The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
HUNT’S
MERCHANTS’
^
S K U e fe J g
REPRESENTING THE INDUSTRIAL
MAGAZINE,
fjJ fW iS p a iw ,
AND COMMERCIAL INTERESTS OF
THE UNITED
VOL 46.____________ N E W YO R K , JA N U A R Y 14, 1888.
_____ fpaattjclal,_____
.A M E R IC A N
Bank Note Company;
7 8 TO 8 6 T R I N I T Y
Ip w a ta x ia l.
D
I
A
M
O
N
D
S
A lfr e d
Incorporated under Lairs o f State o f Sen York, U H L
and
P r in t e r s
of
B O N D S , PO S TA G E & REVENUE S T A M P 8 ,
LE G A L TE N D E R A N D N A T IO N A L BAN K
N OTES o f th e U N ITED S T A T E S ; a n d fo r
F ore ig n G o v e rn m e n ts»
ENGRAVING AN D PRINTING,
SAFETY COLORS.
SAFETY P A P E R S .
Work Executed in Fireproof Buildings.
&
S O L I D
G
O
R
H
A
S I L V E R .
M
M
’l ’g
C o .,
Broadway and Nineteenth Street,
Show Cards, Labels, Calendars.
(
fL D. SHEPARD,
l
W . M. 5M ILLIE,
V Vice-Presidents.
TOURO ROBERTSON, J
m e o . He FRIELANPq Sefifr tnd Tfae.
Maverick National Bank
BOSTON,
C A P IT A L ,
SURPLU S,
-
-
$ 4 0 0 ,0 0 0
$ 6 0 0 ,0 0 0
Accounts o f Banks, Bankers and Corporations
solicited.
Our fatalities for COLLECTIONS are excellent
and we re-disoount for hanks when balances war
rant It.
Boston Is a reserve city, and balances with ns from
banks (not located in other reserve cities) count as a
reserve.
We draw our own exchange on London and the
Continent, and make Cable transfers and place
money by telegraph throughout the United btates
and Canada.
Government Bonds bought and sold, and exchanges
In Washington madefor banks without extra charge.
We have a market for prime first-class Investment
Securities, and invite proposals from States, Coun
ties and Cities, when issuing bonds.
We do a general banking business, and invite cor
respondence.
A S A P . P O T T E R , P r e s id e n t.
A O S . W . W O R K , C a s h ie r .
W . P. W ight & C o.,
72 B roadw ay,
ST O C K B R O K E R S .
Stocks, Bonds and Miscellaneous Securities bough
and sold for cash or on margin.
W. P. W ight ,
j . b . Creighton .
Memb. N.Y. Stock Exch.
A. B. Claf lin , Spec
ST O C K B R O K E R .
Lansdale Boardman,
N E W T O R E , 80 B R O A D W A Y A 5 NEW ST.
T R O Y , N . Y . , NO. 1 ? FIRST STREET.
MOek Exch. membership; private wires; all facilities.
Established 1854.
Incorporated 1882
Lombard Investment Co.,
150 B R O A D W A Y , N E W Y O R K .
G u a r a n t e e d S ix P e r C en t m o r t g a g e s
CAPITAL (FULLY PAID) ................ *1,000,000
TOTAL VALUE OF GUA R A N TY.... 2,400,000
Trustees and Investors generally are requested
to call and examine these securities, or send for
pamphlet giving full information.
MASS,
-
DEALERS IN
INVESTMENT and MISCELLANEOUS
SECURITIES.
S. A . Kean
C o.,
&
C H IC A G O .
INVESTMENT
BONDS.
Call or send for Lists.
Chrystie
&
G e o ,
K .
S is ta r e ’s
S o n s ,
1 6 & 18 R r o a d S tre e t, N ew Y o r k .
1 21 S o u t k T k i r d S tr e e t, P h ila d e lp h ia ,
Connected by Private Wire with main office, New
Y ork..
DEALERS IN
FIR ST-CLASS IN V E ST M E N TS.
a y t i c k e t s o f im p r o v e d s t y l e s .
BLANK BOOKS O F EVERY DESCRIPTION
JAMES MACDONOUGH, P re s id e n t
C o .,
No. 10 W A L L S T R E E T ,
NEW YORK.
C o .,
AND 9 M AIDEN LAN F.i
LITHOGRAPHIC AND TYPE PRINTING.
Ra i l w
S m it h
&
Southern Securities a Specialty.
BANE NOTES, SHARE CERTIFICATES, BONDS
FOB GOVERNMENTS AND CORPORATIONS,
DRAFTS, CHECKS, BILLS OF EXCHANGE,
STAMPS, Ac., in the finest and most artistic style
FROM STEEL PLATES,
With SPECIAL SAFEGUARDS to PREVENT COUNTERFEITING,
Special paper» manufactured exclusive!/ for
use o f the Company«
.
L a n c a s te r
.
IM PO R TER S,
182 Broadway, Cor. Join Street.
Reorganized 1879.
E ngravers
H
A .
BANKERS,
NEW YORK.
Business Founded 1795.
NO. 1,177.
‘g i u x u c i z l .
R .
PLACE,
STATES
Janney,
BANKERS,
N o s , 2 3 a n d 2 5 N a s s a u S t ., N e w Y o r k ,
Receive deposits subject to check at sight and
allow interest on balances.
Deal in Railroad bonds, State, County and Muni
cipal Securities.
Give special attention to consignments of Bullion«
and make liberal advances on same when desired.
Bny and sell on Commission, for eash or on margin,
all securities dealt In at the New York otouk Ex
change.
Interest allowed on daily balanoes.
All deposits subject to oheck at sight.
Particular attention to orders by mail or telegram
H .
L .
H o r t o n
&
C o .,
3 4 a n d 5 6 B R O A D W A Y , N ew Y o r k .
BARTHOLOMEW HOUSE,) T n v n n N
BARTHOLOMEW T.ANTK, ( LONDON.
S p ecial A tte n tio n G iv en to A m e r ic a n
S ecu rities.
Solicit Accounts and Orders for the Purchase and
Sale of Bonds, Shares, Ac., Ac., on Commission, in
New York, Boston, Chicago, London or Paris,
Interest allowed on deposits subject to drafts at
sight.
Members of the New York and Boston Stock Ex
changes and of the New York and Chicago Produce
Bixchanges.
Private wires to Chicago, St. Paul, Boston, Hart
ford. Buffalo and Utica.
Ed w a r d L. Oppenheim .
E .
W a l t e r Del m a h _
L . O p p e n h e im
&
C
o .,
[ESTABLISHED 1862],
BANKERS AND BROKERS,
01 A 5 3 N e w S t r e e t a n d 4 2 R r o a d w a y ,
B ranch Office, 01 L eonard Street ,
W ood,
Huestis
&
C o.,
31 PIN E STREET, NEW Y O R K ,
R A N K E R S AND R R O K E R S,
SUCCESSORS TO
W O O D & D A V IS.
Execute orders in all securities listed at the New
York Stock Exchange. For Sale:
F irst - class Ra il r o a d
fir st
Mortgage Bonds ,
GEORGE C, WOOD. C.H,HUESTIS. L.M.SWAN,
NRW Y O R K .
7 5 O ld R r o a d S t r e e t , E . € . , L O N D O N .
F r e d e r ic k
W
.
P e r r y ,
Successor to J. h . LA TH AM & Go.)
UNITED B A N K BUILD ING ,
N o. 2 W A L L S T R E E T , N R W Y O R K .
H ir am De w in g . Cla r k dew in g , F.T.B ontkcou ,
(Member o f N. Y. Stock Exchange,)
H . Dewing
dc
City, County, State, Railroad, District o f Colum
bla Bonds and Foreign Exchange.
Son,
RANKERS ANu RROKERS,
N o. 18 W a ll s tre e t, N e w Y o r k .
Stocks and bonds bought and sold on commission,
BANKERS A N D BROKERS,
Particular attention given to information regard-1
ing Investment Securities,;
Iowa Loan & Tust Co, 8 per cent Debentures 1 7 4 B R O A D W A Y a n d 9 N E W S T R E E T ,
bought and sold.
1
New Y o r k ,
Howard Lapsley & C o .,
THE CHEONICLB.
[V o l
tltft,
JBatihres and grattrjet* xrf ^ g reig ti gstfratigg.
KOUNTZE BR O TH ER S,
Drexel, Morgan & C o., August Belmont & C o.,
B A N K E R S,
BANKERS,
120 B r o a d w a y , E quitable Building, New Y ork.
N o. 36 W A L L S T R E E T .
L E T T E R S OF C R E D IT AND
NEW YORK,
C IR C U L A R N O TES
ISSUE TRAVELERS’ CREDITS, available in all
Issued for the use o f travelers in all parts o f the
parts o f the World, through
Drexel & Co., ' Drexel,Harjes & Co Messrs, N. M . Rothschild A Sons, London. world. Bills drawn on the Union Bank of London.
Telegraphic transfers made to London and to various
“
do Rothschild Bros., Paris.
laces in the United States. Deposits received, subCor. o f Sth A Chestnut Sts. 31 Boulevard Haussmann,
••
M . A . do Rothschild A Sons, Frank >
eot to check at sight, and interest allowed on bal
fort o\m .
ances. Government and other bonds and InvestP A R IS .
P H IL A D E L P H IA
S. M . do Rothschild, Esq., Vienna.
gent securities bought and sold on commission.
AND THEIR CORRESPONDENTS.
DOMESTIC! AND FOREIGN BANKERS.
Draw Bills of Exchange on, and make Cable TransDeposits received subject to Draft. Securities f g s to, England, France and Germany.____________ Canadian B a n k o f Com m erce.
sought and sold on commission. Interest allowed on
CAPITAL, $6,000 000.
SURPLUS, $500 000.
Deposits. Foreign Exchange. Commercial Credits.
Cable Transfers. Circular Letters for Travelers,
J.
H.
G0ADBY
&
ALEX.
LAIBD,
available in all parts o f the world.
AGENTS,
ATTORNEYS a n d AGBVT8 OPT
16 E X C H A N G E P L A C E , N E W Y O R K
SUCCESSORS TO
H e s s n , J . S. M O R G A N A GO*.
BUY AND SELL STERLING EXCHANGE, CABLE
JESU P , P A T O N & CO.,
TRANSFERS, ETC.
N«, 22 OLD BROAD STREET, LONDON.
ISSUES COMMERCIAL CREDITS, AVAILABLE
5 2 W i l l i a m S tr e e t, N e w Y o r k .
TN ALL PARTS OF THE WORLD.
Accounts and Agency of Banks, Corporations,
firms and individuals received upon favorable terms.
Dividends and interest collected and remitted.
NEW YORK, PHILADELPHIA, BOSTON, AND
Act as agents for corporations in paying coupons
and dividends; also as transfer agents.
A L E X A H D E t t B R O W N A SONS,
Bonds, stocks and securities bought and sold on
BALTIMORE.
commission, at the Stock Exchange or elsewhere.
Members o f New York, Philadelphia and Baltimore
Sterling Exchange and Cable Transfers bought and
Stock Exchanges.
sold.
Exscute orders for all Investment securities. Re
DRAW ON
ceive accounts o f Banks, Bankers, Corporations and
THE UNION BANK OF LONDON,
BANKERS AND BROKERS,
Firms, on favorable terms. Buy and sell Bills of Ex
change on Great Britain and Ireland, France, BRITISH LINEN CO. BANK, LONDON AND
N o . 1 0 W A L L S T .. N E W Y O R K .
Germany, Belgium, Holland, Switzerland, Nor
SCOTLAND.
Orders for Stocks and Bonds executed at all
way, Denmark, Sweden, Australia, St. Thomas,
Exchanges.
St. Croix and British West Indies. Issue Com
Especial attention given to supplying high-class
mercial and Travelers’ Credits in sterling, availaoxeln any part o f the world, in dka NCS lor
IN V E S T M E N T S E C U R IT IE S .
use in Martinique andGuadaloupe, and in dollars for
use in this country, Canada, Mexico and West Indies.
BANKERS,
Make telegraphic transfers of money between tbis
No. 28 B R O A D S T R E E T ,
oountry, Europe and British and Danish West In
dies. Make collections of drafts drawn abroad on ail
N ew Y ork .
points in United States and Canada, and of tqfrfts
oadw ay,
1 3 New Street,
drawn in the United States on foreign counties.
Issue Letters of Credit for Travelers 7 2 B r(Members
of the N. T . Stock Exchange.)
Their Londgn house, Messrs. BROWN, SHIPLEY
On SELIGMAN BROTHERS, London.
A CO., receive accounts o f American banks, firms
Buy
and
sell
Stocks
and
Bonds
for
cash or on mart
SELIGMAN FRBRES & CIE,Paris.
and individuals nnon favorable terms.
Interest allowed on deposits. Correspondence
SELIGMAN & 8TETTHEIMER, Frankfurt. gin.
BROWN, 8H1PLEY & CO., Liverpool.
solicited.
ALSBERG, GOLDBERG & CO., Amsterdam.
BROWN, SHIPLEY & CO., London.
JOHN F. DOUGLAS,
ALTMAN A STETTHEIMBR, Berlin,
U. S. Government Financial Agents in England.
Of the late firm of Lawson, Douglas A Co*
Payable in any part of Europe, Asia, Africa, Aus
WILLARD H. JONES,
tralia and America.
Late o f W.8.Lawson A Co., Member N.V.Stook Bxeb
Draw Bills of Exchange and make Telegraphic
Transfers o f Money on Europe and California.
33 N ASSAU S T R E E T .
W ALL STREET, CORNEE OF BROAD,
f
John Paton &
C o.,
Brown Brothers & C o .,
gaufetxB atxä %x0hzx$.
John H . Davis & C o.,
J. & W . Seligman& C o,,
Douglas & Jones,
J. & J. Stuart & C o.,
J. K e n n e d y T od .
BILLS OF EXCHANGE ON
A l e x an d e r
H. O. N orthcote.
P A Y N E A S M I T H ’ S,
BANKERS, LONDON,
J, Kennedy Tod & C o.,
M AN C H ESTE R A COUNTY B A N K ,
“ LIMITED,”
MANCHESTER, PAYABLE IN LONDON;
ULSTER
B A N K IN G C O M P A N Y,
BELFAST, IRELAND
AND ON THE
N A T IO N A L B A N K O F S C O T L A N D ,
EDINBURGH AND BRANCHES;
ALSO,
C V.BLE TRANSFERS AND LETTERS OF CREDIT.
NO. 63 WILLIAM STREET,
BANKERS.
Act as Agents for Banks, Bankers and Railroa
Companies.
Issue commercial credits, also foreign and domestio
travelers’ letters of credit in pounds sterling A dollars
O ffe r I n v e s tm e n t S ec u rities.
Buy and sell bonds, stocks and securities in all Am
erioan, Canadian, Bsitish and Dutch markets on com
mission. Collect dividends, ooupons and foreign and
inland Drafts.
Sell Bills of Exchange on
M E L V IL L E , EVANS A CO., i . nw nnw
C. J . H A M B R O A SON,
’ jLONDON
M A R C U A R D , K R A U S S A CO., ! p i n i a
H OTTINGU ER A CO.,
i P A R IS .
S M IT H )
J
ohn
M
unroe
& C o.,
N o . 3 2 N a s s a u S tree t, N e w Y o r k .
N o . 4 P o s t Office S q u a r e , B o s t o n .
Issue Circular Letters o f Credit for Travelers’ Use
Abroad against Cash or Satisfactory
Guaranty of Re-payment.
E rc h a n g e o n L o n d o n , P a r i s , B e r lin ,
Z u r ic h a n d S t. G a ll.
Cbedits Opened
a n d p a y m e n t s m a d e b y cable .
P a r is H o u s e —M U N R O E A CO.
Geo. Coppell .
th o s . Ma it l a n d .
G er a ld L. H o y t , Member N. Y. stock Exch.
Maitland, Phelps & C o.,
B A N
K E R S
AND
COMMISSION
22
A
24
J. L. Robertson,
b a r in g ,
Member N. Y. Stock Bxoh’ge
MERCHANTS,
E x c h a n g e P la c e ,
BO ND AND ST O C K B R O K E R ,
Dealer In Investment Securities,
No. 7 NASSAU STREET,
(Continental National Bank Building,)
N ew
W m.
Y ork.
v. Ca r o l in ,
Member N.Y. Stock Exchange.
Ch ar le s
f.
Co x .
Carolin & Cox,
Banker* and Commission Stock Brokers
No. 56 BROADWAY,
Branch Office, 315 Madison Av.,cor. 42d St.,NewYork
Deposits received subject to check at sight, and in
terest allowed on daily balances. All stocks and secur
ities dealt in at the N.Y. Stock Exchange bought and
sold on commission, for cash or upon margin.
James D . Simons,
J
(Formerly SIMONS A CHEW.)
R A N K E R A B R O K E R ,
2 Exchange Court A 5 2 Broadw ay, N. Y .
Ail Securities dealt in at N. Y. Stock Exchange
bought and sold for Cash or on Margin. Special atten
tion given investments. Correspondence solicited..
MemberN. Y. Stock Exchange.
Member N. Y. Produce Exchange.
Ne w Y o r k .
Schulz & Ruckgaber,
BAN K ERS,
29 W IL L IA M ST R E E T , N E W Y O R K ,
OORRH8PONTVHNTS <JV THE
I n t e r n a t io n a l R a n h o f L o n d o n
(L i m it e d ), L o n d o n .
M e s s r s . J o h n R e r e n b e r g ,G o s s le r A C o .,
H am bu rg.
’
M e s s r s . M a r c u a r d , K r a u C o . , P a r is .
Commercial and Travelers’ Credits.
Bins o f Exchange.
Cable Transfers.
BILLS OF EXCHANGE, LETTERS OF CREDIT,
TELEGRAPHIC TRANSFERS OF MONEY ON
LONDON, PARIS, MEXICO, CUBA, Ac., Ao.
Stew
art
B
ro w n ’s
Son s*
THE
ST O C K B R O K E R S ,
I N V E S T M E N T CO.
o f Philadelphia.
6 4 B r o a d w a y A 1 9 N e w St.« N e w Y o r k .
310 C H E S T N U T
STREET
F. H . Smith,
BANKER
& B B 0K E B ,
N o . 2 0 B R O A D S T ., N E W Y O R K .
Capital, 9 4 ,0 0 0 ,0 0 0 . F all Paid.
THE NEW YORK
Speculative Accounts Solicited.
CONDUCTS A GENERAL BANKING BUSINESS
Orders received in Stocks for large or small
Allows Interest on cash deposits, subject to check amounts, either for cash or on margin.
or on Certificates.
Particular attention given to investments.
Buys and sells Bills of Exchange, drawing on
All issnes of bonds, either in default or other
Baring Bros. A Co., London; Perier Freres et Cie, wise, carefully quoted.
C A P IT A L , 9 1 ,0 0 0 ,0 0 0 .
Paris; Mendelssohn A Co., Berlin, and on Paul
TWENTY YEARS’ EXPERIENCE.
hfendelssohn-Bartholdy, Hamburg.
Transacts a general banking business.
F. H. Sm ith , ) Members Consolidated Stock and
Negotiates Securities, Railroad, State, Municipa
Receives accounts o f banks, bankers and corpora etc.
8. W. Sm ith , j Petroleum Exchange, New York.
tions upon favorable terms,
Offers for sale first-class Investment Securities.
WILLIAM BROCKIE. President.
Issues certificates o f deposit bearing interest.
WHARTON BARKER, Vice-President.
Makes loans upon approved merchandise.
HENRY M. HOYT, Jr ., Treasurer.
ailey
BTHELBERT WATTS, Secretary.
Selloits mercantile and personal accounts.
Board of Directors—William Brockle, George 8
fii, P I N E S T R E E T .
B ills o f E x c h a n g e B r a w n o n th e C ity Pepper, Morton McMichael, Wharton Barker, Henry
DEALINGS in
0. Gibson, T. Wistar Brown, Isaac H. Clothier.
B a n k . L im it e d , L o n d o n .
Advisory Committee of Stockholders.—William
STOCKS
Circular Letters o f Credit issued for Potter, George M. Troutman, Gustavus English, I N S U R A N C E
William Pepper, M. D.. Thomas Dolan, John G.
Swavolers’ ase, aad Commercial Credits Reading, Joseph E. Gillingham, John Wanamaker
A S P E C IA L T Y .
i * E ar«*®, A sia , South Ameriea Henry B. Smith, Craige Lippincott, Hamilton
Cash paid at onee for the above securities; or they
IMSston, Clayton French- Franols Rawle, William
aad (In W e st M i s s ,
Wood, Walter Garrett.-^*—'
will be sold on commission at seller’s option.
Produce Exchange Bank.
E.
S. B
,
THE CHK0NICLE2
J a n u a r y 14, 1888.]
m
*
%'itxt\izxs at*Ä %xoiitxs in %cxo c%vx'h ©it®.
P . M. LOCKWOOD,
Taintor & H olt,
BANKERS,
N o . 11 W a l l S t ., C o r. N e w , N e w Y o r k .
TRANSACT a GENERAI, BANKING business.
DEPOSITS received and INTEREST allowed on
balances.
Buy and sell GOVERNMENT, MUNICIPAL and
RAILROAD Securities.
Private telegraph wires to Providence and Boston
GILES E. TAITOR,
GEO. H. HOLT
G. D. L’HUILIER.
chas.
J. T ownsend ,
L a n s in g C. W ash b u r n
Member N.V. Stock Exchange.
Jno . P. T ow nsend , Special Partner.
H . B. Hollins & C o.,
BANKERS,
1 8 T V A L L an d 3 NASSAU S T R E E T S
NEW YORK.
T ra n s a ct a G e n e ra l B a n k in g B u sin ess.
DEALERS IN GOVERNMENT, MUNICIPAL AND
RAILROAD SECURITIES.
DEMAND DEPOSIT ACCOUNTS RECEIVED.
INTEREST ALLOWED. ON DAILY BALANCES
Co.
P h ila d e lp h ia 4c R e a d in g R R . G o .
on the Philadelphia or New York Stock Exchangee
Simon Borg & C o .,
N o . 2 6 N A S S A U S T ., N E W Y O R K ,
Railroad and Investment Securities.
Young & Nelson,
Dutenhofer,
BROKER,
South ern Securities a Sp e c ia lt y .
J. S.
farlee.
Robert D. f a r l e e .
J. S. Farlee & Brother,
J N o . 7 N A S S A U S T ., N E W Y O R K ,
BROKERS AND DEALERS IN
IN V E S T M E N T B O N D S,
STATE, MUNICIPAL AND APPROVED RAIL
ROAD BONDS.
Correspondence Solicited .
and
Dealer in Miscellaneous Securities
MILLS BUILDING (3d Floor.)
Rooms 25 & 26.
35 W A L L STR E E T.
STATE AND CITY BONDS OF GEORGIA, also
SECURITIES OF THE CENTRAL RR. & BANK
ING CO. OF GEORGIA, A SPECIALTY.
Investors wishing to buy or sell are invited to call
or correspond. Prompt and personal attention
given to all orders.
W . H . Goadby & Co.>
John B. Manning,
Alexander Campbell & Co.,
BANKER AND BROKER.
N o . 1 4 W a l l S tree t, N e w Y o r k G ity,
S O U T H E R N S E C U R IT IE S
A SPECIALTY.
State, Municipal and Railway Bonds and Coupots
bought and sold at best market rates. Investors ot
dealers wishing to buy or sell are Invited to communi
cate with us.
Member of the New York Stock Exchange.
Rolston & Bass,
No. 20 BROAD STREET, NEW YORK.
STO CK S, BONDS,
A N D M IS C E L L A N E O U S S E C U R I T I E S
Correspondence solicited.
Quotations cheerfully furnished
W k . H. R olston ,
W. A lex . b a s s , Jr.
Member N. Y. Stock Exch’ge.
W alston H . Br o w n .
F red , a , B r o w n .
H erbert P. Br o w n .
Walston H . Brown & Bros
BAN K ERS.
Accounts of Corporations and Individuals received
upon Liberal Terms. Securities Bought and Sold on
Commission.
N o . 3 0 N ASSAU S T R E E T ,
NEW YO R K .
We solielt orders for the purchase or sale s f s j e t
the securities o f the
j
DEALERS IN ALL KINDS OF
A.
C o u r t, N e w Y o r k .
Private telegraph wires to Cbloago, Boston, Phlfcu
deiphia and Baltimore.
)
>
120 B road w ay.
BANKERS AND BROKERS,
3 6 W a ll S treet, N ew Y o r k .
All stocks and securities dealt in at the New York
Stock Exchange bought and sold on oommission, for
cash or on margin. Deposits received and interest
allowed on balances.
N o . 3 1 N e w S tree t a n d N o . 1 E x c h a n g e
W m . m . H a r r im a n ,
N icholas F ish ,
Oliv e r H a r r im a n , Jr .
BANKERS AND BROKERS,
W. S. Nelson
B AN K ER S AND B R O K E R
&
BANKERS AND BROKERS,
E Q U IT A B L E B U IL D IN G ,
T. 8. Y oung , J r .,
Member N.Y. Stock Exchange.
Lockwood & Crosman,
Harriman
Townsend & Washburn,
N o , 6 W a l l S tree t, N e w Y o r k .
Btooks and Bonds Bought and Sold on Commission
for cash or on margin.
Special attention given to Unlisted Securities.
Deposits received, subject to Check at Sight.
Correspondence solicited.
J. HBKOX CBOSMAK.
BANKERS AND BROKERS,
No.
24
B R O A D
S T R E E T ,
N ew Y o rk .
J. C . Walcott & C o .,
BANKERS AND BROKERS,
N o . 2 4 P in e S tree t, N e w Y o r k .
Transact a General Banking Business,
Stocks and Bonds bought and sold on Commission,
Collections made and loans negotiated.
Dividends and interest collected.
Deposits received subject to Draft.
Interest allowed. Investment securities a specialty.
W e issue a Financial Report weekly.
Jos. C. W alcott ,
> Members of the New York
R W " F. DTCKUiSON, (
Stock Exchange.
Office of the Pneumatic Steering Gear Sc Mfg.Go.
l . c .L ath r o p .
Oscar b . Smith . J. H.Olephant
Lathrop, Smith & Oliphant,
ban kers an d brokers,
37 BROAD STREET, NEW Y O R K ,
Members New York Stock Exchange, New T n k
Cotton Exchange, and Board of Trade Chicago.
Green & Bateman,
BANKERS,
1 0 W a l l S tree t, N e w Y o r k .
Stocks, Bonds and Cotton,
T r a n s a c t a G e n e ra l B a n k in g B u sin ess
In terest a llo w e d on D e p osits.
BANKERS AND BROKERS,
W. H . D ick in so n ,
2 6 P IN E S T R E E T , N E W
YORK.
Malcolm Cam pbell , Member of N. Y. Stock Exch.
e /h c /H l> .iC d < W f jG o
BANKERS,
18
W ALL
STREET,
E sta b lish ed
NEW
YORK.
p . a l l in g
Dickinson & Ailing,
8A N K E R S
AND
B R O K E R
N o . 3 0 P in e S tree t, N e w Y o r k .
Buy and sell at N. Y. Stock Exchange, for IN
VESTMENT or on MARGIN, all olasses of Stooks
and Bonds, and allow interest on deposits, snhjeot to
check at sight.
R . J. Kimball & C o.,
[Established in 1865.]
1865.
MEMBERS OF NEW YORK STOCK EXCHANGE.
Allow interest on deposits subject to sight check.
Buy and sell on commission stocks and bonds either
for cash or on margin, and deal in
Investment Securities.
A. M. K idder ,
H . J. Morse ,
Ed w a r d
Member N. Y. Stock Exchange.
W a y l a n d Tr a s k ,
Ch a s . d . Ma r v in ,
BANKERS A N D BROKERS,
1 6 dc 1 8 B r o a d S tree t, N e w Y o r k ,
Members of the New York Stook Exchange and
the Philadelphia Stock Exchange.
Robert J. K im ba l l .
A lfred
b . lounsbbrr
H e n r y G. Cam pbell , >Members N. Y. Stock
J. Borden H a r r im a n , j
Exchange.
H . G. Campbell & C o .,
IB o o d u .
A is U e íía ii
&
C o*«
B A N K E R S AND B R O K E R S ,
9 N ew S tr e e t aHd 7 4 B r o a d w a y ,
NEW Y O R K
B A N K E R S ,
5 7 Broadway, opp. Exchange Place, N. Y .
Branch Office, 2 4 1 L a Salle S t., Chicago.
BAN KERS,
TRANSACT A GENERAL BANKING BUSINESS,
INCLUDING THE PUBCHA8B AND SALE OF
BANKERS AND BROKERS,
N o. 63 C E D A R S T R E E T .
STOCKS AND BONDS FOB CASH OR ON MAF6 BROADW AY, NEW YORK.
GIN. BUY AND SELL INVESTMENT SECURI N o . 9(Members
New York Stock Exchange.)
In addition to a General Banking Business, Buy TIES. INTEREST ALLOWED ON DEPOSITS
Accounts of Banks, Bankers and others received.
and Sell Government Bonds and Investment Securi SUBJECT TO CHECK AT SIGHT.
Interest allowed on balances. A strictly Commhuffbn
P.
0.
Box
447,
ties.
Business in the purchase and sale of stocks and bondt
D. A. BOODY.
C. W . McL sl l AN.
Private Telegraph Wire to Albany,Troy, Syracuse,
Reuben L e l a n d .
w m . f . Le ssl is .
Rochester, Utica, Buffalo, Cleveland and Chicago.
H e n r y T. Boody .
Draw on City Bank o f London in amounts to mu.
Special attention given to Securities for lnveetmeoft
Gilman, Son & C o.,
Hamilton & Bishop,
Augustus Floyd,
42 P i
E STREET,
C . J. Turner & Son,
BROKER IN
IN V E ST M E N T S E C U R IT IE S .
N o B u s in e s s D o n e o n M a r g in s ,
R eferen ces.
Geo. S. Coe, Pres’t Am. Exchange Nat. Bank.
Donald Mackay. Esq., o f Vermilye Sc Co., Bankers
Messrs. Mi & H. Clarkson, Bankers, 42 Pine Street
Messrs. Wm. B. Dana A Co., publishers Of thi
Commercial Se Financial m oitiM ei
BANKERS,
U N IT E D B A N K
B U IL D IN G ,
W a l l S tr e e t, c o r n e r B r o a d w a y .
STOOKS, BONDS A G 0M M É R 0ÏA L P A P E R .
Stocks and bonds bought and sold on commission
at.New York PtocS
Advances made on
Business papGr ana offie? seenmtpsl
16 Years’ Membership in the N.Y. Stook Exchange
BANKER
AND B R O K E R ,
16 A 18 B R O A D 8 T „ NEW Y O R K .
Transact a general banging business, including
b e purchase nod side of Steen* Su'd Ponds for emu
if on thatgins
THE CHRONICLE.
Q x u s t (tto m p K n U s .
Q vn st
C o m p a n ie s .
Union Trust Company United States Trust Co.
*
OF N EW
YORK,
78 Broadway, cor. Rector St., N. T.
C A P IT A L , ■ - - - - - * 1 ,0 0 0 ,0 0 0
SURPLU S, - - - - - - $ 2 -,5 0 0 ,0 0 0
Authorized to act as Executor, Administrator
Guardian, Receiver, or Trustee, and is
A LEGAL DEPOSITORY FOR MONET.
Accepts the transfer agency and registry o f stocks,
and acts as Trustee o f mortgages o f corporations.
Allows Interest.on deposits, which may be made at
any time, and withdrawn on five days’ notice, with
Interest fo r the whole time they remain with the
eompany.
For the convenience o f depositors this company
also opens current accounts subject. In accordance
with Its rules, to oheck at sight, and allows interest
upon the resulting daUy balances. Such checks pass
through the Clearing House.
TRUSTEES:
ffm . Whltewright,
James M. McLean,
Henry A. Kent!.
Ambrose C. Eingsland,
R. T. Wilson,
James H. Ogilvie,
Wm. F. Russell,
8. T. Fairchild.
C. D. Wood,
I. H. Frothlngham,
James N. Platt,
George A . Jarvis,
r*. c . Hays,
C. Vanderbilt,
Wm. Alex. Duer,
A . A. Low,
Charles H. Leland,
G. G. Williams,
Edward Ring,
R. G. Remsen,
R. B. Wesley,
Edward Schell,
D. H. McAlpin,
Amasa J. Parker
George B. Carhart,
Samuel F. Barger,
Chauncey M D“ pew,
Geo. *"!. Magoun,
H Van Rennselaer Kennedy.
EXECUTIVE COMMITTEE:
Wm. Whltewright,
G. G. Williams,
James McLean,
E. B. Wesley,
Geo. C/Magoun,
C. D. Wood,
D. C. Hays,
A. C. Kingsland.
EDWARD KING, President,
JAMES M. McLEAN, First Vice-Pres’t,
JAMES H. OGILVIE, Second Vice-PresH.
A. 0» RONALDSON, Secretary.
A. W. KELLEY, Assistant Secretary.
The Union Trust C o.,
011 AND 013 CHESTNUT STREET,
P H IL A D E L P H IA .
Authorized Capital...........•...........................$1,000,000
Paid-up Capital............................................. 500,000
Acts as Executor, Administrator, Assignee, ete.
and executes trusts o f every description known to
the law.
•
•
AU trust assets kept separate from those of the Com
pany.
Burglar-Proof Safes to rent at $5 to $50 per annum.
Wills kept in vaults without charge.
Bonds, Stocks and other valuables taken under
guarantee.
Repository for Western Mortgage loans, bearing 0
and? per cent interest. Principal and interest guar
anteed.
Money received on deposit at interest.
J. SIMPSON AFRICA, Pres.; J. G. READING, V.-P.
MAHLON 8. STOK H8, Treasurer & Secretary.
WM. H. PRICE, Trust Officer.
DIRECTORS.
J.Simpson Africa) Alfred S.Gillett, Joseph Wright,
C.P.Turner, M.D. Wm. 8. Price,
John T. Monroe,
W. J. Nead,
Thos. R. Patton, J. G. Reading,
Wm. H. Lucas, D.H.Agnew,M.D Jos. I, Keefe,
Rob’t Patterson, Theo. C. Engel, Jacob Nayler,
Thos. G. Hood, jEdw’dL.Perkins, William Watson
Samuel Riddle, Glen Rid d le , Pa.; Dr. George W.
Reny,HABRi8BUKG,Pa.s Henry S.Eckert, Re a d in g ;
Edmund 8. Doty, Mifflin tow n ; W. W. H. Davis,
D otlestow n ; R. E. Monaghan, W est Ch est er .
Metropolitan Trust C o.,
Mil ls B u ild in g , 35 W a l l St ., N e w Y o r k .
P A I D - U P C A P I T A L , - - $ 1 ,0 0 0 ,0 0 0
Designated as a legal depository by order of
Supreme Court. Receive deposits o f money on
interest, act as fiscal or transfer agent, or trustee
for corporations, and accept and execute any legal
trusts from persons or corporations, on as favorable
terms as other similar companies.
THOMAS HILLHOUSE, President.
vnKDKRIC n. T APPKN, Vice-President.
CHARLES M. JESUP, Secretary.
THE
Real Estate Trust Co.
OF PHILADELPHIA,
N $. 1340 Chestnut Street.
CANTAL,
.
.
.
.
.
8 5 0 0 ,6 0 0
Receives deposits o f money payable by check and
allows interest thereon; also receives for safe
keeping securities and other valuables, and
rents safd1 deposit boxes in burglar-proof
VPU1+«.
ecel > ©s Trusts o f every description, acting as
. executor, administrator, assignee, etc., and
executing surety for the faithful performance
o f any trust or office.
Acts as Agent or Attorney for .the sale or manage
ment o f real estate, and Insures titles to real
estate and mortgages.
OFFICERS:
President-FRANK K. HIPPLE.
Secretary—WILLIAM R. PHILLER.
Treasurer—WILLIAM F. NORTH.
Real Estate Officer—THOMAS B. PROSSER.
DIRECTORS:
W
- Frank K. Hippie,
George Philler,
K Henry C. Gibson,
Edward T. Steel,
■Lemuel Coffin,
Charles W. Henry,
|1[Beanveau Borie,
John F. Betz,
I William M. Singerly.
Thomas Dolan,
I [John Wanamaker,
R, Dale Benson.
l Solicitor—GEORGE JUNKIN.J
OF N E W YORK,
N o. 49 W A L L S T R E E T .
C a p ita l a n d S u rp lu s,
8 7 ,0 0 0 ,0 0 0
This company is a legal depository for moneys
paid into court, and is authorized to act as guardian
or trustee.
INTEREST ALLOWED ON DEPOSITS,
which may be made at any time and withdrawn
after five days’ notice, and will be entitled to inter
est for the whole time they may remain with the
company.
Executors, administrators, or trustees of estates,
and females unaccustomed t6 the transaction of
business, as well as religious and benevolent institu
tions, will find this company a convenient deposit
ory for money.
________
JOHN A. STEWART, President,
GEORGE BLISS, Vice-President,
JAMES S. CLARK, Second Vice-Pres’t
TRUSTEES:
Wilson G. Hunt, H. E. Lawrence, ¡William Llbbey,
Clinton Gilbert, Isaac N. Phelps, John C. Brown,
Daniel D. Lord, Erastus Corning, Edward Cooper,
Samuel Sloan,
S. B. Chittenden, W.Bay’rdCutting
James Low,
JohnH.Rhoades, Chas. S. Smith,
Wm. W. Phelps, Anson P. Stokes, Wm.Rockefeller,
D. Willis James, KoDt.B.Minturn, Alex. E. Orr,
John J.Astor,
Geo. H. Warren, Wm.H.Macy, it.
John A . Stewart, [George Bliss,
HENRY L. THORNELL, Secretary.
LOUIS G. HAMPTON, Assistant Secretary.
The Brooklyn Trust C o.,
Cor. o f Montague and Clinton 8ts.,Brooklyn, N.Y.
C A P I T A ^ (F U L L Y P A I D ) - 8 1 ,0 0 0 ,0 0 0
This company is authorized by special charter to
act as receiver, trustee, guardian, executor or admin
istrator.
It can act as agent in the sale or management of
real estate, collect interest or dividends, receive re
gistry and transfer books, or make purchase and sale
o f Government and other securities.
Religious and charitable institutions, and persons
unaccustomed to the transaction of business, will
find this Company a safe and convenient depository
for money, RIPLEY ROPES, President.
EDMUND W.CORL1ES, Vice-Pres’t.
TRUSTEES.
Josiah O. Low, E. F. Knowlton, H’y K . Sheldon,
Alex. M. White, John T. Martin, C. D. Wood,
Fred. Cromwell, Wm.H. Male,
A. A. Low,
John P. Rolfe, Ripley Ropes,
Alex. McCue,
Abram B. Baylis,
Mich’l Chauncey, E. W . Corlies.
Wm, B, Kendall, H. E. Pierrepont, H. W, Maxwell,
James Ross Cu b b a n , Secretary.
Fkederick C. Colton . Asst. Sec’y.
STO C K S and BO N DS
A t Auction.
The Undersigned hold R E G U L A R AUCTION
SALES, o f all olasses of
STOCKS
AND
BONOS,
ON
WEDNESDAYS AND SATURDAYS.
A D R IA N I I . M U L L E R & SON,
NO. 1 PINE STREET. NEW YORK.
T r u s t C o .’ s S t o c k s .
ALL OF THE
[VOL. XLVI.
% u M s\ m m \ s.
s p e c ia l
J A R V IS -C O N K L IN
M ORTGAGE
TRU ST
0 0 .,
K A N SAS C IT Y , M O.
C A P I T A L P A I D U P,
8 1 ,0 0 0 ,0 0 0
S U R P L U S , ......................................
1 0 0 ,0 0 0
R e s e r v e L ia b ilit y
. . .
1 ,0 0 0 ,0 0 0
T o ta l
.
.
.
.
8 2 ,1 0 0 ,0 ;;o
This Company offers fo r sale at par and
accrued interest its
SIX P E R CENT D E B E N T U R E S ,
payable half-yearly at the office o f TH E M ER
CANTILE TRUST CO., NEW YO R K . These
Debentures run for Ten years, but with the
option o f redem ption at the end o f F ive years
They are direct obligations o f the Comp any
and are further secured b y an equal am ount o f
Real Estate Mortgages on Im proved and p ro
ductive R eal Estate w orth from three to five
times the amount o f the mortgages, held b y TH E
M ERCANTILE TRUST CO., w hich under special
Articles o f Agreem ent acts as Trustee for the
holders o f the Debentures. They are issued in
denominations o f $500, $1,000 and $5,000
These Debentures are a v ery desirable class
of Investments for Estates and Trust Fundsand for Individuals and corporations desiring
an exceedingly safe investm ent, w ith a 00m,
paratively high rate o f interest.
M o r t g a g e s o n B e a l E s t a t e in Kansas City,
and im proved farm s in Kansas and Missouri,
at n ot to exceed 40 per cent o f the value, are
also offered investors.
Write fo r further inform ation and references
to any one o f the com pany’s offices at
K A N S A S C I T Y , M O .,
N E W Y O R K , 239 B roadw ay;
P R O V I D E D C E , R . I., 27 Custom H ouse St.;
P B I A D E L P H I A , P A . , 1448 So. 4th St.;
B O S T O N , 113 Devonshire Street;
L O N D O N , E N G L A N D , 95 Gresham Street.
FOB SALE:
SECOND-HAND
Railway
Equipment
W e offer th e a b o v e a t lo w p r ic e s lo r ca sh
o r ou e a s y term s o r C a r T r u s t ) o r w ill
e x c h a n g e fo r g o o d s e c u r itie s . W h e t h e r
y o u w ish to b u y , s e ll, o r tra d e , it w ill p a y
y o u to w r ite u s fo r lu ll p a r t ic u la r s .
THE NEW YORK EQUIPMENT CO.,
N ew Y o rk
(Successors to WALKLEY & CO.).
AND
10 W A L L S T B E E T , N E W Y O R K ,
B ro o k ly n Companies’
J a m e s Ir v i n e , P ro s’ t,
L . V . W a l k l e y . S eo’ y
BOUGHT AND SOLD BY
W M .
C .
N O Y E S ,
96 B roadw ay.
See my quotations of Trust and Telegraph Stock!
in Dally Indicator and Saturday’s Evening Post.
'T H E
M I D D L E S E X B A N K I N G C O .,
MIDDLETOWN, CONN.
C a p ita l S to ck , P a id up, . . . .
$ 5 0 9 ,0 0 0
S I X P E R CENT F IR S T M O R T G A G E
D E B E N T U R E BONDS
and mortgage notes guaranteed. Interest payable at
National Bank of the Bepubllc, New York. Char
tered I S ? £• Under same supervision as Savings
Banks. The only mortgage company whose output
is limit ed by statute.
Offices—Boston, 5 Tremont St.; New York, 11 Wal)
St.; Philadelphia, 013 Walnut St.
rjJH E 1 N V E S T O B S
AGENCY
(M. L. SCUDDER, Jb ., PROPRIETOR
MINNEAPOLIS 6 PER CENT GOLD
DEBENTURES,
Q U A D R U PLY SECURED.
SAFE AND MOST DESIRABLE SECURITIES.
Send for circular or apply to
N E H E B & C A R P E N T E R , B an ker«,
TROY, N. Y.
Eastern Managers for Minneapolis Debenture and
Northwestern Guaranty Loan Companies.
Authorized Capital, $4,000,00^ • "aid-up Capital.
$350,000; Surplus, $50,701.
H . L. Grant,
N o.
145 B R O A D W A
NEW YORK.
1,
CITY RAILHOAD STOCKS & BONDS
BOUGHT AND SOLD.
See Quotations o f City Railroads in this'paper.
240 LA SALLE ST., CHICAGO ILL.
R e p o r t e C o n c e r n in g A fla irs o l C orp ora tion s
Albert
RAILROADS ESPECIALLY.
16 &
Large Library Railroad Documents,
Competent Experts.
Confidential Reports,
Moderate Charges.
Send for circular,
Pearce,
18 B R O A D
BROKER IN ALL KINDS
S T .,
OF INVESTMENT
BONDS. MISCELLANEOUS SECURITIES
AND DEFAULTED BONDS.
CORRESPONDENCE SOLICITED.
January
THE CHRONICLE.
7,1868. J
V
^ fin a n c ia l.
ffitta u jc ia l*
ffitm tucial.
("V F F IC E O F T H E D E N V E R & R I O
GRANDE RAILROAD CO., 47 WILLIAM ST.,
New Y ork , Dec. 1,1887.
DIVIDEND NO. 2.
The Board o f Directors have this day
lared a
dividend Of TWO AND ONE-HALF
K) PER
CENT $h the preferred capital stock, payable on the
12th day o f January, 1888; o f which ONE AND
ONE-QUARTER (IK) PER CENT will be paid in
cash out of the net earnings of the Company now
in its Treasury, and the balance—ONE AND ONEQUARTER (IK ) PER CENT—in scrip, bearing five
per cent interest, redeemable at the pleasure o f the
Company.
Transfer books o f the preferred stock will close
for this purpose on the 30th day of December inst.
and reopen on the 13th day of January, 1688.
By order of the Board o f Directors,
WILLIAM WAGNER. Secretary.
THE HOLDERS OF MORTGAGE BONDS OF THE
Canadian Pacific R ’y Co.
F F IC E C E N T R A L P A C IF IC R A I L
ROAD COMPANY, Sa n Francisco , Ca l .—
December 81,1887.
ONE DOLLAR PER SHARE on the capital stock
o f this company will be paid on and after February
1, 1888, on presentation and surrender o f Dividend
Warrant No. 18 at the office of the Southern Pacific
Company, No. 23 Broad Street. New York City.
• Transfer books will be closed at 2:15 o’clock P.M.,
January 18, 1888, and opened at 10 o’clock A.M.,
February 2,1888.
By order of the Board o f Directors.
E. H. MILLER, Jr ., Secretary.
O
T )E E C H C R E E K R A I L R O A D CO.
-D
GRAND CENTRAL DEPOT.
New York , Dec. 28,1887.
A t a meeting o f the board of directors, held on
WEDNESDAY, the 21st inst., a dividend was de
clared o f 2K PER CENT on the preferred stock o f
the company, payable at this office on and after
MONDAY, Jan. 16, 1888; and for the purposes of
this dividend the transfer books for preferred stock
will be closed on Friday, the 30th inst., at 3 o’clock
P. M., to be reopened, on the morning o f Tuesday,
Jan. 17,1888.
ALLYN cOX, Treasurer.
I L L I N O I S C E N T R A L R A I L R O A D CO
JL
SCRIP.
Holders o f certificates o f “ Illinois Central Railroad
Company Scrip for subscription to Capital Stock,
issued in compliance with resolutions adopted by
the stockholders at a special meeting held June 17,
1887,” are hereby reminded that no dividends can be
declared or paid thereon. Such Scrip Certificates
mustvin order to be entitled to dividend, be con
verted, at the Company’s office in New York, into
certificates o f Capital Stock before the 8th day o f
February, 1888, when the transfer books will he
Closed.
A. G. HACKSTA FF,
Acting Secretary.
New York, December 22,1887.
WABASH
ST. LOUIS & PACIFIC
RAILWAY CO.
On L in e s E a st o f th e M ississip p i R i v e r ,
are requested to deposit their bonds on and after
Monday, Nov. 28,1887,with the Central Trust Co.,No.
54 Wall Street, New York, in exchange for trust re
ceipts of that company to be replaced by engraved
certificates as soon as prepared, a plan of reorgani
zation and con solidation having been agreed upon
by representatives of the mortgage bondholders
and the Purchasing Committee.
The salient points of the new plan are:
1. Cash for all overdue coupons of the first mort
gage and funded debt bonds or scrip, except the
Detroit Division, with interest on same to Nov. 1,
1887, upon deposit of bonds under this agreement.
2. Bonds o f the new first mortgage for overdue
coupons of the second mortgages and funded debt
bonds or scrip and the Detroit Division,with interest
thereon to Nov. 1,1887, and for overdue coupons on
consolidated mortgage, funded debt and scrip of
same, and the Wabash moitgage sevens of 1879.
3. Foreclosure of the mortgages where deemed
necessary for the organization of a new company or
companies, and the consolidation o f the company or
companies so organized with the Wabash Western
Railway Company.
4. The creation of a new first mortgage by the Con
solidated Company, payable in fifty years from Nov.
1.1887, bearing 5 per cent interest in semi-annual
coupons, principal and interest payable in gold. Into
this all the old first mortgage bonds, funded
debt and scrip pertaining thereto to be convertibleto the amount o f principal thereof.
5. A new second mortgage upon the lines east of
the Mississippi River, payab’e fifty years from Feb.
1.1888, bearing 5 per cent interest in semi-annual
coupons, principal and interest payable in gold. Into
this the principal of the bonds of all the old second
mortgages, the consolidateds of 1667And the 7s of
1879 to be convertible.
Upon deposit, the Trust Company will give for all
securities its temporary receipts exchangeable for
engraved certificates as soon as they can be pre
pared, which receipts and certificates will bear 5 per
cent interest from Nov. 1,1887, payable semi-annunlly May 1 and Nov. 1.
For payment of this interest the purchasing committee deposits securities io be applied if earnings
are insufficient. The overdue coupons are to be held
by the Trust Company to secure its advances, and
will be canceled when such advances are repaid.
The time for depositing securities under this plan
is limited to Jan. 20,1888, on and after which date
the committee reserve the right to attach a penalty
on any or all of the different securities then unde
posited.
A synopsis of the agreement, and full details, may
be obtained of the Central Trust Company on and
after Nov. 28.
New York, Nov. 21,1887.
JAMES F. JOY, Chairman,")
THOS. H. HUBBARD,
( Purchasing
EDGAR T. WELLES,
j Committee.
O. D. ASHLEY,
J .
CYRUS J. LAWRENCE, Bondholderg>
HENRY K. MCHARG,
, i ° 2 ™ rs
THOS. B. ATKINS,
1 committee.
The above plan is recommended to the bondhold
ers represented by the undersigned.
New York, Nov. 21,1887.
F. N. LAWRENCE,
Chairman First Mortgage Bondholders’ Committee
E Q U IT A B L E
Mortgage Company.
C a p ita l S u b scrib ed . .................... $ 2 ,0 0 0 ,0 0 0
P a id In (C a sh )................................. 1 ,0 0 0 ,0 0 0
D E B E N T U R E S ,
Bearing 6 per cent, running ten years and based
exclusively upon Western Farm Mortgages, held in
trust by the American Loan & Trust Company, of
New York, for the benefit of the bondholders. Their
safety, time to run and rate of interest make them
the most desirable investment now offered. Also,
CHIC. ROCK ISLAND & PAC. 5s;
ST. PAUL MINN.& MAN. GOLD
SOUTH SIDE RR. EXTENDED 5s,
(UNDERLYING LIEN UPON NORFOLK & WESTERN
MAIN LINE,)
AND OTHER CHOICE INVESTMENT BONDS,
FOB SALE BY
6 % THE .AMERICAN
G
O
INVESTMENT CO.,
1 5 0 N a s s a u S tree t, N e w "F o rk ,
Offer extraordinary inducements in
IN V E S T M E N T
S E C U R IT IE S
A LL G U A R A N T E E »,
Assets, October 1st, 1887, $1,866,836 68.
Send for full information and references.
IN V E S T
T H R O U G H T H E SOUND
R E L IA B L E
AN D
WESTERN FARM MORTGAGE CO.,
LAW RENCE, KAN.
F. M. P erk in s , Pres’t.
L. H. P erkins , Sea
P a id Up C a p ita l,
- $ 2 5 0 ,0 0 0
The choicest First Mortgage Farm Loans, also the
Company’s Ten Year Debentures, based upon its
paid up tapital and assets of over $650,000. No losses.
Eleven years’ experience, with absolute satisfaction
to over 1,500 investors. Send for circulars, forms and
full information. Branch offices in N. Y. City and
Albany. New York Office 137 Broadway.
____________________ c . o. TTTNE A s o n . Agents.
R . T . Wilson & C o.,
BANKERS AND COMMISSION MERCHANTS,
2 E xch a n g e « lo a n N ew F o r k .
P A L L A T I N N A T IO N A L B A N K ,
AT
N e w Y o r k , Jan. H, 1888.
At the annual election held on the 10th inst. the
followiDg-named gentlemen were elected directors
of this bank for the ensuing year:
FREDERICK D. T A P B N , WM. W. ASTOR,
ADRIAN ISELIN, Jr ., THOMAS DENNY. FRED
ERICK W. STEVENS, ALEX. H. STEVENS, AL
FRED ROOSEVELT, and HENRY I. BARBBY.
At a subsequent meeting of the Board held this
day, Mr. FREDERICK D. TAPPEN was unanimously
reelected President, and Mr, Alex. H. STEVENS,
Vice-President RTHUR w SHEr m a N, Cashier.
Q F F IC E OF T H E P H IL A D E L P H IA
COMPANY, 935 Penn Avenue, Pittsburg, Pa*
Jan. 11th, 1888.
TWENTY-SEVENTH DIVIDEND.
The Board of Directors of this Company have this
day declared a dividend of ONE PER CENT out of
the earnings for last month, payable on th e. 25th
inst. Transfer books will be closed from the 15th
to the 25th inst., both inclusive. Checks will bo
mailed to stockholders.
JOHN CALDWELL, Treasurer,
K U H N , L O E B & C O .,
30 Nassau Street.
GUARANTEED FARM MORTGAGES.
O F F IC E S «
New York, 208 Broadway I Phila., cor.4th&Chestnut.
Boston, 23 Court St.
|Kansas City, 7th& Del.Sts.
D IV ID E N D N O T IC E .
The half-yearly dividend upon the capital stock o f
this company, at the rate of THKES (3) PER CENT
per annum, secured under agreement with the Gov
ernment of the Dominion of Canada, will be paid on
Feb. 17 next to stockholders of record on that date.
Warrants for this dividend payable at the sgenoy
o f the Bank of Montreal, 59 Wall Street, New York,
will be delivered on and after Feb. 17, at that agency
to stockholders who are registered on the Montreal
or New York registers.
Warrants of European shareholders, who are on
the London register, will be payable In sterling at
the rate of four shillings and one penny half-penny
(is. l^ d.) per dollar, le-s inc me tax,.at the Bank o f
Montreal, 22 Abeburch-Latie, London, and will be
delivered on or about the same date at the office of
the company, 88 Cannon Street, London, England.
The transfer books of the company will be Closed
In London at 3 o ’clock P. M., on Friday, January 13,
and in Montreal and New York at the same hour on
Thursday, Jan. 26, and will be re-opened at 10 o’clock
A. M., on Saturday, the 18th of February next.
By order o f the board,
C H A R L E S D R I N K .W A T E R ,
O f f i c e o f t h e Se c r e t a r y ,
Secretary.
M o n t r e a l , Jan. 2,1888.______________
T H E S T . P A U L M IN N E A P O L IS «fc M A N JL ITOBA RAILROAD C O -40 AND 42 W ALL
STREET—N ew Y oR k , January 12, 1888.
The Board of Directors have declared th£ usual
quarterly dividend of ONE AND ONE-HALF PER
CENT on the capital stock of this company, pay
able at this office on and after February 1, 1888, to
stockholders of record on that date.
The transfer books will be closed January 18, at
3 o’clock P. M., and will he re pened Thursday,
February 2, at 10 o’clock A. M.
%
EDWARD T. NICHOLS,
______________ ______________ Assistant Secretary.
T H E M E R C A N T IL E N A T IO N A L B A N K
A OF THE CITY OF NEW YORK.—New YORK,
January 13,1888.
At the annual meeting of the shareholders of this
bank, held on the 10th inst., the following-named
gentlemen were duly elected directors for the ensu
ing year:
WILLIAM C. BROWNING,ISA AC N. PHELPS.
GEORGE W. CROSSMAN, GEORGE H. SARGENT,
HENRY. T. KNEELAND, CHARLES M. VAIL,
EMANUEL LEHMAN,
ISAAC WALLACH,
SETH M. M1LLIKEN,
JAMES M. WENTZ,
WILLIAM T. MOORE,
FKS. H. N. WHITINQ.
JAMES E. NICHOLS,
FREDK. B. SCHENCK,
WILLIAM P. ST. JOHN.
At a meetir g o f the board of directors held this
day, Mr. WILLIAM P. ST. JOHN was unanimously
re-elected President.
F. B. SCHENCK, Cashier.
U N IO N M U T U A L
Company
The United States Lift Life Insurance
PORTLAND, MAINE.
J O H N E . D E W I T T , P r e s id e n t.
Insurance Co.
IN
THE
C IT V
OF N E W
FORK.
(ORGANIZED IN 1850.)
261, 262 & 268 Broadway, Ne?, York.
6E 0. H. BURFORD, President.
0. P. Fr a l iig h , Seo. A. W heelw right , A n ’t Sec
W m . T. St a n d e n , Actuary.
In c r e a s e i n A s s e t s o v e r - - - .
$ 1 0 0 ,0 0 0
I n c r e a s e i n N e w B u s i n e s s , - - - 4 0 p e r cent.
I n c r e a s e o f B u s i n e s s i n F o r c e , - $ 2 ,4 0 0 ,0 0 0
POLICIES INCONTESTABLE.
CLAIMS PAID PROMPTLY.
TEN DAYS’ GRACE.
ABSOLUTE SECURITY.
T h e m o st lib e r a l an d e q u ita b le c o n tr a c t
c o n siste n t w ith r e co g n iz e d b u sin e ss p r in
c ip le s ,
GOOD AGENTS, desiring to represent the Com
pany, are invited to address J . S . G A P F N E Y ,
Superintendent of Agencies, at Home Office.
ORGANIZED 1849.
Write to the Company or its Agents for circular
explaining
T h e M a in e N o n -F o r fe it u r e L a w .
LOSSES PAID
PROMPTLY AND WITHOUT
DISCOUNT.
The Company is strong, rehable and popular; and
Issues a variety of policies suited to the different
clxcuir stances of insurers.
U X in iu g .
COLORADO CENTRAL
Consolidated
Mining
Co.,
48 E X C H A N G E PE A CE .
Pa u l Lichtenstein ,
H. R. B altzer ,
President,
Vice-President.
R. Y. Ma r t in se n ,
W. B. MANTIFS,
Treasurer.
Secretary
G. W. HALL, S u p t
THE CHRONICLE.
VI
[Vor. XLVI,
fin a n c ia l.
F in a n c ia l
F in a n c ia l*
A First Class Investment. Houston 8c Texas Central Chicago Burlington 8c
R A I L W A Y R E O R G A N IZ A T IO N .
