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Quotation -Supplement (Mont%)
investors Supplem ent (quarterly)
-Street Railway «Supplement
State and City Supplement
[Entered according to Aot of Congress, in the year 1898, by the W illiam b . Dana Company, in the office of the Librarian of Congress.)
SATURDAY, JANUARY 15, 1898.
VOL. 66.
3£he Cfrcotticle.
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N *E W Y O R K .
C L E A R IN G H O U S E R E T U R N S .
The following table, made up by telegraph, etc., indicates
that the total bank clearings of all the clearing houses
of the United States for the week ending to-day, January
15, have been $1,392,379,799, against $1,681,622,219 last week
and $1,033,215,476 the corresponding week of last year.
CLEARINGS.
Returns by lelegraph.
Week Ending January 15.
1898.
Week ending January 8.
1898.
18Ò8.
1897.
1896
P. Venl
*
t
$
1.042,897.39 ) 710,2 3.42 ! +40
New Y o rx .......
013.214 08»
«2,013,87 l
71,10u,48
Philadelphia... .
+80
60 070,203
.
20,514.70
17*348,19
+18
14,922,426
Pitta burg.........
20,491,43 4 18,593.8 ! 1 +42
Baltimore......... .
14.820 >69
5.140.40
4,408.9 11 +16
Buffalo.............
5,201,164
2,308 25
2,156.40!
+»•
Washington.... .
2,617,909
2,423,70
+31
i
1.83843'
Rochester.........
1,78k 3 9
1,548,04
1,324.4»;
+18*
1.201,568
Syracuse...........
l,4s-9,96
819..03+70-.
7/3.71?
Scranton........
812,54
724
6i+20‘
734.455
Wilmington......
401,20
—7
434,lut
417,910
Binghamton.
.1,190,791,26
829,132,25C +44'i 724,711,02»
+28
104.887.54'
89,019.125
Boston............... . . 133,030.30
6,640.00
+181 :
5,5k4,0Ui
6,492,800
Providence.......... ,
4,787,24
4,437.10j
+7*1 1
3,040 023
Hartford........ ..
+22.158,34 1
2,.02,76;
2,000 201
New Haven..........
3,040
30
+221
1,000.72'
1
Springfield. ........
1,779.39
+251
1,410,89i1.385 529
Worcester. ..........
2,050,48
+20
1,023.52«
1,438,430
Portland...............
800,55 '
—13 c
1.001,34«
»51, 2»
Fall River............
801,83
039,91«
+34
717.629
L ow ell..................
—3a
497,20]
80c>,l0e
578,628
New Bedford.......
150,730,20t 124,174,831 +26\ 103,080,820
Total New Hng..
Clearings at—
PUBLISHED W EE K L Y .
P ost O f f ic e b o x 958.
NO. 1699
1897.
Per Oent.
Philadelphia............... . . . . . . .
Baltim ore...............................
Chicago _________ _________
St. Louis ..............................
New Orleans_____ _________
$728,743.986
96,679,981
62,832,889
16,707,443
91,118,768
27,279,520
10,705,290
$478,368,061
75,761,656
51,431,326
12,687,179
63,462,914
24,359,086
11,142,580
+52-3
+ 27-6
+22-2
+31*7
+43-6
+12*0
-3 9
Seven cities, 5 d ay s..... ..
Other cities, 5 days........ .
$1,034,067,877
154,297,681
$712,212,812
137,094,267
+44-2
+12-5
Total all olties, 5 d ays....
All olties, 1 day........
$1,188,865,558
204,014,241
$854,307,079
177,907,597
+39T
+14-7
Total all olties for w eek..
$1,392,379,799
$1,032,215,476
+84*9
Chicago.................
Cincinnati............
Detroit.................
122,120,991
14,983 95
82,530,064
13,234,00
+48-C
+13
7 393,311
7,8 94 48
0,490, ¿2c
4,900.401
3,388.501
2 270 841
1.806,99:
1,175,522
799 98i
58-3 98385,001
27 ¿,714
240,200
291.572
160 100
210,058
231.371
269 174
175.027 82
127,784,69a
San Francisco......
Salt Lake City.....
Portland.............
Los Angeles........
Tacoma...............
Seattle...... ..........
Spokane........... .
Fargo...................
Sioux Falls.........
Total Paoifle...
17,295 831
1,911 14
2,249 045
1.649,401
1,004.28«
1,129,4 2
859.014
302,833
125 810
20,587,834
13,999.172
1,890,580
1,521,605
1.349,307
528,040
0OO 192
644.070
105,072
75 000
20,774,440
Kansas City.........
Minneapolis.........
Omaha..................
St. Paul................
Denver.................
Davenport............
St. Joseph ..........
Des Moines...........
Sioux City............
Lincoln................
Wichita................
Topeka..................
Fremont...............
Hastings...............
Tot. other West
11,057 272
9.942.544
5,937 729
4.286,727
3.331 02/
984,660
1.792,17b
1,350,000
834.895
475.081
403,855
423 230
109.990
+5 9
11,000 991
+iö'i3
0,845 042
1-37 0
4 332.825
+
3i 5
3,250.680
+27-6
2,003.503
+23*9
794,00..
+S31*8
1.477.8 0
+lu-0
1,227,057
80S.W71 +120-6
+12 3
433.193
Cleveland............
Milwaukee...........
Columbus.............
Indianapolis........
Peoria...................
Toledo..................
Grand Rapids......
Dayton..........
Lexington............
Saginaw..............
Kalamazoo...........
Akron...................
Bay City......... .
Rockford..............
Springfield, Ohio..
Canton.................
Youngstown*........ i
Tot. Mid. West’r
80,o70
41,636,525
6.4'2 87]
6,969.900
5.3rf7.«’45
3,354,80
2,021 31;
1,7'9,401
1.677 401
8s2 n3l
674,1<7
498,881
350.000
20 O.2 OC
298,0 iC
24v*,o65
156,524:
2n8,l94
207,901
201,8.0
481 792
57,520
108 395
33,244,720
+15 i
+ I6 ‘i
+20 ‘
+ 48 «
+ü9i
+32 0
+9 5
+33 2
+18 5
+108
+ 10 -C
—09
—17 4
+d't
+0-3
—21 7
+0 5
»5,839 882
13 523,000
6.973.95Ö
0 000.514
5,004.370
3.061,70 :
2.497.226
1,94 i 55
1,0 1 0 020
920,374
834905
379.43
375 000
39" 048
81216
241,791
1895.
105 838,898
03,295.317
14,091,160
5 775.389
6,709,910
4.541,870
8 932,200
1.184,788
8,187,571
975,40»
227,516
181,815
339,811
832,949
893,524
851,239
322,385
220,291
227.639
189.663
+37 4
141,802 196
132.857,797
+23*5
13.455.840
1,526,250
1 435.753
1,375,59«
12,029 808
1 3oO 475
1,249,494
1,252 607
blà,937
4:1,077
357.103
182 162
79.143
17,487.79»
+ 11
+47 8
+'<¿53 Z
+101 3
+ 88 2
+33-4
+82 0
+07 +
+28 0
+8o7
-12-0
+ 90 5
—11 1
2 1 1.2 8 1
508,045
500.0(4)
189,lo0
249.180
»3 454
19,690,277
12,000.000
7,911,906
4,005,749
4,311.892
H,10i,873
2 700,630
1,664 000
1,272,«07
63 ,177
402, 84
395.536
550,088
88 705
79 000
39,814,21»
9,900.022
6.201,784
4,380 464
3,451,075
3,046,637
1,487,079
1,134,787
672,266
654 603
613,362
497.203
76,682
69 694
81,145,648
+12*8
35,732,490
31.679,402
27,910.934
The full details of clearings for the week covered by the St. Louis...............
25,898,025
+22 0
12,642 910
10,278.313
11 089,233
11,038 520
New Orleans.......
+14-5
S,207.900
7.220,052
above statement will be given next Saturday. We cannot, Lonisville.............
6.604 560
0,458.072
4.194,700
+40 7
2,982,100
3,081,940
2,7 8 742
+31
"3
3,903,639
of oourse, furnish them to-day, bank clearings being made Galveston.............
3,017,587
3,095,000
2 »31 92o
Houston..............
3,011,1 f 9
+10 3
2.589,401
2,173,923
2 617,111
.
up by the various olearing houses at noon on Saturday, and Savannah..........
3.065 197
2,000 OK +41-0
2 967.509
2,573,021
R ichm ond..........
+37-0
8.983.833
2,908.859
2,071,479
2,098 910
Memphis...... ........
hence in the above the last twenty-four hours of the week Atlanta.................
2,197,011
+0 5
2,187,085
1,411,485
1,908,442
Dallas.t..........
have to be in all cases estimated, as we go to press Friday night. Nashville..1,550,0 '0
+40
1,490,025
1,033,56»
1,313,307
........
1,137,745
+0 2
975,175
1,071,137
1,173,043
We present below our usual detailed figures for the pre Norfolk.................
Waco+..................
902,123
721,569
+ 26 0
1,072,421
772.701
vious week, oovering the returns for the period ending with Fort
W orm .......
793,401
-6 4
840,6 9,
«00,511
029,4P&
Saturday noon, January 8, and the results for the corres Augusta....... .
606,298
+37 8
378,963
410 834
479,80-1
.
654,202
+'42 i
530,304
4-8 029
ponding week in 1897, 1896 and 1895 are also given. The Birmingham.......
Knoxville............
432.835
+10 0
481,283
301.62
358,008
totals at New York and outside of New York are the heavi Little Rock.........
305 000
+2 1
521,793
298 869
319 »iO
Jacksonville....... .
350,000
3 id 815
210,00»
293.858
est ever recorded. Contrasted with the preceding week, Chattanooga.......
66216,907
84,249,498
+178
71.553.012
64.478.540
there is an inorease in the aggregate exchanges of about Total Southern
four-hundred and sixty-seven million dollars, and at New Total all........... 1,081,622,219 1,208.064.561 +39'4 1095,610.081 988.8S4.027
York alone the gain is three-hundred and three millions. Outside N. York 038,724,825 49^371,138 +287 482,395.992 455,816,53©
In comparison with the week of 1897 the total for the whole
11,560,817
12 782,187
+20 0
9,938,583
12.519,0^8
ontreal...........
oountry shows an increase of 39'4 percent. Compared with M
6.811,183
8,42 .837
12 498,832
10,474,446
+19-3
Toronto. ............
1828,224
1.010 04«
the week of 1896 the current returns record a gain of 53 5 Halifax................
1,500,00"
—3 4
1.652,377
1,110 573
1.540.300
1.515.409
+10*2
1 701 077
innipeg....... . .
per cent, and the excess over 1895 is 70*1 per oent. Outside W
694.882
774,373
+28-7
847.025
1,090 105
H am ilton...,.....
589.272
—26 7
573,527
of New York the excess over 1897 is 28*7 per oent. The St.John.......... .
21,511,659
29.942.599
+202
26,134,752
24,945.112
increase over 1896 reaches 32’4 per oent, and making com Total Canada.
parison with 1895 the gain is seen to be 40*1 per oent,
t Publication discontinued for the present.
C * Not eluded In tot
THE
104
CHRONICLE.
[Vol. LXVI.
by month, and December 1 were reported only
723,885 tons, against 1,000,612 tons July 1. They are
We publish to-day our annual compilation of the now reported 736,366 tons, but the increase is so small,
gross earnings of our railroads for the year 1897. it will be seen, it hardly counts for much. The “ Age”
A fter studying the results reached it is easy to under expects the make of iron the current month will
stand why public confidence in these properties has exceed 1,000,000 tons, which would be at the rate of
revived and is increasing. It was not until July 12,000,000 tons a year, While the largest amount pre
1897 that there was any real evidence of this viously produced in any period of twelve months has
latest recovery, and yet since then its progress been 10£ million tons. Yet our contemporary seems
has been so rapid that although our review in to think that with the approach of spring the country
July for the first six months of that year showed may be forced to face “ a scarcity of pig iron in spite of
on the roads reporting a decrease of $1,266,174, a phenomenal output.” That were to be deplored, for
now for the twelve months the returns made to us the effect would be to raise prices again to unwar
covering 159,000 miles of road have secured an in ranted figures and invite a quick collapse, with the re
crease of $58,904,000.
Moreover, the estimate we sulting injury and disturbance which always follow
always make in these annual reviews for the entire sys such an event. We do not pretend to know anything
tem of roads in the United States (about 183,000 miles) as to the probability of a scarcity, but we venture the
indicates in the same period an increase in gross earn suggestion that if it is realized it must be of short du
ings for the whole country of from 70 to 75 million ration under the prevalence of a high range of prices.
dollars.
This summary briefly discloses what six For we observe from the-“ Age's” records that only a
months of relief from a currency scare, a good market little over two years ago, that is on December 1 1895,
for good crops, and reviving general business have 242 furnaces found it profitable to make iron, while
now the “ Age” reports only 188 furnaces in operation.
done for one industry.
We notice that Mr. Fairchild at a hearing before
The iron trade furnishes a further index to the in
creased activity which pervades all our industries. In the Banking and Currency Committee on Thursday,
the matter of pig iron production new records are in answer to a question by Mr. Cox, of Tennessee,
being made every month. It is an old story to say stated that under the bill of the Monetary Commission
that we are producing more iron than ever before in if a bank elects to redeem its notes in silver it can do
our history, and more, too, than any other country has so, although the note holder requires and demands
ever produced. But it becomes necessary to repeat gold. Assuming that the press report of Mr. Fairthe statement as each month a further addition is child's answer is correct, we doubt the wisdom
made to a previously unexcelled rate of output. The of that feature of the proposed measure. Domes
“ Iron Age” has this week published its usual tic currency is not the world's money, but a
We give the bank the
monthly report indicating the number and capacity mere substitute for it.
privilege
of
issuing
that
substitute
because it is in
of the furnaces in blast, and it shows that
there was a further slight increase in the output dur closest touch with commerce and on the supposition
ing the late month, raising the weekly capacity from that nothing but commerce will affect its free and ab
226,024 tons to 226,608 tons. What makes the in solute interchangeability into the money of commerce.
crease, small though it be, especially significant is G-ive the bank a statutory license to redeem its
cents worth
that it has occurred in face of a decrease in the num promise at its option with 45
ber of furnaces in blast, there being only 188 active (commercial value) of silver, and at once a dis
furnaces reported January 1, against 191 December 1. organizing force is introduced, causing, as some
During „the month it appears several furnaces went out would claim, a worse because a less facile state of
o f blast‘for repairs, but the new furnaces that started things than now exists. In such a case the burden,
up, though being smaller in number, had a larger whenever it becomes a burden, of getting gold to re
aggregate capacity. It is also noteworthy that the deem the bank’s promise is put on the merchant hold
“ Age” says that in isolated instances operations have er of that promise. To do that he must draw silver,
carry it to the Treasury, wait to get it counted, and
been stopped on account of low prices.
risk
in any serious crisis a treasury default. • But even
This latter discloses a feature which distinguishes
this
friction
reveals by no means the most serious de
the present period of unexcelled production from
fect.
The
strain
to pay the note and sustain its convert
previous similar periods, and is really a very healthful
ibility
should
rest
wholly on the bank or the curj
and encouraging indication of the state of the trade.
In the past, when records have been broken, it has rency cannot be free from seriously disturbing influ
been by reason of the stimulus afforded by a great rise ences. If that is not the legal arrangement the tend
in pripes— usually a short and quick rise to ab ency of the notes will be to drive out gold, keep the
normal figures.
In the present instance there accumulations of that metal in this country at a
has been nothing of the kind. Prices of iron minimum, make business susceptible to wide disturb
and steel and their products are very low. ance from slight causes, while otherwise impairing free
Values show some recovery from the extreme de automatic curative action which attends and is the
pression reached last spring, but prices are not as reason for enforcing perfect redemption by the
high as they were a few months ago, and they are in issuer.
Extracts from the Lehigh Valley annual statement
nearly every instance lower than at this time last year.
have
been published this week, but the full pamphlet
Thus the large output cannot be ascribed to any ex
report
is not ready yet, and we shall therefore defer
traordinary price inducements. The expansion seems
our
analysis
and review of the results until next week.
to have come wholly in response to increased con
The
Lehigh
Valley is one of the larger anthracite
sumptive requirements. And this view is confirmed
properties
(though
in recent years it has also b e
by the steady diminution in stocks of iron not
come
an
important
trunk line between Lake
withstanding the growth in production. Until the
Erie
and
the
seaboard)
and hence it is important
last month these stocks steadily declined month
THE F IN A N C IA L SITUATION.
Ja n u a r y
15, 18i)8.j
THE CHRONICLE.
to note that the anthracite coal-producing and carry
ing companies have this week advanced prices of coal,
10 to 20 cents a ton to the basis of $3 95 for stove
coal free on hoard at tide water. If this advance
shall be maintained, it will mean important benefits to
all the companies. It may seem strang3 that prices
should be raised at this time when the mild weather
has so materially curtailed the demand for coal. But
according to the reports in the newspapers the com
panies have of late been rigidly restricting the output,
so that stocks are light.
The Long Island Railroad Company has favored us
with another monthly statement of gross and net earn
ings. Like the returns for the previous months, it
makes a very encouraging showing. The report is for
November, and shows gross earnings for the “ system”
of $316,072 in 1897 against $283,253 in 1896, and net
of $70,159 against $62,564. For the five months since
the beginning of the fiscal year on July 1 gross earn
ings are reported at $2,446,179 against $2,283,794,
and net earnings at $983,351 against $932,552.
After allowing for taxes a»d fixed charges, a surplus
remains of $498,392 for the five months of 1897,
against a similar surplus in the corresponding period
of 1896 of only $422,241. The comparison is really
better than these figures indicate, for in the expenses
for 1897 the management have included $55,000
credited to a reserve fund for new rails, gas fixtures
in cars, new freight cars, &c.
The New Y ork associated banks now have within
$829,400 of the largest amount of loans ever recorded
in their history, while the deposit line is at the high
est point, standing last week at $685,592,500, against
$675,169,900 the maximum previously reported. For
more than a month, or since the Union Pacific nego
tiation began, the banks have obtained good rates
for all the money and the credits they were
enabled to employ, not only
in
our own
money market but in Europe. The statement of last
week indicates that though the surplus reserve has
increased to $22,264,575 from $11,523,450 December
25, which was the minimum last year, a material in
crease in the demand for money, resulting from im
proved business conditions, might possibly cause a
curtailment of their loans. But nothing of that kind
seems probable now.
Returns from the principal
financial centres throughout the country show that
the outside banks are well supplied with money. At
the West nearly all the institutions report an abun
dance, while the surplus balances being held here for
account of Boston banks are abnormally large. At
the same time the return movement of currency from
the interior is heavy this week, particularly
from
Boston,
while
the
outward
movement
has been comparatively small. The indications there
fore point to a substantial increase in the cash reserves.
Consequently, with the existing and immediately pros
pective somewhat plethoric condition of some of the
larger banks, it is not surprising that they should be
reaching out for new fields for the employment of their
money. The domestic field is apparently fully occu
pied, but the foreign field is still open. It is estimated
by bank officials who are in a position to ascertain the
facts that from $50,000,000 to $75,000,000 are being
employed by the large banks at this centre, at Boston,
and at other important cities, in loans upon sterling
or Continental collateral in various forms. This may
be regarded by some as an extravagant estimate, but
it is a fact that during the current week one bank has
105
been asked to make loans of this character to the ex
tent of $1,000,000.
Money on call, representing bankers’ balances, has
loaned at 3 and at 2£ per cent this week, averaging
2f, though the bulk of the business has been at 3 per
cent. The offerings are increasing and the tendency
is towards lower rates. Banks and trust companies
quote 3 per cent as the minimum. Time loans on
good mixed Stock Exchange collateral are 3 per cent
for sixty to ninety days and 3£ per cent for four to
seven months. The offerings of mercantile paper are
increasing but at the same time the demand is good
and much of this inquiry comes from out of town,
principally from the East. A fair business is done on
the basis of 3£ per cent for sixty to ninety day en
dorsed bills receivable, 3£@4 per cent for prime and
4@ 5 per cent for good four to six months single
names.
There has been no new feature of importance in the
European political situation this week. The Bank of
England minimum rate of discount remains unchanged
at 3 per cent. The Union Discount Co. of London
advised us Friday by cable that it had reduced its rates
of interest for call money to
per cent and for three
to seven days’ notice to I f per cent. The cable also
reports discounts of sixty to ninety day bank bills in
London
per cent. The open market rate at Paris
is 2 per cent, at Berlin it is 3§ per cent and at Frank
fort 3£ per cent. According to our cable from our
London correspondent the Bank of England gained
£165,216 bullion during the week and held £31,387,268
at the close of the week. Our correspondent further
advises us that the gain was due to £752,000 net
received from the interior of Great Britain, to imports
of £30,000 (of which £24,000 were from the Cape and
£6,000 from France) and to exports of £617,000, of
which £600,000 were to the Argentine Republic and
£17,000 to Peru.
The foreign exchange market was dull and
steady until Tuesday afternoon when thq tone grew
easier. The market was weak on Wednesday and
steady again on Thursday and easy on Friday.
The only particular feature reported by bankers was a
scarcity of commercial bills, these being held at
rates very close to those ruling for bankers’ long
sterling, and the presumption is that they are
being absorbed almost as fast as they are offered
through the operation referred to above. The busi
ness in exchange other than that connected with
loans upon sterling seems to be the usual day-to-day
counter transactions. It was reported that the ease
on Wednesday was due to offerings of bills against
purchases of stocks and bonds for European acoount,
while the firmer tone on the following day was repre
sented to be caused by a little better demand.
The range for nominal rates on Monday was un
changed compared with that on Friday of last week,
at 4 83£@4 84 for 60 day and 4 86 for sight, and there
was no alteration in these rates until Wednesday,
when Brown Bros. & Co. reduced their posted rates
half a cent, making the range 4 83@4 84 for 60 day
and 4 85^ @ 4 86 for sight.
On Thursday Lazard
Freres reduced the sight rate half a cent, while the
Merchants’ Bank of Canada lowered the long rate
half a cent, making the range 4 83@4 83| for 60 day
and 4 85^@4 86 for sight. The market was dull and
stealy on Monday, and the only change in rates for
actual business was an advance of one quarter of a
cent in short sterling, compared with the close of Fri-
10 5
THE CHRONICLE.
day - of last week, to 4 85|@4 85£. On Tuesday the
tone was easier while the business was quiet and rates
fo r actual business in sight sterling were reduced one
«quarter of a cent to 4 85@4 85|, no change being
.made either in long sterling or in cable transfers.
•On Wednesday the market was easier and rates
for actual business in long sterling were re
duced one quarter of a cent to 4 82£@4 82f,
while those for cable transfers were also lowered onequarter of a cent, to 4 85£@4 85£, but no change was
made in the rates for sight sterling. The tone was
.slightly firmer on Thursday, but without quotable
-change in rates for actual business. While quotations
for prime and documentary commercial bills closely
iollow those for 60-day bankers’ drafts, there is a dis
tinction made between commercial bills drawn against
¡grain and cotton. Grain payment bills are paid on
.the delivery of the grain, and it is the custom when
«discounts in London are comparatively high to take
payment of these bills under a rebate of 1 per cent
below the Bank rate. Cotton bills are not paid, how
ever, until the maturity of the drafts. The following
shows daily posted rates for exchange by some of jthe
leading drawers.
[Von. LXVI,
EN G LAN D A N D THE F A R EAST.
Since the move of the German fleet on the Chinese
port of Kiao-Chou curiosity has centred on the ques
tion as to the attitude of the other Powers. That
Germany meant to seize and retain this Asiatic port
was pretty clearly understood in advance, and the
event has proved the supposition to be correct. Sub
sequent incidents have also suggested that Russia> for
its own share, was about to demand concessions re
garding Corean administration which should further
Russian plans for a railway outlet on the Pacific coast.
France has made a simultaneous move to enlarge its
ownership in the Chinese islands. Each of these dem
onstrations has been accepted as a prelude to some
thing more. Naturally, therefore, as the several inci
dents in the general plan unfolded, the question, what
would Great Britain’s attitude be, rose to peculiar in
terest.
There could be no doubt that British interests might
be in a considerable degree affected by these moves of
the Continental Powers. In addition to its important
actual possessions in the Far East, England has of late
years materially enlarged what diplomatists call its
“ sphere of influence.” Hong Kong and Shanghai
DAILY POSTED BATES FOB FOBEION EXCHANGE.
are
to all intents and purposes British p orts; the
F r i.
Mon .. T ubs . WSL . T hTTR
FBI.,
Jan. 7. Jan. 10. Jan. 11. Jan. 12 Jan.13. Jan 14. influence of England, even at Pekin, has been very
S8V-3 83
83
83«
83«
S3«
60 days.
«Brown Bros....... 5
great, and since the pledge of the revenues of the
85«
85«
86
86-5«
86
86
1 Sight...
83«
83«
88«
83«
Baring,
$60 days.
83«
83«
treaty ports as security for a Chinese loan floated in
86
86
86
86
86
86
Magonn & Co.. ! Sight....
83«
83«
83«
83«
83«
(Bank British
( 60 days.
.83«
Europe, the imperial customs have been directly ad
86
86
86
86
8«
86
No. America.. ( Sight«..
83«
83«
83«
83«
83«
83«
£3ank o f
(60 days.
ministered by Sir Robert Hart, the English Commis
86
86
86
86
86
.Montreal........ 1Sight.... 86
83«
83«
88«
83«
83«
83«
«Canadian Bank (60 days.
sioner. The first response of England, therefore, to
86
86
86
86
86
86
o f Commerce.. 1Sight....
83«
83«
58«
83«
83«
83«
the movement of the German fleet on China was the
Heidelbach, Ick- (60 days.
86
86
86
86
86
86
elheimer & Co. I Sight....
dispatch of seventeen ironclads on the 28th of last
83«
83«
83«
83«
88«
83«
days.
iLazard Freres... (60
86
86
86
86
85«
85*
! Sight....
month
to the coast of Corea.
84
84
84
84
83«
88«
.\Merehants’ Bk. (60 days.
*Sight....
86
86
86
86
86
86
o f Camada..
Some people, including, it will be remembered, the
Rates for actual business yesterday were 4 82£@4 82f alarmists on our own stock market, interpreted this
for long, 4 85@4 851 f ° r short and 4 85£@4 851 for move as a note of defiance to the Continental Powers.
«cable transfers.
Prime commercial bills 4 81f@ 4 82 It was not, however, either intended or understood as
;abd documentary 4 811@4 811. Grain bills 4 82@ such a menace. As the event appears to prove, the
4 821. Cotton' bills for acceptance 4 81£@4 82 and cot English fleet was sent into the Asiatic waters to sus
ton bills for payment 4 8 1 f@ 4 82.
tain such demands as Great Britain might have to
Gold to the amount of $1,000,000 is reported due at make in the general settlement which must of course
'San Francisco from Australia.
ensue.
Moreover, it presently appeared that the
The following statement gives the week’s movements British Ministry was interposing no objection to the
<®1 money to and from the interior by the New York general policy of the Continental Powers. That, in
banks.
the event of a real dismemberment of China, England
was ready to advance a claim for an important share—
Received by Shipped by
Net Interior
Week Ending January 14,1898.
ST, T. Banks. N. Y. Banks.
Movement.
including, doubtless, the treaty ports already virtually
$9,064.000 $1,594,000 Gain.$7,470,000 under its control— seems to be conceded by the best822,000
411,000 Gain. 411,000
informed portion of the London press. Beyond this
(Total gold and legal tenders .... $9,886,000 $2,065.000 Gain.$7.88Ì.OOO
attitude of contingent assertion of its claims, the
Result with Sub-Treasury operations, etc.
Ministry is pursuing only a waiting policy.
Into
Ont of
Net Change in
rfVeek Ending January 14, 1898.
Unofficially the British Government has taken a
Banks.
Bmks.
Bank Holdings.
still
more decided step in the direction of non-inter
Banks’ interior movement,as above $9,886,000 $2,005,000 Gain.-7,881,000
17,000,000 15,200,000 Gain. 1,800,000 vention.
Members of Parliament who are accepted
Total gold and legal tenders...... $26,886.000 $17,205.000 Gain $9.681,000 as spokesmen of the Ministry have in substance bade
The following table indicates the amount of bullion the Continental Powers to go ahead in their policy of
n the principal European banks this week and at the acquisition; Mr. Lowther, for instance, remarking
corresponding date last year.
according to last week’ s cables, that “ we must not be
surprised if Germany, France and Russia are as
January
14,1897.
January 18, 1898.
anxious now as we were in former years to take what
'Bank of
Silver.
Gold.
lotal.
Gold. | Silver.
Total.
does not belong to them, and establish positions of
£
£
£
£
I
£
I
£
85,694.282 advantage along the Chinese coast.”
iffingtond........ 81,387.268, ............. 31,387,268 35.594,282
This declaration
77,621,011 48,214,362 125,835,373 76,199,260 49,021154 125,220,414
iFrance....
27.490,687 13 745.333 41.236.000 Of policy has been in substance re-affirmed by Mr.
*Germany...... 29.650.000 15.874.000 44,924,000
Aust.-Hung’y 36.437.000 12,336,000 48,773.000 30,295,000 12,681.000 42,876,00* Balfour, thus committing the Ministry even more
f-Spain.
. ... 9.431.000 10,310 000 19,741.000 8,528,- 00 10 080 000 18.608.00
, Netherlands. 8.629.000 6,789 000 9,418 000 2.634.000 6.821.COO 9,455.000 directly.
-Nat. Belgium. 2.861.000 1.430,000 4,*«1,000 2,796 0 0 1,398.000 4,194,0«
But on one principle these spokesmen of the Gov
'«Tot this week 190.016,279 04,353,362 284.369,641 183,637,209 03.646 487 277,18*,696
'T o t . prev.w’k -189.272.024 94.022.36: 283.294,391 192,127.726 93.977.986 276.105.71. ernment are taking a firm stand, and their attitude
.January 15, Idi 8 J
THE CHRONICLE.
107
i n this direction goes to show the motive of their will
In another of Spain’s colonies, the Philippine
ingness to witness the land appropriations.
In all Islands, something like 34 per cent of the import
these newly-established colonies or territories there trade comes from Great Britain; only 13 per cent from
must be “ n© preference” in trade. English ships Spain. Chili and the Argentine Republic, though
and English commerce must be allowed the same independent nationalities, are in the main] ^in
equal right of entry which they now enjoy. There habited by alien and non-English speaking peo
may be o f course, and doubtless will be, customs ple; yet to the first England sends nearly oneduties imposed at the ports of Kiao-Chou and other haif of the country’ s annual importations and
annexations of Continental Powers; but these duties to the second it sends three times as much as
must equally apply to German, Russian, French and comes from any other single foreign State. In other
English merchandise. In other words, the European words, the true secret of England’s predominance in
colonies must open as equal a field to the commerce foreign trade has been, not the fact that it has dotted
of the world as great Britain’s colonies do to-day.
the world with its own colonies but that it has learned
There are, it will readily be seen, two problems in- h ow to adapt its manufactures to the peculiar wants
wolved in England’s attitude towards the Asiatic ac of all consuming populations. It is easy, therefore,
quisitions by rival powers— the political question and to understand the comparative indifference of the
the commercial question. Such declarations as that English trade community to the question what flag
quoted above from Mr. Lowther show the feeling of the floats over the Chinese custom houses provided theEnglish mercantile community, and its basis is unques rules and assessments of such custom houses admit all
tionably sound. China has long been open on equal foreign merchandise on equal terms.
terms to the export trade of other nations. Excluding
As to the question whether a real political power
^the importations entered from India, from Japan, and can be established in the East through such acquisi
from the treaty port of Hong Kong, the statistics tion of Chinese ports by Continental governments,
-show that nearly 75 per cent of China’ s imports direct that cannot be settled off-hand. We have already
from European or American States have come from noticed the entire improbability that large communities
England. Germany’s commerce direct with China has of French, German or Russian population can be built
been so small as hardly to be included in the general up at these points. Such a result is made imprac
reckoning. Such a showing barely suggests any need ticable, not only by the overcrowding of China with
for fear by the British export industry if, while Chi its present population, but by the lack of colonizing
nese territory passes into alien hands, the non-prefer- power in the* three Continental States. In France"
ential right of commerce still remains.
the home population, by the official returns, is slowly
It might perhaps be imagined that the official pre decreasing ; it is not likely, therefore, that citizens :
dominance of Germany, France or Russia in the gov will be spared for immigration.
Russia will have
ernm ent of such territory would increase the proba enough to do for many decades to develop its own fruit
bility of exports from the Continental manufacturers. ful interior domain; there has never been emigration
This wbuld undoubtedly be in a measure true if col from that State unless, as with the Jews, under com
onization were to be undertaken in the manner of the pulsion. As for Germany, it is true that the country’s
•eighteenth and seventeenth centuries—if the Conti population is large enough to spare plenty of emi
nental Powers were to empty into the new territory grants, but the emigrants have hitherto shown, an
some thousands or millions of their home population, overwhelming preference for new homes under another:
who would forthwith begin to develop the industries flag than Germany’s. The most, therefore, that any
■of the East. But nothing of the sort is conceivable. of these three States can look for as a result of the
«China possesses already an overflowing native popula- Chinese concessions is an increased prestige and sòme
’lation; emigration, not immigration, has long been its added naval stations. In neither can they hope to
natural movement. The foreigners along the Chinese compete with what other countries already hold on
■«oast to-day are merely a small body of merchants and the Asiatic coast.
traders, who receive and ship the Chinese produce and
The propriety and morality of this seizure of Chinese
in turn seek out an Oriental market for the Western territory is hardly more than an academic question. It
manufactures. To imagine the colonization of China is justified by the old rule of the right of the stronger,
on a scale such as that of North America, Australasia under which England appropriated India, Spain ap
or even South America and South Africa would be the propriated Mexico, and the American people appro
height of the ridiculous. Whoever rules over China priated the lands of the aborigines.
Professor
-and the Chinese ports of entry, that nation which is Woolsey, in an interesting communication to last
best able to accommodate its manufactures to the Thursday’s “ Times,” argues with much force that
tastes and needs of the native population will enjoy China, being “ a, great, barbarous, unwieldy mass,
the commercial profits of Chinese trade.
without cohesion,” is in a measure outside the pale of
There have been quite as forcible illustrations of international law as practiced among progressive
‘this truth in other nations than China. Cuba, for in States, and is subject therefore to forced develop
stance, has been bound down by every possible expe ment and propulsion by its civilized neighbors. The
dient which should give a predominant advantage to dismemberment of Turkey is instanced to show the
Spain in its foreign trade, and it is true that Cuban application of similar principles to a State and Gov
imports from Spain are larger than those from any ernment incapati® cf meeting th® demands of mode*other single foreign State. Yet if Cuba’s imports, in progress.
a normal year, from Great Britain and the United
If this theory is to be accepted—and we hardly
States combined are taken into reckoning, it will be think it will be disputed in the light of all develop
found that Spain controls little more than one-third ments of modern history—then the movement of
of the Island’s import trade. With preferential du European powers on the Chinese coast is distinctly
ties abolished, the two English-speaking States would a forward step in nineteenth century civiliza
undoubtedly control nearly all the trade of Cuba.
tion.
106
THE CHRONICLE.
[VOL. L X VI,
seen that, although for the last six months of 1897 the
A N IN T E R P R E T A T IO N OF THE F A IL U R E total liabilities and average liabilities have decreased
FIG URE8.
materially, the failures in that period are large. Indeed
Dun’s figures of failures are given in detail on page
117 to-day.
We stated last week that compared
with 1896 the total liabilities, the average liabilities
and number of disasters for 1897 showed a substantial
decrease. The number was 13,351 in 1897 and the
average liabilities were $11,559 ; in 1896 the number
was 15,088 and the average liabilities were $14,992.
A more significant fact however is that almost the
entire improvement here shown occurred in the last
half of the year. For the first six months of 1897 the
total number of failures was 6,821 and the total liab
ilities were $91,692,787, making the average $13,442 ;
whereas in the last six months the number of failures
was 6,530,¡the total liabilities were $62,639,284, giving
an average of only $9,060.
This contrast is significant because it shows, what
to be sure we all know, that the conditions the past
year in business affairs must have changed materially
soon after the first of July. But the chief interest
does not attach to that contrast. We have during
recent years passed through an extremely trying
period, and a term of months might be found to
present a favorable comparison with those years with
out indicating a very substantial relief. The actual
status is the factor with which every one desires to be
acquainted. The question the public naturally asks is
— what degree of commercial health do the con
ditions of this closing half-year indicate ? T o reach
a conclusion on that point requires a longer compari
son. We have consequently prepared the following
statement going back to and including 1890, and have
divided Dun’s record into the corresponding sixmonth periods.
.—F ailures J a n.-Ju ne—Q mos.—. ^ F a ilu r e s July-D ee.—6 mos.—,
A m ou n t A verage.
A verage Num ber
A m ount
N um ber
Failures. Liabilities. LiabiliV8. F ailures. L iabilit’s. Liabilt's.
$
$
$
$
62,639,284
9,593
6,530
13,441
91,692,787
1 8 9 7 -6 ,8 2 1
128,227,152
8,062
15,905
13,930
97,869,682
1 8 9 6 -7 ,0 2 6
84,356,116
6,540
12,897
13,345
88,839,944
1 8 9 5 -6 ,6 5 7
71,259,550
10,408
14,455
6,847
1 8 9 4 -7 ,0 3 8 101,733,306
20,122
8,841 177,900.350
26,383
1 8 9 3 -6 ,4 0 1 168,879,539
10,694
51,770,487
4,851
11,316
62,273,680
1 8 9 2 -5 ,5 0 3
15,785
97,452,371
6,199
15,215
92,416,267
1 8 9 1 -6 ,0 7 4
22,553
12,130
5,!\22 124,537,580
65,319,384
1 8 9 0 -5 ,3 8 5
The above presents some notable features. First of
all it makes more conspicuous the contrast between
the last six months of 1897 as a whole with the same
six months of 1896; a glance is enough to convince
every observer of the radical character of the improve
ment in each item. But, as already said, that of itself
is not a fair test, for 1896 was a peculiarly trying year.
If, however, we carry the investigation further back, it
will be seen that the average liabilities for 1897 arc the
smallest for any six months in the statement, and that
the total liabilities have been smaller only twice. Those
are significant results and still further impress the
reader with a couviction of the decided character of the
change for the better which has taken place. It is
certainly an advance worthy of remark and a cause
for great gratification that we are freed, for a time
at least, from those appalling total disasters which have
been such a conspicuous feature in the situation ever
since 1890 began.
It will be instructive to show shortly that these un
interrupted large disasters belong to and distinguish
the period the above statement covers and did not
ante-date it. But before passing to that matter we
wish to call attention to one fact, not ref erred to above,
w h i c h the foregoing compilation discloses, t It will be
the total is only very little less than an average of all the
six months in the foregoing statement. We have made
up that average for the first and last six months
separately; 'the average appears for the last six months
of each year to be 6,673 and for the first 6,363. Those
results disclose that although the number of failures1
in the last half of 1897 were 6,530, that is considerably
less than in the corresponding six months of 1896, they
were very little less than the average of the same six
months (July to December) for the years 1890 to 1897,
both inclusive, and were actually larger than the aver
age was for the first six months (January to June) of
the same years.
We thus seem to be brought to the unavoidable
conclusion that although the trade conditions in the
United States improved in the last half of 1897, the im
provement was of such a character as to decrease the
number of large failures, but at the same time to in
crease the disasters among men of small capital.
Such a state of affairs must mean that the strain to
which trade had been subject was not lifted so far a&
to relieve the class doing a minimum of business. It
so happened that though demand increased, general
prices did not advance, leaving in many cases the
margin of profit narrower.
Under those circum
stances only the merchant of large capital and largo
transactions would be benefited. Those facts may
suggest the explanation.
We have remarked above that the annual aggregates
of liabilities, which were so large and so conspicuous a
feature from 1890 to 1897, were much smaller for the
years previous to 1890. To illustrate this situation
we have compiled from Dun’s records the following
statement, made up in the same form as the foregoing,
but starting with 1879, the year specie payments werereestablished, and closing with 1889.
•-----Six months—Jan.-June
. r-S ix m onths—July-D ee.-------- ,
A m ou nt
A m ount
A verage Num ber
AverageNumber
liabilities. liabilit’s. fa ilu res. liabilil’s. liabilit's
fa ilu res.
9
$
$
$
82.955,484
15,722
11,749
5,279
65,828,853
1 8 8 9 -5 ,6 0 3
13,126
5,490
55,715,814
68,114,159
10,149
1 8 8 8 -5 ,1 8 9
4,722
112,422,852
55,138,092
23,808
1887..4,912
11,225
9,782
13.726
4,678
50,434,460
64,209,659
1 8 8 6 -5 ,1 5 6
12,445
4,633
49,497,966
10,684
74,722,355
1 8 8 5 -6 ,0 0 4
22,576
5,458
101,952,145
18,679
1 8 8 4 -5 ,5 1 0 124,391,282
14,274
4,547
66,189,034
106,685,138
23,643
1 8 8 3 -4 ,6 3 7
14,062
3,141
50,966,«44
50,580,920
16,226
1 8 8 2 -3 ,5 9 7
14,297
2,716
40,209,287
14,805
40,946,645
1 8 8 1 -2 ,8 6 6
32,888,763
13,171
2,238
32,863,237
14,675
1 8 8 0 -2 ,4 9 7
65,779.390
16,210
2,600
12,450
32,369,663
1 8 7 9 -4 ,0 5 8
Comparing the foregoing table with the one pre
viously given in this article, it will be found that the
average of total liabilities for the closing six months of
the years 1879 to 1889 was $66,349,808, against $99,767,861 in the similar period of 1890 to 1897 ; and for
the first six months the average was $65,779,390 in
1879-89, against an average of $96,128,074 in 1890-97.
In other words, the item of total liabilities in Dun’s
failure figures has increased since 1890, on an average,
not far from 50 per cent. These results, too, it should
be remembered, have been attained notwithstanding a
much lower average value of commodities has ruled in
the later period (1890-1897) than in the earlier period
from 1879 to 1889. On the other hand, no doubt the
collecting of data as to failures is more thorough
now than it was in the earler period; that would be
a natural development of such work. Granting then
these two conditions to have existed, it may be not
far from the truth to assume that one would offset.
January 15 184:8 J
THE CHRONICLE
the other; that is to say, that the comparison as it
stands is a fair one.
Assuming that to be a correct conclusion, these un
interruptedly large losses become not only an indication
but in some degree a measure of the peculiar and in
creased hardships merchants have been called upon
to endure since 1890. Conducting business amid such
uncongenial conditions as have existed could only lead
to low prices, small margin for profit, disturbed
credits, and failures.
Indeed all the conspicuous
features of Dun’s record seem to illustrate the same
state of things and-enforce the same truth.
PENSIONS.
We are glad to see that as the examination of ways
-and means for enforcing Government economy comes
to a focus, popular discussion is converging on the
pension laws. We believe that no time could be more
propitious than the present for dealing properly with
this question ; first, because the necessity for public
retrenchment is realized by both voters and politicians,
and second, because the party in power has always
claimed devotion to the true interests of the veteran
soldier, and will therefore not be subject to misrepre
sentation as to its motives in the case. Such insinua
tions raised against previous efforts at reform of pen
sion abuses have never had a reasonable basis ; they
have appealed usually to the basest passions and the
meanest prejudices among the people. But they have
had their influence, largely because of the political
sources in which they had their, origin, and therefore
we say it is fortunate that the pension question should
be reviewed in the present Congress and under the
present Administration.
To get at the root of this question, let us notice
briefly, first, the history of the pension appropriations.
A t the outbreak of the Civil War, in the fiscal year
1862, considerably less than a million dollars was dis
bursed by the Government on this account. In 1866,
the first full year after the close of hostilities, the roll
of pensioners numbered 126,722 and pension expendi
ture was $15,600,000. This large increase was war
ranted, though it should be observed that even then
the outlay considerably exceeded pension expenditure
of any foreign Government at the close of war. By
1871 however the list of pensioners had nearly
doubled, and the annual expenditure on that account
had risen to $34,413,894. The statesmen of that day
regarded the large pension appropriations as a matter
calling for explanation and apology. General James
A. Garfield, than whom the Union veterans never
had a more stanch and faithful friend, declared in the
House of Representatives during January 1872, when
presenting the Session’ s appropriation bill : “ We may
reasonably expect that the expenditures for pensions
will hereafter steadily decrease unless our legislation
should be unwarrantably extravagant.” Y et in 1878
the annual pension expenditure had risen to $61,000,000 and in 1882 Congress appropriated for the bureau
the sum of one hundred millions. Here was a singu
lar commentary on “ the steady decrease” predicted in
1872 by General Garfield.
But there is no mystery about this increase in the pen
sions. It did not arise from greater needs of veterans,
or from a greater Congressional appreciation of their
services. It was an expedient adopted . purely for
financial purposes. A fler resumption, there was a
109
policy failed to check the absorption of currency into
the Treasury. A large part of the Congressional ma
jority was unwilling to follow President Arthur’ s
advice and reduce the import tariff, and appropri
ations were increased merely to dispose of the surplus.
Pensions, however, are the most dangerous possible
field of outlay to which to apply the principle
of relieving a surplus through extraordinary expendi
ture. This is true, first, because pensions are usually
permanent, and thus fix the budget of expenditure
not only for that year but for the lifetime of the
applicants, but, second, because the selfish instincts of
the entire community are aroused by such wholesale
largess.
That this should be so is no disgrace
to the Civil War veterans as a class; it merely
typifies a weakness common to the race. Our soldiers
of the War of Independence are placed on a tra
ditional pedestal. Yet the veterans of that war were
not proof against the same temptation, even in days
of close public economy, and twenty years after the
surrender of Cornwallis it was a common saying at
Washington that “ the Revolutionary claimant never
dies ; he is immortal.”
It was certainly not surprising that the veterans of
1882 should have shared the weaknesses of the veter
ans of 1803. But the consequence was inevitable ; a
host of pension agents descended on Washington ;
Congressmen were besieged with applications, and the
“ private pension bills ” of the Senate became what
wa3 little short of a public scandal. Most unfortu
nately for this part of the situation, the surplus reve
nue, after a brief reaction in 1884 and 1885, began
mounting up again with great rapidity. In 1888 it
became a real and serious embarrassment to trade.
Appropriations rose by leaps and bounds. River and
harbor improvements and new public buildings were
dealt out with a lavish hand ; but beyond all, the
budget of pension expenditure was swelled. In th e
fiscal year 1893, on the very verge of the collapse of
the Treasury’ s surplus fund and of its annual surplus
revenue, there was paid out for pensions $159,357,000,
nearly five times as much as the sum which General
Garfield, twenty-one years before, had declared to be
the maximum under honest and economical adminis
tration.
This brief review of the history of our pension
legislation will show to the reader why the pension
budget is a proper subject for thorough overhauling.
Nobody has any wish to deny provision from the pub
lic treasury to any veteran crippled or disabled by his
services to his country. Many people of the United
States, though certainly not all, would go as far as
President Harrison went in his first annual message of
December 18.89, when he advised pensions for all sur
vivors of the army who should become unable to earn
their living, whether their disability originated in the
service or not. But as everybody knows, the pension
roll has been made, in the wild Congressional extrava
gance between 1886 and 1890, to cover cases which could
not by the most liberal construction be embraced even
in Mr. Harrison’s prescribed limits. Pensions have
been and still are granted in an enormous total to ablebodied survivors of the war, to well-to-do survivors, to
deserters, to youug women who had married aged
veterans in the sole expectation of inheriting their
pensions. . These are not matters of assertion or con
jecture ; they are matters of public record, which
were known to all, long before Commissioner Evans
no
THE CHRONICLE.
This being true, and the fact being recognized that
the pension outlay has been expanded vastly beyond
reasonable limits, it will be seen at once that the prob
lem is not at all a question of restricting the just
allowances of Government to those who have fought
and suffered in its service. This point, we think, was
completely missed by Mr. Edward Atkinson in a
recent communication on the subject to the
Times.” Mr. Atkinson reasoned that no compensa
tion could adequately reward the services of the sol
diers ; that no taxpayer has suffered through the in
crease in the aggregate pension levy ; that in fact the
total expenditure of our Government per capita of
population has not materially increased since 1879;
and that therefore the general criticism of an exces
sive pension budget is not reasonable. But this argu
ment, when reduced to simple terms, would run
somewhat as follows : We have plen ty; we have a
quarter in which that plenty may be distributed with
out wrong-doing ; therefore let us distribute it. It is
hardly necessary to point out the exceedingly danger
ous corollaries to that proposition ; they were pushed
to a final demonstration in the days of surplus reve
nue, and it is the results of that very process under
which the Treasury has since been sinking.
The truth is, that owing to the accidents in Govern
ment finance to which we have already referred, Con
gress, and in a degree the people, have been led far
astray from the principles underlying the proper award
of military pensions. Services rendered under arms
by a citizen to a State can never be rewarded— Mr.
Atkinson is right in that— and no Government or
people in history has ever asserted that they could be.
Such service is the final contribution of a citizen to
his country and his race ; it must in its nature be for
the most part a voluntary contribution. If the sordid
question of “ reasonable” payment were to be ad
mitted, then the soldier in the field— particularly the
volunteer soldier— ought to receive wages infinitely
greater than the highest payments made in industrial
pursuits. The supposition is of course absurd; but
it is no more absurd than the theory that the soldier’s
services may be or ought to be rewarded by a money
payment later on.
That a soldier who has suffered physical disability
as a direct result of his military service ought to be
cared for by his Government is admitted by all na
tions. That the dependent widows of soldiers who
have fallen at the front have a similar title to support
is equally conceded. On these two principles, and on
these alone, depends the legitimate theory of military
pensions. The total pension expenditure of Great
Britain, including army and navy half-pay service, is
barely $25,000,000 annually; on the German Empire’s
annual account the “ pension fund” and ifinvalid
fund” combined are several millions smaller, and
neither of these governments has ever been accused
of ingratitude or stinginess towards its veterans. Let
our own recent annual pension expenditure of $159,000,000, nearly thirty years after the last shot of the
Civil War was fired, be contrasted with these foreign
pension budgets, and the nature of the American
system will be better understood.
How far the present standing pension list ought to
be or can be revised is a difficult question. But as
regards the general question of the budget, the
problem is simplified by the fact that a very large
part of each year’s pension appropriations may be de
scribed as outright grants of cash in lump sums.
On
[Ton. L x v r .
this practice a halt ought to be called immediately.
A partial halt was called in the Treasury’s hard times
between 1893 and 1896, and twenty millions were in
that period cut off from the annual pension outlay,
nobody suffering from the process.
But in the fiscal
year ending with June 1897 the pension budget
began another ominous movement of increase. It rose
then nearly two millions over the year preceding, and
the pension appropriations for the current fiscal year
were equally large. It is time that the matter should
be taken in hand in earnest, unless the old system is to
begin again, and that a proper body of experts should
go to the root of this mass of old abuses. But in
order to accomplish anything there must be some
other machinery of reform than a mere expression of
interest by standing committees of Congress. The
Senate in particular knows by a long experience how
to reduce such good resolutions, framed at the opening
of a session, to empty nothing.
R A IL R O A D GROSS E A R N IN G S FOR 1897.
If any one still had doubt as to the substantial char
acter of the improvement in railroad earnings which
occurred during the late calendar year, the compila
tions which we present below would serve to dispel such
doubt. In the magnitude of the gain disclosed the
showing will be a surprise we imagine even to those
who kept careful watch of the results from month to
month. Viewed after its close, the year is seen to
have been by all odds the very best the railroad-carry
ing interest (considering it as a whole) has had for a
long term—the best not only since the panic of 1893,
but since before that time, say since 1890.
In speaking thus we have reference of course to the
absolute amount of improvement in earnings shown.
On this point the aggregate result is gratifying be
yond expectations. We are writing within a short
time after the close of the year, when it is not possisible to have complete figures.
And indeed, even
under the best of circumstances some months must
elapse before final and exact data can be obtained.
The returns we have already procured, however,
afford a sufficiently clear indication of the nature and
extent of the improvement (or shall we say recovery ?)
which has been established. We have had returns for
the full twelve months from 133 companies operating,
roughly, one hundred and six thousand miles of roq,d in
1897. These 133 companies earned $602,236,028 gross
in 1897, against $564,516,909 gross in 1896, a gain of
$37,719,119. In addition we have figures for eleven
months of the year from 68 companies operating
in 1897 53,732 miles of road. These roads earned
$435,266,490 in the eleven months of 1897, against
$414,080,848 in the eleven months of 1896, a gain of
$21,185,642. Altogether, then, we have a gain of
$58,904,761, or 6*02 per cent, on 159,651 miles of road.
The final totals, it will be observed, are of great magni
tude, that for 1897 being over a thousand million
dollars ($1,037,502,518), which evidences the compre
hensive nature of the exhibit and speaks eloquently
of the size of the railroad industry.
Mues or Road
End of Period.
Gross Earnings.
1897.
1896.
*
*
«
602,238,028 564,516,909 37,719,119
21,185,642
435,266,490 414.080,848
105,919
5^732
104,528
53,231
Grand tot. (3 0 1 r’ds). 1,037,602,618 978.697,757 58,904,761
lBO.föl
157,769'
1897.
1 3 3 roads full year....
6 8 roads 11 months...
1896.
Increase.
THE CHRONICLE.
January 15, 1898.]
The list of roads which have as yet reported for
only eleven months includes some large companies
sure to record heavy gains in the final month, Decem
ber ; and if we were asked to venture a guess as to
the amount of the increase for the full twelve months
on the whole railroad mileage of the country, we
should say it must be between 70 and 75 million dol
lars. But even at 58 million dollars the gain is heavy
and betokens a large and active volume of business.
In no other recent year has the amount of increase
been so considerable. In 1895; when the MorganBelmont contract stimulated general trade revival,
there was also a marked expansion in the revenues of
the roads, but the addition then was not quite fifty
million dollars ($49,930,967), the basis of computation
having been the same as for 1897— that is, part of the
returns being for only eleven months. In 1896 the
roads did little better than hold their own, the increase
then being only $3,176,917. In 1894 (after the panic
o f 1893) they suffered a loss in the large sum of
112£ million dollars ; in 1893 itself they lost over 25
million dollars. But while the 1897 result is thus
considerably better than that for these other years, it
is of course obvious that the $58,904,761 gain does
not represent that much new revenue, but merely a
recovery of the large losses sustained in 1894 and 1893,
though to be sure it is none the less welcome on that
account. The following furnishes a summary for the
last five years, both for the twelve months and for
December. The latter reflects the conditions at the
close of the year, and it will be seen that our remarks
above apply also to the figures for the month —that is?
the 1897 exhibit is by far the best of any recent year.
Mileaae.
Darnings.
Year
Given.
Year
Preceding
Year
Given.
December.
1893 (127 roads).......
1891 (125 roads).......
1895 (123 roads).......
1896 (135 roads).......
1897 (138 roads).......
Mile».
97,378
96,390
99,975
97,233
103,672
Miles.
94,369
95,829
99,854
96,440
102,261
$
40,319,046
38,937,350
45,025,818
42 893,334
52,299,577
Jan. 1 to Dec. 31.
1893 (183 roads)......
1894(191roads)....
1895.201 roads)....
1896 (205 roads)......
1897 (201 roads')..
141,839
151,001
148,265
154,129
159,651
138,371
150,031
147,837
152,923
157,759
Year
Preceding
Increase
or
Decrease.
t
$
46,793,383 Dec. 6,474,337
39,179,33» Dec. 241,984
41,249,398 Inc. 3,716,460
43,507,220 Dec. 613,886
46,542,46? Inc. 5,757,109
936,287,955 961,407,915 Dec 25,169,960
865,702,814 978,128,165 Dc.112,425,321
886,257,3.;6 836,826,418 In c .49,930,967
924,359,561 921,132,644 Inc. 3,17d.917
1037502518 978,597.757 Inc.58 9'H.7ftl
What gives special significance and importance to
this gain of $58,904,761 for the year is that it was all
made during the last six months. In reviewing the
figures for the first half, in our issue of July 10, we
commented on the fact that though some of the separ
ate roads had done well the results as a whole afforded
no evidence of a marked change for the better. A
preliminary table which we then gave covering 159,135
miles showed $1,266,174 loss. A later statement pub
lished in the C h r o n ic l e of August 28, and covering
163,687 miles, showed a loss for about the same
amount, namely $1,115,001. The truth is, the condi
tions still continued unfavorable during the first six
months. Trade was quiet and inactive, and it was not
until the last half of the year that the great change
in the situation for which the year is distinguished
occurred. In both January and February our monthly
statements showed a falling off in earnings, .and
though the remaining four months of the half-year re
flected gains, the improvement was small each month,
except for May, when the increase amounted to 5T4
per cent.
Besides the fact that the uncertainties of tariff legisla
tion tended to restrict activity in trade, there were spec
ial depressing influences which kept tonnage and reven
Ill
ues small. The weather was an important drawback
for one thing. Out West, while there were no such
general snow blockades as have on occasions been
noted during other winters, yet some of the individual
roads nevertheless suffered severely. At the beginning
of the year there were complaints of high winds and
drifting snow on theG-reat Northern and the Northern
Pacific. Later there were reports of snow blockades
on the outlying lines of many of the systems running
to Chicago, the main lines, however, remaining com
paratively free from obstructions of this kind. T o
wards the close of February floods at Cincinnati,
and throughout the Ohio Valley proved a serious
hindrance to many roads. This was followed in March
by heavy rains, high water, floods and washouts
throughout the whole of the Mississippi Valley. The
overflow of the Mississippi was the worst on record,
lasting through many weeks, and it was attended by
great destruction of property and the loss of many
lives.
During these six months, too, the grain movement,
which proved such a noteworthy feature the last six
months, did not run much ahead of the previous year,
in certain sections actually falling behind. The 1896
grain harvest, it will be remembered, had been of
great magnitude, but in the spring-wheat districts the
yield of that cereal did not come up to the phenome
nal out-turn of the previous year, and the resulting
contraction in the wheat shipments from those dis
tricts counted as an adverse circumstance against
many of the large systems extending out from Chi
cago. As a matter of fact there was a small falling
off at Chicago the first half of the year in the receipts
even of corn, oats and barley. The comparison at
other primary markets was but little better, the deliv
eries of wheat, corn, oats, barley and rye at Chicago,
Milwaukee, St. Louis, Toledo, Detroit, Cleveland,
Peoria, Duluth, Minneapolis and Kansas City com
bined having been 213,149,446 bushels in the 26 weeks
of 1897, against 204,085,860 bushels in the same
period of 1896, giving an increase of only about 9 mil
lion bushels. At the seaboard, though, there was a
more marked increase, the 1897 receipts having been
160,681,070 bushels, against 92,755,067 bushels in
1896. Still even here the gain the second six months
was very much heavier, as we shall presently see.
The last half of the year the entire situation
changed. Dollar wheat again gladdened the hearts of
the farmer and of the entire community. Further
more, the country was once more blessed with bounti
ful harvests, while the rest of the world had to con
tend with a shortage. The demand for our cereals
reached extraordinary proportions.
The increased
movement of wheat alone was sufficient to give the
roads in the agricultural sections a new era of pros
perity. But in addition the high prices realized by
the farmers for their products made these classes un
usually prosperous, and through their enlarged pur
chases stimulated the movement of merchandise and
general and miscellaneous freight.
The East
ern manufacturing centres in turn felt the quick
ening influence, and the close of tariff legis
lation helped further to promote trade re.vival,
which thereafter continued to spread and to gain in
force. As a consequence the monthly returns, which
in June had shown only 2T7 per cent increase, in July
showed 5T6 per cent increase, in August 12-40 per
Fcent, in September 14T 4 per cent, in October 8*97 per
cent, in November 20*79 per cent, and now for Dec-
112
THE (JH&ONICLE.
ember 12*37 per cent. The improvement for Nov
ember was exceptionally large, because then compar
ison was with a month last year when things were at
their lowest ebb, the effects of the starting up of mills,
factories, &c., which occurred after the November
election not appearing in earnings until some time
subsequently.
We annex herewith the monthly
figures.
Mileage.
Period.
January (129 roads)
Febr’ary (130 roads)
March (126 roads) ..
April (133 roads)....
May (131 roads)......
June ;120 roads) ...
July (127 roads)......
August (123 roads).
Sept’ber (133 roads).
October (132 roads)
November (131 r’ds)
December (138 r’ds)
Earnings.
1897.
1898.
1897.
Miles.
95,271
96,022
96,895
99,036
98,280
94,957
100,859
97,362
100,119
101,408
100,645
103,672
Miles.
94,708
95,335
96,21)4
98,360
97,511
94,298
99,445
95,784
98,581
100,021
99,262
102.281
$
34,977,629
35,248,138
38,799,547
38,147,090
39,711,930
38,469,736
44,951,350
45,056,637
51,538,569
55,937,269
52,182,577
52.299.577
1896.
Inc. orDtC. P.G.
[VOL. LXV I,
In the favorable influences of the year, the park
played by the large grain movement in swelling traffic
and revenues of course transcended that of all others..
To show in a striking way how marvelously this grain
movement has increased during the last two years, we
reproduce here the following table, taken from the
breadstuffs statistics given in the Chr o n icle of last
week, and showing the receipts of flour and grain at
the Atlantic seaboard for each of the last four yearsIt will be observed that over 420£ million bushels of
grain were brought to the seaboard in 1897, against
not quite 263 million in 1896, and but 161| million
bushels in 1895.
$
*
37,520,730 -2,543,101 6-78
35,568,104 —319,966 0-89
38,189.106 +610,441 1-60
GRAIN AND FLOUR RECEIPTS AT SEABOARD.
87,604,856 +542,234 1-44
Receipts of—
1897.
l s96.
1895.
37,769,148 +1,942,782 5-14 Flour....................
12,781,024
17,880,141
37,653,080 +816,656 2-17
....bush.in8.297.00l
68.284.239
50,684.527
42,748,940 +2,205,410 5-16 Wheat.................
Corn..................... .... “ 188,667.162
101,012,590
61,159.211
97,853,873
40,085,379 +•4,971,268 12-40 Oats...................... ... “
74,169.725
44,106.191
.... “
13,436.941
13,332,033
5.046.020
45.152,746 +6,885.823 14-14 Barley..................
12,278,873
Rye...................... .... “
6,194,790
569,884
51,835.090 +4,602,179 8-97
Total grain...
262,993,377
161,565,833
43,201,129 +8,981,448 20-79
46.542,468 +5.757.109 12-37
1894.
20,553,131'
67,899,094
44,658,085
44,139,588
4,865,752
602,210
151,664,724
At the West the comparisons reveal hardly less note
worthy expansion, the receipts at the primary markets
for 1897 aggregating 645,555,844 bushels, against only
550,760,654 in 1896. The increase here is, roughly,.
95 million bushels, and all but about 9 million bushels
of it, as already indicated, occurred during the last
six months. We may note that in 1895 the receipts
had been only 429,477,590 bushels. Thus in two years
the addition has been over 216 million bushels. We
may say that, roughly, this is equal to five million tons.
of freight. Below we show the grain receipts in de
tail in our usual form, both for December and the
fifty-two weeks. It will be seen that the smaller
spring wheat movement the early part of the year is
reflected in a falling off of about 8|- million bushels in
the wheat deliveries at Duluth.
It should not be overlooked that the great improve
ments in results the last six months occurred, too, in
face of some adverse influences of large magnitude.
From July 4 until well towards the close of Septem
ber there was a general strike of the bituminous coal
miners, embracing Western Pennsylvania and Ohio,
Indiana and Illinois. During September, October
and a part of November the yellow fever put an em
bargo on trade in the South. Furthermore, railroad
rates in nearly all sections of the country became
steadily more demoralized, the decision of the U. S.
Supreme Court the previous March declaring the
Trans-Missouri Freight Association an illegal body
having loosened the bonds between the roads. Many
prominent railroad officials
question whether
GRAIN FOR FIVE WEEKS ENDING DECEMBER 3
the rates realized on competitive business left RECEIPTS OF FLOUR AND AND
SINCE JANUARY 1.
any profit to the roads.
The demoralization
Plow.
Wheat.
Com,
Oats,
Barley,
Rye.
was especially pronounced east of Chicago. Here
(bbls.)
(bush.)
(bush.)
(bush.)
(bush.)
(bush.)
too the effects were most marked. In the West the
Chicago—
453.137 7,237,053 7,987,440 12,653,782 1,928.649 432,388
5 whs. Dec., 1897
192,636
764,219 5,234,239 10,158,630 2,296,518
299,891
wks. Dec . 1896
extraordinary increase in traffic served in great meas 5Year
’97, 52 wks. 2,941,113 28,065,011 116,651,488 117010333 17,189,734 3,270,971
ure to conceal the unsatisfactory condition of rates on Year ’96, 52 wks. 2,521,452 19.630,850 88,902,316 107148527 17,466,501 3,497,385’
Milwaukee—
591.500 1,364,000 818,600
Dec., 1897 261.840 1,098,780
212,355’
competitive traffic. In the East, however, where the 55 wks.
87,000
973,000 1,255,600
623,000
627,750
314.380
wks. Dec., 1890
Year ’97, 52 wks. 2,206.850 9,046,628 3,621,638 10,497,600 10,639,350 1,730,400
grain traffic forms a much smaller proportion of the Year ’96, 52 wks. 3,165,740 8,8? 3,684 2,027,175 13,571,000 11,439,995 1,781,425
St. Louis—
total traffic, and where also the general community did 5 wks.
736.805
108,130 1,381.785 6,227,800
805,271
53,918
Dec., 1897
231,750
100,355
16,203
482.987 4.169.315 1.355,260
5 wks. Dec., 1890
not experience an equal degree of prosperity with the Year ’97, 52 wks. 1,325,446
693,922
11,716,834 29,588,877 11.809,623 1,603.310
24,050,756
10,728,038
1,872,360
1,352,699
12,134,675
276,217
Year ’96, 52 wks.
grain-raising sections, marks of the demoralization in Toledo—
162,789
5,441
563,467 1,043.481
40,117
5 wks. Dec., 1891
rates are plainly visible.
For example, the Lake 5 wks. Dec., 1896
25,700
33,800
766,200 1,018,300
3,557
'24,035
855,714
61,993 9,901,136 11,834,7"4 1,854,786
Year ’97, 52 wks.
429,900
883,900
24,300
4,551,900
7,602,600
63,105
Shore & Michigan Southern has only $99,055 increase Year ’96, 62 wks.
Detroit—
for the twelve months, after $822,077 loss in 1896. In 5 wks. Dec.. 1897 31,500 208.518 350,578 252,005 331,659 75,092
170,842
36,250
181,91"
218,930
255,151
5 wks. Dec., 1896
971*450.
313,375 4.052,382 2,230,714 1,955,540 1.204,884
Year ’97, 52 wks.
the case of the Pennsylvania we have the figures Year
250,876 3,029,879 1,665,507 1,970,611 1,314,512
’96, 52 wks.
Olevei
and—
as yet for only eleven months, and they show
961.552
66.452
984,048 660,^80
5 wks. Dec., 1897
51,863
173,572
“ 8335
6,219
463,947
wks. Dec., 1896
a large gain,
namely $2,836,500,
taking the 5Year
...... .
10,972
216.011 3,007,032 2,901,791 3,621,535
’97. 52 wks.
25,143
59,397 2,602,031
682,158 1,705,603
’96, 52 wks.
Eastern and ^Western lines together; but the Year
Peoria—
33.339
45.600 1,806,650 1,053 550 297.600
15.000
Dec., 1897
Pennsylvania is a large system, and this gain is 55 wks.
31,410
114,450 1,883,300 1,559.100
375,400
43,200
wks. Dec., 1896
559,800 19,814,470 lv.174,550 1.326.900
104,600'
Year ’97, 52 wks.
a recovery of only a part of the previous year’ s loss in Year ’96, 52 wks. 818,739
347,500 1,761,400 18,383,450 17,861,100 1,960,700
198,650
Duluth—
the same eleven months, which amounted to $4,913,- 5 wks.
4,750 3,304.123
351,610
148,240
235,498
714,706
Dec., 1897
6.156
26.200 2 778,945
3P9.756
243,701
154,954
wks. Dec.. 1896
000. In contrast with this, if we take the Burlington 6Year
’97, 52 wks. 4.026,210 47,979,691 2,034,644 6,777,479 5,472,464 1,983,875
398,105 4,791,778 6,660,723 1,643,878
Year ’°6 52 wks. 4,251,434 56,254,609
& Quincy as a type of a large system in the West, we Min ivolis—
27,003 11,770,050
613,150 1,252 770
5 wks. Dec., 1897
find an increase of $5,192,307 for the eléven months, 5 wks. Dec., 1896 16,645 6.643.530 151,164 1,851,020
140,676 72,888,270 3,985,916 16,304,051
*46,960
Year ’97, 52 wks.
’ 86,100
in addition to an increase of $484,933 in 1896. Only Year ’96, 52 wks. 121,632 69,044,690 1,664,62b 9,116,060 10,100 11,560
Kansas City—
396,000
1,628.500 1,537,600
$99,938 of the $5,192,307 increase in earnings oc 5 wks. Dec., 1897
474,020 1,695 500
461,800
5 wks. Dec., 1896
19,896,300 12,^25,950 3,8s3,700
Year ’97, 52 wks.
curred in the passenger revenues.
Nor are the Year
4,594,603 5,572,08? 2,603,569
’96, 52 wks.
passenger earnings of the Quincy exceptional in this lotal of all—
977,111:
Dec., 1897 991,592 28,189,428 20.856.956 18,783.671 3,917.077
respect. Indeed, the revival in trade, while adding 55 wks.
941.022 13,298,214 14,495.767 16,618,680 4.666,655
862,428
wks. Dec., 1896
Year ’97, 52 wks. 11,540,418 207,112,084 205,390,252 185889177 37,516,749 9,657,582
materially to the freight traffic of the lines, does not Year ’96, 52 wks. 12,183.835 185,519,041 147.848.077 169880187 40,774,334 6,739.015
As is usually the case, the bulk of the great increase
seem to have brought with it much if any enlargement
of the passenger traffic, and for most roads the in the grain movement is found at Chicago. For thi
passenger earnings for .1897 do not equal those for point we have compiled a separate statement and giv.
\it below. These figures differ from those in the
1896.
ANUARY
118
THE CHRONICLE.
15, 1818.J
above in that they are for the full year, while the whether gains or losses. It will be observed that;
there are only three of these latter.
others are for a period of just fifty-two weeks.
RECEIPTS AT CIIIOAQO DURING DECEMBER AND BOR TI1E TEAR.
PRINCIPAL CHANGES IN
GROSS
In creases.
Year
December.
1897.
Wheat.bush. 6,861,453
Corn...bush. 7,092,140
Oats., bush. 11.323.232
386.383
Rye., .bush.
'Barley.bush. 1,710,601
1895.
1896.
701,170
4,861,888
9,437,393
283,361
2,228,292
1896.
1895.
19,931,502
90,246.378
109,585,465
2,530,236
17,691,376
20,637,642
59,601,518
79,892,792
1,657.216
14,195,027
1897.
2,907,492 28,087,687
5,577,644 116,759.489
7,317,262 118,106,062
166,997 3,278,651
1,674,126 17,185,744
Total grain 27.373.809 17,515.104 17,643,511 283,417,633 239,884,957 175,984.095
296,915 2,947,005 2,532,041 3,005.508
183,763
432,990
Flour., bbls.
644
2,230
7,185
9,672
1,206
12
Pork. ...b bis.
Out m’ts.lbs. 19,950.314 13,114,128 18,998,857 170,038,111 160,612,721 172,004,133
Lard......lbs. 6,308.481 6,851.157 8,591,607 50,130,918 67,181,969 54,046,324
780,966 8,363,721 7,659,472 7,885,274
788,794
873,375
L ive hogsNo
Canadian Pacific.......... $3,365,194
Missouri Pacific........... 3,217,031
Illinois Central............. 2,940,108
Mexican Central......... 2,628,928
Northern Pacific......... 2,146,876
Kan. O. Pitts. & Gulf.. 1,607,242
New York Central....... 1,534,110
Chic. Rock I. & Pacific. 1,421,200
Great Northern............ 1,115,332
Baltimore & Ohio......... 1,067,670
Southern Railway........ 1,027,000
Chesapeake & O h io ....
995,075
978,732
Oregon RR. & Nav.......
Clev. Gin. Chic & St. L.
831,893
Chic. Mil. & St. Paul...
826,378
Mexican National.......
769,052
765,303
Grand T runk ................
Texas & Pacific............
674,559
Louisville & Nashville.
570,580
Rio Grange Western...
567,386
Mexican Railway.........
503,145
Nash. Chat. & St. L ....
456,015
St. Joseph & Gd. Isl’d.
433,853
Kan. C. Ft. S. & Mem..
433,765
12 M O N T H S .
In crease s.
EARNINGS FOR
Un. Pac. Den. & Gulf.
St. Louis & San Fran..
Chicago Gt. Western..
Denver & Rio Grande.
Interoceanio.............
B. <fc O. Southwestern.
Mobile & O h io .............
Ft. Worth & Den. City.
Cin. N. O. & Tex. Pac.
Wisconsin Central.......
Georgia & A labam a...
W abash..........................
Minn. St. P. & S. 8. M..
Mo. Kan. & Texas.......
Chicago & East 111.......
$445,875
418,495
415,442
399,093
317,042
265,175
297,318
291,834
287,130
270,187
253,871
242,294
237,880
227,522
225,390
Total (representing
43 roads)................$35,470,975
Decreases.
It thus appears that Chicago received 283 million
Duluth So. Sh. & A tl... $313,428
Norfolk
&
Western..
..
221,924
bushels of grain (not counting flour) in 1897, against
Total (representing
239 million bushels in 1896 and 175 million bushels in
2 roads)..............
$535,352
1895. As regards the provisions and live-stock move
PRINCIPAL CHANGES IN GROSS EARNINGS FOR 11 M O N T H S .
ments at the same point it will be noted that the pro
In crea se s;
visions receipts on the whole did not equal those of 1896, Chic. Burl. & Quincy. $5,192,307 Northern Central........ $379,781
339,020
Atch. Top. & S . F e .... 3,215,458 Leh.V.RR.andL.V.C’lî
333,244
but that, on the other hand, the deliveries of live hogs Pennsylvania t ............ 2,836,500 Oregon Short L in e ....
230,784
2,604,763 Fla. Cent. & P en in ....
Union" Pacific...............
226,621
«comprised 8,363,724 head in 1897 against 7,659,472 in Southern Pacific......... 1,755,968 Monterey&Mex. Gulf*
Erie................................. 1,547,463
1896 and 7,885,274 head in 1895. The live-stock move Chic. & North West’n. 1,068,245
Total (represent’ng
29 roads)............ $21,233,612
Duluth & Iron Range*
543,209
fÌAPPAil SAH
ment as a whole, however, did not differ much in the Oregon
Improvement*
531,038
Phil.&
R. and Coal & I. ’ $ 4 7 2 ,4 6 8
429,211
two years, as will appear from the followinng, taken Chic. St. P. Minn. & O.
* For ten months only.
from the report of the Chicago correspondent of the
t Eastern lines increased $1,701,000 and Western lines $1,135,500.
i For eleven months ending October 31.
“ Evening Post” of this city. It will no doubt be a
This list shows quite a large number of gains, run
surprise to learn that only five of the larger roads
ning
from one million to five millions. They come
brought in more car-loads of live stock in 1897 than
from
nearly
all sections of the country, though natur
in 1896.
ally the grain-carrying roads are most numerous and
DELIVERIES OF LIVE STOCK AT CHICAGO.
1896.
1895.
1894.
1897.
Car-Loads.
most conspicuous. Both the Canadian Pacific and
13,303
9,059
11.378
13,138
Atchison Topeka & Santa Fe...
16,482
15.141
17,417 the Northern Pacific take front rank for amount of
. 13,352
•Chicago & Alton ...................
63,072
. 68,827
70,947
70,859
'Chicago Burlington & Quincy,.
4.404
5,605
5.134
4,268
Chicago & East Illinois.............
The first-mentioned road has made the largest
42.398
42,445
. 47,455
42,584 gain.
'Chicago Milwaukee & St. Paul.
50,415
53,173
.
56,767
57.801
Chicago & North West ......... .
earnings
on record; the Northern Pacific, however,
27,174
26.200
. 25,998
29,890
Chicago Rhode Island & Pacific.
9,941
7,975
10.001
7,434
^Chicago & Great W estern ........
22,567
21,176
. 22,878
22,634 notwithstanding its heavy increase in 1897, falls far
Illinois Central....
11,249
14.085
. 10,417
12,969
Wabash................ .
2,730
1.983
. 2.337
2.985 behind its total for 1892, as will appear from the fol
Wisconsin Central.
6,382
8,020
6,073
. 3,437
*Other roads...
277,437
270,816
.275,662
287,052 lowing six-year comparison.
'{Total cars,
In the South the roads had the advantage of a much
^heavier cotton movement, though this was tempered
by a large decline in the price of cotton and by two
other adverse influences already mentioned, namely
the overflow of the Mississippi and the yellow fever.
A t the Southern ports the receipts for the twelve
months were 7,113,439 bales in 1897, against 6,475,263
bales in 1896 and 5,639,663 bales in 1895. For the
latter half of the year the receipts were 5,503,711 bales
in 1897, 4,937,600 bales in 1896, and 3,397,435 bales in
1895, showing an expansion hardly less noteworthy
than in the case of the grain movement in the West.
The shipments overland for the twelve months were
1,445,322 bales in 1897, 1,274,944 bales in 1896 and
1,444,364 bales in 1895.
RBOEIPTS OF COTTON AT 8 0 CITHERN PORTS IN DECEMBER AND FROM
JANUARY” 1 TO DECEMBER 31, IN 1897, 1896 AND 1895.
EARNINGS OF PACIFIC ROADS.
Year.
1897.
1896.
1895.
1894.
1893.
1892.
$
$
$
$
$
$
Cañad n Pacific. 24,046,792 20,681,598 18,941.036 18,752,168 20,962,316 21,409,350
19,778,516
24,702,490
16.731.822
19,088.647
North’n Pacific. 20 997,633 18,850,757
Rio Gr. West’n.. 2,988,279 2,400,893 2,393,423 2,103,650 2,253,973 2,583,341
Total............... 48,012 704 41,933.248 40,423.106 37,587 640 42,994,835 48,695,181
What is true of the Canadian Pacific is true also of
most of the Northwestern roads. They show, wonder
ful improvement during the last two years, but have
not yet got back to their large totals of 1892 and 1893.
An exception must be made in favor of the Great
Northern and the Minneapolis & St. Louis, which
excel their records for these earlier years. In this
comparison we cannot, of course, include roads like
the Burlington & Quincy, the Chicago & Northwest
ern, etc., which have not yet reported for Decembe j.
1897.
EARNINGS OF NORTHWESTERN LINES.
Ports.
Full Year.
December.
1897.
1896.
1895.
1897.
1896.
1695.
319,106 250,187 181,409 1,709,253 1,362,361 1,118,823
28,615
98,996 123,623 89,556
18,527
23,737
516.597 388,138 360,004 2,158,215 2,125,407 2,097,992
81,244
63,48h 34,303 317,339 267,316 205,468
62,300 28.435
15,535
16,576
7,182 100,003
216,028 147,596 117,372 1,086,359 878,555 782.196
42,252
36.818
26,764 188,861 152,371 132,264
66,030
45,4ß4 446.486 39«,131 325,337
73,683
94,791 120,263
14,256
20,748
75,999
14,104
35,735
59,778
28,218 300,945 215,638 168,533
768
813
224
233
285
1,083
118,712 130,971
59,718 600,836 718,544 334,725
235,273
45,113
3,089
4,561
19,084
46,394
Total.......................... 1.483,685 1,185 043 944,954 ?.113.439'6,475,963 5 63°.663
Galveston............. bales.
Texas City, &c.............
New Orleans...................
Mobile..............................
Florida.............................
Savannah.............. .........
Brunswick, &c..............
Charleston.......................
Port Royal, &c.............
Wilmington.....................
Washington, &c ........
Norfolk............................
Newport News, &c..........
Year.
Burl.Ced.R.Jt No.
Ohio. Gt. W est....
Ohic.Mil.& St.P.)
Mllwau.& No.. 5
Jhic. R. I. & Pac.
Duluth S.S.& Atl.
Great Northern..
Iowa Central......
Hinn.& St. Louis.
St. Paul & Duluth
1897,
1896.
1895.
1894.
1893.
1892.
$
$
$
$
*
$
4,292,163 4.450.035 4,504,332 3,748,829 4,224,753 4.354,790
5,101,931 4,686,489 4,089,573 3,658,011 4,488,766 5,210,240
\33,349613
32,178,761 31,352,383 30,608,002 28,473,386 33,860,021
< 1,710,593
16,842.898 15,421,698.15,353.826 16,333,855 19,541,523 18,701,056
2,221,375
1,811,824
1,670
987
2,065,711
1,591.115 1,904.543
20,747,424 19,632,092 18,126,388 15,167,050 16,096.394 16,170,139
1.728,221 1,725,374 1,680,959 1,667.377 1,918,910 1,924,396
3,145,949 1.994 428 1,964.574 1,777,361 1,785,264 2,022,062
1,608,569 1,537,461 1,670,534 1,442,187 1,713,760 2,130,711
T o t a l ............... 86.237.031 82.704.503 79.710,012 73 939.018 85,695.108 87.800.975
The leading Southern roads generally show im port-'
Our tables of earnings, as stated above, cover 201 ant gains not only over the years immediately pre
Toads. Of these 149 have increases over the year pre ceding, but many of them have improved even over
ceding while '52 have suffered a decrease. In the their results for 1892. Several of the minor lines re
follow ing we show all changes exceeding $200,000, p ort losses because of the yellow fever,
THE CH110N1CLE.
114
EARNINGS OF SOUTHERN GROUP.
Year.
1897. •
1896.
1895.
1894.
1893.
1892.
[V ol. LXVI.
far in excess of that for either of the two years pre
ceding. The following shows all changes in excess of
$30,000.
$
$
$
$
t
10,375,194 0,798,324 9,127,664 9,865,471 9,955,819
Ches. & Ohio.......
PRINCIPAL CHANGES IN GROSS EARNINGS IF D E C E M B E R , .
1,553,788 1,357,760 1,348,549 1,419,735 1,508,575
Georgia................
In crease s.
In creases.
1,188,877 1,130,021 1,056,216 1,125,852 1,146,507 Illinois C entral___
Kan.C.Mem.&Bir.
$47,074,
$458,877 Elgin Jol. & .Eastern..
20,263,546 19,809,198 19,405.294 20,474,633 21,859,478 Mo. P acific..............
45,997
401,472 Chicago & East 111............
Louisv. & Nashv.
St.
Louis
<
fe
San
Fran..
44,166394,129
1,286,710
1,406,126
1,466,978
Canadian
P
a
cific..
1,825,395 1,266,936
Memphis & Char..
Mo.
Kan.
&
Texas.......
43,292
309,889
Northern
P
a
cific...
3,341,684
3,331,047
3,260,991
3,492,327
3,715,761
Mobile & Ohio—
41,327
303,794 Kan. C. Ft. S. & Mem..
Great N orth ern___
5,004,914 4,871,865 4,623,908 4,727,479 5,156,574 Chic.
Nash.Chat.& St.L.
40,921
280,975 Pittsburg & Western..
R ock Isld. & P ac
11.081,866 9,662,087 10,340,452 10,032,617 9,952,882 Grand Trunk System
Norfolk & West.b
Long
Island
System..
40,658
2 6 1 ,' 81
18,666,970(18,694,149 18,018,552 18,279,413 19,300,578 Chic. Mil. & St. Paul..
38,991
246,202 Ft. Worth & Den. City.
South’n Railway.
36,470
205,328 Interoceanic.......................
M exican Central.........
70,662,376
68,468,336
73,689,105
73.181,8ir70,082.667
Total............. 76,491,237
36,4 2 4
179,700 New York Central.......
D enver & R io Grande
Minn.
St.
P.
&
S.
S.
M
..
36,3
30
164,978
b Including Scioto Valley & New England and Shenandoah Valley for all the Kan. C. Pitts. & G ulf.
36,2 ID
155,454 Ohio Southern..............
Oregon R R . & N av . .
years.
t Fourth week o f December not yet reported; taken same as last year.
36,130
B altim ore & O h io ... .
134,789 Cin. N. O. & Tex. Pao..
35,153
115,397 Norfolk & Western—
Cin. Chic. & St. L
Southwestern roads in nearly all eases fall below Clev.
3 3,695
95,555 Buff. Roch. & Pitts. . . .
Southern R a ilw a y ..
33,468
91,835 Mobile & Ohio...................
& O h io...
their best previous records, though this is not true of Chesapeake
30,461
90,532 Iowa Central......................
W a b a s h ........................
69,338
T
exas
&
P
a
cific...........
either the Missouri Kansas & Texas or the Texas & W isconsin C entral___
Total (representing
67,770
52 roads).............. $5,123,21663,050
R io Grande W estern.
