The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
STATES..
BEPRE3EXTIXGI THE INDUSTRIAL AND COMMERCIAL INTERESTS OP THE UNITED
Week Ending Jan
CONTENTS.
Clearing House Returns
The Financial Situation.
The Economic Disturbances
Since 1873
What the Returns of Net Earn-
85 I Monetary and
Commercial
86 |
English News
I Commercial and Miscellaneous
91
88 1
92
News
shares.)
hales.)
(Cotton
(Grain
90 |
{Petroleum.
BANKERS’ GAZETTE.
Boston
Prices of Active Bor,tip at N. Y.
Money Mai hot, Foreign Ex¬
Pr vidence
Stock Exchange, and Range
change, U. States Securities,
Hartford
since January 1, 1888
State and Railroad Bonds
90 j New Haven
97 Perl land
and Stocks
94 Prices of Inactive Bonds
Local Securities
98 Wo- real er
Range in Prices at tlie New
99 Sur’-glield
York Stock Exchange
95 Railroad Earnings
Lv w e 11
Investment and Railroad News 100
THE
bushels.)
Ills.)
■
...........
do
Pix Mos.
Pitt Htiirn
do
6 10
do
11 23
£2 7s.
£1 8s.
Subscriptions will be continued until definitely ordered stopped. The
publishers cannot be responsible for remittances unless made by drafts
or Post Oltice Money Orders.
These prices include the Investors’ Supplement, of 120 pages
Issued once in two months, and furnished without extra charge to
subscribers of the Chronicle.
A file cover is furnished at 50 cents; postage on the same is 18
Yo.umes bound for subscribers at $1 00.
London Agents :
Messrs Edwards & Smith, 1 Drapeis’ Gardens. E. C., who will take
subscriptions and advertisements and supply single copies of the paper
cents.
at
Is. each.
WILLIAM
II.
DANA.
JOHN G. FLOYD.
1?. DANA & Co., Publishers,
102 William Street, INEiV YOKK,
Post Office Box 958.
WILLI A ^1
|.
Baltimore
:
$10 20
European Subscription (including postage)
Annual subscription in London (including postage)
Total Middle
I
Chicago
Cincinnati
Milwaukee.
Det roit
..
1
Indianapolis
Cleveland
Columbus
Peoria
(bnnha
..
CLEARING
Considered
HOUSE
RETURNS.
(000.025)
(-00*3)
(3o2,0) 0)
(24.800,100)
(+:-:8*0)
(-334)
(+53*4)
-f 3 0
-i 20 V)
93.563,950
6,108,3(4)
3,187 262
J,:-00,195
1,300,813
4 2*8
+10*7
+20*1
0-7*5
-+2*1
(-37 2
(43,868,000)
8r>„ro:.:-~n
82.276,607
n.fiUr.Uo
.2.f>c«v •
1.441
65
4 ill
1,1*
1,07 .100
1.2' .'.0.1
4 .r>n.:«eo
+141
+ 28-5
1,179,528
9Ui,123
840,380
585,880
+44 5
072,642
00,400,468
04,079,60S
-15-7
108,830,780
+3*3
6 >.501,643
57,247.827
+ 92
13,063,013
0,258.007
13,4V 0,062
+4P1
12,723.567
—5"?
71,107.102
11,300.212
13,221,004
-4*3
-0-1*2
-21*9
88,280,122
70,907,610
+10-!
05,608,278
-0*0
55 852,131
49,336,403
+13-2
11,583,350
11,58*.850
4,104,114
H.O; 2,810
1,701.750
3,184.423
2,070,737
1,001.1 02
2,383,041
-005
58.122.805
11,451,600
2,164.1-51
1,1
‘-J
1
8 1 5
0 0. 2
l.n50,:-48
030,1-28
3,856,287
4,430,129
2,14!',of» 1
3,000,146
2,192,960
1,30- ,008
2,866,505
18 0
*_•
I
^ 1
+ 12-0
-+ 19 0
—3 0
-KV9
+102
+2((’2
0*8
1,254,000
4,384,467
4,482,338
2,051, 36
3.293,243
2,40**.037
1.347.773
3.613,408
3,443,015
2.037,227
+12*1
3,532,4h0
8,384.501
+4*4
774.043
565,100
+37-0
807,509
1,032,000
-2P8
98,104,630
90,051,061
0 0*0
102,510,871
St. Louis
17,010,513
St.
1,438,166
]3,U0O,810
5,737,471
6,003,822
2.491 ,600
1.2» 0,274
081,272
10,641,527
1,174,(147
13,090.240
5.286.733
6,870,155
2,526,040
1,508,114
Denver
St. Paul
Grand Kapids
Wichita
-+
208.116
.Joseph
New Orleans
i ouisville
Olive-ton
Norfolk
<
4
—5*9
—17*1
+ 11*0
-7*9
—3 l
—
12 4
+ 0*8
-74
—11*5
+ 03
+80
+18*7
—3*1
+4*8
2,130,411
3,0*2,175
735,895
+14*4
854,651
-30*3
0-3*1
1,581,105
312,518
1,400.163
Total Western
-20*0
(320,I(I‘>) (-6140 4)
(32.1-00.4:,3) (—3PS>
(2S,90.\( 0 •) (-7 46 2
(1,652.774)
(813.300)
(20,5*1,052) |
(42,ol»U,' OU) 1
501,480,034
3.472.-2S
2.2*3,197
Minneapolis
K ansas City
Memphis
,
|
Philadelphia.
Subscription—Payable in Advance
For One Year (including postage)
For Six Months
do.
'
.
Total New England...
Site Chronicle.
(1,037,580)
‘
j
P. Cent.
1888.
*
-5-2
654,518,800
620,165,451
i
(Stocks
I
ings Show
!
P. Cent
$
*
Now York
Sales of—
Week Erd'g Jan. 7.
14.
1887.
18ft*.
TIIE CHRONICLE.
Terms of
NO. 1,178.
SATURDAY, JANUARY 21, 1888.
YOL. 46.
7*0
18,284,071
-0*1
+22 t
0 0 0
1,5*3.377
12.862,805
4 8*5
0,780,974
+26-8
-1-22*0
+ 1*8
4-1*8
1*2
0 *06.432
4
-8*3
3.094,805
+7*4
-15 8
1,445,073
+ 23 0
065,565
-20*3
-59
—
703.620
-5*4
they stand, the returns of exchanges for the
-fO-3
+ 4-2
Total Southern
40,017,034
51,013,852
47,801,001
second week of January would appear to be of a fairly favor,
4-17-7
-17*4
19
131
224
778
14 4‘>0
16 077 303
able character, as there is$a gain of over ten millions of dollars
—10 2
-0*8
Total all
902,571,068
972,053,015 980.001,687
compared with the figures for the first week. The increase Outside New York
-3*6
*7)525783,464 ‘320.444.827 ~ThT "37iToof.of4
recorded is due, however, to the fact that the current report
Not included in totals.
We have received this evening our usual five-day telegraphic
covers a full week, whereas the week ended Jan. 7 included
returns
of exchanges, and the total for the seven cities exhibits
a
holiday, and, moreover, the increase is entirely at New
a
falling off from the corresponding five days of last week of
York, the aggregate for the other cities exhibiting a decline
of $18,302,550.
Under these circumstances the showing seems about fifty-six millions of dollars. In comparison with the
to be less satisfactory, but one must remember that although similar period of last year there is a loss of 13 '9 per cent.
On
the present statement embraces a greater number of days, the the basis of these telegraphic returns the estimate for the
addition to clearings resulting therefrom is in considerable full week ended Jan. 21 would seem to point to a decline com¬
measure offset by the large amount of funds representing pared with 1887, of about 8‘5 per cent.
Messrs. R. G. Dun &
interest payments, &e., which entered into the exchanges Co. report the number of failures for the week ended to-night
as 314 (27G in the United States and 38 in Canada) against 2S8
during the opening week of the year.
Contrasted with the corresponding week of 18S7 there is a last week and 301 for the same week of last year.
loss at New York of 5 2 per cent, and in the whole country
Week End}g Jan. 14
Week Ending Jan. 21.
the decrease reaches 0*8 per cent. This unfavorable result is
Returns by Telegraph.
P. Cent.
1888.
•1887.
P. Cent
1SS8,
accounted for wholly by the lesser volume of stock specula¬
tion at New York this year, as outside of that city an excess
*
$
$
-5*7
-18 7
519.106,001
New York
470,776,180 579,120,093
of ST per cent is sfcn.
The most important percentages of Sales of Stock (shares)....
(932,828) (-28*2)
(007,003);
(1,880,700) (-63*0)
-10
71.509,728
+2 0
68,730,073
69,445,203
gain recorded are at Lowell, 44 5 per cent; Pittsburg, 41T; Boston
-5 1
53,199,848
+9-7
53.078,298
55,024,005
Philadelphia
Grand Rapids, 37; Springfield, 2S‘5; Norfolk, 23’6, and St.
—18*5
-38
10.811,346
10,304.140
Baltimore
12,611,088
+14*3
Joseph,"22*4 per cent.
+11*8
47,072,000
45,217.000
40,454,000
Chicago
—2*3
+8 6
15,508.405
13,710,250
14,033,886
Operations in shares on the New York Stock Exchange for St. Louis
11,002,982
+21*6
+a*L
11,063,332
10,050,141
the week embrace a market value of $55,000,000, w hich com¬
-2*2
-13*0
729,401.970
073.497,188 782,260,436
Total, 5 days
pares with $81,164,000 for the corresponding week in 1887
0 0*0
-1*7
Estimated 1 day
138,427,210
142,102,270 133,274,810
Deducting two-and-a-half times these values from the total
-2*1
-100
Total full week...
015,544,246
807,>-29.180
815,599.464
+11*5
clearings at New York we find the clearings due to other than Balance Country*
92,403.955
+15*2 105.162.431
100,428,147
stock transactions to be $482,665,457, against $451,600,860 a
—8*5
—0*8
072.091.017
Total week, all
922.027 011 1,007,918,201
Year ago, or an increase of 6*9 per cent,
For tbe lull week, based on last week’s retains.
as
*
--
-
.
*
86
CHRONICLE
THE
EXPORTS OF BRE A.DSTUFF8, PROVISIONS, COTTON AND
PETROLEUM.
THE FINANCIAL SITUATION.
The
[Vol. XLVI,
1887.
1880.
1885.
Exports
market has shown a further and decided
from U. S.
December. 6 Months.
December. 0 Months. December. 0 Months.
tendency towards increased ease this week. The call rate,
Quantities.
so far as
represented by bankers’ balances, has been 4|- Wheat.bush. 4,220,316 44,004,559 7,981,731 51,585,504 3,725.922
20,529,983
and 3 per cent, averaging 4 per cent, while at bank there Flour...bbls. 1,149,836 0,201,972
943,358
5,551,444
757,798
3,953,618
Wheat,
bu.
9,4(50.578
72.513.433
12,226.842
are free
offerings at 4-| per cent. Times loans are also Corn...bush. 2,178,973 12,545,030 3,320,225 70,667,002 7,130,013 38,321,203
17,057,570
0,149,113 24,305,317
lower, in fact we hear of loans made by banks and trust Tot.bush.. 11,579,551 85,058,403 15,547,067 •93,024,032
13,285,120 62,020,580
companies for from 60 days to 4 months on dividend pay¬
Values.
$
$
$
*
1
1
& flour
8,939,111 00,509,194 11,158,921 G8,598,703
0,728,512 37,312,043
ing properties at 4^ to 5 per cent. But the demand for Wb’t
Corn Sc meal.
1,312,841
6,799,477
1,077,404
8,510,850
3,215,173 13,278,879
money is not at all urgent, there being very few commis¬ Rye
11,809
20,100
45,287
88,307
Oats & meal.
21,171
149,048
70,885
380,051
155,183
2,164,935
sion houses reported as borrowing even at these rates. Out
Barley
9,970
112,'811
112,030
725,557
18,401
94,049
of town institutions, on account of the
Br’dstuffs..
10,282.099
competition of our
73,642.939 13,015,346 78,200,454 10,117,209 52,938,813
8,025,318 46.773,801
8,985,198 45.600.755
8 441,392 45,234,657
banks in the time money market, have been induced to Provisions
Cotton
31,019.301 127,047.147 41,820,028 118,714,297 32,120,741 108,282,508
seek commercial paper for investment.
Consequently dis¬ Petrol’m.&c. 3,985,702 24,131,970 3,591,891 24,310,033 4,147,086 20,746,405
Tot. value. 53,342,420 271,595,923 67,443,053 206,952.139
are
counts
54,827,088 233,202,503
easy at 5£ per cent for 60 to 90 day endorsed
bills receivable; 5-£@6 for four months’
In these few
acceptances, and
leading art icles the falling off in Decem¬
6f@6£ for first-class single names having from four to six ber values of our exports is
$14,100,633 as compared
months to run.
Some paper of the last-named class sells with last
Since the new year came in the move¬
year.
as high as
7^@8 per cent, though that is exceptional. ment has been very limited.
Money is still accumulating at this centre, but we notice,
The great depression in the iron trade seems to be in a
in the reports to us by the banks, that there is a consider¬
sense natural,
but not so certain to be prolonged as so
able increase in the amount
going out this week, not to many appear to think. It is natural because it is concur¬
the West and South, but mainly to the Middle and Eastern rent with
the changed aspect of railroad
money
-
..
budding and
States.
heightened iron production.
The Bulletin of the Iron &
The Bank of England minimum was this week further
Sieel Association reports the outturn of
p;g in 1887 at
reduced to 3 per cent from 3J, the point to which it was
7,187,206 tons, against 6,365,328 tons in 18S6 and
lowered last week.
This is a natural result of the condi¬
4,529,869 tons in 1885, or an increase of 58 per
tion of the open market, the check to the
export move¬ cent over 1885.
Plans for increased railroad build¬
ment of gold to
Berlin, and to the considerable additions ing began with 1886, were
put vigorously in op¬
made during the
last three weeks to the stock of eration the last half cf that
year, further developed
bullion in the
Bank.
D scounts cf
60 day to three in the
winter
became
following
and
almost wildly active
months’ bank bills at London are
l|@lf per cent. There duriDg about eight months of 1887, resulting in 20,000
is
no
change in the open market rate at Paris miles of track being laid between
July 1, 1886, and De¬
and
Berlin.
The Bank of England
reports a gain cember 31, 18S7. The iron industry was thus trie counter
of
£266,000 bullion during the week.
This, our part of the railroad industry, and as during the closing three
special cable advises us, is the result of an import from months of last
year z?al in the latter quieted, the former
China of £15,000 and of
receipts from the interior of lost its spirit ; now, with general report
crediting the current
Great Britain of
£309,000, reduced by an export to year with scarcely a mile of new construction,
the tone in
Lisbon of £58,000.
The Bank of Prance shows an the iron market is
wholly gone. Tnese changes are, as
increase of £25,000 gold, and the Bank of
Germany we said, in a sense natural; yet is not the collapse extreme,
reports a gain of about £370,000.
A' cable dispatch and is it not in a measure founded on a false feat ? It is a
reports that the loans issued at Berlin the past year reach time for restricted
production, since for the present we
1,032,000,000 marks, of which 456,000,000 marks were cannot build much
railroad, and not many extensive plans
foreign loans; the same report pu<s the total loans in will be made until
spring opens and Congress tells us
1883 at only 783,000,000 marks.
Berlin, as our readers whether we are to be bothered with surplus accumula¬
know, is rapidly becoming a more and more important tions and
periodic frights and spasms in the money mar*
centre for
dealings in American securities, principally ket during the next twelve months. But
assuming that
quieted aud railroads able to - market bonds
Our foreign
exchange market has at intervals been easy fgaiD, is not the burden lifted that inhibited railroad enter¬
and firm the past
week, but yesterday the rates were prise in 1887? Work was stopped aud
plans cut short very
maiked
up to 4 S5 for long and 4-87^ for scort;
abruptly. Projects were not completed; they were simply
the effect of
the change is
simply to bring the arrested. Business is not bad in most other departments
rcmiLi.l rates
bonds.
fear to
nearer
mercial bills
movement
urgent.
hanging
of
are
for actual business.
Com¬
owing to the light export
staples, but the demand has not been
Tre fact
over
those
very scarce
that
some
bond
negotiations have been
the market is reported a3 in part the cause
for the late weakness and
Btant flow of bonds
and
decline.
stocks
to E
But
there
is
a
while
be
in
some
it
is
accumulated nowhere.
an
increase of
is still
still
active.
Sxcks of goods have
Even the stock of
pig iron shows
only 84,913 tons in the twelve months, and
78,895 tons less than it
1886, when the
iron
market
was on
was
so
the first of
January,
active and
prices
so
con.
satisfactory; comparing stocks of pig with the previous
igland and the Con¬ year they are 255,000 tons less. In a word, then, if
only
tinent, aud this is probably the chief reason why rates a
way could be found to lift off that extinguisher to all
have kept as low as
they have during this month. Cer¬ enteiprise, the surplus—not
simply paying it out, for that
tainly they are not warranted by the past trade situation is worse than
leaving it in if the taxes remain aud another
or by the current
movement of protuce.
Mr. Svitz’er contraction is to take place as the
surplus accumulates—
has tnis week issued hi3
report for December of the does it not look as if we
might soon hear the spindles buz¬
exports of brea lstuifs, cotton, prmsioni ai l pstroleum
zing again and see the furnaces in full blast once more?
and we give ihe
figures below made up in our usual form
Our concluding article in answer to Mr. Wells’ series on
for that
month, and for
1887, 1856 aud 1835. j
me
first half of the fiscal
year,
in
the “ Economic Disturbances since 1873” will be
on
a
subsequent pigs to-day.
Correct vie ws and
found
correct
January 21,* IS.-
action with
THE CHRONICLF.
8 J
regard to the matters covered by these papers
according to our belief, of the highest importance ;
that is the reason we have given so much prominence and
are,
space to this discussion.
Tire world needs the two metals
and we cannot see how commerce is to prosper again
until
it
has their full use.
The obvious insufficiency
(whicli is only another name for appreciation) of gold, as
last
few months
87
as
regards the roads in that section of
the country.
On the
Stock
Exchange the demand for bonds con.
tinues, and the sales embrace a great variety and assort¬
ment of securities.
The stock market, however, which
was quite firm
early in the week, has latterly been depressed
under attacks by operators for a decline. The weak spot has
seemed to be Missouri Pacific, and yesterday the decline in it
became very pronounced.
Whether the weakness in the
Gould specialties is the result of manipulation, or whether
it is the result of the new competition which that system of
roads has to meet, is not very clear, though the latter is
doubtless a serious circumstance.
The general feat¬
make it do double work
since 1873, was very happily put by Bismarck when he
compared the situation to two men struggling to lie under
a bhi ket only big enough for one.
A good illustration
of this struggle may also be gathered from the movements
of gold into and cut of Great Britain since 1879, when
we adopted specie payments.
Previous to that date that ures of the situation remain about as heretofore. The
courtly apparently needed, for it had been absorbing negotiation of Atchison bonds had a favorable effect in
yeaily on an average almost
million pounds sterling— Boston early in the week, and this reacted on the
The President’s message on the
needed
it, we suppose, for manufacture and for New York market.
its expanding trade.
Since that date, instead of Pacific roads also had a temporary stimulating effect, as it
receivn g its usual increment it bas imported from 1879 was favorably interpreted.
The defeat of the proposition
to
issue
five
millions
of
additional
to 1887, both years inclusive, £102,289,205 of gold and
preferred stock on the
Baltimore
had
no influence in any of the markets.
&
Ohio
exported £111,072,623; in other words it has actually
had a net loss in the nine years of £8,783,418, or on an aver, Foreign exchange rates advanced yesterday, but money is
age about one million pounds sterling a year, whereas easy, and the return flow from the interior is very large.
from 1858 to 1878, both years inclusive, its ret gam was The weather has been very severe in the Northwest and
£87,010,369, or an average annual gain for the 21 years Southwest, many of the roads being blocked with snow,
of £4,143,350.
What influence this one change has had and this combii ed with the demoralization of rates has
in producing the changed condition of Great Britain’s reduced earnings, but the returns coming in are nevertheless
industries we leave others to determine.
generally favorable.
Net earnings, however, are less
The Northern Pacific this week formally joined in the satisfactory.
This will appear from our summary of 76
roads
for
November given in an article on a subsequent
Oregon Navigation lease, aud the officials of the respective
roads have been directed to sign it, so there seems no pos¬ page.
Included in this summary are the figures of the
sibility of further delay or uncertainty. The lease is the Chicago Milwaukee & St. Paul obtained by us yesterday,
last of a series of events relating to this system' of roads, which show a gain in net for the month A $45,383 and in
all having an important bearing upon their future and gross of §170,905; for the eleven months, there is an
prospects. The first was when Mr. Millard’s German syn¬ increase of $380,223 in gross, but a decrease of §265,034
dicate came to the relief of the Oregon Trans Continental in the net.
This consummation affected not alone that
last summer.
The following statement, made up from returns collected
company, but also the Oregon Navigation and the North¬ by us, exhibits the week’s receipts and shipments of cur
ern Pacific, fcr the Trans-Continental’s large holdings of
rency and gold by the New York banks.
the securities of the latter two companies, and the possi¬
Received by
Shipped by
Net Interior
Week ending January 20,1888.
bility that these securities might have to be thrown upon
Movement.
N. 1'. Ranks. N. Y. Ranks.
the market in liquidation of floating indebtedness, was a
tO 10,itOO
Gain. $3,075,000
$3,075,000
Currency
:
500,000
480.0,(0
2 >,000
Gain...
menace to
the interests of all concerned which might Gold
Total KOld and le«al tenders
$4,475,000
*1,380,000 |G:tin. *3,095,000
prove embarrassing.
This obstacle removed, the North¬
ern
Pacific itself needed
relief. 3 Over 4£
The above shows the actual changes in the bank holdings
millions
of
dividend
certificates
were
to
mature
with of currency and gold caused by this movement to and
January 1, and there were no means for tak from the inteiior. In addition to that movement the banks
ing them up, besides
which the company was havega’ned $1,000,000 through the operations of the Sub«
for the
in
need
of
funds
completion of
the Treasury. Adding this item to the above, we have the
Cascade tuunel and other improvements. A new loan following, which indicates the total gain to the New York
was the only feasible method of
relief, and in the latter Clearing House banks of gold and currency for the week
part of November the company succeeded in negotiating covered by the bank statement to be issued to-day
a 12 million third
mortgage, which Messrs. August Bel¬ It is always to be remembered, however, that the bank
mont & Co. this week have offered to the public.
As a statement is a statement of averages for the week, whereas
result of this loan, the Northern Pacific has been relieve! the
figures below should refitct the actual change in the
of its burden of floating obligations, and placed in easy condition of the banks as between Friday of last week
circumstances for the future.
During the same time, alsc^ and Friday of this week.
demonstrated by the effort to
.
—
the roads in the trans-Continental association have reached
an
agreement with the Canadian
better
rates and
restoring harmony
Pacific, thus ensuring
Into Ranks.
Week tnding January 20.1888.
Out of
Ranks.
1
j
*et Change in
Rank Holdings.
the transporta¬ Banks’luteriur .Movement, as aoove f 4,475,<kAl
$ l.:W0,i RX> j Gal n..t3.093.000
7.2 0,000
0,2 'O.itoo !G:uu.. 1.000,000
Sub-Treasury operations
of
the
signing
$7.54 i.oOO jU un..$»,09>,000
Total n:old and 'e^ral tenders
fl 1.075,000
Navigation lease is the final step of the series. This lease
Tne Bank of England gained £265,090 bullion dur¬
was not essential to the Northern Pacific, which since the
completion of the Cascade Division has its own outlet to ing the week. This represents £43,000 net sent abroad,
the Pacific Ccean.
And yet a joint arrangement was and £309,000 received from the interior.
The Bank of
desirable in the sense that it removes all cause for friction France shows an increase of 625,000 franc3 gold aud of
between the Union and Northern Pacific, and brings 3,250,000 francs silver, and the Bank of Germany, since
them into perfect accord with each other.
The follow¬
Alto¬ the last report, gained 14,780,000 marks.
gether, the situation has completely changed during the ing indicates the^ amount of bullion in the pnneipa
tion interests of the
Pacific Coast.
among
Tne
...
CHRONICLE.
THE
fc8
corresponding date
European banks this week and at the
last year.
Banks of
20,675,214
France
43,799.101
20,520,540
0,779.000
4,056,000
2,639,000
6,983,000
Germany*....
Aust.-IIung’y
Netherlands..
Nat.Belgium*
National Italy
20,675,214
91,187,547
38,718,000
21,230,000
12,225,000
3,959,000
8,101,000
47,31-8,383
18,197,460
14,457,000
8,169,000
1,320,000
1,118,000
£
£
£
£
£
£
TCngland
20,029.718
48,732.106
2.8.052,820
0,542,000
5,556,000
2,705,000
7,277,000
•
20,029.718
45,3 V),010
10,541,180
13,947,000
8,104,000
1,383,000
965,000
94.117.782
35,191,000
20.489.000
13,660,000
4,148.000
8,242,000
196,101,7011109,554,704 80,325,790 195.880,500
Tot.prev.w’k. 104.873,193 90,141,042 195,014,235; 109,303,450 80,192,796 195,490,240
Tot. this week 105,451,918 90,049,843
*
The division (between gold and silver) given in our table or coin »r d
bullion in the Bank of Germany and the Bank of Belgium is made 'row
the best estimate we are able to obtain: in neither case is it claimed to be
accurate, as those banks make no distinction in their weekly reports,
merely reporting the total gold and silver; but we believe tne divisa u
we make is a close approxim.i* ion.
Note.—We receive the above results weekly by cable, and wht e
not all of the date given at, the head of the column, they are ti e
returns issued nearest to that date—that is, the latest reported figures.
