the Ex:~•orts of mercllaudise ..•.........••. 749,366,428 688,846,556 · Geoss earnings of f>9 roads. (11 mos ) . ll:18,958.844 199,592,437 total production was about 2 l,025,000 ba.rrels, agd.iast Railroad constructed .......... (miles). 3,977 3,lOO Wheat raised ................. bushels .. 512,763,900 357,112,000 23,704,510 m 1884. Corn raise1 . ... ... .......•. ... bu~llels. 1,795,528,432 1,936,176,000 Cotton raised .........•...•..... bales. 6,669,000 Railroad building was no in'3ignificant feature in the 5,669,0211 Pig irou produced (tun!! of 2,0uO lbs.). 4,589,613 4,5~9.869 Anthracitf\ coal .................. ton<JI 30,756,995 31,623,529 year's work, and notwitbs tandiog tb.e disastrous e:ffclcr.s of Petroleum ....... . ...... ..... .... bbls. 23,704,510 21,225,203 {rnmi~ratiou .................... . . .. .. . 403,230 ;j:.!6,411 tbe railroad crisis of 1884 tbere were completed in 1885 about 3, l 00 miles of new railroad. On tb.e na.sis of I. Agricnlturnl Prod ucts.-T ne year 1885 was one of gen. $30,000 per mile for road and equipm·eut, including eral prosperity in the agricultural disr.ricts, exce[Jt as to tbe brid~t->S, &c., this would call for an expenditure of winter wheat crop, which was heavily short. Tne Agrt• $93,000,000. cultural Bureau estim~tes the total wl1ear, prod 11ct of tbe IIL Foreign Commerce of the Untted S ~ates.-Tb.e year as 357,112,000 bushels, or about l55,000,000 hu--bels export of domestic products in 1885 was disappointing. le~s tban in 1884, and tbi:; loss was mainly in tbe Onio It was reasonably expected that durmg the last half of Valley, and in Missouri, Kansas and California. Bat for the year the ex ports would be very iarge, owi'ng to the corn and cotton tbe year was pre·eminently good, and the beavy cotton crop, but the exports of cotton for four e$timate of 1,936,176,000 bushels of corn makes the crop months of the crop yea.r, from Sept. 1 to Dec. 31, were much the largest ever rai~ed in the cotmtry, while the folly 3£'0,000 bales less than in the same period of 1884. current estimates for the cotton crop place it about 1, 000,· The wheat exports for t,he same t.irne were also exceed0()0 baled ahead of 1884, or a crop of about 6,670,000 ingly small, being only about 7,000,000 bushels, against bales. A view of the relative values of these crops is any• 23.000,000 husbels in 1884, while corn exports were about thing but agreBable, as we find tbat if they were all laid 16,000,000 busbels, against 7,500,00() last year. The down in New York, the three great crops of 1884 would moderate foreign demand for our products, even at low have been worth $1,685,708,143 on Jan. 1, 1885. and price~, was accounted for mainly by the bad and unpromthose of 1885 worth only $1,598,646,6,13 on Jan. 1, 1886, ising condition of trade in Eogland and on tbe Continent at the prices prevailing on the respective dates. It is obvious of Europe. The exhibit of exports and imports of merthat this ca 1cnlation 1s purely arbitrary, and only good for cbanq_ise in the first and last half of each year is briefly th .. purpose of comparing the two seasons, as the actual as follows: value of the crops to producers on their farms is far below ___ _ ____ 1885. J_!88-i_._ lDi1fer'ce~~85. tbe New York price; but the comparisons carried on from Impo,·tsyear to year, on the hasis of prices for standard speculative First i-ix 1uouths ....... . .. $2~1,022, 149 $33::?,75H,n80 Oec.$51,734,531 La st five months......... 254,6 ,., 7,8:,;:$ 25.i,334,187 In c . ~7J,· ~6 grades ruling in New York on the first of January, will , Ex1 ,ort~Fit-st,ix m11ntbs. ····· ···· j 33 n.3::l ~,q -12 M3.5'2.5!.1Dec. 7,l:-n,673 give a general idea of the relation of quantity to valne of Last five montl.Js. .... .... 278, 027,04, 3 L-t,509,758 Dee. 36,4~2,7 t l An (,'X1:1,m10a.t10n of the above figures shows that in the crops in successive years. In tabular form the statement first six months of the year the eXCt'SS of exports appears thus;  I  1   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  RETROSPEOT. over imports was about $55,000,000, against $11,000,000 in 1884, but in the last five months, from Jn]y l to Dec. 1, the excess of exports was only $23,000,000 in 1885 against $60:000,000 in 1884. IV. Railroad Traffic and Earnings.-The railroads which have a general busmess and are not dependent upoo a single crop along their line, or upon a single md ustry ( as coal mining), usuaJly keep up their tonnage w ell even in years of depression. I~ this circumstance is fouod ooe cause for the great confidence in railroad property when• ever fair rates are maintained. The general business of the country is naturally on the increase, and hence the tendency is always towards a larger tonnage on the rail roads. This encouraging feature was not want10g rn 1885, and in many cases the traffic was larger than in previons years when profits had been far better. But rates for freight and passengers are utterly demoralized by the railroad wars both East and West, led by the deliberate purpose of the officers of the New York Central & Hudson to crush. out the oppos1tiou of the West Sh.ore road, which had been constructed as a parallel line. Although the negotiations began in June which finally ended in the foreclosnre of the West Shore and its lease to the Central, still the trunk line rates could not be fully restored before November, and the full b enefit could hardly be felt on the railroads before the close of inland navigation,-about the first of December. For net profits to the railroads the year was therefore one of the worst on record, and dividends were reduced in every direction, the New Y o~k Central cutting down to ½ of one per cent quarterly, and Lake Snore passing its dividends altogether. The following summary shows the condition of the New York City Oiearing•House banks, rates of foreign exchange and prices of leading s~curiLies and articles of merchan• dise, about the 2nd of J a.n. 1884, 1885 and 1886. !HATISTICAL SUMMARY ON OR ABOUT JAN.  2, 1881. 1885 AND 18 86.  188-l.  ·f'  New York Oily Banks;,27,535,700 Loans and discounts ..••..•. 8,pecie .. ,. . . .•...•. . . ....•...•.. · t,0,4 118, l« :l • 15,456,801 C1rculat10n ..•......•.......•. 320, 7 .f;-i,0uo Net deposits ......•_•......•. 26,479,LtJI Legal tenders ..• .......•..... if Legal reserve ..•..••...... .. .. $ 80. 19~. J">l• Reserve l1e ld ................. $ 8 •;,p -1 -,2u1 Surplus re,.e1·ve ... .. ....•. . . $ ti,,~ ~,::15 Money, Exchange, Silver1@212 Call loans ...................•. 5a5ig Prime paper, sixty days .. ·.... . 51d. Silver in London, per oz ...... . 4 8:..lg Prime sterling bills, 60 days .. United States Bonds3s, rngistet·t1d. option U. S .••• 100 14 134 6s, currency, 1898 ......•...... 4lgs, 1891, coupon ........... . 114 7s 4.R of 1907, coupon .. .. ..•. ... . 123¾ Railroad StoclcsN ew York Central & ffud. Riv. 112 Erie (N. Y. L. E. & W.J. ... . . ~ti~ Lake Shore & Mich. Southern . 943a Michigan Central.............. 85 Chicago Rock Csland & Pacific lllilg Illinois Ceutral.... . . • . . . . . . . . . 13 .! 14 Chicago &Nu1'thwei,.t~rn, com. 11614 ChilJago Mil w. & St. i'aul, com. 92 Delaware Lack. & Western ... ll6lg Central of New .Jersey.. ...... 8-1-½l ILerchandiseCotton, l\Uddl'g Uplands.~ tb. lOlg Wool, American XX . .... ll} tb. 3:-J@H [ron, Amer. pig, No. 1.. ~ tou. :?O 50@2 l 50 Steel rallt:1 at mills. ... . . ...... 3"1 uo Wheat.No. 2 red win., bush 110:.\J,-l 12¾ Corn,West.mi.x:.No. 2.~bush 6dai,w6! Pork, mess. ·-····· ..•... w hhl 14. 75 ·11H5 25 Petroleum llipe llae certiftu's 1 15  ··1  ----- . - - - - - - - - - - - -  1885.  1886.  297,8'<7,7'10 339,909,800 87,867,~0,J 8ll,7J 1.1 uu l l.::h11-. ,80u l:I, 7\:1 .8 •II 340,816,:iO• 3in,9:'>l:l,300 37 .J5 t: ,l-l00 2'.:!,8v~.-.::011 85 ,2 · 4 ,0 7.• 91;!39,~2:', 1  l:lf>,-.t·:?  I  7  0  11~,5~  l. <f) , '  40,0~U,o-v 1½11>2 4 '-<J'ivi'l 12 4.9 7 9 ,i. -l 81  4ti ' 6 16  4 86  10114 131  102¼ l3 :t7s  121 7 s  U :t:~ 123  11 a1s  86¾ 1414 62 5 ,'"l  105¼ 121¾ 85 7llg  !:-8¼  3\:112 1118 914 3-i1lliJ6 37 19 501l>iv 50 18 o '@ 18 50 21'1 1111 34 OOwJo 00 8Hi>8ti l:1212 53 -rf>~ ½ !'>0'-2 12 50al3 o o 10 0' ' 1v10 25 75 91¼!  BANK MOVEMENTS.  The bank operations of the year were not at all conspicuou,., as the quiet cour:;e of the money market and the ab:_;;ence of any particular te11:,i ,n on th 1 banks gave no occasion to make them prominent. The most nuta.ble feature in the New York City Cleariu>{-H mse Bink return~ was the large accumulation of specid ,uid legal· tenders during the .dull seaso n, running up their surplus reserve above the 25 per cent legal requirement to much the highest figures ever reached. This surplus touched the maxim urn in the bank stateme.nt of Aug. 1,   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  I when it was $!H,72!,100, an i  fron that point it decreased quite steadily, being $56,910,250 near the first of September, $4:1,499,200 the first of October, $31,271,450 the first of November, $2,5Ji93,275 the first of Dacember and $24,289,475 the first of January, .1886. Th~ following wne the totals of the New York City Clearing hflw~e ban.I,{ about the first of each quarter in the year 1885, and near the 1st of January, 1886:  j Loan, and Discounts. J  $ •n. .3, '<5, 297,887,700  Cfrcnlo-  . 8 pecie.  Net  tion.  Deposits.  I  Le•ai  , Tenders.  $ $ $ $ 87,867,800 11,398,800 340 816 300 37 356 900  A pl. 4, '85 3U2,757,100 104,484,400 l 0,953,800 35 2' 684° 20°/"o'812 '500  J uly3, :~~ 327,2Q6,'.'-00 114,119,600 9,83~.~oo 3so:798:8uo 42;6ss:ooo 0 ct. 3, So 3~0,709,300 107,09 l,300 9,90.1,nOO 385 360 000 30 747 900 J an. 2, '86 339,909,soo 89,7:.n,100 9,976,800 376'.959:300 2s:13o8:~oo  THE MONIJ:Y MARKET.  The C/lUrse of the monPy marki>t was such aR might have been anticipated in a year following a financial crisis. The question seemed to be tested as to how lnw a rate lenders would acc,·pt for call loans to stock- brokers, and when the superabundance of funds was greatest the rate of ½ of 1 per cent per annum was commonly quflted on such tr>1nsactions, It should be clearly understood. however, that the ordinary quotaLion of money on call to stock•brokers does not repre• sent th~ rates for money at hank t•l their b ,rrowing cnstom,. . r,:, and whe11 in the Fall th':l demand ha.d imoroved, the strPet qul)t ·tions of 1@3 p ,-,r cent per annum gave no correct indiclit ,, n of the loans ordinarily made at the banks. which were then probably 1@2 per c..,nt higher. This explan :-ttion is llt->CPSsar_v, since the quotations made of the money m .rket during the year are giveu for the Jowf'st rates of money no call in the open market and 1he lowest rateH for fir:;t- class commercial paper, as they are current among the principal dt:>alers. During the late months of the year there was im occasi,,nal fhirry in money, worked for speculative purposes, hut nothmg which merits any attention, and money was practically very easy throughout the entire year. The following table shows th~ rates !or call loans secured by colla1erals and the rates for prime commercial paper or two to four months' ti ,ne duri11g e1-Jch we'e k c,f the ~-ear 188,> : Wi>el{ i>nding C.,.U Prime I Week t-nrlingCall Prme ·•  9 lti ....... .  "  2 ~ ......•.  " 30 ....... . Feb. 6 .. ...•.. ., 13 ... . . .. . " 20 .. ..... . '' ~7 ......•. l\fch. ti ..••.. .. l '<..•. . ... " 20 "  " l:S . ...... . " 2l .. ..... . " 29 ....... . June 5 ••..•. " l:L .. .... . ·• lH .••• . ••• " 26 ....... . July ::$ ••••••••  2  4  it 2  I  lg'a)  °½'@  ½ a>  1 l  1 1  a m2  1i)  12@  •  'a)  l  'ril  l l  l  2  12@ l½! i..w ¼a>  n,512  "  '@=l  ''  2  ! 4  115  4  'a/ ,)  4  "'  'a/5  .•  14 ... .  "  '.  1.v'l  "  28 .... .. .  1i):') '@ ,)  " "  1 .......... .  i  .1½zn. -l½  :-<½ @4.121 312 v, 12 -~ ½,@l  127i' ¼iv  3 ½ow 3 14 '@ l  'a> ½111)  l  1i)  1  al  ·'  ~•-·· · ····  "  23 . ...... .  ,,  ..50....  1il 2 l. 'jjl I½ ½iv 2 1 1il 2 I '@ ~ l '@ 2  ¾ 11414 2341i>~14 :.\t1il-l14 'l,~@ --½l ~ 341.i) lg  l  :-J  ,>  al-l  i : L ]'.i t~  1. ...... .  2"1 . .. . ... . Oc r. 2 . . . . . . . .  3½1v,  '.'l ½:a-4  ¼iv  1I  ! !J S~pt.1~::::::::  @  dJ  17 .. ..... . 2L ...... .  Paper.  111s  1  " :-n ....... . Aug. 7 .. ...•••  112 4 125  l¼ 'l,  al 2 'iii  ¼m  ) 7 .• .. .•• .  ),(  ½@  1  April 8 .. .. . . " 10 ... .  ..  Lo  Friuay.  12@ l½ 412@5".! J1, l,1 111 ..•• . . •.  :.! ; • . •••••.  ,. 24 .. .. . .. . M,y 1 ... ... .  Pa. 111~1·.  L 11a.11s.  F1·iday.  Jan.  ,,  2½1@5 4@5  3  •• 16 . .. . . . .  I  'iii  I lg  1 @ I½! 3 l ·al :; 13r l @ :~ 1 1i> 3 ;{ l 1iJ 2 3 I '\ a> 3 l l½ m 4. 4 l 1iJ O l  Nov. o.... ... . •· 1:~ ..... . I 12 iV '' 20 .... . .. . 2 1i) 112 ,,, :l '@ ·• 11. ... . .. . 1 d, " l~ ....... . l½?'ai I 12@ " ~ :-. •••••••• " 31 ... . .. . 2 'iii  12  1i)  -,,; l½  1i! I lg  a 412  1.i)-l½!  ·a> t¼ II  4 lg  @112  w4-½l  312  -l  ~~!; i ID;c. :tI::::·:::I  4 3 :J  4 1i> l  • '@! :-J '@ l 3 @,  ~lg "6 5  14ml  ~  ~  al ,>  n,:'J  -l  m:"J  4  m5  I  l i  UNITED STATES BONDS.  There was no particuLir interest centE"rdd in the govern ment bond ma•ket. and there h-1.s probably not been a year since the first wa.r b,mds were is,m ~d in 1S6~, wh~n g 1>vernment bonds attracted l •·HS attention. N" o bonds were ca.lied in and redeemed during the year, and only on the 29Gh of Decemb . . r was the first call for bonds issued under the present Administrativn, the bonds to be retired on the first of Ft'bruary, 1886. FOREIGN  EXCHANGE,  , The range of sterling bills during the year was such as to permit of only a very moderate export or import of g1.Jld, In the first quarter there was some investment demand for bills from parties who preferred to have their fun ds in London, where money W d S higher than in New York. Then in April there was excitement over the threatened war bet w t en England and Rue:sia and rat~s were advanced for a while, until tile more pa 1tic aspect in Ma.y and the reductions in the Bank of England rate from 3½ to 2 ptjr cent 1 carried rates down. The market wa~ dull a~1d depressed_ until July, when there was a stLonger feelmg, which was contrnueli during part of Au}!ust, and then the ratt:is again weakened  I  4-  RETRO SPEOT-SPEO ULATIVE  TRA~NSA OTIONS.  After the middle of June. as above remarked, the situation changed for the better. But the N. Y. Central quarterly dividend was reduced to ½ of 1 per cent, and in A11gust and September the Northwest preferred was reduced to 7 per ?ent per year, and inferentialJy the common to 6 per cent; Lehigh Valley to 1 p ~r cent quarterly and L~<:ka~anna 1~4. The U~ion Pacific effected a sale of securities m Sept em her Buffietent to clear off its floating debt ; St. Paul voted to issue $5,000,000 new preferred stock at par. In October the Erie loan on Long Dock property was reported ; the New Yurk & NAw Endand cleared off its floatiug debt by is uing about $1,800,000 preferred stock, anri the receiver was disch..trged about the close of 1he year; the Baltimore & Ohio made its arrangement in November for terminals on Staten Island; the West Shore road wassoldinfonclosure November 24 1 and thenewcompany organized in December. Mr. W. ff. Vanderbilt died on DeRAILROAD AND MISCELLANEOUS STOCK S. cember 8. The Texas Pacific stock collapsed in December, The year 1885 was one of the most remarkab1e in the stock and a receiver was appointed for the road on the suit of the market that had ever been known. ·It was one of those years Missouri Pacific Railroad Company, a large holder of its floatwhen immense fortunes could be made in stocks with a ing debt. merely nominal capital; after June, the rise in prices was SPECULATIVE TRANSACTIONS IN 1885. so large and steadily maintained, with slight reactions, that there was little danger of loss to any on A who purchased on Any review of the course of business during the past fair margins with a determination to hold. The first half of year would be quite imperiect that omitted a record of the the year from the qpening till the middle of June was a period of great depression, and notwithstanding the European speculative transactions. One scarcely appreciates the exwar prospects the market had no real animation, and could tent to which this class of busmess is carried on till one get none whi1e the trunk line war was waged so bitterly with- examines the figures bearing ·on the subject. In commodi. out any prospect of early settlement . About the middle of ties, options and futures are the form in which operations June a buying movement commenced somewhat mysteriously are chiefly conducted, and so common have these transin West Shore bonds, the Vanderbilt stocks and Erie, but it actions become, and so greatly has their scope been was not until July that ths impression became general in Wall S treet that this was backed by strong parties, and was extended, that to-day there is scarcely a branch of founded on negotiatia ns for a settlement of the New trade that has not its own Exchange, where dealings York Central and West Shore imbroglio. In Au6 u ,t of this description constitute a feature of daily growing the success was announced of the negotfation carried on importance. through Mr. Morgan, of Drexel, Morgan & Co., for We can now, however, only allude to the transactions the sale of the South Pennsylvania Railroad to the P enn sylvaon our New Y ork Produce Exchange, and to the dealings nia Railroad Company, and the foreclosure of the West Shore road and its lease to the New York Central & Hudson, with a on our Stock Exchange, as representing two distinct types positive guarantee of $50,000,000 n ew 4 per cent West Shore of speculative operations, and even with regard to these first mortgage bonds. Following this, a strong pool was we can do little more than simply present the figures as a formed among the trunk lines for the maintenance of rates, matter of record. Here is a statement showing sales of which were advanced in November; the West Sho~e w as foreflour and grain on the New York Produce Exchange, by closed according to the programme, and under the final settlement of the railroad difficulties, the stock and bond market months for the year 1885, by quarters for 1885 and 1884, Both spots and in October and November was one of the most active and and the aggregates for five years. buoyant that had ever been witnessed. After the 20th of futures are included, but in the case of wheat and corn November there were occasional reactions and some irregu- at least the transactions are almost wholly of the latter larity till the close of the year, but nothing which amounted description. to a considerable set-back, and the year closed with all the SALES OF FLO U R, W H EAT, &C., AT NEW YORK PRODUCE EXCHANGE. benefits of the great railroad negotiation fully sustained, and [Two cipher s (00) omitted ft-om the figures for Wheat, Corn, the ability to sell at the Stock Exchange any reasonable Oats, B arley and Rye. ] amount of stocks or bonds at prices vastly better than those ruling before the settlement of the trunk line difficulties was F lom·. Corn. Oa:s. Barley Bye. 1885. Wheat. Total &Mau foreshadowed. - - -- · - - - - - - - -BU,Sh. Bbls. Bush. B ush. B ush. B ush. B ush. Pursuing the course of the year from its opening we J a nuary . .• . • .. 828,655 148,508,o 80,67t,O 18,848,0 617.5 61.9 190,1 88,817 observe that in January depression and dulness were the rule; Fe brua ry •••• 237,845 74,42 ',O 26,206,0 6,5U,5 376,5 95,0 108,709.803 the trunk line war was rife ; the coal combination, to make up March ..... . .. . . 809,415 111,120,0 2!l.261,0 12,186,0 170,2 96_1'.> 154,17t1.067 2 ◄ ,li Apr il . . . . . ...... 8d7, l07 14.2,306, 0 86,137,0 12,908,0 122.7 193, 152,28 t for the withdrawal of the Pennsylvania RR. Co., alloted an May 33,0 201,075 109,652,0 28,852,0 9,823,0 .... . . . .... 9.5 149,274,388 extra 1,000,000 tons of anthracite for the year, making Jun!). .... .. .. . . . 260,648 90,572,0 28,104,0 8,079,0 51,0 28,9 128,097,816, 31,000,000 tons in all ; Houston & Texas Central and East July .. .. .. . ..... 240,804 8 1,716,0 24,022,0 9,417,0 11,0 24,2 116,27!,548 8,5 159,628,800 Augu st .. . .. . .. dl 4,400 121,649,0 23,480,0 18,071,0 .... .. Tennessee Virginia & Georgia defaulted on Jan. 1. In February Septem ber ..... 328,1 10 146,793,0 21 ,869,0 12,119,(• .... .. 22,0 182,279,495 the depression continued except on a speculative rise lasting O ctober .. ...... 3 13,570 145,848,5 25,188,G 11,798,0 31!5,5 41,6 18 4,182,665 108,23 i,O 84,391,0 10,092,l r 593,5 20,9 lf·4,449,528 about ten days and led by Del. Lackawanna & West.; the Cen- N ovember .... 248,695 Dece mber ... . . . 228,740 12 ,639,0 26,241,0 5,830,Q 274,0 8,0 162.021,330 ---- - - tral Railroad of New Jersey defaulted on its coupons; the T ot a l 1885 . a 873,564 1,403,951,5 334,5 l3, 0 125,655,5 2,674,9 445,6 1,882,421,518 House of RE:'pre3entatives declined to act on the bill to stop 1st q ua rter, '85 870,915 329,048.0 86;189,0 82,520,5 1,194,2 253 ,4 453,069,217 the coinage of silver : the Southern railroads had the benefit '84 809,695 307,442.5 P8,05B,5 36,124.8 1,155,8 803,0 447,225,727 of the New Orleans Exposition. In March, April a nd May 2d q ua r t er '85 8'28,830 842.580,0 li3,183,0 30,808,0 206,7 67,0 470,524,435 783,336 240,012,0 117,655,4 86,338,6 226,5 1,123,9 898,881,412 '84 there was little animation, and the varying rumors of war 3d qua r t er '85 882,814 850,158,0 69,371 ,0 84,607,0 11,0 54,7 458, 174,848 between Russia and England had much to do with r,he course '84 971,845 30 1,205.0 68,297,2 25,821 ,0 107,0 452,1 410,255,603 of our markets. The Nickel-Plate road wet into n receiver's 4th qu a rter '85 791,005 882,220,5 85,820,0 27,720,0 1,263,0 70,5 l\00,653,528 '84 995,217 314,1183,0 71,303,0 i 5,286,0 1.241,0 244,1 417,H·5,577 hands in April and defaulted on the first mortgage interest --- --- --- --- - Tot al 1885 . ... 8,378,564 1,408.951,5 334,613,0 125,655,5 2,674,9 445,6 1,882,421,518 due June 1; the New Y ork Central, St. Paul, and Omaha divi- T ot a l l'iSi .. • 8.560,093 1.163,812,5 855,312,1 123,511!,9 2,730,8 2,623,l 1.66 1,548,319 dends were reduced ; Pacific Mail rose sharply on the passage Total 1883 . . ... 4.646,985 1,524,745,0 623,668,0 241,202,8 2,567,6 4,68'a,l 2,417,726,938. 646,470,5 445,172,2 Total 1882 ..•.. 5.166,456 152,637,0 1,701),0 ..... . 1,269,228,748 of the postal subsidy law, but fell off again quickly, and in T ot a l 1881 . .... 5,198,390 488,864,2 233,839,0 62,765,5 2,067,4 1,619,1 812,048,005 June also was weak on the loss of the Steam..,r Tokio and the Look at the item of wheat, which absorbs most of the refusal of the Postmaster-General to pay the extrd amounts provided by the uew law for carrying the ocean mails. The speculative interest, with sales for the year of 1,403 mil. Ohio Central was f orPclosed in April ; Chesapeake & Ohio lion bushels, and this simply on the New York Exchange defaulted on onP. half the interest on its " B " bonds due May 1: MiAsouri,Pacific settled the old Ganison suits in full; alone. Why, it represents more than three times the Lake Erie & Western went to a receiver in May; negotiation6' avera.ge crop of tbe last two years, and yet tbe receipts of were pendin~ for a leaAo of Oregon Nnvi !:!':.t.tion tn Uninu P acific and Northern P acific. All was sta~nation and depres- act.nal whPat at New York in 1885 were o nly a trifle over ~i<;>.n at t4e Stock Ex:change until the middle of June. 24 million bushels. It is true that t'1e aggre 5 ate sales are owing to the bills drawn against securities sent abroad and the prospective shipments of cotton; a small amount of gold was then imported. In the last four months of tbe year there was nothing unusual, and the purchase of securities for foreign account offset the small exports of grain and cotton; the Bank of England rat e was also advanced to check any outflow of gold. In December there was a slight flurry in exchange about the 21st, caused by a sharp demand for bankers' bills and a little excitement over the silver question in Congress, and bankers' short sterling advanced quickly, and a small amount of gol~ was shipped. Rates immediately fell off, however, and the year closed quietly.   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  SPEOULATlVE  TRANSAOTIONS-OLEARINGS AND  not quite up to those ·of the extraordinary total of 1883 but no more striking evidence of the marvelous growth of the business in recent years could b~ given than is afforded by the simple statement that in 1882 the sales footed up only 646 million bushels, and in 1881 only 488 million bushels. Besides, while this development in corn and wheat options has been in progress here, the same description of business has grown even more rapidly in the West. Passing to the Stock Exchange, we have figures with which the public is perhaps more familiar, but of even greater dimensions. Here there is no way whatever of distinguishing between speculative and other sales, but a very large proportion is ofeihe former class. The fol . lowing is our record, by quarters, of the sales during 1885 of the various kinds of securities. The great revival and increase of activity that characterized the last half of the year, makes the division into quarters particularly interesti_ng . Stock. S hares.  Sales.  ---- -- - - F irst Qu arter.. . ........  Second Qu arter ........ Third Qu a rter . . . . . . . . F our th Qu arter ... .. ... T otal..... . .... . . .. .  _!_{arket Values._  R R.Bon ds. Gov't B 'nds StateB 'nds Bank Stock Par Value. P ar Value. Par Valiie. Par Value.  ··- -  ---  1,271,700 1,267,700 2,661,100 9,477,553  267.145 202,980 253,380 298,425  92,53&,94i 660,659,400 15,261,200 14,678,053  1,021.930  - -  $ 21,084,808 ll7,225,900 13,990,048111,364,150 20,697,476 17!:f,849,300 36,766,f\15 272,220,050  Stocks.  ·-  $ 3,130,200 5,328,900 3,066,400 3,735,700  --  -  $  $  - - - - - - --  RR.Bonas.]Gov'tB'nns State!!_nds Bank Stock 3.768,565 6,230,470 3,581,005 4,338,107  479,459 692,312 650,41fl 2,409,304  $ 299.858 238,882 298,535 305,952  Total .. . . .. . .. . .. .. . . 5,479,859,840 449,690,253 17,918,147  4,231,491  1,143,227  First Quar ter . . . .... .... Second Qaar ter. . . .. . .. Thir d Quar ter . ... .. . .. . .l<'ourth Quarter . ..... . .  $ $ 1,286,318,985 66,653,460 856,99 1,515 72,451,4 t8 l ,l!J0,988,155l ll4,260.500 2,145,56 1,185 196,333,845  - - - - --  $  $  - - - ---- ----  The above does not embrace any sales outside of the Exchange or at any of the minor exchanges in New York, nor does it take cognizance of the sales at the exchanges of other cities, and yet we have stock sales for the year of 92½ million shares, representing a par value of over 9 thousanrt million dollars. The entire amount of rail· road stock outstanding at the beginning of 1885 (accord. ing to Poor), a considerable portion of which, however, is not listed on the New York Board, was only 3, 762 millions, so that the sales were nearly two and a half times this total of outstanding stock. The actual market value of the 92½ million shares sold was only a trifle short of 5-½ thousand million dollars. If we count each sale as representing two distinct accounts-one the buyer and the other the seller-we have a grand total of business in share properties of 11 thousand million dollars. But it will be of interest to see how 1885 compares with other years in the matter of these stock transactions, consequently we give below the agg regates back to 1875. N UMBER AND VALUE OF SHARE::! St >L f) A T NEW YOt< K ST OCK E X C HANGID.  Y ea1••  Stocks,• Shares.  18135 . ... 1,2,538,9!7  Av'ge Values+ P rice. (ap'roximat,.)  Year.  Stocks,* Shares.  .Av'ge Val •Mst Price. (av'roximate  64·1 $5,479.859,840 li:170 . . .. 7:&.7tl5 ,i 62 66'85 $!, l36,a33,570  188! . .. . 96,154,971 61 77 5,939,500,000 18 i8 .. . . 39,875,593 54'10 2,15 i,269,5S1 ) 883.. . . 9i,Oi9,909 64'51 6,2,30,809,961 18i7 .. .. 49.832 960 5z·20 2,601,280,512 1882 .. .. 116,307,271 136 12 7,fl~9.453,436 18 i 6 ...  39,926,99'.) 53-40 2, 13J,050,483  18'll.. .. 114,511,248 71·59 8,197,506,403 187i .. . . 53,813,937 53•20 2,862,!!03.683 1880 . . . . 97,919,099 139·60 6,819,086,05 1  * The shares of stocks we take from the record kep t bv the Jo u,rnai. of Commerce, e xcept fo r 1885, which a re our uwn comoilation . t The v a lues or sales are the :fig ures made up b y The Public, except for 1885, 188t and a p a rt of 1883, which are our ow n.  As the first six months of 1885 cover a period of great quietness and inactivity, if we take the last six months as the basis of the present volume of transactions the total sales for twelve months would be in excess of the figure for 1881 and approximate very closely to the unprecedented a~gregate of 116 million aha.res sold in 1882; values would be not nearly so high as then, but still they would be almost l¼ thousand million dollars greater than they actually were in 1885.   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  FAILURES.  5  CLEARINGS AND FAILURES IN 1885. Lists of failures as well as statements of clearings have a two-fold interest-as records of the past and as an indication of the future; for, if correctly viewed , they must always throw more or less light m both directions. Of course the more obvious teaching of the failures is simply historical; but that phase is of very little use, unless business enter. prise can get out of it some help or hmtfor future service. We purpose as briefly as we can to attempt this with the figures for 1885 of Messrs. R. G. Dun & Co., aided by our annual tables of clearings. The Messrs. Dun issued their rep~rt very promptly this year; it was given to the press with the clos_e of business on Thursday, the last day of the old year, but we did not have time then to comment upon it, and therefore only gave a brief summary of tb.e results. We now publish their table in full on a subsequent page. We shall see more clearly the meaning of these records, by remembering first the leading features which have distinguishe<l the course of business the last two years. 0 ne can best describe 1884 by calling it a year of distrust-not in mercantile credits, except subsequent to the May panic when for the time all confidence was gone-but ( l) in the monetary situation because of silver coi oage and the con. sequent exports of gold through the spring ; (2) in corporate management due to speculattve railroad building and disgraceful developments of official faithlessness in financial institutions ; and (3) later on in the year to our Presidential election and the vague fears which its result so wideiy excited lest a change of parties might cause a radical change of policy, disturbing Government credit and deranging industrial interests ; such a fear being the more general because it was so evident that the Treasury position respecting the currency and silver payments was every month becoming m, •re threatening, and calling for gl'eater skill in management. For the reasons last above stated-though the peculiar conditions that produced the panic of 1884 had almost wholly disappeared before that year closed-depression increased as the first q11 arter of 1885 progressed. So too subsequent to the inauguration our industries continued to languish, th'3re being no abatement in the unfavorable currency conditions, while all reports respecting the winter wheat ctop were very unsatisfactory ; besides nothing to encourage enterprise had occurred, nor was anything anti cipated, in view of the dull summer season approaching. It was not till the latter part of June that affairs began to wear a better look. At first it was the strengthenmg financial conditions that attracted attention, ( l) the Bank reserves, the largest our Clearing House institutions .evc-r held, (2) the Government's gold balance increasing notwithstanding the large interest payments made, (3) foreign exchange off several points and looking like gold imports in the fall. At the same time crops began to develop promisingly (with the exception of winter wheat) and rumors of a settlement of the West Shore, New York Central and South Pennsylvania difficulties oc tained currency, the latter being fully confirmed the third week o_f July. This settlement was a mos t important industrial event, its direct action being the removal of the chief obstacle to a complete restoration of confidence in railroad property, there by stimulating development in it and all dependent trades ; while indirectly it affected every branch of business, confidence like distrust being infectious. From that date progress has been obvious and marked, interrupted in some measure the last month by renewed anxiety felt respecting our currency, which is less nist,nrbhg simply beca1ne of cb.e improveJ  6  CLEARINGS AN.D  Ji'AILUR'ES.  position of tb.e Government, but can never be wholly quieted clearly, bringing out also the fact that at this cenr,er, com until the cause of the irritation is removed. To illustrate pared with November, business in December made no the effect of these varying business conditions, as seen in progress, but su:fferrd a slight chf>ck. the varying degrees of activity they have pr0duced, we Clearini.s Total All. Clearings Outside New York. Month. give the follow10g statement of clearings for the two years _ _ _ _ _ _l~5._ 18$Ht. _ _ ~r Ct 18:, 1:~4. P ,· Ct by q11arters, with percentages of increase and decrease. J  Cit,es Reporting Clearing,. (0003 Omitted.)  ""' I Quarter.  Quarter.  Sooond  r  Third Quarter.  Fourth Q uarter.  Total \' e ,r.  ------ ------- --- ------  N EW YORK ....• 1°"'5 .. $6,09'3;{ 12 $5,78'3,lfi2 $6,5!8,Ml :1'9,747.086 $2fl,15J;?Ol l8j4 .. 9.2.!5,774 tl,6 K.250 6,.!86.lil 6.~5,tl7U 30,lf 5,871 Per cent ......•.. . ... -33·9 -32·9 -t-42"4 -9·1 +3·7 ,91,27t BOSTO ~ .•.•.•... 1885 . 814.052 8U6. 7 oo 1,071,112 3,483,135 82.l,Ja9 18~4 . . 841 ,tH l 72i,628 852.080 3,t43.:-l28 -3·3 -s·s Per cent ............ +10·9 +2,Y7 +1·4 49,667 4fJ,115 PROVIDENC1£...18-.5 .. 50,508 67,175 216.465 51),0iO 5:{,685 55,325 ll:!.::14 .. 2U,848 46,768 -lG·IJ -11·2 Par cent ............. +~·o +25·1 +o·s 10,400 11},845 HAR'l'FORD .. .1885 .. 20,154 21,748 81,147 18•4 .. 18,098 20,000 2",~l 20.40'3 81.835 -rn·s Per cent .......... -1·2 -0·8 -08 +20·2 POl:tTLAND ..... ll-i85 .. 10,574 ll.469 10,904 12,949 45.896 l&U... 10,1:118 45,421 10.819 11,81!5 11,789 -3·2 Per cent .. .. ... . ... . . -s·3 +ti·o +1·0 +9·8 WO KCE3l'ER •.. 1885 . . 8,487 11,537 9,503 38,n51 9,02-l 9,697 ldtl4 .. 10,322 10.ois 9,5B8 S9.610 Per ce ·1t ..... .. .... -12·5 -5·; -7·9 -2·7 +15-1 SPH.I.'i F .t:LD. l 85 .. 9,2-ll 8,9i2 9,014 10,866 88,003 1884 9,IH5 9,412 9,530 8,729 87,586 Per cent ..... . ..... __ --O·s --4·7 +14·0 +1 ·:.1 +33 L OWlllLL .........18..'i5 .. 5,700 5,457 4,831 7 .12i 2S, 115 18.S! .. 5,3\J,J fl,53-1 6 .502 6 300 24,i35 Per cent . . ..... . . ... -13:4 -12"8 -10 ·5 -6·5 +ll't:1  .  January .. : .. February . . . March .. . . April .... . May ......... June . . . . . . . July .. .•. . . . August . . . . . September. October..... November . . December . . Tot al. .......  3,S07.5fll.R01 1 4,6lk,809,718-28'4 2.769,tl78.H88, 4,019,575.75B ~'-31·1 2,\.18 <.9 14.540 3,9M.l01,t188-24"'i 2,l'!1n,129.SM51 4,05Jl,2911.304 -28"5 2.W3.1<41,59\>. 4,528.43;,8-l.2 ~'{a·o 2.970 49t,40A 3,402.4.~.586 -12"1i S,4'il.S6!,II,:> 3.191J,03l.tl9il -t-8·5 2,9~4,25'3,6':'7 2,98:l,5"3,0flll +o·o 3,l12.02.!,4il 3,022,H90,897 +2·9 4,44<l,!H.R.1195 3,41:15,9JZ.44fl +~7•1 4,5U.210,474 3.HH,588,91 6'4 4,5~:?~~,441 ~12,8~~·~ 1 41.0t!'>.767.218 43.»05.007,805 - fl·6  ~3  1,122.184.205 1.235.985.0!U -9·2 86H.50l,251 l.0.)l,K31,Hl5 -17'3 9il,l46.1119 l,088,9Ui500-l0'8 1,02w,141.u2 1,l6H,1Jt1fl,Oii:l-1o·s W6,l04,S11 l,HIH.2:-JL,711-- - ltl·9 1,048.151:!,728 l,005.714.4H1 +4·3 1,095.\!46,0llU 1,011-J, 118,2.'\3 +7·8 1:14:-J, 155,233 93fl.8'tO,SSt + 1·o l,OIU:(;93,559 96f>,90fl.3fi8 +4·6 l,.!55,2112.798 l.U5,n8ti,321 +n·o l,\?22,2113. 110S 1,005,618,fM{ +21·5 .!.:_:30~86~,07.1 ~~.:.~1_,1no +:42' l2,8fl3.f65.,H2 12.9!1l.1S6.635 -0·5  Ooe other sta1ernent of cleartug~ is ustjful 1n tb.is connection. It enables the reader to see how business activity culminated in 188 l, with a speculation at the Srnck Exchange very mucb. larger tllan ever before, the new stocks and bonds added to the list tb.at year for railroa.d - - ----- - - - -$1-1Hl,65fl -- - - construct10n and scrip dividends being beyond precedent. T otal N. Eng ... JSS:5 .. $81J4,119i $1-11 t,1S5 $1,202,514 :l-3,92fl,402 1-1-11,:=!7<, 1S81 .. 953,1'!93 IJtll,705 3,687.3tj3 It also shows that sinc-1 th.at date the contraction in 830,3.!5 Per cent ............. -3·7 -5·0 +0·7 +250 +o ·5 notwitb.p HILADEL'A ... 18il5 .. 707,09~ 2.374,490 business bas been constant ; and th1s year, 561,014 571,920 534,428 188! .. 57:{,IJ5.'j 571:,,0;.n 2,52·1,188 6»0.~9 677.:308 standiog the improvement durin!{ the last six rnonths, tb.e Per cent ............. -18"8 -21'1 -0'4 -5·8 +22·3 p I'rl'SBUH.G .... 188->.. fl9,418 67.400 96,832 356,172 82,527 1 18:14 .. 140.401 9fl,S53 90,177 183,382 46fJ,316 year s total compares unfavorably even with last year. and Per cent ..• .'.... ..... -86·3 -ss·1 -1-J·S -2"4 -2l'l Toe ta ~le B AL'l'IMOH.E ... 18~5 .. 142.170 151,889 5'3l,918 1s 22½ thousand millions smaller than in 188 l. 152,528 135.331 l::!84 .. 631,,17 161,94S 147,7W l60,83L 161.224 gives .first the clearings at New York, next the clearings Per cent ........ ... .. -12".! --8'4 -5·6 -54 -7"9 --------- --T otal ;tliddle .. 188-5 .. $769,483 $792,62i $794,651 955,819 $3,312,580 outside of New York, and finally those for the whole 18~4 .. l:lfJ3,236 818,027 971,914 838,039 3,621,216 Per ceut ..... . ....... -20·8 -20·2 -2·9 -tS"5 +14·1 country, br eight ,years. C EIICAG0 ...•.... 1'185 .. 1884 .. Per cent ......... CINCI~NATI .... 1-135.. 18:M. . . Per cent ......... .... MILWAUKEE ... 1S85 .. 18-14 .. Per cent ... ... .... . .. DET 1:tvIT ........ 188.'; .. 1:,84 .. Per cent ......... . ... IND 1AN A.P'.:! .... 18:15 .. li:!84 .. Per cent . ............ CLEVELA~D ... l8i5 .. ld'i-1 .. Per cent ............. COLUMBUS ..... 18~5 .. 18:l4 .. P.ir cent ......... . . .. PEOR[A ........ . 18:-35 .. 1~8 l. . Per cant .... . ........  4'-9,802 5fl8.466 -18·8 107,0U 116. 11.l - 7·8 44.012 43,305 +1·6 30,118 St.9·W -fJ"7 15.Hl6 l9,11id -23·9 22,546 24.565 -s·2 15,890 15,7811 +o·6 11,6!2 11,1'96 -19'6  li78,70.t 5112,807 -2·2 110,3811 lHl.166 -7"4 43,7 ll 44,99-1 -2·u 32,nqg 33,339 -2'4 14,5i0 JIJ,o08 -26"4 25.241 2-i,302 -10'8 17,321 18.B33 -5"5 9,427 10,833 -13"0  5 <10,56'i' 523.5~6 +7·1 105,488 109,065 -3·3 42,lfl6 41,147 +2·2 37.212 83,5=11 +11·<, 16,fiSl 14,789 +rn·1 25.896 25,5.:i 6 +1·0 16.!'17:J 17,$111 -8"6 10,658 10,402 +24  689,50£1 581,575 +is·i; 122,362 lltl,146 +5·3 3fl.fl l 4 46,505 +21•4 42406 3i,812 +21·8 !9,3S-1 18 llSd +3·7 29,878 27,tt22 +8 ·2 19,~9I 17.68-1 +12·5 11,029  Tot. Wct1tern .. 1~5 ..  $734,2211 833,l31 -11"8  $83L,89'1 807,582 --4"1  $815,211 775,997 +5' 1  t;9fJl,020 tS.372,349 853.809 a,3,M,5lfJ +16· 1 + 1•3  ST. LOUIS ........ 188-5..  180,801 216,1•10 -166 7,516 10,141) -25"7 115.228 155,77S -26·0 53,529 56,38 1 -5"1 4fl.916 3t1,80S +27·6 21,551 1~.537 +rn·s  188,707 19•1.4'18 -s·9 ll,6S2 9,411 +2·u 73,839 05.87L -240 !-4,7'31 60,368 -l:J ·S 5i,10l 40,0fJl -t-42"4 1S,355 l ',!29 +7·5  187,188 182,963 +2·:l ~.092 7,-.ltl +l6·S 5'3,2~7 59,,-il6 -12 ·t1 50_1177 ~4,917 +12·8 54,487 50,23K +s·4 '9 .845 B,625 -t-48"(1  202,434 ll'SS,831 +;·2 10,188 7 fi38 +sci'? 145,010 143.51.11 +1·0 58.810 50,,JUO +11·6 6S,691 511. 1;ji:j +21·s :l2.!t5'.l 22,411) +22  7:\9,130 785,202 -3"3 3tl,708 35,0 ,4 +4·7 386,364 q5'1.1151 -15"1 217,749 211,tl ·8 +21., 222,285 177,175 +25 ·4 67,704 6 •,11-lO +128  ?881 . . Percent ..... .. ......  $4?5.611 49-1,560 -ld·9  $3:-17.367 414.(1!8 -42  $3fl3 5i6 35t,37.> + a·2  $503,336 4 ,2,511i +s·8  ~ 1,6811,890  S. FRANCBC0 .. 18'15 .. 188! .. Per cent .............  mo.on 138.581 +0·4  13!,578 12J,380 -t-4·0  110,474 HO,<l:i2 +0·1  1~8,'221 14'1,516 -0·2  562.345 556,>-5\-J +10  ~O,R2i'  +1·9  2,818,579 2,2613,434 +2'-i 445,250 460,4-,9 -3'3 186.503 175,951 +u· o 142.291 1S3,612 +tJ·5 65,931 73,213 - ·,i·O  103,561 106,•J45 -2·3 69,4i5 69.717 -0"3 40,75tl 44,0,)8 -7·5  NEW YORK CLEARINGS.  Year.  Total Clearings.  IPer Ct. Inc. &  1R85 ....... 1884...... l ~. . ... ... 1882........ li:!8 1. . .. .. 18~0 .. . ... . . 1879 ........ 1871'1 .... . ..  -t28.152,201.336 30,~J85,87L,170 37.434,300,872 4fl,916,955,03 l 49.376.8'1t,88S S8,6U,4t8,22:l 29,2'-15,673,8·?9 Hl.858.671 .~07  Year.  ings outside New York.  Dec.  Double St,,ck Sales.  Per Ct. Clearings Inc. & Less Doub le D>'C. Stock S11.lf'S.  -9"1 H0.959.719,6811 -7·7 -17"2 ll,::!79,000 000 -5·1 -20·2 12,521.6 rn,922 -18·6 -5·0 15.378.9116,872 -5·9 16,335,0 L2,,;06 +18·2 +!7·11 +:-12·; 13,638,172,108 +64"9 8,273,287,UU +945 -t-47"2 6·7 4,254.539, 162 18"2  Tot'll Clear- Per Ct. Inc. & Dec.  Per Ct. Inc. & Dec.  -10·0  3L 7, Hl2.48l.656  "· 1()6,871.1701 -23"3  24.912.fl80,IJ5 I Sl,537,1'48, ' 59 SS,04 l,8i0,077 24,\.176,·~7ti,l 151 20,962,406,68~ 15,604, 132,14G  -21·0 --4·4 +s2·1 +19·1 +84·9 -!3"2  f1LEARINGS IN THE WHOLP. f10UNTRY.  Less 1,ouble Per Ct.I  New York Stock Su.•ei1.  Inc. & Dec.  Inclnding Stock Saies.  I Per Ct. Inc. & Dec.  -------- --- --- --- --- - - - ----------- -- ------------1884 _ Per cent ........... ..  1884 .. Per cent. ........ ... . 81', J0.5EPH .... 18~5 .. 1884 .. Pel' cent . ............ N. ORLEANS ... L,..81 .. 1884 .. Per cent ............. LOUISVILLl!.l .... 1885 . 1·8-1.. Pel' cent ............. KANSAS CITY .. 18'i'> .. lSSi . . Per cent ............. MEMPHIS ...... 18,5 . . 1834 . . P r cent ........ .... ,  - - - - - -·-  Tot. Southern.181-l5 ..  --- ---  - - - - - - - ----  l,72t 180 -20  --- ---  ---- - - - - - -  12,601,330 11,l:IRfl,IJ:!f.l -28'1 -26·1  9,2 1&,317 IO, 11 ,S42 43,90,-,,.,od -6"tl +1·0 + 4·0  Total all .. .. ... . 1A8!'i .. i0.060,7\.15 $'1,8(13.288 $9,:')43,68~ $18, 147,9fJfl $4L,Ol5,'i67 1884 .. Percent . ....... .. ...  --------  --  - - - - - - -- ---$3,0;',5,IH7  Outside S. Yk .. l8:,J5 . $2,982.4K3 $3,075,126 l~! . . Per cent ..... . .. .... .  3,878,556 -1.i·s  S,35::l,739 -8"4  2,9li,l7tl +i·5  s~m:~  $-l,800,1)"0 U2 8t18,586 .6 1 12,~~:~37  . Tne approach of the storm which broke over tb.e country in the May panic of 1884 is not disclosed ·by ib.e above, as it had been gathering sinct:3 1881, while this statement only covers the two years; but the course of the depression following it, is marked in the figures for the last two quarters of 1884 and the first two quarters of 1885. For it will be noticed that all the improvement in clearings is confined to the last half of 1885, and has been pro• gress1ve, the fourth quarter showing better tb.an tb.e third. 1;he following monthly figures dtscl >Se this cond1t1on more  https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  1885. .. .... $12,863,565.912 / 1884.. ..... 12,919,186,635 18-<3........ 14,!03.~59,5091 1882........ 13, r91,.J77,518 1831.... .. 13,l?IJ0,3L7,3l7 1880....... . , 11,imi.400.000 1879 .. ..... 9,290,801,0 10 1878..... ... 7,1155,lO ,,ooo 1  -05 tl30,056,04i,568 --O·t $41.0l5,767,218 -8·4 82,0i6.0a7,,05 -17"9 43,I-J05,00i.805 +2:2 S!l.Ql~;!:0.4~91 -18:9 51,587,tifl•J,3 <1 -1 2 45,S32,5.5.6 ,7 -3 8 60,71 l,532,5-19 +22·7 47,0U2,l87,,J0-1 +2,1'1 6~,337,201..' ,200 +22·41 sfi,3:'it,fl76,ll:')I +~0-2 49,H8fJ,84~.·z2J +rn·s 30,2-'i3;W,S,689 +2s·8 3Q,5J•l.47S,829 -/l·2 2.J,559,233,145 -4·1 21,1ns.111,::o,  -6·/l -14"8 -15·1 -4·1 +26·7 +21J·7 +:.ia•5 -6·6  Turning now to tne report ot' fa1lures, tne .firsL f~amrt1 that will probably attract attention is the great nurn ber of disasters which ·have occurred tb.e past year. The total has only once been exceeded since these records wern pub· lished and that was in 1884. In ltabilities, however, 1885 shows a large falling off, being almost fifty per cent less than in 1884. Do not these two facts .find a full explana. · tion m what has already been said? The enormous liahilities of 1884 were ·a special feature, never before equaled, due to remarkable conditions ; and the :;everity of the pressure beginning long before that event, and, relieved only partially in the last six months, is well ma.rked by the numbers of merchants witb. small capital wbich have been dropping out of the ranks all through 1885. For depres . sion when so prolonged is a very severe trial of the power of endurance ; and furthermore, it must be remembered that not by any means have all trades shared in even this late improvement, many closing the year w1tb. apparently no more promise than tb.ey closed 1884. Following our division as to clearings by quarters given above, we have compiled in similar style the failures for four years, so as to group these results in correspondin~ periods and make the comparison more perfect.  CLEARINGS AND  FAILURES.  7  =============,=====-====--~========= ================-·=====1885.  Failures.  F-Lrst Qu.,,rter-  Num her of failures... . . . .. Amou nt of 11aoilities.... .... Numberto year's number .... Liabilities to year's liabilities Becona Quarter·Number of failure~ . .. . . . . Amount of liabilities........ Numbertoyear's number .... Liabilities to year's liabilities Thira QuarterNumb ~roffallur •s ... . ..... . Amounr of liabilitle3. . .. . . . . Numbertoyear'snumber .... Liabilities to year',i liabillties  1884.  1883.  1882.  One other feature  in  this year's statement of  fail-  ures remains to be referred to, for to an extent it modi-  8,658 8,296 2,821 2,127 $46,121,051 $40,186,978 $88,872,648 $83,88'-.271 St·89 per c't 30·05 per c't SC·72 per c't 81·57 per c't 37·13 per c't 17·76 per c't 22·20 per c't 32"88 per c't  fies the gross figures for 1885. That is, though the numb fd · 1 h" 'fl er O isasters lS so arge, wit m a tr1 e of the number for 1884, yet when taken in connection with the number in  2,846 I 2,214 1,816 1,470 $28.601,so4 $84,204,304 $27,816 891 117,242,649 business, the showing is not quite so unfavorable. We 22·05 per c't 20•19 per c't 19•77 per c't 21"82 pe c't have therefore prepared the following table which covers 23·02 per c'tl 37·20 per c't 16·(,9 per c't 16"U8 per c't these pomts for the four years, and sufficiently explains 2,173 2,346 1,808 1,800 itself. $28,874,391 $56,627,8?1 $52,072,884 $18,9~2,893 20·~3 per c't 21·39 per c't 19"63 per c•t 19·29 per c't 19·22 per c't 25·02 per c't 30·12 per c't 18·65 per c't Pacific, Fourth QuarterEastern. Middle. South'rn Western Years. Total. &c. Number of failures....... . . . 2,4110 8,112 2,744 1,841 - - - - - - - - - - - - -1- - - - - - - - - - - - - - - - - - Amount of liabili ' ies . .. . ... . $25,628,575 $45,824,824 $5!,612,254 $3~.02il,751 1885. 61,218 919,990 Num "' erto ye11r's number .... 23"13 per c't 28·87 per c't 29·88 per c·t 27·32 per c't Number in business .. . . 96,414 261,564 142,175 358,1119 8,302 1,261 2,498 2.346 Liabilities to year's li~bilities 20·63 per·c•t 20·02 per c't 31"59 per c't 31·54 per c't Number of failures .... . 10,637 Percentage of failures 1htalyear1 ·s1 0 •92 to number in business 0 "96 1 '65 2·01 1·16 Number of failures.... . ... .. 10.637 10,008 9,184 6,738 1884. Amoll.l'.lt of liabilities ........ $124.220,821 $22'3.343,427 $172.874,172 '101,547,564 Number in business ... . 92,381 278,098 142,894 886.910 54,481 904,759 1,375 S,869 2,592 2,291 1,841 The increased number of failures tb.e last quarter of 1885, Number of failures .... . 10,968 Percentage of failures shown above, has no special significance. The beginning 0·93 1·49 1·00 to number in business 1·2t 1"60 2"46 and close of every year are times of peculiar strain, and as 1883. Number in business .. . 90,881 262,021 185,159 822,877 5S,60'i 863,998 there are so very many more merchants with small capital 1,844 2,961 1,197 2,Hl6 Number of failures. . 1,046 U,184 Percenta.ze of failure• than with large, the amount of the liabilities seldom follows 1·88 0 ·82 0·92 to number in business 1"86 1•93 1·06 in proportion, the latter being controlled more by other cir· I 1882, cumstances. As to the liabilitiee for the last half of 1885, Number tn business .. . . . 88,689 248,742 126,2~1 808,485 50,059 822,256 1,667 1.618 1,0::0 731 6,738 11 l' b · 1 th f th · Number of failures . . . . · 772 1 h t ey are espec1a y sma 1, emg ess an or e same six Percentage of failur ... s 0•117 o·87 1·28 o ·6s 1"46 0·82 months of either of the other years given above. to number in business  ,.2o•  I  I  J  ------ -----------------------  FAILURES FOR 1885, 188!, 1883, 1882, 1881 AND 1g7s.  Nmnbe,·  lfl8:') .  i~~:S1~~!- Sea:~!o~?le~.Ter- _f_:_~i-.-A-~-n-~t-,?-t.-of_ 1  __  F_!_f_i-__A._m_o1-t1_i_t-o-f  m·es. Lial,ilitte;-; . w·es.  lSS.:> .  ____ ,______ - - - - - - --- Easteni. 13, 70/-· Maine . . _..... 8,173 N. Hampshire. 6.5 i r- Vt-l'JUOllt .• 45 ' 38 1 l~ Massachn't's Bostun .... fl,749 H.hode ff'land. 15,88'1. Counecticut .. 9t:i,41-.  205 'i9 44 3RO '27 1'26 176  $ 1,()50.181 56'!,:,92 ?56,:'lbe 3 9 -.!3 .,,,-:4'a7 :bis l,'..'4q,591 1,714.486  18 83. 1,.,82. 18~1. l 878. Number I A.mount Of pv;;_i,. A. mon11 t of fi-,!-t-~---_A_m_o_u_n_t_o_t_1-F-,~-,~--i- _A_m_ot_t_n_f.-o-f i:e::tf,t Liabilir·ies. w·es Liabilities. ures. Liabilitie,;. twes. Liabililie;. ttres. Liabilities. lti7S.  1884. 1  231 !•6 48 !i!JII  3(15 136 169  I  fail-  - - - - -1 - - - $  875.267 572.07:l 683,707 4 .0111, - 91 6 ,33:!.3~H 3 .~ · 5,·- 6!) l,41H,3U6  - · - - - - - - - - 1- - - 1-- - - -·I - · · -  $ 942.0 ' 4 395 .04:'I l 47,:-l4 2,888, l 61 6,064.450 2,155,419 8 !18,96.,  $ 76 44 ! ,708 fll 33 ·. !.40 2'2 155,0 0 319 3 H3fl,79 :'i !-)7 3 .856,450 77 l,61 ·.!.011 130 836.71:,8  772 13,4!-Jl,400  77'2 11,071,!.,: 6  $  223 2,253,ll r 75 4 li:,.799 45 5.72!,263 4,5titl, ► 33 391 ;l H5 2 11,908, ... 5~ 109 3 .25 1,792 119 74-1,242  - - - - - ·---1- - - - -1---  Tot. Eastern l,261 12,'130,433 1,375 17 ,22a ,83 . l, 197 37,861,897  61 54 39 327 lt17 9H 88  $  1,406.200 11,004 ~51,7:.!9 7.587 6,751 1 1 3 1 .84:!.3 ,O 604 12.10;,6 lfi } 36,713 W! !l ll,'2 7:-1,:'12:~ 5,!23 130 2,521,981 12,5-S7 2t:Sl 4,68 •,588 170 111  1 ,734 35,294,026  79,7u5  .Micfd e.  New York . .. N.Y. & B'k:n. New Jersey .. Penw~y I ,·anin. Philadelphia Delaware . _.. . J\1 ; r.1 land ... . Dist. of Col. _..  7C6 10,949,894 595 10.794,708 444 677 7,9 '9/'t41 7,144,217 4'21=1 4.S'H,074 96fl 15,791,084 73,WS 718 ,7,,n5, 721 545 21'.!. ,; J0,2 5 45 _; 21,'212,308 388 14,674.3 14 5 f, 19, ~7 1.9~6 37, l!l2 863 42 fiOl, 7 1 l ·.: 2 9 P),6·19 1,31H,339 121 2,182 .425 l I 3 1 I9 77 4, :'1 36,34,, rn~ 4 .7.U.993 19.51!0 l .~71,998 653 l 2.3 10, I H3 5 ::n 10,06 .071 43 I 5,65:';,.., lfl 250 1.853,5~74· ~,><64.t:-l7 60,540 770 18. 714,270 2(14 2 ,9!1!, · 6~ 225 6,89 .:. 03 ~ 174 3,!'i09,3-!9 l 09 2 -,7 10.373,700 19,fH:i8 4,005.887 l 31 4,3U.7-7 '23 l ' 5 ,250 27 553,900 15 206,757 1 '2 '7\-1,400 '.:!3 2-<l,flOO 3,615 7 73.2 0 17-; 3,777,8114 112 2 .0 8,189 127 1 ,f- <-i4,502 13,32(} 80 1,261, 1-l• 75 2,484,991 11 •· 2, 6".l,98ti 41 212,694 3:.: 8 ~16,1"'. 52 38 27/j,497 23 15«,887 1'2 109.30-1 30 320,202 2,713 - - 1- - - - --1 - - - - 1- - - - -1- -- 1- - - - - -1- - - - - - - - - - - - -,- - - - -, ---- - - - - - - - 261,5ti ➔ Total Middle 2.498 -l5,865,840 2,592 ll~,856,060 2,13n 57,108,534 l,6 ti7 41,385,6 ,:>2 L,37.! 32,924,538 3,199 9 J ,293,466 229,385 ,Son he1·n. 193 14,4 3n Virgina . . . _. 27 1 7,64 1~.023 1,448,815 137 91670,583 10.114 2,'235,'299 126 1,195 .6 · 5 2,'! 1 ~-~ ~4 134 oo.--. ,:, 60 55 66 4 117,053 96 751,327 ~.2 4 West Virginia. 389,4:iS 41 18",'2:i:1 5,39J 36!-l,011 45 40 17• • 1,241,621 154 1,357, ... 1 6 I:-l4 83 fl~l,~74 9,47:'l No. l aro lma .. lb9 1,0-14,l 13 9i:! I ,82~ i-9 1 .067,2011 6,635 1 102 877.0fl5 93 1,151,666 908, :'1 4 ! 90 6><4,5513 l,7-8,:'l22 6.470 ~o Carolina .. 119 1,4·"8 578 93 L593 59 2,18 1),>-<39 1:38 238 3,4 1·/571 213 10, 11 Georgia . . . .. . . '1.h 2.566,235 1,930,563 132 2,379, : 48 3.73-<,134 119 7.748 4<1 1,, 2'23,3!;2 36 ,,103 49 297,ti". 7 1 87!} 3,918 l' Jori , a . ..... . 670,53-! 34 17 167,:<20 2 ~2 133,288 68 1,453,3 1 I 5.j 87) 8 .61 Alabama .. _. 65 0,710 39 1,017.1 .- 5 874.116 .! 1,188,276 104 2,0-! 1,340 5! ~-~l~ 155 :1,00 I, ~;, 4 15 I 99 , ,150 n, => 2:"l 9,3o , Mi:,1sis-ippi. .. . 157 2,658 .722 197 2,33 .j,\.lfl7 15"~ 1,1-:1 12, I :W 1,07-i.6 •i 0 99 1~4 5.408,Q16 1 77 3, :-{35.67H 178 3.l6'2,918 106 1.6 4,577 4.830,46 ! 7,859 10,5 2 Louisiana . . . . 21 ft ;'i,O::J5,~ll 127 ll,! ➔ (19 -Ha 4,365,375 3·_0 3 ,057,H65 20! 1,61-1,2-">4 23-l 2,713.!-120 2,733,-25 221:' llJ,,,3 , Texas . ·-·-·-·· 3 ·s 3,3 H4,460 121 596.72 :{ 1,14~•,l 4 8-! !)5'2.532 94 7:'.>4,724 10.: -107,65 ~-J 7 ,7:~4 Arkansas .... Hle,<!5 H5 41 4.211 1 219 2,0n3.265 J 54 l,bb7,727 131 5,9fli>,756 2 n ,91;:~ K1·n 1uck.v .. _.. 276 1,94 1,5~~ 3,716,096 H3 l,' 83, ~ 13 220 16,846 2 ;, 8 1,65-!,86 I 220 1174,3:..!6 164 ·12,41 . Tennessee ... . :.:i-<2 1,-06,619 1,ti3'2.~64 187 1,393,353 H' 4 2,205,870 8 .~43 - - - -- - ---- - - - - -1--- - - - - - - -1- - - - - -1- - - - - - - - - - -1- - - - -11 - - - - l 4.!,175 Tot. South'n 2,346 28,814,0 j ~ 2s,318,557 1,844 19,785,607 1,618 20,998,12::1 1,4:rn t6,46 tJ,4b 1,415 26,322,901 96,2u7 84-,067 48,•35 26,2..,1 ,.,.1 8 ~ 59 ' 4,075 15, - 46 3,50v  l\'e;tern.  67 339 5 Ohl(? · ·:····: ' l , :1ncmnau 3• ,762 In<linna . . ... . . ti 2 79 g 5 Illinois . . . . ' - l Clucago . .  a2,s;34 Mkbigan ... . .  ~7 ,72~ Wiscon:sin . __ . ao.021 Iowa . . _.. _... . 2-l,355 Minnesota ... .  : .. . 43 _561 l5 Mi:-souri St. Lo111s .. · 20,76 Kansas .. ·--··· 12,459 Nebraska __ . ..  ----  3 8,619  386 5.50 23,174 6,s , , 1.280 2,7• 3 1,573 714 2 129 9,988 2.t.l53 3,2-! l:1 8 2  588 5,570,728 \.ll 2,<J95,•, >0 293 2,4::r >.528 l>7~ 3,510 2-U 2, ;-1 4~,612 31 '23 8 2,018.::$15 lo9 1,259,00 11 :i70 2,::l ::i4 .757 190 l,5 H9,093 9 ·2 8,006 18 ,1 1.790,100 1,377,1 ;7 2'-'5 141 8 . 9, 8 54  552 11:.: :- 04 374 32>1 ::03 170 412 220 191 b5 !-)7  '220  9,710,039 2,9'"5,8 · 2 5,775 113 h,714 9fi I 6,946,986 3,781i,O-!l 4,~12,470 2,4 :➔ 5,653  4,51 • ,101 997,041 5 ,849.4., 6 ;i (l><,~ :'\ 11 1,400,396  53 ., 10,48fi,278 79 1,765,575 270 3,41 6 . 182 328 3, I 8".l,733 277 13,203,279 275 4,347,1195 1 -; 3 2 ,-rn ; ,432 420 2,249,ti5 I 116 1,129,~8'2 15::i 8•5,6 'l9 71 2,252,26 ·2 161 72 0,070 100 35U,700  - - - - - ---- - - - - - -  288 47 l'l4 1.i8 10:1 189 97 194 70 221 7 ~•  267 113  ----- --  2,68rl.817 765,7;34 1,68~,565 1,193.7-1-11 2,•ti:!ll,586 l,4i"n,870 1106.114'2 1,415,773 355,990 1,446,450 2.701, , 20 l,'> l 0,9 K7 450,023  187 1,292,067 4.8 l,fl07,>-06 683,2 ► 9  7:-lOd  5 ... 5,,18 l,!180.700 1,750,~3'2 l, 46!-),616 9 6 ,601 391,>-<27 1,06:l.7:W 1,878,331 1,704.8 LO 360,415  3,  209 77 75 73 163 5 :'I 262 13'2  515 10,'!~9,300 ~ 49 , l!lB 7,:,,0, .i ll 5 216 5,2!~3.54!• 25,402 374 7 · 6 7"l ,!-1 3 l ~ 51 075 470 362 12 9:?6.800 5 ' 6.627,709 23,::l3o 369 2 ,317.38 ~ 20,305 163 400 3,4~8,100 2:l.760 1,o ·,2.40:{ 9,121 149 lfll 1,036,4 I G l 26,878 4,17 , ,3 0 5 167 44 617,90~ 8.86:l 8'25,400 4,029 106  - - - - - - - - - ·---- - - --- - - - -  Tot. Western 3,31/'L 28,047,09i 3,369 54,87~.983 2,961 4.6,878,40J 1,950 19,019,175 1.504 15,594,731 3,436 61,309,50:::l 240,9Ja Pa.c. <i: 'L'err·tt's. Indian Ter . ... -····· ........... -- . ·-···- ···2gs·21-i ···=i.-s -- --- --- ... . ...9:{. ···955:ioH "":35 ··220 ···-··11~:500 ·-··2:670 1,457,500 193,500 Oreµ;nn ........ 16'.! 33 6,89fl.5:{9 353 2,411,400 281 1,5 99,600 '23 7 447 2 .6 !l,700 1,552,0oo 169 1,437.000 310 { 1.: alifOl'Ilia. 17,058 2211 2, '-32,300 188 2\t1 3,755 .=" 00 14~ 2,195,000 106 1,353,000 4,700,591 S. Fra.ntisco i:25 2,454.40 • 6~7,4,H , olorado . __ . . . 12 l,98 •-i,H64 169 139 9: 541,542 765.182 2,:!59,38 -"'> 182 l,2ti0, 191 58 2,522 2 q :12-1,500 310,201) ~3 196,1-00 24 267,000 37 419,797 1,5 16 25 35 182.200 Nevada. ...... .  ·-· 1s~:ioo  }  utah . . .......  :l:.:  New Mexico . . Wyomiug .. __ .  2, ,  Idaho . .....•..  '20  ti  308,!J : 0 361,100 B9,:oo 112,"36 401,8!,0 ~ 0,7 5 588, ·'0 108,700  36 25 2 8 117 30 143 ~5  201.921 305.220 51 189.~os :n 544.H2l 7 ~,500 13,3 00 5 17,i,300 74,000 l>72 -.. ,1 ;4 -i 9 11 1,075,7,..0 315,o no 353,6-l.O 26 54 ·i,~37 SH . 00 50 528,700 58~,100 36 .... .. ... . . . .. ....... . .......... . . ..  15 Ii  ......  5  3:-i Dakota . . ...... 88 ~i Montana . . .. . 7 2 11 113 Washington. l'Ar izona ...... 31 . ..... 38 Alaslrn ....... ·- ---- ·····--· . .... -- - - - - - - --- ---·- - - - - - - · 1, ·! 3U l,:'l41 9,062,~ ' 3 13,071,996 1,046 11,239.731 61,218 Tot.. Pac.&T. 731 - - - - ·•- -· -- - - - - - - - - - r72,874,r72 6,738 226,343,427 9r84 9r9,990 Grand totals ro,637 r24,220,32r ro,gbS  ---  1  -- ·  --  --  7ll,045 Dom. of Can... I. 5   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  )  w.C(ll,609  1.327 19 .191 .3"'1 l .::{q4 l ''d i t C1,:J(,l  7B:-  274,071 135,500 --· .. 12.500 1949:'I·. 71,llOO 128,300 454,UOO  ....... . ... .. .... .  6,653,21.:t  18,200 51 ,500 4,1100 63,000 l"ll,10 ~ 6~,oo, 99,5H3 63 ,J,000  10 4 2 4 12 4 12 }.8  ..  17 10 11  7  ··•-·s 6  12 , 11 50 63,90.i 62,0 .JO  -····sa;oi.io  ..... . . .. .. .  16,900 81,::W7  ... ........ . ..... . ........ ... . ...... . . . ...  --,-----------  495  5,09'>,0941  ·- --- ---  6!)4  13.1 03 ,1 76  ror-547-564 5,58~ • 8r,~55,q32 ro,47~ 234,3~3,r=~ 1 n1 , . ;i,7o .207 1,69 , 2 1.fl0·.6 11  i-1 . ci~ 7 .(Fi7  1,265 369 39-1 299 840 401 816 202  -23,361 -- 674,74-I ·-;- ··.~-17  AND  BANKING  FINANCIAL.  8TATISTICS-HOME AND FOREIGN. BANKS OF THE UNITED STATES.  I eeding The different items of resources and liabilities in the pretable indicate that the business of the national banks  The report of the Hon. Henry W. Ca.nnon, Comptroller during the past SP-ven yeard has generally incrt"!ased. having bt'en larger during the pa'it year than at any period since the of the Currency, for the year 1884-85, was full of organization of the national banking system. The itt"ms of United S rateR bunds and circulation have decreased. It also important statistics relating to bank and currency move- app . . ars from the table that the aggregate liabilities of the ments. The following is condensed from his extended narional banks to depm1itors and correspondents, which were reduced during the previous year upwards of 94 millions, have increased during the present year more than 180 millions. report : 'l'he tab le also shows that during the same period the naDuring the year ending November 1, 1R85, one hundr@d and t,ional banks increa. -ed their cash resources by about 46 millions forty-five banks have been organized, with an aggregate capi- of specie, and decrea~ed the same by abor.t 2½ millions of legal tal of $16.938,000; circulating noteH have been issued to these tenders and United t3tates certificates of deposit for same. * * new as:-;ociations amountinJ;r to $4,274,910. The following table exhibits, in the ord<-1r of their capital, the These banks are located hy geographical divisions as fol- twt-'nty-five Sutes 1exclusive of reserve citiPs), having the lows: Eastern States, 4 banks, with caµital of ;t-400,000 ; Mid- largest a.mount of capital, together with the amount of circuladle States, 20, with capital of $2,895,000; Snuthern ::states, 21, tion, loans and discounts, and individual depo.-,its of each on wi, h capital of 'f;2,425,000; Western States, 76, with capital of October 1, 1885 : $9,473,000; Pacific S tates, 8. wi th capital of $725,000; TerritotorieH, 16, with capital of $1,020.00C•. Lo !n< and Individual STAT~:s. , Capital. Circulation. Viscount8. l>epositt:1. Since the establishment of th ➔ national banking system, on Ft"bruary 25, 1863, th1-1re have been or~anized 3,406 national !Vfaf:1sachu:-.etts . .. . $45,095,650 $3.J.,200,534 $d6.0 ~0,367 $51,715,367 banks Of the-e, 432 have gone into voluntary liquidation for New York ..... . 34,,;l9,7 ti 0 23,U89,591 8a, 54,2;)6 77,831,371 the purpoi:ie of winding up their atfairs; 79 bavA gone into Pennsy l Yania ... . 32,665,340 23, -1 01,4(0 65,21)9,486 61,821,735 11 ecticut ..... . 24,!-121,>-20 15.932.,,00 40,501,279 •14,4b2,71<l voluntary liquidation fur the purpose of reorganization; 64 are Con Obio ... . . ...... . 21,90 ,1,5~0 13,474,579 40,660,917 31,f) )-< 4,7Fl4 in liquidation by expiration ot their charter, of which number Rhode Island ... . ~0,340,0"\0 12,056,177 30.9 4,846 13.096,232 38 have been reorganized, and 104 have been placed in the [llin is . . - . .. ... . . . rn,o73,60o 6 .154,525 30 636,-l~4 27,693,7 0 8,007.406 29,34:~,06"' 32,50I,422 hands of receivers for tbe purpos,.. of closing up their affairs, New .r er,,ey. . . .. 12,'! 08,200 6,734,150 28,il0,592 19, ~4:'>,:n 7 lndiana . .... . 12.189,500 leaving the total number in existence 2,727 on November 1, Mmnesota . ... . .. . 11,390,1 100 1,8-:j4,576 2",076,758 19,651,296 1885, which is the largest number that has been m operation at l\1ame ........... . 10,3ti0,0u0 7,6·i::J,079 16,577,506 10.09:j,495 Miclugan . ... .. .. . 10, l 1-< 4,600 3,479,715 21,321,908 18,575,061 any Pne time. ..... .. . .. .. . 10, •55,000 3,~13,8 :'18 21,0:20,3H0 17,053,775 '£he corporate t>Xisten re of 864 natiirnal banks expired during [owa 9,648,900 Kent .cky . ...... . 5.714,770 11,77• ,265 8.233,9:U tbt yt"ar endio~ Novemb . . r 1, 1885, of which 801 have been ex- Vermont ........ . 7,541,0U0 5,154,308 5,35 ,91 -1 10,543,013 6,8-0,000 1,730,25 9,183,872 13,087,251 tended under the act of July 12, 1~82. Four national banks, rexas ... ....... . 6,105,000 5,149,0t5 8,333,6 7 5.-12n,196 Hampshil'e with an aggregate capital of $600,000, have failed and been New 1,7,4,3 :{0 15,217,754 lt,:n6,707 5 .949,250 Nebraska placed in the hands of receivers dating the year. 2.114,010 ll,4.68,980 Tennes~ee . ...... . 5.007.500 7,783,995  _______ ______________  COJ\IPARATIVE STATEMENT  OF THE NATh>NAL nANKS YEARS.  Kan~as ........ . .  .FOR SEVEN Wisconsin ... .  The following table exhibit::1 th., rt3sources and liabil~ th~ .uational banks for seven years, at neal'ly corr.,sponding dates, from 1879 to 1885, inclusive:  Virginia . ....... . Missouri .. ..... . Marylaud . ....... . Georgia ......... . EXTENSION OF THE  4,995,720 3,785,0 0 3,576,300 3,311,000 2,716,700 2 47.1 ;j,15 CORP◊RATE  1,4:{ 5,7l•5 1.517,078 2,007,500 1,251.618 2,14~.702 1,570 900  10,61 0.~H'i4 9,570,727 9,4'.!0,8;-31 7,.!17,6 ➔5  f>,6!l5,512  5 282 217  10.089 967 10,U2,396 8,376,663 5,972.242 5,74-4,199 3 335,35_2  EXISTENCE OF NATIONAL BANKS  The wh >le number of banks organized under the act of June 3, 1864, to the date of the act of July 12, 1882, was 2,266, of which 450 had been closed, leaving 1,816 in operation on that date. The following table gives the number of these banks, 1 2,045 2,0!10 I 2.13~ I 2,2ti9 2,501 ,664. 2,714 the original periods of succession of which will terminate Banks. Banks. Banks. Bauks. Banks. Banks. Banks. during Pach year from 1886 to 1899 inelusive, with their capiLal RESOUrtCES. \ Jf.ill'ns .11.itl'·ns Mill'ns Mill"ns Jfi ll'ns Mill'ns lfill'ns and circulation : Loaus . .•. ... . .. 878·5 1,011·0 1,173·8 l,:l43·:l l,30J·2 l,~ ,1 5-3 l,30o·l Number Circulation. Capital. Bonds for circuI of bankti.  l  I  1 Ort. 2, Oct. 1, Oct. 1, Oct. 3, Oct.. 2, Sep."~0, Oct. 1, 1879. 181:!0. 181:ll, I 8!:l2. 1883. J l ~Hl. l885.  1  I·  --- --------1-----  lati.i u ......... , 357·3 3i>7•8 363·3 3.'17·6 351 · l 327·-1 307·7 OtherU.8.bdH. 71·2 43·6 , 51.,•,j 3 i ·4 30·7 ;; o •-t 31·8 188 ' ··••·. .. . ..... .. ..... ... ........ 18 $3,135,()00 $1.'348,250 Stocks, 1.J'ds &c. 3}1·7 48·9 6 L·9 66·2 7 J ·t 71·4 'i7•'f> 1~87.. ... .•. ..•. . ... . .•. . .•. . ... . . . .. 925,00 I 5 95 .. ,000 Dudrom bani.s 167·3 213• ;; I 230·~ 198·9 203·fl 194·2 2cl5·3 1888. . •. . . . . . . . . . . . . . . . . . . •. . •• . . . • . . 7,fl, , 00 11 ) ,250,000 R eal estate 47 8 4.t<·0 47 ·3 46· ;) 4.8·3 49•9 5 • ·3 1889 .....••.............. ·····•· ..... 450,000 3 600,000 S ,,ecie.......... 4 ·L·2 109 3 1 H·3 102·9 107·8 128·6 174·9 I j90......... .•...... ............ ... 6,41 ,. ,950 63 9.290,500 L t>,g'I t e ud.nOtt'S 69·2 ;i6•0 1 ~3·2 o3·2 70·7 77·0 6!-l·7 1891............ . ............. • . . . .. . 9,120.880 104 13, l!J3,9 I Nat.bankno ·e .I lti•7 18·2 17·7 20·7 22·7 23·3 231 1~92 . ............... . ................ 8.3(10,870 103 12,8: 9.tl0o ('. H.excbau:,rns · 113·u 121·11 ltil:r2 20:3·4 96·4 o6 ·3 . 81·9 1 ► 93............ .............•••..... 3,819,400 39 4,740,0(·1 ( U. S ctm ificates f>, ... lll,150 18-+ t............ . .............•...•. . 67 7,63~,• 0( of deposit .. 26·8 7·7 6 ·7 10·0 14·2 18·8 1895. .•. . .. . . . . . ... .••.. ... ...... .. . 7,650 000 81 10,66n,o, o Due from U. S. I 1,525 500 .... ___ - --··--·-------··---·--·· 2!-ll 1,968.oo, , l'reasurer..... 17·0, 17· I J 7·3 17· 16·6 17·71 14·9 1896 2 11•6 ooo ................................ · 1 28 2,969,000 Other resources 22· l 23 ·0 26·2 23·9 28·l:} 33·8 36·9 11!97 ·2'.208'.600 189 ➔••••••••. .• • • ••• . .•. • ••• •••• ••••. 27 2,64(},000 3,811,900 1 U 4,820,00( Totals ..... 1,b68·8 2, 105·3 1~ ~~ ~ 2,~79·5 ~ 1899. ••. .•• . .. .. . . . .. . .. . . •. . . •. . ... • ---·· Total . . . .. . . . .. . . . . . . .. .•. . . 613 $i6,748,000 $"i4,754,fl00 LlABILITlES. Capital stol.lk... 454: l -157·d 4 63·8 483·1 509·7 524·3 527·5 On November 1, 1885, 885 banks organized under the act of SurplUR fund.. 1 J 4•8 1:20·5 128 •) 132·0 14~·0 147·0 146·6 Uu1livid'd p'titS 4L·3 -lti•L 5o·-1 6L·2 6 L· ., 63•2 59·4 June 3, 1864. had bt1en extended, making, wit,h the 314 extenCirculation . ... . ! 313·H 317·3 320· ·~ 315·0 310 ·5 28 9 ·8 269·0 sions of banki; organized under the act of February 25, 1863, Duetoo.ep'sit'rs 7.36 9 a87·~ 1,033·1 t.t34·9 l. 11 63·n 993·0 1.110·1 1,199 asiwciations the corporate existence of which bas bet-n lJ11etoha11ks - I 20l:.1 267·9 .!H4·!l 2'i!-I·~ 27o·4 IU6·4 299 ·5 Other liabilities o·7 ·8·5 1 11·9 1 13·7 14:.J 15·8 10·8 Pxtended under the !lCt of July 12, 1882. During- the year f>nding Nov. 1, 1885. the perio,d~ of succession of 8ti4 ban -. s organized 1 TotalR . ... .. 1,868·8 2,105•q l2,35 ·4 '2,3!H.1• ~ 2,:-i72·7 2,'l7!i•fi 2,432·9  ····I   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  ··1  S· ,  1--- ------,--- --- ------  ---  under the act of June 3, 1864, terminated.  __ ,_____  Of these, 801 have  D  BANKING AND FINANCL.4L. already extended their corporate existence, 5 were placed in voluntary liquidation by the vote of stockholders owning two-thirds of their stock, 15 were permitted by their stockholders to close at the end of their periods of succession, 4 werc:l placed in the hands of "eceivers, and 39 were sur-ceeded by othljr associations witb. different nam ➔s but with the same shareholdera, wholly or in part. From November 1 to December 3l, 1885, 14 banks will expire, all of wh ch have applied in due form for exten!'ion. In ant,icipa.tion of the difficulty which might arise after February 25, 1886, fr, m the apparent conflict of law referred to, and from the large d ·posit of bwful money, which, if not made before,'would, by the law, be required to be made within thirty days following that date, the Comptroller, early in the present year, began to adYise national banks which would bt, required by section 6 to make deposits of lawful money on or betore March 25, 1886, in order to prevent, if possible, any disturbance, to make such deposits in advance, in sums of $10,000 or multiples thereof, extending them over a period of some months. These banks were also advised to order in advance the preparation of notes of new design, that they migbt be in readiness to be issued to replace the circulation reti•·ed by the deposit of lawful money under section 6. Early in August a pri.l.ted circular letter embodying thi,. advi,ie was sent to all the national banks interested. Many of the banks so addr ... sRi:>d htve responded, and it is believed that th"' action of this dffi.c:e bas had an excellent effect, and that the amount of lawful money to be deposited within thirty days after February 25, 1886, will b'"' much less than if this action had not been taken. If the only object of section 6 is to enable the United States to gain the benefit from lost or destroyed notes, this object might have been accomplished by simple enactment t-1 this effect, without the expense of the issuance of new notes and the deposit of lawful money.  REDEMPTION.  Since the passage of the act of Jun~ 20, 1874, section. 3 of which requires the ba.nks at all times to keep on deposit in the Treasury 5 per cent of their circulation as a redemption fnnd, that fond, as a rule, has been maintained, and circulating notes of the banks have been prompt! v redeemed at the Treasury without expense to the Government. From th~ passage of the act of June 20, 1874. to November 1, 1885, there waR received at the redemption agency of the Treasury $1,594,365.738 of national bank currency for redemption. During the year the receipts amounted to $14'>,880,327, of which amount $66,974,000, or nearl.v 46 per cent, was received from the ba.nks in the city of New York, and .$29.762,000, or upwardR of 20 per cent, from the banks in the city of Boston. Th~ amount received from Philadelphia was $7,446,000, from Chicago $3,943,000, from Cincinnati $2 .154,000, from st. Louis $1,668,000. from Biltimore $3,797,000, from Providence $2,470,000, from New Orleans $2,514,000 and from Pittsburg $576,000.  CIRCULATION.  Notwithstanding the fact that 145 new banks were organized during the past year, with a capital of $16,938,000, depositing $4,959,300 of bonds as security for circulating notes, the aggregate of bonds on depo~it for that purpoie has diminh1hed from $325,316,300 to $308,364,550. The following tablt:1 gives the various kinds and amount.<1 of bonds deposited by the banks to secure their circulating notes on November 1, 1883. Nove:nber 1, 1884. and November 1, 1885  j- ~::::ooo  Three•and•a•halfs ........ Threes ... ... . .. ..... .. . 201,327,750 l!'our•and•ar-halfs. ...•..•. 41,319.700 Pacific sixes .....•...... · 1 :~,463,000 Four<1.............. .... ...  $  .~~~>~ $  106,164,850  155,604,400 49,53i,450 3,4t:i9,000 116,705,450  $352,907,300  $325,316,300  .~~~~~--··  138,920,650 49,547,,50 3,505,000 116,391,650  ---·-$308,36-t,550  By reference to this table it will be seen that the aggregate reduction of bonds deposited for the year ending November 1, 1885, was $16,951,750. 'rhc changes were as foilows: An increase of $36,000 in Pacific currency sixes and of $9,800 in the amount of four-and-a-half per cents deposited, a reduction of $3rn.soo in the amount of four per cents held and a reduction of $16,683,750 in the amount of three per cent:i held, payable at the option of tbe Government. Of the three per cents $9,586,200 had been called for payment, and interest had ceased TAXAT[ON. on N ovt:1mber 1, 1884. The only Uoited States tax now paid by the national banks The following tables show the decrease of national bank circulation during the years ending November 1, 1883, N ovemoer is the semi-annual duty of one-half of 1 per cent 11pc;n the I, 1884, and ~ovember 1, 1885, and the amount 1Jf lawful money average amount of their notes in circulation during the preceding six months. on deposit at each of the dates named : The Comptroller in his last annu 1,l report suggested that, inNational banknotes outstanding November 1, 1882, including notes of national gold asmuch a~ the constant contraction of the volume of the nabanks .................•...••...•...•• . ..... $362,727,747 tional ba .k currency was due in great, ·measure liO the fact that Less lawful money on deposit at same date, including deposits of gold banks..... . ... 38,423,404-$324,30!,343 under present condit.ions ba 1ks C!tn ma.ke but a nominal profit N ,tioual bank notes outst<1in 1ing Nov. 1, rom the issue of circulation, a ready and simple way to pre1883 ...................................... 352,013,787 vent a further diminut on of the volume of national bl.nk Less lawful money on depo"it Nov. 1, 1883 35,993,461 316,020,326 notes w ,uld be to abolish this tax. The totai taxes collected from the national baokr-i to the end Net decrease of circulation ..•...•..•.•.• . ·····-········· of t.he present fiscal year are Hhown in the following table: National bank notes outstanding Nov. 1. 1  1883, including notes of national gold banks . ...... . ..... . .... . ....... . ... . ..... $352,013,,87 Le,;s lawful money on deposit at same date. includin~ depusits of uatiunal gold bauks 35,9 J3,461-$316,020,326 National bank: notes outstanding Nov. 1, 188.J, including notes of national gol<l banks 333,559,813 Less lawfui",iioiiey·o:u·dei>osit·ats'a,iie date; including deposits of na tional g()ld banks 41, 710,163- 291,849,650  Net decrease of circu!ation........ ..•.....••..• ..•• ••• $24,170,676 National bank notes outstanding Nov. 1, 1884, inclu ling notes or national gold banks........ . ... . . . ..••..•......... . ..... $333,559,813 Less lawful money on deposit at same date, includingdepo<1its of natioual 1;old banks 41, 710,163-$291,849,650 National b ,mk notes outstandin~ Nov. 1, 18~5. including notes of national gold banks ....... . .............. ........ . ..... 315,847,168 Le8s lawful lllllll0Y on liepvsit at same date, including notes or national gold oauk,L. 39,512,979- 276,304,189 Net d-•orease of circulation .•....• ..••...••.•••..••..•• . $15,545,461  It will be seen that the banks held on November 1, 188!, $-:.55,604,400, and on November 1, 1885, $13,,920,650, of thrc,e per cents under the at1t of July 12, 1882, payable at the pleas-  Yea,s.  !Onclroulat'n On de1losits. On capital.  1864_... . . . . . . . .  1 8ti5.... ... ..... 866......... ... l 867 . . . . .. . . .. . . .  ti:!69 ........  ·-·. 1 869 ······· . ... 1870 .. ... . ... . ... 1 871........ . . ... 1872 ····-········ 1 -!7J. ... . . .. . . . .. 1 874 .. .. ... ..... 1 875 • •. . .• . . . .• . 1876.. •. . • . . • •. . l 877.... . .... ... . l 878..... .... ..•. 1 879 .•••. ······•· 1 ~80.... ...• . ..•. 1 8-3 L. ••• • ••• • ••• 1 832 . • • . . •• •. • • 883.... . ... . . . . . 884. . .. . ... ..... 1 885 . ....... . ·•• ·  f  $ ,'13, t93 733,M7 2,106,7::!5 ~,868,636 2,9-16,343 2,957,416 2,9!9,741 2,9S7,021 3,193,570 3,353,186 3,404,4,;3 3,283,450 3,091,795 2,900,957 2,9!8,047 3,009,647 3,153,635 3,121.374 3, I 90,981 3,132,00 t:i 3,0l4,668 2,79!,584  Aggregates .. ~tH,201, ~77  $95,9ll 1,0--7,530 2,633,102 2,650;180 2,564,14::J 2,fll4,5 :'i 3 2,614,767 2,802,840 3,120,984 3,Hl6,569 3,209,967 3,514,2ti5 3,505.129 3,451,9135 3,273,111 3,309,668 4,058,7LO 4,H40,945 n,521,927 *2,773.71:10 . - -- ... - -.. --.  - .  ........ -- .... --..  $1.i,432 133,2-H 406,H47 321,881 306,781 312,918 375,962 385,2H2 389,356 454,891 469,048 507,417 632,296 660,784 560,296 401,920 379,424 431.233 437,774 *269,976  .. ··-····- ----  Total. $167,537 1,954,029 5,146,835 5,840,698 5,817,268 5,88-1,q9s 5,940,474 6,175,lf,4 6,703,910 7,004,646 7,083,498 7,305,134 7,2:29,221 7,013,707 6,781,455 6,721,236 7,591,770 8,493,552 9,150,684 6,175,773 3,024,668 2,794,584  ·---·--------- ---------$60,l-}40,067 $7.855,Q87 $130,000,732  ure of the Government. The Secretary of the Treasury, during * Six months to June 1, 1883. the year ending November 1, 18~3. paid $105,634,150, and during NATIONAL BANK FAILURE. the year ending November 1, 1884, $l05,970,450, of the public dt>bt. In tha latter year three per cents only were called. No The total number of national ban ks placed in the hands of bouds were called fur the year ending ~ov. 1, 1885. receivers to Nov. 1, 1885, has be~n 104, of which 4 became in2   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  BANKJNG AND· FIN.AN(JfAL. solvent and were placed in this ct:tte~ory since NC\v. 1,.1884. A fuil Jiet of these banks will be found in the- appendix, with tlre amount of <'apita:I, claims proved, and dividf>nds paid. The four which have failed during· the past year are as fotlows :Name of Bank,  . · 1 Reeeiver apCapital. pointed".  Middletown .National Bank of Middletown,N.Y: lj,'200,.00'0lNov.- 2!-l, 1RP4 Fa1·mel's' National Bank of- Bushnell. Ill . . . . . . . 50,000 Del', 17, 1884 tl•; hobar1e <..:ountyNat. Banliof Schoharie. N.Y. f>0,000 Mar. 23, 181:<5 E.xcbange Natioual- Ba11.k ot N1 rfoik, Va.•.... . 300,0():1 Apr .. 9, 1885  The affairs of seYen banis have been tlna-lly- closed', and a; final dividend has been made to their erfditors duri:ng the year. LOANS AND RA'rES O.F IN'l'EREST'.  'l'Jie folfowing table gives the claRsification of the Joans of the banks in the city of New York, in Boston,. Philadelphia and Baltimore, ln the other resel've ci-ties, and in t.he 1'1:<maining banks of the coent:ry at corresponding dates in each of the last three years:-  1875, call !ban~. 3'·0 per cent: commercia.l paper, 5--~ per-cent. l!-176, ca11 loans, 3·:1 pf'rcent; commer01al paper, n·3 per cent. 1877, eall l-0an,s, 3·0 per cent; eommercial paper, 5·2 pn cent. 1878, call loa11s, 4 4 µer cent .; commercial paper, 5·1 pn cent. 187!=1, ca;ll loans, 4·4 pn·cent; commercial paper, 4·? per cent. 1880, call'loans, 4 ·!=l per·eent; commercial paper, 5·3 per cent. 1881, call leans, 3:·8 11er cent;. commercial paper, 5·0 per cent. 1882, 0a31 loans 4·4 1,er cent; commercial paper, 5·4 per cent. 1883, call loans. 5·7 1wr cent; commercial paper, 5·'7 per cent. 1884, call loans, 2·4 per cent; c&mmercial paper,, 5·6 per cent. 1885, call loans, 2'3 peT cent; c01.nmercial pape·r , 5·5 per cent.•  The average- rate of discount of the Bank of England for thssame years was as follows:· Dnri;ng the caiendar year ending Decembe-r 31r 1875, 3·- z3 per cent. During 1ihe calendar year endhrir December 3I. 1~76, 2'·6t per cent.· Duriog the calendar year ending December 31, 1877; 2·9 L per cent~ J>urin~ the carenda.r yea.rending Decembn a I, 1878, 8·78 per centr During the calendar yea1· ending necember 31,.1879, 2'·50 per cent. During the calendar yea;r ending December 3l, ltjf!O,. 2·76 per cent.. Dllrin:r the calPndar year ending D ecember 31, 1881, :1•4~ pel' cent.t Dming the e.Jlendar yea1· C'nding l>ectmber 31,. 18R2,.4·10 per cent.t Dmiug the calenclai· year endin/;{ December 31, 18&3, 3·57 pi-r cent.~ Dlll'in,g the carendar year ending DecembPr 31, 188~, 3· 18 per cent.~ F?1 ,m December 31, 1884, to September 30; 1885, 2' per cem.§. • F:rom the FINANCl4.L CHRONICLE. Maximum rate~ t From the FINANCIAL CHRONICLE O'Illy .. t Fr&m the London Bank'ers' Magazine. §' From the Loll.don Economist. DIVIDENDS A.ND EA.RNINGB'.  'fhe large number of mereantile failures which has occurrecl during lh84 and 1885 has not apparently injured or weakt>Md the natiollal bankR,. t.he aga+-'gate surplm funds and undivided profits taving bten but 8lightly redu~ed. 'rhe aggregate surplus of 2,664 banks on &>ptt'mber 30, 1884, amounted to. $147,055,038, and the undivided profits to ,S63.2".J4,2~. At the close of 'b11siness October 1, 1885, the agg-regate surplu-1 fond of 2.714 bank8 amnunt..,d to .$146.6Z1,642', aed th~ undividt->d profits to $59,335,519, showing a decrease io surplu& of $430,396, and io undivided profits of $3,89-8,719. The following table shows t• e losseR of national banks from September 1, 1880, to 81,ptember l, 1885', and the ratio of lossesto the aggregate eapit~l employed : Ga pit al.  8emi•annnal dividend periads.  ------------~-Sept. 1, 1880, to Ma:rch 1, 1881 !j¾'l6,~44,865  March l, 1881, to Sept. I, 1&·1 Sept. l, 1~81, to M,.. rch 1, 1882 March l, h82. to Sept. 1, 1~82 Erept. 1, t88~, to March l, 1883 March l, 1883, to Sept. 1, 1883 S1•pt. 1, 1883, to MarC'h 1, 1884 i\1 lll'Ch l, 1884, to Sept. 1, 1 884 Sept. 1. 1~84, to March 1, 18F5 Maich 1, 1885, to Se1•t. 1, 1885  Losses,  ~o. of  Ratio. bauk'"r  $:>/' 07,297 l'.LO 5,462,713 !. · 19 458,934,485 ::J,886,1336 , 0·84 460,354,4~5 4,4l'l,57., 0·9 l 473,947,715 4, .{40,865 01)6 483~091,342 6,146,294 I ·24 494,6t0,140 5,MM,691 1·10 507,969,3'00 51~,fi0,°1,725 11,!-l77,L93 · 2·19 522,8l:)9,715 9,.973,1111 1·111 · ;,24,59~,6v2 8r739,.420 1 ·67  2.087 2,10') 2.137 2,197 2,207 2,359 2,491 2,:'>~Z' ~.650 2,665'  The following table:-1 have been compiled in order tha~ compa,ison~ may bl-l made b tw1-1 ... n the annual divid.-n ls paid by the national banks of the United States and th0se paid oy banks in foreign countries to their stockholder8, and indicate that the al'erage dividends and earniog8 of the national banks in the Unit.-d Statt>S are as a. rnle lt·ss than the dividt>nds of joint stock banks of other countries. 'l'he information in rega.rd to the foreign bank ➔ ba.s b~eo dt->rived from the London Bankerfl' Magazine for October, 1885, and i8 to the late&t obtainab-le date. The principal bank io each conntry is givf'n t1eparately, and the divid ... nds paid by othn banks in the same country are averaged. Similar state. ments of the national banks of thi-, Unit@d *atH!i are hf geographical divisious, the reserve cities in each being given separately. and the dividends paid by aH other b'anks in the sam& division are averaged. FOREIGN B .~:&S.  Nn.mb'r of Establishm'ts  Bank. Great  In previous 1 eports tbP attt>ntion of Congress ba..'I bet>n ea.lied to the provisions of section 5,200 of the Rf>vised Statute~,. which places restrictinns upon loans, and to the difficulty of enforcing the same. In cities where large amounts of produce are r~ceived and stored. it is claimt>d to be impossible for the banks to transact this class of business S'> Jong as they are restricted to Joans to an amount not Pxceeding in any case one.tenth of their capita]. While it is true that the limitation prei,cdbed dOt!s 1,ot apply to loans upon produc... in transit where the drafrs are drawn on existing va]ueH, yet if the produce is stored im,tead of being shipped, loans in excess of the ooe-tenth limit cannot be made except in violation of Jaw. In ~u<'h a ca!-le t.he Com pt-roller hai, no means of enforcing the law exeept by bringing Muit for forfeitnre of charter, which might result in great embarraH!-1• ment to business, as weH as loss to innocent stockholders. It seems evident that the law should be so amended as to permit le~itimate loans upon United States bonds, produee or warehouse receipt.8, and some other classes of collateral security. RA.TES OF IN'l'EREST IY NEW YORK CITY. AND OF THE BANK OP' ENGLAND AND THE BANK OF FRANCE.  The average rate of interest in New York City for tach of the fiscal years from 1875 to 1885, as ascertain..,d from data dnived from t.he Journal of Comme-rce and the CoMMERCIAL & FINAN• OIAL CHRONICLE, was as follows :   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  16 25 16 14 7 9 10  Paid Up Capital.  Bnlain.  Bank of En~lan1. . .. . .... . -··· . $70,727,580 London and partly provincial banas 75,096,763 Yor);.shire anil Northern ······-···· 27.3t5,76-3 3u,'.-n4,936 Lancashire aJl(l Cheshire .......... . Midlaud auil Eastern .............. . 1P,6-67,'l60· 9,384.324 Welsh :u1d West of .England ..... . . . Kank of 81"otland.... . . . . .....•.... . ",075,000 Scotch banks . . . . . . . . .•..••.......... 37,917,720 Bank of Irelan-1 ..•........•......... . J 8,458,457 17,933,'!00 Irish b1mks . ... . ... .. . . ...•..••..  r•otoriial Banks.  67,173,(39 Australasian ...........,.. ....... . Canadian ..............•....•......... 47,332,316 Eastern ........................ .. 3ti,:i52,472 6 .561,000 South African ..•..••..••..........••. 2,\H6,000 West Indies ...................... . Banlcs of other ()01,ntrit-B. 5,fi03,5SO 3 A.nglo•Continental banks ........ . .. . 2 Russian banks ...................... . 20,988,009 Amtr.. -Hung-arian . ... . ............. . 35,370,010 32,619,000 3 Austro-Hung-arinn banks . ....••... : 9,6:10,000 Banque Nationale ·············-····· 3 Belgian banks .. . ...•.............. . . 10,562,066 35,222,500 .Banque de France ..•............ B Freuch ball ks . . . . . . . . . . . . . . ..... . 114,352,500 ·OPuts,,he Reichs banks . .....•....... 28.560,000 52,407,600 6 Ger-man banks ........... . Banq , e Nazionale d' It .. lia ........ . !-l8,600,000 3 rtalian banks ..•...................... 15,440,000 8,20•],500 6 Swisq b1inks .........•..•........•... R,860.000 1 Spanil'lh bank ......•............. . .... [mpe1ial Ottoman . .•..••........... . 24,oOO,OOO 6 Tlll'kish Lanka . ........... . .......... . 18,715,512  24 15 9 2 1  • Lnn·ton B111kl rs· J1ag1.,zi11c, An,irn ~t, 18 5, p. GOS.  Rate Per Ct .. Per Annum or Dividend on Capital, 9¾' 14'5 11 9 10' 12¼1 138 (1  14 14.  1 11(, 12 10 12:lg 711,0 1' 8 10 10 10  BA_NKINf'l AND FINANCIAL.  1i~teru,~u<;!· J -  N.A.:rIOSAL BANKS lS THIJ: UNITED Sl.'ATES.  Bank_  Paid Up _ Capital.  City of Boston ........••..••....•..•••.•••..•. New England States . •. ••. . •• . . . • . .•. ••. . . <Jityof New York ..• ...•.....• .•••..•...•.. •• . «Jity of AlbaRV ··-- ····-·- ·· · - ··••·••• ··•· .... · <Jity of Pltiladelphia .••. ..•... •. . .••..•• .••. .. Cttyof Pittsbarg ........•••. ···- -··· .•...•. <JitY. or Baltimore ....•••.....•...•......... <Jit_v of Was 11in ~ton . .•. . •••.••• ..•...•..... Miudte States .. . .•. . . .• . .•. . .•. . .•• . . •• . . • . . . <Jitv of New Orleans .... City of L ,nisv,Ue .•...••..••.•• . ..•. • H • . •• • . Soutltern Slates . ... <Jity of Cincinuati . ..... •. . ••• . . . . . . • . . . . . . . . . . <.;ity of CTevela.ud . •• . •• . . ••. . . .•. . •.• .•. . . • . City of Chicago . • . . • • . . • •• . • • • . ••• . • •• . . . • . Cityol Detl't,it ... . ...... ..•...•. ..••. .•. . ... <Jit_v of Milwaukee •. .••• . .•. .•. . .•• . .. . .••. City of St. Louis . •• . .. . . .•• . .•• . . •• . . .•. . . .. . . Western States ............ . .. . .•. .••.. ....... Cit_v of San Fr.1n.ciseo... .. . . •• . . .. . . . . . .•• . . . . Pacltic State I and Territories.... . . • . . . . . . . • .  I  lof Di vidt11d on Capital.  $50,950,000 115,584,370 46,250,000 ' 1,775,00n 18,058,000 10,179.,600 " ·11 .713,260 1,125,00o 83,958.,1388 3,525,000 3,551.500 $33,997,850 8,ti00,000 5,9.s2.,050 11,-150,000 2,6~0.000 650,000 3,250,000 9a,518, l-lO i 1,500,000 . 11,831,000 ·  5·5 7·1 8"8 9·5 9·1  7•4 7·-l 6·8 7·7 i'·9 6·8 8·1  6·4 5 9·2 9-3 11 ·4 6·3 8·8 8 9·4  Through the courtesy of State officers the Comptroller has obtained official reports made to them under State laws b .v State banks in twenty• elx Stat,et, by-trust eomp ➔ nies in five Star.eR, and l.>y savings banks in fifteen States, at different dates during the years 1--84 and 16 ~5, and ft'om these return.a the following taM.e bas been compile l: Held by 975 State banks in twdnty•six States............... $2,994,806 ; Held by 40 trust 001npa:nies in. five Statss .......... . • •• .••• ..... 2-1,3 ;6,4 ,o t.lc'I.J. by 616 savings IJaRks in. fl.t'te :lD. States .... ............. 191,980.69~ Total.·-· .•••. ·····--··-·-·-·· ••.. ...••. ····-··.··-····· .•••. . $220.,351,901 :STATE BA.NKS, TR-UST COXPANCES  United States Issn.es. Notes of ' -----------,-------,]-------- Nat. Banks A t al Old DI · din ggrega e. J::der d - Fractional G~tt~liotet Notes. Curreney.  :::-i~s.  ----------1------- - - - - ------  DENOMIN A.TIONS OF PAPER CIRCULATION OF THE UNITED STATES,  In ace ,rdance witlt the law, no national bank notes or 3, less denominat ion than tlve dollars have been issued s ince January 1, 1879, when tbe amount outstanding was $7.718,747. Since that date the amount of ones artd two~ issued by the bankR ha~ been re<lueed $7,283,033, lcavin~ the amount outstanding on November 1, 188,3, $ 13.5, 714, and durin~ the same pedod the le~al teader nntes flf tne,e rtenomtnations have oeen increased $\645,96J. The total decrease of the amo1mt of ones aud twos ouci:;tanding in nation 11 l.>ank an:l legal tender notes is $1.637,073. Tile following table exhibits by denominations the amnunt of nationa1 bank and l11gal tender notes o :1tslian,ting on Octobet· 31, 1885, and the !'!ir!~~\e: amounts of both kinds of notes at tue same periods m 1883  ---------------- ---------·- -$- - - - -$ $ $  4'15,714 22,703,459 23,l::J9, t 73 27, 0 58,839 237,284 23, './35, I 36 23,472.420 27,061,206 Twoa .............. . .F'ives ..••.... .•• .... 81,9i'i6,670 84,068,279 166,024,949 163,303,205 Tens ..•...•..•.•.... 104,211,290 71,003,390 175,214.61"0 1~0,491,880 Twenties ..•...•.... 75,087,520 56,041.267 137,028.787 135,277.089 Fifties .. .. ...... ... . 20,638,5511 22,896,595 43,535,145 44,617,045 One hm:.tlreds ... •• . 31,='>i6,400 29,645,390 61,221,790 66,170,690 59d,5011 15,152,000 15,7110,fiOO Hl,063,f>OO Five buodreds . •... Hl,000 21,l:Jl0,500 2:.:!,041,500 19,659,501 One thousands ...•• 95,000 95,000 105,000 Ftve thou... ands.. ••. . .•...•..••. 30,000 ::J0,000 60,000 Ones .••..••....•....  l~d ~:~i:is!Ja;~~~em;dl ........... . tx;!'l1rm:g::;;o.r_ ~~t~ Deduct for le~.-tim. notes destroyed in in Chicago fl.re....  +21,890  +21,890  +20,749  . .....•.••. -1,000,000 -1,000,000 -1.000,000  Total .............. "'314,894,818 346,631,016 661.575,834 679,154,709 * Exclusive of $,'>68.0~1 due t.o banks for mutil-ited notes destroyed and to be replaced by new notes an<l uf $384, !69 noteil of gold banks. The amount of one and two dollar national bank notes outs~anding Is a little wore than o .e fifth of 1 per oE\nt ot the whole circulaHon or the   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  urn  SAVINGS BANKS.  Tb-e act of Congress of February 19, 1873, section 333 or the United States Revised tit ttutes, requires the Comptl'Oller to obt,ain from au• thentic ~our es, au.d repo,rt to Congress. statements ex:hibitin.g unier appropriate beads the resoureesand liabilitie~ of such uanks an l flavin.(s banks a;, are oiganized nndet· tbel ~ws of the several State,, and Terri• tories. In coml)liance with this act be has pre,ented annually in the 1wpeadices to his reports tlle res•mrces a.11.d ltab \lities of the,;eoorporations, so tar a.sit has been possil.>le to obtain tbetn Through the c our• tcsl' of State officers, returns of State b.1nks, savings bauks aRd tru~t a.nd loan companies h ,tve u.nrin'-!' the pa t year been received from twenty-tive State•. Many of tlte States and Tet·ritories, inclndi11g West Vir,ginia. North Carolina. Alabama, Arkansas, Tennessee, IUinoiR, Ore• gon aULl Da.kota, dJ not require periodiea,l reti1rns of the condition. of the different c1asc:;es of banks organized under their laws. From these returns the following- ab.straot has been eompiled, showing the resources and liabllities of State ban1<s a•Jd trust con1panies for the last four years, the number reporting iR 1882 being 70-l; in t883, 788; In 1884, 852; aud ia 18::s5, 1,015.  STATES AND NATIONAL BANK NOTES, In the followin~ tabfo are given the amounts anti kinds of th~ outsta:n-iiD.g c11.rrenev of the United Sta.te,i., audor the national ba.nks -on Januat·y 1. of ~ach year, from 1866 to 1885, and Oll November l, 1885, to which is prefixed the amotuti Oli August 31, 1865, when the public debt reacbed its maximum.  $ $ $ . $ $ Aug. 31, '65 4-;J2,M3,912 402,965 26,~44,742 176,213,955 635,515,574 ,fan. t, 1866 425,839,319 392,670 26,000,420 236,636.098 688,867.907 Jan.1, 1867 380,276,160 221.632 28,732,812 298,588,419 707,819,023 Jan. 1, 1868 356,000.000 159,127 31,597,583 299,846,206 687,602.916 Jan. 1, 1869 356,000,000 128,098 34,215,715 299.747,569 690,091,382 Jan. 1, 1870 356,000,000 113,098 39,762,664 299,629,322 695.505,084 Jan, 1, 1871356,UOO,OOO 101,086 39,995 .089 306,307,672 702,403,847 Jan, 1, 1872 357,500.000 92,801 40,767,877 328.465,431 726,826,109 Jan.1, 1873 358,557,907 84.387 45,722,061 344.582.812 748 .947,167 Jan.1, 1874 378.401.702 79,637 48,544 792 3-50,848,236 777,874,367 Jan. 1, 1875 382,000,000 72,317 46,390.598 354,128 .250 782,591,165 .J-an.1, 1876 371,827,220 69,642 44,147,072 346,479,756 762,523,690 Jan. 1, 1877 ::J66,055 ,084 65,462 26,348,206 321.595.606 714,064.358 J,a n. 1, 1878 349,943,776 63,532 17,764,109 321 672,505 6-.9,443,922 Jan. 1, 1879 346,681,(H6 62,035 16.108 .159 323,791,674 686,642,884 Jan. 1, 1880 346.681.016 61.350 15,674,304 342,387,336 704,804,006 Jan. 1, 1881 346 681,016 60.745 15,523,464 344.355,203 706 620,428 Jan, 1, 1882 346,681,016 59,920 15,451,861 362,421.988 724.614,785 Jan. 1, 1883,346,681,016 59,295 15,398,008 361,882.791 724,021 110 Jan. 1, 1884 346.68UH6 58 680 15,365,3621 349,949,352 712 .054,410 Jan. L, 1885 346 681,016j 58.2!0 15.3 ~7.'l.77 329,158,6.!3 691,245156 Nov.I, 1885 ::346,681,016 57,~25 15,337,096 *315,847.168 677.923,105 * rncludes $3~4,269 notes of gold banks, and $568,08 l mutilated currency in. transit. The act of June 20, 187-t. provided tha.t any national banking a.ssooia,. tion might witbdraw its circula ini n'ltes upon the deposit of lawful money with the Treasurer of the Unilit'd States in su ,n~ of not less th.an $9,000. Under this act, and on account of liquidatin"' and insolve111 banks, and under the act of July 1~, 18 2, wllich provicles for a deposit of lawful money r.o retire the old ciroulation of national banks whose corporate exi~tence has been extende ·, $23:J,34 7,068 of lawful money has been deposited with tlle Treasurer. Tllis include3 $2,663,720 for the redemption of th6 uotes of nation'il gold banks and $l4,l'l.5,1320 for the redemption of national bank uoteg nnrt,,.r se tion 6 of the act of Jul_y 12, 1882. Sin .e June 20, 1874. $ ·t .,8,6L7,76t of bank notes have been redeemed, de;;troyed and retired. Thii:; incl ,t•ies :S !,l79,451 of the notes of national gold banks and $4.425,fi~5 of the noteg of national banks whose corporat.e existence ha.,; been extended under the i.ct of July 12, 1882.  baaks; the fives constitute ~6 per c t:1ut, the teng 33 per cerit, tb.e twenties 23·8 per cent and the fifties and. la.rger n Jtes abo11t l 7 per cent ot the entire circulation. Of the entire amount ot' na.tional baak and 1-e~lll tender notes out• standing, abo11t 7 per cent co11~ists of oue and two dollar uotes; nearh· 32·2 per cent of onE\s, twos and tlve;i 58·6 per cent is in notes or a less d enemination -thaa $ W and abou.t 78·6 per cent is in notes of a lo wet· denomination thau $50. Of the entire -issut:1, abot1t 21·5 per cMt is in denominations o'f fifties, -one hundl'eds, fl'9'e httadreis aud o.1e thous• ands. There are outstanding nineteen i.e~al tender n()te.~ or the den-1mina.• tton of $5,030 aud three notes of the denomination of $10,000. A..l\l(')UNT OF UNITED STA'l'ES BONDS lil1JLD Bt' BA.NKS 'ORGANIZED UNDER STA.TE LAWS.  UNITED  Date.  11  18q3.  1882.  ·  188-l.  188t-.  I  704. banlrs. 788 banks. 852 banks. 1,015 b'nks. $  RESOURCES.  Loans and discounts • 40J,574,420 1,.:fi3, 1 lo Overdrafts.-o ..... . United States bonds . 25,673,984 Other stocks, bds,&c 4;;,6::,R,7&3 Oue from banks ...•. 57,973,718 Real estate.·-· .... .. 19,!H5,682 Other assets .••..... l3,685,:l05 Expenses ........... . 1,193.3-!i'> Cash items ......... . 18,546,073 Specie .....•...••... 17,902,760 Legal tenders, bank notes, &c .••....... 27,322,912  I  $ $ $ 462,380,585 4'39,067,519 489,423.169 1,493,-.36 1,630,47~ 1.485,91'7 22,725,59'1 2>,708.780 28,371,206 52,405,724 59,331,87i 62,l$ll ,) ,059 68,270,664 65,3:i4, 146 82,521,~90 20,160,fi47 21,211,182 ::?4,632,603 u, 190:0 l4 10,513,813 14,814,765 I, 131,5861 1, 235,079 1,432,93' 35,206,962 23,308,216 21i,067,594 18,255,300 2 -'>,928,757 31,255,789 23,'259,069 32,659,605 3&,5'5 2,01 7  Totals ...•...•... G33,8l!l,9!)R 724.479,613 760,949,4-:'>7 SO I ,95Z,444. LIABILITIES.  Ca.pital Stock . .•.. ••. Circulation ..••.••... !:Surplus fund .....•. Undivided profits .. . Divid..,nds unpaid .. . Deposits .. ......•.... Due to banks .....•. Other liabilities ...•.  113,361,9'U 125,23::I,036 133.958.951 151,686,840 11-17,978 177,554 98,129 288,391 3t,fi04,352 34,575,461 41,67;').486 41.36 ,5 ,559 14,75~,438 18,076,610 2:l,337,961 20,082,736 513,177 465,011 499,017 577,419 426,677,092 500,374,217 514,111,591 532,725,289 18,409,3 ll 20.918,936 ~7,886,990 30.148,346 28,245,024 2-!,648,36-l 20,301,901 25,332,3fi8  Tota.ls .•.•........ 633,819,998 '724.,479,613 760,919,457 801,952,4-14 The tore oing table Wil.S prepared from all the New England States exeept Maine . from fom· Mid ,He States, not inclt1din~ Dchware, and from all the Western Std.tes. excepting llinois anll Ne 1>raska.. The only Southern States from which reportR have been r eceived. wel,'e Virginia, Soutll Carolina., Geor~a. Florida, L·misiana., Kentuclry and Missouri. The 011ly Paoiti<' States wn:e California a~d Col_ot·ado. Thera:, are no State banks in Maiue. but l m NP.w l-Iamp,lure, 7 m Vermont and noue in \fassaehusetts. There are, however, 6 trnst an 1 loan oompa.uiea in the latter State, l in Rhode Csfan.d a.nd 6 in Conn.eeticut. SAVINGS BANKS.  ThP. followtn~ table exhibits the a~gregate resources a.nd liabilities of the 6211 ~avings banlrs in 18~t, 630 in 1883, 636 in 1884 and 646 m 1885. 1882.  I 629 banks. RESOURCES, L'ns on r.est. L'ans on personal & col. security ...• U.S. bond~. State,m'u'_p'l &other bds. and stocks. RR. bonds & stocks . .... Bank stock.. R eal estate .. j Other assets! Ex:penses ... Due tr·m bks Cash .. .... \  1883.  188-l.  630 banks.  636 banks. $  1885.  j  6-!tl banks. $  307,089,227  $ 3:l8,197,858  358,686,0-10  1Z8,483,698 237,781$,442  155,974,522 219,017,313  196,220,202  206,291,274  190,629,915  222,218,0061 228,993,250  $  32,994,578 35,365,717 39,882,429 11,047,3461 rn2,204 38,977,135 14,932,015  41,695 .701 36,587,817 37,224,601 5:i,235,771 144.223 43,184,629 12,!}98,i'i9-1  389,953,928  Hl,4'7,1111 133,716,902  50,994,579 37,929,754 81,467,276 69,166,584 156,944 52,3.'18,97 I 14,079,452  191;980,698  59,585.489 ::S8,460,tl03 32,174,810 68,445,304 l66,636 46, 125,0 l 4. 13,4~3.064  Totals ..•• . 1,052,982.065 1,118,790,944 1,177,740,!JllJ 1,203,025,698 LIABILITIES . 966,i97,081 1,024,856,787 1,073,29'1,955 l,095,172,147 Deposits . .• 88,647,315 82,395,717 72,784,155 69,454,512 Sttrplus fund Undivided 13,106,359 16,904,753 11,136,219 ·profits . .•. 15,738,2231 6,099,877 5,145,494 'l,411,779 5,594,253 Ot-h . llabilit's Totals .... 1,052,982,065 1,118,790,94-1 1,177,740,919 1,203,025,698 The foregoing- table includes the returns from six New England States; from four ."11ddle States, n'lt including Dela.ware: from the States of Ohio, Indiana, M:mn::suta, California, aJ?.d the Dtsi1·ict of C9lumbif!,.  BANKJ.NG .AND FINANCIAL.  12  NEW YORK CITY BANK MOVEMENTS.  GREAT_ BRITAIN IN 1885.  During the year 1885 there was no unusuai interest attaching to the bank movements, as the money market was superabundantly supplied with funds, and the disasters which had threatened the banks in 1884 had become matters of history, and there was no longer any apprehensions of further weakness among the ban'k s. The most important feature was the large accumulation of money and the consequent increase in the surplus reserves, which amounted on the 1st of August to the unprecedented sum of $64,724,100. The bank .clearings in New York were very small in the first half of the year but increased remarkably in the last six months, owing mainly to the increased business at the Stock Exchange. The table below shows that the clearings in New York during 1885 were smaller than in any other year since 1878, and this is to be accounted for by the fact that the increased activity in business after July, 1885, did not equal the heavy transactions durin~ part of the'panic year 1884. The following table shows the clearings for eight years past in New York City, the clearings in other cities, and the total clearings for all cities:  [Communicated by our London Correspondent.]  It is scarcely necessary to say that 1885 has not left behind it many bright memories. We can best describe it as a year of deferred hopes. January began with a hopeful feeling prevalent, for the very low condition commercial affairs had reached in 1884, seemed naturally enough to give promil:3e of a speedy favorable reaction. The realization did not come, but in its place came first anxiety and then almost a panic eaTly in March because of the Russian advance in Central Asia; thereafter for a lonJ? time political affairs were very complicated, the public groping in the dark as it were, uncertain where the next step would lead, knowing this much at least that our relations with Russia, in connection with the Afghan frontier, were very much strained. Scarcely had this uncertainty been removed by what was claimed to be a definite arrangement of that difference, when a Cabinet crisis gave us a change of ministry and fresh anxiety not only as to that settlement, but as to the effectiveness and permanency (in view of the opposition majority) of any policy either domestic or foreign the new administration New York Total Outside Total might adopt. Events had scarcely time to prove these Year; Clearings. New York. All Cities. fears groundless, when the country began to be --- -------1---1885..... •. .. . . .. •. . . • . • •. . . • f2&,152,201,336 $12,863,565.912 $41,015,767,248 agitated anew by the preparations for, and subse1884........ . . ••.•• •• ••· ••• 80.985.871,170 12,919,136,635 43,905,007,805 by the occurrence o~ a general election, the 1883............ . •• •• . • . •• • • • 37,434,800,872 14,103,559,509 51,587,860,381 quently 1882... .. ... ... . ..... .. .•.• •. 46,916,955,031 13,794,577,518 60,711,532,549 results of which have been so disappointing because so 49,376,882,883 13,960,317,317 63,337,200,200 1881. .. •. ••.•. ..• •••···•••··• 1880... ..... . • • • . • • . . • • • . . . • 38,614,448,223 11,375,400,000 49,989.~,223 undecided, suggestive of wide diff~rences and fruitless agita1879............ • •• • • . . • • . . • • 29,235,673,>:!29 11,290,800,000 88,526,473,829 tion, ending perhaps in another election. We might also have 678. .. . ••. .••••• .. . .•... •. 19,858,671,307 7,955,100,000 27,818,7il,307 mentioned the Bulgarian and Turkish dispute growing out of The foJlowing were the totals of the weekly statements of the Roumelian revolution in September, and the war between the New York City Clearing-House banks for each week of the year, the figures representing in each case the average for the Servia and Roumelia subsequently. Those events threatened, and even still thre~ten, by the reopening of the Eastern quesweek ending at the day named: tion, a European quarrel; but this latter contingency, though Date. Loans. S;>ecle. Legal Deposits. Circula- Ag/ll"egate all the time possible, has appeared quite remote, and not certain. Tenders tion. Clearings. - - - - ----- ----- - - - ---· - ----- even in case of its extending to other powers, of involving us $ $ $ $ * 11,808,800 Jan. 3. 297,877,700 87,867,800 37,356,000 340,816.800 520~508,478 directly, so that its influence has been less important. B Psidfs, " 10. 296,158,600 95,L7i,OOO 311,779,200 349,247,300 11,262,600 516,152,177 41,094,700 353,726,ICO 11,311,600 524,875,451 as the armistice has been extended to the 1st of Ma1·ch, the ::•• 81. ~: 295,SSi,800 98,485,600 99,909,300 40,141,200 351,749,900 11,275,000 469,540,251! ~81:~ll:~8 101,782.000 40,224,800 352,348,300 11,285,800 421,422,799 chances of a final settlement of the affair seem much increased . Feb. 7. 294,647,400 105,398,200 38,191,600 354,418,700 11,078,100 500,880,601 Anothe:r disappointing, and in many departments of trade, " 14. 291!,453,100 103,296,800 37,574.500 357,040,900 11,024,000 510,205,022 " 21. 298,231,500 101,616,000 36,139,600 352,171,000 10,977,300 466,053,626 " 28. 101,664,400 35,123,200 350,667,800 10,90i,900 423,037,3t;7 very disturbing, circumstance, has been the great decline in Mar. 7. §~~·~~·:88 103,789,700 32,027,000 353,726.400 11,086,500 512,245,891 " 14. 303:s21:800 103,715,700 355,670,20(1 10,931,100 482,688,774 silver-there was almost a panic in the city in September " 21 . 301,371,JOO 104,626,200 i~:~t:~88 '354,29t,200 10.977,600 428,776,688 " 28. 104,752,800 32,029,900 353,448,900 10,809,700 437,169,555 growing out of it. Our exports to India and China and ljll April 4 . ~8~:¥~H88 104,484,400 30,812,500 352,684.200 10,953,800 416,524,824 " 11. 802,098,000 106,055,300 30,953,600 354,415,100 10,963,500 401,584,492 silver countries are more or less interfered with and interrupted ·~ 18 801,963,300 107,691,800 32,186,100 357,937, 00 10,913,l"OO 488,510,48d " 25. 298,343,700 109,958,400 82,888,200 356.816,700 10,910,800 434,334,721 by the unsettled state of that market. A steady price, whether 111,484,200 3a,243,800 358,849,400 10,814,800 441,511,314 a low or a high one, the merchant can provide for; but a sudden ~¼LY~: 296,616,400 299,100,800 113,037,000 32,740,900 361,908,700 10,797,500 507.084,848 " 16. 298,74t-i,900 118,641,200 35,017,800 364,971,800 10,529,100 511,557,389 change means a loss somewhere, and generally to the exporter. " 23. 2{16,006,200 114,607,200 36,024,100 363,276,900 10,430,200 471,377,574 .. 29. 293,146,200 114,501,500 36,638,400 861,483,900 10,364,100 Soas long as these fluctuationscontinue, our trade must suffer . June 6. 296,307,200 114,600,100 36,471,200 364.214,800 10,116,500 ffl:i~f :ggg " 13. 296,887,800 115, 183,200 88,!195,600 367,595,500 10,187,600 Probably the manufacture of cotton goods has fared worse from .. 20. 298,1'.183,800 114,651,300 40,727.000 371,751,200 9,978,800 404,261,880 .. 27. 303,735,500 113.956.600 43,628,700 376,763.500 9,91(),700 440,059,746 this cause than any other ; in fact, it has had to contend in 448,053,921 ll4,ll9,600 42,688,000 380,798,800 9,839,!lOO JWy it 307,206,400 306,591.800 116,215, t 00 43,625,300 883,758,700 9,709,800 ~:Z~~:~gg a greater degree than most other articles with all " 18. 308,627,700 116,846,200 45,198,100 887,883,800 9.737,900 571,843,321 " 25. 308,118,200 115.733,400 44,876,200 885,065,700 9,701.200 548,484,047 of the <li:fficulties we have before mentioned, and as a conseAug. 1. 306,309,900 115,493,900 44.980,600 883,001.600 9,675,200 530,001,488 ~. 312,853,200 t15,086,500 3-<6,828,100 9.629,200 892,424,247 quence has met with a very unsatisfactory year. Goods have " 15. 314,940,600 114,611,600 :~:~8~:Y88 888,239,300 9,649,000 497,1"!51,767 " 22. 817,554,700 115,970,000 40,322,700 391,804,900 9,644,900 540,391•,462 found a slow market all the time, and stocks of many descrip.. 29. 820,112,500 39,040,400 891,1-!0,600 9,684,200 443,998,802 tions have accumulated. It was the over-productil)n of yarns 35,297,800 390,808,800 9,707,300 476,800,1\26 S~pt. 1~: 824,855,800 826,706,500 111,984,500 35,172,400 889,424,000 9,755,900 4t¼,537,658 " 19. 328,267,500 110,253,900 33,956.900 888,lSl ,500 9,788,400 480,733,380 and the reduction of wages which it led to, that resulted in .. 26. a29,089,Ioo 109.254,400 32,171,800 885,977,200 9,810,tlOO 471,652,1148 Oct. 8. 380,759,800 107,091,800 80,747,900 885,360,000 9,905,500 572,076,277 the strike in the Oldham district, lasting for three months, and " 10. 831,900,300 108,472,900 28,505,100 887,298,300 9,923,800 stopping 7,000,000 spindles. The depression that has prevailed " 17. 335,473,000 105.680.300 27,8i2,300 387,796,400 9,956,600 ~~:888:~ .. 24. 840,247,100 100,617,300 26,717,500 885,189,600 10,008,600 well indicated in our exports, which were as below for four .. 81. 844;860,800 97,084,200 27,517,600 384,479,200 9,992.400 rog:~I!:= isyears. Nov. 7. 840,958,900 93,844,900 26,799.800 380,768,400 9,993,000 775,416,616  ---  ..  m:~g:~88  " .. ~· Dec. ,, .. "  14 . 21. 28. 5. 12. ]9. 2e .  840,369,100 339,4113.200 841,387,000 838,514,100 338,726,800 337,574,300 336,938,300  92,796,300 98,1156,ROO 93,579,300 91,581,100 94,019,500 92,818,100 lll,988,200  28,757,400 29,009,700 28,614,200 29,014,900 29,069,300 28.805,200 27,212,700  380,234,200 381,106,900 882,400,900 377,635,200 378,121,800 377,502,000 323,953,000  9,952,000 10,077.300 10,085,500 10,095,200 10,082,500 10,005,700 9,924,400  779,244,286 868,ll38,911 750,425,793 742,188,50il 751,110,421 811,593,573 636,731,162  From the totals of the New York City Clearing-House statement for each Wfek of the year, given above, we have as a deduction the foJlowing percentages of specie and legal tenders held as reeen-e against liabilities (deposits only) and the b~nk rate of inter<'st each w~ek on call loans, prepare'd by Mr. Camp. Manager of the Clearmg-House: Per Ct. of Rate Date. Res'rveto of Deposits. Interest Ja-i.. 3  " 10 " 17 " 24 " 81 Feb. 7 . " 14 " 21 " 28 M<tr. 7 " 14 · " 21 -{, " 28  ·-:Arr.  4  ,:;-, .. lA " 25[  : May 2  00•74 38·64 39•45 89·81 40·28 40•51 39•45 39•11 39·00 88·39 88·2-1 33·52 88·55 88·41 38"65 tl9·0IJ  39·89 40·88   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  Per Ct. of Rate ] Date. Res'rveto of Deposits. lnt01'est  ~  8-1  8 8 8  May 9 .. 16 " 2'.l  8  June 6  40"7! 41·46 41·81 41·47  July 8  41·17  2¼ 2¼  41·89 40·93  ~¼ 2M 2½ 2 ~½  s 3  3  a  3 2 2 2 2¼  2½  ~ij  :~  "  211  ::" i~21 1r~ 41·82 :: }A  .. 25 Aug. 1  "  ::"  8  ~~  29  lf~ 41-70 ~:i~ 39-54  -  3  3 2¼ 2¼  ~~  2¼  . Per Ct. ofl Rate Date. Res'rveto of Deposits. Int'st.  Sep. 5 • 12 "  rn  " 20 Oct. 3  37·77 87·15 39'\!8 35·76 32·39  N~v·1l  ~r~  .. 21 " ~8 Dec. 5  32-18 31·95 81 iJ3  :: "  ~~  26  1885.  1884.  ------  -'-~-I ,. .  White or plain .. ... yards. 3,150,11:3. 700 3,095,353,700 3,136,180,200 2,960,647,000 Printed or dyed ...... .'yards . 1,224,16•).800 1,321.6-15,500 1,879,932,200 1,348,223,000 Mixed materials ...... vards. -~~,8001_ 280,soo 22,776,100 89,894,000 Total goods ........ yards . 4,374,478,800 4,417,2f-0,000 4,538,8&,500 4,348,764,000 Total yarns ....... .lbs. Values. Total piece goods. Total yarns .......  245,732,900 £ 48,273,926 11,859,113  270,904,000 £ 51,665,623 la,818,07d  Total valu~ ............  60,133,039  tl5,478,701  ....... ········ - - - -  ------ ----264,772,000 £ 55,534,166 13,509,732  238,254,700 £ 5:5,442,785 12,864.711  69,043,898  ~.807.41-16  The iron trade has also been steadily growing worse all the  88-28 --3- year through, until ju~t at the close. when the reported revival  ::" ½~24 ir~i ss·o5 " 31  Exports of Cotton Piece Goods.  ~~~  80"27  3 2 2~ 3  of business in the United States and considerable purchases of E 'lglish iron have resulted in the prevalence of a more hope_ i3 ful feeling. Messrs. Fallows & Co., in their annual review 2½ just issued, estimate the production of pig iron in 1885 at ~¾ 7,450,000 tons, notwithstanding the falJing off in furnaces in 8 blast, which falling off was as follow8. _ 3 s  H 8  I  Furn-;;;;_in_b_l_a_e\_______-_-_----- --.  I  Jan. 1. July J. 456 - ~ -  I  Oct. 1.  !Dec. 31  418 .  4~0  BANKING ANIJ  18  FINANCIAL.  BANK OF ENGLA.ND RATE OF INTEREST. The firm mentioned say, in explanation, that experience abundantly proves the output is not al ways in exact proporRate Rate per For Year. per Year. For tion to the furnaces extinguished, as it is the worst which are cent. cent. blown out, and the reduced number appear to increase their - - - - - - - - - - ··- - - 1883. output. The comparative statement of production, &c., is Jan 11880. 14. da.ys to June 17. 3 168 days Feb. 14 to Feb. 28. lllg as below. · 7lday II June 17 to Dec. 9. 2¼ 175 days Feb. 28 liO May 10. 3 9 to Dec. 31. 3 23 days May 10 to Sept. 13. 4 Sept. 13 to Sept". 27. 3¼ ··Year's average .... 2·76 366 days Sept. 27 to Dec. 31. 3  Dec.  Pig Iron.  1884.  1885.  