Pacific.
59,592
Un. Pac. Den. & G ulf.
EARNINGS OF SOUTHWESTERN GROUP.
D ecreases.
57,914
Clev. Lorain & Wheel.
$34,781
56,701 St. Louis Southwest...
Col. Hook. Yal. & Tol.
Internat.
<
&
Gt. North’n
33,161
54,203
A la. N. O. & T ex. Pac.
1892.
1893.
1894.
1896.
1895.
1897.
Year.
51,229
L ouisville & Nashville
Total
(representing
S
48,014
$
West. N. Y . & P en n x
$
$
$
$
2 roads)................
$67 ,9 42
47,992
Den.&RloGr. 7,620,203 7,221,110 7,291,509 6,760,110 7,731,910 9.221,739 B. & O. Southwestern
Int.&Gt. No.. +3,646,045 +3,523,184 +3,278,229 3,790,368 4,088,030 4,195,895
GROSS EARNINGS A N D M ILEAG E IN DECEMBER.
K.C.F.S.& M„ 4,888,489 4,134,724 4,530,237 4,768,224 6,287,681 5,618,058
Mo. K. & Tex. 11,973,760 11,746,244 11,060,140 10,602,588 10,370,825 9.838,075
M ileage
Gross E a rn in g *
24,939,838
27,684,062
Mo.P.&Ir.Mt. 20,010,000 22,792,969 23,293,477 22,532,634
782,657 1,005,701
614,080
724,168
St. Jos.&G.I.. 1,158,021
H a m eo f R oa a
Increase or
St.L. Southw. 4,881,114 4,883,251 5,056,481 4,854,661 5,068,856 4,040,016
1896
1897.
Decrease. 1897. 1896,
Texas & Pao. 7,499,703 6,825,144 7,015,309 7,353,013 7,334,294 6,987,701
$
*
07.659,341 02,150,794 62,130.525 01,341,158 05.826.636
Total......
+4,121
310
164,800
310
168,921
Alabama Gt.8outh’ n.
+ Galveston Houston & Henderson not Included for these years
Ala.N .O .Tex.& Pac.—
+
2
3
,5
»0
156,57e
195
133,066
195
N. Orl. & No. E a s t ..
The trunk lines record only relatively moderate in
74,947
+ 20,212
142
1.42
95,159
Ala. <& V icksb.........
+10.481
67,105
189
189
77,580
Vioksb
S
hr.&
P
ac..
creases as compared with 1896 or 1895, and fall much Ann A rb or................
292
+ 16,010
2i92
103,823
119,833
21,924
230
+5,218
230
27,142
tlanta K noxv.& N o.
behind their earnings for 1893 and 1892. They have AAtlantic
+6,300
278
42,749
278
49,049
& Danville.
Baltim ore «feObio ... 2,312,544 2,177,805 + 1 3 4 .-3 9 2.095 2,095
suffered much from rate cutting.
+47.992
921
556,12c
921
604,117
Balt.& Ohio Southw.
+ 291
22
2.232
22
2.523
Birin’ ham <fe A tlantic
EARNINGS OF TRUNK LINES.
+33.695
255,334
339
340
289,079
Buff. Roch. & P ittsb..
—11.059 1,136 1.136
382,439
371,380
Burl. Ced. R . & N o...
1894.
1893.
1892.
1895.
1890.
1897.
Year.
Canadian Pacific. . . . 2,320,000 1,925,871 + 394,129 6,547 6.444
+12,515 1,523 1,459
555,72e
568,241
Central o f G eorgia..
1
$
$
$
$
*
+91,835 1,360 1,360
Chesapeake & O h io.. 1,110,653 1,018,818
B. & O. S.W i 6,454,026 6,189,451 6,44« ,039 0,232,515 6,672,845 ; 2,644,307 Ohio. <fe East Illinois.
+45,997
648
522
38«,006
435.0 >3
' 4,172,215 Ohio. Great W estern.
+ 1.506
930
930
Oh. & Miss.
416,926
415,420
537
+8,536
537
240,337
218,8 73
O.O.C.&St.L 13,843,350 13,011,463 13,970,704 12,948,141 13,789,665 14.894,075 Chic. Ind. & L ou isv ..
6,153 6,153
+246,20
(17700092 17,702,881 19,769,190 19,606,874 Chic. Mil. <te St. Paul. 2,917,080 2,570,878
G.T.of Can. 1
232
+7,425
232
70,406
Chic.
Peo.&
St.Louis.
77,831
Ch.&G.T... i 23471,172 22,705,869 ( 2,796,178 2,731,749 4,181,733 3,704,170 Ohio. R. Isl. & P a o ... 1,518,110 1,237,135 +2c0,975 3,571 3,571
j 1,001,091 1,012,584 1,112,722 1,228,414 Chic. Term. Tr. R R ..
D.G.H&M. J
+4,563
76
76
94,681
90,118
+ 13,723
581
581
L. Sh.&MS. 20,5’93,013 20,193,958 21,010,035 19,557,869 23,685,938 22,415,382 Chic. «feWest M ich ...
121,171
110,443
15,908,298
+19,538
220
12,584,013
16,178,031
220
13,821,614
13,651,420
47,452
18,630,000
66.9WC
Choc.
Okla.
<
fe
Gulf*..
M.C.&Can.S
42
+ 385
42
5,254
4,869
N.Y.C.&H.+ 45,609,139 44,075,029 44,338,887 41,797,493 46,710,572 45,590.888 Cm. G eorg. <fe P orts..
+ 36,130
336
336
304,032
340,212
Wabash.... 12,206,198 11,963,904 12,650,900 11,022,173 13,750,158 14,108,440 Cin.N.O. <&Tex. P ac.
+14,205
210
210
62.721
Clev. Canton <& S o ...
66,926
Total....... 135.507.504 13l,9s1.288 133,579.382 126 249.413 146.350.S4P 144,39 »,15j. Clev. Cin.Ch.«fe St. L .. 1,319,847 1,204,460 + 11 5 ,39 / 1,838 1,838
+15,648
352
352
150,521
166,169
P eoria <fc Eastern ..
t Includes Rome Watertown & Osidensburg for all the years.
+57,914
192
192
87,343
Clev. Lorain «feWheel.
145,757
+7,564
350
350
140,952
C olorado Midland
148,516
The other roads (apart from the trank lines) in the Col. H ock. Val.«fe Tol
H 56,701
346
346
205,930
262,631
22
22
1.600
& L a k e ......... .
1,600
Middle and Middle Western States make good com Colusa
550,300 +179,700 1,666 1,666
Denv. <feR io G rande..
730.000
+2,882
112
112
14,931
12.099
D.
Momes
<
fe
Kan.
C
...
parisons with 1896 and 1895 and also with the earlier D M oines No. & West.
15
150
+4,667
32,662
37.329
334
+ 17,651
334
92,727
Det. Gr.Rap. & W est.
110.378
years notwithstanding the coal strike seriously affected Det.
10 2
102
+ 25,s54
lu,9b2
& Lima N orth ..
36,816
588
588
+14,265
114,143
Dni.
So.
Shore
&
A
t
l..
128,408
many of them.
+47,074
197
189
129,924
82,850
Elgin Joliet <fe E a s t ..
+7,611
156
156
22,695
30,306
Evansv. <fe Indianap.
EARNINGS OF MIDDLE AND MIDDLE WESTERN ROAD8.
+ 10,076
167
167
Evansv. <&T. H a u te ..
9 1,734
89,658
+25,360
648
648
Flint <&Pere M arq...
257,029
2 3 1 ,6t9
1895.
1894.
1893.
Year.
1890.
1892.
1897.
469
469
+38,991
100,09û
Ft. Worth <& D City..
139,(86
146
146
+17,477
Ft. Worth <&R io G r..
56,555
39,078
$
*
$
9
$
9
11
—25
11
840
Gadsden
<
fe
Atl.
U
n
..
865
Ann Arbor............ 1,309,896 1,160,426 1,106,235 1,081,701 1,038,243 1,099,651 G eorgia ....................
307
+ 11,366
307
148,757
160,123
Buff. Roch. & Pitt. 8,454,364 3,337,784 3,053,142 2,733,211 3,393,157 3,204.265 Georgia <fe A labam a..
362
+ 28,692
458
84,174
112,866
285
285
+3,433
Chicago & East. 111. 4,110,125 3,884,735 3,873,788 3,424,339 4,487,880 4,198,032 Ga. South. <fc F lorida
76,239
79,672
436
43b
+24,497
168,194
143,697
Ohio. & West Mich. 1,639,824 1,629,043 1,724,044 1,696,514 1,892,710 2,032,640 Gr. Rapids <&Indiana.
92
92
+ 1,527
3 ,184
Cin. R ich. <&Ft. W ..
33,711
Col. H. V. & T ol... 2,533,605 2,480,924 2,676,421 2,688,700 3,270,362 8,372,586
26
26
98
3,364
2,366
Traverse
C
ity
..
.
Det.Gr.Rap.&W es. 1,308,918 1,185,202 1,149,651 1,098,723 1,205,093 1,265,572
37
-1 ,6 6 5
37
Musk. Gr.R.& Ind.
10,236
8,57
Evansv.& Terre H. 1,104,155 1,065.270 1,095,961 1,043,502 1,300,862 1,300,185 Gr. Trunk o f C an ... ) I
Flint & P. Marq.... 2,789,812 2,594,621 <2,505,699 2,392,726 2,725,238 2,886,715
Chie. <&Gr. T r’k .. > 2,186 523 1,924,742 +261,781 4,036 4,036
Gr.Rap.&lnd....... 2,533,832 2,460,030 2,682,832 2,464,958 2,807,288 8,253,875
Det. Gr.Hav.«fe M . >
53
53
+ 1,92110,600
Cin. Sag. <fc M ack...
12,529
Illinois Central+... 24,723,899 21,783,291 21,814,347 19,636,2&0 23,594,944 20,842,368
T17
+2,745
117
J0,437
7,692
Tol. Sag. & Musk..
Lake Erie & West. 8,438,743 3,314,273 3,619,101 3,345,403 3,512,021 3,558,482
3,780 3,720
+255,797
1,273,46d
9t.
No.—S.
P.
M.
<
fr
M.
1,529,266
Long Island.......... 4.500,732 4,308,135 4,419,328 4,423,338 4,592,702 4,690,905
72
72
+ 15 ,8 3 137,640
E astern o f M inu..
153,47«
Lou.Evans.& St.L. 1,457,811 1,491,247 1,505,435 1,401,846 1,685,604 1,554,154
256
25b
4-3 ¿,158
198,439
166,2 s l
M ontana C entral..
3,723,183
65
8,737,118 3,901,140 3,473,761 G u lf Beaum’ t«fe K. C.
65
+ 4,605
N. Y. Ont. & West. 3,938.082 3,858.813
10,03
14,636
62
62
+2,272
7,400
5,128
..I
Plttsb’g & West’n. 2,979,115 2,840,348 3,020,737 2,511,723 2,613,626 2,306,479 G ulf <fc Chicago
25
25
3 ,30 j
3,300
Tol. & Ohio Cent.. 1,721,244 1,797,600 1,843,447 1,808,238 1,952,092 2,000,723 H oosac Tun. & Wilm
3,130
3,8u8
+458,877
2,096,51b
2,555,393
Illinois
C
entralf.........
991,268
947,205
893,621
975,459
940,906
Tol. Peo. & W est..
996,261 Internat’l <fe Gt. No i
775
775
—33,161
414,278
3
8
1
,U
7
Tol. St. L. & K. C.. 2,269,164 2,102,895 1,347,247 1.059,563 1,764,316 2,228,563 Interoceanic (M ex.).a
531
+36,470
531
183,430
219,900
W est.N .Y .& Pa.. 3,135,960 3,036,651 3,312.977 3,105,942 3,494,008 3,530,689 Iow a Central..............
509
509
+30,461
132,13'
162,599
172
1,421,916
172
+1,965
1,297,950
1,245,711
1,531,765
43,262
1,197.010
45,227
1,452,000 Kanawha <&M ich ___
Wheel. &L. Erie..
975
975
+ 4 / ,327
340,34 :
381,669
Kan.C. Ft.S. «feMem .
Total............... 71,082,903 66,666,443 67,295,792 62,352,717 71,739,110 69.307,808 Ran. C. Mem. <fc Bir.
276
276
+20,933
1 «8,683
li9 ,6 1 6
153
—2,844
174
42,107
39,263
K an .C ity& N . W. ...
194
194
+9,908
25,68 <
15,779
+ Includes the operations o f the St. Louis Alton & Terre Haute for all Ran. itv <fe Om aha..
814
596
+164,978
265.174
100,196
Ran.C.Pittsb.
«feGulf.
the years but the Chesapeake Ohio & Southwestern (beginning with July),
+6,462
35
35
29,238
35,700
Chicago & Texas (beginning with October), and Ohio Valley (beginning with Ran. City 8ub Belt
+2,229
148
148
32,968
Reokuk <&W estern ...
3 1,197
August) for 1897 only.
725
725
314.174
287,026
+27,148
Lake Erie & Western.
For the month of December the improvement oVer Lehigh
+ 4 ,5 4 «
90
90
32,019
<fe Hud. River.
36,608
375
375
291,694
+ 40,658
251,036
Long
Island
System
.
last year is $5,757,109. or 12-37 per cent. There are Los Angeles Term’l .
+2,552
50
50
7,384
4,832
372
110,40
+ 13,887
372
124,294
Louisv.Evans.&St.L.
138 roads, and the improvement extends to all but j Louisv.Hend
+ 7,33 0
166
16 6
45,286
37,956
& S t.L ..
+51,229 2,985 2.975
Louisv. <fe N ash ville.. 1,906,200 1,854,971
twelve of them. The grain movement was of excep - 1 Macon
+1,178 „ 97
6,601
5,423
97
&Birm ing’m ..
44
—1,2 35
44
5,925
4,640
tional dimensions, and the cotton movement was also I M anistiaue................. >
$
11,370,269
1.610,959
1,209,317
20,834,126
+1,438,646
4,013,079
5,460,929
10,859,942
19,693,970
M ileage
Bros» Earnings.
R m e o f Road.
1897.
Memp. & Charlest’ n*
Mexican Central.......
Mexican National..
Mexican Railway.«..
Mexican Southern*..
Minn. & St. Louis___
Minn. St.P.&S.Ste.M,
Mo. Kans. &Tex.sys..
Mo. Pac. & Iron M t..
Central Branch—
Mobile & Birm’gham.
MoDile & Ohio............
Nash. Chat. & St. L ..
Is. V.Cen. & Hud. Riv..
N. Y.O nt. & W e s t....
Norfolk <fc W estern...
Northern Pacific____
Ohio River...................
Ohio River & L. Erie.
Ohio River & Char...
Ohio Southern............
Omaha Kan. C. & E..
Oregon RR. & N a v ...
Peo. Deo. & Evansv..
Pittsb. Bess. & L. E .
Pittsb. Lisb. & West.
Pittsb. & Western___
Pittsb. Clev. & Tol.
Pittsb. Pa. & Fair..
Rio Grande South’n.
Rio Grande Western.
St. Jos. & Gr. Island..
St. L. Chic. & St, Paul
St. L. Kennett & S o ..
St. Louis & San F r ...
Bt. Louis Southwes’n.
St. Paul & Duluth___
San Fran. & No.Pac..
Sher. Shrev.& South..
Silverton......................
So. Haven & East’n.
Southern Railway...
Texas Central............
Texas & Pacific..........
Tol. & Ohio Central..
Tol. Peoria & West’ n.
Tol. St. L. & K. City .
Un.Pac. Den. & Gulf.
Wabash........................
West V a. Cen & Pitts.
West. N. Y. & Penn..
Wheel. & Lake Erie..
Wisconsin Central...
$
102,345
1,216,236
502,323
303,000
37,425
163,744
323,146
1,18 4,358
2,450.00t>
97,000
51,153
400,600
458,379
3,674,592
296,146
946,7o9
1,747,764
81,871
2,66 l
16,732
78,606
64,993
556,139
92,306
75.595
4,891
131,765
72,591
28.493
41,004
264,500
107,40
3 3 /0 0
6,268
519,558
491,800
118,433
59,324
37,661
5,500
1,653
1,795,345
43,192
886,753
170,352
88,347
192,990
332,184
1,055,905
98.306
274,200
136,923
372,159
1896.
Increase or
Decrease. 1897.
$
91,320
1,010,908
489,496
284,500
31,985
164,424
286,816
1,141,066
2,061,691
83.837
37.479
367,132
433,899
3,638.168
278.715
911,556
1,437,875
76.073
2,055
16,060
42,387
55,404
400,685
98,469
49,555
4.308
118,048
54,612
19,268
31,811
201,450
83,545
25,500
6.580
475,392
526.581
107,405
51,181
42,102
3,843
1.9 3
1,693,790
32,037
817,415
155,189
78,326
183,19 *
272,592
965,373
93,337
2 26,186
1 *7,6 14
301,38 1
$
+11,025
+205,323
+ 13,327
+ 18,500
+5,440
—880
+ 36,330
+43,292
+388,309
+ 13,163
+ 13,674
+ 33,438
+24,481
+ 36,424
+ 19,431
+ 35,153
+ 309,889
+5,798
+ 60 9
+ 672
+ 36,219
+9,589
+155,454
—3,163
+ 26,040
+ 583
+ 13,717
+ 17,979
+9,225
+9,193
+63,050
+ 23,85*
+ 7,500
—312
+44,16
—3 4,7 8 1
+ 11,078
+8,143
—4,441
+1,657
—265
+ 95,555
+11,155
+ 69,338
+ 15,163
+8,021
+9,797
+ 5 9 , *92
+90,532
+4,919
+ 48.0H
+ 29,289
+67,770
Name of Road.
1896.
330
1,956
1,219
321
227
370
1,189
2,197
4,936
388
149
687
905
2,395
481
1,570
4,351
224
36
222
236
314
1,065
331|
183
25
227
77
61
180
550
251
111
20
1,162
1,223
244
165
153,
22
37
4,827
176
1,499
371
248
451
974
1,936
152
651
247
937
330
1,861
1,219
321
227
370
1,189
2,197
4,936
388
149
687
905
2,395
477
1,570
4,367
224
36
211
266
260
1 ,"6 5
331
183
25
227
77
61
180
550
251
111
20
1.329.
1,22a
248
165
153
¿'l
37
4,777
176
1,499
371
248
451
974
1,936
152
651
247
937
Total (138 roads). . 52.299,577 46.542,468 +5,757.109 103,672 102,281
* For three weeks only.
t Includes Chesapeake Ohio <fe Southwestern, Ohio Valley and Chi
cago & Texas for 1897 only.
J Earnings of Galv. H *us. <fc Henderson are excluded for both years.
a Four weeks to December 25.
GROSS EARNINGS FROM JANUARY 1 TO DECEMBER 31.
N tm e o f Road.
Alabama Gt. Southern..
Ala. N. O. & Tex. Pac.—
N. O. & Northeast’n ...
Alabama & Vicksb’g ..
Vicksburg Shr. & Pac
Ann A rb o r......................
Atlan. Knox. & North..
Atlantic & D an ville.....
1897.
$
1,643,270
1,321,152
623,685
560,613
1,3)9.896
290,517
53»,748
26,003,613
6,454,626
Balt. & O. Southwest...
25,874
Birmingnam & Atlantic
3,454,361
Buff. Roch. & Pittsburg.
4,292,163
Burl. Ced Rap. & N o ...
24,046,79
5,412,336
11.370,239
4.110,125
Ohio. & East’n Illinois..
5.101,931
Chic. Great Western ...
Ohio. Milw. & St. Paul.. 32,178,761
833,300
Ohio. Peo. & St. Louis..
Chic. Rock Is’. & P ac... 16,842,898
1,639,824
Chic. & West Michigan.
1,207,196
Choc. Okla. G Gulf*___
3,65 8,790
Gin. N.O. & Texas Pac.
666.125
Cleveland Canton & So..
Olev. Cin. Chic. & St. L .. 13,8 43,35
1,750,071
1, *84,954
Cleve. Lorain & Wheel..
1,731,331
2,533,605
Col. Hock. Val. & T o l...
23,055
Colusa & Lake................
7,620,203
Denv. & Rio Grande___
430,480
De s Moines No & W est..
162,105
Des Moines & Kan.City.
1,303,918
Det. Gr. RaD. & W est...
1,591,115
Dul. So. Shore & Atl —
1,202,541
Elgin Joliet & Eastern.
291,09 7
Evansv. & Indianapolis.
1,104,755
Evansv. & Terre Haute.
2,789,812
Flint & Pere Marquette.
1,302,713
Ft. Worth & Denv. City.
412,259
Ft. Worth & Rio Gr’de..
8.636
Gaasden & Atalla U n. ..
1,610,959
Georgia.............................
1,121,2 *3
Georgia & Alabama.......
873,861
Ga. South’n & Florida..
1,974,038
Gr. Rauids & Indiana...
404,05
*
Cin. Rich.& Ft.Wayn6.
39,373
Traverse City...............
116,374
Mus. Gr. R. & Ind.......
Grand Trunk............ .)
Ohio. & Gr. Trunk. . , J- 23,471,172
Det. Gr. H. Milw.. )
123,604
Cin. 8ag. & M ack..__
Toledo Sag & Musk.
111,509
Great Nor. St. P. M.<fc M. 16,691,071
1,970,627
Eastern of Minnesota.
115
THE CHRONICLE
J anuary 15, 1898. J
1896.
#
1,540,073
Increase.
$
101,197
.... ...
1,324.9 >1
608.578
15,107
575,903
1,160,42«
149.4" 0
281,02 >
9,522
.... ...
545,388
24,935,973 1,067,670
6,189,451
215,175
23,765
2,109
116,530
3,337,784
4,4*0,035
20,681,598 3,365,194
89.018
5.323,268
995,07
10.375,194
3,884.73*
225,390
4'5,44-2
4,686.489
826,378
31,352,383
879,615
15.421,698 1.421,200
1,62 *,043
10,781
176.708
1,030,488
3,971,650
287,133
............
704,0 78
831,893
13.011.463
1.703,544
46,527
1,233,073
95,881
1,324,037
2,480,924
52,6 <1
3.464
19,591
399.093
7,221,110
442,254
43,530
118,575
1,185,202
123,716
1,904,543
.... ........
1,278.1 03
292,373
39,485
1,065,270
195,191
2,594,621
291.834
1,010,879
330,194
82,065
10,604
52.171
1,553,788
233,871
868,42
8 41.855
74,594
1,899,444
394,410
9,640
44,552
.......
121,624
22,705,369
765,303
127.108
83.829
15,771,859
1,933,745
27.680
919,212
36,882
Decrease,
$
749
15,290
.. . . ...
____ . . .
5,640
. . . . ...
157,872
Great Northern—(Con.)
Montana Central.........
Gulf Beaumont & K. C
Gulf & Chicago ...........
Hoosac Tun. & W ilm ...
Illinois Central.!............
Int. & Great Northern.,
tnteroceanio (M ex.'J...
Iowa Central......... ....
Kanawha & M ichigan..
Kansas C. Ft. S.&Mem..
Kan. City Mem. & Bir..
Kansas City & N. W .......
Kansas City <&Omaha .
Kan. City Pitts. & Gulf.
Kansas City Sub. Belt..
Keokuk & Western.......
Lake Erie & W estern...
Lake Shore & Mich. So.
Lehigh & Hudson River
Long Island System...
Los Angeles Ter n .........
Loutsv. Evansv. &8t. L..
Louisv. Hend. & St. L ..
Louisville & Nashville..
Macon & Birmingham..
Manistiaue............ - ........
Memphis & Charleston*
Mexican Central............
Mexican N ational...........
Mexican Railway!.........
Mexican Southern*.......
Mich. Cent. & Can. So ..
Minneapolis & St. Louis
Minn. St.P .& S. 8te. M.
Missouri K. & Tex. sys..
Mo. Pacific & Iron M t..
Central Branch...........
Mobile & Birmingham..
Mobile & Ohio.................
■Nash. Chatt. & St. L . . .
Si. Y. Cept. & Hud. Riv..
N.Y. Ontario & West’n ..
Norfolk & Western.........
Northern Pacific......... .
Ohio River............. .........
Ohio Riv. & Charleston.
Ohio Southern................
Omaha Kan. C.&East..
Oregon Ry. & Nav’ n . . . .
Peoria Deo. & Evansv..
Pittsb. Bess. & L. Erie..
Pitts. Lisb. & W e s t .......
Pittsburg & W estern....
Pittsb. Cleve. & Tol....
Pittsb. Paines. & F’pt
Rio Grande Southern...
Rio Grande Western----3t. Jos. & Grand Island.
St.LouisChte. & St.Paul.
St. Louis & San Frau..
3t. Louis Southwestern.
3t. Paul & Duluth...........
3an Fran.&North. Pac.
3herman Shreve.&So..
South Haven & E tst’n
Southern Railway.........
Texas Central................
Texas & Pacific.............
Toledo & Ohio Central..
Toledo Peoria & West’n.
Tol. St. L. <& Kan. City..
Union Pac. Den. & Gulf
Wabash.............................
WestVa.Cent.& Pittsb.
West. N. Y. <& Pa............
Wheeling & Lake E rie..
Wisconsin Central..........
1897.
1896.
$
1.926.488
97,316
47,860
5r>,526
21,783,291
3.523,184
2,230,368
1,725,374
467,966
4,434,72»
1,188,377
297,141
123,187
809,021
340.410
393,143
3,344.273
20,193,958
390,851
4.303.135
83,379
1,491,247
453,946
20,263,546
61,981
116,564
1,274,315
10,208,017
5,215,253
3.202,609
532,779
13.321,614
1.994,428
3,679,811
11,746.244
22.011,960
781.009
338,769
3,715,761
5.004.914
44,075,029
3,853,813
11,081,863
18,850,757
968,671
184,579
701,228
603,327
4,640,436
879,054
639,512
41,994
47,54
1,704,019
761,578
374,751
448,073
2,400,893
724,168
1,158, >2
297,847
6.039,591
4,883,251
1,537,461
744,691
314,944
27,736
18,666,970
292,221
6.825,144
1,797,6*0
947,205
2,162.395
3,101,710
12,206,Id* 11,963,90»
1,162,612
l.is1:
3,036,651
3 ,1 3 ',9 6
1,297,959
1,197,01
4,259,077
S
2,085,7
132.714
52,105
54,231
24,723,399
3,045.045
2 ,59 7 ,4'0
1,728,221
532,675
4.838,489
1,209,31
362,553
24 2,855
2,416,263
496.134
415.852
3.438.743
20,293,013
387,826
4,500.732
93,248
1,457,811
510,225
20,834,126
67.079
110,360
1,387,566
12,336,945
5,9-4,305
3,705,754
661,751
13,630,000
2,145,949
3,917,694
11,973,766
24,88 >,000
1,125,000
3 23 ,t26
Increase.
$
159,238
35,393
4,245
3,70*
2,940,108
121,361
317,042
2,847
64,709
433,765
20,440
65,412
3 19,668
1.607,242
155,724
22,709
94,470
99,035
..........
192,597
9,861
..........|
56.2771
570.580
5,09)
113.251
2,628,928
769,052
503.145
128,972
151.521
237,830
227,522
2,373.040
343,991
..
297,318
456,015
1,534,110
74,869
..........
2,116,876
261
10,08«
9»,283
978,732
39.363
3,031
3,547
12,457
133,745
........
.......
567,386
433,853
10,461
418,495
»63
71,108
60,969
13,603
1,027,000
51,026
671,559
106,269
445,87-^
212,294
............
99,309
Deer, ase
....... . . .
........
.......
........
........
.........
.........
........
3,025.
........
33,436-
6,204........
191,614
. . . . ....
10,646........
.........
........
22 t,924*
962*.
.......... .
. ...
.........
. ... . . . .
7,435
60,867
............
. . . . .....
980
...» —
76.356
6,299.............
....
25,059
100,934
270,187
Total (133 roads) — 602,236,028 564.516,909 39,244.270 1,525,151
Net increase...................
....................... [37,719,119
............
* For three weeks only in December.
t To December 25.
t Cnpsapeake Ohio & Southwestern included beginning with July,
Ohio Valley beginning August and Chicago & Texas beginning Octo
ber, but for 1897 only.
ROADS REPORTING FOR ELEVEN MONTHS.
.. . . ....
....
46 3 ,5
__ ___ _
___ __ _
....... .
37,953
89,706
. . . . ... .
....
11,774
........
.............
313,428
75,562
1,276
........
............
........
1,918
........
. 7,994
5.179
5,253
......... .
3,504
........
.............
Jan. 1 to Nov. 30.
A d iron d a ck ........... .......
Alabama M idland*.........
Allegheny a lle y ............
Arkansas M idland..........
Atch. Top. & S F e..........
Atlanta & W est P o in t..
Bath e Hamm onds port*
B ru osv ick <s W estern*.
Buffalo & Susquehanna.
Carolina M idland...........
Central o f New Jersey .
Charles’ o h & Savannah*
Clro. Bu-1 & Q :in cy . . .
Chicago North »Vestern.
Chic. St. Paul M. <&Om
Crystal . . ........... .........
Cumberland V a lle y .......
Detroit & M ackinac ...
Duluth & I 'o n Range*..
Erie ............................... .
EurekaSpriDgs*. . . . . . . . .
F itc h b u r g ........................
Fla. Central & Pentn . . .
G eorgia Caro. & N orth..
Indiana His. & I o w a ___
Iron R a ilw a y . . . . ______
Jackson Tam pa & K. W
Lehigh Valley R R t _ .. .
Lehigh Valley Ooalt. ...
L exiogton & E a stern ...
Mexican N orth ern .. ..
M onterey & M ex. Gulf.*
Nevada Central*.............
N. Y . Susq. & W estern..
N ortheast’ n o f Georgia*
1897.
1896.
Increase.
$
$
$
5,821
134,636
178,815
46,723
521,363
563,016
2,142,287 182.660
2,324,1447
84,0 9
24,731
103,890
31,250,7 tO 23,035,252 3,215,458
28,348
479,2-16
507,5 64
29,466
29,200
503,36
479,0 48
73,657
493,059
571,716
....
54,232
55.366
810
11,634,35*
11,635,16
466,2 27
4 ',990
507.217
36,413,710 31,221,403 5,192,307
30,798,960 29,730,715 1,068,24*
7,925,447
7,496,236 429,211
9,745
2,65 9
12,4'H
756,002
1,327
7 57.32«
57,764
376,u5 1
434,617
1,920,193 543,209
2,463,402
30.343,777 28,79o,314 !,547.463
2,334
50,997
53,331
6,700,874
6,686,991
230,784
2,166,372
1,935,588
771,146
44,091
815,237
5,510
682,0 9
087,*9a
39,880
... .
3 \256
......... .
28 2.2-0
273,855
............
17,39«.420 17,567,846
15,127,078 14,618,63 2 5 '’8.443
178,250
10,521
188,771
662,00 3
537,177
9 ¡5,179 226,621
1,161,300
29,737
3,573
33,310
2,037,753
2,036,279
52,044
42
52,036
Decrease.
$
.... ...
266.
24,318*
1,134
.........
......... . .
.............
.... ...
........
13,883.... ...
4,624
8,425169,426124,831
. . . . ___
31,474
.............
Ilf,
THE CHRONICLE.
Jan. 1 to Nov. 30—
1897.
1896.
Increase
Decrease.
$
379,781
531,03*
333,214
1,701,00*'
1,135,500
10,96*
70,709
$
$ ’
$
5,766,482
6,146,263
2,720.562
3,251,600
5,438,526
5,105.282
Oregon Short L in e ....
58,605,272 56,904,272
34,135,500 33.000.OC0
West. Lines.
609,938
519,901
Petersburg....
19,365,336 19,295,127
20,423,545 20,966,722
Coal & Iron Co .
632,291
6 6.884
Phila. Bead. & N. E ng..
.........
8,205.918
8,197,246
Phila. Wilin. & Balt
1,035
642,464
€43,499
Bichmond Fred. & Pot..
313,402
309,179
Richmond & Petersb’g ..
1,899,815
1,861,431
San Ant.. & Aran. Pass.
2,822,56»
2,814,771
Sav. Fla. & Western*...
291
161.819
161,528
Silver Sp’gs Ocala & G.*
48,06*
253,622
205 562
Sioux City & Northern.'.
Southern Pacific (6 r’ds) 46,077,811 44,321.843 1,755,968
356,995 161,683
518,678
Spokane Fa'ls & Norih *
33,562
33,896
Stony Clove & Cats.Mts
Union Pacific By.(3 r’ds) 17,692,296 15,087,533 2,604,763
211,262
182,729
Waco & Northwestern *
2,402,102
2,387,366
West Jersey & Seashore
3,033
326,826
329,859
West Yir. & Pittsburg*.
7,219
532,151
539,370
Western <i Alabama . .
80,668
84,750
WrightsvUle & Tennille
63,286
Ì,Ì 0 9
64,395
York Southern............... .
Northern Central.
435,266,490 414,080,848
Net inorease (5'12 p. c.).
........
543.177
25.407
8,672
4,223
3 »,3 4
7,797
........
4,667
____. . .
28,533
14,736
....
4,082
22,243,701 1,058,059
2 1 185*642
N o t e . - A n asterisk (*) affixed to the name of a road indicates that
figures have been furnished only for the ten months to October 31.
t For eleven months to October 31.
F A IL U R E S
BY
BRANCHES
OF
TRADE.
We take from Dun’s Review the following statement
showing the failures in the United States by branches of
trade for the twelve months ending December 81 in each of
the last three years.
FAILURES B Y BRANCHES OF BUSINESS.
Calendar Year.
Manufacturers.
Iron, foundries and nails.
Machinery and tools.......
Wool’ns.c’rp’ts&knitgoods
Cottons, lace and hosiery..
Lumb’r,carp’nt’rs& coop’rs
Clothing and millinery......
Hats, gloves and furs.......
Chemicals, drugs & paints.
Printing and engraving....
Milling and bakers...... .
Leather, shoes & harness
Liquors and tobacco.........
Glass, earthenware & brick
All oth er.........................
1897.
No. Liabilities.
1896.
1895.
No, Inabilities. No. Liabilities.
$
$
108 5,945,834
114 5,071,160
139 6,753.385
177 4.714,317
39 1.491,f60
85 8.364, !98
67 2,649.339
59 9.800,716
493 16.314 532
388 7.404.090
269 2,482,646
354 4,598.218
55 1.091.602
59
701,654
78
820.077
102 2,653,116
214 3,630.445
182 3,215,839
150 2,8 9,476
1*5 4.021.012
179 3,624,740
180 4,527,785
151 080,440
15- 8,286.328
50 2,055.595
71 1.985.207
866 18,372,192 1.192 29,542,136
Total manufacturing... 2,776 67,865,088 3,418 98,463,851
Traders.
General stores.................. 1.550 9,230,72- 1,710
Groceries, meats and fish.. 2,256 7,731.450 2,395
428 2,8!8 765
387
Hotels and restaurants....
942 5,113,06*
975
Liquors and tobacco........
845 7,3] 8 526
90*
Clothing and furnishing...
675 10,053.440
818
Dry goods and carpets. ...
£72
532 4,5*4,784
Shoes, rubbers and trunks.
329
333 2.981,179
Furniture and crockery...
618
489 4,923,343
Hardware, stoves & tools.
517 2,38* 3*1
571
Drugs and paints...............
213 2,707 013 294
Jewelry and clocks............
1(6 1,261,691
164
Books and papers.............
77
6tí
6< 6,664
Hats, furs and gloves.......
All other............................ 1,292 12,786,853 1,541
12.401.826
10.810.193
3,190,199
6,427 830
11,7*6,981
18.730,995
7,559.849
8,880.691
5,131,504
3,121,052
3,600,276
1,611.090
9U9.209
19,874,925
prices in the particular criticised is entirely correct. There
a sale of Erie 2d extended 5s in December and the price
was 1163^. It occurred on the 3d of the month. The sale
does not appear in the Stock Exchange list for that day, be
cause, through a mistake of the printer, it was reported as a
sale of fir s t extended 5s. In our tables this typographical
blunder has not been repeated, but the sale reported in the
right way.
was
D E B T STATEM ENT DECEMBER SI 1897.
The following statement of the public debt of the
United States on December 31 1897 is made up from
official figures issued on that day. Lower down we
give an interesting exhibit of the bonds issued in aid
of the Pacific Railroads, and the Treasury cash hold
ings, all of the same date.
INTEREST-BEARING DEBT DECEMBER 31, 1897.
Interest
Amount
■----- —Amount outstanding.
payable.
issued.
Registered.
Coupon.
Total.
$
f
$
4kfe.Fund. loan,1891,) <->
250.000.
000
25,364,500
.............
25,364,500
Continued at 2 p.e. i
740,902,850 490,584,600 69,056,900 659.641,500
*s. Funded loan, 1907. .0.— J.
40,012,750
Is, Refund’g certiflc’s.G.— J.
44.220
5s, Loan of 1904 ...... Q.— F.
100.000.000 63,422,850 36,577,150 100,000,009
4s. Loan o f 1925......... Q.— F.
162,315,400 105,699,950 56,615.450 162,315,400
Total, excluding Pac.
RR Bonds........................ 1,293,231,000 685.071,900 162,249.500 847.365.620
N o t e -The denominations o f bonds are as follows . Two percents (registered
only). $50, $100, $5o0, $1,000, *5,000, «10,000, $20,000. $50,ooo; 4s of 1907 regis
tered, $50, $100, $500, *1.0i»0, $5 ,000, $10,000, $20,0><0, $50,000. coupon, *50, $100,
Title of Loan—
DEBT ON WHICH INTEREST HAS CEASED SINCE MATURITY.
November 30.
Der ember 31.
Funded Loan o f 1891, matured September 2,1891.. $150,450 0 '
$149,4 50 00
Old debt matured prior and subsequentto J a n .l,’6L 1,180,830 26
1,>80,820 26
Debt on which interest has ceased...................... $1,331,280 26 $1,330,270 26
DEBT BEARING NO INTEREST.
United States notes..................................
$346,681,016 00
Old demand notes................................................................................
54,347 60
National Bank notes—Redemption account..................................
32,268,146 00
Fractional currency......................................... ...........$15,262,871 14
Less amount estimated as lost or destroyed............ 8,375.934 00
------------------6,886,937 14
$
209 4,114,284
83 3,366,025
36 2.29>-,826
48 1,316.276
Aggregate of debt bearing no Interest..............
$385,890,446 6 4
2*9 6.094.275
RECAPITULATION.
305 • 4,743.066
69 1,903,063
December 31.
November 30.
Increase or
108 1,70 *,023
1897.
1897.
Decrease.
113 1,790.837
Classification of Debt
$
$
$
136 1,*66,635 Interest bearing debt........ 847,385,620 00
847,365.620 00
145 1.702.986 Debt, interest ceased.........
1,331,280 26
l,330,-<;70 26
Dec.l,0l6*00
141 7,091,841 Debt bearing no interest... 386,890,446 64 381,193,125 14
Inc.4,697,321 50
68 1,o72,272
878 34,302,674
Total gross debt............1.234,586.336 90 1.229.899,025 40
Inc. 4,696,311 50
Cash balance in Treasury.. 236,474,769 01
220,663,559 84
Inc. 14,-11.209 17
2,835 73,920,073
Total net debt............... 999,111,567 89 1 009,226.465 56 Deo. 10.114.897 67
Tbe foregoing figures show a gross debt on December 31,
1,669 13,247,339
2.1-8 8,144 909 1897 (interest-bearing and non interest-bearing) of $1,234, 349 3,532,782
903 6," 13,949 586,336 90 and a net debt (gross debt less net cash in the
947 9,750,400 Treasury) of $999,111,567 89.
657 12,289.709
Pacifio Railroad bonds are never included in the official
561 4,083,1-4
178 2,076,534
498 4 017,327 total of the Government debt. The status of these obligations
442 3,015,808 to-day is as below. Methods of book-keeping make the o f
239 2,506,672 ficial reoord unintelligible to most readers, and hence we
1 5 1,308,964
87 1,454.73-1 have brought together in our compilation the leading facts
1.468 21,314.109 relating to the subject.
Total trading... .. .... 10,294 74,499,908 11,352 109.046.820 10,381 £2,706.422
281 11,967,076 318 18,586,363
Brokers and transporters.
181 6,569,565
13,351 154,332.071 15.088 226.096,834 13,197 173,198,060
Banking.
1 1 28,249,700
198 50,718,» >5 1S2 20,710,210
N o t e .—Iron, woolens and cottons include all the branches ot tnusemanu,
factures; machinery includes implements and tools; lumber includes sawplaning, sash and door mills, carpenters and coopers; clothing includes millinery
and furnishings; hats include furs and gloves; chemicals include drugs, fertili
sers, paints and oils; printing and books include engraving and maps; milling
includes baking; leather and shoes include makers o f harness, saddlery, trunks
and rubber goods; liquors include tobacco, wines, brewers and beer; glass in
cludes earthenware, pottery, brick, lime and cement; groceries include meats
and fish; hotels include restaurants; drygoods include carpets and curtains;
furniture includes crockery; hardware includes stoves and tools; and jewelry
includes clocks and watches. Brokers include all real estate, note, insurance
or produce dealers whose main business is not the handling of actual products,
with mortgage and other loan concerns, and transporters include all except in
corporated railway companies
NOT A N ERROR.
The following written on a postal car reached us last week ’
N ew Y ork , January 5, 1898.
E ditor F inancial C hronicle :
In your table in last Saturday’s Chronicle of Range of
Railroad Bonds for the year 1897 you state that last Decem
ber the lowest and highest price for Erie 2d extended 5 per
cent bonds was 116J£,
I beg to state that there were no sales on the New York
York Stock Exchange since October, 1897, when they sold at
119, and that since then about 119^ to 120 was bid, without
sales. Please have this grave error corrected and oblige
Subscriber.
As no name is attached to the foregoing, we should take no
notice of it except that possibly others may be laboring under
the same misapprehension as this anonymous correspondent.
Such misapprehension might be encouraged by the fact
that current quotations are actually very close to the
figures mentioned by our critic, namely 119%@120, a
sale at auction this week having been made at 119^.
It seemsJdesirable to point out therefore that or? "ecord of
[VOL, LXTI,
BONDS ISSUED IN AID OF
,— Bonds issued andaccumulated i/nt.
Name
Principal. Interest.
of Railway.
$
$
Central Pacific....25,885,120 35,852,719
Kansas Pacific.... 6,303,000 6,582,"S*
Union Pacific....... 27,236,612 30,830.182
Cent. Br. U. P ...... 1,600,000 2,161,934
Western Pacific... 1,970,560 3,304,552
Sioux City & Pac.. 1,628,320 2,563,650
PACIFIC RAILROADS.
-Bonds paid, or date of maturity.Already
Due Jan.
Due Jan.
paid.
1,1898.
1,1899.
6.074.000
4.880.000
8.160.000
1,280,000
320,000
10,614,120
1,423,000
15,919,512
320,000
1,628,320
$
9,197,000
3,Ì57,bÓÓ
1,650,560
Total............... 64,623,512 81,295,121
20,714,000
29,904.952 14,004,660
T h e cash hold ings o f th e G o v e rn m e n t as th e item s stood
D ecem ber 31 w e take fro m th e T reasury sta te m e n t o f th a t
date. The n e t cash balance giv e n below is th e sam e as d e
d ucted above in rea ch in g th e n e t d eb t.
CASH IN THE TREASURY.
Gold-Coin.............................................................. $151,910.176 27
Bars............................................................. 45,559.059 61-$197,469,235 88
Silver—Dollars....................................................... 394,837,019 00
Subsidiary coin................................................... 10,67o,899 23
Bars.......... ........................................................... 102.284. <35 9 4 - 507,291,684 17
Paper—United States notes.................................. 84.200,089 00
Treasury notes of 1890......................................
2,904,344 00
Gold certificates....... ...................................... .
1.570,460 00
Sliver certificates................................................ 11,229.912 00
Certificates of deposit (Act June 8, 1872).........
1.240,000 00
National bank notes............................................
5,186,886 49— 108,331,691 49
Other—Bonds, Interest and coupons paid, await
ing reimbursement..........................................
29.287 91
Minor coin and fractional currency.....................
1,088.754 29
Deposits innat’l bank depositaries—gen’lacct,... 44,979,694 10
Disbursing officers’ balances................................
4,203,022 74— 50,298,759 04
Aggregate.........................................................
$861,391,370 £3
DEMAND LIABILITIES.
Gold certificates..................................................... $38,128,149 00
Silver certificates................................................ t87,>*25,504 00
Certificates of deposit act June 8,1872................ 44,565,000 00
Treasury notes of 1890....................... . ............... 106,848,280 00—$576,956,933 00
Fund for redemp. of uncurrent nat’l bank notes 8,236,0-3 94
Outstanding checks and drafts............................
6,338,785 38
Disbursing officers’ balances................................ 27,676,549 23
6,708,249 97— 48,959,638 57
Agency accounts, &c.............................................
Gold reserve................................ $100,000,000 00
Net cash balance.......................... 135,474,769 01........................... 235,474,769 01
Aggregate..................................................................
$861,391.370 58
Net cash balance In the Treasury November 30,1897.................. $220,663,559 8 4
Net cash balance in the Treasury P - cember 31,1897................... 235,474,789 01
Increase during*'
month
..................................................
$14,811,209 17
January
THE CHRONICLE.
15,1898.
M ERC AN TILE
F A IL U R E S
IN
THE
PREPARED
C O M M E R C I Al i
BY
UNITED
MESSRS. R.
STATES
G. DUN
FAILUR E S.
AN D
CANADA
IN
1897.
& CO.
CLASSIFIED
T o t a l , 1896.
T o t a l , 1897.
117
M a n u f a c t u r in g .
FAILU R E S,
T r a d in g .
1897.
O t h e r Co m ’ l .
B a n k in g .
St a t e s .
No.
Assets.
No.
I Liabilities.
Rhode Island...
228
55
55
924
350
10»
$
1,147,866
3*3,957
225,163
13,951,470
1,334,755
779,757
$
1,933,111
659,218
430,248
19,759,411
2,419,027
1,591,659
New England.
“
1896
“
1895
1,722
1,749
1,305
17,772,968
13,669,174
7,476,441
New Y ork ..........
New J ersey___
Pennsylvania...
1,871
la2
1,365
Middle............
“
189^
“
1895
3,363
3,915
3,471
Maryland...........
Tennessee..........
Kentucky...........
258
47
50
341
7a
147
97
115
337
149
136
13a
303
30t>
South...............
“
1896
“
1895
2,492
2,404
2,355
Arkansas............
T exas..................
Missouri............
Liabilities.
No.
Liabilities.
L iabilities.
No. Liabilities. No.
185
40
45
605
274
76
{ $
987,931
213,020
345,854
5,740,421
1,153,951
934,149
4
1
2
18
a
5
$
14,500
700
16,586
816,046
4,880
31,800
28S
90
68
881
296
125
$
2,311,069
1,982,497
373,711
16,107,829
2,099,320
2,721,020
26,792,675
25,595,446
18,965,817
1,749
25,595,446
464 116,532,837
521 13,965,185
459 10,538,701
1,225
1,188
813
9,375,326
11,039,522
7,649,549
33
40
33
14,370,408
1,006,852
10,778,920
30,980,233
1,910,890
13,987,911
2,173
193
1,549
46,632,142
3,204,680
23,6 lz ,596
556 14,288,494
49 L 1,145,987
7,041,363
417
1,259
80
924
26,156,180
37,108,168
33,182,888
46,879,034
73,449,418
60,577,969
3,915
73,449,418 1,022
1,316
990
22,475,844
38,146,793
33,014,442
2,770,366
211,300
644,331
3,375,758
1,191,850
1,232,855
803,242
526,842
2,463,514
1,582,670
797,850
1,256,225
1,942,814
a,931,384
319
57
79
337
78
*59
76
75
228
123
141
233
252
327
4,688,917
641,100
1,165,615
3,153,110
1,064,226
671.305
973,953
515,200
4,741,333
949,454
789,735
3.931,448
2,79 7/203
5,025,394
82
8
3
34
18
16
12
11
26
9
8
19
39
54
15,713,273
24,095,259
19,703,921
22,731,501
31,107,993
26,180,502
2,404
31,107,993
161
541
428
407,155
2,721,662
3,464,876
628,125
4,942,594
4,582,951
186
751
528
Southwest___
“
1896
“
1895
1,130
1,465
1,126
6,593,693
13,339,236
8,098,908
10,153,670
18,944,399
10,345,188
Indiana...............
Michigan............
Illinois................
Wisconsin..........
647
273
126
903
278
5,522,442
2;49i;539
k,037,869
13,l28,02z
4,658,882
Central. .........
1896
“
1895
2,227
2,837
2,311
Minnesota..........
Iow a....................
Nebraska............
Kansas................
293
369
70
169
30
N. Hampshire...
Massachusetts..
D. of Columbia.
Virginia..............
West Virginia...
North Carolina.
Florida...............
Georgia..............
Montana............
North Dakota...
South Dakota...
Colorado............
New M exico___
4C
14
8
301
73
28
Liabilities.
$
2
1
850,000
884,512
590,739
777,567
3
3
5
850,000
484,408
1,817,526
13,199,052
652,903
6,799,368
56 3,492,687
a
112,000
24
347,180
6
2
4
568,277
194,151
4,980,543
2,263
2,514
2,432
20,651,323
31,392,107
25,596,441
83 3,751,867
85 3,910,518
49 1,967,086
12
17
10
5,742,971
3,604,115
3,392,613
1,292,759
29,100
11,600
801,925
304,670
396,300
340,900
122,100
549,389
111,250
99,582
472,067
617,900
2,250,253
168
38
44
298
54
129
85
102
306
140
127
111
255
244
1,200,089
180,200
227,231
2,304,973
884,680
761,555
462,342
395,742
1,881,170
1,471,420
698,268
694;320
1,218,114
1,572,830
4
38,500
6
1
3
619,300
110,000
300,000
5
12
3
544,000
1,728,141
825,000
339
393
275
7,399,795
12,025,977
7,136,160
2,101
1,948
2,055
2,095,802
10,486,435
6,362,162
7
19
76
92,350
202,600
1,412,901
1,465
18,944,399
102
112
66
8,195,270
4,081,692
1,984,093
11,193,538
4,366,529
873
324
153
1,130
357
12,389,602
3,906,426
8,473,037
22,191,489
7,334,953
27,818,754
50,490,161
34,799,786
29,821,122
54,295,557
34,800,305
2,837
3,467,074
1,551,880
360,638
529,650
71,860
43 570
22
40
435)823
131
218,736
21
133,893
153
648,960
24
45t850
2
4,000
5,519,592
2,067,901
445,857
620,708
93,980
9fi,150
387,883
291,448
461,338
947,299
86,206
4,500
1,598,992
92,öO »
446,259
1,673,015
758,631
866,218
659,839
476,599
1,750,068
749,300
526,093
1,209.745
1,203,442
3,702,472
W e s t................
“
1896
“
1895
1,206
1,429
1,425
7,511,934
11,902,326
12,650,345
11,022,862
13,802,753
13,992,317
U ta h ...................
Idaho...................
559,125
119,385
45,900
Washington.......
Oregon'..............
California...........
Alaska................
162
75
Q
1
136
169
653
2
302,904
428,959
1,989,779
1,200
966,122
362,200
7
I ,500
530,235
656,93b
4,336,124
1,700
Pacific..............
“
1896
“
1895
1,206
1,289
1,204
3,447,252
5,477,176
5,109,246
6,931,207
8,901,268
8,333,962
8
1
3
9
1
2
277,518
2,000
406,000
268,860
2,500
75,000
2
5
9,000
32,955
1
3
9
8
89,838
106,800
108,301
N\
12
158,000
2,229,621
13,952,934
17,143,750
18,233,191
52
«3
25
1,378,772
1,938,266
811,151
53
22
11
6,552,562
4,722,339
2,374,368
152
519
344
527,475
4,279,294
3,144,500
2
3
8
8,300
460,700
25,550
2
8
8
126,000
297,000
176,000
1,707,851
3,719,088
1,677,505
1,015
1,335
1,058
7,951,269
14,633,888
8,665,683
13
18
2
494,550
5 9 1 ,4 '3
2,000
18
14
16
599,000
5,078,223
437,800
172
74
31
218
46
5,148,051
2,178,100
1,166,940
5,415,900
2,297,102
460
197
94
658
223
2,950,939
1,897,592
816,128
4,246,548
1,238,587
15
2
1
27
9
96,280
6,000
1,025
1,531,090
830,840
4
5
11
8
716,000
391,310
2,914,800
858,954
54,295,557
541
736
524
16,206,093
25,705,551
17,446,067
1,632
2,052
1,746
11,149,794
18,912,703
16,391,288
54
49
41
2,465,235
9,677,303
1,062,950
28
48
10
4,881,064
18,889,360
1,083,651
345
408
180
235
23
40
56
8
16
98
20
5,256,898
3,207,726
1,054,177
1,224,743
85,550
194,750
439)400
95,062
101,900
2,119,200
23,347
33
55
5
5
1,244,001
426,550
58,650
19,400
13
8
5
4
4
3,969,086
956,900
1,138,681
126,950
92,000
7,008
161,000
1,500
36,800
2,400
1,840,253
1,623,351
382,207
576,234
93,980
96,150
376)875
130,448
459,838
909,699
83,806
4,500
13 2,435,338
2
18,000
2
5,000
2
25,074
1
2
1
10
4
247
312
63
162
30
22
38
11
20
142
20
2
i
800
3
3
2
7
650,000
601,636
132,000
250,000
1,429
13,802,753
116
121
138
1,957,309
2,319,511
2,623,467
1,069
1,283
1,268
6,577,341
9,773,239
9,823,639
21
25
19
2,488,212
1,710,003
1,545,211
49
78
59
7,917,253
16,297,470
8,559,774
739,753
442,509
63,340
Í7)400
1,891,945
1,664,402
4,068,125
13,803
14
8
1
401,653
207,000
2,000
2.000
1,000
1
1
35,000
418,350
191,784
244,147
538,775
562,469
154,200
74,388
1,500
331,151
379,091
3,337,422
1,700
1
1
33
34
102
....
147
66
7
1
100
129
537
2
3
6
14
7,300
33,700
459,927
...........
4
1
1
850,500
200,000
203,000
192
219
183
1
1,585,359
2,581,746
1,483,731
989
1,032
1,009
4,841,921
6,151,411
6,446,631
25
38
12
503,927
168,111
403,600
8
16
21
1,706,850
1,643,000
3,044,478
281 11,967,075
318 18,586,363
181 6,569,565
171
198
132
28,249,700
50,718,915
20,710,210
1811
83
5
4
149
178
685
4
1,289
8,901,268
United States. 13,351 105,014,054 154,332,071 15,088 226,096,834 2,776
3,418
Total U. S. 1896 15,088 156,081,5''0 226,096,834
2,635
Total U. S. 1895 13,197 121,021,535 173,196,060
C A N A D IA N
No.
Ontario.......................................................
Manitoba..................................................
Prince Edward Island...........................
1 8 9 7 .........................................
1 8 96..........................................
1 8 95........................................
1 8 9 4 ,,......................................
Newfoundland 1 8 95.............................
Assets.
851
608
66
166
62
50
6
$
3,887,726
4,573,663
549,585
637,114
669)182
178,259
79,000
1,809
2,118
1,891
1,856
10,574,529
12,656,837
11,500,242
13,510,056
25
22
49
46,998
77,707
789.463
67,865,088 10,294 74,499,908
98,463,851 11,352 109,046,620
73,920,073 10,381 92,706,422
FA ILU R E S
T o t a l C o m m e r c ia l .
P r o v in c e s .
Total
Total
Total
Total
$
930,680
445,498
67,809
13,202,944
1,260,196
625,710
No.
IN
No.
Liabilities.
$
1,762,949
1,524,571
132,450
40,092
96,815
47,258
55)000
459
590
441
494
3,659,135
5,692,977
5,872,502
5,898,385
4
1,315
1,503
1,439
1,345
4
2
7
7,206
10)500
68.939
20
20
41
107,657
122)053
1,317,130
............
Ot h e r .
T r a d in g .
No.
$
302
5,395,767
117
6,129,357
13
504,487
9
1,056,703
9
619,16b 1
344,021
8
1
108,000
14,157,498
17,169,683
15.802,989
17,616,215 1
4,000
1897.
M a n u facturin g .
Liabilities.
1
533
480
51
154
51
42
Liabilities.
B an k in g .
Liabilities.
No.
$
206,848
305,597
No.
Liabilities.
4
$
122,000
27,000
13,112
1
32,000
1
11,000
....
9,931,806
11,381,482
9,788,932
11,436,258
35
25
11
17
566,557
95,224
141,555
281,572
5
3
7
6
97,951
111,553
1.227.171
1
2,500
1
21.020
$
3,425,970
4,299,189
369,037
989,611
509,236
296,763
42)000
16
11
2
3
2
3)0 0 0
....
154,000
212,000
613,090
876,814
118
THE CHRONICLE.
f$ to tx e ta u 0 s ® a m m tx tl& X % U Q lis h % tx c s
(VOL L X \ I.
ment. The famine is completely over, and everything is
looking well for the country. There is a large surplus of
wheat from last year’s crop, which is now being exported
freely through Kurracchee. In the Northwest Provinces
alone the surplus is estimated at 100,000 tons, and in other
parts of India there is probablv as much more. The new
wheat is in splendid condition. The area sown is the largest
on record, and recent rains have practically ensured the crop.
Harvesting will begin in February. In Burmah the rice crop
is the largest ever grown and the cotton crop is good. India,
therefore, onght to be in a position to buy European goods
on a large scale.
In Argentina, too, the crops are good. Private telegrams
received in the city this week state that the wheat crop is the
finest and the best ever grown, that little damage has been
done by the locusts as yet, and that the maize crop is looking
exceedingly well. The pastoral interest is doing well like
wise.
In Australia, unfortunately, there has been little rain as
yet, and it is feared, therefore, that though the wheat crop
will be large enough for home requirements, there will be
little for export, and the wool clip is known to be deficient.
Australia, therefore, will not do well in the coming year.
The money market is exceedingly stringent this week.
The rate of discount for two months’ bills in the open market
has been as high as 3 % per cent. For three months’ bills the
rate is 3 per cent. The Bank of England has discounted
an enormous number of bills at 3 per cent, while it has lent
very large sums at as high as 4 per cent. Partly the string
ency is due to the measures taken by the Bank to get control
of the outside market, partly it is due to the absurd practice
of the joint-stock banks to call in money at the end of the
year so as to make it appear in their balance sheets that they
hold larger cash reserves than they actually do, and partly it
is due to the usual requirements at the end of the year and to
the fear of gold withdrawals from the Bank. Very little
gold, as a matter of fact, has been taken, but there is still a
demand for the metal for Germany. Whether it is for Ger
many itself or for Russia or for Austria-Hungary is not
known. There is some fear that gold may be sent to India,
though very much is not likely to go.
In India the money market has become exceedingly string
ent. The banks of Bengal and Bombay have this week put
up their rates from 8 per cent to 9 per cent and the rate is
expected to go to 10 per cent next week. The export trade
has become active, but the supply of coin in circulation is
very small, which seems to be the real cause of the string
ency. This week the India Council offered 40 lacs of bills
and telegraphic transfers, but the applications were only for
30j^lacs, and the actual sales amounted to only 21 lacs, the
average price being Is. 3 13-16d. per rupee. Apparently the
banks did not apply because the bills offered in India were
very few. The Indian exchanges in spite of the small sales
remain steady.
The following return shows the position of the Bank o f
England, the Bank rate of discount, the price of consols,
&c., compared with the last three years:
[Prom our own correspondent.]
L ondon, Saturday, January 1, 1898.
When the Stock Exchange was opened on Tuesday morn*
ing after the Christmas holidays there was a general inclina
tion to put up prices in a 11 departments, firstly, because the
bull account is exceedingly small—indeed, in several de
partments it is hardly an exaggeration to say that there is no
bull account; and secondly, because there is a very general
hope that in the new year there will be a considerable revival
of business. On Wednesday some anxiety respecting Chinese
affairs sprang up, but since then a more hopeful feeling
prevails, and generally markets are well sustained, although,
of course, as things are there is very little business doing.
To-day the Stock Exchange is closed.
Respecting events in China, the first inclination here wa s
to conclude that there was an understanding between Ger
many and Russia. Now, however, there is a widespread
doubt on the point, and in support of the doubt we are as
sured that France, at all events, knew nothing of the inten
tion to seize Kiao Chou until it had been accomplished. The
argument is that the German Emperor, in his impulsive,
headstrong way, overruled the counsels of his ministers and
determined upon acquiring a Chinese port let the conse
quences be what they might. The real truth is that nobody
yet knows whether the Czar and the Emperor had come to an
understanding. But in Paris, at all events, it is widely be
lieved that France was not consulted, and in many circles
there is a feeling that France is being made a cat’s paw.
So far as this country is concerned, though a few jingo
newspapers write nonsense, the general feeling of the people
is that we have made ourselves responsible for the welfare
and security of quite enough people in the world without
increasing our burden by meddling in China. We do not
want Chinese territory, and certainly we are not going to
bolster up a moribund empire. We have had quite enough
of that in Turkey. All that we are really concerned for is
that our trade should not suffer, and it ought to be easy for
the Powers to come to an understanding respecting that. I f
Russia, as she assures the world, wishes to maintain the status
quo in China, Germany will hardly dare to seize any consider
able portion of Chinese territory, and if Germany and Russia
can keep their hands off we shall certainly not create trouble.
At the same time we must do what is necessary to protect our
trade. The general impression then is that no serious trou
1897.
1886.
1896.
1885.
ble will arise out of the rash act of Germany. The United
Dec. 29.
Dec. SO.
Jan. 2.
' Jan. 1.
States appears to be unwilling to mix herself up in the mat
£
£
£
£
ter, our own country is intent before everything upon main Circulation............ . . . . . . . . . . . . . 27,317,080
20,664,125 26,408,425 25,918,775
taining the peace, and Japan is hardly likely to involve her Public deposita..................
6,598,000
9,4(2,637
8,384,436
9,934,220
self in a quarrel in which she might find herself opposed by Other deposita.................. ...
40,241,311 46,851,795 66,620,619 38,198,631
Russia, Germany and France combined.
Government securities........... 13,024,169 13,752,969 14,030,164 14,089,099
Upon the Continent, too, there is a somewhat more hopeful Other securities............... ..
£4,641,880 34,563,345 33,885,875 24,025,528
feeling. Apparently the Emperor Francis Joseph will pre Reserve of notes and coin .... 19,906,413 24,294,774 85,291,631 23,972,804
vail upon all parties in the dual monarchy not to exaggerate Coin & bullion, both depart’ts. 30,453,493 34,158,809 44,960,066 33,091,079
53 5-16
40
53
41*4
the present crisis, though how a solution is to be arrived at Prop, reserve tollabilitle? .p.o.
2
4
3
2
no man can see. In the Balkan peninsula there is very much Bank rate.....................per cent.
103 13-16
112 9-16
111 7-16 106 9-16
unrest, but the Powers are so anxious to maintain the peace Consols, 294 per cent................
27
7-10d.
26*6d.
39*6d.
30*6d.
that it is believed the Balkan States will all be kept in con Silver...................................... ...
trol. The Cretan question is as far from a solution as ever, Clearing-House returns.......... 105,382,000 132,437,000 178,975,000 180,319,000
The rates for money have been as follows :
and the world is growing weary of the vaunted European
concert. Still nobody fears that there will be a quarrel be
Interest allowed
Open Market Hates.
Cause of Crete. Italy seems to be gradually emerging from
<0
for deposits by
her troubles. And Spain alone is in a desperate way. True,
Trade Bills.
Hank Bills.
Disc’t B ’se
the insurgents in the Philippine Islands have submitted, and London.
Joint
£ Three Four
one of her great difficulties is therefore ended. But there is
At 7 to 14
Stock
Three
Four
Six
Six
«
« Months Months Months Months Months Months Banks. Call. Days.
still the Cuban settlement to be arrived at, and after all come
the hopeless financial embarrassments. However, the opinion
2
3*4
3 @3*4
2*4
3*4
1*6
m
m
3 3 21510
is general everywhere that peace will be maintained and that Dec.
2
2*4
3*6
•2 15-16
294
1*6
2*6
3*4
•• 10
in the new year we shall see a considerable revival in busi 1 17 33 2 15-16 2%
*
2
2*4
3*4 3*4® *6 1*6
3*4
ness.
2
2 15-16
2*4
1*6
3
3*4 3*4@3*é
3*6
“
24 3
294
2
At home the unfortunate engineering dispute is to continue.
2*4
3
1*6
3*6
1 31 3
2*6
m
8*4 3*4@3*é
The provisional agreement arrived at by a conference of the * 296@11-10.
employers and the leaders of the work people has been re The Bank rate of discount and open market rates at th0
jected by an enormous majority of the work people them chief Continental cities have been as follows:
selves, and so, apparently, the struggle is to go on. But un
less the trades unions all over the country come to the effective
Dec 10.
Dec. 17.
Dec. 31.
Dec. 24.
aid of the engineers it is certain that they cannot hold out
very much longer. Apart from labor disputes and political
Interest at
Bank
Bank
Open
Open
Bank
Open Bank Open
anxieties everything looks hopeful for the new year. The
Bate. Market Bate. Market Bate. Market Bate Market
home trade continues wonderfully good. Never, perhaps, in
2
2
2
2
2
2
2
2
the history of the country was the great mass o f the people Paris...............
4
5
5
5
5
4*6
4*6
3%
so well off. The winter so far has been exceedingly mild, Berlin..............
5
5
5
496
5
4*6
496
Hamburg......
394
employment is abundant and wages are fairly well main Frankfort. ...
5
5
494
494
5
5
496
3*6
tained. Even the foreign trade has suffered very little and Amsterdam.... 3
3
3
8
2*6
2*6
2*6
296
the prospects of some of our best customers are improving.
3
3
3
2
2*6
2*6
3
Brussels.........
2*6
There is a very confident hope that in spite of the Dingley Vienna..........
4
4
4
4
4
4
4
3*6
5
5
6
6
5
tariff the prosperity of the United States will lead to larger 3t. Petersburg. 6
5
6
4
5
4
4
5
5
4
5
purchases of British goods, while there seems to be good
5
5
5
5
5,
5
5
grounds for saying that our exports to India will largely aug Copenhagen.. • 5
THE CHRONICLE,
January 15, 1398.j
119
Messrs. Pixley & Abell write as follows under date of
The following is a statement of the exports (exclusive of
Dec. 30:
specie) from the port of New York to foreign ports for the
Gold—There has been no change of note In the character of the gold week ending January 10 and from January 1 to date :
demand. It appears certain that a portion, say £100,000, of the
withdrawals from the Bank has been sent to New York. Tne Bank
has lost $223,000, and has received £154,000, chiefly from South
Africa. Arrivals: From Capetown, £ 4 5 2 ,00 0 ; Australia, £ 5 5 ,0 0 0 ;
Straits, £ 1 1 ,0 0 0 ; total, £518,000. Shipments: To Bombay, £20,000.
Silver The market, which had somewhat hardened when we last
wrote, again advanced on the 24th to 26%d., but free selling again
caused a relapse in spite of a good Eastern demand. Declining to
26%d , the price is steady at the close at 26%d. The Indian price is
Bs.70% per 100 Tolahs. Arrivals: New York, £ 2 2 6 ,0 0 0 ; Chili, £30,0 0 0 ; total, £256,000. Shipments: To Bombay, £ 1 5 1 ,10 0 ; Shanghai,
£ 1 7 ,5 0 0 ; total, £168,600.
Mexican Dollars—There has been little doing during the week, few
being on offer, but there are orders on the market. Shipments: To
Straits, £31,050.
The quotations for bullion are reported as follows:
Dec.
23
Dee.
30.
Gold.
London Standard.
d.
$7,616,723
Total 1 week...
$7,989,491
$8,792,649
$9,538,642
$7,616,723
The following table shows the exports and imports of
specie at the port of New York for the week ending Janu
ary 8 and since January 1, 1898, and for the corresponding
periods in 1897 and 1896.
Dec.
23.
Exports.
Week.
The following shows the imports of cereal produce into
the United Kingdom during the first seventeen weeks of the
new season compared with previous seasons:
Total 1898.........
Total 1897.........
Total 1896.........
271«
26%
28%
26%
IMPOSTS.
1897.
1896.
1895.
1894.
Importsofwheat,owt.21,618,000 22,814,530 23,086,960 22,243,812
Barley........................... 8,044,294 10,499,670 10,419,270 12,198,865
O a ts.............................. 4,967,020
7,179,230 4,923,840
5,237,457
P eas..............................
971,870
1,499,345 1,068,350
954,798
Beans............................ 1,174,540
1,166,300 1,343,810
1,554,894
Indian corn.................14,455,600 20,291,700 13,636,980
7,350,192
F lour............................. 6,257,500
7,501,730
6,430,900
6,613,834
Supplies available for consumption (exclusive of stocks on
September 1):
1896.
1897.
Wheat imported, ow t.21,618,000 22,814,530
7,501,730
Imports of flour........ 6,257,500
Sales of home-grown. 10,530,194 10,019,909
1895.
23.086,960
6,430,900
5,315,836
1894.
22,243,812
6,613,834
7,421,449
Total...................... 38,405,694 40,336,169
1897.
1896.
Aver.prioe wheat,week.24s. 4d.
30s. 9d.
Average price, season..33s. 4d.
28s. lOd.
34,833,696
1895.
25s. Od.
24s. 7d.
36,279,095
1894.
20s. 9d.
19s. 6d.
Im ports.
<7old
Germany..................
West Indies............
Mexico......................
South America.......
All other countries.
014 Bar silver, fine.. .oz. 265s
0%| Bar silver, oontain’g
0%| do 5 grs. gold.oz.
do 4 grs. gold.oz.
1%
6%' do 3 grs. gold.oz.
Cake
silver..........oz.
3%|
3%l Mexican dollars.oz.
1895.
$9,538,642
27
2613,«
2658
285s
2618
d.
0
0*2
0%
11«
6%
3%
3%
1896.
$8,792,649
Great Britain...........
8.
78
78
76
76
76
76
76
1897.
$7,989,491
EXPORTS AND IMPORTS OF SPECIE AT NEW YO RK.
Dee.
30
d.
1898.
For the week..
Prev. reported
d.
2 6*2
Bar gola, flu e....oz.
Bar gold.parting.oz.
Spanish, o ld ......o z .
New................ ..oz.
U .S . gold coin...oz.
German gold eoin.oz.
French gold ooin.oz.
8.
78
78
76
76
76
76
76
Si l v e r .
L ondon Standard.
EXPORTS FROM NEW FORK FOR THE WEEK..
Silver.
Since Jan. 1.
Week.
Since Jan. 1.
$32,000
$22,000
$494,086
289,500
69
6,499
4,151
22,598
928
$32,000
36,800
4,036,883
$22,000
36,800
5,048,925
$817,831
132,066
52,944
$816,903
132,066
161,919Im ports.
Exports.
Week.
Since Jan. 1.
Great Britain...........
France......................
Germany.................
West Indies..............
Mexico.....................
South America.......
All other countries.
$1,003,250
123,000
$813,550
59,000
1,863
1,863
Total 1898........
Total 1897.........
Total 1896.........
$1,128,113
624.544
996,432
$494,086
289,500
696,499
4,151
22,598
Week.
.............
$874,413
624,544
1,305,929
Since Jan. 1 .
$21,000
100
24,212
58,484
52,701
721
$21,006
100
24.212
58,484
48,581
721
$157,218
31,280
17,500
$153,098
31,280
53,722
Of the above imports for the week in 1898 $513,637 were
American gold coin and $523 American silver coin. Of the
exports during the same time $32,000 were American gold
coin.
The following shows the quantities of wheat, flour and
Coinage by U nited States M ints.— The following state'
maize afloat to the United Kingdom:
ment, kindly furnished U3 by the Director of the Mint, shows
This week. Last week.
1896.
1895.
thecoinageat the mints ofthe United State3during the month
2,103,000 of December and for the calendar year 1897.
2,255,000 2,495,000
Wheat...............qrs....... 2,275,000
480,000
360,000
Flour, equal to qrs....... 470,000
349.000
Maize....... ........ q rs... .
690.000
630,000
895,000
592.000
Denominations.
E n g li s h F i n a n c i a l m a r k e ts —Pe r Cable.
The daily closing quotations for securities, etc., at London
are reported by cable as follows for the week ending Jan. 14:
London.
Sat.
Mon.
Silver, per ounoe....... d.
Jonsols., new, 2% p.cts.
For aooount................
Fr’oh rentes (inParis) fr.
Atoh. Top. & Santa Fe.
Do
do
pref.
Canadian Pacific...........
Chesapeake & Ohio.......
Ohio. Milw. <te St. Paul.
Denv. & Bio G r.,p ref..
Erie, common________
1st preferred..............
Illinois Central..............
Lake Shore................. .
Louisville & Nashville.
Mexican Central, 4s ..
Mo. Kan. & Tex., 00 m..
N. Y . Cent’l & Hudson.
N. Y . Ontario & West’n
Norfolk & West’n, pref.
Northern Pacific, com..
Preferred.....................
Pennsylvania.................
Phila. & Bead., per sh..
Phil. & Bead., 1st pref.
Phil. & Bead., 2d pref.
S Juth’ n Bail way, com.
Preferred................ .
Uaion Pacific___ _ . . . . .
Wabash, preferred. . . .
267, «
11234
11215,«
103-20
13%
32%
875s
23%
9 8 78
48*4
155s
40%
109%
179
58%
68%
13%
113%
16%
49%
22%
62%
59 «
1178
27
145g
9%
33%
29%
19
267ie
1129,6
11211,6
103*10
135s
32%
88
23%
9878
48%
15%
39%
109%
180
58%
68%
13%
114%
16%
48%
22%
63
60
1178
275a
14%
9%
33
29%
19%
Tues.
Wed.
26%
269,e
li b i le 11211,6
11213.« 11213,«
103-25 103-15
133a
13%
32%
32%
89%
90
23%
23%
98%
99%
48%
49%
15%
15%
40
40
110% 110%
181
181
58%
59%
68%
68%
13%
13%
114
114
16%
16%
49
49%
24%
23%
66%
64%
60
60
11%
tl%
275s
265s
14%
14%
9%
9%
33
33
29%
31%
19%
195s
Thürs.
F ri.
2611,6
11211,6
11213,
03-10
13%
32%
89
23%
99%
49%
15%
40
110
182
585s
69
13%
114
16%
49%
25
65%
60
1158
265s
14%
9%
33 >4
31%
19%
26%
11213,6
11215,6
0317%
13%
32%
90
23%
99%
49%
155s
40
110%
59%
69
13%
117
16%
49%
25%
66%
60%
115s
26%
14%
9%
33%
32%
205s
© o u x t t t c ix ia X a n ;c X I I E t t s c e lX a u e c r iis l l e u r s
I mports and Exports for the W eek.—The following are
the imports at New York for the week ending for dry goods
January 6 and for the week ending for general merchandise
January 7 also totals since the beginning of the first week
in January.
FOREIGN IMPORTS AT NEW YO RK.
F or week.
1898.
1897.
1896.
1895
Dry goods.......
Gen’l mer’dise
$2,390,152
7,288,184
$2,014,273
7,752,649
$3,183,076
7,754,890
$3,952,537
5,698,104
T o ta l.........
Since Jan. 1.
Dry goods.......
Gen’l mer’dise
$9,678,336
$9,766,922
$10,937,986
$9,650,641
$2,390,152
7,288,184
$2,014,273
7,752,649
$3,183,076
7,754,890
$3,952,537
5,698,104
Total 1 week...
$9,678,336
$9.766,922
$10,937,966
$9,650,641
Decem ber.
Pieces.
Jo able eagles. . . . . . .
sagles..................
la lf eagles............
Chree dollars....... .
Quarter eagles.........
dollars......... .
Twelve Months 1897.
Value.
Pieces.
121,027
84.778
62.036
$
2,420,540
847,780
310,180
St
2,853,511 57,070,220
1,277,409 12,774,090
1,222 883 6,114,415
19,257
48,143
Value.
29,904
74,760-
Total g o l d .. .......
287,098
3,626,643
5,383,707 76,033,485-
Standard dollars.. .
Saif dollars.. . . . . . . .
Quarter dollars.......
Dimes... . . . . . . . . . . . .
1.604.330
186,330
398,558
1.800.330
1,604,330
93,165
99,639
180,033
12,651,731 12,651,731
4,046,631 2,023,315
10,097,776 2,524,444
12,872,108 1,287,211
Total silver...........
3,989,548
1,977,167
39,668,246 18,486,701
five c e n t s ..... . . . . .
One c e n t.............. .
1,898,854
4,272,837
94.943
42,728
20,428,735
50,466,330
1,021,437
504,663
137,671
70,895,065
1,526,100
Total m in o r .......
6,171.691
i oftal coinage . . . .
10,448,337
5,741,431 115,917,018 96,046,286
Changes in L egal T enders and N ational Bank N otes to
Jan. 1.—The Comptroller of the Currency has furnished us
the following, showing the amounts of national bank notes
Dec. 1, together with the amounts outstanding Jan. 1, and
the increase or decrease during the month; also the changes
in legal tenders held for the redemption of Bank notes up toJan. 1.
National B a n k Notes—
Amount outstanding Dec. 1 ,1897,
Amount issued during December..
Amount retired during December.,
$403,117
1,027,543
Amount outstanding Jan. 1,1898*
Legal Tender N otes—
Amount on deposit to redeem national bank
notes D e c .l, 1897.............................................
Amount deposited during December.............
Am t reissued and bank notes retired in Dec.
$229,549,707
619,426
$228,930,281
$6,231,037
1,260,983
$27,814,134
4,970,054
Amouht on deposit to redeem national
bank notes Jan. 1 ,1 8 9 8 .........................
$32,734,18»
* Circulation or National Gold Banks, not included in above, $ 84,360.
According to the above the amount of legal tenders on de
posit Jan. 1 with the Treasurer of the United, States to re
deem national bank notes was $32,784,189. The portion of
this deposit made ( I) by banks bee >ming insolvent, (2) by
banks going into voluntary liquidation, and (3) by banks re
ducing or retiring their circulation, was as follows on thefirst of each of the last five months1
IR E
120
Deposits by—
Sept. 1.
Nov. 1.
Oct. 1.
$
1,359,560
5,311,061
$
1,338,684
5,398,800
*
1,339,810
5,323,766
Dec. 1.
$
1,538,674
5,458,185
CHRONICLE.
Jan. 1.
$
1,536,334
5,462,724
Insolv’ntbks.
Liquid’g bks.
Red’e’gund.
act of 1874* 18,081,927 18,457,134 19,383,201 20,817,276 25,785,130
Total....... 24,752,548 25,120.710 26,120,685 27.814.135 32,784,188
* Act of Jane 20, 1874, and July 1 2,1 8 8 2 .
F o r e ig n T r a d e o f N e w Y o r k — M o n t h l y S t a t e m e n t .— In
addition to the other tables given in this department, made
up from weekly returns, we give the following figures for
the full months, also issued by our New York Custom House.
The first statement covers the total imports and exports of
merchandise and the Customs receipts for the twelve months
of the last two seasons.
Me e c h a n d isk Mo v e m e n t
N e w Y o r k . COSTOMS RECEIPTS.
AT NEW YORK.
1897.
1896.
1897.
1896.
1897.
at
Exports.
Imports.
MONTH.
1896.
»
10,424,676
10,077,448
9,320,014
7,584,037
29,929.852 17,711,36:
7,360,059
9,092,276
29,862,948
7,213,322
14,728,78:
30,822,094
30,830,037 12,299,571 8,259,048
8,450,706
5,202,72'
28,060,172
7,621,220
5,360,54.
80,495,166
7,163,420
6,799.096
35,486.781*
6,046.183
6,929,14
32,620,560
7,285,290
7,879,352
35,741,707
1
$
$
t
t
January.... 34,415,116 44,795,619 33,407,694 33,801,742 7,705.40*
8,359,78’
27,377,962
30,318,791
February... 38,974,041 40,981,021
March........ 46,878.360 42,285,571 34,532.480 30,003,815 17.579,63:
A p r i l .... . . .
May..........
June...........
J u ly ........
August......
September..
October....
November..
December..
59,939,218
48,951,475
49,074,612
33,460,976
26,541,439
28,434,443
31,021,412
34,112,886
34,421,230
37,918,069
35,638,091
86,567,351
33,254,119
32,294,914
32,649,397
83,139,446
32,458,171
83,265,417
31,412,368
31,959,867
33,792,998
31,142,803
31,345,828
37,437,376
34,492,610
32,340,749
39,535,651
Total... 466.228.241 440,247,079 404.879.218 375.03V.854 119,627.667 97,405.477
The imports and exports of gold aud silver for the twelve
months have been as follows :
Si l v e r - N e w V o r k
Gor.i) Mo v e m e n t a t N e w STORK.
Exports.
Imports.
Mon th .
1897.
1896.
May............
June..........
July...........
August......
September.
October.....
November..
December..
S
1
7,217,055
261,329
9,792,490
286,162
280,107
606,351
700,757
299,634
222,988
307,050
378,885
339,826
359,947
230,918
3,560,086
1,884,354
383,456 30,736.333
8,969,606 23,133,791
4,016,890
364,512
159,887
296,047
Tot i l . . .
14,239.245 80,563.210
January —
February..
March........
A pril............
BAN KS.
Bid. Ask.
Imports.
Exports.
1897,
1897.
$
«
302,281 10,538,473
1,909,180
323,131
364,665
507,58?
3,272,677
6,567,602
9,453,197 18,685,454
5,875,013
7,813,203
4,551,135
8,998,870
50,590
790,670
47,805
84,135
99,839
118,1 82
293,201
226,951
184,095
152,306
1
956,934
800,631
845,455
928,194
1,674,186
1,518,054
1,064,900
1,205,472
1,650,804
1,151,682
1,024,690
1,020,250
«
3,421,002
3,782,265
4,233,532
4,450,526
3,685,332
4,S09,837
3,812,015
4,311,326
3,324,961
3,827,889
3,799,380
4,447,883
50,319,868
13,841.05-
47.408.553
30.390.340
Bank Stock List—Latest prices.
Amerloa.......
Am. E xoh ...
Astor Place*
Bowery*.......
Broadway....
Butch.&Dr..
Central........
Chase............
Chatham___
C hem ical....
City.............
Citizens’ ___
Columbia...
Commerce...
Continental.
Cora E xch ...
Bast R iver..
11th W ard..
F ilth A v e....
Fifth*...........
First........... .
First N., S. I
14th Street..
Fourth........
Gallatin----oansevoort*
1896.
1897.
BANKS
Not Listed.
Bid. Ask.
Garfield...... 600
German Am. 117
175
German Ex.* 276
325* Germania.... 300
245 Greenwich... 165
105 Hanover...... 365
Hide & L .*.. 88
165 175
Hud. River.. 155
Im.&Trad’rs 515
285 310
Irving.......... 145
4000
Leather M is’ 170
700
125 140 Liberty*. . ... 130
Lincoln........ 775
150
207 212* Manhattan... 230
127 140 MarketA Ful 230
Mechanics’ .. 185
285 295
M’chs’ &Trs’ 110
135 145
Mercantile... 168
2800 3400 Merchant.’ .. 145
Merch’t . Ex. 120
225
Metropol’s... 440
3000
125 150 Mt. M orris., 100
130 160 N assau........ 150
185 195 N. Ams’dam. 235
New Y o rk ... 235
>300
100 N . Y. Co’ nty 700
350
170
224
300
225
*
127
550
250
250
155
BAN KS.
Bid. Ask
N .Y .N at.E x 80
Ninth..
90
19th W ard.. 100
N. Amerloa. 135
Oriental....... 140
180
P acific..
263
P ark .....
205
People’ s.
90
Phenlx..
190
Plaza*....
Prod.Ex.*... 117
Republio___ 155
Seaboard... 165
Second...... 450
Seventh.... 100
Shoe & Le’th 98
Stateof N.Y. 110
Third...........
Tradesm’n’ s. 105*
12th Ward*. 130
227
U nion.
Union Sq.*..|170
Un’d States. ¡210
Yorkvttle*... 175
W estern..... 135
W est S ide...1275
190
275
100
Ask.
Atlan. Ave., B’klyn—
Con. 5s, g., 1931 ..A& O { 1 0 0 103
80
Impt. 5s, g., 1934.J&J 77
33
Bl’eck. St.& Ful F.—Stk. 31
108
1 st mort... 7s, 1900. J&J 106
B ’way * 7 th Ave.—Stock 206 2 1 2
ístmort.,5s, Ì904.J&D 106 1 1 0
2d mort., 5s, 1914. J&J 8111 1 1 2 1 «
B’ way lst,5s;guar.l924 8117 118
2d 5s, int. as rentT..i906 8106 107
Consol. 5s, 1943..J&D * 1 2 1 1 2 2
Met. 8t.R y.,gen.5s,’ 97 116 116’4
Brooklyn City—S tock... 2 0 2
Consol. 5s, 1941.. J&J 114 116
Bklyn.Crosst’n 5s. 1908 106 108
Bkl’nQ’ns Co.&Sub.lst 105 107
Bkl’n C.& Newt’wn—Stk 160
113 116
5s, 1939.......-............