Assay Office paid $282,088 through the Sub.
Treasuiy during the week for domestic bullion, and the
Assistant Treasurer received the following from the Cus
The
House.
tom
Consisting of—
Duties.
Date.
Cold.
4
14.
“
10.
44
17.
44
18.
44
19.
Total..
u. s.
Gold
Silver Cer¬
Notes.
Ccrtlfic's.
tificates.
$573,444 73
289,388 33
479,318 30
607,041 46
719,561 46
337,432 87
$2 500
$66,000
$424,000
$30,000
1,000
29.000
213.000
8,000
43.000
375,000
46,000
52,000
10,500
43,000
490,000
63,000
4,000
4 '.000
536,000
103,000
2,500
39,000
233,000
62,000
$3,000,187 15
$28,500
$235,000 $2,301,000
$406,000
Jan. 13
Included in the above payments were
$8,500 in silver
coin, chiefly standard dollars.
TI1E ECONOMIC DISTURBANCES
SINCE 1S73.
[concluding article.]
is
the question, as Mr. Wells
presents it, which yet remains to be considered. What
has been the effect of these changes upen the relative
positions of debtors and creditors ? Have prices fallen so
rapidly as to make it harder to pay one’s debts ? or have
the impiovemenis in production more than counter,
There
one
aspect of
balanced this effect ?
medium of exchange or a
different things at the same time.
standard of deferred payments.
In modern
Money is i ot merely a
measure
It is also
of value
a
of
commercial life
this is perhaps its most important use.
A has borrowed one thousand dollars of B in 1877. Will
he in
paying that same amount in 1887 virtually have to
give back a great deal more than he received ? Or A
has
from the facts
leased
some
land
of
B at
a
about it with a degree of
plausibility to themselves. The books show that the same
interpretation has by some been applied at every period
of depression of prices the world has ever experienced,
and has just this in its favor, that it is to an extent true
of all of them.
Industrial history is but a record of
man’s increasing power.
Gradually he has been obtaining
control of the forces of nature, ever seeking, and each
succeeding decade more and more nearly securing, the
growth of two blades of grass where one grew before.
It is easy enough to say that the progression has been
marvelous since this century began.
At its very opening
Whitney's cotton giD, Watts’ steam engine, Hargreavc'S &
Arkwright’s spinning machines, and the factory sys¬
tem, simply re-created manufacture.
From that point
it has grown and expanded almost daily, concurrently
with the spread of civilization and the opening up
of new peoples to civilized habits and tastes, while giving
to those peoples through a mutual interchange of. com¬
modities the power to gratify desires.
Now why should the action of this principle culminate
with 1873 ?
Up to that date we had gone on in accord
with John Stuart Mills’ natural sequence, simply increas
ing the productive powers of the worlds; increasing the
supply of commodities in the markets, and at the same
stroke, and to the same extent, increasing purchasing
power.
All at once the natural operation of improved
methods in production, according to this claim, absolutely
changed the relation of things. Although prices since
that date have fallen as never before, man's increased
control over the productive forces of nature is held to
account for it all; and the further assumption is boldly
made that a given expenditure of labor and capital will pay
a debt of a
given amount to-day as easily as it would a few
While accepting neither proposition, let us
years ago.
for a moment notice the latter claim, as it includes
both and so many make much of i.
How, we would ask, can it bi reconciled with the
change in the position of capital ? Tne difficulty in
investing it in such a way as to obtain the same return
per cent, which could readily be had a few years ago, is
too obvious to be dwelt upon.
How can it be urged, in
view of the notable alteration in the position of the
as
Total.
Silver.
Gold.
Total.
Silver.
Gobi.
fixed rental—will
ought to premise that this is a question which, aside
already cited and others of similar irpport,
never be put so entirely at rest that those who believe-
We
will
January 20,1887.
January 19. 1888.
f[Vou XL^I.
Mr. Wells does cannot argue
lessees of farms
in
Great Britain and Ireland.
If their
paid with the same expenditure of labor, why
Only a few years ago Irish rents were lowered
account of the obviously increased burden which a
rent can
be
reduce it ?
on
paying that rental have to give much more now than full payment imposed, and they were fixed judicially for
he
was
to
forced
in 1873 ?
give
This is the fifteen years on what was believed to be a fair basis.
practical form in which the question of the appre. Hardly was the settlement completed before a further fall
ciation of gold puts itself; except that, for the majority in the prices of produce made the reduced rent as
of men, the periods of payment are Eot so long, and the onerous as the original had been.
How can we make this
change covers a series of transactions rather than a single claim accord with the situation of debts due England by
one.
The advocate of the debtor class says that his client Iudia and others due Europe by Egypt ?
Etch of them
has to pay more, because the same number of dollars was contracted when the prices of wheat, cotton, and the
represents a larger amount of wheat or sugar, coal or other products those people pay in, were, some of them, 50
iron, or almost anything which his,client is likely to pro¬ per cent higher than now. How can the proposition
duce.
The other side answers that he does not, because a be made to conform to the condition everywhere admitted,
given amount of sugar or iron is produced with corres¬ in commercial circles that the margin of profit in nearly
pondingly less laboi’; that while the amount of commodi¬ every industry is so reduced that the return to the producer
ties representing the debt may be greater, the real cost is very small indeed. In this narrow margin we have the
as measured by human labor and human sacrifice has not
basis of all the combinations and “trusts” that are being
increased in the same way; and that this cost of produc¬ formed—they are merely the efforts of struggling indus¬
tion is a fairer measure of steadiness of value than the tries to recover or save themselves by resisting the tendency
mere amount of commodities of
any kind. If he does not of the times, and are consequently extending so as to
include more and more departments of trade.
jsay this he at any rate implies it.
he in
January 21,
18£8,]
THE CHRONICLE.
89
The U. S. Census
figures for 1880 and 1870 are not
If we compare the statistics
doubt,
of occupations with those of manufactures we have a
greatly
contained in this statement, if there be such, is confined rough means of comparing the total number employed
with the average number employed; and this furnishes
to certain trades in this country, and due wholly to com¬
binations which have been able, .in a greater or less a sort of indication as to the regularity of employment.
With
first sight more
many maintaining that laborers have gained
by the recent fall in prices. Any grain of truth
regard to labor there seems at
without value in this matter.
In this connection we find that the total number (occupa¬
maintain wages in face of a tendency to decline.
Blitthose who urged this view must mike it general in its tion table) employed in manufacturing, mechanical and
application. Their argument is something like this : mining industries increased from 2,707,000 in 1870 to
True the laborer gets less wages per yard or per ton than 3,837,000 in 1880, or 41 per cent; while the average
he did a few years ag), but his efficiency has been so number of hands employed by the manufacturers increased
much increased that he makes about the same per day from 2,054,000 in 1S70 to 2,733,000 in 1880, or only 33
Meantime the articles which he per cent. The same ratio of increase is found in the detailed
which he d’d before.
returns from the mines.
But if the number of workmen
buys have fallen in price ; be has therefore less expendi¬
was increasing faster than
the amount of employment
ture and more available surplus.
from
1870
to
there
1880,
is
reason to believe that the
Our previous remarks seem clearly enough to refute
this claim.
We may, however, suggest one condition further change in the same direction since 1880 has been
It is hardly too much to say that
without stopping to cite others which, even if the assump. much more marked.
tion could otherwise be established, would interfere with the facts with regard to t liiciency of labor, on which Mr.
such reasoning.
Tne chance for the laborer depends Wells relies to explain the fall in prices, really indicate
that the laborers are producing very much less than they
not on the amount he makes per day, but on the amount
he makes per year.
Suppose that a single laborer jn a might, and are therefore suffering from irregularity of
day produces fifty per cent more goods.. If the piece¬ employment.
From whatever point of view we regard it, the attempt
work price has fallen fifty per cent, he receives approxi
mately the same wages as before. But sometimes the to prove that the' existing fall of prices is unaccompanied
market will not take the whole additional stock of goods by any appreciation of gold seems to fail distinctly.
We
differ
as
to
the
to
drawn,
or
as
to
the
may
inferences
be
which would be produced if the laborer worked all the
year through.
The effect of the change in many instances practical measures to be adopted, but we cannot shut our
has been not that the laborer produces more goods and eyes to the fact that there has been a change in the condi¬
thus earns the same amount with the same labor, but tions of currency of the world and not merely in the
conditions of production.
We have uin-paringly called
simply that he produces the same amount of goods with
less work and therefore less aggregate pay for the year, attention to Mr. Wells’ errors of fact, because we believe
that his statements, if accepted, are likely to defeat his
.even though the amount received per day be the same.
Of all industrial statistics, those concerning time lost are main purpose in writing ihe present series of articles.
What will be the practical lesson which most people will
among the most important, and at the same time the most
When he
difficult to obtain. We only know the general drift of the draw from what Mr. Weils tells them ?
facts ; but in many instances this is quite unmistakable. adduces arguments to show that currency questions have
In the textile industries it shows itself in the increasing little or nothing to do with the present stue of things he
disinclination on the part of the manufacturers to run simply urges them all the more strongly in the direction
of artificial restrictions of the supply.
Of one thing they
except for orders. In the manufacture of those articles
are certain, and that is that prices have fallen.
Whether
of wearing apparel which are subject to definite seasons
—the hat trade, for instance—the times of work are they are going to fall any more neither Mr. Wells nor
becoming shorter and shorter, the intervals of inactivity any odg else can tell them. Of the future they know
nothir g.
Of the present they know that under existing
longer and longer.
it is a great deal harder to pay their debts, or to
conditions
But we are not quite confined to these general indica¬
tions.
The English figures furnish us indirectly with the get any profit on their capital, not to speak of fully employ¬
ground for important inferences on this matter. Take ing their laborers, than it was fifteen years ago. They
those for iron, as quoted by Mr. Wells himself.
If, as he know, if they will look at the facts, that artificial stimulus
Tue "attempt to increase
says, the average product per man at the furnaces by positive bounties has failed.
If, then, the
increased from 173 tons in 1870 to 261 tons in 1881, or production does more harm than good.
matter is one which is solely and squarely a question of
51 per cent, while the total product increased only from
5,962,000 tons in 1870 to 7,529,000 tons in 1884, or 26 production and not of exchange, they see but one thing
left.
The supply must be restricted.
per cent, it follows that the amount of employment in the
Their control over the productive forces of nature they
iron industry must have decreased nearly one-fifth.
The
find illusory, unless they can control the same thing in the
statistics of occupations give us no warrant for assuming
hands of other people as well as themselves; whether by
that this change is due to diminished number of laborers
trusts or by a high tariff is a matter of indifference.
What
seeking work ; we are forced to the conclusion that it
will be the outcome of this tendency it is as yet too soon
represents forced idleness on the part of a large number
•of them.
The statistics of the British coal industry to predict. But it is at least open to question whether the
furnish the same general indications.
The number of advocates and supporters of currency restriction are not
men employed in
1874 to produce 125,000,000 tons of playing into the hands of .those who advocate and practice
restriction of trade.
There is no one who would depre¬
•coal was 539,000 ; in 1883 the product had increased to
cate this result more strongly than Mr. Wells.
Freedom
164,000,000, but only 515,000 men were required to pro¬
duce it.
Yet there is reason to believe that the number of production has no more vigorous or successful champion
he.
His last article in the series, on Government
of coal miners in 1883 was greater than in 1874, and that than
the difference in apparent number employed may be due Interference, is admirable, both in its facts and its lessons.
For the sake of what is strongest in Mr. Wells’ position,
to short time, rather than to the presence of any large
we deem it important to correct some of
his errors with.
number.of hands who were completely out of work.
extent, to
THE
90
CHRONICLE.
regard to prices.
For if he, under a misapprehension o^
the facts, persuades his readers that the monetary standard
has nothing to do with the present depression, they will
rush to the conclusion that free competition of producers
is wholly responsible for it, and will act accordingly.
WHAT
THE
RETURNS
OF NET EARNINGS
SHOW,;
In
our
what
article last week on railroad earnings we
very prosperous year
a
showed
1887 had been as regards
of the net results it
returns for the ful
railroad gross receipts.
In the case
is of course too early as yet to have
but we have this week compiled the figures
eleven months ending November 30, and from the
year,
for this
period
net for 1887
for the
exhibit
it is evident that the comparison as to the
will be
no
less favorable than that as to the
gross.
point of most importance, however, is that the
for the later months of the year have been
decidedly less satisfactory in this respect than those for
the earlier months.
Indeed, if we take the roads as a
whole, it may be affirmed that net earnings make a favor¬
able comparison for the year, in very large measure
because of the exceptionally heavy gains recorded in the
first six months.
With the beginning of the second half
The
statements
decided change occurred—so decided that
the ratio of gain in the net, from having been much
heavier than in the gross (in some cases twice as heavy
of the year a
and
over) was very greatly reduced
below that
and has latterly fallen
in^He^ross, the most striking evidence of the
change being furnished in the^ summary for the latest
month, November. We are not concerned] now about
summaries
the
at
[Vol. XIA I.
same fact in another way, and
shows the variations from month to
brings out the
same
time
month.
GROSS AND NET EARNINGS.
c
Net Earnings.
Gross Ea rnings.
1887.
Jan.
(51
Feb. (57
M’ch (58
April (59
May (58
June (50
July (58
Auk- (60
Sept. (0 j
1880.
Increase.
$
roads) 21,163,423 19,950,920 4,212,497
roads) 24,930,400 22,075,011 2,260,849
roads) 32,592,658 20,804,870 5,727,782
roads) 31,040,281 27,570,467 4,063,814
roads) 32,590,4’2 28,934,958 3,061,494
roads)
r<
j35,801,885 32,021,535
3,840,350
ads) 38,323,922 35,600,219 2,723,703
139,538,063
35,702,523
roads)
roads) ! 39,846,008 30,173.732
Oct. (05 r^ads) 142,579,981 38,504,577
Nov. (70 roads) 42,800,198 38,089,480
3,830,137
3,672,930
4,075,404
4,710,718
1887.
1880.
Increase.
$
*
$
7,213,497 4,080. 990 2,532,507
143,329
7,400,993 7,203, 064
12,176,047 8,907, 232 3,209,415
10,073,279 8,859, 054:1,813,025
11,681,438 9.342, 016 2,339,422
10,393, 220:2,187,732
'12,582,952
'
14,340,405 13,335, 249 1,005,106
4 03
j 15,408,909 13,945,
jl,523,560
,15,057.187 14,590, *55 1,006.532
17,390,910 10,179, 724 1,217.210
15,932,52+ 15,165, 4451 817,070
regard the amount or the ratio of in¬
the alteration in the character of the
exhibits is alike patent.
Excluding March, when the
passage of the Inter-State law temporarily caused a
hurryiDg forward of freight, November shows a larger
amount of gain in gross than any other month of the
year, but the increase in the net has not been so smallt
either in ratio or amount, since February, when snow
and ice interfered with traffic operations.
This would
need qualifying if we were comparing with very heavy
totals last year.
As regards special companies that is
the case, but as regards the roads as a wh< le such an
inference is not correct.
According to our summary for
that month in the previous year, the gain then was even
smaller than it now is, reaching only $514,791, or not
quite 4 per cent on the fifty-three roads then embraced
m the exhibit.
Moreover, there were twenty-five roads
Whether
crease
we
in the net,
that showed
smaller net than in November of the pre.
b
vious year (1885).
This latter circumstance
suggests the query whether
have
the small amount of gain now shown does not follow
Bhown that it is the result, in part of a legitimate inertase
because of unfavorable exhibits by special roads or secin the cost of operating, in part to the fact that railroad
lions.
As a rule it may be said that the roads which last
managers have deemed the time propitious for new addi
tions to rolling stcck and for improvements perhaps lcng year had losses in that month now have gains, and vice
are a number of lines and systems which
needed, and also in part to the further fact that in seme versa, but there
important sections of the country rates have been greatl) report a decrease this year in addition to a decrease last
reduced, thus diminishing the margin of profit and year, chief among which may be mentioned the Penn¬
increasing the percentage of expenses to earnings. These sylvania Eastern system and some of the companies con«
trolled by the Pennsylvania, like the Northern Central,
points as stated we have sufficiently developed in pre
the West Jersey and the Camden & Atlantic.
One item
vious reviews, aud we wish now to note merely tho
is
however which
exceptional affects the comparison in
change itself and to direct attention to the fact that so
the
reasons
for this.
On
previous] occasions
we
November, and that is a falling off in the net of the Phila¬
becoming les3 prominent with the closing
months, u is more matked in November than in any pre. delphia & Reading in the sum of half a million dollars.
Tnis result is not occasioned by an actualjoss in that
ceding month. IF re is a summary of the results both for
month, but follows merely from the method of making
November and the eleven months.
up the accounts.
November is the closing month of the
Jan. 1 to November 30.
Month of November.
company’s fiscal year, and in that month in lh86 anextra(Go roads.)
(115 roods.)
ordinaiy item of large magnitude was included in the
1
1880.
188?.
1880.
Dec.
! lhc.or Dec
1887.
return.
As a result of this loss on the Reading, and also
*
*
*
$
j
*
;
*
because of a falling off on the Northern Central, the
Gross earn’s 42.8 0.1981 38.(189,480 + 4,710,718 400,:’07,349 350,822.958 +43,544,391
3,893,042125 7,908,0>4 232.490.043 +2 >.417,411
Oper. exp... 20,817,(57; I 22,924,1)3
group of coal roads this time shows greatly diminished
Net earn V
+•817,0701 U2,4o9,2t5 124,332,31J + 18 120,950
10,982,',2] 1 15,105,44.
net, though the Allegheny Valley, the Western New Vork
Thus though gross earnings for the month increased & Pennsylvania, the Pittsburg & Western, and the
$4,710,718, net increased only $817,076. How strikingly Summit Brauch and Lykens Valley all have enlarged
different the result was earlier in the year is evident from their totals. It will be remembered that almost all through
the fact that for the eleven months (including, of course, the year the coal roads, and especially the Reading, were
the unsatisfactory exhibits for November and some distinguished beyond all other roads for the exceptional
months preceding) a gain of §43,544,391- in gross is ac
amount and ratio of their gains.
This is very clearly
ccmpauied by an increase of $18,126,950 in net. In shown in the exhibit for the eleven months of the year
other worus, while the ratio of increase in the gross has where the gain on this group of companies reaches nearly
not varied materially, being in fact slightly higher for
60 per cenr, or decidedly more than on any other group.
November (12^ per cent) than for the eleven months (12^ In the following we show the coal group as well as all
per cent), the ratio of increase in the net stands at 15 per the other groups into which we usually divide the roads.
cent for the latter period against only 5 per cent for the
The figures in parenthesis indicate the number of roads
month.| kTLe following recapitulation of the monthly included in each group.
j
far from its
nc. or
t
I#
•i
i
'
i
January 21,
November.
1887.
W’st of Miss’uri(2)
Pacific Syst’ms(ll)
Southern r’ds..(23)
Coal companies(8)
Eastern co’s....(5;
12,483,618
1,285,669
5,68 V<4i
11,492,979
1,104,756
5,387,495
1886.
352.020
$
3,758,218
338,007
2,639,146
2,593,357
$
$
$
Trunk lines
(9)
Middle Western (9)
Northwestern ..(7)
1887.
1886.
3,630,730
868,414
750,357
342,413
9,917,927
5.537,508
5,694,530
8,230,704
4,809,900
5,125,259
4,409,258
2,328,423
1,784,769
673,1-64
603,312
201,803
Mexican roads .(2)
049,791
524,652
233,899
Total, 76 roads
42,800,198
38,089,480
15,982,521
P.C
$
-127,4«8
+ 14,013
+45.789
+43,571
298,842
3,456,800 +1,012,458
+283,853
2,044,590
-513,225
2,297,994
+19,183
182,680
+38,942
194,957
Southern r’ds..(13)
Coal companies 7)
Eastern co’s....(5)
Mexican roads.(2)
3
4
2
15
29
14
22
20
15,105,445
+817,076
5
42,295,944 38,061,541
2,969,209
4.0P5.412
21,310,582 22,049,514
2,572,219
3,329,085
7,004,204
8,348,669
89,411,387 79,351,941 30,392,004 32,645.58!
41,082,038 34,640,903 15,101,785 12,621,280
9,484,012
50,377,270 43.065.691 15,162,432
2,408,143
2,725.500
6,958,019
7,724,066
1,460,745
2,075,855
5,005,777
5,971,390
+4,234,403
+1,090,143
11
142,459,265 124,332,315
(9) 132,178,5f 5 118,979,902
Middle Western^?) 12,911.106 10,900,755
Northwestern. .(4) 52,362,768 50,855,103
W’st of Miss’urU2)
Pacific Syst’ms (11)
overshadowed the closing days
Inc. or Dec.
Jan. 1 to Nov. SO.
Trunk lines
Total. 60 roads 400,367,349 350.822,958
37
—738,932
3
+756,860
+ 3,747,078
+2.480,499
+5,678,420
+257,303
+615,110
29
+ 18,120,950
15
Note.—Included under the head of—
11
20
00
10
42
Detroit
Trunk Lines—The Clevland Col. Cin. & Ind., Chicago & Grand Trunk,
Gr. Haven & Mil., Grand Truna of Can., the N. V. Lake Erie & West.,
Ohio & Miss., the Penns} Ivan a (both east and west of P. & E.)
the
& Pitts.
Ind., Cleveland
Central.
North., Burlington & Quincy, Ch'c.
Middle Western—The Cairo Vincennes & Chicago, Chicago St. Louis
Cin. Ind. St. L. & C., Pet. Hay City Sc Alpena, Grand Kap. &
& Canton, Marietta Col. & Nor., Scioto Valley and Toledo & Ohio
Northwestern—The Burl.nur'on Cedar R. &
Burl. & Northern, Minneapolis & St. Louis,
Sc St. Paul and Chic. Milw. Sc St. Paul.
Keokuk & Western, Green Bay W.
West of Missouri—The Denver & Rio Grande and Denv. & Rio Grande West’n
Pacific Systems—The six ‘-'outhern Pacific roads and the Union Pac., Northern
Pac., Canadian Pac., California Southern, and Oregon Ry. Sc Nav. Co.
Southern Ronds—The Central of Georgia. Ches. Ohio A S. W., El'z. Lex. Sc
Big S., East Tenn. Va. & Ga., Louisville & Nashville, Nashville Chattanooga &
St. Louis, N rfolk& Western, i.ouisville New Orleans & Texas, Memphis &
Charleston, Shenandoah Valley, Fort W. & Denver City, Cape Fear Sc Yadkin
Sc Petersburg, Seaboard &
Rich. & W. Point system.
Western N. Y. & Penn., Phila. & Reading HR., P. & R.
Valley, Kentucky Centra', Petersburg, Richmond
Roanoke, Carolina Central and the six roads in the
Coal Companies—The
Coal & Iron Co.. Northern Central, All.
And Summit Branch.
Valley, P»ttsburg& West. Lykens Vul.
Eastern Companies—The Baltimore & Potomac. West
N. Y. Out. & Western and Rome W it. & Ogdensburg.
Mexican Roads— The Mexican Central and
Jersey, Camden & Atl.,
Mexican National.
from this that if the coal roads were
omitted the aspect of things would be somewhat changed
Instead of an increase of only $817,076 in net, the
increase would then be $1,330,301, or nearly ten per cent
And yet one cannot ignore the fact that while the ceaj
roads make a poor showing, the Pacific roads, on the
other hand, make an exceptionally good comparison, and
contribute an increase of over a million dollars, so tba^
It
be said to have opened well. The political anxiety which
of the past year has been in
some measure allayed,but the situation in Eastern Europe shifts
in such an uncertain manner and with so little warning that
it is impossible to know what a day may bring forth.
Financially the outlook is encouraging. We appear now to
have entered upon a period of cheap money, which should
offer a very favorable condition for trade expansion.
Some
of
the
leading
joint-stock
banks have announced
their dividends, which have been well up to the level of last
per cent
year. The London & Westminster, indeed, pays
more than then, and this circumstance seems to have strength"
ened the tone of*confidence, which is undoubtedly much more
distinct than it was.
Stock Exchange speculation is again
reviving. Not only is the corner in copper well sustained^
but there is some talk of
a similar arrangement being
plates,
stocks
attempted with tin
of which both here and in
America are represented to be unusually small. All this
clearly demonstrates that there is a strong belief in the com¬
mercial future, and if peace be maintained the volume of
business during 1888 will doubtless
compare favorably
with that of the year just concluded.
The directors of the Bank of England have made no change
in the Bank rate this week, being doubtless influenced by the
usual heavy movements of money at the close of the year. It
is hardly likely, however, that a reduction will be delayed
over next week, as there is already a superabundance of capi¬
tal unemployed and the supply will be increased by the grad¬
ual distribution of dividends. The value of money on the
Continent, also, is falling away, and the tendency here there"
fore must be towards ease. As it is, the discount establish¬
ments have been compelled to reduce their rates of allowance
on old deposits % Per cent, giving 2 Per cent for money at
call, 2}4 per cent if with notice, and will take new money
only on special arrangements. The close of the week has wit¬
nessed difficulty in placing short loans at 1% to 2 percent,
while the discount charge for three months’ bills has barely
exceeded 2 per cent. In the Bank of England return the loss
•n the reserve has amounted to £501,592 and the proportion to
liabilities, which last week was 43*11, is now only 33 05 per
cent, but this reduction of proportion is partly accounted for
by the increase of oyer £2,300,000 in the deposits held.
The rates for money have been as follows:
may
Net Earnings.
Gross Earnings.
91
CHRONICLE
THE
1888.J
appears
if both groups are excluded we are left with an increase
of only $317,843—a result not quite so satisfactory even
as that with which we started.