1883.  1882.  -------·-----1------ ---- - - - - - Production . ... . ... •. .•.. tons *7,450,000 7,528,966 8,490,224 8,493,287  ---  Stocks at end of year . . . tons. 2,650,000 1,809,467 1.,663,976 1,658,120 Jan. 11881. to Jan. Avera~e prlceScotcbpi~ . .. . 41~.lOd. 4'ls. ld. 46s.9d. 49s.4d. Jan 13 to Feb. J?eb. 17 to Apr. * E stimated. npr. 28 to Aug. Exports of pig and rails have further declined, almost every Aug. 18 to Aug. country sharing in the decreased demand, the total of iron Aug. 25 to Oct. Oct. 6 to Dec.  and steel being in 1885 less than in 1880, as may be seen from the following:· Iron and Swel from Great Britain.  Pig Iron.  -Tons.  1885 ··••····••····· 1884 .... . ........ . lS83 . .............. 1882 · ············· · 1881 ............. 1880 ... . ..... . .... : 1879 · · · · ·· ·· · ·•·· ·· 1878 ............... 1877 . ....•..... . .. 1876 ....... . .... . 1~75 .........••.... 1874 . ..... . ........ 1873 ... . .... . .. . ..  960,160 1,269,576 1,564,048 1,758,072 1,480,196 1,632,343 1,223.436 924,646 881,442 910.905 947,827 776,116 1,142,065  Rails.  Other Descriptions.  Tons. 711,415 728,540 971,165 936,949 820,67l 693,696 463.878 441,384 497,924 414,,556 545,981 782,665 785,014  Tons. 1,456.826 l, -1 97.439 1,508,095 1,658,531 1,517,458 1,466,055 1,196,170 933,193 965,285 899,809 963,498 621,741 1,030,73-1  Tot al. Tons. 3,128,401 3,4.96,991 4,043,308 4,353,55i 3,820,31f> 3,79.!,993 2,883,484 2,296,860 2,34.6.:no 2,224,470 2,457,306 2,487,1)22 2,957,813  13_ 17. 28 18. 25 . 6. 31.  13 days 3 35 da.ya 3¼ 70 days 3 2.lg 112 days 7days 3 42 days 4 86 days 5  126 days 14 days 95 days  -- ---  Year's average . .. . 3·57 365 days  1884. Jan. 1 to Feb. 7. Feb. 7 to Mar. 13. Mar. 13 to Apr. 2. Apr. 2 to June 19. June 19 to Oct. 9. - · - - Oct. 9 to Oct. 29. Year's average .••. 3·48 3t 5 days Oct. ~9 to Nov. 5. Nov. 5 to Dec. 31. 1882. 30 da.ys Year's average .... Jan. 1 to Jan. 30. 5 24 days Jan. 30 to Feb. 23 . 6 Feb. 23 to Mar. 9. 5 Hdays 188!l. 14 days Jan. 1 to Jan. 29 . Mar. 9 to Mar. 23. 4 Mar. 23 to Aug. 17. 3 14.7 days Jan. 29 to Mar. 19 . Aug. 17 to Sept. 14. 4. 28 days Mar. 19 to May 7 . Sept. 14 to Dec. 31. 5 108 days May 7 to May 14- . - - - May 14 to May 28 . Year's average .... 4·15 365 da.ys May 28 to Nov. 12. Nov. 12 to Dec. 17 . 1883. Dec. 17 to Deo. 31. 24 days Jan. 1 to Jan. 24. 5 Jan. 24 to Feb. 14. 4 21 days Year's average ....  3 3¼ 3  38 days 35 days 20 days 212 78 days 2 112 da.ys 20 days 3 4 7 days 5 56 days  ---  --  ----  2·96 366 day,..  5  4 312 3  --  2111  2  3  4  29 da.ys 49 days 49 days 7 days 14 days 168 days 35 days 14 days  ---2·92 365 days  The followmg 1s a statement showm.g the situation of the Bank of England each week of 1885, with the Bank and market rates of discount at the same dates, taken from the The competition in the iron trade of Germany is the par- London Statist : BANK Oll' ENGLAND IN 1885.-(00,000s omitted.) , - - - - ticular complaint just now. Germany's increase in produc':o. :i -!:16.'S DEPOSITS, SECURITIES. ~ tion has been constant, even during late years, when every~ ~~~ cAg -~ A ~ ~~~ ~!~ ,!:d 0 where else has been falling off, and yet as a competitor in ;.; ~ t-.o ~0,.!:d 0~ ;:::l <1) ~ 1885. I> ~Z'd neutral markets we do at present see much fear, since its ~ ;~~ 0 ~ ~ ~~ -a'o ~ .g <1) A C, 0 0 ~ ~F~~ . z p:i.0 A P-4 exports have not increased ; in fact they are not large and -~ = --£- -----· ·- - - --£ £ £ £ £ £ apparently becoming less. Germany's production of pig, 11,3 21,9 15,7 7,0 26,8 Jan. 7 . . 25,2 20,7 exports of pig, &c., have been as follows for four y·e ars. 12,l 4.,8 20,9 24,6 14,6 " 14.. Z4,7 21,1  I  .s  s~2  ----  ---•-------~~1  1884. 1883. 1882. Production of pig . ... ... tons . ..3, 750,000 3,572,155 3,380,788 3,170,957 Exports of pi~ . .• . .... .. t ons . . .. ... .•. ! 230,000 258,460 186,948 Exports of rmls .. .. . .. . tons 144.450 176.170 180,650 * Estimated.  In like manner we might review other trades, reaching similar conclusionfil, for the year has been quite generally disappointing. Iron and cotton goods have probably suffered most, but the demand for all our products, both home and foreign, has been sluggish, with prices tending downwards and profits consequently at a minimum. Though the :figures of total exports, because of the lower values, do not strictly reprernnt the relative movement compared with. previous years, yet the following statement of imports and exports indicates pretty clearly what the general trade situation has been.  -  EXPORTSHome products .. . .... Re-shipments o1 imports  Tota.I exports ..••.••. .. .. IMPORTSTotal mercha.ndtse ...... Excess of imports .. .. ...  1885. £  213,031,407 57,903,52~  1884.  1883.  ----------·-£ £ 233,025,242 62,942,34l  237,799,473 65,637,597  270,934,935  295,967,583  303,(37,070  373,834,314  389,774,549  102,899,379  93,806,966  --------  21.. 24,3 24,0 24,3 .. . 11. . 23,8 .. 23,5 " 18 25 .. ~3,4 " Mar. 4 .. 23,8 1 l.. 23,5 " 18 " 25 ... . 23,3 23,8 " A:r,r. 1.. 24,9 8 .. 24,9 15 .. 24,6 " Z2 . . 24,4 " " 296 .... 24,6 ~4,9 M~y 13°.. 24,6 24,4 20 .. ":. 27 .. ~ 4,2 June 3 .. 24,9 10 .. 25,0 " 17 . . 24,7 24 .. 24,9 uly 1.. 25,8 8 .. 25,8 .. 25,4 " 15 22 .. 25,1 25,l 29 .. " ng. 5 .. 25,7 • 12 .. 25,5 19 .. 25,1 " 26 •. 24,8 ept. 2 .. 25, L " v .. 24,7 .. 24,5 " 16 23 .. 24,3 30 .. 25,2 ct. 7 . . 25,5 14 .. 2R,l 21. . 25,0 28 .. 24,6 " ov. 4 .. 25,0 11.. " 18 .. 2-!,7 24,4 " 25 . . 24,l " ec. ,, 92 ... . 2l,5 24,1 .. 24,0 " 16 23 .. 24,4 " 30 .. 24,5  "  425,603,932  I  ----  122,166.862  The changes in the stock of bullion in Great Britain, so far as they are indicated by the imports and exports of bullion, bav~ been as follows since 1880:  I  I  1885. I 884. 188•:_ I 880. 1 • 81. GOLD£ £ £ £ £ Impo,ts . ...... . 11,374,000 10,720,000 ;,733.30 0 U,>;5,9141 9,960,956 Exports ..... ... l 1,931,000 12,013,000 7,091,365 12,023,804 15,498,837  -- - - - - - - 6!1,944 2,352,111 . ... . ....... --  Excess imp'rts. 1,443,000 . . . . . . . . . . . . Ex<'essexp orta. . .. . . . ... . . . 1,293 oou . ... . . .  " 28 .. Feb. 4 . .  ... .. . ..  .. ...  .  21,R 22,2 22,5 23,0 23,7 24,2 24,6 25,1 25,9 26,0 2'>,7 25,3 2 i'l .6 25,9 26,9 27,0 26,4 26,6 26,8 27,1 27,5 28,0 28,1 27,5 27,2 27,:'i 26,9 26.6 25.8 25,1 25,5 2i.8 24,4 22,9 22,9 22,4 21,9 21,4 21,5 20,9 20,7 20,6 20,7 20,9 21.3 20 9 20,6  20,5 20,3 20,1  4,8 6,0 7,1 8,3 9,7 10,8 11,3 11,8 12,3 11,9 11,2 8,4 8,0 8,7 8,9 8.6 8,3 7,8 7,5 7,1 7,7 7,7 7,9 6,4 6,2 4,9 5,7 5,3 4,7 4,2 4,2 3,6 3,2 4,4 4.0 4,4 5,7 5,6 3,7 3,6 3,0 3,!. 2,9 3,1  3,0 2,8 3,2 3,0 3,n 4,0  25,1 24,o 2:l,9 23,5 23,3 24,4 23,8 25,0 24,8 25,3 2 5 ,6 25,7 26,6 2fl,6 26.4 2ti,5 26,'l 27,3 27,9 28,1 27,4 28,3 28,2 21},2 82,3 34,2 33,1 33,0 32,2 30,2 30,6 31,1 31.0 28,8 29 ,0 28,5 28.0 29,6 31,2 29,6 27,0 25,9 25,1 2-1,l 24,8 24.3 23,2 23,6 23.2 25,0  13,6 13,6 13,li 14,0 14,0  u ,o  14,0 14.,6 14.,G 14,6 14,7 14.2 14,4 14,4 14 ,4 14,5 14,1 14,1 14,1 14.3 13,7 13,7 13,8 13,8 17,0 17,0 17,0 17,0 17,6 15,9 15,o 15,9 16,0 15.1 14,9 14,9 17,2 1-l,1 18,5 17.5 15,2 15,1 14,3 13.0 l~,3 12,7 12.5 11,8 11,5 12,0  21,4 21,l 20,6 21,1 21,2 22,7 23,1 23,3 22,7 23,1 24.1 21,7 21,4 21.5 20.7 20,7 20,7 21,0 20,8 20,8 21,0 21,1 2l,2 22,2 22,3 22,3 22,3 22,1 21.5 21,3 21,2 21,2 2~,5 22,7 22,5 22,6 22,5 22,3 22,1 21,7 20,8 20.4 19.8 19,7 20,4 20,0 19,5 20~2 20,3 23,4  13,0 13,9 14,0 14,9 15,9 16,5 16,5 17,4 18,3 17,9 16,5 lli,2 16,7 17.2 18,0 17,8 17,5 17,9 18,4 17,9 l~,2 J9,0 18,9 17,4 17,1 17,8 17,5 17,~ 15,9 15,4 16,1 15.7 ln,l 13.9 14,1 13,8 12.4 11,7 12,1 11,7 11,8 11,3 11,7 12,3 12,9 12.~ 12 2 12,3 11.6 11,3  .... . .. 5 535 ' 8 8 1 The situation of the Bank of France, as to its stock of gold There has been no financial pressure experienced during the and silver, according to the last returns of each month of year; on the contrary tbe difficulty has been to know what to 1883, 1884 and 1885, may be seen in the following, stated in do with balances. Still the Bank of England rate has pounds sterling. GOLD AND SILVER IN B.\NK OF FRANCE -roo,"00S omitted.] averaged about the same as last year, the necessity for protecting the Bank's reserve having 1 led to frequent cha.nges, 1884. Gold. Silv'r Total 1888. Gold Silv'r Total 1885. Gold. thA open market underbidding it all the time. In June and £ £ £ £ :£ £ £ £ £ July, 1885, the open market rate for 3-months bank bills was Jan. 29 40,0 41,1 81,1 I.Jan. 81 88,1 89,7 77,8 Jan. 8l 88,2 48,1 81,S 2f\ 40,1 41,6 81,7 Feb , 28 39,5 40,0 79,5 Feb 28 39,6 43,4 83,0 all the time under 1 per cent; for mQre than a month it was Feb. Mar. 26 40,4 42,4 82,8 Mar. 27 40,2 40,1 80,8 Mar 80 39,9 42,1 82,0 only¾ of 1 per cent, being quoted one week at 11-16 of 1 per April80 42,1 42,5 84,6 April 24 40,1 40,1 80,2 Aprll27 40,0 41,8 81,8 40,S 42,0 82,8 cent; and from about the 1st of May to the 1st of November May 28 43,6 42,9 86,5 May 29 41,4 40,5 81,9 May 81 40,2 42,0 82,2 June 25 46,0 48,8 89,8 I.June 26 41,8 40,6 82,4 June 29 the exceptions were very few when it got above 1¼ per cent. July 80 46,8 48,8 89,6 July 81 41,8 40,6 82,4 July 26 89,7 41,5 81,2 To show the variations in the Bank rate this year, compared Aug. 27 46,8 44,1 90,9 Aug. 28 42,8 41,1 83,4 Aug. 80 39,2 41,4 80,6 91,2 Sept. 25 42,f> 41,1 83,6 Sept. 27 80,0 41,1 80,1 with previous years, we have compiled the following, giving Sept. 24 47,0 44,2 89,7 Oct. 80 42,2 41,1 83,8 Oct. 25 88,6 40,7 79,3 Oct. 29 45,9 43,8 each change since January 1, 1880, the number of days each Nov. 26 48,5 43,'; 90,2 Nov. 29 41,8 4t,2 82:'5 Nov. 29 88,4 40,8 78.7 Dec. 81 46,8 43,4 89.7 IOec. 25 40.6 41.8 81,9 Dec. 27 88.4 40,l 78.5 rate ruled and each year's average rate:   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  s11,:,,to•~  -  TRADE  AND  COMMERCE.  EXPORTS, IMPORTS, PRICES. In the fiscal year ended June 30, 1885, the imports of foreign merchandise into the United States fell off about $90,000,000 as compared with the previous year; the ex. ports of merchandise were $742,189,755, or nearly the same as in the preceding year, thus le!-lving the trarle balance, or excess of exports over imports of merchandise, $164,662, 426, against an excess of $72,815,916 in 1883.4 and $100,. 658,488 in 1882-3. The imports of foreign merchandise into the country underwent remarkable changes between 1883 and 1885, owing to the depression in business and the low prices for foreign goods. The fiscal years endmg in 1882 and 1883 showed the largest imports on record, the two years varying but little in their respective totals, which approxi• mated $725,000,000. From this point there was a. decline of a.bout $55,000,000 in 1883-4, and a further decline of a.bout $90 1 0GO,OOO in 1884-5. From 1856 to 1875 inclusive, the exports of merchandise had been in excess of the imports only three times, and in those years the amount was comparatively small, and the excess of exports of specie over imports was considerably larger than the balance in expJrts of merchandise. But with the fiscal year 1875-76 a neweracommenced, and the exports of merchandise began to show a decided. excess over the imports, which excess increased largely in the following years. In the fiscal year ending June 30, 1877, the exports of merchandise exceeded im. ports by $l51,159,228; in the year ending June 30, 1878, there was a similar excess of $257,814,231; and in the year 1878-79, $264,636,602, making a total excess of exports for t.he three fiscal years:ending June 30, 1879, of $673,610,061. The foreign trade movement had an important bearing on the financial situation during the three years prior to 1879, while the Treasury was preparing for the resumption of specie payments. In the year ending June 30, 1880, the excess of exports over imports fell to $167,908,359, owing to the large increase of imports, stimulated by the prosperity and higher prices in the United States which began in 1879. But imports fell off sharply after July: 1880, while exports of merchandise increased, and so for the fiscal year ending June 30, 1881, the excess of exports over imports of merchandise amounted to $259,712,718; in 1881-2 the excess of exports was in roun<l numbers only $26,000,000, a. decrease from the previous year of $233,712,718; in 1882-83 the excess of exports rose again to $101,000,000; in 1883-84 it was only $73,000,000, and in the last year, 1884-85, $164,000,000. COMPARA.TIVE PRICES OF MERCHANDISE,  The table following shows the prices of leading articles of merchandise about the fil"8t of January in 1860, which was . before the war exc1~ment had begun to affect the markets d f h · · ' au or t e past six years-1 881 to 1886. The period covered,   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  by the comparison is the most eventful the country has evef passed through, and the variation in prices has been to the extremest limits. At the period of greatest depression in prices-in 1878-79-the cost of the necessaries of life was at a minimum, with such prices as $7 per bbl. for pork, $2 per ton for anthracite coal at tide-water, $3 50 per bbl. for wheat flour, $17 per ton for American pig iron, &c., &c. .As the depression was abnormal, so the recovery was rapid, and during the years 1879, 1880 and 1881 the tendency was towards higher rates, with a greatly increased volume of business. From 1882 to 1885 the movement was again downward, and on the first of January, 1806, prices of many articles wer41 near the lowest points reached on this ebb, as the advance in merchandise from the extreme depression of 1885 bad not been at all in proportion to the advance in securities at the Stock Exchange. J ,muary 81860.  Breadstuffs" Flour-Sp. wh 't,ext.bbls. Patents . . . ... .. bbls . Rye, superfine ... . . bbls. Cornmeal, Br'ywine.bbls tWheat-White, No.1.bu. Red Winter, No. 2 .. bu. W est'n ~pr'g, No. 2 . bu. Rve, Northern ..... hu. Oat~. No. 2, white . .... bu. CornWest. mi.1rnd, No. 2.. bu. White Southern .... bu. *Cotton-  f~~cll~~lfdl{~;1H1piaiicd~: Cotton goodsBrown sbeetinszs . . ... yd . Print cloths, 64x64 .. . . yd. Fish-  ~~:l(~~~r::::lrei."~i:  4 7 4 S 1 1  so 50 00 90 50 so  ·g2  1884.  1885.  1886.  4 25  5 8 4 3 1 1 1  4 25 7 25 S 80 3 90 110 113¼ 1 10 72  S 75 6 75 S 65 S 45 111 118¾ 1 06 74 42  8 5 S s  S 5 S 8  70¾ 70  65½ 71  us  46  46¾  uo  57 58  88 11  11¾  fo)  ·:bbl  it½  .... ....  lg~ '7¾  io½ 40  48  W'  so 50 50 so 88 86 85 66 86¼  54½ 54  75 75 55 15 95 92 92 68  43  51 55  i'3  ~ 4~~ 4 50  --  10 50 90 85 42 45 so 96 50  1115-16 10 9-16 9 11¾ 11½ 11~:M91½~~ 10 3-16 10 18 § 81s  .... ....  • FLOUR-" S:pring  1888.  5 55 8 40 116 11>-¼ 117  IronScotch pig ............. ton. 24 50 American pi~········ .ton . Lead-Domestic ..... 100 lbs. Leatherso Hemlock so let light .•.. lb. so Lg:~818in'.ii~ckiaii"<i 75 58 Molasses-N. Orleans ..gall. Naval StoresSpirits turpentine ... gall. Common rosin ........ bbl. 1 Oils52 Crude whale .......... gall. Crude sperm ..... ... . .gall. 1 40 57 Linseed . . . . . . .. . ...... gall. PetroleumCrude .. . .. .... . ....... .gall . Refined . ............... gall . ProvisionsPork, mess ... . ......... bbl. 16 87½ ll 50 8 14 50 Hams, pickled .... . ..... lb. Lard, Western . .... . ... lb. 24 Butter, prime State ... lb. 11 Cheese, fine factory .... lb. Rice-Domestic .......... lb. 4¾ SaltLiverpool ground .. .. sack. 115 Liverpool,Ashton's. sack. 1 95 S'cfua{; fair refining . ... . lb. Refined hards ........... lb. Tallow . . . . .. ... . . . . . .... . .lb. Wcol-lftne Ohiofl.eece •. lb.  1882.  8 50  1 1:~p~l/Jflf·:.::·:~~. .f~: Hops ...................... .lb. ..is  I::~· Kl~~-~~. .~~~~.-:~~t  1881.  - - - --- - - - - - - - - - - - -$ c. $ c. $ c. $ c. $ c. $ c. $ c.  8¾ 4  8  S¾  5 62 5 75 7 15 75 20 00 16 110 70 11¾ 2~¼ 1 26 23 50 24 50 4 25  25 00 26 50 5 25  23 32 90  22 86 l 00 68  50  55 4.5¼ 1 !,O 2 35 48 98  60  6½  9¾  s1:t3 s b:M 1  4 25 50 5 75 4 50 00 21 00 28 00 21! 00 70 65 55 70 8 10½ 11½ 1~¼'. 00 26 11  23 00 25 50 4 75  22 50 20 00 S \15  21 50 lt! 00 S 60  24. 35 85 55  85 48  22 85¾ 110 61  52 85 157¼ 1 50  57 50 00 ~½ 1 58 6½ 7  57 g5 58  :m  8½ 9¼  12 50 17 00 18 50 14 8 50 11 51) 12 50 12 17 25 2125 18 50 24 12 7¾ 9 1f~ 87 2fl 14 12:).t 18¼ 6)4 6½ 6½  i&¼  75 2 50 7¾  I<½ 6¼  (5  --  75 2 50  ~ 4.'"fl'  s-1~  75 2 50  S2  28 S4  100 48  87¾ so~ 1 07¾ 1 22 54  77  52  6% '77Ai  48 S.5 50 '7"'  7!'(  12 50 10 25 11 00 1000 18 00 16 75 9 8½ '7·10 6Ja S5 31 2-l ]OJ,.( 12½ 11½ 6 5~ 5¾  75 25 00  or~ 7 2 50  7  6¼  '2  7J.,., 88  ~  2-l  19 50 18 00 4 70  ~  75 2 50  ~  6 S5  80 2 50 5¼ 7~ r, 86  Wheat Extra" is now the common shippinii; flour to Great B1·1tain, and is about the same as the "Wheat Flour, State," quoted in 1860 and previous yeara-' ·Patents" are the highest grade, and correspond with Ext,·a Genessee of 1860 and previous years. t wu~;AT-" White No. 1" prob1:1.,bly cori-esponds as nearly as any present grnde with White Genessee in Old Classification-" Red Winter No. 2" would probably raulr with '·Red Western" of Old Classification. The other grades m ent.ioned for breadstum,, cover same as quoted in old lists of prices in "Hunt's Merchants' Magazine." t CoTroN-On Oct . 1.1874, grades of cotton as quoted were changed by the National Cot.ton Exchange. According to the newclassifl.Qation, every grade was reduceJ., so that (for illustration) Middlin~ accord · ing to new classificatiou was on that day quoted 3tc. lower than Middling f'f the old classification. HThe brown ll!heetings quoted a,r., Atlantic Mills. 9 101s1r.  TRADE  AND  'l'OTAL VALUE OF IMPORTS AND EXPORTS OF THE UNITED STATES,  For the purpose of showing the total amount of exports and imports· of merchandise, and the total of specie, in each year &ince 1860, the table below has been compiled. In the columns headed ''Excess" are giV'en the differences between exports and imports each year, showing at a glance the so-called trade balance of the country. The merchandise and specie are separately stated, as the specie exported or imported in each year s regarded rather as a settlement of the balances occurring from the trade movement ; the values of domestic merchandise iand specie exported are also stated separately from the re· exports of foreign goods and specie. The year 1876-77 was the first to show that radical change in the course of our foreign trade which has ever since been consoicuous. and which culminated in 1880-81 with an excess of $259,712,718 in the exports of merchandise, together with a net import of $91,168,650 in specie. In the next year, 1881-82, the excess in exports was only $25,902,683. In 1882-83 the excess was $100,658,488 ; m 1883-84, $72,815,916, and in 1884-85, $164,662,426.   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  15  OOMMERGE.  While the movements of merchandise and specie between the United States and foreign countries are tolerably well shown by the Government statistics, an uncertain element in the exchanges exists in the movement of stocks and bonds. This has greatly increased of late years, and the absence of any public record of the amount of securities passing between the United States and foreign countries causes great difficulty in forming correct opinions as to the foreign exchange market. It may not be practicable for the Government to establish by law a regulation that all securities .exported or imported f:lhall be registered or reported at the Custom House, but such a regulation would unquestionably be of great benefit to the mercantile community in giving more precise information as to the condition of the foreign exchanges. The tables below of the imports and exports of leading articles of merchandise in each of the past four years present in themselves a brief history of the course of merchandise movements, and show, as to domestic products, that a small quantity of merchandise frequently brings a larger profit to the seller than a much larger quantity at lower prices. The tables are also interesting in showing the growth of trade in certain specified articles and the decline in others. The f'Xport of certain manufactured goods in 1878-79 was one of the results brought about by the low prices in the U oited States, which placed our goods in foreign markets in competition with those of England and European countries. But not again till the year 1884 were prices on a level where competition with European manufacturers was practicable. EXPORTS OF LEADING ARTICLES OF MERCHANDISE.  The following table shows comparative exports of leading articles from the United States for the laet four fiscal years. The relations between quantities bnd values of exports in a series of years taken altogether is particularly striking. Thu"', in the lec1ding articles of cotton, corn, pork and wheat, it will be observed that the quantities exported in different years vaned widely, and an increase in quantity was not always accompanied by an increase in values, owing to the lower prices current. The striking f ea.tu re of recent years has been the enormous volume of · domestic products sent abroa<l, and the supremacy of the United States in the production of cotton seems to be thoroughly established. As to wheat, there has been much talk of the competition of India. and Australia, but it has not yet been proved satisfactorily that this country is to be supplanted:in the wheat markets of Europe by the produce from other quarters. EXPOltTS OF LEADING ARTICLES. ----------------ARTICLES.  1881--82.  1882-83.  1883-84.  1884-85.  Bacon and hams . .. .. ..... lbs. 468.026,640 840,258,670 881l,499,86R 400,127,119 do value .... $ 4ti,675,774 88,155,952 39 .684,845 37,083,\l48 Butter ... . ... .... .... ..... lbs. 14,794,31)5 12,848,641 20,627,374 21,683.148 do value ... .. . .......... $ 2,864,570 2,290,665 3,750,771 3,643,646 Beef, fresh and salt ed ....lbs. 115,486,203 122,744,995 163,80:5,188 164,496,978 do value .......... . . .. ... ...$ 10,R71,437 12,084,418 15,257,864 14,892,521 Cheese ..................... lbs. 127,989,782 99,220,467 112,869,575 111,992,990 do value .... ........... . $ 14,058,975 11,184,526 11,663,71::i 10,4«.4011 Corn ................. . .. bush. 43,184,915 40,586,825 45,247,510 51,834,416 do value ......... . ......... $ 28,845,830 27,756,082 27,648,Ul9 28,003.863 Cotton, Sea Island .. .... . .lbs. 4,853,592 5,692,079 S,598,86tt 6,764,038 do do value . ... $ l,398,21l6 1,662,281 1,160,678 1,685,6 , 5 Cotton, other ............. lbs. 1,735,122,369 2,282,882,983 t,858,973,664 1,884,895,489 do do value ......... $ 198,414,848 245,666,440 195,tl54,581 200,27!!,823 Cotton manufacturesColored . ..... .. ....... . .. yds. 29,52'5,672 84,066,292 35,441,296 82,73.ll,128 do value .... . ......... $ 2,82fl,319 2,648,~78 2,579,866 2,l.!30,5fl7 Uncolored ... . .. ... .. .. yds. 114,994,402 103,684,459 99,750,450 114,806,595 do value .. .... .. .. . $ 9,851,713 8,629,728 7,50:J,361 7,919,670 All other .. ..... . .. ....... .. $ 1,544,947 1,673,144 1,801,984 l,686,854 Firearms . . ......... .. ........ $ 907,957 1,097,984 1,266,831 l,700,fl55 Flour (wheat) ......... ... bbls. 5,915,686 9,205,664 9,152,260 10,64fl,H5 do value .. .. ..... ...... . .. $ 36,375,055 54,824,459 51,139.696 52,146,336 Leather, value .... .... . ... . .. $ 7,747,544 6,423,922 7,023,570 S,539.3711 Lard ....... .. ... .. . .... ... lbs. 250,367,740 224,718,474 265,094,719 283,211-1. 839 do value .................. $ 28,975,902 26,618,048 25,805,958 22,595,219 Oil cake and meal ... . .... lbs. 421,269,116 457,701,800 524,847,331 498,664,241 do value ... $ 6,802,828 6,069,2t6 7.115,153 6,674,466 Oil, illuminating .. .. ... gals. 4il8,213,03'l 419,f-21,081 415,015,693 4!18,243,192 do do value ..... . $ 44,588,854 36,926,574 38,195,849 40,074.827 Pork .. .. . ....... ...... .... .. lbs. 80,447,466 62,116,802 60,548,73(. 7:l,07~.468 do valne ... ..... .... ........ $ 7,201,270 6,192,268 4,762,715 5,203,943 Rosin, pitch, tar and tur1,328,0">4 1,419,525 1,642,014 pentine........ . ... bbls. 1,156,62-< 2,21H.f6J 8,242,818 a, 119,200 do do value.$ 1,206,628 88,810,098 63,091,103 50,431,719 Tallow ..... . . . ... . ........ lbs. 50,474,210 8,822,476 8,248,749 4,793,875 do value ....... .. , ... . ... ;I; 4,015,798 Tobacco (leaf) ............ lbs. 223,665,980 235,628,360 H~.>., 180,820 219,221,207 21,799,254 19,438,066 17,405,284 do value ... .. ... ....... $ 19,0f\7,721 84,658,714 106,385,828 70.849,012 Wheat .... . ... .. .. . ...... bush. 95,271,802 ~value ...... .. ......... $ _]12,9~9,7181 119,~?9,34!:.!__75.026_,6781 72,988,0ln  IMPORTS 0~' LEADING ARTICLES OF MERCHANDISE.  The table followin~ showd a comp trison of the irnp ,rts of leading articles of merchandise, both quantities and v:."tlue ~, into the United SGates, in the la-1t four fisc tl years. This comparison will be found extremelyinterestin~ to those who watch carefully the course of merchandise movements. as it shows not only the quantities of the principal articles of eomme, ce imported in each of th.:1 Jears named, but the valu s al1-o, tlm_s exhibiting the relation betwe~n quantities and values as :-d I •ct ed by the change in prices of many articles The large decline in prices of merchan li:se had bf'en one o( th~ salient  TRADE AND  16  points in the four years preceding July 1, 1879, and after the close of that year there was a very decided change in 'the import movement. The improvement in prices led to a oonsiderable incre1se in orders for foreign goods, and the growing volume of the import~ was one of the features of the fiscal year 1879-80. This movement, however, checked itself, and after July, 1880, there was a great falling off in the imports of foreign manufactured .goods, resulting in a decrease in the total value of imports for the fiscal year ending June 80, 1881. But the largest imports of foreign merchandise ever made into the United States were recorded in the fiscal year ending June 80, 1882, amounting to a total value of $724,639,574; and in the next year, 1882-83, the total was nearly the same, being $723, 180,911.. In 1883-84: it fell off to $667,697,693, and in 188485 to t577,527,329. IMPORTS OF LEADING ARTICLES.  ARTICLES.  1881-82.  1982-88.  1883-84.  to cotton, as the season had been so favorable for that staple and the product was known to have been largely in excess of the previous year. MERCHANDISE.  f  ·1  ···f  ·MHti  :~~:~  :•:·:::~~:Si  IMPORTS AND EXPORTS FOR THE TWELVE MONTHS ENDED WITH DEC., 1885 AND 1884, AND FOR THE SIX MONTHS, JULY TO DECEMBER, IN EACH YEAR.  For the 12 For the 6 For the month of Months ended Months ended Dee. 31. lJec. 31. December.  -  1885.-Exports- Domestic .. _.. Foreign .. ·-- · Total ·-··-·· ·-··-- · Imports ...... ·-······-- · Excess of exports over imports Excess of imports over exports 1881.-Exports- Domestfo ... _, Foreign ...... Total.._ ............. Imports .... ··-·· __ , ..... Excess of exports over importi, l!:xcess of imports over exports  $73,066,851 $345,470,206 $673,593,120 15,253,436 7.0-10,508 1,206,4'79 $74,273,330 $352,510,714. $688,846,556 51,894,45'1306,529,357 587,551,506 $22,378,877 -$!5,981,35 7 $ lO 1,295,050 $90,101,616 $3oif;;60:o:i2 l$,aa,16s: 1,ii 1,236,479 7,298,881 15,597,664 $91,344.,155 $405,8:::.3,913 1$74.9,3b6,428 42,170,993 296,505,180 , C:2~,261,860 $1B,173,162 $1~~-•~.~~~ ?~~ !$1~~}.l O~,~~-~  ·--··· .. ··-··  GOLD AND SILVER-COIN AND BULLION.  1884-85.  :Barley . .. . ........ . ...... bush. 12,182,722 10,050,6o7 8,596,122 9,986,507 5,922,144 6,522,092 do value ................. $ 10,886,628 7,787,984 802,872 829,777 891.769 919,984 Cif~r\~it!~~~~~.s.'. ~~:: .'. ~~~$ 8,032,088 3,189,225 3,133,945 8,187,2713 Coffee ...... ...... ....... .. . lbs. 459,922,768 515,878,515 584,785,542 572,599,552 46,041,609 49,686,705 42,050,518 46,723,818 do value .................. $ Cotton, manufactures ofBleached and unbleached, dyed, colored, stained or 21,192,397 pt1,inted ..... . .. f\q .yds. 83,288,511 21,020,809 25,180,494 4,685,323 2,934,616 2,361,367 2,7:56,520 do do val. .. 7,501,449 8,560,068 6,IJ94,841 6,807,239 Hosiery. shirts & drawers 22,164,520 26,521,36:'> 20,51'2,077 19,037,3\!9 Other manufactures of .. 6,979,650 8,864,072 4,051,818 4,837,71'2 Earthen.stone& Chinaware 23,655,092 Flax, hemp & j lte, mfs. of .. 25,200,070 22,760,091 20.492,376 Fruits and nuts ... . . .... . .... $ 18,401,818 20,3il,221 10,754,005 16,6'13,929 Gloves, kid and l'ther, val .. $ 3,954,929 8,893,872 4,099,271 8,011,676 H8!1Ilp, raw ........ . ...... tons 86,679 29,063 25,925 82,4113 6,110,152 4,927,269 4,227,876 4,988,842 do value ... . ........ llides and skins . . . . ... . . .. .. 27,841,126 27,640,030 22,350,906 20,586,448 22,712,862 Ind. rub'r & gutta percha.lbs. 21,646,320 24,574,025 24,208,148 14,264,903 15,511,066 13,736,004 do do val..$ 9,095,256 Iron and manufactures ot496,045 Pig iron ...... .. ....... tons. 483,602 283,172 151,959 9,213,556 do value ...... . ...... $ 7,944,982 4,932,595 2,609,268 Bar iron. ..... .lbs. 150,393,845 116,869,746 86,432,839 78,378,128 do vaiue::: ........ ... $ 8,159,490 2,409,948 1,742,066 1,436,999 Railroad bars ... .. .. .. . tons. Hl,312 5,226 587 26 2,292,1:194 155,946 do do value ....... $ 17,740 81:10 Railroad bars, steel.. tons. 214,323 112,836 4,177 do do value .. $ 7 3,678,794 103,604 2J:~ Lea1, an 1 manuf's of ...... . $ 168,070 141,784 486,436 Leather . ... . ...... . ........ . . J 7,029,041 8,235,053 7,835,116 7,000,010 Linseed .......... ..... .. bush. 635,079 637,729 2,849,226 2,548,864 do value ................ $ 773,014 677,040 8,079,848 2,817,715 87,2613,830 83,228,276 84,l28,8t0 31,392,898 Mo~isesvaiue.":.".':::: :: :~~l.~ 10,040,511 7,679,604 5,600,685 4,199,21J6 Opium and extracts of ... lbs. 370,24\l 457,499 831,172 88!,434 do 1,826,998 do val..$ 8,138,139 1,318,271 861,753 Paintings, statuary, &c ..... $ 3,036,812 8,403,874 1,182,204 1,755,718 Rags . ... ........ ....... . .. .lbs. 153,309,691 151,084,340 167,585,100 184,51-Jl,262 do value ................... $ 4,478,176 4,015,477 4,027,267 3,098,627 Rice and rice meal. ...... lbs. 69,277,163 88,746,120 94,252,090 110,788,217 do value ... . ............... $ 1,526,430 1,729,627 1,912,961 2,191,940 Sugar, brown . .. . . ...... .. lbs. 1,979,727,915 2,133,918,484 2,756,416,896 2,717,884,653 do value . .. ... ... $ lt0,065,218 1:11,516,804 98,262,d07 72,519,514 Silk, raw ................... lbs. 2,879,402 3,253,370 8,222,546 8,424,076 do value ............... $ 12,890,392 14,043,840 12.481,496 12,421,739 Silk, manufactures of, val..$ 88,985,567 36,764.2i6 36,673,646 27,467 561 845,775,1)45 903,766,993 027,122,484 867,680,072 1 1,673,515 1,674,308 1,663,881 l,519,91J8 :~~::·:.: :.::_:::: ·:·::: : : 78,769,060 78,479,164 67,665,ll10 72,104,956 do value .... . .............. $ 19,392,102 17,802,849 13,636,053 14,047,583 Tin ...... . . . . ............. cwt. 186,616 266,851 260,139 230,606 do value . .. ... .. ... . . ... .... $ 4,953,588 6,106,250 5,430,054 4,288,-160 Tin plates . .... . .. ... . .... cwt. 3,936,869 4,840,386 5,078,947 5,071,540 do value .... ... .... $ 16,599,264 17,699,239 18,182,687 16,665,739 Tobacco, leaf ............ .lbs 11,889,828 14,893,131 12.955,01'7 12,924,265 do value ......... $ 6,230,865 8,548,999 5,962,163 6.301,988 Watches and movements .. $ 2,584,420 2,522,111 2,062,804 1,141,102 Wine in casks ........... gals, 4,8i8,919 6,187,520 3,419,532 2,774,i71 do value ......... $ 3,160,672 8,939,278 l,979,ll53 2,241.68·i Wine in bottles . ....... . . doz. 511,441 643,176 452,903 467.001 do value ....... $ 4,398,586 6,040,848 3,680,880 4,034,021 Wool and woolen goods67,861,744 70,575,478 i8,350,651 70.59fl,170 11,006,050 10,949,331 12,384,709 8,879,923 ::ir~~~i.~~.: .::: 12,971!,88& 13,387,789 12,921,840 10,102,354 Shawls ...... .. . ... .. . ...... . $ 1,052,728 1,162,699 962,543 1,056,433 Carpets . .... ...... .. sq. yds. 715,583 884,959 953,675 799,617 do value ........... ... $ 949,670 1,058,912 1,303,035 1,127,492 Dress goods . ..... .. sq. yds. 65,007,453 fl4,254.827 59,432,486 50,598.880 do value .......... . $ 16,393,504 19,637,656 18,906,463 18,464,647 All other wool manufact.$ 5,1185,721' '9,03.:!.~0fl 12,068,702 10,025,633  :11:~.~  COMMERCE.  1885. -Exports-Gold-l>oll'.t ... Foreign Total. .•... Silver-·Dom . ___ Foreign. Total.--· .. Total exports . _...... Imports-Gold ..•. ·--·· Bilve:,r ..• ,. ___ Total . . _.··········-·· · Excess of exports over imports Excess of imports over exports 1834.-Exports-Gold- Dom ... Foreign Total. ..... Silver-Dom... Foreign Total.--···-· Total exports · --•··-·· Imports-Gold ..... _.. . Silver ____ ·--· Total. ___ .-···--· .. . -Excess of exports over imports Ex<>ess of imports over exportR  ~8 .'>2,517 937,1)97 $1,789,6l4 $1,860,956 I,342,7:l7 $3,203,683 $1,993,297 'B5.617,7Q!l l-,5 ·t9,6o~ $t,l47,308 $ .. .. ·-· ' ... 2,154.0ll $218,99! l,5"13 $2:W,557 $i,608,29 I 1.~63,232 $3,871,5~6 $4,092,083 $2,l 31,793 1/)71,490 $3,i:103,2~:I 218,7::14  ··-·---- -- --  $ .t,884, ltHI 1,3t3,4':!0 $4,2lli,ti4\:I $10,613,922 5,~97.92! $ .Lti,511,84::$ $20,719,492 $16,346,310 L0, :-(58,lOfi $l6,i04,415 $ --··-····-· 5,984,923 $1,251,002 14,692 $1.~68,691 $10,256,Uf> 6,728,789 $ l ti,\:1~4,93 l $18,253,628 $19,395,180 9,137,491 $28,532,671  $ --····-·----  10,279.043  $-!,371,', 26 7,114!;,121 $L 1,116,847 $21,992,328 11,288,214 $3&,280,542 $14,697,389 $23,642,826 17,771,241 lj:41,414,007 $3 283,322  ...............  $35,249,406 fl,R98,840 $40,\:14.8,246 $18,132, \ 2R 11,431,622 $;W,563, 748 $70,1>] 1,99-1 $27,957,6c,7 15,504,777 $'13,462, 4;$4 $27,049:500  ·--···-··--·  TOTAL MERCHANDISE AND COIN AND BULLION.  1885.-Exports-Domestic .. _. $75.780,3'!4 $3!'>8,968,297 $699,957,17-l Foreign .. _•.. 33,5R6.771 3,486,303 14,261,909 Total..- ...........•... $7P,266,li27 $173,23 'l,'Z0 o $7a::1,543,945 Imports . ... · ·-· ....... 59,04l,7R1 333, 'l33, 772 628,965,573 Excess of exports over imports $,W,:.:24,!:Soti $.i9,99o,434 $loi,578,a7:& Excess of imports o ver exports .................... 1884.-Exports-Domestic ·--· $&2,93-L,964 $!10,C.70,179 $787,150,296 14,037,362 32,728,12; Fo,~tgn . .... · 1 2,501,274 Total. _____________ , ... $95,436,i;:,8 :tH,2t,to7,541 $~19,87S,42i [mports. ___ ·-· ·--···· · -15,974,282 325,037,%1 672,724,294 Excess of exports over imports $49,461,956 $99,069,690 $147,154,128 Excess of imports over exoorts . . .. __ . . ... . ...... . .... . ..............  -- -···-···-· ------······  The f ollowmg statement has also been issued, showing, by principal customs districts, the values of merchandise imported into, and exported from, the United States during the month of Dec., 1885, and during the twelve months ended with Dec. in both 1885 and 1884; also the total stock of goods remaining in the United States warehouses at the end of the period.  0¥:r~~S.A~~SPORTS.  I  DECEMBER,  l8S5.  ------ Im1r2.=_1 Ex:orts.  IMPORTS. 12 months fnd.ing De., · 31 1:5.  1~4.  I  EXPOltTI". 12 mnn1·h8 endit1,,1 Dec. 31.  l  - -- ---1885.  1884.  Baltimore.Md. 1,817,7115 8,272.981 11,195,695 12,090,261 84,7~8.254 48,4!9,457 Bangor, Me. .. 82,724 .... 70\!,ltil 816,036 188,375 146,2~3 Beaufort, S. C. * 88,682 87,199 39.U28 l,06:&,871\ !,ll,lfl-l 4,311,6:l6 4,486,200 . 53,576,300 59,74i,1165 54,521,579 65,809,297 tiago, Texas. 36.208 78,218 437 92-l 400,640 857,2\!9 1'104.397 Brunswick.Ga. 1.013 90,466 '8:600 781 1,392,895 1.7~7.728 BuffaloCk,N.Y 442,l7<l Sl,920 5.200,758 5,0116,167 1,402,87::J 385,093 Champl'n, N. 'i l-8,81<8 74,074 2,458,886 2,61l5,150 l,44J,861 1,279,9~0 Charlest'ni S.C lOfl,926 1,{106,908 560,236 516,2~ 15,158,61~ 20,888,571 1  :~::g~d~i~~:  ~:~a:i~  The Bureau of Statistics has issued its detailed statement i~t~~fN~icb: ~~:~~ 2sd~~ ~:1~~:!~t a:11~:m 1 of the foreign commerce of the country for I he month of 8~l:!~t•~*!1x aA:~ii 8.631:~~ 1,A1rni1 l ,,At:~J 1~:Jig:~2 1§:g~::tg~ Mich.. 839,019 48~,548 2,82d,8781 2,49-1.686 7,2il8,vR3 10,402,326 December, the twelve months ended with December, and the Huron, Key West. Fla. * 81,877 631.0:18 542,297 195,-184 26::J.695 59,130 58,475 r-87,0-17 680,7.:!8 1,279,834 2,312,\J28 six: months from July 1 to December 81, 1885. These state- Minn's'a,Minn Mobile, Ala... 8,434 H50,8!J8 62,426 25:J,052 l:1,114,457 S,46d,086 m~nts are decidedly interesting as showing the latest returns New Orl'ns,La 418,367 214,678,741 8,949,087 42rn,S2ij,2-14 77,202.889 386,499,H46 of the trade movement for the calendar year 1885, and also :::~:~~ ssi:; for the last six months of that year, since all the tables and g~~~~~-,~~~~y 240:4fiS l,~~~:~~g 2,m:ggg tiii:~~ N. Y.. 430,218 28,<llo 5,479.973 5,970,,S.i 1,447.847 1,504,6\l/i statistics in the preceding article are made for the fiscal year Oswego, Passam'dy,M.f 81,703 22,790 57ts,tt51 6le,05d 416,053 5.!t.029 69,502 195.329 111,208 r-0.89:1 2,222,81:12 2,277,18l ending June 30, to compare with the regular Government Pensacola,Fla. Philadel'a, Pa. 2,72a 25~ 2,8::Jl.059 33,804,756 31,9J0,909 37,332,900 86,819,81:15 44 1 1 statistics of prior years. The calendar year 1885 was peculiar K?:~~~~d~f°a 82,ai,r, ·~ g~:m ·~:;~Ag, u~~:~1~ in respect to its exports of domestic produce, which were Saluria. Tex.. 7,269 357,800 177,7~7 135,527 636,518 3 34 34 1 very disappointing in the last half of the year, and as a conse?J: ·~tg~g ij~~:m •gf~:~SZ ·~:~~~ ~~:&~kffl 1 quence of thi::i, the trade balance in favor of the United States, Vermont, Vt.. 374,IJ95 144,6 2 5,747,7211 5,878,884 1,407.41.13 1,486,848 ~:~~~ 1:i~ui~ that is the excess in value of merchandise exports over I?{~t&":i~·~!: 9.639 311,9l!O 120,4421 7d,805 1,653,007 4,000,298 imports, was only $101.295,050 for the twelve months ending toms districts 12,716,226 8,857,515 7,564,515 10,900,875 Dec. 81, 1885, while it was $164,662,426 for the twelve months a11d ports..... 969,524 891,929 --- - - - ------1----1---(fiscal yrnr) terminating on June 30, 1885. This was a surprise Totals ..... . 51 blf4 453 74,278.830 58i,551,506 629 261,860 688,846,556 749,S:j6,428 "Returns for D ecember not received. to those who had been looking for a large export movement Remaining in warehouse December 31, 1885 ............... $26,600,9~5 from the crops of the summer of 1885, and especially in regud Remn,iuiugiu warehouse Decemb er 31, 188L ... .. . - .. . ... .. 32,205,918   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  !ti;r\:< S5-J~Hzi  n~:ifz  ii:;~g i:t~:Fi ~~:jH!& ::::iH~ ~:&~i:m  ·~~:tr~  ~:~!~a~t  ;u:~~~8i:r~~  ~1i:1R~ ~8!:8~Z  ::=:~l  m:m t~~i:~~t  U~:r~  ~::~:m  T H E M O N E Y M A R K E Ta. Q U OT A T I O NS  l 8 i 8 - l 8 8 5'~  The money market cforing 1885 was not disturbed by aboat $20,00ij,000 in. n.ew legal-tender dollars; and. any irregularities of importance, anci the only striking $39,93 L,957 in subsidiary silver coin, to which must be feature was the -extremely low rate for call loans whid1 added all the gol<i coin which became part of the circu~ prevailed during the entire year. It should. be remem. la.ting medium the moment that legal~tender notes bec,i,me bered tha.t the financial -crisis in 1884 ancl the whole redeemabl-e in gold. depression from l88i to l,885 took place when the mnney : The total increase between .January 1, 1879, and market was glutted, .e,nd the forced -coina.ge of siiver, ex- Noveiµber i, 1885, amounted to about $50'2,000,000. ~eeding $2,0G0,000 per month was stea.dily in progress. Up . Comptroller Cannon gives tb.e following table, estimating to November I, 1885, the total. amount of standard silver . the amount of-coin and currency in the country on Janu. <iollars coined under the a;ctot 1878 was $2l3,259,43l. ary 1, !879, and on November l, l884 and IJ.885-the Tak;ing a historica.i review and lo(}king back to 1 a.nua.ry, - amotmt-s of silver and gold -coin include the bullion in the 1866, the first year after the end of the war, it is observed~ Treasury, and the total figures in 1885 have heen redaced that there were then outstanding $426:231,390 in United •l by $301 000,000 in the amoant of gold to mak-e allowance States legal-tender notes an<l $2 13,239,530 in national for a supposed overestimate 0f tbat ,amount by the bank not-es. Tbe fuU amoant of $300,000,000 in nauonal Director of the Mint in his original estimate for 1879. ~urrency au.thorized by the a.ct of June 3, 1864, was Jan. L, 1879. Yov~ 1. 183'1. Nov. 1. 1885 issued by the -close of 1867. During ttle two years 18-66 - --- - ~--- - - - - - -- --~ G •Id coin and bullion... $278,310,126 $585.6ll,8 7 2 $'186 727,7Q.7 and 18(37, the contraction in legal-tender notes wa.s made Silver coin ........ - ····106,573,803 275,735,439 307,658 827 Legal tender note~-- .•. 3to,61!,0t6 3lfi,i-l81.ol"6 346,681,016 by "Secretary Mc 1 'ullocb. which afterward met with such Na1ional bank notes .•. 323,791,674 333,559,8 l 3 315.8'1·/, 168 ----- -----severe criticism(m.uch of it unjust), but it appears that no Total.. ••.... ..... . ... $1,055,356.61~ :St,5n,5~8,H0 $ ',55 6.~U.798 great and long-continued pressure in the money market The principal acts of Congress relating to the currency1 occurred in the years 1866, 1867 and 1868, and only in and affecting its volume from time to time, were the -exceptional instances were the rates for money higher following: The national bank act of June 3, 1864: aatho1·• than 6@7 per cent. The contraction took: placa in 1866 ized the isslle of $300,000,000 national bank currency, and and 1867, and the extraordmary stringency in the money required banks in redemption mties to keep reserves of 25 market began foue years later-.t.bo:it October, 1871- per cent of deposits and circ11lation, and other banks la • I and continued with little intermission for nearly two per cent; the a.ct of July 12, 1870, authorized the is'sue of I years, till the bubble burst in Sclpt~rnber, 1873. ' $54,000,000 additional circulation.; the act of June 20) After the immediate infiuenee of th-e crisis of 1873 had 1874, abolished reserve on circulation, required 5 per ceni passed away, the rnooey market r-ela.xed, and the ease deposit at Washington to redeem circulation, and a·uthor• which prevai led in New York, with few intermptions ized the withdrawal of bonds on deposit of legal tenders from J anuary I, 1874, ·o January I, 1879, was a. featur; in place tbereof ; the a-ct of January 14, 1875, repealed all q uite unprecedented. Tne construction of railroads in limit to b.:illk circulation, and allthor1zed cancellation of 80 1880-83 far surpassed that of 1870-73 both in the length per cent of greenbacks for new circt1lation issued; also . of road bmlt and the amount of capital in vested, bat th.ere auth.orized purcllase and isst1e of silver in place of fra.c was no similar pressure in the money market, and in this tional currency, and fixed the 1st of January, 1879, for r espect at least, it was evident that th.e times had changed. redemption of greenbacks in coin; the act of Fc:ibruary It is estimated that the amount of ~old and silver in 2 8, 1878, directed the purchase of .silver buB.ion to the circular.ion in 1860 was abour. :S200,000, 000, and the State amount of $3,000,000 to $4,000,000 per month and its bank paper aborrt $207, I 02,4 77. On the lst of January, coinage into legal tender dollars, auder which act the 1879, at t,he da.te of resumpt10n, there was in circulation coinage of $2,000,000 per month has since been carried on :; '686,580,84 l or piper mouey, including fractional cur- the act. of May 3, l878, proh1oited tb.e further retirement rency; $5, 000,000 (estimated) in silver trade dollars; of greenbacks_ sr,\:ri,rn•,r Sl:l)WI:-fG TH& A)IOUN'r OF Sr\_T3. N\1'If)~\L Bi~[{ AND Unl'&D Sl'AT&S NOI'E:3, &C., our.:;TANDING EACH FISCAL YEAR (EN' DING JU.'l'E 30). FROM 1860 TO 1885, INCLUSIVE.  Years.  State Bank Circulation.  US Demand! notes, Aet,ILegal Toodee Banlr July l 7 and ~otes. Circulation. Peb.12, '62 National  One a nd twoyear notes (5 :, in .), Act of Mae e·113,'63.  ~ompound intflrest notes (6 %interestl, Feactional Ac.t March 3, Cunency. '63, andJuue 30,'64.  Total.  A.T  TilE CLOSE OF  Valne of 11aper Value of dolla.r 'in currency in coin, gold. Jmy 1.  ---  $ $ $ $ $ $ $ $ $ 207,102,477 ..... . - ... -- . - .... .. -. . --... - ... -- . -------- ------------- 207,102,477 ·- ···· · ·'"· 202,005,767 202,005,767 ... .. ··••·····----------------· -----·-·····---- ----···· · ······· · ....... -()86.-6 183,792,079 96,620,000 . ....... . ... 333,452,079 . ..... -·-··------- 53,0to,000 ·--238,677,218 0 76.6 3,351,019 297,767,114 89, -79:475 ' .............. 20,192,456 649,867,28:t a·i.2s~/iio 7 80,9!)9 431,178,670 153, 71,450 179,157,717 15,000,000 22.894,877 833,718,994 0 38.7 142,919,634 146,137,8G0 472,603 t32,G97,966 42, 38,710 19;J,756,080 25.005,828 983,318,68~ 0 70.4 19,996,163 281,479,90, 272,162 400,619,206 3, 54,230 159,012,140 27,070,876 891,904,68:j 0 66 4,484, ll2 298,62 ,,379 208,47.2 371,783/197 0 71.7 1, 23,630 122,39-!,480 23,307,523 826,927,153 3,163,771 299,: 62,855 0 70.1 141,7:23 3'i6,000,000 28,161,810 32.626,931 720,412,602 55,492 123,73!) 356,000,000 0 73.5 47,772 2.871,410 32,114,637 693,940.056 ~.558. 74 299,929,62 l 2,222,793 299,766,984 0 85.6 106,256 3~6.000,000 48,272 2,152/H0 39,878,684 700,375,899 96,505 356,000,000 0 89 1,968,058 318,261,241 98,572 768,500 40,582,874 717,875,751 0 87.!'l 1,700,935 337,664,795 88,2'l6 357,500,000 67,522 593,520 40,855,835 7!18,570,903 1,294,470 347,2ti7,061 79,967 356,000,000 479,400 H,799,36f> 750,062,36-, 0 86.4 42,105 7H,n2 332,000,000 1,009,02 1 3,31,981,032 415,210 45,1381,295 78 t ,490,916 0 91 '27,625 786,8-t L 3H,40 ,008 70,107 !-{75,771, 580 0 87.2 367,390 '1·~. l 29,424 773,6<16,728 13,375 0 8!-l.5 66,917 3fHl,772.284-658,938 '332,998,:'l36 3'2S,761 3-1,4-l6,5!-l) 738,376,535 0 -t.70> 521,611 317,048,87:.; 63,962 3.:.9,7ti4,332 0 94.7 95.725 2J6,630 20,:b03,137 698,194,269 62,297 346,681,016 0 99.4 1878 ..... 426,504 324,514,284 oo;485 274,920 16,547,768 688,597,275 1 00 1879 ..... :-l52,4:'i2 329,fi!:ll,ti97 61,470 346,681,016 259,090 b,tll:4,ti05 (jlJ:4,974,515 86.185 1 00 242,590 *7,214,954 699,087.237 1 ~ 80 ... _. 299,790 344,505,427 60,975 346,681,016 82,485 l 00 7,10:'i,953 709,H3,:3S1 1881 . ... . 24'2,967 3 ." ifl,042,675 60,!i3j 3 l6,68l,016 230,250 79,985 7,047,2-t7 713,0(H,09 l 1 00 74,~'15 2'.&0,960 1,_,;.2 --··· 23:i,173 3 58.742.034 59.69:'l 346,681.016 1 00 7,000,690 711,029,564 1R83 _.... l 87,978 3F>6,815,!'il0 58,985 34fi.H8 I ,016 213,620 71,765 6,<lR0,061 61-H,674,379 J 00 18-4 . .... 177,554 339,499,883 f>8,440 3rn .6 81,0l6 69,765 107,660 l 00 6,964,176 672. 703,4 0 I 1~85. 98. l 2H 318,'>31,328 57,950 H-16,681,016 68,075 202,730 * fu 1:380 a!td suo,mq 11eutly the fraotioual cuerency i;i giveu exclusiveof$ i:375,934, the amoLrnt estimatel as lost or de3tr..,yed.  1860 -···1861 ····1862 ..... 1863 ····18ti4 · -·-· 1 865 .... . 1866 ----· 1867 . 1'3(i8 .. ::· 1:!:-9 - .... 18,C, -· ... 1«71 · -·· · 1872 ·- --1 873 ·-··· 1974 ..... 1875 ···· 1876 · ·· ·1877 .....   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  ~  --  $  --------  I  I  · ······· ····· 288,769°,5°00 497,798,338 322,649,246 692,256,354 588,657,092 592,906,769 505,009,23-1 510,050,351 599,521,769 638,909,418 646,249,54(> iJ-lS,053,886 711,156,733 674,619,~41 660,846,999 661,189,973  684,465,691 1692.974,515 699,087,2H7 709,443.381 713,061,0!-ll 711,029 ,564 fl93,ti74.,B79 "' 7 ? ,7(\q_,J(\ •  I  THE MONEY MARKE~  18  QUOTATIONS FOR CALL LOA.SS ANO COMMERCIAL PAPER. The following quotations are compiled from the rates current each week in the New York money market. It is obvious that, there being no definite "posted" rate for money, as at the Bank of En.gland, the figures given are necessarily th& approximate prices current among brok~rs ancl dealers in commercial paper.  l __________1_s_s_2_._--;---- - - - -  1s~s. Week euding FridayJ~?· 4. 11 .... .  ... " 18 " 25 ...... Feb. 1. ..  Prime Pu per.  Call-Loans. 7 @Mp,d. 6 @'1 f>  4 4 8 .....•. 4 " lii ....... 4 22 ........ 4 :\! ch. 1 4 8 . ..... 4 4 " 15 .•. 22 ... 4 29 . . ..... 4 " Anril5 ..... . 6 ,. 12 .. 5 ·• 19. 4 " 26 ....... 4 May 3 ....•. 8  ... ..  ..  ®7  @6 @6  @6  @6 @5 ,'t{, 5 @5  @7 @5 @6 @1-32p. · @7 @6 @6 @5 " 10 . .. .•. 3 @5 <> 17 ... 4 ·• ., 24 . .... 2 @4 2 l(•, 4 31 ....... " June 7. 2 <co 4 14 .. . 2 @3½ 21 ...••• . 2 @3 28 ....... 1 @:-J  .  ..  ...  ·w•kend'g Call Loans. Friday. Jan. 3 .. 4 '@6 " 10. .2 '@4 " 17. . 2 '@31!,i •• 24 .. 112@3 " 31. .1121JJ3 l'eb. 7 . . 2 '@3 " 14. .1¼@7 " 21. .112'@4 " 28. .112@4 Koh. 7. 2 @5 " 14. . 2 '@5 " 21. . 3 @7 " ~8. . 5 ·@7 & 1 32 p.d. April 4. . 4 '@7 " 11. . 4 1JJ1 ., 18. . 13 @5 " 25. . 3 '@5 May 2. . 2 '@4 .. I:) . 2 '@4 . 2 1JJ1 " 23. .2¼,'@4 .. . 30. . 2 '@7 June 6. . 212'@6 •• 13. . 2 'a/cl " 20. . 2 @4 " 27. . 2 '@4 J'ul;r 4 .. 2 J-2 @6  .. 1r  Week e . din~ FridayCall Loans. July 5 . ..... l @ 2,¾ 12 ..... .. 1 @2 ~ 1 @2½ " 19 ... 1 @2½ 26 ..... Aug 2 .... . . 1 @2½  ..  5 @7 1) @7 5 @6½ 5 @ 6¾ 5 @6¾ 5 1u,fi¾ fi 5 41/s @ 5  4¾ 1, 4¼@ 4½® 4½ @ 4½@  . " "..  1 @ 2½ :1 @2½ 1 @3 ] @ 2¥ " 30 .. 1 @2¾ Sl'pt. o... l¾ I} 3 " 13 .. lJ,.@3 2J " 21 2 (<'> 4 ..• " 3 @5 Oct. 4 .. ,. 11. ... :: 4 ®7 4 @7 lEI .•• " 25 ...... 4 @6 Nov. 1. ...... 4 @6 ·• 8 ... 4 @5 3 @4 " 15 . . . 22 ...... a @5 2½(,t 4 " 29 ... D€'C. ti .. 2½@6 ,3 2½~ ., 20 . .. : :: :-1 @74 ,. 27 .. . . 4 @ Ii  li  6 6 5¾ 5'1 -l½@ 6 5 u;o 6 5 @6 5 @I, 5½ 5 @ 5¾ 4 @ 5J., 1 @5½ ~.1( @5 3¾@ 4½ 3½ 11 4J.; 3½1%> 4½ 3½ @ 4 :i @4  Prime Paper. 412@5½ 4 @512 4, @5 312@4½ 312'@4 3 'ii>4½ 3 '@412 3 @412 312'@4 12 4 '<ll5 4 '@5 412'@6 6 6 @7 6 1JJ1 !5 '@512 4 '@5 4 @5 4 W5 4 '@5 4 @4 12 -! '@5 3½'@5 3½@5 4 '@5 31211>4½ 3~@}\  11,.:: ::: 21. ...... 9  ....  .,  ..  ..  W'kend'g Friday. July 11.. " 18 .. " 25 .. A~~g. 1. . 8 .. " 15 .. .. " 22 " 29 .. Sept. 5 .. •• 12 .. .. " 19 " ~6 .. Oct. 3 .. .. ,, 10 17 . . " 24 .. " 31 . . Nov. 7 .. " 14 .. " 21.. " 28 .. Dec. 5 ..  ..  . " " "  Call Loan«. 2 '@4 212@312 112a>3 112'@3 2 '@5 3 @7 & 110 p. d. 4 @7 4 11)1 & 1 32p.d. 5 @6 5 '@6 4 @6 5 '@7 6 1iJ7 & 3 16 p.d. 4 1JJ1 5 1JJ7 & ¼ p.d. 5 @7 & ¼ p.d. 5 1v7 & 14 p. d. 6 n7 & 3a p.d. 5 '@7 & 1s p. d. 4 1iJ7 & 3a p.d. 4 W7 4 1JJ1 @,7 19 .. 4 '@7 26 .. 4 @7 & 132 p. d. 31 .. 5 @7 & 116 p. d.  12r  Prime Paper. ; ½\W 4 3¾@ 4 3 @4 3 @4  3 @4 3 @4 3 @4 4 <d, L 3½@ 4 4 @5 4 @5 4 @5 4 @6 4¾@6 4½@ 6 5 @ 6 5 @6 5 @6  5 @6 4,½@ Ii 4½~ 5~ 4 (i(, 5¾ 4 @5¼ 4 @5½ 5 (rt,. 6 4~@ 6-  J:'rimi, Call Loans. Paper. @6 & 116P· d. 5121iH:i12 '@6 & l3zp. d. 5 116 @6 5 @6 @6 5 '@5½ @6 5 '@5 12 5 '@512 '@6 5 @512 1i>6 5 1JJ512 1JJ6 '@(j 5 '@6 1JJ6 & 116 p. d. 5 '@6 @6 & 132 p. d. 5 1JJ6 'iv6 & 1 16P• d. 5 1i>6 @ti & 1 16 p. d. 5 1JJ6 @6 & l~p. d. 5 '@6 @6 & Jl. d. 5 1JJ6 .>i, @6 & 116 p. d. 5 @6 " 23 .. 3 @6 & 116 p. d. 5 '@6 5 11'6 " aa .. 3 '@6 5 @6 May 7 .. 3 @6 5 @512 ~6 " 14 .. 3 . 212@5 5 @512 " 21. 11Jf., 4¼@5 28 .. 2 " 4¼'@5 June 4 .. 2 @5 @4 4¼@5 11.. 2 " 18 .. 2 @4 4 'al412 "., 25 .. 2 @3 4 1JJ5  ,.  ..  " 16: .  -  Wkend'g Call Loans. Friday. Jan. 7 .. 4 1JJ6 " 14 .. 4 '@6 " il.. 4 '@6 " 28 .. 3½J'izi5 Feb. 4 .. 3 1i>6 " 11.. 3 '@6 " 18 .. 3 '&6 " 25 .. 3 a>6 & 1 p. • l\fch. 4 .. 5 @6 & 14 p. •. 11 . _ ,, "ii,6 " 18 .. -! @6 & 16~P• " 25 .. 4 ~6 AP,,ril 1.. 4 'u>6 & 116 p. 8 .. 3 -a>B '' 15 .. 3¼'alG •• 22 .. 3 '@6 ~9 3 '@5 Idaf 6: : 3 @6 " lf . 2 @4 " 2u .. 2 @4 " 27 .. 2 'w4 June 3 .. 2 @4 " 10 .. 2 @4 " 17 .. 2 'iil 6 " 24 .. 2 113¼ July 1. . 2 @4   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  I  W'kend'g Friday. J~}Y 2 •. 9 .. .. " :r6 23 .. " 30 .. " Aug. 6 .. " 13 .. .. " 20 27 .. " Sept. 3 .. " 10 .. .. " 17 24 .. " Oct. 1.. 8 .. .. " 15 .. " 22 29 .. " Nov. 5 .. 12 " 19 ... . " " 26 .. Dec. 3 .. 10 .. 11 .. 24 .. " 31.. "  ..  ....  I'rime Wk eud'g Pape1·. Friday.  Jan. 6 .. 3 @6 & ~ p. d. 6 'a>G ¼ •• 13 . . 2 'il/6 5¼1t6 •• '20 .. 2 11,6 5 @5½ " 27 .. 2 11,5 5 @512 Fel>. 3 .. i '@fi 5 @& •· 10 .. 2 @6 5' @Y½ " 11 .. 2 '@6&:l:iz p.<'i.:5½@6 '' 2 ,L . 2½@6& ia p.d. 512a>6 Mch. ::i .. 2-½l'a>6&1cwl1eP•d 5¼1i>6 " 10 • • 3 @6 5-½)@6 " 17. :l @fj 5 'a) 6 " 24 . . 212·@6 5¼1i>6 " 31.. :~ '@6 5 @6 April '7 . • -! 1JJ6 & i.,.z p.d. 5 w6 ' •• 14 .. '.:1°2'@6 5 @5½ " Zl.. 2 @5 4½1li5 " 2·L. 2 11'5 4½a>.:5 May 5 . . 2 @4 4L;iw5 " 12 .. ·J w.1. 4 -tt5½ -1.¼@5 " 19 .. 2 '@-t " 2n .. 2 a>-1 5 1v5½ June Z •. 2 11>4 4¼1JJ5 " 9 .. 2 -@4 4¼'@512 '' lH .. 2 @312 5 1i>.. " 23 .. 2 @4 5 1li512 5 @j.lz " 30 .. 2 @9  1::h.~ 3-····::  1L::::::  Call Loans..  PrimE, Paper. -!12'@5 -l¼al5 4 '@5 4 '@5 5 '@5!g  July 7 .. 112-W 4 " 14 .. 2 'ilJ 4 " 21.. 2 'iiJ 312 •• 2-:L. 2 @ 5Ang. 4 .. 2' @ 4 " 11.. Z 'a> 4 · " 18 .. ~lz@ 7 " 25 .. 2 1i> 7 Sept. L. 3 1b G " 8 . 4 @10 " 15. . ! @ 8 " 2~ •. -t 1JJ g. .. 29 .. 5 @20 Oct. 6 .. 5 '<i>20 ., 13 .. 1 a> 7 •• 20 .. 1 ·a, 6 •• ~7 .. 1 ct 6 ~ov. 3 .. ~ @!.2 ·• rn .. -1 @25•• 17 .. :J 1il 7 " 24 .. l @30 Dec. 1.. ::J 'tlllO " 8 .. 3 @ 6 " 15. 1 @ 6 .. 22 .. l a> 6 " 29 .. 1 '@ 8  5 @6 5¼1P6 :'1½'@6  5 1 2'a>o~ 6 '(})6½ 6- 1i>G¼ 6 @7 7 '@9' 7 'al8· & @7 6 @7 6 '@f-i½ 6 '@7 6 @7 6 'aJ7 6 1!)7 6 '@7 6 @6¼ 5~@6 5¼d>6 512'a>6  Prime Week ending Call Paper. Friday. Lo::ius. 5.lz'al6 July n.. ...... 1½1JJ 3 512@6 ·• 13 ... .... . l½a> 3 5 @<> ., 211 ...•..•. 1".1JJ 35 05~ " 27 ..•..... 1 @ 21g 5 1t512 ~½I 5 '@512 A~~g·1L~:·::: 5 @5½ " 17..... .. l¼ii, 6 5 'a)."\L;i " Z4.... .. 112@ 3 •f 31........ 1½'@ 3 5¼a>o 6 al612 Sept. 7 .... . ... 2 @ ~ H 1v7 .• 14 ........ 2 1/J :'.\ 0 6 1JJ1 21. ...... . 112 @ 3 6 '<il6½ " 28 ........ 2 1iJ 3 6 11,61:, Oct. 5..... ... 112'@ 4 5½'@6 •• 12 ........ 1½11> 212 5¼1i>8 " 19 ........ 1½'@ 4. 5 @6 " 20 .... .... 1½·@ 4½ 5 ~6 Nov. • .. .. .... z •m 4. 5 @6 " !L... . . 1 1JJ 3 5 '@6 " lfi . ...... 1 1JJ 3 4L;inrl " 23....... J lq1i) 2½ 4 '@ 6 " : 0 ........ l¼m 212 4 'iz,5½ Dec. 7....... 1 @ 5 l 1i>512 '' 14 ....... . 1 'iil 3 4 '@512 " ~l.. ..... . 1 @ 3 4 @5½, •• ~8....... l 'ii> ::$  i~:  JSJ§.f. Call Loans. 2 '@4 2 '@3 2 1JJ3 2 '@3 2 ·@3 112'@3 112iil4 l¼'til3 2 ·@3¼ 2 1JJ5 2 @3 2 '@3 2 '@3 2 W3 2 @3 2 tc,3 212'@4 :.!½'@4 3 '@5 3 @5 4 @6 & 1 32 p. 5 @6 & 1 1sP, 6 1i>6 & 3sp. 5 -@6 & : 1 " p. e @6 & 1 16 p. 5 @6 4 ·@6  Prime Paper. 4 @5 4 '@5 4 ~5 312·@5 4 @5 4 @5 412@5111 5 'd5~ 5 1JJ5lg 5 'til5¼ 5 @51.g 5 '@51.g 5 1JJ5¼ 5 @512 5 '@5lg 5 '@519 5 1t5lg 4¼'@5 5 @5¼ 5 '@6 d. 5 @5¼ d. 5 @6 d. 6 d. 6 ·dl 6½! d. 6 ·@612 512·a6¼ 5 '2 ·~  ISSt.  Primi, Paper. 5 '@5½ 5 @512 5 1i>5¼ 5 '@512 5 @5 1~ 5 'a'6 5 @6 d. 5 1JJ:\12 d. 5 '@ti l5¼a>6 d. 5 -@6 5 1JJ6 d. a a>6 5 1i>6 5 'iv512 5 -a:512 4.12'@5 4 @5 4 'iz,4¼ 31211>4¼ 3¼1i>4 3 ·@4 3 @4 3 -@4 3 1JJ4 3 @4  Call Loans.  Prime PaRJ, Ween:ending Call 312@4 312@J12 Jan~r~~~:.'.. .. 3 Loans. c1)l2 3 @4 lg •• 12 ....... . 2 1JJ 6 3 '<il4 ~ 2 'a 6 " 19 ....... . 4 @5 " ~6 ..•.... . 2 1i> 5 5 '@6 fe!}. 2 ....... . 2 1iJ 5 5 '@6 ., !l. ..... . ~ 'a) 5 6 '@7 " 1n .. . .... . 2 ·al 5 512'@6 Z @ 5 5 '@ 6 12 8 ii) !-} 5 'alti lg •. 9 ... . . . :1 '@15 5 '@6 ½ " 16 ...... . 5 'al l 7 5121v6 -¼I '· 2a .. .... .. 5 ·al25 5 '@ 6 12 " 3 0 . . .... . 4 '@1~ 5 '@7 April 6 4 -a>20 512'@6 ~ 4 '@ 7 13 .... . . . .. 512'@6 ,, 20 .. . .. . . 3121JJ 6 (j '@7 •. 27- .... . @ 6 6 a-6 ~ }I y-! ..... . :l WlO 6 '@ti .. 11 ...... .. 212'@ 5 512'@6 12 " 18 ....... . 2 1JJ 4 fi½t1ii6 ¼ " 25 ....... . 1 'ilJ 3½1 512'@6 1s June 1 1 @ 312 5½1JJ6 ] '@ 3 5½;'@6 ¼ :: 1 1il 3 512'@6 ½i ., 22 ....... . 1 @ 3 " ~9 .. .... . 1 @ 3  ISSO. Wkend'g Friday. ·Jan. 2 . . 5 9 .. 4. .. 3 " 16 23 .. 4 30 .. 3 " Feb. 6 . . 3 .. 4 " 13 " 20 .. 3 " 27 .. 3 Mch. 5 .. 4 " 12 .. 4 19 .. 4 " 26 ,4 " ..A.pril 2 . 4 9 4 "  Wk end•g Friday.  Wkend'gCall Loans. Prime Friday. Paper. July 8 .. 2¼'al6 4 @4½ " 15 . 2¼a>4 4 '@412 " 22 .. 2 -a,4 3 @41,, " :!9 .. 2¼a> I 3 @4½ Aug. 5 .. 2 "7! ·4 ;~ 1i'4lg •• 12. 2 '1zi312 -1 @5 " 19 .. 2½a>6 & 3 16 p. cl. 5 a>v " ~6 .. 5 @6 & Im i• d . 5 @fj Sept. 2 .. 5 @6 & 110 p . cl. t> 1i>v .. 9 .. 4 -a>6 5 '@6 ·• 16 . 4 1JJ6 5¼'@6 " 23 .. 4 ·a,6 5121JJ6 " 30 .. 5 1t6 & llf p. d. 5¼alli Oct. 7 .. 5 a>6 & 1s p. d 6 @G¼ ·• 14 . . 4. @6 & 116 p. d 6 @612 •• 21 3 '@6 6 @612 " 28 .. 4 'a 6 6 'a>6½ Nov. 4 .. 3 @6 6 a>6¼ " 11.. 3¼a>6 6 @612 " 18 .. 3-½<11>6 6 @612 " 25 .. :JL;ia>6 & 132 p. d. 6 ·a,612 Dec. 2 .. 3¼ct6 & 116 p. ct. 6 a>6¼ " 9 .. 312@6 & 1s p. d. 6 '<i>6½ •• 16 .. 3½tt6 & 116 p. d. 6 a-6¼ " 23 .. 3 @t.i&l16P d. f: @6~ 30 .. 21211!6 & l1e p. d. 6 @61.g  'A -.-e-e_K_e_n_d-in_g _ _--:::C::-a-=cll:----,,P::-r..,-im-e-:-:--:-W-:-:-ee-ck:--en-di°"'•=-n-g---,C::-a-;l-;-1-~ Prme Friday. Loans. Paper. Friday. Loans. Paper. Jan. 4 (3 d'ys) 1 @ 3 5 1JJ6 July 1 1.. •• . . . . 1 @ 21g 5¼ ·a l6 ½I •• l l........ 1 @ 212 4 @6 " 18........ 1. @2 lg 512il'bl:1 " 18........ 1 'ft 212 1 '@5¼ " 25 .. •••••· 12'@ 2 5¼@6¾ " 25.... . . .. 1 @ 212 4 @5~ Aug. 1........ ¼@ 2½! !> ¼@6¾ Feb. 1.. . ... .. 112@ 3 4 'fl/512 " 8.. . . . . . . 1 '@ 2 5 @6 " 8.... . ... 1 t@ 212 4 @512 " li'l.... .... 12@ 2 5 @6 " 15.. ...... 1 @ 2¼ 4 '@51£ " 22.. ... . .. l ·a> 3 5 '@fI " 22........ l 12@ 2¼ 4 '@512 " ~9..... ... 1 1i> 3¼ 5 '@6 •• 29. ...... 112@ 212 4 '@5¼ Sept. 5........ 1 1JJ 2 5 @6 Moh. 7.... .. . l '@ 2 4 a>514 '' 12.. ...... 1 '1JJ 3 5 '@6 4 a>514 " 19........ 1 a> 2 5 1JJ6 " lL. .. . . .. 1 •@ 2 " 21.. .. . . . . 112·@ 212 4 '@514 " 2ti.. .. . .. . 1 1iJ 3 5 '@6 " 28 ........ 11.r@ 1 ½1 4 @514 Oct. 3 ........ 1 1JJ 3 5 @6 April¾. ... .. l¼'<il 212 4 @ 5~ " JO........ 1 1JJ 3 5 ~~ •• 11.. . . . . . ·l ½'al 2 4 1il 5 ,, " 17.. . . . . . . 1 '@ 2 5 w v ., J 8. . . . . . . : 121lJ 2 ,1 '@5 12 " 24 . ...... . 1 1il 3 5 -ri 6 2 3 12 ~: : :::::: N~v. l : " 9........ l ½@ 6 4 @fl½ " 1-1........ ¼1i> 2 412 @6 " 21..... .. }q@ 119 4¼@5lg " 16 ...... l½'al 5* ·l @512 " 2 'L ...... l '@ 6t 4 '06 " 28........ ¼·@ 212 4L;i1iJ512 3 J~~e ½ D~.c·1L:: : :: . l 112! " 1 1. . ... ... 1 1JJ 3 512'alf> " 19..... .. . 1 '@ l¼ , 12 i7J5 12 " '.!II. . .. . . . 1 '@ 3 :')¼@6 " 26.. .. ... 1 @ llg -112@512 " 27 ... . .... 1 ·@18 5121iJH " 31 (4dys) 1 1iJJ 11g 419~512 July 1. . ...... 1 1iJ 6 5lg1})(l 1 .- - - - - - - - - .. A.nct:'fiicr clil'm - . - - - - f Aud½ 11er diem.  ~~! ~~ ~  M::;Y  g ::::::  !  ~  :~~I  i g :i  L:: ... ,  g~::  3 1~!g~  lSSo.  I  WeelI ending Call Prime WeelI ending Uall Pr,mti Friday. _Loan~ Paper. _Friday._ ~~~ Paper.  J~p-1L:::::: .. 23 ••.•.... " 30 ..... ••. Feb. 6 ....... . •• 13 ....... . " 20 .. .... .. " 27 .....••. Mch. 6 ...... . " 13 .. . ..... · " 20 ....... . " 27 ....... . April 3 .... .. " 10 ...... . " J 7 ...... . " 24 ....... . May 1. ...... .  ::" 1L:::::: 22 ....... . " 29 ....... . June 5 . ... . . . " 12 ....... . " 19 .. ······ " 26 ....... . July 3 ...•....  ¼@ 112 4½1i>5½ July 10.. ...... lg'@ 2 4 1i>512 " 17........ -rt 2 4 @5 I .. 21.... .... 12@ 112 4 1i5 I " 31..... ... Aug. 7.. ..... . lg@ 112 4 1i5 ¼@ 2 4 @5 " 14.... ... 4 @5 " 21... .. .. 1 ·@ 2 4 @5 " 28.. .. . .. l 'aJ 3 1 @ 2 4. '@5 Sept. 4........ I '@ 2 4 @5 " 11........ ¼ ·al 119 4 'al5 " lfl........ ¼al 2 4 '@5 " 2fi.... .... Oct. 2....... . ½@ 2 3¼'<il5 ¼'w 112 3¼a4¼ ·• ~--······ 12'a> 319 3¼a>4¼1 •. 16.. .. . .. i 'al 112 3¼'1i>412 " 23 ........ 1 1n 112 3½a>t •· ao.... 1 ·@ 112 3-½'iz,4 INov. 6.... .... 12@ 112 3½@-l •. 1:l .. .... 12? 4 ,_ 314'@4 .. 20.... ... 1 w 1 ..., 3¼1tl " 27........ 1@ 2- 314 @1 !Dec. 4 ....... 12@ J ¼ 314'@4 " 11.. .. . ... 12'@ 112 :i '@4 " 18.. .. .. . 1 '@ l 12 3 '@1 " 2!'!....... 1 a> 2 3 1i> t " 31.. ... . 1  1  1  1iJ 2 ~'(ii J¼ 12@ 2 1 1i) 2 1 1i! 2 l '@ 2 l "@ 2 1 '1JJ 2 l 1il 1 ¼ l 1JJ 112 1 a> 119 1 1iJ 3 l 'iiJ ll 1 @ 3 1 'a) 2 I½@ 3 112-@ 4 1 @1 0 1 lg'@ 31g 2 ,-~ 1 ,o2 1JJ 3 1 'ill 3 1½@ -219 l ½J'@ 6 2 '@ 5  l  3 @4 .!:\t.11414 234@414 ~34@414 2~ a>412 2:\1@~12 3 @412 3 @4¼ 3 1iJ4¼ 3 @!½ 3 'izl419 3 1i>4½ 3 1v4¼ :l @4½ 3 'iilt¼ -t u4lg 4 @412 4. 1iJ412 4 @5 4 :~ 4 4 w5 4 @5 4 'iJ) /) 4 @5 4 @:'S  MOVEMENTS OF GOLD AND SILVER. UN I TE D  STA T E S  AND  EUR O PE.  GOLD AND SILVER PRODUCTION. through the arrangement existing between the States The growing importance of the questions relating to the in the Latin Union. Such a re-adjustment can, precious metals gives to all foots which throw Hgh.t upon • however, be secU'I.·ed only approximately, on actheir production, distribution and uses constantly in.creas- . count of the impossi bility of determining what proing interest. Our Mint Bureau, through ]Jr. Burchard's por tion of these returns represent exact market values, administr ation, bas shown great industry in furnishing and what do not. But if we estimate the difference, say statistical statements on all doubtful points, bat its methods 12 per cent of the whole, for 1883 and 1884:, when the have seemed to us defective, and consequently many of' price of silver averaged at about the same figures (50 9· 16d. its results (especially those representing the yield and for 188-3 and 50id. for 1884), and say 15 per cent for 1885 stock in the United States) were unreliable. The first of the (when silver averaged about 48.g-d.). we shall not probably year brings us as usual Mr. Valentine's statements of pro- be far astray. Repeating, then, in the following table, Mr.. duction. These, in the past, the trade has generally Valentine's returns for gold and silver production for the accepted as a pretty accurate representation of the facts three years named, as given above, we add (1) for gold a they cover, and we make them the basis of our eompila• column which also includes the production of States other lations now. His results for the la.st four years stated in than those covered by his compilation, so as to present brief are as follows. the gold production for the whole United States, and (2) I fot silver a column which covers Mr. Valentine's · figures, Product, Product, The Net Products of the States and Terril cluJing I deductin1t torieS- ~est of the Missouri River, ex.elusive increased in the above percentages; in this way is shown Calendar am'ts from British Col- of British Col11mbia. aod West Coast of Year. British Col- umbiaa.nd Mexico. quite nearly the actual and relative yield of the two metals umbia a.a d I Mexico. during ~he years named. ___ ,_ M_en_·_co_._____ _ _!,_ea_d_._ __c_op_p_er_._ __S_il_v_er_.___ G_ol_d_._ __ ____ _ _____________ _ __ __  I  1  1  1  1882 ... . .. $92,411,835 $89,1!07, 540 $8,008,155 $4,\J55,037 £48,183,0Sf:I $2A,Oll ,8J!s 1883 .. .. .• 90,313,1312 1' 84,639,212 8,163,550 5,61,3,921 42,975,101 27,816,640 1884.... .. 84,975,954 8 l ,6l3,835 6,834,09! 6,0.'.16,252 43,520,925 25,183,567 1885.. . 90,181,200 87,311,882 8,502,991 7,838,036 44,516,599 2lS,893,756  Valentine's Figures. Gold. Silver.  Mr.  Yeal'!l.  I  1883 . ...... ·--· ..... ...  $27,816,640  $42,975,101  1884  25 183 567 • • 20 398 756 • • $79,398,968  43 529 925 • , 44 516 599 • • $131,021,625  U . s.  A<"tual ProdU'ctlon. Gold. Silver.  $28,401,640  '48,132,113  48,753,516 The gross amounts for the same years-that is, the total 1 · · · · · · · •• · · · · · · • · · 26 905 756 51 194 089 product, including British Columbia and west coast of IS..'ffi ••• •• •••••••·• ·· •· • • • , $81,002,968 $148,079,718 . Total.. ....... ... Mexico-Mr. V alentine divides a.s below between gold, of The foregoiug ind1c1:1.tes a stlver prod iction in 1885 silver, etc. $51,194,089, or an increase over last year of $2,440,573. 1885. 1884. 1888. 1ss2. Its distribution has been a net export of about 14 million _ _ _ _ __ _ P_._c. Product. P. c. Product.. P. c. Product. P. C. Product. dollars (December estimated), a coinage of 29 millions, 1 $ $ $ $ leaving for home consumption 8 millions. This producGold... .. ..... .... S0·26 27,200,294 so·oo 2tl,256,542 82·86 29,260,492 82·67 80,193,855 suver .. ... ..... ... a1·55 46,489,989 53-90 45,799,069 52·30 47,229,649 54-27 50,155.288 tion is perhaps a. little surprising m view of the lower Copper.. ... ....... s·oo 7,838,086 7•1{1 6086,252 6·801 5,688,9211 4·89 4,055,087 1 1· st1.ll 1t. 1s. to be remembered t h at t h e L onLead... .......... 9•00 8,562,991 s·o4 6,834,091 9·04 s,168,550 8 ·67 s,oos,155 V'& ue ru mg. Total. .. .. . ... . 100> oo.isi:iio Too- 84,9ii4 uio- 9o,818,6l2 Too- oi4~ don quotation did not get below 49d. per ounce (except PRODUCTION OF GOLD AND SILVER IN THE UNITED STATES. twice and then very temporarily) until August 20, so that The feature which will perhaps chiefly attract attention the effect of the lowest rates in contracting production is in the foregoing, is the larger product of silver compared not shown at all as yet. with the previous year, notwithstanding the lower price As to gold, Mr. Valentine's report, it will be noticed, of bullion. In fact, the yield has gone up ,as the makes the total yield slightly better than last year, being, value has gone down-and even in greater proportion than with the addition made above for States which his figures is shown above. Perhaps it is not generally unJerstood do not cover, $26,905,756 in 1885, against $25, 695,567 in that Mr. Valentine's silver totals represent in large part 1884. Of course Mr. Burchard's total would be larger market values, or the valuation put upon consignments for than Mr. Valentine's for 1885, having been 30,000,000 transportation ; and hence his results for silver (the in 1883 and $30,800,000 in 1884. We have studied over market value having been declining all the time) must be his 1884 report with much care, and although he gives a. increased in each year by a .percentage which represents mass of details they are so detached and incomplete that the loss in price. Mr. Burchard makes th~ unit of com- we can find nothing but his own estimates to support his · parison our standard dollar, and raises all his figures larger conclusions. CONSUMPTION OF GOLD AND SILVER. accordingly, and then works back from dollars to kilograms, on the basis of $41 57 to each kilogram. To bring Of the use in the United States in the arts and manuMr. Valentine's figures to a common basis: we would have factures of gold and silver, there are no new returns of an to raise them for each year (so far as they are expressed official nature since Mr. Burchard's results obtained for in market values) by the difference between the average 1883. We remarked upon his investigation in that price of silver for the year, ancl, say, 60½d. per ounce, important department of our subject last year, expressing which would make the basis or unit correspond very nearly great satisfaction for the valuable contribution to the with the ratio of the world ( 15½ to I) so long sustained, world's knowledge thus made. Of course we ~nhesi-   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  25,695 ,567  20  MO VEM.ENTS OF r7OLIJ AND SIL VER.  tatingly accepted his resialts just as they were stated in according to circumstances, wholly disconnected with the folJowing, wb1eh is an ntraet taken frcm his report consumption. We thimkr howeverr that Mr. :Burcbard's investigations and the above result as ' to silver are on the subject. The itaHes are our own. •• For the purpose of obtaining morr completf' information in regard to sufficient to prove that if the other third of the Director's ,.. tbe me of the pr< eiom, metals in tbe arts and ornamentation, circular letters bad been answered the use of gold in the arts and  ... letters to tbe numl1er of 7,9f9 were again i:eut to aU persor,s and •• firms il1 tbe UJ1iteu states. whose adarcss coi,ld bt oblained, reported "to be using ard eonrnmin/! 111e pnciuus n etals for ind1:et1fal puruposefl. To tbei;:e letters 5,418 replies were rect>ivHl, wbkb !'b«,wed .. tlle c« nsumJ,tion by 2,734persons and flrn:s engaged in the manufac·• turing or tbe repair of art:rcles 1,f ornamentation anti use m' nearly .. $!4,50(),000 wortb of gold and o"\l'er $5,500,uoo worth of silver. a " total ()f over a,20.< 00,000. 'J bi1- is an increase of $7,0< 0.000 over that "reportt-d in 1882, wben, however, less than half as many persons and  manufactures would have been found to average (besides the oid jewelry, plate1 &c., melted) over ] f> mi}]ion dollars annually-the_ figures we used in our review & year ago • Un this suhi'.ect of old plate· we are a little surprised "  that Mr. Burchard should say ''that the mint at Philade) . ... flrm 5 reported.'' ~, phia and the assay office at New York show the use of · It will be noticed that the Dlrector says in the fore- ,. $l,882r600 of old jewelry, plate1 &c. (goldi which, degoing-(1) that he sent out 7,969 letters to ueers of these , 1-1 ducted from the \ total consumpti:onr wonld leave the meta.ls and received only 5,418 replies, or say only two• "amount of coin a.nd new 1bullion consumed in the arts and thirds of the firms addressed replied ;, (2) that the two- ,~ manufactures about $ 12,500:,000. n This statement sur1h:irds tl:rns replying showed a consumption of 14½ millions · prises us1 because in his details of consumption received of gold and 5½ millions sHvn; (3) that on a similar inquiry from manufaciurers, and which we republished in full las t'> made in l 882 when ,qess than half as many" reported •year,. he gave $868,119 as covering the item of old plate, he found over 7 millions less gold consumed. From these &c. Why should he this year rf'jeet that part of thoEe fact:- we did not then and do not now see tbat any returns al'ld deduct over a million dollars more on that. conclusion cGuld be reached other than that we did ' account? If his investjgation in 188B was good fo:r anything reach , w hieh was that several millions ought to be added it was good as a whole, for if it is false in part we should to the Director's last results to include those firms (one- have to say false altogether. Is not the obvious :rnterpreihird of the whole number addressed) who did not• tation of this new discovery in the use of old plate &c. respond. We notice, howeverr that Mr. Burchard in his simply this,-that it js an additional amountr which, if he last report, recently issued, without making any further bad received answers to the other third of his letters1 investigation or getting any replies from this silent third, would have been fully explained? In other words, is it loosely assumes that his total given included all. No one not further proof that his total for 1883 was an underlias any interest in this question except to get at the estimate? truth, and the regret will be general tbat be snbstitrted M'OC'K OF GOLD rn- THE UNITED STATES. bis own opinion on this very important point for further With the help- of the foregoing, it is easy to determine investigation. with considerable accuracy the stock of gold in the We regret this the more because the Government trade United States if Government statistics of imports and figures 1 at least as to silver, put it bey•ond question that exports are to be depended upon. Certainly if they are Mr. Burchard must have been right in the conclusions not reliable they vitiate all sucb statements, and Mr. I authorized from his investigations for 1883r and wrong in Burchard's especially, since he uses them to find out the his "guess" for 1884 ; that is, these trade figures as to movements of coin, a detail which requires the utmost silver prove that bis replies from two•thirds of the firms accuracyr not only in the totals but in the description of addressed did not cover the entire consumption. For the import and export, in which particular we have fre• illustration, take Mr. Burchard's estimate of the produc- quently proved the invoices at this port to be inaction of silver since 18801 and its distributioD since curate. then. Production of silver, 1880·1885 (Mint estimates, except 1885), botb years inclusive .................... -···-· · ··-· if 275 ,194, 089 Exports of silver, 1880-1885 ....... .. ..... $134,732,186 Imports of silver, 1880-le85 ..... . . , .. .... 76,483,180 Net e:xport·-···-·· ····· ·-······ --· ·-···· $58,248,997 Total silver coinage......... .... ......... •-· 169,833,610 Total e:xoported and coined .......... . ..... -····-····-·-·····  228,082,607  Leavingtotalmanufaotill'ed.- ....... ... ·····--··-- · .... H7,lll,482  * v. e llave to takl:' fiscal years for coinage, as we have not tbe :figures for culend., r yearP, but tbe result is rnbstantially tbe same. W- Tbe coinage item would have been 11 llont a million dollars Iese (iucreasing 1 o tbe same extent tbe final total to be acc< unted for) bad we not included all tbe fractional coinage at i1 s face value.  As the Treasury holdings of silver bullion (which in• eludes the Mint, of course,) were $4,492,421 on January l, 1880, and $3,797,041 on January 1, 1886, and as there is every reason for believing that the people are carrying no more silver bullion now than in 1880, the conclusion is irresistible that manufacturers are taking, say, 8 million dollars of silver every year for their purposes. About the same result is reached 1f we use for illustration the figures for any three years of the period, showing that the drain is constant and not due to a special or inconstant cause. As to the gold consumption, it is impossible to gain any information in a similar way, because gold bullion is currency as well as gold coin (even better ior intern a• tional purposes), and therefore its accumulation is no evidence of use, the accumulattion being greater or less   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  To indicate the present gold holdings of the United States, we start our inquiry witp the stock of gold on hand July 1, 1878, that being six months before specie payments were established. At that date the Treasury held of gold (less gold certificates) $103,562,000, and the banks, including certificates1 held of gold and silver only 30½ :cillions ; hence both together did not have over 125 millions of gold, while for the reasons stated a year ago there could have b.een very little in the hands of the people. We had just been through a period of inflation and very high gold premium, under the inflnence of which all hoards of gold would be brought into sjght and find a market. Furthermore the resumption of gold payments was by law fixed for the first of the following January, and under the influence of that assurance the premium was seen to be grad. ually lessening, every one ful~y understanding that gold was certain to be at par soon, thus affording the strongest inducement for holders to sell their stock. Besides, banks then kept special gold deposits, so that one desiring to retain gold in any considerable amounts would naturally make them the custodian-for the owner was thus_saved both risk and expense. It cannot therefore be presumed that the people held gold outside of bank in any considerable amount. If we should put the total at 25 millions so held it would seem to be ample to cover all possible hoards hid away in private corners. Or, as we desire to err on the  MOVEMENTS OF GOLD AND SILVER. liberal side, let us call it 50 millions, which would give us a stock of say 175 millions on the first of July, 1878. Starting, then, with t.his stock, and calling the consump. tion 15 millions annually since that date, and using Mr. Valentine's figures of production after adding an average of four hundred thousand doilars a year for mines east of the Missouri River, we reach the following result as to the total amount of gold in the United States Jan. 1, 1886.  21  WORLD'S SILVER PRODUCTION.  1  Silver.  United States.  18 ·7.. .. .. . . 1878 .. - . . . .. 1879.. ... . . . l 880. .. .. . . .  8,000,<100 !l,000,000 8,200,ono 7,850,000  I  2 Mexico.  £  £  3 South America.  £  4,500,000 4,600,000 4,800,000 4.850,000  2,000,000 2,800,000 2,500,000 2,600,000  Leaving in United States Jan. 1, 18t6 ... . ........... $478,527,u!JO  The above ($478,527,090) is certainly an extreme estimate (we believe it an over-estimate, for reasons which we have not room now to enumerate) of the stock of gold held in this country. But it is only the visible supply that is available, and hence the extent of stock would be a matter unworthy of consideration were it not that so much stress is laid upon it by, and such large estimates current among, those who think silver coinage would have to proceed much longer to be harmful. THE WORLD'S SUPPLY OF GOLD AND SILVER.  The silver production of countries other than our own is in most cases quite unattainable. Mexico, of course, comes next in amount to the United States, and is probably more correctly reported than any of the other large producing centers. Mr. Valentine gives its production and coinage of gold and silver smce 1877-78 as follows. P1·oauction in Mexico for the Year.  1877-78....... . ... . . . . . . . . . . 1878-71!.. . .... . .. . .. . . . . . . 1879-80 . . . .. .. .. .. . . . .. . . . . 1880-81.... . ....... . .. . . . . . 1881-82.... . .. . . . .. .. .. .. 1882-83 ................. . . 1883-84........... . . . . . . . . . . . 1_884-85 . . .. . . . .. . . .. .. .. .. . .  I  P-rorLuction. Gold.  I  $661,385 662,524 474,632 380,301 382,752 380,419 855,724 312,600  Silver.  $21,451.785 21,405,330 23,383.448 23.583,135 24,009,525 22,921.921 22,812,U00 2S,2fl5.814  j  Coim,a,ge.  <:;old Dollars. ,'ilver Dols.  $691,998 658,206 521,826 492,068 462,590 407,600 420,000 385,000  $22,084,203 22,162,987 24,018,528 24,617,395 25,146,260 24,08B,921 24,240,000 25,037,356  These production figure!?, we assume, are market values, and we consequently raise them somewhat for the general table given below. As to the South American silver production nothing accurate can be statej_ Some current estimates make the yield of Bolivia as high as 16 millions and Chili 5¼ millions and other States about 1t millions more, or, m all, 22½ millions of silver. We have sought but have not obtained any satisfactory information from any of those States, but think that that total must be very considerably overestimated, as we do not find any record of its export in any trade report, or of its receipt in the statistical reports of other countries. Certainly, a mere trifling amount of silver comes to the United States from the whole of South America, and not much more goes to Great Britam. We should say that if the whole wa-s put down at the presen1, time at 15 million dollars it would more than fully cover the yield of the South American mines. From Germany Mr. Burchard gives a report for 1883, which states that coun. try's production of silver to be about 9½ million dollars and about $300,000 of gold. This is quite a large increase in the former metal over the reports of only a few years back, which gave the silver production at about 150,000 kilos, or, say, 6¼ million dollars. We suspect that a. part of the present larger item is simply the proJuct of AustroHungary ores; still this may not be so, and we therefore adopt Mr. Burchard's return as it stands. Using these data, then, we obtain the following, furnisbing as nearly as possible the position of silver production in the world since 1877.   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  5  Total.  £  £  2,000,000 2.200,000 2,400,000 2,500,000  17,500,000 18. 100,,,,,0 17,~00,000 17,800,000  Total 77-80 33,050,•, 00 18,750,000 10,400,000 9,100,000 71,300,000  18~1. ...... . R,60 '),000 4,900,000 2,60'l,000 Stock July 1, 1878 ..•.... . ........... ... ... . ........ . .. .. ... $175,ooo.ooo t8;,2 ....•••• 9,81:0,ouo 4,900,000 2,750,000 Net import from July 1, 1878, to J,rn. 1, 1886. _.... _. ... . 191,027,090 1883. ...... 9.6.i O.ooo 4.800,000 3,000.000 Production from July l, 1878 , tu Jan. l, 1986 __ .. _.•. __.. 225 , 00 '),0i. O 1884........ !:J,750,000 4,!:J00,000 3,000,0LJO  Total supply ................................ . .... _.. $.>91,0~7,0~0 Deduct seven and a half years' manufacture ...•.. ,.... ... 112,500,000  4  &c.  Europe,  2,500,000 2.100.000 2,900.000 2,900,000  l ~.600,0'10 19,710,1100 20,350.000 20, 55u,OOO  Totiil 81-84 37,360,000 19,500,000 11,350,000 11,000,000 79,210,000 188'> ........ 10,250,000 5,100,000 3,000,000 2,1-lOO,OOO 21,2f>O,u00  Our gold production we revised last year, carrying back the statement to 1857. We omit this year the earlier dates and reproduce the figurEs only from 1867. The production for 1885 shows no further loss, and it may be that from this date the supply will again increase. WORLD' GOLD PRODUCTION.  ----  3  2  l  Gold.  Producti'n Produc- in U.Sta.tes tionin estiAustralia. (Mint mate.) £  1867. -- ... - · 110.583,000 1868 ..... _.. 11,051,000 1869 ....... 11,38:!,000 1870 ········ 9,237,000 1871 . . . . . . . . 9,605,000  £  Producti'n Total in Other Production Countries. in World.  -Jl,  £  10,345,0 1 0 9.600,000 9,900,000 6,810,000 6,940,0001  5  4  Productionin Russia. 3,377.000 3,503,000 4,108,000 4,114,000 4,913,000  £  2.500,000 2,500,000 2.500,000 ~.500,000 2,500,000  26,8015,000 26,654,000 27,890,000 22,96i.o,,o 23,958,000  Total '67-71. 51,858,000 43,5s5,00T0,315.000 12,500,000 128 268.000 1872 ........ 8,841,000 7,6\:15,ooo lP73 ....... 10,609,000 7 .901,00LI 1874.. .. . . . . 8.250,000 7,7~3,000 1875 ...... 8,250,000 8,054,000 1876. ... . . .. 7,243,0UO 8, t:37,000  4.771,000 *4,500,000 4.,035 ,000 *4,50ll,000 4,500,000  2,"00,000 2,500,0011 Z,:'100,0LIO 2,500,000 2,500.000  n.801,000 25,510.000 22,538.000 2~,304,000 22,880,000  Total '72-76. 41,193,000 40,040,000 2:2,306 .000 12,500,000 118,039,000 ) 877....... . 1878 ........ 1879 · ······· 1880 .... . .. l 881 . . . . . . . .  ---------  7,fl 27,965 9 ,036,000 5.625.000 2,232,000 23,920.965 6,113,122 7,575,000 5,7R5.000 2,246.000 21,719,122 5,968,519 6,354,000 5,899,000 2.596,000 20,817,51!l 5,913,tn9 6,572,ooo 5,899,uoo 2,711,000 21,095,819 6,069,396 6,191,0UO 4,874.261:l 2,767,000 19,HOl,664 1 - - - - 1 1 - - - - 1 - - - - - -1- - - - -1- - - - - - Total' 77-81. 31,092.821 35,728.000 28,082,268 12,552,000 107 455,089 1 - - - - 1-- - - - - 1 - - - - -1- - - - - - - - - - 1882 . . . . . . . . 6,086,860 5,862,000[ 4.773 ,587 2,720.000 19,442,447 1883 ..... .. . 5,750,000 5,660,000 4,n81,000 2,650.0UO 18,741,000 1884 ........ 5.800,000 5.200,000 4,6~1,00012,650,000 18.331,000 1885. ...... . 5,40i,ooo 5,4 1 10,ouo14,681,000 2,650,000 18,132,ouo  Total '82-85. 23.037,860[22,122,000 18,816,587 10,670,0.10 74,646,447  * Estimated.  The above are estimated this year and last year for Russia, and mostly for "other countries." For Australia, we have for 1882, from Mr. Hayter, the Government statistician, the following. PRODUCE OF GOLD IN AUSTRALASIAN COLONIES.*  Prior to 1882. C<>lony.  E,timated Quantity.  V alue.  During 1882. Estimated Quantity.  Value.  Total. Estimited Quantity.  Value.  - - - - • - - - - - - - - - 1 - - - - '1- - - -1- - - - 1 - Victoria . . . . . 50,505,5d7 202,022,2118 N. So.Wales . 9,181,269 34,027,114 Queensland.. 3,646,170 13,411,511 So. Australia 101,575 404,878  Oz. 8»8,536 129,238 230,090 15,668  Oz. £ £ 3,594,144 51,404,103 205.616,412 491,591 9,310,502 34,518,708 829,655 3,876,260 14,241,166 466,844 117,243 62.46~  Total of Australia... ..• . 08,434,581 249,865.271 Tasmania.. .. 240,029 928.047 New Zealand 1:1,822,755 38,461,423  1,278,527 49.122 230,893  4,977,859 64,708.108 254,848,130 187,837 289,151 1,115,384 921,664 10,053,648 39,883.087  Total of Australasia . .. 73,497.865 281l,254,741  1,553,542  6,086,860 75,050,907 295,341.601  Qz.  £  - - - -- - -  ...The figures for Victoria and New South Wales expres3 the quautity and value of all the gold raised in those colonies since_its discovery in 1851; those for QuPensla.nrl represent the export i of Q11eensland gold seaward since 1859. wben that colony w1:1-s separaterl from New South Wales; those for South A11straliaexpress the quantity and value of gold from that colony rPceived at the Melbourne an<l Sydney mints; tho,e for New Zealand express tbe total ex ports of gold from that uolony; and those for Tasmania e..<press the quantity raised since 1866, there being no record of the quantity of gold raised prior to that pe :-iod.  Wit.h regard to 1883 and 1884, we have the returns of the Melbourne Argus for Victoria (for 1883 ounces 740,373, for 1884 ounces 774,330), and from our Consul Genera.I at Melbourne the figures for Queensland in 1883, which were 212,783 ounces, equal at £,3·10 per ounce to £,744,740; we also have from the Mint report New South Wales. All the other figures are estimated smce 1882.  FOREIGN EXCHANGE. PRICES  1870  TO  1886.  The demand for foreign exchange, and the consequent range in prices, depend upon the condition of financial relations between the United States and other countries, the extent of exports and imports, the sale of securities abroad or their return to the home market, and some other elements which affect the actual balances between this and other countries. The methods of quotmg 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 $4·44 4-9, based on the worth of the Spanish dollar then current here as a standard. Exchange was then quoted at its real value, the dollar being worth almost exactly 4s. 6d. English money. From 1792 to 1834 our gold coin was of the same standard as the pound sterling-viz., 22 carats, or 916 2-3 parts in 1,000, and at its legal weight of 27 grains the dollar was worth about 97 1-3 cents, and the pound sterling in our money about $4·56½. In 1834 there was a material reduction in the value of our gold coin, so that the dollar was worth only about 91¾ cents and the pound sterling about $4·87. In 1837 another slight change made the dollar worth intrinsically about 91 l ·3 cents, and the pound $4·86 2·3. In 1834 the Custom House valuation of the sovereign was put at $4·84, and so remained till January 1, 1874. During the changes from 1834 to January 1, 1874, the London Stock Ex:change continued to reckon the dollar at 4s. 6d., about 9 to 9½ per cent too high, and involving ttie practice of quoting American securiti~s about 8{ per cent below their actual value. To correspond with the English custom, bankers in New York from 1834 to 1874 quoted sterling exchange at 109·45¾ as par. By the law of Congress of March 3, 1873, the Custom House valuation of the pound sterling was placed at its true value of $4·8665, and from January 1, 1874, sterling exchange has been quoted .accordingly, the quotation when at par being $4·8665. The London Stock Exchange also made a change in their method of quoting early in the year 1874, but unfortunately valued the dollar at 4s, or about 97 l ·3 cents. This valuation, ·being 2 2·3 cents below par, is equal to a quotable premium of about 2¾ per cent, and accordingly the present London quotations of American securities are about 2¾ per cent above their actual value-a bond worth 100 being quoted there at 102¾, [Weekly prices in 1870; highest quotations of sterling bills in 1871-85.)  1870. I-ondon ..-LOnaon (Bankers·~ ,----Pane.-------. D&te. Commercial. Long. Short. Long. Short. Jan. 7. ..... ... 108X-108¾ 108¼-..... 109)-s- ..... ~18¾-517¼ 515¾-515 " " "  14.. .. • .. • 108¾-108.¼ 21. ... ..... 108',(-108¼ 28 . ..... •• . 1087,(-108¾ Feb. 4...... .. . 1087,(-108¼ " 11...... •• • 1087,(-108¾ " 18......... 108¾-108¾ " 25.. .. • • ••• 108_¾'-108¾ Mch. 4.. .. . . . . . 108½-108¾ " 11 . .....•.• 107¼-108 " 18.. . ...... 107.½-107¾ •• 25 ...•.• . •• lOSYs-108.!,( April 1. ••• • ••• 107,½-108 •• 8......... 108,½-108¼ " 15....... •• 108,½-108¾ •• 22......... 108¾-108¼ " 29. ..•. •..• 108¾-109¼ Hay 6......... 108¾-109 " 13 .•.•.•••• 108¼-109¼ " 20.. .• • • •• • 109 -109¼' •• 27 . . .• • • ••• !09½-109,½ lune 3 ..••••.•• 109¾-109¼ " 10..... .••• 109 -109¾ " 17. .•.• .... 1097,(-10\J¼ " 24......... 109¼'-109¾ July 1......... 109¾-109¾ " 8. ..•• •... 109;.(-109¼ " 15. •• • •• •• 109½-..... " 22 ..••• -·· . 109¾-.. ... " 29...... •• • 108¼-109¼' A.up. 5 . . . . . .• • 108 -109 ' 12.. . • .••. 108,½- 109 .. 19 ......... 108;!~-109 " 26 ....••••• 109 -109¼' "-8Rt. 2.... ••••• 108¼-109 9. .•. • •••• 109 -109¼' " 16......... 109 -109¼' " 2.'3 .. ..• •••• 108_¼'-100 " 30. ....•••. 10e -108.½ Oct . 7 .. . .. .••• 108¼-108¼ " 14..... .•.• 107),f-107¼ " 21.. ....... 108.)!;-.. ... " 28... .. . .•• 108¼-109 Nov. 4....... •. 108¾-109 " 11. ........ 108¼-109 " 18... •• • . •• 108,½-109 " 25 ......... 108¾-108¼ Dec. 2. .. ...... 108¼--108¼ " 9......... 108¾-108¾ " Iii......... 108¾-108¼ .. 2:L.. .••• 108¾-lOS¾  '°·.......   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  108,½-108.¾ 109 -109¼ 108¼-109 108:V.- 109 108¼-109 108¼-109 108¼-108¼ 108½- 108.¾ lOS¼'- 108¾ 108 -108½ 108,¾- . . ... 108.J,i-108¾ 108¼-109 lOSJ,-109 109 -109¼ 109¾-109_¼ 109.¾-. .... 109,½-. .... 109,½-109¼ 109¾-110 109¼-110 109¾-109¾ 109¾- . . . . 109,¾-lCY.l¾ 109¼- l 10 . . .. -t09¼ 109¼-110 110¼-.... . 109¾-109¼ 109_½-109¾ 109y.- 109¾ 109¼-109¼ 109¼-109¼ 109¼-109.¾ 109¼- - .... 109_¾-109¼ ..... -109¾ 109 -109¼ ..... -109 108¾-108¼ 108¾-108¼ 109¼-109¾ 10\l¼-.. . . 109 '.- 109¼' l<Y.l~-1- 109¾ 109¼-lmll,( 108¾-108¼ 109 -109¾ 109¼-109),( lO!l -109¾ tUS,U-100¼ 109 -109~  109¾-109¼ 109.¾-.... . 109.¾- ... .. 109¼-109¾ lffi:½-109¾ 109¼-109¾ 109¾-109½ 109½-109¼' 108_¼-109 108¾-108¼ 109¼- .. ... 108¼- 109 llf.l.½-109¾ 109'½-109¾ 109¾-109¾ 110 -110½ 110 - .... . 110½- ... .. 110¼-110¼' 110¾-110¾ 110½-110¾ 110¾--110,¼{ 110¼'- ..... 110 -110½ 110¾-110¾ ... . -110¼ 110¾- .... . 110¼- .... . 110¼-.... . 110¾- 110¼ 110¾- 110¾ 110¼-110¼ 110¾-110¼ llO)r(- 110¾ 110_½-llO¾ 110½:-J 10¾ ..... -110¾ 109¾-109¼ ..... -109¼ 109¼- 109;.( 109¾-109_¼ 10'lJH 10 l(! 1¾- 109¼ l ' J¼ - 109¼ : .0 -110¼ I iO -110¾ l.09_¾ - l(Y.)_¾ l<Y.J¼-110 110 -110!{ 1®¼-110 10\J¾-1091(  ..... -517¾ 518½-517,½ 518¼ -517¼ 618½-517½ 518¼-517¾ 518½-517¾ 518Ys-517¼ 520 -518¾ 521:,(-520 5:.?:3_¾'- 522½ 522½-521¾ 523¼-521¼ 520 -518¼ 518¼-517½ 520 - 518¼ 517,½-516¼' 517.½-516¼' 517,½-516¼' 515.¾ - 514¾ 515 -514¼ 515 -51:3¼ 515¾-513¾ 5167,(-515¾ 516:V.-515¾ 516¼-515¾ 516¼-515 515 -513¾ 512,¾-511),( 513,¾-513¾ 513¼-513¾ 513¾-512¼ 520 -515 515 -513¼ 513¼-512½ 513¼-512¼ 515 -512¼ 515 -512¼  ..... -515 515¾-515 51:,,.-515 515¾-1>15 515.¾- 515 515 -515.¾ 515_¾-515 517,¾-516¼' 518¼-517¾ 521.J,.t'-520 520 -518¼ 521J,. (-519¾ 517.½-516¼' 516¼-515 5l7,½-513¾ 515 -513¼ 515 -513¾ 515 -513¼ 513¾-512½ 512,½-511¼ 512.½-511).( 513¼-512.½ 514¾-51:3¼ 514¾-514¾ 514¾-514¾ 513¼-512,½ 512,½-51 l¼' !'illJ.(-510 508¼-507½ 508¾-507¼ 508¾-507¾ 511¼'-508¾ 508¼-507¼ 507,½-505 507,½-506¼' 507,½-5063' 506¼-505  ~ - - - - - - - - - - c ' o n t t n e n t a l l\torkets.----~ Antwerp. Swiss. Hamburg. AmP.t'tlam. F'rankrt. Bremen 518¼-517¼ 518¼-517¼ 85¼-- ... 40¼-.. .. 40¼- ... . 78¾--518¾-517,½ 518¼-517¼ 85¼.... 40¾-. . . 40½-, .. . 78¼- ....  516¼-517½ 618¼-51i¾ 518¼-517.½ 518¼-t.17½ 517,¾ -518.½ 518¼-517½ 522.½-518¼ 521},{ -520 523¼ -522¼ 523¼-5:22¼ 523¼-522½ 5217,(-518¼ 520 -517¾ 522,½-520 518.½-517½ 518¼-517¾ 518¾ -517¼ 516,½-515 515¾-515 515¾-513¼ 515¾-515 516¼-515¾ 516¼-515¾ 516¼- 515¾ 517,½-515 515 -513¼ 512,½-511.¼' 513¼-513¼  518¼-517¼ 518¼ -517¾ 518¼-517¼ 518¼-517_¼ 517,½-518½ 518¼-517.½ 522,½-518¾ 521,¼{-520 524¼-522¾ 524¼-522¾ 52.'3¾-522¾ 5217,(-518¼ 520 -517¾ 522_¾'-520 518¾-517¼ 518¾-517¼ 518¼-517¼ 616¼-515 515¾-515 615¾-513¼ 515,¾-515 516¼-515¾ 616¼-515¾ 516_¼-515.¾ 517,¾-515 515 -513,{ 512,½-511),( 513¼-513¾  512¾-513¼ 516¾-513¾ 515 -512¼ 51:{¼-512½ 513¼-{,1:2.½ 515 --012½ 515 -512¾ 517¼-515¾  512,½-5i3¾ f»16J,(-513¼  51~¾-512_½  513¼-512¼ 51n -512¼ !.15 -512¼  616.),(-515 618¼-517¼  85¼-'35¼  5iii!i~is··  517,½-516¼ 517,¾-516¼ 517¼-51 63( 618¼-517¼ 518J{-518¼ 516¼-516).( 517,½-5163:( 517,½-516¼  36 -36¼ 36 -36¼ 85¼-3fi 36 -36¼ 36 -3fi¼ 36 -31iY. 35¼-31i 35¾ -35¼ 35¾-35¼ 35½-35¼ 35¾~¼ 35¾-35½ 85¼-35¼ 35¼-35¼ 35¼-36 85¼-36 35Ya-36 36¾-36¼' 35¼ -3fi1' 36¾-36¼' 36 -3fi¾ 36 -36¼ 36 -36¾ 36¾-36¼' 36¾-36,1' 86,¾-36¼ 37 -37¾ 37¼-38 37 -38 87 -37.½ 37 -3i;,( 86¼ -37 36¼- 36¾ 36Y.-36¼ 36 -36¼' 86 -36¼ 35¼-36 85¼-35¼  614¾=513¾  515 -514¾ 515 -514¾ 513¾-512¼ 513¼'-512¾ 517¼-516),( 513¼-512¼  36 -36¾' 86 -36¼ 36 -36¾ 86 -36¼ 86 -86¾ 36 -86¼ 35.¼-86 86 -86¼ 86 -36¾ 36 -86¼ im -Sfi¼  40¼-41 41 -41¼ 40¼-41 40¼-41 40¼-41 40¼-41 40,½-40¼ 40_½'-40¾ 40¾'-40¾ 40>,1'-40¾ 40 ¾-40¾ 40.½-40½ 40¾-40¾ 40¾-40¾ 40¼-41 40¼-41 40¼-41 41¾-41¼' 41 -41¾ 41¾-41¼' 41 -41¾ .Cl -41¾ 41 -41¼ 41 -41¾ 41¾-41¼' 41_¾'-41¼ 42 -43 4U{-42¾ 42 -42¼ 41½'-41¼ 41~-41¾ 4B(-41¼ 40½-41 40¼-41 40¼-41 40¼-40¼ 40¾-40¼ 40¼-40¼ 40,½-40¾ 40¼-41 40¼-41 40¼-41 41 -41¾ 41 -41¾ 41¾-41¼ 40¼-41 40¼-40¼ 40_¼-41 4.0¼-40¼ 40~ ➔0'.¼  40¼-41 41 -41¼ 40¼-41 <t0¼-41 40¼-40¼ 40¼-41 40,½-40¾ 40· , -40¼ 40¼-40¼' 40¼-40¼' 40!\-40¾ 40¾-40¾ 40,½-40¾ 40¼-40.¾ 40¼-40¼ 40¼-40½ 40¼-40% 41 -41;{ 40¼-41 41 -41¼ 40¼-41 40¼-40¼ 40¼-40¼ 41 -41¾ 41 -41¼ 41¼-42 44 -44½ 441t;-45 42 -43 43 -43¾ 42'-<-43 41_¾-42 41¾-41¼ 41½-41¼ 41½-41 ¾ 41¾-41¼ 41 -41¼' 41 -41¼' 40¾-40¼ 40¼-41 41 -41¾ 41 -41¾ 41 -41¾ 41Y.-41¼' 41 ~ -41.J,( 40¼-41 40¼-41  79 - 7!l¾ 79 -7\J¾ 79 -79¼ 79¾-~'9¾( 79 _7vx 79¾-79.!,( 78¾-711 78¼-78~ 78¼'-78¾ 78~-78¾ 787,(-78 '-'} 78!,(-7814' 78¼-78¾ 78¼'-78¾ 78,½- 78¼ 78¾-78¼ 78,¾-78J{ 79 -79¾ 79¼'-7\l¼ 79¾-7!l½ 79¾-79¼' 79¼-7!lJ.( 79¾-79,1' 79.1,(-79,½ 79¾-79¾ 79¼-80¾ 81 -R2 81 -81 ½ 81 -82 81 -81.½' 81 -81!,{ 80¾-81¼ '19½-80 79¾-80¼ 79¾-79¼ 79,½-79¾ 78¾-79 78¼-79  ---Berlin.  tl¾-... .  71!,,- •...  71¾·-71~ 71_¼-71¾ 71¾-71¾ 71 ½- 711~, 7H8- 71~ 71¾-71¼ 71 -·71¼' 70¼-'l'l 70~- 7t•¾  70 -, -70¼. 70 v-•q ¼' 70¾ · .. '"' 71 -71.!,( 71 -71¼' 71¼-71¾ 71~-71¾ 71¼-71¾ 71¾-71¾ 71¾-71~" 71¾-7J¾ 71¼-71½ 71.½ -71 !✓• 71"'5-71¾ 71¾-71 ;'. 71¾-7HI 73,½-74 75 -77 76 -7!:l 75 -7'i 75 -76 74 -74,\ 737,(-73~.. 72 -72.J,a. 72¾-78 72¾-72¼ 72¼'-72~ 71¼-72 71.¾-72 78¼'-78¼ 71¼-71¼ 71¾-71¾  '78¼=79·.  78.¼-79 79 -79?.( 78_¼-79 79 -79M 78¾-78¼  71¼-71¼  71¼-71¼ 71¼ 72 72 -72¼ 72 -72¼ 71,½-71,i( 78¾-'?8¼ 71¾-'n-" 40¼-41 78¼-79 71¼-71'4 40¼-40¼ 78¼-'?Y 't1¼-71¼ 40¼-41 78¼-79 71¾-71.k  FOREIGN EXCHANGE.  23  18'2'1-1872-18'73. From 1871 to 18';'8 inclusive, the only marked feature was the panic in 1878, except that at other times the market was c.eca110:n ally depressed by 60 days' sterling bills borrowed by stock op@rators. In 1873 foreign exchange opened firmly, and so continued during the early months of the year, till the extraordinary moneystrin2ency, culminating in April, de1,ressed the price to 107¼ for prime 60 da.ys' sterling. One of \he curious features of the ma.rke1 was the large amount of 60 days' sterling bills borrowed by stock operators, who were accustomed to sell the same, and thus obtain currencH_or their speculations, and repay the bills with short sigbt when the time came for settlement. Durin1; the financial crisi& of September, 1873, the price of f'lxchanga was greatly depressed, and the market was for some time at o. dead -lock, it beillg impOl'l· eible to , egotlate bills at any price. Bankers' 60 days' sterling were reported as mid down to 103, sight at 104, and cable transfen at 104@10 .i: c.ommercial bills at one time were re-ported at . 01{@102.  1sn. M.ay. June. April. March. February. .January. 60 S 60 60 8 S 60 3 60 3 GO 3 days. days. days. days. days. days. days. daya. days. days. days. days. 109,½ lll,'¾ 109¼ 110¾ 109¼ 110,½' 110¼ 110¼ 110¼ 110¼ 9. 1.. . s. 110¼ 110¼ 110¼ 110¼ Holiday. 109¾ 110¾ 109¾ 110,½' 2 ... . !09¼ 109¼ 109,½ 110¼ 109¾ 110,½' 109¼ 110¼ 110¼ 110¼ 110¾ s110•, 3 .•• 4 .••• 109¾ 109¼ 103,½ 110¾ 109¾ 110,½' 110 11(1,¾ 110¾ 110¼ S. 110 110.¾ 110¼ 110.¾ 110¼ 110¼ s. 109¼ 109¼ 109,½ 110¼ 109.¾ 110,½' 110 110.¾ 110¼ 110.¾ 110¼ 11 ¼ J. . •. 109¼ 110 Holiday . s. 110¼' 110¼ lo9¼ 110¼ 109¼ 110¾ '1 .. . 109¼ 110  .....  e... . 9 .••.  JO .••• 11 ... .  s.  109¼ 109¼ 109¼ 10::I¼ 109¾ 109Ji'  110 110 110 110 110¼ 110¼  12 ... . 13 ... . 14 .. .. s. lo ... . 16 .••• 109¼ 110 17 .... 109¼ 110¼ 18 . · • 109¼ 110¾ 19 ... . 109¼ 110¼ 20 ... . 109¾ 110¼ 21. .. . 109}, 110¼ s. 22 .. . 2.'L •• 109¼ 110¼ 2L .. 109¼ 110.!<( 25 . . . 109¼ 110¼ t6 ... . 109¼ 110¼ 27 .•• JOH¼ 110.J,( ts . ... 109¼ 110.!,( 29 .••. 80 .. . 109¾ 110¼ 11 .. . 109¼ 110¼  s.  110¼ 109¼ 110¾ 110 110¾ 110¼ 109¼ 110.¾ 110¼ 109.¼ 110¾ 110 110¾ 110¼ 109¼ 110.¾ 110 110.¾ S. 110 110¾ 109¾ 110¼ 109¼ 110¾ 110 110.¾ 109>,i 110¼ 109¼ 110¾ 110 110.¾ 109¾ 110¾ 109¼ 110¾ 110 110.¾ S. 109,½ 110¼ 10\1¼ 110¾ 109¾ 110¾ 109¼ JI( ,¾ 110 110¾ 100¾ 110¾ 109¼ 110¾ 110 110 ~ 9. 110 110.¾ 109¾ 110¾ 110 110¾ 110 110.¾ 10:l¾ 110¼ 110 110¾ 110 110¾ Holiday. 109¼ 110,½ 110 110.¾ s. 109.¾ 110,½ 109¼ 110,½ 109.¾ 110¼ 109¼ 110.½ 110 110.¾ 109¾ 1!0¾ 109¼ 110,½' 110 110.¾ S. 110 110.¾ lOfl¾ 110¼ 109¼ 110,½' 110 110.¾ 109,¾ 110¼ 109¼ 110,½' 110¼ 110¼ 109.¼ 110¼ 110¼ 110¼ 109¼ 110,½' 8. 109¼ 110¼  109,½ 109,½ 109,½ 109¼  s.  s.  s.  s.  110¾ 110¼ 110¾ 110¼ 110¾ 110,¾ 110¼ 110¼ 110½ 9. 110¼ 110¼ 110 110,½' 110¼ 110 110,½' 110¾ 110.¾ 110¾ 110¼ 110¾ 110" 110¾ 111 11ll¼ 110¼ 110.½ 111 110¼ 110¼ s. 110,½' 111 110,½' 111 110¼ 110¼ 110¾ 110¼ 110¾ 110¼ s. 110¾ 110¼ 1!0¾ 110¼ 110½ 110¼ 110¼' 110¼ 110,½ 111 110¼' 110¼ 1!0~ 111 s. 110¼ 110¼ Jl'l¼ 110.¼ 110¾ 111 110¾ 110¼ 110.¾ 111¼ 110¾ 111¼ 110¾ 1 :O¼ 110¾ 111¼ 110¼ 110¼ 110¾ 111¼ 110¾ 110¼ 110¾ 111¼  110¾ 110¼' 110.¾( 110¼ 110¼ 110¾  s.  s.  July. Augnet. 5eptember. 60 8 60 3 60 3 days. days. days. days. days. days. 110¾ 111¼ 110 110¼ 109 109,½' 8. 110 110,½ 109 109,½' Holiday. 109¼ 110,½' 8. Holiday. 109¼ 110¼ 109 109,½' llC.¾ 111¼ 109¼ 110¼ 108¼ 109¼ 110,¾ 111 s. 108¼ 109.J,i 110,¾ Ill 109¼ 110¾ 108}~ 109¼' 110~ 111 109¼ 110¼ 108¼ 109.!,( s. 109¼ 110.¾( 108.¾ 109¼ 110,½' 111 109¾ 110¾ s. 110¼ 110¼ 109,½' 110¼ 108.¾ 109¼ 110¼ 110¼ 109,½' 110 108¼ 108¼ 110¼ llO¼ S. 108¾ 108¼ 110¾ 110¼ 109,½ 109¼ 108.¾ 109¼ 110¼ 110¼ 109¼ 109¼ 108,½' 109¾ s. 109¼' 109¼ 108,½' 109.¼ 110¼ 110¼ 1011¼' 109¾ s. 110¼ 110¾ 109¼ 109.¾ 108,½' 109¾ 110¼ 110¼ 109 109,¾ 108¼ 108¼ 110¼ 110¼ s. 108¼ 108¼ 110¾ 110¼ 108¼ 109¼' 106¾ 109 110¾ 110¼ 108¼ 109¼ 108¼ 109.¼ s. 109 109,¾ 108¼ 109,½' 110¾ 110¾ 109¼ 109¼ s. 110¼ 110¾ 109¼ 109¼ 108¼ 109.½ 110¼ 119.¾ 109)( 109¼ 108¾ 109.J.; 110¼ 110¾ s. 108,½ 109¼ 110 110¼ 109¾ 109¼ l~Ya 109¼ 110 110¼ 109¾ lO!l¾ 108.¾( 109¾ S. lOS¼ 109.¾ 108¼ 109¼ 110 110¼ 109¾ 109¾  October. 60 3 dayi,. days. S. 108¾ 109 108¼' 108¼ 108¼ 109¾ 10 ¾ 109¾ 108¼ 109¼ 109 110 8  109  110)( 110.!,( 110 109¼ 109¾ 109¾  109 108¼ 108,¾ 108¾ 108¾  s.  108,½' 109¾ 108,¼ 10 .½ 10 .½ 109¾ 108,¼' 109.J,i 108¼ 109¼ 108¾ 109¾ S. 108¼ 109½ 108¼ 109¼ 108¼ 109¼ 108¼ 109¼ 108¼ 109¼ 108¼ 109¼  S.  108¼ 109¼ 108¼ 100¼  November. 6·1 3 days. days. 108¼ 109¼ 108¼ 109¼ 108¾ 109.¾ 108,¾ 109.¾  D ecember 60 8 days. day@. lO!l¼ 109¼ 109¼ 109¼  .s.  109¾ 109¾ 109¼ 109¼ 108¾ 109¾ 109¼ 109¼ Holiday. 109¾ 109:U 108.¾ 109.¾ 109 109J4 108¾ 109¾ 109 109,% 108.¼ 10!!.¼ s. 108¼ 109¼ 109 109¼ 109¾ 109¼ 108¼ 109¼ 109¾ 109¼ 108¼ 109¼ 109¼' 109¼ 109 109,¼ 109¼' 109¼ 109¾ 109¾ 109¼ 109¼ 109¼' 110¼ S. 109¼.( 110~ 109¾ lIO S. 109¾ 110 109¾ 110¼ 109¼' lO!l¼ 10!!¼ 110¼ 109¼ 109¼ 109¾ 110¾ 1J9¼' 109¼ 109.Jr( 110 109¼ 109¼ 109,¼' 110 S. 109¼ 109¼ Holidav. 9. 109¼' 109¼ 109 109¼ 109¼ 109~: 109 109.¼ 109¼ 109¼ 109¾ 109¼ 1/J9Ya 1 JO Holiday. 109¾ 110  s.  s.  s  1~72. Marcb. April. .May. June. .,u, 1 • August. Sei,temher. October. February, 50 a 60 3 60 a 60 3 60 3 60 a 60 a 60 a 60 3 days. days. da_ys. days. day:1. days. days. d11.ys. days. days. days. days. days. days. days. days. days. days. dar.s, days. Janunry. 60 3  1. .. . 2 .. .. ;1 .. ..  ~- .. .  6.:::  7 •••• 8 .... 9 •••  10 . ••• 11. ... 12 ... . 13 .. .. 14.. .. 15 ... 16 . . ..  17 .. .. 18 .. 19 ... 2:J . .•• l!l. .. .  22 .. .. 2::l .•••  2--1.. .. 2.-, .•• 2ti ...  27 .. •  28 ..• • 29 .••• 8J .... \! .••.  Holiday: 109½ 110¾ 1C9¾ 110 l< 19Ya 110 JOq¼ 109¼ 109¼ 109¼  January.  8 .... 9 ..••  10 ... . 11 .. ..  12 . . .  s.  109¾ 109,½ 109.¾ 109¾ 109¾ 109¾  110¼ 110.½ 110.½ 110.½ 110,¼ 110.½  s.  13 .. .. 109.½ 110¼ ·l<l . .. . 109,¼ 110¾ 15 ... . 109¾ 110¼' lfi .. .. 109,½ 110¾ 17 .. .. 109,½ 110.½ 18 ... . 109,½ 110,½ 19 .. . . s. 20 ..• 109½ 110¼ 21 ... . 109.½ 110,½ 22 .. . 109,½ 110_½ 2:-l .• .• 109¾ 110.½ 24 ... . 109¾ 110.½ 25 . .. . 109;8 110,½ 26 ... .  109¾ 110¼ 109¾ 110¾  109¾ 110¾ 109¾ 110¾ 109¾ 110¾ 109¾ 110¾ 109¼ 110 109¼_110 .S 109¼' 110 lO!J.¾( 110 109¼ 110¼ 109¼' 110¼ 109¼' 110¾ 109¼ llO¼ s. 109¼ 110¼ 109¼ 110¼ · 109~" 110¼' 10 J¼ 110¼ 109¾ 110¼ 109¼ 110.¼' s. 109¾ 110¼ 109.½ 110¼ 109¾ 110¼ 109},i 110¾ 109¼ 110.¾ 109¼ 110.¾ s. 109¼ 110¾ 109¼ 110.¾  110.¾ 109¼-110¾ 8. 110¾ 110¾ 109¼ 110¾ 110¾ 109¼ 110.¾ 109¼ 110,¾ s. 109¼ 110¾ lOH¼ 110¾ 109¼ 110¾ 109¼ 110¾ 109¼ 110.¾ 109¼ 110.¾ s. 109¾ 110¾ 109¼ 110¾ 109¼ 110¾ 109¾ 110¾ 1n9¼ 110¾ s. 109¼ 110¾ 109¼ 110.¾ 109¼ 110.¾ 109¼ 110¾ 109¼ 110¾ lOCI¼ 110¾ 109¼ 110½ s. 109¼ 110¾ 109¼ 110¾ 109¼ 110¾ 109.¼ llO¾ 109¼ 110,½' ::,. 109.¼ 110,½ 109¼ 110¾ 109¼ 110½ 109¼ 110¾ 109¼ 110¾ lO!J?i 110¾ 109¼ 110¼ s. lO!l¾ 1, 0¾ 109¾ 110¼ 109¼ 110.½ 109.¾ 110¼ 109.¼ 110½ lO!l.¼ 110.3-_s. 109.¾ 110,½' llO 110¾ 109¼ 110¾ 110 110¾ 109¾ 110¾ 110 110.¾ s. 109¼ 110¾ 109¾ 110¼  Februar}. March. April. 60 3 60 3 60 3 dayf!. fays. days. days. days. days. 109½ 110¼ 108¾ 10\1¼ 107¼ 08¼ s. s. 107¼ 108¼ 109½ 110¼ 108.¼ 109¾ 107¼' 108¼ 109,½ 110½ 108¼' 109¼ 107.½ 108¾ 109.½ 110¾ 108¼ 109.J,.! 107¼ 108¾ 109¾ 110¾ !08¼ 109¼ s. 109.½ 110¼ 108 108¼ 107.½ 108¾ 109,½' 110¾ 108 108¼ 107¼' 108¼' s. . s. 1073-• 108!,4' 109¼ 110¼ 108 108¼ 107¼ 108¾ 109¾ 110¼ 108¼ 108½ (Holiday.) 109¾ 110.¾( 108 108¼ 107¼ 108.¼ 109¾ 110.¾( 108 108¾ s 109¼ 110¼ 108 108¼ 107.½ 108.V. 109¼' 110¾ 108 108¼ 107¾ 108¾ s. s. 107¼ 108¾ 108.¾( 109 109¼ 110 107.¾( 108¼ 1083-4 11,9 109.Ya 110 107¾ 109 109¼ no 108¼' 109 108 108J✓• 109 109¼ 108¼ 109 s. 10!) 109,¼ 108¼ 108¼ 108¾ 109 5{ (Holiday.) 108¾ 108¼ 108¼ 109¾ s. s. 108¾ 10::J¾ 109 109¼ 108¾ 108¼ 108¼ 109,½ 109 lO!l¼ 108¼' 109 108¾ 109),( 108¼ 109¾ 108¾ 109¼ 108¾ 109,½' s. 108°i 109¼ 108¾ 109¼' 108.¾ 109,½ 108¼ 109¼ 108¼ 109¾ 108)i 109¼ 108 ~" 109¾ s. 108!' 109¼ 105¼ 109  May. June. 6C 3 60 3 days.days. days days. 108¾ 109¼ s. 108¾ 109,½' 108¼ 110 108¾ 109¾ 108¼ 110 s. 108¼ 110,¼, 108¾ 109¾ 109 110¼ 108}4 109¾ 109¼ 110¾ 108,½ 1( ,9,¼ 109¼ 110¾ ms¾ 109¾ s. 1081/, 109¾ 109¼ 110¾ 108¾ 109¼ lO!l 1:01( JO;),¾ 110,¼' 108i'109¼ 100¾ 110}.( 108¾ 109¼ 109¾ 110¼' 108¼ 110 109¾ 110¼ 108¼ 110 s. 109¼ 110¼' 109¼' 110¼' 109¼ 110¾ 109¼' 110.¾( s. 109.¾( 110 ~ 109},.( 110% 109)4 110¼' lO!JYa 110¼' 109¼ 1 ·0¼' 109¼ 110.J,( 109.¾( 110.Jr( lO!l¼ 110¼ s. 109¼ 110¼ 109.¾( 110¼' 109 110 109_¾ 110¼' s. :i.09 • 110¼' 108¼ 109¼ 109¾ 110¼' 108¼ 109.¼ 109 ¾ 110¼' 108¼ 109¾ 109¾ 110¼ s. 108¼ 109¼ 1Holidar.) 109¾ 110¼ 108¼ lW;,4  s.  109¾ 110¼ 109¼ 109¼ 109¾ llO}, 109¼ 109¼ 109¾ 110¼ s. 109¼ 109¼ 109¾ 110¼ 109!,;! 1(,9,¼ 109¼ 109¼ 109¾ 110¾ 109¾ 110 109¼ 109J" ""9¾ 110¼ 109 ',t. 109¼' 109¼ 110 S s. 109.½ 110.¼' 109¼ 109¼ 109¼' 109¼ 109.¾( 110 109¾ l!O¼ 109¼ 109¼ 109',( 110 109¾ 110¾ s. 109¼ 110¼ 109¾ 110¾ 109 V. 109¼ JO¾ 110½ 109,½S 110¼ 109.¾' 109¼ 109¾ 110¾ 109,½' 110¼ 109¼' 109¼ 109¼ l1i>¼ s. s. 109¼ 110¼' 109¼' 109¼ 109¼' 109¼ 10\i,½ 110¼ 109¾ 110¾ 109¼' 109¼ 109.½ 110¼ 109¾ 110.Ya s. 109.½ 110¼ 109,½ 110.¾( 1P9l,( 109¼ Holiday. 109¼ 110¼ lll!J¼' 10H¼ 109¾ 110¾ 109,½ 110¼ s. 10!1¾ 109¼ 109¾ 111.l¼ 1093-~ 110¼ 109¼ 1:19¼ s. 109¼ 109¼ 109,½ 110¼ 109],( 110 l l 9¼ 109¼ 109.½ 110¼ 1v9.½ 110¼ s. 109.½ 110¼' 109¾ 110¼ Holiday. 109¼ 109¼ 109¼ 110¼ 109¼ 109¼ 109¼ uou 109 109.Y. s.  60 3 d!!_Js. days. l .. .. (Holiday.) I .. .. 109.½ 110.½ o... . 109¾ llO;i 4 .••• 109¾ 110¼ 5 ... 6 .... 7 ...  109 109.¾ 10'.l¾ 109¼ 109i109x  s.  "7 ... . 109¾ 110¼ 26 109¼ 110¼' 29 ... 109 ¾ 110¼ 3'.) ..•. !09¾ 110:V. !31. ... 109¾ 110¼   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  109¼ 109~ 109.¼ 109.¼  110 110¾ 110 110¾ 110 110¾ Holiday. 110 110¾ 110 110¾  s.  110 110 110 110 110 110  110¾ 110,¾ 110¾  no~.  110,¾ 110¾ S. l 10 110¾ 110 110¾ 110 110% 109¼ 110¾ 109¼ 110¾ 109¼ 110¾  s.  109¼ 109.¼ 10\H:( 109.¼ 109¾ 100.¾  110.½ 110,½' 110,¼ 110,½ 110¼ 110¾  s.  109¾ 110¼ 109.¾ 110¼ 109,¾ ll/l¾  July. 60 8 day s .days. 109¼' 110¾ 109.Jr( 110¼ 109¼ 110¼ (Holiday.) (Holiday.)  s.  109¼ 109,½' 109% 109¾ 109¼ 109¾  110¾ 110.lr( 110¾ 110.3-.110,½ 110¼  109¼ 109¾ 109.¾ 109,½ 109¾ 109¾  110¼ 110.½ 110.½ 110\.( 1 10¾ 110,1,(  109¾ 109¾ 109¾ 109¾ 109_!,( 109¼  110¼' 110¼ 110.¾( 110¾ 110 110  109}' 109 10:: 10?  109¼ 109¼ 109~{ lO!J¾  s.  s.  s.  s. 109¾ 110)4' JO!)¼' 110¼ 108¼ 109¾ 109.¼:' 110¼ 1'18¼ 109¾ S. 103¾ 109,½ 109~ 110¼ 108¼ lOfl¼ 10!1¼ 110 108.¾ 109¾ 10 l¼ 110 108¾ 109¼ S. 109 109¼ 108¼ 109.¼ 108¼' 109 108¼ 10.1,¼ 108.Jr( 109 S. 108¼ 109 108¼ 109¾ 108¾ 1\19 108¼ 109¼ 108),( 109¼ 108¼ 109¼ 108,li 109¼ s. 108¼ 109¾ 108¼ 109.½ 108¼' 109¼' 108½ 109¾ 1083,.( 109¼' 108 109 s. 109 109¼ 108¾ l u9¼ 109¼ 109¼ 108¼ 10'.I¼' 109¼ 109¼ 107,½' 108¼ s. 109 109.¼ 109 109¾ 107¼- 109¾ 109¾ 109,¼ 107¼ I09¼ S. 107¼ 109¼ 109¼' 110 107¼ 109¼ 109¼ 109¼ lOi¾ 108¾ 109 109.¼ 101¼ - 108½ ti. 109¼ 109¼ 109 10~¼ 107¾-108¼ 109 109.¼  August. 60 3 days.days. 109 109¼ 109 109¼  September 60  3  days. du.ye. 107?( 108.½ 107¼ 108¼ s. 107¼ 107¼ 109 109¾ 107¼ 107¼ 109 109¾ 107½ 108¼' 109 109¾ 108 108.¼ 109 109¾ s. 109 109¾ 108¼ 109,½ 109 109¾ 108.¾ 109¾ s. 10f ¾ 109¾ 109 109¾ 108,½ 109,!,( 108¾ 109,½ 108¾ 109¾ 108¾ 109¾ 108,½' 109)1( 108% 109¾ s. 108,½ 109 1( 108¾ 109½ ]08).i 109,¼' 108.¾ 109¾ s. 108,¾ 109¾ 108¾ 109,¼, 108,½ 109¼' 10s}a 108}~ 108,½ lm!.J,4' 108¼ 108¼ 108,½ 109¼' 108 108¾ S. 107¼ 108¾ 108¾ lOfl¼ 107¼ 108¾ 107_½ 108¼ s. 107 107¼ 107¼ JOSY. 105¼ 106 ¼ 107¾ 108~. 105¼ 106,½' 1071/a 108¾ 105¼ 106,½ I,. 108.Ya 108¼ 108 1083~ 105~ 106,½ 108 108¼ 106¾ 108  s  Nove~. "'le,.,t!n:.Oer. 60 a 60 a days. days. day~. days.  108¼ 108¼ 110¾ 1083~ 101:S~, 110 s. 108¼ 1U8,J,f 108½) 109¼ Holiday. 108.¾ !08¾ 110 s. 108 109¼ 108¾ 110.~ 1118¾ 110.J,(' 108~ 110 108¾ 109¼ 108¼ 110,½' 10&¼ 1101,(' s. 108¼ 110¼ 108¼ 110¼ 108,¼ 110¼ 108¼ 110,½' 108¼ 110,½' s. 108,¼ 110¼ 108¼ 110¼ 108¾ 110¼ 108¼ 110¾ 109 110¼ 108¾ 11 0,¼' 109 110.½ s. 109 lhl,½ 108¾ 11-)¼' 109 1111,½ lOo¾ lit)¼ S. lOX¼ 110¼ 109 110¼ 108¾ llU¾' 109 110.½ 108¾ 110¼ 108¼ 110¼ 108¾ 110¾ 10\1 110¾ s. 109 110¾ 108¼ 110¼ 109 110¾ 108¼ 11074 8. 108?-i 110 Ilulidny. 109 110¼ 109 110¾ 10~¼ 111.l 108¼ 110¼' 108,¾ 110 108¾ 110~ 107,½' 107,½ 107¾ 107¾ 107¼  October. 60 8 days. days. 107¼ 109 107¼ 108¾ 107 108.l( 107¼' 108>.t'.  s.  107¼ 1071,i 107 107 106¾ 106.¼  108¼ 108.!,( 108 108 107¼ 11'7¾  106¼ 107 107 106 106,½' 106.¾  107]' 108 108 107 107,½' 108  s.  s.  106¾ 107 106¾ 106¾ 106"-.(  108 !OBJ,! 108 108 108¼' 106.¼ 108¼  s.  106¾ lffi¼ 10li¼ 106,½  108¼' 108 !( 1081..( 108',.( JO(i,¼ 108¼  Novemher  S. 108¼ 108¾ 108% ll,8,¾ 108¾  110¼' 110¼ 110¼' 110¾ 110½  to¾ HO¼  s.  108.¾ 11 '8.¼ 109 109¼ 109¼ hl9¾  110¾ 110¼' llO¾ 110¾ 110¼' 110.!,(  ~-  109¼ 110¼' 109}4' 110¾ 109¼' llOU 109¼' lltl¼ 109¾ llG,¼ 109¾ 110¼ S. 109,¼ 110¾ lO!l¼ 10\1¼ 110,. 109¼ ll!l¼ JU!),½ I Ill_¾ lll9¾ 110~  11P~,  s.  10:1:i..- 110¼ 10~% 1111,½  December.  60 3 iaye. days. 106¼ 108¼ !1o8¼ 109¾ s. !09¼ 110¼ JOG¼( 108 108¼ 109¼ (lloliduy.) 108 109 JOU 108 108¼' lO!JJ,:( 105¼ 108 108,½' 10-J¼ 105¼ 108.¾( s. 106 108¼ 1087, 109¾ s. 108¾ lO<JYa 100 108.½ 108½ 109¼ lOG 108.½ !08¾ 109¼ 100¼ 108,½ 108¼ l()(J¼ 10, 10(.J 108,¼ 109¼ 10'; 109 s. 107 109 109¼ 1.0 s. 109 109¼ J()f,_¼ 108¼ 109 109¼ lOti;i 108¼ 109 109¼ lOi 108~4 108¼ 10!,_¾ ]07.!,( 108¾ 108¾ 109¼ 107 108¼ s. 107 108¼ 108¾ 109½ s. 108% 109¼ 107;.( 108.½ 108¼ 109¼ 107.½ 108¼ (Holiday.) 10,J, 108¾ 108¾ !O!J,(' (Holiday.) 108¾ 10\l¾ 107¼ 108,¼ s. 107¼ 108,¼ l fi9 109½ 8. 10, '{ 109¾ 60  3  daya.daye.  l Ot, , 4  l()(J ¾  24-  FOREIGN EXCHANGE.  187.f.•07~-1876. bille were unusually eteady, and during a large part of the year were very firm. The rates reached 1pecie shipping point several times, leading to coneiderable shipments of coio. Tu e return movement late in the ye:, r of United States Gov6rnment bonde to this country wr.s estimated by soru9 of the most competent judges here to amount to about $8,000,000. In 1875 there was little to dieturb the course of exchange so far as the tra.nsactions between the Uoited States and foreign countries were concerned; but the rate111 w ere greatly depressed at times by the scarcity of cash g ;>ld ia New York, and the conse,uent high rai.tes on gold loans forced by speculative manipulation. In 1876 the price of foreign exchange was very little disturbed either by speculative manipulations or by bond negotiation! abroad, and the market was left to take its cuurse as govP-rned by ordina.ry trade influences. In the first seven months of the year rate• frequently ruled higu enough. to admit nf the sh ipment of specie at a profit; but after July the market wt>akened, and during the last three months there was little active d , mR.nd from any quartn and rates , ulP.d so low as to induce considenble shipment, of coin from abroad. The large excess in the exports ul the couat.ry over the imports was gent,r&lly believed . to have bad a1, '-mportant bearing on the rates of exchan~e.  In 1874 ratee for  ■terling  JS74. January. February. March. 60 a 60 3 60 '3 Month. days. days. days. days. days. days. 1.... Holiday. . .... s . . . ... ..... s •. .. 2 ...• 4.83 4.87 4.84 4.87¾ 4.84½ 4.88 8 .... 4.82¼ 4.86¼ 4.84¼ 4.88 4.84¼ 4.88 4 . ... ....• s ...••• 4.85 4.88¾ 4.84 4.87¼ IS . .•• 4.83 4.87 4.85 4.88¼ 4.84¼ 4.88 I.. . 4.82¼ 4.S6¼ 4.84½ 4.88 4.84¾ 4.88 'l • . . • 4.62 4.86 4.8'1,¾ 4.88 4.84¼ 4.88 8 ..•. 4.82¼ 4.86 ... . S .......... S.. 9 .... 4.83½ 4.87 4.84 4.87¼ 4.84½ 4.88 10 .••• 4.83½ 4.87 4.84¼ 4.88 4. 84¾ 4.88 11. ••. .... S..... 4.85 4.88;.( 4.84½ 4.88 JI . ... U3¥ 4.87 4.85 4.RK½ 4.84½ 4.88 ta . .. 4.83¼ 4.87 4.85¾ 4.89 4.84½ 4.SP 14 .... 4.83 4.l-16¼ 4.85¼ 4.89 4.85 4.88}. 15 .. 4$3 4.8fi¼ .S . . ..••.... . S . . .... 16 .. . 4.84 4.87¼ 4.85 4.88¾ 4.s;-.5 4.8R; 17 . ... 4.84 4.87¼ 4.85 4.88½ 4.85 4.8">, 18 ..•. ..... S..... 4.85 4.89)4 4.85 4.88_;., 19 .••• 4.94 4.87¼ 4.85 4.il8½ 4.85 4.88 20 . ... 4.83 4.86¼ 4.85 4.SS¼ 4.85 4.88 21. .•. 4.83 4.P6¼ 4.85 4.1:18,½ 4.85 4.88 ~2 .... 4.84 4.88 .... S . . ... . . .. . S... .. 23 .••• 4. ~4!.f 4.88 Holidav. 4.85 4.88 24 .•. 4 84¼ 4.88 4.85 4.88,¼ 4.85 4.88 25 .•••.. . . S •..... 4.84½ 4.S8 4.85¾ 4.8SX 26 . ... 4.83¼ 4.87 4.84 4.87¼ 4.85¼ 4.fIBx fl7 . ..• 4.84 4.87¼ 4.84 4.P7¼ 4.85½ 4.88}\ 2'L . 4.84¼ 4.88 4.84 4.~7¼ 4.85¼ 4.88,x 29 .••• 4.84¼ 4.1:sR .•... S. . . :.JO ••• '1.84 4.87¾ 4.1=:5 4.88 'l l. .•. 4:.84 4.87¼ 4.81 4.88 Da:, of  Aprfl. May. June. July. August. September. October. November. Decembe>r. 60 3 fiO 3 60 3 60 3 60 3 60 3 60 3 60 a 60 8 days. days. days. days. days. days. days. days. days. days. days. days. days. days. days. days. da1·s. days. 4.8ci¼ 4.&l¼ 4.8::i 4.91 4.8::i¼ 4.91½ 4.88i.: 4.91 4.89 4.:iO¼ 4.S7 4.8~½ ~. 85 4.88 . .... s •..... 4.85¼ 4.90~ 4.85¼. 4.88¼ 4.88 4.91 4.88.Jt 4.\:ll½ -l.88¼ 4.91 ..... S.... 4.87 4.'39¼ 4.'35¼ 4.88¾ 4.84¼ 4.8S 4.85¾ 4.90½ Holiday. . ... . S ...•.. 4.81:i¼ 4.!l1¼ . ... 4.90¼ 4.88 4.90¼ 4.87 4.89¼ 4.85¾ 4.88¼ Holiday 4.85 ½ 4.9 '¾ 1.85¾ 4.88¼ 4.88 4.91 4.88¼ 4.91¼ Holiday. 4.88 4.90¼ 4.8n'14.89 ...•. S •.... 4.64¼ 4.88 4.85¼ 4.90~ ..... S . ..... 4.8~ 4.91 4.8:3¼ 4. •1¼ .. .•. S. . . . ·1.88 4.90½ 4.86>1i 4.89 1.85¼ 4.88¼ 4.85 4.88}; 4.85¼ 4.90 4.85½ 4.8R¼ 4.88 4.91 4.88¼ 4.\H¼ 4.8::! 4.90¼ 1.88 4.91 ..... 8 .. .•.. 4.86 4.S!l 05 4.88¼ . .... ~- ... 4.85¾ 4.~½ 4.88 4.!ll .. .. S ... .. . 4.~8 4.9,l¼ 4.87¾ 4.91 4.86 4.88,¼ 4.So 4.89 4.85,3' 4.89 4.85½ 4.90¼ 4,85¼ 4.8..,¾' 1.88¼ 4.91¾ 4.89¼ Ull¼ 4.87¼ 4.90 4.87¼ 4.91 4.85¾ 4.98 4.85¼ 4.88¾ ..... 8 •.... 4.85½ 4.90½ 4.85½ 4.98¼ 4.88¼ 4.91¼ 4.88 01 4.87¼ 4.90 ... S ...... 4.Q5 4.Si¼ 4.85½ 4.8~¼ 4.85\14.89 4.85¼ 4.90¾ 4.~5¼ 4.88 '4 ..... S ..... 4.8-l 4.9 l 4.87¼ 4.90 4.87¼ 4.91 4.85 4.87¼ 4.85¼ 4.t:!8¼ 4.85½ 4.89 4.85¼ 4.90¼ 4.85¼ 4.88¼ 4.88,¼ 4.91¼ 4.88¾ 4.91 '1.87¼ 4.\10 4.87¼ 4.\/1 4.81 4.86~ .... . S ..... 4.85½ 4."9 4.85¼ 4.!lO¼ ..... S ...... 4.83 4.91 4.1<8 4.91 ..•. S . ..• • 4.87¼ 4_:11 4.8t 4.86¼ 4. ~5 4.88 4.i!6 4.89¼ 4.t:-5½ 1.90¼ 1.85 4.88 4.88 4.91 4.88¾ u1 4.87¼ 4.90 4.8-:¼ 4.91 .. •.. s . . ... 