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H U N T ’ S M E R C H A N T S ’ M A G A Z I N E ,1
3k
p ttM p x p e «,
REPRESENTING THE IN D U STR IA L
VOL 4L
N E W YORK, JAN U ARY 15, 1887.
Iftuauxial.
fin a n c ia l.
- A M E R IC A N
Bank N o t e C om pany,
78
TO
86 TRINITY PLACE,
NEW YORK.
B u n in e * * F o u n d e d 1 7 9 5 .
Incorporated under Lows o f State of Now Torh, 1S&SL
R e o r g a n ize d 1 8 7 9 .
Engravers and Printers of
BONDS, PO STA G E & R EVENUE S TA M P S ,
L E C A L T E N D E R A N D N A T IO N A L B A N K
N O TE S of the U N IT E D S T A T E S ; and to#
Foreign Governments«
*
ENGRAVING AND PRINTING,
Ba n k n o t e s , s h a k e c e r t if ic a t e s , b o n d s
F O B G O V E R N M E N T S A N D C O R P O R A T IO N S ,
D R A F T S , C H E C K S , BELLS O F E X C H A N G E ,
S T A M P S , A c . , I n t h e f in e s t a n d m o s t a r t l s t ie s t y l e
FROM
STEEL PLATES,
filth SPECIAL SAFEGUARDS to PREVENT COUNTERFEITDNb
Special papers manufactured exclusively for
use o f the Company«
S A F E T Y C O LO R S .
A N D COMMERCIAL INTERESTS OP THE UNITED STATES.
S A F E T Y PAPERSo
W o r k E x e c u te d In F ir e p r o o f B u ild in g s .
DIAMONDS.
Alfred H. Smith & C o.,
iIM PO RTER S,
182 Broadway, Cor. John Street.
SOLID SILVER,
G O R H A M M ’t’g C o.,
Broadway and Nineteenth Street,
AND 9 M AIDEN LANE.
Maverick National Bank
BO STO N ,
C A P IT A L ,
SURPLUS,
*
-
M ASS.
$ 4 0 0 ,0 0 0
$ 4 0 0 ,0 0 0
F IR S T -C L A S S IN V E S T M E N T S .
and sell on Commission« for cash or on margin
all securities dealt In at the New York Stock Sx
change.
Interest allowed on dally balances.
All deposits subject to oneck at sight«
Particular attention to orders by mail or telegram
7 2 B road w ay.
* 1 3 N ew S treet.
(Members of the N. Y. Stock Exchange.)
Buy and sell Stocks and Bonds for cash or on marInterest allowed on deposits. Correspondence
solicited*
- , «V , JQHN F. DOUGLAS,
Of the late firm of Lawson, Douglas At Go.
T . , _ „ , WILLARD H. JONES?
Late of W.S.Lawson At Co., Member N. Y.Stock Kxch
H ir a m D e w in g . Cl a r k D e w i n g . F. T . Bo n te co u
(Member o f New York Stock Exchange.)
H. Dewing & Son,
BLANK BOOKS OF EVERY DESCRIPTION
VICE-PRESIDENTS 1
1 6 dc 1 8 B r o a d S tree t, N e w Y o r k ,
1 2 1 S o u th T h ir d S treet, P h ila d e lp h ia .
Connected by Private Wire with main office. New
York.
DEALERS IN
Douglas & Jones,
R A IL W A Y T IC K E T S O F IM P R O V E D S T Y L E S
S h o w C o r d s , L a b e l s , C a le n d a r s .
ALBERT G. GOODALL, President
JgitmuttoX.
Geo. K. Sistare’s Sons,
LITHOGRAPHIC AND TYPE PRINTING.
I. MACDONOUGH,
A. D. SHEPARD,
W. M. SMILLIE,
TOURO ROBERTSON.
THEO. H. FREELAND, Sect’y and Trent
NO. 1,125.
Floyd-Jones & Robison,
B A N K E R S AND B R O K E R S ,
N o , 2 E x c h a n g e C o u rt, N e w Y o r k .
Stocks. Bonds and U. 8. Government Securities
Bought and Sold on Commission.
Wu. C. Flqyd -Jones,
W illiam B obison
Members New York Stock Exchange.
J. A . Kohn & C o.,
R A N K E R S AND R R O K E R S ,
N o , 1 8 W a l l S treet, N e w Y o r k .
Stocks and Bonds Bought and Sold on Commission
Particular attention given to information regard
ing investment securities.
Iowa Loan <fc Trust Co. 6 per cent Debentures
bought and sold.
Chrystie & Janney,
BANKERS,
N o t, 2 3 A 2 5 N a ssa u S t., N e w Y o r k .
Receive deposits and consignments of Bullion.
Deal in Investment Securities and Foreign Exchange and invite correspondence.
Particular attention given to information regarding
Investment Securit y .
*
B A N K E R S AND B R O K E R S ,
Accounts of Banks, Bankers and Corporations ( M i l l s B u i l d i n g ) , 19 B R O A D 8T . , N . Y
solicited.
Members of the New York Stock Exchange.
Execute orders on commission for B on d s, S tock s
Onr faculties for COLLECTIONS are excellent
WAiUTOM
p n ^ a a o . A. BROW*.
and
F o re ig n E xch an ge.
and we re-discount for banks when balances war
D e a le rs in first-cla ss Investm ent S ecu rities,
rant it.
Particular attention given to investments for Cap
Boston is a reserve city, and balances with us from italists,
Trust Funds and Institutions.
banks (not located in other reserve cities) connt as a
reserve.
S. M . R o b e r t s ,
Pa u l Schwarz .
RANKERS,
We draw onr own exchange on London and the
Continent, and make Cablq transfers and place
NO. 2 0 N ASSAU S T R E E T ,
money by telegraph throughout' the United States
and Canada.:
____
NEW YORK.
(M I L L S B U I L D I N G ,)
Government Bonds bought and sold, and exchanges
•n Washington made for banks without extra charge
IK V E S T M E N T S E C U R IT IE S .
We have a market for prime first-class Investment
BANKERS AND BROKERS,
Securities, and invite proposals from States, Coun
We make a specialty of the buying, selling and
ties and Cities, when issuing bonds.
N o . 2 4 P in e S treet, N e w Y o r k .
placing
o
f
first
mortgage
bonds
of
railroads,
water
We do a general banking business, and invite cor
Transact a General Banking Business
works, gas works and other first-class corporations.
respondence.
Stocks and Bonds bought and sold on Commission,
We solicit correspondence.
A S A P . P O T T E R , P re s id e n t.
Orders received in Mining Stocks, and in Unlisted
Securities.
Collections made and loans negotiated.
AOS. W , W O R K , C a sh ie r .
Dividends and Interest collected.
Deposits received subject to Draft.
48 W A L L S T R E E T ,
Interest allowed. Investment securities a specialty
(Bank of New York Building),
We issue a Financial Report weekly.
72 B road w ay,
Bonds and Stocks bought and sold at the New
Jos. C. W alcott,
{Members of the New York
York Stock Exchange.
.
STOCK BRO K ERS«
Fr an k ff. Dickinson , f
Stock
tad «nw '^ond8xand Miscellaneous Securities bohght BONDS AND INVESTMENT SECURITIES FOR
W o w cash or on margin.
SALE
Meub tjv1'a£5wm
J-SidRSliGHTON.
"• N. Y. Stock Hxch.
A. B. Claflin , Sped’!
L. C. la t h r o p . Oscar B. Smith . J, H.Oliph ant .
BANKERS
18 W A L L a n d 3 N ASSAU S T R E E T S ,
STOCK B R O K E R .
NEW W K H ,
BANKERS AND BROKERS,
T ra n sa ct a G en era l B a n k in g B u sin ess.
3 7 B R O A D S T ., N E W Y O R K ,
Ä E W T O R R , 80 BR OA DW A Y & 5 NEW BT
DEALERS IN GOVERNMENT, MUNICIPAL AND
6 P A C IF IC A V E ., C H IC A G O .
RAILROAD SECURITIES.
t r o t , n . y ., no. i ? f ir s t s t r e e t .
Members New York Stock Exchange, New York
DEMAND DEPOSIT ACCOUNTS RECEIVED.
Stock Kxch. membership;[privatewi e; all fnnintles. Ootton Exchange, and Board of Trade, Chicago.
INTEREST ALLOWED ON DAILY BALANO $
Waiston H. Brown & Bros
Roberts & Schwarz,
J. C. Walcott & C o.,
William T . Meredith,
W. P. Wight & Co.,
H . B. Hollins & Co.,
Lathrop, Smith & Oliphant,
Lansdale Boardman,
[V ol . XLIV.
THE CHRONICLE.
U
%KuktxB and gratxrjers of
ifltt gscfrattfl*.
THE
Belmont & C o., I N V E S T M E N T C O .
Drexel, Morgan & C o., August
°
RANKERS,
W ALL STREET, CORNER OP BROAD,
N o , 1 2 P in o S treet,
o f Philadelphia.
ISSUE TRAVELERS’ CREDITS, available In all
NEW YORK.
parts of the World, through
D rexel & Co., ~ l)rexeI,H arje8 & Co M essrs. N .M . R oth sch ild Sc Hons, London.
310
*•
u
de R o th sch ild B r o s., P a ris.
,
M . A . de R oth sch ild Sc Hons, F ra n k «
Cor. of 6th A Chestnut Sts. 81 Boulevard Hausswisnn,
fo r t o\ m .
S . M . de R oth sch ild , Esq., V ienn a.
P A R IS .
P H I L A D E L P H I A __
DOMESTIC AN D FOREIGN BANKERS.
Deposits received subject t o r i f e w e d O T
bought and sold on commission. Interest allowed on
Deposits. Foreign Exchange. Oommerrtrf Credit«.
Cable Transfers.
Circular Letters for Travelers,
available In all parts o f the wo rld .,
ATTORNEYS AND AGENTS ON
M e s s r s . J . S. M O R G A N Sc C O .,
Ho. 22 OLD BROAD STREET, •LONDON.
Brown Brothers & C o.,
P h ila d e lp h ia ,
N ew Y o r k ,
B oston ,
AND
J. & W .Seligm an& Co.
. Kennedy T od & C o.,
T. & T. Stuart & C o.,
83
N ASSAU
STREET.
BILLS OF EXCHANGE ON
S M IT H ,
P A Y N E Sc S M I T H ’ S ,
BANKERS, LONDON
M A N C H E S T E R Sc C O U N T Y R A N K ,
“ LIMITED,”
MANCHESTER, PAYABLE IN LONDON
U L S T E R 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 SCO TLAN D
EDINBURGH AND BRANCHES;
ALSO,
CABLE TRANSFERS AND LETTERS OF CREDIT
J ohn
M unroe
STREET.
**Acts as Financial Agent In the negotiating and
AND THEIR CORRESPONDENTS.
of Securities. Deals In Bonds Corpora
Draw Bills of Exchange on, and make Cable Trans marketing
tion, Railroad, State, Municipal, Ac Executes orders
fer» to. England, France and Germany
on commission In Bonds, Stocks, Ac Collects Interest
and dividends. Receives money on deposit, auowing interest. As desirable Investments oner, will
issue its Debenture Bonds, secured by Its capital and
assets.
_ ------BANKERS
Officers *
WILLIAM BROCKIE, President.
.
No. 23 B R O A D S T R E E T ,
WHARTON BARKER, Vice-P esldent.
N ew Y o r k .
HENRY M. HOYT, JR., Treasurer.__
ET^ELBEHT WATTS, Secretary.
Issue Letters o f Credit fo r Travelers
Board o f Directors—William Brockie, George S.
Pepper, Morton McMicbael, Wharton Barker, Henry
On SELIGMAN BROTHERS, London.
" , Gibson, T. Wistar Brown, William Potter.
8EL1GMAN FRERES & CIE, Paris.
Advisory Committee of Stockholders.—George M.
SELIGMAN A 8TETTHE1MER, Frankfurt.
AL8BERG. GOLDBERG A CO.. Amsterdam. Troutman. Gustavus English, Isaac H. Clothier,
William Pepper, M.D., Thomas Dolan, John G.
ALTMAN A STETTHE1MER Berlin,
Reading, Joseph E. Gillingham, John Wanamaker
Payable In any part of Europe, Asia, Africa, Aus- Henry E. Smith, Charles B. Wright, Henry Lewis.
trail a and America.
,
. _
Cralge Lipplncott,Hamllton Disston, Clayton French,
Draw Bills of Exchange and make Telegraphic Francis Rawle.
Transfers of Money on Europe and California
ALEXANDER BARING.
K ennedy T od .
Member N. Y. Stock Exch’ge
O. N oh th co te .
A L E X A N D E R B R O W N * SONS
BALTIMORE.
Members of New York, Philadelphia and Baltimore
Stock Exchanges.
_ „
Execute orders for all investment securities. Buy
and sell Bills o f Exchange on Great Britain and
Ireland, Prance. Germany, Belgium, Holland,
Switzerland, Norway, Denmark, Sweden,
Australia, St. Thomas, St. Croix and
British West Indies.
NO. 63 W ILLIAM STREET,
I „ u ( C o m m e r c ia l Sc T ra veler«» C redits
BAN KERS.
IN STERLING,
Act as Agents for Banks, Bankers and Railroad
Available In any part of the N<*ld, In
u.e In Martinique and Guadaloupe, and In dollar, for
Issue commercial oredlts, also foreign and domestic
use in this country, Canada, Mexico and W est Indies. travelers’ letters of credit in pounds sterling A dollars.
Make telegraphic transfers of money between this
O ffer I n v e s t m e n t S e c u r it ie s .
country, Europe and British and Danli-h West In
dies. l&ake collections of drafts drawn abroad on all
Buy and sell bonds, stocks an d securities in all Am
points in the United States and Canada, and of erican, Canadian, British and Dutch markets on com
Srafts drawn in the United States on foreign coun- mission. Collect dividends, coupons and foreign and
.
^Thelr London house, Messrs, BROWN, SHIPLEY Inland Drafts.Sell Bills of. _Exchange
on
A CO., receive accounts o f American banks, firms
and Individuals upon favorable teams.___________
J
CHESTNUT
C ap ita l, 9 2 ,0 0 0 ,0 0 0
F a ll paid.
Buys and sells Bills of Exchange, drawing on
Baring Bros. A Co., London, also on Paris and
& C o.,
N o . 8 2 N a ssa u S treet, N e w Y o iM .
N o . 4 P o s t Office S q u a re , B o s t o n .
lain« Circular Letters o f Credit for Travelers’ Use
Abroad against Cash or Satisfactory
Guaranty o f Re-payment,
E x c h a n g e o n L o n d o n , P a r is , B e r lin
a n d Z u r ic k .
Cb e d it s Op e n e d a n d p a y m e n t s M a d e b y Ca b l e
P a r is H o u s e —IttU N R O E Sc CO.
Schulz & Ruckgaber,
BANKERS
29 W IL L IA M ST R E E T , N E W Y O R K
CORRESPONDENTS OP THE
]leidelbach,
Ickelheimer & Co.,
29 W IL L IA M
Cor. E xohasge Place,
FOREIGN
STREET,
NEW YORK.
BAN K ERS.
BUY AND DRAW BILLS OF EXCHANGE,
MAKE CABLE TRANSFERS, ISSUE TRAVELBBS’ CREDITS.
ISSUE COMMERCIAL CREDITS, AVAILABLE
IN ALL PABT8 OF THE WORLD, ON
Messrs. C. J. Hambro Jk Son. London.
lySA0* '!
H a w f f l / m f f g f J g 8 * c o -’ i PAKIg-
John Paton & C o.,
J
SUCCESSORS TO
JESIJP, P A T O N A CO.,
Kanawha & Ohio Railroad First 6s.
Kanawha A Ohio
5 2 W i l l i a m S treet, N e w Y o r k .
Accounts and Agency of Bulks, Corporations
firms and Individuals received upon favorable terms
Dividends and interest collected and remitted.
Act as agents for corporations in paying coupons
and dividends; also as transfer agents.
Bonds, stocks and securities bought and sold on
commission, at the Stock Exchange or elsewhere.
Sterling Exchange and Cable Transfers bought and
sold.
Common
& Pro*
ferred Stocks.
Continental Construction Stock.
Pensacola & Atlantic Railroad Stock.
BOUGHT AND SOLD B Y
DRAW ON
THE UNION BANK OF LONDON
BRITISH LINEN CO. BANK, LONDON AND
SCOTLAND.______________
T O B E T
A
K I R K ,
4 AND 6 BR O A D
STREET,
NEW YORK.
Co p p e l l .
T h o s . M a it l a n d .
G e r a l d L. H o y t , Member N. Y. Stock Jfixch.
Maitland, Phelps & C o., Geo. H. Prentiss & C o.,
B A N K E R S
AND
COMMISSION
22
Sc 2 4
N o . 4 9 W A L L S T ., N E W Y O R K ,
AND
MERCHANTS
R x c h a n g e P la c e ,
Ne w Y o r k .
BILLS OF EXCHANGE, LETTER8 OF CREDIT
TELEGRAPHIC TRANSFERS OF MONEY ON
LONDON, PARIS, MEXICO. CUBA. Ac., &c.
Kidder, Peabody & Co.
2 0 8 M O N T A G U E S T ., B R O O K L Y N .
GAS
STO CKS
AND
GAS
S E C U R IT IE S ,
Street Railroad Stocks and Bonds
I n t e r n a t io n a l B a n k o f L o n d o n
( L im it e d ), L o n d o n .
M e ssr s. J o h n B e r e n b e r g , G o ssle r Sc Co,
H am bu rg.
M e ssr s. M a r c u a r d , K r a n s s Sc G o ., P a r is
Commercial and Travelers’ Credits.
Bills of Exchange.
Cable Transfers
1 Nassau Street, New York,
113 Devonshire Street, Boston,
Unger, Smithers & Co.
Messrs. BARING BROS. & CO., London GEO. H. PR*N«SS. W. t>. PRkNTlte. W. W. WALBfl
BAN K ER S AND B R O K E R S,
Members of the New York Stock Exchange^
d e a l e r s i n F o r e ig n e x c h a n g e . G o v e r n m e n t
a n d o t h e r In v e s t m e n t B o n d s .
FOREIGN BANKERS,
attorn eys an d agents op
BROOKLYN
S E C U R IT IE S
DEALT
IN .
SHE GAS QUOTATIONS IN THIS PAPER.
Member N.Y.Stock Exch.
C O M M E R C IA L
C R E D IT S ,
C ir c u la r C red its fo r T r a v e le r s .
STERLING LOANS A SPECIALTY.
Gable T ransfers and b il l s o f e x c h a n g e on
4 4 W a l l S t. a n d 6 2 G reen e S t. N . Y
G r e a t B ritain and th e Continent.
Buv and sell on commission, for investment or ol.
margin, all securities dealt In at the New York Stock
xchange.
:cni
KOUNTZE BR O TH ER S,
bankers,
C a n a d ia n B a n k o f C om m erce 1 2 0 B b o a d w a y , Equitable Building, New York
CAPITAL, *6,000,000.
SURPLUS, *1,600,000.
L E T T E R S OF C R E D IT AND
J. H. G0ADBY & ALEX. LA1RD,
C IR C U L A R NO TES
Issued
for the use of travelers in all parts of the
AGENTS^
world. BUIS drawn on the Union Bank of London.
1 « E X C H A N G E P L A G E , N E W Y O R K Telegraphic transfers made to London and to various
HUY
AND
CABLE places in the United 8tates. Deposits received sub
BUY A
« n fl«LL
DJ“ ^ , gSTERLING
AN8FKB8,RECHANGE,
KTC.
ject to check at sight, and Interest allowed on bal
ance*. Government ana other bonds and Investment
USES COMMERCIAL CREDITS. AVAIT,ABLE securities bought and sold on commission.
u BAH ^ ° TT pAJRTS QV THE WORLD.
and atj. k i n d s of
First Mortgage 6 P er Cent Gold Bonds
(8 1 2 ,0 0 0 P E R M IL E ),
JACKSONVILLE TAMPA & KEY WEST
RAILW AY COMPANY.
Issue limited to *1,556,000.
Principal due MW-
¡SSLiR ifa S» Tfflusr3 »P L i
New York to Tampa, Florida, over whichtheCtaban
mail is now carried. We recommend these twndsas
secured by a large and rapidly increasing throng“
and local business. Price, par and accrueTlntereat.
Pamphlets and copies of mortgage furnished.
B . A . L A N C A S T E R Sc CO .
1 9 W a l l Sure«*.
m
THE CHRONICLE,
J an u a r y 15, 1887,]
%mxktvs and '§xoUzv& in lÿjetxr ‘Horb, <£ttiT.
F. E. Trowbridge,
Taintor & Holt,
BANKER AND BROKER,
BANKERS,
N o s. 3 & 5 B r o a d |or 2 9 W a l l S treets.
F.C.H o l l in s . B .H . E m e r s o n ,
L H .W a o o o n s r
Frank C. Hollins & C o.,
N o . 11 W a l l S t., C o r. N e w , N e w Y o r k .
BANKERS AND
BROKERS,
Members N. Y . Stock Bxohange.
(B r a n c h O f fic e , 290 B r o a d w a y .)
TRANSACT a GENERAL BANKING business.
DEPOSITS received and INTEREST allowed on
11 W A L L S T R E E T , N E W Y O R K ,
Member of the New York Stock Exchange. Dt
balances.
rector o f Merchants’ Exchange National Bank,
AND
Buy
and
seU
GOVERNMENT,
MUNICIPAL
and
American Savings Bank, American Safe Deposit
2 4 6 C L A R K S T R E E T , C H IC A G O , I L L .
RAILROAD Securities.
Company. Ac., Ac.
Private telegraph wires to Providence and Boston.
Securities bought and sold on commission, for
GEO. H. HOLT,
cash or on margin. AU inquiries gratuitously res* G. E. TAINTOR.
____
G. D. L’HUILIER.
ponded to. Correspondence solicited.
1 6 A 1 8 B R O A D S T .,
JAMES W H IT E!,!-,
H . CKUQIR OAKLEY,
HROKBR IN ALL KINDS OP INVESTMENT
M a y n a r d C. e y r s .
H e n r y h . D o d o s , Washington, D . 0 .
BONDS, MISCELLANEOUS SECURITIES
W m . B , T r a v e r s , Special Partner.
AND DEFAULTED BONDS
BANKERS AND BROKERS,
_______ CORRESPONDENCE SOLICITED,
N o . 6 4 B R O A D W A Y , N E W Y O R K , M ill* B u ild in g , 3 5 W a l l S t., N e w Y o r k J a m e s T . Cl o s s o n .
J o h n B. D u m o n t
Albert Pearce,
Gorham, Turner & Co.,
Prince & Whitely,
B r a n c h Onrcnsn j 180 Fifth A ve., New York.
BRANCH OFFICES J 53g 1Bth
Washington, D . C
Buy and sell on commission all classes o f Railroad
Securities; also Grain and Provisions.
Private Telegraph wires to Philadelphia, Wilming
ton, Baltimore, Washington, Bridgeport, New Haver
Boston and Pittsburg.
E. L. Oppenheim & C o.,
[ESTABLISHED 1802],
BANKERS AND BROKERS,
61 & 58 New Street and 42 Broadway.
B r a n c h Of fic e , 91 L e o n a r d St r e e t .
Edward L. Oppenheim.
Walter Del. Mar
W m . V . Ca r o l in ,
Ch a r l e s f . co x
Member N. Y. Stook Exchange.
Carolin & Cox,
bankers and brokers,
17 N A S S A U S T R E E T , N E W
YORK
Malcolm Campbell , Member o f N. \ . Stook Bxoh,
Fred. H . Smith,
BANKER & BROKER,
N o . 2 0 B R O A D S T ., N E W Y O R K .
.. Tw?nt7 years’ experience In Railroad Bonds. Pai ■
tiea desiring to buy or sell Uncnrrent Bondi wi*
please communicate.
Stocks bought in Fractional Lota or otherwise
either for Cash or on Margin.
F.H. Smith ,»M embers Consolidated Stook and
o. W. Sm it h , ( Petroleum TOxchanore, New York,
Ch a s . J. T o w n s e n d ,
BANKERS AND BROKERS,
1? Years’ Membership New York Stock Exchange.
Members Philadelphia Stock Exchange.
Noa. 1 6 & 1 8 B r o a d S treet, N e w Y o r k .
Buy and sell on commission, for Investment or on
margin, all securities dealt in at the N. Y. Stock Exch,
Ro b e r t J. K i m b a l l .
A l f r e d B. L o u n s b e r y
W. H. D i c k in s o n ,
Ed w ar d
Member N. Y. Stock Exchange.
p
. A l l in g
______________ Correspondence Solicited.
Simon Borg & C o.,
N ASSAU
S T .,
NEW
YORK
DEALERS IN ALL KINDS OF
BANKERS
AND
BROK ER S
N o . 3 0 P in e Street, N e w Y o r k .
“ y Ahd seU at N. Y. Stock Exchange, for IN
VESTMENT or on MARGIN, all classes ¿ f Stooks
and Bonds, and allow interest on deposits, subject to
oheck at sight.
Railroad and Investment Securities!
C. J. Turner,
BROKER
Southern Securities a Sp e c ia lt y .
A . Dutenhofer,
AND
Dealer in Miscellaneous Securities,
MILLS BUILDING (8d Floor,)
16 A 18 BROAD ST., NEW Y O R K .
Booms 25 A 26.
35 W A L L STREET.
STATE AND CITY BONDS OF GEORGIA, ALSO
Transacts a general Banking business, inolndlng the
purchase and sale of stooks and bonds for cash or on SECURITIES OF THE CENTRAL RR. A BANK.
margin.
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.
John H. Davis & Co.
BANKERS AND BROKERS,
N o . 1 0 W A L L 8T . , N E W Y O R K .
Orders for Stocks and Bonds executed at all
Exchanges.
Especial attention given to supplying high-class
IN V E S T M E N T S E C U R IT IE S .
Gilman, Son & C o.,
BANKERS,
N o.
B A N K E R S ,
N o.
1 8 W A L«L S T R E E T ] ,
N ew Y o r k .
Transact a General Banking Business, Inolndlng
the purchase and sale of STOCKS and BONDS for
cash or on margin.
B a p a n d Sell In v estm en t Securities.
A . M . K id d b k . W a y l a n d T r a s k . H . J. M orse
W. C. H i l l ,
Wood, Huestis & Co., J B o o d t i .
31 PIN E STREET, NEW YORK,
B A N K E R S AND
BROKERS,
M c U e ffa ii
SUCCESSORS TO
W O O D Ac D A V IS .
& C o*,
111 ^ securities listed at the New
fork Stock Exchange. For Sale:
CEDAR
STREBT.
H . L. Grant,
N o.
Co.
62
In addition to a General Banking Business, Bny
and Sell Government Bonds and Investment Sécuri
tés.
c A ^ c J llb .^ C i X w .
L a n s i n g C. W a s h b u r n .
BANKERS AND BROKERS,
N o . 6 W a l l S treet, N e w Y o r k .
Stocksand Bonds Bought and Sold on Commission
for cash or on margin.
Special attention given to Unlisted Securities.
Deposits received subject to Check at Sight.
BANKERS AND BROKERS.
N o . 4 0 W a l l S treet, N e w Y o r k .
All stocks and securities dealt in at the New York
Stock Bxohange bought and sold on commission, for
cash or on margin. Deposits received and Interest
allowed on balances.
No. 17
Dickinson & Ailing,
Member N.Y. Stock Exchange.
« « m um .
Jn o . P . T o w n s e n d , Special Partner.
Townsend & Washburn,
Closson & Dumont,
R. J. Kimball & Co.,
B a n k e rsIA C o m m is s io n S to c k B r o k e n
NO. 56 BROADWAY,
Branch Office, 315 Madison A v , cor. 42d St., New York
Deposits received subject to check at sight, and
Interest allowed on daily balances. All Stocks and
Securities dealt In at the New York Stock Exchange (16 Years’ Membership in the N.Y. Stook Exchange)
bought and sold on Commission, for Cash or upon
Margin.
B A N K E R AND B R O K E R ,
Alexander Campbell & Co.
H e m a n Cl a r k , Special Partner.
A ustin G. Gorh am .
Ch as . w . T urner ,
Ch as . 0 . Noble .
Member N. Y . Stook E xch
145 B R O A D W A Y ,
NEW YORK.
CITY BAILBOAD STOCKS & BONDS
BOUGHT AND SOLD,
See Quotations of City Railroads in this paper.
Jo h n H o w a r d L a t h a m ,
F r e d e r ic k W . P f r r y
Member of N. Y. Stock Exchange.
J. H . Latham & C o.,
UNITED BANK BUILDING,
V o. 2 W A L L S T R E E T , N E W Y O R K .
City, County, State, Railroad,District of Columbia
oonds and Foreign Exchange, and all Securities
listed in N. Y. Stock Exchange.
J. L. Robertson,
B O N D AM R S T O C K B R O K E R ,
Dealer in Investment Securities,
B A N K E R S ,
*'IK8TM o r t g a g e B o n d s .
No. 7 NASSAU STREET,
GEORGE 0. WOOD. C. H. HUESTIS. L.M . 8WAN. 5 S B r o a d w a y , c o r . E xch an ge P la c e , N. Y .
B ran ch Office, 2 4 1 L a S a lle S t., C hicago,
(Continental National Bank Building,
TRANSACT A GENERAL BANKING BUSINESS,
INCLUMNG THE PURCHASE AND SALB OE*
New Y o r k .
8TOCK8 AND BONDS FOR CASH OR ON MAR
BANKERS AND BROKERS,
*
BUY AND 8ELL INVESTMENT SECURI
N °. 35 P A N E S T R E E T , N E W Y O R K . GIN.
TIES. INTEREST ALLOWED ON DEPOSITS
(Members New York Stock Exchange.)
SUBJECT TO CHECK AT SIGHT.
of Banks, Bankers,and others received,
N o. 20 BROAD STREET, NEW YORK,
_ .
P. O. Box 447.
allowed on balances. A strictly Commission
D. A. BOODT.
C. W. McL ellan .
STO CKS, BONDS
nusiness in the purchase and sale o f stocks and bonds,
_______________ R e u b e n L e l a n d .
rrivate Telegraph Wire to Albany,Troy, Syracuse!
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
uflalo, Cleveland and Chicago.
Correspondence solicited.
Bank of London in amounts to suit.
^P«ciai attention given to Securities for Investment.
Quotations cheerfully furnished.
Hamilton & Bishop,
Rolston & Bass,
W. H. Goadby & C o.,
BANKERS AND BROKERS,
NiiO. 2 4 B R O A D
« ¡T R E E T .
New Y o r k .
<5 fj00S a U d x id .d
BANKERS,
U I I T E D
B A N K B U IL D IN G ,
W a l l S tree t, c o rn e r B r o a d w a y .
STOOKS, BONDS A COMMERCIAL P A P E R .
Stocks and Bonds bought and sold on commission
at Mew York Stock Exchange. Advances made on
business paper and other securities.
W m . H . R olston,
Member N. Y. Stock Exch ge.
w
. A l e x . B a s s , Jr.
tow ard Lapsley & C o.,
BANKERS AND BROKERS,
74 B R O A D W A Y a n d 9 N E W S T R E E T ,
N o w .Y o r k .
•
_
THE CHRONICLE.
IT
©»tradiate and cgovzi&u Saaks and JÇaniuers.
Bank o f Montreal.
$ 1 2 ,0 0 0 ,0 0 0 G o ld .
- $ 6 ,0 0 0 ,0 0 0 G o ld .
a F . BMITHEB8, President.
W. J. BUCHANAN, General Manager.
N EW
N os.
YORK
SO Sc 6 1
O FFICE:
W ALL
STREET,
W alter W atson, 1
A l e x ’k L a n g ,
5 A* e" “ .
E.
Blake, Boissevain & C o.,
Bar and Sell Sterling Exchange, Francs and Cable
Transfer grant Commercial and Travelers’ Credits
LONDON, EN G LAN D .
available In any part o f the World i Issue drafts on,
and make Collections In, Chicago and throughout the N eg o tia te Railway, State a-’d City loans.
E x ecu te orders for Bonds, Shares, etc., on Com
Dominion o f Canada.
mission, and transact a general Banking and
Commission Business.
L o n d o n Office, N o . 2 2 A b c h u r c h L a n e .
S p ecia l a tten tion given to the execution of
orders for Securities on the New York, Lon
don and Amsterdam Exchanges in correspond
enoe with
C A P I T A L (p a id n p ), - - $ 1 ,6 0 0 ,0 0 0
B
L
A
K E B R O T H E R S & CO.,
SURPLU S, - - - - - - $ 5 0 0 ,0 0 0
H. S. HOWLAND, Pres’t. D. B. WILKIE, Cashier.
1 $ W a l l S tree t, N e w Y o r k ,
H E A D O F F IC E , T O R O N TO .
2 8 S tate S treet, B o s t o n , M a s t ,
BRANCHES IN ONTARIO.
Essex Centre.
Niagara Falls. Toronto
AND
Port Colborne. Toronto, Tonge St.
Fergus.
St. Catharines. Welland.
Galt.
St. Thomas.
Woodstock.
A D O L P H B O IS S E V A IN Sc CO.
IngersoU.
S. Bai ley ,
5>s P I N E S T R E E T .
Hong Kong & Shanghai
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.............................................. 4.500,000
Reserve for Equalization o f Dividends....
500,000
Reserve Liability of Proprietors............... 7,500,000
The Corporation grant Drafts, issue Letters of
Credit for use of Travelers, and negotiate or collect
Buis ratable at Bombay, Calcutta, Singapore,
Sal non, Manil'i, Hong Kong, Foochow, Amoy,
Nfi.fr''* Shanghai, Hankow, Yokohama, Hiogo, San
Frtacisoo anc London.
A - 11. TOWNHKKD« A gen t. 4T W illia m S i,
DEALINGS IN
I N S U R A N C E
BRANCHES IN NORTHWEST.
A m s te r d a m . H o ll a n d .
C olum bus H o ck in g V a lley & T o le d o .
T o le d o & O h io C en tra l.
K a n a w h a Sc O h io.
E ast T enn essee Y a . Sc G e o r g ia ,
A m erica n S p eak in g T eleph on e,
S ou th ern T elegrap h .!
B o u g h t a n d Sol d b y
J. S. Stanton,
1 6 a n d 18 B R O A D
ALL OF TUB
N ew Y o rk
AND
B r o o k ly n Companies’
BOUGHT AND SOLD BY
W M . C. NOYES,
96 B roadw ay.
See my quotations of Trust and Telegraph Stooks
n Daily Indicator and Saturday’s Evening Pott.
D E G H U E E ’S
TABLES
M e r c h a n t s ’ Bank
S o licit accounts and agencies of Banks, Railways
Corporations, Firms and Individuals upon
favorable terms; also orders for the pur*
chase and sale of Bonds, Shares, Sus., Sus. on
Capital, • • • $5,799,200 Paid Up.
the Stock Exchange.
R e s e r v e ,............................ $1,500,000 In terest allowed on Deposits, subject to 60-days
President, ANDREW ALLAN, Bzq.
_
sight drafts, at Bank of England rate, and
Vice-President, ROBERT ANDERSON, Esq.
one-percent below that rate subject to
H E A D O F F IC E , M O N T R E A L .
demand drafts.
GEORGE HAGUE, General Manager.
N egotiate Railway, State and City Loans,
W. N. ANDERSON, Assistant Gen’l Manager.
BANKERS:
LONDON, ENG.—The Clydesdale Bank (Limited.)
MEW YORK—The Bank of New York, N. B. A.
THE
The New York Agency buys and sells Sterling Ex
change, Cable Transfers, Issues credits available In
all parts o f 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 o f foreign banking business undertaken.
(LIMITED).
N e w Y o r k A g e n c y , N o . 6 1 W a l l Street.
HENRY HAGUE,
Î Agents
NO. 4 B A N K
B U IL D IN G S
JOHN B. HARRIS. JR.. JA**nw*
Railway Share Trust Co.
LONDON, ENGLAND.
B
a
OF
n
THE
k
B r it is h N
orth
A
m e r ic a ,
No. 52 W A L L S T R E E T .
Buy and sell Sterling Exchaime and Cable Trans
fers. Issue demand drafts on Sootland and Ireland,
also on Canada. British Columbia and San Francisco,
C IR C U L A R NOTES Issued in Pounds Sterling
available In all parts of the world. COMMER
C IA L CREDITS ISSU ED for use in Europe,
China, Japan, East and West Indies and the Brasils,
River Plate,Sus.
t
Bills collected and other hanking business trans*®t* L
R o o m D , M ills B u il d in g .
D. A. MoTAYISH, 1 •
H. STIKEMAN. ) Agenis.
F O R E IG N .
THE
Anglo-Californian Bank
(LIMITED).
L O N D O N , Head Office, 3 Angel Court.
MAN F R A N C IS C O Offloe, 422 Califorala St.
N E W Y O R K Agents, J. A W. Sellgman A Co.
R O S T O N Correspond’ts, Massachusetts N. Bk.
Specialists in R a ilr o a d B o n d s.
Buttrick & Elliman, .
18
W ALL
STREET,
NEW
YORK.
CORRESPONDENCE INVITED
Simons & Chew,
STOCK B R O K E R S ,
2 E xch an ge C ou rt Sc 5 2 B r o a d w a y , N. Ya
Stocks, Bonds and United States Oovernmeit
Securities Bought and Sold on Commission.
JAS. D. OIMONS,
BEVEBLY CHEW.
Member N. Y. Stock Exchange.
Member N. Y. Produce Exchange.
Cahoone & Wescott,
This Company undertakes the business of Trustee
1 8 W a l l S treet, N e w Y o r k ,
Execute Orders In all Securities Listed on
NEW Y O R K STOCK EXCHANGE.
Special Attention given to
to Loans o f approved Railways, negotiates and
Government & other Investment Bonds
C a p ita l P a id U p , £ 9 7 1 , 3 6 0
or
VALUES,
GEO. W . D O U G H ER TY,
CANADA.
AGENCY
OF BOND
PUBLISHED AND FOB SALE BYj
LONDON.
OF
STREET.
Trust Co.’s Stocks.
Heinemann & C o.,
62 Gresham House, £. C.,
STO CK S
A S P E C IA L T Y .
Cash paid at once for the above securities; or they
will be sold on commission at seller's option.
Imperial Bank o f Canada
Brandon.
Calgary.
Winnipeg,
ondon:
1 Agents In New York :
Agents In London
;t’s A Bos- iB a n k o r M o n t r e a l ,
Lloyd's, Barnett'
limited,
s n q u o i » Bank
d w ij a:,
, iiiu
iw iu , I
1 J
,,
.,
.
anquet’s
Promptest attention paid to oollections payable In
any part o f Canada.
■
. _ .
Approved Canadian business paper discounted at
the Dead Office on reasonable terms, and proceeds
remli ted by draft on New York.
Dealers In American Cur’y and Sterling Exchange.
XL1V.
jspxcial %uvzstmzuts.
F O R E IG N .
C A N A D IA N .
C A P IT A L , - - SURPLU S, - - -
[V O L .
Sterling.
Correspondence Solicited
Issues Loans on the London Market, acts as Agent for
Railways and other Corporations, either In the mat
The Investors’ Agency,
ter o f payments o f Interest on Loans, Dividends on
or Registration of Stocks In London, or otherwise.
Cable Address—P ATT, London .
Bank of Australasia,
(Incorporated by Royal Charter, 1835.)
4 T hn.ia
r e a.d..n e e d le S t.,' L
ondon
E n gin
la n d
Vi, A/nv(K
Paid-up
Capital, - - - . - - _- £1,6COV
,OUO
Reserve Fund, - - - - - - - £790,000
Letters of Credit and Drafts issued on any of 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
eriods, or for transfer to the colonies on terms
vhlch may be ascertained on application.
PRIDKAUX SELBY. Secretary.
2 3 4 L a S alle S t., C h ic a g o , 111.,
M. L. SCUDDER, Jr., Proprietor,)
ANSWERS INQUIRIES CONCERNING
A m erican Stocks a n d Securities
Large Library of Railroad Documents.
Competent Experts.
Confidential Reports.
Moderate Chargee
Henry S. Ives & C o,,
BANKERS,
No.
25
NASSAU
S T ., N E W
YORK,
P. 0. BOX 1,422.
Transact a general banking business, including the
purchase and sale of securities listed at the New
York Stock Exchange, or In the open market.
1 Receive deposits subject to check at sight and
STOCK B R O K E R S ,
allow Interest on dally balances.
Transact a general banking business. Issue Com.
meroial credits and Bills o f Exchange, available In all 6 4 B r o a d w a y Sc 1 9 N e w S t ,, N e w Y o rk
Government, State, County, City and Railroad
parts o f the world. Collections and orders for Bonds,
bonds constantly on hand for sale or exchange, and
stocks, etc- executed upon the most favorable terms,
owv~ ,
F LOW,
l M a n ««».
G a s, In su ran ce, B a n k s, C ity R a ilr o a d s , particular attention given to the subject of Invest*
IGNATZ 8TEINHABT.) •
M» n**erS»
dec. Send for list published Mondays.
meat, for institutions and trust funds.;
IP. N. LdUENTIiALJCashlsar
J . P . W 1N T K IN G H AM , 3 6 Pine St. N.
A u th o r iz e d C a p it a l, - - - $ 6 .0 0 0 ,0 0 0
P a id -u p C a p ita l, - - - - 1 ,5 0 0 ,0 0 0
R eserve F u n d , - - - - - 4 0 0 .0 0 0
St e w a r t B r o w n ’ s
S ons
J anu ary 15, 1887.]
THE CHRONICLE,
Interest/ ginixtencts, See
C
P A C IF IC
R A IL W A Y
COM PANY.
DIVIDEND NOTICE.
The half-yearly dividend upon the capital stock ox
this company, at the rate of THREE (8) PER
CENT, per annum, secured under agreement with
the Government of th« Dominion of Canada, will ’
paid on the l>th of February next to stockholders
record on that date.
Warran's for this dividend payable at the agency
of the Bank of Montreal, 59 wall Street, New i^rfc,
will be delivered on and after Feb. 17, at the office
£?vmP*n,£ 8 agents, Messrs. J. KENNEDY
TOD & CO., 63 Will am Street. New York, to stock-“
holders who are registered on the Montreal or New
York Register.
Warrants of European shareholders who are on
the London Register will bw payable in sterling, at
i? e i?-2 \ f' Ur shillings and one penny half-penny
(4s. l^d.) per dollar, less income tax. and will be de
livered on or about tne same date at the office of the
company, 88 Cannon Street,London, England.
The transfer books ot the company will be closed
in London at 3 o’clock P. M. on Monday, Jan. 10, and
in Montreal and New York at the sume hour on SatFriday,JFeb. 18,1*887 wiU be reopened at 10 A - M- on
’
CHARLES DRINK WATER. Secretary.
^ fin a n c ia l.
S iw a tic ia l.
TO BONDHOLDERS
Lake Erie& Western R*y Co.
A N A D IA N
Office of t h e Sech
TH
E
a
y , Mo n tr e a l,
L A K K iSHORE
&
Dec. 29.1886.
M IC H IG A N
r a i l w a y co .
southern
T r e a s u r e r ’ s Office ,
G r a n d Ce n t r a l De po t ,
m m s n i o n n i , New York , Dec. 80, 1886. j
THE BOARD OF DIRECTORS o f this company
have this day declared a dividend of TWO Per Cent
upon Its capital stock, payable at this office on Tuesthe h19 TERNTH DAY OF FEBRUARY next
1hei tran.-fer books will be closed at 3 o’clock P. M.
on Saturday, the 15th day of January next, and wili
be reopened on t he morning o f Friday, the 18th day
of February next, K. D. V\Q RCBaTER, Treasurer
T H E M IC H IG A N C E N T R A L R A I L x
ROAD COMPANY,
T r e a s u r e r ’ s Office ,
G r a n d Ce n t r a l D epot ,
. T.„
NEW YORK, Dec. 80, 1886. )
THE BOARD OF DIRECTOR:^ o f this company
have this day declared a dividend of TWO per cent
Jts c^P.',taJ 8t°ck, payable on TUESDAY, the
day o t February next at this office.
a.*SSAtf an?iier, K
tiu0i 8 wlu be closed at 8 P. M. on
Saturday, the loth January, and will be reouened on
the morning o f Friday, the 18th day of February next
_____________
HENRY PRATT, Treasurer.
OF THE
Mexican National R'y Co
A
The undersigned have accepted the appointment
as members of the Purchasing Committee under the
Matheson-Palmer Reorganization Agreement of
Oct. 15, 1886, and bonds can be deposited to their
order as stated in the foregoing notice.
Dated Dec. 6,1886.
*
GEORGE S. COE,
EXSTEIN NORTON,
JOSEPH D. POTTS.
TO BONDHOLDERS
OF THE
„ T r e a s u r e r ’ s Office ,
G r a n d Ce n t r a l De p o t ,
New Y o r k , Dec. 80,1886.
mTr_ „ _ . _ _
i
THE BOARD OF DIRECTORS of this company
A tt8a
£e<l!are£ a dividend of ONE AND
Ccnt. upon its capital stock,
next bat
^’ tbe ulteenth day of February
Q The transter books will be closed at 8 P. M. on
Saturday, the 18th January, and will be reopened on
the morning ot Friday, the 18th day of February next.
HENRY PRATT, Acting Treasurer.
h kv
T ONG IS L A N D R A I L R O A D COM P» Y .
_
,
DIVIDEND NO. 35.
i f ™ D i r e c t o r s have declared a quarFER CENT upon the capital
pu?ub e Feb. 1, 1887. Transfer books close
i w oid TISPe n Feb.8.
HENRY GRAVES.
uec, oi, löbO.
Treasurer.
T H E N A T IO N A L B A N K OP T H E
} KEPUBi-XC. New Yo r k , j a“ n 7 1887^-Ata
rceetmgptthe stockholders of this bank, held this
ion h em tl* nt! gentlemen were elected Directors
Um v Br’
{ r i ’v G
E
O
R
W ALLA C E C. ANDREW S,
G E
E. SIMPSON,
J °H N JA Y KNOX,
i r i V,LR S. CARTER, CHAS. R. FLINT
JAS. B. JOHNöTON, JAMES J. HILL
,,
,
D. H. McALPIN.
nrVt ia^?.’i.bs?<luePtnjeetingof the Board of DirectJay Nnox was unanimously re-elected
President.
E. H. PULLEN, Cashier.
N
*
p e r k y
coal
&
Jan. iof1887.C 0” 15 8 t a t e St r e e t , Ne w Y o r k ,
daVifppinrnrt a L {>frect,°r!L0L this Company have this
inf a p
dividend of ONE AND ONE>LAlt 1 EE, (lj^i 1 ER CENT udou its Ca nitttl St not
onn0i
e^rnir,gs of this Company for the quarter
the 25th in^tI>e'r mbei ’ 18?0, Payable at this office on
5th
b09gs to be closed on the
lb87. st’ and .opened again on the 27th January,
__________
F. P. PERKINS, Treasurer.
T H E S T . P A U L M IN N E A P O L I S A
V n ^ w 1T0BA RAILWAY COMPANY,
Thp , 63 W illiam St ., New York . Jan. 14 1887.
Ha t i p S
dividend of ONE AND ONEDanv hi!18»!® E,V ?n t^e caPltal stock of this comPay.ai ,i« aC thL8 office on
and aite? Fob“ i
that date * e^’ **
stockholders of record on
MlhJanra9n8faeL b»m 1 Wil1 be closed at 3 o’clock P.
il ’ hah'o ’ and wil1 he 'e-opened at. 10 o ’clock A.
heb.2.
EDWARD T. NICHOLS,
_________
Assistant Secretary.
Of f i c e o f t h e P h i l a d e l p h i a
COMPANY, 983 Penn Avenue, Pittsburg, Pa.
Jan. 12,1887.
FIFTEENTH DIVIDEND,
he Board of Directors of this Company have this
t,ay de°lared a dividend o f ONE PER CENT out of
e earnings for last month, payable on the 20th
to ti. Tlransfer hooks will be closed from the 15th
® 20th lnat-> both inclusive. Checks will be
*Wed to stockholders.
JOHN CALDWELL, Treasurer.
Mexican National R'y Oo.
The agreement for the reorganization of the Mex
ican National Railway Company, executed between
Messrs. Matheson & Co., of London, und General
William J. Palmer, of New York, dated Oct. 15,1886,
having beeen adopted by this committee, bondhold
ers are now notified that they should deposit their
bonds with as little delay as possible In the Union
Trust Company, subject to the order of the Purchas
ing Committee—George S. Coe, Eckstein Norton,
and Joseph D. Potts.
As the execution of this plan involves many mat
ters wherein assenting bondholders have powers
and rights other than those which are held or exer
cised by the Purchasing Committee, this committee,
at the request o f a large number of bondholders,
continues its organization and will represent bond
holders collectively, in der to protect such powers
and rights and aid the xecutlon of the plan.
Bondholders, therefore who desire to be so repre
sented are requested to sign a proxy or power to
that effect to this committee
Bondholders represented by this committee will
be notified at the proper time of their pro rata rights
of subscription to the new securities and of any
other privileges.
Copies o f this power and any further Information
desired can be had by applying to the Secretary of
the committee, W. W. NEVIN, 32 Nassau Street,
New York.
SPENCER TRASK,
SELAH CHAMBERLAIN,
JOHN DE RUYTER, HENRY AMY,
GEORGE BURNHAM, CHARLES J. CANDA,
SAMUEL B. PARSONS, WM. E. D. STOKES
AUGUST RUTTEN,
Committee.
(L'onuncvctitl Cards.
Indiana Bloom ington & Western
FIRSTS, SECONDS AND EASTERN DIVISION
BONDS,
Pending the action of the New York Strck Ex
change on the application to list the Trust Com
pany s certificates, and for the accommodat on of
security holders, the time for depositing tne nbovo
named securities with the Central Trust Company
Is hereby extended until Saturday, Jan. 29, 1887.
After that date bonds will not be teceived except on
the payment of such penalty as the committee shall
impose.
A large majority of the bonds of each c'ass are
iH1 deposit, arjd the commi tee will proceed
with the execution of the plan without delaying for
further deposits.
INCOME BONDS must be deposited on or before
March 1.
STOCK must assent and pav firs’ Installment of
assessment,
per cent, Feb. 1, and second Install
ment, Sfcj per cent, March 2.
J. D. CAMPBELL,
Secretary of the Committee.
TM K
M E R C A N T IL E
N A T IO N A L
A BANK OF THE CITY OF NEW 1 ORK, NEW
Y o r k , Jan. 14, lh87.—A t the »nnuai meeting ot the
shareholders o f this bank, held on the 11th Inst., the
following-named gentlemen were duly elected Di
rect ors for i he ensuing year:
WM. C. BROWNING,
T- k n e e l a n d ;
BAGGING.
W A R R E N , JO N E S A
ORATZ
S T . L O U IS , M o .
M a n u fa ctu re rs o f P u re J u te B a g g in g .
IMPORTERS
IR O N
of
C O TT O N
ISAAC N. PHELPS,
geo. h
.
sarg bn t,
EMANUEL LEHMAN,
CHARLES M. VAIL.
SET H M. m lLLIKEN,
ISAAC WALLACII,
W M. T. MOORE,
JAMES M. WENTZ,
E; N1CH0:LS’
f r s . H. N. WHITING,
AUGUSTUS G. PAINE. FRKD'K 8. SCHENCK.
WM. P. ST. JOHN.
At a meeting of the I- om l of Directors, held this
day. Mr. WM, P. ST. JOHN was unanimously re
elected President.
F. B. SCHENCK, Cashier.
T IE S.
Bliss, F a b y a n & C o .,
New York, Boston, Philadelphia,
R. T . Wilson & C o.,
SELLING AGENTS FOB LEADING BBANDS
B R O W N âc B L E A C H E D S H I R T I N G S
A N D S H B K T IN G S ,
PBINTS, DENIMS, TICKS, DUCKa * 0.
ANKERS a n d c o m m i s s i o n m e r c h a n t s ,
* F x c lia u g e C o u r t, N e w Y o r k .
T o w e ls ,Q u ilt s , W h i t e G o o d s A H o s ie r y
Drills, Shthings, de, fo r Export Trade.
New Y ork , December, 1886.
To the security holders of the Lake Erie & West
ern Railway Company:
The purchaser, Gen. Samuel Thomas, has agreed
to sell the property to a new company to be formed,
called the Lake Erie & Western Railroad Company,
whose line will extend from Sandusky, Ohio, to
Peoria, HI., 430 miles, and which will Issue the fol
lowing securities:
$4,300,000 first mortgage, gold, 5 per cent, 50-year
bonds, being at the rate of $10,000 per mile.
$8,600,000 preferred stock, being at the rate o f
$20,000 per mile.
$8.600,000 common stock, being at the rate of
$20,000 per mile.
All old securities have been extinguished by the
sale and will receive their respective portions of the
purchase money from the offloers of the court. The
present car trusts will also be paid off, leaving the
property free from lien except as above.
Old security holders will be allowed to subsorlbe
for certain portions of the new securities as follows5
INCOME BONDS.
Holders of Income bonds, or certificates of deposit
of same with the Central Trust Company will be
allowed to deposit their •bonds or certificates, as th®
case may be, with the Central Trust Company and
receive a receipt which will entitle them to what
ever payment is due from the sale of the railway
when paid by the Master of the Court.
In Hdultlon: Holders of Lafayette Bloomington
& Muncie Incomes, or certifies'es, depositing,
same on or before Jan. 15. 1887, will receive a ceiv
tifleate giving them the right to subscribe for 800
per cent of their holdings in preferred stock of the
nbI'Ti!bPopany a5 85 per cent. And they are hereby
notified that to avail themselves of the right to sub
scribe they must deposit sula bonds nr certificates
on or before Jan. 15, 1887. and in case of subscribing
must pay 50 per cent of the 85 per cent o f the
amount subscribed for on or before Jan. 20,1887.
Uake Erie & Western Incomes, or
certificates, have the same privilege except as to
the amount of their subscription, which in their case
“ ill be 250 per cent of their holdings.
Holders of Sandusky Division Incomes, or certlfl
cates, have the same privilege except as to the
“ mount of their ¡-ubsoription, which in their case
will be 150 per cent of their holdings.
STOCKHOLDERS.
The old stockholders will be allowed to deposit
their stock with the Central Trust Company of New
v oi k. and on payment of $12 per share will receive
certificate for the par of their old sto k, which will
be convertible into new common stock when issued
by the railroad company. And they are hereby notined that they must do so on or before Jan. 15, 1887.
Stockholders who have paid assessment will have
credit for same on authorizing a transfer of the
mount so paid.
For any further information apply at No. 2 Wall
Street, New York.
NELSON ROBINSON.
For the purchaser.
THE CENTRAL TRUST COMPANY Is now
prepared to receive stock and lnoome bonds, Issuing
certificates therefor under the above plan.
Bondholders, to avail themselves of the benefits
the Matheson-Palmer reorganization agreement_
Oct. 15, 1886, are required to deposit their bonds
without delay in the Union Trust Company, No. . _
Broadway, New York, against its negotiable receipts
therefor.