The truth is, the character
Interest allowed
Open market rates.
for deposits by
Trade Bills.
Bank Bills.
Disc't Wse.
Joint
London
7 to 14
At
Stock
Sic
Four
Three
Six
Four
Th ree
Banks. Call.
Months Months
Months Months Months Months
Days.
2*4 2H2H
2*4
3mT-*3U 3%i.3\I3%43)i 3*43+ ! 3*4^4 3*4® 4
nearly all over the country is much less Doc. 2
2*6 25+ 254
2*4
3
-3
<£
-3*4?4
9
2'*<* 3
j3504 304
favorable than heretofore.
The trunk line group, for
2*6 254*254
2*4
vO
i',i .*354 30'J>4 303H
1*5
2%<Z
2*6 214 2«
2%
20
254*
3«4@3%'303*f
21
instance, shows diminished net, the Pennsylvania Eastern
2*6 214-294
25-9
254* - 304 1304 3**®*
faO
254*254 20
2
,'2*4-2*4
214
2
SO
-'2-03}*
254'«
3*4
203*
20
&2%
system, the New York Lake Erie & Western the Ohio Jan. (5
Bank of
& Mississippi and the Grand Trunk of Canada all
The following return shows the position of the
reporting losses. In the Middle Western section the gain England, the Bank rate of discount, the price of consols, &c.,
in net is merely nominal, and the same is true of the compared with the last three years :
of the exhibits
“
-
“
-
-
“
-
-
-
“
-
Northwestern section.
smaller ratio
The Southern section has
increase than
of
a
much
heretofore, and there
are
excluding 7-dav and
Circulation,
five roads among them that have lower totals. Altogether
there are 22 roads that have lost in net out of the 76
reporting; only four of these twenty-two have suffered a
decrease in gross earnings (though the aggregate of the
roads showing decreases is six), and this demonstrates that
heavier expenses are the main reason for the less satisfac.
tory exhibits made. The Mexican and Pacific groups are
the only ones which do not embrace one or more systems
net for November.
with diminished
The Pacific roads
heavy gains to the higher rates on trans Conti
nental business, to the development of the Pacific Coast
territory, and also to the fact that some of them are
comparing with very poor results in November, 1886.
owe
1886.
1885.
1884.
£
£
£
£
24,807.745
6,799.331
23,407.338
14.243 230
22,242.332
Reserve of notes
11,556,409
20.104,214
and coin.
33'05 p. c.
24.827,720 24,932.015 25.198,300
7,038,920
5,154.547
9,002,010
23,945,781 27.880,103 26,820 332
17,931.805 17,940,015 15,753,605
22,775,089 22.303.321 24,907,050
10,229,511 10,782,700 11,274,408
19,307,231 19 904,811 20.722,768
33% p. 0.
32*$ p. C.
30% p. C.
5
4 p. c.
4 p. C.
o. c.
9»54
103*4
101.836.000 169,583,000 119,786.0* 0 119,277,000
Clearing-House return
of discount and open
market rates at the
cities now and for the
follows:
previous three weeks
The Bank rate
chief Continental
have been as
[From our own correspondent.]
London, January 7, 1887.
yet been fully resumed after, the holidays,
but a fair amount of animation has been observed in most
■commercial and industrial departments, and the new year
Business has not
5 p. c.
99-54
100?4
their
Iplonelavu! Co mwercial g n glisli gLcxus
1887.
6.
Jan.
Dec. 30.
Dec.
23.
Dec. 16.
Rates of
Interest at
Bank
Open
Bank
Open
Bank
Open
Bank
Open
Rate.
Ma rket
Rate
Market
Rate.
Market
Rate.
Market
2H
254
2%
254
2*4
3
2H
2*4
3*4
3*4
2%
3
3
3
3
m
3
3
3
2
3
254
254
3
1%
3
2%
3
2%
2H
2%
2H
Brussels
3%
3
0*4
3*4
2*4
3*4
4
4
4
4
4
4
4
4
Madrid
4*4
4*4
4*4
4*4
454
4*4
4*4
5
5
5
5
5
5
5
3
3
3
3
8
8
3
3
Paris
Berlin
Frankfort
..
..
Hamburg
Amsterdam
...
Vienna
4**
St. Petersburg
5
Copenhagen.
3
'
3
3
3
3
2%
2*4
254
2*4
3*4
[Vol. XLVI.
THE CHRONICLE.
92
the state of the
Pixley & Abell write as follows on
Messrs.
bullion market:
The following shows the imports of cereal produce into
United Kingdom during the first 18 weeks of the season,
other items compared with previous years:
the com¬
IMPORTS.
ceased, but
1887-8.
1880-7
Holland.
bank has pur¬
£238,000 has arrived Wheat
cwt. 18,103,237 17.302,034
£4,000 has Barley
0,202,412
7,230,048
and £5,000 Oats
6,244,500
6,184.503
Peas
1,304,813
855,081
and de¬ Beans.
870,147
010,002
the price to Indian corn
8,107,554
8,202,042
449|od. The rate obtained for council drafts, however, was not deemed Flour
0,050,210
5,564,816
satisfactory, and we have to report a fall to 44,i d. The Indian ex¬
Supplies
available
for
p
consumption
changes have been rather weaker, owing to reported severe rains in the
Bombay Presidency. £70,000 has arrived from New York. £72,000 September 1):
has been sent to Bombay, per P. & O. steamer.
1887-8.
1880-7.
Mexican Dollars—Last transactions took place at 43%<1., but, in sym¬
Imports of wheat.cwt. 18,103,237 17,302,034
pathy with silver, are now a shade weaker in tone.
Imports of llour
5,564,818
0,050,210
Bales of home-grown. 15,76(5,325 13,440,224
The quotations for bullion are reported as follows :
Gold—The demand for Germany, which has continued since
mencement of November with little intermission, has now
there are instead inquiries for India and
The
chased £202,000, and sold £80,000 for Germany.
from Australia; £38,000 has arrived from South America;
arrived from the Cape. The Ganges takes £70,000 in bars
in coin to Bombay.
Silver became somewhat weaker, following our last circular,
clined to 44%d., when some special requirements raised
London Standard.
Bar gold. flne....oz.
Bar
Dec. 29.
Jan. 5.
d.
s.
0%
77
1%
77 10 M
77
10%
oz.
Bar silver,
3.845—'The
Aver,
Aver,
d.
d.
Bar silver
gold, contain’g
20 dwtj silver..oz.
Dec. 29.
Jan. 5.
d.
s.
77
44 7-10
44 11-16
44 13-16
45 1-10
Cake silver
47 15-16
48 3-16
43 7-16
43%
S.Am.doubloons.oz.
Mexican doD—oz.
price wheat..
price wheat
.
oz.
.
local
this week by some heavy dealings in the three per cent
loan stock. This stock, which was created under last years
budget, is for £37,000,000, but only £15,000,000 of this is
and the capital is irredeemable for twenty-five years.
application was made to the Stock Exchange committee
£3x5,032
829,057"
1,22.5,500
1,373,100
0,272,074
8.0 -5,546
5.361.745
of stocks OD
1.75,898
: aC.Uoi
Ve
1884-5.
1,8£"-0.
10. 3 7,1,80
17,112,295
5.301.745
17,064,154
30,376,970 30,a-, 1,720
39,538,194
1885-0.
1884-5.
31s. lid.
32s. Id.
4..
l:
.
1880-7.
35s.
31s.
80s. 3d.
30s. lOd.
Od.
9d.
markets—Her Cable.
daily closing quotations for securities, &c., at London,
reported by cable as follows for the week ending Janu¬
The
are
ary
excitement
thrown into some
17,112,295
7,137,502
4,234,810
* L,G48
20s. lid.
Financial
1884-5.
1WQ5-0.
10.0 ;r,i80
5,5 1 .),500
4,1 >3,205
»*•'1,808
1887-8.
..week. 308. 9d.
season.
.English
contain¬
ing 5grs. gold..oz.
Span.doubloons..oz.
The consol market has been
40,510,791
Total
SILVER.
London Standard.
GOLD.
the
and
20.
Mon.
Sat.
London.
44%
Silver, per oz
d. 4451(.
102ll16 1027i6
Consols for money
102 h>
1023.
Consols for account
Fr’ch rentes (in Paris) fr. 81’07 *2 80-8712
11034
110-It
U. 8. 4%s of 1891
129
129 %
U. S. 4s of 1007
63 4
033b
Canadian Pacific
78 hi
79%
Chic. Mil. & St. Paul
29 4
293b
Erie common stock
121
120%
Illinois Central
56*8
5(5%
Pennsylvania
34
Philadelphia & Reading. 33%
Ill
110%
New York Central
Tues.
Wed.
444
443s
Th urs.
Fri.
44%
44% g
1021116 102146 102146 102916
102 0,6
10234
102%
10234
81-10 80-97% 81-1212 81-20
free,
H034
An
11034
11034
11034
129
129
129
129
for a
62%
02%
02 7s
03
77%
77%
7<S%
7830
quotation for this stock, an1 the Government broker at the
28 %■
284
29 4
294
same time gave notice that he was prepared to exchange the
120%
121
121
1207b
50
55%
50 %
5(5
stock for consols at par. As the interest on the new stock is
32%
334
33%
337b
1104
110%
110%
11034
guaranteed for 25 years, there was a rush to secure as much
as possible—so much so that the broker soon demanded a
premium of
per cent, making the price 104L£. The strong
(ffommimial and miscellaneous Itros
desire shown to obtain the stock is very clear ev.dence of what
thought about the forthcoming budget proposals of Mr.
National Banks.—The following national banks have been
The belief is everywhere accepted that he has organized since last advices :
Merchants’ National Bank of El Dorado, Kansas. Capital,
elaborated some scheme whereby a reduction of the interc
if;100,000. Alfred W. Ellct, President; N. F. Frazier, Cashier.
on the deb: will be rapidly effected.
The amount of stock
North Texas National Bank at Dallas, Texas. Capital, $300,000.
B. Blankenship, President; F. R. Malone, Cashier.
eanverted so far is believed to be about two or three millions,
First National Bank of Fredonia, Kansas. Capital, $50,000.
Eugene Follensbee, President; Martin Abernethy, Cashier.
but the Government broker lias this afternoon given notice
Imports
and Exports for the Week.—The imports of last
that he will ofikr a further £10,000,000 in the course of next
Js
Gosclien.
week, compared with those of the preceding week, show
increase in both dry goods and general merchandise.
week.
an
just issued for December and The total imports were $10,489,610, against $7,856,568 the pre¬
the 12 months are decidedly favorable.
It is evident that the ceding week and $8,775,222 two weeks previous. The exports
month
was
exceptionally
good one. for the week ended January 17 amounted to $4,949,847,
closing
of the year
an
In the exports there is an increase of £3,231,954 for the month against $6,680,795 last week and $6,025,868 two weeks previ¬
ous.
The following are the imports at New York for the
and £8,985,686 for the year, and in the imports gains of week
ending (for dry goods) January 12 and for the week
£3,162,685 and £12,553,920 respectively. The totals are as ending (for general merchandise) January 13; also, totals
since the beginning of the first week in January :
under:
The Board of Trade returns
Re-exports Foreign—
/—Imports Foreign■-*.<■ Exports British
d
■
1885
1880
1887
Year.
£
Dec.
£
17,201,428 218,044.;Y 0
17.153,510 2t2.482.7 4
20.3^5.404 221.898.440
The movements in nrecious
To and
£
£
30.153,588 370.4 4.314
31.011,283 319,381.0*6
34.173.908 301.935.000
....
GOLD.
1885.
1886.
£
£
628.121
1.352,252
Imports In Dee....
Do
12 mouths. 13,374.119 13.392.2 6
2.131,034 2,213.811
Exports in Dec....
12 months. 11,930,818 13,783,706
1)0
1887.
Exports in Dec
12 months.
Do
To and
809,316
726.575
858,968
7,471.6*9
7,82.5. *81
476.731
7.223.699
792,898
follows:
1880.
1885.
1887.
£
1.405
299,332
3.021,542
1,002,735
2,995,035
35,975
1,760,764
220.108
2,75i ,508
109,244
1,697,181
2,213,741
15
800
2,865
35,349
7.807.404
0.011
37,010
348.931
grain trade has become quieter, and the tendency
has been lost. Wheat has been difficult to
dispose of except at some concession. The change in the
weather has caused some weakness, but the depression was
apparently mainly due to the weakness reported from New
York and Chicago. Liverpool is shown to have about 370,000
qrs. of wheat more than last year, but there is a deficiency of
nearly 20,000 sacks in the stock of flour, and in other respects
the statistical position can hardly be said to have altered in
way as to cause weakness.
The supply of wheat
flour afloat to us is fully 600,000 qrs. below last year; but
wide difference may be to some ext lit attributed to
such
a
greater liberality of the imports
during the past two weeks.
The market is just now, however, in a disappointing condition,
and is not bearing out the promise of two months back.
The following shows the stocks of grain in London:
Wheat
Barley.^
Jan. 1, 1888.
257,820
qrs.
81,0(51
588,213
45.7(50
Oats
Mai 7C
JFlour
L !
t
.....sacks.
407,005
-1887.Jan. 1.
Ort., 1.
344,(521
3(55,525
(57,859
122,(520
551,408
758,004
37.143
48,080
312,043
352,144
1S88.
3,907,458
0,320,381;
$0,234,913
$9,251,076:
$9,070,518 $10,489,G10
Dry Goods
Geh’l mer’dise..
$4,930,345
$4,020,019
11,908,055'
$5,009,164
12,005,408
.$5,818,330
12,527,839
Total 2 weeks..
$15,008,990
$10,588,074 $17,074,572
$18,340,178
Dry Goods
Gen’l mer’dise..
Since Jan. 1.
10,072,045
$3,218,942,
$3,473,714
7,015,890
5,857,570
In our report of the dry goods trade will be found the im¬
ports of dry goods for one week later.
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending January 17, 1888, and from January 1 to date:
EXPORTS FROM NEW YORK.
'
$7,009,474
For the week....
Prev. reported..
8,034,919
|
$0,395.719|
o,(>70,$39 j
$15,704,393 $12,000,588
Total 2 weeks..
The
at the
since
1880.
1885.
|
1888.
|
1887.
$0,261,034s
5,982,409
$4,949,847
0,080,795
$12,241,103 $11,630,042
following table shows the exports and imports of specie
port of New York for the week ending January 14, and
January 1 and for the corresponding periods in 1887
and 1886.
EXPORTS AND IMPORTS OF
and
the
the
|
1887.
|
$2,930,095!
The
towards buoyancy
1880.
18S5.
Week.
Total
£
0,543
9,323,614
9,377.601
6 5,3r3
9.852.287
as
59,100.598
YORK.
$2,207,455
For
from United States.
£
2.350
9U9.044
10.020
£
£
58,359.104
50.234,203
5,213.005
708,111
9,939.934
1.11. >,628
81 EVER.
Imports in Dec....
12 months.
Do
* £
5,172,782
4,590,559
metals have been
from all Countries.
FOREIGN IMPORTS AT NEW
d Colonial Mdse, dr.
1 ec.
Year.
Irish Produce, dc.
lire.
Year.
Colonial Produce.
SPECIE AT NEW YORK.
Imports.
Exports.
Gold.
Week
$2,200
Great Britain
France
$2,200
*
Since Jan. 1,
$1,718
$1,718
48,030
Germany
West Indies
Mexico
South America.
All other countries.
.
Totnl 1888
Total 1887
Total 1880
Week.
Since Jan. 1.
..
19,212
1,0(52
13,803
1,002
2(5,808
105,908
8,019
4,000
8,019
7,750
8,(508
4,000
10,411
19,501
$120,127
$41,344
407,910
$41,0271
330,946!
1,084,994!
345,457
1.080,294
25.891
.
$99,397
2,00(5,531
503.742
Januart
Imports.
Exports.
Silver.
Since Jan. 1.
Week.
$072,550
$399,700
Great Britain
France
Germany.
West Indies
Total 1888
4,439
1,439
3,893
14,570
10,594
1,184
3,055
43.803
214
Mexico
South America...
All other countries...
1,120
3,000
3,000
-
$087,270
$100,300
199,900
22.000
321,8011
.
828,078
3,055
43,578
$05,850
time, $87,8.27 were
—Messrs. Rand,
$72,78$
7,587
10,283
Of tlie above imports for the week in 1888, $14,152
American gold coin and $7,058 American silver coin.
exports during the same
sinking fund 6 per cent gold bonds, duo 1036. Interest and
capital of the bonds are guaranteed by the Northern Pacific
Railway Company. The bonds are issued at the rate of $16,000 per'mile of completed road, and are listed at the New Yoik
Stock Exchange.
$
$
40,022
13,502
were
Of the
American gold
Jourdan is confident that
operation in
unforeseen obstacle is encountered
Kings County Elevated.—Gen.
two
Alanning, 14 Wall Stre et, New York, has
list of New York bank stocks showing dividends
John B.
—Air.
prepared
a
and bo; k values Jan. 1, 1888.
—The Ilomestike
dividend of $25,000,
Elevated Rtilwav will be in
months unless some
McNally & Co. desire to inform railroad
office in New York where estimates
engraving, printing, &c.
officers that t icy have an
can be fu/nished for map
—The Ontario Silver Alining Company
dividend of $75,000, payable at the office
& Co. on the 31st inst.
coin.
the Kings Count}
& Co. and Fahnestock & Co. offer
Spokane & Palouse first mortgage
—Messrs. Edward Sweet
the unsold balance of the
Since Jan. 1.
Week.
10,000
3,000
Total 1887
Total 1880
93
THE CHRONICLE.
21, lSf8.J r
has declared its 140th
of Ale^s.s. Lounsbery
Alining Company has declared its 114th
payable at tlie transfer agency of Alessra.
The road is now nearing Fulton Ferry, an! the force on the
other end of the line has been increased, so that the running
of trains need not be delayed on account of construction
Lounsbery & Co.
Street, Court and Washington streets, Elm Place and Duffieli
Street, Fort G.eene Placp, Cumb-rland Street, Vanderbilt
Avenue, Grand A.venue, Frannlin Avenue, Nostrand Avenue
and Ralph Avenue.
The directors have re ejected the officers
of the road lor the ensuing year, as follows: President,
James Joil’dan; Vice-President, Wendell Goodwin; Treas¬
Auetion Sales.—Tlie following were sold this
auction by Alessrs. Adrian II. Muller & Son :
Share 9.
1
Shares.
urer, James II.
son; Executive
Mining Co
G*s ;
37r>j00Edison Elect. Light Co. 158 !
2 Edison Elect, lli'g Co..
SOL* j
towards the lower terminus. The location of stations is as
follows: Fulton Ferry, Sands Street. Clark S:reet, Tdlary
Frothingham; Secretary, Henry J. Robin¬
Committee, Edward A. Abbott and Wendell
Goodwin.
August Belmont & Co., of New York, offer
by subscription, at 87and
accrued interest , $8,000,€00 of
the $12,000,000
general third mortgage bonds
of the Northern Pacific RulrorJ Company, authorized in
November las'- by the holders of the preferred eto k.
Thtse
bonds run fifty years, are payable in gold, bear interest at 6
per cent per annum, an l the mor gage is a lien upon the entire
property of the company, including its equipment, leaseholds
—Messrs.
The prospects of the Northern Pacific Rail¬
promising at the present time, and the net
earnings for the six months ended December 31 last indicate
a large surplus aI>ove the fixed charges and expenses.
For the
whole year the charge for mortgage interest, including the new
third mortgage, will be only $5,0^0,170.
It is stated the hooded debt of the railroad upon its main
line and Cascade Branch, 2,170 miles in length, aggregates
about $38 000 per mile, while the cost of coi struction and
equipment has been about $100,000,GOO, or an average of
$46,000 per mile. This includes the cost of the two great
tunnels through the principal range of the Rocky Mountains,
at Bozeman ami at Mullan’s Pass, and the greater part of the
cost of the Cascade Mountains tunnel, nearly two miles in
length, now nearly completed, as well as the heavy expendi¬
tures for the three great bridges, respectivrly spanning the
Missouri, the Snake and the Columbia rivers, together with
other permanent structures that required a large outlay of
and land grant.
road seem very
money.
The*subscription will
open on
—The
Daly Alining Company announce a dividend of $75,share, payable by Messrs. Lounsbery
000, or fifty cents per
& Co.
80'
i
50
3 0
$2
Ind.Cen.E’y.
1,000 Las Nneve Minas do
Maria Cold A
-'Mining Co
$8
•1,000 Woodside Mining Co.. )
400 Selma Rome A Dalton >$10
RR. Co., Trust Cel t ... )
Santa
Silver
.
...
5,000 Georget’n Eureka Min¬
$15
ing (Jo.
000 South. IT way Seen. Co. $15
100 Central Mining Co. of
Michigan
$10 per sh.
25 N. Y. Bal’coRoek Co
$5L
100 Cattle Ranch & Land
Co., Lnn., prof
$180
500 Taylor Plumas Mill A
,
Co.*,
j
j
.
$11
Mining Co
10
24*3
100
coupons on
83*3
$2
4G12
$30
$2,530*20 Col. Chic. A Jnd.
f Central ITway Co., Coi t. for
Coup, from lne. bonds ... $115
$8,000 Second Ave. Lilt. Co.
1st Cons. 5s,
$50
ing Co.
3S0 Amor. Land A Coloniz¬
ation Co., Scot land.$1,1)50
275 Ill.A St. Lou. Bridge Co. $75
5 Standard Eire Ins. Co.. 1004
25 Chemical Nat. Rank., 3,100
25 Metropolitan Trust Co. 100
10 National Park Rank... 108 >s
74 Long Island Rk., B’kl’n. 110-4
75 Fourth National Rank. 141 ^
100*4
188
$1 d per sh.
Jioatfs.
$14 Edison Elec. Ill. Co., Ser.
$800 Subser. to Yellowstone
Nat. Park linpr’t Co
$d,900 Denver A Rio Grande
West. IT way Co., Con. Cert.
$0,000 Covin. Fleni. A Pound
Gap R’way Co., 1st M., all
j
.
20 Donv. A- Rio Gr.W. K’y.
100 Lit tie Pittsb.Cons. Min¬
00
104*4
140
Continental Nat. Rank. 122
5 Western Nat. Rank
12 Hanover Nat. Rank
200 Cinn. Ham. A Day. RR.
Co., pref
100 Amer. Loan A Tr. Co..
400 Waterbary Has Lielit
..
2 Col.Chi. A
105
500 ( inn. Ham. A Dayton
Co., common
09 E* ft'70
50 Amer. Loan A Tr. Co.. 100 *3
3s Imp’s’ A- Tr’s’ Nat. Rk. dtO
1,720 Horn Silver Min. Co., 82c. p. y. ;
1,000 KeystoneSih’r.Min.Co. S t
5 Consumers’ Coal Co.
#1
104*4
1000
$20,000 N. Y. City 7s Cons.
Stock, 180 1
1 2d7s A int.
$05 Chesapeake A Ohio lilt
Co., deferred int. Scrip
10
$25.ooo
1
i
Minneapolis A St.
Louis RR. Co. 50 yrs.
I
Cons.,
1032
50 *2
$2,000 N.Y. City 7s Reg. Cro¬
ton Water Stock, 1000.130G A int.
giutluug and ffiuauctal.
Monday, Jan. 23, and close
Jan. 20 at 3 P. M.
of the Chronicle, under the head of
Reports and Documents, will be fouud an article at some
length on the subject of Western Farm Mortgages. This arti¬
cle is from the pen of Mr. Charles N, Fowler, President of the
Equitable Mortgage Company, which has a subscribed capital
of $2,000,000, with $1,000,000 cash paid in.
The company has
ofliers in New Yoik at 208 Broadway, in Boston at 117 Dev¬
onshire Stre» t, in Philadelphia at the corner of Fourth and
Chestnut streets, in Kansas City, Mo., and in London, Eng¬
land, at 150 Leadenhall Street, E. C. The facts and figures
given by Air. Fowler are worthy of the attention of every
00 Manhattan Co. Rank..
3 0 Merchants’ Ins. Co
22 Ellen;\ Ins. Co
50 .Vat. Rank of Republic.
OO
122 Gold A Stock Tcleg. Co.
0 Iowa Land A Loan Co.
r>0 Buff. Koch. A Pitts. KI!.
-JO Marshall Consol'd Coal
week
FISK
1IARVEY
&
SOYS,
—On another page
interested directly or remotely in this class of invest¬
experience of many years forms the only basis
for any rational argument on the subject.
It seems almost
self-evident that a farm loan carefully and judiciously placed,
person
BANKERS,
28 NA SSAU
RANKERS, CORPORATIONS, Mereuants
of BANKS,
ACCOUNTS
and individuals
STREET, NEW YORK.
received subject to demand draft.
Interest allowed on
balances.
Our business
funds awaiting
in this department is steadily increasing. Many having
investment lind it a convenience to let them lie with u«
drawing interest while
deciding upon what securities to
buy.
ments, as the
an excellent investment,
especially when made by an
experienced company financially strong and capably man¬
is
aged.
—For further
convenience of the
Fecurity-holderR of the
the Reorganiza
Houston & Texas Central Railway Company
tion Committee have is-:ued and advertised a
important part.
operates the extensive trans-conti¬
the Houston & Texas Central is an
as the time
and depositing
—Attention ig called to the card of the American Loan
Trust Company in this issue of the Chronicle. There
6 per Cents. Cannot
recent charges
be Drawn.
$41,307
IS.000
Xet earning*
Interest charge
$23,307
Surplus
FOR SALE BY
C O E F I X
have
S T A X T O X,
«&
HANKERS,
11
&
in the officers and board of direc
tors, but the new members as well as the old ones are among
our most substantial and well-known citizens.