4.84¼ 4.87¼ 4.86¼ 4.9o . ... •s ... .. L85¾ 4.88¼ 4.88 4.91 ... .. 8 ... . 4.87¾ 4.!lO 4.87¼ 1.!11 v,4 4.flfi¼ ~.Bl¼ 4.87¾ 4.86¾ 4.90 4.85¼ 4.90¼ 1.65½ 4.83¼ 4.88¼ 4.91¼ 4.Sq¼ 4.91 4.87 4.89¼ 4.87¼ 4.91 4.84 4.86¼ 4.81¼ 4.88 .. . S ...... 4.&5¼ 4.!10¼ l.'~n¼ 4.88¼ 4.88,¼ 4.91¼ 4.89 4.!ll¼ 4.87 4.8q¼ . .S.. . . 4.84,¼ -t.87 <1.85 4.88.),{ 4.87 4.91 4.85;.,f 4.90), 1.85¼ 4.88¼ .... . S .... . 4.89 4.\ll¼ 4.87¼ 4.9C 4.87¾ 4.91 4.~.t¼ 4.87 4.85 4.8:l)<i 4.8fi¼ 4.90¼ 4.85 ½ 4.90.)f 1.85,¼ 4.88¼ 4.88¾ 4.91,¾' 4.88¼ l.91 4.87¼ 4.90 07¼ 4.91 4.84,½ 4.87 .... . S . .... 4.86 4.!10 4.85}6 4.90\\ . .... S .... .. 4.88¼ 4.!11¾ 4.S-;¾ 4.91 ..... ::!.. 4.87 ~ 1.91 4.84¾ 4.87 4.85 ~.88¼ 4.85¼ 4.8!1¾ 4.8~¼ 4.90~ l.'<6 4.89 1.8-i¾ 4.91¼ 4.88¼ 4.!ll 4.87¾ 4.!10 4.S7¾ 4.91 .. . .. S...... 4.85 ,; 4.89 4.86 4.90,¾ .... S .... . 1.86 4.89 4.8.:l¼ 4.\Jl¼ ..... S. . . . 4.'i:,¼ 4.90 4.87¼ 4.91 4.84¼ 4.87 4.85¼ 4.89 4.86 4.90,¼ 4.>'5¼ 4.90~ 1 .S6 4.89 1.88¼ 4.91½ 4.88,½ 4.91 4.81¼ 4.90 4.81¼ 4.91 4.84¼ 4.8~ 4.85½ 4.8!1 ..... S .. . . . 4.85¼ 4.90¼ 1.86 4.89 4.88¼ 4.91¼ 4.88¼ 4.9i 4.87,½ 4.90 ..... s ...... 4.84¼ 4.87 4.85¼ 4.89 4.86 4.!lO¼ 4.8n¼ 4.90½ l.86,½ 4.8!1¼ . .... s ...... 4.8~¼ 4.91 4.88 4.9::>½ 4.87¼ 4.91 4.84 4.86¼ 4.85,½ 4.89 4.86 4.90¼ 4.fl6 4.90¼ 1.86¼ 4.89¼ 4.88¼ 4.91¼ 4.88¼ 4.91 4.88 4.'10¼ 4.87¼ 4.90¼ 4.84 4.8fi¾ .. . S•..• . 4./:6 4.90¼ Holiday. . .... S...... 4.q8¼ 4.!ll¾ 4.88,¾ 4.9! .. . . S ...... 4.8,¼ 4.!10¼ 4.81¼ 4.87 4.85¼ 4.89 Holiday. =1.86 4.HO¼ !.SS 4.!ll 4.88¾ 4.~'1¼ 4.68¼ 4.Jl 4.88 4.!lO¼ 4.b7½' 4.90¼ .... S ...... 4.85 4.88.½ 4.86 4.!lh¼ . . . . . S .... . 1.87¾ 4.90¼ 4. -<8,½ 4.!11,½ ..... S. . .. 4.83 4.90,, 4.87~ 4.90¾ 4.81¼ 4.87 4.85 4.88¼ 4.86 4.90,¾ 4.86 4.90½ 1.87½ 4.90.,, V!R,½ 4.!H,½ 4.88¾ 4.91 4.~8 4.90~ 4.87¾ 4.90¼ 4.84¼ 4.87 4.81 4.87¼ ... .. S.. .. 4.E6 4 90~ 1.87¼ 4.90,~ Holiday. 4.88¼ 4.91 4.8-l 4.!lO.½ . . S . ..... 4.85 4.8'1'¼ 4.84¼ 4.88 4.85¼ 4.00¼ ~86 4.90½ ••.•. S...... 4.88 4. \JO¼ 4.81¼ UO 4.843' 4.88 4.6ti 4.9tJJf  ISio. January. February. March. April. May. June. J uly. August. September. October. November. December Day of 60 3 60 3 60 3 60 3 60 3 60 3 60 3 60 3 60 3 60 3 60 3 60 3 Month. days. days. days. days. days. days. days. dayi!. days. days. days. days. days. days. days dr,ys. days. days. days. days. days. days. clays. dayia. 1 . . . Holiday. 4.87 4.8 ½ 4.83 4.87 4.83½ 4.87½ 4.88 4.91 4.87½ 4.!lU½ 4.87½ 4.9l'½ .... S .. 4.85 1.88 4.80 4.84 4.79 4.84 4.83 ½ 4.87 ... .. S ..... 4 87½ 4.90½ 4.Si½ 4.90 ½ 4.87½ 4.90½ 4.85½ 4.88½ 4.80 4.84 Electn H'y 4.~4 4.87 2 ... 4.Sli 4.!:IO½ 4.87 4.90 4.8l½ 4.81i½ 4.85 4.89 .s .... . 4.87 4.90 4$3 4.86 4.85 4.89 4.88 4.91 4.87½ 4.90½ 4.87½ 4.90½ 4.87½ 4.90½ 4.85½ 4.881/i . . s . .... 4 81 4.'6 4.8! 4-1<7½ 3 .... 4 ... 4.86 4.!lO½ 4.86½ 4.89½ 4.81 4.85 S.. . . 4.88 4.91 4.87½ 4 90½ .... . S. . . . 4.87½ 1.90½ 4.85½ 4.88½ 4.79½ 4.83½ 4.81 4.86 4.84 4.87½ ..... S..... 5 ... 4.86 4.!JO½ 4.86 4.89 4.81 4.85 4.85½ 4.89½ 4.88 4.91 4.87½ 4.90½ Holiday. 4.87½ 4.90½ ..... S . ... . 4.78½ 4 82½ 4.80 4.86 6... 4.8ti 4.90½ 4.So 4.89 4.81 4.85 4.86 4 90 4 88 4.91 ..•.. S . . .... 4 87½ 4.90½ 4.87½ 4.90½ 4 85 4.88 4.80 4.84 4.1:lO 4.86 4.84½ 4.88 .... . S .... . . 484½4.8::! 7 .... 4.86½4.90½ ..... S ...... . .. S .. . . 4.86 4.90 488 4.91 4.87½4.90½ 4.8,½4.90½ 4.87½4.90½ 4.85½4.88½ 4.80 4.84 8 .... 4.Si 4.90 4.86 4.89 481½4.85½ 4.86½4.90½ 4.88 4.91 4.87½ 4.90½ 4.8 ½4.90½ ..... S . . • • 4. · 4 4.87 4.80 4.84 4.80½4.86½ 4.84½4.88 9 ... 4.86 4.\10 4.S•i½ 4.89½ 4.81 4.85 4.86 4.90 .S.. . . 4.87½ 4.90½ 4.8i½ 4.90½ 4.87½ 4.90½ 4.83 ½ 4 86½ 4.80 4.84 4.82 4.87½ 4.84½ 4.88 '!J . .••. .... S.. 4.85½ 4 88½ 4.80 4.8, 4.86 4.90 4.88 4 91 4.87 ½ 4.90½ 4 87½ 4 90½ 4.87½ 4.90½ 4.8t 4.85½ .. s.. . . 4.1:ll½ 4.tl7 4.84½ 4.88½ 11 ... 4.8 i 4.90 4.84½ 4.8,½ 4 80 4.84 .s .. . ... 4.88 4.91 4.87½ 4.90½ ... ' . . . 4 87½ 4 90½ 4.81 4.85 4.80 4.8! 4.83 4 88 4.84½ 4.88~, 12 . .. . 4.86½ 4 !JO½ 4 84 4.87 4.82 4.86 4.86½ 4.90½ 4.88 4.91 4.88 4.91 4.87½ 4.90½ 4.88 4.90½ . . . S . . . 4.80 4.><4 4.83 4.88 ... S .. ... 13 .. 4.8fi½ 4 90½ 4.84 4.87 4.8t 4.86 4.8fi½ 4.90½ 4.88 4.91 ..... S ..... 4 87½ 4.9 ½ 4.87½ 4.90 4.81½ 4.F-5½ 4.80 4.84 4.83 4.88 4.85½ 4.>9½ l4 .... 4.8o½4.90 .S .... . ..... S ... .. . 4.87 4.90½4.87½4.90½4.88 4.91 4.87½4.90½487½4.90 °.81 4.85 4.78½4.83 ..... S . .... 4. · 5½4.9½ 15 ... 4:8fl½ 4.90 4.81 4.87 4.81 4.85 4.87 4 90½ 4.87 4.90 4 88 4.91 4 87½ 4.90½ ... S ..... 4.60 4.HI 4.7i 4.:-2½ 4.f4 4.88 4.85½ 4.89½ 4.88 4.91 4.87½ 4.90½ 4.87'½ 4.90 4.79 4.83 4.7 ·½ 4.83 4.84 4.8{ 4.85½ 4. t 9½ 16 . ... 4.86½ 4.90 4.Sl½ 4.85½ 4.79 4.83 4 s: 4.90½ ..... S. 17. ... . . .S.. 4.80½ 4.83½ 4.79½ 4.83½ 4.87 4.90½ 4.87 4.90 4.88 4 91 4.87½ 4.90 ½ 4.86 ½ 4.89 4.81½ 4.85½ ... . . S.. . 4.84½ 4.88½ 4.fi5 ½ 4. \I½ 18 .. . • 4.87 4 90½ 4.&'3½ 4.87 4.79 4.83 . .S. . . 4.87 4.90 4.88 4 91 ... . S . .. . . . 4.86½ 4 89 4.81½ 4.85½ 4.7d½ 4.F3 4.-4½ 4.88 4.85 ½ 4.89½ 19 . ..• 4 87 4.90½ 4.83½ 4.87 4.80½ 4.84½ 4.87½ 4.90½ 4.8 :½ 4.90~iz 4.88 4.91 4.8 ½ 4.9 '½ 4.87 4.89½ .... S ..... 4.77½ 4.82 4.84½ 4.88 . . ... 8 .... 21. ••• 4.8 7 4.90½ 4 83½ 4.87 4.81 4.85 4.87½ 4.90½ 4 87½ 4.90\iz ... . . S . ..... 4 87 4.!:lO ,1.87 4.89 ½ 4.79 4.83 4.77 4R1½ 4.t:4½ 4.88 4.8 ½ 4.R9½ 21.. .. 4.87 4.90½ ..... ::! . • . ..... S ..... 4.8i½ 4.90½ 4.87½ 4.90\lz 4.87½ 4.90J.i 4.87 4.90 4.87 4.89½ 4.80 4.84 4.77 4.81½ .... S . .... . 4.86 4.90 22 .... 4.87 4.90½ Holiday. 4.81 4.85 487½4.90½ 4.8 i½4.90!iz 4.87½4.90½ 4.87 4.90 . S ..... . 4.80½4.8.t½ 4.79 4.S:.l½ 4f4 4.87½ 4.86 4. 9¼ 23 ...• 4.87 4.\,0½ 483 4.8fi½ 4.81 4.85 4.88 4.91 ... . . s. · 4.87½4.90½ 4.87 4.90 4.87½ 4.90 4.79 4.83 4.79¼4,84 4.84½4.~8 4.8."J)1 4. · 9 . . S. •.t-l4 ½ 4.•8 4.H !<:· 4.l-9 24 ..... . . . . S .. . ... 4.83 4 86½ 4.82 4.86 4.88 4.91 4 87½ 4.90½ 4.87,½ 4.90½ 4.87 4.90 4 87½ 4 90 4.81 4.85 25 . ... i .87 4.90 4.83 4 86½ 4.81½ 4.86½ .S ..... 4.87½ 4.9(% 4.Si½ 4.90½ . S.. 4 87 4.89½ 4.81 4.85 4.~0½ 4.·5 Thanksgi'g. llohday. 26 . .. . 4.87 4.90 4.83 4.8' Good Friday 4.88 4.91 4 87½ 4.90½ 4.87½ 4.90½ 4.87 4.90 4.87 4.8!! ½ .S .. . .. 4.80 4.84½ 4.84½ 4. l:l .... S . ... .. . Z"l .••. 4.87 4.90 4.83 4.;;:· 4.82 4.86 4.88 491 4.8 i½ 490½ .... . S . .. .. 4.8l 4.91 4.87 4.89 ½ 4.80½4.84½ 4.79 •. ·3½ 4.84½4.i-8 4.'- ½ 4 H 28 . .. . 4.87½8 .90 .... . S ..... .... . S.. . . 4.88 4.91 4 Si½ 4 90 ½ 4.87½ 4 90½ 4.87 4.90 4.87 4.89 ½ 4.80 Vi4 4.7 ~ 4.82½ ..... S ..... 4.85J<i 4. 9 29... 4 87 4.8\J½ ............ 4.79 4 83 4.88 4 91 4.87½ 4.90½ 4.87½ 4.91½ 4.87 4.90 . . . S ... ..• 4.79 4.83 4.7~ 4.83 4.R4½ 4.88 4.i-5.x; 4.89 . . S. . . 4.87½4. 90~ 4.87½ 4.9J½ 4 86½ 4.89 4 79 4.83 4.73 4.83 4.~8½ 4.87 4.84½ 4.l-8;t 30. •• 4.87 4.8~½ . . .......... 4 82 4.86 4.88 4.9l 11. ... .... . ..... . ........... . 483½ 4.R7½ . .. . . . .. . .. Hulicla_y. . . . .. ...... . ,.&~½ 4.90½ 4.85½ 4. . .... S.. . .. . . .. .... 4.85 4.8!1  1§76.  1.... 2 .. a ..•• 4 . .. 5 ... 6 . .. 7 .••• 8 .••• 9. •. . 10 ..•. ' 11 .•. 12 .••• 13 .••• 14 ..•. 15... 16. •• 17 •. J8 . .•• 19 ...• 20 .••• :?1 . .•. 22 . ... 28 •••  2i . ...  25 .••• 21> .••• ',fl .. .. 28 .•• 99 .••• j0.... al. ...  January. 60 a days. da\'s. Ho iday. S. 4.85 4.89 4.85 4.89 4.t½ 4. ½ . ¾ 4.85 4.9 4.85 4.89 S. 4.85 4.89 4. ·4½ 4 88¾ 4.84½ 4.>111½ 4.84¼ 4.88,½ 4.8 • 4.89 4 85 4.89 S. 4.85 4."9 4,85 4 89 4.f-5 4.89 4.85¼ 4.8!1½ 4.85½ 4 89½ 4.95¼ 4.89¼ s. 4.<::5½ 4.8')¾ 4.86 4.89¼ 4.86 4 89¼ 4.' 6 4. "!l¼ 4.86 4.89¼ 4.86 4.89¼ S. 4.86 4 89¼  n~½   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  February. tiO 11 days. days. 4.8i½ 4.90 4.86 4.Sfl½ 4.86 4.8!1½ 4.86 4.89½ 4.85 8 4.8!l¼  March. 60 3 dayi!. day •. 4.86 4.90 V6½ •.9·11/s 4.86 4.!lO 4.8'> 4.90 86 s4 90  . -1 . " 4.86 4.'9¼4.!l6 4.!10 4.86½ 4.YO 4.86 4.90 4.8'> 4.-9~ 4.Rf) 4 90 4.S6 4. •9½ 4 86 4 90 4.8_6 4 90 4 Si 4 90 4.86 4.l/J S. S 4.'6¼' 4.!10 4."6 4.'·0 4. ~6½ 4.90 4.86 4.90 4.86X 4.90 4.P6 4_!.10 4 8h½ 4.90 ' . 4.86 4.90 4.87 4.!l0l1 4.86 4.90 4.b7 4.90½ 4.86 4.90 S. S 4 87 4.90,½ 4 P6½. 4.90½ 4.87 4. !lO½ H oliday. 4.87 4.90¼ 4 86½ 4.90½ 4.87 4.90 4 8~½ 4.90½ 4.87 4.90 4.86 4 90 4.87 4 90 4.86 4.90 S. S. 4.87 4.90 4.86 4.90 4.87 4.!lO 4,85 4.90 4.87 4.90 . ••. •••••••• 4.87 4.90 ._ •. •••. .. • 4.87¼ 4.UO  April. 60 3 days. days. 4.87½ 4.9ll :-.. 4.87,½490 4.87,¾ 4.' 0 !l½ 4 90 • 7"9 4.90 4.87½4.9n 4.d7½ 4.90 S. 4 87½ 4. 90 4.r,7_½ 4.HO 4.8i¾ 4.' 0 4.ll7½ 4.90 4.87½ 4.91 4.87½ 4.90 S. 4.87½ 4. 0 0 4.87¼ 4.90 4.87¼ 4.90 4.88 4.90 4.88 4.90 4. ►. 8 4.90 s. 4.lIB 4.90 4.88 4 90 4.8:1 4.'.10 4 88 4.!10 4 88 4.90 4 88 4.90 S. •• .•••••. •  May.  June. 60 3 oo 3 days. days. days. days. 4.8~ 4.90 4 88 4.90 4.88½ 4 90½ 4.88 4.90 4.8 ·¾4.BO½ 4.88 4.\10 4.8 ½ 4.!:0½ S 4.88½ 4.90½ 4 88 4,90 4.88;,., 4.9u½ 4.P8 4.90 S. 4.88 4.<!0 4.8'-¼ 4.!JO¼ 4.88 4.90 4.8~½ 4.SO½ 4.88 4.90 4.88½ 4.90¼ 4.::lS 4.90 4.88½ 4 ''0½ S. 4.&; ~~ 4 90½ 4 88 4.90 4.8~½ 4.liO½ 4.88 4.f/0 S. 4.~8 .J.90 4.8"¾ 4.!lO½ 4.88 4.!)0 4.88½ .J.90¼ 4.88 4.!10 4,88½ 4.t O,ig 4.88 1.90 4.88½ 4.90½ S. 4.8'% 4.90,1, 4.P8 t.90 4.88½ 4.90½ .88 4 90 S. '38 4.90 4.8!l½ 4.90½ ,.88 4 90 4.88½ 4.90¼ 4.~8 4.9o 4.88 4 90 4.88 4.90 4.88 4.90 S. 4. 'fl½ 4.9ll,½ 4.88½ 4.90,¾' 4.88¼ 4.90½ 4.88~ 4.9 '½ ::-l. 4.88½ 4.90 .lz 4)18'4 4.90½ 4 gq"9 4.90¼ Iloliday. 4. 88¼ 4.90½ 4.8d 4.90 ... .. ..•. . •.  Jnly. Augur.t. ::k!)tember. Octob :ir. oo a oo a 6J 3 6'.l 3 dny~. d•1ys days. day ... days. days. days. days. 4.88½ 4.90½ 4.88~ 4.90½ 4 87 4.88'1 S. S, 4.88½ 4.!lO½ 4 8i 4. · 8½ 4.83 4 84½ 4.88;f 4.rl11½ 4.8,½ 490½ S. 4.K:J 4.8i.J.i H liday. 4.88½ 4.- O½ 4.86½ 4.88 4.S.'3½ 4.85 4.88~ 4.90¼ 4 88¼ 4.\JO½ l. P6,½ 4.88 4$l½ 4.85 4.88,¾ 4.90½ S. 4.86 4.87½ 4.83~ 4. 5 4.81"l½ 4!l0½4.88½4.90½4.85½4.87 4.83½4.85 4.88½ 4.90}1 4 88½ 4_!.JO½ 4.8:\• 4.8fi¼ S. S. 4.88 4. 90 4. 85 4.66½ 4.83¼ 4.85 4 81 4 91 4.8~ 1.90 S. 4.8t 4.85½ 4.89 4.91 4 8 ~½ 4.>!l½ 4.84 4 85½ 4.84 4.85½ 4.8'.I 4.91 4.87½ 4.89;~ 4.81 4.85½ 4.84 , %½ 4.89 4.!:11 S. 4 84 4.85½ 4.84 4.85½ 4.89 4.!11 4.87½' 4.89½ 4 84 4.85½ 4.84 4.85.½ 4.89 4.91 4.87½ 4.8!J½ 4.8'1 ½ 4.85 8. S. 4.87½ 4.8.J½ 4.83½ 4. 5 4.84 4.<l5¼ 4 89 4.91 i 87½ 4.f-l!l½ S. 4.84 4.85½ 4.o9 4.9! 4.8i"¼ 4.81½ 4.83½ 4.85 ~.84½ 4.81i½ 4.81 4.91 4.87½ 4.89;,,; 4.S::l½ 4.85 4.8 l¾ 4.·5½ 4.89 4.9t S. 4. "3¼ 4 85 4 Si ½ 1.85¾ 4.8 I 4.91 4 87½ 1.89¼ 4.83 4. 4½ 4.S::l½ 4 85,½ 4.89 4.91 4.88 4 9 J 4 <;a 4.i:4½ S. s. 4.88 4.90 4.8~ 4. 84½ 4.83¼, 85½ 4.88½ 4.!lO¾ 4.88½ 4.90 S. 4.1-3½ 4.85½ 4 88¼ 4!::0½ 4.8~,½I 1.9 I 4.83 4.84¼ 4.83.),{ 4.85½ 4.88½' 4.90½ 4.88 4.89)2 4.rn 4.8 ½ 4 83 4.85 4.88½ 4.90½ S. 4.83 4.8-1½ 4.8:3 4.85 4.88½ 4.9::l½ 4.88 4 8914 4.8:3 4 8l¼ 4.82½ 4 84¼ 4 88½ 4.90½ 4.'<d 4 891<} 4.83 4.841.£ s. s. 4 88 4.d9 ½ 4.~ 4.84½ 4.8!¼ 4 8 ·½ 4. ::8~ 4.!l' ½ 4.87¼ 4. t 9 .••.••.•.. 4.82}( '•84¼  November. 60 a 6·,ys. da ys. 4. 81½ 4 84½ 4.8l <i 4.H4½ 4. ' 2,¼4.8 ·½ 4.82½ 4.84½ s. 4.81 4.84 Holidnv. 4.82 4.84 4.82 4 81 4.82 4.1-:4 4.Si 4.81 8. 4.82.½ 4.84¼ '1.8t½ 4.84,½ 4.8~½ 1.841.J 4.8!½ 4.84½ 4.82,¼ 4.fi4½ 4.82¾ 4.84½ S 4 82½ 4.84¾ 4.8l¼ 4.84¼ 4.8t~ 4,84¾ 4...2 4 84 4 .82 4 84 4.82 4.84 S. 4.F2 4.84 4.82 4.84 4.8! ~.84 Holiday. •• . • •••• .. . •  Deccmbe, 60  3 ·  ds.ve.. dnvs. 4.82 4.84 4.82 4.84 S. 4.82 4.84 4.82 4.8-t 4.82 4.84 4.82 4.84 4.82 4.84 4.82 4.84 s. 4.82 4.84 4.82 4.84 4.82 4.84 4.82 4.84 4.82 4.84 4.82 4.84 S. 4.82,¾ 4.841i 4.82¼ 4.84 '•, 4.82¼ 4.84½ 4.82½ 4.84,.. 4.83 4.85 4.83 4•85 s. Holiday. 4.83½ 4.8.'5½ 4.83¼ 4.85 ½ 4.84 4.86 4.84 4.86 4.84 4.St! 8.  FOREIGN EXOH.AN0E.  25  • Jll'r7;:-1878:-l8'19. In 1877 exchange ruled quite steady in the early part uf the year, but after July, as the large crops began to come in and -exports of domestic products were large, the price declined and ruled low during the balance of the year. Except for the return of United States bonds from abroad, the price would probably have been lower and the imports of specie would have been larger• .1.6 /8.--ExchangP- was much influenced throughout the year by the h eavy exports of dome;;tic produce. I~ the first six months there was a large movement in United States bo nd ➔ returned from foreign markets. which gave rise to a considerable demand for bills, that supported prices. In the last half of the year exchange generally ruled at low figures. 1879.-During the f'arly part of the year the rates for sterling bills were made firm by the h eavy return of called bonds from abroad ; and after February demand st,erling bills were often quoted in the bankers' posted rates at 4 89 ½@4 90, and there was apprehension that specie would be exported to a considerable amount. There was no large export of specie, however, and in the latter part of July, after the last call for bonds had mat ured, rat.es of exchange fell off rapidly to a point which admitted of the imports of specie, and so remained throughout the year. The excess of exports over imports in the fiscal year ending June 8(), 1879, was about $270,000,000. -The specie imported at New York in 1879 was $34,176,764, and the export was $14,454,343. January.  February.  March.  April.  May.  1sn.  Jnn•. Jnly. A11g11st. September. October. Day of 60 8 60 8 &O a 00 s t10 8 60 a 6~ 8 60 3 60 8 f.O 8 Month. days: day,. days. day11. days. days. days. days. days. day1 days. day~. days. daye. days. day,. day11. days. days. d ey1. 1. •• . Holiday. 4 85 486¼ 4 83¼ 4.8~ S. 488 4 !lO 4 ~s 4 911¼ S. 4 ll6 07¼ 4 88¼ 4 Sti¾ 4 8~ H5¾ I... 4 84 4 rl6 4 85 4 86¼ 4 84 4 8~¼ 4 84~ 4 86¼ 4 88 4 90 4 88 490¼ 4 88 UO¾ 4 86 4 1'7¾ S 4 82 485¼ 8 ..•• 4 84¼ 4 86¼ 4 Si 4 86~ 4 84 4 85)1 4 85 4 87 4 88 41,0,¾ S. 4!18 4 !!0¾ H51" 4 87 4 83~ 4 86¾ 4 SI H5¼ 4 . ... 4 84¼ 486½ 8. S 4 85¼ 487¼ 4 8>< 49, ¼ 4 88 4 90¼ Holiday. 4 85¼ 487 4 8~¾ 4 85¾ 4 81 485 5 .. • 4 l:!4~ 4 86¼ 4 85 4 86¼ 4 Si 4 85¼ 4 ~5¼ 4 871/, 4 88 4 90~ 4 88 4 !l •¾ 4 BS 4 !10¼ S. 4 1-12.)t 4 ~5¼ 4 81 4 85 6 . ... 4 84¾ 4 86¾ 4 85 4 86¾ 4 84¼ 4 86 4 86 4 83 S. 4 88 4 9il_¾ t 1-i 4 !:01/, 4 85¾ 4 87 4 83 4 8li 4 81 4 85 7.... s. 485 486½ 484¾486 486 488 488 490¼ 488 4ll0¼ 488 490~ 485¼487 488¼486¼ 8. 8 .••• 4 81¼ '86¼ 4 1"5 4 86¼ 4 84¼ 4 Sli S. 4 87)( 4 90 4 88 490¼ S. 4 t!f>)t 4 87 4 33¾ 4 86¼ 41:11 4 85 9 ... 4 84 4 86 4 85 4 Bti¾ 4 84½ ~ 86 4'86¼ HS¼ 4 87¾ 4 !10 4 88 4 90½ 4 87¼ 4 90 4 8!i¼ 4 87 S. 4 81 4 85 10 ..• 4 84 4 81i 4 85 4 86¼ 484½ 4 86 4 87 4 SW 4 Si¼ 4 !lO S. 4 87,¼ 4 90 4 85 4 86¼ 4 ~8¾ 4 86½ 481 4 85 11 .••• 4 88¼ 4 85½ s. s. 4 87 4 89 4 87¾ 4 90 4 88 4 90¼ 4 87¾ 4 90 4 t:i5 4 86,¼ 4 83¼ 4 ~1 4 61 4 85¼ S. 4 83 ~ 4 8? 4 81 4 Sri 12 .•• 4 8-~¼ 4 85¼ 4 Si¼ 4 86 '84¾ 4 86 4 Sri¼ 4 88¼ 4 87¾ 4 90 4 88 490¾ 4 871/, 4 89)1 18 .•.. 4 88¼ 4 '35.¾ 4 84)( 4 86 4 84½ 4 86 4 Si' 4 89 S. 4 88 4!101/s 487 H-9 4 '.·5 Hfi¼ 4 ~3½ 4 87 4 81 4 86 14 . • • S. 4 84¼ 4 86 4 84)'.i 4 86 4 87 4 89 4 87¼ 4 90 4 88 4 00¼ 4 67 4 89 4 84¼ 4 86 4 ~81/s 4 87 S. 1{> . .. 4 8:3½ 4 85)1 4 84 14 1 86 4 84¼ 4 86 S. 4 87 ,, 4 90 4 8~ 4 90¼ S. 4 84¼ 4 ~6 4 88½ 4 87 4 Rt 4 86 16 . . 488,½485¼484¼486 481~4861/,487).(489¾487¾490 488 490¼ 486¾488¾484 4 :-6 s. 481 486 1'7 . . 4 83½ 4 85¼ 4 84¼ 4 86 4 84½ 4 86¼ 4 87¼ 4 811¼ 4 81¼ 4 90 S. 4 Sn 4 &~ 4 84 4 86 4 83¼ 4 '7 4 81 4 86 18 ..•. 4 · 3½485~ S. S. 481¼H9¼4F18 490¼48e 49'1¼485¼48'i¼484 486 488~487 481 481\ 19 ..•• 4 83¼ 4 85¼ 04 485¼ 4 84}.f HG½ 4 87¾ 4 89¾ 4 88 4 90½ 4 88 490¾ 4 86 4b7j, S. 4 88¼ 4 87 4 81 4 86 20 .••• 413½ 4 85¼ , 84 4 85¼ 4 84½ • B&¼ 4 88 4 9'> s. 4 88 4 90½ 4 86 4 67¾ 4 8s ~ 4 Bo¼ 4 a:1¼ 4 87 4 s1 4 8tS il.... ., . 483¼485 484.!i486¼ tt!8 490 48~ 490¾ 488 4!10¼ 486 487¼ 483 485 4 i,:H,4 rl7 S. t-i ... 4 83½ 4 85¼ Holiday. 4 84¼ 4 86¼ 8. '88 4901/s 4 83 4 90~ S. 4 83 4 8j 4 83¼ 4 87 4 81 4 86 18 ..•• 4 84 4 86 HS¾ 4 85 4 84¼ 4 86¼ 4 83 4 90 4 88 4 90¼ 488 4 90¼ 4 86 4 87J, 4 S~!>Q 4 85 S. Ht 4 86 24 . .•. 4 84 4 85,Jf 4 881/, 4 65 4 84¼ 4 86¼ 4 88 490 4 ><8 4 90¼ S 4 86 f 4 82¾ 485 4 83¼ 4 81 4 81 486 25 ..•• 4 81 4 853' S. 8. 4 88 4 1:10 4 88 4 90¾ 4 88 4 !lO½ 4 Bti 4 87~ 4 82¾ 4 85 4 88~ 4 S'i 4 81¼ 4 86 26 . • 4 84" 4 86 4 831/s 4 86 4 St¼ 4 86¼ 4 88 4 90 4 8d 4 90¾ 4 88 4 9:•¼ 4 Si 4 ti73' s. 4 8-3 4 863' 4 81¾ 4 88 27 .••• 484¼486 488~485 484>,486Jt48S 490 !'<. 488 490.J.48ti 4h7)(48\l.!H85 481 486~481¼486 28.. •• t:i. 4 88¼ 4 85 4 84 4 136 4 8"! 4 90 488 4 901/s 4 !IS 4 !lO¾ 4 86 4 87.i, 4 82¼ 4 85¼ 482¼ 486 B. 29 .•. 4 8{1/, 4 86 ........... 4 84 ( 86 S. 4 88 4 9rt¼ 4 BS 4 90¼ 8. 4 82¼ 4 85¼ 4 82¼ HII 4 81 4 85¼ 80 ••.. 4 8~¾ 4 86 •••• •.•• •••• Good F i. 4 83 4!i0 Holiday. 4 88 4 90¼ 4 86 H7¾ 468 466 S. 4 81 48~1/s 81. ... 4 84¾ 4 86 . •..•••••••• 4 84¼ 4 8fi¼ . . . • . • . . . 4 88 HO¼ • • • • • • . ... '86 4 87¾ 483¼ 4 863' .....•••.••• 481 4 85¼ High . 484¼486¼485 486¼41-4J,486¼'88 ,90 48~ 490¼488 490¼468 490)1486 4ff1H488¼487 481 486 Low.. 4 83¼ 4 85¼ 4 83¼ 4 115 4 88~ 4 85 ( 84¼ 4 Sli¼ 4 87H 4 IIO 4 88 4 90¼ 4 85¼ 4 87}6 4 82¼ 4 86 4 Bi¼ 4 85~ 411 4 85  ·~¾  Nnvember. 60 3 daya. da:rs. 4 81 485¼ 4 81 4 85¾ 401 4 t 5.li S. 4 81 4 85 Holiday. 481 485 4h1 4 81¼ ( 81 4 84¼ 4 St 4 84¼  Decemt!r. rO  a  days days. 4bl,t 4 84¼ S. 4 81 4 84 4 81¼ 4 St~ 4 81¾ 4 84¼ 4 81¼ 4 84;( 48 1¼484¼ 4 81¼ 4 liS S. 4 8~ 4 85¼ s. 4 82½ .J86 4 81 4 81¾ 4 82~ 4 86 4 81 4 84¼ 4 SH~ 4 S6 4 Su¼ 4 84 4 82¼ .4 88 4 80¼ 4 a, 4 82¼ 4 88 481 (84¼ s. 4 81 4 81¼ ( 82¼ UIS S. 482¾486 ( 81 4 84¼ 4 8:-.1 4 66¼ 4 st , 85 4 88 4 86¼ 481 485 488 486¼ 4 81 4 85 HS 4 86¼ 4 81 4 85 8. 4 81 485 4 83 4 86J{ S. . H oliday. 4 81¼ 4 86 4 sa 4 81" 482 481"482~486 4 82 4 8j¼ H2H 4 86 Holiday. 4 82¼ 4 86 4 82 4 85 S; . . • • . . . 4 82¼ OS 482 4863"481 486H 4 80H 4 84 4 81 , 8'  1818. January. February. March. April. May. I o Day or li0 a 3 60 a 60 a 60 3 Month.days. days. days days. days. days. days. days. days. -0.11y~. i .•. Hol day. 4.82~ 4.8-¼ _,, 4.84¾ 4 tsti¾ 4.87¾ 4.90 4.r,7 4.89¼ 2 4.8 ~¾ 4.~6 4.82¼ 4.84,¾ U-4½ 4.86¼ 4.87 4.891/, 4. i-6½' 4.89 3 . .. 4.· 2 4 851/s S. S. 4.87 4.89½ 4.861/s 4.89 4 .... 4.82 4.85¼ -i.82½ 4.84)\( 4.84 , 4 86½ 4.87 4.891/s 4.8li¾ 1 69 5 . ..• 4.82 4.85½ 4. r-2½ 4.84¾ 4.84~ 4.86¼ 4.37 4.8!!~ S. 6 .. . S. 1.82½ 4 .• 4½ 4. 4½ 4.86¼ 4.87 4.8<J¼ 4.86½ 4.89 S. 4.86¾ 4.89 7 . .•. 4.82 4.8-'5 ¼ 4.82¾ 4.84½ 4.84~ ~.86¼ ~-··· 4.o2 4.85~ 4. ' 2½ 4.81¼ 4.8-i½ 4.86½ 4.87 4.89¼ 4 >-Ii ¼ 4.89 9 .••. 4.82 i.8>¾ 4.82¼ 4.84~ 4 8!¼ 4.861/s 4.86¼ 4.89 4.8fl¾ 4.89 10 .. .• 4.82 4.81 s. s. 4.87 ~.89¼ 4.86½ 4 89 11 .•• 4.81¼ 4.841/s 4.82¼ 4.84¼ 4.85 4.87 4.87 4.811¼ 4.8i½ 4.89 12 ..•. 4.81.¾ 4.84.lf 4.82¾ 4.84¼ 4.85 4 87 4.87 4.89¼ s. S. 4.82~ 4.84 4.85¼ 4.87¼ 4.87 4.89¼ 4.86¾ 4.89 13. . .. 14 . .•. 4.81¼ 413'1¾ 4.82~ 4.81½ 4.86 4.88 S 4.86 48 '½ 15 ..•. 4.81½ 4.8i½ 4.82½ 4.84½ 4.86 4.1"8 4.86¼ 4.83 4.85¼ 4. 1'8 16 .... 4.81½ 4.84 4 82~ 4.841/, 4 86 4.88 4. · ✓ .89 4 85¼ 4.88 17... 4.81,¾ 4.84 8. S. 4.86>, 4.89 4.86 4 88J.i 18 . ••. 4.82 4.84¼ 4 82¼ 4.81¾ 487 4.89 4. 4.89¾ 4.86 4 88¼ 19 4.82 4.84¼ 4.82¼ 4.81½ 4 87 09 G'd Friday. S. 20 . .. . s. 4.82¾ 4.84~ 4.87¾ 4.89¼ 4.87 4.89¾ 4.86 4.88¾ 21 ... 4.82 4.8t¼ 4.8:~ 4.85 4 87½ 4.811¾ S. 4 86 4. t 8½ 22 . .. 4.82 4.M_¾ Holiday. 4 87½ 4-~¼ 4.!i'i 4.89½ 4.85½ 4.88 2:J .••• 4.82 4.84.!,S' 4.b3 4.85 4.87>, 4.89,¾ 4.87 4.8'1¼ 4 .85¾ 4.88 S. S 4.87 4.89 ~ 4.8">¾ 4.f,8 24 . .•. 4.82 4.84 ~ 25 . . 4.83 4.85½ 4.83 4.85 4.8' 1/s 4.89¼ 4.87 4.89¼ 4.85½ 4.88 26 .••• 4.83 4.65¼ 4.831{ 4.85¼ 4.871/, 4.89 1<$ 4.87 4.89¾ S. '¥1 .. S. 4.84 4.86 4.is7½ 4.1-!l½ 4.87 4.89¾ 4.8-i¼ 4.87 ~ . .•. 4.88 4.85¼ 4 84 4.86 4 88" 4.90~ S. 4 83½ 4 86 4 88¼ 4.001/, 4.87 4.89¼ 4. 3½ 4.86 29 .. 4.81 4.85¼ . . •. •• ,o . '83 4Jif>¼ .•••.•..... 4.88¼ 4.9,11/, 4.87 4.89¼ Holidav. 31:. .• 4 8:i 4.85 . . •• S. . . . . . . . ... 4. 4 4 86 High . 4.83 4.86 Low. 4.811/, 4.Si  4 84 4.82  4.86 4.84  4.88¼ 4.90¾ 4.871/s 4 90 4.Si~ 4.86~ 4.85¾ 4.89  June . 60 a days. days. 4.8!¼ 4.8,,¼ 8. 4. 4¾ 4.8/i½ 4.85 4. 87 4.r,5 4.87 4.8.i 4.87 4.8'i,½' 4.87¾ 4.85¼ 4.81¾  July. co 3 days. dayd. ,.sti 4.&:s,¾ 4.~6 4 88½ 4.86 4.88¼ Hol'day. 4.85 4.89 4.85 4.81:! S. 4.84 4.87 4.84 1.8i 4.84 4.8 , 4.84¼ 4.87¼ 4.Bt¾ 4 87¼ 4.84¼ 4.87¾ S. 4.84 4.87 4.E3½ 4.86¼ 4.83¾ 4.86¼ 4.83,½ 4. 86¼ 4.83~ 4.86¼ 4.83½ 4.86¼ S. 4.83 4.~6 4.83 4.86 4."'3 4.86 4.8!'! 4.86 4.83 4.E6 4.83 4.' 6 S. 4.81 4.86 4.83 4.86 4.8:1 4.86  s.  4.85¾ 4.87¼ 4.85J<i 4.8,¼ 4 o5~ 4. 871/s 4.85¼ 4.8'i½ 4.~5½ 4.87¼ 4.ti5¼ 4.87,¼i S. '4.851/, 4.87>, 4.85~ f 87¾ 4.85¼ 4.87¾ 4.86,Jf ,.87¼ 4.95H 4 .87¼ 4 86¾ 4.87½ S. 4.85½ 4.Si¼ 4.8'i 4 85 4.8o 4.88 4.86 4.88>, -1.86 4.88 ," 4 86 4.8b¼ S. . .. . .. . . . .•. ►  4.81 4.89¼ 4.8tl 4.88,li 4.86 4.83J, 4 86 4 84¼ 4 86¼ 4..88  Angnst 3  t,0  days . days. 4.82¼ 4.86 4.83 H6¾ 4.83 4.8li¼ S. 4.P3½ 4.87 4.8~¼ 4 .~ 7½ 4.8:3¾ 4-87½ 4.·H½ 4.871/s 4.83¼ 4.87¼ 4.8-i 4.88 S. 4S4¼ 4.8a~ 4.85 4.89 U5 4.89¼ 4.85 4.fl9½ 4.85 4.8 1/s 4 85 4.69_¾ B. 4.85 4.89¼ 4.85 4.89¾ 4.81¾ 4.f!9 484¼ 4 8;) 4.b3½ 4.!:-8 4.83,¼ 4.88 S.  4.831( 4.88 4.83,¾' 4.E8 4 84 4.ii8¼ 4.84 4.83¼ 4.84 4.~8½' 4.8! 4.88¼  September. 60 3 days. days. 8. 4.84 4.88¼ 4.84 4.88½ 4.is:-l½ 4.f 8 4.82¾ 4.87 4.H2){ 4.87 4.82,½ -t.87 S. 4.82¼ 4.87 4.82 4 86¼ 4.~2 4.f!6¼ 4.fl2 4.86½ 4. ~2¼ 4.87 4., 2½ 4.87  October.  November: December. a 60 a 60 a· days. days. day~. days. days• 4.85.J,i' 4.82¾ 4 f:S8 s. 4.85¼ iU:21/s 4.88 4.82 4.86¼' 4.SJ,½ S. 4.E2 :- 4.8G,½ ' 1.8G,½ 4.82 4.fft1/s 4.82 4.BGY, 4.65½ Holidav. 4.82 4.86¼ S. 4.' 1¼ 4.86¼ 4.82½ 4.87 4.81 4.85¼ 4.80¾ 4.85_¾ 4.82¼ 4.87 4 f OY, 4.85 4.81 4.86 S 4.80.Ji 4 85 4.81 4.8& 4.83 4.67,!j 4.80 ( 84½ s. 4.83 4.87¼ 4.79½ 4.84 4.81¼ 4.86¾ 4.83 4.87>, 4.79.½ 4.84 4.81Ys486¼ 4.83¼ 4.88 S. 4.81¾ 4.8fi¼ 4.33>, 4.88 4.78½ 4.84 4.82 4.86>, 4.831/, 4.88 s. 4.79 4.84)9 4.82 4.86¼ s. e 4 "21/, 4.87 4.79½ 4.85¾ 4 82 4.86¼ 4.Q3¼ 4.88 4. G2~ 4 87 4.79,¾ 4 85¼ . S. 4.83¼ 4.88J, 4.82){ 4.87 4.60 4.8-i 4 B2 4.8fi¾ 4.S:::I½ 4.883' 4.82¼ 4.87 4.80 4 86 4 82 4 f6¾ 4.83½ 4.S8¼ 4.82¼ 4.87 s. 4:82 4.86>, 4.83¾ 4.88>, 4.82½ 4.67 4.80¼ 4.86½ 4 82 4.86,¾ 4.83½ 4.89 S. 4.81 4.87 4 82½ 4.87 S. 4.!'2½ 4.87 4.82 4.88 4.82>, 4 87 4.83,¼ 4.89 4.82 4 86¾ 4.8~ 4.F8 S. 4.83¾ 4.89 4.82 4.86¼ 4.82½ 4.881/, 4.82Y, 4.87 Holiday. 4.82 4.86½ 4.82¼ t.88>, 4.82 4.86,½ 4.83 4.881/, -1.81 ¾ 4.86 S. 4.b2 4.86,½ 4.88 4.88~ 4 bl½ 4.86 _ 4.821/, 4-831/, Holiday. 4.83 4.88¼ S. 4.ti2½ 4-88.½ 4.82 4.86¼ S. 4.81¾ 4.86 4.82¼ 4-881/, 4.82 4.86½ 4.82 4 87¾ ......... . •. 4.82¼ 4-88 •.•• . ••..... 4.82 4.87½ 60  days. 4. 1 4.61 4.81 4.81 4.81  0  4.881/s 4.fl5 4.89¼ 4.84 4.88½ 4.S2~ 4.88¼ 4.821/, 4 88 4,88¼ 4 89 4.86 4.82¼ 4.Sti 4.bl¾ 4.86 4.78>, 4.84 4.80.¾ 4.85¼ 4.82 4.SW  1879.  ~a{  January.  February. Mo. 60 d. Sight. 60 d. Sight. 4.851~•88¾ ~::: :4fti~~l,-;½ 8 . . . .4.82~ 4.87~ 4.85½4.88½ 4.86 4.88½ ::::4.821,~-87 4.86 4.88½ 4.86 4.88¾ 6 •.• .4.83 4.88 4.86½4.80 7 ... . 4.83½ 4.83 8 ... .4.83½ 4.88 4.86~it89 0 . .. .4.83¾ 4.87¾ 10 ..•. 4.84 4.88 4.86ij4.89 4.86 4.80 11 .... 4.84 4.88 4.86 4.89 12 .. .. s. 13 .... 4.84¼ 4.88½ 4.86½4.89 14 ... .4.84½ 4.88~ 4.86~ 4.89 15 ... . 4.85 4.88 4.861,4.89 16 ... 4.85 4.88 4.86½4.80 17 ... A.85 4.88 18 .. . . 4.&, 4.88½ 4,86½4.80 4.86 4.89 Jg.... s. 4.86 4.89 20 ... .4.85½ 4.80 21. .. .4.86 4.89¼ 4.86 4.89 22 ... .4.86½ 4.89½ Holiday. s. 23 ••• .4.86 4.89 4.86 4.89 24 . . . .4.86 4.89 4.86 4.89 25 .. .. 4.86 4.89 4.86 4.89 26.... s. 27 ... .4.85½ 4.88¼ 4.86¾4.89¼ 28 . •. .4.85½ 4,88½ 4.86¼4.89¼ 29 . . • .4.85¼ 4.88½ SO .• • .4.85¾ 4.88¼ 31 ... .4.85¼ 4,8S¾  i  March.  60 d. Sight.  4.861~-89¼ 4.87 4.90 4.87 4.00 4.87 4.90 4.87 4.00 4.87 4.90 4.87 4.90  s.  4.87 4.0J 4.89½ 4.00 4.87 4.00 4.87 4.89¼ 4.87½4.90 4.87½4.90  s.  4.87¼4.90 4.87 4.89¾ 4.87 4.80½ 4.87 4.89½ 4.87 4.80½ 4.87 4.89¼  s.  4.86 4.00¼ 4,85½4.88 4.85½4.88 4.86 4.88½ 4.86 4.88½ 4.1,61~-89 4.86½ 4.89  High .4.86¼ 4.89½ 4.86¼ 4.89½ 4.87¼ 4.90 LQW .. 4.82 4.87¼ 4.85¾ 4.88¼ 4.85¼ 4.88   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  April.  fJ¾~i.i~t.  May.  fs~· si.w~ 4.87 4.88½  4.87 4.80¼ 4.87 4.80 4.87 4.88½ 4.87 4.80 s. 4.87 4.80 4.87 4.88½ 4.87 4.88¼ s. 4.87 4.89 4.87½4.89 4.86½4.88½ 4.87½ ,.so 4.86½4,88¼ 4.87½4.80 4.86½4"88½ 4.8~~-89 G'd Friday, 4,86½4.88¼ 4.88 4.89¼ 4.88 4.8U½ s. 4.86½4.88½ 4.88 4.89½ 4.87 4.88½ 4.88 4.89½ 4.87 4.88½ 4.88 4.80½ 4.87 4.88¼ 4.88 4.89,½; 4.87 4.88½ s. 4.87 4.88½ 4.88 4.89½ 4.88 4.80½ s. 4.86½4,88 4.88 4.80½ 4.87 4.88½ 4.88½ 4.00 4.87 4.88½ 4,88½4.90 4.87 4.88," i 4.87 4.8&,i 4-~~-90 4.87 4.88½ 4.88½4.90 4.88½4.90 s. 4.87 4.88½ 4.88 4.89½ 4.87 4.88½ 4.88 4.89½ 4.S7 4.88½ Holiday. 4.88¾ 4.i,  4.87 4.89¾ 4.88¼4.Q( · 4.86¾4.88 4.37 4.~..  June. 60 d. Sight.  s.  4.88¼4.90 4.88½4.00 4.88½4.00 4.88½4.00 4.~?§4.90 4.,4.90 4.88½4.90 4.88½4.90 4.88 4.90 4.88 4.00 4.88 4.00 4.88 4.90  Augm1t.  .:u1y.  October.  September.  ~-~t. f~tll.~~ r.J¼si.w~ r.J· ~~it.. ~?8i· 4.82 4.84 4.82 4.84 4.86½ 4.88½ 4.83 4.85  s. 4.86½ 4.88¾ Holiday. 4.83 4.85 Holiday. 4.83 4.85 s. 4.83 4.85 4.86½ 4.88½ 4.83 4.85 4.86½ 4.88½ 4.83 4.85 4.86½ 4.88½ 4.83 4.85 4.86½ 4.88½ s. 4,86½ 4.88¼ 4.83 4.85 4.86½ 4.88¼ 4.82½ 4,84¼ s. 4.82½ 4.84¾ 4.86¼ 4.88½ 4.82½ 4.84¼ s. 4.86½ 4.88½ 4.8~4.84¼ 4.88 4.90 4.86½ 4.88½ 4.82 4. .84½ 4.88 4.90 4,86½4.88½ 4.86 4.88 4.82½ 4.84½ 4.88 4.90 4.88 4.00 4.86 4.88 4.82½ 4.1 4.88 4.00 s. 4.82¼ 4.84 4.88 4.90 4.85½ 4.87¼ 4.82½ 4.84 4.85 4.87 4.84½ 4.84 s. 4.88 4.90 4.85 4.87 4.82½ 4..84¾ 4.87½4.80½ 4.85 4.87 S 4.87½4.89¼ 4.85 4.87 4.82 4.84 4.87 4.89 4.85 4.87 4.82 4.84 4.87 4.89 s. 4.82 4.84 4.87 4.89 4.83½ 4.85¾ 4.81½ 4.!s3¾ s. 4.83½ 4.85½ 4.81½ 4.83¼ 4.86¼4.88¼ 4.83¼ 4.85¼ 4.81½ 4.83¾ 4.$3¼ 4.85¾  tf  .  s.  .  4.82 4.82 4.82 4.82  4.82 4.82 4.82 4.82 4.82 4.82  4.84 4.84 4.84 4.84  s.  4.84 4.84 4.84 4.84 4.84 4.84  s.  4.82 4.84 4.82½4.84½ 4.82½4.84½ 4.82½4.84¾ 4.82,½4.84½ 4.82~ 4.84¾ 4.82 4.82 4.82 4.82 4.82 4.82  s.  4.84 4.84 4.84 4.84 4.84 4.84  s.  4.82 4.84 4.82¾4.84½  4.82 4 92 ·  4.82 4.82 4.82 4.82 4.82 4.82  4.84 84  s~·  4.84 4.84 4.84 4.84 4.84 4.84  November.  60 d. "'\~ht. 4 81  December.  r,8f¾81.~t.  " 1{bS¾ 4:81½ 4.84 4.81¼ 4.83¼ 4.82 4.~  ifN½·2.M"¾ 1:~ l:~  4.~4.83½ 4.83 4.~ 4.80 4.83¼ s. 4.83¾ 4.83 4.85¼ 4.82½ 4.85 4.80¼ 4.83¼ 4.82¾ 4.85 4.80½ 4.m 4.82½ 4.85 s. 4.80½ 4.83 4.82½ 4.85 4 .82 4.84 4.80½ 4.83 4.82¼ 4•.85 4.82 4.84 4.80½ 4.83½ .B 4.82 4.84 4.80!,i 4..83½ 4.81¾ 4.84 4.82 4.84½ 4.81¼ 4.83¼ .B 4.81½ 4.83¼ 4.81 4.84 4.82 4.84½ 4.811~•83¾ 4.81½ 4.83½ 4:81½ 4.84½ 4.82 4.85 4.81½ 4.83½ 4.81¼ 4.8'.I i , s. 4.81½ 4 . , 4.81½ 4.. 84-n 4.82' 4.84½ 4.81½ 4.83 .B 4.82 4.84½ 4.813-,i 4.83 4.81½ 4.84¼ 4.82 4.84½ 4.811~· 4.81½ 4.83¾ o;jd a_,y. 4.~2 4.84½ s. 4.81½ 4.83~ 4 81 711 4 84 4.81½ 4.83 4.81¼ 4_.84 4.82 4.84½ .S 4.81½ 4.84½ 4.81¼ •. 83 4.il¾ 4.843,s 4,81¼ 4.i3¾ 4.  1:~½ tt 1:~~ ::~  l:~½ !:t 4.ioui~ n_  •. 82½ •-~ 4.81.¾ , . ~ 4.88 4.~ 4.813,s •-~ , . ~ 4.Bliji 4.81)9 4.56  .  FOREIGN EXCHANGE.  26  1880-1881-188~. · 1880:-The course of exchange in the early months of tile year was quite Rteady, and although there was no return of iecuritit-'S frcm abroad as in 1879, the very large importation of foreign merchandise kept up the demand for bills. In May price8 of flterliug bili1:1 were so ~rm that exports o~ specie were apprehtmded. I~ Ju_Jy, h_owever, ra.tt-s began to fall off,_ as the imp, -rt.<J of fot·eig-n merchand1se had been cons1derabl_v checked by the declrne m prrnes here; and after Jul_v prices of exchang-e-so ft>ll off that the importa1ion of specie commericed. which wa:i well kept up until the end of the year~ and resulted i11 the rec~iot at New York of about $69,000,000 from August 1 to Decemb r 31. 1881.-At the opening of the year rates of exchange were unusually low,. and ~fter stiffening up in February wer& quite demo1alized after the ~5th of that mon th by the flur1·y in the money market. After the middle of April rate1:1 became firm and so remained till Augotit, when there was another decliue t<> low prices, which lasted without snostantial recovery till the end of the year. 'l'he exeess of imports over exports of specie for the twelve months ending November 30 was $62,986,036·. against $59.342,!mO in 1879-80; but for the five months, Jul_v-November, 1881, th~ eXCl-lSS of imports was only $24,408,228, agai.nst $52.593,842 in 1880. In January, 1881, an attempt, wa~ ma.de by ~ome of the principal drawers of exchange to alter the method of quoting ::iterling bill:-1 to the pn cent baHis--t.tms, the price of 9S for a bill meaning 98-100 of the face value. reduced to dollars at the li:-gal valuation of $4·8665 to the pound. This plan, however, wats fou.nd unpopular., and was Hoon ~ba.ndo11ed. 1882.-The gf>D~ra.l prosperi~y of the three yf>ara t-nding with 1881 had stimn)&tf>d the importation of fort-ign m~rchaodise while on the othttr hand th~ ~mall crop ('f 1881 left the United ~tat1-s a RmaH i<urplus for ~.xport. The natural ri>~ult f >ll11 wed and in March, 18f.2, prime bankers' sterling bills Wt>re qu0 ted at 4 89.½!@4 90½ (posted rates), and in tht.> half-year endinl? June 30 about f3ii,500,000 of gold and 1-ilvt>r was exported! while in the corretipondh1g period of 1881 about $23,000,000 was import.. d. lo the )at-ter part of !ht:, year the aRpect materially cbangt:-d, mo!e from the very large _t•xports of c?tton that fJ'!)'rn any other single came, and durmg the last thl-ee months of 1882 the Umted States was a :recener of specie from foreign countries in moderate amounts. 1880.. Day of  Ja;:iurrrv.  March.  February.  .Mo. 60d. Sight. 60d. Sight. 1. •• Ilolidiw. 8. 2 ..•• 4.81~4-84¼ 4.R3½4.85¼ 8 .. .. 4.81 4.84½ -1.8'2~ 4.85 4.83 ~.85!,g  "···· 5 ...• 4.81~8. 4.84½ G.••• 4.81½ 4.84½ 7 .••• 4.82 4.8-1½ 8 . ... 4.82 4.84,..¼ 9 . .. . 4.82½ 4.85 1<1•• •• 4.82½ 4.S3 11.... s. 12 ... . 4.88 4.85¼ 13 ..•. 4.83~4 .86 14 .•• • 4.83 4.85½ 15 ...• 4.82½ 4.85 16 . ... 4.82½ 4.&> l7 ...• 4.82½ 4}35 18 . s. lv... . 4.83 4.85 20 .... 4.83 4.85 21 .... 4.83 4.85 22 .... 4.83 4.85 23 .... 4.83 4.85 24 . ... 4..83 4.85 25 .... s. 26 .... 4.82 4.84~l •••• 4.82½ 4.84¼ 28 .... 4.83 4.85  60 d. tligbt. 4.85 4.88 4.83 4_;<8 4.85 4.88 4.8o 4:88 4.83 4.8.5}Ji 4.85 4.88 4..83 4.88 4.83~4.86 4.83 4.86 s. s. 4.85 4.88 4.83~4.86 4.85!,-:; 4.88¼ 4.83~ 4.86 4.Bo~ 4.88~ 4.83!,g4.86 4.85½4.88 _ 4.83½f4.86 4.85½ 4.88=- < 4.84 4.86¼ 4.85½l88/ _ 4.84 4.86½  s.  u~~t~~~  4.84 4.86½ 4.8'!½4,87 4.85½4.88½ 4.R4_½; ,V3·7 4.85'<i 4.89 4.85½ -.:C .89 t~~ 4,85½ 1.89 4.&1½4.87 8. :,. 4.85)lf4.89 Holiday. 4.86 4.89 4.85 4.87½ 4.86 4.80 4.8a 4.87~ 4.86 4.89 4.85 4.S-7½ G'd ~•' riday. 4.8G ( ,..,> 4 .85 4.88 4.85 4.88 s. 4.85½ 4.F,8½ s. ....... ........ 4.85½4.88½ Sl .•• 4.83½ 4.85-¼ .......... ..... .. 4.85½4, ½ .J•  tt:l  ~:::: i:~~u~~  II!gh 4.83½ 4.8'3 Low •• 4.81½ 4.84  4.85 4.88 4.82½ 4.85  4.86 4.o5  4.89  4.83  Aprll.  Ma,y ,  ~~-~~i:~~ ~~-  ~i.i~t.  r~-  June. ~i_igt.  4.87 4.90 s. 4.&,~4.88½ 4.85 4.88½ 4.85½4.88½ 4.81 4.90 4.87 4.00 s. 4.8~ 4.89 4.87 4.90 4.86 4.89 4.86 4.89 s. 4.REJ 4.89 4.86 4.89 4.87 4.90 4.86 4.89 4.86 4.89 4.87 4.00 4.86 4.89' 4.87 4.90 s. 4.86 4.80 4.86 4.89 4.87 4.90 s. 4.86½ 4.89'~ 4.87 4.90 4.85_½4.l',8½ 4.86~ .J.89½ 4.87 4..90 s. 4 .."il>~4.89¼ 4.86 4.89½ 4.86½ 4..00½ 4.!G½4.88½ 4.86½4.89½ 4.86½ 4.StJ½ 4.85 - 4.88 8. 4.86½4.89¼ 4.&5 4.88 4.86¼4.89½ 4.86 1,,f 4.89 s. 4.86~ 4.8U½ 4.86~4.89 1 4.G5 4.88 4.86 4.89~ 4.861 4.8'1 4.85 4.88 4.86 •4 4 8!-l s. 4.8:5 4.88 4.86¼ 4..00 4.85 4.88 4.86½4.sg 4.85 4.87½ s. 4.85 1.87½ 4.87 4.90 t~~~i:~ 4.87 4.90 4,81; 4.88½ s. 4.85 4.EJ 4. 7 4.90 4.86 4.88½ 4.83½4.88½ 4.87 4.00 s. 4.: , 4.89 •l.87 4.90 4.83}f 4.SS 4.LJ 4.89 4.87 4.00 4.8.'> 4.87½ 4.86 4.89 s. 4.85 4.87½ Holiday. .......  i:~¾i:~7'  !fil~f~  t~~t~~  ......  .................  4.86 4.85-  4.89  4.87 4.87 4.90 4.87½ 4.,,3;,1 4.88½ 4.85  July.  1?4· 4.85' 4.85,  ~i-~~~  4.87½ 4.!m-~  s.  Holiday. 4.8o 4.87½ 4.8.5 4.87½ 4.85 4.8'7½ 4.85 4.87½ 4.85 4.87½ 4.8-4 4.84 4.84.  s.  4.86½ 4.86½  .A\lgust. Septemb'r. 60 d. ~igllt. 60 d. ::-i.! !ht. 4.82' 4.84 8. 4.83' 4.85 4.8:J 4.84 4..8.3 4.85 4.82 4.&.l 4.83 4.B> 4.82 4.Si 4,83 4.&> s. 4.83 4.85 4.82 4.84 4-. 2 4.84 4.83 4.85 4..82 4.84½ s. 4.82 4.84½ 4.83 4.8'5 4.83' 4.85 4.8Z¾4,84¼  !:~tt~ 4.821/2 4.84½,  l:~~ s.:~ 4.82  tf~j:~½  4MIA  rn~  4.82 4.84~ 4.82 4.84 4.82 4.84½ 4.82 4.84½ 4.82½ 4.&"5 4.82'1/4 4.85  s.  .....  4.R5 4.90 4.R711 4.83  t~~  4.83 4..82  4.85 48-i  s.  4.81½ 4.844.82 4.84}' 4.82 4.84½ 4.82½ 4.8.5 4.82½ 4.85 4.82'½4..85  4.82 4.1¾~, 4.82 4.84½ 4.82%4.84½ 4.82 7.&.l½ 4..83½ 4.8U 4.82'~ 4.84½ 4.82 4,/n¼ s. 4.E'2½4.84½ 4.82 4.84½ 4.-.~½ 4.85½ 4.82½4.84½ s. 4.83 .-;_, 4.8.5),,., 4.82½4.84¼ 4.82 4.f\3 4.85 4.82½ 4.84-½ 4.82 4.83 4.85 4.82' 4.84½ s. 4.83 4.85 4.82½4.84½ 4.82 4.84½ 4.83 4.85 4.82½ 4.84½ 4.8·~ 4.84½ 4.82 4.84 s. 4.82 4.S.l½ 4.83 4.86 4.82 4.84 8. 4.82 4.84 4.82 4.84½ 4.83 4.85 4.83 4.85 4.82 4.&.l 4.82 4.84½ 483 4.85 s. 4.81½4.84 4.83 4.85 4.82 4. 84 4.81½4.84 4.83 4.85 4.82 4.84 .......... .. .. , 4.86)/4  October.  60 d. Slizht 4.81½4.ln 4.81½ 4.84 8, 4.81½4.a:i 4.81.½ 4.84 4.81½ 4.&.1 4.81½ 4.84 4.81~ 4.84 4.81½4.84  s.  s.  4.82 4,84½ 4.82½4.85 4.82½4.85 4.b2 4.84½ 4.8l 4.~ 4.82 4.  s.  NoTember.  l!f/l~  Decembef.  60 d. 8ighi. 4.79½4.81~ 4.8U 4.82l, 4.\l?liti¼ 4.80 4.82t: 4.82 4.84 4.80 4.82 482 4.84 8. 4.82 4.Si 4.80 4.82¼ s. 4.79~ 4.82 4.813,;4.83¼ 4.i9¼4.824.81½4.83½ 4.79½4.82~ 4.81½4.83½ 4.7f1).i 4.82 . 4.8lt,: 4.83~ 4.79~4.821 4.81½4.83½ s. 4.81½ 4.83½ 4.79 4.82 4 .7!.} 4.82s. 4.81¼4.~ 4.79 4.BZ 4.81½4.83½ 4.70 4.8Z 4.81 4.53 4.79½ 4.82¼ 481 4.83 4.79½4.82¾ 4.81½4.8:.{½ s. 4.81½4,83½ 4 80 4.83 s. 4.80 4.83 4.81½ 4.83¼ 4.80 4.83 4.81 4.83 4.8} 4.83 Holidny. Holiday. 4.81 4.83 8. 4.81 4.83 4.80½4.83¼ s. 4.81 4.84 4.80½4.82½ 4.81 4.84 4.79½ 4.81½ 8  fs~·  t~8t!t~t:  .... .. .  ............  ii}~!:~  4.82 4.84½ 4.82½4.85 4.81¼4,84 4.81½4.84  4.82 4.84~ 4.81¾4.84~ 4.79¼~81¼ 4.79 4.81~  Seotemb'r.  Novembe,-.  1881. Day of  Janu~ry.  FebrmLry.  M"rch.  Jr/~~: 6°ii~u~f:t. fJ· 8J~t.  fJ½~~t.  2 ... S. 8.... <t c'. l¼ 4 84½ f .... 4,.41 4 83¼ 5 . . .. 4 80 4 82¼ & . . . 4 80½ 4 83 7 ... 4 80½ 4 83 8 ..•. 4 80¼ 4 83 i ... s. 10... 4 80 4 82½ 11 ... 480½483½ 12 . . 4 80½ 4 84 13 .... 4 80½ 4 84 .14 .... 4 81¼ 4 84½ 15.... 4 81½ 4 &.l½ 16 S. 17 . .. . 481¼484½ 18 . ... 481¼484½ 19 .... 4 81¼ 4 84¼ 20 . . . 4 82 4 R5 ~) . 482 485 22 .... 481½484½ 2S . . -l. 24 .... 480½483½ 25 4 81½ 4 84-½ 26 ... 4 81½ 4 84¼ 27 . . . 4 81½ 4 St½ 28 . . . 4 82 4 85 29 . . 4 s~ 4 85 30 . .. S. 31.. .. 4 82½ 4 85½  4 4 4 4  4 83 4 t-13 4 83 4 83  4 86 4 86 4 86 4 S6 S. 4 83 4 80 4 83 4 86 4 83 4 86 4 83 4 e6 483 486 4 83 4 86 s. 4 83½ 4 86½ 4 M 4 87 4 84 4 87 484 487 484 487 4 85 4 87 s. 484 486¼ , .. 11,1,y. 4 83½ 4 86 483 485½ 4 81 4 83½ 4 80 4 82¼ ::,. 4 79 4 81½ . . •. . . . .. . ....•....  80½ 4 83  81 81 81  4 83¼ 4 83½ 4 83,½ S. 4 81½ 4 13,i 4- 81½ 4 84 4 81 4 83,l,g 4 80 4 S'4¼ 480 482½ 4 80 4-821/4 :-:. 4 80½ -4 83 4 81½ 4 84 4 81 4 83½ 481 483¼ 481½484 4 81¼ 4 84 s. 481 483½ 480½483 4 80½ 4 83 480¼483 4 80¼ 4 83 4 80½ 4 83  4 Ht 4 81 481 . . 4 81  .. . . .  High 4 82½ 4 85½ 4 Si L11w •• 480 482¼ 4'ro  tl . 4 8.'l½ 4 83½ 48.3½ 4 83½  Ap,·fl. i osik;~~t. .1 81½ 4 84 ~481½4 84 4 81½ 4 M 4 81½ 4 84 4 kl½ 4 84 4 82' 4 84¼ 4 82 4- 84½ s. 4 2 484½ 4 82 4 84½ 4 82 · 4 84¼ 4 82 4 84½ G'd llrichv. 4 82 4 84½ S 482 484¼ 4 82 4 84¼ 4 82 4 84-½ 482 481½ 482'½485 4 82½ 4 86 s. 4 83 4 85½ 4 S3½ 4 86 4 83½ 4 86 4 83½ 4 86 4 84 4 86 48i 486 • •• . .  4 87 4 81½ 4 IH, 4 84 4 8tl 481½ -180 482½ 481½48-1  May. oo d. 8sight. 4 84 4 86 4 84½ 4 86½ 4 85 4 87 4 85 4 87 4 85 4. ITT 4 85 4 87 s. 4 85 4 f57 4 85~ 4 87¼ 485½487½ 4 86 4 88 4 86½ 4 8~½ 4 86½ 4 88½ S. 4 86½ 4 8B½ 4H6 488 486 4 88 4 86 4 SB 4 8-1 ½; 4 86½ 484½486½ :3. 4 84 4 86 485 487 4 85 4 87 4 85 4 87 4 84 4 86 4 84 4 86 s. Holiday. 4 84 4 86  June.  July.  ~st 4 84 4 86 4 Si½ 4 86½ 41:14-1/4 4 80¼ :.,. 4 84¼ 4 86½ 4 85 4 87 4 85 4 87 4- 84½ 4 ~ 6¼ 4 84½ 4 86¼ 484¼486½ s. 4 84.½ 4 86¼ 4 84¼ 4. 86½ 4 84½ 4 86¼ 4 84½ 4 86½ 48'1½486½ 48'1¼4o6¼ S 4 &.l¼ 4 06¼ 481½488¼ 484½486½ 4 84½ 4 86½ 48!½ 486½ 4 o4½ 4 86¼ ~4 84¼ 4 86s 4 81½ 4 86 4 84¼ 4 86 484¼486 .. • • •• . . . . . •  4 M½ 4 86J.ii S. ·Holid ._y. 4 84½ 4 86¼ 4 84½ 4 86½ 4 84½ 4 86½ 4 84½ 4 86½ 4 84¼ 4 &>¼ s. 48~486¼ 4 81~ 4 86½ 4 84.½ 4 86½ 4 84¼ 4 8'i½ 4 Si½ 4 86½ 4 84¼ 4 SB½ s. 484.½486½ 4-. 84:-2 4 86½ 4 84 4 86 483½485¼ 483¼485½ 4 83½ 4 85½ s. 4 83½ 4 85½ 4 83~ 4 85¼ 4 83 4 8.5¼; 4 83 4 85~ 4 83½ 4 85½ 483½485½ s.  August.  s;~t. !osL/4~-i~~ 108~- {t~t.  186 ~q 88 \i 1 s a .. 84 ,. ...  84  86  4 87 481  4 83 4 83 4 83 4 83 4 83  4 85 4- 85 485 4 85 4 85 8. 4 83 4 85 4 83 4 85 4 83 4 85 483 485 4 83 4 85 4 83 4 8.5 s. 4 83 4 65 4 82>( 4 84½ 4822484_½ 482 484 1.; 4 82 4 84½ 4 82 4 84½ s. 482 484¼ 4 82 4 84½, 1 481 ~ - ~ 4 81 -i M 4 80~ 4 84 4 80½ 4 ~ S. 4 80'1? 4 tS4 4~484 4 80¼ 4 84  4 84½ 4 86½ 4 83 4 85 483'¼485¼ 480½481  October.  December.  flO d. S ght. 00 d . Rigbt. 60 d. Sight. 00 d. S ght. 4.80½484 480½4-84 481'-'>485½; 481 485  414  i~~it  l~l  ai  4 81½ 4 85¼ 4 81 4 80½ 4 84·1i -A 80  4 85 4 84  480~--484 !~½¼!~ 4 80 81 4 85 s. 84¼ 4 7{1½ 4 ,i Bl 4 85 4 81 4 85 84¼ 4 79½ 4 83 s. 4 81 4 85 &.l½ 4 79¼ 44 81 4 85- 4 81 4 85 84-½ 4 79¼ 4 83½ Holid y. 4 81 4 85 84½ s. 4 81 4 85 4 81 4 85 84¾ 4 79½ 4 83½ · 4- 81 4 8.5 4 81 4 85 t,\ . 4 79½ 4 83½ 4 61.¼i 4 85 s. 4 81 4. St½ 4 79½ 4 ~~j 4 81½ 4 85 4 81 4 85 4 81 4 84½ 4 79¼ 4 l:l. 4 81 4 85 4- 81 4 84½ 4 80 4 84 4 81½ 4 85 4 81 4 85 4 81 4- 84½ 4 80 4 84 -1 81½ 4 85 4 81 4 85 4 8-1½ 4 85 s. 4 81½ 4 85 4 81 4 85 4 81½ 4 85 4 80 4 84 4 81½ 4 85 4 81 4 85 s. 4 80½ 4 84½ 4 81½ 4 85 8. 481½485 480½484¼ 481½48;) 481 485 481½485 480½484½ s. 481 485 4 81½ 4 85 4 80½ 4 84-½ 4 81½ 4 85 4 81 4 85 4fil½485 480½484¼480~484~4fil 485 4 81½ 4 85 s. 4 80½ 4 84~ 4 80½ 4 84~ 4 81~l 85 4 80½8~ 84¼ 4 foo~i~ Holidciy. 4 8lij 485¼ 4 80½ 4 84¼ Holld -· y. 481 484½ 48t½485½ s. 480 4844 81 4 84¼ 4 82 4 86 4 81 4 85 4 80 4 84 81 4 81½ 4 82 4 86 4 81 4 85 4 80½ 4 84¼ ~¼ 4 84 8. 4 81 4 85 4 Rt 4 8!-i 4 82 4 86 . . . . . . . . . . . . 4 81 4 85  s. 4 80¼ 4 4 80½ 4 4 81 4 4. 81 4 4 81 4 4 81 4  =~  ! ~1 ,! ~',(,  4 t>~½ 4 85 4 80½ 4 84  4 82 4 80  4 86 4 84  s¥½  188'.!. ~/  Janu11ry.  ,~~: 60d. 8~ight.  Februury.  M 1rcb..  ~J· SJ~~ fJ·  Ap· il.  ~~st. fs~· ~i~t. 8 487½ 490½ 4 86 4 90 4 87½ 4 90¼ s. 4 87½ 4 90¼ 4 86 4 00½ 4 !J7½ 4 90½ 4 86 4 90½ 4 H7½ 4 90½ 4 86 4 90½ 4 87½ 4 90¼ 4 86 4 00 s. 4 86 4 00 4 87½ 4 90¼ 4 86 4 90 4 87½ 4 90½ s. 4 87½ 4 90½ 4 86 4 90 4 87 4 90 4 86 4 90 4 87 4 90 4 86 4 90 4 87 4 90 4 85½ 4 89½ 8. 4 85½ 4 89~ 4 ~7 4 90 4 85½ 4 89)St 4 87 4 90 s. 487 490 4 86½ 4 90 4 87 4 00 4 86¼ 4 90 4 87 4 00 4 86¼ 4 90 4 87 4 90 4 87 - 4 9 l 8. 4 87 4 90 4 87 4 90 4 87 4 90 4 87 4 90 8 487 400 4 87 4 90 4 87½ 4 90½ 4 87 4 90 4 87½ 4 90½ 4 87 4 90 s. 4 s1 4 90 . . . .. . . . . . .  L: 4Wi i:~a~ !~ gg~ !~ gg L.. 4 81 4 85 4 85 4 90½ 0  ~ .•. 4 81 6 . .. 4 81  4 85 4 85 7 ... 4 81 4 85 8. .. . ~9 . .. 4 81½ 4 85½ 10. •• 4 82 4 86 11 . •• 4 82½ 4 86½ u ••• 4 82½ 4 86½ 18 .. .. 4 83 4 Si 14 . . .. 4 83 4 87 15.. .. s. 16 4 83 4 87 17 . ..• 4 83 4 87 18 . .. 4 83 4 87 19...• 483½487~ 20 .. 4 84½ 4 88 21 4 84½ 4 88 22 •• S. 23 4 85 4 89 24 .. .. 4 85 4 89~ ~ 4 85 4 89½  It:::~ !~ • •• 4. 86 4 90 ~  4 4 4 4 4 4  85 85 85 85 85 85  4 4 4 4 4 4  85 85 f-5 85 85 85  s. 4 90½ 4 90 4 00 4 90½ 4 9 '½ 4 00¼ s. 4 9011ij.6 4 90 4 90, 4 90S 4110 4 00  29 . . . S. 80 4 85 4 \lO¼ . . . •• 4 85 4 90½ . . . . •  au ....  'Rtgh t 85 Low.. 481  4 90½ 4 86 485 481>   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  s.  4 85 4 90 4 85 4 90¾ •' lid ·:v. 4 85½ 4 90 4 85¼ 4 90 4 85½ 4 90 485x;8-i9o 4 86 4 90 . .. . . . . ...  • •.••  •. . •.  r ~½~i~~ ~OS~½~~gt, J1lav.  8  !~~~!~~  4 87.½ 4 90ni 4 87½ 4 00¼ 4 87½ 4 90¼ s. 4 87¼ 4 00¼ 4 87½ 4 00½ 4 87~ 4 90½ 4 87 4 00½ 4 87 4 {10½ 4 87½ 4 90½ s. 4 87½ 4 90¼ 4 87½ 4 90½ 4 !-i7½ 4 90½ 4 87½ 4 90½ 487¼490½ 4 87½ 4 90½ R. 4 87½ 4 90¼ 4 87½ 4 90½ 4 87_¼ 4 90½ 4 ~ 4 90½  June.  a~~:gg 8. 4 4 4 4 4  87½ 4 90 87½ 4 00 87½ 4 90 87½ 4 00 87½ 4 00 -! 87½ 4 00 S. 4 87¼ 4 90 4 87½ 4 00 4 87½ 4 90 4 87½ 4 90 4 87 4 89½ 4 87 4 89½ S 487 4cl9¼ 4 87 4 t,9~ 4 87 4 R9>-2 4 87 4 89¼ 4 ~7 4 H9~ 4 87 4 89½ R  July. ~O~½~i~t. 8 486½ 4s9 H olid a_y_.__ 4 86 4 til:S¾ 4 86 4 88½ 4 86 4 88¼ 4 86 4 88 s. 4 86 4 89 4 86 4 3 9 4 86 4 89 4 86 4 89 4 86 4 89 4 86 4 89 s. 4 86 4 89 4 86 4 89 486 489 4 86 4 89 4 86 4 80 4 86 4 89 8. 4 86 4 89 4 86 4 89  ii~ gg l~½!g'J i=:ig i~ :ig 8. 4 86½ 4 80 4 86 4 89 H -1 Jid~y. Holid lly. 4 87½ 4 90  4 86½ 4 89 4 86 4 89 4 86½ 4 89 s. . . • . . • . . . . . . 4 86 4 s9  August.  fall· ~~t. !~ Hg 4 4 ~~  4  ov  4 4 4 4 4 4  86 86 86 86 86 86  4 4 4 4  8<> 86 86 86  4 4 4 4  86 86 86 86  8. 4 4 4 4  4 86 4 86 4 86 4 86 4 86 486  g.  4 4 4 4 4 4  86 86 86 85 85 85  90 90 90 oo  4 90 489  October.  November. December.  ~i~~ rs3½~~~ 480 94 l4 00 g}~!~~ a½~ag~ ~~ ¾ 4 81 ½ ! S6½ 4 81½ 4. 85½ 4 ~ 4 8.5  4 90 4 90 4 89¼: 4 80¼ 4 89 s. 4 85 ,,_ 4 !-i'9 48 4 89 4 85 4 89 4 85 4 89),fr 4 84½ 4 8s:l¼ 4 84½ 4 89½ s. 4 84½ 4 89 484½4l'l9 4 84 4 88!,~ 4 84 4 88½ 4 83½ 4 88 4 83¼ 4 88½ s. ~~ 88½ 483½4~ 4 82½ 4 87½ 4 82 4 87 4 82 4 87 . .. .. . . ... ..  4 81 4 81 4 81  4 86 482  4 82½ 4 87 481 '-86  V  ! ~ gg !  4 90½ 4 87 4. 90½ 4 87.½ 4 90½ 4 87½ 4 90½ 4 87½ 4 90 • 4 86½ 4 89 4 86 490 .185½480¾ 490 487½490 -l86¾489 486 488½ 486  ,s1  ~  4 av s. 4 89 4 89 4 89 4 89",,; 4 8 ~~ 4 8 '17)1 S. 4 89½ 4 89\.; 4 89½ 4 90 4 00 490 s. 4 90 4 90 4 90 4 90  Se-ntemb'r.  ·io8 ~~t. 60d. ~~ight. iosi· 486 90  !  4 IJO 487  86 4 86 4 86 S. 4 81½ 4 86½ 4 81½ 4 86½ 4 s 1½ 4 86~ 4 82 4 86 7'2 4 82 4 86¼ 4 82 4 86~ s. 4 s2 4 86½ 4 82 4 86½ 4 82 4 86½ 482 486½ 4 82½ 4 87 4 82½ 4 8'i S. 4 82½ 4 87 4 82 4 86½ 't  8 4 81½ 4 85¼ Holiday. 4 81½ 4 85½ 4 81½ 4 85½ 4 81¾ 4 85¼ 4 81~n4. 85¾ :'  4 81~ 4 4 81½ 4 -1 81½ 4 4 SI½ 4 4 81 4 4 81 4  s.  85g 85 85 85½ 85 85  4 81 4 85 4 81 4 85 4 81 4 85 4 1-1 4 85 4 80½; 4 8411! ~ 4 SO½s~ 84½ 482½487 480 484 4 82."I! 4 87 4 80 4 84 S. 4 80~ 4 84¼ 4 82½ 4-87 3:oliday. 4 82 4 86½ . . . . . . . . . . . .  g~J.!J  4 82 480  4 " 1 4 85 4 81 4 81> 4 80½ 4 84¾ 4 RO½ 4 84¼ 4 80½ 4 84½ s. 4 80½ 4 84¼ 4 81 4 85 4 81½ 4 85½ 4 81½ 4 85½ 4 81½ 4 85¼ 4 e1x; 4 85¾ s. 4 81½ 4 85½ 481½485\.t. 4 814, 4 85½ 4 81½ 4 85¼ 4 82 4 86 4 82 4 86 s. "M?li1ali:i 4 481¼485!,s 4 81 4 65 4 kl 4 8:'> 4 81 4 85  ~-  4 86¼ 4 82 4. 86 484 UO½t~  27  FOREIGN .EXCHANGE.  1883-1884-1885. 1883.-The imports or merchandise into the U nited States in 1883 fell off ~ry ·materially as cf>mpa.red with the previom'i year, while the exports of merchandise, particularly in the first six mon rhs, were considerably in f'XCef"S of 188i. As & consequence of this movement, it resulted that the balance difference in favor of this country was about $t00,000,000 bettPr than in the previous yea.r. The rates for b&nker:-1' bill!i were strong in M: -ty, 111110 a.nd J11ly. After Jllly, 1·atE>s w ... aken~ and there wa,s for a time a moderate import of gold; but this soon foll off, and i.n the late months of the year there was no feature of importance. 1884.-In the ea.rly pa.rt of th.e yea.r sterling exchange ruled at very firm rates, owmg to the retllrn of e1ecarities from abroad &nd to tb.e fa.ct that the crops of i88:J ha.d been small, and thPre wa.s a small surplus for export after J am1a.rv 1. As a. consequence of this sitaation there was a. net export of gold a.mo11n.tin.g to some $32,000,000 by t\e en.d of April, after which came the May panic, upsetting money matters and checkin%' the gold export. A.fcer July 1 the imports of merchandise began to decline and there was a. better feeling in American securities; ii lso in the autumn months a. la.rge export movement of cotton. Rates of exchange fell off shai:ply in June and July, and th.ere was a modera.te importation of gold. Rates in A«gust and September were firmer, and when they declined again a,nd g-old imports were bf>ginning, the advance in the Bank'Of England rate to 5 per cent, in October, checked the movement. D11ring the ha.lance of the year t;b.e rates fl11ctu.a.ted, but kept slightly above the specie-importing point. 1885.-In the e ,,rly pa.rt of the year there was some investment demand for ste rling bills from pa.rties who wish.ed to have their funds in London, where money was higher than in New York. In April the prospects of war between England an«I. Russia. also a.dvanoed the rates for sterling-, wh.ich were again redt1ced on the more pa.cine aspect in. lla.y. Ra.tes were low i11 .lune, higher in July a.nd the early part of August, and then weaker again, s > that a small amount of gold w&s imported. During the balance of the year exports of grain and cotton were relatively small, bat there was a. considerable demand for American securities &broad, and rates did not to11ch extremes•in either direction. Late in December a sharp demand for short bills put up prices temporarily and abou.t $600,000 gold was shipped; but this was merely a. flu.rry a.nd rates fell off again immediately.  18S3.  Day  of January. ¥.~~OOHtli~i:~t.  ~  February.  March.  .\.pril.  Al'ly.  .•• 4.8l¼l~½ 484½488 4 84 4 87¼ 4 84' 4 87½ 4 84 4 87½ 4 84. 4 87¼ 484 487½ 8 . •• • 48llll85½ 9 ! 81 4 85½ 4 84 4 87¼ LU... 4 81 4 Sa½ 4 83¼ 4 87 11 . • 8. 4 84 4 87:-e 12 4 82 4 86 4c 8-i 4 R'i'½ IS . . .. 4 82 4 86 4 8i 4 87½ 14 . ... 482 186 484 487¼ l5 ...• 4 82½ 4 86½ S. lfl 4 82½ 4 86¼ 4 8l 4 87½ !.7 ••• 4 82½ 4 86½ 4 84 4 87½ 18 . • • ~4 81i 4. 87!,ii  8 ...• -I 81¼ 4 85½ 4.... S. 5 ... 4 81½ 4 85½ 6 ... 4 81¼ 4 85½ 'l .. . 481½485½  s.  iL: :~½a;½:~  48t 4 84 4 84 4 84 4 84 484  4 84 4 84 4 si 4 84 4 8l 484  487½ 485½488 4 8"i' Hol\<1ay, 4 87 ft 85½ 4 88  Ul7  4 87 487  s.  4 87 4. -87 " 87 l >;7 4c 87 -187  4 87 4 87  4~  486  489  s.  4 Sil 4 811 4 87½ 4 89½ 487~489Y2 487 489 4 87 4 ~  4 85½ 4 88 4!:i5½4!S~ 485½488 4 85½ 4 88 4 85½ 4 88 , 85½ , 88 S.  S. 4 4 83½ 4 86½ -1 4 88½ 4 SIS½ 4 4 83½ 4 86½ 4  a+½ at  487  :,.  S.  , 87½ 4 SS½ 4 91> 4 83½ 4 9l 488½  4 88 4 88 488 4 88 <I 89  4!t0  8R 4 ~½ 4 90 l:l6 4 88½ 4 ~ 86½ 4 88½ S. SR½ 4 &,½ 4 87½ 4 89½  88 484 8~ 4 83 4 !:i7 4 83½ 4 87½ t 84 4 88 4M 4 87½? SO ... 4 Sil 4 87~ SI .... 4 84. 4 87½  26 27 '28 29  ... ... . •. ...  1L  ::½!~+" !~g ai~ ui 4 4  4 M 4 84,  4 84  .. . .  . ... .. •• ..  High Uk  ow. ,  87½ 4 85 4 87¼ 4 85 -1 87¼ 4 85  4 8H 4 84¼ 4 88 Bl~ ft 85½ 4 SS½ 4 87   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  487 4 8'1' 4 87 4 ·57 4 87  July.  Si½  4 8:,:½ 4 87 4 87½ -l 87 8, l 87 4 85½ 4 88 4 87 4 85½ 4 i;a ••• ••  4b8½ 485 4 ~}ij 4 .fl5  4 88 4 S"l 4 88  s.  811 89  89 89  August. S.  s.  i  ¾a&½:~~ !~~~  October.  N'Ovember.  iOJ~/l1~~ 60d. 8~ight.  483½485½ 484½486½ 484  !~  4B-'3½485½ Hs4 483 485 48!  486 486  483~485½ 4-84 486~ S.. 48'\¼487 4c &½ 4 85½ 4 84½ 4 8'1 4 S3½ 4 85½ 4 St½ 4 8'1 • .sa~ 4 ~½ 4 84½ 4 Si 4 MS½ 4 86 ,l 84½ 4 81 4 8S 4 85½ S. 183¼485~ 484½48tl¼ -l8J 485½ 484½48'1 4 84 4 86 4 St¼ 4 Sn½ 8. 4 84!,,i 4 87 4 84 4 86 4 85 4 87 4 83 4 85½ 4 84~ 4 87 4 Ba½ 4 85½ 4 85 4 87 4 83 4 85½ 4 85 1 I 88~ 4 h8l/4 4 85½ S. 4 83 4 85'1! 4 85 ..; 4 89 483~485½ 484 486 H3 485½ 48li½489 8 8 4 84 4 B6 4 86 4 89¾ 4 84 4 86 4 84½ 4 Sil½ s. 4 87 4 90!,i .1.8.l.~486¼ 484 4 lH l63 485½ 486½490 0 481 86 4 8~ 4 84 4 ~ 4 88½ 4 85½ Holiday. 4 8'6½ 4 90 S. 4 Si 4 8tt 4 83½ 4 86 8. 4 84 4 86 4 84 4 86 4 88¼ 4 ,8 6 4 86 4 59·§· 4 tl4 4 Elf\ 4 St 4 86 4 86 4 89 -184¼ 4 86½ 4 84 4 86 4 83½ 4 86 4 86 4 Sil • •• . • • • .... . 4 84 4 86 • • • . . .. .... 4136 4 sg  !~ ui !t½!~¼ 4 81½ 4 86¼  a.t½ ug¼ t ~~ l ~  a~  4 85½ 4 87 4 Sn½ 4 87  4 88 • 87  4 87½ 4 89 4 85 4 86  4 86 4 87½ 4 86½ 4 88½ 4 St½ 4. 86½ 4 85 4 87 4 84 i 84¾ 4 86 4 84 4 86 4 83 ·4 85 4 88¼ 4 85¼ 4 8S  S.  4 90 4 89  ft83~4~  l 83 4 ~5 4 84 4 86 4 S:1½ 4 85½ 4 84. 4 8tS 4 83½ 4 85½ s. 4 SH½ 4 85½ 4, 84 4 8fl S. ft 84½ 4 86¼  4 85¼ 4 86½ 4 85¼ 4 86~ S. I es 4 86 4 85 4 86  S.  486  December :08.~½i~ig~t  4 85!,,e .( 8~½ 4 83 4 8"i 4 84½ 4 81:S½ Holida.y. 4 83½ 4 86 4 8fJ 4 88 4 83"1> 4 85½ S. 4 84 4 86 4 84 4 86~ 4 Sil 4 81-1 4 83¼ 4 85H 4 84½ 4 8~¼ 4- 84 4. 86 4 84 4 86~ l 86 4 88 S. 4 84 4 86 4. 83½ 4 85½ S.  486½ 48fS 488 486a Holiday. 4 86 S. 4 86 4 86 4 83 4 86 4 s'i' 4 ss 4 86¼ ._ 81 4 ss 4 86 4 87 S. 4 86 4 88 4 56 4 81 4 85 4 8&¼ 4 86½ 4 88¼ S. 484½486 48ff½i48R½ l 86 4 87 4 S5 4 86¾ 4 86 4 88 4 86 4 87 4 85 4 86½ 4 86 4 8!1 4 Ba 4 86~ 4 85½ 4 K7½ 4 86 4 o7 4. 85 4 86~ 4 85½ 4 fl,½ !~~ 487 . ~½ 4 87 4 85 4 86 4 8? 4 85½ 4 87 4 85 4 ft7 485½486¼ 486 487¼ S.  s.  Sentemb'r. ~~t.  fOJ~~i~~ ~Obt  4 87 4 89 4 81½ 4 89 4 87½ t 89 4 8'i'¼ 4- ~ Holiday.  • ••• ••  4 85½ 4 88 4 87 4 89 4 88¼ 4 86½ 4 85½ 4 88  486 4 86  Holiday. S. 4 ti!> 4 86  !~: u-.,bsu½ !~½!:½ !~  S. 4 4 4 4  ~~t.  48ri Us7 4'.:88 485 4 87 4 8~ 4 1:15 ! 86¼ 4 R7½ 4 E5  1~:~ , 86 .,h 88 :~iig~:1 a:  21 . 4 83½ 4 87½ 4 8l 487~ 4 84 4 St)~ 41i6½ 4 88¼ 4 87½ 4 89~ t>.2 •••• 4 83½ ft 87½ 8. S. 4 87 4 89 4 Si½ 4 891,6 28 484 488 Holiday. 484½487 4 7 48\:1 487~4&1½ ~--··  .June.  ~Od. 8:ip:ht. 60d. 8:ight. :oJ~1i\tt. rib~- ~ii~t. rsg~~i~~t. ri·  4 84½ 4 Stl¼  4 84½ 4 86¼\ 4 85½ 4 87¼ 4 8-l½ 4 86½ 4, 85½ 4 Si½ S. 4 85½ 4 S'i¼ 4 8-l 4 86  !~~  f~Ma v~  s.  4 86 4 87 4 90~ ft 85½ ft 89½ ' ~  INVESTMENTS AND SPECULATION. INTEREST AND INCOME TABLES. In plirchasing securities for investment, the important points considered are the following : first, that the principal and interest shall be secure beyond question; second, that the profit, or annual rate of interest realized on the outlay, 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 availaole to pledge as collateral for loans, in case it is desired so to use them. The great bulk of investments in stocks and bonds is divided among (1) U. S. Government bonds; (2) State, city and county bonds; (3) bonds or stocks of corporations; (4) bonds and mortgages on real estate. As a general classification of these several forms of investment, the most obvious one is that which divides them into two sorts: first, those depending on the character, standing, and permanent solvency of the party issuing the obligation; second, those having a lien on specified pieces of property, and dependent mainly on the value Of such property for their security. In the first class belong the U. S. Government bonds, State bonds, City bonds, County and Town bonds, and the stocks or plain bonds of corporations. In the latter class belong the mortgage bonds of railroads or other companies, and real estate bonds and mortgages. Tb.is distinction is mainly important in presenting to the _investor the option of trusting to the integrity and probable permanent stability of the government or corporation iss11ing a stock or bond, or, on the other hand, of trusting in the value of a. specified piece of property, in a certain location, on which his bond is secured.  INTEREST AND INVESTMENT TABLES. The tables following show (in the "Compound Interest Table") the accumulation of principal and interest on one dollar at T&rious rates per annum from 1 to 10 per cent, interest being compounded semi-annually, and (in the" Tables for Investors" the rate per cent per annum realized on securities purchased at various prices, from 10 to 300. Thus, by use of the tables, it is 110en at a glance that a 7 per cent $1,000 bond purchased at 86 pays 8·13 per cent a year on its cost. The accumulation of prin, mpal n.nd interest is seen to be in five years $1,410·50, in ten years i1,9S9-'70, which in this case would be the result of an outlay of $860, provided the interest was re-inv"-8ted semi-annually.  COMPOUND INTEREST TABLE. Number  or  1 per cent.  Years.  II  2 per cent ~  I  I  3 per cent.  4 per cent. , ·  I! 4¼cent.per  5 per  cent.  II  6 per  cent.  per 17 3· 10 per I IJ.tJ 7:ent. I cent. j  8 per  cent .  I  10 pet  cent.  t:::::::::::::::::::::::::: lI 'i:8~J! sr;~g \'f~!! $r~~ $1:~ii $n~1 \ 'H!ig II 'fmi 'ft~~ srm! 'fi , 1  1 -0407 1·0511 -6~ ...:..... . .- .-..-.-. . -..--..-.-..-...-.-. . -..-.-.'-1-=-,.1.,...·-=00=·1-:--6--':-17 .•.... . ........ • ... . . . ...•• . 1·0723 8...... . .......... ... .... 1·osao 9 . .. . ......... ············ 1·0949 10............ .. . ... . •. . ... . . 1· 1059  6::::.::::::::::: :::·:::.:::.  I  11 . . .. ······· · ···· ·· ·· · ····· 1 $! · 1170 11 .. . ............... ........ 1·1281 1a. .......... . .. . . .. . .... . ... 1·1894 14 1·1508 1 ·1623  15:::: ::::::::::·· :::·:::: :::: I  26 . .. .. . ..• .• .•. ... . ••• . ··  27 ...•.•••.•• .. •••• . •• ••• . 28 . . . . •. . ..•.•..... •••• ••.... . 29 ......• . ....... . .. . •....••. 30 ····· ·· .... .. ... . . . . ..  3 8 S3  $1•l i40 1·1857 1·1976 1·2096 1 ·2218 $1"2341 1 ·2465 1·2590 1·2116 1 •284a ,1 ·2973 1 1 ·3103 1 ·3235 1 •;;357 1 "3501 11 ·,,637 1 3173 1 ·3911 l ·4051 1 ·4192 1 $1 ·4334 . 1 ·4478 1 •4623 1 ·4770 1 ·4918  L:.::::::::.::::::::::::::·1  34 85  :::::::::::::::::::::::::::: I  ·86 ... . .....••.. . .........•. · 87 . .. . . . . . .. . •••. . •••• .•.  88.....  . .... .... ..... ... . . ..  ao. ... . ••. .••• •• •• ..•. •••. ••• iO.... . . . . . . .. .. .. ..  1  I $11 ·"2<146 I $11·4295 "3875 I $1 5458 2696 1 · 5os2  I  1·2952 1 3.212 1·3478  I $!1·4025 ·;ms  I  :!.· 4307 1·4594 1 ·4888 I $1 ·5187 1·5492 1·5804 1·6121 1•6445 11 ·6776 1 ·711:3 1-7457 1·18os 1·8166 $1 "841!0 1·ssoo 1 ·9176 1 · 9562 1· !1955 $2 ·0356 2"0765 2·1183 2·1608 . 2·:J043  I  I I I  I I  47 .. .. .... ...• •••• •••• •••. .•..  48 .... .........•......... ·•• ·  4i.. .. .. . . .... .. . .. ... . ... . Ii() •••••••• •• • • ••• • • ··-·... . ... .   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  1 $1 · 5858  1 ·6017 1 •tit78 1 ·6330 1 ·6'9'  1  I  ! I  1  1 •_4•,2 1 517,. 1 ·5630  I  i'  1'  I  I  I  1·6732 1 ·74os 1 ·8111  I I  I I  $1 ·6301 1·7044 1·7820 1·8631 1•9479  I I  $1 · 7234 1·so86 1 ·9001 1·9953 2·0933  II  $2·]9821 2·3517 2 5::i72 2·7268 2·928t  $2"36871 2·5519 2·7710 2·9971 3 ·2417  I  I  $1 ·9161 2 -oa~6 2 ·1554 2 ·2878 2 4271 ·  I  I  $2 · 1f115 2·2833 2·4459 2· n201 2 ·8068  I  I  1·4773 1·6287 $1 ·7~ 1"9747 s·1s~ t·4064 S 6530 $2"92!50 s -2241 a ·MM s -9199  4·a21s  I i11·6589 ·0103 $11··8843 s22·1272 ·0.%5 I i22·3142 ·2027 $2 ·57491 sa3 ·oo67 1461 $3 ·50621 t4 ·7fi46 9504 2 ·7317 ·22e8 I $33·38(10 3 ·7923 e-~119 1·7091 2 ·0391\ 2·2240 2 ·4313 2·S981 3 ·4502 3 "6312 4·1018 5 ·7881 1.7607 2·1220 2 ·3252 2 ·5544 3 ·0745 3 6960 z..9Qll 4·-1365 6 ·8816 1 ·8140 2·2018 2 ·4310 2 ·6837 3 ·2618 3 ·9592 4·1911 4 ·7!l85 1·036t $1 ·!:!686 :::-,--r- $::--:2,-·2=-:-!J:= 70=--..,... 1-:::$c=2-:.ec-,4-:-: t5:--,l-=$-=2 --;::s= 19:--:::6---:l'--$::-:3,-·4..,.,6=o5~ ,--=$,....,4-::.2,....,412c-"-j--:c*..,.4...,.·r,-:-: 02c-c6-',l--:-$5,...·-1000 ~--'l'--....,.•..,...7-=·7~574 1·9253 2" 3898 2 ·5572 29624 3 "6712 4 -5433 4 ·8373 5 ·6136 8"55'5 l·!J835 2· 4863 2·•1781 3 ·1123 3 ·8948 4·8669 5 •009 6 ·0716 9 ·42W 2 ·0434 2·5868 2 •!i045 3· :. 699 4 · 13\lO s ·2rn6 I 5 :5832 5·5570 10·3957 2 •, 052 2·6913 3 0367 3•4854 4 •3836 fi •5849 I 5 "9982 71030 11 •(611 j s2 · rnss 2·soo6 $3 ·1749 sa ·6094- ~ l-$ .,...4-.6-.5-06_ 1_$_5_·9.,... s2_1 _ _ $_6_··4-4-41---'-1 -•-7·-68-2_6_1:__•~1-2-·6-sao 2·2344 2 ·Q131 3·3193 3 · 7921 4 ·!1338 5·4088 5·9231 8·ao94 1s·9311 2·3019 3 ·0318 3 ·4703 3· !1841 5 ·2343 6·8653 7·4377 8 ·9875 15-3591 2 ·3715 3 ·1543 3·6282 4·1858 5 ·5531 7 ·3543 7·9900 9·7208 16 ·9884 2 ·4432 3 ·2818 3 ·793:~ 4·39i7 5 "8913 7 ·8781 8 ·5846 10·5148 18 •66il 12 ·5170 $8 "96ti0 $4 6203 I $6·2500 t8 ·4391 $9 ·2227 111 ·3742 ~ ,3· 4144 2·5931 3 ·5523 4 "1465 4·8542 6 ·fi3fl7 22· 8914 9·0402 12 ·3024 9 "9087 2"6715 4 ·3ll51 7 ·0345 5 09!19 3 "6958 9·6841 10 ·5453 15·011w 18 "3062 4 -5324 2 ·7522 8 ·8451 5"3581 7 ·4629 17· 14 · 3920 10 3738 11 41!66 6 ·62!14 2·8:!54 4·0005 3() ·4081 4" 'i 387 7·9174 11 ·1126 I 12 ·2867 15·M&l $2 "9211 $4 ·1621 $4 ·9543 $16 ·&l67 $88 ·5t4t $5·9144 $8 ·3996 / $11 ·9041 .13 ·2000 3·0094 4 -3302 5 · 1798 6"2138 8 "9111 12 ·7520 14·1811 18 "2105 ae·~• 3 ·1004 4 5052 5 "4146 9 ·4538 13·6709 H\ ·2353 19 ·1i965 6 ·5284 '° ·74g,r 3 · 19-11 4 ·6872 5 ·6610 6·8589 10·(295 l4·6Wi 16"3677 .21 ·so38 "4·~14 3-2907 4·87ofi 5·9288 7 ·2061 . lO·MOa 15·6877 1 17·5944 28 ·0422 49·&31& $3 ·;J!JU1 $5 "07--s6 $6 ·1!186 f&4 ·608& $7 ·5709 I s11 ·2ssa $16·8050 I t;18 ·8915 !) ·2785 3 ·4926 6·4807 '7 •9542 11 · 9758 18 · 0020 20 · 2956 eo ·toiw 3"5982 6·7756 5 "4!128 8 ·3569 . 12·7051 19 · 284i 21 8048 ee·rm 3 ·7070 7 ·0810 5 ·7147 8·7800 13· ss32 20 ·6577 23·42!50 7S·t80T 11 ·8191 6 "9156 7 ·4062 9 ·2245 14 ·7287 22·1290 25 · 1663 80 ·681't $3 ·9345 $6 · 1858 $7·7430 $36 "8813 $9 ·6915 .15·6267 $23 ·7052 $27 0869 4·-0432 6"4357 8 0954 10 · 1822 1 16 · 5773 25 · 8936 29 · 0466 89 "8908 4 ·1655 6·6957 8·4638 10 ·6967 17·681i8 27 ·2022 a1 · ~7 4.11-1459 4·2!114 6·9662 8 ·8490 '5·6M5 11·2883 18 ·6597 20·1a97 aa ·s"' 4 ·4211 9·2!516 '7"2477 11 ·8612 19•7941 11 ·2141 se·o11w &0·471G  I  70  I  I  I  I I  I  I  I  ~  I I  I  I  I  4~ . .... ..................... . ·  I  1·0828 1 ·1264 1 ·1715 1·1948 1·2184 1· 251,7 1·3168 1 ·aaos 1 ·3678 1·1045 1·1605 1 ·2188 1·2481 1 ·2800 1·3439 • 1·4105 1·129s ► 1·.i794 $::-,l,-·-::-:: 12=07=--.:....1-:;$:-:-l-::: .1-;:-:95::-;:5---',1~ $1:-:::--: 26-c;;:. 8::1-'-:-l-:::'-::-1-:::.3:::c 004;:-:---'-:l-$ ::;::-:1,-3 :;:--,4,--,,48 ;:-':-I' --::-$1::-.-:-: 42=5,.,.:::, -'-:1---=,....,. 1-=-·5-,11=0-':-t-$.,...,l-,_5c-=3-:-: 60,.....:,..l---,$1 ·ti0021 1 · 1494 1·2317 1·3193 1·3o43 1 ·1129 1· 5125 1·61&6 1"6502 1·7307 1·1725 1·2689 1·3726 1·4254 t ·4S45 1 ·0047 1·7339 1·772p 1·8720 1·191il 1 3073 1·4281 1·4913 1"o596 1 "7024 1 ·8574 1 ·9047 2 ·0247 1·22!!1 1·3463 t ·4858 1 5592 1·«385 h ,OH 1 -9~97 2 ·0462 t 1899  I  I  I  I  I  I  I  I  I  I  I  I  II  I I  I  I I  I  I  t  I  I  I  I  I  I  I I  I  ,~-  TABLE FOR INVESTORS. The following table shows the rate per cent of annua.l income to be realized from stocks or bonds bearing any given rate of yearly dividends or interest, from 1 to 20 per c~nt, when purchased at various pri«efl 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 ~2 (i. e. at 92 per cent of its par value, whateTer the par may btl), find 92 in the.eolumn of "purchase price" and follow that line across to the column headed "7 ~er cent," whicl:1 will show the correct figures-in the present instance 7"60 per cent. Purchue Price.  11 ....................... .  1  10  15 ...... ~ ............ . . ..  6 ·00  IO . ..................... . !51 . ........ . ............. .  14............  5  . ..... ..  !16 ................ .... .. . . ~  per I 2¼ per 13 per Ir 1'ficen ~. JI 2cent. I Ctlnt. cent.  1 per cent.  ... ................... .  80 .... . .................. .  u ........... .......... .  M . ........ . ......... ... . .. . . .... , 36............ Sd...... ................ o&o.... .• . .... ..... ... . . ..  ~........................  I  4•54 4· !ti 3·84 3·57 3·33 3·12 2 94 2·77 2·61 2·50  fg1·so 6 81  6 25  I  ~-sa 10 9·09 8·33  13¼ pex  I a ·so I gg I :.66 11·35 10·41  15 13 '63 12·50  cent.  i;.33 11·50 15·90 H·58  per I 4cent. :.&6 20 18 · 18 16·66  14¼ per  cent.  /  per II 5cent.  15¼ per  cent.  per 16¼ per 17 per I 7 3-10 I 7¼ per I 6cent. cent. Ipr cent. I cent. cent.  I I :30 gg25 as.., 1I ;~.66 ;gl 21·sa 22·50  I 20·45 18·75  22•72 20·83  I 22 ·91 25  1  r  27·27 2!>  I :g.aa  s2·50 29·54 27'08  1' Jg.66  as  II  i per 1 •¼ per cent. cent.  ~g II ~·33 I l:·oo j 37•50 40 36·36 I 303)\·-4118 I 34·09 33·33 31 ·2>  r1 1 35·50  31·81 29 ·16  I  :.66 42•50 38·63  35·41  per 19cent.  II :45 I  40·90 37·50  19¼ p~  cent.  7I  10 per  cent.  I1: .66 / :.33 47·50 j 50 45•45 4::J·18 I 89·58 41 ·66  p~r II 11cent.per !I 12cent.· er II 15cent.per II 20cent. 1 I~gg. 33 , 1~~·13 ·I : 1·100 75 I 05 50 45·83  &0  54•51 50  Ii~  68·18 62 ·5(}  90 90  83·88  s·as 2·27  ""········ ...............  2·17  iJfl . . . . . ... . ...............  .a................. ......  2·oe  . , ... .......... ........  j  11................ ........  )  1·95 6!............ .... ........ 1 1 92  1-,.. . • . ... • • • .. . •• . •  .. . ·  6'.... ........ .... .... ....  i6 ................... ....  111·ss ·ss 1·81 1·78  66.... ............ ........  .. ::::::::·::::::·, !:~: •:::::·: IIU........................ 1·59 1·66 1·63 t·61 1·s8 1 56  llO .. ......... . ...... .... 11 ........... ..... • .... .......... •. 62.... ...  ua.... ............ ... ....  tM........................  15.... ....... . .... .... ... .  l!S........................ .... ..... ... 87.... .... tlS .... ................... 89. . ......... . ........... .... .... 10............  1 · 53  1·51 1•49  11·47 1·44 1·42  1·40  'fl........................  12............... . ... .... '18 .......................  'J4............ ........ .... . . ... .... ... 15. ... ....  t·38  111·3536 1 · 33  'Ni .......... .-.............  7'7............ . ... ... .. ..  '18 ..... . . •· . • ••.•••. . • • 18........ ... . ... .. ....  1·a1  1 ·29  111 ·28 ·26 1 ·25  fl)............ . .. . ... . .. .  r~  ft.:::· .:::::::::::::: :::.  1·20  111 ........... . ..........  M . ... ....... ............  1·19  116............ ........  1·17 1·1"  8' . ... ... . .. . .... .... . ... 111.................... . ... 88 ........................ ,·  1  IO.................... . .. SQ . ...  ..................   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  1·1•  1· 13 1·1! 1· 11  I  I! ii I rn I rn I rn I rn I rn I Ii I rn I Ii I rn 11§ I Ii I 1H I rn 111: Il!H 111g Im; I1m 1 70  1 ·68  1"66  2 ' 27  2 84 2 80 2 ·77  3 ·40 3 ·37  a·sa  ll ' 97 3 ' 91  3·ss  4 ·54 4 ·49 4·44  5 ' 11  s·os 5  5"68 5·6t 5·55  fi •25  6 · 17 f:i •ll  6·81 tj ·74 6·66  7 ·38  7 · 94 ·  7·86  7·77  8·29 8 · 20  s·11  8"52 8 ·42  s·as  9 ·0\J 8·9B 8·88  9·55 9·55 9 · 44  10· 22 10 11 10  10 ·79 10'67 10'55  11 ·86  11 ·23 11·11  12 ·50  1m I l!H 18·6.'I  17 ·04  ii 22·72  1 p er cent.  Purchase Price.  M . . ..• .. ... . . ... ·· · · 1  92 . . . . ... .... · · - ·····  ..  IH . . .. . . . ............... . Qi . ... . . . .. .. ............  115 ... .  L  . .. . .  . .......  .... . .... . . .. ...... .  117 .. . ............ ' • ....  I  98 . .... · · · · .··..... · ·--·--·······--· 99 . ......... . 100 .. .. . • ·-· . . .. .. . . . 101. ........ . ....... , 102 . . . . . . . . .... . ·• • ••••·  1'()3 .............. ... ..... tot ..•• . ••.•.• . ...• • •.•.. . 101: . •••• •. •• • .•• . • .• ·-· •. .  ~ ~  0 E--.i  ~ ~ ~ f§ ~ ~  ~ ~  100. ···· · ... . . . .... . ... ,  167 . . . .•••••••. ••• .•..•••• 108 .. • . • •••..••••••• • . 109 ... .. . .... .. .... . ...... . 110 .. , . .• . ... ... .... ...• ...  Ill............ .. ········ 1  117 . ... · ··· ····--······ ... . 118 . . .. . .... . .......... 119 ••• •· ·· . • ... • ••... . ... . 120 . ... .. . . ....... .. .. •· . .  1  .,  ........... ..... ... . ,  ,~ .. ....... .... ······ 1 185 . . ... . .... . ...... .. ... 155 .... .... . . . . . .•• ..•... . 160 . •• • . . ... . . . . .••• . ••. ..  I  lfi5 . ..•..• .• .. • . . . . ..••... .  gt:::::: .::::::::::·::::I IM. ... ..  . .. ...  ·  t6fi ..... .. .. .. ... .. .. .. ...  1  •di.I .. .... . .. ... •• . •. . • . . • .  1Q5 .. . .... . ......... ... .  200.. ..  .. .. . ...........  ....... ......... ··1  210 .. ......... . .. . . . . ,. ..  ~~  225 .. . .. . . .....• •. ... . .• . • 280 ... ....... .. ........... 240 .. . .. ... · ·· •··· · . .. .. ...  l:::::::::::.=:::::::I 0  ~   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  · 99 ' 98 •97 · 96 ·95 ·Q4 · 93  · 91 90 ·90 '89  ·ss  122 . . .. . . ... . ......... .. .. . 12.'i . •. ••••. •••• •• ••••• .•• 124 ... ..•.........• . •... ... 125 . · ·• .· .. . . .. . .. ... . . .  140 .. ...... . ... • .. . . . .. 145 ... . . . . . .. ... ......... .. 150 ... . . . . . . ... ·• • . ...... .  l  ·112  112 .. , . . . . .. . ..... ......... 113 ..... . . ... . ... . ....... . 114 ... . . ..... . ... .. ..... . . 115 ..... .... . .. . . . . . .. . • . ..  116 •••••••...•• ·•••••  1·09 1 -os 1·07 1 "06 l '01:i 1 ·04 1 ·0:-i 1 ·02 1 ·01  ' 87 '86 '86 ·85 ·84 •84  '83 ·s2 '81 ·st ·so ·so ·76 ·74 ·71 '68 '66 ·fi4 "62 ' 60 '58 •57 •55 ·54 "52 •51 '50 ·47 ·45 · 44  ·43 ·41 '40 •36  ·aa  TABLE  I  lJ{Per cen t.  I I I  I I  I I I  I  I  I  1 ' 64 t · 63 1 · 51 1 ·511 1 · 57 l ' 56 1·54 1 · 53 1 · 51 1 ·50 1 ..48 1 ·47 1 · 45 1 ·44 1 ·42 1 ' 41 1 ·40 1 ' 38 1 ·37 l ' 1!6 1 ·35 1 ·33 1·a2 1 ·at 1 ·30 1 · 29 t ·28 1 ·27 l '26 1 · 25 1 ·23 1 ·22 1 ·21 1 ·20 l ·20 1 ·15 1· 11 1 · 07 1 ·oa 1 '96 "93 · 9()  I I  I  I  ·88 ·85 ·83 ·st "78 ' 76 ·75 ' 71 · 68 66 ·65 ' 62 ' 60  ·54  ·50  per I 2>, per I 3 p er II 2cent. I cent. cent.  I I  I  I I I  I I  I  I I  I I  2 · rn 2 · 17 2 · 15 2 ·12 2· 10 :i·os 2 06 2 · 04 2·02 2  t · 98 1 96 1 -94 1 ·112 1 ·90 1'88 1 ' 86 1 lil5 1' 83 1 ·st 1'80 1 ' 78 1· 77 1 7a 1·73 1 ·72 1 "70 1 ·59 l ' 68 1 ' 66 1 ' 65 1 · 53 1'62 1 ·00 l '60 1 ·53 1'48 1 "42 1 ·37 1•33 l · 2!l 1· 25 1 ·21 1 ·17 1 · 14 1 · tt 1 · os 1 05 1· 02  1 ·95 ·90 ·88 ·86 ·sa ·so "'i2 ·6(i  I I I  I I I  I I  I I I  I  I  I  I  I  I  2 ·74 2 ·71 :2 ·68 2"1i5 2·63 2 ' 60 2 ·57 2 ·55 2·52 2 ·50 2 47 2 ·45 2 42 2·40 2 ·a8 2 ·35 2 ·33 2 ·31 2 · 29 2 · 27 2 ·25 2·23 2 ·21 2 · 19 2 ·17 2 · 15 2 · 13 2 · 11 2 ·10 2 ·os 2 ·05 2 ·04 2 ·03 2 ·01 2 1 ·92 1-~5 l ' 78 1 ·72 1 "66 1 · 51 l '56 1 ·51 1 ·47 1 ·42 t ·38 1 ·35 1· a1 1 · 28 1 ·25 1 ·19 1 · 13 1 · 11 1 ·os 1 ·04 1 ·90 ·sa  13¼ p e1 14 per cen t . cent.  8 ' 2<J  I  I  I I  3 -25 3 -22 3 -19 3']5 a -10 3 ·09 a ·o6 8 "03 3 2 ·97 2 ·94 2 ·!H 2 ·88 2 ·85 2 "83  2·so  I I  I  I I I I I I  I  2 ·77 2 75 2· 72 2 70 2 67 2 · 65 2 · 68 2 "60 2 "58 2 ' 56 2 ·54 2 ·52 2 50 2 ·47 2 ·45 2 ·43 2 ·41 2 ·40 2 · 30 2·22 2 ·14 2 ' 06 2 1 · 93 1 ·s7 1 ·s1 1 ·75 1 ·71 t ·66 l ' 62 1 ·57 1-53 1 ' 50 l ' 42 l ' 36 l ' 3-3 1·ao 1 · 21; • -2r, 1 ·09 1  I I I I  I I I  I  I  I  I  I  I I I  I  I  3 ' 84 a ·so 3 ·75 3-72 3 ' 68 3 ' 64 a · 6o 3 ·57 3 ·53 a·50 3 ' 46 3 ·43 3· . 9 3 "36 3 -33 3 ·30 a -27 3 24 a -21 a·1s 3 ·15 3 ·12 3-09 a · o7 3 ·04 3 · 01 2 · 99 2"96 2 · 94 2 ·91 2 ·89 2·86 2 ·84 2 ·s2 2 -so 2 ' 69 2 ·59 2 ·50 2 · 41 2 ·33 2 · 25 2 · 1s 2 · 12 2 · 05 2 1 ·94 1 ' 89 1 ·s4 1· 79 1 ·75 l ' 66 1 ·59 1 ·55 1 "52 1 ·45 1 ' 40 1 ·27 1 · 15  I  I  I I  I  I  I  I  I  I  I  I I  I I  I I  I  I  I  4 ·39 4 -34 4 -30 4 -25 4 · 21 4 · 1fi 4 · 12 4"08 4-04 4 3 ·9fj 3 ·92 3 ·88 3 ·84 3 -so 3 ·77 3 -73 3·70 3 -135 3·M 3"60 3 -57 3 ·54 3 ·50 3-47 3 -44 3-41 3- 35 3-35 & 33 3 -ao 3·27 3·25 3 · 22 3'20 3 · 08 2 ' 96 2·85 2 ·75 2 "66 2· 58 2·50 2·42 2 -35 2 · 28 2 --,2 2·15 2·10 2 · 05 2 1·90 t ·Sl 1 · 77 1 ·73 1 ·66 1 ·50 1 ·45 1 ·33  FOR IN VESTO RS-(CoNCLUDED.)  per 14¼cent.per Ij 5cent.  I I  4 -94 4 "89 4 "83 4 · 78 4 · 73 4 ·68 4 ' 68 4 · 59 4-54 4 ·50 4 ·45 4 · 41 4 ·36  ·I ~  I  I  I I  I I  I I I  I  I I  4 ' 28 4 ·24 4 -20 4 ·16 4 · 12 4 ·09 4 ' 05 4 "01 3 ·98 3 ·94 3 -91 3 87 ::1 ·s4 3 ·s1 a ·7s 3 -15 3 71  3 ' 68 3 ' 65 3-52 3 ' 60 3 ' 46 3 ·33 a ·21 3 · 10 3 2 ·90 2· e1 2 ·72 2-54 2 ·57 2 ·50 2 ·43 2 · 35 2·ao 2 · 25 2 -u 2·04 2 1 · 97 1 ·87 1 ' 80 l '6.3 1·50  I  I  I  I I  I l  I  I I I  I  I  I I  I  I  I I  5 ·49 r, ·43 5 ·37 5 ·31 5 · 26 5 ·:Jtl 5 ·15 5 ·10 5·05 5 4 '!l5 4 -90 4 "85 4 -so 4 "76 4 ·7 1 4 ' 67 4'62 4 ·5s 4 ·54 4 ·50 4 ' 46 4 ·42 4 ·38 4· 35 4·31 4 -27 4 23 4 · 20 4 ' 16 4 · 13 4·09 4'06 4 · 03 4 3 "84 8 ' 70 3 · 57 3· 4i 3 · 33 3 ·22 3·12 a ·oa 2 · 94 2 ·85 2 ·77 2 ·70 2 · 63 2 "56 2 ·50 2 · as 2 ·27 2·22 2 · 17 2 · 08 2 1 "81 1 "66  l  5¼ per cent.  I I  I  I  I I  I I  I  I  I I I j  I  6 ' 04 5 ·97 5 91 5 ·55 5 -73 5 ·72 5"67 5'61 5 ·55 5 50 5· 44 5 ·39 5·33 5· 2s 5 · 2,'3 5"]8 {\-14 5 -09 5"04 5 4-95 4 ·90 4 ·R6 4"82 4-7~ 4·74 . 4·70 4·56 4 ' 62 4 "fi8 4 -54 4 ·50 4 -4,: 4-43 4·40 4'23 4 ·07 3 -92 3 -79 3 "fi6 3·54 3 -43 3· a 3 ·23 2 · 14 ::i ·on 2·97 2 ·s9 2 ·s2 ? · 75 2'61 2·50 2-44 2·39 2 -29 2 · 20  p er I 6¼ per I 7 per I 7 3-10 I 7¼ p er I ll per II 6cent. I cent. j cent. Ipr cent. i cent. cent.  I I  I I I  I  I l  I  I  I I I  I I  I  6 "59 6 "52 5 ·45 6"38 5· 31 ti ' 25 6·18 6'12 t; •Ofl 6 f' !J4 e·as 5"82 5 ' 76 5 ·71 5 ' 66 5 ·50 r-,·55 5 ·50 5-45 5"40 5- 35 5 -so 5·26 5" 21 r, · 17 5 ·12 5 "08 5 -04 5 4 ·95 4 ·91 4·87 4 '83 4 "80 4 ' 61 4 ·44 4 · 2s 4 ' 13 4 lJ·87 3 ·75 3 "6.'3 3·52 3·42 3 -aa 3 "24 8 ' 15 a -07 3 2 ·85 2·72 2 "66 2 ' 60 2·50 2 40 2·1s 2  I  I I I  I  I  I I  I I  I I  I I I  I  I  I  I I I ~  1 ·o.,  7 ' 14 7 ·06 6 "98 6"9! 6"84 6 ' '17 6 ' 69 6·68 6 "56 6 ·50 ;. ·4:-s 1;·37 0 ·31 6 ·25 ti •l!J  ti' l/.1 6 ' 0'; 6 · 01 5 "96 5 -90 5 "85 5 '80 5- 75 5 "70 r, ·55 5 "60 5 ·55 5 · 50 5"46 5"41 5·:37 5 -32 5 ·2s 5-24 5 -20 5 4 ·s1 4 · 64 4 '48 4 · 33 4 ·19 4-05 3 · 93 8 ' 82 3 71 3 "ti1 3 · 51 3· ,i2 3 ·33 3 ·25 3 .09 2 ·95 2 ·88 2 "82 2·70 2 · 60 2 ·36 2 "16  I I I I  I  I I I I  I  I I I I  7 ' 69 7 "fi6 7 ·52 7 · 44 7· 36 7 · 29 7 ·21  1·14 7 ' 01 7 6 ·!13 t,·86 6 ·79 6 '72 6"66 ti till 6 "54 6 ·48 5 · 42 6 ' 36 6 ' 30 6'25 6 · J9 fi · 14 fi'OS 6 ' 0:-1 5 ·98 5 ·93 5 ·8s 5 ·83 5" 78 5 ·73 5-59 5 "65  n· 60  5-as 5 ·1s 5 4 ·8 ~ 4 ' 66 4 · 51 4 ·37 4 -24 4 · 11 4 3'88 3 ·7s 3·6::i 3 · 58 3 ·50 s ·33 3 · 1s 3 · 11 a -04 ~-91 2 "80 2·54 2·33  I  I I  I  I I I I  ~  I I  I  I  I I  s -02 7 ·93 7 ·84 7 ·;5 7 "68 7 ·50 7·52 7 -45 7 · 37 7 ·30 7 · 22 7 · 15 7 -os 1 · 01 6 ·95 6 "8d 6 · f12 6 ·75 6'6;} 6 · 63 5 · 57 6 "51 6'41\ 5-40 0· 34 6 "29 6· 23 6 ' ]8 6' 13 6 ·08 6' 03 5 ' 98 5 ·9=-3 5 ·88 5 -so 5"61 5 ·3=-3 5·21 s ·oa 4 ·86 4 -70 4"56 4-42 4"29 4"17 4 ·05 3 · 94 3 "84 3· 79 a -55 3 -47 3 -31 3"24 3-17 3 · 04 2 ' !12 2 ' 65 2· 40  I I  I  I I I  I I  I  I  I  I I  I 1  I  I  8'24 8 15 s ·o6 7 -97  1-s,  7 ·s1 7 · 73 7 ·55 7 ·57 7 ·50 7 ·42 7 ·35 7 "28 7 ·21 7 ·14  7·07 7 5 -94 6 '88 6 "81 6'75 6 "69 6 ' 63 6 · 57 6·52 6 ' 46 5 ·41 6 '35 6 ' 30 0·25 6 ' 19 6 14 6 ·09 6 ' 04 6  5 ' 76 5 -55 5· 35 5 ·17  5 4 ·83 4 ·6~  H,+ ,t ·~  ue 4 · 7fi 4 ·05 3 · f14 3·84 3 -75 3 · 57 3 ·40 3 ·33 3 26 3 ·12 3  2·1~ 2·50  1 8¼ per ceut.  8 · 79 ts·fi9  s·oo  I  I  I I  I I I I  I  I I I  8"51 8 ·42 s -33 s -2,i s · rn s·os 8 7 -92 7 ·84 7 "76 7 69 7 · 6! 7 · 54 7 -47 7·40 7·33 7 -27 7 ·20 7 ·14 7 ·07 7 ·01 5 ·95 6 "89 6'83 5 · 77 5 ·72 6 ·66 6' 61 5 ·55 6'50 6 ' 45 6 ' 40 6 ' 15 5 · 92 5 -71 5 · 51 5 · 33 5 "16 5 4 ·s1 4 ·70 4 · 57 4 ·44 4 -32 4 -21 4·10 4 3 -so 3 "63 3 ·5;; 3 -47 3 ·33 3 -~o 2·90 2 ·66  I I  I I I I I  I  I I  I  I  I  I  I I  I I I  I  9 ·:34 9 -23 9 -13 9 ·04 8 ' 94 8 ' 85 8·~6 8 ' i7 8 "58 8"50 8' 41 s ·a.s s -25 8·17 s -09 8 01 7 ·94 7 ·g7 7 -79 7 ·72 7 ·65 7·58 7 ·52 '?'45 7· 39 7 ·32 7"26 7 -20 7 "14 7·os 7 ·02 6 ·96 5 ·91 6 ' 85 6'80 5 ·53 5 ·29 6 ' 07 5 ·86 5"66 5 "48 5· 31 5 -15 5 4·85 4·72 4 59 4 -47 4-35 4 -25 4'04 a ·s6 a -77 3 "69 3 -54 3·4U 3 ·09 2 · 83  I I I  I  i  I I I  I I I  I  I  I  I  I I  I  I  9 per 19¼ per cent. cent. 9 ' 89 9 · 7s 9 · 57 9 ·57 9 ·4T  9 ·37 9·27 9 "18 9 ·09 9 8'91 8 "82 s -73 8 ' 65 8 ' 57 s ·,w s -41 s·~ 8"25 8 ' 18 s ·10 s ·oa 7 -95 7"89 7 "82 7·75 'i ' 69 7 ·62 7 ·5(S 7 "f\0 7 ·43 7 · 37 7 ·31 7 · 25 7 ' 20 5 ·92 6'66 6"42 6 ' 20 6 5"80 5 -5~ 5-45 5 ·29 5 -14 5 4 "86 4 ' 7:i 4-51 4·50 4 ' 28 4 "09  4  3 "91 3 -75 3' 60 3 27 3  I  I  I I  I I I  I I I  I I I I I  I  10·44 10 ·32 10 ·21 10 10 18 9 "8!1 9 -79 9 · 69 9 -59 9·50 9·40 9 -31 9 ·22 9 · 13 9 •04 8 · 96 s ·s7 8"79 8 ' 71 8 ·6S 8 "55 8 "48 8 ' 40 8·33 8·26 8·18 S · l! s ·o5 7 ·98 7-91 1·sr; 7 ' 78 7 -72 7 ·115 7 · 60 7 ·30 7 ·03 6 "78 6 ·55 5-3:-3 l:i ' )2 5 ·93 5- 75 5 ·58 5 ·42 5 "27 5 · 1:i 5  4 "87 4 •75 4·52 4-31 4 · 22 4 ' 13 3 -90 8 '80 3 ·4j 3 ' 16  per lI lOcent.  I  I I  I  I  I  I I I  I I I  I  I I  I  I I  10 · 9s 10'86 10 · 75 10 ' 63 10";,2 10 ·41 ]0 ' 36 10 · 20 10 ·10 10 9 "90 9 · 20 9 ·70 9'61 9·5j 9 ·4a 9 -34 9 -25 9 -17 9 -09 9 8"92 8 ·84 R· 77 8'69 8 ' 61 8 ' 54 8 ' 47 8 40 8 ' 33 8 ' 26 8'19 8"13 8 ' 06 8 7 · 69 7 ·40 7 14 6 "89 6 ' 66 6 ' 45 6 ' 25 6 ' 06 5 ' 88 5 -71 5 -55 5 -40 5 "26 5 ·13 5 4 ' 76 4 •54 4 •44 4 -34 4 ·16 4  :-1·6,~ 3'3.'3  11 per cent.  12 er cent.  I 12·0& I I  I I  I I I I  I  I  I  I  I I  I I  I  II I  I I  11 ·95 11 ·82 11 · 79 11 ·57 11 ' 46 11 ·31 11 · 22 11 ·11 11 10 ·s9 10 ·78 10 ' 67 10 ·57 10 ·47 10 ·37 10 -~s 10 · 18 10·09 10 9 -90 9 ·s1 9 -73 9 ·64 9'56 9·4g 9 ·40 9 ·32 9 -24 9'16 fl ' O!l  9 -01 8 · 94 8 '87 s ·so s •41j s · ,4 7 ·85 7 ·58 ; ·33 7'U!:I  6'87 6 ' 66 6 "47 6 "28 6 ' 11 5 94 . ' 78 5 ·64 5-50 5"2.'3 5 4 ·88 4·78  •US 4 ' 40 4 3"66  I I  I I  I I I I I I I  I  13 · 18 ]8 ·()4 12 ·90 12'76 12 ' 63 12 ·50 12 ·37 12 · 24 12 · 12 12 11 ·ss 11 ·•;5 11 ' 65 11 ·53 11 ' 42 11 ·32 11 · 21 11 ' l! 11 10 ' 90 10 · &1 10 ·71 10 ' 61 10·52 10 ·43 10 ·34 10 · 25 10 ·16 10 ·08  15 ;:,er Ct:nt.  lti ' 48 rn ·ao 16· 12 15 ·95 15 ·79 15· 72 15 "46 15 "30 15·15 15 14 '85 14 ·70 14 ·55 14 42 14 · 2n 14 · l 5 14 "01 13 ' 88 13 ' 76 13-53 13'51 13 ·39 13 27 13 · 15 13 · 04 12 · 9:3 12 ·s3 12·71 12 ·fio 10 12 · 50 !l '91 12·39 9 ·83 12 ·29 9 ' 'i6 12·19 9 "67 12· 09 9"60 12 11'23 11 ·53 8 ·88 11 · 11 8"57 10 ·71 s · 21 10 ·34 8 10 7 "i4 9"67 7 ·50 9·37 7 · 27 9 · 09 7 ·05 s ·s2 6 "85 8"57 6·6fis-33 6"48 8 ' 10 5 ·31 7 ·89 6 ' 15 I 7 ·59 6 I 7 · 50 5 ·71 7 · 14 5 ·45 6 ' 81 5 ·33 6 · 66 5 "21 6 'f.2 5 6 ·25 4 ' 8U ti 4 ' 36 5 -45 4 5  20per cent. 21 · 97 21 ·7;{ 21 ·ll() 21 ·27 21 ·0i, 2() ·88 20'61 20·40 20 ·20 20  I  I  I  rn ·so  ]!)·6()  i.9·41  I  I rn-04  I  I  I  I I  I I  I  I I  I  II  ,. I  I I  18·86 18"69 18 5! 18·34 1s· 1s 18 01 l7 ·85 17"69 17 ·54 17'39 17"24 17 ·09 16·94 16 · 80 16'66 16 ' 52 16 ·89 16 ' 26 16'12  I 16  II .II I I  19·23  I  15 '88 14'81 14'18  18"79 J8·3S 12 · 90 12·50 12 ·12 11"76 11 •42  I 11 · 11 10·s1 I 1010 · 5225 I 109-52  I I  !l'09 s ·88 8 ·69 s ·33 8 7·27 6"66  1  31  STOCK SPECULATION. STOCK SPECULATION.  SpecuJative transactions, as distinguished from regular investment dealings, &re those conducted on "margins," and m whlca the operator does not pay or receive the actual price of the stocks bought or sold, but simply places a. sufficient margin in the hands of his broker (usually 10 per cent of the par value) to protect the latter against loss from fluctuations in the price. A party who p-arch&3es stocks in anticipation of a rise, but pays the actual price thereof, is not, according to the usual acceptation of the term enga~ed in -speculation. It shouid be clearly understood that the ultimate responsibility in stock operations is with the customer. He runs the risk of the iailure of his own broker; nor can he hold him responsible for losses occasioned by the fraud or failure of others with whmr he had made contracts. The broker stands in the position of an agent acting for his principal. It is, therefore, hardly necessarJ_ to rP-mark upon the importance of dealing through brokera who have both integrity and pecuniary responsibility. The grea.t central point in stock ~peculatioa, about which the whole business revolv"'s, is the fa.ct that on the purchase or ea.ls of the usual amount of 100 shares of stock, representing a par v:Llue of $10,000, each fluctuation of 1 per cent from tht, purchase price occasions a. gain or loss of $10:), and this if-I the same whether the purchase is at a price above or below par. Next comes the question of interest, which is charged on the actual amount that the stock costs, plus the broker's commission for buying, and is usuaJly at the rate of 6 per cent to customers, though higher rates are charged when the money market is in such a conditio1:1, that money for carrying stocks commands higher figures. Prior to the repeal of the Usury Law as pertaining to call loans in New York (by the Act of 1882), it was customary in times of monetary stringency to charge commissions for obtaining loans, which commissions varied from 1-64 to 1 per cent a day, and were a very severe tax on stock operators. Subsequent to the que1:1tion of interest is ihat of commissio.Qs, which are fixed in speculative transactions at ¼of 1 per cent on the par value of the stock, amounting to $12 50 for buying 100 shares of stock and the same for s"lling, thus making the cost of one "turn'' in stocks just $25. The Stock Exchange does not allow any transactions to be made by its members for outsiders at leis thau ¼commirtsion. Dividends paid during the pendency of a contract always go to the nominal owner ot the stock. 'fhe whole class of stock operations ordinarily carried on in New York may be classified as follows : 1. Buying for a rise, or going "long" of stocks. 2. Selling for a decline, or going "short" of stocks. 3. Buying or selling as above, but on '- options." 4. Buying or selling "privileges," generally known as "puts," "calls" and ·' spreads." The last-named are not recognized by the New York Stock Exchange. 1. Buying for a rise is by far the most ordinary transaction with non-professional speculators. In this case the customer usually deposits $1,000 in his broker's hands as a 10 per Ct>nt ' margin" on 100 shares of stock which he orders to be purchased, and which his broker holds or ''carries" for him until ordered to sell the same, or until the margin is about exhauste<!. fo the latter case, if the customer, on request, fails to put up more margin, the broker is at liberty to sell the stock immediately, and charge him with the loi:,s, if any. Interest is charged the customer on the purchase price, with buying commission added, usually at 6 per cent, as long as the stocks are carried. In case of a tight money market the broker is enti1led to charge his customer any additional price which money actually commands for carrying the stocks. A party carrying stocks for & ris6 is said to be "long" of tbe market, or a "bull." . 'a. Selling for a decline, or going "short" of stock~ (bdng a "bear'), is also a very common transaction, and is simply the opposite of buying, as above, ex:cept that the seller, not having the stock, is obliged to borrow it for present delivery, and take the !'isk of buying it back at a future day, to return to the lend.-r. Aaide from the ordinary fluctuations of the market, the chief risk m thus " . elling short" is in the d1ance of a '·corner" i ,1 the stock in case a. ciique get control of it and force prices up to extraordinary figu.:es. This is a rare operation, but has a.t times been effected .i n the :N'ew York market with disastrous ~nsequences to those who were "short" of the cornered stocks. As a general rule, nothing is paid for the use of the stock; but in 0ase it is scarce, a. consideration has to be paid for the use from day to day. Margins and commissions are the same a8 above. 3. Buying or selling on "options" is a transaction io which the purchaser or seller, as tLe agreetnent may be, has the option to ~u for or tender the stock at tbe price named, at any time within the period limited by the contract; but the Stock Exchange does :.:10t recognize contracts running over 60 days. Thus a party anticipating a rise in stocks purcuases 100 shares, "buyer 30," or on :iis option to call for the delivery of the stock at any time within 30 dn.ys, at the price named; this price is usually somewhat 1.bove thd current price at th,, time. If a decline in stocks is expected, 1t sale is similarly made "seller 30," or at seller's option to ieliver at any time within 30 days at the price named, and the price is usually more or less be!ow the market at the time. In purchases on buyer's option (for uny time over three days) the ; uyer is charged with interest on the priet, of the stock up to the tim 6 he calls for it. In sales at seller's option the Reller is credited with interest on the price ef the stock till he chooses to tender it. Interest in either case is at 6 per cent, according to a rule of the Stock Exchange; and at the e~d of the optional period the seller is obliged to deliver, and the buyer to recehe, the stock, if the contract has not previouFly been closed. Margins and commissioni, are tLe same as above. 4. Stock privileges, or" Puts," "Calls," and '' Spreads" or., Straddles," as they are commonly called, a.re contracts ent.itling thd holder to r, ceive or deliver catain stocks at any time within a period limited (usually 30 or 60 days) and at a price therein specified; in the case of" spreads" the privilege is either to receive or deliver. A certain cash price is paid for the contract by the purchaser, and his entire liability in the transaction is limited to that amount; and, as the question of interest does not enter into the matter. tbe uncertainties of the money market netd not be taken into consideration. The amount paid for a 100 share privilege ii, generally $100 for 30 days, and $150 to $200 for 60 dayi;:, and for double privileg~s a larger amount. The variance from the current market price at which privileges on different stocks are sold vaties widely, according to the character of the stock named and the condition of the market at the time. A '' Put" enti, lee the holder to put or deliver stock to the signer thereof, within the time and at the price therein na.mea, and the contract reads substantially as follows: NEW YORK, - - - . 1S-.  r·on V A.LtTE RECEIVED, the bearer may ddiver nu One Hilndr, d Sh,, res of the stock of the - - Railroad Comp:my, at the price or time in thirty days from date. 'l'he under!ligncd is entitled to all dividends declared during the time. (Signed)  per cent, any  A "Call" entitlet:i the holder thereof to call for or demand stock from the signer therenf, according to the tetms specified, and reads a.bout as follows: Fon  NEW YORK. - - - - , lb-.  VALU E RECEIV&D,  the bearer may call on me for One Hundred Shues of the Stock of the - - - Railroad Company, at the price of per cent, 'rhe bearer Is entitled to all dividends declared during the time. (Signed) - - ---.  any time in thirty days from date.  -~ "Spread" is a double privilege, and entitles the holder either to deliver to, or demand from, the signer thereof, the stock.II named in it, according to the terms of the agreemt>nt. If the prices named in both cases are the same, then it js known as a "Straddle." The contract reads substantially 11s follows: •  NEW  YORK, - - - . 18- .  FoR Y ALUE RECEIVED, the bearer may call on the under!ligned for One l'!undred Shares of the Stock of the - - Company, at - per cent, any time in thirty days from date. OR THE BEARER MAY pnt or delivt r the same stock to the undersigned, at - per cent, any time within the period named. AU dividends declared during the time aru to go with the Stock. in l ither caee . .Expires - - - -, 18-. (Signed) - - - ~.  To ~e purchaser of ''Pui&," "Calls," -or "Spreads" th~re i1 ao liability to lose beyond the am.:>unt paid .in cash for th ~ oontraet·   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  UNITED STATES SECURITIES. PRICES FROM 1860 TO 1885, INCLUSIVE. The debt of the United States in 1860 was only $64,842,287, and from that point it steadily rose with the issi e of bonds and Treasury notes for war purposes, until it reached $2,773,236,173 on the 30th of June, 1866, which was the maximum amount at the close of any fiscal year. From thence there was a steady decline in the net amount of the debt outstanding in every year, although in the fiscal year 1873-74 the serious financial crisis which began in September, 1873, and the subsequent re-issue of legal tender notes which had been withdrawn from circulation some years before, made the decrease only $4,730,472. The following is a statement of outstanding principal of the public debt of the United States on the 1st of January of each year from 1791 to 1843, inclusive, and on the 1st of July at the close of each fiscal year, since 1844, inclusive. In the year 1870, and subsequently, the totals given are the net amount of debt and interest, less the balance of coin and currency in the Treasury, as reported in the public debt statement on the 30th of June in each year. This method has been adopted as sb.owing most clearly the actual increase or decrease in the public debt from year to year, and will generally be considered the most satisfactory. Bonds issued to the Pacific railroads were not included in the statement prior to 1885, as these were assumed to be a conditional indebtedness for which ~he Government holds security in the shape of second mortgage liens on the several roads; but, under the new administration, in 1885 the form was changed, and the bonds issued to the Pacific railroads were included as part of the public debt, while the fractional silver coin in the Treasury was charged off as an asset unavailable; on account of this change in the form of statement, the debt on July 1, 1885, appeared as about $35,000,000 greater than on July I, 1884, and nearly $100,000,000 greater than if stated in the old form, by which the net debt would have been $1,386,555,527 on July I, 1885, against $1,450,050,235 July 1, 1884. Amount.  Year.  A.mount.  1807 ••• 180S ... 1809 .•. 1810 ..• 1811... 1812 ... 1813 ... 1814 .•• 1815 ..• 1816 .•. 1817 .• . 1818 .•. 1819 .• 1820- .. 1821... 1112 ...  $69,218,390 65.196,317 57,023,192 53,173,217 48,005,587 45,209,737 55.962,827 81,4'37,84.6 99,803,660 127,334,933 123,491,96:5 103,466,633 95,529,648 91,015,566 89,987,427  --- ------ --- ----- -Year.  1791. .. $75,463,476 1792 ... 77,227,924 1793 ... 80,352,634 1794 ... 78,407,404 1795... 80,747,587 1796 ... 83,762,172 1797 ... 82,06-1,479 1798 ... 79,228,529 1799 ... 78,408,669 1800· .. 82,976,294 l80l. .. 83,038,050 1802 ... 80,712,632 1803 .. • 77,054,686 180! ... 86,427,120 1805 ..• 82,312,150 180t .•. 75.723,270  Year.  H,Hl.616  UNITED  AmCMlllt.  1823 ... $90,875,877 1824 .•. 90,269,777 1825 .•• 83,788,432 1826 ... 81,054,059 1827 . .• 73,987,357 1828 ... 67,475,043 182$l ... 58,421,413 1830 .•. 48,565,406 1831.. · 39,123,191 1832 .. . 24,322,23,'5 1833 ... 7,001,698 1831... 4,760,082 37,513 1835 .• . 183t> ..• 336,957 3,308,121 1837 ... 1838 ... 1 10,434,22l  Year.  Amount.  Tear.  Aaount.  1'356 .•. 1857 ••. 1858 .. . 1859 . . 1860 .. _ 1861. . . 1862 ... 1863 ... 1864 .. 186f> ... 1866 ... 1867 ..• 1868 ... 1869 ... 1870 .. .  $35,586,956 31,972,:i37 28,699,831 44,911,881 58,498,837 64,842,287 90,580,873 524,176,412 l,l 19,772,l38 1,815,784,370 2,680,647,869 2,773,236,173 2,678,126,103 2,611,687,851 2,588,452,2l3 2.386,358.599  ----- ---1855·... 1839 ... $3,573,343  5,250,875 1840 ... 184.1. .. 13,594,48() 1842 .•. 20,601,226 1843 ... 32,742,922 1844 ... 23,461,652 1845 .. . 15,925,303 1846 ... 18,550,202 18·1 7 .. _ 38,820,534 1848 .•. 47,044,862 1849 .•. 63,061,858 1850 ... 63,452,773 1851. •• 68,304,796 1852 .•. 66,199,341 1853 ... 59,803,117 1854 .•• 4'2,242,222  STATES DEBT STATEMENT DECEMBER 3 I,  I  I Year.  Amount.  -1871 - -. . - - - - -  $2,292,030,834 2,rnl,486.343 2,147,818,713 2.143.088,241 2,128,688,726 2,0~9,439,341 2,060,lf>S,223 2.035, 786,831 2,027,207,265 1.942,172,295 1,840,598,811 1,688,!ll4.4ti0 1.551,09 , ,207 l,450,0!'l0,235 1.485,i.H,l!'i  1872 .. 1873 . . 1874 . . 1875 .. 1876 . . 1877 .. 1878 .. 1879. 1880 . . 1881 . . 1882 _ 1883. 1884.  1885 ..  1885.  The following is the official statement of the public debt as it appears from the books and .Treasurer's returns at the close of business on the last .day of December, 1885, according to the new form adopted April 1, 1885. RECAPITULATION.  INTEREST-BEARING DEBT. Cha-racter of  Iaaue. Ss ...... Option. ~s ..... .• 1891. 4s . ••.•.... 1007. ts refdg.certfs. Ss, pension .. Pacltlo RRs •..  Inter't  Amount Outstand.iWJ.  P'11'ble -R-egt-st-er-ed-.--0-ou,p_o_n_._ _ 1b_t_a_l._ $ Q.-F. 194.UJ0,500 Q.-M. 199,698,250 Q.-J. 605,488,550 Q.-J. .•.•... .. . .... J.&J. .............. J.&J. *64.623,512  Aggregate..  $  $  ........ ... 50,801,750 132,804,700 ........ .... .... ........ .... . . ....  194,190,500 250,000,000 787,743.250 221,400 14,000,000 •64,623,512  Int. Due Accrued &Unpaid. Interest.  1  $ $ 16,516 970,952 563.458 937,500 955,547 7,377,432 57,564 2,214 210,000 210,006 18.450 1,031'!,705  ,----~----- - - - - - - - - - - -  • ... l,083,950,bl2 182,606.450 1.260,778,662 1,821,535 11,436.804  .!,862,000 mature Jan. 16, 1895; $640.000 Nov.1.1895; $3,680,000 Jan. 1, 1896 i U,320,000 Feb.1, 1896; $9,712,000 Ja.n.1, 189i; $29,904,952 Ja.n.1, 1898; $14,004,560 Ja.n.1, 1899.  ·  I  Interest due and unpaid thereon. $202,213. Tllis debt consists of a number of small ttems, of which the principal amounts are ca.lied bonds, t.he largest sin. gle item being $980,850 called 3 per cents of the loan of July, 1882.  Total.  I  Total debt................. DEBT ON WHICH INTEREST HAS CEASED SINClll MATURITY. Aggregate of debt on which interest has ceased since maturity is $3,447,475·;  Interest.  Principal.  Interest-bearln!l' debtg • 4~s . . ...... .. . ............... 250,000,000 4s .............................. 1737,743,250 Ss ..................... . ........ 194,100.500 Refunding certificates, 49.. 221,400 No.vy Pension fund, Ss.. 14,000,000 Pacific RR. bonds, 6 p. ct. . . 64,623,512-1,260.778,662 18,258,840 1,274,087,002 Debt on which int. has ceased 8,447,475 20~,213 8,649,688 Debt bearing no tnterestLega.1 tender notes, &c ..... . 846,788,806 Certificates of deposit....... 13,790,000 Gold certificates .•••....•••. 105,359,601 Silver certificates........... 98,179.465 Fractional currency. ....... 6,959,154- 006,027,026 566,027,026 l,SB0,253,16S 18,460,553 1,848,713,715  Less ca.sh items available for reduction ot the debt •.•. $221},240,017 01_7 Less reserve held for redemption of U · 8 • notes.······· lOO,OOO,OOO '829,24_0 ,_ Total debt, less available cash items.······· · • • · · • •· · • • • • • · · · • •· · · · l,5l 4 ,4 i 8 ,6W Net cash in the Treasury . . . • . .. . . .•. . .• . . . . . .• . . . • .. . ••. . . • . •• • . . . . . . . . 71,018.872  1 1888 443 464 827 Debt, less ca.sh in th e Treasury• Jan. • · · · • · · • • · • • · · • · • · · · • · · · · · l. • , Debt, less cash in the Treasury, Dec. 1, 1885 ......................... 1,452,544,766 Decrea11e of debt durin!l' the month .............................. ..  DEBT BEARING NO INTEREST.  9,089.940  CASH IN TREASURY.  .Amount. Old demand notes . .............••.......•... . ...... . ..... Legal-tender notes .............•..... . ... . . ........... Certificates of deposit ....•..• . .......•...•............ Less a.mount held In Treasurer's ca.sh ......••... Gold certificates. •• • . . .. . • • • . . • .. . . .. . . • . ............... . Less amount held in Treasurer's cash ..•••...... Silver certificates . • .. . . • • . . . . . . • . . .. . . . • . . • • . . ... . Less amount held in Treasurei-s cash .......... . Fractional currency.... . .••..•.... •...... . . . ......... Less amount estimated as lost or destroyed •... Aggregate of debt bearing no interest . . . ..... .   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  $57,700 846,681.016  .Amount.  Available for reduction of the debt-  8i:~8:~gg  1 14,055.000 iY~~f~~1J'%:~f~e~6~~~if!~:ie~uJ~\:ri~~fn~·::::::: ' United i-tates Notes lteld for certificates of deposit 13,790,000 21.15.000- 18,790,000 16,908,028 Ca.all held for matured debt........................ . . . 139,710,080 Fractional currency............................ • . • . . . . 2,922- $229,240.016 84.850.479- 105,359,601 Reserve fund for redemption U.S. notes ........ . .... , 100,000,000 Unavailable for reduction of debt-Frac. silver coin.. 27,796.481 124,84:J,776 Minor coin........ 526,845- 28,323,276 31.164,311- 98,179,465 Certiflca.tea held as ca.sh-~~ft .~~~.~~.r~.:: :::::.: : .: :: 15.385.088 ........... . . !:11,164,311- 65,779,790 8,875,9346,959,lM Ca.sh on hand . . . • . . . . . . . • .Silver........ . . . . . . . . . . . . . • . . . . . . . . . • . . • . . . . . . . . . . . . . . . . . . ~~,872 $5ti6,027,026 Tota.I cash in treasury. . . . .. .. .. .. . .. ... . . .......... .. . . . .. . .. . . . . 1494,861,954  :I S4,~i&:~~g  UNJTEIJ STATES SECURITIES. PRICES OF UNITED STATES BONDS. In the following tables :are shown the monthly highest .and. l owest pri:ces of United States Government Securities for the twenty-four years from 1860 to 1885 in.elusive. At the begining of this period,, which was just before the war of the rebellion, the total debt of the Government was merely nominal, and the five per cents due in 1874, aad having then about fourteen years to run, fluctuated in the year 1860 from 99¾ in January to 104½ in June (before interest paywent), and to 89 in December, when the political excitement was at fever heat. Then followed the war period till .April, 1865.; thence the period of speculation till September, 1873; thence the period  of recuperation, till the resumption of specie payments on January 1, 18'79, and the subsequent funding of the maturing bonds into new bonds at 4½, 4, 3½, and finally, in 1882, into 3 per cent bonds payable at the option of the Government. The range in prices of Government bonds daring all those years is in some measure a key to the :financial history of the country. In December, 1883, the 4s of 1907 sold at 125¼, ex interes\ the highest point ever reached. In 1884 the highest price was 124½ in March, and the lowest 118½ in May, June and July. In 1885 the highest price was 124¾, in December., and the lowest 121%, in April.  1860. J.ANUAR1· FEBR'RY.  MAY.  APRIL,  MARCH.  JUJ'\E.  JULY.  AUGUST  SEPT'BER. 0CTOBElt. NOV'.BER. DEO'BER.  - - - - - -- ~ - - - - - - Low.IDgb Low.High Low.High Low.High Low.High Low.High Ldw.High Low.Hlgh ------- - - - -  SECURITIE~ ~  1013 -107.¼ 106½-107¼ 108 -108¼ 108¾--109½ 108 -108 -99¼-100 99¼-lOO½ 100½-102¼ 102 -102¾ 102%-103  U.S. 6s of 1868, coup .. .. 106½-107  u. s. :is of 186:i, COUl) ... .  98 -100  --4  Low.High Low.High Low.Hfah Low.Rig~  -  108 -109 109 -109¼ 108 -10f3½° 107¾-107¾ ...... .... '96 -'96 "92 - 93 100½-100¾ 101 -102 102 -102 102 -102½ 93 - '98 102 -103 102:}~-103¼ 102½-103 -89 - !J5 95 -103  U.S. :isof1874, coup . ... 99,,£-100½ 100¾-100½ lOQ¾-101¾ 103 -103¼i103 -I03¾ 103¾-104½ 101%-102  1861. lJ. S. .. .. . -U.S. 6s of 1881, coup .... . .... lJ. S. :isotl-S6a, coup .... 90¾- 92 flsbfl.8 68, coup .... 98 - 100  '{J. S. :is of1871, coup .... 91 - 93  U.S. :i-1Jofl.874, coup .... il2 - 97  94 - 100 :OS¼- 93¼ 86 - 91 87½- 91 -85 - 93½  91 - 94 Bil - 92  84½91 .... . ... 85 75 85 - 90  -  -ss  £6 - .95  05 - 95½ 115 - 05  94  849491¾ 85 78 85 89½ 75¼-  - 90 83 - 85 85½- 86¾ 75¼'- 79 75 - 78)(  89 86 80 7-9  87 - 90 87½- 90 88 85¼- 90¾ 87¼- 89¾ 89¼86 86 - 89 85 - 87 . ... 70½77½- 80 79¼76 - 82 78¼- 81  .... -  90  91¾ 87¾ 81 81  90 91¼87¼81½81¼-  {l0 95¾ 89 85 &S  f2 - 1)2 ·9 3½- 95¼ 87½- 89 82¼- -86 83 - 86  97 - ·93 89 - 93¼ 86½- 88½ 8~- 83  79  - 83  1862. U. !;,. 6s of 1868, coup .... 85 - 90  90 - 92  92½- 95 92¾-- 94¾ 90 90¼- 98 80 88 - 88 85 85 - 88 . . .. 97 - 9; 99¾ 99,,£-100  'U. S. 6sof1881, coup .... 87½- 01¾ 88½- 93  u. s. 5sof186a, coup .... u. s. ~sof1871. COUl) . ...  85 - 86½ 86¾79½- 80 70 S. 5Mof1874, coup . .. . 78 - 80¾ '78½-  lJ. lJ. S. Os, certificates.- .... ...... - ....... .. ... lJ. S. 7 3-10notes ... -. ... 07¼- 08 -98 -  lOS½-11  91 - 97 9'7¾-102 92½- 98 97¾-105½ 105½-107¼ 93 - 99 92 - 92½ 93½- 97 . 93 - 96 96½- 97 89)4- 96 95¼- ·9 7½ 86¾-90 96¾- 90 99 -100¼ 100¼-100 104½106¼ 00¼-101½ 102¼-105¾  1  96¼- ll9½ '96¼-iOO 108 -108¼ 98}-s-101¾ 99 -102½ 102 -104¾ 06 - 97 - ·90 · 1 .89. -w 86¼- 86¾ 114 88¾- ll1 92½- 93 85 - 91 -SS - '91% ·91 - 94 85 - 01 98 - 99 98¼- 997,11 98¼- 99~ 98½- 99¾ 00 -10'5)4 102).fr-105½ ·102Jl{-104¾ 103 -103  00¼-100 96½-103 1JO - 92  I  101¼-102 102 -102 103 -104½ 102~-104~ g5 - 95 9? - 97 91¾- 92~ 1ll¼- '93 91½- 92¼ 97½- 99¾ 94¾- 97JI{ 103¼-105¾ 100½- 104),(  1863. l'J. 8. 6s of 1881, coup .... ll. S. :is of i86:i, coup ...  lll¾- ll9  r1l3:)t-102¼j100)(-105½ l"'4-l06TO?Jt-l""" """'-110  . . • . ~ . . . 00 - 99  lT. S. :is of i87 4, coup .. . 86 l'J. s. &, a-oldcerti6cares "94¾-  90 85¼- 97½ ·0 7¾ 93¼- 09  U.S. 6s, current certs ... . . . . - . . . . .. . . - . . . . lJ. S. 7 3-10s, A. & O .. .. 100 -108 '.I.Ol¾-105½ lJ. S. 7 3-iOs, :J;'. & A., .. 102~1.H0'3 102¼-104:Y.  ·104 -107 11-101,_ J.J6 -107 1◊6¾-110¾ 108-'4- llO~t 106 -108½ 104½-105 105 -105 .... - .... 117 -125 ·98¾-lOO 07 -100 96½-101 97 - 97 93¾;-100¼ lUO -100 100¾;-101¾ 08½-101¼ 100 -lOJX 101 -101¾ 101¼-102½ 98 -102)4 07 _ .... ,,,,,_ """ . ."_ ' " ' 99~- 99¾ 99 - 09½ 98¼- '99 106 -107½ 103½-107¼ 105 -107 105¾-107¾ 106¼-107¾(°5½-108¾ 105¾-107¾ 106¾-109 107 -107½ 105½-107¼ 105¼-10'7¼ 105 -106½ 106 - 108 106 -107¼  99¼- 99% . . . . - .... 04 - 98¼ 95¼- OB¼ '98)4-100¼ 09¼-102 96)4--100½ 104¾;..J.07¼ 104½-106 102%~107 104 -107  - ........  104 -106 1l7 ~ -08 101 -102  .. _""'I.. _,.,,.  108½-110 1,24 - 127 ~8 -100¼ 101¾-102.14 98 - 98¼ 106~-106~ 1-06¼-10~  1864. 'U. s. 6s of 1881) COUl) .. . U.S. :i-20s, coupon ..... , lJ. S. 10-40s,-coupon ..... U.S. 7 3•10s, A. & O .• .. V. 8. 1 year certifi·cates.  113 -115 \111 -114 102 -106¼ 104¾-109¾ 106½-109 105½-107)4 101 -106~ 101½-109 106½-118 105 -111:k; .... - .... • • •• - • ••• 1• ••• - •••••••• - •••• 103 -103}{ 1)5 - {)9 106¾-10~ 107¾-111 109½-112 1103 -110 102)4- 107½ 107 -112 107 -112 97¾- 98¼ 07¼- 991/. 99¼- W7~ 97~- 9ll¼ 98¼- 98½ 92¾- 1)3¾ 93 - 96¼ 93¾- 95)4 93 - 95 104 -107 106¾-lll¼ lll¾-113¼ :113 -118 101¼-104¼ 108¾-107 107 -110¼ 100 -114  iii  :,.,:3··1;;,;;,,:,,:.; .  l04¼-l06t06¼-llS 112¾--118 106½-108¼ 100½-107¼ 106¼-110 92½- 96½ 94 - 99¼ 08½-102,i 104 -108¾ 107 -124 116½-12~ 96 - 97'7_,i '94½- '.95¼1 95 - 98 j  --------  U. s. 6s of 1881-, conp ... 109¼-112¾ 100½~111½ 103)Hll~1<ll5 -110,- 108¼-110¾ 108¾-110¼ 106½-1089,{ 106 -107¼ 107.14-108¼ 106¾-108M 10.,,._10~ 105).-1""' 99!4-103 100 - 105¼ lJ. S. 5-20s, coupen ...... 106¾-110 108¼- 112 104¾_-111¾_ 105%--109¼ 102)4-107 102 -104¼ 103¼-106 105¾-100¾ 105%-108¼ 101:)4-105)4 lJ. S. 5•20s, new, coup .. 106½-110 108 -111 100¾-110¾ 105)4-109)4 102½-lOtl 103 -104 103¾--105¾ 104 -105 105 -106¾ 101 -103 98¼-101¼ 09 -102¼ 89-,t- 92~· 00¾- 95 'U.S. 10-40s, coup(n'l .. . . . 100½-102¾ 100¼-102% 89¼-102 '1 91½- Q7¾ 94¼- 9i~ 94¾_- 97¾_ 96¾- 98 93 - 98~ 93%- 04½ 92½- 94 96¼- 98}11 98)4- 99¾ 98 - 99~ 97 - '99¼ 95¾- 99 U.S. 7 3•10 notes .. .. .... 114 -119 115 -116½ 114 -114½ . . . . - .... 99½- 99¾ 99½- 99% 99½-100 98½99 97!1:(W¾ 96¼- 07¼ 97½- 98% U.S. 1 yeal.' certificates. 96%- 98 07¼- 98½ 96½- 98¾ 98¾- 99½ 99 - 09½ 99¾- 09% 97¾- 99¼ 97¼- 98¾  (T.  s. 6s of  l881, coup ... l03¾-104¾ l03¾-104½ ll04¼-105¼ 104%-108½!1()7 -109¼ 1011½-11.0'¼ 106.'¼-110 1 109¼-118_¼ 1 110➔.l-lli:l  ... ll¼-118¼ 112  -1141 "~lOIJ¾_-113¼  tJ. S. 5-20s of 1862 ....... 102¾-105 102%-108¾ 103 -104¾11C3)4-106¾ 100%-102¼ 101½-104¾ 104¼-108% 108)4-118¾ 1077A-112¼ 111%-115¼ 107½- 110% 105¼-108¼  u. s. 5-20s of 1864 . ......  U.S. :i-20s ofl88a . ... ... U.S. 10-40s . . , ............. U. s. 7 3-10 notes, 1st, .. U. s. 73-10 notes, 2ct. ... lJ. s. 7 3-10 notes, ·3,l....  101½-102¼ 102 -1-03¾ 101¼-102¾ 101¼-1~ 92%- 93¾ 93¼- 94~ 98¼- 99¾ 99¼- 99¾ 97¾- 99¾ 98¼- 99¾ 97¾- !lO 99 - 99~  1'027,,s-104¼ 103¾_-105'7~ 103 -104¼ 104 -106 90 - 92¾ 91¼- 96½ ·0 0½-100)4100 -102 99)4-100½ 99¼-102 '99 -100¼ 99¼-102  101¾-102¾ 102 -103¾ 103¾-lOG 105½-110 108 -109½ 109¾-lll 105¾- 107¾ 101)4-102¾ 102½-103½ 103½-106,,£1106 -109¾ 107¾-109¾ 109 -lil¾ 105¾- 109¾ 04 - 1)6½ 05-¼- 97¼ 97¼- 99 99 -103¾197¼-100)4 99¼-100¼ 99¼-l-OQ¾ 100½-102% 102 -103)4103 -104½ 104 -107¾ 105½-107½ 106 -107 105 -108¼ 101 -102¾ 102 -103%\103 -104½ 104 -106¾ 105¼-100¾ 105%-106¼ 104 -106¼ 100¾-102¾ 102 -103¾ 103 -HM½ 104 -106¾!105 -106¼ 105½-106¼ 104 -10 1  104)4-107 ll lM¼-10~ 99 -10~ 104 -105¾ 103%-10~ 104 -105'(  186?'. l). S. 6• of 1881, coup ... 1106¼-10""' 007),f-110¼ 108¾-llO)j 108¾-ll "'lllO)j-!12 111%-113¼ 109 -110¾ U. s. i>•20s of '62, coup . 106)4-108 107:),(-111¾ 108%-111 lltl¾-111¼ 107 -109'¼ 109¾-llf.% 110%-H2¼ U.S. :i-20s of '64, coup . 105¼-lOU 105%-108¼ 107!,g-108 107%-109¼ 105¼-106 105¾-107% 107½-1097,,i; U.S. i)•20s, '65, c.,M&N 105 -106¾ 105¾-109)'1, lO'i'½i-108¾ 107¼-109% 105¾-108 106}<£-107¾ 107%-109% 108½-110¼ 106¼- 108¾ 'U. s. ,-20,, '65, c., 104¾-lOO" llJ6¼-107j< 107 -108¾ lJ. S. :i-20s-of'67', conp . . ... , - ····1···· - ........ - •... 99 - 99% 99½-100½ 100½-102¾ U.S. 10-40s, 'Coupon ..... 99¼- 100 99¾-101¾ 97½- 1l8¼ 977,,s- W  a-&.r llOS)<-lll<l,;  ''."":10"'I;':"'~l""'  ll0¾-112¼ 110¾-112¼ lll¾-114% 110¼-116¼ 109 -110~ 108%-110¼ 109½- 111¼ 109¾-lll½ 107:1:{-108½ 107½-109 1077,,s-1087/R 107¾-109 102¾-103¼ 99.¼- W¼  110½-112¾ 111½-113¼ 108),(-109¾ 108%--110¼ 106%-107¾ 106¼-108 99%--101¼  112 - 113¼ 111¾-1127,1( 10?%-108¾ 107 -108¾ 105 -105¾ 104½-106 105¼-106½ 104!1:(-105¼ 107¾-108 107½- 108¾ lO'i½-108 107½-109 lQ0¾-102¾ 100¾-104  IS6S.  u. s. 6s of  110¾-112¾ 110¼-lll'¼ 110¼-113½ us -116 \uu72-l18){ 112¾-115¾1118¼-116).4 113½-114¼1113 -116¾ 11'1.~- 115½ 114¼-115 107'7,,s-111'¼ 110 -1119( 100¼-110¾ 109¼-112!{ 108 -l ll'¼ 111¾-11'3¼ 112¾-114% 112¾-115 112½-115¾ 112¼-115 105%-113¾ 109'¼-lll~ u. s. 5.208 , 1864, coup. 105¼-109% 107¾-109½ J.07¼-108¾ 107%-110:U 106h;-109¾11CJ9%-lll¼ !10 - 111%\108¾-lllr-i 109¼-110¾ 109½-112!!:( 104~-108¾ 106¾-107¾ lJ. S. a-20s, 1865, M&N 106 -110:½i 108;½-110¼ 107:){i-109 1077,,a-111¼ 106%-109%1110 -111¾ 110¾-112¾ 110 -112½ 109¾-111% 109¾-112% 104¾-108¼ 107¼-108¾ U.S. :i-20s, 186i), J&J. 104½-108¼ 106¼-108¼ 106¼-107;4 106%--109 lOS-:ii-111,'¼ 112%-114¾ 108 -109½ 1107¾-109¼1107'7,,s-109¾ 107¾-lll'¼ 106½-110% 109¾-110'1.13 U. 5-20s, 1867, coup. 104%-108¾ 106%-108¾ 106¼-107½ 106¾-109;,,i 109¼-112J,b12¾-ll4¾ 108¼-109% 106).f-109¾1107¾-109¼ 107%-112 107¼- lll;( 109¾-lll~ u. s. 5-20s, 1868, coup . .. .. - .... ... - ....... - ... .... - .. . . . . . 1109¾- 110¼ 108:½i-109¾1107 -109¾ 108¾- 109¼ 108¼-112>,1107%-111 110.,-111~ u.s. 10-40s coupo1, . .... 1017/--104'--i 1()4v_ ,ni;•., 1nn, / _,01 ~~ 1flflV-1'1!'! 1r'l .1nr-;?.. 1fl'-V - 1:i'7a.,. ,Of\¾-JORlU 108 -109¾ 104¾-l05l'6 104¼-10fl.~~ JO~ - 1f\flV 1n,,; - lOG¾  1881, coup ... 108¾-112  1  lJ. S. 5-20s, 1862, coup.  s.  [j   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  34-  UNJTE.D STATES SEOURJTlES..  fils (5-20 years)' Coupon.  s of 1881.  ---  Coup.  Open'g High't Low'st Clo::i'g.  111¼ 112¾ 111 112¼  - -- -- -- - -·- - - - -- - - -  Coup.  Reg.  1'<62.  117¼ 123¾ Il6¾ 123¾  117¼ 12"~¼ 117¼ 12:%  121% 125¼ 121¼  108%  Open'g High't Low'st Clos'g.  117¼ l ~J¼ 17¼ 123¼  118¼ 123¾ 118¼ 123¼  116½ 122¼. 116¼ 122¼  115¾ 122¼ 1115¾ 122¼  1!6¼ 122 11612Z  108 114¾, 107¼ 114~  124¼ 125 121¾ 123¾  124¼ 125 122¾ 123¼  lil>x! 125¼ 122¾  123¼ 124 120¼  123¼  .122½  123% 124¼ 120¾ 122¾  122¾ 12::; a 119;.: 121¾  122¾ 122% 119¾ 121¾  122¼ 122¾ 120¾ 1203,i  116 1163,s 11~ 115¼  123 123 119 119¼  123),(  123},(  123¼ 119 119  123¼_ 119)4 119¼  1227,i 122)4 118½  123¼ 122½ 118)4 11- ..  121¾' 121¾ ~  121½ 121¼ 116¼  117¼  117¾  120¾ 120¾ 117 117  112.!,t 108~ 108~  119  119¼, 119¼ 117 117¾  119%, 120 117  nar~  118¼  118¼ 115?.,  119¾  1177/4 113¾ 115¼ 116¼  116¾  116¼ 116¾  109¾J 109¾; 107¼ 107¾  1862".  R81?.  1864.  1S65.  1865n.  1867.  1868.  111¾ 113% 111¼ 113¾.  109¼ 111½ 109 111:h!  107¾ 109¾ 107¾, 109¼  108¾ 110¾, 107!¾/. 110¾  107 1085/4 106% 108¾  107¾ 109 106% 108¾  107½ 109}<~ 1071,4 109  106 108%, 105:¾;  113¼  108¾ 113¼ 108¾ 118¼  108¼ 112¼ 108¼ 112¼  108¼ 110¼ 1087,{ 110¼  112'7~ 113¾ 112¼ 11S  llS1135,s 112½ 113  112¾ 114 112¾ 113  106¼ 106¼ 105¼ 105¼  Ope:.'g High't Low'st Clos'g.  1127,,11  1127,s 116¾ 1127,s 116¼  1137/4 116½ 113¾ 116½  105 108¼ 105 108¼  Open'g High't Low'gt Clos'g.  120¼ 115¼ 120  116½ 120¼ 115¼ 120  116¼ 120¾ 115¾ 119¾  108¼ 110 107½ 109:Js  Open'g High't Low'st Clos'g.  120 120 119 119¼  120 120¼ 119¼ 119½  120¼ 120¼ 118% 119¾  109½ 109¼ 107¾ 107~  Open'g High't Low'st Clos''!'.  113 111¼ 114¼ · 118¼ 113 111¼ 118½ 114½  104¾ 115¼ 109!4 115¼  110½ 116¼ 110¾ 116¼,  115¼ 116½ 114¼ 115  llS 120 117¾ 118  115¾ 115¼ 118¾ 1137,s  115 118 114¼ 115¼  115 118 115½ 118  118 122 117¾ 121¾  114 117!':{ 113¾ 117¾  115¼ 119¾ 115% 119¼  119 122¼ 118½ 121¼  117%  118¾  123¾ 117¼ 122¾  117¼ 113¼ 117  115-~ 119½ 114¾ 1187,,i  116¼  123¼ 118 122 122¾ 122¾ 121 121½  117¼ 117½ 116½ 117  122¾ 122¾ 121¾ 121¾  117¼ 117% 116¾ 116%  1187,i 119 117¼ 118¾  112¼ 116¾ 112¼ 116¾  Low'st  125¼  Aug, Open'g High't Low'st l Clos'g.  108¾ 118¼  108¾  Sept,  Mar.  Clos'g.  1865 n. l 1867.  - - - ·-  1~ 11'1¼ 115¾ 1115¾  11::i  llf  Oct.  Apr. Open'g High't Low'st Clos'g.  1868'.  July,  Feb,  Q'pen'g Hlgh't  5g, 10-40, Coupoa  1864'.. , 1865.  Jan.  Open'g High't :Low'st Clos·g.  6s (5-20years) Coupon.  6s of 1881.  5s, I0-40, Coupon  115¾ 118¾ 115¾  118¾  116>!!  112¾ 116),.z  112>t  119¾ 120¼ 119 119¼  120 118½ 119¼  120 121 119¼ 119¾  119¼ 119¼ 115¾ 115  119¾ 119¾ 115¼ 115¼  116 116 112¾ 112¾  113¾ 11$¾ 110:){ 111  114 114 111 111¾  119 116¼ 113¼ 113¼  116¼ 116¼ 113¾. 113¼  116¼ 116¼ 113¾ 113¾  108 108 106¼ 107  115% 120¾ 115% 118½  112¼  112¾  110½ 113½ 110½ 112  110¾ 114¼ 110¼ 111¾  113 116¼ 113 115¼  113¼  113 1163,( 113 115  106¾, 110~ 10~ 109'9,  l  Nov.  May. Open'g High't Low'st Clos'g.  118¾  Dec.  June. Open'g High't Low'st CI011'g.  116½ 112¼ 114¼  I 116 111% 111%  116¼ 113¼ 115¼  18?'0. 6s (5-20 years) Coupon.  86, 1881 Coup.  5s,  6s (5-20 years} Coupon.  6s, 1881 Coup.  10-40, 6s,CurCoupon rency.  5s,  10-40, 6s, CurCoupon rency.  - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - --July. Jan, 115¾  Open'g High't Low'st Clos'g.  118¼  115¾ 118¾  1862.  1864.  1865.  1865-n.  1867.  1868.  113¼ 116½ 113½ 115¾,  113 116 113 · 11!:¾  11$¼ 116¼ 112%  111% 114~ 111%, 114¾  111% 114% 111¼ 114¾  111¾ 114% 111¾ 114¾  115¼  100¾ 113¼ 109¼ 112¼  109¼ 111½ 109¼ 111½  Open'g High't Low'st Clos'g.  1868.  112 108¾ 110  111¼ 111¼ 107¾ 108¾  111¼ 111¼ 107¾ 109¼  111¼ 111¼ 108 10~  108% 108¼ 106¾ 107¼_  113¼ 114 110)4. 110¼  110¼ 111;,,; 1097,i lllJ.4  110¼ 111% 108¾ 111¼  108¼ 110¼ 108-~ 110¼  108¾ ll0J~ 108¼ 110¼  109 110½ 109 110  106¼ 110¾ 106¼ 109  11~  111¼ 112 111¼ lll¾  112 112)8 111½ 111¾  110  118¼  113 ll4¾ 112½ 112¼  110¾ 110 11034  110¼ 110¾ 110¼ 110¼  110¼ 110¼ 110¼ 110¾  106 107 105¼, 106:Js  112 112 111 111¼  114¼ 114¼ 113½ 113¾  111% 113 111% 112½  111½ 111¾ 111)4 111¼  112 112¼ 110¾ 111½  110¼ 110½ 110,½1 110¼  110¼  110¾  110¾ 110¼ 110¼  110¼ 110½ 110¼  106¼ 106% 106¾ 106¾  111¼ 111¾ 111 111.  113½ 113¾ 113¼ 113¾.  109¼ 109¼ 107½ 107¾  107¼ 107¼ 107 107  108¼ 108¼ 106¼ 107¼  110¼ 110¼ 109 109¼  110¼ 110¾ 109¼ 109¾  110½ 110½ 109½ 109¾  106¾ 107 106)4 106¾  111 111½ 110¼  113¼ 113¾ 113 113¼  107¾ 108 107)4 108  106¼ 107¾ 106¾ 107~  106% 107¾ 106¾ 107~  109¼ 110¾ 109¼ 110¾  109¼ 110¾ 109¼ 110¾  109¾ 111 109¾ 111  106½ 106¼ 106¾ 106¼  110'7"' 110¼ 109"  1865.  118¾  112¼ 112¼ 108¼ 110¾  112 112 108¼ 109¾  11$¼ 114¾ 113¼ 114¼  110¾ 112¼ 110¼ 112¾  113¾ 114n  115)4 115¼ 112¾  Open'i:c High't Low'st Clos'g.  115% 115¼  115½ 115¾, 114 114¾  115¼ 115¼ 113¾ 113¼  113¼ 113¼  114¼ 114¾ 111% 111%  114 114¼ 112¼ 112¼  114 114¾ 11S 113  114 114 111¼ 111¾  111¾ 111¼ 111¼ 111¼  Open'g High't Low•st Clos'g.  116¼ 116½ 11$¾ 114¼  114¼  113¾ 113¾ 108¾ 109¾  113¼ 113¼ 108¾ 110¾  111¾ 111¾ 107¼ 108¾  112¼  114}:£ 109¼ 110¾  112¾ 112¾ 108¼ 109¾  10~ 1oa;4 104¾ 106¾  111¼ 113¼ 112  Open'g High't Low'st Clos'g.  111¼ 112¾ 111¼ 112  Open'g High't Low'st Clos'g.  112¾ 112¼ 112¼ 112%  Open'g High't Low'st Clos'g_  ll8¼ 118¼  115¼  115¼  112  112>,t 110¾ 111¼  Sept.  Mar. Open'g High't Low'st Clos'g .  112¼ 108 109¼  110¾  113¾  Oct.  Apr. Open'g lligh't Low'st Clos'g.  113¼ 116% 1137/4 116¾  110¾ 115¾ 110¼ 115¾  109)4 114¼ 109¼ 113%  109¾ 114¾ 109¾ 114¼  107%, 113¼ 107¾ 112½  1087.,1i 113¾ 108¼ 112¼  109¼ 113½ 1087/4 113¼  106)4 108¾ 108¾ 108¾  1!6¾ 117% 116 117¾  112)4 112¼ 111¼ 112¾  111¾ 111% 110¾ 111¾  111% 112 110¾ 111¾  113¾ 114¼ 112¾ 1137,i  114¼ 114¾ 113¼ 114  114¼  108¾ 108¾ 107¾ 108½  Nov.  May,  June. Open'g High't Low'st Clos'6r,  1867.  1864.  Aug.  Feb,  Open'g High't Low'st Clos'g.  1865n.  1862.  112½  117¾ 118¼ 117¾ 118 1-6  112½ 111 112  I  111¼ 111¾ 110¾ 1111\f.i  ..... 111¾ ll0ll( 112  115 113¼ 114¼  11()'!,,-g  Dec. 114 114¾ 113 114qr,  113¾ ·-·· 114¼ 114¾ 1127./41 112% 114¼ . ...  108¾ 108};! lO'T->s 10:<I½  113 114¾ 113 1137/4  /;,.)  Open'g High't Low'st Clofl'IZ'.  110  1871. 6s (5-20 years) Coupon.  los. 1881 Coup.  1862.  110¼ 113),,! 110,( 118¼  1013¾ 110½ 108% 110½  1\3)4 114¾ 113  110¾ 112:li 110¾  108¼ 109¼ 1077~ 1097,,s  110½ lll½ 110 111½  Open'g High't Low'st Clos'g.  109~ 111% 109½ 111%  111¼ 113¾ 111¼ 118¾  Open'g High't Low'st Clos'g.  111¾ 111~ 110¼ 111¾  109¼ 109),! 108 108¾  113~ 11~9 113¾  108½ 109)4 1077,i 109,(  108¼ 109)4 108 110  107¼ 108¾ 107 108¾  107¾ 108¼ 107)4 108%  110¼ 111¼ 110 111%  110¼ 112¼ 110 112)4  109 111 109 110¾  109¼ 111¼ 109 110¼  109½ 111¾ 109}s 111¾  111 Ill¼ 110½ 111)4  111)4 111¼ 110¼ 111¼  106¼ 109¾ 106¾ 109¾  aos'it•  113 118)4 112¾ 112¾  118¼ 113  118)4  113½  113)4 114¼ 113¾ 114¼  110 111 110 111  11~ 116:,( 114 116¼  113¾ 114¾ 113¾ 11{½  118¾  114)4  114¼ 113¼ 11~  114% 114¼  116¼ 116)4 114¼  :U4%  111% 111¾ 111½ 111¾  115¼ 116 118¼ 114~  114¾ 114¾ 112 113¼  114¼ 114¼ 112 118½  115 115 112 113¾  111¾ 111¾ 107 109¼_  114¼ 114¼ 110¼ Ill  1111 ' 111,' ' llJ,.1 110¼  111¼ 112¾ 111¼ 111¼  113¾ 114¼ 113 113  113¾ 115 113¾ 114  113¾ 115 113% 114¼  109¼ 110 109¼ 109¼  111~ 118¾ 111¼ 113¼  1:0¼ 111 1J9¾ 100¾  111% 111¼ 110¼ 110¼  118¾ 115 113¼ 115  114¾ 115¼ 114¾ 115¾  114¾ 11!> 1141)~ 116  109¾ 109¾ 109¼ 109%  118¼  113¼  116¼ 119 116 118  114½ 114¾ 113¼ 114¾  114 114¾ 113¼ 114~  114 11479 114 114¼  113¾ 112¼ 113-¾  118¾ 119-}s 118 118¼  114¾ 115¾ 114¾ 115¼  114" 115¾ 114¾ 115¼  114¾ 115¼ 114¾ 115¾  118¾ 118)4 115¼  116¾  115¼ 115% 113¾ 114¾  11~% 115¼ 113¼ 114¾  116,117,( 116½ 117¾  111~ 111:1( 111 111  117¼ High't l 118 Low'st 117¼ Clos'g. 118  111 111 109]4 109¼  112!,(  112)4 113 111¾ 112¾  112¼ 112¾ 111¼ 112¼  112¼ 112¾ 111¾ 112)4  115¾  Open'g High't Low'st Clos'g.  ll2% 112)4 112¼  118¾ 1127,i  111 113¼ 111  116¾ 1177-! 116}4 117¼  112¾ 114 112¼ 113¾  112¼; 114 112¼ 114  112½ 114 112½ 114  111¼ 118 111)4 113  111~ 113 111¾ 113  lllll( 113 111% 113  108'( 109¼ 108½ 109¾  11~ 115~ 115¼ 115¾  Open'g High't Low'st Clos'g.  117¼ 117% 117 117;(  111 111M 110¼ lll½i  111 111¾ 110% Ill~  111 111¾ 110% 111¼  113¼ 114 113 113%  1137-( 114 112¼ lU.  113¾ 114¼ 113 114¼  109¼ 110 109 109¼  115¾ 115¼ 115½ 115¼  Open'g High't Low'11t Clos'g.  117¾ 118¼ 117;( 11~  112  111% 113 111% 113  111¼ 113¼ 111¼ 11S¼  118¼ 114¼ 113¼ 114¾  113¼ 115%  114 115¼ 114 115¼  10~% 110.-~ 109¾ 110¼  115% 115¼ 115)4 115¼  Open'g  112¼  113 113¾ 113  Sept,  (':-  114¼  Oct.  Nov.  June. Open'g High't Low'st  112'7,i  115 115},i 118 114¾  11$¾ 114),,! 11S¼  113½ 114¾ 113½ 113¼  114¾ 116¼ 114¾ 116¼  May. Open'g High't Low'st Clos'g.  115 116¼ 114% 116  11$¾ 115)4 113?! 114)4  114¾  Apr. Open'g High't Low'st Clos'g.  1867.  Aua-.  Mar. Open'g Hlgh't Low'st Clos'g.  1865 n.  5s, 10-40, Os.Cur. Coupon rency.  July.  Feb. Open'g High 't Low'st Clos'g.  6s (5-20 years) Coupon.  6s, 1881 Coup.  1865. 1867. 1862. 1865. 1868 1868. 1864. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -- - -1864.  Jan. Open'g High't Low'st Clos'g.  5s, 10-40, 6s, CurCoupon rency.  ' 1865n.   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  11$¾ 112  11~  Dec.  I  113¼ 115¾  I  115¼113¼ 115~  UNITED STATES SECURITIES.  35  1872.  I  6s, 1881.. 'Els (5-20 years) Coupon. 5s, 10-40s. 6s 1881. Curfund. coup. Rei;. Coup 1862. !864} 1865. 1865n 1867. 1868. Reg. Coup lr'ncy  --- -- ----- - - - - - - - - - - - - - - - - - .Jan.  Open'g 110 114¾ 115 ::..10½ Bigh't 110¼ 114-¼ 115¾ 110¾ Low'st 109½ 114¼ 114½ 109¾ Clos'g. 1.10 l.14~ 115½ llO¾  --  6s (5-W years) Coupon. l0-40s. 5s. , 6s, 1881. 611 1881. Curfund. r'ney I 1862. 1864. 1865. 1865n 1867. 1868. Reg. Coup coup. I Reg. Coup  113¼ 113¼ Jll¾ 112¼  110 Ue:¾ Open'g 110¾ 115¾ High't 109½ 114¾ Low'st 110½ 114% Clos'g.  ----  i  July.  109 110½ 109 1~  110¼ 110¾ 109½ 110½  112¼ 112¾ 110¾ 111¾  111¾ 111¾ 109% 110¾  113 113 111¾ 112¼  Aug.  i  Jjs 115½ 110¾ 108¾ 108¼ 114¼ 115¾ 111¼ 107¾ 114 114¼ 110¼ 108¾ 114 115)4 111¼  110¾ 111¾ 110 111.