Quincy Railroad Co,
W e offer fo r sale, and strongly recom m end, a
lim ited amount o f
F IR S T
M ORTGAGE,
THIETY-YEAR
SIX
PER
CENT
G O L D S IN K IN G F U N D B O N D S
■upon a prop erty w h ich has, fo r the past five
years, m ade net earnings o f m ore than double
■the interest charges, and whose lo w cash value,
-as estimated by our ow n carefully selected ap
praisers, is m ore than three tim es the total
bon d e d debt.
Price, 97 and ihterest from January 1.
F ull particulars furnished at our office.
JO H N I f . D AVI S & CO.,
1 0 W a l l S t ’ e e t, N e w F o r k .
N e w York & Northern
Railway
Co.
Beorganlz tion First Mortgage 40-year. 5 per cent
gold bonds of Oct. ], 1887, for $ 1 ,4 0 0 ,0 0 0 —an
absolute first mortgage (the amount of which can
not be increased) on ALL the company’s property,
and followed by a second mortgage 4 per cent bond
for $3,800,000.
The railroad, laid with heavy steel, runs from 155th
'Street, New York City, to Brewsters, a d sau ce of
57 miles, including the branch to Getty Square,
Yonkers (which branch is about completed and will
soon be in operation); 8 miles are of double track,
and there are also 11 miles of siding.
The mortgage also covers the rolling stock (much
•of it new), depots, grounds, bridges (including that
over the Harlem River), and some 38 acres o f land
in the city of New York, fro-iting on the Harlem
River.
After thorough examination, we have placed some
$000,100 o f thes bonds with investors abroad, and
now offer the remainder unsold, about $400,000, at
10214 percent and accrued interest—subject to ad
vance without notice. The bonds are listed at the
New York Stock Exchange. Details and earnings
will be furnished on applicatien.
M A I T L A N D , P H E L P S &. CO.
24 Exchange P lace , Jan. 13, 1888.
Spokane
&
Palouse
(NORTHERN PACIFIC)
F i r s t ! M o r tg a g e 6 P e r Cent G o ld B o n d s
FOR SALE BY
E D W A R D S W E E T & C O .,
38 BROAD STREET.
F A H N E S T O C K & C O .,
2 W ALL STREET.
Milwaukee Lake Shore &
Western Railway Co.
5 Per Ct. Convertible Debenture Bonds.
A
LIMITED AMOUNT FOR SALE BY
S. S. SANDS & CO
6 4 C e d a r S treet.
U IS & SA N F R A N C IS C O
ST . 15L OBROAD
W A Y COM PAN Y,
STREET (M
B
il l s
R A IL
u i l d i n g ).
New Yo rk , Jan. 10,1888.
The usual dividend (No. 15) o f THREE and ONEH ALF (3h ) PER CENT on the first preferred stock
o f this company for the past six months has been
this day declared, payable at this office on and after
Feb. 10,1888, to stockholders of record at this office
on SATURDAY, Jan. 21, 1888, after which no first
preferred stock certificates will be received for
transfer until the morning o f Saturday, Feb. 11.
1888.
T. W. LILLIE, Treasurer.
/C O N T IN E N T A L N A T IO N A L B A N K .—At
the annual election, January 10, the following
were elected for the ensuing year :
EDMUND D. RANDOLPH/FREDERIC TAYLOR.
JOHN T. AGNEW,
HORACE PORTER.
C. C. BALDWIN,
WILLIAM TURNBULL,
HENRY M. TABER.
BENJ AMIN PERKINS.
CHARLES H. MARSHALL.
In s p e c t o r s :
ALEXANDER MCL. AGNEW.
WILLIAM KEYAN,
DANIEL S. APPLETON.
At a meeting o f the directors Jan, 11, EDMUND
15. RANDOLPH was re-elected President and JOHN
T , AGNEW, Vice-President.
ALFRED H, TIMPSON, Cashier.
The agreement for the reorganiz ition of the Hous
ton & Texas Central Railway Company is now ready
for Distribution and signature. The holders o f the
several masses of bouds of said railway company
are invited to deposit the same thereunder imme
diately with the undersigned, the purchasing trus
tee named in the said agreement, at its office, No. 54
Wall Street, New Ynr., and ma> make such deposit
UP TO AND INCLUDING FEB. 10, 1888. Negoti
able certificates will be issued therefor upon such
deposit. Holders of the first mortgage bonds will
also receive a bonus of $50 in cash upon each bond
so deposited under and in pursuance to sa.d agree
ment.—Dated New York, Jan. 4, 1888.
CENTRAL TRUST COMPANY OF NEW YORK,
By F. P. OLCoTT, President.
The undersigned Committee o f the Holders of
Consolidated Mortgage Bonds of the Houston &
Texas Central Rai.way Company have approved of
the reorganization agreement above referred to
after consultation with a large majority of the hold
ers of said bonds, and now recommend the signing
ot' .aid »g eement ana the deposit o f their bonds
thereunder by all o f the consolidated mortgage
bondholders. Under this agreement they will re
ceive new 6 per cent bonds In exchange, dollar for
dollar, for the bon-is now held by them, and deben
ture bonds guaranteed by the Southern Pacific Com
pany for 75 per cent of the interest accruing up to
.Oct. 1< 1887. Those not already familiar with the
agreement can obtain full information upon appli
cation to the Central Trust Company, or to the un
dersigned, or to their counsel, Almon Goodwin, Esq.
No. 2 Wall Street.
New York, Jan. 4,1888.
ALBERT S. ROSENBAUM,
WILLIAM H. POM ROY,
JOHN F. PATTERSON.
Committee of Consolidated Bondholders, Houston A
Texas Central Railway Company.
The undersigned Comm ittee of General Mortgage
Bondholders t f the Houston & Texas Central Rail
way Company, having approved of the reorganiza
tion agreem ent above referred to, hereby give no
tice thereof, and that the same has been formally
ratified by the holders o f a large majority o f these
bonds.
Full particulars may he obtained of the Secretary
o f the Committee, or of any of the members there
o f (—Dated New York, Jan. 4,1888.
HENRY BUDGE of Hallgarten & Co., Chairman.
WILLIAM MERTENS, Of L. Yon Hoffman & Co.
THOMAS L. MANSON, JR., of Chas. Head & Co.
FREDERIC TAYLOR of Frederic Tayior A Co.
H. K. POM ROY of Pomroy Bros.
WILLIAM J. QUINLAN, Ja.
CHAS. ROBINSON SMITH, Se eretary, 49 Broad
way, New York.
tP H E B A N K O F T H E S T A T E OF N E W
A YORK.—New Y o rk , January 10, 1888.—At a
meeting of the stockholders of the bank, held this
day, the following-named gentlemen were unani
mously elected directors for the ensuing year, viz.:
R. L. EDWARDS,
JAS. T. CLOSSON.
JAS. B. COLGATE, AUGUST BELMONT, Jr .,
D. D. WITHERS,
JOHN H. ROLSTON,
THOS. RUTTER,
EX. NORTON,
HENRY HENTZ,
JOSEPH LAROCQUE,
R. G. ROLSTON,
JAMES SWANN,
BENJAMIN C. PADDOCK.
At a subsequent meeting R L. EDWARDS was re
elected President, and JAMES B. COLGATE Vice-
NEBRASKA EXTENSION,
F O U R P E R CENT BOND.«,
Due M ay 1, 1 9 4 7 .
Sinking fund to purchase annually 1 per cent oP
whole issue at limit o f 110 and interest, but ne
drawing o f bonds or compulsory retirement.
for sale b y
A U G U S T B E L M O N T & CO .,
3 6 W a ll S tr e e t«
K I D D E R , P E A B O D Y & CO.,
(1 N assau S tr e e t .
T H E CANADA SOUTHERN R A IL W A Y
A
COMPAN V,
T r e a s u r e r ’ s Of f ic e ,
G r a n d Ce n t r a d D e p o t .
N e w Y o r k , Dec. 30,1887.
)
>
J
THE BOARD OF DIRECTORS o f this company
have this day declared a dividend of ONE AND
ONE-QUARTER Per Cent upon its capital stock,
payable on WEDNEsDA V, the 15th day of February
next, at this office.
The transfer books will be closed at 3 o’clook P. M.
on Friday, the 13th January, and will be reopened
on the morning of February 2 \ 1888.
ALLYN COX, Treasurer.
TH E
LAKE
S H O R E & M IC H IG A N ’
-*- SOUTHERN RAILW AY CO.—T r e a s u r e r ’ s
O f f i c e , G r a n d C e n t r a l D e p o t , N e w Y o r k , Dec.
80,1887.
The Board of Directors of this company have this
day declared a dividend of TWO PER CENT upon
the capital stock, payable at this office on Wednes
day, the 15th day o f February next. The transfer
boots will be closed at 3 o’clock P. M. on Friday,
the 13th day of January next, and will he reopened
on the morning of Monday, the 20th day ot February
next.
E. D. WORCESTER, Treasurer.
TH E
M IC H I G 4 I V C E N T R A L R A I L *
JL r o a d CO.—T r e a s u r e r ’ s O f f i c e . G r a n d
C f n t r a l St a t i o n , N e w Y o r k , Dec. 30, 1887.
The Board of Directors of this company have this
day declared a dividend of TWO PER CENT upon
its capital stock, payable on Wednesday, the 15th.
day ot February next, at this office.
The transfer books will be closed at 3 P. M. on Fri
day, the 13th January, and will be reopened on the
morning of Monday, the 20th day of February next.
HENRY PRATT, Treasurer.
DIAMONDS.
W m . S. Hedges & C o.,
IMPORTERS OF DIAMONDS.
D IAM O N D
JEWELRY,
N o . 1 7 0 B R O A D W A Y ,)
NEW YORK*
C o rn e r M a id e n L a n e , |
H o t e ls .
JNO. H. ROLSTON, Cashier.
T H E n a t io n a l b a n k o f t h e r e I
PUBLIC.—New Y o r k , January 10,1888.
At a meeting o f the stockholders of this hank held
this day the following gentlemen were elected di
rectors for the ensuing year :
GEORGE B. CARHART, JOHN JAY KNOX,
SUMNER R. STONE,
CHAS. R. FLINT,
OLIVER S CARTER, JAMES J. HILL,
D. H. M’ALPIN,
JAMES S.WaRREN,
W AL’CE C. ANDREWS, W H.TILLINGHAST,
GEORGE E. SIMPSON.
At a subsequent meeting of the board of directors
held this day JOHN J. KNOX was unanimously re
elected Pres dent, OLIVER S. CARTER, Vice-Pres
ident, and CHARLES H. STOUT appointed Assistant Cashier.
E. H. PULLEN, Cashier.
Fifth Avenue Hotel,
M a d is o n S q u a r e , N E W Y O R K .
The Largest, Best Appointed and Most Liberally
Managed Hotel in the City, with the Most Central
and Delightful Location.
HITCHCOCK. DARLING A CO.
Bible Hotel,
AM STERDAM , HOLLAND.
Beautifully situated in the centre of the city, clone
F O U R T H N A T IO N A L B A N K O F T H E
A CITY OF NEW YORK.—NEW YORK, Jan. 10, to the Railway Station and the Exchange. First1888 —A t a meeting of the stockholders of the
Fourth National Bank o f the city of New York held rate cooking. Excellent wines. Moderate prices.
this day, the following-named gentlemen were unan ____________________ W. P. WERKER, Manager
imously elected directors for the ensuing year:
FRED’K MEAD,
ROBERT W. STUART,
CORNELIUS N. BLISS, RICHARD T. WILSON,
CHARLES S. SMITH, D. B. FAIRWEATHEH,
JOHN H. INMAN,
C. H. BOSHER,
S P R IN G F IE L D , M ASS.
O. D. BALDWIN.
At a subsequent meeting of the directors Mr. COR THE BEST APPOINTED HOUSE IN WESTERN
NEW ENGLAND.
NELIUS N. BLISS was elected President pro tem.,
Convenient for the tourist or business man. Near
and Mr. RICHARD T. WILSON was elected ViceUnion Depot.
President.
H(BUCKHOUT, Cashier.
W , H . fiH d P in
Massasoit
T H E B A N K OF N E W Y O R K , N A T IO N A L
A BANKING ASSOCIATION.—N e w Y o r k , Jan.
11,1888.
At the annual meetiDg of the stockholders held
10th inst. the following-named gentlemen were duly
elected directors for the ensuing year:
JOHN N. BRADLEY,
JAMES M. CONSTABLE,
CHARLES M. FRY,
FRANKLIN EDSON,
CHARLES D. LEVERICH,
GEORGE H. BYRD,
JAMES MOIR,
G. AMSINCK.1
A. W. HARD,
H. B. LAIDLAW,
D. O. MILLS,
EUGENE KELLY,
CHARLES E. B ILL/
At a meeting o f the board of directors held this
day Mr. CHARLES M. FRY was unanimously re
elected President and Mr. RICHARD B. FERRIS
was uui.nauoualy re-elected Vice-President.
E, S. MASON, Cashier.
House,
Spencer Trask & C o .,
BAN KERS & BROKERS,
16 and 18 Broad Street, N. Y*
Albany, N.Y.
Providence, R I,
Saratoga
Transact a General Banking Business»
Direct Private Wires to each office and to
PHILADELPHIA,
BOSTON
WORCESTER* }
HUNT'S
MERCHANTS’
%
MAGAZINE,
f^ u r js p a iw ,
REPRESENTING- THE IN D U S T R IA L A N D COMMERCIAL IN TERESTS OP TH E U N ITED STATES*
SA TU R D A Y, JA N U A R Y 14, 1888.
YO L. 46.
Week Ending Jan. 7.
C O N T E N T S .
TH E CHRONICLE.
Clearing H ouse R eturns........... 55 Railroad Earnings in Decem
The Financial Situation............ 56
ber and the Y ear 1887.........
The Econom ic Disturbances
M onetary and Commercial
Since 1873................................ 58
English N ews..........................
N ew Y ork City and Its Finan
Commercial and Miscellaneous
cial C ondition......................
60
N e w s ... ..................................
TH E BAN KERS’ GAZETTE.
M oney Market, Foreign E x
Prices o f A ctive Bondp at N. Y.
change, U. States Securities,
Stock Exchange, and Rangé
State and Rail road Bonds
since January 1 ,1 8 8 8 ...........
and Stocks............................... 67 Prices o f Inactive B o n d s ......
R ange in Prices at the N ew
L ocal Securities.........................
Y ork Stock E xch an ge........... 68 Railroad Earnings.................
Investm ent and R ailroadN ew s
1888.
6 1 1New York......................
Sales of—
(Stocks............. shares.)
65
(Cotton............. hates.)
(Crain.......... bushels.)
66 (Petroleum...........bhls.)
3Hte (Dhruntclc.
Terms of Subscription—Payable in Advance :
For One Y ear (including p o sta g e ).............................
$10 20
F or Six M onths
do.
................................. .
6 10
European Subscription (including posta g e)........................ 11 28
Annual subscription in London (including postage)......... £ 2 7s.
_____ £1 8s.
B ixM os.
do
do
do
Subscriptions w ill be continued until definitely ordered stopped. The
publishers cannot be responsible fo r rem ittances unless m ade b y drafts
or Post Office M oney Orders.
These prices include the I nvestors ’ S u ppl e m e n t , o f 120 p ages
Issued once in tw o months, and furnished w ithout extra charge to
subscribers o f the Ch r o n ic le .
A file cover is furnished at 50 cents; postage on the same is 18
cents. Youimes hound fo r subscribers at $1 00.
L on d on A g en ts:
Messrs E d w a r d s & Sm ith , 1 Drapers’ Gardens, E. C., w ho w ill take
subscriptions and advertisem ents and supply single copies o f the paper
at Is. each.
w il l ia m B d an a ( W I L L I A l f U . D A N A & C o ., P u b l i s h e r s ,
WIliUAJn JJ. UABA. 1
1
o nm, S t......i
ht V i l «» l i
*
1 HO
02 W
W ii ll ll ti a
r e e t , TW
N -»
EIW
YOUK,
JOHN G. FLOYD.
POST OFFICE BOX 958.
CLEARING
HOUSE
RETURNS.
A superficial examination of the statement of bank clear,
ings for the first week in January would seem to denote that
the new year has not opened very auspiciously. Yet an
analysis of the returns reveals facts which go to make the
exhibit a fairly favorable one. In the first place it is to be
remembered that the exchanges for quite a number of the
more important centres of trade embrace only five business
days this year, in consequence o f the usual holiday on Janu
ary 1, while in 1887 in all cases a full week was included.
Further, the volume of stock speculation in the week o f the
current year has been but little more than one-third of what
it was during the similar time a year ago. Together these
tw o influences are more than sufficient to account for the loss
recorded from last year. In fact, merely making allowance
for the loss of one day’s exchanges at the cities where the
holiday was observed, the falling off from last year would be
only about 7)^ per cent. But if we go still further and elimi.
nate from the aggregate of clearings the amount due to
speculative operations at New York alone, the result would
be a gain, contrasted with last year, in the whole country of
over 6 per cent.
The business failures during the week as reported by
Messrs. R. G. Dun & Co. numbered for the United States 256
and for Canada 23, or a total of 279, as compared with 263
last week and 299 the corresponding week of last year.
Share transactions on the New York Stock Exchange for
the four days have reached a market value of $32,516,000,
against $91,266,000 for the five days a year ago, the exchanges
arising through other business being $510,190,954 and $580,606,152 in the two years respectively, ora decrease of 121 per cent,
NO. 1,177.
$
591,480,934
1887.
Week End’g Dec. 31.
P. Cent.
$
808,709,152
-26-9
1887.
P. Cent.
$
490,824,291
—6-7
(000.025) (1,780,974) (-66-3)
(784,358) (-50-7)
(283,400) (+38-61
(3«2,9u0)
(354.500) (+6-5>
(24.800.100) (37,252.000) (-33 41 (83,543,515) (+8-i>
(43,808,000) (28,588,000) (+53-4) (39,116,000) (+63-5)
Boston.......... ................
Providence....................
Hartford........................
New Haven...................
P ortlan d..................
Worcester.....................
Springfield....................
Lowell............................
93,503,959
0,198,800
3,187.262
1,399,195
1,390.813
1,170,528
1,254,090
072,042
90,977,083
5,311,200
3,380.791
1,088,075
1,240,125
«74,311
1,106,951
059,056
Total New England...
108,830,789
Philadelphia..................
Pittsburg.......................
Baltimore.....................
71,107,162
11,309,212
13,221,904
+28
+16-7
—5-2
—17-1
+11-É
+20-1
+7-5
42-1
60,287,191
4.281.60C
1,638.782
1,041,134
899,772
763,424
787,335
466,318
-26-8
—7-0
+11-6
+4-6
+4»
—15-2
+0-5
—10-3
105,410,192
+3-2
70,165,550
-24-2
74,320.154
11.233.719
10,927,522
-4-3
+1-2
-2 T 9
49,565,216
9,073,037
9,832,623
+4-3
+100
-3 0
Total Middle...............
95,098,278
102,481,395
-6-0
08,470,876
+3-9
Chicago..........................
Cincinnati......................
Milwaukee.....................
Detroit.........................
Indianapolis..................
58,122.835
11,451,000
4,384.407
4,482.338
2,051.-30
Columbus......................
Peoria............................
Omaha...........................
Minneapolis..................
Denver...........................
St. Paul..........................
Grand Rapids................
Wichita..........................
2,498,037
' 1.347.773
3,613,498
3,557,7'2
2,130,411
8,982.175
785,805
854,051
1,581,165
312,518
63,137,737
11,810,500
5,000.702
4,445,348
2,217,414
3,724,827
2,285,560
1.241,323
3,044.702
3,671,641
2,032,173
3,801,512
043.001
1,225,581
—7-6
—31
—12 4
+0-8
-7-4
—11*5
+9-3
+ 86
+18-7
—3-1
+4-8
+14-4
-30-3
49.187.781
8,545," 00
4.18(1,613
3,440.180
1,790.680
2,477,552
2,093.165
1,168.029
2,380,349
3,124,031
2,031,109
2,049.413
500,196
590,016
1,605,210
240,333
+18-3
+20
+13-1
+18-8
+41-8—5*3
+8Ò-5+52-0
+26-2
+12-5
+31-8
—116
+19-1
—19-G
Total Western............
102,510,871
108,354,117
-5-4
84,115,480
St. Louis........................
St. Joseph......................
New Orleans..................
Louisville......................
Kansas City...................
Memphis... ..................
Galveston............... .
Norfolk..........................
18,284,671
1,583,377
12,862,865
0,780,974
6.890.432
8.004,895
1.445,073
965,565
20,122,575
1,248,061
10,488,400
6.658.587
7,523,073
2,880,815
1,812,746
1,026,722
-9-1
+20-8
-f-1‘8
—8-3
+7-4
—20-3
-5 9
15,467.874
1.238,020
10.217,129
3,600,802
5.465,519
2.424,587
1.240,470
907,250
+13-3
+17-.7
+9-7
+T8—0-6
+31-5«
—14-6
+12-8
Total Southern..........
51,913,852
51,701,879
+0-3
40,571,251
+9-3
San Francisco...............
12,131,224
14,679,464
—17-4
15,455,402
+6-0
—19 2 769,002,806
- 3 0 ~278,778,515
—4-9-1 6
Total all...................... 902,571,908 1,191,456,199
Outside New York....... 371,091,0141 382,687,0471
* Not included in totals.
Our usual five-day telegraphic returns of exchanges have
been received and are given be'ow. The total for the seven
cities exhibits a decline from the corresponding five days of
last week, and in comparison with the similar period of last
year there is a loss o f 2*2 per cent. On the basis of these
telegraphic returns the estimate for the full week ended Jan,.
14 would seem to point to an increase, compared with 1887, of
about 0*3 per cent. Messrs. R. G. Dun & Co. report the num
ber of failures for the week ended to-night as 288 (258 in the
United States and 30 in Canada) against 279 last week and 328
for the same week of last year.
Returns by Telegraph.
Sales of Stock (shares) . . . .
Boston............... ............
Philadelphia..................
Baltimore......................
S t.Louis..... ................
New Orleans.................
Week End'g Jan. 7.
Week Ending Jan. 14.
1888.
^887.
P. Cent.
1888.
P. Cent.
$
$
SID 10« 681 SS0 482,480
—5*7 484,607,760 —80O>
(440,883) (-68-6)
(932,828) (1,298,495) (-3 8 2
+2Ö
80,040,390
+5-371,500,728 70,107,81»
-6 9
+9-7* 59,941,724
53,199,848 49,510,36ft
-2
77
—38
10,488,201
10,811,340
11,241,998
47 672,000
41,698,000 +14-3
47,927,400 —13-3
14^280j>49
+8-0
14,709,235 —15-5
15,508.405
9,539,680 +31-6
+1-6
11,603,982
11,055,843
Total, 5 days............
Estimated 1 day. . . . . .
729,401.970
141,027,216
745,860,380
140,834,130.
Total full week... .
Balance Country*..... .
8.0,429,186
115,162,431
QQ*A01 «1^
886,694,51(1
95,881,091
QQO
709,373,619
149,127,218
—24-6
+S-3
—18 858,500,887
+201 104,062,438
_Lf\»*> fy*0 OOPK
-2 0 9
- 2 ’4
—2-2
+01,
F ui (be lull week, based on last week’s returns.
TH E
56
CHRONICLE.
[Y ol . XL\I.
two, and also to a plethora of loanable capital accumuThe money market has continued to grow easier through lating at London, with a decided tendency in the open
the week. As to call money, so far as it is represented market to low rates. The discount rate in London for
by bankers’ balances, the extremes have been 5 and 3 per 60 day to 3 months’ bank bills quoted yesterday was
cent, averaging 4 per cent, renewals having been made at I f @ 2 per cent. W e notice, however, that the arrivals
per cent. Banks and trust companies are offering of gold this week are wholly from the interior of Great
call money at 5 per cent and cannot get it out as fast as Britain. In fact our private cable states that there
they would like to at that. Time loans are quoted at 5 was an export of £12,000 and that consequently the
to 5£ per cent, according to the collateral, for periods arrivals from the interior were £257,000 to make the gain
running from 60 days to 5 months, the principal business of the Bank £245,000 as reported. The open market rate
being done by out of-town institutions who are renewing at Berlin is also low, being reported at I f per cent, doubt maturing loans and making new engagements where the less due in part to the quiet trade which is reported there
collateral and the rate are satisfactory. New Yorir banks A t Paris the rate is 2 f per cent, the high figure being
are not in the market for this class of loans, very few of caused by the speculative disturbance at that capital noted
them as yet having put out any money on time below last week and to the recent drain of gold from the Bank
€ per cent. They will however have to make concessions of France. Even this week the loss was £259,000 gold
soon, unless there is some change in the flow of currency. The Bank of Germany gained since last report abou
Their reserves are rapidly increasing and with the current £338,000.
Our foreign exchange market continued firm the first
small Stock Exchange operations, there is not likely to
half
of the week, with a gradual advance until Thursday
be for the present sufficient demand to take off the accu
to
4
85 for 60 day and 4 88 for sight. This advance was
mulations. Under these circumstances some of our Cleardue
to
an inquiry for long sterling, stimulated by the low
ing House institutions have been driven into the commer.
rates
for
discount ruling in London, while at the same
cial paper market, where they find liberal offerings from
tim
e,
the
supply
was limited. Short sterling was less
makers of notes who have awaited the usual January ease
firm
in
tone
because
of the offerings of maturing
to obtain accommodation at lower rates. Now the quo
bills
in
the
hands
of
speculators
and also by reason
tation for 60 to 90 days endorsed bills receivable is
per
W hen the Bank of England
cent; four months’ acceptances are 5^@6 per cent and of the light inquiry.
good single names having from 4 to 6 months to run are minimum rate of discount was reduced on Thurs
day the leading drawers lowered their rate fo r
6 to 7 per cent.
Thus the tendency for all kinds of loans continues short bills and the whole market was easy at 4 85
towards a lower level, and unless the Government stops for 60-day and 4 87£ for sight. Yesterday there was a
putting its daily surplus receipts into depositary banks> further reduction to 4 8 4f for long and 4 87 for short.
any present change in the tendency cannot be expected. Although the arbitrage operations are at the moment
There seems to be a very strong effort making to create insignificant, there is undoubtedly a steady flow of the
But the movement
prejudice against this practice of the Treasury Depart better class of securities to Europe.
of
cotton
and
breadstuffs
is
small,
furnishing only a
ment.
W e are surprised to see it reported that Mr.
limited
supply
of
commercial
bills.
The future of the
S. V . White, in presenting his refunding bill in the
market
therefore
must
depend
upon
the
extent of the
House this week, stated— after referring to the moneys
stock
and
bond
purchases
on
English
and
Continental
in depositary banks— that “ it was only a short time when
THE FIN AN CIAL SITUATION.
‘‘ this block house built without joints or mortar will
“ topple over, and then it will not be safe for a busi
n e s s man to be too near its base.”
W e stated
last week that the total of these deposits in New
Y ork City banks was less than 12 million dollars.
W e add now, which Mr. White knows as well as
we do, that the amount so held has been placed in some of
the strongest institutions in New Y ork City, and no one
o f them holds to exceed $1,100,000. Furthermore, all of
them are just as capable of responding to any call by the
Government even to the full amount as Mr. W hite is to
pay his household debts. More than that, there is no
warrant for supposing that anything will be done by the
Secretary of the Treasury in the way of disbursing these
deposits except with the same care and wisdom that Mr.
Fairchild has always shown in every act of his affecting the
money market. Everyone has a right to assume, therefore,
that when this money is disbursed it will only be drawn
against gradually to pay appropriations or bond purchases
and pass from one bank to another like any other deposit’.
Thus checked against with discretion and kept in the
channels of commerce all the time, there is no reason at
all for supposing that even the rates of interest would
reflect this disbursing process by a fraction.
Money in Europe except at Paris is very cheap. The
Bank of England minimum was this week reduced to 3£
per cent from 4, at which it had ruled since the first of
September. This reduction is due to the fact that there
is no longer any danger of a drain of gold for America,
but a^contrary movement probable within a month or
account.
The country seems to be in a fair way of getting from
Congress all the currency that can be floated if the
Banking and Currency Committee of the House is to
have its way. Perhaps our legislators want to test the
question— what is a full supply and what will be the
effect of a glut ? W e showed three weeks ago that there
was already in the channels of commerce 60 per cent
more currency than there was on the 1st of January,
1879, when specie payments and a wonderful term of
prosperity came in hand in hand.
The same figures
exposed the further truth that adding to the currency did
not since we began silver dollar coinage, and could not so
long as we persevered in it, either continue or make
prosperity. Furthermore it was seen that on account of
our silver certificate issues and the need there is for
making room for them, the only wise if not the only safe
course to adopt was to leave existing conditions undis
turbed. W e are indebted for the present cycle of pros
perity to the small certificate bill and to the concurrent
contraction of bank notes. Tnat measure gave the
machinery and that contraction gave the opportunity for
getting out silver dollar representatives in so large
measure, and thus relieving Treasury embarrassment iron
its accumulating burden. Now to keep these silver certi
ficates in the channels of trade, where they are, we must
continue to give them work to do— not send substitutes.
There could be no possible objection if it were a pure
question of security, of adopting the report which the
House Committee on Banking and Currency have agreed
January
14, 1888. j
THE CHRONICLE.
57
upon— giving banks circulation to the par value of the ment that we advocate this policy but solely in the inter
bonds deposited. W e have advocated that measure in est of the stock holder whether he be foreign or American.
times past and would earnestly advocate it now, if we did not There is frequently no other way of retaining the line’s
fear that a new source of currency might disturb confidence business and keeping the company in the hands of its
by putting a rival in a field which is wholly needed for the directors.
The year opens with indications of a fair degree of
representatives of standard dollars. Perhaps this pro
posed measure would only advance the price of the bonds; prosperity in trade circles. The feature which wears a
making the relations as to bank note profit no better than less favorable look than any other is the fresh breaking
they now are. If so, and the public want that result, and out of labor troubles, as illustrated in the strike of the
the House wishes the Government to pay the higher price Reading miners and railroad hands. This is an influence,
for the bonds the sinking fund law will compel it to buy— however, which, though unsettling while it lasts, can hardly
why, that presents a different question, and one we were be regarded as more than transient in character. So far
not discussing. The objection we were urging was to the as the issue involves the determination of the question
proposed law as a currency measure. A ll we say on that whether an employer or his employes shall manage his
point is, that so long as the Government continues to coin business, the outcome will be no less decided or emphatic
silver dollars, the proposal is in the line of danger and than it was when the same point was raised two years ago.
So far as it involves anything else, it has no significance or
will not therefore encourage enterprise but check it.
bearing
except to those most immediately concerned. Of
The Louisville & Nashville Railroad made on Tuesday the
course,
the
probable action of Congress on the surplus
stock dividend requested by its London stockholders and
referred to by us last week. That is a precedent which, even revenue question is also a disturbing fact or of some
if widely followed, can harm no interest. Assuming that moment. The conviction, however, is so strong that what
all companies’ methods [of accounts are uniform, keeping ever is done the present year must be in the nature
up road and equipment to its full efficiency and charging of affording relief to business interests, and therefore
each year to maintenance every item necessary to that end, beneficial to trade and industry, that the large body of
there can be no objection whatever, if such is the desire cf merchants and business men appear to be carrying on
the stockholders, to distributing new stock to the amount their operations with little fear of adverse results from
of the year’s surplus, in case that surplus is used in better, that quarter. The totals of clearings for the first week
ments. The kind of stock dividend that is wrong is one of January do not make a very favorable comparison
made, not when earned, but after allowing these surpluses with last year, but chiefly by reason of the fact that the
to accumulate from year to year until the item becomes a figures are based on one day less than in 1887, and the
large one and until those who were owners of the company falling off in Stock Exchange speculation. For the cur
when the profits were earned are in great part the owners no rent week the result will be very much better, which is
longer. Such sporadic dividends are neither j ust nor in gratifying because in the same week of last year there had
the interest of public morals. They are not just because been a heavy increase outside New York. One thing is
as already said the stockholders are constantly changing, clear, and that is, that legitimate trade continues on a
those in possession when the distribution takes place not very large scale, though, as we have frequently pointed
being entitled to it; they are harmful to public morals out, the margin of profit is often unsatisfactory. Railroad
because they are the basis of a wild speculation, those only earnings are a good indication of the business in progress,
making the money who are the managing trustees of the and here we find for the first week of January a gain of 16f
property and their friends having inside information. per cent this year on forty-three roads,, following an
One of the very best acts done the past year in the railroad increase last year of 18 45 percent on forty four roads.
The action of the trunk line association this week in
circles of this country was that of the Chicago & Northwest
in drawing a big black mark through many millions of allowing differentials on west bound freight to the weaker
accumulated surplus it had been carrying forward for or less important roads, follows directly from the pro
years. W e all know how repeatedly in the past that item vision in the Inter State law prohibiting the formation of
has been worked to push up the price of Northwest, pools. It is clear, of course, that under equal rates the
not through any influence of the management, as this act stronger and best-equipped roads possess advantages
— even if there was no other evidence— so clearly proves, which it is difficult if not impossible for the less favorably
but by street rumors of a dividend, which were sufficient situated roads to overcome, for other things being the
same a shipper will invariably send his goods by the line
to empty the pockets of the simple.
W e are surprised that some of our London exchanges or lines possessing superior facilities and appointments.
still fail to see the propriety of ever allowing earned sur. Hence the effect is that the New Y ork Central and the
plus to go into betterments. They mistake in measuring Pennsylvania get nearly the whole of the business. That
the necessities of this new country by the needs of a has always been the trouble in the way of harmony, but
finished one like England. Earnings here, even of our as an inducement to the weaker lines for maintaining
trunk lines, must for a long time fluctuate far more widely rates, and as compensation for the loss of business result
with the fluctuations in crops and trade than in Great ing from such a policy, the pool would allot a certain
For
Britain; hence, to make dividends regular, a management fixed percentage of the traffic to each road.
in America always requires a surplus to draw on. Then as evening up the percentages, two methods were
to weak or struggling roads in the less settled portions at different times in vogue. But both methods
o f the country, where new lines are constantly push are now illegal, and pools also are illegal; hence there was
ing into the territory of older ones, there might no other solution except to have recourse to differentials.
be no end of receiverships if the English policy Under the new arrangement, there will be two sets of
were pursued. These struggling companies generally have rates (aside from the differentials allowed the outside roads),
a future of great promise if they can retain the field they the first or higher applicable to the Pennsylvania and New
hold, and yet it would be impossible for them to secure Y ork Central and the second applicable to the Erie, the
new capital to do it with, and a dangerous experiment to Lackawanna, the W est Shore, and the Baltimore & Ohio.
assume new interest burdens if they could. It is not at all It had been determined to raise rates anyway on the 4th,
in the interest of theJJnited_States or of railroad manage^ 5th and 6th classes, so that even with the differentials the
58
TH E C H R O N IC L E
lowest rates now are higher than before. Taking the
tariff to Chicago as a basis, the rates on the 5th and 6th
classes (provisions and grain) will be 33 and 27£ cents on
the best situated roads, and one cent less on the other
roads. On the fourth class the difference in favor of the
minor roads will be 2 cents, on the third class it will be
three cents, on the second class it will be four cents and
on the first class it will be as much as five cents. Of
course, the arrangement is more or less of an experiment
aDd the differentials may have to be readjusted later on.
Under an increasing demand for bonds, the stock mar
ket this week has developed a hardening tendency. Specu
lation is very limited, and while it is difficut to depress
prices much, the absence of any large buying movement
makes it almost equally difficult to establish any decided
advance. As stocks are strongly held, however, and
operators for a decline are making no demonstrations
against the market, the limited purchases in progress
either for investment or speculation keep the tone firm.
The Reading strike is exercising very little influence upon
the market, and the company’s good showing in its annual
report submitted this week has served in a measure to
offset the adverse effects resulting from the dispute with
the miners. The resignation of President Baldwin of the
Fourth National Bank, and the majors as to the cause for
that step, have also been without any influence upon
prices, though under other conditions of the market the
result might have been different. The Louisville & Nash,
ville management, in accordance with the request of the
foreign stockholders, declared a two per cent stock divi
dend, but almost immediately the price declined an^
now stands about the same as a week ago. Norfolk &
Western stock has been strong on continued good reports
of earnings, and the St. Louis Arkansas & Texas
securities have also all been higher for the same reason,
the second mortgage bonds having advanced several points.
Many other bonds, however, have also sharply advanced,
under the demand prevailing. The fall in the rates for
foreign exchange towards the end of the week, the reduction in the Bank of England rate of discount, the easy
condition of money here, the large return flow of funds
from the interior, have all been elements favorable to
higher prices, and so have the good reports of earnings
for the first week of the new year. On another page we
give the October statement (just received) of the Chicago
& Alton, showing again in gross for the month of $94,430
and in net of $23,501; for the nine months the gain is
$827,805 in gross and $423,918 in net. The reduction of
rates in that section of the country still goes on.
The following statement, made up from returns collected
by us, indicates the week’s receipts and shipments of cur
rency and gold by the New York banks.
Week ending January 13,1888.
Received by
Shipped by
N. Y. Banks. N. Y. Banks.
Net Interior
Movement.
Currency...........................................
Gold...................................................
12,350,000
500,000
$352,000
Gain. $1,903,000
Gain... .500,000
Total gold and legal tenders....
$2,850,000
$352,000
Gain. $2,498,000
The above shows the actual changes in the bank holdings
of currency and gold caused by this movement to ..and
from the interior. In addition to that movement the banks
have gained $350,000 through the operations of the SubTreasury. Adding this item to the above, we have the
following, which should indicate the total gain to the New
Y ork Clearing House banks of currency and gold for the
week covered by the bank statement to be issued to-day.
It is always to oe remembered however, that the bank
statement is a statement of averages for the week, whereas
the figures below should reflect the actual change in the
[Y ol. XL\I,
condition of the banks as between Friday of last week
and Friday of this week.
Week ending January 13,1888.
Banks’ Interior Movement, as above
8ub-Treasnry operations................
Into Banks. Out of Batiks. Net Change in
Bank Holdings.
$2,850,000
7,400,000
$352,000
7,050,000
Gat n.. *2,498,000
Gain.. 350,000
Total gold and legal tenders ... *10,250,000 1 *7,402,000
Gain..$2,843,000
The Bank of England gained £245,000 bullion dur
ing the week. This represents £257,000 drawn from the
interior and £12,000 shipped abroad.
The Bank o f
France lost 6,475,000 francs gold and 5,450,000 francs
silver, and the Bank of Germany, since the last report^
shows an increase of 12,740,000 marks. The following:
indicates the amount of bullion in the principal European
banks this week and at the corresponding date last year.
January 12,1888.
Banks of
England........
France..........
Germany*....
Aust.-Hung’y
Netherlands..
Nat.Belgium*
National Italy
Tot. this week
Tot.prev.w’k.
Gold.
Silver.
£
20,409,158
43,774,167
20,128,870
6,828,000
4.053.000
2.697.000
6.983.000
£
January 13,1887.
Total.
Gold.
Silver.
lota'.
£
£
£
£
20,409,156 19,589,465
19,589,46»
47,259,912 91,034,079 48,828,165 45,373,616 94.201,781
17,850,130 37.979.000 18,652,820 16,541,180 35.191.000
14,393.000 21.221.000 6.684.000 13,871,000 20.555.000
8.171.000 12,224,000 5.547.000 8.104.000 13.651.000
1.349.000 4.046.000 2.730.000 1.865.000 4.095.000
1.118.000 8.101.000 7.272.000
938,000 8.210.000
104,873,193 90,141,042 195,014,235 109,303,450 88,102,793] 195,498,24»
104,748,095 90,180,217 104,928,312 109,066,487 85,975,4191195,041,906
. „The division (between gold and silver) given In our table o f coin and
bullion in the Bank o f Germany and the Bank o f Belgium is made from
the best estimate we are able to obtain; in neither case is it claim ed to be
accurate, as those banks make no distinction in their w eekly reports,
merely reporting the total gold and silver; but we believe the division
we make is a close approxim ation.
N ote .—We receive the above results w eekly b y cable, and whi’ e
not all o f the date given at the head o f the colum n, they are th e
returns issued nearest to that date—that is, the latest reported figures.
The Assay Office paid $168,155 through the SubTreasury during the week for domestic bullion, and the
Assistant Treasurer received the following from the Cus
tom House.
Consisting o f—
Date.
Duties.
Gold.
Jan.
‘
“
“
“
“
6,
7.
9.
10.
11.
12.
T o ta l..
$646,227
239,643
528,640
698,185
624,723
401,580
14
81
60
36
49
39
$6 000
2,000
2,000
4,500
3,500
1,000
$3,139,000 79
$19,000
TT. S.
Notes.
$72,000
22,000
55,000
89,000
63,000
63,000
Gold
Oertiflc’s.
Silver Oer
tiflcates.
$514,000
185,000
400,000
529,000
482,000
266,000
$5 4,000
2 ),0 0 0
7 1 ,0 0 0
77,000
75,000
70,000
$364,000 $2,376,000
$376,000
Included in the above payments were $9,000 in silver
coin, chiefly standard dollars.
THE ECONOMIC DISTURBANCES SCNCE 1873.
[ f o u r t h a r t i c l e .]
W e have shown that there has been no real overpro
duction of wheat or cotton. These are the two most
important articles in the trade of the United States. A
theory which does not explain the price of these articles
can not be accepted as satisfactory.
But wheat and cotton do not stand alone. Mr. W ells r
statements concerning many other articles in his list will
be found to be misleading. W e have neither the space
nor the time to enter into a detailed examination of thewhole field of industry; it will be sufficient if we point
out a few of the most serious errors into which Mr. W ells
has fallen.
He mentions as one important factor in the recent falL
in prices a great increase in the amount of live animals
imported into Europe— from a value of $3,025,000 in
1870 to $40,650,000 in 1885. A ll this is true enough*
but it is not fair to produce this set of figures aud omit
the equally striking figures with regard to the decrease
in number of cattle grown in Europe itself. A ccording
to the Census enumerations of successive periods, we find
the number of cattle for every 1,000 inhabitants to have
been as follows.
THE C H R 0N IC 1E .
JANUARY 14, 18S8 J
Beeves.
1 8 6 9 ...............................................331
1 8 8 0 ...............................................302
Sheep.
700
568
Bigs.
152
140
Since 1880 there has been no general re count, but there
is every reason to believe that there has been an absolute
diminution in the number of sheep in the face of an
increase of population.
It is obvious that this may offset the increase in
imports. The two sets of results are not in a form where
they can readily be compared with one another. W e can
only quote Major Craigie’s estimates as to the consumption
of meat per head of population in the United Kingdom.
1868................................................................................... Lba. 100-5
1 8 7 2 ............................... .....................................................i . . . 109-2
1 8 7 6 . . . . . ................................................................................... 111-4
1 8 80
................................................................................. 1 1 4 1
1 8 81
................................................................................. 108*3
1882
................................................................................. 103-3
1883*.......................................................................................... 111-6
* Major Craigie’s last Investigations seem to indicate a slight falling off
in 1886-7 per capita, as compared with 1883.
This certainly shows no great tendency toward over
production. And in connection with Mr. Wells’ statistics
as to the growth of a particular form of meat trade, we
may call attention to the fact that according to Neumann’s
estimate the total international trade in meat of all kinds
had only increased from 1,946 million marks in 1877 to
1,954 millions in 1834.
Passing from food products to the raw material of
clothing, let us take the history of wool. Here we find
the same story as in the case of cotton. New processes
had created an increased demand— one which the growers
were hardly able to supp’y. The stocks in Europe at the
end of the year 1880 were 207,000 bales ; at the end of
1885, in spite of the increased production, they were only
180,000 bales. This does not look like over-production.
It looks much more like the effort to supply an increased
demand. Mr. Wells says that the increase in the world’s
production from 1860 to 1885 was 100 per cent, and from
1873 to 1885 20 per cent. This would make the increase
from 1860 to 1873 67 per cent. W h y should the com
paratively small increase in the later period have the
effect on prices which he attributes to it ?
The only difference between wool and cotton seems to
be that our statistics with regard to the former are not
quite so complete, and therefore we cannot speak with so
much confidence. The general indications with regard to
the two articles seem much alike.
Nor can we regard Mr. Wells’ facts as conclusive in the
case of articles like iron and coal. It is true that the
cost of production of these things has been somewhat
lessened ; but it is seriously open to question whether this
reduction will account for the fall in price which has
actually occurred. Nor can we accept Mr. Wells’ state
ments of fact without challenge. He says that “ in 1870
the average output of coal per miner in the British
“ coal mines (counting all the men employed) was 250
*c tons— an amount never before reached. In 1879 this
u amount had increased to 280 tons per man, and in 1884
u the average for the five preceding years was reported at
u 322 tons.” Mr. Wells does not quote his authority, so
that we have not had the chance of verifying his state
ment directly; but bringing it into comparison with the
reports of H. M. Inspectors of Mines, as quoted by Jeans
and others, we find the following discrepancies.
Tear.
1 8 7 0 ... ..
18 79
1880
1881
1882
1883
134,000,000
146,800,000
154,200,000
156,500,000
163,700,000
523,900
537,800
495,500
504,000
514,900
256
273
311
311
318
280
151,000,000
515,200
203
922
......
......
......
......
......
A m u id ’70-83
No. o f m en
employed.
350,900
Av. output Output p er
p e r m an. m an,as stated
Tons.
by Wells.
314
250
Product,
Tons.
110,400,000
59
Instead of an increase of 29 per cent, as indicated by
Mr. Wells, we find a decrease o f 7 per cent in the output
per man in 1879 83 as compared with 1870. N or does
the output per man for the years 1884 and 1885 appear
to have maintained itself at the level of that of 1883; it
is provisionally stated at about 309 tons for each year,
and the tendency of the final corrections is to lower
rather than increase the provisional figures. Of course
Mr. W ells may have based his statements on other
authorities than those to which we have access; but, in
the absence cf any definite citations, we are justified in
letting these contradictions stand without further attempt
to explain them.
W ith regard to iron the case is more complicated. W e
note, however, that Mr. W ells’ statement of an increase
of “ about 100 per cen t” from 1870 to 1886 is not justitied. The figures on which he bases it do not bear out
the statement; and if the necessary allowance is made
for the incompleteness of the earlier returns, we find it
still further from the truth. Sir Lowthian Bell’s estimate
of an increase from 14,345,000 tons in 1872 to 21,063,000
in 1883, or 47 per cent in twelve years, is probably very
near the truth. It should, however, be noted that the
year 1883 represented a maximum, while 1872 did not.
The world’s production in 1884 and 1885 was much less
than in 1883; and though the product of the United
States for 1886 was very much greater than ever before,
this fact cannot be used to explain the course of prices in
1884 and 1885.
It should be further noted that, while there has been an
increased output per man, corresponding pretty accurately
to this increase in product, the decline in prices has goae
on much faster than the reduction in cost. In other
words, while a single laborer produces 50 per cent more
i on (according to Mr. Wells figures), the price of that
iron has fallen so much that his aggregate product com
mands a very much smaller price than it did before. The
facts are as follows.
■
Prices p er ton .—
Germany.
England.
A m erica.
World's Iron Product.Anth'cite pig . Olev’d No. 3. Spiegeleisen .
rrn.
s. d.
M etric tons.
$
Tear.
210
97 12
48 87
1872. ........ 14,700,000
1882 .........
1883. ........
1884. ........
1885 .........
21,300,000
21,500,000
20,200,000
19,500,000
25
22
19
17
75
37
87
87
43
39
37
33
5
5
O
O
72
58
55
47
The decline in price has been so much greater than
the improvement in efficiency, that some further explana
tion must be sought. W as there an overproduction of the
raw material beyond the requirements of the market ?
Mr. W ells thinks that there was, and introduces some
evidence to support his view, but not nearly enough to
make out a case ; while he passes in silence over some
important evidence on the opposite side.
The fall from 1873 to 1878 was special, concurrent
with the panic in the United States and the contraction and
liquidation in the commercial world subsequently. The
amount of unsold stocks in the producers’ hands increased
during that period from 600,000 to 800,000 tons, on an.
aggregate American product of from 2,300,000 to 2,900,
000, or from 25 to 30 per cent of the whole. In recent
years the aggregate American product has nearly doubled,
but the unsold stocks run very much smaller— 10 per cent
of the total instead of 25 or 30 per cent. This does not
look as though production had been outrunning the needs
of the world for actual use. In point of fact, the use of
iron ha3 increased enormously. Take one instance— the
increase in the world’s railroad mileage from 1871 to 1875,
inclusive, was about 46,000 miles; from 1881 to 1885,
inclusive, it was about 72,000 miles. This difference was
60
IH E
CHRONICLE.
more than proportionate to the relative increase in the
iron product-.
W e reach the conclusion that though the cost of pro
duction of iron is less, prices have fallen to a greater
extent than can be accounted for in this way; and that
Mr. Wells fails to make out a case of real overproduction
as compared with consumers’ needs.
There is one commercial staple of first-rate importance
— namely, sugar— in which we think that Mr. Wells
proves that there has been real over-production. If so,
his success at this point is as damaging to his general line
of argument as are his failures elsewhere. He himself
admits that this over-production has been mainly due to
an artificial stimulus by sugar bounties. Let us look at
the bearing of this fact on the question at issue. He has
set out to prove that the fall in prices is due to multiplica"
tion and cheapening of commodities, and that this in turn
is due to man’s increased control over productive forces
Taking the seven commodities which are probably the
most important in his list— wheat, cotton, meat, wool,
coal, iron, sugar— we find that in the first two there has
been no over-production; that in the next four he has at
any rate failed to prove his case; while in the seventh—
the only one where the facts are on his side— he himself
admits the existence of a special set of reasons, d iferent from those with which we are immediately concerned. In six cases his facts are open to objections; in
the seventh case, where the facts are right, they are totally
inconclusive.
N E W Y O R K C IT Y AND IT S F IN A N C IA L
CONDITION.
Mayor Hewitt’s annual message, submitted to the Board
of Aldermen this week, presents a clear and interesting
exhibit of the financial condition, needs and prospects of
the city. There is little perhaps that is new in it, and y< t
the taxpayer and the investor will find the story, though
it be an old one, so plainly and fully told as to leave not
much for further explanation.
First as to the debt, every one knows that after having
been decreasing since December 31, 1882, it is increasing
again now. A t the date above mentioned, the debt less
sinking fund reached $109,388,483. From that figure
the total net obligations outstanding dropped year by
year until December 31, 1886, it was reported at $90,395,634. During the past year, however, there has been
as stated a reversal of this movement, a considerable
addition having been made in 1887. Mr. Hewitt states
it at $2,904,948, bringing the total debt less sinking
fund on December 31 up to $93,300,582; nor is this the
worst of it, for the Mayor promises that there will be a
further and perhaps a large increase in 1888. That is an
important fact, one well worth knowing, and to be re co g
nized by the Legislature and people as a condition which
should discourage any further schemes which may be
proposed this winter for spending the city’ s money.
W e may assume that what has been already authorized
requiring debt increase was needful. A t least the new
aqueduct certainly was; the new parks too were gener
ally believed to be a necessary investment; while of course
it is impossible to stop dock and street improvements.
Y et it should be kept in mind that the debt has increased
nearly 3 millions the past twelve months; that it will
certainly increase in 1888, and if “ the payments for the
“ purchase of the new parks in the annexed district be
u made during the coming year, an unknown but very
“ large sum will be added to the public indebtedness.”
Still another feature equally unfavorable is that the
taxes for the coming year are largely increased. The
[VOL. Xl/Vlr
addition, as estimated, reaches the unusual total of $1,956,977, and this, after allowing deductions due to the amount
in the general fund, and notwithstanding State taxes are
$194,349 less and the interest on the debt, as we shall
presently see, is $275,643 less than in 1887. It should be
said, however, that one considerable item of this increase
is $798,065, which the law requires to be raised
to redeem the city debt. There is another addition
of about $400,000 for repairs and renewals
of
pavements and for repaving streets.
No one can
deny that there is an obvious call for money in those
directions, and if we are going to allow our pavements
to be torn up for private enterprises as well as public,
there can be no harm in being reminded of the fact that it
costs no little money to do it. If the public likes that kind
of work let us pay without grumbling ; if it does not like
it, the best method for waking the people up to a sense of
the wrong is to put on the necessary taxes. Another
large item of increase is $850,072 for the Department of
Public Charities. This expenditure is, we presume, need,
ful. Certainly the condition disclosed the past summer
in the city insane asylums showed that not only better
food but better attendance and accommodations were all
an absolute necessity. Besides these matters, there are
additions to the police, to the fire service, to school
purposes, &c., for the city is growing and we must expect
additions. But it seems as if valuations ought to grow a3
rapidly, and yet the proposed tax rate is $2-18 against $2-1$
last year. The Mayor promises, however, that for the “ in“ crease of burden the public service will be much more tffi“ cient, the institutions of charity will be at least worthy
“ of their name, the streets will be cleaned, the pave“ ments improved, and the general condition of the city
“ raised to a higher order.” If all this is accomplished f
the public will certainly^ realize more return than they
usually do for inci eased appropriations.
But a more agreeable fact— though tax increase is so
large, the relief it affords seems to be lost— is that the
interest charge against the city is growing less. It is a
fortunate circumstance that some of our highest interestbearing debt is falling due. There are outstanding, for
instance, $32,404,200 of 7 per cents, $39,063,778 of 6
per cents and $17,389,346 of 5 per cents; these bonds
are maturing now every year, several millions coming due
in 1888, and by the close of 1901 nearly all of them will
have been paid. As interest is low, and as the credit of
the city is of course high, we are able to replace these
obligations with 3 per cents; in fact, we notice that as high
as 103-75 was offered at the opening of bids on July 13,
and Mr. Hewitt states that even 4^-per cent premium was
obtained in 1887. Altogether, then, as a result of less
debt and of conversions made, the amount required for
interest during the past two years has been in 1886 $7,456,184, and in 1887 it fell to $7,391,814 ; whereas for
1888 the amount allowed, notwithstanding the increase in
the debt referred to, is only $7,116,171.
There is one other important matter Mr. Hewitt dis
cusses, which we shall refer to, and that is the subject of
taxation. He proposes the abolition of all taxes on per
sonal property, except bank shares. W e presume ho
excepts bank shares, because his idea as stated subse
quently seems to be that a system of taxation upon corpora
tions enjoying public franchises could be devised “ which
“ would not be onerous to them, and would more than
“ make up the amount thus canceled.” But that point is
not developed, so that it is not necessary to refer to it
further. As to the proposal to abolish taxes upon all
personal property,— whether by putting the total burden
on real estate, or hby raising the canceled amount
^ANUARF H, 1888,J
THE CHRONICLE.
from corporations,— it certainly deserves considera
tion.
Everyone knows that our present attempt to
collect revenue from personal property is an utter failure.
It is even worse than that— it is very unjust and unequal
in its results, for it draws from those almost wholly who
arc least able to bear it. For years devices of many
kinds have been tried with the purpose of making it
more effectual, but in one way and another the tax is
still avoided. W e must accept the conclusion therefore
as beyond dispute that, in this city at least, a personal tax
cannot be equably enforced, and as enforced it is a wrong.
Furthermore, it is undoubtedly true, as Mr. Hewitt says;
that if all kinds of personal property tax were abolished,
that condition would attract to this city capital from the
whole world.
Real estate holders, who are generally
holders of personal property as well, have reason therefore
for considering this proposal with new seriousness.
R A IL R O A D E A R N IN G S I N DECEMBER AND
THE YE A R 1887.
The December statement of earnings is a good one, and
thus the year 1887 ends as it began in that respect, very
prosperously. It has been a period all the way through of
heavy traffic returns. 1STot every road shows the bes*
earnings on record, but, on the other hand, there are very
many companies whose present aggregates are far above
anything previously reached.
A s compared with the
preceding year, of course, the improvement is very decided
in nearly every case. Out of 110 roads that have made
returns, but seven show smaller gross earnings than in
1886, the loss reaching only $391,443, and the aggre.
gate gain on the whole 110 roads- reaches over 44 million
dollars. This improvement is the more noteworthy, that it
follows a heavy gain the previous year, the increase
then on 93 roads amounting to $30,064,512. Totals now
are based on a larger mileage, but taking the December
statement as a basis, the increase in that respect as between
1887 and 1886, is only 6 per cent, while the increase in
earnings is 14 per cent.
If we look about for reasons to explain this very favor
able state of things, we find them in the great industrial
activity that has prevailed throughout the country. In
the previous year the improvement was largely the result
of the restoration of harmony and rates among the
trunk lines and the adoption of the same policy by
most other roads. The further increase in 1887 fol.
lows chiefly if not exclusively from the great revival
of business. As regards the volume of trade, the year
has doubtless never been excelled, if it has ever
been equalled.
In coal and iron produced, and in
new railroad mileage constructed, all previous records
have been beaten. The building of new road was the
most important factor, and this stimulated everything
else to a marked degree. So large has been the business
in progress, that nearly everywhere managers have com.
plained of the inability to furnish equipment and rolling
stock sufficient to handle it. Except for this remarkable
activity in general trade, there must have been declines
in certain sections, for other conditions were by no means
all favorable.
This brings us to the other element which enters so
largely into railroad traffic, namely the yield of the crops
and the movement of agricultural produce to marketIn this particular the year has not been a favorable one.
The production of wheat is now put by the Agricultural
Bureau at nearly the same total as for 1886, but the yield
has at least been very irregular. In the great winter
wheat belt of the Ohio Valley the outcome was unsatis
61
factory and in most cases below that of the previous year.
In Kansas the crop was a failure. For the Northwest the
product of spring wheat is reported heavier than in 1886»
but solely by reason of the fact that Dakota is put down
for an increase of 21,700,000 bushels, the total yield of
that territory being stated as 52,406,000 bushels, which
of course is decidedly heavier than in any other State or
territory. Wisconsin, Minnesota, Iowa and Nebraska all
show a diminished yield.
But if the outturn of wheat was pretty generally
unsatisfactory, the yield of corn over large sections of the
country was much less satisfactory. The production in
1886 had been small, but that for 1887 is reduced 209
million bushels, being reported at only 1,456,161,000
bushels. The falling off is very heavy in all the States
of the Ohio Valley and in Kansas. Some idea of the extent
of the decline in that section may be gained from the
fact that last year there were six States producing in
excess of 100 million bushels each, while this year there
are only three. The new crop of corn does not usually
begin to move much before the first of January, so it
may be supposed that the failure could not have had
much effect upon the 1887 earnings. But it did have an
effect all through the later months in causing farmers to
hold back supplies of old corn, which if the promise of
the new crop had been good would have gone directly
to market.. Besides, the crop had been poor the
previous year, as already stated, so the roads suffered
from that circumstance even before the new crop became
a factor in the situation.