40 >•
Brooklyn Rapid Transit. 40
94’s 95 >«
5s, 1945................A&O
Central Crosstown—Stk. 195
1st M., 6 s, 1922..M&N { 1 2 2
Cen. Pk.N.& E.Riv.—Stk 175 Ï80
Consol. 7s, 1902...J&D 113 117
Columbus & 9th Ave. 5s. 123 1231«
Christ’p’r& lOt h St.—Stk 155 160
1st mort., 1898...A& O 1 0 2 104
{ And accrued interest.
Miscellaneous Bonds :
M is c e lla n e o u s B on d s.
Miscellaneous Bonds.
Oh. Jan. &S. Vds.—Col.t.g.,5s
Jeff. & Clear. O. & 1 . 1st g. 5s
2d g. 5s ....................... : . . . .
Colorado C. & 1 .1st cons. 6 s,g. 95 b.
Colorado Fuel & I.—Gen. 5s. 83 b. Manhat. Beach H. & L. g. 4s.
Metropol. Tel. & Tel. 1st 5s..
Columbus Gas—1st, g., 5s___
Commercial Cable—1st g. 4s. *105 V>. Mlch.-Pbuln. Car 1st 5s .....
Cons.Gas Co.,Chic.—1st gu.5s 103 H»b. Mutual Union Teleg.—6s, g..
De Bardeleben C. & I.—g. 6 s. 81 b. Nat. Starch Mfg. 1st 6s........ 105 Hsb.
Det. Gas oon. 1st 5................. * 95 b. N. Y. & N. J. Telep. gen. 5s..
Edison Elec. IU. Co.—1st 5s.. *112s4a. Northwestern Telegraph—7s
Do of Bklyn., 1st 5s..
People’s Gas & C. 1 1st g. 6s.
Equit. G.-L., N. Y.,cons.g. 5s.
Co., Chioago.___) 2d g. 6s. 1 1 0 a
1st cons. g. 6s.............. .
Equitable G. & F.—1st 6 s___
♦llO’ìjb.
9 7 3 4 b. South Yuba Water—Con. 6s.
Erie Teleg, & Telep. 5s, g ...
Galveston Wharf Co.—1st 5s. 98 b. Standard Rope & T.—Ino. 5s. * ' 1284a .
Henderson Bridge—1st g. 6 s. ' 1 1 2 b. Sunday Creek Coal 1st g. 6s.
Illinois Steel deb. 5s
Western Union Teleg.—7s... 104 Hb.
Non-conv. deb. 5s..
Western Gas 00U. tr. 5s_____ *102 _b.
N ote.—'“ ¿’ ’indicates price bid 5 “ a” price asked. * Latest price this weekT
Gas Securities.—Brokers’ Quotations.
GAS COM PANIES.
GAS COMPANIES.
B’klyn Union Gas—Stock.
B onds.....................
Central........... ..............
Consumers’ (J ersey City).
B onds..............................
Jersey City & Hoboken...
Metropolitan —Bonds........
Mutual (N. Y.) ...............
N. Y. & East R iv. 1st 5s..
Preferred........... ..........
C o m m o n .....................
Consol. 5 s . .....________
120 121
People’ s (Jersey City).
Wiluamsburg lst 6 s ...
113 <4
205
Fulton Municlpa 1 6 s ...
Equitable_______ . . . . .
80
77
Bonds, 6 s, 1899 . .. .
102ia 104
185 195
St. P aul........... .............
Bonds, 5s. ................
105
302*
296
Standard pref................
11034 I l l ’s
Common........
98 104
Western Gas.................
79
Bonds, 5s___ _____ _
77
105 107
105
115
140
18Ô*
150
Bid. Ask.
D. D. E. B. & Bat’y—Stk. 175
lst, gold, 5s, 1932. J&D 114 118
S c rip ....... ...................... {100*9 ÍOI1*
Eighth Avenue—Stock.. 325
Scrip, 6 s, 1914.............. 105 107
42d A Gr. St. For.—Stock 325 350
47
42d St. Man. & St. N. Av. 45
1st mort. 8 s, 1910.M&S 116 118
2d mort. income 6 s. J &J 85 .......
Kings Co. Trao.—Stock.. 46>« 48
Lex. Ave.& Pav.Ferry 5s 123 1231«
Metropolitan St. Ry.-Stk 134 134’s
Nassau Elec, 5s, 1944... 1 0 2 103
N. Y.&Queens Co. 5s, 1946
Steinwaylst 6s.’22 J & J 1¿5 117
Ninth Avenue—S tock... 180 2 0 0
Second Avenue—Stocx.. 149 150
lstmort.,5s,1909.M&N 108’s 1 1 0
Debenture5s,1909. J &J 106
Sixth Avenue—Stock— 195 2 0 0 *'
Third Avenue—S tock. .. 182 183
1st mort..5s, 1937..J&J 123 124
28th&29th)St. lst 5s,1996 103
Twenty-Third St.—Stock 300
Deb. 5s, 1903................. 103
175 2 0 0
Union R y —Stock.........
lst 5s, 1942........ ........ { 1 1 0 1 1 2
.....
Westchest’r, lst, gu.,5s {106
Bid. Ask
160
104
105
215
103
40
75
151
135
170
220
105
46
80
153
136
86 87
102>a103 H»
New York City, Boston and Philadelphia Banks.—Below
we furnish a summary of the weekly returns of the Clearing
House banks of New York City, Boston and Philadelphia.
The New York figures do not include results for the non
member banks, which will be found separately reported on
the third page following.
Capital d
B an ks . Surplus.
Legale. Deposits.* Oire’l’n
Specie.
Loans.
$
$
$
$
9
N. V.*
$
$
Deo. 18 132,333,6 606,679,3 1042670 78,931,9 669,891,4 15,751,1 865,245,5
24.. 133,253,5 610,606,3 1044037 74,402,9 669,132,6 15,728,5 629.611.1
“ 31.. 133,253,5 607,781,6 1047307 79.824.1 675.064,2 15,507,2 739.857.2
Jan. 8 .. 133,253,5 609,776,9 1065885 87,074,2 685,592,5 15,571,9 10428974
B or.*
9,985,0 185,178.0 5,698,0 86,866,5
Dec. 24.. 63,393,8 181,360,0 11.644,0
8,693,0 183.767.0 5,597,0 106.449,9
31., 63,393,8 181,764,0 11.764,0
8,810,0 187,394,0 5,504,0 135,036,8
Jau. 8 . 63,393,8 182,927,0 11,969,0
P h lla .*
125,453,0 6,285,0 62,003,0
38,189,0
Deo. 24 . 35,388,0 114,413,0
125,418,0 6 ,0 2 1 .0 60,852.4
38,311,0
31.. 35,388,0 113,558.0
127,938,0 6,019,0 92613,9
39,949,0
Jan. 8 .. 35,388.0 114,706,0
* We omit two ciphers in all these figures.
t Including tor Boston and Philadelphia the Item “ due to other hanks.”
United States Snb*Treasary.—The following table snows
Balances.
Date.
Receipts.
Paym ents.
8
10
11
12
13
14
$
4,945,941
5,346,672
4,923,856
3,654,413
3,062,605
3,623,265
$
5,353,891
5,154,755
5,173,237
3,618,957
4,459,521
5,836,959
Total..
25,558,752
29,597,320
Jan.
“
“
«
«
n
Coin Cert's.
Coin.
$
147,787,318
147,802,671
147.803.187
147,799,017
148,052,112
147.704.187
$
1,173,382
1,291,666
1,873,539
2,349,372
2,053,923
1,692,280
C urrency.
$
38,823,661
38,881,941
38,050,170
37,613,963
36,259,401
34,757,275
Anction Sales.—Among other securities the following, not
regularly dealt in at the Board, were recently sold at auction
By Messrs. Adrian H. Muller & Son :
Sh/CWGS•
165
City Railroad Securities.— Brokers’ Quotations.
Bid.
V ol . LX\I.
26 Nat’l Shoe & Leather B’klOO
68 42d St. Manhattan. & St.
50 Commonwealth Ins. Co.-lOO’a
Nichol. Ave. Ry. C o ..., 47*2
100 New England RR. (all
34 N. Y. Loan & Imp’t Co
54
assessments paid)......... 3914
5 First Nat’l Bank of N.Y. 3,165
35 Importers’ & Traders’
440 Nat’l Citizens’ Bank....... 1277s
Nat’l Bank.............. 523-525
80 Nat’l Broadway Bank.. .2301«
Bonds.
5 N. Y. Life Ins. &Tr. Co.. 1226
$2,000 Jersey City 7s 40-year
80 Goshen & Decker town
1913. J & J ............................ 13414
Ry. Co................................72
1 Fifth Ave. Bank, N. Y .. 3,205 $3,000 N. Y. & East Riv. Gas
Co. ls t 5s, 1944. J&J....... 1 1 1 \
100 New Engl. Brown Stone
$6,000 42d St. Manhat. & St.
Co, of Cromwell, Conn. 1
Nich. Ave. Ry.2d [no., 1915 86
10 People’s Tr.Co. of B’klyn251
$4,000 Wheeling Lake Erie &
10 Leather M’furers’ Bank.|180
Pitts. Coal Co, 5s, 1919.
80 Mechanics’ Nat’l Bank.. 188
July, 1897, Coupons on
. 40*8
5 Title Guar. & Trust C o ..290
$6,000 Sand Mans. & New.
5 Central Trust Co..............1385
RR. 7s, Cons., 1909 July,
5 Knickerbocker Trust Co.227
1897, Coupons on................ 1021«
10 Lawyers’ Surety C o .... 108>4
g a ix k itiS
and
Ifia a ttJ C ia l
Sp<encer Trask &
Co.,
BANKERS
27 & * 9 PIN E ST R E E T ,
-
N E W YO R K ..
65 State Street, A lbany.
IN V E S T M E N T S E C U R IT IE S ,
A l e x a n d e r M . W h i t e , Jr
George Barclay M offat.
M
o f f a t
&
W
h i t e
,
BAN KERS,
N o. 1 NASSAU S T R E E T ,
.
.
.
NEW YORK
IN V E S T M E N T S E C U R IT IE S
THE CHRONICLE
J anuary 15, 1868.]
fla n k e r s ’ ( S a i l l e .
D I V I D E N DS.
N am e o f Company.
When
P er
Cent. Payable.
B ooks closed.
(B a y s inclusive.)
R a i l r o a d s ( S t e a m .)
to
Jan.
3
A tlanta & West P o in t...................
to
Jan.
3
D e la w a re ........................................
2 % Jan. 15 Jan. 2 to Jan. 14
G eorgia RR. & Banking (quar.).
1*2 Feb. 1 Jan, 21 to Feb. 1
G reat Northern prêt, (q u ar.)----2% Jan. 25 Jan. 16 to Jan. 24
H unt. & B. T op M t.R R <s Coal pf.
1 % Feb. 15 Feb. 1 to Feb. 15
L ake Erie & West. prêt, (quar.).
21---------- to
Jan.
2%
New L on d on N orthern (q u ar.)...
1 Dec. 16 to Jan. 3
2
% Jan.
R o c k Islan d & P e o ria ...................
1* H'eb. 1 Jan. 16 to Feb. 2
St. P. Minn. & Man. guar, (quar.)
1
Dec. 22 to Dec. 31
Jan.
3
V erm on t V alley o f 1 8 7 1..............
1 ----------- to
Jan.
4
W rightsv.& Tennille com . and pf.
S tre e t R a i l w a y s .
to
% Jan.
A k . B ed ford & C lev., Clevel. (O.)
Deo. 18 to Dec. 24
C incinnati Street Ry. (quar.) —
1*4 Jan.
Ian.
C leveland E lectric R y. tqu a r.)..
%
to
Jan.
D art.& W estp., N.Bedf. Mass. (qu. )
2
Dec. 16 to Deo. 31
Jan.
3
H a rtford (Conn.) Street R y .........
Dec. 28 to Dec. 31
Jan.
4
H oly ok e (Mass.) Street R y ..........
Dec. 30 to Jan. 10
60c, Jan.
M arket St. R y ., San Fran. (qu.)..
Dec. 25 to Jan. 2
1 % Jan.
M issouri KR , St. L ouis (quar.)
— t o ----------,3% Jan.
N ew p ort (R. I.) St. R y. p r e f.......
Jan. 15 Jan. 6 to Jan. 15
3
N orth Chicago St. RR. (q u a r .)...
----------i o ------------1
Jan.
4
Northam pton (Mass.) St. R y .......
South’n Elec. R y., St. L., p f. (qu.)
1 % Jan. 15 Jan. 11 to Jan. 15
T r u s t C o m p a n ie s .
to
Jan. 15
M e tr o p o lita n ........................
F ir e in s u r a n c e .
1 Jan. 21 to Feb.
2 % Feb.
B r o a d w a y ........................................
C ontinen tal...................................... 10 ) On dem. ----------- to -----Do
(e x tra )........................
5 S
to
3% On dem.
F arra gu t...........................................
to
Jan. 20
3
G lo b e ................................................
to
On dem.
5
H o m e ......... ......................................
to
On dem.
6
K ings C ounty..................................
On dem.
to
5
P a c ific ...............................................
m is c e lla n e o u s .
Claflin, H. B., com . (quar.)..........
1 % Jan. 15 Dec. 25 to Jan. 15
Do
do
1st pref. (q u ar.)..
1 % I Feb.
Do
do
2d pref. (quar.)..
1 *2 )
to
C ons’d K. C. Smelt.& R fg.pf.(qu.)
1% Jan. 15
1 Jan. 27 to Feb.
Feb.
2
Cons’ d Coal, M aryland (annual)
3 -----------to --------Jan.
4
H a rtfo rd (Conn.) G a s...................
1 Jan. 23 to Feb
2 % Feb.
H en derson B rid g e. .....................
----------- to
2
L ou isville G a s...............................
N. Y . <fc Penn. Telep. & T eleg___
1% Jan. 15 ----------- to
----------- to
Jan.
25
S treet’ s W. Stable Car L ine com..
*2
1 ----------- to
“
“
“
pref..
3*2 Jan.
W estinghouse A ir Brake.......
10
Jan. 10 Jan. 1 to
Do
do
(e x tra ).
? !
WALL STREET, FRIDAY. JAN. 14, 1 8 9 8 -5 P. M.
The Money Market and Financial Situation.—The in
creased activity and strength which was noted last week as
a feature of the security markets has continued with slight
interruption, notwithstanding the sensational reports on
Thursday morning of possible new complications in regard
to Cuban affairs. These reports were used by the bears with
very little success, as their frequent repetition seems to have
robbed them of their former depressing effect in Wall Street.
It is true that the best prices of the week have not been
maintained in all cases, especially in the market for stocks.
This is only natural, however, in view of the marked advance
which had recently been made, the decline being’ no doubt
due more largely to a desire to realize accrued profits than to
any fear of less favorable conditions in the near future.
In considering recent fluctuations of the stock market, it is
interesting to note that the largest gains have been made and
held by the better class of investment shares. Moreover the
bond market gives evidence of a growing confidence in
investment circles by a steady upward tendency. This confi
dence is stimulated by the belief that some progress will be
made with currency reform in Congress during the present
session.
The money market has grown easier this week; currency
continues to flow towards this centre and the tendency of
rates is downward.
The open market rates for call loans on the Stock Ex
change during the week on stock and bond collaterals have
ranged from
to 3 per cent. To-day’s rates on call were
2% to 3 per cent. Prime commercial paper is quoted at
o3*i to 4 per cent.
The Bank of England weekly statement on Thursday
showed an increase in bullion of £165,216 and the percentage
ef reserve to liabilities was 41*45, against 39‘17 last week; the
discount rate remains unchanged at 3 per cent. The Bank
of France shows a decrease of 7,759,000 francs in gold and
1,275,000 francs in silver.
The New York City Clearing-House banks in their state
ment of January 8 showed an increase in the reserve held
of $9,107,900 and a surplus over the required reserve of
$22,264,575, against $.5,788,750 the previous week.
Capital..................
Surplus.................
Loans & diso’nts.
Circulation...........
Net deposits.........
Specie...................
Legal tenders___
Reserve held.......
Legal reserve....
Surplus reserve
1898.
Jan. 8.
D ifferen’sfr’ m
Prev. week.
1897.
Jan. 9.
1896.
Jan. 11.
$
58,522,700
74,730.800
609,776,900
15,571,900
685.592.500
106.588.500
87,074,200
193,662,700
171,398,125
$
In c.1,995,300
Ino.
64,700
In c.10528300
Ino. 1.857,800
Ino .7,250,100
Ino .9,107,900
Ino. 2.632,075
$
60,772,700
74,888,100
491.116.200
18,907,800
548.038.200
76,893,000
104.108.000
181.001.000
137,009,550
$
61,122,700
73.017.100
458,208,400
14,002,600
491,268,800
71,346,200
78.654.100
150,000,300
122,817,200
22,264,575 Tno .6,475,825
43,991,450
27,183,100
►121
The Clearing-House, on Oct. 30, 1897, also began issuing
weekly returns showing the condition of the non-member
banks which clear through the Clearing-House institutions.
The statement in full for the latest week will be found on
the second page following.
Foreign Exchange.—There have been some slight fluctua
tions in the market for foreign exchange. The weakness
which was reported on Wednesday disappeared and the
market became steady to firm on Thursday, growing easy
again to-day.
To-day’s actual rates of exohange were as follows: Bank
’s sixty days’ sterling, 4 821£@4 82%; demand, 4 85(9
4 85%; cables, 4 85%@4 85%; prime commercial, sixty days,
4 81%@4 82; documentary commercial, sixty days, 4 81%@
4 82.
Posted rates of leading bankers follow:
Sixty days.
J anu ary 14.
Prime hankers’ sterling hills on London
Prime commercial................. ............ . . . . .
Documentary commercial..........................
Paris bankers’ (francs)...............................
Amsterdam (guilders) hankers..................
Frankfort or Bremen (reiohmarks) h’kers
4
4
4
5
Demand.
83 ® 4 83*2 4 85% ® 4 86
8 l% ® 4 82
81% ®4 82
213,, ® 21*4 5 20 ® 5 196ie<
947i8'@9412
403xe®40%
95lm ®95%
The following were the rates of domestic exchange 0»
New York at the under-mentioned cities to-day: Savannah,
buying % discount, selling 1-16 premium; Charleston, buy
ing 1-16 discount, selling 1-16 premium; New Orleans,
bank, par, commercial 85c. discount; Chicago^ 55c. per
$1,000 premium; St. Louis, 25@30c. per $1,000 premium.
United States Bonds.—Sales of Government bonds at the
Board include $29,000 4s, coup., 1907 at 113% to 114%;
$153,000 4s, reg., 1907, at 112% to 113%; $25,000 4s, coup.,
1925, at 129 to 129%; $5,"00 4s, reg., 1925, at 129%; $25,000
58, coup., at 115, and $5,000 5s, reg., at 115. The following are
closing quotations:
Interest Jan.
Periods.
8.
2s....................
4s, 1 9 0 7 ......... ..reg.
4s, 1907......... .coup.
4s, 1 9 2 5 ......... - reg.
4s, 1925......... .coup.
5s, 1 9 0 4 ......... ..reg.
5s, 1904......... .coup.
6 b. cur’cy.’ 99 . -reg.
4s, (Cher.)1898.reg.
4s, (Cher.) 1899.reg.
Q. -Mch.
Ö .- Jan.
Q,.-Jan.
<5.-F eh .
<3.-Feb.
<5. -F eh .
Q .-F eb.
J. & J.
March.
March.
Jan.
10.
* 99*3 * 99%
*112% *112%
*11378 114
*129 *129
*129
129
*114% *114%
*114% *114%
*103% *103%
*103% *103%
*103% *103%
Jan.
11.
Jan.
12.
Jan.
13.
Jan.
14.
*100
113
*113%
129%
*129
*114%
*114%
*103%
*103%
*103%
*100
*113
*114
*129%
129%
115
*114%
*103%
*103%
*103%
*100
113
1145s
*129%
129%
*114%
*114%
*103%
*103%
*103%
*100
112%
*11438
*129%
*129%
*114%
115
*103%
*103%
*103%
* Tills is the price hid at the morning board; no sale was made
State and Railroad Bonds.—Sales of State bonds at the
Board include $29 000 Virginia fund, debt 2-3s of 1991 at 69
to 6,J% and $10,000 Virginia deferred trust receipts, stamped,
at 5.
The railway bond market has been more active than of
late and generally strong, with a notable advance in some
issues. The volume of business at the Exchange has ranged
from $3,5( 6,000 to $5,265,000, and has averaged $4,307,500 par
value per day. For reasons noted below the Union Pacific
issues and bonds of allied companies have been conspicuous
features of the market. Transactions in the purchase money
certificates have been very heavy on an advance of over 5
points. Kansas Pacific 1st trust receipts advanced 6 points
and Union Pacific Denver & Gulf over 3 points. Seattle
Lake Shore & Eastern first trust receipts advanced 20 points
on a demand growing out of expected earnings from new
Klondike business. In sympathy with the stock, Manhattan
Railway consol. 4s advanced 3 points.
Special activity .is noted also in the Atchison, Chesapeake &
Ohio, Chicago Terminal, Erie, Metropolitan Street Railway,
Missouri Kansas & Texas, Northern Pacific, New York Sus
quehanna & Western, Oregon Short Line, Oregon Railway &
Navigation, Reading, Texas & Pacific and Wabash issues.
Railroad and Miscellaneous Stocks.—The market for
stocks has been decidedly active bat irregular during the
week. Transactions at the Exchange increased day by day
from 350,000 shares on Monday to 525,000 shares on Thurs
day, and were better distributed than usual. New York
Central and the shares of allied companies were conspic
uous for activity and strength, the former having sold up to
114%, an advance of nearly 4 points, while Lake Shore and
Michigan Central gained nearly as much. The local traction
stocks continue prominent, Manhattan Elevated leading in
an advance of 10 points, which carried it over 7 points above
the highest quotations of last year. This movement was
stimulated by the announcement that electricity is soon to be
substituted for the present motive power, and further by lack
of progress with new rapid transit plans. Union Pacific was
strong on reports that the reorganization committee will
retain the valuable Pacific coast connections formerlj’ held
by the old company. The market to-day was erratic and
closed generally weak and unsettled, with prices an average
of one point below the best of the week.
The miscellaneous list has been generally weak. American
Sugar has steadily declined to 138%, a loss of nearly 6 points,
and American Tobacco, General Electric and Western Union
close lower than our last quotation.
122
THE CHRONICLE,
NEW YORK STOCK EXCHANGE— A C T I V E
S T O C K S f o r week ending J A M .
HIGHEST AND LOWEST PRICES.
Saturday,
Jan. 8.
Monday,
Jan. 10.
13
13
1318 133s
30% 31%
31%
14%
14%
§14is 14%
38% 39%
38% 39%
*85%
86% 86%
53% 53%
54% 54%
97
98
97% 98%
*12
12% *11% 12%
22% 22%
22% 22%
«A lo 1 « 7 In *164% 167%
10 1
101% 100% 101%
'5 5
59
55
55
103% 104% 104 104%
15% 16%
15% 16%
*8%
9%
9%
*8 %
*30
32
32
*30
95% 96%
96
96%
144 144%
144 144
123 12338 122% 123%
1 64% 165
*164% 165
91% 92%
:91% 92
77% 77%
7 7 % 77%
Y48 152 *148 152
5%
6%
5%
5%
25% 25%
25
25%
35% 36%
355s 35%
*80
85
114 114
113% 114
155 155% 154% 155%
*11% 12
46% 46%
47
47
15
15
15
15%
38% 38%
383s 38%
20% 20%
•*130 ' 136 ‘ *130 136
106% 107% 106% 107%
*9%
9%
9%
9%
33% 33%
35
35
17% 17%
17% 17%
73
73%
72% 72%
176% 177
1 75% 177
56% 56%
57%
57
113% 114% 113% 114%
131% 13234 132% 133%
108 103% 104 104%
i *25% 26% *25% 26%
*85
87
*85
87
56%
56% 56% *56
12% 13
*12% 13
36% 36%
36% 36%
34% 35% 34% 35%
29% 30%
30% 30%
1103« 1 H % 109% 110%
13% 13% *13% 13%
*70
80
*65
78
37%
*36
37% *36
$188% 189 *188 190
16
163s 16%
16%
*7
10
8
8
23
27% 28%
27
*14
16
16
*14
46% 47%
48
48%
22
22%
21% 22%
61% 62%
60% 61%
37%
36
39
37%
*68
70
69
70
21
21
*20% 20%
39% 41
$40% 40%
*65% 67
*66
63
22% 23
23
23%
52
52%
51% 52
28% 28%
*28% 29
*22
*22
26
26
60% 61
61% 61%
*7%
8
*7
8
*50% 51
50% 50%
$19% 19%
19% 19%
§7%
7%
7%
7%
57% 57%
57% 58
26% 27%
27% 27%
*4
4%
4%
*4
9% 10
*9% 10
24% 25
V21
25
*80
*80
85
85
*121 124 $L23 123
21
21%
21
21%
938
9
*9
9
32% 3 2 38 31% 32%
11% 11%
11% 11%
28% 28%
28% 29
9
10%
9%
8
7%
7%
7%
7%
18%
19%
18%
18%
2%
3%
*2%
2%
12
10% 11%
1334
3 114
22%
§76%
*8%
20
143%
115%
91
117
4
180
*30
86
36%
37%
*107
3138
96%
22%
76%
8%
20
144%
115%
91%
120
4%
181
32%
86
37%
37%
107%
31%
97
4
4
26% 27%
7
§7
64% 65%
615% 15%
64% 64%
92»o 0 8 %
Tuesday,
Jan. 11.
12% 13
30% 31%
12% 13%
38% 39%
87%
87
53% 53%
96% 97
*11% 12%
22% 22%
*164
100% 101%
*56
59
104% 104%
15% 16%
8%
8%
*30
32
95% 96%
144% 144%
122 123
$164% 164%
90% 91%
76% 76%
*148 152
6%
25%
35%
8%
31%
11%
28%
9%
7%
18%
3%
13%
136
107%
9%
33%
17
73%
177
57%
115%
134
104%
25%
87
56%
13%
36%
34%
30
110
13 34
75
35
189%
16%
10
27
16
47%
23%
64%
40%
70%
21%
40%
67
22%
51%
28
21%
61%
8
49%
19
7%
57%
27
4%
10
25
35
124
21%
9
31%
12%
29%
10
7%
18%
3%
14%
22%
76%
23%
76%
23
76%
§8 %
8%
8%
23
76%
*7 %
19
20
19
143 144% 142
116 116 §116%
90% 91%
90%
116% 117% *115
4
4%
3%
179 180% 179
32%
*29
31
86
86
86
35% 36%
35%
37% 37%
35%
107 107
107
31
31%
31%
95% 96%
95%
4
4%
27% 28%
6%
7%
64% 64%
15% 15%
64% 64%
9>% 03«»
13
31%
13%
38
8g
53%
96%
*11%
22%
101%
*56
104
15%
9
30%
96%
145
123
*164
91%
77
*148
684
7%
26
26
36
34%
112% 113
153% 154
12
*11
47%
47
14% 15
38% 39
*130
106%
9%
33%
16%
73
176
56%
114%
132%
103%
25%
*85
*56
*12%
36%
34%
*29
109%
§13%
*68
35
§189%
16%
10
25
*14
47%
22%
62%
37%
69
20%
40%
65%
22%
51%
27%
§21%
*60
7%
§49%
§19
§7%
57%
26%
*4
*9%
*23
*80
*121
21%
Wednesday,
Jan. 12.
Thursday,
Jan. 13.
102%
59
104%
16%
9%
31
97%
145
123%
166
91%
77%
152
8%
28
35%
*80
85
§112% 112%
1 52% 153
12
13
X47
48%
15% 15%
39
39%
*19% 20%
130 130
106% 107%
*9%
9%
*32% 34%
17% 17%
73% 73%
176 176%
57% 58%
114% 116%
132% 133%
103 103%
*25% 26%
*85
87
*55% 56%
*12% 13
34% 34%
34% 35%
30
30
110% 111
*13% 14
*70
75
36
37%
§188 189
16% 16%
10% 10%
27% 28
15% 15%
47% 48
23% 24%
63% 64%
40
40%
70% 70%
21% 21%
40% 41
66
66
22% 23%
51% 52%
27% 28%
*22
26
61
61
*7
7%
50% 50%
*19
19%
7%
7%
57% 58
27
27%
*4
4%
9%
9%
*23
25
*82
87
123% 124
21% 22
8%
9%
32
32%
12
12%
30
31%
9% 10%
7%
7%
18% 19%
3%
3%
13% 16
19
143%
116%
91
117
4
183
32
86%
36%
36%
107
31%
97
22%
76%
§7%
19
140%
115
89%
117
3%
180
30
*84
35%
36%
§107
31%
96%
22%
76%
8
19
142%
115
90%
117
3%
180
31
86%
36
36%
107%
32
96%
4%
4%
27% 28%
7
6%
64% 65
15% 17
63% 64
92% 93
§4
27
7
64%
16
64
92
4%
28
7
64%
16
64
92%
13%
31%
13%
40%
87%
54%
97
12%
23%
SI « 5
IfiiSL
’ 100% iö i%
56
56
104 105%
15% 16
9%
9
30% 32%
95% 96%
§145% 145%
122% 123%
§165 165
90% 91%
77%
75
*148 152
8%
7%
26% 27%
34% 35%
85
*80
§113 113
151% 153
*12% 13%
47% 47%
14% 15
38% 38%
12%
30%
*13
39%
87%
53%
x95%
*11%
22%
lbb-1^
99%
*The se are bict and asked; no sale made. § Less than 109 shares.
STOCKS.
14,
a n d since J A M .
1, 1898.
Sales of
Range for year 1898.
the
[On basis o f loo-share lots.]
Week. -------------------- ---------------------- 1
Shares.
Lowest.
Highest.
A c tiv e R B , S to c k s .
7,266 12% Jan.
12% Atchison Topeka & Santa Fe.
31%
Do
pref. 39,445 29% Jan.
3,810 . 12% Jan.
13% Baltimore & Ohio.....................
41% Brooklyn Rapid Transit......... 94,908 36% Jan.
3,500 84 Jan.
87%
7,705 51% Jan.
55% Canada Southern.....................
4,970
96% Central of New Jersey............
94% Jan.
52 11% Jan.
12% Central Pacific..........................
23 Chesapeake & Ohio.................. 48,716 21% Jan.
191 §163 Jan.
Ib678 Chicago & A lton .......................
1 0 1 % Chicago Burlington & Quincy 107,235 97% Jan.
200 55 Jan.
DO
57% Chicago & Eastern Illinois...
4,000 102 Jan.
105% 105%
Do
pref.
15% 16% Chicago Great W estern......... 51,200 14% Jan.
3,608
9% 10% Chic. Indianapolis & Louisv.
8% Jan.
4,480 30 Jan.
31% 33%
Do
pref.
95% 96% Chicago Milwaukee & St. Paul 144,232 92% Jan.
1,885 142% Jan.
145 146
Do
pref.
13,286 119% Jan.
123 124% Chicago & Northwestern. —
602 163 Jan.
165% 165%
Do
pref.
90
91% Chicago Rock Island & Pacific 46,965 88 Jan.
4,225 ■75 Jan.
763* 77% Chicago St. Paul Minn. & Om.
Do
pref.
*148 152
§148 Jan.
4% Jan.
7%
8 % Chicago Terminal Transfer.. 27,123
26% 2 ;%
Do
pref. 20,580 22% Jan.
8,259
34% 35% Clev. Cincin. Chic. & St. Louis
33% Jan.
80 80 Jan.
§85
85
Do
pref.
1,040 111% Jan.
*112 114 Delaware & Hudson................
8,125 151% Jan.
*151 154 DelawareLackawanna&West
400 12 Jan.
*12
13 Denver & Rio Grande............
8,345 46 Jan.
47% .48
Do
pref.
1,940 14% Jan.
*14% 15% Erie...............................................
4,815 37 Jan.
Do
1st pref
38% 38%
100 20% Jan.
20%
Do
2d pref
*19
300 130 Jan.
133
136
Great
Northern,
pref..............
134 134
106% 107% 106% 107% Illinois Central........................ 18,662 102% Jan.
410
9% Jan.
*9
9% Iowa Central.............................
9%
9%
300 33 Jan.
Do
pref.
*33% 34% *33% 34
1,430
Lake
Erie
&
Western..............
16%
Jan.
§18
18
18
*17
3,115 70% Jan.
73
73
Do
pref.
73% 73%
5,295
Lake
Shore
&
Mich.
Southern
170% Jan.
176 180% 179% 179%
56% 57% 56% 57% Louisville & Nashville............ 42,860 54% Jan.
116% 119% 117 120% Manhattan Elevated, consol. 179,842 110 Jan.
133% 134% 133 133% Metropolitan Street................ 20,702 128% Jan.
18,995 100 Jan.
103% 105% 105 107 Michigan Central.................
200 25 Jan.
26 Minneapolis & St. Louis.........
25% 26% *25
360 85% Jan.
*85
87
Do
1st pref.
85% 86
300 56% Jan.
*55%
Do
2d
pref.
56%
56
*65%
2,800 12% Jan.
12% 13 Missouri Kansas & T e x a s___
12% 12%
6,577
35%
36%
Do
pref.
33% Jan.
35% 36%
33% 35 Missouri Pacific....................... 39,693 32% Jan.
34% 35
550
Mobile
&
O
h
io..........................
29 Jan.
*29%
30
30
*29
110% 114% 111% 114% New York Central & Hudson. 90,660 105% Jan.
1,445
New
York
Chicago
&
St.
Louis
13 Jan.
14% 14%
14%
14
*65
75
Do
1st pref.
75
65
3,900 35 Jan.
Do
2d pref.
38
38
39
37
714 §178% Jan.
188 188 §188 188% NewYork New Haven & Hart.
15% 16% New York Ontario & Western. 10,210 15% Jan.
15% 16
570
12 New York Susq. & West., new
8 Jan.
11
11
§11
9,285 23 Jan.
Do
pref.
28% 29
27% 28%
Norfolk
&
W
estern.................
343
*14
15%
Jan.
16
16
*15
4,586 46% Jan.
Do
pref.
47% 47%
47%
47
121,805
25%
Nor.
Pacific
Ry.,voting
tr.ctfs.
24%
20%
Jan.
24%
24
Do
pref. 178,300 58 Jan.
62% 63% 63% 64%
5,742 35% Jan.
42% Or.RR.&Nav. Co. vot. tr. ctfs.
40
39% 40
2,808 68 J an.
70%
Do pref., vot. trust otfs.
70
70
§70
Oregon
Short
Line...................
4,474
21
20%
19% Jan.
21
20
8,117 38% Jan.
40% 41% 40% 41% Pittsburg Cinn. Chic. & St. L.
Do
pref.
300 65% Jan.
65% 65%
*65% 68
22% Reading, voting trust certif s.
7,510 21% Jan.
22
22
22%
51% 52% 1st pref., voting trust certs. 17,770 49% Jan.
51%
51
4,005 27 Jan.
27% 27% 2d pref., voting trust certs.
28
*27
25 §21% Jan.
26 Rio Grande Western................
*22
*22
26
Do
pref.
565 59% Jan.
59% 59%
59% 59%
300
7% St. Jos. & Gd. Isl., vot. tr. ctfs.
7% Jan.
*7
7%
*7
Do
1st pref.
563 50 Jan.
*49% 50%
*50
51
Do
2d pref.
284 18% Jan.
19% 19% *18% 19%
7% St. L. & San Fr., vot. tr. ctfs.
1,576
7% Jan.
7%
7%
7%
1,872 56% Jan,
Do
1st pref.
§57% 58
§57% 58
Do
2d
pref.
26%
5,715
26
26 Jan.
26% 27
4 % St. Louis Southwestern...........
*4
*4
4%
Do
pref.
9%
339
9% Jan.
9%
*9%
9%
400 20% Jan.
23 St. Paul & Duluth.....................
23
23
23
Do
pref.
§84% 84%
90 §82 Jan.
§82
82
458 12a% Jan.
124 124 *122 124 St. Paul Minn. & Manitoba...
1,920 20% Jan.
21% 21%
21% 21 *2 Southern Pacino Co.................
9 s, ISouthern, voting trust, certif. 10,168
9%
8% Jan.
9%
9%
Do pref., voting trust cert. 15,897 29% Jan.
31% 32
31% 32%
7,434 10% Jan.
11% ll%|Texas & Pacino........................
11% 11%
30
31
31% 32% Un. Pae., tr. reo., all mst. pd. 148,349 25% Jan.
9% Un. Pac. Den. <$5 Gulf tr. rects. 36,739
9%
6% Jan.
9%
9%
2,465
7% Jan.
7% Wabash........................................
7%
§7%
7%
Do
pref. 28,139 17% Jan.
19%
19% 19%
19
3% Wheel. & L. Erie, $1 ass’tp d . 29,580
3%
2 Jan.
3
3%
Do
pref. do.
6,312
9% Jan.
13% 14%
13% 14%
M is c e lla n e o u s S to c k s .
22
22
21% 22 American Cotton Oil Co.........
3,690 21% Jan.
Do
pref.
76
76
570 75% Jan.
*75% 76%
842
7%
7% American Spirits Mfg. Co___
7%
7%
7% Jan.
Do
pref.
19
19
920 18 Jan.
19
*18
American
Sugar
Refining
Co.
310.644 1S8% Jan.
138% 140% 138% 139%
Do
pref.
114 114
1,613 113% Jan.
112% 113%
89
90
89% 90% American Tobacco Co___ . . . . 24,839 87% Jan.
Do
pref.
665 113% Jan.
*116 118
117 117
3%
3%
3%
3% Bay State Gas............................ 12,505
3% Jan.
5,420 176 Jan.
180% 181% 181% 181% Consolidated Gas Company..
30
2,628 30 Jan.
32%
32% 33% Consolidated Ice C o ................
Do
pref.
625 85 Jan.
86% 86%
86% 86%
34% 35%
34% 35% General Electric Co.................. 22,524 33% Jan.
2,238 35% Jan.
35% 36%
36% 36% National Lead Co....................
510 106 Jan.
Do
pref.
106% 106% *106% 107%
30% 31%
30% 31% Pacific Mail............................... 10,555 29% Jan.
96
96%
96% 98% People’s Gas L. & C. of Chio. 48,620 95 Jän«
5,000
'57% 58
*57% 58% Silver Bullion Certificates.. . .
1,201
4% Standard Rope & T w in e ......
3% Jan.
4
3%
*3%
Tennessee
Coal
Iron
&
R
B
.,.
27,336
25% Jan.
26% 27
26% 26%
1,738
6% Jan.
6%
7 United States Leather Co . . . .
6%
§7
5,329 63% Jan.
Do
pref.
64
64% 64%
64
3361 l o 1^ Jan.
17
16
15% 15% United States Rubber Co.......
Do
pref.
9 4 5 63% Jan.
63% 63%
63% 63%
91% 92%
91% 92% Western Union Telegraph.... 45,992 89% Jan.
12%
30%
13
38%
87
53%
54
95%
97%
1 2 % §11%
23%
22%
13%
31%
13%
39%
88
Friday,
Jan. 14.
[V cl. LXYI.
Ï’3 T ‘ F o r
4
4
11
5
6
3
4
4
4
7
4
8
7
4
5
5
4
3
4
3
5
5
13% Jan.
31% Jan.
14% Jau.
41% Jan.
88 Jan.
55% Jan.
98% Jan.
11% Jan.
23% Jan.
§166% Jan.
102% Jan.
56 Jan.
105% Jan.
16% Jan.
10% Jan.
33% Jan.
97% Jan.
146 Jan.
124% Jan.
165% Jan.
92% Jan.
77% Jan.
5 §151%Jan.
3
8% Jan.
3 28
Jan.
5 36% Jan.
7 80
Jan.
3 114
Jan.
13 156 Jan.
12 13 Jan.
3 48% Jan.
5 15% Jan.
4 39% Jan.
8 20% Jan.
12 134 J an.
5 107% Jan.
8
9% Jan.
6 35 J an.
7 17% Jan.
3 73% Jan.
4 180% Jan.
5 58% Jan.
4 120% Jan.
4 134% Jan.
4 107 Jan.
5 26% Jan.
13 86 Jan.
6 56% Jan.
5 13 Jan.
5 36% Jan.
4 35% Jan.
5 30% Jan.
3 114% Jan.
3 14% Jan.
7
12
7
14
12
14
7
7
12
14
12
13
14
8
14
14
12
14
14
14
10
7
7
7
3
8
10
12
10
4
5
7
5
3
5
14
6
4
4
11
13
11
5
5
5
3
4
13
11
7
5
6
12
8
14
12
14
39 Jan.
§189%Jan.
16% Jan.
18 Jan.
34 Jan.
15% Jan.
48% Jan.
25% Jan.
64% Jan.
42% Jan.
70% Jan.
21% Jan.
41% Jan.
68% Jan.
23% Jan.
53 Jan.
29 Jan.
§21% Jan.
61% Jan.
8 Jan.
51 Jan.
20 Jan.
7% Jan.
58 Jan.
27% Jan.
12
12
10
7
8
4
12
12
7
7
8
13
10
13
8
12
12
13
12
14
13
14
7
13
7
8
10
8
6
13
13
11
12
14
4
6
7
6
11
8
7
7
7
8
8
7
12
9%
6 25
13 §84%
12124
4 22
4
9%
4 32%
5 12%
3 32%
5 10%
4
7%
4 19%
3%
5
4 16
Jan.
Jan.
Jan,
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
13
8
14
12
12
12
12
12
14
10
12
13
11
12
14 23%
5 76%
14
8%
3 20
14 145
14116
3 91%
14 117%
4
4%
3 183
12 33%
7 89%
4 37%
5 37%
3 107%
3 32
4 98%
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
10
10
5
3
7
6
7
10
8
11
14
4
8
7
7
12
14
3
4% Jan. 11
4 28% Jan. 11
13
7% Jan. 10
3 65% Jan. 8
14 16% Jan. 3
11 64% Jan. 8
4 93% Jan. 10
In a ctive Stocks, see fo llo w in g uage.
J anuary
15,
THE CHRONICLE.
18V8.J
NEW YORK STOCK EXCHANGE PRICES (Contimied )— I N A C T I V E
1
INACTIVE STOCKS.
Bid.
- ndleates unlisted.
Range (sales) in 1898.
Jan. 14.
Ask.
Lowest.
123
STOCKS.
Range (sales) in 18S 8.
J a n . 14.
I n a c tiv e St o c k s .
If Indicates unlisted.
Highest.
Lowest.
Ask.
Bid.
m iscellaneous Stocks.
R ailroad Stocks.
.100
.100
..100
100
.100
S a ri ledar R a p i d s * N o r ... .100
.100
.100
.1
00
C iev
.100
..
50
Oleve and
Pittsbur«----100
„100
„100
„100
.. 50
.. 50
Preferred
—
—
-1 0 0
Flint & Pere Marquette...
„ ’ O0
„100
Green B ay &
1000
„100
100
„m o
Preferred .
„100
Long Island.
„100
. 50
A lbany & Susqueh ann a..—.
Ann A rbor..........................
mo
182
12
34
26
183
Jan.
13
35
29%
65*3
34 Jan.
29*4 Jan.
65*3 Jan.
72 Jan.
70
34*g 36
35*2 Jan.
124 >4 25^8 24*4 Jan.
11718 18°g 15*4 Jan.
48 Jan.
149»*
....
168*a
5*4 Jan.
17
17 Jan.
20
23
12** Jan.
112*3
70
23 Jan.
23
28
41 Jan.
45
41
......
30
40
__ .
120»
2»«
14
37
1
1175
....
....
30 Jan.
....
21*8 20 Jan.
4
....
16
37 jan.
40
__
1*3
,167*3 Jan.
183
Jan.
....
35 jan
30*4 Jan.
6734 Jan.
72 Jan.
36 Jan.
2 5 s8 Jan.
19*4 Jan.
4 9 78 Jan.
10 0
Jan.
Jao.
-■
■
■
-
....
....
10 0
10 0
10 0
10 0
.1 0 0
10 0
10 0
Jan.
2 1 7a Jan.
....
too
38*9 Jan.
___
175 Jan.
Bid.
N. Y.
Alabama—Class A , 4 to 5 ....1 9 0 6
107
107
10 0
Currency funding 4 s............ 1920 1 0 0
Arkansas—6s,fund,Hol.l899-T900
>9 *4
SECURITIES.
Ask.
io'i
10 0
10 0
10 0
10 0
10 0
10 0
- ...
Î30*s
48
|47
’ 93
45
.....
Bid.
jan.
9178 Jan.
12 2 * 4 Jan.
2 6 4 Jan
7* 2 Jan.
Jan.
Jan.
Jan.
234
43
44
93
Jan.
Jan.
Jan.
Jan.
31*4 Jan.
50 Jan.
4758 Jan.
94*a Jan.
58
17
Jan.
Jt n.
58*2 Jan.
19 Jan.
7»a Jan.
7»* Jan.
......
.....
119
7*3
7
............
58
9
8
......
...............
..
4 7$ Jan.
438 Jan.
4%
Î48f>
3*4 Jan
4*9
3*4 Jan.
3
. 50 330 370
177
Jan.
173
Jan.
Ì176
177
.1 0 0
3*3
too
1*4
3
8
mo
IOC
6*4 Jan.
5% Jan.
......
'lò ó
42 Jan.
40 Jan.
40
45
.1 0 0
116
Jan.
113 Jan.
.1 00 !ill4 % —
BONDS J A N U A R Y
14.
SECURITIES.
Ask.
Missouri—Fund.............. 1894-1895
North Carolinar-6 s, old............ J&J
Funding act............................1900
New bonds, J&J.........1892-1898
Chatham RR....................................
Special tax, Class I ........................
Consolidated 4s..................... 1910 101*4 103
6 s....................
1919 125
¡South Carolina—4*ss, 20-40..1933
■ 6 s. non-fund_____ _________1888
31
50
4708
94*3
55
Jan.
120
50
SO Jan.
127 »a Jan. 129
110 Jan. 110
126*3 130
1 oo i l i o
NEW YORK STOCK EXCHANGE PRICES . - S T A T E
SECURITIES.
.....
50
Highest.
Jan. 162
116 ‘ Jan.
___
7 78 Jan.
23 Jan.
13 Jan.
30
140
10 0
9178 90 Jan.
Jan.
1 0 0 |120*3 121*4 119
.1 0 0
2 3 4 Jan.
25 *• 26
10 0
76
70
10 0
6
Jan.
7*8
.1 0 0
6 78
....
1 0 0 175
41
10 0
....
25
41
157
Adams E x p r e s s .................... 1 0 0 il 62
American Bank Note Co I f. . . .
25 1 2 0
1 0 0 Î1 2 0
__ 320 Jan. 320 jan.
.. 50
1121 Jan. 121*4 Jan.
..1 0 0
- 50 1117 11738 1 1 4 1 4 Jan. 1173a Jan.
1 Jan.
l
78 Jan.
1*3
Peoria Decatur & Evansville.„10C
....
....
5
7
169
Jan.
170
Jan.
100 169
1
100 176
122
Jan.
Ì23
Jan.
100 1122
„ lb O 1176 18 6 * 3 164 Jan. 186*3 Jan.
1
o
238
Jan.
ioni 1 1 0 0 %
7s Jan.
2% Jan. IWells, Parvo Express
2%
vot. tr.ctfs. . . 1 0 0 1 12
Wisconsin
* No price Friday latest price this week.
X Actual sales
New consols 4°
(\ Indicates actual sa le sJ
Tennessee—6 s, old.........1892-1898
6 s,
w bonds.......... 1892-8-1900
Do
New series.... 1914
Compromise, 3-4-5-6s...........1912
New settlement 3s................ 1913
R edem ption 4 s .. . . . . . . . . . . . . 1 9 0 7
Do
4*28 .............
1913
P enitentiary 4 * 2 8 ................ 1918
Virginia funded debt, 2-3s.. . . 1991
6 h. deferred t’st reo’ts, stamped.
Bid.
A sk .
89
91
New York City Clearing House Banks.—.Statement of con HReports o f Non-Member Banks.—The Clearing-House now
dition for the weak ending January 8, based on averages of also publishes returns for non-member banks. Statement of
daily results. W e om it tw o ciphers ( 0 0 ) in all cases._______
Deposit, with,
Jan . 8, 1898.
(00s omitted.)
Capital Stirpi’s L oans.
Bank of New Y o r k ..!
Manhattan Co.
Merchants’ —
Mechanics’ —
Am erica..........
Phenix.
C ity .
Tradesmen’ s .
Chemical----Merchants’ Exch’ge
Gallatin.
Butchers’ * Drov’rs’
Mechanics’ * Trad’ s’
Greenwich.
Leather M annfac’rs’
Seventh. .................
State of New York..
American Exchange
Commerce.
Broadway..
Mercantile.
P acific.
■Republic..........
Chatham----- ..
People’s ..........
North America.
H anover...... .Irving.
Citizens’
N assau.
Market & Fulton...
Shoe & Leather.
Com Exchange.
Continental........
Oriental ............
Importers’ * Trad’rs
Park -- ......
Bast R iver___
Fourth,
Central
Second.
N inth..
F irs t.
N. Y. Nat’l Exch’ ge.
Bowery.
New York County..
German American..
Chase...............
Fifth Avenue.
German Exchange..
Germania.................
L incoln.
Garflel
Fifth.
Bank of the Metrop.
West Side.
Seaboard..
Sixth.
W estern,
First Nat. B ’k lyn...
Nat. Union Bank...
Liberty.
N. Y. Fred. E xch’ge.
Bk.of N. Amsterdam
Total
Specie. Legale. Deposits,
$1,900,6 $13,650,0 $2,451
2 , 100,8 15,097,0 2,90'
1,060,9 11.426.8 2,101
9.276.0 1,51!
2.087.6
2.697.2 19,469,6, 3,32
27.
246.6 3.980.0
3.746.8 69.206.8 15,306,9
317,4
120,8 ---------5.807.0
7.454.7
883.6
180,9
674.0
1.663.9
219.8
169.3
280.0
228.6
106.4
163.4
603.2
489,8
317.0
90,6
152.3
496.7
2.549.0
2.480.8
2.360.3
3.569.0
973.5
1.634.2
1.039.8
1.030.0
293.9
465.4
2,956,6
868,2
738.4
988.0
177.1
250.8
1.708.9
554.4
5.340.1
2.196.0
258.3
359.0
496.7
407.0
175.5
264.3
706.0
1.021.1
489.5
159.5
1.482.3
1.314.0
961.5
204.1
170.6
406.3
4.377.0
6.715.1
8.220.0
3.265.7
173,Q
145.4
4.129.5
2.056.7
1.768.0
519.1
956.0
689.9
544.3
282.4
3.753.4
7.012.9
63,4
161.3
425.0
618,8
727.8
434.2
295.0
283.7
6.064.6
1.496.9
1.491.0
1.113.8
268.4
570.7
562.4
711.4
1.056.7
646.1
1.061.4
810.3
324.8
312.1
977.2
816.8
257.0
341.1
1.630.0
324.8
217.0
343.6
2.826.0
587.8
598.3
957.5
2,196,0
786.6
332.1
290.8
564.7
314,0
499.8
277,5
.............'68,522.7 74,730.8 609.776.9I1065885
BANKS.
(00s omitted.)
Surplus.
Legal
Tend’r Clear- Other
Net
Loans &
& B’k ing Bks. & De
Investniente. Specie. Notes. House Trust posits.
Agent. Co’s.
Astor Place...........
Clinton...................
Colonial........
Columbia...............
Eleventh W ard....
Fourteenth Street.
Franklin National.
Gansevoort...........
Hamilton....... .
Hide & Leath. Nat.
Hume.....................
Hudson R iver.......
Mount M orns. ..
Mutual...................
Nineteenth Ward.
P laza.....................
RD erside...............
Standard National.
State................. .
Twelfth W ard......
Twenty-third W ’d.
Union Square........
Y orkville...............
$
$
$
$ „
$
$
250.0 355,6 2,392,1 197,2 40,4 259,7 188,3
91,2
722,8
300.0 29,4 854.6 65,6 23,9
143,0
751,1
523,5
10,1
97,6
100.0 48,6
300.0 185,8 1,780,0 121,9 101,4 161,2 52,7
89,2
326,2
944,0
75,0
112,6
100.0
963,4
44,1 787,3 19,6 87,3 143,0
100,0
480,0
60,0
200,0 31,2 536,0 80J) 14,0
8,6 42,8 19,5
5,6
492,9
24,3 749,3
200,0
200,0 94,5 1,272,9 53,7 48,0 93,3
500.0 144,6 1,941,5 247,5 20,2 78,8
596.7
100.0 81,8 474,9 90,8 85,1 39,4 23,5
37,0 51,0 167,0
1,008,0
200,0 186*8 1,015,0
250.0 82,0 1,359,4 78,8 84,0 87,0 35,0 •,555,8
889.1
94,7 965,2 24,9 98,3 123,8
200.0
882.1
22,3 630,0 39,1 110,2 97,3 70,5
100,0
111,1
214,9
,217,0
9,51,091,9
105,7
100,0
8,0 47,9 84,0
697.7
94,3 689,4
100,0
6
280,9
27,8 422,0 15,1 46,8 66,2
200,0
65,0 1,513,0 66,0 34,0 89,0 133,0 1.720.0
100,0
1.370.8
200,0 148,7 1,093,3 23,7 128,6 135,1
861,1
42,8 679,9 26,1 101,9 75,6 71,8
100,0
2.382.4
200,0 269,9 1,868,7 63,5 187,2 314,8
1.239.2
87,6 90,4 174,0
—
100,0 114,5 1,106,0
Bedford................
Broadway..............
Brooklyn..............
Eighth W ard......
Fifth Avenue......
F ulton...................
Kings County.......
Mauafact’rs’ Nat’l
Mechanics.............
Mech’ s’ & Tradr’ s
Nassau National..
National City........
North Side...........
People’ s................ Queens Co. (L.I.C.)
Schermerhom. .
Seventeenth War.
Sprange National..
Twenty-sixth W ’d .
Union...
........
Wallabout............
150.0 110,3 986,8
100.0 115,7 1,303,6
300.0 165,3 1,433,5
31,0 269,6
100.0
51,2 519,4
100.0
856,8
200,0 180,9
150.0 78,9 72*,2
252.0 398,6 2.446, »
500.0 426,9 2,515,7
100.0 189,2 1,011,0
300.0 581,6 4.465,0
300.0 574,4 2.348,0
889,4
100.0 108,1
792,3
100,0 106,0
100,0 117,6 1,927,7
58,8 560,4
100,0
66,2 409,9
100,0
200,0 220,5 1,014,4
51,2 481,8
100,0
322,5
48,1
100,0
31,5 488,4
100,0
N e w Y o r k Ci t y .
Brooklyn .
87.074.2 685.592.5
Capi
tal.
30,7
24,9
89,9
12.1
24,9
58,3
45,4
248,5
107,8
53,8
312,0
117,0
10,8
38,4
94,5
34,1
9,9
94,5
10,1
9,9
13,2
51,7
211,7
92,4
32,9
29,3
46,0
32,5
398,6
142,5
41,4
232,0
470,0
64,5
32,1
136,0
12,7
55,9
10,0
20,2
19,8
44,2
91,4
97,3
244,6
44,6
75,9
236,6
88,4
508,2
213,7
73,7
978,0
511,0
93,2
80,2
604,7
57,4
130,5
200,0
63,5
35,4
68,5
85,0 1.096.0
1.492.9
28,8 1.574.2
1,0
217.1
510.7
37,1
891.1
722.2
3.097.5
2.829.9
989.4
15,7
90,0 5.054.0
152,0 3.171.0
339,9 1.194.2
856.2
51,0
131,3 2,668,4
510.8
444,0
4,5
100,0 1.025.0
499.3
13,5
259.5
10,0
489.9
2,0
O t h e r Cit ie s .
526,2 488,1 3,890,8
1st Nat., Jer. City. 400.0 730,9 3,412,7 124,7 220,8
81,6 509,9 241,6 2.283.6
Hurt. Co. Nai. J. C. 250.0 507,4 1,923,1 122,1
1.546.0
53,9
694,7
62,7
1,409,4
393.1
2d Nat., Jer. City..
918.9
165,5 721,5 29,1 56,7 258,5 42,9
3d N a t, Jer. City..
1.637.7
203,8
39,9
215,4
102,7
1,539,2
409,9
1st Nat., Hoboken.
815.3
59,4
32,8
50,4
41,3
773,1
82,7
2d Nat., Hoooken.
601.4
9
42,6 536,6 13,6 18,1 74,6
Bank of Staten Isl.
612,8
24,6
121,8
20,5
71,6
597,1
1st Nat.,Staten Isl.
2 ,7 4 0 ,1
4,44b,I
0
8
^
2
2
,*
,
7,
400,-1
ótJSSá
Totals Jan. 8...
0 8 ^ 2 2 ,-, bi,içq ,4 3¿42.¡ 48*7rf 8 , 7 ob,c 2,494.9
Totals Dec. 31...
0 8 j 2 2 .', 6o,6q4.¿ \3J454 4.obs,c, 8,415.‘ 2 .6 0 b,b
Totals Dec. 24...
VW F o r p rices o f b a n k s to ck s (fo rm e r ly g iv e u ou th is page) an d
su m m a ries o f th e w e e k ly r e tu rn s o f th e ba n k s in N ew Y o r k City«
P h ilu d elD h ia an d B o sto n , see th e th ir d p a g e p r e c e d in g ..
THE CHRONICLE.
124
BOSTON, P a i L ^ U K L P d l A
AND BALTIMORE STOCK EXCHANGES.
0 T S ita re P r ic e * — n o t P e r C e n t u m P r ie e e .
Active Stocks.
ITIndicates unlisted.
[V o l . L X V I.
Saturday,
Jan. 8
Monday,
Jan. 10.
Wednesday, Thursday,
Jan. 12.
Jan. 13
13
13% 13 13
Friday.
Jan. 14
Sales
Bange of sales in 1893
of the
Week,
Lowest.
Shares.
Highest.
1,942 12% Jon. 5 13% Jan. T
40 ’ 12% Jan. 11 13% Jan. 6
643 66 Jan. 4 63 %Jan. 12T
449 I 23 % Jan. I > 23% Jan. 3
819 I 23 Jan. 8 23% Jaa. 5
202 219% Jan. 3 222% Jan. 13~
29 219 Jan. 4 221 Jan. 10226 167% Jan. 3 171 % Jan. 7
6-« 9 Jan. II 9% Jan. 106 54 Jan. 3 54 J an. 3
18.613 98 Jan. 4 102 Jan. 12
9,110 93 Jan. 4 9 7% Jan. 12*
4,^29 9 « Jan. 4 10% Jan. 89,864 27% Jan. 4 30 Jan. 11
692 98% Jan. 3 100 Jan. 6;
2, 0^6 25 Jan. 12 26% Jan. 3
1,235 130% Jan. 3 134 Jan. 11
1,200
6 Jan. 3i 6% Jan. 12'
25 80 Jan. 10 80 Jan. 10115 76% Jan. 14 76% Jau. 14
32.530 20% Jan. 4 2*% Jan. 14
11,53' 58 %Jan. 5 I 64% Jan. 12
24 187 Jan. 13 190 Jan. 69,074 57% Jan. 4] 5 ■<%Jan. 13
15,314 78% Jan. 3 81% Jan. 1&
11.293 10% Jan. 41 11% Jan. &
19.774 25% Jan. 4! 32 Jau. 14
43,036 12% Jan. 3 14% Jan. 13
42,939 139% j an. 141417g Jan. 7
400 113% Jan. 14 116% Jan. 6
694 26 ! Jan. 4 2 12 *« Jan. 1A
4.877 149% Jan. 4 15 Jan. 8
19.775 23 s Jan. 14 26 Jan. &•
44 489 Jan. 3 500 Jan. 7
Atoh. T. A S. Fe.(Boston) .100
133a 13 13
12% 13
12% 12%
Baltimore & Ohio (B alt.). 100
12% 13
*12% 14
Balt. City Pass’ger “
25
6 6 % 67
*65% 66% 66
68% 6 8 % 6 8 % *68% 69%
Baltimore Consol. “
25
*23% 23% 23% 23% 23% 23% *23 23% 23% 23%
BalthnoreConsol.1TIPhü.). 25
23 23
23 23% 23 23
*23 23%
Boston A Albany (Boston). 100
220 222
222 222
222 222
222% 222% 222 222
Boston A Lowell
100
221 221
*221 225 *221 225 221 221 *221
222
Boston A Maine.
«
100
171% 171% 171 171% 171 171 171 171 170% 170%
Central of Mass.. *
100
9% 9% *9 10
*9 10
*9
10
9
9
Preferred......
•*
100
54 *54 ....... *54
54
*54 .. .. ■ *54 56
Chlo.Bur. A Quin. “
100
101 101 % 100 % 101 % 101%102
100% 1013g 100 1013s
Ohio.MU.A St. P. (PAtL).lOO
96% 97% 95% 96% 95% 96%
95% 96% 95% 96
Choc.Ohla AGulf “
50
10% 10 % 10 % 10% 10% IO 10 *10
10
10 %
___________
«
gg
Preferred
29% 29% 29% 30
29% 30
29 29
23% 29%
Fitchburg pref. .(B oston ). 100
99% 100
99% 991« 99% 100
99% 997g 99% 10^
Lehlgn Valley.. (P h ila .). 50
25% 26
25% 26
25 25% 25% 253g 2*% 25%
Metropol’n Str’tfT “
100
134 134 133% 134
133% 134 '132% 133
Mexican Cent’l ( B oston).\00
6
6
6% 6%
6 % 6%
6%
6%
*6%
6%
Hew England.... “
100
*25 30
Preferred.......
"
ioo
80 80 *80...........
84
*80" " I " . *80 . . . .
*80
82
Northern Central ( B a l . ) . 50 *....... 79
—. 78 '....... 7« I* ..... 78 *........ 78
76% 76%
Northern Pacific (P h ila .)\ 0 0 22 221« 22% 22% 22% 23% 23% 24% 24
21% 24% 25%
-■pPreferred
** 100 600g 6134 61% 62% 62% 6 1
61% 64% 63
61
6 % 64%
Old Colony___ (Boston 1.100 '....... 190
.......189
188% 188%' 189 199 187 187
188
Pennsylvania... (P hila .). 50 58 583« 58% 58% 58% 58% 58% 58% 58% 58% 188
58% 58%
Philadelph. Trao. “
50 79% 79% 79% 79% 79% 80% 80% 81
81
81% 81
81%
Beading C o......
“
50 ll»r« 11% 11% 11% 11% 115,« 11516 11% 11% H 5le 1H,6 U5lft
UnionPacific} .(B o sto n ). 100 28% 28% 28% 23% 28% 29% 30
31% 30
31
31%
32%
Union Traction.. (P h ila .). 50 1334 13% 13% 13% 13% 14
13% 14
137g 14% 14
14%
m iscellaneous Stocks.
Am.Sug’r Refln.U(B oston ) __ 143% 144% 143% 144 142 143% 140% 142% 133% 140% 138% 139%
Preferred......
“
115 115 115% 116 116 116 115 115 114 114% 113% 114
BeU Telephone..
“
100 265 267 266% 269 268% 269% 269 269 269 271% 272
Bost. A Montana. “
25 155 155% 154% 155% 154%155 155 155% 152% 155 152% 272%
Butte A Boston.! *«
25 24% 25% 23% 24% 24 24% 24% 24% 23% 24% 23% 154%
24%
Calumet A Hecla “
25 499 500 498% 500 499 499 499 500 493 498 498 499%
Canton C o......... (B a lt.). 100 *67 80
*69 80
80
*69
*65
70
Consolidated Gas “
100 ...... 53
52% 53% 53% , 55
55" 56% 56% 56% 56% 57% 2.311 52k Jan. l<> 5 7% Jan. i4>
Dominion Coal (B oston ). 100 22
22 % 22 ‘ 22
*2 1 % 2 2 %
22
22
21 % 22%
21
21 %
1,661 21 Jan. 14 24 Jan. 3
Elec.Stor. Bat’yU(Pn.ua.;. 100 28 29
29 29% 28
2 7% 27% 27
28
27
26% 26% 2,935 26 Jan. 4 29% Jan. 10
Preferred If
“
100 30% 31
31% 32
31
31
29% 29% *28% 30
927 29% Jan. 3 3 t Jan. 10
Erie Telephone. (B oston). 100 72% 72% 72 72% 71% 72% 71% 71% 71
71
7L 71
352 7 Jan. 13 72% Jan. 5<General Electric. “
100 37 37% 35% 36
3S% 36% 35% 35% 34% 35
35
35
2,455
34% Jan. 3 3 7% Jan. 8
Preferred......
•* 100 *85 87
85
85
*85 90 *85
90
86
89
88
88
360 84 Jan. 3 89 Jan. 12Illinois Steel....
“
100 49 49
497g 49% 50 *48% 50
49 49% 49
43
49%
2,410
48
Jan. 3 5 Jan. 12
Lamson StoreSer
“
50 * 20 % 21
2 0 % 21
21
2 1 % *21
21 %
21
21% * 20 % 21
161 20% Jan. 1 >| 21% Jan. A
Lehi’h OoalANav. (F h ila .) 50 *41% ___ *41%
42% 43
43
43
43
43
.....
43
107
41%
Jan. 3 43% Jan.
N.E.Telephone (B oston ). 100 '128 130 128 130 129 130 130 130
130
131
83 127 Jau. 3130 Jan.
Pa.Heat,L.APowfPAifaJ.._.. 19% 19% 18% 19% 19% 19% 19% 19% 19 % 19% *130
19%
19%
5,762
18%
Jan. 3 19% Jan.
Unit’d Gas Imp.If “
50 99% 99% 98% 99% 93 98% 98
99% 99 99% 98% 99% 7,1.66 9 < Jan. 11 100 Jan.
Welshaoh Light 1) “
5
41
41
*41
42
14
41
Jan.
6 42 Jan.
West End Land..(B oston )..*. *T% " 1 %
1% 1% * 1 %
1
1 % *1% 1%
1
5 1 Jan. 13 1% Jan.
*1%
1%
*Bid and asked prices; no sale was m ade.
$ 1st instai. paid.
t 2d instal. paid. t Trust reo.,all instai, paid.
IS
Bid. Ask.
inactive 8tocks»
Bid. Ask.
Bonds.
Bid Ask
Bonds,
Prices o f Janu ary 14.
Boston United Gas, 2d m. 5s..1939
Pa.A
N.
Y.
Can.,con.
5s.l939,
AAO
106%
Atlanta A Charlotte (Bau.) .100 99
Burl. A Mo. River Exempt 6s, JAJ
People’s Trao. crustoercs. 4s.. 1943 104
Boston A Providence (Boston).1on 2«7 270
Non-exempt 6s.......1918. JAJ
Psrklomen, 1st ser.,5s.l918, Q—J 101
“
100 61% 62% Plain 4s..................... 1910, JAJ
Boston Elevated......
Palia. A Erie gen. M. 5g. ,1920, AAO 119% ___
Oatawlssa—
. . . . . (P hila.). &u
Ohio. Burl. A Nor. 1st 5,1926, AAO
Gen. mort., 4 g.........1920, AAO l'»7%
1st preferred.......
“
50 ’ 52% 'ö l '
2d mort. 6s.............1918, JAD
Phila A Read. 3d, 5s...1933, AAO 128
Central Ohio............ (Bait.) 50 21
22 lOhio. Burl.A Quincy 4s ,1922, FAA
Consol, mort. 7s...... 1911, JAD 132%
Chicago A West Mich iRoWoni. 100 12% 15 | Iowa Division 4 s.....1919, AAO
Oonsol. mort 6 g ......1 ot 1 ,
123
22
Citiz’ns St.By.oflnd.jffPAiZaJ 100 19
Ohio.AW.Mioh. gen. 5s, 1921, JAD
Ext.
fmp. M. 4s, g., 1947..AAO 103%
Connecticut ik Pubs.. (Mosum).lOO 150 151 Consol, of Vermont, 5S.1913, JAJ
Con. M.of 1882, 4s....1937, JAJ 103% 104
Connecticut River....
«
100 250 260 Current River, 1st, 5s..l927, AAO
Terminal 5s, g ....M194l, Q.—F. 118
Consol. Tract, of N.J.fl (PAiZa.).100 42% 43 Det.Gr.Rap. A W.,lst 4s,1946. AAO
Phil. Wilm. A Balt., 48.1917, AAO
i*rnssm
Flint A Pere Marq...(Boston). 100 10
12
Eastern 1st mort 6 g.1906,MAS..
Pitts.
O. A St. L., 7s.. . . 1900, FAA 110%
Preferred.................
“ 100 39
41 ¡iTee.Elk. AM.V.,1st,68.1933, end.
Reading
Co.
gen.
4s...—
1997,
JAJ
83%
8A
Georgia Son. A Fla..(B alt.) .100
22
23 I Unstamped, 1st, 6% 1933.........
Rochester Railway, oon. 5s ..1930 97
1st preferred.......
“
100 75
K.C. O.A Spring.,1st,5g.,1925,AAO
Bohuyl.R.E.81de,lst
5
g.1935,
JAD
107
2d preferred..... ..
“
100 43% 44" K a F.8. AM. eon.6s, 1928, MAN
Union Terminal 1st5s.....„„FAA
HeBtonvlUe rasseng. (Ph
50 42 "
K.O. Mem. A Blr.tlst,2s,1927, MAS
Preferred If..........
1
50
68 K.
C. St. Jo. AO.B.,7s..1907, JAJ
Atlanta^&hsu&l^isS9 sf i 907, J AJ 120 1201»
Hunt. A Broad Top... 1
50 11
L. Rook A Ft 8m1st, 7s..1905, JAJ
Baltimore Belt, 1st, 58.1990, MAN 83
Preferred..............
1
50 43
Louis.,Ev.ASt.L.,1st,6g.l926,AAO
Balt. C. Pass. 1st 5s.. 1911, MAN 114
.100
8 15
2m., 5—6 g.............. 1936, AAO
Balt. Traotion, 1st 5s..1929, MAN 115 115%
Preferred.
100 35
60 Mar. H. A Ont., 6s...... 1925. AAO
Exten. A lmpt. 6S....1901, MAS 107 108
50
56 Mexican Central, 4 g. ..1911, JAJ
No. Balt. Div., 5s......1942, JAD l l 5 % 116%
100 127 129
1st oonsol.ineomes, 2 g, non-cum.
Baltimore A Ohio 4 g., 1935, AAO 103 105%
50 57
2d
oonsol.
inoomes,
3s,
non-cum.
Pitts.
A Conn., 5 g,...1925, FAA
Nesquehonlng Val.
50 55
N. Y. A N.Eng,, 1st, 7s,1905, JAJ*
Staten Island, 2d, 5 g.1926, JAJ 50
North Pennsylvania.
50 91%
1st mort. 6s............ 1905, JAJ
Reoelvers’
certificates, 6s..JAD 101
•--r«»
.100 20
21 Ogden. AL.G.,Oon.6s...l920,AAO
Do. Maryland Construe., 5s .....
102
Inc.
6
s....................._....1920
Do.
Plttsb.
A
Connells.,
5s..JAJ
OR Rn tland, 1st,6b......... 1902,MAN
.....
Phlladel. A Erie...... *
50
Do. Main Line 5s............. .. 102 103
West End____ _____ (B oston ). 50 83% 84
2d, 5 s.................... 1898,FAA
Bal.AOhlo S. W.,1st,4%g.1990, JAJ 97%
Preferred.......... .
“
50 103% 103%
UapeF.AYad.,Ser.A.,6g.l916, JAD 72
75'
United Cos. of N. J.. (P h ila .).100 251 I........
MAN 108%
Cent. Ohio, 4% g ..—....1930, MAS 96
West JerseyA Sea Sh. “
50 51 ......... Buffalo Ry. oon. 1st, 5s.........1931
Cent.
Pass.,
1st
5s_—
1932,
MAN
ll
o
%
U
l%
Western N. Y. A Penn “
100
278 3% Catawlssa, M., 7s......1900, FAA iÖ8%
Cfity A Sub., 1st 5s....... 1922, JAD 114% 115
Wisconsin Centrai...(B oston ). 100
2%l 2% Choc. Okla. A Golf, prior lien 6s.. 109 110
0harL0ol.AAug.ext.5s.
1910,
JAJ
10S%
mm
“
100
Preferred............
5
6
General 5s............... 1919, JAJ
91% OoL A Greeny., 1st 5-6s. 1917, JAJ 116% 117%
Woro’st.Kash.ARooh. “
100 120 125 Citizens’ St,Ry.of lnd.,con.5s.l933 91
76
77
Georgia
A
Ala.,1st
pf.
5s.l945,AAO
104
104%
MISCELLANEOUS,
Columb. St. Ry„ 1st, con. 5s.. 1932
Ga.Car. A Nor. 1st 5 g .1929, JAJ 93% 94
Allouez Min’g.asstpdrBoston,). 25
%
% Columb. O. Orosstown, lstt5s.l933
Georgia Pao., 1st 5-6a...l922, JAJ 119 120%
Amer. Ry. El. Light.. (P h ila.)
5 ......... Consol. Tract, of N. J„ lst,5s.l933 99% 100
101% 1017«
Atlantic Mining......(B oston ). 25 27% 28 Del. A B’d Br’k, 1st, 7s.l905,FAA 124
North. Cent. 6s______
106
-Bay -State Gas
~ -If
50
17«! 2
Easton A Am. IstM. ,5s.1920, MAN 108
«S____
- - ..........1904, JAJ 110 107
Boston Land.........
“
10
4
4% Eleo. A Peopl e’s Trao. stock, tr. otfs 8L
Series
A,
5a.......
...
81V
.1926,
JAJ
115%
Centennial Mining...
“
25 10 %! 11 Elmir. A Wflm.,1st, 68.1910, JAJ. 120 ......
4%s.......... ..
108 .........
Fort Wayne Eleot.1T..
“
25
% 1 Hestonville M. A F., oon. 5s..l924 115%
Pitts, a C!OTm«llS. 1st 7s.
Franklin Mining.....
“
25 12% 13% Hunt. A fir’d Top,«"Vm. 5s.’95,AAO 105
Pitts.
United
Trac.,
5s..
10 0 % 10 0 %
.......
Frenohm’n’s Bay L’d.
“
5
%
% K. C. Sub. Belt 1st 6s... 1920, JAD
Soutüem, 1st ös...— ...
92% 93
Kearsarge Mining....
“
25 19
19%j Kan.C. Pitts.A G.lst 5s.1923, AAO 79
80
Virginia
Mid.,
1st
6s...
ILI
Marsden Co.... ...... (P h ila.)
978' 10 Leaigh Nav.
.....19 14 ,0 _j
114
2d
Series,
6s.—
.
—
..—
.
118
Mergenthaler Linot..(B o sto n ). 100 142% 145
RR. 4s, g., 1914.................Q—F 109% 110
3d Series, 6s....—....
117%'
Osceola mining ------•* 25 41% 41% WBuer«. tuori.
g.iyza,w —p
__^
4th Series, 3-4-5s.....1921, MAP 98
Pnllman Palace Car.
“
100 176% 177 Lehigh Val.0oal 1st 5s,g. 1933,JAJ 104%'
96%
5th Series, 5 b . . . . . . . . . 1926, MAS 104 105
Pennsylvania Steel.. (Phila.). 100
15
Lehigh VaUey, 1st 6s...1898, JAD 102
¡West
Va.
O.
A
P.
1st,
6
g.1911,
JA<
109 109%
25
Preferred IT-—.. ...
“
100
2d 7 s ...................... 1910 , MAS 133%
Wilm. Ool. A Aug., 6s..1910, JAr 117 I i 7 %
Qulnoy Mining..^....¡B oston ). 25 112 113
Oonsol. 6 .......... __.1923, JAD 116
MISCELLAN EOUS.
1 amaraok Mining....
“
25 139 140 Newark Passenger, oon. 5s...1930 110
%
Baltimore Water 5s... 1916, MAI 122% 123%
** ater Power..............
“ 100
% 1 North Penn. 1st, 4s__ 1936, MAN 113
Funding 5s— .....1916, MA?
WMtdngh. Else. AM..
“
50 24% 25
Gen. M. 7s...............1903, JAJ 116%
Exchange 3%s.........1930, JA 1 05 %
Pref., cumulative..
**
50 54 55 Pennsylvaniagen.6s,r..l910, Var 131
Virginia
(Stace) 3s,new.1932, JA.
80
B onds-Boston.
Oonsol. 6s,
„ .......1905,Var
Fanded debt, 2-3s.....1991, JAJ 70
70%
At.Top. AS F.generalg. 4s, 1995 90 90% Oonsol. 5s, r. .... .. .. .. 1919 , Var 117
125
Obesa
pease
Gas
6s
.—.
1990,
J
A
105
106
Adjustment g. 4s, 1995.......... 59% 59% Ool1»». '•V 4% ...... •*•»a, TAD 109
Oonsol. Gas, 6s..—«
1919, JA
116
Boston nlt.«rt 9as 1st 6s
90 I 91 Pa. A N. Y. Canal, 78 ..1906. JAD 120
5s
—
1
108 108%.
* Price incudes overdue coupons.
Ï Unlisted.
ÿ A n -.co m i moeres
THE
J anuary 15, 1898.J
125
CHRONICLE
NEW YORK STOCK EXCHANGE PRICES (Continued)— AOTIVE BONDS JAN , 11 AND FOR YEAR 1 8 9 8 .
Railroad and
Miscellaneous Bords.
r ,»„* I m ° s*nff R a ngt (aalet) in 1898.
In t’ st p rice
__________
Period ja n , 14.
Lowest,
Highest,
108 Jan. 109 Jan.
•Amer. Ootton Oil, deb., 8g.l900 Q - F 109
Amer. Spirit Mfg., 1st 6g.l915 M A S 74 b. 74 Jan. 7 4 1 4 Jan.
83% Jan.
82 Jan.
Q
J
8
3
1
4
•AAR Arbor.—1st,4s, g.,...199o
At.T. &S.F.—New gen. 48.1995 A & O 9114 893j. Jan. 91% Jan.
60
Jan.
59
>4
5708
Jan.
Nov.
Ad) iistment 4s............ ..1995
B,way&7thAv.-lst.oon.g.5s’43 J & D 1221a 122 14 Jan. 122% Jan.
A
&
Oil
8
7
1
3
a.
t85ia
Jan.
183
Jan.
‘Brooklyn Elev. 1st, 6g.... 1924
Ualoa Elevated.—6g....l937 M & N■t 85 a. 183 Jan. t85 Jan.
95
95%
Jan.
94
Jan.
A
&
O
Bklyn Rap. Trans., 5 g...-1945
Bklyn. Un. Gas,1st,oon.5g. 1945 J & J 113*8 112 Q Jan. 113*8 Jan.
99
99
5
an.
F
&
A
98% Jan.
B’klynWhrf&W.H—1st,5a,g. 45
b.
Buff. R. & P.—Gen. g. 58.1937 M & S 104
11034
111
Jan.
109% Jan.
panada Southern.—1st, 5s,19 08 J & J
2d, 5s............................ 1913 M & S 108i4b. 108 13 Jan. 109 Jan.
Cent. of Ga.—1st, g., 53...1945 F & A 118 b. 113 % Jan. 119% Jan.
Cons., 5 s, g .............1 9 4 5 M & N 911« 91 Jan. 91% Jan.
Central of N.J.—Cons.,7s,1899 Q - J 105 b. 10438 Jan. 10438 Jan.
Consol., 7s................1992 M & N 113 b.
General mortgage, 5g...l987 J & J 111*8 110 Jan. 112 Jan.
Leh.& W.B.,oon.,7s,as’d.l900 Q -M 102 b. 100 Jan. 102% Jan.
*•
mortgage5s.!912 M & N . 92 b. 90 Jan. 90 Jan.
Am. Dock & Imp., os....1921 J & J 115 »aa.
Central Paolflo.-Gold, 6s.1898 J & J
Exten. 5 g. ...........
1898 J & J 1 0 1 %b.
Ohes. & Ohio. —Ser. A, 6g..l908 A & O 1 2 0 b. 120 Jan. 120 Jan.
Mortgage, 6 g ............ 1911 A & O 119%b.
114 Jan. 114% Jan.
1st oonsol.,5 g ...... ..... 1939 M & N 114
83% Jan.
81*a Jan.
General 4%s, g ........... ..1992 M & S 82*8
103*8 Jan. 104% Jan.
R.& A.Dlv., lstoon., 4g.l989 J & J 104»«
9434».
J
&
J
_
*'
2d oon., 4«..1989
Okie. Bari, & Q.—Con. 7s. 1963 J & J t115%b. 115% Jan. 1.15% jan .
Debenture, 5s............... 19H M & N 107 b. 106 Jan. 107% Jan.
11038 Jan. 112 Jan.
Convertible 5 s .............1903 M & S 111
Denver Division 4s......1922 F & A 1 0 1 b. 101 »4 Jan.’ 101% Jan.
98% Jan. 100 Jan.
Nebraska Extension, 48.1927 M & N 1 0 0
Han. A St. Jos.—Cons.6s.1911 M & S 1 2 2 b. 122% Jan. i22% Jan.
Ohio. & E. 111.—1st,s. f. 68.1907 J & D 116% 116% Jan. 116% Jan.
129 Jan. 130 Jan.
Consol. 6g........... . ....1934 A & O 129
General oonsol., 1st os.. 1937 M & N 104% 101% Jan. 105 Jan.
Chicago & Erie.—1st, 5g..l982 M & N 1 1 2 % 112 Jan. 112% Jan.
J 105 b. 105 Jan. 105 Jan.
Ohio. Gas L. &0.—1st, 5g.. 19 37
J 83
83% Jan.
83 Jan.
Oh. Ind. & L.—Ref., g., 5s. 1947
J 140 b. 138 Jan. 140% Jan.
Ohio. Mil.& St. P.—(3on.7s.1905
J 118 b.
1st, Southwest Dlv., 6s..1909
J 119>3 118% Jan. 119% Jan,
1st, So. Minn, Dlv., 6s.. 1910
J 116 b. 115% Jan. 117 Jan.
lst,Ch.& Pao. W.Dlv.5s..l921
J 114»«b. 114% Jan. 114% Jan.
Chlo.&Mo. Rlv.Dlv.,5s.. 1926
J 114%». 114% Jan. 114% Jan.
Wise. &Minn.,Dlv ,5g...l921
J H4»3b. 114 Jan. 114 Jan.
Terminal, 5g................1914
J 105
10438 Jan. 105 Jan.
Gen. M.,4g.,seriesA....1989
12 5 »4 a,
&
D
Mil. A Nor.—1st,oon.,6s. 1913
Ohio. & N. W.—Consol., 7s. 1915 Q - F *145 a. 144% Jan. 145 Jan.
Coupon, gold, 7s......... 1902 J & D llt>%a. 116% Jan. 116% Jan.
Sinking fund, 6s.........1929 A & O 117%». 116% Jan. 117 Jan.
Sinkingfnnd, 5 s.........1929 A & O 111%». 111% Jan. 111% Jan.
Sinking fnnd, deben., 5s. 1933 M & N 117% 117% Jan. 117% Jan.
25-year debenture, 5s...1909 M & N 109%».
Extension, 4 s ...... .....1926 F & A *106 b.
Mil. L. Sh. & W„ 1st, 6g.l92L M & N 135%». 136% Jan. 137 Jan.
Ex ten. & Imp., 5g.....l929 F & A H7%b,
Ohio. R.I. APao.—6s,ooup. 1917 J & J *131 b.
Extension and ool., 5s.. .1934 J & J 1053a 105% Jan. 105*« Jan.
80-year debenture,5s...1921 M & S 107
106% Jan. 107 Jan.
Ohio. St. P. M. & O.—6s...1930 J & D 136%», 133% Jan. 131% Jan.
85%
Ohio. Ter. Transfer.—.4g.. 1947
85*8 Jan.
83*8 Jan.
dlev. Dor. A Wheel.—5s... 1933 A & O 102 %b, 102% Jan. 102% Jan.
O. O. O. &I.—Oonsol. 7g ...1914 J & D 135 b 135 Jan. 136 Jan.
General, oonsol., 6 g .... 1934 J & J
97
97 Jan.
M&N
97 Jan.
0.
0.065t.L.~St.L.Div.,4s.l990
Peoria A Eastern, 4s.... 1940 A & O 76 m 76 Jan. 76 Jan.
001. A 9th Ave. gu. 5s, g..l993 M & S 123% 121% Jan. 121% Jan.
Ool. H. Val. &Tc U—Oon.,5g. 1931 M & S t 77
t74 Jan. 177% Jan.