The institu¬
tion has a full paid capital of a million dollars and is pre¬
pared to transact the large and varied business usual with such
corporations.
some
20 Year Gold
Bondholders will obviously find it to their
interest to give prompt attention to this matter,
for at semi ng to the reorganization agreement
securities under it expires on Feb. 10.
been
SARATOGA,
5
synopsis of the
plan of reorganization. The principal and interest of all the
new bonds are to be guaranteed by the Southern Pacific Com¬
pany, which controls and
nental system, of wffiich
o o o.
X. V., GAS & EL. LIGHT CO.
1 o o
FIRST
WALL
STREET,
NEW
YOUK.
SPOKAXE & PA LOUSE
(NORTHERN PACIFIC)
MORTGAGE 0 PER CENT GOLD RONDS,
FOR SALE BY
EDWARD SWEET &
38 BROAD
STREET,
CO.,
FAIIXESTOCK & CO.,
2 WALL
STREET.
THE CHRONICLE.
94
amount, though the reduction in the Bank of England rate
^lue hawkers' (BazctU.
had
DIVIDENDS:
announced
The following dividends have recently been
Per
Cent.
Name of Company.
Railroads.
Atlanta & West Point
Illinois Central...
New Castle & Beaver (quar.)
•'
3
3*9
2*9
When
Payable.
:
Books Closed,
(Days inclusive.)
Jan.
Mcli.
Jan.
10 Jan.
1 Feb.
2
Jan.
Jan.
17
Jan.
23
Jan.
13
6 to Jan.
9 to Meli.
9
14
*
Insurance.
I
5
American
Continental
Peter Cooper
3*9
Williamsburg City (Brooklyn;....
Hank.
Pacific (quar.*
Miscellaneous.
Consolidation Coal of Maryland..
Daly Mining
Houestake Mining (monthly)
....
Ontario Silver Mining (monthly)
Pennsylvania Coal (quar.)
.
Pullman’s Palace Car (quar.)
United States Express (quar.) —
6
10
19
1 Jan. 21 to Jan.
Feb.
$1 50 Jan.
50e.
20c.
50c.
4
2
1*4
31 Jan.
31
15 Jan.
31 Jan.
1 Jan.
15 Feb.
15 Feb.
Jan.
Jan.
Jan.
Feb.
Feb.
Feb.
2 2 to Jan
21 to
26 to
24 to Feb.
2 to Feb.
4 to Feb.
31
31
—
1
15
15
P. M.
Business at the Stock
Exchange has been dull except in
bonds, though the transactions yesterday and to-day have
its effect
animation
on
the decline in Missouri Pacific and
the rest of the market.
The
conspicuous weak¬
closely held as this is occasions much com •
ment in the market, and, whatever the facts may be, the con¬
clusion is sure to be drawn that the stock goes down in
ness
in
a
on
stock
so
Prime bankers’
it.
broker
If
the
what
question
sto(£
was
asked
of all those
of
on
any
experienced
the list
would
be most
Demand.
Sixty Days.
sterling bills on London..
Prime commercial
Documentarv commercial
Paris (francs)
4 87k)
4 85
4 83*4*4 83*2
4 82% ^4 83
5 21
11j 5
114 5 19%a>5 18%
40*% '?40'7jf$
95*s ® 95*4
95*2^95%
Amsterdam (guilders)
Frankfort or Bremen (reichmarks)
2
403[5® 40*4
Coins.—The following are quotations in gold for various coins:
97*9
$4 83 ®$4 88 ;Fine silver bars.. — 90 %®
Sovereigns
Napoleons
3 84
X XReichmarks..
X Guilders
4 74
3 96
Span’ll Doubloous.15 60
Mex. Doubloons.. 15 55
Fine gold bars....
par
*
Now
3
4
4
®15
"©15
®
@
@
®
89
80
OO
75
65
Five francs
—93
'a)
Mexican dollars.. — 75% a>
Do uncooiuierc’l — 75
'a>
Peruvian sols
— 74
English silver
*4prem.;U.
...
4 80
§. trade dollars*—
3>
75
95
—
76%
—
75
4 85
—
-
•
•
•
demonetized.
United States Bonds.—Government bonds have been sim¬
ply dull and firm, and there is nothing of special moment to
report in regard to them. The 4s have advanced a trifle,
though the 4£s are about unchanged.
The closing prices at the N. Y. Board have been as follows:
Interest Jan.
14.
Perlo<t8
accordance with the wishes of those wTho have the control
of
t
January 20.
The Money Market and Financial Situation.—The w*eek
has been almost devoid of striking events.
more
effect.
The rates of leading bankers are as follows:
WALL STREET. FRIDAY, Jan. 20, 1SS8-5
shown
no
To-day the rates on actual business were as follows, viz.:
Bankers’ 60 days’ sterling, 4 84f@4 85; demand, 4 86£@4 87.
Cables, 4 8?£(9)4 87-^. Commercial bills were 4 82f@4 83£;
Continental bills were: Francs, 5 21£ and 5 19£; reichmarks,
95|@95£ and 95£; guilders, 40£@40£ and 40£@40|.
The following were the rates of domestic exchange on New
York at the under mentioned cities to-day: Savannah, buying
par; selling
premium; Charleston, buying par; selling
4 premium; New Orleans, commercial, 25c. premium; bank,
par; St. Louis, 90c.premium; Chicago, 25c. premium.
€
2
[VOL XLVI.
4*28,1891
4*28,1891.2
Jan.
16.
Jan.
17.
Jan.
18.
Jan.
19..
Jan.
20.
*108
*108
Q.-Mar. *108
;*103 *108 *108
*108
*108
*108
*108
108*9
Q.-Mar. *108
reg. Q.-Jan. *1 .'6*4 126% 126% *126% 126*2 *12638
reg
coup.
4s, 1907
4s, 1907
coup. Q.-Jan. *126*4 126% *126% 126*2 126*2 *12698
6s, cur’cy,’95
reg. J. & J *120*2 *120*2 *120*2 *120*2 '120*2 *120*9
68, cur’cy, ’96—reg. J. & J. *122*2'1*122*2 *122*2 *122*2 *122*2 *122*9
dangerous for outsiders to sell heavily short, he
reg. J. & J. *124*2 *124*2 *124*2 “124*2 *124*2 *124*9
probably name Missouri Pacific as pre-eminently 6s, cur’cy,’97
6s, cur’cy, ’98—reg. J. & J *126*2 *126*2 *126*h!*L20*2 *126*2 *126*9
that stock.
This being the case, it follows that any sud¬ 6s, cur’cy,’99
reg. J. & J *128*2'1*128 *2 *128*2 *128*2 ,*128*2
den rise or fall in this stock, or in any other similarly held,
has far less significance in its bearing on the general market
State and Railroad Bonds.—A fair amount of business has
than a movement in any of the leading stocks that are known been done in State bonds,
though no class has shown any
to be widely distributed.
special activity, the business havirg been divided up between
The demand for bonds has kept up well, and in addition to a number of different bonds, none
of which call for special
the sales at the Board there has been much activity in the comment.
The demand for railroad bonds of all classes continues good,
negotiation of loans by bankers, and also in miscellaneous
securities not on the Board list. All this seems to be a straight
though it has not been so brisk as last week, and a little less
investment business, and so far it has been the best feature of business has been done.
The tone has generally been pretty
the new year.
firm, however, and many of the leading bonds dealt in have
The railroad earnings in January and February will be much made further advances in
price. The advances have not been
influenced, as usual, by the character of the weather, and at quite so well maintained nor so general, however, of late,
the West the blizzards have been anything but encour¬ there
having been some reactions at times, though of small
aging. Allowance must be made for any impediments of this proportions. The most conspicuous improvement has been in
sort beyond the ordinary difficulties of an average winter, as it some of the
lower-priced bonds, and a number of these have
is to be remembered that the check is but temporary, and the been
quite buoyant. Among the investment classes the St.
traffic held back for a while comes on in subsequent months. Paul bonds of different divisions were
conspicuous in the
The open market rates for call loans during tne week on
early part of the week for activity and strength. The M. K.
stock and bond collaterals have ranged from 3 to 4£ per cent, & T. bonds have been
weak, in sympathy with the decline in
and to-day the 'rates were 3@4 per cent.
Prime commercial the Gould stocks.
paper is quoted at 5|@0 per cent.
Railroad and Miscellaneous Stocks.—The
market
stock
The Bank of England weekly statement on Thursday showed
until Thursday continued dull and lifeless, and speculation
a gain in specie of £266,000, and the percentage of reserve to
was of an entirely unimportant
character. Naturally in such
liabilities was 42’35, against 40*16 last week; the discount
a market the fluctuations were very limited and the changes not
rate was reduced from 3£ to 3 per cent. The Bank of France
general at any time, but each leading stock fluctuated according
gained 625,000 francs in gold and 3,25Q,000 francs in silver.
to its special influence. Prices were pretty firmly held in the early
The New York Clearing House banks in their-statement of
part of the week, but later there was some depression on the
January 14 showed an increase in surplus reserve of $4,964,550, efforts of the bear speculators
to make lower prices, which result¬
the total surplus being $15,791,275, against $10,826,725 the
ed in a general decline on Thursday, when the market became
previous -week.
more active.
The Reading strike has been little discussed, at
The following table shows the changes from the previous
least as regards its bearing on stocks, and it has had no
week and a comparison with the two preceding years in the
increasing influence, except perhaps in so far as it deters
averages of the New York Clearing House banks:
buying. Reading was tolerably firm but declined with the
rest of the market on Thursday, on reports that a prominent
l
1888.
1887.
1886.
Diffr'nc's fr’m
Jan. 14.
pool had been liquidating. Lackawanna has been firm and
Prev. Week.
Jan. 15.
Jan. 16.
Jersey Central well held. The weakest stock among the lead¬
$
$
$
I
$
ers has been Missouri Pacific, which twice led the market ou a
Dec
and
Loans
disc’ts. 356.173,900
3,899,600 348.067.700 339,345 900
would
Bpeele
Circulation
Net deposits
Legal tenders
Legal reserve
Reserve held
Surplus
7 , .04 1,<>00 Inc. 1,808,OuO 88,068.000 97,072,200
7,901.5UO Dec. 188,400
7,872,200!
‘'.804,000
373,232.500 Inc. 1,926.600 374,187.600 389,902,600
32,055.400 Inc .3,637,600 24,070,700 33,419,400
93,308.125 Inc. 481,650
109,099,400 Inc .5,446,200
15,791,275 Inc .4,964,550,
93,549,900!
97.475.650
lease having also been favorable.
112,158,700j 130,491,600 gation
have attracted some
18,611,800! 33,015,950
Exchange.—Sterling exchange has been dull, the demand
not having been brisk at any time.
Rates have been firmly
held, however, as nothing has occurred to depress them. There
was a slight pressure from
security bills at one time, but it
exerted no influence on rates, the firmness of which has been
assisted by the scarcity of commercial bills.
Some drawers
have been asking ^c. more than the figures quoted by us a
week ago, and to-day all drawers advanced their rates a like
n 5
downward turn and the other Gould stocks were also weak.
Union Pacific has been strong at times, on President Cleve¬
land’s recommendations in regard to the Pacific railroads; the
statements in regard to a final agreement on the Oregon Navi¬
The Oregon stocks
attention, owing to their strong tone.
Oregon Improvement started the advance on the offering of
preferred stock to the stockholders and the rumors of a
the
probable dividend, and Navigation and the Northern Pacifies
favorably affected by the prospects of the Oregon Navi¬
gation lease.
The weakness of Missouri Pacific on large sales has been the
single feature of importance in the past two days, and the
comparatively small influence it had in dragging down other
were
prices
wTas
rather
an
evidence of strength in the general market.
CHRONICLE
I HE
1888.]
January 21,
95
STOCKS—PRICES AT N.Y. STOCK EXCHANGE FOR WEEK ENDING JAX. 20, AND SINCE JAN. 1, 1888.
STOCKS.
Saturday,
0
Jau. 14.
Monday,
Tuesday,
Jan. 16.
Jan. 17.
Sales
LOWEST PRICES.
HIGHEST AND
j Wednesday,; Thursday,
j
Jan. 18.
j
Jan. 19.
Friday,
Week,
Jan. 20.
Shares.
Range Since Jan. 1,1888.
r
:
Lowest.
Highest.
1
1
•
Active It Ft. Stocks.
10%
Atlantic A Pacitic
Canadian Pacitic
Canada Southern
Central of New Jersey
Central Pacitic
10%
lstprcf.
2d pref..
Chicago Burlington & Quincy.
Chicago Milwaukee A St. Paul.I
Do
pref.'
Chicago A Northwestern
Do
pref.'
Chicago Roci: Island & Pacitic.1
Chicago St. Louis & Pittsburg, i
54%
54 %
54%
78%
78%
78 %
78%
33
33
*395s
*14
38
15
40
40
40%
129
pref.
East Tennessee Ya. A Ga. R’y.
1st pref.
Do
Do
2d pref..
54
Do
10%
1)0
4258
23
4250
117% 117%
15
Kingston A Pembroke
28
28
Lake Erie A Western
Do
pref.
Lake Shore A Mich. Southern.
45%
931*2
*90
0178
Louisville A Nashville
Louis. New Alb. A Chicago...
Manhattan Elevated, consol..
*14
*37
38
4038
453s
935g
91%
023s
*•>03,
23
103
103%
16%
*17%
*15
18
88-
17%
18
88%
*78%
108
108
108
17%
09%
2838
*64
38
9%
84%
81
103
8
17
18
88%
12
79%
108
70
30
34%
28%
2850
65%
38%
38%
*17%
*9 ’
9%
31%
*16%
4434
pref.
22%
47%
23%
47
285s
38%
18%
9%
31%
16 34
45%
47%
23 G)
21%
*21%
65 %
23%
56%
22%
Peoria Decatur A Evansville.
66%
23%
22%
22%
66%
23%
56%
23
57
Do
pref.; *55
85
85
Rome Watertown AOgdensb’g
36
36
36
36%
St. Louis A San Francisco
72
7134 71%
Do
pref. *71
Do
lstprcf. 115 115% 115% 116
*61% 62
St. Paul A Duluth
*102
103
103
Do
pref. 103
111
St. Paul Minneap. A Manitoba. *110
Texas A Pacitic, ass. pd
24%
j
247h 25% 25% 25%
57% 58%
Union Pacific
1
57%
r''7:k* 57%
15% 15%
Wabash St. L. A Pacitic
15% 15%
28%
Do
28% *28
pref. *28
Richmond A West P’t Terminal
—
Miscellaneous Stocks.
Colorado Coal A Iron.
Consolidated Gas Co
Delaware A Hudson Canal....
52%
52%
36%
75%
36%
75 %
10(5
Pacitic Mail
37%
Philadelphia Co., Nat. Gas
i'ti
Western Union Telegraph
5234
%
78%
49%
91 %
37%
i'll %
lii”
*439%
78%
78%
*140
145
108
*67 % 70
*126
131
Cincinnati Wash. A Baltimore.
3%
6%
pref.
72%
139
94
*75
10734
443%
II334 11234
144
145
113
*14
'
39
108
*51
23
3950
*9
23
47
23 5y
52
10%
HO
00%
'00
23
22*o
10%
01%
2234
40%
I
42%:
......
13
38
37 %
37%
16%
12%
*37%
*36
16%
1
28%
29%
isted.
32%
88%
93%
*37
92
"
......
*36
88
40
93
28%
37%
38
37%
18
18%
9%
32%
36%
17%
10%
17
44%
45%
23
22
*21%
05
22%
50
*85
72
114
110
82%
62%
24%
57
58%
70
22%
3630
72%
62%
104
109
30
36%
76% 78
10634 107%
jz
j
*70%
;
137
94%;
85
139
156
95
95
3.38% 139%
102% 10234
%!
17”
85%
35%
77%
106% 107%
36 %
100
100
141
141%
77%
38
*36
16%
145
140
107% 108%
72% 73%
128
6%
157
95
84
138
29%
prices bid and asked; no sale was made at the Board.
157
95
'7
138
39
16%
36
15%
-
7
......
28%
29 io
32%
88%
17
36
15
10
....
28
30
34
90
10
61
6
53% Jan. 19
2,755
1,637
75
160
4
Jan.
18
1,697
7
Jan.
4
5
10
6
129
Jan.
....
j
-
1,870|
15%
27%
51
*140
108
72
129
145
108
74
129
437
116
650|
700
1,600
Jan. 12
Jan.
94
*3%
4%
(»%
6%
156% 156%
99
572 110
43,318 77
67
76 128
’350,
i’010;
70
135
93%
3%
6
729 153
700j 93%
84
84
100,
8334
355 135
214 102%
805! 21
17%
171
7%
152
10
38
*36
10
38
39
‘
8*’
8"
89%
89%
28
Jan.
Jan.
Jan.
Jan.
Jan.
15 143
Jan.
285 10634 Jan.
1,587
210!
15
130 151
3,100;
1,200
400;
920
300
600,
Jan. 10
3
Jan.
9
Jan.
9
Jan.
Jan. 10
7
Jan.
9% Jan. 18
6
Jan. 20
3
129% Jan.
77% Jail. 10
6
4
4 115% Jan. 16
4 109% Jau. 10
6 144
Jan. 16
6 11334 Jan.
14% Jan.
38 34 Jail.
20 40314 Jail.
4 108% Jan.
7 53
Jail.
4
6
1
25% Jau.
10
33 %
36
13%
S
88%
1,000, 26%
2,920: 27%
l§!
i9j
Jan. 20
Jan.
5,925! 8934 Jan.
1,340! 35% Jail.
515
10%
62%
56%
79%
33%
4 %
5 131% Jan.
4
23
Jan.
20 54 % Jan.
3
10% Jan.
62% Jan.
23
Jan.
20 8 8 34 Jan.
20! 46% Jan.
4
9% Jan.
6 118% Jan.
12 14
Jan.
1(1 28
Jan.
6
15% Jan.
20; 17
Jan.
19, 9534 Jan.
9 91
Jan.
20 64% Jan.
10 39
Jan.
20 96
Jan.
9 53% Jan.
20 87% Jan.
5
80
Jan.
20 104% Jan.
3
9% Jan.
5
17% Jan.
19, 18% Jan.
20 8934 Jan.
Jan.
61 12
5! 80
Jan.
4 108
Jan.
4
17% Jan.
4 70% Jan.
4
36
Jan.
20 29% Jan.
20 65% Jan.
20 39% Jan.
4
18% Jau.
4
9% Jan.
5 32% Jan.
Jan.
20 17
4
45% Jan.
20 23
Jan.
20 47% Jan.
51 24% Jan.
22% Jan.
23
Jan.
20! 66 34 Jan.
4| 23% Jan.
Jan.
6 57
9 85% Jan.
6 36% Jan.
20 72% Jan.
Jan.
111116
20j 62% Jan.
3 104% Jan.
18 111% Jan.
20! 26% Jail.
20 58% Jan.
4
16
Jan.
15% Jan.
27% Jan. 20 28 34 Jan.
3 54% Jan.
41% Jan.
1,375 34%
3,829 j 75
8,156 103
4,470 45%
100
*90%
3
30% Jan. 19
Jan.
Jan.
108%! 19,315 106% Jan.
145
88 140% Jan.
11234
2,002 111% Jail.
13
Jail.
15
Jan.
100 38
39
39%
3,050 38% Jan.
275 105% Jan.
107%'
100 52% Jan.
52%;
400 23
Jan.
23%
129% 43,750 128% Jan.
22
22% Jan.
275 03
Jan.
52
10%
300; 10 Jan.
574 60% Jan.
61
22
5401 21 ^ Jan.
100 87
Jan.
87
40%
2,400 40% Jan.
1001
8% Jan.
8%
118
1,279 116% Jan.
14
10; 13% Jan.
300 27% Jan.
200 15
Jan.
15%
Jan.
44%
1,523 44
92%
7,608 92% Jan.
Jan.
90
1,216 89
60% 19,480 60% Jan.
Jan.
39
40
92
3,872 88 Jan.
Jan.
52
985 82% Jan.
82%
Jan.
79
79%
200 100
Jan.
101
300
5% Jan.
8%
Jan.
300 16
16
4,120 163.1 Jan.
17|
84% 54,821 82% Jan.
200
12
9% Jan.
Jan.
300 76
107%
2,873 107 Jan.
17%
225; 16% Jan.
95 66% Jan.
69
60 31% Jan.
34%
27% 13,055 27% Jan.
Jan.
150 61
61
37
14,295 36% Jan.
17%
2,168 16 34 Jan.
425
8% Jan.
8%
31%
1,430 29% Jan.
625 15% Jan.
15%
44% 15,674 42% Jan.
22%
1,290 21% Jan.
46% 10,364 45% Jan.
Jan.
300 23
22% 39,508 20% Jan.
2,050 19 Jan.
19%
64% 206,555 63% Jan.
22% 18,805 22% Jan.
Jan.
830 55
55%
Jan.
124 84
85%
700 35% Jan.
70 34 Jan.
70%
380,113% Jan.
114%
Jam
145 60
60
104
385400% Jan.
100:109
Jan.
110
2434
7,650; 24% Jan.
Jan.
56 34 78,575! 56
34% 35%
70% 76%
106% 106 34
54% 54%
93
94%
36
36%
99% 99%
14034 140 34
77
77%
*27
Jan.
4,650
15%
27%
4934
"
Jan. 17
77%
31%
....
"
795
100
53%
i'Z
140
*90% 94
4
*334
38%
8
%
78
46
34%
8834
33%
93%
35%
76%
152% 152
11% 12
3734 38
33%
86%
34%
89
52%
17"
152
28%
29%
33%
51%
6%
'
28 n,
94
28
*70%
89%
28 34
30%
33%
28
437
89
30
56
139
89
30
24%
57%
15 a4
128
89
28%
29%
25
130
S
29%
24%
56%
*15%
60
104% 104% 104
*109
93%
36%
8
28%
62
92
145
70 34
114%
*61
94
138
I
*35% 36%
*71 % 72%
114% 115%
92
107% 107%
70
72%
%!
56
86
5o
37%
99
100%
140% 141%
78
78%
4
*85
21%
23%
00
i 130
45%
2430
55
140
21%
47
52%
37%
94
46
*23 n,
8%
31%
15%
43%
19
52%
145
9
31%
16%
43%
22%
36%
17%
17%
9%
3134
1630
44%
22%
63%
22%
55%
85%
8
29%
29%
27%
65
51%
153
153
12% 12%
38
38 %
37
37
1 (> 14
15 %
*33
63%
22%
55%
52%
22
107%
*16%
68
65%
23%
28
140% 141%
77% 78%
*75
139
12
21
28%
*37
93%
*334
6%
16%
82%
22%
10
130
*7%
16
19
25%
58%
15%
28%
100% 100%
51% 54
91 %
92
110
100
22
57%
15%
30
70%
35%
A
2134
114
104
xlOO
25
25%
*15%
28%
52%
47%
24%
22%
56
86
30%
30%
71%' 72%
110
27%
23
00
23
50
30%
28%
47%
*23%
21%
56
2830
'9
32
2350
22%
6%
156% *156
95
94'%
12%
38 :J4
39
16%
40%
8%
61
22'
*70%
152% 152%
16%
93%
......
12%
37%
4230
40
*30
23
•
Pitts. Ft. Wayne A Chic
10%
*58
22
87
•
47%
21%
21%
05%
*137
22%
38%
117% 117%' 11734 117%! 118
14
*13
14% *13
14%:
28
I *27%
28
*15
15%! *14%
15%' *15
44
44% 45
*44% 45
*93
92% 93%
92%
93%
90
90
89%
90% 90%
60%
01% 62
00% 01%
28%
04%
38%
17%
9%
31%
16%
45%
31%
*16%
443y
72
138
21
1
*21%
42%
40
14
28%
04%
37%
17%
72
*137
85
*14
*37
109
| 107%
52^
52%
23
! *00
129% 130% 129
83 ■ 83
85
83% 83%
*78
80
81
*78% 81
400
102
400
102
102
102
*T
8
8
8
*7
8 34
*15
*15
17
17
*15
17
18
18
16% 17%
17% 17%
84% 86
86% 87%
80% 87%
*11
13
13
*11
13
*11
78% 79
79% 79% *78% 79%
10750 10734 107% 107% 107% 107%
*17
1734 *17 * 17% *1634
*09 3 71
*69
71
*09% 71
35
*34
35% *34 ^ 35% *34
130
4%
|
89
107% 108
70% 70%
138% 138%
103
103%
_
15
39
10%
615
4%
698 127%
71% 75% 132,408 74
347 112%
114% 114%:
*83
109
70
131
156
95
*75
85
0150
77
31
*4
*8
6
129
54
-
10%
00%
*22%
9330
91%
62%
*36
94
107
*67
*126
*3%
6%
4%
6%
Cleveland A Pittsburg, quar..
Illinois Central, leased line...
Marquette Ilougli. A On., pref.
78%
143% 143%
108
*70
*137
94
53%
36% 36%
75% 75%
106% 106%
49% 4934
91% 92
37% 37%
106
48%
91 %
Oregon Improvement Co
Oregon Railway A Nav. Co...
12934 130%
10%
*60%
53%
128% 128%
74% 76
114% 115
108% 109
*78%
70
16%
65%
94%
70
44%
22%
47%
Philadelphia A Reading
40
17%
16%
22
90%
023g
17%
44
Oregon A Trans-Continental..
94
17%
pref.
St. Louis Alt. A Terre Haute..
St. Louis Ark. A Texas
South Carolina
Whitebreast Fuel Co
Columbus A Hocking Coal
Tennessee Coal A Iron
40
40%
108%
j 108%
*
50 % 53
j
j 231*1 23%
34
15
45
94%
pref.
pref.