In view of this unfavorable agricultural outturn in the
season of 1887, an examination of the grain movement
for the full year, as compared with the year before, pos
sesses more than the ordinary interest. Taking the eight
leading lake and river ports of the West, we find that
their aggregate receipts of wheat were not materially dif
ferent from what they had been in 1886— that is, they
amounted to 82,458,218 bushels, against 82,222,080 bush
els. But the receipts of flour were over 2£ million bar
rels larger, or 11,956,473 barrels, against 9,400,923
barrels. Here is the movement in detail.
RECEIPTS OF FLOUR AND GRAIN FOR FIVE WEEKS ENDED DECEMBER 31
AND SINCE JANUARY 1.
Flour,
(bbls.)
Chicago—
5 wks. Dec., 1887
5 wks. Dec., 1886
Year ’87, 52 wks.
Year ’86, 52 wks.
Milwaukee—
5 wks. Dec., 1887
5 wks. Dec., 1886
Year ’87, 52 wks.
Year ’86, 52 wks.
St. Louis—
5 wks.. Dec., 1887
5 wks. Dec., 1886
Year ’87, 52 wks.
Year ’86, 52 wks.
Toledo—
5 wks. Dec., 1887
5 wks. Dec., 1886
Year ’87, 52 wks.
Year ’86, 52 wks.
Detroit—
5 wks. Dec., 188?
5 wks. Dec., 1886
Year ’87, 52 wks.
Year ’86, 52 wks.
Cleveland—
5 wks. Dec., 1887
5 wks. Dec.,1886
Year ’87, 52 wks.
Year ’86, 52 wks.
Peoria—
5 wks. Dec., 1887
5 wks. Dec., 1888
Year ’87, 52 wks.
Year ’86, 52 wks.
Duluth—
5 wks. Dec., 1887
5 wks. Dec., 1886
Year ’87, 52 wks.
Year ’86, 52 wks.
Wheat,
(bush.')
Com,
(bush.)
Oats,
(bush.)
Barley,
(bush.)
Bye,
(bush.)
944,456 2,129,445 4,390,380 2,997,668 1,719,798
645,454 2,888,369 4,189,912 3,195,132 1,541,349
6,572.803 21,414.483 51,528,217 45,309,277 12.169.407
4,156,597 16,075,471 62,373,139 39,616,303 12,472,480
106,144
70,292
846.700
923,925
124,483
313,825
2,325,093
8,629,179
225,000 637,527
94,150
115,270
244.450 472,280
917,688 2,568,938 5,165,536
718,150 2,055,822 5,040,083
55,082
16,060
244,928
276,028
628,171
820,565 2,126,345 898,075
87,852
466.805 414.484
76,905
506,112 1,368.050
1,046,627 13,607,162 16,052,019 9,422,335 2,931,882
843,429 11,686,780 15,817,212 7,166,789 2,508,656
31,936
40,772
234,096
442,397
1,179,489
990,655
9,172.342
8,139,989
372,994
32,048
32,508
769,703
284,053 9,581,031
274,061 12,598,303
86,867
380,111
1,837.718
5,749,883
19,006
41.749
429.060
707,346
21,286
19,313
198,351
167,941
501,749
937,685
7,470,567
8,972,528
84,074
67,980 228,546
603,318
112,851
148,087
1,589,386 1,414,590 1,212,031
2,646,550 1,895,310
829,527
31,887
32.362
285,562
231,646
263,497
293,480
2,626,871
2,217,896
148,400 228.966
121,577
133.500
943,023 1,867.949
1,046,743 1,509,130
51,843
54,669
331,844
232,872
16,865
65,325
9,825
21,847
84,007
98,070
67,000
46,250
1,1.38,925
485,985
1,399,900 752,300
656,750 706,150
7,814,090 11,628,931
6,569,830 12,156,090
176,900
76,600
869,150
617,110
34,050
31,500
381,541
314,400
62.100
27,448
260,379
153,277
15,218
22.1S9
169,802
167,985
5,768
4,065,641
2,106,198
1,215,477 17,146.837
22,045,628
Total of all—
248,188
5 wks. Dec., 1887 1,251.837 8,900,380 8,330,116 5,188,995 8,499,885
180,813
5 wks. Dec., 1886 1,13T;614 8,533.452 7,843,931 4.888,714 . 2,728,917
687,307 6,871.824 10,995,256 4,616,126 3,262,295 288,971
5 wks. Dec., 1885
Year ’87, 52 wks. 11,956.473 82,458,218 80,682,141 72,611,078 22,940,229 1,893,932
Year ’86, 52 wks. 9,400,923 82,222,080 94,921.507 65,106,790 21,854,005 2,190,058
Year ’85, 52 wks. 8,643,983 69,598,374 104,262,702 61,709,835 19,357,591 3,388,416
N o t e —Receipts a t Minneapolis not included in the above table were in the
five weeks this year 5,376,480 bushels of wheat.
62
THE
CHRONICLE.
In the case of corn, however, we get a very heavy
falling off, the total for 1887 being only 80,682,141
bushels, against 94,921,507 bushels in 1836 and 104,262,.
702 bushels in 1885, thus showing very plainly the effects
o f the diminished yield. From the figures as given in the
table it will be seen that at some of the western points the
results are decidedly different than indicated by these ag
gregates. Thus with a heavy contraction in the total corn
movement, we find slightly higher totals at both Milwaukee
and St. Louis, and a decided increase at Peoria. The
bulk of the loss of course occurs at Chicago, where the
decrease is nearly 11 million bushels, but Toledo and
Detroit also show a large decrease. In the case of wheat,
the differences are even more marked. A t Chicago and
Milwaukee there is a gain in amount of about 6£ million
bushels, offset by a loss of nearly 5 millions at Duluth*
A t the winter wheat markets there is an increase at St.
Louis, Peoria, and Cleveland, but not nearly enough to
counterbalance the very heavy decrease at Toledo and
Detroit, confirming on the whole cur remark above, first
that the production of winter wheat in most sections had
been below that of 1886, and secondly that the yield bad
been very irregular. W ith reference to the other cereals,
the changes in barley and rye do not call for any special
notice, but in the case of oats there has been quite a con
siderable expansion, due it will be noted almost wholly to
a gain at Chicago and Milwaukee, though Sfc. Louis also
shows a greatly enlarged total. In view of this gain at
Chicago, and the importance of the grain movement at that
point as affecting the earnings and traffic of Northwestern
roads, we have thought it would be desirable to bring
together the results for all the cereals at that centre, and
accordingly present the following table in our usual form.
In this table the figures cover the even year, while in the
Statement above the period taken is 52 weeks, the aggre
gates having been made up from the weekly totals given
by the New Y ork Produce Exchange.
RECEIPTS AT CHICAGO DURING DECEMBER AND FOR THE YE AR .
December.
1887.
Wheat, bush
Corn., bush.
Oats...bush.
Bye....bush.
BaAey.bush.
1,881,489
8,803,681
2,565,815
99,911
1,457,571
Jan. 1 to December 31.
1886.
1885.
2,683,637
3,981,233
3,009,151
67,102
1,445,051
1,607,326
5,242,640
2,727,263
147,711
1,532,089
1887.
21,394,663
51,585,778
45,542,809
845,444
12,171,002
1886.
1885.
16,092,118
62,417,136
39,957,505
938,565
12,585,512
19,267,678
62,918,729
37,684,973
1,915,103
10,781,631
Total grain. 9,808,470 11,186,174 11,257,031 131,539,696Y31,990,836 132,568,114
Flour. ..bbls.
831,548
615,691
810,068 6,558,069 4,158,010 5,304,728
Pork... bbls.
15,466
22,714
1,656
76,147
44,420
41,803
Cut m’ts.lbs- 18,328,083 24,671,878 18,441,826 213,349,720 164,307,196 161,645,002
B ard.... lbs. 9,584 868 13,713,825 . 11,927.425 83,473,644 87,984,348 64,938,806
LlvehogaNo
602,880
830,298]
909,195 5,470,852 6,718,761 6,937,08„
From this it appears that the total for all the cereals
is much the same as in the previous year— only about half
a million bushels less— while the receipts of flour
have greatly increased. The loss in corn, however, has been
very heavy, and as the roads most interested in that cereal
are not all interested to the same degree in wheat and
oats, the increase in the latter two items hardly offsets
the decrease in the former. It is in this way that part of
the diminution in earnings by the Chicago Burlington &
Quincy in recent months, is explained. Besides, the gain
in wheat, as already pointed out, has been counterbalanced
in large measure by the falling off in the same cereal at
Duluth, and many of the Northwestern roads are affected
by the movement at that point as well as at Chicago
Another feature this table brings out is the great falling
off in the movement of live hogs at Chicago, the receipts
for 1887 footing up only 5,470,852, against 6,718,761 in
1886, and 6,937,037 in 1885. A t an average of 245 lbsper hog, this falling off of 1,247,909 in number repre
sents a contraction of over 300 million pounds, or 150,000
ton?.
[Y ol. X I A I
There is one other large agricultural staple which play8
an important part in affecting railroad earnings. W e
refer to cotton, this forming one of the principal items of
traffic on Southern roads. U p to the beginning of th e
new crop year, September 1, this was an agency decidedly
adverse to the roads, the movement being very much
smaller than in the corresponding period of 1386. In
September and October, however, the new crop receipts
were very heavy ; but the improvement was not main
tained (except in the overland), and in December receipts
at the ports fell off 164,000 bales. Altogether, the port
receipts for the twelve months of 1887 were but 45,000
bales greater than in 1836, though the gain iu the gross
overland was 250,000 bales. From the following table it
will be seen that the larger port receipts were by no means
a general favoring circumstance, only four of the ports__
New Orleans, Brunswick, Wilmington and West Point__
showing an increase, all the rest recording lower totals
than in 1836.
RECEIPTS OF COTTON AT SOUTHERN PORTS IN DECEMBER, AND FROM
JANUARY 1 TO DECEMBER 31, 1 8 87, 1 886 AND 1885.
Ports.
December.
1887.
1886.
Year.
1885.
1887.
1886.
1885.
Galveston........bales.
99,763 155,165 125,419 695,581
757,515
614,412
Indlanola, &c..........
3,513
New Orleans...... .
327,632 429.894 396,601 1,835,317 1,731,661 1,578,678
Mobile........................
60,109 214,146
42,671
62,285
248,069
208,655
Florida......................
7,463
5,576
13,128
27,751
31,534
59,556
Savannah................... 139,204 147,995 126,000 866,494
869,475
709,126
Brunswick, &c.......
14,016
8,484
3,430
54,079
27,285
13,909 .
Charleston................
70,765
72,940
76,018 380,786
448,932
451,575
Port Royal, &o........
1,539
2,443
5,242
16,330
19,151
12,254
Wilmington.............
26,888 27,293 14,62» 170,406
140,708
87,346
Washington, &c.... t
1,173
1,140
1,191
4,422
0,920
5,858
Norfolk......................
90.697 102,116 110,661 493,612
597,382 479,009
West Point, &c......
97.698 67,670
59,716 464,709
227,772
298,603
Total..................... 919,009 1,083,001 992,146 5,223,033 5,177,235 4,451,66»
In brief, then, it may be said that as a rule there has
been very little gain anywhere on the movement of agri.
cultural produce, while in some of the items, and notably
coin, there has been a decided falling off, besides which
there was a heavy contraction at Chicago in the receipts o f
hog?. There were also some other adverse factors, chief
among them being the increase of competition and cutting
of rates in the Northwest and Southwest as the result of
the building of so much new road in that territory. This
occasioned a pretty general scaling down of tariffs towards
the end of the year. A t the same time many of the West
ern State commissions were active in the same direction ,
reducing rates, and even down in Florida there were com
plaints on that account towards the close of the year. The
Inter-State law, which it was expected would operate
unfavorably on railroad interests, had rather the opposite
effect. It occasioned some little disturbance for a time,
but this was soon overcome, and through the abolition of
“ dead head” travel, and the saving of concessions for
merly granted favored shippers, the revenues of the roads
were increased rather than diminished. But the main
favoring elements, as already said, were the activity o f
general business and the unprecedented construction o f
new railroad mileage. It was supposed by many that
with July, when we were beginning to compare with
very good results in 1886, the ratio and extent of increase
would be very greatly reduced, but while this proved true
in the .case of the net, it did not prove true in the case
of the gross, where the increase was maintained to the
end of the year, as may be seen from the following. It
should Jbe said that the exceptionally heavy gain in
March was owing to the rushing forward of freight before
the go ng into effect of the Inter-State law in April. In
January the increise was heavy, because the comparison
was with a month in 1886 when the weather had been
J anuary
TH E CH RONICLE
14, 1868.]
Earnings.
Mileage-
Period.
January (97 roads)..
February (101 roads)
March (111 roads). .
April (106 roads) ...
May (102 roads).......
June (113 roads).—
July (107 roads)........
Aug. (104 roads)......
gepte’ber (117 roads)
October (102 roads).
Novemb’r (108 roads)
December(114 roads)
1887.
1886.
Miles.
56,127
55,990
61,901
60,607
60,065
62,623
61,751
60,066
64.989
63,062
61,266
64,292
MUes.
53,592
52,980
58,864
57,481
57,154
59,002
58,750
56,593
61.242
59,466
57,607
60,583
1886.
1887.
Increase or
Decrease.
$
$
$
22,199,905 18,371,020 Inc. 3,828,885
20,762,296 19,025,570 Inc. 1.736,726
28,781,619 24,597,249 Inc. 4,184,370
26,038,442 22,639,785 Inc. 3,398,657
26,132,332 22,594,531)Inc. 3,537,801
27,577,658 24,377,882¡Inc. 8,199,776
26,482,244 24,240,?0e'lnc. 2,241,538
27,010,232 24,154,SOOjlnc. 2,855,732
32,021,344 29,113,648,Inc. 2,907,696
33,879,888 80,321,322 Inc. 3,558,566
30,753,648 26,752,888 In c. 4,000,760
29,233,6421 26,277,240'Inc. 2,956,402
GROSS EARNINGS AND MILEAGE IN DECEMBER.
Gross Earnings.
Name o f Road.
1887.
Atlantic & Pacific —
Buffalo N. Y. & Phila.
Buff. Roch. & P ittsb..
Burl. Ced. Rap. & N o.
Cairo Vine. & C hic..
California S outhern..
Canadian P acific........
* Central o f G eorgia..
Central o f Iow a —
Ches. O. & S. W ..........
Eliz. L. & B. S.........
Chicago & A tla n tic...
Chicago & E ast 111. .
Chic. & Ind. C oal----Chic. M ilw. &St. Paul.
Chicago & Ohio River.
Chic. & W est M ich .. ..
*Cin. Jackson & Mack
Cin. N.O. & Tex. P a c ..
Alabama Gt. South.
N. O & North East .
Vicksb. & Meridian.
Vicksb. Sh. & P a c ...
Cin. Rich. & Ft. W ...
Cin. & Springfield.. ..
Cin. Wash. & B a lt . . . .
Clev. Akron & C ol—
Clev. Col. Cin. & Ind
Clev. & M arietta.........
Col. & Cin. M idland...
Col. Hock. V. & T o l...
Denv. & B io G rande..
Denv. & R. G. W est..
D et. B ay City & Alp.
D etroit Lans’ g & No
D e t Mack. & Marq ...
E astTenn. Va. & G a ..
E vansv. & Ind’nap’ s.
E vansv. & T. H aute..
F lint & Pere M arq. ..
Fla. Rv. & Nav. Co.
Ft. W orth & Denv. C’ y
Georgia P a cific..........
Gr. Rapids & Indiana.
Other lin e s ..............
Grand Trunk o f Can
G u lf Col. & Santa Fe
■‘Houston & Tex. Cent
111. Central (111. Div.)
(Southern D lv .).......
Ind. Bloom. & W est..
Ind. Decatur & Sp—
Kan. C. Ft, S .& G u lf..
Kan. C. Sp. & M em. .
Kan. C. Clin. & Sp —
Kentuckv Central —
Keokuk & W estern...
*Kingst. & Pembroke
Lake Erie & Western.
HLehigh & H udson...
“ Little R ock & M em ..
L ong I s la n d ...............
Louisv. Evans. & St. L.
Louisville & N a sh v ...
Louisv. N. Alb. &Chic.
llouis. N. O. & T exas..
Marq. Hough. & O n..
Memphis & Char’ton.
tM exican Central.......
¿Mexican N a tio n a l. ..
Milw. L. Sh. & W est...
Milwaukee & North ..
Minneap. & St. Louis.
Minn. & N orth w est...
Mississippi & T e n n ...
M obile & O h io ............
Nashv. C. & St. Louis.
“ Natchez Jack. & Col.
N.Y. Cent. & Hud. R ..
N .Y. Out. & West’r n ..
N orfolk & W e ste rn ...
Northern Pacific .......
Ohio & M ississippi...
Ohio Southern............
“ Oreg. R ’ y & Nav. Co.
Peoria Dec. & Evansv.
Pittsburg & W estern..
Richm . & D a n v ille...
Va. Midland D iv —
Chari. C. & A. D iv ..
Col. & Greenv. D iv.
Western N. C. D iv ..
Wash. O. & W. D iv.
Ashev. & Spar. D iv.
§St.L. A. & T .H .m . L .
Do
Branches..
St. Louis Ark. & T e x ..
$
210,302
233,500
184,803
305,375
63,077
151,701
1,143,000
371,859
134,518
199.631
87,833
193.419
184,699
46,507
2,517,000
4,143
96,914
24,795
298,097
158,545
83,636
64,341
71,558
34,609
95,968
198,183
46,719
381,253
29,028
31,548
234,796
709,301
94,425
31,000
81,137
39,731
493,610
19,904
66,678
205,369
115,898
73,260
124,499
169,994
14,897
1,339,594
356,270
177,028
602,600
508,300
207,502
30,540
218,046
171,693
20,216
88,259
27,818
8,483
160.670
15,149
61,822
211,213
100,151
1,431,270
167,597
300,405
47,701
190,273
533,000
152,625
182,653
80,204
140,124
149,551
68,175
242,182
275,482
16,615
3,229,021
117,897
371,345
1,174,093
341,629
33,574
• 62,672
347,990
77,177
159,833
425,400
131,100
76.400
62,800
51,900
11,000
7,200
196,207
88,084
293,800
188*6.
$
158,971
194,702
137,918
306,779
63,269
90,408
894,100
320,030
126,737
166,875
80,846
185,784
167,027
30,084
2,250,241
9,169
99,642
24,306
271,105
129,523
82,624
67,409
77,210
34,746
102,122
177,129
40,855
351,982
23,692
29,047
252,142
635,215
90,500
24,542
98,181
1 22,554
420,619
17,160
61.094
193,569
119,522
46.251
96,528
203,298
9,503
1,425,836
234,646
303,068
626,051
486,670
209,972
61,297
220,794
164,128
16,855
71,461
27,460
4,293
155,185
21,004
72,909
184,224
66,986
1,278,905
155,595
272,376
31,936
177,797
440,980
154,399
167,224
56,536
149,184
77,538
63,535
287,024
229,946
16,221
2,945,063
98,555
248,213
899,665
296,918
17,812
32,839
270,110
77,955
153,552
340,148
120,513
67,304
54,893
42,165
8,50C
3,200
169,881
88,602
236,514
Mileage.
Increase or
Decrease. 1887.
818
+ 51,331
663
+ 38,7 98
294
+ 46,8 85
—1,404 1,039
—192
265
+ 61,2 93
210
+ 248,900 4,476
+ 51,8 29 1,282
512
+ 7,78 1
+ 32,7 56
398
+ 6 ,9 8 7
139
+ 7,63 5
268
+ 17,672
247
+ 16,4 23
146
+ 266 ,759 5,568
—5,026
86
413
—2,728
+489
286
+ 26,9 92
336
+ 29,0 22
295
+ 1,01 2
196
—3,< 68
143
—5,652
170
86
--1 3 7
80
—6,154
+ 21,0 54
281
+ 5 ,8 6 4
144
391
+ 29,2 71
+ 5,33 6
106
+ 2,50 1
70
—17,346
325
+ 74,0 86 1,461
+ 3,92 5
369
168
+ 6,45 8
—17,044
268
151
+ 17,1 77
+ 72,9 91 1,098
+ 2 ,7 4 4
138
+ 5 ,5 8 4
156
+ 11 .8 0 0
361
574
- 3 ,6 2 4
+ 27,0 09
276
401
+ 27,9 71
404
—33,304
+ 5,39 4
68
—86,242 2,924
+ 121 ,624 1,012
513
—126,040
-2 3 ,4 5 1 1,159
794
+ 21,6 30
532
—2,470
152
—30,757
389
—2,748
282
+ 7,56 5
174
+ 3,36 1
253
+ 16,7 98
+358
148
115
+ 4 ,1 9 0
+ 5,48 5
548
63
—5,855
135
—11,087
354
+ 26,9 89
254
+ 33,1 65
+ 152 .365 1,973
+ 12,0 02
537
511
+ 28,0 29
160
+ 15,7 65
330
+ 12,4 76
+ 92,0 20 1,236
—1,774
865
+ 15,4 29
573
243
+ 23,6 68
—9,060
351
460
+ 72,0 13
100
+ 4.64 0
—44,842
687
+ 45,5 36
627
+394
100
+283,958 1,441
+ 19,3 42
321
+ 123,132
533
+ 274,428 3,277
616
+ 44,7 11
+ 15,7 62
173
128
+ 29,8 33
752
+ 77,8 80
254
—778
+ 6,28 1
367
+ 85,252
774
+ 10,5 87
355
373
+ 9,09 6
+ 7,90 7
296
+ 9,73 5
290
+ 2,50 0
50
+ 4 ,0 0 0
70
+ 26,3 26
267
—518 ! 188
+ 57,2 86
940
* Includes three weeks only o f December in each year,
t For four weeks ended Decem ber 81,
JM exican currency.
§ Including Indianapolis & St. Louis,
i Decrease due to coal strike.
1886.
63
Gross Earnings.
Name o f Road.
St. Louis & San F ran..
St. Paul & D uluth.......
St. Paul Minn. &M an.
San Ant. & Ara. Pass.
Shenandoah V a lle y ...
Staten Island Rap. T.
Texas & P a c ific ...........
Tol. A. A. & N. M ich ..
Tol. & Ohio C entral...
Tol. Peoria & W e st. . .
Wabash W estern........
Wheeling & L. E r ie ...
W isconsin Central___
Chic. Wis. & M inn..
Minn. St.Cr’x & Wis.
Wis. & M inn............
1887.
1886.
$
581,352
137,365
905,264
70,359
73,000
50,515
674,917
48,912
104.608
82,592
496.921
69.555
166,752
46,429
35,705
26,003
$
504,041
115,651
700,161
23,759
54,315
44,537
709,492
44,029
93,527
88,767
518,730
55,235
154,177i
41,178
35,954
24,240
Mileage.
Increase or
Decrease. 1887.
$
+ 77,311
+ 21,7 14
+ 205,103
+ 46,6 00
+ 18,6 85
+ 5,97 8
—34,575
+ 4,88 3
+ 11,081
—6,175
—21,809
+ 14,3 20
+ 12,5 75
+ 5,25 1
—249
+ 1,76 3
1,190
225
2,651
283
255
21
1,487
184
213
247
1,001
186
417
122
111
54
1886.
930
225
1,800
96
255
21
1,487
184
213
247
880
186
417
122
111
54
Total (114 road s)... 29,233,642 26,277,240 +2,956,402 64,292 60,583
W ith reference to the December results, it is to be
remarked that some of the roads, and especially Texas
roads, suffered from bad weather in that month in 1887.
Nevertheless the roads as a whole show a large increase,
and this follows a considerable increase in 1886, and also
an increase in 1885, making the third successive year of
geod returns in that month. The following will illustrate
that point.
818
663
294
1,006
265
278
4,337
1,282
512
398
139
268
247
119
Mileage.
Earnings.
5,298
Increase or
Period.
86
Tear
Year
Tear
Tear
Decrease.
413
Given. Preceding. Given.
Preceding.
243
336
Miles.
Miles.
*
1
$
295 Dec., 1880 (48 roads)
28,879
17,448,136 15,001,543 Inc. 2,446,593
33,767
196 Deo., 1881 (55 roads)
21,596,590 17,568,783 Inc. 4,027,807
41,794
36,780
143
23,573,879 22,170,065 Inc. 1,403,814
47,336
43,387
170 Dec., 1882 (63 roads)
20,243,083 Inc. 779,273
Dec.,
1883
(57
roads)
21.022,356
42,750
46,837
86
80 Dec., 1884 (69 roads)
36,888
22,681,192 22,718,080 Bee.
52,867
51,091
281 Dec., 1885 (64 roads)
19,883,941 19,331,811 Inc. 552,130
46,772
45,685
144 Dec., 1886 (97 roads)
60.609
57,817
29,161,051 21,727,786 Inc. 2,433,265
391
60,583
29,233,642 26,277,240 I n c . 2,656,402
64,292
106 Dec., 1887,114 roads)
70
325
Having enumerated the various influences at work
1,317
369 during the year, it will be interesting to note briefly the
129
268 results on special classes of roads.
In the Northwest all
151
1,098 the newer lines, like the Milwaukee Lake Shore & W est
138
156 ern, the Milwaukee & Northern, the Minnesota & N orth
361 1
534 western, and the Wisconsin Central, have done remarkably
163
317 well, chiefly by reason of the development of the mineral
404
As
68 ore traffic from Northern Wisconsin and Michigan.
2,924
concerns
the
older
lines,
the
Chicago
&
Northwestern
is
729
513
about
the
only
one
that
has
shared
in
this
class
of
traffic,
953
711 and hence the new competition has operated to prevent
532
152 any great increase in the earnings of such roads.
The
389
282 following is a summary for six years on a few prominent
174
253 companies.
Neither the Northwest nor the Omaha is
148
115 included in the exhibit, because these companies do not
548
63 furnish returns so early as this.
The Northern Pacific is
135
354 placed with northwestern roads because, though usually
254
2,023 classed as a trans-Continental road, it is very largely
520
511 dependent upon the conditions prevailing in Minnesota
160
Its earnings show a large increase, as also
330 and Dakota.
1,236
865 do those of the Manitoba, though the total of the latter
573
221 does not come up to the 1882 result, notwithstanding the
351
300 great increase in mileage.
100
687
1882.
1883.
1887.
1880.
1884.
Tiar.
1885.
600
100
$
$
$
$
2
$
1,441
321 Bur. C. Rap. & Nor. 3,005.962 2,933,309 3,177,311 2.823,631 2,863,556 2,800,682
1,209,109
1.307,372
1,352,532
1,323,625
1,392.587
1,448,258
533 Central Iowa.........
2,893 Chic. Mil. & St. P. 25,366,167 24,718,403 24,413,273 23,470,998 23,659,828 20,386,726
616 111. Cent.—I’a lines *1,647,001 1,753,306 1,678.336 1,712,389 2,025,109 1,945,532
94 Northern Pacific.. 13,846,640 12,329,552 11,349,699 12,613,305 10,149.050 6,984,897
128
1,109.841
742 St. Paul & Duluth. 1,687.156 1,558,086 1,381,212 1,317,815 1,328,528
254 St. Paul Minn. & M 8,745,227 7,427,339 7,521,138 8,314,197 8,389,095 8,789,021
367
Total................. 55,650,685 52,043,620 50,828,341 51,700,093 49,807,747 43,225,808
774
355
*In this, Decem ber is taken the same as in the previous year.
373
296
Taking next the trunk lines, it is of course known
290
50
W e bring together below
70 that these have all done well.
267
188 six prominent roads, including the Grand Trunk of Can
735 ada and show their results for six years.
These roads
have gained nearly 6^ million dollars on their earnings of
1886, and nearly 12f million dollars on the earnings of
64
THE CH RONICLE
1885. It will be a surprise, though, to hear that the
total for 1887 is not quite up to that for 1883. This is
owing almost entirely to a heavy falling off on the Grand
Trunk, though the Ohio & Mississippi also fails to come
up to its total for that year. The other roads, however,
all show larger earnings than in any of the other years
given.
Year.
Cln. Wash. & Balt.
Clev. Col. C. & I ...
L. 8. & Mich. So...
Mich. C. & Can. So.
Ohio & Mississippi
Gr. Trunk o f Can.*
1887.
1886.
1885.
1884.
1883.
$
$
$
$
$
2,216.395 2,010,406 1,705,270 1,854,308 1,939,867
4,580,939 4,184,117 3,669,439 3,811,743 4,342,604
18,675,464 15,859,455 14,133.506 14,843,584 18,513,656
14,140,000 12.295,828 10,707,394 11,659,077 14,009,767
4,124,075 3,827,831 3,679,615 3,702,959 4,250,151
18,063,00» 17,153,225 15,161,807 17,009,045 +19099942
1882.
$
1,859,751
4,441,600
18,225,639
12,457,991
4,225,500
16,899,424
SC Total................ 61,799,912 55,330,862 49,057,031 52,880,716 62,203,987 58,109,905
* Fifty-two weeks even. + Additional road taken into system.
The roads in the Middle Western section, and which
are dependent upon trunk line conditions, also nearly all
make very good exhibits, and especially the newer or
reorganized roads, on which comparison cannot be
extended further back than one or two years. Here is a
table embracing eight of the older and more prominent
lines for six years. It shows considerable improvement
on both 1884 and 1885 (and of course also on 1886), but
owing to the unfavorable exhibits made by some of the
Michigan roads the comparison with the earlier years is
not so good, the increase being quite small.
Year.
1887.
Chicago & East.IU.
Chic. & W. Mich...
Col.Hock.V. & TolDet. Lansing & No.
Evansv.& Terre H.
Flint & P. Marq..
Grand Bap. & Ind.
m . Cent. (111. Div.)
*
2,058,307
1,403,195
2,716,779
1,142,713
868,937
2,563,077
2,351,435
7,489,189
1886.
$
1.782,200
1,395,979
2.361,403
1,226,536
759,379
2,160,773
2,098,127
6,707,606
1885.
1884.
1883.
1882.
f
1,673,942
1,297,301
2,311,003
1,228,471
727,156
1,946,790
1,946,148
6,508,113
$
1,546,115
1,469,667
1,842,473
1,328,591
743,641
2.252,988
2,116,299
6,158.312
$
1,659,257
1,550,099
2 779,382
1,596,445
732,150
2,542,943
2,361,606
6,674,703
$
1,781,093
1,508,432
2,886,437
1,597,143
850,230
2,165,219
2,260,291
6,959,781
Total.................. 20,598,582 18,492,003 17,638,919 17,458,086 19,896,585 20.008,626
The best returns of all come from Southern and South
western roads, as we have frequently pointed out. The
Atchison, the St. Louis & San Francisco and the St. Louig
Arkansas & Texas are all conspicuous among the latter,
though the Atchison, owing to the increase of competition,
has not been doing so well latterly. The Fort Worth &
Denver is another road in the same section having a very
heavy increase.
Among the distinctively Southern
lines east of the Mississippi the gains are so general and
so large that it is hardly worth while specifying those
specially distinguished in that way. Following is an
exhibit for six years, comprising ten roads. The gain
over 1886 amounts to more than 5 f million dollars, and only
the Houston & Texas Central, the Mobile & Ohio, and the
Southern Division of the Illinois Central, fail to show for
1887 the largest earnings on record.
Year.
1887.
1886.
1885.
1884.
1883.
$
$
$
$
$
Ches. Ohio & So’n- 1,998,178 1,713,326 1,571,155 1,374,645 1,322,455
Cin. N. O. & Tex P. 3,877,551 2,882,171 2,681,547 2,858,185 2,647,343
B. Tenn. Va. & Ga. 5,298,736 4,283,212 4,120,437 3,993,622 4,144,275
Hous. & Tex. Cen. 2,873,218 2,998,335 2,681,520 2,547,847 3,251,875
111. Cent. (So. Div.) 4,311,065 4,088,581 4,434,815 4,320,132 4,364,930
Louisville & Nash. 16,026,181 13,978,734 13,678,774 13,662,465 14,170,248
Mem. & Char....... 1,740,469 1,444,638 1,339,849 1,428,682 1,304,310
Mobile & Ohio...... *2,485,232 *2,224,459 2,057,381 2,160,412 2,268,642
Norfolk & West. .. 4,219,711 3,252,058 2,771,121 2,711,152 2,812,776
Bichm’nd & Danv. 4,446,214 4,060,225 3,971,630 3,873,725 3,845,152
1882.
$
1,027,599
2,623,994
3,351,357
3,156,517
3,848,536
12,981,432
1,129,380
2,185,167
2,429,740
3,663,432
Total................. 48,776,555 40,905,739 39,306,229 38,730,867 40,130,006 36,397,154
* Including St. Louis & Cairo.
t Fourth week o f D ecem ber taken the same as in 1886.
Among roads in other sections of the country that
have greatly improved their earnings, may be mentioned
the Denver & Rio Grande and Rio Grande Western and
the Atlantic & Pacific and California Southern, the latter
two having benefitted greatly by the development of
[VOL, XIA h
Southern California. Some of the bituminous coal roads
in New Y ork and Pennsylvania also have greatly expanded
their totals, and the Mexican Central likewise has a very
heavy gain.
GROSS EARNINGS FROM JANUARY 1 TO DECEMBER 31.
Name o f Road.
Atlantic & P acific...........
Buffalo N. Y . & P hila. ..
Buffalo Roch. & P itts. ..
Burl. Ced. Rap. & N o . ..
Cairo Vincennes & Chic.
California Southern.......
Canadian P a c ific ............
*Central o f G eorgia.......
Central o f Iow a .~ ..........
Chesapeake Ohio & S.W.
Eliz. Lex. & B ig Sandy
Chicago & A tla n tic.........
Chic. & Eastern Illinois.
Chicago Milw. & St. Paul
Chicago & Ohio R iv e r ...
Chicago & W est M ic h ...
*Cin. Jackson & M a ck ...
Cin. N. Orl. & T ex. P a c ..
Alabam a Gt. South’n ..
New Orleans &No. E ..
Vicksburg & Meridian
V icksburg Sh. & P a c .,.
Cin. Rich. & Ft. W ayne..
Cin. & Springfield...........
Cin. Wash. &’ Baltim ore.
Clev. Akron & C ol..........
Clev. Col. Cin. & In d ___
Clev. & M a rietta ............
Col. & Cin. M idland .......
Col. Hock. Val. & T o l. . . .
Denver & R io G ran de...
Denver & R . G. Western.
Detroit Bay City & A lp ..
Detroit Lansing & N o ...
Detroit Mack. & Marq ..
East Tenn. Va. & G a___
E vansville & Jndianap..
Evansv. & T. H aute.......
Flint & Pere Marquette.
*Florida R ’ y & Nav. C o..
Ft. Worth & Denv. City.
Georgia P acific...............
Grand Rapids & In d ___
Other lines.....................
Grand Tr. o f Canada___
Gulf Col. & Santa F e___
*Houst. & Tex. Central.
HI. Centr.—(111. D iv.)—.
“
(So. D iv.)— .
Ind’nap. Bloom. & West.
Indianap. Dec. & Spring.
Kan. City Ft. S. & G u lf..
Kan. City Sp. & Mem ...
Kan. City Clin. & Spring.
Kentucky Central...........
Keokuk & W estern.........
Lake Erie & W estern___
Lake Shore & Mich. S o ..
Lehigh & H u dson..........
*Little R ock & M em phis.
Long Isla n d .....................
Louisv. Evansv. & St. L.
Louisville & N ashville..
Louisv. N. Alb. & Chic.
Louisv. N. O. & Texas .
Marq. Houghton & O nt..
Memphis & Charleston..
{M exican Central...........
{M exican National.........
Mich. Cen. and Can. So.
Milw. L. Shore & West’n.
Milwaukee & N orthern..
Minneap. & St. L o u is ....
Minn. & Northwestern..
Miss. & Tennessee..........
Mobile & O h io.................
Nashv. Chatt. & St. L ...
N.Y. Cen. & Hud. R iv ..
N.Y. Ontario & W est’n.
Norfolk & W estern.........
Northern P a c ific ............
Ohio & M ississippi........
Ohio R iv e r ___ ~7............
Ohio Southern.................
*Ore. R ’y & Nav.' Co........
Peoria Dec. & E v an sv...
Pittsburg & W estern___
Richm ond & D an v ille...
Va. Mid. D iv .................
Char. C. & A. D i v .......
Col. & Greenv. D iv ___
West. Nor. Car. D iv . . .
Ash. & Sp. D iv .............
§St. L. A. A T . H .m . line.
Do
(branches).
St. L. Ark. & T ex a s.........
St. Louis & S. Francisco.
St. Paul & D uluth..........
St. Paul Minn. & M a n ...
Shenandoah V alley........
Staten Island Rap.”Tran.
Texas & P a c ific ..............
Tol. A. A. & Nor. M ich..
Tol. & Ohio C entral.......
Tol. Peoria & W estern ..
W heeling & Lake Erie .
Minn. St. Cr. & W is. ..
^W isconsin & M in n ...
1887.
1886.
$
$
2,607,767 I 1,573,388
2,812,654 I 2,573,221
2,000.405 1 1,445,612
3,005,962
2,933,309
760,248
658,815
1,478,404
740,698
11,597,672 10,081,802
6,414,387
5,900,898
1,352,532
1,323,625
1,998,178
1,713,325
1,092,525
937,530
2,194,783
1,677,046
2,058,307
1,782,200
25,366,167 24,718,403
66,271
73,399
1,408,195
1,395,979
466,886
401,222
3,377,551
2,882,171
1,575,816
1,215,195
711,782
661,236
558,690
524,298
608,007
522,873
414,758
383,585
1,183,684
1,130,324
2,216,395
2,010,406
561,092
542,916
4,580,969
4,184,117
309,579
274,520
334,153
319,552
2,716,779
2,361,403
7,978,586
6,738,079
1,173,808
1,051,900
466,667
242,017
1,142,713
1,226,531
413,781
289,866
5,298,736
4,283,211
234,814
196,771
868,937
759,379
2,563,077
2,160,773
1,061,888
966,251
717,635
445,481
1,254,424
844,544
2,351,435
2,098,127
176,253
47,542
18,063,009 17,153,225
2,928,277
2,274,171
2,807,142
2,932,259
7,489,139
6,707,606
4,311,065
4,068,581
2,616,223
2,542,809
411,634
449,098
2,711,856
2,524,380
2,033,205
1,561,416
259,497
235,560
1,074,590
920,697
322,180
307,419
1,973,502
1,707,873
18,675,464 15,859,455
228,423
219,039
823,300
749,462
3,239,485
2,994,627
1,008,044
839,955
16,026,181 13,978,734
2,246,978
1,881,260
2,213,233
1,803,782
1,061,278
983,215
1,740,469
1,444,638
4,879,524
3,857,706
1,777,491
1,743,450
14,140,000 12,295,828
3,175,077
2,317,801
972,025
646,226
1,505,098
1,549,619
1,504,557
540,092
510,529
445,985
2,485,232
2,224,459
2,400,772
3,055,917
36,296,024 32,651.015
1,548,580
1,338,385
4,219,711
3,252,058
13,846,640 12,329,552
4,124,075
3,827,831
330,316
195,465
595,443
508,757
5,164,398
5,211,920
858,540
814,746
2,034,820
1,597,629
4,446,214| 4,060,225
1,650,315
1,566,330
860,981
783,443
564,456
610,324
682,140
535,965
77,105
41,382
2,205,794
1,876,495
958,765
803,991
2,686,157
1,818,406
6,215,579
4,874,627
1,687,156
1,558,086
8,745,227
7,427,339
904,640
740,654
788,313
852,581
6,043,924
6,197,688
380,252
529,48
1,079,554,
838,454
882,295
954,725
6,473,459
5,579,219
588,114
744,169
1,565,312
2,113,516
301,244
511,709
296,626
199,738
Increase. 1Decrease.
$
1,034,379
239,433
554,793
72,653 !
101,433
737,706
1,515,870
513,489
28,907
284,853
154,995
517,737
276,107
647,764
$
7,128
12,216
65,664
495,380
360,621
50,546
34,392
85.134
31,173
53,360
205,989
18,176
396,852
35,059
14,601
355,376
1,240,507
121,908
224,650
83,823
123,915
1,015,525
38,043
109,558
402,304
95,634
272,154
409,880
253,308
128,711
909,784
654,106
781 533
242,484
73,414
125,117
37,464
187,476
471,789
23.937
153,893
14,761
265,629
2,816,009
9,384
73,838i
244,858
168,089
2,047,447
365,718
409,451
78,063
295,831
1,021,818
34,041
1,844,172
857,276
325,799
964,465
64,544
260,773
655,145
3,645,009
210,195
967,653
1,517,088
296,244
134,851
86,686
44,521
47,522
43,794
437,191
385,989
83,985
77,538
146,175
35,723
329,299
154,774
867,751
1,340,952
129,070
1,317,888
163,986
64,268
153,764
149^236
241,100
72,430
894,240
156,055
548,204
210,465
96,888
Total (110 road s).... 360,259,567 316,046,237 44,604,773
44,213,330
Net increase.....................
* Including only three weeks o f December in each year,
1 M exican currency.
§ Including Indianapolis & St. Louis.
ITN ot including Chic. Wis. & Minn.
45,868
391,443
J a n u a r y 14, 1683.]
[From our ow n correspondent.]
L o n d o n , December
31,1887.
Business during the past week has partaken more or less of
a holiday character. A general balancing of accounts has
been in order, and at the same time the Christmas holiday 8
have been a hindrance to fresh dealings; but the position,
both commercially and financially, can not be said to have
varied in any appreciable degree.
The political incertitude has been brought more prominently
into notice. The discussion about the relations between
Germany and Austria and Russia has more than once entered
upon an angry phase, and the difficulties have been accentu
ated by the persistent circulation of unfavorable reports
respecting the health of the aged Emperor o f Germany.
This increase of tension is to be deplored, and unless it be
relaxed the advent of spring will be regarded with fore
boding. Thus far, however, the Stock Exchange has been
the only institution which has suffered from these reports,
and it is not unlikely that the war clouds may be soon dis
persed, as they have so frequently on like occasions in the
past.
Money has been in strong demand during the week. Had
it not been for the opportune disbursement of the amount of
the matured, but unrenewed, Treasury bills—£635,000—it is
quite possible we might have had, contrary to expectations, a
sharply defined stringency. As it was, at one time as much
as 5 per cent was required for loans, but the charge has since
declined to 9% per cent. The inquiry may now be said to be
almost over, and as at the end of next week we shall have the
dividend money on the market, a return of ease may be
looked for; but whether any reduction in the Bank of Eng
land rate of discount will follow w ill depend upon the
German demand for gold, which is still unsatisfied. While
loanable capital has been' wanted, the discount market has
remained very weak, three months’ bills being taken at 2%
per cent. The changes in the Bank of England return
merely reflect the movements usual in money at. the holiday
season. The stock o f bullion has been reduced £561,275, of
which about £170,000 went to Berlin, leaving a liberal balance
to be absorbed by internal requirements. Note circulation
has increased £138,720. There is an actual diminution in the
reserve of £699,995, and the proportion to liabilities, which
last week stood at 44*92 per cent, is now lowered to 43‘H per
cent,
The following return shows the position of the Bank of
England, the Bank rate of discount, the price of consols, &c.,
compared with the last three years :
Circulation, excluding 7-day and
other bills.....................................
Public deposits.......................... .
Other deposits.................................
Government securities...................
Other securities....................... .......
Reserve of notes and coin.............
Coin and bullion............................
Reserve to liabilities.... .................
Bank rate .......................................
Consols............................................
Clearing-House return...................
by the holidays. Cash prices have been quite up to the level o f
last week, and for arrival from 3d. to 6d. per quarter more has
been asked, but quotations are still below last year. The
average for the past week was only 30 s. per qr., or 3s. Id. per
quarter below what it was for the corresponding week of 1886,
when the quotation was 33s. Id. per quarter, while for the
completed portion o f the season there is a difference against
this year of Is. 6d. per quarter, the average being 29s. lid .,
against fils. 5d. per quarter. A good deal has therefore to be
done before we can place ourselves on a par with last year.
At the date of last harvest it was generally anticipated that
we should have been more advantageously placed at the close
of the year than we are now; but our expectations have been
only partially realized, notwithstanding the fact that statistics
this season have all along favored the assumption that prices
this year would be higher than last. But a third of the cereal
year is now completed, and during that period we have dis
posed of 236,000 quarters more home-grown produce than in
the corresponding period o f 1886, accepting an average price
o f Is. 6d. per quarter less. The farming interests, therefore»
must have further suffered; but they may yet have the oppor
tunity o f disposing of the remainder of their crop at more
remunerative prices, and possibly the current cereal year may
end more advantageously than that of 1886-87; judged from a
statistical point of view some such result should certainly be
attained.
The following shows the imports of cereal produce into the
United Kingdom during the past 17 weeks of the season, and
other items compared with last year:
IMPORTS.
1887.
1886.
1885.
1884.
W heat................... cw t. 16,557,257 16,357,587 18,956,074 16,202,375
B arley........................... 6,668,375
8,727,282
5,264,589 6,856,840
O a t s ............................ 5,874,866
5,956,164
4,114,850 4,037,560
P eas............................... 1,225,607
785,504
799,548
807,005
B eans............................
796,270
830,340
1,172,424 1,309,759
Indian c o m ................. 7,617,569
7,758,768
8,387,675 5,870,627
F lour............................. 6,261,392
5,061,977 4,295,457
4,933,840
Supplies available for consumption (exclusive of stocks on
September 1):
1887.
Im ports o f wheat.cwt. 16,557,257
Im ports o f flo u r _____ 6,261,392
Sales o f hom e-grown. 15,169,912
1886.
16,357,587
5,061,977
12,950,551
1885.
1884.
18,956,074 16,202,375
4,295,457
4,933,840
15,240,168 16,561,851
T o ta l....................... 37,988,561 34,370,115 38,491,699 37,698,066
1887.
1886.
1885.
1884.
Aver, price w heat..........week. 30s. lOd. 33s. l i d . 30s. 2d. 31s. 5d.
Aver, price w heat....... season. 29s. l i d . 31s. 5d. 30s. l i d . 32s. Id.
E n s lis h
F in a n c ia l
U a i K e l i - P e r C a b le .
The daily closing quotations for securities, &c., at London,
are reported by cable as follows for the week ending Janu
ary 13.
Mon.
Sat.
London.
Tues.
Wed.
Thurs.
Fri.
447,6
445,6
Silver, per o z ................d. 44516 4413
449x6 44%
Consols for m oney.......... 1031x6 1033,6 1031x6 10213,6 10213,6 1021%«
1887.
1886.
1885.
1884.
10215,6
10215,6
10213X6
1033x6
Consols for account........ 1031s 10314
Fr’ ch rentes (in Paris) fr. 81-4213 81-2712 81-15 81-00 81-02% 81-10
£
£
£
£
S. 4% s o f 1891........... IIOI4 11014 IIOI4 110% 110% 110%
24,060,820 24,436,670 24,513,110 25,037,210 U.
129%
U. S. 4s o f 1907............... 128% 128% 128% 128% 129
5,462,754 4,363,049 4,001,712 9,104,828 Canadian P acific............ 63 78
635s
633s
64
6378
63%
22,367,663 24,138,160 25,053,105 24,947,161 Chic. Mil. & St. P a u l.... 77%
7938
78%
78%
78%
78 7a
29%
29%
29%
29%
29%
14,010 589 13,132,151 12,046,949 13,162,619 Erie com m on stock ........ 29
121
121
121
121
19,525,957 23,067,109 23,427,505 27,304,339 Illinois Central................ 120% 121
56
56%
55%
55 %
5578
55%
12,058,061 10,133,419 11,352,118 11,408,286 Pennsylvania ............... . 335s
343s
33%
34%
3414
34%
Philadelphia & Reading.
19,918,881 18,820,089 20,115,228 20,695,406 New Y ork Central........... 112
111% 112
11178 x l l O % 110%
43-11 p. c. S5?ép.c. 38*6 P- c. 33*é P-•.
5 p. c.
4 p. c.
4 p. c.
5p.<.
101 13-16 100*6 xd
99*6 X d
99 x d
86.046,000 79,103,000 106,899,000 92,038,000
I m p o r t s a n d E x p o r t s f o r t h e W e e k . —The imports of last
The only new capital creation for the week has been that
offered for sale by Messrs. Brunton Bourke & Co., of £167,300
City of Toronto Four per cents, 40 year debentures, the price
of issue being 99% per cent. The actual capital creations for
the year have been about £98,000,000, against £101,000,000 in
1886.
Copper has maintained its value, Chili bars ruling about £85
cash. Paris appears to have become rather excited over the
operations of the syndicate, and there have been clamors for
official interference, as trade promises to suffer. The Paris
house of the Rothschilds and the Comptoir d’Escompte now
deny being interested in the matter, but whoever are manipu
lating the market, it is very evident that they are well sup
plied with capital.
The ship-building yards of the Clyde turned out 185,326
tons last year, against 172,440 tons in 1886. This is an increase
of 12,922 tons, but shows a falling off o f 8,000 tons compared
with 1885. The work on hand is now 206,041 tons, or about
90,000 tons more than last year.
The severe weather has not beennvithout influence upon the
wheat trade, notwithstanding that business has been checked
65
THE CHRONICLE.
(g&qramjeKcialand llltscsllatuxws J|jews
week, compared with those of the preceding week, show
a decrease in both dry goods and general merchandise.
The total imports were $7,856,565, against $8,775,222 the pre
ceding week and $7,475,838 two weeks previous. The exports
for the week ended January 10 amounted to $6,680,795,
against $6,025,868 last week and $6,025,001 two weeks previ
ous. The following are the imports at New York for the;
week ending (for dry goods) January 5 and for the week
ending (for general merchandise) January 6 ; also, totalssince the beginning of the first week in January :
FOREIGN IMPORTS AT NEW YORK.
F or Week.
Dry G ood s— ..
Gen’l m er’d ise ..
1885.
1
$2,668,890!
6,105,187]
1886.
1
1887.
1
1888.
$1,689,3241
5,647,674]
$2,450,2221
6,147,832]
$2,344,625
5,511,943-
$8,774,0771
$7,336,998!
$8,598,054]
$7,856,568
Since Jan. 1.
Dry G o o d s ......
Gen’l m er’d ise..
$2,668,890
6,105,187]
$1,689,324
5,647,674]
$2,450,222
6,147,8321
$2,344,625
5,511,943
Total 1 week ..
$8,774,077f
$7,336.998'
$8,598,054'
$7,856,568
In our report of the dry goods trade will be found the im
ports o f dry goods for one week later.
The following is a statement of the exports (exclusive o f
specie) from the port of New York to foreign ports for the
week ending January 10, 1888, and from January 1 to datet
THE CHRONICLE.
66
EXPORTS FROM NEW YO RK .
1885.
F o r the w eek ....
P rev . reported..
T otal 1 w e e k ...
1886.
$8,034,919
1
$5,670,8391
$8,034,919
$5,670,839
g a tx M iig
1887.
$6,680,795
$5,982,469'
Exports.
Im ports.
Since Jan. 1.
Week.
Since Jan. 1,
G reat B ritain.............
F rance.........................
G erm any.....................
W est Indies................
M e x ic o ..... ...................
South A m erica ..........
A ll other countries...
$ .......
3,544
$ .........
$ ........
48,636
$ .......
48,636
79,000
79,100
5,409
5,409
Total 1888...........
T ota l 1887............
T ota l 1886............
$84,644
14,511
1,300
Silver.
2,000
$79,100
14,511
1,300
Exports.
Week.
858
3,150
858
3,150
$58,053
2,198,621
537,851
$58,053
2,198,621
537,851
Im ports.
Since Jan. 1.
Great Britain..............
F ra n ce .........................
Germ any.....................
W est In d ies................
M e x ico.........................
South Am erica...........
A ll other countries...
$272.850
7,000
1,126
3,076
i.ji.26
Total 1888...........
T otal 1887...........
Total 1886..........
$284,052
177,300
370,227
$280,976
177,300
506,277
$272,850
7,000
Week.
a tifl fT it r a n u ia L
HARVEY
FISH
&
SONS,
BANKERS,
$6,680,795
$5,982,469
EXPORTS AND IMPORTS OF SPECIE AT NEW YORK.
Week.
XL\ I
1888.
j
The following table shows the exports and imports of specie
■at the port o f New York for the week ending January 7, and
since January 1 and for t he corresponding periods in 1887
and 1886.
Gold,.
[ V ol.
28 N ASSAU STREET, N E W YORK.
ACCOUNTS o f BANKS, BANKERS, CORPORATIONS, M erchants
and individuals received subject to demand draft. Interest allow ed on
balances.
Our business in this department is steadily increasing. M any having
funds awaiting investm ent find it a convenience to let them lie w ith us
drawing interest while deciding upon what securities to buy.
$
1
0
0
,
0
0
0
.
SA R A T O G A , N. Y ., GAS & E E . E I G H T CO.
2 0 Y e a r G o ld 6 p e r C e n ts. C a n n o t b e D r a w n .
Net earnings....................
$41,367
Interest charge..................................... IS,000
Surplus..................................................$23,307
Since Jan. 1.
$ .........
$ .........
3,S93
2,024
790
3,893
2,024
970
225
’ *225
$6,932
39,035
8,219
$6,932
39,035
8,219
Of the above imports for the week in 1888, $8,658 were
American gold coin and $572 American silver coin. Of the
■exports during the same time, $81,100 were American gold
coin.
United States Sub-Treasury.—The following table shows
the receipts and payments at the Sub-Treasury in this city, as
w ell as the balances in the same, for each day of the past week :
FOR SALE BY
C O F F I N
&
S T A N T O N ,
BANKERS,
11
WALL
SUPERIOR
STREET,
SERVICE
NEW
TO
YORK.
THE
WEST.
Im portant changes and im provem ents for the benefit o f travelers
have been introduced on the Vanderbilt System o f Railroads, o f w h ich
the initial line out o f New Y ork is the G R E A T F O U R -TR AC K
NEW YOR K
C E N T R A E & H UDSON R I V E R
R A IE R O A D .
T H E F A M O U S V E S T IB U L E D N E W Y O R K A N D C H IC A G O
L IM IT E D
leaves Grand Central Station, New York, daily at 9:50 A. m ., and arrives
in Chicago same hour next day. This is the fastest and the only steam heated train to the West. The novel features are the Dining Car, B arber
Balances.
Shop, Bath-room and Library.
Date.
Receipts.
Payments.
Coin.
Coin Cert’s . Currency.
I F 3 THE NEW Y O R K STATE AND P A CIFIC E XPRESS leaves
Grand Central Station at 10:30 a . m . daily, except Sunday, with draw
ing-room and sleeping cars to Albany, Utica, Syracuse, Rochester, B u f
$
$
$
$
$
Jan. 7
591,794
1,136,735" 131,384.359 15,238,630
9,642,767 falo, Niagara Falls, Detroit, Cleveland, Cincinnati, Indianapolis and
“
9
1.154.96L
1,609,973 131,369,247 14,704,757
9,736,740 Chicago.
“ 10
1,280,743
1,146,994 131,429,077 14,629.161
9,886,256
I F “ THE b e s t a p p o i n t e d e v e n i n g t r a i n t o t h e w e s t
" 11
1,328,963
1,213,022 131,614,680 14,388,818 10,056,937 leaves Grand Central Station at 6:00 p . m . daily, serving dinner in
“ 12
1,331,727
1,481,106 131,818,613 13,962,516
9,129,928 dining car equal to a first-class restaurant, and with new sleeping cars
« 13
1,420,912
1,836,520 131,935,872 13,327,687 10,231,889 through to Cincinnati, Indianapolis, St. Louis and Chicago b y b o th
the Lake Shore and the Michigan Central Routes.
T■-----ota l»
7,109,100
8.424.350
—
I F " THE FAST N IGH T EXPRESS LEAVES Grand Central Station
—Messrs. Maitland, Phelps & Co. offer at 102J^ and accrued at 11:30 p . M. daily, with through sleeping cars, giving an entire even
ing
in New York, making over tw o hours quicker time than heretofore.
interest the 5 per cent 40 year gold bonds of the reorgan Sleeping
cars can be occupied at any time after ten o ’clock in evening,
ized New York City & Northern Railroad.
They have and run to Chicago, Cincinnati, Indianapolis, St. Louis, D etroit, Cleve
already placed some $600,000 of these bonds abroad and offer land, Buffalo, etc.
I F * A ll fast express trains leaving from, and arriving at, Grand Cennow the balance of $400,000 on a road 57 miles long, running
on 42d St., excepting the “ New York and Chicago Lim ited,”
directly out of New York City by its own bridge over the Har traTStation
now stop at the U ptow n Station on 138 th St ., N e w Y o k k .
lem River, with lines reaching Brewster's, on the New York
Ticket Offices:—413, 785, 942 Broadway, 12 Park Place, 7 Battery■& New England Riad, and the City of Yonkers, on the Hud Place, Grand Central Station, 138th Street Station.
son River.
H E N R Y M O N E T T , Ge n ’l P a s s e n g e r A g e n t ,
—The Phoenix Insurance Co. of Hartford, Conn., publishes
its 67th annual statement on the last page o f the C h r o n i c l e
to-day. This statement shows the large assets available for
fire losses of $4,778,469, with a cash capital of $2,000,000. The
New York Branch office is at 158 Broadway, Mr. Geo. M. Coit, C IT Y O F SUD A L IA , M O., W A T E R CO M PAN Y
resident agent.
TW E N T Y-YE A R
—Messrs. N. W . Harris & Co., o f Chicago, offer in this num
ber of the C h r o n i c l e , under “ Banking and Financial,” a
number of bonds of flourishing Western cities; also of W yo
S I X
P E R
C E N T
ming Territory—these bonds bearing interest at various rates
from 4% to 6 per cent.
C ity o f C le v e la n d 4 k s .
—The St. Paul Minneapolis & Manitoba Railroad has
C ity o t J o li e t , 111., 5 s .
declared the usual quarterly dividend of 1% per cent on the
C ity o f M in n e a p o lis 4 k s .
capital stock, payable February 1st.
C ity o f C h ip p e w a F a l l s , W i s . , 5 s .
Auction Sales.—The following were sold this week at
C ity o f M a n h a t t a n , K a n . , 6 s .
auction by Me ssrs. Adrian H. Muller & Son :
$ 1 0 0 ,0 o o
Bonds.
$1 9,00 0 Carolina Cent. R R . 2d
M. incom e, 1 9 1 5 ............ 20
$ 2 3 ,0 0 0 R om e & Decatur RR.
Co. 1st M., 6s, 1 9 2 6 .......
30
$ 3 0 0 N. Y . L. E. & West.
R R . Co., 6s, gold income,
1977...............................
59
$1 ,0 0 0 City o f N ew York
(N. Y. Bridge), 7s, 1902.140
$ 5 00 N. Y. City 7s, 1 9 0 9 .... 144
$ 5 0 0 N. Y. Citv 7s, 1 8 9 2 ....1 2 6
$1 0,00 0 Long Island City 7s,
coup. W ater b o n i, 1901.116
$ 1 2,50 0 City o f Elizabeth, N.