General, 6g..............1 9 0 4 & D 52 b. 54 Jan. 54 Jan.
Denv.& RloGr.—1st,7s,g.1900 M & N 108 %b.
90% Jan.
89% Jan.
1st oonsol., 4 g...........1936 & J 90%
Dal* A Iron R’ge -1st, 5s. 1937 A & O
104 Jan. 104% Jan.
-Dal. So. Sh, & Atl.—5g....l937 &
Edison El.111.—lst,oon.g.5s.’95 & *112 %b. 115% Jan. 117 Jan.
91%
»Erie—4, g, prior bonds.... 1996 &
91% Jan.
90*8 Jan.
71%
71*8 Jan.
70 »« Jan.
General, 3-4, g . . . . ........ 1996 J &
145 b. 146 Jan. 146 Jan.
Erie Ry.—1st, oon., 7g..l920 M &
L’g Dook, oonsol., 6 g. 1935 A & O 137 b.
73% Jan.
'Ft. W. &Den. City.—4-6 g.1921 J & D 73
70*4 Jan.
Gal.H.&San.An-M.&P.D.lst,5g M & N 92 b. 92 Jan. 93 Jan.
Gen. Eleotrio,deb. 5s,g... 1922 J & D 100% 100% Jan. 100% Jan.
Hous. A T. Oent. gen.4s,g.l921 A & O 80 a. 78 % Jan. 80 Jan.
¡Illinois Central.—4s, g.. . . . 1953 M & N 102 a.
WesternLines,lst, 4s, g.1951 F & A
Int.&GreatNor.—1st,6s,g 1919 M & N 122% 121% Jan. 123% Jan.
2d,4%-5s................. ...1909 M & S 85 %a. 85 Jan. 85% Jan.
.Iowa Central.—1st,5 g ....1938 J & D 100 a. 99 Jan. 100 Jan.
Can.O.P.&G.—lst & ool.g.5s’23 A & O 79%
80% Jan.
78% Jan.
Kings Co. Elev.—1st,5g.. 1925 J & J 50 b, 46 Jan. 50 Jan.
Laolede Gas.—1st, 5s,g... 1919 Q - F 1 0 3 3 4 b, 103 Jan. 104% Jan.
.Lake Erie A West.—5g.... 1937 J & J 113 %b, 115% Jan. 116% Jan.
cJL. Shore.—Con,op., 1st,7s. 1900 J & J 108 b. 107% Jan. 108 Jan.
Oonsol. ooup.,2d, 7s.....1903 J & D 119 %b. 119 Jan. 119 Jan.
Gold, 3%s......................1997 J & D 105% Iu4% Jan. 105% Jan.
Leh. Val.Ter.—1st, gu., 5s. 1911 A & O
Lex. Av. &Pav.F.gu. 5s,g 1993 M & S 123
121% Jan. 123% Jan.
Long Island.—1st eon.,5g.l931 Q—J 117 b.
General mortgage, 4g... 1938 J & D 85 b. 85% Jan. 85% Jan.
Louis. A Nash.—Cons. 7s..1898 A & O 101% 102% Jan. 102% Jan.
N.O. A Mobile, 1st, 6g... 1930 J & J '120 b. 12038 Jan. 120% Jan.
"
“
2d, 6g._ 1930 J & J
General, 6 g ........ .. .. .. 1930 J & D 117 %b. 117 Jan. 117% Jan.
Unified, 4g...............1 9 4 0 J & J 86 b. 35% Jan. 86 Jan.
„
%
R a il r o a d an d
M is c e l l a n e o u s B o n d s .
R ange (sa les) in 1898*
Int'st I
14.
Lowest.
Highest, (
Louis. N. A. <feOh.—1st,6s. 1910 J & J i l l b.
93% Jan.
95% Jan.
Manhattan oonsol. 4 s .....1 9 9 0 A & O 97
Metro. E lev.- 1st, 6 g ___ 1908 J & J 118 %b. 118% Jan. 118% Jan.
M
&
N
104%b.
104%
Jan.
104%
Jan.
2d.6s............ .................. 1899
Metrop. St. ,gen. col.tr. g. 5s. 1997 F & A 116% 113% Jan. 116% Jan.
114%b.
M
&
N
114% Jan. 115 Jan.
Mloh. Cent.—1st,oons., 7 s .1902
Oonsol., 5 s .. . . . . . . . . . . . . . 1 9 0 2 M & N 106%b. 106% Jan. 106% Jan.
Minn.&St.L.—lstoon.5s,g.l934 M & N 106 %b. 106% Jan. 106% Jan.
96% Jan.
94 Jan.
Mo. K. & E.—1st 5s, g., go.,1942 A & O 95%
87% Jan.
85*8 Jan.
M. K. & Texas.—1st, 4s, g. 1990 J & D 87%
64
63 Jan.
64% Jan.
2 d ,« s ,g .... . . . . . . . . . . . - . 1 9 9 0 F & A
96%
96% Jan.
94 Jan.
Mo. Pao.—1st,o o n .,6 g .....1920 M & N
3d, 7s.................................. 1906 M & N 108 %b. 107% Jan. 108 Jan.
Pao. of Mo.—1st, ex., 4g -l9 38 F & A 105 b. 104% Jan. 105 Jan.
2d ext 5 s . . . . . . . ...........1938 J & J 106%b.
St. L . & Ir.Mt.Ark. B.,5s. 1935 J & D 107%b. 106% Jan. 107 Jan.
1st ext., g., 4 % s .......1 9 4 7 F & A 108 b. 110% Jan. 110% Jan.
90% Jan.
88 Jan.
Gen. R’y Aland gr.,5g.l931 A & O 89*8
121 Jan. 122 Jan.
Mobile & Ohio—New6g ...1 9 2 7 J & D 122
79 Jan.
General mortgage, 4s... 1938 M & S 78 %a. 77 Jan.
Nash. Oh. &St.L.—1st, 7 s ..1913 J & J 131 a.
Oonsol., 5 g .. . . . . . . . . . . . . . 1 9 2 8 A & O 103 b. 103 Jan. 103% Jan.
N. Y . Central—Debtext.4s.1905 M & N 103 %b. 103% Jan. 104 Jan.
1st, coupon, 7 s ... . . . . . . . . 1 9 0 3 J & J 116% 116 Jan. 116% Jan.
Deben., 5s, coup., 1 88 4 .. 1904 M & S 110 %b. 110% Jan. 110% Jan.
N. Y. & Harlem, 7s, reg..l900 M & N 109 b.
R. W. & Ogd., consols, 58.1922 A & O 122 %b. 121% Jan. 122% Jan.
West Shore, guar., 4s. ...2 3 6 1 J & J 109% 109 Jan. [110 Jan.
N. Y. Ohio. & St. L.—4 g ...l 9 3 7 A & O 106*8 106% Jan. 1107% Jan.
N. Y. Laok. & W.—1st, 6s. .1921 J & J 128 b 138% Jan. 138% Jan.
Construotion, 5s............1 9 2 3 F & A
N.Y. N. H. & H.—Oon. deb. otf-t. A & O 146 b. 145 Jan. 145 Jan.
99% Jan.
97% Jan.
N.Y.Ont. & W.—Ref. 4s, g.1992 M & S 99%
107% Jan. 108% Jan.
Oonsol., 1st, 5s, g ........ « .1939 J & D 108
N.Y.8US.& W .lstref.,5s, g.1937 J & J 107% 103 Jan. 108 Jan.
94
94 Jan.
Gen. 5 g .................
1940 F & A
87 Jan.
Midland of N. J., 6s, g. ..1 9 10 A & O 120%b 120 Jan. 121 Jan.
A
&
O
79%
80 Jan.
79 Jan.
Nor.& W. Ry.—1st, oons.,4g.’96
No. Paolflo—1st, ooup. 6g.l9 21 J & J 117 b 116 Jan. 117*8 Jau.
97
97 Jan.
Prior lien, ry. & l.g. 4, g.1997 Q - J
95 Jan.
62%
62% Jan.
60% Jan.
General lien 3 g .............2 0 4 7 Q - F
No. Paolflo Ter. Co—6 g . . . . 1938 J & J 106
104 Jan. 106 Jan.
Ohio & Miss.—Oon.s.f., 7 s. 1898 J & J
80 Jan.
80 Jan.
Ohio Southern—1st, 6 g ...l 9 2 1 J & D 80
11 Jan.
11 Jan.
General mortgage, 4 g .,1921 M & N
Oregonlmpr. Co.—I s t6 g ..l9 1 0 J & D *103 %b. 110 3% Jan. U 0 5 Jan.
46% Jan. t5 0 Jan.
Consol., a g . . . . . . . . . . . . . . 1 9 3 9 A & O 1 49%
Ore.R.&Nav. Co.—1st, 6 g .l9 0 9 J & J 114
112% Jan. 114 Jan.
95 Jan.
RR. & Nav. consol., 4 g.1946 J & D 94%
93% Jan.
Oreg. Sh. Line -1 s t ,o s,g .. 1922 F & A 124% 124 Jan. 124% Jan.
1st, oon. 5s, g...................1946 J & J 97%
93 Jan.
96% Jan.
60
Non-oumul. ino. A, 5 s ...1 9 46 Sept.
60% Jan.
58 Jan.
Penn. Co.—4%g, ooup........1921 J & J *112 b.
Peo. Deo. & Evansv.—6 g.1920 J & J tlO l a.
Evans. Division,6 g ....,1 9 2 0 M & S
2d mortage, 5 g . . . ........ ..1 9 2 6 M & N
Pitts Sh. & L. E ., 1st, 5 g. 1940 A & O 107
106% Jan. 107 Jan.
Pittsburg & Western—4 g .1917 J & .1 77%b. 77 Jan.
78% Jan.
Reading Co.—Gen., g. 4s .1997 J & J 34
84% Jan.
83% Jan.
RloGr. Western—1 s t4 g .. 1939 J & J 83%
84 J an.
81*8 Jan.
St. Jo. & Gr Isl.—2-3-43.. 1947 J & J 71%
70 Jan.
71% Jan.
St. L. &3an Fr.—6g, 01. B.1906 M & N 115% 115 Jan. 115% Jan.
General mortgage, 6 g ..l9 3 1 J & J *116%b. 116% Jan. 117% Jan.
1 9 3 1 J & J 103*8 103% Jan. 104 Jan.
General, 5 g ................
Railroad, 4 g ...................1996 J & J 75 a. 74 Jan.
75 Jan.
72%
St. L. & So. W.—1st, 4s, g.1989 M & N
72 Jan.
73 Jan.
2d, 4s, g., inoome.. . . . . . . 1989 J & J 27%
27% Jan.
27% Jan.
St.P. M. &M.—Dak. E x .,6 g .l9 1 0 M & N 121 b. 121% Jan. 121% Jan.
lstoonsol.,6 g . . ..... ....1 9 3 3 J & J *130 a. 123 Jan. 128 Jan.
“
reduoedto4% g.. J & J 107% 106 Jan. 107% Jan.
Montana extension,4 g.1937 J & D 93%
94% Jan.
93% Jan.
San. Ant. & A. P.—lst,4g.,gu.’43 J & J 61%
62 Jan.
59% Jan.
So. Oar. & Ga.—1st, 5 g . . . 1919 ¡ M & N
96 b. 95 Jan.
96% Jan.
So. Paolflo, Aria.—6 g. ..1909-10 J & J 100 b. 100% Jan. 103% Jan.
So. Paoitlo, C a l.-6 «...1 9 0 5 -1 2 A & O 108 b.
1st oonsol., gold, 5 g . . . . . 1937 M & N
94%
94% Jan.
92% Jan.
J 106% 105% Jan. 106% Jan.
So. Paolflo, N. M.—6 g ....... 1911
Southern—1st oons. g, 5 s .1994 J & J 92%
92% Jan.
92*8 Jan.
E. Tenn. reorg. lieu 4-5s. 1936 M & S 95 b.
E.T. V. &G.—1st,7 g ...,1 9 0 0 J & J 106% 106% Jan. 106% Jan,
Con. 5 g . . . aaa. . . . . . . . . . 1956 M & N 110%al 110% Jan. 110% Jan.
Georgia Pao. Ist5-6s, g.,1922 J & J *120%a 118% Jan. 118% Jan.
Knoxv.& Ohio 1st 6 s,g .. 1925 J & J 116 b
Rleh. &Danv. oon. 6s,g..191 > J & J 122 a 122 Jan. 122 J an.
West.No.Oarlst oon. 6s,g 1914 J & J llS % b . 112% Jan. 116% Jan.
Standard Ropa&T.,lst,6g.l946 F & A
60%
61% Jan.
57 % J an.
Tenn. 0 . 1.& Ry—Ten. D .lst, 6g A & O 83 b.
Birmingham Dlv., 6 « ...1 9 1 7 J & J 84 b. 84 Jan.
85 Jan.
Texas & Paolflo—1st, o g ..2 0 0 0 J & D 99*8
97% Jan. 100 Jan.
2 d ,income,5 g . . . . .... ..2 0 0 0 March
29%
31 Jan.
28 Jan.
Toledo* Onto Oent. 6 g . . 1935 J & J 103%b. 102% Jan. 103% Jan.
Tol. St. L. &Kan.O.—6 g . . . 1916 J & D t 89% 188 Jan. t90 Jan.
Union Paolflo—6 g . . . aMa..1898 J & J 103%b. 103 J an. 103 Jan.
Ext. sinking fund, 8. ....1 8 9 9 M & S tl2 3%
113%Jan. 1124%Jan.
Oollat. tr. 6s, g. notes... 1902 F & A 1 46
143 Jan. 146% Jan.
Purchase money certs......... .
120% 111*8 Jan. 120% Jan.
Kan. Pao.-D en.D lv.,6g. 1899 M & N
1st oonsol., 6 g .. . . . . . . . 1919 M & N 1 93% 184% Jan. t94% Jan.
U.P.Den. & Gulf,oon.,5 g. 193 9 J & D t 53% t4 8 % Jan. t5 4 Jan.
U. S. Leather—S.F.deb.6g. 1913 M&N 115 b. 114% Jan. 115 Jan.
Virginia Mid.—Gen.M., 5s. 1936 M & N
Wabash—1st, 0 « . . - . . . . . . 1939 M & N 108% 107*8 Jan. 108% Jan.
2d mortgage, 0 g. . . . . . . . . 1939 F & A
82
82% Jan.
80% Jan.
West N. Y . & Pa.—1st, 5 g .l9 3 7 J & J 106 b 106 Jan. 106% Jan.
Gen. 2-3-43, g o l d .. ...... 1943 A & O 48*8
49 Jan
48 Jan.
West.Un.Tel.—CoLtr. 5 s ..1938 J & J 111
109 Jan. 111 Jan.
Wise. Cent. Co. 1st 5s, g. ,.1937|J & J,t 36% t33% Jan. 137 Jan.|
Note .—“ b” indicates price b id ; “ a” price asked; the range is made up from sales. ‘ Latest price this week. ITruat receipts. 162%% prin. pd.
NEW YORK STOCK EXCHANGE PRICES—(Continued),— IN A C T IV E B ON D S- J A N 1 4 .
SECURITIES.
Bid
Ask.
Railroad Bonds.
(Stock E xchange P rices.)
labama Mid.—Ist, g., guar.. 1928
’Atoh. Topeka & San Fran.—
Et^uip. trust, ser. A, 5s, g..l902
Ouloago & st. Lou.—Ist, 68.1915
Atlan.Ave., Bklyn—Iinp.g. 5s. 1934 ’ Ï 5 "
Atlan. & Danv.—Ist, g., 5s...1950 9 4
97
SECURITIES.
Bid. Ask.
Balt. & Ohio—1st, 6s, Park B.1919 *111
5s, gold ........................ ..1925 85
Cons, mort., gold, 5s.......... 1988 96
W Va. & Pitts.—1st,g., 5s..1990
Monon. River, lst,g., g. 5s.. 1919 *97
Cent’l Ohio Reo '.—1st, 4%s. 193
Ak.&Ch. Juno.—1st,g,5s,gu .193*
B. & O. S. W ., 1st, g.,4%s...!990 *97
Ohio & Miss.—1st oon. 4 s ... 1947
2d oonsol. 7 s — .............1911
Bid
SECURITIES.
Oh.& M.—8prlng.Div.lst7s.1905 106%
General 5s....... .............1 9 3 2
Brooklyn Elevated—2d, 5s... 1915 *48
Seaside &B.B.—1st,g,5s,go .1342
Brunswick & W*n—1st, g., 4s.1938
Buff.R.&Pitts.—R.& P. 1st,6s. 1921 *126%
Roch. & Pitts.—Cons. 1st,6s. 1922 *122
CHear.& Mah.—1st,gu.,g. ,5s. 1943 118
Bud:. & Susqueh.—1st, 5s, g.,1913
Burl.Ced.Rap. & No.—1st, 5s. 1906 108
126
THE CHR OK IOLE.
NEW YORK STOCK EXCHANGE
F R I G E S .— I N A C T I V E B O N D S —(C o n tin u e d J — J A N .
SECURITIES.
[V ol . LX V I.
14.
SECURITIES.
Bid. Ask.
Bid. Ash.
SECURITIES.
Bid. Ask
Bur. Cedar Rapids & N.—(O on.)
Erie—(O on .)—
Norf.AW.—New River 1st 68.1932
Consol. & eollat. trust, 5 s .. 1934 108
3d, extended, 4 % s..„ ............ 1923
Imp. A Ext« 6 s . . . . . . . . . ........1934 118
Minn. A St. L.—1st, 7s, g u ..l9 2 7
tth extended, 5 s . . . . . . ......... 1920
Col. Conn. ATer..1st,gu.g.5s.l922
Ced. Rap. I. F. A N „ 1st, 6S.1920 '106
5th, extended, 4 s . . . . . ..........1 9 28 103
84
SciotoV. A N.E.—1 st,gu. g. 4s. 1989
1st 5s.................................... 1921 105%
1st, con., g., Pd, 7 s .............. 1920
Ohio River RR.—1st, 5s, g ___ 1926 *103%
■.Ohio—Col. (Jin. M. 1st,4%s. 1939
B. W. X. A E.—1st, 7s...........1916 140 142
Gen, g .,5 s ............................ ..1 9 3 7
94
Cant. RR. dr, Bank.—Col. g.5s.l937
Buff. * 8. W.—Mortg. 6 s ....l 9 0 8
Omaha A Bt. Louis.—1st, 4 s ..1937
82
Oeit. Ry. of Ga.—
jfefieraou—1st, go. g 5s ....1 9 0 9 T06
Oregon Short Line—
44% Caul A R R .-6 S ..................... 1922
1st, pref. Income, g., 5s ....1 9 4 5
Utah A North.—1st, 7s.........1908 '116%
2d, pref. Income, g., 5 s ........1945
15% Dock A Tmpt.,1 st 6s. our’ oy.l 913
Gold, 5s.................................1926
3d, pref. Income,g., 5 s ......1 9 4 5
N. Y. & Gr’nw’d L.~G u.g.5s.l946
43
Non-cum. ino. B. and col. trust.. *42
Mao. A Nor. Div., ls t,g ., 5 s .1946
Evans. A T.H.— 1 st, eons., 6s. 1921 *114
Penn-F.C.C.ASt.L.Cn.g.4%sA1940 *11138
Mobile Div., 1st, g., 5 s ...... 1946
1st, general, g., 5 s
......... 1942
77
Do
do
Series B 1942 * 111 %
Oent. of N. J.—Cony, deb., 6S.1908
MtVernon 1st os................... 1923
Do
do
Series C 1942
Cent. Pacific—
Sul. Co. Br. 1st, g., 5 s .......1 9 3 0
Do
do
Series D, 4s, 1945 ' 100%
Ext. g. 5s, series A B C D ..1898 *101
Evans. A Indian.—1st, cons..1926
P.O.A8.L.-lst,c.,7e................ 1900
Gold 5s, series E . . . . . . . . . . . 1898
Flint & P. Marq.—Mort., 6 s... 1920
116
Pitts. Ft. W. A 0 .—1st, 7 s ... 1912
140
San Joaquin Br., 6s...............1900 *i'oi%
1st, con. gold, 5s.............. ...1 9 3 9
2d, 7 s ................................... 1912 138
Mort. gold 5 s . . . . . . . . . ...........1939
Pt. Huron Div.—1st, 5s ....1 9 3 8
85
3d 7g....... •••••-■■• ..
1912 136 139%
Land grant, 5s, g ... . . . . . . . . . 1 9 0 0
Fla. Cen A Pen.—ls t g . 5 s ....1918
Gh.8t.L. AP.—ist,oon.5s,g.. .1932
Cal. A O. Div., ext., g. 5 s ...1918
1st, 1. g.. ext. g., 5 s . . . . . ........1930
Olev. A P.—Cons., s. fd., 7 s .1900
West. Pacific—B on ds,6s....1 8 99 101
1st oon. g., 5 b .........................1943
Gen. 4%s, g., “ A” ............. 1942
No. Railway (Ca1.)—1st, 6 s .1907
Ft. W. & Rio Gr.—1st, g., 3-48.1928
Do
do
Series B 1942
50-year 5s.................. ......1 9 3 8
98
Ga. A Ala., 1st, pref., g. 5s. ..1945 103% 105
St. L.V. A T .H .—1st,6 s .,78.1897
30
Oent. Washington—1st, g., 68.1938
Ga. Car. & Nor.—1st, gu. 5s, g. 1929
2d, guar., 7 s . . . . .............. ..1 8 98 102
Ghas. A Sav.—1st, g., 7s.........1936
Illinois Central—1st, g., 4 s ...1951
Gd.R.AI.Ext.—1st,4%s,G.g. 1941
Ohes. & O.—Pur. M. fund, 6s. 1898 * 101 % 1021*
1st, gold, 3 % s ........... 1 ............1951
Alleg.Val.—Gen., gu.,4s, g.1942
96% 99
Craig Valley—1st, g., 5s— 1940
Gold 4s.......................
1952 * 101 %
N.ACin.Bdg.,gen.gu.4%s,g.l945
Warm Spr. V a l.,ls t , g. 5 s ..1941
2-10 g., 4 s............................... 1904
Penn.RR.—1st real. est. g. 4s. 1923
Eliz. L.& Big Bandy—G. 5s. 1902 103 104
Cairo Bridge—4 s . . . . . . ......1 9 5 0
Cle.A Mar’ta—lst.gu. g.4%s. 1935
0 llcago A Alton—8. F., 6s___ 1903 112
Middle Div.—Reg., 5s.......... 1921
UnitedN.J.RR.AC.--Gen.4s.l944
Louis. A Mo. River—1st, 7S.1900
O. Bt. L .A N . O.—
D. Riv.RR. ABdg—lst,gu.g.4s.’36
Sd, 7s.....................................1900
Gold, 5s, coupon................ 1951
Peoria A Pek. Union—1st, 6s .1921 121
St. L. Jaoks. A Ohio—2d, 7S.1898
Memp, Div., 1st g. 4 s....... 1951
2d mortg., 4% s...................... 1921 *85
Miss.R. Bridge—1st, s .f., 6S.1912 T04%
Ind. Deo. & W.—1st, g., 5 s ....1935 103% 104% Pitts. Cleve. A Tol.—1st, 6 s... 1922
110
Ohio BurL A Nor.—1st, 5 s ....1 9 26
Ind. Ills. A Iowa.—1st, g, 4s.. 1939
89 Pitts. A L. Er.—2d g. 5s, “ A ” . 1928
Ohio. Burling. & Q.—5s, s. f ..l 9 0 1
1st, ext., g. 5 s ........................ 1943
Pitts. Mo. K. A Y .—1st 6 s.....1 9 3 2
Iowa Div.—Sink, fu n d ,5s.. 1919
Int. & G. N’n.—3d, 4s, g .........1921
44
Pitts. Painsv. A F.—1st, 5 s ..,1916
95
Sinking f u n d ,4 s ........
1919 102
Kings Co.-F.El.,lst,5,g.,gu. A. 1929
38 Pitts. Shen. AL.E.—lstcon.5s.1943
Plain, 4 s .. . . . . . . . . . . . . . . . . . . . 1921 *95
Lake Erie A West.—2d g., 5 s .1941 101 103% Pitts. A West.—M. 5s,g.l891-1941
Chloago & Iowa Div.—5 s ...1905
North’n Ohio—1st, gu. g. 5s. 1945 100 %
Pitts.Y’gst’nAA.—1st, 5s,oon.l927
C lie. A Indiana Coal—1st 5s. 1936 100
L. S. AM . Sou.—B.AE.—New 7s.’98 * 102 %
Rio Grande So.—1st, g., 3-4S.1940
Coi.Mil. A St.P.—lst,8s,P.D.1898
Det. M. & T.—1st, 78............. 1906
St. L. A. A T. H.—Term. 5 s ..1914 *105
24, 7 3-lOs, P. D ....................1898
Lake Shore—Div.bonds.7s. 1899
106
Bellev. A Car.—1st, 6s..........1923 *113%
1st, 7s, $ g., R. D ................... 1902 140 140%
Cin.& 8.—lst,gu.L.S. AM.S.7s.’01 111 112
St. Louis So.—1st, gd. g. 4 s .1931 *90%
1st, 1. * £>., 7s....................... 1899 140
Kal. All. & G. R.—1st gu. 5S.1938 120
do
2d income ,5 s.1931
1st ,0. & M., 7s....................... 1903 140
Mahon’g Coal RR.—1st, 5 s.1934 118
80
do
1st con. g. 5 s .1939
1st,* I. A D. Extension, 7s. ..1908 141
LehighV.iN.Y.—1st gu.g.4%s.l940 102
Car. AShawt.—1st g. 4 s ....l 9 3 2 *90%
1st, La C. A Day., 5s...........1919
Lehigh V ’y Coal—1st 5s,gu.g.l933
St. L. A S. F.—2d 6s,g., ol. A .1906 115
1st, H .A D., 7s..................... 1910 Ì29
Lehigh A N.Y.—1st, gu. g. 4S.1945
91%
2d, 6s, g., class C .................. 1906 115
1st, H. A D .,5 s ..................... 1910
ElmiraC.&N.,lst.g.lstpf.6s.l914
1st, trust, gold 5s................ 1987
Chicago A Pacific Div., 6 s .. 1910 119%
Guar., gold, 5s....................1914
Ft. S. A v .B .B g .—1st, 6 s ... 1910 106
Mineral Point Div. 5 s .......1 9 1 0 110 %
Lltohf. Car. A West.—1st 6s. g.1916
Kansas Midland—1st, g.,4s.l937
0 . A L. Bup. Div., 5s............ 1921 1143*
Little Rook A M.—1st, 5s g ..l9 3 7
St. Paul City Ry, con. 5s, g ... 1937
Fargo A South., 6s, A s s u ...l9 2 4 1271«
Long Island—
Gold 5s, guar.................. „ „ 1 9 3 7 ‘ 93
Ino. oonv. sink, fund, 5 a ....1 9 16 105
1st, 7s............................« ....1 8 9 8 102 102 % St. Paul A Duluth—1st, 5 s ....1 9 31 115
Dakota & G t. South., 5 s ....1 9 1 6
Ferry, 1st, g., 4 % s .... . . . . . . 1922
85
2d mortgage 5s......................1917 108 110%
Mil. & Nor.mainline—6 s ... 1910 122
Gold 4s....................... ..... ...1 9 3 2
Bt. Paul Minn A M.—2d M, 6s. 1909 121
C ilo.ANorw.—30-year deb.5s. 1921 115
N. Y . A R’way B.—1st, g. 5s. 1927
Minneap. Union—1st 6 s ... 1922
127
Xsoanaba & L. 8 .1 st, 6 S ....19 0 1
2d mortg.. i n o .......... ...1 9 2 7
124
Mont. Cen.—1st, guar., 6 s ..1937
Des M. A Minn.—1st, 7 s ....1 9 07
N.Y.B.AM.E.—1st con. 5s,g. 1935
1st guar. g. 5s.................... 1937
Iowa Midland—1st, 8s.........1900
Brookl’nAMontauk—1st, 6s. 1911
East. Minn., 1st div. 1st 5s. 1908
Ohio. & Milwaukee—1st, 7s. 1898
1st, 5 s ...................................1911
Wf’ nrarABiouxF.—1st, g,5s.l938
Win. A Bt. P.—2d, 7s............ 1907
No. Shore Br.—1st con.5s,g,1932
San Fran. A N. P.—1st, g., 5s,1919
Mil. & Mad.—1st. 6 s ............ 1905 116
Louis.Evans.A St. L.—Con.5s.1939
32 Bav.Fl.AWest.—1st, oon. g.6s.l934
Ott. O. F. A St. P.—1st, 5s. 1909 109
Louis. ANash.—Cecil. Br. 7 s..1907
Seaboard A Roanoke—1st, 5 s.1926
Northern 111.—1st, 5s.......... 1910 109
E. H . A Nash.—1st 6s, g ___ 1919 *114
62
Seat.L.S.AEa8t.,lst6s,asst.pdl93L
M il.L.S.A W .—Con.deb.,5s.l907 110
Pensaooia Division, 6 s......1 9 2 0
Southern Paoiflo Co.—
Mich. Div., 1st, 6s.............. 1924 130
St. Louis Division, 1st, 6 s ... 1921
Gai.Har.ABan Ant.—1st,6 s.1910
Ashland Division—1st, 6s 1925 133
2d, 3s.................................... 1980
2d mort., 7s......... ........... „ 1 9 0 5 101
Oh,R.I.AP—D.M .A F.D .lst 48.1905 *85
Nashv. & Decatur—1 st, 7s.. 1900 106% 108
Hons. ATex. C.WaooAN.7s.l903 125
1st, 2i*s................................1905
68
». f.,6s.—S. A N. A la.............1910
1st g., 5s (int. gtd)............ 1937 109%
Extension, 4s..................... 1905
50-year 5s, g.,.........................1937
95%
Cons. g. 6s (int. gtd)......... 1912 106
Keokuk & Des M.—1st,5 s .. 1923 T07 108% Pens. A A t .- 1st, 6s, gold. ..1921
Morgan’s La. A T.—1st, 6s,. 1920 111
Ohio, St. P. A Minn.—1st,6 s .. 1918
131% Collat. trust, 5s, g . . . . . . . . . . 1 9 3 1 102
1st, 7s..................
1918 129
Bt. Paul A S. C.—1st, 6s....... 1919 '130
L.AN. & M.&M.—Ist,g.,4% sl945
Oregon A Galifor.lst, 5s, g.1927
Ohio. A W. Ind.—1st, s. f., 6 s .1919 105
Nash.Flor.AS.—1st, gu., 5s. 1937
89% 90
Texas A New Orleanslst,7s.l905
Gen. g., 6s................................1932 121 124
So. A No. Ala., oon. gu. g., 5s. 1936
94
BaDine Division, 1st, 6s. ..1912
Ohio. & West. Mich.—5s.........1921
Kentucky Central—4s, g ..1987
Consol. 5s, g . . . . . . . ............1943
90
96
CIn Ham. & D.—Con. s. f., 78.1905
|L. &N.—Lou.C.&L.—g. 4% s.l931
Southern—Ala. Cent., 1st 6s. 1918
Sd, gold, 4% s.......................... 1937
,ou.&Jefl. Bdge Co.—Gu.g,4s. 1945
Atl. A Char.—Income, 6 s ... 1900
Oin. D. A Ir’n—lst.gu. 5s, g. 1941 110
Louisville Ry—1st, oon.,g.,5s.l930
Colum. A Green.—1st, 5-6 s.l9 1 6
City & Sub. (Balt.)—1st, g., 5s,1922
Mexican Cent. Consol.—4s, g.1911
E. Tenn.V. A Ga.—Divis.5s 1930
d ev .A k . A Col.—Eq. A 2d 6S.1930
1st, cons, income 3s, g.........1939
Rioh.A Dan.—Eq. s. f. g. 5 s.1909 100
oiev.&Can.—Tr.ctfs.forlst5s.1917
701*
2d cons, income 3s, g .........1939
Deben. 5s, stamped ......1 9 2 7 100 110
0 . 0. C. & St. L.—Gen., g. 4 s ..1993
Mexican Intern at.—1st, g. 4s. 19 42
Vir’a Mid.—Serial ser.A, 6 s .1906
Cairo division, 4s.................. 1939 *89i*
Mexican National—1st, g., 6s. 1927
Series B, 6 s . . „ „ . . . ........... 1911
Bpring. ACoLDiv.—1st,g. 4s. 1940
2 d ,income, 6s, “ A” . . . ... ...1 9 1 7
Series 0 , 6 s . . . ...........
1916
WhiteW.Val.Div.—1st,g. 4s. 1940 '*87% 90
2d, income, 6s, “ B ” . . ... ...1 9 1 7
Series D, 4-5s . . . . . . . . . . . . . 1 9 2 1
Oln.Wab.AM.Div.—1st,g.4s.1991 *90
Michigan Central—6s............ 1909 120
Series E , 5s ...........
1926
Oin. I. St. L. A 0 .—1st,g.,48.1936 100
Coupon, 5s................. ............ 1931 127
Beries F, 5 s . . . . ................ ..1931
Consol, 6s................
1920
Mortgage 4 s . . . . .....................1940 108
Gen., 5s, guar., stamped .1936
01n.8an.ACl.—Con.lst,g.5s, 1928 110
Bat.C.&Strgis.—Ist,3s,g.gu.l989
Wash. O. AW.—1st our.gu.4s.1924
Indiana B. A W .—1st pf.7s.1900
Minn. A 1 1. L.—1st, g. 7s......... 1927 142
Sunbury A Lewis.—1st, g.,4s.l936
Ohio Ind. AW.—lstpref. 5s. .1938
Iowa I xtension, 1st,7s....... 1909
Ter. As’n of St. L.—1st, 4%s. 1939
Peor. & East.—Income 4s ..1990
25
Southwest Ext. -1 s t, 7s.......1910
1st, oon. g. 5s.............. 1894-1944
C. Col Cin. & Ind.—1st, 7s,s.f. 1899 104% 105%
Paoiflo Ext.—Is 1,6s............ 1921 122%
8t.L.Mer.Br.Term.,g.5s,gu..l930
Consol, sink, fund, 7s...........1914
Mo.K.ATex.—1st, ext., 5s, g.1944
Terre
Haute Eleo. Ry—g., 6s.l914
86
Oin.ASpr.—1st,C.C.C.&I.7S. 1901
110% Mo.K. AT.of Tex. 1st,gu.5s.g. 1942 80
83 Tex. A Pac., E. D.—1st, g. 6s. 1905 108
Gleve. Lorain & Wh.—1st, 5 s .1933 1021*
Kansas City A P., 1st,4 s,g ..1990
Third
Avenue (N.Y).—1st 5s, 1937
72 77
(Jleve & Mah. V.—Gold, 5 b. . .1938
Dal. A Waco—1st, 5s, gu ..,.1 9 4 0 '80
81 T.AO.C.—Kan. A M ., Mort. 48.1990 79% 80%
Col. Mid. 1st, g., 6s. asstd___ 1936
66% Missouri Pacific—Trust 5 s .. .1917
Tol.Peo.
A West.—1st, g., 4s. 1917 *71%
70
Tr. etfs., con.,4s,2d ass’tpd.1940
lsto oll., 5s, g ..._ ................. 1920
105
67 Ulster A Del.—1st, con.,6.,5s. 1928
Del. Lack. A W .—
Mobile A Ohio—1st ext., 6 s ...1927
Union Elev., Chic.—1st, g. Ss.1945
120
Mort. 7s................................... 1907
129
St. L. A Cairo—4s, g u a r....-.1931 '82
Union Paoiflo—1st, 6s ..... ...1 8 9 6 103%
8vra. Bing. A N. Y .—1st, 78.1906 *125 lz8
Nash. Chat. A St. L.—2d, 6 s ..1901
1st, 6s...........................
1897 103%
Morris & Essex—1st, 7 s ....1 9 1 4 *141
N. O. A. No. E.—Pr. 1., g., 6 s ..1915
1st, 6s ................................... 1899 103%
Bonds, 7 s . . . . ......................1 9 00 *106
N.Y.C entral.—Deb. g. 4 s ....1 9 0 5 103%
Collateral Trust, 6s...............1908 100
fn of 1871............................ 1901 112
Collateral Trust, 5s......... ...1 9 0 7
N. J. June—Guar, lgt, 4 s ...1986 105
1st, con., guar., 7s............ 1915 141
Kansas Paoiflo—1st 6s, g ...l 8 9 5
Beeoh Creek—1st, gold, 4 s .. 1936 105
W arren—2d, 7 s ......................1900 *108
1st, 6s, g ........ ..................„ 1 8 9 6
Osw. A Rome—2d, 5s, g.,gu,1915
D.
/fcH.Can.—Pa.Div.,ooup.7s.l917
Utica A Bl. Riv.—48, g., gu.1922
O. Br. U P ,- F . o .,7 s ........... 1895
65
Albany & Susq —lst.gu.,7s. 1906
N. Y . A Put.—1st, g., 4«. gu.1993
Atoh. Col. A Pac.—1st, 6 s ...1905
32
30
1st, cons., guar., 6s.......... 1906
N.Y. A Northern—1st, 5s,g.l927
U. P. Lin. A Col.—1st,g., 5s. 1918
33
Revs. & Bar. 1st soup., 7&.1921 144
Wabash—Debenture,
Ser.
A
.
.1939
N. Y . N. H. A H.—1st, rear. 4s. 1903
103
Denv, Tramway—Cons. 6s, g. 1910
Debenture, Series B ............ 1939
30
Housatonio—Cons, gold 5s.. 1937
29
Metropol. Ry ~ lst,g u . g.6s.l911
Det. A Ohio. Ext. 1st, 5s, g .194«
99% 100%
N.Hay’nADerby,Cons.5s. 1918
Denv. A R. a — I op g ..5 s ...1928
86
88
St. L.K.O. AN.—St.C. Bdgeos. 1908 108
N. Y . Susq. A West.—2 d, 4% s.l937 *90
95%
Des Moines Un.Ry.—I&t,g.5s.l917
94
97
Terminal, 1st, e. 5 s ............ 1943 111 113% W estN.Y.A Pa.—Income 5 s ..1943
12
10
Det.M. A M.—L. g.
,s,ser.A.i911
18% Wilk.A East.—1st,gtd.,g.5s.Ì942 96% 93 West. Va. O. A Pitts.—1st, 6 s.1911
Dot. A Mack.—1st lien, 4s,g.. 1995 *17
18% Northern Paoiflo—
Wheei.AL.E.—1st. 5s, gold...l92C * 100 %
4s, gold.....................................1995
St.Paul A N. P.—Gen., 6 s ..1923 130
Wheeling Div., 1st, 5s, g ...l 9 2 8 *80
Brie—1st, ext. g. 4s.................. 1947 114" 115** Norfolk A South’n—1st, 5s,g.l941 104%
Extension A Imp, g., 5s.......1930
2d extended. 5 s _______
1919
Norfolk A West.—General. 6s.l931 123
Wis. Cent, income 5 s...............1937
7%
* No price Friday; these are tbe latest quotations made this week.
Latest Gross E arnings.
Jmrjestmeut
TFeefcorlfo| 1897-98.
EARNINGS.
The following table shows the gross earnings of every
s t e a m railroad from which regular weekly or monthly returns
oan be obtained. The first two columns of figures give the
gross earnings for the latest week or month, and the last two
oolumns the earnings for the period from January 1 to and
including such latest week or month.
The retu rn s o f the street ra ilw a ys are brought together sepxr'M tiy on a subsequent p a g e,
Latest Gross E arn ings.
Week o r Mo 1897-98.
1896-97.
Jan. 1 to Latest Date.
1897-98.
1896-97.
14,372
13,483
Adirondack....... Novemb’r.
184,636
178,815
37,215 ^ 26,481
Ala. Gt. South.. lstwk Jan.
37,215
26,481
62,698
62,832
Ala. Midland. . . October...
568,086
521,363
Ala. N. O.Tex. A Pao. Juno.
52.000
45.100 1,324,152 1,324,901
N. O rl.& N . E. 4thwkDec.
33.000
26,900
Ala. & Vicksb. 4th wk Dec.
623,685
608,578
35.000
29.100
Vioks.Sh. A P . 4thwkDec.
560,613
575,903
Allegheny V al.. Novemb’r. 236,016 176,997 2,324,947 2,142,287
33,379
21,162
Ann Arbor......... lstwk Jan.
33,379
21,162
18,280
8,169
Ark. Midland... Novemb’r.
108,800
84,069
Atch.T. A S.Fe.e Novemb’r. 3,889,246 3,187,885 31,250,710 28,035,252
Atlanta A Char. Septemb’r. 143,490 149,902 1,213,081 1,110,070
27,142
21,924
Atl. Knox. A No. December.
290,547
281,025
54,064
52,615
Atlanta & W. P. Novemb’r.
507,564
479,216
10,491
10,282
Atlan. A D an v.. lstwk Jan.
10,491
10,282
19,406
28,265
Austin A N’ west Novemb’r.
160,064
245,930
Balt. & Ohio___ December, 2,312,544 2,177,805 26,003,643 24,935,973
Bal. A O. Sou’w. lstwk Jan. 124,469 110,049
124.469
110,049
10,590
10,374
Bath A Ham’nds October...
29,200
29,466
2,523
2,232
Bir. A Atlantic. December.
25,874
23,765
60,061
Bruns w’kAW est October...
53,858
479,048
503,366
55,123
Buff.Rooh.APitt lstwk Jan.
56,550
55,123
56,550
59,271
Buffalo A Susa.. Novemb’r.
49,003
571,716
493,059
69,108
Bur.O. Rap. A N. lstwk Jan.
54.938
69,108
54,938
OanadianPaoific lstwk Jan. 401,00
320,006
401,000
320.000
5,435
5,185
Car. Midland... Novemb’r.
54,232
55,366
Cent, of Georgia lstwk J an. 110,669 103,073
110,669
103,073
Central of N. J. Novemb’r. 1,154,651 1,148,621 11,635,165 11,634,355
Central Pacific. Novemb’r. 1,399,595 1,069,448 13.031,653 11,508,340
41,826
Oharlest’nASav. October...
42.323
507,217
466,227
43,912
Char. & W. Oar. June.........
37.323
Ohes. A Ohio
lstwk Jan. 202,977 186,850
202,977
186,850
Chic. Bur. AQ.ri Novemo’r. 3,803,298 2,823,310 36,413,710 31,221,403
Ohio. & East. 111. lstwk Jan. 105,637
81,942
105,637
81,942
80,062
Ohio. Gt. West’n lstwk Jan.
62,138
80,062
62,13»
Chic. Ind. & L .. lstwk Jan.
50,587
43,045
50,587
43,045
Ohio. Mil. A St.P. lstwk Jan. 504,126 404,115
504,126
404,115
Ohio. A N ’thw’n. Novemb’r. 3,204,711 2,478,833 30,798,960 29,730,715
Chic. Peo. A St.L. December.
77,831
70,406
833,300
879,615
Chic. K'k I .A P .. December. 1,518,110 1,237,135 16,842,898 15,421,698
Oliio.St.P.M.AO. Novemb’r. 992,571 751,464 7,925,447 7,496,236
Ohio. Ter. Tr.RR. lstwk Jan,
21,648
25,193
21,648
25,193
Ohio. A W . Mich. lstwk Jan.
23,454
19,640
23,454
19,640
Choc. Ok. A Gulf 3d wk Deo.
20,875
15.939 1,207,196 1,030,488
Cin.G.APorts’tb December.
5,254
4,869
OLn. N.O. A T. P. December. 340,212 304,082 3,658,780 3,371,650
Clev.Can. A So.. IthwkDec.
20,247
17,634
666,125
704,078
Ol.Cin.Ch.&St.L lstwk Jan. 251,417 243,859
251,417
243,859
Peo. A East’n. December, 166,169 150,521 1,750,071 1,703,544
C l.L iO r. a Wheel. lstwk Jan.
27,043
16,533
27,043
16,533
Col. M idland.... December. 148,516 140,952 1,734,331 1,824,037
CoL H .V .A T o l. December. 262,631 205,930 2,533,605 2,480,924
GoLARedMount July...........
6,841
71,836
Col. Sand’y A H. 3 wksJune
46,964
348,874
49,826
342,909
Colusa A Lake.. December.
1,600
1,600
23,055
19,591
Crystal............ Novemb’r.
1,233
12,404
465
9,745
Oumb’l’d Valley Novemb’r.
69.538
60,734
757,329
756,002
Denv. & Rio Gr. lstwk Jan. 148,400 103,200
148,400
103,200
Oes M. A Kan.C 4thwkDec.
5,888
4,033
162,105
118,575
Des.M. N .& W .. December,
37,329
32,662
430,480
442,254
Det. G.Rap.AW. lstw k Jan.
21,741
21,741
16,530
16,530
Det. A Lima No. 4thwk Dec.
11.830
Dot. A Mackinac Novemb’r.
33,989
20,003
434,617
376,853
Duluth & Ir. R. October... 235,811 130.931 2,463,402 1,920,193
DuluthS.S.&Atl. 4thwkDeo.
47.830
43,463 1,591,115 1,901,543
KlginJol.AEast. December. 129,924
82,850 1,202,541 1,278,103
Erie..................... Novemb’r. 2.956,020 2,874,327 30,3i3,777 28,796,314
Eureka Springs. October...
4,499
53,331
4,681
50,997
Evans.AInd’plie lstwk Jan.
5,142
5,142
4.428
4,428
Evansv. A T. H. lstwk Jan.
19,025
19,025
17,827
17,827
Fitchburg.......... Novemb’r. 624,940 632,775 6.686,991 6,700,874
Flint. A P.Marq. lstwk Jan.
45,781
40,731
45,7al
40,731
Fla.Oent.APen. lstwk Dec.
46,009
39,923 2,212,381* 1,975,511
Ft.W’thADen.C. 4thwkDeo.
35,409
22,29o 1,302,713 1,010,879
Ft. W. A Rio Gr. lstwk Jan.
9,334
9,334
5,004
5,004
Gads. A Att. U. December,
840
865
8,686
10,604
Georgia R R ....... lstw k Jan.
29,220
29,220
28,247
28,247
Georgia A A la .. 4thwkDeo.
34,326
21,896 1,122,293
868,422
Ga.Oar’la A No. Novemb’r.
83,706
83,489
815,237
771,146
Geo. So. A F la.. December,
79,672
873,861
76,239
881,855
Gr. Rap. A Ind.. lstwk Jan.
33,499
33,499
27,562
27,562
Cln.R. A Ft. W. lstwk Jan.
6,189
6,189
6,199
6,199
Traverse City. lstwk Jan.
747
451
747
451
Mus. G. R. A I. lstwk Jan.
2,502
1,934
2,502
1,934
Tot. all lines lstwk Jan.
42,937
36,146
36,146
42,937
Gr.Tr’nk Syst’ m 4thwkDeo. 731,769 622,506 23,471,172 22,705,869
Ohio. A Gr. Tr. 4tbwkDec. 103,703 103,600 3,083,327 3,150,996
Det.Gr.H.&M. 4thwkDec.
31,623
34,196
988,785
958,121
4,384
Cin.Sag.AMao 4thwkDeo.
123,604
3,632
127,108
ToLS. A Musk. 4thwkDec.
3,147
111,509
3,024
83,829
Grea 1North’n—
St. P .M . A M. December. 1,529,266 1,273,469 16,691,071 15,771,859
East of Minn.. December. 153,479 137,640 1,970,627 1,933,745
MontanaOent. December. 198,439 166,281 2,085,726 1,926,488
Tot. system. December. 1,881,184 1,577,390 20,747,424 19,632,092
14,636
G'lfB’mntAK.0. December.
10,031
132,714
97,316
Gulf A Chicago. December.
7,400
5,128
52,105
47,860
3,300
3,300
Hoos.Tun. A wil. December.
54,231
50,526
Ho us. A Tex.Oen Novemb’r. 430,500 409,368 3,309,717 3.342,179
Illinois Oentralt December. 12555393 12096516 t24723399 t 21783291
36,017
Ind.Deo.A West. Novemb’r.
36,591
62,526
Ind. 111. A Iowa. Novemb’r.
53,761
687,599
682,089
79,844
In. A Gt. North’n lstwk Jan.
58,034
79,884
58,034
1896-97.
1897-98.
1896-97.
s
$
$
$
1
tlnteroe. (Mex.) Wk.Dec.25
46,110 2,597,410
53.700
Iowa Central.. lstwk Jan
24,021
24,021
29,028
29,028
Iron Railway.. Novemb’r.
39,880
3,283
3,750
35,256
Jack. T. A K. W Novemb’r.
282,280
22,174
25,299
273.855
KanawhaAMlob lstwk Jan.
9,403
9,403
9,770
9,770
K.C.F. Scott AM 4thwkDeo. 109,767
95.589 4.868,489 4,431,724
K.C.Mem. A Bir. 4thwkDeo.
32.058 1,209,317 1,188,877
41,468
Kan. C. N. W ___ December.
297,141
42.107
362,553
39,263
Kan.City A Om. 4thwkDec.
123,187
4,633
7,156
242.855
K.
C.Pitts.
A G ..Jan.
22,849
47,845
lstwk
22,849
47,845
Kan.C. Sub. Belt lstwk Jan.
7,580
5,236
7,580
5,236
Keokuk A West. 4thwkDec.
11,734
415,852
10.990
393,143
L. Erie All A So. October...
7.380
5,885
49,784
51,331
L. Erie A West. lstwk Jan.
50.371
60,020
50,371
60,020
Lehigh A Hud.. December.
32,019
36,608
390,851
387,826
Lehigh Val. RR. October... 2,343,539 2,117,217
Leh. V. Coal Co. October... 2,536,334 2,081,871
Lex’gtonAEast, Novemb’r.
178,250
15.614
12,167
188,771
Longlsland RR, December. 282,832 243,797 4,148,096 3,938,240
Long Is. System December
291,694 251,036 4,500,732 4,303,135
Los Ang. Term December,
4,832
7,384
83,379
93,248
Louis.Ev.ASt.L. lstwk Jan,
20,091
23,407
20,091
23,407
Lou. H. A St. L._ lstwk Jan,
6,224
6,224
7,711
7,711
Louisv. AN ash v, lstwk Jan, 380,745 357,310
380,745
357,310
MaconABirm.. December.
5,423
6,601
61,984
67,079
Manistique____ December.
110,360
5,925
4,640
116,564
MemphisAChas 3d wk Dec,
31,257 1,387,566 1,274,315
35,008
tMexican Cent,. lstwk Jan, 217,170 213,878
217,170
213,878
Mexican Inter’! Septemb’r, 242.188 214,844 2,259,747 2,110,013
(Mex. National. lstwk Jan, 103,662
84,215
84,215
103,662
Mex. Northern. Novemb’r.
3 6,»97
39,036
662,008
537,177
tMexioan R’way Wk Dec.25
63.500 3,705,754 3,202,609
77.000
Mexican So....... 3dwk Dec,
661,751
12,290
13,640
532,779
Mlnneap.ASt.L. lstwk Jan,
25,164
25,164
27,635
27,635
M.
St.P.AS.8t.M
42,341
42,341
61,315
lstwk Jan,
61,315
Mo. Kan. A Tex. lstwk Jan, 228,181 198,130
198,130
228,181
Mo.Pao.AIronM lstwk Jan, 415.000 321.000
415,000
321.000
Central Br’oh lstwk Jan,
11,000
21,000
11,000
21.000
Total............ lstwk Jan, 436.001
436,001)
332.000
332.000
Mobile A Birm.. lstwk Jan,
6,111
9,634
6,111
9,634
Mobile A Ohio.. December. 400.600 367,132 4,013,079 3,715,761
Mont. A Mex. Gif October...
935,179
117,868 101,992 1,161,800
Nash.Ch.ASt.L, December. 458,379 433,899 5,460,929 5,004,914
Nel. A Ft. Sh’p’a October...
13,114
7,718
Nevada Central October...
29.737
33,310
4,305
3,498
N. Y. C. A H. R .. December, 3,674,592 3,638,168 45,609,139 44,075,029
N Y. Ont. A W .. lstwk Jan,
46,177
47,071
46,177
47,071
N.Y.Susq. A W .. Novemb’r. 220.601 210,654 2,036,279 2,067,753
Norfolk A West lstwk Jan, 221,432 224,819
224,819
221,432
Northes’n(Ga.). October...
52,044
52,086
8,295
9,228
Northes’n (S. 0.) June.........
41,434
36,201
North’n Central Novemb’r. 615,187 551,897 6,146,263 5,766,482
North’n Pacific. lstwk J an. 307,208 201,217
201,217
307,208
Ohio River......... lstwk Jan.
17,567
17.703
17,567
17,703
Ohio Riv. A Chas December.
184,579
16,772
184,840
16,060
OhioRiv. A L .E December.
2,664
2,055
Ohio Southern.. December.
701,228
711,312
78,606
42,387
Om.Kan. C. AE, 4thwkDeo.
608,327
702,615
16,956
21,438
Oregon Imp. Co, October... 349.002 277,383 3,251,600 2,720,562
Oreg.RR.ANav lstwk Jan. 116,636
78,561
116,636
78,561
Oreg. 8h. Line.. Novemb’r. 548,317 526,477 5,438,526 5,105,882
Pacitto Mail....... Novemb’r. 338.080 324,051 3,852,407 3,579,623
Pennsylvania. $. Novemb’r. 5,819,924 5,246,424 58,605,272 56,904,272
PeoriaDeo.AEv. lstwk Jan.
14,609
19,178
14,609
19,178
Petersburg......... Novemb’r.
508,938
519,901
42.346
42,766
Phila. A E rie.... Novemb’r. 496,164 476,596 4,255,057 4,161,177
Phila. A Read... Novemb’r. 1,924,717 2.003.801 19,365,836 19,295,127
Coal A Ir.Co.. Novemb’r. 2,227,059 2,030,039 20,423,545 20,966,722
Tot. both Co’s. Novemb’r. 4,151,776 4,033,840 39,789,381 40,261,849
Ph. Read. A N.E. Novemb’r.
632,291
606,884
54,262
68,213
Phil. Wilm. A B. Novemb’r. 753,859 672,259 8,19 7,246 8,205,918
Pitts.C.C.ASt.L. Novemb’r. 1,384,294 1,098,620 13,580,709 13,208,683
43.994
Pitts.Lisb.AW’n December.
47,541
4,308
4,891
Pitts.Bes.AL.E. December,
639,512
642,593
49,555
75.595
23,485
Pittsb. A Wes’n. lstwk Jan.
20,812
23,485
20,812
Pitts. CLATol. lstwk Jan.
10,107
11,688
10.107
11,683
Pitts. Pa. A F . lstw k Jan.
1,998
3,068
1,998
3,068
35,590
Total system.. lstwk Jan.
35,568
35.590
35,568
Pitt.Young. A A. Novemb’r. 158,765
95,984 1,381,397 1,313,209
642,464
Rieh.FFksb,AP. Novemb’r.
643,499
48,999
55,260
Rich.APetersb. Novemb’r.
313,402
309,179
25.346
25,496
Rio Grande Jet October...
29,084
48,002
Rio Gr. South’n. Lstwk Jan.
5,551
8,053
5,551
8,053
Rio Gr*de West. lstwk Jan.
33,750
39.000
33,750
39.000
St. Jos. A Gr. I ... lstwk Jan.
20,300
23.000
20,300
23.000
St.L. Ch.A St. P. December.
297,847
25.500
308,308
33.000
St.L.Ken’etASo. December,
66,410
6,580
6,268
St.L. ASan Fran. lstwk Jan.
85,372
85.372
95,059
95,059
St.L. Southwest. lstwk Jan.
81.800
95,700
81,800
95.700
St. Paul A D ul.. December. 118,483 107.405 1,608,569 1,537,461
San Ant. A A. P. Novemb’r. 205,414 233.004 1,861,431 1,899,815
SanFran. A N.P. December.
744,691
805,660
59,324
51,181
S.Fe Pres. A Ph. October...
62,941
52,077
Sav. Fla.AWest. October... 299,922 340,441 2,814,771 2,822,568
Seab’d A R’nke. July...........
59,064
65,271
314,944
Sher.Shrev.A8o. 4thwkDec.
328,547
11,623
13,234
October...
161,528
16,882
SiLSprs.O. A G.
161,819
12,974
Silverton........... December.
3,843
5,500
205,562
Sioux C. A Nor. Novemb’r.
21,232
253,622
30,637
27,786
So.HavenAEast December.
26,806
1,923
1,658
So. Pacific Co.—
,643,188
Gal.Har.AS.A Novemb’r. 408,971 507,190 4,010,582
831,891
Louis’a. West. Novemb’r.
62,166
802.011
86,115
,696,896
Morgan’sLAT. Novemb’r. 505,583 613,241 4,492,777
259 462
N.Y. T. A Mex. Novemb’r.
35.899
317,200
40.059
.237,385
Tex. A N . Orl.. Novemb’r. 108,467 130.671 1,301,271
Atl. Prop’tes.o Novemb’r. 1,164,275 1,411,464 11.119,31211 872,952
Pacific system Novemb’r. 3,302.107 2,682,970 31,648.783 29 ,118,917
Total of all./ Novemb’r. 4,896.831 4.503.802 46,077.811 44 ,321,843
So. Pao. of Cal. Novemb’r. 960,221
793,185 9.356,056! 9 .082,990
,060,799
So.Pao.ofAriz. Novemb’r. 235,233 214.634 2,306,860
,041,864
So.Pao.ofN.M. Novemb’r. 108,862 106.841 1,205,799
,031.007
Northem Ry.. Novemb’r. 210,932 190,717 2,083,981
338,071
Southern R y .... Lstwk Jan. 346.878 338.071
346,878
356.995
Spok.F’ls ANor. October...
49,521
518,673
44,089
38,562
Stony Cl. AC.Mt. Novemb’r.
33.895
1,092
1.381
292,221
Texas Central.. 4thwkDec.
344,247
9,477
7,019
125,290
Texas A Pacific. Lstwk Jan. 146,603 125,290
146,603
Tex. S.V.A N.W. Septemb’r.
4,569
3,597
31,973
27,674
ToLAOhioOent. lstwk Jan.
31,973
27,674
940,906
947.205
Tol.P. A W est.. IthwkDec.
23,323
23.160
34,899
37,753
Tol. St. L. A K.C. lstwk Jan.
34.899
37,753
I
U nion P acificUnion P. R R .. Novemb’r. 1,696,410 1,363,337 15,003,829 13,206,698
Ach.Ool.AP. > Novemb’r.
470,657
301,464
48,661
31,143
Aoh.J.C.AW $
1
ailroad Intelligence.
R oads.
Jan. 1 to L atest D a ti.
R o ad s.
AMD
RAILROAD
127
THE CHRONICLh
J anuary 15 1818 j
128
THE CHRONICLE.
Latest Gross E arn ings.
BOADS.
W eekorM o 1897-98.
1896-97
Jan. 1 to Latest Date.
1897-98.
4th week o f December.
1896-97
Un.Pac.—(Con.)
Cent.Branch > lstwk Jan.
21,000
11,000
11,000
21,000
Gen.Br.&L’dL Novemb’r. 104,628
697,171
75,591 1,029,554
Gr’d total.*« Novemb’r. 1,988,962 1,561,810 17.692,296 15,087,533
tUn.P.Den.* G .. 4th wk Dec.
87,304
64,611 3,547,585 3,101.710
Wabash.............. lstwk Jan. 205,259 174,504
174,504
205,259
Waco & Nortirw. Ootooer...
211,262
21,523
37,054
182,729
W . J ersey &Sea’e Novemb’r.
147,463 145.902 2,387,386 2.402,102
W.V.Cen &Pitts December.
98,306
93,387 1,137,553 1,162,612
W estVa.* Pitts. October...
326.826
36,285
35,164
329.859
Western of Ala. Novemb’r.
532,151
50,234
539,370
62,475
West. N.Y.&Pa. lstwk Jan.
49,400
51,100
49,400
51,100
Wheel. & L. Erie lstw k Jan.
16,353
26,063
16,353
26,063
W il. Col. & Aug. June. . . . . .
39,532
38,977
Wisconsin Cent. lstw k Jan.
60,490
71,559
60,490
71,559
Wrightsv.&Ten. Novemb’r.
84,750
9,158
8,289
80,668
"York Southern. Novemb’r.
6,080
63,286
64,395
5,718
* Figures given do notinolude Oregon Ry. & Nav., Un. Pao. Denver &
Gulf, Denver Leadville & Gunnison, Montana Union and Leavenworth
Topeka & Southwestern, a These figures include results on leased lines.
6 Includes earnings from ferries, etc., not given separately. { Mexi
can currency, c Includes only half of lines in which Union Pacific has
a half interest, d Includes operations of the Ohio. Burlington & North
ern in both years. 5 Covers results of lines directly operated east of
Pittsburg.
t Chesapeake Ohio & So’western included, beginning with July, Ohio
•Valley, beginning with August, and Chicago & Texas beginning Octo•ber, but each road for this year only.
e Figures from July 1 include results on A. T. & S. Fe, Gulf Col. &
S. Fe, S. Fe Pacific (old Atlantic & Pacific» and 8o. Cal. Ry. Results
on Sonora Ry. and New Mexico & Arizona Ry., formerly included, are
«««eluded after Julv 1.
Chicago & West Michigan
Cleve. Canton & South’n.
Ulev Oin. Chic. & St. L ..
Des Moines & Kan. City..
Det. Gd. Rapids & West.
Duluth So. Shore & Atl.
Grand Rapids * Indiana
Cm. Rich. & Ft. Wayne
Traverse City.......... ......
Musk. Gr. Ràp. * Ind..
Interoceanio (Mex.).........
Kan. City Ft. S. * M em ..
Kan. C. Mem. & Birm___
Keokuk * Western.. . . . . .
Louisv. Evansv, & St. L
Mexioan Rail w a v ..........
Mobile * Birmingham...
Omaha Kan. C. * East..
Rio Grande Western____
Sherman Shreve. & S o ...
Texas Central ................ .
folecio Peoria * West’n ..
Un. Pao. Den. & G u lf....
[V ol. LXVI,
1897.
1896.
$
35,060
20,247
456.18«
5,888
34,869
47,830
55,04*
11,437
1,096
3 390
53 700
109.767
41,468
11,734
42,068
77,000
17,358
21,438
104,000
13,234
9,477
23,323
87,304
*
33,100
17,634
401,48*
4,033
31,006
43,463
47,720
10,354
758
3,570
46,110
95,589
32,058
10,99 »
36,368
63,500
10,17«
IP,«566,200
11,623
7,01»
23,16°
64,611
Total (88 ’•oads)......... . 11,650,751 10,187,270
Net increase (14*37 p.c.).
Increase.
$
1,960
2,613
54,705
1,855
3.863
4 337
7,320
1,033
333
7.590
14,178
9,410
744
5,70 >
13,500
7,180
4.482
37,800
L611
163
22,693
1,519,608
1,463,481
Decrease.
$
180
......... . !
56,127
Net Earnings Uonthly to Latest Dates.—The table follow
ing shows the gross and net earnings of Steam railroads
reported this week. A full detailed statement, including all
roads from whioh monthly returns can be obtained, is given
onoe a month in these columns, and the latest statement of
Latest tfross Earnings by Weeks —The latest weekly earn this kind will be found in the Chronicle of December 18,
ings in the foregoing are separately summed up as follows:
1897. The next will appear in the issue of January 22.
For the first week of January our preliminary statement 1898.
•covers 65 roads, and shows 18 02 per cent increase in the
<— Gross E arn ings.— »,------S et E arnings.------ «
1897.
1896
•aggregate over the same week last year.
1897.
1896.
1 st week o f Janu ary.
Alabama Gt. Southern...
Atlantic * Danville___
Balt. & Ohio Southwest..
Buffalo Rooh. & P Ittsb’g
¿Burl. Ced. Ran. & North
(Chicago * East. Illinois
•Chic. 'iDd’plis & 3t. L. ..
Chicago Milw. & St. Paul
'Chic. Term. Transfer___
Chicago & W. Michigan..
•Cleve/ Cin. Chic. & St. L ..
,Ulev. Lorain & Wheel’g..
D en ver* Rio Grande...
•Det. Gd. Rapids & West.
Evansv. & Indianapolis.
Evansv. * Terre Haute.
Flint & Pere Marquette .
Georgia.............. ................
•Grand Rapids*Indiana
Cincinnati R. * Ft. W .
Musk. Gr. Rap. & Ind
International & Gt. No..
•Xowa Central..................
Kanawha* Michigan...
Kan. City Pittsb. & Gulf
Kan. City Sub. Relt..T1,„
Lake Erie * Western—
Louisv. Evansv. * St. L.
.Louisville Hend.& 8t.L ..
Louisville * Nashville...
Mexican Central............. .
Minneapolis & St. Louis.
Minn. St. P. & Ste. S. M.
M o.K an sa s* T e x a s....
Mo. Pacific & Ir<* i M t...
Mobile & Birmingham...
N. V. Ontario & Westerj
‘Northern P a c ific ........
Ohio R iv e r ....... . . . . . . . .
Peoria Dec. & Evansv..
•Pittsburg & W estern .....
R*o Grande Southern___
Rio Grande W estern .....
Bt. Joseph * Gd. Island..
St. Louis & San F ran ....
Bt. Louis Southwestern..
Southern R a ilw a y .......
Toledo & Ohio Central...
Tol. St. L. & Kan. City...
Western N. Y . & Penn...
Wheeling & Lake E rie...
Wisconsin Central...........
Total (65 roads)..........
Net increase (18*02 p. c.)
1898
1897.
*
37,215
33,379
10,491
121,469
55,12
69,108
401,000
1 »0 66»
202,977
105,631
80,062
50,587
504,126
21,64»
23,454
251,417
27,043
148,400
21,74*
5,14:
19,025
45,781
9,334
29,220
33,49»
6,18»
747
2,502
79,844
29,02»
9,770
47,815
7,580
60.020
23,407
7,711
380,745
217,170
103,662
27.63
61,315
228,18!
415,000
21,000
9,634
47,071
221,432
307,20»
17,703
116,636
19,178
35,568
8,053
39,00
23,00
95,05
95,700
346,878
146,603
31,973
34,899
205,25»
51,100
2 6,0 6 ”
71,55»
*
2 « ,481
21,162
10,282
11< ,049
56,55<
54,938
320,000
103.073
186,850
81,942
62,13»
43,045
404,115
25.19.-i
19,640
243,859
16,533
103,200
16,530
4,42»
17,827
40,731
5,004
28.247
27,56
6,199
45
1.934
58,034
24,021
9,403
22,849
5,236
50,371
20,091
6,224
357,310
213,878
84,215
25,164
42,341
198.130
321,000
11.000
6,1 i l
46,177
224,819
201,217
17,567
78,561
14.609
35,590
5,551
33.750
20,300
85,372
81,800
338.071
125,290
27.674
37,753
174.504
49,400
16,353
60,490
6,099,474
5,168,189
Increase.
#
10,734
12.217
209
14,420
T4,170
81,000
7,5 46
16,127
23,645
17,924
7^4 ï
100,011
3,814
7,558
10,510
45,200
5,211
714
1,198
5,050
4,330
973
5,937
296
568
21,810
5,007
367
24,996
2,344
9,649
3,316
1,487
23,435
3,292
19,447
2,471
18,974
30,051
94,000
10,000
3,523
894
105,991
136
38,075
4,56»
2,502
5.25
2,700
9,687
13,900
8.807
21,313
4,299
- ..............
30,755
1,70
9,710
11,069
942,530
931,285
Decrease.
æ
1,427
3,545
10
3,387
22
2,854
11,245
For the fourth week of December our final statement covers
88 roads, and shows 14*37 per cent increase in the aggregate
over the same week last year.
Ath week o f December.
1897.
$
Previously rep’d (62 r’ds 10,247,835
Ala. No. & Tex. Pao.—
52.000
New Ore. & No. East...
33.000
Ala. & Vicksburg.........
35.000
Vicks, 8h. * Pao.........
1896.
Increase.
$
9,008,687
$
1,295,095
45.100
26,99$
29.100
6.900
6,100
5.900
Decrease.
%
55,947
$
Roads.
$
119,645
96,380
Ann Arbor.................. Nov.
43,497
Jan. 1 to Nov. 30....... 1,190,063 1.056,603
390,062
Atlantic & Danv’e.a..Nov.
50,693
50.082
16,086
Jan. 1 to Nov. 3 0 .....
490,699
499,748
130,401
July 1 to Nov. 3 0 .....
230,455
231,495
65,077
Austin & Northw’n..Nov.
19,406
28,265
6,860
Jan. 1 to Nov. 30.......
160,064
245,930
36,680
534,763
495,620
B alt.* Ohio 8outhw..Nov.
153,190
Jan. 1 to Nov. 3 0 ,..., 5,850,509 5,633,326 1,789,224
July 1 to Nov. 3 0 .7 ... 2,882,535 2,625,732
931,931
Central Paoitto.b....Nov. 1,399,595 1,069,448
628,573
Jan. 1 to Nov. 30....... 13,031,653 11,503,340 5,581,314
Ohio. & West Mioh. ..Nov.
147,826
129,261
30,341
Jan. 1 to Nov. 30....... 1,515,653 1,518.595
319.091
Columbus Gas C o ....D ee................. .
17,407
Apr. 1 to Dee. 3 1 ...........................
87,431
30,401
Det. Gd. Rap.& W.a. Nov.
120,173
93,433
Jan. 1 to Nov. 3 0 ..... 1,198,540 1,092,475
259,392
247.229
Flint & Pere Marq.a Nov.
72,821
188,225
Jan. 1 to Nov. 30....... 2,532,783 2,362,952
673,505
430,500
Houston & Tex.Cent.Nov.
198,902
409,368
Jan. 1 to Nov. 3 0 ..... 3,309.717 3,342,179
983,003
753,666
July 1 to Nov. 3 0 .. .. 1,802,437 1,834,571
Illinois Central, a __ Nov. 2,563,709 1,869,566
992,955
Jan. 1 to Nov 30.......22,168,006 19,686.775 6,553,324
July 1 to Nov. 30.......11,509,057 9,312,727 3,597,918
2,979
Jackson Gas Co........Dee...........................................
19,177
Mar. 1 to Dee. 31...............................................
306,515
275,565
76,727
Long Island R R .b...N ov.
Jan. 1 to Nov. 30....... 3,865,264 3,694,443 1,197.766
866,32 2
July 1 to Nov. 30....... 2,204,322 2,029,198
70,159
283.253
Long Isl’ d R R Sys.b Nov. 316,072
Jan. 1 to Nov. 30....... 4,209,038 4,057,099 1,283,031
983,351
July 1 to Nov. 30____ 2,416,179 2,283,794
*236,020
474,516
Mexioan National.... Nov.
494,623
Jan. 1 to Nov. 3 0 ..... 5,481,482 4,725,757 ”2,667,527
20,739
36,897
39,036
Mexioan Northern...Nov.
537,177
662,008
309,657
Jan. 1 to Nov. 30.......
244,135
137,430
229,963
July 1 to Sov. 3 0 .....
4,113
9,831
10,878
Mexioan Telephone.. Nov.
91,626
35,259
95,574
Mar. 1 to Nov. 30.......
73,869
23,755
83.753
Ohio River.b............ Nov.
319,632
892.597
Jan. 1 to Nov. 3 0 ......
885,663
228,945
526,477
Oregon Short Line.a.Nov.
548.317
Jan. 1 to Nov. 30....... 5,433,526 5,105.282 2,445,116
July 1 to Nov. 3 0 .... 2,732,522 2,546,651 1,089,811
95,079
22,707
79.614
Peoria Dee. * E v— Aug
561,315
105,547
Jan. 1 to Aug. 31.......
592,954
476.598
153.771
Phila. & Erie.b .....N o v ,
496,164
Jan. 1 to Nov. 3 0 ..... 4,255,057 4,161,177 1,271,189
227,332
100,319
Pittsburg* Western.Nov.
275,613
878.212
Jan. 1 to Nov. 30....... 2,761,068 2,658,758
428,812
July 1 to Nov, 30....... 1,409,780 1,219,839
21,232
17,126
Sioux City & North ..Nov.
30,637
205,562
73,218
Jan. 1 to Nov. 30.......
253.622
78,326
21.382
Tol.Peoria & West.b.Deo.
86,347
260,570
947,205
Jan. I to Deo. 31.......
940.906
468,194
146,523
July 1 to Deo. 31.......
520,218
Union Pacific—
726,505
Union Pac. Ry.b...Nov. 1,696,410 1,363,337
Jan. 1 to Nov. 3¡>...15,003,829 13,206,698 5,586,100
26,970
Cent. Branch.b ...N ov.
55,967
44,448
247,708
Jan. 1 to Nov. 3 0 ...
558,897
395,707
14,634
Leased lines.b — Nov.
48,661
31,143
83,976
Jan. I to Nov. 3 0 ...
470,657
301,464
840,206
Grand total.b ..Nov. 1.988,962 1,561,810
Jan. 1 to Nov. 30...17,692,296 15,087,533 6,513.656
34,389
West.Va.Cent.&Pitts.Bec.
98,306
93,337
177,492
July 1 to Deo. 3 1 .. ...
583,495
587,280
18,079
W.Virginia* Pittsb..Oot.
36,285
35,164
152,895
329,859
326,326
Jan. 1 to Dot. 3 1 .......
72,913
July 1 to Oct. 3 1 .......
144,506
134,9i9
11,891
116.995
58,403
13,483
85,976
141,207
1,751,621
837,005
416.552
4.419.839
20,836
296,022
16,817
89,823
9,769
135,806
50,917
603,863
184,079
1,024,048
756,794
489,467
5,477,016
2,642,694
2,655
17,261
71,560
1,278.762
831,088
62,564
1.322.839
932.552
”239,616
”2,209,115
17,897
346,402
121,846
3,564
27,323
23,169
301,939
238,761
2,114,858
864,733
30,869
150,960
162,645
1,215,007
79,010
896,635
450,252
8,829
43,445
18.512
240,341
116,855
515,955
4,955,800
24,817
180,049
def.233
def.24,792
569,485
5,358,034
32.965
197,811
20,267
170,973
77,546
a Net earnings here given are after deducting taxes,
b Net earnings here given are before deducting taxes.
* Deducting other expenditures for repairs, replacements and general
expénses, net income applicable to interest on bonds in November was
JANUARY
THE
15, 1898.J
CHRONICLE.
129
$83,081, against $125,142 last year, and irom January 1 to November
30, $1,2 70,892,against $1,223,139. This is the result m Mexican dollar8
treated (aooor ling co the company’s method of keeping its accounts)
as equivalent to SO cents in United States money—chat is, all depreoi
ation beyond 20 per cent has already been allowed for.
Street Railway Net Earnings.—The following table gives
the returns of S t r e e t railway gross and aetearaiags received;
this week. Ia reporting these net earnings for the street rail
ways, we adopt the same plan as that f »r the steam ro ids—
Interest Ctarges anil Surplus.—The following roads, in that is, we priat each week all the returns received that
addition to their gross and nec earnings given in the fore week, but onoe a month (on the third or the fourth Saturday)
going, also repirt charges f >r interest, & o ., with the surplus we bring together all the roa is fur fishing returns, and the
or deficit above or below those charges.
latest statement of this kind will be f >uud in che C h r o n ic l e
,— Ini. Rentals, <£c.— * r-B a l. o f Bet E a m ’gs.—* of D jo jmber 18, 1897. The next will appear in the issue of
1897.
1896.
1897.
1896.
January 22,1898.
Roads.
Chic. & W. Mieh........Nov.
Jan. 1 to Nov. 3 0 .....
Det. Gd. Rap. &West.. Nov.
Jan. 1 to Nov. 3 0 .....
Flint & Pere Marq. ..Nov.
Jan. 1 to Nov. 30. . . .
Long island RR .......Nov.
July 1 to Nov. 30.......
Long Island RR Sys.Nov.
July 1 to Nov 30.......
Tol. Peoria & West...Deo.
Jnly 1 to Deo 3 1 .....
$
34,599
379,389
16,146
175,932
54,560
588,091
105,537
513,788
117,196
571,823
22,373
134,237
$
$
$
32,330 def 4,258 def 11,494
372,322 def.60.298 def.7«,800
15,389
14.255 def.6,120
83,460
50,823
18,261
94
564,205
85,414
39,658
111,479 *df.l9,479 *df.35,862
521,549 *439,398
*377,192
122,798 *df 37,706 *df. 56,(77
577,964 *498,392 *422,241
29,147
def. 991 def. 10,635
139,011
12,286 def.22,156
* After allowing for other income received.
r—
„
J
Roads.
Calumet Electric ....D e e .
May 1 to Dec. 31.......
Columbus (0.)8t. Ry.Deo.
Jan. 1 to Deo. 31.......
Pough.City&W Falls.Deo.
Jan. 1 to Dec. 31.......
United Tract.(Pitt9.).Deo.
July 1 to Deo. 31.......
Waterbary Tract’n . Deo.
Jan. 1 to Dec. 31.......
Oct. 1 to Dec. 31.......
Gross E a rn in gs.——. — Net E arnings.-— *
1897.
1896.
1897.
1896.
$
$
$
$
14,892
...................................
142,921
........................ J ...” . .
55.496
52,111
30,461
2 6,131
698,901
629,489
322,025
3 2 1 .0 4 4 ,
6,179
6.035
2,400
2,633
86,406
86,134
33,636
3 6 ,5 9 7
127.504 119,238
72,648
5 1 ,0 2 6
7 4 «,6 l8
722.636
412.184
341,269-'
24,272
21.770
11,501
9,523
253,613
242,674
112,058
113,480
69,123
64,331
31,230
3 0,556-
Interest Charges and Surplus—The following S t r e e t
STREET R U L V T ifS AND TRACTION COMPANIES.
The following table shows the gro is earnings for the latest railways, in addition to their gross and net earniags givea in
foregoiag, also report charges for interest, &o., with the
period of all s t r e e t railways from whioh we are able to ob the
tain weekly or m mthly returns. The arrangement of the surplus or defioit above or below those charges.
<——Int., rentals, etc.— * .—Bat. o f Net Earn's.—*
table is the same as that for the steam roads—that is, the
1897
1896.
1897.
1396.
first two columns of figures give tne gross earnings for the
Roads.
$
$
$
$
Waterbary
Trao.
Co..Deo.
3,272
5,130
8,229
4,393
latest week or month, and the last two columns the earnings
Jan.
1
to
Deo.
31.......
11,703
15,390
19,547
15,163
for the calendar year from January 1 to and inoluding suoh
latest week or month.
STREET RAILW AYS AND TRACTION COMPANIES.
Latest Gross E arnings.
G ross
E arnings .
Week o r Mo 1897-8. 1896-7,
Ia n. 1 to Latest Date.
1897-8.
1896-7.
«
$
Akron Bedf’d & Clev Novemb’r.
6 675
94.336
90,694
Amsterdam St Ry. Novemb’r,
3,927
45.278
45 194
Novpmb’r.
6, »75
Atlanta Railway
82,53
79,965
Atlantic Coast El pc. October...
6,282
A tl. Highl’ ds Red B’ k
& Long Br. Elcc.Ry Novemb'r.
2,863
2,103
3«,582
Baltiinoi e Con. Ry.* ... December. 188.033 179,675 2,324,476 2,260.186
Bath St Ry. (M*lne) N vemb’r.
1,424
1,483
18,329
19,020
Bay Cities Consol . .. Novemb’r.
6,344
6,5f 9
Binghamton St. R y... Novemb’r. 11,991 10,233
Bridgeport Traction Novemo’ r. 25,765 23,841
29 3 814 296,883
Brockton Con. 8c. Ry Novemb’r. 25,889 23,899 3 ¡.4,92-’ 293,932
Br’klyn Rap Tr. Co.—
Brooklyn Heights >
B ’klyno’ns & Sub. 5 December. 446,799 432.750 5,383,762 5,277,256
Buffalo Rsllwav........ Septemb’r.
1,017,129 1,028,547
Calumet Electrio.. . . . December. 14.892
Charleston City R y.. Novemb’r. 12,970
Cin &Miaiui V.tl. IT iC August . . .
9.47i
Citizens’ Si.Ry ,Indo. Deo amber. 87,650 77,378
Novemb’r.
i.6i7
City Eleo. (Rouie.Ga )
1,608
21.227
18,825
Cleveland Electrio... Novemb’r. 138 826 126,058 1,485,535 1,499,270
Cleve. Painsv A E
Novemb’r.
7,319
80,393
5,654
Columbus 8t Ry. (O.) December. 55,496 52,111 608,90'
6 29Ü89
Coney Island & B’ lyn Septe nb’r.
287,808 273,308
Consoli’d Trao. (N. J.) Novemb’r. 253,700 229,574
Danv. Gas El. Light A
Street Ry................. Novemb’r. 10,141
95,735
Denver Con. Tramw.. Novemb'r. 57,038 53,059 658,373 666.614
Detroit Citi’ ns’ St. Ry December. 99,36 . 90,203 1,10 ¡,249 1,040.546
Detroit Eleo. Ry......... Deoember. 35,027 3 *,84
394,214 423,069
Duluth St. Rv............ Novemb’r. 16,242 15,915 1 7 3 ,113 197,603
Englewood & Chic... Septemb’r.
6,357
Erie Eleo Motor Co.. Novemb’r. 11,156 10,441 1*28.6*6*1 1*39*1*8*7
Galveston City R y ... Septemb’r. l i,5 4 2 19,148 163,399 161,692
Harrisburg Traction Novemb’r. 18,883 15.956
Herkimer Mohawk II
ion <v F’kfort Ei. Ry. Novemb’r.
3,320
3,270
36,079
38,839
Hoosick Ry ................ October...
6 i9
6b0
6,541
7,233
Interstate Consol, oi
N orth Attleboro. . . . Novemb’r. 10,182 • 9,736 119,006 114,023
Kingston City R y.. . . Novemb’r.
4,474
4,296
50,220
49,779
Lehigh Traotiou . . . . Novemb’r.
8,480
9,369
99,945 111,226
London St. Ry. (Can.). Novemb’r.
7,496
9 1,740
86.510
6,553
Lowell Law. & H av.. Novemb’r. 32,264 28,481 407,345 379,833
Metrop.(Kansas City) 1st wk Jan. 33,794 28,813
33,794
28,813
Metro. W. Side (Chic.) Novemb’r. 98,817
Montgomery 8t. Ry.. Novemb’r.
2.476 ’ 4*802
*4*9.964
52.5*9*6
Montreal Street Ry .. Novemb’r. 110,899 100.787 1,2 47,7-2 1,172,8 L6
Nassau Eleo. (B’kiya) Deoember. 140,955 117,996 1,905,453 1,461.131
Newburgh Electric .. Novemb’r.
5,121
5,7 3
77,345
8 >.541
New London St. R y.. Novemb’r.
3,150
3,042
50,276
50.346
New Orleans Traction December, 106,543 109.5>4 1,235,368 1,322,459
North 8hore TractioD lstwk Jan. 22,482 21.956
22,482
21,956
Ogdenaburg St. R y... Novemb’r.
2,2 i 6
1,343
18,69
16,168
Paterson Ry .............. Novemb’r. 28,830 2 3 ,6 18 317,366 293,719
Po’keepsie <feWapp.F Deoember.
6,1 >9
6, >6
86,40a
86,131
Richmond Traction.. Deoember. 10,294
8,034
Boobester Ry.............. Septemb’r.
589,89s
6*52.3*73
Box »’huh H & Nor’n Novemb’r. ” 5,240
5,143
79,930
73,026
Schuylkill Traction.. Septemb’r.
8,523
8,48
6* ,086
72,816
Sohuylkill Val. Trao Novemb’r.
4,602
55,318
Sci ant >n & Carbond’e Novemb’r.
3,547
Scranton & Pittston Novemb’r.
5,804
Scranton Railway__ Novemb’r. 33,234 30,201
329,492 320,756
2,344
Syracuse E’st-SideRy Novemo’r.
2,741
34.622
29,1*87
Syracuse Rao. Tr Ry Novemb’r. 38,765 31,032 39 ',145 385,054
Terre Haute El’o. Rv. Septemo'r. 14,259 13,705 1 11,790 120,341
Third avenue (N.Y.). Septemb’r.
1,935 425 2,000,857
Toronto Ry
Novemb’r. 88,608 ■’4,617 955,94b 8*3.781
Twin City Rap. Tran. Noveub’r. 169.073 161,34> 1,801,99--* 1.863,420
Union (N. Bedford) Novemb’r. 16,239 16.630
198,793 204,040
United Tract. (Pitts.) December. 127 d04 119,28*
United Tract. (Prov.j Deoember. 149,076 142,216 1,731,21b 1,723,450
Unit. Trac. (Reading) December. 14,1*-8 13,107 194,01*
189,4 >4
Wakefield & Stone ...N ove m b ’ r.! 3,937
3,*92
55,4 ¡3
53,178
Waterbury Tr otion.. December. 24,272 21,770
258,613 242 674
West Chicago 3t. Ry Wn. Jan. 6 63,638 62,80S
62,808
68,668
Wheeling Railway... Novemb’r. 14,436 12,781
153,119 153,016
Wilkesb. & W.v Valley Novemb’r. 42,236 41,247 1 447,054 461.962
Includes Baltimore Traotlon and City & Suburban for both years
$
6,883
4,517
6,845
7,721
ANNUAL REPORTS.