5%
128%
76%
*37
01
23
29
8
New York Susq. A Western...
the
10
15
45
93
*90
84%
*78%
Do
lstprcf.
2d pref..
Do
New York Lake Erie A West’ll
Do
pref.
New York A New England....
New York Ontario A West
Quicksilver Mining Co
10
5%
ii*3% ii’3%
*22
54
*27%
12
Oregon Short Line
*8
5%
910
;>->4
130%!
15%
45%
85
81
New York Central A Hudson.
New York Chic. A St. Louis...
are
109
52
24
27%
45%
93%
89%
02%
Nashv.Chattanooga A St.Louis
These
39%
108
*51
24
14
*84
*78
*100
88
Do
39%
40%
*13
*30
Missouri Pacitic
Mobile A Ohio
Morris A Essex.
N. Y. Lack. A Western
N. Y. A Northern, pref
4
9
10%
61%
53%
77%
32%
4%
15
15
40
95
Missouri Kansas A Texas
Do
x32
1433414334
113% 113%
*13
*30
94
pref.
Chicago A Alton
Chicago A Ind. Coal R’y, pref.
1
4238 42%
*8%
9%
11734 117%
27%
Minneapolis A St. Louis
Inactive Stocks.
American Tel. A Cable Go
5
9
5%
I
|
88%
42% 42%
*9
9%
117% 117%
*15
Long Island
Express Stocks.
33
*4
9
5%
!
23
*13
Wheeling A Lake Erie
53%
78%
10%
i *60%
54%
53%
77 %
78%
30%
32%
i
4
4%
*87
Green Bay Winona A St. Paul.
Illinois Central
Ind. Bloom. A West., ass. pd..
Do
Norfolk A Western
Do
Northern Pacitic
Do
Ohio A Mississippi
i
54%
78%
*32%
130% 1305b 1295s
i*
22 34!
543a *
53%
10% *10% 10% *10%
04
01
017b 02%
130
01
Evansville A Terre Haute
Fort Worth A Denver City—
Do
15
53
25i
53
,
Delaware Lackawanna & West
Denver A Rio G., assessm’t pd.
pref.
loji.i
108%
107
*51
pref.
Cleveland Col. Cm. A Tndianap.
Columbus Hocking Yal. &Tol.
Mil. Lake Shore A West
Do
54%
77%
33
*4
5
9
9
510
*5
129
129
76% 77
ioji,
.o
*14
*3S
Do
Michigan Central
*
*32%
ii
143%' 14:0*2 144
119
IIO
1 1 O
113
113
113%
1121*2
i
142
Chicago St. Pi ul Min. A Om...
Memphis A Charleston
62
t
io%!
i *10
10
62
10
128
128
128% 128% *128
76
75% 76%
76% 76%
115
110
115
XX.,
115
xx^
, xx., * 1151*2
xx.,^
11434 116
10834 109V 108% 1093a! 1,0838 109 ! 108 34 109%
pref.!
Do
10%
62
55%
.
Chesapeake & Ohio
Do
Do
10%
Jan. 18
Jan. 18
Jail. 18
Jan. 20
Jan. 16
Jan.
51141% Jan.
4! 79% Jau.
Jan.
91144%
108% Jan.
29%
32%
89%
4
33% 52,878 29% Jan.
91%34315,000' 85% Jan. 17
5
9
9
7
19
Jan. 20
Jan.
4
12 72% Jan.
9 135% Jau.
17 94
Jan.
4% Jan.
9
9
6% Jan.
5 157
Jan.
5 96
Jan.
4
84% Jan.
3 139% Jau.
9 103% Jan.
1Oj 22% Jan.
5| 17% Jan.
Jan.
51153
51 13% Jan.
4
38% Jan.
19; 39
Jan.
9
16% Jan.
17
8
Jan.
4 89% Jau.
Jan.
5 30
4 30% Jau.
29%
10
6
10
18
9
9
9
6
10
12
16
7
10
3
10
3
20
14
9
9
9
5
9
10
10
9
9
105
11
£►
5
3
10
9
99
10
16
9
1010
9
7
9
18
16
10
10
6
18
11
11
9
9
20
5
18
16
3
19
3
10
3
3
6
10
36% Jan. IO
3 78
3 107%
5 55
5 94%
6i 37%
18 102
3
Jail. 4! 74
Jan. 19 130
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jau.
Jan.
Jan.
Jau.
Jan.
Jan.
Jail.
Jail.
18
6
4
9
9
16
19
4
7
18
6
16
20
17
12
10
11
16
17
18
9
10
34% Jan. 17
97% Jan. 10
THE CHRONICLE.
96
Railroad Bonds.
I
Lowest.
264a. 26*4 Jan.
D. inc., (33,1910; 20*4
81
80
Jan.
j
Gnar., 4s, 1937...
106 b. 105 4 Jan.
Cam South.—1st guar., 5s, 1908;L06-*s
92 4 Jan.
934
1
»4 408
2(3,58, 1913
b. 4074 Jan.
"Central of N. J.—1st, 7s, 1890..il0/^b.
1154b. 1114 Jan.
Consol. 7s, 1899
Convert. 7s, 1902
.Ho b !4184
Jan.
98 b. 1115
Convert, deb. 6s, 1908
j---- i"
98*"
Jam
I
994
General irinr:., fa, 1987
! 98'b 414
j 1134 lan.
Leh.it W.B.,con.7s, i9o9,as’nt;ilo‘*4b
(102 4 11014 lan.
Aim Dock «t Imp., 58,1921. ..il02
•Atl. & Pac.—W.
Central
Pacific—gold Gb. 1898.. ; 114
Ban Joaquin Br. Gs, 1900
Land grant Os. 1890
Morf. Gb, 1930
Cues. <t O.—Pur. m. fund Os,
|>.
;llojlib.
|103-'4
b.
65
Mil. Lk.Sb. & W\—1st, 6s. 1921.
Ashland Div.—1 at, 6s, 1925. . 116
Minn. <t St. L.—1st, 7s, 1927
934 Jam
4034 Jan.
115 **4 .Jam
: 11 S**j Jan.
Imp. it Equip.—6s, 1922
Mo. K.itTex—Con., 6s, 1920...
Consol., 5s, 1920
Consol., 7s, 1904-5-6
Mobile A Ohio—New, 6s, 1927
1st, Extension, 6s, 1927
lstpref. debentures, 7s
Mutual (Jm Tele.—8. f., 6s, 1911
Nash. Ch. it St. L—1st, 7s, 1913
N.Y. Central—Extend., 5s, 1893
N.Y.C. it II.—1st, cp., 7s, 1903
Debenture, 5s, 1901
N.Y.it liar—1st, 7s, 1900
N. Y. Chic. itSt.L—1st, 4s, 1937..
N.Y. Elevated—1st. 7s, 1906....
N. Y. Lack, it W.—1st, 6s, 1921.
Construction, 5s, 1923
N. Y. it Nor.-1st, 5s, 1927
26*8 Jan.
82 Jan.
jlo7 Jam
i
i
994 Jam
Jam
lit
Jan.
Jan.
Jam
Jan.
Jan.
674 Jan.
;
:
Debenture 5b, 1913
!l044t>. 1 94
; 95
Denver Divis., 4b, 1922
1144
Cliic. A E: st. Ill - Cuu. Gb, 1934 lit b.
• 98
Clue. <t lnd. Coal R., lav, 5e, ’36, 97
1164b
Cb.M 11. it bt. P— 1 «t, I. & M.7 8, ’97 j il 0
Consol. 78, 1905
! 1244 1120*4
:
113
97
114 4
123 4
Jcii.
I 95
Jan.
Jam
!
Sinking fund Os, 1929
Sinking fund 5s, 1929
4114 Jan.
Jam
4 094a. 408 ‘Tam ’ 110 "jam
109 **4 lo84b.
1084 Jam 10S>4 Jam
Binkingfund debent. 5s, 1933 107 b.
1054 Jan. 105 4 Jan.
j 105*4
26-year debent. 5a, 1909
!
91 **4 I 944 Jam ] 95
Jan
Extension 4-, 1926
9 U*4 !432
4 32
Jam
: 1,314 Jan.
Cbi.K. 1. it Pac.—Gs, coup. 1917.; 131 4b.
107 4b. 107
10/4 Jam
Jan.
Exten. <fe col. 5m, 1934
10/ *4 42o
:1194 Jan ; 1 204 Jan.
Ch. Ht.P..M.«t O.—Consol. 6e. ’30 119 b.
1004a. 100
Jan. 1004 Jam
Oh.St.L.APitts.—lBt.con.58,’32 100 b. 4244b.
Jam
123
Jam i J 23
C. C. C. & lnd.—Consol. 7s, 1914;
106
b. 1074 Jam
1074 Jam
Gen. Ge, 1934
H07*4b. 4024
Jam D 2 4 Jan
100
Coi. Coal & Iron—1st, Gh, 1900.. 102
71 4
| 704 Jail. | 72 4 Jail.
Col. H. Val. it Tol.—Con. 5s, ’31 j 72
Gen.
! 78
1st con. 4h, 193G
Den. 80. Pk. & Pae.—1st,
b.
1911. j 73
Den. & R.Gr. W.- l8t, Ga,
! 71
66r,rt Tan.
784 Jan.
a.
804a.
7s, ’05
i
344 Jan. i 43
i 97 4
! 9534 Jam i 98 4
!
4oi7«b. 97 Jan !lOJ
1354 Jan. 136
134 b. 412
Ill
Jam Ill2
Long Dock, 78, 1893
4 11 In 116-^a, 11634
Jail. 1 L634
Con. Gs, 1935
U7 a. 99
I 9/4 Jam
694
N.Y.L.E.&W—2d eon. Gs, 1969! 99 4
80 34
32
79
Jan.
Ft. W. & Denv. C. -1st, Gs, 1921! 81
100
b
'Gal.Har.it San. Ant.—1st, 6s,’10 1054b. 105 a. Iu53.i Jan.
104
1054
104
Jan.
2dM.,7s, 1905
104
92 4
92
a
91
Jam
"West. Division—1st, 5s, 1931.!
Det.Mac.it M.—Ld.gr.34s.1911!
E.Ten.V.A G. Ky.—Cun.,5s, ’56
Eliz. Lex. & B. bandy—6s, 1902.
Erie- 1st. consol, gold, 7s, 1920
39*4
977g
101
39 4
j
2d, 6s, 1931
!
•Gr’n B.W.ASt.P.—2(1 inc.Ss, 1911! 32
Gulf Col.it San.Fe—1st,7s, 1909 1214
Gold, Ga, 1923
J 96 **4
.
30 3*
1
Jam
30
♦
am
HI.
Jam
Jin.
Jam
Jan.
.Jan.
Jam
Jm„
Jan.
.1 ni.
Jam
Jam
32 4 Jam
!
[ *>•>
Coupon, Gs, 1909
75
1 75 b.
Jan.
J am
75
69'
1 71**4 I 75
Kent. Ccntr.—(iolil 4s, 1987
Knoxv. «tO.—1st, Gs, gold, 1925 91
b. 92 b. 894 J am
1014 J; n.
L. Erie it W.—1st g„ 5s. 1937 ..-1024b. 10 *4
126
b. 12;>*4 Jam
LakeBb.—Cun.coup., 1st, 7s, 1900 12G
Con. coup., 2d, 7s. 1903
1234b. 12341). 122 4 Jan.
.
| 5
1214b. 1204 J
St Jo. <t Gd. Isl.—1st,
6s, 1925
2d, income, 5s, 1925
St. L. All.it T.II.—1st,
2d, M., pref., 7s,
7s, 1894.
1894
1906 105
1906 110
107
100
10'J
6s, 10-20
1900
Arkansas—6s, funded..1899-1900
7s, Little Rock it Fort Smith, iss.
7s, Memphis A Little Rock, iss..
7s, Arkansas Cuiitml RR
Georgia,—7s, gold
Louisiana—7s^
Stamped, 4s
Michigan—7s
cons
1890
1034
13
20
20
18
104*o
1914
100
92
1890
10G
!
:
......
Jan.
Jau.
Jan.
13
L07
Jan.
Jam
j
.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jail.
Jan.
jam
107
Jan.
103
Jan.
I 04 Jau.
41
Jan.
413
Jan.
Jam
Jam
41
1). 113
>.
Jam
Jam
Jan.
.
i112
1054 Jan.
i 924 Jan.
114*6
Jan. 415**6
Jam 114^8
Jau. 1134
Jan. 101
Jan.
Jam
Jau.
Jan.
Jam
Jau.
,
So.
Carolina—1st, Gs, 1G20
2d, Gs, 1931
Inc., Gs. 1931
34
b.
72
a.
72 4 J
17
1) :
1240.
Cal.—1st, Gs, 1905-12..
So. Pac., Ari.—1st, Gs, 1909-10..
So. Pac., N. M.—1st, Gs, 1911. ..
So. Pac.,
Ian
Jail.
J am
to
.
364a.' 35
! 98 b.j 97
.
09
jam
15
Jam
1 L t 3t J am
1L2~6
il2*hl».
t
Div.—Gs, 1899
Chicago Divison—5s, 1910
Wabash—Mortgage, 7s, 1909..
2d, extended, 7s. 1893..
b.
a.
113
J an.
48Jan.
68*4 Jan.
Jam
03*4 Jan.
Jan.
b.j
b.j 914 Jam
93**4 Jan.
60
..
b. L144''.4l4
b.|..
b. 103
1184
118
118*4
112
109
b. no
b.
113 b. 114
104
! R» 1**4
4 05
lo3 a. 100*4
ll03
78 4a
78
78
51 a. 47
| 45
96
Jan.
Jan.
114
Jan.
Jau.
Jan.
119
112
Jar.
Ill
Jan.
Jan.
Jam
Jan.
Jan.
Jam
Jam
Jam
Jan
105
103
Jan.
Jan.
Iu3
89
1
9 i
b !
89
954
93 '
84
b.
10"*tl>. 107**4
108
4074
i 90 a 88
1
hi
107
83
b
b. 107
j 89 b.
West Shore—Guar., 4s..
Jan.
724 Jau.
18**4 Jan.
Jam
114
Denver
97
474 Jam
6*4 J all.
(0
Jam
(85
grant, 7s, 1887-9
Sinking fund, 8s. 1893
Kan. Pacilie—1st, Gs, 1895
1st, Gs, 1896
Jau.
Jam
■
48
I
48
b.
0/4
6 g 'b
>9
l).
58
b.
73
92 4
b.l
10L **»b. 101
•
Land
91
36
......
95
92
New bonds, J. it J
Chatham RR
Ill
10134 Jam
9s
Jam
s-.*4b.;..
Gs, loan
North Carolina—6s, old
Jau.
Jan.
Jan.
Jan.
Jan.
■
!
94
93
Funding
York—Gs, loan
Gs
b.
106
72
58
10>
100
91*4
93
11 >6
7740.
Consolidated 4s
Jan.
Jan.
93
Jau. 110
.lan. ; 97 4
Jan. ; 95**6
109
Jail.
106
Jam
75
Ja t.
Jam
59*4
112
Jan.
Jan. luO
Jam
Jail.
New
.Tam
109
Jam
Special tax, Class 1
93
75
34
76
i
!1(
0
*1074 Jan.
407 4 Jan.
79*4 Jan.
47
97
90
1084 Jan.
10 84 Jan.
Jau.
88
83
Jan.
90
Jau.
874 Jam
as
Jan.
b.l
i
1 997sJam
10oJ4
Jan.
Jan.
Jan.
90
Jan.
100*4 Jau.
and tue range a ’e from actual sales.
BONDS.
| Bid. [ Ask.
due 1889 or 1890
University, due 1892
1894-1895
Funding act,
Jan.
Jam li»0*2 Jan.
Jam 412
Jan.
Jam 5118 4 Jan.
117*4 !i-------■ ; 117
2d, Gs, 1909
417*4
11(5
lstcons.,68, 1933
11.>*4 1144 j Ml. 1154 Jan.
110 a.
a. 1].)*4
96**4 Jan.
96*21).; U6*^ .Ian.
reduced to 44s .; 96**4
Do
9G:!4
904b
SECURITIES.
|i i
112
111 a. 1«9
4 Jam
1034 J:.n.
j jMissouri—Gs
| Asylum or
a.! 40
45
113
_
STATE
Alabama—Class A 3 to 5
Class B, 5s
102
,
Note-The letter “ b” indicates price bid, and “ a” price asked; all other prices
Ask.
99
2d mort., 7s, 1897
IIO'V-*.1 -v
Cairo it Full on-1st, 7s, 189140536b. 10o*4y. 105
Gen. Ry. *fe land gr., 5s, 1931.1 90
6. 89 ». 90
St. L. it San Fr.- Gs., 01. A.190G 1114b. 1 ly4b. 113*4
Gs, Class B, 1906
1144m llo "• 115**6
Il44b'i i 15 li.Ju
Gs, Class C, 190G
11240. 113*41). 1124
Gen’l mort., 6s, 1931
LO0I4O. 10040. i,> *4
Geu’l mort., os, 1931
So. Pac., Mo.—1st, Gs, 1888... 100*j
lu04m 100
112
St. Paul M. <t M.—1st, 7s, 1909.: L H 4b. 1
'
| Bid.
Jan.
lO^Ub. 1044b. 103 Jam 103 Jan.
j 38 a. 38 a.
I 98
Jau. 102**4 Jan.
St. L. Ark. <fcTex.-lst,Gs,193G l0234 jl023g
2d, Gs, 193G
! 4734 (45 4 i -i()**4Jan. | 4-s4Jan.
109 4 J t n. j 1114 J an.
St. L. it Ir. Mt.—1st, 7s, 1892... 1114 '4UA4
109
Jan.
1
SECURITIES.
4b J LOO
.
2d., M., inc., 7s, L894
Dividend bds, Gs, 1894
Long Island—1st, 7s, 1898
120 b.
Jan.
1st, consol., 5s, 1931
j] 104b. 111 b. ilL Jam 1114
Jam
Jan. 121
Lou. it Nash.—Consol., 7s, 1898 120 b. 120 b. 120
1(1934 Jan.
N. O. & Mobile—1st, Gs, 1930. i 1043il>. 109 ^b. 1( **8 Jail.
96 4 Jan.
2d, 68,1930
i 9G4b. j 97 b. 96 4 Jan.
E. H. it N.—1st. Gs, 1919
443 b, 114 b.
112*4:1. 10b 34 Jau. 112 4 Jam
General, Gs, 1930
4 12
Trust Bonds, Gs, 1922
.4094 j 109 b. 108 .(am 119 Jail.
10-40, Gs, 1924
402 4b. 1034b. 1094 Jam 1 O' 4 .Tan.
Lou. N. A. it Ch.-lst, 6b, 1910. 112*4 4 11 a. 11 l7s Jam L12-h Jam
Consol., gold, 6s, 1916
! 92 4 i 9<>4 Jam i 924 Jau.
91
102
Jam
"102
b. 100
Jam
Mem. & Cli’lston—6s, gold, 1924 1< 2
413
b. 1114 Jam 116*4 Jan.
Metro. Elevated.—1st, 6s, 1908.1115
2d, 6s. 1899
4054b, 105 34 105*4 Jan. ICO-*! Jail.
Midi. Central—1st, con., 7s, ’02 1274b ! 1284b. 127- Jam 123 4 J.m.
Con so*. 5s, 1902
110 a 1054b. 110 Jan 1104 Jam
Wiss’riPac.—1st, cons., 6s, 1920 113 b 112
jll2 Jam 113 4 Jan.
1174 11 174 Jau. 111734 Jam
3d, 7s, 1906
i
Pac. of Mo.—1st, 6s, 1888
:1024b 403 b. 102Jail. 103 4 Jan.
2d mort., 7s, 1891
! 104 b ,46434 104 Jam 40134 Jam
am
Jan.
H 91*4 Jam
i 98
j 75 a.
Jam
.127
42 i
121
105
4 dan.
314 J til.
410
9 1
.
a.
b.
b.
i
75
96
Jail.
/
75
:
Jan.
Jan.
Jan.
Jan.
1084 .Tan.
1074b.408 b 10776 Jan.
;lo236 Jam
jlo5
4034
75. a.
tr. rec! 58 b.' 59 a.
Richm. & Dan.—Cons., 6s, 1915411
}111 b.
Debenture, Gs, 1927
'100 b. l'-O b.
Roeh. it Pitts.—1st. Gs, 1921... 4 L7 b. 117, b.
Consol., 6s, 1922
U234b. 114*>4K
RumoW. it Ogd.—1st, 7s, 1891.4< 8 b.jiOS b.
Consol., extend., 5s, 1922
103
1024b.
99
;
'
Jan.
Jan.
Jan.
Jan.
1115
2d more, 5s, 1927
Rich it All.—1st, 7s, 1920,
Jan.
419
Jam 4 22
! 97*4 i 964-Ji n i 97*4 Jam
.J am
Henderson Br.Co.—1st. 6a, 1931,109 b. It 9 *41>. 1084 Jam 110-4
:
H. <t Tex. ('.—1st M. L. 7s
114 4b. ! 1114b 114*4 Jam 115 4 Jan.
113*8 Jam 114-4 Jan,
ill3 4b. 414
1st, West. I >., 7s, 1891
1st, Waco A N. 7s, 1903
:112 4b. 114 b. 11234 Jam 112 34 J am
b. 107
Jam 1084 J.m.
2d, consol. M. L. 8s, 1912
107 4a. 407
'
67
Jam
66 b.
65
Jam
Gen. mort. 6s, 1921, tr. ive...! 654b.
Ind.BL. <tW—1st,pier., 7s,19004 10 b. 1104b.
Jam ! 89 4 Jam
b. 6 5
l8t, 5-6s, 1909, tr. rec
1 85 b. ; M»
71 4b.
7l4J am ; 714 Jam
2d, 5-6s, 1909, tr. rec
1 71.4
Jam
s7
Jam ! 87
East. Div.—6s, 1921, lr. rec..! 82 b. j 86 b.
Income, 6s, 1921, tr. ice
1 20 a.
1114 Jan.
Jam
Int. it Gt.Nur.—1st, Gs,gold,’19,110*8 4 Vl 4“ iu9
!
Jan.
73*4
63*4
10(5*2
110*4
Jam
Jan.
Jam
j
Ore" R.&Nav.Co.—let, Gs, 1909 109
Consol., 5s, 1925
j 9o4 i 97 4
Oregon it Transcon.—6s, 1922.J 94 b.; 9o4
Peo. Dec. it Evans.—1st, Gs. ’20. 1<*7 b
Evansv. Div— 1st, Gs, 1920... 106 a. 106 a.
Jan.
684 Jam
784.1am
,
67
J
J
55
Jan.
105 34
LOG
108 b.
4084 Jim.
i05
b. 10534 b
;05*2 Jan. 105 4
45
j 44 b. ! 4 5 Jam ! 464
86
814 Jam i 86*4
j 86
1284b. 1274b. 12834 J in. 130
L05 b 10 3
b. i 104*4 Jam 1105
133 b. j 134
43234 Jam 131
L09 b. 4 093s
109
Ja.m 1094
129 b. 132 b. : 12s4 Jan. 1130
87*4 | 88
| 86*4 Jam ! 88*4
4 ! 4*6 Jam 1174
11134
Jam 427
1255gb. 1264b. 127
Omaha it St. L.-1st, 4s, 1937..
Oregon Impr. Co.—1st, Gs, 1910
Jan.
5
Jan.
11934 419 4 Jam 420
77 7b
76 4 Jan. i 78
a.
/ 4
72
Jam ! 7')
gold. Gs, 1904
...J 74
RioGr.—1st,7s, 1900 119:\jb.
Denver <fc
-
GO
a.:
..
1
73
G3
2d, consol., 7s, 1911
Springfield Div.—7s, 1905 .... L0S4b. 110
402
Ohio Southern—1st, Gs, 1921.
i 33
33
2d,inc., Gs, 1921
75
b.
120
---•
j G94
71
1
Jan.
93
105
53
69
60
105
b.
Jan.
109
Jail. 113
1914.. 110 b.4 13
Jan. ! 924 Jan.
N.Y.Sus.&W.—1st ref., 5s, 1937.! 0^4 j 914b. ! 91
4 114 Jan.
1114 Jan.
Midland of N. J.—1st, 6s. 1910411 :hb. 1114
N. O. Pacific—1st, 6s, 1920
j 764 | 764m 754 Jan. ! 774 Jan.
1134 Jan.
Norfolk it West. - Gem, 6s, 1931; i 134b. 11 <4»>. 1124 Jam
1154 Jam 116 *4 Jan.
NJ/it-Hi P:i/>IHa—1st. /./inn
(is. '51
North.Pacific—1st,coup.,6s,
’21 116 4 4 16
402
Jam 4054 Jau.
105*4
105'
Gen’l, 2d, coup., 1933
Spokane it Pul.—1st, Gs, 193G LOO *4 a. I
.lan.
! Id b. 99Jan. 102
N. Pac.Ter.Co.—1st, Gs, 1933... 1014
Ohio it Miss.—Consol., 7s, 1898. 1143sb.| 1144b. Ili4 Jail. 4 144 Jan.
Jan. ! 1164 Jam
Jam 4 25 4 Jam
11124 1114 Jan 1113 Jam
let, So. Min. !>'*vr.—08,1910....! 112
403 h. 4014 Jan. ! 103*4 Jlltl
1st, Chi. it Pae.W.Div—5s,’21:1024b. 10L
101
Jam
400
Jam
,1004b.
Wis. <tMin. Div.—5s, 1921
101
Jam
1004 4 00
Jam
Terminal 5s, 1914
;1004 443
4
Jail.
139 4 Jan. 1C
-Chlo. & N. W.—Consol. 78,1915; 139 b. 4304
j 128 4 J am 1314 Jam
Gold, 7a, 1902
|128 1).