Messrs. Geo. S. Coe, Exstein Norton and Joseph
D. Potts have been agreed upon as the Purchasing
Committee, to whose order the bonds will be de
posited.
Only deposited bonds are entitled to participât
In the subscription for new bonds or In the reorgan
ization plan. The custody of more than a majority
o f the bonds has already been secured.
Bonds can be deposited until Jan. 27 withow
charge.
A copy of the Agreement Is filed with the Union
Trust Compauy, and bondholders can receive copies
o f the Trust Company and of the Secretary of the
Railway Company, 82 Nassau Street, and of the
members o f the committee.
Dated Dec. 6,1880.
MATHESON & CO.,
WM. J. PALMER.
T H E CANADA SOUTHERN RAILWAY CO
.
▼
Investment Securities
BOUGHT AND
SOLD.
W ANTEDt
Toledo Ann Arbor & North Michigan Ists.
Southern Central lsts.
Middletown Unlonvllle & Water Gap 5s.
Indianapolis & Vincennes lsts and 2as.
Scioto Valley Bonds, all issues.
A L B E R T E . H A C H F IE L D ,
No.
P in e S treet.
[VOL. XL1V.
THE CHRONICLE.
n
Tarvis- Conklin
Mortgage Trust C o.,
ISSU E OF
^
5
, 0
0
0
, 0
0
fifitnmetaï.
fjftuattctal.
fftttirocial.
0
Chicago R ock Island &
SUCCESSOR TO
Pacific Railway Co.
Jarvis, Conklin & C o.,
F IV E P E R CENT
KANSAS
FIRST MORTGAGE EXTENSION AND
COLLATERAL BONDS.
UNITED STATES TRUST COMPANY, TRUSTEE,
C IT Y ,
St. Paul Minn. & Manitoba Consolidated 4%s, Gold, Due July, 1933.
St. Paul Minn. & Manitoba
1909.
MO.
St. Louis Cable & Western Railway
1st 6s, 1914. _
Northern Pacific
Gold, 1933.
B R O W N B R O S . & CO.
K U H N , L O E B & CO.
J . & W . S E U IG M A N & CO.
\VE O F F E R F O R S A L E
$ 1 ,3 0 0 ,0 0 0
PER
CENT F IR S T M O R TG A G E
1 0 0 Y E A R RON DS.
Principal and interest guaranteed by the New
York Central & Hudson River Railroad Co.
THE PRICE IS 10314 PER CENT AND ACCRUED
INTEREST.
For further particulars apply to
D R E X E L , M O R G A N & CO.
2 3 W a l l S tree t.
U N G E R , S M I T H E R S dc C O .,
4 4 W a l l S treet.
NEW Y ork , Jan. 8,1887.
NOW R E A D Y.
H
A
N
D
- B
O
O
K
OF
R a ilr o a d S e c u r i t i e s ,
J A N U A R Y , 1887.
P rice in Red Leather Covers, • • $1 00
To Subscribers o f the Chronicle,
75
W IL L IA M
B . D A N A dc C O .,
7 9 & 81 W ILLIA M STREET, NEW Y O R K
Walsh & Floyd,
S T O C K
B R O K E R S ,
NO. 26 BROAD STREET, NEW YORK.
JAMES W. WALSH, JR„
NlOOLL FliOYD1JB
Member N Y. Stock Exchange.
C O .,
Secured by Mortgage on the
Kansas City WaterWorks
Interest June and December. "
C en tra l T ru st Company, T ru stee.
For sale by
T A IN T O R & H O L T ,
11 W a l l , C orn er N e w Street.
Coal and Coke Lands.
1 0 ,0 0 0 A C R E S IN O N E T R A C T , I N A
S T A T E S O U T H O F O H IO .
Quality equal to Connellsville. Three veins. 120
laches. Close proximity to rail ads, and furnaoes
of large capacity. At a bargain.
Apply to
GEO. B. RIPLEY,
66 Broadway.
Bible Hotel,
AM STERDAM .
Beautifully situated in the centre of the city, close
to the Railway Station and the Exchange. First
rate cooking. Excellent wines. Moderate prices.
W. P. WERKER. Manager.
Interest coupons payable at the CHASE NA
TIONAL BANK, New York. Send for circular.
References: Chase National Bank; Winslow, Lanier
; Co., &c.
W. S. Grosvenor. Pres., I Kingman, Kan.
J. P. Jones, Vice Pres., 1
__________
. S. A l e x a n d e r , Pres. A. A. A l e x a n d e r , Cash’r-
Texas National Bank,
SAN A N T O N I O , T E X A S .
COLLECTIONS AND INVESTMENTS MADE.
Correspondence invited.
P
^& READING R A ILR O A D COM
R P A N Y AND
A F F IL IA T E D COMPANIES.
the
BROS. &
S IX P E R C E N T
W A T E R SU PPLY BONDS,
Kansas Security C o.,
of
6s,
National Water Works Co.
N ew Y o r k Office 9 6 B r o a d w a y , c o r. W a ll st.
STRICTLY first-class Kansas Farm Mortgages
paying an annual interest of
e o r g a n iz a t io n
p h ia
1st
1 8 W A L L S T R E E T .___________
Seyen P er Cent Guaranteed.
New Jersey Junction RB.Co.
4
BLAKE
S A M i d i I. M . J A R V I S , P re s’ t,
E D W I N E . W I L S O N , 1 st V ice -P re s> t.
H E N R Y P . M O R G A N , 2 d V ic e -P re sH .
The Chicago Rock Island & Pacific RJlW*r Co
R O L A N D R . C O N K L IN , Scc’ y.
has negotiated with the undersigned 810,0UU«UUU
W M . F . S H E I iI iE Y , T r e a s ’ r.
o f its First Mortgage Extension and Collateral Bonds
Issued at the rate of » 1 5 , 0 0 « per mile for single
G E O . W . M c C R A R Y , C o u n se l.
track actually constructed, and » 5 ,0 0 0 addltlona
per mile for equipment, the company having the
The above Company negotiates mortgages
right to Issue » 7 .5 0 0 additional per mile fo^ on im proved Real Estate w orth from three to
double track; the bonds can only be '«sued whe
eocured by direct first mortgage or upon the deposit five times the amount of the loans. The
with the Trust Company of first mortgage bonds on Mortgages are for five years and draw six
and seven per cent interest.
railways forming part of the Chicago Rock. s' a"
Pacific Railway Company’s system; ^ ’ O O O ,«««
It also offers Its ten-year Debentures, draw
o f the same bonds may be issued hereafter
ing six per cent interest, w hich are direct
retirement o f the bonds of the Chicago & South- obligations o f the Company. They are issued
western Hallway Company maturing 1899.
in series of »100,000 and secured by an equal
The bonds are coupon bonds for 8 1 , 0 0 0 , conver
amount o f First Mortgages on im proved Real
lble Into registered certificates in multiples o
» 5 , 0 0 0 each; the principal of the bonds matures Estate deposited in trust with the Mercantile
in 1934, but the company reserves the right of re Trust Company o f New York City. They are
further secured by the entire paid up capital of
demptlon at 1 0 5 percent and Interest on and afte
July 1,1891. The Interest is payable January and the Company, amounting to $1,000,000.
terest and principal payable at Mercantile
July 1.
According to the last annual re
Trust Co.
port the net earnings of the comWrite for further information and reference
panyfor the year ending March
_
to our offices at Kansas City, Mo., or to
31, 1880, were.............................. ..
34
And the interest on entire bonded
J O H N M . S H R I G L E N , Manager.
indebtedness, Including leased
4 1 1 W a l n u t S t., P h ila d e lp h ia .
lines, rentals and tolls, were......» 1 ,6 8 0 ,0 2 9 0 4
OB TO
» 5 ,0 0 0 ,0 0 0 o f these B on d s a r e n o w o ffered
M e ssr s. M O R G A N & B R E N N A N ,
f o r su bscrip tion by the u n dersig n ed at 1 1 0
Managers,
p e r cent and a ccru e d in terest, the r ig h t
2
7
C
u
sto
m H o u s e S treet,
be in g re se r v e d to a d v an ce the p rice o r to
P r o v id e n c e , R . I .
c lo s e su bscrip tion s w ith o u t fa rth e r n o tice .
Terminal
FOR SALE BY
8 1 ,0 0 0 ,0 0 0
C a p ita l P a id U p
2d 6s,
h il a d e l
Creditors and shareholders are requested to de
posit General Mortgage Bonds with Messrs. Drexel
& Co., and other securities with Messrs. Brown
Brothers & Co., under the terms of the agreement
o f March 22, 1880, as modified by the plan of re
organisation bf December 14,1886, copies of which
can be had upon application at the respective bank
ing houses of the depositories, and at the Guaran
tee Trust and Safe Deposit Company.
General Mortgage bondholders on depositing
their bonds will receive from Drexel & Co.. en
graved certificates now negotiable at the Stock
Exchange and the interest now due under the
Massasoit
House,
S P R IN G F IE L D , M ASS.
THE BEST APPOINTED HOUSE IN WESTERN
NEW ENGLAND.
XT
Convenient for the tourist or business man. Near
Union Depot.
W . H . C H A P IN .
Fifth A ven u e
HOTEL,
M adison S qu are,
NEW YORK,
Th« Largest Best Appointed and Most Liberally
M a X e d ^ o te l in theC ity, with the Most Central
an d DeUghtful Location. c o c K _ DARLINQ * 0 0 .
J ohn G. M oor e .
W .K . K it c h e n .
G.B. Sc h le y
Moore & Schley,
BANKERS AND BROKERS,
2 6 B R O A D S T R E E T , N E W {Y O R K .
.B r a n c h Of f ic e s :'
„ ...
,,
72 Wall St., n ! Y.
114 So. Third St., Phila.ll
Connected with
I. A. Evans & Co., Boston,
_
Corson & m acar tn ey , Washington, D.u
E. L. Brewster & Co., Cäucago.
HUBBARD & far m er , Hartford.
Private Wire Connections.
Buy and sell Stocks, Bonds and Miscellaneous
Securities on New York Exchanges; also Grain and
_
Provisions on Chicago Board of 1 rafle.______
Spencer Trask & Co.,
P For all ether securities Temporary receipts w
be issued by Brown Brothers & Co., exchanges
for engraved certificates (as soon as they can
prepared), to be made negotiable at the Stock <
change, entitling the holder to the new securi s
16 and 18 Broad Street, N. V
ai^ V ^ r s u S % ntion will be called for in instal
ments o f twenty-five per cent each and thirty days
notice by advertisement will be given prior to each
Albany, N.Y.
Providence, E. I!
Saratoga.
° Creditors and shareholders are Mven until March 1,
1887. to accept the provisions of this plan.
In case a reorganization without foreclosure cannot be effected, then all parties who have failed to
deposit under the plan by March 1,1887, will be fx~
cluded from all participation *n the reorganization
by foreclosure, whieh (if there be sufficient deposits
to satisfy the Trustees), will then be brought about
immediately, and for the benefit of those only who have
deposited.
JOHN B. GARRETT,
Chairman Reconstruction Trustees,
Transact a General B anking Business
B A N K E R S <k BR O K E R S
Direct Private Wires to eaoh office and to
PHILADELPHIA.
BOSTON,
WORCESTER
VOL. 44,
SATURDAY, JAN U A R Y 15, 1887.
C O N T E N T S .
out of other operations. The result is $580,606,652 this year,
against $443,760,347 a year ago, or a gain of 30'8 per cent.
T H E CHRONICLE.
Clearing-House R etu rns.......... 69 Railroad Earnings in Decem
The Financial S itu ation....... .. 70
ber and the Y ear 1886........... 74
The Wealth o f {Massachusetts. 79
Senator Cullom’s Speech and
the Long and shore Haul
Failures in 1 8 8 6 . . . . . . . . 4........... 80
Clause..............
72 M onetary and Commercial
.Bismarck's Speech and the
English N ew s.......................... 80
European Outlook................. 73 Commercial and M iscellaneous
N ew s.......................................... 82
3 £ h je
T he C o m m e r c i a l
and
C h r o n ic le .
F in a n c ia l C h r o n ic l e
is
New York every Saturday morning.
Week Unding Jan. 8.
1887.
New York.............
Sales of—
(.Stock»... .»hares.)
(Cotton....hales.)
(Grain.. .bushel»)
(Petroleum..bhls.)
Boston.................
Providence...........
published in Hartford...............
[E ntered at the Post Offiee, New York, N .Y., as second class m ail matter.]
Terms o f Subscription—Payable in A dvan ce:
New Haven..........
Portland...............
Worcester...........
Springfield............
Lowell.................
F or One Y ear (including postage)..........................................$10 20
For Six Months
do
...........................................
6 10
Total N. England
European Subscription (including p osta ge)........................ 11 28
niifiC Annual subscription In London (including p o s ta g e )......... SL2 7s,
Philadelphia.........
Six Mos.
do
do
do
. . . . . . ¿ 1 8s.Pittsburg..............
These prices include the I nvestors ’ Supplem ent , issued once in tw o
months, and furnished w ithout extra charge to subscribers o f the Baltimore............
Ch ronicle .
Total Middle....
Subscriptions w ill be continued until definitely ordered stopped. The
publishers cannot be responsible fo r remittances unless made by Drafts Chicago...............
or Post Office M oney Orders.
Cincinnati............
A neat file cover is furnished at 50 cents; postage on the same is 18 Milwaukee...........
cents. Volumes bound fo r subscribers at $1 00.
Detroit.................
H i-|
Offices In E n g la n d .
Indianapolis.........
ifTThe offiee o f the Commercial and F inancial Ch ronicle in London Cleveland.............
is with Messrs. E d w a r d s & Sm ith , 1 Drapers’ Gardens, E. C., where sub Columbus.............
scriptions and advertisements w ill be taken at the regular rates, and Peoria...................
single copies o f the paper supplied at Is. each.
Omaha..................
The office o f the Chronicle in Liverpool is at 5 B row n’s Buildings, E x Minneapolis.........
change.
Denver.................
WILLIAM B. DANA.
JOHN ü. FLOYD.
W I L L I A M R . D A N A & C o ., P u b lis h e r s ,
7 9 Sc 81 W i l l i a m S treet, N E W Y O l t K .
P ost Office B o x 958.
C L E A R IN G H O U S E R E T U R N S .
Taking the bank clearings as an indicator, the year 1887
would seem to have opened very auspiciously, inasmuch as
the aggregate exchanges for the first week (that under review)
are of large volume, and moreover were exceeded only three
times in 1886, once each in 1885 and 1883, and not at all in
1884. Furthermore, the periods of the years mentioned which
exhibited gains over the present total were those of great spec,
ulative activity in stocks at New York.
Outside of New
York, contrasted with previous years, the fact is revealed
that this week’s total has been exceeded but once, and then by
only about half a million of dollars. A ll things considered,
therefore, the current exhibit would seem to be fully as fav
orable as any we have yet recorded.
In comparison with the corresponding period a year ago,
Boston and New Orleans alone record losses, the decline at
the former city being fully accounted for by the much smaller
stock operations. On the other hand, many cities exhibit de
cidedly heavy gains, as for instance : Indianapolis 176 9 per
cen t; Omaha, 187'7 ; Kansas City, 74 6 ; Peoria, 59'7, and
Pittsburg, 37'5 per cent.
1888.
1808,700,152 : $718,037,847
(1,780,074'
(283,400;
(87,252,000)
(28,588,000)
Week Ending Jan. 1.
Per Cent.
1887.
+12-9
$520,272,258
(1,750,287) (+1*8)
(439,000) (—35-5)
(41,179,000) (—9-5)
(77,217.000) (—03*0)
—6-4
$97,246,118
-)-5’6
5,027,000
+7 9
8,137,081
-002
1,590,340
+215
1,025,083
845,874 +15-8
994,338 -017-4
518,106 +27-2
100,977,083
5,811,200
3,380,701
1,888,075
1,240,125
974,311
1,100,051
850,050
Percent
-13-5-
(1,609,929)
<—4-4>
(332,900) (—1-7)
(31,042,000) (+37-41
(23,929,000) (-44-3)
$82,484,085
4,600,200
1,468,415
095,055
858,080
899,951
739,186
557,211
+1-0'
—1-5
—17-2
+1-0
—7-9
+1*5
—7-s
+7-2
1105,410,102
$110,385,186
-4-5
$92,609,883
-0-0-4
$74,820,154
11,233,719
10,027,522
$80,507,828
8,171,454
10,105,757
-0 22-7
“f 8$ ’£>
-04’7
$47,512,438
8,245,550
10,184,927
+0*1
+27-7
$102,481,895
$84,004,830
+20-7
$05,802,915
-04-2
$03,187,787
11,810,500
5,000,792
4,445,348
4,434,828
8,724,827
2,285,500
1,241,323
0,089,404
3,871,041
4,004,347
$55,592,912
10,702,000
4,978,880
3,447,028
1,601,572
2,715,389
1,927,945
777,838
2,501,459
3,264,284
8,740,861
+136
-010*4
+0-6
+28 9
+170-9
+87-2
+18-5
+59-7
+187-7
+12-5
-08'5
$41,533,767
8,306,900
3,702,927
2,890,228
2,525,987
2,015,940
1,545,164
708,608
3,773,084
2,778,129
8,081,747
—1-0
$91,316,874
+20-4
-09-0
-00-6
+18-9
+10-9
+125-0
-020-8
—1-7
+39-8
+57-5
+23-4
+2-2
$73,588,429
■00-6
$13,049,512
1,052,380
‘ 9,815,000
8,340,461
5,498,137
1,995,823
1,451,783
+2-8
+31-0
Total Western...
$100,918,313
St Louis..............
St. Joseph..........
New Orleans.........
Louisville.............
Kansas City.........
Memphis.............
Galveston.............
$20,122,575
1,248,901
10,488,400
0,058,587
7,523,073
2,880,815
* 1,895,951
Total Southern..
$50,813,332
$43,462,832
416-9
$80,312,552
+ 2-2
San Francisco......
$14,079,401
$11,393,850
4288
$14,710,888
+83-3
Total a ll............ tl,192,070,878 11,057,501,434
Outside New York $383,307,720 $341,403,587
+12-7
+Ï2"3
$809,392,428
' $283,120,167
-7 9
-04-^
$17,032,092 +18-1
1,070,919 +16-0
11,088,855
—5-4
5,753,628 415-7 4,808,752 +74-0
2,442,245 +18-0
1,702,341
+7‘6
—o-o
—22-6
+34-4
+ 58-7
-0-3
1One day’s clearings estimated.
The returns of exchanges for the five days as received by
telegraph this (Fridav) evening exhibit a decrease at all points
from the figures for the corresponding five days of last week.
Contrasted with the similar period of 1886, however, there is
a gain in the whole country of 5*6 per cent, and outside of
New York the increase reaches 13’1 per cent.
Five Days Ending Jan. 14.
1887.
New York.............
Sales of Stock (shs.)
Boston..................
Philadelphia.........
Baltimore.............
Chicago.................
St. Louis...............
New Orleans.......
$550,482,489
(1,298,495)
70,107,315
48,510,339
11,241,998
41,698,000
14,280,549
9,539,000
A t New York the exchanges for the week record an increase
over the similar week of last year of 12*9 per cent. Share
transactions on the Stock Exchange cover a market value of
Total............... $745,860,880
$91,265,000 against $108,911,000 for the week of 1886. For Balance. Country*
89,052,781
reasons given in our annual review of clearings last week we
Total all.......... $884,913,111
deduct two-and-a-half times the above market values from Outside New York $284,430,622
the total New York exchanges to arrive at clearings arising
Estimated on the basis ot the
NO. 1,125.
1886.
Per Cent.
5 D’ye End’f, Jan. 7.
1887.
Percent
$530,014,506
(1,811,131)
70,893,402
42,995,476
10,268,105
30,108,000
12,497,593
10,875,984
+2-0
(-283)
—1-1
+12-8
+9 5
+15-5
+14-3
-12-3
$701,441,019
(1,401,164)
70,000,495
04,304,702
14,508,842
55,285,000
17,109,575
10,881,480
+14-3
(- 7 0 )
—101
+20-5
+3-6
+14-2
+10-5
—1*5
»720,253,128
70,174,399
-030
+209
$940,497,779
77,489,838
+12*4
-021-2
$790,427,525
$253,813,019
+5-0
-0121
$1,017,087,617
$310,545,998
+13-0
+8-S
last weekly retaros.
THE CHRONICLE.
70
fVoL. XLIV.
fore as if the stock o f bullion in the Bank of England
would be replenished much until the shipments from New
There has been no essential change in the money mar Y ork begin.
Our foreign exchange market has undergone a complete
ket the past week. On call, as represented by bankers’
balances at the Stock Exchange, the range has been from change. From being down to a point early last week making
3 to 6 per cent, averaging about 5 per cent. The banks gold imports profitable, later in the week it passed above
claim to have a good inquiry at 6 per cent; but loans with that point and this week it has further advanced 1-|cent per
stock collateral running from four to six months are pound sterling. As we write there is an easier tone and
easily negotiated at from
to 6 per cent. Commercial some indications of a slight downward reaction. The rise
paper is in good supply, merchants now appearing in the was due almost wholly to a demand for investment and
market as borrowers who have heretofore refrained from speculation which absorbed all the bills offering. The
seeking accommodation in the expectation of easier rates, last advance of half a cent however, does not
we
write
appear
to
have
been justified
but the demand is very light from the city banks though as
fair from out of town institutions, sixty to ninety days by the inquiry, and on Thursday and Friday there was a
endorsed bills receivable being quoted at
per cent, disposition to realize, making the sight rate heavy, though
four months’ commission house names at 5^- to 6£ per cent, long sterling continues steady. The purchases for invest
and good single names having four to six months to run ment have been chiefly by trust companies. Some bank
ers have also bought for speculation, procuring cheap bills
at 6 to 7^- per cent.
It now looks as if the tendency of money for a time at and intending to hold them for a profit. The reasons
least would be toward lower rates. This is the period which have induced these purchases are not far to seek.
when the return flow of currency from the interior is As an investment the security is ample. W e have now
usual; and our reports have shown for three weeks that reached the period of the year when exports would natu*
such a movement was in progress. The quieter tone at rally fall off, and other things being equal exchange
present prevailing in business circles will tend to increase would rise; hence the chances of profit resulting
accumulations here, and so long as the fate of the Inter- from the holding of long sterling till it matures, are good.
State Commerce bill is in doubt that tendency must con There are possible contingencies, too, which might make
tinue ; should that measure become a law, a time of sus the advance speedy and the profit large. This could
pended activity is inevitable, its extent and duration happen in case trade continued to develop as during the
being dependent upon the action of the Commissioners latter part of the year, for with rising prices imports
under it. If the law means very little of a general char would increase rapidly while exports were contracting;
acter, as some Senators are claiming now, and is executed in fact, imports are increasing now. It is urged also that
in that spirit, its effect will be quite temporary. But how should action on the Inter-State Commerce bill disturb
such a construction can be carried out in practice is by no confidence in railroad securities, American securities afloat
means clear, for the view of Senator George of Mississippi at London might be returned, with a similar result on the
is certainly the view which the farming interests at the exchange market— the latter contingency seems, however,
‘ ‘local stations’’ take of it, and in which the measure was quite remote, for we do not see any probability of perma
nent harm to railroads to flow from the bill in question— it
conceived.
Discounts of 60 day to 3 months’ bank bills at London is trade that is more likely to be disturbed and deranged.
W e received yesterday the annual statement of gold
are reported at 3^ per cent, while the bank minimum
remains at 5 per cent. This ease in the open market, not* and silver production made by Mr. Valentine of Wells,
withstanding the increased Stock Exchange demands and Fargo & Co., for the year 1886. Next week we shall give
the very low point to which the Bank’s bullion has fallen, his figures in full with our review of the world’s production
indicates that the trade inquiry for money is very limited. of the precious metals. It is satisfactory to know that Mr.
In consequence of the open market not following more Valentine finds a material increase in the yield of both
closely the Bank rate, but little gold is being received at gold and silver in the States and Territories west of the
London from abroad. Of course the light-weight coin in the Missouri River. His aggregate of gold including British
Paris stock of that metal, referred to on former occasions, Columbia and receipts by express from the west coast
makes imports from that point more difficult. The stock States of Mexico is $30,773,759 and of silver $53,776,
of the Bank of France is large, but the amount of bars 055; excluding British Columbia and Mexico, the totals
it is reported is small and
they
cannot
any are gold $29,561,424, and silver $52,136,851. Comparing
longer be obtained from the Bank; next to them Napo the latter totals with last year’s, as given by the same
leons are most desirable, for they are circulated only to authority, there is an increase of $3,167,668 of gold and
a limited extent, and it is
probable the coins $7,620,252 of silver.
The final estimates of the cereal crops of the country
are nearly full weight; after these come smaller
pieces, and as they have all been more or less for the season of 1886 have now been compiled, and
in circulation they necessarily melt at a loss. Shippers through the courtesy of Mr. J. R. Dodge, the statistician of
from Paris therefore have to make a close calculation the Agricultural Department, we have been favored with
allowing for abrasion as well as paying the premium asked. an early copy. W e cannot make room this week for the
This has been the experience in shipping to New York, details by States, but shall endeavor to do so next week.
and we see no reason why the same difficulties would not As to the aggregates for the whole country, the present
present themselves in a movement to London. A t all figures do not differ materially from the estimates of pro
events, notwithstanding the difference between London duction made two or three months ago. The wheat crop
and Paris in the official rate for money, very little gold is turns out almost exactly 100 million bushels more than in
moving. This week, of the gain of bullion by the Bank of the short crop year of 1885, being reported at 457,218,000
England, which is reported at £282,000, a private cable to bushels against 357,112,000 bushels. The yield of corn
us shows that only £73,000 came from abroad, the most of falls about 270 million bushels short o f the extraordinary
it however from France; there was also received from production of the previous year, but yet reaches 1,665
the interior of Great Britain £309,000 and exported to million bushels, which is above the average of the
Lisbon and elsewhere £100,000. It does not look there previous seven years (this being 1,652 millions) and
T H E F IN A N C IA L S IT U A T IO N
J a n u a r y 15, 1887. j
THE CHRONICLE.
therefore is quite satisfactory.
The only other large
cereal crop is oats, and that is reported at 624 million
bushels, against 629 millions in 1885, being with that
exception the heaviest yield of oats on record. In the
following we give the production of each of the three
cereals for eight years past, and also the aggregate local
or home value of the same, the latter being calculated
upon the basis of the prices prevailing in the different
sections where the crops were raised.
71
sections and classes of roads are represented in the table
the figures would seem to foreshadow a gain of 70 million
dollars in the gross earnings of the railroad system of the
United States in the year 1886, as compared with the
year 1885, thus raising the total to 835 million dollars.
It is an industrial system of this vast extent, that the
Inter-State Cofiimerce bill is going to put into the hands
of five politicians.
The most that can be said for the stock market this
week
is that it has been dull and strong, with a spasm of
Oats.
activity the last two days under the leadership of the
Home
Year».
Home
Haine
Yield.
Yield.
Yield.
Value.
Valtie.
Value.
Southern specialties, and more particularly Richmond
Bush.
$
Bush.
«
Bush.
Ï
&
West Point Terminal. No one knows the precise status
1886....... 3.665.441.000 610,311,000 457.218.000 314,226,020 624.134.000
186,137,930
1885____ 1.936.176.000 635,674,68o! 357.112.000 275,820,360 629.409.000
179,681,860 of the negotiations for a consolidation of Southern roads,
1884.. .. 1,795,528,482 640,735,859 513,763,900 330,861,254) 583.628.000
161,528,470
1883....... 1,551,066,895 658,051,485 421,086,160 388,649,272 571,302,400 187,040,264 and probably it best suits the purposes of those manipu
1883....... 1,617,025,100 783,867,175 504,185,470 444,602,125 488,260,610
182,978,022 lating the market that nothing definite shall be known.
1881....... 1.191.916.000 759,482,170 383,280,090 458,790,427 416.481.000
193,198,970
1880....... 1,717,434,543 679,714,499 498,549,868 474,201,850! 417,885,880
150,243,505 As it is, rumor follows rumor, and denial follows denial,
1879....... 1,754,591,6761639,464,14S| 459,483,137 509,269,7731 407,838,999
but all the time Terminal stock seems to be the centre of
While neither of these three principal cereals thus shows activity, and is made to speed steadily upwards. Apart
for 1886 as heavy a production as in the best of previous from the course of Southern stocks, there is very little of a
years, yet when we consider the combined total of them special nature to the market, except that on small
all, the comparison is a good one.
For 1886 such transactions there has been a gradual hardening of
total is 2,746 million bushels; in 1885 it was 2,922 millions values towards the close of the week. Nickel Plate
in 1884 2,891 millions, in 1883 2,543 millions, in 1882 1st mortgage bonds have advanced, sharply on rumors of
2,609 millions, in 1881 1,994 millions, in 1880 2,633 mil a settlement with Lake Shore, and the stock of the latter
lions, and in 1879 2,621 millions, showing that in only has been sympathetically strong, and a trifle higher. The
two recent years has the production of the three cereals strike of the anthracite coal handlers is becoming quite a
been exceeded. Hence there is very little reason for com serious matter, at least as concerns consumers in this
plaint as to the yield. A s to price the case is different, vicinity, but the coal properties are all firmly held, and
more especially with regard to wheat. The 100 millions for some of them values have improved. On the whole
addition to the latter crop has added not quite 39 million however, there is little disposition to take an active or
dollars to the value of that crop. To show how important extended interest in the market, pending the final deter
has been the decline in the price of wheat in recent years, mination of the Inter State Commerce bill.
it is only necessary to say that while the yield in 1879
The following statement, made up from returns c o l
was but two million bushels greater than in the late year, lected by us, shows the week’s receipts and shipments of
that crop was valued at over 195 million dollars more gold and currency by the New York banks.
than the recent one. It is in some degree satisfactory,
Received by Shipped by
Week ending January 14,1887.
Net Interior
however, that with reference to corn the 270 millions de
N. Y. Banks. Si. Y. Banks.
Movement.
11,745,000
1584,000 Gain..11,161,000
cline in production, as compared with the previous year,
Gold..................................................
has worked a decline of only 25 million dollars in value,
Total «told and legal tenders...... 11,745,000
f584,000 Gain.. $1,161.000
and that the aggregate value of wheat, corn and oats
The above shows the actual changes in the bank hold
stands at 1,110 million dollars in 1886, against 1,089 mil.
ings of gold and currency caused by this movement to and
lion dollars in 1885, being an increase of 21 million
from
the interior. In addition to that movement the
dollars.
banks have gained $800,000 through the Sub-Treasury
On another page we give our usual monthly review of
operations and $460,000 by Assay Office payments
earnings, covering this time the month of December and
for imports of gold.
Adding these items to the
the year 1886. In the number of roads embraced and the
above, we have the following, which should indicate
extent of territory covered, this is the best statement of
the total gain to the New York Clearing House banks
earnings ever published by us. The compilation for De
of gold and currency for the week covered by the bank
cember includes 97 roads, covering a mileage of over 60,000
statement to be issued to-day. It is always to be remembered
miles. It shows a gain of $2,433,000 in earnings over
however, that the bank statement is a statement of averages
those of the same month in 1885, being larger than any
for the week, whereas the figures below should reflect the
monthly increase reported for 1886 except that from July
actual change in the condition of the banks as between
to September, in which months the heavy movement of
Friday of last week and Friday of this week.
winter wheat this year proved such an important factor
in swelling railroad receipts. For the full year we have
Week ending January 14,1887.
Into Banks. Gut of Banks. Net Change in
Bank Holdings.
the returns of 93 roads, with mileage somewhat above
Banks' Interior Movement, as above *1,745.000
*584,000 Gain..*1,161,000
that for December, or 62,618 miles. Poor’s Manual Sub-Treasury oper.and gold import. 6,760,000
5,500,000 Gain.. .1,260,000
Total gold and legal tenders.... *8,505,000
for last year had reports from 123,110 miles, so that
*6,084,000 Gain. 12,421,000
within fifteen days after the close of the year we have got
The Bank of England gained £282,000 bullion during
together reports of earnings on nearly one-half the total the week. This represents, as said above, a net amount of
mileage and to the aggregate amount of nearly 350 million £27,000 shipped abroad and £309,000 received from the
dollars. In exact figures the total reaches $344,352,956 interior. The Bank of France lost 6,800,000 francs gold
in 1886, against $314,288,444 in 1885, the increase and 3,975,000 francs silver, and the Bank of Germany
being $30,064,512. On the supposition that the gam since the last report gained 6,800,000 marks.
The fol
on these roads is a correct indication of the course of lowing indicates the amount of bullion in the principal
earnings on the other roads not yet reported— and we see European banks this week and at the corresponding date
no reason why it should not be considering that nearly all last year.
Com.
Wheat.
THE CHRONICLE
72
[V O L .
XL1V.
understanding and to bring out sharply the speaker s
interpretation o f this provision o f the bill, put as an illustra
Silver.
Gold.
Silver.
Gold.
tion the port of Boston, which has a foreign commerce o f
£
£
£
1
£
$125,000,000 annually, o f which thirty or forty millions
20.485.152
Bank o f E n g la n d ............ 19,589,089
45,731,732 43,179,400 consist of cottOD, cattle, wheat, corn, hams, bacon and
45
373,497
48.827,968
Bank o f France ...............
17,103,100 15,166 900
Jan. 13, 1587.
I
Jan. 14 ,1 8 3 6 .
Bank o f G erm any............ 17,922,480 15,893,520
63,319.984 58 346,300
T otal this w e e k ................ 86,339,537 61,267,017
[57,985,582
Total previous week — 86,148,159 61.265,906 82,637.785
lard__the products of the W est and South. Every ton
of that produce j Mr. Hoar said, was taken he
believed from a place in the country which is
The Assay Office paid $357,262 through the Sub-Treas- ¡from 150 to 250 miles nearer New York, Philadelphia
tiryduring the week for domestic and $462,703 for for and Baltimore than Boston. Now the railroads give a
eign bullion, and the Assistant Treasurer received the fol rebate of five per cent on all those exported articles. So
lowing from the Custom House.
Mr. Hoar asked, whether under this bill the railroads
would have to put down the local business of Massachu
Consisting o f—
setts (the cotton which is taken^to her factories and the
Duties.
Silver
Cer
Date.
Gold
U. S.
Cold.
tificates.
Oertiflc’s.
Notes.
food products which are bought to feed her people) to
$65,000 New York rates, that is to the rates of carriers who do not
$296,000
$50,000
$5,000
$423,393 20
73,000
111,000
45,000
9,500
241.036 56
“
8.
77,000 have to carry the goods so far by 250 miles ? Or has Bos
364,000
66,000
5,000
517,084
82
« 10
112,000 ton to give up her export trade ? Or must the export trade
344,000
86,000
5,000
549,627
32
“ 11.
93,000
29 4,000
98,000
3,500
489.453 91
of the second commercial city of the country depend on
« 12.
85,000
200,000
46,000
3,000
333,800
75
“ 13.
whether five Commissioners happen to think that is or is
$505,000
$31,000 $391,000 $1.609.000
$2,554,396 59
Total
not a special case? Mr. Cullom first replied that it
Included in the above payments were $23,000 in silver
was “ rather unfortunate that Boston is a little further
coin, chiefly standard dollars.
‘ •away from the centre of gravity than New Y ork,” but
he did .not think there was anything in the bill “ which
prohibited a railroad from carrying to Boston just as
S E N A T O R CULLOM 'S SP E E C H A N D TH E LO N G
ct cheaply as it carries to New York.” Here Mr. Hoar
A N D SH O R T H A U L CLAUSE.
interrupted the speaker again, saying that “ the Senator
Senator Cullom ’s speech in the Senate this week in
it (jjd not quite apprehend the force of his statement, but
which he endeavored to put a meaning on the long and
Mr. Cullom in his second retort still evaded the question.
short haul clause of the Inter-State Commerce bill is very
Finally the following colloquy took place.
W e quote*
instructive reading. To appreciate it, one must keep in
from
the
Congressional
Record,
so
there
can
be
no mis
m ind, that the measure he wa3 discussing applies to the
whole carrying system of the country and undertakes its
take as to what was said.
M r , h o a r —My friend does not still answer tbe question. Do you
not prohibit tliem (the railroads) from carrying it (cott-m, wheat, &3.)
dependent that all prices, business, and business centres to Boston at a loss rate than they carry it to Springfield, or Worcester, o
o f to day, are more or less the creatures of existing rail Fall River, or to any other point on the line in Massachusetts 1
M r . C ullom —A t a less rate 1—Yes.
road m eth o d s; and that the clause in question if it has
Mu. H oar —T hat is exactly the point. Wo have got, therefore, have
any purpose or meaning was intended to apply and does w o not, under your bill, to put down Worcester, and Springfield and Fall
R iver to the New York rate, or else Boston cannot have the exports ?
apply to widely existing arrangements which have grown up
M r . C ullom —Has the Senator any objection to having the rate put
out of the necessities of a very large country having d ow n l Is there any reason w hy the rates to New Y ork and B oston
large surplus productions seeking distant or foreign should not ho the same 1
M r . H o ar —T he roads cannot live at those rates.
regulation ;
that
trade
and
railroads
are
so
inter
m arkets.
So much we believe is admitted. A t this point then
Senator Cullom takes up the discussion with the apparent
object not of belittling these fears if there is any cause
for them, but of quieting them, by showing that the dis
turbing clause has very little if any meaning.
Mark
however, that he starts with the announcement that he
cannot “ say positively what construction will be put upon
u the language by the courts.” Any modest man would
have said as much. But what an admission ! Here is a
proposed law having in it a section that may mean, and
hosts of good judges think obviously does mean, the dis
turbance of all the trade of the country, with loss to
every producer west of Chicago and south of the Ohio
River, and which its very framer says is of doubtful
significance, and yet he urges its passage just
as it is without any change. Can such a course as that be
justified ? If the provision means what Senator Cullom later
on in his speech claims it does, why not make it say that
plainly, so that neither he nor any other honest man need
have a doubt as to its effect? Is not the risk far too
great to permit any uncertainty to remain, and especially
when its removal is such a trifling matter comparatively ?
The necessity for taking this course and amending the
objectionable clause, becomes most obvious when one
reads further in Senator Cullom’s speech. For he was
subject to a very close cross-examination by Mr. Hoar of
Massachusetts on the one side and by Mr. George of
Mississippi on the other. The former, to prevent mis-
W e give this extract verbatim, because it is a perfectly
distinct admission on the part of Senator Cullom that the
method the railroads have adopted, under which the export
business of Boston has been possible, is prohibited by the
bill.
Furthermore, if this admission correctly interprets
the law, and if the arrangement suggested by Mr. Hoar
is no longer allowable, then it follows inevitably,
that every similar discrimination which favors the
long haul will be illegal, and that the Colorado wheatgrower and the Texas cotton-producer must get
their stufi to market as best they can under the new con*
ditions.
But Senator Cullom does not stop there. O j the con
trary he continues his remarks at some length, and as
he proceeds his views seem not all at once but gradually
to change and broaden. Finally, when he begins to talk
about the expression “ substantially similar circumstances
tt an(i conditions,” the whole long and short haul clause,
under his adroit touch and this pregnant negative, be.
comes a mere blank, requiring nothing to be done that
any railroad in the land need pay much if any attention
to. W e have not room to note (in fact we think it would
be hard to tell) how the Senator rises from his interpre
tation of a special case made in reply to Mr. Hoar’s ques
tions, to the general principles he lays down. Nor is it
necessary that we should do so. It is sufficient to know
that he reaches and states certain general conclusions
which can only be interpreted a3 making the whole clause
J a n u a r y 15, 1887.]
THE
CHRONICLE.
powerless. Lest we may be considered as having incor
rectly represented the Senator, let us quote briefly from
this part of his speech. He says : “ As I understand them,
“ the words *circumstances and conditions’ mean the condi
t i o n s that govern railway traffic, and the circumstances
**under which it is transported. To my mind these words
are full of meaning. 'They comprehend all the circum
sta n ces and conditions that may justify differences and
u rates, such as competition with other railroads and with
11water routes, the volume and character o f business at dif11feront points, the difference in terminal expenses and the
11cost o f service in each case” Will the reader especially
note the portions of the above we have put in italics.
What could be more liberal than to incorporate in the act
the specifications given— (1) “ Competition with other rail*
“ roads
that would meet every case, Canada rail,
roads as well as home roads, a hole as wide as a barn door
through which any road or any traffic arrangement could
pass ; (2) “ the volume of business at different points ;’
Senator Wilson, of Iowa, must have moved quite ner
vously in his seat just here, as this statement wholly cutg
off his constituents at “ local stations ” which he pleaded for
so forcibly and eloquently on the 22d of December last; (3)
41 the difference in terminal expenses and the cost of ser‘ l vice
taken with the other specifications, what more
could a railroad ask for ? This latter might, to be sure»
encourage indirect and underhand practices, but that of
course was not intended.
But the important incident in the scene remains to be
told. W hile Senator Cullom was thus ruthlessly demolish
ing this clause of the bill, there were other members of the
Senate listening closely who have tended and nursed the
provision in question for months, we might we think say
for years, under the idea that it was a very satisfactory and
effective conceit to compel railroads to care for their con
stituents at “ local stations ” where there were no com“ peting roads ” and where the " volume of business ” was
small. It does not require over much imagination to pic
ture the effect on such, of the words we have quoted and
more like them, converting carefully formed restric
tions into meaningless platitudes. Mr. George, of Missis
sippi, endured it as long as he could, but finally being
able to restrain himself no longer interrupted the speaker,
and the following colloquy took place:—
M r . G eorge —I wish to ask the Senator a question, if he will allow me,
M r . Cullom —Y es, sir.
M r . G eorge —D oes the Senator wish to be understood as saying that
it is the meaning o f this bill that the long and short haul provision does
n ot apply—that is. that the circumstances are not substantially similar,
where one o f the points is a competing point and where one is not 1
M r . Cullom —I mean to say sim ply this : Y ou take one railroad, if
y o u please, between the city o f Washington and the city of New Y o rk ;
thât railroad makes its schedule o f rates, and it publishes under this
bill that schedule o f rates, and so far as its operation of its own road—
n o t in connection with other lines or roads, but on its own road—it is
n ot at liberty to charge more fo r a shorter distance on that road be
tw een here and New York, un dtr like circumstances and conditions
th a n it charges from here to New York.
M r . G eorge —But the point is this : I understood the Senator to say—
and that is what I want to have settled—that if one point from w hich
the shipm ent is made is a com petitive point, either b y having a com
peting railroad or b y having water transportation, and the other point
from w hich the shipment is made is not a com petitive point, then the
Circumstances are not substantially similar ?
M r . Cullom —I do say the facts should be considered.
M r . G e o r g e —Then let me say, that i f I believed that that was the
m eaning o f the bill, and the courts would assent to it, I would vote
against it, because with that construction upon those words the whole
provision in the bill in reference to the long and short haul amounts to
nothing.
M r . Cullom —I f it does not amount to anything it will not hurt any
body.
M r . G eorge —I do not want to hurt anybody, but to save som ebody
b y a substantial provision on that subject.
M b . Cullom —So do I; but I do not w ant to humbug anybody either.
Thé Senate, however, b y a deliberate vote, placed in the bill w hich was
passed b y the Senate during last session these words, “ under like
“ circumstances and conditions,” and did it, the select comm ittee not
having reported those w ords to the Senate in original bill.
73
M r . G e o r g e —I do not object to the words. I objeot to the interpreta
tion whioh you put upon them. I do not believe that is the true and
legal interpretation, and I protest that this bill shall go through here
w ith an authoritative exposition or interpretation of the m eaning of
these w ords given them by the Senator. I f that be the meaning I am
against it.
Senator*George is certainly both explicit and emphatic
in his rejection of the interpretation Senator Cullom in
this part of his speech puts on this clause. It will be
seen that he goes so far as to assert that if he “ believed
“ that that was the meaning of the bill, and the courts
“ would assent to it, he (I) would vote against it.” Again
he states, “ I do not object to the words. I object to the
“ interpretation you put upon them. * * * If that
t‘ be the meaning I am against it.” \Ye quote this un
qualified protest to show how very differently those among
our law-makers who are working and voting for the bill
view this section.
Senator George too represents the
opinion of a large class of the advocates of the measure,
and if a court in passing upon it were in search of evi
dence as to the intent of the legislators to help the court
in interpreting the letter of the law, there is no reason to
suppose that Senator Cullom’s view would be followed in
preference. Furthermore we cannot think that the law
as it stands favors Senator Cullom’s interpretation, or
that it would be acquiesced in by one out of a hundred of
the lawyers of the land. Even his own speech has in it
many assertions and sentences, besides his admission to
Mr. Hoar, which are very difficult to reconcile with the
general principles he finally lays down.
The conclusion of the whole matter is then, by all means
let the bill be amended and its intent be made plain.
Probably before this is read the Senate will have voted
on the measure, but even if so, it will still remain for the
lower House to take action. Do not needlessly fasten upon
the country a mass of litigation involving our entire carry
ing interest and running perhaps through years, to be all
the time a disturbing element affecting every industry.
That there is doubt how the courts will interpret it
even the Senator from Illinois admits at the outset of
his remarks. He showed too in his colloquy with Sen
ator Hoa’r that at least at that moment he himself held
a very different opinion about its meaning from the
opinion he held later on in his speech. Finally, Senator
George and those who think with him claim that the pur
port of the section is not at all what Mr. Cullom claims,
but something far more radical and disturbing. Can
there be any doubt then, with such differences with regard
to a matter involving so many and so great risks— can
there be under such circumstances any doubt as to the
course which a wise and cautious statesman should adopt ?
B ISM A R CK 'S SPEECH A N D T H E E U R O P E A N
OUTLOOK.
The debate in the German lieichstag on the Arm y Bill,
the vote adverse to the Government, and the immediate
dissolving of the Reichstag, have furnished the exciting
topic of the hour. It is but seldom that such a spectacle
is presented in any Parliament— the greatest general and
the greatest statesman of the empire imperiously calling
for an addition of forty-one thousand men to the army,
and for a period of seven years. In any circumstances,
such a call made in the interest of a military power already
so strong as Germany is, would tend to inspire uneasiness.
But in the present peculiarly excited, even feverish, condi
tion of European affairs, when all the great nations are so
fully armed, and when dangerous war complications
already exist, such urgency as that exhibited by Y on
Moltke and Prince Bismarck is especially fitted to excite
fears.
74
THE CHRONICLE.
The truth is, the Government measure is most unquestionably of a warlike character.
W ith the addition of
forty-one thousand men to the already powerful army, and
with a guarantee that this additional strength should be
continued undisturbed for a period of seven years, the
German Government might not he more aggressive,
but it would be in a position to be more fearless >
more defiant than ever.
Besides, the distinct and
unmistakable utterances of both the soldier and the
statesman leave no doubt as to the cause or causes which
have, as they claim, necessitated this demand for to large
an increase to the forces of the German army. It is due
to the attitude which France has been more recently
maintaining, and to the language of the French press, and
of some leading French statesmen. W hile the French
army has been undergoing certain radical changes, and
notoriously improving at once in strength and efficiency,
there has been pretty incessant remarks about “ revenge”
and “ the recovery of Alsace and Lorraine.” Nor, in any
attempt to take in the full measure of the present situation,
ought it to be forgotten that General Boulanger had for
months been insisting upon a large additional allowance
for military expenses— a demand which latterly was con
siderably modified, but which on the same day these two
speeches were made took the Bhape of a military credit
for more than $17,000,000.
It remains to be seen how
France will act under the new circumstances— whether
she will follow the example ol her northern neighbor and
make further additions to her already large and burden
some armed force. For although Bismarck’s proposal was
defeated it was only in limiting the duration of the bill to
three years.
It is not wonderful, in view of these conditions, that
opinion should be divided as to the probable result of the
action of the German Government, and even as to the
actual intent of Bismarck and his colleagues. W e are
reminded of the course which was followed in the Prussian
Landtag in the spring of 1866, preliminary to the out
break of the war with Austria, and again in 1870 prior to
the outbreak of war with France.
There was the same
urgency— the same entreating, the same threatening.
Sadowa was the result in the one case ; Sedan was the
result in the other. That the parallels are suggestive no
one can refuse to adm it; and it would not certainly be
difficult for Prince Bismarck, if he wished for war in the
poming spring or summer, to find at once the occasion and
the opportunity. It is exceedingly unpleasant for any one
to know that his neighbor hates him, and to have it from
his own lips that he but waits a suitable opportunity to
attack him. It is the more difficult to be patient in
such circumstances when a blow might render the enemy
powerless for harm. Such is Germany’s present relation
to France. Cause for war would not therefore be far to
seek. And as to opportunity, Prince Bismarck might easily
convince himself that, with Russian friendship “ beyond
“ all doubt,” and “ a degree of intimacy and mutual confi“ dence existing between Germany and Austria such as
« never existed during the period of German federation,” a
more favorable opportunity for finally settling matters
with France would never again present itself. A ll this is
plausible enough argument and a possible course of events.
But it is a course which we are not justified to expect from
the actual facts as now presented.
The situation to-day is a very different situation from
that which existed in the early part of 1866 and in the
early part of 1870. The Schleswig-Holstein difficulty
had begotten a situation in 1866 which apparently made
war a necessity in order to determine the question whether
Austria or Prussia should rule in Germany. In the spring
[VOL. XLIV.
of 1870 war with France was already a foregone conclu
sion. It was not courted by Germany— it was forced
upon her. Such a war imperilled all that had been done
since Sadowa. Besides, the time had come to complete
the work and to proclaim the Empire. There is no such
situation to-day. On both the former occasions Prussia
had much to win, if she had something to lose. To-day
she has nothing to win. She has no desire to appropriate
French territory. It would be no gain to her. This is in
perfect accord with the language used by both Moltke and
Bismarck. It was because the German Government
wished to keep the peace that the Army Bill was pressed.
“ If this measure is rejected,” said Moltke, “ war will
“ surely come ;” and Prince Bismarck reiterated the sen
timent in favor of peace. “ Germany will never begin
“ war with France— there can be
no
question
“ about our attacking France ; but we must protect our“ selves against attacks. Under no circumstances shall we
«‘ attack France; but we shall always be compelled to arm
“ ourselves in such a manner as to be equal to the contin“ gency of war.” In connection with these utterances must
be taken what Bismarck says regarding Russia, Austria
and the Bulgarian difficulty. There is no cause, says Bis
marck, for apprehending serious difficulty in the East.
“ What is Bulgaria to us?” But the friendly relations
said to exist between Germany and Russia on the one
hand and Germany and Austria on the other would seem
to imply that however the Bulgarian question may be
settled, Bismarck has so arranged matters that the settle
ment will not lead to war between Austria and Russia.
“ The chief danger,” the Chancellor says, “ lies westward."
On the whole, therefore, in spite of certain warlike
appearances, we are disposed to look hopefully on the
present situation. W e are willing to believe that danger
lies more in the West than in the East; and we are willing
further to take Prince Bismarck at his word that if war is
precipitated, it will be the fault of France rather than
the fault of Germany.
R A IL R O A D
E A R N IN G S I N D E C E M B E R A N D
TH E Y E A R 1886.
The December statement of earnings is an excellent one,
only 22 out of 97 roads falling behind their totals of a
year ago, and the net increase on the roads reporting
reaching nearly 2% million dollars. As all other recent
statements have been of the same favorable tenor, it may
be said that the December exhibit is illustrative of the char
acter of the returns almost through the entire twelve
months.
The year 1886 has indeed been a strikingly good one.
The reasons are obvious, the two conspicuous facts con
tributing to this result being the higher tariffs in force
and the revival of activity in all departments of trade. A s
to the higher rates, this was a special favoring circum
stance not only to the trunk lines and their connections,
but to nearly all roads in the country wherever situated,
for the West Shore settlement and the peace era it inau
gurated influenced managers everywhere to pursue the
same policy. In regard to the revival of business that
followed, it is hardly possible to estimate the extent
to which increased business activity has contributed to
swell railroad receipts.
W e see
illustrations in
special departments, such as is
offered
by the
figures of iron and steel production, or by the
great demand existing nearly everywhere for bituminous
coal, which latter is so largely used for manufacturing
purposes. The increased tonnage arising from the one
or the other of these sources has been sufficient in certain
cases to turn non-dividend paying stocks into dividend
January
15, 1887.]
THE CHRONICLE
75
payers (the gains on account of the ore traffic being
Mileage.
Earnings.
Increase or
Period.
especially heavy), and in other cases to transform defaulted
Decrease.
1886.
1885.
1886.
1885.
securities or those of doubtful merit, into investments of
Miles.
Miles.
$
$
$
(64 roads)..
45,906
44,683
13,553,048 14,565,336 Dec. 1,018,338
a very promising character. But while in such instances January
February (66 roads).
49,389
48,299
16,082,394 14,852,151 Tno. 1,230,843
we have direct evidence of the effects of the recovery in March (63 roads).... 47,069
45,974
17,955,075 17,747,728 Inc. 207,347
April (67 roads)........
48,898
47,710
17,488,081
17,306,549 Inc. 175,533
business, and of the roads benefitted thereby, there are May (63 roads)......... 47,355
46,085
17,070,179 16,417,538 Inc. 652,647
45,775
20.051,630 17.992,640 Inc. 2,058,990
very many minor ways in which railroad traffic has been June (60 ro&ds)....... 47,403
July (68 roads).......
49,651
48,133
22,885.356 19.578,034 Inc. 3,247,888
increased by the same agency. Better business means a A uk- (73 roads)....... 53,887
51,168
24,939,906 21,190,661
3.749.245
September (77 roads)
55,897
53,095
87,931,707 85,049,876 Inc. 3,832,431
larger interchange of commodities, increased consumption of October
(88 roads)...
58,579
56,870
31,789,490 a0,008,853 Inc. 1,786,637
goods domestic and foreign, an augmented demand for all November (85 roads) 57,699
55,187
39,194,343 *7,242,805 Inc. 1,952,138
December (97 roads)
60,609
57,817
29,161,051 6,727,786 Inc. 2,433,865
articles, larger passenger traffic, &c., &c. \Ve mention this
as showing what an important factor in the reports of im.
W ith the month of J une a decided change for the bet
proved earnings so generally shown all over the country, ter occurred, as will be seen, the total increase then reach
this influence must have been.
ing over two million dollars. New York Central was
Though the returns for December and the months pre' included for the first time, and of course helped to swell
ceding have been so favorable, the statements have not all the gain, but apart from that the increase was much the
been favorable from the beginning to the end, nor heaviest for a long time past. The gain was the more
the year been without adverse elements.
It opened noteworthy that it was made in the face of a passenger rate
promisingly enough, but a serious drawback was war in the Northwest extending all through the month,
encountered in the first month, in snows and winter and of a freight war affecting results during the last ten
weather of unusual severity.
In extent of territory days. Rates were restored on the 20 th of July, and at
embraced, one of the storms at least was almost without a the same time the movement of winter wheat was large,
parallel, for it affected even the remote sections of the contrasting in this respect sharply with the poor move
South Florida and Texas, for instance, where snow and ment of the previous year.
ice impeded railroad transportation and interfered with
A t this period the situation was this. The strikes had
business generally.