¼  111¼ 111% 110¾ 111¾,  110½ 110¾ 110 110¼  112 112 111¼ 111¼  112¼ 112¾ 111¼ 112  107 107½ 106¾ 107  110½ 110% 109¾ 110¾  114% 114% 113¾ 118¾  Open'g High't Low'st Clos'g.  112¾1116¼ 112% 116¼ 112¼ 114 112¼ 114¼  118¼ 118¼ 116¼ 116½  116¼ 118¾ 114¼ 114¾  116½ 116½ 114 114  116% 116% 114¾ 114¾  115¾ 115½ 113¼ 118¼  116¼ 115¾ 109½ 113% 116¼ 115¾ 109¾ 118¾ 113¾ 113¼ 108¼ 111½ 118¾ 113¾ 108¾ 112¼  1 ~ 114¼ lJ.O lU¾ 1.uS* 114½ 110 114¾  115¼ 115}( 115¼ 115¾  111¼ 112¼ 111 112  !11 112% 111 ll2¾  112¼ 112% 112¼ 112¾  110¼ 111¾ 112 111½ 113 118¼ 110¼ 111% 112 111½ 112¾ 113¼  107¾ 108 107¼ 108  107'7.1t 108¾ 107¾ 108¾  114 115½ 114 115¾  Open•~ High't Low'st Clos'g.  111\la 114½ 11!¾1114½ 109¾1118¾ 110%) 114¼  116¼ 116!4 114% 115½  114 114¾ 113 114¼  114¾ 114¼ 118},4 114¼  113¾ 114¾ 113½ 114¾  118¼ 113¾ 112 113½  L14 114 114¼ 114 112)41112¾ 113% 113¾  1007,'8 112½ 1097.,4 11?.¾  115 117 114¾ 117  115% 118¼ 115¼ 118¼  112¾ 115¾ 112\1,s 115¾  112½ 115¾ 112,½ 115¾  113 116½ l12ij.j: 116¾  Ill½ 114¾ 111.½ 114¾  118 115% 1127/4 115%  118¼ 116 113 115¾  108 110¾ lOB 110¾  108¾ 110¼ 108¼ 110¾  115½ Open'g 111 114¼ 115¾ 116¾ High't 111¾ 115¼ 117 115¼ Low'st 111 114¼ 115% 116¼ Clos'g. 111¼ 115 116¼  115¼ 116¼ 115¼ 115¾  114¾ 116 114¾ 115¾  115¾ 110.}f; 115¾ 116¼  113!)( 115 113¾ 114¾  113¼ 115¼ 113% 114%  111¼ 113 111¼ 112¼  116¼ 117¼ 116¼ 117¼  118  112¼ 119¾ 114 118 112¼ 119¼ 113¼  112¼ 113¼ 112¼ 113¼  11231 115 112% 115  114¾ 116¼ 114¾ 116¼  115% 117¾ 115½ 117)4  115¼ 117¼ 115¾ 117  110½ 111¾ 110 111¼  110¾ 112¾ 110¾ 112  116¾ Open'g 110 117¾ 1 High't 110½ 116¼ Low'st 110 117¾ Clos'g. 110¼  112 113 111½ 113  111¾ 113¾ Ill¾ 113)4  112¾ 118¼ 112¼ 118¼  114 115¾ 114 115½  114½ 114¼ 108 108¼ 114M 116¼ 115¾ 108¼ 108½ 1!4½ 114)4 114¼ 107¾ 107¾ 113)4 116¼ 115½ 108¼ 10831; 114½  Open'g 113 High't 113¾ Low'.st 112¾ <Jlos'g. 11~  114% 115 114½ !1.14¾  120¾ 120¾ 119¾ 120¾  115½ 115 116 114 114¾ 114¾; 114%  ll6¼ 117½ 116)4 117¼  1177.-11 118.½ 117¾ 118¼  Open'g 117¾ 111¼ 112¼ 115 High't 117¾ 111¾ 112% 115 117¼ 110¾ 111½ 114¾ Low'st Clos'g . 117¾ 111½ 112½ 114%  Feb. ' Open'g Illgh't Low'st Clos'g.  May. Open'g Hlgh't Low'st -Clos'g.  114% 114  I  115 114 114  ~~~~:  111½ 111% 111¾ 111%  112¾ 114% US¼ 115 112¼ 114¾ 118¼ 11~ 0  114),( 114¼ 112~ 1~  108½ 109 107¾ 108  108¼ 108¼ 107¾ 108  11~ 112~ 111~ 112).a  108¼ 1()8¼ 115 108¾ 108¾ 114 1077/4 1 ~ 114¾ 108½ 108¼  111~ 114 Ill  I114  Ill  i 111 111½ 111 .Jll¼  112¾ 114¾ 112¼ 114¾  11:;y 117¼ ll'a% 113 112 118 113¾ · 116¾ 117¼ 112¼ 112¾ 112½1115 118 112)4 118 112:)1 116¾  ""'111"'  116 117½ 115¼ 117½  115y.( 109¾ 116¾ 110 115¾ 100½ 116¼ , 110  109¾ 109¾ 109¼ 109¼  112¼ 113¾ 112 113!,i  I  ~~~f  Reg. Cou~i 1863. 1864. 1865. 1865., ! 1567. 186S. Reg. Coup:::  114¾ 117¼ 114¾ 117¼  114½ 119¼ 114½ 119¼  112¾ 116¾ 112¾ 11:::¾  118¼ 115¼ 113¼ 115  113¾ 116¾ 113% 115¾  112% 115¾ 112¾ 115  113¾ 110}.i: 113% 116¾  118¾ 11.:½ 118% 116½  110¼ 114 -09¾ 114  109¼ 115¼ 109% 115¾  112¾ Open'g 114¾ 116¼ 115½ High't 115% 118~ 112¾ I.ow'st 114¾ 116% 115¼ Ch,.;'g. 115¼ 118¼  113¾ 113_;;,! 113¼ 118¼  116¾ 117¾ 11~ 116¾  118½ 114¼ lJ' _' f 115% u ::;¼ 114¼ 118½ 115¾  114½ 115% 114½ 115%  115¼'. 116¼ 115¼ 116¼  114¼ 114¾ 114¼ 114½  116¾' 116¾ 112)\l 115¼ ll6¼ 116¾ 112½ 1I5¼ 116¼ 1: : ¼ 111~~ 114¼ 116¾ 11~ 111½ 114:)6  115¼ 115.¾{ 114½ 114½  119)4 116½ 120),s 117¼ 119¼ 116½ 119¼ 1 i17}.{  118% 115¼ 113 115  116¾ 118 116¼ 117%  118½ 120¼ 118¼ 120  115¾ 117¼ 115¾ 117¼  !15½ 117:'5 115½ 117¾  116:}s 118¼ 116¾ 118¼  114½ 116¾ 114¾ 116¾  116¾ 118¼ ~16 118¼  116.½ 118 116¼ 117¾  111¼ 112¼ , 10½ 112¼  111 112½ 110% 112½  U~¼ pcn'g 114¼ 115 lligh't 114% 113¾ Low'st 111½ 114¾ Clos'g. 111½  115¼ 117¼ ll(;J 118 11:..)1 116¼ 116 117¼  119¾ 121 .1.lS;a 120½  117¾ 118¾ 11:, 118%  116½ 118¾ 116 118¾  118 120½ 118 120½  115¼ 118 115¼ 117¾  116½ 119¼ 116½ 119%  !.16½ 117¾ 116 117¾  111¼ 112 109½ 111%  112 113% 111 113½  112¼'. '.)pen'g 10814 112 115 High't 109 115.¾ 112¼ Low'st 106¾ 109½ Ii Clos'g. 106¾ 111½  115¼ ll'i}( 116¼ llJ 115¼ 117¼ 116¼ 118¾  tl.20¼ '122¾ 120¼ 122),(  114% 116¾ 114% 116¾  114¾ 116¾ 114¾ 116¾  117½ 118¼ 117¼ 118¼  117½ 119¼ 117½ 119¼  119¾ 121¼ 119¼ 121¼  118 120½ 118 120  112 11'2¼ 111% 112¼  113¾ 114¾ 113¾ 114¾  115¼ Open'g 108 111¾ 112¾ 116)4 High't 109¾ 114% 115½ 115 Low'st 106¼ 110)4 l'~:.1 116¼ Clos'g. 109½ 114½. 115-}s  116½ 118 116 117¼ 119½; 118 116½ 118 116 117~ 119½ 117¾  117¼ 119¼ 117¼ 119  117½ 118¼ 117½ 118¾  113¾ 115¼ 118¾ 114¾  114¾ 115¾ 114¼ 115¾  114% lH¼ 114¼ 114!,(  Auir. Open'g I'"' gh't Low'st Clos'g.  114¾ 114¾ 114)4 114¾  118¼ 11r·4 117% 117½  119.½ 120½ ll9¼ 119.½'.  J17 117½ 117 117  :117½ 117J.s 117 117)4  118¼ 119¾ 118¼ 119  117¾ 117¾ 116!H; 117  118¾ 119½ 118½ 119  119 IHI 118 118  112¼ 118¼ 112¼ 118¾  115½ 116¼ 115½ 116¼  114-~ 114¾ 113½ 1187-"  117 117 112 112  119% 113¾ 119¼ 118¼ 115}. I 118}s 115¼ 113¾  117¼ 117¼ 114¼ 115  118¾ 118):! 110 110  116¼ 1" : 1,s 111¾ 111¾  119¼ 119,4 113¼ 11~¾  118¼ 118yj\ 113 113  114 114 112 112¾  114¾ 114¾ 106 106  118¾ 113% 108¼ 108;,(  113;4 108 115% 109 111½11011½ 112¾ 106¾  108 110 106¼ ~~B½  109 111¼ 107/2 107½  111¾ 118¾ 109¼ 100½  118A! 115y4 110 112)4  114 115 110 112)8  108½ 100;4 103½ 107  107¾ 109.¾ 105 106¾  109 Ill~ 108¼ 1087,1'  106¼ 109)4 105½ 109¼  106¼ ·111 106½ 111  108½ 111 107¾ 111  110 118% 109¼ 113¼  112 1.14¼ 110½ 114¼  112 115 1io 115  107 108~ 105½ 107%  112½ 116 110¼ 113%  111¾ 117¼ 111¾ 114½  111½ 117;4 111¼ 115)4  115¾ 115¼ 119¾ 120 114½ 115),( 119 . 119½  Sept.  Apr.  Oct.  ~~  M~ upen'g ·.ligh't Low'st Clos'g.  116¼ 117¼ 116¼ 11.B¾  112¾ 115¼ 112¼ 115¼  Mar,  Open'g High't Low'st Clos'g.  115 116 114% 116  July,  Feb.  Open'g Hlgh' t Low'st Clos'g.  115¾ 116 115}.s 116  5s, 6s, 1881. 6J (5-20 years) Coupon. 10-40s. 6s 1881 _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 1_ _ _ _ 1 Cur-  Reg. Co~ 1862. 1864. 1865. ~S65n 1867. 1868. Reg. Coup r 'ncy _ _  Jan.  Open'g Iligh't Low'st Clos'g.  115¼ 116¼ 114½ 116  Dec.  -5s, I 6s, 1881. 6s (5-20 yea.rs) <',0upon. 10-40:i. 6s 1881. - - - - - - - - - - - - - - - - - - 1 - - - - - 1 C u r -  Open'g High't Low'st Clos'g.  113¾ 115 113¾ 115  Nov.  .June.  --  115¼ 116¾ 115¼ 116¾  Oct.  Apr. Open'g High't Low·st 'Clos'g.  114¾ 115¾ 114¾ 115¾  Sept.  Mar. Open'g Iligh't Low'st Clos'g.  113½1115½ 117¼ 114¾ 113¾ 116 118¼ 115¾ 113½, 115½ 117 .l14¾ 113:J( 116 118¼ 115¾  106¾ 108 108½ 110:lii  105¼ 108 108.½ 11~  _ lee.  .June. Open'g 115¼ 115¼ High't 115¼ 117 Low'st 114¾ 115½ Clos'g. 114¾ 116½  122¼ 116½ 116¼ 118½ 119  121¾ 120 123¼ 117¼ 117¼ 119¼ 120¼ 121¼ 120¼ 122½ 115% 116¼ 116¾ 119 120)1; 120 122)1; 116~ 117¾ 118 120¼ 121 120X  113 113½ 112¼ 113 ',i  115 115 112¼ 114  113¼ ')pen'g 109¼ 111¼ 114½ Hlgh't 113)4 116.½ 113¼ Low'st 109¼ 111¼ 114½ Clos'g. 111¼ 116¾  116¼ 121 116½ 120½  116½ 109' 118).(1112¼ 116½ 109 117¾ 111¼  106½ 108}1  118½ 114¾ 108½ 108~ 118 11~  :  10-40J. ,,. I 6s, 1881. \ 6, (f>.20 yo~,) '1oupou. 63 Cur1881. r'ncy fund. coup. Reg. Coup 1862. 1864. 1865. 1865n 1867. 1868. Reg. Coup  - - ------------------- - - - -  115~ 117¾ 112½ 11~ 112¾ 117¼  118:ki 118¾ 117½ 117¾  110)4 110¼ 109¼ 111,¾  113½ 114½ 118½ 114½  115 11.6¾ 114 116¾  115 116 117¼ 116¾ 115 114½ 117.¾ 116¾  115 118 115 117%  116¼ 118 116 117¾  111¼ 113 111¼ 112¾  118!4 114¼ 113 114¼  111% 114¾ 111¾ 114¾  117¾ 120)4 117¾ 110¼  118½ 121 118½ 120½  115¾ 118¼ 115¾ 117¾  116¾ 120½ 116¾ 119¼  116¾ 121¼ 116¾ 121¼  116)4 119¾ 116}.( 119¼  117¾ 120¼ 117¼ 119¼  117¾ 120)4 117¼ 119¼  110¾ 113¾ 110¾ 113¼  114 115¼ Open'g 112¼ 116¾ llB½ High't 112:ki 114 115¼ Low'st 112 116¾ 116½ Clos'g. 112¾  114½ 115¼ 114¼ 115¾  119¾ 119¾ 117½ !18 119¼ 121 118¼ 120 118½ 119~ 116½ 118 119% 121 1177A 119¼  120¾ 120¾ 119¼ 120¾  118¼ 119½ 118 119¼  119¼ 120¾ 118¼ 120¼  118¼ 120¼ 118;,i 119¼  112½ 115¼ 112¼ 114%  112¼ 115¼ 112¾ 115¼  116½ Open'g 112)! 117½ 118½ 117 lligh't 112h; 117¼ 118¼ 11!5¼ Low'st 112 116½ 117¼ 117 Clos'g. 112¼ 117¾ 118¼  112½ 112¼ 112¼ 112¼  115¼ 115¼ 1111¼ 115¼  115¼ 117 115)8 117  111)~ 121¼ 118 119¼ 120¼ 122 118¼ 120¼ 119.½ 120¼ 117¾ 119¾ 120¼ 122 118¾ 120¾  120¾ 121¾ 120¼ 121¾  119¼ 120¼ 119 120¼  120¼ 120¼ 119¼ 120¼  !.19'¼ 115 120½ 115 119¼ 114~ 120½ 114¾  115 115>,, 114;-i; 115½  117!4 Open'g 112¼ 117)8 us;,) 112¼ 117¼ Hlgh't 112~ 118 118~ 113)4 116¾ Low'st 112)4 117¼ 118 i 112¼ ll6¼ CJ0.3'g. 112¾ 117¼ 118¼ 118¼  115}s 116~ 115~ 116¼  116)1; 1177,11 116¾ 117¼  115).( 116½ 115¾ 110¼  117 117¼ 111 1177/2\ 1177/4 112 117 117)4 ltl lli¾ 117¼ 111¼  115¼ 115½ 115 115¾  119¼ 12J¼ 119)11 120¾  121¾ 115)1; 117¼ 118¼ 119?1! 122 115¾ 117¼ 118,ig 120)4 lla 117 117¼ 119¼ 120 121¼ 1111?g 117)4 118}1; 12)¼  120¾ 120¼ 120¼ 1 20~  120½ 120½ 119½ 120½  115¾ 116)ji llo¾ 117¼ 114¼ 116½ 115¼ 117¼  113 114¼ 113 114¼  114½ 116)5 114¼ 116¾  116¼ 119 116½ 119  117¾ 120 117~ 120  117.¼ 117¼ 116¼ 117  120% 121¾ 119¼ 121  114¾ 116 lU¼ lHI  116¼ 119 120 118}s 121 122 116),( 118¼ 119¼ 118)4 !207,,j J.22  114¼ Open'g 118½ 115)4 High't 113½ 114 I.ow'st 112½; 115¼ Clos'g. 113¼  Aug. 117½ 117:¾; 117)4 117½  117½ 114 lHJ 1114 110~ 111½ 118½1111½ I 1 118¾ 111¾ 118¾ 112~ 118¼ lll¾ 118:hl 11'3½  116½ 117¾ 116¼ 117¼ 116½ 117)4 116¾ llT~ 115¼ 116).! 115½ 116¼ 115:J:{ 117 110¼ 117¾  113)4 118½ 112½ 112¾  118½ 114% 112¼ 114½  115¾ 116 115¼ 116  116½ 117)4 116¼ 1.17).s  110¼ 116¾ 116 116%  117¾ 1177/2\ 117¾ 117¾  114 114  lll!J,4 l17J!i 1171,i 117:i(  Sept.  Oct.  116¼ 116½ 117¼ 1177/4 111  111% 117¾ 111% 117¾ 115¼ 115¼ 116¼ 116¼ 110½ 111¼ 117¼ 116 lli¾ 117½ 11:i¾ 117 117¼ 111  llG¾ 116¼ lli¾ 1177/4 111  I  111% 117¾ 112)8 118¼ lll½ 11 i¾ 112¾ 117½  Nov.  May. Open'g High't Low'st Clos'g.  116 ll'i¾ 115¼ 117¾  117½ 118¼ 116 118¼  117¾ 118¾ 117 118¾  Apr. Open'g High't Low'st Clos'g.  ----  116)4 117¾ 115% 117  Mar. Open'g Hlgh't Low'st Olos'g.  --  111 118¾ 111 118¾  Feb, Open'g ]lgh't Low'st Clos'g.  I  July,  Jan.  Open'g High't J~ow'st Clos'g.  6.; (5-20 years) Cou!}on. 10-40s. 6s, 1881. 6s 5s Cur1881. r'ncy fund. coup. Reg. Cou~i 180l. 1864. 1865. 1865n 1867. 186S. Reg. Coup ----  114% 115¼ 114¼ 115¼  .June. -Open'g 115¾ 116¾ 121¼ High't 115¾ ll7½ 122 Low'st 118 116¼ 121¼ Clos'g. 114 117 122   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  Open'g Iligh't Low'st Clos'g.  Dec • 115¾ 115}8 11831! 114¼  118¼ 119¾ ItB¼ 120¼ 117½ 119¼ 118 120V.  120¾ 114¾ 114!}( 114¾  Open'g High't 113½ 113¼ llt~ Low'at 118'/ 114 u-¼ Clos'g.  121¾ 114¼ 114¼ 1111¾  120 121  111\)s -113 111¼ 113  118 119¼ 118 119)4  11s5s!110J4 119/4 112¼ 118X; 110¼ 119¼ 112¼  11s I 1111.l-s 119¼ 1133',tll&~ 122¼ 1!2)8 115:)g 119¼ 113¼ 118 123 '  112¼ 114¼ 112}.{ 114}ti  117½ 1!2 119)4 11::l}t; 117¾ 111¾ 119:'-.!I 118:¼ 119¼ 120)4'. 119½ 120 '{  118)4 115¼ 1125s 115¼  112¼ 114¼ 111% 114¼  11~ 119 1177,1' 119  114¼ 116~ 115}4 118 118).( llB~ 115¼ 1111  ·-  UlvITEIJ ST.ATES SECURITJES.  36  10-40s,.  6s. (5-20 years) Coupon.  6s, 1881.  5s, 1881. fund.  •. I  Curr'ncy  Reg. CCYUp 1002. ::.864. 1865. 1865n 1867. 1868. Reg. Cou p  --  ----- --- --- -- -- -- -- - - - - -- -C'OUp-.  Jan.  Open'g High't Low'st Clos'g.  1177/41 120 117½ 120  Open'g High't Low'st Clos'g.  121 121 119 120  122¼ 123 120 120½  115¾ 116¼ 115¾ 111:>¼  1187/4 118½ 116 116  122¼ 122¼ 117½ 12()  120½ 120½ 117½! 118¾  122¼ 122¼ 11S 120¾  121½ 121½ 110/ 120  110¼ laJ¼ 116¾ 116¾  122¼ 123 122' 122·  115½ 117¼ 115½ 117¼  1Ul¾ 121 119¾ 120¾  120¾ 122' 120¾ 122  .... ... .. ... ...... .....  115¾ 117 115¼ 117  119¾ 110¾ 118¾ 118¾  118½ 119¾ 118¼ 118¾  120¼ 120:¾( 120 120¼  120¼ 114¾ 117¾ 121½ 115½ 119¾ 120¼ 114¾ -117¾ 120¾ _115½ 119½  122~ 123 122~ 123.  117¾ 117¾ 119)4 119½ 117¾ 117¾ 118¼ 119¼  119¾ 121 110:U 120½  120 121½ 120 121½  118¾ ::.14¼ 116¼ 118¼ 1177,-s 118¾ 118½ 115  114¾ 115¾ 114¾ 114%  119½ 119½ 118¾ 118¼  120 115¾ U7¾ 12U% 116¾ 118 119¾ 115¾ 117¾ 120 116¾ 117½  120)4 120¾ 119½ 119¾  118'h; 119)8 118¾ 118¾  119¾ 119¾ 113¾ 116'¼ 119¾ 120½ 120 1:!.4¾ 117¼ 120 119¾ 119¾ 113¾ 116¼ 111) 119% 111% 114),s 116¼ 111)  114¾ 115½ 114½ 115¼  119 120 1187,-s 119¾  1197,-s 121¾ 119¾ 121¾  '!.17),,j 118¼ 117½ 118¼  119~ 120¾ 119½ 119¾  118¾ 119¾ 118¾ 119¼  119,½ 12'.J½ 119¼ 120¼  114¼ 117½ 114¾ 11~  120 122 120 121%  12'1 118¼ 118½ 123¾ 118¾ 121 121 118¾ 118'/ 4 123¾ 118¾ 121  121¼ 121% 121¾ 121%  119¼ 122¼ 119¼ 122¼  120 123¾ 119½ 123¼  119¾ 122½ 119¾ 122½  114 116¼ 113¾ 116  115½ 117)4 115½ 117¾  Im¼ 124¼ 119¼ 123¾  Open'g 118¼ High't 118¼ Low'st 116% Clos'g. , 117),j;  116 117 115)~ 117  121¾ 122½ 121% 122¾  123>11 124% 123¾ 124;.13  116¾ 1177/4 119½ 117¼ 118¼ 120¼ 116¾ 117'7~ 119¾ 117 118¼ 120¼  121¾ 122¼ 121% 122¼  123 124¾ 123 124¼  123  116 117 115¾ 117  117¼ 118 117 118  123¼ 124;¼. 123¾ 124¾  Open'g High't Low'st Clos'g.  115 119% 115¾ 117½ 119½ 118~ 119½ 119¼ 116½ 116¾ 11~~ 114¼ 116 118¼ 1:!.7¼ 118Ji llS 114¾ l!fi 119% ll5½ 117¾ 119J.2 1.18¾ 119½ 119¾ 116½ 1113¾  lltl¼ 117¾ 116¾ 117½  6s, 1881.  12! 123 124 124 125.½ 124 125  124½ 125½ 124¾ 125¾  6s (5-20 years\ Coupon.  10-40s.  117½ 118½ 117¾ 117¼  118¾ 119½ 118¼ 119)4  5s.  4½s,  122 122)!\ 122 122¼ ,  I  6s  Rel!. Coup 1565. 1865n 1867. 1868. Reg. Coup  coup. reg. r'ncy  123¼ 123½ 122¼ 123  116¼ 117¼ 11514 117¾  121 122½ 120½ 122½  122"",>s 124 122¼ 124  ........  Oi;,en'g High't L ow'st Clos'g.  117¾ 118 116~ 117  119¾ 120 119¼ 119¼  123½ 125 123½ 1237,1i  .....  6s 1881  '  119¾ 122 119¾ 122  1207,11 122¾ 120½ 122¾  117¾ 118  ::.16¾ 117¾ 119¾ 120  116¼ 119¼ 119¼ 118% 117¾ 118 116:¾( ll9¾ 119¾ 118¾  117½ 119¼ 122¾ 123 116¼ 117 119¾ 120 1~77,-s 119¼ 122 123  Opening•. . •. • :22 122¾ 118¼ 119¾ 121¾ 123¼ 116¾ Highest .. ... 123% 123% 118¼ 120 122¾ 123¾ 118¼ 123¼ 116% Lowest ...... 122 122½ 117 19¼ 121 Elosing ... ... 1227Ai 123¾ 117¾ 119¼ 121 123.½i 118¼  122% Opening •... .. Highest ..... 125 122¾ Lowest ...... Closing . .. ... 125  .... .... .... . ....  123¼ 123¾ 11~ 123¾ 123¼ 118¾ 121¾ 122½ 118¼ 121¾ 122¾ 118½  !19¾ 119¾ 1187/4 118½  121½ 121¼ 121¼ 121¼  123¾ 123¾ 123 123  118% 118,a 117¾ 117¾  119¼ 119¼ 118½ 119¼  118¼ 119 118¼ 118¾  .... ... .  121¾ 122 120¾ 121\)s  122¼ 122% 121¾ 122¾  118.½ 118½ 117¾ 118¼  118% 119¾ 118½ 119¾  121 121¼ 120½ 121¾  122¼ 122¾ 122¼ 122¾  117¾ 118¾ 117 118¼  118,¼i lHI 118 119  ~118½ 119 117¾ 118½  .. .. .. .. .. . . ...  126¼ i27 126¼ 127  Opening.. .... Highest, ..... Lowest . ... .. Closing ......  121½ 122¾ 121¾ 122¼  122>11 122¾ 122¾ 122¾  114¾ 115¼ 114½ 115  119 119¾ 118¾ 119¼  121 121¾ 120¾ 121¾  123 123 122¾ 122¼  118 118 117½ 117¾  118% 118¾ 118}fj 118¾  117½ 117½ 117 117¼  .... .. .. ....  126¾ 127J,<~ 126-¾ 127½  Opening ..... Highest ..... Lowest ...... Closing ......  Opening ...... 119 Highest .. . .. 120¾ .Lowest ... ... 119 Closing ...... 12'1  1227/4 124¼ 122½ 124  115¼ 116% 115¾ 116¾  1!9¼ 121 119¼ 121  121¾ 123¼ 121¾ 1227/4  123¾ 124J4 123¾ 124¼  1177Ai 118¼ 117½ 118¼  118½ 118¼ 118¾ 118%  117¼ 117¥, 116¼ 117¾  l'!.7½ 1!8¾ 117¾ 118¾  Mar. Opening •..• •. Highest ...• . Lowest •. .... Closing ......  ..... ... .  At>r.  lllay.  ....  June.  120 120 119¾ 119¾  118¼ 118½ 119½ 120½ 115½ 116½ 123¼ 120¼ IHJ¾ 121¼ 121½ lHl¼ 117¾ 123¼  114½ 116½ 119 120:U , 121½ 116¼ ll7¾ 123¼ 117½ 125~ 114½ 116½ 120¾ 122:t 122¼ 117  ....  ... 114¼ 115¾ 118¾ - 120½ 120¾ 115½ 117¾ 123¼  .. ...  t14¼ , 116¾ 120¾ 122;, 122¼ 117  ....  ......  12;., 122~ 122 122¾  Ui½ 118 123¼ 128 117¾ 118 ll6jf l 121 115 _ 119¾ 121½ 122¼ 116¾ 118 116 1_- 0¾ 123 122½ 117¾ l:!.8  116¾ 120¾ 122¾ 123  ......  ....  ....  , 117½ 125}€-  . .... ....  6s (5-~0 year&) Coupon.  5  10-40s.  41.12!  . ---,-----,,---.,.-- ____ ,' 1s731. lll9t  6 Cu~-  120½ 120¾ IHJ¾ 120¾  116¾ 117¾ 111}¾ 118>~ 115¾ 117¾ 115¼ 117%  ------  119~ 121¾ 118¼ 118% 1177/4  120.½l 121¾ 1181h! 119 . 118¾ 119¾ 121 ur~ 118¾ 117% 119¾ 121¾ 118¾ 1181i, 118¼  126% 126% 125¼ 125¼  119¾' 120~ 116 117½ 119¼ 120¾ 116¼ 117% 117:)( 118 112½ 113 117¾ 18 112¾ 113  119¾ ll!J¼ 116% 116%  125% 126½ 123¼ 126¼  117% 1177/4 117 lli¼  118¼ 128¾ 117½ 118¼  117 117  117¼ 118¼ 115<)8 117¾  11'3 112¾ 113 116 119)4 114 113¾ 116}.f 116¾ 111¾ 111¾ 114¾ 118¾ 113½ 113¼ 116¼  lli¾ 117¾ 116¼ 116½  118 118¼ 117 117  11"¼ 110¼ 109¼ 109¼  113¼ 113¼ 112½ t12½  113¾ 113¼ 112¼ 113%  116¼ 117'¼ 115½ 1: 7¾  109¾ 109>11 108½ 109¾  112¾ 113¾ 111% 118½  125 128 125 127  112¾ 113¼ 112¾ 113¼  113¼ 113¼ 113 113¾  121¾ 121% 121 121¼  115½ 119 116¾ 119:Ml I !5){ 118¾ 116¾ 118¾  117 117¾ 115¾ 115¾ ,  115¾ 115½ 114¾; 114½  116 116 115¾ 115¾  115¾ 115¼ 114% 114¼  111¼ 111¾ 111¼ 111¼  127 127 126~ rn6%  118 118 116½ 116¾  114¾ 114¾ 113 114  115 115% 113½ 115¾  114¾ 115¼ 113½ 114½  110¾ 111½ 110¾ 111½  1~ 1~ 123 124~  lHIY,_ 116¼ 115½ 115½  117 117% 116¼ 11'71,4  114 114¾ 118¾ 113%  115½ 115½ 114¾ 114}.(  118¼ 118¼ 111¾ 111¾  111¾ Ill¾ 110 110  124% 124½ 123~ 124  115¾ 116¾ 114½ 116½  116½ 118 116½ 118  112¾ 118½ 112 113½  113¼ 113¼ 111),,~ 118¼  111¾ 112¾ 110,¼l 112¼  109% 109¾ 108 108¼  12l>f 122)4 120~ 122!4  118½ 118½ 116¾ 118¼ 116¾ 118¾  Oct.  Nov,  Dec.  ....  124¾ Opening ...... 126¾, Highest .... . .... 124¾ Lowest ...... ... . 126¾ Closing •.....  .... 0  117¾ llM  Aug, Opening.... .. Highest ..... Lowest . ..... Closing .. . ... Sept. 127¼ Openi ng ..... 1277~ Highest ..... 126¾ Lowest, . . ... 126¾ Closing .. . .. .  119¾ 121¾ 119% 121¾  llo¾ 123¼  Reg. Coup 1865. 1865n 1867. 1868. Rel!. Coup coup. reg. r'ncy  ..... ......  .... ....  Feb.  116!1:! 128>s 118 124  115¼ 117 115¼ l16¾  119¾ 110¼ 119¼ 120½ 121¼ 116¾ 117¾ 124¼  July.  Opening...... Highest . ...• Lowost ...... Closing ......  117% 117¾ 116½ lHl½  ..... 119¼ 120¼ 119¾ 121 ¼ 121½ 116¾ 117¾ 124¼  ..... 118¾ . .. . 119  - - - - - - - - - - ·----  Jan,  Opening ... .. . Highest .. . . Lowest ..... . Closing . ... ..  ......  121½ 121½ 120¾ 121¾  ~  - - - - 1 - - - - . . . , . . . - - - - - 1 ---,---1 1881. 1891, Cur-  Opening ••.... Highest ..... Lowest . ..•.. Closing .....  ....  Dec.  1!8¾ 121¾ 123¼ 119¼ 122¼ 124¼ 118¾ 121¾ 123¼ 118¼ 122¾ 124  117¼ 120¼ 125¼ US¼ 119 121¼ 126¼ 118¾ 117¼ 120¼ 125¼ 117% 128;,( 118 11&)1; 121  lHl½ 110¾ 116½ . ... 110¾  118¼ 121½ 123¼ 116¼ 120¾ 122 118¾ 121¼ 123¾  Nov.  June. Open'g High't Low'st Clos'!?.  ....... ......  116½ 120!k{ 122  Oct.  lllay. Open'.r High't Low'st Clos'g.  Sept.  Open'g 114½ 115¾ 119,ii High't 113¼ 113;14 118¾ Low'st 114 114½ 119¼ Clos'g.  A.pr'. Open'g High't Low·st Clos'g.  Aug. Open 'g High 't Low' st Clos'g.  113¾ 113¼ 118½  IHI¾ 120,½i lHl¾ 120½  - - - -·  118:k\ 118]/g 1l4¾ 116  118¼ 119¾ 118 119¾  Mar. Open'g High't l~ow'st Clos'g.  ---- ----l~----  July.  113% 116 113~ 115%  Feb. Open'g High't Low'st Clos'g.  tis (5-~0 years) Coupon. l0-40s. 6s, 1881. 6s 5s. Cur1881. r'ncyfund. coup. Re;i:. Coup 1882. 1864. 1865\865n 1867. 1868. Re/.!'. Coup  l!t)77. 6s, I 6s (5-20 years) C:oup-on.  10-40.:.  1881,  coup.  1865. 1865n 1867. 1fl68. Reg. Coup --·-- - -- -  --  - -  it&i,  114¼ 109¾ 110:kl 113~, 114.% 109½ 110½ 114 113~ 108¼ 109¼ 112¾ 113 113½ 108¼ 110  115 113½ 113¾ 112 117½ 114¼ 114½ 112¾ 114¾ 112¼ 112¼ 111 116 113¾ 114¼ 111¾  .... ... .  121% 123¾ ... . 121% .... 123¾  ··· ;  ....  ....  112 11'2½ 111% 112  Aug.  113¾ 113¼ 112 112¾  . ...  1077,-s 108 107 107¾  110¼ 110¼ 109% 109¾  108¾ 108¾ 106¼ 106%  109¾ 109¾ 107¾ 108¾  109¼ 110¾  105¾ 107¾ 109¾ 107 105¼ 108¾ 109¾ 107% .. . 105 106½ 109¼ 106-~ . ... 105¾ 108¾ 109¾ 107¾  .  107¾ 108¼ 107¾ 108¼  ll0!h! 110% 110¼ llO½  . .. . ....  113¾ 114½ 113¾ 113¾  110¼ 111¼ 1011)4 109¾  .... .... ... . .. .. .... ....  123¾ Opening ...... 112¾ 123¾ Highest ..... 112¾ 122½ Lowest ... ... 111¾ 122½ Closing ...... 111¼  111% 113)8 111¾ 112%  107% 10S¼ 107J4 108¾  108 109½ 108 108-)13  111¼ 112% 111¾ 111½  113½ 114x. 118 113½  100¼ 110¾ 110¼ 111½ 109¾ 110¾ 110½ 111¼  109¼ 110¾ 109¼ 110%  .... .... .... ....  122¾ 123¾ 122¾ 123¼  Opening ..... Highest ...... Lowest ...... Closing ... ...  112¾ 114¼ 112],{ 114  108% 111½ 108¾; 111¾  108¾ 110½ 108½ 110¼  111¾ 113 111¾ 112½  118¾ 115¼ llS:¼ 115¼  110¾ 112¾ 11~ 112  Ill½ 113 111.½ 112¾  110¾ 112¾  123¾ . ... 124¾ .... 123¾ .... 124½  Opening .... . . Highest .. .... Lowest ...... Closing ......  114¼ 115¾ 114¼  115½  June. Opening ...... 115 Highest ...... 115¾ 114:)11 Lowest .... Closllli!' .... .. 115   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  .. .. ....  112  ....  .... ....  ll0tt1 111¾ ... . 110¾ .... 110½  113 114¾ 113 113,X  115 116 115 116  .. .. .... .... ....  113 113¼ 112¾ 112½  112,,4 111 107 116½ 112 112 108¾ 116½ 112¾ 113 115½ 111¾ 112½ 110¼ 106¾  110 110 109¼ 109¼  112¼ 113 113 113¼ 112¾ 1127,-s 112¾ 113¼  110½  110% 112 110% 111¾  115 11) 112)8 112-U 112  . ..  108¼ 109 108¾ 108¾  108¾  .... . ... .... . ...  Sept.  .... ....  110¾  .... ....  110¾  Nov, Opening ...... Highest ..... Lowest . .. ... Closing ... ...  .. .. 122¼ .... 122¼  Opening ... . .. Highest .... .. Lowest ...... Closing . .....  . ... ....  111 111 110¾ 11072  Oct.  125¾ 125¾ 121>¼ 125¼  122 122¼  112¾ 118¾ 112 113 113¼ 112 112 112¾ 111 112 113 111 109¾ 109% 108½ 10S¼  110¾ 111¾ 109¼ 109½  ..... .. ..  .... ....  112 112¾ 111½ 111½ 111¾ Ill½ 110% 110%  115¾ 116¼ ll.14½ 114½  ....  106% 109½ 109½ .... 106½ 108¾ .... 10/1% 109¾ 109 109¾ 108¼ 108J.s  112¾ 113½ 111¾ 111~&  .... ....  ....  .... 107  106½ 107 . ... 105% .... 106¼  109¼ 110¾ 108¾ 108¾  May. ·Jpening ••... . digb est ...... £..ow~st .. . ... Closing ... ...  Opening ..... . Highest . .... ·r .owest ..... . Closing ......  108¾ 108½ 107¾ 107¼  Apr. Opening... .. . Highest...... Lowest .. .. .. Closing .. .. ..  .....  113¼ 114½ 111¾ 111¾  Mar. Opening.. .... .Highest ...... Lowest ...... Closing ......  July.  ... . ... .  Feb. Opening ...... Highest ..... Lowest ...... ~losing .. . ...  t~t  ·- - - - - - - -  Jan. ·u pening .•.... Highest ...... Lowest . . ... . Closing ......  6s (5-20 years) Coupon.I 10-40s. 6s, 5s, 4s, 6s 1881, 1881. 1907, Curcoup. coup. coup. reg. r 'ncy 1865. 1865n 1867. l 186S. R eg. !Coup - - - - - -· · - - - -  4s, 6s 5s HJO,, Cur1881, coup. coup. reg. r'ncy  Dec. 110¼ 111 109½ 109½  ....  105¼ 105% 105¾ 105¾  109}.! 110'11 108¾ 108¾  108% 109 108¾ 108¾  105¾ 106 105¾ 105¾  12$¼ 126. 123¼ 125  109 109 1071..,s 1077,-s  105¼ 105½ 104 104¾  125 125~ 123;1,j' 123:lc  108¾ 106:¾( 103  123  108¾ 106¾ 103  1zs,g  107¼ 105 101¾ 120¾ 107),,{ 105¼ 101½ 120~ 107 1077,11 106¾ 107½ ,  105  101¾ 12°"  105¾ 102¾ 120~ 103% 101½ 120~ ](15¼ 102¾ 12<»4  lOl!j<I 105),  10:¾ 108-)s 110 106¾ 109¼ 111½ .... 105~ 108¼ 110 . ... 106¾ 109¼ tll½  107% 108¼ 107:J,,i 108¾  108¼ 108¾ 107 108¼ 106½ 108¼ 106½  102½ 121)4 105% 102¾ 122 105¼ 102¼ 121,i 105% 102¾ 12~  . ...  108% 108¾ 108¾ 106¾  109 107 109 1107¾ 107½ 105¼ 107½, 105¾  105 105)4 103¼ 103\k;  106½ 106%'. . .. 105¾ ... 10~  ....  . .  109¾ 109¾ 108¼ 108½  111½ 111¾ 110 110  102:)11 1203,,. 103¼ 122¾ 101 1120 101½ 120  U.NITE.D STATES SECURITIES. 1878. 6s, 1881 coup  6,  (>-20 y,a,s) Coupon.  1865 n.  1867.  I o,.  1868.  6s, cur4s. 10-40, 5s, 188! Coupon Coup. 4t!iu:1 Coup. rer:.cy.  ------ - - - - - - 106¾  105¼ 106 105¼ 105¼  106~ 109¼ 106}! 108¾  106½ 106¼ 105¾ 1Q5¼  103 103.¾ 102§8 103¾  105¾ 106¼ 105 105¾  108¼ 109 108 108:h;  105¾ 107¼ 105¾ 107¼  103¼ 104¾ 103¼ 104%  105½ 107¼ 105½ 107¼  108¼ 109 108¾ 109  x03¼ 105¾ 103¼ 105¾  103  107¼ 107)4 107¼  104½ 104;1,4 104 104  107¼ 107'~ 107 107  109¾ 110½ 109¾ 110  105½ 106 105¾ 106  104~ 105¾ 104}~ 105¾  103¾ 104¾ 103.¼ 104¾  106% 107¾  109¾ 109¼ 109}4 109¼  105½ 107% 105% 107½  104¼ 105¾ 104¾ 105¾  106½  107~~  105¼  108¾  106¾  107¾ 108¼  105¼ 105¾  108½ 108½  x04¾ 104¾ 103 103¼  103¼ 104¼ 103¼ 103¾  101;}1 102¼ 101¾ 102  103½ 102¾ 103¼  102¼ 102¼ 101¼ 102  x05¾ 106¼ 105¼ 105¼  x108 108¾ 107¾ 108¾  109 109¾ 108¼ 109¼  107¼ 107¾ 106¼ 107¾  104¾ 104% 104% 104¾  ):00¼  100½  1201, 120.H 120 lZO§f ,  107½ 108¼ 107¼ 108¼  102½ 102¾ 102¾ 102¾  105 105½ 104¾ 105¼  108 10:3 108 108  109¼ 109¼  106½  106.¾  :x01% 103 101% 103  101¼ 1 119 119 101¼ 118 100¼ 118 101¼  103½  x06¾ 106¾ 106 106¼  104.¾ 105 104¾ 104¾  100¾ 100% 100% 100¼  12~ 120~ 119:'lti 120}§  108)4 108¼ 107¾ 107¾  102¾ 102¼ 102¾ 102¾  105½ 105½ 105¼ 105¼  1077,11 108 107¼  xOS,¾ 103¾ 103¾ 103%  100¾ 100¼ 100½  lOi¼  106 106¼  106¼ 106)4 105¼ 105%  100¼  llllM 119'7,(: 119¼ llll§s  107¾ 108¼ 107¾ 108¼  103 103¼ 102¼ 102¾  105)4 106¼ 105¼ 106¼  107¾ 108 107¾ 108  106¼ 106¾ 105¾ 106¾  106 106¼ 105¼  103½ 104 102¾ 104  :i:99¼ 100¼ 99¾ 1 ~0  119¼ 120¾ 110¼ 120:Hi  108¼ 109¼ 108)4 109¼  103¾ 103¾ 103¾ 103¾  106¼ 106½ 105¼ 106¼  108½  106½  109.½ 109½ 109¼  lO•i¾  106½ 107!1:1;  x105 106¾ 105 106¾  104 105)4 10-! 105)4  100 100:)jl 100 100¾  122 121)4 122  109¼ 10972 109¼ 109¾  103¾ 103¾ 103\)s 103¼  106¼ 106},' 105¼ 105¼  109¾ 109:),j; 108 10  10i% 108¼ 107¾ 108½.  106¾  x04¼  100¾ 104¾ f 100¼ 101 100¾ 104¾ 100>-a  x119 1~;, 119 11~  f§tt  4s, 1907 r!g8J'; reg.  118½ 119½ 118½ 119¾  lOS¾ 108¼  Sept,  10'1¾  107¼ 108¼ 107¾ 108½  106½  107¾  June. Open'g High't Low'st Clos'g.  x02¾ 102¾ 102}a 102¼  100¾ 100¼  Ana-,  1()4½  103 104¾  Ope 1'g High't Low'st Clos'g.  108¾  110)4 108¾ 110¼  104¾ 105¼ 104¾ 105¼  107¼ 10 % 107¼ 108¾  110 111¼ 110 111¼  x06½ 106½  Oct. 103¼ 103¾  100¾  102¾  100¾ 100½  103¼  100¾  11'7_¾ l HI¼ 117¼ 119¼  Open'g Hlgh't Low'st Clos'g.  119¼ 122 119 122  Open'g High't Low'st Clos'g.  May. Open'g High't Low'st Clos 'g.  1868.  Open'g High't Low'st Clos'g.  Apr. Ope n'g High't Low 'st Clos'g.  1867.  Open'g x07¾ High't 107% Low'st 107 Clos'g. 107½  Mar. Open'g Hlgh 't Low'st Clos'g.  1865 n.  118½ 119½ 118¼ 119½  Feb. Open'g High't Low'st Clos·g.  I  5s. 10-40, 5s, 1881 4½s, '91 4s, 6s, cur Coupon Coup. Coup. Coup. rency.  Jul y ,  102¾ 103¾ 102¾ 102¼  106¾ 107¼  6s (5-20 years) Coupon.  - - --- - - - - - - - - - -- - - - -  Jan.  Open'g High't L ow'st Clos'g.  6s, 1881 Coup.  106¼  Nov. 103¼ 104¼ 103¼ 104¾  100¼  101¾ 100½  101¾  121,t  Dec.  107½ 109¼ 107½ 109¼  105¾ 107 105¾ 107  x03¾ 104¾ 103¾ 104¾  101)4 101½ 101¼ 101¾  xll9 120¼ 110 120¼  Open'g I:Ilgh't Low'st Clos'g.  106}.i  106¼ 106¾  187'9. Coupon Bonds. 6s, 1881  5-20s. 1867.  1868.  -  .Jan.  Opening ........ Highest .... .. .. Lowest ......... Closing ........  100% 106¼ 106¾  x02¾ 102~ 101¾ 102  104¾ 104¾ 102¾ 103¾  108¾ 10 % 104¾ 105  107 107½ 105%  106¾ 106¾ 105% 106¼  102¼ 102¼ 102 102¼  102½ 102¼  105 105¾ 104¾ 104.¾  106¾  i~\.  10-40s. 5s, 1881  ------ -- -- -- --  Coupon Bonds.  las, Cur4s, 1907 rr3Jl,· reg.  ----  6s, 1881  106¼  104% 106¼ 101¾ 106¼  x99¼ 100 99¾ 100  119¼ 121¼ 119¼ 121¼  x04% 104% 104¼ 104¾  106¼ 106¾ 106 106¾  100 100¼ 100  120¼ 1?-2  100¼  122  Highest ... . .. Lowest ... ... . . Closing ....... .  106¾ 106¾ 105¾ 106¾ 106¾ 1~ 105¾ 106¾  May. Opening ........ Highest .. ...... Lowest .. . ... . .. Closing ........  .June. Opening ...... . Highest ....... . Lowest ......... Closing .... . .. .  120½  Opening .... .. Highest ....... J,owest .. ... . . . Closing .. ... . ..  106½  107½ 106½ 107½  1~1 107¾ 107¾ 107¾  102¼  102¼ 102 102)4  .. .. .... ....  ... . ....  ....  ... . .... ....  ....  .. .. ....  x02¼ 102¼ 101¾ 102  1()4¾ 104¾ 103¼ 104¾  x05¼  105)4 104 104¾  100¼ lOD¼ 99¼ 99¼  122 122 121¾ 121¾  Opening . .. .... Highest ....... Lowest ........ Closing .. ....  . ... ....  102 102 101)4 101)4  104¾ 105.½i 104½ 104¾  104% 106¾ 104¼ 106¾  X99 101¾ 99 101~.!  121½ 124¼ 121 ¼ 124½  Opening .. .... Highest ....... Lowest .. ...... Closing ........  .... .... ....  .... .... ....  x03¾ 104 103¼ 103¼  107 107½ lOi 107¾  101% 103½ 101¾ 103¼;  124¼ 1-5¼ 124¼ 125½  Opening ...... Highest ..... Lowest ........ Closing . . . ... . .  102½ 102½ 102¾ 102¾  ... .  . .. .  .. ..  104¾ 104¾ 104¼ 104¾  .... ... .  104¾ 105 104¾ 105  Oct.  ....  .. ..  . ... . ...  .. .. ... . .... . ...  .... ....  105 105¼ 105 105¾  N ov, 105¼ 106¾ 105)4 105%  Dec . 103¾ 103¾ 103% 103¾  x06¼  106½ I 105¾ 106¾  1027,11 10:cl 102½ 102½  x23¼ 123¼ 123 123  Opening ...... Highest ....... Lowest ........ Closing ........  ....  104¼ 104¾ 104%  Sept.  Apr, Opening . ..... . Highest ...... Lowest . .. ...... Closing ....... .  102%  1868.  - - - · - -- - - - - - - - - - --.... 103¾ 106¼ x01% 128 .... .... Opening ..... . X04% Aug.  102½  1867.  6s,Cur-  10-40s. 5s, 1881  .July,  F eb. Opening .... ... Highest ••. . . ... Lowest •••••.. .. Closing .. .... .. ;, Mar, Opening .. ...... Highest ...... .. Lowest ........ Closing .. ......  5-20s.  106¼  107¼ 106¼ 107¼  .. ..  ....  . ... ....  ....  ... . . ... .. .. ... .  ....  ... .  ....  . ...  104¼ 103¾ 104¼  106½ 105¾ 106}4  102¾ 101¾ 102¼  124 122% 123¼  x02¾ 102¾ 101% 102¼  106¼ 106¼ 105 105¾  102 102 100% 101¾  123)4 123¼ 123~ 123~-4  . ...  .... . ... . ...  ....  . . ..  ... ..  .... ....  .... .. .. ... .  ... .  ... .  ~102}4 103 102¼ 103  x04¾ 105¼ 104¾ 105¾  101.½i 102¾ 101¼ 102¾  .... ....  .... .... ... . ....  .... .... .... ....  102¾ 108½ 102¾ 103¾  105¼ 105% 105¼ 105¾  x0l¾ 102¾ 101% 102¼  128 123 123 123  .... ....  ....  .... .... ....  x02¾ 102¾ 102 102½  106¾ 107)4 106¼ 107)4  102)4 103¾ 102¼ 103¾  124½ 125 124 124)4  102¼ 103¾ 102½ I 103¾  xQ5¾  103 104¼ 103 104  x21~ 122 121~ 122  ....  .. ..  ... . .. .. .. ..  ....  ... .  ....  ....  .... ... .  .. ..  ... . ....  ... .  ... .  . ...  .. .. .... ....  ....  . ...  . ...  . .. . I  106¾  105¾ 106¾  ...  ....  1880.  I I  ~~ . cur-  Coupon Bonds  Os, 1881.  rency, 1898 ' reg . 5s, 1881. 4½s, 1891. 4s, 1907.  6s, cur. 18118.  Coupon Bonds. 6s, i881.  5s, 1881. 4½s, 1891. 4s, l007.  reg.  - - - - - - -·- ---1---· - - - - - - - - - -----·11---------·--- - - - - - - - - - - - - - - - --~ .January.  .July .  Opening.,.. ...... . . .. . • .. .. .. .. x 104¾ 104% HiJthest. ... .. .. . . .. .. .. . . ... . . .. 104¼ Lowest .. . . . . . . . . . .. .. . . . . . . . .. . 104% Closing. . . . . . . . . . . . . . . . . . . . . . .. .  103¾ 104 103¾ 104  106:ki 107.¾ 106¾ ]07¾  X  103 104~ 108 104½  Opening ...................... . Highest ....... .. . . ............ . Lowest ...................... . . Closing ..... ... ..... ........... .  February, Opening ............ . .. ........ . HiJthest ............ .... .. ... .. . Lowest ...................... .. . Closing .. . .. ... ...... ....... ... .  X  103 103% 103 103¼  105¾ 107¼ 105 106% X  108  126 126 126 126  Opening ... ... . ... ......... . Highest .......... ..... . . LowPst ............ . ............ . Closing ........................ . Opening.................... .. Highest ......................... . L ow est ..... ... ... ............. . Closing . . ..... . . ... . ...... .... .  108½  107½  lOS½  103¾ 104 108¾ 104  109 109¼ 108% 109  xlOfl¾ 107½ 107½  Opening ............. ......... .. . Highest ...................... . Lowest ... ... ... ..... ... . . ..... . Closing . .... . .... . . ....... . ..... .  107¼  102¼ 103¾  106¾  10i¾  109¼ 110¾ 108~  106¾  l(l.J¼  110¾  107¾ 109 107¼ 109  Opening ........................ . Highest . . . ...... ....... .. .. .. .. Lowest .......... . ............. . Closing' ... .. . . .... . ............ .  109  Opening ...... ..... . .. . . ........ . Highest...... ....... . .. .. . .... . Lowest .............. . . .. ...... . Closing ..... .. .. ............ .. .  106¾  May,  xl08¾ 109¾ 108¼ 109:Hi  104½ 104~ 104¼ 104¾  X  102¾ 102¾ 102¾ 102!1:i  111¾ 111¾ 111¼ 111¾  109% 110¼ 109% 110¼  110¾ 110¾ 109 109  110)4 110~  104¾ 104¾ 104¼  104¼  10P¾  101¾ 104.% 104~ 104¼  108¼ 110¾  108%  102¾ 103 102~ 103  110½  107)4 109¾ 107~ 109¾  102 102 101¾ 101¼  111¼ 112¾ Ill¼ 112  110 112½ 109% 111%  101¼ 101½ lOi. 101½  111-U  111~  112  113~ 111½ .' 131),i  lOR¼  X  November. 106¾  X  .June.  X  December. X   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  109% 110¼ 109!1( 110¼  October.  Opening........ . ...... ....... .. H 11,'hest ....................... . Lowest ............ .... ..... ... . '.)losing ........ . ......... . ...... .  ttl!:::::: ::::::::i:::::::.:1  103¾ 103¾ 103:)jl 108¾  September. 103½ 103½ 103 103)4  105% l05% 105~ 105½  April.  Opening ..... ................... . Highest .................. .... . . l,owest ..... . ... ... ............. . tlosing .. . ......... .. .......... .  104¼ 104¾ 103% 104¼  Aue;ust. 105¼ 105% 105¼ 105¾  Mnrclt, Opening........................ . Highest ......... . ... .. .... . ... . Lowest •... . . . .. ..... . .......... Closing . . . ... .... .. ............ .  X  I  iQO¾ 109¾ 109¾ 109M  1091' 108¾ 109)i  lll~s 112  128 128 128 128  UNITED ST.ATES SECURITIES.  38  1881. Coupon Bonds. 6s, 1881. 5s, 1881. ~s,1891. 4s, 1907,  Coupon Bonds.  6s, curTency, 1898, re)T.  6s, 1881. 5~, 1881. 4¼~.1891. Js, 1007.  ---- ----- - - - - ----  January. Openin,g ........................ xlOl¼ Hil{hest .. .. 101¾ Lowest ... .................... 101¼ Closing .............. .. ... ...... 101¾  February.  Opening ... .............. . . ... .. Highest ............... ...... ... Lowest ... Closing ........... .... .. .......  ················ ····  March.  ... ..... ..... ...  Opening ........ Highest ........ .. ... ... .... Lowest...... ..... ...... ...... ... Closing......... . ...............  April.  Opening ..... ... .......... ...... Highest ................... . .... Lowest .... .. ..•. •• Closing•......  ············ ..................  ....... ························ June.  Opening ..... ... .. . . ... ......... Highest ... . .......... Lowest ....... Closing.  .........  ................. .............. .. .....  •102¾ 102¾ 101¾ 102  11~  102¾ 102~ 101¼ 101¼  102~ 102¼ 101 101¾  114¾ 114¾ 118¾ 118¾  116¼ 116¾ 114'-( 115¾  ......... ..  101¼ 101¼ 100% 101  101½ 101¼ 101 101¼  118 118¾ 112% 118¾  116 117~ 116 117¾  Ope ing ........................ Highest .. ... ........... .. ....... L owest .......................... , ·• Closing ......... . .  100~ lOl½i 100¾ 101  xlOO¼ 102¼ 102¼  118 118 118 118  101;( 101M 101;( 101~  102 102;g 101¼ 102¼  118¾ 114¾ 118¾ 114¾  Opening ........ . . . .. .. ..... .x 100¾ Hi11:hest ... .... ........... .... ... 101¼ 100¾ Lowest ......................... Closing ........................ 101½  102¼ 108¼ 102¾ 108¾  x118¾ 11~ 118¾ 114~~  x112¼ 118¼ 112¾ 112¾  101¾ 101¾ 101¾ 101¾  xlOO¾ 101 100¾ 100¼  112!4 1127/4 111¾ 112¼  112¾ 114 112¾ 112¾  102 102¼ 102 102¼  101 102 1007A 102  111¾ 112¾ 111¼  1127A 114¾ 112¾ 114¾  181 181 181 181  Opening ............ Highest.. . ... ..... . ... . .... .... Lowest ..................... ... losing....... .......  102¾ 108% 102¾ 108¼  102¼ 1027A 102 ::.02¾  112¾ 1 :4¾  114 116¼ 113¼ 116¼  188 188 188 188  108¾ 106½ 108¾ 106¼  x· lOl¾ 105 101¾ 104¼  114¾ 116½ 114¾ 116¼  116¼ 118¼ 116¼ 118¼  185 185 185 185  Opening ...... ··· ·····•• ··• •··· Highest. . ................... Lowest. . ....... .............. ... Closing.. ...... . ..... .. ..........  • 104 104 1027,/4 103  104,( 104¼ 108 108½  xllS!}s 115¾ 114%  118;( 118¾ 117¾ 118  134 134 134 134  May.  Opening ... .......... . ..... ..... Highest ....... ... ...... Lowest. Closing ...... . ..................  102¾ 108 102!,( 102¾  xll':'¼ 117~ 115" 116¾  112 112¾ 112 112¾  X  112¾ 112¾  114¾  llri  X  188 188 l88 188  July.  101¼ 101¼ 101¼ 101¾  ··················  Opening ........................ Highest Lowest .......... . ... .... ....... Closing . ..... .. .. .. ... .. . .... ...  ........................ August,  Opening ..... ..... .... . . .... .... Highest ...... ................... Lowest ......................... Closing .......  X  6s, currency. It-98,rg.  ·· ··············· ...... ....  September.  October.  .........  November.  ~  December.  114¼ 114111 11~  X  X  ---  llt»fl 11/3% 115¼ 116 116¼  117¼ 116 117¼ 11~ 118¾ 11~ 11~  X  190 180 129 129  1882. Coupon Bonds. Registered Bonds. 1 6s, cont'd 5s, cont'd 4¼s,1891. 4.e, 1907, 6s, cur'cy. 8s'-8~~~on at 8 72• atU½. 18118  ----  January. Opening ...... . .... . Highest .... Lowest . . •.. Closing .......... ....  ........ .....  100¼ 101 100¼ 101  ---- ---- ---- - - -  :z:102¼ 102¾ 102¼ 102¾  114¾ 114¼  117¾ 118¼ 117¾ 118¾  114¾ 114%  February. Opening ............ Highest ............ Lowest ... Olo1lng ..............  ······ ···  101 101 100¼ 100%  118  114% 114% 114.¾ 114¾  102¼ 102¼ 101¾ 102  1185-s 1177,/4 118  March. Opening .......... Highest •..........•. Lowest .............. Clo1.1ing•.....•.•.••..  102 103¾ 102 103¾  1~ 101¼ 100¾ 101¼  xl18¾ 118¾ 113¾  118 119¾ 118 119¾  118¾  April. Opening ............ Highest ............. Lowest ... Closing.......  ......  101¾ 101¾ 101¼ 101¾  :z:102½ 103 101¼ !027-(  115¾ 116¼ 115¼ 1:6~  xllS.¼ 121¾ 118--¼ 121  Opening ............ Highest ........... . Lowest ........... .. Closing .............  101¾ 101~ 101¾ 101¾  102¾ 102!,( 101!,( 101}(  116~ 116)4 115¾ 115¼  121 121½ 120¾ 120¼  ........  May.  June. 0-pen~ ............ xlOO Highest ............. 100,( Lowe ■t ............ 100 Clo1ln1r. 100¾  101¼ 101!1,( 101¼ 1019:(  ···········  Register'd Bondi. Coupon Bonds. 6s, cont'd 5s, cont'd 4¼8,1881. -is, 1907. 6s, cur'cy, BstJ'!?3:'n at8½. 1898. at3¼.  120¾ 120¼ 120¼ 120¼  xl14¼ 114)4 114½i 114¼  181 181 l31 181  .... ....  .... .... ....  .... ..  .... .... .... .... ....  .... .... .... ....  ....  .... .... ....  • .... .... .... ....  Au11:u11t  .... ....  .... .... .... .... .... .... .... . ...  ...  .... ... .... ....  .... .... .... .... ....  - - - - - - - ----  .July . Opening ............ Highest ............ Lowest ............. Closing ..... ....... .  ...  Opening ........ Highest ......... ... Lowest ....... . . ... Closing ... .. ..... ...  September. Opening ............ Highest •..... .. ... .. Lowest ........... .. Closing.. ... ... . . ....  October. Opening........... Highest ........... . . Lowest ...... ........ Closing .•........  102 102 101~ 101~  ....  ....  ..  ... ..  .... .... .... .... .... .... . ...  ...  ....  Opening....... . .. .. Highest •............ Lowest ............. . Closing .... ...... ... .  .... . ... . ...  November.  December. Opening ............ Hisrhest ............. Lowest •..........••. Closing .••...••..•...  X  . ...  .... ... .... ....  X  I  :x:119 120¾ ll8¾ 120¾  101 102¼ 100¾ 101¼  114.  101¾ 101~ 101¼ 101¼  114¾ 114¾ 114¾ 114¾  120¼ l~OJ,(  101 101¾ 100¾ 100¾  118 118 112% 112¼  119¼ 120)4 119¼ 111)¾  100}( 100)4 100)4 100},,{  118¾ 113¼ 113 118¼  xllS¾ 119¼ 118~ 119¼  101¾ 101¾ 101¾ 101¾  113 113¼ 113  119½ 118½ 118¾ 119¼  x112¼ 113¼ 112¼ 113½i  120¼ 121 120 120¾  115 114 114¼  I  101½ 108¾ 101¼ 103,(  113  110¾ 119¼  . ... . ...  .... ....  .... ...  ..... ....  ....  .... . .. .  .... .... . ...  ....  ....  ....  .... . .....  ~  ... . ... ....  ....  ~  . ...  .... . ... .... ·· -· .... ....  10~~ 102!4  . ... . ...  102¾ 102~ 101~ 102  .... ... . .... ....  102;, 103 10~ 108  102¾ lOB~  1883. r oupon B""ds.  R egifltered Bonds. Conpon Donrls. 53, cont'd 4¼s,1891. 4s, 1007. 3s, option 6s,cur'oy U.S. 1898. at8¼.  Registered Bond!<.  5satcg½~'d 4½s, 1891. 4s, 1907. 3s,-c?.p~~on 6sl~~rcy  ------------,---- - - - ----- - - - - - - - January. Opening ................... .. Highest .................. . . . . . . Lowest ................. . . Closing ........ .. ..... .... .... ..  X  118¼ 113¾ 112¾ 113  xl19½ 119¾ 118% 118¼  103¼ 103% 103% 108%  118},,{ 118% 118¾ 113%  118% 120 118¾ 119¾  xll2½ 113¾ 112¼  118¾ 120¼ 119 120¼  JO-! 104¼ 103¼  Opening ....................... . Highest .......... . .... . ..... .. . Lowest ................... . Closing . . ...•••...........•.•...  X 11{)%  xl0!3½ 108¾ 108 103  Opening ........ ........ ........ . Highest ................ . Lowest ........................ . Closing ........................ .  xl08},,{ 104½ LOS¼  104½  Feb1·uary. Opening : . ..... .. . .. . .. ........ . Highest ....... .. ............ . Lowest ...... .. . .... ......... . Closing .......... .. ............ ..  :x:118% 119¼ 118¼ 119  103¾ 103~ 103 108  118¾ 112¾ 113¾  119¼ 119¾ 118h 119¾  108 108¾ 108 108¾  112½ 114 112¼ 114  119¾ 121)4 ll!l¾ 121¼  103¾ 108¾ 101½ 101¾  183 185 132¾ 185  114¼ 114¼ 11394: ll4ll(  xl20¼ 122 120 122  xlOO½ 100½ 100¼ xlOO½  185¾ 136½ 185~  114¾ 115 114½ 115  121¼ 122¾ 121¾ 122¾  100¾ 100¾ 10(1_1-:{  186½ 136¼ 136  100¾  186  114 114')'.p . 113¼ 114¼  128 125¼ 123 !24%  100-~ 102 100¾ 102  x134 · 1s~ 134 134.¼i  112¾ 113 112¾ 1:2¼  us  September.  118%  lOB;s  October.  Opening . ....... .. .... .. .. . .Ilighest . ....... .. ............ . Lowest ............... ......... . Closing ..................... . . . .  118½ 118~~· 113¼ 118¼  120  119¾ 1197/4  Ma:,r.  186¾  November.  Opening ... . ................. . Highest ....... . . .... ......... . Lowest ....... .......... .. Closing ....................... .  118 113¾ 113 118~  119% 119¼ 119 119¾  108¾ 108¾ 108¼ 108¼  June.   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  ---- - - - - - - ---  "pening ................. .. Highest .... ........ . Lowest .. . . . . ................ . Closing....... ........ .. ..... . .  August.  April.  Opening . ...... . ........... ... . Highest . ......... ...... .. ..... . . Lowest . ......... .............. . CloslnJ;t........ .. .............. ..  131½ 181½ l31½ 181¼  Opening ...... ........ . ....... . Highest ..... ... . .............. . L owest ........... ... ...... ... . . ()losing ................... . ... .  Ma1·ch. Opening ........ .. Ilighest . ...... ... ........ .... . Lowest ...................... . . . Clo1c11ng...... . . ........... ...... .  July.  102 104 102 104  Opening .. . ............. . ..... . Highest ........................ . Lowest ... . ..................... . Closing..................... .  December. X  112¾ 113 112¾ 112¼  119¾ 120 119% 120  108¼ 104 108¼ 108¾  Opening . . .............. . .. .. Hi11:hest .... .... .......... ... . .. . Lowest ......................... . Closing .••••.•.•...••.....•.•...  X  UN11EJJ f)TATES SEOURITJES. ISS.f. Coupon Bonds.  Registered Bonds.  Coupon Bonds.  Registered Bonds.  4¼s, 1891 4s, 1907. 3s,g~~~on 6  ----------------January.  ts3f  ----11,------------·--,.- - ---- ---- ---- - ---  Opening .... .•. ... . . .......• Highest .... ... . ...• .. ... . ••. . ... . . . ..... . Lowest .. .. . ...... . . .. . ......... . ... . .. ... . Closing . .... ... . . . ... . ... ...... . ...•...  February.  Opening ..... . ...... . .... . ...•............ .. Highest . .. . ............. . . . . ..... . Lowest .. .. . . .. . . . . . ....... . .............. . Closing ........... .. .... . .. . .. . ..... •... . . .  114% 114% 114¼ 114¾  x128~ 124),4 128),4 128¾  114¾ 114¾ 114¾ 114~  128¾ 123¼ 128¾ 128¼  March.  Opening..... .... . . ... . . . ....•..•...•... x118¼ Highest . . . . . ... .. . .........•• . .... . ..... . . 113"Y!i 118),4 Lowest ..... . ............... . ............. . Closing •. . .•. . . . .. . .... . .........••...•.•• • . 118¼  April.  Opening .•.•........ . .• . .•.. . .... . ••.. Highest .................. . ............. . Lowest •........... •.......... . ............. Closing ...... •.. . .... . .. . ........ . ..• . ..•.••  1187,-s 1187/4 118 113¾  May  Opening .... . ... . ........•...... .. ........ Highest ..... ... • ........... .. .. .. .. . .... . Lowest ... . .. •........ •. •. Closing ....... . ..... . ..................... •.  100¼ 100¼ 100¼  184¾ 184¾ 18!¾ 184¾  Opening ... . .............. . .............. . Highest.... . . .... .. . . ............. . .. . Lowest... . . . ..... . ... ...... . ..... .... . . . Closing....... ... ... . ... .. ...... .. .. . . .  101 101 101 101  185¼ 185¼ 135,M 185¼  Opening... . ........ . ............ •.. . Highest ........... ... ....... .. .. . ..... . . . . . Lowest . .. .. ............. . . . . . ..... . ... .. . Closing .... . ........... . . .. ............... .  LOO¼  1~/4 124¼ 128¾ 124¾  101 101 101 101 .  xl28¾ 124 1237,( 128½  IC101~ 1-01¾ 100¾ 100¾  118¾ 118% 110 112¾  June.  Opening •••••.•. •..... . .. •. . ..... . ....•..• xlll¾ Highest •... •...•••...• .....•..•.•..•.••••.. 111¾ Lowest . .....•....................•.....••• . 110¾ Closing•.••.••••.••.•.••••.•••••. 110¾  July.  112  112% 112 1:2¾  August.  November.  120¾ 120¾  100),g 100¾ 100¼ 100¾  119911  Opening .. . ......... . . ...... .... . ......... . xlll¼ Highest •..... . ... . .... . ...... .. ........... 111¼ 112¾ Lowest ........ . ... . ........... . ..... . ... . Closing . . ... ... .... .. ........ .. ........ . 112¾  October.  100 100)4 100 100¼  120¾  September.  Openinf1;•.•.• . . . ........ . ....•.......... •. .. Highest ..........•........•...... . . Lowest ......... . ............. . ........... . Closing .... .. ... . . . ....................... .  xllS¾ 120¾ 118¾ 120¾  112¾  118¼ 11 2¾  120¾  101 101 100),4 l00J.4  x120¼ 121%  119¾  118¼  1213t  128¼ 123¼ 118¼120%  100 100¾ 100 100¾  Opening .............. . ....... . ........ .. Highest . .. . . .. . . . ...........•.. •• •....•..... Lowest •. ............. ... . ... .....•. . ..• . ... . Closing.. . .......... ... .. . .. ............ .  ll8% 114¾ 1187,-s 114¼  121!1:( 122¾ 121¾ 122¾  120!1!t 120¾ 118¼ 119¾  100¾ 100¾ 100 100  Opening . . . ....... . .. .. .. .. ........ . .. ... . x118¾ 1187,-s Highest ............•...........•... . •..... . 112¾ Lowest . .. .. .... ........ . .......... . ..... . . . 118¼ Closing ....•.•...... . . . . ........••..••••....  128¾  December.  100¾ 101 1001}-' 101  121¼ 120 121¼  101¼ 101¾ 101¾ 101¾  ~  122~ 122'7,-s  ISS6. Coupon Bonds.  Registered Bonds.  Coupon Bonds.  Registered Bonds.  g~:cy 4¾s, 1891 4s, 1907. 8s, W.~~on 61~~ ---- ---- ---- ----11---------------- - - - - - - ---- ---  4¼s, 1891. 4s, 1907. 8s\:?.P~~on 6s,1  January.  Opening ........... . ...... . Highest . • .. . ........ . ........•.....•.. •. . Lowest .... . •.............•..•..... . ........ Closing ............ . ... •......•••.•.•••••  February.  Opening ........... . ........••••.....•..•... Highest ...................•....... Lowest ... ... . . .... . .... .. ................ . Closing .. . .... •......... . ....•...•.•.•... .  March.  Opening . ........ . ... . .. •. ..••.••...... . Highest .......... . ...........•••. . ....... Lowest ..... . .........•.....•....•.•....••.. Closing .. •..........•. • .• ••.•...•••••...... .  X  April.  Opening ........•..•. . .• . ...• . . ... . •. . . Highest .......••.•..•.........••...•• ..• Lowest •..•..• •. ..........•.•..•....•....... Closing ...•.............•..•. . ..•.•.•.. •....  May  June.  ·  Opening ..•......•••... ...... . ..... ...••.. Highest ........•.... •.....•.......•....... Lowest •....... . ..•. •. ..........••..•..... . Closing•...•..•...••• • .....•.•.• • .•.....••.   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  x121¾ 122 121¼ 121¾  101¼ 101¼ 101J.4  Opening .. . . ... . .. . . ..... . . . . . ............. . Highest . ....... .. .. ... • .............. . Lowest . . .......... . ...... . .......... . Closing....... . . ......•........... . .... .  112¼ 112% 112¼ 1127/4  121% 122¾ 121¾ 122¾  102 102 101),li 101¼  Opening ....... . ..... .. ......... .. ........ . Highest ........ . ... ... . . .. . ..... . .. . .•.•••• Lowest ...•.........•.•........•. . ...•.•.... Closing........ . ....... . .. .. .... .. ... .  112 112¼ 112 112  l~~  101¼ 101¾ 101 101½  112¾ 112¾ 112¾ 112¾  Opening . ... •.••.......•...............•.. Highest ..... . ...•........ . .. ••. ...•••.... . Lowest ........... . ....... . . ... •..•.••.. Closing •....•..•............•............... X  July.  112~ 112'7~ 112% 112%  122¾ 122¼  122¾ X  ]2131; 122¼ 121¾ 122  l01  121% 122¼ 121¾ 122¼  102% 108¼ 102% 108¼  1127,( 112!1,( 112¼ 112%  122¼ 123¾ 122¼  103¼ 104¼ 108¼ 104¾  laS¾  xl22¾ 122% 122¾ 122¾  xlOS¾ 1087/4 108¼ 108¼  112¾ 118),4 118¼  12~ 128¼ 122¾ 122'7/4  108 108~ 102'7/4 108),g  Opening .. . .. . ........ . ..•................. xll2¼ Highest . . ..........•...... .. ..... . ...... . .. 112¾ Lowest . .. . . . .................... . .. . ..... . . . 112¾ 112¾ Closing .. .............. . .... .. . .  122% 128¾ 122% 128¾  108¼ 104 108¾ 1087/li  184 184 184 184 184 184 184 184  Auirust • .  112¾  ~eptember.  October.  xl0l 102¼ 101 102¼  112¾ 113¾ 112¾ 118¼  112¾ 112% 112¾ 112¾  124  103¾ 104 103½ 108~  136¼ 187¾ 136~ 187¼  Opening . . . .................. . .. .. ... . .... . Highest . ....... . ...... . ... . ........ . ....... . Lowest ............• . .. Closing ...•.. •.... . . . .. .. ......• . ..•..••.  118¼ 118¼ 118¼ 118¼  128¼ 128¼ 128¾ 128¾  104 104 102¾ 102%  185 185 184¾  Opening........ . ....•....•..... . .•. . .. . xl12¾ Highest ....... . ......••.•.... • ... •. . .. . .. . . 1127/4 112¾ Lowest . ........... . .. ...•.• .....•.....•... Closing ..• . •.•..••••••.. . .....•••.•. .. ... 1127/li  ~  108),g  124¾ 128¾ 124~  104¾  Ope11.inir •. -... . .......... . ...•...... . . . •· ·· Highest . . . . . . •....•.. . . . ............... Lowest .. . ...... . . • ..... .. . ... . ... . .. . Closing. ..... . ... ... ... . ....•.... . ......  X  184M'  November.  December.  I  112¼ 113¾ 112¼ 113¾  x122¾ 124 122¾  X  103¼ 108¼  X188 188 188 188  STATE SECUR ITIES . PRICES  •  FROM  1860  TO  1885  INCLUSIV E.  There has been a growing sentiment of late years against the further creation of State debts, apparently founded on the fact that such debts have often proved a source of political wrangling, of public demoralization, and of serious loss to the holders of the State obligations. The debts of Northern States were created in large part for war purposes, between 1861. and 1866, and many of them have since been greatly reduced or entirely extinguished. The debts of the Southern States remained substantially the same at the close of the war as they were at the beginning, but amid the unfortunate and disorganized condition of affairs attending reconstruction, bonds were issued and indorse• men ts were made for railroads in some cases with-reckless extravagance. One "scaling '' process after another has been adopted in some States, and in others bonds have been repudiated altogether, so that the prices of State securities of this sort have sometimes fallen to merely nominal figures. The Eleventh Amendment to the Constitution of the United States provides that the j udicia.l power of the United States .shall not "extend to any suit in law or equity commenced or prosecuted against one of the United States by citizens of another State, or by citizens or subjects of any foreign State.'' It is under the protection of this provision in the fundamental law of the land that States remain free from prosecution on their debts, and that S tate bonds become virtually obligatious of honor only. In various ways the creditors of States have endeavored to bring suits for the collection of their debts, but the United States Supreme Oourt bas looked with disfavor upon such suits and has been disposed to uphold the Eleventh Amendment. An effort was made to hold the State of Louisiana responsible by having the action brought in the name of the State of New Hampshire as plaintiff, the bonds having been assigned t_o that State for the purpose; but the U. S. Supreme Court decided against this method of bringing an action. The method adopted to give bondholders a remedy against repudiation by States, through making the coupons receivable for taxes, was held in Virginia to form a contract with the bondholders which could not afterward be annulled by act of the Legislature. But the practical benefit of this contract for bondholders wa_s much lessened by the subsequent legislation in the State, prescribing vexatious proceedings for the bondholders to go through with before they could make their coupons available, and the litigation upon this subject, having been twice carried to the United States Supreme Court, is again before that tribunal in cases now pending on appeal from the Courts in Virginia. 1860 to 1871, lnclushte. f Prices from 1860 to 18'71 are compiled from 11ales, and since 1871 from prices bid on Friday of each week, at the N. Y. Stock E.x::ohange,J D..ll!SCRlPTION. Ohio 68, 1886 . .. .•.. .. Kentucky6s ........ . 111., Int. Imp. Stck. '47 " " " lDterest . lll.6s,'79,cou ........  1860. Lowest.  1861.  Highest.  106¼ Jan. 113¼ Aug. 99 Dec. 106.h JunP, 100 Feb. 106¼ Oct. 100 Mch. 100¼ July. 104¼May.106¾Sept .  1863.  1864. 1&t 5. -----~1-------I- •-----1---~ ~-Higheet.  tnwest.  Higheet.  Lowest.  87 Dec. 65 April ..• . . . . . . .. . . . . 75 June  109 Feb. 97 Jan . .. . .. . . . . . . .. . .. . . . . . 8574 Sept.  93 70¼ Jan. . . . . . . . . .. .. .. . . . . . . . 80),(Jan.  s;;;:  ~~.d~:!~~~~c~tii:·:: ·sii···jaii:· ·!ia .. 'A°ug." ·1s···jtiiy. ·ga ...Aprn ~~ M1ch1gan 6 per cent•.. 98 TennePsee6percent .  64  Mch. 106 Dec. 93  June 77 Dec . 83¾ Oct. June 3474'June 77 Mar.  Lowest.  i!t  Highest. Lowest. 1 Bigheet. Lowest. Highest. 115 Nov. · ~ ~ = ... ...... .. .... ... ..... ... . ...... ~~ ~ 100 Dec .. . . . . . . .. . . . . •. . . . . . .. . . . . . • . . . ... . ,. ...... . ........... ... . ... . .. . . . . . . . . . . . . • . . ... .. . . .. . . . . . ... . • . . . • . . . .. . . . . • . . . . •.. , .. . .......... . .. . . . · 110 Dec ·· ::.':::::::::::::.'·: ::::::::::::·::::::: :::::::::::: . ....... . .. .  :¼~~~; ······--···. ........... ···· ··· ....... ········· . ::::::::~  1  77¾ Jan . 105 Jan . 63  42  net · · · · ·· · · · · · · · · .. · · · · · · · · · · .. · · · · · · · · · •· ·•··· •" · •· · · ·· · · ··· ... ·•· Feb . 57 ··jai1: .67¾.May: 'i,2 ' Jui;: .64 ··Feb · 92"-b'~.'  ~!~gi~f~i·t>~~~:n~~::: 73 "n·e·c_- 95 ··1r1:cli : ·af ..Ap~ii ·1h ··Ma;: ',i!i'"jiiii·_- ·5riji·oc·t:· '49 ..n.ec. Va. 6 p. c. new bds.... . . . . . .. . . . . . . . . . . . . . ... . ........... . , . . . . . • .. • .. . .. N.Carolina6p.c. 77,¼Dec. 100 Sept. 44 June 82½Feb. fl0 Jan·. ·7,r· . June ·53• -·n·e·c .'  w"llar:  ·1s ...Fe1>.' ·47 ...jaii..64 "sep·t: 'ro.. 'jai1." ·ira···N0,:: ·ao·· ·MM. ·•g···jan · .63 .. A.ug· 58...j-ii.ii'· .86 ...D~•  ~: 8: ~g· Ji>'e~i~i' ~~!: :::::::::: .. :·:.::::: ::::::::::: ·::. :::.::· ::::::::::: :····· ··· ·· ·· ·· ············ ········.-. ······· ··; ··········· ·········:. Dec. 84.¼ June 85 May.172 Jan. 40 Jan. 56,i,i°F.eb." ·5g)i·ne·c: ·75 ··May·. 'i;o·"oci: "7sji.Ap~£1 51  Mii!~O!}ri6percent ... 61 Lo~1Srnf!a6percent•. 94 Oahforr11a 7 percent .. 82 DESCRIPTION,  Jan. Jan.  99¼Oct. 45 May. 77¼Mar. 95 Sept. 71,½ May. 88 Jan. -1866. ~ -- - Lowest. Highest. Lowest. Highest.  Tenn. 6 per cent . , 84 Mar. Tenn. do. uew bds.... . . . . . . . . . . . Virginia 6 per cent .... 60 Nov. Va. do. new bds...... . .. . . . . . . . N. Carolina 6 per cent. 73 Nov. N. C. do. new _b d s . .. N. C. do. Special Tax. .. . . . . . . . llli!l~O}lri 6 per cent .. · 1· 71 Mar. Lou1s1ana 80 Jan . California 67 per per uent.. cent.. 106 April CoTJnecticut 6s Bbodelsland6s: .. ::: :::·:: :·:::   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  100 June . 72 Jau. .. .. . .... 88 Jan  59 Jan . 70 Mar. 55 76¾ Jan . 116¾ Dec . 114  Lowest.  1868. Highest.  %61  :;:::::·:::  Lowest.  1869. Highe!!L  Jan. '70¼ July. X59¼ Jan. 78¼ Juue x49J.( Dec. 4ou Dec 41 Mar. 'i;o' "ja~;.· x43½'jiii:;.· "iio·. May: x47/ll Dec: . . . . . . . . . . . . . . . . . . . . . . .. . . . .. . . . . . . . . . . . . . . 49 Se:i.,t. 45 Mar. 60¼ July. x50 Jan. 79 June x40~( Dec. 27 Nov. . . . . . . . . . .. .. . . . . . . 86?.( Mar. 106 Jnly·. ·s,f .. ios' "Feb.' .85... S~p~ 80 Feb. 9(1 Jan. 115 Jan. 126 Dec i2s· . i>'ec i34. ·Ma.. . . . . . . . 98J, j 102 s i. · r. · • · · · ·· · · · • 99 A~ri1100 M8fr. : : :: :::: ::: :::: : .. :::: :·:: :::::::  I·... .. .... .. ..... . ... . .. . •. ............................................ 93¼ Dec. 100 • Oct. Sept. 120  Nov. 80 'Mar. 52 Ang. 139¼ Mar 123  iiov:  Feb 75 J11n·. 167  April 60 Aug . 112  1870. Lowest. Highest,  ~0 Jan. x52¼ Jan. 69 7/ Jan 45 1 / Mar 59¾ Jan: /W • 63¼ Jan 66¾ Jan: x.40 Jaa 64 Jan. 20¼ Dec.  x:~¾ ~::·  70 68v 4 7{ 73 55 36¼  July. July Mar.' Mar July. July. •• •• .. :iune  "Niar·  'r;g · ··ne·c· Feb· 80 Dec· May·. 155 Jan:  1811. Lo~~·st-._H_i_g-he_e_t. 61 6'1  Dee. J an.  76 Aug ~6•/ A I /W ng 74 Aprl Jal  ~5¼ ~~t. i~¼ 29¾" F!b:  31 Dec. 15~ Dec. 12¼ Dec .96¾. j-i{iie .85. ··iaii·: .95 89 Jan. . . . . .. . . . . . . .. .. . . . . . . . . . . . . . .. . . . . . . . .•. · ·· · '· • •.. • ..... • · · .... · · · •· · · · .. · · · · .. · · · :::::::'.::: :::::::.:~ . • :: ::::·:: :::: :::::::  21¼ F b. J!1, . .·,,. . . ... . ..... ·· •· · · ._.. . : ::~ ' 9!l1L  TA TE  DE3CRIPTION  S.ECURTTJES.  41  1872. 1873. 1874. 1871'i. 1876. 1877. . - - 1 - - ,1- -1~ - ;- - i - - - - i,owest. Highest. Lowest. Highei;t. Lowest. Highest. Lowest. · Highest. Lowest. ~igbest. LoweQt. Highest.  I  .Alabama--5s, 1886 ............ • 55 88 of 18 A;!~l~oci'& Smit.ii::: 50  Mar.  62>ci May.  45  July  57  Jan.  Dec.. _2_5_D_c_. --41- ½Ji~ ~  1.25  Jan..  8U  Oct. !IB!.,iJan. 18 Dec. 19 Jan. 10 Nov 17½June 5 Nov.107 Apr.100 1  Ju ne Aur. Sept Jan.'  29 Jan. 2l½Mar. 11 1ti l<'eb.  15 7  80 Nov. 31 Dec. 30 Dec. 9l½Mar. 9l½Mar. 42 Jan. 58 Dec.  26 Sept. 85½Dec. 27 Aug. 85 July 26 Sept. 85½ Dec. 62 J<·eb. 78 Jan. 62 Feb. 77¼Jan. 80 l<'eb. 40¾ Oct. 55 Jan. 76 Dec.  - Jao.  85  Nov. 82  Jun ..  48  Nov.  !~ Su,. . ~~ J:g• 4g trt: ~ tu~r ~ f;;: ~ 15~~: ~ J~~e ~¼ frff i~ J~t ig f~ri: 60 N~,~~ Z7 July 5 A~g: 23 Jan. 8 Mar. 17 .Jun e 3 Dec. 18 1 eb. 2 .Aug. 10 Jau. 1 1 ~:~~· 1~¼:i>!~: 8i g~g_- lt~¾:f~~! ti i!~: lM ~~6.- 1g~ i:~: HZ "tf:l. io5··iar1. iia··Nov : iifri··oci:· iiif.iu~·; Jan. 77 Jan. 59 Nov . ts2 May 65 Jan. 80 Dec. 80 Jan. 90 Sept. Ul Aug. 97 Mar. 93 Jre b. 1g~~ illy 7s. new. . .. . . . .... . . . . .• . .. . . 84 Fob. 90 May. 7<1 Nov. 91 May sg Jan. 92 Dec. 88¾ Jar,. 104 Dec. 100¾ Jan. 107½ June 103 Jan. 1 • ~ ar. J1linois-6s. 1879, coupon.... . . . . . . . . . . . . . . . . . . . . 85 Nov. 99 July 9:> Jan. rn:½ ~~~~ 1ti 1!~: ½&t E:g: rn~ :f ~1~: 18!¼ J;~: 1gg i:~: ½8~ ~~~: f~~f~i~t=1!;te,•ee:·.:·.: ::: ~i b~t ig~½i~r gg i!~: lgg f~t g½j~1e 28 Nov. 25 Jan. 40 Dec.. 87 Dec. 46 May. 85 Jan. 56 Dec. 7s, consol. ......... . .. .. •... ..... ... .... . ............... . . .. .... ... ............. .. . ...... ioi"" Deic: ioi." ·j~~·.- iin!,i{ Oct" 18~½ ~~~ .• i~½ i~~~ lg<f i~ry 1~½ 1;Je ~i;~~~:~•1J-n~:::::::: ::: .iJi.¾F.ept: id½.Ju.ne ~ ggr 2g¼¥i;~e t½t~. !JS¾Dec. t4¾Jan. 102;)-.!Jnnc !Ol¼Jan. 108)g~ept.104¼Jan. 108%June NewYork-6s, bonnty,-cour105¾0ct . 109 May.103 Nov. 108 June103½Jan. 110 Muy.105;¼Jan. 109 Junel02 July 105i)sMay.101 Jan. ~OI¼Feb.  ~rTit··d···--··--· fo 1 ~~~~~~f~~a:::::::::::::: rs G-eor~ia-6s... .• . .• ........... 70  No.Carolina--6s,old,J.&J. 6s,new,J.&J . . .. . ....... . . 6 · It Oh~o~ti88t:::::::: :::: ::: :Jit<fieJ:~~·N~.~ : ::::::::: : ~ J &; J 6:• i... 'Ten'nessee--&.old ......... . 6s,new . ... ..... . .. .. .... .... Virgini~s. old ..•.•.. ... .. . 6s,consol. ...................  *ug. f~½:fan. A~~: F~b.e 15  80¼May. 15 Jan. 10 Oct ····· · ·····  !3 ~~: 23 Sept  &o::::::::::::::::::: 68¾Jan. 22 Jan.'  63:111Jan. 42 July. 50½July.  38¼Mar. 23 Mar. 16 Mar ........... : l~½f~)y~ 89 Mar 86 AJJf.' 80½Dec. 80¼Dec. 56¾ Feb. 59 Mar.  JANUARY.I FEBRUARY  20 14 5 99  ~~ ~~r  8 Nov 19 Mar: 68½Nov. 62;4Nov. 8'! Oct. 44 Oct.  MAROH.  ~  ~6 fat:  29 ½Jan 28 Apr: 84¾Mar. 85 Mar. 47 F eb. 56!,4Mar.  APRIL.  I  i~~:  6½ Jan  12 ~ F e b: 67 Oct. 67 Oct . 28 ,June 49~ J an.  MAY.  :i:.  l)e~. 27 Jan. Dec. 16 Jan. Aug . 4¾May  Sept. 18½Nov. 15 Oct. 9 Jan. 6 ¾ Aug. 3¼Feh. 1  13 5  m b~!:~gg  rni½~:l.'½2~ J!~: i&~¼~~~~•rng 1~:  JITNE.  JITLY .  80 June 80 June 80 June 40'~ Dec. 40 Dec. 22 Sept. 73 May.  40 Nov 87¼ Feb. 87½Feb. 49 Aug· 4ll Aug. 87 Jan. 78¼Nov.  Oct. 23 Jan. Oc t. 12 Feb. Aug. 8½Jan.. 11  ggt: i}f' t,_~y\)  82  Jan . Aug . 80 Aug. 86roDec. 85 Dec. 80 Jan. 62¼Dec. 80  45 Apr. Apr. t4 Apr. 47¼Nov. 4~Nov. 84 Nov. 83¾Jnne  45  1  AUGGST. ISEPT'MB R OCTOBER. NOVEXBER DEOE:MBEB  DESCRlPTION. - - - -·----·1----1·-·- · ---- - - - ---- - --- - - - - - Low.High. L·•w.High. Low.High. L ,w.B:igh. Lo"' High. Low.High. Low.Hh:h. Low.High. T,,,w .High. Low.High. Low.~igh Lov .High. Alabama 5s, 1883 . . . 39 - 40 ,tO - 40 41¾- 43 5s,188li.... .. .. . . . 3J -41' 40 -4·) 4l½-4-'3 Ss,1886 . .. . . .. ..... . :39 - 40 40 - 40 42 - 43 8s, 1ssg .... .... . .. o9½- 40 40 - 40 42 - 4-l '8 s, M. & E. RR . 8s, Ala. & Chat RR 5 - 5 5 - 5 5 - 5 8•, 18 12. 20 - 211 20 - 20 1:0 - ~O 8~, JS!J::l. .. . .. 20 - 20 20 - tu iio - 20 Arkan~a~ 6s, fllnded. 2'i?.(- 26Y2 2.! - 2i 18 - :.0 7s, L. R. & Ft S. ii,s. 4 - 5 3 - 4 3 - 4 7s, Mem nh & [ .. R . 4 - Ii 3 - 4 3 - 5 7s, L. R.P .B . & N.O . 4 - 5 3 - 4 3 - 4 7s, M. o. &R. Riv . . 4 - 5 3 - 4 3 - 4 7s, Ark. Cent. RR.. 4 - 4 4 - 4 3 - 4 Connectictu 6s .. .... 105 - l 8 1(,5 -10S 108 -108 Georgia tis........ 100 -101¾ 9t:!,i- 9:~¾ !-l!~¾-100 'is, new. . .. . . . . 114¾-105,½ 10J -106¼ 107 -108¼ 7s, endorsed ........ 10! -104¾ 1U4 -105¾ 104½-10'4'¾ 7s, gold .. .. iOi~-106~ 105¾-lOti 106 -107,½ Illinoilll 6s, '79, coup.. 100¼-103 1(10 -101 100 -101 war loan .... . 101 -103 100 -101 !00 -101 Ke tucky 6s..... . . . 100 -tol 00 -101 Louisiana 6s . . . . . . • . 55 - 56 5fi - 56 55 - 57 new b onds ... .. . 55 - 5ti 51> - 5'i 55 - 57 6s, n e w fl. oat debt.. 55 - 56 56 - 56 55 - r,7 7s, peniu, ntiary . 55 - E6 56 - 56 5j - 57 6s, l11vee b nds.. . . 55 - t 6 5fi - 56 55 - 57 Ss. levee bo11ds..... Si - 56 .i6 - f.6 55 - 57 81.'1, l evee bonds, '15. 55 - 5li 56 - 5':i 55 - 57 8s of 1910 . . . . . . . . . - . . . . ... - .. . 7s, consolidated... 80}4- 83¼ 81½ - 84¾ 77 - 83¼ 7s, small . ... . . . .... 79 - 81 81 - 81 76 - 81 Michigan 6s, 18711.... 00 -11 o 100 -100 100 -101 6s, lt:83. . . .•... 101 -105 102 -103 104 -105 7s,1890. ··········· 111 -111 112 -113 llO -113 Missouri 6s, due 1878 100 -100 100 -100 100 -101¾ 6s, 1882or1883 . ,02¾-104 102 -11•2½ 103 -103 6s, 1896........... . 104 -104¾ 1U4,½-105 l U•¾-105 iis, 1887. . . . ... ... . . 04 -104½ 104,½-105.¼( 104¾-105 6s, 1888. . ... 104¼-104¾ 104¼-105¼ 10 1½-lO ,¾ 68, 18S!} or 1890 . . . . 104¼'-105 05 -10j 105 -10fi Asy. or Uni., '92 ... 105,¼-106,¼: .o,; -105½ 105 -105¼ fudg, due '94-'95 .. 107 -107¼ 107 -108½ 108 -IU:l½ Han. &St.Jo•., '86. 103¾-104 103 -104 103 -104¾ Han. &S r.Jos, '8 103½-104 lu3½-104 103 -10'1½ NewYork6~,gld,reg . . : .. - . . . . . . - ... ... .• 6s,gold,coup,'8i. : . . . . . . 6s, gold. coup. '91 . 115¼'•:116 ,15,;.(-116 116. -tis"' 6s, gold, coup, ')12. ll5~~1lti [15!,{-116 llti - :17 6s. gold, coup, '93 ll!i¼-116 115~-116 116 - l'll N. Caro. 6s, old, J&J. 15 - 17.½ 16¼- 17¾ 15 - 15J( 6s, old, A&O . .. . . . 15 - 17¼ 16,!,(- 17¾ 15 - 16 6s, N . C. RR., J &J 70 - 70 65 - 70 65 - 67 tis, N. C. RR., A&O 70 - 'iO 65 - 70 65 - 67 6s,coup.o:lf. J ~ J .. 50 -f>1 51 -51 45 -48 6s, coup. off, A&O. 50 - 51 51 -51 45 - 4S 6s,fundingact. lrn6 9¼- 10 9¾- 10½ 8¾- 10 6s,funding 11ct,l868 9 - 9¾ 9 -10 8¼- 9 tis, new bonds, J&J 7 - 8¾ 8½- 9 8 - ~¾ 6s, newb mds. A&O 7 - 8½ 8½- 9 8 - R¼ Special tax,class 1. 2 - 2 2 - 2¾ 2,!.i- 2¾ do class 2. 2 - 2 2 - 2¼ 2 - 2¼ ,. do class 3. 2 - 2 2 - •2¼ 2 - 2 71 Ohio 6s, 18H .. .• .... 10:l,J,(-104 104 -104 10t -105  ik~ d:stsl~~hs·~: : .. tgg =1~ igg ={~ ~gi ~}~i :,ouhCa•olina.6s .. . 40 -41 40 -41 40 -41 0  6s, J&J . . . ... .. 6s, A&O . . . . . . . . . . tis, funding act, 181i6 , 6s, ltind C, '89, J &J 6t<,l,indC.,'89,A&O 7s of 18!8. . . . . . . Non-fundable b'ds. Tennessee6s,old . .. 6s, new .... . ••. 6s, n ew series .. .. .. Virgin a 6s, old..... . 6s,new,1866 . ...... 6~, new, 186i ... 6t:1, consol. bonds .. . 6s, ex-matured c, 1 up 6s, consol. 2d seriei 6s, deferred. . .. . .. Dist'ctCol. 3·65s, 1924 '.J "3mall bonds ... .Regis•ered bonds..  30 - 30 30 ·- 30 35 - 36 40 - 41 41) - 41 30 - 32½ 2 - 2 33¾-38¼ t 31,f- 37¾ 33J.i- 37½ 30 - 3 1 30 -30 30 - 30 67 - li7 54¼- 57,X" 40 - 40 4½- 4¾ 75¼- 77¼ 7o - 76 75¾- 76¾  6   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  SO 30 30 40 40 30  -  30 30 35 41 41 35 ¼- 2 3G.J,(-39 35),(- 37 35 - 37 30 - 31 30 -31 3v - 31 6\ - 67 55 - 56 40 - 41 4 - 4¾ 76¾- 'i7,¼:' 7,i¼- 77 , Ii_¾- 773,(  30 - 30 30 - 30 30 - 30 40 - 42 40 - 42 30 - 30 1 - 2 36,i-38¼ 35 - 3ti 3"i - 35¼ 25 - 29 30 -32 30 - 32 67 - 70 56.Ji(- 58 85 - 37 4¼- 4½ 74¼- 76¾ 75¾- 'i6¼ 75 - 'i6¾  43 - 43½ 41,¼-4 3½ 4 ¼- 43½ 43 "4- 43 ~ Ii - 5 20 - 20 20 - 20 20 - 20 4 - 5 4 - 5 4 - 5 4 - 5 4 - 5 108 -109 ltO -1001,( 108 -108¾ lOiJ,€-108 106 -107¾ 101 -101½ lOl -101½ lOl - iOl 55 - t6 55 - 56 55 - 56 55 - 56 5'i - 5t\ 55 - 56 55 - 56 10 - 10 74¾- 7ri¾ 73 - 75 101 -103 1!'4 -104 110 -:rn 101¾-101¾ 102 -·1 13 103¾-104 104 -104).( 104¼"-104½ 104,¾-:05¾ 1, 5 -105 1.08 -1ll8¾ IOOJci-J0,:1 IGO -103 . ... - ... -  43 43 4::i 43  - 4:3 '<> -4:-l½ - 43)9 - 43½ '  ... 6 - 6 20 - 21 .o - 21 20 - ,5 4 - 5 4 - 5 4 - 5 4 - 5 4 - 5 103 -10S 100 - 100~ 103¼-109¼' 103 -10S½ 107 -107½ 10! -102 101 -102 101 -102 54 - 5ti 54 - :,6 54 - 56 54 - 56 51 - 56 54 - 56 54 - 56 10 - 10 7.1 - 78 75 - 77 l01¾-i 02 103 · 104¾ 108 -11::l 101½-102 102¾-103 103 -105 104¾-105:lo( 10:i ¾-105~ 105½- :0ti 105 -107 107.J,€-108¾ 103 -104½ 103,¾-104¼ 113 -114 114 -114  :::: - ... .. .. -  - ... 120 -120 15¾- 17 15¾- l fi¼ 68 - 70 68 - 70 43 -50 48 - 50 9 - !:I¼' 8¾- 8¼ 8 - 8½ 8 - 8½ 2 - 2¾ 2 - 2¼ 2 - 2)..4 05 -105 74 0  {?g  120· -123 16'9- 17 16½- 17 70 - 70 70 - 71 50 -51 50 - 51 9 - 9 8¾- 8¾ 8 - BM 8 8¾ 2 - 2¾ 2 - 2¾ 2 - 2¾ 1C4 -106  4'i ½- 44 43 - 43 43½-44 .f-l -43 13½- 44 43 - -1 3 43,½- 44 4::l - 43 . ... ti - 8 7 - .8. ' 20 - 20 20 - '2 J 20 - •b J 20 ~ ~o 2~ - 2 !½ 20 - 21J 5 - 5 ', ·3 4 5 - 5 ¾1 3 - · 4 5 - 5¾ 3 - 4 5 - 5¼ 3 - 4 5 - 5¼ 3 - 4 1t 8 -109 10 , -108 100,J,(-101¾ 10-2,¼-102,¾ llJ!:l¾-109½ 106!.<i-107 08¼,-108½ 05¾-106¾ 107¼ -108 106 -108 102½-103 !Ot> -100¾ 102½-103 100 -JOLI½ 102¼-103 lOO - 1 00½ 50 - 52 50 - 52 50 - 52 50 - 52 50 - 52 50 - 52 50 - 52 50 - 52 50 - 52 50 - 52 50 - 52 50 - 52 50 - 52 50 - 52 • - . . .. 70¼- 80½ 74 - 77¼ 69½- · 9 73 - 75 102½-102½ 100 -100.!G 104 -104 103 -101 llO -110 108 -109 :Oi ½-102¼ 1110 -100 I03¾-104 101 -10l½ 106 -1061< 103 -1l}4¾ 106.!,(-106,¼' 103¼-104½ 106¾-106" 101 -105 106½-107 104 -106 ll •6 -107 104 -104½ 1('7 -109 11'4¾-105 105 -106¼' 10:1 -103¾ 105 -106,l( 103,¼-103¾ 1 :2 - 11t 1 13 -113¼ 114 -115 t13 -113~ 120M-12U,¼:' ... . . . . . ... 117 -120 121 -1221'; 16 - 16½ 14¾- 15¼ 16 - 16½ 14½- 15¾ 70 - 70 70 - 70 70 - 70 70 - 70 !)fl -50 50 -50 50 - 50 50 - 5,l 9 - 9½ 9 - 9½ 9 - 9 9 - 9 8 - 8¾ 8½- 9 8 - 8 '9 8 - 9 2 - 2 1( 2 - 2 2 - 2 2 - :.! 2 - 2 . .. - . ... 103 -100 103 - 104  43 43 43 43  - , 3 7, 43 - 43¼ 42 - 42½ -43½ 13 -43¼ 42 -43 - 4 1½ 43 - 4 · ¼ 42 - 42½ - 43)2 4~ - 43¼ 4 ¼ · 4.!,½ t! - J2 12 - 13¼ - .. . 8 - IO 9 - 10 . .. 20 - 'W 20 - 20 20 - 21 : o - 20 20 - 20 20 - 20 20 - 2l 21 - 22 20 - 21 3 - 4 4 - 4½ 4 - 4 3 - 4 4 - 4.½ 4 - 4 3 - 4 4 - 4¼ 4 - 4 3 - 4 4 - 4½ 4 - 4 3 - 3 4 - 4½ 4 - 4 107 -108 107 -108 1C'6 -108 9:J -100 WO -100¼' 1011 -100½ ,07 -107¼ 107½-108 107~·-103 106 -106½ 106½-107 Oi. -108J,.a 107 -107½ 107 -108 107 -108 100¾-101 1111 -101¾ 101 -102 100 -102 101¾-10:t 101 -102 101 -101 101,½ - 102 101 -102 50 - 50 50 - 50 60 - 50 50 - 50 50 - tiO 60 - 50 !;0 - 50 50 - 50½ 50 - &3 50 - 50 50 - 51 50 - 53 50 - 50 50 - 50 50 - 53 W - 50 50 - 50 50 - 53 W - 50 50 - 50 50 - 53 .. . . - . ... 70~- 73J.5 7~¾ .. 74!( 74 - 74¼ 69 - 71 .. . . • - .. . 100 -101 10 1½- 02 101¼-IO '½ 10.! -104;i,4 104 -,04 101 - 05 110 -110 111 -111 115 -115 100 -100 0) -101 101 -101 ~ 101 -101 101½- 102 102 -10.'3!,j l02 - ·04¼' 102¼-1~¼ 103 -105½ 102¾-104)..4 102½-103¼ 10 :¼-1t6 JOJ",!-105!.( 102,½-10!'!¾ 104 -10ti¾ 102½-104½ 10~¼-103½ 104),(- OM¾ 10\ -104 03 -104 10'1 -105 105 - 10.i 104 -10fi 106 -lOti 102 -103~ !02½-103¾ 103 -103 1,£ 102 -103,½ 102y.-10J,¼ 10:1½-lOl¼ 113 -1 ' 3 ll3 -113 113 -114 113 -113 113 -113 113 -113 120 -120 121 -121 121 -122 120 -120 121 -121 121 -122 120 -121 111 -ltl 121 -122 14¾- 16¼' :6¾- 16¾ 16 - 16½ 14¾- 14¾ 16 - lh½ Hi - 16,¼ 70 - 70 71 - 75 74 - 74 70 - 70 a - 75 74 - 74 5'1 -50,i, 52¼-54 54 -51 50 - 5 '½ 52¼- U 5t - 54 8 1{- 9 8 ½- !:I ii - 9 8 - 9 8½- 9 9 - 9 8 - 8,li 8 - 9 8½- 9 8 - 8½ 8 - 9 8¾- 9 2 - 2 2 - 2 2 - 2 2 - 2 1½"- 1½ 1½- 1½ 2 - 2 '¾- 1½ 1 - 1½ 104 -'.01 104 -105 104 -105 1  =} i~ m =m½ m ~m i~44 =1;1t {~g44 ='-44 ?g 42 -44 41 -45 -44  40 - -- 2 30 - 30 3/J - 30 3(} - :10 40 - 42 40 - 43 30 - 80 2 - 2 39 -39¼ 36 - 3614 35¾- 36 27 - 27 27 -31 ').7 - 34 7ll - 7:3 581(- 60¼ 30 - 32 4Ji(- 4¾ 74¼- 75¼ 75½- 75¾ 74 - 75  30 - 31 30 - 1!0 3il - 30 40 - 42 40 - 42 30 - 30 2 - 2,¼ 39 - 3l,¾ 35½- 36 35 ,,- 35¾ 2:3 - 27 23 -27 25 - 27 70¼- 75 69 - 62 29 - 32½ 4 - 43' 76¼- F2¾ 7o - 7/i 76!,-4 - 7ri.J,(  3'l - 30 30 - 30 30 - 30 40 - 40 40 - 40 30 - 30 2 - 2¼ 36 -36 35 - 3:J,¼' 35 - 35 20 - 20 20 -2::l 20 - 23 70 - 72½ 583,~- 59½ 25 - 25 4 - 4¼ 83 - 84 .... - . .. ... • - . . ..  30 - W 3 I - 30 30 - 30 40 - 40 40 - 40 30 - 35 2 - 2 35 -36 33½- 34 33 - 33,½ 20 - 20 ~O -20 20 - 20 70 - 72 55 - 57 • 2ci - 28½ 4 - 4 80 - 83,¼ .. .. · 83¼- 83½  21 - 30 20 - 30 27 - 30 40 - 42 40 - 42 32 - 32¾ l¼- 1¾ 31 -35 33),(- 33¾ 33¾- 33¾ 20 - 21 20 -21 20 - 21 70 - 72½ 53 - 5'> 28 - 28½ 4 - 5 79 - 81,¼:' . .. - . . .. .. .. -  ~g~  42 42 42 ~2 ....  - 4·3 -43 - 41 - 43 - ... . 20 - 20 20 - 20 ~l - 22 3 - 4 3 - 4 3 - 4 3 - 4 3 - 4 107 -108 100 -100¾ 103,¼-109h :07 -1;;7,'i 107 -108 IO!½- 03 :02½-103 103 - 03 }8 5·? - ~O 52 - 5~ 52 - 52 52 - b2 52 - 52 52 - 52 52 - 52 75½- 78,% 74 - 7t 102½-10!:l½ 104¼-10 ¾ 111 -113 102 -102¾ 103 -103¼ 1043(-105½ 104¾-105¾ 105¼-1n5¼ 105½-106½ 101 -105,½ 10fi -10,1 108½-104½ 103,½-10!¼ 113 -114 113 -115 121 -124 121 -12-1 121 -1~5 15)(- 17¾ 1-1 - 17 80 - fll 80 - 81 60 -61 60 - 61 9 - !I½ 9 - 9¾ 9 - 9¾ 8¼- 9¼ 2 - 2}{. 1¼- 2 1¾- 1¼ 104 -105  43 - 43½ 43 -4:j½ - 43'i 43 - 4li·, -  4:l  Ii  -  5  20 - 20 20 - 20 15 - :.2 ll 3 2 - a 2 - 3 2 - 3 2 - 3 1(7 -108 H•l -101~ ll' ½-llO 08¼-109)1' 11 8 -100 10.1 -103 10:1 -103 103 -:04 50 - i\.l W - 5-2 50 - 52 50 - f>2 50 - 5~ 50 - 5l! 50 - 52 ·69¼- 'i3¼ 69 - 73 103¾-1 ' 3¼ 105 -106 ll2 -Hi . . . - ... lOl½-104¼ 105½-105¾ 105¼-105:i. 106 - 106;'4 106~-106¼ lOi -106 108 -109 105 -105 105 -10/'i 110 -11~ 113 -ll3 120 -122 121 -1~ 122 -125 18.!,(- 19¼ 18 - l!l¼ 84 - 85 64 85 64 -65 64 - 65 10,!,(- llJ.C  10¼ - 11¼ JO¼'- 11 10¾- 11 2¼"- 2¼ 2 - 2].( 2 - 2 102 -105  =n& }&;40 =-44bi ii~~o -25 =i{g¾ in25 =m -25  44 -44 27 - 28 27 - f.17 27 - , 0 40 - 41 40 - 41 31 - 32 1¼- 1¾ 33 -34 31¼- 32 31¼- 32 24 - 25 25 -.2.'i 25 - 25 72 - 73 54¼'- 54½ 29 - 31¼ 5~- ti 78 - 791' . .. '79 - 79  25 - 28 .. 2.3 - 30 30 - 40 30 - 40 30 - 32 1¼- 1¼ a::i -33¼ 31¾- 31¾ 29¾- 3l½ 20 - 24 22 -25 22 - 23 70 - 72½S' 62 - 54½ 30 - 30¼ 6¾- 6 76¾- 'i7¼' 77½- 77¾ . .. . -  5 ·_ 10 10 - 10 5 - 10 10 - 10 5 - 10 10 - 10 10 - ;lQ JO - 10 10 - 20 10 -10 6 - 10 10 - 10 1¾- I¼ 1¼- 2 80 -31¼ 3'{¾-36 25¼- 28:.1 29¾- 30 25 - 28 291(- 29¼ 22 - 25 2 ;' - 27.xi 22 -2i 2fi -29 2:.l - 25 26 - 28 70 - 72 72 - 74 52 - 56¼ 55 - 55¾ 29 - 8513! - 39¾ 6}4'- 7¼ 7¼- 7¼ 77 - 77¼ 7J!<- 79 71¼- 77~ .... - .... 77 - 77 78 - 79  STATE SEOURJTIES.  42  IAXU.ARY  FEBR'RY. MARCH.  APRIL.  MAY.  Jmrn.  JULY.  SEPT'BER. OCTOBER. NOV'BER. DEC'BER~  AUGUST.  DESG-RIPTION.,  Low. High Low. High Low. High Low. High Low. High Low. High Low. High Low. High Low. High Low. High Low. Higl Low. Hil?hl  ---·-~-----~ --~-  ~¼= i~¼  Alci~!~~~~~.s.~~.:::::::·::: ::·::· = :::: Class C.............. ... . . . . . . . . . . 56 - 56  A~:.ai~~.~·Jts~~~<i::::::::  2g 7s, Memphis & L. R....... . 3 7s, L. R. P. B . & N . 0. ..... 3 7s, Miss. O. & R . River.... 3 7s, Arkansas Central RR.. 3 Coonecticut6s,1883-1884.... 105  = 2~. 1~ = 1~ - 4 S - 4 - 4 S - 4 - 4 2 - 3 - 4 2 - 2 -106 105 -105  ig = ~~½ 54½- 56 1~ 1 1 1 1 10-3  =1g - 2 - 2 - 2 - 2 -105  ----·  i~ 52 ~i½:- 58¼ ~~ ~l 58  ~  = 52 - 55  f  1 1 1 1 104  ~  = - l - 1 - 1 ·1 -104  r¼= l~  1 1 1 1 105  ~  - 8¼ 4 - 7 4 - 7¼ 4 - 6 4 -108 105  ~¼= ~r 51ff 53 - 54 r½ 1f =- l½ ~ 4 4 1  ~  =  - 58  = - 4 - 4 - 4 -109  1 1 l 105  - 4 - 4 - 4 -107  1 1 l 106  = *~~ ~ = ~~ - 52 50 - 55  ~  = r - 2 1 - 2 1 - 2½ 1 - 2 1 -108 105  G~~~r::.~:::::::::::::::::::: rn~½=18o2¾ i83½=½~ m½=m~ m=m m½=m½ rn& =m~ 1~~¾=½~r~ 1~i½=1~g½ 1~ 107 7s nd0 , e 1 rsed ................ =½~~ }g99¾:m·¼ 1n¼J½&y lii½=m~ m½:}w~ }W4:½rn m¼=m~ m =nh~ iio n~~J\~ toiipo·ri·a;i;-is'ii1.::::. t&b¾-103 100 -100 101 -101 101 -101 101 -102 102 -102¼ 100 -103 100 -100 100  ~  = - 1 - 1 - l - 1 -107  *~  i~ ro55  1 1 1 1 105  = 1*½ - 4 4 - 6 4 - 4 4 - 41,-<, 5 -107 105  = 54½- 56  ~  ~  M½= ~.  :_g&  - 56Y. 56 - 57 = 1i 1g - 6 3 - 6 3 - 6 3 - 6 3 -107 1'106  = 1i• - 7 - 4 - 4 - 4 -107  =m m  =½88¾ 1gg*}rJM8& =½~~ -1i2"· =m~ ,,i?g½:Hg¼ -100 100 -100¼ 100 -100 100 -100  }~8 mg :}?g K!t~~~;n6s~~?.:: : :::::::::: i8&¾=rnf 18& :mg }gg =rn~ m:m rn~ =rn~ }g~ =½8~¾ mg :}gg ½8& :}88 mg :18& mg :mg 18& :}8& {88 :mg Lou isiana 7s, consolidatecl.. 60½- 67½ 4!> - 57 48%- 58}& 48¾- 52.!,<: 47 - 50½; 41½- 47¼ 87¼- 47¼ 86¼- 871/. 37 - 39 38¾- 4f> . 40 - 44 41 - 46 Mfi~b 1 i~~.~~:?~~.:::::::::::· rnM~=rnf mt =rn~ 18~ =m m=rn~ rnr =rn1 131 =~fil:¼ ~?~ =103 108 =103 103 =103 103 =103 ,108- =103 ,103 =10~~: 7s' 1800 ... . .. . .............. 113 -115 .... ... ... . ... 110 -115 110 -112 112 -115 100 -li4 .. ii5 -lif . iiz -1i,i' ii4; -Ii4 .. 'i io -1ii"° iio -:!.12  M issouri 6s 1882 or 1883.... . lOl½-103½ 6s, 1880 .. .' ..•...........••.... 103 -104 6s, 1887'. • .,..... , . . .....• . ... 103 -104½ 6s 1888 . . .... . ..•..••. , . . ... . 103¾-105 6s : 1889 or 1890' ............. 108¾-105½ Asylum or University-..... 103 -106 Funding bonds . . ........... 105 -107 H a n . & St. Joseph, 1886 ... L102., -104 Han. & St. Joseph 1887 ... 102 -104 N ew York(ls,reg-., 1887 ...... 110 -110 110  105 -105 101½-103 102 -102½ 104¾-lOO½ 103 -104 103¼· 104 105- -106½ 103¼-104 103¼ 104 106- -107 103½-104½ 10$¾-104½; l05½-107 104 -104~ 104 -105 106 -109 104 -107 107 -107 . .. . . . . 105 -109¼ 108¾-108¾ 104 -lOQ 104 -105 ,103,½-104 . 104 -l0o 104 -105 103½-104½ 110 - 110 110 -110 110 -110 110 110 ~:~ : 15g :}ig ng 6s' loan, 1891. ............... 117 -120·· 120 -120 .. 120 -120 120"-120 Os'. loan,1892 ................ 118 -120 121 -121 121 -121 121 - 121 6s, loan, 1893....... . ........ 120 -121 122 -122 122 -122 122 -122 N. Carolina Os, old, J. & J ... 18½- 19½ 17½ -19½ 20½- 22¾ 22 - 22½ 6s old, A . & 0 .......... . ... 17¾- 19½ 18 - 19½ 20¼- 22% 22 - 22¾ N.' C. HR., J . & J........... 85 - 87 87 -100¼ 100 -100 100½-100  g:•ri~~~~:::::::::::::  =n~  -  :~8:c. Rii::f.'!tb~~.~~::: :: ~g  l~ i~  :188  103 -104 104¾-105½ 102 -108¼ 103½-106 106%-107 103 -104 104¾;-106~ 106¾-107½ 103 -105 105¼-107 107 -108 104 -105 105½-107 107½-108½ 104½-106¾ 107 -110 108 -110 104 -107 110 -112 111 -111 106 -108¼ 104 -106. 106. -107 103½-104 104 -106 106 -107¼ 103½-104 110 -110 x106-106 106 -108  101 -102½ 102 -103¼ 103 -103½ 104 -105 103½-104 105 -106 106 -107 102 -103½ 102 -103½ 107½-107¾  ½5~ =½i& 120 -120 121 -121 122 -123 22.½- 24:½ 22½- 24½ 104 -106  rni½Jgi:Jqgi·~=i88 117 -117 117 -117 119 -120 xll7-120 121 -121 x117-l21 22¾- 24 22 - 23¾ 23 - ~ 22 - 23}4' 108 -109 106 -109¼  it  ~rnu~g xll7-120 121) -121 122 -122 25 - 2~ 24¾- 25½ 105 -106Y  mg  =mg 1:7 -117 120 -120 121 -122 24½- 25 24½- 25 107 -108  101 -102 103 104½ 103 -104¾ 104¾-106 104'¼-100 105 -106 107 -107 108½-104¼ 104 -104¾ 107ij-109  102 -104 lO~i-104¼ 104 -l045W 105 -106 106 -106 105 -107 106½-107½ 104 -104 104' -104½ 107¾-108  mi  102 -102 103 -103 103½-104¼ 105 -105¼ 103½-104½ _. 105½-106~ 104 -105 flOO -107 104 -105¼ 106.½-107 104' -Hl4· 105 -106¼ lOfi½-106.½ J07 -107¼ 104 -104 104 -IM~ 104: -104' JO.tf -106 · 108 -108 108 -108  m~  =rn~ 117 -IJ7 ·'117' 117 -117 117 117 -117 117 23 - 25 25 23 - 25 25 106~109½ 100  =18i -]17_ -117 -117 - 25 - 25 -104  :it  = =100" 188 1~8~=1~g =1~ l~g =1~½ 1i7¼=1~ ~~½=1~8½ 18~ =1~ 18g½:18[½ lggN. RR., cou pons o:fl'. . ... ' 65 - 70 61 - 80 80 - 80 80½- 85 84 - 86 85 - 87 87½- 88 88½- 89){ 87 - 89 86½- 88 80 - 84 F u nding act, 1866 . .... ~.... JO½- 14¼ 7 - 8 7 - 8 8 - 8~ 8jj- 8½ 8¼- 9 9 - lf¼ 7½- 9 71/4- 7½ 7j¼- 9 9 - 9 1 8 t~~d~~~~;;::,: = ~ = 16 = 1f~c l~),~= l~ij 1~¾= 1~~ 1~ = 1~¼ lg = lg¼ 1~½= lg¾ 1fA: 1i~ 1i~= 1li,,( l g = 15  fj :::·:.::::  rn ~!  ~~~:~::ttik.~.~::::::::: .~~ = ~~ .. ·-~ Special tax, class 1.... .. . . . 2¾- 8¼ 2 Special tax, class 2.........  2¾- S¼  o:roeg~~\ tf:.~~a~~.~:::::: :::10~10! 6s, 1886 . . ......... . ........ 196 -108 ?o'1~eJ:~~Jli~:s6s~~~~.~:::: 1~g =1~g  i.1/o::::::::::::::::::::::: rn Fundin gact, 1866 ... . ...... 10  = Land Com., J . &J .. ...... .. 10 Thand Com., A. & 0 . . . . . . . . . 10 'h, 1888. .. . ... . . . . . . . . . . .. . . . 10 1 T!'n°n~~e1!dt~ ~1~~~~~::::::: 3g~S: 6s, new bonds . . . . . . . . . . . . . . 28¼6s, new series....... . ....... 25 V ir ginia Gs, old.. . . . . . . . . . . . . 25 -  gt~::: iffl:::::::::::::::: 6s, consolidated bonds . . . .  ~g = 74 &. ex-matured coup....... 54 6s,,eonsol. 2d series. . ..... 35 6s,.deferred................. 6½.D1st.ofColumbia3-65s. 1924 79)43-65s, registered ... ......... 7$¾-  ~g 10 10 10 10 Si% 30½ 30½ 27  2  8~   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  IJ¼- 9¼  1i~= lg~  =  :l(J  1~g  rn rn rn rn rn rn 35 = 4i¼  sf gg  = 24¼- 28¾ 24 - 29 24 - 28¼ 24 - 28 25 - 30 28 - 35  ~ = 74½ 74 54),{ 53½36 86 7¾ 7¼81¾ 79¾80.}s 80¾-  ~~ : 74 54 54¾41 41½7M 7 83½1 80¾83 80 ~g 74  fg 76½ 57 44½ 7% 81¾ 81¾  J 28 28 33  = -  3iij SO 30 83½  rn rn 1g }g  J¼: SO 30¼82½-  35~ 83 83 83½  = 56M39}27½84 84 -  fg = 80 78 59¼ 57%41½ 881/..r 8¼ 7 88 86½ 88 86½-  t75 =- t78 t77 56½- 57  40½- 41½ 7½- 7¾ 81 - 84¼ 84¾- 84¼  S~~= SO½30 30¼-  3}  :a~  J - J~ 35¼: SO 3~  S~¾ 82¾' 30½- 32½ 26½82¼ 30½- 32½ 26½81 20 - 30~ 28 -  = ~~ 78 - 78 78 58 55¾- 57¾ ,57¼89¼ ... . - ....... 8 6½- 7 6 87¼ 87¾- 88¼ 86¼87¼ 86¼- 87½ 86 fg 78  ~8 i½  J ANUARY FEB R'RY.  MARCH.  APRIL.  MAY.  JUNE.  JULY.  :1J -115 =lM  ' g~ Ig rn : g =- 1835  ½~  ~  sfit  35 = 26¾- 28  - 50 - 50 - t)  ro~=rJ x1g1=10i 110 -110 .xlOS -100 11t =lM ~~~ =1~~. ~ 1 = r8· :: : : 25 - 30 ... . - ... , 5<Y - 50 .... - . .. ~ 50' - 50 .. .. - ... • 10 - 10 . ... - . . .•.  i  st J  3i:,(26¾- 33½ SO 20 27 - 28 25  83½ ' 26:)-4- 27¾ 26¾- 33 28  28 - 28  - 80 ~8 80~~ -= 82½ ~~ ~ - ~~ ~~ 88 - 86 75 58¾ 58¼.. . .... . 6 5¼86¼ 84 86½ . . .. 1  DE3CR I P TION.  1~i =1~f 84 - 92  - 10 1g = 1~ .~~. = 13½ 1~~= 1~~ 1i 1~¼ 1r = 1~ 1r½= 1~~ lr = lr½ 1~½= 1~¼ 1g = 1~ h 1~½= li¼-_ ·2· ¾ 1 - 1¾ 1 - ·i.. 1 - S½ 2½- 3¼ 2¾- 2½ 2¼- 2' , 2jj= 3 4 - 4¼ 4 - 4½ 4 - 5 2 1 - 1½ 1 - 1 1 - 3 2½- 3 2¼- 2½ 2¼- 2½ ' 2~ 2½ 4 - 4½ S.½- 4 3 - ,f  1ol 1ol¼:10l½10l½=10l 10l =10~¾x1~r~10g 10~¼:10~1oi¼:10~~0: -10~10: 106½-108½ 105¾-108½ 109 -100 110 -110¾ x107 -110½ 107 -108½ 108 -110 rilO -113½ 108 l~g =1~5 1ig =1~~ =1~;¼ 1~g =1!8 1~ :igg 1&5 :lg~ lg~ =lgi =la~ 1 . = = = rn = ½8 = = = 1g = 10 - 10 10 - 10 10 - 10 10 - 10 ' 10 - 10 15 - 15 15 - 15 15 - 15 21:1 10 - HJ 10 - 10 10 - 10 10 - 40 ' 40 - 40 40 - 40 , 40 - 40 40 - 40 , 50 10 - 10 ' 10 - 10 10 - 10 10 - 40 , 40 - 40 40 - 40 40 - 40 40 - 40 50 10 - 10 , 10 - 10 , 10 - 10 10 - so · 10 - 10 15 - 15 15 - 15 15 - 15 5  ~g  rn~ jgg 117 -117 117 -117. 117 -117 25½- 28 25 - 28 104 -111  = :::~  gg¼  = - 31 - 31 - 25  = 58¾ 59 - 64¼ 55¼. . .. 81 - 88 30 6 5½- 7½ 7¾84 84 - 84 84½.... . . . . - ..... 84½-  ~888  srtt 3~ 21:l½- SO 29¼- SO .  is =zcf.  18 75 58½ 50½-30 25 7¾ 5½84% 85¼85 85¾-  21} 75 52¾ 25 6~ 85; . ~  I'ATE  -4 3  SEOURIT ES. 1881.  DESCRIPTION.   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  J.A.NUARY FEBR'RY.  MARCH.  APRIL.  JUNE.  Jt:!LY.  Auousr.  S.lilPT'BER. OCT0lc'l!:lt. Nov'11ER. DEC' BER.  - - - - - - - - - - - - - - - - - - - - - ----1-----1------ - - - ~ -- - - - - - - - -  44-  STA 'IE SEOURJTJ.ES. 1882-Concinded. JANUARY FEBR'RY.  eECURITlES. Virginia--6~. o ld ............ 6s, new bonds, 1866 . . . Os, new b o nds, 186i. ... . . 6s, CODS ,l. bondil , .. ,. .. . . . 6s. ex-matured cou PODS • • 6s, consol., 2d series... . . 6s,deferred 1Jo11ds .. . .... Dl:i· of Columbia-3·65s,1924 i~;f!t~~!1c?~::·: ... .. ::~:::· l<~llllding 5s, 189} .. ... 11::;l!tered·::::::::::::: .::·  AUGUST. SEPT'BER. OCTOBER. NOV'BER .  DEC'BER.  Low.High Low.Hig h Low.High Low.Hildt Low.High Low.High L o w.High Low.High Low.H.igh Low.High Low.High  :r:;.;:-~  3:5 34 34 9063 4~.  APRIL.  33 - 36 33 - 35 33 33 - 33 33 - 3.5 8-':l 33 - 33 33 - 35 33 89 - 90 80 - 90 85 - 64½ tiO - 61 60 - 66½ 61 .- 48_ 44 - 45 42 - 45 40 lo¼- 17¾ 14 - 15¾ 13 - 14¾ 14 107~-107½ 106~-108¾ 107 -107 108. ½~-=½&J½½gg j8g~io~=1()6%½8g 110 -110 110 -110 110  - 35 - 35 - 35 - 03 - 68 - 43 - 14¾ -108 =18~ -110  iio  =N8  I  -  MARCH.  35 35 35 95  -no  iio  -lio"  ..  U8  . ...  MAY.  JUNE.  35  33 33 - 85 ::13 - 35 85 - 87 62 - 64 42 - 43 13 - 13¾ .... - . . - ... . ....  26½- 34 00 -_ 31 30 - 31 80 - 82 61 - Hl 42 - 42 10 - 10 109 -109 J8g 110 -110  - ::::  =n&  mg U8  JULY.  30  -=-so - 353.5  35 -100.. 82 59 - 59 58 53 "io - ii"° 12 110 -110 =½½& 110 -110  ioo  ng  n& =U8  -  ~8'\  35 35 85 82 58 50 13 ... . :::: ....  3fJ - 3o 35 - 36 82 - 84 58½- 60 50 -_ 50 12½- IS¼ 108 -108 }8~ =mg 110 -110  •..• I  H3  Si - 35 34 - 35 34 - 35 80 - 81 56 - 57 48 - 50 12 - 13 107½-107;,-e  35 S5 35 HO _ 58½50 -_ 12 ....  3o 37 37 82 60½ 50 ~  12¾ -~  35 - 36 35 _ oo S5 • 3ff 82 _ 83 tH½- 62 50 _ 50 12 _ 12½ 108¾-lOS¾  =n&  - ,~--------~------,----......,...--------- --·SECURIT1E3.  JANUARY FEBR'RY.  MARCH.  AP IL.  JULY.  MAY.  AUGUST. SEPT'BEU.. 0CTOB'ER. NOV'BER. DEC'BER.  - - - - - - - -•- - - - - - - - 1 - - - -. 1 - - - -- l- - - - - - l·- - - -1- - - - 1 - - - - - 1 - - - - · I - - - L ow.High Low.High Low.High Low.High Low.High L ow.High L o w.High Low.High Lew.High Low.High Low.High J,,>w.High  - - - - - - - - - - -,-- - - - - - - -- - - - --  ~~  - - - - - - ----- - - - --- - - - - - - - - - ----· gi ~! ~h~= ~~½ ~§ = ~¼= t½: ~~~ ~¼= ~½  ~¼=  A~~:~i~~ti'i ~-~~-~: :.~~: Class H, 5;;, 1906 . .. . .. . .. . Cla.• s C, 43, 1906........ . . 6s, I0-2tJ, 1 ,oo .......... .. . 9 ds: ~~ 'is, vtcmp ,is &Littlel'l.ock  = ~ ~ = ~~½ ~~¼ ~~ : ~~¼ ~~ = ~ ~~ = 100 -100 100 -100 100 -lOl 101 -101 101 102¾ 1()2 103 011 - 100 83 - 85½ 83 - 8-l½ 82¾- 83 83 - 83 SJ : 81¼ 84¼= 8-l½ 8l - 82 102 -no 100 -101 101 -104 101 - 105 105 .,HJ7 108 - 113 107 -111  7s, new b ond;;, 1886 •. . . 7s, endorsed, 1886 .......... 7s,gold bonds, 1890 . .. . Louisia.na-7s, consol., 1914 7s, small bond3 .. .. Ex matured coupon.......  105 -106 105 -106 114 -114 72¼- 73½ 68 - 69 65 - 07  106 106 lH 73 68  ::;~i~~?.=o~~·i~t~:883.: : .: :. fls, 1886 ..........•...•... 6s, U387 ..•..••...•.•.. .. ... 6s,1883. . . ................ 6s,1889-1890 .... . ........... Asylum or Univ., 1892 .....  t58 =½i~ 105½-lOfl lOll½-107 107½-109¼' 110 -111. 112½- L14  106 107 ~'.'9 110 112  ~§½:  t½  t½  93 -100 99 - 9J 98 - 99 99 -100½ 100 -100 81 - 81½ 81½- 81½ 81 - 81½ 81¾- 82½ 82½- 88½ 107 -101 108 - 108 105 -108 105 -105 105 -105  A;!~l~~:1~t ls~~/ ~g35 -=!J50 l~40 :- ~g00 83i~ :- l~4g g~4i:l½-: 5>~5½ !543 :- 47i~ l&40 :- 52~~ !b : lJ §8 : i~ 35l& :- 50fig½ 10rn½=- Jg20 ~g20 -= Jg ~~ : ¼~ 40 - 44½ 25 - 50 22 20 - 22 ~::½rt;!:~: it it~:: .::· ~~ =~~¼ ~ = gt gg =!~¼ ii =g1 t& =1g ~J =i~ ~~ = i~ ~g =i& 38 =ig rn = rn 1i = rn 18 : rn cJ~' n~~f{c~!'.:~~\1JJL::::: 1M =168¼ 16i =16~~ 1&~ =1M¾ 1~g :1~~ 1~~ :16~½ 1M½=l~g 16ci :1~8 168 :16~ 16g :168 1oi :10i½ 10i½=10~¼ 10~½=10~~ Georgla-f\s, 1386 ........... 107 -107½ 103 -10-i 10-l -104 102 -102 102 -102 l03 -100 105 -106 102 -105 102 - 102 102 -102 102¼-103 103 -103 -108)4 -108¼ -114 - 73¼ - 68 6-i¾- 65  iM  :}AJ½ -lOi -107½ -100½ -110 -118  106¼-106),<,i 106)4-1U6½ 106,!4-lOB½ 1083,(-106½ 114 - 115 )114 -114½ 65 - 3 63 - 04¼ 62 - 09 60 - 60 53 - 00 58 - 58½  gr 106  10; 109 110 112  :mg½ ½A~ ~~~ -109¼ 100 -109 . ... .... - .. ...... 6s,gold C'lUOOn, 1887.... .. 107 -107 .. . . - .... .... 6s, loan, J811 .......... .. .. . 118 -110 .... - . . ... . .. 6s,l oan, 1892 . ... . ...... 119 -120 .... - ........  ,~1:i~\i~1~ii~:r~~.Uf~::: 1~ Hannibal & St. Jo., 1887 . .. 108  :½A~  New York-6s, gold, reg., '8i 107 -107  ~~~rii::a,  :}:g ;¼~ i  ta~'iif-1:::::::: 78i¾:- 78~¾  Consol., 43, 1910 ........ Sma.11 bonds .. . ..• ...... .. Ohio-6s, 1886 .. ..... . .. .. . .. Rhode lsland-6s. cp., 'i!S-99 South 1 ',trolin l-6s, act Mar.  75 - 77 107 -107 115 -116  107 107 109 110 112 ½AZ 109 110 110 112 ll3 1  :½A~ -WS -109x - 111 -112 -116  ~  lUB½-107 106½-107 118 -116½ 6-l¾- 65¾ 60 - 60 53 - 59  103½-107 10-l½-107 112½-113 64 - 65 60 - 60 57 - 57½  i5~~}i~½ 108¼-109¼. }5~¼=½Ai 1ig 106  107½-108 109 - 100 no - 111 lll¼- 112½ 113 -lli  1.09½-110~ llv.½-112¼ 112½- llS 115 -115  :m gz =m½ mg =rn~½  107 108 109 111  tii -109½ 109 -110 107 -110 107 -115 11.1 -116 114 11 1 ff' ·20 : = ~~;,; 80 - 31 29 - 82 30 - 31 30 - 31 Sil - 81% RO 155 - 155 155 - 155 155 -155 155 -155 155 -155 155 130 -130 130 -mo 130 - 130 130 -130 130 -130 130 155 -155 155 -15> 155 -155 155 - 155 155 -155 155 1 1 1 1 1 1 1 1 1 1 rg = r8 r8 : =~~ = r8 r& = r8 r& 10 - 10 10 - 10 10 - 11 10 - 10 10 .- 10 10 15 - 15 15 - 15 15 - 16 15 - 16 16 - 16 15 15 - 15 15 - 15 15 - 16 15 - 16 16 - 16 15 5 - o"½ 8½- 5 2¼- 8½ 3½- 8½ 3½- 3½ 3 O - 7 5 - 6 5½- 6 5 - 5 5 - 5 4 6 - 7 5 - 6 5½- 5¾ 5 - 5 4½- 5 4 6¼- 7 ½ 5 - 6;,t 5 - 6 4 - ;°) 4 - 4½ 4 6½- 7 5 - 6 5 - 5½ 4 - ~ 4 - 4'>2 4  =1~i ·s·o :  N~~-d~:gi'1~~~(is·:oici,' is5:i9e l~g 6s, old, A. & 0 .. . . . • .. 28 - 8') N. Ca.r. 1-tR., 1883-4-5 ..• .... lii5 -155 'N. Car. RR., 7s, coupon off 130 -130 N. Car. RR., A. & 0 ... 155 -155 7 1 1 lsrfo~¥~n ~-~ r8 : r8 Funding act, 1868-1898 .. 10 - 10 New bonds, J. & J., 1892-98 15 - 15 New bonds, A. & 0. . ....... 15 - 15 Chatham RR. . . . .. . 4 - 6 Spec'al tax, class 1, 1898-9 6¾- 8¾ Special tax, class 2 .. . .. 6½- 8~ 'l'o W'n N. C. 1:tR..... ... . . . 8 - 8¼ 'l'o Western RR............ 8½- 8½  n~  =m½ -107 -108 - 109½ -110½ - 118 1 = ~'. . . - .... - .... - ... - . ... - ....  106½-107 106~-107 114½-115 64J1- 65 60 - 6 l 58 - 58  ~  :  ~  109 110 1.10 118 115 1  sf . !8 : tY !6 =n½§6  r3  77½- 78¾ 75 - 78 106 -108 115 -116  - 11 ½ 109 -110½ -110 110 - 110 -lll 110 -110 -118 112 -113 -114 115 -115 1 1 1  =}AJ - 109 -10~ -108 -118 -115 1 = - SO - 160 -185  {5g 106  107 1'l8 109 112  -10-i -10.l -lH - 66 - 00 - 58  :½Ag -106 -107 -108 -110 -113  104 -104 104 -104 104 -104 104 -104 . . .. - .... .... .... 6f_\M- 70 70¼- 73¼ 62 - 05 65 - 66 59¼- 62¼ 62½- 65 1 1 11 1 1.06~~ =_10~~; ~ 1.06~-~ ~10.77··· ,,.,,, 107 - 107½ 107 -108 108 -108.½ 108 -109 109 -110 110 - 110 112 -112 112 -114  i5g =gi½ ±ig  =iAZ 109 - 109½ 109 -109 10 -108 108 -108 108 -108 108 -108 112 -113 lU -112 115 - 115 115 -115 1 1 1 1 ~Z = 28½- SO SO - SO 160 -160 160 -160 135 -185 135 -135 -mo 160 -160 lliO -'160 1 1 1 1 1 = r8 r8 = r8 = - 10 10 - 10 10 - 10 - 16 16 - 16 16 - 16 - 16 16 - 16 16 - 16 - 8½ S - 3½ 8½- 4 - 5 4 - 4 4 - 4 - 4½ 4 - 4 4 - 4 - 4½ 4 - 4 4 - 4 - 4½ 4 - 4 4 - 4  tAZ 10\) 108 10~ 112 115 1  =t~ - 109 -109 -109 -113 -115 1  160 185 160 1 r8 10 16 10 S  -160 -135 -160 1 = - 10 - 16 - 16 - 8,½  104 -105 104 -105 .... . ... 73¼- 75½ 67 - 71 04 - 67 1 1~0·'.~6- =_107~'. .. 107 109 110 1,1.3  r8  r8  4  r8  -  4  4 4 4 -  4 4 4  160 135 160 1 r8 10 16 16 S 4 4 4 4  g : g 73¼g : 79~~ 71}t :- 79½ ~ t : iij 1 : !ij 1 : 1 1 = i i : i i 79½- 'i'9¾ 77½- 78 77½- 78 78 - 78)8 78)4- 79 79  78 - 78¼ 75 - 78 108¼-109½ 116 - 116  75 - 77 109 -119 116 -116  78 - 7d 109 -109 116 -118  78 - 78 108 -109 116 -116  -108 -110 -111 -114  104½-105 1~½-105 112 -112 73}4- 75 7() - 71 66 - 06¼ 1 111 1·0~-7~ -107 .. 108 - 108 109 .-101> 110 - 111 114 -114  =  m mJf;  109 108 108 112 115 1  A6 §6 : g 80 §6 :- 80 §6 ~6 SO  t8 AZ  re  f&  :fig - 106 - 107 -108½ - 110 -114  10! 104 112 65 00 55  =U& -110 -110 -110 -115 -118 1 = ~8 - 80 -160 -185 -160 1 = - 10 - 16 - 16 - 3:½; - 4½ - 4 - 4 - 4  110 108 108 112 115 1  -110 - 108 -110 -114 -117 1 :g½ - 80½ -160 -135 -160 1  §& :  30 160 130 160 1  r8 10r& :- 10r8  =1  16 - 16 16 - 16 2½- 8½ 4 - 4½ 4 - 4½ 3 - S¼ 3 - 3½  g- g  - 80 76 - 76 76 - 76 76 - 76 76 - 77 78 - 79 106 -lOR½ :07 -107¼ 107 -107)4 107 -107¼ 107 -108½ 116 -116 116 - 116 116 -116 116 -117 116 -117  80½- 82½ 80 - 81 106 -108½ llti -117  2½- S 104 -lOi½ 38 - 40 86 - 37½ 36 - 87½ 40 - 44 88-38 313 - 88 86 -38 70 - 72 42 - 47 50 - 52 8 - 10 1 mg =½88~ ½ & =m 109 -110 110 -111 110 -111 111 -112 110½-111 111 ··112 110½-111 lll -112  2¼- 2¾ 10-i -104¾; 87 - 40 87 - 88)4 87 - l'l8½ 42¼- 43½ 36-88 36 - 38 So -38 60 - 70 81} - 47 54 - 55 8 - 10  11  ~qr;!~c~~~~ti~:11~~:::  1oi :10it: 10i½:1og~ 10~tt10~~ 1ot)i=l0i 10~~~10~½ 1~½:10~~ 10~½:1of Termessee-63, old, 1890-28. 42 - ..13½ 41 - 44¼ 40 - 42 41 - 42 89 - 39 1 ✓• 39 - 40½ 30 - 39 6s, new bds., 1892 -'£8-190\J. 41 - 48½ 41 - 44 40 - 40 40 - 41 39¼- 39}4 SO - 4 l SO - 88½ uo, new series. 1914 . • • . . . . 41 - 43½ 41 - 41 40 - 42 40 - 41 30 - 39)4 39 - 40 80 - 88½ Compromise S-4-5-6s, 1912 44½- 46)4 41 - 47¼' 42 - 45 45 - 46 4~ - 44 4i - 45¼ 41¼- 4'.'l¼ V\rginia-6~, 0ld . . . . .. • .. . . . . 35 - 36 34 - 85 SO - 38,½ 35 - 36 S:> - 40 38 - 3'3 8'3 - 36 6s, new bonds, 1866 . . . . . . 35 - SO 81 - 35 31 - 83½ 35 - 36 35 - 33 36 - 39 86 - 86 6s, new bonds, 1867.... . .. . 35 - 86 8-l - 35 80 - Sil½ 35 - 36 83 - 35 36 - 38 :,6 - 36 6s, cons ,1. bonds ..... . : .... 70 - 82½ 60 - 65 50 - 02 50 - 50 50 - 50 50 - 00 60 - 60 6s, ex-m'ltured coupons.. 53 - 61 50 - 51 40 - 53 36 - 30 37 - 83 86 - 40 83½- Sfl½ 6s, con sol , 2d series... . . . 47 - 50 48 - 43 45 - 50 50 - 50 48 - 4 l 48 - 48 48 - 48 6s, deferred bl)nds .. . .. . . 12½- 13 12 - 1.2)4 12 - 12 10 - lJ¼' 9 - 10 9 - 10 8 - 8 Dis. of Columbia-S·65s,1924 111 -111 - . . . . . .. . . .. - .. . . . .. .. .. - . .. ... .. - .. .. Rm<tll bnnds.... . . .. ....... - ........ - . . .. ... - . . . . . . . - . ....... - . ... - ........ - .. .. Regist ~red . .. . . . .. . . . . . ... - . . . . . .. - . . . . ...... .. .. . ... - .... . ... - . . . Fundirnz 5s, 1891 ... . . . . - . . . . . . . . - . . . . .. . . - . . .. . . .. .. - . .. . - .... . ... - .. Dn. Smnll.... . ... ... .. .. .. .... - . ... .. ... - ........ - ........ - .. .... .. - . . .. 'Do. Regi~tered ..... . . . . . ... - ... . . . . . - .... .. - ....... - .... .. .. - ........ - . .. .... . - . .  10~ .. . . ... .. .. 89 86 ·36 36 55 86 53 8 107 107 103 107 107 107  - S½ =10~~ 1036~ -103 - 38 - .... 86 - 86¼ SO - 86¼ - 41 41 - 43 - 37 36 -Si - 87 SI - 3ii - 87 86 -86 - 00 66 - iO - 87 39 - 41½ - 50 50 - 50 - 8½ 8 - 8 -10'3 108 -108 108 =mt -108 108 -109 -110 10'3 -110 -107 103 -110 -107 108 -110  3 - 3 103 -104 ::,5 - ~ 8 85 - SB f' 5 - 86 87¼- 89¼ 88-38 86 - 88 3G -88 07 - 70 41 - 43 50 - 50 6 - 8  m  110 111 111 111  =m:u -11·~:Ji' -112¾ -11 1 -112¼  1884. SECURITI::llS,  JANUARY FEsn' aY.  Mrci::~~1's~i~~J'.~~· : :· ... Mlssouri-6s, due 1886... . 6s ttl87 ... . .•• . ..... .. 6s, 1888.. . ................ 6s, 1889-1890 . ...... ......... Asylum or Univ .• 1892 ..... Funding !Jonds, 1894-95 ... Hann•bal & St. Jo., 1886 ... Hannibal & St. J o., 1887 . . .  MAY.  '1'uN"E.  JuLY.  AuousT. lsEPT'BER. OCTOBER. , Nov'BER. DEo'BER. 1  50 - RO 8t - 81 97½- 98 !jQ - 8'1 104 -105 10 - 11 18 - 20 1,-{ - 20 16 - 18 16 - 18 8½ · 9 1'13 -108 102½-103½ toi - lo::I½ 110 -111½ 75 - 75 69 - 70  l~g½=l~~ 103 -104 lOi -107 105 -108 lu6 - lll 100 -111 117 - L17 110 -110 110 -110  io~~l~t ,~8~~~trt:.'.~'. m=½8~~ 8  Ni:. 6s, loan, 1891 . .......... .. .. 113 6s, loan, 1892 ... . .... , . 115 6s, loan, 1893 . ..•......•.... 1L7 No. Ca.rolina.-6s, old, '86-'98 20 6s, old, A. & 0 ... . .. .. .. 29 N. Cit.r. 1-tR., 1883-4-5 ... . ... 160 N. Car. RR., 7s, coupon off 135 N. Car. RR., A. & 0 . ... 160 N. Ca.r. RR., 7s, coup:m oil 135   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  APRIL.  Low.High Low.High Low.High Low.H igh Low.High L ow.High Low.High Low.High Lcw.Jiigh Low.High Low.High J,l)w.Hi~  -----------1  Alabama.-Cl. A, Sto 5, moo. Class A,small ............. Class H, 5s, 1906 .. Cla• s C, 4s, 19U6 . . . . .. 6s, 10-20, l HOO . . . . . . . .... ).rkansas-6s, fd., 1899-1909 7s, L. R. & Ft. S. issue. .. 'is, "1.emp 1is&LittleHock 7s,L. R. P. B. & N. 0 .. . . . 7s, Miss. O. & R.H..... . . 7s, Ark. Central RR .. ..... Georgia-6s, lli86 ........... 7s,newbonds, 1886 .... . .. 7s, endorsed, 1886 .......... 7s, gold bonds, 1890 ... .. Loulsiana-7s, conso1 .. 1914. 7s, small bonds .. . . . .  MAacH. .  -114 -116 -117 - 20 - 20 -16') -135 -160 -185  HO - 80¼ 80 - t!l 98~-100 80 - 80½ 104 - 105 11 - 12½ 20 - ll5 20 - 25 11! - 24 18 - 24¾ 8 - 9¼ xl00-102½ 104 -105 lOt -105 lll½-112½ 77 - 78 72 - 72  l~~  7½.... .. . . .... . .. . .... .... .. .... 65\4. -  1rl 10! 10;:, 106 108 109 116 108 10:l  =1?J -106½ -107½ - 109½ - 111 - 115 -118 -110½ -110½  110-ll(i ... ,1~8 105 -105 100 106 -108½ 100 1.08 - 10:3½ 103 llll -110 105 112 - 114 107 115 -118 111 108 -109 108 108 -109 108  =18~ -113 -115 -119 - 32¼ - 31½ -16() - 135 -160 -185  18~ 112 115 117 80 SO lt>O 135 160 135  =½88 -113 -115 -120 - 82½ - 82½ -160 -135 -160 - 135  ½83 =t~ 112 -112 115 - 115 117 -117 27½- 30 27½- SO 160 -160 135 -135 160 - 160 135 -135  X7  1~~  1  10-i 105 107 !'.'9 111 117 110 110  =1~§½ -10~ -101 - 108 - 110 - 111 -11'7 -110 -110  103 107 108 110 112 117 110 110  =11i 1~~ =1~J -105,½b'l5½-f01\ -107 107 - ,OS -109 108 -109½ -11 1 110 -111 -112 112 -114 -118 118 -118 -110¼ 110 -110½ -110½ 110 -110½  ½83 118 115 117 29 20 16!> 185 160 135  =½8~ -ll3 -ll5 -118 - ~O - 30 -160 -135 -160 - 185  113 115 117 30 30 160 135 160 185  -115 -118 - 30 - 30 -1'1 0 -rn5 -160 -135  mi :½88 i~ -114 112  115 117 30 30 160 185 160 135  Si¼ 78¾- 79 78½- 70½ 78 .. .. 711 - 80 73 - 71:1 78 . ... 98 - 1:19 98 - 99 1:18 80½ 78 - 78½ ·78 - 78 78 100 -100 100 -100 100 10 7½- 7½ 4 - 8 2 .... 7 - 9 12½- 22 5 .... 7 - 9 ti½- 13 5 . . .. 7 - 9 12~- 20 5 . .. . 7 - g 12½- 20 5 .... 1 - 2½ 5 - 8 3 1 ... . 101 -102 100 -100 9t! .. ' lu2 -102l-2 102 -102 102 .... 110?- -102½ 102 -102 10~ .... ]109 -109½ 109 -1 ,9½ 10~ 68½ 67 = 6 ~ 16( = 6 _~¼ 6 8 . . .. 62 6 6 I 63  80 - 82 81 - SL 1()2 -102 82,½i- 82¼ 100 -104 5 - H 9 - 12½ 9 - H½ 8 - 12½ 8 - 12½ 4 - 5 100 -104 100 - 106½ 100 -106½ 112 -113 70½- 77 65 - ,2  81½- 82 81¾- 82 81 - 81 dl - 8 t 100½-lOl 102 -10'½ 80 - 81¾ 81½- 82¼ 105 -105 104 -105 12 - 16 12 - 15)4 20 - 20 15 - 15 18 - 20 15 - 16 18 - 20 12 - 15 18 - 18 12 - 13 9 - I! 5 - 6 1{'13 - 103 103 -104 103 -105½ 105½-lvO 105 -105¼ 105½-106 114¼;-115 jll3 -113½ 73½- 77~ ·75 70 - 72 71 - ,2  82¼•••• . ... 80X?-  J  18f 28  28 160 135 160 13-3  79 - W¼ 79 78 - 79 1 78 98 - 99 98 75 - 79 ,8 100 - 104 102 1 - 2 2 10 - 15 10 10 - 15 10 10 - 12 10 10 - 12 10 4 - 5 S 99 - !lO½ 100 102 - lO t½ 103 10~ - 102 103 107 -107 108 70 - 78 71 65 - 70 67  - 81 -80  =  rs~  81½- 88 80 - 81  1~ =1g~ij -104 104 -105 2 2 - 3 10 10 - 10 - 10 10 - 10 - 10 10 - 10 - 10 10 - 10 - 4 S - 4 -100 101 - 101 - 104 1•'4 -105 -104 104 -105 -HO 110½-111½ - 74½' 74½- 75 -70 7Cl -70 -64 63 -64 =1rZ 1~6 =1~~ 1¥i =1~ 115 =1~ 1?6 -110 llO -117 -lOJ½ 102 -10~¾ 102½-102½ 102½-103½ 103 -103)1 [03½-104 -105 105½-106 , 105 -105)4 105 - 10 I½ 106 -106 !.< l06 - LOB½ -105½ 106 -107¾ 106 - 106½ lOU½,'-lOi½ 107 -107),, l07½- 107¼ -108 l'lll½- IOS½ 108 -108 10d - 109 108 - 109 , 09 -110 - lU 107 -108 108 - 109 109 - lli 109 -110 10 - tlO -116 115 -110 115 -116 115 -115 115 - 115 15 -115 - 108 108 -109 108 -108 108 -108 108 -110 L•I -110 - 108 1013 -109 108 -108 108 -10~ 108 -110 1, 10 - 110 - 106 [06 -106 J8g =½8~ =½8~ ~mg ½&~ -106 l06 -106 -113 113 -113 112 -115 111 -112 111 - 111 111 -112 -ll5 115 - 115 115 -115 115 -115 115 -115 115 -115 -117 l17 -117 117 - 117 117 -117 117 -117 117 -117 - 29 20 - 29 29 - 29 2~ - 29 29 -30 30-82¼ - 29 29 - 29 .!9 - 29 23 · 29 29 - 30 80-32½ - 160 160 -160 160 - 160 160 -160 160 -160 l60 - 160 - 185 135 -135 135 -135 135 -135 185 -135 135 - 185 -160 160 -160 1110 -160 160 -160 160 -160 160 -160 -135 135 -185 185 -185 135 -135 185 -135 185 -135 y  111 115 117  - 79 - 7\l - 93 - 7S -100 - 3 - 8½ - ll - 9½ - 7¾ - 3 -100 -10~ -102 -110 - 70 - 65  _  18~  ,._,  mg  mi  -  45  STATE SEOURITJES. IS84-ConcJuded. ·•  SECORlTIE3.  J.ANU.Ail.Y FE»R'RY. MARCH.  APRIL  MAY.  JUNE.  ----  JULY.  ----  AUGUST. SEPT'BER. OCTOBER. NOV'BER. DEC':e:;i;a  Low.High Low.High Low.High Low.Ilillh Low.High Low.High. Low.High Low.Hi~ North Carolina--Continued. HJ - 12¼ 10 10 - 12 Funding act. 1866-1900 ... JO - 10 0 - 0 10 - 10 10 - 12 10 - 12¼ 10 Funding act, 1868-1898 10 - 10 9 - 9 10 - 10 16 - 19½ 18 18 - HI New bonds, J. & J., ISW-98 16 - 16 10 - 11> 16 - 16 l() - 16 16 - 19¼ lti 18 - 19 16 - 16 New bonds, A. & O . . . . .... 16 - 16 1 3 3 3 3 1 - 2 Chatham RR.... .. 2½2½- 2½ 2¼l - 2 l 3 - 4 Special tax, class 1, 1898-9 2½2 - 4 2~- 3 2 - 3½ 1 - 2 1 8 - 3 Special tax, class 2 ... 2¼2 - 3 1 'l'o W'n N. c. HR ........... 2½- 3 J - 2 2½- 8 2¼- 3 2½3 - 3 1 'l'o Western RR ............ l - 2 8 2½- 3 8 - 3 l - 2 1 To Wil. C. & Ru. RR ....... ~= 3 2½- 8 ~= 2½- 3 1 - 2 1 'ro W'n & Tar. RR ......... 2½- 8 2½- 2¼ 2½- 3 10'.:l 6s, 1919 ....... . .... . ........ .... ·s2 80 Consol., 4~. 1910 . . . . . . .. - 83½ - 84 81 - 82 78 - 82½ .... Small bonds . . . . •........ 80½- 81 80 - 81 107 -107¼ Ohio-6s, 1886 . .... . ... . ... 106½-107 106 -107¼ 107 -107¼ 1:20 -120 ii5 Rhode lsland-6s cp., '1!8-99 116 -117 120 -122 120 -120 South r'arolin 't-6s,act "1ar. 1 23, 1869, non-funa., 1888 . .. 3 - 3½ 2½- 3½ 1½- 2 2½- 2½ :&½- 8 105 -1C!'i)4 105)4-106 -106 105 101 -102 105 -105 105 Brown consol., 6s, 1893 .... 42 - 43iki 86 - 41¼ 35 Tennessee-6~, old, 1890-2-8 37 - 87~ 38 - 31}¼ 41 - 43 877/4- 381,ji 40¾- 48 6s, new bds., 1892-'28-190(). 87 - 37 42 - 42ij 86 - 41¼{ 35 d6 - 41½ 35 6s, new series. 1914 . . . . . . 37 - 37½ 38 - 38¾ 401)1.- 42½ 42 - 42 86 - 47 41 Compromise 8-4-5-6s, 1912 41 - 48¼ 48¾- -44½ 46½- 48¾ 48½- 49 40 - 40 40 - 40 40 - 40 40 40 - 40 Virginia-6;, old . . . . . . ... 38 - 40 4!) - 40 40 - 40 40 - 40 40 40 - 40 3::l - 40 6s, new bonds, 1866 . .. 40 40 40 40 40 40 40 40 - 40 6s, new bonds, 1867...... 38 - 40 60 - 60 60 - 60 55 - tl0 60 - 60 55 6s, consul. bonds . .......... 60 - 65 87 - 40½ 37 87½- 41 40½- 40½ 40¾- 41 6s, ex-matured coupons •. 87 - 42 52 - 52 52 - 53 50 - 53 50 54 - 54 6s, consol., 2d series ...... 54 - 54 6 - 6 4 7 - 7 ti½- 7 7½- 8 6s, deferred bonds ........ 8 - 9 Dis. of Colum bia-8·65s,1924 113 -llSij xll2-112~ 118¼--113¾ 118¾- 114 111 -113½ 110 Small bonds. • . . . ...... 118 -118 xl12-1H! 113½-ll~ 113)a-114 111 -118½ 110 111 113¼-114 110 -118½ Registered . . . . ..•..•••.••. lll½-!18 112 -112¼ 118½-11 ~ 112 -112 112 -112 uo Funding 5s, 189!} ..•• . •. . 110 -110 111 -111 112 -112 112 -112 110 Do. Small .... .. ..•...•..•. 110 -110 111 -111 Do. Registered ..•• . .•..•. 110 -110 111 -111 111¼-112 lll3 -112 112 -112 110  ~~  ·s"i - s2½  !S  - ss·· ·ss  ·~¼= ~¾ ·so  {gz¼j~z¼  nutn~  - 9 - 9  Low.High Low.Hllth L'lW.H 1gh Low.Rig h  ----  9 8 - 10 10 - 10 9 10 - 10 0 - 9 8 - 10 10 - 10 10 - 10 18 - 18 18 - 18 - 1M 18 - 18 18 - 18 - 18 18 - 18 18 - 18 18 - 18 18 - 18 ~ 2 2 l - 1 2 2 2 - 2 2½ 2½ 2½ l 2 3 - 3½ 3 - 4 3 - 4 2½- 8½ 2¼- 8 2 1 8 - 3 8 - 4 3 - 3 8¼2½- 8 8 - 8 8 - 3 3 - 4 1 - 2 8¼2½- 8 8 8 - 3 3 - 4 2 1 3 8 2¼- 3 8 8 - 4 3 1 - 2 8½- 3½ 8 - 3 - l 2~- 3 3 - 4 3 - 3 8 - 3 2 - 8 - 1 1 - 2 1068~--107H¼ 107½-108 104 -106 105 -105½ 105¼-106½ -105 104 -105¼ 75 - 82 81 - 82 82 - 82 78½- 80 79 - 82 - 82 82½- 83 78 78 - 80 80 - 80 80 - 80 78 - 80 80 - 80 - .... 78 -- 105 ~Oi'> -105¾ 105 -105¼ 105¼-105¼ 105¼;-105½ 105 -108 .. 104 -115 112 - 11;:; 112 -112 110 -112 110 -112 110 -112 112 -120 -  10 10 18 18 - 1 - 1 - 1 l - l  --1051  9 0 18 18  9 - 10 9 - 11) 15 - 18 15 .. 18  m  2 - 2 1 - 2¼ 2 - 2 2 - 2 1½- 2 103 -108~ 104 -104 105 -106 lOtl -106)4 106½-107 39½- 39 89½- 39¾ 89½- 40½ 38½- 40 41 - 41~ = ~½ i~~ 39¼- 39½ 39 - 89½ H7½- 39 ss - 38½ 41 - 41 88 - 88½ 41 - 41½ - 38 86½- 38¼ 89¼- 39½ 39 - 39½ 87½- 39 43 - 43¾ 43 - 44 - 44 45½- 47 42 - 42~ 43!,ii- 44½ 37 - 40 38 - 40 87 - 10 - 40 37 - 40 83 - 85 87 - 40 87 - 40 87 - 37 38 - 40 :JS - 35 85 - 40 - 40 37 - 40 37 - 40 37 - 87 38 - 40 35 - 40 - 40 38 - 35 45 - 50 50 - 50 50 - 50 50 - 55 50 - 50 - 55 45 - 50 36 - 87 85 - 36 82 - 86 87 - 39½ 38 - 39¼, - 37 80 - 84 40 - 40 40 - 40 54 - 55 40 - 40 4:> - 40 40 - 40 - 50 4 - 6 - 4 4 - 5 5 - 6 4 - 5¼ 4 - 6¾ 4 - 5 -110 106 -107 108 -108½ 109½-110 109 -110 109 -110 110 -113~ 112 -113 -110 106 -107 107 -108½ 109¾-110 109 -110 .... 112 -113 -110 106 -107 107 -108½ 109¾-110 109 -110 -110 105 -107 108 -109 109 -109½ 109 -109½ ioo =1io .. 110 -110 -110 105 -107 108 - 109 109 -109½ 100 -109½ . ... - ... 110 -110 110 -110 -110 105 -107 108 -109 109 -109½ 109 -109½ . 1 - J 100 -103  ra~~  ~~¾= 1~  ....  ...  ....  lSSa. 8ECURITIE3,  JANUARY FEBR'HY.  MARCH.  APRIL.  MAY.  JUNE.  JULY.  AUGUST. SEPT'BER.IOCTOBER. Nov'BER. DEC'BER.  Low.Hig-b Low.High Low. High Low.High Low.High Low.High Low.High Low.High Lcw.Jligh Low.High Low.High J,,iw .High  ----------1  Alabama-Cl. A, 8 to 5, 1906. Class A, small .. . . ... . ... . . Class K, 5s, 1906 .. . . . . . . Cla•s C, 4s, 1906. . . . . . . . . . 6s, 10-20, 1900 .......... . .. . A rkansas-6s, fd., 1890-1909 7s, L. R. & Ft. S. issue.. . . 7,, "1emphis&LittleHock 7s,L. R. P. B . & N. 0 ....•. 7s, Miss. O. & R.R........ 7s, Ark. Central RR........ Georgia-6s, 1886 . ......•.... 7s,newbonds, 1886 ....•... 7s, endorsed, 1886 .......... 7s. gold bonds, 1 90... . . . ,ouisiana-7s, consoJ., 1914  ;;~:1J,Sh~xii:is:::·::::::·  81½- 86¼ 80 - 83 99 -101 81 - 84% 104 -105 3 - 5 10 - 22 10 - 19 10 - 20 111 - 21½ 2 - 4.½ 101 -101½ 101 -103 101 -103 109½-112 73 - 75  ~6½- 87 87 - 88 86 - 8S 84 - 85 85 - 85 85 - 86 102 -102 102 -103 102 -10~ 84½- 85¾ 85 - 86 84 - 85 105 -105 105 -107 106 -106 8 - 6 4 - 5½ 3 - 4 12½- 19 15 - 16 12 - 12 12½- 16 15 - 15¼ 12 - 12 12½- 17 14 - 15¼ 12 - 12 12½- 18 14 - 15¾ 12 - 12 3 - 4¼ 4 - 4 3 - 8 100 -101 l@0½-100½ l00½-101 102½-103¼ 103½-104 104¼-104~ 102½-103¾ 103½-103½ l'l4!4-l04½ 110>!!-112 112 -112 110 -110½ 74 - 76 75 - 75 74 - 74  87 - 90¼ 90 86 - 86 87 102 -104 102 85 - 87 86 106 -106 l.Otl 3 - 3 8 10 - 10 10 10 - 10 10 10 - 10 10 10 - 12 10 2 - 2 2 101 -101 102 104½-101;¾ J.05 104½-104¾ 105 110 -114 112 74 - 75 74  - 91 89½- 92½ 93 - 93¼ 93 - 93½ - 89 8v - 91 91 - 1:12 9~ - \13 -104 100 -104 102 -104 101 -105 - 87 85 - 88 90 - 91~ 91 - 91½ -107 104 -105 105 -106 105 -106 - 8 3 - 5 6 - 7¾ 6 - 6 - 18 10 - 15 13 - 15 12½- 17 - 12 10 - 12½ 18 - 15 12½- 16 - 12 10 - 18 18 - 15 12½- 15 - 12 10 - 15 13 - 15 12½- 15 - 3 a 3½ 4 7 5½- 6 -108 102 -103 102 -103 102 -108 -105½ 102 -102 102½-102½ 103 -103 -105¼ 10?- -102 102½-102½ 103 -103 -113½ 111 -111 111 -112½ 112½-113 - 75 7::i - 79 77 - 80 78 - 80  ·:io ::: 72°. ·70 : 72 .. ·72 : ,iz .. ·70 - 72 .. ·70 : 12 ·70 : ff. ·7'i : 1s .. ·1s =75·· M~t:::;~is~ f~oJ'.~~ ::::::· 1~8 =1~½ 1~~ =1~~ 1t¼:1!~ 1~~ :ii~ 18~ :1~ l~i :11~ 1i~½:1t½ 11~ =1~  M!ssouri-6s, due 1886... . 101 -102 101½-102 6s, 1887 .....•••..•......... . 103 -104 103½-104¾ 6s, 1888.. . ...... . ..... . . . 10.1 -104½ 1'!4½-105 6s, 1889-1890 .............. 105½-t07 107 -lO'i½ Asylum or Univ., 1892 ..... 107 -110 110- -110 Funding llonds, 1894-95 ... 112 -113 113 -118 Hannib11l & St. Jo., 1886 ... 110 -117 115 -117 Hannibal & St. Jo., 1887 .. 115 -117 115 -117 New York-6s, gold, reg., '81106 - 106½ 106 -107 tis, gold couuon, 1887...... 106 -lOtl½ lOtl -107 6s, loan, 1891 ........ . ....•. 112¼-113 118 -118 6s, loan, 1892 . . .. .... .. 115 -117 115 -115 6s, loan, 1893 .............. . 117 -120 117 -117 No. C;_1rolina-6s, uld, '86-'98 30 - 30 80 - ~0 6s, old, A.& 0 ...... .. 30 - 30 30 - 80 N. Car. RR., 1883-4-5 .. . .... 160 -165 lt!O -165 N. Car. RR., 7s, coupon off 185 -135 185 -185 N . Car. RR., A. & 0 . .. . 160 -165 !HO -165 N . Car. RR., 7s, coupon off 130 -135 135 -135 Funding act. 1866-1900 . . . 10 - lU 10 - 10 Fundrng act, 1868-1898 . . 10 - 10 10 - 10 New bonds, J. & J ., 1892-98 18 - 18 18 - 18 New bonds, A. & 0......... 18 - 18 18 - 18 Chatham RR. ... .. ... 2 - 2½ 2½- 8 ~g:~::lf!~:~I:::J· _18~~~~ 'l'o W'n N. C. RR...........  ~½=  2½-  ~  2½  ~½= 4½-  ~~  4½  102 -103½ 104½-105½ 105½-106 108 -109 110 -112¼ 118 -115 116 -120 116 -120 107 -107 107 -107 113 -113 115 -115 117 -117 30 - 80 30 - 30 160 -1110 135 -l!l5 160 -160 135 -135 10 - 10 10 - 10 18 - 19 18 - 18 2¼- 2¼ 8%=  .~~  103½ 104 105½-106 106 -107 109 -110 112½-116 115 -120 104½-123 104½-128 105½-lOo l0f>¾-106 113 -118 115 -115 117 -117 30 - 80 30 - 80 160 -160 135 -135 160 -160 135 -185 10 - 10 10 - 10 18 - 18 18 - 18 2½- 2½  103 -104 104 -104¾ 101½-102 104½-106 106 -107½ 104 -104 106 -106½ 10·7 -109 105 -105 110 -112 111 -118 108 -110 113 -115 115 -117 113 -113 118 -120 120 -122 117 -118 103 -105 104 -104½ 102 -102 103 -105 104 -104½ 102 -102 105 -105½ 105½-105½ 103 -104 105 -105½ 105½-105½ 103 -104 113 -113 118 -118 110 -113 115 -115 115 -115 113 -1!5 117 -117 117 -117 115 -117 30 - 31 30 - 80 SO - 80 80 - 81 80 - 80 30 - 80 lo0 -160 160 -160 160 -160 135 -135 135 -135 135 -135 160 -160 160 -160 160 -160 135 -135 135 -135 135 -185 lu - 11 10 - 11 10 - IO 10 - 11 10 - 11 10 - 10 18 - 18 18 - 18 18 - 20 18 - 18 lti - 18 18 - 20 2¼- 2½ 2½- 2½ 2¼- 2½  ~¼= .~ .. ·-~  .~~  i~½=  ~~  98½- 95½ 95½-100 98 - 95 95½- 98 104 -105 105 -106 91½- 93 !l3 - 95 106 -106 106 -107 9 - 9½ 7 - 9 12½- 20 15 - lR 12½- 16 15 - 15 12½- 17 15 - 15 12½- 19 15 - 15 7 - 8 8 8 102 -102 102 -102 103 -108½ 108 -108 108 -lOSJ./4 103 -103 111 -114!4 112 -118 80 - 81 83 - 86  ~ =Jt  1~ =11~ ii2 :115 .. 101½-102½ 102 -102 102½-102¾ 104 -104 1104 -104 104° -105 11)5 -106 106 -106¾ 107 -107½ 108 -109½ 109 -l0lcl 108 -109½ 112 -113 112 -118 118 -113½ 118 -118 118 -118 118 -118½ 102 -102½ 102 -103 103¾-104 102 -102½ 102 -103 108¾-104 103½-104 103½-103½ 103½-104 108½-104 103½-103½ 103½-104 110 -112 110 -110 110 -110 114 -115 115 -115 115 -115 117 -11.7 117 -117 117 -117 80 - 30 80 - 80 80 - 80 l.10 - 80 80 - 30 30 - 80 165 -165 165 -165 165 -165 135 -185 135 -135 135 -135 165 -165 ltl5 -165 165 -165 13:'> -185 135 -135 135 -135 10 - 10 10 - 10 10 - 10 10 - 1U 10 - 10 10 - 10 20 - 21 20 - 20 20 - 20 20 - 21 20 - 20 20 - 20 2¼- 2½ 2½- 2½ 3 - 8  .~~  = -~-· ..  100 100 104 96 107 6 15 15 15 15 ti  102 ,oq 103 11!  -101 -101 -1P8 - 97 -107 - (I - 15 - 15 - 15 - 15 - 8 -102 -10S½ -108½ -112¼  t-5 - 87  i~ : ~~ ~f : ~~½  1!2 :1ff · ti2 :1ff · 102½-103 102¾-108 105 -105¼ 105 -106 107 -107½ 107 -108 109 -109½ 109 -109 113½-113½ 113 -118½ 118 -118½ 118 -118½ 104 -104 104 -105 104 -104 104 -105 104 -106 108 -106 104 -106 105 -106 112 -113½ 113¼-118¼ 115 -117 119 -122 117 -120 121¾-124 30 - 80 80 - 30 30 - 80 30 - 30 165 -165 165 -165 135 -135 135 -135 165 -165 165 -165 135 -135 185 -135 10 - 10 10 - 10 10 - 10 10 - 10 20 - 20 20 - 20 ~o - 20 20 - 20 4½- 6½ 4 7  --~½: .~ ..  .. ~_½= .~ .. .. = -·~ :¾= .~ .. -·~¾= --~ : .:~ --~½: .:~ . ... . ... ...... - .. . . ... - ... . .. . . - .. ... . .. - . . .. .. .. - . . ...... - ........ - ..... . .. - ... .  ~:g;rt\rHhiii:::·:::: ~~= ~~ !~= !~ ··· · - :::: .. :: = :::: :::: = :::: :::: = :::: :::: = :::: :::: : :::: : ::: = :: : : :::: :::: :::: : :::: :::: : :::: J~~ ~~~-~ ~,~~. -~~·:::::::: 1og~=10~½ 106~116½ iiO¾-lii .. iOS =108¼ i08¼=I00¾ il.O -1iO~ iiO;i~ri~.f. ii2 =1i8ij i18 :1i4¼ ii"i =1i4"" ii~i~=1i5"' ii'4°¾:li5~  Consol., 4s, 1910 . . . . . . . . 81 - 83½ 8ma.ll bonds . . . . . • . . • . . . . . 80 - 81 6 ½~&½=i~~½ South rarolina-6s, act Mar. ~3, 1869,non-funu., 18S8... 2 - 2¾ Brown consol., 6s, 1893 .... 10-i½-107 Tennessee-6~. old, 1890-2-8 42 - 43 Os, new bds., 1892-'28-190u. 41¾- 48  it~~ fs1~~:~s:cii.;·,iJ~99 8  i~~i~o:f~i s-1~E~6ii: i1H2 Virginia-63, old . . . . . . . . . . . . 6s. new bonds, 1866 . . . . 6s, new bonds, 1867. ... . . 6s, cons1J). bonds........... 6s, ex-matured coupons.. 6s, con sol., 2d series... . ... 6s, deferred bonds.........  83 - 84 81 - 82  85½- 86¾ 86 - Bf\¾ 86½- ti1¾ 87½- 88½ 86 - 87¾ 81 - 88½ 88½- 88½ 88¼- 89½ 90 - 90½ 90½- 91½ 88 - 84 6.'l - 84 83 - 85 86 - 86~ 84 - 85 85 - 87 84 - 86 86 - 87 87 - 89 89 - 90  ½~~½=½~i½ ½~~=m¾ ½~8  !~¾: ~78 it,= t~¼ tI¼= ~g 37 - 88 8~ - 40 88 - 89 87 87 50 37 50 4½-  38 38 50 88 50 5½  :{~g ½~~  =½~  :&½- 4 8 - 3¼ 8 - 3½ 3 - 8 106 -107 107 -107 107 -107½ 107 -108 43 - 46½ 47 - 48½ 46½- 47¼ 42½- 47 48 - 46 47 - 48 46½- 47¼ 42 - 47 38 38 65 89 50 4½-  40 40 70 41½ 50 6½  38 88 72 42 50 5½-  :<9 89 80 45 50  gg½: g~¾ 5~89 =- i~!l0 39 - SP  SI! 89 72 40 50 .6½ 4  -  39 39 75 45 50 4½  89 89 80 47 50 4½-  39 S9 80 50 50 5½  m  =mg  {gg  =mg  i23 :½~  mg =~t  }t½=128  ~~¾= 40 40 40 80 50½50 5 -  t~~  tI¾= 40 4.0 40 80 80 51½ 45 50 50 5½ 5½-  40 40 40  glt 40 40 40 80 47 50 6  tr~= 40 4n 40 8:> 47 50 6 -  :}gg  i;;~ ~l~= ~t gg40 -= g~½ ~8½: gf½ 40 40 - 40 40 40 - 45  40 40 80 49 50 10  40 40 80 48 50 II  -  40 40 80  40 40 80 49½ 47 50 50 10¾ 12  -  40 40 80 48 52½ 13¼  :ill  Dfs~~8f lj~f~~~i,;.:..:3:a5ii,io2-1 iis :1i3½ iiz½=liS .. iis =1is'. iis =1is'" iis :1is"" iis :1i5ij i15 :116¼ ii4 =1i6 .. ii4 :1i4"" 1i~ Funding 5s, 1899 ... 109 -110¼ 110 -110 110 -110 110 -110 110 -110 110 -110 109 -110 110 -110 110 -110 110 -110   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  ½t  ½~g  :}gg  8 - 8¼ 8 - 3% 8¼- 3¾ 8¼- S¾ 4½- 6½ 4½- 5½ 4 - 5 108 -108½ 106 -107 107 -108 108 -109¼ 108½-109¼ 109 -109 109 -109 42¾- 47% 47 - 47¾ 47½- 48¼ 47½- 48¾ 5(1 ~ - 52 50 - 52¼ 51½- 52½ 4.2¾- 47¾ 47 - 47!1:( 47½- 48¼ 47½'- 41'¾ 50 - 52 50½- 52¼ 51½- 52½ 40 - 45 40 - 45 80 - 85 52 - 55 54 - 55 11 - 12¼  ~½= 42 42 42 80 50 55 10 -  :J~ 1m 110  1i~ 110 ~110  glij iS  4:{ 48 80 52½ 60 18  :1½~½ -110  RAILROADS AND THEIR SECURITIES. PRICES OF STOCKS AND  BONDS,  1881-85.  Railroad construction in the United States in the year 1885 showed a further decrease in mileage compared with the preceding year, as the total of new roa.cl constructed was only about 3,100 miles, against 3,977 in 1884, 6,753 miles in 1883 and 11,596 in 1882. In 1882 was reached the culmination of that period of railroad exp.ansion which set in with the general tide of buoyancy throughout the country after the resumption of specie payments on January l, 1879. In the year 1856 the number of miles built reached 3,647, the largest number then recorded for any single year. From that date forward t9 the close of the civH war in 1865, railroad 1>uilding was held in check, and ran far behind the wants of the country, the number of miles constructed in 1864 being only 738. After the close of the war a new impetus was given to this branch of industry, which went ahead with a steady increase every year from 1865 to 1871, and in the year last named the maximum was reached of 7,379 miles. From this point a reaction commenced, which terminated in the panic of 1873, and railroad construction fell off to l. 712 miles in 1875. From this point another recovery took place, and the construction ran up in 1879 to4.721 miles, in 1880 to 7,174 miles, in 1881 to 9,789 miles, and in 1882 to 11,596 miles The following table from Poor's Railr,1ad Manual shows the progress of construction in each year from 1830 to 1884, inclusive. Years.  Annual Miles in Increase of Operation. Mileage.  1 830 ...... 1831. ..... 1832 ...... 1 833 .. .... 1 834 . ..... 1835 .. . . .. 1836 . .... . 11:137 . .... . 1838 ... 1839 ..... ]840 ... . .. 1R4L.. .... 1842 .•.... 1843 ......  23 95 229 380 633 l,09~ 1,273 1,497 1,913 2,302 2 .818 3,535 4,026 4,185  ·72 134 ]51. 253 465 175 224 416 389 516 717 491 159  Years.  Annual Annual MilPs ~n I J Years Increase of MHe,;n 11 of Operation. ; ~ e a r ~ Increase • MileRge. Mileage. Opt ration. , I  ------1844 .... 1845 .... : 1846 . .. .. 1~47 . ..... 1848 ...•. . 1849 ...... 1850 ...... l i,5 1. .•. 1852 . .•.. . 1853 .•... 1854 ...... 1855 . ..... 18fi6 ...... 1857 . .....  192 256 297 66~ 398 1,369 1,656 1,961 1,926 2,452 1,360 1,654 3,642  ~_7___  4,377 4,ti::J3 4,930 5,59-i 5,996 7,365 9,021 10,98:2 12,908 15,360 16,720 18,374 22,016 ~4,503  Annual Miles in Increase of Operation. Mileage.  --- - - - - - ----- - - 2,465 26,968 1872 .. .. . . 5,878 66,17L 11%8 .... -l,-i2l 1859 ...... 28,789 1873 ... ... 4,097 70,268 1860 ..... 1861. ... . . 1862 .... 1863 . .... . 1 8o4 ..... 1865 ...... 1866 ..... 1867 . .... . 1868 ...... 1869 ..... 1870 .•... 1871. .....  1.84n 651 834 1,050 7:~f.C 1,177 1 ,716 2,449 2,97H 4,615 6,070 7,379  30,635 31,286 32,120 . 33,170 33.908  1874 .... . 187il . ..•.. 1876 . .... 11877 ..... 1878 . ..... , 1879 ...... 1880 .... .. 