Annual Reports.—The folio wing is an index to all annual
reports of steam railroads, street railways and miscellaneous
companies which have been published siaie the last editions
of the I n v es t o r s ’ a n d S t r e e t R a i l w a y S u p p l e m e n t s .
This in lex does n o t include reports in to day’s C h r o n ic l e .
Full-face figures indicate Volume 66.
RULROADS AND MlSCKL. C O.’ S.
Volumes 65 and 66—
Page.
Akron & Chicago June..................... 973
American Cotton OH
975, 983
American Type F -unders................ 8*2
Atlantic & D anville............................ 7 9
Baltimore & Ohio ............ 953, 973, 978
Balt. & Ohio Southw................1020,1026
Bangor & Aroostook ....................... 974
Buffalo & Susquehanna..................... 7 9
Calgary & Edmonton........................... 1170
Canada S o u th ern ................................. j217
Central Ohio.......................................... 974
Central Pacific. .............................855, 87«
Chic. June. Rys. & U n. Stock Yds. 8 1
Chic. & North-*West Granaries,Ltd.1171
Chicago Peoria A St. Louis.............. 7 8
Chicago Terminal Transfer ........... * 5
Cleveland Akron & Columbus......... 117n
Columbus & Cincinnati M idland... v74
Detroit A. Mackinac
.
. ............1020
Florida Central A Peninsular...........1170
Great Northern............ ..904,921, 927
H ouston East & W est T exas......... 822
Houston & Texas Central.................. 8«6
lute national Packing C o ................ 1021
Iron Steamboat Co .......................... 1021
Kanawha A Michigan ......................1<>21
Kansas City Ft. Scott & Memphis. 821
Kansas City Memphis A Bir ......... 820
Kansas City Pittsburg & G u lf.........1065
Lake Shore & Michigan Southern.1217
Maine Central......................................... 821
Manhattan Ryv N. Y. C it y ............. 923
Mergantbaler Linotype Co.............. 867
Michigan C e n tra l................................ 1217
Michigan Peninsular Car.................. 868
Missouri Kansas & T exas................ 820
Newark Somerset & Straitsville... 974
Railroads and Mi «cel .Co’ s ( Oon. >
Volumes 65 and 66 —
Page .
New England Gas & C ok e ............ 1112
New Jersey & New York..................822
Norfolk A Southern...
866
North Eastern RR. (of S. Car.).... 1170
Penn. Heat, Light and P ow er......823
Petersburg RR
llll
Pills bury-WashbumFlour Müls Co. 1171Pittsburg A Western.....................1169 •
Richmond Fredksb. & Potomac .. 1061
Richmond & Petersburg.................l l l l
St. Paul Minn. & Man.................... 92A
San Antonio & Aransas Pass....... 921
Sandusky Mansfield & Newark ... 974
Seaboard & Roanoke...................... 821
South «'arolina A Georgia ...........1019
Southern California (Atch Sys.).. 869
Southern P acific......................847. 871
Southern Pacific of California.921. 931
Toledo & Ohio Central .................. 922
Vermont Valley & Sullivan C o.... 867
Weis bacb Commercial Co ...........1021
West Virginia & Pittsburg.......... 821
Wilmington & Weldon.................. 7 9
Street R ailw ays .
Brockton Street ...........................1022
Brooklyn Rapid Transit.................1218
Globe St. ( Fall River) ...................1022
Hartford Street Ry......................... 1069
Hart. Manches’r & Kockv’e Tram. 1069
Hartford & West Hartford ........ 1069
Lowell Lawrence a Havernili. ...1022
Lowell & Suburban........................ 1022
Lynn & Boston ....................
1171
Springfield (.Mass.) St. R y..............1022
West End St. Rv ........................... 1021
Worcester Consolidated St. R y....l022
Lehigh Talley Railroad.
( R e p o r t fo r the yea r ending N w . 3 0 ,1 8 9 7 .)
The pamphlet report has not come to hand, but will be
published ia the C h r o n ic l e next week. From the brief sum
mary in the daily press, the following facts are given:
President Alfred Walter says in substance :
G eneral R e m its .—The volume of business during the year
has not materially varied from that of the year which imme
diately preceded it. The movement of anthracite coal was
somewhat less than in 1896, owiag to a smaller demand for
consumption in the conntry at large, which reduced the out
put from all regions about 2,503,0 0 tons. The abundant
crops of our Western States have caused a movement over
the whole length of our main line, from which the company
derived a liberal revenue during the last three months of the
fiscal year. This movement has slackened somewhat 9inee
the close of Lake navigation, but indications are not lacking
that it will be renewed so soon as markets are readjusted to
the higher rates of all-rail transportation.^
Change in M eth od o f Charging E xp en ses .—All improve
ments daring the year to the railroad property other than
distinctly new construction of subsidiary lines have been
charged to operating expenses. All colliery improvements
also during the year have been similarly charged. Interest
on bonds of the coal company is included in the fixed charges
of the railroad company, the guarantor.
R eadjustm ent o f A ccoun ts. -Your board has re-valued the
personal property of your company other than such perma
nent investments as represent, thro >gh ownership of securi
ties, an integral part of the transportation system of your
company or its investment in securities of your c >al compa
nies. The book value of coal, freight and -ervice cars had
been impaired to the extent of $5,866, i82, and of engines and
i;o
THE CHRONICLE.
passenger cars to the extent of $518,388. The investments in
properties not essentially a part of yoar system show a depre
ciation of $132,907. The interest that had accrued on the out
standing obligations of the railroad company and the coal
company prior to Dec. 1, 1896, it was decided should also be
charged to profit and loss.
By these and other adjustments the credit balance which
amounted to $7,534,277 on Nov. 30, 1896, has been reduced to
$377,478 on Nov. 30, 1897.
E a rn in g s, E tc .—The earnings, etc., for 1897 compare as
follows, the interest on the Lehigh Coal bonds heretofore
charged to profit and loss being now included in the state
ment for the years 1894-5 to 1896-7 inclusive.
1896-7.
$ •
Gross earnings........... 19,559,166
Operating expenses.. 14,413,330
1895-6.
$
19,514,660
14,583,658
1894-5.
$
18,561,454
14,128,453
1893-4.
$
17,330,594
13,320,529
Net earnings........... 5,145,836
Other income.............. 1,036,288
4,931,002
676,159
4,536,001
990,915
4,009,765
1,036,053
6,182,124
5,607,161
360,000 )
State taxes.................
Bal. of interest acct..
25,117 i
673,366
Loss on Morris Canal,
239,935 1
etc..............................
Int. on funded debt
and fixed rentals of
leased lines............. 4,744,205
4,484,033
Interest on Lehigh
710,204
coal bonds................
590,650
5,526,916
5,045,818
589,694
645,008
4,294.380
4,273.740
rvoL. i xvi.
Potomac Valley Bail road Company.
('R ep ort f o r the yea r ending A u g . 31, 1 8 9 7 .)
This company has listed on the Baltimore Stock Exchange
its $1,100,000 first mortgage bonds, due July l. 1936, interest
payable semi-annually in gold. As a sinking fund the com
pany is required to pay annually an amount equal to seventenths of one per cent of the amount of the bonds issued to
the Mercantile Trust & Deposit Co. of Baltimore, the trus
tee of the mortgage. This sinking fund amounts at the pres
ent time to $32.883.
The earnings of the company have been as follows :
,r
, „
Oross earnings.
$155,237
Year ended August 3 1 ,1 8 9 6 ...................
Year ended August 3 1 ,1 8 9 7 ...................
144,810
Net earnings.
$94,392
7 6 ,3 0 6
BALANCE SHEET AUG. 3 1 , 1 8 9 7 .
Assets—
L iabilities—
$1,915 Capital stock . 1___,.___ $500,000
Gash..................................
Construction..... ............ 1,574,825 Potomac Valley of VV.Va.
1,150
Western Maryland RR.
12,297 Balt. & H. Ry., E. 6xt..
175,000
M’rc’ntileTr. &Dep. Co.
313 Bonds............................... 1,032,000
Sin king fund............ .
32,883 Collateral loans............
38,100
Co.’s stock....... ..............
1,150 Real estate loans...........
10,671
B. H. Ry. ext. stock___
175,000 Horace Keesey..............
8,580
Sinking fund...................
32,883
Total...........................$1,798,383
—V. 52, p. 121.
Total.
..$1,798,384
Choctaw Oklahoma & Gulf Railroad Company.
596,625
Total charges............ 0,079,461
5,748,049 5,480,699
4,918,748
Balance........................sur.102,663 def.140,888 sur.46,217 sur.127,070
( R e p o r t fo r the yea r ending Oct. 31, 1 8 97 .)
President Francis I. G-owen says in p a it:
L E H IG H V A L L E Y R A I L R O A D B A L A N C E S H E E T N O V E M B E R 30.
G row th o f Traffic.— The growth of the company’s business,
as a whole, during the past year cannot but be regarded as
1897.
1896.
1895.
Assets—
$
$
$
gratifying, especially in view of the conditions which ex
Cost of road........................................18 ,639,292 18,824,485 18,333,903
Equipment.......................................... 19 ,018,419 23,970,673 21,404,929 isted for the larger part of the year. The increased pros
Real estate.......................................... 1 805,020
2,023,813
3,112,559 per itythat will follow the large crops of the past season and
Securities owned—
the largely-increased acreage put under cultivation this year,
Mortgages receivable...................
733,304
755,917
815,738 ought to lead to still better results during the coming year, i
Stocks of RR. and water lines
The agricultural development of that part of Oklahoma
inc’d in Lehigh Val. system___ 18 89,702 17,227,422 17 ,424.285
Stocks of allied coal companies. 1 262,748
1,273,809
1 ,273,979 Territory through which your line extends has been very
Stocks of other companies..........
863,457
401,115 great, especially in cotton. During the first cotton season
707,615
Bonds of RR. and water lines
inc’d in Lehigh Val. system ... 3 ,398,926
2,927,500 following the completion of the road about 5,000 bales of
2,933,301
Bonds of Lehigh Val. Coal Co... 6 400.000
1,400,000
L , 675,000 cotton were shipped over the road ; next season about 17,000
Bonds of other coal companies. 1 022,183
201,000 bales, while the indications are that during the season just
1,023,222
Bonds of other companies...........
179,002
89,145 closing the shipments will aggregate nearly 45,000 bales.
236,745
Car trust certs. Leh.Val.Ter.Ry.
900.000
1 , 000,000
L , 000,000
The following table gives the earnings of the company for
Advances to RR. and water lines
inc’d in Lehigh Val. system....... 5 ,481,329
5,767,400
4 ,433,411 the past two years on various leading classes of freight:
Material and supplies on hand...
Current assets—
Cash and cash assets....................
Brown, Shipley & Co., London..
Due by station agents.................
Duebyindiv, and companies...
Bills receivable and call loans..
Advances to Leh. Val. Coal C o..
Advances to other coal cos.........
Advances to other companies...
Contingent assets—
Phil. & Read. RR lessees............
748,645
1,196,645
1 277,818
4, 221,273
1 656,221
..............................
1, 032,100
686,776
865,354
731,448
541,471
453,238
T,079.915
5,166,890
232,616
250,724
656,311
619,799
3,874 804
2,661,591
740,313
544,244
361,067
3,307,038
275,584
510,226
3,,218,136
3,066,067
3,210,991
Total...............................................90 ,489,205 91,117,134 89,711,317
L iabilities—
Capital stock...................................... 40,,441,100 40,441,100 <0,441,100
Funded debt and car trusts......... 40J334.000 35,560,000 34,173,000
Depreciation of equipment........... 1, 124,242
Current liabilities—
Mortgages on real estate............
381,852
347,852
347,574
Bonds drawn uncalled for..........
3,000
5,000
4,000
Dividends uncalled for ............
5,180
4,067
5,741
Bond int. due and uncalled for.
44,789
30,972
26,353
Accrued bond interest & rentals ,539,774
840,078
895,440
Bills payable and misceil. acots. ,428,627
2,625,239
2,587,207
Unadjusted tax accounts............
426,843
419,775
408,971
Lehigh Valley Terminal Ry. Co. ,525,877
1,456,270
1,459,807
Insurance fund, “ Bee Line” .......
153.000
142,000
118,000
Phil. & Reading RR. Go., lessees,
construction. J............ ................... 1,104,^87
1,104,488
949,743
Phil. & Reading RR. Co., lessees,
equipment.......................................
452,042
452,042
452,042
Unadjusted lease accounts............
146,912
153,975
169,625
Profit and loss to balance..............
377,478
7,534,277
7,672,713
Total................. . . . . . . . .................90,489,205
91,117,134
L E H IG H V A L L E Y C O A L C O M P A N Y B A L A N C E
A aftfits——
1897.
^
Coal lands........................................... 4,919,631
Collierj improvements................... 3,974,864
Coal storage properties, etc...........
551,091
Stocks of allied companies..............
693,568 )
Interest in allied companies..........
10,000 >
Current Assets—
Advanoed royalties........ ........... 3,912,680
Royalties due by lessees..............
37,557
Cash..................................................
505,645
Bills and morts. receivable.........
511,185
Due for coal sold,
.............,'3 )24 0 ,36 0
Due by individ’ls.ande'pmpanies
107,455
Advance insuranoifojpaiiums...
21,375
Trustees o f' sinkm'BKlja___ ___
182
Stock of coal on b an JK xii___2,311,142
Material and supplieWkiaiand.^:.
73,634
89,711,317
SH E E T N O V. 30.
1896.
1895.
^
4,739,928
5,532,924
567,470
KaQ
/od,ot>s
4 ,8 ^ ,5 8 5
4,998,551
293,564
„„„
693,568
3,502,953 3,203,311
39,524
59,061
363,584
820,067
601,317
631,561
2,168,259 2,245,667
256,676
240,677
........................................
l,9 3 4 v
i,934
2,690,285 1,363,570
........................................
Total.............
),870,377 21,168,422 19,407,117
L iabilities — /
Capital stock.. /.______________
¡p6.5O,OO0
^S50,C
650.000
650,000
First mort. 5 p. o. gold l o â i r /;v .. 1 u to 7,00o 11 ,782,000 11,800,0 0
Five per cent gold bond........ ftl» h 0 0 0
Snow Shoe boqd s............................
590,000
500.000
5 ôô;ôôô
Depreciation of coal lands..............
3»853
Due Lehigh Valley RR. C o ....'..... 1,97S§915
,166,890
3,304,493
Sundry credit accounts, inolud.
\
due operatives for November... 1,480,010
,140,980
1,133,248
Profit and loss to balance................
105,599^
,928,552
2,019,376
Total___..
-V. 66, p. 82.
,0,£170,377 21,168,422
' \
H I? ,■
19,407,117
Tear.
Coal.
1897............... $217,491
1896............... 163,984
Coal M in es. —The
Grain.
$28,137
14,453
Cotton.
$44,911
17,031
L um ber.
$44,542
45 422
L ivestock .
$17,369
10,696
mines of the company have been main
tained in good condition. The output of the mines increased
22.258 tons over that of last year.
While the cost of mining
was somewhat reduced, the average price realized for the
coal decreased by about the same amount per ton, so that
the profit of the mining department did not materially vary
from that of the previous year. All expenditures upon the
mines, of whatever character, have been charged to expenses.
During the past year the Board consented to the assign
ment of certain of the coal leases held by the company to in
dividuals for the purpose of enabling mines to be opened
thereon, the assignments securing to tbe company the car
riage of the output of such mines. Unfortunately the de
velopment of these individual mines has not been as rapid as
was hoped for, and in addition the demand this season is so
largely in excess of that of last season that at the present
time, and for two months past, the company has been wholly
unable to meet the market demands for coal. It is evident,
therefore, the company must either itself make further de
velopments of its coal territory or must procure this to be
done by others under arrangements similar to those already
mentioned.
B o n d s —N o F lo a tin g D eb t. —The bonds outstanding are :
T<yi
T*68t
$ ' ,000,000 prior lien 6 per cent bonds........................................... $60,000
2,995,000 general mortgage 5 per cent bonds.............................149,750
In addition to the above there are still outstanding $4,974
income mortgage 5 per cent bonds which have not yet been
exchanged for preferred stock of the company under the plan
of 1896. All the car trust obligations have been extinguished
and the company is entirely free from floating debt.
E q u ip m en t. —The equipment is as follows: 15 locomotives,
10 cars in passenger service, 60 box cars, 250 stock cars, 25
flat cars, 1,000 coal cars, 8 miscellaneous. All of the equip
ment is furnished with automatic couplers, and the propor
tion required by the Act of Congress with power brakes.
P h ysica l C o n d ition . —The property has been maintained in
excellent order. During the past year upwards of 73,600 new
ties were put in the track on the old part of the line, and
1,556 feet of trestling on that part of the line were filled in.
On the new part of the line 11^ miles of track were ballasted
with rock, one half the cost of which was charged to ex
penses, the remaining half being charged to betterments.
New work done and property acquired to the amount of
$36,253 were provided for out of surplus earnings.
L a n d Conditions in In d ia n T erritory. —The land conditions
in the Indian Territory remain unchanged. The Govern
ment of the United States has been engaged for the past few
years in endeavoring to effect a change in these conditions,
through arrangement with the five tribes or Nations occupy
ing the Territory, but nothing as yet has been accomplished.
Agreements have been reached with certain of these tribes,
tat it is doubtful whether these will.be ratified by Congress,
JANUARY
131
THIS CHRONICLE.
15, 185 8.]
as it is more than probable that whatever action Congre.-s
may take in the matter will look to a comprehensive scheme
for the whole Territory. Any agricultural development of
the country embraced in the Indian Territory seems very un
likely under existing conditions, while it is certain that very
great development would follow any change which would
permit non-citizens of these tribes to acquire land either by
purchase or lease.
E a rn in g s.— The report contains no balance sheet, but gives
the following statement of earnings:
1897.
Milfs operated.......................................... ........
_ 220
s
.
$128,828
Passenger earnings..............................................
538,749
Freight earnings...................................................
19,295
Mail, express and telegraph.....................
26,464
Car mileage...................................................
6,280
Miscellaneous......... .....................................
1896.
220
$120,166
364.219
17,586
38,329
2,740
Total............................. ...............- ..................... $719,616
.
511,728
Earnings mining department...................
$543,041
536,017
,$1,23’ ,344
Earnings both departments................................$1,231,344
838,040
Operating expenses, both departments.
$1,079,057
850,450
benePts as accrued to the other elevated roads, our receipts were ma
terially increased.
Connection, was made with the Suburban Electrio during the year.
Earnings, expenses and charges have been as follows :
1897.
Tear ending Dec 31—
Gross earnings............................... $579,961
Operating expenses....... .............. 329,124
1896.
$573,669
339,383
1895.
$517,305
290,006
Net revenue.................................... $250,837
Taxes........................................... . , *18.612
Interest on bonds ....................... 227,605
29,874
Interest on miscellaneous.. . . . . .
Loop rental............................... . . 15,707
$234,286
$12,278
215,125
34,556
$227,298
$17,000
230,454
17,993
Total............................................$291,798
Deficit for year................ ............. .*$40,961
$261,959
$27,673
$265,447
$38,149
N
ote
.— T h e r e w a s a ls o s p e n t f o r
e x tr a o r d in a r y im p r o v e m e n ts
m a k i n g t o t a l d e f i c i t f o r y e w $72,841.— V . 65, p . 924.
$31,880,
Hestonville Mantua & Fairmount (Street) Railway.
(R e p o r t f o r yea r ending Dee. 3 1 ,1 8 9 7 .J
President Blum said in p art:
The bicycle has proven to be a successful competitor. It
$228,607
$393,304
Net earnings......................................................— . $393,304
229,807 operates without franchise of track and pays no taxes. On
Interest and t a x e s . . . . . . . ................................... .
225,974
the contrary, paths are constructed and the streets through
def. $1,200 the city have undergone such favorable change in their im
. $167,330
P' Surplus.....................................
—Y. 64, p. 842.
proved pavem ent at the expense of the several electric lines,
which change the public is now enjoying and reaping its
Rntland Railroad Company.
benefit in the li beral and general use of the bicycle, and it is
('Report, fo r the yea r ending Ju n e 30, 1897. J
an open fact known to all street railway managers that the
universal use of it has sharply cut into their receipts.”
President Percival W. Clement says in part:
Results have been as follows :
The first year of independent operation was one of very
1897.
1896.
general depression throughout the country, which has been Passengers carried.......................
10,733,367
10,223,353
strongly reflected in railroad earnings. The Rutland road
$
$
549,896
has suffered very greatly, but to what extent is not known, Receipts from all sources.................................... 514,734
309,489
)
Operating
expenses..............................................
as we have no traffic reports for previous years with which
325,227
31,172 £
to make comparison. A number of its wooden bridges had Licenses and taxes...............................................
been condemned; its rolling stock was inadequate to handle
2S 4,66 9
Net receipts......................................................
174,073
89,019
90,801
the bnsiness of the road. It had no proper terminal facilities Less fixed charges.................................................
at Burlington, Rutland or Bellows Falls. To make the Balance applicable to dividends.......................
135,650
83,272
necessary changes incident to|the]operation of the road and to Dividends in July on preferred and common
65,169
65,170
stock........... ......................... .......................... .
restore the rolling stock to a better state of efficiency has
involved a considerable outlay that is extraordinary.
18,102
70,481
Balance........
For new steel bridges and other improvements there has
V. 65, p. 1023.
been expended during the year $91,952, as follows:
The H. B Claflin Company.
Three new steel bridges, Nos. 27, 37, 4 t, $36,943; three new steel
bridges, Nos. 9 2 ,1 0 3 ,1 1 5 (in part), $14,158; six and one half miles of
75-lb. steel rails, $21,933; sixty-six pairs new steel tired wheels
$5,307; steel turn-table at Burlington, $2,345; station at Summit
$550; remodeling the yards at Burlington and Bellows Falls, neces
sary to independent operation, and other items, amounting to $10,716
Of this amount there has been charged against the balance
of the $500,000 set aside by the terms of the consolid ted
mortgage, $44,832, and to construction on account of rails,
turn-table, etc., $8,419. The balance of expenditures of this
character has been charged to operating expenses, $38,701,
and in addition old accounts and claims amounting to $11,475
have been paid and charged to operating expense. There are
no more of these old claims known to be outstanding:
S ta tistics.— 'The report gives the following:
Total train miles, 876,656; average gross earuiugs per mile of road,
$5,246; do. per train mile, $1 1355,p0; operating expenses per train
mile, 6972,00 cents; average net earnings per train mile, 4 3 8 3 , 00 cents;
number of local passengers carried one mile, 10,494,083; number of
foreign passengers do., 2,220.100; average rate per mile from passen
gers, 230,0o cents; total tons freight originating on this road carried
one mile, *,593,343; do. originating on other roads carried one mile,
17,218,973; average rate per ton per mile, 146J00 cents.
The earnings, etc., were :
E A R N IN G S , E X P E N S E S , E T C ., F O R T H E Y E A R E N D IN G J U N E 30, 1897.
Freight earnings...............$374,179 Other income—Rents....... $17,053
In erest and dividends. 14,794
Passengers.......................... 297,857
Mails and express............................. 41,121
Net income...... ,..$305,668
Other souroes.....................
357
Charges—T ax es..... $12,589
Rent of Addison R R .. . .
15,000
Gross earnings........... $713,514
Interest....... ................... 188,921
Maint. of way & struct’s. $95,164
42,391
Dividends.............
Maintenance of equip’t .. 57,461
Conductingtransporta’n. 259,604
Total charges............. $258,901
General expenses............
27,464
Su rp lu s..................... $46,767
Operat. exp. (61-62% )..$439,693
Net earnings.................... $273,821
B A L A N C E S H E E T J U L Y 1, 1897.
AqSets
Liabilities—
Construction................ $7,586,674 Common stock............. $2,480,600
Equipment...................
1,999,753 Preferred stock........... 4,239,100
134,460 First mortgage............. 1,464,100
Real estate...................
Stocks and bonds.......
410,382 Second mortgage......... 1,430,900
605,000
Supplies........................
45,816 Consolidated mort___
20,000
Cent.Vermont RR. Co.
40,817 Notes payable..............
11,248
Accounts receivable..
60,672 Coupons........................ .
3,018
Profit and loss............ .
25,239 Unpaid dividends.......
Accounts payable.......
39,486
Cash on hand and in
25,345
banks.........."........ .
14,984 Pay-roll account June.
Total........ . ............. $10,318,797
V. 64, p. 85.
Total......................$ 1 0,3 1 8,7 9 7
Lake Street Elevated RR. (Chicago.)
(R e p o r t f o r yea r ending Dec. 31, 1897.J
President Louderback says in part:
Considering the fact that for the first six months of the year we had
business depression in all parts of the city, and the country at large,
our results may be considered satisfactory.
In the deficit of $40,962 there is included the 40 per cent paid by
order of court on 175 non-assenting bonds, amounting to $8,750;
which, if deducted, would leave the aotual deficit $ 3 2 ,2 i2.
It is the policy of the company to charge into expense acoount every
thing which can properly be placed there.
On Oo*. 1 the loop was completed and opened for traffic, and while
these additional terminal facilities did not enable us to derive as great
( R e p o r t f o r the h a lf-yea r ending Dec. 31, 1897.J
The following, compiled for the C h r o n ic l e , compares the
results of the half-year’s business in four seasons:
IN C O M E A C C O U N T H A L F -Y E A R E N D IN G D E C E M B E R
1897.
31.
1894.
1896.
1895.
Net earnings, after taxes,
salaries and e xp en ses....301,338
Int. on pref. stocks *3 year..142,125
103,403
142,126
35 9,273
14 2,126
Remainder for com. stock.. 159,213
Dividends on com. stock___ 114,873
df.38,723
114,873
217,147
114,873
103,309
114,873
Surp. in autumn for co m ... 44,340 df.153,596
Reserve for com. brought
forward................................. 76,016
277,006
102,274
df.11,564
273,615
$
Surp. reserve for com. stock. 120,356
$
123,410
$
375,889
245,435
142,126
287,480
275,916
The following table shows the results for the full years
1894 to 1897 inclusive, the “ profit” being given after de
ducting dividends ($284,252) on the preferred stock :
1897.
1895.
1894.
329,718
229,746
204,061
229,746
Balance................. ...........df.3, 055 df.252,480 sur.99,972
df.25,685
Profit for year over interest
on pref. stocks....................226, 691
Dividends on common........ 2 29 ,7 46
1896,
df.22,734
229,746
Dividends on common stock from organization to October,
1892, 8 per cent per annum ; from October, 1892, to July,
1893, 9 per cent; from July, 1893, to date, 6 per cent per
annum.
31, 1897.
Liabilities.
Capital................. .......... $9,000,000
Cash............... "..........$1,220,531
Open accounts payable. 6,577,692
Dividends, account of
autumn business___
152,186 Foreign exchange and
129,493
loan account
Bills receivable............ 2,044,450
76,016
Open aco’ts receivable 4,410,798 Surplus reserve..............
301,338
Profits
autumn,
1897...
Merchandise.................
5,475,573
Store property.............. 2,739,181
S t a b le ....,,..................
27,197
Horses, trucks, &o . . .
14,622
B A L A N C E SH E E T D E C E M B E R
4 SQp/a
Total........................$16,084,541
—V. 65, p. 110.
Total........................ $16,084,541
John B. Stetson Company.
( R e p o r t fo r the yea r ending N o v. 3 0 ,1 8 9 7 .J
President John B. Stetson says : ... j£§
A dividend of 8 per cent has been earned-on the preferred stock dur
ing the year, and nearly 8 per cent on the common stock, which is
certainly an excellent showing when; thq trade situation is taken into
account. The business conditions existing.duriner the first half of the
year were not dissimilar to those described as characteristic of 1 89 6 ;
yet the hope and confidence expressed iffour last report, that mercan
tile assurance might be resumed, has been partly realized. The im
provement, however, was" ± o t felt until rather late in the year. Had
the change occurred earlier the annual volume of business would u n -~
doubtedly have been larger.
*5»
We have entered into another business year with somewhat more
promising expectations than at this period of 1897. The improved
agricultural conditions throughout the country and the progressive
settlement of political and financial questions has created a more gen
eral demand, which has not only increased but raised the standara of
wants. Our customers are still buying conservatively, but with less
hesitancy than at this time last year.
THE CHRONJCLE,
132
£Vot,. LXVT,
Messrs. Barrow, Wade, Guthrie & Co., the public account
Albany Railway (Street).— Q uarterly, —Earnings for the
ants, make the report of the year’s operations as below, and quarter and the six months ending December 31 have been
say they believe the company’s balance sheet to be correct reported as follows:
and conservatively valued.
3 mox. ending
Gross
Net
Other
Interest, Balance.
1897.
Sales for year.......................................................... $1,288,152
Operating expenses, including repairs, dis
counts, interest on loans, baa debts written
off ($18,941 in 1897), etc.................................. 1,066,815
1896.
$1,195,287
$221,337
83,425
$190,975
60,450
Total available for dividends .................... $304.762
$304,762
120,000
Dividend (8 per cent) on preferred........
(5%) 60,000
$251,425
120,000
(4%) 48,000
Balance brought forward........................
1,004,312
Dec. 31.
earnings.
1897.....................$157,987
1896
......... 137,357
6 mos.—
.......... $324,251
1897
1896................... 287,007
—Y. 65, p. 1022.
earnings.
$55,262
52,942
incom e,
#09
491
taxes. <tc.
$24,963
18,704
su -p lu s’
$31,108
34 729
$124,655
109,869
$1,410
1,024
$49,128
37,393
$76,937
73,500
American Fisheries Co.—In corp ora ted . —This company
was incorporated at Trenton, Jan. 8, for the purpose men
tioned last week, with capital stock of $19,000,00'), of which
$2,000,000 is preferred stock and $8,000,000 common. The
$83,425 corporators are John F. Kehoe, of Newark, N. J.. and Ray
Balance carried to next year........................ $124,762
—Y . 64, p. 287.
mond S. White andClarence F. Leggett, of New York City.
Among the sixteen menhaden fishing concerns absorbed, with
Swift & Company.
their factories for making fish oil and guano, are the follow
("Report f o r the yea r en din g D ec. 3 1 ,1 8 9 7 .)
ing : the Round Pond Oil & Guano Co., of Maine ; Hawkins
President G. F. Swift at the annual meeting said : “ Busi Bros. & Co., of Maine and Long Island ; Church, Hathaway
ness is rapidly beginning to feel the influences of prosperity.” & Co., of Maine and Rhode Island ; D. T. Church, of Rhode
The following statistics are furnished :
Island ; Luce Bros., of Lewes, Del., and James Lennen & Co.,
of Lewes, Del. The New York “ Tribune” says :
Total distributive
1897.
1896.
1895.
sales..................... $121,598,670 (abt.)$104,000,000 (abt.)$100,000,000
Shiptn’ ts, car-loads
97.525
77,459
72,847
Dividends, 6 p c ..
$826,038
$826,038
about $826,038
Tbe value of tbe product of the companies In the combination is from
$1,000,000 to $2,000,000 a year, about equally div ded between oil and
fertilizer. The company will control the menha-ien oil trade. It issaid that the Standard Oil Co. is interested in the new company, a sStandard Oil refuse now thrown away, mixed with menhaden oil is
reputed to make a fine illuminating oil,.
The total capital stock is $15,000,000, of which $1,232,700 is
in the treasury. There are $2,500,000 first mortgage 6s out
standing, and the company ’s total liabilities are reported as
The general office will be at 153 Maiden Lane.—V. 66, p. 80.
$8,5* 0,000 against total quick assets of $10,340,846.
The following shows the extent and nature of the comAmerican Sugar Reflnin?.—A n n u a l M eetin g.— AX the an
any’s business during the past three years :
nual meeting on Wednesday no financial statement was submitted, but President H. O. Havemeyer made the following
L IV E ST O C K S L A U G H T E R E D .
remarks : “ The tariff changes during the year have required
Tear—
Cattle.
Sheep.
Hogs.
Total.
1897..................1 ,4 2 1 .3 8 1
2,458,287
3,256,551
7,136,219 unusual attention to the conduct of the business. The ex
2,105,210
1,815,614
5,063,908 isting tariff requires a large additional capital for the con
1896.................... 1,143,084
1895.....................1,076,579
1,880,244
1,652,173
4,608,996
duct of the business. It is necessary that the company shall
m a n u f a c t u r e d p r o d u c t ( i n p o u n d s — 00,000s o m i t t e d ) .
keep on hand a large stock, both of raw and of refined. This
F erOther t Tat- But- represents the duty added to the cost. A sufficient time has
L ard. Wool. *Oil. Glue. Hides, tiliser.
oi>.
low. terine.
1 897.. 16 ,7
5,3
3,5
5.7
78,9
66,9
53,7
24,2
5,5 not yet elapsed to determine exactly the effect to be produced
1 8 9 6 .. 129,1
3,8
3,3
5,1
73,9
63,9
48,4
23,4
7,5 upon the business by the tariff changes. Dividends have
1 8 9 5 .. 110,8
4,9
3,1
4,9
70,1
60,7
41,6
16,9
6,4 been declared at the usual rate. Under the authority given
to the board at the last annual meeting, which in that r gard
* Neatsfoot.
t Including grease.
amended the by-laws, the directors have by fixing ihe divi
During the year 1897 the company employed 10,942 bands, dend rate prescribed that ihe residue of earnings shall remain
exclusive of those engaged at its branch distributive houses, as working capital. They hope that this action will be con
as follows : At Chicago. 5,433 ; Kansas City, 2,215 ; South firmed by the stockholders.”—V. 65, p. )069.
Omaha, 1,425 ; East st. Louis, 1,095 ; St. Joseph, 185 ; South
Baltimore & Ohio RR .— M a jo r ity o f Consols D eposited —
St. Paul, 589.—Y. 65, p. 730.
T im e f o r D eposits E x ten d ed Till Feb. 1 , —J. P. Morgan & Co.,
Brown Brothers & Co. and Baring, Magoun & Co. announce
that more than a majority of the consol 5s. due 1988, have
been deposited under the terms of the bo* dhold*-rs’ agree
GENERAL INVESTMENT NEWS.
ment, referred to in their announcement of Nov. 1 last. A t
the request of holders of said bonds the time for additional
Reorganizations, Etc.— L a test D a ta as to D efa u lts, R e o r - deposits has «been extended to Feb. 1. The hankers state that
g a n iza 'io n P la n s, P a ym en t o f Overdue C ou pon s, E tc .—All they cannot undertake to represent any bonds not deposited
facts of this nature appearing since the publication of the last on or before that date.—V. 66, p. 38.
issues of the I n v e s t o r s ’ and the S t r e e t R a i l w a y S u p p l e
Beet Sugar in the United States.— H is to r y an d P re se n t
m e n t s may be readily found by means of the folio wing index.
This index does n ot include matter in to-day’s C h r o n ic l e . S ta tu s o f B u sin ess .—The “ Evening Post” published last
Saturday a long article by Wallace P. Willett, giving a his
Full-face figures indicate Volume 66.
F o r list including va rio u s sm aller com panies see C h r o n ic l e tory of the beet-sugar industry in the United States since itsfirst inception in 1838. Twelve States, he says, have tried to
o f D ecem ber 25.
produce beet sugar, but only two or three have succeeded in
t R a il r o a d s a n d M is c e l . Co . ’s .
R a il r o a d s & M is c e l . Co ’ s (Con.) making the business a financial success. He thinks, how
Volumes 65 and 66—
Page.
Volumes 65 and 66—
Page.
ever, that with sufficient capital, with the farmers willing
Akron & Chicago Ju ne.... de'ault. 828 Morristown & Cumber. Gap.no sale. 8 2
Atlantic & Pac. Cent. Div. sale.977, 1222 Newark Somerset & Straitsv,..de/. 823 to take proper care in raising the beets, and with machinery
Baltimore Beit.de/uult.- 23; d post'. 868 N.Y. & East Riv. Gas.consol.status. 8 2 adapted to taking the 12 to 15 per cent sugar out of theBalto. & Ohio. defavlts.>-2S, 1023, 1218 Norfolk A Ocean View . ....sale. 8 2
do consol com deposits & earns.868,1218 Ogdensb. &L. (’hamp.mt. payment.ll7i beets that is in them, that under these conditions there is no
Beaver Dam Water W orks... reore. 8*0 Oregon Improvement___ S th in s t a l. 8 3
reason why, with the protection of the sugar tariff, the
Bennington & Rutland . refund. 975
do
do sold te>reorQ. com.925, 977
Bloomsburg A Sullivan, .idan Jails. 8 0
do
new Co. - M . payml ..1072 industry should not thrive. “ Large factories with most
Brooklyn A Brighton Beach.Jorecl. 8 0 Peo.Dec.&E.lgt assess.824; dep.977,1220 improved machinery are only to be considered now. Such
Central Ohio, .separate itevr. asked. 3 8
do
do
cowp.1174,122"
Central Pac.. .Brethertm’s circular. 869 Sand. Mans. & Newark., .sep. recwr.V 72 factories, with a plant costing $300,000, and working capital
do stockh-lde s notice.1113; reor -.li72
do committee. 11*6; c upon. 1116,1218 sufficient to pay cash for one season’s crop of btets at the
Central Vermont, .den si s, etc.923, 976 St. L. A San Fran... .Branch Lines. 925
Cent. Washington.eah.1113; stinus.1172 Sioux City A Northern ______ .c o u p . 3 9 rate of 350 to 400 tons per day, for lOo working days, are
Chicago & North Western.newS}48. ¡0.0 Toledo St. L. A K. C__ foreclo 826,1116 what is required for profitable outcome.
do abstract o' new mtce.l1.2,1175 Un. Pac..sale.826,870; sa le c o n fir m . 926
Chic. Peor. & St, L .coups, deferred. 8 1
“ Fifty-thousand tons of beet sugar are now produced in
do A d v i s ’y com.ll>26; n e w officers. 3 9
Chic. R. i. A Pac.re und.plan 976,1070
do
. 1st 6s t o be p a id J a n . 20.1072
Chic. & Soutbeas.r»crr. di.-char. ed. 8 1
do
.. .co lla tera l t r u s C s c o u p . 3 9 the United States to meet a national consumption of 2,000,000
Chic. Term.Trai sfer.new securities.1172
tons, and perhaps 4,( 00,000 tons fifteen years from now.
do
e q u ip b o n d a n d i n t . p a y m . 8 4
Chicago & West Michigan .couponWZ3
do
.sa le c o lla t. M o r g a n n o es.1072
There is, therefore, no fear of over-production.
Cincinnati N. <•. A Tex. Pac.statug.1173
do
K a n s a s P a c ific sa le . 1174, 1222
Colorado Midl’d...u»sesg t. no-ice. 1071 United States Car........................sa le. 1174
“ The following is a list of the beet-sugar factories now in
do
new secur. in Jau.1118 Western Union Beef............... reorg. 8 4
Columbus A Cin. Mid .coup. 824,1218 W heeling A L . S n e . .p r e l i m , a ssess. 826 active operation in the United States.
Columbus & Hock. C. & I. interest. 8 1
Columbus H. V.& i ol reoru. plan 976
Delaware River A Lancaster..sold. 8 1
Duluth Gas A Water. ...
sale. 38*
East Broad Top ...... reported sale. 8 1
Equitable Gas. N.Y...c<msol. status. 8 2
Excelsior Springs.
..............sold. 81
Herring Hall-M. recerg.1220; reorg. 3 8
Hitchcock A Co............■>torg. plan. 8 2
Hutchinson & Southern.......... sal«. 8 2
K. C. Watkins A G ulf... com. foe eel 1220
Kentucky A Indiana Bridge C‘>up. 9~6
Little Rock A Memphis__ . sole. 1115
Lou.Ev.&St.L.con.pr./p.i)Ian.lo24,11 3
do
do
foreclosure .1220
Manhattan Alma & B
...... sdie. 8 0
Madison Square Garden.. interest. 8 2
Mem. A Charleston.......mod. plan. 3 9
Wisconsin Central.. i m p v t . bds. d e f. 879
do
do
reorg. status.1027 ; 8 4
do
do
f o r e e l . decree. 3 9
Street R ailw ays ,
Boston Kiev............ W e s t E n d lease. 1222
Brooklyn Cable R R .................. reorg . 8 »
Cincinnati ncllnc Plane.......... so le . 81
Dallas City St...............................sold.1173
Englewood A Chicago Elec., .reorg. 81
Hannibal (M o .)S '.R y ............ so ld . 3>
Lincoln (Neb.)St.RyM/id.l220;re</ry. 8*2
Madison (W ls.) City R y ............soid.1071
Nassau Electric ( B’klyn) .r e a d ju s t. 3 »
N. J. Electric (Paterson). .receiver.1174
Rockaway Village R R .............. sale. 8 3
Terre H aute Elec. ..r e e v r s h ip . case.1025
do
d e fa u lt. 8 »
C apacity?
p e r day,
In active operation—
tons beets.
Alameda Sugar Co.. Alvarado, Cal.....................................................
500
Western Beet Sugar Co., Watsonville, Cal.......................i ............... 1,000
Chino Valley Beet Sugar Co., Chino, < a l . . . . ................................... 1,000
Oxnaid Beet Sugar Co., Grand Island, Neb......................................
350
Norfolk Beet'Sugar Co., Norfolk, Neb..............................................
350
Utah Beet Sugar Co., Lehl, Utah.........................................................
350
Pecos Valley Beet Sugar Co., Eddy, N. M.........................................
200
First N. Y. Beet Sugar Co., Rome, N. Y .............................................
200Los Alamitos Sugar Co., Los Alamitos, Cal......................................
*350
tWisconsin Beet Sugar Co., Meuomenee Falls, Wis.......................
200
New fa ctories building—
Spreckles Sugar Co., Salinas, Cal...................... — ......................... 3,000California Beet Sugar & Beilning Co., Crockett. Cab...................
Factoi y by Oxnard Construction Co., Hueneme, Cal................... 1,000
Factory at Ogden, Utah........................................ ...............................
500Factory at Binghamton, N. Y ..................... ........................................
400
-
Akron Street Ry. & Illuminating .— R eceivers A p p o in ted .
—At Cleveland, Ohio, on Thursday, Judge Ricks, in the
United States Distiict Court at Cleveland, appointed George
* Increasing to 700 tons, t Being reorganized.
W . Crouse of Akron, and A. O. Bebee of New York, receivers
of the company upon application of the Manhattan Trust Co.,
“ The production of beet sugar has increased from 2.600trustee of the mortgage of 1895, interest on which is in de tons in 189o to 50,000 tons in 1897. In an interview with Hon..
fault.—Y. 65, p. 1069.
H. W. Wiley of the Agricultural Department as long ago as-
J anuary 15, 1818.]
1893, he stated that the most suitable lauds of the country for
the beet-sugar culture were on the West Coast, in Colorado,
•and along the great lakes. Also in northern New York.”
Boston Electric Light.—New Stock .—The Massachusetts
<Gas & Electric-Light Commissioners have authorized the
company to issue $800,000 of new stock for the construction
and equipping of a new central station, such stock to be sold
for not less than $100 per share.—Y. 65, p. 1113.
Brightwood Railway Co. of Washington — M ortgage fo r
$1 00 ,00 0 .—The company is reported to have tiled a mortgage
to Alfred G. Safford and Arthur W. Ferguson, as trustees,
to secure $100,0u0 third mortgage 6 per cent bonds payable
December 1, 1907.
Brooklyn & Brighton Beach RR. |B on dh olders’ C om
view of the foreclosure proceedings, a committee
■consisting of George S. Edgell, James K. O. Sherwood and
Fred. Ingraham has been appointed by the holders of a
majority of the bonds secured by the first mortgage to repre
sent the interests of the bondholders. Holders are requested
to communicate with George S. Edgell at No. 192 Broadway,
New York City.—V. 66, p. 80.
m ittee .—In
Chesapeake & Ohio Ry.—R efu n d in g .—The company has
sold to Harvey Fisk & Sons, in addition to the $1,500,000 of
treasury 4J£ per cents referred to in our issue of Jan. 1
'(page 38), the $2,287,000 of consol. 5s reserved to retire the
purchase money funding 6 per cent bonds due July 1, 1898.
The said firm is offering to receive not exceeding $1,000,000
of the purchase money funding bonds at 101 flat in exchange
for the 5 per cents at 113 and accrued interest.—Y. 66, p. 38.
Chicago Great Western Ry .— Increase o f D eben tu re Stock.
— An extraordinary meeting of holders of the 4 per cent de
benture and of the 5 per cent preferred stock “ A ” collect
ively was held on Jan. 12, 1898, after the ordinary general
meeting, to consider a resolution for the increase of the nom
inal amount of 4 per -cent debenture stock, from $15,000,000 to
$30,000,009. The purpose is to devote the proceeds “ to re
deem at the discretion of the finance committee from time to
time, as opportunity offers at or before maturity, any or all of
the liabilities of the company, which are a charge prior to
the 4 per cent debenture stock, and with the approval of the
¿nance committee for additions and improvements to the
property of the company, and for such other lawful purposes
as the board of directors and a majority in amount of all the
holders of the 4 per cent debenture stock and 5 per cent pre
ferred stock 14A” collectively, in the manner provided in the
trust deed and contract, may from time to time approve.—V.
■A5, p. 823.
€hoctaw Oklohoma & Gulf RR .— B o n d s S old f o r E x t e n
sio n .—The company is reported to have sold $200,000 of its 5
.per cent bonds, from the proceeds of which thirty two miles
of new road will be built. The annual report is cited on
another page of to-day’s issue.—Y. 64, p. 842,
Columbus Hocking Talley & Toledo RR.— Receiver’s C erti
ficates an d F eb ru a ry In terest .—Of the $500,000 receiver’s cer
tificates authorized in 1897, the unsold balance of $300,000
have been issued to pay February interest, amounting to
$96,500 on the Columbus & Toledo and Welston & Jackson
Belt bonds, and to purchase new cars.
N o P la n Te£.—No plan of reorganization has been settled
upon, though several plans have been submitted.—V. 65,
p. 1113.
Equitable Gas.—New York & East River Gas.—New Am
¡steraam Gas.— M odified Plan A p p r o v e d .—The Central
Trust Co. on Tuesday finally adopted the modified plan oconsolidation below indicated. This plan had received the
unanimous recommendation of the directors of both com
panies and also of J. P. Morgan & Co. Opportunity is
given to depositing stockholders to withdraw their stock
within one week after Feb. 5 if they do not assent to the
terms proposed.
M odified F la n —This plan provides that the New Amster
dam Company shall issue and assume securities as follows:
Old Securities to be assumed, with right h ereafter to refu n d
o r extend the s a m e :
Equitable Gas Light 1st M. 6 s, due in 1899............................... $1,000,000
Consol, mortgage 5s, due in 1932
........................................ 2,500,000
Debenture 5s, due in 1905, but subject to call May 1,1 9 0 0
500,000
East River Gas Co. 1st M. 5s, due m *944 ............................... 3,500,000
New York & East River Gas 1st Consol. M. 5s, due in 1945. 1,500,000
New Securities to be Issu ed :
-First consolidated mortgage 5 per cent gold bonds, bearing
interest from Jan. 1 ,18 9 8, at present authorized $11,0 0 0 ,0 0 0 , but in no case to exceed...................................... 2 0 , 0 0 0 ,0 0 0
•Of which as part consideration for Equitable Gas stock*..
6 , 0 0 0 ,0 0 0
do
do
N. Y. & East River p r e f............................... .
2 , 0 0 3 ,2 0 0
Issuable only to reti re old bonds.... ..........................^............
0 , 0 0 0 ,0 0 0
To remain available in treasury...............................
2,004,800
Preferred stock 5 per cent (cumulativeafter Nov. 1 , 1900)..10,000,000
Of which as part consideration for Equitable Gas stock..
3,0 00,0 00
do
for New York <teEast River Gas com. sto ck ....
3,0 00,0 00
Other purposes .............................
1,00 0,00 0
To remain in treasury..........................................
1,00 0,00 0
-Common stock....... .............................................................................13,000,000
As part consideration for Equitable Gas and Acetylene
s to c k ................................
............................... ....................
3 700,000
do
do
N. Y. & East River com m on ...........
2,000.000
For commissions, etc .................................................................................
6 30 0 ,0 0 0
To remain in treasury.............................................................
1,00 0,00 0
D istribu tion o f Cash an d N ew Secu rities .—The holders of
the shares of the old companies will receive the securities of
«the new company as follows*
12‘
á
THE CHRONICLE
New
For ear.h $100 share o f— 1st cons.
Equitable Gas Light stock,
150%
$4,000.000............ ...........
N. Y. & East River Gas:
Pref. stock, $1,671,000.. 120%
Coin, stock, $5,000,000.............
New
New Oom
New
p f, slock. com. stock, for. A cely'e
75%
$75
.100%
4Ò
$17*50
The present plan, it will be observed, leaves available In
the company’s treasury new securities as follows: First con
sol. 5s, $2,994,800; preferred stock, $1,000,000; common stock,
$1,000,000. The former plan (Y. 65, p. 462) would have
left only $1,000,000 of the bonds on hand, and would have
given to the Equitable Gas stock 250 per cent in b mds and
50 per cent in preferred stock, and to the East River pre
ferred stock 125 per cent, and to the common stock 100 per
cent in preferred stock, instead of the terms now adopted.
The Equitable stockholders receive $17 50 per share in com
mon stock of new company to represent stock of New York
Carbide & Acetylene Co. now owned by the Equitable.—V.
66, p. 83.
Hartwell RR . — Ordered S old .—Judge Newman, at At
lanta, Ga., has ordered the foreclosure sale of this road un
der a mortgage for $20,000 made in 1880. The road extends
from Hartwell, Ga , to Bowersville, 10 miles.
Hestonville Mantua & Fairmount Passenger RR.—Union
Traction Co. Philadelphia.—L ea se.— A proposition has been
made by the Union Traction Co. to lease the Hestonville
Mantua & Fairmount Passenger RR. Co. for 999 years, for a
rental of 6 per cent on the preferred stock and 4 per cent on
the common stock, free of all taxes, etc., and payable in gold
semi-annually, in July and January.” A meeting of the
stockholders of the Hestonville road is called for Jan. 27, to
vote on the lease. The matter was to have been acted on at
the annual meeting this week, but the filing of a bill in equity
by Bernard Corr to prevent the consummation of the agree
ment led to a postponement. Mr. Corr holds 400 shares of
stock. The representatives of the Union Traction Co., it is
stated, held proxies for over 37,000 of the total issue of 50,000
shares. The annual statement is given on a preceding page.
—V. 65, p. 1023.
Illinois Central RR.—Ronds Offered —A b stra cts o f M o rt
gages. - Messrs. Kuhn, Loeb & Co. and Vermilye & Co. offer
for subscription at 95 and interest $5,00 >,000 St. Louis Divis
ion & Terminal, and also $10,000,000 Louisville Division
& Terminal,
per cent gold bonds. Abstracts of the mort
gages securing these bonds will be found on pages 136 to 139
of to-day’s C h r o n ic l e .
Stuyvesant Fish, Esq., President of the Illinois Central
RR., gives the following particulars regarding4the property
covered by the bonds :
¿A
L o u is v il l e D iv isio n & T e r m in a l B onds .
r The Louisville division extends from Louisville (tbe largest city in
Kentucky), via Paduoab, to Memphis, Tennessee, with branches to
Owensboro and Elizabethtown in Kentucky. It consists of 440 miles
of main track and 97 miles of sidings. During the last four years
these railroads, and particularly the main line from Memphis to
Louisville, 393 miles, have been greatly improved. On 219 miles the
old light rails have been replaced by new steel rails, weighing 75
pounds to the yard. In the main line, from Memphis to Louisville,
the average weight is 691« pounds to the yard. The road is ballasted
with stone and gravel; new stations have been built; the rolling stock
has been put in thorough good order, and the earning capaoity of the
property greatly increased. The passenger stations and the valuable
terminals in Louisville & Memphis, then not owned, have also been
acquired; large additional properties in the heart of the City of Louis
ville, close to the Ohio River, have been purchased. The passenger
station and the Short Route Transfer Company’s line are now used by
seven of the ten railroads entering Louisville.
The bonds of the above issue are the direct obligation of the Illinois
Central RR. Co., and are secured by a first mortgage executed by the
Chicago St. Louis & New Orleans RR. Co. and the Illinois Central RR.
Co. to the United States Trust Co. of New York as trustee, dated Sep
tember 15,1897. In addition to the railway lines [as shown in the
mortgage abstract] they cover as a first lien, together with the remain
der of the loan the very valuable and well situated passenger sta
tions and terminals in Louisville and Memphis and all the equipment
and rolling stock belonging to the Louisville Division, etc. All these
properties have been acquired by the Chicago St. Louis & New Orleans
RR. Co., and leased by it for a term of 99 years from July 1, l>-97, to
the Illinois Central RR. Co., which, since 1862, has operated the New
Orleans company’s other lines under lease and owns practically its
entire capital stock. The Properties thus form an integral part of the
Illinois Central system.
The lines comprising the Louisville Division have for many years
yielded net returns more than sufficient to pay the interest on the
issue of $20,000,000 bonds. The annual reports of the Chesapeake
Ohio & Southwestern RR. Co. show the gross receipts of that road and
the Cecilia branch to have averaged for the six years from 1888 to
1893 inclusive gross receipts of $2,211,339 and net earnings of
$814,746. From December, 1893, until recently, the three railways
now constituting the Louisville Division were in receivers’ hands, and
it is impossible to state their net earnings with accuracy; but their
gross earnings in the following years of business depression were:
EARNINGS OP LOUISVILLE DIVISION LINES FOR YEARS ENDING JUNE 30
1897.
1896.
1895.
1894.
Average.
$2,564,979
$2,598,454
$2,444,787
$2,251,272
$ 2 ,4 6 4,-73
These properties are now in such a standard of efficiency that it is
thought entirely safe to assume they can be operated and taxes paid
for less than 70 per cent of their gross receipts. The Louisville di
vision affords the Illinois Central much-needed connection to the A t
lantic seaboard, and with other parts of the systim forms the shortest
existing line from Louisville to New Oileans. A steady growth of the
earnings of the division may be confidently expected. From July 1 to
December 31,1897, in fact, the gross earnings of the division have in
creased $153,954, or 11-50 per cent, compared with the same period in
1896. The net earnings for the same six months were $461,743.
St . L ouis D ivisio n & T e r m in a l B onds .
The 8t. Louis Division consists of the railroads formerly belonging
to the St. Louis Alton & Terre Haute RR. Co., the Belleville & South
ern Illinois RR. Co. and five subsidiary companies, all of which prop
erties have been merged by consolidation in the St. Louis Alton &
Terre Haute RR. Co. and leased to the Illinois Central Company for a
term of ninety-nine years from October 1. 1895. These lines run
' from East St. Louis, II1.. opposite the City of St. Louis, to Brooklyn,
•Illinois, on the Ohio River, opposite Paducah, Ky., with various
134
THE CHRONICLE,
branches to Eldorado, Murphysboro and East Carondelet, aggregating
239 miles of main track and 62 miles of sidings. By means of this St.
Louis Division the Illinois Central secures an independent entrance
from the South into St. Louis (which is the fourth city in population
in the United States), together with ample and valuable terminal
property centrally located on the river front at East. St. Louis.
The total authorized issue of these bonds is $15,000,000, of which
amount $10,000,000 bear 3 ‘a per cent interest and the remainder 3
per cent interest. They are all the direct obligation of the Illinois
Central RB. Co. and are secured by mortgage, executed by the St.
Louis Alton & Terre Haute RR. Co. and the Illinois Central RR. Co.
to the United States Trust Co. of New York as trustees upon theabovedescribed 23 i miles of main track and 62 miles of sidings, and all
after-acquired property, etc., together with all equipment and. rolling
stock appertaining thereto; also the very valuable and well located
terminals in East St. Louis, which serve as the railroad yards and dis
tributing point for the traffic centering in St. Louis and East St.
Louis of the entire Illinois Central system, and additional valuable
lands recently purchased in East St. Louis and immediately adjoining
these terminals. Of the old underlying bonds all but $7,000 par value
of the secondary bonds and (with the exception of $1,500,000 bonds
of later maturity, resting on 115 miles of road and 10% miles of sid
ings only, and for the acquisition of which as soon as feasible, new 3 ^
per cent bonds to the amount of $1,650,000 par value are reserved),
all of the first mortgage bonds have been either called for payment on
or before June 1 ,18 9 8, or have already been retired or acquired by
the Illinois Central Company and pledged under the mortgage.
The city of St. Louis is connected with East St. Louis by ferrie3 and by
two bridges across the Mississippi, which re used by all the railroad
companies on like terms. The terminals of the ten railways that lead
to the eastward are on the opposite bank of the river in East St. Louis,
and consist of eleven pieces or land, used as railroad yards, all equal
in size and in immediate proximity to the principal brid ge. Of these
eleven pieces of railroad terminal property two are covered by the
first lien of the mortgage above mentioned securing the Illinois Central
3*2 per cent St. Louis Division bonds.
The St. Louis Division is now, and has long been, the largest carrier
of coal to St. Louis, supplying over one-flith of all the bituminous
coal taken to that city. The present general revival in business gives
every promise that, as in the past, its local net earnings alone will con
tinue to exceed the amount of the eventual maximum fixed charge on
the property, viz.: $500,000 per annum; and this does not take into
account the great advantages to the whole Illinois Central system of
the control and operation of this division and its ter initials.
The lines comprising the St. Louis division also form a complete sys
tem in themselves, and have for many years yielded net returns aver
aging more than sufficient to pay the interest on the total issue of
bonds authorized, as follows:
EARNINGS OF THE ST. LOUIS DIVISION.
Year end. June 3Q.
1897.
1896.
1895.
A v .Q ^ Y rs.
Gross............................$1,292,670 $1,327,697 $1,350,055 $1,401,379
Net (over taxes).......
464,072
479,805
567,527
535,420
From July 1 to Dec. 31, 1897 (December estimated), this division
showed an increase of $48,929, or 19'30 per cent, in its gross earn
ings as compared with the same period of 1892.
The Illinois Central RR. Co. has in each of the past
thirty-five years regularly paid, semi annually, cash div
idends (since 1891 at the rate of 5 per cent par annum), these
dividends having aggregated $78,987,347, showing an average
of $2,255,353 per annum.—V. 65, p. 1173.
Inter-State Commerce Commission.—L on g-a n d -S h o rtH a u l C lause .—At Washington, Jan. 11, the Inter-State Com
merce Commission issued an order dated Jan. 1, 1898, con
tinuing in force until Dec. 31, 1898, the order of March 25,
1897, authorizing certain named railroad companies which
compete with Canadian roads, to charge less for the trans
portation of passengers between points in the Kootenai Dis
trict in British Columbia and certain eastern points
than for the shorter distances to intermediate points on their
respective lines. Such lower rates, however, shall not at
any time be less than those established by the Canadian
Pacific Railway.—V. 65, p. 924.
Lake Shore & Michigan Southern Ry.—$2,692,000 o f 3 % s
L iste d .—The company has listed on the New York Stock
Exchange $2,692,000 additional 3% per cent bonds of 1997,
making total amount listed to date $25,125,000. The addi
tional bonds have been issued to retire $2,388,000 of 7 per
cents.—V. 66, p. 82.
Lincoln Street By.— Second In sta lm en t P a ya ble Jan. 15.
—The second instalment of 25 per cent of subscriptions for
bonds and preferred stock, under terms of agreement dated
Aug. 10, 1897, is payable to-day at the office of the New York
Security & Trust Co., 46 Wall St., New York.—V. 66, p. 82.
Louisville Evansville & St. Louis RR .— R eorganization
P la n . —Messrs. Boyd & Trabue of 80 Chambers Street have
prepared a plan of reorganization which seeks to meet the
conflicting views of the several interests. The plan, which
we are told has been well received by various persons to
whom it has been submitted, provides for the issue of $5,000,000 first mortgage 5 per cent 100-year gold bonds, $4,010,000
3 per cent gold incomes, with voting power. $5.000,000 pre
ferred stock and $5,000,000 common stock.—V. 65, p. 1220.
Louisville & Nashville RR.—S em i-A n n u a l S ta tem en t.—
Earnings for the six months ending Dec. 31, 1897, partly es
timated, compare with actual results as follows:
6 months.
Gross
Net
Fixed
Other
A ll other
end. Dec. 31.
earnings, earnings.
charges.
income.
charges.
1897. est’d ..$ ll,0 5 4 ,7 3 7 $3,760,162 $2,805,284 $286,744 $166,579
1896, act’l .. 10,592,917 3,531,253 2,822,681
216,892
-'51,222
1895, “ ..
10,720,081 3,884,442 2,834,170
176,126
134,785
1894, “ ..
10,186,878 4,106,633 2,820,766
179,844 1,065,282
1893, “ ..
9,755,923 3,874,577 2,850,713
161,940
72,124
which leaves a balance over all charges for six months of
$1,075,043 in 1897, against $674,242 in 1896.
O “ All other charges” include the following: Loss on Geor
gia RR. $11,600 in 1897, against profit of $6,828 in 1896; loss
on other roads, $5,195, against $25,665; sinking fund payments,
e tc., $102,172, against $121,138; advances to South & North
Ala. R R „ $47,612, against $104,419.—Y. 66, p. 81.
Louisville & Southeastern RR .— M ortgage F iled .—The
company has filed a mortgage to secure an issue of $2,500,000
5 per cent thirty-year gold mortgage bonds.—V. 65, p. 1221.
[V ol , LXVL
Manhattan Elevated Ry.—Metropolitan Street Ry.—
Third Ave. RR.—Rapid Transit in New York .— Elevated
R o a d to be E quipped W ith E lectricity a n d E x ten d ed . —M etro
p o lita n S ynd icate W ill N ot B a ld T unnel .—Mayor VanWyck
in his recent message held that the Manhattan Ry. must be
required without delay to change its motive power from
steam to electricity and “ to continue th£ present routes to
the more sparsely settled and more distant localities.”
Accordingly George J. Gould, President of the Manhattan
Ry. Co., this week made the following announcement:
“ We have decided to introduce electricity on the elevated
system, and we will now proceed to effect a general installa
tion with as little delay as possible. I wish it understood
that we purpose to work energetically along the lines indi
cated in Mayor Van Wyck’s message and leave nothing un
done to adapt our accommodations in the fullest possible
degree to the requirements and comfort of the public.”
In view of this announcement President H. H. Vreeland,
of the Metropolitan Street Ry. Co., on Wednesday wrote a
letter to the Rapi l Transit Commission withdrawing the
proposal of his company to build the tunnel, saying :
This movement on the part of the elevated railroads has been re
ceived with approval by the present local authorities. We have no
disposition to do anything to obstruct the suocess of this undertak
ing, and we therefore do not feel that, so long as the alternative
method of securing the desired result appears about to be undertaken,
we would be justified in asking our stockholders to engage in the con
struction of an underground road.
Many persons believe that the relief to be afforded by the
improvements on the Elevated road will at best be but tem
porary. and that nothing should interfere with the prosecu
tion of the work for building an underground system of
rapid transit. Alexander E. Orr, President of the Rapid
Transit Commission, is quoted as saying :
I exceedingly regret this action on the part of the Metropolitan
Street Railway Co., and I think the company is making a grave error
in abandoning the proposed underground system. As I understand it,
the company gives as one of its main reasons for its changed inten
tions the fact that the Administration is decidedly opposed to the
underground scheme. If this is so, and I have all reason to believe
that it is, the Administration is making a serious mistake also.
A g reem en t.— The Metropolitan Street Ry. and the Third
Avenue RR. companies were reported about two weeks ago
to have reached an agreement for harmonious action which
would put a stop to the costly litigation regarding their re
spective rights. The truth of the report is confirmed by the
distribution this week of a circular issued jointly by the
two companies to the property owners of the Boulevard and
other streets in the northern districts.
The “ New York Times” on Thursday said:
In their circular the railroad companies say that they have agreed
to unite in applications to the Municipal Assembly for twenty-flve-year
leases with renewals permitted by law to construct a double track
road to be operated by the underground system of electricity on the
Boulevard from 125th Street to 175th Street, on 145th Street from the
Boulevard to the Harlem River, on the King’s Bridge Road from 162d
Street to 230th Street, and on West 230th street and Riverdale Avenue
to the city line. The road on the Boulevard from 125th Street to 169th
Street would be operated by both companies, each owning its own
conduit and slot, but both using the same track rails. The road on
the Boulevard above 169th Street and on 145th Street to be owned
and operated exclusively by the Metropolitan Company, and the road
on the King’s Bridge Road and 2 10th Street and Riverdale Avenue to
be owned and operated exclusively by the 42d Street Company, which
is controlled by the Third Avenue RR.—V. 65, p. 925; Y. 66, p. 39;
Y. 65, p. 1174.
Marsden Company. —Issu e U n d erw ritten .— Subscription s
Close Jan. 15 .—Subscriptions will close to-day at 12 o’clock,
noon, for the issue of 10,0.0 shares of 6 per cent cumulative
preferred stock, the proceeds of which will be used in the
construction of six additional plants and the purchase of the
raw material. Each subscriber to one hundred shares of
preferred stock, or in that proportion, will be delivered five
hundred shares of full-paid common stock. About three
thousand shares have already been subscribed, and the whole
of the balance has been underwritten. An official circular
concerning the enterprise, which has for its object the man
ufacture of the heretofore waste corn-stalk into merchantable
products (cellulose and live-stock feed), was cited in the
C h r o n ic l e of Dec. 18,1897, page 1174.—V. 65, p. 1174.
Metropolitan Trust Co., New York .— N ew P resid en t .—
Brayton Ives was this week elected President to fill the va
cancy created by the death last July of Thomas Hillhouse.
Missouri Electric Light & Power.—Edison Illuminating
of St. Louis.-— New Securities R ea d y .—The new securities are
now being distributed.—V. 66, p. 82.
Montana Union Ry.—S ale.—Wm. D. Cornish, Special Mas
ter, will sell at auction to the highest bidder on Jan, 26 the
claims of $446,188 of the Union Pacific against the Montana
Union Railway and the claim of $318,151 against the Montana
Railway. The sale is advertised to be held at the Real Estate
Exchange in this city.
New Orleans & Western RR .— P resident A p p o in te d R e
ceiver .—In the U. S. District Court at New Orleans on Jan.
10, on the application of the State Trust Co., trustee of the
first mortgage, C. B. Van Nostrand, the President of the
New Orleans & Western RR., was appointed receiver. It
appears that the company was not provided with sufficient
working capital to handle its large business, and for the pro
tection of all interests it was deemed best to place the prop
erty temporarily in the hands of the Court. Interest due July
1, 1897, and since is in default.—Y. 64, p. 373.
New fYork Biscuit—United States Biscuit.—A p p lic a
tion o f P referred Stock o f N ew C o m p a n y .—The distribution
of the $25,000,000 preferred stock of the United States Biscuit
Jan uary
15, 18£8.j
THE CHBONICLF.
Co., the new consolidated company, it is stated, will be as
follows :
let ^ id e 6to ta^e u p ^ e s ^ t ^ e b t of ab^ve three^ompames
For National, Decatur and Hamilton and tweuty one small
2,748,000
g 9()0 00()
T
2,002,000
_
.g Z
treasury for furthervroriing capital!! ! " . . " ! ! !
T o t a l....................................................................................... $25,000,000
New’York Central & Hudsont River
m . — In ju n ction D e
135
St. Louis Chicago & St. Paul Ry .— N ew M ortgages F iled .—
The company has filed its new mortgages, the first mortgage
for $1 500,000 to the Mercantile Trust Co. and Louis Fitzgeral, trustees; and the second, for $1,235,000, to secuie noncumulative income 6 per cent bonds, to the Atlantic Trust
Co. and L. Y. F. Randolph, trustees.—V. 65, p. 730.
South Jersey RR.—R eorg a n iza tion P la n .— A committee
consisting of Robert P. Linderman and TJiomas Robb has
issued a plan of reorganization which provides for the fol
lowing new securities.
lien 50-year 5 per cent gold bonds to retire the re_Judge Lacombe on Tuesday denied the application of Prior
ceiver’s certificates........................................................................... ............
Charles de Neufville for a preliminary injunction to stop the General mort. series A, 50-year gold 5s, to be § lv e n a t9 01 n
sale of the new bonds of the New Y o r k Ce n^al un til his suit
exchange for an assessment of 12 per cent on the face
value ($1,035,000) of the claims of the creditors and bond
regarding the foreclosure sale of the New York & Northern
holders (without interest), the cash received to be applied
should be decided. The Judge said:
to betterments $70,000 and to interest fund $50,000............ 150,000
n ied
Tf it no decided at final hearing that the mortgages should he oanceÌid so fa fa s it eovers the property in cmestton, relief thus granted
will fully protect all the complainant’s rights. Nor will complainant
he injured in any degree by the circumstance that more bonds may he
issued in the interim.—V. 66, p. 83.
General mortgage, Series B, 50-year » “Id bonds (as to interest rate see below), to be issued to the holders of the
present indebtedness of the company, secured and
unsecured, who shall assent to the plan, to the amount
of 50 per cent of their claims, together with stock of the
tiaw comDanv at par for the fullamountof such claims,
of This stock one half to be preferred q,nd one-half common. 600,000
Stock, preferred, to be issued as above......................................... »uu.ooo
Stock, common,
do.
do.
.......................................... 600,000
Ogden Street Ry.—West Chicago Street I t n .~ f 5 0 0 .0 0 0
mortgage 6 per cent bonds of the Og
den Street Ry. Co. to the amount of $500.000 are offered by
advertisement in another column on a 5J^ per cent basis.
No interest is to be paid out of the earnings of the road
The road is leased to the West Chicago RR. Co., which has upon any of the bond issues for the first two years,
endorsed the above bonds with the following guaranty:
a f u n d being provided for that by the plan. In the case o f
F o r v a l u e r e c e i v e d t h e W e s t C h i c a g o S t r e e t H H . C o . h e r e b y g u a r a n the bonds issued to assenting creditors for their claim?, in
t e e s t h e p r o m p t p a y m e n t a t m a tu r lt y o f t h e p r in c ip a l a n d in te r e s t o f
terest if earned will be paid at the rate of 2 per cent the first
t h e w it h in b o n d .
C h ic a g o s t k e e t R a il r o a d C o m p a n y ,
three years. From that it increases at stated periods until
at the expiration of nine years the full 5 per cent will be
Attest:
secretary
By
Vice-President.
paid No provision is made for the old stock.
—V. 62, p. 779; V. 65, p. 282.
Assenting security holders must deposit their securities
Oregon Railroad & Navigation C o—B o n d s L i s t e d — Con and claims with the Girard Life Insurance Annuity & Trust
solidated mortgage bonds to the amount of $587,000 have Co. of Philadelphia by Jan. 28.—V. 62, p. 415.
been listed on the New York Stock Exchange, making the
Springfield (Mass.) Street Ry.—New StocJe. At the annual
total listed $18,152,000. Of this new issue, $186/00 was is
sued in place of a like amount of Oregon Ry. & Navigation meeting on Wednesday the stockholders authorized the
first 6s retired by the sinking fund at par and $401,000 in ex directors to issue 3,000 shares of stock to meet the expenses
change for $440,000 of said bonds voluntarily surrendered incurred for extensions and improvements.—Y. 65, p. 1022.
under the offer below mentioned. The amount of first mort
Third Avenue RR.—Union Ry., New York. Purchased.
gage 6s outstanding has been reduced from $4,451,C00 on
A majority interest in the stock of the Union Ry. has been
July 1,1897, to $1.939,000.
purchased in the interest of the Third Avenue Railroad Com
Offer to R efu n d 1st 6s to be W ith d ra w n F eb i.-K u h n ,
Loèb <fe Co. announce that the offer to refund the first mort pany for about $200 per $100 share. The agreement with the
gage 6s of the Oregon Railway & Navigation Co. maturmg Metropolitan Street Ry. with regard to extensions m the
in 1909, into 4 per cent consols maturing m 1946, will be northern section of the city is mentioned in a preceding
withdrawn on Feb. 1. Until then the conversion can be ef item entitled Manhattan Ry. Co.—V. 65, p. 1221, 879.
fected upon a basis of $1,210 in 4 per cent bonds for $1,000 in
Union Pacific Ry.—Oregon Short Line RR.—Oregon
. 6 per cent bonds, with an adjustment of the accrued interest. RR. & Navigation Co.—R ep ort Denied.—Regarding the re
The larger part of the 6s has already been refunded as shown ported control of the Oregon Short Line and Oregon Railroad
above.—V. 65, p. 1222; Y. 66, p. 83.
& Navigation companies by the new Union Pacific Co.
Paterson Central Electric Ry.—R eceiver.— On the appli through purchase of a majority of the stock of the Oregon
cation of its President this company has been placed in Short Line, we are authoritatively informed that there has
the hands of a receiver. The earnings for the year 1897, been no change in the situation regarding the Oregon Short
Line stock since the U. P reorganization committee acquired
it is stated, were $7,500 less than charges.
some six weeks ago the block of Oregon Short Line stock
People’s' Gas Light & C o l i e — A n n u a l M eetin g A djou rn ed (amounting to $8,460,000) from the trustees of the collateral
Till Feb. 10.— The annual meeting adjourned till Feb. 10, as
trust mortgage of 1891, secuiing U. P. gold note 6s.
the consolidation last August “ has made it impossible for
While this block of stock gives the Union Pacific a pre
the Auditor and Treasurer to prepare the annual report tor ponderating holding of the Short Line stock (of which the
the year to December 31, 1897, in time to be submitted at total issue is $24,778,600), it does not, we are informed, give
this meeting of the stockholders.”—V. 66, p. 83.
that company a majority interest, nor is there any intention
Peoria Decatur & Evansville RR.—Jan. 20 F ix e d as to disturb the Oregon RR. & Navigation voting trust, which
L im it fo r F irst P a ym en t on Second M o rtg a g e B o n d s .- lhe runs until 1906. The importance of preserving the inde
Scudder Committee has fixed Jan. 20 as the date on or pendence of the O. RR. & N. as a terminal in the interests of
before which holders of certificates for second mortgage the three companies, the Union Pacific, Great Northern and
bonds shall subscribe under the terms of the reorganization Northern Pacific, is thought to warrant the belief that no
one of these companies will attempt an independent control.
plan and pay the first instalment thereon.—V. 65, p. 1222.
P etition to In terven e.— Sale o f Collateral P ledged f o r G old
Peoria Water C o—S old.— 'This property was sold under Notes 6s o f 1891 P ostponed till Jan. 26.— Judge Lacombe on
foreclose re yesterday to the Barbour Committee for a price Tuesday heard arguments from Roger Foster and ex-Judge
said to be $1,500,000.—Y. 64, p. 470.
George H. Yeaman representing holders of bonds guaranteed
Philadelphia Reading & New England RR.—In terest on by the Union Pacific Ry. who wish to intervene in the fore
D utchess C o u n ty R R . B o n d s.— Representatives of the Wilson closure suit which is pending under the deed of trust secur
Committee, it is stated, have informally notified Receiver ing the Union Pacific gold notes 6s (Morgan notes) ot 1891.
Sherwood that they will resist in the courts further pay The unsecured creditors also asked permission to intervene.
ment of interest on tie bonds of the Dutchess County Rail The point was raised that there was due on the collateral
road. The question will come up in definite shape in June, notes only $3,183,COO, that the holders were to receive 15 per
when the next coupon is due. The Wilson Committee is also cent in the preferrred stock of the New Union Pacific Com
understood to be opposed to the payment of interest on the pany, and that the collateral remaining pledged should be
sold for much in excess of the amount due. Judge Lacombe
floating debt.—Y. 65, p. 365.
will give his decision on Monday next. The sale, as shown by
Rhode Island Locomotive Works.—S old . —This property advertisement in another column, has been postponed till
was sold on Jan. 6 under foreclosure of the mortgage for
$3( 0,000 to the Rhode Island Hospital Trust Co. as trustee,
A ctu a l Price P a id f o r M a in L in e .— In our editorial columns
and purchased for the bondholders for $130,000. The plant last week we gave the exact amount paid by the Reorgani
is taxed for a valuation of $368,560.
zation Committee for the Union Pacific main line. This was
75, including the sinking fund holding of $4,549,Rome & Carrollton—Chattanooga Rome & Southern RR. $58,448,223
368 26 cash and $13,645,250 securities. Deducting the sink
— N otice to R . & C. B on dh olders — Holders of Rome & Car
fund assets, the net cost to the committee was $49,253,rollton first mortgage bonds are requested to communicate ing
49. The Government claim, as is known, was only a sec
with Wm. Strauss, 30*Broad Street, with the view of com 605
lien, and the committee purchased also the first mort
bining interests for mutual protection. The old Caattanooga ond
lie». For this latter its payments, principal and inter
Rome & Columbus RR. was sold in foreclosure in January, gage
est, have been $27,637,435, making the cost of the first and
1897, subject to the$150,000 underlying mortgage of the Rome second mortgage liens combined $67,891,040 49. Adding on
& Carrollton. Tt e company has been reorganized as the
$13,645,250 of securities purchased for an equal amount
Chattanooga Rome & Southern, but the interest on the R. & the
C. bonds is in default since January, 1893. It is understood in cash, it is seen that the committee has had to provide tor
million dollars. V. b b ,
that a majority of the bonds has been secured in the inter payments aggregating over 81
p. 84; V. 65, p. 824; V. 66, p. 83.
ests of the new company.—V. 65, p. 1113.
B o n d s Offered.—First
136
THE CHRONICLE.
Car.—F oreclosure Sales Ja n . 31 a n d Feb. 1.
— lne foreclosure of the company’s property in the Illinois
district is advertised for Jan. 3i at Hegewisch, 111., the
upset price being $75,000. In the Ohio district the sale will
Crbana, Ohio, on Feb. 1, and the upset price is
$7,500.—V. 65, p. 1174.
[V o l . L X V L
Reports and .JJcrcmueuls.
IL L IN O IS C E N T R A L
R A IL R O A D .
W. J. Hitchcock & Co. —C reditors A s s e n t. —Creditors
ABSTRACT OF
representing over 80 per cent of the required proportion have
already executed and filed with the United States Trust Co., LOUISVILLE DIVISION Sc TERMINAL FIRST M O R TG A G E Depository, the plan of Dec. 14. 1897.—V. 66, p. 82.
D a te d Se p t . 15,1897.
Walter Baker & Co., Limited—Chocolate. — P roperty
TO SECURE
T ra n sferred . —The formal transfer of the chocolate factory
of Walter Baker & Co., limited, has been made to Lee, Hig$25,000,000 3^ PER CENT GOLD BONDS
gmson & Co. and J. Malcolm Forbes, and the company has
D u e J u l y 1, 1953.
received in return $4.750,000. The annual stockholders’
meeting was to be held Wednesday, Jan. 12, when the pres
ent Board of Directors were to be re-elected, and Charles W.
PARTIES.
Amory and Nathaniel H. Stone added. The Legislature will
The Chicago St . L ouis & New O rleans RR. Co (the*
be asked to permit an increase of the capital stock from
“ New Orleans Company”), party of the first part; the Ill
$1,000,000 to $4,750,000.—V. 65, p. 373.
inois Central RR. Co. (the “ Illinois Central Company”),
party
of the second part, and the U nited States Trust Coi
Western New York & 'Pennsylvania H y . —S em i-a n n u a l
S ta tem en t. —At the annual meeting of the stockholders this of New Y ork (the Trustee), party of the third part.
week President D 3 Coursey read a supplementary statement
OF
NEW ORLEANS COMPANY'
covering the six months from July 1 to Dec. 31 inclusive, PREAMBLE.—MORTGAGE
SECURING ILLINOIS CENTRAL BONDS.
December being partly estimated. The gross earnings for
W hereas, The New Orleans Company has by deed of con
that period were $1,850,623, an increase of $179,4Q6, and the
dated Sept. 15, 1897, received from the Illinois
net earnings $710,725, an increase of $103,525 compared with veyance
Central Company and others the title in fee simple to the
the same period in 1896.
railroad properties hereinafter described, and has also ac
President De Coursey said in substance :
quired the lease of the Cecilia branch of the Louisville &
The net earnlnars were the largest for the period in the com- Nashville RR., said lines of road forming the Louisville Dir
pany s history, although the average freight rate per ton per mile was
half a mill less than in the corresponding period of 1896. Had the vision of the Illinois Central system; and as part considera
same rate been r. ceived the earnings would have been $140,000 tion for said properties has agreed to execute a purchase
larger and would have amounted to $880,725, or nearly the fixed money mortgage thereon securing gold bonds of the Illinois.
charges and taxes, for the whole fiscal year. To the very low rates on Centra1 Company for $18,888,000, of a total authorized issue
bituminous coal, which comprises so large a portion of your company’ s
traffic, is still mainly to be attributed the fact that we have not of $25,000,000, and to demise the said railroads by lease dated
ne^ re8U^l® in proportion to our increase in tonnage.
Sept. 15, 1897, to the Illinois Central Company for ninetyEfforts are again being made to induce harmonious action in the nine years from July 1,1897;
handling of soft coal, and if they are successful there will be an
Improvement in coal rates after the first of May next. The company
does not owe one dollar of borrowed money. It has no bills payable
other than equipment notes, which now amount to $102,193 8 • as
?§no
$L 098,477 45 in 1891. The money for interest due April 1,
1898, on your general mortgage bonds is now on deposit and drawing
interest.—V. 65, p. 932.
Wisconsin Central.—C om m ittee to R ep resen t Stocle and
R. Hart, Alpheus H. Hardy and I. W.
Chick, all of Boston, have been constituted a committee for
the protection of the income 5 per cent bonds and the pre
ferred and common stock. An agreement for concerted
action has been prepared, and holders of above securities are
invited to deposit their several securities with the Old Col
ony Trust Co., Boston, or Manhattan Trust Co., New York,
where copies of the agreement may be obtained. Securities
must be deposited on or before Feb. 15th. See further par
ticulars in advertisement on another page.—V. 66, p. 84.
In co m es. —Francis
DESCRIPTION AND PURPOSE OF ILLINOIS CENTRAL BONDS-.
A nd whereas, the Illinois Central Company, in order to
meet the expense of conveying said premises free of ail in
debtedness, to the New Orleans Company, etc., is about to
issue $18,883,000 of said gold bonds, to be payable on July ft.
1953, in gold coin of the United States of America, of or equal
to the present standard of weight and fineness, in the city
of New York, with interest thereon at the rate of 31A per
cent per annum payable in like goid coin in said city, semi
annually, commencing Jan. 1, 1898, and the New OrleansCompany is to pay to the Illinois Central Company the principal of said bonds at their maturity;
AND whereas, the Illinois Central Company has agreed
to issue an additional $1,112,000 of the above-mentioned
bonds to acquire said Cecilia Branch or to construct a sim
ilar line, and may hereafter issue an additional $5,000,000 of
said bonds, for future acquisitions, actual, additions and ex
tensions to the properties hereby mortgaged, which Cecilia
Branch or similar line, and all such future acquisitions, ac
tual additions and extensions are to be vested in the NewOrleans Company, and be subject to the lien of this in
denture as a first lien, and are to be leased to the IUinois
Central Company, as provided in said lease of Sept. 15, 1897;
—Kuhn, Loeb & Co. and Vermilye & Co. offer at 95 and
accrued interest $10,000,000 Illinois Central RR. Co. 3 Û per
cent Louisville Divisioi & Terminal first mortgage gold
bonds, principal payable July 1, 1953; also $5,000,000 Illinois
Central RR. Co.
per cent, St. Louis Division & Terminal
first mortgage gold bonds, principal payable July 1, 1951.