As a result, our January exhibit proved a failure, and business was recovering from
of earnings showed a large decrease. In February this their effects. The iron and steel industries were very
was changed and there was an increase, but chiefly by reason active, and the construction of new railroads was being
of the fact that the weather conditions of February in the prosecuted with unusual vigor. Rates had been restored
previous year had been almost as bad as in January, 1886. in the Northwest, and were pretty firmly maintained all
In March there came the great Southwestern strike over the country. There was a very active demand for
on the Missouri Pacific and its .* connections, and bituminous coal, benefitting all the carriers of it. The
this extended into April, disorganizing the whole crop of winter wheat was large and moving freely, while
trade of that section and reducing the volume of railroad in 1885 it had been small, and the roads in the Middle
traffic on all roads carrying to or from that part of the Western section were consequently receiving a double
country. A t the same time there was an outbreak of benefit— first from the higher rates and secondly from the
labor troubles nearly everywhere, culminating on the 1st enlarged movement of wheat— and showing heavy gains.
o f May in the general strike for eight hours as a day’s It is also a fact that the comparison was with very poor
labor. Not only in throwing a vast body of men out of earnings the previous year, not only on these roads but
employment and diminishing to that extent the aggregate on all others, the depression in earnings and business
volume of the product of labor, were these disturbances having reached its culmination at the corresponding date
decidedly unsettling, but also in making capital timid and in 1885. Further, there was a freer export movement,
discouraging new ventures and undertakings. In April and consequently larger shipments to the seaboard.
there was besides for part of the time a rate war on the Moreover, while in the West the receipts of wheat were
traffic between St. Paul and Chicago.
heavier, in the Northwest there was an augmented move
Under the circumstances, and bearing in mind that the ment of corn. The cotton movement also was above its
grain movement was small during almost the whole of the total of 1885, though being at tha¿ season at its minimum.
first half of 1886, it is not surprising that in March and Under these encouraging influence?, the gain for July
April only trifling gains over 1885 (on the roads as a proved even greater than that for June, and in August
whole) were shown, and that in May, when the operations we had an increase in the extraordinary amount of 3^
o f Southern roads were interfered with by the prepara million dollars, this latter being the best statement of
tions necessary for the change of gauge on the 1st of June» 1886, and the best also for about three years.
the increase should hardly have been much greater. A il
Ia September, the winter wheat movement was no
this time the trunk lines and their connections were doing longer so important an influence, and moreover we were
quite well, but some of the roads in other sections were beginning to compare with more favorable figures in
suffering losses, and hence the aggregate gains were small. 1885. Naturally the increase fell below the extraordii
W ith regard to Southern roads, though they had a nary amount noted for August, but yet reached 21decidedly heavier cotton movement in the first half of million dollars. A feature in both this month and
1886 than in the first half of 1885, all the north-and-south August was the very heavy gains by Northwestern roads S
lines in that section— notably the Louisville & Nashville The spring wheat crop had turned out mdbh better than
and the Illinois Central— felt the absence of the stimulus expected, while at the same time farmers were sending
afforded the previous year by the New Orleans Exposi
their surplus to market with unusual freedom, stimulating
tion, and thus recorded heavily declining earnings. The
of course to a corresponding extent the return move
net result of these various influences was that, however
ment of freight, one effect of this condition of things
satisfactory the exhibit of certain individual roads might
being that much business than usually goes into the
be considered, there was very little comfort to be ex
closing months, this year came much earlier; hence,
tracted from the total for all the roads in the first five
though in August and September there were heavy gains
months of the year, and the following summary of the
in the earnings of Northwestern roads, these were followed
monthly aggregates will make this clear.
in October and November by only less conspicuous losses.
[V ol. XL1V.
THE CHRONICLE.
76
In October, indeed, the upward movement in earnings been no feature of the year more striking than this, as
seemed to have received a check in nearly all sections, the will appear by the following statement, according to which
total increase for the month on the roads reporting the total receipts at the Lake Superior port were over 22
amounting to only 1J million dollars. But this check million bushels in the 52 weeks of 1886, against only 14£
was more apparent than real. Both the switchmen s millions in 1885. With reference to the difference between
strike at Minneapolis and the pork-packers’ strike at the figures here given for Chicago and those further above
Chicago operated to reduce earnings. In November we for the same point, it is to be said that those below have
had a very small hog movement to the "W"estern markets been prepared on a different basis, they covering only 52
this year, against a very large movement in 1885, the even weeks, and, further, all receipts coming from Mil
total receipts standing at 847,714, against 1,019,226, and waukee, and originally counted there, being excluded.
RECEIPTS OF FLOUR AND GRAIN FOR FIVE WEEKS ENDED DECEMBER
there was also a severe storm of snow and wind, but the
31 AND SINCE JANUARY 1.
gain was larger than for October, amounting to nearly
Rye,
Bariev,
Oats,
Com,
Wheat,
Flour,
(bush.)
(bush.)
(bush.)
(bush.)
Cbush.)
(bbls.)
two million dollars. And now for December we have a
Ghicaao—
still heavier gain— 2^- millions, as already stated. The 5 wks.,
70,292
Dec., 1886 645.454 2,883,309 4,189,912 3,195,132 1,541,349
161,107
1.722.279 5.733.648 js.8S0.227 1,654,972
5 wits.. Dec., 1885 349,871 16
923,925
075,471 65.878,139 39,016.303 12,472;480
year thus closes very satisfactorily. If the increase is not Year ’83,52 wks. 4,156,59'
Year ’85, 52 wks. 4,789,246 17’ 171,232 62,459,607 36,976,453 9,657,755 1,804,557
as large in amount as that in the Eummer months, it is to be Milwaukee—
16,060
115.270 244,450 472,280
990,655
Dec., 1886 813.325
33,090
73,420 172,490 562,077
remembered that to some extent the conditions then were 55 wks.,
wks., Dec., 1885 203.654 1,005,692
276,026
718,1501 2,055,822 5,040,083
Year ’86,52 wks. 8.629.179 8,139.989
278,887
633,245 1,658,948 4,675,173
exceptional.
Moreover, the important circumstance is Year ’85, 52 wks. 2,2u0,889 9,4:8,726
St. Louis—
40,772
414,484
466,805
500.112
1,368,050
76.905
also to be borne in mind, that we are comparing with 5 wks., Dec., 1886
46,732
456,178 3,100,210 387.026 756,844
68,902
5 wks.. Dec., 1885
843.429 11.680,780 15.817.212 7.166,789 2,508,650 442,397
Year 86, 52 wks
much better earnings in 1885 than was the case in the Year
705,180
’85, 52 wks 1,017,860 10,046,493 24,781,890 7,058,302 2,980,148
Toledo—
earlier months, and that the advantages on account of the
22,189
27,448
41,749
880,111
769.703
82.508
5 wks., Dec., 1886
6,492
87,400
24,512
457,953
810,834
16,919
5 wks.. Dec., 1885
167,985
higher trunk-line tariff are no longer what they were.
153.277
274,061 12,598.303 5,749,883 707.346
Year ’86, 62 wks
146,197
331,071
531,937
3,447,722
7,938,5701
165,174
Upon the year as a whole the influence of the crops has Year 85, 52 wks
Detroit—
142,087
503,338 112,851
937,685
19.213
Dec., 1886
122.590
of course been different than upon particular months 55 wks.,
181,548
843,962
724.631
16.636
wks.. Doc., 1885
167,941 8,972,5*8 2,046,550 1,895,310 829.527
Year ’86,52 wks.
Here the effects of an early or a late marketing ate not Year ’85,52 wks. 138,813 8,402,026 2,634,27 1,199,633 775,679
Cleveland—
54,609
so apparent, and it is only the totals for the full twelve 5 wks.,
133,500 121,1V
293,480
22,302
Dec., 1886
43,812
94,828 151,293
147,710
23,550
5 wks..Dec., 1885.
05,325
232,872
months we have to deal with. As affording some indica Year '86, 52 wks. 231.64 2,217.896 1,046,748 1.509,130
9,550
934,873 227,169
707,29“
193,636 1,596,703
Year ’85, 52 wks.
tion of the tendency in the Northwest, we give the Peoria—
31,500
76.600|
056,750 700,150
46,250
21,84.
5 wks., Dec., 1886
41,530
84,600
091.535 819,030
17.6501
12,810
following table of the receipts of flour, grain and pro 5 wks.. Dec., 1885
485,985 6,56»,830 12,150,090 617,110 814,400
98,070
Year ’86, 52 wks
362,380 9,509,360 13,283,220 687.590 444,645
143,865
visions at Chicago for December and the twelve months ear ’85,52 wks
Duluth—
2.100,198
wks., Dec., 1886
in each of the last three years.
2.486,850
„ wks., Dec., 1885
Year ’86, 52 wks
“ ear ’83, 52 was
RECEIPTS AT CHICAGO DURING DECEMBER AND THE TEAR.
Jan. 1 to Dec. 81.
December.
1886.
Wheat, busli
Corn., bush.
Oats. ..bush.
Rye....bush.
Barley.bush.
2,683,637
3,981,233
8,009,151
67,102
1,445,051
1885.
1,607,326
5,242,640
2,727.265
147,711
1,532,089
Total grain. 11,180,174 11,257,031
810,008
Flour. ..bbls.
615,991
1,056
22,714
Fork... bbls.
18,441,826
Cut m’ts.lbs. 24.071,8:8
Lard.... lbs. 13,713,825 11,927,425
909,105
830,298
XiivehogsNo
1884.
1886.
1885.
1884.
19.267,678 27,959,346
62,918,729 59,019,879
87,684,973 39,995,078
1,915.103 3,248,7c2
10,781,631 8,656,100
12,970,032 131,990,836 132,568,114 139,379.845
450,399 4,158,010 5,804,728 4,038,385
56,067
41,803
44,420
15,105
23,577,610 164,307,196 161,045,002 126,793,908
8,005,618 87,984.848 64,938,800 58.969,899
098,316 6,718,761 0,937,037 5,351,967
5,251,872
4,472,867
1,814,160
100,886
1,270,847
16,082.118
62.417,136
89,957,505
938,565
12,585,512
*
O
CO •
O
885 are
The differences between 1886 ai
striking as might be supposed. There was a falling ofE in
the receipts of hogs, which had been very heavy in 1885,
but on the other hand there was a decided increase in
lard, and an increase in pork and cutmeats. The grain
movement as a whole did not fall much below the total of
1885 at the same point, but the gain is confined to barley
and oats (benefitting of course the roads chiefly moving
those cereals),while the wheat receipts show a further reducduction after a very heavy decrease in the previous year, so
that the total of wheat in 1886 was only about 16 million
bushels, against nearly 28 millions in 1884. Moreover, the
loss as concerns many of the Northwestern roads is even
heavier than here indicated, for the figures given include
both the winter and the spring variety, while as is known
the winter wheat movement was heavier than in 1885, and of
this kind of lyheat none goes to the Northwestern roads. It
will also be noticed that there has been a contraction of
1,146,000 barrels in the receipts of flour, but as against
this Milwaukee has gained over 1,400,000 bbls., andas most
Northwestern roads carry to both points there has probably
been no loss on that account. On the whole, however, the
roads in this section can not be said to have had much if
anything in their favor from the movement of grain or its
product. It does not follow, however, that the spring
wheat movement fell below a year ago. Chicago has been
-osing much of its wheat to Duluth. Indeed there has
22,045,628
14,598,244
*89,244
86,469
Total of all—
7,346,931 4,883,714 2,728,9171
wks., Dec., 1686 1,131,614 8,533,452 10,995,256
3,202,2951
wks., Dec., 1885 687,3071 0,871,821 8,708,991 4,616,126
3,194,232 2.800,215
1,031.953
12,009,699
wks.. Dec., 1884
9,400,9231 82,222,080 94,921,50' 65,106,790 21,854,005!
61.709,835
19.357,591
8.048,983 69,598.374 101,202,702
rear ’8j, 52 wks 9,518.2601 91,543.583 94,141,61* 63.101.688ll5.276.181'
180,813
288,971
’ 809,183
2,190.058
3,388,416
4.961.491
This shows that Duluth received more wheat than any
)
T------ — o
-
. .
It will be observed that Milwaukee has lost in
is well as Chicago. On the other hand, all the
winter wheat markets have gained, and Toledo preThe latter point also gained in corn, but in
the case of St. Louis and Peoria the falling ofE in that
cereal has been very striking— at St. Louis almost 9 mil
lions and at Peoria 3 millions. This shows that in the
district tributary to these points the roads have had to con
tend with a heavily diminished movement of that cereal.
There is one other important staple to be considered,
affecting a vast body of roads, namely cotton. Here the
port receipts for the calendar year were nearly everywhere
greater than in 1885, Charleston and the Florida ports
being trifling exceptions. The total for the whole South
is over 725,000 bales greater than in the twelve months
of the previous year, as the following statement for
December and the year will show.
variety.
RECEIPTS OF COTTON AT SOUTHERN PORTS IN DECEMBER. AND FROM
JANUARY 1 TO DECEMBER 31, 1886, 1885 AND 1884.
December.
Ports.
Galveston.........bales 155,165
Indiamola, &c..........
New Orleans.............. 429,894
62,285
Mobile....................*•
5,576
Florida.......................
Savannah................. . 147,995
8,484
Brunswick, Ufi........
72,940
Charleston....... . ........
*
2,443
Port Royal, &c.......
27,293
Wilmington...............
1,140
Morehead City, &c..
Norfolk..................... 102,116
67.670
West Point, &c.......
■jiQtaj;................... l,083.00l|
1885.
125,419
396,604
60,109
18,128
126,000
3,430
76,018
5,242
14,628
1,191
110,661
59,716
1834.
1885.
1884.
757,515 614,412 521,963
86,961
10,969
3,513
1,384
410,712 1,731,661 1,578,678 1,525,586
208,655 235,566
248,069
69,475
59,556
69,841
31,534
22,135
182,553 869,475 709,126 721,362
13,909
10,189
27.285
1,140
87,822 448,932 451,575 531,511
7,317
12.254
3,084
19,151
97,756
87,346
16,575 140,708
5,858
10,288
3,618
6.920
479,009 586,055
139,030 597.382
227,772 296,781
70,054 293.603
992,146 1,050.513 5,177,235 4,451,6631 4.625,184
January
THE CHRONICLE
15, 1887.]
W ith this review of the characteristics of the year, the
reader will be prepared to understand the figures given
below of the earnings of each individual road and the
aggregate of all the roads.
GROSS EARNTNGS FROM JANUARY 1 TO DECEMBER 31.
Käme o f Road.
1886.
Buffalo N. Y . & P h il....
Buffalo Rooh. A P itts...
Burl. Cedar Rap. A No..
Cairo Vincennes & Chic.
Canadian Pacific..........
Cp, Fear & Yadkin V al..
Central Io w a ...................
Chesapeake A Ohio.......
Eliz. Lex.& Big Sandy.
Ches. Ohio A S . W ..........
Chicago & A lton..............
Chicago & A tla n tic .......
Chio. & Eastern Illinois.
Chicago Milw. A St.Paul
Chicago A N orthw est...
Chic.St.P.Minn.A Omaha
Chicago & West M ich___
Cin. Ind. St. L. A Chic...
Cin. New Orl. A Tex.Pae:
Alabama Ot. South’ n..
New Orleans A No. E..
Vicksburg A Meridian.
Vicksburg Sh. A P a o ..
Cin. Rich. A Ft. Wayne.
Cin. Wash. A Baltimore.
Cleve. Akron A Col........
bC lev. r o l. Cin. A In d ..
Col. A Cin. M id la n d .....
Col. Hook. Val. A T o l...
Denver A Rio G rande...
Deny. A R. G. W estern..
*Des Moines A Ft.Dodge
Detroit Lansing A N o ...
East Tenn. Va." A G a___
Evansv. A T. H aute.......
Flint A Pere Marquette.
F t. Worth A Denv. City.
Grand Rapids A In d .. ..
Grand Tr. o f C anada...
Gulf Col. A Santa F e___
Houst. A Tex. C entral..
111. Cent. <111. D iv .)___ _
Do
So. Div. . . . . . .
D o Ced. F. A M ...
Do
Dub. A S . C ...
Do
Iow a F .A S .C
Indiana. Bloom . A West.
Indian ap. Deo. A Spring.
Kan. City Ft. S. A G ulf..
Kan. City Sp. A M em ...
Lake Erie A W estern...
Lake Shore A Mich. S o..
Lehigh A Hudson..........
L ong Island.................. .
Louisv. Evansv. ASt.L..
Louisville A Nashville..
Louisv. New Alb. A Chic.
Marq. Houghton AOnt..
Memphis A Charleston..
t Mexican Central..........
■{Mexican Nat. (So. Div.)
Mich. Cent, and Can. So.
Michigan A Ohio .........
M ilw. L.Shore A West’n.
Milwaukee A Northern.
Mississippi A Tennessee.
aMbb le A Ohio.............
ITN. Y . Central A H. R ..
New YorK City A No___
N.Y. Ontario A West’n ..
Norfolk A Western___ _
Northern P a c ific ..........
Ohio Southern....... .........
Oregon Railway A Nav
Peoria Decatur A E v ...
Ricnm ond A D an ville...
Va. Mid. D iv............ '..
So. Car. D iv ..................
Col. A Greenv. Div___
West. No. Car. D iv ....
St. Joseph A Gr’d Isl’ cL.
St.L. A .A T.H . main line.
D o do (branches)..
St. L. Ark. A T exas........
St. Louis A S. Francisoo.
St. Paul A D uluth..........
St. Paul Minn. A M an...
Staten Island Rap. Tran.
Texas A P acific...............
Wabash 8t. L. A P a c ...
Wisconsin Central___ ___
Minn. St. Cr. A W is...
Wisconsin A M inn___
$
2,564,280
1,278.602
2,033,109
655,709
10,050,702
226,700
1,325,966
4,095.167
935,683
1,711.950
8,035,826
1,655,035
1,769,289
24,719,876
25,296,293
6,152,116
1,390,808
2,569,361
2,856,570
1,213,696
661,064
521,197
523,071
333,120
2,005,506
525,027
7,223,384
319,553
2,452.027
6,718.43 ‘
1,051,900
329,632
1,222,160
4.266,882
750,049
• 2,149,629
44 4,12 '
2,078,510
17,147,871
2,288,023
3,077,787
6,680,900
4,08 k,30n
171.600
949,300
635,300
2,542,811
451,901
2,524,380
1,561,416
1,289,786
15,826,616
217,134
2,992,017
852.586
13,999,871
1,912,842
983,218
1,444,434
3,853,413
935,703
12,250,000
224,064
2,322,85?
646.594
441,031
2,086,436
32,651,015
5 45,769
1,331,468
3,232,934
12,309,065
508,758
5,344,000
810,044
4,055,504
1,550,651
776,451
599,649
529,011
1.164,779
1,262,933
800,839
1,820,115
4,860,883
1,522,326
7,393,884
799,521
6,059,370
12.806.316
1,537,763
293.473
352,807
1885.
$
2,416,258
1,265,865
3,093,514
483,825
8,367.218
205,968
1.307,372
3,361,234
706,467
1,571,155
7,993,170
1,346,315
1,673,94?
24,413,273
24,301,059
5,814.810
1,297,301
2,373,467
2,681,547
1,076.186
698,165
486,232
449,580
373,693
1,705.268
493,899
6,411,445
214,767
2,311,004
6,119,054
1,021,089
375,841
1,228,471
4,120.437
727,156
1,946,790
463,627
1,916,144
15,161,807
1.849,429
2,681,520
6,503,113
4,434,815
140,177
911,631
626,523
2,382,920
387,991
2,516,528
1,511,461
1,181,956
14,133,506
180,748
2,842,984
721,001
13,672,044
1,683,428
824,545
1,339,343
3,559,561
715,135
10.707.394
190,308
1,365,277
561,261
476.586
2,206,546
24,495,873
450,133
1,251,396
2,771.125
11,349,699
479,035
5,102,733
733.412
3,971,630
1,556,632
810,906
696,653
476.650
1,097,028
1,269,712
766,316
1,294,833
4,383,106
1,381.212
7,521,138
669,624
5,672,434
11,936,297
1,461,006
183,784
158,074
Increase.
Decrease.
$
148.022
12,737
__...
171.834
1,633,484
20,732
13,594
733,933
229,216
140,795
42.656
308,720
95,347
306,603
995,235
337,306
93,507
195,897
175,023
137,500
$
160,205
37,101
37,965
73,491
9,427
309,236
31,138
816,939
101,786
141.023
599,435
30,811
148.415
22,893
202,339
132,366
1,98 6,061
433,5 ^9
396,267
152,787
31,423
36,669
8.772
159,891
63,910
49,955
107,830
1,693.110
36,386
149,033
131,582
317,827
229,414
158.673
104,586
293.852
220,068
1,542,606
33,756
957,576
85,333
8,155,142
95,636
80,072
461,809
959,966
29,723
241,262
76,632
83,874
4 3Ì209
6,311
19,502
350,515
22,143
of gain in earnings is more than twice the ratio of gain in
mileage. Taking the figures further below for the month
of December, and allowing for the changes in the roads
reporting, we find that the mileage at the end. of 1886
stood at 62,61*8 miles, against 59,896 miles at the end of
1885, which gives an increase of 2,722 miles, or only 4^per cent (the average for the whole year of course would
be much less), while the gain in earnings is over 9J
per cent.
Where the returns are so generally of one character,
it is not necessary to speak of particular roads. W e may
say, however, that while the trunk lines are chiefly dis
tinguished for their excellent exhibits, both the Northwest
and the Southwest systems also make a very good showing,
while particular roads in the South are no less noted for
their improved reports. Indeed, if we have regard to
the special influences at work in those sections, and par
ticularly if in addition we extend the comparison back to
some of the earlier recent years, Northwestern and
Southern lines appear to better advantage (as a whole) than
any otners. Take the Northwestern roads, for instance.
Remember that there was nothing specially favorable to
them on the grain movement, and bear in mind that new
competition has been particularly active in that section, that
the Wisconsin Central (on the extension to Chicago), the
Chicago Burlington & Northern and the Minnesota &
Northwestern, all are new factors affecting results during
1886, and that, notwithstanding all this, the Manitoba and
the Burlington Cedar Rapids & Northern are about the
only ones that fail to maintain their earnings of 1885.
Is not that a gratifying record ? More than that, if we
take the six leading roads in that section from which we
have returns, we find that their aggregate earnings are
not only larger than in 1885, but larger than ever before.
For proof of this remark, examine the subjoined
tabulation.
Roads.
35,555
120,060
77
Burl. C. Rap. & No.
Chic. Mil. & St. P.
Chic. & Northwest
Chic. St. P. M.& 0.
St. Paul & Duluth.
St. Paul Minn. &M
1880.
. 1885.
1884.
1888.
1882.;
1881.
$
$ ,
$
$
$
$
2,933,309 3,093,514 2,796,459 2,816,771 2,800,080 2,259,030
24,719,870 24,413,273 23,470,998 23,059,822 20,380,725 17,025,401
25.296,293 24,801,058 23,491,898 25,024,002 23,977,00s 21,849,207
0,153,116 5,814,810 5,784,933 5,515,285 4,962,200 4,021,901
1,522,320 1,381,212 1,817,114 1,328,537 1,109,840 782,630
7,893,884 7,521,138 8,314,197 8,889,095 8,789,021 4,847,486
Total.................. 68.017,804 00.525,005 65,175,798 00,708,502 02,020,134 50,735,781
The Manitoba and the Cedar Rapids show a falling off,
the latter only slightly. The Manitoba has been subject
to influences special to itself, while the Cedar Rapids has
5,981 doubtless suffered most from the competition of the
34,455
A ll the others show the
97,004 Minnesota & Northwestern.
52,391
largest
earnings
on
record.
The
aggregate of the whole
67,751
6,779 six roads reaches over 68 million dollars in 1886, against
34,523
523,282
66^- millions in 1885, 66f millions in 1883, 62 millions in
477,477
141,114
1882,
and but 50f- millions in 1881. The St. Paul &
127,254
129,897
Duluth
of course has benefitted by the increased
386,886
870,019
prominence of Duluth.
76.757
109,689
Now contrast with this the result on some of the
194,733
leading trunk lines and their connections. On these, as
Total (93 roads)....... 344,352,956<314,288,444 31133591 1,069,079
Net increase_______ ___
30064512
already said, the gains over 1885 are particularly heavy.
» Includes three weens om y o f Deoem öer in each year.
The
following exhibit will show that this has followed
{ Mexican currency. IT Including West Shore in 1S86, but not in 1885.
« For purposes o f comparison St. Louis A Cairo is included in both
simply
from the fact that in 1885 their earnings had been
years since July 1.
b Including the Indianapolis A St. Louis and the Cincinnati A Spring- unusually small. W e confine the comparison to the Lake
field.
A s to the character of this exhibit, only a glance is neces Shore, the Michigan Central and the Alton & Terre Haute
sary to show how very favorable it is. Oat of a total of because we have no others for the requisite number of years.
93 roads there are only 14 that record any decrease, and the
1882.
1881.
1884. 1 1883.
1885.
1880.
Roads.
aggregate diminution on them all reaches hardly more than
$
t
%
I
«
9
3
$1,000,000. On the other 'hand} the gains by the remain, L, Sh. & Mich. So. 15.820,010 14,133,506 14,843,584 Is,513,050 18,225,639 17,971,391
Mich.Cen ACan.So 12,250,000 10,707,391 11,659,077 14,009,707 12,457,991 12,303,591
ing 79 roads reach abopt 31 million dollars, so that there St. Louis A. & T.H. 1,262,933 1,269,712 1,323,9201 1,484,089 1,500,580 1,415,195
is a net increase of over] 30 millions.. To be sure there has T ota l............. 29,339,549 20,110,012 27,826,587|34,007,492 32,190,216 31,090,177
This shows a very large gain over the previous year,
also been some increase in;mileage), but new mileage cannot
be expected to earn much-at first} even as it is, the ratio and a somewhat smaller gain over 1884, but a total about
7
THE CHRONICLE.
4 f millions less than in 1883, and less also than
in 1882 and 1881. If now we bring together a few of the
roads in the middle Western section— that is, in the States
east of the Mississippi and north of the Ohio— we also
get an unfavorable comparison with some of the earlier
years, though in much smaller degree. These are the
roads that gained greatly from the heavier winter wheat
movement, and some of them also had the higher trunk
line rates in their favor, and yet while they all record
larger earnings than in 1885, not one of them touches its
best previous total. Following are the figures.
Roads.
1886.
1885.
1884.
1883.
1882.
1881.
8
Chicago & Alton..
Chicago & Bast.111.
Cin. Ind.St.L.&Ch.
Col. H. Val. & Tol.
Grand Rap., Ind...
111. Cen. (111. Div.).
8,035,820
1,700,289
2,569,364
2,452,027
2,078,510
0,000,900
$
7,993,170
1,673,942
2,873,407
2,811,004
1.940,144
6,508,118
8
8,709,275
1,546,115
2,434.780
1,842,478
2,116,299
0,158,812
$
8,810,010
1,659,257
2,482,824
2,779,382
2,361,605
0,674,708
s
8,215,495
1,784,093
2,570,103
2,886,437
2,260,291
6,959,780
*
7,557,741
1,638,594
2,415,872
2,519,794
1,940,570
6,733,954
Total.................
22,805,840 22,807,264 24,708,381 24.682,199 22,s06,025
western roads, record a larger aggregate than ever before
and this notwithstanding that some of them prove marked
exceptions to the rule. The annexed comparison em
braces nine roads.
Roads.
1880.
$
2,850,509
4,206,882
+3,077,787
4,084,300
13,989,871
1,444,434
2,080,486
3,232,934
4,055,504
1885.
1884.
$
8
2,081,547 2,058,185
4,120,437 3,993,022
+2,081,520 2,547,847
4,434,815 4,320,131
13,672,044 13,002,447
1,339,848 1,428,082
2,206,546 2,160,412
2,771,135 2,711,152
3,971,630
1838.
1882.
1881.
t
IM
1“
ll
$
$
Cin. N. O. & Tex. P.
2,047,344 2,623,995 2,344,669
Bast T. Va. & Ga...
4,144,2*5 3,351,357 2,855,040
Houston & Tex. C.
3,251,875 8,150,517 3,743,055
Ill Cent. (So. Div.).
4,304,930 8,846,984 4,041,185
Louisville & Nash.
14,169,257 12,981,432 11,344,362
Memphis & Char..
1,299,425 1,122,380 1,235,091
Mobile & Ohio*....
2,266,642 2,185,172 2,403,220
Norfolk & Western
2,812,775 2,429,738 2,207,288
Richmond & Danv
3,845,152 8,608,432 3,500,802
’T o ta l............... 39,094,767 37,879,512 37,350,202 88,801,075 85,368.007 83,000,378
' St. Louis & Cairo included after Ju ly 1 in 1886 and 1885, but not in
previous years.
t Not including rents, which in 1885 amounted to
$58,395.
The Norfolk & Western makes perhaps a better showing than any other, but the Cincinnati New Orleans &
Texas, the East Tennessee, the Memphis & Charleston, and
the Richmond & Danville also all have heavier earnings
than in any previous year. W ith reference to the Illinois
Central Southern line and the roads generally that run
north and south to the Gulf, these have had increased
competition to meet (the Louisville New Orleans & T exas
for instance) and have also some of them been harassed
by the action of State Railroad Commissions. It is not
surprising therefore that they appear relatively to less ad.
vantage than the others. As regards the Norfolk & W est
ern, that road owes much of its gain to the development of
the Pocahontas mines on its Cripple Creek extension.
Outside of the roads mentioned, there are only a few
that call for special comment. The gain on the Canadian
Pacific of course is deprived of much of its significance by
the fact of a heavy increase in mileage, and that of the
Northern Pacific is merely a recovery of the previous
year’s loss. The Milwaukee Lake Shore & Western has
derived most of its gain from the activity at the Gogebic
mines. The Denver & Rio Grande and the Rio Grande
Western owe their good results to the industrial revival
in Colorado and surrounding country.
Down in the
Southwest, the St. Louis & San Francisco, the St. Louis
Arkansas & Texas, and the Gulf Colorado & Santa Fe, all
show a striking improvement in their earnings. That
section of the country is developing very fast.
W ith reference to the statement for the month of
December, we have no space this time for any extended
review. In general, the results are not materially differ
ent from those above for the full year. W e would call
attention, however, to the size of our table, it comprising
no less than 97 distinct roads, and covering 60,609 miles
or nearly one half the entire mileage of the country. The
[V o l . X L I Y ,
amount of gain, as already said, is greater than that for
November, and in order that the reader may see what,
kind of a month December has been in other recent years
we give the following summary of results in our usual form
back to 1880. It will be observed that the gain the pres
ent year follows after a gain the previous year, 64 roads
then reporting a total increase of $552,130, and that with
the exception of 1884 December has exhibited an increase
in every recent year.
Mileage.
Period.
Dec.,
Dec.,
Dec.,
Dec.,
Dec.,
Dec.,
Dec.,
1880 (48 roads)
1881 (55 roads)
1882 (63 roads)
1883 v57 roads)
1884 (09 roods)
1885 (04 roads)
1880 (97 roads)
Earnings.
Tear
Oiven.
Tear
Preceding.
Tear
Given.
Miles.
83,707
41,794
47,336
40,837
52,867
40,772
00,009
Miles.
28,879
80,780
43,387
42,750
51,091
45,685
57,817
$
17,448,130
21,593,590
23,573,879
21,022,350
22,081,192
19,883,941
29,101,051
Tear
!Preceding.
Increase or
Decrease.
t
15,001,543 Inc.
17,508,783 Inc.
22,170,005 Inc.
20,243,083 Inc.
22,718,080 Dec.
19,331,811 Inc.
26,727,786 Inc.
$
2,440,593
4,027,807
1,403,814
779,273
80,888
552,130
2,433,205
The general influences at work were much the same as
in the months preceding, business being active and large,
and rates well maintained. The cotton movement was
heavier in the aggregate than in December of the previous
year, but that was not the case at some of the Atlantic
ports, notably Charleston, Port Royal and Norfolk, and
this perhaps explains why the roads in the Richmond &.
Danville system did not maintain their earnings for 1885
in this month. The wheat movement was heavier nearly
everywhere (Milwaukee and Daluth however being excep
tions), but as against this there was a very decided falling
off in corn— much greater than the gain in wheat— and
the receipts of barley also were smaller. In flour there
was a very heavy increase. The provision movement like
wise was greater, but the receipts of live hogs were
smaller than in 1885. There was an advance on the
20th in the east-bound through rate to the basis of 30
cents on grain to New York, but it does not appear that
all the roads adhered to the advance. Following is our
usual detailed statement showing the earnings and mileage
of each road.
GROSS EARNINGS AND MILEAGE IN DECEMBER.
Gross Earnings
liante o f Road.
1836.
1885.
$
$
190,200
204,516
132,497
122,554
306.779
266,90£
60,165
48,714
883,00c
729,935
20,817
17,865
127,845
127,497
339,300
314,195
79,000
57,732
165,500
147,536
713.672
703,926
182.543
129,491
170,375
164,065
2,250,000 2,336,256
2,122,000 1,971,397
560,200
465.811
99,642
104,545
259,498
258,099
214,778
205,706
267.069
261,716
128,014
115,700
82.451
82,699
67,309
74.105
77,409
70,926
34,492
30,779
177,129
160,924
40.855
37,893
29,047
27,296
243,557
209,416
615,626
504,179
90,500
74,236
25,559
28,421
98,181
97.538
404,239
408,554
61,537
57,078
191.305
177,591
122,022
112,415
44,954
33,361
134,374
150,593
1,425,83^ 1,257,073
234,689
200,732
369,144
356,051
579,389
573,601
502,372
552,860
12,447f
15,454
79,7431
87,367
59.0541
57.860
Mileage.
Increase or
Decrease. 1886.
$
Buffalo N .Y .& P h il..
—14,316
663
Buff. Rocli. & P ittsb..
+9.913
294
B url.O d.R ap. & No..
+39,870 1,006
Cairo Vine. & O h io...
+ 11.451
265
Canadian Paeiflo.......
+133,065 4,346
Cape F ’r & Yadkin V.
+ 2,952
173
Central Io w a ..............
+343
511
Chesapeake & Ohio..
502
+ 25.105
Eliz. Lex.& Big San.
+21,263
139
Ches. Ohio & So. W ...
+17,914
398
Chicago & A lton.........
+ 9,746
849
Chicago & Atlantio ..
+ 53,052
268
Chic.& Eastern 111....
+ 6,310
251
Chic. Mil w. & St. Paul.
—86,256 5,131
Chicago & Northwest.
+ 150,603 4,101
Chic. St. P.Minn. & 0 .
+ 94,389 1,339
Chic. & West M ich ....
—4,903
413
Cin. Ham. & Dayton.
354
Cin. Ind. St. L. & C h..
+ 9,072
342
Cin. N.O. A T e x .P a o ..
-j-5,353
336
Alabama Gt.South,.
+12,314
295
N.O. & North East..
—248
196
Vicksb <fc Meridian.
- 6 ,7 9 6
143
Vicksb. Sh. & P ao..
170
+ 6,483
Cin. Rich. & Ft. W . .
+3,71d
86
Cm. Wash. & B alt___
+ 16,205
281
Cleve. Akron & C ol...
+ 2,962
144
Col. & Cin. M idland..
+ 1,751
70
Col. Hock. V. & T ol..
+34,141
324
Denv. <& Rio Grande.
+ 111,447 1,317
Denv. & R io Gr. W ...
+16,262
369
*Des Moines & Ft. D ..
—2,862
143
Detroit Lans’g & N o..
+ 593
261
East Tenn.Va. & G a ..
—4,265 1,098
Evansv. & T. H aute..
+ 4,459
146
Flint & Pere Marq .
+13,714
361
Fla. Ry. & Nav. C o ...
+ 9,607
534
Ft. Worth & Denv. C.
+ 11,593
163
Gr. Rapids & Indiana,
+33,781
396
i Grand Trunk of Can.
+ 168,763 2.924
Gulf Col. & Santa Fe.
+33,957
729
Houston «fe Tex.Cent.
+ 13,093
520
111. Cen. (111. D iv .)....
+ 5,788
953
Do (So. D iv.).......
—50,488
71l|
D o Ced. F. & M ...
—3,007
75 (
Do Dub &S. C ..
—7,624
143
Do I. F. & S. C ...
+ 1,194
184
* Includes three weeks only o f December in each year,
t For four weeks ended January I.
1885.
663
294
990
265
3,500
155
490
502
139
398
849
263
251
4,933
3,920
1,325
413
354
342
33 6
295
196
142
170
86
281
144
70
324
1,317
368
143
261
1,098
146
361
534
148
396
2,918
590
520
95 3
711
75
143
184
J anuary 15, 1887.
THE CHRONICLE'
Gross N am ings.
Name o j road.
1886.
1885.
$
$
Ind. Bloom. & W est..
209,973
234.259
Ind. Decatur & Sp___
55,374
43,328
Kan. C. Ft. 8. & Gulf.
220,794
202,537
Kan. C. Sp. * M em ...
164,123
131,779
Lake Erie & Western.
109,355
109,523
Lehigh & H u d so n ....
20,743
19,319
Long Islan d ...............
184,223
179,603
Louisv.Evans.&St L.
67,300
68,715
Louisville & N ash v... 1,275,720 1,164,212
Louisv.N. Alb.& Chic.
141,792
155,595
Manhattan Elevated.
690,000
630, COJ
Marq. Hough. & O n..
31,936
28,659
M em p h is* Char’ ton.
177,593
158.913
{M exican Central . . . .
436,690
346,697
{M ex’n Nat. (Si>. Div.)
93,215
75,572
Michigan & O h io.......
20,332
21,867
Milw. L. Sli. & W est..
172,275
107,248
Milwaukee & North..
56,904
46,826
Minn. * N orthwest..
25,991
66,691
Miss. & Tennessee . . .
58,581
64.774
«M o b ile * O hio........
306,686
306,124
ITN. Y .C ent.* Hud.R. 2.945,063 2,310.184
N. Y . City & North’n.
44.352
36,756
N.Y. Ont. & West’n..
96,792
96,770
Norfolk * W estern...
248,213
228,993
Northern Pacific. ..
879,778
775,371
Ohio Southern............
32,839
53,084
Or. R ’y & Nav. C o ...
401,500
492,450
Peoria Dec.&Evansv.
74,895
61,294
Rich. & DanviUe.......
335,464
348,132
Va. Mid. D iv ...
121.729
124,160
So. Car. D iv............
64,420
76,349
Col. & Greenv. Div.
54,188
75,734
West. No. Car. D iv.
40,420
39,574
Wash. O. & W.........
9,910
7,726
St. Joseph & Gd. I s l ..
104,330
102,320
St.L. A..* T.H. m.iine.
108,317
112,950
Do
(branches).
87,230
72,284
St. Louis Ark. & T e x ..
230,651
169,495
St. Lou is * San Fran..
472,602
372,542
St. Pa a] & Duluth___
123,266
119,4 >0
8t. Paul M in n .* Man
687,010
686,850
Staten Island Rap.Tr.
44,592
41,637
Texas & Pacific.........
699,237
769,237
Tol. A. A, & N. Mich.
41,353
29,319
Toledo & Ohio Cent...
93,527
69,810
Wab Si. ijouis<fe Pac. 1,141,320 1,071,792
Wisconsin Central . ..
141.987
117,990
Minn.St.Cr’x & Wis.
30,951
19,491
Wis. & M inn............
54,793
15,065
Mileage.
Increase or
Decrease. 1886.
$
—24.286
+ 12,046
+ 18,257
+ 32,349
—168
+ 1,424
+ 4,62 0
—1,415
+ 111,508
+ 13,803
+ 60,0u0
+ 3,277
+18,660
+ 89,993
+ 17,643
—1,535
+ 65,027
+ 10,078
+ 40,700
—6,193
+562
+634.879
+ 7,596
+ 22
+19,220
+ 101,407
—20,245
—90,950
+ 13,601
—12,668
—2,431
—11,929
—21,546
+ 846
+2,214
+ 2,01 0
—4,633
+ 14,946
+61,156
+ 100,060
+ 3,366
+ 180
+ 2,955
+ 70,000
+ 12.034
+ 23,717
+ 69.528
+ 23,997
+ 11,460
+39,728
532
152
389
2S2
386
63
354
253
2,023
520
32
160
330
1,236
350
133
573
220
109
100
687
1,463
54
321
525
2,892
128
742
254
774
355
373
296
290
50
252
195
188
735
877
225
1,633
21
1,487
170
213
2,069
441
107
176
1885.
532
152
389
282
386
63
S54
253
2,023
477
32
160
330
1,236
311
133
551
220
109
100
687
993
54
321
503
2,691
128
685
254
774
355
373
296
274
50
252
195
138
735
815
225
1,475
19
1,487
100
213
2,069
441
107
54
Total (97 roa d s).. 29,161,051 26,727.786 + 2,433,265 60,609 57,817
1 M exican currency.
a Including St. Louis & Cairo in both years.
If Including West Shore in 1886, but not in 1885.
[Tables o f net earnings usually following at the end o f
this article will be published next week.]
T H E W E A L T H OF M ASSACH U SETTS.
The public statistics of Massachusetts are always inter
esting, because they refer to a peculiarly interesting
community, and because they are usually so thoroughly
and intelligently collected and arranged that they really
form a reasonable and sufficient basis for tri stworthy
deduction. The old commonwealth sometimes gains and
sometimes loses in popular estimation and comparison by
the excellence and completeness of its statistics. Thus,
when one examines such returns as those of crime, pauper
ism and vital statistics, one gets an accurate idea of the
social condition of Massachusetts; but it would give a
very erroneous impression of the extent of pauperism in
that State were a comparison to be made with the incom,
plete returns of most of the States. On the other hand
in all matters relating to property the comparison would
no doubt exhibit Massachusetts as a much more wealthy
State than it really is ; although it is certainly entitled to
rank among the very first in respect of the average wealth
of each inhabitant. For not only do the tax and valua
tion laws of Massachusetts require the assessment of
property up to its full value, but there is an inducement
for assessors to conform strictly to the law, and to dis
cover and enter every piece of property owned by citizens
or non-residents.
In drawing attention to some figures relating to the
wealth of Massachusetts we therefore avoid any attempt
to compare it with that of other States, and treat it as it
is in itself. The total assessed valuation of the State at
the date of the last assessment, May 1, 1886, was $1,847,531,422. This was an increase of 65 millions over 1885
and was the largest aggregate valuation ever reported.
That of 1875 was 1,840 millions, but values were estimated
in greenback money, which was then at a large discount.
79
From 1875 there was a steady decline until 1879 when
the valuation had dropped to 1,529 millions ; and since
that year the advance has been uninterrupted to the pres *
ent time.
The total value of property In May last was made up as
follows :
Personal estate.......................................................................
$507 037 749
Real estate—B uildings................................ $752,6 99,ob i
’
’
L a n d ....-................................. 587,824,671— 1,340,493.67»
T otal.......................................................... ........................... $1,847,531,422
It is to be noted that personal estate increases apparently much more slowly than real estate, but the appearance
is of course due to the steady conversion of the former
into the latter. This is the first year that the value of
land and buildings has been returned separately. In time
this division will afford some interesting facts for study.
To return to the matter of personal estate, its increase
since 1861 has been only sixty per cent, and it was larger
in 1872 than it is now, after making allowance for the
difference between the gold and the paper dollar. It is
now only nine millions more than it was in 1881. Real
estate, on the other hand, has shown a strong and steady
growth. The decline after the panic of 1873 did not begin
until 1876 and was over in 1879.
Closely connected with this matter of valuation are the
subjects of taxation and indebtedness. In May last the
taxes assessed under State authority for all purposes, upon
all the cities and towns in the commonwealth, aggregated
$26,701,437. A little more than one million of this
amount was assessed upon polls, but, disregarding this
fact, the tax amounted to an average of $14 45 upon each
$1,000 of property, or 1-445 per cent. On the 1st of Jan
uary, 1886, four months earlier, the aggregate net debt
of all the cities and town (deducting sinking funds only)
was $63,306,213, being 3-55 per cent of the valuation.
From this statement we see that the accumulated property
of Massachusetts subject to direct taxation amounts to
almost exactly $1,000 for each inhabitant, who pays $14 45in taxes, and is burdened with a municipal public debt to
the amount of $35 50.
These figures do not show the exact truth in regard to
the wealth of Massachusetts’ citizens, because on the one
hand the real estate of non-residents is subject to tax—
not a large amount of land or buildings is owned by non
residents— and on the other hand the capital of corpora,
tions having a Massachusetts charter, in excess of the
value of real estate and machinery owned by them, is
taxed directly by the State, as are also all the deposits in
Massachusetts savings banks. The first of these two items
amounted, last year, to 139 millions, and the second to 275
millions. The grand total of accumulated property is
therefore something more than 2,250 million dollars, plus
a certain amount which the owners have succeeded in
concealing, plus also the value of property held by reli
gious, literary, benevolent and other societies, exempted
from taxation (about 70 millions), minus the value of
real estate owned by non-residents.
As we have said* more than once before, Massachusetts
is peculiar in having many centres of growth. Lynn,
Lowell, Boston, Fall River, Fitchburg, Worcester, Springfield and North Adams represent ganglia scattered all
through the body of this commonwealth, connected by
railroads. It is no doubt due to this circumstance that
the growth of the State in wealth is so uniform in all parts
of the State. Comparing 1886 with 1881, there is not a
single county in the State in which the assessed value of
real estate did not increase in five years. This is true of
the hill counties in the west and of the sandy “ cape,” as
well as of the busy manufacturing counties of Essex,
Middlesex and Bristol. Indeed one cannot help being
THE CHRONICLE
80
•surprised at the sustaining power of the fishing communi
ties of the coast and of the farming towns in the interior.
Only two towns in Barnstable County, Cape Cod, show a
smaller value of land and buildings in 1886 than in 1881.
The struggle is much harder for the barren hill-tops of
Berkshire and Hampshire; but. wherever the railroad
influence reaches, and in the neig hborhood of either of the
centres of which we have spoken, the value of the property
remains fixed or increases, even in spite of a declining
population. Take as unpromising a group of towns as
can be found in the State— on the border between Berk
shire and Hampshire— the towns of Plainfield, Cummington, Worthington, Savoy, Peru, Windsor and Goshen.
No railroad touches either of them, and in five years the
number of taxable polls in the seven towns has decreased
from 1,179 to 1,115. Yet the decrease in the value of
real estate in them all has amounted to only $35,453.
The growth of the cities, on the other hand, has been
wonderful, and there is a large group of towns, all of
which are rapidly nearing the point of becoming cities,
which they cannot do under the Constitution of Massachu
setts until they have 12,000 inhabitants. Compare the
real estate values of 1881 and 1886 in a few of the cities.
1881.
B oston.........................................................$155,388,600
L ow ell.......................................................
29,627,047
W orcester.................................................
32,065,700
F all Ri ver.................................................
23,918,450
Cam bridge................................................
38,691,900
L y n n .........................................................
19,036,008
Springfield................................................
23,795,920
B rockton...................................................
5,532,712
1886.
$517,503*275
38,816,075
41,055,350
26,899,125
44,955,200
23,394,906
27,63«,760
11,597,905
There is one new return in the statistics of this year
which deserves special mention. It is a return of the
number of taxpayers, distinguishing between those who
pay a poll-tax only— the poll-tax is assessed upon every
male person twenty years old— and those who pay a tax
upon property. The aggregate is 688,348, of whom 358,470 pay only the poll-tax, while most of the 331,028 who
pay a tax upon property are also assessed for a poll-tax.
The total number of male polls assessed is 533,595. Now
as personal property and income to the extent of $2,000 is
exempt from taxation, it may be fairly presumed that a
considerable majority of all the men in the State have
enough property, counting savings bank deposits which
are otherwise taxed, to amount to $2,000. It is worth
noting, too, that in several of the rural counties the prop
erty owners assessed outnumber the poll-tax payers.
This is the case m Barnstable, Berkshire, Dukes, Frank
lin, Hampshire, Nantucket, Norfolk and Plymouth ; while
in Bristol and Worcester the numbers are nearly even.
This leaves but four counties in the State where there is a
large excess of poll-tax payers : Essex, Middlesex, Hamp
den and Suffolk. Indeed, outside of Suffolk there is an
excess of property taxpayers in the whole State.
F A IL U R E S IN 18S6.
The cashier of a leading bank writes us as follows under
date of January 10:
M r . E d i t o r : — In addition to the reasons for failures given
in your article “ Failures in 1886” in your issue of January 8,
m ay not this one have been important: During the period of
low rates for money and the great abundance of loanable
funds, houses find it easy to borrow, and extend accordingly,
transacting an immense business on capital borrowed at low
rates. W h en the money squeeze came it cost more to borrow;
paper was more carefully scrutinized; therefore it was not so
easy to borrow even at higher rates, but by reason of the infla
tion it was just as necessary for the house to borrow or sacri
fice its merchandise. In many cases this latter could not be
done, and an assignment follows. In one instance which feli
under the writer’s notice a firm owed bills and accounts pay
able, $ 1
00 i
ad stock on hand $500,000, and claimed
only $111,000 working capital. They had found it easy to
[V O L . X L T V .
borrow at 4 ^ per cent all the money they wanted.
H ad
been in business successfully, and in high credit many years.
I think the above outlines one of the chief causes of failures
in 1886 and the chief danger in buying commercial paper now.
Yours tr u ly ------ .
©ommercial gtxfllislx fjtews
[From our own correspondent.I
L o n d o n , Saturday, January 1, 1887.
Sharp wintry weather, the holiday season and political
anxieties have proved to be an aggregation of circumstances
too powerful to admit of any change in the commercial posi
tion. The business of the pa3t week has been of a meagre
character. On the one hand labor has been inclined to desport
itself and enjoy its holiday relaxation. On the other, capital
has been desirous to examine its productive powers for the
past year, and to estimate its chances of a more profitable
utilization during the New Year. That trading operations
should, therefore, have been comparatively quiet, is no matter
for surprise.
Financially we have experienced the pinch
usual at the close of the year, but this time accentuated by the
strength of the demand for advances on account of Stock E x
change speculations. Such have been the events of the week,
and although the latter have caused uneasiness amongst the
speculative fraternity, nothing has really occurred to create
apprehension as to our commercial position.
But we are now more interested with the future than the
past. W e are not so much concerned with what we have gone
through as we are with what we are likely to encounter during
the New Year. And what is the prospect ? The generality of
anticipations favors the belief in a more distinct trade revival
than we have yet entered upon, and it is maintained that the
only obstacle to the realization of the hopes entertained is the
polititical incertitude which hangs like a drag upon, and pre
vents the free movements of, the wheels of commerce. U n til
one of the great European powers sets the initiative of dis
arming, this drawback will always prevail, and it is to be
regretted that there are no signs of any such action being
taken, notwithstanding that the Continent generally must be
groaning under the intensity of a taxation necessary to have
an enormous force immediately available for any sudden
emergency.
The waste of resources from this cause is
lamentable, but at the same time it is very clear that it is an
evil which will have to be endured. Meanwhile sanguine
spirits are nofr without hope that the New Year’s course, if
peace only be maintained, will run smoothly with us. Some
even go so far as to imagine that we are likely to have a
“ boom.” A more jubilant feeling is certainly animating the
iron and steel industries, and the textile manufacturers are
becoming more hopeful. It would, however, be wise to
recommend moderation in estimating future prospects. Busi
ness is improving, and of that there can be no doubt, but if
its extension is to be effected without the aid of speculative
influences, the rapid development calculated upon can hardly
take place. However we are content with the opinion that
1887 will prove to be more profitable commercially and finan
cially than the year just expired.
Money has been much wanted during the week. Apart
from the usual inquiry on account of the close of the year
there has been a strong Stock Exchange demand to satisfy. The
pressure this settlement has been very severe. Even on good
English railway security from 10 to 12 per cent has been asked
and obtained. The
here has been very little money
available for the moment. Those who had it were anything
but willing lenders, and the pressure on the Stock Exchange
was so great that had it not been for assistance the diffi*
culties experienced in arranging the account would have been
much greater. As it was, four failures were announced. H o w
ever, we may now be said to have passed through the worst
financially. In a few days the dividend money will come on
the market, and there should then be a return of ease, but this
cannot be otherwise than short lived. A large proportion of
the dividend money must have been forestalled. Repayments
of loans to the Bank of England t|.nd to other lenders have
to be carried out, and whea they have been completed
it is doubtful whether there will
be
much surplus
money left. A t that time, also, the revenue collections will be
beginning to tell upon the market, so that apart from any
possible revival of the demand for gold for export, there w ill
THE CHRONICLE.
J a n u a r y 15, 1887. J
be sufficient to insure steadiness to the market exclusive of
any aid which may be afforded through an extension of the
trade demand. It is evident that the time for cheap money
has passed. The average Bank rate for the past year was
3*57 per cent, against 2 92 per cent in 1885, and it is very pos
sible that 1887 will show as high an average over 1886 as 1886
had shown over 1885. The weekly Baak of England re
turn shows some important variations but not more than
were looked for. The reserve has lost over half a million and
is now £10,133,000, the proportion to liabilities being 35 38
per cent, against 40*21 per cent last week. The stock of bul
lion is £18,820,000. The position of the leading establishment
is far from strong, and it would require very little to make a
fresh advance in the rate necessary.
The rates for money have been as follows :
Interest allowed
for deposits by
Open market rates.
81
of £150,000. The telegraph service has secured an additional
£ 35, 000, and there are gains under the heads of land tax,
house duty and “ miscellaneous.”
Excise has diminished
£65,000 and in interest on advances a loss of £281,324. Th e
return certainly is,a good one, and shows that the improve
ment in trade i / becoming substantial. The increase in the
revenue for the nine months is £1,257,769.
From a return issued to-day it appears that the amount o f
bills and cheques which passed through the Bankers’ Clearing
House during the past year was £5,901,925,000 being an in
crease of £390,854,000 over 1S85. The payments on Stock
Exchange account days formed a sum of £1,198,557,000, beingan increase of £263,473,000 compared with 1885. The payments
on consols account days were £263,497,000, being an increase
of £14,170,000 as compared with 1885. The amounts passing
through on the fourths of the month have amounted to
£215,519,000, showing a decrease of £6,354,000 as compared
with 1885.
Another ecouraging symptom of the improving state of
Three
trade is the condition of the freight market. Messrs. Angiers
Months
Brothers write that the American trade up till October, though
Nov. 26
2 «® large in extent, was carried on at very poor rates, but for the
Dec. 8
3«® “ 10
S«@ last three montt^ssjias drawn a large increase of tonnage a t
“ 17
4«® improved rates, and promises a good field of employment for
4«S the coming spring. The year closes with better prospects for
“ 81
4«» shipping than we have had since 1888. The trade of the world
The following return shows the position of the Bank o f
shows unmistakable signs of expansion, and the tonnage sup
England, the Bank rate of discount, the price of consols, & c.
ply is far less out of proportion to the necessarily increasing
demand than has been the case for the last three years.