4
1194 Jan.
1173s Jan.
Jan. 4 05
Jan.
1167s Jan.
a.
N. Y. Out. it W.—1st. 6s.
i
| 94
Highest
Lowest.
1194 Jan
116
a.
G*6"a.: 56‘
..
j 09 Jam
oltj GO Jab. 69
Jam
Jam : 70
63
! 0 4
26 4b.
22
Jam i 27 4 Jam
| 26
91
! 904 Jan.
9 1
Jail.
Mort. Gb, 1911
,9r^, 107
1). 105
Jail.
Jam 106
Cbes. O. <kSo. W.—5-Gs, 1911 ...:lOo 1).
1024b. 10 *4 Jan.
102:4 Jar.
Ctile.Bur. <t Nor.- 1st, 5b, 1926. 10214b.
Jam
1130 4b. 1294 Jan. 4 31
Chic. Burl. &Q.—Com 7b, 1903. 1294b.
J105-4 ; 1044 Jam 105 3[-j jau.
B, 1908, coup,
Extern coup., 4b, 198G
6b, currency, 1918
6s, gold, ser.
Jan. 13 Jan. 20
Highest.
4024
1134 b. 113 4 Jan. ; 1144
115 :i4 > 4 145s Jan. ; 1144
10334
102
Jam
1024 Jam Li 34
t*.
’98 100
Railroad Bonds.
;
;
t
Range since Jqn, I.
Closing.
Range since Jan. 1.
Jan. 13 Jan. 20
RANGE SINCE JAN. 1, 1888
BONDS AT N. Y. STOCK EXCHANGE, AND
BONDS-LATEST PRICES OF ACTIVE
Closing.
[Vol. XLYI,
....1892
1893
J&J
..1900
1892-1898
1910
1919
1024
••••••
107
107
112
113
35
10
20
7
10
95
118
Rhode Island—6s, con.. 1893-1894
ISouth Carolina—Gs, non-fund.1888
114
1893
105
GO
Brown consolidated
Gs
Tennessee—Gs, old
1892-1898
Compromise, 3-4-5-Gs
New settlement—Gs
5s
:
3s
Virginia—6s, old
91
121
Bid.
SECURITIES.
6s, consolidated, 2d series
1912
Ask.
5
•••■•«
704
1913
1004
1913
1913
90
69
*
964
69*4
48
95
8
9
January 21,
THE
18S8,]
QUOTATIONS ON FKIDAT OP INACTIVE RAILROVD IDNOS.
BON!)S —SXOCK EXCHANGE
Ask.
Bid.
SECURITIES, r
Eliz. C. A N.—S.f., deb., 6s. ..1921
1st mortg., 6s
1920
Erie— 1st, extended, 7s
1897
s
Registered
Boat. H. Tun. & W.—Deb. 5s... 1913
BrooklynElev.-1st, G., 6s...1924
1915
2d, 3-58
Bnrl. Ce. Rap. & No.—let, 58.1906
125
110
.
6s'II1921
5*6%
40
85
Central Iowa— 1st, 7s, Tr. Recl899
Eaet’n Div., 1st, 6s
1912
1893
1903
Louis. A Mo. River—1st 78.. 1900
2d 7s
...1900
St. L. Jacks.& Chic.—1st, 7s 1894
1st, guar. (564), 7s
1894
2d mortg. (360), 7s
1898
2d, guar. (188), 7s.
1898
Mies. R. Bridge—1st, e.f. 68.1912
.
1st, 8e, P. D
2d, 7 3-10s, P. D
let, 7b, $g„ R. D
let, La Crosse Division,
let, 1. & D., 7e
1st, C. & M., 7s
1st, 7e, f. A D. Ext
1st, S. W. Div., 6s
let, 5s, La C. A Dav
1st, H. AD., 7s
1st. H. A D., 5s
124 %
121
120
118
Dub. A S. G\—2d Div., 7s ...1894
Ced. Falls A Minn.—1st, 7s.1907
Indianap. D. A Spr.—
1st, 7s, ex. fund, coupon
115
115
107
79 V
102
120-%
120
123
126% 127
123%
sink, fund 5s
Dakota A Gt. South., 5s
1916
90
j
Registered, 5s
1
120%;
1
100
1916
Chicago A Noithwestern—
Extern, 1st, 7s
1919
1895j
Kan. City A S.—1st, 6s, g.1916;
Ft. 8. A V.B. Bg.-lsti 6s. 1910;
St. L. K.ASo.Wn.—1st, 68.1916
Tex. A Pac.—1st, 6a
1905
1st, 6s, ex coupon
Consol., 68, trust receipts.1905
Pennsylvania RR.—
Pa. Co.'s guar.
Pa. Co.’s
4%s,
4%s, lstcp..l921
1921
reg
Pitts. C.
ASt.L.—lst,ep.,78.1900
2d, 7s
1913
2d, 7s
19121
3d, 7s
1912
4tli, siuk. fd., 6s
Pitts. A Weste; n—1st, g., 4s.. 1917
Pitts. Cleve. A Tol.—1st,6s...1922
1922
1932
Rich. ADanv.—Deb. ex cp.6s.1927
Consol, iuort., gold, 5s
1936
Atl. A Char.—1st, pr., 7s
1897
Pitts. Junction—1st, 6s
1st, 6s, 1886
Val.—1st, cons., 7s
Coupons off
101
67
22
1926
1910
110%
Jack. Lan. A Sag.—6s
1891
Milwauk. A North.—1st, 6s... 1910
105
Extension, 6s
Milw. Lake S. A West.—
Conv. deb., 5s
1913
107
1
1907
09%
114%.
106
106
94
95
105
105
104
107
107
100
106%
*106
*117
139
137
141
1*4*6”
126
106%
i06%r.
112
105
107
*70%
71%
107
108
90
...
89
*90%
*5*5"*
50
St. Louis A Iron Mountain—
Arkansas Branch—1st, 7s.. 1895 109%
Cairo Ark. AT.—1st, 7s
1897 ■K8
St. L. Alton A Ter. Haute—
Bellev. A So. Ill—1st, 8s. ..1896 117
Bellev. A Car.—1st, 6s
1923
St. Paul Minn. A Man.—
Dakota Extern—6s
1910 117%
82
Montana Extent.—1st, g.,4s. 1937
Registered
1931
1931
114%
1909
1st, 6s, Pierce C. A 0
Equipment, 7s
Scioto
96%
Min’s Um—1st, 6s
1922
St. Paul A Duluth—1st, 5s
1931
Sodus Bay A So.—1st, 5s, g... 1921
Tex. Central—1st, s. f., 7s
1909
1st mortg. 7s
1911
Tex. A N. 6.—1st, 7s
1905
Sabine Division, 1st, 6s
1912
Valley R’v Co. of O.—Con. 6s.l921|
Virginia Midland. - lac., 6s...1927
Michigan Div.—1st, 6s
1924
Minn.ASt.L.—I’a Ex.—1st,7s. 1909
2d mortg., 7s
1891
Escanaba A L. S.—1st, 6s... 1901 111
Des M. A Minn.—1st, 7s
1907 122
1
Iowa Midland—let, 8s
1900 127
Pe ninsula— let, conv., 7s... 1898 125
......j
120
'Chic. A Milwaukee—let, 7s. 1898 118
Win. A St. P.—2d, 7s...
131
1907 129
Mil. A Mad.—1st, 6s
1905 112
Ott. C. F. A St. P.-lst, 5s.. 1909 105% 1
*
Nor hern Ill.—1st, 5
108%'
1910
Cl. Co., tin. A Ind—1st, 7s, s.f.’99| 120
123
j
Cons ol. sink, fd., 7s
1914'
Cine. S t. Paul M. A O.—
Chic. 8. P. A Minn.—1st. 6s.1918! 124
125
1898
Incomes
1900
Rich. A W. Pt. Ter’l. Trust 6s.. 1897
San Ant.A Arans. — 1st,6s,’85-1916
103
116
59
117
106
Deeatui^ist,
Coupon, 58
1st, 6s
115
|Pitts. McK. A Y—1st, 6s
167%
Cecilian Branca—7s
1907
Pensacola Div.—6s
107%
1920
1923 *107
St. Louis Div.—1st, 6s
1921
130
2d 3g
1980
1898! 128%
124
Nasliv. A
7s.. 1900
1898 120
126
S. A N. Ala—S. f., 6s
1910
1902 125
Louisv. C. A L.—6s
1931
7s.. 1893 114
120
5 p. c. 50 year goldhds
1937
1899 116
Pens. A At.—1st, 6s, gold.. 1921
1903 124
1934
....1908 123 j
■ Lou. N. O. A Tex.—1st,4s
1934
1909 112 !....11 2d mort., 5s
11 Mexican Cent.—New, ass., 4s. 1911
1919 *102 1
(124 j
1910 121
Income, 3s
1911
u° i Michigan Cent.—6s
1910
1909
..
105
Mahon’g. Coal RR.—1st, 5s. 1934 *103
Long Island RR.—
N. Y. A M. Beach—1st, 7s.. 1897 110
N. Y. B. AM. B.—1st,g.,58.1935
86-e
60
Louisville A Nashville—
1
1st, 6s
St. L. V. A T. II.—1st, g.,
85*2
1(0
100
80
110%
Col. Trust, 6s.
1908 j* 104
Col. Trust, 5s
1907
C. Br. U. P.—F. c.,7s
1895 j* 10 7
Atoh. Col. A Pac.—1st, 6s. 19051 • —
Atcb. J. Co. AW.—1st, 6s.1905 *103
Ut. So.—Gen., 7s
1909
Missouri Pacific—
Verd’s V. Ind. A W., 1 st, 5s. 1926
Ler. AC’y Val A. L.,lst,5s.l926
St. Louis A San Francisco—
Ask.
*100
114
113»8
1897 113 '8
1892
7S.1H97
111
2d, 7s
1898
119%
2d, guar., 7s
1898
104 1104% Pine Creek Railway—6s of 1932
1906
*92%
97%
Pacific RR.—Cent. Fae.—(Con ) —
Cal. A Oregon—Ser. B., 6 1892
West. Pacific—Bonds, 6s ...1899
No. Railway (Cal.)—1st, 6s. 1907
Union Pac.-1st, 6s
1896
Clev. A P. —Cons., s. fd., 7s.1900
-
92%
Bid.
SECURITIES.
Pitts. Ft.W. A C.—1st, 7s...1912
il*6%
Lake Shore A Mich. So.—
Cleve. P. A A—7s
.1892
Buff. A Er.—New bonds, 7s. 1898
Kal. A W.Pigeon—1st, 7s... 1890
Det. M. A T.—1st. 7s
1906
Lake Shore—Div. bonds, 7s.1899
98%
>Consol., reg., 1st, 7s
1900
Consol., reg., 2d, 7s
1903
Chicago A Pacific Div., 6s.. 1910 117% 1
conv.
Registered
114%
114%
1905
Chic. A Mo. Riv. Div., 5s ...1926
Mineral Point I)iv., 5s
1910
C. A L. Sup. Div., 5s
1921
Faigo A South., 6s, Assu .1924
Inc.
62
i’i2* il3"
1901
fund, 5s. 1919
Sinking fund, 4s
1919
1921
Plain, 4b.
Chic. Milw. A St.P.—
106*
11918
r
100
Iowa Div.-Sink,
.1905!
131%
.
100%
100
99
5e, sinking iund
1st, 2*26
Extension, 4s
Keck. A Dee M.—let, 5s
101%
120
117
110
115%
102
1st, gold, 3%s
1951 "93"
Springf. Div.—Coup.,..6s, 1898
Middle Div.—Reg., 5s
1921 'll 2“
123
C. St. L. A N. O.—Ten. 1., 7s. 1897
1st, consol., 7s
1897 'i’l5% 120
1907 '120
2d, 6s
Gold, 5s, coupon
1951 116
55
45
Chic. Burling. & Q.—
Nebraska Extension 4e
1927
Chic. Burl. A No.—Deb. 6e
1896
Chic. Rock 1st. A Pac.—
ires Moines A Ft. D.—1st,4s.1905
1908
Green B. W. A St. P.—1st, €s 1911
Han. A St. Jos.—Cons., 6s
1911
Hous. E. A W. Tex—1st, 7s...1898
Illinois Central—1st, gold, 4s. 1951
1924
Chicago A Alton—1st, 7s
Sinking fund, 6s
1920
Registered
Trust certificates
Illinois Division—1st 6s
1912
Cons, gold bonds, 6s
1924
Cent. RR. A Banking Co., Ga.—
Collateral gold, 5s.
1937
dies. A O.—6e. gold, ser. A... 1908
Chee. O. A So. West.—2d 6s... 1911
fd. coup., 7s
Ask.
B. N. Y. AE.-lst, 7s
1916 134
138
N. Y. L. E. A W.—Col. tr., 6sl922 105% 1<5%
Funded coup., 5s
1969 * 89% 91%
95
Buff. A 8. W.—Mortg. 6s.... 1908
90
Evan. A T. H.— 1st, cons., 68.1921
116
Mt. "Vernon—1st, 6s
1923 '169
108
Evans. A Indian.—1st, cons... 1926
Eureka, Springs R’y, 1st, 6s, g.1933
97% Fl’t A P. Marq.—Mortg., 6s... 1920 118
100
Grand Rap. A Ind.—Gen. 5s..1924
Minn. A St. L.—let 7s, gu .1927
Iowa C. & West. — 1st 7a
1909 '109
Ced. Rap. I. F. & N., 1st 68.1920 105
1st 5b
1921
...
cone.,
119
112
106
*114
101%
131
1919
1923
1920
1888
Reorg., 1st lien, 6s
1041$
Registered
Buff. N.Y &’Phil’.—Cons’.
Trust certificates
General 6s,
1st,
*98* "99"
104
’
80
*105
1934
Consol. A col. tr, 5b....
2d, extended, 5s
3d, extended, 4%s
4th, extended, 5s
5th, 7s
7o
1925 109*
6e, gold
Bid.
SECURITIES.
Railroad Bonds.
(Stock Exchange Pi'ices.)
Atch. Top. & Son. Fe—4%s ...1920
Sinking fund, 6s
1911
Beecfi Creek-let gold, 4 s
193b
Balt & Ofiio—lstos, ParkB ..1919
9T
CHR0N1CLF.
no
no
112
100
8234.
-
•
•
•
mm
70
114
10434
75
Wab. St. L. A Pac.—
1910
Havana Div.-6s
Southwest Ext.—1st, 7s
1910
Pacific Ext.—1st, 6s
1921
1921
Indianapolis Div.—6s
Detroit Div.—68
1921
Minn. A Pac.—1st mortg. 5s.. 1936
Cairo Div.-5s
1931
Minn. A N. W.—1st, 5s, gold.. 1934
9S%
Tol. A Wab.-Equip. bds.,7sl883
Minn. S.Ste.M.AAtl.—1st,5s..i926
91%'.
Mo. K. A T.—Cons.,2d, inc....19111
!......
Quin. A Tol.—1st, 7s
1890
II. A Cent. Mo.—1st, 7s
Han, A Naples—1st, 7s
1890 *
107%
1909
*9*6*
Ill. A So.Iowa—1st,ex.6s. 1912
Mobile A Ohio—Col. tr., 6s ...1892 101
St. L. K. C.AN.72% 73%;
St. L. A Cairo-4s, guar
1931
Iieal Estate A RR.—7s....1895 111
112%
I
Morgan’s La. A T.- 1st, 6s
1920 li»3%!
Claritula Br. —6s
1919
1918 122 124
1st, 7s
St.Charles Br’ge— 1st,6s. 1908
123
127%! Nash. Chat. A St. L—2d, 6s.. 1901 104% 106% i
No. Missouri—1st, 7s
124
124% N.J. June.—Guar. 1st, 48
105%!
1895 112% 114
1986 104
Wab. St. L. A Pae.—Iowa Div., 6s.
Chic. A E. Ill.—1st, e. f., cur.. 1907 *114
1 Registered certificates
:..
West. Union Tel.—Coup. 7s.. .1900 *116% 117*
Chic. A W. Ind.—let, s.f., 6s..1919 112
| N. Y. P. A O.—Prior lien, 6s ..1895
00
General mortgage, 6
*116%
N. Y. A Northern.—2d, 4s
55%
Registered
1927
1932 115%
!
Chic. A St. Louie—1st, 6s
N. Y. A Newr Eng.—1st, 7s
|N. W. Telegraph—7s
1904 *10o
1915
1905|
Cin. I.St.L.A Chic.—1st,g.,4s .1936
Wheeling A L. E., 1st M. 5s. .1926 *94% 95
1st, 6s
1905
Market st. Cable Ry., 1st, (s.1913
N.Y. Susq.A West.—Deb. 6s... 1897;
Registered...
Cin. Jack. A Mac.—1st,g.,5s...1936;
76
95
95%
2d, 4%s
:
19371
jManhat. Beach Imp. Co.—7s. 1909
!Ain. Water Works Co.. 1st. 6s. 1907 102% 103%
Col. A Green.- let, 6s
102
Y. N. H. A H.—1st, reg. 4s. 1903 104
1916 *no
Term. C. I.A R’y.—Consol., 6s. 1901
Y.Tex.
AMex.—1st,
4s
...1912
6s....
2d,
1926
ioo”
Col. A Cin. Midland—1st, 6s.. 1914
South Pitts.—1st, 6s
1902
‘*9*4%
1917
62% 83
Bir. Div.—1st con. 6s
Del. Lack. A West.—
Dividend extended
Col. A Hock. Coal A L—6s, g..l917
Convertible 7s
James River Val. —1st, 6s. .1936 103
..1892 110%
St. Paul A N. P.—Gen., 6s.. 1923 116%
Mortgage, 7s
1907 132
Income Bonds.
1*3*2%
"132
Registered
,
orris A Essex—1st, 7s
145
Helena A Red M’n—1 st,g.,6s.l937 i*03*
1914!
Dili. A Manitoba—1st, g. 6s.1936 100
(Interest payable ij earned.)
2d, 7s
189l! iio%
Hel. B.Val. A Butte, 1st, 6s.l937
Bonds, 7s
1900 116%
25
Atl. A Pac.—Cen. Div
1922
7s of 1871
128
Drummond A P’bg —1st, 5s. 1937
1901 125
.Cent. Iowa—Coup, debteertf’e
Helena A No.—1st, g’d, 5s. 1937
93
1st, cor., guar., 7s
1915 133%
‘Eliz. City A Nor.-2d inc
DfeL A Hud. Canal—1st, 7s... 1891 106% 107%
[. O. A No. E.-Pr. 1., g., 6s ..1915
1970
35
99
105* I Ind.Dee. A Spr.—2d inc. tr.ree. 1906
1st, ext., 7s
1891 106
'Leh. A Wilkesb. Coal
1883
Coupon, 7b,
1894 114%
i*0*4*
104% Milw. Lake Sh. A W.—Income
Registered, 7s
1894 115
Imp. A Ext., 6s
1934 102
23
Mobile A Ohio—2d pref. deben
Pa. Div., coup., 7s
1917 140
1924 104%'
Adjustment M., 7s
3d pref. debentures
110
(101%
Registered..
>gd. A Lake Ch.—1st, 6s
1920
4th pref. debeutures
Albany A Susque.—1st, 7s.. 1888 101% 101 34 mio A Miss.—Cons., s. f., 7s.. 1898 114%:il5
DO
N.Y. L. E. A West.—Inc., 6s..1977
135
General 5s
1932
90*4
1st, cons., guar., 7s
1906
Ohio Cent.—Min. Div.-Ino. 7s 1921
•bio Cent.—1st T« r. Tr., 6s... 1920
Registered...:
Min. Div.—1st, 6s
1921
Ogdens. A L. Cham.—Income. 1920
let, cone., guar., 6s
1906 i*2*0*" *120%
Shenandoah Valley—Inc. 6s.. 1923
>hio River RR.—1st, 5s
96%
Registered
1936
Rens. A Sar.—1st, coup., 7s. 1921 141% 143
( >regon A Cal.—1st, 6s
1921
Free List.
; ’anama—Sink, fd., sub., 6s... 1910
'140
Registered
Det. Mack. A Mar.—1st, 6s.. .1921
] eoria A Pek U’n—1st, 6s
1921 112
Det. Bay C. A Alp.—1st, 6....1933 *1*0*4% 105%
Consol. Coal, conv. 6s
2d M., 4%s
897
1921
E. Tenn. Va. A Ga.—1st, 7s... 1900 118
Cumberland A Penn., 1st, 6s.1891
-] aciltc RR.-Central PacificDivisional 5s.
1930, 105
Gold bonds, 6s
1895 113%!
2d, 6s
I8b8j
E. AW. of Alabama—
Erie A Pittslmg R’y—Cons. 7s, ’9s
Gold bonds, 6s
1896 113%!....,
Little
Ro
k
A
Fort
Smith
1905 107% \09
lst.cons 6«. void
113%
Gold
bonds.
6s
1H97
1926
j
1
",86”
.
.
Sra. Bing. A N. Y.- 1st, 7s. 1906
......
|:
b
r
Ni price
Friday; these
are
lateet
quotations made this weu.
W&SaitBmk
THE CHRONICLE
98
Banks.—The following statement shows the
the
Associated
Banks of New York City for the
eondition of
week ending January 14, 1888:
Bank*.
Loam and
Discounts.
Legal
Specie.
other
than U. S.
<g
$
$
America
Phenix
City
Tradesmen’s
Chemical
Merchauts’ Exch.
Gallatin National.
Butchers’ A Drov.
Mechanics’ A Tra.
Greenwich
Leather Manuf’rs.
Seventh Ward
State of N. Y
Americ’n Exch’ge.
Commerce
10.191.000
755.100
7.680.500
Pacific
Republic
Chatham
Peoples’
..
Irving
Citizens’
Nassau
Marker A Fulton.
St. Nicholas
Shoe & Leather...
Corn Exchange...
Central National..
Second Natioi.al..
Ninth National....
First National
Third National....
N. Y. Nat. Exch...
County
German-Americ’n.
Chase National....
Fifth National
B’k of the Metrop.
West Side
Seaboard
Sixth National....
Western National.
264,80"j
2.701.300
96.200
249.000
1.472,4 00
534,400
44,500
5i 9,600
267,900
2,779,900:
1.888,400
574.000
925.400
614.900
498.700
122.200
322/00
8,590,-00
5.0/0,700
843,900
45.000
897,400
42,200
45,000
2.657.300
3,656.000
45,000
40,700
45,000
623,000
371/00
312,80"
77/00
357.000
679.400
270,000
5,338,*00
877,500
671.800
337.600
1.249,700
5.189.300
2.070,000
45,6*0*6
255.000
161,700
4/75/00
412~ 8 00
1.724.300
3,465,000
4*43.03*0
1,324,400
21.475 000
23,168/00
985/00
36,400
168.200
114/00
1,985.000
1/99,400
si’, 606
4.381,500
1,3 <9.000
1,870.000
1,112.000
17,742/001
687.000
1.354.800
438.000
4.1*9 000:
5 722,200
390,900
1,767.40.»
270,700
140/00
161.300
192.400
91,300
658.200
188.300
549,100
2.002,400
531.900
2,691,300
458/00
1,595.200
786.800
178,300
190/00
177,200
680/00
303.600
98/00
3.766,100
2,406.400
2,233.700
1,443,700
3,705,500
1,838.500
2.365/00
820.300
1.770.600
542,400
7e3,400
520/00
285,500
931/00
2 31.600
468,200
180,000
45,000
38,000
45,000
448/00
8,752 000,
18.654,900'
4,582.600'
1.167.100;
001
67* 500
>!
3.712.400;
45,000
3,084.900
2.736.500
1,696.7001
44,000
45,000
289,500
2/23.700
2,717,10 0
126,000
1,095,200
132,900
4.875.900
2
6.932.500
356,173,900 77,944,000 32,055,400 373,232.500
7,901.500
978/00
8,184/00
123
110
M
T
115
100>*
99
98s4
75Hi
1st Inc.,
42
20
5s, 1931
43
204
$ Last price this week.
Bid.
..
..
..
..
200
200
115
200
.....
.....
.
.....
Bid.
Ask
200
N. Y. Nat. Ex 117
130
•Jlnth
V. America. 122
>lorth Riv’r. 130
iriental....
185
Pacific
162
168
p ark
185
People’s. ...
122
Paenix
Republic .. 138
St.Nicholas.
7th Ward... 115
230
Second
Shoe A Leath
<L Y. Count
......
115V,
180
3*0
150
Leather Mfs’ 195
Manhattan.. 162 Hi
Market
170
Mechanics’
M’chs’ATrs7 141
Mercantile.. 147
Mercnants ’.
M’rch’ts’Ex. 115
Metropolit’n 18
152
Nassau
216
New York
BANKS.
Ask.
r rving
..
.
..
17 6
128
140
170
169
.....
141
L25
126
.
......
1424
StateofN.Y.
122
20
160
i 5*2
il8
120
Third
Tradesmen’s 103
Tnited sr’e« 210
..
105
Insurance Stock List.
[Quotations by E. 8. Bailey, 64 Pine St.]
Bid.
OOMPAN’S
Alliance
....
American
...
Brooklyn
...
City
Glint,on
.
_
Commercial.
Commonw’h.
Ask.
COMPAN’S.
Farragut.... 110
Fire AsRO’n.
80
Firemen’s...
German-Am. 300
and
Gas
Bid.
Germania...
Globe
Greenwich..
Guardian
Hamilton
Hanover....
Home
150
115
180
50
110
125
130
67
Howard
Jefferson.... 105
Kings Co.... 175
Knickerb’k r 78
90
Liberty
Long island 90
Lafayette... 75
Manuf’c.A B 110
150
160
160
175
125
120
125
95
50
100
225
245
1(0
110
120
100
90
320
140
145
145
160
110
110
117
85
45
80
235
K.n.gle
Empire City 90
Exchange... 90
41,500
45,01)0
10534 196
3dei 3-4s
Gallatin
G vrfield
Germ’n Am..