A nd whereas, said bonds are to be of the denomination
These bonds are direct obligations of the Illinois Central RR. of $1,000 or $500 each, and substantially of the following
Co. A letter of Stuyvesant Fish, President of the Illi
nois Central RR. Co., is attached to the circular issued
FORM OF BOND.
by the bankers, stating, among other facts, that the lines
IL L IN O IS CENTRAL R A 1 L R 1 A D COM PANY.
comprising the St. Louis division and the Louisville division
L o u isv ill e D iv isio n & T e r m in a l F ir s t Mo r tg a g e G o ld B ond .
each form a complete system in themselves, controlling an
The I llinois Oe n tr a l R a il r o a d C o m p a n y , for value received»old-established traffic, and that those properties, according to
official reports, have for many years yielded net returns hereby promises to pay to the bearer, or, if registered, to the regis*averaging more than enough to pay the interest of the Louis tered holder of this bond,
dollars ($
), in gold
ville division bonds and St. Louis division bonds. At the coin of the United States of America of or equal to the present stan
date of its last yearly report, the Illinois Central Railroad sys dard of weight and fineness, on the first day of July, in the year 1953*
tem had in operation 4,394 miles. For the past 35 years it in the city of New York, and to pay interest thereon at the rate of 3*2
has regularly paid cash divideuds, since 1891 at the rate of 5 per cent per annum, in like gold coin, in said city, semi-annually on
per cent per annum, representing a total average of $2,255,353 the first days of January and July in each year, upon presentation and
per annum. For the fiscal year ending June 30 last the free surrender as they severally mature of the interest coupons hereto an
divisible surplus, after payment of all fixed charges, was nexed. The principal and interest of his bond are payable withoutaccording to official figures, $2,736,691, Compared with thé deduction for United States, State, municipal or other taxes in the
corresponding months of the last fiscal year, the net earnings United States.
for the first six months to December 31st, 1897, show a heavy
This bond is one of a series known as the Louisville Division & Ter
increase. The subscription books will be opened at 10 o'clock minal First Mortgage Gold Bonds of the Illinois Central RR. Co., to
on Jan. 18 and will be closed at 3 o’clock p. m. or earlier on an amount not exceeding in the aggregate the sum of $25,000,000 at
the following day, the right being reserved to reject any ap any onetime outstanding, which bonds are issued and to be issued un:
plications and to award a smaller amount than applied for. der and in pursuance of and to be equally secured by a first mortgage
Subscription lists will be opened simultaneously in London,
Amsterdam, Berlin, Hamburg, Brussels and Geneva, thus and deed of trust dated Sept. 1 5,1 8 9 7 , executed by the Chicago St.
Louis & New Orleans RR. Co., of the first part; the Illinois Central RR.
securing for the bonds an international market.
—Messrs. E. H. Gay & Co., Boston, are offering $500,000
Ogden Sireet Railwav Company first mortgage 6 per cent
bonds, due 1916, on a 5 % per cent income basis. The princi
pal and interest of these bonds is guaranteed by the West
Chicago Street Railroad Company, to which it is leased for
99 years. See particulars in advertisement.
—Messrs. Redmond, Kerr & Co. offer for investment a
selected list of securities which will be found advertised on
page vil.
Co., of the seeond part, and the United States Trust Co. of New York,
as Trustee, of the third part, to whieh mortgage and deed of trust ref err
ence is made for a description of the prop3rties and franchises mort”
gaged and the nature and extent of the security and the rights of the
holders of said bonds issued thereunder and secured thereby. Thisbond shall not become valid or obligatory for any purpose unless and
until it shall have been authenticated by the certificate hereon en,
dorsed of the said United States Trust Company as Trustee.
The holder hereof may have the ownership of this bond registered
on the books of the Illinois Central RR. Co., such registry being noted:
on the bond, after which no transfer shall be valid unless made on th®>
•January 15, 18i8.]
137
THE CHRONICLE
6. To be deposited with the United States Trust Co. as securi•said books by tbe registered bolder in person, or by his attorney duly
tv for the Two-Ten bonds of 1893 and to be issued m exauthorized, and noted on the bond, but the same may be discharged
changeforthe latter at the rateof $ 1 , 1 1 2 par value ° f uew
bonds for each *1,000 Two-Ten bond paid and canceled..$ 6,8 0 0 ,0 W
from registry by being in like manner transferred to bearer, after
■which it shall be transferable by delivery. Or the holder hereof may c. To be issued upon certificate of President of Illinois Cen
tral, approved by its Board of Directors, for the purpose
at any time surrender to said Railroad Company for cancellation all
of discharging any other claims against the properties, or
the coupons hereto annexed not then due, and have this bond entered
to reimburse Illinois Central« ompany for the expense of
reorganization, the acquisition of securities therein or
o n said Company’s books as a registered bond. The surrender and
payments for sinking funds or premium on bonds or
cancellation of the coupons shall be noted on the back hereof, after
otherwise......................................................................................... d,D8»,ow
whioh this bond shall cease to be transferable by delivery and become
$1,112,000 BONDS RESERVED TO ACQUIRE CECILIA BRANCH.
a registered bond transferable only on the books of said Company, and Whenever the Cecilia Branch shall be acquired and sub
the interest thereon semi-annually, and the principal thereof, when
jected to the first lien of this indenture, such reserve
bonds shall be delivered from time to time to the amount
<lue, shall be payable only to the registered holder hereof, or his legal
of $1,112 for each $1,000 of the bonds secured by the
representatives or assigns.
[$1,000,000] mortgage upon the said Cecilia Branch, dated
I n w i t n e s s w h e r e o f the Illinois Central RR. Co. has caused these
March 1 ,1 8 7 7 , which shall have been paid and canceled,
including the bonds heretofore paid and canceled. [To
presents to be signed on its behalf by its President or one of its ViceJanuary, 1898, Cecilian branch bonds (7 per cents due
Presidents, and its corporate seal to be hereunto affixed, attested by
March 1 ,1 9 0 7 ), to the amount of $455,000 had been c tiled
for the sinking fund and canceled, leaving $545,000 out■Its Secretary or Assistant Secretary, and coupons for said interest with
standing.—Ed. ] ............ ................... ..............................................$1,112,000
the engraved signature of its Treasurer to be hereunto attached, this
$5,000,000 FOR FUTURE ACQUISITIONS, ADDITIONS AND EXTENSIONS.
15th day of September, 1597.
For future acquisitions, aotual additions and extensions
FORM OF COUPON.
to the properties hereby conveyed, which acquisitions,
additions and extensions shall thereupon become subject
The Illinois Central RR. Co. win pay to bearer in the city of New
to the first lien of this indenture and the operation of said
York on the first day of
,
»
aud
lease to the Illinois Central Company.................................... $&,ouu,uuu
loo dollars in gold coin, being six months’ interest then due on its
COVENANTS FOR BENEFIT OF BONDHOLDERS.
Louisville Division & Terminal First Mortgage Gold Bond No.
A r t ic l e T h i r d , E t c .— Among the covenants for the bene
Treasurer.
PROPERTY COVERED
fits of the bondholders are the following :
B Y MORTGAGE.
B o n d s m u tila te d or d e stro y e d m a y b e r e p la c e d .
Now, t h e r e f o r e , this indenture witnesseth: That for the
equal and proportionate security of all the bonds at any
time outstanding under this indenture, and in consideration
of one dollar, etc., duly received, the said C h i c a g o S t . L o u is
N e w O r l e a n s RR. Co hereby conveys unto the Trustee
all the railroad property, rights, privileges, franchises and
immunities formerly held by the companies below named,
but now owned by the New Orleans Company, and also all
interest in the leased lines here shown, viz.:
RAILROAD LINES OWNED AND CONVEYED.
Principal and interest of bonis to be paid promptly, tax fee (see
bond).
, .
.,
.."
All lawful taxes and assessments to be promptly paid.
Office for payment of coupons to be maintained m New York City.
Property to be kept in thorough repair and well equipped.
This mortgage to be kept a first lien.
All cla im s g iv e n p r io rity b y la w to b e pa id .
NEW ORLEANS COMPANY COVENANTS TO P A Y THE BONDS AS
PURCHASE PRICE.
The New Orleans Company covenants to pay to the Illinois
Central Company at their maturity the principal of all the
bonds issued under this indenture as the purchase price
of the said railroad premises, and of any future acquisitions,
actual additions and extensions as aforesaid; and in case
said lease of Sept. 15, 1897, shall be terminated for any
cause before their maturity, the New Orleans Company will
pay the principal to the Illinois Central Co. forthwith.
Name o } fo r m e r ow ner and description o f lines owned.
*Miles.
■Chesapeake Ohio & Southwestern RR. Co.
_
Elizabethtown, Ky., via Paducah, Ky., to Memphis, Tenn.
(right of way 100 feet wide)...........- - - - - .................
■ g®*
(Branch from near May fie d to the Ohio Rivei opposite Cairo. 1 Not
Branch from the Tennessee River southwesterly to a point > built
30 miles south of Paducah.................. - ............. - — •- w —
Also all telegraph lines formerly owned by the C. O. & S.
ILLINOIS CENTRAL IN ANY CASE TO HAVE POSSESSION OF
W. RR.
TT1WT<TT
n rvrm a
A R T ?. P A T n .
‘Short Route Railway Transfer Co. line in Louisville, Ky.
[Double tracked terminal and connecting railroad, mostly
And said Illinois Central Company shall have, as against
elevated on an iron viaduct.—E d .]
the said New Orleans Company, a lien upon all the said rail
Between Preston 8t. and 14th St. and Main St. and the Ohio
road property and premises hereby mortgaged which shall
River, passing along Water St. and the Ohio R iv e r ..........
l^
entitle it to retain the possession and use thereof, and to
Owensboro Falls of Rough & Green River RR.
Owensboro, Ky., to junction with line first mentioned at
enjoy the revenues to be derived therefrom, until the prin
Horse Branch, K y .....................................................................-- 42
cipal of said bonds shall be paid.
L in e leased fro m L ouisville <t N ashville JIB.
BONDS TO BE REGISTRABLE IN NEW YORK CITY.
(Lease (until actually acouired under privilege to purchase)
from L. & N . RR. C o .'of line from Louisville to Cecilia
The
Illinois Central Company will maintain an office in
-Junction, “ Cecilia Branch” .............. ........................................ .
4 5 1a
Total...................................................................................................
440
*Tbese figures of mileage are not from tbe mortgage.—E d .
New York City for the registration of the bonds—see copy
of bond above.
DEFAULT—TRUSTEE
M AY
TAKE
POSSESSION.
A r t ic l e F i f t h . In case of default in the payment of any
And all other property, real and personal, now owned or
hereafter acquired, pertaining to the Louisville Division, interest or of the principal of any bond hereby secured, or
in case of default in the due observance of any covenant
including:
herein, and any such last-mentioned default shall continue
Lands, rights of way, real estate and leaseholds, etc.
Tracks, bridges, buildings, warehouses, elevators, etc.
for a period of sixty days after written notice thereof from
Franchises, rights and privileges.
the Trustee or from the holders of 5 per cent of the bonds
Rolling stock, equipment, materials and supplies.
hereby secured, then the Trustee may forthwith enter upon
Rents, earnings, income, profits, tolls, etc.
all the railroads and premises hereby conveyed, and manage
‘ SEAL ESTATE IN LOUISVILLE, OWENSBORO, PADUCAH AND MEMPHIS, ETC"
the same to the best advantage of the bondholders.
And after deducting the expenses of operating and of all
Also all the terminal properties and the lands and prop
erty in the cities of Louisville, Owensboro and Paducah, in repairs, additions, betterments and improvements, and all
the State of Kentucky, and in the city of Memphis, State of taxes, assessments, insurance and other proper charges, the
Tennessee, and elsewhere on said railroads, appertaining to Trustee shall apply the moneys received as follows:
said railroads, and all the other real estate as well as prop
First. In case the bonds hereby secured shall not have become due
erty acquired under said deed of conveyance dated Sept. 15. to the payment ratabl.v to the persons entitled thereto of the interest
in default in the order of its maturity, with interest on the overdue
, , ,, .
,
,
.__
THE LEASE AND ALL RIGHTS OF ILLINOIS CENTRAL THERE instalments.
Second. In case the bonds hereby secured shall have become due, by
UNDER TO BE SUBJECT TO THIS MORTGAGE.
.YH33U8S declaration or otherwise, first, to the payment of the accrued interest
(with interest on the overdue instalments thereof) in the order of its
And the I l l in o is C e n t r a l RR. Co. for a like considera' maturity:
and next, if any surplus remain, towards the payment),
tion, etc., hereby grants unto the Trustee the said lease of the principal of all bonds hereby secured.
Sept. 15, 1897, and leasehold property, and all of said com
FOR SIX MONTHS—PRINCIPAL SHALL BE DEpany’s interest now held or hereafter to be acquired in the DEFAULT
OLARED DUE IF MAJORITY OF BONDS SO REQUEST.
property above described, and covenants ^that the lien of
A r t ic l e S i x t h . In case of default for six months in tli^
this indenture shall be paramount to said lease, and all
rights arising thereunder, and that said lease shall not be payment of interest on any bond, the Trustee, upon th©
modified hereafter to the prejudice of the security hereby written request of the holders of a majority of the bonds
then outstanding, shall, by notice in writing, declare the
created.
/
principal of all the bonds outstanding to be due and payable
$2,000,000 OF THE LOAN TO BE IN $500IP IE C E S 11
immediately.
But if at any time thereafter all arrears of interest, with
A r t ic l e F i r s t . The bonds numbered from 18,001 to 22,000
inclusive, shall be of the denomination of $500 each ; all interest thereon, shall be paid before sale of the mortgaged
premises, then the holders of a majority in the amount of
others $1,000 each.
the bonds may waive such default and its consequences.
PURPOSES FOR W HICH THE BOND8 MAY BE ISSUED.
DEFAULT FOR SIX MONTHS—T RUSTEE M AY SELL.
The said $25,000,000 of bonds shall be de
A r t ic l e S e v e n t h . In case of default for six months in
livered on request of the railroad companies as follows:
the payment of principal or interest of any bond hereby se
cured, or in the obser vance of any covenant as more Par
THE $18,888,000 BONDS— WHEN TO BE ISSUED.
ticularly described in Article Fifth, the Trustee shall be
•a. Upon the discharge of the Chesapeake Ohio & South
western 1st M. 6s of 1882, the Paducah & Elizabethtown
forthwith entitled to sell to the highest bidder in one lot
1st M. 6s and 8s of 1877 and the $300,000 receiver’s cer tittand as an entirety all and singular the mortgaged railroads
cates [all now paid off—Ed.], there may be issued...............$8,500,000
A r t ic l e S e c o n d .
133
THE CHRONICLE
[V o l .
lx
\ i.
and premises at public auction at such place on the railroads
ABSTRACT OF
hereby mortgaged and at such time and upon such terms as
the Trustee may fix.
ST. LOUIS DIVISION $c TERMINAL SFIRST M ORTGAGE
DEFAULT—TRUSTEE
M AY INSTITUTE
OTHER SUITS.
FORECLOSURE
OR
In case of default in any of the manners
described in Article Fifth the Trustee may forthwith pro
ceed to enforce the rights of the bondholders by suits in
equity or at law, for the performance of any covenant or for
the foreclosure of this indenture or for the enforcement of
any other appropriate remedy, as thé Trustee shall deem
most effectual.
D ated S e p t . 15, 1897,
A r t ic l e E i g h t h .
DEFAULT—VARIOUS PROVISIONS.
¡TO SECURE
$15,000,000 ILLINOIS CENTRAL GOLD BONDS
D ue J uly 1, 1951.
PARTIES.
& T e r r e H a u t e RR. C o . (the
The mortgage con ‘Terre Haute Company” ), party of the first part; the I l
tains the usual carefully-drawn provisions defining the l in o is C e n t r a l R R . Co. (the “ Illinois Central Company” ),
further rights of the Trustee, the bondholders, etc., in case party of the second part; the U n it e d S t a t e s T r u s t C o . o f
of default, some of these provisions being as follows:
N e w Y o r k (the “ Trustee” ), party of the third part, and
Upon commencement of judicial proceedings, a receiver may be ap J o h n A . S t e w a r t , of N e w York, party of the fourth part:
The
St.
L o u is
A lton
A r t ic l e s E i g h t h to E l e v e n t h , E t c .
pointed for benefit of bondholders.
The remedies herein are additional to all other remedies existing at
law, except as herein expressly provided to contrary
Property to be sold in one parcel, unless otherwise requested by
holders of a majority of bonds.
Notice of sale to be advertised for four weeks.
Principal to become due on sale of mortgaged premises.
Proceeds^ of sale, after payment of expenses, to be applied to pay
ment of principal and interest ratably without preference of one over
the other.
Purchaser may apply bonds, etc., on purchase price.
Trustee may recover judgment for amount due on principal and in
terest.
The benefit of all valuation, stay, extension or redemption laws are
waived by the railroad companies.
RELEASE OF PROPERTY NO LONGER OF USE TO RAILROAD
COMPANIES.
A r t ic l e T w e l f t h . Upon the written request of the Rail
road Companies, approved by their respective boards of di
rectors, the Trustee may, from time to time, release from
the lien of this indenture and said lease, any part of the
mortgaged premises; p ro v id e d the same shall no longer
be of use, and that no part of the track shall be re
leased if thereby the continuity of the railroads hereby
mortgaged shall be broken. No property, also, shall be re
leased unless to be sold or exchanged for other property.
The proceeds of sale shall be applied to the purchase of other
property or in improvements upon the mortgaged premises
or to the purchase of equipment for use thereon, or to the
purchase of bonds issued hereunder, or of such securities as
are authorized by law in the State of New York for the in
vestment of trust funds. Any securities so purchased and
all new property acquired in place of property released shall
be held for further security hereunder.
TRUSTEE TO ACT ON REQUEST OF 25 PER CENT OF BONDS
Upon the written request of the
holders of 25 per cent in amount of the bonds hereby secured,
then outstanding, in case of any default as aforesaid, it shall
be the duty of the Trustee, upon being properly indemnified,
to take all needful steps for the protection of the bondhold
ers, or to exercise the powers of entry and sale herein con
ferred, or to commence appropriate judicial proceedings by
action, suit or otherwise, as the Trustee shall deem most ex
pedient in the interest of the holders of the bonds hereby
secured.
A r t ic l e T h i r t e e n t h .
RIGHT OF HOLDERS OF 75 PER CENT OF BONDS TO DIRECT
TRUSTEE’S ACTION.
The holders of 75 per cent in amount of the bonds hereby
secured and outstanding shall have the right from time to
time, if they so elect, by an instrument in writing, to direct
and control the method and place of conducting all pro
ceedings for any sale of the premises, or for the foreclosure
of thie indenture, or for the appointment of a receiver, or
any other action or proceeding hereunder.
NO SUIT B Y BONDHOLDERS PERMITTED WITHOUT PRIOD
REQUEST AND INDEMNITY TO TRUSTEE.
A r t ic l e F o u r t e e n t h .— N o holder of any bond or coupon
shall have any right to institute suit for the appointment oi
a receiver, or for any other remedy under this indenture,
unless the holders of 25 per cent in amount of the bonds
shall have made written request upon the Trustee and shall
have afforded to it reasonable opportunity to proceed itself
to exercise the powers herein before granted; it being in
tended that all proceedings hereunder shall be instituted in
the manner herein provided and for the equal benefit of all
holders of outstanding bonds and coupons.
REMOVAL AND APPOINTMENT OF TRUSTEE.
A r t ic l e F i f t e e n t h . - The Trustee may be removed at any
time by an instrument in writing under the hands of threefo u r t h s in amount of the holders of the bonds hereby se
cured and then outstanding; but only with the written con
sent of the Illinois Central Company.
In case at any time the Trustee shall resign or be removed
or become incapable of acting, a successor or successors
may be appointed by the holders of a m a jo ri y in amount of
the bonds hereby secured then outstanding.
The Illinois
Central Company, however, by its board of directors, may
appoint a Trustee to fill such vacancy until a new Trustee
shall be appointed by the bondholders. Every Trustee shall
be a trust company in good standing doing business in the
city of New York.
PREAMBLE.—LEASE OF OCT. 1. 1895, AND MORTGAGE
JAN. 1, 1896.
OF
W h e r e a s , the Terre Haute Company on Oct. 1, 1895, did
lease unto the Illinois Central Company the railroads of the
Terre Haute Company and its lessor companies for ninetynine years; and the Illinois Central Company, by mortgage
dated Jan. 1, 1896, did transfer unto the Trustee said lease
hold property as security for $15,000,000 bonds, of which
$5,000,000, bearing 3 per cent interest, were to be issued for
the purpose of funding the rent payable under said lease of
Oct. 1, 1895, and $10,000,000 bearing interest at not exceed
ing 4 per cent per annum, to be reserved for the purpose o f
taking up certain underlying liens and providing funds for
the acquisition of additional interests in said properties, and
for additions, improvements, betterments and equipment
therefor;
DEPOSIT OF SHARES OF BELLEVILLE & SOUTHERN ILLINOIS
RAILROAD AND TERRE HAUTE COMPANIES.
A n d w h e r e a s , all of the shares of the preferred capital
stock of the Belleville & Southern Illinois RR. Co. have been
deposited with the Trustee under said mortgage of Jan. 1,
1896, entitling the holders to $2,040,000 par value of the said
3 per cent bonds; and in like manner 33,907 shares of the
[34,708 shares] capital stock of the Terre Haute Company
have been deposited entitling the holders thereof in the
aggregate to $2,543,025 of said 3 per cent bonds, for all which
said bonds interim certificates have been issued; and there
have been delivered to the Illinois Central Company interim
certificates for $356,900 par value of the first issue of $5,000,000 of said 3 per cent bonds;
ACQUISITION IN FEE OF LEASED LINES BY TERRE HAUTE CO*
A nd w h e r e a s , the Terre Haute Company has duly ac
quired and now is the owner in fee simple of the railways,
properties and franchises of the railroad companies men
tioned in said lease of Oct. 1, 1895, and has assumed their
bonds as below shown [of which bonds there have been ac
quired and pledged with the trustee of this indenture to
Jan. 1,1898, the amounts here indicated on the authority of
official information. —E d .] and has also issued its own bonds
as below:
Total o f
Deposited
Leased lines acquired in f e e and1 all bonds hereund er
bonds assumed.
issued.
to Jan.,’98.
Belleville & Southern Illinois RR.
1st M
........................................... $998,000
$998,000
Belleville & Eldorado RR. I s t M
7s of 1880, due 1910................... .220,000
117.000
Second mtg. 6s of 1880, due 1920l 310,000
330.000
Belleville & CarondeletRR. 1st 11.
6s of 1 83 3 ,due 1923......................
435,000
St. Louis Southern RR. Co. 1st M
4s of 1886, due 1931.......................’ 550,000
Second mtg. income 5s of 1886,
due 1931....................................... ’
122,000
116,000
Consol, mtg. of 1894, due 1939..
403,000
40 ¡,000
Carbondale & Shawneetown 1st M.
4s of 1887, due 1932 .....................
250,000
Chicago St Louis & Paducah 1st M.
5s of 1387, due 1897...................... ’ 1,000,000
1,000,000
Second mtg. incomes of 1837,
due 1917...................................... ’ 1,000,000
999,000
le r r e H aute Company bonds.
St. Louis Alton & Terre Haute 1stt
M. 5s of 1894, due June 1, 1898;
loan for $2,500,000, but called
for payment at 105, making___ 1 2,625,000
231,000
Not de
p osited
Jan. 1,’9 8.
None.
$103, OOO
None.
485,000
550,000
6,010
None.
250,000
None.
1,000
IT.........
Total (of which the firs t mtg
’$7,983,000
H.........
IT.........
ITThe amounts of eicli loan deposited and not deposited on Jan. 1
1893. has been supplied, not, of course, being m the mortgage itself.
Tt will be observed that the Terre Haute Company’s bonds have
been callel for payment June 1, 1898, when they will be pledged as
part security for this mortgage, reducing the underlyin’? bonds to an
insignificant amount. Already the loan is au absolute first lien on the
portions of the main line between Belleville and Duquoin, 56 miles,
and Marion and the Paducah bridge, 54 miles; while from June first
its first lien will embrace also the 14 miles into East St. Louis and the
terminal property therein. E d .
PURPOSES
OF THIS
MORTGAGE
AND
LOAN.
the Terre Haute Company intends by
these presents to provide for the funding of all its indebted
ness, issued and assumed as above shown, and to secure the
bonds representing the rental obligation as aforesaid;
A n d w h e r e a s , the Illinois Central Company, in order to
protect said leasehold interests, and to reduce its rental
A nd
w h ereas,
THE CHRONICLE.
J anuary 15, 18V8.J
139
<fe Carondelet RR.—
f M iles.
charge and to enable it to possess said railroads more ad Belleville
Belleville, via East Carondelet, to Mississippi River, oppo
vantageously, has agreed to issue $10,000,0«0 gold bonds bear
site South St. Louis................. .....................................................
17-30
ing 3^} per cent interest, due July 1, 1951. which bonds are St. Louis Southern RR.—
Pinckney ville. Perry County, to Carbondale, Jackson Co y. ? 3 0 * 0 0
to evidence the loan or advance of said amount to the Terre
Branch to Murphysboro...................................................................>
Haute Company, repayable at the maturity of said bonds Carbondale
<te Shawneetown RR.—
__
Carbondale, Jackson County, to Marion, Williamson Co’y ..
17-oO
and are to be used only for the purposes hereinafter pro
Chicago
St.
Louis
&
Paducah
Ry.—
vided;
.
.
,, , ,
Marion, Williamson County, to Brooklyn, Massac County...
53*50
A n d w h e r e a s , none of the bonds authorized by said deed
of trust and mortgage of January 1,1896, have been issued,
Total
about......................................................................................
239-30
but only interim certificates therefor, and in lieu of the form
mentioned in said deed of trust, the bonds are to be sub
1f S u p p l i e d ; n o t i n m o r t g a g e .
stantially of the form and of the tenor and purport follow
And all other property now owned or hereafter acquired
ing, viz:
by the Terre Haute Company in connection with said lines,
FORM OF BONDS.
including all
No.........
IL L IN O IS
St.
Louis
D
CENTRAL
iv is io n
& T
R A IL R O A D
e r m in a l
F
ir s t
M
COM PANY.
ortgage
G
old
B
ond
.
B r a n c h e s , a d d it io n s , s id in g s , s w itc h e s a n d tu r n o u ts .
L a n d s , b r id g e s , r ig h t s o f w a y , b u ild in g s , w a r e h o u s e s , e le v a t o r s , e t o .
C o r p o r a t e r ig h t s , p r iv ile g e s a n d fr a n c h is e s .
Rolling stock, equipment, apparatus and personal property.
The I l l i n o i s C e n t r a l RR. C o ., for value received, hereby promises
T o lls , e a r n in g s , in o o m e , is s u e s a n d p r o fits .
to pay to the bearer, or, if registered, to the registered holder of this
THE LEASE AND ALL RIGHTS OF ILLINOIS CENTRAL THERE
bond,
dollars ($
), in gold coin of the United 8tates
UNDER TO BE SUBJECT TO THIS MORTGAGE.
of America of or equal to the present standard of weight and fineness
And the I l l in o is C e n t r a l RR. Co , in consideration of
on the first day of July, in the year 1951, in the city of New York, and
to pay interest thereon at the rate of
per cent per annum* the premises, etc., hereby grants unto the Trustee the leases
in like gold coin, in said city, semi-annually on the first days of Jan and leasehold property of the Illinois Central Company of
uary and July in each year, upon presentation and surrender as they and to the said railroad properties.
severally mature of the interest coupons hereto annexed. The prin ALSO EAST ST. LOUIS TERMINALS AND PROPERTY ACQUIRED
cipal and interest of this bond are payable without deduction for
W ITH THESE BONDS, ETC.
United States, State, municipal or other taxes in the United States.
T o g e t h e r w i t h all the title or property which the Illinois
This bond is one of a series known as the St. Louis Division & Ter Central Company may acquire by virtue of the said lease or
minal First Mortgage Gold Bonds of the Illinois Central RR. Co., to by means of the bonds issued hereunder, including the ter
an amount not exceeding in the aggregate the sum of $15,000,000 at minal properties at East St. Louis conveyed to the Trustee
any one time outstanding, of which $5,000,000 par value bear interest by the said Illinois Central Company and by Stuyvesant
at the rate of 3 per cent per annum and $10,000,000 par value bear Fish, trustee, by deeds, dated Sept. 15, 1897.
interest at the rate of 3 ^ per cent per annum, which bonds are issued
Also all the bonds of said leased lines delivered to the
and to be issued under and in pursuance of and to be equally secured Trustee in exchange for bonds to be issued hereunder; and
by a mortgage and deed of trust dated Jan. 1st, 1896, executed by all the interest of the Illinois Central Company in any rail
said Illinois Central RR. Co., of the first part; the United States Trust ways or other additions to any of said leased lines and im
Co. of New York, as Trustee, of the second part, and the St. Louis Al provements and betterments thereof, and additional equip
ton & Terre Haute RR Co. and the Belleville & Southern Illinois RR* ment therefor, which shall be acquired by the use of any of
Co., of the third part, and by a supplemental mortgage and deed of the bonds secured hereby.
trust dated Sept. 15,1897, to said Trustee, to which mortgages and
RELATION
OF THIS
MORTGAGE
TO
MORTGAGE
OF
deeds of trust reference is made for a description of the property and
JAN. 1, 1896.
franchises mortgaged and the nature and extent of the security and
This indenture is supplemental to the indenture of Jan. 1,
the rights of the holders of said bonis issued thereunder and seoured
1896, and is to control whenever the same subject matter is
thereby. This bond shall not become valid or obligatory for any pur
pose unless and until it shall have been authenticated by the certifi referred to by both.
DENOMINATION AND INTEREST RATE OF BONDS.
cate hereon endorsed of the said United States Trust Co. as Trustee.
The holder hereof may have the ownership of this bond registered on
A r t ic l e F ir s t .— Of said $15,000,000 bonds, $5,000,000,
the books of the Illinois Central RR. Co., such registry being noted on numbered 1 to 5,000 inclusive, shall be $1,000 each, and shall
the bond, after which no transfer shall be valid unless made on the bear 3 per cent interest, and the remainder, $10,000,000,
said books by the registered holder in person, or by his attorney duly shall bear 33^ per cent interest, and of these last 9,000, num
authorized, and noted on the bond, but the same may be discharged bered from 5,001 to 14,000 inclusive, shall be $1,000 each, and
from registry by being in like manner transferred to bearer, after 2,000, numbered from 14,001 to 16,000, shall be $500 each.
which it shall be transferable by delivery. Or the holder hereof may The first coupon shall be payable Jan. 1, 1898, and repre
at any time surrender to said Railroad Company for cancellation afi sent interest from July 1,1897.
the coupons hereto annexed not then due, and have this bond entered
PURPOSES FOR W HICH THE BONDS M AY BE ISSUED.
on said Company’s books as a registered bond. The surrender and
A rticle S e c o n d . — The said $15,000,000 of bonds shall be
cancellation of the coupons shall be noted on the back hereof, after
delivered as follows:
'
*
which this bond shall cease to be transferable by delivery and become
New bonds.
a registered bond transferable only on the books of said Company, and Tne three (3) per cent bonds shall be issued in exchange,
dollar for dollar, for the aforesaid interim certificates,
the interest thereon semi-annually, and the principal thereof, when
representing funded rent............................................................$5,000,000
due, shall be payable only to the registered holder hereof, or his legal
Of the three and one-half (3*2 ) per cent bonds there shall be
representatives or assigns.
issued for the purchase, exchange or redemption of the
said $6,003,000 underlying f i r si mortgage bonds at a rate
I n w i t n e s s w h e r e o f , the Illinois Central RR. Co. has caused these
not exceeding $1,080 of new bonds for $1,000 of new
presents to be signed on its behalf by its President or one of its Vicebonds.............. ...................................................................... .......
6,500,000
Presidents, and its corporate seal to be hereunto affixed, attested by
Of the three and one-half (3 *) per cent bonds there shall
its Secretary or Assistant Secretary, and coupons for said interest with
also be issued to Illinois Central in exchange for certain
interim certificates heretofore issued forthe purpose of ac
the engraved signature of its Treasurer to be hereunto attached, this
quiring outstanding securities of said railroad properties,
first day of July, 1897.
and to construct or acquire extensions, branches or other
a iditions to said properties, and improvements and bet
FORM OF COUPON.
terments thereof, and additional equipment for use thereThe Illinois Central RR. Co. will pay to bearer in the city of New
on, s ibjeci to the lien of this indenture.................................. 3,500,000
York on the first day of
,
dollars in
ALL UNDERLYING CONSOLS AND SECOND MORTGAGE, AS
urnT r Aa DTOQT UfADTilAfi-F. RflMTVi TO RF, DISCHARGED.
gold coin, being six months’ interest then due on its St. Louis Division
& Terminal First Mortgage Gold Bond No.
The Illinois Central Company covenants that it will, out
Treasurer.
of the proceeds of said last-named $3,500,000 bonds, duly pay
and discharge all the remaining second mortgage or con
PROPERTY CONVEYED AS SECURITY.
solidated or income bonds not pledged under said mortgage.
Now, t h e r e f o r e , this indenture witnesseth: That for
COVENANTS.
the equal and proportionate security of all the bonds at
A r t ic l e T h i r d , E t c .— Among the numerous covenants
any time outstanding, and in consideration of one dollar
duly received, etc., the said S t . L o u is A l t o n & T e r r e H a u t e for the benefit of the bondholders are the following:
RR. Co. hereby conveys unto the Trustee all and singular
Bonds mutilated or destroyed may be replaced.
The Illiuois Oeutral Company will pay both principal and interest
the corporate property, rights, powers, privileges and fran- punctually
tax free (see bond).
.
cliises, including the right to bo a corporation of the Terre
All lawful taxes and assessments shall be paid when due.
Haute Company, in the State of Illinois, formerly held by
The Illinois Central Company will pay on presentation the principal
interest of all underlying first mortgage bonis above enumerated.
the companies below named, but now owned in fee by the and
It w ill a l s o perform all the covenants of the leases of Oct. 1 , 1 8 9 5 ,
Terre Haute Company, viz.:
r a il r o a d
l in e s
ow ned
and
co n veyed
.
Name o f fo r m er owner and description o f line.
St. Louis Alton & Terre Haute RR.—
. ,
. _
.
East Sc. Louis to Belleville, including the terminals at East
St. Louis............................................................................................
Belleville & Southern Illinois RR.—
Belleville, St. Clair County, to Duquoinr Perry County.........
Belleville & Eldorado RR —
.
_
Duquoin, Perry County, to Eldorado, Saline County..............
ITSupplied; not in mortgage.
HMiles'
14-40
56 40
50-20
^A n office or agency shall be maintained in New York for payment of
principal and interest and for registration of bonds (for provisions
touching registration, see bond above.)
.
Tne property shall be be keptpn repair and thoroughly equipped.
This mortgage sha 1 be kept a first lien.
r,.inruv lw law aha, i hft Tiaul within three months.
All Aluima° o'iuAi
D E F A U L T -R E L E A SE OF PROPERTY, TRUSTEES.
ARTTnT.Es F if t h t o F if t e e n t h .— The provisions of these
articles are the same as those contained in Articles Fifth to
Fifteenth respectively of the abstra ct of the Louisville Di
vision & Terminal mortgage which precedes.
THE CHRONICLE.
140
© a m m « m a l ¿pttues.
COMMERCIAL
EPITOME.
January 14,1S98.
* Business in general has been in a healthy condition. W ith
few exceptions merchants have reported a seasonable run of
orders and values realized have been in the main on a satis
factory basis. The advices received from Washington rela
tive to the progress of measures for currency reform have
‘been the subject of much discussion. The advices from
Havana of the rioting in that city drew increased attention
to the dipl >matic relations existing over the Cuban situa
tion but had no lasting influence. Interest in the proposed
annexation of Hawaii appears to be growing, and it is stated
that Hawaii’s President will journey to this country to aid
in a successful termination of the project. The election of
a United States Senator from the State of Ohio attracted
general attention through the bitterness of the contest.
2 Lard on the spot has had a moderately active sale, but
prices have weakened slightly in sympathy with the West,
closing at 5c. for prime Western, 4%c. for prime City and
5*15c. for refined for the Continent. The local market for
lard futures has been neglected, but at the West there has
•been a moderate speculation, and early in the week prices
■advanced slightly on the light receipts of swine. Subse
quently, however, selling by packers caused a decline. The
close was steady.
F r id a y N ig h t .
DAILY CLOSING PRICES OP LARD FUTURES.
Sat.
«fa y ..................................... o. 5*25
Mon.
Tues.
Wed.
Thun.
Fri.
[V o l .
l x t i.
COTTON.
F r i d a y N i g h t , January 14, 1898.
T h e M o v e m e n t o f t h e C r o p , as indicated by our telegrams
from the South to-night, is given below. For the week ending
this evening the total receipts have reached 271,472 bales,
against 30 *,273 bales last week and 308,158 bales the previous
week, making the total receipts since the 1st of Sept., 1897,
6,145,209 bales, against 5,271,631 bales for the same period of
Receipts at—
Sat.
Mon.
Tues.
Wed. T h u n .
Fri.
lo ia l.
Galveston......... 10,630 16,821 3,660 10,076 8,434 6,650 56,321
Tex. City, &c. ......
•
...... . . . . . .
1,214
1,214
New Orleans... 17,068 31,155 30,407 20,716 14,636 10 857 124,839
Mobile..............
2,802 2,614 1,382 3,130 1,357 1,028 12,343
Florida..............
...... ......
......
357
357
Savannah......... 3,146 3,815 6,341 4,220 2,488 4,639 24,649
Bruns w’k,&e.
5,328
5,328
Charleston.......
1,742 1,201
252 2,055 2,707 1,079
9,036
Pt. Royal, &o. . . . . . .
......
108
108
Wilmington....
661
641
415 1,056
641
397
3,814
Wash’ton, &c. ......
......
37
37
Norfolk............
2,190 3,233 2,943 1,625 1,194 1,623 12,808
N’p’t News, &o. .........
......
394
394
New York.......
918 1,115 1,030 1,191
940
872
6,096
Boston..............
907
438 2,020 1,537 1,093
839
6,834
Baltimore........
.........
......
4,269
4,268
Philadel’a, &o..
469
350
442
458
504
803
3,026
Tot. this week 40,563 61,416! 48,B92 46,064 33,976 40.561 271,472
5 15
5 15
5-20 5-12
5-15
The following shows the week’s total receipts, the total since
I Pork has been in moderately active demand and steady, Sept. 1,1897, and the stock to-night, compared with last year*
closing at $8 75@$9 25 for mess, $10 25@$12 25 for family and
1897-98.
1896-97.
$9 75@$10 75 for shor clear. Cut meats have been in active Receipts to
Stock.
demand for pickled bellies and at firm prices, closing at
This Since Sep. This Since Sep.
Jan. 14.
1898.
1897.
5^8@5V£c. for pickled bellies, 12 @ 10 pounds average,
week.
1 ,18 9 7.
week.
1 ,18 9 6.
4%@5c. for pickled shoulders and 6%@7%c. for pickled hams.
Beef has had only a limited sale, but values have held steady, Galveston... 56,321 1,488,239 33,929 1,116,062 227,184 160,266
59,871
3,684
74,353
6,299
closing at $8(5$8 50 for mess, $9@$9 50 for packet, $fG@$U 50 Tex. C.,&c. 1,214
for family and $16@$17 for extra India mess. Beef hams New Orleans 124,839 1,766,975 50,232 1,590,564 529,883 402,406
69,015
36,622
■have advanced, closing at $23 0i)@$24 00. Tallow has been Mobile......... 12,343 257,767 6,775 215,496
357
69,851
6,272
62,990
steady, sales having been made at 3%c. and 3 13 16c. Oleo Florida.........
stearine has been quiet at 434 c . for City. Lard stearine has Savannah... 24,649 914,726 12,547 652,470 132,898
81,139
been quiet and easier, closing at 5%c. for prime City. Cot Br’ wick,&o. 5,328 159,547 2,598 125,400
12,854
12,037
ton seed oil has advanced, closing at 23c. for prime yellow. Charleston.. 9,036 381,465 6,705 330,256
46,480
38,591
108
50,296
Butter has been quiet and easier, closing at 14@20c. for P. Royal,&o.
8
58,423
creamery. Cheese has been moderately active and steady, Wilmington. 3,814 280,250 4,127 214,929
22,046
21,364
37
closing at 6 % a 9 % c . for State factory, full cream. Fresh Wash’n, &c.
980
28
753
eggs have been about steady, closing at 21c. for choice Norfolk....... 12,808 450,540 11,028 595,733
86,642
37,280
Western.
394
N'portN.,&o
11,508
375
12,778
955
1,981
The Brazil grades of coffee have had only a small sale and New York... 6,096
51,799
3,463
38,149 138,779 290,902
the market has been easier. The feature has been a reduc Boston......... 6,834 118,930 6,567 114,969
51,000
33,000
tion of % c . per pound in the price of package coffee. The Baltimore. . 4,268
37,390
2,048
40,670
25,457
27,415
quotation for Rio No. 7 on the spot has been lowered % c . to Philadel, &o. 3,026
45,075
1,455
27,637
13,063
10,518
634c. The mild grades have had only a limited sale, but
Totals....... 271.472 6,145,209 151,84l|5,271,63l 1,356,256 1,159,820
values have been unchanged and fairly steady at b^c. for
fair Cucuta. The East India growths have been moderately
In order that comparison may be made with other years.
active and firmer, closing at 24c for standard Java. The we give below the totals at leading ports for six seasons.
speculation in the market for contracts has been quiet and
1897.
1896.
1895.
1894.
prices have weakened slightly under the continued heavy Receipts at— 1898.
1893.
movement of the Brazil crop and the large supplies in sight. Galves’n,&o. 57,535 37,613 21,944 50,953 22,983
20,132
The close was firmer.
New Orleans 124,839
50,232
39,158
69,648
50,701
50,018
Following are final asking prices.
Mobile..........
12,343
6,775
8,021
...................... 5-55o. I April..................5 85 o. l July..................... 6 00o.
...........
5'70o. May....................5 -90c. I Aug.................... 6-05o.
March................ , 5'80o. 1June.................. 5-95o. |Sept......... ........... 6-10o.
Savannah...
Chas’ton, &c.
Wilm’ton, &c
Norfolk........
N. News, &e.
All others...
24,649
9,144
3,951
12,808
394
25,909
12,547
6,713
4,155
11,028
375
22,403
12,813
7,007
3,728
13,139
2,726
11,301
5,938
16,190
16,342
4,195
11,469
7,815
27,256
6,551
24,638
7,119
6,562
12,364
6,055
22,944
2,571
10,206
2,167
1,043
3,853
2,803
8,944
Raw sugars have been quiet, and the close was slightly
lower at 434c. for centrifugals, 96-deg. test, and 3%c. for
muscovado, 89 deg. test. Refined has been dull and un
changed, closing at 534c. for granulated. Molasses and
syrups have been steady. Rice has been firm. At the auc Tot. this wk. 271,472 151,841 119,837 209,806 159,917
101,737
tion sale of teas higher prices were paid.
Kentucky tobacco has been quiet but steady. Seed leaf Since Sept. 1 6145.209 5271,631 3799,825 5805,504 4642,692 3909,139
tobacco has been moderately active at unchanged prices.
xiic
lvl uiie weoH. euumg tiiis evening reacn a total
Sales for the week were 1.685 cases, as follows: 140 cases of 207,782 bales, of which 115,847 were to Great Britain, 17,318
1896 crop, New England Havana, 17@35c.; 120 cases 1896 to France and 74,617 to the rest of the Continent. Below
crop, New England seed leaf, 2 ^ @ 3 0 c.; 600 cases 1896 crop are the exports for the week and since Sept. 1, 1897.
Wisconsin Havana, ll@13c.; 300 cases 1893-94 crops, Pennsyl
Week Ending Jan. 14,1898. From Sept. 1,1897, to Jan. 14,1898.
vania seed leaf, 13@13%c.; 150 cases 1895 crop, Pennsylvania
Exported to—
_____
Exported to—
Exports
Havana, 1334c.; 130 cases 1895 crop, Zimmers, 16@17c.; 100
from—
Great
-cases 1896 crop, flats, 15@ 16c., and 145 cases 1894-95 crops,
France Conti Total Great France Conti
Total.
Brit’n.
nent. Week. Britain.
nent.
(^-ebhardts, ll@1234c.; also 550 bales Havana at 70c. to $110
Galveston...... 19,018
9,351 28,36- 564,007 214,089 261,679 1,039,775
in bond and 200 bales Sumatra at 95c. to $1 75 in bond.
943
943
Business in the market for Straits tin has been more active
and prices have advanced in response to stronger foreign New Orleans.. 56,840 14,895 12,755 84,490 535,800 258,614 372,749 1,167,163
10,127
400 10,527
69 111
.advices, closing at 13-85@13-90c. Ingot copper has been fairly
Pensacola......
41.33H
24,618 65,984
active at steady prices, closing at He. for Lake. Lead has Savannah.......
26,683 26,683
54,233 28,759 426,520 509,512
had only a moderate sale, but values have held steady at Brunswick....
93,060
34,935 127,995
8-70@3-7234c. for domestic. Spelter has advanced, closing Charleston.... 1,498
1,498
76,140
102,877 179,017
at 3-90@4*00c. for domestic. Pig iron has been fairly active Port Royal....
37,038
8,000
45,038
but prices have been barely maintained, closing at $9 75® Wilmington...
8,063 8,063 108,586
139,523 248,109
$12 00 for domestic.
Norfolk..........
44,196
16,244
60,440
Refined petroleum has been moderately active, closing at N’port N., &c..
4,798
345
5,143
5’40c. in bbls., 2-90c. in bulk and 5 90c. in cases; naphtha New York...... 6,719 2,423 6,310 15,452 139,729 26,765 103,068 269,562
4.AAAV
12,251
419 12,670 IS8,884
quiet at 5-50c. Crude certificates have been steady; credit
6,359 14,897
52,891 1,988
55,678 110,557
balances have been unchanged at 65c. Spirits turpentine has Baltimore.... 8,538
630
60
690
8,671
1,250
9,921
advanced, closing firm at 3434@34^c. Rosins have been Philadelphia..
226
3,274 3,500
272
58,333
58,605
dull and unchanged at $1 40@$l 45 for common and good San Fran., &c.
Total.......... 115,847 17,818 74,617 207,782 1,968,752 530,215 1,645,262 4,144 229
strained. Hops have been moderately active and steady.
Wool has been in fair demand and firm.
Total, 1896-97. 129,779 39,969 59,300 229,048 2.125,129 461,42f< 1.262.797 3.849,354
141
THE CHRONICLE
J anuary 15, 18V8 J
In addition to above exports, our telegrams to-night also
The Sales and P rices of F utures at New Y ork, are
give us the following amounts of cotton on shipboard, not shown in the follow ing comprehensive table.
cleared, at the ports named. We add similar figures for
New York, which are prepared for our special use by Messrs.
ft
a
Lambert & Barrows, Produce Exchange Building.
-t
oSEg
1
fast
QB
©
©
O
B
a» © ©Ä
*qaoS.
*
L. VÍ ® 88
«•
©
S '® ® Pi
C® 0
ON SHIPBOARD, NOT CLEARED FOR—
P OB'* j»
P OB^
P OB* _
P
«4
oPn
L ea vin g
•FwSh
» £■: »äg
- P S-5-«
Coast
stock.
Other
Great
Jan. 14 at
£gP
Total.
P.&89
B ritain. F rance. Foreign wise.
2 ff
Ê
-®
îï: p as ••
64,825
g
: 00 • a
3,136
465,058
New Orleans... 18,874 13,559 29,256
5:
©© 0 :
§
75,729
151,455
*5. >
Galveston......... 22,598 20,399 20,713 12,019
©©
a,
Savannah.........
Charleston.......
Norfolk..............
New York.........
Other ports___
2,000
8,000
7,000
15.000
2,400
26.000
None.
None.
None.
None.
2,000
None.
1,000
1,000
19,600
15.000
4,000
30.000
1,000
1,000
None.
10,000
None.
None.
Total 1 8 9 8 ... 112,072
35,958 110,369 27,155
Total 1 8 9 7 ... 104,259
Total 1 8 9 6 ...
83,218
29,760
10,645
4,000
10,000
26,600
40.000
8,400
56.000
128,89-1
36,480
42,415
46,642
130,379
69,375
213,240
193,538
1 on. Good Ordinary...............c.
n , 6 on. Good Middling Tinged. . .
% on. Strict Middling Stained..
*4. on. Middling Stained..............
s1(5 off. Strict Low Mid. Stained,
7, 6 off. Low Middling Stained...
7s off.
1% oflEven732|pfl.
7, e off.
lis off.
l®8 0 ff.
On this basis the official prices for a few of the grades for
the past week—Jan. 8 to Jan. 14—would be as follows.
u pland s.
M on Tues W ed
S a t.
4U lf
5 »a
515le
63ie
6%
Middling Fair“ ............................
411»
5»fi
5i5ie
68ie
65g
41516
5%
6 3ie
6b 6
678
Middling Fair“ ............................
S a t.
STAINED.
Good Middling Tinged..............
415,6
5%
415,0 415,0
5%
5%
63le 6 3,0
67ie 67ie
67g
678
67i6
678
M on Tues W ed
46] 6 4516
5»s
5ifi
5»fl
523« 523s. 52%
515,0
515,0
515,6
5ifi
523 «
515,,
4
4 (
©O
I d«*
45s
57,0
5 7e
618
69,6
HOO®
C
R
>OS no
00oc
®
to
CnülOÜI
MCD
w~o
o
Total..
wo» ►
OlOi
-q-j
4 4
to toCD'S
I di®.
l»»CöI di
380
CJ.W ^
<1 -4 no
0000
1X00
oiwooi
oc
O» Üi O ÜT
il» If»Hg
I d.*®;
to
, CPOCH
“'l
ran
QDOtO'g
CJ»Cfl©Ot
4 4 ° 4
aiai
00©
I di
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fcOMtO^
-i-i
DO)
i örto
00cd
1«Í
CJCJ ^
aid ►
I é . CD•
*4
df
CDCDCJi'g
g X
n»to *3
CD I
CTiCTt
00 00
00 <1
obob
01cn
I <
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"00
CJCJ
ne
I
I9 «;
M
0»0»©Cfl aiaiooi
abab® ob abab®db .
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01o*
CnCJ»
I ö i 5;
I d.»»r
d ü io o i
d a i 001
CD
1$
o»o» O CJ» CP • i
nñnñ^ rñ
►
CJICJI
Oi Ol
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1 Q»
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00w00 côob°ob côob°db o0b00
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4
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CJIG3
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tOKtOg
cioob
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I d®;
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CCX
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I d.Mf
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aiaiooi OiChC CJ«
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»8aio>oai
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aiaiooi
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a<oi©w
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aiaiooi
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toto
ol ai 5 ©cji
° © to
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0
9
4 4 » ® ca_ 3
1 d.M:
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if» 020^0
if»Ci
ai ai ©ai
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I d„H
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0 10 1 0
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ai ai
4 ©©
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ton» CO
4%
57,0
52182
578
ϩ
05^ ®
Id ;
©
aiaiooi
©©®
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4 0)
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ó^-ó1-»° óo
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©© ;
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<«^if»3 ®®î®®
d.w: I d®:
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to
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ai©ocji
© © ® ©
©O®
if»
©©® ©
w-4 ai
ai ai
©ai
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coco
©©
to>^-
aiaiooi aiaiooi
ai ai
cn ©© ¿T
I d.M:
I dJf*-;
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cjiai ^ ©w 5, aia» 5,
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©©tí® ©°^® 18-© 3
i di®:
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ai ai ^
Total.
Sales o f
Futures.
200
35
615
311
300
*19
22,100
79,700
120,100
107,200
146,300
84,100
200
700
1,280
559,500
Ï9
—
ai
5
30Ó
100
300
!
:
to
II
cèco
©©
Id
I di
II
Id
Id
II
II
>
<
©
►
1 1 "i
1
^. ©
1
:
11
i>
%
O
XJ
1
?
►
11 «
10 : ®
>
*1
«
1ö : ?
* Includes sales in September, for September, 84,900; septemberOotober, for October, 375,2«» ; September-November, for November.
318,10b; September-December, for December, 1,181,400.
The following exchanges have been made during the week:
Con- Spec- Con
sump. ul'Vn tract.
35
315
11
aicnooi
OlOl
CDCD <K
SALES OF SPOT AND CONTRACT.
Steady.».............
Quiet & steady.
Q iet & steady.
Dull.....................
Dull.....................
Steady at 1 ,0 do.
<8
auno
OÒOD®-q
0 0
©
44®
4to as
-J
r *oi
CDCD
5l5lf
ad
OiO>©01 ©
4 78
5H,e
6»8
63s
6 l3,0
52335
OlOl
IÖ
O' CH
415»
5%
63,0
67,6
6 78
45,8
5ifi
0 0 CD 2 » *
CKC7»OCJ» CiCjQÖ*
Th.
MARKET AND SALES.
Bat’day..
Monday.
Tuesday
Wed’day
Th’day..
Friday..
00
F r i.
1 8 7 4 ... . c.1678
1 8 8 2 .. ..C.12
1 8 9 0 .. ..C.107,e
1 8 9 8 ....c. 5 78
1881.. --.-1115,0 1873.........20*3
1897......... 75i6 1889.. . . . . 9 78
1872........217a
1880.. .. . . 1 2 78
1888.. ....lO ifi
1896......... 8 si6
1871.........1538
1879.. . . . . 95,0
1 887.. . . . . 9ifl
1895......... 5%
1870.........25j4
1 878.. . . . . l i b
1 886.. ___ 95,0
1894......... 8%
1869.........29%
1 877.. ....1318
1 885.. . . . . l i l l e
189 3 .......... 9^8
1868.........16Lj
1892......... 7» 6 1 884.. ....1 0 11 ,6 1 876.. ....1 3
1867.........34
1 875.. ....1 5 10
1 883.. ....1 0 3 ,0
1891......... 9*a
N o t e —On Oct. 1 ,1 8 7 4 , grades of cotton as quoted were changed.
According to the new classification Middling was on that day quoted
3gc. lower than Middling of the old classification.
Ex
p ort.
I Ol.
I
tO CDr-*
The quotations for middling upland at New York on
Jan. 14 for each of the past 32 years have been as-follows.
SPOT MARKET
CLOSED.
IaX A*co
O©
cc-q
H
Sf CJ1<1SO
P*
►
►
wo» •►
3 cjiq» < OlOl
< <? 1 <
«?l1
-©o
4-à Sf ÁÁ
(fi
(fi <1 (fi ob
00CD o*T OM (fi
H
©
1
1§
1« r ; 1 »
1 <§>
I®
CDCD
F r i.
Th.
411» 4 1 1 ,0
5!fi
5»fi
5»fi
515.0 515,0 5i°ie
63,0
63.0 63,e
65s
65a
65s
M on Tues W ed
S a t.
GULF.
ch
946,580
855,880
w
®£*®®
to ^ to 0
0
so $ ® ¡ 2.
|_lCb
© CO©
<j2 p, 050
*4©Of* *p4*050^ geS
>• ? ©© • ¿®
-S'©®
*
©
«'
»A
08
to
w
w
> on01 ► OiC*
0*01
enw ^
OiCJi
Ss
to
P< M®
«4 WOl-J
• ¿O *
285,554 1,070,702
67,585 11,636
72,207 17,468
Speculation in cotton for future delivery has been slightly
more active, but it has been at the expense of values. The
feature of the market has been the unprecedentedly large
movement of the crop for the season of the year, and despite
the fact that the takings of cotton for actual consumption
have continued fairly large, the weight of the actual cotton
has been felt, and advices from some sections of the South
have reported easier markets, and have been accompanied by
lower offers. The foreign markets have weakened some
what as a consequence of the heavy crop movement and under
freer offerings from the South. The local market has also
been easier, as the large
supplies
coming into
sight have prompted liquidation by tired holders.
A development that attracted considerable attention during
the latter part of the week was the shrinkage in the demand
from outsiders for investment account, the movement of the
crop being sufficiently large, apparently, to check this de
mand despite the lowness of prices now ruling. It has been
this latter fact that has kept regular traders from selling the
market, as they generally have been bearish in their views,
but owing to the low prices have been reluctant to pursue
an aggressive policy. To-day the market advanced early in
response to stronger foreign advices than expected and buy
ing against spot sales made at the South. Subsequently,
however, the demand subsided and part of the improvement
was lost, closing steady with prices 2 to 3 points higher for
the day. The spot market has been dull and to-day prices
declined l-16c., closing at 5^c. for middling uplands.
The rates on and off middling, as established Nov. 17,1897,
by the Revision Committee, at which grades other than
middling may be delivered on contract, are as follows.
Fair....................................o.
Middling Fair.....................
Strict Good Middling.. . . .
Good Middling...................
Strict Low Middling.........
Low Middling.....................
Strict Good Ordinary.......
o>
•12 pd. to exch. 100 May for Aug.
•08 pd. to exeb. 500 June for Aug.
•14 pd. to exeb. 200 Jan. for May.
•04 pd. to exch. 500 May for June.
•20 pd. to exeb. 1,800 Meh.for Aug.
■13 pd. to exch. 900 Jan. for May.
•04 pd. to exch. 300 July for Aug.
*21 pd. to exeb. 300 Mob. for Aug.
•05 pd. to exch. 500 Jan. for Mob.
•16 pd. to exeb. 200 Mob. for July.
•11 pd. to exch. 1,000 May for Aug.
•04 pd. to exeb. 600 Jan. for Mob.
525 pd. to exeb. 600 Jan- for Nov..
Even 500 Aug. for Oot.
■10 pd. to exeb. 100 May for Aug.
08 pd. to exeb. 4,400 Moh.for May.
•03 pd. to exeb. 100 Jaly for A ug/
•12 pd. to exeb. 500 Jan. for M ay..
•21 pd. to exeb. 2,300 Jan. for Ang.
•02 pd. to exon. 1.800 Aug. for Oot.
•15 pd. to exeb. 200 Feb. for June.
•» 4 pd. to exeb. 30f> Mob for July.
•11 pu. so exeh. 500 Jaa. for May.
04 pd- to exch. 200 Apr. for May.
Even 400 Jan. for Feb.«
3MEM,
THE CHK0N1CLE
142
T he; V is ib l e S u p p l y o p C o t t o n to night, as made up by
cable and telegraph is as follows. Continental stocks, as well
as those for Great Britain and the afloat are this week’s re
turns and consequently all European figures are brought down
to Thursday evening. But to make the total the complete
figures for to night (Jan. 14), we add the item of exports from
the United States including in it the exports of Friday only.
1898
18t>7
l» 9 6
1895.
Stock at Liverpool....... bales. 967,000 1,147,000 1,111,000 1,427,000
Stock at London.......................
3,000
7,000
6,000
6,000
Total Great Britain stock. 970,000 1,154,000 1,117,000 1,433,000
Stock at Hamburg...................
7,000
18,000
23,000
20,000
372,000
192,000
240,000 285,000
Stock at Bremen......................
Stock at Amsterdam...............
3,000
6,000
8,000
15,000
Stock at Rotterdam................
200
300
200
200
7,000
12,000
16,000
10,000
Stock at Antwerp.....................
Stock at Havre.......................... 285,000
202,000
305,000 467,000
Stock at Marseilles..................
4,000
5,000
6,000
6,000
Stock at Barcelona..................
68,000
52,000
72,000
72,000
Stock at Genoa..........................
24,000
43,000
48,000
24,000
Stock at Trieste........................
2,000
15,000
16,000
17,000
Total Continental stocks.
772,200
545,300 734,200 916,200
Total European stocks... 1,742,200 1,699,300 1,851,200 2,349,200
India ootton afloat for Europe
34,000
60,000 124,000
23,0C0
Amer. cotton afloat for Europe 595,000
628,000 372,000 776,0C0
Egypt,Brazil,&o.
.aflt.for E’pe
■P .
.
52,000
52,000
51,000
55.0C0
Stock in United States ports . 1,356,256 1,159,820 1,049,418 1,077,504
Stock in U. S. interior towns..
623,557 532,119 552,608 530 0 2 4
United States exports to-day.
40.816
33,848
64,7?6
3 4 )9 2 5
Total visible sunply.......... 4,443,829 4,165,087 4,065,002 4,845,653
Of the above, totals oi American and other descriptions are as follow s:
A m erican —
Liverpool stock............. bales. 852,000 997,000 9 25 ,0001 277 000
Continental stocks...................
737,000
469,000 664,000 810 000
Amerioan afloat for Europe.. 595,000 628,000
372,000 776 000
United States stock................. 1,356,256 1,159,820 1,049,418 1 0 7 7 5 0 4
United States interior stocks.
623,557 532,119 552 608 530 0 2 4
United States exports to-day.
40,816
33,848
64,776
3 4 )9 2 5
Totai American................. 4,204,629 3,819,787 3,627,802 0 0 5 .4 5 3
East In d ia n , B razil, die.—
Liverpool stock........................
115,000 150,000 186,000 150,000
London stock.............................
3,000
7,000
6,000
6,000
Continental stocks...................
35,200
76,300
70,200 106,200
India afloat for Europe..........
34,000
60,000 124,000
23.000
52,000
52,000
Egypt, Brazil, &c., afloat.......
51,000
55.000
Total East India, &o......... 239,200 345,300 437.200 3402ÖÖ
Total American................. 4,204,629 3,819,787 3,627,802 4 505)453
Tota! visible suppiy . . .
4,443.829 4,165,037 4,065,002 47845,653
Middling Upland, Liverpool..
37s6d
4i«od
4iad.
3ii«,d
Middling Upland, New York.
5 7eo.
7Bi«c
831( c.
5%e
Egypt Good Brown, Liverpool
4716d.
5 i i ,hd.
e^d .
45sd
Peruv.Rough Good, Liverpool
67led.
651(>d.
538<j
6716d.
Broach Pine, Liverpool...........
35led,
33io2d,
451ed.
33j ad
Tinnevelly Good, Liverpool..
371Hd.
3313 rd.
414 6 ,
38lad
USF Imports into Continental ports past week 238,000 bales.
The above figures indicate bn increase in the cotton in eight
fco-night of 278.742 bales as compared with the same daft
of 1897, a gain of 378,827 bales over the corresponding date
of 1896 and a decrease of 401,824 bales from 18P5
A t the I nterior T owns the movement—that is the receipts
for the week and since September 1, the shipments for tie
week and the stocks to-night, and the same items tod the
corresponding period of 1896-97—-is set out in detail below.
a a
gg H M
&r g
S
O
& g g .g g g
-
feig
.(►»
a0
(0
05
wo
00 r 2
CO
^
M
Oi Q D ^ V l l o OC O CO OD O Ü l Ö <1
to
to
MC0Ü1
ZDZCC3to ^COJO^
oc to ^ IOM ^ COK
ODjCoVl'coto" ; MCOqoW©OD OQCC) <|Q D G f r b b h plW^VfiP C
<ioio:cp<icoocJux)^fco^<iotOK)occcoo!ocoS^o^^fe§toS
VjgoV MM <t * £?0
^ -^1 M CO 05 0<
l“4<^
IO G* >-* CO 00 Oi
;
< k * <i > M o t o p
l'ì'6
f4‘
53g
5 12
5 °ig
534
5^
5716
5*2
558
gw
57.6
5ia
57.6
57] 6
5ia
5ia
5 13
1^1
Ä-82
5?
a.
5 'i]g I Columbus,Miss
Eufaula.. . . . . . .
Little R o c k ....
I Montgomery...
Athens..............
A tlanta. . . . . . . .
Charlotte.........
Columbus. Ga.
539
533
5 14
p O tOCO00rJC0l^'^lb —‘CO—
ltO* CtOOCtOMOiOlf-COCOOS00if MUM
^C0 05—0-3 —OCO<ICS5-105CO: O*tOCOto—-q to totool C -3 t S m E
Ot0-3C0O05OWt0if-t0005DC0. 60if-©01 ©CC500>l»0 X-qOi-1® l£
P
W
© jq W C ö M b itO if »
M © W 0 0 -3 00 CO -3 M O Dif-CO
■ e go—a l —oi -3 —cololf-lilf-bi oo<j cnlaVla ©lali.lo i- bi m oils
: ©u>05-©tooicjie©©-3-ai-‘0-j©coiM-i<jotoS©it-co-öo5oo
tO 00 GO
*- CO © O Qi tO — O Qi O I—1 © O —J Oi
^ ^ qo O* tO ©
Last year’s figures are for Columbia, S. C.
6 3 ,8
6 is
5^°16
568
59]g
» 6
5JÌS
538
5ia
5ia
5ia
5 Ì9 6
5ia
5 1 ,0
514
4i518
551(S
Nashville.........
Natchez........ .
Raleigh............
Shreveport.....
514
511«
583
4 io18
Weefc
Receipts at the Ports. St’k at Interior Towns. Rec’ptsfrom Plant’nt.
1897-68 1896-97 1895.96 1897-68 1890-97 1895-96 1807-98 1896-97 1895-96
Dec. 10.......
17. ...
• 24.......
“
31. . . .
Jan. 7, ..
“
14
367,098
389,275
360,267
308,158
300,273
271,472
278,408
327,175
310,522
215,412
107,340
151,841
234,059
222,783
223,949
170,324
135,322
119.837
013,203
039,324
611,849
031,483
628,843
623.557
508,782
575,781
588,007
582,045
552,205
532.119
556,372
585,332
590,822
583,603
565,410
552,608
391,278
415,836
368.792
297.792
297,033
260,183
285,332
334,174
322,748
210,050
130,900
131,755
257,748
251,743
235,439
103,165
117.069
107,036
xne aDove statement snows: l.—That the total receipts
from the plantations since Sept. 1,1897, are 6,723.690 bales: in
1896-97 were 5,683,156 bales; in 1895-96 were 4,319,733 bales.
2-—That although the receipts at the outports the past week
were 271,472 bales, the actual movement from plantations was
266,186 bales, the balance being taken from stocks at interior
towns. Last year receipts from the plantations for the week
werq 131,755 bales and for 1896 they were 107,035 bales.
Ov e r l a n d
Movement for the W eek and Since Sept . 1.__
Since
Sept. 1
1896-97.
Week.
Since
Sept. 1.
545,991
224,736
17,227
33,077
69,243
67,331
88,303
11,162
6,987
246
200
4,402
2,413
3,178
192,421
9,788
11,810
96,268
85,572
63,766
66,090 1,045,908
28,588
818,936
20,224
231
1,308
13,533
37
1,153
221,424
2,532
21,718
253,194
18,825
19,960
Total to be deducted..... ........
21,763
291,979
14,723
245,674
Leaving total net overland*..
44,327
753,929
13.865
573.242
The foregoing shows that the week’s net overland movement
this year has been 44,327 bales, against 13,865 bales for the
week in 1897, and that for the season to date the aggregate net
overland exhibits an increase over a year ago of 1^0,687 bales.
1897-98.
Week.
Since
Sept. 1.
1896 97.
Week.
Since
Sept. 1.
Receipts at ports to Jan. 1 4 . . . . . . 271,472 6,145,209 151,841 5,271,631
Net overland to Jan. 14................. 44,327 753,929 13,865 573,242
louthern consumption to Jan. 14 23,000 440,000 22,000 405,000
tO M
Total marketed............. ........... 338,799 7,339,138 187,706 6,249,873
•nterior stocks in excess________ *5,286 578,481 *20,080 411,525
iCS3COOi|f-QOC«: tOOlf-tOlf-OOCOOti<OitOCOOOOO
Jf.
S 8
Receipts prom the P lantations .—The following table
indicates the actual movement each week from the plantations.
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
Anally reaches the market through the outports.
In Sight and Spinners’
Takings.
ts o if-if- tooci-i cotot- coOKI oi eoo» cote oi o<ib if- <->¡u w - j o-. s, ~ -j
©
512
51516
58a
Mg
CDÄ
O l ao GO 05p p CO GO ^ ^ p o i M O D O , t o p « l f - 0 5 < l ! - M t O ® M o i 5 5 o 5 ! ^
p p - j tO i- 1 co i f - 1» «C ( » t o V i a o i T r l j l a co « c lf -c o b i l a l j a ; od co^>> 'te "m
;
5 I48
57,6
The closing quotations to-day (Friday) at other important
Southern markets were as follows.
OHOOtO-qroOl tOtOIf-K. CJI-q H O O 01 lf-Ul O -4 O H C /t H 9 ju tOb3 o.
CO
514
514
59.6
53s
5 716
5 13
514
514
5%
57.6
5ia
516jg
5®s
63] g
Fri.
514
5 14
5 14
534
5^4
Thu n.
5ia
Total gross overland..............
Deduct shipm ents—
Overland to N. Y ., boston, &e.
Between interior towns............ .
Inland, <feo., from South..............
MMI—
1—*
C5Cto^-30kooi-'if-<ieo<ii-‘ cj>atwifi.coi^.tao5^03to m o co LS SS^ 22i5 505011
^ 00°* © wos *■cocoos oio cocu-3 ® So-3 w
M
Wednet.
»2*
iOt^t0Q0ܻ05'^t0r
P a GitoVV ioob tf^OH 00too
CO05CDVjOS
C7»^aMt0C0-JMCDC0^05CDßoG!-il3io2§
•odck- co‘co^ A
oc
~x j- * ‘cß05ü»C5tooo:^tf^r-*
p
59le
29,862
14,438
1,811
2,800
7,019
6,296
3,864
a
50 m
Tuet.
59ie
56.6
Shipped—
Via St. Louis..................................
Via Cairo........................... . . . . . . .
Via Parker.....................................
Via Rock Island..........................
Via Louisville...............................
Via Cincinnati.............................
Via other routes, &c........ ..........
if- to m tc
c o* ©*.<r -5
¿9* jfc tocot
Mon.
5ia
5518
5^
5%
5^4
5716
5*3
Week.
a
wa »
Galveston. .
New Orleans
Mobile.........
Savannah. .
Charleston..
Wilmington.
Norfolk.......
Boston.........
Baltimore...
Philadelphia
Augusta.......
Memphis___
St. Louis___
Houston. . . .
Cincinnati..
Louisville...
CLOSING QUOTATIONS FOB MIDDLING COTTON ON -
Batur.
►
taoifr.coca<po^ncifrcntoop«3CPbouoo«Mooooogoa)<icw” oDB»
m
Week ending
Jan. 14.
1897-98.
‘ CJ1 CO O K I co o H 1OI © to <J O o CO to 05
C
ask
Quotations for Middling Cotton at Other Markets .—
Below are closing quotations of middling cotton at Southern
and other principal ootton markets for each day of the week.
J a n u a ry 14.
O 05^la »To to w 9__
«sw-400cels o o ccTb.1*colels'if-csw*0 » 3
C 5 » tp C ib O O O K O O # '< l0 5 . _____ __
cd
than for the same time in 1896-97.
I
Q >
g w
. rw
2 rw
:- :- r
*
2 *
£ £
M SS w O OD
.► . 3 . 0
■ ao !
:
8
I
The above totals show that the interior stocks have
decreased during the week 5,286 bales, and are to-night 91 438
bales m ore than at the same period last year. The receipts at
all the towns have been 104,084 bales m ore than the same
week last year, and since Sept. 1 they are 879,406 bales m o re
We give below a statement showing the overland movement
for the week and since Sept. 1, as made np from telegraphic
reports Friday night. The results for the week ending
§ s | § g'S'S i'B £ è
SfSJ -
[V ol. LXVI
?p»» §
f*
it
Came into sight during week. 333,513
167,620
Total in sight Jan. 1 4 ............
7,917,619
6,661,398
SJArt.h’ n ^ninnerstak’es lo Jan.14
* Decrease during week.
56 294 1.366,386
31,562 1,028,042
It -viii oe seen ov the above that there has come into sight
during the week 333 513 bales, against 187 620 bales for the
same week of 1897, and that the increase in mount in sight
to-night as compared with last year is 1,256,221 bales.
Ja n u a r y
15, 18t 8, J
THE
W e a t h e r R e p o r t s b y T e l e g r a p h .— Telegraphic advices
to us this evening indicate that while rain has been quite
general at the South the past week, the precipitation has
been light except at points in Mississippi, Arkansas and Ten
nessee. Oar Galveston correspondent reports the weather as
beneficial to farming interests and states that preparations
for spring crops are under way. The cotton movement con
tinues liberal.
G a lveston , T e x a s.— The weather the past week has been
beneficial to farming interests, and planters are busy prepar
ing land for crops. There have been showers on five days
during the week, the rainfall reaching sixty-nine hundredths
of an inch. Average thermometer 60, highest 70, lowest 50.
C o rp v s C h risti, T exa s.— W e have had rain on three days
during the week, to the extent of nine hundredths of an inch.
Thermometer has averaged 66, highest ri 6, lowest 56.
P alestin e, T exa s.— There has been rain on one day during
the week, to the extent of seventy-four hundredths of an
inch. The thermometer has ranged from 38 to 76, aver
aging 57.
S a n A n to n io , T exa s. —There have been showers on two
days during the week, the precipitation reaching two hun
dredths of an inch. Minimum temperature 44.
N ew Orleans, L ou isia na . —Rain has fallen on four days of
the week, to the extent of seventy-nine hundredths of an inch.
Average thermometer 69.
S h reveport, L ou isia n a .— W e have had rain on three days
during the week, the precipitation reaching twenty-six hun
dredths of an inch. The thermometer has averaged 63, the
highest being 80 and the lowest 39.
C olum bus, M ississip pi. —Rain has fallen on three days of
the week, the precipitation being one inch and thirty-four
hundredths. The thermometer has averaged 66, ranging
from 45 to 85.
,
L d a n d , Mississippi. —Rainfall for the week sixty hun
dredths of an inch. The thermometer has ranged from 34
to 75, averaging 58’3.
.
Vicksburg, M is s is s ip p i— W e have had ram on six days of
the past week, the rainfall being one inch and fifty-four hun
dredths. Average thermometer 64, highest 80, lowest 46.
Greenville, M ississip p i.— The weather has been cloudy and
cool during the week, with heavy rainfall.
L ittle R o ck , A rk a n sa s.— It has rained on two days during
the week, with rainfall to the extent of one inch and eighty
hundredths. The thermometer has averaged 57, the highest
being 72 and the lowest 34.
H elen a, A rk a n sa s. —We have had rain on three days of the
week, the rainfall reaching two inches and seventy-seven
hundredths, and it is raining now. Tne rain interferes with
picking. Ihe thermometer has averaged 55-3, ranging from
36 to 68.
.
M M e ih :
M em ph is, Tennessee.— There has been ram on two days of
the past week, the precipitation reaching two inches and two
hundredths. The thermometer has ranged from 37 to 69’7,
averaging 58'5.
M obile, A la ba m a .— Rain has fallen on six days of the week,
the precipitation reaching sixty-six hundredths of an inch.
The thermometer has averaged 63, the highest being 72 and
the lowest 48.
.
M o n tg om ery, A la b a m a — It has rained on six days of the
week, to the extent of fifty-one hundredths of an inch. The
thermometer has averaged 65, ranging from 57 to 72.
Selm a, A la ba m a .— Rain has fallen on three days of the
week, to the extent of eighty-five hundredths of an inch.
Merchants claim that they are selling less fertilizers than
usual. The thermometer has ranged from 38 to 80, averagM a dison , F lorid a .— We have had rain on one day of the
week, the rainfall reaching ten hundredths of an inch. Aver
age thermometer 69, highest 84 and lowest 48.
Savannah, G eorgia . —There has been rain on two days
during the week, to the extent of two hundredths of an inch.
The thermometer has averaged 64, ranging from 43 to 79.
A u g u sta , G eorgia. —Rain has fallen on one day of the week,
to the extent of seventeen hundredths of an inch. The ther
mometer has ranged from 34 to 77, averaging 55.
_
Charleston, Sou th C a rolin a. —There has been no ram dur
ing the week. The thermometer has averaged 62, the highest
being 77 and the lowest 45.
.
Stateim rg, South C a rolin a, —We have had light rain on two
days of the week, the rainfall reaching three hundredths of
an inch. The thermometer has averaged 60*8, ranging from
43 to 73.
G reen w ood , Sou th C a rolin a.— There has been ram on one
day during the week, to the extent of five hundredths of an
inch. The thermometer has ranged from 51 to 67, averag
ing 59»
, „
,
„
W ilso n , N o rth C a rolin a .— W e have had ram on one day ot
the past week, the rainfall being forty-seven hundredths of
an inch. Average thermometer 53, highest 68, lowest 38.
The following statement we have also received by telegraph,
showing the height of the rivers at the points named at
8 o’olock January 13, 1898, and January 14, 1897.
IJan. 13, *98 ,'Jan. 14, »97.
New Orleans
Memphis... . .
NashviMe....,
Shreveport..
Vicksburg...
Above zero of gauge.
.Above zero of gauge.
.Above zero of gauge.
.Above zero of gauge.
.Above zero of gauge.
Feet.
4-4
63
24-9
1*2
9*3
143
CHRONICLE
Feet.
60
17'1
12*3
9*5
24*1
I n d i a C o t t o n M o v e m e n t f r o m a l l P o r t s . —The receipts
of cotton at Bombay and the shipments from all India ports
for the week ending Jan. 13, and for the season from Sept. 1
to Jan. 13 for three years have been as follows:
Week.
Bombay........... *30,000
Since
Sept. 1.
Since
Sept. 1.
Week.
209,000
36,000
Great
B ritain.
Bombay—
1897-98*.
18969 72,000
..
1895- 9 6 .. 6,000
Calcutta—
18979 8 ..
18969 71,000
..
1895- 9 6 ..
Madras—
1897- 9 8 ..
1896- 9 7 ..
1895-97..
All others—
1897-98..
1896-97..
1895-96..
Total all—
1897-98..
1896-97
1895-96..
.........
3,000
6.000
378.000
Week.
Since
Sept. 1.
61 ,uoO
647,000
Since September 1.
F or the Week.
Exports
fr o m —
1895-96.
1896-97.
1897-98.
Receipts at—
Conti
nent.
Great
B ritain .
Continent.
Total.
10,000
11,000
36,000
13.000
42.000
12,000
184,000
1,000
2,000
2,000
4.000
5.000
7.000
14.000
7.000
9 ,00 0
18,000
2.000
3.000
3.000
2.000
2.000
9,000
16,000
5.000
17.000
14.000
7,00026,000
80,000-
8,000
3,000
3,900
12,000
18,000
19.000
34.000
27.000
27.000
46.000
45.0 0 0
10,000
13.000
31.000
51.000
81,000
186,000
232,000
94,000
217,000
283,000-
10,000
10,000
44,000
5 1 ,0 0 9
127,000
196,000-
50.000
1,000
6,000
21,000
18,000
38,000
Total.
121,000
12,000
* Estimated; cable not received.
According to the foregoing Bombay appears to show a
compared with last year in the week’s receipts of
6.000 bales. Exports from all India ports record a loss of
11.000 bales during the week, and since September 1 show a
decrease of 123,000 bales.
decre ase
M a n c h e s t e r M a r k e t . —Our report received by cable
to-night from Manchester states that the market continues
quiet for yarns and steady for shirtings. Manufacturers are
generally complaining. We give the prices for to-day below
and leave those fcr previous weeks of this and last year for
comparison.
1896-97.
1897-98.
8*4 lbs. Shirt O otfn
8% lbs. Shirt O otfn
32s Oop. in gs, common Mid. 32s Oop. in gs, common M id.
Twist.
TTplds
to fin est.
a.
a. s.
Dc.10 5% ®678 4
“ 17 5Ui6- 613ie 4
“ 24 511,8-613,e 4
« 31 5**l«-6 8,8 4
Jau. 7 511,8*6% 4
“ 14 5ii,8®6% 4
d. a.
1 *6
1 *0
0*a-®6
0*3*6
0*3*6
0*3*6
Twist.
d.
d.
d.
8
ifie 6 *k *73s
7*a 33,8 6*3 * 75,8
3733 69,8 *738
8
8
3*4 6*3 *7%
8
3*4 6*3 *738
3739 6*3 *739
8
d.
to fin est.
a.
4
4
4
4
4
4
d. a.
3 *6
2 *6
2 *6
2 *6
1*3*6
1*3®6
Uplds
d.
d.
45?®
9
8*s 4he
8
4I33
4
8
7*3 4
7*3 41.03
S e a I s l a n d C o t t o n M o v e m e n t . —We have received this
(Friday) evening by telegraph from the various ports the
details of the Sea Island cotton movement for the week. Tb e
receipts for the week ending to-night (Jan. 14) and since
Sept, 1 , 1897, the stocks to-night, and the same items for the
corresponding periods of 1896-97, are as follows.______ _____^
1897-98.
R eceipts to Jan. 14.
1896-97.
Stock.
Since
This
Since
This
1888.
week. Sept. 1. week. Sept. 1.
1897.
Savannah..........................
Charleston, &o..................
Florida, &o.............. .........
1,822
262
420
49,240
8,980
4.869
1,672
111
556
73,492 25,801 27,354
9,786 5,763 6 ,1 0 »
5,057 2,475 3,561
Total.............................
2,504
63,089
2,339
88,335 34,039 37,023
1
The exports for the week ending this evening reach a tota
of 1,122 bales, of which 590 bales were to Great Britain, 3 2
to France and 500 to Bremen, and the amount forwarded to
Northern mills has been 1,902 bales. Below are the e ^ o r t s
for the week and since September 1 in 1897-98 and 1896-97.
Week E nding Jan. 14. Since Sept. 1, 1897.
Exports
from —
Savannah...
Uharlt’n.&c
Florida, &o.
New York..
Boston........
Phila., & c...
Total........
Total 189e-7
Great F r ’nce
Great F r’ nce
Total.
Total. B rit’n.
Ac.
B rit’n. Ac.
Rorth’n Mili s»
Week.
Since
8ept.X.
1,380 13,191
764
102
420 4,669-
8,200
2,276
1.725
2,247
52
1,967 10,167
2,276
1,725
i',355 3,602
52
532
1,122 14,500
3,322 17,822
1,902 18,624
450
1,388 25,256
6,660 31,916
1,150 22,34
500
500
540
*50
” *3 2
"* 8 2
590
938
"5 4 0
Quotations Jan. 14 at Savannah, for Floridas, common»
ll£c.; medium tine, 10c.; choice, ]3 ^ c.
.'L •
Charleston, Carolinas, medium fine, 15^ to lbc.; tine, i / c . r
•nllv fine. 19 to 20c.: extra fine. 26 to 33c.
J u t e B u t t s , B a g g i n g , & c . —The market for jute bagging
has continued quiet during the week under review at 4%u.
lbs., 5 l-16c. for 2 lbs. and 5}£c. for 2 % lbs. The
market for|jute butts has been firmer. Quotations are -75c
for'paper quality, lj^c. for mixing and
for spin* ning cuttings, to arrive.
144
A lexandria
THE CHRONICLE.
R eceipts
and
Shipments op
IV oli. L X V I.
C otton.—
Through arrangements we made with Messrs. Davis, Benachi
& Co., of Liverpoo and Alexandria, we now receive a weeklycable of the movements of cotton at Alexandria, Egypt. The
following are the receipts and shipments for the past week
and for the corresponding week of the previous two years.
N e w Orleans —To Liverpool—Jan. 7—Steamers Atala, 9,251;
Gallego, 5,000. ..Jan. 8 —Steamer Orion, 7 ,5 0 0 ... Jan. 11_
Steamers American, 21,250; William Cliffe, 5,289.......
Jan. 13—Steamer Capella, 6,000....... ................... ........... 5 4 290
To Manchester—Jan. 7—Steamer Capenor, 2,550.......... 2,550
To Havre—Jan. 7—Steamer Montrose, 10,445___ Jan. 13—
Steamer Spanish Prince, 4,450 ............................. ............ . . . 14 895
2 ,'1 1 4
To Hamburg—Jan. 7—Steamer Karthago, 2,114............... .
A lexan d ria , E gypt,
To
Rotterdam—Jan. lo —Steamer Arehtor, 100.............. .
100
1897-98.
189 5-96.
1896-97.
J a n u a ry 12.
To Genoa—Jan. 12—Steamer Asphodel, 7,10 0 .................
7,100
To
Lisbon—Jan.
7—Bark
Flounda,
300......................................
3
00
Receipts (cantars*)....
To Trieste—Jan. 11—Steamer Aquileja, 3,141........................ 3,141
This week....... .
237.000
180,000
145,000
G
alveston —To Liverpool—Jan. 6—Steamer Maria, 5 ,1 7 0 ....
Since Sept. 1 ..............
4,236,000
4,068,000
4,144,000
Jan. 8—Steamer Aldworth, 9,917......................................... . 15,087
To Manchester—Jan. 8—Steamer Roehampton, 3,931..........
3,931
Since
This
This
Since
This
Since
To Bremen—Jan 7—Steamer Fresbfleld, 7,351......................
7,351
week. Sept. 1.
week. Sept. 1.
week. Sept. 1.
To Vera Cruz—Jan. 8—Steamer Helois, 2 ,0 0 0 ......................... . 2,000
943
T exas Cit y , & c.—To Mexico, per railroad, 9 4 3 .........................
Exports (bales)—
To Liverpool............ 8,000 181,000 16,000 208,000
8,000 225 000 M obile —To Liverpool—Jan. 7—Steamer Progressist, 5,295___
Jan.
8—Steamer
Royalist,
4,83
2
......................................
10,127
To Continentt. . . . . . . 13,000 180,000 15,000 166,000 11,000 169,000
.....................
400
To Vera Cruz—Jan. 10—Steamer Uto, 400
Total Europe........ 21,000 361,000 31,000 374,000 19,000 394,000 Savannah —To Bremen—Jan. 8 —Steamer Nedjed. 6,458 upland
and 200 Sea Island
Jan. 13—Steamer Ranza, 17,900
upland and 300 Sea Island..................... , ............................. 24.858
t Of whioh to America In 1897-98,21,015 bales; In 1896-97, 20,442
To Uddevalla—Jan. 11—Bark Ole Smith Ploug, 1,825........... 1,825
bales; In 1895-96, 34,470 bales.