1884.
1883.
1885.
1886.
According to Messrs. Shubbs’ list, the number of failures in
£
£
£
£
Circulation, excluding 7-day and
other bills..................................... 24,436.670 24.513.110 25,037,210 25,616,670 England and Wales during the year was 4,859, against 4,357 in
4.363,049 4.001,717 9,104,828 7.9C0.216
Public deposits...............................
1885. The number of bills of sale registered was 12,215,
24,947,551
London
Trade Bills.
Bank Bills.
Joint Disc’t H’s
Stock At 7 to 14
Three Four
Six
Four
Six
Months Months Months Month* Months Banks. OaU. Das*
3 0 — S O 3M03X 3M03« 3M©3->1
2M~ 2 « iiT-2«
2 « 2M-2«
2«
3 « 0 — S O — 3)4©3M 3«@3% 3«®3%
2 « 2 « -2 «
2«
3 « » - 3 0 — 3M®3« 3M©3« 3 « 3 3 «
3Và 3 « 3%
3*
d ® — 3 « a - 4 « » 4 « 4 « ® 4« 4«©4%
3
«
3 « 3 « -3 «
t @ — 33*0 — i«® 5 4«©5 4«@5
3 « 3H 3%
3«
4 0 — 3%0 — 4M@4M14«©4 m I4)404«
Other deposits................................
Government securities...................
Other securities..............................
Reserve of notes and coin.............
Coin and bullion.............................
Reserve to liabilities.....................
Bank r a te .......................................
Consols...........................................
Clearing-House return...................
24,138,160
13,132,151
23.067,109
10,133,419
18,820,089
S5'38 p. c.
5 p. c.
100«xd.
79,103,000
25,053.105
12,046,949
23,427,505
11,352,118
20,115,22?
3 8 «p .c.
4 p. e.
99«xd.
100,899,00t
25.840,336
14.462,491
25,557,765
11,570,695
21,437,365
34« p. o
3 p. c.
101«xd.
144,551,000
against 11,833.
Although business in the grain trade has been quiet during
the week, owing to the holidays, the tone has been distinctly
strong. W heat has advanced about Is. per qr., and is firm at
the improvement. The wintry weather, the reduced importa
tions and the prospect of diminished shipments to us have
combined to produce steadiness. It is abundantly clear that
The Bank rate of discount and open market rates at the
the trade just now is in a much firmer condition than it has
chief Continental cities now and for the previous three weei s
been for some time past. The grain apparently is in stronger
have been as follows:
hands, and present holders do not recognize the necessity of
realizing at any cost. The result is, grain is held back when
Dec. 17.
Dec. 10.
Dec 81.
Dec. 24.
Bates of
foreign importations come forward with unusual liberality,
Interest at
Bank Open Bank Open Bank Open Bank Open
and the depression which might result from an overBate. Market Bate. Market Bate. Market Bate. Market
abundantly supplied market is thus checked. Meanwhile the
a
3
s
2«
2«
Paris.................
3
3
2«
Imperial weekly average price of wheat is steadily rising.
4
4
8«
4
5
Berlin...............
4«
5
4«
For the week ended Dec. 24 it was 33s. lid . per qr. This
4
4
3M
5
Frankfort........
5
4«
4«
3«
4
4
4
Hamburg.........
5
2M
5
4M
4M
is an advance of 7d. per qr. over the previous week. It is the
Amsterdam.....
2M
2M
2«
2M
2M
2«
2«
2M
highest price touched so far this season and is 2s. 2d. per
2M
2
«
Brussels...........
2
«
2
«
2
«
2«
2«
2«
4
4
4
4
qr. above the lowest quotation marked, which was on Oct.
Madrid..............
4
4
4
4
3«
4
4
4
4
Vienna..............
4
4
4
16. The price then was 29s. 8d. per qr. During the ten weeks
5
5
5
5
5
5
5
8t. Petersburg..
5
which have elapsed since then there has been a steady upward
3«
3«
8«
3M
8«
3
8«
Copenhagen....
3
Messrs. Pixley & Abell write as follows on the state of the movement in prices, which has progressed without a check,
and the market still bears promise of a further improvement.
bullion market: Jj^i)
Gold.—A further withdrawal o f £100,000 in sovereigns from the bank The agricultural community are to be congratulated at the
has taken place for Australia, and for the time there would appear to turn events have taken recently. The level of prices still
be no further demand for that quarter. There are no orders from leaves ample margin for improvement, but there is less of
other countries, and the Bank has received since our last about £119,
000 in bars and coin. The arrivals o f the week comprise £48,700 from that hopeless despondency which formerly characterized the
the West Indiep, £19,000 from Vera Cruz, £52,230 from Sidney, markets, and although quotations are hardly likely to be
£27,100 from China and £15,000 from New Zealand; total, £157,030
pushed up much higher, there is at least a prospect of values
Silver.—The market has remained stearly at 40d. per o u n c e ; but not
m uch business had been transacted at the close o f last and beginning during the season comparing favorably with 1885-86.
The following shows the imports of cereal produce into the
o f this week, owing to the slackness o f supplies. The amount by the
M edway from the West Indies (£40,000) was placed on Tuesday at 46d. United Kingdom during the first seventeen weeks of the season.
13,162.619
27,304,339
11,408,286
20,695,406
33« P- c.
5 p. 0.
99xd.
92,088,000
per ounce; and the bulk o f the arrival (£170,000) from Chile was, with
some little difficulty, sold at the same rate to-day; the market, however,
subsequently improved, and business to a limited extent could have
been transacted at a slightly higher figure. We have received since
our last £ !5 .8 u 0 from New Y ork, £ l0,0 0o from West Indies and £ l7 0 ,000 from C hile; total, £231,80 >.
Mexican Dollars.—The market has been steady d uring the week, and,
although the arrivals have been Important, the price has been main
tained at 45 %d. per ounce. The W. I. steamer brought £130,200 from
the West Indies and the Umbria £ ¿,0 0 0 from New York; total, £141,200.
The quotations for bullion are reported as follows:
GOLD.
London Standard.
Dec. £0. Dec. 33.
8. d.
Bar gold, fine.. ,oz. 77 9
Bar gold, contain’g
20 dwts. silver.oz. 77 19
Span, doubloons.oz.
8. Am.doubloons.o*
8.
d.
77 9
77 10
Dec. 23
a.
40«
m¿
49 «
45%
k
d.
40
46«
*40«
45%
The revenue returns for the quarter just ended are certainly
quite as satisfactory as could have been expected. There is a
net gain of £721,292.
Customs have increased £238,000,
stamps and post-office account for £260,000 and £ 220,000
respectively. Property and income tax exhibits an increase
1884.
16,202,375
6,856,840
4,037,510
807,005
1,309,759
5,870,627
4,933,840
1883.
20,899,495
7,908,106
4,555,287
551,125
941,289
9,272,351
4,900,250
Supplies available for consumption (exclusive of stocks on
September 1 ):
SILVER.
London Standard.
Bar silver..........oz.
Bar sllver.containing 5 grs. gold.oz.
Cake silver......oz
W h e a t .............. ow t.
B a r le y ......... . . . . . . .
O ats.............................
Peas..............................
B e a n s .................
Indian c o r n ...............
Flour................
IMPORTS.
1885.
1886.
16,357,587 18,956,074
5,261,589
8,727,282
4,114,850
5,956,164
799,518
785,504
1,172,424
8,387,675
7,768,763
4,295,457
5,061,977
1886.
1885.
Imports o f wheat, cw t.16,357,587 18,956,074
Imports o f flour.......... 5,061.977
4,295,457
Sales of hom e-grow n..12,950,551 15,210,168
1884.
16,202,375
4,933,840
16,561,851
1883.
20.899,495
4,900,250
16,875,100
T otal.....................
34,370,115 38,491,699 37,698,066 42,674,845
1886.
1885.
1831.
1383.
Aver, price w h ea t.. . . ..w eek. 33s. l i d . 3os. 2d. -3 ls. 5d. 39s. 0d.
40s.5d.
A v er, price wheat...... season. 31s. 5d. 30s. l i d . 32s. Id.
The following shows the quantities of
maize afloat to the United Kingdom .
This week.
Wheat............ qrs. 1,818,000
F lour.eaualtoqrs]
251,000
Maize.VV.. . . . qrs. J 337,000
Last week.
1,775,000
266,000
298,000
wheat, flour and
Last year.
1.620,000
167,000
357,000
1885,
l,856<0<ty>
180,000
2 i3 ,0 0 0
THE CHRONICLE.
82
B m lU b
F in a n c ia l
[V ol. XLIV,
in legal tenders held for the redemption of bank notes up to
M a r k e t « — P e r C a b le .
The daily closing quotations for securities, See., at London January 1 :
are reported by cable as follows for the week ending Jan. 14:
' National Bank Notes—
Wed.
L ondon.
Sat.
Mon.
Tues.
Silver, per o z .............A .
Consols fo r m o n e y ... . . .
Console fo r aooount.......
Fr’oh rentes (in Paris) fr
U. 8. 4*as o f 1 8 91..........
U. 8. 4s o f 1 9 07..............
Canadian P a o l fl o ..... . .
Ohio. Mil. & St. P a u l....
E rie,com m on s t o c k ....
Illinois C e n tr a l............
P en n sy lv a n ia................
Philadelphia & Reading
New York C e n t r a l.....
46*a
100918
100%
82*50
112*8
129>a
68*4
92 h’
3 lie
137
58
19ia
116*4
4C*a
10038
100*lift
82'32*s
1125s
130*4
69*4
9278
3478
137%
58*4
20*4
116%
46%
10013le
10015,
82*32*8
112 »8
130*4
695s
93*8
35*4
137*8
58*4
1978
1173s
Fri.
Thurs.
47
47
467a
lOOHjfl 100*3,6 100*3,8
100*6,8 100*5,8 100*5,8
82*15 82*20 82*25
11278 11278 11278
I307e 13050 1305b
6H5g
70
70
92*4
9278
92*8
34 ■%.
347a
34%
137% 137% 137*a
58*8
58*8
58*8
19 7s
19%
19 »8
116*8 x 116*8 1116*4
(itfmrasrctal and UKiscellattjexrtts H jetas
N a t i o n a l B a n k s . — The following national banks have lately
been organized:
Amount outstanding December 1 ,1 8 8 6 ----Amount issued during D ecem ber..................
Amount retired during D e c e m b e r .......... .
$366,765
2,896,759
2,529,994
$296,486,877
Amount outstanding January 1 ,1 8 8 7 * ...
Legal Tender Notes—
Amount on deposit to redeem national bank
notes December l , 1886.............................
Amount deposited during D e c e m b e r ..........
Amount re-issued & b’nk notes retir’d in Deo.
$299,016,871
$5,576,260
2,896,759
Amount on deposit to redeem national
bank notes January 1 ,1 8 8 7 ..................
$88,491,271
2,679,501
$91.170,772
•Circulation of national gold banks, not included above, $285,104.
According to the above, the amount of legal tenders on
deposit Jan. 1 with the Treasurer of the United States to re
deem national bank notes was $91,170,772. The portion of this
deposit made (1) by banks becoming insolvent, (2) by banks
going into voluntary liquidation, and (3) by banks reducing of
retiring their circulation, was as follows on the first of each of
the last five months:
3,612—The United States National Bank o f Atchison, Kas. Capital,
$¿50,000. George Stoloh, President; F. W. Hunton, Cashier.
3.613.
—Tue German Amerioau National Bunk o f Lincoln, 111. Capital,
$50,000. Adolph Ritneithan, President; Louis C. SchwerdtJan. 1.
Nov. 1.
Dee. 1.
Oct. 1.
Deposits by— Sept. 1.
feger. Cashier.
8.614.
—The First National Bank o f Sparta, Tenn. Capital, $50,000.
$
$
$
9
$
W. N. Cameron. President; J. N. Walling. Cashier.
995,875
942,272 1,025,052 1,003,448 1,026,595
The Factory Point National Bank, Factory Point, Vt. Post Office Insolvent bks 9,882,605 9,706,193 9,630,938 9,507,531 9,361,304
Liquid’t’g bks
has been changed to Manchester Centre, Vt.
Reduc’ g und’ r
B o n d s H e l d b y N a t i o n a l B a n k s .— The following interest
act o f 1874* 51,376,622 57,798,172 70,888,779 77,957,145 80,813,593
ing statement, furnished by the Comptroller of the Currency,
shows the amount of each class of bonds held against national
bank circulation and to secure public moneys in national bank
depositories on January 1. W e gave the statement for De
cember 1 in C h r o n i c l e of December 4, page 657, and by refer
ring to that the changes made during the month can be seen.
TJ.S. Bonds Held January 1,1887, to Secure—
Description o f Bonds.
8s, A ct July 12, 1 8 8 2 ....
Currency 6s......................
4 per cents................. .
T otal............................
Public Deposits
in Banks.
Bank
Circulation.
Total Held.
$4,448,900
120,000
6,029.500
10,422,500
$52,218,950
3,680,000
59,636,200
113,903,200
$56.667,850
3,800,000
65,665,700
124,325,700
$21,020,900
$229,438,350
$250,459,250
G o v e r n m e n t R e v e n u e . — Through the courtesy of the Sec
retary of the Treasury, we are enabled to place before our
readers to-day the details of Government receipts for the
month of December.
From previous returns we obtain the
figures for previous months, and in that manner complete the
statement since the beginning of the fiscal year for 1886-87
and 1885-86.
000« Omitted.
J u ly .....................
August..................
-September............
October.................
November.............
December.............
Total 0 months..
xooo.
'
. j
Cut- lnter'VMisc'ls Total. Cus- Inter’l Misc’ls
toms. Itev’ue Sourc's
toms. Itev’ue Sourc’s
$
1
t
$
$
$
t
$
17,890 9,480 2,258 29,037| 16,219 8,501 2,047 20,707
20,771 9,693 1,726 32,195 17,290 9,071 1,704 28,005
20,086 0,160 2,141 31,687 17,521 10,446 2,003 29,971
17,179 9,772 4,014 30,965 17,316 11,953 1,504 30,833
15,14 1 9,089 2,74« 27,570 13,057 9,250 3,074 25,381
10,332 9,544 2,747 28,623 14,426 9,003 1,729 25,758
107,408 57,643 15,032 I80,683[ 95.829 58,824 12.122ll60.775
C o in a g e b y U n it e d S t a t e s M in t s .— The following state
ment, kindly furnished us by the Director of the Mint, shows
the coinage at the Mints of the United States during the month
o f December and for the year 1886 :
enom inatio n.
Month o f Dec., 1886.
Pieces.
Value.
Tear 1886.
Pieces.
T otal........... 62,201,499 68,529,417 81,523,165 88,491,271 91,170,772
* A ct of June 20,1874, and Ju ly 12, 1882.
Imports and Exports for the W eek. — The imports of last
week, compared with those of the preceding week, show
an increase in dry goods and a decrease in general merchandise.
The total im ports were $8,598,054, against $8,985,059 the
preceding week and $7,563,684 two weeks previous. The ex
ports for the week ended Jan. 11 amounted to $5,982,469, against
$7,141,137 last week and $4,672,165 two weeks previous. The
following are the imports at New York for the week ending
(for dry goods) Jan. 6, and for the week ending (for general
merchandise) Jan. 7 ; also, totals since the beginning of the
first week in January:
FOREIGN IMPORTS AT NBW TORS.
For Week.
1884.
1886.
1887.
Dry G o o d s ......
GenTm er’d ise..
$2,814,798
6,482,153
$2,668,890
6,105,187
$1,689,324
5,647,674
$2,450,222
6.147,832
$9,296,951
$8,774,077
$7,336,898
$8,598,054
Since Jan. 1,
Dry G oods.........
Gen’l mer’d lse..
$2,914,798
6,482,153
$2,668,890
6,105,187
$1,689.324
5,647,674
$2.450,222
6.147,832
Total 1 w e e k ...
$9,296,951
$8,774,077
$7,336,998
$8,593,054
In our report of the
ports of dry goods for
The following is a
specie) from the port
week ending Jan. 11,
$6,474,595
$8,034,919
$5,670.839
$5,982,469
Total 1 w e e k ...
$6,474,595
$8,034,919
$5,670,839!
$5,982,469
The following table shows the exports and imports of specie
at the port of New York for the week ending Jan. 8, and
since Jan. 1, 1887, and for the corresponding periods in
1886 and 1885:
EXPORTS AND IMPORTS OF SPECIE AT NBW YORK.
$
22,120
10,621,600
18,282,160
3,426
10,220
6,016
Total g o ld .
317,594
1,969,857
4,730,944
28,945,542
All other oountries. . .
2.550.261
5.261
5.261
1.100.261
2,550,261
2,630
1,316
110,026
31,423,886
5.886
5.886
6,584,094
31,423,886
2,943
1,472
658,409
T otal 1887...........
3,661,044
2,664,233
38,019,752
32,086,710
1,801.811
1,811
90,091
54
90,018
3,330,290
4,290
17,654.290
166,515
128
176,543
10,805,433
180,163
20,988,870
343,186
B
Standard dollars.
H a lf d ollars.........
Quarter d olla rs..
D im e s....................
Total silver.
F ive cents..
Three cents.
O ne cent___
Total m in o r . . .
Total coinage..
14,784,071 4,814,253 63,739,566
61,375.438
Total silver dollar coinage to d a te....................................... $249,683,547
C h a n g e s in L e g a l T e n d e r s a n d N a t i o n a l B a n k N o t e s t o
January 1.— The Comptroller of the Currency has furnished
us the following, showing the amounts of national bank notes
December 1, together with the amounts outstanding January 1
and the increase or decrease during the month; also the changes
Imports.
Exports.
Value.
1,045
78,020
232,021
1,054
24
5,430
1,106
1,062,160
3,650,432
1,142
4,088
6,016
1887.
1886.
1885.
1884.
For the w e e k ...
Prev. rep orted ..
Double eagles.
E agles.............. .
H alf eagles___
Three dollars...
uarter e a g le s.
ollars..............
20.900
780,200
1,160,105
3,162
60
5,430
dry goods trade will be found the im
one week later.
statement of the exports (exclusive of
of New York to foreign ports for the
1887, and from January 1,1886, to date:
EXPORTS FROM NBW YORK FOR THE WEEK.
Sold.
<B
1885.
Week.
$ .........
Silver.
Ireat B r ita in ............
All other countries. . .
Total * 8 8 7 ______
Total 1885---------
Week.
Since Jan. \.
$1,237,107
760,989
142,820
50,118
949
6,638
14,511
$ ......... $1,237,107
760,989
142,820
50,118
949
6,638
14,511
$14,511
1,300
152,225
$14,511 ♦2,193.621
537,851
1,300
252,314
152,225
$2,198,621
537,851
266,667
$ .........
$ .........
21,999
206
16,830
21,999
206
16,830
$39,035
8,219
5,39«
$39,035
8.219
25.999
Vest I n d ie s . . . . . . . . . .
T otal 1 8 85..........
Since Jan. 1*
$153,500
17,600
2,200
$153,500
17,600
2,200
4,000
4,000
$177,300
370,227
329,162
$177,300
506,277
384.102
Of the above imports for the week in 1887, $44,639 were
American gold coin and $15,122 American silver coin.
Of
the exports during he same time $14,511 were American
gold coin.
J a n u a r y 15, 1887.]
THE CHRONICLE.
„U n ite d States Sub-Treasury.—The following table show
the receipts and payments at the Sub-Treasury in this city, as
Wft! I Afl fina KoIqviaaa ■«*
Date.
Receipts.
a ----- -
_c ii. _ ___a
ianfeiug and fftttaucial.
«
$ 7 5 ,0 0 0 .
Balances.
Payments.
8
10
11
12
13
14
9
868.223
1,342,679
1,241,064
1.401,903
900,271
1,352,145
$
931,093
1,408,364
1,198.898
1,410,038
1,708,022
1,358,718
Total ..
7,105,235
8.065,133
Jan.
“
«*
“
“
«
j __
Coin.
Coin Cert's.
83
Currency.
$
$
9
129.716.248 20,915,090 17,935,679
129,873,669 20,867,150 17,840.514
130,081,252 20,520,740 18,021,507
130.112,103 20,519,990 17,983,266
130.197,764 19,522,590 18,087,269
130,281,346 19,350,671 18 169,023
FORT
SMITH
& TAN
BUREN
BRIDGE
CO.’S
FIRST MORTGAGE S IX P E R CENT SINKING FUND TWENTY,'
F IV E Y E A R GOLD COUPON BONDS, GUARANTEED,
PRINCIPAL AND INTEREST. BY THE
S T . LOOTS A SAN F R A N C IS C O R A I L R O A D CO .
.■7£ Vr
“ “ 1, r u a u 1.; —1nomas r . Kyan, the rreasurer
GUARANTEE INDORSED ON BONDS.
or the Broadway & Seventh Avenue Railroad Company, in his
capacity as representive of the Philadelphia horse railroad
P
R
IC
E
- ■106 a n d IN T E R E S T .!
syndicate, deposited with Drexel, Morgan & Co., two checks
one for $500,000, the other for $425,000, with interest from
February 1, 1886. These two checks completed the sale of Pays In vestor about 5 1-2 P er Cent. 108 Is n o w R id for
the Broadway & Seventh Avenue Railroad, made conditionthe F irst Preferred Stock o f the St. L ou is &
ally by Messrs. Kerr, Foshay, Sharp and others to the Phila
San Francisco R a ilw a y Com pany.
delphians in April last,
Flatbush & Coney Isla n d .— A reorganization
G R IS W O L D A G IL L E T T ,
(Brighton Beach) Railroad Comp m y, which has been
«1 the hands of a receiver for some time, will soon be effected.
NO. 3 WALL STREET, NEW YORK.
# iinnnnA anii hotel were covered by first mortgage bonds
tor
and second
mortgage bonds
for d!
a OiUlUtU
similar ttiu
amount
uvu uo tut
uum ,
■fT
T. fDOOjOOO
•
/
----.---_ 1 • V I . •>
W flMTI tiho ronoiTTn** nrn« nwm/v!«*« J __ ___ 1
GRAPE
CREEK. COAL CO M PAN Y,3
”
n0AAec^ lv,er was appointed an additional indebtedness
or f ¿50,000 had accumulated. No interest has been paid
since September, 1885. A suit for the foreclosure of the first
O f D a n v ille , III.
Pending. A majority of the first mortgage
.“ “ holders have now agreed to authorize a purchasing com
F IR S T M O R T G A G E 6 P E R C E N T SIN K IN G F U N D
mittee to sell the bonds at not less than oar, and if they are
not sold the committee is authorized to bid for the property
BONDS, D U E 1 9 1 6 .
an amount equal to the bonds and interest. By this agreement the stockholders and second mortgage bondholders are
IN T E R E S T P A Y A B L E A P R I L AND O C T O B E R , 1
iett out unless they purchase the first mortgage bonds or bid
more for the road.
AT TH E FARM ERS
LOAN AN D T R U S T
•
NorthernCentral— Lake Ontario.— The Chemung Railroad,
Blnnra Jefferson & Canandaigua Railroad and the Sodus Bay
'* .T ju "h®r? railroad companies have been merged and con
solidated into one corporation, to be known as the Lake
wilfbeO$ ? a500O000COmPany'
CO., N. Y .,
TRU STEES.
These bonds are a first and only lien upon one of the most valuable
and-well-established coal properties In the State o f Illinois, consisting
The Capital of the new company
o f over 2 ,0 0 0 acres o f coal land, 1 2 2 houses, a well-stocked store,
— Messrs. John F. Douglas, of the late firm of Lawson
Douglas & Co., Willard H . Jones, late of Messrs. S. Lawson
& Co. and member of the New York Stock Exchange, have
recently formed a new firm under the title of Douglas &
Jones. They have opened oflSces at 72 Broadway and 13 New
otreet, and this enterprising firm gives notice that they are
prepared to buy and sell stocks and bonds for cash or on
ample farm buildings, and all the machinery, plant and appliances—on
which there is no indebtedness w hatever except this issue of bonds.
Sficfted aU° W interest on deP°sits, &c.
Correspondence is
Of tills issue $ 1 2 5 ,0 0 0 are set aside and held in trust by the Farmers
Loan & Trust Company, o f New York, and cannot be used for any
other purpose than for buying more coal lands, bui'ding more houses
and making additional permanent improvements to the property
$ 3 0 0 ,0 0 0 o f these bonds have already been sold, and are held fo r
investment b y some o f the most conservative Investors In this oity
-^Messrs. Brown Brothers & Co., Kuhn, Loeb & Co. and J.
and W . Seligman & Co. offer for sale $5,000,000 of the Chi State, and throughout New England, Including many o f the leading
cago Rock Island & Pacific 5 per cent first mortgage exten Savings Banks, Bank Presidents and Trustees,
sion and collateral bonds, issued at $ 20,000 per mile on road
A sinking fund is provided in the m ortgage for the payment to the
and equipment. These choice investment bonds are offered
at 110 per cent and accrued interest, the right being reserved Farmers’ Loan & Trust Company of $ 2 0 ,0 0 0 per annum, beginning
A pril 1,1 891 , for the redemption at par of that amount of bonds eaeh
to advance the price at any time.
Mor£ an & Co- and Unger, Smithers & Co.
offer at 103% $1,300,000 of the New Jersey Junction Railroad
per cent first mortgage 100 year bonds, guaranteed by the
New York Central & Hudson River Railroad Company.
St* Paul Minneapolis & Manitoba quarterly dividend
W iilu n f Street^
Wl11 be P&id ° n February 1 at the office, 63
PMiad?iPhia Company (natural gas) gives notice of
its me nthly dividend of 1 per cent, payable on the 20th inst.
K^A1I}Ctioa ^ a ie s — The following were sold at auction lately
by Messrs. Adrian H . Muller & Son :
Shelves
Bonds.
o ' \ Mutual Gas Lt. Co. 100
$3,000 Mutual Gas Light 6
20 Bank Manhattan Co
15 7
per
cent
bonds...............
...1 0 2 ij
30 Howard Ins. Co., old stk.’ 62
$80,000 Mississippi Central
4 Nat. Bk. o f Rahway, N.J. 50
7s,
gold
income
and
equip
220 Broadway & Seventh Av.
ment bonds, due 1884,
RR. Co..................22313-219
guar, by Southern RR.
100 North River Ins. Co__
115
Asso. Juue, 1876, coupons
50 Farmers’ Loan & Tr. Co."440ifl
on,
and $80,000 December,
10 German American Real
1875, coupons on, fo r .......... $100
Estate Title Guar. C o ... 100
$6i>,000 Mississippi Central
40 Fifth A ve. Trans. Co.
7s, gold incom e and equip
____ (Lim ited)............................ ex 1«
ment bonds, due 1881, guar,
1,800 Silver Valley Mining
by Southern Railroad Asso.
Co. o f B a lt , old s t o c k .fi 1 lot
J une, lo7 6 , c jupons on, for. $30
jjatthiag anti fin a n cia l.
year, until the entire issue is redeemed and canceled.
Tlie rental from the houses and the profits from the store,
screenings and the farm s w ill m ore th an pay the Interest
on the entire Issue o f bonds w ith o u t tou ch in g the profits
from ths sales oigcoal.
F o r the tw o years and eleven m on th s ending A p ril 1 ,
1 8 8 6 , the com pany earned $ 1 6 9 ,4 6 2 and 5 1 -1 0 0 , or nearly
6 per cent on $ 1 ,0 0 0 ,0 0 0 , an d w ith the additional plan t to
toe put upon th is property lt sh ou ld earn 6 per cent on
$ 2 ,0 0 0 ,0 0 0 , w h ile the Interest charges are only $ 3 0 ,0 0 0
yearly.
We offer a limited amount of these bonds to investors that are seeking
safe securities for investment, and we look upon them, at the p rice
offered, as the most profitable Investment in the market, paying the
investor about 6 1 - 2 per cent interest.
Price, 9 5 and accrued interest.
G R IS W O L D & G IL L E T T ,
NO. 3 W ALL STREET, NEW YORK.
K N O X V I L L E A O H IO R A I L R O A D CO.
FIRST MORTGAGE S IX PE R CENT GOLD BONDS DUE 1925
C I T A O F SC RANI T O Al
4
P E R
CENT
BONDS.
TERMS. ON APPLICATION TO
H A R V E Y
P I S K* &
A t Central Trust Company (Trustee) New York.
Price par flat, subject to New Y ork Stock Exchange quotations.
SONS,
BANKERS,
28 Nassau Street, New Y ork.
Interest Payable January and July,
For further particulars on all above Bonds call on, or address
G rR IS W O L D
&
G IL L E T T ,
No, 3 W a ll Street, New Y o rk ,
[V O U X L T V .
THE CHRONICLE.
84
^ h e
ja n k e r s '
think that that this is likely to keep up for a while. Posted
rates have been advanced to 4 83 and 4 87, and this advance
has stopped the shipments of gold from the other side, though
in the early part of the week $470,000 was received of the
prior shipments.
.
To-day the rates on actual business were as follows, v iz .:
bankers’ 60 days’ sterling, 4 82 $@ 4 8 2 *; demand, 4 86$ @ 4 86$.
Cables, 4 S 7 @ 4 87$.
Commercial bills were 4 8 0 £ @ 4 81 ;
Continental bills were: Francs, 5 2 4 $ @ 5 25 and 5 2 H @ 5 22$,
reichraarks, 94$@ 94$ and 9 5 @ 9 5 $ ; guilders, 39 $@ 40 and 40$
© a x e tte
The follow in g dividend» have reoently been annonnoed:
Name o f Company
R a ilr o a d s .
Central Ohio. com. and p r e f...
Dubuque & Sioux City
R utland, p r e f....’....... Mill Creek & Mine Hill
Mt. Carbon & Ft. Carbon
Schuylkill Valley N av—
St. Paul Minn. & Man. (quar.)
"Winchester & Potomac
H a n ks.
Seaboard N atlonnl
^ T h e following were the rates of domestic exchange on,
New York at the under-mentioned cities to-day: Savannah,
buying par, selling $ @ $ premium; Charleston buying 1-16
discount @ par, selling $ premium; New Orleans, commercial,
125c. discount, bank, par; St. Louis, 50c. premium; Chicago,
25c. discount @ par.
The rates of leading bankers are as follows :
Insurance
A m erican Fire..............
A m erican Fxobange Fire
Continental...
Fai ragut Fire
Guardian Fite........................ Kings County.'........
K n ickerbocker Fire
iPacillc F ite —
Phenix (Brooklyn)
Standard Fire...................
m iscellaneous.
Sixty Days.
January 14.
PrlinebankerB’sterllng bills on London.
P rim eoom m eroia l........................................*
, PT
Consolidation Coal........................ . '
fits.
JN. Y. & Perry Coal & Iron (quae.)
lq
Philadelphia Company (m onthly)
1
Quirlfsilver Minina r>ref.................¡
l 1^
Jjaan.
n.
Jan.
Ipe.h.
28
25
20
1*
Jan. 19 to Jan.
Jan. 16 to Jan. 26
Jan. 15 to
Fpb.
S T U K K T , K U l U A t . J a n u a r y 1 4 , 1 » S 7 —5 F.
The Money Market and Financial Situation.—Business
at the Stock Exchange has been held in check to some extent
by the uncertainties hanging about the Inter-State Commerce
bill, and by doubt as to the future course of the stock market.
The imports of gold have now ceased, and with the Bank of
England rate at 5 per cent and a rather unsettled condition of
European affairs, it has been predicted that American securi
ties will be sent home from abroad, and that we may have an
outward movement of gold similar to that which occurred in the
first half of 1880. But this seems hardly probable without
some very decided admonitions of war abroad, or some events
On this Bide which are calculated to shake confidence in the
value of our railroad securities.
And as to the trade balance,
it is well known that our exports are now largely in excess of
Demand.
~ 4 87
4 83
g ? Vl
K
f f i a or
T Bremen
t a
® * * “ IK W & s l
Frankfort
(relobroarh»!............ I 9m4V
s8>t>94-q
United State» Bond».— Government bonds have been mod
erately active and pretty strong, the 4s advancing over one per
cent higher than the prices of last Friday. The sales included
$20,000 of the 6s of 1898 at 132$.
The closing prices at the N . Y . Board have been as follow s:
Interest Jan.
¡Periods.
8.
Jan.
10.
Jan.
11 .
Jan.
12 .
Jan.
13.
Jan.
14=.
>110 >110 % 11034 11034 *11038
4% b, 1 8 9 1 ............ reg- Q.-Mar. 110
110381 >110 % IIO 34 IIO 341*11 * 3&
4%s, 1 8 9 1 .........coup. Q.-Mar. 110
126s»«*
127 *4 12" 34 1273» 127 s8 *127- a
4s, 1907.................reg. Q.-Jan.
12734 >127-%, *127 3a
12t>34l*12734
48, 1907 ...........coup. Q.-Jan.
■10038*10018 >100 *10038
*10034
“
1003*
3s, option U. 8 .. ..reg. Q.-FeD.
*125% *125%
>
125V
125%
6 b, cur’cy, ’ 9 5 — reg. J. & J. *125 1*1253«, '12714*12736 *127381*12738
6s, our’ey, ’ 96 — reg. J . & J. *12738 *12718 >130 1*13038 *130181*13038
6a, eur’ ey, ’9 7 — reg. J. & J 1*1297s *12978 132!%*. 325» 132% * 1323a
fis, cur’cy, ’9 8 — reg. J. & J *131% *131%! *1351« *135341 *lS5i4!*13534
6b. onrVv. ’9 9 ___retr.J. & J 1*134 34i*l 3 13j
- riiio it, uixo price uiu at tne m orning b oa rd : no sale w as made.
12734
State and Railroad Ronds.— The feature of the State bond
market has been the Virginia deferred bonds, an active specu
lation in them having taken place, on the talk C0Q^ nin^ h
possibility of some settlement of the debt question. They
rose from 13 to 15$. from which point they have reacted some
1886.
(j
what and close at 14$. In other securities the business has
There has been a great deal ol money made in England an
been moderately active at slightly changed prices.
" n the Continent out of American railroad stocks and bond s
Railroad bonds have been relatively much more active than
lince the panic of 1884. It has happened that several of the stocks, and the market has been pretty firm for most issues,
banking houses most prominently identified with railroad
nd verv strong for some. The demand is good and the feed
reorganizations have had foreign connections, and the profits ing pretty buoyant, and there have been a fe'v^pP QP^Ft^
reaued from the advance in some of the previously demoralized advances, p r in c ip a lly in the lower-priced classes
The Nickel
securities have been so large as to whet the appetite of investors Plate lsts have bden gradually recovering some of the decline
in London, Amsterdam and Frankfort for more or these of last week, and on Thursday were very strong. There has
been conspicuous strength in some of the Income bonds, ifi
American delicatessen.
.
,.
.,
-A
Except in the possibilities of Congressional action, the out eluding those of the Lake Erie & Western and Sandusky D iv
look seems to be excellent; wheat and flour are now exported ision Ohio Southern, Indiana Bloomington & Western, Peoria
from the United States at the rate of over 8,000,000 bushels Decatur & Evansville, Texas & P a c i f i c income and land grants,
per week, including California, and the activity in trade etc. Besides these, some of the higher-priced bonds have ad
which comes from railroad building is likely to be as marked vanced, though not to a great extent.
in the present year as at any recent period.
and Miscellaneous Stocks.— The stock market
The open market rates for call loans during the week on forRailroad
the past week has been a uuii ana uumi-erconus uut| »—
stock and bond collaterals have ranged from 3 to 6 per cent, except for a little spurt of activity and increased strength on
the usual rate to stock brokers being 5 @ 6 per cent; to-day the Thursday and to-aav, would have been uniformly flat and
rates were 4 @ 5 per cent. Prime commercial paper is quoted featureless. The fluctuations were slight and irregular during
at 5(9)6 per cent.
_ * ‘all the early part of the week, and the market was very dull.
The Bank of England weekly statement on Thursday showed Very little interest has been manifested by the public and their
a gain in specie of £282,000, and the percentage of reserve to dealings have been small, so that the transactions were mainly
liabilities was 88, against 30$ last week; the discount rate by room traders, and they did very little, ^ r e is a depo
rem a in s unchanged at 5 per cent.
The Bank of France lost sition to await the outcome of the pending Inter-State Com
6 800,000 francs in gold and 3,975,000 francs in silver.
nierce bill, and at the same time an apparently strong under
’ The New York Clearing House banks, in their smtement of tone prevails; hence the dulness and small fluctuations.
January 8, showed an increase in surplus reserve of $2,5*5,825,
On Thursday the market was somewhat improved by a
the total surplus being $14,786,6.75, against $12,-<1,850 the recurrence of more active speculation in the Southern sstocks,
and Richmond Terminal was pushed up very sharply to 47 after
previous week.
Tne following table shows the changes from the previous having declined to 40 the day before. Other Southern stocks
years
in
the
week and a comparison with the two preceding
were not nearly as strong, and Norfolk & Western preferre ,
averages of the New York Clearing House banks:
which had previously risen, became irregular and somewha
J
1887:
Jan. 8.
Difler’nces f r ’m
Previous Week.
1886,
Jan. 9.
1885.
Jan. 10.
$339,873.700 $296.153,600
Loans and dls. $348,479.300 In a .$4,791.800
93,082,100
95,177.000
8 \ 509.20! l u e . 2,791.100
B peeie............
1,262.600
9,854,«00
14,700
7,f96.80< Deo.
CSroulation...
383,397.600 349.217.300
Inc
.10.870,300
370.138.900
Net deposit»..
39,779.200
31,117,700
21,812.200 Ino. 2.441.800
Legal tend era.
$95,849.400 $87,311.=25
Legal reserve $92,P34.725 Ine .$2.717,575 124,199,800 134,956,200
107,321,400
Tuo. 5,232,900
R eserve held
$14.796.6751 fne. S ?,515.335 $28.350.400 $47,644,375
S ir r in s .........
W<The improvement in prices extended to others than the
Southern |roup, however, and Nickel Plate bonds and stocks
were strong and advancing, as were also New England, Texa
& Pacific, etc., and the balance of the market sympathized to
S° E i ! i a whole, the result of the week’s movement shows
a somewhat higher range than at the close of last week, w»
decided advances in a few stocks, mentioned above.
To day, Friday, the market was strong in the morning, stm
Exchange.— Sterling exchange has not been particularly ac led by Richmond Terminal and New England, but sold off
tive, but the rates have been very strong and advancing, partly little at the close. It was confidently reported to-day that A *
oSwing to a moderate supply of commercial bills. But there Terminal Company had made arrangements to contro
has also been a call from bankers iu connection with sales of
Tennessee.
American stocks for foreign account, and some of the bankers
THE CHRONICLE.
J anuary 15, 1887.]
85
PRICES OF STOCKS AT N. Y. STOCK EXCHANGE FOR WEEK ENDING J A N . 1 4 , AND SINCE JAN. 1, 1887.
HIGHEST AND LOWEST PRICES.
STOCKS.
Saturday,
Jan. 8.
Monday,
Jau. 10.
Tuesday,
Jan. 11.
Wednesday, Thursday,
Jan. 12.
Jan. 13.
. +iA e i i v ®
S to ck s.
12% 12%
Atlantic & Pacific
12%
12% 12%
12
12
12%
11% Jan. 5 12% Jan. 3
06% 67%
Canadian Pacific
66
67
67
66% 57%
67%
66 Jan. 8 68% Jan. 13
(>178
Canada S ou th ern ".. . .". ' ' .
61
%
61%
62
61%
62%
61% 61%
60% Jan. 4 63% Jan. 3
Central o f New Jersey
60% 62%
61%
61% 62%
60
61% 62
55% Jau. 8 62% Jan. 7
Central Pacific.
42
40% 40% *41
42
42%
42% 42%
40% Jan. 7 43% Jan. 3
8%
*8%
9%
9%
8%
*9.
9%
9%
Chesapeake & Ohio
8% Jau. 10
9% Jan. 8
161-2
D°
is t p r e f.
16% Jan. 12 17 Jan. 13
. 1)0„
2d p r o f. *10
9% Jan. 7
9% Jan. 13
Chicago Burlington & Quincy. 137% 137%
1,220 136% Jan. 13 138 Jan. 7
80
89%
Chicago Milwaukee & St.Paul.
90,940 88% Jan.
91 Jan. 3
Do
prof 117% 117%
7151117% Jan.
118 Jan. 4
Chicago & Northwestern .....' 113% 113%
17,5251111% Jan.
115 Jan. 3
140
140
... . • h o
pref.
275 139 Jan.
140% Jau. 5
Chicago Rock Island & Pacific. 126 126
625 126 Jan.
126% Jan. 6
Chicago St. Louis <fc Pittsburg.
17% 17%
2,900 16% Jan.
18% Jan. 11
39
39%
„ ..
pref.
1,960 38 Jau.
39% Jau. 10
Chicago St. Paul Min. & Om . 50
51%
49
50
38,0.00 47% Jan.
51% Jan. 7
Do
pref. 109% 109%
108% 108%
3,450 108 Jau.
109% Jan. 3
64% 64%
ClevelandCol.Cin.AIndianap.
63% 63%
1,200 63 Jan.
65% Jan. 3
37% 37
Columbus Hocking Val.& Tol.
38% 39%
11,430 36% Jan.
39% Jan. 11
133%
135
Delaware Lackawanna & Wes’
133% 134!
91,435
133
Jau.
138
Jau. 3
9,73. On:
29
D enver & Rio G., assessm't pd
2,184 27 Jan. 5 28% Jan. 3
Do
pref.
l3,723| 59% Jan. 4 66 Jan. 13
East Tennessee Va. & Ga. RV .
15% Jan. 5 17 Jan. 3
ho
I s tp r e f.
77% Jan. 4 82% Jan. 13
do
2d p r e f .
29% Jan. 5 32 Jau. 3
Evansville & Terre Haute___
86% Jau. 6 89 Jan. 3
Green Bay Winona & St. Paul
., 13 Jan. 6 13% Jan. 3
Houston & Texas Central
350
42 Jan. 11 45 Jan. 3
Illinois Central.........................
134* * 134
327 132% Jan. 7 134% Jan. 8
16% ' 16%
Indiana Bloomingt’n <&VVest’n
16% 17%
3,246 15% Jan. 4 17% Jan 14
Lake Shore & Mich. Southern.
94% 95%
95% 95%
31,610 93% Jan. 5 96% Jan. 14
L ong Island..........
94% 94%
401 94% Jau. 5 95 Jan. 4
Louisville & N a s h v ille !!!!!!"
64% 65%
64% 65%
63% Jan. 4 67% Jan. 3
Louis. New Alb, & Chicago
60
64%
60 Jan. 12 65 % Jan. 3
Manhattan Elevated, consol"
155% 156% Ì56% Ï 5 8 ”
154 Jan. 5 158% Jau. 3
Memphis & Charleston___
60
60
57%
Jan. 3 63 % .Tau. 7
Michigan Central.............. ._ ! ''
9 2 " *03*’
92
92
91 Jan. 5 93% Jan. 3
Mil. Lake Shore & W e s t.!!!!..
68% 68%
69
69%
66% Jan. 6 69% Jan. 14
99
_ r. D o
pref.
99
99% 99%
98 Jan. 4 99% Jan. 13
Minneapolis & St. Louis........
18% 18%
19% 19%
18% Jan. 12 20 Jan
...
Do
pref.
43% 43%
44
45%
42% Jan. 5 45% Jau.
Missouri Kansas & Texas ..
80% 31%
31% 31%
30%
Jan. 8 33% Jan.
Missouri P acific....................
107% 107% 107%
107 Jan. 5 109% Jau.
Mobile & O hio............ ! ! ! ! ! ! ! !
16%
15% Jau. 12 19% Jan.
Nash v. Chattanooga&St. Louis
84%
82%
82% Jan. 11 88% Jan. _
New York Central & Hudson
112% 112% 112% 112% 112%
4,538 111% Jau.
113% Jan. 14
13
13%
13
New York Chic. & St. Louis.
13%
12% 12%
13
13%
14% Jan. 14
24%
24
24%
Do
prof
24
24% 24%
24% 24%
28 Jau. 13
33% 34%
New York Lake Erie & West’n 33% 33%
33% 34%
33% 337g
34%
Jau. 3
7 1 3d
72
72%
« -L -A
73
Do
pref.
73
72% 72%
73% Jan. 3
53% 54%
53% 54%
New York & New England
52
53% 51
52%
55%
Jan.
3
New York Ontario A West.
*19
20
*19
20
19% 19% *19
19%
20% Jan. 3
1 1 %
*11% 11%
New Y ork Susq. & Western.
1 1 %
11% 11%
11% 11%
12%
Jan.
13
32
32%
32
32
31% 32
,
Do
pref!
31% 32
33% Jan. 3
21% 21%
Norfolk & Western...................
21% 22
22% 22%
22
22%
23% Jan. 3
50% 51%
51% 51%
__ Do
pref.
52
52%
52
53%
54
Jan. 3
Northern P acific.......................
26% 27
27% 27%
27% 27%
27% 27%
28
Jan. 3
59%
59%
60
60%
Do
p ref
59% 59%
59% 59%
61%
Jan.
3
27% 28%
Ohio A Mississippi..............
28
28%
27% 28
27% 27%
29% Jan. 3
20
20
Ohio Southern................ ! ! ! ! ! ! !
19% 19%
19% 19%
21
Jan.
14
32% 32% *32% **3*2% 32% 32%
Oregon A Trans-Continental!!
32% 32%
34% Jan. 3
31% 33%
33% 34%
Peoria Decatur & Evausville
33% 34%
33
33%
35% Jan. 14
38% 39
Philadelphia A Reading....... !
38% 39%
38
39%
37% 38%
39%
Jan. 6
9%
9%
Richm ond & Alleg.. receipts..
10% Jan. 5
41% 42% ’ *4*0% *41% ’ *4*0" 4 3%
Rlohm ’d & West P ’nt Terminal 40% 43%
48%
Jan.
14
Do
pref 79% 79%
75
78
78
78
82% Jan. 13
94
Rome Watertown A Ogdensb’g *93
92% 93
" 93% 93%
92% 92%
94%
Jan.
3
31% 32%
St. Louis & San F rancisco___
32
32%
32% 32% *32
32%
32% Jan. 7
6 6
6 6
66
66%
Do
p r e f....
66
66%
65% 65%
66%
Jau.
14
_ Do
i s t pref 117 117Ç 116% 117% *116 117%, *115% 117
117% Jan. 8
St. Paul & D uluth___
57% 57% *56% 58
57
59% Jan. 14
107 107 *107 108% *107 108%
Do
p r e f... .
107
Jan.
10
108%
Jan. 4
St. Paul Minneap. A Manitoba 114% i"l5
115 115
115% 115% 114% 114%
113%
Jan.
5
117
Jan. 3
_
Southern Pacific C o .......
36% 36%
36% 36%
36% Jan. 5 36% Jan. 10
25
24% 25%
25%
Texas & Pacific, 1st ass. paid
24%
Jan.
5
i
t
f
l
13
Union Pacific.........................
58% 59%
58% 59%
58% Jan.
62 Jan. 3
16% 16%
Wab. St. L. & P.,P. Com. repts.
17
17%
15% Jan.
19 Jan. 3
31% 31%
31% 31%
Do
pref.
29 Jan.
35 Jan. 3
M is c e lla n e o u s S to c k s .
Colorado Coal & Iron ___
39
39%
39
39%
38%
39% 39%
37% Jan. 4 40% Jan. 14
Consolidated Gas C o.......! ! ! ! !
79% 82%
81% 82%
81% __
81% 81%
79 Jan. 7 84% Jan. 14
Delaware & Hudson C an al... 102% 102% 102% 103
101% 103% 1 0 2 % 1 0 2 %
101% Jan. 4 104 Jan. 14
43
44
Oregon Im provement C o___!
44% 46
45% 47
43 Jan. 8 47 Jau. 13
Oregon R ailway A Nav. C o .. 100%102
101 % 101 % 101% 101% 101% id i%
100% Jau. 8 104% Jan. 3
Pacific Mail .......................
48% 49%
49
49%
49
49% 49% 49%
48% Jan. 8 51% Jan. 3
110% 111
Philadelphia Co., Nat. G ai! !
110 115
111 111% *110%
112% 112% x llO 110
110 Jan. 14 112% Jan. 13
Pullman Palace Car C o.......... *140 142
142 142
141 141
141 141
141 141
139%
Jan. 4 142 Jan. 11
73% 74% 74
Western Union Telegraph___
75
73
73%
73% 74%
73% 74% 74
74%
72% Jan. 5 76 Jan. 3
E x p r e ss S to ck s.
Adams...................... .................. 140 140% *140 141
139% 140% 140% 140% 140% 140%
141 Jan. 14
American...............
107% 107% *107 110 *107 110 *107 109
1071 -----109 Jan. 3
*63
65
United States............! ! . ! ! ! ! ! ! !
64% 64%
04% *63
65
64
64% *62% 64%
64% Jan. 11
Wells, Fargo & Co.................... *126 130
*123 130 *126 130 *126 130
126 130 *126 130
129% Jan. 4
I n a c t iv e S to ck s.
98% 98%
Atchison Topeka & Santa Fe.
97% 97%
97% 98
900 96% Jan.
98% Jan. 8
Boston & N. Y.' Air-Line, pref. 101 101
101% 101% *i‘o*i” ÌÒ2 * * i o i " Ì 02 V id i* i*0*2 ” *101 102
173101 Jan. 8| 101% Jan. 10
Buffalo R ocb. a Pittsburg___
34% 34% *34
34% 34%
35% 35% *34
35
*34% 35
325|
33%
Jan.
4
35%
Jan. 12
Cedar Falls & Minnesota.
17% 18%
17
18%
18
18% 18% ’ 18
18%
ft%
18% 18%
2,156 17 ____
~
4 19 Jan. 7
Central Iow a.........
15% 151
14
14
15% 15%
____
120
14
Jan.
11
15%
Jan. 10
Chicago & A lton .... ! ! .............. 144 144
144 144
60,143% Jan. 3 144 Jan. 8
Cincinnati Hamilton * Day
143 155
2
,1
0
0
1
3
0
Jan.
3
155
Jan..
11
Cincin. Ind. Sr. Louis & Chic
95
96
96
97
97
97
97
97
97
97
1,700 ■95
■ ■ J*n. 7 97 Jan. 10
Cincinnati Wash. & Baltimore.
*5
6
*5
6
*5
6
6
7
6%
6%
210
6
Jan.
13
7
Jan.
13
Do
ITCf
*9% 10
*9
10%
9%
9%
9%
934 10 % 10 %
910
_______
9%
Jan. 12' 10% Jan. 14
Morris & E ssex........................’ 139% 140
140 140
600 139% Jan. 8 140% Jan. ~5
Quicksilver Mining C o .. ! ! ! ! ! !
8%
8%
8 % "8 %
8%
8%
8%
8%
1,600
7%
7%
7% Jan. 14
8% Jan. 10
„
Do
pref___
30% 31%
31% 32%
32% 32%
32% 33%
33
33
30% 31
5,000 28 Jan. 4 33% Jan. 12
Toledo & Ohio Central, p ref.. *60
61
*60
61
*60
61
*59
60
58
*58
60
58
100 58 Jan. 13 58 Jan. 13
Cameron Coal......................
43
44
42
44%
40% 42
40
41%
41% 43
42% 43
11,85
39% Jan. 4 44% Jan. 3
New Central C oal.............. ._'!
17
17
18
18
17
210 16% Jau. 7 18 Jan. I I
17
New York & Perry Coal.........
64% 64%
65
65% 65*2 65% 66%! 6 6 % 66%
65%
66 »4 67%
4,200
62% Jan. 3 67% Jan. 14
Tennessee Coal A Iron..................48
48%
48% 49%
48% 49
48% 50%
50% 53%
52% 54% 12,120 44 J an. 5 54% Jan. 14
V a r i o u s S t o c k s , & c . (Uni isted.)
Amer. C ottoti Oil Trust
;..
62% 63%
63
63%
61% 62%
61
61%
61% 63%
63% 63%
__
13,540 61 Jan. 12 64% Jan. 3
Pine Line Certificates..............
70% 71%
70
71% 71%
71% 72%
71% 72 I 71
6 8 % 71 % rj,ójoooo 68% Jan. 14 72% Jan. 11
St. Louis Ark. & Texani............
:5%- 25%. 25% 26
25% 26
25
25%
25%, 25%
2,200 24% Jan. 5 . 26 Jan. 10
Do
1st m ort.. 100% 1 0 0 % . 100 100 % 100 100% 9 9 % 100%
100% 100% 212,000 99% Jan. 4 100% Jan. 8
Do
2d m ort .
56
56% 55 <8 56 %| 56
56
*55% 56
55%
56
56%I187,100 55% Jan.
56% Jan.' 8
Lake Erie & West., 2d ass. pd.
24% 26
25% 26% 25% 26%
25% 26 1 25%
25% 25% I 70,630 22% Jan.
26% Jan. 10
Do
pref. when iss.
55
58
58
59 I 58% 59%
59
59%l 58% 58%
58% 59 I 11,235 52 Jau.
5y% Jan. 11
* These are the prices bid and asked; no sale was made at the Board,
[YOU
THE CHRONICLE.
86
XUYi
PRICES OF ACTIVE BONDS AT N. Y. STOCK EXCHANGE ON FRIDAY, AND RANGE SINCE JAN. 1, 1887.
Closing.
Name o f Bond.
\Jan. 14 ]/aii. 7
I
Range since Jan. 1.
Highest.
Lowest.
88*2 Jan.
Atl. & Pac., W .D .—1st, 6s, 1910 .
28 Ms Jan.
29
W. D. ino., 6s. 1910.................. 28%
88% Jan.
89*2
Guar., 4s, 19 37,...................v^ L 2 2
103% 105% Jan.
Can. South.—1st guar., 5s, 1908 ig o
95
94*8 Jan.
2d, 5s, 1913............ ................-J
89 b. 89 Jan.
Cen. Iowa—1st, 7s. ’99, coup, off ° » %
Central of N. J.—1st, 7s, 1890.. 108 % 107%b. 108% Jan.
110
107% Jan.
Consol. 7s, 1899, assent........... J ™
1109 Jan.
Convert. 7s, 1902, assent........ ^ % a , 109
108% 105% Jan.
Adjust. 7s, 19 o3.......................
86M» I 83% Jan.
Convert, deb. 6s, 1908......., - * : l n 110
% 1.10 Jan.
lie ’ll & W.B. ,oon.7s, 1909.as’nt 110 b
99 Jan.
99
Am . Dock & Imp., 5s, 1921. ..1 0 0
Clies. & O.—Pur. m. fund 6s, ’ 98
77
7 6 % Jan.
6s, gold, ser. B, 1908, coup, oil »0
30 b. 30 Jan.
6s, currency, 1 9 1 8 ................... "l* a
............ 97% Jan.
Mort. 6s, 1911........................... ... ¡!o i
Ches. O. & 8o. W.—5-6s, 1911 ...|103% 103 %b. 103% Jan.
___
Cbioago & Alton—1st, 7s, 1893. I14%b.|114%b.
............ 104% Jan.