Germania.
Greenwich
lanover....
Im. A Trad’s’
142
Aai. Exch... 140
ft road way __ 260
Sutchs’A Dr 162 4
130
135
’entral
205
Ohase
flhatham
220
3200 3500
140
150
Citizens’
300
Otty
i 68
Oomraerce
128
Continental. 120
200
East River.. 130
11th Ward. 150
Fifth Ave... 750
! 6(0
143
Fmrth
165
Fulton
180,000
120.400,
19
2ds, 5s
BANKS.
Ask.
175
America
Continental.
3,219,0(i0|
126,000
222,200
218.300
615,000
182,700
Bid.
Citizens’....
6.926.300
3,7*-0.80u j
2.6/4,70
BANKS.
200,900
180,000
76
75
21
.....
Bank Stock List.
Bowery
Broadway...
2/57.000
1
New York Local Securities.
45,000
223,400
2,739,500,
2,658.1
120
104
105
109 3* 11" i4
111
112i4
83 Hi
82
...
4/48/00
5,885.100
112.100
180.500
3.338/00
924,300
12934
....
12,*96,900
3.016,000
3,376.000
2.938,600
Ask
BA LTI MORE,
RAILROAD STOCKS.f
Baltimore A Ohio
1st pref
2d pref
RAILROAD BONDS.
Baltimore A Ohio—4s....
Cin. Wash. A Balt.—lets.
i'124
+ Per share.
257,300
2,266.000
8,005.000:
2,326,700
Garfield
664,100
295.300
861,900
256/00
158,900
121
113
86,200
**2,600
1,682.000
1,227.300
1294
103
2d, 7s, coup. A reg.,1893
Cons., 7s, coup., 1911..
Cons., 6s, g., I.R.C.1911
Imp., 6s, g., coup., 1897
Gen., 6s, g., coup., 1908
Gen., 7s, coup., 1908
Income, 7s, coup., 1896
Ex-dividend.
Phila.A Reart’g (Cont’d) —
Cons. 5s, 1st ser.,0., 1922
Cons. 5s, 2d ser.,c.,1933
{
Debenture coup., 1893. 7
Deferred incomes, cp...
140
doe"
Perkiomen—1 st, 6s,cp.’87
Phil. A R. 1st, 08,1910..
520 800
567/00
3,702,900
2,334.200
Germania
United States
Lincoln
21.388.200
4.295.700
4.230.400
1.936.400
Penna.—Gen., 8s, cp., 1910
Cons., 6s, coup., 1905...
Cons., 5s, reg., 1919
4 4s, Trnst, Loan
Bid.
SECURITIES.
104 Hi
95
Cam. A Amb.-M., 6s, ’89 104
Col. A C. M.—1st, 6s. 1914 4
Leh.V.—lSt,6s,C.AR.,’98 120
2d, 7s, reg.; 1910........ 137
Cons. 6s, C.A R., 1923.. 129
*
365.600
6.222/00
Fifth Avenue
German Exchange.
90,000
2,402.000
2 957,300
14.240,000
12.069*;' 001
5,437,200;
5,130,100
19,905,400
4,563.300
1,365,800
2,435,800
Bowery
281,000
1.168.900
1,038,700
8.' 81,000
3 381,000
8.672.400
193/00
611,400
939/00
354/00
2.038.400
1/75,500
15,200.000
East River
Fourth National..
669,000
175,300
3,134/00
19,122,600
17,698,700
45,000
441.700
80.C00
771.500
6.2< 2,500
4.260,600
2.080,100
Continental
Oriental
Importers’ A Trad.
Park
North River
45,000
4 28.200
652.600
119/00
315.000
496,000
2,661,000
2,324.500
972,300
1.750,400
11.742.900
2,813.« 00
2.712.6: 0
2,3*8,-00
4/56,600
1,886,800
3,100,000
11,623.100
3,130.000
1,480 000
tion.
7,793,000
688.000
165.000
115.200
876,800
598,100
5.625/00
7,641,500
2.405,000
8/73.200
4,573.800
1,808,700
2.753/00
Mercantile
N. Y.
617,00u
650.U00
15,68-.000
16.919.000
9,970,000
1,105.000
2.337.800
521,500
6.065.zOO
1,438/00
3.560.700
950.000
1.577.800
1,933,000
Circula¬
$
1,*45,000
2.854,9. '0
1,049,300
3.193,5o0
Broadway
North America
Hanover
1,760.000
10.540.000
0,798,000
8.11:1,400
7,967,000
11,073/00
3.110,000
8.257.200
2.580.200
19 013,300
3,469.500
5.1! 5/00
1.859.600
2.005,000
New York
Manhattan Co
Merchants’
Mechanics’
Vet Deposit*
2e
enders.
Ask.
Bid.
SECURITIES.
New York City
Average Amount of—
[You XLVL
...
..
....
Mechanics’ *
Mercantile..
71
55
Merchants’.
80
Ask.
COMPAN’S.
125
•215
60
120
135
135
65
115
200
33
100
100
85
125
85
70
100
145
105
100
95
160
100
..
180
170
100
105
137
105
75
125
150
140
280
.....
130
Rutger’s
Standard.... 100
Sterling
Stuyvesant
....
Ask
87
80
Montank....
140
Nassau
95
National....
N. Y. Equit. 150
75
N. Y. Fire
150
Niagara
North River 90
160
Pacific
Pet’r Cooper 160
90
People’s
100
Phenix
157
70
110
United St’es 140
Westchester 130
Wiinomah’i’’. 260
Railroad Stocks and
City
[Gas Quotations by Gko. H. Prentiss
Bid.
Bonds.
A Co., Brokers, 49 Wall Street.]
•
Total.
Boston Banks.—Following are the totals of the Boston
1887-8
Loans.
Specie.
$
*
L. T’nders.
9
$
3,650.300 103.351.800
106.354.800
3,797.600
3.618/00 1(18.126.000
8,039 600
D’c. 31 137.509.000
Jan. 7 138.5*7,000
“
14 139.127,500
Deposits.*
8,4 16.! 00
8.71 5.300
banks:
Circula’n.
Agg.GTnge
$
»
60.287,191
93.563,959
35.597,3:0
7,042,700
7,045,000
6.658.900
Lawful
Loans.
Dec. 31
Jan.
7
“
14
Mon’y
Deposits/
Circula’n
$
2,311,250
$
$
9
86.219.800
*6 023,200
*5.862.500
22,128,700
83.550.200
84.910.200
•Inc u ’ing the item
23."40.500
23,5(2/0 0
“due t
84,397,700
$
49,565,216
2.299 050
J/raey Git.y A Hoboken.
Metrrnpnlitan—Ronds
M ltual (N. Y.)
Bonds, 6s
N m«an (Rklyn.)
’■‘Grip..
71,107/62
62,501,64 3
other banks.’’
Quotations in Boston, Philadelphia and Baltimore.
are quotations of active stocks and bonds.
A
complete list is given in the Chronicle the first Saturday
Following
of each month.
7s, 1900
r’dway A7tb A v.—St’k..
1st mort., 5s, 1904
2d mort., os, 1914
8’way Surface bds.,.1914
Bonds guar., 5s. 1905 ...
irooklyu Citv—stock
1st ufort., os, 1902
fklyn. Crosstown—Stuck.
1st mort.,
ftnshw’k Av. (Bkln>—St’k
C mtral CTosstown—Stk..
1st
Bid.
Ask.
BOSTONRAILROAD STOCKS/
Atcmson
Boston A
Boston A
Boston A
GaPi
94 \
160
211
242
9434
Topeka
Lowell
&
159
209
Maine
Providence....
......
i 43
Southern
22
Central of Massachusetts
42
60
9
Preferred
Chic. Burl. A North’n
Cleveland A Canton
?
i
Preferred
Eastern
Preferred
Fitchburg, pref
Flint A Pete Marquette.
Ask.
Bid.
Louisv.Ev.ASt.L.—1st, 6s
2d mort., 2-6s
Mar. H. A Ont.—1908,
115 4
90
90 to
111
112
97
109
108
102 4 103
06
6s, iioo
-
1925,6s
20
income
40
113
$128
964
67
20 Hi
6b4
Mexican Central—4s
32
Preferred
SECURITIES.
C Fort Scott A G.—7s
K.C. Memph. A Birin—5s
K. City Sp’il A Mem.—6s
K.C. Clint. A Spriugf.—5s
Little R. A Ft. 8.—7s
N Y. A N. Eng.—1st,
1st mort., 6s
7s..
124
.....
.
10134
96*a
90 Hi
.
-
Kan. City Ft. S. A Gulf.. 4
84
Prof erred
4 54
K. C. Memph. A Birin
Kan. C. spring!. & Mem. 4 84 4
Mexioan Central
144 15
115
114
N.Y. A N. Eng., pref
140
Northern
j
75
4
Old Colony
17
17
Wisconsin Central
Preferred
1
*89
46
..
Coll. Trust, 5s
Plain, 6s
Mortgage, 5s
Trust, bs.
Eaat’rn, Mass.—tis, new..
lO^s
L9high Valley
Little Schuylkill
55
60
u:o
119
914 91*1
90
120
t Per alia'e.
105 4
120 *11
105s
10
55 Hi
Northern Central
Pennsylvania
BONDS.
Atch. A Topexa—1st, 7s.
Ex-dividend,
PHILADELPHIA.
RAILROAD STOCKS. 1
Buff. N.Y. A Phil.,ass.pd.
d
Preferred
Phila. A Reading
West Jersey
RAILROAD BONDS.
543b
3214
i Last prioe this week.
54*8
32
60
Allegli. Val.—7 3-1««. ’86 | 113ia
i 110
7 ,E. ext., 1910
Inc. 7s. end., conn..
1 22
100
95
93
Kiv.-St.k
i.riRt’ph-r<ftlorh st—stk.
Bonds, 78, 1898
Ory l)k. E.B.A
1st mort.,
Bat,’v—Stk
7s, 1893
118
106
160
100
150
150
116
78
116
122
111
148
110
1
Broadway.]
104
155
U)8
200
112
36
;42dSt. Manh. A St. N.Ave
1st mort., 6s, 1910 .. .... 107
53
2d mort., income, 6s
f oust. W.St. A P. P’v—Stk. 155
110
1st, mort., 7s, 1894
1' 6
Ninth Ave
100
,8)coud Av.—Stock
105
1 st mort.. 5*. 1910
107
160
1.0
210
117
41
108
60
D. D. E. B. A B.— -crip,
6s
Ei<hth Av -stock
175
| scrip, 6s, 1914
42dA 'Gr’nd sr„ F’ry—st,k
104
1054 !
1st mort., 7s, 893
28
114
102
103
75
70
80
80
121
110
160
'
155
i
100
120
| Oousol., 7s, 1888
81
|Sixth Av.—>r,oo.k
1
118
1 At. iiiori., 7s, 1890
...
125
Third Av.-*"><•«
113
Bonds, 7s, 1890
152
Tw "ity-thii"
-*tock..
112 Hi 1
1st -'"ft., 7s, 1893
>••••■
....
165
110
217
103
215
112
112
108
HO
107
100
175
115
221
100
220
114
Unlisted Securities.—Quotations from both Exchanges:
Bid.
SECURITIES.
Co
85
Atlan, A Char.—Stock...
Atl. A Char. Air L.. 1st. 7s 118
At.APac.-lstM.C.D.o d0s
Bost. H. T.A West.—Stk.
Brooklyn Elev’d—stock.. 3-1
Cape Fear A Yad.Val., 1st
6
Chic. A Atl.—Ben,, tr rec.
Mexican National tr. rec.
1st, mon gage, tr. rec
New 1st 6s
90
121
1 hie. Gas Trust
Ghic. Santa Fe A Cal. 5s..
Cinn. A Spiingfield
Den. A Rio Or. W.—St’k.
Dul. S. Shore A At.— Stk.
*
-
-er
......
40
•
......
7 Hi
38
37
.....
.
16
30
2*4
3
la4
»h H<
16 Hi
106 Hi
106
48
4 6 Hi
Georgia Pac.—Stock
Bridge—Stock
3
Kanawha A Ohio
1st pref
2d pref
1st Hs
Kan. Citv A Omaha
1
11
4
65
8
0
]"ev
Vpt nonsrrnrr'n Cn
N. Y.
M
....
...
7Ha
40
92*4
97e
8H1
41 Hi
93 Hi
104
1111. Tei.— Stock.
2
N. Y. W. S. A Buff
(North. Pac.—Div. omuls..
1011*
Steam.Co.,1st guar.
Ocean
Orange Relr, 1st
Pensacola A Atlantic....
6
C
10*3
8
.
Pitts. A West. RR —Stock
1st
mortgage
Postal Telegraph—1st, 6s.
Kich. York Riv. A Chea..
Rome ADecatur/st M..6s
St. Louis Ft. s. A Wich..
St. Paul E.A Or. Tr., 1st 6s
Southern Tel.—1st M_
Tol. A. A. A N. Mich
Tol. A O. Ceuc., pref
U. S. Electric ingui
Utah Central.—1st
Vicksb. A Meri'ii in
Pref
1st mort
2d mort
1 at, mort
I6H1
7
18 Hi
Westorn Nat.
r**
OQ
W-lot NJ
K^eiy Motor
Lehigh A Wilkes. Coal...
Newp. N. A Miss. Val
1 st, mort,
.....
.
8
26
Pref
Edison Electric Light.... 150
14
Fla. R.y. A Nav. Co
1st 6s
2ds
Henderson
....
......
.....
Bid. Ask.
SECURITIES.
Ask.
Am. Bank Note
-
101
2d mort..'6s
Southern Kansas—5s
90
Texas Division—5s
96 4
81
Incomes
Wtscon. Cent. -1st ser.5s i
2d series, inc., 7s
4
97
26
mort., 6s, 1922
0 nt. Pk. N.A E.
0
SECURITIES.
95
26
112
5, okersi.A FulT.F.—stk.
Agg.Cl’ngs
2.277 870
Bonds, 5s
Consolidated Gas
Ask
62
120
111
80
110
130
109
110
113
61
115
106
78
105
125
105
100
110
People’s (Bkiyn.)..
WLlllamsburg
Bonds, 6s
Metropolitan (Bkiyn.)
Municipal—Bondp, 7s
F.ilton Municipal
Bend/ 6s ...1
Equitable
Bonds, 6s
[City RR. Quotations by H. L. Grant, Broker, 145
Philadelphia Banks.—The totals have been as follows:
1887-8.
103
lol
65
50
103
100
76 Hi 76 »4
16b
114
85
90
102
100
rtriuiltlyn Gaa- Light,
Gas-Light
Hit,! 7, fin s’
Bid.
GAS COMPANIES.
Ask.
Bid.
G VS COMPANIES.
Oar
:
98** *99**
18
24
4
i4
14
.
96
B ink
O
>n
M”
97
January
99
THE CHRONICLE.
2t, 1388.J
Latest
Earnings Reported.
imestmcwt
Week or Mo
1887-8.
AND
aitoad
intelligence.
the
RAILROAD EARNINGS.
Latest Earnings
latest date are given below
whose reports can be ob¬
»j 1887-8.
i
Reported.
1
1886-7.
Jan. 1 to Latest Date
18S7-8.
1886-7.
$
*
1
$
i
173.830 !
■ *
160,623 !
1,850,060 1,655.931
1,646,310 ■1,715,554 j 16,954,644 114,455,577
i
113,591 ! 1,198,749 1 1,054.093
131,539
47,814
47,899
47,899
i!
47,814
Atlantic A: Pac. .1st wk
!
118,192 ! 1,326,349 1 1,235,019
128,816
Balt. A Potomac November.!
554,230
689,470
53,961
j 81,814
Beech Creek ....iNoven
81.1(53
55,750
27,875
l1
39,501
47,846
47,030
47,03;)
l!
47.846
24,964
27,033
12,649
i1
12,878
Cairo V. A' Chic
25,546
25,546
614,920
31,810
569,498
!
34,618
389,000
304,000
! 176,000
148,000
21,339
276,485
227,222
1
26,537
Cp.F’r AYad. Vul December
!.
50,962
57,173
91,795
102,272
! 102,272
91,795
Central Iowa
December. 1 134,518 126,737 1,352,532 1,323,625
Central of N. J
I October... | 971,048 1,049,806 9,597,422 8,779,529
October.. : 1,333,101 1,141,081 11,190,643 9,940,703
Central Pacific
8,175
9,241
Central of S. C. November. 1
433.081
40,574
416,205
42,910
Charlest’n A Sav (November.
7,511
7,917
Cheraw & Dari 'November.
4,099,351 3,755,867
Chesap. & Ohio. November. ! 412,123 358,551
937,528
80,846 1,103,585
87,833
Eliz. Lex. AILS. December
166,875 1,998,178 1,713,325
199,631
Ches. O. A S. W.. December
6,163
7,402
Ches. A Lenoir.. [November.
808,942 7,392,907 6,565,102
i 903,372
Chic. A Alton...jOctobe
i
31,295
67,602
62,591
35,246
Chic. & Atlantic 2d wk
1 154,899
142,901
2,134,200
Chic. Burl. A No. Novem
I
Allegheny Val.
t
......
....
Chic. Burl. A ()
Novem
Chic. A East. Ill. 2d wk
.
12,382,965 2,256,339 25,448.822 24,359,976
74,617
37,6 13
71,573
38,248
11,301
21,547
6,591
11.052
Chic. AIlid. Coal 2d wk
690,510
685,000
332,000 3 15,665
Chic. Mil. ASt.P. 2d wk Jan
Chic. A N’thw’nJ.Novembei i 2,650,190 2,362,609 24,949,163 23,174,294
<5(5,271
73,399
9,169
4,143
Chic. A Oh! Riv. December
43(5,202 5,284,753 4,372,892
491,217
Chic. St.L.APitts Novombcr.
7,0 13
10,815
Chic. St.P. AK.C. -1thwk Nov
636,122 6,314,018 5,589,707
718,933
Chic. St.P.M.AO. November
34,602
3(5,329
17,625
18,614
61,429 2,455,187 2,35 4,586
62,030
<>, 124
6,424
7,448
7.448
Cin.Jack. A Mac. 1st wk Jan
5 1,3(53
46,273
46,273
54,363
Cin. N. O. AT. P. 1st wk Jan
2(5.300
23,151
23,454
26,300
Ala. Gt. South 1st wk Jan 1
1 1,059
11,1(57
11,059
14,407
N. Orl. A N. E ;lst wk Jan I
9,038
10,383
9,038
10,383
Vicksb. A Mcr. 1st wk Jan
8,136
10.795
8,436
10,795
Vicks. Sli. A IV 1st wk Jan
98,2(;o
.1(5,308
98,260
116,308
Erlanger Syst 1st wk Jan
6,2 15
(5.(538
(5,245
6,658
Cin.Rich.A Ft. W.'1st wk Jan
102,122 1,183.684 1,130,324
95,968
Cin. A Spring'd December
47,248
41,(576
41.676
47,248
Cin.Wash.ABalt. 1st wk Jan
8,428
9,539
8,428
9,539
Clev.Akron ACol 1st wk Jan
327,719
345,1(51
31,292
33.682
Clev. A Canton November 1
351,982 4,580,969 4,181,117
381,253
Clev.Col.C. A Ind Decern 1 >er
5,770
4,780
5,770
4,780
Clev. A Marietta 1st wk Jan
18.736
Cceur d’Alene
[November.
(5,713
6,178
6,178
6,713
Col. A ('in. Mid Jlst wk Jan
57.569
57,5(59
57,73(5
57.736
Col.Hock. V. A T. 1st wk Jan
234,950
280,500
116,450
150,000
I)env. A Rio Or 2d wk Jan
1(5,700
28,675
20,200
35,475
Denv. A R. O. W. 2d wk Jan
25.895
18,922
Den. Tex.AGulf December
466,667
242,017
21,542
31,000
Det.BayC.AAlp. December
14.608
24,(534
30,231
11,982
Det.Lans’gA No. 2d wk Jan
7,816
7,81(5
17,493
17,493
Duluth S.S.AAtl. 1st wk Jan
104,197
86,418
104.197
8(5,-118
E.Tenn. Va.AOa. 1st wk Jan
7,925
6,628
3,541
4,241
Evans.A Ind’plis 2d wk Jan
23,560
12,789
28,404
14,959
Evansv. A T. II. 2d wk Jan
42,581
4 2,581
37,58 4
37,584
Flint A P. Marq. 1st wk Jan
23,979
23.979
23,793
23,793
Fla. R.ANav.Co. 1st wk Jan
31,500
6,899
16,318
17,500
FUW.A Den.City 2d wk Jan
844,544
24,747 1,254,424
27,271
Georgia Pacific . 4th wk Dec
31,844
31,844
31,337
31,337
Gr. Rap. A Ind.. list wk Jan
2,392
1,581
1,581
2,392
Other lines
jlst wk Jan 290,284 282,109
282,109
290,284
Grand Trunk ...|Wk. Jan. 7
420.967
316,(KM
34,377
36,725
Gn.Bay W.ASt.P November.
234,646 2,928,277 2,274,171
356,270
Gulf Col. AS. Fe. December
46,011
47,663
46,011
47,663
Hous.ATex.Cen. 1st wk Jan
144,288
144,341
14,028
15,692
Humest’n AShen November.
Hl.Cen. (Ill.ASo) December 1,110,900 1,112,72! 11,820/32 10,77n\187
159,126
106,872
15,892
10,540
Cedar F. A Min November.
868,578
84,855
765,251
82,235
Dub.ASiouxC. November.
576,249
625,525
54,843
67,128
Ia. Falls AS. C. November.
41,03(5
46,513
46,513
41,036
Ind. Bloom. A W. 1st wk Jan
449,098
411,631
61,297
30,540
Ind. Dec. A Spr December
32,397
40,077
32,397
40,077
Ind. A St. Louis 1st wk Jan
402,173
252,459
38,624
35,492
Jack. T. A K. W. November.
44,934
45,535
45,535
44,934
K.C.Ft.S. AGulf. 1st wk Jan
31,390
25,844
31,390
Kan. C. Sp. A M 1st wk Jan
25,844
2.680
2,(580
4,289|
1 st wk Jan
4,289
Kan. C. Cl. A Sp
920,697
71,4(51 1,074,590
88,259
Kentucky Cent December
5,649
5.649
6,910.
Keokuk A West 1st wk Jan
6,910
1,807
1,005
1,807
1,005
Kingst’n A Pern 1st wk Jan
36,995
47.052
November.
Knoxv. A Ohio
68.429
62,683i
36,244
33,314
Lake E. A West 2d wk Jan
........
..
-
-
]2d wk Jan
41,098
39,388
94,031
500,371
60,565
17,771
302,915
33,071
57,887j
94,872!
November.
Lykens Valley.
8,392!
Mar. Col. A No.. 1st wk Jan
7,244'
Mar.Hough. AO. November.!.
Memphis AChas. 1 st wk Jan
*Mexican Cent
2d wk Jan
*Mex. N. (all Ins) December.
34,530'
121,000
152,625
|2d
Mil.L.Sh.AWest
wk Jan
Milwaukee A No. 1st wk Jan
28,310
Minneap. A St. L. December.
Min.St.Ste.M A A November.
Minn. ANo. West. '4tli wk Dec
Miss. A Tenn
1st wk Jan
Mobile A Ohio
December.
140,124
|2d wk Jan
list wk Jan
76,168
December.
Oregon Imp.Co October...
Oreg. R. A N. Co. 3d wk Dec
Pennsylvania. ..{November.
Penn. Company.
431,819
103,391
4,735,154
14.495
53,566
14,638
283,045
219,039
20,782
17.759
84,532
454,789
29,179
522,435
58,165
84,971
37.933
592,335
32,505
61.369
45,900
60,465
4,856
2,989
36,478
104,996
154,399
32,630
12,909
149,184
113,351
694,459
4,856
718.859
8,392
57.569
34,530
221,100
1,777,491
57,901
36*478
191,220
1,743,450
59,055
12,909
14,495
1,505,098 1,549,619
12,837
25,101
540,092
19,879 1,504,557
44,016
8,652
7,161
7,161!
8,652
242,182 287,024 2,485,232 2,224,459
Nash. Cli. A St.L. ‘December.
275,4822 229,916 3,055,917 | 2,400,772
740,903
66,701 i
750,875
New Brunswick. November.
73,7 i
N.Y. Cen. A H.R. December. 3,229,021 2,945,063 36,296,024 32,(551,015
419,243
12,473 |
441 ,(561 1
N. Y. City A No..! Wk. Oct. 8
11,358
cN.Y. L. E. A W ‘November. 2,183,249 2,018,513 122.434,301 21,017,360
N.Y. A New Eng. November.
448,465 416,771 4,021,048 3,782,925
38.585
46,049
20,060
24,431
N.Y. Out. AW... 2d wk Jan
N.Y. Sus. AW... December.
135,645 112,545 1,395,181 1,129.439
132,590
194,81 (5
67,157
99,598
Norfolk A West 2d wk Jan
494,786
499,9(50
47,237
N’theastrn (S.C.) November.
45,297
Northern Cent’l. November.
542,158 493,150 5,722,641 5,016,809
267,821
299,480
Northern Pacific 2d wk Jan
126,809 131,766
..
tained.
Roads
L. Rock A Mem. 1st wk Jan
October.
2d wk Jan
2d wk Jan
2d wk Jan
2d wk Jan
$
$
228.423
Lou. A Mo. Riv.
Louis.Ev. ASt.L.
Louisv. ANashv.
Lou.N.A. A Chic.
Louisv.N.O. AT.