Charleston —To Liverpool—Jan. 13—Steamer Glenwood,
1,498................................................. ....... ...................... ................ 1,498
This statement shows that the receipts for the week ending
ilmington —To Bremen—Jan. 12—Steamer Hawkhurst, 8,063
8,063
Jan. 12 were 237,000 cantars and the shipments to all Europe W
B oston—To Liverpool—Jan. 5—Steamer Lancastrian, 9 14 ___
21.000 bales.
Jan. 7 —Steamer Sylvania, 1,982....... Jan. 10—Steamer
Sachem, 1,763
Jan. 11—Steamer Victorian, 6,791......... 11,450
South Carolina P rospering .—We have received from a
To Hull—Jan. 7—Steamer Ontario, 8 0 1 ............ ............... ........
801
valued correspondent at Holland, S. C., the following very
To Yarmouth—Jan. 7—Steamer Boston, 8 0 .......Jan. 11—
Steamer Boston, 2 00 .......................... .......... ......... ...................
280
interesting communication:
To Halifax—Jan. 8 Steamer Halifax, 139.........1 3 9
H olland , S. C., Dec. 30,1897.
B altimore —To Liverpool—Jan. 5—Steamer Ikbal. 2,262___
Jan. 7—Steamer Rossmore, 3,448....... Jan. 12—Steamer
M r . D ana —
Sedgemore, 2,428........ .......... ................... ..................; ............. 8,138
D ear Sir —I have lately taken a trip through four coun
To London—Jan. 11—Steamer Lord Erne. 4 0 0 . . . . . ........ [['.
400
To
Bremen—Jan. 8—Steamer München, 3,243..................
3,243
ties, viz.: Anderson, Greenville, Oconee and Pickens. The
To Hamburg—Jan. 7—Steamer Bohemia, 800___ Jan. 11—
Steamer Adria, 2,316.................................................................. 3,116
result of my observations is that Anderson and the Southern
Philadelphia —To Liverpool—Jan. 7—Steamer Waesland', 630
630
portion of Greenville will make more cotton than last year,
To Antwerp—Jan. 12—Steamer Nederland, 60........................
60
probably 10 per cent, and that Oconee, Pickens and the north P ortland, M e .—To Liverpool—Jan. 5—Steamer Vancouver,
„
___________ ___________
226
'
ern half of Greenville will make less than last year, prob Seattle —To Japan—Jan.
13—Steamer Matsuyama Maru.
3,274............................. ......................................... ...................... J! 3,274
ably 5 per cent or more. The development of the Charles
Total....................... ............................. .................... ...................207,782
ton phosphate beds has been the making of this (the Pied
The particulars of the foregoing shipments, arranged in
mont) section of the Carolinas and Georgia. Previous to
our usual form, are as follows.
the war there was very little cotton made in Anderson
Or eat French Oer- ^—Oth. E’rope—. Mexico,
County and none in Oconee, Pickens and the northern half of
B rit’n. ports, m any. North. South. <&c. Japan. Total.
New York
6,719 2,423 1,863 2,814
833
800 15,452
Greenville. Now it is made quite up to the foot of the Blue N. Orleans. 56)840
14)895 2,114
100 15,541
84,490
2,943 . . . . . . 29,312
Ridge. The guano makes it mature and open before the GTv’t’n, &e 19,018 ______ 7,351
Mobile....... 10,127 ......... . . . . . . . . . . . .
400 ......... 10,527
frost kills it.
Savannah.............................. 24,858 1,825
...............
26,883
1,498 ................. ..............
..................
1,498
We make more clear money now at 5 cents than we did Charleston
Wilmingt’n
...................... 8,063
...
.......................
8,063
before the war at 10 cents. The cultivation has been so Boston___ 12,151 .............. ....... .........
419 ......... 12,670
Baltimore. 8,538 ........... 6,359
....
................
14,897
much improved or simplified that we make from 10 to 30 Philadelp’a
630 ......... ......... ,
60
690
Portl’d.Me.
226 .............. ......................
.......................
226
bales to the mule, against 5 and 10 before the war. One of Seattle.......
......... . . . . . . .............. .
. . . . . . 3,274
3.274
my neighbors made in 3 years, 26, 28 and 33 bales to the
mule, besides making corn enough to do him. He made 2 T o ta l.... 115,847 17,318 50,608 4,799 11,374 3,762 4,074 2 0 7 , 7 8 2
To Japan since September 1 shipments have b.en 53,338
years ago 412 bales of cotton, averaging over 500 lbs. each, bales
from Pacific Coast, 7,ICO bales from Pensacola and
3.000 bushels of corn, 1,600 bushels of oats and 600 bushels of 8,297 bales from New York.
peas, with 25 hands and 14 mules, and he made enough out
Below we give all news received to date of disasters to
side of the farm by building bridges, ditching, clearing and vessels carrying cotton from United States ports, &c.
cutting cordwood, etc., for others to pay the wages of the L am ber t ’ s P o in t , steamer (Br.), from Norfolk, Dec. 19, for Liverpool
put into St. John’s (N. F.) Harbor on Dec. 23, with fire in the
hands. He made the 412 bales of cotton on 400 acres, the
cotton cargo. The tire was apparently extinguished Deo. 30,
after
four days’ incessant work, but it broke out again on Jan. 7.
3.000 bushels corn on about 100 acres, etc. His cotton crop
The steamer sailed for Liverpool, Jan. 9, with a deck load of
cotton still afire. The crew refused to sail in her until compelled
was all clear money and it brought him over $15,000.
by the police. If the fire becomes serious, it is intended to
This section is in the best condition that it ever was. The
jettison the cotton.
progressive, industrious farmers are making money.
Cotton freights at New York the past week have been
There is more surplus money in the country than ever was as follows.
known. We have three banks and are making arrangements
Satur.
Mon.
Tues. Wednes. Thurs.
Fri.
to start another at Anderson.
Liverpool,asked, ef.
30t
30t
301
301
301 '
Factories are going up in every county. They are just Havre...................c. 30@32t 3 030t
0 3 2 3 00 3 2 300321 300321 300321
starting a big mill at Anderson, and as soon as they get that Bremen....... ...,d .
35t
351
351
351
35
351
all running they will build another 1000 H. P. mill adjoining. Hamburg........... d.
301
301
301
301
301
301
351
351
351
351
321al
The big electric dam at Portman, on the Seneca River, ten Amsterdam.........c.
3 2 Ì3
481
481
481
4St
481
481
miles from Anderson, runs all the factories, water works and Reval, v. Hamb.tf.
Do v. Hull...<f.
44t
441
441
441
421
421
other manufacturing enterprises, lights, etc,, etc., at Ander Rotterdam....... ,d.
341
341
341
341
32ifl1
32iat
son.
Genoa..................d.
40f
40t
401
401
401
401
They are only running two dynamos now, but will start Trieste....... ...... ..d .
732
732
732
7S2 1364t®78. 1364®732
Antwerp..............d.
*8
others as needed.
*8
*8
Ghent, v. Antw’p. d.
B82
®33
532
582
532
532
They now furnish 2,000 H. P. to Anderson and the inter
t Cents net per 100 lbs.
vening county for ginneries, saw mills, etc. J. W. E arle .
L iverpool .—By cable from Liverpool we have the foliowShipping N ews .—A s shown on a previous page the
exports of cotton from the United States the past week have
Dec. 24. Dec. 31.
Jan. 7. Jan. 14.
reached 207,78^ bales. The shipments in detail, as made up
from mail and telegraphic returns, are as follows:
Sales of the week...........bales.
62,000
55.000
H e w Y ork —T o Liverpool, per steamers Aurania, 1 ,2 1 5 ^ ° ^
Bovic, 2,822 upland and 50 Sea Island............
To Hull, per steamer Colorado, 8 5 7 ...........
..............
To Manchester, per steamer Lassell, 7 7 9 ...
.......................
To Leith, per steamer Montauk, 9 9 6 ..
................... .
To Havre, per steamers La Bretagne, 1,252 upland and' 32
Sea Island— Strathesk, 1,139..........
To Bremen, per steamers Karlsruhe, 1,464.'.'.’. Trave.' 299‘ '
To Hamburg, per steamer Prussia, 1 0 0 ..........
'*
To Rotterdam, per steamer Veendam, 153
..........................
To Antwerp, per steamers St. Leonards,
5 4 " ' ‘ South
wark, 407........................ ................ .........
’
To Genoa, per steamer Alsatia, 833....... ...................................
To Japan, per steamer Energia, 8 0 0 ............. ........................
bales.
a.
nav
sv7
SSX
qqa
o Aoq
i m
i on
iVo
„ RR1
’SSo
«no
Of which exporters to o k ...
Of which speculators took.
8a es American........................
Actua export............................
Forwarded.................................
Total stock—Estimated..........
Of which American—Estm’d
Total import of the week____
Of which American..............
Amount afloat...........................
Of which American..............
--
-
- 7
— .—
2,200
1,800
57.000
4,000
78.000
770.000
657.000
127.000
107.000
404.000
400.000
.
300
9,900
51.000
7,000
63.000
854.000
738.000
153.000
138.000
332.000
330.000
—**‘ *"4*
55.000
1,700
2,100
51.000
7,000
77.000
910.000
792.000
140.000
129.000
312.000
300.000
67.000
900
4,400
63.000
5,000
86.000
967.000
852.000
148.000
134.000
292.000
290.000
«mu. luuures
each day of the week ending Jan. 14 and the daily closing
prices of spot cotton, have been as follows.
*
Sat’ day. M onday. Tuesday. Wed'day. Thursd’y F rid a y.
Spot.
Market, )
1:45 p. M. C Steady
Mid. Upl’ds.
3%
Sales............
Spec. & exp.
7,000
500
Futures.
Market, Ì Steady.
1:45 P. M. \
Market, 1
4. P. M. )
Quiet.
Easier.
Quiet.
Good
buyers’
business Infavor.
doing.
Steady.
3%
3732
37S2
3 732
12,000
1,000
10,000
1,000
12,000
1,000
12,000
3732
Quiet.
Quiet at
partially
1-64 dec.
Quiet at
partially
1-64 dec.
Quiet at Steady at
1-64 de partially
1-64 dec.
cline.
Barely
steady.
Quiet.
Steady.
1 .0 0 0
Quiet but
steady.
10,000
500
Steady
T h e prices of futures at Liverpool for each day are given
below. Prices are oa the bisis of Uplauls, L ov Middling
clause, unless otherwise stated.
The p rices a re given in pence and 64the.
S 63-64d.. and 4 Ol m eans 4 1-64(Z.
S a t.
Jan. 8 to
Jan. 14.
January.......
Jan.-Feb. . . .
Feb.-M ob....
Moh.-April..
April-May...
M ay-June...
Juñe-July...
July-Aug . ..
Aug.-Sept...
Sept.-Oet....
O ct.-Nov___
Ñov-.Deo. . .
M on.
T u es.
T h u s:
W ed.
3 63 m ea n s
T h u rs.
F r i.
12% 1 1:45 4 1:45 4 1:45 4 1:45 4 1:45 4
P.M. P. M. P.M. P.M. P. M. P.M. P. M. P. M. P.M. P.M. P. M. P.M.
d.
d.
d.
3 11 3 11 3 11
■
i
3 10 3 10 10
3 10 3 10 3 10
3 11 3 11 3 11
3 12 3 12 3 12
3 13 3 1 3 3 13
3 14 3 14 < 14
3 15 3 15 3 1 3 lfi 3 16 3 15
3 16 3 16 3 16
3 1 3 17 3 17
3 .17l3 18 3 17
145
THE CHRONICLE.
J anuary 15, löfc8.J
d.
3 11
3 10
310
3 11
3 11
3 12
3 13
3 14
3
3 15
3 16
3 16
d.
3 10
3 09
3 0»
3 10
3 11
3 12
3 13
3 13
3 14
3 15
3 16
3 16
d.
3 10
3 09
3 09
3 10
3 11
3 12
3 13
3 13
3 14
3 If
3 If
3 ie
d.
3 10
3 09
3 09
3 10
3 10
3 11
3 12
< 13
3 14
3 15
3 16
3 16
d.
3 10
3 (9
3 09
3 09
310
3 11
3 12
3 13
3 14
3 15
3 15
3 16
d.
3 09
3 08
3 08
3 08
3 09
3 10
3 11
3 12
3 13
3 13
3 14
3 14
d.
3 09
3 08
3 08
3 03
3 0»
3 10
3 11
3 12
3 1»
3 14
3 14
3 15
d.
3 09
3 08
3 08
3 09
3 10
3 11
3 12
312
3 13
3 14
3 14
3 15
d.
310
3 09
3 09
3 10
3 11
3 12
3 13
3 13
3 14
3 14
315
3 15
BREADSTUFFS.
F r i d a y , January 14 18P8.
Business in the market for wheat' flour has been on
a limited scale only. The tendency of values for the
grain has been again downward and buyers have con
tinued to hold back, and for some grades, particularly spring
patents, they have been able to make purchases at conces
sions in prices. Offerings of some grades of winter-wheat
flour, however, have been small, owing to scarcity, and as they
have had some call full values have been paid. City mills have
been quiet but steady. Rye flour has sold slowly and the
tone of the market has been easier. Buckwheat flour has
been quiet and easier. Corn meal has been moderately ac
tive and steady.
The speculation in the market for wheat futures has been
on a limited scale only, and there was a further weakening
in prices early in the week. Subsequently, however, part of
the loss was recovered. Monday the weakness was most
pronounced, prices declining % @ l c . under moderate selling,
largely by longs to liquidate their account, prompted by
quiet and easier foreign advices, accompanied by selling
orders, and larger receipts in the Northwest also had a de
pressing influence. Tuesday the market was weaker early in
response to easier foreign advices. Subsequently stronger
advices from the West stimulated a demand from
shorts to cover contracts, and prices advanced, closing
% @ % c . higher for the day. Wednesday there was a quiet,
irregular market, the near-by positions closing slightly
higher while the distant deliveries were lower. A report of
large purchases of clique wheat at the West for shipment
East, part for export, attracted considerable attention.
Thursday the market opened lower in response to weaker
foreign advices. During the day, however, the market
turned steadier owing to scarcity of sellers, and the close
showed prices practically unchanged for the day. To-day
there was a quiet market and changes in prices were unim
portant. The spot market has been active, large sales for
shipment from the West having been made to exporters and
local millers at lull prices. The close was quiet but steady.
Export sales were 8,000 bushels No. 1 spring on private
terms.
DAILY CLOSING PRICES OP
Sat.
.0. 98%
98%
.0 . 96%
93%
.0. 86%
NO. 2 RED WINTER WHEAT.
Wed. Thurs.
Mon. Tues.
98%
98%
98%
97%
97%
97%
97%
96%
96
96%
95%
95%
92%
92%
92%
92%
85%
85%
86%
85%
dency to other grains. Subsequently, however, the marketheld steady, as there was a fairly good export demand mid
there was less pressure to sell. To-day the market was quiet
but steady. Business on the spot market has been active, asshippers have been good buyers. To-day there was a fairly
active buying for export, the sales amounting to 150,000bushels No. 2 mixed in elevator, closing at 2 8 % c . and No. 2
white at 29J^c., in elevator.
DAILY CLOSING PRICES OP NO. 2 MIXED OATS.
Sat.
Mon. Tues. Wed. Thurs.
February delivery...........o. 28%
28%
28%
2 8 *9
....
May delivery..................... 0 . 2830
28%
28%
28%
28%
F ri.
28%
28%
Rye has had only a limited sale, but values have held
about steady. Barley has been firm but quiet.
The following are closing quotations:
PLOCR.
Patent, Winter.......$4 70 ® 5 OO
Fine....... ..................$2 70 ® 2 95
City mills, extras . 5 30 ® 5 40
Superfine................. 3 05 ®3 10
Rye flour, super flue 2 50 ® 3 15
Extra, N<>. 2 . . . . . . . 3 60 ®3 70
Buokwheat flour... 1 20 ® 1 30
Extra, No. 1 . . . . . . . 3 40 ® 4 OO
Corn meal—
Clears......................
4 05 ® 4 30
Western, e t c ...... 2 00 ® 2 05
Straights................... 4 20 ® 5 00
2 10
Brandywine
■ _ Spring------ 4 85 ® 5 60
Patent,
[Wheathour'in saoks sells at prices below those for barrels.]
GRAIN.
Com, per bush—
o.
c.
Wheat—
0.
0.
Western mixed.......... ..3 2 ® 37%
Hard Duluth,No.1 .1 0 2 ® 103%
No. 2 mixed..................32% ® 37%
Red Winter, No. 2. 99 ® 100%
Western Yellow .. . . . . . 3 4 ® 3 6 %
Hard Man., N o.l. 100*2® 102%
Northern, No. 1 __ 99 ® 1007s
Western White.............33% ® 36 %
Oats—Mix’d,per bsh. 28 ® 29*2 R y e Western,
per bush....5 0 ® 54
White......... ........... 29 ® 32
State and Jersey..........50 ® 5 4 %
No. 2 m ix e d ...... . 28*2® 29*2
Barley—W
estern............
43 ®54
No. 2whlte....... .
29*2® 30*2
Feeding......................„.34% ® 35%
E x p o r t s o f B r e a d s t u f f s , P r o v is io n s , C o tto n a n d
P e t r o l e u m . —The exports of these articles during the month
of December, and the twelve months, for the past three years
have oeen as follows:
Exports
from O. S.
1896.
1897.
1895.
December. 12 Months. December. 12 Months. December. H Months.
Quantities.
Wheat.bush. 12,909.076 108,644,977
1,818,028 13,472,456
our...bbis.
8,851,660 83,156,637
1,582,215 15,731,369
5,798.292 66,371,20®
1,427,172 14,187,483
Wheat....bn. 21,091,081' 169,271,029 15,971,617 153,947,797 12,220,636 130,214,873
Corn...bash. 17,937,638 186,470,601 15,003,943 128,647,307 10,646,479 61,460,66®
Tot. bush.. 89,028,718 355,741,630 30,975,560 282,595,104 22,867,045 191,684,542
»
Values.
»
Wh’t& flour. 20,036,257 156.123,519
6,259,346 60,087,468
Corn* meal
734,897 5,096,073
Rye............
Oats & meal. 2,194,165 15,062,940
300,016 6,750,213
Barley..........
Br’dstuffs— 29,524,681 243,1^1,108
Provisions *. 17,405,724 171,524,766
Cotton......... 36,280,781 212,524,620
Petrol’m,&c. 4,865,294 59,067,547
Fri.
98%
97%
95%
91%
85
$
$
14,377,634 115,313,898
4,801,820 43,514,257
228,236 2,266,993
1,176,320 8,726,684
1,037,615 6,457.073
$
f
8,562,523 90,208,193
3,963,575 23,359,861
40
477
148,985 1,618,813
263,034 1,484,211
21,621,635 176,278,405 12,938,167 121,571,665
14,121,10-t 162,217,075 15,796,066 154,477,643
40,254,267 233,378,619 30,748,46« 189,778,24®
6,631,855 62,764,278 6,785,Í 85 56,224,425
Tot. value 88.076.480 686,228,041 81,628.865 634,6B,377 65,217,971 522,046,872
* Includ lng cattle and hosts in all months and years.
N o t e . — A ll the above figures are based on the monthly preliminary
returns issued by the Bureau of Statistics, and cover about 98 per cent
of the total exports.
The movement of breadstuffs to market as indicated in the
statements below is prepared by us from the figures of the
New York Produce Exohange. The receipts at Western lake
and river ports for the week ending Jan. 8, and since Aug.
1, for each of the last three years, have been as follows:
Oats.
Bye.
Barley.
Com.
Flour.
Wheat.
Bbis.198 lbs Bush.80lbs Bush.bSlbs Bush.32lbs Bush.iSlbs Bw.56 lbs
84,350
323,451
400,350 2,750,983 2,886,306
125,099
Chicago......
52,200
422,000
261,550
214,400
156,000
29,100
Milwaukee
52,723
159,813
250,488
6,599
465,558
118,680
322,130
6,390 1,645,540
Minneapolis*
308.316
6,685
140,943
109,627
709
10,105
25,481
17,465
24,247
83,781
4.100
Detroit........
161,379
115,903
40,9(0
15,849
Cleveland ...
900,870
17,500
261,210
31,500
160,2(1
23,310
St. Louis . ..
45,900
8,600
212,900
447,500
17,900
13,950
Peoria.........
315,(00
57,000
286,000
Kansas City.
Receipts at—
Tot.wk.’98.
Same wfe.’97.
Same wk.’96.
Since Aug. 1.
1897 ............
1896.............
1895.............
217,007
130,656
151,317
3,265,897
1,514,885
2,943,415
5,455,602
2,142,883
3,009,075
4,693,127
2,711,947
1,995,011
638,315
607,709
551,452
227,163
155,380
39,954
6.196,566 151,356,726 119,737,871 98,626,825 23,331,058 6,919,276
There has been only a small speculation in the market
6.392,924 110,539,341 78,260,643 91,526,923 25,140,726 4,761,085
for Indian corn futures and the changes in prices have
6,174,807 134,857.227 56,673,174 71,789,378 24,384,467 2,267,945
been unimportant, fluctuations having been within the
The receipts of flour and grain at the seaboard ports for the
narrowest range. Early in the week values weakened in week ended Jan. 8, 1898, follows:
sympathy with the decline in wheat and under a heavy move
Bye,
Oats,
Barley.
Flour, Wheat,
Com,
ment of the crop. Subsequently, however, a continued good
bush.
bush.
bush.
Receipts at—
bbis.
bush.
bush.
118,950
155,025
1,526,800
New
York.......
147,-56
618,825
282,050
export demand and covering by shorts turned the market Boston............ 25,205
820
600
70,917 123,682 439,327
steadier and the small loss was recovered. To-day the mar M ontreal................... 9,810
12,185
180.300
47,820
‘ 12,800
323,886
61,352
110,123 213,083
ket was quiet and without important changes. The spot Philadelphia.........
Ì72,85Ò
185,853
10,761
B altim ore...........
78,026
320,587 1,160,000
market has been fairly active and at the close exporters were Richmond......
28,090
2,016
8,866
7,200
201,803
New Orleans*........
6,685
238,175 6 7,490
moderate buyers, taking 102.000 bushels, including No. 2 Norfolk...................
2,209
...........
226,857
mixed at 34%c. to 36J^c. f. o. b. afloat; No, 2 white at 36 % c. M ob ile........ ..... . .......................
233 000
4,900
Galveston...................... .......
195,250 3/6,800
do. and No. 2 yellow at 363^c. do.
50,0 0
Charleston.............
.7,571 50.0 jO
.... -.
DAILY CLOSING PRICES OF NO. 2 MIXED CORN.
Sat.
Mon.
Tues. Wed.
Thurs.
. January d e liv ery .......c. 33*4 3 2 7a
33*8
32%
....
May d elivery.... . . . . . ...o . 34% 34
34%
34
34%
F ri.
—
34%
Oats for future delivery have been dull and prices weak
ened early in the week in sympathy with the downward ten-
889
38,308
90,403
42,000
8,663
47,359
41,910 101,496
55,714
33,000 600,046
152 «' 3
396,594
Total w eek...... 3*4,9 >4 1,84,325 S.S-4,118 3,04 ',7*13
105,105
20r>,2 U
637,081 2,315,599 1.023.142
Week 1897..............
28 1,269
NS r Orreins' for foreign
h i- 8 1 $ >
• * >taceipts do not- t'iot'i'1'* -m in
Portland. Me ......
St. John, N. B. .....
Newport News......
7,322
2.144
24,259
ports on through bills o f lading.
14 6
THE CHRONICLE,
Total receipts at ports from Jan, 1 to Jan. 8 compare a
¡follows for four years:
Receipts of—
flour.................bbls
Wheat......
Corti......». ....bush.
Oats ........
Barley.........
Rye......... .
Total grain...
—- - - r —
1893.
' 364,954
1897.
280,269
1896.
283,534
1895.
229,178
1.840.S25
3,884,118
3,0c0,7«3
162,603
396,594
037,681
2,815,399
1,023,142
209,254
105,105
333,671
1.624/t95
641,087
90,254
12,791
222,007
670/8»
001,245
101.113
14,043
9,354,403
4,790,581
2,708,348
o u 'o io i ooauuaiu puiua
1,542,022
JUO Wt
directions, and the woolen goods market shows a generally
firm tone prevailing. In overcoatings, Kerseys are being or
dered at the recent advance in prices, which are well maintame I. Friezes, chinchillas and other rough-faced varieties
have also ruled firm, but fail to show the liberal sales reported in Kerseys. Staple and fancy dress goods show
slightly better remits during the week, but the demand still
c mtinues of an indifferent character at unchanged prices.
Flannels and blankets quietly firm.
D o m estic C o tton G o o d s , —The exports of cotton goods
from this port for the week ending Jan. 10 were 4,200
packages, valuer, at $169,866, their destination being to the
points specified in the tables below :
■ending Jan. 8, 1898, are shown in the annexed statemant:
„
. a
Whsat,
Exports from— hush.
New Ifora .... 868,121
«ostini ...... 72,811
Portland .... 90,403
Philadelphia.. 132,000
Baltimore. .. 111,790
New Orleans.. 019,637
N orfolk........
...
:Newp’rt News 83,000
St. John, N. B 47,359
«4alve8ton ... 185,000
-Charleston..'. 50,000
Mobile....................
Corn,
flour,
bus*.
bbls.
830,837 122,496
169,82 J 41,182
12/00
7.322
10 6 ,290
29,351
997,402
72.939
1,031,229
9,574
236,867
2,309
000.040
24,259
41.910
2,144
77,100
...........
' *7,571
233,000
Total wTt.. .2,400,144 4,316,5'3
Sametime’97.. 689 415 4,095 884
Oats,
hush
334,929
71,393
38,303
80,000
20,000
172,140
101,496
Bye,
bush.
84,510
23,791
116,714
80,000
*55*714
Peas,
bush.
8,832
Barley
bush,
124,773
*33,480
New Y obk
17,009
to
58,331
129,387
1,0 0 0
India....................
Arabia............... .
Africa................
West Indies........
134,325
____
_
372.372
1,074
451
269
270
57
Mexico.................
The destination of these exports for the week and since
Central America.
September 1, 1897, is as below.
South America..
--------- Hour.-------- ,
Exports for
Week Since Sept.
week and since Jan. 8. 1,1897.
Sept. 1 to—
bbls.
bbls.
United Kingdom 249,917 3,944,442
" Ointment..........
19,091
541,183
-S St C. Amerioa..
8.859
427,456
West Indies.. .. 28,425
891.78*
Brit. N. A. Col’s. 16,r05
113.437
Other countries..
1,050 __88,824
Total
319,147 5,500,028
l b tal 1896-7..
830,840 5, 100,875
1897.
Week. Since Jan. 1.
104
26
China....................
309,719
47,304
1898.
Week. Since Jan. 1.
Jan. 10.
Great Britain__
Other European.
8,063
‘¿Ò’.ÓÒO*
819,147 898,288
338,840 1,111264
[VOL. L X V I,
112
708
131
126
32
1,500
1.819
80
84
1
12 1
4
2
4
O
711
18
306
39
105
807
15
1 ,2 0 1
1,312
633
111
184
950
230
907
29
827
85
369
4,615
81
i—— Wheat.
•>
Other Countries.
-Corn.—
Week Since Sept.
Week Since Sept
Jan. 8. 1, 1897.
Jan. 8.
1.1897.
Total.......... »..............
4,200
8,098
2,088
husk.
bush.
bush.
7,124
bush.
China, via Vancouver*
1,248,029 32,010,038 1,909/08 29,758.728
........
3,050
1,149;793 25',72?M98 2.330,150 80;778,838
2,322
858.864
Total.
4,2 O
709
84,230
8,098
2>088
10,174
...........
1,375
27,188
677,212
* Prom New England mill points direct.
...........
11,900
211,<ilo
...........
251,274
1,520
71,829
The value of 1the New York exports for the year to date
2.400.144 58,853,749 4,348,553 61,574,90q has been $309,090 in 1893 against $327,356 in 1897/
869.415 27,080,446 4,096,884 63,200,357
There have been no changes in the price of bleached
The visible supply of grain, comprising the stooks in cottons during the week, the market ruling steadv in
granary at the principal points of aooumulation at lake and most^ directions. ^ T h e demand has ruled indifferent
seaboard ports, Jan. 8, 1898, was as follows:
all grades.
Wide sheetings are decidedly duTfand
_ .
.
Wheat,
Corn,
Oats
Rye.
Barley
easy to buy.
In winlrn«
brown o*.
goods
the demand
has
ruled DerIn store at—
bush.
busk
bmh
bush.
bush.
tnriOrAT*I7
in
mrvaf
J
j
-» 1
New Y o rk ................. 3,2P8.ooo
4.554.000
4,857,000
1.276.000
541.000 fanctory in most makes, and sheetings, drills, ducks and osOo afloat.........
186,000
371.000
643.000
42.000
406.000 naburgs are less irregular in price than a week ago, the mar
Albany......................
....
140.000
75,000
30.000
Buffalo............................ 1,568000 2.976.000
322.000
*60,000 1,313,000 ket showing more firmness at the recent decline in prices
Oo afloat........
559,000
196.000
84.000
Cotton flannels and blankets slow and
Chicago..................... 10,801 mo
15.169.000
672 000
1.215.000
814.000 through concessions.
Do a flo a t......
357,000
4.377.000
89.000
93.000 unchanged. Kid finished cambrics still idle and weak. Fancy
<MIwaukee................ 132.000
112.000
*90,000
24.000
52.00C calicoes are slow but steady, based on business accomplished
Do
afloat...................
Duluth......... . . ... ... 2,157,000
1.772.000
1.416.000
1.037.000
528,00< earlier in the season. Fine ginghams are well sold, with an
Do
afloat........................
improved current demand. Staple ginghams in small steady
T ile d o ........................ 287,000
622,000
410,000
43,bob*
Do
afloat.........
.......
request at unchanged prices. Print cloths inactive, with
D etroit...................... 159,000
*85,000
**8,000
* 21,000
7,000 ¿ % c nominally quoted for extras.
Do
afloat................ ........
Oswego....... ..............
6,000
50.000
47.000 •
D ? y G o o d s . There is little improvement to note
■Be Louis................... 2,488,900
3,719,000
162,000
98,000
2,000 m the demand for imported merchandise in any direction,
„ Do
afloat...... .
50.000
54.000
9 000
Cincinnati...............
*76,000
*22,0(50
60 00
and both seasonable lines and goods for the ne w season have
Boston....................... 359,000
927.000
403.000
17.000 ruled quiet without special feature.
Toronto.....................
63,000
13.000
36.000
CO
©*.
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266.665
246.666
195,502
176,996
92,824
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416,265!
264,366
118,960!
113,2501
45,3841
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134,697
132,838
78,814
92,103
27,666
W o o l e n G o o d s .— Men’s-wear woolens and worsteds show
signs of renewed activity from the holiday lull, particularly
m the lower grades of woolen sorts. Many of these lines
have secured sufficient orders to take care of the output for
some time to come and have consequently been withdrawn
from the market for the time being. With the excep
tion of the better grades of worsteds and Clay diagonals, gen
eral business for the new season is now fairly launched and
-is making good progress. Values are well maintained in all
loto
toco
WM
©©*.©©
►-OWO©
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—
N e w Y o r k , F r i d a y , P. M „ Jan. 14, 1898.
The attendance of buyers shows slight improvement to
wards the close of the week, but buying is still restricted to
¡small proportions. There has been no material improvement
in ^mail orders, what little business is in progress being
chiefly due to transactions on the spot. The situation in
manufacturing centres is closely watched by buyers and
sellers alike, for should the inclination on the part of
operatives incline toward strikes, it will undoubtedly act
as a strengthening factor, in the price situation. The
•continued decline in raw cotton is having its effect upon
the price of print cloths and low-grade sheetings, and this U
a factor that buyers show no hesitation in emphasizing. In
•other lines of cotton goods there has been no open changes,
but the market continues to show some irregularity, with
prices still in buyers’ favor. Prints in the more fancy lines
are generally well situated, and prices hold firm in spite of
-the adverse conditions in print cloths. Woven cotton fab
rics, both in the low grades and the finer dress styles, are in
steady request, with firm prices ruling.
198,153
110,444
50,942
72,037
30,067
DRY GOODS TRADE.
Manufactures of—
Wool.....................
Cotton..................
Silk........................
Flax.......................
Miscellaneous........
4.100.000
4.065.000
8,100 000
1,5-2,000
475.000
958,2251
3,728,963 j
14.772.000
12.244.000
13.086.000
6.369.000
8.633.000
10,447
18,428
46,000
39.518.000
38.421.000
20.528.000
6,181,000
11.083.000
Total..................... 1 2,417 466,118
Ent’d for consump. 9,070 1,955,912
62,000
The importations and warehouse withdrawals of dry goods
at this port for the week ending Ja 1. 13, 1898, and since
January 1, 1898, and for the corresponding periods of last
year are as follows:
H g
g
g
g
to 3 S 5 £ ^ g
0 «to S to sS-o 5
2? p2.o 5
E SE
B n
B S*
S §£
4,687,1881
94.000
452.000
135.000
4,306
30,817
Im p o rta tio n * a n d W a reh ou se W ith d r a w a ls o f Dry G o o d *
35,123
27.001
‘ 85,000
978,653 2,301 456,643
3,833,529 21,278 2,216,272
50.000
’ *2,000
4,812,182 23,579 2,672,915
THE
515.000
514.000
125.000
69.000
65.000
543.000
3,239,000
28,875
Total Jan. 8,1898 88-,813,000
Total Jan. 1 ,18v8 38.816,000
Total Jan 9,1897 63.h72.000
Total Jan 11, 1896 68,945,000
Total Jan. 12,1895.83,615,000
‘ 64,000
810.000
863.000
106.000
530.000
792.000
1,230,000
Total imports.___ 11,487 2,422,030
Montreal..................
100.000
¡Philadelphia............. 737,000
Peoria........................
4,000
Indianapolis..............
97,000
KtnsasCity............... 870,000
Baltimore................. 1,288,000
M inneapolis............... 13,312,000
■On Mississippi River................
•On Lakes«................................
•On canal and river...................
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-J anuary 15, 18£8.J
THE CHRONICLE
S tate and C ty D epa rtm en t ,
TERMS OF SUBSCRIPTION.
Thie Investors’ Supplement will be furnished w ith o u t
* x t r a charge to every annual subscriber of the Commercial
and F inancial Chronicle .
\ ,
. , ,
The State and City Supplement will also be furnished
w ithou t extra charge t o every subscriber of the Chronicle .
The Street R ailw a y Supplement will likewise be fur,nished w ithout extra charge to every subscriber of the
^Chronicle.
.
The Quotation Supplement, issued monthly, will also be
urnished w ith ou t e x tr a charge to every subscriber of the
'C hronicle.
... .
.
TERMS for the Chronicle with the four Supplements
jabove named are Ten Dollars within the United States and
Twelve Dollars in Europe, which in both cases includes
tpostage.
_______ _
Terms of Advertising—(Per inch space.)
Transient matter (1 time).. $3 50 I Three Months (13 times). .$25 00
s t a n d in g b u s in e s s c a r d s .
Six months
(26 tim es).. 43 00
T w o months 18 times).......... 18 00 I Twelve Months (52 times). 58 00
Alexandria, Ind .— P rop osed Purchase o f E lectric-L ig h t
City Council has under consideration the pur
chase of the electric-light plant. It is stated that the trans
action is about to be consummated, and a petition is being
circulated with the object in view of delaying the purchase.
O ne reason given for so doing is that the purchase of the
plant would raise the tax levy to an unreasonable amount.
Cincinnati, Ohio.— P ro p osed P a rk B i l l — At a meeting of
the Joint Committee on Parks held recently a revised park
bill was drawn up for presentation in the Legislature. The
bill provides for the issuance of 4# park-construction
bonds not exceeding $2,000,00i>, payable in not less than 50
years. The jurisdiction and powers of the Park Trustees,
■five in number, “ shall be exclusive and shall extend to and
may be exercised throughout the county within which the
city wherein the board shall be appointed is situated.”
Galveston, T exa s,.— P etitio n to E n jo in B o n d I s s u e —Oi
Jannary 11, 1898, a petition was filed in the District Court by
a number of tax-payers, asking that the city be enjoined
from issuing the $300,000 bonds for the construction of a
sewerage system. The petitioners, it is stated, allege that
the ordinance and the legislative enactment authorizing and
empowering the city to issue the bonds was illegal and un
constitutional because it failed to provide for an election
whereby it may be ascertained if two-thirds of the tax-payers
of the city were in favor of the bond issue, as specifically re
quired by the Constitution of the State.
Georgia —N ew L a w G overn in g M u n icip a l B o n d Issu es .—
One of the most important bills passed by the last Legisla
ture was that governing issues of bonds by counties, munici
palities and other civil divisions in the State of Georgia.
Under the Act the authorities of the county, municipality
or divisions desiring to issue bonds as prescribed in Section
7, Article d of the Constitution of 1877, shall hold an election
in accordance with the Constitution, and in the event of a
favorable vote shall within 20 days notify the Solicitor Gen
eral (of the Judicial Circuit in which such county, munici
pality or division may lie) of the result. In the event of the
absence of the Solicitor General from the circuit, the notice
«shall be served in person upon the State Attorney General.
Within 20 days after receiving such notice the Solicitor Gen
eral or the Attorney General, as the case may be, shall pre
pare and file in the office of the Clerk of the Superior Court
of the county in which the election was held a petition in
the name of the State and against such county, municipality
-or division desiring to issue bonds, setting forth the details
•of the bonds desired, and obtain from the Judge an order re
quiring the officers to show cause within 20 days days why
said bonds should not be confirmed and validated. The act
also provides that the judge shall hear and determine all the
-questions of law and of fact in said cause and shall render
judgment thereon, and in the event his decision shall be
favorable, a judgment and order shall be entered to that
effect, and any citizen of Georgia residing in the section de
siring to issue the bonds may take exception to the ruling
within 20 days from said judgment and be heard in the Su
preme Court in accordance with the usual procedure in such
cases. If no bill of exceptions is filed within the 20 days, or
if filed the opinion of the Superior Court is affirmed by the
Supreme Court, the judgment of the Superior Court so con■firming and validating the issuance of the bonds “ shall be
forever conclusive upon the validity of said bonds against
the said county, municipality or division, and the validity of
said bonds shall never be called in question in any court in
this State.”
Provision is also made that all bonds so passed upon shall
have stamped or written thereon, “ validated and confirmed
by judgment of the Superior Court.” Bonds already voted
but not as yet issued are excepted from the operation of the
Jaw. These may be issued in the old way, and no court is to
have power to inquire into the validity of such bonds, by any
.proceeding at law or in equity, which may be brought,
unless the same is interposed within 30 days from the date
fhe new Act went into effect.
Jeffersonville, Ind .— B o n d L itig a tion .—In the C hroni
c l e last week we stated that the Somers worth Savings Bank
'P la n t .—The
of New Hampshire had brought action in the Federal Court
at Indianapolis to test the validity of the $87,000 Court House
bonds. In reply to our inquiry Mr. A. H. Bamber, City
Clerk, writes as follows: “ In regard to the $87 0u0, you are
aware they were due August 1st, 1897, and the city had made
arrangements to refund them and had sold new bonds and
the proceeds were to take up and pay for the old ones when
due. The city also sold some other bonds (two issues, both
of which have been sold), and as some technical question was
raised the city, in order that no question should be raised in
the future as to the legality of any of the paper issued by it,
entered into a friendly suit in order to have the bonds passed
upon by the courts, and all three issues were passed upon by
the Circuit Court and then taken to the Supreme Court of this
State. The Supreme Court of this State held two of the
issues good, but held that the $87,000 was illegal.
“ Some time later a committee representing the bondhold
ers—Messrs. W. V. B. Chase, Seth Butler and Theodore C.
Woobury—came here to confer with the city officials, and it
was stated that if the Legislature passed a healing or en
abling act that it would care the deficit, if any, in the said
bonds. The committee made a proposition to the Council
and afterwards the city made them a proposition, which was
accepted by them in behalf of the bondholders.
“ In the proposition the city agreed to join with the bond
holders asking the Legislature to pass such an act and peti
tioned that body so to do, which was done. It was agreed
by all parties that the Court should pass upon the question as
to the legality of the act of the Legislature in passing such
an act. If the Supreme Court of this State says the act was
legal, the city is ready and willing to refund and pay the
bonds. But the legality of the act is questioned by many,
and the Council will do nothing in the matter until such de
cision is received, which we believe will be soon, as the Court
is now in session,
“ In their acceptance of the proposal the committee stated
that they represented all the bondholders, and we do not un
derstand how the Somersworth Savings Bank came to
bring suit in the Federal Court for $7,000. As stated, if the
Supreme Court says the act is legal the city is ready and
willing to pay the bonds. But if the act is illegal and the
city is enjoined from issuing the bonds then the matter can
and will be taken to the Federal courts for settlement.”
Michigan .— The T a x Title D ecision .—Regarding the item
contained in last week’s Chronicle relative to the recent de
cision of the Supreme Court declaring certain tax titles
worthless, we have received the following from Hon.
Robert G. Steel, Deputy State Treasurer, in reply to our in
quiries.
“ State of M ichigan ,
“ T reasury Department,
“ L ansing, January 7, 1898.
“
W illia m B . D ana C om pa ny, N ew Y ork C ity.
“ G entlemen—Your favor of 5th inst. at hand
and noted.
The case to which you refer was the Connecticut Mutual Life
Insurance Company against Eugene B. Wood, the State not
being interested as a party to the suit. It was litigation over
some land that Wood bought at a tax sale formerly owned
or controlled by the insurance company, and the value of the
land was not over two or three thousand dollars, as we are
informed. The Supreme Court decided in favor of the insuronce company, but have of their own motion granted a re
hearing of the case, on account of some matters having an
important bearing on the case not being brought before the
lower court, and hence not reviewed by them, which would
undoubtedly modify their decision in several particulars.
“ Authorities in the State are divided as to the effect the
decision would have, if allowed to stand as at present, on
«state tax lands sold by the State for taxes, the concensus of
opinion seeming to be that it is a case which must be judged
upon the peculiar circumstances attending the particular
case and that it will have no general bearing.
“ Very respectfully,
R obt. G. Steel,
“ Deputy State Treasurer.
Mitchell County, Texas.— B o n d s V oted .—The State Su
preme Court recently sustained the decision of the District
Court in the case of the City National Bank of Paducah, Ky.,
against Mitchell County. The question'has a bearing, it is
thought, on the validity of certain bonds of other counties is
sued under similar conditions. The suit was brought against
the county officials, who declared that the bonds were illegal
because the Commissioners’ Court of the county had neglected
to provide a sinking fund when it made the order providing
for the issuance of the bonds. The District Court decided
against the county and this decision has now been sustained
by the Supreme Court, which holds that when a Commis
sioners’ Court makes an order providing for a lawful issue of
bonds it enters into a contract which the courts must com
pel it to execute, even, though it neglects to levy a tax for
ia sinking fund and interest.
_
Montgomery, Ala .— P rop osed Purchase o f W a te r W o rk s.
—The Council has under consideration the purchase of the
plant of the Capitol City Water Co. The city has offered
$330,000 in cash or bonds, which offer has been refused by
the company. As stated in the Chronicle September 25,
1897, the company holds its plant at $475,OoO. A committee
of five has been appointed to confer with the officials of the
company, with authority to consider the whole subject,, and
report to the Council at as early a date as practicable.
Oshkosh, Wis.— P rop osed Purchase o f W a te r W o r k s .—
It is stated that Mayor Ideson will ask Council to issue a ca 11
148
THE CHRONICLE
for a special election to vote on the question of purchasing
the city water works.
Richtnond, Ind.—C orrection , —In the C h r o n ic l e last week
we reported from the Indianapolis “ New*” that $7,000 streetimprovement bonds, issued for the street railway’s portion
of thepaving of Main Street, would not be paid on the date
of their maturity, January 1, 1898. We are advised by Jos.
H. Winder, City Clerk, that the item does not refer to R ic h
m o n d , but to Terre H a u te, In d . Mr. Winder says that the
first series of Main Street paving bonds of R ich m ond are due
October 2 and second series December 4, and that all bonds of
the city of Richmond are payable at the Merchants’ Ex
change National Bank, New York City, and are always paid
promptly.”
Winfield, Kan.— R efu n d in g o f B o n d s P ro p osed . —At a
special meeting of the City Council held December 28, 1897,
it was decided to make an effort to refund the 6£ bonded in
debtedness of the city with 5% bonds. It is stated that $80,000 bonds can be refunded, of which $20,000 are railroad aid
bonds which require a year’s notice to refund, and this notice
was given some time ago.
Athens, Ga.—B o n d s R edeem ed.—On January 1, 1898, the
city redeemed the remaining $6,000 of the $100,000 6$ railroadaid bonds issued more than 2o years ago.
Butte, Mont.—B o n d Cull.—Notice has been given that
sewerage bonds issued by this city on April 1, 1889, Nos. 23
to 29 inclusive, are called for payment on February 1,1898,
at the office of Blair & Co., 33 Wall Street, New York City.
Interest will cease after this date.
Cedar County (Mo.) School District No. 3.—B o n d C a ll.—
The district has called for payment February 10,1898, at. the
city of Bear Creek $100 bond No. 1 issued August 24, 1896,
and bearing interest at 8$.
Cripple Creek, Col.— W a r r a n t C all.—A. G. Burton, City
Treasurer, has called for payment the following warrants:
Town o f Cripple Creek, registered. Nos. B 515 to B 547.
City, o f West Cripple Creek. Nos. ‘¿42. 243 and 244.
City of Cripple Creek, series A..” Nos. 6i8, «19, «33,690, 691, 692, «93, 694, 696,
697, 698, 699, 700, 701, 702. 703, 706, 707. 708, 709, 712, ,715, 717. 721, 722, 72s, 724,
950, 952,950, 997, 99«, lOUO, 1016,1018,1021,1035,1052,1055,1057,1058,1079,1061,
1063 and 1064.
Floyd County, Texas.—B o n d R ed em p tion . —On January 8,
1898, the county redeemed a $1,000 bond held by the Perma
nent School Fund.
Georgia. B o n d R ed em p tio n . —The State Treasurer will
redeem the $1' 0,000 4x/4% bonds due this month.
Hamilton. County, Texas. —B o n d R ed em p tion . —The coun
ty redeemed a $1,000 bond held by the Permanent School
Fund on January 8, 1898.
Howard County, Mo.—B o n d Call.—Thomas G. Deatherage, County Treasurer, has called for payment February 1,
1898, at the National Hank of Commerce, New York City, 5#
bonds Nos. 20 to 25 inclusive, of $l,0t 0, each and Nos. 127
to 137, inclusive, of $500 each. Bonds bear date Of February
I, 1889. Interest will cease February 1, 1898. The County
Treasurer has also called for payment on the same date
Chariton Township bonds Nos. lai to 125, inclusive, of $1,(00
each.
Lancaster, Ohio.—B o n d s R edeem ed. —City Clerk H T.
Mechling reported at a recent meeting of the City Council
that $10,030 city bonds had been redeemed.
Pekin, 111.—B on d Call.—The city has called for payment
February 1, 1898, bonds Nos. 1 to 63, inclusive, bearing date
of February 1, 1887. These bonds are in denominations of
$500 and $1.000 and amount in all to $53,000. Interest will
cease on the above date.
Ralls County, Mo.—B o n d Call —The County Court has
called for payment February 1, 1898, at the Mississippi Val
ley Trust Co., St. Louis, the following 5% bonds dated Jan
uary 7, 1889: Nos. I to 2-3 inclusive of $1,000 each (except
Nos. 13>* and 153. which have been paid,) and Nos. 284 to 321
inclusive of $500 each. Interest will cease on the above
date. Holders of the above bonds can exchange them for
4# refunding bonds upon notifying Wm. C. Little & Bro., 411
Olive Street, St. Louis.
Toledo, Ohio. - B o n d R ed em p tio n . —The Sinking Fund
Commissioners will redeem the $30,(00 5% water-works bonds
that matured January 1, 1898.
Webb City, Mo.— Hond Call.—The city has called for pay
ment February 21, 1898, at the St. Louis Trust Co., $500 bond
No. 15, bearing 6# and dated July 28. 1890.
Warrensburg (Mo.) School District.—B o n d C a d .— The
district has called for payment February 1, 1898. at the
Fourth National Bank, St. Louis, 5-20 bond No. 42, dated
August 1, 1888. Amount, $500.
Washington.—W a rr a n t C o ll. —State Treasurer Young has
called for payment January 17, 1898, general fund warrants
Nos. 19,616 to 2 >,420, inclusive, and Nos. 2,030 to 2,> 31 on
the military fund. Amount of call: General fund, $89,167 19:
military fund, $2,000.
>J
Bond Proposals.and Negotiations this
week have been as follows:
Alameda County (Cal.) Fruitvale School District.—Bids.
The following bids were received January 6, 1898, for the
$15,000 5% 6 20-year (serial) bonds:
N. W. Harris & Co., Chicago
$15,33 - j Oakland Bank o f Savings.........$15,151
No award has yet been made. These bonds were awarded
November 30, 1897, to W. J. Hayes & Sons, Cleveland, at
101*45, but were afterwards refused by that firm.
Annapolis, Md.— B o n d s P oposed .—A bill has been pre
sented in the House of Delegates authorizing toe city to is
[VOL. LXVI.
sue bonds, subject to a vote of the people, for the purchaseo f the water-works system, a gas plant and for street im
provements.
Athens County,¡Ohio.—Bond S ale.— On January 12, 1898,
the $100,(00 5% bonds were awarded to Seasongood & Mayer,
Cincinnati, at 100'335. Bonds mature $10,000 yearly, begining September 1, 1899, For farther description of bonds see
Chronicle December 25,1897, p. 1231.
Austin, Texas.— C orrection.—In the C h r o n ic l e January
1,1898, we stated that proposals would be received until 12
M. January 15, 1898, for $15,000 water-works and electriclight bonds. The item was taken from an official notice as
follows:
“ Sealed bids, addressed to Hon. John D. McCall, Mayor,
Austin, Texas, will be received until 12 o’clock noon January
15, 1898, for the sale of fifteen 5 per cent water-works and
electric-light bonds of the city of Austin, Texas, of one thou
sand dollars each.”
We are now advised by John O. Johnson, City Clerk, that
the city has no bonds for sale, but that they wish to purchase
the above amount of outstanding bonds for the sinking fund.
Blue Earth City, Minn.—B o n d s P ro p osed . —We are ad
vised that the railroad bonds maturing July 1, 1898, will be
refunded. The new issue, $36,000, will bear interest at 5%
and will mature $2,000 yearly for twelve years and balance
in three annual instalments. Bids will be advertised for in
due season.
Bowling Green, Ohio.—B o n d N ew s —On January 10, 1898,
14 bids ranging from 102*50 to 111‘235 were received for the
$10.000 5% refunding bonds. The award has not yet been
made.
Bozeman, Mont.— B ond O ffering.—Proposals -will be re
ceived until 12 m . February 15, 1898, by George D. Pease,
City Clerk, for $56,000 6$ 10 20-year (optional) coupon water
works bonds. Securities will be in denominations of $1,000,.
dated February 15, 1898. Interest will be payable semi-an
nually in either Bozeman or New York City, at the option
of the purchaser. Bonded debt is $46,000, assessed valua
tion $2,()78,35l and the actual value about $2 5(0,000; popula
tion estimated at 4,000; tax rate 1897 is $12 per $1,000.
Bristol County (P. 0. Taunton), Mass.— B o n d Offering .—
Proposals will be received until 10 a . m . Jan. 17,1898, by the
County Commissioners, Edward Mott, Chairman, for $1C0,O(,0 4% notes. Securities are issued pursuant with Chapters
368, Acts of P 9 3 ; Chapter 239 and 530, Acts of 1894, and
Chapter 200, Acts of 1897. They will be in denominations of
$20,000 each, dated January 18, 1898, and payable four years
from their date. Interest will be payable semi annually.
Brookline, Mass.— ’ oan A u th o rized . —At a meeting of
the Selectmen held January 11, 1898, the Town Treasurer
was authorized to borrow $¡8,000 to buy land for a school
site and $14,000 for additional water supply.
Buffalo, N. Y.—B o n d S a le.— On January 3, 1898, the
following bonds were assigned to the Park Bond Redemption
Sinking Fund at par :
$15,240 «2 3%, maturing July 1,1898.
750 00 3%, maturing July 1,1898.
B o n d s P ro p osed . —A Mil was recently introduced in theState Senate authorizing the fcity to issue $25 >,000 refunding
park bonds ; also $15 ,000 bonds for park improvements, be
sides an issue to refund temporary bonds for the extension of
Elk S’reet Market.
B urrillville, R. I.— T em p ora ry L oan. —The town has ne
gotiated a six months’ loan of $10,000 for the purpose of mac
adamizing roads
Cass « ounty (P. 0. Cassopolis), Mich.—B o n d E lection . —
The Board of Supervisors has passed a resolution providing
for the submission to a vote of the people the question of issu
ing $4",0 0 bonds for a court house.
Cleveland, Ohio.—B o n a s P ro p osed . —It is stated that a
number of bills will shortly he introduced in the Legisla
ture providing for the issuance of bonds for various public
improvements. One of the bills will authorize the issuanceof bonds to complete the river-widening improvement. An
other will give the city authority to improve the lake front.
Another hill will authorize the issuance of bonds and comple
tion of the intercepting sewer system.
Cole County, Mo.—B o n d Sale.—On December 31,1897, the
county sold $25,0(0 4% 5-20-year (optional) refunding bonds to
the First National Bank, Jefferson City, at 1<>() 50. One otherbid was received, that of Gaylord, Blessing & Co., St. Louis,
at 100*10,
Colton, Cal.—B e n d s D efea ted . —The proposition to issue
$20,000 water works extension bonds was defeated at theelection held December 27,1897.
Columbus, Ga.—B o n d s A u th orized . —On January 5, 1898,
the City Council passed, an ordinance authorizing the issu
ance of $50,000 4%% refunding bonds. These bonds are to be
issued in exchange for the bonds maturing as follows 1
$18,0 0 January 1. 1898, of which $1,(00 has been paid;
$16,000 January 1, 1899, and $19,(00 January 1,1900. All the
old bonds are dated January 1,1879, and bear 5% interest, and
$2,c6o will be paid in cash. New bonds will be in denomina
tions of $500, dated January 1, 1898, and mature January 1,
1928. Interest will be payable January 1 and July 1 at the
City Treasurer’s office. The ordinance provides that the
new bonds shall be issued to the holders presenting the old
issues whether “ they have matured or not.”
Culpepper, Ya.—B o n o s A u th orized b y S tate Sena te.— The
State Senate has passed a bill authorizing the Town Council
to refund its bonded indebted ness.
January 15. I8l8.j
Dickenson County (Ya.) Clintwood School District.—
Legislature has passed a bill au
thorizing the School Trustees to issue bonds for the comple
tion of a school house in this district.
District o f Columbia. - B o n d s P r o p o s e d . - A biU has been
prepared providing for the issuance ot ^35500j000 ponds for a
complete sewerage system and has been submitted to the
Secretary of the Treasury for his opinion. The bonds if is
sued will be in denominations of $500 and $1,C00, and bear 3%
interest The principal and interest will be exempt from
taxation by Federal, State and municipal authority. Bonds
will be subject to call after 10 years. It is proposed that the
United States Government shall pay one-half of the annual
amount to be raised for the payment of the interest and of
the principal at maturity.
Dodge County Independent School District No. 50,
Dodge Center, M inn—Bond Offering .—Proposals will be
received until February 7, 1898,. for $15,000 4% 15 year bonds.
Interest will be payable semi-annually at place to be desig
nated by bidder.
— B o n d s A u th orized .—The
The official n otice o f th is bond offering w ill be fo u n d am on g
the ad vertisem ents elsewhere in th is D epa rtm en t.
Duluth, Minn .— B o n d s V o ted .—At the special election held
January 12, 1898, the issuance of $1,250,000 5% 80-year bonds
to the Duluth Gas & Water Co. for the purchase of the Com
pany’s water plant was authorized by a majority of 2,180.
Duquoin, HI .— B o n d s P ro p o sed .—The City Council has
under consideration the question of issuing water-works
bonds.
.
1
.
,
Elk Point, S. D.— B on d O ffering .—Proposals will be re
ceived until 2 p. M. February 5, 1898, by H. L. Moore, City
Clerk, for $12,000 water-works bonds. Securities are in de
nominations of $500, with interest at not more than 5%, pay
able semi-annually at the American Exchange National
Bank, New York City, at which place the principal will be
payable 15 years from date of issue. Bonds are subject to
call after 5 years.
.
„
, „ ,
~ T
Elmwood Place (Tillage), Ohio.—Bond Sale.— On January
5, 1898, the $15,000 5$ water pipe bonds were awarded to the
Lamprecht Bros. Cq., Cleveland, at 112*20 and the $717 60 6$
street improvement bonds to C. M. Thurnauer, Cincinnati,
at 107-999. Following are the bids:
«16.0C0
Water-pipe bonds.
The Lamprecht Bros. Co., Cleveland..................... *16.830 99
Seasongood A Mayer. Cincinnati
....................... 16,762 50
Roberts & Hall, Cincinnati...................................... 16,653 00
S. A. Kean, Chicago.......... ....................................... 16,617 50
C. M. Thurnauer, Cincinnati ................................... 16,433 50
German National Bank, Cincinnati. . ..................... 16,426 00
Rudolph Kleybolte & Co., Cincinnati.................... 16,353 00
Edw. C. Jones Co., New York.... ............................ 15,170 00
Fred. Rieter. Elmwood.................................... ••• ..................
Hillsdale County, Mich.—B o n d E lection .— T h e Board of
Supervisors on January 8, 1898, decided to submit to a vote
of the people at the spring election the question of issuing
$45,000 bonds for a new court-house.
Hyattsville, Md.—B o n d s P ro p o sed .— This municipality
will petition the Legislature for authority to issue $25,000
water works bonds. Securities, if authorized, will bear 4%
interest and mature in 30 years from date of issue.
.
Ironton (Ohio) School District.—B o n d Offering.— Pro- Y
posals will be received until 12 M. January 24, 1898, by F. W. \
Ehrlich, Clerk of the Board of Education, for 20 5% coupon
refunding bonds of denomination of $500 each. Securities
are issued pursuant to Section 2834a of the Revised Statutes
of Ohio and a resolution adopted November 22,1*97. They
will be dated March 1, 1898. Principal will mature $2,000
annually on March 1, 1908 to 1912 inclusive. Principal and
interest will be payable at the National Park Bank, New
York. Interest is semi-annual. Bidders are required to de-.
posit certified check for $500.
Le Mars, Iowa.—B o n d S ale.— On January 3,1898, the City
Council sold $2,000 5% sewer extension bonds at 100*10.
Bonds are in denominations of $500 and mature one bond
yearly beginning April 1, 1899. Interest payable semi-an
nually at Le Mars.
Liberty, Mo.—B o n d s D efea ted .— On January 4, 1898, the
proposition to issue $45,000 5% 20-year water works and sewer
age bonds was defeated. The vote was 173 against 161 in
favor of the issuance of bonds.
Louisiana, Mo.—B o n d s P ro p o sed . —A resolution was re
cently passed by the City Council instructing John W. Matson to inquire into the feasibility of refunding the city’s
bonded debt.
j
Lynn, Mass.—T em p ora ry L oa n . —The city has negotiated
a ten months loan of $100,000 with Bond & Goodwin, Boston.
Massachusetts.—B o n d Sale.—On January 13, 1898, the
$2,000,000 3%% “ Metropolitan Water Loan” bonds and $500,(¡00 3Vck bonds for the abolition of grade crossings were
awarded to E. H. Rollins & Sons, Boston, at 113*176 and
110*136, respectively. Following are the bids:
/
Water
Loan.
E. H. Rollins A Sons, Boston..........................................
Vermilye & Co., New Y ork .............................................
Kidder. Peabody & Co., Boston....................................... ] J® 835
Kuhn, l,oeb A Co.. New York......................... ......... -•- -1J2*3<0
R. L. Day & Co.. Boston .. .........................................
E. Rollins Morse A Co , B o sto n .................................. i l l ’l l ?
«717 60
Leland, T wle & Co., Boston................................ ......... }99"i?9
Street bonds. Jos. E. Gavin, Buffaio .......................................... ......... 109*060
Adams A Co., Boston.......... ............ ...........................................
John F. Burt, Boston........................................... . — •'.............
J. A W. Seligman, New York................. .......................... •■• ••
767 19
.....109*677
Do
do
($500,000)...........
776-00
Do
do
($500,000)
109*877
771-42
Do
do
($500,000)............. ...'........110129
Do
do
($500,000)....................
110*369
........
Water-pipe bonds mature January 4,1923, and the streetimprovement bonds 1-10 yearly, beginning December 15,
1897. Interest will be payable at the German National
Bank, Cincinnati. For further description of bonds see
C h r o n ic l e December 11, 1897, p. 1137.
Fairmont, M inn.-Bond O ffering .—Proposals will be re
ceived until 8 P. M. January 15, 1898, for $10,000 5% bonds.
Securities are in denominations of $1,000, dated January 1,
1898. Interest will be payable February 1 and August 1, in
Chicago or New York City. Principal matures $1,000 yearly,
beginning August 1, 1898.' Securities are issued under Title
3, Chapter 10, Sections 1224, 1232 to 1287 inclusive, and were
authorized by vote October 8,1897.
Fitchburg, Mass. — T em p ora ry L o a n .— Th« city has nego
tiated a nine-months loan of $50,000 with Bond & Goodwin,
Boston, at 3%. This is part of the $450,000 loan authorized
the first of the year in anticipation of the collection of taxes,
and loans will be made from time to time, as money may be
needed for current expenses.
,•
nnn
B o n d Sale .—The city has placed $15,000 sewer bonds, $7,000
sidewalk bonds and $5,000 street construction bonds in the
sinking fund at par.
_
.|
Fitzgerald, Ga.— B o n d O ffering.—T. S. Price & Co. write
that they will receive bids for $9,000 (or less) 3% 15 year
school bonds.
.
. Gallipolis, Ohio.—B o n d O ffering .—Proposals will be re
ceived until 1 P. m . February 10, 1898, by T. E, Bradbury,
City Clerk, for $9,01)0 5% refunding bonds. Securities are
issued pursuant with Section 2701, Revised Statutes of Ohio,
and authorized by ordinance passed December 20, 1897. In
terest will be payable February 25 and August 25 at the City
Treasurer’s office. Bidders must deposit with each bid in
money or by certified check 3% of the amount of bonds bid
for.
_
Garfield County, Utah.— R efu n d in g B o n d R esolution R e
s c in d e d —On December 31, 1897. the County Commissioners,
it is stated, rescinded a resolution passed recently authorizing
the issuance of $1,200 refunding bonds. It is reported that
part of the new bonds has already been sold.
Gravesend (Brooklyn), N. Y.— B o n d s A w a rd ed .—The $300,000 4% local-improvement bonds were awarded to Rudolph
Kleybolte & Co., New York, at their bid of 105. This bid
would seem to be much below several of the bids reported in
last week’s Chronicle, but it is stated that those which ap
pear higher were intended as premiums in dollars for the
aggregate amount of bonds, and not as per cent bids.
Harriman, Tenn.— B o n d Sale .—On January 10, 1898, the
$5,500 6# 10-30-year (optional) gold electric-light plant bonds
were awarded to S. A. Kean, Chicago, at 100*25. For further
description of bonds see Chronicle Dec. 25. l p97. p. 1233.
149
THE CHRONICLE.
Grade Cross
ing Bonds.
110*136
110*058
109*945
109*510
109*417
108*970
106*597
iïd'048
109*297
108*777
.......................
.......................
.......................
The bonds, it willbe seen, were negotiated on about a 2*94#
basis. The water loan matures January 1, 1938, and the
grade-crossing bonds January 1, 1923. For further descrip
tion of bonds see Chronicle January 8, 1898, p. 99.
Medford (City) Mass - B o n d S a le .- On January 10,1898,
the $100,000 4% bonds were awarded to Estabrook & Co., Bos
ton, at 109*089. Following are the bids :
Estabrook & Co.,'Boston........... 109*0891 Longstreet. Stedman & Co., Bos.108*37
Geo. A. Fernald & Co.. Boston...107*82
Blake Bros. A Co., Boston........ 10'*84
R. L. Dav A; Co., Boston............108*799 | Mason, Lewis A Co., Chicago... -107*797
Adams & Co., Boston
. . . ---- 108*7 6 i C. H. White A Co. ($50.000) ......107*78
N. W. Harris A Co., New York 1Oh*625 E. H. Rollins A Sons. Boston... .107*772
E. H. Gay A Co., Boston......
-107*769
Third National Bank................ 108*57
Parkinson A Burr, Boston........ 108*50 I Dietz, Dennison A Prior, Cleve..l07*71
Blodget. Merritt & Co., Boston.108*433 Leland Towle A Co., B oston...,. 107181
Harvev Fisk A Sons N. Y.........108*385 I
Bonds mature January 1, 1918. For further description of
bonds see C h r o n ic l e last week, p 99.
Methuen, Mass.—Rond Sale.— 'The “ Boston News Bureau
reports that the $20,000 4% 30-year coupon water bonds were
awarded to R. L. Day & Co., Boston, at 110*939. Following
are the bids:
R. L. Day A Co., Boston........... 110*939 N. W. Harris A Co., Boston......109*876
Blodget, Merritt A Co., Boston. .110*72 Estabrook A Co.. Boston........... 109*65
E. H. Gay A Co., Boston............110*29 E. H. Rollins A Sons. Boston... .109*157
Bond A Goodwin, Boston......... 110*055 Blake Bros. A Co., Boston.........108*150
Millvale, Pa — B o n d E lectio n .— The/ Council has passed
over Burgess W. A. Young’s veto the resolution calling an
election to beheld February 15, 1898, to vote on the question
of .issuing $25,0'0 sewer bonds.
Minneapolis (Minn.) School Distri<ft.— T em p ora ry L o a n .
—The Board of Education oh December 20, 1897, negotiated
a 3% note of $70,000 with Geo. B. Lane, Minneapolis, at 99*50.
Note matures June 30, 1898. Other proposals were received
for the loan, and the bidding, it is stated, was very close.
Mitchell -Irrigation District, Scotts Bluff County, Neb.
-B on d s V oted .— The district recently voted to issue bonds
for irrigation purposes. But one vote was cast against the
proposition.
m ,,
Mobile, Ala.—B o n d N e w s.— O n January 10, 1*98, the Gen
eral Council authorized the Sewerage and Water-wor,_~
Commission to sell tbe $750,000 bonds voted last August,
terest is to be at not more than 4%%.
Mount Healthy, Ohio.—B o n a Sale.—Following are the
bids received January 11, 1898, for the $4,959 39 3% sidewalk
bonds:
Atlas National Bank, Cincln
109*00 I Chas. A. Thurnauer, Clncinnati.l08*2S
Edw. C. Jones, New York....... 108*89 S. A. Kean, Chicago................... 167 126
Western National Bk.. Cincln....108*35 1
Award will be made January 17, 1898. Bonds mature
$495 94 yearly, beginning January 2, 1899. For further de
scription of bonds see C h r o n ic l e December 18, 1897, p. 1190.
Mount Vernon, N. Y .— B ond O fferm g .—Proposals will be
received until February 1, 1898, for $22,000 ft# tax relief
*boT>d=t.
Sr<'Ti”tM35’ ~r-"” b * ’ t il'Tii.-i.i
••£•1 0 0 .>
150
THE CHRONICLE,
[V ol , LX V L
,
Tenn.—P ro p ositio n D efea ted . —At the election
St. Paul (Minn.) School District.—N o L o a n N egotiated —
held December 81, 1897, the proposition to subscribe $800,000
to the capital stock: of the Nashville & Knoxville RR. was We are officially advised that this district has not negotiated
$7^ 000’ as had. been currently reported. Mr. J J
defeated, lacking the necessary two-thirds vote. The vote M^r*n°Jie
ComPti ° ? er>says that “ the fellow who started
was 2,796 for and 2,828 against.
New Haven, Conn.— T em porary L o a n . —In the Chronicle / that news item must have been private secretary to the
+ w llive£ s Travels.’ We are in such condition
last week we reported that the city had borrowed $1,000,000 fining
F* ®* Moseley & Co. at 3%. Mr. Benjamin E Brown, financially that we do not need to borrow money. Our svsCity Comptroller, writes as follows concerning this loan: “ To m?io0nnfS? K i n X \e-VyCe/ i ificat^S ° l indebtedness in antici
anticipate taxes laid for the present fiscal year the city has pation of the collection of taxes is the only system by which
short-time paper, and this only at clrtaffi
borrowed $1,000,000, more or less, from F. S. Mosely & Co. f t a n y
of Boston at a rate of 3% per annum, the interest to follow SSS h S S 0? - ™ - [The $J 0’000 loan here referred to was
the notes and the money to be borrowed from month to hea?—ED]by Mlnneapohs’ and win he found under that
month as may be required. There was no advertised bid
for the loan, but the money so borrowed will mature on or
Ana’ V&l.— B o n d E lection .— A proposition to issue
sewer bonds m il be put to a vote of the citizens o f
about September 10 and will be payable in Boston from BosSanta
Ana
on February 5, 1898.
ft?*®?**8* You will understand, of course, from the above
Sault Ste. Marie, Mich.—B o n d O ffering.— Official notice
that the money is held against a draft that might be made
tor such amounts as may be required in January, February, has just been received changing the date on which bids will
March and the succeeding months until the first of Septemth‘L*?4'264 84 5 % $ special assessment pitting
ber. _Mr. Brown says he considers the loan a very desirable bonds and also their maturity. Proposals will now be re
c
eiv
ed
until
2
p. m . February 1, 1898, by G. G Scranton
one. The first note of $250,0,0 has been received by the New
Comptroller. Securities will be dated February 1, 1898?and
England Trust Co.
North Milwaukee, Wis.—B on d E lection .— T h e election for mature hs follows : $1,764 86 on February 1, 1899, and $2 5C0JRur^ose
voting upon the question of issuing from fo rr<MiSnreaffcf Until February 1, 1908; A certified cheek
$8J00 to $5,000 6# funding bonds will be held January 25, SoA$iS°o0, muAst accompany bids. Total debt at present is
1898. Bonds if issued will be in denominations of $500, with $ 4 2 0 , 2 3 . Assessed valuation, $4,906,968.
Sevier County, Tenn.— B onds A u th o r iz e d .—The County
interest payable semi-annually. Principal will mature $1,000
Court; has voted to issue $35,000 bonds for the building of a
two years from date of issu© and $1,000 yearly thereafter.
»aiming or a
Paulding County, Ohio—Bond S ale.— On January 7,1898, pike to join with the Knoxville Pike.
$9,440 5% bonds for the improvement of various ditches were
Siu lb/ - JCounty <P* °- Sidney), Ohio.—Bids.—Following
awarded to Shasongood & Mayer, Ciucinnati, at a price not are the bids received January 4, 1898, for the $8,800 U ditchimprovement bonds. As stated in last week’s C h r o n ic l e
stated. Other bids were as follows:
were awarded to W. J. Hayes & Sons, Cleveland,
W. J. Hayes & Sons. Cleveland..$0,^32 I Pauldinsr Dennsit Rnnir
kvk
at 109'46.
’
*
Farmers’ Banking Co.. Paulding. 9,603J
p
...............
Interest will be payable January 1 and July 1 at the County W. J. Hayes & Sons, Cleve__ $9,632 50 |The New First Nat nv fni *o bus m
Seasongood
&
Mayer,
Clncln
9,64*
00
[
Ptqua
National
Bank
’.Co1'
‘
*
9 ’5 5 0 00
Treasurer’s office. For further de cription of bonds, together
Clev. 9,598 00 I German-Amer’n Bk„ Sidney * 9’ lbo 00
with the dates of maturity, see Chronicle last week, p. 100. Edw. O. Joies Co., Cincinnati. 9,592 00 |Citizens’ Bank, Sidney.... . 9)245 OOP iatt County (111.), Sangamon Township.— R efu n d in g
Sing Sing, N. Y.—B o n d s A u th o rized . —The Board of Trus
B o n d s Proposed* —The question of refunding the outstanding tees have authorized the issuance of $10,000 4% 1 10 vears
3% bonds with 4 ^ or 5 per cents is being discussed by the street improvement bonds.
3
citizens of the township.
South Hadley, Mass.—T em p ora ry L o a n .—It was rePittsburg, Pa.—B o n d Offering.— Proposals will be received ported recently that the town had negotiated loans to
until 12 m . January 25, 1898, by H. I. Gourley, City Comp the amount of $10,000. We are officially advised that the
troller, for $693,0.0 registered coupon bonds to be known as loans were m the form of two notes of $5,000 each and were
“ Refunded Water Extension Loan.” Bids are invited for issued m anticipation of the collection of taxes. They maboth 3*4$ and .4% bonds. As stated in the Chronicle of Nov
8eyen and five months respectively, and bear interest
ember 27, If"97, these bonds to the amount of $963,(»00 are at 3%% and 3 4-10$.
issued to redeem in part $2,398,000 water bonds maturing
Spokane, Wash.—Born* Offers.— T h e Sinking Fund Com
April 1,1898. Details of securities will be found in Chron missioners have received several offers for the $300,< 00 bonds
icle of same date. The remaining $270,000 of the new bonds to be issued for the purpose of retiring outstanding warrants.
are redeemable March 1, 1899, 1900 and 1901, and these will Morns & Whitehead, Denver, have offered to take the bonds
be taken by the sinking fund. Certified check on a Pittsburg at par bearing 5y2% interest. C. H. White & Co., New York,
or any national bank for $10,000 must accompany each bid.
have offered par for 5 % per cents and a premium for
/2,
Poauonock, Conn.—L o a n A u th o r iz ed .— At a town meeting bonds.
held January 8, 1898, the Selectmen were authorized to bor
Springfield, Ohio.—B o n d Sale.— On January 4, 189*, $3,*
row $8,000 to meet current expenses.
926 u5 3% coupon bonds were awarded to Seasongood & Mayer
Racine, Wis.—B o n d Offering — The City Treasurer has Cincinnati, at 105‘73. Following are the bids:
been authorized to issue $25,0n0 school bonds. Bids will be Seasongood & Mayer, Cincinnati. 105-73 IRudolph Kleybolte Sc Co., CinIrollrath, Springfield.....................105-63 I cinnati....................................... 104-45received until 2 p. m . March 3,1898.
Following are the bonds:
Rahway, N. 3 .— B o n d O ffe r in g .- Proposals will be received $*82
03 Grani Avenue imp. bonds.
$219-02 William Street imp. bonds.
228-53
Mary Street imp. bonds.
I 2lt*24 Euclid Avenue imp. bonds.
until 8 P. M. January 17, 1898, by the Board of Finance at the 778'2 .‘ Ludlow
Avenue imp. bonds.
1,179*24 Pleasant Street imp. bonds.
139*01 Bell Avenue imp.'bonds.
ilo ’OtJ Warder Street imp. bonds*
City Treasurer’s office for $35,000 school bonds, Interest will 639*70
Maiden Lane imp. bonds.
be payable January and July and the principal will mature
Principal of each series will mature one-fifth yearly. For
20 years from date of issue. Bids are asked for bonds bear further description of bonds see C h r o n ic l e Jan.4,1898, p. 49.
T em p ora ry L oa n s. —The Finance Committee has been au
ing 4%, 4%% and 3%. A certified check for 5% of the amount
thorized to borrow $3,66175 for three months at 3% for sundry*
of the bid must accompany proposals.
funds.
The official n otice o f this bond offering w ill be fo u n d am ong
B o n d s P roposed. —A resolution has passed the Council
the advertisem ents elsewhere in th is D epa rtm en t.
recommending the passage of a bill by the Legislature pro
viding
for the issuance of $15,000 30-year bonds for the exten
Riley County, Kan.—B o n d Sale.—The county has sold to
Spitzer & Co., Toledo, $95,000 5$ refunding bonds at 101'052. sion of water mains.
Bonds are in denominations of $1,000 dated January 1, 1898 • Stephens County, Texas.—B o n d Sale.— On January 4,
interest payable January 1 and July 1 at the State Fiscal 1898 , the State School Board purchased $3,000 bridge bond»
Agency in New York City. Principal matures January 1 of this county.
Stevens Point, Wis.— B id s. —Following is the complete
1928; optional after January J ,1910.
Roanoke, Ya.—B o n d s A u th o rized b y the H ou se o f Dele list of bids received November 30, 1897, for the $7,500 5% park
g a tes.— The State House of Delegates has passed a bill au bonds, awarded, as stated in the Chronicle December 25,
thorizing the City Council to redeem $15,000 bonds issued in 1897, to Farson, Leach & Co., at 103 02:
1882 by the town of Roanoke, and to borrow money and issue Fars°n,Leach & Co.. Chicago....103-02 IJ. D. Cleghorn & Co., Minneap’s .101-21
Dietz, Denison & Prior, Cleve....102 06 Citizens’ Nat. Bk., Stevens Pt....l00.
bonds for this purpose.
Mason, Lewis & Co., C hicago 101-93 I
St. Cloud (City), Minn.— T em porary L o a n .— On January 1
Bonds mature $1,000 yearly, running 7 ^ years. Interest
1898, the city negotiated with the First National Bank of St! payable semi-annually at Stevens Point.
Cloud a $10,000 5% note at par. Note is dated Januarv 1
Syracuse, N. Y. — B o n d s P rop osed . —A bill has been intro
1898, and matures July 1,1898.
’ duced inti) the Legislature authorizing the city to issue $15,m* St. Joseph (Mo.), School District—B o n d Offering^— Pro- 000 bonds for the purchase of Sherwood Park.
•posals will be received until 4 p. m . January 20, 1898, by
Tazewell, Ya.— B o n d s P ro p osed .— A bill authorizing thd
Harry H. Smith, Secretary of the School Board, for $100 0'0 issuance of bonds by this corporation for a water system has
4% refunding bonds. Securities are issued under section 7983 been introduced in the State Senate.
Revised Statutes of Missouri of 1889, as amended April 11’
Toledo (Ohio) School District.—B o n d Offering.—At a
1895, for the purpose of refunding 5% renewal funding bonds meeting of the School Board held January 10, 1898, the issu
dated March 1, 1890. New bonds are to be dated March 1, ance of $90,000 4% bonds was authorized. Bonds will be in
1898; interest payable semi annually. They will mature 20 denominations of $1,000 and one-half will mature in 25 year»
years ifom date of issue, % being subject to call after 5 and one-half in 30 years from their date. Bonds will be of
years, % after 10 years and % after 15 years. Bonds will be fered for sale March 7, 1P98.
in denominations of $1,000 and $500 and interest will be pay
T em p ora ry L o a n .— On January 10, 1898, the School Board
able in St. Louis or New York City, at the option of the pur authorized a loan of $27,500 to meet a $1,500 note due Jan
chasers. A certified check for $500, payable to the school uary 15, 1898, and $26,0C0 note due January 23, 1898.
district, must accompany bids. Bids will only be received for
Trenton, Mo.— B o n d Sale Confirm ed.— O n December 10,.
the entire amount.
1897, the city voted to refund $37,000 5# bonds with a like
January 15, 1898.]
amount of 4% per cents.
As stated in the Chronicle Octo
ber 23, 1897, these bonds were sold to the Eads Brokerage
Co., of Kansas City, at l r0'25. A description of them will
be found in the issue of the Chronicle of that date.
Unadilla, 6a.— Bonds V o te d .— The people of this village
have authorized the issuance of $4,000 water-works improve
ment bonds.
•
Vailsburgli, N. J . — B o n d E lection .—A special election
will be held February 23, 1898, to vote on the question of
issuing $40,< 00 bonds for the purpose of securing a water
supp y and $3 '»,('00 bonds to purchase the right to join the
proposed South Orange sewer system.
Yicksburg, Miss.— B on d s P ro p o se d .—The Corporations
Committee of the State Senate has reported favorably on Seaate Bill No. 9, giving Vicksburg power to issue $25,0 0 bonds
for building a medical department of the State University.
Vinton, Iowa .— B o n i s Voted. — The district recently voted
to issue $21,0 0 bonds for a new school building, the old one
Having been destroyed by fire.
Warren County (P. 0. Vicksburg), Miss.— B o n d Offer
in g .— Proposals will be received until February 7,1898, for
$15,500 5% 20 year refunding bonds. Securities are issued to
refund a like amount of Mississippi Valley & Ship Island Rail
road aid bonds maturing February 3,1898. Interest will be
payable annually at a local bank.
Waterbury, Conn.—B<md Sale .—We are advised by R. F.
Grady. Ctty Clerk, that the Selectmen have sold at private
sale $45,0QJ court house bonds.
Wayne County, Mich.— B on ds P ro p o sed .— T h e question of
issuing $200,<0i) bonds for the completion oi the county build
ing is under consideration.
West Liberty, Iowa ,— B o n d Offering .—-Local press reports
state that bids are asked for $9,500 refunding water-works
bonds. Debt of town is $19,000 and the assessed valuation
$402,000.
West Orange, N. J .— B o n d s D efea ted .— On. January 12,
1897, the proposition to issu9 $50,000 bonds for a high school
was defeated.
Williamsport, Pa .— B o n d E lection .—The Council of this
city has under consideration the question of calling an elec
tion to vote on issuing $45,000 electric-light bonds.
Winkinsburg, Pa .— B on d O ffering .—Proposals will be re
NEW
C ITY
LOANS.
OF T O R O N T O
C O R P O R A TIO N LOAN.
ISSUE OF £218,000 STERLING SH%
GENERAL CONSOLIDATED LOAN
DEBENTURES, EQUIVALENT
OF $1,036,600.
^Redeemable 1st July, 1 9 2 9 .
Sealed tenders will be received at the City Treas
urer’s Office, City Hall, Toronto, Canada, at or before
three o’clock P. M., on Tuesday, the 25th day of
January, 1898, addressed to the Chairman of the
Board of Control, and endorsed “ Tenders for City
of Toronto 3}4 per cent Debentures,” for the pur
chase of $ 1 ,0 3 6 ,6 0 0 , or its equivalent in Sterling
at par of exchange (£ 2 1 3 ,0 0 0 ) General Consol
idated Loan 3% per cent Debentures, maturing 1st
July, 1929.
The Debentures will be made payable in Canadian
Currency in Toronto, cr in Sterling in London, as the
purchasers desire, with coupons attached payable
half-yearly- 1st January and 1st July. The interest
accruing from 1st January, I8 <h, to date of delivery
of bonds to be paid by the purchaser.
Tenders will be received for the whole or any por
tion of the Debentures, and the purchase money
will be payable as follows: Five per cent on allot
ment ; balance on the delivery of the Debentures.
The Debentures will be delivered to tbe party
whose tender is accepted at tne City Treasurer's
«Office in Toronto, tbe proceeds of tbe sale being pay
able in Canadian Currency, or, if tbe Debentures be
taken in Sterling, at the par of exchange at the said
place of delivery ; but, ir tenderers desire, they may
specify than payment of equivalent amount will be
made in sterling in London, and the Corporation
will deliver the Debentures against payment there
>on being indemnified for the stamp duty and tbe
cost of transmission and insurance, the latter not to
exceed one eighth of one per cent.
Applicants are required to lurnish the names of
personal or corporate sureties for the due fulfilment
of their tender, if accepted.
Tenders will be opene1 at a meeting of the Board
•of Control of the Corporation of tbe City of Toronto
in the presence of such of the applicants as may
attend.
The highest or any tender not necessarily accepted.
Full information can be obtained on application to
the City Treasurer.
R. T. COADY,
JOH N SHAW,
City Treasurer.
Mayor (Chairman Board of Control).
City Treasurer's Office,
City Hall, Toronto, December 27th, 1897.
W . J. Hayes & Sons,
BANKERS,
'DEALERS IN MUNICIPAL BONDS,
Street Railway Bonds, and other high-grade In
vestments.
BOSTON, MASS.,
Cleveland. Ohio.
TExchange Place.
3 1 1 -3 1 3 Superior St.
OaMt Address. "KENNETH.”
151
THE CHRONICLE.
ceived until 2 p. M. January 22, 1898, for $15,000 4# street-im
provement bonds. Interest will be payable at the First Na
tional Bank, Winkinsburg, and the principal will mature
one bond every other year for 5 years and then one bond
yearly until paid.
Yonkers, N. Y.— B o n d s P r o p o se d .—A bill has been intro
duced in the State Senate authorizing the city to issue $25,000 bonds to refund those issued for the grading of South
Broadway.
S T A T E AMD C IT Y DEBT CHANGES.
We subjoin reports as to municipal debts received since
the last publication of our State and City Supplement.
Some of these reports are wholly new and others cover items
of information additional to those given in the Supplement
and of interest to investors.
Appleton, Wis.—The city is the county seat of Outagamie
County.