Chlc.Bur. & N o r .- 1st, 5s, 1926. lo g
106
106
Jan.
Chic. Burl. & Q.—Deb. 5s, 1913. 166%
98% Jan.
Denver D iv K , 4s, 1922........... 98»ab
Plain 4s, 1921.............................." o n " * '
Clilc. & Ind. Coal R., 1st, 5s, '361
’36 «9
99
98%
9^% Jan.
Okie.
Name o f Bond.
90% Jan.
29% Jan.
90 Jan.
106 Jan.
95% Jan.
90% Jan.
108% Jan.
110% Jan.
110 Jan.
1107% Jan.
86% Jan.
110% Jan.
100% Jan.
80
32
98%
104%
Jan.
Jan.
Jan.
Jan.
105 ".Tan.
106% Jan.
99 J an.
99
Jan.
c lÄ
f 7l'pi l o 5 ’ LJ‘ M'7 ,’ ’” 7 !2 8 5 : m ï b . î i r S :
l i t Ro M ln D iv l - é s ! ï s i b " " 1115%b. 115% 115% Jan. 115% Jan
la
t ’ nh'i
Ar Pan
W.DIv—5s. ’’ 21,
21 109
108 _ 106% Jan. 109 Jan.
1st,
Clii. &
Pac.W.Div—5s,
W is.& M in. D iv .-5 s , 1 9 2 1 .... H>6 %b. 105%b. 105% Jan; 106% Jan.
103%a. 103 Jan. 103 Jan.
Terminal 5s, 1914.....................
141 Jan.
Chic A N. W.—Consol. 7s, 1 9 1 5 140 D. ............ 140 Jan.
131%b. 132 Jan. 132% Jan.
Gold, 7s, 1902............................. I f l
118 Jan.
............
117%
Jan.
Sinking fund <%, 1929............... 11 ° “ •
Sinking fund 5s, 1929............... 199 0. 108% 108% Jan. 109% Jan.
109 Jan.
108
%a.
108%
Jan.
Sinking fund debent. 5s, 1933 109 b.
107%b. 107% Jan. 108 Jan.
25-year debent. 5s, 1 9 09.......
122% Jan.
121%
Jan.
122
b.
C b .8t.P..M.& O.—Consol. 6s. ’30 121%
98% Jan. 100 Jan.
Ck.8t.L.& Pitts.—1st,con. 5 s,’32 191 u- 100
109
Jan.
108
Jan.
109
C. C. C. & Ind.—Gen. 6s, 1934 .. 1 9 »
100% Jan 102 Jan.
101
Col. Coal & I r o n - 1st, 6s, 1900.. 19£
8878
Jan.
86%
Jan.
86
%b.
Col. H. Val. A Tol.—Con. 5s, ’31 °®
91 Jan.
89 %b 90% Jan.
Gen. gold. 6s, 1904.................. L ? j ,
119%
Jan.
119%
Jan.
119%b.
Denver & Rio G r .-ls t ,7 s , 1900 ll-> ^ 1*
79% Jan.
78% Jan.
79%
1st con. 4s, 1936 ...................... 79%
81%
Jan.
80
Jan.
78
b.
81
Den. A R. Gr. W .- 1st, 6s, 1911.
78 Jan.
76 Jan.
78
77
A s s e n te d ..................................
80 Jan.
80 Jan.
80
Den. So. Pir. A Pac.—1st, 7s, ’05 81
Det. Mac. A M ar—1st. 6s, 1921
53 " J a n .
51
Jan.
53
51%
Land grant 3%s, 1911............
Incom e 7s, 1921.. ....................
99% Jan.
99%
99%
98%
Jan.
E .T en .V .& G. Ry.—Con.,5s, ’56
105 b. 105 Jan. 107% Jan.
Eliz. Lex. & B. S a n d y -6 8 ,1902. 19°
136
Jan.
135
Jan.
133
a.
Erie—1 st. consol, gold, 7s, 1920 l J 4 %p
113%b. 113% Jan. 113% Jan.
Long Dock. 7s, 1893 ............... 1 1 4
116
Jan.
115
Jan.
115
. Con. 6s, 1935..........................
97 Jan 100 Jan.
98%
N.Y.L.E.&W —2d con. 6s, e x c . 98%
92% Jan.
92% Jan.
Funded coupon, 5s, 1969. ..
90% Jan.
Ft. W. & Denv. C. -1 st, 6s. 1921 90% ' "8 9 % "’ 89% Jan.
108
b,
Gal.H ar.& S a n .A n t.-ls t, 6s ,’ 10
110 b, 110% Jan. I l l " j ’an.
2d M., 7s, 1 9 0 5 .................. . . .
100%a 99% Jan, 100 Jan.
West. Division—1st, 5s, 1931. 100
92% Jan.
91%b, 92% Jan.
2d, 6s, 1931...........................
96 b 99 Jan. 100 Jau.
98
b.
Gr’n B.W.& St. P.—1st, 6s, e x cp.
40% Jan.
39% Jan.
40
2d income 8s, 1911................. | 40%
Gulf Col.&San.Fe—1st,7s, 1909 120 b. 121% 121% Jan. 122% Jan.
1 0 1% Jan. 102 Jau.
102
Gold, 6s, 1923.............. ............ 102
Henderson Br.Co.—1st, 6s, 19 3'' 109% 108 %b. 108% Jau. 109% Jan.
113 %a 112% Jan, 114 Jau.
H .& Tex.C.—IstM .L . 7s, con. oft 114
1st, West. I).. 7s,1891.00U. off 108 b 108 b. 108% Jan. 110 Jan.
1 st,W aco A N. 7s, 19u3, cou. oil 109 b. 109 b.
97% Jan.
95% Jan.
96%
2d, consol. M. L. 8s, 1912....... 97%
72 Jan.
Gen. mort. 6s, 1921.................. 71%b. 71%b. 71% Jan.
116%b.
118
b.
Ind.Bl. & W —1st,pref.,7s, 1900
91%
Jan.
96 Jan.
92%
96
1st, 6-6s, 1909............................
84 Jan.
77% Jan.
79
2d, 5-6s, 1909............................ 84
95 Jau.
91 Jan.
91%
Eastern Division—6s, 1 9 2 1 ... 95
34%'Jan.
30%
Jan.
34
31%
Incom e, 6s, 1921......................
Ind. D.& Spr.—Inc. 1906, tr. r e c.. 38%a. 38 a
117
Jan.
117
Jan.
I16%b.
117
Int. A Gt.Nor.—1st, 6s, g o ld ,’ IP
94% Jan.
94%b 93% Jan.
Coupon, 6s, 1909...................... 94
63
b
60 b.
Kent. Centr.—Stamped 4s, 1911
K noxv. & 0 .—1st, 6s, gold, 1925 97 b. 100 a. 100 .Tan. 100 Jan.
110 Jan. 110 Jan.
Lake Erie A W.—1st, 6s, 1919 . 110 b. 110
62 Jan.
40 Jan.
50%
61
Incom e, 7s. 1899....................
112
b.
111 b. 111% Jan. 112 Jau.
Lafay. Bl. & M .- l s t . 6s, 1919 .
87 Jau.
68%
Jan.
85%
75
Incom e, 7s, 1899....................
Long Island—1st, 7s, 1 8 98.......
115
b,
1st, consol., 5s, 1931..............
Lou. A Nasli.—Consol., 7s, 1898 120 b. 119%b 119 Jan. 120 Jan.
N. O. & Mobile—1st, 6s, 1930. 105% 105 %b, 105 Jan. 105% Jan.
93 Jan.
90% Jan.
92
. 2d, 6s, 1930............................. 93
E . H. & N.—1st, 6s, 1919......... 114%b 114 b 115 Jan. 115 Jan.
108%
Jan.
107 Jan.
General, 6s, 19 30...................... 107%b. 107
Trust Bonds. 6s, 1922............. 106% 104% 104% Jan. 106% Jau.
)8 Jan.
98 Jan.
10-40, 6s, 1924......................... 98
Lou. N. A. & Cli.-r 1st, 6s, 1910. 109 b. 110 % 109 Jan. 110% Jan.
6% Jan.
95 a 96% Jau.
Consol., gold, t's, 1916............. 96%
Mem. & Cb’lston—6s, gold, 1924 100 b.
M exican Cen.—New ass.,7s,1911
127% Jan. 128 Jan.
128
Micli. Central—1st, con., 7s, ’02
1st, consol., 5s, 1902...............
114% Jan. 115% Jan.
115
b,
115
D
,
Miss’riPao.—1st, cons., 6s,1920
122 Jan. 122 Jan.
3 d ,7s. 1906............................... 122 b.
104% Jan. 104% Jan.
104
%b
104
%b,
Pac. o f Mo.—1st, 6s, 18 88----2d mort., 7s, 1891.............. . 110 a. 109% 109 Jan. 109% .¡an.
119% Jan. 121% Jan.
121
118%b,
Mil. Lk.Sb. & W.—1st, 6s, 1921
Michigan Div.—1st, 6s. 1924. 116 b 116% 114 Jan. 117 Jan.
10o% Jan.
103% Jan.
115% Jan.
103%
116
114%
135
110%
118% Jan.
116 Jan.
110 Jan.
108 Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
11 8 % Jan.
116 Jau.
I l l Jan.
108 Jan.
Range since Jan. 1.
Lowest.
Highest.
BONDS.
Ill.Ceu.—(Con.)—GTd,3%s,1951 | 98 b.l 98%b.
C. St L. &N. O.—Gold.5s,19511115 b. 115%
LakeSh. —Con.coup., is,7 s,1900 124 b. 124 b.
Con. coup., 2d, 7s, 1903.......... .............. 1*42%
Metro. Elevated.—1st, 6s, 1908. 119
117%
110
2d, 6s. 1 8 9 9 .............................. 110%
Mil. A Nor.—1st, M. L., 6s, 1910 104 b.
1st, on exten., 6s, 1913............1 0 l% b
M orain’s L. & T.—1st, 6s, 1920. 115 b.
1st, 7 8 ,1 9 1 8 ............................................. 125 a.
Nash. Ch. & St. L.—1st, 7s, 1 9 1 3 .............129%
N orfolk & W.—Gen’l, 68 ,193 1.. 113% 112%b.
New River—1st, 6s, 1 9 3 2 ...... 115%a. 115%a.
Imp. A extension, 6s, 1934— )........... I.............
N ote —The letter “ b ” indicates prioe bid, and “ a” price ask ed ; all other prices and the range are from actual sales.
I
133 a. 132 Jan. 132 Jan.
132
Minn. & 8t. L.—1st, 7s, 1927.
89 b.l 90 a.|
Imp. A Equip.—6s, 1 9 2 2 ...
98% Jan. , L00% Jan.
.00%
99%
Mo K .& T ex.—Con., 6s, 1 9 20...
85% Jan. | 8778 Jan.
86%b. 87%
L12 Jan. |L13 Jan.
.12%
113
110 Jan. 1110 Jan.
Mobile A Ohio—New, 6s, 1927 .. 109 b. L10
1st, Extension, 6s, 1927..........
62% Jan. | 65 Jan.
1st pref. debentures, 7 s .......... 6 3 % " 65
36 Jan. 1 36 Jan.
2d pref. debentures, 7 s ........... 33 b. 36
3d pref. debentures, 7 s ..........
4th pref. debentures, 7 s .........
Mutual Un. Tele.—S. f., 6s, 1911 *84% "’ 8 5 " " 84% Jan. j 85% Jan.
105%b. 105% 105% Jan. 105% Jan.
134%b. L33%b. 133% Jan. |134% Jan.
108% Jan. 109 Jan.
,108%b.| 109
....
132 b. L31 b.
97 Jan.
85 Jan.
90
94%
N.Y.Chic.&St.L.—1st, 6s, 1 9 2 1 ..I
83 Jan.
70 %b. 70 Jan.
2d mort., 6s, 1923................... . 82
66% Jan.
6978 Jan.
67%
N.Y. City & No.—Gen., 6s, 1910. 69
121% Jan. 123 Jan.
122% 123
125%b. 125 b. 125% Jan. 126 Jan.
Construction, 5s, 1923........... 109 b.l 109% 10938 Jan. K'9% Jan.
. Y. Ont. A W.—1st. 6s. 1914. 107 b. 107% 107 Jan. 107% Jan.
92% Jan.
90 b. 92% Jan.
92%
71 Jan.
71 a. 71 Jan.
71
I l l b. 112 Jan. 114 Jan.
114
83% Jan.
81%
Jan.
82%
82%
_ O. Pacific—1st, 6s, 1920........
North. Pacific—1st, coup.,6s, ’ 21 116% 116% 115*8 Jan. 11678 Jan.
103%
Jan.
105%
Jan.
104%
105%
Gen’1, 2d, coup., 1933.......
107% Jan.
James R. Val. 1st, 6s, 1936.. ¡107 b. 105 b. 106% Jan. 104%
Jan.
104%
104
Jan.
103
%b.
. Pac. Ter.Co.—1st, 6s, 1933 —
Ohio & Miss.—ConsoL, 7s, 1898. 118%b. 118%b. 118% Jan. 119 Jan..
118
Jan.
118
Jan.
118
2d, consol., 7s. 1911.............. 118 a.
109 Jan. 109 Jan.
............
Springfield Div.—7s, 1905 ..
....
90 b.
1st, general, 5s, 1932...........
105 a. 104% 103% Jan. 104% Jan.
Ohio Southern—1st, 6s, 1921.
47%
Jan.
42%
Jan.
45%
46%
2d, ino., 6s, 1921...................
94% Jan.
93 Jan.
93%
94%
109%b. 109%b. 108 Jan. 109% Jan.
104 M;b. 105% Jan. 106 Jan.
Consol., 5°, 1925..................... 106
102% 101 Jan. 102% Jan.
Oregon & Transoon.—6s, 1922. 102
114 Jan. 114 Jan.
~ eo.D ec. A Evans.—1st, 6s, ’ 2C 114 a.
85 Jan.
81% Jan.
82
85
Income, 6s, 1920.....................
Evansv. D iv— 1st, 6s, 1920.. 110 b. 110 b. 110% Jan. 110% Jan.
84% Jam
82%
79%
Jan.
84%b.
Incom e, 6s, 1920..............
71% Jan.
71%
70 Jan.
70
¡113%
Jan.
l
l
l
%
b
.
113
Jan.
113%
Debenture, 6s, 1927 ..........
106
a.
Debenture, assented...........
115 b. 115 b.
Rooh. A Pitts.—1st, 6s, 1921
107 %b. 107%b.
Consol., 6s, 1922..................
Jan.
Rome W, & Ogd.—1st, 7s. 1891 110 b. 110 a. 110 Jan. |110
Consol., extend., 5s, 19 22... 103% 103% 102% Jan. |l03% Jan.
|102
Jan.
102
Jan.
.
107
b
Incom e, 7s. 1932...................
107%b 107 Jan. |lt>7% Jan.
S t Jo. A G d .Isl.—1st, 6s, 1925 107
I
73%
Jan.
72%
Jau.
71
%b
2d, income, 5s, 1925 — —
114 Jan. 114 Jan.
St L. Alt. A T.H —1st, 7s, 189 114 b
112
b
2d, M., pref., 7s, 1894..........
107 b
[107 % Jan. 108 Jan.
2d., M., ino., 7s, 1894---- - ..
Dividend bds, 6s, 1894 ....... ‘ 37 a
11
ï
b
|ll3% Jan. |114% Jan.
St. L. A Ir. Mt.—1st, 7s, 1892. 114 b
% Jan.
2d mort., 7s, 1897............... - . 113*21» 112 b |113 Jau. I|ll3
99 Jan.
10.) a 97 b | 97 % J an.
6 115 b 113 %b .|ll5% Jan. 115% Jan.
Ian.
6s, Class B, 1906...................... 115 b 113%b. i114% Jau.
...1 1 4 % Jan. 114% Jan.
68, Class C, 1 9 0 6 ..................... 114 b
Gen’l mort., 6s, 1931............... 110% 110%
So. Pac., Mo.—1st, 6s, 1 8 8 8 ... 101 %b.| 100%b.|lul% Jan.
St. Paul M. A M.—1st, 7s, 1909. 109 b. 110 b.
1118 "
2d, 68,1909.............................119119,
1st COUB , bS, 1933 ...................uQi k'
Shenandoah Val.- 1st, 7s, 1909 100
09%
Gen’ l mort., 6s, 1921............... 43
...........
So. Carolina—1st. 6s, 1620........|107%b.|. v ; . . .
2d. 6s, 1931................................ 76 b.l 85
Inc., 6s. 1931............................. 27 %a. 29 a.
So. Pao., Cal —1st, 6s, 1905-12.. 1 1 2 % b .| lll5sb.
So. Pao., A r t—1st, 6s, 1809-10.. 110 b. HO b.
105 %b.
So. Pac., N. M —1st, 6s, 1911.
Tex. A Pac.—Inc. & Id gr, 7s, ’ 15
R io Grande Div.—6s, 1930 ...
Gen. mort. &term., 6s, 19 05..
Tex. & N. O.—Sab. Div., 6s,1912
Tol. A. A. & N. M —1st, 6s, 1924
Tol. A. A. & Gr.Tr.—1st, 6s, 1921
Tol. Peor. & West—1st, 7s, ’17 . 106
Tol. & Ohio Cent.—1st, 5s, 1935 99%
Union P a c ific -ls t , 6s, 1896-9.-1114%
Land grant, 7s, 1837-9............
Sinking fund, 8s, 1893............
Kan. Pacific—1st, 6s, 1895—
1st, 6s, 1 8 9 6 ............... .........
Denver D iv.—6s. 1899.........
1st consol. 6s, 1 9 1 9 ---- . . . .
Oregon Sli. Line -1st, 6s. ’ 22..
Virginia Mid —Inc., 6s, 1 9 2 7 ....
Wab. St.L & Pao. Gen., 6s, ’ 20
Chicago Divison—5s, 1910 ..
Waba sh—Mortgage, 7 s, 1909.
Tol. & Wab.—1st, ext,. 7s, ’90
1st, St. L .D iv.. 7s, 1 8 8 9 ....
2d, extended, 7s. 1893........
Con., conv., 7s, 1 9 0 7 ...----Great West.—1st, 7s, 1 8 8 8 ...
2d, 7s. 1893...........................
St.L.K.C. &N.—R.e& r.,7s,’95
West Shore—Guar., 48..............
IN A C T IV E
Burl. C. Rap. & N. 1st, 5s, 1906.
Consol. A col. tr., 5s. 1934 —
Central Pacific—gold 6s. 1895-8
San Joaquin Br. 6s, 1900.........
Land grant 6s. 1890................
Ohio. & E. 111.—1st, s. f. 6s, 1907
Consol. 6s, 1934........................
Chi. R. I. & Pac.—6s, coup. 1917.
Exten. & tol. 5s, 1934----------Del. & Hud. Can.—1st, 7s, 1891
Coupon 7s. 1894. ...................
Evans. &T. H.—1st cons. 6s, ’ 21
Mount Vernon—1st, 6s, 1923.
I ll Central—1st. gold, 4 s, 1951
Closin'/.
Jem. 14 j.Tan. 7
98 Jan
115% Jan.
99% Jan.
115% Jan.
122% Jan.
117 Jan.
110 Jan.
123% Jan.
119 Jan.
110% J»n.
101 ' Jan.
103
Jan.
129% Jan. 129% Jan.
112 Jan. ¡113% Jan.
114% Jan. 114% Jan.
J a n u a r y 15, 1887. J
THE CHRONICLE.
87
New York Local Securities.
SECURITIES.
Bid. j Ask
B ank S tock M at.
... v b o s t o n .
BANKS.
Bid. Ask.
Aten. A Topeka—1st, 7s. 124%:1243« Belvid'e Del.—3d, 6s, ’87
104
BANKS.
Bid. Ask,
“ eu's Gap—1st, 7s, 1893
Lana grant, 7s...
____ ¡12H
116Ha A m erica..... 170
1st, 6s, 1905........
G ¡,ll»tin .. .. 200 ........ V.Y. Coontt
Plain, 5s.................
Am.
E
xoh...
140
200
Con.,68,1913... .
G
arfleld......
Mortgage, 5a.HI” ........ 4IIIIII i ‘0'3”
160
........
Broadway... 268 275
N.Y. Nat-Ex 125 ISO*
BufT. N.Y.A Phil.—ist,*6s
Garm’n Am.. 107 . .. . . . Ninth.......
Mortgage, 4 % s .......... " ........
Butobs’ A Dr 160
130
Cons. 6s, 1921........
Germania... 200 ... . . . N.
Trust 6a.....................
Amerioa. 125
108% 1st, Tr. 6s, 1922___IH.
Central........ 122 Hi
Greenwich.,
112
Bur.AMo.inNeb_E x’fc'ds Ì2Ó
.
.
.
...
C hase........ 160
North Riv’r. 122
Cam.
A
Amboy—6s,
o.,’89
104
lan
over....
157
os non-exempt........ ..... ...... 109% Mart., 6s, 1889........
Oriental__ 160
Chatham...! 210
106%
4s__. . . _________. . . . . .
I na.A Trad’s’ 300 315** P toiflo......... 150
-95
Chemical.... 2200 I
160
Cam. A Atl.—1st,7s,g.,’93 113 116
Irving ...... 138 142
Land grant, 7a
11 r i 6
Park.. . . . . . 167
Citizens’ __ 125
2d,
6s,
1904....
Leather
Mfs’
110
205 . . . . . People’s. . . . 160
California So.—6a............ 110
City............. 290
Cons., 6 p. o............Hill
Manhattan..
Income 6 s ............ .
165
60
70
Paenix_
_
.
Commerce
..
175 179
109 113
Oatawissa—1st, 7s, con. o.
vtarket........ 155
Cons. Vermont, 5s. ..
89%
Continental" 120
iepablio . . . 131 134
s, reg. A coup__ 123 129
Mechanics’ .
Chic. K, C. A West’n—5a 101% 10 Û4 «
170
Corn Exoh... 185
St.Nloholas. 118 12»
Col. & C. M— 1st, 6s. 1914 98 100
vt’ohs’ATrs’
i
ï
o
"
Incomes . . . . . . . . . . . . . . . . .
66
...
.
.
.
East
River..
7th W ard... 107
Connect’g 6s, cp., 1900-04 121 124 Hi 11th Ward., 122
Mercantile.. 135 ........ Sioond.........
Eaat’rn, Mass.—6s, new. 4127%
180
230
Del. A Bound Br.—1st,7s 130
Meronants ’ . 136 . . . . . . SloeALeath
Frem.Elk H. AM o.V.-6s.. 122
fftfth A v e ... 720
136
Duluth Short L., 1st, 5s
M’roh’ ts’ Ex. 104
K. C Fort Scott A G__7s 117
F
irs
t...........
StateofN.Y. 131
200
East Penn.—1st, 7s, 1888
vtetropolit’n
33
K. City Lawr. A So.—6s.. 113
35* Third___
F
iu
rth
........
140
Nassau........ 35
K. City St. jo . A C. B.—7s 4........ Ì26 jEaston&Amb’y—5s, 1920 114
Fulton . . . . . . 151
Tradesmen’s! 104
New York .. 208
K. City Sp’d A Mem.—6s
110% El.AWmsp’t-lst,6s, 1910 117
7 cited St’esl
200
109%
K.C. Clint. A Spring!.—5s
10434 5s, perpetual...........
In su ra n ce S tock L is t.
Little R. A Ft. S.—7a..
114% 114 % Harnsb’g—1st, 6s, 188311 104 106
H.
AB.T.—1st. 7s, g.,
1101890
Hi
Mar. H. A Ont.—1908, 6 s , ___
101
[Quotations by E. S. Bailey, 5 Hi Pine St.]
Cons. 5s, 1895___
1925,6a...... .................. I 596
§96
98
OOMPAN’S.l Bid. i
Mexican Central—4a
54
54% Ithaca&Ath.—1st, gldl,7s
1Bid. Ask.f [COMPAN’S.f Bid.
Scrip.......................
I. eh.V— 1st,68>C.&lR.,’98 123Ha
Ask.
53%
American
2d,
7s,
reg.,1910.........
144
. 170 II8O
7 a ..:............ m i n i
59
69%
235
Amer.
Exoh
N. Y. Equit. 166
. 95 102 Guardian, .. 225
Income..................
17
17% Cons. 6s, C.A R., 1923.. 135 H»
80
85
B ow ery... . . 155 165
N .Y . Fire .. 95
N. O. Pac.—1st, 6s, 1920.
Scrip........... . . . . .
75
76
.. 130 140
Niagara___ 160
No. Penn.—2d, 7s, cp. ’96. Ì20*
. 190 200
Debenture, 10s..........
79
80
.. 150 157
North River 114
Gen., 7s, 1903......
130 iüoi¿
. 180 185
N.Mex.A So.Pac.—7a
I
125
H om e. . . . . 150 165
Paoiflo........ 165
Debenture 6s, reg
125 130
N. Y. A N. England—7s..' 125 126
.. 80
85
C ity ........... 130 135
Park............ 1105
6a................................
117 Norfolk & West.—Gen.,6s iÏ2%
.« 125 130
■
___ - 160
2ds, 6a,...................... ' i’05%105 a* N. R. Div., 1st, 6s.1932 114% 1*15% Clinton...... . 120 127
.. 225 235
People’s
Commercial! 33
N. Y. Phil. A Nor.—1st, 6s -V --I106
36
Ogdensb.A L.Ch.—6a__ !
107
r 100 n o
55 I
Continental, 230 240
Consolidated 6a............ i'oo 100 % Ino.,6s, 1933.................
d
105
n
o
E a g le ......... 260 270
Oil Creek—1st, 6s, coup..
Inoomes........
.
45
- 100 103
105 110
Pueblo A Ark. Val.—7al' 124 1243, Pennsylv.—Gen.. 6s, reg 135 135
B 125 135
132
Gen., 6s, cp., 1910......
105 115
Rutland—1st 6a....*...
107%
Mechanics’
95
Cons., 6s, reg., 1905___
5a...............................I..
130 140 Mercantile. 90
94»,
87
72
Cons., 6s, coup., 1905... 126 ,130
103 1n o
1003,
Sonthem Kansas—5s......
Merchants’
n
o
115
110
Cons., 58, reg., 1919___
German-Ami 290 1305
I n c o m e s ........... .
80
102 107
Germania... 150 155
103s, Pa. A N. Y . O.—7s, 1896. 121
Sonora—7 s .................. .. 102
145 150 |v
7,1906........................... 129
G lobe.
115 120 1
Wisconsin Cent.—ls t serl 93», 94
100 110 1
2d aeries........................
67
57JÍ Perkiomen—1st, 6s,op.’87 99%
104
Phil.
AErie—1st,7s,op.
’88
STOCKS 1
Cons., 6s, 1920..............
Atchison & Topeka . . . . . .
97% 97%
Cons., 5s, 1920.............. ÏÏÏ%
strw t.
Boston A Albany............ 199 s, 199% Phila.
A N.Y__1st
G 48 C O M P A N IE S .
Boston A L o w e ll.......... 136 136% Phil. ANewt.
(Bid. 1Af*-|
R.—1st,6s, 1910..
GAS COMPANIES.
128
Bid.
Ask.
Boston & Maine . . . . . . . . . . 2u8 209
2d, 7s, coup. A reg.,1893 113 114
Brooklyn Gas-Light...
Boston & Providence _.. > 216 216
100 103 People’ s (B klyn)-ad s, 6s
Cons., 7s, reg., 1911___I
122Hi Citizens’ Gas-Light
100
Boston Con. A M.. prefll [2100 154
55
60
1
Cons.,
7s,
coup.,
1911..
Williamsburg..
.
.
.
.
.
Bonds, 5s ...
.......... 100 104
120 125
Boston Revere B. A Lynn i 102% 103% Cons., 6s, g., I.R.0.1911 112 122
Bonds, 6s...... ................
Consolidated Gas' I*.*.*.".Ill* e 4
114
36%
California Southern........
84% Metropolitan (Bkiyuli** 110
Imp., 6s, g., coup., 1897 100 104** Jersey
72
City A Hoboken
75
Central of Massachusetts *1*8% 19% Gen.,
160
102
6s,
g.,
coup.,
1908
102 % M atropolitan—Bonds
Municipal—Bonds, 7s.III 105 110
Preferred....................... 45 Si ¡,46%
114
117
Gen., 7s, coup., 1908___
F niton Wumcipal .
102
Mutual (N. Y .)................. 96 100
130 135
Cheshire, preferred ....II
Income,
7s,
coup.,
1896
Bcoidi*,
6s.........
57 Hi
Bonds, 6 s ..................... 102 103
105 109
Ì03% ib i
Chic. A East’n Illinois.
Conv. Adi. Sorip, *85-89
Equitabifi..........I.’.".*,**** * 110 115
Nassau (Bkiyn.)IIIII........ 100 103
Chie. Burl. & North’n___ 83
Cons. 5s, 1st ser.,0.,1922
Bonds, 6s..............
' 71**
S orip :..........
........ 100 101
n o 1L3
Chio. A West Michigan.. 593^ 60
Cons.
5s,
2d
ser.,0.,1933
50
People’s (Bklyn.V.V.'-!!'"I 50
Cinn. Sandusky A Cleve. 27% 28
55
Debenture coup., 18931
50
Cleveland & Canton.......)
7
Conv., 7s, R. C., 1893..1 445
28 s4 *29
Preferred.....................
[City HR. Quotations by H. L, G b 4NT, Broker. 145 Broadway j
Conv.
7s,
op.off,
Jan.,’85
Col. Spiingf. A Cin..IIIII 25 ^ 26
Deferred incomes, cp ...
81’oker St. A Fuit. F
120
Conoord................. ... .
Phil. Wil. A Balt.—4s.tr.ct 101 lOlHi I ist mort., 7s, 1900 .Hit .[ 2 8 1 30 , Pi PVh'P* A B —¿«rip, 6si105 1107
i 92
Connecticut River..HHII'
112 n s 1
Pitts. Cin. A St. L.—7 s.... 124 Hi
A v.—stock
190
Br’dway
A 7th A v.—St”~ . 210 I230
Conn. A Paasumpsic ...II 4____ 115
Pitts. Titus. A B.—7s,op. 35
Scrip, 6s, 1914 ....H I. * 107 200
1st mort., 5s, 1904
109
Dot. Lansing A No., pref!
110
. 103 106 42ii
ShamokinV. A Potts.—7s 121
A
Gr’nd
sc.
P’ry—Stk
210 225
124
Eastern____ . . . . . . . . . . .
_______ 105
Sunbury A Erie—1st, 7s.
1st mort., 7s, 1893......... 112 117
Fitchbftrg. . . . ...im .IIH Ì3Ò 133
-------wun.RUi,i.
„
.
.
.
.
.
.
100
Sun is. Haz. A W.—1st, 5s Í03*
42d St. Manh. A St. N.Ave
31
35
Flint A Pere Marquette. 30
Bonds gaar.,5s. 1905
2d, 6s,1938...............
1st mort., 6s, 1910 ... . 107 108
99
94%
City—stock
Preferred..............
180 190
2d mort., income, 6s......
119 Brooklyn
7Ó
lst mort., 5s, 1902 .1111 100 n o
49
Iowa Falls A Sioux City.’ 09
sceast. W.St.A P. P” v_stk 120 130
Bklyn. Crossr.own—stock 165 175
Kan. C. Clin. A Springrd
Tex. A Pac.—1st, 6s,1905 110
lst mort., 7s, 1894 ...
n o 112
lst mort., 7s, 1888 ..
Kan. City Ft. S. A G u lf..
108
98 100
Consol.,08, 1905..........
Ninth A ve...............
Preferred......................
«ushw’k
Av.
(Bkin;—St’l
100
150
155 Second Av.—S tock ..........
Union A Titusv.—1st, 7s.
30
67
Central
Crosstown—stk
Kan. C. Spring!. A MemI
180
155 165
United
N.
J.—Cons.6s,’94
lst
mort.,
5s,
1910........
115
47s« Cons. 6s, gold, 1901.... 115
105 107
lst mort., 6s, 1922 ___" 116 120
Little Rock & Ft. Smith. 47
Consol., 7s, 1888 ..IIIIII 101
Maine Central................. 145 ^
Cent.
Pk.
N.
a K. Kiv_stt
120 SlCthAv.—stock . . . . . . .
Cons. 6s, gold, 1908___
Consol., 7s, 1902......... Ì18 121
20*0*"
Manchester & Lawrence. ----Gen., 4s, gold, 1923___
1st morr., 7s, 1890
iio* 115
Obrist’pb-rAlor.h s t—Stk 120 130 Third
Marq. Hought’n&Onton. *......
Warren A F.—1st, 7 s,’96
A v.-st.iw «
n o 115
Preferred....................... ......
Bonds,
7s,
1898...........
n
o
112%! Bonds, 7s, 1890 .".*.*.11111 105
112
West
Chester—Cons.
7
s..
Ory Dk. E.ü .a Bat’v—Stk ......... 160 1
106
Mexican Central____ .HI 18
W. J ersev—1st, 6s, op.,’96 113
nty-chiro sr.__«»took" 235 240
lst mort.. 7s, 1893
N. Y. & New England ..I 027( 53
n o 112%_ Tw
1st, 7s, 1899.................. 126
TT
. :— ------- — ___________
n t wort., 7s, 1893 . . . . . . 112 ii.
P referred...... ...
..... . 125% Cons.
114
6s,
1909...............
126
%
|
Northern....................HII *26
Unlisted Secanties.—Quotations from both Exchanges:
W. J erseyAAtl.—1st,6s,G
Norwich A W orcester...
Penn.—6s, oenp. 106*
Ogdensb. A L. Champlain 4........ 18*" Western
6s,
P.
B.,
1896...........
1.
109
SECURITIES.
Bid. Ask.'
110
179
Old Colony....................... 178
SECURITIES.
Bid. Ask
5s, reg., 1923........... .
Portland Saco A Portsm 182
Am. Bank Note C o....
CANAL BONDS.
38% Kanawha A Ohio ■1st 6s, 74
Ports. Gt. Falls A Con’y. 117 iïé* Ches.
_00 | Araer. Tel. A Cable........
A
Del.—1st,
6s,1886
73
76
*
\
t-ely
M
o
to
r......
Rutland......................
8 s#
9
Atch.A Pike’s Peak,lst,0s 100 110
Nav.—4%s, 1914. 112
37* Lehigh
Mexican State 3s!...........
Preferred................„'Ill 86
Mort. RR., reg., 1897 .. 4118 ........ Bank.AMerch.Tel.,gen.M:
10
Mexican National ....** T o ”
Summit B ranch......H ill
9
Cons.,
7s,
reg.,
1911___
129
........
I
Bost.H.
T.A
West.—Stk.
10
Pref........................... j j 29%
Wisconsin Central........I 23 7,
f—
i
Debentures.
Pennsylv.—6s, cp., 1910..
1st mort.........
Preferred.....................
¿34
40
41
Brooklyn Elev’d—stockll
Schuylk. Nav.—1st,0s,rg
Mich, a Ohio........H**
Worcester Nash’aA Roch 4186
I
ls t m o rt..........
2d, 6s, reg., 1907........... 254
105%
New Jersey A N. Y ...........
......*
2d m o rt............H U " 78
N
.Y
.
A
Green’d
Lake,1st
P H IL A D E L P H IA .
30
California Pacific*. IHIIII
2d mort..........................
6
lst mort., 7 s........ .
Ra i l r o a d s t o c k s , i
6 A L T IM O R E .
N. Y. City A Northern....
"Off. N.Y. A Phil.,as8.pd. 10% 10%
Cape Fear A Yad.Vaf.’.’fst
973* N. Y. W. Sh. A B.—Stock. * 2*
Preferred................. .
Chic. A Atlantic.—Benef
9
%
North. Pao.—Div. bands.. 95% 97
18
Camden A Atlantio...IIII
Chio.AInd. Coal R’yCo.,
Atlanta A Charlotte....
90
92 , P r e f ............................... 45 %l 47% North Riv. Cons.-Scrip..
5% 0%
Preferred......................
41%jBaltimore
85
A Ohio ...100 168 Hi
Pehsacola .A Atlantio___ 15
19
Oatawissa—1st preferred
l.l
I Ches. AO., ser. B,def. scrip
5
0
%
1st
pref......................
1st mort....................
2d preferred..................1 53
1
Cont.
Cons.
Imp.
C
o.....
2d pref..... ................. .II
Pittsb. A Western ..IHIII
Denv. A Rio Gr.W.......... I 2 1 % 22
Delaware A Bound Brook 4148
Parkersburg
Br.......50
7
lst
mort...........
.
I..1*111
*ast Pennsylvania........
49%
ls t assessment............ I
Central Ohio—Com... 50 50
Postal Tel.ACab.,when iss
41
Elmira & Williamsport.
Des Moines A Ft. Dodge.. 1*5
Pref.............. .
51
Rome A Decatur, lst M
Preferred...........
4 64
Preferred..........
22
Western
Maryland
....6
0
St. Louis Ft. s. A Wich
13
13% East A West R R. of Al'iH 26%
Kuntingd’u A Broad Top
17
26%'
RAILROAD
BONDS.
St. Paul E,A Gr. T r.,lst6 s
Preferred___
alili!!
Flint
A
Pere
Marquette..
35
29%
A Chari.—let
Tol. X. A. A N. M ....;.. ..
I 2II9
fttoigh Valley........ HIIH 6618 66Hi Atlanta
Pref..................... .
93%
Tnc............................
103 Hi 104
Utah Central.—lst, 6s»... 80
iy.ttle Schuylkill........... 4 —
Georgia Pac__Stock.I.IH
58
Baltimore A Ohio^AsIIH
Vicksb. A M eridian.....
105
Mtnehill A Sch. H aven... 57 Hi 58
lst
6s................
108 "j
Cen. Ohio.—6s, 1st,M.AS. ibdV 07%
Pref................................ *
« esqnehoning V alley... .
2ds..........................nil** 61
54Hi
64
Chari.
Col.
A
Aug.—ls
t..
ist mort.......minim
113%
114
Northern C e n tra l.........
Kanawha A OUoII.III
*78*
6%
114
2d
mort................... IIHII
*72"
lst
pref.....................
2334
Cin. "wash. A Bait.—i sts". IOS»,
I n c o m e s ..........
Peuns--6nn8ylvailia
2d p ref............ .......... HI 11 %
56s« 58%
2ds...................
West N. Car.—ls t mbit.*.*.’
82%
P^r-Tejphia A Erie.......
27
3 d s..................... .......... 40
48%
Phtio* S er- * Norristown ii*6** 118
1st Inc., 5s, 1931.IIHII 27
31
Boston Banks.—Following are the totals of the Boston bank*:
Newtown A N .Y
ColnmbiaA Greenv.—lst* 110 110%
&
R eading..;..
19
2ds.........................
19 ¡a
91
1887.
Loans.
95
Specie. L. T’nders. Deposi ts.* Circula’n ! A g g .C l’nga,
fe ^ W ilm . A S a it .!....
No.
Central—4His,
j’.'a Ï*
107%
216 215*0 6s, 1900, A. A O___
$
|eeW e«ey.C°.mPai1168” i 60 s« 60 »4 6s, gold. 1900, J. A J ...I 123
$
*
9
121
Jan. 1 142,576,800 10,534,100
"Mt Jersey A Atlantic.I
48 Hi 5s, Series A ................... 110
107,625,800 13,131,900 82,484,685
» 8 144,022,200 11,303,400 3,337.600
2,890,000 108,868,900 13,126,800 90,977,08*
5s, Series B ......... . .... I
rJ& N A L STOCKS.
& n h Navigation.........
50% 50% Pittsb.ACon’ells.—7sJAJ Ì23*
«cbuylkili Nav., pref___
5
6*s Union RR.—1st, gua.JAJ 115 118%
Philadelphia Banks.—The totals have been as follows:
Canton endorsed.
^
hoad b o n d s.
Virginia A Tenn.—5s
120
1887.
Loans.
L a w fu l M o n 'y Deposits.*
8s...................... .
'•HE. ext., 1910....I ... 113
Circula’n Agg.Cl’ngfl.
;M d.—68,3d’guar.',J.AJ
126
V A ’ £nd->«»VP-. *94 22
*24*' ^
9
Wilm. C. A Aug.—6s___
$
$
121
$
8sde—Certs.
Jan. 1 . ... 85,9 98 ,4 0 0
$
112 s« Wil. A Weiaon—5s. .
2
2,113,900
8
3,995,200
-SSS 6 Del.—! st.Ba,1902______
112 112%
4 ,0 2 3 ,7 5 0
4 7,5 12 ,4 3 8
116
“
8 ........ 8 0 ,3 24 ,2 0 0
7s
SECURITIES.
* B^dtodend. f per share, t In default. 4Last price tMs w e 5
120
Bid.
2 2,210,400
8 1,050,400
*including the item “ due to other banks.”
4 ,0 1 8 ,7 6 0
7 4 ,3 2 0 ,1 5 4
[ V o l . X L IY .
THE CHRONICLE.
88
New York City B a n k s.-T h e follow ing^ ÿ e m e n tsh o m the
condition of the Associated Banks of New York City for the
week ending January 8, 1886:
Latest Earnings Reported.
roads.
Weekor Mo\
1886.
IJan. 1 to Latest Date.
1885.
1886.
1885.
SB
451,901
38Ÿ.991
43,3281
244.J92
96,339
10,471
2,524,380
2,546,528
51,026
37,346 1,561,416 1,511,461
235,570
.............
26,2*5*3
217.134
180,748
19,319
626.825
541,469
88,108
343,897
311,300
54,894
852,586
721,004
68,715
212,046 1,531,407 1,146,592
694,459
732,927
70,308
272.012 2,583,978 2,412,448
630,009
Inch Deo. & Spr. (December. I
Jack.Tam.AK.W November,
K.
C.Ft.8. A G ulf. 41bAvk Dec
Kan. C. Sp. & M. 4th wk Dec
Kan. C.C1. & 8 p .U th w k D cc
Keokuk & West O ctob er. . .
*
665.000
LehighAHudeon D( cem ber.
New Y o r k . . . . . . . . . 10,580.000
403.000
L. Rk. & Ft.Smitb November.
9.835.000
Manhattan O o ... .
45,000
682,900
L.Rk.M .R & Tex November.
0,203.400
Merchants’ . . . . . . .
443.000
Louis.Ev.ASt.L. December.
Mechanics’ . . . . . . - 8.092.000
418.700 i
Louisv.N.O. AT. November.
America ............... 10.975,500
20,000
!
8.080.000
P hen ix.____... . . .
Lykens V alley. November.
261.000
1
7.900.800
C ity ......................
Maine Central.. O cto b e r...
160.700
2.6f 0 800
Tradesmen’s ........
Manhattan E l... December
101,800 „
1.292.500
P u lton ..................
1,587,100
2
Mar.
& No. G a.. O ctob er..
l9.4X8.500
Chemical.............
174.300
Mar.Hough.A O. 4th w kD eo
3.355.800
Merchants’ Exch
078.100
0
.
200,000
Memphis
AChas. 4th wk Doc
Gallatin National.
81.700
1.784.500
*Mex.N.,all lines November.
Butchers’ A Drov.
228.000
1.672.000
Mich.
&
O
h io... December.
Mechanics’ A Tr..
187.100
1.087.400
Greenwich.......... J
Minn’ap. & St.L. November
284.400
8.810.400
Leather Mannl’rs.
Miss.
&
Tenn.. December,
66.300
1.172.600
Seventh W ard....
a Mobile & Ohio. December.
231.700
8.574.100
State o f N. Y .......
Nash.
Ch.
A
St.L.
November.
919.000
1
Americ’n Bxoh’ge. 16.429.000
TIN.Y .C .A H .R ... IDecember.
822.400 1
Commerce............ 18.419.800
289,800
N.Y.L.ErieAW.
5.878.100
B roadw ay............
404.700
6.208.500
N. Y . Pa. A O.
Mercantile............
104.000
2.580.500
N.Y. A New Eng.
P a cific. . . . . . . . . . »
309,200
7.083.600
R ep u blic..............
N.Y.Susq.AWest
302.900
4.196.200
Chatham.............
Northern Cent’l.
116.300
1.949.000
Peoples’ ...............
Ohio A M iss.......
198.500
2.995.000
North A m erica..
180 000 Ohio Southern..
487.300
10.697.800
183,700
Hanover..............
269,100
2.920.000
45,000 Oregon Imp. Co.
I r v in g .. . . . . . . . . . . .
138.500
Oreg. R. A N. Co.
2,461,700
Citizens’ . . . . . . . . . .
292.900
2.679.500
N a s s a u .. . . . . . . . . .
4*84,Ï00 Oreg. Short Line
96.800
2.964.300
Pennsylvania..
M arket.................
80.800
1.904.000
St. N icholas........
4*35,800 Phlla. A E rie—
292.000
3.402.000
Shoe A Leather..
Phila. A Reading
238.000
5.998.900
Corn Exohange. ..
49,500
Do C. A Iron
420.000
4.682.200
Continental.........
Riohm’d ADanv
828.700
2.030.000
Oriental...............
1,021,600
Va.Midl’d Div
Importers’A 1 rad 18.735.400
1.259.300
So. Car. Div.
P a rk ..................... 19.094.900
148.000
1.937.000
C ol.A G r.D iv.
North Blver........
142.700
1.208.300
West.No.C.Div,— ----- ----East River..........
861.300
Wash.O. A W .. IDecember
Fourth National. 18,467.800
1,072,000
2,456.199
8.601.000
Central National.
tRorne W.A Ogd. November
214.000
1.267,03
3.030.000
Beoond National.
8t.L.
AltonAT.H. 4th wk Dec
360.600
5.211.300
7,393,884
Ninth National..
st.P.M in.AM an. December.
540.000
622,198
First National... 19.707.900
Scioto
Valley
.
.
.
November
258.200
5,168,600
636,779
Third N ational...
686,340
201,500 Shenandoah Val November
184.800
1.274.300
N .Y . Nat. E xch ..
223,300 South Carolina.. (November
1,022,638 1,029,331
844,100
2.525.100
Bowery ................
lfc’O
0
0
0
146.900
2.180.100
So.Pac.Comp’y N . Y . County......
2,522,432
126.400
2,63n,500
German-Americ’n.
Gal.Har.AS. A.
*45*000
214.700
3.757.500
Chase National...
G.W .Tex.AP...
4*84.433
99,300
3.805.000
Fifth Avenue......
Louis’a West.
460.000
3,218,029
2.392.000
German Exoh’nge,
Morgan’s LAT
400.600
2.388.100
Germania.............
N. Y .T . A M ex.
65,200
4.391.500
80Ò",2*4*2
United States......
146,300
Tex. A N. o r l .
2.416.900
7,223,274
Lincoln . . . . . . . . . . . .
117.800
Tot.At.System
1.577.900
17,915,610
Garfield............—
149.900
1.392,200
Tot. Pao. Sys..
Fifth National....
25,138.881
250.200
3.739.100
Total of ail—
B’k of the Metrop.
669,624
307.400
1.734.100
Staten
Isl’d R.Tr
W est Side............
1,285,507
141,61:0
2.121.500
Seaboard...............
Summit Branch
5,672,484
80,000
1.754.500
Sixth National...
Texas A Pacific
'ol.A. A . A N . M.
348,479,800 85.505,200 21,812.200 370.138,9001 7.896,800
; 24,260*254 23,371,557
T o ta l..
Union P acific..
.........
561,576
? O hio..
12,806,316 11,936,297
______ L. A P.
Agg.
Clear’gs
V
¡I
1,268,891
1,199.118
Circulation
Deposits.
L.
Tenders.
Specie.
W est J ersey
1886-71 Loans.
»
. - « F o r nurnoses of comparison, St. Louis A Cairo, now operated by
9
$
604.768,528
7,903,000
351,672,400
17,847,300
77,303,000
in noth ve.ars from andafter July 1.
Deo.24 343,494,100
526,272,255 ti a _ . . P . l ’ 5SSJ
31 343,087,500 32.718,100 19,370,400 359,263,000 7,911,500 808,769,152
Not including earnings o fN e w Y ork ^ M e ^ c a n c u r ^ n c y °*
Jan. 8|348’.479|30ol85,509,200 21,312.200 370,133,900 7,896,800
U Including w est Shoie in 1886.
M exican currency.
+ And B r a n c h e s . ________________ ~ - •
_____ ________
RAILROAD EARNINGS.
Average Amount of—
Net Deposita
other
Specie.
than Ü. 8.
Bank».
T h e latest railroad earnings and the totals from Jan. 1 to
latest date are given below. The statement includes the gross
earnings of all railroads from which returns can be obtained.
Latest Earning» Reported.
R o ad s.
Week or Mo
1886.
1885.
Jan. 1 to Latest Date.
1886.
1885.
$
,603,413 14 ,459,378 14,318,024
249,712
238,295
27,410
,226,236 1,215,247
115,831
,9 a3,309 3,093,514
266,909
740,698
531,128
569.693
30,513
205,968
226,700
17,865
,307,006 12,297,132
,480,588
3,361,234
,095,167
314,195
706,467
935,683
57,73
,711,950 1,571,155
147,586
,035,826 7,993,170
158.&60
,359,977 24,226,452
,318,053
,296,293 24,301.058
601,200
,152,116 5,814,810
130,800
118,202
165,432
12,019
,856.570 2,681,547
100,553
,213,686 1,076,186
39,504
698,165
661,064
30,755
486,232
524,197
26,066
449.580
523,071
23,878
493,889
525,027
11,830
264,832
327,555
22,516
362,084 3,427,536 2,994,356
$
$
Atoh. T. A 8. F . . November. 1,719,355
34,056
«Sonora........... O ctob er...
Balt. A Potomac November. 117,393
Bnr.Ced.R. A N o . December. 306,779
90,408
Cal. Southern .D ecem ber.
31,810
tCamden A Atl
20,817
Cp.F’rAY ad. Val
1,508,755
Central Pacific.
339,300
Ohesap. A Ohio.
79,000
Eliz.Lex.AB.S.
165,500
Ches. O. A 8. W.
159,214
Chicago A Alton
2,256,340
Ohio. Burl. A Q.
611,100
Ohio. A Northw.
154,900
Ch.St.P.Min.AO.
16,009
Cin. J. A Mack..
103,452
Cln. N. O. AT.P.
44,550
Ala. Gt. South. — ----29,673
Iff. Orl. A N. E. 4tn w kD ec
24,649
Vlcksh. A Mer, 4th wk Dec
28,692
Vicks. Sh. A P.
-12.859
d e v . Akron A Col
31,292
Clev. A Canton.
403,683
Clev.Col.C. A Ind
24.897
Clev. A Marietta
243,557 209,416 2,452,027 2,311,004
CoL Hock.V.AT.
208,177
218,724
17,313
18,543
Danbury A Nor.
74,238 1,051,900 1,021,089
90,5i 0
D env. A R. G. W.
188,673
28,00'
Det.B.CityAAlp
112,4Ù
122,021
ika.Ry.AN av.Co
463,6
444,125
33,361
44,954
Ft. W. ADen. City
594,962
749,117,
72,919
97,153
Georgia Pacific..
333,098 314,942 17,147,871 15,161,807
Grand Trunk ..
1,*49,429
2,288,028
200,732
234.689
Gulf Col. A S. Fe
58,8961 3,077,787 2,757,244
66,076
Hous.ATex.Ccnl
10,745,200 10,942.9i
L,126,461
I,
081,76
IlLOent. (111.ASo)
140,1';
171,5001
12,4471 15,454
Cedar F. AMin.
911,631
948.300
87,367
79.743
Dub.ASioux C
626,528
635.300
57,860
59,054
la . Falls A S.C.
1,678,336
1,755,200
151.2441 160,681
Tot. Iow a lines
,287,1411 12.500.400 12,621,264
233,005
Total all lines. D ecem ber. II,
* M exican currency.
JA nd branches.
First week o f January.
1887.
Buff. N. Y . A Phila--------Buf. Roch. A Pittsburg...
Cairo Vin. A Chic.............
Canadian Pacific..............
Central I o w a .. ...............
Chicago A A tla n tic.. . . . . .
Chicago A East. Illinois.
Chio. Mil. A St. P a u l.......
Chicago A West Mich . . . .
Cincinnati Ham. A D ay..
Cin. Ind. S L L . A C .
Cincinnati Rich. A Ft. W.
Cincinnati Wash. A Balt.
Col. A Cin. Midland.........
Denver A Rio G ra n d e....
Des Moines A Fort Dodge
Det. Lansing A Northern.
East Tenn. Va. A G a .—
Evansville A Terre H —
Flint A Pere Marquette..
Grand Rapids A I n d .....
Indiana Bloom. A W est..
Lake Erie A Western----Long Islan d................... ■
Louisville A N ash ville..
Louisv. New Alb. A Chic.
M exican Central...........
Milwaukee L. S. A W est.
Milwaukee A N orth ern.
Minnesota A Northwest
N. Y. City A Northern ..
N. Y. Ont. A Western —
Norfolk A W estern..........
Northern Pacific......... .
Peoria Dee. A Evansville’
St. Jos. A Grand Island..
St. L. Alt. A T . H —B is ...
St. Louis Ark. A Texas ..
St. Louis A San Fran —
St. Paul A D u lu t h ........
Toledo A Ohio C entral. ..
Wisconsin Central............
Minu. St. Croix A W is..
Wisconsin A Minnesota
38,800
26,136
14,380
157.000
20,461
22,978
37,322
345.000
16,977
49,351
46,943
6,073
41,676
6,178
118,588
5,332
15,623
86,418
12,068
37,584
31,059
46,513
23.178
45,145
239,215
25,660
86,225
26,425
11,976
12.178
8,673
18,525
64,531
129,095
13,572
21,135
11,900
33,050
68,679
27,553
17,166
22.198
4,724
8,980
Total (44 r o a d s)....... .
Net increase (18-45 p. et.
2,102,243
1886.
$
39,500
26,627
7,196
117,000
18,760
24,037
31,322
325,629
18,589
46,401
40,400
4,583
35,56o
5,251
80,980
2,896
13,582
77,953
11,074
33,110
23,722
42,095
17,005
44,090
227,025
24,625
63,862
17,550
8.498
2,994
9,056
18,024
51,264
10
8,963
8.699
10,674
28,398
55
13,182
9.726
17,’,977
¡,086
1,816
1,774,792
Increase.
Decrease.
700
491
7,184
40,000
1,701
6,000
19,371
1,059
*1,612
2,950
6,543
1,490
6,110
927
37,608
2,436
2,041
8,465
994
4,474
7,337
4,418
6,173
1,055
12,190
1,035
22,363
8,875
3,478
9,184
383
505
13,267
21,617
4,609’
12,430
1,226
4,652
13,152
14,371
7,440
4,221
2,638
7,164
331,696
327,451
4,245
THE CHRONICLE.
January 15, 1887.J
%u v je s t ro z u t
sion the report states that a change in the method of man
aging the companies has been made which will result in in
creased savings and large savings to the company.
The operations of the Central Railroad Company of New
Jersey were as follows:
AND
%xi Xv ax &
%utzlliQtutz.