J., 4s, 1922 .................... 83*2
$ 1 ,0 0 0 City o f Elizabeth, N.
J „ deferred coups, from
adjust, bonds, 1905....... SS5^
Shares.
30 0 Rom e & D ecatur RR. Co..
56c. per stare
20 0 East & West R R . o f A la
bam a................... $2 30 per share
7 5 Commercial Telegram Co.,
p r e f.................................... 30
Shares.
15 Chemical National Bank.
3,306 to 3,310
100 Bank o f Am erica. 173% to 174
50 Bank o f Com m erce.........164
300 Westchester Fire Insur
ance C o ............................ 130
4 New York & Perry Coal &
Iron C o ........................... 42
4 M etropolitan Nat. Bank
(45 per cent pai.1)........... 17*2
20 H ow e Manufacturing Co. 35
25 Brush E lectric 111. C o.. 92
14 Bank o f A m erica............170*2
50 Second Avenue RR. Co 109
50 Second Avenue RR. C o.. 109
30 Third Avenue RR. Co .. 220
160 Am eran Loan & Trust
C o ..............................10 0-10 0ig
5 Mutual Gas-Light Co . . . 90
15 Importers’ & Traders’ Na
tional B ank.................... .334
30 H oward Insurance C o ... 64*2
10 Hand Pow er Test Co. .$10 p. sh
C ity o f S t. C lo u d , M i n n ., 6 s .
C ity o f L i m a , O h io , 5 s.
C ity o f S p r in g V a lle y , 111,, 6 s .
Y o r k v l l l e , 111., 6 s .
W y o m i n g T e r r ito r y 6 s .
C r a w fo r d C o u n ty , 111., 6 s .
D a w e s C o u n ty , N e b ., 6 s .
B a s t T a w a s , M i c h ., 6 s .
FO B
SALB .
SEND FOR OUR JA N U A R Y BOND CIRCULAR.
N. W . H A R R IS & CO., B an k ers.
11 T -l 1 7 M o n r o e S t .,
*
C H IC A G O ,
5 6 D e v o n s h ir e S t.
BOSTON
THE CHRONICLE.
J ANC AB Y 14, 1888.]
I p a t t k m ' (S a e t t e *
D I V I D E N D S i
The follow in g dividends have recently been announced :
When
P er
Cent. Payab le.
Name o f Company.
R a ilr o a d s .
Central Ohio (com. and p r e f.)___
H u m irg don & Broad Top, p r e f...
Mine Hilt & Schuylkill H a ven ___
New London Northern (q u ar.)___
Pittsburg & Lake E ie ........ ...........
St. Louis & San Fran., 1st p re f....
St. Paul & Northf ru Pac. (quai.).
St. Paul Minn. & M in . (q u ar.)___
Terre Haute & In d ian ap olis.........
Bank.
Seaboard N ational...........................
In su ra n ce.
B roadw ay..........................................
F a r r a g u t ......................................
Home“ . . ......................................... .
K ings C ounty...................................
N ew York E quitable.......................
P a cific....... ............. ............................
M is c e lla n e o u s .
Cliartiers Valley Gas (quar ) .......
Philadelphia Co. (m onthly)..........
Quicksilver Mining, p r e f ...............
3
2^2
i%
3
3%
1*2
1*2
2*2
t3
Feb.
Jan.
1 JaD. 15 to Jan. 31
31 Jan. 21 to Jan. 30
Jan. 16
Jan.
2
January
Feb. 10
Jan. 16
Feb.
1
Jan. 12
Febru’ry
3
Jan.
6
5
5
10
5
6
3*2
Feb.
2*2
1
2
Jan.
Jan.
Feb.
B ooks Closed,
(Days inclusive.)
Jan. 4 to Jan. 16
Dec. 29 to Jan. 2
Jan. 22 to Feb. 1Ò
Jan. 13 to Jan. 16
Jan. 19 to Feb. 1
14 Jan. 11 to Jan. 15
1 Jan. 25 to Ja n
31
26 Jan. 17 to — ^-----25 Jan. 16 to Jan 24
1 Jan. 24 to Feb. 1
* E rror last week as 1% per cent.
1 Previously credited to 8t. L. Van & T. H.
W A L L S T R E E T , F R I D A Y , J a n . 1 3 , 1 8 8 8 - 5 P. M .
The Money Market and Financial Situation.—The past
■week has been marked by a very quiet tone in speculative cir
cles, but a steady demand for bonds at rising prices. The
Reading strike is not a gratifying event with which to open
the new year, and unquestionably the market would be much
benefitted by its termination; but on the other hand it is quite
a local affair and is scarcely as threatening as the coal handlers’
strike of January last year, which was so soon ended.
A good deal of confidence in railroads is shown by the lively
bond purchases at the Board, as there has not been a more
healthy spurt of business for months past. If there is one feature
o f this more noticeable than another it seems to be the pro
nounced inquiry for the 6 per cent mortgage bonds of roads
earning their interest, where such bonds have been selling from
90 to par or a trifle over, and also for some low-priced 4 per
cents, such as Nickel-plate firsts. The demand for first mort
gage bonds of this sort appears to be directed with a good deal
of reason in all those cases where the roads have a fair prospect
o f holding their net earnings.
The Philadelphia & Reading report issued this week gives
more precise information about the traffic and earnings of the
year ending Nov. 30 than had previously been made public. It
appears that the actual net earnings of the Railroad and Coal &
Iron companies were $12,430,053 and the annual fixed charges
of the reorganized company are stated at $7,802,162. The re
port gives a table of net receipts for eight years past, exclusive
of the Jersey Central business, which is certainly a fair indica
tion of what the company can d o ; and the average net receipts
annually of the Railroad and Coal & Iron companies in those
eight years were $9,757,311.
The open market rates for call loans during the week on
Stock and bond collaterals have ranged from 3 to 5 per cent,
and to-day the rates were 3J@4| per cent. Prime commercial
paper is quoted at 5£@6 per cent.
The Bank of England weekly statement on Thursday showed
a gain in specie of £245,000, and the percentage of reserve to
liabilities was 40-16, against 38*09 last week; the discount
rate was reduced from 4 to 3£ per cent. The Bank of France
lost 6,475,000 francs in gold and 5,450,000 francs in silver.
The New York Clearing House banks in their statement of
January 7 showed an increase in surplus reserve of $2,267,575,
the total surplus being $10,826,725, against $8,559,150 the
previous week.
The following table shows the changes from the previous
•Week and a comparison with the two preceding years in the
averages of the New York Clearing House banks:
1888.
Jan. 7.
Diffr'nc's fr'm
Prev. Week.
1887.
Jan. 8.
1886.
Jan. 9.
$
$
$
$
Loans and disc’ts 360.070,500 In c. 3,530,500 348,479 300 339,873,700
Specie..................... 75,235,400 tne. 4,096,100 85.509.200 93,082,100
C irculation............
8,089,900 I n c .
12,600
7.896,800
9.854,800
Net deposits.......... 3 7 1 .3 0 ,9 0 0 I n .11,946,100 370,138,900 383,' 97,600
L egal tenders....... 28,417 »00 I n c .1,158,000 21.812.200 31,117,700
Legal reserve....... 92,826.475 I n o .2,988.525 92,534,725 95.849.400
R eserve held......... 103,653,200 Inc .5,254,100 107,321,400 124,199,800
Surplus...................
10,826,725¡Inc .2,267,575
14,786,675
28,350,400
Exchange.— Sterling exchange has been moderately active
and at times the demand was brisk. Commercial and other
bills having been scarce, and the supply not equal to the
demand, rates ruled very strong and were advanced early in the
week. Posted rates were twice advanced— Jc. each time— and
were quoted at 4 85 and 4 88 until Thursday, when the reduction
67
in the Bank of England rate of discount to 3$ per cent caused,
a corresponding reduction in the short rate for sterling here;,
and to-day rates for both long and short were reduced ^c..
owing to a pressure of bills and a falling ofi in the demand.
Posted rates to-day are 4 84^ and 4 87.
To-day the rates on actual business were as follows, viz. *
Bankers’ 60 days’ sterling, 4 84@4 8 4 demand, 4 86^@4 86f .
Cables, 4 87@4 87£.
Commercial bills were 4 8 2 f@ 4 83;
Continental bi}ls were: Francs, 5 22^@5 23£ and 5 20<g^
5 20f; reichmarks, 95@95$ and 95£@95£; guilders, 40^©*
40J and 40f @40^.
The following were the rates of domestic exchange on New
York at the under-mentioned cities to-day: Savannah, buying
J discount; selling £ discount@par; Charleston, buying
3-16 discount; selling par; New Orleans, commercial, 50c..
discount; bank, par; St. Louis, 90c. premium; Chicago, 70c.
premium.
The rates of leading bankers are as follow s:
Janu ary 13.
Sixty Days.
Demand.
Prime bankers’ sterling bills on L on d on ..
4 31%
4 87
Prime co m m e rcia l.................................. 4 8 ' % rb\ 83%
Documentary com m ercial............................ 4 82% « 4 82%
Paris (francs)......................... ..................... 5 22% ®5 21% 5 20 ®5 175g.
4031Q® 40% 40 3g® 407, «
Amsterdam (guilders)..................................
Frankfort or Bremen (reichm arks)...........
95% @ 95%
95% @ 95%
Coins.—The following are quotations in gold for various coins ^
Sovereigns............ $4 83
Napoleons............. 3 84
X X R eichm arks.. 4 74
X Guilders........... 3 96
Span’ll Doubloons. 15 60
Mex. D ou b loon s..15 55
par
Pine gold bars___
* Acw demonetized.
@ $4 87
@ 3 89
@ 4 80
@ 4 OO
@ 15 75
@ 15 65
@%prem,
Fine silver ba rs.. — 96% ®
97
F ive iran cs...........— 93 @ — 95
M exican dollars.. — 75 %@ — 76%
D o uncomm erc’l — 75 @ ------Peruvian sols....... — 74 @ — 75
English silver___ 4 8 o @ 4 85
U. S. trade dollars*— 74 @
......
United States Bonds.—Government bonds have been dul&
and transactions have been very limited. Prices have been
somewhat irregular; a slight declining tendency was noticeablein the early part of the week, but this was succeeded by a.
strong tone and the 4s and 4£s have improved a little. The 63are entirely neglected, though the bids are one point hi gher.
The closing prices at the N. Y. Board have been as follow s:
Interest Jan.
P eriods
7.
4%s, 18 91............reg.
4%s, 1 8 91.........coup.
4s, 1907................reg.
48, 1907............ coup.
6«, cur’c y ,’ 9 5 ___ reg.
68, cur’ c y ,’ 96___ reg.
6s, cur’c y ,’ 9 7 ___reg.
6s, cur’ cy, ’9 8 ___reg.
6s, cur’ c y ,’9 9 ___ reg.
Q.-Mar.
Ö.-Mar.
Ö.-Jan.
Q.-Jan.
J. & J.
J. & J.
J. & J.
J. & J.
IJ. & J.
*107%
*107%
*125%
*125%
*119
*121
*123
*125
*127
Jan.
9
Jan.
10.
*107% *107%
107% *107%
*125% 125%
125% *125%
*119 *119
*121 *121
*123 *123
*125 *125
*127 1*127
Jan.
11.
Jan.
12.
Jan.
13.
*107%
*107%
*125%
126%
*119
*121
»123
*125
*12 7
108%
108%
‘ 126%
*126%
'119
*121
*123
*125
*127
*108
*108
*126%.
*126%.
*120
*122
*124
*127
*128
* This is the price bid at the morning b o a rd ; no sale w as made.
State and Railroad Bonds.—There was a little activity in>
State bonds on Saturday last and again on Thursday, but at
other times the market was dull and featureless, and nothing
calls for special comment.
The activity and strength of railroad bonds has been the most
important feature in the financial markets of the past week.
The demand for bonds of all classes has been very brisk, and
the transactions have reached quite heavy totals each day.
The demand has not been of a speculative character, but ha£
extended to all kinds of bonds, and most of the bonds on the
list have had a greater or less advance in price. Some of the
highest-priced investment bonds have shared in this advanceas well as many of the lower-priced and usually more speculative
classes, and the 6 per cent bonds ruling under par or near par
have met with a particularly "good inquiry. This demand for
bonds, at advancing prices, is one of the most favorable features
of the markets, and is an indication of confidence in the future
prosperity of the railroads. The only conspicuous exceptionsto the general improvement have been the Missouri Kansas &
Texas bonds, which have been irregular and at times rather
weak.
Railroad and Miscellaneous Stocks.—The stock*market has
shown a fair degree of activity at times during the past week,,
though no special animation has been noticeable, except in a
few leading stocks, such as Lackawanna, Reading, St. Paul,
and, for a time, Louisville & Nashville. Outside of theseleaders speculation has been rather dull as a rule, and fluctu
ations have been slight. The undertone o f the market has
been strong, and except for the Reading strike there might
have been a more decided buoyancy.
There has been little news of importance, and none that
exerted very much influence on prices; but confidence is mani
fested by the large purchases of bonds of all kinds, at advancing
prices. The prevalence of the Reading strike is unsettling,
and has deterred purchasing to some extent. Reading itself
has fluctuated from day to day and has been quite irregular
though actually gaining a little over the price of last week.
Lackawanna ruled strong at times, as did also St. Paul on
buying reported to be for Chicago account, though neither
of these stocks has been conspicuously strong. Louisville &
Nashville had a sharp advance on Monday, on the declaration
of a 2 per cent stock dividend, but subsequently reacted and
the advance was lost.
68
THE CHRONICLE
[V O L . X L V I ,
STOCKS-PRICES AT N. Y. STOCK EXCHANGE FOR WEEK ENDING JAIN. 13, AND SINCE JAN. 1, 1888.
HIGH EST AND LOWEST PRICES.
STOCKS.
Saturday,
Jan. 7.
Monday,
Jan. 9.
Tuesday.
Jan. 10.
Wednesday,
Jan. 11.
Thursday,
Jan. 12.
Friday,
Jan. 13.
Q
rH
A c tiv e R R . S to c k s.
10% 10% *10% 10% *10% 10% 1 *10% 10%
10% 10% *10 %
A tlantic & P acific.....................
623s *61
*61
62
62%' *61
62
62% *61%
62%
Canadian Pacific........................ *61
56% 56% ' x55% 55%
56% 56% *56% 57
56% 56%
56%
Canada Southern......................
78%
77% 78% I 78% 78%
77
78% 79% 78
76% 77%
Central o f N ew Jersey............
32% 32%
32% 33
33%
32%
! 33
31
Central P acific...........................
81
4%
4%
*3%
4%
*3%
5
4%
4%
*4
*3%
5
Chesapeake & Ohio...................
8%
*8
8% '
9
7
8
%
8
'
*7%
7
8%
8
Do
1st p re f.
*5
5%
4%
5%
*5
4%
*5
! *5
*5
5%
5%
*
Do
2d p re f..
128% 128% 128% 128%
128
128% 128% 129 129
Chicago Burlington & Quincy. *127 128
75%
75% 77% 75% 76%
76% 77%
75% 76%
76% 76%
C hicago Milwaukee & St. Paul.
115
114%
115
114%
114%' 114% 115
:
i
i
4
%
n
s
113%
113%
Do
p ref.
j 108% 109% 108% 109% 108% 108% ’ 108% 109
Chicago & Northwestern......... 107% 108% 108%
141% 141% 142 142
‘140% 142
Do
pref. 142 142
111 % 112
Chicago R ock Island & Pacific. *111 112
111% 1123s 112% 112% 112 112% 112% 112%
14
14
14% *14% 15
14% 14%
*14
14
15
Chicago St. Louis & Pittsburg.
*38
40% *37% 39
*37% 40
*37% 39
Do
pref.
38
38
403s
39%
39% 40
39% 39%
Chicago St. Paul Min. & O m ...
40
40%
39% 40%
40% 40%
......
107 107
107% 107% 107% 107% 107% 107%
Do
p ref. *106% 107
*52
53%
52% 52%' *52
53
53
53
52% 52%
d e v e la n d Col.Cin.& Indianap.
53
53
*24% 25%' .........
25
25
24% 24%
25
25%
25
25
Columbus H ocking Val. & T ol.
Delaware Lackawanna & West 129% 130% 130% 131% 1 130% 130% 129% 130% 129% 130% 129% 130
23
23
*22
22% .........
*22
22% 22%
23
D enver & R io G., assessm’t pd.
54% 54%! *53% 54%
54% 54%
53% 53%
Do
pref.
10% 10%' 10% 10% *10% 11
10% 10%
10
10% * 10 % 10 %
East Tennessee Ya. & Ga. R ’y .
*60
63
*60
63
62
63
62
*60% 63
61% 611
Do
1st pref. *60
22% 2234 22% 22%' *22% 23
23
22 % 23
22% 22%
23
Do
2d p re f..
*88
90
*88
90
88% 88%
E vansville & Terre Haute.......
43
43% 42% 43
44% 44%
44%
45% 45% 43% 45%
F ort Worth & D enver C ity___
9%
9%
*9% 10
9%
*9
9%
Green B ay W inona & St. Paul.
8 % 8%
8%
117
117%
117%
117%
Illinois Central.......................... *116 117 *116% 118
118% 118%
117% 11734
*13% 14%
13% 13% *13
15
*13
14% *13% 15
Ind. Bloom. & West., ass. p d .. *13
15
30
Kingston & Pem broke.............. *28
*28
*28
15% 15%
15% 15%
15% 15%
15% 157¡
15% 15% 15% 15%
Lake Erie & W estern................
4 6 38 46% *46
46%
46
47
45% 46
46% 47
46
Do
pref.
47
95% 95%
95% 95% t93% 95%
95
95% 95% 95%
95% 95%
Lake Shore & Mich. Southern.
89
90
*90
90
89
91 «
89% 89%
89
89% 89%
L ong Island........................ ...... *88
62% 63%
62% 62%
64
62% 63%
62% 62%
62
62%
Louisville & Nashville............
63
39
39
*36
39
40
40
39
40
*36
40
*37
Louis. N ew Alb. & C h icago... *35
96
96
96
95
95
94
95
95
95%
95%
93
95
Manhattan Elevated, con sol..
53
52
53% *51
Memphis & Charleston............
86% 87
86% 86% *x84% 85
87%
87
87
M ichigan Central......................
86% 87% 87
*79
81% *78% "80
80
80
79% 80
80
80
*78
Mil. Lake Shore & W est.......... *78
103% *102 103%
103%
103 103
Do
pref. *100 103% 104 104
8%
9%
7%
8%
8%
*7%
8
8
9
8%
8%
*8
M inneapolis & St. L ouis..........
19
*16% 17% *16
17%
17
16% 16%
17% 17% *16
Do
pref.
17% 18
17% 18%
18
18%
18% 183r 18% 18%
Missouri Kansas & T exas.......
18% 18%
88% 88%
Missouri P a c ific .......................
88 % 89% 88% 89% 88% 89% 87% 88% 87% 88%
1 1 34 11% 12
11% 11% *11
10%
11
10
11% 11%
12
M obile & Ohio............................
77% 77%
80
79%
78
78% 79% 78% 78% *78% 79% *78
Nashv.Chattanooga & St.Louis
107% 107% 107% 107% 107% 107% 107% 107%
107% 107% 108
N ew Y ork Central & Hudson.
17
17
17% 17%
17% 17% *17% 17%
*17
17%
New Y ork Chic. & St. L o u is...
72
70
*68
70
70% 70% *70
70
*69
71
69% 69%
Do
1st pref.
36
*34
34% 35% *35
34
36
*34
32% 32%
34
36%
Do
2d p re f..
28% 29
28% 29%
28% 28%
28% 28%
28% 285s 28% 29%
New Y ork Lake Erie & West’n
65% 65%
64% 65%
*64%
63% 64
Do
p ref. *62% 62%
37% 38% 38
38%
38% 38%
38% 39%
38% 38%
N ew Y ork & N ew England___
37% 38
1738 17%
1838 17% 18
17% 17%
17% 18%
18
17% 18
N ew Y ork Ontario & W est___
93s
938
9%
9%
9%
9%
*9
9%
N ew Y ork Susq. & W estern...
9%
9%
9%
9%
3238 *32% 32%
32%
31
31% *31
32
32
31%!
31% 32
Do
pref.
16
16%
16% 16% *16% 16%|
17
16% *16
N orfolk & W estern...................
*16
43% 44% 44% 44% '
43% 44%
43% 44% 43% 44%
43
43%
Do
pref22% 22%
22% 23
*22% 23 I
Northern P acific........................ *22% 22% 22% 22%
47%
47
47% 47
47
47
47%
47
47%
47
47
Do
p ref.
47%
. I
243s 24%
*23% 24
23% 24%
24%
23% 24
Ohio & M ississippi................... *24
213s 21%
21% 22
21% 21%
21% 215(
21% 21%
Oregon & T rans-Continental.. *21% 21 %
*22%
23
22%
*
22
%
22%
22%
22%
23
23
*22
Peoria Decatur & Evansville.
65% 66% 65% 66%'
65% 66%
65% 66% 65% 66%
65% 65%
Philadelphia & R eading.........
2338 23%
233s 23%
22% 23%
23% 23%
R ichm ond & West P ’t Terminal 23% 23% 23% 23 7j
56
56
55 I 56
55
55% 57
*55% 57
56% 57
57
Do
p ref.
84%
843s 85
85% 85%
84
85
84
85
85% 85%
R om e W atertown & Ogdensb’g *83
36
36% 36%
36
36% *35% 37
36% 36%
36% 36%
St. Louis & San Francisco....... *34
72 I 71
72
71% 71%
71% 71%
71% 71%
71% 71%
71%
Do
pref.
115 115
114% 114% 113% 113% 115 115
Do
1st p ref. 113 114%, *113 115
62
*61
*61% 62
63 I 62% 62%
61% 61%
62
62
St. Paul & D uluth..................... *62
103 103 *102 104
101 101 *101 102%
Do
pref. 102 102
*110 111
St. Paul Minneap. & Manitoba. 110% 110% *110 110% 110% 110% '1103s i n
2534 26%
25% 25%
25% 25%
25% 26%
25%
25% 26
T exas & Pacific, ass. p d .......... *25
57% 57%
57% 57%
57% 58%
57% 57%
57% 58%
57% 58%
U nion P acific.............................
16
16
*15% 16%
*15
16
*15% 16
*15% 16
W abash St. L. & P acific............ *15% 16
28% 28%
29
28% 28%
*28
28% 28% *27% 29
Do
pref. *27% 29
53
53%
52
53%
53% 54¡% 52% 53%
52% 54%
W heeling & Lake E rie.............
53% 53%
m is c e lla n e o u s S to c k s.
36
36
*36
36%
35% 35% 35% 36%
36% 36%
36% 36%
Colorado Coal & Iron................
*75% 76%
76
76%
76
75% 76%
76
Consolidated Gas Co................ .......................
106%
105%
106
106%
106%
105%
106
105% 105%
Delaware & Hudson Canal___ 106 106% 106%
47% 48%
46% 47%
46
46
46% 46%
47% 47% 47% 48%
Oregon Im provem ent C o.........
91% 91%
92%
91% 92
91
90
90
89% 91
91% 92
Oregon R ailw ay & Nav. C o ...
37
37% *37
37%
36% 37%
36% 36%' 36% 37%
Pacific M ail.................................
37% 37%
.
101% 10134
102 102
103
Philadelphia Co., Nat. G as___ .................... |*100
141% 141% *140 141
141% 141% *140 141% 141% 141%
Pullm an Palace Car Co.......... 141 141
78% 78%
78% 78%
78% 79%
79%
W estern Union Telegraph___
77% 78% 78
78% 79
E x p re ss S to ck s.
*140 145 *140 145 *140 145
A dam s............ k . ............ ............ 144% 144% 143 143% *140 145
107% 107% *107 109
A m erican................................... 107 107 j 107% 108
M>714 107% 108 108
72
69
69%
39
*68
69
67% 67% 68% 69
United States.............................
68% 69
130 130 *126 131
126 131
Wells, Fargo & C o..................... 126 131 *126 131 *126 130
I n a c tiv e S to ck s.
72
70
70
72
72
72
72
*70
A m erican Tel. & Cable Co.......
94
94
93% 93%
t94% 96%
95% 95%
A tchison Top. & Santa F e .. . . .
135 135 *137 140
Chicago & A lton’. ...................... ' 1 3 7 139
135 140 *135 140 *137 139 1
76% 76%'
*75% 78
*75
Cincin. Ind. St. Louis & C h ic.. 76
77
76
4%'
*3%
*3%
*3%
4%
4%
4%
4%
*3%
Cincinnati Wash. & Baltimore.
3%
6
*5%
6%'
*4%
6
6
6
6%
6
6
Do
pref.
27
*20
27
*20
*20
*20
26
27
*20
27
H ouston & Texas Central.......
85
*75
84
84% 84% *70
85 Í 84
*75
85
M arquette Hough. & On., pref.
15
*14% 15% *1438 14%
15
M exican Central........................ *14% 14% *14% 15
138% 138%
Morris & E ssex.......................... 137% 137% 136% 136% 138 138% 138% 138%
102% 1023a 102% 102%
N. Y. Lack. & W estern............ 103% 103% 102% 102%
*11% 14
13
*11
*11
*11
13
12
12
12
Ohio Southern............................ * 10 % 12
16
16% 16%
16
Oregon Short Line...................
12% 13%
13%
13
13
10 % 11 % 10 % 12% 12
13
13%
Quicksilver M ining Co............
38%
37% 38%
37% 38%
37
37%
38
36% 37
37% 38
Do
p ref.
39
39
*36
*36
*37
40
37
39
St. Louis Alt. & Terre H a u te..
37% 37%
16%
16%
16
14
13% 14%
St. Louis Ark. & T exas............
10
10
*7
*7
^6
9
South Carolina............ .............
89% 89%
89 ' 89
Whitebreast Fuel Co................
89
89
28% 28%
29
29%
30
2938 28% 29%
Columbus & Hocking Coal___
27% 29
29
29
30
*29
30
Tennessee Coal & Iron ............ *28% 29%
30% 30%
30
30
30% *29
30
T a r i o u s S t o c k s . A c . (Uni is ted.
32% 33
31% 32%
Amer. Cotton Oil Trust.......... I 31% 31%
31% 32
31% 32%
31% 31%
93% 96%
95% 97%
95% 97
P ipe Line Certificates..............I 93% 94% 94% 97%
94% 96
* These are the prices bid and asked; no sale was made at the Board.
t L ow er price is ex-dividend.
Sales
o f the
Week,
Shares.
R ange Since Jan. 1 ,1 888 .
Lowest.
Highest.
4 10% Jan.
6 62% Jan.
13 56% Jan.
3 79% Jan.
7 33% Jan.
7
4% Jan.
4
8% Jan.
12 T4% Jan.
6 129% Jan.
4 77% Jan.
4 115 Jan.
4 109% Jan.
6 142 Jan.
6 112 % Jan.
4 14% Jan.
6 38% Jan.
4 40% Jan.
4 107% Jan.
7 53 Jan.
4 25% Jan.
5 131% Jan.
4 23 Jan.
4 54% Jan.
3 10 % Jan.
4 62 Jan.
3 23 Jan.
10 88 % Jan.
13 46% Jan.
4
9% Jan.
6 118% Jan.
12 13 7f Jan.
10
3
9
9
10
7
9
12
3
10
10
10
7
4
10
6
10
10
9
9
9
6
10
12
5
7
10
3
10
3
12
,745 15 Jan. 6 15% Jan.
,802 45% Jan. 3 47 Jan.
,601 93% Jan. 13 95% Jan.
970 89 Jan. 9 91 Jan.
42 ,184 60% Jan. 4 64% Jan.
200 39 Jan. 10 39 Jan.
,703 93 Jan. 13 96 Jan.
200 52 Jan. 9 53% Jan.
,942 86% Jan. 6 87% Jan.
400 79 Jan. 5 80 Jan.
145 103 Jan. 10 104% Jan.
9% Jan.
5% Jan. 3
650
500 16 Jan. 5 17% Jan.
,510 17% Jan. 12 18% Jan.
,515 87% Jan. 5 89% Jan.
,100
9% Jan. 6 12 Jan.
,000 76 Jan. 5 80 Jan.
,788 107 Jan. 4 108 Jan.
750 16% Jan. 4 17% Jan.
340 66% Jan. 4 70% Jan.
775 31% Jan. 4 35% Jan.
,645 27% Jan. 4 29% Jan.
,200 63% Jan. 9 65% Jan.
,612 36% Jan. 4 39% Jan.
,720 16% Jan. 4 •18% Jan.
9% Jan.
8% Jan. 4
,346
,500 29% Jan. 5 32% Jan.
400 16 Jan. 3 16% Jan.
,270 42% Jan. 4 44% Jan.
670 22% Jan. 4 23 Jan.
,748 45% Jan. 4 47% Jan.
,210 23 Jan. 5 24% Jan.
,035 20% Jan. 4 22 Jan.
310 22% Jan. 4 23 Jan.
,550 64% Jan. 4 66 % Jan.
,875 22% Jan. 4 23% Jan.
435 55 Jan. 6 57 Jan.
450 84 Jan. 9 85% Jan.
875 35% Jan. 6 36% Jan.
,824 71 Jan. 9 72 Jan.
188 113% Jan. 11 115 Jan.
610 61% Jan. 5 62% Jan.
310 100% Jan. 3 103 Jan.
400 109% Jan. 5 111% Jan.
678 24% Jan. 4 26% Jan.
266 57 • Jan. 4 58% Jan.
500 15% Jan. 4 16 Jan.
600 27% Jan. 6 28% Jan.
380 44% Jan. 3 54% Jan.
9
9
9
5
9
10
10
9
9
10
5
11
9
5
3
10
9
9
9
10
10
9
10
10
9
7
9
12
11
10
10
6
12
11
11
9
9
12
5
7
12
3
12
3
10
3
3
6
10
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
10
9
9
12
10
11
5
9
9
205 10% Jan.
100 61 Jan.
,520 55% Jan.
,210 75 Jan.
960 31 Jan.
200
4 % Jan.
7 Jan.
557
9
4% Jan.
,358 127% Jan.
4491 74 Jan.
929¡112% Jan.
22 4441106% Jan.
325 140% Jan.
418 111% Jan.
625 13 Jan.
100 38 Jan.
,470 39 Jan.
410 105% Jan.
634 52% Jan.
,350 23 Jan.
,545 128% Jan.
400 22% Jan.
550 53% Jan.
,218 10 Jan.
110 61 Jan.
918 21% Jan.
400 88% Jan.
,100 42% Jan.
,850
8% Jan.
,178 116% Jan.
10 13% Jan-
36%
76%
106%
48%
92%
37%
102
141%
79%
1.380 35
1,406 75
9,956 103
2,270 45%
5,015 89%
5.380 35%
270 101
71 140
52,627 77
Jan.
Jan,
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
4
3
3
5
5
6
4
5
4
43 143
1801106%
468 67
5129
I
209 70
235 93%
18 135
200, 76
300
3%
600
6
Jan.
Jan.
Jan.
Jan.
9 144% Jan. 7
3 108 Jan. 3
4 69% Jan. 13
4 130 Jan. 4
Jan. 12 7234 Jan. 6
Jan. 13 96% Jan. 10
Jan. 9 135% Jan. 4
Jan. 6 77% Jan. 5
4% Jan. 9
Jan. 9
6% Jan. 5
Jan. 9
83%
15
135
102%
12
15
10
33%
37
13%
Jan. 4 84% Jan. 7
Jan. 12 15 Jan. 12
Jan. 3 138% Jan. 10
Jan. 9 103% Jan. 6
Jan. 11 12 Jan. 11
Jan. 5 16% Jan. 11
Jan. 5 13% Jan. 12
Jan. 4 38% Jan. 10
Jan. 11 39 Jan. 11
Jan. 9 16% Jan. 12
200
20
288
425
200
160
13,635
3,455
700
2,467
300
5,900
1,240
88% Jan.
26% Jan.
27% Jan.
4
5
4
89% Jan. 13
30 Jan. 9
30% Jan. 10
19,600
29% Jan.
4
3
33 Jan. 13
97% Jan. 10
January
THE CHRONICLE.
14,1868.]
69
BONDS-LATEST PRICES OF ACTIVE BONDS AT N. Y. STOCK EXCHANGE, AND RANGE SINCE JAN. 1, 1888.
Closing.
Railroad Bonds.
Range since Jan. 1.
Jan. 13 Jan. 6
Lowest.
Highest.
Closing.
Railroad Bonds.
Jan. 13 Jan. 6
Range since Jan. 1.
Lowest.
Highest.
2638b. 26% Jan.
A tl. & Pao.—W. D. ino., 6s, 1910 26%
265s Jan. Mil. Lk.Sh. & W.—1st, 6s, 1921
120%a,
81
80 Jan.
Qaar., 4s, 1937..............
82
Jan.
Ashland D iv.—1st, 6s, 1925.
116 a 117% 11678 Jan. 117% Jan,
1063s
106
105% Jan. 107 Jan. Minn. & St. L.—1st, 7s, 1 9 2 7 ..
Can. South.—1st guar., 5s, 1908
105
105 Jan. 105 Jan.
923s
92%
92% Jan.
2 d ,5s, 1913.............................
92% Jan.
Im p. & Equip.—6s, 1 9 22.......... 60
53 b, 53 Jan.
55 Jan.
Central o f N. J.—1st, 7s, 1890 107%b 107%b. 107% Jan. 107% Jan. Mo. K .& T ex.—Con., 6s, 1920..
71
71%
70 Jan.
73% Jan.
112 b. 111% Jan. 114 Jan.
Consol. 7s, 1 8 9 9 ..................... 114
Consol., 5s, 1 9 2 0 ...................... 63
61%b, 61 Jan.
63% Jan.
Convert. 7s, 1902................... 115 b, 113 b. 115 Jan. 115 Jan.
Consol., 7s, 1904-5-6................. 105% 105% 105 Jan. 106% Jam
97 b.
Convert, deb. 6s, 1908.........
Mobile & OMo—New, 6s, 1927 .. 108 b 108%b. 108% Jan. HO Jan.
98
98 Jan.
G eneralm ort., 5s, 1 9 8 7 ....
98%
99 Jan.
1st, E xtension, 6s, 1927.......... 105 b
105% Jan. 105% Jan.
Leu. & W .B.,con.7s, 1909,as’nt 113%b. 113% 113% Jan. 113% Jan.
42 b. 45 Jan.
1st pref. debentures, 7 s ______ 45
46% Jan.
102
101% Jan. 102 Jan.
Am . D ock & Im p., 5s, 1921. .. 102
85
b.
Mutual
Un.
Tele.—8.
f.,
6s,
1911
86
84% Jan.
86 Jan.
Central Pacific—gold 6s, 1 8 9 8 .. 114 b. 113%b. 113% Jan. 114 Jan.
Nash. Ch. & St. L .—1st, 7s, 1913 128%b. 130%a. 128% Jan. 129 Jan.
San Joaquin Br. 6s, 1900......... 115%b.
11458 Jan. 114 °g Jan.
N.Y. Central—E xtend., 5s, 1893 105 b. 104%b. 104% Jan. 105 Jam
102
103%
102 Jan. 103% Jan.
Land grant 6s. 1890.................
N .Y .C .& H .—1st, cp., 7s, 1903 133 b. 132%b. 132% Jan. 133% Jan.
Mort. 6s, 1936............................ 103% 103%
102% Jan. 103% Jan.
Debenture, 5s, 19 04.............. L09 b. 109
109 Jan. 109% Jan.
Ches. & O.—Pur. m. fund 6s, ’ 98 106 b.
N .Y .& H ar.—1st, 7s, 1900....... 129 b. 129 b. 128% Jan. 130 Jan.
6s, gold, ser. B, 1908, coup, ofi 69 %b. . . . .
67% Jan.
67% Jan.
87
N. Y.CMc.&St.L.—1st, 4s, 1 9 3 7 .. 875s
86% Jan.
87% Jan.
65%b.i 68 Jan.
Exten. coup., 4s, 1 9 8 6 ............ 69%
70 Jan.
115
N.Y. Elevated—1st, 7s, 1906___114%
114% Jan. 117% Jan.
26
22%
22 Jan.
6s, currency, 1 9 1 8 ..................
26 Jan.
N. Y. Lack. & W.—1st, 6s, 1921. 1255sb. 125
127
Jan.
127
Jan.
91 b. 90% Jan.
Mort. 6s, 1911........................... 92%
92% Jan.
Construction, 5s, 1923............. 107%b. 10758b 1077s Jan. 108 Jan.
Cbes. O. & 8o. W.—5-6s, 1 9 1 1 .. 105 b. jv - i-r * 105 Jan. 105 Jan.
N. Y. & N or.—1st, 5s, 1927....... 103%
102 % 102% Jan. 103% Jan.
Chic.Bur. & Nor.—1st, 5s, 1926 102%b. !0 2 b. 102% Jan. 102% Jan.
N. Y. Ont. & W.—1st. 6s. 1 9 1 4 .. H O b. 109%b 109 Jan. 109% Jan.
Okie. Burl. & Q.—Con. 7s, 1903 129%b. 128 b. 129% Jan. 129% Jan.
923g
N.Y.Sus.&W.—Is tre f., 5s, 1937. 92%
91 Jan.
92% Jan.
Debenture 5s, 1 9 1 3 ................ 104%b. 105
“
104% Jan. 105% Jan.
Midland o f N. J.—1st, 6s. 1910 H I %b HO b
94
95
D enver D ivis., 4s, 1922..........
75 In
94 Jan.
95 Jan.
N. O. Pacific—1st, 6s, 1 9 20........ 76%
75%
Jan.
77
Jam
113
Chic. & East. 111.-Con. 6s, 1934 114 b.
113 Jan. 114 Jan.
Norfolk & West. - Gen., 6s, 1931 113%b. l l l % b 112% Jan. 113% Jam
96%
Chic. & Ind. Coal R ., 1st. 5s, ’36 97
97 Jan.
98 Jan.
116
N
orth.Pacific—1st,c
o
u
p
.,6
s
,’
21
116%
115%
Jan.
116%
Jam
Ch.Mil.& St.P—1st, I.& M.7s, ’97 116% 115% 114% Jan. 116% Jan.
Gen’l, 2d, coup.. 1 9 33.............. 105% 104
102 Jan. 105% Jan.
124% 123%b 123% Jan. 124% Jan.
Consol. 7s, 1 9 05.....................
101 ;
Spokane
&
P
al.—1st,
6s,
1936
100%a.
111 b, 111% Jan 112% Jan.
1st, So. Min. D lv.—6s, 1910..
N. Pac.Ter.Co.—1st, 6s, 1 9 3 3 ... 101% 100
99% Jan. 102 Jam
1st, CM. & Pae.W .Div—5s, ’S 102%b 101% 101% Jan. 102% Jen
Ohio & Miss.—Consol., 7s, 1898. 11458b. 114% 114% Jan. 115 Jan.
Wis. & M in. D iv.—5s, 1 9 2 1 .. 100%b 98%b 100 Jan. 101 Jan.
114 b
2d, consol., 7s, 1911.................
99 b 100 Jan. 100% Jan.
100%
Terminal 5s, 1914..................
Springfield D iv.—7s, 1905 . . . . 108%b.
Chic. & N. W —Consol. 7s, 191 139 b 139 b 139% Jan. 139% Jan.
100
Ohio Southern—1st, 6s, 1921.
99% Jan. 100 Jan.
128 b 129 b 128% Jan. 130 Jan.
Gold, 7s, 1 9 02........................
31%
2d, ino., 6s, 19 21...................... ; 33
31% Jan.
33 Jan.
Sinking fund 6s, 1929............
75%
Omaha & St. L .—1st, 4s, 19 37..
75 Jan.
76 J an.
Sinking fu nd 5s, 19 29...........
108 Jan. 110 Jan.
94%b
Oregon
Im
pr.
Co.—1st,
6s,
1910
96
94%
Jan.
96
Jan.
107 b. 108% 108% Jan. 108% Jan.
110
Ore. R. &Nav. Co.—1st, 6s, 1909 109
109 Jan. H O Jan.
105
b
26-year debent. 5s, 1909....... .
105% Jan. 105% Jan.
96%
96%
Consol.,
5s,
1925.......................
96%
Jan.
96%
Jan.
95
E xtension 4s, 1 9 26................... 94%
94% Jan.
95 Jan.
Oregon & Transeon.—6s, 1 9 2 2 .. 94 b 94
93 Jan.
95 Jan.
Chi. R. I. & Pac.—6s, coup. 1917 131%b. 131 b 131% Jan. 131% Jan.
P eo.D eo. & Evans.—1st, 6s, ’ 20. 107
106 Jan. 109 Jam
E xten. & col. 5s, 1 9 34............ . 107% 107% 107 Jan. 107% Jan.
106
Evansv. D iv— 1st, 6s, 1 9 2 0 ... 106
120
119 b.
119% Jan. 120% Jan.
72%b, 72 Jan.
2d m ort., 5s, 1 9 2 7 ................... 75
75 Jam
Ch.St.L.*, P itts.—1st,con. 5s, ’32 100 b. 100 b 100% Jan.
00% Jan.
R ich & A ll.—1st, 7s, 1920, tr. rec 58
123
C. C. C. & Ind.—Consol. 7s, 1914
123 Jan. 123 Jan.
109%
Richm
.
&
Dan.—Cons.,
6s,
1915
111
109 Jan. I l l
Jan.
Gen. 6s, 1 9 3 4 ............................. i07% b. 107 b. 107% Jan. 107% Jan.
100 fi 100 Jan. 100 Jan.
Debenture, 6s, 1927.................. 100
101
Col. Coal & Iron—1st, 6s, 1900.. 102
100 Jan. 102 Jan.
117 b
Rooh. & Pitts.—1st, 6s, 1 9 2 1 ... 117
71
Col. H . Val. & Tol.—Con. 5s, ’ 31 72
70% Jan.
72 Jan.
Consol., 6s, 1922....................... 112%b 113
13 Jan. 113 Jan.
Gen. gold, 6s, 19 04................... 74
71 Jan.
74 Jan,
Rom e W. & Ogd.—1st, 7s, 1891. 108 b. 107%b, 107 Jan. 107 Jan.
Denver & R io Gr.—1st, 7s, 1900 119%b. 119 b. 119% Jan. 120 Jan.
102
Consol.,
extend.,
5s,
1922.......
103
101%
Jan. 103 Jan.
77
1st con. 4s, 1936 ...................... 78
76% Jan.
78 Jan.
St, Jo. A G d .Isl.—1st, 6s, 1925 . 99%b. 98
98 Jau.
99% Jan.
Den. & R. Gr. W.—1st, 6s, 1911. 73 b. 73 b.
45
2d,
incom
e,
5s,
1
9
2
5
...............
66%b. 66% Jan.
Assented...................................... 67%
68% Jam
St.L. A lt.& T .H .—1st, 7s, 1894. 113
13 Jan. 113 Jan.
78%
Den. So. Pk. & P ac.—1st, 7s, ’05
78% Jan.
78% Jan.
2d, M., pref., 7s, 1894.............. I l l
35
D et.M ac.& M .—L d.gr.3% s,1911 39%
34% Jan.
40 Jan.
2d., M .jlno., 7s, 1894............... 103 %b. 103 a, 103 Jan. 103 Jan.
96
£ . TemV. & G. R y.—Con.,5s, ’56 97%
95% Jan.
97% Jan.
Dividend
bas, 6s, 1 8 9 4 ............ 38
98
Eliz. L ex. & B. Sandy—6s, 1902. 101
97 Jan. 101 Jan.
St. L. Ark. <fe T ex.—1st, 6s, 1936 102%
99%
98 Jan. 102% Jan.
E r ie - 1st. consol, gold, 7s, 1920 134 b. 137 a. 136 Jan. 136 Jan.
47%
42
2d,
6s,
1936.................................
40% Jan.
43% Jam
Long D ock, 7s, 1 8 9 3 ................ I l l b. 111 b. I l l
Jan. 112 Jan.
St. L. & Ir. Mt.—1st, 7s, 1 8 9 2 ... 111% 110
109% Jan. 111% Jan.
117
a.
117 a.
116% Jan. 116% Jan.
110 b 109 Jan. 109 Jan.
2d
m
ort.,
7s,
18
97......................
11058b,
97%
N.Y.L.E.&W —2d con. 6s, 1969 99%
97% Jan.
99% Jan.
Cairo & F u lton —1st, 7s, 1891 lO ô^b, 105% 105 Jan. 105% Jan.
80
Ft. W. & D env. C. -1 s t , 6s, 1921 81
79 Jan.
82 Jan.
Gen. R y. & land g r .,5 s, 1931. 90 b 9.0%
90 Jan.
91% Jan.
Gal.Har.& San. A n t.—1st, 6s, ’10 105%b. 105 %b. 106 Jan. 106 Jan.
St.
L. & San F r .-6 s ., Cl. A ,1906 114%b 113%b, 113% Jan. 11458 Jan.
106 a. 104 Jan. 105% Jan.
2d M., 7s, 1 9 0 5 ........................ 104
6s, Class B, 1 9 0 6 ..................
114%b
113%b.
West. Division—1st, 5s, 1931
92% Jan.
92% Jan.
6s, Class C, 1 9 06........................ 114%b I13% b 114 Jan. 11458 Jan.
2d, 6s, 1931............................
Gen’l mort., 6s, 19 31..................112%b, 112 % 112% Jan. 112% Jan.
30%
Gr’n B. W. ASt.P.—2d inc. 8s, 1911 32
30 Jan.
32% Jan.
Gen’l m ort., 5s, 1931................. 100%b 100% 100% Jan. 101 Jan.
120
Gulf Col.&San.Fe—1st,7s, 1909 121%
119 Jan. 121% Jan.
So. Pac., Mo.—1st, 6s, 1 8 8 8 ... 100% 100% 100 Jan. 100% Jan.
96 %a. 96% Jan
Gold, 6s, 1923............................ 96%
96% Jan.
St. Paul M. & M.—1st, 7s, 1909. l l l % b 110 b.
Henderson Br.Co.—1st. 6s, 1931 109 b. 108 b. 108% Jan. 108% Jan.
2d, 6s, 1909................................. 117%
17 Jan. 117% Jan.
H. & Tex. C.—1st M. L. 7 s......... 114%b, 114% 114% Jan. 115% Jan.
1st cons., 6s, 1 9 3 3 ................... 116
114 b. 114% Jan. 115% Jan.
1st, West. D., 7s, 1891........
113%b, 1338b 113% Jan. 114% Jan.
Do
reduced to 4 % s.. 96 %
96% Jan.
96% Jan.
1st,W aco & N. 7s, 1903............ H 2% b, 112 % 112% Jan. 112% Jan.
Shenandoah V a l.- 1st, 7s, 1909
90 b.
2d, consol. M. L. 8s, 1912....... 107 %a. 109 %a, 108 Jan. 108% Jan.
Gen’l m ort., 6s, 1921................ 34 b 36 a. 35 Jan.
35 Jam
Gen. mort. 6s, 1921, tr. r e c ... 65 %b. 65 b. 65 Jan.
65 Jan.
So. Carolina—1st, 6s, 16 20.........
96 b. 97 Jam
97 Jan.
Ind.Bl. & W .—1st, p ref.,7s, 1900 110 b. 110
2d, 6s, 1 9 3 1 ..
72 a 72 %a. 70 Jan.
70 Jan.
1 s t ,5-6s, 1909, tr. r e c . . . ......... 85 b. 90
85 Jan.
89% Jan.
Inc., 6s. 1931
12%b
15
Jan.
16 Jan.
72
2d, 5-6s, 1909, tr. r e c .............. 71%
71% Jan.
71% Jan.
So. Pao., Cal.—1st, 6s, 1905-12
1 1 15g Jan. 1115s Jan.
East. D iv.—6s, 1921, tr. r e c .. 82 b. 91
87 Jan.
87 Jan.
So. Pac., Ari.—1st, 6s, 1909-10.. 112%b,
Incom e, 6s, 1921, tr. r e o ....... 20 a. 19 b,
105% 105% Jan. 105% Jan.
So. Pac., N. M.—1st, 6s, 1911. ..
Int. & Gt.N or.—1st, 6s, g o ld ,’ 19 110% 109 %b. 109 Jan. 110% Jan.
Tex. & Pao.—Inc. & Id gr, 7s, '15 48 b 47%
47% Jan,
48°g Jam
Coupon, 6s, 1 9 0 9 ...................... 75 b. 75 b. 75 Jan.
77 Jan.
65%
R
io
Grande
D
iv.—6s,
19
30
6
d
5g
65% Jan.
66% Jan.
69
Kent. Centr.—Gold 4s, 1 9 8 7 ...
71%
69 Jan.
71% Jan.
61 a
Gen.
m
ort.
&
term.,
6s,
1
9
0
5
..
58
b
K n oxv. & 0 .—1st, 6s, gold, 1925 91 b. 89%
89% Jan.
92 Jan.
Toi. A .A . & N. M.—1st, 6s, 1924. 92%
88
85
Jan.
92%
Jam
L. Erie & W .—1st g., 5s, 1 9 3 7 .. 102%b. 102
101% Jan. 102% Jan.
Tol. A .A . & Gr.Tr.—1st, 6s, 1921 101 %b 101 b
125%
L akeS h.-C on.coup.,1st, 7s,1900 126
25% Jan. 126 Jan.
Tol. Peor. & West—1st, 7s, ’ 17 . 77%b. 80 b
Con. coup., 2d, 7s, 19 03........... 123%b. 122 % 122% Jan. 122% Jan.
Tol. & Ohio Cent.—1st, 5s, 1935 94 b. 93 b 93 Jan.
94% Jan.
Long Island—1st, 7s, 1 8 98......... 120 b. 20 b. 120% Jan. 121 Jan.
Tol.St.L.& Kan. C.—1st,6s, 1916 93 a. 915g
91% Jan.
93% Jan.
1st, consol., 5s, 1931.......
110%b. 110%b. I l l
Jan. I l l
Jan.
Union P acific—1st, 6s, 1899____ 114 b. 114
114 Jan. 114 Jan.
0%b. 120 Jan. 121 Jan.
Lou. & Nash.—Consol., 7s, 1898 120 b.
Land grant, 7s, 1887-9............ 163 b. 103 b
N. O. & Mobile—1st, 6s, 1930. 109 %b. 108%b. 108% Jan. 109% Jan.
Sinking fund, 8s, 1893............ 118%
119
118 Jan. 119 Jam
2d, 6s, 1930........................
96%b. 90 b. 96% Jan.
96% Jan.
Kan. Pacific—1st, 6s, 18 95.................... 112
112 Jan. 112 Jau.
E . H. & N.—1st, 6s, 1 9 19......... 113 b. 113 b.
1st, 6s, 1896........................................... 110 b, 110 Jar. I l l Jam
General, 6s, 19 30.................
110%b.
112
109% Jau. 112 Jau.
Denver D iv.—6s, 1 8 99......... 113 b.
Trust Bonds, 6s, 1922............. 109% 109
108 Jan. 109% Jan.
1st consol, 6s, 1 9 1 9 .............. 105
102% 101% Jan. 105 Jan.
10-40, 6s, 1924.....................
102 ’-«b. 100 b.
Oregon Sh. Line -1 s t, 6s, ’ 22.. 103
102
100% Jan. 103 Jan.
Lou. N. A. & Ch.—1st, 6s, 1910. 112% 113 a. i*12% Jan! i l 2% Jan!
Virginia Mid.—Gen. m., 5s, 1936 78
78
78 Jan.
79% Jan.
Consol., gold, 6s, 1916............
91%b. 90% Jan.
91
92 Jan.
Wab. St.L. & P a c .-G e n ., 6 s ,’ 20 51 a. 51 a. 45 Jan.
45 Jan.
Mem. & Ch’lston—6s, gold, 1924 102
98%b. 100 Jan. 102 Jan.
CMcago Divison—5s, 1910___ 93
95%b. 93 Jan.
97 Jan.
Metro. Elevated.—1st, 6s, 1908 115
116
114% Jan. 116% Jan.
Wabash—M ortgage,7s, 1 9 0 9 .. 89 b. 80 b 89 Jan
89 Jan.
2d, 6s, 1 8 9 9 ............................. i 105%b. 105 %b. 105% Jan. 105% Jan.
Tol. & Wab.—1st, ext., 7s, ’90 107%b. 107% 107% Jan. 108% Jan.
Mich. Central—1st, con., 7s, '02 127%b.
127 Jan. 128% Jan.
1st, St. L. D iv .. 7s, 1889....... 107% 106%b. 107% Jan. 107% Jan.
Consol. 5s, 1 9 0 2 ..................... 110 a. 110%b. 1 10% Jan 110% Jan.
2d, extended, 7s, 1893.......... 90 a. 88 b. 88 Jan.
90 Jan.
Miss’riP a c.—1st, cons., 6s,1920 113 b. 111 b. 113% Jan. 113% Jan,
Con., conv., 7s, 1907............ 81 b. 80 b.
Sd, 7s, 1906........................
119 b. 117% Jan. 117% Jan.
Great West.—1st, 7s, 1888____107 b.
Pac. o f Mo.—1st, 6s, 1888___ 102 %b. 10258b. 1025s Jan. 102% Jan.
2d, 7s, 1893............................. 89 b. 88
88 Jan.
89 Jan.
2d m ort., 7s, 18 91................ 104 b.
West Shore—G
uar., 4 s .................. loO
________________________
_____________________
100
9 9 78 Jan. 100% Jan.
N ote —The letter “ b " indicates price bid, and “ a” price a sk ed ; all other prices and the range are from aotual sales.
S T A T E BONDS*
SECURITIES.
A labam a—Class A 3 to 5 ........1906
Class B, 5s.............................. 1906
Class C, 4s............................... 1906
6s, 10-20.................................. 1900
Arkansas—6s, fu nded.. 1899-1900
7s, Little R ock & Fort Smith, iss.
7s, Memphis & Little R ock, iss..
7s, Arkansas Central R R ............
Georgia—7s, g old ..................... 1890
Louisiana—7s, con s.................. 1914
Stamped, 4 s...................................
Michigan—7 s ............................. 1890
Bid.
A sk
106% 108
109
100
101
26
20
104%
18
22
18
100
89
106
91
SECURITIES.
Bid.
Missouri—6s....... due 1889 or 1890
Asylum or U niversity, due 1892
Funding.........................1894-1895
N ew Y ork—6s, loan ..................1892
6s, loa n .....................................1893
North Carolina—6s, o ld ............ J&J
Funding a c t............................ 1900
N ew bonds, J. & J ___ 1892-1898
Chatham R R ..................................
Special tax , Class 1 .......................
Consolidated 4s..................... 1910
6 s........................
..1 9 1 9
102%
107
108
112
113
35
10
20
9
96
120
Ask.
SECURITIES.
Bid.
A sk
Rhode Island—6s, c o u ..1893-1894 114
_ South
Carolina—6s, non-fund. 1888
5
7
B row n consolidated 6 s....... 1893 104
Tennessee—6s, o ld .........1892-1898
59
62
Compromise, 3-4-5-6S........... 1912
70
71
New settlement—6s...............1913
98 _r
o s ............................................1913
100
3s............................................1913
69% 69%
12
Virginia—6s, old .................................
48
12
6s, consolidated bon ds.............. .
75
85
93%
6s, consolidated, 2d series______
60
122
6s, deferred, trust, r e e .____ ______
9
10
THE CHRONICLE.
TO
[V o l.
XL\I.
BONDS—STOCK EXCHANGE QUOTATIONS ON FKIDAY OF INACTIVE RAILROAD BONDS.
SECURITIES.
Bid.
Ask.
SECURITIES.
Bid.
Ask.
8ECUBITIE8.
Bid.
Ask.
!
¡0 0 0
P acific R R .—Cent. P a c.—(Con ) —
Eliz. C. & N.—S.f., deb., 6s. ..1 921
Railroad Bonds.
Cal. & Oregon—1st, 6 s — 1888
1st m ortg., 6 s ...................... -1920
(Stock Exchange Prices.)
Cal. & Oregon—Ser. B., 6 1892
123
118
Erie—1st,
extended,
7
s
..
.
.
.
.
.
1897
A tch . Top. & San. Fe—4 ifiS ...192 0
West.
Pacific—Bonds, 6 s___1899
116
112
2d, extended, 5 s ...................1 9 1 9
Sinking fund, 6s ................... 1911
115%?.
107
No.
R ailw ay (Cal.)—1st, 6s. 1907
105
9
2
3
3d,
extended,
4*28..............1
75
B eecn Creek—1st gold, 4s...... 1936
Union
P a c.—1st, 6s...............1896 113
115
113
4th,extended, 5s............. ....1 9 2 0
123
Balt. &'Onio—1 st6s, P ark B ..1919
113%
1st,
6s...................................1897
101*8
5th,
7
s
......................................
1888
107*2
5s, g o ld ..................^ .....1 9 2 5
1st, 6 s.......... . . . . . . . . . . . . . . 1 8 9 8 113*4
131 131%
1st, cons., fd. coup., 7s....... 1920
R egistered..................................
Col. Trust, 6 s ...................... 1908
99
Reorg., 1st lien, 6s.........— 1908 102
B 'St. H .T un. & W.—D e b .5 s...1913 - 98
Col. Trust, 5 s.......................1907
B. N. Y . & E .—1st, 7 s.......... 1916 135 138
B rook lyn E lev.—1st, G., 6 S ...1 9 2 4 1 ......... 106*6
C. Br. U. P.—F. e., 7 s ....... 1895 105
N. Y . L. E. & W.—Col. tr., 6sl9 22 *104*2 106
2d, 3-5s.....................................1915 *........ 81
106
85
A tcb. Col. & P ac.—1st, 6s. 1905 105
Funded coup., 5s................... 1969
B url. Ce. Rap. & No.—1st, 5s. 1906 105 106
90
Atch.
J. Co. & W.—1st, 68.1905 103
Buff.
&
S.
W.—Mortg.
6
s
.
...
1908
95
Consol. & col. tr, 5s...............1934
93
94
Ut. So.—Gen., 7 s ...............1909
Evan. & T. H . - l s t , cons., 68.1921 115 116
R egistered ....................................
95
91
Extern, 1st, 7 s ................ 1909
Mt. Vernon—1st, 6s.............1 9 2 3 109
Minn. & St. L .—1st 7s, gu . .1927
Missouri Pacific—
Loi"
Evans. & Indian.—1st, c o n s.. .1926
Io w a C. & W e s t .- 1st 7 s . ...1909
Yerd’
s
V.
Ind.