1881. ...  I  35,0 -➔ 5  36,801 39,250 42,229 46,844 f,2,914 60,2fJ3  i  I'""•------  1883 . ..... 1884 ......  2,·17 1,711 2,712 2,280 2,629 4,746 6.876 9,7})6 l 1,568 6,741 3,825  72,385 74,09 6 76, 80~ 79,08 8 81,71 7 86,4u3 93,349  103,1 ➔ 5  114,71:~ 121,-t:5 4 125,379  'rhe financial statistics, showing the cost of road and equipment, the stock and funded debt, and th':} e:1rnings, gross and net, are compiled from Poor' s Manual, and are given below for each of the last four years for eacn section of the country, with the total for the whole United States. . It is much to be regretted that the reluctance of many corporate officers to give any information, and the entire absence of laws in some States compelling the companies to make any adequate returns, render these general statisties less accurate and satisfactory than they might otherwise be. STATES AND TERRITORIES.  Cost of Railroad and Equipment.  6,405 1 8,256 19,825 72,704 7,961  $334,124,293 1,68 >, 141.937 839,398,967 3,5:,W,173,233 545,716,014  405,:;39,989 1,795, 1 L1,437 30,,359,771  125,151  $0.924,554,44'!  $3,762,616,686  6,3i3 17,531 18,qti6 70,345 7,486  $337,953,802 1,596,937,64 I 793, 126,042 3,441, 141,04ti 515,59 7,5 12  120,551  $6,681,756,0!5  -·--  Year 1884.  :rdd~nl~:~~~~-t.~~~~:::~ ·: ·  Southern States ..........•  ············1  Paoi:fl.c States Western States.••...•......  Total United States ....  General Liabilities.  "Miles of Road, Main and Branch.  -  Miles of II Operated. Railroad  •.rotal Gros:1 EarnEarnings, iugs, Includin~ Less Operating Mails, &c. Expenses.  Capital Stock.  Funded Debt. _  $204, "197,904  $136,696,8!3 080,215,773 479,62.?,988 1,836,i8 6,:.!54 i36,293,914  6,405 17,52tJ 17,025 66,124 ti,098  $:i8.558,913 2·22.307,819 69,~57,988 377 ,96-1,310 34,617,57d  $3,669,115,77i  113,172  $7 i•3,30ii,608  $198,544,058 1,012,157, l9 L 404, 792,91 l 1,784,900,292 307,658,13 l  $144,34ti,9~:t 9rn,163,6-l8 457,:::60,083 l,7tH,53ti,Ol5 196,523,506  6,iOJ lJ,974 H>,590 63,897 5,:l74  $'>9, 155,76 $ 237,06-:l,OLO 68,460,269 403,96::!,931 38,459,807  $ L5, 102,533 90,:")70,362 24,284, l55 147,5 •9,324 H,120,914  $3,708,060,583  ~3, :\00,879,914  106,938  $307, ll2,780  $29 l,587,588  $L6,487,007 76,421,089 19,316,539 141,367,192 13,53'.!,~05 $267,124,032  l,050, ,W7,5 ➔ 5  -  ------  -·---- ----  - --  $16,513,814 77,150,187 23,83 ; ,483 135,~ l6, ,,91 13,8 ,1,4::J6  l  $..l66,513,91 l  Year 18~3. New EnglandStates ....... Middle States .............. Southern States ..... . •.... Western States ... .......•. Pacific States ...•.......... Total United States ..•.  ----- -  -------  I- - - - · - - - - - - - I  Year 1882. . , , · \V Lu..1""' .l...,,,uU.. 1J1.1Ui li Vb_ . . . ....  Middle States ..... ......... South ern States ......•..••. Westt>rn States ..••..•••••. Pacific States ... ,. •........ Total United States .••.  ---112,412  tp;:$Ul:l,049.li:,4 1,443,857,959 722,976,486 2,993,018,137 4.61,507,848  $1 l:17,071, 108 970,55\.>,705! 363,:379,347 l ,635,310,3a2 289,764,701  $139,232,591 825,554,5~4 410,5!l:::",6!16 1,59:-.,255,387 213,779,04.3  6,186 18,55J 13,897 55,159 4,955  f56, 188,4~9 18,720,835 58,872,239 361,183,3,8 38,9!15,992  $5,930,409,624.  $ 3,456,078,196  $3,184,415,201  98,752  $733,960,943  6,161 15,984 18,004 58,227 5,948  $321,074,026 1, llti,450,210 672,474,545 2,771,109,31i 396,888,838  $192,450,::!88 87i,885,645 3::!3,390,496 1,;j77,910, 186 228,801,541  $116,14.B,178 773,279,54--l 374,9::,2,569 1,432,479,393 193,602,680  6,\W2 lo,213 14,002 52,975 5,034  $52,880,80H 22~,3»8,221 63,73 ,087 3'14,393,806 35,915,196  $ ln,9111,373 84,86'!,704 22,U0,6 23 134,756,393 18,87tl,066  104,324  $5,577,996,931  $3,195,438,156  2,890,497,364  94,486  $725,325,119  $276,654, J 59  ti, ;:;..:: lti,810 17,42~ 65,078 6,863  -  Year 18Sl. New Eng;landStates ....... Middle States .............. Southern States........ . .. West. &So. West States, &c. Pacific States ........ .... .. Total United States . ...   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  ------  - --  RAILROAD EAR..Vl.VGS. RAILROAD EARNINGS. In an article reviewing railroad earnings in 1885, the Commercial and Financial Chronic!(! had the following; The year 1885 opened encouragingly enough, for the month of January, notwithstandmg the rather severe weather that prevailed the last two weeks, showed quite satisfactory gains. In February, however, these gains were in many instances turned into losses, for the rail. roads then experienced a pniod of bad weather-mows, ice and intense cold-hardly ever equalled before in extent and duration, and certainly without a parallel in any recent February: which albeit had been a ~ad enough n onth in some other Jate years. In view of the extreme cold and snows with which we have been visited with.in the last ten days, it is well to say that the area then afflicted was not so extended as at present-that the South and Southwest we10 exempt from the damagea and interruption so general now-but that to many Western and North western, and also the more northern of the trunk lines, it wa·s a time of great drawbacks aRd extraordinarily unfavorable surroundings, which was reflected in their returns of earnings for that month. With March a change in the meteorological conditions occurred, a.nd the reports of earnings agam assumed a more satisfactory aspect. But the improvement was not to last. The Eastern railroad situation was steadily becoming worse, and the adverse effects extended more or less directly to the roads in other sections of the country. Then the commercial outlook did not brighten, and our industries everywhere became involved in gloom. The uncertainty attending a change of Administration, with the fear that some untoward acts would mark the course of the new powers in control of the Government, further paralyzed trade operations, and reduced railroad traffic to a minimum. As regards the volume of agricultural produce, though the crops in 1884 had been good, the railroads did not, except in special instances, get such benefits as expected. In the case of corn particularly was there considerable disappointment. The movement of the cereal was not quite as free as the large crop raised had led one to anticipate. Whether this was because the low price ruling diminished the inducement to farmers to market the gram, or whether a larger amount than supposed was needed to make up the deficiencies of previous years, the fact r_emains that the increase in the movement of corn to market was slight, and the total receipts of the cereal at the eight leading lake and river ports of the West for 52 weeks in 1885 foot up only about 9-½ million bushels more than in the correspond10g 52 weeks of 1884, when they had been nearly 21 million bushels below 1883. The wheat movement at first was heavy, and exhibited a marked incrdase over other recent yea.rs, the gain being chiefly in the spring variety of the cereal, and coming mainly from the Northwestern section, where an extraordinary crop had been raised in 1884, and the marketing of which during the closing months of 1884 and th~ early months of 1885 proved such a decidedly beneficial influence to the roads in that section. Later on, with the failure of the winter wheat crop of 1885-the most complete failure, it would seem, in our agricultural history.the receipts began to fall off heavily, though as this shortage was in a different section a different class of roads was affected. But the shortage afterward extended (though not to anywhere near the same extent) to the spring wheat section, so that the roads there, too, had a diminished yield to contend against in the later months. The new crop of corn, however, proved excellent, and as   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  47  'the season progressed and a large yield became more and more an assured fact, farmers were more inclined to let go their old supplies, and the movement of the cereal increased, and this helped in a measure to offget the loss from a. smaller yield of wheat. As regards the other cereals, ther~ was some falling off in oats, and also in rye, but a decided augmentation in barley. The flour movement was diminished, but not all ports, and consequently not all roads, shared in the diminution, the receipts at Chicago, for instance, showi ·, g a marked increase, though at Milwaukee there was a hardly less marked decrease. Beyond the crops, however, the West Shore, New York Central, South Pennsylvania settlement exerted an influence upon earnings that was all-controlling. Directly of course, this settlement concerned merely the Eastern trunk lines and their Western connection~, but indirectly its effects were v➔ry much more extended. The follow ing table, showing the monthly aggregates for each month, will indicate the course of earnings durfog the year. .vu~age.  P.;rioa.  1885.  January (70 roads) . . February (69 roads) . March (58 roads) .... April (51 roads) . .. May (56 roads) ...... . June (411 roads) ...... July (66 roads) .. . . . . August (50 road!!) ... Septembo, (56 ,o,do) October {62 roads) ... November (65 roads) December (64 roads)  I  MiUs. 51,485 50,846 45,Sfl2 45,513 44,317 41,240 47,697 42,118 44,564 46,898 47,231 46,772  1884.  Earnings. 1885.  188t.  lncrease or Decr/l<.l,8e.  Miles $ $ $ 49,579 17,798,036 16,972,869 Inc. 825,167 49,lM 16,016,193 16,268,067 Dec. 251,874 43,624 17,290,374 16,587,835 Inc. 702,539 44,149 17,4"6,848118,'12,7481"'. ......, 43,537 115,895,528 17,194,365 Dec. 1,298.837 40,813 15,237,167 16,044.732 Dec. 807,565 47,296 65,753 17,798,618 17,859,371 Dec. 40,884 16,465,830 17,327,884 Dec. 862,0M 43,372 20,'72,<4Jl 82,913 45,655 23,980,770 23,279,075 Inc. 701,695 4~.065 21,525,003 20,073,553 Inc. 1,451,450 45,685 19,883,941 19,3:J 1,8.:.t Inc. 552,130  20,355,85811"'.  Here we see how the improvement noted in J anua.ry wa.s in February followed by a loss, as a result of the bad weather preva.iling, to be again succeedPd by an mcreasd in March, when the impediments existmg had been removed and the delayed traffic came forward. After that the situation becam-1 very ba.d, and in the three following months the amount of decrease was heavy. It was at this time that trunk line affairs were at their lowest ebb, with contracts as low as 8 cents per 100 lbs. for carrying grain from Chicago to New York. Our table then did not contain any of the larger American trunk lines, and for the year below contains oaly the MLchtgan Central and the Lake Shore, but• in both periods many of the smaller roads affected by trunk line conditions are included, and of course the results on these are reflected in the aggregates given. With July came the great change to which we have referred, and though nnly a partial effort was made that month to advance and maintain rates, the table of earnmgs indicated a decided improvement over the months preceding, the decrease recorded being scarcely more than nominal. In August the failure of the winter wheat crop was a factor of considerable moment with many Wes tern roads, and some lo3t heavily, so that the 'total for that month again fell below the total of a year ago, but after that the improvement began in earne3t, and S.:,ptem i)er had only a trifling decrease, October an increase of $700,000, November an increase of nearly l½ millions, and Docember an increase of $550,001). The firdt really determined effort to maintain trunk line rates was made in October, and in November a further advance was established ; coincidently the heaviest increase in earnings occurs in these months, but of course the advance in rates was only one circumstance that contributed to the gains in those months, the gains being quite general and exceptionally large on some of the North western roads, which were favored by a h~avy movement of livd hogs and provisions. We now give in detail the earnings for 1885 as compared with 1884 on all the roads reporting.  4-8  RAILROAD EARNINGS-RAILROAD BONDS.  l¾IU)S~ EARNINGS FK.UM JANUARY l TO DECEMBER  Name of Road.  1885. $  Boston Hoosac T. & W .. Burl. Cedar Ral. & No .• Canadian Paci c ..••.••. Central Iowa . . ..••.•••..  509,092 3,093,514 8,351,558 1,305,265 7,989,734 1,661,83! Chicago Milw. & St.Paul 24,410,959 Chica~o & Nortllwest ... 24,308,761 Chio.St.P.Minn. & Omaha 5,818,263 Chicago & West Mich .... 1,292,405 Cin. lnd. St. L. & Chic . •. 2,372,350 Cin.New Orl.& Tex.Pac .. 2.681,859 Alabama Gt. South'n. 1,076,371 New Orleans & No. E •. 698,287 Vicksburu & Meridian. 4.86,151 Vicksburg Sil. & Pac .. 449,581 *Cin. Wash. & Baltimore 1,650,649 482,799 Cleve. Akron & Col.. . •. 6.111,361 Denver & Rio Grande ... Denver & Rio Gr. West . 1,011,177 * Des Moines .& Ft.Dodge 375.SH Detroit Lansing & No ... 1,221.538 Evansv. & T. Haute • .••• 749,873 Flint & Pere Marquette. 1,:;36,868 99l,e94 Florida R'y & Nav. <',o.. , Ft. Worth & Denv. City 464,\73 tGr:>.nd Tr. of Canarta ... 15,454,7281 6,495,004 fll. Central (Ii!. Div.) .. •. Do (South. Div.) 4.44.0,1:>73 Ill. Central ( Cowa Div.) .. 1,656.436 2,412.678 Indiana Bloom. & West .. 2,514,107 Kan. City Ft. S. & -Gulf •. Kan. City Sp. & Mem ... 1,503.873 Lake Shore & Mich. So .. 14,088.457 2,854,090 Long Island .. •••.••. . ••• Louisville & Nashville .. 13,66-1.94-7 824,545 Marq. Houghton & Ont.. t Mexican Central .....•. 3,549,578 Michig,m Cent. & C. So .. 10,755,000 1,33 {,392 Milw. L.Shore & West'n. 558, :i JO Milwaukee & Northern.  ~~~~ioE~~~iiiiii;jois:  31.  Increase.  188-1.  ----  ---· .... ....•...  ........  ··s:6:i-a  1,114.310 520,446 2,047,307 2, 160,4 l2 Mobile &Ollio ........... 2,7.::.0.682 ~.697,071 Norfolk & Western ...... Northern Pacific ..•..••• ll,37R,151 12.013,305 479,o::rn 4 7:3 ,002 Ohio Southern ....••..••. 73&,H2 759,767 Peoria Dec. & Evansv ... 3,9H0.258 3,873.71f. Ricumond & Danville . •. 775,104 810,437 Char. Col. & Augusta. 097,23:l 686,993 Col. & Greenville ...••. 1.5H,174 1,590,097 Virginia Midland ... ... 466,9-17 435,4;.14 West. Nor. Carolina ... 1,22!l,6~5 1,l<!t,750 Rochester & P1ttsonrg . l,t52.943 1,3l3,926 Bt-L.A.&T.H. main line. 7t>1,503 74.1.150 Do do (branches). 647,331 503,040 St. L. Ft. Scott & Wich . . 4,643,596 4,389,428 St. Louia & S. Francisco . 1,383, 1 S& 1.317,315 St. Paul & Duluth .. 7,490,320 8,314,197 Bt. Paul Minn. & Man::: 1,237,358 l,O -l0,033 Texas & St. Louis ... .... Wabash St. L. & Pao . .. 1 H,845,63R H.911,063 1,4'64,520 1,429,075 Wisconsin Central .......  ii9:01tl  37,884  ·5a:o"ii  ··6:oai .86.. 543  .  --· .. -----i  ---··· ...... · ••··  177,2t> 6'.?,43 ·s~:13 ·2i:ii i36:93  ··-· ---·-··-···  io,:o·  si&:i·1  ·-···· 1,804.,ii75  ---·. -  54  ·55:ii  . --. - .  ---··-  7·55:f27  ..... . .  .... ..  .......  904:()i 7 - --· .. iia:o· 1,237:i·~  ·25:s· ......  ....... 0  4.5:9 23  ":ff513  86,93~  -....... . -- - ..  ·20:i{:i  .......  709 83  i5l:i.  .65:868  io,:a25 ·sKi¥5  Jan. 1 to Nov. 30 NAME.  Gru..is Net Earnings. Earnings.  . --· ... 142§93 719,5.10 ---·. -  35.333 10,239  144,291  November.  Decrease.  - --$  $ $ 23,627 48='>,465 2,796,459 297,055 5,7 :'10,52~ 2,601,036 1,448,253 8,709,271 1,546,tn 115,719 23,470.993 n9,96t 23,!91,898 ~16,863 5.781,932 36,331 1.469,667 2,43-l,780 ·2a:iff4 2,65 ~. 185 1,165,102 597,446 iooj"ii 507,267 2!12,812 i56:739 1,793.636 ··a:5·1·s 479.281 5,552,104. 559,257 864,716 146,46] 348,18:l 27,653 1,328,592 ··6:232 743,641 2,252.987 93::J,251 463,563 605 17.259,703 o,158.312 336:63.2 -1,a20,132 120,441 1,712,J90 2,302.023 iio:ois5 91,603 2.422,444 1,20-l.i74 299,599 14,843,584 ·s2:056 2,77 ·Z ,034 13,662,465 2,482 819,993 4.552 3,016,0iO 533.508 11,659,077  GROSS ANO NET EARNINGS FOR ELEVt,N MON ms.  s2a:s·77 1,065:37·1  ---- ----- ---- - ··-··· -  Total (61 roads) ..... 242,181,545 24?,634,4 ➔ 2 8,476.310 8,929,24 Net decrease . . • • . . . . • • . . • . . . • . . . • • . • • • . ••..••.••• .. Inulurles tllree weeKs only of D ecember in each year.  t Figures are given in Mexican curr~ucy . t 5 3 weeks.  In the matter of expenses and net earnings, we have as yet only the figures for the eleven months ended November 30, from which we see that while in some cases expenses have been diminished, -in others they have been greatly increased, the Union Pacific being conspicu• ous among the latter. On the whole, however, it may be said that the exhibit of net earnings is quite satisfactory. considering all the ad verse conditions that prevailed through part or the whole of the year. Prominently favorable returns are made by such roads as the Canadian Pacific, the Mexican Central, and the New York & New England.  * 997,534 1,601.413 742,683 1.461.9~2 3.865 21.823 18,182 def. 2.129 115,831 56.677 31.37t IOtl.849 3l3,006 81UIB2 274,132 106.362 814,066 302.004 610.873 245.213 79,507 284,680 78.869 276.079 29,545 68.21:14 21:l.29l 71.228 151.516 53.326 5i.045 138,993 2,318,053 1,249,090 2.233.891 1.145,016 7:l,38H 191,678 196,313 21!:~~~ 572.983 151,926 462.459 85,02«: 98,564 37.v9L 1IJ3.IJol 38,H05 14.999 33.734 IJ.5itt 165,956 400,781 149.645 380.180 18.BlO 43,514 18,979 36,273 £ £ 26.J,l:.!6 56.168 2-l9.14·{ 64.770 46.182 7.362 G5,Slll 17,008 5,740 20,921:l 3,55::! :ll.064 s  $  76,659 8 1.915 1,129.022 1.191J.596 150.961 1-12,185 812,481 285,l2S 2a1,134 253,382 181.488 196.00L 1,lll2,52fl 1,703,338 309,743 254.420 97,3-l4 97.275 270,MII 24-l,810 483.594 474.80;5 1.249.358 1,ll6.:-l79 301,9fH 276,033  29.9311 24.168 445,626 522.607 66.890 211.372 154,592 134,064 107,015 115.953 74.194 82.3511 609.ll78 487.824 129.183 68.803 41J,690 50.596 116,731 115 063 2U7,92d 193,4fl7 t717,606 t5flt,505 85,525 61.901  8.071.539 3.950.937 319,407 826.289 2.666,4.50 ll.554.131 1.605,7!8 l.t:!45.577 167.8J5 156,465  1.616,205 1.475.'ill 147,187 l-16.69~ 1,837,374 1.244.1!89 2l9,04'i 41:lll.51J3 66,657 6 L.l:J8  34'1.510 298.159 6i.238 54.5ll6 47;!,588 424.466 2.l,751  190.010 150.373 40,l69 82,118 199,579 172.456 10.525  9(9~0  .47.040  84,457 1.003.07' 861.608 1.715.5H 1.071.047 2,718,590 2,832,656 35,211  41.674 487,324 3\IB.616 1146.143 983,952 1,433,46::! 1,380.569 1s;n2  2.42J.279 2,414.238 b5,382 82.8~2  l,OiS,703 l,200,6H 30.702 32.56-i  Gross \ Net Earnings.~  --. ••• Uch. Top. & Santa Fe ....1885 .. Do do L884 .. ..• • Sonora§ . . . . ... ..... 1885 .. Do do 1884 .. .... Baltimore & Potomac ...• IH:-<5 .. 1884 .. Do do Burl.Cedar Ran.& North.1885 .. Do 1884 .. do .... Canadian Pacific .......... 1885 .. Do 1884 .. do .... •'.hesapeake& Ohio ....... 1~5. 1884 . . Do do Elizab. Lex. & Big San .. 1885 .. Dc1 do 11"84 •• ... Ches. Ohio & Southwest .. 1885 .. Do do 18:!4 .. ... Chicago Burl & Quincy .. 1885 .. Uo do 1"'84 . . .... Cin. Ind. St. Louis & Chic.1885 . . Do 1884 do Denver & Rio Grande .. l!IB5 . . Do ltlH4. do .... Denver & Rio Gr. West .. 1"85. Do 1884 .. do . ... ,e ... 111 ..ines & Wt. Do ige. l885 .. Do do 18/ti .. ..•. East Tenn.Va. & Georgia.1885 . Do do 1884 . ... Yort Worth & D ~nv. City. 1885 .. Do do 18..."4 . . ~  ...  $  14,318.024 15,056,801 271,535 201,537 1,215,245 1.124,43,J 2.826,605 2.508.008 7.t:!38,558 5.22~.97(1 3,047,040 3.:.:!21:1.61:13 6i8,785 697.043 1,423.569 l,~Stl.367 24.226,452 23.423.31:1 2,167,761 2.231,687 5,614,874 5.130 .745 939,857 765.886 347.120 324.597 3.710.593 3.61 11,819 431,095 4Sj,884  .. . . l}rand Trunk of Canada .. 1885 .. 2,778,881 1884 .. 3,157,159 Do do 501,;'i25 Chicago & Gr. Trunk ... 1885 .. 1581J,7d5 do 11:!H! .. Do 215,27-l Det. Gr. Haven & Milw. 1885 . 2311,169 Do 1884 . . 00 .. .. Kentucky Central . . . ..•. 1885 .. do 1884. Do .... L.ouisville & Na~'l.vtae ...• 1885 .. Do 1884 .. do .... Memphis & Charleston ... 1885 . . Do do 1884 . . .... '1exican Central§ .. .......• '. o::,5 .. ,8'i4 .. Uo do .... \:iobile & Ohio ········· .. 1885 .. I~ .. Oo do ..•. N ashv. Chatt. & ::lt. Loui~. 1885 .. l884 .. Do do .... 'i. Y. Lake Erie & West.*18b5 .. uo do 1884 .. .... N'. Y.&NewEnodand ... .. l&.5 . . Do do ll'l84 .. ... . N. Y. ::lusq. & Western .... 1885 . . Do do 1834 .. .... Norfolk& Wesrero ....... 1885 .. 1884 .. Do do ...• iortnern Centr,o ......... l1Sl:S5 .. iJo do 1>3i:l4 .. .... '.iforthern Pacific ........... lod5 .. Do do 1~84 .... Ohio & Mississippi.... ..1895 .. Do do 1884. . .. Peon. (all llne:1 ea.st ut Pit.ts burg .t Erie) .•••..• L8:35 .. Do ao 1884. . ..• Phitadelphia & t<,rie . ..... lt-185 .. Do do 1884. .... Philadelphia & tteading .. l::!b5 .. Do do 18~ .. . ... "h. ,v. Read Coal & Iron. l885 .. Do do 1884 .. ..•. Rome Wat. & Ogdensb'g.1885 .• Do d> 1884 .. S mthern PaP-iflc Cumpany...• ll-alvest'n Har. & 8. An.1885 .. lKl--4 .• Do do •• , Louisiana. Western ...... 1885 .. 1884 .. Do do .. . . Morgan's La. & T. RR .. li-185 . . 1884 .. Do do .... N. Y. Texas & M:exican.1885 . . Do 1884. do .. . Texas & New tJrleans ... 1885 .. 1884 Do do .• .. Total-AtlanticSystem.1!'<85 .. do 18-4 . . Do . ... '1',,tal-P<1.ciflc System 1885 .. 1884 .. Do do .... Total whole -lystem .... 1885 .. Do do 1884 . . .... Texas Central. ....•..•... 1885 .. 18!¼ .. do Do . . . . Union Pacific .... ......... l!IB5 . . 1884 .. Do do .... West Jersey & Branches.1 &'35 Do do t8-¼  $  7.042,939 7,2ll,4ll 49.818 df.37,693 501,710 3t:S8.706 85J,625 774.554 2,984,18:l 1,020,575 87tt.840 971,613 231,334 237.412 456,388 301.817 ll.l:166.435 11.867.085 792.738 832,72l! 1.986.fl:-n l,6&'l,880  io2.si1  95.375 1.21i,790 1,352,471 lh6,188 201,4~3 £ 658.767 866.8tl9 71.047 126,9.iO 56.471 68,930 $  787.051 855,377 12,5li8.017 12 370,338 1.180,9lf> l.:l54,0-!9 3,2L2,778 2.fW0.385 1,774,804 1.875.775 1,941.2 110 :&,ltH.170 17,68ll.ltl7 18,71J2,1135 3,ISb.148 3.007.1}63 l,Ou5,049 1:146.52-i 2,52L,6H9 2 464.041:l 4. IJd.'3. 2"J3 5.07\J.11119 10.574.328 ll.t-155.076 3,366.711 3,411J.883  253,094 305,355 4,856,760 4,'i65,887 2U,6M 31Jl,272 35::!,749 432,851 872,38tl 45:3.Htlt 785.326 930.080 4,405.429 -!.622,236 l, 141.241 682.12a 468,803 392,501 1,011.980 1,078.680 2.014,054 l,IJ64,2fl6 +5.255,211 +5.779.465 939,r!M 733,2m  41.568.3'15 44.797,5::!:i H.Olll.825 3.3il).022 26,ti38,014 28,'35tl,597 14,615,568 15.Mt:S.151 1,583.644 1,576,270  14,776,068 16.943.672 1.LH8.805 1,376.120 11,832,566 12.291,721 def75,12! 448.038  2,902,0f\7 2.6L~.439 548,671 424.717  1.377.742 796,216 290,489 18<J.758 1. ~02.280 968.503  si:i2.2s2 776.387 8,13\l,435 6 975.609  303.549  3.720,542 3,156,069  4(i8,838  l~~~:&ig  238,709  ·::t"i,24s  23.57·6.68-i  8.siri.s21 9,697.937 462,1)77 500,459  23.337.704 1,11J9,142 1;436.518  y~;~j¼~~~~~l~a~~ ieo'~igfJ!1;I~b~!~ and entire working expenses of the New  + Taxes a o1 d renta ls not deducted.  ,r After takmg out amounts spent for renewals and betterments. , Mexlcan currency.  PRICES OF RAILROAD BONDS. 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, though an exception is made in placing income bonds under the name of the company to which they belong and also in bringing bonds from the " Free List" and placing them in alphabetical order in the table, where they may be found under their proper title. Wherever there has been but a single sale in a month, the price so made is given as both the highest and the lowest. On account of the infrequent sales of many issues of bonds, the tables of the Chronicle were formerly compiled by using the quotations "bid" and "asked ;" but this method was found to be too indefinite, and was a½andoned. All the prices in the tables following are compiled from actual sales at the Board. 188i. BONDS. ___ - - - - - - - - ·  JANUARY FEBR' RY.  MARCH.  APRIL  JULY.  AUGUST. 8EPT'BER. OCTOBER. NOV'BER. DEC'BER.  JUNE. _MAY. ____ _____ ---- ----•l--------1-----  H _ Ig_h_._L_o_w ~igh. Low High. Low Hil?h. Low High. Low High. Low High. Low High. Low High. Low .H igh. Low Jligh. Low High. Low  1  Atlanta & Cbarl.-lnc.6 Atlantic&Pacific-lst.6 Incomes. . ............. .6 Bait. & 0.-Parks.Br.fi Bost. H. & Erie.-ist .. 1 Gua1·anteed ......... . .. ')'   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  ... .. .. .... ....  -  66 - 51% 61 - 52  . ... -  - .. ... ..• - .... - .... 48%-4871> ~ . .. . 112 -112 .... - .... 62 - 54¾ 63 - 57¾ 88¾- 62¾ 88¾- 78¼ 83¾- 76 79¾- 66 75 - 66 - . . . . 65½- 65¼ . . . . - . . . . . • • • - . .• . . . • • - . . . . • • • • -  100 45 1.10 72  - .... - 99¾ - 44 -110  .... - .... 95-95 101¼-100¾ 101 -100 42¾- 42¾ . .... - ........ - •••• - 56½ 79!!4- 61¼ 80¾- 66 - ........ - .... 'l'l-'11  RAILROAJJ BONDS.  40  1881-CJontinned. BOND.  JANUARY FEBR'RY. ,_ MARCH.  APRIT,.  MAY.  JUNE.  I  JULY. -  AUGUST. _ SEPT'BER. OCTOBER. NOV'BER.  DEC'BER.  _ _ _ _ _ _ _ _ _ _ High.Low High.Low Hil!'h.L~~ ~Ugh.Low High.Low High.Low High.Low High.L_~ High.Lo~ High.Low High.Low Hig~~ow  Bur. C.R. &N.-lst . . . a 101 - 99¾ 100½- 99½ 100½- 911 101 - 99½ 104 -100¾ 102¾-101 102¾-101¼ 102%-101>2 101 -100 101 -100½ !02¾-101¾ 100 - 1:19 Minn. & St. L.-lst. 7 122 -122 126 -125 125 -125 .... - ........ - . . .. 125 - 125 .... C.R. Ia.F.& N.-1.st . . 6106¾-106½ 107 -106¾ 108 - 108 . . .. - ... 105,¼-105 105 - 104 - .... 104¾-104¾ 105¾-105 Carolina Cenu·al-lst.7 .... - .... 101 -101 .... - .... 102 -102 Cent. Ill'. U. P.-lst .. . . 6 .... - .... 104¾-104¾ 105½- 105½ .... .·.·.·.· i·.·.·.·. - .... 108 -108 Funde<l coup .... ...... . 7 .... Atch.Col.&Pnc.-lst.6 .... - .. .. 101½-101½ 102 -101 106)4-101 106 -105 105 -104 101¾-101 102 -101 101 -100½ 100 ·100 99 - IY7 Atcb.J.Co.&W.-lst.6 .... - ........ - ........ - .... 103)4-101 103 -103 103½-103½ 102 -102 Ce~tral Iowa-~st ...... 7 115¾-112½ 114 -1~3.¼ 113 -110 113¾- 112 117½-113½ 119½- 117½ 118 -115 116¼-115 114 -112¾ 115½-114 116 -1J_5¾ ~1.5½-114 Coup. debt ee:rtfs . .... .7 90 - 88 91 - t-8 87 - 87 .. .. - ....... . Cent.RR.o:fN.J.-lst .. 7121 -119½ 120 -117½ 118¼-117¾ 119 -118 121)4-120 122 -120)4124 -120 .... - ... 117}(-116¼ 119¾-118½ 119 -118 118¼-118 Consol,, assented ... 7 11115¾-115 118½-1137..,11 117½- 116½ 116½-116 118½-115¾ 120 -118¾ 120 -118¾ 118 -116 115½-115½ 114½-112½ 115½-114 li5¾-ll5~ Conv., assented ..... 7 116 -114¾ lli¾-115 117½-116 118 -117 117 -115 120 - 117¼ .... - ....... . - .... 118 -116 117¼-115 113¾-113½ 1137,i-113¼ Adjustment ........... 7 113½-112¼ 118½-109 110½-108½ 112¾-111 112 -107½ 112½-108¾ 108½-105 106%-106¾ 109¼-107¾ 111 -1()8 107 -105 108 - 1 ~ Income ............... 7 105 - 97½ 106 -100 108 - 99 102½- 96 105 -101 105 -102 101½-100 99¼- 9f,½ 100 -100 108 -100 103 -100 102½-100 Leh.& W.D.-Assent 7 111 -105 112 -109 111 -108 lll¼-108 112½- 110 112 -111 112 110 112¾-109 110½- 109¼ 110¾-108½ UQ¾-109 108½-107 Income . . . . . . . . . . . . 7 92½- 85 99½- 99¾ 98¼- 98¾ 95 95 - 95 94½- 94½ . . . . - . . . . . . . . - • . . . 96 - 96 97 - 93½ 90½- 90¾ Am. Dock & Imp ...... 7126 -126 135 -126 182½- 132 132 -130½ 130 _ -130 132½-130 · 136½-132 136 -135¼ 136 -136 135 -134 136 -136 1~-137 As -ented .... ...... . ... 7 126½-122 183 -125 183¼- lS.l 132 -1297/4 lSQ¾-130½ 135 -130 135½-1317.' 136½- 135 134 -134 .... - .... 137 -136 1~~-138~ Douds ............ . . .I) .••. - .... 100¼-100¾ 102 - 101)4 Ches.& O.-Pu1•,ll1.:fd . . 6 .... - ... . 110 -110 .... - .... .... 8e1·ies A .... ........... .6 . . . - . ... 102 - 99 102 -101 102 -100 Series B ...... ... . . ... . 6 84 - 80¼ 83¾- 81 5¾- 81¾ 86¾- 83½ 92¾- 85¾ 91 - 89½ 89½- 86 88¾- 84 86½- t4¾ 86 - 84 85½- 83¾ 84¾- 80½ Cur., int deferred ..... 6 53 - 48¾ 53 - 49½ 59 - 50½ 60 - 55 67¼- 59½ 66½- 63¾ 68¾- 58½ 61½- 54½ 59¼- 55 58 - 54 58 - 55 56½- 52½ Chic. & Alton-lat . .... 7 122 -121½ 121 -121 120 - 120 121½-121½ 125 -125 123 -123 123½-123½ 119 -119 127 -119 127 - 127 - ... . 122 -122 Income ................. 7 105 -105 106 -105 - .... 102 -102 105 -103 .... - .... 102 -102 - .... 101½-iOl½ Sinkinirfund . . ......... 6115 -112 112 -112 113 -118 114¾-114½ . . .. - .... 115 -114.½ . ... - .... 118½-118½ .... Lou.&Mo.Riv.-1.sA. 7115½-115½ 116 -116 - .... 116 -116 118 -118 119 -119 125 -125 .... - .... 114 · -114 118 -118 117 -114 2d ...................... 7 .... - .... 109 -109 St. J..J.& Uhic.-lst .. 7 ... - ... . 117 -117 .... - .... 119½-117 119½- 118 120 -120 120 - 120 .... - ... . 117 -117 117 -117 115 -115 Mi!Js.R. Br'a-e-S. fd .. 6 106¾-106¾ 106½-106½ . . . . - .... 105 -105 .... - ........ Chic. Bur. & Q.- 1 st ... S 107 -105¾ 107 - 106½ 108 -107 108½-108 110 -109 110 -110 106½-103¼ 106½-106½ .... - .... 106½- 106¾ 106½-106½ . ... Con ■ol.. ......... .... .... 7 129 -127 127¾-127 127¼- 126 128¼-127¾ 130 -130 132½-131 131½- 130 :32 -131½ 132 -131 131¾-130 180½- 129 180 -130 Sinkin1r :fund ........... /> 105 -105 - .... 105%-105¾ ... . Chic. & E, 111.-ht ..... 6 106 -106 107 -106½ 108 -108 110 -110 lll!r4-lll¾ .... - .... 118 -113 110¾-llO½ 113 -118 .... - .... 108 -108 104½-104!,g Income . ... .............. 7 102 -100 107½-10 ½ .... - . . . . 109 -109 .... • - ....... . - .... 107¼-107 . . . . Chic.Mil.&St. P.-lst.S 137¼-136 183¾-183¼ 183 -180 135 -185 136¾-136 137 -137 139 -189 136 -:36 183 -183 134 -183 134 -134 183½-183½ - .... 118 -118 .. . . - . .. 121 -119½ 121 -120 . ... 2d ....... .... ...... .1' 3-10 127½-125½ 124 -128½ 123 -121 122¾-122½ .... - ....... . - .... 126 -126 120 -120 12"!. -121 122 -122 ht, arold ....... ...... .. . . 7128 -128½ 124 -128¾ 122 -122 .... - ... . 132 -125 132 -129 126 -126 120¾-118¾ 121 -118¾ La Crosse Div ......... 7 '. 25½-128 128¾-123½ 122½- 120 123 -121½ 129¾-124½ 128 -127½ 125 -122 12£ -125 123½-123 .... - ... . 122 -120 121 -121 I. & M. Div ............. 7 125 -123 125 -122¾ 122¼-120}.! 122 -121½ 127¾-123½ ... . - ... . 126 -126 .... I.&D. Div ............. 7 . ... - ........ - ........ - .... 123 -123 126 -126 ... . C.&M.Div ............ 7124 -124 126 -125 1.'22¾-122¾122½-122½131 -120½129 -129 128 -128 - .... 125 - 125 125 -125 121 -120½125 -124 Consol.. ........ . .. .. .. .. 7125 -128½ 124¾-120 128 -120¾ 124 -122 132 -124½ 131 -129 131 -124 126 -123 126 -124 124¾-120 124 -122 124 -120½ !ld mort .... ... . ......... 7 . . . . - . . . . . . . . - . . . . . . . - . . .. 101½-101½ ... . I. & D. Exten . .. ....... 7 126¼-120 124¼-122 122½-120 122 -121½ 130 -123 130 - 128 126 -126 - .... 126 -126 120 -120 121 -:21 121½- 120 So. West DiT ........ . .. 6 108¼-108¼ 107½-107 107¾-107 108 -107¾ 110½-110½ 107 -107 109¼-109¾ 109 -106½ 106½-106 106 -103¾ 109 -l!M»J 107 . -107 1.st, La C. & Dav .... . I) 99½- 97¾ 98 - 96½ 96¼- 96¾ 98½- 97 102½- 98 101½- 100¼ 96 - 96 96½- 92 94 - 93 96 - 94½ •·· • - ... . 95-95 So. m,:inn. ~iv .... . ... 6 108¾-107 108 -lr6 1107 -106 1CJ7¾-106½ lll½-107 111 -110¼ 108,¼-106 lOi¾-105 106½-105 106¾- 104½ 107 -106½ 107 -106½ H. & D. Div ............ 7' 118)4-117 118 -116 117¾-lld 118¾-117½ 123 -117½ 122½-122½ .... - .... 118 -115 118 -117 - .... 118 -116¾ 117½-117 Chic. & Pac. Div ...... 6 110½-110 110 -110 109½-109 110¾-109 111)4-111 112½-112½ 110¼-110½ 109¼-108½ .... - ... . 109 -107½ 108 -108 110 -108'7,i ....  1  98 -  M~:!!:t;J~:::::::::t::: = :::: :::: = ::::1:::: = :::: :::: -  93 - 00  ....... = ::::  i~: =~~~  .98¾=  98¾ .~ = ~~ .. 1:  =1~~  98 -  97 98  - 98 100 - 97 - .... 95¾- 95¼  Chic,& N.W.-S.F ...... 7 112¼-111 .. .. - .. .. 1110½-109 .... - .... ll2½- 112½ ... . Interest... ..... . ....... 7 106 -106 108 - 108 1108 -108 . . . . . ... 105½- 105¼ . ... - . . . . . . . . . ... 108¾-108½ .... Consol .... . ... .. :': ....... 7 135½-134 132½-182 181 -130 132½- 131 183½- 183 135 -133 135 -134 183 -133 135½-183 134 -131½ 183 -130½ 131 -130~ 1st mort .... . ............ 7 113 -112 110½-108½ 110 - 109 110 -110 112½- 111½ 113½-108 113½-113¼ 110 -107 108½-107 108½- 108½ 110 -108½ 110 ·-10~ Gold, coup . .... .. ....... 7127¼-125 125½-123 1:.!5 - 121 125 -124½ 129 -127 127 - 126 128 -126¾ 127 -125~4 125 -124¾ 125 -124 127½-124 124 -123 Gold, reir ................ 7 128¾-126 125 -124 125¼- 128½ 125 -124½ 130¾-127 .... - ... 126¾-125 125¾-125¾ 125 -124¾ 124 -124 124¾-124¾ 124 - 123 Sinkinir :fend, coup .... 6 111 -106¾ 111 -111 111 -110 108 -108 112 -108½ 111 - 111 lll¼-110¼ 110¼-110¼ 110.' -110 107 -105½ 108 -107 109-¼-·107~ Sinking tnnd, reg . ... . 6 .... - .... 110,;£- l lO¾ . . . . .• _ . ....... _ .... 110½-110½ . ... _ - .... 106½-106½ 107¾-107¾ 108½- 107¾ Sinkln1r :fund, coup .. . I, ... - .. . . .. . - . . . . . . - . . .. 101 ·-101 lown. Midland-1st ... 8 .... - ........ - . . .. . . . . . ... 132 -132 .. .. - ........ - . . . . . . . . 180 -130 ··-· Gal.& Cbic.-Ext'n . 7 104½-104¾ 101¼-101¼ 102 -101 102 -102 103¼-103¼ 104½-~04½ 104 -103¾ 100¼-100¾ .... -· ... 102 -102 102 -102 102¼- 102¼ Chic.& Mil.-lst ...... 7 .... - .... 121½-120½ .... - ... . 124¾-12i¾ .... - .... 125 -125 125¾-125¼ ... - ...... . -109 .... - .... Winona & St,P .-1st. 7 . . . . - .... 110 -110 108 -108 - .... 109 2d .... . .................. 7 120 - 120 .... - .... 119 -118 120 -119 - . ... 122½-122¼ .... - .... 124¼-124¾ 124 - 124 .... - .... 120 -119¼ 120 -120 -125 130 -126¾ Chic.R.I. &P.-Coup . . 6 125¾-125 124½- 124 124 - 121 125 -12' 128 -126 130 -128¾ 129½-129 · 130 -127 128 -126 126 -125 127 Reg.. ...... . . ... ..... . 6 .... - .... 125 -123½ .... - .. .. 124 -124 124 -124 .... - .... 129½- 129½ .... - . . .• 126½-126¼ 125½-124½ 126 -125 127¼-127 Keok'k&DesM.-lst,I> 105 -102¾ 105 -104¼ 105 -103 102½-101½ 104 -108½ 110 -llu 110 -110 110 -107 .... - .... 103 -103 106 - 103½ 105 -105 C.St.L.&N.0,-Consol,7 llll -116 .... - ........ - .... 117. -117 .... - .... 114 -114 118½-118½ 2d, income .............. 6 !00 -100 100 -100 100 -100 .... - . . . . . . . . . .. . · · · · - · · · · · · · C.St.P.M.&0.-Cons ... 6 107 -105¾ 107)4-105¾ 105 -103¾ 104¾-103½ 109½-103¾ 106¾-104¼ 105 -102¼ 103¼-101 104 -102 103¾-102 104¼- 103 lOl¼- 99 Chic.St.P.&M.-bt .. 6 111 -1C8¾ 112½-112 111¼-lll 111¾-111¾ 112 109½ 113 -111 112½-112 .... - .... 113 -113 113 -113 110 -109¾ lQ8¾-l08 1 St. P. & S. City-l_st . . 6 ,115 -1!0 114 -112 112¾-111¾ 110 -108)4112 -109½ 113 -112 113 -112 113½-110 118 -111½ llQ¾-108½ 110 -109½ llO - l ~ C.St.P.&M.-L.1r. 1nc.6 120 -1~0 . ... - ... . 1.... - . ....... - . . . . . ... 1 .. - .... 106 -106 ... . - ...... . . 103¾-108½ .... Cln. I.St.L.&C.-Cons .6 . ... Cin.Lo.£. & Chic,-lst., 110 -110 , . . .. Cin,&Sp.-lst,C.C.C.&I 118½-117 119 -119 . . . . . ... 118¾-118¾ · · ·· - · · · · ... · 1st, L. S. &M. S .. ... .'7 .... - . .. . - .... 119 -119 - ... . .... - .... ···• CI. C. C.& 1.-lst, s.td.7 .... - ........ - .. . . 125 -J25 125 -1:&2.½ 123 -123 124 -124 124½-124..½ .... - ........ - ... . 125 -125 125 -125 124 -l 28¾ Consol.. .................. 7 121 -116 122 -121 121 -120 120½-120 126½-124 126½-124 126½-126½ .... - .... 125½-125 123½;-120 125 -123 122 - 122 91 Col. Coal & 1.-lst,con.6 97¾- 1:16~ 97 - 94½ 971,(- 96 96 - 95 102½- 95½ 103¼-101¾ 102 - 97½ 92¾- 90 93½- 93 93 - 90 92 - 90 ¼- 89¾  ~:~~::..tJ.~;~;,!sS,::~lioi 1891. ........ ........  i:~~:~  io·-i  =105¾ 1()6¾=10~ =106½ ios =108 109 -108¼ 111 -109¼ 1U7½-106½ 108 - 107 108½- 106½ 10b - 107¾ 108 ·=l07 .. 7 1H5½- 113½ 115½- 114 116 -114 118 - 116 118 - 115 120 -120 117 -115 120 -118 115 -115 117½-115½ 116 - 118 114½- 114½ Coupon, 1894 .......... 7 1J7 -116 118 -118 118 -118 117 -117 !19 -119 120¼- 118¾ 121 -120 .... - .... 121 -120 118 -116½ 12(; -119 llB¾-116¾ Registered, 1894 ..... 7 118 -118 - . ... 115½-115.½ 117 -117 - ... . 120 -119 .... 113½-113½ 120 ·-120 Penna. Div.- Coup .... 7 123 -123 128 -123 124 -128 122 -122 126 -126 126 -125 .. .. . .. . 127 -126 128 - 128 125 125 Registe1·e,I... .. . . . . . 7 . . . . - .... 121½-121¾ . . . . - ... 124 - 124 128 -128 . . . . Alb. & Susq.-lst m .. 7 111¾-lll¾ 118 -113 114 -113¼ .... . ... 116 -116 ·· ·· 106 106 2d mo1·t ................ 7 115½-109 .... - . .. 110 - 109 109½-109 109½-108½ 109 - 109 .... - ... . 108½-1061.2106 -105 126 Consol. 1:uar ........ 7 111½-lll½ 125 -125 125½-125½ 124½-124 126¾-121¾ .... . ... 126 -125 .... - ··· · -l2S½ Rens. & Sn.r.-lst,cp.7 .... - .... .... . .. 1S5 -134 .... . ... 137 -137 ... . . ... 136 -136 . . . lst,re1r ................ 7 .... - ........ - .... 134 -134 ... - ....... . Del. Lack. & W,-2d . 7 102½-102¾ . . . . Convertible ... .......... 1 . .. . . ... 117¼-117¼ ... _ .... .... . . . . . . .. . ... 119)4-115 ... . .... .... . ..... . Cons., 1907..... . . . .. 7 . . . . - . .. . 127½-127¼1. . . . - . . . . . . . . - .... 129 -126 127 -127 .... - ....... . - .... 125¾-125 126 -124¼ i27¼-124¼ 129 -127 _ ........ - .... 122 -122 Syr.Din.&.N.Y., lst . . 7 122 -120 120 -120 128 - 122 121¾-121½ .... - ... . 126 -126 125 -123 125½- 125½ · · · · MorriK & Essex-1st. 7 135 -183 185 134 135½-135 135 -134½ 137 -187 188 -134½ 142 -140 141 -141 135 -135 137 -135 135½-134 .... :ld mort . ........ . .. ... .7 118¼-117½. .. . . .. .116 -116 117¾-117 119 -117½ .... - .... 121 -1197,i 120 -118 120 -119½ 120 -118 114½-114½ · · · · -  '78,  7s, 1900 . ... . .. . .... .. . 7 110 -110 Construction ... ... .7 1C9 -109  ,., 1sn .............. 7 1.. ··   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  1···· ... .' .. . - ........ _....... . ... . .. .. I _  - . . . . .... •  . ...  ii.o  -1is ..  i~  _  -1i!3½ ::: :  .... 124 -120  127 .124  124 -128½ .... -  - .... 119 -117  122½-121~  tiO  RAILROAD BONDS. 1881-Contlnued. JANUARY FEBR'RY.  MARCH.  APRIL.  MAY.  JUNE.  JULY.  AUGUST. SEPT'BER. OCTOBER. NOV'BER. DEC'BER .  BONDS. ---- - - - - - - · - ----1----1 _ _ _ _ _ _ _ _ _ _ High.Low High.Lo~ High.Low High.Low High.Low High.Low High.Low High. Low High.Low High.Low High.Low High.Low Del, Lack. & West.M,&E.-Cons., guar . . 7126 ·124 125 .:124,¼125 -124 124¼-123½129 -124 127 •126 125¼-124 126 -125 125 •124¾125½-124 125½;-124),,023½·122¼ Denver & Rio G,-lst .7 115½-113½ 117¼-114 117¾-115 120 -118 120 -116 121½-119½ 120½-117 118½-115 117½-116 117 - 116½ 114¾-118½ 114,f-110 Consol.. ...... .. .......... 7 114½-111½ 114)4-112 114)4-112 115¼-113 119¼-115¾ !21¾-119)4 117¾-115 116½-110 112 - 110)4 110¾---::.07 111½-108 109¼- 103¾ Denv. So. P. & P,- lst .7 110¾'-107 109 -105 107¾--105¼ 109½-107½ 111 -106½ 110¼--110)4110 -108 109 -105 106 -105 107 -104½ 104 -102½ 104 -103½ E. Tenn. V,& G,-lst .. 7115 -115 115 ·115 117 -115 .... .... 118 -117½ 117½-117½ ... . ·· . ..... - ........ - .... 82½- 82¼ Income . ... .. . . ......... . 6 .. . . - . . . . . . .. • - . . . . . . . . ... . . . . 60 - 55 55¼- 50 57 - 52½ 55 - 52½ Erie-1st, Extended .... 7 129½-128½ 127 -126½ 128 - 127 129 -129 128½-128½ ... . - .... 182 - 132 ...... . ... 129½-129½ . . . . - .... 127½-125 125½-125½ 2d, Ext .. . .. . .... . .. ..... 7 109 -108½ .... - .... 101}¾-108 108½ 108½ 110 - 109 110½-110½ .... - .... 110½-110 . . . . - .... 106),,£-106¼ ... . - .... 107 -106 3d ................ ...... 7' 111 -110 111 -111 108½-lOi¼{ 108 -107)4109½-107½ 111 -109 110 -109 109½-109 105¼-105 106 - 105 105½-105 106 - 105 4th, Ext .... . .. . . ... .. .. . ~ 108¼-107¼ 110 -107 109½- 108¾ 109 -107¾ 109 -109 111 -109 111 -110 110 - 110 . ... - .... 107 -106½ 107 -105½ 108 -107 ~th . .... ... ..... . .. .. ...... 7 111 -111 112¾-112¾ 113½-113 - .... 118 -113 - .... .... - .... 112 -112 1st, consol., gold ...... '7 181 - 129% 181 -129¾ 128 -126!U 129 -127 132½-129 1337,(-132)4 133 -132 133 -130 129 -127 128 -127 127½-126½ 121}¾-127 Long Dock ............ .. 7' .... - .... 120 - 120 120 -119 120 -119 127 -127 123½-123½ 124 -124 126 -126 .... - ........ Buff. N, Y. &E.-1st.7 127¼-127 ... . - .... 128 -128 - . . .. ... . - . ... 129 -129 - .. .. 126 -126 129 -129 N.Y,L.E.&W.New, 2d consol. . ... . 6 J.02 -100¾ 102 - 94½ 102¾- 98 103¼--101 108¾-104 106¼-102¾ 104¼-lOO¼ 103¾- 99½ 103¾-100½ 104 -101½ 105 -103¼ 101¾- 99 2dfund, coup .... .. .. ~ 97½- 95% 96½- 95 96½- 94 99),g- 96¾ 104½- 99½ 101¾- 98¾ 100 . 98 100 - 97½ 100,¼- 98 100 - 99,½ 102½- JOO 99 - 97½ Income .. ..... . ......... 6 91 - 90¼ .... - ........ - .. . . 90 - 90 91 - 90 .... - .... 102¾- 101¼ Ev. & T, Haute-Con .. 6 ... , - . . ... . .. Flint & P, M,-Mort .. . 6 .... - ....... . - .... 111 - 111 110½-110 110¾ uo 113 -111 Frankf. & Kok,- 1st .. 7 105½-100½ .... - ........ - .. . . 110 -110 Gal. H. & H.-Gold ... .,- 70 - 70 .... - . .. . 75 - 71 .... - ........ - .... 89 - 89 78 - 75 81 - 76 80 - 75¾ 90 - 80 86 - 65 .... Gal. H, & SanA.-lst . .6 102¾-102¾ 102½-102 102 -102 105),,(-105 105 -105 - .... 110 -109 . .. - .... 108 -107.½ 111 -106 107¾--106 .... 2d ......... .......... .... .. '1103¼-102¾ .... - ........ Gulf Col. & S. F,- 1st .. 7 .... - ........ - ........ - .... 112 -111½ 123½-113 125 - 128 119 -1!8 .... 117 - 115 116 -115½ 110 -104. 110 -107½ Han. & St. Jo,-Conv .. 8 118½-111¼ 118¼-112 1097,1i-108 110 -108¼ 112 -109½ 112¾---111½ 113½-112 115 -113% 114 -109½ i08 -106¾ 108 -107¾ 108 -108 - ... . 112 -112 . . .. Consol ........... . . .... .6 .... - .... ... . - ... .... - . .. .... . Hons. & Tex. Cent.1st, Main Line ......... 7 112 - 110 111½-110 110½-109¾ 112¾-110),,( 117 -112¾ 117 -116 118 -110½ 112 - 110¼ i.12 -111% lll½-109½ 113 -110¾ 113¾-llS 1st, Western Div ...... 7 110¾-110 110½- 110 109¼-109½ 111 -109½ 11$¾-111¾ 115½-113¾ lll½-111>!! .... · .... 109¾-109¾ 109½-109 110¼-109½ 109½-109,½ - .. .. 116 -1 16 . . . - ....... . - .... 116 -116 - .... 115 -115 Waco & No. Div ...... 7 .... - ... ·. 111 • 111 2d, Main Line .... ... .. 8 126 -119 127 -126 127¼-126 124 -123 184½-122 133 -130½ 182 -181 181½-127 130 -130 128 -126 125 -125 Inc. & Indemnity ..... 7 97¾-- 97¼ 100 - 99¼ 100¼-100 108 -102 100 - 99½ .... 99¼- 98 General mort .......... ff .... - .... 107 -106 106¾-105 105 -104 106 -105 101¾- 99¾ 100}4-100 Illinois Central. ... . ... - .... 115 - 115 116½-116 114 -114 . . . . - .... 118 -118 Cedar F. & M., 1st ... '7 118 -118 ... . Dub. & S. C,, 2d Div.'1 ... . . ... 107¼-107½ 110 - 110 Ind. Bl. & W,- lst, pf.. 7 .... - .... 120 -120 120 - 119 121 -120½ . ... - .... 128 -123 ... - ... . 125 - 125 1st .............. 3, 4, ~. 6 84¼- 81 87¼- 88 00 - 87½ 90 - 88½ 95 - 89 99 - 95 98 - 95¼ 95 - 89 94 - 92½ . . .. 92 - 90 92 - 91½ 2d ........ ..... . 3, 4, ~. 6 78~- 70¼ 81 - 72¾ :.1 - 79 81 - 79¾ 88 - 80 86 - 84 86 - 84 85 - 80 80 - 78 80 - 78 82 - 80 81½- 80½ Income ................... 6 80½- 65 80 - 74 85xi- 76 100 - 84¾ 108 - 98 75 - 75 Ind, Dec, & Sp,-lst . .. .7 107 -105 108¼-107 109 -105 106 - 103½ 107½-106 109½-108½ 110 -110 107½-104lJ-4 107 -106 108¼-102½ 104½-103 105¼-104¼ 2d, income .............. ,- 68 - 58 67¾- 58 60 - 59¾ 77¾-- 56 80 - 74 7!'%- 77 - . . . . 63 - 63 66½- 55 · 64 - 60 76¾- 65 75 - 70 Trust certificates .... .. .... 60 - 60 75 - 66 78 - 73 Int. & Gt, North,-lst.6 110 -107 109½-109 110 -109 113¾- llO½ 112½-111½ 118 -112 112½-111¼ 112½-111 111 -109½ 110¾-110 107¼- 107½ 107;!:i'- 107 Coupon, 1909 ..... .... .6 . ... 97¼- 98½ 94½- 93 92 - 91¼ 2d, income .............. 8 94 - 87 98¾- 90¼ 96¼- 90 100¾- 95½ 100½- 98 108½- 99¾ .. . . - . . .. . . . . - . . .. 99 - 99 - . . . . 93½- 93½ 91½- 91½ Assented ... . .. .. . ... . . . . . . . .... .... - .... 108 -101½ 108 -100 100½- 99 ... . .Jefferson-1st .... ....... 7 109½-108 110 -110 .... - ........ - ........ - .. .. 110 -110 ... . Lake E1•ie & W.-1st .. 6 118 -111½ 101}¾-106 109 -107½ 109 -108 114 -110 115 -lll½ .... - .... 109½-109 110 -107½ 108 -105½ 108 -107 108 -107 68 - 60 61 - 50½ Income ................... 7 81 - 68 • 82¼- 75 76!)4- 72 77½- 73 82½- 75 85 - 1 77 - 74 76 - 65 73 .. 67½ 72 - 65 Sandusky Div, ......... 6 . .. . - .... 108 -108 107 -106½ 106¾-106½ 103 -103 103 -108 103 -100 100}4-100 - . .. 55-55 - .... 68 -62 Income ... . ........ .. ... 7 70 - 70 .... - ........ - .... 76¾- 72 - .... 105¼-104 108 -105 107 -107 105 - 102¾ 108¾-103 Laf, Bl. & M.-lst .... 6 110 -108½ 109¾-109¾ 109 -107 109 -108¼ 109 -1C6¼ 111 - 109 Income . ............ ... 7 82½- 73 82 - 80 80 - 73 .... - .... 82 - 75 85 - 81 Lake Sb, &Mich, So.M. S. & N. I. Skg, fd .. '1110 -109½ 110 - 109¾ 112¼-lll½ 118 -112½ 112 -110½ .... - ... 112 -110½ 112 - 11!½ 112 -111½ 112 - 111½ 109½-109½ 108 - 107¼ Clev. & Tol,-Skg.fd,'1109 -108½ 109 -109 110 -110 112 - 112 113½-113½ ... . . ... 110 -110 110½-l:iO½ 111 -111 110 - 110 .... - ... . 109 - 109 New ... .. .. ·· · ······ ···"' .... - .... 108¼-108¼ ... . Cl . Pains.&Ash ..... .. 7' .... - .... 118¼-118¼ ... . - .... 117 -117 . .. . . ... 126 -126 124 -124 . .. . 122 -122 Buff. &Erie-New .... 7 l22¼-122}fj .... .:. . 128 -123 .... Kai, &Wh.P.-lst ... 7 .... - ....... - .... ... . ... 112 - 112 .. . Det. M, & Tol,-lst .. . ,- 122 -122 .... - . ... .... .... .. .. . ... 122 - 122 L. Shore-Dividend . .,- 123½-128½ 125 -123½ 125½-125 121½-121¼ .... - .... 125¾---125% . . . . - .... 123½-122 123 -122 Con. coup,, 1st ....... 7' lS0½-129¾ 127½-127½ 127½-127½ 128 -127½ 180½-129 188½-183 .... - .... 130 -128 128 -128 130 -130 181 - 180 180 -180 Con, 1·ell,, 1st ... ... -. . 7 128¼-128¼ 129 -127½ 127 -127 126¼-126 12U - 128 - .... 181 -128 180 -129½ .... - .. . . 128¼-127 180 -128 130 -180 Don. coup., 2d ... . .. . .7 125 -125 124 -122½ 124¼-128½ 125 -124½ 12!:l -128 126 -125 125 -125 .... - .... 127½-125 128 -128 125¼-125 124¼-123 Con. 1·eg., 2d .. . . .. ... ,- 124¼-123 123 -122~ 125 -123 125 -124½ 125½- 125 126 -124½ 126½-126 .... - ... . 126 -126 126½-125¾ 127 -125 124 -123 Lon(l Island-1st ........ 7' 114 -114 . .. - .... 114 -114 112½-112¼ ... . - . . . . . . . . - • ... ··· · Louisv. & N,-Consol..? 122 - 121¼ 122 -121¼ 122 -121 120 -118¼ 122½-120½ 124 -123¼ 124 -124 123½-122½ 122½-121½ 118¼-118 110 -117¾ 121 -119 2d, gold ................ ··"' 106 -105½ . . . - .... 106 -106 .... - . ... 107 -107 .... - .... .... - .... 106 -105 · · ·· Cecilian Branch ...... 7 .... - .... 111 -111 - .... 111¼-111¼ 112~112¾ 110 -110 .... - . ... 109 -10S ···· N. O. & Mob,-lst ..... 6 103)4-103 103 - 102 102 -102 102 -102 109 -102½ 110 -107 104 -104 .. . . - .... 108 -103 103 -108 ···· - .. · l03 -lOO E. H. & Nash,-lst. •-6 .... - ....... . - .... 108 -108 108 - 108 109½-108 106¼-106,i- 106 -106 .... - . .. . 102 -102 102 -102 100 - 100 lOO -lOO Gen'I mo1·t . . . .. .. . ...... 6 105¼- 108½ 104½-102¾ 104¾- 102¼ 106½-104,.; 112 - 106½ 109½-108 108 -105% 106¼-1')3¾ 109 - 103 106½-104½ 106 -104¼ 1021/rlOl  s~l~~~~.~~~.-:--:~.~~:J ::::  = . ....... _ ........ _ ........ _ .... 112½_ 1~~~ ·;;O½=  60 .  _ :::: 1~~  =1~!  1:~=1~~~ 1:¾=l:¾ .  57 =57  Pensacola Div ......... 6 ... . _ . ... 108 -l08 104 -104 104 -104 104 -103 Leb. &KnoxDiv ... .. 6 ... . .... - .... 101 -101 Nash. & Dec,-lst .. .. .7' .... . ... 116¼-116½ .... - •··· 118½-116¼ Lou, N. Alb, & C,-lst. 6 . ... - . ... 103 -102 105 -102½ 111 -105 110½-108½ 108 -106% 107½-105 106 -103 106 -102½ 105 - lOl½ l05 -l03 Man. B, Imp, Co,-lst .7 .... . .. , 95 - 95 98 - 98 96 - 92 100 -100 100 -100 98½- 98½ .... - ........ • ···· Ol¼- Ill½ N. Y.& Man, B ......... 7 106 -106 110 -107 - .... 110 -105 109 -109 .... - .... 106½-106½ . . . . - · · · · 105 - l05 Metropolitan El.- lst .. 6 105 -102¼ 106½- 104 106 -104¼ 105½-101 104¼-101½ 104)4- 103 101 - 99½ 100%- 98 ,oo - 98 103 - 98 105¼-102 lOS¼-lOI¼ 2d · .. · · · · ··· · · .. · · . ....... .6 94.½- 88¼ 98 - 04. 98 - 96¼ 97 - &s 91½- 87½ 91 - 88¾ 90 - 89 90 - 85 88 - 82!,ii 96 - 87 94 - 90 {Jl½- 00 Memphis & Cbar.1st, consol.,Tenn.lien 7 . . . - . .. . . . . . - .... 108%-108% .... Mich, Cent,-ConsoJ .... ,- 128¾-127 127 -126 .... - .... 129 -126jJ( 129 -126¼ 131 -129 180 - 127 130 - 180 126¼-126 125 -124.½ 125 -l21½ 125 · - 1227/4 Sinkinit fund . . ... ..... . s 115 -115 ... . - .... 110 -110 108 -108 106¼-106¼ .... - .... 107 -107 105 -105 .... - .... 108 -108 · · .. - · · · · lOS -I03 Gr. Riv. Vttl.-1909 .. 6 . . . . - ... .. .. . - .. .. 103½-'!.03½ ... . Coupon, 1931 .. ........ ~ .... _ . .. . 100 -100 100 - 96 100 - 95½ 99 - 97 98 - 97 Re(listered, 193 1. . ~ . . . . _ . . . . . . . - . . . . . . . . - . .. . 97¼- 97½ 98¼- 98 Jack Lan, & Sag .... ti .. . . ... 110½-110¼ 111 -111 10$½-108½ 109 -109 110½-110¼ Mid,ofN,J,-lst .... 4-.i-6 . . . . . . . . 78 - 78 . . .. . ... 87 - 87 99 - 99 - ........ - .... · · · · - · · · · 92¼- 92 ½ · ·· · - · · · · Mil L. Sh. &W,-1st .. 6 .... . ... 109 - 108 108½-107 107 - 106 106½-102 108½- 105½ 107 -102½ 10399-102¼ 70 - 70 Income ... ............ .9 . . . . 75 - 75 88 _ 87¾ . . . . Mil, & No.-1st ... . . 4-~-6 . . . . . ... 102½-100 102 - 101 101 -101 . . .. - · · · · lOl -lOO ·· · · - · · · · Minneap.& St,L -1st. 7 120 - 112 .... - . . .. 118 -115 - .... 120 -118½ .... - .•.. 117 -117 116 -116 .. .. - .. .. 117 -117 118 -118 115¾-115¾ Iowa Extension ...... 7 lll½-108 111 -110 110 _109 111 _110 111 -llO½ .... _ . ... .... _ ... 111 -110¾ 112 -111 112¼-111% as -112½ 109½-l09½ Mo,K,&T,-Con,,ass'd7 11$¼-111),,{ 109~108 107½-104 10$¾-106% 112 -108¾ lll¾-110¾ lll¼-110 111 -104½ 106¾--105 106¾-103 107½-lOfl¼ l07½- l05 2d, income ..... ····· · . .. 6 82½- 74¾ ~ · 77½ 85 - 80¼ 85 - 82%1 00 - 84¼ 89 - 85¼ 86½- 81% 83 - 77 84½- 81 82¼- 77¾ 80½- 77 77),\r 68½ 8 7%- 80 93 - 86 General..··••···· · ...... 6 .... - ....... . - ........ - . . . . 98 - 92 100½- 97¼ 98 - 95¾ 98~- 92 92¾- 88 89 - 88 89 - 82 Han.&Cen.Mo,-1st,7 ... _ ........ _ . . .. .... _ ........ _ . ..... .. _ .... 112 _112 .... _ .......• _ .... 112 -112 114 -114 ... . - .... 107 - 105  -   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  .  RAILROAD] BONJJS.  51  1881-CJontlnued. BONDS,  J.A.NUARY FEBR'RY.  AUGUST. SEPT'BER. OCTOBER. NoV'BER. DEO'BER, - - - - - - - - - - - - - - - - -M.A.Y. - - - -JUNE. - - - -JULY. - - - _____ ,_____ ,_____ -----1---MARCH.  APRIL.  High.Low High.Low High.Low High.Low High.Low High.Low High.Low High.Low High.Low High.Low High.Low High . Low  ----------·1---- -  Mobile & Ohio- ew .. 6 110 -106½ !10 -108¾ ll0½-108¼ 113 -110½ 118 -112½ 116 -116 115 -110 112¾-ll2 llS -112 114 -112½ llS½-llS 109½-109½ 1st, p1.•ef,, debenture .. 7 89¼- 34½ 86 - 79 86¼- 82 92½- 86 09 - OS 100 - 05 00½-- 07 101 - 04¾ 08 - 96 09 - 05½ 98 - 96 97½- 95 2d, pref,, debenture .. 7 56 - 47 531;;- 50 55½- 50 64 - 54½ 'iO - 62 72½- 64¾ 71 - 67 71½- 65 72 - 65 7S - 71½ 72%- 72 71½- 70 3<1, pref., debentu1·e .. 7 44 - 40 . . . . - . . . . 42 - 39¾ 40 - 43¾ 61 - 50 65 - 57 65½- 65¼ . . . . - . . . . 62 - 60 62 - 62 63 - 62 61 - 61 4th, pref., debenture.7 42 - 40 .... - .... 42¼- 40 48 - 43 59 - 49½ 64 - 56 62 - 62 .... - ... . .... - ........ - .... 63¼- 62 61 - 60 Nashv,C.& St.L,-tst. 1119 -117 118½-116-½ 118 -117 120 - 118 123 -118¼ 125 -125 119¾-118 118¼-118 118¾-118¼ 118}4-ll~ 117:)4-117 119 - 117)4 1st, Tenn. & Pac ...... 6 . . . . - . . . . . . . . - . . . . . . . - . . .. 110 -110 . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . - . .. . Nevada Central-1st . . . 6 101 -101 .... - . . . . - ..... . .. - ........ - ..... . .. - ........ - .... 102 -100 100 -100 100 -100 .... - .... 100 -100 N. J. So,- lnt,, guar . .. .6 .... - .... 06 - 96 101 - 96 101%-101¼ 106½-101¾ 107¼- 107 104}.(-104¼ 104 -104 .... - .... 102 -101¾ 102 -101 101 - 100½ N. O, Pacific-1st . ....... 6 ... . - . . . . . . . . . ....... - ........ - .... 103 -102½ 105 -101¾ 101½-100 100 - 95 95¾- 91 96 - 92 96 - 91% 96 - 91 N. Y . Central- 188 3 .... 6 105 -104½ 105½-105 105¼-104½ 107 -105½ 106½- 103¾ 106 -104½ 106 -105 105½-105 104½-104~ 105 -105 103¼-102¼ lOS -102)4 1887 ..... .. ............. . 6 110½-109 109¼-109¼ .... - .. . . 111¼- 110 113 -113 . . . . - . . .. ... . - .. . . 112¼-112 112¼-112½ 112½-111¾ 110 - 110 .... - ... . Real estate ... . ... ... . . 6 - ... . .... - . .. . . .. .... - ........ - . . .. - . . . ... - ... .. ... - . ... . . - . . . . .. . - .. .. ... . - . . . 102 - 102 6 ubscription .... ...... . 6 .... - ........ - . . . . . .. - . . .. - . . . .. . . - . . . . - ..... ... .. .. - . . . 105 -105 . . - . .. . 102 - 102' N,Y. C.& H,- lst,cp .. 7 134 -134 133 -~32½ 132¼-132 133 - 133 137½-133¼ 139½-138 137 -1313½ 138 - 136½ 138 -137½ lS'i½- 135½ 136 -136 138 -136½ 1st, 1.•eg .... ........... .7 . ... - .... 132 -132 132½-132½ 134 -133 137½-137½ 139½-139 136½-136½ .... - . . . ... - . . .. . . . - ...... .. - .... 137 -135¾ Hud, Riv.-2d, s. ·fd .7 112 -112 ... - .. . . 110]4-110 .... - ........ - ....... . - .. .. 110 -109 .... - ... . .... - .. .. 110 -110 111 -111 .... - ... . Can, So,-lst, guar .. . . ~ 103¾-102 102 -1(10 100¾- 99½ 100½-100 105 -100% 104)4- 103¼ 101¾- 99½ 100¾- 09 100 - 99 99½- 97 ll9½- 98¾ 99~- 98¼ Hal'lem- lst, coup .... 7 134 -134 .... - .... 133 -132 133 - 133 133 -132 135 -135 .... - ........ - . ... 135 -135 136 - 135¾ 135 - 134 . ... - ... . 1st, re1i .... . . . ..... . ... 7 134½-133½ 134 -133½ 132 -132 .... - .. . ..... - ........ - . ... 135 -135 135 -135 135 -135 .... - .... 134 - 134 .... - .. . . N.Y.City & No,-Gen'l.ti .... - ........ - ... . 97¾- 97 95 - 95 98½- 94½ 96 - 05 95¾- 94¾ 94¼- 92¾ 92 - 92 89%- 88 86 - 85 86 - 85 N. Y, Elevated- 1st .... .1118 -115 120 -117¾ 120 -118 118¾-113½ 118 -113% 118½-117 116½-115½ 117 - llSJ.11116]4-114 118 - 114){ 119 -118 119 - 118J:,8 N.Y.Pa.&O,- P1·'1.·lien6 .... - ....... . - . ....... - .... 95 -95 .... - ... . ... . - ....... - ........ - ..... . .. - . . . . 100 -100 . ... - ....... . - ... . 1st, income .. ...... ..... ,- 65 - 60 68½- 59 67¾- 63~ 65½- 65½ 67¾- 66½ 67 - 62 56½- 54 57 - 57 . . . . - . . . 55½-- 55'~ 54 -· 5S 47½- 43 N,Y.&Tex. Land-Scrip 28½- 22½ SO¼- 26½ 27½- 26½ 32 - 28 35 - 82 34¾- 82 33 - 32 33¼- 32½ .... - ... . 82 - 32 .... - .... SO - SO Norf~ &West.-Gen,M.6 .... - ........ - ... . . . .. - ........ - ..... .. . - . . .. 108 -108 108 -107 107½-103 107½-107½ 107½-106½ 104 - 103½ 104 - 102½ Og,&L.Champ.-lnc,3-6 .... - ........ - ........ - . . . 64 - 64 . . . . - ........ - ........ - .. .. . . .. - . . ...... - ........ - ........ - ...... . . - .. . . Ohio Central- 1st .... . .. 6 107 - 108½ 106½-108½ 105 -103½ 104¼-108 107½-103¼ 107¼-106 105 -100 100¾- 97½ 100½- 99¾ 100¼- 98¾ 101 - 99 100 - OS½ 1st, terminal trust .... 6 103 - 100 102¼-102 102 -101 101 -101 104 -100½ 104½-108¼ .... - . . . . 101 -101 . ... - ... . 100 -100 .... - . . . . 98 - 98 Income ........ ... . . .. . . 1 70 - 59½ 69'3'.11- 61 67 - 59½ 65 - 60 69 - 60 68¼-- 68½ 65 - 54 57 - 47 58 - 48 52½- 49¾ 54 - 48 48½- 48¼ O. & Miss,-Consol, s. f,7 120½-llS 119½-119 120 -118¾ 119¼-119¾ 122)4- 120 124 -122½ 122½-122 121½-121½ 120½-120½ 119½-118 120 - il8½ 120 -120 Consol. ................ ... 7118)4-118¼ 119 -119 119¼-118½ .... - .... 119 - 119 122½-122½ 123 -121 122¾- 120 120 -120 120 - 118 118¼-118½ 119 - 118 2d .. .. . ........ . ...... . •·U 7 128 -122 126½-124 126½-124 125 -121 126 -124 126 -124¾ 123 - 120 123½-121½ 122½-120½ 124 -124 124 -12.:l 123½- 123¼ 1st, Springf, Div .... . . 7 117½-115 117 -115¾ 116 -115 120 -115 119¾-112:}4 122½- 119½ 121 - 118½ 118 -110 114 -113 121 -113 118¾-115½ 120 -118½ Ohio Southern-1st .... 6 . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . - . . . . . . . . - .... 102 - 99 99¾- 96¼ 90½- 04 94¼- 00 95 - 90 98 - 94 93 - 91 Income ................... 6 .... - .. . . .... - ........ - . . .. .... - . . . . . . . . - . . . . 66 - 59 55 - 49 48 - 43 48 - 4(1 46 - 40 49½- 43 47¼- 44 01·. R'y, & Nav.-lst ... 6 108 -105 107½-106½ 107 - 105 108½-106½ 112 - 109 115 - 111~4 112¾-1077/8 110½-110 110 - 109 110¼-107½ 110 - 100 116 -1083' l'acific Raih-oadsCen t. Pac,-Gold .. ... .ti 115 -112 114 -118 118¼- 112½ 115 -114 118¼-115 120 -117 117 -115½ 116½-114 116 -113½ 116 - 114% 116 -114½ 116½-115¾ an Jonquin Br ... , 6 109 -108½ 110 -110 110½-110½ 107 - 106 110 -110 112 - la 112½-112 112 -112 .... - .. . . 107 - 107 108¾-107½ . ... - . .. . Cal. & 01•egon ...... . 6 104)4-108 105 -104¼ 104½- 104½ .. . . - . ... ~07 -106½ . ... - . . .. lOi¾-107% 107¾-107½ 106¼-106½ .. . . - . . . .. ... - . .. . 103 -108 State aids .. . ........ . .1 .... - .... . . .. - . . .. 105 -105 .. . . - .. . . .... - . . . . .. . - . . . . . . . . . . .. - ... .. . . . - ... .. ... - . ... .... - ... . 105½- 105¼ Land grants .......... 6 105½-105½ - . .. ... .. - . . . . 103.½-103½ 106%-106 . ... - .... 107¾-106¼ 107¾-106 107¾-107¾ 107¼-105 lOij -105½ 105½-105 Western Pac ......... 6 118 -111 ... . - .... 111 -110 111 - 109¾ 113¾-112 116 -114 113 -112 118 - llS 111 - 109¾ 111 - 110 112 -111¼ 112 - 112 No.Pac,- Bond ce1·t•s.6 102¼-102¼ 103 -102 102½-102 102 - 102 104¾-101)4 107 -104¾ ... . - ... .. ... - ... .. ... - ... . .... - ... . .... - .. . ... .. _ ... . 1st, coup . . 6 . .. . - .. . ..... - ........ - ... .. . .. - ........ - ... . 108¼- 104¾ 105 -LOS¼ 104½-102¼ 103½-102½ 105 -102¾ 104¼-108 104 - 102~ 80. Pac., Cal-1st ..... 6 104 -103 104¼-103:}.i 104¾-103¾ 102},!-101¾ 106¾-102 107¼- 106 107%- 107 107¾-105 107 -!06¾ 108¼-102¾ 104}1,-103 104 -: :>S-~ Union Pac. -lst ... .. 6 115 -118 115 -118 114 -113 115¾- 118¾ 119 - 116 122 -117½ 119 - 117 118¼-117¼ 117½-116 116%-116 1177,,t-116;½; 117¾-117 Land grants . ........ .1 115½-114% 114¾-114¼ 116 -114 115%-112 118 - 115¼ 120 -118¼ 118¼- 118 119 -117½ 118½-117 118¾- 113½ llS¾- 113¼ 113¼- 112½ Sinkingfuml. .. . ..... 8 128 - 122 124½-123 120%-119¾ 121 -120 127 -121 130½-127 131 - 128 129¼- 128¼ 1247:{- 128¼ 125 - 121 123 -123 123¼-122 Registe1·e d ........... 8 120½-120½ 124½-123% 119¼-119¼ . . .. - .. . ..... - .... 130 -127 . . .. - .. . . 129 - 129 .... - . . . . .... - ........ - ... . ... . - . .. . Collate1·al trust' . ... 6 106¾-106¾ - . . . ..... - . . .. 108¾-106½ lll½-108¾ 112½-111% 109 -109 112 - 10 ½ 109½- 109½ 1087,,t-108¼ 1087:{-108¼ _ ... . K,Pac .-lst,F.&A .. 6 .... - .... 112½-111 . . . . - . . . . . . . . - . . .. 114½-114½ 119¼-119½ 117½-117 .... - ..... . .. - .. . .. .. . - . .. . 111 - 111 111%-111% 1st, 1896, J.& D ... 6 110½-110½ lll¼-111 112 -111 114 - 114 117 - 114 116 - 114 115 - 115 .... - . . . . . . . - ... . .... - ... . 113 -112½ 110 -109¼ Dem•, Div.- Ass'<l 6 108 -107 109 -107 lOS¾- 1077"1\ 112 - 109 114¼- 109¼ ll4¾-1L2¾ 1.14 -113 118½-112 112 - 1'1 113¼- 110 110 -109½ 100 -107½ Leav, B1·anclt .. . .. 1 ... - ...... . . - ........ 150 -150 ... . - .... 140 -140 .... - . ..... .. - ... . .... - ... . .... - ... ..... - .. . ..... - ... . 1st, consol. . .. ..... . 6 105 -103~ 106¾-101¼ 105¾-103 108½-105¾ 109 - 105½ 109-¼-108 110 -109 109½-107 107¾--106¾ 108 - 106 105½- 103% 104 -102¼ Jncorne, No. 11 ... .1 .... - . ... . ... - ... . .... - ........ - .. .. 106½-106½ . ... - ... . . . . . - .. ... . .. - ...... .. - . .. . .. . . - .... .... - .... .... - . . . . Income, No.16 .. .. 1 . .. . - .... 107½-102½ 105 -105 105 -105 .. . - . .. . ... . - . .. .. ... - ... . 95 - 95 .... - . .. .... - . . . . .. . . - .... . ... - ... . Pac, of Mo,-lst . . .... . 6 110½-110 108¼- 107 108 -106½ 108¾-107½ 110 - 109 110¼-110 118 - 113 109¼-108½ 108½-107½ 107¾- lOU¼ !08 -107 108 - 107½ 2d ....................... 7 114 -113  3d .... .... .. . . ........... 7 lUo. Pac.-lst, con . .. 6 ~t.L .& S.F.-2d "A" .6 Class "C" ... .. .. .. . 3 -6 Class "B" .. ....... . 3-6 Equipment ..... ... .... 7 So.Pac.ofMo.-1.st .. 6 Texas & Pac.-lst ... 6 Consols . . .. ........ . . .6 Inc.& land gr,, 1.•eg.7 1st, Rio Gr. Div .... 6 Panama-Sink, fd .s ub. 6 Pennsylvania RR.Pitts.Ft. W.&C,- lst. 7 2d . . ........... . ......... ? 3d .. . .. . . .. . .. ... . . .... . . 1 Clev,& P.-Cous. s .fd.? 4th . .......... . .... . 6 C,C.& I.C.-lst, cons,7 1 t, trust cert's, ass'd 1st, do Slll>Pl'ry Income ...... . . ........ .1 Pa. Co,-Gun1·,, cp . . 4½  116 -115½ 117 - 115½ .. . . - . . . ..... - .... 115½- 115½ 115 -112 112 - 112 120 -120 .. . . - .... .. .. - .. .. 108 -106½ 108¼-107½ 107¼-105¼ 109¾-107 109:k;-108¾ 108 -107½ 1077k107¾ 102½- 102 106 -102½ 105½-105¼ 107 -107 .... - .. .. 109 -109 . . . . - .. . 86¾- 86 92½- 88¾ 97)4- 93 96½- 96½ ... . - . . .. . ... - . . . . 94 - 98 88 - 84 08¾-- 88¼ 97¼- 98¼ 98 - 96¾ US - 96½ 97 - 93 95½- 95 101½-101½ .. . - .... 103½-103½ 103 -103 .. . . - ... . 104½-104½ 104½-104 105¾- 105 106 - 104¾ 109¾-106½ 110½-110¾ .... - ... . 108 - lO'i½ . ... - . . . . ... . ... - . .. . ... . - . ... .. . . - . .. 110 -110 112 -llly~ .... - ... . .. . - . ....... .. 102 -102 104 - 104 .... - .... . ... - . . . ... .. - . . .. 106 -102 105½- 105½ 102 -100 .. . . - . . 83½- 74 89¾- 78 86¾- 81¾ 87½- 83 91)4- 86½ 95 - 88½ 88 - 75 82 - 75 79 - 75 102 - 98 100 - 97 98¼- 96¼ 98 - 96½ 103¾- 97% 102~-100¼ 101¾- 98% 96>-~- 90½ _OS - 00 . ... - . .. . 109¼-108½ . ... - ...... . . - ...... . . - .. ... . .. - . . . . . .. - . ....... - . . . ..... - . . . . 107 - 105¾ 103 -102¾ 86½- 86 89 - 87½ 103 - 103 105¾- 105)4  187 - 137 181 -128  137 - 137 132 -130  ..  - . .. 113 - 113  123 -123 lll½- 110 lll½-108½ 108½-106¾ 109 -105 75¼- 58  6  !~~J, =!~!~ 84 - n Evansv. Div .... ... . . . ti 111)4, 111 Do income . .. . . . 6 80 - 68  RomeW.&0.-Cousol,1 St.L.Alt.& T.H.-lst . . 1 ~d, p1·ef. .. ... ...... . .. .. . 7 2d, income . . ............ ,Dividend . .... . .. . ...... .ti  .... - .... 114 -113 111 -110½ 106½- 106½ 107 -104½ 74½- 61  .. . . - ........ - . . . .  p:!~~;1t~&~/~1i:t: Income .. .. .... . .... .... . 6  Pitts, B, & Bu:t.r.-lst . 6 Richmond & All.- 11,1t. 7 Rich. & Danv.-Cons .. 6 Roch, & Pittsb,-lst ... 6 Income . . . . . . . . . . . . . . . . . . . .  116 - 115  .... - ... .. ... - ........ - ........ - . .... ... - ... 120 -116  106 -105¼ 103 -103 88 - 86½ 89 - 88 103¼-102¾ 105%-104  ios =106¼ 34½- 79¾ .. . . - .... 81 - 78  137 - 137 1135 -135 138 - 137 180 - 130 12l¾- 129½ 120 - 120 .... - ... 120 -120 125 - 125 125 -122x1 .. . . - .. . . 128 - 126¾ 112 - 111 .... - ....... . - .. .. 112 -110½ 140 - 110½ 135 - 135 107½-104½ 116 -110 . . .. - .. . . 110 -105 122 - 108½ 126 -121 72¾- 67½ 75¾- 69 80¾- 71¼ . . . . - . ..... . . - . . .. 105 - 105  139¼-189 133 -132 . . .. - . . .. . .. . - .... ... . - ... . .. . . - .... 121 - 121 125 - 122 78 - 73¾ ... . - . .. .  138 - 188 .... 126¼-1 !6¼ 128¾-128¾ 113½-113 .. .. - ... 123 - 128 124¾-122 82½- 74 102 -102  . . .. - . . .. 138 - 138 1S8 - 138 130¾-130\4 .... - ........ - . ... 129 -120 .... - . . . . lSU - 130 120 -127¾ .... - ... . 180 - 129 ... . - .. . ..... - .... 118 - 112 132 - 130 .. . . - ....... - .. .. 12S - 128 .... - . ..... .. - . . . . 126½- l'lO 125 -122 1123 - 115 80¼- 75 · 77~- 74 76 - 72 .... . . . . 100¼-100 104¼-104]4  io1 80 . ... .. .  iii:½=109 .. 94¼- 88½ 108 - 108 93 - 89  ioo½=l09 .. 88 - 78 ... - . ... ... - . . . .  ioo 81 . ... 80  =106 .. - 75 - . ... -  .. . . - ..... . .. - .... . .. . .... - ... . ... . - . ..... .. . . . . - . . .. . .. . - .. .. . .. . . .. - . .... . . . - . . . . . . . .  .... - .... .... - .... .... 95½- 80  ios =106½ 80 - 79 106 - 105 78½- 78  ioo =10s .. 00½- 80 108¼-108¼ 89½- 78½  95¼- ~5  116 - 116 107 - 107 .... - . . . . .... - . ..... . . - . . . . . . . . -· . . . . 87 - 87  s~~~~&~~:~ ~;~!;!;::~ i20  140 - 138 133¼- 131½ 128 -128 127 - 127 .... - .... 125 -120 11 - 118 120 -108 74 - 'iO½ 100¼- 99½  140 - 138 134½- 134½ .... .. 180 -128 113 - 112½ 125 - 125 . .. . - .. . . 120 - 118 77½- 72 98½-- 98½  - 100 ios½=107¼ - 78 85 - 78 - ...... . . - .. . . - 80 80 - O  ~~~~= ~:u ~~~= ~~~ ~~~ = ~~ ... ~~ = ~~~1 .~~ = ~~ .. / 188~=/:!½ T IS T IS 7 -1. 1 117½-116 115¼- 115 113½- 113¼ . . .. - . .. . 110 - 109½ 110 -100 .. . . - . . . .. ... - . . .. 108 - 107 .... - . . . ... . . - ... . 1087,(-103¼ 80 - 77¾ .... - . .. . . .. . - . . . . 62¼- 62½ 67 - 60 66 - 60  1  =1is .. ii;; =li4¼ ii7¾=1i5 .. iis -1is .. i22 -li7½ i2S½=120. . 115 - 113¾ 115 - 113½ 119 -117  2d ......... .... . . .. . ... . . .. 1113 -109¼ 112¾-111½ 112¾-111 115 -112½ 114¾-Jll Ark.Branch . . .... . ... ,- 113 - 109 113 -110½ 112 -109¼ 115 - 118 118 -118 Cairo & Fult'n.-lst, 7 112 -110¼ 111 -109¼ 110½-109¼ 112 -110 117 - 112   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  114 -114 118 - 118 113 -110½ 111 -109½ 104 -102¾ 104 -102 102 - 102 . ... - ... . 00 - 88½ 91 - 00½ 91¾- 00 92½-- 91¾ 108 - 103 . ... - .. . . 104%- 103 106½--104¾ 107½-lOi½ 107¾--106½ 102½-102½ 102 -102 797,,t- 78¼ 'i6¼- 70½ 02%- 88½ 9Htl- 87 . . . . - . . . . . . . . - ... .  ios½=1ci1~Aos½=101·· 10 =106 .. 81 - 80 81 - l 80 - 75 103 - 103 .... - . .. ..... - .. . . 79 - 'i9 80 - 75 . . . - . .. . . ....... - ..... . .. - . . . .. ... - ... . .... - .... . ... - ........ - . . . 92½- 92½ .... - ..... . . . - .. . . ... .... - ..... . .. - .. . 113½-113½ 109 - 107 108 - 105 108 - 105 107 -103 106 - 105 105¼-104 ... .. ... - .... .. . . - . . ... .. . - ........ - ... . . ... - . . .. .. . . - . . . 101 - 100 103¼-1~ 105 -102¾ . ... lOS - 101½ 108½-102½ 108¾-108 106 - 106 l102½--102 102¾;-102½ 102½- 101 102½-102 100 - 99½ 53}:f.- 51 50¼- 51 61 - 56 57½- 44 53 - 40 45 - 40 1 40½- 40 42 - 38 44 - 39½  92 - 87 90 = 8 6 89 - 86 120 1 20 109 -107¼ 100 -109 110 - 110 104 -104 105 -104½ 105 -105  .. . . - .... 115 -111 112½-110 104 -101  114 -112 .. . . - ... . 107¼- 106 .... - . . . 92½- 00½ 94¾- 91 105 -105 106 - 103½ .. - ... . . ... - . . .. 75 - 69¾ 91¾- 87 107 - 107  .... . . .. 11 4 -112 114¾-112 113½-112¾  iui  iio½- lis .. =1i5 .. 11i1 113¾-110½ lll¾-110 113 113 - ~lS 112 -112 112 114½-110¼ 111 - 110 111  . .94 ..½= 90 .. .. 110 - 109 102½- 100 58 - 50  !~~ =~~~¾ ii.7¼=116½  =li5¼ -110½ 110 -107 - 110½ 110 - 110 -110 112 - Jll.~  109¼-108 109½-108½ 115 -110½  52  RAILROAD BONDS. 1881-Concluded.  BONDS.  ----------  JANUARY FEBR'RY.  MARCH .  APBIL.  MAY.  JULY.  JUNE.  AUGUST. SEPT'BER. 0CTOBElt. NoV ' BER.  DEC'BER  - - - - - - - - - - - - - - - - - - - - - - - - - - - 1 - - - - -1- - - · - - - - -I- - - -I- - - High.Low High.Low High.Low High.Low High.Low High.Low High.Low High.Low High.Low High.Low High.Low High.Low  St. Louis & hon Mt.Cairo A1·l1. & Texas. 7 109½-107¾ no -108½ 110 - 110 112 -110 115',£-114 113 -113 112½-112 112 -110 112 -110 111 -110 112 -111½ 108¾-107 Genei·al mort ..... ... . . /i .... - ... .. ..,. - .. . ..... - ....... . - .... 94!>4- 98 95 - 93½ 95¾- 91 93¼- 86 91%- 87¼ 89½- 86 87½- 86½ 87 - 85¼ lst, pref. income ...... 1 98 - 91% 96 - 90 94¾- 91 96¼- 94½ 100 - 95% 100½- 99¾ 101½- 99 99 - 98 99½- 98½ 98 - fl5 99½- 97 99½- 96 2d, pref. income .. .. . . 6 88 - 76 87½- 84¼ 87 - 83½ 89¼- 87½. ~½- 88½ 95 - 94 94 - 93 92 - 89 90 - 90 .... - . .. . 89¼- 87 St.P. ll1inn.& M,-lst .. 7 109½-108½ 111 -109 111 -110 111 - 110½ 113 -110½ 115 - 113¾ 112½-111½ 112 - 112 112 - 111 112 - 111 lll½-110 11278- 111 2d ... . ..... ..... . .... . .... . 6 104 -102½ 106 -105½ .... - .... 102½-102½ 105½- 101¼ 108 -108 1]0 - 109 ... . - .... 109 -109 .... - .... 106 -106 100 -105½ Dakota Extension . . . .6 .. . . - . . . . 107 - l07 106 , 106 107¾-107¾ 107 - 106 108 -107 ... . - .... 107 -107 - .... 106 -106 Scioto Valley-lstcons.1 ... - .... 107 -107 107¼-105 .... - . .. . 105 - 105 108 - 105 103 - 997/4 South Carolina-lst .. . .6 .... - . . . 101 -101 South Side-lst .......... 7105 -103½ 106 -i06 . . . . - .... 104½-104½ .... Sterling I. & RR.Co.Plain income .......... . 6 . . . . - . . .. 38:},(- 37~ 38½- 38½ ... - .. .. 110½-110½ !07½- 100 106½-106 Texas Central-1st s. f.1 . ... 94 - 92 - .... 95½- 93 92¼- 92¼ 90 - 90 89¾- 89½ 90 - 89½ . . . . Texas & St. L.-lst .... 6 . . . . ... 69 - 6tl .... Land g1·aut, income .. 6 .. . . Toi. Delphos & Bu1·.04 -94 05 -95 92 -90 91 - 88 lst, main line .......... 6 .... 97½- 96 90 - 95 98 - 96 98 - 98 100 - 97½ 100 - 100 57 - 57 60½- 53 35¼- 30½ li,t,main line,income 6 ... . 51¼- 48¼ 43½- 89¼ 39½- 34 51½- 40¼ 50 - 47½ 63½- 48¼ 64%- 59 Dayton Div ......... . ... 6 . ... 09½- 99 . . - . . . . 99 - 98 Dayton Div., income.6 ... . 5'.; - 4G 60¼ -45 59 - 59 40 - 40 36½- 36¼ Terminal trust ... . . .. . 6 .... Utah So,-Gen'I mort .. 1110 -109 110 -101:i lOS -109 100¾-109½ llG -110 - . ... 113 -112½ 111 ··1097/4 109%- 107 109 -109 110 - 109½ 110 -110 Wab. St. Louis & Pac.General mo1·t ... ...... . 6 101½- 97¼ 100¼· 0£, 100 - 98 101 - 91) 105,½-100 102½-101 102½-100½ 102 -100 100¾-100 100 - 97% 99 - 96¾ 93½- 87¼ Chic. Div . . .. ...... ...... 5 97½- 97½ .... - .... 93½- 03 95 - 05 100 - 95 l(ll - 98½ 99½- 9,J¾ 94 - 90}.! 95 - 93 94 - 91 92½- 91¾ 91¼- 86½ Havana Div . ... ...... .. 6 99¼- 99 103 -103 101 -101 101½-100 105,½- 103 103¼-103% 103 -103 104 -103 Toi. P. & W.- 1st ..... 7 .... - ... . fl9 -117½ 118 -117¼ 116¼-116 118 - 116 120 -11& 118½-118¼ 118¾- 117 118 - 117½ 117½-117½ 116 -115 116 -114¾ 1st, pf., inc. fo1· 2d ,1 95 - 95 Wabash R'y.-Mort .. 7 110 -107¼ 110 -109½ 110 - 109 108 -106½. 112¼-109½ 111 -110¾ 113¼-lll 112 - 108 110 - 108 108 -108 107½- 107½ Toi.& w.- lst, ext'd.7 114 -114 lll¾-111 ¾ lll¾-110 112 -111 ll3 - 111½ 115 -113½ 115 -115 109½- 108 lOIJ -108 111 -109 lll¼-111½ 112 -112 1st, St. Louis Div .. . .. 7 113½-109¼ 110 -109 l09 - 109 109¼-108 111 -109¼ lll½- 111½ 112 -112 114 -112 109%-106 108½-107¼ 107½-106¼ 108 -107 2d, extended ..... .. .... 7 112 -109¾ lll½- 109¼ 110½-100½ 112 -110½ 111 - 107½ 112 - 112 113½-112 111%-110 111 =11·0·½··· 1.12 ..'. =ll·O· ½·· llOO . _¼=10·9· ·· 11)10 =10 8½ 90 Iowa Div;sion . . ... .. 6 . ... - . ...... 0 Equipment ............ . 7 50 - 36 57 - 41, 53½- 5G 5t, - 5!> 51:1 - 55 . . . . - . . . . 50 - 50 60 - 53 65 - 65 62 62 . .. . Consol., conv ........... 7 111½- 110½ ... . 111½- 110 - ... . 115 -114 . . .. - .... 113 - 110 110 -IOSJ,i 100 - 109 108 -1061108 - 100½ Gt. \-Vestern-lst ...... 7 113 -112 110 - 110 110 -110 111 -110½ lll¾- 111¾ 112 - 112 1J3 -113 109 -109 108 -107½ 108 -108 109 •109 109 - 109 2d ................ . .... . . 1 U0¾-109 112 -lll 110½- 110 111 -110½ 111 - 109 112 -110 112¼-111 112½-111¾ 111 -110¼ ll~-111 108,¼- 108½ 108 -106½ Quincy & Tol.- lst.1 . ... 110 -110 .... - .... 110 -no 119 -119 .... = . ·.·.·. 108 =1 04 110 ..5. =10·~·· Ill. & So. Ia. - 1st ..... , .... 100 100 St. L. Kan. C. & No .. Real estate .......... . 1114 - 112½ 114 -114 112 -100½ 112 -112 113¼- 112 - .... 113 :-113 110 - 115 112½-112½ 112 -111 112 -111 110¼-110 Omaha Div .. ........ 1119 -ll81,f 118½- 118 119½-118¾ 116¼-116¼ 119¾- 116 120¼-119¾ 118 -117½; 118:)4- 116½ 118½-117 114 -113½ 114%-114 114½- 112 Cla1•imla B1·anch . . . 6 105 - 103 105 -100 .. .. - . . . . 99 - 96 100 -100 105 -105 ... . - ....... . St. Chas. Brid::-e. 7-8 105 - 103 104 -102½ 104½-103¼ lOl}s-100 103,½-100½ 107 -103¾ 100¾-100% .... No1·tb. Mo.-lst ...... 7 122 -121 123½-122.½ 123½-123 .... - ... . 125 -125 126½-126½ 123 -123 123½-122½ . ... - . ... 123 -121¾ 123 - 122 124¼-123 Wabash-Fund'd int.Dec. & E. St. Louis.6 103 - 103 100 - 98 . .. . - .... 102 - 102 105 -105 106 - 106 .... - .... 100 - 100 Quincy & Toledo .... 5 95 - 95 97 - 97° .... 105 -105 106 - 106 . . .. L.E. Wab.&St.L .. 7 .. .. - .... 108 - 108 . . .. - .... 107 - 107 Toi. & Wab.-2d ... .6 .... - . ... 100 -100 . . .. 105 -105 Wab. & West.-2d. 6 .... - .... 102 -102 105 -105 Gt. Westei·n-lst .... 6 .. . . - . ... 102 =102 · ·1:::: 2d . .... .. .... .. . .. . . .6 ... . -· . ... 100 - 100 - .... 105 -105 105 -105 - . ... 100 - 100 .... - 110 Ill. & So, Ia.-lst .. 7 .... Consol., convert ... .. 6 100½- 100½ 100 - . . .. 100 - 100 Wal'l'en RR,-2d ....... 7 . ... - .... 1124 West. Union-Coup ..... 7 120 -117 .. . . ::; :: :::. :.•.·.• 1:. :...:. - .... 118½-118¼ Reg .... . ... .. .. . . ........ 1121 -117 .. . . ... 1191,/2-119 120 -120 121½-121 .... . ... 120 - 120 119¾-119½ ... - ... . 117½-117¼  =:: ••1~;~=~~~~'1t: dII¼1~22 :1~~~1:: ½:~: ½1~:rl: ~~1· •·• ~  111~  1882. BONDS.  JANU.ARY FEBR'RY.  M.ARCH.  APRIL.  MAY.  JULY.  AUGUST. SEPT'BER. OCTOBER. Nov'BER. DEC'BER.  High.Low High.Low High.Low Hillh.Low High.Low High.Low High.Low High.Low High.Low High.Low Jli&"h.Low High.Low  ---------1---- -- - - - - - - - - 1----1-- - - 1 - - - -  ----  Atlantic & Pac.-lst ... 6 l-18 - 95 95 - 94 97 - 95¼ 97 - 95 100>1- 97 101¾-100¾ 100 - 98 99½- 98½ .... - . . . . 97 - 97 97½- 97 97¼- 96 Income .... ............. . 6 37½- 37½ 34 - 28 83½- 33 .... - . . . . 28 - 28 33½- 81 Allea-h. Cent.-let ..... . 6 .... - .... .... - .... 103 -103 ... . B.& O.-lst, Park. Br.6 .... - .... . . . . - .. .. US -117 Bost. H. & E1·ie.-:.i st . . 1 60 - 61 64¼- 52½ 55 - 46 53 - 47¾ 50¾- 47¾ 53 - 46 59 - 52 56¼- 53¾ 60 - 55¼ 54¼- 5378 51¼- 44 50 - 46½ B'klyn B. & C. 1.-lst .6 .... - ........ - . . . . . . . . - ... .... . - .... 105½- 105½ .... Bur. C.R. &N.-lst ... I) 100¼- 99½ 100 - 98½ 10~- 98% 103½- 99!14102¼-10!½ 102¼- 9~ 102 -101¼ 102¾-101¾ 101%-iOO 101½-100¼ 102¾-101¼ 100%-- 99¾ C.R. Ia.F.& N.-lst .. 6 .. .. - ........ - .... 105 -105 102 -102 104 -102 100 -100 .... - .... 108 -108 .... - . .. .... . - .... 106 ·106 106 -106 Cenn·al Iowa-1st ... ... 1115½-112½ lll½-111 · 111 -109½ 112 -110½ 114½-112½ 113¼-113½ 114 -113¼ 111½-110¼ 111 -108 110 -108 109 -108 112 -108 Debt certs .... ............. .... - ........ - . . . . 75 - 75 - ........ - . . . . 65 - 65 65 - 65 60¼- 60½ .... - . .. . Cent.RR.ofN.J.-lst .. 7 119¾-118¼ 115¼-115 116½-115 118 -115¼ 118½-ll~ 118½-117 119 -118¼ IHI -115¼ 116 -116 110½- 114¾ 117 -116 .... - . .. . Consol., assented ..... 1115¼-112½ 115¼-11.!% 114%- 111 112½-108 111½-109½ 11::. -109¾ lll¼-108¾ lll½-109 110¾.-109 109½- 108¾ 109½-107½ 110 -107¼ Conv., assented ...... . 1115 -114 115½-114 116½-114 119 -111 110½-108% 109¾-107½ 109:)(-109¾ 112¼-111½ 110¼-109 113½-110 108½- 108¼ 108%-107¼ Adjustment ...... ....... 1109½-105 108¼-103½ 106 -104 107 -106 107 -106 106½-103% 107½-106 108 -107½ 111 -110 108 -107 105½- 105 106 -104 Income ......... . .. ..... 1103%-101½ 103½-10178 101 - 1:10 96 - 95 00 - 90 90 - 86 93 - 90 .... - ... . 87 - 81½ 85 - 80 85 - 82 Leh.& W .B.-Assent 7 108¼-lOi½ 108¼-1Q6 10:3 -102½ 105¼-101,4 106 -103 102 - 99¾ 107 -108½ 107 -106¾ 105 -103½ 103 -100 102¾- 101½ 101:)(-100 Income ................. 7 . .. . - .... 92 - 90¾ 87 - 86 90 - 89¼ 83½- 83½ 80 - 80 85 - 83 85 - 85 85 - 85 Am. Dock & Imp ..... . ;'.> 101 -100 100 -100 97 - 97 .... - . . . . 93 - 94 - . . . . 94½- 92½ 95 - 94 93 - 93 91 - 91 93 - 93 Cha1·l.Col.&Aug.-lst.1 .... - ........ - ........ - . . . . 108 -108 ... . Ches.&O.-Pm·.M.fd .. 6 .... - .... 114 -112 - ........ - .... 116 -116 .. .. . ... 108 -108 .... - .... 114%-114¼ 116 -116 114½- 114½ .... Se1·ies A . ... .. ..... .. ... 6 104 -101 102½-102 103 -108 100½-100 101 -100 101½-100 106 -102 108¼-105¾ 108 -107¾ 104½- 104 104¼-104 106 -104 Series B ...... .... .. .. . 6 82½- 80¼ ~2¼- 78 81 - 75 82½- 80 78 82 - 7d¼ 81 - 77¾ 86 - 80½ 86 - 84¾ 88 - 85½ • 90 - 86½ 87¾- 84½ 88¾- 86 Cur., int defel'l'ed .. .. . 6 53½- 50½ u2 - 45½ 49 - 40 48½- 48½ 49 - 45 48¾- 44 54½- 47¼ 54¼- 50½ 55¼- 51 56 - 52 54½- 49 54½- 51 Mortgage, 1911. . .... . 6 .... - .... lOu½-100¾ . .. . - .... 100 -100 . . .. - .. . . 102 - 101 102½-101% .... - . .... . . . - .. . . 100 -100 Chic. & Alton-1st . ... . 7 121 -119½ .... - .... 123 -122 120 -126 .... - .. . . 122 -122 122 -122 122 -120 122 -122 120 - 120 120 -120 Income ....... ....... ... 7 103 -102 104 -104 103 -103 101 -101 . ... - ........ - . . ...... - . ... 10()%-100¼ .... - ... . Sinking fund ...... . . ... ti 115 -112 - .... 114½-114½ 115 -114½ 112%- 112 113~-118 114 -113½ 114 -111 114½-114½ 116¼- 115 112 -112 114¾-112½ Lou.& lllo. Riv.-1s~ .7 119 -118 - .... 113 -113 115;,(-115¼ .. . . .... . , - .... .... . ...... .  s~~;.:-;:&·«)·hi~~.:..:i~;::; iio  !:::~!::::·::· ::::·:::! ::::  =  Denver Div,, 1922.4½1•··· -  c~!:·o'!:.:.~~~:~~~~:.~.-.~:: ~~~   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  ~~~  1 =llfi½ .... - :::. iis½=li5½ = ~~ .. ii:i =1ia·· 10! -103¾ 104 -104 104:)4-104¾ l05¾-1L5 - •.•..... - • . . . . •. - . . . . •. . - •... 126¾-125~2 1.26¾-125¾ 128;1,£-127 129 -128  Chic. Bui•. & Q.- 1 st ... 8 103½-103 Siuking fuud ...... ..... /> .••• - . Consol . ... .... ... ........ 7127¼-126  115 105 107 132  -115 - .... 118 -116 -105 101½-101½ 101½-101½ -103½ .... - .... 105 - 105 -180 128½-127 128½-127  11s =1is·· . ... - .... 104¼-104 128 -127¾  :::: = :::: 102¼-102 102¼-101¾ 128 - 127¾  iia =1io·· 1:::: = :::: 103¼-102¾ 103%--103¾ 102¾-102¾ . ... 129 -128½ 129,4-128½  ·ss = ss·· :::· = ::::1-i~o =85½ 1~~~=1~~: ·ss = 86~~·87¾= s1·· ·87½= 84 .. ·87¾= 87 .. ·84½= 84¼ ·84¾~ 84½1·87½= 84¼ . . .. .... . ... 1.... - ··· ·1 ···· - ····1···· - .... 84¾- 84 85 ·· 84 184¾- 83183¼- 83185.½- 84!}.t  =1~~ ..  J:::: - ::::]:::· - : : : r~¼= 9~~ :::  ~~.½= ~~ ..  = :::·. .  1~ -100  100  99½ 90 -  ~~-·(1  ~10~ ···  ~~  = 9: .. ~; = :;  -  53  RAILROAIJ~ BO.NIJS. I S§2-Continued. J.ANU.ARY FEBR'RY.  BONDS.  I  M.ARCH.  .APRIL.  MAY.  JUNE.  JULY.  AUGUST. SEPT'BER. OCTOBER. Nov'BER. DEC'BER.  High. Low High. Low High. Low High. Low High. Low High. Low High. Low High. Low High. Low High. Low High. Low High. :;:,ow  - - - - · - -·- - - - ·- - - -  - - - - · ----- · - - - - - - - - - - - - - - - - - - - - - - - - - - - - --- ·--Chic. MU.& St. P.-lst.8 136 -136 135 -131¼ 132½-132 133½-133 134¾-134x, 135 -134½ 134 -134 .... - .... 133 -130 133 -131 135 -133 133 -133 2d .................. 7 3 - 10 121 -120 .... - .... 120 -120 120 -119 121½-1'21½ 122 -122 124 -124 /124 -118 129 -129 125)4-125 - .... 125 -125 1st, a-old ................. 7 125 -123½ 125½-125 125½-125½ 127 -125 127 -127 124 -122 124 -124 1.... - .... 125 -124½ 127½-124¼ 130 -129 .... 1st La Crosse Div .... 7 121 -115¾ 118½-117 121½-116 122 -118¾ 120 -120 122½-120 118¼-116¼ 122 -121 129 -127½ 125¾-123 .... - .... 123 -123 1st I. & M. Div ........ 1119 -119 116 -116 120¼-120 120 -119¼ .... - .... 122 -120 .... - .... /122 -122 129 -124 125¼-123 .... - .... 123 -123 1st I. & D. Div ..... 7 .... - .... 125½-124½ .... - .... 123½-122 1st C. & M. Div .... ... 7 123 -122½ 118 -118 - .... 125 -120½ 125 -125 .... - .... 125 -125 128 -128 125 -125 126½-126¼ 126 -122 Consol. .............. .... 7 121½-118¾ 121 -119 122 -118 122 -120 122½-121½ 123 -120½ 121½-119¾ 125 -122½ 129 -124½ 126 -124 125 -124½ 126½-122½ 2d, 1884 .... ...... ...... 7 .... - ........ - .... 102 -102 105 -105 - .... 101)4-101¼ 101¾-101¾ .... 1st I. & D . Exten .... . 1120 -118¼ 116½-llf,½ 121¼-119¾ 121 -119 121 -120 123 -123 121 -121 123 -122 !28 -126 .... - ........ - .... 122 -122 1st So. West Div ...... 6 107 -103½ 107 -106¾ 105½-104 110 -110 109½-108½ 110 -109 - .... 108½-10~½ 110 -108¼ 10 ¾-108½ 110 -110 1st Lac. & Dav ..... . :; 95 - 94 94 - 94 93½- 92¾ 95 - 93 .... - .... 95 - 95 94½- 94½ 94 - 93 94½- 94 94 - 93½ 94 - 94 .... - .... 1st So. Minn. Div . .... 6104½-103 HS¾-103 104½-103 108½-10-t\li, 108%-107½ 110 -108 108¼-106¼ 108½-10': 108¼-10 . ¼ 109 -1~7 109 -107¼ lu9¼-107¼ ht H. & D . Div ....... 1114¼-113¾ 114 -113¾ 115¼-113½ 117½-115 118 -117¼ 119 -117½ lli½-115½ 118¾-118 118)4-117 lli½-117½ 119 -119 120 -119 Chic. & Pac. Div ...... 6 107½-107½ 107 -107 108½-106½ 110 -100 110½-110 111 -110¾ .... - .... 108 -108 110 -108 110 -110 - .... 112 -112 Weste1.·n Div ......... 5 95¾- 93½ 94 - 90 94 - 92 94½- 93% 95 - 93½ 94½- 93% 93½- 91½ 93¾- 93¼ 93½- 92¾ 93 - 92% 93 - 91J,..; 94¼- 91% Mineral Point ....... .. :; {;5 ·· 95 - .. .. 94 - 94 91½- 91½ 92¼- 92 .... - .. . . 91 - 91 90½- 90½ 94 - 93 Chic. &L . Sup. Div .. 5 .... - ........ - ........ - .... 94¾- ll3 Chic. & N.W.-S.F ...... 7 110½-110 107 -107 107¾-107% 107 -107 .... - .... 110¼ -110 .... - .... 107 -lOi Interest ................. 1 .... - ....... - .... 105½-104½ .... - .... 103 -102½ .... - ........ - ........ - .... 104 -104 Consol.. ................. 7 134½-132 131 -131 182 -131 133¼-132 13! -133 133½-131 .... - .... let -131 133 -132 134½-134½ lSS -130 134 -133 Extension ............... 7 .... - .... 107 -107 105½-105½ .... 1st mo1.•t . .......... ...... 7 110½-110½ 107 -107 107½-104 109 -108 110 -109 110 -109 09½-109½ 106¾-105½ 107 -107 107½-1C6½ 1C6,½-106½ 108½-107!!4 Gold, coup .............. 7 127 -123 126%--123 126 -122 129 -125 128¾-127 125¾-124 12,)4-126% 126%-124 126 -125 128%-125½ 128½-126½ 125 -125 Gol d, rea ................ 7 125 -123 - ... 124 -124 - .... 127 -126¾ 125 -123½ 125 -125 .... - .... 125 -125 126½-E6 128 -126½ 125 -124:).! Sinking fund, coup .... ti lll¼-109 112 -110½ 112½-112 llO½HlO 110½-110½ lll¼-111¼ 110½-110½ 111½-111½ 113 -111~ 110½-109 100½-109½ 109½-109½ Reaistered . .. ........ 6 lll¼-111¼ .... - ........ - .... 110 -109 Sinking :fnn,l, coup ... :; 101½-100 101¼-100 101½-101½ 100 - 99 100 -JOO 101¼-100¾ 101¼-lOOJl.t 102 -100¾ 102¾-101½ 99½-98¾ 99½- 98¾ 100 Registeretl. ........ .. a l00¼-100¼ .... 99½- 99 99 Escau.& L. Sup., 1st .. .... - .... 111 -111 Des Ill. & Miu . 1st ..... .... .. .. 121 -121 Iowa l.lliclland-lst ... 8 .... - .... 130 -130 - .... 132 -132 130 -130 .. .. Chic.& Mil.-lst ...... 1122 -118 119 -119 .... - .... 123 -121 122 -121 124 -123 .... W i nona& St.P.-lst.1107 -107 109)4-109¼ 110 -108½ 109%-hl9 110 -110 110 -109¾ 106 -105 107½-lOi½ .... - .... 108 -106½ .... - .... 110 -108½ 2,1.......... ............. 7 120 -120 - .... 126 -120 .... - .... 120½-120 120 -115 _. .... 120 -120 128¼-127 Mil . & lliad.-lst ...... 6 .... - .... 109 -109 - .... 112 -112 114 -114 Chic. R . I . &P.-Coup .. 6 126½-125 127 -126 128 -127 128 -127 128¼-127 130 -128)4128¾-128¾ .... - .... 126 -126 129 -127 .... - .... 128 -127¾ Re11:..... ... . . .. ........ 6 126 -124 126¾-126¾ 127½-127 - ........ - .... 126½-126½ .... - .... 128 -12.., ~~-127¼ Keok'k&DesM.-lst,5 106 -105 105¾-105¾ 105½-104½ 104½-102~ 104 -103¾ 106½-105½ 106¼-106 - .... 105 -HS¼ 102 -100 :v2 -101½ 101¾-101 C.St. L.&N O.-lstcou . 7 115 -115 .... ·- ... 117 -116 ... - .... . .. •· ........ - ... 118 -118 New ............. .... 5 .... - ........ - ........ - .. .. - . ....... - .... 104½-104 103½-102 105 -102% 105½-104¾ 105 -104 .... C. St. P .M .&O .-Cons ... 6 100½- 98% 100¾- 99 101½- 98½ 103¼-101% 106½-102¾ 103¾-100½ 105%-103 105¾-104½ 106½-105½ 108½-106½ 108 -107 110 -104 Chic.8t.P.&M.-bt .. 6112 -108¾ 112 -Ill¼ lll -111 114½-113 113 -111 114 -110 114½-112 112 -110 114 -111 114 -114 111 -110 111 -Ill St. P . & S . City--lst .. 6 110½-109 112½-112 113 -111 110_¾-109½ 111 -109½ 112 -110 lll½-111½ 111½-110 112 -111 110½-109 111 -109¼ 113 -110 Ciu. I.St,L. &C.-Cous.6 .... - .... llS½-118½ .... Cin . Laf. & Cbic,-lst.7 .... - .... 110 -110 .... Cin.-.aud.&Clev.-lst.1 .... - .... 95-95 .... - .... 99¾- 99¾ .... Cin .&Sp.-GdL .S .&lll.S . . . . - .... 111 -111 Cl. C. C.& 1.-lst, s.fd.7 125 -122½ 125 -124 - .... 126 -126 .... - .... 125 -124¼ 124 -123 124½-123 .... - .... 120¼-120¼ 120¾-120¼ 121¾-121 Consol .................... 7 124¾-1'23¼ 124½-124¼ 125 -125 126 -125¼ 124 -124 121 -121 - .... 121½-121 120¼-120¼ Col . Coal & 1.- lst,con.6 90 - 88 92 - 90 91 - 90½ 87½- 86 02 - 85½ 93½- 90 87¼· 86½ 87 - 84 93 - 02 93 - fll 85 - 83 83½- 82½ Co lum .& Greenv.-lst.6 .... - .... 105 -105 102½-102½ 102 -102 103 - 102¾ .... 2d mo1.·t .................. 6 .... - .. .. 96 - fl5 - .. .. 88¼- 88¼ 88½- 88½ .. .. - . .. . .. .. - .. .. .. .. D el. &Hnd.C.-lst,'84.1105 -103% 105½-105 105.¼i-105½ 106!¼;-105¼ 107 -106¼ 107 -HJ7 106 -105½ 107 -106 106)4-106 105½-105½ 105~-105% 107 -106½ 7 s, 1891 ................. 7 113½-112 . 115 -112½ 116 -114½ 116 -115 118 -115½ 117 -116 115½-113 117 -115 .... - .. .. 116½-115 116 -115½ 116 -116 1st, extension .......... 7 .... - ........ - .... 116 -116 Coupon, 1894 .......... 7 119½-117½ 118 -118 118 -118 116½-115½ 117 -116½ .... - .... 119 -118 118½-118 .... - .... 115 -113½ 113¾-113 li5 -:14 Registe1.·ed, 1894 ..... 7 116½-116½ 118 -118 118 -!.18 115½-115 117 -117 117 -117 . . .. Penna. Div.-Coup .... 7 128 -128 •.... - .. ., 1£0¼-120¼ 125½-125½ 125¼-122¼ 126 -126 .. .. - .... 130 -129 128 -128 .... - .... 120 -120 Registered.......... 7 ... . - .. .. .. .. - .. .. .. . . - .... 125½-125½ . . .. - .. .. .. .. - .... 130¼-130 .... A lb. & Snsq.-lst m .. 7 .... - .... 113½-113½ .... - .... 113½-113½ .... - ........ - .... 113 -113 113 -113 .... 2d m01.·t ................ 7 US -108 .... - .... 108%-108 105½-105½ 105 -105 - .... 107½-107½ .... - .... 105 -104½ 105½-104½ 106¼-106 1st conso l. gua1.• ..... 7 124¾-12-1¾ HIS -128 .... - .... 126 -125 125¼-125¾ 125 -125 - .... 126½-126½ .... - .... 124 -124 .... - .... 125 -121½ Rens. & Sar.-lst,cp.7 136 -133 .... Del. Lac. & W.-Uonv.1 .... - .... 130 -~SO 127½-127½ .... - .... 116¾-116 Con., 1907 ............. 7 . ... - ........ - .... 128 -127 , .... - .... 130 -130 128:),(-127 Sy1.•. Bin .& N . Y., 1st .. 7 123½-123 . . - ... . 122½-120 124 -122 - .... 123½-123½ .... - .... 122 -122 126½-126½ Mouis & Essex-lst.7 138 -136 136½-134 136½-134 .HO -186¾ 186 -135½ 136 -133 137 -135 .... - .... 140 -137½ 140 -138 135 -135 .... - .... 2d mort .. . ............. 7 lJ7 -116 - .... 115 -115 116 -115 !16¾-116¾ 115 -ll5 117 -117 114 -112¾ 113¼-lIS¼ 115 -115 115½-114¼ 115 -115 7s, 1871. ............. 7 125 -122½ 123 -122 .... - .... 122½-121½ 122½-122 121¾-121 .... - .... 123½-123½ 124 -120 121 -121 121 -121 121½-120¾ Con . , g-uar .... ...... .. 7 12-t¾-123% 125 -122 123 -120 125¾-123¾ 126 -125 121¾-121 121¾-121 124¼-121¾ 125½-124 125½-124 125½-124 122½-120¾ Denver & Rio G .-lst.7 114¼-112~ 114 -112¼ 113¾-112¼ 114¼-113 113½-112 113¼-112¼ 116½-112½ 115½-llS½ ,15½-113½ i15¾-113 109½-105 109¼-107 Consol. ........ ........... 1106 -102¼ 105 - OS½ 104½- 99 106½-lOS¾ 108~4-105 105½-103½ 102¾-101 102¼- 96 100 - 98½ 98½- 94 96 - 90½ 96¼- 90 De nv . So. P. & P .-ls!.7 1~5¾-101½ 101½-1~1½ 103 -101 105 -103½ 102 -100 101½-100¼ 101~-101½1101%-101 102½-101½ 102¼-102 97½- 97½ 100 - 99 Des M . & Ft. D .-lst, rnc 15¾- 73½ 73 - ,s .... - ........ - ........ - ....... . Der . 111. & JUarq .-lst .. 6 .... 95 - .94 92 - 91½ .... - .... 89 - 89 .... D ubu que & Dak.-lst 6 .... .... 99 - 98½ .... E. Tenn. V. & G.-lst .. 7 115 -113){ 115½-115 .... - .... 113 -113 .... .. .. 115 -113 .... - .... 114½-114 .... Consol. ...... ...... ...... a 80 - 78 78 - 75 76 - 60 76½- i4 77 - 76¾ 76 - 75 78½- 73¼ 77¾- 73¾ 75½- 71½ 75 - 71½ 74¼- 70 76 - 73 ,Divisi onal . ............ . 5 .... - .... ... - .... 95 - 90 .... - .... 91 - 91 .... - .... 92½- 92½ .... - .... 100½-100½ .... Incom e ................ .. 6 58¼- 54,,f 56½- 52 53½- 47 50 - 47½ 50½- 46½ 47½- 44 49 - 46 48%- 42 46 - 42 45 - 38 43 - 37 40¾- SO¾ E liz. City& Nor:f.-lnc. 6 37 - 37 .... E liz . Lex. & Big. S .... 6 .... - ........ - .... 100 - 83 99½- 98% .... - .. .. 99 - 93 96 - 94 96 - 96 95 - 95 97 - 95 96 - 94 95 - 93 Erie-1st, Extended .... 7 126 -126 126 -126 126½-126 .... - .... 127½-127½ .... - . ....... - .... 180 -130 126½-126¾ 128½-128 125 -124½ 124 -;22 2d, Ext ........... ...... . a lO'i½-106 .... - .... 1.08 -103 107 -107 110 -110 111 -110¼ 111 -111 111 -111 .... - .... 108½-108½ 108½-108,½ 109½-109½ 3d .. .............. ..... 7 107 -105% 107¾-107½ 104½-102½ 105 -104 106 -104% 105¾-104 104%-104¼ 105 -104½ 101%-100½ 101½-100¾ 102 -101¾ 102½-102 4 t h, Ext .... ........... .. a 112 -112 108 -108 108 -1077/4 107¼-1057-2 107 -107 107½-107 107½-107½ 109 -109 108¾-108¼ 105 -105 107½-106½ 107½-107½ 5 th ........................ 7 112 -112 113 -112 112 -112 111 -111 112½-112 110 -110 .... - .... 113 -113 111¾-111¾ .... 1st, consol. , gold ...... ?' 130 -129½ 131 -129¾ 126¾-125 126¾-125¾ 126¼--126½ !27¾-126 130 -127 130¼-129 127½-126½ 127 -125 127 -125½ 130 -126 1st cons. :fd. coup ...... 7 . ... - .... 106¼-lO~M Lona- Dock .............. 7 120 -120 .... - .... 119 -119 118 -118 118 -118 116 -116 .... - .... 116 -116 116 -116 121 -121 117 -117 Buff. N . Y . &E.-lst.1 .... - .... 130 -122 .... .. .... 130 -180 .... - .... 132 -132 .... - .... 132 -132 N . Y.L.E. &W.New, 2d consol.. .. .. 6 100¼- 97¼ 99¾- 94¾ 98 - 91 06 - 92¼ 97½- 92½ 95½- 87¾ 99 - 94¾ 08½- 96% 100½- 97¾ 100,fr- 98½ 100¼- 98 97¾- 95¼ 2 d cons. fund. coup. 5 96½- 94¼ 96½- 92½ 95 - 88½ 91¼- 89¾ 93 - 89½ 91½- 8'i½ 94¼- 90¾ 95 - 93½ 97½- 94½ . . . . - . . . . 98 - 96¼ 96 -· 96 Income ................ 6 .... - ........ - .... 75-75 .... E rie & Pittsb,-Consol. 1105 -105 .... Ev. & T . Haute-Cou .. 6 98 - 96 96 - 96 05½- 94 .... - .... 98 - 95 97 - 06½ 97 - 95½ 97 - 95 96%- 96 96¾- 96 97 - 96 100½- 97 Flint & P . M .-lUoi-t ... 6 .... - ........ - .... 115 -115 111%-111¼ 112¾-112¾ 113¼-113¼ 113½-113½ .... - ........ - .... 112~4-112~ l!'t.W .&Df'nv.C.-lst .6 .... - .. . .... ' - .... 91½- 90% 96½- 88½ 98½- 96¼ 98¾- 977/4 98½- 97½ 97¾- 69 73½- 71 67 - 66 Gal . H . & SanA.-lst .. 6 tOS½-103 103 -103 .... - .... 103 -103 104 -104 .... - .... 104½-104½ .... ~ 2d, inc ................... 1 .... - .... 109 -109 .... Gal. H . & H.-lst ...... 6 86 - 86 Gr.B.W.&St. P . -lst .. 6 95 - 04 92½- 90 88 - 83 85 - 82½ 85 - 84 85 - 83 35 - 35 84 - 84   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  54  ,RAILROAD BONDS.  mlli~-~-----~-:' 1882-Contioued.  JANUARY FEBR'l-tY.  , BONDS.  MARCH.  MAY .  APRIL.  JULY.  J U NE.  AUGUS'.1.'. SEPT'BER. OCTOBER. NOV'BER.  DEC'BER.  I O ,. Gr. B . W. &St. P.2d, income ..... ... ..... 8 . .. - .... 33 - 33 25½- 25¾ . . . . - . . . . 21 - 20 20 - 18¼ 26 - 20 28 - 25 25 - 24 . . . . Gulf Col. & S. F.- lst .. 7 108 - 105½ 107 ·106¼ 108½-107½ 108½-108 108½-107¾ 108¾-107½ 106¾-104% 109 -1071/2 1(,8 - 107 108 - 107 109 -107 112½-109 Han. & St. Jo.-Conv . .8109 -107% 110 -108½ 106 -104 107 -105½ 107 · 106 107,4-106 107¾-106½ 108½-107½ 106 -104½ :06 -104 105 -104½ 107 - 105 Consol.. . . ....... . . .. . .6 113)4-113¼ . .. . - . ... 104 -104 106 - 103 10$¾-102¾ 100¼-102 . . . . - .. .. 106½-106 104 -103 103¾-103¾ 104 -104 107. -106½ - ..... . .. - ... 97½- 97¼ .... Bons.E.&W.Tex.- lst7 .... - . .. . - . ....... - . ... 102¾-102 .... Houston & Tex. Cent.1st, Ma.in Line ........ 7 lll½-110 lllll(- 111 112)4-110 113 -111½ 112 - 111¾ 113. -112 110 - 108½ 114½-110 112 -109½ 111 - 109 110:,4-109 112 -110 1st, Western Div ...... 7 108 - 107½ 107¾- 107 1077,1j-107¾ 109 -1077,/4 .... - .... 109 -107 106½-106 106½-106½ 108%-106 110 - 110 107 - 107 Waco & No. Div .... . 7 ... . - ... . 111 - 111 - . . . . 110½-110½ 112½-112 110 -110 - .. .. 111 - 111 113 -113 2d, Main Line ... . ..... 8 124 -122 124 - 124 123½-117 121 - 118½ 120 - 119 119¼-119¾ 126½-126 126 -126 125 - 125 121 - 121 120 -120 l~O -119¾ General m01·t .... ... .. .6 99½- 99¼; 98 - 98 - . . . . 97 - 97 .... - . . . . 99½- 99½ 102 - 100 .... 97 - 97 99 - 98 Hlinois Cen.-:t'lid.Dflv .~ .... .... 108 - 108 Cedar F. & M., 1st . .. 7 ll2 - 112 .... - .. . . 105 -H•5 112 -112 .. .. - .. .. 117 -109 .... Dnbuq.&S.City lst .. 7 .... .... 111 -111 2d .. . .. .... . .. .. . . . 7 .... - .. .. 114 - 114 Ind.Bl.& W.- lst, p1.·ef.7 .... - . ... 118 -118 117%-117¾ . ... ... . 119 -119 ... . - .... 118¾-118¾ 119 -119 1st . ......... .. . .. .. .4, ~. 6 111¼- 89½ 90 - Sil ~O - So½ 89 - 89 90 - 89 90 - 90 90 - 90 . . . . - . . . . 91 - 89 88 - 87 90 - 88¾ 90 - 87 2d ... . .. .... . ... . .. 4, ~. 6 81 - 80 .... 77 - 73 74 - 73½ 75 - 75 75 - 73 75 - 75 74 ·- 73½ 76½- 75¼ . . . . 76 - 76 . ... Eastern Div.... .. . . ..... . . . . 97¼- 96 93 - 92½ 95¾- 91 93 - 93 95¾- 95 96 - 95 95 - 93 Con. income . .. .... 6 . .. . 60 - 59 60 - 56 60 - 59½ 51 - 47½ 50 - 48½ 50 - 48½ Iud. Dec. & Sp.-lst ... . 7 105 - 103½ 104½-lOS~i, 103¼-lOS LOl½-100 102 -101½ 103 -103 103 -102 104 -103 104 103½ 101 -100¾ 101½-100 101¾-100 2d, inco,ne.. ... . . . . . . . . . . 70 - 69 .. . . - . .. . 60 - 60 .... - ... . ... . - . . . . 76 - 76 .... - ........ Inter. & Gt. No.- tst .. 6 107½-lOtl½ 107 - 106 107!4-106¾ 107½-106 105¼-104 106!4-105 106¾-106 106 -105 106 - 105¾ 106½- 105¾ 104 -101 105½-103 Coupon, 1909 . .. ...... . 6 91 - 90 90¼- 89 86 - 84 o4½- 84¼ 89 - 84½ 89½- 87½ 89½- 86½ 88 - 85 84 - 83 84 - 80 84 - 81½ 84½- 82 2d, inco111e .............. 8 .... - .. ...... - ... ... .. - . . . . 89 - 87 ...• - ... ..... - ........ Jeff"erson- lst . .......... 7 .... - ........ - . .... .. . - ... 105 -105 .... - . . .. 105¼-105¼ 106 -105 . ... Kentucky Cent1•al. . .. 6 . ... - .. . ..... - ........ - .... 107½-107½ .... Lake Erie & w.-ht .. 6 107½-106½ 104½-104¼ 104 -102½ 104 -101 102½- 101½ 101 - 99¾ 106 -103 102 - 102 102½-101½ 101½-100¾ 10()%-100 100 - 100 Income ... . . . .... . . .. . ... 6 54 - 54 53 - 50 55 - 52 52½- 52½ .... - . . .. 45 - 45 61!4- 48 58 - 54 54½- 54 54 - 48 .. .. - ....... . Sandusky Div.- lnc .. 6 54 - 54 .. . . 50 - 50 .... - . . . . 53 - 50 51 - 49 Lnf. Bl. & M.-lst ... . 6 103 - 102 103 - 102 103¾-101 104 - 102½ 100)~- 99¾ 100 - 99¾ 101¼- 99½ 102 - 101 102 -102 104 - 102½ 100¼'.- 99¼ .... lncon1e .. .. .. .7 .... - .... .... - .... .... - .... .... - . . . 57 - 55 . . . . Lake Sh. & Mich. So.M. S. & N. I. Skg, ft1 .. 7 lO>;'!i-107¼ 108½- 108 lOS½-108¾ 110 -109 107 -106¼ 107½ 107.½ 108 - 106½ 107½-107½ 107½-107½ 108.½- 108 105 -104½ 105¼- 105¼ Clev. & Tol.-Skg. fd.1108 - 107¼ 107½-107½ ... ·- ....... . - .... 109%-108½ . . . . - .... 107¾-107 107 - 107 106 - 106 106 - 106 New ... .... ... .... .. ... 7 110,4-109¼ .. .. .. - .... 109 - 107 . . . . - . ... . .. . . .. . 108½-108¼ ... . - ... . 118 - 117 ... . CI.Pains.&Ash ..... .. 7 .. .. - ... . - .... 11~ - 114 . . . . .. .. 109 - 109 . .. . - .... 123½-123½ 122 -119 122¾-122½ 122 - 122 . .. . Bu f.i. •-,-New .... 7 124 -122 . . . . 120 - 120 122 -121¾ . ... - ... . 122 -121 . . . .. - .... 122¾-122¾ ... . Det. M. & ·.1·01.- :=. :: 7 125¼- 125 - . . . . .. . - ... . 122 -122 L. Shore-Dividend .. 7 124 -122 .. .. 122½- 122 120 - 120 120½-120½ . . . . Con. coup., 1st ..... .. 7 130 -130 - . .. . 12g 126 127!}.t- 127½ 126 -125¾ 128 -128 127½-127.½ 126 - 125 .. . . - . . . . 128 - 128 ... . - .... . ... Con. 1.•eg., 1st . . .... . . 7 128 - 125 126½-125½ 125 -125 126 -126 125½- 125½ 126 -126 126 -126 125 - 125 126 - 124)4 125 - 124½ 125 -125 . . . . Con. coup., 2cl.. ...... 7 125 - 125 130 - 130 - .. . . ... - . ... 124 -124 123½- 123 123 - 123 125¾-125½ 128 -123½ 124½-123 .... Con. 1.·ea., 2d . .. . . ... . 7 124½-12.1½ 126½-126 124 -1231.o .. . . - . . . . 126 - 12} 123½-123¾ 12~' 122 125 -124 126 -126 125¼-124 . . . - ... . 122 -120 Little Miami-1st ... .. ... .... - ........ - .... 100½-100.½ .... - ....... . - ........ - . . .. 101 -101 Long lslancl- lst . . .... . .7 . . . - . . . . 115 -115 - .... ng -us 116¼-116~~ 117 -117 .. .. _ . . .... . . - ........ - .... 123½-121 1.16 -115 115 -115 1st, consol. . .. ........ ~ . . . . - . . . . 98¾- 97¾ 97¾- 97)4 98 - 97½ 97¾- 97.½ 98 - 97¾ 98¼- 97¾ 98 - 97½ 98¾- 98¾ 98½- 98¾ Louisville &Nashv.Consol. . ........ .. . .. .. . .. 7 123 - 121 123 - 122 121 -121 117¾-117¾ 118 - 117½ 118 -117 11.7½- 116¾ 118¾-118 120 - 118½ 115:}4- 114½ 115½-114½ 115¼-114½ 2d, gold ...... . .... . .... .. 7 .... - . . . 103 -103 - .... 101 - 101 .... - .... 102 - 101 ... - . . . . 99¼- 98 Cecilian Branch .. . ... 7 . ... - .... lll½-108¼ 107 -104 104 -104 - . . .. 106½-105¼ 110 - 108 106½-106½ 105 -105 1C5½-105½ 105 -102 N. O. Mob. & T.- 1st.6 100 - 99½ . . .. - .... 95 - 90 95 - 94½ 98 - 95 .... - . ... 93.½- 92 92½- 92½ 90 - 85 90 - 87 90 - 90 IJ4 - 90 E. H. & Nash.-lst.- -6 .. .. - .... 102½-100 9o - 98 - .... 101 - 101 98 - 98 . ... .•. ... 100 - 99),( 100 -100 95 - 95 .... Gen'I mort .............. 6 102 - 100.½ 101½- 95¾ 99½- 95 100 - 98¾ 100 - 98¾ 97½- 94½ 96 - 94½ 96 - 95 95¼- 92 90¾- 85 90¾- 87 90 -8~½ Pensacola Div .... ..... 6 . .. . - .... 95 - 95 St. Louis Div.-lst . -- 6 107¾-107¾ 107 -107 104½-104 105 - 105 .... - . . . . 108 - 107 . . .. 100½-100½ . . . . 2d . . .. . ................ .. 3 55 - 55 - ... . 52¾- 51½ ... . - . . . . 54 - 54 .. . . - . . . . . . . . . . . . 52 - 52 5; - 51 .. . Nash. & Decatur ... . . . 7 ... . - ... . .. . 122 -120 122 •-122 115 - 115 Lou. N. Alb. & C.-lst .6 101½-100½ L02 -lG0>1i 103 -101 103½-103 103¼- 103 108:¼-103 102¼-100¼ 104 -104 lf3¾-1021/ 'iJ4 - 103 103½-103 105 -104 Man. B. Imp. Co.-1st .7 ... - ...... . - .... 85 - 85 90 - 84 90 - 90 80 - 80 .... - .... 88 - 88 Ma1.•ietta& Cin.-lst . . 7 115½-115½ .... - .. .. .... .lUetropolitan El.-lst .. 6 101½- 99.½ 101 - 100¼ 101¼-100.½ 102 -100¾ 102½-101 104 -101½ 101 - 99 99¼- 98¾ 100 - 99 WO - 95¾ 100¾- 98½ 102½- 98¾ 2d ....... . ......... . ....... 6 90 - 89 91 - 90 94 - 89¼ 96 - 94 90 - 90 91 - 89 91¾- 90 90 - 90 90 - 90 90 - 86 87 - 85½ 88 - 86 Mich. Cenn·al-Cousol.7 125 - 123¾ 126¼- 125 128¼-125¼ 128 -127 125¼- 124¾ 124½-123½ 125½- 123 125 - 124 125}:.{- 125¼ 128½-127½ 122 -122 123 - 122¼ Sinkinir fund ........... 8 103½-103½ 104 -104 105½- 104% . . . . Equipment .. . .. . ...... .8 . ... - . .. . 104 -104 Coupon, 1931. ... .... . . I) 98 - 97 95¾- 97 96¼- 94 98 - 97 98¾- 98 103 - 99½ 104 -103¼ 102 - W2 98 - 98 98 - 97 102 - 99 t 1 - 101 Reg., 1931 .. ...... . ..... ~ .. .. - . . . . 9tl - 9tl - . . . . 98 - 98 .. .. 98 - 97 .. . . Jnck. Lan. & Sag .... 6 110¾- 110¼ ... . - ....... - . . .. . . . . - .... 106 -106 . . . . Mitl.ofN . .J.-lst ... .4-~-6 . . . - . . .. 89¼- 897/4 . .. 86½- 86 86 - 86 J.Uil. L. Sh. &W.- lst .. 6 102 - 99 100¾- 99¼ 100 - 99½ 10S78-·!.0o 102 - 99¾ 101 -100¾ 102 -100½ 101¼-101 102 - 101 102 -100½ 99½- 97 ~9 - {;8 Income ... .............. . 6 .. .. - .... 76 - 75 .... - ... . 71l ·· 79 79 - 77½ 78¼- 77.½ 76¼- 75½ 81½- 77 82 - 81% 78 - 78 80 - 79 80½- a Mil. & No.-lst . ..... .IJ-6 .... - . . . . 92 - 92 .. . - . . . . ... - .. . . 98 - 98 . , - . · · .. . . . - . . . . 94 - 91 Miuneap.& St.L.-lst . 7115 - 114½_ 115)4-114½ t15¾-l15 118 -115½ .... - .. .. .. .. - .. . 116 - 115½ 115}:.{-115 116¾-115 16 -116 119 - 118 , ... . Iowa Extension ...... 7 111 - tlO 112 - 111 112¼-112 112 - 112 114)4- 113½ 112 - 111½ .... - .... 111½-111.½ 112 - 112 - .... 114 - 113 115 -115 ~d .... .. ... . . .. ......... 7 ... . - . ... 100 - 90 . ... .... . . . . .... - .... 103 -100½ 101 - 101 So.West.Ext.-191O.7 .... - . . . . .. . . ·- ... 110 -1097/4110¼-110½ .... - .... 111½-111),( - ... . 112 - 112 ... . Pacific Ext .... . ......... 6 .. .. - .... 101¾-101½ .... - ... . 102 - 101¾ . . . . - . . . . . . . . . . . . 99 - 98½ 1 Mo.K.&T.-Gen. con .. 6 84 - 81 84.½- 77 82 - 75½ 82¼- 80½ 83%- 81 86 - 76 89 - 85¼ Bi½- 84½ 88 - 85½ s;½- 84 87½- 82% 1• • •• - •• •• Consol. .................. 7 107¾- 105¾ 105 •··102 105½-100¼ 105½-104¾ 106 -105 106!1;-U.> ~ 110 - lOi½ 107 - 105% 106¾- 106 107 - 104¾ 106½-104½ \107¼-105½ 2d, income ........... .. . 6 i3 - 69 70¾- 59 68½- 59 65 - 61¾ 62½- 60 63½- 54½ 70 •· 63½ 69¼- 67% 68½- 67 62½- 60 61½- 53 57½- 55¼ Han.&Cen.Mo.-lst.710 6 -106 108 -108 - .... 108½-107 . . . . - . .. ... . . - . .... . .. - ...... .. - ........ - .. . . Union Pac. So. Br .... 6 .. . . - ... . .. . . - .. . .... . - . .. . 106 -102 ... . - •· ·· .... Mobile & Ohio-New .. 6 112¼-109.½ 113 -112 112 -112 111 -109¾ llOll(-109.½ 107 -104½ 111 -H•6½ 109 - 107½ .. .. - .... 109½-109 . . . . - . . .. 105 - 103¼ 1st, p1.•ef., debenture .. 7 97½- 93 97.½- 90 90 - 81 85 - 81 82 - 80¼ 77 - 69½ 80 - 75 80 - 77 80 - 79 80 - 79¾ 80 - 79 8 1¼- 80 2d, pref., debenture .. 7 68 - 6i.½ 60 - 60 52 - 50 50½- 49½ 5.l - 50 45 - 41 48 - 40 46 - 46 47½- 46 .. . . - .... 45¼- 43½ 46 - 46 3d, pref. debent . . . . . . . 7 . ... - . ... . ... - . . ... ... 37 - 37 47 - 34 . . .. - .. . 38 - 36 33 - 33 4th pref. debent ... . . .. 7 . . . . - . . . . . . . . - . . . . . . . . - .... • • • • - • • • • . . •. - • •. • SO - 30 .Mutual Union T-S.F .6 .... - .... .... - . . ..... . 79¼- 78 79 - 77 77.½- 69 74 - 66 73 - 65 Nashv.C.& St.L.-lst. 7 lltl½-115 115!,(-115 115)4-114 116).ji-1.15¼ 117½-116½ 116¾-116 113¾-113½ 114½-114½ 116 - 115 115½-114¼ 116 - 114¾ 118 - 115 1 1 Nevada Cent1.·al-lst ... 6 ... . - . . . . . . . . - ... 101 - 101 ... . - ........ - . . . . . . . . - ..... ... - ........ - ... . ... . N. J. So.-lnt. gua1.• ... . 6 ... . - . .. .. .. . - .... . .. . - . . . . 97 - 95¼ 97 - 97 . ... - ...... . . N. O. Pacific-1st ........ 6 lt2 - 90 91¼- 86 89 - 84¾ 8~- 84¾ Bi½- 85½ 88}(- 86 94 •· 87 94 - 91 92 - 91 91%- 85.½ 86½- 82¾ 89½- 85~ N. Y. <.:entral-1883 ... 6 103 - 102 103½-102% 104 -103 104½- 104 101¾-lOl 102¾-101¾ 102¼- 102 102½-102¼ 102¼-102% 102¼-102½ 100%-100 101¼-100½ 1881 ... ... ...... .. . ..... . fI 110¼-110 .... - . . . 108¼-108¼ 110 -110 112 -112 . . - .. · 1109 -109 108¼- 108¼ .... - .... 109 -108 109 - 107 .... 4  •  •  I  I  :~~~~f~~~i"s~;~~: :~   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  :s:i  iss  ias  iM.½=1ss·· ~~!¾=~~:i ~1ss· · :1ss},i :184¼ i35½~184 . . - 132 133¼-133¾ 134 -133¾ 134)4-133½ 133½- 133.½ -110 110½-110~ 110¾-110~ .... - . . .. 106½-106½ - 93 94~- g~ ~ - 94 96½- 94¾ 96 - 96¾ -135 !32~-132½ .... - .... 131¾-131½ ... - ........ - .... 131¾-131½132 -131.½ - .... .... - .... 89¼- 88 90 - 88 85 - 83½  lst,1.•eg . .............. . 7 133 - 132¾ !34 Hud. Riv.- 2d, s. fd .7 110 - lOS.½ 1111 Can. 80.-lst, guar ... . 96¾- 95 95 Harlem- 1st, coup .... 7 135 -135 135 lst,rea- . .. ... .. ... .. . .7133 -133 .... N.Y.Chic,&St.L.- bt .6 .. . . - . . ..... .  aj 1  is1  =1si· 131 - 131 106½-106½ 93¾- 93  133 -182 132 -:32 1011 -108 93½- 93 - . .. . 132 - 132 132 - 131 94¾- 84¼ 96 - 92  132 - 182 132.½-132 - ... . 94 - 92¾ 132 - 132  134 -182½ ... ... . ... 108½-108½ 95 - 92½ 133½-133½ - .... 95¼- 91¾ 97 - 89  133_½-1331/4134 -133 133 -133 133½-133 110 -110 l 06!4- t06¼ 95 - 93 100 - 94½ 132½-129½ 126 -126 130 - 1.30 127 -127 97 - 94 96¼- 94  RAILROAD - BONDS.  55  1882-Contiuued. BONDS.  JANUARY FEBR'RY.  MARCH.  APRIL.  I  MAY.  J U NE.  J U LY.  AUGUST. SEPT'BER. OCTOBER.  N0V'BER DEC'Bl!:R,  _ _ _ _ _ _ _ __ ___ ,.H __i·g_h_._L_o_w High.Low High.Low High.Low High.Low High.Low High.Low High.Low High.Low High.Low High.Low. Hh?h.L<'W  ,N,Y,City & No.-Gen'l.6 81 - 81 80 - 76¾ 66 - 64 65 - 55 54 - 45 51 - 50¼ 62 - 50 60 - 56 57½- 50 57 - 57 .... - ... .... . - ...• N. Y. Elevated-lst ..... 7 117 -115 llfl¾-115½ 117 -115 117 - 116½ 118%-116% 118½-117½ 116¼-114½ 116;14-111½ 117 -114¾ 117 - 114¾ 115¾-114½ 118¼-116 N. Y. Pa, & OhioI l st, income . ......... i>-7 . . . . - . . . . 42½- 42½ 42 - 42 . . . . - . . . . . . . . - . . . . 4194- 41¾ . . . . 53¾- 53¾ 56 - 54½ . . . . - . . . . . . . . - ... . N, Y.&Tex. Laud-Scrip 28 - 27 26 - 26 . .. . . . ... . . . - ... . ... - . . .. 27 - 26 31 - 30¾ 86 - 38 87 - 35½ 86 - 84¼ 85 - 85 84 - 84 No1•f, &West.-Gen.lll .6108 - 102½ 108 -102½ 108 -102 104¼- 103¾ 101%-101 101)4- 101 102 -101¼ 102%-102 108 - 102% 108 -102¼ 101 - 99 101 -100¼ No1·tlnv.Telegrapb .... 7 - .... ... - .... 105 -105 . ... - . .. .. ... - ... ... .. - .. ...... - .. . .. ... - . . ...... - ........ - ........ - ... . .... _ ... . Ohio Ceutrnl-1 st ..... .. 6 98 - 96 98¾- 94½ 96 - 94 98½- 96½ 97 - 96 97 - M 95 - 93 96 - 93 92¼- 91¾ 94 - 90 95½- 93½ &5¼- 94 1st, terminal u·nst .. .. 6 95½- 95¼ . .. . - . . . 95¼- 95½ 92¾- 92¾ 93 - 98 . . . . - . . . . 95 - 95 .... - ..... . .. - . . .. 93 - 93 92 - 92 .. .. - ...• Income .... . ... .. . . ... . . 7 48 - 42 45 - 37¼ 41 - 33 39 - 85 86 - 88 84 - 29 44½- 32 38 - 80 88 - 85 41 - 87 87¾- 82 84¾- 80 O. & llliss.-Consol, s. f.7 117!'(-116½ 118½-118 121 -118 - .... 118½-118½ 119 -118¼ 117 -116½ 117 -117 115 -115 116½-116½ 118 -117 119 -117¾ Consol. ....... ...... . . .... 7 117¼-115¼ 118½- 118 118½-~18 11$½-118½ 118½-117 119 -119 116½-116½ .... - .... 115 - 115 116¾-116¼ 118 -117 .... - ... . 2d .... .... ..... .. ... .. . ... 7 120½-120½ 122 -122 122 -121 120 -118 120½-115 120¾- 120¾ . .. . - .... 124 -124 125 - 122 - 120½120 121 -120¼ 12Ht-120 1st, Sp1•ingf, Div ... .. . 7 122½-119¾ 121½-121 121 -121 120¾--120 117 -117 116 -116 120½-116½ 120½-120 119 - 119 121 -121 115 -114 115 -114 Ohio Southe1•n-lst . ... 6 92½- QO 91¾- 90 88 - 84½ 87 85 87¾- 86 88 - 78 86!,fr- 88 85 - 82 86 - 88 84 - 82¼ 85 - 82 81½- 80 2d, income ...... ..... .. .6 46¾- 42% 45 - 40 85 - 27¾ 82 - 32 82 - 80 25 - 25 35 - 24½ 38½- 30 36 - 32 30 - 29½ 82 - 80 29½- 25 O1·eg n & Cal,, 1st ..... 6 .... - ........ - ...... .. - ........ - ........ - . . .. . ... - ... ..... - ........ - . . ...... - ........ - ... ... .. - . . . . 92¼- 91¾ 01·. R'y. & Nav.-lst ... 6 106 -105½ 107 - 105¼ 107 -106¾ 109 -108 109¼-108¾ 110 - 109 107 - 106½ 108 -107 108¾- 107½ 109½-108 108½-107¾ 109 -107¾ Pacific RailroadsCent. Pac.-Gold. : .... 6 115 -112½ 114¾--11374 115¾--114 117 -114¾ 117%-116½ 119 -117¼ 117 -116 117 - 115 115 -114 t15 -114 115 - 114 116¾-114¾ San Jon,quiu Br ... . 6 109 -108 110 - 108 110½-109¾ .... - .... 110 -108½ lll!,fr-110 1 -110½ 112 -112 . ... - ... . .... - .... 108 -108 106¾-106¾ Cal. & O1•egon ... ... . 6 ;04 -103½ 103 - 103 104 -103½ 105 -104½ ... . - .. . ..... - .... 105 - 105 .... - .... ... . - .. .. 105 -105 105½-104¾ .... .- .. . . State aid .. . .......... 7 102½-102½ 103 -103 .... - ... 108½-103½ . ... - ..... . .. - . ....... - .. .... .. - ........ - ... .... . - ....... - . . ...... - .. . . Laud grants .......... 6 107 -105¾ 105¾- 105¾ 107¾-106½ 105 -104¼ 105:)4- 105 107 -107 106½-105½ 106½-105½ 106½- 106½ 104½-103 104 -103½ 106 -104 Western Pac ......... 6 ll0½-109 111 - 109¾ 11()%--110 112 -110½ 115¼-112½ 115 -114 111 112 -110 .... - ... . 113 - 113 112 -111'¼ 118¼- 11'< ¾ No.Pac.-Gen.lst, J.g6 99¾- 95 98 - 95½ 99¾- 97 101½-100 102¾-100½ 103½-102½ 104 -100½ 104 -103¾ 104 -103½ 104¾-108¼ 104½- 103¼ lf5½-104 Rra-istered. . 6 .... - . . .. . . .. - . . . ..... - . .. ..... - ....... . - . ....... - .... 103).,(-103¼ 103¾- 103¾ .... - . ... 104¼-103¾ .... - . . . . 105¼- HlS½ So. Pac. Cal-1st . .. .. 6 10-1¼-108¾ 104½-103¾ 105½-104 104 -102 105¼- 108% 106 -105.½i 106 -105½ 106¾-105½ 106½-106.½(103!,fr-103 103½- 102½ 104 -102 Union Pac.-lst .. . . .. 6 116 - 114¼ 117¼-115 116 -115 US -116¾ U8½-117¼ 120 -118 117¾-116½ 117½-116½ 116%:-115¼ 116 - 114¾ 116 -115 117 -115¼ Laud o-1•auts .......... 7 114 -113 116½- 118 116 - 115 112½-112½ 113½-113¼ 114¼- 113½ 115 -114 115 -114½ 115 - 114 /110¼-110 111 -110¼ lll¾-110¾ Sinking fund .. : ... .. . 8 124 -122½ 122½-121¾ 118¾-116 119½- 117 121¾-120 121¾- 120 123 -122 123 -121 119 - 117¾ 119 -117 118 -116 118 - 117 Registered .. .. ... . . .. 8 .. .. - .... . ... - .... 119 -118 .. - .... 121 - 121 . . . . - . ... 120~~- 120¼ .... - ........ - . ... 117 -117 .... - .... 117 -117 Collate1·al trust . ... 6 !07 - 107 .... - ....... . - . . .. ~06 -106 109 -109 105 - 105 ... . - .... 104 -104 106¾-105 109 -106¾ . ... - .... 107 -106 Ii.,Pac.- bt,F.&A .. 6 .... - .... 109 -109 110 -110 . .. . - . . .. 118 -112 113 -112~ 118 -113 110 -110 111 -110 110½-110 111 -110 .... - .. .. 1st, 1896, J.& D .. 6 110 - 110 110 -109¼ 111 - 110 112 -111 114 -118 .. . . - .... 110¼-110 110½-110 111 - 111 .... - ... . 110½-110½ 108 -107½ Dem•, Div,-Ass' d 6 109 -107 109 -106¾ 109¾--107 112 -109½ 110 -108¾ 110 -108¾ 110¾- 109 110½-109 110 - 108 110 -108 107¾-105¾ 107 -105¾ 1st, consol.... . . . . 6 104¾- 101¾ 108½-102 104 -100¼ 106¼-1C4 108¾-102¼ 102¾-102 104½-102¾ 104!,fr-104 104½-103½ 104 -102½ 101 - 98 lOil - 99 Income No. 16 . . . 7 .... - . ..... .. - ... . . ... - ........ - . . .... .. - ...... . . - ........ - . ... 93 - 93 . ... - ........ .... - ... . . . - ...• At.Col.& Pac,-lst .6 99 - 95¾ 98½- 95 . ... - .... 98 - 95½ 96 - 95 92½- 90 .... - . . . . 92 - 92 94 - 92 94 - 94 98½- 92 . ... - . . . • At,.J.Co .&W.-lst .. 6 . ... - ..... ... - ........ - ..... . .. - .. ... . .. - .... 90 - 90 .... - ........ - ....... - .. ...... - ... ..... - . .. . .... - ... . O1.-eg.Sh,Line--lst .. 6 .... - .. .. .... - ........ - . . . 104 -104 105 -102 104¼-103½ 105¼-103½ 104 - 103 103%-100 100½- 99¼ 101 -100 100 - 99¾ Utah South.-Gen . . 7' 107 -105 106½-106½ 105 -105 105 - 104¼ 107 -107 108 -106 105¼-104½ 104½-103 104½-104½ 107 -104½ .... - ....... . - , . . . Ext'd, 1st. 1909 . . 7 .... - ........ - ... . .. - .. ...... - .. .... .. - . ... 100 - 100 95 - 95 ... . - . ... 101 - 99¼ 101 - 101 101½- 100¼ 103¾--103¾ Mo. Pac.-lst, cons .. . 6 104¼-102 102 -100 102½-101¾ 104 -103 100¾-100 100½-100 101¾- 100¾ 101¼-101 102 - 101 102¼-101¾ 100 - 99 100¾-100 3d... . . . .. . . ... . .... .7 112 -110 112 -110!}.i 111½-110¾ 111 -110½ 109 -108½ 109½-109 111 - 109½ 112 -111 112 - 111¾ 113½-112¾ 109½-109 109½- 109 Pac , of lllo,-lst . ... . 6 109½-107¾ 106½ -105¾ 107½-106 lOi¾-107 108 -107¼ 108 -108 109½-108¼ 106 - 105% 106½-105 totl -105¼ 106 -105 107 -106  I  2d ..... . ..... . .. .. . ... . 7 112;14-110  111%-110½ llZ -112  114 -114  115½-114  114 - 114  .. .. - .... 113 - 111  .... - .... .... - .... lll½- 110½ 114 -114  St.L.&S.F.-2d,"A".6 .. .. - .. . 100 -100 108 -100 100½-100½ 98 - 98 ... . - . . .. 98¼- 98¼ 98¼- 98 99 - 99 99¾- 99¾ 96¾- 95 97 - 95 Class "C" . ..... ... . 3-6 91½- 00½ 90 - 85½ 91¾- 86½ !J2 - 90 . . . . - . . . . 88 - 85 . . . . - . . . . 90¾- 89 90½- 90 93 - 90 91¼- 90 93 - 90 Class "B" .. ....... . 3•6 92 - 91½ 91 - 89¾ 92 - 86½ 92 - 90)11 88%- 84 88½- 83 90 - 89 91½- 89¼ 91 - 91 92 - 90¾ 91½- 89¾ 92¾- 90 Pierce C. & O. .. . 6 .. . . - ... .. . . . - ........ - ... .. ... - .. . ..... - . ....... - .. ...... - ... . .... - . ... 102½- 102½ . ... - ........ - . ....... - ••.• Eqnip1nent .. ......... . 7 93 - 97½ . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . . . .. - . . . . . . . . - . .. . - . . . . . . .. - .... · · · • - • • • • · · · · - · • · • So.Pac.ofMo.-lst .. 6 104 -103½ 106 -104 104¾-104 105½-104½ 106 -106 106 -105 74 105 -104½ . .. . - .. .. 103 - 103 103½-103 104 -103½ 105 - 104 Texas & Pac,-lst ... 6 107 -106¼ 108½-108),ji ... . - . .. .... . - .. ...... - .... 110 -110 .. . . - ........ - .... ... . - .... 104 - 104 103 - 103 .. .. - ... . Cousols .... ....... ... .6 99%- 9iP/4 .... - . . . . 95 - 05 .... - . . . . 99 - 99 .... - ... ... . . - . . . . 97½- 97½ 92 - 90¾ 98½- 93 -03 - 93 91 - 91 Inc,& land gr., reg.7 75 - 70¾ 70¾- 62>1! 70 - 59 68 - 61¾ 65½- 61¾ 66¼- 58½ 72 - 62¾ 71 - 64 66 - 62½ 62½- 60 59½- 53 59 - 56 1st, Rio Gr. Div .... 6 90¼- 87 85¼- 78½ 84¾- 78 84 - 81 88 - 7!J 84¾- 78 91¾- 83¾ 89¼- 84 86½- 82¼ 88 - 80¼ 82¾-- 76 88%- 77¾ Pennsy lvania RR.Pa. Co.-Coup ... . .. .. 4½ 98 - GS •••• - • •• • • • . - ........ - • •• • 97½- 9i .... - .. .. . .. . - . . .. 96½- 96 96 - 96 98 - 97 .... - . ... . ... - .••• Reg . . . .. . .. . . . . . 4 ½ . . . . - . . . . . . . . - . . . . 95½- 95½ . . . . - . . . . . . . . . . . . - . . . . . .. . - . . . . 98¼- 98¼ .. . . - . . . . . .. . - .... · .. . - . . . . . . . . - •... Pitts.C.&St.L,lstcp 1r - ........ - ...... .. - .... .... - .. ...... - ... .... . - ... ..... - ....... . - ........ - .. ... ... - •••• 117½- lli½ .. .. - ...• .Pitts.Ft. W.&C,-lst. 7 .. . . - . .. . 137 -137 137 - 187 140 -1?8 140 -189 140½- 140 136½-136½ .... - .. . .. . .. - .... 188½- 186¾ 138 -137 140 -188 2d .. .. . .. ... .. . .. . ... . ... ? 132),j,-182½ 132¼-132¼ ... . - . ... 188 - 133 . . . . - ... 188 -188 . .. . - . .. .. . .. - . ... 185 -184 186½- 136½ .••. - . ....... - ... . 3,1. .. ...... .. . ..... . .. .. . 7 180 -130 .... - ..... . . . - .. . .... . - .. .. 130 - 180 131 - 130 . ... - .... 126 -126 .... - .. . . 128 -127½ 128 -128 131 - 180 Clev.& P.-Cons.s.fd.7 .. . . - ... . 125!,fr-125½ 127 - 127 127¾-127½ .. . . - .... 125¾-i25½ 125½- 125½ 124¼-124 125½- 125½ 128 -127 124½- 123½ 127 - 126¾ 4th ........ . . . .. ......... 6112 -112 .... - ... . 112 -109 114 -113 113¼-113¾118¼- 113¼1.... - . .. ... .. - ... .. ... - .... 108 -108 110 -110 . . . . - •... C,C,& I.C.-lst, cous,7 125 -125 130 -125 . .. . - . .. . . ... - .... 120 - 120 120 -120 120 -120 .... - .... 121 -120 123½- 120 121 -121 130 -121¾ 1st, trustcert's,ass'd .. . . - .. .. 118 -118 119 -119 .... - ........ - .. ..... - ........ - . ....... - ........ - ... . .. .. - . ... .... - ... ... .. - ..•. 1st, do suppl'1·y 122 -117½ 120 -118 .... - ... . 116 -110 115 -115 115 - 115 .... - .. .. .... - .... 118 -115 . . .. - . . .. 116 - 116 .... - ..•• Income .. ......... .... . 7 76 - 71 70½- 52 56 - 45 58½- 45 45 - 45 .... - . . . . 55 - 45 54 - 51 50 - 48 50 - 50 50 - 50 52 - 60 St.L.V &T H.- lst . . 7' .... - ... .. ... - ... .. ... - .. ..... - ....... . - . ... 118 -117½ .. . . - . ....... - .... ... . - ........ - ........ - ...... .. - .••• 2d guar.. . . ... .. ... 7 .... - ........ - ... .... . - .. . ... .. - ...... . . - .. . .. ... - . ... 1 . .. . - . .. . . .. . - . . . . 110½-110½ .... - ... - ....... - ...•  P;:::~~~~:~~~:~~.~~:: ~~.~½=1~~ .. 1~:½=1~~ 1~1%=1:: 1~~=1~~ 1~~ Evansv. Div .... ... . . . . 6 Do incorne .. ... . 6 Pitts. B. & Butr.- lst . 6 Richmond & All.-lf!ft . 7 Rich. & Danv,-t'ons . . 