The Investors’ Supplement contains a complete exhibit of
the Funded Debt o f States and Cities and o f the Stocks and
Bonds o f Railroads and other Companies. It Is published
on the last Saturday o f every other month—viz., February,
April, June, August, October and December, and is f u r
nished without extra charge to all regular subscribers o f the
Chronicle. E xtra copies are sold to subscribers o f the
Chronicle at 50 cents each, and to others at $1 per copy.
ANNUAL REPORTS.
Receipts—
Coal traffic...................................................
Mercliaudlse........................
Passengers............................ : ......................
Miscellaneous................
1880.
$ 5 ,I73.985
2.8-13,701
2^219,28?»
463,746
1889.
$1,390,550
2,347,662
2, 150,371
411,880
Totals....... ................................................ $10,690,719
Expenses........................................................
6,0: 0 012
$10,300,465
5,699,199
Net earnings....... ..................................
Fixed charges, including dividend.........
$4,610,706
5,960.792
$4,601,265
5,939,643
Deflett......................................................
$1,270,035
$1,338,377
Buffalo
& Reading-.
(For the year ending Nov. 30,1886.)
P h iladelph ia
A t the annual meeting of stockholders in Philadelphia
there was only one ticket offered, as follows: President, Austin
Corbin; Managers, I. V . Williamson, John Wanamaker, A .
J. Antelo, Peter C. Hollis, Samuel R. Shipley, Thomas Coch
ran; Treasurer, W illiam A . Church; Secretary, William R.
Taylor. This ticket was elected by a vote of 133,965 shares.
The only changes in the Board of Managers are the substitu
tion of Messrs. Shipley and Cochran for Messrs. Hostetter and
Watson, and of Treasurer Church for Mr. W . W . Harkness.
Mr. Church is Treasurer to the receivers, and will now act as
Treasurer to the corporation as well.
Mr. Corbin read the annual report, from which and from the
current report of earnings the following statistics are com
piled. The tonnage and passengers compared as follows with
the preceding y e a r :
TONNAGE AND PASSENGERS.
Tons of coal carried on R R ...................
Tons o f merchandise carried on H R ..
Passengers carried ou R R .....................
Tons of coal carried by steam colliers.
1885-86.
13,124,168-18
10,659,852-05
25,600,760
524,443*00
1884-85.
12,530,^93-11
8.39r,743-C0
23,531,037
553,565*01
Tens o f coal mined b y Coal <fe Iron Co.
Tons o f coal mined by t e n a n t s ........
5,616,363*04
592,839*03
5,236,528*05
803,650*07
Total mined from lands owned and
controlled b y Coal & Iron Co.
and from leasehold estates..........
Note .—Coal 2,240 pounds per ton.
ton.
89
6,209,202 07
6,040,178*12
Merchandise 2,COO pounds per
New York
&
Philadelphia.
(For the year ending Sept. 80, 1886.)
The President’s report states that the road being operated by
a receiver, there were no charges to betterments and improve
ments, all such items being included in operating expenses.
Betterments have only been made by authority of the Court,
the cost included in operating expenditure monthly, and duly
audited by the Special Master. About $200,000 was thus ex
pended for renewals and betterments.
The receiver, under authority of the Court, has contracted
for 300 coal cars. Over 4,000 tons of steel rails were also con
tracted for under authority of the Court. A portion of them
is yet to be laid.
“ The increased business has enabled the receiver to operate
the road at a very low figure— 3*97 mills per ton per mile—
which figure cannot be maintained with less tonnage. The
miscellaneous _local tonnage in the last six months has in
creased over 75 per cent as compared with the previous year,
and from this tonnage your greatest revenue has been ob
tained.” * * *
The increase in operating expenses is explained as follows :
In conducting transportation the increase of 11 per cent,
$69,723, is due to increase of over 35 per cent in ton mileage.
The increase in motive power of $73,487 is caused by the re
newal of ten locomotives, together with the increase of ton
mileage, as stated above. Maintenance of cars has increased
$37,652 in the repairs of cars. Maintenance of way shows an
increase of $121,079, about half of which is due to renewals
of rails and ties.
The ratio of operating expenses to earnings shows an in
crease, being in 1885 74 5-10 per cent, while this year, 1886, it
is 78 8-10 per cen t; this shows the effect of the low rates that
have prevailed.
Comparative statistics for four years, compiled for the
C h r o n i c l e , are as follows :
The average rate received from coal per ton per mile was
•978 cents, against 1*072 cents in 1835 and 1*293 cents in 1884.
The merchandise rate was 1*515 cents, against 1502 cents in
1885 and 1 *723 cents in 1884. For passengers the rate per
mile was 1*821 cents, against 1*843 cents in 1885 and 1*884
cents in 1884.
OPERATIONS AND FISCAL RESULTS,
The report gives an exhibit of the gross and net earnings of
Operations—
1882-83.
1883-84.
1884-85
the two companies as follows :
Passengers carried ... 1,162,363
1,173,439
1,168,402
PHILADELPHIA <fc READING RAILROAD COMPANY.
-------------- 1885-6.------------- . ---------—-1881-5.------------- ,
Receipts. Net earnings.
Receipts. Net earninos.
Railroads....... ..
$28,8*4,982 $13,375,645 $27,343,066 $11,922,525
Canals......................
611,169
110,368
624,986
184,470
Steam colliers.........
512,090
167,839
439,993
48.496
Coal ba rg es............
60,145
1,495
59,239
10,459
Inc. from invest’s.
519,014
519,014
486,290
486,290
Total RR. C o.. $30,527,403 $13,173,363
$28,953,577 $12,652,249
Deducting $9,581,731 for rentals and
,222,863 for interest,
the result shows a loss on the railroad of $2,631,231.
The Coal & Iron Company reported receipts of $15,846,411,
expenses of $16,993,465, and consequently a loss of $1,147,053.
There was paid out for interest $984,683, making the loss of
the Coal & Iron Company $2,131,737 64.
The operations of the railroad company, exclusive of the
Central Railroad of New Jersey and of the Coal & Iron Com
pany, showed net earnings of $8,482,156. The fixed charges
were $9,843,802, causing a deficit of $1,361,145,
The decrease in net earnings was mainly due to the decrease
in the price of coal, as the company received only $ 1*537 at
the mines, against $1*652 in 1885.
Including receivers’ certificates, the floating debt of the rail
road company November 30, 1886, was $9,560,176; current
liabilities, $16,741,482; making a total of $26,301,658. The
Coal _ & Iron Company’s floating debt at that date was
11,855,362; current liabilities, $1,622,253; total, $3,477,615,
making the floating debt and current liabilities of the con
solidated companies $29,779,273, which includes overdue in
terest. The total floating debt and liabilities for both companies for 1885, including receivers’ certificates, was $25,070,177, being an increase in current liabilities of $5,954,804, and
a deerease in the floating debt of $1,245,708, or an increase in
the debt for the year ending November 30, 1886, of $4,709,096.
as o1*1*8 floating debt the amount secured by collateral is
$8,348,254. The certificates, promissory notes and other obli
gations of the receivers amount to $3,867,284.
In alluding to the separation of the Jersey Central from the
Reading the report says:
Notwithstanding the severance of the two systems, all
railroad traffic continues to be exchanged between them
bnder provisional arrangements, which have been made betbe two comPa,1ies for the handling thereof, and it is
bot doubted that these two systems of railroads will continue
to conduct their business in a manner that shall be harmoand to the mutual benefit of both companies.”
The creditors and stockholders are advised to accept the
Plan of reorganization proposed by the trustees. In conclu-
1885-86,
1.215,244
Passenger m ileage... 27,011,591 27,181,709 24,118,903 25,223,115
Rate per pass.p. mile. 2-90 cts.
2*82 cts.
2*93 cts.
2*91 cts.
Freight(tous) m oved. 2,627,959
2,376,534
2,417,975
2,933,352
Fr’ght(tons) mileage 171,975,117 211,040,876 276,994,830 375,552,184
R atep. ton p. m ile ... 1*052 cts*
0-788 cts.
0 601 cts.
0-495 cts.
Earnings—
$
$
$
$
Passenger...................
730,886
691,876
624,797
646,345
Freight........................
1,810,733
1,854,114
1,649,843
1,852,586
Mail, express, &e___
61,999
68,784
60,874
69,286
T o t a l..................... 2,603,618
Operating expenses—
Maint, o f wav, &o___
284,929
Maint, of oars............
83,781
Motive pow er............
425,524
Trans, e x p en ses.......
506,984
Taxes .........................
69,781
M iscellaneous............
343,760
2,614,774
2,335,514
2,568,217
416,484
111,532
520,290
522,098
84,476
*432,961
374,415
l l i ,4 2 8
557,851
617,527
78,687
137,759
495,494
152,081
631,339
687,250
80,048
148,308
Tot t l . . . . '..............
Net earuings..............
2,057,841
526,933
1,880,667
454,847
2,195,210
373,007
1,714,759
888,859
‘ Includes overcharges, $205,061.
INCOME ACCOUNT.
Receipts—
Net earnings..............
Rentals and interest.
Total incom e.......
Disbursements—
Buff. Pitts. & W. R R .
Interest en b on d s...
Other interest, & e ...
D ividen ds............ .
1882-83.
$
888,859
99,510
1883-84.
$
526,933
42,300
1834-85.
$
454,047
57,924
1885-86.
$
373,007
55,853
988,369
569,233
512,771
428,860
1,275,935
130,751
t l, 413,500
342,783
11,410,380
206,234
*104,271
1,131,745
396,000
Tot. dishursem’nts. 1,632.016
Balance...................... def.643,647
1,406,686
1,756,233
1,616,014
d f.837,453 df. 1,243,512 d f.l, 187,754
*Nefc earnings Oct. 21 to Dec. 31 ,1 8 3 2 . included in report for 1880-81.
i Includes full interest—paid and unpaid.
GENERAL INVESTMENT NEWS.
B altim ore & Ohio.— A Baltimore press dispatch on Wednes
day said : “ It is understood that the Baltimore & Ohio is about
to issue a two-million-dollar contract loan. The bonds are a
direct obligation of the company, secured by mortgage on
rolliDg stock built and being built. They will bear 4 ^ per
cent interest, payable semi-annually, and are payable— $ 200,000 each year— in ten years. A syndicate of New York and
Baltimore bankers has already taken $1,800,000 of the bonds,
and the balance will probably be arranged for within the next
day or two.”
THE CHRONICLE
90
B u rlington Cedar Rapids & N orthern.— Following is a
statement of the gross and net earnings of this road as specially
obtained by the C h r o n i c l e :
,------ November— —> ,— Jan. 1 to Nov. 30.— .
1886.
1885.
1886.
• 1885.
$313,006 $2,626,530 $2,826,605
• ro w earnings................. $290,670
Operating e x p e n s e s ...... 192,669
223,144
1,922,306
1,970,980
Net earnings...............
$98,301
$83,862
$704,224
$655,625
(V ol. XUV.
though expended in betterments. Most of the income booda
(of 1876) were exchanged for 5 per cent mortgages, and onlv
$772,000 of them are now outstanding. Some time ago it WZ
proposed to liquidate the scrip by giving the holders 5 per cent
mortgage bonds at 60 per cent of the face of the scrip. This
proposition was refused and the present suit was begun. j U(jge
Wallace, about a year ago, directed the Master to ascertain the
net earnings for each six months since the execution of the
income mortgage in 1876, and also the surplus that has ac
crued after deducting interest on bonds prior in lien to the
income mortgage ; and as a general result ol the accounting
he has found that such surplus net earnings aggregated about
$3,500,000 to the date of the last annual report.
The scrip now outstanding is about $2,500,000. The claim
of the Mercantile Trust Company to participate in the surplus
earnings on account of $720,000 in scrip ana $1,290,000 of in
come mortgage coupons from which 5 per cent consolidated
bonds had been received in exchange, was disallowed by the
Master on the ground that the liability of the railroad com
pany rested on the 5 per cents only. The scrip and coupon
claim had been extinguished by the exchange.
The Master’s report will shortly be filed and argued in the
U . S. Circuit Court in about a month thereafter. The expec
tation is that the report will be accepted and the decision
thereon by the Circuit Court taken on appeal to the U. S.
Supreme Court, where it will be likely to remain several years
before it is again heard from.
Chicago B u rlin gton & Quincy.— The Boston Advertiser
says : “ It is reported that the Chicago Burlington & Quincy
Railroad has eold $11,000,000 4 per cent bonds at 9 5 ^ , the
purchasers being a syndicate heáded by Lee, Higginson & Co.
and Kidder, Peabody & Co. The transaction is noteworthy,
because it is the probable beginning of the Burlington’s plan
of creating a uniform consolidated bond, which will enable
investors to avoid the confusion of different series.”
C incinnati H am ilton & D ayton.— The stockholders met in
Cincinnati pursuant to a call from the directors asking them
to meet for the purpose of authorizing the increase of its cap
ital stock in the sum of $500,000, divided into 5,000 shares of
$100 each, the proceeds arising from the sale thereof to be
applied to increasing the machinery and rolling stock and
building new and repairing old depots and other fixtures of
the company. Also to vote upon the proposition to issue a
mortgage upon all the property of the company of every kind
for the sum of $ 2,000, 000, payable fifty years after date, bear
ing interest at the rate of not exceeding 4J^ per cent per
annum , payable semi-annually.
Both propositions of the
Newport News & M ississippi T a lle y Company.— The gross
directory prevailed, only two hundred shares being voted and net earnings of this system for November and for eleven
against them. But, owing to a claim on the part of a few months were as follows :
stockholders that they did not receive notice of this meeting,
,— Or088 Earnings.—v -— Net Earnings___»
November—
1886.
188*.
another meeting has been called for Feb. 8, when the previous
1886.
1885.
Chesapeake
&
Ohio___
$358,551 $284,6°0
$98,208
$7»,507
vote will probably be confirmed.
Eliz. Lex. & Big Sandy.
89,858
68,294
28,114
31,306
Cincinnati Indianapolis St. Louis & Chicago.— Earnings Ches. Ohio & So. West.
178,983
151,546
78,563
53,326
expenses and charges for November, and for five months of the
T otal........................ $627,392 $504,520
$201,885 1161,139
fiscal year, were as follows :
Jan. 1 to ffov. 30—
,------ November.------- «. ,---- July 1 to Nov. 30.-----,
1886.
1885
1886.
1885.
G ross earnings................. $208,429 $194,678 $1,152,018 $1,018,137
Operating e x p e n s e s ....... 131,254
122,290
692,031
606,052
N et earnings............... $77,175
F ixed charges..................... 50,000
$72,388
50,000
$459,987
250,000
$412,085
250,000
Leaving in treasury fo r steel rails, betterments, e tc..............
526,000
Chesapeake & O h io... $3,755,867 $3,047,039
Eliz. Lex. & Big Sandy. 856,683
648,735
Ches. Ohio & So. W est. 1,546,450
3,423,569
T otal.....................$ 6 ,1 5 9 ,0 0 0 $5,119,343
$1,142,723
296.773
580,369
$376,839
248,947
4.6,389
$2,019,865 $1,582,174
N. Y. City & N orthern.— A t the annual meeting of this
railroad company the following directors were elected:
Surplus.......................... $27,175
$22,388
$209,987
$162,085 Robert M. Galloway, Robert C. Livingston, A. M. Billings,
Columbus H ocking T a lle y & Toledo.— The stockholders John M. Randall, George J. Forrest, William S. Hollister,
of this railway company have elected the following directors : Henry K . McHarg, Henry F. Dimmoek, George F. Stone,
Charles Crocker and H. L. Terrell, New York; John Newell John J. McCook, George S. Lespinasse, Joseph S. Stout, John
and D. W . Caldwell, Cleveland; J. O. Mass, Sandusky; W . L. Water bury.
M. Green and John W . Shaw, Columbus. The board organized
New York Lake Erie & W estern—New York Car Trust,
by electing the following officers: John W . Shaw, President;
W . M. Green, Vice-President and General Manager; W . P. — A lease of equipment was made to the New York Lake
Erie & Western Railroad Company in 1882 and certificates
Shaw; Secretary and W . N. Cott, Treasurer.
entitled “ Series F ” were issued and sold. The railroad com
East Tennessee V irgin ia & Georgia— The following is a pany defaulted upon the payment of principal and interest
statement of the gross and net earnings of this road:
due on November 1st, 1884. The company issued a circular
,-----Grogs E arnings. — , ,------- Net Earnings.-------. to all the certificate-holders asking them to enter into a
1886.
1885.
1886
1885.
$298,824
$116,617
$131,328 compromise by which the interest should be reduced from
July...................... .. $331,046
329,249
128,565
364,811
134,098 6 to 5 per cent and the drawings, which, under the original
A ugust...................... .
162,534 contract were to be 10 per cent per annum, should be reduced
379,424
167,207
„
394.380
Septem ber..........
411,380
244.309
456,617
191,708
O ctober...................... ..
212,910
165,956 to 1, 2 and later not less than 5 per cent per annum. A
424,372
400,781
N ovem ber.................
majority of the certificate-holders accepted this compromise,
$785,624 and on behalf of those who accepted, the trustees, under
$869,608
Total 5 m onths.. . $1,971,226 $1,819,658
Indiana B loom ington & W estern — Cincinnati San the car-trust contracts, executed an agreement with the
dusky & Cleveland.— It is announced that the Cin. S. & C. railroad company to effect the purposes of this compromise.
the
Springfield & Columbus, and the Ind. Bloom. & The minority interest brought suit upon their contract through
Western have entered into an agreement for a consolidation the trustees, as they had never accepted any compromise, and
into one general system, with the name of Columbus San were not bound by any action taken by the majority. The
dusky Indianapolis & Western. It will include 548 miles of managers under the association agreement were authorized
road from Peoria to Sandusky, and from Columbus to Peoria. to act for all as far as the general business of the association
Lake Erie & W estern.— The Stockholder sa y s: “ Under the was concerned. But the Court decided that neither the
reorganization plan, $4,214,000 cash was raised by the sale of managers nor the trustees had ever attempted to bind the
new 5 per cent bonds to the First National Bank, Winslow, minority by taking general action, and particularly the
Lanier & Co. and to Vermilye & Co.; the preferred stocks agreement between the railroad company and the trustees
yielded $3,010,000 cash and the common stock $1,082,000— in only claimed to bind those who had accepted the compromise.
Judge Van Brunt decides that the compromise agreement is
all $3,256,000 in cash.
“ This aggregate has been or is to be disposed of as follow s: not binding upon the non-assenting shareholders, but they
have a right to claim all that the original lease to the railway
T o pay off old bonds and interest........................... '._____ ____ $5,200,000
T o be paid to income bondholders...............................................
340,0^0 company gave them. This decision is comprehensive, and if
T o pay o ff all car trusts..................................................................
450,< >oo sustained on appeal will apparently settle the status of the
T o pay o ff receivers’ debts and other olaims........ ...................
740,000 car-trust certificates.
T o build and equip extension from Bloomington to P eoria...
800,000
New York Stock Exchange.— The governors of the Stock
Exchange have admitted the following securities to the list:
J ames R iver V alley R ailroad.—A n additional $228,000
first mortgage sinking fund 6 per cent gold bonds, making
the total amount now listed $963,000.
St. P aul & Northern P acific R ailw ay .—Registered
bond certificates as issued in exchange for the general mort
gage 6 per cent forty-year gold coupon bonds.
C i n c i n n a t i W a s h i n g t o n & B a l t i m o r e R a i l r o a d .— An
additional 1,000 shares of preferred and 750 shares of common
,-----—.N ovember.--------,
,— Jan. 1 to Nov. 30.------ . stock, making the total amounts now listed $ 12, 993,200 of
1886.
1885.
1886.
1885.
preferred and $5,886,100 of common stock.
Gross earnings.........$199,961
$159,171
$1,757,246
$1,541,635
Milwaukee Lake Shore & W estern R ailw ay .—An ad
Operating expenses 119,359
317,646
1,175,417
1,216,841
ditional $169,000 of first mortgage Michigan Division 6 per
N et earnings
$80,601
$41,525
$581,829
$324,794 cent bonds, making the total amount now listed
Northern P acific R ailroad.— A n additional $ 1,000,000
M issouri Kansas & Texas.— The Special Master, Samuel
A . Blatchford, has made his report to the U. S. Circuit Court first mortgage and land grant 6 per cent bonds, making the
in the suit of Barry vs. Missouri Kansas & Texas Company. total amount now listed $52,509,000. —
F ort W orth & Denver City R ailw ay .— A n additional
This was a suit to compel payment in cash for scrip given for
interest on income mortgage bonds— the plaintiff claiming $320,000 first mortgage 6 per cent bonds, making the total
that the same should be paid because it had been earned, amount now listed $3,920,000.
“ The property is thus left clear, in good shape, without float
ing debt or car trusts and with cash in its treasury. Its fixed
charges are only $215,000 annually, or $10,000 of 5 per cent
bonds per mile. A s the new preferred stock, when issued
soon, comes next to these bonds as a lien on the property, it is
expected to be a dividend-payer from the start.”
Lou isville New Albany & Chicago.— The earnings and
expenses for November and from Jan. 1 to Nov. 30 were as
below :
J anuary 15, 1867. J
TH E CHR0N1CLK.
91
4Chicago R ock I sland & Pacific R a ilw a y .—A n addi th0 only definite fact transpired was that the directors of
tional $2,000,000 first mortgage extension and collateral 5 per
cent bonds, making the total amount of issue now listed
$6,660,000.
Chesapeake & Ohio R a il w a y .— Extended 4s of 1986,
coupon and registered, which are the assents of series B 6s, to
an extension of the maturity of the bond from 1908 to 1986,
and to a reduction of the annual interest to 4 per cent, which
assent is stamped upon such bonds as have been presented.
The assents up to Jan. 12 amounted to $2,698,900 out of an
issue of $15,000,000.
D enver & Rio Grande W estern R a il w a y .— Capital
stock, 75,000 shares of the par value of $100 per share,
amounting to $7,500,000.
T ennessee Coal , I ron & R ailroad Company .— A n ad
ditional 70,000 shares of the capital stock issued for the acqui
sition of and consolidation with other properties, making the
total amount now listed $10,000,000.
Oregon Im provem ent Company.— The earnings, expenses
and charges for the year ended November 30 were as below
given:
n
.
1885-6.
Gross earnmars..............................$2,934,818
Operating expenses................... 2,208,815
1884-5.
$2,881,957
2,270,041
Increase.
$52 861
D e e .6 1,2 ¿6
Net earnings................. ...........$726,003
Fixed charges................................. 350,000
$611,916
$114,037
Surplus........................ .....................
376.003
Oregon Railway & Navigation Co.— The Oregon Legisla
ture meets next week, and tue legislation desired to complete
the lease of the Oregon Railway & Navigation Company will
be sought for as it is found necessary to a valid agreement.
The Short Line, or Union Pacific through the Short Line,
will lease it alone if the Northern Pacific declines to join.
’
—Following is a statement of the earnings of this company
as specially obtained by the Chronicle :
------- November.------,
„
|
1886.
Gross e a r n in g s ................... $519,919
Operating expen ses........... 287,067
1885.
,-----July 1 to Nov. 30.-----,
1886.
1885.
$629.672
286,902
$2.611,187 $2,722.778
1,328,236 1.281,530
Net earn in g s................ $232,852 $342,770
$1,282,351 $1*44^248
Philadelphia & Reading.— The result of the joint opera
tions of the Philadelphia & Reading Railroad and Coal & Iron
Company in the month of November, the last month of the
fiscal year (including Central New Jersey Railroad leased),
was an increase of $616,785 in gross earnings and an increase
of $430.995 in net, compared with November, 1885. In the
year 1885-86 there was an increase of $1,729,849 in gross
earnings and a decrease of $509,040 in net, compared with
the same period in 1884-85.
.------ Gross Receipts.-— —,
_
1885-6.
1884-5.
Dec. 1 to M ay 31.$19,947,372 $13,988,319
June
3,748,389
3,814,203
July . . . . . .
4,058,416
4,005,882
August___
4,309,689
4,358,638
September
4,578,428
4,554,599
O ctober. . .
4,746,699
4,715,936
November.
4 ,8 -8 ,9 8 4
4,272,199
Total year.......... $46,373,811
$44,643,962
,-------Net Receipts.-------,
1885-6.
1884-5.
$4,272,184 $4,568,614
816,364
833,865
1,015,422
1,123,747
1,067.021
1,4 1 6,40 1
1,186,148
1,225,653
1,275,302
1 ,3 5 4 ,1 6 1
2,487,416
2,056,421
$12,119,857 $12,628,896
—The decisioa of the masters in regard to the status of
heading general mortgage bonds is important. The points
covered are as follows : First— The general mortgage 7s in the
contemplation of the law were issued in 1876, and are entitled
to the lien and security of mortgage the same as the general
mortgage 6s. Second— The general mortgage scrip has never
been ex inguished and is entitled to security of coupons held
under the funding agreement of June, 1877.
Third— The
general mortgage is a lien upon all property acquired since its
aate in 1874 for use upon the main line and leased lines
described in the general mortgage. Also upon all branches
unci extensions of the same, including the Tabor Branch.
Fourth— The general mortgage is not a lien upon leased lines
acquired since July, 1874, of which the chief roads are the
Hound Brook and North Pennsylvania,
Pittsburg & Lake E r ie .— A t Pittsburg, January 10, the
annual meeting of this railway company was held and the old
Wncers and directors were re-elected, the only change being
Hamilton M cK. Twombly, who succeeded J. H , Devereux,
deceased. The officers are: President, John N ew ell; directors,
Cornelius Yanderhilt, W illiam K . Vanderbilt, Hamilton M cK.
iwombly, David Hostetter, James I. Bennett, M. W . Watson,
James H. Bailey, Robert Dupuy, A . E. W . Painter, James M.
ocnoonmaker, Henry Hice, D. Leet Wilson. The President’s
ep°rt showed gross earnings for 1886 of $1,376,861, the expei ses $695,204 and the net earnings $375,655. A fter paying
inp-T C®on~0n the stock and b °n(is and scrip dividends amount®.7o opf'39 ‘ ’320, there is a net surplus from the year’s business of
I Erip d i Tbe VandeI hilt stockholders in the Pittsburg & Lake
v a lisu 1 * ^ CornPany, it is said, are preparing to test the
tW V i7
the trU8t deed in the courts. The Vanderbilts claim
In r n l!16 trU8t 18 void’ and that the deed is but a voluntary
thpm7 emPowering the trustees to vote the stock, but giving
of
Power8< A s the Vanderbilts own the majority
J
1
HUUJ OiaiLU
LIKJ .right to use it as they see fit. A t
tho
8t.o ckt,hey
cl»*“ 1 the
the
fifth tru8tee wa8 not elected. It is stated by
ft i rbllt rePrespntatives that they do not intend in any
if t L
tke P°bcy or executive force of the road, even
tne trust deed is broken.
w av
betweentht
^ r.est1P o in t T erm in al.— As to the negotiations
I
een the Terminal managers and the East Tennessee people,
the Terminal Company, at a meeting on Thursday appointed a
committee authorized to conduct the negotiations with the
East Tennessee Company. The committee consists of George
t
,T- M - Logan, James B. Pace, Emanuel Lehman and
J. A . Rutherford.
— Dow Jones & Co. on Friday say : “ The East Tennessee
have made their final offer to the Richmond Terminal for the
sale of the control o f the preferred stock. The Terminal Com
pany made a counter proposition this morning, but it was
declined. The Terminal people are again in session this m orn
ing to decide whether or not to accept the offer. The monev
needed to buy the E. T. and to pay off all R. T .’s present float
ing debt is $9,000,000. A syndicate has already been formed
to furnish R. T. with this amount. R. T. will issue a bond to
secure the syndicate.”
1 B o m e W a te r to w n & Ogdensburg.— The gross and net earn
ings in November, and for two months from October 1. in 1885
and 1886, were as follows:
.--------- November.---------, — Oct. 1 to Nov. 30.— \
„
.
1986.
1885.
1886.
1885.
Gross earnings................$250,552 $167,460
$550,418
$349,704.
Operating e x p e n s e s ___ 129,689
93,678
269,424
190,707
Net ea rn in g s............ $120,862
$73,782
$280,993
$158,9 97
St. Louis A rkansas & Texas.— That portion
__ ____ of the
UiXO St.
Louis Arkansas & Texas Railroad between Texarkana, A rk '
and Gatesville, Texas, a distance of 305 miles, was changed
this week from narrow to standard gauge. The entire length
of the road from Cairo to Gatesville, 750 miles, is now standard
gauge.
St. Louis Y a n d alia & T erre H au te.— The annual report
for the year ending Oct. 31,1886, shows gross earnings, $1 478 330; expenses, $1,011,144; net earnings, $467,185.
’
*
Sutro T u n n el.— A meeting of the stockholders of the Sutro
Tunnel was held at No. 52 Exchange Place on W ednesday
for the purpose of securing delay in the foreclosure proceed
ings begun by H ugh McCalmont, o f McCalmont Brothers o f
London. The suit is now pending, and the final hearing will
be held in the United States Circuit Court in Nevada in March.
Theodore Sutro presented for the signatures of stockholders a
petition to the court reciting that the McCalmonts, as holders
of the mortgage, had acquired complete control of the com
pany through the ownership of a bare majority o f the stock,
and that by the proposed foreclosure the rights o f the minori
ty stockholders would be extinguished. The petition asks
that the final hearing be postponed to enable the minority
stockholders to protect their rights, and that the signers be
allowed to defend the suit by separate counsel. A resolution
approving the proposed plan was adopted unanimously and a
committee in behalf of the minority stockholders was ap
pointed. A m ong the statements read at the meeting was
one that in the first six months of last year the company
had earned $20,000 a month, and that since November 1 the
earnings had been at the rate of $40,000 a month.
Toledo & Ohio C en tral.— Following is a statement o f the
gross and net earnings of this road as specially obtained by
the Chronicle.
j
— November.---- ,
„
.
1886.
1885.
Gross e a rn in g s......................... $84,671
$41,711
Operating expen ses................ 56,159
40,273
Net earnings.....................
$28,512
Jan. 1 to Nov. 30.
1886.
$744,927
522,096
$1,433
$222,831
Troy & B oston.— From the returns to the N. Y . State Com
missioners, the following statement is made for the vear
ended Sept. 30 :
J
Tear—
Gross earnings........................................................
Operating expen ses................................. .............
............ .
Net earnin gs..
Other incom e.
$475 200
246 059
$229,141
1,841
OQI)
Total incom e..................... : ......................
$22 194
D eficiency fo r y ea r............................................................................
Total deficiency Sept. 3 0 ....................................................... $1.349,657
W orcester & Nashua.— In their annual report to the stock
holders, the directors gave the following statement o f the
road’s condition on Jan. 1, 1887 :
On hand, including rent due Jan. 1 ,1 8 8 7 ($125,000) from the
$190 73 1
Boston & Maine railroad..............................................................
Prem ium from sale o f 4 per cent bonds to take plaee’ o f bonds
*
maturing May 1 ,1 8 8 7 (bonds sold )............................................
1 9 ,2 5 0
$2 09,9 81
LIABILITIES.
U npaid interest w arran ts....................
Interest on bonds Jan. 1 ...........
Interest on n otes..................
Sundries, estim ated.................
Notes p a y a b le............................ .............
Dividends payable Jan. 1 0 .1 8 8 7 ...........
an nnrt
-----------
Leaving balance on hand o f .........................................................
138,654
$71 32 6
After having issued $275,000 bonds to take the place o f same
amount of 5 per cent bonds due May 1, 1887, at 4 per cent the
charges hereafter (until 1893) will be $262,504, including 6 per
cent dividends. This leaves a deficiency of $12,504 under the
rental, but this will be provided for from balance o f cash on
hand until bonds falling due in 1893, 1894 and 1895 are re
funded.
THE CHRONICLE.
92
3 P ie
C o m
m
e r c i a l
COMMERCIAL
'J a i m e s .
EPITOME.
F r i d a y N i g h t , Jan..14,1887.
[V ol. 2 LTV.
C O T T O N .
F riday , P. M., Jan. 14,1887,
The Movement of the Crop , as indicated by our telegrams
from the South to-night, is given below. For the week ending
this evening (Jan. 14), the total receipts have reached 142,915
bales, against 159,044 bales last week 236,618 bales the previous
week and 283,045 bales three weeks since ; making the total
receipts since the 1st of September, 1886,4,057,757 bales,against
3,868,132 bales for the same period of 1885-86, shoeing an in
crease since September 1, 1886, of 189,625 bales.
The weather has been severely cold in all parts of the
country for most of the week, but has moderated materially
at the close. The snow in the streets of cities has been an
obstacle to active business. The strike of the coal handlers
Mon.
Tues.
Wed. Thurs. Fri.
Sal.
Receipts at—
continues, and a scarcity of coal begins to be felt seriously in
Toted.
many quarters, causing in some instances the closing of Galveston......... 1,824 1,831 2,078 2,900 2,556 2,295 *3,494
....
....
....
....
...
manufacturing establishments. The boycott of alongshoreIndianoia, &c.
....
...
men against the Old Dominion line of steamships is causing New O rleans... 8.139 22,164 13,935 3,896 7,718 10,295 66,147
324
1,434 2,449
509 1,430
616
6,762
some trouble to the agents of foreign steamships ; and alto M obile...............
....
....
.... .....
943
918
gether the lot of the employer is becoming a hard one. Still, Florida.............. ••••••
2,082
2,737
2,407
2,589
2,085
1,881
Savannah..........
13,781
general trade is good, and the prospects for the coming season
....
....
....
....
Brunsw’k,
&c.
413
413
are regarded with satisfaction, arising from confidence in the
616 2,094 1,281 1,274
659
557
6,431
stability of values ; but speculation at the moment turns C harleston.......
.
.
.
.
.
.
.
.
....
.
.
.
.
.
.
.
.
.
.
404
Pt
Royal,
&c.
404
largely upon the varying phases of European politics.
356
247
483 . 634
579
258
2,557
The speculation in W d for future delivery was at declining W ilm ington. . . .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.........
65
Moreh’d
C.&c.
64
prices to the close of Wednesday's business, owing to depress
803 1,661 1,284 1,002
468 1,572
6,790
ing Western influences, but there was a partial recovery yes Norfolk..............
423
644
218
188
1,534
158
West
Point,&o
3,165
terday and a stionger market to-day. Lard on the spot was
572
896
269 3,054 1,944 1,172
7,907
more freely offered, and at the lower prices there was a good New Y ork.........
976
1,274
,
765
1,433
1,064
B
oston...............
889
6,401
business done, including large lines of refined for the Conti
....
....
....
....
....
6,448
nent and tor South America. To-day the market was fairly B altim ore.........
6,418
62
29
Philadelp’
a,
&c.
813
84
66
108
active and firmer, but closed quiet at 6 ’50c. for prime City,
1,162
6 *7 2^ @ 6 75c. for prime Western, 7c. for refined to the Con
Totals this week 18,081 33,684 23,186 17,149 18,704 32,111 142,915
tinent and 7’25c. for refined to South America.
DAILY CLOSING PRICES OP LARD FUTURES.
Saturd’y,
Jan. delivery .. 6 ‘74
February “ .. 6*70
March
“ .. tt’86
April
M ay
June
“
. . t 'Ù 3
“
“
.. 7*01
.. 7 "08
Mond'y.
6 68
6-73
6-30
«•87
6*94
7'00
l'uesd’y.
6-63
6-67
6*73
6-80
b'o6
6*94
1Vedns’y. Thursd’y. Friday.
6-70
6-6 L
6-73
6-67
6-73
6-75
6-73
6*79
6-81
6*80
6-85
6-88
6*93
6*87
6-9.5
700
7-02
Pork has been lower, but latterly advanced, with a good
demand, closing at $12 50@$12 75 for new mess, $10 75@$11
for extra prime and $14 75 @ $ 15 50 for clear. Cutmeats have
ruled decidedly higher, with the advance more readily paid at
thé close ; pickled bellies 6% @ G % c., hams 9 j^ @ 9 ^ c . and
shoulders 5}^@5J^c.; smoked hams l 0^ @ 10% c. and shoulders
6*>/@6%o.
Beef is dull at $7 50@$8 for extra mess and
$8 o 0@ $9 for packet per bbl. and $15^$17 for India mess per
tierce; beef hams are $19 50@ $20 per bbl.
Tallow sells
readily at 4 ^ @ 4 7-16e. Stearine is firm at 7)4@7%c. and
oleomargarine is quoted at 6j ) 6V£c. Butter is in moderate
demand at 20@32c. for creamery. Cheese is firmer at 11% @
18 ^ c. for State factory full cream and 6J ^ @ ll% c . for skims.
The slaughter of swine at the W est has latterly shown some
increase over last year. The following is a comparative sum
mary of aggregate exports from November 1 to January 8 :
188t-7.
Pork..........................lbs. 9,552,8*00
Raoftn, &o....... ............1 06.4 04,4 54
Lard................................. 86,375,592
1885-6.
9,688,200
105,521,798
59,332,068
Deo.
135.400
la c .
882, e5G
Luo. 27,043,524
For comparison, we give the following table showing the week’
total receipts, the total since Sept. 1,1886, and the stock to-night
and the same items for the corresponding periods of last year
1886-87.
Receipts to
Jan. 14.
This Since Sep.
Week. 1,1386.
1885-86.
Stock.
1
This Since Stp.
Week. 1 ,1 8 8 5 .
G a lv e s to n ... 13,184 611,873 10,753 565,108
Ind’nola,&o
781
New Orleans. 66,147 1,259,570 44,959 1,246,409
Mobile...........
6,762 172,287 11,371 180,782
19,112
F lorid a.........
1,383
38,234
948
8,762 614,050
Savannah. .. 13,781 630,140
Br’sw ’k, &o
23,807
12,850
413
397
Charleston ..
6,481 337,000
4,135 388,943
14,105
9,237
Pt.Royal,&o
404
217
79,632
Wilmington .
1,252
2,587 119,831
M’head C.,&c
3,450
4,526
65
50
Norfolk.........
6,790 419,509
8,757 389,129
W.Point, &c.
3,165 244,895
5,768 198,692
New Y o r k ...
56,766
38,254
7,907
2,178
Boston .........
47,444
6,401
5,125
53,149
B altim ore. . .
6,448
26,894
2,615
28.208
Pliiladel’a.&c
1,162
21,074
761
19,843
1887.
1886.
110,879
85,714
403,292
37,921
95,099
396,284
61,539
2
91,395
32,739
240
9,574
85,189
218
11,146
39,524
11,718
223,273
10,000
15,444
15,353
49,867
12,198
253,274
6,310
31,959
21,461
.
......
Total............ 142.915 4,057,757 108,488 3.868,132 1,010,061 1,106,586
'In order that comparison may be made with other years, we
The speculation in Rio coffee has been active, but the course
o f prices fitful and uncertain. A n upward tendency was give below the totals at leading ports for six seasons.
checked by an increase in the visible supply, and to-day there Receipts at—
1883.
1887.
1885.
1884.
1882.
1886.
was çome decline, closing with sellers at 13*25c. for the active
5,442
13,434
12,110
13,923
10,753
9,851
months, but January held at 13'40c. and February at 13'35c. Galvest’ n.&c.
53,292
21,307
37,792
66,147
44,959
56,666
Coffee ou the spot was active early in the week for all New Orleans.
5,511
growths, but the mild grades relapsed into dulness. To-day M obile...........
7,862
6,762
11,371
5,609
8,939
15,973
fair cargoes Rio were %c. lower at 15)^c. The demand for Savannah . . .
8,762
12,474
12,612
13,781
13,687
raw sugars has fallen off, the scarcity of coal having caused Charl’st’n, &c
9,678
4,352
6,221
6,885
9,408
10,908
the curtailment of refining operations, and, by the same token, Wilm’gt’n, &o
4,904
2,622
1,302
1,977
3,835
2,268
thpre is a stronger market for refined sugars, but quotations Norfolk.........
12,488
13,594
13,102
6,790
8,757
12,747
are unsettled. Molasses nominal at 2 0 ^ c . for 50-degrees test. W. Point, &o.
6,083
3,165
4,871
2,427
3,786
5,768
Teas in very good demand.
18,604
All others . . .
25,131
23,279
12,464
15,931
15,785
Kentucky tobacco bas been quiet. The sales thus far this
99,990
mqnth are only 400 hhd?., of which 275 for export at un Tot. this w ’k. 142,915 103,488 130,951 110,467 150,390
changed prices. Seed leaf is moving briskly, and the sales Since Sept. 1. 4057.757 3868,132 3956,461 3757,674 4012,231 3600,400
for the week are 2,070 cases, as follows : 100 cases 1881 crop,
Galveston includes Indian oia; Charleston includes Port Royal, &c..
Pennsylvania seed leaf, 12@ 14c.; 300 cases 1882-83 crops, Wilmington includes Moreli’d City, &c.; W est Point includes City PointAC,
Pennsylvania seed leaf, l l @ 1 2 ^ c .; 150 cases 1885 crop, Penn
The exports for the week ending this evening reach a total
sylvania seed leaf, 9@15e. ; 100 cases 1885 crop, Pennsylvania
of 165,805 bales, of which 85,812 were to Great Britain, 37,150
Havana seed, private terms ; 200 cases 1885 crop, New England
to France and 42,843 to the rest of the Continent. Below are
Havana seed, 18@35c.; 100 cases 1885 crop. New England seed
the exports for the week and since September 1, 1886.
leaf, private terms ; 120 cases 1884 crop, New York State
Havana seed, 9J^@llJ^c.; 500 cases 1885 crop, Little Dutch,
from Sept. 1.1886, to Jan. 14,1887.
WeeK Ending Jan. 14.
8(ffi93^c., and 500cases 1885 crop Ohio, private terms; also, 350
Exports
bales Havana, 60c.@$1 05,
Conti
Great
Conti Total Great
from—
Total.
The supply of spirits turpentine was temporarily cut off by
Brit’n. France nent. Week. Britain. France nent.
the strikes and the price advanced to 40c,, but the close is dull Galveston...... 6,789
1,120 7,909 207,556 24,690 51,899 384,113
at 39)£c. Rosins are steady a t $ l @ $ l
for common to good New Orleans.. 30,104 29,026 15,351 74,481 369,428 248,446 186,159 804,003
17,141
strained. The speculation in crude petroleum certificates was
2,227
2,227
17,141
dull, and to-day theie was a sharp decline to b8% c. under the Florida...........
366,500
favorable reports from the wells, but values recovered, and Savannah....... 13,310 4,471 6,921 24,702 206,714 15,046 144,740
11,550 12,780 81,501 86,194 105,9d4 223,639
the close was at 70% @ 70% c. The speculation in metals has Charleston .... 1,230
6,418 93,898
7,981
81,170 6,310
been fitful. The iron markets were depressed by the prospect Wilmington... 6,101 1,860
1,937 210,772
5,239
1,037 7,176 214,885
ive passage of the Inter-State Commerce bill, but were to-day
8,406 60,667
50,111 2,150
firmer. Block tin was very active and buoyant yesterday, West Point,&c
417,353
4,534 15,041 263.823 29,522 124,008
bujt was quieter to-day, with sales at 22*60c on the spot and New York...... 9,614 1,793
1,195 71,588
70,393
5,689
5,689
78,347
22*.65c. for February. Ingot copper is more firmly held at Baltimore...... 4,876
880 5,756 62,335 3,030 18,982 29,683
11 ‘65c. for Lake.
1,774
550 1,183 23,909
Philadelp’a, Ac
6S3
Ocean freights have been rather dull, and rates close unset
2,659,788
Total............ 85,812 37,150 42,843 165,805 1,648,018 365,388 655,452
tled. The business to-day included grain to Liverpool at 4 ^ d .
2,286.704
790,103
949
276
Total 1885-80 51,744 18,114 58.297 98.155 1,247,385
and to H ull 5 ^ d ., with crude petroleum to Cette about 3s,
THE CHRONICLE
J a n u a r y 15, 18b7,]
93
la addition to above exports, our telegrams to-night also give
as 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. 14, at —
Great
Other ! Coast
B ritain. France. Foreign wise.
Total.
Leaving
Stock.
27,501
None.
3,0 0
2,100
3,033
None.
250
None.
20,766
None.
1,600
19,300
15,032
1,489
6,250
1,000
2,533
4,700
300
1,200
10,536
1,800
None.
None.
91,193
13,700
5,800
26,500
40,306
24,285
9,3u0
9,000
97,726
35,892
65,337
21,129
220,084
789,977
Total 1886 ....... 114,846
Total 1 8 8 5 ....... 105,698
28,731
27,168
52,002
37,848
15,500
16,533
211,079
187,547
895.507
758,064
Ns w O rleans.. . .
M o b ile ...............
C harleston.......
Savannah. . . . . .
G a lv e sto n ... . . .
N o rfo lk .......... .
New Y ork..........
Other p o r t s .....
40.390
9,000
1,000
3,900
11,640
20.996
2,800
8,o00
Total 1887.......
317,099
24.221
26,939
68,599
70,573
15,239
213,973
53,334
The speculation in cotton for future delivery at this market
was sluggish the first half of the week under review, and
prices declined. The “ bull ” party seemed to have lost confi
dence in view of the warlike character of the news fro m the
Continent, the comparatively full receipts at the ports and
the relatively large visible supply.
Advices from Liverpool
and Manchester were at times quite encouraging, but their
chief influence was to cause the “ bears ” to operate with cau
tion, limiting the offeiings, under which prices gave way
slowly. The weather at the South till near the close of the
week was so severely wintry as to prove a serious obstacle to
all business; yet the movement of the crop was well main
tained, encouraging the “ bears’' to again assert maximum crop
estimates with apparent confidence.
On Wedn esday, in the
last hour there was a sharp recovery of 5 @ 6 points, the effect
mainly of speculative manipulation, and there was some
further advance on Thursday morning, but it was more than
lost under sales to realize. To-day a decline at Liverpool and
increased interior movement caused some depression. Cotton
on the spot has been quiet. Stocks at this market are smaller
than they usually are at this stage of the season. Quotations
were reduced l-16c. on Monday. To-day the market was
quiet at 9}^o. for middling uplands.
The total sales for forward delivery for the week are 326,100
bales. For immediate delivery the total sales foot up this week
3,417 bales, including 50 for export, 2,626 for consumption,
741 for speculation and — in transit. Of the above, 100 bales
were to arrive. The following are the official quotations for
each day of the past week.
J a n . 8 to
Ja n . 14.
U PLAND S.
S a t.
NEW O RLEAN S.
ill o n T u e s S a t.
O rd in ’y .ftlb « » is 6 %
6%
S tr ic t O ra .. 714
73 ,6
7 3 ,a
G ood O rd .. 8 3ig 8*8
8*8
Str. G ’d O rd 8®8
8»16
8 9,e
L o w M id d ’g 9*18 9
9
S t r .L ’ w M ia S 3g
9 5ie
9 5ie
M id d lin g ... 9 wie
9*9
9*9
Good M id .. 9*316 9 %
Str. G ’d M id 10*18 1 0
10
M id d ’g F a ir 1 *Jt 16 1 0 3 g 1038
F a ir ........... 1 1 *1« 11
11
W e d I 'll. F r i .
615,8 61016
7
73»
73s
77 ,6
83 »
8 b ,6
8 5ie
8 *3, 6 8 %
8%
93,8 93 ,8
9*4
9*2
9*2
9 918
9%
9**16 91*16
10
915 i 6 9*016
103 ie 1 0 316
10*4
I 0 9 i 6 1 O9 ,0
1008
l l 3,« 1 1 3 ,0
11*4
W ed
Th.
F r i.
6 *5,8 615,8 6 *5,6
6%
6%
O rd in y.$Jk> 6 %
7 3 ,6
73s
S tric t O rd .. 73 ,6
73 a
7 3 ,6
738
Good O rd .. 8 *e
s *8
8*8
8 5 ,6
8 5ib
8616
884
Str. G ’d O rd S9 J6 8 9,a 8 916
8 *H
8\
9
L o w M id d ’g 9
9
93 ,6
9 3ie
9 3 ,6
S ir .L ’w M id S6ie
9 6 ,6
9 5 |fl
9*2
9*2
9*2
9*2
M id d lin g ... 9*3
9*2
9**18 9**16 91*16
9 *k
Good M id ..
9 *k
915 ,e 9*°16 9 1 5 ,6
Str. G ’d M id 10
10
10
103,6 1 0 3 ,6 1 03,6
M id d ’g F a ir It 3g 1038 1038 1 09,6 1 0 9 ,6 1 0 » ,6
1 1 3 ,6 11318 1 1 3 16
F a ir ........... 11
11
m
S a t.
S T A IN E D .
Good O rd in a ry ___
.# lb .
Beriet Good O rd in a ry ....... _____
L o w M id d lin g ........
M id d lin g ...........
608
7 6 ,6
8*8
9
TEXAS.
M on Tnes
M o n T u e s S a t.
7
615,6 61 5 ,6
738
739
7 7 ,6
83 s
85 ,6
8 B,e
813,6 8 %
84*
9 3 ,6
9*4
9 8 ,6
9*2
9 *«
9 9 ,6
9%
911,6 9**16
10
91516 91016
IO«,« 1 0 3 ,6
10*4
1 0 5 g 1 0 9 t6 10»16
11*4
1 18,6 1 1 3 16
Th.
W ed
6 9 16
7*4
8*16
8*°16
6 9 16
7*4
8 1 ,6
8 *5,6
Th.
6 0 16
7*4
8 1 ,6
81616
6 9 ,6
7*4
8*16
6 *5 i 6
F r i.
6 9 la
7*4
8 1 ,6
8 16,6
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
glance how the market closed on same days.
SALES OP SPOT AND TRANSIT.
B a t. . Q u ie t...................
M o n . Steady 'S lie dec
l u e s . Steady.................
W e d . Steady.................
Thors Steady....... .
F r i . . Easy................. .
Total. —
— ................
Ex 0 on- Spec- Tran
p ort. sump u l’ t’n sit. Total.
50
....
200
420
C56
360
407
517
50 2,626
560
....
Ì8Ì
....
....
....
741
....
200
980
656
410
643
517
FUTURES.
Sales.
Deliv
eries.
62,800
52,300
40,900
50,700
59,400
60,000
300
300
300
3,417 326,100
eoo
....
....
T ho d a ily d e live rie s given, above are a c tu a lly d elive red th e d ay
p re v io u s to th a t on w h ic h th e y are rep orted .
T he Bales and P rices of F utures are shown by the follow
iog comprehensive table.
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r H > H*H B» MM
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0
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c ¿ O j i ©H©H © o ©6 * © o © ò o © ò M ¿ C Ò
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M A R K E T A N D S A LE S .
SPOT MARKET
CLOSED.
►
coco
0 ȟ!
HH
a®!
F r i.
81516 6 l 5 le 615 ta
73a
73 »
73s
8 5 ,6
6 öie
8 516
8%
8 *k
8%
9 3 ,8
9 316
9 3ie
9*2
9*2
9*2
911,6 9**16 9*116
915,6 9 ‘ 5 ie 9 1 5 ,6
1 0 3 i 6 1 0 3 ,6 1 0 3 ,6
1 0 » i 6 1 O9 10 *Otfie
11816 1 1 316 1 1 3 ,6
M on Tues W ed
►
COCO
«1
©
l¿
CO 00 ^
I8
8; i
*Includes sales in September, 1886, lo r September, 42 ,900; Septem
ber-Ootober, for October. 287,200.; September-November, for N ovem ber,
441,700; September-December, for December, 765,100.
( i f We nave included in tne above table, ana snail continue each
week to g ive, the average price o f futures each day fo r each month. It
will be fou nd under each day follow in g the abbreviation “ A v er.” The
average fo r each m onth fo r the w eek is also given at bottom o f table.
Transferable Orders—Saturday, 9 -50c.; M onday 9 -45o.; Tuesday,
9 ‘45c.; Wednesday, 9 ‘50c.; Thursday, 9 ‘50c.; F riday, 9'45c.
The following exchanges have been made during the w e e k :
•11 pd. to exch. 600 Mar. for Apr.
•30 pd. to exeh. 200 Mar. for June.
•11 pd. to exch. 100 Feb. for Mar.
•12 pd. to exch. 200 Feb. fo r Mar.
•30 pd. to exch. 300 M ay for June.
•08 pd. to exch. 500 June for July.
•38 pd. to exch. 100 Mar. for July.
2 i pd. to exch. 100 Mar. for May.
•56 pd. to exch. 100 Jan. for July.
•50 pd. to exch. 500 Feb. fo r July.
•49 pd, to exch. 2,000 Feb. for J u l y
•10 pd. to exch. 100 A pr. fo r May.
T he V isible Supply of Cotton to-night, as made up by cable
and telegraph, is as follows. The Continental stocks, as well as
those for Great Britain and the afloat, are this week’s returns,
and consequently all the European figures are brought down
to Thursday evening, But to make the totals the complete
94
THE CHRONICLE.
figures for to-night (Jan. 14), we add the item of exports from
the United States, including in it the exports of Friday only.
_
1887.
S took at L iv e r p o o l.........bales. 766,000
Stock at London........................
11,000
1886.
579,000
18,000
1885.
724,000
44,000
1884.
731,OCO
55,000
Total Great Britain s t o c k . 777,000
Stock at H am burg.....................
3,100
Stock at Brem en........................
17,200
Stock at A m sterd am ................
20,000
Btoek at R otterd a m ..................
300
Btook at Antw erp.......................
1,500
Stock at H avre........................... 171,000
Btook at M arseilles................
2,000
Stock at Barcelona....................
53,000
Btook at G enoa......... .............
5,000
Stock at Trieste.......... ...............
10,000
597,000
4,200
33,400
32,000
400
3,700
143,000
4,000
* 42,000
9,000
3,000
768,000
7,000
36.400
54,000
600
1,300
211,000
4,000
38,000
6,000
5.000
786,000
2,600
59,000
48,000
900
3,500
149,000
7,000
44,000
10,000
7,000
Total Continental stooks.........
274,700
363,300
331,000
283,100
T otal European s t o c k s ___1,060,100
871,700 1,131,300 1,117,000
India cotton afloat fo r Europe.
84,000 78,000
47,000 117,000
A m e r'n o o tt’n afloat for Europe
659,000 511,000 643,000 560,000
Ejgypt,Brazil,&o.,afltf or E ’r ’pe
52,000 52,000
63,000
56,000
Stock in United States ports ..1,010,061 1,106,586 945,611 1,159,027
Stook In U. B. Interior to w n s..
344,343 473,995 287,885 328,139
United States exports to -d a y ..
19,790
14,535
23,000
17,000
Total visible s u p p ly ......... 3,229,294 3,107,816 3,140,796 3,354,166
O f the above.the totals o f A m erican and other description s are as follow si
American—
L iverpool s t o o k ..........b a l e sB 578.000
440,000 522,000
499,000
Continental stooks.................. . 186,000
222,000 246,000
243,000
A m erican afloat fo r E u ro p e .... 659,000
511,000 643,000
560,000
United States stook.................. ].1,010,061 1,106,580 945,611 1,159,027
United States Interior sto ck s.... 344,343 473,995 287,885 328,139
United States exports to -d a y ....