&
W.,
1st,
5s
1926
Eureka Springs R ’y, 1st, 6s, g.1933
110
Ced. Rap. L F. & N., 1st 6s. 1920
Ler. & C’y Val A. L .,lst,5 s.l9 2 6
97*2 F l’t & P. Marq.—Mortg., 6 s ... 1920 117 120
1st 5 s.................................... 1921
St. Louis & San Francisco—
99*4
Grand Rap. & Ind.—Gen. 5S..1924
Bnff. N .Y .& P bil.—Cons. 6 s . ..1921
1st, 6s,P ierce C. & Ö ......1 9 1 9 105
„ HU
R egistered...........
40
Trust certificates..........................
Equipment, 7 s ....................1895 105
Green B. W. & St. P .—1st, 6s 1911 100 104*2
General 6s,.............................. 1924
105
Kan. City & S.—1st, 6s, g.1916
Han. & St. Jos.—Cons., 6s.......1911 1173 118%
Trust certificates........................
62
65
Ft. S. & V .B . Bg.—1st, 6s. 1910;
Hous. E. & W. Tex—1st, 7 s . . . 1898
C entral Iowa—1st, 7s, Tr. R ecl899
105
St.
L.
K.&
So.Wn.—1st,
68.1916
Hlinois
Central—1st,
gold,
4s.l9
5
1
East’n D iv., 1st, 6 s................1912
92*2 93
Tex. & P ac.—1st, 6 s............ 1905
let, gold, 3*28................
Illinois Division—1st 6s........1912
110
115
1st, 6s, ox coupon....................... 108
Springf. D iv .—C oup.,..6s, . 1898
55
45
Cons, gold bonds, 6 s ............ 1924
112
Consol., 6s, trust receipts.1905 100
Middle D iv.—Reg., 5s .....1 9 2 1
Cent. RR. & Banking Co., Ga.—
114
Pennsylvania
R
R
.—
C.
St.
L.
&
N.
O.—Ten.
1.,7
s
.1897
100
%
,
Collateral gold, 5s.................1937 100
Pa. Co.’s guar. 4*28,1st c p .. 1921 106
1st, consol., 7 s ....................1897 115% 120
d ie s . & O.—6s, gold, ser. A . ..1908 '100
Pa. Co.’s 4*28, reg ................. 1921 106%
2d, 6 s.................................... 1907 116
Ches. O. & So. West.—2d 6 s ... 1911
Pitts. C. &St.L.—ls t,c p .,7 s . 1900 117
Gold, 5s, co u p o n ................ 1951 114*2 116*2
Chicago & A lton—1st, 7s........ 189? 1131a
110
2d, 7s.............................. ....1 9 1 3
R
egistered................................
.
Sinking fund, 6 s . . . . .............. 1903 124
Pitts. Ft. W. & C.—1st, 7S ...1912 '139 140
Dub. & S. C.—2d D iv., 7 s . . .1894 110*2 114
Louis. & Mo. R iver—I s t 7 s ..l9 0 0 1201«
79
80
2d, 7s.....................................1912 137
Ced.
Falls
&
Minn.—1st,
7s.
1907
2 d 7 s . .................................... 1900 11712
138
3d, 7 s .....................................1912
Indianap. D. & Spr.—
*Bt. L. Jacks.& C h ic—1st, 7s. 1894 1141a
102*2
Clev.
& P .-C o n s ., s. fd., 7s. 1900
106
1st, 7s, ex. fund, cou p on — 1906
1st, guar. (564), 7 s............ 1894 114 117
106%
106% .
4th, sink, fd., 6 s................. 1892
Lake Shore & Mich. So.—
2d mortg. (360), 7 s............ 1898 '115
113*2
St. L. V . & T .H .—1st, g., 78.1897
Cleve. P. & A .—7s . . . . . . . . . . 1 8 9 2 110*2
2d, guar. (188), 7 s.............. 1898 115
2d, 7 s....... .............................1898
Buff. & E r.—New bonds, 7 s .1898 119*2 121
Miss. R. Bridge—1st, s.f. 68.1912 '107
110
2d,
guar.,
7
s.........................1898
103*2
Kal. & W .Pigeon—1 s t 7 s ...1 890
Chic. Burling. & Q.—
Pine Creek Railw ay—6s of 1932
Det. M. & T.—1st, 7 s............ 1906 120*2
5s, sipking fu nd .....................1901 '109
71
120
Pitts.
&
W
estern—
1st,
g.,
4
s..
1917
121*4
Lake Shore—D iv. bonds, 7s. 1899
Iow a D iv.—Sink, fund, 5 s.. 1919
Pitts. Cleve. & Tol.—1 st,6 s ... 1922 107
Consol., reg., 1st, 7 s .........1900 125*4 126
98
Sinking fund, 4 s ................1919
97
Consol., reg., 2d, 7 s ...........1903 123*2 124*2 Pitts. Junction—1st, 6s...........1922 107*2
■Plain, 4 s . . . . _______ _______ 1921
71
102 103
Pitts. M cK. & Y .—1st, 6s....... 1932
Mahon’g.
Coal
RR.—1
s
t
5
s
.1934
95
Nebraska Extension 4 s........1927
94
75
85
Rich. & Danv.—Deb. ex cp.6s. 1927
Long Island R R .—
C iic. Burl. & No.—Deb. 6s___ 1896
107
Consol,
m
ort.,
gold,
5
s.........1936
N.
Y
.
&
M.
Beach—1st,
7
s
..1897
Chic. R ock Isl. & Pac.—
A tl. & Char.—1st, pr., 7s___ 1897
N. Y . B. & M. B .—1st, g .,5 s . 1935
86 %
lie s Moines & Ft. D.—1st,4 s .1905
In com es............................... 1900
Louisville & N ashville—
60
50
1st, 2*2 6...............................1905
89%
Rich. & W. Pt. Ter’l. Trust 6s. .1897
Ceoilian B rancn—7 s ............ 1907 1C 6 108
86
Extension, 4 s .....................1905
100
San
Ant.& A rans.—1st,6s,’85-1916
Pensacola
D
iv.—6
s
...............1920
Keok. & Des M.—1st, 5 s ....1 9 2 3 106% 107*4
1st, 6s, 1886........................... 1926
St. Louis D iv.—1st, 6 s ......... 1921 115*2
Chic. Milw.& St.P.—
57*2
Scioto V al.—1st, cons., 7 s....... 1910
2d, 3s.................................-.1 980
1st, 8s, P. D . . . . . ................... 1898 128 129*2
50
Coupons o ff......................... .
Nashv. & D ecatur—1st, 7 s.. 1900 117*2
'2 d , 7 3-1 Os, P. D ................... 1898 120 124
St. Louis & Iron Mountain—
S. & N. Ala.—S. f., 6 s ...........19101 105*2
1st, 7s, $ g., R. D ................. 1902 125 127
Arkansas Branch—1st, 7 s .. 1895 109 110 %
Louisv. C. & L.—6 s ..............1931
1st, La Crosse Division, 7 s ..1893 114 115*2
99 100
Cairo Ark. & T .—1st, 7 s ___1897 '109
5 p. c. 50 year gold b d s.........1937
1st, I. & D ., 7s........................ 1899 115
96%
St. L. A lton & Ter. Haute—
Pens. & A t.—1st, 6s, g o ld .. 1921
127
1st, C. & M ., 7s....................... 1903
Bellev.
& So. 111.—1st, 8s. ..1 8 9 6 117
Lou. N. O. & T ex.—1st,4 s -----1934
1st, 7s, I. & D. E x t................1908 123ia
110
B ellev. & C a r—1st, 6 s .........1923
2d m ort., 5s.......................... 1934
1st, S. W. D iv., 6s..................1909 111 113*2
67
St.
Paul
Minn.
& Man.—
6S*s
M exican Cent.—N ew, ass., 4s. 1911
1st, 5s, La C. « D a v ............. 1919
116*2
Dakota
Exten.—6s.......
........
1910
22
Incom
e,
3
s
..............................1911
125
1st, H. & D . , 7 s ..................... 1910 122
82%,
Montana E xten.—1st, g .,4 s.1937
M ichigan Cent.—6 s.................. 1909
1st, H. & D ., 5 s ...................... 1910
973s 93
109%
R e iis t e r e i....................................
Coupon, 5s . . . . . . . . . . . . . . . . . . 1 9 3 1
Chicago & P acific D iv., 6 s ..i9 1 0 117
Min’s Un.—1st, 6s..................1922
Registered, 5s................ .....1 9 3 1
96*4
Chic. & Mo. Riv. Div., 5s ...1 9 2 6
St. Paul & Duluth—1st, 5s___ 1931
Jack. Lan. & Sag.—6 s -----..1891 105
Mineral Point D iv., 5s.........1910 ICO 101
Milwauk. & North.—1st, 6 s . ..1910 106 107*2 8<>dus B ay & So.—1st, 5s, g .,.1 9 2 4
C. & L. Sup. D iv., 5 s............ 1921
Tax. Central—1st, s. f., 7 s ___ 1909
Extension, 6 s .....................1 9 1 3 104%
Fargo & South., 6s, A s s u .. .1924 110 120
70
1st mortg. 7 s ..........................1911
M lw. Lake S. & W est.—
Inc. conv. sink, fund 5s........1916
90
Tax. & N. O.—1st, 7 s................1905 112 114
95
Conv.
deb.,
5
s
.
.-------.
....
...1
9
0
7
D akota & Gt. South., 5s.......1916 ' 90
I Sabine Division, 1st, 6s........1912 '100
Michigan Div.—1st, 6s......... 1924 '114*2
C iica g o & Northwestern—
95 100
Valley R ’y Co. o f O.—Con. 6S.1921
M nn.&St.L.—P a E x.—1st,7s 1909
Escanaba & L. S.—1st, 6 s ...1 901
50
Virginia M id la n d .-Iu c., 6 s ...1 927
2d m ortg., 7 s . . . ..................... 1891
D es M. & Minn.—1st, 7s ....1 9 0 7
Wah. St. L. & P a c.—
Southwest E xt.—1st, 7 s ___1910
Iow a Midland—1st, 8 s .........1900 125
Havana D iv .-6 s ................1 9 1 0
Pacific E x t.—1st, 6 8 .............1921
Peninsula—1st, conv., 7 s___1898 120
Indianapolis D iv.—6s...........1921
Minn. & P ac.—1st mortg. 5 s ..1936
Chic. & M ilwaukee—1st, 7s. 1898 117
Detroit D iv.—6 s ....................1921 102
Minn. & N. W.—1st, 5s, g old .. 1934
W in. & St. P .—2d, 7s............ 1907 129
Cairo D iv.—5s.........................1931
92
Minn. S.Ste.M.&Atl.—1st,5 s .. 1926
Mil. & Mad.—1st, 6 s ............. 1905
Tol. &W ab. —Equip. b d s.,7 sl8 8 3
Mo. K. & T.—Cons.,2d, inc___ 1911
Ott. C. F. & St. P . - l s t , 5 s ..1909 '107
94*s
Quin. & Tol.—1st, 7 s _____1890
107*2
H. & Cent. Mo.—1st, 7s....... 1890
Northern 111.—1st, 5 .............1910 106 108%
Han. &Naples—1st, 7 s___ 1909
Mobile & Ohio—Col. tr., 6s ...1 8 9 2 101
Ct. Col. Cin. & I n d — 1st, 7s, s.f.’99 119*2 124
95
90
111. & S o.Iow a—1st,ex. 6s. 1912
St. L. & C a ir o -4 s , guar....... 1931 ' 71%
Consol, sink, fd., 7 s .............. 1914
St. L. K. C. & N .—
Morgan’s La. & T .—1st, 6s— 1920 104
Chic. St. Paul M. & O.—
112%!
R eal Estate & R R .—7s___1895
1st, 7 s ...............
1918 121 124
125
Chic. S. P. & Minn.—1st, 6S.1918
Clariuda B r .- 6 s..............1919
Nash. Chat. & St. L.—2d, 6 s.. 1901 101*2 106
N o . Wisconsin—1st, 6s......... 1930
St.Charles Br’ge—1st,6s. 1908
N. J. June.—Guar. 1st, 48........1986 '104 105*2
St. Paul & S.C .—1st, 6s ....1 9 1 9 123 126
No.
Missouri—1st, 7 s .........1895 111*2 1 1 2 %
Registered certificates.................
Chic. & E. 111.—1st, s. f., cu r.. 1907 .113*2
Wab. St. L. & P ac.—Iow a Div., 6s.
N. Y . P. & O.—Prior lien, 6s .1 8 9 5
Chic. & W. Ind .- 1 s t , s.f., 6 s .. 1919 112 114
West.
Union
Tel.—Coup. 7 s .. .1900 114%
55
N. Y . <& Northern.—2d, 4 s___1927
General m ortgage, 6 ............. 1932 113*2 117
114% 117
R egistered.............................
N. Y . & New E ug.—1st, 7 s . ...1 9 0 5 121*2
Chic. & St. Loui6—1st, 6s....... 1915
N.
W.
Telegraph—7
s ................ 1904 100
1st, 6 s ...................................... 1905
Cin. I.S t.L.A Chic.—1st,g.,4s .1936
Wheeling <£ L. E., 1st M. 5s. .1926
94*2 100
N.Y.Susq.& W est.—Deb. 6 s ...l8 a 7
R egistered....................................
74
75% Market St. Cable R y., 1st, e s .1913
2d, 4*28.................................... 1937
95*2
Cin. Jack. & M ac.—1st,g .,5 s ...1936
Manhat. Beach Imp. Co.—7s. 1909
N. Y . N. H. & H.—1st, Teg. 4s. 1903
Col. & Green.—1st, 6s...............1916
Am. W aterw orks Co., 1st. 6s. 1907 ......... .........
N. Y .T e x .& M e x .—1st, 4s ...1 9 1 2 .........
2d, 6s.....................
1926
Tenn. C. I.& R ’y .—Consol., 6 s.1901
Northern P acific—Dividend scrip ..
C ol. & Cin. Midland—1st, 6 s ..1914
100
South Pitts.—1st, 6 s ............. 1902
97%
D ividend exten ded.......................
D el. Lack. & W e s t 84%
Bir. Div.—1st con. 6s.............1917
83
James R iver V al.—1st, 6s. .1936 103 108
C onvertible 7 s ....................... 1892 110*2 111*2
Col. & H ock. Coal & L —6s, g ..l9 1 7
St. Paul & N. P.—Gen., 6 s ..1923 118
M ortgage, 7 s ..... ..................... 1907 133*2
Registered......................
............
ra. Bing. & N .Y .—1st, 7s. 1906 130*2 131*2
In co m e B o n d s.
Helena& R edM ’n—1st,g.,6s.1937 103
orris & Essex—1st, 7 s ....... 1914 140 142
LOO
DuL <fe Manitoba—1st, g. 6s. 1936
2d , 7 s . .................................. 1891 110 1103s
(Interest payable i f earned.)
Hel. B.Val. & Butte, 1st, Gs.1937
B onds, 7 s......... ................... 1900 117
25
A tl. & P ac.—Cen. D iv .............1922
Drummond <&P ’bg.—1st, 5s 1037
7s o f 1871............................ 1901 125 128*2
Cent. Iow a—Coup, d ebteertf’s
Helena & No.—1st, g’ d, 5s. 193)
1st, con., guar., 7 s ............ 1915 133 133*2
Eliz.
City
&
N
or.—2d
in
c
.........1970
N .O.
___& No. E .—Pr. 1., g., 6s ..1 915
DeL & Hud. Canal—1st, 7 s ... 1891 106% 107
Ind’ap. D ec. & Spr.—2d in c .. 1906
99 105
New Or. & G u lf-1 s t , Ss.........1926
‘1st, e x t , 7 s..............................1891 107
35
20
Trust receipts................................
Norf. & W.—New R iv.—1st,6s.1932
Coupon, 7s,..............................1894 113*2
Leh. & WilkesD. Coal............... 1888
Imp. & E xt., 6s................. ...1 9 3 4 101
Registered, 7 s ..................... 1894 113
104
Milw.
Lake
8h.
&
W.—Incom
e.......
Adjustm ent M., 7 s........ . ..1 924 104*21
P a. Div., coup., 7s.~.............. 1917 110*2 142
25%
22
Ogd. & Lake C h .- ls t , 6 s .......1920 .........101*4 M obile & Ohio—2clpref. deben—
R egistered........... ...................
140*2 142
20
17
3d pref. debentures......................
Ohio & Miss.—Cons., s. f., 7 s .. 1898 114% .15*2
A lban y & Susque.—1st, 7s.. 1888 101
14
16
4th
pref.
debentures......................
'
90
General
5s...............................
1932
135
1st, cons., guar., 7 s ...........1906
55
N. Y. L. E. & West.—Inc., 6 s..1977]
Ohio Cent.—1st Ter. Tr., 6 s ... 1920
R egistered.................................
Ohio
Cent.—Min.
D
iv
.-Iu
c.
7s.
1921
Min.
Div.—1st,
6
s
..................
1921
1st, cons., guar., 6 s ...........1906 119*8
Ogdens. & L. C ham .- Incom e.1920
96 100
Ohio R iver R R .—1st, 5 s ....... 1936
R egistered................................. 119
ShuTiiunloali Valiev—Inc.
10
Shenandoah
Valley—Inc. 6 s ..1923
..l9 2 3
Oregon & Cal.—1st, 6 s ............. 1921
Bens. & Sar.—1st, coup., 7s. 1921 140*2
Panama—Sink, id., sub., 6 s . ..1910
R egistered....................................
F
r
e
e
L
is
t.
112
Peoria
&
P
ek
U’n—1st,
6
s
.
...
1921
Det. Mack. & Mar.—1st, 6 s.. .1921
2d M., 4*28..............................1921
D et. B ay C. & A lp. - 1st, 6 . . . . 1913 104*2 105*4
Consol. Coal, conv. 6s............ 1897
¡Pacific R R .—Central Paciflo
E . Tenn. Ya. & Ga.—1st, 7s. ..1900. *116*2!
Cumuerlaad & Penn., 1st, 6s. 1 8 9 1
Gold bonds, 6s....................1895 114
Divisional 5 s .......................... 1930 *105
2d, 6 s .....................................1 8 a 8
114
G old bonds, 6s............ ....1 8 9 6
E . & W . o f Alabama—
|
Erie & Pit* sbug R’ y—Cons. 7s, ’ a->
G old bonds, 6s....................1897 114
l e t cons.. gold, 6s................. 1926 * 40
S
Nc price F rid a y ; these are latest quotations m ade this week.
January
14, 1888.]
THE CHRONICLE.
New York City Banks.—The following statement shows the
condition of the Associated Banks of New York City for the
week ending January 7, 1888:
Average Amount ofBanki.
N ew Y o rk .............
Manhattan Co.......
Merchants’ . . ... ..«
Mechanics’............
America.................
Plienlx.............. ....
'City........................
Tradesmen’s........
■Chemical............
Merchants’ Exch.
Gallatin National.
Butchers’ & Drov.
Mechanics’ & Tra.
’Greenwich.............
heather Manuf’rs.
■Seventh W ard.....
-State of N. Y ........
Americ’n Exch’ge.
Com m erce.............
Broadway..............
Mercantile.............j
Pacific..............
Republic................
Chatham...............
Peoples’ . . . . . . ........
North America....
■Hanover...............
Irving.................
Citizens’ ................
N assau..................
Market & Eulton.
•St. Nicholas.........
Shoe * Leather...
Corn Exchange...
Continental...........
Oriental.................
Importers’ & Trad’
Park.......................
North River......."
East River.........
Fourth National..
Central National..
Second National..
Ninth National....
First National....
Third National....
N. Y. Nat. E x ch ...
B ow ery.................
N. Y . County.......[
German-Americ’n .
Chase National___
Fifth Avenue___
German Exch’ nge.
Germania..........
United States../.'.I
L in co ln .........
Garfield...........
Fifth National...
B*k of the Metrop.
West Side......... ..
Seaboard........
Sixth N ational"”
Western National’.
Bank Stock List.
BANKS.
Ask.
BANKS.
Bid. Ask. i
178
140
270
Gallatin___ 200
Garfield....... 200
Oarm’nAm .. 115
. . . . . Germania... 200
136
Greenwich.. 115V
____
Tanover___ 185 200
Im .* Trad’s’
345
3500 Irving ........ 150
150
Leather Mfs’ 195
Manhattan.. 162 id’s "
Ì7Ó
Market........ 170
130
Mechanics’ .
167
205
M’chs’ &Trs’ 145
Mercantile.. 147
Meronants ’ . 142 145
........ M’roh’ts’ Ex. 115 125
rhird______
145
Vassan........ 150 150
tradesmen's
United St’ es
........1 Vew Y o r k .. 215
Insurance Stock L ist.
[Quotations by E. S. Bailey, 5 V Pine St.]
OOMPAN’ S Bid, Ask,.[[CO MEAN'S. Bid. Ask. COMPAN’S. Bid.
[A sk
150 |Germania... 150 160
M ontank.... 80
87
165
G lob e.......... 118 126
N assau____ 140 145
160 ¡Greenwich.. 180 215
National___ 95 105
175 1Guardian... 50
60
N. Y. Equity 150 160
125
Hamilton .. 110 120
N. Y. Fire .. 75
95
120
H a n ov er.... 125 135
Niagara____ 150 160
125
H om e.......... 130 135
North River 90 100
95
Howard . . . . 57
65
P acific........ 160 180
50
Jefferson.... 105 120
Pet’r Cooper 160 170
100
Kings Co___ 175 200
People’s....... 90 100
225
Knickerb’k r 78
33
Phénix . . . . . 100 105
245
L ib e rty ...... 90 100
Rutger’ s ___ 130 137
ICO Long Island 90 100
Standard___ 102 n o
110
Lafaj ette... 75
85
S terlin g ___ 70
75
120
Manuf’c.&B 115 125
Stuyvesant. 110 125
100
Mechanics’ * 71
85
United St’ es 140 150
90
Mercantile.. 55
70
Westehester 130 140
320 M erchants’ . 80 100
w1lliam«b’tr. 260 280
Gas and City R ailroad Stocks and Bonds.
[Gas Quotations by Gbo. H . P rentiss & 00., Brokers, 49 Wall Street.]
Alliance . .. 140
Am erican.. 150
B ow ery___ 150
Broadway.. 160
B rooklyn. . . 110
Citizens’ . . . . 110
C ity ............. 117
Clinton........ 85
Commercial. 40
Commonw’h. 80
Continental. 08
E a g le .......... 240
Empire City 90
E xchange... 95
Farragut___ 110
Fire Asso’n.
Firemen’ s ... 80
German-Am. 300
Loans.
Specie.
Circula’n. Agg.Cl’ngs
*
$
$
»
9
D'c. 24 137,830,000 7,969.900 3.506,200 101,704,500 7,118.800
“ 31 137,509,000 8,039 600 3,650,300 103.351.800 7,042,70( 73.423,122
60,287,181
Jan. 7 138,687.300 8,416,100 3,797,600 106.354.800 7,045,00( 93.563,959
Philadelphia Banks.—The totals have been as follows:
Loans.
Lawful Mon’y Deposits.*
9
9
9
Dec. 24...... 86,620.700
21,182,200
82,552.700
“ 31...... 86,219.800
22,128,700
83.550.200
Jan. 7...... 86.023,200
23,040,500
84.910.200
'In c u ling the item “ due to other banks.
Circula’n Agg.Cl’ngs
s
2.312,230
2,311,250
2.299,050
$
61,405,963
49,565,216
71.107.162
Quotations in Boston, Philadelphia and Baltimore.
Following are quotations of active stocks and bonds A
complete list is given in the C h r o n i c l e the first Saturdav
o f each month.
J
SECURITIES.
Bid.
America....... 174
Am. E xoh... ....
Broadway... 257
Batch»’ * Dr 162
Central........ 130
C h a se........ 210
Chatham... . 215
Chemical__ 3200
Citizens’ __ 142
City..............
Commerce .. 167
Continental. 120
Corn Exch... 200
East R iver.. 130
11th W ard.. ISO
Fifth A v e ... 750
1600
Fourth........ 140
F ulton........ 170
Boston Banks.—Following are the totals of the Boston b a n k s :
1887-8.
SECURITIES.
Bid. Ask.
SECURITIES.
Bid. As k
Cam. & A m b .-M ., 6s, ’891 ___ 104*4 Phila.* Read’g (Cont’d)—
Col. &C. M.—1st, 68.19141___
95
Cons. 5s, 1st Ber.,o.,1922
Leh.V.—lBt,6s,C.*R.,’ 98 120
Cons. 5s, 2d ser.,o., 1933 74 V 75
2d, 7s, reg., 1910........... 136 Si
Debenture coup., 1893.
75
Cons. 6s, 0 . * R., 1923..I 128 129
Deferred incomes, o p ... 19
21
Penna.—Gen.,6s,op.,1910 §........ 129 V
Cons., 6s, coup., 19 05...i ........ 121
B
A
L
T
IM
O
R
E
.
Cons., 5s,reg., 1919___{ .......... 113
4Vs, Trust L o a n . .......i ........
RAILROAD STOCKS.t
Perkiomen—lst.es.cp.’STi 103
Baltimore * O hio.......... 100 115
P h il.* R.—1st,6s,1910..I ........
1st prof.........................
2d, 7s, cou p .* reg.,1893 111*4 112 V 2d pref.......................
109*4117
Cons., 7s, coup., 1 9 1 1 ..1 129VI130
R AILROAD BONDS.’
Cons.,6s, g., I.R.0.1911 ¿119 ........ Baltimore & Ohio—4 s.... ........ 100**
Imp., 6s, g., coup., 1897 § ..... 103*4 Gin. Wash. * Balt.—lets. 98*4! 99*4
Gen., 6s, g., coup., 1908 109 V 1( 9*4 2ds, 5s.................
76 I 76V
Gen., 7s, coup., 1908___ 110VÌH2V
3ds, 3 -4 s .......................I 44 I 44W
Income, 7s, coup., 1896 81VI 82
1st Inc., 5s, 1931......... 1 22 I 25
* Ex-dividend. + Per share. i Last price this week.
New York Local Securities.
Total................... 360,070,500 75,235,400 28,417,800 371,305,900 8,089,900
1887-8
71
Bid.
Ask,
B OSTON .
RAILROAD STOCKS.!
93 V 04
Atcnison * T opeka........
Boston & Lowell.......................... |160
Boston * M aine.............. 210
B o s to n * Providence................. [242
California Southern........
4
Central of Massachusetts 2 i V 22
Preferred.......................
41V
Chic. Burl. & North’n___ 55 V 60
Cleveland & Canton_____§ 8 V
Preferred..................... | 27
I__
Eastern............................. $lu5 115
Preferred........................$..........'129
Fitchburg, p ref..............| 95
I__
Flint & Pere Marquette, i 25
27
Preferred.......................;* 96 V 97
Kan. City Ft. S. & G u lf.. S3
Preferred.......................¿130
K. C. Memph. & Birm. ..j ¿0
55
Kan. C. Spring!. * Mem. 82
Mexican Central..............
14% 14 7,
N.Y. * N. Eng., pref.......1 114
N orthern.........................| 140
Old Colony. ..................... 175V
Wisconsin Central_____
17%
Preferred..... ................'§........ 36
BONDS.
j
&tch. & Topeka—1st, 7s. 1191
Coll. Trust, 5s...............I 90 v
Plain, 5s.........................§ 88
M o rtg a g e e s................. I .......
Trust, 6 s . ..............
........ 105 V
Bast’rn, Mass__6s, new .. 120 121 I
SECU RITIES.
i . C Fort Scott & G.—7e
K.C. Memph. & Birm—5s
K. City rtp’d * Mem.—6s
i.C . Clmt. & Spring!.—5s
bittle R. * Ft. 8.—1
7b..
CiO'iisv.Ev.*St.L.—1st, 6s
2dmort., 2-6s............
Mar. H. * Ont__1908, 6s,
1925, 6s....................
Mexican Central—4 s .......
income........ ............
N Y. * N. Eng.—1st, 7 s "
1st mort., 6s..................
2a mort., 6s...................
Southern Kansas—5 s.."*
Texas Division—5 s .... ;
I n c o m e s ......___ . . . .
Wiscon. Cent.—1st ser.5s
2d series, inc., 7s...........
GAS COMPANIES.
Brooklyn Gas-Light........
Citizens’ Gas-Light..........
Bonds. 5s........................
Consolidated G a s.............
Jersey City & Hoboken...
Metropolitan—B onds......
Mutual (N. Y .) ..............
Bonds, 6s................. .....
N assau (Bklyn.)................
Scrip................................
Bid. Ask.!
100
50
100
75
160
114
80
100
95
95
[City HR. Quotations by
8l’okerS t.* Fult.F.—atk. 26
ls t mort., 7s, 1900 ...... 112
Sr’dway &7t,h A v.—St’k..
ls t mort., 5s, 1904 ........ 102
2d mort., 5s, 1914.......... 103
B’way Surface bds.,.1914 75
Bonds guar., 5s, 1905 ».. 70
Brooklyn City—Kt,nnk.
118
ls t mort., 5s, 1 9 0 2 ........ 106
3klyn. Crosstown—Stock. leo
ls't mort., 7s, 1888 ........ 102
Bnshw’k Av. (Bkln;—St’k 150
Central Crosstown—Stk.. 150
lst mort., 6s, 1922 ........ 116
0 mt. Pk. N.& E. R iv.-Stk 78
Consol., 7s, 1902........... L20
Ohrist’pb' r&lOth St—Stk. L22
Bonds, 7s, 1898............. 111
Dry Dk. E.B.& Bat’v—Stk 148
lst mort., 7s, 1893........ LIO
102
55
103
76
87
102
100
93
GAS COMPANIES.
People’s (Bklyn.)..............
W illiam sburg..................
Bonds, 6s........................
Metropolitan (Bklyn.)___
Municipal—Bonds, 7s.......
Faltón M un icipal...........
Bends, 6 s ......................
Equitable..........................
Bonds, 6s...... .................
1Bid. Ask.
61
115
106
77
105
125
105
100
110
62
120
111
80
110
130
109
110
118
H. L. G bah t , Broker, 145 Broadway.]
28 [i|D. D. E. B .& B .- ■icrip, 6s 104 107
114
Cighth A v.—Stot
155 160
175
Scrip, 6s, 1914.............. 108 110
104 ¡i 2d & Gr’nd St. F ’ry—Stk 200 210
105 V ( 1st mort., 7s, 893......... 112 117
80 I! 2d St. Manh. & St. N.Ave 36
41
80
1st mort., 6s, 1910........ 108 109V
121 1 2d mort., income, 6s...... S3
60
110
ioust. W.St.&P. F’v -S tk . 155
160
^_lst mort., 7s, 1894........ 110 i’i a'“
105
106 108
155 8
108 110
160
1st mort., 5s, 1 9 1 0 ........ 105 107
120
Oonsol., 7s, 1888 ...........
100
81
elisthA v.—S to c k ...... ... 160 17*
L21
1st mort., 78,1890 ........ 110 11*
125 1’bird Av.—Stock.............. 217 221
L13
Bonds, 7s, 1890............. 103 108
.52
T
215 220
L12V
1st mort., 7s, 1893
112 114
Unlisted Securities.—Quotations from both Exchanges:
SECURITIES.
Bid. I Ask.
SECURITIES.
Bid.. Ask.
Am. Bank Note Co........... 23 i 30
Mexican National tr. ree. 8
8V
Atlan, & Char.—S tock ... 82 V 1 87
1st mortgage, tr. ree.... 40
41V
A ll. & Char. A ir L., 1st, 7s 117V 120
New 1st 6 s ......... ..... 91*4 92V
At.&Pao.-lstM.C.D.o.d 8s 94 100 V Newp. N. & Miss. V a l....
Bost. H. T.& West.—Stk
26
N. Y. M. Un. Tei.—Stock. 77"
Brooklyn Elev’d—stock.. 40
North. Pac.—Div. bonds.. 105 106V
Cape Fear & Yad.Val., 1st 94
Ocean Steam.Co.,lst guar. 101 103
Chio. & Atl.—Ben,, tr. reo.
6
6 V Orange Belt 1st........ .*...
I hio. Gas Trust............... 37*4 38 V 1 Pensacola * A tlantic...
8
6V
Chic. Santa Fe & Cal. 5s..
1st m ort...,...................
93
Cinn. & Springfield.........
__
Pitts. & West. RR.—Stock 33
Cont. Cons. Co. Tr. stock.
1st mortgage.......... __
74
Den. & Rio Qr. W .—St’k. "l3*
Postal Telegraph—1st, 6s. 25
30
Dul. S. Shore & At.— Stk.
9
14
Hich. York Riv. & Ches.. 90
P H IL A D E L P H IA .
25 ¡3 0
Pref........................
Rome &Decatur,lstM., 6s
RAILROAD STOCKS.!
Edison Electric Light___ HO
St. Louis Ft. S. * Wich
9
Buff. N.Y. & Phil.,ass.pd.
Fla. R.y. & Nav. Co., pref.
2
3 St. P anlE .& G r.T r.,lst6s 98
99
Preferred.......................
Georgia Pac.—Stock........ 17
19. Southern Tel.—1st M....... 15 __ ^
Lehigh V a lle y ...........
55%
1st 6s............................... L06 107
Toi. A. A. & N. Mich........ 20
23V
Little Schuylkill........ . * 591?
__m
2ds...................................
48
Tol. & O. Cent., p ref.... 48
Northern Central.............$ 84 | 88 V
Henderson Bridge—Stock 97
C. S. Electric Lignt........ 30
40
Pennsylvania
54 V 54 V Kanawha * O h io ......___
Utah Central.—1 st.... . . . .
3*4 5
Phila. * Reading___" I ”
32»* 32 7c
1st pref..........................
13
Vicksb.* M erid ian .......
V
V
West Jersey................
59 j,
2d p r e f . ......................
5
8
Pref.................................
V
V
R AILR O AD BONDS'.'*
1st 6s............................... 65
80
1st mort.................... .
92 V
Allegh. Val.—7 3-1 Os. ’88 113 113V Kan. City & Omaha.........
5
2d mort.......................
43
7 ,E . ext., 1 9 1 0 .............. 110
1st m o r t ....................„ 74
75
In co m e s......___ . . . . . . .
5 .........
Inc. 7s, end., conn., ’94. 21
Ken|y Motor................. .
4
8 West Va. R R .—1st, 6s...
L e h ig li* Wilkes. Coal... 13
14 Western Nat. Bank........ 97*1 97*4
Ex-dividend. ! Per share, i Last price this week.
Mex. Nat.Construct’nC o. 24
26
West N. Car.—Con. M___ 85
83
[VOL. XTA T,
THE CHRONICLE.
72
fum strami
Latest E arnings Reported.
R o ads.
Week or Mol
1887.
1886.
Jan. 1 to Latest Date.
1887.
1886.
$
$
307,419
7,129!
6,760
Keokuk & W est. 4th w k Dec
1,311
3,189
Kingst’n & Pem. 3d w k Dec
36,997
45,304
K n oxv. & Ohio . O ctob er. . .
49,121 1,973,502 1,707,873
53,804
Lake E. & W est. 4th w k Dec
228,423
219,039
21,004
15,149
Lehigh & H u d ... Decem ber.
823,300
749,462
24,303
20,815
L. R ock & Mem. 3d wk Dec
3,239,485
2,994,627
44,742
50,902
The I n y e s t o b s ’ S u p p l e m e n t contains a complete exhibit o j Long Island....... 4th w k Dec
500,371
454,789
53,566
60,565
& Mo. Riv.. O ctob er.
839,955
the Funded Debt o f States and Cities and o f the Stocks and Lou.
17,773 1,008,044
27,809
Louis.Ev. &St.L. 4th wk Dec
377,665 10,026,181 13,978,734
442,000
4th
w
k
D
ec
Louisv.
&
Nashv.
B onds o f R ailroads and other Companies. I t is published
2,246.978
1,881,260
50,510
56,262
Lou.N.A. & Chic. 4th wk D ec
99.395 2,213.233 1.803.782
96,419
on the last Saturday o f every other month—v iz., January, Louisv. N.O. & T. 4th w k Dec
7181859
694,459
60,465
94,872
Lykens
alley.. November.
M arch, May, July, September and November, and is f u r - Mar. Col.V &
57,569
2,989
7,244
N o.. November.
983,215
1,061,278
11,135
13,740
nished without extra charge to all regular subscribers o f the Mar.Hough. & 0 . 4th w k Dec
38,942 1,740,469 1,444,638
39,130
Memphis &Chas. 4th wk D ec
3,857,706
4,879,524
C h r o n ic l e .
E xtra copies are sold to subscribers o f the *M exicanCent . 4th w k Dec 196,250 156,726
*Mex. N. (all Ins) Decem ber. 152,625 154,399 1,777,491 1,743,450
C h r o n i c l e at 50 cents each, and to others at $1 p e r copy.
51,095 3,175,077 2,317,801
50,383
Mil.L.Sh.&West. 4th w k D ec
646,226
972,025
15,182
24.445
Milwaukee & No 4th w k Dec
1,505,098 1,549,619
149,184
Minneap.& St.L Decem ber. 140,124
10,358
22,084
O
ctob
er..
Min.St.Ste.M
&A
RAILROAD EARNINGS.
540,092
19,879 1,504,557
44,016
Minn.&No.West. 4th w k Deo
445,985
510,529
18,316
18,106
Miss. & T en n .. . . 4th w k D ec
2,224,459
2,485,232
Mobile & Ohio .. December. 242,182 237,024
2,400,772
3,055,917
229,946
275,482
Gross Earnings to Latest Dates.—The latest railroad earn Nash. Ch.&St.L. December.
740,903
750,875
66,701
73,773
Brunswick. November.
ings and the totals from Jan. 1 to latest date are given below New
N.Y. Cen.. & H.R. December. 3,229,021 2,945,063 36,296,024 32,651,015
419,243
441,664
12,473
11,358
for all the railroad companies whose reports can be ob N.Y. City & N o .. Wk. Ocft 8 2,183,249
2,048,513 22,434,301 21,017,360
cN.Y. L. E. & W . November.
448,465 416,771 4,021,048 3,782,925
N.Y. & New Eng. Novem ber
tained.
33,107 1,548,580 1,338,385
38,670
N.Y. Ont. & W ... 4th w k Dec
129,904 107,735 1,259,536 1,016,894
N.Y.
Bus.
&
W
.
.
.
November,
Latest Earnings Reported.
Jan. 1 to Latest Date
58,946 4,219,711 3,252,058
80,285
N orfolk & W est. 4th w k Dec
494,786
499,960
47,237
45,297
R oads.
N’theastm (S.C.)'November
1886.
1887.
1886.
! 5,722,641 5,016,809
1887.
493,150
Week or Mo
542,158
Northern Cent’l. November
12,329,552
13,846,640
260,641
325,961
Northern
Pacific
4th
w
k
Dec
«
60,531 4,124,075 3,827,831
$
$
70.446
Ohio & M iss.......‘4th w k Dec
1,850,060 1,655,931 Ohio
195,465
330,316
4,453
7,100
A llegheny V a l . . N ovember. 173.830 160,623 16,954,644
R iv e r........4th wk D ec
14,455,577
508,757
1,715,554
595*443
1,646,310
32,839
62,675
A tch. T. & 8. Fe. November.
Ohio Southern. December
2,448,724
3,403,250
303,983
431,819
Atlanta & Char. November. 134,539 113,594 1,198,749 1,054.093
Oregon Imp. C o. O ctob er..
1,573,388
2,607,767
5,211,920
41.216
49,717
90,538 5,164,398
A tla n tic & P a c .. 4th w k Deo
O reg .R .& N .C o. 3d w k D ec 103,391
4,735,154 4,347,218 50,778,349 45,950,852
Balt. & P otom ac November. 128,816 118,192 1,326,349 1,235,019
554,230 P enn sylvania... November.
689,470
53.961
81,814
B eech Creek . . . . INovember.
Penn
.C
om
pany.
65,900 2,812,654 2,573,221
72,400
Buff. N .Y .& Phil 4th wk Dec
No. West. sys.. November. 1,617,159 1,382,981 16,913,364 14,118,258
44,490 2,000,405 1,445,612
53,639
Buff.Roch.& Pitt 4th w k D ec
So. West. sys.. November. 1,216,501 1,092,250 12,954,754 10,836,385
3,005,962
2,933,309
814,746
306,779
305,375
858,540
26,964
D
ecem
ber.
Bur.C.Rap.&No.
PeoriaD ec.& Ev. 4th wk D ec
27,525
658,815
760,148
326,177
17.216
17,860
326,276
28,300
Petersburg.........November.
31,404
Cairo V. & Chic. 4th w k Dec
1,478,404
740,698
3,407,310
17.216
3,708,294
38.899
338,027
4th
w
k
D
ec
Cal. Southern...
& E r ie ___November. 367,724
569,498 Phila.
644,920
31,810
34,618
2,034,084 20,187,417 18,190,101
ICamden & A tl’c November,
fPhila.
&
R
ead’g.
November.
2,098,095
Canadian Pacific 4th wk D ec 341.000 286,000 11,597,672 10,081,802
Coal & Iron Co. November. 2,222,796 1,887,462 18,083,282 14,501,154
205,883
249,947
21,408
26,959
Cp.F’r &Yad.Val N ovember
Tot. both Co’ s .. November. 4,320,891 3,921,546 38,270,699 32,691,255
50.962
57,173
Novemb'er.
45,158 2,034,820 1,597,629
Carolina C en t...
& West’m . 4th w k Dec
45,300
5,900,898 Pitts.
283,165
292,860
25,752
Central o f G a ... 3d w k Dec 126,209 109,995 6,414,387
P ’rtRoyal& Aug. November.
26,609
1,352,532
1,323,625
126,737
134,518
33,548
Central Io w a — Decem ber.
P t.R ’ al&W .Car. November.
33,908
971,048 1,049,806 9,597,422 8,779,529 R&W.P.Ter.Co—
Central o f N. J . O c to b e r...
Central Pacific. O ctob er... 1,333,101 1,141,081 11,190,643 9,940,703
Rich. & Danv. D ecem ber. 425,400 340,148 4,446,214 4,060,225
8,175
9,241
Central o f 8. C. November.
Va. Mid. D iv .. Decem ber. 131,100 120,513 1,650,315 1,566,330
446,205
433,081
40,574
783,443
42,910
860,981
67,304
Charlest’n & Sav November.
C. C. & A. Div. D ecem ber.
76,400
610,324
7,511
7,917
564,456
54,893
Cheraw & Dari. November.
Col. & Gr. Div. December.
62,800
3,755,867
4,099,351
535,965
358,551
412,123
682,140
42,165
Chesap. & Ohio. November.
WestN. C. Div. D ecem ber.
51,900
937,530
80.846 1,092,525
87,833
8.500
Eliz.Lex.&B.S. December.
W. O. & W.Div. Decem ber.
11,000
1,998,178
41,382
1,713,325
166,875
77,105
199,631
3,200
Ches. O. &S. W .. December
Ash. & Sp. Div. Decem ber.
7,200
6,163
7,402
137,400 8,222,306 7,575,364
Ches. & Lenoir.. November.
Total a l l ___ 4th w k D ec 154,000
6,565,102
7,392,907
193,452
808,942
210,584
17,332
Chic. & A lto n ... O ctob er. . . 903,372
Rich.& Petersbg. November.
20,175
59,897 2,194,783 1,677,046 R om e W. & O g .. November. 279,598 249,607 2.951.794 2,645,381
63,248
Chic. & Atlantic 4th w k Dec
154.899 142,901 2,134,200
50,612 2.205.794 1,876,495
Chic. Burl. &No. N ovember
USt.L.
Alt.
&T.H.
4th
w
k
Dec
64,036
803,991
958,765
25,427
Chic. Burl. & Q .. Novem ber 2,382,965 2,256,339 25,448,822 24,359,976
B ranches........ 4th w k D ec
27,400
40,914 2,058,307 1,782,200 St L. Ark. & T e x . 4th wk D ec
44,003
76,294 2,686,157 1,818,406
Chic. & East. 111. 4th wk Dec
80,805
415,626
4,874,627
13,637
13,829
6,215,579
4th
w
k
Dec
161,037
Chic. & Ind. Coal
St.L.& San Fran. 4th w k D ec 179,426
38,550 1,687,156 1,558,086
Chic. Mil. & St.P. 4th w k Dec 800.000 742,401 25,366,16^ 24,718,403 St Paul&Duluth 4th wk Dec
36,309
Chic. & N’thw’n. November. 2,650,190 ,362,609 24,949,163 23,174,294 St.P.Min. & Man. D ecem ber. 905,264 700,161 8,745,227 7,427,339
66,271
73,399 S Ant.&Ar.Pass. Decem ber.
9,169
4,143
571,125
23,759
Chic. & Oh. R iv . December.
70,359
561,803
655,500
65,647
Chic. St.L.&Pitts November. 494,217 436,202 5,284,753 4,372,892 .Scioto V a lley .. . . O ctob er. . .
75,802
7,043
10,845
73,814
Chic. St.P. &K.C. 4thwk Nor
Seab’rd
&
Roan
.'Novem
ber.
71,499
5,589,767
74Ò',654
636.122
6,344,018
718,933
904,640
54,315
Chic. St.P.M.&O. November,
Shenandoah Val December.
73,000
30,627 1,408,195 1,395,979 South Carolina . November. 119,674 113,609 1,094,494 1,022,630
28,648
Chic. & W. Mich. 4th w k Dec
2,354,586
2,444,135
61,429
62,030
Cin.Ind.St.L.&C. 4thwk Nov
Pacific Co.—
466,886
8,052
401,222 So.Gal.Har.&S.A.
7,864
Cin.Jack. &Mac. 3d w k Dec
November. 291,208 211,975 3,032.306 2,352,793
578,637
765,948
57,359
Cin. N. O. & T. P. 4th w k Dec 105,785 107,487 3,377,551 2,882,171
76,914
Louis’a
W est.. November.
46,059 1,575,816 1,215,195
58,521
Ala. Gt. South. 4th w k Dec
Morgan’ s L&T. November. 554,‘584 403,242 4,063,527 3,700,604
711,782
29.846
144,785
661,236
33,386
154,990
15,796
N. Orl. & N. E 4th w k Dec
13,157
N .Y .T . & Mex. November.
558,690
896,015
24,749
524,298
21,440
94,918 1,148,437
Vicksb. & Mer. 4th w k Dec
Tex. & N. O r l.. iNovember. 108,391
7,672,825
608,007
28,493
522,873
20,422
Vicks. Sh. & P . 4th w k Dec
Atlan’ c system'November. 1,044,255 783,290 9,165,289
21,532,787
24,652,822
2,117,351
Erlanger Syst 4th w k Dec 239,755 236,83E 6,832,047 5,805,974
Pacific system "November.
i r — ¡ ¡ i f 2,597,696
° KfVT
383,585
411,758
11,368
11,200
Cin.Rich.&Ft.'W. 4th w k Dec
Total o f a ll.. November. 3,641,951 2,900,641 33,818,109 29,205,612
95,968 102.122 1,183,684 1,130,324 So. Pac. RR.
Cin. & Spring’d. D ecem ber.
56,428 2,216,395 2,010,406
64,843
Cin.Wash.&Balt. 4th w k Dec
No* Div. (Cal.) O c to b e r... 162,778 170,541 1,447,398 1,335*421
2,643,033
561,092
12,858
542,916
15,733
Clev. Akron &Col 4th w k Dec
So. Div. (Cal.) O c to b e r... 432,397 245,110 3,419,580 1,261,328
345,161
31,292
327,719
33,682
Clev. & Canton November.
143,148 127,472 1,352,639
Arizona D iv .. October . ..
552,083
4,580,969
351,982
4,184,117
381,253
576,597
Decem
ber.
50,943
Clev. Col. C.& Ind
36,119
New Mex. Div O ctob er...
73,616
309,579
8,226
274,520 Spar. Un. & C ol. November.
69,763
9,779
9,687
Clev. & Marietta 4th wk Dec
10,558
788,313
852,581
18,736
November.
44,537
Coeur d’A le n e ...
50,515
Staten Is.Rap. T i Decem ber.
628,718
334,153
8,804
319,552 Summit, Branch November. 147,222
10,342
117,067 1,235,857
Col. & Cin. M id . 4th w k Dec
68,961 2,716,779 2,361,403 Texas & Pacific. 4th w k Dec 227,510 241,454 6,197,688 6,043,924
69,105
Col.H ock.V. & T 4th w k Dec
380,252
529,488
13,161
D env. & R io Gr 4th w k Dec 229,000 195,452 7,978,586 6,738,079 Tol.A.A.& N.M’ h 4th w k Dec
14.659
838,454
173,808
1,051,900 Tel. & Ohio Cent. 4th w k Dec
29,175 I ,
31,375
29,958 1,079,554
D env. & R. G. W. 4th w k Dec
31,333
882,295
466,667
24,542
242,017 Tol. P. & W e st.. 4th w k Dec
954,725
31,000
25,144
D et.B ay C. &Alp. Decem ber.
21,562
1,142,713
26,313,894
23,936,643
1,226,536
33,051
27,210
Det.Lans’g & No. 4th w k Dec
Union P a cific. .. November. 2,597,585 2,351,431
570,977
413,781
6,259
289,866 Valley o f O hio.. November.
12.264
601,160
Det.Mack. &Mar. 4th wk Dec
61,106
56,793
E.Tenn.Va.&Ga. 4th w k Dec 141,853 131,461 5,298,736 4,283,211 Wab. W estern... 4th w k Dec 156,602 146,488 6,473,459 5,579,219
234,814
196,771 Wab., E. o f Miss O cto b e r...
5,439
6,265
Evans. & Ind’plis 4th w k Dec
679,7531 652,020 5,763,941 5,620,129
868,937
15,579
759.379 tWest Jersey— .November.
19,2'
95,154 1,370,320 1,268,891
E vansv. & T. H. 4th w k Dec
98,959
614,678
63,514 2,563,077 2,160,773 Wil. Col. & A ug November,
678,224
68,001
64,217
F lint & P. Marq.. 4th w k Dec
74,006
588,114
966,254 W heeling & L. E. 4th w k Dec
33,104 1,061,888
26,894
744,169
Fla.R .& N av.C o. 4th w k Dec
19,182
22.659
1,565,312
717,635
8,139
445,481 W isconsin Cent’l 4th w k Dec
2,113,516
14,655
60,423
F t. W .& Den. City 4th w k Dec
56,658
844,544
24,747 1,254,424
660,147
27,271
20,230
G eorgia P a cific. 4th w k Dec
17,594
Chic. Wis. & M. 4th w k Dec
301,244
65,007 2,351,435 2,098,127
511,709
55,677
14,893
Gr. Rap. & In d .. 4th w k Dec
11,150
Min. St.C. & W. 4th w k Dec
176,253
9,503
47,542
14,897
Other lines . D ecem ber.
2,725
Penokee
Br
December.
199,738
18,063,009
17,153,225
333,098
313,500
9,465'
296,626
Wk.Dec.31
Grand T ru n k ...
8,437
Wis. & M inn. . 14thwkDec
420,967
316,004
36,725
34,377
G n.B ay W.&St.P November,
2,928,277
2,274,171
234,646
356,270
__ ____
* M exican currency.
^ ■
G u lf Col. & 8. Fe. December.
|And
branches.
56.540 104,410 2,807,142 2,932,259
Hous.&Tex.Cen. 3d w k Dec
e A fter deducting earnings paid over to leased roads operated on a per
144,341
14,028
144,288
15,692
Hum est’n &Shen November,
800,204
10,776,187 centage basis..
Hl.Cen. (111.& So) December 1,110,900 1,112,721 I I ,
106,872
15,892
159,126
10,5^0
Cedar F.& Min. N ovember
tN ot including Central o f N. J. in either year,
765,251
84,855
868,578
82,235
Dub.& SiouxC. November.
625,525
54,843
576,249
including Ind. & St. Louis.
67,128
Ia. Falls &S. C. November.
53,535 2,616,223 2,542,809
57,631Tnd. Bloom. & W. 4th w k Dec
170,219
11,622
100.380
18,560
Latest Gross Earnings by Weeks.—The latest weekly
Ind. 111. & Iow a O cto b e r..
411,634
61,297
449,098
30.540
Ind. Dec. & Spr. December.
50,612 2,205,794 1,876,495 earnings are separately summed up below.
64,036
Ind. & St. Louis. 4th w k Dec
402,173
38,624
252,459
35,492
Jack. T. & K. W . November.
N o t w it h s t a n d in g t h a t w e a r e c o m p a r in g w i t h h e a v y t o t a ls
70,505 2,711,856 2,524,380
69,536
K.C.Ft.S. &Gulf. 4th w k Dec
in t h e p r e v io u s y e a r , t h e e x h ib it o f e a r n in g s f o r t h e fir s t
2,033,205
1,561,416
52,547
57,382
4th
w
k
Deo
Kan. C. Sp. & M .
259,497
235,560 w e e k o f J a n u a r y s h o w s a v e r y la r g e in c r e a s e , t h e g a in o n
4,887
6,186
Kan. C. Cl. & Sp 4th w k Dec
71,4611 1,074,590
920,697 fo r t y - t h r e e r o a d s a m o u n tin g , t o - $355,889,.o r 16*75 p e r c e n t .
88,2591
K entucky C e n t. 'Decem ber.
AND
fXaxlrcrail Intelligence.
$
322,180
January
14, 1888.]
1st weeJc o f January.
TH E CHRONICLE.
1888.
Atlantic & P acific............
Buffalo Roch. & Pittsburg.
Canadian P acific...............
Chicago & A tla n t ic ..........
Chicago <fc East H i s .........
Chicago <fe Ind. Coal.........
Chicago Mil. & St. P a u l..
Chic. & W est M ichigan...
Cincinnati Rich. & Ft. W.
Cleveland & M arietta___
D enver & R io G r a n d e ___
Detroit Lans. & N orth ...
Evansville & I n d ............ j
E vansville & T. H ______
Grand Rapids & Indian a..
Lake Erie & W estern.......
Long Island........................
Louisv. Evansv. & St. L ..
Louisville & NashviUe__
Louisville N. Alb. & Chic.
Louisville N. O. & Texas .
M exican Central..............
Milwaukee L. Sh. & West
Milwaukee & Northern ...
New Y ork Ont. & W e st...
N orfolk & W estern..........
Northern P acific..............
Ohio & M ississippi............
Ohio R iv e r..........................
Peoria Dec. & E v an s.......
Pittsburg & W estern........
St. Louis Ark. & T e x a s...
St. Louis & San F ran.......
Texas & P acific’.................
Toledo A nn A. & No. M ich,
Toledo & Ohio Central .
Western N. Y. & P e n n ___
Wabash W e s te r n ......'...*
Wheeling & Lake E r ie ...
W isconsin Central...........
Chicago Wis. & M in n ..
Minnesota St. C. & W ...
W isconsin & M innesota
Total (43 roads).......
Net increase (16-75 p, c.).l
' 1887.
$
47,813
41,662
213,000
32,356
33,325
10,495
353,000
17,715
6,658
5,770
130,500
12,652
3,684
13,445
31,337
29,369
52,933
20,162
289,420
28,298
55,464
100,100
29,591
14,495
21,618
95,218
172,671
70,493
7,206
14,187
25,732
55,088]
82,786
137,777]
11,238
23,475
50,000
82,490
13,792
24,284
9,419
5,451
4,080
,480,249
Increase.
$
48;89i
27,87?
156,00< »
31,296
36,97*:
4,710
344,84E
16,977
6,245
4,786
118,506
15,62c
3,087
10,771
31,844
32,185
45,144
14,541
239,390
25,660
39,071
86,224
26,425
12,909
18,525
65,433
136,055
70,528
4,601
13,889
34,989
37,489
68,679
105,424
8,371
17,166
40,500
76,375
10,463
22,198
5,523
4,724
3,457
2,124,360
Decrease.
$
YE AR BEGINNING JANUARY 1.
$
1,082
13,787
57,000
1,060
........
__
........
3,649
5,785
8,155
738
413
990
12,000
2,971
597
2,674
507
2,816
7,789
5,621
50,030
2,638
16,393
13,876
3,166
1,586
3,093
29,785
36,616
............
35
2,605
298
9,257
17,599
14,107
32,353
2,867
6,309
9,500
6,115
3,329
2,086
3,896
727
623
376,206
355.889
20,317
For the fourth week o f December our final statement
covers 82 roads and shows an increase of 9‘80 per cent.
4 th week o f December.
1887.
'
$
s) 3,958,46:
.!
49,717
.]
38,890
105,785
Alabama Gt. Southern
58,52]
N ew Orleans & N. E ..
33,380
Vicksburg & Meridian
21,44(
Vicksburg Shrev. & Pa
20,422
Cin. Rich. & F. W ...........
11,200
Cin. Wash. &. B alt........
64,843
Cleveland A kron & Col.
15,733
Col. & Cin. M idland___
10,342
31,375
Detroit Mack. & M a ro...
12,264
East Tenn. Va. & G a .......
141,853
68,001
Florida Ry. & N a v ....... .
26,894
Georgia P acific..............
27,271
Grand Rapids & In d ___
55,677
Grand Trunk o f Canada
313,500
Kansas C. Ft. S. & Gulf ..
69,536
Kansas C. Spr. & Mem . . .
57,382
Kansas C. Clin. & Spr ...,
6,186
Keokuk & W e s te r n ......... .
6,760
Marquette Hough. & Ont
13,740
Memphis & C harleston...
39,130
Milwaukee & N orth ern ..
24,445
M innesota & Northwest.
44,016
Mississippi & Tennessee..
18,106
Richm ond & D anville.. . . .
77,500
Virginia Mid. D iv ..........
31,300
Char. C. .& A. D iv ....... .
16,700
Col. & Gr. D iv ________
13,700
West North Car. D iv ...
10,900
Wash. O. & W. D iv .......
2,700
Ashv. & Spar. D i v ....
1,200
*St. L. Alt.& T. H., M. Line
64,036
St. L. Alt. & T. H. Brchs
27,400
Texas & P acific...............
227,510
Tol. Peoria & W estern...
21,562
W isconsin Central...........
56,658
Chic. Wis. & M .........
17,594
Minn. St. C. & W .........
11,150
Wis. & M in................
8,437
Atlantic & P acific..,
California Southern.
Total (82 roads)............
Net increase (9-80 p. c.)
5,933,232
............
1886.
Increase.
$
3,510,96:
41,21€
17,216
107,487
44,550
29,67c
24,64£
28,692
11,368
56,428
12,858
8,804
29,175
6,259
131,461
63,514
33,104
24,747
65,007
333,008
70,505
52,547
4,887
7,129
11,135
38,942
15,182
19,879
18,316
73,000
25,200
14,400
13,100
9,400
1.700
600
50,612
25,427
241,454
25,144
60,423
20,230
14,893
9,465
5,403,837
1,702
3,209
8,270
168
■Oct. 1 to Nov. 30.