Bonded debt Dec. 10, ’97 $34,000
Assessed valuation, real.3,584,750
Assessed valuation, per’l 725,145
Total valuation 1 89 7 ....4 ,3 0 9 ,8 9 5
State, county, city tax rate.$23*50
School tax (perM.).$8*70to $11 70
Population in 1890 was.......11,869
Population in 1897 (est.).. .16,000
Bethel, Me.—J. V. Purington, Treasurer.
Oxford County.
This town is in
LOANS—
When Due. Assessed valuation, real.$621,867
Assessed valuation, per’l. 197,837
4s, J&J, $30,000........... 1908-1932
($1 ,0 0 0 yearly on Jan. 1.)
Total valuation 1 8 9 7 ..... 819,704
Assessed at about full value.
Bonded debt Jan. 1 ,18 9 8.$ 3 0,00 0
Floating debt . . . ............1
5,760 Tax rate (per $1,000) 1897.$14*0,0
Total debt J an. 1 ,1 8 9 8 .... 35,760 Population in 1890 w a s ...l.Y ,209
Sinking fu nd assets....... 12,000
Population in 1897 (e&t.).... 2*200
Net debt Jan. 1 ,1 8 9 8 .. .... 23,760
Canton, Conn.—J. H. Bid well, Treasurer.
Hartford County.
This town is in
LOANS—
When Due. I Casta, sinking fund, etc..
$5,050
Notes, $5,000................................................1900 |Net debt, Deo. 1 ,1 8 9 7 .. 23,950
“
5,0('0.......................... .1905 I Assessed valuation 1897.1,180,000
“
5.000...................... 1910 Assessm’t about 65%.aatiial value.
«
7 ,00 0 ........................... 1915 |Tax rate (Town) per M.
Funded debt Dec. 1 . ’97.. $22,000
1897.........................
$13*00
F loatin g debt (due July 1,
I Population 1890................
2,500
1 8 9 8 ) ,- .- .......................
7,000 I Population 1897 (est.)...
3,000
Total debt Dec. 1 ,1 8 9 7 ..
29,000 |
N E W LOANS.
$ 3 5 ,0 0 0
C IT Y OF R A H W A Y , N, J.,
SCHOOL BONDS.
THE CITY OF RAHWAY asks for Proposals for
the sale of $ 3 5 ,0 0 0 School Bonds, payable in gold
twenty years from date, with interest payable semi
annually in January and July of each year.
Bids are asked for said bonds beariDg interest at 4
per cent, 4J4 per cent and 5 per cent per annum. No
bids under par will be considered. The bonds will be
coupon bonds, but may be changed into registered
bonds at request of the bolder.
Bids will be received by Board of Finance of the
City of Rahway and the Finance Committee of the
Common Council, at the office of the City Treasurer,
on the
SEVENTEENTH DAY OF JANUARY, 1898,
at the hour of eight o’clock P. M. Each bid must be
accompanied by a certified check for 5 per cent of
the amount of the bid.
Any information will be furnished by
ROSS VANDERHOVEN,
. City Treasurer, Rahway, N. J.
$ 3 1 ,0 0 0
FK AN K LIN , KENTUCKY,
5 PER C E N T BONDS.
n o t ic e o f b o n d s a l e .
NEW
LOANS.
ST. LOUIS, M ISSOURI,
BOND CALL.
Mayor ' s Office,
>
ST; Louis , August 7th, 1897 S
TO WHOM IT MAY CONCERN:
Notice is hereby given that the bonds of the City
of St. Louis, issued under authority of Ordinance
No, 13,061, numbered from ninety-eight hundred
and eighty-four (9884) to ten thousand five hundred
and three (10503) both inclusive, will be redeemed
on the second day of February, eighteen hundred
and ninety-eight, pursuant to the terms of said
Ordinance No. 13061, and the terms expressed in
said bonds, and that said bonds will cease to bear
interest on said second day of February, 1898. Said
bonds are dated February 2d, 1885, are payable Feb
ruary 2d, 1905, and are redeemable at the option of
the City of St. Louis at any time after ten years
from their date.
Each of said bonds, when presented for redemp
tion, must have the fourteen unearned semi-annual
interest coupons, numbered from twenty-seven to
forty, inclusive, attached.
These bonds are called in for the purpose of per
manent retirement.
HEY. ZIBGBNBSIK.
Mayor.
L. 8.
ISAAC H. STURGEON,
Comptroller.
Attest:
HY. BESCH,
Register
Carthage Water-Works Co.
OF
Carthage, Missouri.
Information wanted as to owner of bonds of, Car
Notice is hereby given that up to noon on January thage Water-Works Company dated February 18
28,1898, the City of Franklin, Ky , will receive sealed 1888, due July 1,1901, and numbered 1, 56,5f, 68, 59
bids on its $ 2 1 ,0 0 0 five per cent bonds, issued for
60 and 95. Please address
Water-Works. Interest payable semi-annually.
J. S. H. FRINK,
1 Trustees
Bonds mature $1,000 yearly from 1899 to 1909, and
G. RALPH LAIGHTON, J ATnB06e8'
$10,000 at the pleasure of the city after 1H0. A
Portsmouth, N. H.
certified check of $1,000 must accompany each bid,
as an evidence of good faith. Bids will be publicly
$ 1 5 ,0 0 0
opened at noon on above date. Bonds will be sold o
tbe highest and best bidder, and no bid shall be ac
cepted at a price less than par. All bids must be
directed to the Mayor of said city. For further par
Proposals for tbe sale of $ 1 5 ,0 0 0 44 16-year
ticulars address
mds of Independent School District No. 50, Dodge
M, S. HARRIS, Mayor,
junty, Minn., will be received by the Clerk of said
Franklin, Ky
Istnct until February 7, 1898. Interest payable
tmi-annually and with principal payable at place
ssignated by bidder.
........
A stive and Local Securities bought and sold to ad
The right to reject any or all bids reserved.
M. R. DRESBACH, Clerk.
vantage. Atlantic Mutual Scrip. Circulars.
District. N<V 50,
Dodge Count*. Mran.
J. P. Wintringliam, 36 Pine St., N. Y
)0DGE COUNTY, M INN.,
4 PER C E N T BONDS.
152
THE CHRONICLE.
Cole County, Mo.—F. W. Roer, County Clerk.
»eat is Jefferson City.
LOANS.
F
u n d in g
When due.
B
on d s—
5s, Jan., $ 1 6 ,0 0 0 ....... Jan. 1 ,19 0 8
Subject to call after 1903.
Co
H
urt
B
ouse
on d s-
48, J&D, $60,000....... June 1 ,1 9 1 6
Optional after 1906.
R
B
e f u n d in g
on d s-
48, .......... $25,000........ Jan. 1,19 1 8
Subject to call after 1903.
The county
Interest payable at Jefferson City.
Bonded debt Jan. 1,1898.$101,000
Assessed valuation 1896.4,748,438
Assessment about x4 actual value.
State & Co. tax (per $1,000) $9-00
Population in 1890 was...... 17,281
Population in 1880 was...... 15,515
Population in 1896 (est.) ...2 1 ,0 0 0
Dublin, Ga.—Mercer Haynes, Clerk City Council
city is the county seat of Laurens County.
LOANS-
Sohool bonds, 1 8 8 7 ............$7,000
Light and water bonds, ’96. 25,000
Munio. improv. bonds, ’9 7 .. 12,000
Bonded debt Deo. 1 3 ,’9 7 ... 44,000
Floating debt........................ 3,000
This
Fairmont, Minn.—This city is the county seat of Martin
County.
Bonded debt Deo. 1,1897. $20,000
Assessed valuation 1897. 383,000
Assessment about 2 5 actual value.
Tax rate (per $1,000) 1897.$38’60
Population 1890...................... 1,205
Population 1897 (est.).......... 2,800
Gonzales County, Tex.—F. F. Wood, County Treasurer;
D. M. Livingston, Tax Assessor. County seat is Gonzales.
The $59,0JO court-house bonds belong to the school fund of
the county.
LOANS—
Co u
H
rt
When Due.
ouse
B
on d s—
6s, Apr. 10, $59 ,0 00 .May 1 7 ,1 9 2 4
(Optional after 1899.)
J
a il
B
on d s—
6s, Apr. 10, $10,000.Nov. 10,1901
Subject to call.
Interest is payable at Gonzales.
Bonded debt Jan. 4, ’9 8 ...$ 6 9 ,0 0 0
Floating debt.....................
3,548
Total debt.......................... $72.548
Sinking fund assets.......
7,386
Net debt Jan. 4 ,1 8 9 8 ....
65,162
Tax valuation, real.........3,163,160
Tax valuation, personal.2,742,770
Total valuation 1897___ 5,905,930
Assessment about 23 actual value.
Tax rate (per $1,000).............$8-75
Population in 1890 was___ 18,016
Population in 1898 was___ 25,000
H a llo w e ll, Me.—G. A. Safford, Mayor; Charles K. Tilden,
Treasurer. This city is in Kennebec County.
LOANS—
Sc h o o l
. When Due.
bonds
—
4s, M&N, $5,000........Nov. 1,1903
($1,000 due yearly) to Nov. 1,1907
Refunding 1893—
4s, M&N, $15,000.Nov., 1908 to ’22
W
a te r
B
ond s—
4s, J&J, $50,000....... Jan. 1 ,1 9 1 8
(Subject to call after 1908.)
NEW
$40,500
18.000
11.000
36.000
40.000
5.000
4.000
.15,000
20,100
Total debt Jan. 1 ,1 8 9 8 .. $70,000
560
Sinking fund.....................
Net debt Jan. 1 ,1 8 9 8 ....
69,440
Tax valuation 1897......... 1,522,261
Assessment same as actual value.
Total tax (per $1,000)......... $17‘00
Population 1890 was.............. 3,181
Population 1898 (est.)............ 3,500
LOANS.
Braddock, P a ....................... 4J^s
Sandusky, Ohio....................5s
College Point, N. Y ............. 4s
Newtown, N. Y ..................... 5s
East Providence, R . I .... ...4s
Quincy, Mass...................'...4s
Portsmouth, Ohio...............4V£s
Meridian, Miss......................6s
Bradford, P a ..................... ...4s
F O B SALE B Y
Rudolph Kleybolte & Co.,
35 and 37 Nassau St., N ew Y o rk .
Hennepin County, Minn.—A. W. Hastings, Treasurer.
County seat is Minneapolis.
LOANS—
Ct. H
ouse
When Due.
& Cit
H
r id g e
B
Oth
er
B
on d s—
4 ^ 8 , J&D, $ 15 ,0 0 0 ...Dec. 1 ,19 1 9
TAX FREE. All of the bonds
from taxation.
Lockport, N. T.—Charles Peterson, Mayor; J. C. Harring
ton, Treasurer. This city is situated in Niagara County.
LOANS—
R
a il r o a d
B
When Due.
Sc h
Port Gibson, Miss.—Thomas M. Rea, Clerk.
the county seat of Claiborne County.
LOANS—
ool
B
on d s—
This city is
When Due.
Total valuation 1897.......$724,883
Assessment about 3*. actual value.
Tax rate (perM.) ’97 (city
6s............ $23,000........Aug. 2 ,1 9 1 7
and school)......................
$8.75
Bonded debt Aug. 2, ’9 7...$2 3 ,00 0 Population 189 0 ................
1,524
Assessed valuation, real..351,520 Population 1897 (est.)-...
2,000
Assessed val. personal.......373,363
W
ater
ig h t
L
W orks
B onds -
and
E
l e c t r ic
IN VESTM EN TS.
IN VESTM ENTS.
Investment Bonds
PUBLIC SECURITIES
FOR
SUITABLE FOR
New York Savings Banks
SAVINGS BANK AND T R U S T
and Trustees.
FUNDS.
L IS T S S E N T U PO N A P P L I C A T IO N .
MEMBERS OF BOSTON AND NEW YORK
STOCK EXCHANGES.
R. L. D A Y & CO.,
LISTS MAILED ON APPLICATION.
Farson, Leach & Co.,
CHICAGO,
100 Dearborn St.
NEW Y O R K ,
2 W all St.
ADAMS & COMPANY,
BANKERS
Oueens County, N. Y., Gold 4s,
Troy, N. Y ............................... .......... .....3^s
Maturing in 19 17.
Farmington, N. H..................;................4s
Registered or Coupon.
Sedalik, Mo...................................
4%s
South Omaha, Neb.. . ....................
5s
Assessed Valuation .................................. $85,345,111
Astoria, 111............................................. 5s
Total Debt..........
............. .............. 3,634,000
Momence, 111 .
As
Population, 150,000.
Trinidad, Col. (Gold)........ ................... 5s
Price
and
particulars
u jon application.
Lake County, In d .................................. 5s
Rockwell, la, (School)............................ 5s
W H %NN & S( I1 L E M X G Ë B ,
WestChicngoSt. RR.(Chicago) 1st Mtge.5s
2 W all Street, New York.
South Side Elev. UR. (Chicago) 1st Mort.4^s
This road has direct connection with the Citv of
Hartford.
Serd for earnings to Oct. 1,1897, and full descrip
tion of roperty.
n t e r m e d ia t e
48, M&N, $10,000 . . . Nov. 1, 1916
Interest payable at City Treasury.
Bonded debt Deo. 10, ’97.$206,750
W a t e r B on d s—
45,000
Sinking fund.....................
3^28, M&N, $ 2 4 ,0 00 ..Nov. 1,1898 Net debt Dec. 1 0,1 8 9 7 ... 161,750
($2,666 67 yearly) to Nov. 1 ,1 9 0 6 Tax valuation, real.........6,708,065
U n io n S c h o o l B o n d s—
Tax valuation, personal. 752,695
3 * 2 8 , M&N,$12 0 ,00 0 .. N o v . 1,19 0 2 Total valuation 1897___ 7,460,760
($10,000 due y’rly) to Nov. 1 ,19 1 3 State andCo.tax (per $1,000) .$7-24
S ^s, M&N, $ 5 ,0 0 0 ..Nov. 1 ,1 9 1 4 City tax (per $1,000) ’9 7 ........15-70
D is t r ic t S c h o o l B o n d s—
Population in 1892 was___ 16,088
4 12S,M&N, $7,750.N ov.15,’98 to’99 Population 1890 was...........16,038
$3,875 due yearly.
Population 1880 was...........13,522
In addition to the above the city has a debt of $160,000 for
local improvements, which is payable by special assessment. The city
owns $10,000 worth of stock of the Lockport Hydraulio Co
8 2 5 0 ,0 0 0
1st Mortgage Sinking Fund Gold 5s.
I
o n d s—
7s, J&J, $40,000....... Jan. 1 ,18 9 8
($10,000 due y’rly) to Jan. 1,1901
WE OWN AND OFFER
(Of New Britain, Connecticut.)
Total debt Jan. 1, ’98. $1,875,000
239,700
Sinking fund................
Net debt Jan. 1 ,1 8 9 8 . 1,635,300
Tax valuation, real___ 102,296,678
Tax valuation, pers’l .. 18,851,247
Total valuation 1897..121,147,925
Assessment about 3- actual value.
Average tax (per $1,000)’97.$24-00
Population in 1895 w a s... 217,798
Population 1890 w as........ 185,294
Population 1880 was......... 67,013
Population in 1897 (est.) ..2 2 5,0 0 0
issued by this county are exempt
v
INTEREST is payable at the National Park Bank in New York City.
BANKERS.
Central RR. & Electric Co.
1 ,19 1 7
1,19 2 1
2 ,1 9 2 4
1 ,19 2 5
1 ,1 9 2 0
on d s—
MASON, LEWIS & CO.,
$ 2 0 0 ,0 0 0
B ’d s —
a ll
4*28, M&S, $ 7 5 ,0 0 0 ...Sept. 1 ,1 9 1 7
4 12 s, M&S, 35,000... Sept. 1 ,19 1 9
40 Water Street, Boston.
7 Nassau Street, New York.
OFFER FOR SALE
y
4*28, J&J, $335,000 ..July
4^28, J&J, 315,000 ..July
4*2g, A&O, 6 0 0 ,0 0 0 ..Apr.
4 128, A&O, 400,Q00...Apr.
4s, J&J, 1 0 0 ,0 0 0 ..Jan.
CINCINN ATI. O.
67 Milk Street, Boston,
.1 7 1 L a Salle Street, Chicago,
lxyl
The city owns property valued at $50,000.
INTEREST on the 4 per cent school bonds and refunding bonds i»
payable in Boston and Hallowell ; on all others in Hallowell.
B
Total debt Dee. 1 3 ,1 8 9 7 .. $47,000
Assessed valuation 1897.. 750,000
Tax rate (per $1,000) 1897.$21 50
Population in 1890 was........ 3,015
Population in 1897 (est.)...... 3,500
fVoL.
DEALERS IN
I N V E S T M E N T BONDS,
’Members o f Boston Stock Exchange/
No. 7 Congress and 31 State Streets,
BOSTON.
Blodget, Merritt & Co.,
BANKERS
16 Congress Street, Boston.
Government and
Municipal Bonds
B O U G H T AND SOLD.
STATE. CITY & RAILROAD BONDS
APPRAISEMENTS MADE OR QUOTATIONS
FURNISHED FOR THE PURCHASE, SALE. OR
EXCHANOE OF ABOVE SECURITIES.
E. H ROLLINS & SONS,
MUNICIPAL BONDS.
L IS T S ON APPLICATION.
19 Milk Street. Boston, Mass.
E. O. STANWOOD & Co.
N. W. HARRIS & CO.,
E D W A R D C . J O N E S CO.
GOVERNMENT,
MUNICIPAL,
STREET RAILWAY,
BONDS.
NEW YORK, - 1 NASSAU STREET,
PHILADELPHIA, - 421 CHESTNUT ST.,
CINCINNATI - 30 EAST THIRD ST.
BAN KERS,
121 Devonshire Street.
BOSTON.
BANKERS,
31 NASSAU ST. ( Bank of Commerce Bldg.>
C. R. GOODE,
M U N IC IP A L S E C U R I T I E S .
High-Grade Warrants a Specialty
Write for List.
No. 66 Broadway, New York.
41
Railroad
W a ll S t ., N . Y .
BONDS
Municipal
Descriptive Circulars on Application.
-J anuary 15, 1898.]
I g e flä T S e t t e e s .
N O T IC E
OP SALE.
THE
Legal îloticcs.
Union Pacific R ailw ay Co., K ansas
Division and Collateral M ortgage
5% Bonds, (Reorganization Certifi
cates) . . .........................................
.5,000,000.00
Union Pacific R ailw ay Co. Om aha
Bridge Renewal 5% Bonds, (Reorganization R eceipt)............................... 145,000.00
N otice is hereby given that Pursuant to the
decree o f foreclosure and sale m a d e : f o r
b y the Circuit Court of the United „ ^ October
the Southern District o f N ew York on October
15 1897, in a certain cause in equity pending in
M is c e lla n e o u s S e c u r itie s a n d C la im s.
said Court, wherein J . P ierg m t Morgan and
N am e of Company.
Par Value.
others, constituting the firm of J. P. M om an &
Echo & Park C ity R ailw ay Co.
C o., are complainants, and the Union Pacinc
Notes, (8@$25,000 each).........................$200,000.00
R ailw ay Company, S. H . H . ^ r k
Oliver W .
Hutchinson & Southern Railroad Co.
M ink E . Ellery Anderson, Frederic R . Coudert,
N ote, o f which $349,863 has been
and John W . Doane, Receivers, are defendants.
paid by sale of collaterals, (held
The undersigned, J. P. Morgan & Co., as suc
subject to contract of sale made by
cessor Trustees under a certain trust deed
J. P . Morgan & Co., T r u s t e e s ) .... 767,736.76
dated September 4, 1891, executed by said Union
Pacific R ailw ay Company to the firm of Drexel,
Portland & Puget Sound Railroad
Morgan & Co., as Trustees, together w ith W .
Co.
Certificate of Indebtedness,
D
Cornish, as Special M aster, appointed by
(held as Collateral)............................... 969,245.98
said Court in said cause, jointly, will sell at
W ood R iver Improvement Co. N otes;
public auction, by Adrian H . M uller & Son,
(Collateral, $467,000 K earney &
Auctioneers, to the highest bidder or bidders on
B lack H ills R ailw ay Co. First
th e terms hereinafter mentioned, at the N ew
M ortgage B onds)......... ........................... 350,000.00
Y o rk R eal Estate Salesroom. I l l Broadway, in
N ote L . E . W alker secured by $50,the City of New York, N . Y ., on
000 Receivers’ Certificate H utchinW EDN ESD AY, TH E TW E LFTH DAY
son & Southern Railroad C o...........
25,000.00
OP JA N U AR Y, 1808.
Claim to 200 Gondolo Cars, built by Pullm an s
at twelve o’ clock noon, the following described
Palace Car Company and leased to Denver,
bonds, stocks, and other securities and property:
Texas and Fort W orth Railroad Company.
STOCK S.
136 Om aha & Republican V a lley Railw ay
N am e of Company.
P ar Value.
Company F ive Per Cent. Coupons at $25 each,
Atchison, Colorado & Pacific R ail
amounting, at par value, to $3,4*00—being 35.
road C o ....................................
$920,300.00
coupons due M arch 1, 1892; $5 coupons due
Atchison, Jewell County & W estern
September 1, 1892; 35 coupons due M arch 1,
Railroad C o................................................ 105,000.00
1893; 31 coupons due September 1, 1893.
The sale w ill be made subject to all the terms,
B ozem an Coal C o . . , . . , ...........................
96,000.00
Central Branch Union Pacific R a il___
conditions and provisions contained in said de
road C o............................
874,200.00
cree, to which reference is hereby made.
A s provided in said decree, the undersigned
Colorado W estern Railroad C o...........
9,100.00
w ill first offer for sale said bonds, stocks, and
Denver, Leadville & Gunnison R ail
other securities or property in separate parcels, ■
w ay C o ......... . . ........................................... 3,000,000.00
as follow s: Each class of stock will be offered
■Gray’ s Peak, Snake R iver & Leadfor sale in one separate lot, and each class of
ville Railroad C o....................................
6,000.00
bonds or other securities or property w ill be
G reen R iver W a te r W ork s C o ........... 225,000.00
offered either in one separate lot, or m ay be di
H utchinson &
Southern Railroad
vided up and sold in such am ounts as the un
Co., (held subject to contract of
dersigned m ay deem best. The bids received for
sale made by J. P. M organ & Co.,
)
the bonds, stocks, or other securities and prop
Trustees) ....................................................6,434,900.00
erty so offered for sale in separate lotg w ill be
K an sas City & Om aha Railroad Co. 1,725,375.00
received and noted upon condition that all the
Laram ie, North Park & Pacific R ailbonds, stocks, and other securities or property
load & Telegraph C o.............................
66,500.00
so offered for sale in separate lots shall subse
Lawrence & Emporia R ailw ay C o .. . 465,000.00
quently be offered together as a single lot or
Loveland Pass M ining & Railroad
parcel.
■
.
. .
TUnnel Co., (240 shares at $ 2 0 ) ...
4,8003)0
W henever the highest bids received and noted
M ontana R ailw ay Co., ($600,000 70%
.
for the separate lots so offered for sale shall
paid) ............................................................. 420,000.00
amount in . the aggregate to a sum which to
M ontana Union R ailw ay C o ................ 425,000.00
gether w ith any other cash then held by said
Morrison Stone, Lim e & Town C o .. 100,000.00
complainants, as trustees under said trust deed,
Occidental & Oriental
Steamship
shall be deemed by them sufficient to pay the
150,000.00
Company, ($5,000,000, 3% p a i d ) . . ..
whole amount then due for principal and inter
O m aha & Elkhorn Valley R ailw ay
est upon all the collateral notes then outstand
40,300.00
< c o ...............................................................
ing under said trust deed and remaining unpaid,
O m aha & Republican V a lley R a iland the other payments to be made therefrom
w ay Co....................................................... .2,327,523.77
as directed b y such decree, then the under
Oregon Railroad & Navigation Co.,
signed will offer no more of such stocks, bonds,
6,300.00 and other securities or property for sale in
(Common) ........................................ ..........
Oregon R ailroad & N avigation Co.,
separate lots as aforesaid.
,
,
..
378.00
A fter noting the highest bids received for the
(Preferred) ......................................... •••
66,300.00
bonds, stocks, and other securities and prop
Rattlesnake Creek W a ter C o................
erty offered for sale in separate lots, the same
S a lt Lake Foundry & M anufacturing
67.00
will be offered for sale in a single lot or parcel.
Co. ............................... .................................
I f the highest bids for all such bonds, stocks,
S a lin a & Southwestern R ailw ay Co. 231,700.00
and other securities and property when offered
South Park & Leadville Short Line
Railroad Co................................................. 1>002’ ? ^ -XX together as a single lot or parcel shall exceed
the aggregate of the several highest bids re
Union Depot Co., K ansas C ity ............
45,000.00
ceived and noted for said bonds, stocks, and
Union Eeievator Co., CouncilB lu ffs.
46,700.00
other securities or property when offered in sep
Union Elevator Co., O m aha...
81,000.00
arate lots as aforesaid, then all such bonds,
Union Pacific Coal C o ...............
4,437,900.00
stocks, and other securities so offered for sale
Union Pacific Coal Co., (held as Col_____
will be struck off and sold together as a single
lateral) ........................................................ 562,100.00
lot or parcel to the persoii m aking the highest
Union Pacific, Lincoln & Cblorado
______
bid therefor; but, if the highest bid received for
R ailw ay C o................................................. 1,997,800.00
the bonds, stocks, and other securities or propUnion Pacific R ailw ay Co., (Reorerty when offered together as a single lot or
ganization Certificates)........................ 177,450.00
parcel shall not exceed the aggregate sum of the
Union Pacific & W estern Colorado
highest bids received and noted for such bonds,
R ailw ay C o................................................. 400,500.00
stocks, and other securities or property when
W estern National F air Association.
i , 950.00
offered in separate lots a s aforesaid, then the
W o o d R iver Improvement Co., (323,several lots offered for sale will be struck off
200, 80% paid ).......................................... 258,560.00
and sold to the bidders who made the highest
BONDS.
bids therefor.
„ .
, ,
N am e o f Company.
P a r Value.
The undersigned, as directed by such decree,
Atchison, Union Depot ~'& R ailroad
will receive no bid at any such sale from any
Co. Second Mortgage 5% B o n d s ..
$4,500.00
one offering to bid who shall not first deposit
Colorado Central Railroad Co. First
with said complainants, as a pledge that he will
M ortgage 7% B onds................................ 1,437,000.00
m ake good his bid in case of its acceptance, 5
Denver, Leadville & Gunnison R ail
per cent, of the amount of the bid of such bid
w ay
Co.
First
Mortgage 4%,%
der either in cash or in collateral notes secure
Bonds, (to be included in plan of
bv such trust deed taken at their par value
A n v sum in cash or collateral notes so deposited
54,000.00
reorganization) .......................................
will to ’ he extent of 5 per cent, of the amount
G reen River W a te r W orks Co. F irst
of the bid of the purchaser, be applied to the
Mortgage 6% B onds............................... 214,000.00
payment of the purchase price of the property
Hutchinson & Southern Railroad Co.
bidden in by such purchaser if the sam e shall
F irst M ortgage 5% Bonds, (held
be '•truck down to him. A n y deposit of cash or
subject to contract o f sale m ade
of collateral notes so made at the, time of or
by J. P. Morgan & Co., Trustees). 1,025,000.00
prior to the sale, by any unsuccessful bidder,
C ity of Junction City, D avis County,
and the unapplied portion o f any deposit made
5,000.00
K ansas, 6% B onds..................................
by any other bidder, w ill be returned to him
K an sas City & Om aha Railroad Co.
when the property shall be struck down
First Mortgage 5% Bonds Reor
ganization Certificate of Deposit,
0tUpon the acceptance of any bid of any bidder,
(held under an agreement made by
such accepted bidder,' forthwith, m ust deposit
J. P. M organ & Co. to sell upon
w ith said complainants twenty per cent, of the
exercise of an option).......................... .1,595,500.00
amount o f his accepted bid either in cash or in
K a n sa s Pacific R ailw ay Co. 7% In
such collateral notes taken at the par value or
com e Bonds, (Reorganization Certheir face with the interest accrued and unpaid
tidc^tcs) .....................................................
1,250.00
thereon- but any cash or collateral notes which
Loveland Pass M ining & Railroad
$
previously m ay have been deposited by such
Co. F irst M ortgage 7% B onds-------- 400,000.00
bidder as a pledge that he would make good his
G gden U nion R ailw ay & Depot Co.
bid w ill be received on account o f the amount
First Mortgage 5 % B o n d s ................. 163,000.00
so required to be deposited on the acceptance of
■Omaha & Republican V a lley Railroad
his bid
The balance o f the purchase price pay
Co. First M ortgage 7% B o n d s . . .. . 121,000.00
able by such bidder m ay be paid or satisfied in
G m ah a & Republican V a lley R ail
whole or in part either in cash, or b y presenting
w ay Co. Consolidated Mortgage 5%
such outstanding collateral notes and allowing
Bonds ............................................................ 526,000.00
to be stamped thereon an acknowledgment of
G m a h a & Republican V alley R ail
the receipt of such proportion of the purchase
w ay Co. Extension First Mortgage
price as will be equivalent to the am ount tha*
5% B onds........................
1,246,000.00
the holder o f such collateral notes would be en
G regon Short Line Railroad Com
titled to receive thereon in case the entire pur
chase price were paid in cash ; but such collat
pany 5% Income Bonds, Series A . . 451,500.00
eral notes so presented m ust be surrendered and
Rattlesnake Creek W ater Co. First
canceled if the whole amount remaining due
M ortgage 6% B onds............................... 132,000.00
thereon for principal and interest shall be sat
U nion Depot Co., o f Spokane Falls,
isfied by paym ent or by such credit thereon.
First Mortgage 5% B o n d s .,............ 334,000.00
The purchase price other than the portion there
U nion Pacific Coal Co. First M ort
of required to be deposited at- the time o f sale
gage 5% B o n d s .. . . . . , .................... 4,890,000.00
as aforesaid m ust be paid either in cash or to
U nion Pacific R ailw ay Co. Equip
the extent above mentioned, by presentation of
m ent Trust; Series C, 5% B o n d s ... 225,000.(X)
U
CHRONICLE.
U n tie r s .
collateral notes to said complainants at their
office, No. 23 W a ll Street, in the City *of New
York, a t such tim e after the day of sale a s said
complainants m ay designate, and against deliv
ery of the bonds, stocks, and other securities
S°A s provided in such decree, if any bidder
shall fail to complete his bid and comply w ith
the term s of sale, the cash or collateral notes
deposited b y such bidder w ith said complain
ants w ill be forfeited and such bidder m ay be
held by the complainants, constituting said firm
of J. P. Morgan & Co., and as Trusteee under
said trust deed, liable for any deficiency there
m ay be between the sum for which any bonds,
stocks and other securities were struck off to
such bidder on the sale and that for which they
m ay be sold on a resale, and also any costs and.
expenses accruing on such resale which such
deposit shall not be sufficient to pay.
B y the terms of said decree all the right,
title, interest and equity of redemption of the
Union Pacific R ailw ay Company and of the said
receivers, and all right, title and interest of
said complainants as such Trustees under said
trust deed in and to the bonds, stocks, and
other securities and property sold, will pa.Ss by
such sale thereof under said decree, but without
any covenant, warranty, or representation, ex
press or implied..
,
.
._
For further particulars reference is m ade to
the above-mentioned decree of said Court.
Particular information concerning the various
bonds and coupons and other property to be of
fered for sale will be furnished upon application
by M essrs. J. P. Morgan & Co., at their office,
No. 23 W a ll Street, in the City of New Y o rk.—
Dated N ew York, November 19th, 1897.
J. P. M O R G A N & CO.,
A s Trustees under the Trust Deed, dated Sep
tember 4, 1891, executed by the Union P a
cific R ailw ay Company to Drexel, Morgan &
Co., Trustee; and
W . D . C O R N ISH ,
Special M aster.
N o tic e is h e r e b y g iv e n . t h a t th e
s a le p u r s u a n t to th e a b o v e a d v e r
t is e m e n t h a s b e e n a d jo u r n e d
to
W e d n e s d a y , th e 2 6 t h d a y o f J » n d *
a r y , 1 8 9 8 , a t 12 o ’ cloch: n o o n , a t th e
sa m e p la c e , v i z ., th e N e w Y o r k B e a l
E s t a t e S a le s r o o m , 1 11 B r o a d w a y .—
D a te d N e w
Y ork , January
1 2 th ,
1898
J . P. M ORGAN & CO.,
A s T r u s t e e s u n d e r th e T r u s t D e e d ,
d a te d S e p te m b e r 4 , 1 8 9 1 , e x e c u te d
l ,y th e U n io n P a c ific R a i l w a y
C o m p a n y to D r e x e l, M o r g a n &
C o., T r u s t e e s ; a n d
W . D . CORNISH,
,
S p e c ia l M a ste r .
Junoestmenis
$250.060
DETROIT R ’ Y 1ST M ORTGAGE GOLD
6# bonds, due 1924
(underlying mortgage).
CITIZENS’ T ^ £ £ l G A N ? P DET R ° I T ’
Interest charges................................................ 511,000 00
Balance......................... ...................................$216,008 61
Price,' ¿ 9 % and interest. Net over 5%.
50.000 R APID TRA N SIT F E R R Y CO.
(New York to Staten Island)
5% gold bonds, due 1904.
1897.
$510,069
316.258
Gross earn in gs..................................
Operating expenses.......................... ¿14,»uu
Net e a r n in g s ........................ ■■■ •®1®a?non
Increase in net earnings, $81,000.
Price, par and interest. Nets 6%.
35.000 C ITY OF DENVER, COLORADO.
6% bonds, average life 3**£ years.
Population, 170,000.
Price, lG2hj and interest.
Netting 5’3u$.
14.000 DOUGLAS COUNTY, GEORGIA.
6
%, average maturity 12% years.
Assessed valuation................................. ............. ^ ’ ^Z’nnn
Total debt........... . . . . . . . .
......... •••
24’000
Population, 10,000.
Price, 109U and interest.
Netting 5%.
And other desirable investment bonds and guarantcod stocks for savings banks and trust funds«
netting ‘¿ % to 5%.
c.
&
H. W H I T E
CO.,
BANKERS,
_ 31 NASSAU ST., NEW Y O R K .
BUY AND SELL
TEXAS MUNICIPAL BONDS.
ALSO
BANK STOCKS,
a . N. MENEFEE & CO., BANKERS,
18 Wall Street. New York._____
BANKERS,
18
W ALL
STR EET,
NEW
YORK.
KatablUhsil 1805.
VUSMBKRS OK N E W YO R K STOCK E X C H A N G E
Ailow interest on deposits subject to sight check
Buy and sell on commission stocks and bonds either
for cash or on margin, and deal in
Investment Securities,
n . J.
m orse.
Ch
as
D- M \ b
v in
.
w
m
k id p k b
Z
THE CHRONICLE.
Financial.
Satt&ers attd brokers (Out of Hem
B A N K IN G H O U S E OF
H A IG H T & FREESE,
63 BROADWAY, NEW YORK.
Boston, 86 State St.; Philadelphia, 402 Walnut St.
SOUTHERN.
Members of Baltimore Stock Exchange.
BANKERS,
21 6 East Baltimore Street, Baltimore,
i
Miscellaneous Securities a spec
Execute orders in Stocks, Bonds, Grain, Cotton
and Provisions on the New York, Philadelphia, Bos
ton and Chicago Grain and Stock Exchanges for in
vestment or to be carried on margin of 3 to 5 per
cent at moderate rates of interest and 1-16 commis
sion. Interest allowed on margins and deposits sub
ject to check at sight.
DETERMINING THE FINANCIAL, RE
SPONSIBILITY OF THE FIRM W IT H
W H IC H YOU DEAU 18 AS IMPORTANT
AS SELECTING THE R IG H T STOCKS.
BROKER,
Private wires to Boston, Philadelphia and Chicago.
Branch Office, 11 32 Broadway, New York.
1897.
The United States Life
Insurance Co.
IN THE C ITY OF NEW Y O R K .
All policies now Issued by this Company
contain the following clauses t
“ After one year from the date ol Issue«
the liability of the Company under this
policy shall not be disputed.”
“ This policy contains no restriction
whatever upon the Insured, In respect
either of travel, residence or occupation.”
All Death Claims paid W ITHO U T D IS.
COUNT as soon as satisfactory proofs have
been received.
Active and Successful Agents, wishing tc
represent this Company, may eommunieatewith the President, at the Borne
Office, SSI Broadway, New York.
John W . Dickey,
A U G U S TA , GEORGIA.
S E C U R IT IE S .
Mottu, de Witt & Co.,
............ Pres. Chem. Nat. Bank
169 LA SALLE STREET,
Private wire to New York and Philadelphia.
Loeb & Gatzert,
MORTGAGE BANKERS,
Bankers and Brokers,
125 L A S A L L E S T R E E T , CH ICAGO..
NORFOLK, V A .
First Mortgages for sale in large and small amounts,
petting investors 6, 5)$ and 6 per cent, secured by
improved and Income-bearing Chicago city property
Principal and Interest Payable ln Geld.
SOUTHERN
IN VESTM EN TS.
Davenport & Co.,
B iN K B B S
I B S
CORRESPONDENCE SOLICITED.
A . G. Becker & Co.,
(INCORPORATED).
B R O K B R I,
R IC H M O N D , V IR G IN IA .
ESTABLISHED 1860.
Correspondence solicited and information fur
nished about Southern State, Municipal and Ra 1
oad Investment Securities.
Reference—Bank of New York N. B. A.
BANKERS AND BROKERS
? ìyitìt6t
Jamieson & Co.,
Chicago, Ills.
SOUTHERN
C. W . Branch & Co.,
c o m m it t e e :
C H IC A G O , IL L S .
Members New York Stock Exchange, Chicago
Stock Exchange and Chicago Board of Trade.
S T O C K S —B O N D S ,
OFFICERS;
FIN AN CE
1 1 3-11 7 LA SALLE STREET,.
Members New York and Chicago Stock Exchanges'
GEORGE H . BURFORD.. ............. President
C. P. FBAIiEIGH...................... ..................Secretary
A. WHEELWRIGHT............... .Assistant Secretary
WILLIAM T. STANDEN......... ....................Actuary
ARTHUR C. PERRY............... .....................Cashier
JOHN P. MUNN........................ ... .Medical Director
CH ICAG O
™ S * 4r Established 1802. A . O. Slaughter & Co.*
Wilson, Colston & Co.,
B A N K E R S AND B R O K E R S ,
ialty, and whole issues handled.
fixceptlonai facilities for dealings in all classes ol
Southern Bonds. Loans on Collateral Securities
negotiated.
1850.
[V ol . L X VI;.
St a t e B a n k b u i l d i n g
RICH M O N D ,
co,QnectlS<?
V A.
Prtv?iÄ,wir^8,
with Washington, Baltt.
more, PhUadelphia, New York, Boston and Chicago
New York Correspondents: Messrs. Ladenburg
Thalmann & Co. and Lehman Bros.
2rho B.
I P PLUM..........................................
I P Ï » /® ’* ï*1-®8- ImP- & Traders’Leather
Nat. Bk
JAMES
Austin R. Myres,
A . Strassburger,
BOND AND STOCK BROKER.
Real Estate Loans.
SAVANNAH, Ga /
COMMERCIAL PAPER.
19» La
Salle St., Chicago,
IU .
PITTSBURG.
Henry Sproul
*8
FOURTH
& Co.t
AVENUE,
P IT T S B U R G , P A „
MEMBERS OV THE
NEW YORK STOCK EXCHANGE;
PHILADELPHIA STOCK EXCHANGE1
PITTSBURG EXCHANGE (8 MEMBERS);.
CHICAGO STOCK EXCHANGE,
CHICAGO BOARD OF TRADE.
N. Holmes & Sons,
STO CK S & BO ND S B R O K E R
BANKERS.
MISCELLANEOUS.
P IT T S B U R G ,
PRNN,
SOUTHERN INVESTMENT SECURITIES,
Ladd & Tilton,
Montgomery, Ala.
PHILADELPHIA.
BANKERS,
PO RTLAND, OREGON.
Clark & Co.,
Banking Business
Co l l e c t io n s G i v e n Sp e c i a l A t t e n t io n ,
BANKERS AND BROKERS,
Wo. 139 South Fourth St.,
P H IL A D E L P H IA .
Transact a, general banking business. Allows
interest on deposits.
Members of the Philadelphia and New York Stock
Exchanges, and connected by private wire with
XIew York.
Edward B. Smith & Co.,
Bank of New York, N. B. A.
First National Bank of Philadelphia.
P IT T S B U R G ,
PA.
ESTABLISHED 1871.
ESTABLISHED IN 1859.
Transact a General
E. W .
CORRESPONDENTS
Whitney & Stephenson*
BANKERS AND BROKERS
N o. 57 F O U R T H A V E N U E .
MINING INVESTMENTS.
Oldest Pittsburg Members N. Y. Stoek Exohange.
H. J. von Hemert & Co., T . Mellon & Sons* Bank*
BANKERS AND BROKERS,
COLORADO SP R IN G S, - - COLO.
Members Colorado Springs Mining Stock Association.
Weekly Market Letter sent upon application.
P IT T S B U R G H , P A .
GENERAL
BANKING,
COLLECTIONS-
INVESTMENTS.
BANKERS AND BROKERS,
BOURSE BUILDING.
PHILADELPHIA.
Members Phtla. and New York Stock Exchange!
E d w a r d s W h it a k e r ,
Ch a r l e s H o d g m a n
Whitaker & Hodgman,
BOND A N D STO C K B R O K E R S ,
W 6. H opper,
h . S H opper
Members of Philadelphia Stock Exchange. *
3 0 0 N orth F o u rth Street,
W m. G. Hopper & Co.,
S T . L O U IS .
STOCK AND BOND BROKERS,
28 South Third Street, Philadelphia.
BONDS AD VERTISED on the market supplied
SUBSCRIPTION PRICES.
Buppnea
Telephone 160
T )A N K OF C H A R L E S T O N .
X> NATIONAL BANKING ASSOCIATION.
„ 1M((i 1 t C H A R L E S T O N , SO. c a r .
’
c a p i t a l .............. ...................... ...........
.*300,000
SURPLUS,. . . . . . . . . . . . . . , . . .
.......... .....1100,000
CINCINNATI.
Irwin, Ellis & Ballmann,
BANKERS AND BROKERS
D e a l e r in C in c in n a t i B o n d s .
No. 37 East Third St.. Cincinnati, Ohio
Ja m e s R ic h a r d s o n
H o w a r d L e e Cl a r e
Richardson & Clark,
BANKERS.
25 Exchange Street, Providence, R. I.
Commercial Paper, Bonds, Stocks and
Local Securities.
Seasongood
&
M
ater,
8. W . Corner Third and Walnut Street»,.
C IN C IN N A T I, O H IO .
MUNICIPAL BONDS.
i-SÎ5,h‘.Gr?le®dl?K
J?e^?lty’Pp8perons
CountyTown
and 8chooi Bona*
States of the Union,
especially adapted for safe and permanent invest
ment for Estates and Trust Funds.
m
IH R
J a n u a r y 15, 18'. 8 J
CHRONLCLE
ffitmucial.
fin a n c ia l.
T h e A u d it C om pany
M AN H ATTAN ISLAND
Equitable Building, 120 Broadway.
Vice-President.
Acting President,
WILLIAM A. NASH.
AUGUST BELMONT,
Chief Consulting Auditor
Manager,
STEPHEN LITTLE.
THOMAS L. GREENE.
Consulting Engineers,
£
W. B. PARSONS.
F. S. t’EARSON.
Chief o f Corps o f Eng’rs, Secretary and Treasurer,
HENRY B, SEAMAN.
EDWARD T. PER1NE.
DIRECTORS:
August Belmont,
A. J. Cassatt,
Frederic P. Olcott,
Marcellus Hartley,
James Stillman,
Charles R. Flint,
George Coppell,
William A. Nash,
Joseph S. Auerbach, G. B. M. Harvey,
John I. Waterhury,
George G. Haven,
George W. Young.
ADVISORY COMMITTEE
of Stockholders :
W . Bayard Cutting,
T. Jefferson Coolidge.jr
Walter G. Oakman,
Charles S. Fairchild,
A. D. Juilliard,
Gustav E. Kissel,
Henry W. Poor,
Isaac N. Seligman,
Louis Fitzgerald,
Robert Maclay.
The Audit Company examines and reports
upon the accounts and financial condition of
corporations, copartnerships and individuals,;
and examines and reports upon the physical
condition of railroad, manufacturing and
other properties.
Its services are of value to investors, finan
cial institutions, borrowers of money, directors
of corporations, merchants, firms and purchasers of properties.____________________
W M . FRANKLIN HALL,
Accountant
g fffir s g a r *
b o s t o n
% n s n x n n c x .
o f f ic e o f
REAL ESTATE
OF NEW YORK,
IN V E S TM E N T.
CASS R E A L T Y
CO R PO RATIO N .
20 9 , 211 and 213
East Twenty-Third Street.
¡Speaking of Manhattan Island Beal
Estate Investment, the “ N. Y. Evening
Post” , April 3,1897, said:
* it is sure in time to become
immensely profitable ; for the in
crease in the fee value of the prop
erty will be attended by a greater
demand * * and a relative increase
in rents.”
Write or Call for Particulars.
BANK
-
-
-
-
«1,000,00(1
8230,00«
Transacts a General Banking and Foreign Exchange
Business. Collections receive Special Attention.
OFFICERS:
F. G. B ig e l o w , Pres’t.
F. J. Kipp , Cashier.
WM. Bigklow, V.-Pres’t. T. E. Camp , Ass’t Cashier
F. E. K r u e g e r . 2d Ass’t Cashier.
San Francisco*
, m a s s .
Books audited. Examinations and inrestigatioas
conducted with the utmost care and efficiency.
NATIONAL
O F M IL W A U K E E .
CAPITAL,
SURPLUS,
The First National Ban!
O F SAM FRANCISCO, CAL,
SECURE BANK VAULTS
UNITED STATES DEPOSITARY.
Capital, 8 1 ,5 0 0 ,0 0 0 I Surplus,
8950,001
3. G. Murphy , President, jas . K. Lynch , Cashle
Iambs Morrrrr, Y.-Pres* J. K. Morrrrr, Ast. Ca«)
General Banking Business. Aooounta Solicitad
_
GENUINE
WELDED CHROME STEEL AND IRON
Round and Flat Bars and 5-ply Plates and Angles
_
7 T FOR SAFES, VAULTS, & c .
®*fmot he Sawed, Cut or Drilled, and positively
Burglar Proof.
CHROME STEEL W O R K S ,
Kent Ave., Keap & Hooper Sts.
Sole Man’f ’ers in the U. 8. B R O O K L Y N . N. V
W & x itiu Q
Canal Bank,
NEW ORLEANS, LA .
(Successor of N. O. Canal & Banking Co.)
CAPITAL, 8 1 ,0 0 0 ,0 0 0 .
J. C. MORRIS, President. EDWARD TOBY, Vice
Pres. EDGAR NOTT, Cashier
Correspondents—National City Bank, Nations
Bank of Commerce, New York; Boatmen’s Bank
St Louis; N, W. National Bank, Chicago; Mer
chants’ National Bank Boston
g a p
tv .
w
‘gnat
ATLAN TIC M U TU A L
INSURANCE CO.
N e w Y ork , January 21, 1897.
The Trustees, In conformity with the Charterof the Company, submit the following state
ment of its affairs on the 31st of December,
1896:
Premiums on Marine Risks from
1st January, 1896, to 31st De
cember, 1896........... ....... . $2,596,788.8
P rem ium s on Policies not
marked off 1st January, 1896. 1,109,275.00*
Total Marine Prem ium s......... $3,706,063.80'
Premiums marked off from 1st
January, 1896, to 31st Decem
ber, 1896.......................... — $2,058,108^1$
BANKS.
FIRST
XI
w
Losses paid during the
same period.............. .$1,249,999.01
Returns of Prem
iums and E x
penses.............$646,420.25
The Company has the follow
ing Assets, viz.:
United States and City of New
York Stock: City Banks and
other Stocks................. -...... $7,226^106.00
Loans secured by Stocks and
1,930,000.00
otherwise........................
Real Estate and Claims dne the
Company, estimated at.......... 1,137,621.97'
Premium Notes and Bills Re
ceivable...................
843,596.90
Cash in Bank..........................
175,229.25Amount........................... .$11,312,753.18
Six per cent interest on the outstanding cer
tificates of profits will be paid to the holdersthereof, or their legal representatives, on and
after Tuesday, the second of February next.
The outstanding certificates of the issue o f
1891 will be redeemed and paid to the holdersthereof, or their legal representatives, on and
after Tuesday, the second of February next*
from which date all interest thereon will cease.
The certificates to be produced atthe time o f
payment, and canceled.
A dividend of Forty per cent is declared on
the net earned premiums of the Company for
the year ending 31-stDecember, 1896, for whiclr
certificates will be issued on and after Tues
day, the fourth of May next.
By order of the Board.
J . H . CHAPMAN, Secretary.
B A N K E R S S H O U L D T H IN K
TRUSTEES:
More seriously about the paper used in their ac
count books. Do you know the W h itin g L in en
L e d g e r s ? They are perfection, and will withstand
the severest tests of erasure and re-writing. They
are made in tints that give the eye most ease by nat
ural or artificial light. Recommended by oculists.
Write for samples and booklet, free.
W H IT IN G P A P E R C O M P A N Y ,
H olyoke,
w
Mass.,
and
150 D u a n e S t r e e t , N e w Y o r k .
w
N. Denton Smith,
W. H. H. Moore,
Charles H. Marshall,
A. A. Baven,
Joseph H. Chapman, Charles D. Leverich,
Edward Floyd-Jones,
James Low,
James G. De Forest, George H. Macy,
Waldron P. Brown,,
William Degroot,
Anson W. Hard,
William H. Webb,
Joseph Agostini,
Horace Gray,
Christian de Thomsen*, Vernon H, Brown*.
Leander N. Lovell,.
Charles P. Bord*4”5
Everett Frazar,
Henry E. Hawley,
William* B. Boulton,.
William E. Dodgi*,
George W. Quintardj,
Lawrence Turaure,
Paul L. Tbebaud,
John L, Rifcer,
George Coppell*
0. A. Hand,
Gustav H. Schwab,
John D* Hewlett,
Francis M. Bacon.
Gustav Amsinok,
ANTON A. RAVEN, P resid en t.
FREDERIC A. PARSONS, Y ice-P res’t.
CORNELIUS ELDERT, sd V ice*P ti}?L
THEO. P. JOHNSON.yd Y ice-P resft
THE CHRONICLE.
XU
% x u s t
W o m p K n iz s .
Union Trust Company United States Trust Co.
OF K E W Y O R K .
C A P IT A L ,
SURPLUS,
-
$ 1 ,0 0 0 ,0 0 0
-
$ 6 ,2 1 3 ,0 0 0
A U T H O R IZ E D TO ACT A S
Executor, Administrator, Guardian,
Receiver or Trustee,
A N D IS
A L E G A L D E PO SIT O RY FOR MONEY.
ACTS AS TRUSTEE OF MORTGAGES OF
CORPORATIONS »nd accepts the transfer agency
-and registry of stocks.
ALLOWS INTEREST ON DEPOSITS, which may
he made at any time, and withdrawn on five days’
notice, with interest for the whole time they remain
With the company.
For the convenience o f depositors this company
also opens CURRENT ACCOUNTS, subject, in ac
cordance with its rules, to check at sight, and allows
Interest upon the resulting daily balances. Such
. checks pass through the Clearing House.
Attends specially to the
M ANAGEM ENT OF R E A L ESTATE
and to the collection and remittance o f rents.
It makes ample provision in its
B U R G L A R A ED F IR E PROOF VAULTS
,<Qr the safe-keeping o f securities placed in its cus
tody, on which it collects and remits income.
EDWARD KING, President.
CORNELIUS D. WOOD,
1
JAMES H. OGILYIE,
>Vice-Presidents.
AUGUSTUS W. KBLfjEY, i
J. V. B. THA YER, Secretary.
E. R. MERRITT, Assistant Secretary.
C. C. RAWLINGS. Trust Officer.
New York Security &
Trust Company,
4«
W ALL
STREET, N EW
YORK*
Capital, SI,OOO,000 I Surplus, $ 1 ,500 ,00 0
C H A R L ES S. FA IR C H IL D , President.
WM. L. STRONG, 1st Vice-Pres.
ABRAM M. HYATT, 2d Vice-Pres.
OSBORN W. BRIGHT, Secretary.
ZELAH VAN LOAN. Asst. Secretary,
Authorized to act as executor, trustee, administra
tor, guardian, agent and receiver.
Receives deposits subject to sight drafts, allowing
interest. A legal depository for court and trust funds.
A designated depository for the reserve of State
•anks. Accounts of banks and bankers solicited.
TRUSTEES
C. B. Fairchild, M. C. D. Borden, James A. Bialr,
W. EL Appleton, B. Aymar Sands, J. G. McCullough,
Wm. L. Strong, James J. Hill,
H. Hoagland,
W. F. Buckley, E. N. Gibbs,
J. W. Sterling,
S. G. Nelson,
IF. R. Coudert,
H. Walter Webb,
Edward Uhl
.Tarries Still'
jo b " A McCall,
Edmund D. Randolph, Frank W. Stearns.
Rhode 1sland R ospital
Trust Company,
P R O V ID E N C E , R . I,
C apital...$ 1 ,0 0 0 ,0 0 0 ISurplus....$7 50 ,0 00
DIRECTORS.
Christopher Lippitt, Horatio N. Campbell
Royal C. Taft,
Rebert Knight,
Robt. H. I. Goddard, John W. Danielson
Geo. W. R.Matteson, Herbert J. Wells,
William D. Ely
John C. Pegram,
Robert I. Gammell,
Lyman B. Goff,
William Binney,
Eugene W. Mason
William B. Weeden, Geo. Gordon King
Howland Hazard.
Rowland G. Hazard
Edward D. Pearce
Lucian Sharpe.
HERBERT J. WELLS, SAM’L R. DORRA NCB
President.
Vice-Preside; t.
EDWARD 8. CLARK,
WM. A. GAMWELL
The Union Trust Co.
715-717-719 Ch e s t n u t St r e e t
P H IL A D E L P H IA , PA.
Incorporated 1882.
C A P IT A L ,
-
$ 1 ,0 0 0 ,0 0 0
Transacts a General Trust and Safe Deposit Business
Acts as Transfer Agent, Registrar and Trustees
under corporation mortgages
Collects and Remits Income at Reasonable Rates.
Solicits Accounts of Bankers and others.
,
Interest Allowed on Deposits.
President,
Vice-President.
J. SIMPSON AFRICA THOMAS R. P irT O R i
2d Vice-President, GEORGE A. FLETCHER.
Treasurer and Secretary.
Trust O fficer
RICHARD S. EDWARDS. PERCY B. METZGER
DIRECTORS.
J. S. Africa,
Joseph I. Keete, Thos. R. Patton,
Edward Bailey, Chas. A. Lagen, Bdw. L. Perkins,
Geo. A.Fletcher, John P. McGrath Wm. C Stoever,
Thomas G. Hood, Harrv W. Moore. J. W. Suppléé,
Wm. B. Irvine, ; Oscar R. Meyers, Joseph Thomas
TR U ST
$11,500,000.
This Company is a legal depository for moneys
paid into Court, and is authorized to act as Guardian.
Trustee or Executor.
INTEREST ALLOWED
ON DEPOSITS
whichmay be made at any time and withdrawn
after five days’ notice, and will be entitled to inter6
8t for the whole time they may remain with the
Company.
Executors, Administrators, or Trustees of Estates.
Religious and Benevolent Institutions, and individ
uals, will find this Company a convenient depository
for money
JOHN A. STEWART, President,
D. WILLIS JAMES, Vice-President,
JAMES S. CLARK, 2d Vice-President,
HENRY L. THORNELL, Secretary,
LOUIS G. HAMPTON, Assist. $ec’y.
TRUSTEES.
8amuel Sloan, Charles S. Smith, W. Wald. Astor,
D. Willis James, Wm. Rockefeller,James Stillman,
John A. Stewart. Alexander E. Orr.John Claflin,
J. H. Rhoades, Wm. H. Macy, Jr. John J. Phelps,
Anson P. Stokes, Wm. D. Sloane, Daniel Lord,
John C. Brown, G. H. Schwab,
John S. Kennedy,
Edward Cooper, Frank Lyman, D. 0. Mills,
W. B. Cutting. Geo. F. Victor, Lewis C. Ledyard
C O N T IN E N T A L
TRUST CO M PAN Y,
OF THE C ITY OF NEW Y O R K .
30 BROAD STREET.
CAPITAL................................$5 00 ,0 00
SURPLUS.
..................... 35 0,00 0
OTTO T. BANNARD..................... ............President
WILLIAM ALEXANDER SMITH...1st Vice Pres’t
GORDON MACDONALD.. .2d Vice-Pres’t and Sec’y
HENRY B. DABOLL...............Assistant Secretary
Designated by tbe Supreme Court as a
Depositary for Court Moneys.
Interest allowed on Deposits.
Executes all Trusts.
TRUSTEES
William Jay,
Robert W. DeForest,
Alfred M. Hoyt,
Giraud Foster.
Rudolf E. F. Flinsoh,
Gordon Macdonald,
Robert S. Holt,
Gordon Nome,
Henry M. Taber,
A. Lanfear Norrie,
Oliver Harriman, Jr.,
William F. Cochran,
Wm. Alexander Smith,
Walter Jennings,
Robert Olyphant,
William A. Hazard
W. Seward Webb,
Frank H. Platt,
Otto T. Bannard.
Trenor L. Park,
Oswald Sanderson.
T
he
State
100
T
r u st
C
-
C O M P A N Y,
B O S T O N , M ASS.
C A P IT A L ,
SU RPLU S,
.
$ 1 ,0 0 0 ,0 0 0
5 0 0 ,0 0 0
A legal depository o f moneys paid into Court and
for Administrators, Executors, Guardians and
.
.
.
.
.
.
Trustees.
INTEREST ALLOWED ON DEPOSIT8.
Trustees under Mortgages, Transfer Agents and
Registrars o f Stock.
BOARD OF DIRECTORS.
Chas. Francis Adams. 2d. Samuel Little,
Oakes A. Ames,
S. E. Peabody,
Edwin F. Atkins.
Francis Peabody
Isaac T. Burr,
Albert A. Pope. “
Samuel Carr,
N. W. Rice,
F. Gordon Dexter
R. E. Robbins,
David P. Kimball
W. B. Thomas,
Henry D. Hyde,
S. ENDICOTT PEABODY, President.
N. W. JORDAN, Actuary,
E. A. COFFIN Treasurer
OLD CO LONY
TR U ST CO M PAN Y.
B O S T O N , M ASS.
C A P IT A L ,
.
. .
$ 1 ,0 0 0 ,0 0 0
SU RPLU S,
.
.
.
1 ,0 0 0 ,0 0 0
Transacts a General Banking Business.
ALLOW S INTEREST ON D A I L Y BALAN CES SUBJECT
TO CHECH
TRUSTEE U N D E R M ORTGAGES. T R A N SFE R AG EN T
R E G IST R A R
BOARD OF DIRECTORS:
T. Jeflerson Coolldge, Jr., President.
Oliver Ames,
Walter Hunnewell
C. W. Amory,
Samuel Carr,
B. P. Cheney,
Geo. V. L. Meyer,
T. Jefferson Coolldge,
Laurence Minot,
Chas. E. Cotting,
Richard Olney,
Geo. F. Fabyan,
Henry R. Reed,
Geo. P Gardner,
Nathaniel Thayer.
Henry S. Howe,
Stephen M. Weld.
Henry C. Weston.
—-
T. J e f f e r so n Co o l id g e , J r ., President.
C. S. T u c k e r m a n , Vice-Pres’t and Treat.
G eo . P. G a r d n e r , G o r d o n A b b o t t ,
F r a n c is R. H a r t , Vice-Presid
B. A. P h ip p e n , Secretary and Ass’t Treat.
J o se p h G. St e a r n s , Ass’t Secretary.
o.
BROADW AY.
Capital a n d Su rplu s,
AM E R IC A N LO A N
—AND—
Nos. 4 6 & 47 W A L L STREET.
CAPITAL AND SURPLUS,
80 Broadway, New York.
[VOL. L X V I.
$ 1 ,8 0 0 ,0 0 0
Acts as Trustee, Registrar, Transfer and
Fiscal Agent of Corporations, and as Ex
ecutor, Administrator, Trustee, Guardian
and Committee of Estates. Legal Deposi
tory for Court and Trust Funds. Takes
full charge ot Real and Personal Estates.
Interest allowed on Deposits.
FRANCIS S. BANGS, President.
W Jj. TRENHOLM, l-tr, D
WM. A. NASH,
f Vice-Presidents.
MAURICE S. DECKER. Secretary.
„ „
H. M. FRANCIS, Treasurer.
H. B. BERRY, Trust Officer.
TRUSTEES.
Willis S. Paine,
Henry Steers,
Henry H. Cook,
George W. Quintard,
Charles R. Flint,
Forrest H. Parker,
W. L. Trenholm,
Charles Scribner,
William B. Kendall, Charles L. Tiffany,
Walter S. Johnston, George W. White,
Joseph N. Hallock.
Percival Knauth,
Edwin A. McAIpin, Francis S. Bangs,
Andrew Mills,
Francis Lynde Stetson,
William A. Nash,
Thomas A. McIntyre.
Geo. Foster Peabody, Edward E. Poor.
J. D. Probst,
Anson G. McCook.
Maryland Trust Co.,
CORNER SOUTH AND GERMAN STS.
BALTIMORE.
CAPITAL, $ 1 ,0 0 0 ,0 0 0
A LEGAL DEPOSITORY FOR COURT AND
TRUST FUNDS.
Acts as Financial Agent for States, Cities Towns«
Railroads and other Corporations. Transacts a gen *
eral trust business. Lends money on approved se«
curtty. Allows interest on special deposits. Acts
as Trustee under Mortgages, Assignments and
Deeds of Trust, as Agent for the Transfer or Registratlon of Stocks and Bonds, and for the payment of
coupons i nterest and dividends.
J. WILLCOX BROWN, President.
LLOYD L. JACKSON. First Vice-President
HENRY J. BOWDOIN, Second Vice-President*
J. BERNARD SCOTT. Secy. & Treas
DIRECTORS:
Wm. A. Marburg, Lloyd L. Jackson, W.TT. Baldwin.Jr
Frank Brown,
H. A. Parr.
Josbual.everlng
Alex. Brown,
Clayton C. Hall, James Bond,H. J. Bowdoin, J. Wilcox Brown, J. D. Baker,
Leopold Strouse, B. N. Baker,
John B. Garrett,
Basil B. Gordon, Fred’k W. wood, F. M. Thlerlot,
Henry Walters, Fred M. Colston, F. S. Bangs.
W. B. Brooks,Jr., Andrew I).Jones j Doug. II.Gordon
GUARDIAN
Missouri Kansas & Texas
Trust & Deposit Company,
Trust Co.,
SECURITY
BALTIMORE.
General Banking and Trust Business, Becomes
Trustee under Mortgages or Deeds o f Trust, Finan
cial or Transfer Agent for States, Cities or Corpora
tions, etc., etc. Pays interest on Deposits.
EDWARD STABLER, J r ., President.
Mv BYRN, Secretary and Treasurer.
DANIEL MILLER, JON. K. TAYLOR,Vice-Pres’ts.
Executive Committee: Wm. H. Bosley (JohnS.
Gittings & Co.), Chairman; George B. Baker, Henry
C. Matthews, John L. Blake, Francis A. White, Matt.
C. Fenton, Lewis A. Gusdorff.
Metropolitan Trust Co.
Of the City of New York.
37 and 39 W a llS treet, New York.
Paid-up capital.............................$ 1 ,0 0 0 ,0 0 0
Surplus........................................... 1,0 00,0 00
Designated as a legal depositary by order of
Supreme Court. Receive deposits o f money on in
terest, act as fiscal or transfer agent, or trustee for
corporations, and accept and execute any legal trusts
from persons or corporations, on as favorable terms
«4 other similar companies.
Brayl^on Ives, President. Fred’k D. Tappen.V.-Pres.
C. M. Jesup, 2d V.-Pres. Beverly Chew, Secretary.
V- Raymond J. Chatry. Assistant Secretary
7th and Wyandotte Sts., Kansas City, Mo«
1 Nassau St., N .Y.. 400 Chestnut $t«,Phila.
194 Washington St., Boston.
Singel 238) Amsterdam, Holland.
Dorotheen-$trasse 54 Berlin, Germany.
31 Lombard Street, London, England,
Mandthorqunl 2 ,” Hamburg, Ger.
15 Rue du Louvre, Paris, France.
Capital............................................. $ 1 ,3 5 0 ,0 0 0
Surplus and Undivided Profits.. 1,3 50,0 00
ARTHUR E. STILWELL. President.
Vice-Presidents: J. McD. Trimble, E. L. Martin
W. 8. Taylor, Jacques T. Nolthenius.
A, C. Robinson, Secretary; Wm. S. Taylor, Treas.
urer; Frank B. Wilcox, Assistant Treasurer: J, J.
Calrnes, Assistant Secretary; E S. Mosher, Asst.
Secretary; Nath’l Norton, Ass’t Secretary; Trimble
& Braley, General Attorneys.
Executes a General Trust Business.
Acts as Trustee* Transfer Agent or Registrar for Corporations.
Acts as Executor, Administrator, Guarding
or Trustee of Estates.
Collects Western Mortgages.
Takes charge of properties, collecting
Rents, paying taxes, etc., for
Eastern Investors.
TH R CHRONICLE
January 15, 1898.]
X IU
ïrtxst Campimies*
C0 L°NIAl TrVST 0MPANY.
G u a ra n ty T ru stC o .
of New York»
NASSAU, CORNER CEDAR STREET.
CAPITAL. - • • •
SURPLUS, •
-
• $2,000,000
$ 2 ,5 0 0 ,0 0 0
ACTS AS TRUSTEE FOR CORPORATIONS,
FIRMS, AND INDIVIDUALS, AS GUARDIAN,
EXECUTOR, AND ADMINISTRATOR, TAKES
ENTIRE CHARGE OF REAL AND PERSONAL ESTATES.
INTEREST ALLOWED ON DEPOSITS
subject to cheque or on certificate.
STERLING DRAFTS ON ALL PARTS OF
GREAT BRITAIN BOUGHT AND SOLD,
COLLECTIONS MADE.
TRAVELLERS’ LETTERS OF CREDIT AVAIL
ABLE IN ALL PARTS OF THE WORLD, AND
COMMERCIAL LETTERS OF CREDIT ISSUED.
WALTER G. OAKMAN, President.
ADRIAN ISELIN, Jn., Vice-President.
GEORGE R. TURNBULL, 2d Vice-President,
HENRY A. MURRAY. Treas. and Sec.
J. NELSON BORLAND, Asst. Treas. and Sec.
JOHN GAULT. Manager Foreign Dept.
H.J'
DIRECTORS.
Samuel D. Babcock,
Charles R. Henderson,
George F. Baker,
Adrian Iselin, Jr.,
George S. Bowdoin,
Augustus D. Juilliard,
August Belmont,
James N. Jarvie,
Frederic Cromwell,
Richard A. McCurdy,
■Walter R. Gillette.
Alexander E. Orr,
Robert Ooelet,
Walter G. Oakman,.
G. G. Haven,
Henry H. Rogers,
Oliver Harriman,
H. McK. Twombly,
B. Somers Hayes,
Frederick W. Vanderbilt.'
William C. Whitney.
LONDON BRANCH,
33 LOMBARD STREET, E. C.
F. N e v il l J ackson , Se c r e t a r y .
Buys and sells exchange on the principal
cities of the world, collects dividends and cou
pons without charge, Issues travellers’ and com
mercial letters of credit, receives and pays
Interest on deposits subject to cheque at sight or
on notice, lends money on collaterals, deals In
American and other Investment securities, and
offers its services as correspondent and financial
agent to corporations, bankers and merchants.
Bankers*
BANK OF ENGLAND,
CLYDESDALE BANK, Limited,
NATIONAL PROVINCIAL BANK OF
ENGLAND, Limited,
PARR’S BANK, Limited.
Solicitors.
FfeESHFIELDS AND WILLIAMS. ",
London Committee.
ARTHUR JOHN FRASER, C h a ir m a n .
DONALD C. HALDEMAN.
ST.PAVLBVILDING,
2 2 0 . BR9ADWAY
MEW YS>RI<.
59 CEDAR STREET, NEW Y O R K .
CAPITAL
............................... $2,000 ,00 0.
SU R P L U S ....,............................. . 1,250,000,
Transacts a General Trust Business.
Acts as Trustee, Registrar, and Transfer
Agent; Executor, Guardian, Administra
tor, &c. Takes entire charge of Real and
Personal Estates. Acts as Fiscal Agent for
States, Municipalities, and Corporations
Legal Depositary for Court and Trnst
Funds. Interest allowed on Deposits.
Checks pass through the New York Clear
ing-House. Money loaned on bond and
mortgage. Issues First Mortgage Trust
Gold Bonds.
OFFICERS.
George W . Young............................ President
Luther Kountze..................... Vice-President
James Timpson.................2d Vice-President
Arthur Turnbull.............................Treasurer
William P. Elliott........................... Secretary
Clark W illiam s................... Asst. Treasurer
Richard M. Hurd..................Asst. Secretary
DIRECTORS.
Samuel D. Babcock, . Gustav E. Kissel,
Dumont Clarke,
Luther Kountze,
Charles D. Dickey, jr., Charlton T. Lewis,
William P. Dixon,
Richard A. McCurdy,
David Dows, jr.,
Theodore Morford,
Robert A. Granules,
Robert Olyphant,
G. G. Haven, jr.,
Charles M. Pratt,
Charles R. Henderson, James Timpson,
James J. Hill,
George W. Young.
N. W. cor. 4th &Fine Sts., St. Lonis, Mo.
Capital and Surplus....................$ 3 ,000 ,00 0
CAPITAL AND SURPLUS $1,500,000.
TRANSACTS A GENERAL TRUST BUSINESS.
Acts as Executor, Administrator, Guar
dian, Committee, Trustee, Receiver, As
signee, Registrar, Transfer and Fiscal
Agent.
PAYS INTEREST ON DAILY BALANCES
Subject to check, payable at sight or
through the New York Clearing House,
and on Certificates of Deposit,
TAKES ENTIRE CHARGE OP REAL ESTATE.
Loans Money on Bond and Mortgage.
ACTS AS TRUSTEE FOR RAILROAD AND
OTHER MORTGAGES.
TRANSACTS A GENERAL BANKING BUSINESS.
OFFICERS.
JOHN E. BORNE, President.
ROSWELL P. FLOWER, > ...
D .. .
CHAS. C. DICKINSON. / Vice-Presidents.
JAMES W. TAPPIN, Secretary.
ARPAD & GROSSMANN, Treasurer.
EDMUND L. JUDSON, Asst. Secretary.
PHILIP S. BABCOCK, Trust Officer.
TRUSTEES.
Henry O. Havemeyer,
Cord Meyer,
Wm. T. Wardwell,
Roswell P. Flower,
Chas. CL Dickinson,
Lowell M. Palmer,
Henry N. Whitney,
John E. Borne,
Richard Del alielil,
Theo. W. Myers,
L. C. Dessar,
Percival Kfihne,
Geo, Warren Smith,
Frank Curtiss,
John S. Dickerson.
Vernon H. Brown,
Geo. W. Qulntard.
Gardiner G. Hubbard,
W, Seward Webb.
0 V C E R B O o^
TRUST
CO.
284 FIFTH AVENUE, COR. 27TH STREET.
Branch Office. 66 Broadway. New York.
CAPITAL............................ $ 1 ,0 0 0 ,0 0 0 00
LEGAL DEPOSITORY
For State, City and Court Moneys.
Interest Allowed on Time Deposits.
Checks pass through N Y. Clearing-House.
Acts as Executor, Guardian or Administrator of
Estates, and as Receiver.Registrar, Transfer and Fi
nancial agent for States, Railroads and Corporations.
Separate Department with
Special Facilities for Ladles
ROBERT MACLAY, President.
CHARLES T. BARNEY, Vice-President.
JOSEPH T. BROWN, 2d Vice-President.
DIRECTORS I
Kmted States
Mississippi Valley Trust
Company,
Jos. S. Auerbach, James H.Breslin.t Robert Maclay,
Harry B. Hollins, I. Town. Burden, C. L. Perkins.
Jacob Hays,
E. V. Loew,
Alfred L. White,
Chas. T. Barney, Henry F.Dtmock, Chas. R. Flint,
A. F. Higgins,
J. P. Townsend, Amzi L. Barber.
Henry W.T.Mali, Chas. F. Watson, Charles T. Cook.
AudrewH.Sands. Fre’k G. Bourne, John Magee.
Henrv A. Morgan.
Henry C. Berlin.
FRED’K L. ELDRIDGE, Sec. and Treas.
J H E N R V TO W N SEN D . Assist. Seov.
ALFRED B. MACLAY, Asst. Treas.
Wisconsin
Trust
Co.
M IL W A U K E E , W I8 .
C apital,
-
-
$250,000 00
Transacts a General Trust Business.
I n v e s t m e n t S e e n r ltle s f o r S a le .
The
Investment Company
o f Philadelphia,
UNDER STATE SUPERVISION.
$ 2 0 0 ,0 0 0 deposited with State officer to
protect trust liabilities.
A GENERAL TRUST COMPANY BUSINESS.
Allows interest on Deposits.
Authorized to act as Executor, Guardian, Receiver
Trustee, &c. Manages Estates. Collects Rents.
Becomes Surety on all kinds of Court Bonds.
Has Safety Deposit Vaults; a Savings Department
INVESTMENT SECURITIES A SPECIALTY.
DIRECTORS
Charles Clark,
James Campbell
Chas. H. Turner, H. I.Drummond, August Gehner,
Wm. F. Nolker, S. E. Hoflman, Julius S. Walsh,
T. O’Reilly,M. D., D. W. Caruth,
Willlams’n Bacon
SamJM.Kennaid, W. G. Boyd,
Breckmr’geJones
Aug. B. Ewing Wm.D.Ortbwein, Henry Hitchcock
Elmer B. Adams, Geo. H. Goddard, Rolla Wells.
OFFICERS.
Julius S. W alsh . President.
B r e c k i n r i d g e J o n e s , 1st Y.-P. and Counsel.
Sa m u e l E . H o f f m a n , Second Viee-Pres.
Ds Lacy Chandler , Secretary.
J a m e s E. B r o c k , Asst. Secretary.
FRED ERICK V IE R L I N G . T r u s t Office
U N I O N T R U S T CO.,
OF
ST. LOUIS, M O. ,
CAPITAL, $ 1 ,0 0 0 ,0 0 0 , FULL PAID.
SURPLUS, 8 3 5 0 ,0 0 0 .
Authorized by law to ac as Executor, Admlolatm*
tor, Guardian, Curator, Assignee and Receiver.
Takes full charge of and manages estates.
Interest allowed on deposits.
Money loaned on real estate and other collateral
security.
Real estate loans, in any amount, for sale.
Titles investigated and abstract* and certificates
thereof furnished*
George A. Madill, Pres.
Wm. Taussig, 1st V.-Pree
R. 8. Brookings, 2d Y.-P. B. B. Graham, 8d V.- Pres.
N. A. McMillan, Treasurer, I. Z. Smith, Secretary.
DIRECTORS:
Geo. A. Madill. Geo. E Leighton, E. Mallinckrodt,
Geo. S. Myers.
M M Buck.
Wm. Taussig,
Geo. W. Parker,
R. S. Brookings, Wm. H. Lee,H. A. Crawford
J, W. Morton,
B. B. Graham,
C.
S. Greeley,
W. K. Bixby,
E.C. Sterling,
Wm. E. Hughes, John ScalUn,
W. M. Senter,
A. L. Shaoleigh Festus J. Wade, C. Tomnklm*.
The
EquitableTrustCompany
1 8 5 D E A R B O R N S T ., C H IC AG O .
CAPITAL, PAID UP.
SURPLUS- - - - -
- - - $500,000
- - - 125,000
AUTHORIZED BY LAW TO RECEIVE and ex
ecute trusts of every character from courts, corpora“
tions and individuals. Takes entire charge of estates,
real and personal. Acts as agent for the registra
tion and transfer of bonds and stocks and the pay
ment of coupons, interest and dividends. A legal
Repository for court and trnst funds.
INTEREST ALLOWED ON DEPOSITS of money
which may be made at any time and withdrawn after
five days’ notice, or at a fixed date.
TRUST FUNDS AND TRUST INVESTMENTS
are kept separate and apart from the assets of the
eo npany.
DIRECTORS
AZEL F. HATCH,
CHAS. H. HULBURD
GEO. F. JENNINGS,
GEORGE T. SMITH,
J. R. WALSH,
MAURICE ROSENFELD
SAMUEL D. WARD,
OTTO YOUNG.
OFFICERS.
J. R. WALSH, President.
CHAS. H. HULBURD, Vice-President.
LYMAN A. WALTON, Secy, and Treas.
C. D. ORGAN, Cashier.
Ü0rtîx ^mzxltKU Qxust
100 B R O AD W AY. NEW Y O R K ,
310 Chestnut St., P hiladelph ia.
Paid-Up Capital,
$8 00 ,0 00
This Company undertakes the negotiation and
issue of loans and capital of Companies on the New
York or Philadelphia Market and will make ad
vances upon approved Corporate, Personal or Real
Estate Security.
Under its charter rights it will act as Trustee,
Agent or Manager for the control of corporations
or for the construction of public or private works
96 GRESHAM STREET, LONDON, E.
C A P IT A L ., $ 1 ,0 0 0 ,0 0 « .
UNDIVIDED PROFITS, $2 0 0 ,0 0 0 .
Authorized to act as Trustee, Guardian*
Assignee and Fiscal Agent.
All conservative trust company business
n pp.pntpil.
SAMUEL M. JARVÏS, President.
ROLAND R. CONKLIN,
E. J. CHAPPELL Vice President.
London Treasurer
S. R. HARBERT,
S. It. CONKLIN,
London Secretary.
Secretary. '
KIT
THE CHRONICLE.
(Cottcra.
Financial.
W OODW ARD
& STILLM AN ,
COTTON
MERCHANTS
46 to 22 WILLIAM STREET*
NEW
YORK.
[VOL. L X \ I
^ fin a n c ia l.
W . T . Hatch & Sons,
BANKERS AND BROKERS,
Chas. Fairchild & Co.,
96 Broadway & 6 W a ll S t., New York*
High-Grade Investments,
Members of N. Y. Stock and Produce Exchanges.
si» W a ll Street, N ew Y o rk .
Dealers in investment stocks and bonds.
Personal attention g ven at the New York Stock
E ^change for the purchase and sale on commission
of stocks and bonds for cash or on margin
Members N ew Y ork Sto ck
E xchanqe .
•COTTON OP ALL GRADES SUITABLE TO
WANTS OP AMERICAN SPINNERS.
LlBMAy , Stern & Co., Limited, New Orleans, La.
L ehman -D urk Co., Montgomery, Ala.
LEHMAN
G o n m s s io N
BROS.,
m e r c h a n ts
,
Nos. 16*22 W illiam Street,
NEW
YORK.
HAVEN & S T O U T ,
BANKERS AND BROKERS,
1 Nassau Street, Corner Wall Street,
f NEW YORK STOCK EXCHANGE,
Members of j NEW YORK COTTON EXCHANGE,
[ CHICAGO BOARD OF TRADE.
Orders executed on above Exchanges in
•MEMBERS OP THE STOCK, COTTON, COF
BONDS, {STOCKS, COTTON, GRAIN.
FEE AND PRODUCE EXCHANGES,
NEW YORK
$xrttmx.
Orders executed on the above Exchanges, as well
In New Orleans, Chicago and foreign markets
F. H . Prince & C o.,
BANKERS
B O S T O N , MASS.
H IGH GBADE IN VE ST M E N T S
Members of New York and Boston Stock Exchanges
Henry Hentz & C o ,
'C O M M IS S IO N
M E R C H A N T S,
IO to 3 3 William Street, New York.
R IO R D A N & CO .,
flXBCUTB ORDERS FOR FUTURE DELIVERY
Cotton, Grain, Stocks,
COTTON,
A t the New York, Liverpool and New Orleans
Cotton Exchanges. Also orders for
BANKERS,
NEW YORK.
N o. 10 W A L L S T R E E T ,
NEW YORK.
COFFEE,
At the New York Coffee Exchange, and
DEALERS IN
A 2R A IN A N D P R O V IS IO N S ,
INVESTMENT and MISCELLANEOUS
SECURITIES.
Southern Securities a Specialty.
▲t the New York Produce Exchange
and the Chicago Board of Trade.
Hopkins, Dwight & Co., Hubbard Bros. & Co.,
A . S. Van Wickle,
COTTON. COTTON-SEED OIL
Coffee Exchange Ballding,
BANKER,
ANT
H anover Square,
No. 1 BROADWAY, NEW YORK.
SOUTHERN PRODUCE
MEW Y O R K .
•COM M I S S I O N
MERCHANTS,
Room 113, Cotton Exchange Building.
COTTON
M ER CH AN TS.
NEW YORK
S K M is ;? * " " '- I k k &'s s s 8“ “ -
Geo. H. M°Fadden & Bro.,
COTTON MERCHANTS,
PH ILADELPH IA.
„
Frederic Zerega & Co.
B r e m e n Co r r e sp o n d e n t s ,
McFadden, Zerega dc Co.
M. T. MAINE.
WM. RAT.
Geo. Copeland & Co.,
COTTON B R O K E R S,
1 2 9 Pearl Street,
New York.
Cotton landed at mills from Southern marke
«specialty. Orders for future delivery contn
executed on New York Cotton Exchange.
Mason Smith & Co.,
«O TTO N COMMISSION MERCHANTS,
NEW ORLEANS, L A .
MEMPHIS, TENN
D ALLAS, T E X .
Shyers of Spot Cotton. Orders for Contracts
«anted in the New Orleans, New York, Liverpool and
Havre Markets.
G e o . W . Da i l y .
•
J. A . M o n t g o m e r y
Baily & Montgomery,
COMMISSION MERCHANTS,
Cotton Exchange Bldg.
NEW Y O R K .
Execute Orders for future Delivery of Cotton,
Grain and Provisions
L iberal Advances Made on Cotton
Consignments.
IN V E S T M E N T
S E C U R IT IE S .
UNITED S T A T E S BONDS
Bought and Sold bv
Cahoone & Wescott,
Members New York Stock Exchange,
18 W A L L ST R E E T ,
R. H. ROUNTREE & CO.,
COMMISSION MERCHANTS,
NEW YO R K.
BXtsccUaucons.
Cotton, Grain, Provisions and C offee.
•Li v e r p o o l Co r r e s p o n d e n t s .
_
R. A . Lancaster & Sons,
43 COTTON EXCH AN GE,
COTTON EXCHANGE BUILDING,
NEW YORK.
P a u l Sc h w a r z .
g
. H o w a r d W il so n .
Paul Schwarz & Co.,
COTTON COMMISSION MERCHANTS,
1 William Street. Now York.
Members Ne» York Cotton and Coffee Exchange.
J. Spencer Turner,
SUCCESSOR TO
Brlnckerhoft, T urn er dc Co.,
MANUFACTURER AND DEALER IN
COTTON SAIL DUCK
a n d a l l k in d s
or
COTTON CANVAS FELTING DUCK
CAR COVERING BAGGING,
RAVENS DUCK, SAIL TWINE, A0„
POPE “ AWNING ” STRIPES.
AGENT
UNITED ST A T E S BU N T IN G CO.
s t o o l h l l Widths and Colors, always in
1ft# Duane S treet. New Y o r k .
LO CO M O TIV ESRichmond Locomotive & Machine W orks
RICHMOND, VIRGINIA*
SIMPLE OR COMPOUND LOCOMOTIVE8
THEIR OWN DESIGNS OR TO SPECIFICATIONS
Modernly equipped shops,
„
Annual capacity 3 0 0 locomotives
Terms made satisfactory.
Correspondence Solicited
Bliss, Fabyan & Co.,
NEW YO RK.BOSTON ,PH ILAD ELPHIA
Se l l in g A g e n t s r o a L e a d i n g Brands
BROWN AND BLEACHED SH IRTINGS
and SHEETINGS,
PRINTS. DENIMS. TICKS. DUCKS. *0.
Towels, Quilts, White Goods and Hoslsry
Drill», Sheeting», <fe„ fo r Export Trade.
Fifth Avenue Hotel,
M a d iso n Square, N ew Y o r k .
The largest,’ best appointed and most liberally
managed hotel in the city, with the most centra
and delightful location'
________________HITCHCOCK DARLING & CO.
R. T . Wilson & Co.,
Haskins & Sells,
BANKERS AND COMMISSION MERCHANTS,
Certified Public Accountants,
3 3 W a ll Street. New York
NO. SO BR O A D ST., N E W Y O R K ,
@FedFRASER