19,790
17,000
14,535
23,000
Mail In d ia n , B razil, Ae.—
.2,797,194 2,768,116 2,667,496 2,806,166
Liverpool stook................... J .
188,000
London stook......... .............
„
11,000
Continental s t o o k s ..... ...... .
97,100
84,000
India afloat fo r E u r o p e .........
52,000
E gypt, Brazil, &o., a f l o a t .......
139,000
18,000
52.700
78,000
52,000
202,000
44,000
117,300
47.000
63,000
232,000
55,000
88,000
117,000
56,000
. 432,100 339,700 473,300
548,000
.2,797,194 2,768,116 2,667,496 2,806,166
Total visible s u p p ly ...........3,229,294 3,107,816 3,140,796 3,354.166
P rice Mid, U pl., L iv e r p o o l....
6*4d.
5iied.
5 7ed.
5*&i 6<1.
Price Mid. U p l„ New Y o r k ....
9*so,
961(jo.
ll*i<,o. lOUiec.
h t
The imports into Continental ports this week have been
68,000 bales.
The above figures indicate an increase in the cotton in sight
to-night of 121,478 bales as compared with the same date of
1886, an increase of 88,498 bales as compared with the corres
ponding date of 1885 and a decrease of 124,872 bales as
compared with 1884.
[V O L . X L I V i
Quotations for Middling Cotton at Other Markets.—
In the table below we give the closing quotations of middling
cotton at Southern and other principal cotton markets for each
day of the past week.
Week ending
Jan. 14,
G alveston. . .
New Orleans.
M obile..........
Savannah. . .
Charleston. .
W ilm ington..
N orfolk.........
Boston____ _
B altim ore....
Philadelphia.
Augusta.......
Memphis ...
St. Louis____
Cincinnati...
Louisv ille ....
CLOSING QUOTATIONS FOB MIDDLING COTTON ON—
Batur.
9
9*18
9
9 lie
9*4
9*4
9*4
9i*ie
9%
9%
9
9
9
9*«
9
Tues.
Mon.
9
9 iie
9
91 ie
9*6
9*4
9*4
9H ie
9%
9«8
9
9
9
9*8
9
9
91i 6
9
9*16
9*6
9*4
9*4
9111«
93a
98s
9
9
9
9*s
9
Wednes.
9
9 iie
9
9*18
9*8
9*4
9*4
» U i«
9*%
98g
9
9
9
9*8
9
Thurs.
9
9116
9
9*8
9*4
9*4
9**16
98s
98g
9*18
9
9
9*8
9
F ri.
9
9116
9
9*8
9*8
988
9*4
91*m
9*43938
9i«
9
9
9*8
9
R eceipts from the P lantations.—-The following table
indicates the actual movement each week from the plan
tations.
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.
Week
Ending—
Deo. 10.......
“ 17.......
“ 84.......
M 81.......
Jan. 7......
“ 14.......
Receipts at the Port*. 8t'k at Interior Town». Ree’pts from PlanPnt
1884-85 1885-80 1880-87 1884-8511885-80 1880-87 1884-85 1885-86j1886-87
280,457 218.1341227,886'335,4511434,343 402,085!808.889 299,850 289,139
258,840 238,011 200.059 303,860 481,230 410,053 280,755 284,907 269,527
207,803 240,100 j283,045j363,520 521,310 488,534 207,547 280,246 305,626
154,075 189,852'236,018 849,488 543,557 443,505 140,043 212,090 240,049
133,004 140,829 159,044¡820,785 526,501 423,252 105,201 123.833 138,731
130,051 108,488 142,615'304,3691513,993 889,745 115,025 93,920 109,403
The above statement shows— 1. That the total receipts from
the plantations since September 1, 1886, were 4,399,442 bales;
in 1885-86 were 4,866,275 bales; in 1884-85 were 4:244,105 bales.
2. That, although the receipts at the outports the past week
were 142,915 bales, the actual movement from plantations was
only 109,408 bales, the balance being taken from the stocks at
the interior towns. Last year the receipts from the plantations
for the same week were 95,920 bales and for 1885 they were
115,025 bales.
A mount of Cotton in Sight J an. 14.—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
A t the Interior T owns the movement— that is the receipts substantially the amount of cotton now in sight.
fox the week and since Sept. 1, the shipments for the week, and
the stocks to-night, and the same items for the corresponding
period of 1885-86—is set out in detail in the following statement.
00
05
oo
Vo
oi ;
20,707
18,386
47
382
272
154
1,466
72,696
10,053
9,000
80
267
154
100
457
675,616
12,325
21,406
12,532
10,837
43,068
18,350
557,098
33,603 1,956,765
13,882
254
1,047
45
11,935
42,347
TOWNS.
1
MM
M
o<
M
M i ^ M O io o ^ © t o
00 © X Î H CO CH to MÇ050Ç»<I M © co < 15 M ®
C5b9M*-OQOOJMCO-lM-3 M X C ito 00V l
M - J i^ O I C it if k © © h - it , © © t o © Ä O | u a 5 M
M I ^ © it » O 5 t 0 © W C C X K i.t S - l- l< H li© M ©
Qo
Movement to Jan. 14, 1887.
Receipts .
Shipm’ ti
This
M
h<113
H
COM
M
H
M*35 10 C O M M 05» V « H 10 O t O O C O tO 50M
C D ^ O C M M C H C iC H O if k a s H - r fK jo s c n t O t o
O .M O> COtO|t*OiW *COO l© C> C5tO© Oi50M
1884-85.
1883-34
Total in sight Jan. 1 4 ............ 5,063,184 5,022,367 4,717,153 4,574,648
This
week.
I
j
1
;
1
1885-86.
Tot. receipts from planta’tns 4,399,442 4,366,275 4,244,105 4,069,233
513,742 525,092 358,048 382,415
Net overland to Jan. I ............
Southern oonsumpt’n to Jan. 1 150,000 131,000 115,000 123,000
1
Total, old tow ns.
0)
CO *-*05
K)
o p H <iqc<i co
V V o c o » V f© 'o i
i-ocbco © ex-© co
H O W O O D O SvJ
Augusta, G a ___ _
Columbus, G a ___
Macon, G a ...........
Montgom’ry, Ala.
Selma, a l a _______
Memphis, T en n ..
Nashville, Tenn.
Dallas, T e x a s ....
Palestine, T exas .
Shreveport, L a ..
Vicksburg, Miss.
Columbus, Miss.
Eufaula, A la ____
Griffin, G a . . . . . . .
Atlanta, G a . .....
Rome, G a .......... ..
Charlotte, N. C..
St. Louis, M o ___
Cincinnati, Ohio.
Newberry, 8. 0 . .
Raleigh, N .C .. . .
Petersburg, V a ..
Louisville, K y ..
Little R ock, Ark.
Brenham, T exas .
Houston, T exas.
|U
Oi
'»-*
co
CP
761,635
59,896 12,629,839
Total, new towns 14,757
Total, all_________
M
|0
H
’ch
CO M K3
O C W T D H O ir f k
<10 CP 00 00 U3 <1
1886-87.
Receipts at the ports to Jan. 14 4,057,757 3,868,132 3,956,461 3,757,674
Interior stooks on Jan. 14 in
341,685 498,143 287,644 311,559
exoess o f September 1 ..........
Northern spinners’ takings to
Jan. 1 4 . . . . .............................. 1,033,106 1,089,322
844,261
938,001
It will be seen by the above tbat the increase in am ount in sight
to-night, as oompared with last year, is 40,817 bales, the increase
as oompared with 1884-85 is 346,031 bales and the Increase over
1883-84 is 488,536 bales.
W eather R eports by Telegraph .— There has been a rise
in temperature at the South during the week, with rain in
o 5§
about all sections,— rather heavy in some portions of the Atlan
03
tic and Eastern Gulf States, but light elsewhere. Cotton con
tinues to be marketed quite freely.
M
63
JIM
M 63 M M CO rfi, ; M 60 H 13 O IM
Galveston, Texas.— W e have had rain on two days of the
10 M M ie-63 to 60 5 o V CO M 1 60 M 05 © 00 CO 63
choo © w c o a a o c ji- io o ifi.; - i co ou m ch o
week, the rainfall reaching thirteen hundredths of an inch.
M 0CC5M W r-O O O C H M C H i O O C H M - J - l© ^
Ice formed on two nights in this vicinity. The thermometer
CO
M
m
fed M
^
H 00 •
H
Mm
KJ)
LSmi 1I C
â'w
has ranged from 24 to 68, averaging 47.
CR M C R £ » H H
*
If** O O
W O O p H b O ü lO ) ;
-JCDOWOifcOfcO | § 5
CD
kU «
co
Palestine, Texas.— There has been rain on two days .of the
V
W O O C CB^ÏO
O»O î© ^ ^ © 00© ! * S
o
co CB o« co oo oo ;
if*. Ci 00 © OOr~*£ <1 r— © ÇR J Oi CB 05 O CB kO CD CO
Mît*
week, the rainfall reaching twenty-nine hundredths of an
10
05 M to ** to --l .
CO CBCH © © *0 © 0 i© CR CO « © i^ C i O i© O i© © | M
inch. W e had ice on five nights. Average thermometer 36,
1*
highest 59 and lowest 11.
CO
00^3
M
kOM
Oi
m Sm
New Orleans, Louisiana.— It has rained on three days of
Ci
*r*
S* P*£
kom co oi co co <iTo
0)
>A-<U
0H
-C^fc0b0Q
0C0Q
0
05C0<JbC^CC:OO00
Ä-Sthe week, the rainfall reaching one inch and seventeen hun
M
OCDCDODCBfcOOMO^OoOiÔiiStCœSoS
dredths. The thermometer has averaged 47.
ko CO
H
^4
La4 ft?
Shreveport, Louisiana.— Rainfall for the week, fifty hun
O^JkOCBi^ M WkOOOCB
ko ko CC C i MCB C i co -SR
dredths of an inch.
The thermometer has averaged 38,
CD © p OX
00 <1 Mjs^Oi Qo O M CD Oi
m |
£ £ $ V k ^ © œ M © ^ M © b '© V v 't t w OC»
ranging from 16 to 62.
© I^OOtOMtOvjCRQOi— CRHtOMCDQOlOkOOi
fcCCDr-*CBtOCOlOCB<JlOHMCSCOCO|fk CikO ©
Columbus, M ississippi.— It has rained on two days of the
CR
week, the rainfall reaching seventy-five hundredths of an
§
00 ©
M
H 60 M
OO M M
MM
inch. The thermometer has ranged from 12 to 68, averaging 84,
5Hm V m 05 031î ©
Leland, M ississippi. — Rainfall for the week, fifty-seven
© M 6O©-Orf^ÇO<J© Ç5C5.J05©COiP»C5M IO
»s -i
© <1 ® © M © 60 65 ÛOOO00 ® iq CH M M 5 M
hundredths of an inch. Average thermometer 40, highest 73
tr
and lowest 15.
M
M
© M CO
M kO
CBMM M
© C*COK>;
CO
Greenville, M ississippi. — It has rained on one day of the
£
C O p p *4© ; ^-4CO MCB
©©
•. ©
©V<lWCO*
CO
© WOf QC© 00 • tOQD CB 00 bSMwTk M
week, the rainfall reaching thirty-nine hundredths of an inch.
o o ito o o o ;
co
jÿ
O Q»CDQ '■v!<} • en 1 CDM©Q0è0Q0CD©ÇR^| • C iif^ tO © O iQ l© lO
Picking is about finished and about three-quarters of the crop
has been marketed. The thermometer has ranged from 16
The above totals show that the old interior stocks have to 63.
decreased during the week 27,557 bales and are to-night 129,652
Clarksdale, M ississippi,— The weather has been dry dur
bales less than at the same period last year. The receipts at ing the week, with warm days and cold nights. Some prog
the same towns have been 11,536 bales more than the same ress has been made in picking cotton. The thermometer has
week last year, and since September 1 the receipts at all the averaged 84,1, the highest being 55 and the lowest 12,
towns are 2,492 bales less than for the same time in 1885-86,
M eridian, M ississippi,— The early part of the week we
MS
1
w eek .
93,403 1389,7451
[j
1j
Movement to Jan. 15, 1886.
Receipts.
80
521
39,998 I
2,632,381 1 56,229 1513,993
fH E CHRONICLE.
J a n u a r y 15, 18Ò7.J
had rain, but the latter portion has been clear and pleasant.
Contracts with labor for the coming year are now being made
at about last year’s rates. Large numbers have emigrated
from this section to the Mississippi River bottoms and Arkan
sas. The thermometer has ranged from 32 to 55.
Vicksburg, Misnss>ppi. — Telegram not received.
Qloster, M ississippi.— It has rained on one day of the week,
the rainfall reaching twenty-three hundredths of an inch.
The weather has b^en too cold, but there has been a favorable
charge as the week closes. The thermometer has averaged
42, the highest being 60, and the lowest 21.
Helena, Arkansas.— There have been thunder-showers on
two days of the week, the rainfall reaching twenty-six hun
dredths of an inch. The thermometer has ranged from 10 to
68, averaging 34'7.
Memphis, Tennessee.— W ehavehad rain on two days of the
week, the rainfall reaching thirty-four hundredths of an inch.
Average thermometer 34, highest 67 and lowest 10.
Nashville, Tennessee.— W e have had rain on two days of the
week, the rainfall reaching fifty-one hundredths of an inch.
The thermometer has averaged 33, the highest being 62 and
the lowest 11.
Mobile, Alabama.— It has been showery on six days, but
as the week closes there is a favorable change in the weather.
The rainfall reached seventy-two hundredths of an inch. The
thermometer has averaged 45, ranging from 24 to 72.
Montgomery, Alabama.— W e have had rain on four days of
the week, the rainfall reaching two inches and seventy hun
dredths. The thermometer has ranged from 22 to 63, averag
ing 41.
Selma, Alabama.— It has rained on three days of the week
the rainfall reaching one inch and forty hundredths. Average
thermometer 38, highest 63 and lowest 21.
Auburn, Alabama.— W e have had showers on four days
but as the week closes there has been a favorable change in
the weather. The rainfall reached one inch and seven hun
dredths. Ice on Friday, Monday. Tuesday and Wednesday.
The thermometer has averaged 87*1, the highest being 58*5
and the lowest 17.
Birmingham, Alabama.— Telegram not received.
Madison, Florida.— Telegram not received.
Macon, Georgia— W e have had rain on two days o f the
week.
Columbus, Georgia.— Rain has fallen on two days of the
week, to the extent of four inches and fourteen hundredths.
The thermometer has averaged 37, the highest being 50 and
the lowest 20.
Savannah, Georgia.— It has rained on seven days of the
week, lightly on three, the rainfall reaching one inch and
seventy-five hundredths. The thermometer has averaged 41
ranging from 24 to 61.
’
Augusta, Georgia.—The weather has been wet and dis
agreeable with rain on four days, but at the close of the week
clear and pleasant. The rainfall reached one inch and thirty*
seven hundredths. The thermometer has ranged from 19 to
62, averaging 86.
Atlanta, Georgia.—Telegram not received.
Albany, Georgia.—Telegram not received.
Charleston, South Carolina.— W e have had rain on six
days of the week, the rainfall reaching two inches and fortysix hundredths. The thermometer has averaged 40. ranging
from 25 to 60.
s s
Stateburg, South Carolina.— W e have had rain on four
days of the week, the rainfall reaching one inch and twentvseven hundredths. A s the week closes there has been a favor
able change in the temperature. The thermometer has ranged
from 23 to 60, averaging 36-4.
Wilson, North Carolina.—It has rained on one day the
rainfaU reaching twenty hundredths of an inch, and snow
tell here this week to the depth of eleven inches. Average
thermometer 32, highest 52 and lowest 9.
The following statement we have also received by telegraph
showing the height of the rivers at the points named at 3 o’clock
Jan. 13, 1887, and Jan. 14, 1886.
Jan. 13, ’87.
£ev 9.rlean8- — ....... A bove low -w ater marie.
w' i.Pji*8
-— Abo v e low-water mark.
Hasbville..................... A bove low -w ater mark.
onreveport........... ...A b o v e low-water mark.
YioKsbnrg.. . . . . . . ....A b o v e low-water mark.
Feet. Inch.
4
3
9
6
Miss ing.
2
6
14
0
Feet.
6
21
7
9
»
Inch.
4
2
8
9
3
, :. —
mu m AUii ru K io .— xne receipts
and shipments of cotton at Bombay have been as follows for
the week and year, bringing the figures down to Jan. 13.
BOMBAY RECEIPTS AND SHIPMENTS FOB POOR TEABS.
!Shipments this week
Shipments Since Jan. 1.
rear! great Conti
Great
Conti
Brit’n. nent. Total. B ritain nent.
Total.
18871
1886
1885
1884|
2,000 19.000 21,000
6,000 1,000 7,000
2,000 17.000 19.000
6,000 7,000 13.000
6,000 34.00C
8,000 16,000
4,000 29.000
24,000 31.000
40.000
24.000
33.000
55.000
Receipts.
This
Tear.
Week.
42.000
32.000
21.000
36,000
83.000
62.000
37,000
113,000
<»7
S ?
** to ine roreKoing, Bombay appears to snow an
, compared with last year in the week’s receipts of
t h o u - 6 8 ’ a n d an invrease in shipments of 14,000 bales, and
Tho8 - meu^8 81nce ‘la11* 1 show an increase of 16,000 bales,
the 1mf>vement at Calcutta, Madras and other India ports for
last reported week and since the 1st of January, for two
• ^ een 85 f°U°ws.
“ Other ports” cover Ceylon,
nticorin, Karrachee and Coconada,
95
Shipments fo r the week.
Great
Britain.
Oaloutta—
1887.........
1886..... ..
Madras—
1887.........
1886.........
i l l others—
1887.........
1886.........
2,000
Cotai a l l 1887.........
1886.........
2,400
5,000
Conti
nent.
Shipments since Janu ary 1.
Great
Britain.
Total.
Continent.
Total.
1.400
2,000
1,400
2,000
3.000
3.000
3.000
3.000
1,000
1,000
1,000
1,000
1,500
1.000
1,500
1.000
3.000
2.000
3,000
5,400
5,000
4,500
7,000
3,000
3,000
3,000
3.000
3.000
3,000
7,500
7,000
The above totals for the week show that the movement from
the ports other than Bombay is 400 bales more than same
week last year. For the whole of India, therefore, the total
shipments since January 1, 1887, and for the corresponding
periods of the two previous years, are as follows:
EXPO RTS TO EUROPE FRO M
1887.
AT.T.
IN D IA .
1886.
1885.
Shipments
to all Europe
from —
This
week.
B om bay........ .
All other ports.
21,000
5,400
40,000
7,500
7.000
5.000
24,000
7,000
19.000
4,000
33,000
5,000
T o ta l..........
26,400
47,500
12,000
31,000
23.000
38,000
S ince
J a n .1.
This
week.
Since
Jan. 1.
This
week.
Since
Jan. 1.
A l e x a n d r i a R e c e i p t s a n d S h ip m e n t s . — Through arrange'
ments we have made with Messrs. Davies, Benachi & Co., o f
Liverpool and Alexandria, we now receive a weekly cable o f
the movements of cotton at Alexandria, Egypt. The following
are the receipts and shipments for the past week and for tho
corresponding week of tne previous two years.
A lexandria, Egypt,
Jan. 12.
1886-87.
1886-86.
140,000
2,337,000
This
Since
week. Sept. 1.
140,000
2,293,000
This
S in ce
week. Sept. 1.
This
Since
week. Sept. 1.
Exports (bales)—
To L i v e r p o o l ...... . . . 12,000 174,000
To C o n tin e n t. . . . . . . . 11,000 80,000
6,000 151,000
9,000 84,000
7,000 207,000
9,000j 88,000
Receipts (cantars*)—
This w e e k ....
Since Sept. 1
1884-85.
135,000
2.438,000
Total E n rop e......... 23,000 254,000 15,000 235,000 16,0001295,000
* A cantar Is 98 lbs.
This statement shows that the receipts for the week ending
Jan. 12 were 140,000 cantars, and the shipments to all Europe
23,000 bales.
Manchester Market .—Our report received bv câble to-night
from Manchester, states that the market for both yarns and
shirtings continues firm. W e give the prices for to-day below,
and leave those for previous weeks of this and last year for
comparison :
1886-87.
32« Cop,
Turisi.
N’ v.12
« 19
“ 26
Deo. 3
“ 10
“ 17
“ 24
“ 31
Jan. 7
•* 14
1885-86.
8 k lbs.
Shirtings.
Cott’ ri
Mid.
Upldt
d.
d. s. d . s. d.
d.
73ifi-7Uie 5 7 k 0 6 7*9 5 k
738 0 8
5
738 0 8
5
7 » i 8—7löle 5
73s a s
5
7 38 @3
5
75I6~'71b16 5
—Vloi0 5
7bte—7i&ift 5
7 °!«—71*18 5
7*096
7k06
8 «6
8 06
8 »6
8 06
8 06
8 06
91-306
7*o 5316
71« 5310
8
518
9
514
9
514
10
514
10
514
10
IOI3 514
32« Cop.
h oist.
8 k lbs.
Shirtings.
d.
d. s.
8 07
8 07
8 07
8 07
7k® 7
7 k 07
7 k ®7
7 k 07
7k07
7 k 07
d.
s.
5
5
5
5
5
® 7 78 5
07% 0
5
5
5
CotVn
Mid,
lipidi
d.
Ik
lk
lk
lk
1
1
1
1
1
1
d.
5k
53i«
5k
5aifl
5*1«
5
5
5
5 1!«
Jute B utts, B agging, &o.—The market for bagging has
been quite dull and very little inquiry is reported. Prices are
nominal and sellers are asking G%o. for
lb., 7c. for
lb.,
7% c. for 2 lb. and 8>£c. for standard grades, but an offer of a
shade less would be accepted. Butts are also quiet, and beyond
a few jobbing orders we hear of no business. Paper grades
are held at
1 13-16c., while bagging qualities are quoted
at 2@ 2J£o.
Comparative P ort R eceipts and D a ily Crop Movement.
— A comparison of the port movement by weeks is not accurate,
as the weeks in different years do not end on the same day o f
the month. W e have consequently added to our other standing
tobies a daily and monthly statement, that the reader m ay
constantly have before him the data for seeing the exact relative
movement for the years named.
The movement since
September 1, 1886, and in previous years, has been as follows.
Monthly
Receipts.
Tear B eginn ing September l .
1886.
1885.
1884.
1883.
1882.
Sept’m b’r 359,203 385,642 345,443 343,812 326,656
O ctober.. 1,034,450 1,055, *24 1,090,385 1,046,092 980,584
Novemb’r 1,197,259 1,083,552 1,122,164 1,030,380 1,094,697
Deoemb’ r 1,164,886 1,069,920 1,104,211 1,059,653 1,112,536
1881.
429,777
853,195
974,043
996,807
Total....... 3,755,798 3,594,638 3,662,205 3,479,937 3,514,473 3,253,822
Pero’ tage o f tot. portl
receipts Deo. 3 1 ..[ 66*40
76*68
71*75
58*38
68*93
This statement shows that up to Dec. 31 the receipts at the
ports this year were 161,160 bales more than in 1885 and
y t 593 bales more than at the same time in 1884.
By
a ldiog to the total to December 31 the d a ily receipts since that
tim e, we shall be able to reach an exact comparison of the
movement for the different years.________________ ______________
1886-87. 11885-86.
T ot Dc.31
Ja n . 1 .. ..
44
2 ___
44
3 ....
44
4 __
44
5 ___
«
6 ___
44
7 ....
44
8 ....
44
9 _
44 1 0 ...
44 l i . . . .
44 1 2 ...
44
1 3 ....
44 1 4 ....
[ V o l . X L IY .
THE CHRONICLE.
96
1884-85
1883-81.
1882-83.
1881-82.
3,755,79c 13,594,638 3,662,205 3,479,937 3,514,473 3,253,822
8.
49,366
19,952
10,259
24,177
25,034'
28,330
35,488
18,203
19,022
15,144
8.
24,328
24,056
23,206
18,838
8.
32,649
17,926
29,181
19,977
8.
24,844
25,749
23,405
33,895
14,490
25,885
31,730
18,060
37,231
34,713
8.
21,985
14,401
25,879
17,951
20,021
8.
15,947
20,516
31,673
8.
9,936
39,653
14,637
34,194
18,081
21,640
19,749
16,885
32,314
20,519
8.
26,949
16,348
14,734
21,987
8.
33,684
25,776
15,187
14,129
8.
14,574
23,186
12,362
28,542
15,185
23,086
18,114
17,149
23,752
31,380
8.
20,004
18,770
18,704
12,290
8.
18,021
24,744
17,031
32,111
3,512,7o0
3,630,413
3,885,593
3,917,331
3,848,682
4,057,757
T o ta l.......
Percentage of total
p ort reo’ pts Jan. 14
71-30
82-OC
75-87 ____ 64-55
q -^lybston —F or
Liverpool—Jan. 7 —Bark Eos, 1,235 . . . . Jan. 1 1 Steamer Empress, 5,554.
For Salerno Jan. 10—Brig Carl Gustaf, 1,170.
n
N e w ORLEANS—For L iverp ool- Jao. 8—Steamer Niceto, 5 ,1 0 0 ....J an .
1 0 - Steamers Leonora, 6 .’■00; Mariner. 2,760.
For H a v re-J a n . 8—Bark Peppina, 2,075___Jan. 10—Steamer Suez,
4,100; Ship Charles, 5 ,3 t2.
For Hamburg—Jan. 7—Steamer Alvah, 600
For Bremen—Jan. 10—Steamer Corona, 4,814.
For A n tw erp-Jan . 7—Steamer Pa'm Branch, 2,400.
For Barcelona—Jan. 10—Bark Resuelta, 324.
For G enoa—Jan. 11—Steamer Huntsman, 5,50?.
M o bile —For Liverpool—Jan. R'— Baik Keewaydin, 2.227.
Savannah —For Liverpool—Jan. 10—Steamer Annie, 5,141— Jan. 1 1 Steamer Fernanda. 5,368. ...J a n . 13—Bark Ossuna. 2.801.
For >a v r e -J a n . 8—Bark Ocean, 1 ,8 7 1 ....J a n . 1 3 -B a r k B,elvidere,
74-42
Charleston —F or Liverpool - Jan. 11—Bark Capenhurst. 1,230.
For Bremen—Jan. 8—Steamers Yolo, 3.300; W yvem , 4,400,
For B arcelona-Jan . 11—Steamer Glenfyne, 3.850.
ilmington —For Liverpool—Jan. 8 —Steamer Lis tow, 4 ,9 7 3 .. ••Brig
Diana, 1.123.
For Havre—Jan. 8—Bark Godeffroy, 1.860.
N o r f o l k —For Liverpool—Jan. 8 —Ship Charles Hal, 2 ,5 S 9 ....J a n . 12—
Steamer 0*enh»lm e. 2,700.
F or Ghent—Jan. 1 1 - Bark Lovspring, 1,937*
B o s t o n — f o r Liverpool—Jau . 6 — Steam ers
P a lm yra,
633;
V en etian ,
2,7 03
Jan. 1C—Steamer Norseman, 2,350.
B alt im o re —For Liverpool—Jan. 4—Steamer Oxenholmc. 1 ,8 6 0 ....Jan.
6 —Steamer Alicia, 2,570___Jan. 7—Steamer Oranmore, 4 4 6 ....
Jan. 1 1 —Steam er C a s p ia n ,-------- .
For Brem en- Jan. 12—Steamer Weser, 880.
P h iladelph ia —F or Liverpool—Jan. 11—Steamer Indiana, 633.
For Antwerp—Jan. 7 —Steamer Pennsylvania, 500.
Below we give all news received to date of disasters to ves
sels carrying cotton from United States ports, & c.:
A lba nia , steamer (Br.)—At Bremen from Savannah. 5 0 bales o f cotton,
per steamer Albania, caught lire while lying at her wharf, Jan. 10,
and all were more or less damaged.
D o tt e r e l , steamer (Br.), before reported at Genoa from Savannah.—
Another tire among the cotton from steamer Dotterel has badly
damaged a large number o f bales.
B er e s fo r d , steamer (Br.), fiom New Orleans at Bremen, Jan. 8, re
ports that lire at sea damaged 1,500 hales of cotton.
E a l i n g , steamer (Br.), from Savannah at Liverpool, took lire morning
o f Dec. 29 In No. 2 hold, and about 2,000 bales,cotton were badly
damaged. She was very seriously dam aged; also her cargo. On
Jan. 3 the ship’s plates were cracking through the excessive hea.t,
and the water was finding its w ay fore and aft through sluices in
the bulkheads being open.
O t h e l l o , steamer (Br.), w hich cleared at New York, Deo. 31, for
Stettin, Copenhagen, &c., when proceeding to sea was found to be
top heavy. She returned to her wharf where she was loaded with
additional grain cargo to steady her. She stove a h o ’e in her side
8,868
at the w harf at Jersey City on the 10th. She was taken to the
300
Erie Basin dry dock, Brooklyn, on the 11th, awaiting survey. A
446
portion of her cargo had been discharged.
1,793 Herring & Peterson’s flit, loaded with 2 bales cotton and 84 bbls.
1,102
naval stores, took fire thirty miles up the river from Wil
304
m ington, N. C., Jan. 8, and became a total loss. Loss estimated
$1,000.
to-inieht are now 209,075 bales more than they were to the same
day of the month in 1886 and 140,426 bales more than they were
to the same day of the month in 1885. W e add to the table
the percentages of total port receipts which had been received
to Jan. 14 in each of the years named.
_
,
S h i p p i n g N e w s .— 1
T h© exports of cotton from th© United.
States the past week, as per latest mail returns, have reached
1 10ft hales So far as the Southern ports are concerned, these
H e the same exports reported by telegraph, and published .n
the Chronicle last Friday. W ith regard to New York we
include the manifests of all vessels cleared up to T ^u ^day.
H e w Y o r k - T o Liverpool, per steam ers Assyria, 1 ,6 3 2 ....Ger
manic, 1,956 . . . . Nevada, 293 — Spain, d ,i d J -----vancouver, 1 ,8 1 2 .........- ........... .........................................
T o Hull, per steamer Draco. 300 . . . ...........................
T o Leith, per steamer Critic, 4 = 4 6 .........- - - ............
T o Havre, per steamer La Normandie, 1,793 ...........
T o Bremen, per steamer Elder, 1 ,1 0 2 .......................
T o Hamburg, per steamer Polynesia, 30 4.................
Oottou freights the past week have been as follows:_________
Saiur.
300
177
T o Bremen, per steamers Fern Holme, 5,850— Ormiston,
To Hamburg,* p e r’steamer Sandringham, 60Ò ......................
— To Liverpool, per ship Northumbria, 4 , 3 6 0 . . . . . . . . . . . . . .
per steamers Alcestcr, o,3 7 7 ----Benevolent, 195— per barkTouio, 3 ,2 3 9 ..............................
To Bremen, per steamer Uppingham, o ,a -r* .............................
To Amsterdam, per steamer Hattburn, 5 ,1 7 5 .... . . . . . . . . —
C harleston —To Bremen, per steamers Prooida, 5 ,3 * 0 ...S torra
M
o b il e
S a v a n n a h —To Liverpool,
i
*
G alveston —To Liverpool, per steamers Almanuine, * , ¿ 6 7 . . . .
Regina, 5,8t>7___per ships Mary Stuart, 2,875— Stewart
........................................................... 17,6390
Ä T ’ n ’XVon
)
T o Bremen, per brig Experim ent, 1,040 ....................................
To Vera Cruz, per steamer Harlan, 1 ,l <o .......... ... ..................
l , 170
............
5,202
^
m
in
g
t
o
n
—
To
Liverpool,
per
steamer
Jessmore,
5
,-0
2
WH
To Dunkirk, per bark Th. Thoreson, 1 , 6 0 0 > . . . . . . . . . . . . . . . . . . . . 1,600
N o r f o ik —T o Liverpool, per steamers Bedford, 5,450 . Linn
(VDee, 1,253.„.O ly m p ia , 5,100....T h ornd ale, 3 ,2 5 0 ......... 15,053
WEST P o in t —To Liverpool, per steamer Etna, 6,826..................... 6,826
To Ghent, per steamer Horace, 4 ,2 00 ......................................
A,200
B a l t im o r e —To Liverpool, per steamer Barrowmore, 1,564.........
1^64
T o London, per steamer Darien, 100— . . . . . . . . . . . . . . . . . . . . . .
lot)
B oston —To Liverpool, per steamers Bavarian, 2,5 25— Cepha5.388
lonia, 4 4 1 . . . . Roman, 2 ,4 2 2 .. ...... - - - - - - ................................
T o Yarmouth, per steamer Dominion, 1 0 0 . . . . . . . ...........-- ---100
P h i l a d e l p h i a — To Liverpool, per steamer BritishPrincess,1,172
1,172
T o t a l ......— . —. ——- — - - — - —......... ——
................ ...... ...— 166.662
The particulars of these shipments, arranged in our usual
form , are as follow s;
H e w Y ork.
N. Orleans.
M o b ile .......
Savannah..
Charleston.
G a lv e sto n .
W ilm ingt’ n
N orfolk___
W est Point
B a ltim o re .
B oston . . . .
Pliiladel’ia.
J—
YarBolterdam,
LiverBarce- mouth
Amsterd.,
wool Havre
Iona
and
and Brevi. Antw’p
and
Vera
and Sebas- and
L on B un- and
Icirlc. Hamb. Ghent, topol. Genoa. Cruz.
don.
1,300 .........
8,868 1,793 1,406 1,328
21,’177 41,792 15,681
4,360 ............................................................................
8,831 ......... 5.925 5,175 ....... ............................
......... 9,560 ......... 3,700 .......................
17.*6*39 . . . . . . 1,040
.............. ......... 1,170
5,202
Total
15,941
78,650
,
19,931
13,26.)
19,849
Mon.
Tuet.
F ri.
Wednet. Thurt.
Liverpool, steam d.
He4®3i e 1,64®316 11€4®316 1164®316 1164®316
....
—
....
....
....
—
Do
sa il...d .
716
•16
Havre, steam . ..c .
7ie
7ia
716
716
... •
...
....
....
....
....
Do sail.........e.
Bremen, steam ..c. lie ® 1!! lie ® 1« 716® hi ■ile®1« 716®1« lie ® 1«
....
....
....
....
....
....
Do
sail . . . . c .
716
716
Hamburg, steam, c.
7I6
716
716
7ie
....
....
....
....
....
....
Do
sa il....c.
50*
50*
50*
50‘
50*
50*
Amst’d’m, steam c.
....
....
....
....
....
....
Do
sail... c.
R eval, steam .. . . d. 17e4«5lß 17e4®5is 1764®516 1764®516 iie4® bie 17«4®516
....
....
....
....
....
....
D o sail......... d
*4
Barcelona,steamd.
•*4
Genoa,steam — d.
H
®32
®S2
932
®32
Trieste, steam . . . d.
932
9S2
Antwerp, steam.rf. 532 ® 1164 53 2 ® 1164 53 2 ® 1164 &3 2 ® 11e4 B3 3 ® 1164 83 2 ® l l 64
______ _____ —------------------Per 100 lbs.
_ _ „
L i v e r p o o l .— By cable from Liverpool we have the fouowmg
statement of the week’s sales, stocks, &c., at that port.
Dee. 24.
Bales o f the w eek............ balesO f w hich exporters took —
O f which speculators took..
Bedes A m erican.........................
Actual e x p ort................... . . . . .
F o r w a r d e d ........ . . . . . . . . . . . .
Total stock—Estimated......... .
Of which American—Eatim’ d
Total im port o f the w eek.........
Of w hich A m erica n ..............
Amount a flo a t..... . . . . . . . . . . . .
Of whioh A m erica n ..............
59.000
5.000
3.000
45.000
10,00u
21.000
584.000
403.000
95.000
78.000
326.000
251.000
Dee. 31.
37.000
3.000
2.000
27.000
8,000
13.000
672.000
437.000
146.000
127.000
326.000
285.000
Jan. 7.
51.000
4.000
3.000
33.000
4.000
34.000
728.000
534.000
138.000
107.000
308,00C
290.000
I
We
Jan. 14»
65.000
7.000
4.000
44.000
10.000
24,000
766.000
578.000
127.000
113.000
288.000
261,000
The tone of the Liverpool market for spots and futures each
day of the week ending Jan. 14, and the daily closing prices
Thursday. Friday.
Saturday Monday. Tuesday.
Wednes
Barely
M ark et, \ In buyers’ In buyers’
supported
favor.
favor.
1 2 :3 0 P.M.J
Small
inquiry.
Freely
offered.
Fair
business
doing.
514
53g
514
5%
5*4
53»
1 0 ,0 0 0
1 ,0 0 0
1 2 ,0 0 0
2 ,0 0 0
1 0 ,0 0 0
1 ,0 0 0
Spot.
5&16
53a
U pl’d s . ---*
ilid .O r l’ns.
5 Bts
5®8
5Bia
538
Mid. Sales *
Spec. exp .
8 .0 0 0
1 ,0 0 0
1 0 ,0 0 0
1 ,0 0 0
T o ta l... 96.180 45,185 33,612 10,703 3,700 1,300 1,270 193,196
Included in the above totals from New Y ork are 300 bales to Hull, 446
h a les to Leith, 200 bales to Copenhahen, and 300 bales to Christiana.
Futures.
Market, Ì
12:30 p . m . $
Below we add the clearances this week of vessels carrying
cotton from United States ports, bringing data down to the
Dull at
1-64 de
cline.
Steady at
1.64 ad*
rance.
Easy at
1-64 de
cline.
Quiet at
partially
1-64 dec.
Firm at
1-64 ad
vance.
Steady at
1-64 de
cline.
Market, Ì
4 P. M. f
Easy.
Steady.
Quiet.
Steady.
Firm.
Easy*
6,826
latest dates:
.. .......................................................
......................
4,200 ................<■....... — ] 1L 026
1,664
5,488
... .
100
_ ___
1 0 ,0 0 0
2 ,0 0 0
The opening, highest, lowest and closing prices of futures for
Liverpool for each day of the week are given below. These
prices are on the basis of Uplands, Low Middling clause, unless
otherwise stated.
o r The prices are given in pence and 64ths, th u s:
4 63-64d., and 5 01 means 5 l-6 4 d .
N on.« J a n . 10«
S a t., J a n . 8«
4 63 m eans
T iles., J a n . 11 .
8.
d.
d.
d.
d.
d.
d.
d.
d.
d.
d.
514
5 13
5 13
514
615
517
519
5 81
5 23
514
513
513
5 14
515
5 17
5 19
521
5 23
5 14
5 13
513
514
515
517
519
5 21
5 23
514
513
513
5 14
515
517
5 19
5 21
5 23
514
511
514
515
5 16
5 IS
620
5 22
5 24
514
514
5 14
515
51 6
518
5 20
5 22
5 24
5 14
514
5 14
515
516
518
5 20
5 22
5 24
5 14
514
514
5 15
518
518
5 20
5 22
5 24
514
5 13
613
5 14
515
5 17
519
521
5 23
514
5 13
5 13
514
515
5 17
5 19
5 21
5 23
5 14
513
5 13
5 14
5 15
517
5 19
521
5 23
W e d n e i., J a n . 1 2 .
Open High Low.
Jan u ary ....
Jan-Feb.......
Feb.-March
Mar.-Apr ..
Apr .-May ..
May-June..
June-July..
July-Aug ..
A u g.-Sept..
CIO*.
d.
5 14
5 13
513
5 14
5 15
5 17
5 19
5 21
5 23
F r i.. J a n . 1 4 .
T hura., J a n . 1 3 .
Open High Low. Clot. Open High Low. Clot
d.
d.
d.
A
d.
d.
d.
d.
514
6 13
513
514
5 15
5 17
519
5 21
6 23
5 14
5 13
5 13
514
515
5 17
5 19
5 21
5 23
514
5 13
513
514
515
5 17
51»
5 21
5 23
514
5 13
513
614
5 15
5 17
519
521
5 23
5 15
5 15
5 15
5 16
517
518
5 20
5 22
5 24
515
5 15
515
516
517
518
5 20
5 22
5 21
5 15
5 14
5 14
515
516
5 18
5 20
5 22
5 24
5 15
5 14
514
5 15
516
5 18
5 20
5 22
5 24
d.
d.
d. * d.
514 514 513
5 13 5 13 5 12
513 513 513
5 14 514 5 14
5 15 515 5 15
517 517 517
519 5 19 519
5 21 521 5 21
5 23 523 5 23
5 13
5 12
5 13
5 14
515
517
5 19
5 21
5 23
BREADSTUFFS.
F r id a y . P . M.. January 1 4 ,1 8 8 7 .
The flour market has been rather quiet, holding prices bare
ly steady for the week under review.
The weather and the
streets have not been favorable to the local trade, and the for
eign advices were not sufficiently strong
demand for export.
to stimulate the
A quiet, steady market is therefore the
best that can be reported ; and at the same time values of the
coarser stuffs are not fully maintained, although the range
o f figures shows but little alteration.
To-day low grades of
wheat flour were in demand and dearer.
The market for wheat was dull and drooping down to the
close of Wednesday’s business. The large visible supply, the
free movement of the crop, and the quieter foreign advices
gave huyers the advantage, and caused the “ bears” to the
speculation to attack values with renewed vigor. The lower
prices were, however, followed by a renewal of free purchases
for export, and again the war-cloud hanging over Europe
gave the “ bull” party renewed courage— so that in the later
dealings on Thursday prices were improving. To-day a firm
opening was followed by some depression.
DAILY CLOSING PRICES OP NO. Z RED WINTER WHEAT.
January delivery______ . . .
F ebruaiy delivery......... . . .
M arch delivery............... . . .
A pril d e liv e r y .............. . . .
M ay delivery................. . . .
June d e liv e r y ,.............
Ju ly delivery.................
August delivery ..........
September delivery. ... . . .
Sat.
91%
92%
94%
95%
96%
98%
Mon.
92%
93%
94%
95%
97%
97%
98%
98%
99%
Tues.
91%
92%
93%
95
96%
97
97%
97%
98%
Wed.
91%
92%
93%
95%
96%
97%
97%
98
93%
Thurs.
92%
93
94%
95%
97
97%
98%
98%
99%
Fri.
91%
92%
93%
95%
96%
97%
97%
....
Indian corn declined, but the reduction in prices letting in
export orders to some extent, values became steadier. Still
there is no very dominant feature to the market. Choice
white seems to be wanted in a moderate way.
To-day the
market was quiet and nominal.
DAILY CLOSING PRICES OP NO. Z MIXED CORN.
Sat.
January delivery................ 4 7 'a
February delivery.............. 48%
May delivery....................... 51%
Mon.
47%
4838
51
Tues.
473s
48%
50%
Wed.
47%
48%
50%
Thurs.
47%
48%
51%
Fri.
4 7 38
48
50%
Oats have been dull and drooping, and in white grades there
is a loss of much of the recent advance. The state of the
streets has checked trade, and buyers for speculation almost
wholly retired. To-day the market was dull and unsettled,
DAILY CLOSING PRICES OP NO. Z OATS.
Sat.
January d e liv e r y ............... 35%
February delivery..........
M arch delivery................
M ar d e liv e r y .................. .. 37
Mon.
35%
35%
36%
36%
Tues.
35%
35%
36%
36%
Wed.
35%
35%
86%
36%
Thurs.
35%
35%
36
36%
Fri.
35%
35%
35%
36%
Bye is quiet and unchanged. Buckwheat is rather more
plentiful.
Barley is firmly held with a moderate business.
Barley malt is in good demand at full prices.
L.The following are the closing quotations:
FLOUR.
Fine...................t fb b l. $2 3 5 « $3
Superfine.................. . 2 5 0 » 3
Spring wheat extras. 3 2 5 » 8
Minn, olear and stra’t. 3 80 » 5
Winter sliipp’g extras. 3 2 5 » 3
Winter X X & X X X .. 3 8 0 9 5
4 60» 5
Patents............... .
Southern s n n e r s ...... 3 2 5 » 3
8 oath’ n oom. e x tr a s .. 3 65 9 4
15 Southern ba k ers’ and
fam ily br ds. %) bbl $1 2 5 « $5 25
32
75 R ye Sour, superfine.. 3 1 0 9 3 20
00
F in e ................
2 3 0 9 2 60
75 Corn meal—
Western.
___ . . . .
00
2 3 0 » 2 80
40
B randyw ine............ 2 8 5 *
60 B’kw h’ c&our,$) lOOlbs 1 7 5 9 1 85
00 !
GRAIN.
Open High Lou. Clot. Open High Low. Clot. Open High Low. Clot
January. . . .
Jan.-Feb....
Feb.-March
Mar.-April..
Apr 11-May..
May-June .
JUDP-July..
J u ly -A u g...
A u g.-S ep t..
9T
THE CHRONICLE.
J a n u a r y 15, 1887.]
d
w
f
Wheat—
Bpring,per bu sh .
Spring No. 2. new
Red winter, No. Z
Red w in t e r .........
W hite....................
Corn—West, m ixed
West. m ix. No. 2 .
West, w h it e ......
West, y ellow .......
White Southern..
Yellow Southern.
R ye—
state & P a., $ bash
82 9
91 «
93 »
SI 9
82 9
44 9
47*4 »
46 9
45 9
50 9
47 9
56
9
Oats—M ix e d ....... ...... 34 9
39 9
W hite................. .
No. 2 m i x e d . . . . . . . . . 3 5 % »
No. 2 w h it e ............
Barley—C an ada......... 68 9
W estern..................... « 0 ft
Two-rowed State___ 61 9
48%
Six-rowed S ta te ...., 65 9
51
Malt—
50
Slate, 6 - r o v e d ...... 80 9
54
State, 2-rowed......... 68 *0>
50
W e s te r n ....,............ 75 9
Peas—Canada............. 64 9
58
Buckwheat................... 56 9
97
93
94
96
94%
49
37%
43
36%
40%
80
6«
63
69
85
73
85
66
...»
l'be movement of breadstuff» to market is indicated in tJbe
statements below, prepared by us from the figures of the N ew
York Produce Exchange. W e first give the receipts at W estern
lake and river ports, arranged so as to present the compara
tive movement for the week ending Jan. 8, 1887, and since
July 24, for each of the last three years:
(Ueeipte at—
Com.
Wheat.
Oats.
Flour.
Barley.
Ittn,
Bbls.lWlbs Bush.80 lbs Hush.56 lbs Bush.32 lbs Bush AHlbs Bush.56 lb*
Cleveland. ..
St. Louis. ..
Peoria............
122,433
25,707
8,199
2,938
3Ì903
18,280
4,475
383,390
230,520
92,357
177,330
42,800
69,405
8,500
653,534
1,093,585
22,560
92,593
52,784
22,000
646,040
126,950
633,317
32,750
0,940
18,032
20,000
79,000
104.975
203.564
90,780
2,604
23,749
5,500
85,200
21,000
; 9,359
4,000
Tot. wk. ’87.
Same w k .W .
Same wk.’83.
185,805
107,462
182,837
1,657,842
737,845
1,474,241
2,050,512
1,067,511
2,195,808
893,020
543,451
700,712
432.396
417,932
372,322
32,007
35,591
44,002
4,951,714 60.411,341 44,981.415 84.976,302 14.548,671
4,008,828 41.262,226 45,459.428 31.113,991 12,947.945
5,123,478 74,053.036 42.563.806 30.900.044 10,246.033
1,327,234
2,070,240
3,372,08
Chicago.........
Milwaukee...
Toledo...........
13,80S
1,480
3,389
Since July HA
1880-7.........
1 8 8 5 -8 ......
1984-5.........
The comparative shipments of flour and grain from the same
ports from Jan. 1 to Jan. 8, 1887, inclusive, for four years,
show as follows:
F lo u r ... ....b b l e .
1887.
253,547
1838*
457,342
1885*
664,826
1884.*
516,920
W h ea t.... .bu sh .
C om .............
O ats...................
B a rle y .................
R y e . . . ..............
217,827
417,840
697,902
185.926
8,570
463,636
3,781,902
1,903,560
692,674
92,443
1,031,595
3 ,6 3 0 .4 »!
1,229,363
364,860
115,356
9 6 #,99 0
2,9u2,58Z
1,083,910
387,280
131,638
Total g r a in . . . .
1,528,085
6,936,215
6,371,605
5,535,400
' include one extra week.
Below are the rail shipments from W estern lake and river
ports for four years:
18 87.
Week
Jan. 8.
F l o u r ..« ..................... bb ls. 253,547
18 86.
Week
Jan. 9.
129,815
W h e a t . . « « . ............bush.
C o m ..., ....................
O a t s . . . . ............................
B a r l e y ............................
R y e .......................
183,279
810,028
571,500
231,670
24,753
.
217,827
417,340
697,902
185,926
8,570
T ota l............................. 1,528,065
1885.
Week
Jan. 10.
24»,022
1884.
Week
Jan. 12.
189,592
382,206
405,778
1,565,445 1,103,404
536,462
431,813
104,523
153,406
63,448
74,500
1,821,230 2,652,084
2,173,901
The rail and lake shipments from same ports for last fo u r
weeks were:
Week
ending—
Jan. 8,’ 87
Jan. 1,’87
Dec.25,’86
D ec.l 8,’86
Flour,
bbls.
253,547
242,176
279,655
215,808
Wheat,
bush.
217,827
394,980
330,800
306,162
Tot., 4 w . 991,186 1,219,799
4w’ks’86. 499,494
679,079
C orn,
bush.
417,840
568,356
660,731
627,174
Oats,
bush.
697,902
551,321
720,967
779,008
2,274,6012.749,198
4,897,6412,573,157
B a rley ,
bush.
185,926
218,769
252.478
277,674
R ye,
hush.
8,570
11,954
18,919
21,509
931,847
950,682
10 ,95*
122,810
The receipts of flour and grain at the seaboard ports for the
week ended Jan. 8, 1887, follow:
Flour,
bbls.
At—
New Y ork . . . . „ 152,263
B o ston .. . . . . . . „ 61,130
....
Portland . . . . .
4,641
M o n trea l........
Philadelphia.. . 34,260
Baltimore.......,. 59,004
3,100
Richm ond___ _..
7,285
New OrleanB..,.
Wheat,
bush.
358,600
113,342
O om ,
bush.
531,076
141,909
Oats, B arley,
bush.
bush.
209,950 53,125
90,359
5,107
R ye
bush.
9,3 00
600
12,865
161,588
198,203
22,746
39,450
202,798
263.150
12,161
86,358
14,950'
59,530
11,378
5,921
419,717
2,400
200
460
Total w eek ..,. 321,683
Cor. week ’ 86... 193,083
906,794 1,237,452] 811,805 84.732
127,873 ! ,742,882 485,785 167,417
1,300
25,200
13,010
9,04(5
The total receipts at the same ports for the period from J an .
1 to Jan. 8, 1887,,compare as follows for four years:
F lo u r ..... ..b b ls .
1887.
321,683
Wheat . . . . . b a s h .
C o r a ..... . . . . . . . .
O a t s ... .. . . . . ..r .
B a rle y .. . . . . . . . . .
R y e ..... . . . . . . . . .
906,794
1,237,452
811,805
84,732
13.010
T otal g r a in ....
1886*
598,236
1885.*
692,863
1894.*
705,569
414,883
6,301,430
1,440,670
466,080
34,018
G .
3,053,793 ™ 8,657,129
1,670,750
4,365,309
1,073,090
234,663
31,622
64 6,74 »
2,042,896
1709,193
37 6,70 0
96,842
7,430,434
72,380
* Include one week extra.
K
THE CHRONICLE,
98Z:
i The exports from the several seaboard ports for the week
ending Jan. 8, 1887, are shown in the annexed statement:
Exports
from —
Hew York
B osto n ...
Portland.
N. News.
Philadel..
B altlm ’rt
N. O rl’ns
B ichm ’nd
Wheat.
C om .
Flour.
Oat».
Bush.
788,112
74,3V 9
131,389
Bush.
247.678
78,836
Bush.
2,992
88.033
294,299
16,037
32,000
4,760
228,710
183,984
Bblt.
116.825
55,795
7,032
4.190
5,035
87,535
903
14,139
291,454
13,202
76,710
5,641
Tot. w ’k 1,392,199 775,968
B’m e time
864,665 1,279,104
1886.
Pea».
Eye.
Bush.
8,105
10,210
Bush.
3.434
44,792
41,955
.........
Wheat.
Flour.
1887.
Week,
Jan. 8.
1886.
Week.
Jan. 9.
1887.
Week,
Jan. 8.
1886.
Week.
Jan. 9.
90,181
8,105
9,336
Un.Klng.
Contln’nt
B.AC.Am
W. Indies
Brit, c o l’s
Oth.o’n’ ts
m is
204,556
20.841
45,418
12,199
7,623
8x7
Bush.
Bblt.
44,852 ¡,031,286
2,707 310,901
15,323
2.486
11,019
....... 12
323
Bush.
203.115
161,520
T o ta l...
291,454
76,710 1,392,199
364,665
...........
Oorn.
1887.
Week,
Jan. 8
Bush.
597.215
110,945
26,710
9,944
1,154
1846
Week.
Jan. 9.
Bush
992.707
372,907
761
2,144
10,585
775,969 1.279,104
The visible supply of grain, comprising the stochs in granary
at the principal points of accumulation at lake and seaboard
ports, andin transit by rail and water, Jan. 8, 1887 :
E ye,
bush.
40,305
1.500
8.500
3 ,233
153,339
Barle t ,
bush.
275,204
150,000
193,400
217,364
294.614
7,934
321,491
57,024
.........
16,800
3nf181
29,000
1,143
4,249
21,676
20,006
801,088
04.570
84.000
83,661
181,96»
53,019
15,473
950
7,894
1.386
3,597
Total stock, (pieces)............ 224,000
436,000 1,417,000
772.000
15,077.848 4,877.847 438.607
13,783.414 5.026.610 435.429
9,lo8 ,003 2,749,657 736,438
5.444.! 17 2.378,415 720,460
10,029,656 5,891,560 2,628,462
2.724.079
2,785,793
2.203,948
1,733,0;5
3,165,6x8
I m p o r t a t io n s o f D r y G o o d s .