1887.
1886.
$
$
595,589
5 4 8 ,9 5 0
295,654
279,525*
ANNUAL REPORTS.
Philadelphia & Reading.
(F o r the yea r ending November 30, 1887J
The first annual meeting of this company, under the new"
reorganization was held in Philadelphia, Jan. 9. The vote for
369 officers and managers resulted as follows: President, Austin
Corbin. Treasurer, William A. Church. Secretary, W m . R,
Taylor. Managers, A. J. Autelo, Samuel R. Shipley, Thomas
Cochran, George de B. Keim, Stephen A. Caldwell and George
210
J* ^ er* This ticket was elected by a unanimous vote o f
794,895 shares, within about six thousand of the entire num
ber of shares of stock. Mr. Austin Corb’n read the annual!
report, from which extracts are made below.
2,605
188
9,263
24,137
4,500
6,100
2,300
600
1,500
1,000
600
13,424
1,973
COAL AND IRON COMPANY.
13,944
3,582
3,765
2,636
3,743
1,028
92,482
The coal tonnage of the Coal & Iron Company for 1886- 7
was as follows :
_
1886
1887
M ined by the
Company.
........................5,616,363-04
....................... 6,279,852-03
$
2,700,587 2,626,530
665,647
704,225
1,798,547 1,546,450
734,413
580,369
2,134,200
507,837
7,269,286 6,102,864
3,008,899 2,250,151
M ined by
Tenants.
592,839-03
621.644-09
Total.
6,209,202-07
6,901,496-1
This compaiison of average prices obtained for coal per ton
at mines in different years is important: 1881, $1 91; 1883»
i 8 8 r li 8P95 $186’4; 1834,
, -Jan. 1 to Nov. 30.-1887.
1886.
$
/------- November.------ ,
1887.
1886.
$
$
279,598 249,607
131,906 119,917
’ 9^330
19,598
969
YE AR BEGINNING JANUARY 1.
- November.-------,
1887.
1886.
$
$
299,589 290,670
109,886
98,302
209,140 178,983
73,700
78,563
154,899 142,901
7,999
47,260
750,428 648,907
305,504 253,170
YEAR BEGINNING OCTOBER 1.
6,210
. Net Earnings Monthly to Latest Dates.—The tables follow
ing show the latest net earnings reported this week, the
returns for each road being published here as soon as received,
but not kept standing from week to week. The first statement ^eludes all roads for the latest month and from January 1, 1887; following that we give the totals for the fiscal
year on those companies whose fiscal year does not correspond
with the calendar year.
Roads.
Burl. C. R. & N o ....... Gross.
N e t...
Ches. O. & Southw’n. Gross
N e t...
Chic. B. & N orthern..G ross.
N e t...
D enver & Rio Grande.Gross.
N e t...
•------ November.-------, <-Dee. 1 to Nov. 30.—,
1887.
1886.
1886-7.
1885-6.
$
$
*
$
2,098,095 2,034,084 21 ,764,13119,838 8 7 8
1,103,186 1,288,97111,185,571 8,576’ 2052,222,796 1,887,462 19,425,807 15,846,412
373,147
687,677 1,448,4 8 3 d .l,147,054
4,320,891 3,921,546 41,189,938 35 ,6 8 5 ,2 9 0
1,476,333 1,976,648 12,634,054 7,429,151
Roads
R om eW . & Ogdensb.Gross.
N e t...
2,524
621,877
529,395
..... J
$
8,415
"2,875
1,538
2,200
6,005
10,392
4,487
4,835
1,299
„
,
Roads.
Phila. & R eading.......Gross.
N et..
Coal & Iron C o.........G ross.
N e t...
Both com p a n ies....G ross.
N e t...
13,749
13,971
3,713
-November.-Jan. 1 to Nov. 30.1887.
1886.
1887.
1886.
Roads.
$
$
$
$
Det. B. C. & A lpena. .G ross.
31,093 28,807
495,667
217,475
N e t...
13,666 15,408
193,222
116,904
K entucky Central___ Gross.
101,838 84,185
986,331
849,236’
N e t...
48,756 31,374
423,897
312,192"
M exican National . . Gross. 18 1,70 2 144,750 1,624,866 1,589,051:
N e t ...
28,140
15,428
193,500
288,043-'
Minn. & St. Louis___ Gross.
147,684 161,854 1,364,974 1,400,435^
N e t...
59,260 67,920
407,614
451,468
New Brunsw ick.........Gross.
73.773
66,701
750,875
740,963
N e t ...
23,899
20,521
........
Phila. & R eading....... Gross. 2,098,095 2,034,084 20,187,417 18 190 lOT
N e t... 1,103,186 1,288,971 10,517,279 7]845*428Coal & Iron Co....... Gross. 2,222,796 1,887,462 18,083,282 14,501.154
N e t... 373,147 687,677 1,470,1 3 3 d .l,071,483
Total both Co’s ....... Gross. 4,320,891 3,921,546 38,270,699 32,691.255^
N e t... 1,476,3331,976,648 11,987,412 6,773,94£>
R om eW . & O g .......... Gross. 279,598 249,607 2,951,794 2,645 381
N et..;. 131,906 119,917 1,323,994 l ’ l7 0 ,0 4 0
San Ant. & Aran. P ..G ro ss.
75,445
23,184
500,292
N e t...
23,377
13,235
191,229
Southern Pacific Co.—
Gal. H. & S. A .........Gross. 291,208
211,975 3,032,306 2,352,793=
N e t ...
86,709
3,730
599,466
261,445Louis. W estern........Gross.
76,914
57,359
765,948
57 8,62 7
N e t ...
41,864
31,254
376,049
294,005M organ’s La. & Tex.G ross. 554,584 403,242 4,063,527 3,7 00,6 04
N e t... 249,036 156,035 1,056,724
86 7,892
N. Y. Texas & M ex.G ross.
13,157
15,796
154,990
144,785
N e t ...
1,469
3,883
18,842
8,460T ex as& N . Orleans.Gross. 108,391
94,918 1,148,437
896,015N e t ...
40,091
43,679
524,963
383,190*
Atlantic system ___Gross. 1,044,255
783,290 9,165,289 7,672,825*
N e t ... 419,168 238,581 2,576,044 1,813,999
Pacific system .........Gross. 2,597,696 2,117,351 24,652,822 21,532 787
N e t... 1,063,255 857,131 11,229,556 10,5 6 L 0 4 9
Total w hole system . Gross. 3,641,951 2,900,641 33,818,109 29,205 612
N e t... 1,482,423 1,095,712 13,805,600 12,375’0 4 8
<-------- October.-------- ,
-Jan. 1 to Oct. 31.„
1887.
1886.
1887.
1886.
Roads.
$
$
Chicago & A lto n .......Gross. 903,372
808,942 7,392,907 6,565*102:
N e t... 387,004 363,503 3,272,222 2,8 4 8 ,3 0 4
YEAR BEGINNING DECEMBER 1.
Decrease,
$
461,249
8,501
21,683
73
811; 1885,
65S; 1886, $1 53 ^
The profits of the Coal & Iron Company in the following
years were : 1884, profit, $841,923 ; 1885, loss, $124,679 ; 1886*
loss, $1,147,053; 1887, profit, $1,448,482, During 1887 the cost
of mining coal per ton decreased 6 9-10 per cent on 5,730,278
tons, equal to $398,069. Iu consequence, a loss of $1,147,053
for 18;6 is transferred into a profit for 1887 of $1,448,482,
making a net increase of $2,595,536. During 1887, $543,860
was expendtd at the collierifs for improvements and deaid
work, from which $318,452 should be deducted for deprecia
tion, leaving $225,408 of expenditure charged to mining and
operating expenses instead o f the capital account as hereto
fore. The coal company’s interest account shows a decrease
of $190,411 from 1886, Early in the year it was decided to
abolish the system of obtaining advances upon coal and to
insist upon coal being paid for on delivery. The result is
shown by these figures : Bills receivable discounted, 1886.
$9,992,464; in 1887, $2,067,933; decrease, $7,924,530.
DEBT AND LIABILITIES.
The statement of the floating debt and current liabilities o f
the companies at the close of the fiscal year, Nov. 30, 1887*
TH E
74
CHRONICLE.
[Vol, XLVL
130088 EARNINGS ANDjlNCOME ACCOUNT.
^excluding the matured rentals and interestjwhich are pro *Phila. dt Reading R R .—
vided for under the plan of reorganization), as compared with R ailroad.............................................
Canals.................................................
■the liabilities of Nov. 30, 1886, is as follows:
Floating debt
and Receivers’
Certificates.
1886.
R ailroad o o m p a n y .... . . . . $9,560,175
.
.
.
.
1,855,362
Goal com p an y...............
T ota l........................ ___ $11,415,538
1887.
$17.000
Railroad com pan y___ .......
None.
Goal com pan y...............
$17,000
T ota l........................ .......
Decrease In 1 8 87....... ........ $11,398,538
Total.
Current
Inabilities.
*16,741,482
1,622,252
$26,301,657
3,477,615
$18,363,735
$29,779,273
$5,214,298
987,128
$5,231,298
987,128
$6,201,426
$12,162,308
$6,218,426
$23,560,846
1886-87.
$20,359,882
346,826
472,311
91,576
492,334
Steam c o l l i e r s . ...... . . . . . . . . . . . . . .
Richm ond coal ba rg es....................
Incom e from stocks and bonds . . .
Total earnings RR. C o............
Expenses, not incl. rentals & int.
Net earnings R R . Co...................
Phila. & Read. Goal dt Iron Co.—
Land department...............................
Coal department.................................
Iron ore departm ent..........................
Rolling m ill department...................
M iscellaneous.....................................
$19,836,685
11,354,028
"$21,762,929
10,781,357
$8,482,657
$10,981,572
$221,555
15,420,803
3,406
1,706
198,941
$241,216
18,856,550
22,917
351
304,773
The floating debt at the close of 1886 included $7,795,754 ijBIlr l# 4W
$19,425,807
$15,846,411
Total earnings Coal & Iron Co.
secured by collaterals, $3,619,781 of receivers’ certificates and Operating
17,977,325
16,993,466
e x p e n se s........................
other receivers’ obligations and rental and interest provided
Net earnings Coal & Iron C o.......... Loss $1,147,055
Proüt $1,448,482
for under the reorganiz ition.
The R ^construction Trustees received from assessments on Net earnings R R . C o..........................
$10,981,572
$8,482,657
Profit $1,448,482
stock and junior securities $12,028,552. After paying out of Net earnings Coal & Iron C o .......... Loss $1,147,055
this sum the floating debt, receivers’ certificates, syndicate
$12,430,054
$7,335,602
Total net both companies
commissions-, the expenses of the Reconstruction Trustees, and
Deduct—
$3,300,383
$3,620,939
after purchasing various securities, $1,578,312 was paid to the Rentals RR. C o........................ .
5,478,132
6,222,863
receivers for the u°e of the company. The payment of the Interest RR. C o ......... . . . . . . . .
794,272
984,684
Interest Coal & Iron C o..........
floating debt released collaterals which have been returned to
the company, amounting at par to $9,208,655, exclus
Total deductions.........................
$10,828,486
$9,572,787
ive of coal company stock, par value $ 8,000,000.
Balance, both com pan ies.... Deficit $3,492,884 Surplus $2,857,267
The market value of the first named securities is
The following table presents a comprehensive exhibit of the
$8,666,097. The companies also hold securities of a traffic and joint earnings of the Railroad Company an4 the
market value of $1,919,320. This statement of securities Coal & Iron Company for the last eight years (excluding the
excludes the companies’ issues of income first and second business arising from and during the lease of the Central Rail
series bonds, $6.294,500, which will be canceled. Liabilities road of New Jersey):
amounting to $823,200 remain unadjusted. The available cur TRAFFIC AND EARNINGS OF RAILROAD AND COAL &7IRON COMPANIES.!
rent assets of both companies exceed the liabilities by
$2,623,450.
OulpU o f
Xt
At the close of the year the companies had, exclusive of
Cross re Net e’rnings
Coal carried M’rchandise coal fr o m
ceipts both o f the Read
lands o f
carried one
(tons o f
funded debt and $823,000 of unadjusted current liabilities,
ing RR. and
companies.
Coal
dt
I.
mile.
2240
lbs.),
cash, $3,395,441; bills receivable (absolutely good), $1,094,116:
Coal dt Iron
Co., tons
one mile.
moneys due for coal delivered (dnce paid), $2,285,847; coal on M S
c .mpanies.
2240 lbs.
hand (mined and paid for), $316,581; freight and tolls, accounts
$8,861.138
$32,177.003
4,696,106
518,859,3481253,309,495
1880...
due by connecting railroads, etc., $1,749,889; total, $8,841,876.
533,689,725 303,460.473
5,422,600 35.2 36,463 10,051,888
There is, however. $1,480,000due the Drexel-Morgan syndicate 1881...
5,624.789 37,300,162 10,647.770
1882... 628,975,470,327,347,373
for interest paid by them on the general mortgage and $922,- 1 8 8 3 .. 713,984,492
6,074,131 40,045.615 11,855,181
305,871,807
.
8,950,554
5,672,6-*4 37,009.753
71
.
770 is due to holders on the sterling scrip. The plan provides 18 84.. 58-',980,5251319.279,8
7,926,304
665,018.573
359,526.194
6,040.178 34,^43,501
1
8
8
5
..
.
for the issue of $4,680,000 of general mortgage bonds to cover 1 8 8 6 .. 727,179,162
35,683,096
7,335,603
6,20
1,202
398,862,487
.
this indebtedness.
6,901,497 41,188,737 12,430,054
1837... 1835,308,6971444,614,423
The plan has been assented to by hoi lers of securities of the
The average annual net earnings of the railroad and coal
company and other lines embraced in its system, as follows:
Totals of all obligations of the companv, $132,873,400; de companies from 1880 to 1887 were $9,757,811.
posited, $125,360,725; outstanding, $7,512,675. Of this latter
GENERAL IN V E STM E N T N EW S.
amount, however, the company can pay off at any time
$5,735,222.
B rooklyn Elevated.—The Brooklyn Elevated Railroad
PLAN OF REORGANIZATION AND FIXED CHARGES.
stockholders have elected the follo wing directors : H mry W .
The plan of reorganization provides for these four mort Putnam, Henry W . Putnam, Jr., Frederick Uhlmann. Ed
gages: the general mortgage 4s and the first, second and third ward Lauterbach, Stephen Pettus, Isaac Lewis, Hugo Rothpreference income mortgages. All are upon the whole prop child, Simon Uhlmann, Adolf Ladenburg, A. J. Hirdenerty and franchises owned or controlled or hereafter to be bergh, Elbert Snedeker. H. W . Putnam is President; Stephen
acquired of both companies, and only the general mortgage Pettus, Secretary and Treasurer.
bonds issues prior thereto bear cumulative interest, the other
Cedar Falls & Minnesota.—At a meeting of the bondholders
mortgages bearing interest at 5 per cent only as the companies
non-accumulatively earn such interest. Of the first prefer of this railway company, held at the office of the Mercantile
ence bonds $12,463,942 are to be applied to repay assessments Trust Company on Saturday, Jan. 7,1888, there was appointed
of stock and bondholders under the plan, and $11,946,880, in a committee to act in the interest of the bondholders and to
case the general mortgage bonds are not paid off before July resist the attempt upon the part of the Dubuque & Sioux City
1, 1888, are to be used to pay the holders of these bonds as Railroad Company to escape from its obligation under its
compensation for reduction of rate of interest and for accrued lease with the Cedar Falls & Minnesota Railroad Company.
interest. It is expected, however, that the new 4s will obviate Bondholders are requested to join and to deposit their bonds
the necessity of the latter clause. The annual charges of the with the Mercantile Trust Company. The committee is as
follows: Louis Fitzgera'd, Charles T. W ing, Frederick W.
company will be:
Foote, Simon Borg and Charles Wehrhane.
RAILROAD COMPANY.
Rent o f leased lines, e t c ..................................... ........................... $2,844,935
Columbus Hocking V alley & Toledo.—At'Columbus. O Jan.
Interest charges on funded debt .................................................. 3,953,167
Interest charges on real estate bon ds...........................................
153,063 10, the annual meeting was held and the following directors
elected: Charles Crocker, H L Terrell, John Newell, Jay O.
T otal fixed ch a rg e s........................................................................ $6,951,165
Moss, D. W . Caldwell, John W. Shaw, William P. Shaw. The
COAL & IRON COMPANY.
Interest on divisional m ortgage b o n d s .................................. $814,540 00 action of the President was approved. The road was shown to
Interest on real estate bonds and m ortgages..........................
36,457 34 be in a good condition by the following statement: Net
revenue, 1886, $2,436,183 ; 1887, $2,617,794; increase, $131,611.
T ota l.............................................................................................. $850,997 34
Total annual charges o f both com panies.............................$7,802,162 00
Various items, to the amount of $20,043,775 83 for the rail
road company, and $13,301,740 for the coal company, which
have been carried as assets on the books of the companies
have been closed into the capital accounts. The report
mentions the withdrawal o f the Jersey Central from the
system, and states that amicable relations exist between
and the Reading.
TRAFFIC AND INCOME.
The accounts of traffic, earnings and income have been
compiled for the Chronicle in more complete shape than in
the brief report.
TONNAGE AND PASSENGERS.
1885-6.
T ons o f coal carried on R R ..........................
8,723,018
T o n s o f merchandise carried on R R .............. 8,762,720
R assengers carried on R R ............ ............ . 15,028,434
-Tnna
nna.1 carried lw
o llie r s ______
5 2 4 .4 4 3
524,443
T
ons n
o f coal
by steam
steam ccolliers...........
1886-7,
9,628,769
8,859,1<
15,678,71
479,655
'Tons o f coal mined by Coal & Iron C o . . ___
T o n s o f coal mined b y tenants.....................
6,279,85
621,644
5,616,363
592,839
Total mined from lands owned and con
trolled b y Coal & Iron Co. and from
leasehold estates............................ ......... 6,209,202
6,901,496
N ote .—Coal 2,240 pounds per ton; merchandise 2,000 poimds per ton.
D etroit Bay City & Alpena.—A preliminary statement for
1887 shows the following :
Gross ea rn in g s.................................................................................................. m
Operating expenses.......................................................................
oa
Net earnings.....................................................................................................nn
F ixed charges for the 12 m onths................................................ 133,000 o o
Surplus........................ ................................................................
$67,498 91
Dulnth South Shore & A tlantic.—The track-layers have
met at the bridge over the south branch of the Ontonagon
River. This completes the line from S-mlt Ste. Marie west
ward, and by the connection made by the international
bridge across the Sault gives a through line between Montreal
& Duluth. Vice-President Calvin S. Brice is reported as stat
ing that the company now controls a stretch of completed
line from the Sault Ste. Marie to Dogwood, a distance of about
'400 miles. Twelve miles of track have been laid from Dog
wood toward Duluth, but work on this section has been sus
pended for the season. Grading is completed to a junction
with the tracks of the Northern Pacific Railroad between Du
luth and Ashland, it being probable that the latter company’s
line will be used for a time as the South Shore road’s Duluth
connection. It is expected that the forty miles remaining ta
Jan u ary
14 1868.J
THE CHRONICLE*
75
complete the line will be laid with rails early in the spring, provement?, extensions, etc. The protest declares the proposed
g m p g th e new line an independent outlet at Dulu h. Mean
f* llIeg^l* th? re, bei ig no power vested in the
while the Company will do but little through business in con ex-officio directors
or the stockholders to make such an issue
nection with the Northern Pacific, but will endeavor to still for any such purposes. The protest embodies at length
further develop the local business which it obtains from the several ° f the clauses in the lease o f August 1,1884, between the
lumber and ore districts through which it passes. Mr. Brice New York and Manhattan companies, and declares that under
f^ates tkafc
arrangement between the 8outh Shore and the the terms of this lease or contract the present mortgage loan
Michigan Central roads is already in effect, two transfer boats cannot be taken up, except under certain conditions that have
now being employed in the Straits of Mackinaw.
not been complied with.
F iorida R ailw ay & Navigation.—The Florida Central &
When the vote on the proposition was called Vice-President
Western Division of the Florida Railway & Navigation Com- Gallaway started to vote the 63,937 shares of the New York
FuDn u 1 k® 8old at receiver’s sale at Jacksonville, Fla., on Elevated held in the treasu-y of the Manhattan Elevated in
the Vth of next month. The division is 241 miles long (in
n® Proposition. This brought forth another protest
cluding branches) running from River Junction to Jackson- from the Quigley people, who demanded that the tellers throw
Tl“ e* ,Ifc » supposed that it wilt be purchased by the S .vanb“ t,lti W1aSi°f. no avaiI>and the tellers recorded
nah Florida & Western people, who hold the $1,000,000 of fh i w o 0
in wa u The total stock 188ue of the New York Elevated is
Class “ A ’' bonds.
b5;000 shares, so there were only 1,056 shares not voted. O f
ar?v however, $2,000,000 second mortgage bonds and
$i,ouu to the mile of receiver’s certifiotes, and the second h 0SV h® Qu,g e y Party voted 810 shares against the proposiS’ t e f t n 6 8han ’
whLch 100 are held in the name
a ^ 6 ln^eres^ *8 endeavoring to raise money to pay off the
certificates and first mortgage, principal and interest, and terffig amounts, & C0'’ Whlle the others are held in sma11 scafcretain control.
M arietta & North Georgia.—This railway company has
F ortW orth & Denver City.—The entire line from Fort Worth made arrangements for the extension of its line and the
to the Texas and New Mexico State line, a distance of a little widening of its gauge to standard. Last week the sale was
i? 7e„ 7 r miIe8> will be completed by January 15. The D aily negotiated of $ 1, 000,000 o f the company’s consolidated first
B ulletin reports: The track of the Denver Texas & Fort mortgage bonds to London capitalists, and a little over $1,000,Worth Railroad, which will connect with the Fort Worth &
takenu ^7
York and Georgia syndicate, at the
JJenver City at the New Mexico border, is completed on the
b
r
i
r
°
L
i
ICh
+
n
r*
Jam
Jackson* a bond and stock
North to Pueblo, Col., and as far south as Trinidad, Col. broker of Augusta, Georgia.es There
remains about $1,000 000
ifiere is now under construction a section o f twenty miles from winch the company expects to sell soon. The road will now
lrimdad south, and grading for the entire distance through be pushed to completion as rapidly as possible. The narrow
New Mexico will be finished by the 15th of the present month. KrUafu
th.®Presmt line between Marietta, Ga , and Murphy
Ibis leaves about 115 miles to be l ui t in order to complete the North Carolina, will at once be made standard, and the extenthrough line between Fort Worth and Pueblo. The officials
from Murphy to Knoxville, Tennessee, and
of the company will not state when the existing gap will be also southward from Marietta to Atlanta, Ga., Will be built as
closed, but say that it will be abe ut February 15, in case no soon as possible.
crmcutties at present unforeseen are encounteied.
Mexican International.—This railroad (not the Mexican
L ouisville & Nashville.—The directors o f the Louisville & National) has been completed from Eagle Pass, Texas, through
Nashville Railroad Company adopted the report of the special
fn S l dp ’ f°n phtrMe^ 1Cdn Central> o p e n i n g another route
CFm. T , ! e
was referred the memorial of London to the City of Mexico over the latter read.
st ickholder^advising that the company’s surplus earnings for
Milwaukee & N o rth e r n .-A n approximate statement for
tnreo years be invested in extensions and improvements, and 1887 compared with the two preceding years is as follows :
mat stockholders be given their djies in stock dividends. The
1885.
1886.
1887.
report of the committee remarks that out of sixty-three names Gross earnin gs..............
$646,226
$9 72,000
signed to the memorial eighteen alone represent about 25 per Operating e x p e n s e s .........
414,141
633,000
cent of tfce entire capital stock. “ It appeals from the books.”
Net e a r n in g s ...........
$232,085
$339,000
says the report, “ that the results of the operations of the com- First charges............... .
iiec7
1887 (Nov.
mSnvhalfH°-n
th®
fi8? alestimated),
year’ viz- are
fromasJuly
1 to
nee. 31r
dl, 1887
and Dec.
partly
follows:”
Gioss
Tnlv i s s v
jKar/uwfirs.
Expenses.
$784,358
A m IsM S O T ........................................ $1,326,663
Sentemb er ^1887.................................
»17,098
^ # 3 7 ,9 0 8 842,251
O c t S 1887 87...........................
Net
Earnings.
$542,305
552,463
595,657
” * ---------- r-----
2,388,668
Surplus...............
200,961
20 9,54 0
$31,124
$129,4 60
Mississippi & Tennessee.—The stockholders o f this Company are notified that a general meeting of the stockholders
of said company will be held at the office of the Secretary and
Treasurer of the company, in Memphis, Tenn., on January
s o „ ,>S ! l '8 7 « v t i m a « i : : : : : : : i g f ®
|||||| 25th, to consider and act upon a general mortgage on all the
December, 1887 (estim ated,........... 1 1 3 5 000
865,’000
570 000 property and rights of the company, securing $>,500,000 4 per
cent bonds, and such other business as m iy come before them
_ Totala............................................. $8,609,736 $5,094,096 $3,515,640
at said meeting.
Other income.............................................. i|.................... ^1’26l’972
T o t a l ...........................................................................................$1,388,944
From this amount the following payments were made:
Sinking fund L. & N. RR ., including car trust....... $340,170
Sinking fund So. & No. A la b a m a R R ......... . . . . . . 103,064 "
$443,234
Advances to S. <fc No. Alabama R R ....... . . . .
$114 93Q
Advances to C. & O. Southern D i v i s i o n .. .......’ ”
8’ 800
Advances to C. & O. Northern Division............
12*997
Advances to PensAcol a & A tla n t ic .............. ...III! 118'989
20^000
Estimated loss on Georgia lea se...............................I
•------- -----Leaving as a bal anc e.
1 ‘ioo7
.
$
6
6
275,725
9
985
reP011of the compa ny for the fiscal year ending July
1 , 1887, it is shown that the cost of the road and branches is
largely m excess of the present capitalization, and that the
latter may therefore legally be increased.”
In accordance with the committee’s recommendations, the
directors passed resolutions making a dividend of 2 per cent,
payable m stock to stockholders of record February 15, 1888
provided the stockholders, at a meeting called for that purpose on February 21, shall, by proper resolutions, increase the
+fc°
f<?r ^ a t purpose. The board further recom
mended to the shareholders the approval of the policy indi
cated in the memorial and in the report of the committee as
to the payment of dividends.
Manhattan Elevated.—A special meeting o f the stockholders of the New York Elevated Company was called by
the directors of the Manhattan to ratify a proposed mortgage
loan of $.5,00° ,0()0, t° be piaced on the property o f the New
York Company. Certain of the Elevated stockholders who
objected to this appeared at the meeting with counsel and filed
their protest against the proceedings.
. T ^ P ^ P ® 86 °? raising this lean o f $15,000,000 was stated
to be, first, to retire the $8,500,000 present mortgage on the
E f f l S M S S * N.eW* Y ° r5 EleVated road 5 Eecond, to take up
on thl’ N 0,
the ^ ’000’000 of debentui e bonds placed
r n ™ ? X ° ? E]evatedJ?y the directors of the Manhattan
third, to pay eff the floating debt of $1,500,000,
and then to use the remaining $4,000,000 as needed for im
New York Ontario & W estern .-T h e stockholders of the
New York Ontario & Western Railway Company will have
an important matter to vote upon at their annual meeting
next week. President Thomas P. Fowler has agreed upon a
contract with Pr. sident Chauncey M. Depew of the New York
Central R ad, the provisions of which are extremely favorable
to the Ontario & Western interests, and the Ontario and
Western s Directory voted to confirm it, as the shareholders
are pretty sure to do at next week’s meeting. This new con«
tract supersedes the contract of January 1,1886, which at the
last annual meeting the Ontario & Western stockholders
refused to ratify insisting that it was not sufficiently favorable to the New Y oik Ontario & Westcriii
President Fowler gives a resume of the good results to come
to the Ontario & Western from the new contract. The last
complication o f the company in connection with its Weeha wken terminals is disposed o f by payment of the claim of the
Continental Bank, by which $105,000 o f the company’s first
mortgage bonds are now tied up as collateral. There is also to
be a payment to the Ontario Company of $148,000, half in cash
and half to be credited to trackage and terminal charges durmg the coming four years. Then there is a modification of
the basis on which train mileage is to based after Jan. 1, 1896
so that from that time the Ontario Company will pay for thé
use^of the road south of Cornwall the proportion of the cost of
maintenance that the mileage of trains shall bear to the
entire tram mileage on that portion of the road, and the same
***
4 Per c?nt Per annum, on
$3,000,000 (m place of $5,000,000, as provided in the original
agreement), and on euch sums as m iy be ac-ually expended
for necessary improvement© after January, 1880. The contract also includes arrangements in regard to train service
M3uth of Cornwall, which it is believtd will prove of mutual
advantage.
New York Stock Exchange—New Securities Listed.—The
Governing Committee of the New York Stock Exchange ha®
listed the following securities:
S t . P a u l & N o r t h e r n P a c i f i c R a i l w a y C o m p a n y ’ s addi
tional issue of general mortgage 6 per cent bonds, $450,000,
making total amount listed $6,750,000.
. D e t r o i t B a y C i t y & A l p e n a R a i l r o a d C o m p a n y ’ s addi
tion« 1 issue of first mortgage bonds, $200, 000, making total
amount listed $2,500,000,
6
r,TFTE CHRONICLE.
[V o l ,
XLVI*
St. Louis Arkansas & Texas.—It is reported tbat the syndi
Oregon R ailw ay & Navigation Company ’ s additional issue
x>t consolidated mortgage 5 per cent bonds, $481,000, mating cate which last summer purchased $4,000,000 St. Louis Arkan
sas & Texas first mortgage bonds, issued by the company to
total amount listed $9,618,000.
construct various branch lines, has disposed of the balance to
Ohio & M ississip p i—A meeting of the committee appointed a syndicate of bankers in Berlin. Application has already
b y the preference shareholders of the Ohio & Mississippi!*aff been made to list the bonds at the Berlin Exchange.
r a y was held on December 21st at the Cannon Street Hotel,
The following is an approximate exhibit for the year 1887,
L ondon , to consider the desirableness of endeavoring to get December being partly estimated:
tfhe'English Association of American Bond & Shareholders to Gross earnings........................................................................- ........
u u o ,/o o
itake up the interests of the preference holders. Mr. J. Morris Operating e x p e n s e s .................... - ........... - ...................................
»occupied the chair, and said the company was now mdependNet earnings................................................................................
»ent of all other companies, and was able to show, mainly in Interestit,on
o /x ,y /v
morteaare
s................................................. __________
on first m
ortgage b on d s.
consequence of improved organization, that it had earned
Balance
surplus...........................................................................
$98,105
sufficient net revenue to provide a substantial payment for the
St. Louis & San Francisco.—The following is a statement
»reference stock holders; and the question arose whether that
money ought not to be distributed. The dividend of the of the results of operations of the S% Louis & S in Francisco
»reference shareholders would have to be paid before the com Railway Companv for the year 1887, and comparison of same
m on stock holders could touch a dollar. Therefore he thought with those of 1886, November and December 1887, being
it not improbable that the holders of the other class of stock partly estimated.
Increase.
1886.
1887.
would look at the matter from a broader point of view.
182 miles.
878 miles.
. 1,060 miles.
W ith regard to the question of arrears, he was of opinion—
$1,341,372
$4,874,628
.$6,216,000
and it had Veen also the opinion of the late Mr. Benjamin and Operating
615,967
2,049,033
. 2,665,000
o f Sir Horace Davey- that the dividends on the preference stock
$725,405
$2,825,595
$3,551,000
were cumulative. He hoped th^y would be able to arrive at
126,737
173,263
.
300,000
« satisfactory arrangement with the common stockholders,
.as otherwise the difficulty he had pointed out might arise.
$598,668
$2,652,332
.$3,251,000
15,380
159,620
175,000
The report of the committee was adopted, and it was decided
to ask the association above referred to to take up the matter.
$614,048
$2,811,952
$3,426,000
179,037
1,956,298
Oregon Im provem ent Co.—A circular of this company to Int., sinking funds, rentals, &c .. 2,135,335
its shareholders explains why the company does not pay a d m
$435,011
$855,654
$1,290,665
250,000
315,000
dend. The response to the circular of May 13, 1887, offering
.. 565,000
«2 000.000 7 per cent preferred stock for subscription, brought
$725,665
$540,654
$185,011
responses amounting to only $850,000, of which $280,000 was
N. B.—Owing to the increased mileage, the company’s fixed
apayable in bonds, and not at once available as cash. But
increased facilities for doing business became more and more charges (interest, sinking funds and rentals) were $214 per
pressing. The anticipated increase of $150,000 net earnings mile less for 1887 than for 1886.
St. Louis Yandalia & Terre Haute.—A t Chicago, Jan. 11,
was only half of what the annual statement for the year
«nded December 81, 1887, will show. The net earnings for the Judge Gresham in the United States Circuit Court rendered a
year will be about $1,100,000, leaving $750,000 after paying decision in the famous Yandalia case. The decisi n affirms
charges, and $610,000 after allowing $140,000 for dividends on the validity of the lease to the Terre Haute Company. The
$2 000 000. This surplus would be over 8 per cent on the case was brought by the St. Louis Yandalia & Terre Haute
•common stock. Had the preferred stock been taken, the man Railroad Company against the Terre Haute & Indianapolis
agement would have charged off a reasonable amount to Railroad Company to declare a lease executed by a board of
depreciation, and distributed the balance among the common directors of the former road to the latter corporation null and
stockholders. But the subscription was only partially suc void on the ground mainly tbat it was ultra vires.
—The annual report of the St. Louis Vandalia & Terre
cessful, owing to the stringent condition o f the money
market, and the net earnings had to be applied to the payment Haute Company for the year ending Oct. 81,1887, shows gross
o f the notes for over $500,000, held by the Oregon & Trans earnings of $1,755,000, an increase over last year of $278,673;
continental Company, and to railroad construction, and an expenses, $1,112,081, an increase of $100,936. Toe income for
increase of steamer facilities. If the needed facilities a^e to the year, receivable from the T err« Haute & Indianapolis
be provided it will still require the net earnings of eight or Railroad Company operating its road, being 30 per cent of
•ten months to pay for them, and meanwhile no dividends on gross earnings, was $527,101; the year’s charges were: For
4Le common stock can be paid unless stockholders subscribe interest on bonds, $214,930; taxes, $48,314; general expenses,
io r the $1,150,000 balance of preferred stock. Each share $36,925; total, $310,169, leaving a surplus for the year of
holder will be privileged to take all he wants, and should $163,496. The operating expenses for the year were 63*29 per
-there be an excess of subscriptions they will be awarded pro cent of the gross earnings.
rata. Terms of payment will be made easy, and if the whole
Southern Pacific Company.—The following is a compara
is subscribed dividends will be paid on the common stock at tive statement of the earnings, expenses and fixed charges of
this company for November, and from January 1 to Novem
.once.
¡Philadelphia Company—Chartier».—The consolidation ber 80. The total mileage is 5,096, against 4,927 last year :
,--------- November.--------- . >-----Jan. 1 to Nov 30 ——>
o f the Philadelphia and Chartiers natural gas companies was
arose earm nas—
1887.
1886.
1887.
1886.
formally ratified by the stockholders of the former company at
Pacific system !*............ $2,597,696 $2,117,351 $24,652,822 $21,532,787
a meeting-held at Pittsburg. The new combination has a Atlantic system .................................... 1,044,255
783,290
9,165,289 7,672,825
-capital stock of $13,333,000, owns 700 miles of pipe lines, sup
Total gross....................................... $3,641,951 $2,900,641 $33,818,111 $29,205,612
plies 800 manufacturing establishments and 20,000 dwellings
w ith gas and brings into the city of Pittsburg 450,000,000 p 5 f i c a svstfem- . ............ $1,063,255 $857,131 $11,229,556 $10,561,049
cubic feet of gas daily.
Atlantic system ....................................
419’,168
238,581 ^ 5 7 6 ,0 4 4 1,813,999
P hiladelphia & Reading.—The gross and net earnings for
Total n e t .........................................$1,482,423 $1,095,712 $13,805,600 $12,375,048
November, and for the fiscal year ending December 31, Rental leased lines________________
79,731
46,681
847,453 513,484
were as below given. The net earnings of both companies
TYitfll not incom e
$1,562,154 $1,142,393 $14,653,053 $12,888,532
aggregated $1,476,333 in November, 1887, against $1,976,647
13,202,878 12,791,196
in November, 1886; for the year, net in 1886-7 were $12,631,*
$97,336
$1,450,175
$359,884
df.$20,443
Net
profits
.
...
.
<058, against $7,429,150 in 1885-6.
403,076
943,557
44,159
48,279
RAILROAD CO.
/---------- —Year.-------------- ,
,------- November.-------->
1886-7
1885-6.
1887.
1886.
G ross earnings___ $2,098,094 $2,034,084 $21,764,138 $19,838,876
10,578,568
11,262,670
O perating expenses
994,908
745,112
Net earnings...$1,103,186 $1,288,972
$11,185,570
$8,576,206
COAL & IRON CO.
,--------- November.-------- «
1886-7.
1887.
1886.
$19,425,808
G ross earnings___$2,222,796 $1,887,462
17,977,323
O perating expenses 1,849,649
l,1 9 9 ,7 8 o
___________
1885-6.
$15,846,410
16,993,462
N et earn in g s... $373,147
$637,677
$1,448,485 d f.$l,147,952
R io Grande Pacific.—The incorporation papers for a Utah
•division of the Denver & Rio Grande Railroad have been filed
with the Territorial Auditor. The corporate name is the Rio
Grande Pacific Railway Company.
The capital stock is
¿$8,000,000, in shares of $100 each, and of the $800,000 already
Subscribed for the 300 miles of road, $30,000 has been paid in.
The line as projected enters Uiah at the most eligible point
north of the south side of White River canyon, probably close
by the river itself, thence west by the most feasible route to
43alt Lake City and Ogden. The building of this road would
virtually parallel the Denver & Rio Grande Western in a
«Country where two reads are not needed, and it would be
unfortunate. Some rational agreement between the Denver
And the Denver Western companies would be much better for
Loth, and decidedly better for their financial prospects.
Cons, and im provem ’t.
B alanee.................... $315,725 df.$68,722
$506,618 df. $305,740
“ »In clu des int., rentals, Cent. Pae. guar., taxes and IT. 8. dues.
Utica & Black R iver.—The Utica & Black River share
holders have been notified by P< esident Charh s Parsons, of
the Rome Watertown & Ogdensburg Co., that they can ex
change their s ock for first consolidated convertible bonds and
stock of the latter company. The exchange is on the basis of
100 shares of Utica & Black River stock for $6,500 in 5 per
cent bonds and $7,500 in stock of the Rome Watertown &
Ogdensburg Co. The surrender of stock is not obligatory, and
stockholders not making the change will remain in full poss ssion of their rights under the lease of their road to the
Rome Watertown & Ogdensburg, and will receive 7 per cent
annually.
Western New York & P enn sjlvan ia.—The Buffalo New
York & Philadelphia Railroad reports for the year ending
Sept. 30 as follows :
1885-6.
1886-7.
Gross e a r n in g s ................. - » '
Operating expenses.
$2,598,569
2,048,842
Net earnings.................................................
Incom e from investm ents.................................
$549,727
25,500
Gross incom e................................................
F ixed charges......................................................
$575,227
1,774,236
B alan ce.........................................................sur.$261,319 d ef.$l,199,009
J anuary 14, 1868.J
THE CHRONICLE.
1 Icpaxts and $0£nwjents.
TOLEDO ST. LOUIS & KANSAS CITY RAILROAD.
Bee, in a r e v ie w o f th e y e a r 1887, g iv e s a f u ll
T h e T o le d o
a c c o u n t o f th e p ro g re ss m a d e b y th is c o m p a n y , a s fo llo w s :
THE
CLOVER
LEAF— PAST,
PRESENT A N D
FUTURE
W h e n that part o f the T o le d o , C iQ cinnati& St. L o u is R ailroad,
w h ic h has since b eco m e the T ole d o , S t. L o u is & K an sa s CityR ailroad, w as b o u g h t b y S. H . K n e elan d and others, on M arch
10, 1886, it w as operated b y the purchasers u n til June 18, 1886,
w h en it w as renam ed and officers w ere elected, J . M . Q u ig le y , o f
N e w Y o r k , b ein g the first president.
U n d er his able generalship
the road w as operated su ccessfu lly as a narrow gauge, but find
in g them selves h an dicapped w ith the narrow , it w as decided b y
the directors to m a k e a standard ga u ge o f the road
U n d e r the supervision o f M r . J . O . O sg oo d, the efficient c h ie f
engineer, w h o has ju st been hon ored w ith the p osition o f
ch ie f
engineer o f the L a k e Shore, a go od p ro o f o f h is ab ility, the w ork
o f broadening the g a u ge progressed rapidly.
rem o ved
and new and longer
The
ones substituted,
o ld
ties w ere
the road w as
better grad ed, and the old w ood e n bridges w ere replaced b y iron
ones, m a n y o f th em very substantial and exp en sive , that over the
M aum ee
lo n g .
at G rand
R ap id s be in g particu larly so.
I t is 900 feet
A l l last sp rin g , w o rk m e n w ere b u sy w ith those changes,
p reparing fo r the final
event, the ch a n g in g
regu lation w id th , 4 fe e t,8 £
fo rt.
o f the rails to the
inches, betw een T o le d o and
F ra n k
O n the 26th d a y o f last J u n e, this m o m en tou s event in the his
to ry o f th e T o le d o , S t.L o u is & K a n s a s C ity railroad, w as accom
plished. E a r ly on that S u n d a y m o rn in g the w o rk o f tearing u p 206
m iles o f track w as co m m e n ce d b y hundreds o f m en , and b y eve*
n ing, the great w o rk w as co m p le te d ,an d T o le d o no lon g er boasted
a N a r r o w G a u ge road.
T h a t p ortion
o f the road has since been
th o ro u g h ly b allasted,an d it is n o w equal to a n y road in the coun
tr y as regards tracks.
77
and other m a n u factories are go in g up .
A s n on e o f these to w n s
nor any others on the C lov er L e a f, are v e ry large w h o le s a le
houses, e tc ., are rather scarce, and T o le d o , to a great extent, is
called u p on to su p p ly th em w ith m a n y necessities.
T h e g la ss
w ork s all need glass sand, w h ich co m e s m o s tly fr o m T o le d o
T h e passenger travel o f the o ld N a r r o w G a u g e w a s n e ce ssarily
sm all, the o n ly business being lo ca l, but it is ra p id ly in c re a sin g ,
and w ill u n d ou b te d ly be ve ry large w h en th r o u g h trains a re ru n
to bt. L o u is
A t present, the train service o f the road is rath er
lim ited , b u t fa r superior to that o f the old reg im e, w h e n b u t o n e
train per d a y w as ru n, and that o n ly to D e lp h o s .
S ince then
that train has k ep t on w ith c h a n g e d tim e , an d an o th e r an d
through train to F ra n k fo rt, added.
T h e sp eed is m u c h in c re a se d ,
ancl w ill be still fu rth er early in the sp ring.
O ther trains w ill b e
put on as soon as p ossible.
T h e passenger travel betw een T o le d o and M a u m e e is exceed
in g ly large and g r o w in g ra p id ly .
C o m m u ta tio n tickets at one
cent per m ile, i f lim ited to 30 d ay s, and on e and on e -q u arte r
cents, i f lim ited to 60 days, are sold fo r the co n v e n ie n ce o f
gentlem en w h s do business in T o le d o and live in M a u m e e .
The
tickets are g o o d fo r the holder and im m e d iate fa m ily .
T h e tim é
o f trains is p articularly w ell ad apted to su ch parties, a n d the
tickets are a great convenience to m a n y.
T h e equip m ent o f the road , b o th freigh t and p asse n ge r, is firstclass in e very respect on the broad ga u ge d ivision, w h ile th e narrow gu a ge d ivision is better sup plied w ith cars than ever b e fo re
all the old cars bein g n o w on that end.
A ll the new fre ig h t cars
are o f 5 0 ,0 0 0 pound s cap acity.
T h e passenger coaches are ele
ga n tly fitted u p in the latest design, and are equal to an y in the
country.
T h e locom otives are all large and p o w e ifu l.
D u r in g the tim e o f the narrow ga u ge, the o n ly line cars to ru n
on the road, w ere the B lu e and th e C an ad a Southern lines.
S in ce
then, the R e d , L ac k a w a n n a, N ic k e l P late and U n io n lines, and
t r a d e r s , E rie and M erch an ts’ D ispatch have been added, and the
scope o f the road has been v e ry m aterially increased as regard s
eastern deliveries.
®
U n til recently, the o n ly T o le d o railroad the C lover L e a f co u ld
connect w ith w as the M ich ig an C entral, b u t since the con n ection
w ith the L a k e Shore w as p u t in, som e tw o m on th s ago it h as
opened the w a y to the F lin t & Pere M arq uette, and C in c in n ati.
.
L a y to n , and, ind irectly, w ith all other roads ru n n in g
m to T ole d o .
O ne great advantage o f this n e w connection is th a t
grain fro m the^T ., St. L . & K . C . can n ow be delivered to a n y
elevator in the city, instead o f to the N a rr o w G a u ge elevator o n lv ,
as fo rm erly .
°
N o sooner had the T o le d o division been thus m etam orphosed
. T h e C lov er L e a f is the shortest possible route to In d ia n a p o lis,
than w o rk w as b e gu n on the w est end, to b rin g it to the sam e de
either via M arion , and the C incinnati, W a b a s h and M ic h ig a n
gree o f perfection.
T h a t portion betw een F ra n k fo rt, In d ., and
railw ay, or via K o k o m o and the L a k e E rie & W estern-. A s a d iCharleston, 111., is nearly in readiness fo r change o f ga u ge w hich
J ! j ®
L o u is, it is equal to a n y , m a k in g connection w ith
w ill occur early in the spring, and the rem aining 132 m ile s to E ast
the^ v a n d alia at F ra n k fo rt.
I t also offers a g o o d route to C in cin
St. L o u is w ill be pushed th rou gh as soon thereafter as possible
nati via the C incinnati, Jackson & M a ck in a w , and to C h icago via
w hen the road w ill afford to T ole d o another great southw estern
several lines, notably the N ic k e l P la te, C h icago & A tlan tic, B a lt ioutlet. N o tice a b le a m on g the im provem ents since the tran sform a m ore & O hio, P en n sylvan ia C o m p a n y, and L o u isv ille , N e w A l
tion, is the rem odelin g o f the T o le d o station. F o r m e rly an eyesore
bany & C hicago.
I n fact, its connections are su ch as to ad m it o f
w ith no pavem ent and guiltless o f paint, it w a s a d raw b ack to
its reaching every p oin t o f the com pass.
w hat redeem ing features the narrow gau ge m ig h t possess in the
T h e road as at present organized, is e x ce e d in g ly w ell officered,.
eyes o f the p eo p le .
N o sooner, h ow ever, had the g a u ge been
I lie president, S.^R . C a llaw ay , w h o succeeded M r, Q u ig le y sev
changed than w ork m en attacked the structure, a large addition eral m on th s ag o, is a practical railroad m a n , h a v in g , at one tim e
w as added, the w h ole bu ild in g painted and stone sidew alk s laid
been general m anager o f the C h icago & G rand T ru n k , and later
around the depot, and n o w , besides h a v in g the best location in vice-president o f the U n io n P acific.
T h e secretary o f the c o m
T o le d o , the C lover L e a f has a depot, w h ich is a credit to its push p an y is M r. Isaac W . W h ite , o f N e w Y o r k .
and enterprise.
L ast su m m er M r. W . H . P ettibon e, the superintendent o f th e
B u t T o le d o is n ot the o n ly station w here im p ro vem en ts have road for several ye ars, resigned on a c cou n t o f other bu sin ess.
been go in g on. A t nearly all the stations som e im p rovem en ts have
TwnC^s7
tim e,th e road has been w ith o u t a superintendent, b u t
be®n i ? a ,> anc* ^ ie day s o f b o x cars fo r freigh t houses are ended.
M r. VV. S. W e e d , the present acting superintenden t and g en era l
A t h ran k fort, a n ew depot w ill soon be constructed o f stone,
freigh t agent, h as ab ly filled that p lace in ad d ition to his d uties aa
w h ic h w ill be the finest and m o st co stly structure o f the k in d on general fre ig h t agent.
the line.
U p to last J u ly M r. C. C . Jenk ins filled the p lace o f b o th
T h e resources o f the C lover L e a f are abundant, p assing general freigh t and passenger agent, b u t the business a ss u m in g
through the hearts o f the States o f O h io , In dian a and Illin o is, it too large p rop ortion s f o r one m a n to h a n d le , it w as deem ed best
is the aorta b y w h ich the grain, tim ber, e tc ., o f that productive
to divide the departm ents, M r. J e n k in s retaining the general pas
region reach T o le d o and St. L ou is.
senger a g en cy and also be in g ap p ointed assistant general fr e ig h t
T h e grain business, and especially the w h eat business o f the
and the position o f general fre ig h t agent b e in g offered t o
road, is sim p ly enorm ous. A l l alo n g the line are storehouses
y / S . W e e d , at that tim e general fre ig h t agent o f the L a k e
, w m g w ith the golden grain, w h ich is shipped to B altim ore,
L n e «» W e s te r n R a ilw a y , and accepted.
M r. W e e d is a railroad
B u ffa lo and other eastern points, b u t m o stly to T o le d o , where
m an o f large exp erience, and w ith h im at the head o f the fre ig h t
.e road ranks am on g the h ighest as a grain carryin g route,
departm ent, and M r . J enk ins at the h e lm f o r the p assenger d e
i h e lu m b er trade is also v e ry large.
Considerable ship tim ber partm ent, th e traffic dep artm ent is w e ll m a n age d .
A n o th e r n e w
is shipped, and a large business is carried on in staves, h oop s
^ efficient officer is M r. D . D . D a v is , the n ew auditor, fo r m e r ly
e t c ., there b e in g a dozen or m ore such factories a lo n g the line. '
o f the U n io n P acific. M r. M . L . C row ell loo k s after the fin an ces
A t several stations on the S t. L o u is division, n otab ly , V ee d ersas cashier an d p ay m aste r.
M r. N . M c K in n o n is sup erintend en t
b u rg , F an ch er, Sorento and E dw ardsville, coal is m ined in large ot telegraph, and M r. T . A . B r o c k is car accoun tant.
C laren ce
quantities, and the coal carryin g trade fro m that district is also an
B ro w n , the w e ll k n o w n law ye r o f this city, is solicitor fo r th e
Im portant one, and still another large traffic is the live sto ck busi- road.
ness
A rran gem en ts have been m a d e w ith th e L a k e Shore &
A t the presen t w ritin g, it is n ot k n o w n w h o w ill succeed M r ,
M ich ig an Southern and M ich ig an Central, via T o le d o , and N ic k e l Q sgpod as c h ie f e n gin eer, b u t it is exp ected that the c o m in g m a n
Jrlade, via Continental, b y w h ich stock is carried through to E ast is M r. A . L . M ills, his first assistant engineer, w h o has been w ith
B u ffa lo , N . Y . , w ith ou t transfer and w ith as little delay as possi M r. O sg oo d som e years, and is th o ro u g h ly capable to fill h ie
ble*
A th rou gh sto ck train is ru n fro m F ra n k fo rt every Satur place fo r the fu tu re o f the road.
T h e office o f general superin
d a y fo r E ast B u ffa lo , via Continental and N ic k e l P late. L e a v in g tendent, w h ich is at presen t vacant, w ill also soon be filled, it is
F ra n k fo rt early Satu rd ay m orn in g , it arrives in B u ffa lo S u n d ay
anticipated. M r. C a llo w a y is at present in E u ro p e , and w ill ap
n ig h t, m a k in g the trip in about 4 0 hours, th u s afford in g shippers point a superintendent as soon as h e returns.
u n u su al facilities fo r shipping.
T o accom m odate this traffic,
T h e fu tu re _ o f the C lov er L e a f is u n d ou b te d ly one o f u n im
both single and double deck sto ck pens have been erected at the paired prosperity.
P assin g th ro u g h a co u n try w here there is n o
p rincipal stations alo n g the line, and eve ry th in g possible Is done other east or w est line, it is b o u n d to prosper.
W it h in the n e x t
to encourage sto ck shipping.
year, in addition to ch a n g in g the rest o f the road to a stand ard
T h e C lov er L e a f passes th ro u g h the great natural g a s regions ga u ge, it is exp ected that a short cu t w ill b e m ade fr o m D u p o n t,
o f O hio and Indiana.
T h a t great and w on d erfu l fu e l is fo u n d O h io , to D e ca tu r, In d ., th rou gh Y a n W e r t , thus shortening th e
at M a u m e e , W a te rv ille and G rand R ap id s, O ., an d M arion
distance to S t. L o u is to less than the W a b a s h .
S w a zey s, G reentow n aud K o k o m o , In d .
T h e se to w n s are g r o w
E v e ry th in g considered, the T o le d o , St. L o u is & K an sa s C ity i s
in g v e ry rap idly, m anufacturers flo ck in g there in search o f gas. m e c o m in g road, and T o le d o h as cause to fe e l p rou d o f her nwt
G lass w ork s have beeen started at M au m e e, M arion an d K o k o m o
Phoenix, w h ic h has risen fr o m the ashes o f the o ld one.
f Yoiia XLA I.
THE CHRONICLE.
78
C O T T O N .
3 £ h je
Πr n m n c r c ia l
$ im e s .
F rid ay , P. M., Jan. 13, 1888.
T he Movement of the Crop , as indicated by our telegrams
from the South to-night, is given below. For the week ending
COMMERCIAL EPITOME.
this evening (Jan. 13), the total receipts have reached 145,741
F r i d a y N ig h t , Jan. 13,1188.
bales, against 159,308 bales last week, 188,824 bales the previous
The strike in the Pennsylvania coal regions, which was a week and 202,859 bales three weeks since, making the total
cloud over the opening of tie new year, has extended, and receipts since the 1st of September, 1887,4.290.599 bales, against
threatens to become a matter of serious importance to the 4,057,757 bales for the same period of 1886-7, showing an in
crease since September 1, 1887, of 232,842 bales.
whole industrial interest of the North and Northeast, the cen
Total.
Fri.
Wed. Thurs.
Tues.
Mon.
Sat.
Receipts at—
tres of manufacturing and commercial activity. At this
■writing there is little prospect o f its early termination, G alveston......... 2,012 1,693 3,660 3,180
946 1,496 12,987
Indianola, &c.
although earnest efforts have been made to promote anadjnstment of the dispute. The weather has been severely wintry. New O rleans... 10,575 11,626 15,018 7,570 7,916 6,246 58,951
7,228
148
421
536
2,034 2,351
Heavy snows have fallen in the Northwest, and latest reports M obile................ 1,738
217
217
F lorida..............
indicate serious obstructions to railroad transportation. Specu. Savannah ......... 2,571 2,838 2,804 2,344 2,251 2,805 15,613
150
150
......
lations in leading staples of merchandise have generally
Brunsw’k.& c.
6,538
803 1,051
872 1,240 1,435 1,137
C harleston.......
turned toward easier prices under selling to realize.
___ .....
188
188
P ort Royal,&c
The speculation in lard for future delivery has been more
2,326
385
201
325
386
780
249
W ilm ington___
active, but the increase in the volume of business was due to
346
346
Wash’gton,& c
a pressure to sell, under which prices show considerable de. N orfolk ..
2,123 3,008 1,498 1,635 2,772 2,547 13,583
West Point, &e 1,573 2,171 1,750 1,228 1,336 7,316 15,374
cline. To-day, however, the market was steadier. Lard on
5,412
453
656
483
1,000 1,505 1,315
the spot has also declined, but the lower prices caused only a New Y ork
3,214
779
808
829
384
283
161
slight increase in transactions, and the close was steady at B oston . . .
2,679
2,679
B altim ore.........
905
7-55c for prime city, 7 70@ 7-85c. for prime to choice West Philadelpkia,&c
360
50
167
101
138
89
ern, 790c. for refined to the Continent and 8*30c. to South
145,741
1
27,369
18,072
19,319
30,601
27,417
22,963
Totals this week
America.
DAILY CLOSING PRICES OF LARD FUTURES.
total receipts, the total since September 1, 1887, and the stock
Saturd’y. Mond'y Tuesd'y. Wednsd’y. Ih u rsd ’y. Friday' to-night, and the same items for the corresponding periods of
January d elivery ..
7*82 7 -83
7'79
7'68
last year.
7'68
7'68
February deliv’y ..
7 '84 7*85
7 '83
7 -68
.March d elivery .. . .
7 -91
A p r il delivery....... 7 '98
'M ay d e l iv e r y ......
8'04
June delivery......... 8'09
J u ly d elivery......... 8 ’14
7-92
7-99
8'06
8'10
8T 5
7 ,90
7-97
8'03
8*09
8 ’14
7 ‘76
7-83
7'89
7'95
8 ’00
7-75
7-82
7-88
7'93
7'98
7-76
7-83
7'88
78-
Pork has been offered more freely, and prioes have favored
buyers, but there is very Jittle quotable decline; new mess
$15 25@$15 50, extra prime $12 75@$13, and clear $16@18.
Cutmeats have favored buyers, without leading to much busim ss; pickled bellies, 7 ^ @ 7 % c.; shoulders, 6%c., and hams,
9%@ 10c.; smoked shoulders, 8}£c., and hams, l l @ l l % c .
Beef remains entirely nominal at $8@ $8 25 for extra mess
and $8 50 for packtt per bbl., and $14@$16 for India mess per
tierce. Beef hams are steady at $17 per bbl. Tallow firmer
at 4%o.
Stearine is quiet at 8 ^ @ 8 % c. Olemargarine is
quoted lower at 6c. Butter is firmer at 22@35c. for creamery,
the outside figure for Elgin fancy; but Western extra selling
at31@32o. and extra firsts at 27@29c. Cheese is firmer but
quiet; State factory, full cream, 10> £@ ll^ c., and skims,
4@10c.
Tbe speculation in Rio coffee was at steadily declining
prices until yesterday, when were reached the lowest figures
lo r many months. The depression was maiDly due to advices
from Rio Janeiro that prospects for supplies later on had
^greatly improved. Coffee on the spot has been dull and un
settled, and so closes. The futures market took a stronger
turn to-day, the reaction being a natural one after a sharp de
cline, and the close was with tellers as follows for delivery in
1888:
J>an....................15'lO c. M ay................. ..14*25c.
JEeb................... 14-600. Ju ne................... 14 T 5 c.
M arch.............. 14*50c. I J u ly ...................13*80c.