6 Debentm·e ... ....... .. 6 At.&Char.-luc,,1900 Roch. & Pittsb.-lst . . . 6 Income ....... ... .. . . ... . . 6 Rome W.& O,-Consol. 7 1st .......... . . ... ..... .. . 7  . ... - .. .. 103!,fr-103½ .... ... . - . . ...... - ....... . 98 - 93 .... - ........ 101¾- 90½ 95 - 90 98¾lOB -101¼ 106½-105½ 104 -  . ... - ........ - . .... . . . - .. .. ... . 100¾-100½ 101 40 - 40 43 91¼- 39% 91 .. . . .. .. ...  ::c:~:1:~~~~.~~~~.~~.·.·. ·.·.; .~?=~~~ .~.~  - 101 101 - 85 48 - 90 00 - . . . .... . =  -100 - 37½ - 80 - .. ..  102 47 90 .. ..  l~~  ~~.~  ~~~  =1~~¾ =l~~ 11!~ =1: 1~.~ =104¾ =104¾1~~~1~ .. =104 1o"1 -100¾ 100}4-100¾ 100¾-100¾ 101 -100 100 -100 98 - 97½ 98 - 97¾ 75 - 69 .... - ..... .. . - . . 75 - 75 .. .. - . .. . ... - . . . .. - . . . . . . - . .. . . - . .. . . .. . - .. ... . .. - ........ - . ...... . - ...... . . - . .. . 88 - 85 87½- 85 88 - 88¼ 89½- 87 87 - 85½ 81 - 79 88½- 80 100!,fr- 99¾ 103 - 100 100 - 97 101 -100 100½;- 99¼ 100 - 94 96½- 93¼ 72 ~ 67¾ 70 - 68 79½- 68 82 - 75¾ 79 - 76 78 - 59½ 65¾- 60 - . ... .... - . . .. 94 - 91 .... - ........ - ..... .. . - .. .. .... - .... 80 - 80 - 100½ 108¼-102 104½-103½ 168 -108½ 104½- 104 104½-104½ 105 - 104 104¾-104 - 44 47 - 45 .... - ... 47¼ 44 47 - 43½ 58 - 46 46 - 46 44%- 43¾ - 89 90 - 90 .. . . - . . . . 89 - 82 75 - 75 75 - 74 73 - 69 70 - 67 - .. . lll½-111½ ... . - . . .. .... - .... 110 -110 . . .. - .. . ..... - ........ - .. . ·  ....... . .... 77½.... . . . . 89 Pl 98 101 . . . . - . . . . . . . - . . . . . . . . - . . . . 72 -  .... 55 .... 90 99 69%  ~~~ .~.~½= ~ ... ~.~ = ~ . . . ~.~= ~~... ~.~  = ~:...  45 = 40 ... 40. = 34 .. .40  =  ss·· .4.i  = 32  1·4·i  = 86  :~.~ =1~~ .. 98 - 97 . ... - .••• 80 - 78 83 - 81 99 - 94½ 67 - 62 . . .. - ... . 104½-104½ 44 - 41 75½- 70 ... · , _ ···•  ·4;; =40 ..  St.L,Alt.& T.H.- lst .. 7 .... - ........ - .. . . 119 - 119 ... . - ....... . - .... 116 - 116 111 - 111 112 - 112 !14¾-114¾ 116 - 116 tl'7 -117 2d, pref.... ......... . ... .7 110 -110 105>11-105 107 - 105¼ 105¾-105¾ 108%-108½ 109}4-109 109½- 109½ 110 -110 111½-111½ 110,14-110¼ 110 - 109½ lll!)i- 106 2ll, income ... ...... .. ... ? . . . . - . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . 96½- 96 . . . . - . . . . 96 - 95 99%- 99¼ 99 - 99 100 - 99 96½- 96½ 99 - 98 Dividend income ...... 6 50 - 50 5~ - 50½ 40 - 377/4 87½- 87½ 40 - 40 .... - . . . . 40 - 40 55 - 50 62 - 60 50 - 40 50 - 42 62½- 49 B e ll.&So. 111,-lst . .. 8 ... . - .. 123 - 121½ 120 - 120 . ... - . . ...... - .... ... - . . . .. . .. - .. ...... - ... .... . - . ... 114 - 114 ... . - -··· .... - . . . . St. J.,& Iron lllt.-lst . . 7 118 - U7 116 -114 118½-114½ 116½-115¼ 118 -1168,4 117 -115 117 -116¾ 115 -114 114 - 113 113½-113½ 116 -115 1·0 -115½ 2d . .. .. ...... .. .... .. ... . .7 109½-108 109¾-107 109 -106½ 110½-109 107 -106¾ 106¾-104 108 -104¾ 108¾- 108 108 -107¾ 108½-107½ 105¼-102¾ 105 - 103¼ Ark. Branch . . . ... . . .. 7 110 - 109 110 -108 110 -107 .. . . - .. . . 111 -110 . ... - .. . . 107½-106 .. .. - . .. . 108 -105½ 110 -106½ 109 -107¼ 107½- 104½ Cairo & Fnlt'u.-lst, 7 111 -108¼ 109 -106¾ 1083-,i-107¾ 110¼-109½ 109¾-109¼ 109¼-1087/4 108 -106 108½-107¾ 107½-106 108 -105½ 108½-105¼ 111 -106¾ Cairo A1·k. & Texas . 7 110 -108 108¾-106 107 -105½ 109 -107 108½-108 105 - 105 106%-105¾ 107½- 106½ 106 -106 107 -106½ lO'i½-107 105 -103;,( Gene1•al consol. mm·t.a 86 - 84 84¾- 80 82 - 78 80 - 78 82 - 78 80¾- 75 84¼- 77~ 88 - 81 89 - 80¼ 77:):!- 76 76¼- 'i2½ 75½- 73 1st, pref. income . .. .. . 7 97 - 96 .... - . ....... - . . . . 97 - 95 95 - 95 .... - . . .. .... - ....... . - . . . . . . . - . .. . 96½- 96½ . ... - ........ - .. . . 2d income . ...... ..... . 6 .... - .. ...... - .... .... - .. ...... - . ..... .. - . .. . 84 - 84 .. .. - ........ - .... .... - . .. . .... - . .. • .. • • •· • • • · • · - · · · · St.P, Minn.& M,-lst .. 7 109¾-108 100½-109 10~-109 110½- 109½ 111¼-110½ 118 - 111 109 -107½ 109 -108 111 -109 111 - 110 110 -108 111 · J09½ 2d . . .... . . ... ... ... . . .. ... . 6 106 -105½ 105½-105 107¾-106 108 -104¾ 108%-108 lllxi- 109½ 113 -112 113 - 110 118 -112 110½- 109½ 109¼-109 109 -108½ Dakota Extension .... 6 106 -105 106 -106 106½-106½ 109 -106 107 - 106 108½-106½ 109.14-108 108½-108 11'6½-107¾ 109 - 108 106½-106 106¾- 106% Minneap, Union 1st . . 6 ... . - . ..... .. _ . . . . . . . - ........ _ ........ - . .. . . . . . - .... .. .. - .... . . . . - . . . . . . - ..... ... - .... 108 -108 107½-l~   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  RAILROAD  56  BONDS.  1882-Concluded. JANUARY FEBR'RY.  BONDS.  MARCH.  APRIL.  MAY.  JUKE.  J ULY.  AUGUST. SEPT'BER. OCTOBER. N ov'BER.  - - - - - - - - - - - - - - - - - · - - - ------1----1 ----1----  High.Low High.Low High.Low ·- - - - - - - - - Scioto Valley-lstcons.7 98 : 97¾ 102 - 96¾ .... - .... South Carolina-1st .. . .6 100 - 99 99¼- 99 100½-lOO 2d . ... ......... ... .. . ...... 6 . . . . - . . . . . .. . - .. .. 88 - 85 Incomes . . . ... ........ . . 6 52½- 47¼ 46 - 42½ 50 - 46 Texas Cenn•al-lst s. f'.7 107 -106 107½-107 108)4-108¼ Tol.Del.&B.- lst,M.L.6 86 - 83 ht, income .. . ... .. .... . 6 24 - 15 23½- 20 25 - 21 Terminal ti·ust ... .... . 6 95 - 95  ----------  DEC'BER.  ----·-·!- - --  High.Low High . Low High.Low High.Low High.Low High.Low High.J,ow High.Low High.Low  - - - - - - - - - -- - - - - - · -- - - -----,-----  - - - - - ·- - - -  102 -100 100¾- 100 98 - 97¾ 98½- 97¾ 85 - 85 48 - 48 50 - 47¾ 109 -1()8½ 106½-106½ 20 - 20  . ... - .. . . 97½- 97¼ 81 - 81 48½- 45¾ 105 -105  23 - 20¾ 20~- 20  95 - 95 99 - 98 84½- 84½ 57½- 48½ 107½-106¼ - .... 30 - 20  96¼- 95½ 102 -JOO 90 - 90 61 - 55 108 -107½ 88-83 24 - 21½  95½- 9-i 102¾-102½ 95 - 92 61 - 60 108¾-108 .... - . . .. 20 - 20  .... -  99 - 99 98 - 1)3 61 - 57 102½-102½ 66-66 22 - 20  108 - 99 .. .. - . . .. .. .. - . .. . 104 - 104 60-60 20¼- 20  100½- 99 90 - 89 59 - 57 55-49 10¼- 10¼  Dayton Div. Inc ....... 6 .... - .... 24½-24½ .... - .... 100 - 98 Tona.Val.&Cuba,-lst6 . ... 56 - 54 70 - 65 Virginia Midland- lnc.6 .... 75 - 45½ 74 - 73 71½- 69¼ . ... 65 - 65 57¼- 51 70 - 70 Wab. St. Louis & Pac.General mort ... ...... . 6 89½- 87½ 88 - 80½ 85 - 81 83 - 75 ~2½- 79 79½- 71 87¼- 79½ 86¼- 84¾ 88½- 86 85¼- 80½ 83½- 80 80½- 79 Chic. Div ....... ......... a 85½- 81½ 86¼- 85 84½- SS 52½- 81½ 84 - 81 82¾- 81 84¾- 79½ 85 - 84 85¼- 84½ 83 - 83 81 - 80¼ 83 - 80½ HavanaDiv . ... , .... . .. 6 96 - 95 94¾- 93 90 -· 90 90 - 90 90 - 89¾ 90 - 90 .. .. Toi. P. & W.- lst . . ... 7 111½-110 111 - 110 lll¾-110 110 -107 110 -108 1091/,.108 110 - 108½ 111 -110 111 -110 108¾--108¼ 108%-105 109 -lv7 Iowa Division . . ... . 6 ~3¼- 90¼ 9S - 92 92 - 89 92 - 90 90 - 90 90 - 90 90 - go 94 - 94 90 - 87½ 90 - 90 . . .. - . . .. 91 - 90 - . . . . 83 - 83 . . . . - . . . . . . . . Cairo Div., 1931 ..... a .. .. - ... . .... 75 - 70 70 - 70 .... Wabash R!y- Mort .. 7 106 -104½ 103 - 102 100 - 97 il3 - 91 95 - 95 94½- 91 - .... 98 -98 - .... 88½-88½ .... Toi.& W.-lst, ext'd.7 111 -110 110 - 110 ll0½-110 lll¼-111 lll¼-109½ 109 -109 - . ... 107 - 106½ 108 -107 .... - .... 107 -108½ 107¾-107¾ 1st, St. Louis Div ... 7 112½-107½ 108½-108 105 -103¼ 104½-102½ 103½-102½ 102 -100 106 -104½ 104 - 104 102 -102 102¾-101 102 -101 102½-101 98¾- 96 Zd, extended ......... 7 105½- 103 108 - 106 .... - ... 105)4-102½ 101 - 100 99½- 98¾ 104 -103 .... - .... l05 -104½ 103 -103 lOl - 96 Equipment ... ... .. . . 7 . . . . - . . . . . . . . - . . .. 61 - 61 50 - 50 - .... 50-50 ... 98-97 . Consol., conv ... . .... . 7 106 -104¼ 102 - 99½ 101 -100% 100 - 92 99 - 96 .... - .. .. 99½- 99½ 100 -100 . .. . - ... 100 - 100 Gt. Western- 1st . ..... 7 111 -108½ 109 -107½ 109\4-108¼ 101}½-109 109½-106½ .... - .... 109 -108¾ 105 -105 107 -106 107 -106½ 108 -105 107½-106 99-96¾ 2d . ........ . ............. 7105½-103½ 106 -100 105 - 102¼ 105½-103 101½- 99 99 - 98 102½- 99½ 103½-1 2¼ 104 -103¼ 108½-102½ 99 -99 - . . . . 101 -101 Quincy & Tol.-lst ... 7 106 - 102 106 -106 ... - . ... 106 -105½ 101 -101 .... - .. ...... - ... 104½-104½ .. . . - .... 103 -103 Ill. & So. Ja.-lst ..... , 103½-102 100 - 100 .... - . ... 100 -100 98½- 98½ 98½- 98¼ .... - .. . . . . St.L.K.C.&N.-RJ.E.7 107 -103 iO~fr-108 106¼-101:S 105 - 103 106 -104 105)4-103¾ 108)4-103½ 109 -108½ 105½-105 105 -104 105)4-102 107¾-105 OmahaDiv .... ..... . 7118½-llS tls - 108 113 - 109 110½-109½108 - 106½106½-104 112 -106¾112 -111 113½-112 109 -108 107½-105)4 108½-106% 85-85 90-90 90-90 St. Chas. B1•idge ...... 6 . ... . ... 118 -117½ 118¾-1:S¾ 118)4-118¼ 118½-118½ ' ... North. Mo.- lst . .. ... 7 121 -119 120¾-115% 120 -120 121 -121 122½-12t 120 -120 .. . Wabash-Fund'd int.- . ... 103 -108 Toledo & Ill ......... .7 .. . - .... 80-80 Dec. & E. St. Lonis.6 . . .. - . . .. 95 - 95 - . . . . 92 - 91½ . • . . - . . .. 90 - 90 . . . . Quincy & 'l'oledo .... 6 .. . . .... 90 -90 ... . 80-80 .... .. .. 90-90 .... - .. .. 103 -103 Gt. Westei·n-lst .... 7 .. . . Zd ........ ... ....... . .. 6 .. . . 90¼- 90¼ . . . . .... 85-85 . ... 90 - 90 Consol., conve1·t ... . . 6 ... . . . .. 85-85 .... Toi. &Wab. 2d ... 6 .. . . . ... 90 - 90 . ... "' .... . : .. - .... 115 -115 Warren RR.-2d ..... . . 7 ... . .. .. 122 -121 t23 -123 .... . ... n8 -117 ui -11; t18 -118 - .... 118 -us - .... 115½-115 West. Un. Tel.-Conp .. 7 118 - 116½ 118 -116 118 - 117 119½,-119 .... 118 -115 118 - 118 118½-118½ 118 -118 .... Rear ...... .. .. .... . ... .... 7 . .. . - . •.. 118 - 118 - ... . 119½-119  1883. -  J .ANU.ARY FEBR'RY.  M.ARCH.  APRIL.   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  ---- ---- ---- ----  MAY.  J UNE.  J ULY.  AUGUST. SEPT'BER. OCTOBER. Nov'BER. D EC' BER.  · - - - - - ---High.Low High.Low High.Low High.Low H igh.Low High .Low High .Low High.Low High .Low High.Low High.Low High.Low -··-- - - - - - - - - · - - - · - - - - - - - - ··- · ·- - 90 - 90 ... . ... . ... .... - . ... .... ... . ... . - . .. . .... - • . . . 1 .. •• - ... . 89½- 89½ 85¼- 85¼ .... - .... .... Atch. T. & S. Fe ..... . 4½ 93 - 93 ... . . ... . ... - . ... .... - ... . .. .. - . .. . ... - . . . . Atlantic & Pac.-lst ... 6 95%- 93½ 94 - 93½ 94 - 93 ... . - .... .... - .... .... - . ... .. .. 28 - 22¼ 26 - 21 . ... 25½- 22 25¾- 22 29%- 26 21½- 20 35¼- 24½ 86¾- 33½ 35 - SO½ 29 - 22 West. Div.-lncome . . 6 ... . - . ... .... - . ... .... - .... ll6¾- 93 98¾- 96½ 100 - 98 :Ol¼- !:ill¼ 97¾- 97¼ 97¾- 96¾ 96 - 95 95¼- 94 94¼- 92½ 97 - 94½ l11t .. . ... . .. ..... .. . .... 6 .. . 112¼-112¼ ... 113½-113½ 114½-114½ 114 -114 .... - . .. . 114½- 114½ 112½-112 114¾-113% . Bait. &O.-Jst, P.Br . . 6 113 -113 .... .. 86 - so 36¼- 34J!i 30 - 80 30 - 20½ - . ... 26¼- 19¾ 35¼- 28 . ... - ... 45½- 45½ 40 - 87 Bost. II. & El'ie.-J st .. 7 51 - 50 Bm·. C.R. &N.-lst ... 5 101¼-100 101 -100 101)4-100¼ 101¾-101 102¼-l0:)4 100 - 99 101¾-100 101¾- 99¼ 100 - 99 102¼- 99¾ 102½-102 101>(-100 .. .. ... .... .... - ... . 106 -105½ 105 -105 . ... - . .. . . ... - . ... ... . - . ... .... - . ... Ced. R.I.F .& N .-1st 6 .... .... - .... 103¼- 90% 102½-101 102¼-102 102½-102 100 - 98 99 - 98 98¼- 98 99 - 97½ 100 - 98 100½- 99¾ Bnff'.N.Y.&P.-lst . . .. 6 Cent1·al Iowa- 1st ..... . 7 112 - 106 108 - 106½ 108¼-108 109 -105½ 111 -108½ 110¼-108 110 -106 107½-105 106 -106 106 -1C6 107 -105½ 107¼-106½ .... - .... - .. . . ... - ... ... - .. .. St - 81 81 - 80½ 80 - 77 81- - 79 78½- 78½ 80½- 79½ 80¾- 80 Ea.stern Div .-1st . ... 6 ... . Cent.RR.of' N. J .-1st .. 7 118 -117 114 - 118 114 -114 116)4-115 117 -115.½ 117 -116 117¾-117¾ 112 112 114 -118 114 -113¼ 114 -114 116½-114 114 -111 115 -114 116 -114 114 -112½ 118½-ll:.l½ 114½-112¾ 113 ·-111 118 -112 114 -113 111¼-108½ 110½-109½ 112½-110 Consol., assented ... .. 7 Conv., assented .... ... 7 111 -109¼ 110¾- 110 113 -110¾ 116 -112½ 114 -111½ 115 -112½ 115 -114 115 -113 113¾-118½ 114½-114½ .... - .. . 118 -112½ Adjustment .. . . ......... 7 107 - 104¾ 106)4-104 106½-105 108¾-106~ 105½-104 105 -104 104%-104¾ 104 -103 106 -103 108½-105¾ 104¼-104 105 -10.1 .... - ... .... - .... ... . - . ... . ... - ... . ... . . .. .... - ... . ... - .... .... - . ... 88 - 87 - .... .. .. - .... Conv. deb .. ........... 6 - .... 85 - 81 87 - 86 98 - 90 100¾- 1)6 . ... - . ... 96 - 92 95½- 92¾ 95 - 92 95 - 95 98 - 96 Income .............. ... 7 85 - 80 105 104 104 -102 104 -102 104 -102¾ 104 -102¼ 105 103½-102¾ 103 104 -104½ 105)4-104 -101¾ 103)4-100¼ 10!¼-101¼ -103}4 Leh.& W .B.-Assent 7 .... 80 - 80 81 - 81 . ... - . .. . .... - .... 83 - 81 83 - 83 .... 83 - 82¾ .... - . ... ... . - . ... . ... ... Inco1ne ... . ... .... ...... 7 Am. Dock & Imp .. .... :; .... - .... 87½- 8ii% 88½- 88 88½- 88¼i .. .. - .... 91½- 91½ l2 - 88¾ 91 - 91 .. .. - .. 91 - 90½ 91~- 90 92 - 91 Cbarl.Col.&Auar.- lst. 7 - . ... .. .. - . ... . ... - .. . ... . - ... . .... - ... . ... . - ... .... - . ... 106 -106 106½-106½ ... . - .... .... - .... . . .. - . .. . ... . 113½-113½ 115 -115 115 - 115 114½-114½ 112 -112 112 -112 112 -112 .... . ... 114 -114 114 - 111 Ches.& o.- Pnr.M.f'd . . 6 llS¼-113¼ .... Series A . ... . . ... .... . .. 6 109½-10::½ 107¾-107 108½-107 107,¼-103 110 -108½ 110½-110 110 -110 109 -108 110 -108½ 108)4-108 109 -108 109 -108 92½- 90¾ 83¾-92¼' 91%- 00½ 92¼- 91¾ 92 - 91½ 92¼- 91½ 95¾- 92½ 97 - 94½ 100 - 93}1'! 98 - 96 Series B . . .... ·· ·· ····6 91¼- 80 92 - 1:10 51 - 48 50 - 46 49)4- 43 49 - 42½ 53 - 47½ 52¼- 47½ Cnrrency ................ 6 55¾- 52¾ 53¾- 51 53¼- 52 54¾- 51% 53¾- 49¼ (2 - 50 . . .. 100 -100 102 -101 102 -101 100¼-100 103 -100 101 -100½ Mortirai;re, 1911 .. .... . 6 100 - 97 101 -100 103 -100 100¼-100 101 -101 ... . 118½-118½ Chic. & Alton-1st . .. . . 7 117 -117 118 - 117½ ... . - .... 122 -12.2 119 -119 .... - . .. . - .... 123 -123 123 -122 . ... - ... ... . - .... 115½- 115 115½-115½ 116 -116 117 -117 113¾-118¾ .... - .. . Sinking f'und . . . ..... .. . 6 114%-114 114 - 113¾ 114 -114 114¼-114¼ . 113½-113½ 117½-117½ .. .. - ... .... - . .. . 114½-114½ l16)4-l16'4 . ... Lon.& Mo. Riv .- 1st . 7 - .... 116½- 114½ 118 -118 .... 115 - 118 116)4-115½ 117½-117½ . St. L •.J.& Chic.- lst . . 7 117 -117 117 -117 .... - . ... 118½-118½ 118),.£-118¼ 117 -115 117 -116¼ ... - ... Chic.B.& Q.-Consol . .. 7 J127½-125¾ 127)4-125½ 127½-126½ 128½-127¾ ... . - ... . 129¼-129½ 127¼-126 127 -126 128 -126¾ 128 -128 129 -127¾ 132 -127¾ .... . ... - .... ... . .... . ... 108 -108 Sinking fund ...... .. . . .5 104 -104 .... .... - . .. . - ... . ... . ... - . .. . 93¼- 93 93 - 89½ 92¼- 91 92½- 87¾ 93 - 89¾ 93½- 91 Debentu1·e .... ... . ..... i) .... - ... . - ... . .. . - . ... Io,vaDiv ............... 6 105½-105½ .... ... . ... . . .. . . ... - .. 102½-102½ .... - .. . . .. . - . . .. .... - .... - ... .. .. - .... . ... 91 - 87¾ 91 - 89 Iowa.Div ..... . .... . .. 4 88 - 86 87½- 87 86 - 81-l 87¾- 87 88 - 88 87¾- 86¼ 87 - 86¾ 87¼- 86¼ 87½- 86 88¾-- 88 .• 84 85 Denver Div., 1922 . . 4 85¼- 84 84½- 81½ 83½- 83 84¾- 84½ 85½- 85 86¼- 85½ 86½- 85 83¼- 81 86½- 84½ 86 - 86 88½- 86½ Plain ............ ......... 4 .. .. .... 80½- 80¼ 80¼- 80¼ 81½- 80¼ .... - . ... 87 - 87 .. .. . ... .... - . .. . .... - . ... . ... - ... - ... .... 98 - 98 99½- 95 100½- 95½ 99 - 99 101%-100 98 - 97 .... - .. .. 95 - 05 Chic. & E.111.- lst, s.f.6 100 - 99 95¾- 95¾ 100 -100 1:18 - 98 Chic.Mil.&St. P.-lst.~ 1134 -134 131½-130.½ 132 -131 132 -131 132 -131 132½-131½ 134 -:31 129½- 128 129½-12,9 l31 -129½ 182½-131¾ l ~S½-133 2d . . ...... ......... .7' 3-10 i126½-126 t22¼-120½ 121 - 120¾ 1.21 -120 121 -120 121½-121½ 122½-122½ .... - .... 120 ·-120 . . .. - . .. . 122½-122½ 122½-122 .... - . ... 126½-126¼ 128 -128 1st, gold .... .. ... ........ 7 ,128½-127 128 -127 .... - . ... 124 - 124 - ... 1:&4½-124½ 126 - 124½ 128 -126¾ 1st La Crosse Div . . .. 7 .120½-118½ 119 - 117% 119 -118 121 - 120 120 -119 l !:.0½-11 9½ 117)4-117 116 -116 117¾-117¼ tl8 -117¼ 119 - 118 119 - 118½ ll!lt I. & IU. Div ...... . . 7 i122¾-122 119 - 119 119 -119 121¼-119½ 121¾-121¾ 122½-122½ .... - . ... 119 -119 120 -119 t:9 -118 121 -1~1 .... . .. ... - ... ... . - ... .... - .... 119½- 118 ;21 -121 . ... - . ... .... - ... .... .... .... 121 -121 .... btl. &D. DiT ... . .. 7 ,124½-122¼ .... 125 -125 l21½-12!½ 118 -118 .... - . . . . 121 - 121 124½-124½ 125 -12.3 .. .. 1st C. &M. Div ... . . .. 7 ,126 -125 125 - 123 ... Consol.. . ....... ..... .... 7 .125 -123 124 -120 123 - 122 123 -121 123 -122 125 -123½ 121 - 118¼ 1"19 -118½ 12?- - 118½ 123¼-121¼ 124½· 128¼ 126¾-124 105 104 -103½ 105 100½-100½ 101½-101½ - .. .. .. .. - .. . .... - .... .... - . ... 101 -101 ... - . ... . ... - .. 2d, 1884 . ...... ........ .7 103)4-103¼ - .... 123 -123 124½-124 117 - 117 118¼- 118¼ 121 -120 121 -121 122½-122 123 -122¾ 1st I. & D. Exten ..... 7 124 -122¼ .... - ... 121 -121 . 1st So. WestDiv ...... 6 103 - 107 108 - 107¾ 108 -107 108%-108¾ 108¼-108¼ 109½-108¾ .... - . . .. 105 -105 lOB - 106 107½-107½ 109¼-108½ 110 -110 97 - 96 .... - . . .. 93 - 92 . ... - . .. . 94 - 03½ 04½- 94 94½- 04 96 - 94½ 97 - 97 1st LaC. &Dav ...... a 95 - 92 1st So. Minn. Div . .... 6 107 - 105¼ 107 -105xi 106¾-105½ 108¾-106¾ 108%-108 109½-108¾ 106½-105½ 106¾-1<'5 10714-105% 108¾-107½ 110 -109 110 -109 121 -121 120 -119 -117 119}<..i-118½ · 21- -:t9 119¼-117 -116 118 118½-117½ btH.& D.Div ....... 7 118 -115½ 117 -116½ 118 112)4-112 112¼-112¼ 118½-112½ 110 -103½ 110¾-109½ ... ,. - ... 110%-110~ tll , in, . .. - . . .. Chic. & Pac. Div ...... 6 t09 -108½ 101)¾- 108½ .. . 04%- 93¾ @~-, 93¼ 97 - 93 95 - 93 95½- 95 96½- IJ5¾ 94¼- 03% 93¾- 9:'3 04¼- 93 Western Div ...... ... 5 92 - 91¼ 92¼- 91¼ 98 - 92  BONDS.  -  -.  ....  .... .... - .. .. ... -  .... .... ... . - ....  ....  -  -  ... - .  .... - .  ...  ....  .  . .. .. - . ...  .  .  .. ..  ....  ....  .... ....  .... -  ....  .... .... .... .... .  .  ....  - ... . ... .  ...  .. ..  -  .... •• ··  ... .. ... ... ....  ....  .. .  -  .  -  -  .... ....  ...  -  -  -  - .. ..  -  .... . ... - .. ..  .  .... ....  ....  ....  .... .. ..  ... ... . - .... ....  .  ....  .. .. ....  .  ....  -.  .  .  .  -  - ....  ....  .  .  ....  .  .  .. ..  -i15)T16M-ll6¼1ll7  .  .  . . . .. . .  -.  .... - . .  .  -.  . .  RAILRO.AD BONDS. 1883-Contun ued.. .J ANOARY F E BR'RY.  AP'RITn  MARCH.  M A Y.  BOND S.  I  JUNE.  J ULY .  A U G UST. · - E PT' B E R . O CT "' BER . No V ' B E R. D EC'B ETh.  - - - - - - - - - -· H igh. L o w lii~h. L ow H igh.Low H igh.Low H ig h . L ow High.Low Fiig-h.L ')"I'<" ~i:-;h. L ')w High.L')w Bi:rh.Lo,.. H1g'i.T.ow Hi.crh. Lo~  (::hie. lU:l . &  §;; _ Pau l -  ll'lineral Point ... .• .., .[, lil ¼· ~l¼ 90½- 0 ) .01½- 0 1½ ... . - . . . ..... - ... . V4½- ll2¾ 1>0¼- 90¼ .... - . ... 92 - {Jl ¼ 92 - 9 1¼ 92¾- 91 93 - 93 Wis.& lllin. Div .. ... . [i • •• • - • • .. 01¾- 9 1¾ 01 - 91 01¼- 01% 01¼- P0711 {13½- oo·~ 90¼- 90 69½- 89½ 0.3 - 90 Cl - 90½ 93!,a- 01 04 - 93 t:hic.&N.\V.-S.F•..... , .•. . - ........ - . . . . 105½-105;,.5 ...• - • ... 106 - 106 08¾- 95¼ . •. - • .. .. . •• - .... 10.3 -10;:; ... - . . •. 105½-1 05:½ ... •  lntcreat ... ............. . ,- 103 -102~ 103¼- lCS¼_ 103)s-103¼ ...• - .. . . 101 -101 'Consol.. .. .. . . .. ..... .... 7' 134  Extension ... ........ .... ,- . ...  1st lllOl.• t . . • • . . • • • . • . • .••• ,  -13a ~  ... .  108¼-108  131)4-131 l ~ll}1i- 13L·¼ 133 -131 131 -130 104¼- 104.¾ . .•• - •.•...•• - •••• . ••• - ••• ! ~ -105 105¼-105~!! 106*10511; 106½- 106 125/J4-l:t4 125 -124½ 126¼-125--¼ 126%-126 125 -124 124½- 124½ 126½- 125½1120¾-126 111 -no 112¾- lll · .... - •••. 110½-110½ 110 -110 112¾- 110 . ..• - ... . .... - .. .. 1 101¾-100;14 102 -101¼ 100¾- 99X: 101½- JO:;l{ 101 -100¾ tol -101 101 -100½1101 - 100.¼  101 -101 1:32 -131½ . ••• - •... .•• - . .. . 123¼-l~¾ 123 -123 !11¼- 110 . • • - • . .. 103¼-lulY. ••• • - . .. .  . . .. - .......• - .. . .... . 133½-133 133½-131 131½-130½ 183 -180½ 133 - 132 133½-132;.. . ••• - ••••.••• - . . .. . ... - •. . . . . .. - •..... . • - .. . .. .. . - ·•" 106¼-106½ 104 -1 C3 105 -10! 103¾-104% 105-,¼-105½ 106½-100 123!,a-122¾ 123)4-12'.3 123;!-.!-123 126¾-123¾ 128 -125½ 124¾-123 123 - 121 123)4-122½ 123¾-123¾ . ... - . .. . 127½-125 124½-122¾ lll¼-110 110 - 110 110½-109 107½-106% 109½-109 112 - 110 .. •• - ..• 110 -110 .. .. - . ... .. . . - .. . . ... . - .• . . - . . .. 103 -W2 103¼-103 104¼-102;¼; 102Y,,-100 103 -101% 103½-103 .. • . - ••. ... .• - ••. . . .. . - .• . . 101§(:-101 iC3¼-101;!< . - .. •• - ... OS¾- 98¾ 08 - 97 . .. . - . . . . 96½- 95 93¾- 92¾ 94 - 92~ - .... 112 • 11'.3 .. .. -  Gold, c oup... .......... ... 7 126 - 124:1,{ Gol<l, :i·e,: . • ..... • .•.• . ... 7 125)1(-125 'Slnklnar:: nd,coup . ... 6 110 - 109 Regis tered . . ..... . ... 6 110 - 109½ Sinkin;r fund, coup . .. 5 l O:l¾ - 99¾ S . f., :rcgi ste-red . . . .. 5 .... - .. .. Debc :. turc . ... ..... . . .. . 5 . •.. - . . . . .••• 'Escano.ba&L.S.-lst 6 ..•. - . . . . . . - ... .. .• . - . ... . .• . Des.LU. &Min.1st ... ,- 121 - 121 ...• - •• . • .• . • - •.. . ..• • Iowa lllidland-lst .. . 8 . 131¼-131 1:Jl¾-129 133 -181¾ .... - •... 1:W -120 . •.. - .... 131 -131 Chic.& lllil.- 1.st .. .... 7' 128 - 122 1~1 - 110 122 -122 ..•• - ••.• 121¾- 121¾ 1221/z-122>( .... - . .. . 120 118½- 1::3 -114 1:::1;,.(-121½ 123½-123½ 123 -123 \-Vinona.&St.P.-lst.7 . .. . - . . . . ~06 - 100 108 -107¼ lOS¼-107¾ 109½-108½ ..•. - .•. . 105½-103 .. . - . . .. 1091/.rl03 108¼-106U 100 -108¾ 108¾-1G8 2d ..... . . ..... ..... .. .... 7 12i -l20 . . .. - . •• . 124 - 123 120¾-120½ . . .. - . •. . ..•. .. . - .. .. .. .. - .... 1£2 - 122 - .... 120 -120 Mil. & l\Iad.- lst ... ... 6 .. . . - . .. . .. .. - .... .... - . . . 112 -111 . ••• - . ... 112 - 112 112 -112 . . . . - . .. .. ... Chic. R.I. & P.-Cou.p. . fi 120)4-l!!SJ{ 125 - 124½ l:!5¾-123¼ 125 - 12.'3% 1126¾- 125¾ 126;)4-126¼ 124 · 1:::3¼ !23¾-123¾ 126 - 124½ 129 - 1S6 129 - 125 129 -128 Rei: . .. . . . . . .... . ... . . ... 6 125¾-125 124¾-124 12t)4-124 124¼-124;4 125 -125 126 -126 124 - 124 ..•. - . . 1251/.rl25½ .... - . .. . .. . . - ... . 1283,4-1:::s~ ~eok'k&J?e~Ji.-1st,i> 104 -104 103 -101½ 105 -105 103J.,"i-100.I{ 10~ -10:½ 107 -105 ... . - .. . . 104 -104 1109 -105½ 105 -105 .. .. - ·~·· 10~½-102¾ Ch1c.St.L.&P1tts-l.st.:i .... - . ....... - ........ - ... . ... - ... 9,!)4- 9, ¾ 9! - 94 04 - 04 .... - .... . . •. - . ... .. . . - ... 95 - 8.> 8ti - 85 1 C.St.P.lll.&O.- Cons .. . 6 109 -107½ 109 -106 107¾- 106½ 109 -106¾ 110 -108¼ 107¾-106¾ lOD - 108 111 -lO!l¼/10 -109 UO - 107½ 111¼-108½ 108¾-10~ ·chic.St.P.&M.-lst .. 6 112 -112 t : 3 - 108 115 -114 110 -113){ 114 - 114 114Y:.r-113 114 -113½ 114½--113¼ 114½-113½ 116½-115½ 114½--113!>-, 115 - 113 'St. P. & s. Clty-lst .. 6 113 -112½ 112½-111 113 - 111 Jl0¼-109½ 113 - 11 2 118½-112¾ 114Y,rl13 110 -114 110 -11 5¼ 113½ -113¼ ms -1 14 11(} -114.~ Ch.& .Ind.- 1st, s.f. 6 ... . - . .. .... - . . . . . . .. - .... .... . - .... 108¼-108¼ lOG½-100 General mort .. .. . ... . 6 .. . . - . . .. 102 -102 Cin. Lo.f. & Chic.-lst. 7 .. .. - . .. . .. .. - ... . 109J4-l C9¾ 109 - 100 - ...... . - .. . . 108 -108 108 - 108 Cin.&S.pr.-Gnar.lst.7 ... . - . . . ... . . - .. . . ... . - ... . . ... - . ... lUi - 113 .. .. - ••. . 115 -115 . . .. - .. . . 111½ -111½ 110 -no 110 - 110 Cl. C. C.& 1.-lst, s.fd.7 . . .. - .. . ... .. - . . ...... - . ....... - .. .. !21½-120¼ 121¾-120½ 124¼-121¼ 122 -121½ . .•• - . . . . 123¼-121¼ 120 - 119 . •• . Consol.. . ... ... . .... ... . .. 7' 122½-120¾ : 2:::¾-122¾ - . • .. 1122).i;-122 12H!><5-123Y. 121¼-121 .... - .... 121 -1~:l .... - . .. 120½-120½ 121%-118½ 118}(;-118½ (Joi. Coal&I.- lst,con.6 84 - 83 81½ - 7·8··· .8. .2. 8·0· ··16·5 - 81 85¾- 84½ b5 - 80½ 8..'l - 80¾ 79½- 70½ 76¼- 76¼ 78 - 72 72½- 70 72 - 08 Colum.&Grecnv.-lst.6 99 - 97 - .....•. • - .. .... .. - . . ..•• . Col.H.Val.&T.-lst . .. a 84¾- 84¾ 85 - 84¾ 81½- 80 84 - 82 84 - 82 83¼- 83¼ 83½- ~ ¼ 81 - 81 80¾- 80 80 - 80 80 - 80 80 - 70 Dcl.&Hud.C.-1&t,°l84 .7 .. .. - . ... 103¾-102½ l03><.i-1027,-ill04 -103,¾ 104¼-103¾ 104½-104¾ 102 -101¼ 103 -102¼ 102$14- 102½ 103 -102¾ l CS¾-102½ 104 - 104  =  i~t!::.~~;1so1:::::~; ~~.~½:1~~~ ~~.~~l~~ 1S94 .. . ... .... 7  •.  ~~~¼=1~~~1~~~  ~~~  =1~~•.  =l~~.  Con1>on, 117 - 116 118¾-115h: 117 -116 115 -113½ llG½-115 Penna.. Div.-Coup . ... 7 126 -126 126-¾- 126½ 1~½-123½ 124½- 123 125 -124 Penna.. Div., reg.. .. 7 ... - ... .. ... - . . ...... - .. . . 126 -125 . . •. - ..•. Alb. & Susq.-lst tn . . 7 . . .. - .... 111 -llOr~ 111 -111 llS -112 . . • • - . . . . 2d mort .. . .. . .. . .... ... 7 l◊0½-100 . .. • - ... , lOi¼-10? 10-l¼- 103½ 104¾- 104¾ 1st, con.,zruar . . .. ... 7 .... - .. ... .. . - .... Rens. & Sar.-lst,cp.,- .... - .. . 137 - 137 l>el. Lac.& '\V.-Conv.7 . ... - . . ... ... - . .. . 110 - ~19 . .•• - •• • ..••. - ... . 'Con.~ 1907 . . . . .. . ... .. . 7 :29 -127 . .. . . •. . 126½-126½ Syr.B'n.& N. Y ., 1st. . 7 .... - . . . . . . - . .. :25¼-128½ 1124¼- 121½ 123½-123r~ .Illori-is & Essex- lst. 7 13tl¼--136½ 136~ -135 137½-134.½?37 -137 135 - 134 2d mort .......... .. . . . 7 11 5¾-11-5¾ 113¼--113½ 112½ -lll¼ 113-*112¾ ::.14¼- 113½ 1 '7's, 1871 .. . .. . .. ....... 7 123 -121 122 -122 122 -122 11, 0½-119½ 123 - 120 1 Con., guar . .. . .. ..... . , 123¾-122 122¾- 121½ 122 -121¾ 124 -121¼ 1!:8,½-124 N. Y. L. & W .- lst G ... - . ... . .• . - . .. . 114½-11:l J116 - llS½ 117¼-115 l>enver & Rio G.- lst .7 100 - 107 108½-108 112 -105¼ 114 -ni lll½-110 Consol . ...... . .. .... ... ... . 7 01%- rs VO½- 87 94¼114½ 100 - 96¼ Denv. Rio G.\-V .- 1st.. C ... . - .. . . ... . - . . .. . . - ... . .... - .. . .... . - . .. . Denv. So. P. & P.-lst .7 lOO - 00 00 - 0() OG¾- 96¼ 9'.i - OJ 06~~- 93 Det. M. & lllnrq.-1st . .6 92 - ( 2 . .. • - . ...... - ... .. .. . - ....... . - ... . E. Tenn. ·v.& G.-lst .. 7 115 -115 116 -116 117;i-117 117 - 117 . .•. - .. •• 'l:ons :: l.. . .... . . .. ... . . .. . 5 73¾- 71½ 73 - 71¾ 73 - 72 7~- 72¾ 70¼- 75½ Divisional.. .. .. ...... 92¼- 02½ . . . - •.... . .. - •.•. 94 - 0-l •. • . - . .•. Income ... ..... . ..... ... . 6 4.0¼- 89'½: 8:;¼- ss;,.._ 36¾- S;}¾ S9¼- l:5 S9¼- 33~ Eliz. City& Norf.-lst.6 .... - . . . . ... . - ... .... - ... . .... - .... 80 - 80 Eliz. Lex. & Ilig. s .... 6 '05 - 94 CG - 04 C5 - 04 9:i - 94½ 95 - 04 Erie-1st, Extended . ... 7 127 -125 .... - . ... 127 -127 .. • . - •... 124 - 121½ 2d, Ext .- ..... ... . . . . ... .5 .. . - ·~· · .... - . ... 1.06¾- 106¾ ll08 - 103 110 -108½ 3d ...• .. . ...•.. .. .... 7 1~10~ 103U-103¾ ... - .... 1. . . . 1 4th, Ext . .. . .. . .. ...... . . G lOi½-107½ . .•• - . . . . . . . - •... 106_½-106¼ 100 -106 ~th .. ... ... ... . ... .... .. .. . 7 110 -110 109 -109 108 -108 110 -110 j .• •• 1st, consol., gold ... .. . 7 131 -129½ 130½--128¾ 1;25¾-125 127,<",r-125½ 127 - 120 lteo1·i,r'n 1st lieu .. .. . .6 ... . - ... . :09 - 109 .. • . Lonir Dock . . . .. . . .... .. . , 118 - 118 110 -117 120 -110½ . . .. - ..•. Buff. N. Y. &E.-lst .7 130 - 121> 13Q - 130 131 - 1::1 .. •. - ..•. 1  88¾198 -  {jl  ~~~~=l~~: · :: : = :::· 1~·2·  -  108 -108 - •• •. .•• • - ••• .•••• ~ •• . . 128 - 126½ 1Z8½-127½ 127 -1S7 124½-124 125'.¼'-1247-1 - .... 107 -107 .. • . - .... ...• - .. •• 117 -117 118 ~us 114¾-114 114¾-114-¾ 117¼-117!,~ 131 -1:27½ . . . . - ... .. . . . ~ . .. . 130 - 180 130 - 130  .~~=~~~ .~.~=~~··I·~·~ -  New, !!dconsol ... .. . 6 9S - W¼ 07 - '02½ 07¾- 95¾ 93!,,i - 963,s 100 - 06¾ 07 - 95  ~~~.~.~ ..~.o... = ~~ ...~~¼ =~:: - .. .... .. - . . ..  Gr:i~~i.&f;t~f:t .... :~ .:::  G~:i~i!~t:~.- P.~~~~::: :..  ci!::~·:.~·.~·.·.~:.~::; ~~: =~~:   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  102 . ... 7G 100  -100¾ 08 - 00 - ..•. - 71¼ 73¼ - 71 - 104){ 106!,a-105¼  ••..  -  • . ...• . •  4-~~~ :::: - ::::1:::: - ........ - .....  ~~  :::·  ~~~  -  : : ::  06 - f. 2 110¾-105 73 - 65 104 -102  •••.. • . •  -  •.•.  1  05¾- 03½ 05 - 93  •• ••  -  • • • • •• , .  107¼-107¼ 112½~112¾ 128 - l::?5Yt 104½- 104½ 118 - 118 181¾-181¾  109 .••. 128 . •, . 115 1~-0  -  -105 -126~ -115 -1~  97¾ - 9 2~ -OG - Ol  ·~¾=7:!½ :::: = 98¼- 97 97½- 97 111 -110½ 108%--108¾ 70¾- 69 68½- 65 103½-101½ 104 -103 109 -108½ .... -  100 - 07 110 - 110 72¾- 66 105 -104 - •.. .  101½-101 70¼~ 68 106¼--l~ 106 -100  72½ .~.1.¾= ~~~ .~.~ = ~~ . . : : :: = :::: :::: = :.:: :½= :,/·:: = .. ..  72½=  = :::· ·2a· =2o··i:::: = ....  Gulf Col.& S. F.- lst..,- lll - 108 111¾ -111 112½- lll½ Han. & St. Jo.-COJlv .. 8108 -107 10..,½-108 104½-103¾ Consol... .... .... . . ... . 6 108 - 108 108 -107¾ 105 -103 Ilons.E..&W.Tex.-1f!lt7' .... .... - .. .. 102 - 102 '2d ... .. . ... ... ... . .. . ......, . . . . - . . . . . . . . .. . . . . . Hons.&T.C.-1st,M.L.7 108½-107¾ 108½-107½ 110 -1U9 1st, Western Dav .. ..•. 7 105½-105 !.... - ••. 106½-106¼ Waco & No. Div .... . '1 .. . - . .. . 111 -111 113 -lllxi ~d. Main Linc ...... .. •8 t22 -121:.14 122 ..:120 12334-123 General mort . ...... .. .5 I.le¼- 98½ .. .. - •. •• 101 -101 Illinois Centro.1Sprlngf. Div., coup .. 6  8  ... . - .. ....•. 98%- t17¼ 101 - 90½ 1 107½-107½ ,109¼-109¾ 75 - 70½ 76½ - 72r. 104 - 103½ ! .... - . •.. . . .. .. • • • - • •..  05¼- 80  - . . .. . . . . :  1  = .. ...... - .::: ~.~i = : : :: i!½=  96½- 05  00½ .... -  11~ -115 98 - 06 C7 - 06 O'i½- 06¼ 112½ -112½.. .. - .. . . 73 - 06 70 - 69 71 - 06 .... - . .. . 104 - 10! ... • 107 - 107  •••  108½-108½ 108½ -108½ .•. . - .... 108 -106  N. Y.L.E.&W.i!c:o;:·~~.~~~ .. Erle&P1usb.-Co118ol., E':• & T. Haute-Con .. 6 Fhnt & P. lll.-lllort . .. 6 Ft.·W.&DP-nv.C.-lst .6 Gal.II.&Sa.uA.-lst .. 6 2d, mort ..... ..... .. . .. .. 7'  ~~-~  ii:  =1~~ .. ~~-3_¾=1~~ .. =~i~½ =l~~--113¾ 117½ -116½ 118 -117'7/4 .. • . - .. .. 118 -118 115½-113½ 115 -114½ 117 -115¼ 125 -125 128 -128 . ._. - .. . . 123!,.f-123 1:;4¾-123 126¼-125½ 127 ~126'( ..• . - •• . . .. • - •.•..... - -. ...• .. . .• . - . . . . . .. . - • . .• . . . . - . . . . . .• • - .. .. 112¼-112½ . ... 104¾-10.1½ 1041/.rl04¼ l OG - l OG 105½-104¼ ... : - ... 104 -103% .. . . 124 -122 - . ... 124¾-122¾ 121½-121 122 -1:22 122½-122~ . 137 -137 - ..•. 133 - 183 ..•. - • ••• 112 -112 127 -127 129½-tS9¼ .... - .... 125 - 123 •••• - . ... 124¼-124¼ 126 - 126 135¼- 134.½ ...• - •.. . 135 - 133 137 -135¼ 138½-137:){ . ... - . . . . 135 -134 115 -114½ 114½- 114½ . ... - .. •. 116 -113¾ 114½-11! 114½--1!4 .... - -.-. 122 -110 122½-120¼ 122¼- 122¼ 12t½-12t½ 120½-120½ 118½-118½ lZ0¼-120~ 123½-121½ 123½-123 123 -122 123 -122½ 123½-122 127½-1S3 124½ -1!:S UR -117 116 -115 110 - 1 : 6 1171}.t-116 117½,-117 117¾ -117¾ 1!!2 -118~ lll½-110 110 - 110 : 09;14-103 100 -109 109 - 108 108 - 105½ 108 - 106-'.l( 08¼- 92.H 91 - so 89¾- 74 soy,. 80 V2 - 84 92½- 89 03 - 90 80½- 70 78½- 70 76¾- 58 71~{- 02 71¾- 67 71½- 69:i.! 73½- 6~ 95 - 05 96 - 96 96½ - 96½ .. . . - . .. . 99%- 08 05½ - 95 00½- 94 .... - . ..... •. - ....... - ... .. .. . - .. .. .. . . - ..... ... - . . ... . • . - ... ,. 1!:.!0 -120 117 ,-117 117.½-117½ ..•. 118 - 118 ..• . - . •.. 1:::0 -120 78¾- 77 7G¼- 71 73¼- 71¾ 73½- ~l'. 2 73½- 71¼ 73¾- 72 i 5¼- 74 94:i,i- 9 4%' W - 94 . .. . - . . . . . .. . - .. . . 93½- 93½ 94 - 94 95 - iJ5 38½- 82 35;'.$- 81 34.¼- 28½ 83 - 28 31 - 25 33 - 28J..: 32¾- 27 80 - 80 .••. - . ••. ..• . - ••• . ••.• - ... . . .•• - . •. .• • .• - .. •• .• •• - • -. 9G - 04 C3 - 93½ 00 - 95 98½- 94 98½- 07½ l Cl¼- l 8 1::1%-lOo;{ 124 -124 ••.. 125½-125½ 128 -128 127 -126 126½-126¼ 108¼-108½ 107½-107½ .... - ..• . 108½-108½ 108½-108½ 110 -109  111 -116¼ .••• _  :::: 110½-109½ 110 -108½ 112 -100½ 106)4-106¼ 107 -106¼ 104¾- 104 111 -110½ 111 -110½ 108 -108 101 -101 .••• - . ... 78¾- 78½ 78 - 78 l09¾- 109 lll¾-109¼ 111½- 110½ 108 -106 108¾-107¼ 109 -108 . ... "" .... 107%-1077,11108¾-107½ 105¼-105¼ •• .• - ·· } 068,4-105 115 -114 .. .• - . . . . .. . . - .. ... . . . - •.•. 111¼-lll½ 111 -111 120 -120 1:::4 -1!:2 123 -1~1 125 -123 08 - 08 99 - r,o .9d¾- 00¼ 98 - 07½ . . .. - . , . 100 -100 113½-112½ 1114 100 - 104½ 100 111 -104¾ 111 101 - 101 .• •.  2;; = ;~· · • ll..2¾ 113¼- 113 -105)4 107 -108 -110 lll½-110½ -  - . . . 115 •115  = :::: ~~::=~~~  81~ 81½ s t - 8' 113 -112 115¼-112 119 -116 1049(-104 105 -104¾ 105¾-104¼ 110 -107 ll{}¾- 108½ 111¾ -ll~ 100 -100 .. . . . . • • •• . . . . •• . • • •• . 109¾-1ll8l/ 4 110;¼-109½ 112 -110¾, 107:J--f-1071/2 108 -1077.18 109 -108 109½-100½ 115 -.108 .. • - •••• 1!:!0 -J.J-9 120 -120 122¾-121¾ - .. . . 08 - 96 97¼- S17  . ... - .. •. 114½-114¾ ...• -  117¼-117¼ ..• • _ ..•.•••• _ . . .. .•••  = :::· ~:½=~~!~\ ii9½ =1!7.. i20~120¼  R.AILRO.AD BONDS. 1883-Continoed. BONDS.  JA"'-UARY FEBR' RY.  MARCH.  APRIT..  MAY.  J U NE.  JULY.  AUGUST. SEPT'l3ER. OCTOBER. Nov'BER DEC'BER.  - - - - - - -· - - - - - - - - - -- - - - - - - - - - - - - - - - - - - - -1- - - -1- - - -  High.Low High.Low High.Low High. Low Hiirh.Low High.Low High.Low High.Low High.Low H igh. Low High.Low lligh.Lnw  Illinois Central- ...... .. - ..... .. . · - . . . . . .. - ... 115 -115 . .. . - . . ...... C.St.L.& .0.-2d M.6 .... . .... .. .. ... a 104 -103½ 104¾- lOS½ 104 -103 106 -103¾ 106½-105½ 107¾-105 105 -104¼ 105 -104 105¼-104¾ 105¾-105¾ 108 -105¼ 111 -105¾ Gold .... .... -112 112 .... .. . . -111 112 112 - ... . 114 =114 , .... Ceda1.• F. & Ill., 1st ... 7 ll4 -114 .. . . - .. . . 112 . . . . . . . • - ...• - •.. 11!1 -117½ .. . . . . . . .. . ... 115 -114¼ . . . . Ind.BJ.&W.-lst,pref.7 .... - .... 118 -116½ . .. R7 - 84 87½- s1 88 - rn ss - 85 · 91½- 88 o9¾- 85 86-85 \ 85-85 86-83 86-84 tst .. ....... ........ .4, a, 6 .. . . - . . .. 87 - so 'iO - 'iO 'iO - 'iO 7'4 - 'iS~ .... - .... 71 - 09¾ 'il - 71 71¼- 69½ n½- 70 'il - 'iO 'i2 - 'iO 2d .. .. . . ........ . . . 4, 5, 6 . . .. 00½- 89½ 89 - 89 02 - 00 95 - 91 I 91 - so 91¾- oo 91¼- 01 Eastern Div ... .. . ...... 6 OS - ll2¾ 02½- 02½ 02½- 91½ { 18 - 90½ OS - 01 S5 41 45 45 .. . . 38 - S8 . . . . 47 45 - so 48½34 43½ S4 19½46 - 41 4S - 43 . .. . . .. 6 45 - 42 Con. income Ind. Dec. & Sp.-1st .... 7 102½- 101!1, .. . . - ..•. 102 -101 LOO - 08½ 1(0 -100 lUl -100 101¼- 100 102 -101¾ 104 -103½ 100,4-100¾' 108 -102 105 -103¼ 2d .. .. . .... . ...... . .... . ... a .. . - . .. . . .. . - . .. . .. .. - . .. . 35 - 35 Trust Co.certs ... ....... .. .. - .... ... . - .. .. .... - .. .. 47 - 47 . . . . Jntert. & Gt. No.-1st .6 106 - 105 108 -105¾ 108½-100 111 -108½ 110¾-lnB 108¼-108 108¼-108 108½-107½ 110½-109 110 -lOS 108¼- 106½ 109 -107¼ 81½- 79 81 - 80 84 - 79¾1 83'",s,fr- 82¼ Coupon, 1909 ... . .. . ... 6 85}.1 - 8431; 85½- 84 83½- 82 o8 - 83¼ 87 - 85¾ 86½- 85x 86¼- rn 8fl - E:4 Jefferson-1st ... . .. .. ... 7 .. . . - ... . 105 -105 .... 05 - 04¾ -94½- 94½ 02 - go 99 - 08 100 - ll8¼ 100 - 00 100 -100 101 - 08 99 - 00 Lake Erie & W.-lst •• 6 l02¾-101 25 - 25 SO - £5 32½ - SO 40 - 35 50 - 43 41¼- 35 40 - 35 Income .. ....... .. ....... 7 45 - 45 .. . . - •... 45 - 38 50 - 40 - ... . .... - ..... . . . 91½- 01½ .... - .... Sandusky Div ....... . 6 .... - . . .. .. . . SO SO .... .... S7~l! 37½:. so ... · 37 Income .. . .... . ...... . .. 7 .. . . - .. . . .. .. 01 - 86 95 - 05 99 - co oo - 96 C2 - 80¾ 95½- 95 Lnf. m. & J.U.- lst ... . 6 99¼- 98 100 - 98½ 09 - 98½ too - 97½ 99 - 98½ 100½- 99 35 - 35 ... . 51 - 51 45 - so - .... 40 - 40 .... - . . . . 50 - 150 .. .. . 7 .... - .... .... Income . .. Lake Shore & Ill. So.- ... . 105¾-105¾ 107 -106 103¾-lCS½ 104~-103¾ M. S . & N. I. Slcg. ftl .. 7 lOO!i -106 106¾-106½ 107 -106½ 107¼-107 104¼-104 104½ 104¼ 105 -104~ - ... . 1G6 -105 106 -103¾ 100 -105}:( Clev & Tol.-New .. . . 7 ... . - ... . t09 -107)~ lOS -108 .... - .... !00~-106¼ 106%-106¼ 10;¼;-100¼ .... -106 .... . . . . 106 . . . .... .... 104¼-lOS½ 107½-107½ . ... . . .. 106½-106½ .... 105½-105½ -106½ 107 7 . .. . .... . fund Sinking - .. .. US -113 - . . 112 -!12 . ... - ... . 115¼- ll5½111 - LU 112 -112 114¼-111 .... CI.Paius.&Asb .. .... 7 .. .. - .. .. 1:21 - 121 - .: .: ... . - .. .. l20 -120 122 -120 .... - •... . ..• - •. .. .... Buff. &Eric-New ... .7 .. .. .. . . 120 - .. .. 123 -123 ... . - .. .. 120 - . .. . 12-J - 122 .... Det. lll. & Tol.-lst ... 7 - . . .. 1123 -123 121 - 119 121 -120¼ 122 -122 - .... 120¾-120¾ .... L. Shorc-Dividcnd . . 7 122½-121¾ 122 -121½ 128 -122 - ... . 123½-125),i124 -124 1267,(-126¼ 127½-126;1-.h 27:k;-124½ ..... . .. . ..... . . -124 !24 . ... .. 124½ 127 125 129 7 . .. .. . .. coup 1st con., 1 .. . - . .. 125½-124¾ 120 -124¼ 1st con., reg ....... .. 7 1126½-125 125%- 125½ 125¾-125¾ 125 -124 125 -123 .... - . . . 125¾-125¼ .... - .. . . .. 2d con., coup . .... . ... 7 1123.h\-120½ .... - •.. . 121 -120 122 -120¾ Hl2 -121½ t20½;-118½ 122½-122½ 121½-120½ 120~-120 122½-121½ 122¼-121 ¾ 119¾-1 1$¼ 2d con., 1.·ei: .. . . ..... . , 121¼-120½ .... - •... 121!,.(- 120 122 -121 122 -122 120¼-110¾ .. .. - . . . 120¼-120¼ .. .. - .... lH¾- 121¾ 122 - '. 18½ 11s -llS - .... 119 -116½ . .. - .. . US½-118¼ .. . . - .. .. 115½-115½ . ... - ... . Long Islaud- lst ........ 7 ... - . ... 11731;-117>{ 119 - 117 ... . - •.•. . .. . 99½- 99½ 100 - 99 100.>(-100 08 - 97½ 08 - 08 100 - 98¾ 100 -100 100¾- 08 07½- 97 1st, Consol .. .. . . .. .. .. a1 07~- 97¾ 98 - i;i½ 9ij¼- 08 Louisv.&N.-Consol. .. 7 116¼-115¼ 117 -117 119 -116 115½-114½ 117 -115¼ 117 -115¾ 117 -116½ 115¼-115¾ 118 --116 116½-115 ll7¼- ll6¾ 121 -116% 103¾-lil2¼ .... - .. 2d, gold .... .. .. ... .. . .... 7 101 -101 .... - ....... - . . .. 102 -102 100¾-100 .... - .... 101½-101½ .... - ....... - .. . 105 -103¼ Cecilian Branch . . .. . .7 .. . . - .... .. . . - ... . 102½-101½ .. . . - . . .. t02½-102.l-!_ .... - .... 102 -102 102 -102 102 -102 99 - 05 95 - 92 02 92 ... 02 IJ6 94½ 04½93½- 93½ 9{½- 94 9J - 00 fO - 00 N. O. Mob. & T.-lst.6 91 - 91 - .... 102¼-10: ½ .. .. 98 - 1:8 E. H. & Nash.-lst ... 6 . . .. - ... . .. . . - ... . 100 -100 .... - . .. ... . . - .. .. .... - .. . . 97 - 00¾ .... 93 - 90¾ 118¾- 90½ 96 - 93¾ 04,½ 9$¼ 01½- 89¼ 90~- 89¾ 91 - 91 95¾- 91 06 - 95 95¼- 93 Geu'I mo1•t .. .. . ... . ..... 6 93¼- 00½ 98 - 92 .... - .. 108 -103 105½-104½ St. Louis Div.-lst . .. 6 . . . . - . . . . . . - . . . . C9 - 99 108¾-100 104 -104 .. . . - ... .. ... - .. . . 51 - 51 - . ... . ... - ... . 51 - 61 - .... .... - . ... Ci!. - 51 2d . . . . .......... . . . . . ... .3 .... . - .. .. 114¼ 116,½-116½ ... . 114¼115¼-115¼ -115 115 -116 116 -115½ 116 Nash. & Decatur .. . . . . 7 t:!.6¼-116 116 -115 115 -115 115½-118 Lou. N. Alb. & C.-lst.6 102¾- 10!¾ 103 -161~ 102½-102 102¼-101½ 102 -10!¼ 102½-101 ¾ 100 - 98:k. 09½- 98¾ 99 - 98½ 90 - 07½ 10s - 98½ 102 -101¼ - .. .. 75 - 75 - ...... . . - . .. . 77½- 77¼ .... - ... . 86½- 86½ 77 - 'i2½ 1Uan.B.Im1,. Co.-Lim.7 . ... - . .... . .. - .. . 114½-114 111 -110 .. . . - .. .. ... •lllem.&Chas.-lstT,L7 . . .. - . . . 104¾-108 -100¼ 103 100 99!,,i- 08¼ 101 - 98¾ 101 i.Uetropolitnn El.-lst .. 6 09,½- 06 91'l¼- 96¾ 07½- 9<1 100 - 97 100 - 98 102 - 90¾ 09 - {,8 80 - 8~ 80¼- 87 91 - 89 90 - 86 86¾- 84¾ 87 - 86 85 - 82}<.i 86¾- 88 88 - 85 2d .. .. .. .. ... . . . . ......... . 6 8tl - I¾½ 87 - 81 83 - 81 .... - .. .. 62¼- 59 00 - 60 ... l'tl ex. Cent.-lst .... .. ... 7 .... - ... . .... - ... .. ... - ..... . .. - .... .. .. - ... . ... - . . . .. .. - . .. . 65 - 65 lllich. Ceut- lst,consol. 7 125½-124¾ 125½-124½ t25¾-125 12n¼-125-¼ 12314-122½ 124 -123¼ 125 -124½ 123 -123 124,½-: ::s 125 -124¼\ 124 -: 22 124½-124 .. . ... ;> 101¾-101¾ 102½-102¼ 100 -100 .... - .... 104 -!OS IOS¾-1033'1; 104¼-104¼ 104½-104½ . ... - ... 107 -105,½ lOS¾-103¼ 10H4-100½ 1st, com,iol i .... - ...... .. - ... . 00-U- IJ~~ ( 'oupon, 1931 ... ..... . .;> 100,½-100),,; 101¼-101¼ 101 -101 101¾-101½ lOS½-103½ 103.½-lCO 102 -102 100 - 98½ 99½- 96 ;> lCO -100 ........... ... 1931 Reg., 94¾- 89 7, 05¼- 04~~ 95 ~ 91¾ 00 - 89 93½ - 90 Mid.ofN.J.- lst . . . .4-5-6 ... - ........ - .. ... .. - .. .. 88 - 85¼ 93 - 88 05~- 92 P5¼- C4 Mil. L. Sb. & W.-lst . . 6 99 - 98 9S¾- 98 987/ll- 9d 102½- 98¼ 100 - 00 102 - 90¾ 101½-101 101 - 99 102 - 99 1.02 -101 100 - 98¾ 101 - 90¼ 80 - 80 - .. . . 80 - 80 .. . Income ... ............ . . . 6 . . . . - . . .. 76 - 70 . . . . - .... 100 - 91~ 98 - Oi¼ IJ! - 08 .... 04 - 04 9S - 93 .. . - .... 94 - 93 100 - OS Mil.&No.-lst ..... .. .. 6 04 - 04 lllhmenp.& St.L.-lst. 7 119½-1161y 119¼-ll\l 121 -119 119 -119 121¼- 119½ 120 -118½ .... - . ... _19 -119 120 ·110½ 125 -124 130 -130 122¼-122~ - ... . 116 -116 120 -120 119¾-119 Iowa Extension . . .. . . 7 112 -110¼ 112 -111¾ 115 -112½ 117 -116 118 -117 117¼-115 112 -112 . ... -  ·05 =os .. l·o;¼= 05 ..  ~d . . . .  . . . . . . . ........ 7 · . ·. - . . · · .. · · - · · · · · · · · 110¾-110¾ ... . .... - .......• 81 - 'i6½ 82 - 'i8 1C5½-104 106 -104½ 66¼- 52¾ C9),{- 55 108 -lOR 107½-107 109½-109½ 80 - 80 84 - tiS 49 - 49 51 - 50  So.West.Ext.- 1910.7 110¾-110¼ Pacific Ext . ....... .. .... 6 101%-101¼ Mo.K.&T. - Gcn. con . . 6 85¾- 83¾ Consol. . .. ..... . .. . .... . .7 109 -107 2d, income ........... . .. 6 59½- 55 Han.&Ceu.Mo.-1st.7 .... - .... Mobile & Ohio- New .. 6 107½-107 1st, pref., debtmt111.·e .. 7 86¾- 82 2d, pret., debenture .. 7 51 - 45 3d, pref .• debent . ... . 7 80 - 37 4th, p1•ct , debent ..... 7 S4 - 82 Mutual Uuion T·-S.F .6 77 - 73 Nashv.C.& 8t.L.-1st . 7 llll -116 N.J.So.-lnt. guar . . . .6 .. . . N. O. Pacific-1st ....... . 6 81:1¾- 86 N. ' . ( ent1.•al-1883 • .. G 101¼-101 Extended .... . ......... . ii .... - ... . 1SS1 .. .. . . .... . .. . ....... 6 lO'i¾- 107¾ N.Y. C.& H.-lst,cp .... 7 131 -130 1st, 1.·eg- ....... . .......... 7 180¾- lSO Rud. Riv.-2d, s. fd .7 .... - ... Can. So.-lst, guar . ... a 96~- 05¾  H:~.  N.  ~~n-1~~, ~oup : . . .  ~~ l.~i.~·:.~s,·."i.~i:~~·:! ...~~½~ . 1  1  8~- 84¼ 91 - 86½ 897.,a- Si½ 1177,/4-117½ 119½-117% 120 -118¼ - • ••. 97 - 07 90 - Si½ 89¾- 88¾ 89 - 88 107 -104% .... - ..... . .. .... - .... lOS¼-102¾ 104 -103¼ 107¾-107¾ 108 -107½ 108 -107% 131 -130½ 131 -ISO½ 132 -131 13()¾-130¾ 131 -130 131 -131 .. . . - .. . . 107½-107¼ 107½-104 98½- 95;14 98¾- Oi¾ 101)½- 98¼  84½- 82 84¼- 8) 87 - 'i8½ 85½- 81}~ 86 - 82 88 - 85 117 - 115½ . . .. - .. .. 117¼-117¼ 118 - 117½ 120 -118½ 120 -1:&0  .. . . . ... .... .... . •. • . ..  - .... 80 - SO 80½- 71% 85½- 83 116 -115 l17 -116 - .... 96 - \JO 89 - 87½ 88 - 6'i½ t02 -101¾ 105 -102  .... - ........ - .. . . 108 -107 130 -129¾ !SO -129¾ 106%-106½ 95,½- 94  107¼-107¼ 130½-l'.l~ 18013-lSO¼ 107 -107 96¾- 9-l½  85 - 82 87 - 84¾ 83½- 'i9 - ........ _ . . . 105¼-10?¼ 105½-104¾ 105¾- 104½ 105½-105¼ !.... - . . .. 106 - 105¾ 128 .-127¾,129 -127½ lSl - 128:½ 128¼-127¼ 128½-19.7½ 131 -130)4 1 104½-104½ 104½-104½ ... - .. . 07 - 95xd 00 - 93¾ 00¼- 9-1½  85¾- 81½ E9 - 82><, 106 -'. 05 107 -106 131 -130 lS0¾-130 .... · .. . 00¼- 05  ·07¾= 05¼ :~,;=1:;~ :~~= :?~ ~~Jt!~~ ~:~~~~¼ ~~:= !~ io"ii 00½ i~o¼~ o·½ !: = 1  1  1  1  ....  49 - 47¼ 48 - 48 47 - 46¼ . . .. - . . . . 48 - 46 46 - 46 ll6½-115¾ 116¾-116 117½-116 118 -117  - . ... 52½- 52 .... - . . . . 35½- 35½ . . . . - . . . . 46~- 35¾ - . . . . 94¾- 0-1 -  89½- 88  - . . .. . .  32 - 29  ~~¾  90½- 00¼ 1 90¾- 90¾ 47½- 46½ 52 - 48 52 - 49 52 - 47½ 50¾- 47 .... - . .. . 119½-119¼ 117 -115½ ll0¼-116  - .. .... .. -  . .. 10~¼-10!  SO½- 27  32¼- 26  89½- 88½ 90 - 87 88 - 83 80 - 80 33 - 28 35 - SO  89 - 84  87½- 87½ 40 - 40 .... - . . .. 116½ -116  . . .. - .. .. . . .. - .. . - . .. .. ... _ ... . 81½- W½ 80¾- 78  82½- 80 . ... 41 - 85¼ 37 - S6  40 - 37½  ... - ..... . . . - .. 78¼- 'i2 101' -101  -  91 - 91¼ 93¾- 86  1  1  1  - ... . ... . - ....... - .. ... ... - ..  81¼- SOJV◄ 85¾- 81½ 69 - 69 66 - 06 43 - S8 4-1 - 41 04¾- 94¾ 94½- 94¾ 80¾- 'iS¼ ... - ... . 77 - 74¾ 76%- 74¾ 82¼- 76½ 82 - 78 101¾-100 . 101¾-101 101½-101 lOS½-101½ 101),4-100 101¼-101  ...  82¾- 80 108½-108 69 - 60~ 103½-103¼ 105 -104 05X- 61  SO - SO  37 - 8S  .. . . - . . . . 48;,,j- 48¼ 49 - 47 50 - 48 116 -114  . •.. .... 110 -110  - ... . lll½-111½ 102%-101¼ 82 - 78½ 81¾- 75 83¼- 80 110 -109 106¾-104% 107 -105 56¾- 55½ u9 -55½ 55.½- 50 100½-108½ .. . . 106½-105½ 106 - 102U lUO -103 09 - 68½ . . . . - . . . . 70 - 6-l SS½- SS½ .. . . - .. . . S5 - 33  ~ ia·i =128 .. iso =180 .. !00~=130 .. iiii½=lsi .. i28¾~12'™ i27¾=127¾ ::: = :: ..j::·: = :::: izo ~120 .. .~½= ~ .  2d . . .. . .... . ....... . ...... 6 N.Y.City & No.- Gen'l.6 Trust Co. recei-pts.. . .. . N. Y. Elevated-tst ..... 7 N. Y .& N .En!l.-lst ..... 7 N.Y.N.H.&H.-lst,ra-.4 N.Y.Pa.&0.-lst,inc.7 N.Y. Susq.&W.-lst ...,6 D1>bcnture .... ......... . 6 N. V .& Tex. Land-Scrip N.Y Tcx.&Mcx.-lst . . 6 N Y.W.ilh.&B.-lst .. . ;i N01•f.& West.-Gen. M .6 New Rivcr-lst ... . ... 6 Ohio Centi:nt-lst ... .. . .6 1st, termmal trust . . .. 6 Income ....... . . .. ...... ,   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  - . .. . 1102½-102¼ ... . - .... '11~%-112% 100 - 100 8-l - 81¾ 81¾- 78 107 -106 108 · 105¾ 66 - 01¾ 61½· 52 ·- . ... lOSJ,i-lOS½ 106 -105 107 -1C5¾ 70 - 70 . . . . 40 - 36 . ... - . . ..  - .... llS½-113½ 110 -110 - . ....... 84¾- 80½ 85}(- 82¾ 83¾- 80¼ 109 -106 109½-107½ 110 -108¼ 61½- 57!,v 00¾- 58½ 02;J- 58 . •.• - . ... 106½-105 106 -106 107½-107½ 110 -109½ 100 -106 7'0 - 70 74 - 74 80 .,.. 'i7 - . .. . . ..• -  78 - 75 80 - 80 20 - 19  76¾- 69><5 75 - 71¾ 102%-102 101 -101 98 - 9d 73}4- 04 79 - 65 80 - 80 19 - 12½ IS¾- O  1: =l:~ 1:½=1: io·s¾= r:o½ ~~~¾=~~  00 - !JO 42½- 40 41 - 39¾ 120 -118¾ ·- ... 106 - 105 106 - 106 ... . 80 - 79½ 84%- 79 ~ 41 -  90 - 88 40 - 40 43 - 40 117,½-.ll6½  90¼- 88  103¼-!02¾ 104 -l04 134 -1313' 13!3 - 1293' 107½-107 09 - 9::% 99 - 9~  10~-103¾ 107 -107 131½-130½ 131,½-130¾  88 - 88 40 - 33 S5 - 35 121 -119¼ 105.\f.-lO(i  85 - SS~  88½ .88 Bo~l 45 - 40  77 - 73¾ 'i5½- 64 79 - 73 104 - 100¼ 101½-lGO¾ IOS½-103 70 - 04  69 - 67  67½- 63  20 - 13  14 - lS  10¼- 10  50  RAILROAD BONJJS. 1883-Continued.  -----------,-----,,----.------,----,------.-----;-----:------,-----,-----:--------T_A_N_U_ARY FEBR'RY. ~ARCH.  DONDS.  ~P_R_T_L.__ _y._A_Y_._ _!_U_N_E_.___J_u_L_Y_._ _ A_u_o_u_sT_.  SEPT'B~ _o_c_T_OB_E_·n_.1  rEc'BE'l..  l'~OV'BER.  High.Low High.Low High.Low High.Low High.Low High.Low High.Low High.Low High.Low High.Low Hiirh.Low High.Low  - - - - -- - - - - - - - - - - - - -· - - - - -  - - ---- ---- - - -  ----  - -- -  .Jhio & Miss.Consol. sink.. fund ..... 7 116¾-116¼ 116¼-116 117½-116¼ 117¼-116½ 118 -116¼ 120 -117½ 116½-116 115¼-115 116¾-116¼ 117¾-116 119 -117 118':(-118 Consol. •.................. '; 116),f-116 11: ½-llj~ 116 -!18 .... - •... ·16¼-llCl½ 119 -117½ 116½-116 : 16 -ll{Y.: ::0½-115)il 117 -1: 6 110- 117 118½-118¼ 2d, consol., ........ ... ,;- .... - .... :23 -123 123 -123 123)-,J-123½ 1: 2¼- 1'.::2½ 123 -122½ 122½-:22½ .... - .... 1..•• - •••. :24¾- 1:2 1:1½-120¼ 122 -121 ½ 1 1 1 1st, Sp1•in(lf. Div ...... 7 115 -115 117 -116 .... - •... l18½-118 119 -118 121 -118¾ 120 ; :20 I .... 1: !½-:: ox :18 -110; ; 113¾-ll~-i O11io :Southern-1st .... G 84 - SO E2½- 80 CJ - C2 85 - 83 85¾- [2 83 - 80 80 - 80 CJ - [O flt - 80 f;3 - 78 84 - 8:y_;l 81 - 80 2tl, income .............. c; 82):!- ~5 .... - .... 20 - 23 35 - 28 32 - 32 27 - 26 . ... - •.. 2..'1½- 15 Z5 - 13 ~o - ~o r7 - ro 24 - 20 Orev.on & Cal.-lst .... C . ..• - ••••..•• - •.• . ..•• - .•• . ..•• - ••••... - •.....•• - ...... . • - •••.••• - ... . .... • . . 07 - C7 . ..• - •... 1 Or. R'y. & Nav.-lst ... C IOG½-10::),:'. 10':'¾-IOGK 107½-10:i¼ 10& -lOCY lll½ -1'.:0 ll0}<J-:0 3Y. : O:O}fr-106:½ 107½-107 : 07 -::>O 107½-106 : C9 - 10.'.l 108¼-106 OI'e,r. Jmp. Co .-1st . ... C .• .. - ••• .. •.• - •• • 92 - t,0 03¼- 90}.~ 06 - 04 05 - 01 93 - 91% 93¾- 90 C:.l.½- O:½ 91½ - 8- ¾ C2¾- 00 CO - 80 Oregon Trans.-lst .... C 05 - fl4):, 04¼ - 03 CJ½- o·x; Oi¼- OS; :; 00 - 04 C7 - 04~'.'. 9; - 93;.i 96 - 00 o:::;~- 87 00 - 83 c;7 - C--4 C6 - 70¼ 1 Panama-S. :!d. sub ... C .... - ........ - .... 103 -103 . . . . . ....... - ........ - •....... - ........ - . . . . . . .. - ... . .... - ... . . . .. - ........ - ..•• Pacific Raih·oads/ Cent. Pac.-Gold .. ... . 6 a-1 -113¼ l:!.4 -113¾ 114¾-113½ 114¾-114 115 -114¼ 116 -114¾ 112¼-111½ 2¾-111 112½-111¾ 118¼-112 113¼-112¼' 116 -113¾ San Joa.quin Ilr .... C ll09:}s-:OO¼ . ..• - •... 112 -112 lOS:1(-lOS¼ 109¼-108½ 109¾-109% 109 - 109 . .. - .... 107 -107 107 - 1C6 108 -1 07 108¼-107;!;! Cal. & Oregon ... .... C lOS -103 103;¼-103½ .... - •... 104 -103 104 -104 ...• - •.•. 101 -lGl . 102 -101 102¼-102½ 103 -1C3 l CS -103 103¼-103¼ ~t::;~:~~~::::::::::~ !io:.;;1~=105;~ io5¾=104½ ios :10s· 1 WesteJ.-n Pac ......... c :11¾-l:l}d'. 11:½-110 1111¾-109¼ No.Pac.-Gen.lst, I.i::G :103 -102 10S}.!-1027,1i i104½ -103¾ Gen.1st, I. 2'•• reir .. c 1 :o3 -103 103¾-103¼ 103¼-103¼ So. Pac. Cal-1st ..... C110-1½-10S 104¾-104 106 -104½ Union Pac.-lst . . . ... 114 -113.¼ 114 -113½ 114¼-113% Landir1.·ants .......... 7 1110l¾(-110;~ 110~-109 110 -109 1 Sinkin~ fond ......... § 120 -11S¼ 119 -118¾ 117 -114½ Rea"istcred . ..... . .... S 110½-11S¾ .... - •••. 114!1(-114½ Collatc!"al n·nst. ···~ 104 -io3¼ 103 -102 103 -103  c  ~~:  !:  =i~!½ iM¼=10:i:1 ios =104½ 112 -110 111 -110)4 112 -110 106¾- 104½ 106½-105X 108¾-100¼ 106 -104¼ 106:}s-106¼ ..•• - •... 104½-103 !.05½-103½ 105¾-104'.k; 115 -114¾ 115¼-114½ 117 -114% 107½-106½ 107¾-107¾ 111 -lOi¾ 117 -116 "!.17 -116 119 -11:i►:'.: 116%-110½ ..• - •....... - .... .......• - ... .. ... - ....  1  i o5½=105¾ iM¼=lw·· 106 :105·· =i~!½ :o~i1~3½ io5 =104M l C0½-109 110 -108 109 -108½ 110 -109 111 -110 llll½- lll¼ 10r;;.:-104 1C4½-102 104¾-102),~ 1103¼-10::!¼ 106 -102% 106¼-103;.( lOri¼-104 104½-103% 104 -1C2x:}03¼-102¼ ...• - •... :105 -101'.¼ 105¾-104¾ ..• r .. .. 105}8-104:l{ 102¾-101% 104 -1C2X 104 -102:14: 1 113 -112 113 -ll2 114 -112}b14½-118 116¼-114x;: l177,..fr-116¼' 1 110 -109½ 109 -lOJ - .... 107%-106¾ 108 -107>( 108¼-108¼ 1 119½-119 118½- :::7 117 -114 117 -:10),( 119 -116¼ 119 -11'1 1 120 -120 tll½-::1½ 117 -114 . ... - .... 117 -116;.; 118½- 117 103¾-103,i 104 -104 : 05 -1-5 .... - ... . 103½- 1-03½1•. .• - •••• 94¼- 94¼ .... - . ... 05 - 93 95 - 95 ...• - ••.• 109½-lOO½l lll -111 ..•• - •...... - ..... . .• - ......•• - •.. . 109 -108½ .• •• - •••• 1 110¼-100),:: 107 -107 107¾-107¾,107:1(-105 108 -100)4 108¾-107¾ 111 - 108Xl108 -107 1077/4-lOCl½ 107½-106¾ 108¼-107~-< 109 -105½ 108¾-lCS}('. lC0¼-108 108 -107½ 107¾-107 99¼- 97 100 - 98¾ 100 - 98½ 09 - OS;,: 100 - 98.l{ 100¾- 99 99 - 0~ 00¾- 06  I·... - ... .... - ........ - ....  Collate1•al trust ..... ., . ... - .... . ... - .... K.Pac.-lst.F.C.-:A .. G . ... - .... 10S¼-10S½ 1108½-l0S!,( . . .. - ... 1st, 1806, J.& D .. G,108¾-108 10::'¼ -107]4 109 -10S3';; 110 -108½ Dem·. Div.-Ass'd C 11C7'78-106¾ 1077/4-107¾ 109 -108 - .•.. 1st, consol.. . . . ... 6 100¾-100 99 - 98 100 - 09 :02¼-ICO½ O.Br.U.P.,fund.cp.7 1101 -101 103 -100 At.Col.& Pac.-lst.6 94 - t/3 GO - CO 01 - 00 01 - 01 91 - f''J 02½- 91 02 - 03 04 - 00 OJ½ - 00 C3 - Ol X !l2½- O:¼ At.J. C.& V-1.-lst.C 1..•• - •.•. ...• - .......• - •.•. ..•. - ........ - .... CO - O:>. 00 - 00 Oreg.Sb.Line-lst .. C 100¼-100 1;7½- 98;~ 96 - OS 10: ¾- 07 100 - 08 100¾-100 102 -IO: % 98½- 96 07½- 03 Cj½- c:~,: CO - C4 rn - OOJ{ Utah South.-Gcn .. ,;-1.... - .... 10::.;.6-101½ 102 -102 102 -102 - ..•. i05 -10!'> 102 -102 105 -104 105 -104 106 -106 1C6 -:C6 105 -105 Ext'd, lst.1909 .. 7 11.00 -100 10~;4-100 100 -100 .... - .... 102 -100 102 -101 104 - 99 101 -101 101¾-101 l CO -100 - .. . . 100¼- C9 Mo. Pac.-lst, cons ... C 102¾-10: ¾ 102½-102½ 104 -102½ .1.07½-103½ 103},£-1047-( 104¼-104 104!1(-103¼ 104½-103½ 106 -101¾ 104¾-:03 103 - 101;.; : os -102 1 3d . ....... . . . . . ..... 7 :110 -109 111½ -lOil½ 112 -111¼ 117.¼-113½ l116¼-114 l17 -116 117 -117 117 -115 117 -116¼ 116_¼-116¼ 113½- ll:;){ 118¾-112 Pac. of nlo.-lst ...•. C 1109¼-107¼ 105½-105 105½-105 107)4-105½ 107½-106½ 108 -106% 107½-107½ 105 -104¾ 105¾-104){ 105½-105 106½-105¾1106%-106 2tl ..... ... ..... ........ 7 112 -11 1 110 -110 ll~½-111 114½-114½ 114¾-112 116 -116 .... 11.1:1(-11,½ . ... • ... 118 -112 St.L.& § . F.-!:!d,".A".G 97 - 07 ll'7 - 97 93)s- 93½ 101¼-100 100 - 98 98½- 03.l{ .... - .. .. 07 - 97 99 - C9 r9 - O::}~ 93 - 07}{ ..•• - .•.• Clnss "C" . •••..••.• ~-G 98¼- 02 C4 - 0-i 08½- 0-l¼ 100 - 99¾ 08 - O':'¼ 08 - 97½ OS - 07:-1 97½- 97½ 00½- 06 07½- 9G½ CO½- Oi 07 - c:::i Class "Il" ..•...... .:;-6 93¼- 92~; 04 - 03¼ 97 - 94 100 - 96½ 08 - 97 93¾- os 05¼- 03 03½- 96 08 - co 9:::¼- 06 O:i¾- o:,,~ oo - 03½ General mort . ...... . 6 .... 00¼- 98 99)4- 08% 99¾.- 99 100¼- 90X 101¾-100¾ .... - .......• - . . . . 90¾- 09;( ...• - .......• - ... . Equipment. ........ ... 7 .... - ... . 103 -103 103½-~0S½ . .. • - .... . ... - •... . ... - ......•• - .....••. So.Pac.ofr.!o.-lst .. 6 103 -102 104 -1'.:3;( '. 04½-104 1'.l4¾-103½ 105¼- lOi 106 -105¼ .:.os -1 02 103 -101){ 102¾--:.01¼ 108½-lO~K 104'.¼-104 l C3¾-1C4;.{ Texas & Pac.-lst ... C 106 -JC6 .... - .... 105 -105 ...• - .... 1: 5½-103½ 106 -103¼ - •... 105 -105 . ..• - .... 103¼-105 107 -107 Conso!s .............. . 6 95 - o:::/~ .... - ... , 03 - 03 95¾- 94¼ 96 - 06 04 - 04 03 - 93 90¾- 90X .... 91 - 90¼ 05 - 92 92 - 91 Inc.& land ~r., reir. 7 60~:!- 57½ C'.;;1- 5::;;: C:3½- c:;;~ 69 - 64 66:i- 00 C6 - CZ C·1½- 5g 50¼- 49}'.f 57 - c::-;d GJ;.!- 43 50½- 48 c::l~~- 47½ 1st, P..io G1·. Div .... 6 86¾; 82½ 82)4- 70¾ 83¾- £0¼ 84½- 82¾ 84½- 81 8::¾- 82¾ 84¼- 8 1 80¾- 73½ 79 - 70¼ 77%- 70 76¾- 78.¼ 76 - 70 Pennsylvania RR.Pa. Co.-Coup ........ 4½ C5¼- !i4½ 95¾- 95 05¼- 93½ 96½- 95¾ 96½- 96 96;<(- t6 95 - 94½ 95)4- 94¾ 96 • (5 96¼- 95½ 97¼- 07 Redstered ......... ,::}<~ ... . - ... . .... - .......• - ......•• 0-!¼- 9{¼ W ¼- 9:i X 97 - 07 I>itts,C.&St.L.1 s tc::> 7 .... - .... 118 -118 - .... . .. • . . .. . . . . .. - ... ..... - •.•.•..• - ••.. 1 Pitts.Ft.W.&C.-lst.7 l ::6n,-136 136 -136 1377-(-186 140 -140 l~½-138 139 -137¼ •••• - ••• • ::.37 -136 137¼-187.>b::,½- 137~_ .... - •... 138¼-~7¼ 2d . ...................... 7 133 -132 ISS½-133½ 133½-133 133½-1'.;3½ 134 -134 134 -_1 34 11.8..0.½=13·0·½ ·_·• 133 -133 134½-134 J1:;.i)'j-134½ ...• - ••.....• - ...• 3d ............ ........... ,; .... - .... 130 -130 ...• - •.•• 130 -130 127¼-1~7'~: 130 128 - ....... - .. .. ,- ... - •......• - ••.. 128 -128 Clev.& P.-Cous.s.fd.7 127½-125½ 126 -126 126½-125 126¼-126 i:2¾-122¼ 124 -122½ 124 -123¼ :z4 -1:::4 .... - .... : :::4J,-124.Xl l'.::2¾-122¼ 124 -1.28  I  4th . ..................... c 110¾-110 130 -130 116 -1:6 62¼- 60 5:·;- 48 101)4-101 ';0 - 'iO 93 - 05 65 - 55  C.C.&I.C.-lst,cmrn.7 1st, n·. ctfs .• s1::,:,l'r;Tr.reor.ctfs., income Income ................ 7 J>eoriaDec.&Ev.-lst.C Income .................. 6 Evansv. Div ......... . . 6 Evans. Div., income .. 6 Pe~)J.ia& r'ek;Un.-lst.G  110¼-110!{ ..• - ........ - •......• - ..•. '.10;4-llG).,.{ ... . CZ - Gl 7 '. ¾- 63 7:i½- 72),-2 7-! - 74 73 - ':'2 7~¼- 72¼ .... .:.:io -100 103½-lOO 106 -106 100½- 07 03 - C3 .... •... .... - .... 101¼- 03½ .... - ···· 1 07 - 97 100 -100 GO - 50 .... - . . . . . . . .. - . ... .... - ....... - ... 100½-lOOY.: 101½-lOl;,,: 100¼-100),( 1 = :::: :::: : :::: :::: : :::: ,:::: = :::: ::::: = :::·  ,P~1;~~r!t~.~.~~.~~.~~::: ::::  ~::::::: ~~·.:c:.'::::::~r::: = ::: :::: = ::  1  1  - ... : 1108½-108½ . . . .  ••• • , . . . . 1  -  :::: :.... .. ..  •••• 1  100)4-100 70 - GO  c;o - CiJ 100 -100  C5 - o:;.; 05 41 - 4.0 50 E,O - -!5 43 - 40 40 - ........ - ... . ...• -  :01 -1: 0 GO - GO  :::: - .... 7:; - 75 1  :: = : :: :::: = ::: :: :: = : ' ::  01 CO 44 45 ••••.... 40 .... .... 1 73¼- 7:i;i 6:l¼- 6c;.f ..  -  •• •  / 11½-111}:'. l111 -111  ··· l ···  ··· T ···  ·· · · ;···· • ... .•• 1  .... , ...• • •• )·· · ·  I -- OG½ioo¼--10o··  - C5 !.7 - !:7 46 - .... .... .... 1. ... - .... 1. ... 1 - .... .. . .  J ::: : :::: E~ E::: : : :?: ·- ) :  1  -  43 .... .... ... .  t5 - 43 100¼-l ' O 50 - [O 97 - 07  .:.:.:.:!:. :.:. ·_.  PuII.Pal.CarCo.-Deb.7 . . . . - . . . . 105 -105 . ... - •....... - . ...... Richmond & All.-l1,1t. 7 80 - 70½ 79):(- 77½ ';"8 70½- 77,i f2 - 79 81 - 63; 1 72½- 7J 71½ - 71 75 - 7: ~~ 70 - G5 70½- 70 70 - C5 :Rich. & Danv.--Cons .. o 90¾- 93 93¼- 03 93½- 93½ iJ6¼'- 95 99 - 06 OJ¾- 9S¾ 97 - o:;¼ 97 - c:;¼ 07¼- 03¼ 97 - 05 07;:!- 93¼ cs - 0711;( Debentm·e .......... . . 6 1 62 - 6SY. 61½- 57¾ 66¾- 60 67¾- 619-1 72¼- 65½ 70 - 66 69 . 03 07 - GO G8 - GO 59 - G6 G8 - 68 OZ¼- 61 Atl.&Ch:n·.-lst,pf.7 1 ••• , • • •••••• ····I···· - .... 108 - ,OS ltoch. & Pittsb.-lst .. . 6 1106 -103 105 -104 l0:5 -104_'.: 106 -105 106¼- 106:Y. 108 -103){ . ... .·.· .·.· i, 1. .. 06. =106 107 -107 108 -107 107 - 107 l07 =10 7 Com.JOI., 1st ............ 6 . ... C4 - c:;¼ C2 91 Income ................... Gj 46 - 42 · 44}.i- 42;_ 44 - 48 46 - 43 4:¼- 45 43½- 45 40 - 40 - ... . '1.0 - 40 44 - 4:}; _; 4.5;._- 45 46 - 45 Rome W. & Cir.-lst ... 7 . . . . .... .... . .. . . . . . - .... 105 -105 - . . . . 107¼-107½ 1 Con., 1st, ex ..... ..... . r, [ 74½ - ,;-3 7:::}.{- 71 73){- •n;,~ 71 - 66 70 - OJ½ 74 - 6:l¼ 72 - C7¼ 67¼- 01 03½- 02 C7½ - ot r;-1 - 63'.>s 70 - 67 Income ................... 7 4ri½- 4J¼ 4:.:¼- 40 44 - 41 43½- 43 83 - 88 40 - 39 40 - CS :.:8 - 25 27 - !:!'.> f3 - ZJ 31½ - SO¼ St.L.Alt.& T.II.-lst .. 7 1114 -107 .. . . - .... . ..• - .... 115 -113 114 -114 - .... .... .... .. .. . ....... - . . .. '. 14 - 114 2d, pref.. ........ ........ 7i111¾-1'.:9½ tos -108 108 -108 1: 9 -100 t09½- 108½ ...• - .... 112 -nz 109 -10:;;.if' . .. . - ... . 1c9 -109 - .... 112 -112 2d, income .............. ~ 106 -103 105 -105 106 -105 D'l½-106 103 -102 10!'1¼- 103 ... - . . . . 104){-104 103½- 103½ 106 -103½ Dividend bonds ... .... 80 - 60 76 - 70 75 - 70 75 - 73 76 - 73 82 - 75 ';"J¼- 70 70 - 70 C.O - CO GO - 45 55 - 47 .... Bell.&So. Ill.-lst ... S 122½-122½ .••• - ••.. 122½-1::!2\i ... - ··-· .... - ........ - ... T •· · - .. ...... - .... 123 -: !:!3 : 14 -114 St. L.& Iron lllt.-lst .. 7 ,117 -110½ 113½-113!,f 118 -113 11:i}(-lU 115 -114½ 116 -115 :15¾-115 112 -Ll 113 -112 114 -112 114½-113}<.i 115½-114½ 2d . ....................... ? 108 -105 1C8¾-107½ 109!1(-lOS½ 1.11 -110 108½- 107¾ 108 -107!,.{ 08 -108 107 -107 107¼-107 108½-107 107¼-107 107¼-107 Ark. !,ranch . ......... ? 1109 -107½ !09 -108¼ 109 -108 110%-103¾ lll¼-110 108½-106¼ 109 -108 107 -106¾ 1107¾-lOd¼ 107½- 1:l7½ 110 -109 107½- 100¼ Cairo & Fult'n.-lst, 7 1110 -107½ 109½-107¼ 109 -108 100)4-108¼ l00>{-109 111 -109}-i 107 -100½ 107 -103½ 106¼-106 107 -10 -~ :03%-:07 110 -109 1 1 -Cairo Ark. & Texas, 7 !107½-105 109 -109 10:J.s-lO'i¼ 100)4-109¼ 1109¾-109 106½-106.½ 106½- 100½ 107 -106½ 107 -106 107 -I06J,h10 -1C6¾ 106¾-106¾ Generalc~msol,mort .5 78¼- 75 7"i¼- ';"5 7:J½- 76½ r½- 76½ 77½- 75 7i 74 - 76 77 - 73½, 76¼- 66 J 75¾- 72¼ 72½- 66½, 74½- 72 1 74 - 73 lst,prcf.1ncome ...... 7120 -110 1.18 -118 ...• - •......• - .... .•.• - ..•..••• - ........ - .......• - ...... . . - •....... - ........ - •. ... . .. - ... . 2d income ............. 6 .... - . ... 117½-117¼ ...• - ••••...• - .••....• - •.•. 105 -102½ ... . - .... . ... - .. - . .. ..... - .... j .. - •... ...• - •... St.P. Jiinn.& lU.-lst .. 7 103 -103 109 -108),-2 108¼-108 109¼-108¼ 110¼-109¾ 110½-: 10¼ 110¼-107 108½- 103½ 109 -108¼ 1:0 -108¼ ' 110¼- 108¼ 112!,-s-111 !id ......................... 6 lOJ -108 109 -108½ 109 -133½ 110 -108¼ 109 -103½ 109 -108 109 -107 ':o -110 112 -110¼ lCt! -107 108¾- 108 108¼-108,½ Dakota Extension .... 6 110 -106½ lOSl¾(-108½ 109 -108 112 -109½ 1QS¾-10'71A 108xi-107½ W8½-108 lOS½- 108 i l l -108 110:½-110 109 -107Y. 108¼ -1C8 1st, consol ......... . 6 .... - ........ - .. . . 104 -101 102 • 101 102 -101 102 -100 102 -100½ 103¼-102 Scioto Valley-lstcons.7' . ... - . . . . flS - CO .... - •.. . 05 - 03 04½- 94½ 01½- 91½ Shenand'h Val.-1st ... 7' . ... - .... 107 -106 110 -109½ . . .• - ••••   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  7C;JI  =  al  ····1···· - ....  RAILROAD BONDS.  60  JANUARY FP:BR'RY .  MARCH ,  APRIL.  MAY.  JUNE.  JULY.  , AUGUST. SEPT'BER. 0CTO.B ER. NOV'BER. DEC'BERP  - - - - _____ ,_____ ,_ _ _ _ · - - - - - - - - - · , - - - - - - • - - l - - - - 1 - - - - 1 - - - - 1 - - - --  BONDS.  ____________ - - - - - - - - - - - - - - - - - - · - -  Hlg-J-: . Lnw l-TIJ!"h.Lflw High.Low High.J, ow Hi£?h.J,nw fil!!'h.Low High.Low High.Low High.Low Hlirh.Low Jligh.Lriw Hil?h.Low-  Mouth Carolina-1st .... 6 :02¼-101 -'l<l .......... ..... . .... ..... 6 89 - 89 Incomes . .. ............. G 61 - 58 Texas Central-1st s.f,7 .... - .... Tex.&St.L.inT.x.-1st6 .. .. In Mo. & Ark., lst ... 6 .... -  102½-102 03 - 02 57 - Ci7 100 -105½  !03 -102 .... - ..•. Gl - 57 !Oi¾-105  102 -102 04;!:{- 94 66 - 62 108¼-106  103¼-103-¼ 103 -102¾ 103¼-103 104½--104 100 -100 - .•. . 1• •• • - ••••• .• • 70 - 68 - • ••. 1 62½ · 62½ 67 - C3 108½-108 108¼-lOf».! 105 -105 106- -106 - ... . 82½- 82½ 81 - 84 I...• 77 - 76½ 76½- 76~{ .... -  T:t•~:~;:o':·~n~~i~~8 .... 1st, Mam Line .... 6 ht, income ............. 6 Virldnia lllidland-Inc.6 Wab. St. Louis & Pac.General mort .......... 6 Chic. Div .. .. ....... .... . 5  :;;~;~;~~~~i~;:::::~ Iowa. r,,v .s1on . .. ...  ····1···· - .... 26  .... - .... 52 - 52 .... 55 - 50  --- ---  JOS½- 103 99 - O(f 07 - 00 i.07¼-107  55¼- 53  52 - 52 11½- 10 58 - 53  -  63 - 57  • .•.  66 - 60  80½- 77¾ 78¼- 72½ - 77¾ 83¼- 79½ ~1½- 73 82 - 8 ~¼ 81},,. i- 78 80 SO 63 - 83 82 - 82 1~~¾=1~~  107%- 107  6 . ... - . . .. 00 - 90  50 - 50  .. . • -  62½ • 61  - 26-  = :::: :::: = :::r  104- -103¼  . 65- - 64C'1 -6660 - oo, 108½-108½ lC5½-lO::i½ 107 - 103¼  . .. . -  •• . •••••  5¼- 5 ~~ 5 - 5 59¾- 56½ 61¼- 58  , 5 - 55  79 - 74 77¼- 72 827,,s- 81½ 79½- 77  72½- 63 78½- 77  55 - 55  70 - 60½ 65 - 57  70 - 66 71 - 66½ 76 - 69 73 - 68 77 - 75¾ 76½- 7477 - 75½ 78 - 76¼  100 =10s· 1~~½=1~~ io1~=105½ i~%=106¾ ioo =105.. jio5¾=104-.. i o7 =103 ••• • - •• •• •• •• - ••••.••• - •••. 69 - 88 86½- SC> .. . . - •.• . 78- - 78-  ~!~:!i~.-;~M~~:~:·:~ :~ =~: .~~. =~~~ ::::  102½- lOI½ 104½--IOZ  :: = :::. ·::: = :::: :::: = :::/.~ =~~...~.~ _  Bl  1~! =1:½ io5¾=I05½ ...• _ .... . ...  = ::::  ~! =:  ~: =:  Tol.&W.-lst, ext'd.7 10%$-108 100¼-105½ !10<> - 106 1( 8 -106¼ lO'i -107 107¾-107¾ 108¼-107¾ 105 -104 106 -103 107 -!.C6 107¼-106¾ 108¼-lO't 1st, St. Louis Div . .. 7 105 - 103½ 1'. 2¼-101.½I 102 -101 103 - 101 101¼- 093-F. 101¾ -100¾ 101½-100 90½- 95 .... - .... ll'i½- 97½ LS½- 97½ 101 -100 2d, extended .. ........ 7 100¼-100 101 -100¼' 1JJO½- OD¾ 102;!:{-100½ 0!1¾- OS 100 - 08}.! 99¼ - 98½ O!J - OC> 98½- 9i½ IOI -100. 98¼- 97¼ 99 - !JS: Equipment...... . . 7 .... - . . . . 80 - 55 1 80 - 80 Consol., conv ... ..... . 7 ;)7½- 9i½ 98 - 06 92 - 02 07½- 96 •..• - . •.. 00 - 96 90 - 00 . . .. - .... 87 - 83 86½- 83¼ 86¾- St¾ S6- - 83 Gt. Western-1st ...... 7 10S½-108 105 -104½! 105 -104½ 106 -105½ 106¼- 106¾ 107 -106½ 107 -107 102¾-lC l 104 - 103 104½-104- 106- -104!,<.: .... 2~ . .. ... .. ...... .... .. .. . 7 100½- 99 100¾- 99¾ 1C0½-100 108 -101½ 1100 - 98¾ 101¼- 98½ 99½- QB¼ 99½- 97½ lO - IJ9 102 -100- 91:1- - · 97½ 09 - 98¼ Qumcy & Tol.-1st . .. 7 . ... - ........ - .... 103 -101 108 -103 100 -100 .... - . ... 102 -102 ... • - .. . .. . St.L.K.C.&X.-RI.E.7 108½-107¼ 1109 -108 108 -108 .... - ..•. 107 -106¾ 108 -106 107½-106½ lOi¼- 105 107 - 101¾ 105½-104¼ 105 -104- 109 -100' Omaha Div ..... . .. .. 1108½-108¾ W9.¾;-108¾ ... - . . .. 110 -103 108¼-107 110¼-108½ 111 -110 109 -109 106 -105½ . ... - .... 109 - 109, Clarinda. Brauch . . 6 ... - ........ - .... 1 ... . - ...... . . - ... . 1 .... - ... 90½- 90½ . ... - ••.. ... - .• .. . .. 80 - 80 .... - .•.. 1. . . . St. Chas. Bridi:-e . ..... 6 95 - 05 00 - 00 - . . . . 80 - ·;9½ . . . . - . . . . . . . - . . •. 80½- 80½ . . . • North. ll1o.-1st ........ '7 119½- 11&'.)s ll0}.(- 119 l19%-119 120 -110½ 120 -120 121 -120 118½-117 ... . - .... 119½- 119½ 110 -110 122 - 118 121 -120 Wabash-Fund'd int.- .... 80-80 Dec. & E. St. Louis.6 90 - 90 Gt. Western-2d ..... '7 100½- 99 100¾- 99¾ l<-0½-100 103 - 101½ 100 - 98¾ . •. . 84 - 84 2d ..................... 6 .... 8'1 - 84 Consol., convert ..... 6 ... . 85 - 85 Toi. & Wnb. 2d .6 ... . -117 117 -117 - .... 114 -113 114¼-113½ 1141..,:-"114½ . ... - . ... 114½-114 .... - ... . ll~½ -112){ 113¼-112!1i West. Un. Tel.-Coup .. 7 117 Re2"····· ·· · ...... ........ 7 110 -115½ 117½-117 115½-115½ 111> - 114¾ 113¼-113 114 -114 114 -118¾ : 18¾-112½ 114 - 112¾ 115 -114½ 1121A- 112½ 11$¼- 112  I· ... - ... .... - ........ - ........ - ....... .  I···· - ....  ISS4. MARCH. APRIL. - - - ----- -------  JANUARY FEBR'RY.  BONDS.  -·-----------  ____ ,____ ,_____ - - - - - - - - - - - - - - - - ~ MAY.  JUNE.  JULY.  AUGUST. SEPT'BER. Ocr1 , BER. Nov'BER. DEC'BEl:I.  Low.High Low.High Low.High Low.High Low.High Low.High Low.HiizJ , L"w.High Lflw.Hhrh Low.High Low.High Low.High  Allearany Cent.-l!ft . ... 6 97½- 98 . ..• - •.. . •.•. - ... . ... • - .••.. . .. - .. . .. ... Alb. &Ch. Can.-lst .. '7 .... - .. - .. .. 111 - 111 . .. . - . . .... .. - ... . Atlantic & Pac.-lst ... 6 92½-- 03½ 92 - 92½ 91½- ,91¾ 90½- 91¾ 91 - 91 67 - 89½ 67 - 80 75 - f¼¾ 80 - 81¾ 74 - ':"9 75 - 79 78 - 81 West. Div.-Inrnme .. 6 17 • 22½ 18%- 19½ 17¼- 23½ 19 - 20¼ 12¾- 18¾ 7 - 12½ 10 - 15½ 14 - 23 15 - 19~s 14¾- 18 t4¼- 18¼ 16½- 19 Bait. &0.-1st, P.Br .. 6 115¼-116½ 116½-116½ .. .. - ........ - . .•. 113 - 113 . .. . - .. .. 115 -115 116 -116 ": ... Bost.H.& Erie.-:.ast .. 1 15 · 15 13 - 14½ 14 - 15 - . .. . 14 - 14½ 10 - 10. 10 - 12 .•. . .. 1~ - 12 10 - 10 .... - .. . .. ... - . .. . Bur. C.R. &N.-lst .. . ii 100 -101¾ 101}.(-102½ 102¼-105 103 -104 102¼-104 95¼-101 1'7 - 101¼ 100¼-101½ 100¾- 103½ 101 -103¼ 102½-103¾ 100½-102 Cons . lst&c.tr. 1934.5 .... - . . . . F5¼- 85}.. 86 - 86 . .. . IowaC.& W.-lst .. . '7 .... 1123'-119½ .. .. - ... . . . .. - . . . 108 -108 ... . - .' .... .. . - ... . . .. . Ced. R.I.F .& ~ .-1st 6 88 - 88 10-t½- 104½ . . . . - • • • . 81} - 00 87½- 87½ f>O½- 90¾ . . . . 1st., 1921 .. ... . ... .. .. 5 i;7 - 98 ~1 - 95 92½- 92½ 92 - 92 .... Butr.N. Y .& P.-lst .... 6 97 - 98 97 - 97 95¼- 97 95 - 96½ 06 - 116¾ 91 - 94½ .•. . Gen.mo1·t ..... . ... ..... 6 .. .. 88 - 92 85%- 88¾ ... . - . ... 87 - 87¾ .... Carolina Cent., 1st . ... 6 .. . . - .. . . 100½ -100½ 100¼-100½ 100 -:OC¼ .... Central Iowa-1st. ..... , 99 -106½ 98 -106 106 -107½ 107 -107½ l07¼-J07¼ 100 -101:l 100 -100 97 -101 97 -100½ 98 -HO 100 -103 100 - 100¼ Easte1·n Div.-lst ... . O 79 - 80 80 - 81 81 - 84½ .80 - 81 78 - 79~ .... - ........ oO - 60 . ... - .... 70 - 70 .... Illinois Div .-1st .. ... 6 ... - .... 80 - 80¼ 67 - 67½ ... . - . ....... - .. . . 58 - 58 Ceot.RR.ofN • .J.-lst .. 1 115 -117¼ 112¾-114 113¼-114~ 113 -115 113 - 114 113).(-11-1~ 114 - 114 111 -112 lll -112 112 -112½ 112¼-113¼ 113 -114 Consol., assente,l ... .. '7 111½-112¼ 112½ -115¾ 11~½-118 113-¼-115½ 0~ - 112¼ 101 -105 101 -108 107 -108¼ 10-1 -105¾ 99:k:-104½ 98½-102 99¾-102¼ Conv., assented .... ... ,- 113 -113 113:)4- 116 117¾- llSX 117¾-118¼ 100· -107½ 103 -104 102½-107 106½-108¾ 100¼-106¼ 100 -107½ 98 -100 98¾- 102 Adjustment ............. '7 104½-106 l/}5¾-109 108½-110 lOi½-110 100 -! 05 1,3 -105 104 -107 106½-107 103½-105 102 -105 99 -100¾ 100½-102. Conv. deb .. ... .. ...... ({ 86 - So 88½- 91 90>2- 951/, 95½- 00 89 - 80 75 - 75 70 - 75 70 - 75 67½- 67½ .. . . - .. Income .. . .... ... ... ... . 7 90 - 97 98¼· 9:-l¾ 99 -102 101 -101 OD - 104 91½- 93¼ 89 - 96 Leh.& W.B.-Assent ,- 102¾- 104 104 -1077~ 106¼-107¼ 104 -106¼ 94 - 105 90 - 07 80 - 03 96 - 08 92¾- 95½ 93 - \ill - • . .. 74 - 75 Iuco1ne . .. ... ........... 7 .. .. - .. ..... - .. .. ... . - .... 80 - 80 15 - 75 80 - 80 ... -88 .... - .... 85·85 Am.Dock& Imp ..... .5 80 - 89 .... - .. . . 91 - 93 92 - 92¼ 89 - llO 88 - 89 85½- 88 - .... \ 88 - 88 87 Ches.&0.- Pur.lll.fd . . 6 113½-113½ .. . . - .. . .... . - .. ... ... .. . . .. .. .. .. . . . . .... .... . .. . ill¾-112 112 -112· ... . - .... 113 - 113 Series A . ............... 6 110 -112 109¼-lll 11()¾-112¼ 109¾-112~1100 -113 83 -100 94),(-112 111 -111 ¼ 105 -105. 102 -105. 102½- lr4 103 - 105 Series B ...... . ... . .... 6 9il - os 98 -102 101½-105 103 -105 80 - 102 72½- 97 81 - 92 87½- 92 f 2 - 87¼ 78 - 83% 72 - 79 71¾- 777/4 Currency......... ..... . 6 t6 - 50 48¼- 53 50½- 56¾ 51¼- 55¼ 33 - 52½ 26 - 89½ 2C½- 36 Sl¾- 36~ 30 - 82½ 27 - 31½ 25 - 27!,i 25 - 20 Mort •• 1911 .... ....... . 6 101:14-102 102 -102¾ 102¾-104 101 -101½ 99¼-100 - . . . . M¼- 05 - • . . . 66¾- ';0 70½- 7l Ches. o. & S. W ..... :i..6 87½- 87½ 86 - 87¼ 87 - 88½ •... - . . .. 85 - .'i6¾ .• . . 77 - 78 Chic. & Alton-ht ..... '7 .... - .... 118¾-119 118½-118½ 119 -120 117½-117¾ .... - . ... 116 - 116 • .. . - .... 117 -117 117½-118 118 -ll8 120 -120 Sinking fund ........... ti 1143'-114¾ 116 -116 116 -116¾ 116)4- 1161,( . ... - ... . .... - .... 117½- 118 .... - .... 118 -llO 119~- ll~¼ Lou.& Mo. Riv.-tst.,- 1.... - . .. . . . . . - .... 118 -119¼ 119 - 12()¾ 115¼-115¼ 1_!4¾-116 114 -117½ . .. . - .... 118 -118 ·118¼-119 118½-118½ 119 -120 2d, 1900 .. ....... . ,- 1. . . . - . .. ..... - ... . 112 - 115 .... - .... t12½- 115 112½-112¼ ::.16 -116 115, -115 . .. . - .... . ... -  St.L.J.&Chic.-lst .. 1117¾-118 118 -118 1  119 -119  1st iruar. (~64) . . . ... 1 2d, guar. (188) .. . .. 7 . . . . Chicaaro & Atlan.-:ld .. 6 .... - .... 90 - 90 88 Cbic.B.&Q.- Consol...'7128½-129½ 129½-130¾ 130 Debenture ....... . ..... ii 91 - 98¼ 9~- 96¼ 05 Iowa Div . ... ... ....... . 5 .... - . . . . ... - ........ Iowa Div ... . . . ..... .4 90¼- 91 91~- 94¾ . . . . Denver Div., 1922 .4 90½- Sil 87½- 90½ . . . Plain . ... ... ........ . ..... 4 83½- 83½ 85 - 85 83 Chic.&E.Ill.-lst,s.f.6 98 - 98¼ 98 - 98 100 Chic. lUil.tkSt. P.-lst.~ 132½-133 130 - 131 131 ~d .. . . . ............. 7 3•10 128 -128 120 - 120 120 1st, 1rold . ......... .. ..... '7 123¼-125 124½-125 126 1st La Crosse Div .... , 116 -116½ 116½-117¾ 118 1st I. & M. Div ........ 1116½-117 118 -118 119 1st I. & D. Div ... .. '7 . .. . - ...... .. - ........ 1st c. & M. Div .... . . ,,- 122½-~½ .... - ....•. .  -  ••••  - 90 87¾- 59¼ 88 - 88 -130½ 120½-130¾ 128¾-lSO - 977,,s 97¼- 99½ 91¼- 95½ 108 -108 94½- E5 90 - 94¼ 90 - 90 88¾- 00½ - 83 89 - 89 -101 102 -102 100½-103 -131 131 -132½ 130 -183 -120¾ .... - .... 120 -121 -129½ 128 -129 124¾-128 -120 119 -120 116 -120 -119 .... - . ....... - ... .  -  - .... Consol . ........ . ........ . 7 120 -121¾ 121¼-128½ 128~-1~¾ 2d, 1884 ... . ············" 100 -102~ 102U-104 104 -104 tat I. & D. '.gxten . .... , 119¾·119¾ ..•• - .... 1~-128)4   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  .... - .... Jl5 -115 115½-116 115½-116½ .... - .... 116 -116  - ........ 128%-130 124 -12fS ... . - . . .. 122¼-126  130 120 . ... 120  . .. . 125 88 106 89 ....  - 120¼ - 98 -106 - 00½ - .. -  99½-100 . ... - ... . 119 -119 127½-127½ 118 -119¼ 116 -121 - .... 12n.;-121½ -130}': 26 126 -124' /11~-123 - 122¾l21¼-121¾  . ... - .... 116 -116  117½-117½ 118 -118 llfl¾-117  121 -125 110 - 93¼ 104 -lM½ 88 - 89 86½- 88¾  125. -126¼ 126 -127 ~3 - 96:1,,, Ml}(- 95¾ .... - . . . . 90 - ~ 86¼- 87 88 - b8  127½-121\ 128½-129 130 -132 95¾- 97¼ 89½- 06¼ 96¾- 98  99½-100 183 -133 118 -11~ 129..½-1~ 114 -116 112½-116¼ 115½- 117 121 72- 122 112~-117  100 -103½ 129 -130 116½-119½ 122 -126½ 116 -117 116 -117¾ 119 - 120 124 -124 117 -121  10-i -104 105 -105 129½-120½,130 - 130 121 -121 119 -119 125 -128½ 125½· 127½ 117 -117 il16¾ -117 i.17 -117½ ll8 - 119~ 121 -121 .... - .. .. 125 -h6 129 -129 118 _-119¼ 118¾-120¼  114 -116  11~120¾ 118¾-120¾ ••.• -  ····j;··· - ........ -  115¼-115¼ 118 -118. - ... : 115½-115½ . . . . - ........ - ... . 118 - 118 .... -  104 -104 - .... 120 -120 126½-126½ 117 -119 116¼-117 .... - .. .. 125 - 126 117~-120  - ........ -  00½- 91 81:l - 90  91 - 91 90 - 90  •... 121 -121  92¾- 93.J.4 ... . 103  108  121¾- 121¾ 125 - 125 117 - 120 119½- 119¼ 122 - 122 120½-128  61  R.A.JLROA.D BONDS. 1884-C'ontlnued. JANUARY FEBR'RY.  BONDS.  MARCH.  APRIL.  MAY.  JUNE.  JULY.  AUGUST. iSEPT'BER. OCTOBER. NOV'BER.  DEC'BER.  Low. High Low. High Low. Hl~h Low. High Low. High Low. High Low. High Low. High Low. High Low. High Low. High Low. High  - - - - - - - - - · · - - - - - - - - - - - - - ---- - - - - - - - -  Chic.itlil.&St. Paui.lst So. West Div ...... 6 106¼-110 107 -109 109 -112 US -114 .... - . ....... - •... 106 -106 107¼-110 110 -110 ll0¼-111¾ 109 -111 ll~-110¾ ht La C. & Dav ..... -~ 92 - 93 OS½- OS½ 05 - 97 100 - 100 .... - ..... . .. - .... . ... - .... 02¾- 02½ ... . - . . 00 - 96¼ .. . . - ...... . . - .. . . 1st So. Minn. Div . .... 6 106¼-107¼ llO -110 110¼-112 112¼-113¼ 110 -118¼ 105 -110½ 101 -107 1108 -110 107 -109 107 -108.½.i 106¾-109 109 -110¼ 118¼-119 117½-119 117¾-llO½ 119¼-120½ 1st H. & D. Div . ...... 1 .. - .... ll~-119 121 -123 128 -124¾ .•. . - .... 116 -118 115¼-115½ .... Chic. & Pac. Div ...... 6 110 -11()¾ 110}9-118~ llS¾-114 114¼· 115¼ .... - .... 114 -114¼ 110 -110 1111 - 111 118 -l!S 113 -113 ll4¼-114% ll~-115 ro - 96 04 - 95% 1;3 •· 95¼ 98¼- 96¾ 96 - 97¾ 94 - 99¾ 92 - 97¼ 92½- c::; Western Div ..... . ... t; OS - 98~ 98¾- 00 97¾- 99~ !JO -101 94½- 04½ 94 - 95½ 95¾- 96¼ 95 - 96½ 66 - 00 Mine1.•al Point ......... ~ llO¼- 91~ 90%- 98 04¾- 97¾ 97¼-101¼ 93%- 91:1¼ PS - 05 90¼- 01 92½- 96¾ 04 - 96% 02½- 9414 92¼- 94 91¾- 94 89¾- 92 98¾- 97J,t 97¼-101¼ 04¼- O'i'7~ 112 - 00 Wis.& Min. Div .. .... ~ 00 - 02¼ 91½- 04 ... . - . .. . 04¼- 94½ . - . ....... ·· . . . . .. ....... Terminal. ........... .. ~ .... - . . . ..... - ....... . - .... .. . . - .. .. . .. - . .. . .. . - ... . .... .... - ... . 108¼-104 .... . ... .. 102¼-lu2¼ . ... ....... . . .... .... ll4¾-104!\( .... ........ .... Chic.& N.W.-S.F •..... 1' 106½-106¾ Consol.. ................. , 182 -188¼ 182½-188 182¼-184 188 -184 182¼-182~ 127 -127 180 -1 O lSlx,-188 181~-183 182¼-188 182 -1 S 184 -184 1st mort .... ............ ? lOtl¾-107 103¼-104 104 -104¼ lW¼-104¾ 104¼-104¾ 104 -104¼ 105½-105½ 101¾-102 102¼-108}4 103 -104 10$¾-104 104 -104¼ Gold, coup ............ .. 1' 124 -M 125 -127¾ 127½-128 128 -129 128 -120 120 -l23 121 -124 128¼-125 124 -126 125¾-126¼ 125¾-128 124½-126 Gold, reir ............ . ... ? 128¼--124 125¾-126).6 127 - 127 127¼-129 128 -128 125 -125 123 -128 .... - ... . .... - .... 126 -126 125½-125½ 124¼-125 Sinkina-fund.coup .... 6110 -110¾ ... - .... 111¼-lll¼ 110 -110 112 -112½ 111 -112~ 112 -112 112 -112 118 -11.l 109 -110¾ 108 -110 ll0½-111 Registered ........... 6 110 -110 . .. - .... 110½-110¼ 110 -112 .... - ........ - ... . .... - •.... .. . - ....... . - .... 109 -109 109 - 109 110¼-110½ Sinkinar fund, coup ... ~ 108 -108¼ 10~-104¾ 104¼-105 102¼-103¼ 101 -108¼ 98 -103 98 -102½ 101 -102¼ 102¼-10S½ 100¼-101¾ 100¼--101 102½-108½ Reiiistered . ......... a lOS¼-108¾ .... - .. . 105 -105 1r s14-l08¼ .... - ........ - . . . . lOlx,-101½ .... - ... . .. . . - .. . .... . - .... . ... - . . ...... - .. . . 04 - 91)¾ ~ - 95¾ 95¼- 97¾ 98~- 95¾ 04½- 96 98¼- 95¾ 94¾- 977,i 97 - 99¾ 90 - 96¾ 90¼- 9S½ 91 - 04 Debe,.ture . ....... . ... .. ~ 92¼- 94 2:i yrs, deben., 1909.o .... - . . . .... - ... . . . - ... .. ... - ....... . - . ....... - .. .. .... - ........ - .... 02 ·- 02½ 93 - 04¾ 91 - 081s 98 - 94 . . . . - . . . . . . . . - . . . . . • . . - ..•. Des .lll. & Min. ll!lt .... 1 . . . - . . . . . . . . - . ... 126 -126 127 -127 . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . . - • . . . . . . 1 1 =120~ =12.ii,; 1io =1io · · ."= ~~~ 121¼=12s·· 106 -106¼ 106%-107¼ 107 -108 107%-108 107 -108 - ... . . ...... .. 122¾-125 .... ....... . ... ? 2d ... . ...... ............. Mil. & lllad.-lst ..... . 6 . ... - ........ - ... . .... - . ....... - .... ':.14¾-114¾  ~~. i~7c~:~!~~-;}.~~:::~ Winona& St.P.-l8t. 1'  i2s  i2·0  12-i  =1 25 .. i2·i¾=12.i . . 107 -107½ 108 -108 114 -117 . ... _ ... . ..•• - •··· .... - ... . ... . - ... . t;9¼-lOO - ... . .... - ....... - ... . .... - . . .... . . - . . .. . ... Ottum. C. F. & St. P.~ ... - ........ - . .... ... - . . . Chic. R.I.&P.-Coup .. 6126 -1~ 126 -127 126 -127 i269:!-127¼ i26¼- 127½ 126 -12'7n 128¼-124 124 -126 124¾-126 125 -126 125 -126¼ 125½ 128¾ - .... . .•. _ . . .... 124_¾-124.J>;i .... ........ ........ . .. . Registered . .. . ... . ... .. 6 . . . . - .... 126¼-126¼ 125½-126¼ Hfl¼- 127 .... - .... 126½-127 Keok'k&Desitl.-lst,o .... - .... 104 -107 105 -107 102 -1087~ 102 -102¾ 96 -102 102 -105 102 -105 105 -103 •... - .... 103 -103 . . .. _ ... - ........ - . . . . - ..... . • . - •.•. Ci5 - 00 90 - 91½ 92 - 92¼ .... - . . . . 85 - 85 Chic.St.L.&Pitts-l8t.o Su¼- 92¾ 90 - 91¾ 92 - 94 C.St.P.lll.&O.-Cons ... 6 107%-U~ 109¼-111¾ lll½-118¾ 112¾-118¾ 109 -118¾ 100½-lll 108 -111¼ 110\g-112¼ 110 -112 111 ·112 111 -112½ 109½-111¼ Chic.St.P.&M.-bt .. 6 116 -116¼ 118 -118¼ 119 -120 110 -120 115 -118¼ 118 -115 118 -116 116 -117" 118 -118 117 -118 115¼-115¾ 116!,i-ll~s St. P. & S. City-l8t .. 6 115½-116¼ 116¼-118 118¼-120 116 -117½ 114 -117 114 -117 114½-116¾ 117 -118 117¼-119 l15¼··116 115½-116 116¼-ll6¼ . ..... - ... .. .. - ... . .... - •......• - .... :..oo - 101¾ Ch.& \.V .Ind.-Gen.m. 6 104¼-104¼ .... - ........ - . .. . .... - .... 108 -103 .... - . ....... . ....... - . .. .. . .. - ........ - ........ - ........ - ... . .... - . .. . 110 -112 Cin .& Spr .--Guar .1st . 7 110 -112 .... - ... . 116 -116 116 -118 . . . . - .. Cl. C. C.& 1.-lst, s.td.1119¾-119:Jt 121!,4-1~8 128 - 124 123¾-125 118 -ll'.0 120 -120 117 -117 .... - .... 122 -124 124½-124¼ 121 -121 Consol ............ . ..... .. 1 118½-118¼ 118%-121¼( 121 -128¾ ...• - ... ll8%-120 .... - . . .. 115 -115 115¼-117 .... - .. . . 120 -HO . .. - ... . .. •. _ -102 102 lOl¼-i01¼ . ... ... . . . . . . . •. .. .... -108 108 .... ... . 106½.106½ . ... 109¼-110 beneral COD8 . . . . • . . . 6 ... . - ........ - . . . . . .. . 55 - 69 58 - ~ ... - . . . 59 - 59 67 - 60 5v - 60 64¾·· 68¼ 54 - 61 Col. Coal & 1.- lst,con.6 69 - 71% 67 - 70¾ 70 - 75¼ 69½- 76 65 - 67¼ 67 - 67 70 - 70 . . . . - .... 66½- 68 ..•• - • • •. 60 - 60 Col.H.Val.& T.-tst ... ~ 711 - 79¼ 79 - 81¾ 79½- 80½ 79 - 80¼ 77 - 79 t.:nmberl'd & Pa.-lst.6 .... - ... .. .. . - .... 103 -108 .... - ... . .... - ....... - .... . ... - .. . ..... - ... . .... - .... •··· - •··· •·· - •··· . .•. - ••• Del.&Hnd.C.-lst,'84.1' 100¼-101¼ 102 -102¾ !02 -102¾ 102¾-10-~ 102~-102¾ lOS¾-108¾ .. . - .. .. . ... - •....... - .... ··· · - • · ·· •··· - ···· .•.. - .. . 'fs, 1891 ................. 1' 110 -112½ 112¼-llll 115 -115 114 - ~15½ 114 -115 115¾-117 112 -116 114¾-115½ 114½-115 114 -115 115 -116 . ... _ .. . Extension, 1891 ...... 7 .... - .. .. ll2¼-ll::.-x, .. . . - ........ _ . .. .. .. . - .. . . . ... - .. . ~ ..•. - ........ - .. . ..... - ........ - ... . .... - ... . 112¼- 113¾ Coupon, 1894 .......... 7 116 -117 l 18¼-119½ no -119¾ 117½-117½ . .. . - . . . . 114 -115 115 -116 llt\½-117½ 116 -116 118¼-114¼ 115¾-115¾ 116 - l16 117¼-l17½ . ....... - •.. . •.. Reii .• 1894 ............. 7 118 -118 118½-119 ... . - ... . 117¼-117½ ... . - .. . . 1:5 -115 ..•. - .... 118 -118 .. .. Penna. Div.-Coup .. .. , .... - . . .. i29¼-182½ 18() -180 181 -181% . ... _ . . . . . ... - ... 125¼-lS::I 180¼-180¼ 12.q½-126 180 -130 180 -180¾ 180½-182 .. . . _ . . . -180 180 . ... ..•..... ·· ....... . .••. ..•. .. . ... _ .... 181½-1~1¼ . .. . ... -131 Penna. Div.-.ltea- .... 7 .... - .... 180 -180 181 Alb. & Susq.-bt m . · 7 110¾-ll l 110¼-110¾ 111 -111¾ 112 -112¼ 111%-111¾ l ll½-111½ .... - .... 110 -110 .... - . ..... . . - · ·• · .... - .. . · 111 -111 2d m01·t ..... ... . ....... ? 104½-104¼ . ... - . . . ..... - .... 108¾-103¼ 102 -108¼ 101 -101 108¾-104 104 -104 105 -105 102¼-102¾ .... - ... . 10~108¾ ts,, con.,arnar ..... 7' 122 -122 .... - .... 125 -125 127¼-12i¼ .... _ ........ _ . . . . ... - ....•..• - .. . ... - ... . .... - .... 125½-125½ . .. . _ .. . 117¼-117½! 114¾-115¾ 115½-115¼ 115¼-ll5!4 115¼-116 115½-116 115 -115 112 - 112¼ 112¾-112½ 112.~-112½ bt con. aruar .. • •• ••. . 6 .. . - . .. . ... . . .. 185 -185 184 -184 Ul2 -183½ .... _ . . . Rens. & Sar.-Conp . .1' .... - ...... . . - ...... . - . ...... _ .... . .. . _ ... . .... _ . ... .. .. - .... .... Del. Lac. & W.-Conv.1 . .. . - ... . .... - .... 117 -119¼ .... - . .. . . .. - .... 117 - 117 .... - ....•.. . - ... . ... . - . ... • •· • - ··· · • •·· - • •• • . .. . Con., 1907 ...... •· ·····" ... . - ... . 182 -182 181 -181¼ 130 -181 180 -!88 . . . . - . . . ..... - ... 128 -128 126¼-126½ 129 -129 180)(-180¼ 129¾- 182 Syr.B'n.&N.Y •• 1st .. 1' 127 -127 . ... - .... . .. - .... . ... _ ... . .... _ .. . .. .. . _ .... 120 - -:.20 . ... - . ...... - .. ..... - . . .. 128 -128 124 -124 Morris & Essex-1st. 1' 185 -187 139 -189 188½-1~ 1$8¾-140 188 -185 183 -188 185 -135 185 -185 185¼-187 1~ -188 .... - ... . 185½-185],,, 2d mort ........ ....... ? 115¾-U6¼ 113¼-1 , t 114 -11! 114 - 114¾ 114 -lHi 114 -115 . . . . - .... 110 -UO½ ...• - .... 112 -118½ 118 -114 114¼-l14½ '78, 187'1. .............. 7 120 -121 122¼-123 128½-125½ 123 -128 l28 -128 128 -12.'3 .... - ........ - ....... - ....••. - ... . 120 -120 . ... - . . . Consol •• a-uar . •• •· •• .. ? 124 -124% 124½-128 128 -128½ 128¼-12S½ 125¼-127 120 -123 121 -121½ 121 -122¾ 121 -122½ 122¼-124½ 125 -126 121 -124 6 117¼-118¼ 119 -120¼ ll\f¼-120¼ 120 -128~ US¼-120 115 - 118xi 112 -115 1117 -118 118 -119½ 117 -119 117¼-llO 119 - 120 N. Y • L. & W .-1st oo -100 97 _ 08 96¾- 97 98 - 00 95 - 96 95 - 95¼ 95 - 08 97 - 97¾ Construction . ... ... . a .... - .. .. .... - .... 119¼-101½ 99}{-100 84¼ 80 74½- e2 92¼- 06¾ 70½- OJ 112½- 97 85 _ 97½ 85 - 99 92¼- 98 Denver & Rio G.-l8t.1' 108 -109 108>{-llll 110 -112 102 -111 40 - 48 46 - 5H½ 45½- 50)4 41 -. 47½ 42 - 46 42 - 51 88 _ 5:-; 50 - 64 82 - 85¼ 60 - 84 84 - 88 Consolidated.•···... .1' 82 - 89 86¾- 88¾ 88 - 84½ 82½- 36¼ 83 - 87 80 84 28¼- 88 25 - 88 6:l - 71.½ 6l - 68¼ 48~- 68¼ 87 - 50 Deuv. Rio G.W .-1st .. 6 66½- 72 80 .• 80¼ 82 - 82 85 - 85 70½- 80 78 - 80 7-t - 76 75 - 75 90 - 02 97 - 98½ 04¼ 98 92 - 95 Denv. 80. P. & P.-lst.7 95½- 96 . - .. . .... . .. •.. . .... .... 55 f.5 60 60 . . . . .. . . . Det. M. & lllarq.-lst .. 6 . . - ........ - .. .. . .. - ...... . . _ ... . .. .. _ . . . . ... Dubuque & Dak.-lst 6 ... . - .... 98 - 98,9 ..• - ........ _ .. .. . .. . _ . ... . . . _ ... . .... - . ... ..•• - ........ - ...•... - ... .. . . • - .... . •.. - . . . E, Tenn. V.& G.-lst .. 1' 117 -117 117¼-117½; 1!8 -118 .... - . . . 116 -Ill.I 115 -115 113 -113 llS½-115¼ 116 - 116 .... - . . . . .. . - ....... . - .. . 42¼- 54% 55 - 59¼ 50 - 57¼ 50¼- 55 Consol.. .. . .. .... . ...... .a 70 - 72¼ 72 - 74 78¾- 75½ 74¼- 75>( 58 - 7S¼ 50 - 58½ 52½- 59¼ 57¼- 6l ·· · - ··· · .•• - ··· · · · · · - · ·· 01 - 05 · · · · - ·· · · ··· · - ···· ···· = · Oi¾- 04¾ •... - .... 100 -100½ 99 - 09 Divisional. .......... a 98 - 94 9 - 15 14.x, 2 1 11 1 16 8 15 19)4 17 18 15 10¼- 17,-. Income • •· ••. •··. •·· .... .6 26 - 81½ 29 - lH¾ 29 - 80¼ 25 - 2i3¼ 14 - 28 . .. Eliz. City& Norf.-lst.6 . .. . - ........ - . . . 78 - 80 ...• - ...... . . - . .. ..... - ... .. ... - . .. .. . .. - . . . . . .. - ... ... .. - .. . . . .. . - . . . . . . . . 82¼- 84¾ 80 - 85 80 - 82 91 - 91½ 87 - ~ 80 - 89 85 - 91 Eliz. Lex. & Big. S . ... 6 101 -10.qx; 108 -104¼ 101¼-108 100 -101¼ 90 -100 . .. Erie-1st, Extended .... ? ... - ... 128 -123 126¼-126½ 126¾-126¾ 122 -1~2 121 - 122 . . .. - .. . . .... - .... 125 - 125 ..... - ... . 125 -125 ... . . .. - .... 110 - 110 111 -111½ 110 -111 . ... - ... . 106 - 106 106 -107½ 105¼-108 2d, Ext .... . ... .. . ...... ~ .... -· . . ...... - .... 108 -108½ 110 -110 -102 102 .... ... 100½-102¾ -102 102 -103½ 102 101¾-102 103½-104¼ -103 lCS 3d Ext.·· · · · ·· · · · . · . . 4¼ l02 -102 104¾-104¼ 102)(-102½ 102¼-lv4 4th, Ext . . . . . ............ ~ 108 -10~½ 110 -110 llO .-110 lt0½- 110¼ 106¼-106½ 108 -108 106 -107 107 -107¾ . ..• - ........ - .. ...... - . ... 104 -1053,( Gtb, 1888 · · ·· · · · · · .... '7 .... - . . . ... - .•. . .... - . .•. 110 -110 108¼-108¼ .... - .... 106 -106 ...• - ... . .. . . - . . . . ... . - . . . . • .• - ... . 106 - 106 1st, consol., gold .. .... 1 126}9-128¼ 128 -181 128 -129½ 1:25 -128% 120 -126¾ 112 -122 113¾-119 119~9-122½ 116 -llll½ 115 -116½ 103 -115 ll7½-ll9~ • •·· - . •·. 115 -11~ 1st consol. fd. coup ... 1' 126 -126 125¼-127 126 -128¼ 124 -126½ .... _ .... 118 -113 118½-118½ .... - ........ - . . .... • • l15 -115 111 -11 t ... , - . . . . . . . - .. . - . ... 110 -110 . .. . _ ... . l!O -115 118¾-115 .... - . . ..... . Lona- Dock ... .. ......... 7 116¼-116½ .... - .... 180 -180 . ... - .... 181 -131 181¾-184¼ . ... - .. . Buff. N. Y. &E.-lst.1182 -182 ... . - ..... . .. - . . .. 184 - 184 .... _ . ... . . .. _ i20 =125 107½-107!,i_; 118½-:20 .... - ...  iis¼=122· .::: = :::: 104!)4-104¾ 105¾-105¾ .... - •... 120 -120 . .. - ... .. ... - ... .  :::: = :::: 106¼--107 118 -118 ... . - . .. .  i22 =122½ 106¼-107¾ - . . .. .. ···· - ···  ···1·  I  N. Y. L. E. & W.58¼- 6S 46½- 63 New. 2d consol. . ... . 6 87½- 98)1 91¾- 94¾ 87¼- 94 81¼- 89¾ 54¼- 86 45½- 60 Income .. . . .......... . 6 . . . - . . . 70 - 70 . . . . - . . . . . . . _ . . . . . . . . _ . . . . . . . . _ . . . . . . . . - . . . . . . . . - . . . . -105 105 . ... ....... . _ ........ _ ..... . .. _ , ....... ...... . . ....... . Erie&Pittsb.-Consol.1' 95 - 97 92 - 95 96 _ 08 95 _ 98 Ev. & T. Haute-Con .. 6 04 - 98 04 - 98 98 -100 07½-100 .Flint & P. M.-lllort ... 6 113 -llSxj 118¼-118½ 114 -114 112!!:(-118 112¼-112¼ .... _ .... 11;.\ -118 118½- 115 60 - 64¼ 45 _ 65½ 54 - 60 68 _ 70 65 _ 71 Fr.W.&Dfmv.C.-lst .6 65 - 69)4 66 - 69 66¾- 71 Gal. H - & SauA.-bt .. ti 108½-110 107 -HO .... - .... 109 -109 105!,s-101! 106½-106½ 106 -106¾ 106 - 101 2d, mort .... . ........... . ,- ... - . ... 10&}.(-109 110¼-110¼ 110¾-111 no -110 .... _ ... .. ... - . . ..... . - . .. . ... _ .. . .... - . ... .. 1:13 - 04:>t .... - ........ _ .... 02 _ 02 Ol½- 02 .:i .... Mex & Pac.-lst so - 80 Gr.B. W.&St. P. -lst .. 6 .... - .... 80 • 82¾ 82 - 87 85 _ 86¼ 86 _ 86 .... _ . .. . 82 - 82 . . . . 16 - 13 1 18 - 23J.4 20¼- 20½ . . . . _ . . . . . . . _ . . . . 18 - 18 15 - 15 2d, income ... .... ... .. . 8 . . . 110¼-111 -100 GultCol.&S.F.-lst .. 1'112~-115 llS -115 115 -115¾115 -115¾112 -ll4½lllh;-ll 4 107 ~;~~J~:~on:.:: :: iia~. Oonsol . .. ·-- .. . . .  ios  =10~ 103¼=104. i02¼=103¾ ;02¾-103½ 1~:¼=1~~½ 110 -118 112%-118¾ 112 -114½ llO -lt4 118 -118¼ Do•s..&~W.Tex.-:..st'f . ... - . ....... - ........ - .... 100 -108¼ .... - .......• - . . . . . . . - . . . . Beu•&T,C.-lst,Itt.L.7 10'7½-108~!108¼-110 109¼-W 111 -112 101 · 112 107~-110¼ 108½-106 lat, Western Div ... ... 'f 104%-105~,106 -107 l<mf-108 109 ~llO¾i1093'-109¼ 105 -105 102 -102   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  105 =100¾ ioo~=107 ..  ti 110¾-112;( 112 -118  51½- 68 ... . - . .• .... - . . .. 97 - 97 .. . . - .... 60 - 62 . .. . 107½-107¼ .. .. - . . .. 80 - 80 15 - 16 100 - llO  ;o·{  155 48 - 59 50¼- 58 . . . . - . . . . .. . - . . . . . . . . . ... - ... .. . .. - . . ..... . 97 96 - 117 96¾- 97 113 -118 118 -114 114 61 6'½ 61 60 - 62 105¾-106½ 106~-106½ ... 107 -107 . .. . - .. 101 92 . . .. 92 - 92 . .. . ... - . . . . 74 - 74 .... •• •• - •· •· • ••• - •• •• •• • 109 - 110 110-111 1111  ~ - ..• - .. , - 100 -115 - 67 . .. -102J.4 - 02 - . .. - ••• -118~  =101¾ 101%-102¾ i~¾~l03¼ iOS /4=103¼ l:~~l~ I¼ llS¼-118¾ 112,(-118 110¼-118.½ lll½-ll2 113 -115 · · · - · · · · 1· · · · - · · · . .• - . ..... . - • •.. 105,i-107 106¼-107 107 -108 100 -110¼.109-½110~ 103 -104 1QS½-104½i 104 -104~ 108¾-lO~r~,rlOO  62  RAILROAD BONDS. 1884-Contisued.  --------------------,----------,--- BONDS.  0  3ANUARY FEBR RY. _MARCH.  ~- &·r.c.- w.'&N.Div.; ~~~·-High Low. High Low.High  AP~~_":_  · 3UNE...:_  3ULY• .  --  ~ ~ Ocro•!!_ , NOV'BER., D•c'B~  ~~~--H:~.~ ~l:-71~: ~~~·-H~~~ ~~~--f[~~~ ~~~--I :~.~  ~o:w·_:::h  ~~~-~~~~-  :.~~-~i-~~- 1: ;·  :~:h  2d, Main Line ......... 8 123,¾-124 125 -125 126 -126 121 -121½ . ..• - ........ - .... . ... - ... . 122½-123 115 -118 .... - .... ill -113 111 -111 Gen. M01·t .............. 6 96 - 98 96½- 98 00 - 99 97 - 97 063i- 96~ .. .. . . . . .. . . - • .. . 96½- 96½ 96 - 96¼ Illinois CentralC. St. L.& N.O., T. L .. 7 .... lUl -119 120½;-120¾ .. .. 1st, con ......... . ...... 7 120 -120 120 -122 120¾-122 12L -122¾ .... - .... 119 -120 119½-119}1§ 120¼;-12074 120¼-121 117¼•120 120 -122 2d M ...... .... ....... .. 6 . ... - .... 115)4-115¼: . .. - .... . . .. Gold.... . ........ ... :i 105¼-107 105 -108 107¾-108>( 1077,/4-108)4 108 -108¾ 107 -107 104¾-105¼ 105 -105¾ 105¼-106 105¼-106 105 -106¼ 104 -106¾ Dubuq.& S.City2d .. 7 115 -115 - .... l15 -115)11 .... Cedar F. & M., 1st ... '7 113 -113 114 -116½ 116 -121½ 120!,(i-120½ 118 -118 - .... 114 -114 .... ll4 -116 116¾-118 Ind.Bl.& w.-1sr, pref.?' ... . - .... 118 -118 - ....... -1st .................. 4, :i, 6 85 - 86!i 84¼- !?6 85¼- 87 81 - 85½ 78 - 84½ 77 - 80 70 - 80 75 - 80 - . .. . 61J - 69 70 - 72 · 74 - 76 2d ........ ....... .. 4, :i, 6 69 - 70 69 - 72 70¾- 72 65 - 61J . ... 50 - 50½ so - 60 55 - 59 57½- 59 55 - 55 Eastern Div .... . ...... . 6 .. .. 89 - 89 89 - 90 88¾- 89¼ 85 - 86 80 - 80 7d - 80 79 - 80 75 - 75 75 - 75 80 - 80 78~- 80 Con. inco1ne ...... .... . 6 .... 33 - 33 .... - ...... .. - .... 10 - 10 ind. Dec. & Sp.-lst .... 1 105½-105¾ 105 -109~4 107¼-108¾ 105 -106 102 -105 lOl½-101,½ 96 -101½ 102 - 104,C 102 -102 99½-100 99 -10~ 102 -104¼ 2,1, 1911 .... .. . ....... .. :\ ... - ........ - .... 20 - 20 .... .... - .. .. 12 - 12 - .... 20 - 2'.c. 2d income . ...... . ..... ... .. Intern. & Gt. No.-lst.6 . ... - .... 109:),(-110 114 -118½ 115 -118 107½-112 104½-108 108 -108 108 -110 110\(-111 110 - 110 106 -lOi 106 -107 Coupon, 1909 . ........ ,6 81 - 84 83)4- 84¾ 82 - 87 84 - 87,¼i 72 - 54½ 70 - 79 70 - 75 77¼- 80 77 - 80 77-¾- 79 .... - .... 74½- 7{S - . .. 101¾-101¾ 102 -1· 2 - . ... 100 -100 100 -100 Jeff'erson-lst ........... 7 ... - .. .. 72¾- 72¾ .... Kentucky Central. ... . 6 .... - ........ ..... .. 80 85 80 80 83 - 83¼ 93¼- 95½ .. .. - .. . . 7:S - 80 - 86½ - 81 84 ·95 Lake Erie & W.-lst .. 6 92 - 93¼ 91½- 94 93 - 04 80 - 83 - .... 21 - 25 22 - 22 Income .................. 7 81 - 31½ 35 - 35 35 - 35 33 - 38 20 - 21¼ 10 - 18 .... 80 - 80 79 - 80 Sandusky Div .......... 6 .... Inco1ne.. .... .. .. .. ... .. . - .... 20 - 25 .... Lat. Bl. & M.-lst .... ti 1¥.>¼- 90½ 92 - 94:J,t 93½- 94½ 95 - 96 91¾- 92 .... - .. . 75 - ~0 81¾- 83 84¾- 85 82¼- 64 SO - 80 .. .. Income . .. . . 7 45 - 45 Lake Shore & M. So.M. S. & N. I. Skg. f<\ .. '7 104¼ -105 104½-105)4105 -106 105¼-105¾ 101¼-102¾ 102 -104 102¾-103½ 103 -103 103½-10$¼ 103¾-104~ 101 -101¾ 101¾-102 Clev.& Tol.-S. fund . '7 104 - 104¼ ... - .... 104 -104)~ 105 -105 105¼-105½ 104¾-104¾ 101 -102½ 102¾-102½ 102¼.:.wi;· [103 -103½ 103½-104½ 104 -104¾ New.... .. .......... '7 106%-106¾ 107 -107½ 107½-107½ :!.O-l¾-104¾ 105 -105 .... - ....... - .... 103!1i-103¼ 104 -104>(( Cl. Pains.&Ash ... .. ., - . ... 115· -115 . ... - .... 115 -115 115½-115¼ Buff'. & Erie-New .... 7 121 -121% .... - . ... 118 -118 117 - 117 - .... 117 .-117 .... - .... 118 -120 Kai. & W. P.-lst .... 7 . ... - :: ...... - .... 110 -110 L. Shore-Dividend .. '7 122½-123½ 124¼-125 124¼-125 - . . .. 120 -120 120 -120 - . ... 118¾'-118¼ 119 -119 120 -120 1st con., coup ........ '7 125 -127~ .... - .... 127¼-127½ 121;½-180 127½ 128 128~.i-128¾ 121½-123 124 -126 126 -126 126 -126 125 -127½ 127¼-128¼ 1st con., 1·e1r ...... . ... '7 124¼-125 128 -128 127 - 127 129½- lSO 127 -12fl½ 124 -1.17 122ll:(-123 124½-124¾ 124 -124 122 -124½ 121:),(-125 124 -127 2d con., coup ........ .'7 119 -110¾ 1199(-121¾ 121\1(-124 123¼-123¾ 120 -123¼ 116!,,!-llll 117 -119¾ 117 -118 117 -lli,, 116 -118 117¾-llt:!½ 114¼-116 2d con., 1•eg ......... . '7 lllJx(-119¾ 120 -1:.ll½ 1:.l ~¾-123¼ 123¼- 123½ 123¼-!23¼ 116 -119 116½-ll8 ll8 -118 116¼-117¼ 117. -118 117¾ -118 114½ -115¼ Long Island-lst ........ '7 120 -120 .... - .... 121 -121 124 -124 120 -120 . ... - .. . 118 -118 120 -120 120¼-121 121 -125 .... - .... 118 -119 1st, consol. .. .. .... ... 5 9$¾-100 101 -101½ 101 -102 101 -102 102 -102 101 -102¼ 100 -100 100 -101½ 100 -101 100¾-101 101¼-101½ .... Louisv.&N.-Consol. .. 7 118 -119 118½-E9½ 119 -120 116 - llS 116 -117½ 115½-116 113 -116 114½-ll •½ 115 -116¼ 112 -113½ 113 -113½ 114 -115½ Cecilian Branch ...... '7 103 -105 - .... 102~- 102½ .... - .... 91 - 93 901(- 93 N. O. Mob. & T.-lst.6 92 - 92 90 - 95 95 - 99 95 - 99 - .... 75 - 75 73 - 80 80 - 80 80 - 80 80 - 62 79¼- 79¾ 78 - 79~ 2d ............. . ...... . .. 6 . .. . - . . . 85 - 85 .. .. - • • .. 97 - 97 . .. . E. H. & Nn.sh.-lst ... 6 102 -108 .. .. - ........ - .... 103 -104 96 - 97¾ 98 - IJ8 97 - 97 Gen') mort ... ........ ... 6 91¾- 94 92 - 93¾ 92 - 96¼ 95¼- 96½ 85 - 95¼ 70 - 88¼ 75 - 90 88 · 88 86 - 87 86 - 89 blJ - 90 82½- 88 St. Louis Div.-lst . .. 6 .... - .... 107¼-107½ 104 -104 .... 95 - 95 2d . ........ ......... ..... 3 5!> - 50 .. . - .. .. 49¾- 49¾ .... 42 - 42 Nash. & Decatur...... '7 115 -115 i.16½-116½ .... - .... 117 -117 - .... 112 -112 - .•• 112 -113 115 -115 - .... 117 -117 Trust bonds ............ 6 .... - . . . . 89 - 89¾ 81 - 89 82 - 82 76½- 80 79 - 80 77¼- 79 76 - 79 78¼- 79 76 - 79 Ill - 92 89 2- 92 Lou. N.Alb.&C.-lst.6 90 - 95 90 - 94¾ 91 - 94 97 - 9$¼ 98 - 98 95 - 95 94 - 94 - .... 90 - 94 92 - 92 I,.ouisv . N.O.&T.-ht.~ .. .. 86 - 87¾ - .... 77-77 .... Ma.11.B.Imp. Co.-Lim.'7 .... - .... 77 - 80 80 - 80 80 - 8 80 - 80 Mcm.&Cllas.-lst T.L '7 110¼--110¼ . . . - .... 111¼-112 .... 2d, 18S:i . . . .. ........ 7 .... - ... ..... - ... 103 -103 .... Meu•opolitan El.-lst .. 6 100½-104¼ 1041,.i-107¼ 105 -107½ 105½-108¼ 100 -105½ 100 -105¾ 98 -103¼ 1037(-105¾ 104 -106 104½-108 107¼-108 108 -110¾ 2d . ................ ....... . 6 87½- 91 ½ 91 - 96¼ IJ5½- 99¼ 95 - 99}1; 88 - .93 84 - 93 89 - 90 90~- 93 92½- 93½ 93!1,(- 97 94 - 95¼ 92¼- 95 Mex. Cent.-lst .... ..... 7 41'%- 56¼ 57½- 57½ 63 - 63¾ 55¾- 61¾ 43 - 55 33¾- 35 35 - 35 .. . - .. .. .. .. - . . . 82 - 32 .. . . - . .. . .. .. - ... . Mich. Cent-lst,consol.7 12-l -125 125!,4-12'3 t27 -129¼ 128!-,i-129 122¼-124½ 123%-124 123¾-125 125 -126 125 -126 125¾-127¼ 122¼-124 122¼-123 1st, con11ol . . ..... . . :; 106 -106¼ .... - ... . 106 -106 .... - ... 102 - !03 105 -106 102 - 102¾ 102½-103½ 103¾-lOi 103½-104 101¼-10~ 102¾-104 Coupon, 1931 .......... :i 101¾- 102½ .... - .... 102 -102 101 -102¼ 102 -102 . ... - ... . 100½-100½ 100 -100 100 -100 97 - 97 Rea-., 1931 .............. :i 101¾-101¼ .... - .... le() -100¾ .... . - ........ - ........ - .... .... - ........ - ........ - .. .. Mhl. of N.J.-lst ........ 6 91½ 95 93 - 95¾ 94½-100¾ 96 -100 89 - 96 80 - 87 80 - 84 !?3¼- 88½ 87½- 89 84½- 85½ 79¾- 85 78 - 827A MU. L. Sh. & W.-lst .. 6 99¾-100 100 -103 103 -106 106 -109 101 -105 100 -100 99½-100 99%-101 99½-100¼ !.00 -102 98¼-100¾ 99¾-100>11 Income ... ............. .. 6 .... - .... 78 - 7d 83 - 84¼ 77 - 81,,; ... Mil. & No.-lst ..... .. .. 6 97½- 97% 9';'½-100 98½- 99 98 - 98½ .... - .. . 85 - 94 95 - 95 .... - .. .. 85 - 85 Minneup.& St.L.-lst. '7 120½-122¼ 122½-122½ 125 -127¾ - .... 125 -125 115 -122½ .. .. - .. . 117 -118 .... - .... 118½-120 116;.; -116¾ Iowa Extension ...... '7 118¾-119¾ 120' -120 119¼-120 120 -121 123½-123½ .... - .... 108 -108 108½-108½ 112 -112 110 -110 2d, 1S91...... . ........ 7 100 -100 100,¼-101 101 -101 .... - .... 100 -100 100 -!00¼ .. .. - .... 102 - 102 102 -102 So. West.Ext.-1910.? .... - ...... .. - .... 112 -112½ ... - ........ - .... 113 -113 Pacific Ext ........ . ..... 6 .... - .. .. 102 -102 103¼-103¼ .... - .... 100¼- 100¼ . ___ - . ... 102 -102 - ........ Mo.K.&T.-Gen. con .. 6 76 - 84½ 80%- 82¼ 8l!,,- 83½ 75½- 83";,4 70 - 79 50 - 71½ 58 - 'il¾ 70:}.!- 7d 72¾- 75 71¼- 75½ 65 - 75 65½- 74 Gen. con sol.. ........... :; .. .. - . .. . 66 - 70 ti$¾- 71½ 66 - 70½ 60 - 65½ 45½- 62 50 - 59¼ 59½- 63½ 59 - 61 58 - 60½ 50¼- 58½ 53 • 58 Consol. ... .. ..... ........ ? 108!,iHlO¼ 107 -109 108½-109¾ 107 -110¼ 104 -107½ 87 -104¾ 93:),(-105 ½ 102 -104½ 103 -105 101½-105 98¾-104 104!,4-105¾ 2d, income ........... .. .6 62 - 68 66 - 70¾ 69¾- 70¾ .... - ... , 00 - 60 - ... . 51 - 56 62 - 62 . ... - ........ - ........ - .... 54¼- 60 Han.&Cen.Mo.-lst.7 .... - .... - .. . . 108 -108 . ... - .... 103 -103½ .... - ... 106 -106 - ........ 105½-105¼ Mobile & Ohio-New .. 6 104¾-106 104¼-106¾ 107 -108½ 108 -108% 108 -108½ 104 -106 104¼-105¼ 105¾-105¾ 104½-104¾ l<J37A-10o 102 -l0i 100 -100¼ Collate1•al trust .... .. 6 .... · 91J½- 99½ 95 - 95 65 - 65 65 - 65 1st, pref., debenture .. '7 .. . . - .. . . 56 - 57 59 - 60 69 - 70 69 - 69 .. .. 60 - 65 61> - 65 .. :. - ... 55 - 55 - .... 30-80 2d, p1•et., debenture .. '7 2~ - 28 .... - .... 84 - 40 36 - 40 30 - 80 .... 3d, pret .• debenture.'7 ... 30 - 30 4th,pt•et.,debenture.'7 .... - .... 20 - 22 25 - 29 .Mutual Union T--S.F .6 73 - 82 78¾- 80½ 78¾- 81¼ 76 - 80 60 - 73 60 - !!6 60½- 67~ 67¾- 74 71 - 73½ 71¾- 74 66¾- 68 66½- 70½ Nasbv.C.& St.L.-tst. '7 llli½-117 t17½-118 118½-118½ 121 -122 120 -120 120 -120 113 -117 116½-116¾ 114½-118 116 -117¼ U6 -116½ 118 -120¾ 2d, 1901 .... .......... .. 6 .. . . - .. .. .. .. - .... 102½-102½ . .. . N.J.So.-Int. guar .... 6 .... - . ....... - . ....... - .... 02 - 92 N. O. Pacific-1st ....... . 6 81½- 86¼ 83 - 85½ 84 - 86¾ 82½- 84½ 69¼- 80 48 - 69 50 - 57¼ 58½- 58½ 50 - 5-l 50 - 50 53 - 58 59 - 5!l N. V. ('entral-Extend. :i 103¼-104¾ 1.041,(-107 107 -107¾ 107 -107½ 104 -105 101 -104½ 102 -105 104 -105 104 -10-il! lOi¼-104¾ 101½-1031,! 102½·103?4 1SS'7 ................... .. 6 104½-105 105,½i-105¼ 105¾-105¾ 106 -106¾ .... - .... 106¾-106¾ 103¼-lOS¾ 105 -105 104 -10-! 104¾-104¾ 105 -105 N.Y. C.& H.-lst,cp .. '7 °130¼-132 131½-133 131J.1i-132 133 -134 131¼-133~ 180 -132½ 127 -131½ 130½-131½ 130¾-131½129 -130¾ 129¾-131 130¾-183 1st, t•eg ................ '7 130 -131 !-31 -131¾ 131 -131½ ld2 -134 131 -133 132 -132¼ 126),(- 1~0 12U¾- 130¾ 130 -180½ 129¾-130 129 -130}.{ 13l¼i-132¼ Debenture ......... .. :i .... - .. .. . .. . - • - .. .. . .. . - .... 102 - 102% Hud. Riv.-'.ld, s. fd .'7 .... - ... 104 -105 .... - . ... 104¾-105 104½-105½ 102 -102½ 102½-103¾ 103 -103½ 103 -103½ .... - .... 104¼-104½ 101½ 101¾ Can.So.-lst,guar .... :i 95¼- 96¾ 96 - 99½ 98%-101¾ 99;)(-101¾ 98 -101¾ 94¾-lOo 92 - 97½ 96 - 98 96 - 97½ 96 - 98 w.; - 99 9e - 00 2d .. .. . .. . . ~ . .. . - . .. . 83 - 80 113 - 88 86¾- 88~ 80 - 87 76 - 80 75 - 8~ 84 - 86½ 77½- 82¾ .. .. - .. .. 70 - 75 70 - 75 Hal'lem-lst, coup .... '7 1130½-130½ .... - .... !30 -133 134 -135 129½-180 127 -130 128 -128 129¾-130 129¾-129¾ lW -180 127 -127 127¼-128¾ lflt, t·ea- ...... ........ '7 128¼-130½ . ... - .... 1. . . . - . . . . . . . . - . . . . . . . . • . . . . 128½-128½ 129½-180 .... - .... 129:),(-129% 129½-180 126½- 129½ 120 -12\1 N. V.Ultic.&St.L.-lst .ti 100 -102 101½-105¾ 104 -106½ 106½-109 100 -107¾ 90 -100 l:J3 -100 IJ-4¾- 99½ 93 - IJ5 93 - 97½ 94 - 99 92 - u6?,4 2d.... .. .............. .. .. .. 6 86"- 87 87 - 91 87¾ -86½- 87½ 79 - 83½ . .. - .. . . 50!4- 50¼ ... . - . . .. 60 - 60 N. Y.City & No.-Gen'l.6 31 - 32 33 - 35 35 - 36 36¼- 36¾ 31¾· 35 81 - 35 32 • 32 30 - 30 31¼- 31½ 30 - SO 32 - 35 32¼- 34?,4 'l'rul!lt Co. receipts...... 35 - 35 82½- 34 31> - 8-5 35 - 35 82 - 36 . ... - .... 29 - 29 - .... 25¾- 32¼ 30 - 82¾ . ... - · N. Y. Elevated-ht ..... '7 116½-117¼ ll'ix,-118¾ ll~-110½ 120 -120½ 118 -120;,; 118 -119 115 -116 115 -ll'i½ lli -il8 117¼-118¼ 119 -120 119 -121   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  -  -  186¾I  RAILROAD . BON.DS.  63  -1884-Contlmied.  - - - - - - - - - - - : - - - - - - , . - - - - . , . - - - - - , - - - - - - - - -----,------,------'--.--------·=-,-----'-r-------JANUARY FEBR'RY.  MARCH.  APRIL,  MAY.  JUNE.  JULY.  AUGUST. SEPT'BBR. OCTOBER  NOV 1BER. DEC'BER  BONDS. Low. High Low. High Low.High Low. High Low.High Low. High Low.High Low.High Low.High Low.High Low.High Low.High  ---~-  N. y .& N .Eng.-lst ..... '1 98 -100 97½-101 101%-107 105¼-108½ 101 -107½ l00¾-108 97 -102 105½-106 104½-106½ 103½-104½ 103 -104 108 -104lst, 1901) .. . . . . . . . . 6 . .. . - . . . . 89%- 89% 90¼- 98 99 99½ . . .. - . . . . .. . . - . . .. .. .. - . . .. .. . . - . . .. . . . - • . . 8-0 - 90 . . - . . .. 93 - {I.:, N.Y.N.H.&H.-lst,rg.4 ... . - ........ - ........ - .... 106 -.06 .... = ........ = .. .. ... = .... .... = ....... - ....... - .. . ... - .... 108 -108 1 N.Y.Pa.&O.-Pr.lein.6107¼-108 .... .... - ........ - .. .. ... .. .. .... .... .... . ... 102 -102 .... - ....... - .. .. 1 st, i nco1ne .... . ..... .. . 1 - . . . . . . . . - . . . . 58 - 53 . . . . - .. . . . .. - . . . . . . . - . . • . .. . . - . . .. . . . . - . . . . . .. . - . .. . . . . . - . . . . . . . . _ .. . N.Y. Susq.&W.-lst ... 6 78 - 80½ 79 - 82¾ 81¾- 86 80¼- 86 'iO¼- 82 .... - . ... 77 - 77½174 - 77 75 - 75 72 - 74 .... - ... 60 - 60 N,V.&Tex.Land-Scrip 43 - 54 54 - 57¾ 55¼- 60 61 - 02_1,.:, ... . . ... - •....... - .. ...... - .... 65 - 65 .... - ....... - ........ - ... . N. Y.W.Sh,&B.-lst ... ~ 49%- 67½ 51¾- 5i 54½- 59¼ 50 - 56¾ 42¾- 56 87½- 45½ 38¾- 40¼ 39 - 45¾ 40½!- 44 40¾- 45 893,ii- 4,% 39¼- 42% 1st, reg ......... ...... ... ii . .. - . . . . 52½- 53¼ 54½- 56¼ 49½- 51½ 43 - 53¼ 87 - 41% 38 - 89 89 - 44 397~- 42½ 40 - 42¾ 39 - 40 39¾- 41¼ Not•f,& West.-Gen. M .ti 102 -104 102%-105 105 -108 !07¼-108½ 10! -104½ 101 -101½ .... - .... 100 -100 101 -102¾ .... - .. .. 90 - 04 .... - .. . New River-1st ... ... . 6 100 -100 lCO -100 102½-102½ 02 -102 .... - ........ - . . . . 03 - 95 .... - ........ - .... .. .. - ........ - . ... 94 - 94 No1•tbern, Cal.-lst .... 6 .. .. - . .. . .... - .... 106 -107 .. .. - ........ - ....... - ... . .... - .. .. .... - ........ - ........ - ... .... - ........ - ... . Obto Central-lst ....... 6 61 - !i5 62½- 69½ 68¾- 70 6:l - 69 63 - 63¾ 48 - 60 45 - 48¼ 54½- 60¼ 54 - 60 cO - 55 5-i - 55 54½- 60 1st, terminal t1·ust . .. . 6 .... - ..... ... - .. . . ... .... • - ........ - ... ..... - ........ - ........ - . .. . 50 - 50 . .. . - ........ - ... . Income ..... ......... .. 1 9½- 10¼ 10½- 14 13 - 13 7½- 9½ 6 - IJ 5 - 7½ 5 - 8 5 - 10 5 - 10 4½- tl 4½- 5¾ 4 - 5¾ Ohio & llliss. Con.s. t .. 7 116 -117¾ 117¾-118 117½-118 119½-120½ 117¾-120½ 114½-119 lll½-110 116 -117½ 116½-117½ .... - .... 117½-118 118¼-118¾ Consol. ................... 7 117¼-117¼ 117¾-lll:I 117½-!17½ 119 -120½ 118 - 120½ 114½-llS 117 -117 112 -117 117 -117½ 116½-118 118 -118 .. _ ... . 2d, consol. ........... 1 121 -121½ 121 -121 .... - .... 116 -126 ... . - .... l00½-111 101 -101 110¾-110¾ ... - . . . ... - .... 113 -115 .... _ ... . 1st, Spl'ingf. Div ...... 7 118 -118 118 -118½ 121 -180 180 -180¼ .... - ... . 108½-108% .... - ..... .. . - ........ - ....... - ... ..... - .... 100 -101~ Ohio :Southern-1st .... 6 80 - 81 80 - 84 82½- 86 811 - 90 72½- 86½ 73 - 81 76 - es 80 - 81½ 79 - 81¼ 80 - 80½ 81 - 85¾ 81 _ 82 2d, income .... .......... 6 20 - 25 .... - . . . . 20 - 23 ~2 - 24¾ 17½- 22¼ .... - .. . . 19 - 25 .... - . . . . 20 - 23 21½- 22¾ 21½- 23¾ 20½- 22½ Or. R'y. & Nav.-lst ... 6 102¼-105¼ 104¾-103 107½-108¾ 108¼-109 104 -108% 102¾-104¼ 101 · -105 105 -107 tOtl½-107 106¼-108½ 108½-110 109¾-110¾ Debentures, 18S4 .... , .... - ........ - .... .... - ........ - ........ - ........ - ... ..... - .... - ........ - ........ - .... HO -100 .... - ... . Oreg. Imp. Co.-lst . ... 6 66 - 82¼ 79%- 80 'i9 - 82 tl4 - 81 60 - 69 57 - 65 50 - 65 65½- 70 66 - 66¾ 60¼- 67 63 - 70 67 _ 69 Oregon Trans.-lst . .. 6 65 - 7Q¾ 68 - 72 · 69 - 74½ 70 - 74 69 - 76½ 69 - 72)4 63 - 70 71 - 'i5 70 - 72 63 - 70 67 - 68 66 _ 68 Pacific RailroadsCent. Pac.-Gold . . .•• .. 6 118¼-112 l!!½-113¾ 113%-11-1½ 113½-114¾ 111½-113¾ i07½-114 10:5 -110 ll0½-111¾ 110¾-112¼ 110¼-112 108¼-111 110¼-113 San Joaquin Br .... 6 108½-109¾ ll0½-111 111 -112 108½-108½ 106 -106 .... - .... 103 -105 103½-103¾ .... - .. . . . . • - ... ' Ol½-101½ 102¼-104 Cal. & Oregon ... ... .6 Wl -101 103¼-10~¼ 103½-103½ 103½-103¾ 100½-100~ 108 --103 101 -101 99 - 98 100 -100 .... - . . . . 95 - 99 09 -101 State aid ............. 7 100 -100 L00¼-100% 101¾-JOl¾ 101 -101 ...• - •.•..... - ........ - ........ - . ...... - ........ - .. . .... . - . ...... _ ... . Lall(} grants .......... 6 104.½i-104¾ 104¾-105½ 106 -lOi 103¾-104.½ 102 -104½ 95 -103 95¼-100 100 -101½ J00¾-101½ 98 • 99 99 - 00 100 -101½ Western Pac ......... 6 108 -109.½ 109¼-109½ ll0½-111 111 -111 .... - .... 101 -101 100 -102 104 -106 104½-10'.J 105 -105½ 104 -105 104½-110 No.Pac. - Gen.1st, l,g ti .95 -102% 98¼-102 100%-102 101 - 103¾ l.00½-105¾ 08 -105¼ 97 -103 10~½-104 102¾-108% 100 -104½ 101 -102% 102½-103½ Gen.1st, I. g., reg .. 6 I00½-102) 8 99¼-101½ .... - ... 101 -103¾ 100¾-102¼ .... - .... 102 -102 102 -10~ 102 -102½ 100½-103½ .... - ........ _ .... So. Pac. Cal-1st . .. .. 6 102~4-104 104 -106¼ 106¼-107¼ 103¾-104¼ !01 -104½ 04 -102½ 96½· 00% 100¼-101 98½-100 05½- 97 94¼- 05½ 94½- 96¼ So. Pac. Ariz'a-lst .6 .... - .. ...... - ........ - ........ - .... 98 - 98 .... - , ... .... - ........ - ........ - . .. . .... - ........ - ........ _ ... . So. Pac, N.lllex.-lst 6 ... . - ...... .. - ........ - ...... . . - ... . 97½- 9i½ .... - .... .. - ........ ·· ........ - ........ - ........ - .... _ lTnion Pac.-lst .. ... 6 113 -114¾ 113:)4-115½ 115 -116½ 118¾-116¾ 112 -114¾ 104 -ll4 108 -110 109 -111¼ 110 -112½ 110½-lll¼ 110½-112¾ -li4 .. Landgrants .......... 1108¾-109 109 -110½ 110½-112 106%-107% 106 -107.½ 101 -106½ 106%-108 107½-108 1077/4-110 105 -106¾ 10"½-106¾ 106½-106½ Sinking fund ......... 8 116½-118 117¾-llSx: 114 -115½ 110½-ll:½ 104 -112 95 -108 101 -100 108 -113 107¾-109 110½-114¼ 112 -117½ 117 -118¼ Registe1•ed .... ....... 8 1113½-117¾ .. .. - .... 114½-114½ 114¼-114.¼' . . . - .... 107 -107 98 - 08 108 -108 .... - .... .... - .... 113 -117½ 116)4-117¾ Collateral trust ... . ti 105 -105 .... - •....... - ........ - . . .. 1, 5 -105 .... - .. .. . . . .... - .. .. . .. . - . . . . ... - . . . . . .. . - .... 108 -103 Collateral t1·ust .... . i) .... - ........ - ........ - •... 96 - 96 95 - 95 ... - ........ - . .. 82 - 82 .... - ...... .. - ........ ...... _ . . . . K. Pac - 1st, 1S91) .6 lll½-111½ :07½-109½ 109¾-110¾ 11.0¼-110¾ .... - ... 10 1 - 103 104 -110 106 -106 106½-107 107:)4-108 108 -108 .... _ .. .. 1st, 1896 ........... fi 106½-lO'i"¾ 106¼-109 109:k;-110¼ 110¼-111 108½-110 99 -105½ 100 -103½ 106 -108 107 -107 106½-108 100 -107¾ 106 -108½ Dem·. Div.-Ass'd 6 1C2½-107 100½-109¾ 109¼-UO½ no -110½ 100 -107 93 -105¼ 95 -102 103 -105 105½-100¾ 107½-108¼ 103½-105 105 -107¼ l st, consol.. . . . .. 6 92½- 95¼ 03¾- 96¾ 96½- 98¾ 92 - 08 80 - 90 !l5 - 80 74 - 82½ 74½- 88 80¾- 88¼ 84 - 90½ 8tl - 05¾ 91 _ 95½ CB1·.U.P.,fund.cp .7 . .. . - .... .... .... .... - ........ - .. . . . . - ....... 100 -100 .. - .... - ........ - .. 99½-09½ At.Col.& Pac,-lst .6 i;o - \J3 03 - IJ8¼ 93½- 08½ 92 - 94 89 - 00 . .. - ........ - .. 81 - 81 . . . - .... 82X- 86 88½- 85 84 _ 84 At.J. c.& w.-1st.6 .... - .... co - 90 oo - oo 67½- 90 &5 - 86 .... - ....... . - . . . .. - ..... .. - ........ - ... 80 - 80 82 _ 82 Oreg.Sh.Line-lst .. 6 89¾- 94 rn - 95 04¾- 95¼ 85 - 95¼ 69 - 89 70 - 84 67 - 82 6:; - 79 75½- 82 78 - 87¼ 82 - 89 87 _ 89 Utah Soutb,- Gen .. 7 . ... - ... . 102 -102 104 -lOl 103 -103 .... - ........ - .. . . . ... .. .... .. - ... . 05 - ll5 .... - •... 05 - 98 98 _ 99 Ext'n, 1st, 1909 ... 7 06 - r-6 95 - 05½ 08 -100 . . .. - . . . . . . . . - .. . . 98 - 98 . . . . - . . . . . . . . - .. .. .. . - . . . . . . .. - . . . . 90 - 90 91 _ 93½ lllo. Pac,- lst cons . .. . 6 101½-102 l02¼-104½ 104½-106¼ 105 -106½ 9874-105 00½- 98½ 95 -100 93½- 97¼ 93¾- 95 90%- 94 89¾- 95 91 _ 97½ lllo. Pac.-3d . ...... .7 112,½-113 113½-116 115 -115¾ 115½-116¾ 111 -111 09½-102 95 -100 100 -103 100¼-102 102 -105 98½-100 100½-102¾ Pac. ot ll1o,-1st ..... ti 106¾-108 104¾-105¾ 105½-106 106 -106 104½-105x 108 -105¾ 108 -105½ 102½-103½ 108¼-108¾ 103:)s-104 104¾-105¾ 105¼-105¾ 2d ..................... 7 109½-110 110 - 111¾ 111 -112 112½-112½ 1~0 -110 108½-100¼ 104 -104 105 -106 106 -107 107 -107 .... - .... 108¾-llOJ.<i St.L.&S.F,-2d,"A".6 98 - 09 IJ8%- 9i> 108 -105½ 100 -106 100 -100 99 - 09 07½- 9i½ 9S½- 99 i/8½-100 101 -101 97 - 07 100 -100½ Class "C" ... ..... .... 6 05¾- 06½ 97 - 99 09½-104 104¾-105 95 -101¾ 89 - 97 00 - 92 94 - 98 08 -100¼ 89¼-100 9'1 - 99 08½- 99½ Class "B" . ......... .. 6 Ofl - 96¾ 96½- 90¼ 100 -104 104 -105½ 97 -1Q2 90 - 98 90 - 92 94 · 98 98 -100 99 - 102 07 - 09 08~-100 Equip1nent ....... ..... 7 ... . - . . . 100 -101 .... - . . . 106 -106 .... - ........ - • • . . .. .. . ....... - .. . . 98 -102 .... - .. .. . .. - . General mort .. .... .. 6 .... - . .. . .. - ... . ... - .... 1oou-:01 ...• - .... l:!7½- 97½ 91¾- 94½ . ... - . .. 91 - 05 94%- 94~ 92 - 04:k{ So.Pac,ofMo,-lst .. 6 103¼-104½ 104¼-105 105 -105.l,, 105 -105:)4104½-105½ 102 -103 98 > 102 102¾-104 lOS½-103½ 103 -108½ 103 -104½ ,1041,4-1051,,( Texas & Pac,-lst ... 6 - .. . 10872 -109 .... - .. • . 108 -108 .••• - ........ - ........ - ........ - ........ - ...... .. - .... 103 -lOa 103 -103 Consols .... .......... .6 89 - 91 90½- 00½ 00½- 91 92½- 92½ 91¼- 92½ 60 - 60 . . . . - .. .. .. - ........ - ... . ... - ........ - .. . . 75 - 75 Inc.& laud g1•., reg. 1 39 - 46½ 43 - 51 48¾- 54 44 - 53 38 - 47 32 - 45x. 84½- 50 8~ - 42¾ S2 - 40 34 - 36 35½- 38½ 37½- 38½ 1st, Rio Gr. Div .... 6 69½- 75 'il - 73 71¾- 75½ 64 - 73½ 50 - 67 37½- 59 40 - 51 47 - 55¼ 40 - 51¼ 44 - 50 44 - 5:1 52½- 54 As!trnted ..... ........ . .. . . . . . . - .. . . . . . . - . . . . . . . . - . . . . .. . . - . . . . .. . . - .. . . .. .. - .. . . 47!,2- 50 48 - 48 -'1½- 41½ 49¼- 50¼ 50½- 52 Pennsylvania RR.Pa. Co.- Conp ....... . 4½ 03%- l,4¾ 95 - 95¾ 05%- 96½ 96½- 97 96 - 97¼ 05 - ~7 94 - 95 95 - 95¼ 93 - 97 97¾- 93 97 - 98 07½- 99½ Uegi»te1·ed ... . ..... 4 J.I. 91¾- 95 95 - K¾ o:;911- 96¼ 95¼- 96½ .... - .. .. - . . .. 92~4- 93 ... - . . .. !l6 - 96 96 - 96 96 - 07 06½ · 98¾ Pitts,C.&St.L.lstcp 7 .... - .. .... . . - .... - ....... .. . - ....... - ...... . . - ........ - ....... . 117 -' 17 ... .... - . .. . Pitts.Ft. W.&C,-lst. 7 186½-137 18'3 -138½ 183½-138¾ 138¼-138¼ 140 -1-10 187½-139 13:i -136½ 186½-180½ 137 -137 138½-138½ 138 -ms 138¾-139 2d .. · · · ... . .. .. 1 .... - .... 135 -183 135¾-135¼ 136 -186 181 -181 185 -136 1Z4½-184½ 135 -135 ... - ........ - ........ - .. .. 136½-186½ 3d ....... ..... .. ... ...... 7 130 -181 .... - .... 183½-133½ 131 -132 181 -132 180½-131½ ... - .. . . ... - ........ - .... 125 - 125 ... . - ••• 128½-130 Clev.& P.-Cons.s.fd,7 123 -125 126 -127 127 -128 127 -128 1'24 -125 ... - .... . . - . .. 125 -123 124 -124½ 126 -127 124½-125 122 - 125 4tll ........ ..... ...... fi .. .. - ... . 110¾-110¼ 111 -111 110¾-110¾ .... - .... 100 -::.09 109 -110 - .. ... ... - .. . 110 -110 ... - . . ...... - .. .. St. L. v.& T. H,-lst.1 .... - .... 11.7½-lli½ .... - .... 110 -110 117½-117½ ... . - ...... . . - . .. 117 -117 l17 -117 . ... - .. .. 118 •118 118 -118 ~d, g11a1·., 1898 .... 7 ... . - .... .... - .... .. . - ........ - ... .. ... - .... 108 -108 .... - ....... - . ....... - ........ - . . ...... - ....... - ... . PeoriaDec.&Ev.-lst.6 95½- 97 100 -101 100 -105 104½-100 101 -103 100 - 100 04 - 95 Oi½- 97)-( 95¾- 95¼ 94¾- 06 00 - 06),{ 07 -100 Income ................. . 6 50 - 50 53 - 68 58 - 60 50 - Ol ' .. . . - . .. . 20 - 20 82 - 82¼ 33 - 40 .. .. - . . . . . . . . - .. .. . .. . - .. . . .. .. - ... . Evansv. Div ......... . . 6 100 -100 IOU -100 100 -102 108 -105 ... . - .. .... .. - . ... 05 - 95 9i - 97½ 04 - 94½; 04¾- 94¾ 05 - 95 94 - 97½ Evans. Div., income .. 6 ... . - .... 53 - 58 . . •. - .•• . - . .. . . • - ........ - •• • . . .• - .. . . 33 - 41 33 - 40 . . , . .. .. - ........ - .. .. Peoria& l'ek. Uu,-lst. 6 9:3 - 98 100 -!00 100 -103 104¾-104):! 108 -104 .. . - ........ - ........ - ...... .. - .... 100 -100 .... - .... 101 -101 Phil.& Read'g-Gen . . . 6 .... - ..... ... - ........ - .... ~Ol!,.(-101¼ .... - ... .. ... - . ...... . - ... ... . . - . ... · · .. .... - ... . .... - .. ...... - .. .. Hef,·rred inc... .. ........ 23½- 23½ .... - ..... ... - ........ - .. . ..... - ........ - ........ - •....... - .... . ... - ....... - . . . . .. . . - . .. . .. . - .. .. Pull. Pal.CarCo.-Deb. 7 101 -106¼ .... - .... 107 -107 102 -103 .... - ........ - . .. ... .. - ........ - ........ - ... . .... - ...... .. - ........ - ... · Richmond & All.-ht . 7 65 - 66 04 ·- 67½ 69 - 71 68 - 7J 51 - 70 co - 60 50 - 52 50 - 5! 50 - 51 50¼- 52½ 50¾- 50Jf 50¼- 52 Rich. & Dauv.·-Cons .. 6 93 - 94½ 04 - 96¼ 95¾- 99 {;8 -100 95 - 99 06½- 08 92½- 94 92½- 94 93 - 04 92 - 08½ 91 - 93¼ 98¼- 96½ Debenture.......... 6 59¼· 62 60¾- 62 6') - c2 5d - 00½ 40 - 59 40 - 50 45 - 50 55 - 60 50 - r:6 47 - C:4 ~o - 50 50 - 55 Roch. & Pittsb.~lst ... ti 107¼-WS 105 -109½ 110 -112¼ 112 -113.½ llO -110 107 -108 104 ··107 106 -lOo 108 -103 106 -:07J{ !00 -108 108 -108 Consol., 1st ........... . 6 91 - u2 92 - 96 04 - 93-;:.b 89¾- 94 88½- 90 73 - 80 7d - 80 85 - 88 .... - . . . . 85 - 87 89 - 00¾ 88½- 90 fncome .................. . 6 45½- 56 5u - 60 .... - .. ... ... _ .... , 40 - 45 . .. - ........ - .... 45 - 55 r,5 - 55 55 - rn 5:; - 55 .... - .. .. Rome\.\',&Og,-lst ... '1 .. .. - .... 100 - 109 .... _ ........ _ .... •. ... _ ........ _ ........ - ...... ., - ........ - .... .... - ... 109 -109 Con., 1st, ex •.... ..... . /'i 65½- 68 tl7 - 71¾ 70¾- 7i¼ 7e _ 75 04 - 71 G! -:- 70 64½- 69 68½- 70½ 68¾- rn¼ G7½- GS½ fl7 - 70½ 70 - 74 Income .. . ............. . .. 7 30 - 82½ :34;,ii- 88 36½- 42½ 34¾- 35 32½- 33½ 32 - 82 ... . - ... 27¾- 30 25 - 25 rn - 2) SO - 31 33 - 34 'St.L.Alt.& T.H.-lst . . ? 112)-i;-113½ 114 -115 117!-4-117)4118 -118 - ....... - . ....... .. - ........ - . . . 112 -112 •.•. - .• •• 2d, pref....... .. .... .... . 7 112 -lU 109 -110 1 ·o -112 113 -113 ll~ -112 100 -101 :06 -103 .... - .... 112 -112 ... - ....... - ..• 107½-103 ~d, iuc:ome ..........-: ... , .... - .... 108 -108 .... _ .... 105½-105).{ .... - .... 100 -JOO¾ Oli¾- {19¾ 101 -101 101 -102¼ 102½-103 . ,, ,. - .... 100½-100½ .Dividend bonds ... ... .6 55 - 55 53 - GR .. - • . • . 47½- 55 45 - 43 20 - 2Z> 21 - 80 ~o - 42 35 - f5 . .. . .. ...... - .... , . • • - .. .. Bell.&So . 111.-lst ... 8 117 -119 120 -120 ... - .... ... _ .... 115 -115 .... - ........ - ....... - ........ - ··"· · · ·· · ... - ···· .... - .. .. St. L.& Iron l\It.-lst .. 7 115 -115¾ 118 -114¼ 114 -1141.,i 114}6- l1 4¼ 110 -1!4 110 - 112 113 -113 110 -112 107 -107¾ 110 -lll 111 -112 111½-113 2d, 189.,, .... . .. ...... .. . 7 lOll:k{-108½ 1'-'8¼-109½ 110 -111¼ 111 - 111 ½ 102¾-108 09 -103 09 -104 104 - 104½ 101 -104½ 104¼-105 100 -102 102 -104 Ark. Branch . .. ...... . 1 106 -107 107 -109½ 108¾-110¾ 109½-1 !2 no -110 101 -104 101 -105_ .10-1 -)9~ 105 -WO 106 - 10~ 106½-108 105 -106   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  •••  .. . . . . . .  -  ••••  1  ii2  93 - 95½  I  RAIL/WAD BONlJS.  64-  18!!t4-C:oncluded. JANUARY FEBR'RY.  MARCH.  APRIL.  MAY.  JUNE.  - - - - - - - - -· - - - - - - - ----  BONDS.  JULY.  AUGUST. SEPT'BER. OCTOBER. NOV'BER . DEC'BER.  ---- ---- ------- ---- ----  Low.High Low.High Low.High Low.High Low.High Low.lligh J,ow.High Low.High Low.High Low.High Low.High Low.Hlg-h  ---  ----  St.L.&I.M.-C.&F.1st.1' 105 -107 106¾-108 108 -108¾ 108 -108% 105 -108¾ 102 -105 99 -103½ 103½-105 103½-105 104½-106 104¼-106 106 -108 Cairo Ark. & Texas. 1 lQ.5!,a-105¼ 106¼-107 107 -108¼ 107¾-lCS½ 108 -108 100 -100 100 -102 103 -104 103½-10 '¾ 102¼-105 103¼-104¼ 101 -10~ 71 - 7U 74¾- 77 70 - 74½ 60 - 72¼ 53 - 64 General consol. mort .~ 68¼- 73 57 - 65¾ 66 - 68¼ 67 - 70 64 - 67½ 64 - 67 66 - 73 St.P. Minn.& M.-lst. ,1 107 -100¼ 108 -lOP¼ 108½-109¾ 109½-lll lO!J¼-112 110 -115 107½-108½ 109 -110 109 -110½ ll0½-111 108 -110 .... 2d ......................... 6 108¾-110 110¾-112 112 -114 111 -112 109 -111 105½-105½ 105½ 108 1"8 -109½ 110 -110 1108½-109 106½-108½ 108½-110¼ Dakota Extension .... 6 108½-110 110½- 111¼ lU½-113 113 -113¼ 108 -110½ 106 -109 107 -110 109 -109½ 107½-110 109¼- 110 107 -108¼ 108 -109~ 99½-103½ 103½-105 104¾-105½ 104 -106½ lOl½-106¼ OS~f-101 100¾-102 100¼-101½ 100 -102 100 -103 103 -104 1st, consol. .. ... ....... 6 98¼-100 .... 104 -104 .... - ... . ... - ... .... - .... ... . - .... . ... - .... .... - .... .... - ... ... . . 1st. consol., reg . ....... ti .... - .... .... - . ... .... Min. Union-lst ....... 6 .... - .. .. 105 -107 .... - . ... .... .... . ... - .... .... - •·•· .... - .. .. .. - .... .. - ... . .... . ... .... .... . ... .... Shenand'h Val.-lst ... 1' lOf\½-107 106 -110 110½-113 112½-113½ 113 -118 111 -111 104½-105 104 -105¾ 104 - 105 103½-104 .. .. - ... 100 -100 - .... 79 - 80 80 - 85½ 81 - 81½ .... .... .... - . ... .... - .... .... .... ·• · . .... .... 50 - 50 36 - 88 Gen. 1nort ............. . 6 8outh Carolina-1st ... .6 ;04 -105 105 -105 105 -108 105 - 105½ 105 -105 103 -108 102¼-108 100½-103 102¼-103 98¼- 99 100¾-103 103 -108~ .... .... liS - 98 96 - 97 97 - 97 ... - .... .... - ... .... 2d .................... .. ... 6 .... . . ... - .... .... ... 90 - 90 51 - 51 50 - 51 Incomes. ... ............ 6 54 - 55 50½- 50½ .. . - .... .. .. - .. .. .... - .... ... .... - .... .. .. . ... .... - . ... - . ... .... Texas Central-1st ..... 1 107½-107½ 106½-100 t09¼-109¼ 108 -108 i.05 -105 =97 -100 99 -101 100 -102 .... - . ... .... - . ... 98 - 91) 98%- 98¾ 9-1½- 96 Tex.&N .O.-S.Div. tst.6 92 - 92 88 - 92½ =90 - 94 95 - 95 75 - 82 80 - 82 89 -'_89 80 - 81 79 - 85 82 - 82 81½- 84 64¾- 67 68 - 72 61¼- 71 .... - .... .... Virginia Midlaud-lnc.6 63 - 65 .... , .... . .... .... - ... . 55 - 60!-( 60 - 61 58 - 58 . .. . - .... Wah. St. Louis & Pac.68 - 07½ 65 - 6S General m_ort .......... 6 rn - 69 44 - 67 38 - 50 86¼- 80~ 87 - 45¼ 44 - 47% :::9 - 39 82 - 42 38 - 39 85¼- 89 Chic. Div ................ 1) 72:J,4- 75¼ 74 - 77½ 77¼- Sl 75 - 75½ 65 - 70 ES - 70 69:½- 73 55 - 65 68½- 70¼ C5 - 69¾ r,7 - 71 71 - 73¼ ... - .... 80 - 80 HavanliDiv ............ 6 .... - . .... .... - .... .... - . ... . .. . - . ... - .... .... .. . ... - . ... .. .. - · ·· • Toi. P. & W.-lst ..... ,- 106 -107 105 -105½ 108~-110 107¼-109½ 97 - 99 80½,- 82 ~2 - S;3 91 - 97 t'4¼- 85 80 - 80 &O - 84½ 80 - 85 Iowa Divisjon . .... . 6 .... .... 80 - so 85 - 85 80 - 81½ - .... .... - . ... .... - .... · ••· - .... .... - .... .. . - . .. . ... - . ... .. .. - . .. . Cairo Div ....... .. ...... ;; .... .... .... - ... 75 - 75 .... - ... . .... - ... . ... - .... .... - . ... . ... - . ... .... - .... 55 - 55 . .. . - • •·• . ... - .... .. .. . ... . ... - .. .. .... - .... .... - ... . .... - ... . ... .... Wab'sh-Mo1·t. 19091' .... .... 'iO - 71 ... - ... 73 - 73 70 - 73~ Tol.&W.-lst, ext'd.7 107¾-107½ 104 -105~~ 105¾-106 105 -105 99 -102}-i 03½-100 - .... 102 -105 101¾-104½ 101½-108 101%-104 105 -105 08 -101¾ 99 -103 00 - 00¾ 91 - 9i¾ uo - 93½ 88 - 90 1st, St. L. Div. ..... 90 - 03¾ 90¼- 07 94 - 94 91 - 93½ 93 - 96¼ 96½- 06½ 2d, extended .... ...... 7 P6½- 99 98 - 98½ 100 -101¼ 91¼-100::/4 !.'5 - 91 ... . - . ... 74½- 87 87 - 90½ 88½- 90½ 87 - 90 88 - 95¼ 93½- 97½ Equipment ........ 7 ... . - .... .... so - 34 .... - ... ... - .... ... . - .... .... - .. . .... . ... .... - ... . .... - .... .... - .... . ... - . ... 85¾- 87 Consol., conv .. .. .. ... 1 [ 79 - 84 86 - Si 60 - 6U 74½- S.'i rn - 60 50 - 72 63 - 72½ .... 70 - 74 78 - 80 80 - 83 Gt. Western-1st ...... ,- 106~4-106¼ 103½-104 105 -105½ 102½-105 · l '.ll -102;,~ 99 -100 99½-102.¼: l02 -104¼ l02 -102 101½-1.02¼ 100¾-102 104 -104 ~d ...... .......... ....... ,- OJ - 99 98½- 99 99!1.t-102 95 -101½ 90¾- 93 70 - 75 75¾- 8> 87 - 90¾ 89 - t:,..c; 87 - 91 88 - 91½ 92½- 97¾ St.L.U..C.&N .-Rl.E. 1 108 -109 108 -109 106 -107½ 101½-106¾ 100 -103 98 - 100 100 -101 07 -105 100 -101 96 -101½ 95 - 98¾ 90¾-102 Omaha Div .......... ,- 109 -110¼ [09"~-110)1' 112 -114 109 -113 99 -108½ 99 -100 92½- 98 95 - 06 98 -100 100 -10'} 97 -100 99½-102 Clarinda. Brancb ... 6 .... - .... .... - . ... .... - .... .. - .... ... . - .... . ... - .... 88 - 88 .... - .... .... - .. .... - . ... .... - . ... .... .. .... St. Chas. Bridice .... 6 .... - .. .. 81 - 83 82¼- 83 .... .... 82 - 82 .... - ... . ... - ... . 75 - 75 . ... - ... . ... - .... . ... - . .. 80 - 80 North. Mo.-lst .... ... . ,- 116%-117½ 116½-117¾ 118 -118 118½-118½ 116¼-119 110 -116¼ 107½-110 108 -115 108 -110½ 108 -110 108¼-110 no -111 Wabasb-Fund'd int.Toi. &Wah. 2d .. .6 .... - .... 104 -104 .... .... .... ... ... . - .... .... - . ... ... - . ...... - . ... . .. .. . -··· - .. .. .... - . .... . Warren-2d .... ........ 1 .... - ... ... . - . .. .... - .... .... - . ... 118 -118 . ... - .. - .... - . ... ·•• ... . ·.... .... .... ... . . West. Un. Tel.-Coup .. 1 113 -114 114 -115 115 -115½ 115¼-115).-ylO -110 105 -107¾ 107 -110 112 -112 .... - .... 110 -110 10'3 -108¼ '108 -108 .Reiciste1•ed ............ ,- 112%-113 114¼-114¾ 114¼-117½ 115 -115¼ 111¾-l:i.2 ... - .. .. 106 -110 11:¾-111½ 111¼-111¼ . ... - . ... 109 -109 1107 -107  - ....  -  .  -  ....  .  - ... ~  - ... .. .. - . .... -. -  -  .... -  -  .  -  -  -  ...  .... -  ....  ....  -  ,  -  - ...  -  -  -  -  BONDS.  JANUARY FEBR' RY.  MARCH.  -.  APRIL.  -  ....  MAY.  JUNE.  JULY.  AUGUST.  ... - ... - . ... - ..  -  -  'EPT'BER  OCTOBER  NOV'BER. DEC'BER.  Low.High Low.High Low.l'Iigh Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High  Atlantic & Pac.-tst .. . 6 West. Div.-Tn•·ome.. 6 Bn.lt. & O.-lst, P.Br .. 6 Gold, t9·l~ .... ......... 1) Rost. H. & E1·ie.-:1St . .,Btn-. c. n. & No.-tst .. ~ Cons 1st & col. tr .. . ;; lowaC.& W.-tst ... 1' Min. & Sr.L.-lst,iru.1 Ced. R.I.F.& N .-1st 6 1st, 1921 ............ . :i B.N.Y& P.-ht,1921.6 Central Iowa-1st . ..... 1' En.ste1·n Div .-1st .... 6 Ills. Hiv.-lst, 1912 6 Cent.olN.J.-lst,1890.1 Consol., assented ..... ,Couv., assented ...... . ,Adjustment ............. ,. Conv. deb ..... ....... 6 Lela.& W.B.-Assent 1' Income ................ . 1' Am. Dock & Imp . ..... ~ Cites. & O.-Pur.lll.fd .. 6 Series A .... ..... ....... ti Series B .. .. . . . . . .. . 6 Currency..... . ...... . .. 6 Mort., 1911 ............ 6 Ches. O. & S. W . .... :i-6 Cbic. & Alton-1st . .... 1' Sinking fHnd .. ..... . .. . fl Lou.& Mo. Riv.-lst .1 2tl, 1900 . ... .......... , St. l,.J.& Cltic.-lst .. 7 2d (360) .. .. ... ... .... ,Chic.B.& Q.-Consol ... 1' Debentm•e . .... . . .... . :i Iowa Div... .. . ... ... 4  ..  75½- 77'1; 78 - 74¾ 69 - 74½ 69 - 78¼ 71 - 74½ 71 - 715 70 - 72 70¾- 72% 70¼- 72¾ 71 - 80¾ 80~- St 80 - 86¾ 16¼· 18¼ 16¼- 18¼ 13½- 16¼ 18½- 17 15¾- 17 15½- 16¾ 14½- 16¾ 15¼- 20 16¼- 17¾ 111¾- 24½ 28½- 27¾ 21).(- 25 .... - ...... .. - ... . .... - . .. . .... - .... 117½-117½ . ... - .. .. 121 -121 121 -121 .. .. - . . . 119 -119 . .. - ........ . ... - ........ •.. .. - ........ - ........ - ........ - ........ . .. 104 -105 103¾-104½ 101¼-106¼ 106¼- 107¾ 107 -108¾ 11½- 11½ - ........ - .... 20 - 20 101%-105 104 -105½ 105¼-106½ lOll¾-108½ lv7¼- l08 105½-107¾ lOfl½.-108½ 108!.?-109½ 108 -109½ 108¼-109 108½-109¾ 106¼-108½ 90 - 90 90¼- 91¼ 91 - 91¼ 95¾- 96¼ 95½- 96 95½- 95½ 97½- 99 97%- 977/4 98 - 98¾ 95½- 97½ 97 - 98 IJ9½- 99½ .... - ........ - .... ll3 -113 ... . - ....... . - . .. ..... .... - .... .... - .... 140 -140 . ... . . .. 108 -108 108½-110 107 -107 10811,-1087,1, l07½-!07h; 107 -107½ . . . .. .. 109 -109 108 -108 .. . . .. . .... 96 - 96 00 - 96 .... - .. . . OB - 96 .... 99½- 99½ .... .. . - .. . 89½- 89¾ 89¼- 89¼ 88¼- 48 40¼- 46¾ 41½- 49¼ *85 - 91½ *91¾- 95 •~•7 -101 *100 -102 •i;5 -100 *95¾- 96 *93½- 97 ..90 - 91½ •oi - 94½ 94 -101 *102½·107 *106¼-110 . . . . - . .. . 60 - 60 60 - 60 60 - 60 57 - 58 .. . . - . . .. . . • . - . .. . 54 - 57½ 55 - 57 58 - 66 64 -- 67½ 137 - 70 .... 64 - 66 65½- 67 68 - 69½ 114 -114¾ 109 -11-.l '109 -111 *110-111½ *11½-112 *ll2 -118½ *118 -114 *118 -113½ 110 -110 111 -111½ 111 -111½ 112 -112 94¼- 99¼ •95 - 99¼ *98 -102½ *92 -101) *98 -100 1*99¾-105 *99 -104½ *108-105¼ 101%-103½. *102½-106 "105¾- 07¾ *104¾-067¼ 94¼-100 95 - IJOxi 95 -102 9! -102½ 100¾-108¼ 102½-108 100 -104 103 -105¼ 102½.-105¼ 1029,(-106¾ 106¼-109 106 -lOi¼ 100½.-103 102¾-104½ 103 -108 108½-107½ 104½-lOS 105½j-l08 108 -108¾ 108½-108¾ 108½-110 108¾-110¼ 109½-110½ 107 -109 68 - 6!S 65 - 70 5-1 - 75 62½- 62½ 61 - 6~½ 61 - 60 60 - 64½ 64 - 70 63 - 66 68½- 68 62¾- 65½ 63 - 64¼ 87½- 90 88½-100 92½- 98¼ 90 - 97 95 - 96 9-1¼- 98 95 - 9i¾ 9i½- 99 95 - 97½ 99 -108 108½-107½ 104 -105 .... 70 - 74 76 - 76 77 - 77 80 - 80 .... - .... ... . ... - ........ - .... 80 - 82 83 - 84)4 88 - 88 82¼- 88½ 80 - 84 88½- 87 88 - 84¼ 83 - 88½ 85½- 87½ 88 - 89½ 112 -112½ .... - ........ - .... 10\J -109 100 -110 .... - .... 110 -110 110 -110 111 -111 102 -104 108½-104¾ 104 -110 96 -101 96¼- 96¼ 96½- 99% 102 -102 102 -104 101 -101 lOl½-101½ 101 -105 108¾-105½ 70½- 74¾ 70½- 7fl¼ 73 - 79 5B - 72¼ *58 - 61 "58¼- fll½ *60 - 66 *65½- 72½ *68½- 71¼ *63 - 7:.l% •69½- 78!,c *76¾- 80 23 - 26 23xi- 26¾ 24 - 26½ 14 - 23 16 - 19 18½- 20 20 - 24½ 28½- 29 25 - 2~½ 20 - 29¾ 28¾- 36 88 - 3~ ¾ .... - .... 92 - U2½ 92 - 92 90 - 90 .... - .... 86 - 86 87 - 87 84½- 90¼ 90 - 97¾ il6¾-100 70 - 71 70 - 72 73 - 73 .... - .... 70 - 72¾1 72½- 76 75 - 77 80 - 81 83½- 84 85 - 90 116½-116½ .• - ..•. 118½-118½ ...• - . . 119 -120 .... - ........ - . • . . .. - ... . .... - .. .. 119 -120¾ 121 -121 119½-119½ .... .... - .. . 121 -121 .... - •... 120 -120 122 -122 . . . - .... 128 -123 124 -124 121¼-121½ 121½-121½ - .... ll'!¼-118¾ 120¼-120½ .... - .... 121 -121 121¼-121½ 122½-122½ 121 -121 .... - ........ - .. . ..... - ........ - .... 118 -118 .... - .... 119 -119 - .... 113 -120 117½-117½ 117¼-118½ .... - •.•..•.• - •••. 117¼-118½ 119 -119½ 119½-119¾ .... 120 -120 .... - .. . . 117 -117½ 118¼-119 125 -i25 .... - ........ - ........ 128¼-131½ 130 -131½ 181~.(-133 182 -183 188 -134¼ 135½-136 182½-185 183½-135 184 - 136 136%-137!,4 185¾-137 136½-188 96¾- 97¾ 97¾- 99¾ 98¼-100 99:1(-101½ 99 -101¾ 101½-104 )103¼- 105 104~4-105 lli3¾-104¾ 103¾-106½ 103½-105 104¼-107 93¼- 94~ 98¼- 94¼196¼- 96½ 94 94¾- 95½ 96½- 98¾ 98 - 99 97¼- 98½ 9~- 98½ 97¼- 98½ 96¾- 97¼ 99½- 99¾  ~~:i:~~ ~·i·~::.~.~~~ .. :! -~~ = ~~~ .~~ = ~ ..  :~~= :~  Citic. & E. 111.-tst, s.f.6106 -108 ... - ... 108 -109¾ tstconsol., icold .. ..... 6 .... - .... 90¾- 98 Chic. -lllihv. & St. P.ht P. D., 189S .. .... 8 .... - .... 130 -130 . ... - .... 'ld, 1S9S ..... .... 1' 3-10 128 -124½ 118 -118 118½-119 1st, gold ....... . . . ....... ,. 127½-127¾ 130 -130 1st La Crosse Div .. .. 1 116 -117½ l17 -117½ 117½-ll:-l½ 1st I. & M. Div ..... ... ,- 117½.-118¾ 118½-119½ 119¼-120¾ ht I. & D. Div ..... ,- 119 -119 ... ~ .... 119½-119½ 1st c. & M. Div ...... ,- 125 -125 126 -126 128 -128 Consol.. ............. . . .. ,- 118 -119¼ 118¾-120½ 120½-121¾ 1st I. & D. Exten . .. .. 7 117½ -119¾1.... - ... . 119¼-120¾ 1st So. West Div ...... 6 109 -110½ 110½-lll 110½-111¼ ht La C. & Dn.v ...... :i 96 - 96 97½- U7½ .... - . . . . '  • c'oupnn ·o ir•.   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  ,,  '  o•  . ~~  = ·::: ::::  .~~¼= ~~~ ·-~~ =~~..  ~¼= ~~. : =95¼ :::: = ::: : 111 -118¼ 112¼-113½ 111 -111 110½ 111½ 110¾-112 lll¼:-115 94½-100¼ 99 -100 99 - 99¾ 98½- 99 98½ - 99¼ PS½-108 181½-131½ 118¾-118¾ 127 -130 .... - .... 120½-121½ . ... - . . .. 127 -127 121¼-124}\1 .. . - .... 111¾ 111¾ 97¼- 97¼  130¾-130¾ 181 - 134 ... - .... 121 - 124¾ 130½-130½ 180½-13 1½ 118¼- 119½ nu - 121 122 -122 121 -121 123 -123 124¼-124¼ 130 -130 124 -125 125½-127 122 -12H 1·2··2·%--124 ... 112%-113 98½- 100 1 .... - ...  -133 130½-132 -126¾ - .... 129 -129 -118½ 118 -119 -119 120 -121 -H?2 120 >-120 ........ - ... , 124½-125¾ 124¾-125¾ 133 124 ... 118 118 122  131¾-188 123 -123 127½-129 118 -llS - .. , . - •.•. . ... - .... 126 -128  1_2••1.½-_12·2·:>!!·.· 112128 - 128 1122½-128 98 - 98¼ . ...  =~~~~  ~~:½=~~:¼  :¼ ~~ =~.. ~ =~~  :%= l15hH18 99¾-104  117 -117 115 -116 104 -105¾ 107 -111¾  134 -134½ 135 -185 125¼-125!1; 128 -125 129 -130~ 129 -129 118 -118¼ 118¾-120 .... J . . . . 122 -122½ 125 -125 125 -126 129½--129½ .... - .... 126 - 128½,128 -130¼  134½-185 125 -128 13'lJ1i-132½ 120 -123¼ .. .. - ....  128 -125¼ 126 -126  128½-129  ~~~½=l~~..I::::  128 -123 130½-131  = :::: i~~=i:¼  RAILROAD BONDS.  65  l§So-c:Jontinued. JANUARY FEBR'RY.  80 ______N_»_s_.____ 1Low.Hlgh  M.A.R0H.  APRIL.  MAY.  JUNE.  JULY.  AUGUST. 8EPT'BER.1 OCTOBER. N0V'B.ER. n1:o'BER  Low.Hlgh Low.High ~w.Hlgh Low.Hlgb Low.Hlgh Low.High Low.High Low.Hlgh !Ln11.E!igl> Low.High Low.High  i---- ----  Chic. Milw. & St. P.-  ·- - - - - - - - - 1st So. Minn. Div .... 6 iO~ -l09 lC0 -110),.( 109½-112 lll!J(-112)4'. 111¼-118¾.112)4'.-11'½ 111 -114½ 112¼-113¼ U2¾-118¼ 118 -!15 115 -116 116 -117 ls~ H. & D. Div .... ... 7 ll7 -117 118 -119 118,½i-119½ llll¾-120~ 12(%-128 1122¾-128 120¼-121 120¼-121 121 -122¾ 122%-125 125 -1~ l~Url27 Chic. & Pac. Div ...... 6 112 - 118 112½-118 .... - ••.. 114 ·lH¼ 115 -115~ 115¼-117 118 -114 116 -116¼ 117 -117 .... - . ... .... - .... 121 - 121 Western Div ......... ~ 98¼- 94)4 93!'(- 95 94~- 95¼ 94'-'- 95;-' 95½- 98 97"- 99¾ 97 -100 98¼- 99 98 -100~ 99::k;-101¾ 101¼-108 102%-105¼ Mineral Point ......... ::; . . . . - . .. . 95¼- 95¼ . . . - • . . . . . . • - • . . • 97 - 97¼ P77k 98½ 96¼- 98 97¾- 99 99 - 99!}:( 911~-100½ 101¼-101½ 100½-103 1 .~::: 1 'J.'ermlnal. ·... ........ .. :i 91"- 92 91!'(- 92~ 90 - 93 89 - 91¼ 91¾- 98¼ 98 - 95½ 92¾- 94¾ 118¾- 95 98¼- 95 94¾- 99 98!}:(-101½ 101¼-104. Fargo & So.-Attsu ... 6 .... - ........ - ........ - ........ - ........ - ........ - ........ - .... ... - ....... . - .. 111 -118¼ 118 -114¼ 115 -115 Chic. & ~ortbwest.S.F., 18815 ............ 7 104.¼-104.¼ 101%-101¾ 102½-102½ 102¼-102½ .... - •••..... - ....... . - ........ - .... - ........ - .. . . .... - ....... - .. . Consol. ... .... ..... ..... 7 184 -100 185}:(-136 186¾-18~ 187 -187½ 135 -188 137¼-141 188¼-140 137¼-188 187½-138 138¼-189¾ 188 - 189 138¾-189¼ Extension, lSSl, .... .. 1 .... - ........ - .... 102%-10~¾ 102½·102.½ !OS -108 .... - .... . ... - ....... - . ..... - . ....•• - .•.•.... - ....•• . - ••• ht mort., 188:i . ....... ? 104.J.(-105¾ lCll½-102½ 102¾-102¾ 102½-102¾ :02!'(-103,½, 108 -108!,i( .... - ........ - •.•....• - ... ..... - .... . . - . . • ... Gold, coup ............ . . 7 1215 -128 127 -128% 128½-180 128¾-180¼ LSO -181 127¼Jl29 180 -182½ 128 -180 128%-129¼ 180 -181½ 182 -188 128¼ 180 Gold, rc,r .. .. ........ . ... ? 124½-128 126½-128 128)4-129 128!}:(-129 . .. - •... 128¼- 129 181½-181½ 127 -128¼ 127¼:-129½ 129½-181¼ .... - .... 129 -129½ Slnkinir fund.coup .... 6 110½-112½ 112½-112½ 118 -llS 112¼-112½ ll4 -114 118 -118 112½- 116 117¼-118 118½-121 117 - 117 115½-116¼ 116 - 117 Redstered . ...... .... 6 111 -111 lll¾-111% 118 -118 112½-112½ .... - .... 112¼-113 .... - .•...... - .... 118 -118 .... - ... 115½-115½ 116!}:(-117 Sinkinir fund, ceup ... ~ lOS¼: -104~ 105 -105¾ 104¾-107¼ 108 -103!'( 10!1 -1051,,f 105 -106 106)1(-106½ 107 -107 108½-110 107 -107½ 106½-108 107¾-110 Jteiristered . .... ..... ~ .... - .. t v4~-10;'S . . - ........ - .......• - .... 106 -1Cl6 . ... - •... .. .. - .... .... - .... . ... . ....... - .•.. 108 -108¾ DebeLtare ........ .. ... ~ 94 - 9~ 94¼- \17 96¾- 98 97¼- 99¾ 96!}:(- 99 00 -101¾ 101½-103!,i( 102¾-102" 101¼-102½ 102¾-106 108 -108½ 1102½-104. ~:i yrs, deben., 1909.li 98½- 94¼ 114 - OOni 95¾- 97¾ 96 - 98-}.! {15¼- 97 96¾-100!,,z 100½-103 101 -102~ l()()¾-101% 102 -105 1-02 -102➔i 102¾-104. Escan.&L.Sup.-lst.ti ... - ..... ... - .. . ..... - ........ - ........ - ....... - .. ...... - ........ - .... 111 -111 . .... - ...•.... - .... 114 -117¼ Iowa Midland-18t ... S 180 -180 ...• - ..•....• - •••...• - •••. 180 -180 182½-1S4 185 -185 ...• - .••..... - ... : 188 -188 .•.• - .•.. 182 -188 Chic.& Mil.-ht ...... 7 121 -122¾ 121~-123 124 -124 •••. - •• •. 125¾-127¼ 127 -127 .... - •...... - •....... - ••. 129 -129 129 -129 128~-l~ Winon.,a& St.P.-bt.7 104½-105~ 105-:1(-106¼ 106 -107 U>e½-106¾ 106%-107¾ 108 -:09 104¾-105½ 105½-106 105,¼-106 105~-106 106'-l-10? 106¾-107 'ld ....................... 7 . ... - .. .. 125 -125 126 -127 126 -127 125 -125 1126 -126½ .... - ......•• - ......• - ••. . .... - ....• . .. - .......• - ... . Ottum. C. F. & St. P.li 100½-101½ 101 -108 100½-102 l~-101-U 101¾·1 ~ 102½-108¾ 104¾-105 105~-10~ 104~-105¼ 105!,,(-106¾ ll6¼-106¼ 106 -106!}:( Chic. R.I. &P.-Coup .. 6 125¼-127¾ l~ -120 128¾-1~0½ 1~ -129¾ 129%-!81 131½-188¼ 180 -181~ 128J.£-181 180½-180½ 181 -182 181¼-182Ji 182 -182¾ Registered . . ............ 6 100½-127 12,¾-1277~ 128¾-129¾ l21J½-129½ 129½-•29½ 1132 -188 180 -180 .... - .•.. 129 -180 181 -131 181¼-181¾ 181 -182 Exten. & Col. ......... ~ .... - .... 105¼-10~ 107 -107½ 107~4- l ~ 108%-109 1()9¼-109¾ 107:J(-110~ 110 -11°'-' 110¼-110¼: 109 -110¼ 109½-110¾ 110½-111 K.eok'k&DeslU.-lst.:i 104.¼-104¾ 106 -lu7 107½-108 .... - ••.. 10?¼-108 107¼-108¼ 108¼-109¼ 109 -109 109 -109 109 -109 109 -109 108½-110 Chic. & St. L.-1-st .. .... 6 .... - ........ - ........ - ..... . .. - ........ - .... ... .... - ....... - ... . 102¼-102¾ 102¾-108 103 -lGS 108 -108 Cbic.St.L,&Pitts-lst.l, 75 - 75 . . - ••••.... - . . . . 78¼- 78½ 76 - 76 79 - 80 .... - ........ - .... 85 - 85 88 - 88 90 - 90 .•.• - •••• Claie. P.t.P. Min.& Om.Consel., 1930 . .... .. .G 111 -112 111¾-ll~ 110½-112 U0¾-112¼ 111 -lU 11()¾-112 111½-112~ 111 -1~ 118 -114~ 114 -11~ 116~-118 117 -119'( Claic.~t.P.&M.-bt .. 6117 -117¾ 118 -119½ 12°'-'-128 120½-122 118 -119½ 119¼-121 121 -122 122¼-128 128½-128~ 128¼-124 121 -121 128 -128 St. P. & S. City-lst .. 6 116%-117½ 119 -119 120 -121¼ ll?½-118 119¼-120 119½-121½ 120¼-122 121¾-122 121!'(-128¼ 122 -122½ 122¼-l~ 128 -124 Ch.& w.I.-lst,s.f.'19.ti .... - ........ - .... . .. - ....... - .... . ... - ........ - ... .. ... - .... 115½-115½ .... - •... 116 -115 .. - ......• .• Gen. morr .... . .......... 6 .... - .... 103¼-104. .... - ..•. 108½··105¾ 105¾-106 108¼-1037-( lOfi:)s-106 lOf>Ji- 106 100!,,(-105¼ 96¼- 97¼ .... - •.. . 107 -108 Cin.&S.-Gu.C.CC &1.7 110¼-lll¼: 111 -ll:.!½ .... • .. . 110 -110 .... - ........ - •... 108 : 110 ... - . .. . 110 -111 107":,f;-113 ... - •....... - •..• Gua1·. La.kP Shore .... 7 112¼-118 115 -115 114 -114 .... - ••• . .. - .•.. 100 -109 ... - .. . ..... - .......• - .. .. 112 -117½ ... . - •... 118 -118 CJ. c. c.& 1.-lst, ~ td.7 .... - ........ - .... 122 -122 125½-125½ 120 -121¾ 120 -121~ 121¼-122~ 122 -122 124 -124 125 -125 1221)4-128 121 -128 Consol.. .................. 7 lW -119 .... - •.•...•• - .••• 121 -121½ .. . . - ••...... - .... 114 -115 .. . . - .... 118½-119¼ 119 •120 .... - .... 121 -122 Oonsol. S. F ....... . ? .... - .... 122 -122 124 -12-l 125 .126 121½-121¾ ..•. - • .. . - •... 122 -122 128 -128 .... - ....•... - ......•. - •... 4ileneral coos . ... . .6 98 - 98¾ 98 - 00 IJ9 -100 98½- 98¾ . . . . . . • . . .. - .•...... - .•. . .... - . . . . 96 -100 97 -108 102)4-107 Col. Coal & 1.- lst,con.6 156 - 59 57 - 70 66 - 66 60 - 62 60 - 6l> 65 - 70 I 60 - 69½ 65½- 78 74 - 78 77 - 89 85½- 89 86 - 92 Consolid'nCoal-Conv.1 .... - ........ - ........ - ... . 1()4¼-104½ . ... - ..•.. . .. - •....... - .... ... - ....... - ... ... .. - . ......• - .. . ..... - ... . <Jol.H. Val.& T.-lst .. . ~ 61 - 61 60 - 70 72 - 74 74 - 7~ 75 - 76 75 - 75¼ 74 - .76 76 - 76½ 74¾- W 78½- 80 76 - 88 80¼- 85),( t;umberl'd & Pa.-lst.6 .. . . - . ... 102 -104 .... - ..... •.. - •... 101¼-101¼ 101¼-101¾ .... - . ... .... - ... . .... - ... .. ... - ... . .... - ..•. - ...• 2d, 1"'88 ··············· ·6 . . . . - .... .... . .... . .. - ....... - ........ - ....... - ···· '· ••· - ... 108 -103 108¾-108½ •.. - ........ - .•.... . . - ...• Del.&Hud.C.-lst,'91.1109}:(-111 112 -113 a2 -118 112¼-114 11'¾ ll5½ .... - ... ,112½-112½ 113 -118 114¾-115 ll(¾-116~ 115 -117'4116½-116½ Coupon, 1894 ... ..... .. 7 117 -117 il7 -118¼ 118¾-119 115 -115 116 -117 !17 -117 117 -117½ 118 -118 120 -121¼ 117 -118 117¼-119 lllJ -119 Reg., 1894 ............. 7 117 -117 .... . ..• - ....... - •....... - ........ - .. . 118¼-118¼ - .... 120 -120 .... - ..•.... . - ........ - .•.• 1 Penna. Div.-Coup . ... 1 lU½-182¼ 13l -188½ 181 -181 LSl -181 185 -136 186 -186 187 -187½ - .... 131½-183 188 -188½ 184¼-184½ 184½-Ur, Penna. Div.-Uea- .... 7 LSl½-182 ...• - ......•. - •. .. •. .. - ........ - •... 186 -lStJ .... - ........ - ... . .... - •... ..• - . ... .... - .... .. - •. •. Alb. & Susq.-bt 111 • . , ••.• - •••. no -110 109 -1rp .... - ..... . .. - ........ - .... 109 -1()97,1\ ... - ........ - .... lll!J(-112 ll()ll:(-11~ 110¼-110¼ ~d mort ..... ... . ...... . 7 1-0S¾- 108¾ 104%-104.½ 104¾- 105 lOl¾-101¾ l01¾-1Cl2 I l02¼-102½ .. .. - .... 108 -108 108~-103½ .... - ........ - •....... ts,, con., iruar . .... 7 .... - . ....... - .. . 127½-127¾ 128 -128 128 -129 128¾-129¼ 129¾-180 .... - .... 180 -181 127!}:(-129 128%-129½ 129 -180 1st, con. gua1·., reg .7 120 -120 .... - .... .... - ........ - ....... - ...... .. - ... . _ . ....... _ .. _ ... ..... _ ........ _ ....•... _ .. . ht con. ,rual" .. .... . .. 6 112 -112½ 112½-112¾ 114 -115 111%-112 112 -112½ 112~-115% 115½-116 116 -116½ 116¼-118¾ 115 -116½ 116 - 116½ 116¼- 117¼ 1Kt, con. gunr., rea-.t> .... - ........ - ........ - ... . - ... . .... - . ... - ........ - ........ - .. .. . ... - ... . . . • - .... 114 -114 .... - ... . Rens. & Sar.-Coup . ., .... - .... 187 -187½ - .... 140 -140 140 -140 140 -140 140 -140 14 1 -140 .... - .... 148 -148 .... ~ •... 14.2¼-142'-( Oel.Lack.&W.-Conv.7 .. .. - ........ - .... . ... - . . .... .. - ........ .... - ........ - . . . ... - . ... 118 -118 .. - ... • 118 -118 114¾-115¾ fort., 1907 ...... . 7 .. .. - . ... 180 -180 182 -18t 182~182¾ 188¼-188¼ 186 -186 185 -185 186 -186 187 -187 .... - .... 188 -138 187 -187 Syr.B'n.& N. Y •• 1st .. 7 .... - ........ - .... 127½-128½ 125 -126 . ... - .......• - . . . . . . . - .... 185¾-185¾ 185¼-185¾ .••• - ........ - .... 188 - 188¼ Morris & Essex-bt.'7 184 -186 187¼-138 188½-140 138 -140 140¾-HO¾ 142 -144 140 -140X: 141 -144 148 -14,i¾ 148 -1.44 141 -141 141 -141 ~d 11101•t •.•....•.•..•.. 7 114¼-115 ...• - .... 112½-115 114 -114¾ ll-1¼-ll4½ 114½-117 117 -117½ ... - ... 118~-114¼ 118¼-114½ 114~-115 114 -115¼: 1900 . ... . ....... ...... 7 .... - ........ .... - ........ - ...... - .... 122 -122 120 -120 118 -121 .... - ... . .... - •.. 129½-129¼ .... - ... . 78, 18'11 .......... . .... 1122 -122 125 -125 128 -123 122 -122 . ... - ....... - .... 124 -126 124½-126 124½ 127 .... - .•...... - ... . 124 -124 Consol., guar ......... 7 128¾-124 !28 -124 124 -125 124 - 126¾ l25¾-lt8 124 -125¾ 125 -126 125½-126½ 126 -127!,i( 128 -180 180 -188 129 -180~ N. Y. a.. & W.-lst .. 6 ll7 -118 lUI - 12(1 llll~-122 hl2 -122 120¾-122 122 -124¾ 122½-125 124 -124½ 121¾-124¼ 122½-124 123!'(- 125 125¾-128 Construction .. . .... ::; 96¼- 97½ 05 - 95¼ 95¾- 96 95!}:(- 97¾ 97½- 99 119¼-100 100¾-102½ 100 -101 100¾-101 102 -104 104 -105 104 -106 Denver & Rio G.-lst.7 80 - 86 t,4 - 92.¼? 8\1 - 90 89½- 94 9$¾-102 I00½-106 104¼-112 108 -112 111 -116 115 -118¾ 117¾-121 118 -128 t.Jommlidatcd . ..... .7 46~- 48½ 46-¾- 60 48!'(- 49½ 50 - 52¼ 51),(- 5i% 54¾- 56¼ 55½.- 64¼ 64½- 78 68¼- 78 77 - 85½ 88 - SS½ 88!'(- 87 Trust Co. receipts . .. . . ... - ........ - ... ..... - ... . - . .. . ... - .... . . .. - .... . ... - ........ - . ....... - ... . 82 - 85 88½- 87½ 85;!4- 98 Denv. Rio G,W .-1st . . 6 8~- 88 37¾- 41 40¾ -4l'A 89 - 41 88¼- 40 88½- 42¼ 42 - 48½ 48 - 54¼ 61 - 58~ 1>8½- 75~ -71½- 76¼ 72 - 'ii>~ Oenv. So. P. & P.-lst.7 80 - 80 80 - 80 80 - 82 65 - 78 ~ - 68 . .. - .... 60 - 65 65 - 65 69 - 70 75 - 88 81 - 83 81½- 82¼ Del. M. & l'Uarq.-lst .. 6 40 - 40 40½- 40x: .. . . - .. .. .... - .... . ... - .... . ... - .... .. .. - . . . . ... - •....... - ....... - . . ..•... - .... 54½- 54¼ E. Teno. v.& G.-tst .. 7 115 -115 ... - •... *108-118 •ui, -115 .... - ... ..... - ........ - ....... - .... 115 -116 118 -118 118 -118 120 -120 Consol.. ..... ............ ::; 44 - 47½ 46J,i(- 49½ 47½- 49½ 44¼- 48 44½- 48 46½- 48¾ 48¼- 52¾ 51¼- 67½ 56¾- 60 58¾- 64~~ 62¼- 68½ 64¼- 71½ C.!onsol.,ex-coup.9to12 ... . - . . . . . . - ........ - . .. . ... - . . . . .... - ........ - ........ - .. . . 51½- 52}( 52 - 57 55½- 59 57½- 68 Divisio11al. ... . . .. li 90 - 90 .... - .... *ll2 - 92 *92 - 92 *93 - 95 ... . - ... ..... - ........ - ..... ... - .. .. 96¾- 96½ ..•. - ..... ... - •••• I n<"ome ................. . 6 10 - 13 113-9- 13!'( 11½- 18¾ 10 - 12 IO¾- 11½ 10¼- 11¾ IO¼- 14½ 14½- 18¾ 16}4- 19 17¼- 2l¾ 19 - 28½ 19!'(- 22½ Eliz.C.&N.-lst,1920.6 .... - ........ - ........ - .... . .. - ... . .... - ........ - ........ - .... 60 - 60 . ... . . .. - ........ - . .. . .... - ... . Eliz. Lex. & Big. S .. .. 6 84 - 90 85¼- 00 88 - IJO 84 - 88 85 - 86 84 - 8tl¼ 84 - 89 89 - 89 86½- lll 92 - 95 94¾- 96½ 96½-100~ Erie- 1st, Extended . ... 7 128 -128 . ... - ... i23¼-124 125 -126 .... - •... 124 -125 124½-124¾ .... - .... ...• - .... 126¼-1~6¾ 124 -125¾ 125½-127¼ ~d, Ext ........... ...... li 107¼-108 108 -109¼ 107¾-107¼ 108¼-103¼ 109 -109 .... - ... ... .. - •.. . .... - ........ - . . . . . .. - . . . . . . . - .... 112 -112 3d Ext . .. . .......... . 4½ 108¾- 104 104 -104 102 -102½ 102 -lu3J,i( 108½-104¾ .... - ... . 106 -106½ 106¾-106¾ 105 -106 ]04½-105¾ 105 -106 106J,i(-107 4th, Ext ... . ............ . l, 105~-105½ ... - .•.• 107½-109 105¼-105¼ 108 -108 . . .. - ... . ... - .... 110¾-ll°'-' 112½-112½ 110 - 110 110 -111½ 110¼-lll¼ 15th, 1888 .. .... . .... ... 7 107 -107 ..•. - ..• . . .. - •... 108 -108 110 -110 . ... - .... 106~-107½ 109 -1011 - ... . .... - .... 109½-10912 107¼-107½ 1st, coosol., gold .. .... 7 116½- 120 Ill -117% 11~-114 112~-114¾ 112½-114" 112 -115~ 115½-121½ 121¾-125½ 121 -128 128 -127 126¾-128 127 -128 1st consol. fd. coup ... '7 ll4 -116¾ ... . - .•. 118 -118 .... - ... . 109 -lOIJ .... - ..•. .... - .. .. 116 -116 118 -118 116 -120 122 -122 ...• - ...• Lonir Dock .............. 1 118½-113½ 115 -115 116 -116 116 -117 1!6 -117 • . - •......• - •....... - ••.. 119 -120 120 -120 120 -120 116½-117½ Buff. N. Y. &E.-lst.7 180 -180 ••.. - •••. 129 -129 128 -128 ...• - •.••.... - .. . . .• - ..•..... - ..•. ... - .••...• - .... 184 -184 .... - •.• N.Y. L. E.& W.New. 2d consol.. .... 6 58 - 59¼ 51 - 583,t 58%- 57¾ 52½- 56¼ 45¾- 54½ 45¼- 58J,,( 49!,:(- 68¾ 61hr 69" 62%- 71¾ 69¼- 84¾ 8 ~ 90½ 84¼- 92 Col. r1·ust. 1922 ..... 6 .... - . . . . . .. - ........ - . .. ..... - .. . .... - ........ - ........ - ........ - ........ - ........ - .. .. 100 -101 ••.• - ..• Inco1oe ............ ... 6 .... - . ... . ... - ....... . - ........ - ... . . . . - ... ..... - ... . ... - .... 87 - 87 40 - 41 41 - 48 .... - •....•.• - •.•• Erie&Pittsb.-Consol.1108 -108 ••• - ••• .. ... - ....... - ....... - .•...••• - ....•..• - ........ - •...•... - .•...... - ........ - •••.. •.• - . . • 1i:v. & T. Haute-Coo .. 8 96½- 98 ~-102 102~-104½ 108¼-105 105 -106 106~-108¼ 105½-107¾ 108 -109 109 -109¾ 110 -112 118 -118 113 -114 tllt. Vernon-1st ....... 6 .. - .... 11.. - 95 Q4 - -n ~ - 94 IJ5 - 95 95 ~ 96 - 9'1 97¼- 98 99 - b£'.¼i 97¼-100 100 -105 10a -10/3¼  ~::::;i~:~~~  98 : 84 ..  :!~= :~ ·ilsi94¾ ·037,,; 95.. :¼:: ·~: 00~ ·9~ 98½ ·i;~ 98.. ·97: 00¾ ·~-100¼ io1l4'.:102¾I!:~!~  1  -------------' -• Coupon - - off, 9   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  _ _.;.... ____,.1-_ , . - .  '--------'--~--  ---·- ·---  66  .RAILROAD ROJVIJ!!.,  0  JANUARY, FEBR'RY.l MARCH.  BOND~ _  APRIL.  MAY.  JUNE.  I:  JULY.  ' A UG'UM'. SEPT"llER. OCTOO!ER. NOT'DER. f DEC"BF.R'~  t.ow.Htgil Low.High Low.High Low.High~~-;;; ],ow.High Low.High Low.High Low.High Low.High Low.High !~ ; ;  Flint & P. M.-lllort ... 6 114 -ll5hi 114 -116 - •... 118 -118 114 -114 . ... - ....•... - .... ·111 -ID.4!J,! •... - . . .. 118 -113 - •. - .... 115 -116½Fr. W.& Df'nv.C.-tst .6 62 - 65 62 - 6S 63 - 65¾ &4 - 65 64 - 69¼ 453 - 00 79 - 71 , 71%- 78 74.'.¼- 89¼ 79¼- 83¾ 83 - 00 8 - 86¾ Gal'.H.&H.-of,.-S'l .. . . ~ .... - ........ - ........ 5H -53 .... - ....•.•. - ... . 64 -56¼ •.•. - ....... - ... . 66 -66 66 -66 · Go.I. H. & Sau A..-J 8t . .6 102 -102' 9$¾-100 98½-100 og - 00¾ 97 - 99¼ 102 -108¾ 102¾-107¼ 103'1k106 106 -100½ 105 -106 105¼-Ir.6 2o, JDOJ't ................ . 7' .... - .. 10!!1(-101~ 119%- 99¾ .• •• - ... . Ut1s- 119 •••. - ... . 100 -1W •··~· - .. .... •. - ... 102 -192 105 -105 Western Dfv-bt .a 91 - 91¾ 91½- 92 01¾- 92 91¾- i2¾ 807k 90¾ DO¾- 00¾ ~O¼- 111:n Of - 92>2 92¾- 92¾ !>2¾- i8¼ 07k 91¾ fn¾'- W. 2d . . • . • . . . • • . • . • . • . .6 . . .. SO - 81 Sl - 81¼ Gr.Rap.& Tncl.-Gunr'7 .... - .... 119¼-119.J.;i •.•• Gr.B.W.&St. P.-ht .. 6 74 - 74 58 - 60 60 - 60 ••.. - •.•. 65 - 72¾ Ti - 72 67 - 71¼ 70 - 'iS 72 - 72 : 74 - 80 76½- 78 -·· · _ 2cl, ineome- ... ........... S 8 - 8 t2 - 12 14 - f6 18' - Io½ ••.. 15 - 18 ► 17¼- 25 18 - 19 1 18 - ~1 2{)9i- 31 22 - 00 Golt Col.&S. F.-litt .. '7 l0S -110 105 -107½ 104 -106¼ 10-1 -108 101 -104 lM -105 108 -110 10ff¼- fI2 110¾-112" 111¾-115¾ 1'15 -116 115 -120 2d, 19~3 . . .. . . . . . ... . 6 · · · · 79 - SO 7 ½- s.~ 84 - 89 · - . . . . ~ 82 - 8S H'an. & Sc• .Je.-ColfV. 8108¾-103¾ 103¾-103¾ .••• CoDf•PI . .. 6 tl<l¾-115¼ 115 -118% 115 -115¼ 115).fr-115¾ llfl -117J.i.117¾-118¾ 115%-118½ n ~ n 9 115 -ll6 116¼-117 117 -117½ 117 -118~ Hen. Brfd1r-c Co.-1st ... 6 .... - ........ - ... ..... - ........ - .... 104½-Hla 105¼-106 Hous. F.&:W.T.-lst .7' .... - ···· .... - ........ - .... 95 - t6 . .•. - .... .... - ...... .. - .. . . . ... - . . . . 84%· 84½ •... - ·· ·1 ffgus,& T.C.-1st.M.L.7 85 -too •8SJ¼- 98½ *Si - g, ¾ *85 - 87M * 87 - 95 •oo - W •94¼- 97½ *95¼-100 *98 -:WO½ 1"ffl> -IOO >tg9¾-lOS: .r,u, WPstern Dh· . .... 7 'i8 - 95 "80 - 82 *70¼- 76¼ ~g - -;5 "'78¾- 75¾ *75½- 86 ..83¾- 8-7 *87¾- 91 •s~- 94¾ *92 - Sl4¾ *Sl4 - M~.{ "'04¾-1()()1 w. & N. Div .... . . . .. .. '7 823<- 88¾ .... •w - 78¾ .. . . *95 - Q5 *94¼- 96 *9a - oo 2d. Main LiBe . ...... .. 8 68 -111 70 - 75 57¼- 71 - . ••. 58½66 - 56 ..•. 66 - 78 7'i'n,- 78 7,7 - SO 77 - 81 89 - 89½ G'eneraf mort . .... .. ... 6 .... - .... ·· - .... 54l - 50¾ 52 - 52 69%- SO 58¾- 59¾ C'>8 - 58 Illinois Cent1·11lSprimd. Div., 1898 . . 6 · · · · - · ·· · · .. · . .. . . . . - .... 114 -114 119 -llt> lli¼-119¾ ll~-111'.l¼  {;;~t~~:.~~-~~~~~. .~:: ~~~'=12'.!½ 12~-121  121¾-121¼ 125 -126  12'4 -125  •••• - ••.. 125 =!~: . .  Gold.... . ...... .... . :i 104 -105¾ 106 -107 107 -llO 1()9¾-112½ Il0¼-111 111 -Ill 111 -US D11buq.& S.City~d . . 111~-118¼ ·· · · - ·· · ·· - · ··· ···· - ···· 118 -ll8 ···· CedarF.&M.,lst .. . 7116 -116 115 -116 ...• - .... 115 -116 115¾-116 Il6½-1I8 IlS¼-115 Ind.Bl .&W.-ls~p1•ef.'1 .. .. 1Stp 1909" . . . ...... .. 5 , 6 78 - 78 74~- 74½ 74 - 75 72¼;- ~ 71:kj- 73 67 - 68 59 - 60 2d, 190!1. ......... . . ~,. 6 55 - 55 55 - 5:'i 54 - 54 •.. - . . ••.. 51 • 51 Eastet•n Dh· ............ 6 78 - 80 77 - 77 75 - i5 75 - 75 TJ~- 72¾ 68 - 68 C'on. income.... . ... . .. 6 25 - 25 l5 - 15¾ 15 - 15¾ .... - ... . . .• 15 - 15 Ind. Dee. & Sp.-1 st ... . 1 101 -100¼ 99¾-101 82¼- 93¼ 85 - &>¼ 85¼- 87 87 - 87 87 - 8S 1st, ex tundccl coupon. •• • • 51 - 81 !td income........ . . ... . . 20½- 2mv .... - .. .. 18 - 18 .. . . - ........ - .... Intern. & Gt.,Norfst.6105 -107¼ 105 -106 11)5 -106¼ 105¾-108 100 -107 10-t¾-106 101 -112 1 IJoupon, 1909 ... . ...... 6 64½- 7S G6 - 70 66¾- 70 65¾- 68¾ 64 - 66 65 =6.7.~ •. ,· .6 ..7.¼= 77 1ron St'mb'te'o.,1901.6 •··· - •· ·· •··· J etferson-1 st .... ... .... 1 . . . 00 -100 99'7Ai · 9g7A\ .... . . •. •. .. - . . . . Kent. Central-Mort .. 6 •··· - •··· . ... · . ...... . - .... 11 79 - ~ 1. 9 11. stamped ........ 4 65¼- 65¼ M - 65½ 64lJ;!- 65¾ 63 - 63 68 - 6~ Lake Erie & W.-tst .. 6 80 - SS 80 - 83 88¾· 86¼ 65 - 82 65 - 66½ 6e - 70 70 - 74 Income............... . "I 20 - 22 20 - 25 25 - 25 14 - 14 IS - 14 14 - 14 14 - 15 !i-audusky Div . .. .. .... 6 . . • • 75 - 75 Sandusky Div.-lne .. ... .. T,o.t. Bl. & i.U.-lst .... 6 .... - . . . . 78½- 85  84½- 87  1 ~  =!i!.  . ... ~~½=124  I ~~~  ~126  112¾-113½ 113 -118~ 111¾-TI~ 110 -111¼ I 118½,114 118 -114 US¼-115 114 =1i·5···1_i·:·4· =115 - . . .. 12.1 -121 6 - 81½ ';.5 - 82½ 76 - 84 84 - 00)4 90¾- 00: 50 - 5g 58 - 69½ 62½- S7¼ 73 - 7S 77 - so, 68 - 72 76 - 76¾ i8 - 86 l'O - 94 90 - 00: ~ - 1g½ lS - 1/3¾ 19¼- 29½ 27¼- 39 82 - S& 87 - !H flO - 92 ll2 - 95 og - 99 00 -100 88' - 8S 85 - 85 94 - g4 18 - JS¾ .... 22 - 2Z 28¼- 20 lll¼-112 114 -114¼ 115 -115 1T2¾- t'14¼ llS¾-114 t-1%- e4 81 - 841 79 - SO 78 - 78 77¾- 81 - •··· 71¼- ',2 . •• - ... . •. •. - .... lOl½-Hllxi .... - ... . .... - .. ··•.• . - .•.. •. .. - ... .• ... - .... •... - .. ••. • _ ... . 1>7½- 6S ij7½- 73½ 70 - 72% 'm¼- 82 Sl¾-- 83 62 - 86 82 - 90 RS¾- 90 16¾- 22 21 - 23 2~ - 25 2~ - 31 28 - 32 60 - 65 72 - ?2 76 - ~ ae - 8%' M - 8.f 82¾- F3¼ 10 - 10 . •.. - .......• 20 - 22 20¼- 25 25 - 28 21 - 28 65 - 87 66 - 68 68¼- 68¾ 70 - 78¼ 75 - 84½ Sl - 83 !:S4 - 87¾ 83¼- 91 88¼- 110 14 - 1~ ...• 25 - 25 .... 2S - 27 24¼- S.J¾ so - SO¼  lneome· .. . 1 .... 28 - 28 I.tt'ke Shore & M. So.M. s. & N. I. Sk1r. fcl..'7 102 -102½ 102¾-102'7A\ 1027/4-108¾ 10$¼-103¾ .... elev.& Tol.-S. (und.'7 101¾-102 102¼-102¼ 102¾-102½ 102½-102¾ lOS New.... . .......... . 7 104¾-104¾1105¾-105¾ lOf>¾-1065,.f 102¾-IOS 108 CI.Pains.&Ash ..... .1115½-115¾1.18 -118 ..•• - ....... - .... 114 Jluff. & Erie-New .... "/ 119).fr-120¾ l2S -123 124¾-125 111%-121¼ ..20 Kaf.& w. -P.- tst . .. . 7 - •··· .... - ........ - ........ - . .......  ~~~:!~.!C:i~!·.i::; 1st eon.~ eeup ....... . 7'  8.. ii!  =ri 118 lll¾--113  -108 -103~ -114 -122  lOS¼-103¼ 10~-103¾ ...• 122 -122 - ... . l0t -104  .... 105 -105 - . .. . - .. .. .. - .. ..... 121 -123¼ 122¼-128¾ 1.2S¾-W ¼ 1 ••.• - .... 100¾-1~108· -108  101%-101¾ 101%-10 1¾ 101¾-l!:l ~ l15 - 115 111:~- 11~}{,117¼- l l ~ 12, ¾-1t20¾ .... - ... . 122}(-122!4. .•. - . .. . !... •... - .. .  =~~ •• 12·{¾=122·· i2·s =124 .. i2·; =1zi .. ,iii~=12i .. ···· = :~:: izz :122 .. i22½=Izi¾I:::: = :::· ;20 =12~ "1-··· = .::· :::: = ::·: 1  126 -126  .. . . • •••. 127 -128  128¾-1~¾ 120 -129¾ 1211¾-130  127 -128  128 -128¾ 12$½-129  28¼-12~¾ 12~ -129¾; 13 • -130¾,  1st eon., rea ....... .. 1125 -125¾ 126 -128 126 -128 125¼-126 125¾-129 125 -128 125 -127½ 127 - 128 1127 -128¼ ... . - ... . . 127 - 128 ~d eon., eeup ......... 1115 -115¾ 115 -115¼ 115 -116 115¼-116 1157,(-116 1T2¾-11S 118¾-118½ ll81A1-119 1I7¼-ll&}.i 1~-121 120 - 121¾ 117¾-120 2,1 eon •• re 11 • • •• • • ••• 1115 -115¾ 115¼-115¾ 114¼-115 U5½ -Hfi¾ 115 -115¾ ll2 -112:},,i 112¾-115¾ .... - ... . 118%-118-¾ llS¼-120¾ 120¼· 1<0¼ :18 -119¼ Lon1r Island-tst ........ 7 .. . . - .... 123 -123 •.. - . . . 122 -122 120 -120 .... - ........ - ........ - ........ - . . 12~ -12" 122 -122½ 122¼-122xi, 1st. eon sol.. .. ........ ~ 102 -104¼ 104½-105 105¼-106 104¾-104:J:( 106½-107 107½-107½ 107¾-110 105 -108 107 -107 108 -108 108 -189 108 -100 Louisv.&N.-Consol. .. '7 115>2-ll'i¾ ll7 -J.18¼ 118 -119 116½-117 !17¾-121 121 -121 121¾-123½ 123 -124¾ 124¾--124¼ h0¾-122¾ 122¾-122¾ 122¾-123Ceeilian Brn.ne·h ...... 7 .... - ... . .... 96 -100 98 - 9S Sl8 -!00 101 -101 - .... 100 -101 101¼-102 .... - ... . .... - . ... • N. O. Mob. & T.-lst .6 69 - 71} 72¼- 81 SO - 82 79¼- 82 82 - OS 93%,- 97 94 - 95¼ 95 - g~ 95¾- 98 il7½- SIQ¾ 00½ 102½ 101¾-10524 ....................... 6 . . . . - . . 60 - 67¼ 6d¼- 68½ . . • . - • • . . 68 - 75 73 - 80 . . . . - . . . . 80 - F4 7ti - 85 1 84¼- 88¾ 56 - 88½ 87 - ~3"· E. B. & Nn.sl'l.-tst ... 6 99¾-100 102 -102 106 -106 106 -106¼ 106¼-110 106 -108 :107½-IlO ao -110¼ 110)4-119¾,llG¼-lll¼ 115 -lll:i½ 110 -112: Gen'I inort ... .......... . 6 79 - 84 83¾- 00 83¾- 90 90 - 90¼ PO -100¼ \16¾- 98¼ 98 -101~,i 10l¼- 10S¼ 102~-103¼ 101½-193 102 -106 102 -105 1 Pem1n.eola Div.... . U •.•• - • . . ...• - •••. 83-¼- 90 90 - 90 . ... - . ... 94 - 94 91 - 91 98¾- ij1 St. Louis Dlv.-tst ... 6 .... - . . . 102 -102 .... 107 -107 108 -103 10~ -105 St. Louis Dlv.-261 ... 3 .... 48 - 48 45 - 45 ..... 53 - 58 50½- 5-1½ 50¾- «I¼ M¾- 55 G2 - 5:2~ Nash. & Deeatar...... 1114 -114 .... llb¾-116½ ·· ... . 117½-U 7¼ ... So.&No.Afo.-t-.F.6••·· 89 -00 ···· '.frost lrnnds . .. ........ 6 7'.l - 75 73%- 84 80 - 82¾ 80 - 82 62 - O'..?¼ fH - 95¾ 94¾- 95¼ 05¾- 98 94-'4- 95¾ ll5• - 97¾ 9fi¾-100 97 -100' Ten-Forty, i9Z4 ..... 6 62 - 62¼ 65¼- 68 60 - 00 6~ 78 76 - 81 81:},,i- 84 86 - 00½ . .. - .... 89 - 00 86½- 89¼ .... Pensae. & Atl.-lst .. 6 .... 86¾· 87 84 - MS¼ Lou. N • Alb. & C.-tst.6 90 - 9'l 89 - P4 98¾-100 98" - 07 05 - 96 00 - tl5 90 - 9.l 00 - 97 95 - 00 95 -iro W -100½ WO -105 Louisv .. N.O.&T..-bl.~ 87 - 87½ 87¾- 89 87 - 89¼ 90 - 90¾ 90 - 90¾ 00 - Q{P,4 OOM- 91½ 9'1~- 921<, 9~ OO··¼·· l·g··O·¼= go.~ 90¼= ~ Ya ¾~ ~,~~ 77 7 Man.B.Jmp. Co .-Lim.1 •· - •· • 77 - 78¾ •· ·· - •· · • •••• - •••• .. . . •• ., Iflemp. & CIJRA'!.-T.L.. 7 .... - .. . ... . . - ... . .. - ... . 116 -117 HS -118 .... - . . ..... . lUtitropolitall El..-lst .. ti 105¼-107 10~ no 108 -110 107 -109¾ 108¼-•llS lll~-1127/4 109¼-114 113 -11~ ns -114½ 114¼-116¼ 116 -117½ 111' -118 2d, 1899 .... ........ .. . 6 92 - 94 92¾- li7 117 - 9S 96¾- ~¼ 95¼-101¾ 99¼-101¼ IOI -108¾1103 -104 10~-106¾ 1061,(-lOQ llW -108 107 -109' Mex. Cent.-1st. ex e_..,- .... - .... - ... 115¼- 58¾ ·.··· - ... 52>4- 52;~ .... - .... 4S¼- 44 39~- ~ I 42%- 48¼ 47 - 51¼ 41> - 53 Mieh. Cent-lat.eonsol.1 124 -125 125½-J2i¾ 127¼·128¾ 126 -128 123 -12~ 124 -125 124 -126 124½-126 127 -128 129 -131¼ 127¾-127¾ 126¾-128¼ 1 t 8t, eom,ol ...... ~ 104 -!05 105 -105 - .... 104¾-106¼ IO'i¾-108½ 108 -108 110 -110 - .... 100¾-109¾'Ioe -107 1()8 -108 Coupon, 1931 .......... ~ 98¾- 99 .••• - . •.. 100 -100¾ ..•. - •••. .100 -100 100 -101 100 -100 :100 -106 1105 -106 Jf)fl -108 Rea-istei•ed, 1931 . . . . . ~ ... - ... . .... - . . 100 - 106% 1104¼-106 1€)4¾-106¼ Jack. L. & Sag,, '91.6 .... - . . . . .... . ... . . . . - . . . . 10(%.-106¾ 107½-107¾ • • •• - • • • • Mid. of N.J..-ht ........ 6 'iO¼- 7t 71 - 72½ 80 - 84 78 - 85½ Sf - 85½ 82 - 85% ss· - 90 b9?~- 96 94. - 95 ; \12 - g~ 95¾- Hl& 98¾·103  1  !,0  =  I  MU. L. Sh. &W.-lst .. 6 Income ... .............. . 6 Miebignn Dh- ..•.....•. 6 Mil. & No.-lst ..... ... . 6 ffUnneap.& St.L.-lst. ,Iowa Exten8ion . ..... '7 ~d, 1891 ...... ......... 1 So.West.Exten.-1st.7 Paeifie Ext ........ . .. ... 6 Mo.K.&'11.-Gen. con . . 6 Gen. eon sol. ............ 5 Consol ........... , ....... 7 2d, ineome .... . ...... . . . 6   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  98½=1~  •···  96 - 00  l~l~~ :~ ;,z na 97¾- 00  I  =l~~. ,~~~=1~5 ..  ... ... - ....  ~~~=I~~ . . ~~=l~~.  99½-101 . .. . 100½-l~ 100%-10~ 90 - 00 - .. . . 90 - 00 ...• .... - ... 121¼-121½ - .... 123 -124 116¼-116¾ 115 -116 115 -118¼ 117 -117 100 -100 . •• - •... 100 -100 ..• - .• . .  ~~~=104 ,~~½-105¾ 1~=1~~ 1: =l~  97~- 97¾[ 99 -100 - .... .... - ........ - .. - . . .. . •. - . . . . W - In 119 -119¾ 119¾-122¾ 123 -123 1· ... - .... 12S -123 118 -113 116¾-116¾ .... = . •• • . . . . - . ... .... - ........ - .... . .. . . . .. . . . .... - .. . .... .... 112½-112¾ •••. .... - .... l08M-l03¼ 108¾-104 - .... 105 -105 64 - 68¾ 6S - '.O 68 - 72 70 - 77 74¾- 78 70¼- 75¼ 74¾- 78!¼ 77 - SS82½- 85 4 ~ ~ 50¼- 55 5~- MU 54¾- 61 5$.(- m¾ 57¾- 61 601¼- 65 64¾- 72 70¾- 72 100 -105¾ 99¾-103 108 -105'4 104!}.(-107½ lOOl/li-109 107 -109¼ 198¾-115 1()9¾-111~ UO -111¾ . ... 75 - 71> fY1 - 1>7 60 - 60 ... - ••...••• - •.... . . . - ...  * Coupon off.  I  ·r  102 - 107 94½- gg 130 -130 Il!Q, - 1 O 100- -IOO llS½-118  1: ~1;! 1~ =l~~ 11-8¼· 110¾ gs -100 1130 -180¾ .... - .... 102 -104 118 ·U8  . ... - .. . . g?¾- 98 .... - . ... 120 -120 . .. . - . ..•• ..•• - .. . .  89'1k ~ 88¼- 94!,4 75 - SO 'i4'v- 7\J~ 110¾-112¾ 112 -118 118¼-115.~ SU¾- &~ 84¾- go  'iO¾- 76  RAILROAD BONDS.  67  ·1 88:i-Continued. ;JANUARY' FEBU'RY.  B9NDS..  M.ARCH.  I  A:PR,?L.  MA.V.  JUNE.  JULY.  AUGUST, REPT'BER. OC'a'0BER.  -- - - - -·- - - - - - - - - - - - - - -  -------  NOV'BJCH-.  -  DEC'BER.  • Low. ffigh Low-High' Low.High Low.mg~ Low- Hlirh I.ow.High Low.H igh Low.R1gh Low.High Low.High Low.High Low.High  --  Mo. Kans. & Tex.Han.. & C. Me.-lst .. '1 .... ... ' .... ... .... - .... .. .... ... . .. - ... 108 -108 107½-10'9 108 -108 .... . - . 107¾-1'08 Mobile & Ohio-New .. 6 roo --104 1-94 -1-04 106 -1-08¼ W6½-1017 1-00¼-106¾ 1~½-100 107 -lOS¼ 167%-108 108 -109 110 -111½ Ul¼-11.2 .... - ..... .... .... .... - .... .... .... .... Collat. 'l'rw.st ........ .. 6 ... . .. - ... . .... ... .. - ... 100 -101½ . .. . ... . .... ... . - .... ·••· .... .... ····· ..... - ....... . ... .... ... - .... .... 1st, exten., 192'7 ... ...ii ..... - .... 100 -101 101 -102½ 100½-lUl 55 - 00 1st pret. clebentn re . .. 7 55 - -05 fi7½- 57½ 51 - -51 ' ....... 40½50¼ 55 -M 56 - 56 60!,(- 64¼ 64 - '66½ tl2 - 66 58½ - 61 2d pref. debentu1·e .... 7 .... - ....-. . .,..,~ .... .... .... - ...... ... - ·•• · 2 ½- 22¾ 25 - 84½ 82½- 34~ 34 - S8 37 - 42 88 - ~1 .... .... ........ ..... ...... ...... ... ..... . ..... - .... .... . ... .... - .... .... - .... so - ss ss - 37 83 - ss '3d pref. debeuture .... 7 .... 4th pref. debenture .. 7 .... ... . ... - . ... .... ' ... - ... . .... '25 - 26 so - -s1 81 - Sl ss - ss ··~ .... ..... .... - .... .... 1'lorgan's L. & T.-1l!lt.-fi .... .... . ... .. ... - ....... .... lOQ¾--100¾ 100 -105% 105!1:{-106 106 -107:J( ···- .... .... .... - . .. .... .... . ltlutnal Union T--S.F .6 66½- 69¾ 69 - 60¾ fl9 - 76 -@9 -171 68¼- 6~ 00 - 70¾ 70 - 75 75 - 79 Sl - 86¼ 81) - 88¾ 79 - 81 77¾- 131 Nasbv.C.& St.L.-tst.-,- 116½-118 U7 --U7½ ~l~k-t.18¼ 118¾-120¼ -120~-'121½ 121½-122 110½-120 121¾-128 122 -122¼ lW½-125 125 -126 125½-12~ ...... .... .... ,?ew J. Sonth.-Guar .. 6 .... . ... .... 85 - 85 75 - 75 .... - . ... .... - .... .... - . .... - .... .... .... ...... 68 - 60 55 - 62 54¾- 55½ 52 - 55 50½- 55 50½- 57¾ 58 - 65 65 - 68 159 - 65!1( 60¾- -67½ 49 - 65¼ N.O.Pacific-lst, ex cp.6 .... 102¾-108½ lOS¼-105 104½-106 l'i.Y. ('entral-Extend . ~ 104½-105½ 104½-103½ lOfl½-106½ 106¼-106½ 106 -106¾ 106 -107¾ 103½-105 104 -105¾ 104~-105¾ .... t05½-1-05½ iO(>¾-l-05¾ 106½-106½-i-06¾-106¾ 1'06 -lll6 .... . ... 106¾-107½ 106½-107¼ 107 -107¼ 108%-104¼ 1SS7 .......... ... ........ 6 184 -1-05 .... N. Y. C.& H.-lst,cp .. 7 129 -184 132½-l'SS¾ 1.3!)¾-135 184 -135¾ 18/S -136¼ 136¼-187¼ 183¾-184¾ 183 -184 133¾-186½ :86 -187 18611:(-188 187½-1881,§ 1st, reir .......... ... • • •7 120 -130!1! 1Z2 '-,i-138!1:( 138!,!J-1S4¾ 134 -184¾ 134½-100 155 -1861.,( 183¾-184½ 134 -184 188¾-134¾ 185¾-186½ 186½-187 138½-188 Debentu'l"e . .......... ~ 102¼-183 iOS¾-104½ 11.01½-102½ 1021,,(- 1'02½ 168 -104¼ 10-!¾-105 104½-106 105½-106½ 103¾-1'06 105 -106¾ 10f)¾-106xi 106¾-lOli ...... 102¾-102¼ 102¾-103 ..... .... llu,1. IUv.--~d, s. fd .t' 101½-10!¾· .... ..... . ...... .... .... .... .... - .... .... . .... . 96 - -08¾ 08 - tl0'¼ 96¾'- 0R% 96 - Q8¼ 1l8 -100 'Can. So.-1-st, guar .... ;l 96 - 97 99 ,tl-100¼ 09:J.(-101¾ 101 -108½ 102%-104 lOS;J(-109 96¼-100 2dmort ...... . . .:} 69 - 70 60 - 75 ,0 - 72½ 65 - 70 66 - 70 67½- 69¼ 69 - 79 77½- 79¾ ';'6 - 78 77 - 85 82~- 85½ 88 -~7 Harlem-1st, coep .... 7 Ul4 -184 182¼-188½ !84}4-185½ 185 -185 188 -138 .... 187 -140 187¼-188!,,( 137 -188 ... - .... 188 -188 185 -188½ 1st, reg .............. ,- l'l9½-480½' 182 -132 185 -185¼ 1.85¼-185¼ 1S2½-183½ 185¼-185½, 137 -187¼ 186 -136 136!,,(-187¼ 137 -188½ 138 -188 188 -186 78 92 89"92½ 75¼99¼ N. Y.Chic.&St.. L.-lst .6 66 - 'i7 'i'4 - 00~ 78¾- 88¼ 76½- 81 78¼- 00 86¼- 92¼ 89¾- 09 '6tl - 78¾ 76 - 84 51 • 51 .... .... .... .... .... 2d, t 923 . .. .. ........... :ti 56 - o6 .... .. 45 - 45 45¼- 49½ .. - . ... 49 - 59 59 - 65 tlO¼- 66½ -10 - 40 41¼- 47 N. Y.City & No.~GeR'l:6 aa - 85½ 84 - 85 85¼- 87¾ 85¾- 40 45¾- 46½ 45 - 55½ 56 - '60 M - 57 897/4- 40¼ 88~- 41 "8¼- 85¼ 35 -'87 85½- 40 00½- 40 'l'rnst Co. receipts ...... ' SS½- 85 89 - 40 54 - 58 00¼- 40¼ 40¼- 4'6½ 45¼ 46¼ 45 - 56½ 56¼- 60 N. V. Elevated-1st .....?' H.4 -1117 117 -1191', 117 -120½ ll8 -lUl½ 119 -121¾ 121½-124½ 121 -123 121½-123 121½-128 124½-127 125½-127 124½-127 -108 lH -1'1.l i04 H4 -114 *21¼-128 *124 ll-0½-111 117 -125 N.Y.& N.Enir.-lst .....'7 .... *18¾-120¼ -117½ U7½-117¼ 116 -117½ .... ...... 1.00 -1-01¼ .... l05½-107 1st, 190.l ........... .. '6 .... .... .... - .... ... - .... .... - .... ~0¾-110¾ .... - .... *118 -114 .... . 109 -109 ·109 -109¾ 'N. Y .N.H.&H.-1st,rir.4 105 -108 .... . 188 -UO 111¼-111¼ 111 -111 111 -HI% 111½-111½ . ... .... .... - . ..... .... *59½- 60½ .... ... *57½- 57½ *65 - 70 *68 - 70 *70 - 76¾ *75 - 79}4 *78 - 84 N. Y. Sasq.&W.-lst .. :6 .... -· *50 - 56½ 1'56 - fi6 .... ..... .... ... .... ·••' ••·· - ... .... . .. .. .... - . ... . ... Debenture, 1891' ......'6 .... .... *42½- 42½ *47¼- 55 "'54¾- 58~ *56 _ ,59 .... . ... N. V .& Tex. Laud-Scrip ... - ... 50 - ·155 .... .... ... .... - ... . .... - ... 60 - 60 57 - 67 ... - .... -·· N. Y. W,Sh..&B..-lst . ..•~ S3¾- 00¼ 88 - 87¼ SO¾- 96¾ 28½-1H 28%- 81¾ SO¾- 88½ 34½- 44½ 41¾- 48¾ 41¾- 44¼ 42¼:- «¼ i!S½- 44¾ .... - .... 83¼- 85½ 2Q¼- 85 1st, reg .................. ~ M¾- 84 28¼- so 20 - so 81 - 87% 88%- 43)4 41¾-43¾ 42¼- 44 42¾- 43¾ .... - .... . .. .... .... .... .... .... . .... .... ... .... .... .... 48¼- 45 44%- 46½ 45 - 4fl¼ 4'5¾- Tm.Ji Tru..it Co.1·ecelptl!I ...... .... - . ... ·••· 97 -HJS 100 -102 102 -103½ No1·t.& West.-Gen. M .ti 92 - 00¾ 03 - 01 86¼- 89 86½- 89 90 - 97¾ tl9 - 09 9-1%- 95½ 90 - 96 86¾- 00 . ... .. ... New River-1st ....... 6 04 - 94 . .. . - .... . ... - . 05 - ~5 94 -94 00 -100 09 - 09¼ 57 -~1¾ 59 - 152¾ 59¾- 62 .... Obto Cent-rnl-1st ....... 6 56 - 00 .... .... .... .... - .... .... .... .... .... .... - .... .... - .... .... - .... 4 5 5 4 . Income ........ .... ... -7 5 . .... .... . ... 2 - 8 2 - 2½ 2 - 8 8 - 8 - . ... Ohio & Miss. Con.s. l .. '7 117¾- il7~ 117 -U79'( 116¼-1?6½ tl5½-H7 117¼-118 11~118¾ 117 -11'7¾ .... - . ... 122 -122 1122 -128½ 122 -128½ 128 -128 -122 ••• 117 -117¼ -123½ 117 -122 123 -12l% Consol. ........... -~ .... - 7 llt1¼-ll7½ 116½-118½ 117 -117 .... ..... 118½-11'9 118¼-'119 120 -120 2d, conso1 .. .........••. ,- U8½-118~ 108 -111 108½-110 109 -11 1 109!':(-110 .... 100 -109 118 -118 112 -118 109½-111 lll½-115 118 -1'1.4 lOO -1'00¾ 100 -10Q¾ \18½-100 1st, Sprin(lf. Div .... .. , .... \IS - 98 ... .... - .... .... ··•· .... - .... 90 -100 98½- Y7 . .. . . ... .... - .... .... - . ... .... .... .... .... .... - .. .... ... .... - ... 75 - 70 74 - 74 81 - '81 '78 - 79½ -General, 1932 .......~ .... 87¾- 89 89 -IM½ 06 -100).g 97 -100 87½- 88 Ohio Southern-1.st .... . 6 82¾- -84½ 84¼- 00 89 - 89½ 8Q¾- 89¾ 89¾- 90 86¾- 87 86 - 89 21¾2-2~ 20½- 24¼ 23½- 2-1~ 28 -24¾ 2! - 22½ 20 - 20;1.( 21¼- 22 22 - 25 28½- 84 86 - 4J.~ 21½- 28 2d, income ...... ....... . 6 81½- 48 Or. R'y. & Nav.-1st .. :6 L00¼-1.07¾ 1-07¾-109¾ 100¼-111 111 -112½ 111¾-112¾ 112¾-118 110¾-112¼ 112¼-118~ 112¾-114 114¼-115¾ lll½-115 112 -114~ .... .... .... .... - ••. 100¾-100¾ 103 -108 108¾-108¾ ... .. . .... - .... .... . ... . ... - . ... . ... .... .... .... Debentures, 1887 ....-, .... ':'4½- 80 82 - 84 80½- 88 88¾-- 91½ 00¾- 95¾ 00 - 02¾ 80 - 81¾ 80 - 83 77 - 79 ()reir. Imp. Co.-lst .. .. 6 60¾- i-5 77 - 88M 83 - 85 64½- '69 71 - 73½ 67 - 70¾ 67¼- 69 70¾- 04¾ 89¾- 98 91¾- 97 '68 - '75 Oreiron Trans.-1st ... 6 65 - 08 68 - 75¼ 76 - 80½ 78 - 80 .... . ... 101 -101 . ... .... . ... .... . 101 -101 .... . ... . .... . ... .... - . . ... Pannma.-S. F. sub ..... t, .Pacific Railroads-Cent. Pac.-Gold .. ...-61.00¼-110% HO -U.2 11!.¾-118 111¾-112¾ 112)4-114 -:.13¾-115 111¾-ll2 lll;J;(-114 112¼--118½ 118!4-1113¾ 118 -115 114¾-117 107¾-107¼ 108 -108 108 -108 San Joaquin Br .... 6 104:J,£-105¾ 105¾-105¼ . . ~. ... 104¼-104½ 108 -105 .... .... 106 -106 105½-107 ... 96 - 117 100 -100 .... 100½-102¾ 101½-101¾ 1021,(-102¼ 108 -1-03¾ (Jal. & Orea-on ... ... . ti 9tl - 97 98¾-09½ {)8 -100 100¾--101 97 - 08¼ .... . ... -1-01 100½-101½ .... ... . . .. .. 101 tl9 -100¾ 100½-10~ .... 100 -100 100¾-100¾ 98 - 98¼ ~eries B .... . ... 6 Land g-rants .......... ti lOiJ¾-102 101¼-1-02 102½-108 99½-100 W¾-102½ 10:t -10~.i .... .... 104¾-106 104 -106 102)4-103½ 103J.s-10S)4 108½-!04½ Western Pac ......... 6 107 -107½ 107 -108¼ 108½-100¾ 108 -109¾ 107¾-108 l 10 -111% 108 -108¼ 109 -100¾ 100 -109¼ 110 -110 111 -111¾ 111½-112 . .... ... .... ....... .... .... - ···· 1108 -108 no -110 .... - .... .... Northern, Cal.-Gu ..G .... - .... .... - .... .... - .... .. .. No.Pac.-Gen.lst, l.g ti 09¼-101 100 -105,:( 105 -106¼ 10:J_½-105¾ 102½-104)4 l037A-105½ 101½-104¾' 104½-106 105½-106¼ 106½-100¾ 10'9¾-118 111½-115 1().6 -106 JOO 106 -108¾ -104¾ 110½-110½ 111¼-114¾ 100 -100¼ 103½-103½ lOl!li{-103~ 103¾-105 ...• - . . ho4¼i-10i¾ 104¾-105¾ Gen. 1st. 1. Ir•• reg .. 6 .... .... .... .... . .. .... .... .... .... .... - .... .... - .. ... .... .... .... .... .... . ... 88¼- 98 89 - 08 Gen., I. it., 2d,1933 6 08½- {)6 97¼- 00 04¼- 08¾ 97 - 98),( 96Xi- tl8¾ 08½-101¾ 101 -102¾ tl8 -101 101¼-lOt 108¾-105½ So. Pac. Cal-1st .... . 6 95 - 96.½i 96 - il8 .... .... .... ... .... .... .... .... . ... .... tl5 - 96¼ ... 00 -W¾ 09 - 09 99½-lOOM 101 -108 So Pac. Arizona - 1st 6 .... .... g3 - 93¾ 93¼- 04¼ 93¾- 94 937,i-- 94¾ 00¼- 96 !JS¼- 05J,,( 95¾- 97 97¼- 98 {l7 - 08)4 08¼-1()()½ 1()()¾-102¼ So. Pac. N.Mex.-1st 6 .... 115 -115½ 115¼-116¾ 115¾-116¾ 116¼-117 111¼-112¾ -112 115½-117 114¾-115½ 110 112¾-114½ 114½-116½ 118~-115}( 112¾-118)4 Union Pac.-lst ...... 6 .... 104¾ 105% .... .... 106¾-107 .. .. - . ... 107¾-107¾ .... .... 1()4¼-104½ 105½-105½ 105¾-1~5¼ Land grants .......... '7 106½-107 108 -108 .... SinklnJi fund ......... 8 117 -11771' 117%-119 116 -120 11'7¾-119½ 118¼-120¼ 120 -121 121 -122 123 -128 119½-120 120 -121 121 -121 121 -121 .... .... .... 115 -118¼ ll~-118},i 120 -120 119½-120 120·{-120½ 121½-121½ 118 -110 .... - ..... 120 -120¾ - ..... Reiristered .... ....... 8 ... 1-12½- Q2½ 98¾--ll8% .... ... - ..... .... - .... . ... .... - . ... .... - .... ... . .... ... - . .. . (:ollater. Tr.. , '.1.907 .~ .... 111 -1i1 112)4-112% -118 ... 112 1101,,(-110¼ .... 109½-109½ 118½-114 .... 110 112¾-113½ .... -110½ 112½-118 K. Pac.-1st. 1S9.l.ti' 1st, 1896 .. ......... . 6 107 -107¼ 'l.07½-108 109 -110½ 109½-110½ 112%-112¾ 109 -100 109¼-111 112 -112 111 -111 111)4-112 112 - 118 110 -110½ De1n•. Div.-AH'd o· 11 ,C,¼-106½ 106 -108 108%-110¼ 109½-111½ 108¾-109¾ 108¾-100¾ 109¼-110½ ll0¼-111 100½-111 111 -111¾ 100¼-111½ 111 -112 1 st, cousoi . ... .... 6 92~~- 93½ 92½- 98¼ 92¼- 98¾ 02½-'!.-01½ 06 - 91}¾ 08 - 99½ 08 - ~9¼ {)8 - 90¾ 07½- 09¾ 98 -101¾ 08 -101¾ 09¾--101 - . .... .... .... .... - .... ... - .... .... .... .... 106 -106 106 -106 102½-102½ .... .... - ... . C Br.U.P.,fund.cp.1 .... 95!-6-100 89½- 90 95 - 95½ 95½- 06 08!4-100½ 102 -~02 90 - 92½ 92 - 98 01 - 98 93½- 93~ 93½- 94 At.Col.& Pac.-lst.6 86 - 86 00 - 90 .... - ... 00½- 00½ .... 00 - 00 . - .... 00½- 90¾ 02 - 92 91¾- 08½ ..... - .... 02 - 95 At.J. c.& w.-tst.6 .... 00 - 91¾ 90¾- 91~ 00%- 97)4 97¼- 09¼ 07½- 00¾ Oreir.Sb.Line-lst .. 6 87'¼-W 84¼- 8"" 8'~- ~),( 85 - 91¼ PC - 01¾ 00¼- \12¾ 92 - 95 s,5 90 00 90 - 00 00 - 00 ... . - . ... 09 - 99½ .... 99 - 09 96 - 07 Utah South.-Gen .. , 96 - 06 93 1.15½- 95¼ 92 - 92 .... .... .... - .... 90 - 00 .... .. llO - 91) .... - .... ·- ... .. .. - . .. 87 - 87 .... - .... Ext'n, 1st, 1909 ... '7 87¼- 87½ .... 114 -103¼ 96½-100 98 -101 100 -101½ 101 -102¼ 102½-108¾ 108¾-106 103 -104¾ 104 -108 lUo. Pac.-1st cons .... 6 91 - 94:¼ 92 - 97 iJ5 - 07 90¾-105¼ 105¾-107 107 -114% lOS¾-111½ no -111 118 -118 118¼-114 114 -115 115 -117¼ 114½-117½ 116 -11~ 3d ............. · •· ••··'7 90l,4-104 Pac. of Mo.-lst . .. .. ti 105½-106¾ 103~-104 104¼-105½ 105 -105¾ 105 -106 100¼-107½ 107¼-108 104¾-105¼ 104 -lOi'i½ 105 -105¾ 105¼-106 106 -106½ 108.½;-109 ... - . .. . .... - .... .... .... 110 -110 110¼-111¼ 112¼-US 113½-117 118¼-114½ .... ... 2d ........... .. ........ 7 l08 -108 97¼- 118¾ 98½- 00% .... - . ... 100 -10') 100¼-100¼ .... - . ... 104 -105 104 -106 St. L.& S. F.-2d, cl.A . . 6 101 -101 101¾-102½ 104 -104 108 -108 07½-108 09 -108¼ 103 -105½ 96 - 07 96 - 97 90½- 07¾ £17¾- 08 1,9¾-101¾ 99 -100½ 96¼- 97 Class "C'~ ............ 6 09 - 99!)4 08½-100 98 - 90}( 90 -104 100 -104 104 -106 07 - 98 07 - 98 98 - {19 96¼- 118 Class "B" . ........ ... 6 09:Jg-100¾ 09¾-100½ 100 -101¼ 99½-101 .... .... .... - ... . .... .... .... . ..... - .. .... - .... 102 -Htl .... .... - .... . E11ulpmeut ............ 7 101½-101½ 108½-108½ .... 95½-108 General mort ........ 6 .... ·•• · · 112 - 08½ 08½- 94¾ 94 - 95½ 04 - 94¾ 93½- 94¾ 01 - 01½ 91¾- us~ 01 - 91¾ 01 - 94¾ 94%- 97;14 So.Pac.of Mo.-1.st .. 6 1oi -103!i 108 -1037,11 104 -10-l¾ 104 -104¾ 104½-105¾ 1(15%-106¾ 10$¾-103½ 103½-108¾ 108½-104¾ 10$¾-104¼ 104½-105¼ 104¾-106 ... . .... ... . .... - .... .... .... .... - .... . - .... .... 106½-107 107½-107¾ Texas & Pac.-lst ... 6 105¼-105}( lOS¼-108¼ ..... .... .... .... - .... . .... .... - ... . .... . ... - .... .... ... 74 - 75 78 - 78 Consols .... .. . .. ..... .6 75 - 75 84¾46 Inc.& laud gr., reJi.1 8-3 - 88 36 - 39 35¾-87¾ so - 84¾ 883,(- 87 85 - 88¾ 86 - 40 80 - 477,11 411 - 50 45½-~ 46 - 50 .... 58 - 57 60 - 66½ 66½- 60 .... - . ... .... 54 - 55½ 55 - 58 52¾- 58 52 - 57¼ 52 - 55 I 50 - 58 1st, Rio Gr. Div .... ti 51 - 54 59 - 64¼ 57 - 64½ 57 - 68:ki 42 - 61 48 - 50¼ 49 - 51¾ 48¼- 58½ 51½- 60 48 - 58¾ 47 - 50 50 - 54 Ex Au1i. coop ...... 6 50 - 52 54 - 57½ 40 - 56 44 - 45 48 - 48 48 - 52½ 51 - 61¾ 57 - 50 46 - 52 40 - 51 44¾- 44¼ 47½- 48 Gen. ill. & ter ........ 6 .... Pennsylvania RR.- -101 102 -101½ -102¾ 1()2½-lOS¼ 99¼-100¼ 09!1(-102 101½-102¾ 09¾-100¼ 100 -100 98½- 09½ 98¼-100 Pa. Co.-Coup ... .... . 4½ G5¾- 00¾ 07 -100 99 -100¼ 101 -101 101½-102¾ 102¼-102¼ 06 -100 97¼- 99¼ 00¾- 09¼ 100 -101 101~-102¾ 09¾- 09~ 100 -100 H eir1 .. te1•ed ........ -4¼ 05¼- 06 .... .. . . - .. .... ••. 120 -120 ... . -. - .... ... Pitts.C.&St.L.1stcp '7 .... - .... '  - ... .... .... -.. .. -~ -  -  -  -  -. ......  .... -  -  -  -  -. -  - ....  - ....  .. -  . - .  -  -  --~ - ......  .... - ...  ....  - .... ..  -  ...  - .. ..  - ....  -  ... -  -  .. -  -  -  -  -  .... -  -  - ....  ....  - ... ... -  - ...  -  -  ~  - ....  - ....  -  -  -  -. - ....  -  -  -  - ....  .. - ... -  ~-  -  - ...... - ....  -  -  - ....  -  .... -  .... - ....  - ...  -.  -  ....  -  - ....  -  -  -  -  -  -.  -  -  -  ...  -  -  ... - .  -  .. - ......  .. -  -  -  .  -  -  -  ....  .... -  -  -.  ....  -  ...  ....  ...  - ....  -  .... -  -  -  -  -  - .... .. -  -  ....  -  -  -  -  -  -  -  -  -.  -  ..... -  -  -  -  -  .. --  - ....  ...  -  -  .... -  -  .... -  -  - .... .... .... .... .... - ...  -  .  -.  - .... .... ....  .... -  -  -  .... - .... ... -- ... .... -..... - . .... .... - .  - ...  -  -.  .... .  -  -  --·. -  .... .... - ... . - ....  ....  - ....  -  -  -  ... - ....  -  .... -  -  -  .... - ....  - ..  -  -  ... -  ...  ....  .... -  ....  -  -  • Coupon otr.   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  .... -  ....  ... - .... ....  ... ....  - ...  ..  ....  ....  68  R.AILROA.D BON.DS. 188:i-Concluded.  ------------;-------;------,------,-----,---- --------.,-----------c----- .-----,---BONDS.  --------- --  JANUARY FEBR'RY.  MARCH.  - - - ---·----  APRIL.  AY.  JUNE.  JULY.  At'GUST. 8EPT'BER. OC'T0BER N0V'BER.  DEC'BEH  Low.High Low.High Low.High Low.High Low.High Low.High Low.Hl~b Low.High Low.High Low.High Low.IUgb Low.Hi~h.  Pennsylvania RR.Pitts.Ft. W .&C.-ht., 135¾-186¼ 1~-187 188 -189 189½-140 189 -141½ 140 -140½ 187¼-188 140 -140 140}:(-141 - ... . 141¼-141¼ 141½-143 2d .. ........... · ··. ') · ·· · .... - · ·· · · ... - . ·· · .... - .... 187 -187½ 188 -140 •.•. - ........ - ..•. IM -188 181) -189½ 188¼-188¼ 188 -138 3d .. ..................... '7 . .. . . .. . . . . . - . . . . . .. . - .... 127¾-l.29¾ 180 -130 .. .. - .... 184 -184 - ... . 181½-181½ • . . . Clev.& P.-Cons.s.1d.'7 ... . - . .. 1. ... - . .. 124¼-124¼ .•.. - ........ - . . . 125 -125 126½-127 129 -129 129¾-180 180 -180 .... - .... 127 -cl28 4th ...................... 6 107 -107 108 -108 110 -110 111¾-111½ •.•. - ••.. 1~-108¼ 108¼-109 110 -111 110~-110½ 11(%-111 •.. St.L.T.&T.H.-tst.'7115 -115 .••• - •... U7½-118 .... - ••. 122 -122 2d, guar., 1898 ..... '7 .... - ........ - .... 112 -112 112 -112 - •... 104)4-t~~ Peo-riaDec.& Ev.-lst.6 .... - .. .. 95 - 98 108 -!OS¼ 100 -108 85 - 85 .... - . .. 85 - 85 95 - 95 90 - 90 95 -100 100 -102 105½-107 Income... ...... ........ ... . . . . - . . . . . . . - . . . . 20 - 20 21 - 21 23 - ZS .. • . 88 - 42 89 - 44 41 - 42' Evansv. Div ........... 6 04½- 94½ 95 - 95 00 - 92¾ 91!1.(- \12¼ . ••. - .•.. 90 - 90 85 - 86½ 87 - ~ 96 - 98 98 -100 Income . . . . . . . . .. . . . . . . . . . . . . - . . . . SO - SO½ SO - 36 S8 - 41 36 - 48 40 - 44 Peoria&Pek.Un.-lst .6 101 -101 101½-101½ .... - .... 101!1.(-101¾ .... - ••.. ... Pittsb. CJ. & Tol.-tst.6 107 -107½ 107¼-107¾ 1Qt%-109½ .... - .... I00¾-106½ .... - .... 107¼-1&7¾ .... Pittsb.Br.&Buff.-lst .6 .... - ........ - .... 00 - 60 .... Richmond & All.- ht. '7 50 - 58¼ 51'-'- 5:J 54 - 59¼ 5.'3 - 56 51¾- 56 56 - 67 52 - 56 57 - 64½ ..... - ••.. 67 - 67 70 - 70 •••• Trust Co. Receipts .... .... .... - ........ - .... 61 - 61 62½- 65 64~- 70½ 67 - 75 70¼- 74 Rich. & Danv.--Cons .. 6 98¼- 96'7~ ~ - 1 ~ 99¾-lOl¼ 100 -102½ 101¾ 10--Z½ 102)4-103¼ 100 -100J4 108¼-104¾ 104%-·l~ 108 -Hi9¾ 109 -112¾ 112¾-115 Debenture .......... .. . 6 52 - 59 57¾- 61~ 61 - 69 62 - 65 62 - 64~ 64 - 67¾ 67 - 78 74 - 79½ 78 - 82½ 81 - 87 86 - 91 M - ~ Roch. & Pittsb.-1st ... 6 108 -108 ••.. - .... 107%--108 - .... 110 -110¼ •. •• - .... 108¼-110 110 -110 110 -112 Consol., 1st ............ 6 00 - 00 89¾- 00 89 - ~ 90¾- 92~ 98 - 94 .... - ••.. *89¾.. 00 *91 - 98 "91 - 98 98 -10::. *101 -107 103 -105 Jncome ................... 6 52 - 62 ••.• - •...•••• - ........ - ....... - •.•..... •.• . .. - .... 60 - 60 Rome W. & Og.-lst . .. '7 109 -!09 - .... !07 -107 111 -Ill ...• - .••. 110 - 110¼ .... .•.. - ... 110¾-lll Con., 1st, ex •.... ...... ~ 72¼- 75¾ 7~- 76 76 - 78¾ 7S - '7~ 70¾-- 75¼ 74 - 75¾ 74%-- 75¼ 76 - 77¾ 77¾- 78½ 75¾- 82 80¾- 85 88¼- 00 Income ................... '7 8S - 88 8S - 88¾ 86 - 86¾ 84¾- 84¼ 88 - 35 Sl - 81 SO¼- 80¼ 8S - 84J-ti 83 - 88 85 - S9 87½- 4i!½ 41 - 46 St • .Tos.&G'd l1!Jl.-1st.6 .... - ........ - ........ - ....... - ........ ... - ... . 104 -104 103 -104 2d, income.. .. . . .. . . .. .. . . . . . - ........ - . .. . . . . . - . . . . . . . . ~ - ~ 54½- 57 St.L.Alt.&T.H.-ht.'7 .... - .... 114 -114 •••• - .... H5½-llf>¾ll2 -112 ••• - .... 114 -114 .... - .... 116 -116 2d, pret ..... . ............ 7 109 -109 . .. - .•. . 106 -108¼ 107 -107 106 -109 109 -109 .... - . ... 107 -112 112 -112 109½-111 111¼-112½ Ill -111 2d, income .............. , 98 -100¼ 00¼- 90½ 99 - W¾ 99 -100 96 - 96 98 - 99¼ 100 -100 102½-102¾ •• .. - . . . 105 -107 104 -1~ 104 -104 Dividend bonds ... ... .6 20 - 20 20}.(- 81 27 - 27 25¾- 26 25 - 25¾ . . • • - • • • . SO - 85 87 - 89 85 - 41¾ 89 - 51 . • • • - . . . . 50 - 50 Bell. & So. Ill.-1st .. 8 .... - .... 114¾-ll~ ..• - . ... . .. - ....•••• - .... 115½-115¼ St. L.& Iron Mt.-tst .. '7 ll~-114½ 111 -118 111%--118 112~114¾ 114 -115¾ 115 -116 115¾-116½ 114¾·114¼ 118¾-115 114 -115½ 115¼-115¾ 115)4-116 2d, 1897 ................ '7 lCS½-105¾ 103 -105 105¾-1{.8½ 108¼-110 107 -108J4 107½-108 108¼-110 110 -110¼ 110 -110¼ 112 -114 110 -111 llQ¾-112 Ark. Branch .......... '7 105 -106½ 105¾-107½ 107¼-109¾ l~-111 110 -111½ 108¼-110 108 -109 109½-111 110 -111½ 111 -112½ 112½-lU 111 -112 Cairo & Fulton-ht.. 7 108 -105 1087,i----100 106 -106¼ 106¾-110 109~-110 109 -109¾ 106½-109 109!,rllO 109¼-110 109¼- 110½ 109¼-110 110 -11~ Cairo Ark. & Texas. '7 102¾-102¾ 101¾-108¾ 104 -105 104 -107 105¾-107½ 104~-105 105 -107 106¾-l~ 107 -107¼ 107!1.(-109 109½-109½ 109 -111 Gen. consol. & 1. g ... .:S 69½- 72 70 - 71¾ 70¾- 72¾ 6~- 74 71¼- 74 72 - 78¾ 72 - 75 74 - 80 78¼- 81½ 79 - 86 88¾- 85 82 - 91 St. P. & Duluth-1st . . .:S ••. . - ••••••.• - ....•••• - •. . .•. - .•. . ••• - •••.• .•• - ....•••. - .•.. lQS¾-110 110 -110 .... - ... 110 -110 St.P. Minn.& M.-lst .. '7 108¼-109 109¼-110 112 -114 111 -ill¼ 111¼-111¾ 114 -115 111½-111½ 115 -115 114 -115 .... - ... . 118¼-11SJ4 115 -115¼ 2d . ......... .............. . 6 110 -111 ll~-111¾ 112¼-115 ll()¾-112¼ 111 -114~ ll4 - 115¼ 114%---115 118 -115½ 116 -117 114½-116 115!1.(-tl7 117 -118 Dakota Extension .... 6 109¾-110 110 -111¾ 112 -11~ 118 -118 110 -111 112¾-114 118¾-114¾ 114½-115½ 116 -117 117 -119 115¾--116¼ 117 -118 1st, consol. ... ... ..... .. 6 100¾--102¼ 102¼-105 106 -108 105 -106¼ 106 -107¼ 107¾-112¼ 109 -118 112¾-118!1.( 112¾-118¾ 118¾1-ll~ 114 -115 115 -117 Min. Union-1st ....... 6 .... - . ... . .. - .... 107 -107 - •.•• 108¼-108½ .... - .... 111 -111 •••• !Scioto Valley-lst,con.7 .... - ........ - ........ - .... 40 - 40 40 - 40 •••• - .... 41 - 41 45 - 50 46¾- 46¾ Shenandoah Val.-lst.7 .... - ........ - ........ - ........ - .... 70 - 70¾ 8outb Carolina-1st ... 6 102¾-108 108¼-104 .... - •••. 108 -108 •••• - .... 1~.:105 105 -105 ..•. - .•.. 106¾-107½ 107~-109 2d, 1931 .... ... . ........ 6 .... 92 - 92 .... - .......• Incomes. . .... . ........ . 6 . . . . - . . . . SO - 81 SO - SI¼ . . . • - • • . . 25 - 28 26 - 26 SO - 85½ . . . . - . . . . 85 - 36½ 84 - 86 28 - 86¼ TexasCentral-tst ..... '7 78 - 78 52 - ill}¾ 51 - 51 52 - 58 ... - .... 57¼- 57¾ 60 - 60 60 - 68¾ 67¾- 67½ 70 - 70 69 - 70 68 - 68 1st, S . F., 1909 .. ... 7 . ... - ...... .. - . .. . 60 - 62¾ 65 - 65 .... - .. .. 70 - 71 69¼- 70 69 - 70 Tex.& N.O.-lst,190:S '7 .. .. - ....... . - ... 116 -116 117J4-117½ ... - ....•.. • Sabine Div.-tst .. ... . 6 78 - 80 78 - 81 77 - 80¼ 79 - 80¼ 79 - 80 75 - 80 80 - 91 00 - 96 98¾- 96½ 96 - 97 96¼- 97 98 -101 T.&St.L.-M.&A.,bt.6 . . . . - . .. . . . . . - .... .... - . . . . 81 - 8S SO - 82 81 - 81 48¼- 50 50 - 52 Toi.& Ohio Cent.-1st.:S .... - ... : .... - ........ 81 - 82 81½- 88¼ 88¾- 95¾ Virginia Midland-Inc.6 55 - 57 58½- 60 ... • 54 - 55 50 - 58 48 - 58 58¾- 58½ 54¾- 61 69 - 60'7~ 58¾- ~ 60 - 65¾ Wab. St. Louis & Pac.General mort ... ...... . 6 35 - 87½ ..•• 2{1¼- 88¼ 20 - 82½ 27 - SO SO - 42¾ 88¼- 41 40 - 50 45 - 56 50 - 52!),j Chic. DiT ................ :S 72 - 74 78 - 79¼ 75 - 78¾ 75 - 76¾ 77 - 7!% 65 - 74~ 67 - 72 72¾- 77 76 - 781,4 76¾- 80 78½- 88 81¾- 85¾ Toi. P. & W.-lst ..... , 80 - 82 76 - 7™ 75 - 80 75 - 78 70¼- 7~ 71¾- 723i 72¾- 78½ 77 - 85 88 - 87 89 - 91 93¾- 88¾ Trust Co. certs ....... . .... - ........ - ...... .. 86½- 87 92 - 98 91¾- 93 92 - 94 Iowa Division . . ... . 6 .... - ........ - . ... 50 - 50 •••• - • •• . 53¾- 55 62 - 62 62 - 62 .... - • . . . 60½- 64 62 - 62 Cai-roDiv.-1931 .. .. :s .... - ........ - ....... - •······· - ........ - .... 47 -58 51 -51½ .... - •..• Wab'sh-Mort •.1909,'7 69 - 69 .... - ... • 60 - 60 60 - 70 68 - 7'J¼ 72 - 75 76 - 80 Toi.& W.-lst, ext'd., 105¼-106 106 -108¼ 108 -101% 107 -108 105 -106 105 -106 105¾-107½ 106¾-108 108 -109½ 109 -110 110 -112 111¾-llS St. Louis Div.. .. ... .. 7 97 - 98 97¼-102 101 -101½ 00 -100¾ 99 - 99 95 - 95 · 94 - 95¼ 95 - 98 100 -100 97¾-101 100 -102¾ 102%-104¾ 2d, extended .... ... . .. , 91 - 91¾ 9l~a- 00¼ 94 - 94½ 00 - 98 00 - 91 88 - 9a 86 - 86 89½- 92 98¼- 96 04~- 997/4 98 -100 99 - 99¾ EQuipment...... . . , 27¾- 2~~ • • • • - • • • . • • • - • . . . . • .. - . •• • 20 - 20 - • • • . .. . . Cons., conv ...... 7 78 - 78 79½- 82 75 - 78 70¾- 80 76 - 77¾ 65 - 70 65 - 71¾ 70 - 78% 78 - 88 82 - 84 88 - 85 86 - 93 Gt. Western-lst ...... '7 105 -105½ 105¾-107:½i 106½-107½ 105¾-106½ 1~-106½ 108¼-105 105 -106¾ 105¼·107¼ 106~-108 107!1.(- 109 10$¾-109¾ 109¼-110 2d ...................... . '7 91 - 92 92 - li7 98 - 95 90 - 91 - •••• 00 - 90¼ •.•• - •... . ••• - ••.• 98%- 96½ 94¾- 9fl 98 -100 9$¾-100 Quincy&Tol.-1st ... '7 .... .... - .. . .... . - ........ - .... 71 - 71 St.L.K.C.&N.-RJ.E.7 100 -100 100 -102 102 -103~ 96 -101 •..• - ..•• 88 - ~ 89'.(-100 96~-100 100 -100 108 -105 105 -107¾ 109¼-100¾ Omaha Div .... .. .... '7 101 -102 ~-101¼ 88 -102 80 - 85 81 - 81 77½- 82 74 - 78 79 - 85 81 - 88¼ 81¾- 84 85¾- 89½ 90 - 91¾ Clarinda. Branch ... 6 .... - . .. . 75 - 711 60 - 76½ •. •. - ....•••• •... - . .. . 58 - 59 55 - 60 61 - 62 St. Chas. Bridge .... 6 75 - 75 · 80 - 80 76 - 76 71\¼- 78 • . • . 80¼- 80¼ • • . . - • • . . 75)4- 75¾ 80¼- 87 00 - 95 92~- 94~ North. Mo.-tst .. ... .. . '7 11()%-111¾ 112 -114~ 1.11 -112½ 108 -111 !08 -109~ 1og -111½ 109¼-110¼ 110¾-110¾ 112 -118¾ 112½-114 118¾-116 112¾-117 West Shore, guar ...... 4 .... - .... 100 -104¾ West. Un. Tel.-Coup .. 7 110 -110 lll¾-112¾ •• •• - •... 117 -117 - .... 116 -116 .... - .... 116 -118¾ 118 -USU 118¾-119¾ •.. . Registered ............ '7 UO -111 •••• - •••.•••• - ••.. 115 -116 110 -114½ 115 -116 115¼-117 116¼-118 118 -11/J 118¾-118¾ 128 -128 .... - .. ••  = ··· .  •Ooup0n o:tr.   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  RAILROAD .AND MISCELLANEOUS STOCKB. NEW YORK STOCK MARKET, 1880-86. The following brief remarks should be read in connec• tion with the range of prices on subsequent pages: which show the highest and lowest prices monthly at the N. Y. Stock Exchange in ea.ch of the five years 1881 to 1885, inclusive. 1880.-The Stock Exchanges were centres of interest, in the year 1880 to a d~gree never before witnessed. The price of seats in the New York Stock Exchange rose to about $25,000 in December. The total reported sales of share~ at the Boa.rd amounted in round figures to 97,000,000 against 74,000,000 in 1879, and the sales of railroad bonds to :,i570,000,000 against $412,000,000 in 1879. The great number of new stocks and bonds admitted to the Stock Exchange List was one of the notable features. So J?reat were the combinations, consolidations and extensions of railroads in the year that the analogy as to the course of certain stocks with former periods was lost, and comparisons of earnings or prices with prior years were rendered of little value. Thus, what was the worth of a comparison of 1880 with 1879 on Louisville & Nashville stock, doubled in amount, a nd the company operatin$' 700 miles more of road; on Waba.s h St. Louis & Pacific consolidated; on Union Pacific, embracing the former Kansas Pacific and other bankrupt roads; on St. Paul, with mileage increased 1,300 miles; on Northwest,. with 300 miles more of road; on Rock Island, with its doubled stock ? The year 1880 was one sui generis in the stock market and must stand alone. The speculator or investor who took thtt experience of former years as his guide frequently lost money. , But, notwithstanding the general strength of the situati JD, based upon the immense income of the railroad corporations, the year was not all sm~oth in the st~ck market,, and in May and :Tune came a deprei.s1on of e:x:traordmary severity. Indeed, there has seldom been a worse decline in the stock market arising from what seemed to be purely speculative b.fluences There was no panic, no failures of consequence among bankers or stock brokers, but a gradual and irresistible ~hrinkage in prices, under heavy and continuous sales which carried down the whole list, ten, twenty, thirty per cent from the highest made in the early months of the year. The shock to outside operators was great, and although there was a partial recovery of tone in prices in June and following months, the general market did not again show a decided activity and buoyancy until after the elections on the 12th nf October. From that time until the end of the year everything- was on the upward move. and even the tight money of early Decemter was insuffi. cient to produce any considerable break in prices. Bears iu stocks habitually lost money, except in Western Union l'ele graph, which collapsed to 77~ on December 17, from 104¼ on November 22. NotiBg the lea.ding events of the year in the order of their occurrence, we find that in January the New York Central & Hudson syndicate availed themselv6s of their option to take 100,000 shares more of stock from Hr. Vanderbilt; the consolidation of the Union Paciftc, the Kansas Pacific and the Denver South Park & Pacific Railroad companies was made; the Missouri Kansas & Texas Railroad waa obtained by Mr. Jay Gould; th~ Louisville & Nashville purchased control of the stock of the Nashville Chattanooga & St. Louis Railroad; the sale was made by the Huntington party of $10,000,000 dentral Pacific stock to a syndicate of bankers; in April the stock of the Chicago Burlington & Quincy Railroad sold ex: 20 per cent stock dividend made on the consolidation with Burlington & Missouri in Nebraska. 'l'he next event of striking interest was the suspension in May of the Philadelphh, & Reading Railroad and its coal company, and the appointment of receivers on May 24. In June the Rock Island Railroad Company f,,rmed a consolidation, and made a 100 per cent dividend to stockholders. In August a contest began between the Chicago Burlington & Quincy and the Wabash St. Louis & Pacific railroads as to the control of Western lines, which was finally settled in October. The Louisville & Nashville Railroad declared its 100 per Cfmt stock dividend payable December 1. Mr. Jay Gould, owning a controlling interest in the stock of the Missouri Pacific Railroad, made a consolidation in August, with provision for issuing $30,000.00Q stock and $30,000,000 bonde. He also purchased in Novembt>r most of the stock of the Denver South Park & Pacific Road, and in December a large block of St. Louis & Iron Mountain stock and a majority of International & Great Northern stock. The Western Union 'felegraph quarterly statement of receipts was published December 8, showing a large decrease, and the stock fell off heavily. "._, 1881.-The Stock Exchange<, iB New York and other cities absorbed more than the usual attention, as centres of a constantly growing financial business in which the whole community was more or lesa interested. At the New York R A1.rd the price of seats advanced in the first half of the year to over $30,000, but fell off again in the latter part of the year when commission business was less profitable. I t was notable that the first six months of the year had much the largt>r busine~s, and for the whole year there was an increase in stocks but a decrease in railroad bonds. 'fhe total sales of all stocks were in round figures 113,000,000 &hares, against 97,000,000 in 1880 and 74,000,000 in 1879. The sales of railroad bonds amounted to $387,000,000, against $570,000,000 in 1880 and $412,000,000 in 1879. Although the year 1881 witnessed the most wonderful con Rolidations, stock-waterings, and other enormous iHsues of stocktc and bonds, it may fairly be said that the year passed wit.bout a Ringle collapse of importance in thf3 market, and wUhout any   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  60  depression which amounted to a stock panic. There was no break even which could be compared to that of Nov., 1879, or ,~lay Lo 8U, and this, too, notwithstanding such occurrt,nces as th e money pressure of Feb. 25, when loani'I cost 1 per cent a day, and the assassination of President Garfield on July 2; when the country was shocked to its foundation. The great -;trength of the leading opera.tors who were interested in BUI'· · r.aining the market, and the general confidence in the prosperity · ,)f the country, which caused a quick rally from every decline, wt>re simply astonishing. In looking a t, the controlling influences of the year, we find d1 at the winter opimed with great s<:>.verity, and in the Northwest the obstruction to railroad traffic had hardly ceased by the first of May. After the hard winter came the partial failure of crops and the great drought throughout the West., which •nflicted a further loss of b •,smess in the later monthe of the year. On the other hand, the movements of passengers and ~eneral merchandise, including the transportation of material for about 9,000 miles of new railroad, were so large, that the Western railroads kept up their gross earnings q uit8 remarkably, and in many cases Rhowed a considerable increase over 1880. In the last half of the y Par came the rail road war among the trunK lines, by which the rates bet ween th ~ West and t,he sea.board were so reduced th11.t th~ transportation bet.wePn Chicago and New York was done at prices barely paying expenses. At the Stock Exchange the ye&r opened with buoyancy, under the influences of the manipulations of Western Union Telegraph stock by Mr. Gould, which wa<i advan'}ed to high prices on the consolidation of the company with the American Union and Atlantic & Pacific, and the distribu tio1,1 of 38 ~ per cent as a stock dividend. '!'here was afterward no great feature until the end of February, when the contraction caused by the action ()f the banks in apprehension of the passage of the funding law with the "Carlisle" amendment. ca.used a money panic for a. few davs and produced a very snarp decline in stocks on the 25th of February. 'fhere was speedy recovery from this as soon as money relaxed, and the confide,1ce in stocks quickly reasserted itsl-llf. Except the ordina.ry fluctuation~ of the market, there was nothing of great importance from this time f. •t·ward until the shootin<! of President Garfield on the 2nd of July, which cam1ed a temporary <iecline; but as the next two days (Sunday and Julv 4) were bm'4iness holidays, the time giv en for reflection was 1mfficient to make a steadier feeling, and wit h a strong support at the opening on July 5, it was soon shown that the danger of a panic wa.s g one. r In the last half of the year there occurred only the osual variatio..is of the stock market, until D ~cembP-r, when the effe t of the long-continued war in rates, t ogether with a growing interest on the bear side, led to a gradual decline. The first dec1ine was precipitated by a sharp fall in Denver & Rio Grande t:1t.ock. under the attacks, as reported of Mr. Gould, and soon after came the reports of the Vanderbilt roads i,ihowing a heavy loss in net earein,1?s, which were followed, on December 30, by the rel,>orted troubl-es in Wa.ba.sh and the pa..<ising of its January dividend on preferred stock; and undt-r all these influences the market closed with much depression &nd with many 1-1tocks near the Jowest price1:1 of the year. 1882.-The stock market in 188~ showed a trift.e less activity in the volume of business transacted than in the previous year. In taking a. general vil-lW of the course of prices, it is found that t:h.ere were three periods of considerable depression, and only in 1uly and August was there genuine buoyancy in stocks caused by outside purchasi-:>s, uninfluenced by speculative manipulation or the manceuvres of professional operators. After showing some strength and animation in the early part of the year, the market collapsed and ra.n into a condition of great weakness, which culminated in the lowest prices about the 23d of February. From this there was some recovery M negotiations progressed for the settlement of the trunk-line war, and the market went on in a feverish condition, with frequ~nt fluctuations, until the ea.rly part of March, when weakness again set in; and fnm the 10th to the 13th there was a feeling of increasing gloominess, and a large amount of stocks was thrown overboard. Ou the latter day Mr. Gould made his fam ous exhibit at his office, to a. few of his io.fluential friends, of a. larize amount of his stocks and bonds, to prove that h e was in no straits f or money, as some of the bear rumors had reported. According to the accounts Mi•. Gould produced a strong box from which he took a large number of st<,ck certificates, including $23,000,000 of Western Union, $12,000,000 of Missouri Pacific, $6,000,000 of Manhattan Elevated. $2,000,000 of Wabasn common, and $10,000,000 of bonds of the New Y,>rk and M~tropolitan railways and WabaAh preferred stock. He also offered to show some $30,000,000 of railroad bonds, but the gentlemen ,wflre satisfied. "" When the result of the harvt>Ht was pretty well known in July, there began a genuine and ac tive purchasing movemeut, and the interest of the public in the market was largP- r t ban it had been in a long time. This streng-th was continued with some variations throu~h Au~uHt, but in September there wa-1a. chi-> ck put on the advancmg tendency, and it WM generally believed that Mr. G<>tild was then opposing any further rise in the market, although his interests forbade that he should bl~come a decidt-'d bt-1a.r on prices. The stringency in money afterward as..'li~t.ed the bear interest, and this was followed by the railroad war among the c,>mpanies 0 f the Northwest, so that from September to December-when this railroad war was settled-thne was never a. time that the stock market presented a. str,mg anti healthy ou_tlook calculated to invite the investment of new  RAILROAD .A.NIJ MISCELLANEOUS STOOKS. money, and much of that time the depression at the Stock line of the Northern Pacific, on the 8th day of September. Railw~ i:;-., 1:;c1 verc1 litla. G v.riced of a number of lituck.: 1 road earnings were almost abnormally large, and on many re1t.ched the lowest point made in several years. roads the gross receipts were the iat'gt::st t-Ver made. uwing to The Northwestern railroad war was finally settled about the very heavy t onnage at high rates. Among the leading pecember 15, an~ in consequence o~ _that, the tone decidedly events of the year were the leasing of the Central Railroad or improved, and without any great activity the better feeliag was ~ew J ersey, from June 1, to the Philadelphia & Reading; the maintained, with some exceptions, till the close of the y ear. lease of _the New York Pt'nnsylvania & Ohio from May 1 by . Any account. of !he stock market in 1882 would be quitP the York Lake Erie & Western ; the strike of the Westmcomplete which d id not refer t0 the large and ra.pid decline ill ern New Union Telegraph operator8 in July, and the breaka few of the highly speculative stocks, Ruch as Denver & Rio ing up of the Iowa. pool ia December. Prices at the end Grande, Richmond & Danville, Richmond & West, P oint L ouis- of December were generally near to the lowest point of the ville & Nashville, and Hannibal &St. J oseph. The brea k in th P year. Hannibal & St. J o~eph stocks was the res ul t of the corn er of thP previous year, while the Richmond & Danville stocks Wt-re so l _S84.-The stock market opened in January with depression closely h eld _tha~ they _la~ored under _the same dhiadvantage. The Wi->ak pornt rn Louu~v1lle & Nash vill e was its large fund ed whwh was brought over from December. On the first of the vear an~ floating debt. Denver & ~io G rande was perhap:- , a r~ceiver was appoin~ed for the New York & New Engiand weakest of all, partly be<lause of rncreased (• r,mpetition but Railroad,. and a break m Wes~ Shore bonds and appointment of a rece!ver for the N o~th R1 ver Construction Company, to mainly because of th i-1 additions to its st ock and debt ' The combinati~n and consolidation of leadin ~ lin~·s of rail- getber with a new break m Oregon & Trans-Continental and the road contmued m 1882 .. In January ~he Atc hison Topeka & Northern P aci.fies, caused a gloomy feeling in the market. On Santa Fe and the St. Loms & San F r-a ncisco lost t heir control of the 2!>th of t~e month a turn was given by the formation of a the Atlantic & Pacific R?ad, which was under C'Jnstruction, syndicate which _made a loan to the Oregon & Trans-Continental a?d Messrs. C_. P . H~n rrng ton and Jay Gould entered the on the pledge of its stock_s, and thereafter a quick move against directory of the Atlannc & Pacific. G reat Wes re rn an d Grand , the shorts was made which caused a sharp advance in prices 'l:runk _of Cana_da we~·e CllllSolidated under one managt>ment. and a firm tone during the balance of the month and through'I _he _Erie. r oad m ~pril made permanent its conn.. - ctions vVitb ou~ mo~t of February, when the speculative support kept up Cmc1~_na~1 by_ gett1t1!5 control of a maj ority of the bt ock of prices till near the end of that month. On the first of March th~ Gmcmnat1 ~am1lton & . Dayton company. In July thP the co1;ner in Delaware Lackawanna & Western took place Rock Island ?btarn~d p ~ssess10n of th a Miuneapolif1 & St. LouitS. w~ch carried the :i_:>r~ce up to 133¼ regular and 139½ for cash: and the Chicago Burlmgton & Quincy opened its c•xtension ThlS was demoralizmg to the bears, and about the middle to Denver. In September the Delaware Lackawanna & Western of the month another squeeze in N. Y. Central to 122 increased leas~d the Buffalo ex~ension, giving it a Lake Erie "lltlet the feeling. Under the influence of these corners there waR for its coal, and formrng anotlier through route from - New a chance for the large stock speculators to ~et off a considerable Y<?rk to the ~ es_t. But, the most striking event of the year in amount of stock, and with some :fluctuations there was a del'ailroad negotiat10ns was the purchase of a controlling interest clining tendency till the end of April. On the 14th of May came the panic, which the Commercial in the Rtock of the N. Y. Chica.go & St. Louis road (ca.pita! $n'\000,000 , b_v part,iP.s in the intere~t of th i> L ~ke Shore & and Financial Chronicle referred to in its financial review of Michigan Southern and the Cleveland Culurnbus Cincinnati & that month substantially as follows: "This was the culminating point in a period of nearly eleven Indianapolis, the Mt'ssrs. Vanderbilt being most prominent a mong the purchasers. The Michigan Central leased the years, during which had occurred the slow recoverv from the Canada Southern, making a further consolidation in t he samH crash of 1873, the rise and development of the most gigantic interes i:s; and in December i t was announced that the Messrs. speculation in railroads that any country had ever seen, and Vanderbilt a,nd otht-\rs identified with the Chicago & North- finally the inevitable downward movement continued during western manag-t>ment had purcbast>d a controlling interest in th~ n~arly three years from July, 1881, and ending in May, 1884, with what came near to being a serious financial crisis. At stock of the Chicago St. Paul Minneapolis & Omaha road. the end of three years of unparalleled shrinkage in Stock 1883.-In the stock market the decline in prfoPs during tbi> Exchange values, the crash was at last precipitated by the year 1883 was more g eneral and more Revnt-1 than in a ny p 1iur turning up of a line of frauds in financial operations which year since the gloomy period of 1873-1878. To ace, ,unt for tbit- had hardly been matched before-and the worst and heaviest extreme depresHiun, it is neceRRary to go back a few of these frauds was perpetrated under the influence of the years and take an observation of the ac tual conditi,in of rail- name (though not with the personal connivance) of that disroad affairs. The building of many new railroads, and the tinguished soldier and President, General U. S. Grant. The con~olidations and combinations which took place among a names of Fish of the Marine Bank, Grant & Ward, John C. grt-at number of the old companies, led to the floating of a Eno, and a few others, must be woven into the history of matis of new stocks and bond:- : , upon which it was found fmpos- May, 1884. "The Marine Bank and Grant & Ward suspended on sibl e to earn interest or dividends. This spe •ulative stuff was flllated during the general activity, commonly dt'signated as tht- Tuesday, May 6, and the followh1g week the Metropolitan •• boom," wh ich lasted with more or less variation from July I, Bank suspended, followed by a number of banker and broker 1878, to July I, 1881. Railroad stocks or income bonds which havH firms, and the height of the excitement was reached. The no reasonable prospect of dividends for four or five years t o Clearing House banks joined together to support each other come are not often worth more than 20 to 25 in the markt't, and by issuing 'Clearing House certificates,' by which means the some of them may be worth much less. Hence, if the market i~ Metropolitan Bank was enabled to resume on Thursday, May loaded up with a mass of such securities at prices ranging from 15, the day after its suspension. The Second National Bank 40 to 100, it is plainly in a. d~ngerous condition, where a gr,-,a• was robbed of about $3,000,000 by the stock speculations of its shrinkage in values may begin at any time. The law is aimosr President, John C. Eno, but this deficiency was immediately sure t<> assert it~elf in time, and after holders have become con made good by the father of the defaulter and other directors." The greatest depression in tone and in the prices of many stocks vinced that there is no hope of making anything by a rise in was reached about Friday, June 27,when the unmitigated bear prices, or, still worse, that there is no hope of getting rid their burden for the price at which they took ir-, the t--ffort to attacks on the market led to such an overselling that there unload will begin, and will keep on till liquidation has taken was a very quick rally the next day and a semi-panic among the hears. After the first of July and the occurrence of very place. These remarks are necessary to an understa.nd ing of the stock few defaults by railroads, there was a wonderful recovery in tone, and an improvement in prices, from which there was market of 1883. 'l'he public had become loaded with securities which gave no prospect of furnishing income. 'l'hey did not never afterwards a relapse to the panicky feeling of May and realize this fully till 1882 and 1883, and then they began to un- June. The upward movement in stocks was pushed in July and August, with the assistance of different pools, which of load. Railroad traffi~ and earnings were large beyond precedent. course sold out and left the market in a languishing While other branches of business were languishing, and while condition by the first of September. In the last four even. railroad stocks were declining severely at the Stock Ex- months of the year the benefit of the large crop movechanges, the railroads were 1:1howing a heavy business, and ment was greatly counteracted by the disagreement among the r .-,porting the largest earnings evE'r made. The yt-ar 1883 waA railroads and cutting of rates, and by the bad condition of the J;!lainly the maximum year yet reached in railroad busin~ss. anthracite coal trade, the default of Readmg, and especially by rhe decline in stocks, the1efore, arose more from the immPdiate the long-continued contest between the West Shore road and infl.nences bearin~ upon the markets, and fr<m appreh ent1iou a1:1 the N. Y. Central & Hudson over pas!enger rates. From the to the future, than from any wE>akness act ually developed in termination of the Presidential election excitement, late in the railroad situation. But tonnage in 18b3 was very heavy November, till the end of the year, there never was a hearty from the large crops of 1882; from gt>neral activit.y in the bull movement in stocks. It had been generally accepted for movt\ments of various c}as."1eS <'f merchandise; from a heavy coal some months that Mr. Vanderbilt was practically a bear on the tonnage; from an early movement of crops to market in ther all situation, and had sold a large amount of his stocks, and on of 1883, and from a larg-e immigration and sett,Jement of new December 12th the Lackawanna pool closed out their holdings, lands at the West. Passenger business wati a lso heavy. Sharp so that there was no strong support left to the market, and competition, however, began to develop in consequence of the prices closed at the end of the year with great depression. Some of the principal events of the year bearing directly on opening of many new lines ; the Iowa Pool rupture was barely healed; and at the close of 18~3 t.he signs were> generally un- the Stock Market were as follows: On January 1 a meeting unfavorable for a continuance of the g1·~at railroad prosperity of the directors of the New York & New England Railroad which had been so conspicuous during that year. was held in Hartford, and on their application President Clark As the year progressed the market went from bad to wor.:!E', was appointed receiver at 2 o'clock on the morning of Jan. 2. and tb.e climax of depression was reachHd after the defa11lt of The North River Construction Company, building the New the Ohio Central Railroad, on Sept. 1, and the great break in the York West Shore & Buffalo Railroad. was in difficulties, and Northern Pacific and Oregon & Trans-Continental stocks, after ex-Judge Ashbel Green was appointed receiver January 12. the last soike (golden spike) was drivPn, completing the main In the latter part of May the directors of the New York Lake .t.A1.a1a,.1~·e   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  R.AILRO.AJJ .ANJJ MISCELLANEOUS STOOKS. Erie & Western Railroad decided to pass the interest due June 1 on the second consolidated bonds. On May 28 Messrs. Solon Humphreys, of N~w York, and Thos. E. Tutt, of St. Louis, were appointed receivers of Wabash St. Louis & Pacific Railroad. On June 2 the directors of the Philadelphia & Reading RR. and Phila. & Reading Coal & Iron Co. applied to the U. S. Circuit Court to have receivers appointed, and Edwin M. Lewis, Geo. de B. Keim, the President, and Stephen A. Caldwell, w ere so appointed. On June 7 the New York West 3hore & Buffalo Railroad was placed in the hands of ex• Judge Horace Russell and Theodore Houston as receivers, and on July 1 default was made on the first mortgage bonds. In June the Union Pacific suspended dividends and a radical change was made in the management of the road, Mr. Charles Francis Adams, Jr., being elected President in place of Mr. Sidney Dillon. The dividends usually declared in June and payable in August were passed on Michigan Central and Canada Southern and the quarterly dividend on Lake Shore was reduced from 2 to 1½ per cent, and in December the dividend was passed. The Central Pacific passed its dividends, the last paid being that of February 1 at 8 per cent. The usual quarterly dividend on New York Central, payable in October, was reduced from 2 to 1½ per cent, and soon after the company announced that $10,000,000 5 per cent debenture bonds had been issued. On November 1 default was made on Den.ver & Rio Grande first mortgages and Chicago & Atlantic firsts. In November an important change was made in the board of directors of the New York Lake Erie & Western Railroad, and 'Mr. John King was electPd President in place of Mr. Hugh J. Jewett, who retired from the management of the company. In an --article on defaulting railroads, published in the INVESTORS' SUPPLEMENT of October, a statement was made comparing 1884 with the disastrous years 1873-76, and although no close analogy was possible, a rough comparison of the general results in each year was given. as follows:  _____·________ --1  Total of defaults Oct., 1884....... . . . . . . . Entire RR. syst em of the country Jan ., 1884 R atio of d ef a ult~· ······· ·· ·· ··· ········ ·1 Total of d efa ults 18 , 3- 1871'> . . . . . .. . .. . ... .. Ent ire, RR. syst em Jan . 1 , 1876. . .. .. . . . ...  Inr::::  Mileage. Bonds in defa~l_!: 15,986 $315,283,000 121,592 $3,455,040,383 9 ·12 p. c. . . . ... . . $783,967,665 74 ,096 $2,175 ,000,000  13·14 p . c.  -~~~~;. ~~~. ~~~1  i:f :~::::~ ~~ years precedin l? J an. 1, 18 4. .. . . . .. . . . !_no. during five y ears preceding J a n . l , 1876 * E ~timated at $30,000 p er m ile.  ....  ::16·04 39,8 18 $1 ,1 57 ,249 ,467 21,232 *$ 636,960,000  "The whole number of companies in default now is only 42 against 197 in the former period; and in e very respect the rail1·oad defaults of 1884 are so much below those of the disastrous time which followed the crisis of 1873, that the two periods are hardly to be named as having a close similiarity to each other. " 1886.-The year 1885was one of the most remarkable in the sh ck market that had ever been known. It was one of those years when immense fortunes could be made in stocks with a merely nominal capital; after June, the rise in prices was so large and steadily maintained, with slight reactions, that there was little danger of loss to any one who purchased on fair margins with a determination ·to hold. The first half of the year from the opening till the middle of June was a period of great depression, and notwithstanding the European war prospects the market bad no real animation, and could j!et none while the trunk line war was waged so bitterly without any prospect of f arly settlement. About the middle of June a buying movement commencPd somewhat mysteriously in West Shore bonds, the Vanderbilt stocks and Erie, but it was not until July that the impression became general in Wall S1 reet that this was back€d by strong parties, and was founded on negotiations for a settlement of the New York Central and West Shore imbroglio. The Chronicle. however, as early as June 19, _12ave m ,tice of the turn of affairs in these words : "The most significant move in the market, and what certainly would appear to have some unexplained force back of it, is the cotemporaneous advance in Vanderbilt stocks and W est Shore bonds. During the six months or more that the market has been banging nn the changing aspects of the West Shore-Central imbroglio, there has been no such strength or larg-P transactions in the bond,saccompanied by a rise in Central stock. Now, too, the movement excites more interest from the fact that it sprung up on an insufferably dull market, and the ordinary causes assigned for it of 'a speculative move' or 'covering short sales' are altogether insufficient and unsatisfac-  tory." In August the success was announced of the negotiation carried on through Mr. Morgan, of Drexel, Morgan & Co,, for the sale of the South Pennsylvania Railroad to the Pennsylvania Railroad Company, and the foreclosure of the West Shore road and its lease to the New York Central & HudBon, with a positive guarantee of $50,000,000 new 4 per cent West Shore first mortgage bonds. Following this, a strong pool was formed among the trunk lines for the maintenance of rates, which were advanced in November; the West Shore was foreclosed according to the programme, and under the final set• tlement of the railroad difficulties, the stock and bond market in October and November was one of the most active and buoyant that had e-.-er been witnessed. The Chronicle then commented upon the movement as follows: "The great feature of November was the continued activity. huoyancy and excitement at the Stock Exchanges in New York and other cities, which kept up during the first three weeks of the month with very little abatement. Not only has there been no serious reaction, but the movement has grown almost steadily, and we find this week that many stocks and bonds have been pushed upward to the highest figures yet made. It seems evident that the power of the immense bank surplus, when once set in motion, and the extent, of the public hunger for stocks and bonds when once excited, had both been underestimated, and there is little doubt that the heaviest professional stock operators have been as much surprised as any one else at the breadth and staying power of the present boom in securities." After the 20th of November there were occasional reactions and some irregularity till the close of t_h e year, but nothing which amounted to a considerable set-back, and the year closed with all the benefits of the great railroad negotiation fully sustained, and the ability to sell at the Stock Exchan~e any reasonable amount of stocks or bonds at prices vastly better than those ruling before the settlement of the trunk line difficulties was foreshadowed. Pursuing the course of the year from its opening we observe that in January depression and dulness were the rule; the trunk line war was rife ; the coal combination, to make up for the withdrawal of the Pennsylvania RR. Co .. alloted an extra. 1,000,000 tons of anthracite for the year, making 81,000,000 tons in all; Houston & Texas Central and East Tennessee Virginia & Georgia defaulted on Jan. 1. In February the depression continued except on a speculative rise lasting about ten days and led by Del. Lackawanna &West.; the Central Railroad of New Jersey defaulted on its coupons; the House of Representatives declined to act on the bill to stop the coinage of silver ; the Southern railroads had the benefit of the New Orleans Exposition. In March, April and May there was little animation, and the varying rumors of war between Russia and England had much to do with the course of our markets, The Nickel.Plate road went into receiver's hands in April and defaulted on the first mortgage interest due June 1; the New Y()rk Central, St. Paul and Omaha dividends were reduced ; Pacific Mail rose sharply on the passa~e of the postal subsidy law, but fell off again quickly, and m June also was weak on the loss of the Steamer Tokio and the refusal of the Postmaster•General to pay the extra amounts provided by the 11ew law for carrying the ocean mails. The Ohio Central was foreclosed in April ; Chesapeake & Ohio defaulted on one half the interest on its " B " bonds due May 1 ; Missouri Pacific settled the old Garrison suits in full ; Lake Erie & Western went to a receiver in May; negotiation11 were pending for a lease of Oregon Navigation to Union. Pacific and Northern Pacific. All was stagnation and depression at the Stock Ex:chan~e until the middle of June. After the middle of June. as above remarked, the situation ch~nged for the better. But the N. Y. Central quarterly dividend was reduced to½ of 1 per cent, and in August and September the Northwest preferred was reduced to 7 per cent per year, and inferentia1ly the common to 6 per cent; Lehigh Valley to 1 per cent quarterly and Lackawanna 1~/4(. The Union Pacific effected a sale of securities in Sept em her sufficient to clear off its floating debt; St. Paul voted to issue $5,000,000 new preferred stock at par. In October the Erie loan on Long Dock property was reported; the New Y ork & NPw England cleared off its fl.oatiug debt by isiming about $1,800,000 preferred stock, ann the receiver was discharged about the close of the year; the Baltimore & Ohio made its arrangement in November for termini-¾ ]s on Staten Island; the West Shore road was sold in foreclosure. November 24, and the new company organized in December. Mr. W. Ii. Vanderbilt died on December 8. The Texas Pacific stock collapsed in December, and a receiver was appointed for the road on the suit of the Missouri Pacific RR. Co., a large holder of its floating debt  PRICES OF' RAILROAD AND MISCELLANEOUS STOCKS. The following table!'! , show!ng the highest a:nd lowest p rict>!'i of ra.il road ~ nd mis1.Je1laneo us stocks in New York, for each month of the l~st five ~e~:8• are compiled fr :Jm sales motde at th~ New Y(:rk Stock Ex.ll ha.age. 'L'lw c ,m ~iihtion is ma.de from suc:h prfoeli a:1~constitute a tau ~tandard of marke ~ valu.H, a 1d Ral e!i ur i-; t )llk 1.1 lt) J -Jhare loc::; or u _.; wJ. r J.d are taken, ex.llet>t in the ca::ie of t, 1, •HH fo w stock8 which sd l alm<1st en•1rely li1 HHH ll luts. 1881. JANUAR Y F E BR'RY .  STOCii.S .  -- ---  M ARC H.  A P R I L.  MAY.  J UNE.  J ULY.  A UGUST. S E PT' B ER. O CTOB ER. N0V'B E R. DEC 'BER. --r--  - --  L ow.Hi~h L ow. H igh Low. High L ow. High Low. High Low.Hig h L ow. High Low.High L ow.High L ow.Hig h L o w. H igh Low. High  RAILROAD, A lbo.ny & Susquehanna. . 120 Boston& N. ~. Jlit·-L . .. ....   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  - --  =I~~~:(~~  - 122 120 - 123 122½- 123 - . ... ... . - . ... -  ...  123¼- 131  127 - 130  .... - . ... 125  -129  :28 -128  .... ... . - .... .... - .... .. .. - .... .... - . .. . .. .. - ...  . .. . - ·• · · 183 - 133 126¾-185 26½- 30 . · •· · 25 - 27  ... -  RAILROAD .AND MISCELLANEOUS STOOKS. 1881-Continued. JANUARY FEBR'RY.  STOCKS.  MARCH.  APRIL.  MAY.  JUNE.  46 - 48  48 - 60  JULY.  AUGUST. SEPT'lJER. OCTOBER. NOV'BER DEC'BER.  - - - - - - - - - - - - - - - - - - - - 1 - - - -1- - - - - - - - ,_ _ _ _ ,_ _ _ _ , _ _ _ _ - - - Low.High Low.High Low.Jiigh Low.High Low.High Low.High Low.High Low.High Low.High L ow.High Low.High Low.High  -------------Bol!lt.&N.Y.AirL. pf.. 46 - 48  48 - 52½ 46 - 48½ 45 - 48  67 - 71¼ 56 - 67  6! - 67  60 ·· 66½ 59 - 65  60¼- 68  Buff"alo Pitts. & West.* 39 - 43 87 - 42 39 - 80 42 - 43¼ 40 - 44 4~¼- 48% 43 - 46¼ 42 - 4!!½ •.•• - •••.••.• - ••.. 45¼- 60 .• . . - .... Pref... . . . .. . • .. . . . . . . .. . . .. . .. . - . . .. 60 - 60¾ • • . • - . . . . • . .. - .. .. .. . • - . . .. . .. - . • .. . • . • - • .. . . . • . - . • .. . .. - .. .. . . . • - . . . • • .. • -· • . .. . .. • •. • .•• Bur. c. Rap. & North... 73 - 81 69 - 78¼ 69 - 76 70 - 72¼ 75 - 00 80 - 83 80 - 83 75 - 80~ 78 - 81 75 - 79 80 - 82 80 - 82 Canada Southern....... 69¼- 90 66 - 89 76 - 837,( 71\)ii- 81¾ 75¾- 82)4 64¼- 79¼ 62¼- 69 fl2½- 68 63 - 67¼ 55¾- 65¾ 60¼- 65 50 - 63~ Cedar Falls & lUtnn .. . .. 16 - 25¼ 19½- 26½ 20 - 27 20 - 24 22 - 40 83 - 40½ 25 -· 84 21 27 25 - 27 20 - 26 24 - 24 19 - 21 Central Iowa .... ... . ,..... 36½- 44 81 - 31 . . . . - . . . . . . . . - . . . . 45 - 4~ ~ - 8~ . . . - . . . . . . . . - . . . . 88 - S8 Si¼- 37½ . . . . - . . . . 84 - S8 1st pref............... . . . . 76 - 79½ . .. . - . . . . . . . . . . . . - . . . . .. . . - . . . . . . . . - . . . . .. . . - . . • . . . . . - . .. . . .. - . . . . . . . . _ . . . . . . . . _ . . .. . . . • _ .. .. 2d pref. . . .. . . .. . .. .. .. . . . . . . . . . - . . .. . . . . - . . . . .. . . - . . . . . . . . - . . . . 50 - 50 . . . . - . . . . . . . . - . • . . . . . . - . . . . . . . • - . . . . . . • - . . . . . . . • - . . . . . . . • - ..•• Central of New Jersey. 82½- 94 907,(-112 96½-109 92¼-103¾ 07¼-106,\4 997k104~ 89¾- 102% 80 - 087-1 91¾- 98¼ 89¾- 97,t; 92¾-- 97¾ 8~- 96½ Central Pacific .. .......... e6 - 98¼' 80½- 93>.( 83½?- 89½ 83½- 89 86¾- ll8¾ 94½-102¼ 89¼;-100½ 87½- 04 88½- 98 90¼- {)6¾ 93 - ~ 88¼- 95¾ Chesapeake & Ohio..... 20¾- 25¼ 22 - 26¾ 23 - 26¾ 24 - 25¾ 26¼- 33;-1\ 29.J.4- 81¾ 24 - 80½ 25 - 30 26¾- 80¼ 27 - 29 25½- 2il½ 24¼- 27'4 1st pref................... . 32¾- 86 83½- 87½ 84 - 45 40 - 44¾ 43½- 48¼ 44½- 47¼ 85 - 45¼ 87 - 42 89 - 43 88 - 41½ 88½- 41¼ 84 - 40¾ 2d pref . . . . . . . . . . . . . . . . . . . . 28 - 27 23¼- 27¾ 25 - 83¼' 28¾- 83 82½- 867,f 32 - 84¾ 27 - 82 26 - 81¾ 28¼- 82 29 - 31¼ 28¾- 81)4 25 - 297,4 Cbicai:o & Alton .......... 140 -156 xl84-150.!,.1136 - 144 132 -140½ 185 - 147 189 -•147 185 -142½ .x:127-143 128 -132¾ !27 -130½ 129¼-137½ 127¼-184 Pt·ef........ ................ 153 -158 149½-149½ 140 - 140 145 -145 147 -147 150 - 150 . ... - . . . . . . . - .... .... - .. 140 -140 .... - ........ - . ..• Chic. Burl. & Quincy . .. 167¾-182¼ 160 -175 161½-16l>¾ 162 -166¼ 165 -173 162½-171 154 -165¼ 149 -161½ x147½-16U t136 - 160 186¾-145 x:188½ 89¾i Chic. & East Illinois. . .. . . . . . ... .... - . . .. . ... - .. . . 00 - 00 00 - 05 ... . - ..... . .. - . . . . . . - . . . . . .. - ........ - ........ - . ....... - ... . Chic. Mil. & St. Paul.. .. l01-.l7_£-124¼ 101½-117½ 106 -114½ l08 -113¼ 112%-129 120 - 129¼ 107½-128¾ 110¼-116¼ tll½-122¾ 106 -·112)4 10(>¾-110½ 102¼:-1Q87_4 Pref........................ 12~ -132 117 :-126½ 120¼-126 119¾- 126½ 125¾-140 132 - 135¾ 128 -188¼ 129½-138¼ t124¾183¾ 116¼-124½ 119¾-125¼ 117 -121 Chic. & N o..-thwest ....... 123~-186 117 -134¼ 119 - 125½ 119}4-124"'~ 124¼-135 x24¾ 132¾ 121 -181¼ 122 -127¾ 122¾-127¾ 120%-126¼ 1~-130¾ x:123-180¼ Pi·ef.. . ..... .... ..... . .... .. 139¼-147½ 131¼-145 x:31¼-188 131¼-137 187½-146 137½-144 136 -145 1$5¾- 140 185½- 140 131½-186¼ 185,\4- 144 186 -1433-l Chic. R. I. & Pacific ..... 184½- 142 129 -139¾ 180 -136¼ 182¾-138¼ 187 -148¾ 142 - 146½ 183 - 144 131)4-139 132½-189½ x:131¾-3~ 188¾-137¼ 182 -1~ Chic. 8t. Louis & N. O... 40 - 57½ 52 - 65¼ 66 - 75 78 - 77¾ 76 - 88 79¼- 85 75 - 88¼ 78 - 81 77 - 77 78½- 80 78 - 86 80 - 84 Chic. St. Paul M. & l) ... 45 - 51 40.¼- 49¼ 40)4- 46¼ 40¼- 43¾ 41¾- 47¼ 42¼- 46% 88 - 44¼ 36¼- 42½ 88¾- 45¾ 83¼- 48¾ 88¼- 42~ 88½- 40 Pref. ..... . . .. .. .. .. .. . . . .. 95 -109½ 91 -107½ 96½-103¼ 93¼-100~ 97¾- 108¾ 105 - 108¼ 98 -107 99}.{-105¼ 101 -108½ 100 -105¾ 100¾-104 09}.(-108)4 Cin. Sandusky & Cleve. 44 - 40}s 41½- 47¾ 42 - 63 58 - 05 fl2 - 67¼ 62 - 68¼ 44½- 05½ 45 - 54 47).li- 51 45½- 55 48 - 64 50 _ 59!,f; Cleve. Col. Cin. & Ind .. . :x:88 - 97¼ 81 - 92¼ 85 - 00½ 85 - 90¾ 87 -101¾ 93 -100)4 89 - 96½ 81 - 04¾ 84½- 90¾ 89)4- 98½ 90½- 96 82¾- 93½ Cleve. & Pitts., guar .... 127)4-184 128:1,(-131 129¼-182¼ 132 - 182¼ !85)4-142 188 -140 139 -140½ 137 -137½ 184½-188 185½-140 188)4- 139¼ 184 - 137¼ Columbia&Greenv., pf• .... - ...... - .... . ... . ... . ... - .... .... - ........ - ....... - •··· .... - ... ... .. - •··· .... - ........ - . .. 82 - 95¼ Col. Chic. & Ind. Cen.... 19¾- 27¼ 21,\4- 27~4 22¾- 2J½ 22¼- 26 24¼- 82¼ 23 - 80% 20 - 25¾ 18¾- 23¼ 20½- 22¼ 19 - 22¼ 19¼- 22¼ 19¾- 22¾ Danbury & Norwalk .... 70 - 70 73 - 76¼ 70 73 . ... - . ... 60 - 77 70 - 72¾ .... - .. ..... - ........ - ... .. ... - .... 70 - 70 .... _ ... . Del. La.ck. & Western .. 107 ·:x:25¼ 114½-128¼ 117¾-131 xl5¾-x23 117hj-128 121)4-128¾ 118 -125 119¼- 125¼ 128 -129¾ x120¾ 28½ 124~128¾ 125)4- 129 Denver & Rio Grande.. 82¼- 99½ S9 -109¾ 98 -108¾ 101½-108¼ :j:105¾-111 107½- 113)4 9t~- 110¼ 80 -102¼ 84½- 92)!j 78¼- 86)4 77¼- _86½ 06 _ 81¾ Dubuque & S. City....... 88 - 85 80 - 82½ 79 - 80½ 76½- 78¼ 77 - 88¾ 8:3 - 88 .. . . - . . . . . . . . 86 - 88 83 - 83 83 - 86 88 _ 88 East Tenn. Va. & Ga .... .... - ........ - ........ - ........ - ........ -· ....... - ........ - .. .. 17 - 21 18 - 17¼ 13%- 15½ 14 - 17 18 _ 1~, Pref..... ... . . . . . . . . . . . . . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . - . . . . . .. .. . . . . . . . . - . . . . . . . . - . . . . 80 - 83 27 - 827,i 23 - 29¼ 24 - 28)4 23 _ 25½ l!:1•ie & Pittsburg. .. . .. ... . . . . - .. . . . . . - .. . . . .. . - . . . . . . . . - .... 110 -110 . . . . - . . . . . . . . - .. . . . . .. - . . . . . . . . - • . . . . . . . - • . . . . . . . - . . . . . . . • _ . . .. Evansville & T. Haute .... - ........ - . . . . . . - .. .. . .. - .... .... - ........ - ........ - ........ - ........ - . .. . ... . - . . . . 64 - 64 ...• - ... . Flint & Pere Mai·. pref. . . . . - . . . . . . . . - . . . . 89½- 91 . . . - . . . . . . . . - . . . . . . . . - . . . . . . . . - .. . . . . . . - . . . . . . . . - . . . . . . . - . . . . 94 - 95 . . . . - •••• Frankfort & Kokomo ... 20 - 27 ... - ........ - .... .... - ........ - . .... ... - . ... .•.. - ...... - ........ - ........ - .. .. .... .. . .. _ •••• Georgia RR.& Dki:.Co • .... - ... . ... . - ........ - ..... ... - ....... - .... ... - ...... . . - .... 175 -175 .... - ... . 165 -H15 168 -168 .... _ .. . . Green Cay W.n.& St.P. ... - ... .. ... - .... ... - .... . ... - ........ - . ...... . - ........ - ........ - ..... . .. - ... .. ... - ..... . .. - .... 12½- 19¼ Hannibal & ~t. Joseph. 44¾- 57)4 47¼- 60)4 51¾- 59¾ 56¼- 59¾ 58¾-- 85 82 - 93 89¼- 94¾ 91 - 08 04½- 850 95 -100 94 - 96¾ 94¼- 98¼ Pref ...... .. ...... . ........ . 100½- 110 94 -107% 96 - 105¼ 100 -105 104 -1'6 112 -116½ x107,l4- 118 111,¼- 117½ 112 -121 111¼- 117 109 -114¼ 109½-116 H,ulem ... .................. 197 -197 183 -200 .... - ........ -· .... 250 -~50 250 -250 .... - ........ - .... 215 -215 210 -210 215 -215 205 -205 Houstc;m & Texas Cent. 07 - 78 63 - 75 65¼ - 69¼ 117 - 74¼ 7'J - 98½ 89 -106 97 -102½ 89 -100 90 ·· 95¼ 82 - 98 87 - 98 86 _ 92 Illinois €entral. ....... . .. 