The importations of dry goods at this port for the week
ending Jan. 13, 1887, and since Jan. 1, and the same facts for
the corresponding periods are as follows:
a
aot
coto
p
K) 05
O»^
CP®
05 X
0-4
CPgo to v j «
WtO©^*^
« to \
i.a «
i- m m h
tO CO05 CP ^
CPMH» « «
OX> JOMO
MtOO CPO
COtOO 00
tOO M O 05
p- W
M M
bo<i OOMtOOrf*»
gO05 l-4 QOCPCP
<1050 JO
tOM
top
bobj
M05
« CP
C5X tO -1to
CDJ. s- rfi ifc,
goto O 05 «
If»- a
00£
HWlCQOO
81
O 3505
to CO-1 Q to
to t CoCOMto 1-4
00 I 'o 'o 'îo'td'ço
go co a» co oo<j
M ! 05XX 05C5
. CO I
k* ! «rf¡»00<l
to o to —to «
go WCJ« <105
« cptf^btao
f-aoco^rfk
00{
o V 'i o V
c&cpcp« .-
gç CP toco 3*
to to 00CP05
p p £*•MO Tib
05U1MtoVl
w ocooo:
M
«0
05tO00 05
tOCPWrOtO
00X 00O M
to
282,261
415,868
250,570
158,959
161,719
1,269,377
4,399,787
5,669,164
^
j
«00 i MM Mto to
gO05 to tOf^tf^ lO
p p 1 MQO^-Mp
<JO s 05CPCP©
00M <0CPgo»-CP
'<J00 1 O*<J« »1 05
Í*
pif^oto
COJOy»<j
172,171
179,129
110,816
88.103
40,177
36,992
M
O
p*
to go 05^» qp
H*05Mto to
t0Q0lF»>gOO5
go ^ CO054*
a .H O j.H
05CP“J to go
s
m
m
SR“fa!
cc to
CO
M CO*—
*
V-go
go CO 05<1<1ifc*-1
CP top j. tCH OJ55
C Vcoobji
5 COA* O 00O * 00
on CP«
M
p j
to
go ! CPM ! 05 tOC5
w i KO ^
<4
Ml CP05 *4 CPWCP05
« Í®
to 05CP
5° 00p
cow
00*0
f-05
38,608 1 5,261,8351
Hh H
to go
<105 0*^05
bob***- « tf*
WAOtOdcow.-* «neo
14.149
22.843
M J 00 tO
to i V^i
« 1 to 03
1 oigo
« to
CO1 050*
f- ! K/gO
oo S°P
COj COJ»
M h 0005
to :
g
M anufactures o f— |
W o o l...... . . . . . . .
C o tto n ... . . . . . . . .
811k ........................
F la x ......................
M iscellaneous.... .
4.314
12,894
totoccto
05O O CPsO
gw5l*<J^ CP
ate a**
00to CP00«
fr*05000 05
T o t a l ... ............
Ent’ d for oonsumpt
729,135
2,201,560
I
17,208
1Wp
05 1
tO goto
- ! to ^4
o i to
M «go
go 1 CP*-
Total on m a rk e t...
M
p
05
05
M 00CO
on I V o I. CO05tO*4-i*
O «ÎO gD*-05^J£*
« 1 COff* W^O'tO'J
12,930,695
The dry goods market has presented a more active appear,
l a n c e the past week, the arrival of numerous jobbers au(i
department buyers from the W est, Southwest and South
having contributed to this result. Specialties in spring and
summer goods have shown most activity, but there was also
a very fair demand for staple fabrics by jobbers and the manu
facturing trade, and a moderately good business was accom.
plished by the domestic commission houses. The demand for
imported goods was somewhat irregular and upon the whole
sluggish, but there is already in the market such a large force
of out-of-town buyers that an early improvement in this
branch of the trade is confidently expected.
The jobbing
trade was a trifle more active, and a fairly good package
business in domestics, prints, & c ., was done by some of the
large jobbers. Staple cotton goods are in such exceptionally
small supply that prices remain very firm with an upward
tendency, and the tone of the general market is steady,
because of the limited stocks on hand, and the large demand
in sight.
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 during the week ending January 11 were 3,888
packages, and the ptincipal shipments were'as follows : China
2,152 paskages, Hayti 318, Brazil 297, British W est Indies
145, Mexico 143, U . S. of Colombia 138 and Santo Domingo
127, ’ The demand for brown and bleached goods at first
hands was more ac ive, and there -was a fair business in
M
O*
to
M_
p
bo
ca
M
b*
^4
770
1,175
406
P52
1,011
N e w Y o r k , ¡Friday, P. M., Jan. 14, 1887.
172,070
228,870
145.415
124.438
58,342
THE DRY GOODS TRADE.
.
* Minneapolis and St. Paul not included.
Jan. 1 2 ,
1884.
105.OOO
316,000
266,000
85,000
Manufactures o f—
W o o l..... . . . . . . . .
Cotton...................
8ilk........................
F l a x . . . . ..... ........
Miscellaneous ........
Jan. 8. '8 7 . 63,345,689
Jan. 1, '87. 62,720,869
Jan. 9, ’86. 57,958,176
Jan. 1 0 ,’85 '4 2 ,6 2 9 ,9 8 8
Jan. 12, ’ 84* 35,0u5,67o
Jan. 9, Jan. 10,
1886.
1885.
108.000 437,000
360.000
58,000
230,000 320.000
40,000
300,000
T o t a l .................
Bnt’d f or oonsumpt.
Tot.
Tot.
Tot.
Tot.
Tot.
Jan. 8,
1887.
79,000
63.000
42,000
40,000
Fancy prints were more active in demand, and a fairly good
business was done in shirting prints, lawns, ginghams, wash
fabrics, white goods and scrims by the leading commission
houses;
D o m e s t ic W o o l e n G o o d s . — Although there was some im
provement in the demind for clothing woolens, business in
this branch of the trade was hardly up to expectations. Over
coatings, especially rough-faced goods, were in fair request
and really desirable makes are well under the control of
orders. Heavy cassimeres and suitings continued in moderate
demand, and heavy worsteds were more or less quiet, but
agents continued to make fair deliveries of light-weight goods
on account of back orders. Satinets were fairly active in
some quarters, and there was a moderate business in Kentucky
jeans and doeskins at steady prices. Cloakings ruled quiet in
first hands, but there was more inquiry for Jersey cloths by the
manufacturing trade, with fair resultant sales. All-w ool and
worsted dress goods continued in fair request, and sales,
coupled with deliveries on account of former orders, reached
a satisfactory amount. Flannels and blankets ruled quiet, but
steady in price, and there was only a limited demand for shawls
and skirts, while there was a very fair movement in carpets.
F o r e i g n D r y G o o d s were more active in movement than
in demand, fair deliveries of dress goods, embroideries, linen
goods, hosiery, &c., having been made by importers in execu
tion of former orders, while ne w business was only moderate.
Silks were mostly quiet in first hands, but prices are steady,
and ribbons have been subjected to a slight advance. Men’swear woolens have met with a fair share of attention, and
some moderately good orders for heavy weights were placed
for future delivery.
Total at the p o r t...
Wheat,
C om ,
Oat»,
I n »tore at—
bush.
bush.
bush.
n e w Y o r k ............ 10,610.751 3,069,200 1,079,600
863.000
38,200
25,000
D o afloat.........
A lban y ..................
11,070
38,400
98,000
Buffalo.................. 3,232,734
280,758
4 ,x l l
Chicago...................13,157.897 6,257.566 979,097
D o afloat.........
90,000
379,243
.........
M ilw au k ee.... . . .
3,300,907
4,812
.........
D o a f lo a t ......
.........
......
......
............................
Duluth.................. 9,701,735
Do afloat.........
141,000
............................
T oledo................... 4,233,754
270,745
38,300
D o afloat.........
22,500
............................
D etroit.................. 2,521,089
201,754
16,930
O s w e g o ...............
175,000
115,<00
.........
B t.Louis............... 4,225,393 2,212,258 582.875
Cincinnati............
78,000
21,000 136.000
B o s to n .............
389,830
193,780 422,911
T oronto.............
139,387
.........
16,678
Montreal .............
255,264
61,108
65,072
P hiladelphia....... 1,107,691
746,867
64,550
P eoria....................
10,479
203,240 988,185
Indian apolis.......
131,375
166,725 344,650
Kansas C i t y ... ...
323,059
3 o 3 ,0 l4
15,177
B a ltim o re . . . . . . . .
623,559
569,088
......
Do afloat.
M inneapolis. . . . . . 7,141,875
Bt. Paul..................
720,000
On M ississippi...
.........
On lakes...............
94,000
On canal & river.
54,200
colored cottons, wide sheetings, cotton flannels, corset jeans,
& c., leading makes of which are in meagre supply, and very
firm at current quotations. Print cloths were only in moderate
demand, and 56x60s have declined to 2 15-16c., but extra
64x64s remain firm at 3% c. Stocks last Saturday and for the
three previous years were as follows :
Stock o f Print Cloths—
Held b y Providence manuf’rs.
F ell R iver m anufacturers...
Providence speculators.........
Outside speculators (est).......
4
The destination of the exports is as below.
W e add the
Corresponding period of last year for comparison.
Export»
tor week
to—
[Y ou XL1Y,
CPMQOtOCP
OCOtOCOtP
00CoCOQOJu
J^COM^O
05 05 to
oo
*wv|c35pCw
O-h
05-fpptfU,CBp
000003 0*«
to 00 O* 05 05
^w o^o
Ï? ■
r a It.
oog*
v i:
THE CHRONICLE.
J a n u a r y 15, 1887.J
JBatifcs, Satxlijers auxl % xa kzxs (Dut uf fje w llor& .
P E N N S Y L V A N IA .
B A N K S.
GKO.
Sturges. Pres’t.
F. W , G o o k in , Asst. Casli.
North-Western N a tl Bank,
C H IC A G O , IL L IN O IS .
C a p ita l, $ 2 0 0 ,0 0 0 .
S u r p lu s , $ 5 0 ,0 0 0 .
This Bank holds in addition $1,000,000 U. 8 .4 per
sent Bonds at pat, pledged by its stockholders for
the protection of its customers. Said bonds are
pledged as above, instead of being held by the Bank
as a part o f its legal surplus, to avoid what we think
unjust and excessive local taxation.________________ _
Sh e r m a n S.J e w e tt , Pres. J o s ia h J e w e t t , V.Pres.
W il l ia m C. Co r n w e l l , Cashier.
Bank o f Buffalo,
C A P IT A L ,
- - - - - - BUFFALO, N. Y .
Members o f the Philadelphia and New York Stock
Exchanges.
Cable Transfers, Bills of Exchange and Letters of
Credit.
PITTSBURG,
ESTABLISHED
The Bank o f Durham,
DURHAM ,
N . C .,
Pay Special A ttention to Collections.
FIRST-CLASS FA CILITIES.
New York Correspondents.—The N tional Park Bank
_________and Seventh Ward Natiot
Bank._________
HOUSTON, T E X A S.
C a p i t a l,.................................... $2 00 ,0 00
Collections receive our special attention and are
promptly remitted for._____________________________ __
J. G. Fletcher, ( ST A T E B A N K , 1C. T. Walker,
President. \ Incorporated 1875. J
Cashier.
German National Bank,
L IT T L E R O C K , AR K AN SA S.
C a p ita l (P a id In ) - - - - - $ 2 0 0 ,0 0 0
Prompt attention given to all business In our line.
N. Y. Co r r e sp o n d e n t s .—Importers’ & Traders’
National Bank and National Bank of the Republic.
B. E. BURRUSS, Pres’t.
A . K . W a l k e r , Cashier.
W I L M I N G T O N , N . C.
M ERCHANTS’
N A TIO N A L
B A N K E R S A N D 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 of the Philadelphia and New York Stock
Exchanges, and connected by private wire with New
York.
—
——
— mwwpm-agcuiKagifta. 3— gw—
—
B A L T IM O R E .
Wilson, Colston 6c C o.,
BANKERS AND BROKERS,
(Members of Baltimore Stock Exchange),
B A L T IM O R E .
(IN V ESTM EN T and SO U TH ER N SECURITIES a
specialty.)
Correspondence solicited and information fur
nished.
N. Y. Correspondents—McKim Brothers & Co.
Robert Garrett 6c Sons,
BANKERS,
N o.
7
SOUTH
STR EET,
B A L T IM O R E ,
TR A N SAC T A G E N E R A L DOMESTIC
FOREIGN B A N K IN G BUSINESS.
AND
W ESTERN.
Collections made on all Southern points on best
JOHN P. B RA N C ' . President.
Jo h n F. G l e n n , Cash. F r e d . R. Scott , Vice-Prea’t
Chas. H. Potter 6c Co.,
N E W ENGLAND.
INVESTMENT BANKERS,
C L E V E L A N D ,
O H I O .
S P E C IA L T IE S :
35
C O N G R E SS
TO W N . COU NTY AND C ITY BONDS,
L A K E SUPERIOR IRON MINING STOCKS,
AN D STREET R AILR O AD SECURITIES
ESTA B L ISH ED 1871.
P. F. Keleher 6c C o.,
B AN K ER S,
No.
STREET,
305 O L IV E STREET, ST. LOUIS,
B O STO N .
D e a le r s In W e s t e r n S ec u rities.
MEMBERS OF THE NEW Y O R K AND
BOSTON STOCK EXCHANGES.
Defaulted Bonds of Missouri, Kansas and Illinois
a specialty. Good Investment Securities, paying
from four to eight per cent, for sale.
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 ite d S tate» R o n d s ._______
J o sh u a W il b o u k ,
Ch a r l e s H. Sh e l d o n , J r
Be n j a m in A . J a c k s o n , W il l ia m B in n e y , J r .
Wilbour, Jackson 6c C o.,
N. W . Harris 6c Co.,
C H IC A G O and B O ST O N .
B flM riQ
Counties, Cities, Afe., o f high grade a
D U I v U o specialty. S e n d t'o r D e s c r ip t iv e L in ts,
SOUTHERN.
B A N K E R S AN D IBR OK ER S,
N o. 52
W EYROSSET
STREET,
P R O V ID E N C E , K . I.
Dealers in Commercial Paper, Government and
other first-class Bonds and Securities and Foreign
Exchange.
Private Telegraph W ire to New York and Boston.
P E N N S Y L V A N IA .
Rea Bros. 6c C o.,
B A N K E R S A N D BROKERS,
AN D D E A LE R S IN FOREIGN E X C H A N G E,
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.
C. W . Branch 6c Ccx,
R IC H M O N D ,
VA.
Private wires connecting with Washington, Balti
more, Philadelphia and New York.
New York correspondents. Prince & W hltely.
2 V \ ic tio tt
B AN K ,
Brewster, Cobb
6c Estabrook,
Circulars and Information on funding the debts of
Virginia and North Carolina free of cost; one-eighth
per cent charged for funding. Southern Railroad
and State and City Bonds bought and sold.
AVENUE.
E. W . Clark & C o.,
R IC H M O N D , V IR G IN IA .
terms; prompt returns.
M ER C H A NTS
Oldest Pittsburg members N. Y . Stock Exchange.
First National Bank,
Ollectlons made on all parts of the United States.
COMMISSION
St a t e B a n k B u il d in g ,
1871.
B A N K E R S A N D BROKERS,
H . Ga r d e s ,
E . p . H il l ,
R .A . Girattd ,
President.
. Yice-Pres’t.
Cashier.
Commercial National Bank,
AND
R IC H M O N D , V IR G IN IA .
B AN K E R S A N D BROKERS,
PA.
Whitney & Stephenson,
No. 57 F O U R T H
P. A . W il e y , Cashier.
B AN K E R S
B A N K E R S AND B R O K E R S ,
No. 437 CHESTNUT STREET,
P H IL A D E L P H IA .
counts of bankers and merchats.
Co r r e sp o n d e n t s .—New York, National Shoe &
Leather Bank; Union Bank of London._____________
W . T. B l a c k w e l l , Pres’t.
T H O M A S B R A N C H &. CO.,
Narr 6c Gerlach,
$ 3 0 0 ,0 0 0
This bank has superior facilities for making collec
tions on all accessible points in the United States,
Canada and Europe. Liberal terms extended to ac
SOUTHERN.
ATLANTA.
Humphreys Castleman,
BRO KER A N D D E A L E R IN A L L K IN D S OF
SECURITIES.
Bonds and Stocks bought or sold on commission
Georgia and Alabama Securities specially dealt in.
Correspondents: Tobey & Kirk and A . Dutenhofer,
New Yprk.
Reference ; Atlanta National Bank, Atlanta, Ga.
and Fourth National Bank, New York.
W.
H.
Patterson,
BOND A N D STOCK BROKER,
A T LA N T A , GA.
State, City, Railroad and other Corporate Securi
ties of Southern States wanted and for sale at all
times. Mortgage,Loans on city and farm property,
two to ten years,' paying six to eight per cent, fur
nished. Prompt replies to correspondence, mail or
wire
^ a lc s .
B y N. W . BOVVE,
R e a l E state A u ctio n e e r.
Commissioners’ Sale
OF
A LL TH E PR O PER T Y, FRAN CH ISES,
RIG H TS, &C.,
OF THE
S O U T H E R N T E L E G R A P H CO.
B y virtue o f the follow ing decrees entered in
the causes of “ William Mahone, &c., vs. The
Southern Telegraph Company and others” and
“ The Farmers’ Loan and Trust Company vs.
Same” —viz.:
1. Decree entered in said causes in the United
States Circuit Court for the Eastern District of
Virginia, on the 21st day of Decem ber. 1885;
2. Decree entered in said causes in the United
8tates Circuit Court for the Western District
of North Carolina, on the 4th day of Febru
ary, 1886 ;
3. Decree entered in said causes in the United
States Circuit Court for the District of South
Carolina, on the 4tli day of February, 1886;
4. Decree entered m said causes in the United
States Circuit Court for the Middle District of
Alabama, on the 5tli day o f February, 1886
5. Decree entered in said causes in the United
States Circuit Court for the N o r ih r n District
of Georgia, on the 10th day of February, 1.886;
The undersigned. Special Commissioners
appointed thereby, will sell at public auction,
iu irout of the office of ihe auctioneer, No. 4
North Eleventh Street, in the City of Rich
mond, Va.
FE BRU ARY 1, 1887,
at 12 o’clock M.. A LL TH E RIGHT. TITLE.
AND INTEREST, OF EVERY KIND AND
NATURE, OF THE SOUTHERN TELEGRAPH
COMPANY in and to the line of telegraph to,
from, and between the city of Wa»hiugron and
the city of Selina, Ala., and the various branches
thereof (about 1.8oo miles of poles and about
5,0u0 nnles of wire), together with alltUe Lunds,
Properties, Franchises, Telegraph Lines, C ibles,
Poles, Wires, Instruments, Tools, A pp iratuses,
Offices, hixtures, Pate ts, Patent-Rights, Con
tracts, Leases, Securities, Rights, Claims, In
terest, and Demands of every kind, nature, and
description whatsoever, wherever the same may
be or however situated, now held, owned, or
possessed by the said company,
The said telegraph line is in good condition,
and is now doing a good business.
The line w ill be sold subject to a traffic ar
rangement now existing between it and the
Mutual Union Telegraph Company, which will
expire at the option of the purchaser upon sixty
days’ notice.
T e r m s o f . S a l e : Ten per cent o f purchasemoney in cash and a sufficient sum iu addition
to make such payment amount to $50,000;
the balance within thirty days af er sale.
A ny iurther information desired will be given
by A. L. B o u l w a r e , receiver, at Richmond, Va.
A . L, BOULWARE,
H. B. TURNER,
Commissioners,
N. W. B o w e , Auctioneer.
STOCKS and BONDS
A t Auction.
The Undersigned hold R E G U L A R AUCTION
SALES o f all classes of
STO CK S
AND
BONDS,
ON
W E D N E SD A Y S A N D SA T U R D A Y S .
A D R I A N H . M U L L E R & SON,
NO. 12 PINE STREET, NEW YORK.
(EQUITABLE
b u il d in g .)
THE
vÜi
g a t ik
g ru sl
S ta tje m je n ts .
2 0 YEARS
E X P E R IE N C E
r> e p o r t o f t h e c o n d i t i o n o f t h e
t v G A L L A T IN N A T IO N A L B A N K , at New
York. In the State o f NewYork. at the dose of busi
LENDING MONEY ON ILLINOIS
ness Deo. ¿8,1880;
FARMS. NO LOSSES. Seno ron LIST.
RESOURCES.
Loans and discounts........................... $5,031.889 18
O. 8. bonds to secure circulation.........
690.000 00
C. E. & C. M. ANTHONY,
Other stocks, bonds and mortgages....
423(C50 00
P e o r i a . III.
Due from other National banks..........
98,295 24 • a n k e r s .
Due from State banks and bankers....
8.584 25
Real estate, furniture and fixtures....
859.306 36
Current expenses and taxes paid------12,649 04
Checks and other cash Items...............
1.406 24
Exchanges for Clearing House........... 2,008.711 88
Bills o f other banks.............. ...............
80,900 00
FracTl paper cur’ncy, nickels & pennies
50 61
Specie.................................*...........
499.888 00
Legal tender notes................................
498 831 00
Redemption fund with U. 8 .Treasurer
__
C A P I T A L $ 6 0 0 ,0 0 0 .
(5 pet cent o f circulation)................
81,050 00
Total............................................... $9,688,916 80
D
E
B E N T U R E S
LIABILITIES.
______
Capital stock paid in........................... . $1,000,000 00
AND
92
Surplus fund........................................
Undivided profits.................................
688,007 12
National bank notes outstanding.......
611,450 00 GUARANTEED FARM MORTGAGES.
Dividends unpaid ................................
1.200 92
O F F IC E S
]
REFERENCES.
Individual deposits subject to check.. 8,719,752 80
Demand certificates o f deposit..........
7,386 86 New York, 208 Broadway. First Nat. Bk., New York.
Boston Nat. Bk„ Boston.
Aocepted drafts .................................. L <45,831 71 Boston, 28 Court St.
Due to other National banks..............
952,186 23 Philadelphia, 112 S.4th St. 7th Nat. Bk, Philadelphia
Due to State hanks and bankers.........
468,698, 58 Kansas City, 7th& Del. Sts. (Am. Nat. Bk.,Kansas City '
Total.......... ...................
$9.688.91« 80 F o r ratea o f In terest an d fu ll in form a tion
State o f New York. County o f New York, **:
send fo r pam ph let.
I, A r t h u r W . Sh e r m a n , Cashier o f the abovenamed bank, do solemnly swear that the above
Real Estate Mortgages on City
statement is true, to the best o f my knowledge and
NORTH
and Farm Property, worth two
belief.
A. W . SHERMAN, Cashier.
to four times amounts of mort
Subscribed and sworn to before me this 7th day
WESTERN gages, In terest 6 p er cent to
o f January, 1887.
H. L. BRAYNARD,
cen t, principal and inter
Correct—Attest:
NotaryPublic.
GUARANTY 7estp er
absolutely guaranteed. Se
F. D. TAPPEN,
i
curities for guaranty held by the
A. ROOSEVELT,
>Directors.
LOAN
CO.,
American
Loan A Trust Com
ADRIAN I8ELIN, JR.. 5
MINNEAPOLIS. pany, of Boston, Mass.
Send for circulars to
D E P O R T O F T H E C O N D ITIO N O F T IIE Paid-Up Capital, N E H E R A C A R P E N T E R ,
BANK. at
JtV UNITED STATES NATIONAL BANK,
• 4 0 0 ,6 0 0 .
B a n k e rs , T r o y , N. Y .
New York, in the State o f New York, at; the close of Authoris’d Capital
business, Dec. 28,1886:
Eastern Managers for Company
<
4 .0 0 0 .0 0 0 .
RESOURCES.
Loans and discounts.............................. $4,194,64« 88
1,355 85
Overdrafts........................... — ...........'
50,000 00
U. S. bonds to secure circulation,......
151,753 04
Other stooks, bonds and mortgages—
60 TOHOLDERS OF KANSAS REAL ESTATE
274,226
Due from other national banks............
88,270 6«
Due from State banks and bankers....
MORTGAGES:
4.568 29
Heal estate, furniture and fixtures....
88,308 40
Current expenses and taxes paid.......
Bend to HODGES A KNOX, TOPEKA, KANSAS,
12,584 03 tar Free Pamphlet containing the compiled Lairs
Premiums paid.....................................
Checks & other cash items. $19,305 85
o f » m u m relating to Real Estate Mortgages.
Exch’s for Clearing House 448.523 75
— — — —
Bills o f other banks..........
4,700 00
Fractional paper currency,
nickels and oents...........
77 27
Specie................................ 1,176.728 00
Legal-tender notes............ 80,047 00— 1,670,881 87
Redemption fund with U.S. Treasurer
(5 per cent o f circulation;.......
2,250
00
Total...................................... $6,442,841
27
LIABILITIES.
Capital stock paid in................... $500,000
00
OF X E W YORK.
Surplus fund...............................
500,000
00
N o. 4 9 W A L L S T R E E T .
Undivided profits.......................
93,289
47
National bank notes outstanding.......
45,000 00 C a p ita l a n d S u r p lu s , - - - $ 6 ,0 0 0 ,0 0 0
Individual deposits sub
ject to check................ $1,075,644 02
This company Is a legal depository for moneys paid
Demand ctfs. o f deposit.
80,000 00
into court, and Is authorised to act as guardian oi
Guarantee iu.c't(accapted
trustee.
checks).........................
810.298 03
INTEREST ALLOWED ON DEPOSITS, *
Cashier’s checks out-st'g .
3,252 50
which may be made at any time, and withdrawn aftei
Due to other nat’l banks 2,849,910 66
five
days’ notice, and will be entitled to interest foi
Due to State bks.& bkrs., 1,084,94659— 5.301,051 80 the whole
time they may remain with the company.
Total............................................... . $6,442,341 27
Executors, administrators, or trustees of estates
State of New Yo'k, County of New York, ss.:
and females unaccustomed to the transaction of busi
I, B. G. Sherman , Cashier of the above-named ness, as well as religious and benevolent institutions
bank, do solemnly swear that the above statement is will find this company a convenient depository foi
true, to the best o f my knowledge and belief.
money.
JOHN A. STEWART, President.
E. G. SHERMAN, Cashier.
_
WILLIAM H. MACY, Vice-President
m JAMES 8. CLARK, Second Vice-Pres”
Subscribed and sworn to before me this 6th day of
January, 1887.
D. R. Norvell ,
Notary Public, Richmond County, N. Y.
TRUSTEES:
Correct—Attest:
Certificate filed In N. Y. Co.
Dan. H. Arnold, D. Willis James,|Robt.B.Mtnturn,
D. A. LIND.LKY, t
Thos. Slooomb, JohnJ.Astor,
Geo. H. Warren,
L. C. MURRAY, ) Directors.
Charles E. BUI, John A. Stewart, George Bliss,
C. It. HICKOX,
)
Wilson G. Hunt, S.M.Buoki’gham, William Libbey,
Wm. H. Macy, H. E. Lawrence, John C. Brown,
Clinton Gilbert, Isaao N. Phelps, Edward Cooper,
Daniel D. Lord, Erastus Corning, W.Bay’rdCuttlng
Samuel Sloan, S. B. Chittenden, Chas. 8. Smith,
James Low,
JohnH.Rhoades, Wm.Rockefeller,
Wm. W. Phelps, Anson P. Stokes, Alex. E. Orr.
HENRY L. THORNELL, Secretary.
LOUIS G. HAMPTON. Assistant Secretary.
E Q U IT A B L E
Mortgage Company.
Important Notice.
QxusX ©tfmpatites.
United States Trust Co.
7%
62
T h e A m erican Investm ent Company» o f Emmetshurg, Iowa, with a paid-up capital of 9600»«
OOO, su rp lu s 8 7 5 ,0 0 0 , offers first Mortgage
Loans drawing seven per cent, both P rin cip al and
In terest fu lly G u aranteed. Also 6peroeni 10year Debenture Bond» ,secur«d by 105 per cent of first
Mortgage loans held in trust by the M ercan tile
T ru st C o., N. Y . Five per cent certificates of
deposit for periods under one year. Write for full
Information and references to the company at 1 5 0
N assau fit., N, 1 .
_____
A . li. O R N S B Y ,
Vice-President and General Manager.
Farm Mortgages
In Sums o f $100 and Upwards on In*
diana and Ohio Lands.
NOTHING SAFER. ALWAYS PROMPTLY PAID
SEND FOR PAMPHLET.
JO S. A . 9 1 0 0 R E ,
8 4 B a s t m a r k e t St.< I n d i a n a p o lis ,I n d
IN F E S T
X
T H R O U G H T H E SOUND
R E L IA B L E
AN D
WESTERN FARM MORTGAGE C0M
LAW RENCE, KAN.
T. M. P e r k in s , Prest.
L. H. P e r k in s , Sec.
r a i d Up C a p ita l,
- 0 4 5 0 ,0 0 0
The choicest First Mortgage Farm Loans, also the
Company's Ten Tear Debentures, based upon Its
paid up capital and assets of over $650,090. 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 187 Broadway,
C. C. HINE & SON, Agents.
[VOL. X U V .
CHRONICLE.
Mercantile Trust & Deposit
COMPANY, OF
B A L T IM O R E .
C a p ita l,
. . .
A u th o r ize d C ap ita i,
_ 8 5 0 0 ,D M
$ 4 ,0 0 0 .0 * 4 »
Authorized to act as Exec-tor, Administrator.
Guardian, Receiver, or Trustee, anJ is
A LEGAL DEPOSITORY FOR MONEY.
Accepts the transfer agency and registry of stocks
and acts as Trustee of mortgages or corporations.
Takes charge of property, collects and remits in
terest and Income promptly, and discharges faith
fully the duties of every trust known to the law.
Money received on deposit. All Trust Assets kept
separate from those of the Company.
Burglar-proof Safes and Boxes (having chrom*
steel doors) to rent at $10 to $100 per annum in t.bel i
new and elegant chrome steel FIRE AND BURG
LAR-PROOF VAULTS, protected by improved!
Time Looks.
WiUs kept In vaults without charge. Bonds amfi
Stocks, Plate and all Valuables securely kept undeoguarantee at moderate charges. Paintings, Statu
ary, Bronzes, etc., kept in fire-proof vaults.
JOHN GILL, W. W. SPENCE, . L. C. FISCHER
President.
Vice-Prest.
Treas. & See.
DIRECTO RS:
W. W. Spence,
Louis McLane,
Christian Devri 68 Robert Lehr,
C.Mort’n Stewart W. A. Tucker,
Robert Garrett, Jas. Carey Coale,
Chas. D. Fisher, Ollver A. Parker,
Geo. P. Thomas, W. H.Whltridge,
O, H. Williams, J. A. Hambleton,
Andrew Reid,
Thos. Deford,
C iu m p a t r im
American Loan & Trust Co,
113 B R O A D W A Y , NEW Y O R K ,
C a p ita l, F u lly P a id .......................8 1 ,0 0 0 ,0 0 0
THIS COMPANY TRANSACTS A GENERAL
LOAN, TRUST AND FINANCIAL BUSINESS.
Receives Money on Deposit subject to check, and
allows Interest on balances.
AU Checks pass through the Clearing-house.
MAKES INVESTMENTS OF MONEY.
ACTS AS EXECUTOR. ADMINISTRATOR,
GUARDIAN, TRUSTEE, ETC.
ALSO, AS REGISTRAR AND TRANSFER AGENT.
ja r An Authorized Depository for Court and
C unty Treasurers’ Fund.
ROWLAND N. HAZARD, President.
GEORGE 8. HART, Vice-President.
WILLIAM D. sNOW, Secretary.
JAMES S. TH URSTON, Treasurer.
DIRECTORS:
G eorge H. P o tts ,
W a l l a c e C. A n d r e w s ,
J oh n L. Ma c a u l a y ,
I r a Da v e n p o r t ,
J a m e s M. v a r n u m ,
W il l ia m d . Sn o w ,
J oh n I. B l a i r ,
J ohn d . K im m e y ,
E d w a r d F. Br o w n in g , F r e d e r ic A . P otts ,
R o w l a n d N. H a z a r d , J o h n R o ss ,
G eo r g e 8. h a r t ,
A l e x a n d e r G. B l a c k ,
W m . B. D in s m o r e ,
F r a n k C. H o l l in s ,
E l ia s L e w is , j r .,
T h o m a s L. W atson ,
J ule s A ld io k ,
E l ia s C. B en edict ,
St e v e n s o n B u r k e .____ W il l ia m P A n d e r so n .
Union Trust Company
OF N E W
YORK,
73 Broadway, cor. Hector St., N. Y.
C A P IT A L , - - - - - - $ 1 ,0 0 0 ,0 0 0
SUR PLU S, - - - - - - $ 2 ,0 0 0 ,0 0 0
r Authorized to act as Executor, Administrator
Guardian, Receiver, or Trustee, and is
A LEGAL DEPOSITORY FOR MONEY
Accepts the transfer agency and registry of stocks,
and acts as Trustee of mortgages of corporations.
Allows interest on deposits, which may be made at
any time, and withdrawn on five days’ notice, with
Interest for the whole time they remain with the
company.
For the convenience of depositors this company
also opens current accounts subject, in accordance
with its rules, to check at sight, and allows Interest
upon the resulting daily balances. Such checks pass
through the Clearing House.
TRUSTEES:
Wm. Whitewright,
James M. McLean,
Henry A. Kent,
Ambrose C. Kingsland,
R. T. Wilson,
James H. Ogilvie,
Wm. F. Russell,
S. T. Fairchild.
C. D. Wood,
I. H. Frothingham,
James N. Platt,
George A. Jarvis,
D. C. Hays,
C. Vanderbilt,
James Forsyth,
A. A. Low,
George Cabot Ward,
G. G. Williams,
Edward King,
R. G, Remsen,
E. B. Wesley,
J. B. Johnston,
D. H. McAlpin,
Edwa '-chell,
Geortre B Oarhart,
Amasa j . Parker,
Henry Stokes,
Samuel F. Barger,
Robert Lenox Kennedy, Geo. C. Magoun.
EXECUTIVE COMMITTEE:
Wm. Whitewright,
G. G. Williams,
James M. McLean,.
E. B. Wesley,
J.B. Johnston,
C. D. Wood,
D. C. Hays,
A. C. Kingsland.
EDWARD KING, President,
JAMES M. MCLEAN, First Vlce-Pres’t.
J AMES H. OGILV1E, Second Vioe-Pres't.
A. O. RON ALDSON. Secretary.________________
The Brooklyn Trust C o.,
Cor. of Montague and Clinton Sts.,Brooklyn, N.Y.
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
of 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, Vlce-Pres’t.
TRUSTEES:
Josiah O. Low, E. F. Knowlton, H*y K. Sheldon,
Alex. M. White, John T. Martin, C. D. Wood,
A. A. Low,
Fred. Cromwell, Wm. H. Male,
Alex. McCue,
John P. Rolfe, Ripley Ropes,
Mich’l Chauncey. E. W. Corlles.
Abram B. Baylis,
Wm. B, Kendall. H. E. Pierrepont, H. W. Maxwell,
J a m e s Ross Cu r r a n . Secretary.
_____________ F r e d e r ic k C. Colton . Asst. 8ec*y.
The Union Trust C o.,
611 AND 618 CHESTNUT STREET,
P H IL A D E L P H IA .
Authorized Capital....................................... $1.900,000
Paid-up Capital..............................
509.000
Acts as Executor, Administrator, Assignee, etc.
and executes trusts of every description known to
All trust assets kept separate from tho«e of the
Company.
__
Burglar-Proof Safes to rent at $5 to $60 per annum.
Wills kept in vaults without charge.
Bonds, Stocks and other valuables taken under
guarantee.
, .
Paintings, Statuary, Bronzes, etc., kept in FireProof Vaults.
Money received on deposit at interest.
IAS,LONO.-Prest. JOHN G. READING, V.-Pres’t.
MAHLON S. STOK ES, Treasurer & Secretary.
D. R. PATTERSON. Trust Officer.
D ir e c t o r s .—James Long, Alfred S. Gillett, Joseph
Wright, Dr. Charles P. Turner, William 8. Price,
John T. Monroe, W. J. Nead, Thomas R. Patton,John
JGReading, Wm. H. Lucas, D. Hayes Agnew, M. D.
Jos. I. Keefe, Robert Patterson, Theodor C. Engel,
John E. Hurst,.
Jacob
Nayler, Thos. G. Hood, Edward L. Perkins,
Stewart Brown,
W. H. Blackf c-rd, William Watson, P h i l a d e l p h i a ; Samuel Riddle,
Glen R iddle , Pa.; Dr. George W. Reily, HARRIS*
E. A. Jenkins.
b u r g . Pa.; J. Simpson Africa, H u n t in g d o n ; Henry
Bernard Cab n,
J.WiUcoxBr own, S. Eckert, R e a d in g ; Edmund S. Doty, MIFFLINl to w n ; W. W. H. Davis,. D o yx e sxo w k ; R. K. MonAlex. Frank,
i aghan, WEST CHESTER.
John GiU.
Ja n u a r y 15, 18 ? J
è r t is i
p X is jc je lX a t ie o n s .
© u m jr a ìiije s .
Metropolitan Trust C o.,
Millo Building, 35 Wall St., New York.
P A I D UP C A P IT A L , $ 1 ,0 0 0 .0 0 0 .
Designated as a legal Depository by order o f Su
preme Court. Receive deposits j f money on interest,
act as fiscal or transfer agent, or trustee for corpora
tions, and accept and execute any legal trusts from
persons or corporations on as favorable terms as
Other similar companies.
THOMAS HILLHOU8B. President.
■FREDERIC D. TAPPEN, Vice-President.
W Al/TKH .1 RR1TT1N. Recretarv-
ffiitmttcial ®0mpattijeg.
Crenshaw & Wisner,
7 1 W A L L S T ., N E W Y O R K ,
OFFICE OF THE
COM M ISSION
A T L A N T I C
Nos. 214 A 216 BROADWAY, NEW YORK
Cash Capital, $260,000, Invested in U. S. Gov’t Bonds.
$200,000 deposited with the N. Y. Ins. Dept, for
the protection o f Policy-holders.
Assets, January 1st, 1886, $690,500 42.
Officials of Banks, Railroads and Express Compa
nies, Managers,Secretaries, and Clerks o f Public Com
panies. Institutions and Commercial firms, can obtain
BONDS O F S U R E T Y S H IP
from this Company at moderate charges.
The bonds of this Company are accepted by the
courts o f the various States
CASU ALTY D E P A R T M E N T .
Policies Issued against accidents causing death o>
totally disabling injuries.
Full information as to details, rates, Ac., can bt
Obtained at head office, or of Company’s Agents.
W « . m . R ichards , Prest. John M. Crank , Seo’y
R ob ’t J. H ildas , Ass’t Secretary.
DIRECTORS:
G. G. Williams, David Dows,
W. G. Low,
J.8.T. Stranahan, A. 8. Barnes,
Charles Dennis,
A. B. Hull,
H. A. Hurl but,
Alex. Mitchell,
J. L. Biker,
J. D. Yermilve, S. B. Chittenden.
Geo. 8. Coe._________ Wm. M. Richards.
Bonds of Suretyship.
OTHER BUSIN EH8.
M ER CH ANTS,
Members of the Cotton, Coffee and Produce Exoh’s
AGENCY OF
THE
HAXALL
CRENSHAW
CO.,
RICHMOND, VA.
Standard Brands of Flour for Shipment to Warm
Climates always on hand.
Mutual Insurance C o.,
ORIENT GUANO MAN UF ACT’0 C 0„
ORIENT, L . I.
Standard Superphosphates.
F I D E L I T Y &. C A S U A L T Y CO.
NO
4
ut
TJËE CHRONICLE.
SULPHUR
MINES
COMPANY
NEW YORK, January 23,1886.
OF VIRGINIA.
The Trustees, in conformity to the Charter o.'
High Grade Pyrites free from Arsenic.
the Company, submit the following Statement
of its affairs on the 31st December, 1885:
ESTABLISHED I860.
Premiums on Marine Risks from
1st January, 1885, to 31st
December, 1 8 8 5 ............... $3,856,618 66
[S T A T I O N E R A N R P R I N T E R .
Premiums on Policies not marked
Supplies Banks, Bankers. Stock Brokers and Con oeft 1st January, 1 8 8 5 .......... 1,339,525 10 ratlnns with oomplete outfits of Account Books and
E u g e n e R . C o le ,
Total Marine Premiums.......$5,196,143 76
Premiums marked off from 1st
January, 1885, to 31st Decem
ber, 1885................................... $3,770,094 30
Losses paid during the same
period.........................................$1,915,020 67
Returns of Premiums and Ex
p e n s e s .............. . . . . . . . . . . . .
Stationery
M r new concerns organising will have their orders
promptly executed.
N o. 1 W IL L IA M
STREET,
(HANOVER^SGUARE.)
SECURE BANK VAULTS.
$776,712 42
The Guarantee Co.
The Company has the following Assets, viz.:
United States and State of New
OF NORTH AM ERICA.
York Stock, City, Bank and
Cash Capital.................................................... *300,00i
other Stocks..... . . . . . . . . . . . . . . . $9,034,685 ,v
Assets and Resources.................................... 830.00C
Deposit with Insuranoe Department............ 240,000 Loans secured by Stocks and
President:
Vice-President:
1,438,60
otherwise......................... .
Bib a t .k t - t . Galt .
H on. ja s . fkrrieb
Real Estate and Claims due the
Managing Director : E d w a r d Ra w l in g s .
Company, estimated at.............
530,000 00
NEW YORK OFFICE:
NO. I l l B R O A D W A Y .
Premium Notes and Bills Re*
D. J. TOMPKINS, Secretary.
celvable..... .........
1,508,143 58
Niw Y ork D ire cto rs —Joseph W. Drexei, A. L.
228,897 88
ash In Bank.............................
Hopkins, H. Victor Newoomp, John Paton, Daniel
Torrance. Edw. F. Winslow, Erastus Wlman, F. P.
▲mount...................................
$12,740,326
46
Oicott and J. E. Pnlsford.
S t is u r a t ix je .
The United States Life
Insurance Co.
IN T H E
C IT Y O F N E W Y O R K .
(ORGANIZED IN 1860.)
261, 262 Sc 263 Broadway, New York.
STEEL
W ORKS,
R R O O K LYN , N. Y .
IJOSEPH Cl LLOTTSI
STEEL PENS
Bullard & Wheeler,
Charles D. Leverioh,
Josiah O. Low,
Thomas B. Coddlngtoh,, John L. Biker,
N. Denton Smith,
William Degroot,
George Bliss,
L I F E ASSU R A N C E S O C IE T Y , Horace Gray,
Henry E. Hawley,
William E. Dodge,
120 BROADWAY, NEW YORK.
William D. Morgan,
William H. Maoy,
H E N R Y R . H Y D E , P r e s id e n t.
Isaac Bell,
O. A. Hand,
ASSETS. JANUARY 1st, 1880.......... $00,503,887 60 John Di Hewlett,
Edward Floyd-Jones,
LIABILITIES, 4 per cent Valuation .. 52,691,148 37
Anson W. Hard,
William H. Webb,
SURPLUS............................................ $18,802,289 18
Thomas Maitland.
Charles P. Burdett,
(Su rplu s on N . Y . Standard 4 *b per cent Edmund W. Corlies,
intereet, $ 1 7 ,4 9 5 .3 2 9 ,4 0 .)
Burylun over Liabilities, on everustandard of valua
JOHN D. JONES, President.
EQUITABLE
CHROME
Circulars Free.
SIX PER CENT INTEREST on the outstand
lng certificates of profits will be paid to the I GOLDMEDALPARIS EXPOSITION-1878*
holders thereof, or their legal representatives,
I T H E MOST PERFECT OF P E N S
on and after Tuesday, the 2d of February next.
THE OUTSTANDING CERTIFICATES Of
the issue of 1881 will be redeemed and paid to
C o tto ti.
the holders thereof, or their legal representa
tives, on and after Tuesday, the 2d of February
J ohn l . B ullard .
H en ry H. W heeler.
next, from which date all Interest thereon will
oease. The certificates to he produced at the
time of payment and canceled.
A DIVIDEND OF FORTY PER CENT is CCTT0N COMMISSION MERCHANTS
NEW YORK.
declared on the net earned premiums of the
also
Company, for the year ending 31st December,
B A G G IN G A N D IR O N T IE S ,
1885, for which certificates will be leaned on
(FOR BALING COTTON).
and after Tuesday, the 4th of May next.
Advances made on Cotton Consignments and Special
By order of the Board,
Attention given to purchase ana sale of FUTURE
G, H. BURFORD, President,
O. P. FRALEIGH, Sec’y. A. WHEELWRIGHT, Ass’t 860.
WM. T. St a n d e n , Actuary.
All the profits belong to the Policy-holders exclu
sively.
All Policies issued by this Company are indisput
able after three years.
J . H . C H A P M A N , Secretary*
All Death Claims paid w it h o u t disc ou n t as soon
as satisfactory proofs have been received.
This Company issues all forms o f Insurance, in
cluding Tontine and Limited (Non-Forfeiting) Ton
tine.
T R U S T E E S !]
One month’s grace allowed In the payment o f
Premiums on Tontine Policies, and ten days’ grace
J.
D.
Jones,
Adolph Lemoyne,
cm all others, the Insurance remaining In full force
Robert B. Mlntum,
Charles Dennis,
during the grace.
Charles H. Marshall,
Absolute security, combined with the largest liber W. H. H. Moore,
ality, assures the popularity and success of this oom James Low,
Frederick H. Cossitt,
pany.
William Bryce,
A. A. Raven,
GOOD AGENTS, desiring to represent the Com Wm, Sturgis,
John Elliott,
pany* are invited to address J. 8. GAFFNEY, Super Benjamin H. Field,
James G. De Forest,
intendent of Agencies, at Home office.
tion larger than that of any other Life Assurance Com
pany.
* W ASSURANCE in 1885................... $96,011,378 00
Ou t s t a n d in g a s s u r a n c e ..............357,388,246 00
Total paid Policy-Holders in 1885 ....... 7,138,089 60
Paid Policy-Holders since Organization 88,211,175 30
Income in 1866. .................................. 10,690,05831
WELDED CHROME STEEL AND IRON
In Bound and Flat Bars, and 5 ply Plates and Angles
FOR SAFES, VAULTS, Ac.
Cannot be Sawed, Cnt or Drilled, and practically
Burglar-Proof.
(CHARLES DENNIS, Vlce-PreSldefit.
(W. H. H
▲.(A, KAV
CONTRACTS OF COTTON.
Dennis Perkins & C o.,
COTTON BROKERS,
1 2 5 P e a r l Street, N e w Y o r k .
Orders for Spot Cotton and Futures promptly
executed.
W alter & Fatman,
COTTON
BROKERS,
58 B E A V E R S T R E E T , N E W Y O R K *
CHARLES
COTTON
B.
TAINTER,
M ERCHANT,
COTTON E X C H A N G E B U IL D IN G .
SPECIAL ATTENTION TO COTTON FUTURES
F. Hoffmann,
COTTON BROKER A N D A G EN T,
38 R U E
D E LA BOURSE, H A V R E *
Geo. Copeland 6c C o.,
COTTON BROKERS,
2d Vloe-Frest,
Vice-President
1 3 4 P E A R L S T R E E T , [N E W Y O R K .
THE CHRONICLE,
X
Cotto H*
(io tto îx .
m is c e lla n e o u s.
Walter T. Hatch,
Noth’l W. T. Hatch.
Woodward & Stillman,
Post Building, 16 & 18 Exchange Place,
for
IN M A N , SW A N N & Co
YORK.
LOANS MADE ON ACCEPTABLE SECURITIES.
Special A tt e n t io n
MERCHANTS,
Co n tr a c ts
Co tton .
of
BANKERS,
14 NASSAU STREET, NEW YORK.
B r a n c h Offices i 1 3 2 0*iurcli S treet, N. Y .,
COTTON
to o r d e r s f o r
F u t u r e D e l iv e r y
H enry P. Hatch.
A rthur M. Hatch.
W . T . Hatch & Sons*
MERCHANTS*
NEW
f J anu ary 15,188?.
Mew
COTTON, ALL GRADES, 8U1TABLE TO WANTS
Y ork .
( s(18 C hapel f?t., N ew H aven
Personal attention given at the EXCHANGE8 to
the purchase and sale o f STOCKS and BONDS for
cash or on margin.
DEPOSITS R EC EIVED —subject to check at sight
—with interest upon balances.
Special attention paid to INVESTMENTS and
accounts o f COUNTRY B AN K E R S.
OF SPINNERS
O f fe r e d
T erms
on
Edward H. Coates & C o.,
Su it .
to
Robert Tannatali & C o.,
Cotton Commission Merchants,
C o tto n E x c h a n g e B u ild in g , N e w Y o r k .
Special attention Riven to the purchase and sale of
FUTURE CONTRACTS
in New York and Liverpool.
J. C. Graham & C o.,
10 S o u th W i l l i a m
St. & 51 S ton e S t .,
NEW YORK.
Williams, Black & C o.,
1
W IL L IA M
NEW
S elm a , M o n tg o m e r y a n d N e w
Y ork.
STREET,
YORK.
S P IN N E R S ’
C O T T O N , « IS AIM ,
P R O V IS IO N S , C O F F E E ,
STOCKS, P E TR O L E U M ,
ORDERS EXECUTED
IN
NEW YORK, CHICAGO, NEW OR
LEANS, ST. LOUIS, LIVERPOOL,
HAVRE, &c.
New Orléans, La.
BUYERS FOR AMERICAN M U XS.
No. 116 CHESTNUT STREET,
P H IL A D E L P H IA .
No. 49 MAIN STREET,
N ORFOLK , VA.
BANKERS AND COMMISSION MERCHANTS,
Le h m a n , Stern & Co.,
COTTON.
Cotton Commission Merchants,
Lehman, Durr & Co
Montgomery, Ala.
F actors
S O L IC IT E D .
B. F. B A B C O C K & C O .
COMMISSION MERCHANTS,
17
W a te r
S treet,
L IV E R P O O L ,
Receive consignments of Cotton and other Produce,
and execute orders at the Exchanges in Liverpool.
Represented in New York at the office of
SAM’L D. BABCOCK,
82 Nassau Street, New York.
Bethlehem Iron Com p’y
L E H M A N B R O ’S,
C otton
O R D E R S
40 and 42 W all Street,
M a n h a t ta n B n il d in g ,
N ew Y o r k .
AN D .
R . Macready & C o.,
COMMISSION MERCHANTS,
C O M M ISSIO N
1*1E R C M A N T S ,
No. 40 E X C H A N G E PLACE,
MEMBERS OF THE OOTTON, OOFFEE AND
PRODVOE EXCHANGES.
U p -to w n Office , No. 204 Ch u r c h St r e e t ,
COTTON
EXCHANGE
NEW YORK.
Ootton, Coffee, Grain and Petroleum Bought and
Bold for Cash, or carried on Margin, on the various
Exchanges in New York City.
Henry Hentz & C o.,
COMMISSION
N ew
B U IL D IN G ,
MERCHANTS,
c
Y ork .
Manufacturers and Dealers in
Orders executed at the Cotton Exchanges In New
York and Liverpool, and advances made on Cotton
and other produce consigned to us, or to our corresondents in Liverpool : Messrs. L. Rosenheim A
ons and A . Stern & Co.; in London, Messrs. B.
Newgass A Oo.
Mohr, Hanemann& Co.,
COTTON
8 S o u th W i l l i a m S t., N e w Y o r k .
EXECUTE ORDERS FOR FUTURE DELIVERY
Brinckerhoft, Turner
& C o.,
E X O 'A Y G E
B U IL D IN G ,
Nrn York,
C O T T O N SA ILD U C K
And all kinds of
COTTON CANVAS, FELTING DUCK, CAB
COVERING, BAGGING, RAVENS DUCK, SAIL
TWINES, AC., “ ONTARIO” SEAMLESS
BAGS, “ AWNING STRIPES,
Also, Agents
U N IT E D S T A T E S B U N T IN G UO.
A lull supply, all Widths and Colors, always in stock
N o . 1 0 9 D u a n e S treet.
C O T T O N
at the NEW YORK, LIVERPOOL AND NEW OR
LEANS COTTON EXCHANGES. Also orders for
C O F F £ E
Spec ial attention Giv e n to th e E xecution
OF ORDERS FOR FUTURE CONTRACTS.
at the NEW YORK COFFEE EXCHANGE, and
G R A IN
AMD P R O V IS IO N S
at the NEW YORK PRODUCE EXCHANGE and
the CHICAGO BOARD OF TRADE.
Co r r e sp o n d e n t s :
Messrs. Smith, Edwards & Co., Cotton Brokers
Liverpool.
Jus. Lea McLean. New Orleans.
G.
Schroeder &
Co.,
Successors to W a RB & SCHROEDER,
COMMISSION
MERCHANTS,
Cotton Exchange Bnilding,
NEW
YORK.
Ori rs for future delivery o f Cotton executed In
New York and Liverpool i also for Grain and Pro
visions in New York and Chicago.
Rountree & C o.,
COMMISSION MERCHANTS,
OOTTON EXCHAN GE, N E W Y O R K , and
N O R F O LK . VA.
C OTTO N , G R A IN . P R O V IS IO N S ,
S to ck s and P etroleu m .
Orders executed in New York, Chicago and Liv
Spool. Ail grades o f cotton suitable to spinners’
ants offered on favorable terms.
Geo. H.McFaddenßc Bro.
COTTON
[MERCHANTS,
P H IL A D E L P H IA .
L iv e r p o o l Co r r e s p o n d e n t s ,
F R E D E H 1C
ZER E 6A
& CO.
Hubbard, Price & Co.,
Cotton E x ch a n g e , K c w Y o r k .
AN P
,
...
Price, Reid & Co.,
NORFOLK, VA.
Cotton Brokers & Commission Merchants,
Liberal advances made on Cotton consignments.
Special attention given to the sale of cotton to ar
rive or in transit for both foreign and domestic mar
kets. Orders for Future Contracts executed in New
York and L iv e rp o o l.________________
Gwathmey & Bloss,
CO M M ISSIO N
Orders for future delivery o f Cotton executed in
New York and Liverpool; also for Grain and Pro
C L IS B Y
&
COTTON BUYERS,
M ONTGOM ERY,
P u r c h a se
o n l y on
BROOKLYN,
Statement o f Company 1st D ay o f Jan., 1886.
CASH C A P I T A L ......................................... $1,000,000
Reserve for unearned premiums............ 2.845,048
Reserve for unpaid losses..........................
844,473
Net surplus......................................................
714,107
08
84
03
42
$4,010,488 30
S T E P H E N C R O W E L L , P r e sid e n t.
WM. R. CROWELL, Vice-President.
PHILANDER SHAW, Secretary.
GEO. H. F1SKE, Assistant Secretary.
FRANCIS P. BURKE. Sec’y Local Dep’k
¿ETNA
/
Insurance C o m p a n y
OF
HARTFORD.
Capital................- .......................
Liabilities for unpaid losses
andre-insurancefund.......
Net S u r p lu s.......................... .
$4,000,000 00
2,118,618 19
3,450,221 3 1
A ssets J a n . 1 , 1 8 8 7 . . . . $ 9 ,5 6 8 ,8 3 9 5 6
Visions lz New York and Chicago.
II.
OF
Office, 195 Broadway, New York City
MERCHANTS,
No. 123 PE A R L ST., NEW YORK.
JOH N
Phenix Insurance Co.
CO.,
„
ALA.
Orders For
a
Comm ission
FELLO WES, JOHNSON & TILESTON,
Mo. 68 W a ll Street, M ew Y o r k .
J A S . A . A L E X A N D E R , A gen t.
Commercial U n io n
A s s u r a n c e Co.yl i m i t e d ,
C O T T O N , S T O C K S , B O N D S , & c .,
85 W IL L IA M STREET, N E W Y O R K .
Orders In “ Futures” executed at N Y Cotton Exch.
O F LONDON,:
Office,
P ine A William .Streets, New T o f t
@FedFRASER