A u g ................... 1 3 ’55c.
.A p r il................14 AOo.
Sept................ ...1 3 ‘30c.
O ct...................... 13’20c.
N ov..................... 13'05o
D e c......................13'050'
Raw sugars bave been dull and close barely steady at 5 5-t6c.
Molasses was quite brisk in the fore part of the week for early
shipment at 24c. for 50 deg. test, but tbe close is dull.
The movement in Kentucky tobacco has been large, and
mainly on foreign account, prices taking a higher range. The
sales amount to 1,850 hhds., o f which 1,400 for export, and
prices paid vary from 5)£c. to 16^o. as to quality. Seed leaf
also more active, and sales are 1,480 cases as follows: 300 cases
1881-85 crops, Pennsylvania, 9l4@ 14j^c.; 130 cases 1885 crop,
Pennsylvania Havana, private terms; 200 cases 1886 crop,
Pennsylvania seed leaf, 10@12c.; 100 cases 1885 crop, Dutch,
9c.; 200 cases 1886 crop, Dutch, 93^@10J^c.; 150 cases 1886
crop, Ohio, 7J^@10c.; 130 oises 18b6 crop. State Havana,
ll@ 2 5 c.; 140 cases 1886 crop, New England Havana, 13@35c.,
and 130 bales I f 86 crop, Wisconsin Havana,
10c.; also
500 bales Havana, 60c.@$l 10c., and 300 bales Sumatra,
$1 38@$1 75.
Spirits turpentine advanced to 43o., in sympathy with South
ern advices, but receded and closed dull at 42c. Rosins are
firmer at $ 1 10@$1 15 for common to good strained. The
speculation in crude petroleum certificates has been active,
but efforts to promote an advance in prices had only tempo
rary success, and to-day there was a sharp decline, closing
.at 94@ 94^c.
On the Me tal Exchange values have given way except for
siron, which is steadier. To-day Straits tin sold at 36%c. for
-January. Ingot copper was freely offered and closed at 16% c.
for February, Lead was down to 4% @4% c, and spelter
5 )£ o .
Stock.
1886-87.
1887-88.
Receipts to
Jan. 13.
94
00
Galveston ...
This Since Stp.
Week. 1,1 887 .
This Since Sep.
Week. 1 ,1 8 8 6 .
1887.
1888.
611,873
64,844
110,879
New Orleans. 58,951 1,307,902 66,147 1,259,570
6,762 172,287
7,228 172,872
M obile...........
19,112
948
21,152
217
F lo rid a .........
Savannah . . . 15,613 749,703 13,781 680,140
23,807
413
46,629
150
Brunsw.,&c
6,481 337,000
6,538 346,327
Charleston ..
404
14,105
10,877
188
P.Royal, &c
2,557 119,831
W ilmington .
2,326 154,539
3,450
65
346
4,308
Wash’t’n.&c
6,790 419,509
N orfolk ......... 13.583 387,096
3,165 244,895
W. Point, &c 15,374 395,364
56,766
5,412
33,877
7,907
New Y ork ___
47,444
6,401
49,514
3,244
26,894
13,297
6,448
2,679
Baltimore . ..
21,074
1,162
17,504
905
Phil’del’a, &c
422,171
44,764
109,566
408,292
37,921
.........
95,099
53,906
224
14,054
32,739
240
9,574
63,565
8,168
215,354
21,000
19,515
10,014
39,524
11,718
223,273
10,000
15,444
15,358
579,638
12,987
13,184
T o t a ls ....... 145,741 4,290,599 142,915 4,057,757 1,047,145 1,010,061
In order that comparison may be made with other years, we
Receipts a t—
1887.
1888.
1886.
1885.
1884.
1883.
Galvest’n, &o
New Orleans.
M obile..........
Savannah . . .
Charlest’n,&c
Wilm’ gt’n, &c
N orfolk .........
W’t Point, &c
A ll others—
12,987
58,951
7,228
15,613
6,726
2,672
13,583
15,374
12,607
13,484
66,147
6,762
13,781
6,885
2,622
6,790
3,165
23,279
10,753
44,959
11,371
8,762
4,352
1,302
8,757
5.76É
12,464
9,851
56,666
7,862
13,687
6,221
2,268
13,594
4,871
15,931
12,110
37,792
5,609
12,612
9,408
1,977
12,747
2,427
15,785
18,923
53,292
8,939
12,474
10,908
3,835
13,102
3,786
25,131
Tot. this week
145,741
142,915
108,48t
130,951
110,467
150,390
Since Sept. 1 4290,599 4057,757 3868,131 1956,461 3757,674 1012,231
W ilmington includes Moreh’d City, &c.; West Point includes City P oint, «fee*
The exports for the week ending this evening reach a total
of 128,570 bales, of which 104,482 were to Great Britain, 13,807
to France and 10,281 to the rest o f the Continent. Below are
the exports for the week and since September 1, 1887.________
Exports
from —
Galveston ....
New Orleans..
Mobile......... . •
Florida..........
Savannah* ...*
Charleston.. ..
Wilmington ..
Norfolk..........
West Point,&c
New York......
Baltimore ....
Philadelp’a’&o
Week Ending Jan. 18.
j
Exported toExported to—
Conti
Conti Total Great |
Great )
nent.
Brit’n. France! nent. 1 Week. Britain. ^
15,283
42,426
12,770
15,283.
28,724 13,702
12,770
14,012
....
1,823
6,981
5,931
105
7,015
4,939
5,232
572) ........
14,612
50
4,059
6,981
762 0,693
5,617 13,337
101 5.040
1,515 j 6,747
j
572
50
2,230
210,308 4.021
893.942 182,810
42,3461
8,446
141,954
53,523!
07,043:
172,001)
185,: 93;
255,262 21,020}(
91.608,
49,534 1,595
80,401
T ota l. . ... ... 104,482 13,807 j 10,281 128,570 1,647.181 248.869
Total 1 8 8 6 -7 80.812
37.1*0
49.E43
* In clu d e s e x p o r ts fro m B ru n sw ick *
O P<VVPC°
65,289
250,229
193,505
184,261
86,079
1,975
762
134.919 ¡
1,919
21,863
8,702
Total.
279,021
827,001
42,346
3,446
345,689
210,573
109,517
173,976
138,555
411,207
93,527
72,48»
84,103
843,993 2,740,043
«MB 21W 9
7 »e
J anuary 14, 18S8.]
«T H E
CHRONICLE.
79
In addition to above exports, our telegrams to-night also give
us the following amounts of cotton on shipboard, not cleared,
at the ports named. W e add similar figures for New York,
which are prepared for our special use by Messrs. Carey, Yale
& Lambert, 24 Beaver Street.
On Shipboard, not cleared—f o r
Jan. 13, at —
New Orleans___
M obile................
C h a rleston .......
Savannah .........
G alv eston .........
N orfo lk ..............
New Y o r k .........
Other ports.......
Great
Other
B ritain. France. Foreign
33,337
8,000
4,500
8,600
8,834
25.000
4,800
13.000
18,145
None.
3,000
1,100
None.
None.
350
None.
29,006
None.
12,000
3,100
7,981
None.
6,600
2,000
Coast
wise.
Total.
2,253
None.
1,500
3,700
10,776
2,000
None.
None.
82,741
8,000
21,000
16,500
27,591
27.000
11,750
15.000
Leaving
Stock.
339,430
36,764
32,906
93,066
37,253
36,565
203,604
57,975
T ota l18 88......... 106,071
22,595
60,687
20,229
209,582
837,563
T o ta l1887.........
97,726
T o ta l1 8 86......... 114,846
35,892
28,731
65,337
52,002
21,129
15,500
220,084
211,079
789,977
895,507
The speculation in cotton for future delivery at this mar
ket opened the week under review with great depression of
tone, due almost wholly to the publication of the C h r o n i c l e ’ s
figures of the movement of the crop in December. These
caused a general abandonment o f short crop estimates, and
led to free selling on the part o f those who had held or
operated for a rise on that basis. The result was a sharp
decline in values, which was not arrested till near the close
of Tuesday’s business, when the reduction from the highest
figures of the season amounted, for the active months, to 40@
45 points. Wednesday saw a recovery of 12@14 points, caused
by a demand to cover contracts and some speculative manipu
lation. It was said that the weak “ longs” had been shaken
out, and the control of the market passed into strong hands.
But on Thursday, although Liverpool reported an advance,
this market was weak and unsettled, under the continued
free movement of the crop and an increasing disposition to
accept maximum estimates o f the total out-turn. To-day the
opening was depressed by weak foreign advices. The decline
was fully recovered on the revival of speculative manipula
tion, but in the last few minutes the market was weak and
the close was easy. Cotton on the spot has been very quiet,
and stocks begin to show some accumulation. Quotations
were reduced %c. on Tuesday, but recovered l-16c. on W ed
nesday. To-day the market was dull at 9 7-16c. for middling
uplands.
The total sales for forward delivery for the week are 813,300
i For.immediate delivery the total sales foot up this week
70o bales, including — for export, 706 for consumption,
— for speculation and — in transit. Of the above — bales
were to arrive. The following are the official quotations for
each day of the past week—Jau. 7 to Jan. 13.
UPLANDS.
S a t. ¡M o n .| T u e s jW e d l 'Fit.
F r i.
O r d in a r y ............................... ® ft
Strict O r d in a r y ...........................
G ood O rd in a ry ........................ """
Strict G ood Ordinary.................
L ow M iddling:....... ............ ..........
Strict Low M iddling . . . . . . . . . .
M iddling..................* ........:::*■*•
G ood M id d lin g .............. I.............
Strict Good M iddling___ !!;• ,!* "
M iddling F a i r ...........
F a ir .......................
GULF.
S a t. I M o n T u e s W e d
O rd in a ry .................................$ ft 7%
Strict Ordinary................... .
8%
G ood Ordinary ................... .
9316
Strict Good O rd in a ry ............
9H ie
L ow M id d ling............................
1018
Strict L ow M iddling.........
10716
M iddling ..................................
10^8
G ood M id d lin g .........
10*8
Strict Good M i d d l i n g ..! !." !!
Ills
M iddling Fair . . .
I lia
F a ir ..... . ..................... .............
1218
STAINED.
Sat
7%
7^8
818
93,6 91l6
,9 “ :16 9316
10^ 10
10*16 105x6
105g 101s
10*8 10%
Ills 11
HLj 1138
1218 12
T it . [ F r i,
711x6 711x6
83x6
8316
918 9ia 918
958 958 9®8
101x6 lOlxe
103s 1038 101X6
1038
10%8 10916 1O®10
101S16 1013x6
lHl6 lHl6 1HX6
117X6 117X6
121x6 121x6 111x6
121x6
M o n lT u e s W e d I T it . [ F r i .
G ood O rdinary.................... sa lb, 7 »i«
Z?16
Strict Good O rdin ary...
8I4
8I4
L ow M iddling..........................
9 316 93xe
M id d lin g ................... ! ! ! ! ! ! ! ! ! ! ! ! 101x6 l o h e
7V
713
7*2
¿»16 8 3X6 83i6
918
918
918
91& 10
10
10
71X6
818
MARKET AND SALES.
The total sales and future deliveries each day during the
week are indicated in the following statement. For the con
venience of the reader we also add a column which shows at a
8ale8
glance how the market closed on same days.
T O m b c^ 0« ?
SPOT MARKET
CLOSED.
SALES OP SPOT AND TRANSIT.
E x Con- Spec- Tran
port. sum p u l’t’n sit. Total.
Sat .. Dull and easier..
M on . Easy..................
Tues. Quiet® is dec...'
Wed . Firm 'S) ixe adv..
Thurs Dull...... .
.
Fri... Dull..................
Total.
!!!!
62
124
168
136
88
128
....
706
....
62
124
168
136
88
128
....
....
....
FUTURES.
Sales.
103.300
190.300
230,700
141,800
72,000
75,200
Deliv
eries.
!!!.'
706 813,300
above are actuaHy delivered the day
previous to ui&t on winch. they are reported*
"
- T he Sales and P rices of F utures are shown bv the
following comprehensive table
" " J c :—
Septem ber, 1887, tor September, 2 5 8.20 0: SenOctober, 570 .200 ; September-November, fo r N o
vember, 481,60 0; September-December, fo r December, 1,027,400.
included in the above table, and shall continue each
wfn
averag e Price o f futures each day fo r each month. I t
be leund under each day follow in g the abbreviation “ A ver " T he
each m onth fo r the week is also given at bottom o f table.
i/£ £ * n8fe.£rak.le Of«!«11« —Saturday, 10-35o.: Monday. 10-25o.: Tuesdav
10 2 5 c.; W ednesday, I 0 '3 5 c .; Thursday, i o -3 0 c .; Friday, 10'35o.
The following exchanges have been made during the week *r
10 pd. to exch. 200 Jan. fo r Feb.
«9 pd. to exch. 300 M ay for June.
19 pd. to exch. 1,000 Mar. for May.
•31 pd. to exch. kO J Feb. fo r May.
*18 pd. to exoh, 200 Apr. fo r June.
•22 i>d. to exch. 500 Jan. for Mar.
•16 pd. to exeb. 500 Mar. fo r May.
•03 pd. to exch. 800 Mar. for Apr.
' to exch. 100 Feb. for M ay
'28 pd.
•15 pd. to exch. 200 Mar. fo r Mavü
*08 pd. to exch. 100 May fo r June.
•11 pd. to exch. 200 Feb. for Mar.
'29 pd. to exob. 200 Mar. fo r Ju ly.
08 pd. to exch. 500 Apr. for M ay.
•19 pd. to exoh. 300 Jan. for Mar•07 pd. to exch. 2,000 Jan. fo r F eb ;
The V isible Supply of Cotton to-night, as made up by cable
and telegraph* is as follows. The Continental stocks, as well a&
[V o l , XLVT.
THE CHRONICLE.
80
bales more than at the same period last year The receipts at
those for Great Britain and the afloat are this week s returns, the same towns have been 4,336 bales more than the same
and consequently all the European figures are brought
week last yea/, and since September 1 the receipts at all the
to Thursday evening. But to make the totals the complete towns are 197,260 bales more than for the same time in 1886-7.
figures for to-night (Jan. 13), we add the item of exports fiom
Q u o t a t io n s f o r M id d l in g C o t t o n a t O t h e r M a r k e t s .
the United States, including in it the exports of Friday only.
In the table below we give the closing quotations o f middling
1888
1887.
1886.
1885.
S tock at L iv e r p o o l...........bales 629,000
766,000
57|,000 724,000 cotton at Southern and other principal cotton markets tor eacn
32,000
11,000
1°»uuu
S to c k at L on d on ........................
day of the past week.
T otal Great B ritain stock.
S tock at H am burg.....................
S tock at Brem en........................
S tock at A m sterdam .................
S to c k at Hotter d a m .................
S tock at A ntw erp.......................
S tock at H a v r e ..........................
S to ck at M arseilles.................
S tock at B a rcelon a ...................
S to ck at G e n o a ..........................
S to c k at Trieste......................
T ota] Continental stocks.........
45.000
3.000
53.000
5,000
6.000
10.000
597.000
4,200
33,400
32,000
400
3,700
143.000
4.000
42,000
9.000
3.000
295,000
283,100
274,700
661,000
5,400
29,400
23.000
300
900
180,000
2,000
'
777.000
3,100
17,200
20,000
300
1,500
171.000
2,000
768,000
7.000
36,400
54.000
600
1,300
363,300
211,000
4.000
38.000
6.000
5,000
871,700 1,131,300
T otal European s to ck s —
1,0 q? ’aaa
'^a'nnn
47,000
’.India cotton afloat fo r E urope.
¿9 ,0 0 0
84,000
78,000
643,000
A m er. cott’n afloat fo r E ur’pe. 561,000 659,000
511,000
63.000
Egypt,B razil,& c.,afltforE ’r’pe
56,000
52,000
52,000
etock in United States p o r t s .71,047,145 1,010,061 1,106,586 945,611
287,885
‘S to ck in U. S. interior to w n s.. 399,845
344,343
<173,995
23.000
U nited States exports to-day.
11,314
19,790
14>535
3,140,796
Total visible s u p p ly ...........3,090,304 3,229,294 3,107,816
.O f tbe above, the totals o f A m erican and other descriptions are as follow s
Liverpool «tnnir
....__ .bales
447.000 578,000 440,000
157,000
186,000 222,000
A m erican afloat for E u r o p e ... 561,000 659,000 511,000
U nited States B tock.l........ . . . . i , 047,145 1,010,061 1,106,586
United States interior stock s... 399,845 344,343 473,995
U n ite d States exports to-day...
11,314
19,790
522.000
246.000
643.000
945,611
287,885
23,000
T otal A m e r ic a n ...................2,623,304 2,797,194 2,768,116 2,667,496
East In d ia n , B razil, dbc.—
202,000
139,000
188,000
L iv e rp o o l stock.......................... 1§2,000
44.000
18,000
11,000
32,000
L ond on s t o c k .............................
117,300
52,700
97,100
Continental stock s..................... 138,000
47.000
78.000
84.000
In d ia afloat fo r E urope.............
59,000
63.000
52.000
52.000
E g y p t, Brazil, &c., afloat............................56,000
Ä IS S
T otal visible s u p p ly ...........3,090,304 3,229,294 3,107,816 3,140,796
P ric e Mid. U pl., L iv e r p o o l. . . .
5^d.
5^d.
5h ed .
5^d.
P rice Mid. Upl., N ew Y o rk —
107ieo.
912C9 ioc>
11 16<3,
5ggr The imports into Continental ports this week have been
50,000 bales.
...
,,
. . , .
The above figures indicate a decrease m the cotton in sight
to-night of 138,990 bales as compared with the same date ot
1887, a decrease of 17,512 bales as compared with the corres
ponding date of 1886 and a decrease of 50,492 bales as
compared with 1885.
A t t h e I n t e r i o r T o w n s the movement—that is the receipts
fo r the week and since Sept. 1, the shipments for the week
and the stocks to-night, and the same items for the corres
ponding period of 1886-87—is set out in detail in the following
statement.
_________
o
>ooOWI*QteiQ<122
£:o ® » ©
so p p ® 2.0 p 2.Ö
os s r Q
Baltimore . . .
Philadelphia
A u g u sta ___ _
M em p his___
St. L óuis.......
C incinnati...
Louisville . . .
Fri.
Satur.
Jfon.
Tues.
Wednes.
Thurs.
10
9 78
93j,
9^8
91516
91B16
10
1050
1038
105s
91B16
9 1316
934
9^8
91Bia
9*8
10
10®8
103a
1058
9^4
9 78
9*8
9 7a
9%
9 78
9*8
9*8
9 78
934
911i 6
95s
10
9*8
10
105s
1038
105s
9%
9%
9!310
9*8
9 78
9 7s
9%
91116
9 a16
10
9 78
10
10*2
lO ^ S g
1058
9*4
9 i l ie
9%
9 78
9 78
9 7s
9 78
9%,
934
9 U16
t l 1!«
9a16 _
??16
9 78'®10
9 78
9 7$
9 78
915i6
9 iöi6
lOlg
1012
1 0 i4®38 l O ^ ® ^
1058
1058
9*4
9%
9 l l 16
934
934
9 78
9 78
9 78
9 78
R e c e i p t s f r o m t h e P l a n t a t i o n s . — The following table
indicates the actual movement each week from the planta
tions. The figures do not include overland receipts nor
Southern consumption; they are simply a statement of the
weekly movement from the plantations of that part of the crop
which finally reaches the market through the outports.
Receipts at the Ports. ISt’7cat Interior Towns. 'Rec'vts from Plant'ns.
Week
Ending— 1886-86 188C-87 1887-88. t885-86'1886-87 1887-88 1885-86 !1886-8711887-88
D ec. 9 . ..
1 6 ...
2 3 ..
5 0 ..
Jan. 6 . . .
1 3 ..
248,134 227,886 249,019 434,343 402,085 463,323: 299,850 239,189.263.140
233,011 260,659 213,902,481,239 410,958 497,369 284,907 269,527 247,948
240,ie
. 6 283,045 202,859 521,319 433,534¡503,678 280,246 305,626 209,163
189,652
238,618'188,824 t543,557 443,565.493,883 212,080 246,649 179,029
.
140,829 159,044'159,308 526,561 423,252 461,804 123,833 138,731¡ 127,229
108,488,142,915
145,741'613,993,389,745 437,202 95,9201109.4C8 121,139
.
The above statement shows—1. That the total receipts from
the plantations since September 1, 1887, are 4,703,971 bales;
in 1886-7 were 4,399,442 bales ; in 1885-6 were 4,366,275 bales.
2.—That, although the receipts at the outports the past week
were 145,741 bales, the actual movement from plantations was
only 121,139 bales, the balance being taken from the stocks at
the interior towns. Last year the receipts from the plantations
for the same week were 109,408 bales and for 1886 they were
95,920 bales.
A mount of Cotton in Sight J an. 13.—In the table below
we give the receipts from plantations in another form, and add
to them the net overland movement to Jan. 1, and also the
takings by Southern spinners to the same date, so as to give
substantially the amount of cotton now in sight.
[ 1887-88. ! 1886-87. I 1885-86.
1884-85.
1^ S I. y £ . t e m b e t ‘ 1i 1.3 .^ l
413,372|
M l , 6 8 » ! 49 8,14 3, 287,644
Southern consumpt’n to Jan. i| 205,000|
150,000, 13 1,00 0, 115,000
/?s- 5 H o I s f F f c B . o g - 8
o f*
\Q
• MN. ip, C
Galveston . . .
New Orleans.
M obile .........
Savannah . . .
Charleston ..
W ilmington .
CLOSING QUOTATIONS FOR MIDDLING COTTON ON—
Receipts at tbe ports to Jan. 13 4,290,599j4,057,757 3,868,132 3,956,461
■g o»-PS\F
i l pl ia »SI
® p P i l l i !
F in e
Week ending
Jan. 13.
: 1 ; p?
pB
Total in sight Jan. 1 3 ...........5,619,683¡5,063,184 5,0 22,367^ ,717,153
©K
M
WtO
BH
tO
©UiMColf-if-©tOO<© '3'3W
0«M
« 0005-3-3
©t0©«P-l-‘O«00O'C0M
-3-3^O<Oit0
©O©©©M©©lM©|
0«t0lf>-t0M©lt‘-Mlfb-
M
' ©©Ml£- ,
o ; c o x to
W. 00MMMQ0
NJamei 3 S.P^ - erS--t-a-bln-^S- - ! 1.261,007!1,033 ,l 06 L ° 89,3 2 2 ^ 844,261
It w ill be seen b y the above that the increase in amount in sight to
n ig h t as compared with last year, is 556,499 bales, the increase as
compared with 1885-6 is 597,316 bales, and the m crease over 1884-5
is 902,530 bales.
W e a t h e r R e p o r t s wi T e l e g r a p h .— Our reports by telegraph
gl
©tOÜIMMtOM
MMCcpto<ijtV)
0505Colo
OOm©© rf*-© ©
tO ODOlS-^-JOtO
..
tn
_
M
£"■
M
<J
-3
toll.
0«
M
HtOHOI®l-llS>.W-3-3 HtP.Oi^Olf-Oi-O
ü,m<3ü«05Mdo©fS- m<3to cg © p © oojop MS
T
h-V00©if.©lo©©OD00© MMM©oi © ©
MMOOWOOW-itOaoMMi^-MCDM^CKMCO 0 0 »
towcoaoffi©Go©ü!to-3aorfi-to©w©©to -3
MM
5s
O ' toMMit*
10
MtO; HM HJl®
M©
,MMM á J ?.
'i-*'©* 'cj«'m 0«O«O«'-3M M0t0>©®0«0© S'«. p
tOOD* ©OOD©©©OC-3tOiH‘ ©M«-3-3© ©
00©! MWt0©M©©O«©CCtO30© tO©05
00M© MJOto ;
<j oilo o o«1p ;
i-OlODOJlvOI,
cco o io «© © '
lq<iM ì^M toe©® m ¡
to! -3if.toM-3
tOOtCOOQQ
OO• M
MM
CJ>MM MM
-3t0 OOtO MiS-OOW; ©© © IOMtO© I sf“'ao
Im o Mtolo©oo i
ü«-3ffilS--3lH-tOXMO«! ©MWOWOOiCO ¡rift*
OOMMCJiUlOOOlMlf^©' ©00©©©tOMW
M
H
<1to
M
MM
M
M
-wffi 10tohs M© U'V'm MtO<JtO-Q©tO©M
tO|HOOMMOi®OlffllHfflMtH<®Wt5®
©M©tOtOtf^©MGOtOO«©©©bO©©©M
MM
M
O«
M
<HOMl^MMIt-M©© M^-MCKOCI^atO
MOOCWMWtOM © 5000<1M© ©<1WMCO
© toM©00©MM^qM-í M00© t O M -3
UJ<liMUiCl'tH-©®MM©©tO©©©M©M
M1^© If^© tO© M00OOit-19<J-3 <IW© M©
This I Since
week. ISept. 1,’86.
j 761,635 j 20,707
1 93,403 ! 889,745
Ifrat H M
,W |
1 40 M
CD
wm ' m m m w
m
00 la '©OMOOMWlfk
CD o< -30©aoooao-3 to
©
O
M
to
©
CO
05
MM®
tC
©
to
©©M<IQD<J© 00
CD
V #.aoV -3'b'b to
CO
tOÜ«M©QO©M O«
00
M©M©00©«3 ItCD
tei
«
»S’
from the South to-night indicate that an earthquake shock
was felt in portions o f South Carolina and Georgia on Thurs
day morning. The temperature has, as a rule, been seasonable,
and in most sections rain has fallen. Marketing continues to
make good progress, hindered, however, to some extent in the
West and Southwest by wet weather.
Galveston, Texas.—There has been a slow drizzle on six
days of the week, the rainfall reaching forty-six hundredths of
an inch. Average thermometer 52, highest 63, lowest 36.
Palestine, T e x a s .- W e have had rain on five days o f the
week, the rainfall reaching four inches and seventy-four hun
dredths. The thermometer has averaged 47, the highest being
SMpm’ ts
This
week.
72,696
47
382
272
154
1,466
18,386
74 and the lowest 20.
¡San A ntonio, T e x a s .-Rain has fallen on five days of the
M
tO
week, to the extent of nine hundredths of an inch, Thethei>
-3M MtO MMMjt* ; MtOMtO 0»M
l o MM^tOtoto©'Ih-®M* 'tOÒO©©CO®tO
mometer has averaged 48, ranging from 24 to 74.
waoowbaaooKiooHM: -3® i^ oomcj©
tOC»©MMM©QOO«MW> OOWM^M©«!
N ew Orleans, Louisiana.—It has rained on tw o days of
K
M HQO
the week, the rainfall reaching one inch and six hundredths.
M
MM
tO
MtO s'gg
*>- tS M
OO
COQOtOM
IOÓiO*
<1^
O
^JO
l^tO
JbO
M
W
HHH
J
M
cn
? o*
c a ? w a o V -a b ^ i
The thermometer has averaged 61.
©lD©'M'tl tt. ; ~M oOQDOOOMM<1MCDÜ!;
Mg.
M
O ©UICKMODOO;
M OiCtOCDfcOOOíCDOiW* CD*1^005 005 CDCD
Shreveport, L ouisiana.—Rainfall for the week three inches.
49 ©MUMtO-lAUC JlgUiCO 1U1 AA/IUDTUXV *** MVW*
—- —
* ------- The thermometer has ranged from 30 to 76, averaging 43.
. figures estimated.
Columbus, M ississippi.—I* has rained on four days o f the
The above totals show that the old interior stocks have
week,
the rainfall reaching three inches and fifty-four hun
decreased during the week 20,347 bales and are to-night 55,502
81
THE CHRONICLE.
J anuary 14, 1888. J
dredths. The thermometer has averaged 43, the highest being years, has been as follows. “ Other ports” cover Ceylon
-68 and the lowest 28.
Tuticorin, Kurrachee and Coconada.
Lei and, M ississippi-—Rainfall for the week two inches
Shipments fo r the week.
Shipments since January 1.
and sixty-six hundredths. The thermometer has averaged 43,
ranging from 27 to 74.
Great
Conti
Great
Total.
Britain. nent.
Greenville, M ississippi.—W e have had rain on four days
B ritain. Continent. Total.
o f the week, the rainfall reaching two inches and seventy C a lc u tta hundredths. Average thermometer 52, highest 74 and low
1888 .......
1,000
1,000
2,000
2,000
est 31.
1887
................
1,400
1,400
3.000
3.000
Madras—
Vicksburg, M ississippi.—It has been showery on four days
................
1888
1,000
1,000
1.000
1.000
o f the week, the rainfall reaching ninety-three hundredths of
1887
................
1,000
1,000
1,500
1,500
an inch. The thermometer has averaged 60, ranging from A ll others—
1,000
1888
................
2,000
3.000
31 to 77.
1,000
3.000
4.000
1887
................ 3,000
3.000
3.000
3.000
Gloster, M ississippi.—Rainfall for the week ninety-one
hundredths of an inch. The thermometer has ranged from Total a l l 1888 .......
83 to 79.
3,000 2,000 5,000
4,000
3.000
7,000
1887.......
2,400
3,000
5,400
3.000
4,500
7,500
Little Rock, Arkansas.—The weather during the week has
been very disagreeable, making outdoor work impossible.
The above totals for the week show that the movement from
Rain fell on four days to the extent of three inches and ninetyfive hundredths. Average thermometer 39, highest 75, low the ports other than Bombay is 400 bales less than the same
week last year. For the whole of India, therefore, the total
est 23.
Helena, Arkansas.—W e have had pretty bad weather dur shipments since January 1, 1887, and for the corresponding
ing the week. Rain has fallen on five days to the extent of periods of the two previous years are as follows :
EXPORTS TO EUROPE PROM ALL INDIA.
two inches and sixty-five hundredths. The thermometer has
averaged 41, the highest being 74 and the lowest 28.
1888.
1887.
1886.
Memphis, Tennessee.—It has rained on four days o f the
Shipments
to all E urope
This
Since
This
Since
week, the rainfall reaching two inches and thirty-five hun
This
Since
from —
week.
Jan. 1.
week.
Jan. 1.
week.
Jan. 1.
dredths. The thermometer has averaged 41, ranging from 24
to 74*5. ...
B o m b a y ........... 33,000
41,000 21,000
40,000
7.000
24,000
7,000
Nashville-, Tennessee.—W e have had rain on five days*of A ll other ports. 5,000
5,400
7,500
5.000
7,000
the week, the rainfall reaching two inches and six hundredths.
T o ta l........... 38,000j
48,000 26,400
47,500 12,000
31,000
The thermometer has ranged from 23 to 73, averaging 42.
Mobile, Alabam a.—It has been showery on four days of
A lexandria R eceipts and Shipments.—Through arrange
the week, the rainfall reaching thirty-eight hundredths of an
ments we have made with Messrs. Davies, Benacm & Co., o f
inch. Average thermometer 56, highest 70, lowest 36.
Liverpool and Alexandria, we now receive a weekly cable o f
Montgomery, Alabam a.—Rain has fallen on five days of
the week, and it is still raining heavily. The rainfall reached the movements of cotton at Alexandria, Egypt. The follow
ing are the receipts and shipments for the past week and for
one inch and seventy hundredths. The thermometer has the
corresponding week o f the previous two years.
averaged 56, the highest being 76 and the lowest 35.
Selma, Alabam a.—It has rained on four days of the week,
A lexandria, Egypt,
1887-88.
1886-87.
Jan. 11.
1885-86.
the rainfall reaching one inch and forty-one hundredths.
The thermometer has averaged 55, ranging from 35 to 69.
Receipts (cantars*)—
A uburn, A labam a.—Rainfall for the week thirty-six hun
This w eek ___
85,000
140,000
140,000
Since Sept. 1
2,377,000
dredths o f an inch. The thermometer has ranged from 33 to 69,
2,337,000
2,293,000
averaging 54*8
This
Since
This
Since
This
Since
Madison, F lorid a .—Telegram not received.
week. Sept. 1. week. Sept. 1. week. Sept. 1.
Columbus, Georgia.—W e have had rain on two days of the
!
week, the rainfall reaching two inches and eight hundredths. E xports (bales)—
9,000 176,000 12,000 174,000 6,000 151,000
The thermometer has averaged 49, the highest being 64 and
To C on tin en t............ 12,000| 96,000 11,000 80,000| 9,000 84,000
1
the lowest 36.
Total Europe 1....... 21,000 272,000 23,000 254,0001 15,000 235,000
Macon, Georgia.—Rain has fallen on one day of the week.
* A cantar is 98 pounds.
Savannah, Georgia.—We have had rain on one day and
the remainder of the week has been pleasant. The rainfall
This statement show that the receipts for the week ending
reached four hundredths of an inch. The thermometer has Jan. 11 were 85,000 cantars, and the shipments to all Eurone
ranged from 40 to 76, averaging 58.
21,000 bales.
A ugusta, Georgia.—The weather has been cool and pleasant
Manchester Market. —Our report received by cable to-night
during the week, with light rain on one day to the extent of
twenty-eight hundredths of an inch. Average thermometer from Manchester states that the market is dull for
56, highest 78, lowest 36.
both yarns and shirtings. W e give the prices for to-day
Charleston, South Carolina.—It has rained on one day of below, and leave those for previous weeks of this and
the week, the rainfall reaching four hundredths of an inch. ast year for comparison :
The thermometer has ranged from 42 to 72, averaging 56.
1887-88.
1886-87.
Stateburg, South Carolina.—-No rain has fallen during the
Cott’n
week. There was a smart earthquake shock at 9-37 on Thurs
OolVn
32s Cop.
8*4 lbs.
8*4 lbs.
Mid-. 32« Cop.
Mid.
day morning. Average thermometer 59‘3, highest 73, lowest
Twist.
Shirtings.
Twist.
Shirtings.
TJplds
TJplds
36. Last week rain fell on one day to the extent of eightyd.
d. s. d.
s. d.
d.
d.
d. s. d.
eight hundredths of an inch. Ice formed on three nights.
s. d.
d.
Dec. 9 7*2 ®8*8 5 7*2@7 0
738 @ 8
5 8 @6 9
5*4
Average thermometer 42-5, highest 65 4, lowest 23.
“ 16 7*2 ®8 *i 5 7*2@7 0
558 73s @ 8
5 8 @6 9
5*4
11Wilson, North C arolin a —There has been rain on two days
“ 23 7 ^ @8*4 5 9 @ 7 1*2
7510'®7i5ia 5 8 @ 6 10
5*4
“ 30 7 \ -@838 5 10*2@7 3
o f the week, the rainfall reaching twenty-eight hundredths
K “ 75i6'®7lf>ig 5 8 @ 6 10
5*4
Jan.
6
75l6@71516
5
10*2@7
3
7%
®838
5 8 @ 6 10
of an inch. The thermometer has averaged 48, ranging from
« 13
5 9 @7 2
t l 1*
713i6-87i6
S i1* 75j6@71516 5
9*2@6 10*2 5*4
The following statement we have also received by telegraph,
Southern Consumption F igures.—W e have of late had
showing the height of the rivers at the points named at 3 many suggestions that our figures of Southern consumption
o’clock Jan. 12, 1888, and Jan. 13, 1887.
are too small—that the mills have taken more cotton than our
results from month to month show. While we have ans were
Jan. 1 2 ,’ 88. Jan. 13, *87.
some of our correspondents we have not replied to all. an
Feet. Inch. Feet. Inch. would, therefore, take the opportunity here to state that w
N ew Orleans................A bove low-water mark.
2
1
4
3
do not attempt to give the takings of Southern mills in ou
M e m p h is......... ...........A bov e low-water mark.
13
0
9
6
monthly overland statements. It i3 practically impossible to
Nashville .....................A bove low-water m ark.
14
5
Miss ing.
Shreveport . . . . . . . . . . . A b o v e low-water mark. 17
arrive at an accurate conclusion on that print. W e can get
8
2 I 6
V ick sbu rg ................... A bove low-water m ark.
6
7
14 1 0
the information in part from railroad returns, but not by any
means wholly. Our main dependence would have to be upon
I ndia C otton Movement from all P orts.—The receipts reports from the mills from .week to week, and there are not
and shipments o f cotton at Bombay have been as follows for many of them that would be willing to let any one know
the week and year, bringing the figures down to Jan. 12.
during the period o f active buying just how much they had
on hand ; and unless we have accurate figures so as to make
BOMBAY RECEIPTS AND SHIPMENTS FOB POETE TEAKS.
the comparison exact from year to year, it would be mislead
Receipts.
1Shipments this week. Shipments Since Jan. 1.
ing. What we do give, however, is the current consumption
Tear Great Conti
Great
Conti
by the mills at the South made up on the basis of information
This
Since
Total.
B rit’n. nent. Total. B ritain nent.
Week. Jan. 1.*
obtained at the time the figures are prepared. A t the end of
1888 3.000 30.000 33.000
6,000 35.000
41.000 21,000
44.000 each season the results are thoroughly tested by comparison
1887 2.000 19.000 21.000
6,000 34.000
40.000 42.000
83.000 with the very full official returns then secured direct from
1886 6,000 1,000 7,000
8,000 16.000
24.000 32.000
62.000 the factories, and revised, if necessary.
1885 2,000 17.000 19,000
4,000
29,000
33.000 21.000
37,000
F According to the foregoing, Bombay appears to show
decrease compared with last year in the week’s receipts
of 21,000 bales and an increase in shipments o f 12,000 bales, and
the shipments since Jan. 1 show an increase o f 1,000 bales.
The movement at Calcutta, Madras and other India ports for
the last reported week and since the 1st o f January, for two
D omestic E xports of C otton Manufactures.—Through
the courtesy of Mr. W* F. Switzler, Chief o f the Bureau of
Statistics, we have received this week a statement showing the
exports o f domestic cotton manufactures for November, and
for the eleven months since January 1,1837, with like figures
j for the corresponding periods of the previous year, and give
them below :
"
Quantities of Manufactures of Cot Month ending Nov. SO. 11 mos. ending Nov. 80.
ton (colored and uncolored)
1886.
1887.
1886.
1887.
exported to—
Great Britain and Ireland... .yards
Other countries in Europe.... “
British North America......... “
M exico.................................... “
Central American States and
British Honduras............... “
W est Indies............................ “
Argentine Republic...............
‘
Brazil .......................... ..........
United States o f Colombia...
Other countries in S. America “
China............ ........................
Other countries in Asia and
Oceanica.............................. “
A frica !........................... ....
'
Other countries......................
Total yards o f above......
“
Values of other Manufactures of
Cotton exported to—
1,864.801
204.593
75,143
1,488,752
808,281
650,781
104,692
990,470
435.800
1,746,650
432,812
591,587
455,371
3,067,587
4,897,400
883,024
1,340,809
3,022,659
478,739
405.918
1,286,967
3,920,800
96,612
2,968.695
121,852
305,566
1,683,447
147,572
Central American States & British
Other oountr'es in So. America....
Total value o f other manufacAggregate value o f all cotton goods
Ship Northumbria, 4 .1 8 1 .... Jan. 11—Steamer Ardangarm, 3,939..
Liverpool—Jan. 6—Bark F lora, 2,675
Jan. 9—
Steamer Carbis Bay, 4 ,1 1 0 ....H ark Konom a, 2 ,6 0 0 ....J a n . 12—
9,415,681
7,980,054
Steamer Kate, 5.227.
4,391,375 B r u n s w i c k — F or L iverpool—Jan. 9—Steamer Mozart, — — .
3,276,716
1,627,453
1,801,906
W i l m i n g t o n — For L iverpool—Jan. 7—Bark Bertha, 1,823.
14,405,633 12,683,061
F or Brem en—Jan. 7—Bark Oberbürgermeister von Winter, 2,236.
N o r f o l k —F or Liverpool—Jan. 7—Steamer St. George, 2 ,8 1 8 .... Jan. 9—
5,779.131
7,154,208
Bark Tiber, 6 0 0 .... Jan. 11—Steamer W arwick, 3,562.
16,658,832 15,893,431
5.544,725 11,163,174 W e s t P o i n t —F or L iverpool—Jan. 8—Steamer Orsino, 5,931.
7,313,290 B o s t o n —For L iverpool—Jan. 4—Steamers Cephalonia, 1 ,1 5 9 ; Kansas,.
6,444.140
4,456,942
5,787,870
2,197
Jan. 9—Steamer Iow a, 1,583.
28,331,216 19,594,014
F or Yarm outh—Jan. 10—Steamer Dom inion, 101.
58,693,067 71,356,919
B a l t i m o r e —F or Liverpool—Jan. 7—Steamer Mentmore, 2,212.
9,396,198
For Bremen—Jan. 7—Steamer Hermann, 1,515.
6,583,121
6,055,974 12,680,775 P h i l a d e l p h i a —F or L iverpool—Jan. 10—Steamer Indiana, 572.
3,863,395
5,997,231
S a v a n n a h — F or
15.524,725 171,580,357 191.698,678
Below we give all news received to date o f disasters to ves
sels carrying cotton from United States ports, &c.
$1,155,459
$•0640
$962,822 $11,127,503 $12,244,099
$•0639
$*0649
$•0620
A c u b a , steamer (Br.)—Three hundred bales o f cotton, w h ich had been,
$
$
$
84,572
4,354
13,40 i
3.267
514
27,962
16,634
417
39,127
6,756
2.780
11,396
5,450
9,353
25,131
4,492
6,514
7,431
4,843
19,523
892
1,122
140,217
1.295,676
106,993
1,069,815
ITS
Other countries...............................
M o b i l e — F or Liverpool—Jan. 7—Steamer Glenmore, 4,6 5 0 — Jan. 1 0 —
18,037,155
1,000
Other countries,in Europe............
100
$
885.334
25,400
1,894
17,114
402.275
126,006
238,220
18,252
63,185
71,509
99,440
63,785
262,060
2.065
66,450
22,921
6,121
12,699
561,424
75,570
68,3^0
76,346
76,721
259,996
1.204
77,587
discharged from the British steamer A cuba at Genoa, from New
Orleans, caught tire Jan. 3 and were throw n into the water, an a
the flames were thus quenched. They will be recovered.
K i m b e r l y , steamer (Br.)—O n Jan. 7 a survey was held on the steamer
Kim berley, from New Orleans for Liverpool, ashore near Wash
W oods, N. C., and she was ordered to discharge and repair damages;.
6,000 o f the 8,000 bales of cotton have been saved. The bulk o r
the grain is in good order, but that in the afterhold is damaged.
R. F. M atthe w s , steamer (Br.), from New Orleans for Reval, before re
ported ashore near Copenhagen, was m aking w ater Jan. 5. Sev
enteen hundred bales o f cotton have been landed, 28 bales being:
wet. Cargo was being saved on Jan. 10.
Cotton freights the past week have been as follow s:
Shipping New s .—The exports o f cotton from the United
States the past week, as per latest m ail returns, have reached
127,591 bales. So far as the Southern ports are concerned, these
are the same exports reported by telegraph and published in
the Chronicle last Friday. W ith regard to New York we
include the manifests of all vessels cleared up to Thursday.
Total bales.
New York- T o Liverpool, per steamers Baltic, 2,271— Italy,
2.399.. ..Lake Ontario, 1,337— Republic, 1,608......... 7,615
105
To Havre, per steamer La Bretagne, 105................... .........
204
To Bremen, per steamers Elbe, 104— Rhein, 100.............. .
To Amsterdam, per steamer Schiedam, 1,503...................... 1,503
To Antwerp, per steamers Jan Breydel, 2,050— Waesland,
1,860............... ............................................................... 3,910
Hew Orleans—To Liverpool, per steamers Elysia, 5,650—
Emiliano, 4,130__ Explorer, 4,300---- Leonora, 6,600---Pedro, 2,825....Yucatan, 5,238 ....................................... 28,743
To Bremen, per steamer Scotland, 5,341............................. 5,341
To Barcelona, per steamer Herman Cortes, 4,764................. 4,764
Mobile—To Liverpool, per steamer Sphynx, 3,772.................... 3,772
Savannah—To Liverpool, per steamer Puerto Riqueno, 4,590 ... 4,590
To Bremen, per steamers Albano, 6,760... De Bay, 4,300 ... 11,060
Charleston—To Liverpool, per bark Capenhurst, 1,820........... 1,820
To Havre, per bark Corona, 1,300....................................... 1,300
To Bremen, per steamer Elstow, 4,250........... .................... 4,250
To Genoa, per barks Aranna, 1,460.... Arateli! Laurin, 1,200 2,660
Galveston—To Liverpool, per steamers Ealing, 5,085— Gwen
doline, 4,400... per ship JohnBunyan, 3,664.................. 13,149
To Havre, per bark Braekka, 1,100........... ......................... 1,100
To Bremen, per bark Marco Polo, 1,613............................... 1,613
To Vera Cruz, per steamer Whitney, 1,085.......................... 1,085
Wilmington—To Liverpool, per bark Oluff, 1,236 ... Silo, 1,441 2,677
Norfolk—To Liverpool, per steamer San Juan, 3,537 ..... ...... 3,537
To Bremen, per steamer Europa, 1,975 — .......................... 1,975
West Point—To Liverpool, per steamer Athens, 7,002 ............. 7,002
Newport News—To Liverpool, per steamer Warwick, 5,025---- 5,025
B altimore—To Liverpool, per steamer Vancouver, 4,190.......... 4,190
Boston—To Liverpool, per steamer Bavarian, 1,971— Samaria,
403.. ................. .............. ..............................-............ 2,374
70
To Yarmouth, per steamer Dominion, 70..............................
P hiladelphia—To Liverpool, per steamer British Prince, 1,089
....Lofd Clive, 710..................................... -......... ......... 1,799
358
To Antwerp, per steamer Nederland, 358 ............................
127,591
T otal
Liverpool, steam d. !s ® 964 18® 964 *8.®964 ^8®964 *8 ® ¿64
....
....
....
....
....
Do
s a il...d .
Havre, steam ___c. 832® % 932@38 ®16® % 516 @3g ®16® ®8
—
....
....
....
....
Do
sa il......... c.
38
38
3a
%
Bremen, steam c.
%
—
—
....
....
....
Do
sail___ .c.
Hamburg, steam c.
U 32
n 32
1132
U 32
1132
....
....
....
....
....
Do
s a il...c.
85*
35*
35*
35*
35*
Amst’d’m, steam c.
—
....
....
....
....
D o via L eith.d.
Reval, steam ___d. 732®932 732®932 7i>2®932 732®932 732®932
....
....
....
....
D o sail..........d.
Barcelona,steam d. 732®l4 732® ^4 732® *4 732® *4 732®-*4
7S2
Genoa, steam . . . d.
732
732
732
732
>4
*4
Trieste, steam ... d.
*4
Antwerp, steam d.
18®964 ■*8®964 18®964 *8®964
9*4
T o ta l................. 86,293
2,505 24,443
......
_
.....
Total.
13,337
38,848
3.772
_ 15,650
10,030
1,085 16,947
2,677
__ 5,512
7,002
.... . 5,025
__ 4,190
70
2,444
2,157
.........
5,771 7,424
1,155 127,591
4,764
2,660
___
___
Below we add the clearances this week o f vessels carrying
cotton from United States ports, bringing our data down to
the latest dates:
G a lvesto n — F or L iverpool—Jan. 7— Steamers Empress, 4,7 76; Nymphaea, 5,0 44___Jan. 11—Steamer Madura, 5,463.
N e w O rleans —F or L iverpool—Jan. 9—Steamers A lvah, 5 ,6 0 2 ; W est
Indian, 2,9 60; Ship H edwig, 3,821___Jan. 11—Steamers Andean,
4 ,5 0 3 ; D iscoverer, 2,944.
F o r H avre—Jan. 6—Bark Prince Umberto, 4,7 03___ Jan. 7—Ship
P rin ce Regent, 4 ,5 5 6 ....Jan. 9—Ship lie Martha. 4,443,
*4
18®964
* Per 100 ibs.
Dee. 23.
Sales o f the w eek.............. bales
Of which exporters to o k —
O f which speculators t o o k ...
Of which American—Estim’d
Total im port o f the w eek .........
Of which A m erican................
L ee. 30.
74.000
3.000
6.000
51.000
9,000
20,000
582.000
402.000
105.000
83,000
270.000
255.000
59.000
4.000
6.000
38.000
11,000
26,000
604,000
419.000
111.000
83,000
285,000
275,000
Jan. 6.
49.000
5.000
3.000
32.000
10,000
25,000
623,000
444.000
95.000
80.000
293.000
278,000
Jan. 13.
5 3 .0 0 0
4 .0 0 0
3 .0 00
38 .0 0 0
9,000
27,000
6 2 9,00 0
4 4 7.00 0
87.000
65 .000
3 4 4.00 0
3 3 4.00 0
The tone of the Liverpool market for spots and futures each
day of the week ending Jan. 13 and the daily closing prices
of spot cotton, have been as follows :
__________________
Saturday Monday. Tuesday. ! Wednes. Thursd'y. Friday.
Spot.
Less
Freely In buyers’ Barely In buyers’
irregular.
favor.
favor. supported
offeree).
56a
550
5%
5%
5®8
5U 16
51116
51116
5U ie
5 1116
12,000
10,000
8,000
10,000
8,000
1,000
1,000
1,000
1,000
1,000
Market,
12:30 P.M.
Mid.Upl’ ds
Mid. O ii’ns
Spec. & exp.
Futures.
Barce- Vera
Iona Cruz
and <£•YarGenoa. mo'th.
F ri.
18® 964
....
*>16®^
—
38
—
n 32
....
35*
—
732®932
....
732® 14
732
L iverpool.—By cable from Liverpool we have the follow
ing statement of the week’s sales, stocks, &c., at that port.
W e add previous weeks for comparison.
The particulars of these shipments, arranged in our usual Market,
form , are as follow s:
12:30 P.M.
AmsterBrem. dam
and
and
L iverpool. Havre. Hamb. Antw'p.
204 5,413
7,615
105
5,341
28,743
3,772
l
i
. 060
4,590
1,820 1,300 4,250
13,149 1,100 1,613
2,677
1,975
3,537
7,002
___
5,025
4,1 90
2,374
358
1,799 ..... .....
Wednes. Thurs.
Tues.
Mon.
Satur.
1,495,891
1,586,517
12,714,020 13,740,000
J ute B utts, B agging , & c.—There is only a light demand
fo r bagging, and the market is quiet. Quotations are about
Bteady at 5 J^c. for 1 ^ lbs., 6 c. for 1 % lbs , 6 j^ c . for 2 lbs. and
7c. for standard grades. • Rath r more inquiry is reported for
butts, and some business is being doneon the basis of 2 ^ @ 2 % c.
for paper grades, and 2 % @ 2 ^ c . for bagging qualities.
N ew Y o r k ..
N. Orleans.
M o b ile .......
Bavannah ..
Charleston.
G a lv e s to n .,
W ilm ingt’n
N orfolk __
W estP oint.
N ew port N.
Baltim ore .
B o sto n -----P lnladel’i a .,
(VOL x l \ i ,
:c h r o n ic l e ,
ïh e
f 82
Market,
4 P. M.
Easy at Steady at Steady at
l.«4 de
3-64 de
3-64 de
cline.
cline.
cline.
!
Steady.
Steady.
Easy.
Quiet at
1-64 de
cline.
Steady at
1-64 ad
vance.
Quiet.
Steady.
Small
inquiry.
5^8
5H i 6
5,000
500
Quiet at
1-64 de
cline.
Quiet and!
steady.
The opening, highest, lowest and closing prices of futures at
Liverpool for each day of the week are given below. These
prices are on the basis of Uplands, Low Middling clause, unless
otherwise stated.
¡gap
p rices are given in pence and Giths
4 b3-64rf.. and 5 01 m eans 5 l-64d.
S a t ., J a n .
r.
M on .) J a n . 9 .
th u s:
4 63 m ea n t
T u e s., J a n . 1 0 .
Open High Low. Clos. Open High Low. Clos. Open High Low. Clot-
d.
5 35
5 35
5 36
538
539
5 41
543
545
Aug.-Sept.. 646
d.
d.
d.
d.
d.
d.
d.
d.
d.
a.
5S5
5 35
5 36
6 88
6 39
6 41
643
645
546
5 35
5 35
5 86
5 88
5 89
5 41
5 43
546
546
5 35
5 85
5 86
5 38
5 39
5 41
5 43
545
546
634
534
5 35
536
538
5 40
542
5 43
544
5 34
5 34,
5 85
5 37
5 38
6 40
5 42
5 44
545
5 34
534
5 35
5 36
538
5 40
542
5 43
544
5 34
534
5 35
5 37
5 38
5 40
5 42
5 44
5 45
5 33
5 33
534
536
5 37
5 39
5 41
5 43
5 44
5 33
5 33
5 34
5 37
5 37
539
5 41
5 43
5 44
533
5 33
5 34
5 86
5 87
5 89
541
5 43
5 44
d.
5 33
5 8S
5 34
5 37
5 37
C 39*
5 41
5 43
5 44
\THE C H R O N ICLR
J a n u a r y 14, 1888.J
W e d n e s. ,J a n . 1 1 .
- J a n u a r y ....
J a n .- F e b ...
F eb .-M a rch
M a r .-A p ril.
A p r il-M a y .
May-J u n e ..
J u n e -J u ly ..
-J u ly -A u g ..
T h u rs ., J a n . 1 2 .
F r l., J a n . 1 3 .
Open High Low. Clos. Open High Low. Clos. Open High Low. Clos.
d.
d.
d.
d.
d.
d.
d.
d.
d.
d.
d.
d.
6 33
633
5 31
5 33
5 37
5 30
5 41
5 43
-Aug.-Sept.. 5 44
5 83
5 33
534
5 33
5 37
5 89
5 41
5 43
5 44
5 33
533
5 34
535
5 37
5 39
5 41
5 43
5 44
5 33
5 33
5 34
535
5 37
5 39
5 41
5 43
6 41
534
5 31
535
5 36
5 31
5 40
5 42
544
5 43
5 35
535
536
5 37
5 39
5 41
5 43
5 44
5 43
534
5 84
535
5 36
5 36
5 40
5 42
5 44
5 43
535
5 33
536
5 37
539
5 41
5 43
514
5 45
5 31 5 3 4 5 34
5 34 5 34 5 3 4
5 35 5 3 5 5 35
5 36 5 3 6 5 3 6
5 3 8 5 38 5 37
5 40 5 40 5 39
5 4 2 5 42 5 41
5 43 5 1 3 5 43
5 44 5 4 4 5 44
5 31
534
535
5 36
5 37
5 39
5 41
5 43
5 44
The movement o f breadstuffs to market is indicated in the
statement below, prepared by us from the figures of the New
York Produce Exchange. W e first give the receipts at Western
lake ana river ports, arranged so as to present the compara
tive movement for the week ending Jan. 7, 1888, and since
July 24, for each of the last three years:
Receipts at—!
Chicago.......
M ilw aukee...
T o le d o ...........
D e tr o it ..........
C le v e la n d ...
St. Louis......
P e o r ia ............
B R E A D S T U F F S .
The flour market has been dull and drooping throughout
most of the week under review. The weakness in the grain
markets has caused buyers to hold off or to demand concessions.
^Still,values show no material reduction. Stocks are not large,
and could not be readily replaced at current values. Receivers
have therefore preferred to send desirable lines and favorite
grades to store rather than accept lower figures. To-day the
bad weather checked trade.
The wheat market has been a contest between leading
op ei ators in the principal commercial centres as sellers and
mi ban operators as buyers, under which prices have been
feverishly variable, but rather favoring the bears. The sell
in g movement has been based on the Bureau report (as made
public last Saturday), the dull foreign advices and the large
figures at which the visible supply is maintained; and the buy
ing movement is based on short crop estimates and damage by
severe weather to the fall-sown wheat. There has been very
little export demand, but nothing important, and local millers
have dene little or nothing. To-day there was mere speculative
strength, but the spot market was very dull.
Fri.
91
91%
92%
93%
94%
95
97%
Indian corn has further declined. A. recovery on Tuesday
-was due to some revival of export business toE agland, but
neither the movement nor the rise was maintained. Latterly,
however, there hss been no great pressure to sell, the market
beiDg dull rather than weak. To-day the market was dull but
steady.
DAILY CLOSING PRICES OF NO. 2 MIXED CORN.
Sat.
Mon.
Tues.
Wed. Thurs.
62
61%
60%
61
61%
62
61
61%
61%
61%
-March delivery....... ........... — .
....
62%
61%
62
62%
62
62%
62
62%
Fri.
61%
62
62%
62%
Oats have been somewhat drooping. Speculators for the
rise became moderate sellers to realize, causing some depres
sion, which was the signal for a great reduction in the pur
chases by the regular trade. To-day the market was steadier
but quiet.
DAILY CLOSING PRICES OF NO. 2 MIXED OATS.
Sal.
Mon.
Tues.
Wed. Thurs.
38%
-January delivery........
37%
38
37%
38
-February delivery.............. S9%
38%
38%
38%
38%
M ay d elivery........................ 40%
40%
40% 40%
40%
DAILY CLOSING PRICES OF NO. 2 WHITE OATS.
•January delivery................ 41%
40%
41
40%
40%
-February d e liv e r y ........... 41%
41%
41%
41%
41%
Flour. 1 Wheat. 1 Com.
Oats.
BblsAMlbs Bush.6 Olbs Bush.56 lbs Bush. 32 lbs
146,867
66,697
4,967
2,910
2,718
13,408
1,250
Duluth.........
F r id a y , P. M., January 13, 1888.
DAILY CLOSING- PRICES OF NO. 2 RED WINTER WHEAT.
Sat.
Mon.
Tues.
Wed. Thurs.
January delivery................ 91
90%
90%
90%
9 0 78
91%
91%
91%
91%
915s
92%
92%
92%
92%
92%
April d e liv e r y ,
93%
93%
93%
93%
93%
94%
94%
94%
94%
94%
94%
94%
94%
94%
97%
97%
97%
97%
97%
83
Fri.
38%
38%
40%
41
41%
Rye has remained quiet and barley and barley malt have
been fairly active at full prices. Buckwheat has ruled steady.
The following are the closing quotations:
M in n eapolis.
T ot.w k . ’88.
S a m e w k .’87.
Sam e w k .’86
228,817
185.865
107,462
197,358 !
143.560
38,552
87,393
71,723
57,146
15,500
142,713
510,900
1.261,815
1,657,812
737,815
Since Aug 1.
1 88 7-8.........
1836-7*.......
1 8 8 5 -6 * .....
Barley.
Rye.