124 -185 126 -188 129¼-137¾ 183 - 188½ l?,J¾-146½ 137½- 145)4 184½-142 xl24½ 88)4 126)4- 183¾ 128)4-181½ 18(%-187½ 128¼-184xS Ind. Bloom. & West . .. . 50½- 75 ;56½- 78 60 - 83 82 - 100½ 06 - i}6 .... - ........ - ........ - .......• -· ... . ..• - ... .... - .. . . .... _ New. . ........... . ..... .. .. . . ·· .. .. .... - .. ·- . . . . - .. . . 49½- 50¼ 48)4- 57½ 51½- 56 45 - 53¾ 88,i-- 51¼ 41½- 48¾ 41 - 46 44½- 55¾ 43xS- 52)4 Jnternat. & Gt. North.. 50 - 65 63¾- 7!½ 67 ·· 69 69 - P.i.¼ 92 - 92 .... - ........ - ........ - ........ - .... ...• - ........ - ........ _ ... . •Joliet & Chicago ......... 130 -130 .... - ........ - . ... .... - .... ... . - . .. . 186½-186t,a .... - ........ - ........ - ... ... .. - ........ - •. ...... - .. •. Keokuk & Des Moines. 14 - 24¾ 19 - 24 14 - 19 17¼- 19 17 - 80¼ 25 - 30¾ . .. . - . . . . 27½- 28 19½- 20 19!,(- 20 19½- 24 18 - 20 Pref. ... .... , . . . . . . . . . . . . . . 4L - 56 53 - 56 48 - 43 4.B - 48 52¼- 54 1'>5 - 55 50 - 52¾ . . . . - . . . . f:O - 52 50 - 50 50 - ;;1 51¼- 52 Lake E1·ie & Western... 88½- 00 49½- 59½ 50¼- 5&¾ 45¾- 54 49¼- 64¼ 57¾- 6594 52½- 62½ 47¾- 58 48½- 56½ 41½- 48)...i 48 - 47½ 32 - 45½ Lake Sho1·e .... ............ 127:¾;-1S5~ 118 -133% 123½- 188¼ :x:22¼·131¼ 126!,s-135½ x25¼184)4 120)4-127¼ 12l¾- 126¼ 122¼;- 127¾ xl17-125}1i 119)4-128¼ :xl12¾ 22¾ Lonir Island . ............... . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . . - . . . 44 - 63 60 - 63 44 - 50 47 - 58 51½- 55½ 55 - 55½ 49 - 54¾ Louisiana&lllissouriR 16¼- 26 19 - S8 20 - 85 24%- 27½ 20¼- 34 22 - 82 .... - •. . . 18¼- 20 18 - 28 18¾- 19 ...• - ........ - ... . P1•ef. . . . . . . . . . . . . . .... . . . . . . . . . . . . - . . . . . . . . - . .. . . . . . - . . . . . . . . - . . . . . . . . - . . . . 42 - 48 . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . - . . . . . . . . - . . . . . . . . - .. . . Louisville & Nashville. x87 - 94½ 79 - 94¾ 85½- 95 90½-101½ 99½-110¼ 106 -109¼ x08¼ 108¾ 90 -104¼ 92½- 99 90)4- 96½ 91¼- 100¼ 99 - 108¾ Lonh1v.New Alb.&Cbic. 58 - 77 75 - 77 70 - 73 6~ SQ½ 82 - 102¼ 100 -117½ 88 -103,4 80 - 99½ 75 - 75 50 - 75 05 - 84¾ 74 - 80 Manhattan Elevated .... 82¾- 40¾ 85¼- 46½ 35¼- 42½ 21¼- 89 22 - 29¾ 24 - 80¾ 15¾-- 26¾ 15¼- 21½ 19½- 25 17¾-- 55 50 - 59½ !"2:J<- 58 Manhattan Beach Co... 84 - 80 84 - 35 84 - 43 42 - 58½ 50¼- 59¾ 44¾- 57½ 82 - 48 23 - 86 27¼- 80 18 - 26¼ 21¼- 25½ 23 - 84 Mar. & Cin., 1st pref.... 9 - 14% O - 14 10½- 12½ 12 - 22 17 - 24 16 - 21 12 - 16 11 - 14½ 11¼- 20 16 - 21 17 - 18½ 16 - 18 ~d pref. .. . .. ............... 6 - 9¼ 7 - 8¾ 7 - 7¾ 7)4- 14½ 11 - 15 10 - 15 8¼- 12½ 6 - 10,½ 8 - 18)4 9 - 12 JO - 10¼ 7 - 9 Memphis & Charleston . ... . - .... 41 - 42½ 42 - 42 42 - 57½ 61 - 90~ 80 - 93 68 - 87¼ 70 - 85 75 - 80 72 - 78 67 - 86 69¾- 79¼ Metropolitan Elevated. 104 -117 118 --126 lll½-122¼ 85¼-116 86 - 95 87¼- 98 80 - 84½ 78 - 85¼ 77¾- 87¾ 83¼- 99¾ 95 -105½ 83¾- 97 Michigan Central.. ...... 120 -126¼ 108 -122 108¼- 114¼ x03¼ 113¾ 108¼-116¼ 103½-114½ 96¼-106¾ 91)4-101¾ 91¾- 98% 86 - 96 83¼- 95¾ 84¾- 9~ Milw. Lake S. &'\V. prf• .... - .... .. .. - . . . . 42 - 45½ 44½- 52¼ 51¾- 64¾ 58½- 64¼ 49 - 62 43¼-- 54¾ 44 - 54¼ 411¼ ~2 47¼- 54½ 45 - 51!,:( Mihvaukee&Northe1·n . .. .. - ... .. ... - ........ - ....... - .. .. 53 -59 58¼-58½ .... - .......• - ........ - •... .. . .... 89 -54 .. - ... . Mlnneapoli8 & St. L.... . - ........ - ... ..... - ........ - ........ - ..... . .. - ....... - .. ...... - .... . .. . - ....... - . .. . 28 - 80½ 28 - 80 Pref . . . . . . . . . . . . . . . . . . . . . . . . . - . . . . . . . . - . . . . .. . . - . . . . . . . . - . . . . . . . . - . . . . . . · · . . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . 70 -· 70¾ 62½- 70 MlHourl Kan & Texas. 40½- 48 89¼- 50>-R 42½- 47¾ 43 - 47¾ 44½- 54 49 - 53¾ 40!4- 51¾ 87 - 45¾ 39¾- 44 86¼- -iZ¼ 88½- 44½ 84¼- 41~ Missou1•l Pacific .......... 85 - 90 .. .. - ..... . .. - ........ - ... 94½-110 106¼-114½ 101)4-ll2¾ ·~98 -110¼ 101¾-108¾ 102 -106¾,103½-108 x9SJ.s-107 Mobile & Ohio.... . . . . . . . 20¼- 27½ 18¼- 25¼ 20¾- 26¾ 24%- 80¾ 30¼- 89 82¾- 89¾ ::n - 80¾ 81 - 37½ 82¼- 88¼ 84 - 89 86 - 89¼ 82¾- 87!,( Morrie & Esi;iex ....... ... 119 -·124¾ 118 -124 119 -122¾ 120).i-124 123 --130 124½-131 122 -127½ 119¼-126)4 128 -125¾ 122¼-126 1124½-126¼ 121 -127 Nasbv. Chatt. & St. L ... 68 - 75¼ ·70 - 93¼ "12 -102 76 - 86 85 - 05 84 - 05 75 - 90 80 - 91 84½- 91¼ 79 - 85¼ 81 - 89 82½- 91½ N. Y. Cent. & Hud. Riv. 147½- 155 140 - 151¼ x4.!¼ 148¾ 140¼- 147 145 -152¾ x45 -151¾ 141¼-140¾ 141½- 145¼ 141~145½ 185¾-142½ 186¾-140¾ .x:180¼ 89¾ New York Elevated ..... x28 -128 120 -180½ 123¼-1!!7¼ 105!,s-125 108 - 111½ 105¾-113½ 104¼-lll½ 96 -108 07 -111 107 -119 107 -111¾ 100 -109½ N. Y. Lake Er.ie &West. 47¾- 52½ 43¾- 50¼ 45½- 40¾ 44¾- 48~ 47 - 51¼ ~ - 50¼ 41!4- 47¼ 41¾-- 44¼ 42 •· 46¾ 41¼- 45½ 44½- 48¾ 39¾- 46¼; Pref... . ... .. .. ........ 88 - 95 82),fr- 92½ 84 - 90¼ 84 - 89 88 - 02¾ 86 - 91¾ 80½- 88¾ 81¼- 88 82 - 91 84½- 88¼ 88½- 96½ 89 - 1)4¾ N. Y.&N,:,wEn~h1.nd .... . . .. - ........ - ... .. ... - ... .... . ·· . ... 60 - 65½ 84¼- 84¼ 81)4- 81¾ .. .. - . .... ... - . ....... .. 72½- 72½ ..• - ... . N. Y. N. Haven & :I:a.rtf. 178 -180 177½-180 164¼- 180 173 -180 180 - 185¼ 185 -190 181 --185 184 -185 181½-186 170 -181 170 - 175 170 -176 N. Y. Ontario & West ... 28 - 427A 30½- 43½ 33¾- 88½ 32¾-- 88 84¾- 40 85½- 88¼ 28¾- 87¼ 27~.r 831,i 21-.l - 84¾ 80 - 84.J.4 80J.:(- 88¾ 25¾- SI!!( Pref . . . . . . . . . . . . . . . . . . . . . . 8C - 00 80 - 80 . . .. - . . . . . . . . - . . . 70 -· 70 90 - 00 . . . . - . . . 85 - 85 88 - 88 . . . . - . . . . . . . • - . . . . . . . . - ... . Norfolk & Western ...... .... - . . .. ... - .... ... . - ....... . - ........ - ........ - .. . 23¼- 25¾ 25¼- 26 24¼- 26 25 - 25 25 - 26½ .•.• - ... . .Pref. . . . . . . . . . . . . . .. .. . .. .. . . . . - . . . . . . . . - . . . . .. . . - . . . . . . .. - . . . . 61 - 70 60 - 66J( 53¼- 62¼ 58 - 68 53 - 60 58 - 58 58 - 61¾ 55¼- 60 !forthern Pacific.......... 82¾- 87½ 85½- 47¾ 87¼- 51 88¼- 46¾ 42½- 46¼ 42½- 46 35 - 45).s 87¾- 42¼ 88¾- 41 86½- 89¾ ~ - 48½ 88¼·· 40 Pref............ . . . . . . . . . . . . 64¼- 6T~ 64½- 77¼ 66 - 76 68½- 75½ 72 - 85 82¼- 88¼ 73½- 86½ 76~ 82¾ 78¼- 82¾ 76¼- 80¾ 70¼- 86¼ 68¾- 81¾ Ohio Central............... 23¼- 83¾ 25),,- 85 28 - 84¼ 28 - 31¼ 29¾- 37% 84 - 37¾ 24½-· 83%; 24 - 29½ 25 - 29¼ 25 - 28½ 25¼:- 28 21 - 27¼ Ohio & Mississippi.... . .. 86½- 45 86½- 46¾ 41¼- 46¼ 40~ 4491< 43¼- 4'77/4 40 - 46 80 - 42¼ 85¼- 39¼ 86¾- 60 89 - 46¼ 40¼- 42¼' 85 - 40¼ Pl·ef.. ...................... 07¾- lll 102 -112½ 104~-lJO 102 -106½ 108}4-126 110 - 119 108 -116 100 -105 lOfl¼- 118 106 -110¾ ...• - .. . . 104 -107 Ohio Southern .... .... .... .... - . . . . . . - . ....... - ........ - ........ - . . . . 82¼- 87½ 29 - 34¾ 23 - 28¾ 23 - 28 18 - 25 21 - 28 23 - 27¼ 01•egon & Transcontin'l . . . . - .. . . .. .. - . . . . . . . . - . . . . . . . . - . . . . . . . - . . . . . . . . - ........ - . . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . . . - . . . . 64 - 88 PaRama .. .................. 219¼-281 226 -226 225 -.228 237 -258 247¼-270 270 -280 256 -261 . . . . - . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . . - .. .. Tru!it certificates .. . . . . .. - . . . . . . . . - . . . . . . . - . . . . . . . . - . . . . . . - . . . . .. . . - . . . . . . . . - . . . . . . . . - . . . . . . . . - ... . 190 -200 190 -200 197 - 197 Peoria Dec. & Evanl!lv .. 27¼- SO¾ 82 - 44½ 85½- 42 3fl¼- 40 89 - 47½ 1·45 • 57¼ 88 - 51½ 82!1(- 42¾ 84¼- 48¾ 36¼- 42¾ 87¼- 44½! 34 - 4034 Phila. & Reading... . ... 51¾- 70 50 - 78½ 157!4- 71 51 - 65½ 53 - 62 56¾- 02 56½- 61 59¼- 67½ 59 - 73 62 - 74¾ 64¼.- 687.i\ 63¾- 71¼ Pitts. Ft. w. & c., sruar. 127 -184 180 - 184 131½-184 120 -132¾ 184 -142 185 -141 137 -140½ 140 -140 188 -141 188 -188 186½-139)4 184¼-188 Beens. & Sarn.to~a ........ 100 -185 184 -136 J.31 -131 14.0 -140 138 -145 146 -146 .... - ... . 188 -142 140 -140 140 -140 140 -140 1144 -144 Riehm.& AI., st. tr. etfs. . . . . - . . . . . . .. = .... .... 68 =80 52 - 74 40 - 59 41½- 40¼ 35 - 43¼\ 88 - 44 37 - 47 Richmond & Danville.. . .. - . . . . .... ... .... ... . . . .. . . . . .... .... . ....... - ... , .... - ... .. ... - . . . 90½-104¾ 104½-120½\119 -171 Rlehmond&WeatPt ....... - ........ . . . . . . .... - .... . . .. - ...... .. - ....... , - ........ - ........ - ..... .. - .... 122 -124 122 - *174¼  = .... .... = .... ... _- ....  1  • PreTIOUB to Feb 10 aold u.s PlttsliUr'f Titusville & Dulftl.lo.   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  -t Lowest IJ e:t-l'.)riTllege.  *Elx-prfTllego.  RAILROAD AND .MJS<JELLANEOU S STOOKS. 1881-Concludcd. 1  STOCKS.  JANUARY FEBR'RY.  MARCH .  APRIL .  MAY.  JUNE.  JULY.  AUGUST. S"EP'l·'BER. O CTOBER. Nov' BER.  DEC'BER.  - - -· _ _ _ _ _ Low.High Low.High Low.High I.ow.High Low.High Low. High Low.High Low. High Low. High Low.High Low.High Low.High  Rochester & Pittsburg. . . . . - . .. . . . . - . . . . . . 26 - 29 26¼- 81½. 22 · W 26 - 81 28¾- 38½ 86¼- 50 87¼- 40 25¼- 45¼ 29 - SS Rome Wat. & Ogdensb. "28 - 38 80 - 30 so - 86 so -40 24 -30~ 25¼- 26 25 - 28¼ 80 - 86" 89¼- 50½ 88 - 40½ 80 - 83 .... St. Loui8 Alton & T. H. 40 - 54 89 - 52¾ 40 - 48 49%- 60¾ 58 - 59 47 - 51 48 - 5'?¾ u5 - 77½ 61 - 70 45 - 65¼ 89 - 54 44 - 57 Pref........ .. .......... .... U0¾-135% 113¾-140 l18J.frl83 125 -129 x97 -143¾ 95½- 98¾ 86 - 95 92½- 97½ 90 - 96 90 -97 98 - 99¾ 85 -94 St. Louis I. Mt. & South. 52¼- 62½ 52~- 66½ 58 - 65% 62¼- 66% 64¼- 82 79½- 86½ 83 - 83 . . . . - .... ... . St. Louis&S. Francisco. 44½- 51 42 - 49 89 - 43 40 - 46 46 - 49 48 - 55 45¼- 52½ 43:)(- 50¼ 44 - 47¼ 40 - 45¾ 42¾- 47 89 - « Pref... . ... . . .. .. ... . . . . . . . . 61 - 71 61 - 6~ 62½- -00 62 - 68 68 - 75 74¼- 81¼ 71½- 787A 68 - 76 70 - 75½ 66 - 74½ 65 - 72 55 - 6~ 1st pref... . ... .... .. .... . ~7 -102 90 - ~ {J3¼- 00½ 95 - 98¾ 100 -110 110 -115½ :x:105 - 115 104½- 109}<f 105 -108¼ 104 -108¾ 105 - 109 103 -107 St. Paul & Duluth .. ..... 84 - 41 26 - 40 38 - 89¾ 86 - 89¼ 38 - 42½ 35 - 89¾ 85 - 85 81 - 82 28 - 85 - .... 80½- 81 26 - 20 Pref.. . ... ... . . ... . .. .. .. . . 71½- 75 70 - 73¼ 78 - 84¾ 81'4;- 89½ 85¼- 89 86 - 8U 82 - 88 80 - 88 x79¼- 79,i 73 - 78½ 74 - 75 St. Paul Minn. & Man.. 88½- 90 811¼- 98 91 - 92 91 - 92 91 - 98¾ 99 -1()()7A 100 -107 100 -104 101½- 104 102 -107½ 107¼-118:)4 109¼-118¼ Scioto Valley ............ .. .... - ... . .... - ... ... . - ........ - . . .. 48½- 44¼ .... . . ... - .. ... . .. - .... SO - 82½ ... SecondAve. (~.Y.City) ..... - ........ - ..... ... - .. .. . ... - ...... .. - .. . .... - .. . .. .. . - .. .. 126 - 126 126 - 187½ . .. . 'Texas & Pacific.... . .. .... 41½- 158 49 - 61¼ 53 - 58¾ 54 - 68¾ 60½- 68% 65½- 73¾ 52½- 68¼ 48½- 59½ 51¼- 54¾ 45¼- 54½ 51¼- 59¾ 48 - 55¼ Texas & St. Louis.. . .. .. . .. . - . . . . . . . . - . . . . 41:J:{- 47¾ 45 - 47 45¼- 45½ . . . . - . . . . . . . . - . . . . . . . . - . . . . 82 - 35 80 - 80 Toledo Delphos & Burl. . . . . - . . . . . . . . - . . . . 23 - 84¼ 26 - 28 7 27 - 38 82 - 86¼ 27 - 84 25¼- 29 25 - 27¼ 20 - 25 1().Ai- 24½ 15 - 20½ Union Pacific .......... .. . . 107½- 123½ x05¼- ~¼ 118 - 124 114 -121¼ 117¾-127½ 124:)4-180¾ t122¾ 81¾ 118¾-127½ 119 -12'1¾ 116¼-122 117 - 121¼ 114¾-1 ~ United Cos. of N. J ... . ... .... - ..... . . . - ........ - ....... . - .... 186 -186 .... - ........ - .... 191½-191~ 190¾-l.OO¼ 185 - 185 182 - 182 ... . - .. . • Wa.b. St. Loni8 & Pac.. 42¾- 50¾ 89 - 51¾ 43¼- 48 42½- 48¼ 47¾- 58 52¾- 60 48¼- 59% 45¾- 54¼ 46:)(- 53¼ 46½- 50¾ 44 - 49¾ 88¼- 44¼ P1·ef.. .... .. . . . . . . . . ... . .. . 827,-&- 94 x77 -x92¼ 83¾-- 907,/4i 86¾- 92 88½- 96¼ 92¼- 95¾ 86¼- 95-'.)s 81¾- 00¼ 83%- 941}.( 86¾- 91¾ 83¾- 90¾ 64¼· 84% Wa1·ren ........................ .. ...... - ....... . ........ - ... . 119 - 119 ... . TELEGRAPH. American Dist;rict. ..... . 58¼- 71 159½- 74>(" American Union.......... 69 - 96 66 - 85 Atlantic & Pacific. ..... .. 84 - 49¾ 40 - 49 Gold & Stock ................. . - . ..... .. - ... . Western Union.... ... .. 80¼-120¼ 99 - 120 Ex-certif... . . . . . . . . .. . . . . . . . . . - . . ..  61¼- 72 71¼- 80¼ 42¾- 48 150 - 150 104 -118 77¾- 81¼  55¼- 62 46 - 55½ 46½81 - 89¾ ... . - ....... . 47½- 56 55¼- 55½ . . . . 118¾-117% 114 - ¼9¼ 126¾-187% . ... 77 - 82¼ 80¾- 927.Ai 86¾- 94 84¾-  EXPRESS. Adams ............. .. ........ American ..... . ... . . . . . . . . . . United States...... ... ..... Wells, Fariro & Co .•... ..  128 -183 68 - 73¼ 55½- 58¾ 116%-11~  128¾-182 72¾- 80 157 - 6-t 118 -lUl¼  120 -181¾ 128 -184!1( 62¾- 71 65½- 71 51¼- 61 52 - 60¼ U2 -121 117 -120  c52 -:x:68 78 - 80 46 - 48  180 -137 78 - 88½ 61 - 73 117½-126¾  185 83 70 125  - 140 - 87¾ - 75 -142  49  47 - 48  48 - 156¼ 49 - 56  ....... . . ... .... .. ... ... 93¾ 84 - 90¾ 85¾- 92~  184¼-187 80 - 85½. 65 - 71 ¼ 123 - 126  :x:185-141¼ 187 -188~ 83 - 86,ti 86 - 91 66¼- 70¾ 67¼- 70¼ 129 - 187½ 129¾-~  - . . . . 97 · 97  * Ex-privilege.  9 - 9 68 - 68  187¼-153 90 - 97½ 70 - 77 129:)(- 187  .... .... -  148 -147 94¾- 98 72~- 79 lSS¼-135  .. .. -  140 -145 x81f - :JS 73¼- 781' 184 -188  87¾- 40¼ 82 - 86  :&¼- 2¼ 1 - 1%  2 - 2~  1¼- 2¾ 46 - 158% 89¼-~ 33 - 40¾ 84 - 34  .. .. -  4-4 ¼- l 17 - 19½ 14 - 1~  ¼- 1½  2¼- 2½ I'¾- 1¾ 814- S¾ 2'¼- 4 8 - S £0¼- 23 17¾- 219( 25 - 26¾ 18 -26 82¼.... 18%60 4¼.... 44 21¾--  86½ .. . 16½ 64 18¾ .... 44  84 -35 240 -245 12 - 14¼ 158¼- 60¼ 2 - ~ ~ - ~ . . . - .••• .28½ :x:17¾- ~  . . . . - . . . . . . .. - .•.•  - . . . . 61 - 61  107 -111¾ 107¾-110¾ 106)4-110¾ 107¼-111 47 - 49 155½-164 47¾- 58¾ 138¼-148¼ 1¾- 1¾  81 - 50  82¾- 88¼ 84 - 88¼ x77¼- 87  COAL & llUNING. American Coal. . . . . . . . . . . . . . . 60-63 .... - ... . .... - ... . 60 - 65 <Jamcron Coal. . . . . . . . . . . . . . . . . .. .. . .. . 25 - 25 40 - « 277,i- 45¾ 42 - 45¾ 87¼- 44 89¼- 42 82¼- 89¾ Caribou Consol. Mining 2¼- 8¾ 3 - 8 2¼- 2'7Ai 2 - 8¼ 2 - S¼ 8 - 8'7Ai S - S¼ 2¼- 2¾ 2 - 2~ . . • . - .... Central Arizona Mining 4 - 5¼ 4¼- 7 4½- 5¼ 4¾- 5 4 - 4% 4 - 4½ 1¼- 6¾ 2 - 2¼ 1%- 2 1¾-- 2 Colorado Coal &.o Iron ... 85 - 47¾ 40¼- 56~ 46½.- 56¾ 53¼- 58¼ 1>5 - 65½ 60¼- 67 45 - 64½ 45¼- 56½ 49 - 57¼ 47½- 52¾ Consolidation Coal.. . ... 85 - 48 88 - 42½ 87¾- 40 81 - 87 89 42½ 88 • 42¾ 87 - 88 . . . . 38 - 48 80 - 815¼ Cumberl'd Coal & Iron . . .. 10 - 20 Cumb. & Elk Lick Coal . . .. 86 - !?9 88¼-88¼ .. . . Deadwood Mining .... ... 18 - 14 12¼- 12¼ 10 - 11 6-7 9 - 10¾ 8 - 10 7½- 8¼ 5¼- 7 1 - 8x 7¾- 8 Excelsio1· Mining .. .. ..... 6 - 7 6 - 6 5 - S 6 - 5 ¼- 2¼ 5 - 15¼ 1 - 4% 1 - l¼ . . . . 1¼- . 1!'4 Homestake Mininir . . . . . . 2i½- 29¼ 26 - 28 27¼- 28 17 - 18¾ 25¾- 26½ 25 - 25 15½.- 19¾ 18¾- 19½ . . . . 20½- 25 La Plata. Mining . .. ..... .. 9 - 9 .... Leadville Mining .. . ... . . . ... 80 - SO • ••• LittlePittKburg Mininir . 1%- 5¾ S¾- 8~ 8 - 4¾ 8 - S¾ 3~- 4½ 2¼- 4 2¾- 2~ 2½- 8 • • • • 2¾- ~ Maripo a Land & Min'g ¼- S 8 - 7 8 - 5¼ 4¼- 9 5 5¼- 7½ 4 5¼ 2 2 2¼-2¼ 4 Pref. . . . . . . . . . . . . . . . . . . . . . . . 1¾- S 5 - 9 5½- 7 4 4 4 .... 6 - 9½ 7 - 7¾ 3 - 5 5¼ Maryland Coal...... .... .. 25 - 80 19 - :JS 27 - SS¼ 25 - SO 27 - 27 26 - 80 27½- 35 24 - 27 25 - 88 24 - 27 New Central Coal.. .. . .. . 27 - 82 27 - 85¼ 2714- 82 25 -~6 20 - 29 26 - 29:J( 25¾- 28½ 26 - 27 27½- 84 30½- 88 N. Y .& Straitsville Min. 68 - 68 56½- 57 156¼- 56½ . . . • - .. . ... . . Ontario Silver Mining. . SS¼- 84 -88¼ 35 -86 35¼- 86 85¼- 56¼ 86½- 87¾ 37¾- 88 86 -86 86%-87 86 -86 87 Pennsylvania Coal.. . . ... 245 -245 - .... ~1½-241½ 'MO -240 U5 -250 250 -251 254 -254 . . . . - . . . 240 -245 240 - 240 Quicksilver Mining.... . . 18 - 16¼ 14 - 19½ 18 - 15¾ 15½- 20 17½- 19¾ 17 - 20~ 18½- 21¼ x14¼- 20¾ 123,r 14½ 12½- 14¾ Pref... . . . . . . . . . . . . . . . . . . . 58 - 58 56 - 68½ 60¾- 68¾ 62¾- 68 65 - 68½ 61 - 71% 69 - 75¼ :x:67¼- 72¾ 56 - 61½ 57 - 68 Robinson Cons. Miniug .... - . . . . . .. - . ....... - . .. ... .. - ........ 18½- 18¾ SilverCliff'Mininir ....... S¼- 4¼ 4%- ~ 4%- 5¼ 5 - 7 15¼- 15¼ . . . . - . . . . . . • . - . . . . . . . . - . . . . 15¼- 6¾ 6 - 7 Spring lllonntain Coal. . . . . . - ... . . .. . - ........ - .. .. 1•••• - •••• • • •• _ • ••• 46 - 52½ 45 - 47~ . . . . - . . . . . . . . - . . . . 47 - 47 Standard Consol. Min'g x2l¾·x23¼ 23½.•x27 23¼- 26½. 28¾- 25 22¼- 24½ 22½- 24% 22¼- 28¾ 21 - 28¼ 21 - 22¼ 21 - 22¾ Stormont lllinina- . ..... ... 1%- 2% 1¼- 2'7Ai 2 - 2¾ 2 - 4 2¼- 21i 2~- 2% 2%- S 2¼- 2¾ 8}.(- 4 2¼- 8 VARIOUS. Boston Land Co .... .. .. ... IQ¾- 11¾ ... • Boston Water Power . ... 18 - 13 12~- 12~ . .. . Canton Co. . . . ... ........ .. . 5S - 68 56 - 56 60 - 62 60 - 61 56¾- 78 71 - 73¼ ...• - . .• Cent. N. J. Land& Imp. ... - ... .... . - .... 35 - 85 32½- 86 . .. . - ....... . Del. & Hudson Canal... 89¾-109¾ 102 -114 106¼-115¼ 107 -112~ 108%-114½ 108 -112¾ 106¼-110¾ Jerome Park lmpl'ov't .. 84¼- 897~ .... - .... 91> - 90 N. Y. & Texas Land . .... SO - 86¼ SS - 36½ 86 - 86 .... - .... 86 - 45 @¼- 47 46 - 47 OreAron R'y & Nav. Co .. . 135 -167¼ 159¼-190 • 148 -186 185 -158 152 -169¾ 165 -178 xl60-173 Pacific Mail S.S . .. ....... 45¾- 57¾ 48%- 62}4' 53½- 59¼ 45¾- 57¼ 52 - 58'7Ai 50¾- 55:ki 47 - 54 Pnlhnn.n Palace Car .... 140 -151 189¼-144½ 138 -146¼ :x:181-145 180}(- 185 184¾-146~ 142 -144 8uu-o Tunnel.. ... .. . .... $ 1¼- li}s 1 - 1 ~ 1 - 1¾ 1¼- 2½ 1¼- 2½ 1¾- 2½ 1¾- 1¾  50~- 158  106 -108%  .... - . ... 42 - 4.2 88½- 40% 41¾- 4'7;e 155 -169 158¼- ltl7 162 - 174 -165 48 - 52% 47¾-- 51¼ 43¼- 49¾ 89 - 45!,i 180 -145 127¼-183½ 128 -188 ~ - 187 1¼- 1¾ 1~- 1% 1 - 1½ ¼- 1~  *™  -t Lowest is ex-privilege.  1882. JANUARY FEBR'RY.  STOCKS.  MARCH.  APRIL.  MAY.  JUNE.  JULY.  AUGUST. SEPT'BER. OCTOBER. NOV ' BER. DEC'BER.  Low.High Low. High Low. Eligh Low.High Low. High Low.High Low.High Low.l;Hgb Low.High Low.High L o w.High Low.High  -----·-------1 ---- ---- ----  RAILROAD. Allegany Central... . . . . . . . . - .... Albany & Susquehanna. 180 -13-'l Atchison Top. & !'ol. Fe .. .... - .... Boston & N. Y. Air-L .. 82¼- 32¼ Pre f . .. . . ... ... . .... ...... 60 - 66 B11ffh.lo Pitts. & \Vest . . 89~- 89¾ Pref..... ... ........ Bur. c. Rap. & North. . . Bl¼· 85 Canada Southern ....... 51 - 56½ Cedar Falls & lllinn. .... 18¼- 21 CJenu·al Iowa . ... ......... . $3¼- 8i¾ 1st pref............... ........ - .... ~d pref. . . . . . . . . . . . .. . . . . . . . . . . . - . . . . Central of New Jersey. SO - 97 <Jentru.l Pacific ....... .. ... fi7!4- 04!1   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  ... .  180 -132 180 -135 181¼-181 .. . - .... 92½- 92¼ . ... ... . 63¾- 70¼ 62¼- 67 60 - 65 ... .  80 - 85¼ 8:> - 81 72¼44 - 54 44 - 54½ ~6¼15 - 17½ 15 - 23 17 88¾- 841ii 29¼- 84 82½-  .... - ........ .... • . . . - . . . . . . . . - . •• • ••• • 897,i- 97½ 74½- 95 65½~ - 92 87~- 92¾ 88 :  - . . . . 26¼- 84½ 18 - 80¼ . . . 13! - 184 - .... . . .. - .. . . 180 -131½ l81 - 131 - . . .. 84¾- 8i¾ 88!4- 95¾ 94 - 95}4 03¼- 95½ 86¼- 87¼ 84 - 85  62¼- 64½ 64}4- 'nl¾ 76 - 78% 7d½- 80¾ 76:Js- 80¼ 75 - .... . -~ 40¼57 80¼ 75 - 79 67 - 75 75 - 81 79 - 81½ 80 - 84 '?{)¾53¼ 48¾- 52~ 415¾• 54)4 51~- 65¾ 60¼- 65¾ 61:lfi-· &l~ t!l¾20x, 1 19 - 19 18 - 19¼ 19½- 80 21 - 21 25 - 25 >1.- 16 84 .... - .... 2T - 80¾ 80½- 85 81 • .... . ... - .... .... - ........ - ... . .... - . .... ... • •• •• • • - • •• · · · · · - · · · · · · · · • · · · · · · · · 84 68½- 78¼ 64:'¼- 78¼ 75¼- f 5½ 76}.(- 82½ 76 - 82!,,a 70½91¾ 88½- 91¾ 86¼- 92¾ 91 - 97¼ 91¼- 96½ 91¼1- 94% 8{1½-  126 -126 87½- 87¾  80¼ 77 - 80½ 78 - 80½ 44,4 .... -  57 81 72 19 84¾  79 - 81½ 80 - 82¾ 61¼- ~8 05¾- 71¼ 14 - 18 15 - 16½ 28¼- SS¼ 28 - SS  . .... . .. - . . . . .. . - ···· ···· -  75% 68¼- 73 6 92 82¾- 903.4 66 -  73¾ ~  RAILROAD .AND MISCELLANEOUS 5TOOKF. 1882-Continued. JUNE. MAY. AUGrrST. 8EPT'BER. OCTOBER. N0V'BER. DEr.'BER. JULY. ,_____ ,____ - - - - -------1-----1-- -- - - - - - - - - - - - - - - - Low.High Low.High Low High Low.High Low.High Low.High Low.High Low.High T.ow.lligh Low.High Low.High Low.High ·- ------ - - ------------- , Charl otte Col. & Au~ . .. . . - .... 70 - 75½! . . .. - .. . . .. - ... . .... - ........ - .. . . ... - ........ - .. .. .... - . . . ..... - .. ...... - ..... .. . - ... . 22¾- 25¼ 22 - ll4¼ 26¾ 24¼'26¼ 24 25¼ rn;J:£27 22½23¼ 20¼24½ ~O¼-. 19¼- 23 19¼- 24 20 - 25 Chesapeake & Ohio ..... !22,½- 26  STOCKS.  1st pref........ . . . . . . . . . . 2d pref . . . . . . . . . . . . . . . . . . . . Chicago & Alton ......... . Pref........ . .. . . . ..... .. . . . Chic. Burl. & Quincy ... 1  ~i~=:\~: ~::.t::: ~:!~: Pref.. . .. ...................  JANUARY FEBR'RY.  MARCH.  APRIL.  - - - 1 - - - - 11  2o - 34 3;.J - 37¾ 31½- 37 24 - 2G¾ 22¼- 25¼ 21 - 25 128 ~135 x28},i_ 1.35½ 127¼=18~¾ . ... 183 183 . ... .. . . . .. 132]4'-188 128 -136¼ 127¼-185½  27¼, 32~, 23¼ 21 l28½=!SJ 130 ,SO 128½-134¼  28 - 83½ 28 - 31¾ 22 ~- 25¼ 21¼,- 25 rno,½=134½ 120¾=134 .... .... .... .... 1 xl29¼ 83½ 127¼-182  85:J(- 39¾ 88 - 41¼ 80¼;- 40 28¾- 28¼ 26 - 27½ 25 - ~9 183 -14l 188 =145½ ' 88¾-144r.i 146 146 *127 -185 133¾-141 181¾-137  86¼- 40½ 25¼- 29 188,½=142½ . . .. .... 129 -133½  30~- 37½ :M¼- 27¼ 128½=142¼ 140 140 120,½-132¼  88 - 85½ 24¼- 25¼ 18 ,½=185 . . .. .... i21,½-129;J,.!  ios  108¾- 118¼ io9¾=1t3iJoa =112¾ 1i"i111=J22¼ 119¼-125 x07½ 128¼ 107 -111¾ 96½-111 .98¾=109 . . 118¼-122¼ ll~ - 122 120 - 128 127 - 185¼ 134 -J39½ x123-H4¼ 122 -129 114,½- 127 117 -124 l'l5¼- 131¾ 123 - 181¾ x28¼ 132½ 130¾- 188¼ 137 -150 144 -150¾ 142¼-146¾ 129¾-145¾ x30,½x89¾ Chic. & Northwest ....... 136 -141 139½-144 142 - 147¼ 146 -UH¼ 151¾-175 164,½-171 159 -!65 145 -163¾ 150½x57½ Pref...... .... . . ... . ........ 125½- 131¾ 1'28,4-131 % 128¼- 181¾ x20¼ 131½ 133 - 140¼ x33)s l40 130 -134¾ 122 -182¼ 124¾-181¼ Chic. R. I. & Pacific ..... 80 - SH( 82 - 84 76½.- l O 80 - 80 76½- 76½ 75 - 7G¼ 79 - 82½ 76 - 80 74 - 76 Cbic. St. Louis & N. O... 45¾- 58.!,,( 36½- 40¾ 34¼- 41¼ <.o - 52½ 49¼- 55½ 50½- 557-{ 46¾- 52¾ 41½- 50 34 - 89 Chic. St. Paul M. & O ... E3½-117 100¼-108 t04¼-109 113X x08¼ 108½-114=}~ 1.Ll 02 98¼- 105 '. 08¼-103½ 90¼- 108 P1·cf. .... . .. . . ... . . . . .. .. . . . 53 - 58!,:! 58 - 57½ 52 - 02 x48 - 58½ 49 - 52 53 - 59 49 - 52►.,: rn - 55?,ii 50¼- 54 Cin. S:mdn~ky & Cleve. 80¼- 86¾ 70¼- 85½ 75 - 84 80¾- 85 72¾- 02¾ 78 - 89 65¼- 76 t:18 - 77½ 68¾- 7R Cleve. Col. Cin. & fad . .. 134,½-188¼ :36 -137 134¾-188½ 188¼- 140 137 -139 139 -139 188 -140 189 -139½ 188 -140 • Clcvo. & Pitts •• guar .. .. 78½- 78.½ 50 - 65 .. .. - ... . ... . - ... . 74 - 74 62 - 78 61 - 61 .... - . ... 70 - 74 Colum!>in.&Grceuv., pf, 8!11- O¼ 5 - 9¼ 3%- 5~ 10½- 15½ 8 - 14 10½- 13¼ 8¾- 12½ 6 - 9¾ 8¾- 17 Col. CJ1ic. & Incl. Cen . .. 66¼- 67¼ 66 - 67 . . - . .. . ... - .... . ... - .. . . 67 - 68 - ........ - . . . . . . . - . . . . . .. - ........ - ........ Col. ock. Val. & 'l'ol.. 74%- 75 ,5 - 75 70 - 78 - ... 69 - 69 65 - 6.} .... - .... .. . - . .. . .. - .... 64 - 04 65 - 65 Danbury & Norwalk .. .. 65 - 66 Del. L~dt. & \Vcstcrn . . x2:¾-127¼ 121½-128½ 116¼-125X x16¾-125 117¾-122J,.; 118 - 128¼ x25¾ HO 136¾-150 188%-1507'{ x32¼ 139 128½-136¾ 124¼-182¼ 46¼ 38¼53 57%- 63.½ 52½- 60¾ 55½- 65¼ 55).(- 64¾ 56¾- 61¾ 50 - 58½ 88¼Denver & Rio Grande .. 63:n;- 74-)J: 50)!;- 72¼ 52¼- 68½ 58¾-- 67 86 - 89¾ 02 - 96½ 91 - 92½ 87½- 91¼ 85 - Ul 85 - 04 88 - 84~ 84 - 8::i f3 - 88 . ... - . . .. 82 - 85 Dubuque & S . City ....... 84 - 84 9½- 11¾ 9 - 11½ U¼- 11¼ 9¼- 10~ 10¾- 12 9¾- 12¼ 8 - 10¾ 10 - 13 10-U- 13 10 - 14 10 - 15 En.st'i'c1m. \'a. & Ga .... 13¼- 10 . . . .. . .. 23 - 26}{ llJ - 24 l6½- 2-1 19¼- 22¼ 18 - 21¾ 15½- l i½ 8½- 21¾ 17¼- 20,½i 17 - 19½ 15}<,- 20¾ 16¼- 20 17 - 19¼ P :·("( . . . .. .. .. . - ... . .. _ . .. .... - . .. . .. . - ... . . ... - .......• - .. .. .... - ........ - . .. . .. - ... ... - .... . ... - .. . Eliz :i.bct h v:ry ".:: Norf. .. 27 - 27 80 - 85¼ 80 - 86¾ 80 - 82½ . . . . - . .. . Evansville & T. Ilautc 80 - 80 .. .. - . . . . . . - . . . . •. - • . . . 68 - 68 .. .. - . . . . 76 - 77½ 79 - 80 •• • • - ••• • • •• •· • •• • ••• • •• ••• • •••• Flint & Pc1•e lllnr. pref •. .. . - ........ - .... 91 - 91¾ ... 1 - •••• • ••• - •••••••• - •••••••• - .... . .. - .... . •. - .... 87¼- 42¾ 33½- 39¾ 29½- S97,( r h & I euver ..... - .. .. .. . - . .. . ... - .. .. ...• - ... ..... - ... .. ... - . .. Fort ' Georgin RR.&Dlt:;r. o, 1G5 -167½ ... - .... Hl5 -165 .... - . ...... - .. ... .. - ........ - . . .... - .... 150 -155 . •.. - . . . . . . - . . . ... - ... . 9 - 9½ 6 - 8½ 6 - 8 11 - 13½ 8½- 11¼ 8½- 13 8½- 9 10 11% 9 9 - 12½ 10 8 - 18 Green H n.y \ V n.& St.P. 11½- 16 ···· - •• . . • • • • . . . . . . . . - . . . . . . • • - . • . . . . . . - . . . . . . . - . . . . •• . - . . . . . •. . . . . Pref.. . . . . . . . . . . . . . . . . . . . . . . . . . - . . . . . . . . - . . . . 20 - 2ll. 2 . . . . 45 - 45 - 50 .. . . 50 52 47 . ... ........ ........ . . . . . .. . 00 - Pl½ .... - . .. . ... Hannibal & :St. Joseph. 94¾- 96% 91 -110 72 - 88 79 - 88 78 - 8(l½ 77 - 86¼ xSl½- 04¾ 92½- 98½ 85 - 97¾ 75½- 87 Pref. . .. .... .. . ... .. . ... .... 1057-(-111¼ 91 -110½ 76 - 98½i 85 - 94 Harlem .......... ... . ...... . . . .. - .. .... .. - .... 205 -205 .... - .... 205 -205 207½-208 201 -205 205 -205 . ... - . .. 200 -200 200 -200 196 -196 . .. . . ..• - · · ·· - .... .... - .... - . . . . . . . . - . . . . . . - . . . . . . . - . . . Z03 -203 . . . . - . . . . .. - .... - ... .... 1•1·ef. . . . . . . . . . . . . . 78 - S~½ 70 - 79½ 72½- 79 82 - 86 80 - 92½ 80½- 90 72 - 74¼ 69 - 82 61 - 77~-i li9 - 7-:, 62 - 62 Houston & Texas Cent. 80 - 8(l 140½-147 138¼-1411½ 187¼-150½ 1387-(-143½ x135½-143 133½-139¾ Illiuuis C e ntral.. ....... .. 127¾-133¾ x31;1!-137¼ 131 -137¾ 133 - 137 138¾-137¼' 131¾;-185½ 80 - 40¾ 31 - 37¼ 39 - 4.7¾ 42¼- 47¾ 44 - 49½ 40 - 45 SU¾- 43¼ 86¾- 41 Ind. Illoom. & ,vest. . . . 44½- 48¼ 83 - 47 . 36 -.46¼ 39 - 44 40 - 40 . . . . - . . . . 31 - 31 .... - ........ - . . . . . .. - . . . . . . . - ........ - . . . . 20 - 20 .. . . - . ....... - • • • • lndi nap. Dec.& S:>.,Ilf 42 - 42 lnternnt. & Gt. No1·tb .. .... - .. .. .. . . - ........ - .... 68;J,.!- 63;1( .... - . . . .. ... - ... ..... - ........ - .••..... - ........ - ........ - .... · · · · - ·· · · - ........ - . . . . . . . - .... . .. . - .. . . 140 -140 138½-14u . . . . • . ..• J o!iet & Ci.ticago ......... 140 -HO . . . . - ........ - .. ... .. . - ... . 140 -140 - ..... ... - ... . .... - ... . .. .. - ... . 17 - 19¾ 18 - 18 12 - 15 13 - 18 15¼- 17 15 - 19 - . . . 18½- 15 Keokuk & Des llloines. - . . . . . . . . - . . . . . . - . . . . . . . . - . . . . . . . - . . . . . . . - . . . . . . . - ... . Pref.... . . . . . . . . . . . . . . . . . . . {8 - 49 . . . . - . . . . 20 - 20 . . . . - . . . . . . - . . . . 27¼- 33:l-~ &Z¼- 38¼ 25 - 34 37.½- 43¼ 88¾- 43 23}6- 29¾ 28¼- 45 27 - 33¼ 28 - 32 Lake Er·e & \Vcstern. .. 82½- Si¼ 27¾- 34½ 27½- 36 Lake !S!2ore . ... ..... . . . .... 100;.i;-115¼ 108 -116½ 110½- 120¾ xlO ¾-x20 IF¾-104½ 98 -113 x10S -1L7¾ 110½-1177-{ 110½-117 xlO¼ lltS},;i 110¾-l lO½ 112½-11&¼ 57½- 60 61½ 55 63 60 55½- 59¾ 56½- 59¼ 59¼- 65 56½- 00 53 - rn 55 54 49½- 52¾ 50 - 56 Long l sbud . .. .. ... .. ...... 50 - 52 ••. - •.•..••. - . .. . •••• - ..•• 16¾- 21½ 17 - 17¾ 19 - 19 14.¾- 17 15 - 15 17 - 20 L :rnis ·nna& :U:issouriR . ... - . ... .... - .... 16 - 24 i~½=ii~¼ ioo¼=liO¼ 110¾- 123 1120 -122¼ 124 -181¼ 128:k;-136 136½-1-11)4' 139 -145 131 -135 129½-134 80 - b2½ 7! - 84 34¼'- 37½ 29¼- 86¼ 97½-102 {17:),;(-102 to - 57½ 47~- 51 75½- 82 78 - 84 133 -187½ 13t -185 88 -104 87 - 03 1 ½- 21¼ 9.)4- 19¼  L!:f:~ii~·&·N~~i;~1-i1·~: ·02  =100¾ ·07½=  =1isi-.£ 119,½-126 128¼-134¼ 137¾-142¾ 129 -134 68 - 7~ 30¾- 30¾ 08¼- 106;.! 4'1 - 54¼ 74 - 80 138¾- 188 70 - 86 U½- 14½  05%·6;; =63½ ·72½= si¾ · 72¼- 78¼ ·a1 = 7~¼ ·;;,i¾= -:a~ ·10 = 76½ ·6;½= 75½ ·50 = 62½ ~6½= 5a}l49~ 55¾  68 - 77½ 60 - 70 66 - 74 70 - 73¼ 70 - 78 57½- 77 57 - 60 58 - 60 57½- 64 61 - 70 61 - 75 Louisv.Ncw Alb.&Chic. 73 - 75 42 - 48 40 - 51 49 - 53½ 40 - 51 51½- 59½ 49%- 58½ 51¼- 57 47 - 56 48 - 53 50 - 60¼ 44 - 5':l lllan!rn.ttan Elevated ... . 48½- 57 - 87¾ 82 - 87 64 8H1; 87 9l 89½00½ 89 01 90½93 89¾- 01¼ 90 1st 1>rcf. . .. . .. . . . . . . . . . .. . 90 - 98½ 98 - 07¼ 92 - 94¼ 00 - 92 47 •· 50½ 46 - 46 - . . . . 49½- 50½ 40 - 49 - ........ - . . . . .. - . ....... - . . . Co1n1no11 ......... . .... . . . ..... - . . . . ... - ... . ... . 18¾ 16 - 20 15 18 - 24¼ 17 - 19 19,½- 27 31 - 36¼ 30 - 34¾ 28¼- 32¼ 20 - 28 29¾- 37 28 - 34 Manhattan Beach Co... 25 - 30 . ... .. ... - .... .... - .... .... O½- 10),{ 8 - 10¾ . . . . - . . . . 14 - 14 . . . . - . . . . . . . . Mar. & Cin •• 1st pref. ... 15 - Hi½ 11 - 14¼ 10 - 14 4¼ 4 - 5 4¼5 5 7 6 - 6% 6 5½- 9 4¼- 5 4 - 8½ . . . . - . . . 6 - 9 2d 1>ref... . . . . . . . . . . . . . . . . . . 7 - O½ 7 - 9 46¼ 45 58¼ 42¼· 56 48 C2 .. 51 64 55 60 45 44¾- 50 46 - 66½ 50 - 57¾ 54 - 55 Mem1>his & Charleston. 69½- 82¾ 50 - 80 ~•¼- 92 34½- 91 87 - 89% 85 - 88 85 - 8'i 81)4- 65 83 - 00 87½- 92 86 .. 03 77 . 88 82½- 88 Metropolitan Elevated. 84 - 89 92½-103¼ 1)6¾-1()37,i 01¾-104 79 - 87½ 78%- 88¾ 77 - 85¼ 79¼- 88½ 82½- 93;.! E8¾- IOO¼ 06%-101¼ 95·/-105 Micbi~an Central........ 88½- 90 13 - 17½ . . . ..... - ....... - ... 20 . 21 .. . . - ...... .. - . .. . .. - . . ..... . - ........ - . . . . Mihv. Lake Sh. & \V . ... . ... - ........ 46 - 51¾ 43 - 5! ;.4;¼ 40½~8 47¼- 5 ½ 44¾- 49½ 47¾- 55¾ 5$¼- CS¼ 54½42 - 4.8¾ 41¾- 5l¾ 47 - 50 Pref...... . .. ... . ....... ~5 - 52 - 33¼ 27 32 23¼83¼ 29 36¾ 31¼34¼ 82 35¼ 25½25 24 10)4- 10¼ 19 - 25 Minneapol is & St. L . ... 20 - 21 .... - . . . . 19 - 19 69¾- 78¾ 61¾- 71½ 63 · 72¾ 66¾- 69% 67;):!- 77 68 - 63½ 6 .:.7-1- 72 61 - bl ... . - . . . . 59 - 64 59 - 59 Pref........ .. ... .. ... . . . .. . 60 - 61 26¼- 34½ 33¾- 4111'. 37¼- 42½ 87¼- 41/)fl 32½- 37½ 28¼·· 3G½ SO¾- 85 Missom·i Kan. & Texas 85¼- Z0:}6 26½- 38¾ 26¾- 36½ 29 - 85½ 28¼- 38 94¾-107¼ 104:):£-109¼ 106~-112½ 103 -108½ 95¾-106½ 100½-105¼ 88¼- f.16 Missouri Pacific .......... 07¾-104½ 02 -104½ 8i¼ ·Xl01 ¾ 6~- 1:13¾ FS¼- 95 i7 - 10¾ 18)4- 19½ 21¾- 23J-i 2l - 23¾ 20 - 22 22 - 29¼ 22 - 28}4 22¾- 25.'1 12 - 22!4 17¾- 21 . . . . 82¾- 85¾ 22 - 83 Mobile & Ohi o .... - 125¼ 124¾-128 125-¼-128 ,24 -126 124 -126¼ 122 -125 121 xli!l,½26,½ lllorris & E~scx . ....... ... 120½-123¾ 120¾-123 119¾·124½ 122 -124 123¾-12J 52½- 00½ 47 - 55 56:),;(- 60½ 59 - 65¾ 52 - 64½ 50 - 55 54 - 71 lx59½- 69½ 58 ½i- 64J! 52),r- 59 Nashv. Vbatt. & St. L ... 80 - 87~ 62 - 84 N. Y. Cent. & Hud. Riv. 128}4-135¾ 128¼-134 120 -134¼ 125 -183¼ 19.3¾-128½ 125¼-183% 130½-136½ 132¼- ;38 182:):(-137¾ 131¼- 134¾ 125 -132½ 125¾-134~ 14 - 15¼ 16 14 17:>-~ lO}t- 14:ifl 10½- 12½ 11¾- 16¼ 15 - 17:11\ 14%- 17½ 13¾, - .. .. 14½- 16 N. Y. Chic.iaro & :St. L ... .... - . ... . ... - ... . 80 - 83}!\ 27 - 83¼ 27,½- 80¾ 29 - 36¾ 33½- 87¾ 81¼- 37¼ 28¼- 3 ;½ 27 - 35 - . . . . 33 - 85 Pre l. .. •. .... . .. • • • •. • •..... . . . . - . . . . . . . . - . . . . 100 - 10:l .... - .... - . ... 107 -107 108 -109 104 -104 . . New York Elevated . .. . . L05 -100½ 104 -108¾ 104 -107 105 -105 100 - 101 . . N. Y. Lake Ei·ie &West. 88¾- 43¼ 35 - 40¾ 84 - 38¾ 34½- 877/4 34¾- 86)~ 33¼- 87¾ 35%- 41% 33¼- 41¼ 39¾- 43)8 39¼- 43¼ 34¼- 40¾ 85¼- 40¾ 78 - 81¾ 77 - 81¼ 80 - 87}4 83¼- 67¾ 80¼- €5¼ 82¼- 88¼ 69½- 75 72 - 74 78 - 80¾ 67 - i7¾ 71½- 78 . . . . . . . . . . 79 - 85 Pref. ..... . 53 - 00½ 52 - 55½ 45 - 51¾ 46½- 5<»( . . . 51¾- 55 . .. .. . . . - . ... . ... - ........ - ....... . - .. . . .. .. - . . . . . . . . N. Y. & N'!w E~~,<tnd... . . . . . -lf O 180 -151 180 -l f 3 182 -184 134 -186 x177 -185 175 -180 175 180 175¼-175 170 ; . N. Y. N. llaven & ·.fa.rtf. 170 -171% !68 -172 169 -170:>< 25½- 27¾ 26 - 28¼ 25 - 28 2j¾- 29 24¼- 81% !:5 - 30 20½- 25 N. Y. Ontario & West ... 25 - 28¾ 22¾- 27¼ :.!1%- 29><. 24¼- 28¼ 24¼- 27 . . . . . . . . - ... 00 - IJO . . . . - . . . . . . . . ·· . . . . . . . . P1•cf. . . . . . . . . . . . . . . . . . . . . . . . . . . - . . . . . . . . - . . . . 88 - 88 . . . . - . . . . . . . - . . . . . . . . - . . . . . . . . 18 - 18¾ 21 - 21¾ lJ - 20½ 17 - 18 18 • 20 21 - 22½ 20 - 20 .... - .. . .. . . - .. . 18 - 20 24 - 24 Norfolk & \Vcstern ... . . . 20 - 20 55¼- 58¾ 4034- 5J½ 46 - 52 54 - 57¼ 51¼- 60 50¼- 57 Pref.. ... . ... . .... . .. .. ..... IA - 58¾ 46 - 57½ x44~4x55xi 50:l,.f- 53¾ x51 - 53¼ 45 - 52 47¾ 42¾40¾ 41 49¼ 42¾54¾ 48¾52¾ 4.::¾50¾ 40¼42½ 88½42¾ Northern Pacific .......... 84 - 37¾ 81 - 85¾ 28:14- 88¾ 36¾- 41 ½ 38¾02½-100¾ 89¾- IJ5¾ 89¼- 96Ji x82¼- 98¾ Pref............ .. .. .... . .. W}a- 7i¼ 66¾- 74¼ 67¾- 80¾ 75~:!- 80¾ 77½- 80¾ 74¼- 80~ 7'¾- 00½ 89 - 97 Ui¾- 17¾ 12 - 16¾ 13 - 14~ 16¾- 19¾ 17¾- 19 12¼- 15)s 11¾- 14¾ 18§,- 21 Ol2io Cent1•al. ....... .. ..... 22 - 25¾ 17 - 25),f 15¼- 21¾ 13¾- 18 37¼- 40¾ 8 3)4- 41½ 35)4- 40¾ 29 - 37¾! 82 - 85¾ 30½- 34¾ 85 - 42 30,¼- 85 Ohio & Mississi1lpi...... . 32¾- 33% 27 - 85.¾ 28~- 3~ 32¾- 39 . .. . .... ... . . .. . .. . 90¾-110½ l:IS -100 100 -105 100 -102),<.i 100 -106½ 107¼-ll'a Pref............ . ........... .... - . ... 95 -100 15¼- 17!, 14¼- 15¾ 11 - 11 14½- 21½ 15 - 19½ 16½- 20 12 - 12 14 - 14 15 - 18 15¾- 19 Ohio Southe1·n.... . .. .. . .. 10 - 23½ 15 - 2;>, 83;14-34¾ .... - . .. . - .... 84½-36 01·eao11Sbo1·t l ine . ... . . ... .. - ... . .. .. - ..... ... - ....... - .. .. . . .. - ... . . . . . - . .... ... - ........ 87 - 9~¾ 00}4- 9S¾ 84½- 92½ 78¾- 87¼ 82¼- 87 60 - 74¾ 61 - 7'1}( 08 - 76¼ 70¼- 74¼ 66 - 72% 70¾- 89 Oreaon & Trn.nscontin'J f,O - 75 Panama, trust certifs ... 100 -105 100 -lliO 100 -198 192 -200 20t -20-! .. . . - . . . . 165 -167 166 -1C7 167 -167 . . . - . . .. .... - . . .. . .. . - . . . . 33 - 37¼ 27 - 33¾ 28 - 20¼ 24½- 27¼ 25 - 29¾ 28 - 89¾ 3-1 - 39 Peoria Dec. & Evansv .. 33¼.- 37¾ 26 - 85¾ 25}4- 34M 23 - 33¼ 28 - 82 60¾- 6 3:h; 60 - 134¾ 46¾- 60¾ 49¾- 5 i¾ 52¼- 61# 55¼- 63'}.i 57¾- 63 54¾- 64¾ 54)4- 59 58¼- 67¾ 55½- 64¼ 51½- tS5 Phila. & Rending. . .. J>itts. Ft. W.&C., :;run1·. 184 -135 138,!,t-185½ 134½-137 134¼-136 184 -188 130 -135 180 -!84 130 -!86½ 139 -139 184½-188¾ IS2½- 13j 134½-186,4 . .. . . . - .. .. 13-i¼-134½ . ....... - .. . . . .. - ........ - . .. .... Special. .. . .. . ..... .' .. . , .. .... - ........ - .. . . .... - ..... . .. - ........ - . .. . .. . . .. . . . ... - .... 140 -142½ 141 -lH 138¼-143¾ · Reni.. & Saraton-a . ....... 180 -140 185 -135 .. . . - .. . . .... - ... . 138 -140 135 -140 131½-185 . . . . 1-1 - 17½ 13 • 17 20 · 18¾ 20½ 20 20 - 25 2J - 28 lG½- 19 17 - 24½ 20 • 24 I 16 - 22 22 - 82 Riclun. & Alleghany . .. . ?.7 - 40 G2¾- 02 06 -ll8¼ 112 -123 109:J-,!-·117½ 57 -109J~ G2 - i8 9 3 -108 Richmond & Danville .. 179 -218 *130 -250 110 -106 110 -145½ x99 -111 23 ·• 28 23 • 35 52¼- 63¼ 60¼- 06¾ CO - f:434 31 - 60 49¼- 55 Richmo d & \Vest Pt .. . •150-:.:07 l64%-263 100 -186 115 · 159¼1~47 -116 23¾- 2;'¼ 22 . 26¾ 17¼- 23¼ 19'....i- 2 ~ 22%- 26¾ 21½- 35¾ 249.(- St Rochester & Pittsburg. 24½- 20¾ 27 - 33½ 30 - 36½ 28¼- 82¼ 28 - 81 ao 31~- Jl" . ... :.o Romo \Vat. & Ogdensb. 20 - 2L ½ 20 - 21% 20 - 20 .. . . - . .. ..... - •....... - ... . 38 - 40 ... . - ... ..... - •. ....   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  ···1···· - ... .  75  RAILROAD .AND MISCELLANEOUS STOOKS. 1882-Concluded. STOCKS .  J ANUA RY F EB R'RY.  M A RCH.  APRIL.  MAY.  J UNE.  J , L Y.  A tTGt.TST . SEPT'R ER. flrTOBER . N nv' n E :• .  PEC'D E R.  L o w .H igh L o w.Hig h L ow. H ig h L ow . Hi gh L o w.H igh L ow. H hrh I o w .H igh L ow. Hi gh L ow . Hi g-h Low. H igh L ow. H igh Low. High  St. Louis Alton & T. H. 83½ - 48~.{ 26 - C ¾ 20½- 81¼ P1·ef. . . . ... ... .. . ... . . .. .. . 80½- 92 73½- 85¼ 00 - 74 St. L . .Jack s onv' e & C .. . .... - .. .... . . St. Louis&S. Fra ncisco. 39%- 46% 35 - 45 34½- 42½ Pref ... ... . . . . . . . . . . . . . . . . . . 50¾- 60½ 45 - 61 43 - 57½ 1st pref..... . . . . .. . . ... . 100½-106.½ 79¾- 08¾ 87 - 05 St. Paul & Duluth . .. . . . . 27 - 30¼ 26 - 30¾ 29 - 31½ Pref. . . . . . ... . . . . . . . . . . . . . . 68 - 71 70 - 71 x71¼ -x80 St. Paul .llliun. & lllan . . 108½-115½ 108¼-112 110 - 123 Second Ave <N .Y . City) .. .. . - .. . . . . .. - . . .... . . - .. .. South C :t rolinn. Rlt ..... . .. . - . .. . 30 - 30 Texas & Pacific . . . ... .. .. . 44)4- 51¾ 36½- 49¾ 34¾- 46¾ Texas & St. Louis .. . . . .. . . . . - . . . . . . . - .. . .. . . . - . . . . Toledo Deh>hos & Burl. 12 - 17½ 10½- 15¾ 10½- 17 Union Pacific .. . .. .. .. .. ... 114½-119¾ 110¾-119¾ xOO¾ x16¼ UnitedCos .ofN . .J .. ... . . 183 - 183 Utah Central. . .. . .. .. ... . . 100 - 100 Vir;d it i :1 !Uidla :: d . . . .. . ... ... - ... . Wah. St. Louis & Pac .. 34 - 38½ Pref. . . . . . . . . . . . . . . . . . . . . . . 65%- 71¾ Wa1-ren . . . . . . . .. . . .. . ... . . .  21 ¾- 28 23¾- 29% 23 - 28 55 - 67¾ x60 - 73½ 57¼ - 63  2i - 36¼ 3 3 - 43 01 - 80 79½- 89  40 - 50 85¼- Ol  38 - 48 80 - f8  38 - 40)4 83¾- 38 86½- 48¾ 4:0 - 43Ji 42½- 43 49½- 52½ 48 - 5 '. '% 48½- 61¼ ts - 01¾ f;7¾- r,5 97½-100 03 -100½ 29 - 32;}{, 30 - 80¾ 80 - S9 33 - 3¾ 83 - SO½ 77½- 86 80½- EO½ 84¾- 90 88 - oo 88¼- f:6 119 - l36½ 123 - 136½ *128 -1 44¾ l~H - 140_1-<., 146¾- 16t1X ... .. . - .... .. . . - . . . . 170 - 1 5 25 - 27 22 • 299:1 20 - 30 38 - 45¼ 36:)s- 43¼ SG)lS- 44l¼ 43%- 55 48¾- 5 1~Q 4';),:i- E2¾ . . . . - . . . 17 - 17 l.'O - 31 12¾- 15 11½- ,3 11 - 11 12½- 19 15½- Ii½ 15 - 15 l~¼-115½ 111 - 11 4¼ x 06½ 113¾ 110½-118 lll H-.;-119~ xl08¼ 18½  38 - 40 50 - 56 88 - 91 ... 70 - 78 118¼-120%  37¼ - 40¼ G(I - 60>-c  86 - 88½ 85 - {!0 ½ 02 - 100  05 - f8 83 - 35% Ul ½i- 04¾ H 4¾- Hl2¾  33 - 33 24 · 24 :;4 - 4.2 :36½- 42¼ 20 - 20 15 - 15 12 - 14½ 10¼ - 11¼ 8½- 10 l0,1%-10\:¾ £9:».-1011 x98}.p ::05¾ 38%- 47  a:  _- 5·.6.· ¼ ·'l· l ·l SS r~o·½=_l88 5. !~--.· . .. - . , -o _- 5·0· ·· . 2:. ._ " 49 - 25 \>.77k 37¾ 30¾- 86Jr, 27¼ - 85% 2';¾- SI% 23¾-- 30u, 28 - 89 34¾- 39% 95½ - Sc )<j ~9½- 30?~ 27 - 34¼ 29¾- 36)4 54¼- 68¾ 55 - 63 49¾- 61¼ 49%- 5~ 45¾- 54½ 51 - C9¼ CS¼ - 6:J 66¼- 70~ 55½- 66~ 50- - 6t:'¾ 5 1 • 56¾ - . . . . 118 -118 - ... . .... -  185 - 185  . . .. -  - . . . . l dS -188  . . .. - . . .. 43 - 62½ .. .  TELEGRAPH. - .... American Disu·ict.. .... . 81 - 38 31 - 60 40 - 56 44 - c2 44 - 47 40 - 45½ 47 - 59 51 - M 73 - ': 4 American Tel. & Cable . .. .. .Hankers' & ll'Ierchants' . .. Gold & :Stock .. .. . ... . ... .. 100 -100 90½- 99½ . . • . - • . .. 02 - 9 ] 25½ - 80¼ 25 - 27~ lllutual Union .. . . .. . .. . ... ... 80'¼- 86¾ 84½- 91¼ 88½- Ul :x88¼,- 93¾ Westel'll Union . . . .. .. . .... 76¼- 82¾ 76¾-- 82¾ 76¼- x.98¼ 80½- 90¼ !:!l¼- 86 EXPRESS. Adams . .... ... . . . .. .. .... . ... 145 American.. .. . . . . . . . . . .. .. . . 92 United States ... . .. .. ... .. . 76 Wells, Fa1·ao & Co .. ... .. ,28  - 149½ 142½- 148 - 94½ 1 00 - 97½ - 80¼ 73 - 78½ - 130½ l25 - 130  COAL & MINING. Cameron Coal & It-on . . 81¾ - 87 Caribou Con s ol. Illining 2½- 2½ Central Arizona llli ning 1 - 1% Colorado Coal & Iron . . . 41 - 45¼ Consolidation Coal. . .... 82 - 36¼ Cumberl'<l Coal & lI·on . . . . Deadwood .llliuing . . .. . . 5 - 5½ Excel sior llliniug . . .. .. .. . ¾- ¾ Homestake lllinin~ .. .. .. 15¾- 16½ La Plata lllinin~ .. . .. . . . . . \J>(- O¼ Little Pittsburg lllinina . l ½- 2 Ma1•iposa Ln.n<l & lllin'a- 2 - 2½ Maryland Coal.. ...... . . . . 20 - 26 New Ventra l Coa l.. .. . . . . 19 - 20 Ontario Silve-i• }llininir . . 33 - 35 Penns ylvania Coal. . . .... 'MO -245 Quick!tilver Mini ng.. .. .. 12 - 14)4 Pref. . . ... . . . . . .. .. . . . . . .. 57 - 62~4 Robi nson Cons. Mining 2 \4- 4 Silver Cliff Mining . .. . . . . 2¾- 2¾ Standard Consol. lllin'g 14 - 17;}.-j Stormont Mining .... ..... . . . -  C:l¼- 40¼ 41½- 48>4 8'.l - I! ' ¾ 84¼- 04½ . . . . - . . . . 12 :., - 1£9 81 - 87½ S2),,~- 85½ 49 . - 57 51 - 55½ 1./' - 98!,: 03 - 100 82 - 83;,, 86½- 42!1( !O - 9u 00¼- 19¾ 185 -1 52¾ 140 - 146¼  189 -145 \JI¾ - 95¼ 72½- 76¼ 126 - 1S0½  - .. . . 27½ - 34½ 2 - ~ ¾- 1 l - l¼ 38¾- 44¾ 38 - 53% 29½- 31 30 - 32 7 - 9 5 ½- 6½ 6➔J- 6).j" 1 ¾- % l !{- 2½ 18½- 19,, 17,½- 19½ .. . . 1%- l ¾ 1¾- 2¼  140 93 74 126  - 143¾ x34 - 142 1~5½- 140 - 05 93 - li 7¾ x91 - 97¼ - 76 72 - 74½ 70 - 73 -129 125½- 130 128 - 131  34½ - 34!)-J 80 - 85  189 04 74 128  - 140½ 140 - 143 - O'l 03½- 96¼ _ 75 70 .. 74 -131 ¼ 130 - 182  ½-  139,½- 140~_; x185 - 1&~ 90 - 1,7 1:2 - 1)8 65 • 7l lx62 - x 67 129 - 182 ,1~7 - 130  183 - 188 x . O½ 05 65 · 68J.t 128 - 131  ¾ .. .. -  ¾-  42 - 46¼ 40 - 43 4~ - 4.9 i:2 - 32½ . .. . -  6 - 6¾ 5 • 5:11 2 - 2¼ 1)4- 2 1 - l ¼ .. . . 17¾- 18½ 17)4- 18¼ x 17¼ - 18 17"l,1j- 19½ x17½- 19½ 18¼- 18¾ l 'i¼- 18 l ½-  1% . . .•  l ¼- ·1½ . ... - .. .. 1¾- 2 13 - 16 16)4- 18 .... l , - 17 x34 - 35½ 3::.½ - 36 245 -245 8¼- 0 9 - I i:½ 47 - 47 45½- GO 1 - 1 16¼- 18-¾  18 - 20 17 - 18 40 - 40  .7 - 18½ x7%- 17¼  .. .. - .. . .... .. .. 139 37 125  60 - 00 103¼-106¾ 102¾-113 lll¾-118½ 114 - l l 9¾ - . . ..... . - . . . . 59 - 59 - . . .. 37 - RS½ 87 - 39 40¼- 4 - % . .. . - .. . - 145 137 -140 135 - 138 134½-149½ 148 -Hi5 - 42¼ 89¼- 44¼ 89½- 43 42½- 48¼1 43,½?- 47¼ - 127 120 - 127 117 - 125¼ 125%-132¼ x l l£7 - 135  ½-  ¾  ¾  ¾--  ½  ¾-  ¾  %-  ½  %-  ½-  ½ . . .. -  25 - 40)4 27¼ - 32¼ 27½ - 27),. 29 - 29  4 -  4  4 -  4  17k - 17½  17 - 17¼  20 - 20 17 - 20 I S¾- ~l Hl¼ - rs 18 - 1:l lJ - Hl¼ 3 ,¾- 3U¾ 36 - 3S¾ 3 3 - li7½  10 - 17¾ 14 - 16 36  1J - 11 10¾ · 11 8 - 10¼ 45,½- 45½ 4 . ¼- 45¼ 40 - 45  60 - 62 60 - 61 102¾-107½ 103¾- 106  ¾-  19%- 25 79%- 83¼  . . .. -  17 - 19 :5¼- 17½ 15 - 17½ 13 · 14 13½- 13½ 17 - 19 16 - 18 15 - 15 85 - 35 35 - S5}1; 35 - 35½ 35 - 31> ~J5 -245 11¼- 13½ ll¼- 12 11~.i- 127/21 8¾- 12 57,½- 6\! 55 - 60 56 - 57 49)4- 58 2¾- 8¾ 8¾- 4 3¼- 3¼ 'J - 2¼ . . .. - ... . 2 - 2 16 - 17½ 14'¼- 19½ 15 - 19¾ 14 - 18 l ½- 1,½ .. . . - ..... . .. -  87 - 40 128 - 142 38}2- 43% 123 -128½  ½  20 - 2 i 20 - 2·7 85¾- 89% 78¼- 87  l 'l - 20  83 - 8R¾ 33 - 87¼ 35½- 85¼ 19\li- l:5  '¼- 1,-s ¾- % %- 1 46 - 53¼ 48¼ - 52~-1 40 - 48¼ 44. - 50 29 - 29 32 - 33 28 - 30¼ 30 - so  . . .. -  VARIOUS. Canton Co .... . .. ... ...... . . 60½- 60½ 6 :J - 65 Del. & Hudson Canal ... 105½-107% xl06¼- 9½ lron Steamboat Co .. .... . . - ... ... . . - . . . . N. Y. & Texas L a nd.... . 44¾- 49:il; 42 - 44% Orea-on R'y & Nav. Co .. -. 12'3 - 140 l 30 - 140 Pacific Mail s . S . . . .. . . .. . 39,½- JS¼ 38 - 45½ Pullman Palace Cnr .. .. 129½-145 *122 - 141 Sutro Tunnel.. . .. .... .. . $ %- 1 ¾- %  137 -140 lil ¾- 93¼ 71½- 75¼ 125½-130  85 - 44 35½- 83¼ G9 - 73% x65 - n G5¼- 69 • . . . . 125 - 132  6½-  :::»s--  8¼- 0% 0 - 9½ 4i - 44 40 - 40¼  6 -  8  7  - .. .. . .. - .... 59¼- 59½ 112¼- t17)4 ll ,¾-114½ 103,½-113¾ 106¾-lll  50 - 5J 50_¼- 54h Gl - G5 133 - 103¾ 152 - 1 ~ 14S½ -l CO 138 - 158 43¼- 4 7½1 S.S½- 44½ 32¾- 40}<i 34½- 46 128:)4-135½ 127 -130 120¼- 27 122½ - 125¼ \i~ %% ¾~; ¼- ¾ ¾· ¼ 1  • L owe11t price l s ex-priv 1lei,cE>.  STOCKS.  JA NUARY FEDR' R Y.  MARCH.:_ ~  PRI~ _ M~Y..:__  J UNE.  ~  UL: : _ A U GUST. S EPT' B E R. f O CTOBER. NOV' DER. ~ E B .  ______ __ _ ____ __ _ ,_r_~o_w _.H_ig_h_ L__(l_w_._ H_ig _h _ L _ow _ .H _ igh L_o_w_._H_ig_ h L_o_w_.H_lll_ b _ L _ow _H _!~ L ow. High Low. High L_o_w_. Hi _ g_h L ow. High L_o_w_._H_ig_ h L _ o_w_. High 1  RAILROAD. Albany & !! usquehannn. . .. . - . .. . 128 -131 .. . . - . . . Allea"any Central. . . . . . . 10 - 10 . . . . - . . . . . . . - . . . . Atchi son Top. & S. Fe .. . . . . - ... . 'i'S½- 79 78¾- 80 B ost.&~. Y. Air-L., prt 79 - 82 80 - 81½ 78 - 80½ Bu • C. Rap. & North ... 82 - 83 80½- 82 8:> - 81 Canadian Pacific . .. .. . - .. . . 58¼- 61¾ 58¾- 59¾ Canada Southern.... . .. 65 - 71¾ 63¾- 68¾ 65¾- 69¼ Cedar Falls& lllinn .... . 14 - 15 12 - 14 13 - 13¾ Central Iowa.... . .. . .... . . '<!5 - 28 . .. . - ... . .. • . - . . . . Cenu·al of New Jersey 6S~- r.6½ 6S¼- 73½ 71 - 73¾ Central Pacific ... . .. . ... . . x 83¼ 88 79 - 83¾ 74¾- 82¼ Chesapeake & Ohio .... . 22 - 23 34 20½- 23 21¾- 23 1st pref....... . . . . . .... . . 80½- ·35½ 29%- 82¼ 30%- 83 2d prff ............ . . . .. .. . ZJ½- 27 22½- 25¼ 23 - 24¾ Cbicaa"O & Alton ....... .. . 134)4-137)4130 -1.37 lJl½-135 Pref. . . .. ... ......... . . .. . . . . .. - ... . 140 -145 .. .. - . . .. Chic. Burl. & Quincy ... 120 -125% 115¾-122% 117 -125¼ Chic. ll1il. & St. Paul. . .. 103)4-108½ 07¼-106¾ x977~ 102¼ Pref. . . . .. . .. . . . . .... .. ... .. 119¼- 122 116¾-120½ 116¾-120¼ Chic. & Northwest . .. . . . . 130 -136¼ 128¼- 133¼ 131¾-134.¾ P1•ef. . . ........ ... . ... .... .. 145½ -151¼ 143 - 147¼ 145 -150,~ Chic. R. I. & Pacific., . . . 123 -127¼ 118 -123¾ 121¾-124¾ Chic. St. Louis & N. 0.. . 80 - &O • •• - • •• • . • • - ••. . (;hie. St. Louis & Pitts . .. .. - .. . ..... - . . . . . . . . - . . . P1•ef... . .. . . .. . . . . . . .. . . .. . . . . . . - ...... . . - ... .. .. . - .. . . (;hie. St! P~ul M! &? O . .. j 4...'%- 55 44~- 4~ 47!,a- 00¾   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  130 - 131 14 - 20 f 4 - 8J¼ 78 - SO¼ 80¼- o2 58½- 61½ 65¼- 6!l½ 13¼-15 25 - · 25 72 - 70% 75%- 80¼ 20¾- 22½ 31),.. ,- 33¾ 23½- 25¼ 183½- 135 .. . . - .. . . 124 -121.1% 98¾- 104¾ 117 - 121% 133 -140¼ l 49½- 1:i7 12~ -126¼ ••• • - •. •. 20¼- 22 54 - 56½ 47¾-52  132 - 132 .... - .... 82¾- 8'.:37/4 81 - 84¾ 8l - 82 60 - 65½ 63¼- 67¾ •• - . .. . ..• - ... . 75¾ - 80% 71¼- 77½ 19¾- 21¼ 28¼- 32¼ 21½- :23¾ 132½-135 140 - 140¼ ' 20%-126¾ 100%-105).( lil> - 121¾ i28§ii-135¾ 146¾-15S 121½-126¼ • •• • - • . . . 18 - 22 54~- 5 : ¾ 44 - f>O¾  130 - 132½ . .. . - .... . . . . - . . . . . . . . - . .. . 83%- 84J~ 8 1½- 83½ 81¾- 83 80 - 82% 81 - 82½ 80 - 84 61¼- 65 54¼- 64¾ x64 - 68¾ -53½ - 64•'h 14 - 17½ 13 - l d½ . . . . - . . . . 18 - 18 79¼- 89 84%- 88¾ 74¾- 77)._ x70¾- 77% 19 - :20¾ !6 - 18}-,i 28½ - S1 27½- 2!!¼ 21%- 23½ 19 - 21¾ 133½-136 ,32¾-136 . . . . - .. . . 140 -1 40 122 -126¾ 121 - 120:,., :.01%-108¼ 101¼- 106 ll9 - 121 117 - 120½ 1:;o¼-136¾ 125¾-134¾ 148½-153¾ 144½-152 122½-1£8¼ 120½-12-1% . • • . - • •• . . ••• - • • •. 18 - le¾ 13¾- 19¼ 55 - 57 50 - 55 43 - 48 42¾- 48¼  127 - 127 132 - 132 .... - ... . .... - .... 79¾- 80 83¾- 83¼ 79-}.(- 83 81 - 83½; 80 - 81½ 75 - 80 5 .:)s- 57½ G6 - 59½ 48¾- 55¾ 52¼- 56½ 14½ - 14½ .. . . - . . . . . . .. - . .. . . .. - .. . . 78¼- 87¼ 78¾- 83¼ 6·~½- 71½ 65¾ - 00¾ 13½- 17½ 16 - 17 23 - 29¾ 25 - ~9 18 - 20¼ 18½- 20 xl28-136 132 - : 35 140¼-140¼ . . .. - . . . . l i7 -124½ 123 -127¼ Oi½-104:¼ 102¼-106¼ 116 - 119½ x117-122!4 119¾-128~ 122¾-129¾ 137½-146 142½-152 117½-122¾ 121 -125),i . • • • - • • •. . • . • - • . . . 10½ - 15 14 - 15 38 - 46½ 43 - 48½ 86-¼- 46 4P¼- 4.4  131 -135 133 - 133 184 - 18-l . . . . - . . . . . . . . - . . . . . . . . - ••. • 81 - 52 ... . - . ... 79¾- 70¼ 79¾- H¾ 80 - 82½ 82 - 8 2~ 60 - ol 8 1¾- 86 81 - t:5 4'3¼- 64½ 50½- 63¼ 52¼- 59¾ 47¼ - 55% 51~ - 577~ x50 - 57~ . ... - . .. . 10 - 18 •••• - •••• 1S - 14 . . .. - • ... 18 - lS 78 - 00 83½- 85½ 8.'3¼- 8 5:J;( 01 - 67½ 64½- 68 CS¼- 68 13 - 16 15 - 17 1-1 - 15¼ 23½ - 28¼ 25½- 28½ 2-l - 28 14¾- 18 10½- 18}4 16 - 1.8 130½-133½ 1:33 - 13-1 132 -134;4 145 -1 50 .. . . - .. .. . . .. - • . .. 120¾-126% 124¼-128¼ 119¾-126¼ 02¼-Hl3 O'.:J.fr-101}{ 01~.!- 90-}.1 115 - 118 116%-110~. 116 -118¼ 115½-125¾ 122 •127½ x ll5}4 27¼ 134 - 146 139½ -140 x1 41¼ 40),I xll'i½ 22¾ 120 -123 116¼-1~2~ . . • . - . . . . • • • - • • • . . • • • - • •• • 1J.. - 13½ 12 - 14~ 12 - 12¾ 83 - 47½ 87 - 44 38¼- 88;.; 80 - 40½ 84¾- 88¼ SS - 87  76  RAILRO.A.D .A.ND MISCELLANEOUS STOOKS. 1883-Conttnoed. JANUARY FEBR'RY.  STOCKS.  MARCH.  AUGUST. SEPT'BER. OCTOBER. NOV'BER. DEC'BER. JUNE . -APRIL. - - - l • -MAY. ---1- - - -JULY. --- - - - - - - - _____,____ ,_____  _ _ _ _ _ _______ _I_,n_w_._H_i_g_h_ _L_o_w_.H_liz_h Low. High L <•w .Hl11;b 1 1 Ch, St, P. M.& O., pref'. l (, 7¾-118¼ 102¼-108¾ 106¼-109¼' 106 -109 ( .in, Harn, & Dayton... . ... - ........ - . . . . . .. - . . . . 85¾- 85¾ Cin. Sandm1ky & Cleve. . . . . - . . . . 46 - 40 48 - 49½ 46½- 49 Cleve. Col. Cin. & Ind... 77 - 84 6:3¾- 70¾ 72¼- 74¾ 74 - 79¼ Cleve. & Pitts., a-nar .. .. 189 -142 140½-141 188 -139}£ 133 -188¼ Columbia&Greenv., pf, .... - .... 81 - 84 84 - 54 48½- 59½ Col. Chic. & Ind, Cen.... 8),,(- 4½ 4 - 6 5½- 7¼ 4%- 5½ Assessment paid . ....... .... - .. .. . .. - ... 10¾- 10¼ .... Reorganization ctfs . .. - .... .. - . .. . .. - . . . 11¼- li½  Low .High Low. R igh L_ow_.H_IJZ_h_ _L_o_w_._H_i_a-_h _L_o_w_._H_i_g~ L_o_w_._Hlgh °!'ow. High Low. High 1  1  102½-108½ 104 -106¾ 101½-106 97 -105½ 101 -104¾ x91-x100½ 95¼-1007,11 x92,¼-99 .... - •.•....• - .. .. .... - ........ - ........ - ........ - .. ...... - ........ - ... . 88 - 48 40 - 45 40 - 42 4lJ - 40,½ 88½- 44 . . . . - . . . . . .. . - . . . . . . . . - ... . 67¼- 74¾ 70¼- 71:k 69¼- 75% 5 ) - 70 61 - 66 5! - 63 60½- 74 64 - 73¼ :S0¾-133 120½-13-i 133½-185½ 124¼-182¼ 182¼-135 130½-186 134 -186 187 -140 59½- 88½ 65 - 66 01 - 64 .... - ...•.... - ........ - . .. . 81 - E5 .•.• - •••• 4½- 5 4 - 4 .... - .... 3 - S 2½- S 2 - 2½ . . . . - . • . . l ){- 2 .... - . .... ... - ........ - ........ - ........ - ........ - ........ - . .. . . . - ...• 10 - 10 .... - ...... .. - ........ - ........ - ........ - . .. . . .. - . .. . . .. - ..•. Col. Hock. Val. & Toi ...... - .... ... . - ........ - . ....... - .. ..... . - . ... .... - ... ..... - ........ - ........ - ........ - ........ - ... . 80 - 80 Danbury & Norwalk .... 70¾- 70¼ .... - .... 68 - 63 . . . - ........ - . ..... . - ........ - .... ... . - ........ - ........ - .. .. 50 - 50 .... - .. . Del. Lack. & Western .. 12-i¾- 129¼ 118¼-125½ 122 -125½ 12-i!!i-181½ 122 -128¾ 128½-180 122½-180¼ 118¼-125¼ 119%,-12-i9i xlll¼ 22¼ 118¾ ·119½ 115¼-119¾ Denver & Rio Grande.. 89¼- 51¼ 42¼- 48¼ 44 - 47¾ 413¾- 50¾ 46 - 51½ 41¾- 48½ 86¼- 45½ 21¼- 87~ 25 - SO~ 22¾- 27½ 22½- 25% 22½- 26¼ Dubuque & S. City....... 89 - 89½ 87½- 87¼ 85 - 92 x84½x88½ 82 - 85¼ 81½- 82 82 - 82 78 - 78 85 - 85 79 - 79 . . . . - . . .. 77 - 80¼ East Tenn. Va, & Ga.... ll¼- 10¼ 8¼- ll½ ~fr- ll¾ ll - 11¼ 8¾- 10}4 8½- 10 7§g- ll¼ 7 - ~ 7¾- 8¾ 4¼- 8 6¼- 7;,, 5}.!- 7¼ Pref .. .... ..... . . ..... ... 16¾- 18¼ 14¾- 16--¼ 15¼- 17½ lo¼- 28 18 - 22 li¾- lll½ 15¾- 18¼ 18¾- 17 14½- 17 11¾- 15¼ 12¼.- 14'.t 11½- 14¾ Evansville & T. Haute 75 - 75 70 - 75 68 - 70 68 - 68 . . .. - . . . . 59 - 59 .... - . . . . 45 - 45 60 - 60 50 - 50 56 - 50 50~- 55 Flint& Pe · e Ma1•q,, prf• . ... - ... .. - .... . ... - . .... ... - ........ - ... 10? -107 ll9½- ll9½ .... - ........ - ........ - .... 103¾-104 .... - ... . Fort Worth & Denve1·. SO - 83¼ SO - 81¼ 30 - 81¾ 81½- 81½ . . •• - . ..... . - ... . ... . - ........ - ... . . . .. - .. . ..... - .... .... - ........ - .•.• 1 Green r; ny W n,&St.P. 6 - 6½ 5 6 5½- IJ7A 8½- 10% ':'¼- ll¼ ll - 10¼ ½ 6 - 7¼ 6 - 7½ 5¾- 6J~ 1 . . . . - • ••• 5 - 5½ Hannibnl&St, Joseph. 42½- 46~ 40 - 44 88 - 88 89 - 43 41 - 48 .... - ........ - ........ - .... ~ - 89 88¼- 88½ .... - ........ - ... . Pref . . ...... ...... . ......... 72 - 87¾ 80 - 66¼ 78½- 84 81½- ll4½ 03 - ll7¾ ll2½- !l5Ji !JO - ll3 !JO - 03 .... - ... ... . . - ........ - ........ - ... . Harlem ..... . .... ........... 100 -200 200 -200 200 -200 lll4 -lll8 10G -197 1 7 -199 196 -l!J6 190 -lllO lll2 -195 192 -lll6 197 - 107 xll.1 0-190 Houston & Texas Cent. 75 - 71l 78 - 78 75 - 78¼ 75½- 82¼; 70 - 75 67 - 72½ 68 - 00 58 - 62 51l - 62 57½- 58 50 - 55 50½- 50¼ Illinois Central.. ......... 141%-147 x41~ 146¾ 143 -146 144 -1477/4141¾-145¾ xl32-146 129¾- 134 124 -18) 127 -180 125½-182 129¼;-134¼ WI -134 Leasetl line, 4 p, c. .. . . 78 - 81 77 - 80 71l¼- 80 80 - 81 80 - 81 71l - RO'¼ 77 - 80 78 - 79½ 78 - 81 80½- 83 82 - 83½ 81¾- 843,! Ind, Illoom. & West.... 82 - 85 27 - 31¼ 29½- 85¼ SO - 85¼ 25 - SO½ 20 - 82 27 - 82 lll¼- 28¼ 28¼- 27¾ lll - 25 20 - 28½ 17¼- 28.¼ Joliet & Chicaao ......... .... - ... . 183 -188 .. . . - ...... .. - ... . ... - •... - ........ - •....... - ........ - ... - .. 188 -188 . .. - . , . . Lake Eric & Western ... 29¼- 33¼ 26 - 29¼ 26¾- 82 2»¼- 83¼ 26 - 80 28¼- 82;14 25¼- SO¼ 18½- 26 20¾- 24¼ 13½- 21 16,¼- 26 18½- 25 Lake Shore . .............. . 110),a-114¾, 106¾-111 xOS~ 111¾ 108 -114¼ 107,¼- lll½ 108¼-118¾ 105%-110½ ll8!},(-1077,1i 100¾-105 x92¾103¼ ll7½-103¼ x.94¾ 102¼ Lona Island ................ 60 - 65 60¼- 63½ 62 - 68½ 62'.¼- 69 66¼- 69 68½- 86¾ 77½- 86½ 75½- 82½ 71½- 79 53 - 73 66-Ji- 78 65¼- 70 Louisiana & Mo. Riv . . . . . . - . . . . . . . . - . . . . . . . - . . . . . . . . - . . . . . . - . . . . Ul½- 18½ . . . . - . . . . . . • . - . . . . 18 - 13 13 - 18 14½- 25 . . . . - .. .. Louisville & NashvilJe. 51¾- 58½ 51~ 57½ 53¾- 55% 52½- 58½ 47¾- 54¼ 49 - 54¾ 48¼- 54¼ 40¾- 50¾ 44¾- 53¼ 44½- 51¼ 48 - 51¼ 43%- 50¼ Louis,·.New Alb.&Chic. 68¾- 68 60 - 65 55 - 50 54%- 511¼ 55 - 55 SO½- 52 45 - 50 45 - 45 40 - 40 30¼- .J.O 85 - 88 80 - 85 Manhattan Elevated.. .. 47 - ~l 45 - 58¼ 40 - 49 41 - 45 43½- 44% 43¾- 49% 45 - 49 88 - 45 39 - 45 41 - 46 42¼- 49 4.2 - 47 lstpreL. . . .. . . .. . .... 84¾- 90 86 - 68 85 - 85 x8l½ x84 88 - St.I 82½- !JO 83½- 83½ 80 - 83 86 - 86 82 - 84 80 - 87 80 - 80 Common .... .............. 50 - 50 43 - 53 48 - 48 45 - 45 44¼- 44½ ~ - 50 45 - 48¾ 88 - 88 .... - .... 42 - 43¾ 41¼- 46 .• . . - ••.• Manhattan Ben.ch Co... 18 - 19 15 - 18½ 18 - 26½ 23 - 24¾ 21 - 25 28 - SO¾ 24 - SO¼ 16 - 25¾ 18 - 20 12½- 18 15¼- 17 15½- 17 Mar. & Cin., 1st pref... . . .. - . . . . 11 - 11 . . . . - •....... - . . . . 12).f- 12½ ... . - ........ - •.•.•••• - ........ - ........ - .. .. ... . - ... .. ••. - ... . Memphis & Charleston. 45 - 55 86 - 46 88 - 43¾ 38¼- 44:J,4 87 - 41l 42 - 45 88 - 44 84½- 47 89 - 43½ 89 - 42 41 - 43 82 ~ 42 Metropolitan Elevated. 80 - SS eo - 85 79¼- 81 80 - 81½ 76 - 83½ 83½- 03 89 - !JO Sil - Ill¾ 86¼- ll5½ !JO - ll2 89 - ll4 b8 - !JO Michi2"an Central........ 00 -100¼ 00 - 00¼ Ill¾- 00¾ 08 - 00-¼ Il l½- 95 x92¼ 99 85½- 94 80½- 88¼ 80¼- 87¼ 77 - 00½ 89, - ll4¼ x85½- 94 Milw, Lake Sh. & '\V. ... 17¼- 18 15 - 15 .... - ........ - . •. . 14 - U 10 - 10 .... - • . . 12 - 12 11.¼- 12¼ ..•. - . ....•.. - •.. .. ... - •.•• Pref............ . ....... 46,li- 46¼ 42¼. · 46 42 - 45¼ 44¼- 47h 42 - 40( 44 - 46½ 43 - 45½ 88 - 43½ 41 - 45¼ 85 - 42 40 - 40¾ fS½- 89 Milw, & Northern....... . . - ... . .... - .... 25 - 25 .... - ........ - . . .... - .... ... - ........ - ........ - ........ - . .. ..... - ........ - •..• Minneapolis & St. L. .. . 27 - SO¾ 22¼- 27¼ 25½- ~7¾ 25½- SO¼ 25¼- 28¾ 26 - 28¼ 22½- 27½ 19¾- 24 21¾- 25:)f 18 - 24½ 19 - 22¼ 16¾- 20~ Pref.................. . ... .. 60 - 68½ 52 - 62 57 - 61 57.11?- 62¼ 53 - 59 54½- 58½ 50 - 53 47 - 51¼ 49 - 53 35¼- 48 40 - 43½ 83 - 41 Missouri Kan. & Texas SO½- 3431; 29,¼- 82¾ SO'A- 82¾ 29¼- 88¾ 27¼- 81¾ 28¼- 82 26½- 81¼ 21¼- 28¼ 24¾- 279{ 19½- 26}8 28 - 25-¾ 20¼- 25 Missouri Pacific .......... 100¼-105¾ 97¾-103¾ 99¾-103½ 101¾-106¼ 101¼-10.5½ xOl½ 106½ llS¼-105¼ ll3 -100¼ ll5½-102 ll0¼- ll7¾ 94½- !JS¾ x86 - llS¼ Mobile & Obio. ... . ... l'i¾- lll½ 15 - 19¼ 16 - 10¾ 17 - 19 15 - 15.½ 14,-4- 16 18½- 15 10½- 15 12 - 13 10 - 18 10¼- 12 10 - 11¼ Morris & E.'1sex ...... .... . 122¼-124 120 -122½ 122 -124 123;:i-125 124¼-128 124 -129¼ 120¼-126 123½-124¾ 121¾-125 121 -124½ 122 -124¼ x121½ 25-¼ Nashv. Chatt. & St. L. .. 55¾- 64¼ 56 - 62 57 - 00 57 - 59 501.i- 56½ 54 - 51l 54 - 54 51 - 56½ 54 - 60 52¼- 58 57 - 59 M - 51¼ N. Y. Cent, & Hud, Riv. 125¼-128¾ 124).(- 127¾ x125-129¼ 125 -128½ 120¼-125X 118¼-125 113¾-120~ 118½-117 x18¾ 119¼ 112X-120 115¾-118¾ xl Ll¼ 1~ N. Y. Chicna-o & St, L... 12¾- 15¼ 10 - 12¾ 11 - 18¼ 11¼- 12¼ 10¼- 12¾ 10¼- 12¼ 10 - 11¾ 7 - 10¾ 8¼- ll¾ 'i¼- ll 7¾- 11 8½- 10,¼ Pref ....... . ................ 29 - 85 28 - 29 26½- 29½ 27¼- SO 23 - 27 28¼- 27¼ 21¼- 24½ 17 - 22¼ 17 - lll¾ 18¾- 17¾ 14:)(- 21¼ 18 - 21 New York Elevated ..... 101 -101 105 -105 108 -105 - .. .. .... - .... .. - ... ..... - .... !JO - 90 ... - . . • ••• 88 - 98 • ... - ... . N, Y, l .ack. & West. .... .. - .... . ... - .... 85½- Sil½ 87;~- i,IJ~~ Sd - Sil¾ x87¼ 89¼ 85½- 88½ 84¾- 87¼ 84 - 86¼ 83¾- S5 84½- 87 ~½- 87¼ N. Y. Lake E1·ie &West, 877/4- 40¾ 84¾- 89 86½- 88 867!\- Sil¼ 337/4- 87½ 85¼- 88¾ 84¼- 377,i 28¼- 84¾ 21l¼- 82¼ 27½- 81¾ 27)4- SO¼ 26Y.r 81¾ Pref...... .. 79½- 83 75 - 80 .... - ..•. 80½- 81½ 78 - 799( 71l - 81¾ 76 - 80 72 - 76 75¼- 78½ 72 - 77 721/.r 78 77¼- 80 N, Y. & New Eu?;~<a.nd .... 48 - 52¼ 45½- 48 45¾- 41l 87 - 40½ 80¾- Sil 38 - 86¼ 29¼- 84 20½- 27¾ lll¼- 25¾ 19 - 26¾ 25¼- 87¼ 17¼- 80¼ N. Y.N,Haven&Hartf, 169 -175 !'i0½-174 178½-175 175 -178¾ 180 -188 177 -183 175 -178 174 -179 176 -180 171l -180 179 -180 175 -180 N. Y. Ontario & West ... 25¾- 27½1 25 - 26¼ :&4¾- 26¾ 25½- 29¾ 25 - 28¼ 25¾- 283,4 28¾- 27¼ lll¼- 24¼ 20¾- 28¼ lll¾- 22¼ 19¼- 21¾ 15¾- 21}.( Pref........ . . . . .. . . . . . . . . . . . . - . . . . . . . . - . . . . 85 - 85 . . . . - . . . . • • . - ........ - • . . . . . . • - . . . . . . . . - ... . .... - . ... .... - .... • • •. - • • .. • • • • - . .. . N. Y. Susq, & West .... . .... - ...... . . - ........ - ........ - .... 6½- 8% 6¾- 8 6¼- 7 5 - 6½ 5¾- 6½ 4¼- 5¾ 5½- 6 5 - 6½ Pref........ . ... . . ....... .. . - .. . ..... - .. ... ... - ... . .... - . ... Ill¼- 21}, 18 - 20½ 18½- 20¼ 14¾- 17 15 - 17½ 14 - 15 15¼- 18 16¾- 19 Norfolk & Western...... 18 - 18 .... - .....•.. - ... . 10 - 10 13 - 13 13 - 13 12 - 12 •. - ... . .. - •... lO - 10 11 - 12 13 - 13¼ Pref ........................ 46¾ 49¾ 87½- 46½ 89~.(- 43 41 - 45}8 89½- 4C 41:ki- 43 88 - 42¾ 82 - 88½ 85 - ~ 88½- 41½ 41 - 46½ 89¼- 45¼ Northern Pacific.......... 40%-- 51¾ 44¼- 49¼ 48¼- 51¾ 49¼- 52¼ 483,f- 51¼ 50 - 53¼ 47¼- 52¾ 85¾- 49¼ 81¾- 43¾ 28¼- 84:ig 28½- 8(»~ 28¼- 29¼ Pref.... .. ...... 83½- 87½ 79¾- 85 83),,(- Bi¾ 85¼- Sil¾ 85 - SU¼ 87 - !JO¾ 84¼- !JO 69¼- Sil 61 - 77½ 56 - 70 68%,- 67ti, 49¾- 64¾ Ohio Central... ... ..... . ... 12¾- 13¼ 9¼- 12:)( ll - 13¼ 11%- 14¼ 10¾- 12¾ 1J¾- 11¼ 7½- 10½ 5-¾- 8% 87'{- 5¾ 2 - 4¼ S¼- 4¼ 2%,- 8¼ Ohio & Mississippi....... 31 - 84¾ 29 - 337,{ 81¼- 33½ 33¾- 8~ 80:J.(- 85 88 - 86¼ 82 - 34:¾ 27 - 82½ 28¾- 82¼ 25¼- 29¼ 26¼- 28½ 21 - 28¼ Pref ........ . ... . ...... ..... ... . - .. . . 06 - 06 08½- ll8½ 08 -108 100 -10:S½ 10:S½-112½ .. .. - ........ - ... ..... - ... . .... - ... . ·· ·· - ···· ··· · - ···· Ohio Southern.... . . . . . . . . 11½- 13½ 10 - 13 11¼- 12½ 12½- 14¼ 12½- 13½ 12¼- 13% 7 - 12¾ 8 - 10¾ 8½- 11 ,_ 7 - 9½ 8}:(- ll½ 10 - 10 Orciron Short Line ....... .... - ... . 25 -. 25 ...• - •... 25¼- 26 27 - 27~ 28 - 82 ... - ..•. 25 - 25 25 - 25 20,¼- 2 i 20¼- 21 lll - 19 Orea-on & Transcontin'I 82¼- 8!l 711 - 86 x81¾ 85~ 7!l¼ -85¼ 8<J½- 85¼ 82:1(- 867/4 75½- 84½ 56 - 77½ x51 - 68½ 34¼- 54¼ 46½- 50¾ 29¼- 41l½ Panama .. .. ... ..... ............ - . .. . . . - . . ...... - ... ... .. - ... 100 -100 .. .. - ........ - ........ - . . . .. - .......• - .......• - . ... • • • • - ... . Peoria Dec. & Evansv.. 25¾- 28 lll¾- 25¼ 20¾- 24 20½- 2-1½ 16¼- 21 18¾- 227/4 17 - 20 12 - 16¼ 13 - 16 12 - 15¾ 14¼ - 17¾ 18½- 17½ Philn. & Readinir..... .. . 52),,(- 58¼ 41)¾- 55¼ 52¼- 54¼ 53~~ 57½ 51½- 56:J.( 52¼- 61¼ 54¼- 59¾ 46¾- 57 48¾- 52¾ 48 - 53 50?(- 53 52¾- 58¾ Pitts. Ft. W. & C,, a-uar, 185 -188 185 -136½ 185 -137 132:!(-186¼ 130 -184½ 131 -133 132 -133½ 134 -134 120¾-182½ 180¼-132!,si 182 -184½ 132.>i-134½ Special........ . . . .. . . . . . . . . . . . - . ... 133 -133 . . . . - •.. . 130 -180 . . . . - • . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . . - • . . . . . . . - . . . . . . . . - .... • • • • - ... . Rens. & Sn.rn.toa-a ... ..... 131l½-141 140¾-142 144 -144 142 -145 144½-145 145¼-145¼ •..• - .. .. 130¼- 189½ 141 -141 140 -141 145 -145 • •· - ... . Riehm. & Allt>gheny .... 14 - 15 10 - 12¾ 10¾- 11¾ 11¼- 15½ 10 - 14 5 - lCl¾ 6½- 7 5¾- 7 ... . - ... . 4¼- 5¼ •••• - •. .. 4 - 5¼ Richmond & Dn.nville.. 47 - 60 49¼- 56 62 - 55¾ 53 - 64 00 - 67¾ ~ - 64½ 55 - 72 68 - 69 57½- 677/4 53 - 58½ 57¾- 60 54 - 59 Richmond & West Pt ... 21¼- 29 21 - 26¾ 22 - 24¾ 22)4- 23¾ 88%- 87 81¼- Sil 28 - 84¼ :ZS - 33½ 21l¾- 33 20½- SJ 27¾- 33¾ 28 - 82¾ Rochester & Pittsburar. 20 - 22 16¾- 21¼ 19 - 20% 19¾- 23 18¾- 22 18 - 21¾ 16½- 10½ 14 - 17¾ 16¼- 19¼ 14½- 17¾ 15¾- 18¼ 14}{- 16:)4: Rome Wat. & Oirdensb. 32 - 82¼ ... - . . . . 84 - 84 34 - 34 .... - . . . . 29 - 29 ... . - .. .. . ... - . . . . . . - . . . . 15 - 15 19 - 20)._; 20)4- 21¼ St. Louis Alton & T. H. 48 - 71 60 - 61) 67}.(- 71¾ 69 - 71¼ 65 - 74¼ 73 - 85' 70 - 80 56 - 68 60 - 62 85 - 54½ 49 - 5tl 44 - 52½ Pref.... ... . . . .. . . .. . . .. . . . 00 -100\14 ll2 - 99½ 97 - 99¾ :x08 -103 87 - 95 93 - 97¼ 92 - 02 86 - 90½ 88½- ll2½ 80 - 01 02¼- ll5¼ Si - ll3 St. Louis&S. Francisco. 81¾- 84% 21l½- 82 80 - 80 SO - 85 32 - 36¾ 84¼- 35 SO - 88 22½- 29 27¾- SO 20½- 27¾ 25¾- 26½ 25¼- 26 Pref ........ . . .............. l50½- 54~ 48 - 51¼ 48½- 41lH 49 - 54½ 52¾- 59¼ 56 - 59½ 50½- 56½ 41 - 47 47 - 48¾ 42 - 47¼ 46 - 40¼\ 40 - 46 1st p1•et ....... ........... x93 -100¼ so - g3 oo - !l3 !l4 - oo ll6¾- og {,9 -100 ll3½- ll9½ 87¼- g2 89¼- ll<i½ 87 - eo Bil}.(- 89;),J I 87¾- !JO St, Paul & Duluth ... .. .. 88¾- 40½ 85 - 89½ 87 · 88 85 - 88 84!14- 89¼ 85 - 38 84¼- 88 33 - 89 85 - 88¼ 87 - 87 84 - 85¾ 84 - Si Pref........ . . . . . . . . . . . . . . . ll4 - ll7½ Ill - 05 91 - ll5 1)4½- ll7½ !l6!}.(- ll6;l.i'. x93¼ ll7¾ 02½- 04½ !l4 - 04½ 02½- 03 .. . . 90 - 00 02½- ll4 ~t, Paul Mi~n, & Man .. 139 -147¾ 183 -145 142½- 100 ~123 -161l½l ll4!,t-181¾ 115¼-l~¾ x03¼ 12-i¼ 105¾-111 107½-111 103½-10.i'¼ 97)4-107¾/ 04 -101~ ~outh Carohn <t. RR ..•.. 25 - 25¼ ..•. - .... 22½- 25¼ 27¾- 27½ 26¼- 27 25 - 2;:i 24¼- 25½ .... - .... 26 - 26 • •· • - .. .. ···• - .. .. . . .. - ···· Texas & Pn.cific ..... . . : ... 86114- 48 87¾- 40¾ 88~fr- 4.1 88)4- 43 84½- 40 S6 - SO¾ 82¼- 88¾ 24%- 34¼ 27)4- SO¾ 19 - 28¼ 20¼- 24 17¼- 28¾ 1 Texas & St. L. in Tex .. .... - ... . . .. - ........ - .... ... . - .... 18 - lll HI¼- 27¼ . ... - •.. 15 - 20 20 - 20½ 13 - 18 •··· - •··· Do in Mo. & Ark . . .. - . . . . . ... - .... . ... - ........ - . . .. 22¾- 24¼ 20½- 21 21 - 21 ...• - . . . . . .. - ..... •· • - • • • • •· • • - •· •· Toledo Delphos & Burl. 10 - 10 . . . . - . . . . ll¾- Ii¼ . ••• - • •• . . • • • - • . • • 8 - 8 7½- 7¼ .. . . - •......• - . . . . . . . • - . . . . ·.. - · · · · · · · • - • · · · Union Pacific. . ... . . ... .... llS?(-104-¾ 91¾- 00:)( !JS¼- 99¾ W.J,(-101¾ 91¾- !JS½ ll3,14- llS¾ Ill¼- ll5½ 867!:- ll3¾ x87½- ll5¼ 84¼- 92 t-6¼- 91 x70¼- 89 United Cos. of N. J .. ..... 187½-187½ ...• - .... 188½-188½ ... . - .....•• - ... . ... - ........ - •....... - •....... - •.. . 193½-193½ 195 -lll7 195 -195 Viraiuin. lllidln.ud . ....... ,20 - 28¼ ...• - . . . . 24 - 25 25½- 81¼ 80 - 81 24½- so 28 - 24 20 - 21 20¼- 22 20 - 80 20 - 22 21 - 23 Wah. St, Louis & Pac .. 82 - 86)4, 26¼,- S3 2d¼- 80,¼ 28¼- S3 25½- 21l% 26¼- Sl¾ 24½- SO~ 15 - 25¼ lll¼- ~ 17¼- 21:U 20 - 23 17 - 2~  I  I  _ • J.C.x-prlvilege.   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  RAILRO.AJJ .ANJJ MISOELLANEOUS STOOKS.  tssa- <Joncloded. MAV.  AUGUST. SEPT'ffYR. OCTOBER.  Nov'BRR. DEC'BER,  - - - ---- - - ---·- --- ---- ---Low.High Low.High Low.High Low.High Low.High Low.High Low.High L ow .High Low.Hhlh Low.High Low.High Low.High -- - -- - - - - - - - - ---- - - - - - - - w ab. St. L. & Pac., pref 52 - 57½ 44¾- 1587/4 4'i - 50U 46 - 58¾ 40½- 47¾ 42 - 46½ 88¼- 45¾ 29¼- 89 82¼-86¾ 29¼- 84¼ 82 - 85¾ k{%- 35 .... .. .. .... ... . ... .... .... .... .... . .. . . ... .... . ..... .. .... .... -118 .... .... - .... w arren ......... . .... . ..... 118 - ··• · JANUARY FEBR'RY.  • '  MARCH.  APRIL.  JUNl'l.  JULY.  STOCKS.  ·••·  TELEGRAPH. 57 ~ 68¾ 65 - 677/4 66 - 677/4 65¼- 69¾ 66¼- 69¾ 66 - 6"¼ x61¼-67¼ 61¼- 65¾159¼- 64 x61¼-64 A merican Tel. & Cable. 65¼- 69½ x64¾ 69 81 - 81 85 - 47 .... .... so - St - .. . 29 - rn !:9 - 29 28.½- 28½ 28 - 28 .... .... . .... A merican District ....... 80 - 40 . .. .... . ... .... .... .... .... 121 -122 128 -140½ x128¼-l33 182 -185¾ 185¼-189¾ x1187,(~ ll ankers' & Merchants' 128 -183 .... - . . .... .... .... .... . ... .... .... .... .... .... ··•· .... ... . .... .... . ... . ... 82 - 82 G old& Stock ......... .... 06¾- 96½ 00½- 96½ .... M utual Union ............. 21 - 25 19 - 28½ 17½-20¾ 18 - 21}.i 19 - 21 19 - 20 18 -19 15 - 18½ 16 - 18% 16 - 19¾ 17 - 21¼ 17¼- 17¼ 78¼80¾ x78)479¾ '74¼81½ w estern Union ............ 79¾- 85¼ 79¼- 84¾ 8 ' ¾- 85~ 82¼- 8-1¼ 80¾- 84 82¼- Bts¼ 77~- 84¾ 71¾- 80½ 77¼- 88~ EXPRESS. A dams ....................... 183 -185 182 -135 !27 -188 128 -180½ 126½-129 128½-180½ 181½-185 188),(-185 131 -185 180 -181½ 180¼;-188 :28 -181¼ 89¼- 91 xOO - 93¾ IH.)4- £4 x89¼ 9-1¼ 88¾"- 90¼ 88 - 90 88 - 02 88 - 91 88½- 00½ 88½- 90 merica.n ..... . .. ... ...... .. 90½- l/8 90 - 92 A u nited States ....... ...... . 62½- 65¼ 61½- 65 5:> - 60 58 - 62 55¾- 61½ 60 - 63,, 60 - 63½ 59 - 62~_; 60½- 61½ 58¼- 60 57½- 60½ 56 - 60 w ells, Fara-o & Co ....... 124%-126 122 -125 122 -124½ 124 -125¾ 124 -125½ 125 -128 120¼-126½ 117 -120½ 116¼-120 118 -117¾ 114¼-ll~ 113¼-117¼ COAL & llIINING. 15 - 16¾ .. .. - . ... .. .. . ... ... . ... - ... . .... . ... .... .... .... .... . ... . ... . .. .... 14 - 14 C ameron Coal & Iron .. 17¾- 18 .... .... - . ... ¾- }-. .... - .... .... - .... . .... .... .... .... .... .... .... - ... ¼- )4 .... C entral Arizonn Mining ¾- ½ .... - .... C olorado Coal & Iron ... 28¼- 82¼ £8¼- 83¾ 81¼- 88 82 - 89¾ 88 - 88¼ 29 - 85 26¼- 82 19 - 27¾ 20½- 23½ 14 - 24 14½- 18),4 15 -1~ .... 24 - 24 .... 24 - 24 ... . 26 - 26 C onsolidation Coo.I.. .... 27½- 27¾ 27 - 27½ 25 - 26 -· ·· 24 - 24 24 - 27½. .. .... .... .... 17,½;- 18 8 - 10 13½- 12 H omestake lllinin:: ..... . 17¾- 19 x16¼ 17¾ 15 - rn 13 - 16 x15 - 16¼ 15½- 16 15½- 17¼ 17 - 18 ... .... 12 - 12 .... ... .... .... 10 - 12 10¼- 12 M aryland Coal. ........... 17 - 17 17 - 17 .... - ... . 15 - 15¼ .... - . ... 15 - 15 .... 9 - 10 9 - 10 9 - 10 .. 12½- 12¼ 10 ~ 11 10 - 10 N ew Ventral Coal. ....... 14 - 14 13 - 14 12½- 13 18 - 13¼ 13 - 13 .... .. 29 - 80 29¼- 29¼ 25 - 27 ... .... ... .... 2'2½- 24 27½- 27½. .. 0 ntario Silver Mining .. 84¼- 85½ 18 - 84 26½- 27¾ 24 - 2/J p ennsylvania Coal. ...... .... . ... .... 270 -270 .... - .... .. . ... -··· - •• ·· 280¼-280¼ 280¾-280¾ .... - .... 276 -276 .... . .. . 260 -260 .... . ... 5¼- 6½ .... - .... 5 6 8)4 8¾- 9¼ 8½- 8½ '77/4- 8¼ 'i½- 8 7½- 8¼ 'i½- 7½ .... Q uicksilver Minina-...... .... - . .. . 8 .... Pref. ................ .... 87¼- 89 40 - 41¾ 42 - 46½ 44 - 44½ 40 - 48½ S'i½- 87½ 88¼- 88¼ 83 - 84 88 - 83½ 81 - 82½ 80 - H3 .... .... 29¼- 80¼ _pring lllountain Coal . .... .... .... .... .... . .... ... - .... .... . ... .. .. .... .... .... . ... - .... .. .. .... 5¾- 6¼ 6¼- 7 .... .... 0 - 6¾ x~- 7 6¼- 7¾ 5¼- 6½ 5¼- 6 tandard Consol. Min'g 5¾- 6½ 5¾- 5½ 6¼- 6¼ 6¾- 7 VARIOUS. .... .. .. .... 50 - 50 .... .... .... - .... .... . ... .... - ...... .... .... .... .... - .... .. .. .... Canton Co .................. .... D el. & Hudson Cano.I. .. 107 -lOfJ½ 105¾-108¾ 106%-108½ 103¾-112¼ 107¼-110¾ 103 -110¾ 1077/4-110¾ xOS¼108¼ 104¾-108¼ 102},-107¾ 104%-107¼ 104¼--106¼ l ron Steamboat Co .. .... ... .... - ·•·· .... - .... ... .... 86 - 86 ··•· .... .... •· ·· . ... , ... .... .... .... .... .. .. . .. . .... .... .... .:d10-.r112 81 - 96 no -110 115 -125 .... ... 55 - 57 68 .:. 81 N • Y. & Texas Land ..... .... ··· - -·· · - .... ~15 -124 ... .... x83 - g1x; 80¼- 85½ 78 - 84 81 - 86 86 - 91 77 - 88½ 75 - 89 66 - 80 70 - 81 5B - 75 0 rea-on lmprovem't Co . 124 -138 112¼-118 00 -::.15 127 -140 xOO -125¾ 0 regon R'y & Nav. Co ... 186 -144 182 -188 187 -140½ 188)4-144¾ 188 -140 139 -150 136 -140.><. p acific lllnil S. S . ......... 89 - 48¾ 39¼- 42¾ 40,:(- 41¾ 40¾- 44:),4 4:l¾- 48 80½- 89¼ 85¾,- 88¾ 87½- 42¾ 40½- 4! 41}.(- 43½ 85 - 42¼ 28 - 87 p ullman Palace Car .... 122 -126 117 -122 119 -122½ 121 -180 x26½ 180 127¼-184 128 -184 124½-182 128 -180½ 124 -129¼ x21¼128¾ 112¼-128 .. .. - ... ¼- ¼ .... .... ..... .... ... .... 8 utro Tunne~. ... per sh. ¼- ;( .... ¼- ¼ ¼- )4 .•• • - . ... . ... - .... ¼!kc  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -. . .... .... -- .... -  -  -  -  -  -  -  -  -  .... ....  -  -  -  -  -  -  -  -  -  .... -  -  -  -  -  -  . .... -  -  -  -  -  -  -  -  I  1884. JANUARY FEBR'RY.  U.ARCH .  .APRIL.  MAY.  JUNE.  JULY.  AUGUST. SEPT'BER. OCTOBE R  NOV'BER. DEC'BER.  STOCKS, - - - - - · - - -- - - - • - -+T _,o_w_ .H_1_·g_h_ L_o_w_._H_ig_h Low.High Low.High Low .High Low.Hig h L ow.High Low.High ~-~w.Hi~h Low.Illgh Low . High ~1:£1gh 1  RAILROAD, Albany &Susquehanna. 182 -185 ' 185 -185 138 -138 188 - 138 128 -188 ... - .... 120 -127 131¼-133¼ 129 -18~ .... - .... 129:¼J-180 .... - .... Atchison Top. & S. Fe .. 8044- 80¾ .... - ... . 78¼- 79 76 - 78¼ 70¾- 77% 62 - 7J .... - . . . 71¾- 'i6¼ 71½- 72¾ .... .... - .. . . 7~- 78 Bost.& N.Y. Air-L., prt 81¾- 82½ 81¾- 82:/4 80¾- 88½ 82¼- 83 81 - 82¾ 81 - 84 88 - 84 88 - 90 87 - 57 86 - 86 86 - 88 86 - 86 Buffalo Pittsb.& W,prf. .. . . - ........ - .... •·· • - • •·· • •·. - ........ - . .. . . . . - .... .... - .... • •· • - ... .... . - .. . . 10 - 10 ...• - ........ - ... . Bur. c. Rap. & North .. . 70 - 80 75 - 75 73 - 78 66 - 66 60 - 60 50 - 60 60 - 60 68 - 63 61 - 6j 60 - 60 60 - 60 50¼- 50!,( Canadian Pacific. x58¼- 58¼ 53 - 56¼ rm - 55¼ 45¼- 58¼ 40 - 48½ 89 - 45½ 41¼- 47 43 - 43¼ 48 - 45 48 - 46¾ 48¼- 46 48½- 45¼ Canada Southern....... 48¾- 5t¾ 52¾- 577/4 52 - 55¾ 46¼- 52¾ 85 - 47¾ 24¾- 40¾ 26¼- 89 84:1:(- 89¼ 29¼- 86 28!,i- 84½ 2811(- 82½ 29 - 82 Cedar Falls& Minn . .... 10 - 12 {l - 10¾ 10 - 11 .• - .... 8 - 9 8¼- 8½ 8 - 8½ S¾- 8% 9 10 9¼- g¾ O½- 11 11 - 11 Central Iowa. . . . . . . . . . . . . . . . . . - . . . . 11 - 18 15 - 16 . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . . _ . . . . . . . . _ . . . . . . . . _ ... . 1st pref. ........ ..... ... .. . . . - . . . . . . . . - . . . . . . . - . . . . 21)4- 24½ . . • . - . . . . • . . - . . . . .. .. - . .. . . . - . . . . • • - . . . . . .. - . . .. . . . . - . . . . . . . . - . .. . Central of New Jersey. 83¼- 90 86 - go 86¼- 89)4 76¼- 87¾ x.49 - 81 52¼- 60 55!,!- 67½ 577/4- 65½ 48_½- 60½ 89¼- 51~ 89;1:tx44 87½- 47¼ Central Pacific ............ 68¼- 67¾ x59¼x65¼ 57½- 62¼ 4'.J¾- 58¾ 84 - 5\l 80 - 45¼ 80~ 4! 80 - 41¼ 87¾- 42¼ 86:¾;- 43¼ 32¼- 88¼ 82%- 86¼ Chesapeake & Ohio... .. 18¼- 15 18}4- 14 34 12¾- 14.¾ 10 - 18:l,i\ 7 - O½ 5 - 10 6½- 8½ ~~- 9 7 - 8 5 - 7% 5 .• 6¼ 5¾- 6¼ 1st pret. ... .. .. . . . . . . . . . . 21 - 25:}t; 23¾- 28 24 - 26¼ 20¾- 25¾ 14 - 22 9½- 18¾ 12 - 15¾ 14½- 1~ 14 - 15 10¾- 18 10 - 12 9¾- 11¾ ~d pref .. . . . . . . . . . . . . . . . . . . 15 - 17 15 - 17 H ½- 17 14 - 16 7 - 13 8 - 11 7 - 11¼ 10 - 10¼ 8 - 8¾ 8 - SJ<( 6¼- 8½ 7 - 7 Chicaao & Alton .......... 188¾-189½ x188¼40¼ 185 -1J7 135½-187¼ x126-189¾ 118 -129 120 -183 132 -136 130 -183 128 -182 126½-180 126 -138 Pref........ ................ 150 - 150 x152-x152 ... . - .... 147 -1'50 144 -1: 0 142 -H6 145 -145 .... - ...... .. - . ... 145 -150¼ .... - ........ - ... . Chic. Burl. & Quincy ... 118½-123 122 -127¾ 122¾-125½ *120-125½ x108-123;14 107 -117 108½-121 118 -125½ 119½-124½ 117)4-128¾ 116¾-121½ 118½,-122¼ Chic. Mil. & St, Paul. ... 84¼- 04¾ 88%- 94¾ :z:85¾- 98¼ 80¼- 87¼ 65 - 84 58¼- 77 60¼- S6½ 81 - 89¼ x76- 86¼ 72¾- 81:¼' 78 - 80½1 69¼- 811),t Pref........................ 118¾-117 ll4¾-119 :x:113¾ 177/4 111;14-114½ 100 -118 95%-110¾ 98%-110 109¼-1 !3¾ x105-110¾ 102 -106½ 10-l -107 102¼-109 Chic. & Northwest .. ..... 112¾-118U 116¾-124 116 -1207,,~ 110¾-116¾ P2½j-1137AI xSl¼-103 84 -104¾ 98%-106¼ 87¾-101}$- 84¼- 98¾ f2:J,(- 92¾ x.82¾- 92¾ Pref ............ ............ 140½ -147 l41¾-149½ 140¼-145¼ 140 -145 122 -142 117 -131¼ 122 - 184 133 -183 123 -xl85 122¾-129 120¾-126¼ 119¾-127¼ Chic. R. I. & Pacific ..... 115*118 117l!,4-126¾ 118¾-124½ 117½-121¼ 10794-119¼ 100¼- 113¾ 104 -115 11::!½-117½ 111%-117½ 110 - 116~ 103 -111% :z:104 -11¾ CJhic. St. Louis & Pitts. 9%- 18¼ 10 - 11 9 - 11 9 - 10 8 - 10 6¾- O¾ 6¼ 9¼ 9 - 10½ 6 - 6 S - 9 7 - 8¾ 7 - 8)4 Pref............. ............ 29 - 85 28 - 81½ 25 - 26 25¾ - 27 20 - 2i½ 20 - 2'.l½ 18 - 21 20 - 20 18 - 18¾ 17 - 18¾ 16½- 16½ 17 - 17~ Chic. St. Paul M. & O... 27½- 84½ 29~- 88½ 29¼- 81¾ 20¾- 82½ 24½- 82 21¼- 29½ 22½- 88 81¼- 88¼ 29½- 84¾ 2 J - 88¼ 26½- 81 23 - 80¾ Pref .. .. .. .. ... ............. 88½- 95¼ W¾- 96¼ x.90½- 04¾ 00 - 96 81 - 94½ 80¾- 91 80¾- 9fl¾ 98 -100 90 - 95¾ x8:;¼x94¼ 85½- 02 82 - GI¾ Cin. Sandn!!kY & Cleve. . . . - . . . . . . . . - . . . . .. . . - . . .. .. . .... . . . . - .. . . . . . . - . . .. . . . . - . . . . 24½- 24½ 23½- 23½ . . . . - . . . . .. . . - .. .. Cleve. Col. Cin. & Ind... 58 - 88 6:& - 66 64 - 69½ 51½- 65 84 - 52 28 - 42½ 82¾- 40 88 - 46 86 - 42¾ 85 - 40 :;2 - 36¼ 31¾- 87 Cleve. & Pitts., 1roar . ... 139 -18{1 188 -188 188 -140 189 -141 140 -140 125¼-185 188 -187 187}(-138 188 -140 189 -140½ 187¼-140 187 -188½ Columbia&Greenv., pf . .. .. - . .. 83 - 88 ... - ..... ... - .. . . ... - ..... .•• - ........ - .. ...... - ....... - . ... .... - .. ..... _ . ....... - . .. . Col. Chic, & 1ml, Cen .. .. 1¼- 2 1 - 1 .... - ... . .... - . .. . 1 - 1 ::.¼- 1¼ 1¾- 1½ 1¼- 1½ 1¼- 1¾ ... - ........ - . ... .... - .. .. Danbury & Norwalk.... 50 - 50 00 - 50 50 - 50 50 - 50 50 - 50 50 - 50 50 - 50 50 - 50 ... - . . .. .. - ........ - .. . . ... - . . . . Del. Lack. & Western .. 114¼-12't 120¼-182½ 128 -188¼ x116½ 24¼ 90½-119¾ 96¼-112 104¾-117¾ 107¾-116¾ 102½-111½ xlOl½ 10¾ 100¼-lll xS0¾-111 Denver & Rio Grande.. l'i¾- 25¾ 18¾- 22¼ 17¼- 21 10¾- 19¼ 9½- 18¾ 6¾- 12¾ 7½- 11:U 10¼- 14¾ 9 - 12½ 8½- 10½ 8 - 9¼ 8 - 9¼ Dubuque & S. City ....... 76¼- 78 78 - 80½ 80 - 82 139 - 75 67 - 70 60¼- 68 56 - 66 66 - 66 6:5 - 65 52 - 60½ 55 - 56½ 57 - 59 East Tenn, Va. & Ga.... 5½- 6¾ 6¼- 8¼ 6½- 8 6 - '7¾ S½- 6½ S¾- 4¼ 8¾- 5¼ 4½- 6¾ 4¾- 6¼ 4 - 5¾ 8¼- 4:Ji 8 - 5 P1·et .. .... .. ... . ....... 10¾- 12¾ 12 - 14½ 12)4- 18 11 - 12½ 7 - 11½ o - 7¾ 6%- 8¾ 7?,s- 10½ 7¼- 10 6½- 8¼ 63-9- 8 4¾- 8¾ Elizab. Lex. & Big S .... .... - . . . . ... - ........ - ........ - . . . . . . . - ... . .... - ........ - . .. . 25 - 25 .. .. . . . - ... ..... - ........ - ... . Evansville & T. Haute 40 - 51 42 - 49½ 42 - 50 88 - 48 87 - 40 .. . - . . . . . . . • - .. . . 32 - 35¼ 82 - 84½ 80 - 86 80 - 84 82 - 85 Green Bay Win.& St.P. 5 - 5 5 8¼ 6½- 8½ 6¼- 7M 4 - 6 5 - o 4½- 5¼ 4¾- 6¾ 4¼- 5-)1; 4¼- 5¼ 4¾- 5;4 8½- 8¾ Harlem .......... . ........... 1\13 -107 194 -194 i192 -200 19u -198 192 -198 188 - IM½ 1S5 -188 193 -198 191 -193 185 -188 .... - .... 189¼-195 Pref. . ..................... - ........ - .. . ... . . - ........ - . . . . - ........ - ... ..... .... - ........ - . . . . .. - .... 185 -185 .. . . - ... . Houston & Texas Cent. 44 - 51 45 - 50 I 45 - 45 40 - 45 . . . . - . . . 20 - 20 20 - 84 80½- 88 80 - 88 84½- 85 SO - 38½ 84 - 88¾ Illinois Central. .......... 132¼-187¼ x180-140 123¾-181~ 125½;-180¼ 115 -129 110 - 120 112%-130 x124-180 122¼-12G½ 112¼-124 112 - 121}{ 115¾-121½ Leased line, 4 p, c. .. .. 81½- 88¾ 83 - 85 I 84¾- 86 85 - 85 82½- 85 75¾- '!4¼ 70 - 82)4 83 - 86 82 - 84½ 82 - 84½ 84 - 84 84 - 85 Ind. Bloom. & West. . .. 15 - 20¾ 15¼- 18¾ 16¼- 19½ 15 - 18 10 - 16½ O - 12¼ 10½- 15½ 14½- 13 14¼- 17½ 1372- 17½ 18 - 16 11 - 16 Joliet & Cbicaa-o . . ....... ... - ... .. ... - .... 145 -145 1&7 -187 .... - ..... .. - . . . 140 -140 140 -140 .. .• - .... . ... - .. . ... - .... . . .. - ... . Keokuk & Des .'tloines . .. . - ........ - .. ...... - ........ - ........ 5 - 5 . . - ....... . - .. . .... - ...... .. - .... •· - ... . Lo.keErie & Western .. . 15¾- 19¾, 16 - 19½ 16½- 19¾! 15 - 16¾ o r·6¼6¼- 18½ 12 - 17 11!4- 15 11 - 15 11 - 12 8¾- 11~ Lo.ke Shore................ 98¼- il9¼ 977,11-104½ 100¾-1C4¾ x94¼ 102% 81 - 97¾ 67¾- 88 70¼- 88¾ 78¾- 88¾ 74½!- 82½. 63¾- 'i8½ 63¾- 70 59½- 69¾ Lon~ Island... .. .. ......... 135 - 69 67½- 72 71 - 78¼ 1 70 - 77 62 - 72½ 68 - ~o n6 - 69½ cs - 70 64¼- 69 62 - 65 62½- 65½ 62½- 64½ Louisiana & Mo. Riv . . . . .. - . . . . . . . . - . .. . .. . . - . .. . . . . . - .. . . . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . 22 - 24 •••• - • • • • 19½- 19¾ 1 Pref . ...... • ... • . . . . . . . . . . . . . . . . - • ••• • •• • - , • , • .. .. - .... I . • • • - .. • • • • • • - • • • • • • • • - • • • . 88 - 40 . . . . - . . . . . . . . - .. .. . . . . ••• • - · •• • Louiaville & Naahville. 42¾- 49¼ 46¼- 50 47¾- 51¾: «,1- 47¼ 29¼- 47¾ 22¾- 87½ 2~- 87¾ 29¾- 36¾! 25¼- 81½ 24),.(24~- 27¼  i5.  ~{½  ao. f i2½- 28. .  • Ex-prlT!Jege.   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  RAILRO.AJJ .ANJJ MISCELLANEOUS STOCKS.  78  --===================== ==================== 1884-Concluded.  STOCKS.  -----------  Louisv.New Alb.&Chic. Mn.nhnttnn Elevated... . .. . . . .. . 1st pref.... .... Common. ... ... ... . .. ..... Consolidated . . . . . . . . . . . . lUanlmttnn Beach Co .. . Memphis & Charleston. Metropolitan Elevated. Michigan Central. ... .... Milw. Ln.ke Sh. & W . ... Pret.. .. .... . . . . . . . . . . . . . . . . Minneapolis & St. L .... Pret ............ ... ..... ... . Missouri Kan. & Texas Missouri Pacific ......•... Mobile & Ohio.. .. . . . . . . Morri11 & Essex ........... N ashv. Chatt. & St. L. . . N. Y. Cent. & Hud. Riv. N. Y. Chicn&-o &St. L. ..  JANUARY FEBR'RY.  MARCH.  APRIL.  MAY.  JUNE.  JULY.  - - - - ---·---1-----1------1-----1-----I--·- ·-  AUGUST . SEPT'BER OCTOBER. NOV'BER  ---- --  1JEO'BER.  Low.High Low. High Low.High Low.High Low.High Low.High Low.Iligh Low.High Low.High Low . High Low.High Low.High  ---25 40 S2 42  S5 49 8! 45  -  ----- ---- - - - 18 - SO  46½- 59 88 - 92  17¼44½80 53¾·  28¼- 25 25 57¾ 41 - 50 98¼ {)0 - 93½ 59½ 48 - 51  1~43¾88 50 -  20 57 98¾ 55  12 - 18 48 - 59¾ 90 - 03 50 - 57  14 E3 8tl .. . .  -  18½ 60 91 . .. .  :8½- 22 60 .. .. 65 70 10 28 90  -  15 - 20 65½- 66¼ 67 .... .. - ... 6i½- 64½ 65 'iO - 76 79 11 - 12 12 26 - 29½ 80  14½- 15~ 10 - 10 . ... - .. •. .... -  ---17 - 17  .... .... -  ..•.  . ... - .... .... - ... . . ... - ... . ... . - ........ - ........ - ... . 58 - 50 72¾- 77¾ 69},.,- 73¾ x64½- 72~ - . .. . . . . - . . .. . .. . - . .. . . .. . - .. . . .. . - ... . ... . - .. .. .... 10 - 12 . . . . - . . . . 10½- 11¼ 12¼- 16 18¼- 20 12½- 20 19 - 24 16 - 21¼ 20½- 2t 15 - 10 26 - 29¾ 27 - SO½ 25 - 28 24 - 30 28 - 29 25 - 87 33 - 86 82 - 85 S2½- 40 82 - 40 99¾ 94 - 06% 95½- 97¾ 03½- 98·¾ oo _ 93 8:'i½- 91 85 - 80 87 -102 08 -10S½ 100 -105 90 - 00 90 - 92 5! - 63¾ 52¾- 60¼ 54¾- 61 66¾- 72¾ 60 - 69 51➔-!- 73½ 54 - 73 64 - 82 85 - 08½ 00 - 01¾ 89¾- 94½ 81¾- 91 .. . . _ ... . 10 - 12 .... - ........ - ........ - . . . ..... - . .. . .. - ....... - ........ - . .. ... . - ....••• . 16 - 16 31 - 31¼ • • • . - . . . 82 _ 82 . . . . . . . 80 83 38 83 83½- 8-l 32¾- 87 80 - 44 87¼- 30 34 - 34 83.J.s- 38 10 _ 18¼ 11¼- 18 11 - 14 7½- 12¼ 11 - 15¾ 14¾- 16¼ 12½- 13 14 - 18½ 16 - 18½ 15,.(- 17¼ 18¼- 16¾ 11 - 15 25½- so 22 - 81¼ ::o - :::4¾ 27½- 82½ 25½- 80¼ 25 - ::m 27½- 82.J.1, 17½- 27½ 17 - 28 84 - 86½ 84 - 84 Sl¼- 88 13¾- :l'i¾ 14¾- 18¼ 16~ - 23¼ 20¼- 28¼ 1~- 22¼ 13~- 20~ 11½- 17¾ O½- 17½ 11¼- 19¾ 17½- 22% 16,~- 19½ 15¾- 19 91¼- 92¾ ~9¾- 95¼ x89¼- 95¾ 00 - 05½ x90 - 95 027,rlOO S5¼- 91% 00 - 9:i x80 - 9!¼ 70 - 86¾ 68½- 82¼ 80¼-100 . . . - . . . . 7¼- 7>:i . 9 9 . . • . 9 - 10½ 10 - 10½ . • . . 6¼- 9½ 8 - 10 10 - IS¾ 11 - 18 S½- 10¼ 9½- 11 121¼-127 t23¾-125 124¼-126 125 - 126 128 -120 xll6-126 117 -12:¼ 122 -124½ 124 -124¾ 122 -124½ 122 - 124¾ xll5 -124 80 - 40¼ 85 - 80 84½- 83 88 - 89 86 - 48½ 88¼- 45 88 - 50½ 80 - 45 51 - 54 61 - 54~ 53 - 58 40 - 56 84 - 06¼ 88½- 0()7,i; x88¼- 92% 110¾-115¾ 114 -118½ x18~ 12] 118 -115 l03¼-ll4~ x94¼ 10S% 97¼-111% 102¾-112 x98¼ 10! 5½- O¼ 5 - O¾ 6¼- 7½ 5¾- O½ 5¾- !i¾ 5 - (;¾ 4 - 5¼ 8¼- O.¼ 8¾- 10¼ 8¾- 9¼ 7¼- 8½ 5.½- 8 7J.i,- 8¼ 9½- 11¾ 11 - 12¾ 10 - 11½ 0 - 10½ fl¾- 9 O¾- 14 15}<!- 17¾ 0 - 10 17¾- 20¾ 1 ~ 10 Pref........ . . . .. . . . . .. .. .. . 16:J(- 20 ... - .. .. lHi -115 .. .. - .... .... - .. . . 115 -115 180 -180 New York Elevated ..... .. .. - ........ - ........ - .... 125 - 125 .... - .... 115 -180 88 - 87½ 88½- 83¼ 87½- 89.X: 86%- C9¼ 60 - 87}( 80 - 89½ 85½- 89¼ N. Y. Ln.ck. & West . . . . . 85 - 87¾ fi7½- 91 ~ x90 - 92½ 00½- 04h1 S4 - 02 12 - 17¼ 15 - 19½ 12 - lG½ 12¼- 15¾. 12 - 15½ 13%- 15~ 17¾- 22¼ 13½- 19½ 11¼- 16 N. Y.LakeErie&West. 24¾- 28¾ 24¾- 27¾ 20¾- 26 27 - 85 25 - 3..l 25 - 84¼ 20 - so 47¼- 53½ 82 - GO½ 20 - C4¾ 25 - 84½ l:8 - 80 57½· 71 08¼- 70 ·~1·ef. .... .. . .. .... .... .. . 66½- 70 18 - 10½ 10 - 14% JO - 11¼ O¼- 10½ u - 13>:( 10 - 18 8 - U N. Y.&NewEnqland .... 12¼- 17¼ 13¼-14.½ 12 - 15¾ 14 - 17.½ O - 14 N. Y. N.Haven&Hartf. 176 -178 !77 - 180 180 -182 180 -182 181 -184 177 -188 17j -177½ 170 -17.:,}f 175 -179 177 -180 170 -1S0 175 -180 11%- 14~ 10¾- 12 11½- 14,t 10¼- 12§{ 10¾- 1'.:l 8§s- 13 N. Y. Ontario & West... 8¾-- 16½ 10¼- 11¾ O¾- 11¼ 8 - 10¼ 7½- 10¼ 7 - 10 l¾- 2¼ 2¾- 8 8½- 4½ 4 - 4!{ 8 - ~ S - 5}( 8¾- 8¼ 2½- S 4 - 5 5 - 6 S¼- 5}t 5 - 6 N. Y. Susq. & West..... 4¼- 6½ 10 - 10¾ 8¾- 10 10 - 10 10 - 12½ •.. - ••. . 10 - 10½ 9½- 1~ Pref... ..... ....... ......... 18 - 16¼ 14½- 18¼ 10 - 16½ 14 - 16 - ... . .... 12½ 12½. . . . ...... . . . . - •..... .. - .. . ... . . - .... . ... - ... . . ... Norfolk & Western..... . 10 - 10 11 - 11 .. . . - . ••. 11 - 11 17½- 22½ 17 - 21 2J - £5 25 - rn 28¼-:_S2¼ 22½- 29¾ 26 - :·!O 29½- 38 88 - 41 40 - 41 85:}.£- 42 Pref . . ................. . ... . S7½- 41 21 - 219'( 17½- 22¼ 17¼- 21¼ 17¼- 16¾ 16 - 18½ 20.!i- 28¾ :.!0%- 22½ 19½- 22¼ 18¾- 25¾ 14 - 22:}s 15¼- 28 Northern Pacific .......... 18¾- 27 Pref ............ ........... 40½- 57¾ 44%- 49¼ 45¾- 49¼ 40 - 49¼ 41 - u4¾ 87¼- 50Y,; S9 - 52% 48¾- 55¼ 41½- CO¾ 41½- 46½ 40¼- 48¾ 88¾- 42¼ 2 - 2¾ l J.!- 2¾ 1%- 2}{ 1¾- 2¼ 2 - SJi; 2¼- 4½ l¾- 2¾ l¾- 2% 1 - 2 2½- S Ohio Central... . ....... . ... 2½- 8¼ 2¾- S 20½- 28¾ l't?jj- 22¾ 1::!4- 20¼ 16¼- 19}.( 17:ir 21¾ 14%- 21½, 10¾- 21 Ohio & Mississippi. .. .. .. 22 - 24¾ 21¾- 28% 21½- 25¼ 16¾- 22¾ 14%- 23 45 - 45 . . . . - . . . . 451/.r 64 . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . - . . . . 45 - 00 Pret...... . . . . . . . . . . . . . . . . . 00 - 90 . . . . - . . . . . . . . - . . . . 00 - 00 9½- 10¼ 8 - 0½ 8¼- 11¼ 0 - 11¾ o - 10 7¾- 9 7¼- 7¼ 6½- 8½ 5 - 7 Ohio Southern.... .. . . . . . . 7 - 8½ 7½- 8½ 7¾- 0 15 - 16¼ 15 - 15½ 13 - 15 .... - . . . . 8¾- 14½ 12 - 12 .... - . . . . 14½- 16 15 - 22 Orea-on Short Linc ...... . l5 - 15¼ 16 - 2~½ 20 - 24 7½- 14½ 13¾- 18½ 11¼- 16½ 11.½- 15 Jl¾- 14% 12 - 14¼ O1•egon & Transcontin'I 16¾- 84¾ 18¼- 25~ l8H- 22¾ 15¼- 21:i( lCJ¾- 10¾ 6¼- 16 12 - 14½ 14 - 17¾ l '.:¾- D½ 12½- l :¾ 1::!½- 15 0 - 1..1.¾ 7 - 12¾ 8½· 15 14½- 16~ Peoria.Dec. & Evam1v .. 1S - 15½ 13 - 17 14¼- 17 20¾- 2 ½ 16¾-- 28½ 22¼- :::9½ 26¼- 30¼ ~4½- ~7¾ 21 - 27 Philn.. & Rcadini;:. ... .. . 51½- fi9¾ 53¼- 6()% Ci2¾- 60¼ 4lia- 55¼ 24¾- 44 22 - 26 Pitts. Ft. ,v. & C., auar. 181 -182½ 182½-134¼ 128:¼-184J.!? 128:)4-135 127 -131 l~O _-138¼ !20 -180 128½- 188 128 - 13Z 125¾-130 125 -127 119½-128½ . . . - ........ - . . . 140¼-142 141 -144 140 -143 Rens. & Sn.rntoa-n. ... ... . . 1.48 -145 14':3 -144!1:{ 144 -145 !45 -146½ 144}-,f-145 188 -140 138 -141 2¼- 2½ 2¼- 2¼ 2¾- 8 2½- 8 8¾- 4½ S - 8½ 2¼- 8¾ 2¼- 2½ 8 - 8½ 8 - ti 4 - 5 Riehm. & Allegheny... . 4 - 5 43 - 45 84 ·- 45 35 - ll7 45 - 4G 89 - 45 82 - 83 40 - Ci2½ 37 - 40 67 - 58½ 62 - r,5 57 - 01 Richmond & Danville.. 52½- 56 18 - 20!,.{ 12 - 19¼ 16 - 21¾ 17¼- 22¼ 15 - 17½ 15 - 23 12 - 21 28 - 29.¼' 25½- 28¾ 10 .• 27 2i½- 82 Richmo nd & West Pt... 26)4- 31 2¾- S¼ 5 - 0% 8 - 7½ 1¼- 4½ 2¾- O¼ S½- 5¼ 8½- 4½ 2¾- 1 Rocheste1· & Pittsburg. 1$¾· 15¾ 14¾- 16¾ 13~- 14¾ 8¾- 14 18 - 18¼ !7 - 17 20 - 20 .... - .... 19 - 20 .... - .... 14 - 14 21 - 24 . . . . - ... . 19¾- 20 21 - 22 Romo"\-Vat. & Ogdensb. Hi¾- 20 20 - :.:O¼ 20½- 22¼ 18 - 20½ zo - 26½ rn - 31½ . ... - .... 21 - 24 44 - 47¾ 50 - 50 ... . - ... . 20:¼- 85 St. Louis Alton & T. H. 40 - 48 75 - 75 . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . . - ... . 04 - 06 . . . . - . . . . . . . . - . . . . . . . - . . . . 'i5¼- 75½ 70 - 73 Pref . ...... • . . . ... •...... • • 88 - Ol 17¼- 20½ 18¼- 24¾ 20 - 23½ 10 - 22¼ 20 - 22¼ 14 - 21 11½- 10 18 - 25 St. Louis&S. Francisco. 20 - 20½ 22½- 22½ 20 - 27 23 - 26 88½- 42¼ 80½- 41 89½- 44½ 1:8½- 48 25 - 84½ 84 - <O 84 - 45¼ 24½- 80 43 - 47 42¾- 50 SO - 48 Prel . . ... · · · .. .... .... · ... . Si½- 42 88 - 88½ 83 - 87 83 - 87½ 88¾- 89 S4 - 00 77 - 85 72 - 82 88 - 06~ 70 - 8:J 78 - 05 85 - 88 1st pref .... . •·· ..... •·•· •· 84¼- 00 - ... .. ... - . . . . 20 - 20 24½- 24½ 15 - so •••• - . . . . . . . - . . . . St. Paul & Duluth....... 29'7Ai- 32¾ ... - . . . . 25 - 23 ..•. - . . . . 22 - 22 -;9 - 79¾ 72 - 79 72 - 72 75 - s;; 65 - 70 05 - 65 80 - 86 . ... - . . . . 80 - 80 89¾- 90 Pref.... ... .. . . .. . . .. . . . . . . 00 - 00 89¼- 90 77½- 80 ~ - 86 85¼- 07½ 76¼- 92 88 - 97½ 94 - 99 78¼- 02 90 - o~ 02¾- 9i½ 00~- 07½ 79:,£- 08 St. Paul ll'linn. & Man .. x84 - 99 South Carolina. RR ..... .... - .. .... . . _ ........ - ... .. ... - .. . . 10 - 11 .... - . . ..... . - ........ - .. ... .. . - ........ - ....... . - .. . 9 - 9 Texas & New Orleans .. .. .. - .. . !JS _ 03 .... - ...... .. - .... 02½- {12½ ...• _ .. .. .•.. - ... .. ... - ...... - .....•.. - .. . 90½- 01}!: .... - . . . . Texas & Pacific.•••.• •.••• 15 - 20% 19¾- 22¾ 18½- 21¾ 14 - 10¼ O½- 10½ 5½- 15;1. 7 - 12¼ 10%- 15¾ 10¾- 18¾ 9 - 12¾ 6%- 18¾ 12 - 14¾ Tex. & !-It. L. in Texn.s . 2 - 2 .... _ .... .... - . .. . . •.. - .... ... - ........ _ . . . .... - •.. . .... - ....•.. - ........ - ........ - . .... ... - ... . 28¼- 48¼ 41¾-::_57¼ <5¾- G4½ 50 - 58½ 47 - 54¾ 44¾- 52 Union Pacific.• ••·• ••·• ••• 69½- 78¼ 76%- 84¾ ~ - 82¾ 62½- 74¾ 85¼- 64¼ 28 - 47 United Cos. of N. J ..... . . 102½-192½ .... - .... 19S -198½ 192½-1112½ . . - ... 185½-185½ .... - ... . .... - . ... 192½-192½ .... - ........ - .• ...... - ... . 15 - 15 .... - . . . . 15 - 17¾ .... - ... . 15 - 15 21 - 21 . . . - . . . . . .. - •....... - . . . . 15 - 15 20 - 20 Viririnin. lUidlnnd... ..... 21 - 21 4¼- 5½ 4½- O½ 4 - O¼ 4¾- 5 5¾- 7 5¼- 9¾ 4 - O¼ 5 - 7 Wah. St. Louis & Pac.. 12½- lP¾ 15 - 1~ 14%- 16¾ ~- 15 11¼- 18½ 12½- 18¼ 10¾- 13 12 - 14 11,kr 16% H½- 17 9 - 17¼ O - 14 14¾- 25 Pref . · · ·· · ·· ·· ......... · · 24}(- 82 25¾- SO½ 24¼- 28 ...... - . . . . ... - . ....... - ... . Warren . . . . . . . .. . . . . . . . . . . . . . - .... . ... - .... 122 -122½ . . - . . 121 - 121 .... - . . . . . . . . - ....... - . . . . ... -  TELEGRAPH. 52¾- 55h; 52¾- 50 49¾- CS½ 58)4- ti9¼ r o - 56¾ 58¼- 56 49 - G5 40 - 58 55¼- 59 57 - 60 American Tel, & Cn.ble. 67'7,1i- 61~ 579:(- 60 -i - 4½ 1 - 1 5 - 5 15 - 80 25 - £5 Bankers' & Merchants' 119%-123¾ 12S½-126:}-.{ xl24¾ 26½ •ll':'¾-27¾ 45 -119Y. so - 44 ·j ·~ · ·.· · ·· · : .. · ·~; · ·· · . ... - .... 75 - 70 .... - ···· ···· Gold& Stock ......... .... . 75 - 75 . . .• - .. .. ;,-.i , 13 1274 1 3 Mutual Union . .. . ........ . 14¼· 17¾ 15 - 15½ 16 - 16 ...• - . ... lO - 11½ . ... - .... 11 61¼- 60¾ r61¾- 07¾ 58¾- 65}.j 56!,/i·· Olx, x53½- 64 eO%- 71¼ 49 - 68¼ x50~- 6H¼ 58¼- 62 Western Union ....... .. . . • 71¼- 76½ 73¾- 78¾ x70¼- 76 EXPRESS. Ada.ms .••··• ··•• •·····•·····• 1.28 -180¼ 128 - 132 120 -181 180 -187 128 -185 127¾-180½ 126 -130 180 -135 180 -184 180½-13:i 180½-134 125 -184 92 - 04k 02½- 95 x88 - 06 02 - 95 02 - 05 87 - 05½ ~ - 95 06½- 09½ 88 ~ !JO 06½-102 95 -101 American .. •··•·····•··•···· 91 - 97 51 - 55 54 - 5:i G2 - G5 CS - 54 52 - 55 49¼ · 55 47 - 5-l 58 - 61½ 587,-jj- 60¼ 59¾- 61½ 45 - GO United States ........... · ·· 50 - 60 Wells, Fn.r1ro & Co ..... •. xt05-x10½ 105 -ll.5 110 -115 110¾-115 1/8 -118½ oo .,.110 100 -104¼ 104 -100 104 -109 106 -110 107 -110 108 -109¾ COAL & ltIINING. - . .. . .... - . ....... - ... .. . . . - ........ - •··· •··· - •··· ···· - · ·· · 3 _ 5 ... . - ....... - ... . ...• - ... . Cameron Coal & Iron .. .... - .. . ¼- ¾ . . . . _ . . . . . . . . _ . . . . . . . _ . . . . . . . . _ . . . . . . . . _ . . . . . . . . _ . . . . . . . . _ . . . . . . . . _ . . . . . . . . _ . . . . . . . . _ . . . . . . . - .... Central Arizona Minin&8 - 10¼ 7 - 12½ 8)/4- 12¾ O¼- 12½ 9¼- 10¾ · '7¼- 9½ 7 - 9 Colorado Coal & Iron... 10¼- 16¾ 11½- 17 12 - 17½ 12½- 17l-il 9 _ 13 . . . _ . . . . 18 - 18 . . . . - . . . 13 - 18 . . . . - . . . . . . . . - . . . . . . . . - . . . . 18 - 20 22 - 22 21¾- 21~ 28 - 23 Consolidn.tiott Coal...... 28 - 23 9 - 10 O½- 10 9¼- 9½ 9¼- 9¼ 10 - 10 9½- 9½ 9 - 9 8 - 8½ 8½· 8½ o _ 9 o - 9 Homestake Mining ...... 10 - 11 10 - 10 . . . . - . . . . 7 - 7 . . . . - ... . O - 9 10 - 10 12 - 15 . . . . - . . . . o - 10 14 - 15 15 - 15 .llln.ryland Coal..• .• •••·... 12 - 12 o - 9½ 7½- . 7½ 7½- 7½ .... - ...... - . . . . 8 - 8 . . . . - . .. . ... - . . . . 5 - 5,li .... - ... . New Ventral Coal........ O¾· 10¾ 10 - 10 19 - 10¾ 18½- 18¾ 21 - 2~ Ontario Silver Minin&-.. 2\J¼- 29½ 27½- 27¼ 28¼- 20 .... - ... . 14 _ 20 ... . _ . . . . 18½- 1~½ . . - .... 20 - 20 - ·· · · · ·· - · · · · ·· · - ·· · · · ·· - · · ·· - . • . . . . . . - . . . . . . . . - .. .. •• •. - • • • • - .... .. ... - .... .. Pcnnsvlvania Coal. ...... . . . . - .... 264 -264 . . . . . . . - . . . 4½- 5¾ I».(- 6¾ . . . . 4½- 5½ . . . . ... Quicksilver Mining.... .. 4½- 5½ 5½- 6½ .... - .. . ..... _ ....... . _ . . . . 3¾· 4 83 - 83 .. - . . .. SO - 84 29 - 29½ 29 - 29 25 - 26 20 - 23 28 - 82½ .... - .. .. .... - .. .. 24 - 26 Prel. ···· ··· ·· ··· ·· · · •·· • 25.J.s- 80 • •· · • •· • - • •·· · · · · ·· · · · · · · · · - · · · · •·· • . .. . .... . . . . ....... .... 49¾ 49¾51 41 40¼- 49¾ Spring Mountain Coal . 29½- S5 82¼- 48 . . . . - .. .. .. 1¼- 1¼ . . - . . •. . . . . . . . • •. Stnnda1·d Consol. Itlin'a- f>½- 7¾ 6¾- 6;.{ 6 - 6½ . . . _ ..•.••.. _ • ••• . . . . _ . . . . . . . . VARIOUS. 40 - 40 . . ...... _ . ....... _ ....... . _ . . . . . . _ . . . . . . . - .... .. .. - ........ - . .. 39½- 40 Cn.nron <Jo .. ........... ..... . ... - ..... ... _ . . . . . . . 88½- 01½ 67 - 91¾ 82:};1- 00 84¼ -97 OO}!i-101¾ 06¾-101 Del. & Hudson Canal. .. 105 -108 lOi½-1 14 107 - 110 10~-107½ 88½-l.05¾ 69 - 99 . . . . ... - • •. • • • • • - • • • • • · · · - · · · · ... . .... ... . ... - ........ - ... . ... - . . . . . .. - . . . . 15 - 15 . ... - ........ Jrou Stean1bont Co.. _ .. . . .... - . ... 1m -150 .... - ........ - ........ - . ..... .. - . .. . . ... _ .... . ... _ . . .. . N. V. & Texas Land . . ... 122½-150¼ 160 -170 . ... _ . 16~- 19½ l6>11- 22½ 10 - 21 15¼- 20 20 - 20 12 - 22½ 8¾- ;5:;.i 1 9 - 20 20 - 40 40¾ 45 Orei;:ou hnprovem't Co . 88 - 65¼ 41 - 52 60½- 74 68 - 75 68 - 73 81 - 87¾ 65 - 83 70 - Sf\¾ 71 - 81% f\O¾- ,4}./ 68½- rn 't57 - 90½ 88 - 91 OreKon ll-'Y & Nav. Co. .. 78½·112 1 51 - 56-¾ 48¼- 5txi 52¾'.- 5~ 52¾ 4':l 52¾ 46¾45½- 51% 50 - 56¾ x43¼- 5:{¾ 81 - 46¼ S5%- 4:3¼( 39½- 4'3¼ Pacific i.l lail S.S . ......... 40¾- 47  =  2 =io·,~-~ 3,~= i4·  =  1:i~ =~~: :  I  :::::.•~•~u::!~~~.~::~h:~~.~=  1  Untied :States Trn11t Co • Ex•prlvlleec.t.   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  ~:..  ~~~3~ ~~1~~  =1~~  ~~.~  =l~~ .. ~:~ =-•~.:~.~-. J·.~.-.~.  =ll~~ xllO . . . _ . •. . . .  .. . - . . . . . .. _ ........ - . ... 505 -505  ~~~-½=1~~~ ~~~- =11~¼x10~112~ ~~~.  =1~~ .. ~.1.~7¾-~~ - ..•..... - .. . . . •• . ... -,---  - . • • • •...  =1~~. • •• · · · · - · · ·  RAJLROAD AND MISCELLANEOUS STOOKS.  JANUARY F'ERR'RY.  STOCKS.  ----  MARCH.  ---- - - - - - -  APRIL.  MAY.  JUN:l!l.  JULY. ----  AUGUST. SEPT'DER. OCTOBER.  Nov'BER. DEO'BER  Low.High Low.High Low.High LQW.Hl11h Low.High Low.High Low.High Low.Iligh Low.High Low.High Low.High Low.Righ  ---- ---. -. . -  RAILROAD. A lbany &Susquehanna. 128 -129 124 -124 128 -180 182 -132¼ 132 -188½ 138 -ma 130 -130 . . .. - .... .... - ... lS0~-130½ 137 -140 128 -128 73 - 754;( 67%- 70 x69¼x72 ... 71¼- 77¼ 87¾- 89 84%- 86 tchhwn 'l'op. & S. Fe .. 74 - 78 66¾- 71¼ 66¾-- 677,11 66¾- 66¾ .... A .... .... - .... .... - .... .... .... .... . ... .... - ... ~-10% Q¼-11,½ 8 - 10 A tlo.ntic & Pacific ....... .... - ... .... - .... .... 94 - 96~ 96¼- 97 94 - 96½ 96 - 96 89¼- 90½ 93 - 93 95 - 97 94¾- 96 B o!ilt.& ,. Y. Ah--L., prt 90 - 90¼ 90¼- 90¾ 88 - 90¼ 88¾- 90 .... 57 - tl6 .... - ··· - 62 - 62 .... .... .... 63 - 68 63 - 70 60 - 60 60 - 80 70 - 87 78 - 82 B ur. C. Rap. & North ... 37 - 44% 37¼- 40 36¼- 40 86¾- 377.11! 36 - 40 45 - 50½ 49%- 57½ 55 - 63 89 - 41¾ 40¼- 46 43 - -!6}i 45 - 46 C umulian Pacific. 29¾- 35 so - 32½ 29 - so 23 - so 2d - 82 so - 86 35 - ~o SI> - 88¾ 37 - 47¾ 41¾- 4·7!,t; Sb - 44 C n.no.cla Southern ....... 29¾- 32 ... . 10 - 11 fl¾- 10 9¾- 10½ 9¾- 10¾ 10½- 11 9 - 12¾ 12¼- 14¼ .... . 14%- 17% 14¼- 16½ 13 - 16 C e1lar Falls & Minn ..... .... 10 - 14¾ 12 - 23¾ 19¼- 24 . ... .... . ... 10 - 12 10 - 10 9 - 11 C enu·al Iowa .............. ... - .... 7 - 11¼ 11%- 13¼ .... - . ... .... 31)¾- 49¾ 40>ii- 47¾ 42 - 4 43¾- 52 Sli¾- 50 C entral of New Jersey Sl¾- 40¾ 32¼- SQ¾ Sl - 41¾ 81¾- 38¾ SH~- 37¾ 31'>¾- 41½ 36;!,!- 49 29¼- 85)4 80¾- 33 80 - 34¾ 32½- 40¾ 35¾- 39½ 36¼- 43¼ 42½- 49 ~9¼- 31¾ 20¼- 32 39%- 44 C entl"al Pacific ............ 26½- 85¼ 27¾- 36 .... .... - .... .... ... . .... .... .... .... 29 - 29 .... .... so - 85 85 - 36 S5 - Sf\ C bn1•J. Col. & A 1urnsta. .... - ... .... - .... . 6 7 5%- 8 7!1:t 6¾- 9¾ 9 - 12½ 11!,(- 13 C hesn.peake & Ohio ... . 5½- 6¼ 6 - 6 34 5¾- 6¾ s - 5½ 4¼- 4½ 3'4- 4¼ 4 9½- 11 10¾- 12}4 O½- 11¼ 7 - 9½ 7¼- 8¾ 7¾- 8~ 7'7,i-11¼ 10½- 14¾ 13 - 14 1st pref ........ ........... 11¾- lfl¼ 16 - 23¾ 18¾- 2L 7 - 7 5½- 7 4¾- 6½ 4½- 5¼ 4½- 4½ 4½- 7 d¾- 9¼ 8 8½ 8 - 11¾ 10¾- 15¼ 12¼- 1 2 ll pref .................... 5¼- 8 C hicago & Alton .......... 125 -131½ 131 -133¼ 182!,t;-135 13:l -138 137 -138½ 136¾-139½ 136 -138½ 182 -138¼ 131 -133½ lSl¼ 139 137 -140 138 -140 ... . 152 -152 . ... - .... 149 -149 .... - .... .... . .. .... - . ... 154 -155 .... .. P1·ef........ ................ 147 -147 151 -151 152 -152 .... C hie. Burl. & Quincy ... 115!,t;-119¾ 118¼-122¼ 120!',(-125½ lW½-124.½ 120 -124¾ 1.20¾-127½ 125½-131½ 128 -134 1211!,t;-lSO 128%-133¼ 133 -138¼ 132¾-138 89¾- 96 64:14- 72>'!i 70 - 83¾ 76¾-- 82½1 7-!%- 80¼ 7571i· 89¾ 89¾- 99 C hie. Mil. & St. Paul .... 70% 76¼ 71¾- 75-~ 68¾- 75% x68¾x7S½ 66¾- 71 Pref. ....................... 102 -107 103 -107½ 105¼-108 xl03½-1U8 102¾-106 103½-108¾ 108 -113 110½-115 x107¾-14¼ 107 -114¼ 114¼-119¾ 115 -125 C hie. & Nu1•thwest . ...... 84.¾· 01% 81)¾- IJ7¾ 92¾- 96¼ 94 - 98¾ PO%- 95¾ xS»!,t;-94½ 91¾-101¼ 97½-103¾ 9i¾- 99½ 98½-llH{ 110¼-115¾ xl05¼-14 Pl'ef . ........... ............ 119¾-12 :½ 126 -134 xl27¾S2½ 129¼'.-133¾ 125¼-1301-2 xl~S¼-129 127 -182½ 129½-lSll¾ xl24!1,.(-181 128!,t;-185¼ 135 -1877/4 x1S2!,t;-36 C hie. R. J. & Pacific ..... 105 -109 J0~¾-114 112!{;-116¾ 112 -115½ 111½-115 113¼-118 115 -119 117:%-121¾ 117½-120 118¼-125 123¾-132 127¼-12Y (; hie. St. l,ouis & Pitts . 7¼- 8\1,4 7¼- 8½ 6.l,,- 9 15¾- 18½ 12 - 15• 8 d¼- 10½ 10 - 12¼ 11 - 11% 11¾- 18 8½ .... 7 - 7 17 - 19 15 - 15 Pref ......................... 15 - 17¾ 15½- 19 15¼- 18 23 - 25½ 22 - 25),g 25¾- 41½ 36½- 40¼ 32 - 36 14 - 25 14¾- 16 25 - 29 23¾- 26½ 18½- 25¼ 18¾- 21 18:J,(- 22 21½- 28 26 - 38¼ 29½- 84¼ ss - 39¼ 38 - 44¼ 84¾- 41 C hie. St. Paul M. & O ... 24~- 27 Pret . : ...... . .............. 82¾- 87½ 86 - 91!,:( 84 - 88¼ 73¾- 86 69 - 74 87¼- 94 93¼ ·100½ 100¼-105½ 100 -1 66 - 74¼ 71 - 86¼ 81½- 96 22 - 22~ . ... - . ... .... 20 - 20 .... . .. . .... .. . ... .... .... 28¼- es 33 - 36½ S5 - s~ C in. Sanclnl"kY & Cleve. S:!¼- 38 SS¼- 35 60 - 65¼ 50 - 61 23 - 33¾ 24½- 33¼ 28 -8~ 30¾- 38½ 37¾- 42 38 - 47½ 47½- 69 C I eve. Col. Cin. & Ind ... 31 - ss . ... 140 -141 141 -142¼ 142½-146 141 -141 139.½;-138½ C leve. & Pitts., a-uar .... 184 -137 134½-137½ 138 -139 140 -140¼ 140¼-141 .... 20 - 20 20 - 20 20 - 20 .... - .... .... .... .... ... 28 - 41 38 - 41 38 - 49 43 - 48 51 - 51 C olumbin.&Greenv., pf. 14¼- 20 . .. 1¾- 1¾ 1¼- 1~ .... .... ... . - ... . .... .... .... .... .... .... - .... .... .... .... .... C ol. Chic. & Ind. Cen . . .. .... .... . ... .... .... ... .... - . ... .... ... .... - . ... 18 - ~o 19 - 20¾ ]9 - 26 25 - 43 29 - 34 C ol. Hock. Vo.I. & Toi.. .... - .... . ... .... .... .... ··•· .... .. .. . ... 50 - 50 .... .... .... - . ... .... - .... .... ... . ... - ... D aobury & N01•wn.lk .... 50 - 50 .... D el. Lack. & We!!lte1·n .. 82¾- 91¼ 88¾-104¾ 99¾-109¾ xlOS¼08¼ 99%-10'*-1 xYS¼-104' 90½-103¼ 98 -105¼ 97 -104¼ 102½-121¾ 119¼-124 120 -129 7 9¼ 7¼- 8½ 5¾- 7~ 4½- 7 12¼- 18½ 17¾- 24½ 17~- 2 D enver & Rio Grande .. 8¼- 10 4¾- 5½ 4¼- 8% 8¾- 13½ 10¼- 14 60 - 65 59 - 63 63¼- 65 130 - 62 60 - 65½ 61 - 63 57 - 59 59 - 63 63 - 67 D nbnque & S. City . ...... 55 - 59 58 - 59½ 58 - 63 4 It astTeon. Va. & Ga .... 2~- S½ s S¾- 4¾ s - S¼ S¼- S¾ 2¼- S¾ 27/4- 4¾ 4¼- 6¾ 5%- 6½ 5¼- 7 5¾- 8% 5¾- 7 ........ 4%- 5¼ 5¾- 6% 6¼- 8 5¼- 6 5 5¾ 4½· 5½ 4¾- 7¼ 7¾- 10¼ 9 - 10½ 9¼- 12¼ 10¾- 14% 9¼- 12 Pref ·········· .... ··· - .... ... .... .... .... .... .... .... ... . .... - . ... .... - .... . ... - .... 7 - 16 15¼- 20 20 - 271 E lizn.betht.1 ex. & B. S. E van!!lville & T. Haute 37¼- 40 39¼- 49 47 - 52 45 - 48 46 - 47 x45 - 49 40 - 52 50 - 54½ 52!,t;-x57 56 - 64xi 58¼- 71 66 - 69 Ol'l Wo1•th & Denve1·. .... .... .... - .... .... .... .... ... .... ·· •· 14¼- 14¼ 14 - 14 14%- 23 19 - 2ll,ii 20 - 23¾ 21 - 25 19¼- 23 F 8 s - S½ 3 5 5 S¼ 8 6}( 6h 6 G reen Hay Wm.& :St.P. 8 5¼11¾ 7¾- 10 4% 8¼- 4¾ 3¾- 5 4~- 5¾ 5¾ H n.rle1n .......... ........... 100¼-1Q2 .... - .... 198¾-200 198 -200 198 -198 xUl0-200 190 -195 200 -200 203 -20::J 205 -205 .... - . ... 208 -211 16 - 20 14 - 16¼ 14!'4- 17 15 - 20 25 - 32 Sl , - 37 ss - 89¾ 32 - 37 29 - 32 H ouston & Texns Cent. 20 - so 17 - 26 24 - 2tS II linoiM Central. .......... 119½-123 xl21¾-126 124%-127 124¾-127 124¾-128 124 -126½ 1?6¼-132 x129¼-134 130½-132½ 131!,t;-135¼ 135 -139¼ 135¼ 140 l,eal!led line, 4 p. c .... . l;4 - 86l{i 85 - 88¾ 85 - 8fl:¼ 85¼- 85½ 85 - 89 91¾- 92 92 - 95 91 - 98 b7¼- !37½ 90 - 90 89½- 89½ 90 - 90 In II. Bloom, & \."\'est . . .. 11½- 12¾ 12 - 14½ t2¼- 13½ 10¼- 12¼ 8!,t;- 10¼ 7¼- 9 17%- 28¾ 21¾- 27 11¼- 15¼ 11¾- 14¾ 13¾- 20 8 - 12 . ... ... . 140 -140 ... .... .... - .... 150 -150 . ... .... .... .. . J oliet & Cbico.iro ......... .... - .... .... - .... .... ... .... .... . .... 2½- 6 .... .. . .. . 8 - 10½ 9!,t;- 10 . ... K ,~olrnk & Ues .l'loines. ... .... 6 8 2½- 4¼ 4 - 11 }>ref ........................ ... - . ... .... . ... ... .... .... .... .... .... .... . ... so - so .... .... ... 29½!- 29¼ ... - .... .... - ... 14 - 16¼ -1¼- 1ax; 4¾- 7 1()¾- 21¼ 13½- 19 L n.ke Erie & Western ... 9¾- JS½ 12¼- 17 2¼- 5¾ 1¾- 5 S¼- 10 7¼- 9¼ 9¼- 14 L n.ke Shore ................ 59¾- 63½ 60¾- 67% 59¼- 65½ 587,{- 60¾ 50¾- 59 67!,(- 74¾ 73¼- 83¾ 82¼- E9¼ 81¾- 89 51¾- 58¼ 54¾- 71~ 68%- 75 ]. ong Island ........ . ....... 62 - 6'i¼ 67 - 71¾ 69¼- 73¼ 71 - 73 73 - 77¼ 76¼- 80¼ 78¾- 807 71¾- 77¾ 74¾- 'n¾ 74 - 76 74 - 77 78 - 75 . ... .... .... 22½- 26 .... . ... . ... L ouisin.nn. & Mo. Riv .. .... .... .... .... .... - . ... .... . ... 19½- 21 20½- 25 .... - ... L onisville & Nashville. 22 - 26½ 23¾- SS¼ SO¼- S~½ 30½- 32½ 28¾- 35 31¼- 35¾ 34¾- 41¾ 39½- 49¾ 43 - 46¾ 44 - 48¾ 45 - 51¾ 41%- 48 22 - 26¾ 23 - 26¼ 23 - 25 L ouif"v.New Alb.&Chic. 11¾- 10½ 17!,:(- 27¼ .... 22 - 25 23¼- 34 so - 35 32 - 40 SS¼- 40 32 - 37 M nnhn.ttan Consol. ..... 65 - 70¾ 71 - 77¾ x77 -78¾ 77¼- 90¼ 90 - 97 x95 - 97¾ 95¼- 98 95¼-100¼ x99¼-100% 100 -111¾ 108½-120 117 -1 14½- 15¼ 14½- 15½ 14½- 18½ 14 - 16¾ 13 - 14 lU n.nhattan Ben.ch Co ... 11¾· 14¾ 14 - 15 10)1- 11¼ 10½- 14½ 14 - 18 12¼- 15 14 - 1 35 - 44 29¼- 36 37 - 40 34 - 37½ 32 - es M emphis & Charleston. 27¼- so ss - 37 ss - 39 34 - 38 35 - 37¾ 83 - 40 ss - S8 . ... .... - . ... .... .... .... .... - ... M etropolitnn Elevated. 90 - 93¾ - . .. ·••· 1253,s-125¼ .... - .... .... - .... .... - . ... . ... 55 - 64½ 55 - 63 51 - 59 1'Iichian.n Cenu·n.l ........ 54 - 61 46¼- 52½ 48 - 55 65¼- 77¾ 74 - 79¾ 71¼- 78 51 - 65½ 62 - 68¾ 61¼- 67 . .. . ... .... - .... .. . . .. . . .. . . .. 16 M ilw. Lake Sh.& W • ... .... .... . ... .... ... .... 20 ... 20 23 - 25 - 24 ... .... P1·et ······ ··· ··········· ..... .... 32 - 34;!,! 34 - 34 33 - SB½ 29¼- ss 29 - 29 .... - . ... ss - 31)¾ 37 - 39 40 - 48¾ 50 - 54¼ 50 - 54 innen.polis & St. L .... 10¼· 12½ 11¼- 13 11½- 12¾ 11 - 12¾ 11 - 11¼ 11!}.!- 13 14%- 20;1,4 16%- 19¼ 17¾- 23¼ 21¾- 26 20 - 28 13 - 16 Pref ........................ 25 - 28 27¾- 29~ 25¼- 28 25 - 27½ 24¾- 26 26¼· 29¼ 28¾- SS SO¼- 43¼ 37 - 41¼ 38¼- 48¾ 45¾- 56¾ 45 - 51 h1souri Ii.an. & Texas 14~- 17¼ 14'.%- 18% 17¼- 18¾ 17¾- 19 17%- 19¼ 16¼- 18¼ 17¼- 22¾ 21 - 26 22¾- 26 24¼- 28¼ 27¼- 37¼ 29¼- S5 issouri Pacific .......... 90¾- 95 90¼ · 97¼ x8Y¼- 91¾ 90¼- 95¾ 94 - il6 x94¼- 00¾ 91 - 98¾ !JO¾- 95½ 91 - 95 93 -104¾ 101 -106 104 -111 .... 7¼- 8 8 - 9¾ 9 9 8 8 7¼- 7½ 6 - 7 8 - 9¼ 9 - 13¼ 11¾- 13¾ 12 - 16 14 - 18)4 14 - 16 lobile & Ohio .... or1is & E"'sex . .......... 114,.{-121 118 -122 118 -122 119½-124¾ 122¾-124¾ 122 -125 120½-126 123 -127 124¾-127¾ 127}i-li19¾ 129¼-lSS½ 128 -133 n.11hv. Chatt. & St. L ... ss - 37 S5 - 42¼, 40 - 4i ¼ 38 - 40 35 - 39¼ 85 - 40 42 - 47¾ 43 - 45½ 42 - 48 45 - 50 39 - 44 44 - 49 . Y. Cent. & Hud. Riv. 84¼· 89¾ 67¾-95¾ 87 - 94¼ 88½- 91 82½- 89¾ 81¾- 88¾ x83¼-x99 96¼-101¾ 95½-100)4 x98-x104½ 101 -107¼ 101}<(-1067 . Y. Chicnaio &St. L ... 4¼- 5¼ 4½- 5 1¾- 4½ 2 - 2½ 1¼- 2¼ l¾- 2¾ 2¼- 3% S¾- 7¼ 5¾- 6½ 6 - 10% 8 - 11% 8¼- 1 9 Prel .... .. . .............. . . 7½- 9 8 4 - 5½ 4¼- 4¼ 9¾ 4 4 - 5 18}4- 2 4¾- 7¼ 6¾- 12¾ 11 - 12¼ 11¼- 21¼ 16½- 26 l'W Yo1·k Elevated ..... 122 -130 .... - .... .... .... 135 -140 140 -145 .... . .. .... - .... . ... - . ... .... .... .... .... . ... - . ... ··•· . .. • Y.J.ack &West ... . . 84¼- 88 86 - 68 87¼- 88¾ 88 - 89½ S8 - 90 88¾- 90¼ 89ni- 92¼ 92¾- 94 92¾- 94 92¾- 97¼ 96¼-100½ 98 -100 . V. Lake E1·ie ,~West. 12¼- 14¾ 11¼- 14~ H - U 11¾- JS 9:}s- 10½ 9¾- 12 9%- 15¼ 15¼- 18¼ 14:)s- 17¾ 16 - 23¼ 21¾- 27¾ 22½- 267 P1•ef...... . .......... 23 - so 20 - 80 24 - 29 21 - 23½ 19 - 23 18 - 22 22 - Sl Sl - 39 34 - sax; 37 - 46 44 - 57 46¾- 54 20 - 25½ 19 - 23¼ 20¾- 31 N . Y. & New 'Eu~,<tnd .... 12 - 14% 14¾- 17¼ 15¼- 17 16½- 22¼' 18¾- 21½ 17¾- ~o 19¼- 21 27½-38¾ 33)~- S N • Y. N. Haven & Hn.1·tf. 175 -180 179 -180½ 180 -182¼ 186 -189 186¼-190 183 -183 184 -186½ 186 -186 192 -193 192¼-200¼ 200 -202¼ 200 -204 N • Y. Ontario & West ... 10½- :i2¼ 10¾- 12¾ 8¼- 11% 6¾- 9¾ 6¾- 8 6¾- 8 6%- 11¼ 10¼- 17 12½- 14½ 13 - 16¾ 16 - 20¼ 17¾- 20 2 N'. Y. Susq. & West .... . 2¼- s 1¼- 2¼ 1¼- s 2½ 1%- 2½ 1¾- 2¼ 2¼- S½ s - 6 4¾- 6½ 5¾- 7% 6¾- 9¼ 6¾- 9 Pref ........................ 4½- 4% 5 8 5¼- 6¼ 5¼- 6 7 - 12¾ 10¼- 15 6¼- 7 5½- 5½ 6%- 8 13¼- 19¾ 17¾- 23¾ 20¼... . ... .... - . ... . ... .... .... .... . .. - .... .. . - .... 8 8¼ 8 - 13% 10¼- 13 10 - 11 Norfolk & Weste1·n .... .... - . ... ..... Pt•ef .... . . .. .. ............. 21 - 23 22 - 25¾ 22 - 24¼ 19 - 21¾ 17 - 18% 15½- 17 21 - 25¼ 22 - 24 14 - 22 23 - 34¼ SO¼- 83¾ 26½- SI Northern Pacific .......... 16 - 17¼ 15%- 19¼ 16¾- 19 1!%- 18¾ 16 - 17½ 15¾- 17 16¼- 22M 20)4- 24¾ 19¾- 22¼ 21¼- 26¼ 25 - 31¼ 26¾- 307 Pref ............ ........... 36½- 40¼ 373-(- 43¾ Sil¼- 44 38¾- 40% 37¼- 40 37 - 40¾ 38¼- 48% 46¼- 51'¼ 45 - 48¾ ~,- 55),( 54¾- 65¾ 57 - 65 0 hio Centro.I. .......... ... 1¼- 1¾ 1¼- 1% ¾- 1~ ¼- ¾ ¼- % ¼- 1% ¼- % %- 1¾ ¾- 1% ¾- 2¾ l¾-- 2 ¼- l}1 15¾- 18!1:( 14½- 18¾ 11%- 14¾ 10¼- 13 0 hio & lllisslsslppi. ...... 16 - 19 13 - 16¼ 15 - 19¾ 18 - 23¾ 20 - 22¾ 21¾- 25 22¾- 28¼ 21¾- 25 P1·et ........ . .. . .......... .. .... .... ... . - .... .... .... ... - ... . .... ... . 71 - 72 .... - . ... . ... - . .. . 78 - 78 .... .... .... - . .. 10 - 12 9½- 11 9~- 11 0 hio Southern ............ 9 - 10 8 9¾ 7¼- 8½ 8 - 10¼ 9 - 11 9¼- 12¾ 11¾- 17 15 - 21¼ 15 .• 19 15 - 16 14%- ld 16 - 21 18¾- 20 17 - 18 .... - .... 18½- 19½ 18 - 19 0 reiron Sho1·t Line ....... 15¾- 16 19¼- 27¼ 25¾- 28 24¾- 26 10¾- 15 0 1·eaon & Trn.nscontin'I 11¼- 14¾ 12¼- 14¾ 12 - 14 12¼- 18¾ 18½- 22¾ 18!4- 21½ 20½- 29¾ 28¼- 36% 80%- S6 18¼- U¾ 13¼- 14 p eoria Dec. & Evan!!lv .. 12¼- 14 12¾- 15!,t 13%- 14¼ 8%- 13½ 8¼- 10 7¾- 9½ 8¼- 14 12½- 15 13¼- 15% 15¾- 2031; 1771- 24 17¾- 22 p hila. & ReadhtK'-··· 15¾- 19 15¼- 18¼ IS¼'.- 18½ 13¾- 16¼ 13 - 17 13 - 15½ 13¾- 21 16 - 24¼ 16%- 21¾ 13¼- 26 20¼- 25¾ 18¼- 24 p itt11. Ft. W.&C., a-uar. 123¼-125¾ 119¾-124 123 -128 125½-129 129:%-134 133¼-135¾ 132!,t;-lSS 135¼-137½ 136¾-140 136!,t;-140 138%-141¾ x140¾-142 Special .................... ... . .... - . ... 120 -122 [21 -1~9½ 122 -122 120 -120 .... - . .... .... .... - . 120 -123 180 -130 129½-lSO R eu ... & i,,nl'n.toan. . ....... ISO!,t;-140 137 -138 140 -142¼ 140 -143 143 -143¾ . 140¼-140¾ 140 -140¾ 142 -14.2¼ 142 -145 150 -157½ 158 -160 R ichm. & Allt•i;rheny . ... I 2 - 2¼ l}.j'- 2¼ 1¾- 2½ ••.• 1 l¾ 1 1¼ 1 1¼- 4 2¼ 1 ·•• · 2~- 5¾ 4¾- ll!,t; 5 R ichmond & Dn.nville .. ! 44¾- 48 46½- 53 49 -M 48 - 49½ 41%- 49 48 - 51½ 50 - 64 65 - 75 70 - 76¼ 71¼- 76 73¼- 87 78 - 82 19 - 24 l tichmo ,,d & Wel!lt Pt ... 19 - 21 22l,:!- 26¼ 21¾· 23½ 18lJs· 22 18¼- 20~ 20 - 28 27½-- 32½ 28¾- 32½ so - SS!I( SL - '3~ 32 - 42 l tochc1o1ter & Pitt!!lburir. 2ll,<· S¼ 2¼- S¼ 2%- 4 2¾- S¼ 2¾- S¼ 2¾- s 2%- 8¾ S¾- 6¼ 2¾- 4¾ 8¾- 5¾ 4¼- 5¾ 4'(R ome Wat. & Oiidensb. 17 - 17 17 - 19 18 - 18 . 17 - 17 16 - 16 16 - l8 18¼- 18¾ 18 - 28 215 - 26¼ '111 - 27  .... -  -  .... -  ... -  -  ... - .... .... .... -  -  -  -  -  -  - ...  -  -  -  -  -  -  .... - .... -  -  -  -  - .... ... -. -  -  -  -  -  -  -  -  -  -  -  -. -  - ..... - ... -  .... -  -  -  -  -  .... -  -  -  -  .... -- ....  -  -  .... .... -  -  .. -  ....  -.  .  -  ....  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  .... ...  -  -  -  -  --  .  -   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  .... -  -  -  -  .  -  -  -. -  - .... .... -  .... ....  -  -  -  -  -  -  - ... -  ---  .... - ...  -  -  ..  .... - ...  -  -  ...  - ...  ...  ~  Ha  -  RAILROAJJ ANJJ Ml80ELLA.NEOUS STOOKS. 188:i-C:oncloded. JANUARY FEBR'RY.  MARCH.  ---- ---- ----  STOCKS.  APRIL,  MAY.  JUNE.  JULY.  AUGUST. 8EPT'BER. OCTOBER. Nov'BER. DEC'BER.  Low.Hlirh Low. High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.Hiirh Low .High Low.High  15 - 16½ 17¼- 19½ 111 - 24)4 23 - 80 22 - 28½ 16½- 20 St. Louis Alton & T.H. 20¼- 21)4 21¼- 25 88 - 51 42 - 47)4 37 - 4l 28 - 85 Pref . . ..... . ... . ... . . . ... . . - ... .... - ... .... - ... . . ... - .... ... - .... .... - .... ... . - . ... 75 - 78 80 - 82 81 - 91 85 - 85 86 - 86 t. Louis&S. F1·anclsco, 18¼- 201,( 18 - 21 18)4- 22 18½- 21 19¼- 20¾ 19¼- 19;!.( 17½- 20¼ 18 - 11.J¾ 17½- 20 17¾- 19 20~- 24½ 21 - 23½ Pref ........ . ......... . .... 85¼-- 89¾ 35¼· 88¼ 82¼- 87:}.( 80 - 83¼ so - 84¼ Sl¼- 88~ 80 - 34 82)4- 85¾ 81 - 85 88½- 41¼ 40¾- 49¼ 44J4- 47½ 81 - 87¼ 80½- 84½ 80)4- 84½ 79)4- 81 79 - 84¾ 81½- 84¼ 80 - 86)4 81 - 85 1st pref ..... .. ......... 82 - 84 82¾- 91¼ 90)4- 99¼ 96 - 99 .... 21 - 24 . St. Paul & Duluth ....... .... -·· · . .. .... .... - .... 24 - 24 18 - 24 20 - 25)4 23 - 25 22ni- 29¾ 2~- 89¼ 85)4- SOM ... 77½- 77¾ 80 - 80½ 82 - 82 83 - 83 80 - 80 Pref.......... .... ......... .... 84¼- 87 77¾- 85 80 - 84½ 81¼- 90 89~ - 98¾ 97 -101 84½- 00 St. Paul Miun.&Man .. 79¾- 87 97-x107¾ 108 -108¼ 97 -104 100¾-107)4 104¾-110¼ 1~111 87%- 00¾ 84 - OO?i 83 - 86½ 83}(-101 .... .... ... ·•• · .... Scioto Valley .............. .... . .. .... . . ... .... .... . ... . ... . ... .... - .... 8 - 9¾ . ... . .... .... .... South Carolina .... ....... .... . .... - .... 7 7¼ 8 - 9 10¼- 12 12¼- 12½ .... . ... 1-l¾- 18½ 14 - 177"' .... ... .... ... .... .... . ... .... .... . ... . ... .... - .... Texas & New Orleans .. 80 - 89¼ .... . .... - .... 49 - 49 .... .... Texas & Pacific ........... ll!ij- 18:)jl 12 - 18% 10ll4,- 18% 9¼;- 11 9%- 11!1:( 10¾- 12 16¾- 19,¼i 177,i- 22!),( 20¼- 25¼ 10 - 23½ 11¼- 14% 14½,- 18 .... ... - .. .... .... .... .... .... . ... - . ... .... Tex. & St. I,. in M,& A, .. s - 8 . ... - .... .... . ... - . ... . Union Pacific ......... ..... 45%- 50½ 4~- 51¾ 41 - 48¼ 41½- 4~ 47¾- 55¾ 49%- M¾ 45 - 55¼ 46½- 52¾ 47¼- 51½ -1a:u- 55¾ 55 - 62¾ 52 - 58¾ .... .... - . . ... - .... .. United Cos. of N. J ....... .... ••. 100 -1116 .... . ... .... .... 196½-197 . ... - .... ... . - ... .... - . .. . .... . .. . 16 - 16 . .. .... .... . ... 15 - 15 16 - 22 19 - 19¼ 18 - 22 22 - 28 25 - 29 18 - 18 ... Vlrdnta Midland ........ 15 - 15 5 4 - ~ 2 4 2¼- 8)4 s Wab. St. Louts & Pac .. 4.¼- 5¼ 4 4¾ 4 5¾ 5 - 9¼ 6¾- 8½ 7 - 10½ 9¾- 15¼ 9½- 18 14 12~11 - 18 11 - 12)4 7 - 11¼ 6¾- 7 7 17 - 22¾ 8 P-ref . . ············ 7 - 11 9:¼- 17¼ 12½- 15¼ 18 - 18¾ l'i½- 25 Warren .................... 116 -116 .. .. - .. 118 -118 118 -118 .... .... .... - . . . .... .... .... - .... .... .... .... - . ... TELEGRAPH. . 10 - 11¼ Amrrican ltii;itrict ... .... ... - . ... 17 - 20 19¾- 25 20 - 20 . 20 - 80 22 - 29½ 26½- 28½ 27 - 86½ 68 A mericau Tel. & Cable. Ill - 55 56 - 60 M%- 56 57'(- 62¾ 60 - 68 68 - 57 61½- 65 68 - 70 62¼- 64,s 64½- 71 66¼- 68 4 .... 2¼- 2~ .... Bankers' & Merchants' s 2 2 ... 1 1 .... ¾- l½ 2 6)4 2}4- 4½ l l½ ... ... . .... .... 14¼- 14¼ 15½- 81 .... .... - .... .... .... ... .... .... - ... .... Mutual Union ...........•. .. .. . ... .... - ... . .... 68¼· 58½ 57)4- 68¾ x55¼- 60¼ 56½- 59¾ 57~- 60¾ 59¼- 68% 00½- 68% 67¼- 72~ x67¾- 71¼ 68:)4- 80¾ 75¾- 81¾ x71¼- ~6¾ Western Union . . I EXPRES~. Adams . ...................... JSO -185 xl83-135 182 -184 lSS½-188 185 -187 185 -187 187 -141 189 -142½ 188 -145 140 -144¼ 142 -145 141 -145 917,(- 94~ 95 - 97¼ 93½- "~ 94 - 96 91 - 92 90¼ · 92 95 - 00¼ O'rn-99-~ 98 -101½ 101¼-104 101 -105 A me-ricao ..... ............. . 87¼- 98 53 - 55 United States .............. 48 - :12½ 50½- 52¼ 50 - :IS¼ 52~- 55 51¼- 58¼ 51½- 58 52 - 54 58%- 55 MU- 62¼ 69½- 62½ fl0)4- 62½ Wells, Fara-o & Co ....... lQ4¼-110 107 -110 109 -110 109 -111 \108¾ -llO¼ 11!! -115 1~-111¼ 118½-118 115 -118 115)4-118 117 -120 117 -124 COAL & MINING. .... .... .... .... .... - . . .... - .... 1 5¼- f.¼ .... ... . .... .... 6 - 8¼ 8¼- 19¾ 14¼- 17¼ ........ .... ... .... Cameron Coal. 9½- 11 Colorado Coal & ll·ou ... 8 - 10½ 9 - 18¾ 10¼- 18 10¾- 11 9½- 11¾ 9¾- 12¼ 12¾- 17¾ 15½- 1~ 16¾- 25¼ 21¼- 26¾ 21¾- 25¾ .... .... . 20 - 20 .... . .... .... 19 - 19 19½- 19½ 19)4 -21¼ 21)4- 2 I'.% .. . - .... 19 Coal. .... . ... - 20 Coni;iolidation 16 - 17¼ 17 - 17¾ 18 - 20 20 - 22½ 28 - 23 18¾- 15 Homeittake Minin1i ...... 10 - 10½ .... - ... 10¼- 10¾ 10¾- 1<».( 11¼- 11¼ 14 - 14 Ma-ryln.nd Coal.. ......... . ... ..... . .. . .... 8¾- 9½ 9¼- 10¼ 12 - 16!4 10 - 10 ..... ... 8 8 7½- 7¼ .... .... .... ~- ~ 43,(.... -· ·· 0 5 .... .... 7 - b% 6 - 9~ 10 - 15¾ 11 - 14 6 - 7 .... New Central Coal. ..... .. .... 20 - 25 18 - 18 18 - 20 25 - 25 82 - 82 24 - 24½ 25 29 - 29 25½- 2-3 Ontario Silve-r Mioinl( .. ... - .... 17 - 17 25 - 28 . ... .... .... - .... . ... - . ... .... .... 230 -230 .... - . ... 266 -266 .... . .. . . .... .... .. Pennsvlvaoin. Coal . . ... .. .... .... 8½- 8½ 8¼- ~ 5¾- ~ 6¼- 8½ 7¾- 111}.( fl½- 7¾ .... .... .... 4½- 4¾ 4¼- 4½ 8¾- 4¼ Quicksilver Miuinl( .... . .... .... - .... .... - .... 22¾- 22¾ 28 - 24¾ 22½- 281, 28)4- 80-¼ 24 - 88 28 - 26 .... Pref. ......... ·· ······· ··· · so - so .... - .... .... Standard Consol. Min'11 - .... - ... ... - ... 1½- 1¼ ... - ... 1)4- 1)4 .... ... . .... ... . ... - .... ... - ·· •· .... - .... .... I VARIOU8. ... . 45 . ... . .... . ... 44½. ... 46 40 44 . ... .... . ... 45 53 - 58½ Canton Co ................. . - 40 - 44 92¼- 95 92½- 94¼ 91¼- 97½ 95½- 98 80 - 94¾ 82¼- 92¾ 98 - 99¼ x92¼- 99 88~- 85 98½-104~ 96 -100 Consolidated Gas ........ 75!,,,- 10;., 77'-(- M)4 76 - 82¼ , 75 - 80¼ 74%- 83¾ 80¾- 87½ 79~,- 86¾ 9; - 99¼ 96¾-100¼ 93"'* 99 611¾- 83 Del. & Hmh,oo Cann.I... 66¼- 74 ... .... .... ... .... 22 - 22 .... .... lt·on Steamboat Co ... . • · ... .... - ........ - . . . • 17 - 17117¼- 21 . - . 185 -185 :::: = N. Y, & Texas Land ... . = :::: .. . . - .... , .. .. - .. .. .... - ... . 150 -150 .... - ... . = = 26~- 29½ 21 - 29 2s¾- 20 I 23 - 28¾ 24 - 88 27 - SO 28½- 24¼ 22¼- 26 29½- 84¼ 27¼- 40¼ Ore1iou lmprovem't Co 61l'(- 77 78¼- 76½ 69½- 75½ 73¼- 78 I 77)4- 8-.!% 76)4- 81¾ 80 -100¾ 97¾-111¼ 105¼-110½ Ore1ion R'y&Nav.Co ... 59¾- 78 I 61¼- 61% 66 - 71 Pacific lllail s. 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