820,811
7,820
23,066
37,360
82,500
516.990
352,600
525,659
17,000
3,338
2,409
21,088
209,705
201,000
254,710
U 8,876
2,000
19,902
10,624
49,890
22,200
13,200
1,791,147
2,058,512
1,067,511
081,197
893,620
513,451
462,613
432.396
417,933
60,130
33.007
35,591
5.769,923 71.529,179 42.558,073 38,702,411
4,951.714 61,319,311 44.981.415 34,976.302
4,003,828j 41,722,546 15,4:9,423 31,118,991
21,510
18,713
3,390
18
3.300
16,074.171 1,115,551
14,543,671' 1,827,234
12,947.915 2.070,210
Below are the rail shipments from Western lake and river
ports for four years:
1888.
Week
Jan. 7.
377,S55
1887.
Week
Jan 8.
253,547
1886
Week
Jan 9.
129,815
1885.
Week
Jan. 10.
248,022
W heat...........................bush. 462.157
Corn........................................ 1,735,346
O ats........................................ 1,029,401
Barley..................................... 346,401
B ye..........................................
30,789
217,827
417,840
697,902
185,923
8,570
183,279
810,028
571,500
231,670
24,753
382,206
1,565,445
536,462
104,5 ¿3
63,448
T otal..................................3,603,703
1,528,065
1,821,230
2,652,084
F lour.............................. bbls.
The rail and lake shipments from same ports for last four
weeks were
Week
F lour
ending—
bbls
Jan. 7, ’ 88. 377,855
Dec. 31, ’ 87. 364,663
Dee. 24, ’ 87. 363,783
Dec. 17, '87. 454,977
Wheat,
bush.
Corn,
bush.
Oats,
bush.
B arley,
B ye,
bush.
bush.
346,010 30,789
311,869 32,606
321,760 40,041
79 8,37 41,0 11,6 57 899,901 380,946 48,195
Tot. 4 Wks.. 1.561,278 2,267,695 5,132,440 3,433,036 1 360 585 1 51
4 weeks ’87.1,413,000 2,195,819 2,274;601 2,749,198 931,847 60,952
The receipts of flour and grain at the seaboard ports for the
week ended Jan. 7, 1888, follow :
Flour,
At—
bbls.
New Y ork ......... 351,247
Boston............... 49,028
Montreal...........
2,170
Philadelphia... 20,757
Baltim ore......... 45,969
Richm ond........
3,345
Norfolk, V a ............... .
New Orleans. . . 11,552
Total week. 284,068
Oor. week 8 7 .. 321,683
Wheat,
bush.
233,200
42,931
46,500
24,172
28,304
9,442
Corn,
bush.
322,678
88,690
450
9,527
41,086
86,594
860
one
i o tîH s o
90 6,7941,237,452
Oats, B arley'’
bush.
bush.
394,000 108,400
120,100 12,600
5,750
600
55,969 21,400
15,500
3.000
12,654
B u e,
bush.
6,050
1,425
3,250
100
18,845
6?2.818 146,000
811,805 84,732
10,825
13 ,0 1 0
The total receipts at the same ports for the period from J a n .
1 to Jan. 7, 1888, compare as follows for four years:
years:
F lour...................bbls.
1883.
2 4,068
1887.
32 L,633
‘ 1886.
598,236
*1885.
692,863
W heat................ bush.
Corn............................
O a t s ............... . .." ! ! ! !
B a r le y ....___ _
R y e......................... . . "
384,999
549,435
622,818
146,000
10,825
906,794
1.237.452
811.805
84,732
13,010
414,888
6,301,430
1,140,670
466,080
__ 34,018
1,670,750
4,365,309
1,073,090
284,663
31,622
Total gra in ................
1,714,077
* Include one week extra.
3,053,793
8,657,129
7,430,434
The exports from the several seabiard ports for the week
Exports
fr o m —
New Y ork
B oston ...
Portland.
N orfolk ..
P h ila d el.
Baltim’re
N. Orl’n s .
Richm’d .
N. N ew s.
Wheat.
Corn.
Bush.
300,163
46,861
18,003
Bush.
67,690
25Í480
42,000
16,789
15,510
104,712
12,016
Flour.
Bbls.
90,801
19,088
8,998
8,571
48,104
412
2,750
Oats.
Bush.
1,023
Bye.
Peas.
Bush.
Bush.
388
16,290
FLOUR.
|^ne. .............. V bbl. $2 15® $2 50
.........
bakers’ and
S up erflue..................... 2 50® 3 00 Southern
fam ily brands.........$3 60® $4 30
Tot. w ’k. 423,816 225,408 178,724
S p rin g wheat extras. 2 80® 3 20 R ye
1,023
flour, superfine.. 3 50® 3 75 S’me time
16,678
M inn, clear and stra’t. 3 60® 4 50
F i n e .......................... 2
70® 21887.
75
..'1,392,1991 775,968 291,4541
W inter shipp’g extras. 2 85® 3 25 Corn meal—
13,202
8,105
90,181
W inter X X a n d X X X . 3 30® 4 30
Western, & c............. 3 00® 3 25
The destination of the
exports is as below.
W ew add th«
™ ® n t s ......................... 4 25® 5 00
irraanAnrlmn*
1 1 ._____ 1» _
Brandyw ine............. 3 20® 3 25
.
Southern supers......... 2 75® 3 00 Buckwheat
flour, per
South n com. e x tra s,. 3 25® 3 50
1 0 0 lb s -----. . . . . . . . . . 2 00® 2 20
Flour.
Wheat.
GRAIN.
C om .
Exports
W h ea tOats—M ixed............... 37
fo
r
week
40
1888.
1887.
1888.
Spring, per bush... 86 ® 95
1887.
1888.
W hite....................... 39
1887.
to—
44
Week,
Week.
Week,
Spring No. 2 ........... 90 ® 91
Week.
Week,
No. 2 m ixed ............ 38
Week,
39%
Jan. 7.
Jan. 8. Jah. 7. Jan 8. Jan.
R ed winter No. 2 . . . 91 ® 92
7.
No. 2 w hite............. 41
Jan.
8.
42
R ed w in te t.............. 86 ® 94
Barley—
Bbls.
Bbls.
W h ite ..................... 85 ^ 94
Bush.
Bush
Bush.
Canada No. 1 ......... 94
Bush.
Un,K ing. 146,460 204,556 239,175 1,081,286
98
West’n m ixed. 59 ® 63
Two-rowed S tate.. 78
Cont’n t ..
82
3,464
20,841 184,641 310,901 156,386 597,215
West’n m ixedN o. 2. 61 % ® 62%
66,358 140,945
Six-rowed State___ 83
8.&O.Am.
86 .
17,779
45,418
Western w hite....... 60 ® 63
Milwaukee No. 2 ... 83
26 ,710
W.
Indies
86
6,427
12,199
y e llo w .... 60 ® 63
900
Malt—State, 4-rowed. 95 @1 00
Brit, col’s
9,9 44
4,454
7,623
W hite Southern.. . .
@
.......
2,425
State, 2-row ed....... 85 ® 90
Oth.c’n ’ts
Bye—
.........
140
817
....... 12
Buckwheat................... 6 0 ® ..
Ì.1 5 4
{State&Pa., $ bush, 67 ® 70
T o ta l... 178,724 291,454
423,816 1,392,196* 225.408Ì 775,96R
THE CHRONICLE.
84
By adding this week’s movement to our previous totals we
have the following statement of exports this season and last
Corn
Wheat.
Flour.
Sept. 1,’S7, Sept. 1,’86. Sept. 1,’87, Sept. 1,’86. Sept. 1,’87, Sept.l.'FH.
Exports to— to Jan.
to Jan.
to Jan.
to Jan.
to Jan.
to Jan.
7, 18t-’8.
8. 1887.
7, 1888.
Bbls.
Bbls.
Bush.
Un.Kingdom
Continent...
S. &C. A m ...
West Indies.
Brit. Col’nies
Otb. countr’s
3,213,755
212,767
361,518
334,031
341,274
12,000
2,231.170
230,880
449,428
282.720
249,894
18,904
Total.........
4.475,345
3,462,996
8,
Bush.
Bush.
8,526.832 14,409,858
5,825.324 9.993,109
15,693
19,938
3,071
9,421
4,505
65,723
22,130
14,408,150
8, 1887.
7, 1888.
1887.
Bush.
24,487,654
6,142.569
1,593,752
195,165
109,033
41,299
14,681
8.008,601
3,454,373
332,610
194,491
5,936
20,501
8,096,499 112,016.542
The visible supply of grain, comprising the stocks in granary
at the principal points of accumulation at lake and seaboard
ports, and in transit by water, Jan. 7, 1888:
I n store at—
N ew Y o rk ............
D o afloat.........
A lb a n y ..................
B u ffa lo..................
“
a floa t...
C h ic a g o ....... .........
“
a floa t....
M ilw au kee...........
D ulU tb.. . . . . . . . . .
T o le d o ...................
D e t r o it .............
O sw ego................
St. L o u is ..............
C incinnati.............
B oston ...................
T o r o n t o ...............
M on trea l..............
P h ilad elp h ia____
P e o ria ...................
Indianapolis.........
Kansas C ity.........
B a ltim ore.............
M in n ea polis.........
8t. P a u l.................
On M ississippi*. . .
On lakes................
On canal & river.
Oorn,
Oats,
Wheat,
bush.
bush.
bush.
1,677,617
2,034,219
8,52ß,259
199,600
30,400
50,300
2,000
291,058 118,395
2,443,059
56,000
......
5,400,065 1,223,322 924,323
282,535
9,731
5,486
2,035,109
6,640,716
8,683
57,927
1,778,440
30,803
69,069
1,162,135
47.000
66,000
4,457,708 1,076,375 1,229,025
32.000 221,000
26,000
116,365 247,487
152,647
22,063
163,8^3
9,084 106,317
159,550
56,072
244,301
589,338
68,960 418,856
64,903
227,481
51,728
108,440
107,308 155,332
378,575
638,079
1,250,625
7,844,724
355,000
130,100
44,800
— -6,300
7,600
Tot. Jan. 7 , ’88. 43.857.126 6,184,914 5,896,187
Tot. Deo. 3 1 .’ 87. 44,421,130 6.025,258 5.976.781
* Frozen in at Commerce, Mo.
Bye,
bush.
10,919
6,000
53.400
68,862
Barley,
bush.
133,475
289,600
312,500
963,236
29,100
349,607
37,380
226,472
10,453
514
900
8,526
18,000
276
3,700
5,050
16,698
73,355
571.000
73,305
114.000
13,926
137,606
13,243
26,952
45,508
2,070
13^228
300,658 3,328,203
295.2213.498.957
t M inneapolis and 8t. Paul not included.
According to Beerbohm’s London cablegram, the amount of
wheat and corn on passage at the dates mentioned stood as
follows:
Week ending Jan. 11.
Crain on Passage.
Wheat.
1,700,000
13.600.000 3.200.000
23.440.000 3.320.000
©P
►
—
©
©•
Î
p
:
CD
20,000
12,360,000
11,60 ,000
T ota l........................................bush.
80,000
20,000
23,960,000
v
TH E DRY GOODS TRADE.
N e w Y o r k , Friday, January 13,1888.
CO to
M ooa
toto
co^a
M CO00
CO
05W© ©00
C -40-4H
OU-CD-4-1
MMM
©©OtOtP*
GOCBtO05M
ÜiÖtOCtO
05<33-4 Ci©
©H‘ ©0<J
M t® tO W
COQOCOO
o®
to to ut co < 1
M<HOOCO
O©
<l© tOOOOO
le-o bototo If*-00
H MM j
COCBCOO O
<105 COCB0>&\
CO0005CBCO
6000CB0505
<1000^40
tOM
OO^M
ioVi
COO
coto
GO
M
05CBCObOGO
0500M05<I
CO005GOCB
<1
OCOto 00CB
CBC0CBC005
CBGOMCB05
30 7¿422
356,335
171,770
105.527
157,364
1^
co©
coco
Wjt*
MMMtO tO
tOtOMMtO
MQ0MMC5
C5CBCB©M
CDCBCOMCB
CB<IC0<IO5
S (V
.“ feS
00 §<
00§
©00-4-4
ococootM
tsp a o œ
WiiXKIO
OM00O05
-H
¡J
©Vteîf».©
OlCOir'-taM
§■
1®'©£©•» g,
wi-* v i ta os
WW05WH
-acoto <100
[
to
tOCOCOCBCO
OQ<I©MGO
MCBOOCOCO
to
Ö
©
CO
M
<1
CO
Vi
M
HMtOlP'tS
O5CBCBMQ0
M00 O CBtO
* ICOCBboto
r-CB<IC5 05
COCOO GOM
COCOCD00M
MCOm MO
60^4 050560
200,711
I 232,581
142,207
67,440
181,497
MM
coto
coa»
coco
<|CO
GO<l
<1-4
to
oco
MQQ
CBCO
^ICO
to
COCB
-4©
CW
CBM
tOQO
-4-4
CB
'ä
CD
M
CO
M05tOGO05
tOCBco to to
GOGO00O M
5,932,158 I
CO
00
05
o
CX
1,098,418
4,833,740
M
©
H
íocoacBOo
M05Mtoto
toccato©
P:
tOHMjSM
V to V o M
05CnCBCOM
COCBtOCO05
39,995 1
tOM
C5 t®tf>QOM
to coco
6060GOCBC5
CO
M<1
050*V 60
COCOGOO 05
CBMQOtOCB
¿w 1
05MtO05M
m ~qoco<i
<|CBCOCB05
862,048 9,168 744,436
4,399,787 20,157 2,970,527
to
05CB
toco
go©
WCB
cc05
MM
to
CO
CO
M
CO
to
M
00
V|
<1
® co © ib© H© © H
0301-4 b3CO
1 5,261,8351 129,325 [3,714,963 i
The dry goods market has displayed rather more activity
the past week, owing to the arri ai of a great many package
buyers from the W tst and South. At first hands there was a
f air demand for most descriptions of spring and summer goods,
and manufacturers’ agents and importers continued to make
liberal shipments on account of former transactions. The jo b
bing trade was irregular and on the whole sluggish, but a good
business in domestics, prints and some sorts of department
goods was done by leading jobbers who cater for the wants of
package buyers. The event of the week was a peremptory
trade sale of 2,000 cases white goods, the production of the
Berkeley Company, Providence, R. I. The sale attracted a
throng of buyers from all parts of the country, but its general
results were less satisfactory than expected. All the goods
were promptly closed out and well drstributed, but prices
averaged low, and left little if any margin o f profit to the mills.
D o m e s t ic C o t t o n G o o d s . —The exports of cotton goods
from this port for the week ending January 10 (the first
week of the new year) were2,265 packages, valued at $133,128.
These shipments include 1,104, to South America, 807 to
China, 158 tQ the East Indies, 72 to Europe, 53 to Central
CO
io
M
00
<0
M
tO
146,449
194,327
125,401
76,545
47,839
40.000
40.000
i;
2,769
8,525
To United K ingdom ................... bush.
To Continent............................... bush.
0
111,294
Week end'g Week end'g A p ril 1 lo
Jan. 7.
Dec. 31.
Jan. 7.
t i " . ô --ca
172,171
1 179,129
110,816
88,103
40,177
The importations of dry goods at this port for the week
Corn.
ending Jan. 12, 1888, and since Jan. 1, and the same facts for
338,000 the corresponding periods of last year are as follows :_______
62,000
g
g
g
g
400,000
p
f* s~gBS-o
g ^ gg
The exports of Indian wheat for the week, year and season
are as below:
In d ia n Wheat Exports.
436,000 1,417,000
I m p o r t a t io n s o f D r y G o o d s .
Week ending Jan. 4.
1,447,000
253,000
224,000
1885.
Jan. 10.
437,000
360,000
320,000
300,000
Prints were in good demand and firm, and there was
a steady movement in printed sateens, lawns, batistes,
ginghams, seersuckers, quilts and white goods, as the result
of new business, and in execution o f back orders.
D omestic W oolen G oods.—The demand for clothing
woolens was light and disappointing to the mill agents.
Heavy cassimeres, coatings and suitings were in strictly
moderate request by clothiers, and light-weight fabrics of this
character were taken in strict accordance with actual require
ments. Some business was done in overcoatings for later
delivery, but cloakiDgs ruled quiet and there was an irregular
demand for Jersey cloths and stockinets. Kentucky jeans
have shown little animation, but there fwas rather more
inquiry for heavy satinets. Flannels and blankets wf re quiet
in first hands, and only in moderate demand by retailers, but
stocks are well in hand and prices remain steady. All-wool
and worsted dress goods were fairly active in movement, and
some pretty good orders were placed for carpets by wholesale
buyers.
F oreign Dry Goods —Although there was comparatively
little improvement in the demand for foreign goods, there
was a freer movement in some descriptions on account of
previous transactions, and the outlook is fairly encouraging.
Wash dress fabrics weye in fair request, as were embroideries,
hosiery and fabric gloves; but other imported goods were so
lightly dealt in that detailed remarks are wholly unnecessary.
Manufactures of—
W o o l.....................
C o tto n .................
S ilk .......................
F la x ......................
M iscellaneous .........
1,630,000 406,000
13.040.000 3,248,000
25.320.000 4,000,000
49,000
1886.
Jan. 9.
108,000
58,000
230,000
40,000
15,765
22,843
345,000
61,000
1887.
Jan. 8.
79,000
63,000
42,000
40,000
1888.
Jan. 7.
Stock o f P rin t Cloths—
H eld b y P rovidence m anuffrs.. 25.000
5,000
F all R iver m anufacturera...
15,000
4,000
Total on m ark et...
Total quarters............
E qual in bushels...........1..
Same week in 18 87.. busb.
Corn.
Wheat.
1,440,000
190,000
America, 29 to Mexico, 21 to the West Indies and 21 to all other
countries. For the corresponding week of 1887 the exports
to all ports reached 3,888 packages, and in 1886 were 2,866
packages. There was a steady demand for plain and colored
cottons at first hands, and large shipments were made by the
leading commission houses on account o f back orders. The
jobbing trade was fair for the time c f year, more than an
average package business having been done by the leading
houses. Prices remain firm, and some makes of drills, corset
jeans, dyed cambrics, etc., were marked up during the week.
Print cloths were less active, but prices continued strong at
3%c. bid for 64x64s and 3}^c. for 56x60s. Stocks last Satur
day, and for the three previous years, were as follows :
T o t a l ................. 1 4,406 590,396 I
E nt’d fo r consumpt 8,525 2,628,381
T o United K ingdom ..qrs.
T o Continent......................
[VOL. X L \ I.
co-ato tots
CC«« © © ■ * !
p-4
WOJ®
O5MO0WO5
ax»©)-*©
©Mww-a
s15^
?S
H*
Pis
00 §
■
005'
ODS
J anuary 14, 1888.]
THE CHRONICLE
fanUsts wad
'gxolwxs © a t o f
N E W EN G LAN D .
U sar
m
yfroxU.
PENN SYE V A N IA .
fBaufcs,
Con r ad
__
Brewster, Cobb
& Estabrook,
35
CO N G RESS
BANKERS AND BROKERS,
AND DEALERS IN FOREIGN EXCHANGE,
BANKERS,
No.
Rea Bros. & C o.,
STREET,
BO STO N .
MEMBERS OF TH E NEW Y O R K AN D
BOSTON STOCK EXCHANGES.
ALSO,
D e a le rs In M u n ic ip a l, S ta te , R a ilr o a d
a n d U n it e d S ta tes R o n d s .
425 W o o d Street, Pittsburg, P a
MEMBERS
New York and Philadelphia Stock Exchanges.
Pittsburg Petroleum, Stock and Metal Exchange.
Private wires to New York, Boston, Philadelphia,
Baltimore and Washington.
W m . G. Hopp er & C o.,
Irving A . Evans & C o.,
B A N K E R S] AND BROKERS;
53
STATE
28 South Third Street,
STREET,
ROSTON.
PHILADELPHIA.
MEMBERS OF BOSTON, NEW YORK AND
PHILADELPHIA STOCK EXCHANGES.
S to c k s a n d R o n d s B o n g lit a n d S o ld
in a ll M a rk e ts.
Desirable SIX PER CENT WATER BONDS and
other first-class securities for sale.
Jo sh u a W ilbour ,
Ch ar les h . Sh eldon , Jb
B en ja m in A . Jackson , W il l ia m Bin ne y , Jr .
Wilbour, Jackson & C o.,
Direct private wire to Green A Ba t e m a n , New
York.
BANKERS AND BROKERS,
No. 53 W E Y B O S S E T S T R E E T ,
E. W . Clark & C o.,
P R O V ID E N C E , R . I.
Dealers in Commercial Paper, Government and
other first-class Bonds and Securities and Foreign
Exchange.
Private telegraph wire to New York and Boston.
Swan & Barrett,
B A N K E R S AND B R O K E R S ,
1 8 6 M id d le S tree t,
P O R T L A N D , M A IN E .
Dealers in Government,State,County, City and Rail
road Bonds, Bank Stocks, Ac.
Desirable Investment Securities constantly on hand
SO U T H E R N .
A . L. Hartridge,
SA VAN N A M ,
BANKERS AND BROKERS,
N o . 3 5 S o u th T h ir d S t., P h ila d e lp h ia .
Railroad, Municipal and other desirable Invest
ment Securities for sale.
Transact a general banking business. Allow Inter
est on deposits.
Members o f the Philadelphia and New York Stook
Exchanges, and connected by private wire with New
York.
P IT T SB U R G H ,
ATLANTA.
Humphreys Castleman,
BROKER AND DEALER IN ALL KINDS OF
SECURITIES.
Bonds and Stocks bought or sold on commission.
Georgia and a lai,ama Securities specially dealt in.
Correspondents —Tobey A Kirk and A.iiutenhofer.
New York.
References—Al lanta National Bank, Atlanta, Qa.,
and Fourth National Bank, New York.
C. W . Branch & C o.,
BANKERS AND BROKERS,
Stat e Ba n k B u il d in g
R IC H M O N D ,
BANKERS AND BROKERS,
No. 57 F O U R T H A V E N U E .
Oldest Pittsburgh members N.Y. Stock Exchange.
Wilson, Colston & C o.,
H. B. MOREHEAD.
W m . Fa ir l e y
H . B. Morehead & C o.,
STOCK, BOND AND NOTE BROKERS,
N o . 5 1 W e s t T h lr d S tree t,
CINCINNATI, OHIO.
N.
W.
Harris &
C o.,
CH ICA G O and BOSTON.
ROMIIQ o f Counties, Cities, Ac., of high grade a
PU™111* specialty. Send fo r D e á crip tfv eX la ta .
George
Eustis & C o.,
BANKERS
n t iv m iv N A T i.
orn o.
I m p o r t a n t N o t ic e .
TO HOLDERS OF KANSAS REAL ESTATE
MORTGAGES:
7
SOUTH
„
Cashier.
assistant
Assistant uasnlt
Cashlt r
The Western National Bank
OF THE
C IT Y OF N E W Y O R K .
CAPITAL,
. . . . .
S 3 ,5 0 0 ,0 0 0
N e w Y ork , May 14, 1887.
s Bank is now opened for business. Accounts
res
tfully solicited. The usual banking facilities
extended to customers.
Orders for purchase or sale o f securities will
receive careful attention.
Foreign Exchange bought and sold. Facilities for
keeping accounts in Sterling Exchange, subject to
draft in kind, will be afforded. The methods o f re
ceiving such deposits and making payment against
them will be subject to arrangement.
THE NATIONAL PROVINCIAL BANK )
m m , t,-,®®' ENGLAND (Limited,)
>London.
THE UNION BANK OF LONDON (L’d),)
HEINE A CO., P a r is .
JOHANN GOLL A SOEHNE, | Frankfort-on8. BLEHCHROEDEB, Berlin. ’
iUal“ *
DEUTSCH SCHWKIZERISCHE CRED->
„ „
IT BANK,
\ » t « G a il,
V . B L A N K R N H O R N , C a s h ie r .
Bank o f Buffalo,
BUFFALO, N. Y .
8.8. J ewett . Pres. W m . C. Cornwell , Cash’r.
C a p ital....3 3 0 0 ,0 0 0 I Surplus........$ 3 5 0 ,0 0 0
This Bank has superior facilities for making Col
lections in and out o f the city on the most liberal
terms, and with careful attention to the best inter
ests of its correspondents.
Correspondents :—Importers’ A Traders’ Na
tions. Bank and Chemical National Bank, New York;
Merchants’ Loan A Trust Co., Chicago; Union Bank
of London, London.
W. T. Blackw ell , Pres’t.
P. A. W il e y , Cashier.
The Bank o f Durham,
N . C .,
Pay Special Attention to Collections.
FIRST-CLASS FACILl’ftES.
New York Correspondents—The National Park Bank
aod Seventh Ward National Bank,
J. S. A lex an de r , Pres. A. A. A lexan de r , Casfa’r >
COLLECTIONS AND INVESTMENTS MADE.
Correspondence invited.
MERCHANTS» NATIONAL BANE,
R IC H M O N D , V IR G IN IA .
Collections made on all Southern points on best
terms; prompt returns.
JOHN P. BRANCH, President.
John F. Gl e n n , Cash. F red . R. scott, Vice-Pres.
WE SOLICIT TH E AGENCY
OF
N A T IO N A L
BANKS
A t a C h a rg e o f $ 5 p e r A n n u m .
GREEN & CUNNINGHAM,
R e a l E sta te B r o k e r s ,
1405 F STREET, WASHINGTON, D. 0.
Reference: Hon. A. U. W y m a n , Ex-Treasurer
0 .8 ., Omaha, Neb.
fin a n c ia l.
Investment Securities
ESTABLISHED IÖ5Ö.
BOUGHT AND SOLD.
E u g e n e R . C o le ,
No. 1 W IL L IA M
Joseph G. Martin,
AND
W ANTEDt
Southern Central o f N. Y. lets.'
Middletown Unionville A Water Gap5e
Indianapolis A Vincennes lsts and 2ds.
Scioto Val' ey Bonds, all issues.
A L I1 E »T E . H A C H F IE L D ,
N o . 5*8 P in e S tr e e t.
STREET,
(HANOVER SQUARE.)
S T R E E T ,
b a l t im o r e ,
TRANSACT A GENERAL DOMESTIC AND
FOREIGN BANKING BUSINESS.
.
Send to HODGES A KNOX, TOPEKA, KANSAS
for Free tnuphlet containing the compiled Laws o'
Kansas relating to Real Estate Mortgages.
BANKERS,
No.
___
H. A . Sm ith ,
SAN A N T O N IO , T E X A S .
BAN KERS AND BROKERS,
(Members o f Baltim ore Stock E xchange),
S T A T IO N E R AN D P R IN T E R .
B A L T IM O R E .
Supplies Banks, Bankers, Stock Brokers and Corpo
(INVESTMENT and SOUTHERN SECURITIES a
specialty.)
rations with complete outfits of Acoount Books mad
Correspondence solicited and information fur. Stationery
t3T~ New concerns organising will have their orders
nlshed.
promptly executed.
N. Y. Correspondents—MoKlm Brothers A Co.
Robert Garrett &Sons,
„
Vice-Pres’t.
~
«•
Texas National Bank,
W ESTERN .
Private wires connecting with Washington. Bait!more, Philadelphia and New York.
T H O M A S B R A N C H & CO.,
F. Bla n k e n h o r n ,
President.
DURHAM ,
Whitney & Stephenson,
V A.
BANKERS AND COMMISSION MERCHANTS,
R IC H M O N D , V IR G IN IA .
Circulars and Information on funding the debts of
Ytrglnla and North Carolina free o f cost; one-eighth
percent charged for funding. Southern Railroad
and State and City Bonds bought and sold.
PA.
ESTABLISHED 1871.
G A .,
SECURITY
BROKER.
Buys and sells, on commission all classes o f Stocks
and bonds
Negotiates loans on marketable securities.
New York Quotatians furnished by private ticket
every fifteen minutes.___________
Jordan .
DRAW ON
BANKERS AN D BROKERS,
No.
n.
Ch ar les J. Ca n d a ,
STO CK B R O K E R ,
EALER IN INVESTMENT SECURITIES
No* 1 0 S ta te ,S tr e e t, B o s t o n ,
Staten Island Securities
A S P E C IA L T Y .
G as. , Railroad ¡.an
Electric Light Co.
Stocks.
GKO. R . R IP L E Y ,
6 6 . B r o a d w a y , R o o m .g ,
THE
▼Iti
CHRONICLE.
[V ol. X L VI.
OianatUan and poteteti faults and faufcers.
F O R E IG N .
CAN ADIAN .
[ESTABLISHED 1818.j
8 1 2 ,0 0 0 ,0 0 0 G old
- 8 0 ,0 0 0 ,0 0 0 G o ld
C A P I T A L P a id In
SU RPLU S -
Hon. Sir DONALD A. SMITH, President.
W. J. BUCHANAN, General Manager.
Railway Share Trust Co,
(LIMITED),
NO. 4
B A N K
B U IL D IN G S
LONDON, ENGLAND.
N E W YORK OFFICE:
N os. 5 9 & 61 W A L L S T R E E T ,
WALTER WATSON,) * „ Antj)
ALEX’R L a n g ,
J Agents.
The Bank of Australasia.
THE
Bank o f Montreal.
(Incorporated by Royal Charter, 1835.)
4 T h r e a d n e e d le S tree t, L o n d o n .
Paid-up Capital,
£1,600,000
Reserve Fund. - - - - - - 800,000
Reserve Liability of Proprietors
under the Charter - - - - 1,600,000
Letters of Credit and Drafts issued on any o f the
numerous branches o f the Bank throughout Aus
tralia and New Zealand.
Bills negotiated or sent for collection.
Telegraphic transfers made.
Deposits received in London at interest for fixed
periods, on terms which may be ascertained on ap
plication.
PRIDEAUX SELBY, Secretary.
Hong Kong & Shanghai
C a p ita l P a id
U p , £ 9 7 1 ,3 6 0
Sterling;.
Buy and sell Sterling and Continental Exchange
and Cable Transfers; grant Commercial and Travel
This Company undertakes the business of Trustee
ers’ Credits, available in any part of the World;
Issue drafts on, and make collections in, Chicago to Loans of approved Railways, negotiates and
and throughout the Dominion o f Canada.
issues Loans on the London Market, acts as Agent for
L o n d o n O ffice. N o . 2 2 A b c liu r c li L a n e .
f o r e i g n .
Railways and other Corporations, either in the mat
B A N K I N G C O R P O R A T IO N .
Paid-up Capital.............................................$7,500,000
Reserve Fund............................................. 3,900,000
Reserve Liability o f Proprietors............... 7,500,000
The Corporation grant Drafts, issue Letters o f
Credit for nse of Travellers, and negotiate or collect
Bills payable at Bombay, Calcutta, Singapore,
Saigon. Manila, Hong Kong, Foochow, Amoy,
Ningpo, Shanghai, Hankow, Yokohama, Hiogo, San
Francisco and London.
A . M . T O W N S E N D , A g e n t , 5 0 W a l l S$.
ter o f payments of Interest on Loans, Dividends on
Imperial Bank of Canada
or Registration of Stocks in London, or otherwise.
C A P I T A L (p a id u p ) , - - 8 1 ,5 0 0 ,0 0 0
SU RPLU S, - - - - - - $ 5 5 0 ,0 0 0
H. 8. HOWLAND, Pres’t. D. R. WILKIE, Cashier.
H E A d O F F IC E
TORONTO.
BRANCHES IN ONTARIO.
Essex Centre,
Fergus,
Galt,
Ingersoll.
Niagara Palls. Toronto.
Port Colbome.
do Yonge8t.Br.
St. Catharines. Welland.)
St. Thomas.
Woodstock.
BRANCHES IN NORTHWEST.
Winnipeg.
Brandon.
Calgary.
Agents in London ;
Agents in New York :
Lloyd’s Barnett’s & Bos- B a n e of M o n t r e a l .
ai quet’s Bank, limited, i
Promptest attention paid to collections payable in
any part of Canada.
..
.. .
Approved Canadian business paper discounted at
the Head Office on reasonable terms, and proceeds
remitted by draft on New York.
Dealers in American Cur’y and Sterling Exchange.
M e rch a n ts’ Bank
OF
C AN AD A.
$5,799,200 Paid Up.
..................$1,700,000
Capital, •
Reserve,
President, ANDREW ALLAN, Esq.
Vice-President, ROBERT ANDERSON, Esq.
R E A D O F F IC E , M O N T R E A L .
GEORGE HAGUE. General Manager.
JOHN GAULT, Branch Superintendent.
BANKERS :
LONDON, ENG.—The Clydesdale Bank (Limited.)
NEW ÏORK—The Bank o f New York, N. B. A.
The New York Agency buys and sells Sterling Ex
change, Cable Transfers, Issues credits available in
ail parts of the world ; makes collections in Canada
and elsewhere and issues drafts payable at any of
the offices o f the bank in Canada. Every descrip
tion of foreign banking business undertaken.
N e w Y o r k A g e n c y , N o . 6 1 W a l l S treet.
HENRY HAGUE,
1 Agents
JOHN B. HARRIS, JR., J
AGENCY
OF
THE
Cable Address—PATT, L ondon .
B ritish N orth A merica ,
No. 52
WALL
STREET.
Buy and sell Sterling Exchange and Cable Trans
fers. Issue demand drafts on Scotland and Ireland,
iso on Ganada. British Columbia and San Francisco.
■ C I R C U L A R NOTES issued inPoundsSterlffig
available lu all parts of the world. C O M M E R
C I A L C R E D IT S ISSU ED for use in Europe,
China, Japan, East and West Indies and the Brazils,
River Plate, &o.
Bills collected and other banking business trans
acted.
D. A. MCTAVISH, ) »gent*
H. STIKEMAN.
S
THE
F ID E L IT Y & C A SU A L T Y CO.
R E G IS T R A T IO N O F
American Kailway Shares.
THE ENGLISH ASSOCIATION OF AMERICAN
BOND AND SHAREHOLDERS (LIMITED) are
prepared:
„ ,,
1. To obtain Registration of American Railway
Shares In the name of the Association, lodge them
with the London & Westminster Bank, and issue
against the deposited Shares the Certificates o f the
Association, countersigned by the Bank. The certi
ficates have coupons for dividends attached, and
upon presentation of the advertised coupon at the
office o f the Association the dividends may be ob
tained the same day they are payable in the U. S.
2. Or they will obtain Registration of Shares in
the name of the Association, deliver up the Shares
duly endorsed to the owner, and pay the dividends
at tne office of the Association in London the same
day they are payable in the United States.
3. Or they will obtain Registration of Shares in
the owner’s name, and collect the dividends by
power of attorney.
Under plan No. 1 British holders of American
shares are enabled when necessary to take immedi
ate combined action in voting, the power being used
by the Association on instructions from holders of
certificates representing shares in any particular
railway. This plan also affords absolute security to
lenders of money on American shares, as Associ
ation certificates are only issued upon newly-verified
share certificates.
The original American shares can always be re
exchanged atshort notice, free of expense, on pre
sentation of the Association’s Certificates at the
office.
The charge for registration and for the Associ
ation’s Certificates is 3d. per share.
SAMUEL POPE, Q.C., Chairman.
JOSEPH PRICE, Managing Director.
F. P. BAXTER, Secretary.
Nos. 5 and 6 Great Winchester St., London, E. C.
The Association acts as Transfer Agents in Lon.
don for American Railway Companies, in conjunc
tion with the London agents of the Mercantile
Trust Company of New York as Registrars.
Agents in the United States,
POOR & GREENOUGH, 30 Wall St
N e g o tia te Railway, State and City loans.
E x e cu te orders for Bonds, Shares, etc., on Com
mission, and transact a general Banking and
Commission Business.
S p e cia l a tte n tio n given to the execution of
orders for Securities on the New York, Lon
don and Amsterdam Exchanges, in corres
pondence with
BLAKE
18
28
BROTHERS
W a l l S tree t, N e w
&
CO.,
Y ork,
S tate S tree t, B o s t o n , M a s s ,
A D O L P H BO ISSE V A IN & CO
A m s te r d a m , H o l l a n d .
____
THE
Anglo-Californian Bank
Heinemann & C o.,
(LIMITED).
L O N D O N . Head Office, 3 Angel Court.
8 A N F R A N C I S C O Office, 422 California 8t.
N E W Y O R K Correspondents,
J. & W. Seligman & Co.
B O S T O N Correspondes, Massachusetts N. Bb.
62 Gresham House, E. C.,
A iM *io rized C a p it a l, - - • 8 6 . 0 0 0 , 0 0 0
P a id -u p C a p it a l, - - - - 1 ,5 0 0 ,0 0 0
R e s e r v e F u n d , - - - - - - 4 0 0 ,0 0 0
Transact a general banking business. Issue Com
mercial Credits and Bills o f Exchange,available in all
parts o f the world. Collections and oiders for Bonds,
Stocks, etc., executed upon the most favorable terms.
Ï g NATZST e Î n h 'à RI',1} Managers,
Pi Si L1LKMTHAL, Cashier)
Issues ACCIDENT POLICIES, containing all
modern features.
_
Also PLATE GLASS and BOILER POLICIES of
approved forms.
Agents will appreciate the advantage o f dealing
with a company which does more than one line o f
business.
OFFICERS.
WM.M.RiCHABDS.Prest. GEO.F.SEWARD.V.-Prest.
J ohn M. Crane , Sec.
R obt .j . H ildas , Ass. Sec.
DIRECTORS.
Geo. S. Coe,
A. B. Hull.
A. S. Barnes,
J. S.T.Stranahan, H A. Hurlbut, J.G.McCullough,
A. E. Orr,
J. D.Vermilye, T. S. Moore,
G. G. Williams, John L. Riker, J. Rogers Maxwell,
Wm. M. Richards,
Geo. F. Seward.
B o n d s o f S u r e ty s h ip .
NO
OTHER BUSINESS.
The Guarantee Co.
OF NORTH AMERICA.
Oash Capital....................
$300,000
Assets and Resources over............................ 900,000
Deposit with Insurance Department............ 240,000
President:
Vice-President:
Sib
alex. t .
Ga l t ,
H on . j a s . Fe b r ie r .
Managing Director; Ed w a r d Ra w l in g s .
NEW YORK OFFICE:
NO. I l l B R O A D W A Y .
D. J. TOMPKINS, Secretary.
New Y o r k D ir e c t o r s —Joseph W.DrexeKF. P.
Dicott, Logan C. Murray, J.E. Pulsford, John Paton,
E. F. Winslow, Erastus Wiman W. Butler Duncan.
^ tje a m s ïtip s .
LONDON, E N G LA N D .
AND
F O R E IO N .
OF NBSV YORK.
N os. 2 1 4 & 2 1 6 B R O A D W A Y .
CAPITAL, $250,000.
ASSETS, about $650,000
Issues SURETY BONDS, guaranteeing the fidelity
of persons in positions of trust, such as employees of
Railroads, Banks, etc., also Administrators, Guar-
Blake, Boissevain & C o .,
B a n k
OF
IP is c je lla tM D U S .
LONDON.
S o licit accounts and agencies o f Banks, Railways
Corporations, Firms and Individuals upon
favorable terms; also orders for the pur
chase and sale of Bonds, Shares, Jfce., Ac. on
the Stock Exchange.
In terest allowed on Deposits, subject to 60-days
sight drafts, at Bank of England rate, and
one per cent below that rate subject to
demand draft*.
N egotiate Railway. State and Citfr'.LoftwM
ONLY
Direct Line to France.
GENERAL TRANSATLANTIC CO.
B e tw e e n N E W Y O R K a n d H A V R E
From Pier (new) 42, North River, foot of Morton St.
LA NORMANDIE, de Kersablec, Sat., Jan.14, 6A.M.
LA GASCOGNE, Santelli.......... Sat..Jan. 21,11 A.M.
LA BOURGOGNE, Frangeul....Sat., Jan. 28,5 A.M.
Travelers by this line avoid both transit by English
railway and the discomforts of crossing the Channe
in a small boat.
P r ic e o f P a s s a g e (including wine):—To H avreFirst cabin, $100 and $80 ; second oabin, $60 ; steer
age, $22—including wine, bedding and ntensils. Re
turn tickets at much reduced rates. Checks onBanque
Transatlantique, Havre and Paris,in amount to suit.
S p e cia l T r a i n f r o m H a v r e to P a r is
The Compagnie Generale Transatlantique delivers
at its office in New York special train tickets from
Havre to Paris. Baggage checked through to Paris
without examination at Havre, provided passengers
have the same delivered at the Company’s dock in
New York, Pier 42 North River, foot of Morton St.
at least two homs.before the departure.of a.steamer
L O U IS D E B E B I A N , A x e n t ,
* » 9 R . w l l n i r «.• • • >
JOSEPH Gl LLOTTS'
STEEL-PENS
! GOLD MEDAL PARIS EX P O S ITIO N -I8 7 8.j
RESFEOTM PEN&J
JàNüaRY 14, 1887.]
îx
THE CttftOKïCiÆL
%usnxmxtz.
p iiscjeiiatueows.
Mohr, Hanemann& C o., Bliss, F a b y a n & C o . ,
OFFICE OF THE
COTTON
EXCHANGE
B U IL D IN G ,
New York, Boston, Philadelphia,
New York.
SELLING AGENTS FOR LEADING BRANDS
B R O W N & B L E A C H E D S H IR T IN G S
A N B S H E E T IN G S ,
P R I N T S , D E N IM S , T IC K S , D U C K S, Ac
Special attention Given to the Execution
OF ORDERS FOB FUTURE CONTRACTS.
T o w e l« ,Q u i l t s , W h i t e G o o d s A H o s ie r y
D rills, Sheetings, Ac, fo r E xport Trade.
A T L ANTIC
Mutua] Insurance C o .,
Robert Tannahill & Co.
NEW YORK, January 24,1887.
The Trustees, in conformity to the Charter oi
Cotton Commission Merchants,
the Company, submit the following Statement
of its affairs on the 31st December, 1886:
Premiumson Marine Risks iron.
C o tto n E x c h a n g e B u il d in g , N e w Y o r k ,
1st January, 1886, to 31st
December, 1 8 8 6 ............... $3,809,250 53
S pecial a tte n tio n g iv e n t o th e purchase and sale o f
Premiums on Policies not marked!
F U T U R E CO N TRACTS
oft 1st January, 1 8 8 8 - 1 , 4 2 6 , 0 4 9 46 In N ew Y o r k a n d L iv e rp o o l.
Total Marine Premium. . . . . $5,235,299 99
Premiums marked oft from 1 st
January, 1886, to 31st Decem
ber, 1886............................... $3,8 A7,699
Losses paid during the same
period................................... $2,206 5 8 8
Cotton Commission Merchants,
86
Amount...............................$12,444,511 69
BIX PER CENT INTEREST on the outstand
ing certificates of profits will be paid
he
holders thereof, or their legal representatives,
on and after Tuesday, the 1st of February next
THE OUTSTANDING CERTIFICATES of
the issue of 1882 will be redeemed and paid to
the holders thereof, or their legal representa
tives, on and after Tuesday, the 1st of February
next, from which date all interest thereon wil
cease. The certificates to be produced at the
time of payment and canceled.
A DIVIDEND OF FORTY PER CENT is
declared on the net earned premiums of the
Company, for the year ending 31st December,
1886, for which certificates will be fawned on
and after Tuesday, the 3d of May next.
By order of the Board,
icretftr*',
NORFOLK, VA.
Geo. H . McFadden& Bro.
COTTON MERCHANTS,
William v . Morgan,
Charles H. Marshall,
Frederick H. Cossitt,
William Bryce,
John Elliott,
James G. De Forest,
CharlesD. Leverii b,
John L. Riker,
N. Denton Smith)
George Bliss,
Isaac Fell,
Edward1 Floyd-Jo
Anson 17. Hard,
Thomar Maitland,
John E Igar Johnson,
Ira Bursley,
James A. Hewlett,
George H. Maoy,
JOHN D. JONES, President’
W.
H. H. MOORE, Vice-President,
A. RAVEN, 2d Viee-President.
A ls o , A g e n ts
U N IT E S S T A T E S B U N T IN G CO.
f u ll supply, a ll W id th s and C olors, alw ays in s to c k
COMMISSION M E R C H A N T S,
M em bers o f t h e C otton , C offee and P ro d u o e Exoh’a
agency
op
THE HAX ALL CRENSHAW CO.,
Liverpool Correspondents ,
R IC H M O N D , V A .
Standard B rands o f F lo u r f o r S hipm ent t o W arm
Clim ates alw ays on hand.
F R E P E H IC
IE B E O A
Sr CO.
Rountree & C o.,
CO M M ISSIO N M E R C H A N T S ,
C O T T O N E X C H A N G E . N E W Y O R K , and
N ORFOLK, VA.
C O T T O N , G R A IN , P R O V IS IO N S ,
s t o c k s a n d P e tr o le u m .
O rders e x e c u te d In N ew Y o r k , C h icago and L iv
e rp o o l. A ll grades o f c o tto n su itable t o spinners’
w ants offered o n fa v o r a b le term s.
B. F. B A B C O C K & CO .
COMMISSION MERCHANTS,
IT
Crenshaw & Wisner,
1 6 & 1 8 E x c h a n g e P la c e , N e w Y o r k ,
P H IL V D E L P H IA .
W a te r
S treet,
ORIENT GUANO MANUFACT’G CO.,
O R IE N T , L . I,
Standard Superphosphates.
SULPHUR MINES COMPANY
O F V IR G IN IA .
H ig h G rade P y rite s f r e e fr o m A rse n lo.
Jo h n l . B u l l a r d .
H e n r y H . W hbklsb.
BAGGING.
W A R R E N , JONES A
R e c e iv e con sign m en ts o f C otton an d o th e r P ro d u ce ,
and e x e c u t e ord e rs a t t h e E x ch a n g e s In L iv e r p o o l.
R e p re se n te d in N ew Y ork a t th e office o f
S A M ’L D. B A B C O C K
S3 Nassau Street, N ew Y o r k .
Geo. W . Baily & C o.,
M a n u fa ctu re rs
IR O N
P u re
J u te * B a g g in g .
CO TTO N
T IE S .
Bullard & Wheeler,
COTTON COMMISSION MERCHANTS
N EW YORK.
ALSO
B A G G IN G
N ew Y o r k .
of
IMPORTERS OP
[COMMISSION MERCHANTS,
COTTON E X C H A N G E B U IL D IN G ,
GRATE,
S T . L O U IS , M o .
L IV E R P O O L ,
ANB
IR O N
T IE S ,
(F O R B A L IN G C O T T O N ).
A d v a n c e s m ad e o n C o tto n C on signm ents and S pecial
A tte n tio n g iv e n t o purohase an d sale o f F U T U R E
C O N T R A C T S O F C O TT O N .
S pecial a tte n tio n t o orders fo r c o n tr a c ts f o r fu tu re
d e liv e ry o f co tto n .
H.
C L IS B Y A
CO.,
Geo. Copeland & C o.,
COTTON BROKERS,
COTTON BUYERS,
M ONTGOM ERY,
J. D. Jones,
W. H. H. Moore,
A. A. Raven,
James Low,
Wm. Sturgis,
Benjamin H. Field,
Josiah O. Low,
Edmund W. Corlies,
Robert B. Mintum,
William Degroot,
Horace Gray,
William E. Dodge,
William H. Maoy,
A. Hand,
John D. Hewlett,
William H. Webb,
Charles P. Burdett,
Henry W. Hawley,
Adolph Lemoyne,
A n d all kinds o f
O O TTO N
CANVAS,
F E L T IN G
D U C K , CAB
C O V E R IN G , B A G G IN G , R A V E N S D U C K , b a i t .
T W IN E S , Ac., “ O N T A R IO ” S E A M L E S S
B A G S , “ A W N IN G S T R IP E S ,
N o . 1 0 9 D u a n e S tree t.
SPINNERS ORDERS SOLICITED.
JO H N
T R U 8¿T E £ ¡8 ;«
C O T T O N S A IL D U C K
P H IL A D E L P H IA .
68
The Company has the following Assets« viz.:
United States and State of New
York Stock, City, Bank and
otherStocks..........................$9,382,3 '
Loans secured by Stooks and
otherwise....... ......................
707,100
Real Estate and Claims due the
Company, estimated at...........
501,647 81
Premium Notes and Bills Re
ceivable.................................. 1,568,13a 2 0
Cash in Bank.............................
285,254 68
M an ufacturers and D ealers la
NO. 116 CHESTNUT STREET,
NO. 42 M AIN STREET,
Returns of Premiums and Ex
penses................................... $841,378 15
•7• H . C H A P M A N ,
Edward H . Coates & Co.
Brinckerhoff, Turner
& C o.,
ALA.
134 P E A R L
STREET, NEW Y O R K .
Pu r c h a s e o n l y o n o r d e r s f o r a o o u a ts s T o n
ABtrassburger. B.W.Strassburger. Leo.Strassburger
Strassburger & Sons,
N o. 16
Com m erce S t .,
M O N TG O M E R Y,
A L A .,
Dennis Perkins & C o.,
COTTON BROKERS,
1 2 5 P e a r l Street, N e w Y o r k .
O rders f o r S p o t C o tto n an d F u tu res p rom p tly
e x e c u te d .
SECURE B A N K VAULTS. G.
Schroeder
&
C o.,
S u ccessors t o W A R E A 8 C H R O B D H R ,
COMMISSION M ERCHANTS,
Cotton Exchange Building,
NEW
WELDED CHROME STEEL AND IRON
in R o u n d an d F la t B ars, and 5 ply P la te s a n d A n g le
FOR SAFES, VAULTS, &o.
C a nnot b e Saw ed, Cut o r D rilled , a n d p o s itiv e ly
B u rg la r-P ro o f.
CHROME
Circulars Free.
STEEL
W ORKS,
B R O O K LYN , N. V.
YORK.
O rders f o r fu tu r e d e liv e ry o f C otton e x e c u te d In
N ew Y o r k an d L iv e r p o o l : also f o r G ra in and P r o
vision s 1h N ew Y o r k and Ch icago.
W alter
CO TTO N
&
F atman,
BROKERS,
*8 BEAVER? STREET, N E W YO R K.
THE CHRONICLE
X
JamjarY 14,1888.]
U X iB C ß lla n v m x s ,
© 0 ÌÌ0 tt.
Woodward
Walter T. Hatch.
Nath’l W. I. Hatch.
Stillman,
&
W . T . Hatch & Sons,
MERCHANTS,
I N M A N , S W A N N & Co
Post Building, 16 & 18 Exchange Place,
NEW
YORK.
COTTON MERCHANTS,
L O A N S M A D E O N A C C E P T A B L E S E C U R IT IE S .
Bpeciad A ttention
tor
to o rd ers por
Contracts
Fu tu r e D e l iv e r y o r Cotton .
New Y o r k .
CO TTON . A L L G R A D E S , S U IT A B L E T O W A N T S
O F S P IN N E R S ,
BANKERS,
14 NASSAU STREET, NEW YORK.
D p ,„ ™ rumrrnen i{ 81 03 82 Chapei
ChurchgStreet,
Y.
t.. New If.
Haven
b r a n c h o f f ic e s
P erson al a tte n tio n g iv e n a t t h e E X C H A N G E S to
t h e p urchase an d sale o f STO C K S a n d B O N D S fo r
cash o r o n m argin.
D E P O S IT S R E C E IV E D —s u b je c t t o ch e o k a t sight
—w ith in te re s t u p o n balan ces.
S pecial a tte n tio n paid t o IN V E S T M E N T S and
a cco u n ts o f C O U N T R Y B A N K E R S .__________ _
The Safe
Hubbard, Price & Go.,
Williams, Black
C o.,
&
W IL L IA M
Price, Reid & C o.,
NORFOLK, Y A .
NEW YORK.
CO TTO N , G R A IN ,
PR OVISIO N S, CO FFER ,
STO CKS, P E T R O L E U M ,
ORDERS EXECUTED IN
T H E O F F IC E S H A V E B E E N
NEW LY
F U R N IS H E D W I T H E V E R Y IM P R O V E M E N T .
H A V E A D D E D L A R G E A N D IM P R O V E D S A F E *
L ib e ra l adva n ces m ade o n C o tto n con sign m en ts.
Special a tte n tio n g iv e n t o t h e sale o f c o t to n t o a r
r iv e o r in tran sit f o r b o th fo re ig n and d om estie m ar
kets. O rders f o r B'uture C on tracts e x e c u te d in N ew
Y ork and L iv e rp o o l.
L e h m a n , s t e r n a Co .,
L e h m a n , j j u k k a Co..
N ew O rleans, L a .
. M on tgom ery, A la .
S U IT A B L E F O R B A N K E R S A N D B R O K E R S .
L E H M A N B R O S.,
C otton
F actors
140, 142 & 146 BROADWAY
F R A N C IS M . JE N C K S .
P r e s id e n t'
G e o r o e H . V o s e , Secretary.
Bethlehem Iron Comp’y
AND
Bloss,
&
S E C U R IT Y .
Cotton Brokers & Commission Merchants
NEW YORK, CHICAGO, NEW OR
LEANS, ST. LOUIS, LIVERPOOL,
HAVRE, &c.
Gwathmey
OFFERS UNEQUALED
AND
S T R E E T ,1
Deposit Co.
OF N E W YORK.
117 P earl St., N ew Y o rk ,
BANKERS AND COMMISSION MERCHANTS,
1
H enry P. Hatch.
A rth u r H . Hatch.
C O M M IS S IO N
40 and 42 Wall Street,
M ERCHANTS,
N o. 40 E X C H A N G E P L A C E ,
COMMISSION
MEMBERS OF THE OOTTQN, COFFEE A N D
PRODUCE EXCHANGES,
U p -t o w n Oi t i c e . No. 904 Ch u r c h Street ,'
N ew Y ork ,
MERCHANTS,
No. 128 PEARL ST., NEW YORK.
O rders e x e c u te d a t th e C otton E x ch a n g e s in N ew
Y ork and L iv e rp o o l, and ad va n ces m ade o n Cotton
and o t h e r p ro d u ce co n sig n e d t o ns, o r t o o u r co rre s
p o n d e n ts in L iv e r p o o l: M essrs. L . R o se n h e im A
S on s and A . Stern A Co.; in L o n d o n , M essrs. B .
N ew gass &Co.
O rders f o r fu t u r e d e liv e ry o f C otton e xecu ted in
N ew Y ork and L iv e r p o o l; also f o r Grain an d P r o
v ision s in N ew Y o r k a nd Ch icago.
M a n h a tta n B u ild i n g ,
N ew Y o r k .
Henry Hentz & C o.,
COMMISSION
MERCHANTS,
8 S o u th W i l l i a m S t., N e w Y o r k .
EXECUTE ORDERS FO R FU TU RESD ELIV E R Y
C O T T O N
a t th e N E W Y O R K . L IV E R P O O L A N D N E W O R
L E A N S C O TT O N E X C H A N G E S . A ls o ord ers f o r
J t ïB u v a t ïJ C je *
C O F F E R
1888.
at
t h e N E W Y O R K C O F F E E E X C H A N G E , an d
G R A IN AND PR OVISIO N S
67th Semi»Annual Financial Statement
a t t h e N E W Y O R K P R O D U C E E X C H A N G E and
th e C H IC A G O B O A R D O F T R A D E .
OF THE
Correspondents
IN S U R A N C E
OF HARTFORD,
COM PANY,
CONN.,
(IN C O R P O R A T E D 1836.)
At Close of Business December 31st, 1887.
CASH
C A P IT A L ,
-
ASSETS
$2,000,000.00
AVAILABLE
FOR FIRE
LOSSES,
F IR E
AS FOLLOWS:—
TOTAL CASH ASSETS,
-
■
*
*
■ -
-
-
»
* .
■-
*
i
-■
-
-
r .
$382,573.68
147,800.00
592,176.00
348,410.00
2,104,795.00
107,350.00
230,974.24
32,570.00
810,350.00
21,470.21
$ 4 » 7 7 8 » 4 6 9 .1 3
L IA B IL IT IE S .
Cash Capital,
.
.
.
Reserve fo r Outstanding Losses,
Reserve fo r Re-Insurance,
N ET SURPLUS,
TOTAL ASSETS,
Total Losses Paid
*
-
-
-
-
-■
■-
-■
-
* $2,000,000.00
196,052.39
1,570,726.37
1,011,690.37
$ 4 ,7 7 8 ,4 6 9 .1 3
since Organization of Company,
$ 22, 7 8 4, 0 0 3 .5 7
H . K E L L O G G , P r e s id e n t ,
A . W . J I L L SON, V ic e -P r e s id e n t .
D . W . € . S K I L T O N , S e c r e ta r y .
G E O . H . B U R D I C K , A s s ’ t S e c r e ta r y ,
H. M. MAQILL, General Agent Western Department, Cincinnati, Ohio.
t h r o . F. SPEAR, Assistant General Agent Western Department, Cincinnati, Ohio,
A< B. MAG1LL, General Agent Pacific Department, San Francisco, California,
Delaware Mutual
Safety Insurance Co.
OF P H IL A D B P H IA .
$ 4, 778,469.13
Cash oh Hand, in Bank, and w ith Agents,
United States and State Stocks and Bonds,
H artford Bank Stocks, »
Miscellaneous Bank Stocks,
Corporation and Railroad Stocks and Bonds,
- '
County, City, and Water Bonds, Real Estate,
Loans on Collateral,
R eal Estate Loans,
Accum ulated Interest and Rents,
-
M essrs. Sm ith, E d w ards & C o., c i tto n B rok ers,
L iv e r p o o l.
Jus. Lea M cL e a n , N ew O rleans.
AND
M A R IN E .
C A P I T A L S T O C K ...................................... *360,000 00
O utstan din g S c r ip .................... ....................
710,060 00
R e se rv e t o rein su re O utstanding R isk s
an d all o th e r L ia b ilitie s...........................
902,613 30
Surplus o v e r Capital a n d Scrip..................
379,606 00
T O T A L A S S E T S ................................... $1,719,209 98
N ew Y ork
O ffice, 7 5
R e a v e r S tree t,
JT. R A Y M O N D S M I T H , A g e n t .
Phenix Insurance Co.
OF B R O O K L Y N ,
Office, 195 Broadway, New York City.
Statement o f Company le t D ay o f Jan.,f1887.
C A S H C A P I T A L ,......... ................................ $1,000,000
R e s e r v e f o r u n ea rn ed p rem iu m s............ 3,466,886
360,X07
R e s e r v e f o r un p aid l o s s e s ................... .
Net surplus... ...........
Cash assets....................
STEPHEN
667,086
S8SS
PHOENIX
$5,383,171 08
C R O W E L L , P r e s id e n t .
W M . R . C R O W E L L , V ice -P re s id e n t.
P H I L A N D E R S H A W , S ecretary.
G E O . H . F IS K E , A ssista n t S ecretary.
F R A N C IS P . B U R K E , S60’y L o c a l D e p t
C o m m e r c ia l
U
n io n
A s s u r a n c e Co., l i m i t e d ,
OF LONDON
Office, Car, Pine <9 William Sts., JT. V,
@FedFRASER