1886-7.
...
to Latest Pates.—The latest railroad earn¬
ings and the totals from Jan. 1 to
for all the railroad companies
1887-8.
21,004
20,782
Long Island
Extra copies are sold to subscribers of
50 cents each, an i to others at $1 per copy.
Gross Earnings
$
$
Investors’ Supplement contains a complete exhibit of
the Funded Debt of States and Cities and of the Stocks and
Bonds of Railroads and other Companies, It is published
on the last Saturday of every other month—viz., January,
March, May, July, September and November, and is fur¬
nish'd without extra charge to all regular subscribers of the
Chronicle at
1886-7.
15,149
17,759
Lehigh A Hud... December.
The
Chronicle.
Jan. 1 to Latest Daiem
Roads.
........
Ohio A Miss
Ohio River
Ohio Southern
.....
7,206
62,672
.
141,549
14(5,(5(51
71,021
4,601
7,206
4,601
508,757
595,443
32,839
303,983 3,403,250 2,448,724
90,538 5,164,398 5,211,920
4,347,218 50,778,349 45,950,852
1,382,981 16,913,364 '14,118,258
1,092,250 12,954,754 10,836,385
30.811
26,513
16,922
326,177
326,276
28,300
Petersburg
November.
338,027 3,708,294 3,407,310
Phi la. A Erie
iNovember.
2,034,084 20,187,417 18,190,101
tPhila. A Read’g. November.
! 1,887,402 18,083,282 14,501,154
Coal A Iron Co. November.
Tot. both Co’s.. November. J4,320,891 3,921,540 38,270,699 32,691,255
69,978
34,989
55,161
Pitts. A West’rn 2d wk Jan
283,165
292,8(50
25,752
P’rtRoyal A Aug. November.
33,548
Pt. R’al A W.Car. November.
No. West. sys.. November.
So. West. sys.-iNovember.
Peoria Dee. A Ev. 2d wk Jan
...
R AW. P.Tcr. CoRich. A Danv 2d
Va. Mid. Div..|2d
C. C. A A. Div. 2d
Col. A Or. Div. 2d
WestN. C. Div. 2d
W. O. A W. Div. 2d
Ash. ASp. Div. 2d
wk Jan
102,875
wk Jan
33,850
wk
wk
wk
wk
17,3 0
Jan
Jan
Jan
Jan
13,750
13,350
2,175
wk Jan
2d wk Jan
Total all
Rich.A Peter8bg.
Rome W. A Og .
November.
November.
1ISt.L. Alt. AT.H. 1st wk Jan
.
Branches
1st wk Jan
St.L. Ark. A Tex ;2d wk Jan
St.L. ASan Fran. 2d wk Jan
St. Paul A Duluth 2d wk Jan
St.P.Min. A Man. December.
S.Ant.A Ar.Pass. December.
Scioto Valley
November.
Seab’rd A Roan November.
Shenandoah Val December
20,175
279,598
40,077
17,937
41,397
79,904
12.942
905,264
70,359
84.100
185,375
156,000
23,750
12,900
9,850
8,650
60,150
33,100
2(5,350
28,150
4,675
3,500
46,650
1.875
900
142,025
17,332
249,607
32,397
11,923
37,489
70.723
71,499
73,000
119,674
79,545
22.813
700,161
23,759
61,536
73,814
54,315
113,609
26,400
210,58 4
21,550
17,950
4,175
1,700
274,425
193,452
2,951,794
2,615,381
341,300
32,397
11,923
74,978
148,224
45,626
40,077
17,937
96,485
162,690
27,380
00 U J-u •ft
7,427,339
571,125
726,223
623,339
904,640
740,654
1,094,494 1,022,630
South Carolina
November.
So. Pacific Co.—
211,975 3,032.306 2,352,793
291,208
Oal.liar.AS.A. November.
578,637
7(55,9 4 8
57,359
76,914
Louis’a West.. November.
403,242 4,0(53,527 3,700,604
554,581
Morgan’s LAT November
14 4.785
15 1,990
15,79(5
13,157
N. Y. T. A Mex. November.
896,015
94,918 1,148,437
108,391
Tex. A N. Orl.. November.
783,290 9,1(55,2 89 7,672,825
Atlan’e system November. 1,044,255
Pacific system November. 2,597,696 2,1 17,351, 21,652,822 21,532,787
Total of all.. November. 3,641,951 2,900,641 33,818,109 29,205,612
So. Pac. UR.—
i
170,541 1,447,398 1,335,421
162,778
No. Div. (Cal.) October...
245,110 3,419,580 2,643,033
492,397
So. Div. (Cal.) October...
127,472 1,352,639 1,261,328
143,148
Arizona Div
October...
552,083
576,597
50,943
36,119
New Mex. Div October ...
73,616
69,7(53
9,(587
10,558
Spar. Un. A Col. November.
788,313
852,581
44,537
50,515
Staten Is.Rap.Tr December.
628,718
117,067 1,235,857
147,222
Summit Branch November.
222,767
282,958
117,343
145,181
Texas A Pacific 2d wk Jan
16,027
23,712
7,(556
12.474
Tol.A.A.A N.M’li 2d wk Jan
36,380
49,261
19,214
25,786
Tol. A Ohio Cent. 2d wk Jan
16,620
16,828
1(5,620
16,828
Tol. P. A West.. 1st wk Jan
Union Pacific... November. 2,597,585 2,351,431 26,313,8941 23,936,643
570,977
601,160!
(51,10(5
56,793
.
..
.
Valley of Ohio.. November.
wk Jan
Wab., E. of Miss October...
West N. Y. A Pa 2d wk Jan
November.
{West Jersey
Wil. Col. A Aug [November.
Wheeling A L. E.|2d wk Jan
a Wisconsin Cen.12d wk Jan
93,596
679,753
50,100
Wab. Western... 2d
.
98,959
74,006
15,529
44,929
c
After
167,163
17(5,086!
5,763,941
5,620,129
100,100
82,400
1,370,320
1,268,891
614,678
12,075
678,224
29,321
38,950
88,700
22,538
74,851
* Mexican currency.
leased roads operated on a pei>
{ And branches.
.
90,788
652,020
41,900
95,154
64,217
deducting earnings paid over to
centago basis.
tNot including
Central of N. J. in either year.
U Including Ind. A St.
a
Louis.
All lines included.
*
Earnings by Weeks.—The latest weekly
earnings in the foregoing table are separately summed up
Latest
Gross
below.
For
the second week
of January the comparison
is with
exceptionally good results last year, while in the present year
many roads suffered from the severe weather prevailing ia
the Northwest and Southwest ; nevertheless the statement
below shows again of 10'73 per cent on the 46 roads reporting.
THE
100
fid week of
1888.
January.
$
39,501
12,878
176,000
35,246
38,248
Buffalo Roch. A Pittsburg.
Cairo Vin. & Cliic.
Canadian Pacific
Chicago & Atlantic
Chicago <k East Ills
Chicago Si Ind. Coal
11,052
Chicago Mil. & St. Paul...
Chic. & West Michigan...
332,000
18,614
150,000
20,200
Denver A Rio Grande
Denver A R. Grande West
Detroit Lans. Si North
Evansville & Ind
Evansville Si T. II
Fort Worth A I)env. City.
Lake Erie & Western
....
11,982
4,24 L
14,959
17,500
33,314
41,098
17,771
Long Island
Louisv. Evansv. Si St. L..
Louisville A Nashville
302,915
..
Louisville N. Alb. A Chic.
Louisville N. O. A Texas
Mexican Central
Milwaukee L. Sli. A West
Milwaukee Si Northern...
New York Out. A West...
Norfolk & Western
Northern Pacific
Ohio & Mississippi
Peoria Dec. Si Evans
33.071
57,887
.
121,000
28,310
14,395
24,431
99,598
126,809
76,168
12,326
29,429
Pittsburg Si Western
Richmond Si Danville
102,875
Virginia Mid. Div
33,850
Char. C. A A. Div
Col. Si Gr. Div...
West North Car. Div
17,300
13,750
13 350
Wash. O. Si W. Div
Ash. & Spar. Div.
8t. Louis Ark. & Texas...
St. Louis & San Frun
2,175
2,100
41,397
79,904
12,942
145,181
St. Paul & Duluth
Texas Si Pacific’
Toledo Ann A. & No. Mich
Toledo Si Ohio Central
Wabash Western
Western N. Y. A Penn
12,474
25,786
93,596
..
Wheeling & Lake Erie...
Wisconsin Cent, (all lines)
50,100
15,529
44,929
*
Total (46 roads)
2,608,181
Increase.
1887.
$
27,875
$
11,626
3 2,649
148,000
31,295
37,643
6,591
345,665
229
28.000
$
Chic
13,665
989
33,550
2,626
2,170
6,899
36,244
39,388
14,638
283,045
32,505
45,900
104,996
32,630
15,911
20,060
67,157
131,766
71,021
16,922
31,989
84,100
23,750
12,900
9,850
10,601
’2,930
1,710
3,133
566
_£
Jg
£
Grand Trunk of Can.Gross.
Net...
Chic. A Gr. Trunk..Gross.
Net...
309,763
309,023
82,764
52,723
19,218
15,092
Dot. Gr. H. & M....Gross.
Net...
21,033
22,702
3,351,388
1,019,497
644,714
172,029
227,031
6,919
$
25,101
8,910
6,157
59,971
East Term. Va. & Ga.Gross.
Net...
Gross.
Net...
Scioto Valley
Gross.
70,723
Net...
18,912
4,371
4,957
5,147
4*596
Food.
Nash. C. A St. L
Gross.
Net...
5,560
18,775
10,100
4,400
3,900
4,700
8,650
1,875
37,489
79,545
22,813
117,343
7,656
19,214
90,788
41,900
12,075
Virginia Midland...Gross.
359
Net...
9,871
27,838
38,950
Net...
Col. A Green. Div..Gross.
Net...
8,200
West No. Car. Div..Gross.
50,041
on
1887.
Increase.
Decrease.
$
$
$
$
Prev’ly report’d (4 3 roads)
2,480,249
2,124,300
376,206
Burl. Cedar R. Si North...
Cairo Vincennes A Chic..
Central of Georgia
Cincinnati Jack. Si Mack
Cin. N. 0. & Texas Pac...
Alabama Gt. Southern
New Orleans A N. E
47,846
47,030
14,384
91,795
816
Vicksburg & Meridian.
Vicksburg Slirev. Si Pac.
Cin. Wasii. &. Balt
Cleveland Akron & Col...
14,467
10,383
10,795
11,059
9,038
Total of all
Gross.
Net...
47,248
41,676
8,428
9,539
0,713
Col. Si Cin. Midland
Col. Hock. Val. A Tol
Denver & R. Grande West
Detroit Mack. A Marq
East Tenn. Va. Si Ga
Flint & Pore Marquette.
Florida Ry. Si Nav
Fort Worth A Denv. City
Gnmd Trunk of Canada..
Houston A Texas Cent...
Ind. Bloom. A West
Kansas C. Ft. S. A Gulf
Kansas C. Spr. A Mem ..
Kansas C. Clin. A Spr
Keokuk A Western
57,569
15,275
11,975
2,960
86,418
9.101
104,197
42,581
23,793
37.584
14,000
9,419
282,109
46,011
46,513
290,284
47,663
41,036
Kingston A Pembroke
Little Rock A Memphis..
25,844
4,289
2,080
6,910
5,049
1,005
1,807
17,759
8.392
..
Marquette Hough. A Out.
Memphis A Charleston..
34,530
14,495
8,652
82,500
26,300
Milwaukee A Northern...
Mississippi A Tennessee.
Richmond A Danville
Virginia Mid. Div
3,300
6,141
17,779
4,997
23,5179
45,535
31,390
44,934
..
20,317
.
_
m
m
m
m
m
m
m
m
m
m
..........
Road.
Cairo Vin. A Chic
Gross.
Net...
........
3,536
1,586
1,491
15.800
13.500
12,000
11,700
900
22,900
1,221,350
737,357
432,233
183,011
600,802
288,738
162,233
241,437
200,819
88,365
196,353
399,901
136,101
126,006
92,891
143,19926,812
18,608
29,310
30,568
10,515
4,597
640.884 2,526,167 2,237,557
265,571 1,202,410
984,923165.380
42,165
10,551
8,555
2,859
/—April 1 to Nov. 30.—%
1887.
1886.
$
$
26,960
13,642
21,403
8,936
November.
1886.
$
67,488
18,224
63,092
6,211
*
.
182,259
147,039
86,442
67,516
Jfay 1 to Nov. 30.—,
18s 7.
$
477,866
1886.
$
425,345
101,913July 1 to Dee. 31.—%
1886.
1887;
184,777
/—
$
$
$
229,916 1,601,637 l,319,97(b
97,333
553,614
719,191
11,238
79,907
64,425
—November.
,—July 1 to Nov. 30.—%
275,482
119,236
19,772
.
Roads
Cin. Iml. St. I.. A C..Gross..Net...
Net...
;
Gross.
Knoxville A Ohio
Net...
5,477
1887.
1886.
$
1,152,018
459,985.
424,372
$
1,169,460
462,133
2,441,327
212,910
910,174
36,995
19,729
213,042
19,618
869,608
160,959
58,030*
$
$
220,182
76,696
515,621
217,727
47,052
24,321
208.129
ANNUAL
601
1886.
77,175
v
1,971,226
REPORTS.
5.546
Richmond & Danville Railroad.
(For the
1,948
10,000
3,100
2,300
1,408,429
$
Gross.
Net...
East Tenn. Va. A Ga.Gross.
3,023
4,856
$
-
year ending September 30, 18^7 )
Mr Alfred Sully, President, remarks that
comparing the business transacted by the company for
year with that of 1886, it must be barue in rani that
802
36,478
12.909
7,1 61
71,900
2,175*
764,367
316,351
24,906
1887.
1,609
1,261
20.782
67.304
29,867
54,893
61.278
26,513
52,541
7,182
9,760
$
354,892
169,108
113,075
28,280*
1887.
$
Whitebreast Fuel Co.Net
4,581
8,175
1,652
a
413,607
199,971
141,346
63,855
85,835
46,657
Net...
Fond.
Nash. C. A St. L
186
m
$
2,400,772
970,808
--Ort. 1 to Dec. 31.~
1886.
1887.
$
——December.
1886.
1887.
;
233.82^
70,51-*
$
$
3.055,917
1,361,214
/■
„
535
167
57,736
$
V..‘..Gross.
Cape Fear A Y.
8,090
0.178
97,333
.
1,024
8,436
119,236
November.
1887.
1886.
$
$
10,477
2,840
3,408
1,345
2,359
5,572
1,111
229,946
,
2,298
6,424
46,273
23,454
275,482
Wash. 0. A W. Div.Gross.
Net...
86 roads reaches
1888.
*
—Jrm. 1 to Dec. 31.—%
1887.
1886.
,
Net...
302.922
2,355,300
Char. Col. A A. Div.Gross.
4,818
6,572
2,808
3,454
5,979
-
£
3,146,705
951,434
564,306
124,889
$
December.
1887.
1886.
Foods.
Rich. A W. V. Ter. Co.—
Richmond A Danv.Gross.
Net...
1,200
3,908
296,772
378,553
Month and Fiscal Tear.
/
300
900
1,015,752
$
22,468,1629,039,470
2,354,586:
917,231
3,862,592
1,384,611
856,682
12,837
7,605
61,536
12,484
December.
1887.
1886.
$
$
<
32,441
Road.
12,086
102,272
7,448
54,363
26,300
63.168
Net...
252.881
of January.
76,345
Minn. 8. Ste. M. & A..Gross.
4,320
1,516
^
2,455,187
950,345
4,826,181
1,469,445
19,870
11,987
16,004
$
208,429
77,175
424,372
212,910
89,858
28,114
Eliz. Lex. & B. 8
700
r-Jan. 1 to Nov. 30.—s
1887.
1886.
,
220,182
76,696
515,621
217,727
110,634
48.168
13*43 per cent.
lsf week
$
3,500,
12,789
January the gain
November.
1887.
1886.
Mil. A St. P....Gross. 2,640,218 2,469,313 22,848,385
Net... 1,258,552 1,213,169 8,774,430
Cin. Ind. St. L. & C...Gross.
Net...
4,461
17,625
,
Roads.
605
116,450
16,700
14,008
3,541
[VOL, XLTL
Decrease.
3,951
Net increase (10 73 p. c.)-
For the first week of
CHRONICLE.
The report of
“in
this
when
the
Inter-State Commerce law went into
(April 1, 1887),
we were
operation
obliged by its provisions to lower the
to many local points to correspond with through or
competitive
rates. This has affected our earning-; hut, as
14,800 r
9.300
5,500
against this loss of revenue, we have had an increise of
2.300
200
2,500
business derived from an interchange with the East Tennessee
000
800
1,400
40,077
32,397
7,080
Virginia & Georgia system.
17,937
11,923
0,014
“In order to place ourselves in condition to transact this
2‘> 813
14,438
8,375
increased
business over the Western North Carolina road, we
161828
16,620)
208
have been obliged to make extraordinary betterments upon
Total (86 roads)
3,888,167 3,427,670
508,268
47,771 that property; but it is believed the re.-uIts will justify this
Net increase (13-43 p. c.)
1 400,497
expenditure, and we may reasonably look for largely increased
Including Indianapolis A St. Louis.
earrings from the E. Tenn. Vh. & Ga. during the coming year.”'
The earnings of the Virginia Midland Division have been
Net Earnings Monthly to Latest Dates.—The tables follow
$1,635,667,
an increace of $83 961.
The opeiating expenses
ing show the latest net earnings reported this week, the
returns for each road being published here as soon as received, and taxes have been $1,051,738, a decrease of $30,235.
This
but not kept standing from week to week. The first state¬ leaves net earniDgs amounting to $583,928, an increase over
ment includes all roads for the latest month and from Janu¬ the previous year of $114,200.
The operaiing expenses and
taxes were 64 per cent cf earnings against 74 per cent last year.”’
ary 1, 1887; following that we give the totals for the fiscal
The Columbia & Greenville Division shows: Gross earnings,
year on those companies whose fiscal year does not correspond
with the calendar year.
$559,467, being a decrease of $96,163, or 14*67 per cent; oper¬
ating expenses and taxes, $457,203, an increase of $16,405, or
Month an<l Calendar Tear.
3 72 per ctn ; net earnings, $102,264. The operating expenses
November.
/—Jan. 1 to Nor. 30.—,
and taxes were 81*72 per cent of the earnings.”
1886.
1887.
1887.
1886.
F >aels.
*
$
$
$
During the current year the Richmond & D mville Rail¬
CavoVin. A Chic
Gross.
Char. C. A A. Div
Col. A Gr. Div
West North Car. Div....
Wash. O. AW. Div
Asliv. A Spar. Div
*St. L. Alt. A T. II., M. Line
Bt.L. Alt. A T. II. Bre.hs..
gt. Paul A Duluth
Tol. Peoria A Western
rates
*
*
“
“
,—
.
“
63,092
6,211
80,258
Net...
67,488
18,224
135,957
40,434
24,130
1,335.755
545,827
Cape Fear A Y. V... Gross.
20,960
21,408
249,948
205,883
Net...
13,642
8,936
120,317
101,329
Net...
California Southern. .Gross.
*
699,918
228,316
595,546
123,412
650,290
20,747
road has become
the building of a
a party to a traffic contract which secures
road from Clarksvil'e to Oxford and also th©
building of a line from Oxford to Durham. Upon this latter
road, some 32 milts in length, the Richmond & Danville is to*
guarantee the interest upon the bonds issued at the rate of
January 21,
:$15,000 per mile, conditional upon the Richmond & Dmville
receiving a majority of the entire stock. This secures the
completion of a through line, to be operated by the Richmond
& Danville Ra'lroad, from Durham to Clarksville, and gives
the Richmond & Danville a line from Rileigh, via Durham,
to Richmond and West Point.”
While a large amount of money has been expended dur¬
ing the past year for betterments, improvements, equipments,
etc., of the Richmond & Danville, and also its leased lines, to
a greater extent perhaps than actually necessary, yet none of
this money has been expended except where true economy in
operation seemed to require it. The roadbed, station houses
and equipment have never been in better condition than at
tlrs date; and the net earnings for 1888 can be made to show
large increase.
The statement of earnings and expenses, and
account, for the past three years were as follows:
a
very
the income
1884-5.
From express,
$2,6 0.755
985,708
.
’
331,892
mails, Ac
Total
r
Interest on investments
$3,981,355
.
Total receipts
.
•Operating exp uses A: taxes
Net earnings
Percentage of exp. to earnings
$2,716,399
998,022
349,025
1,017.312
41
8,980
$1,152,991
$3,999,147
$4,012,028
2,121,553
$ ,355, 31
5C-05
...
Total
.
52-53
1881-5.
1885-6
1886-7.
$1,737,331
$1,8a0,475
$2,037,304
$323,133
$328,329
$370,413
*238,140
*28S,140
*213.360
48,331
20,3 0
60,000
210,000
22,5 9
780
91.350
60.000
260.001
466.500
469,5 .>0
$1,183.097
$1,407,65 3
$284,564
$422,817
$13,030
$87,193
106,139
92,420
.
780
85,8 O
.
Net surplus
97.881
Equipment qf R. A D. RR
106,235
Bi tteiments A. A- C. A. L. Rli
Total
.
Balance, surplus
Tmin interest was
780
91,070
G0,0u0
260,090
466,500
$1,482,518
$584,786
$78,722
114 532
56,608
43,203
Change of gauge
"
149,719,543
Freight (tons) carried one mile
Earnings—
28,347
including taxes.
1,002,353
$1,913,331
1,399,386
$293,703
$516,975
$1,299,33 2
Totvl earnings
Operating expenses
Net earnings
P. ct. of op. ex. to
$175,977
1,605.573
134,806
$190,382
1,080.333
Passengers
earnings (excl. taxes)
71-4
39-4
.
INCOME ACCOUNT.
93,350
77,759
$390,353
$594,734
$352,103
$353,910
Homing debt.
rest on
$513,975
$293,703
earnings
Total receipts
Deduct—
tntf i*t sr on bonds
»
1883-7.
1S85 3.
licecipls—
Rentals
923
5,910
55,260
62,595
$122,415
$108,231
def. $17,878
Balance.
$172,319
sur.
Lehigh Talley Railroad.
(For the year ending November 39, 1SS7.^
The annual meeting was held in Philadelphia and the report
submitted.
The pamphlet is not yet ready, but, fro n the
Philadelphia newspaper reportsi.be results for 18S > 7 have been
compiled for the Chronicle in comparison with previous
years. The Lehigh Yahey reports never give any balance sheet.
Allusion was made to the settlement of the dispute over the
West Line tract at Jersey City, which has come into posses¬
sion of the company.
Extensive terminal facilities are
being
The Roselle Sz South Plamfield Riilroad,
which is to connect the L-'high Valley and Jersey Central, is
well advanced toward completion, and will be ready for the
rails by March 1. Tne branch between New Boston and Hazle¬
constructed there.
completed early last spring, affording direct commu¬
sylvania Schuylkill Valley and short¬
ening the distance between Hazleton and Wilktsbarre about
fifteen miles,
Rapid progress is being made on the short line
upon the Wilkesharre Mountain, which will shorten the route
for through traffic and avoid the present heavy giades.
A
steel steamer of 2,500 tons capacity has been contracted for as
an addition to the company’s
fleet on Lake E ie and will be
launched in February.
To pay for these extensions and
ton was
Less expended for—
'Construction of R. Ar I). RR.
'was
Freight (tons) carried.
Freight
Ma i and miscellaneous,
OQ.4
283,746
6,363,436
1,954,540
241,338,204
7.498,140
1,320.034
2.2 ->7,8. Y
INCOME ACCOUNT.
Net receipts
Disbursements—
Interest on inert. bonds
Interest on deben bonds
lute*est on limiting debr
I lit: on N. W. N. C. RR. bonds
Rental R. Y. R. A: C. RIt
Rental Piedmont RR
Re 'tal North Car RR
Rental A. A: C. A. L. RR
OlQ
770
318,779
Total disbursements
$1,890,475 $2,037,304
53-20
1883-87.
1885-83.
x/1
Passengers carried
Passengers carried one mile
In
202.170
$1,737,331
.
$2,046,434
1^,54 7
2.231,483
RESULTS.
OPERATIONS AND FISCAL
Other income
17,792
.
operations and fiscal results for the pist two years were
follows:
18S6-7
1885-6.
$3,992,491
The
as
N. r
EARNINGS ANI) EXPENSES.
Earn in qs—
From freight
From passengers
101
CHRONICLE
THE
18S8.J!
$221,017
$63,517
$3 23,958
$93,859
charged, in tho income account, but
$219,922
$334,304
no
interest
paid.
Pittsburg Railwc. r.
t
(For the year ending Septemb sr 30, 1887 .j
The report of Mr. Walston H. Brown, President, says tha
according to the contract with shippers of coal over this road’
the freight was regulated by the price which coal sold for at
Buffalo and Rochester. “ The average price received as fn ight
to Buffalo was *82 0.2-100 cents, and to Rochester *92 31-100
cents. This contract lei m nates on the 1st of January next. The
cor tracts for the s le of coal are made for one year, generally
from May 1.
At the time these contracts were entered into
the p’ice of coal was considerably lower than it is at present,
and wre agreed to charge as freight from January 1 to May 1 $1
per ton to Buffalo and $1 15 to Rochester, being 17 98-100 cents
more to the former p’ace and 22 09-100 cents to the latter than
we received on the portion of the contracts delivered during
last yaar. It is only after the 1st of May next that we shall
rec ive the full benefit of the laige rise in the price of coal
which has taken place since last year. Our own coal was sold
at the average price of $1 04*10 100 per ton at Buffalo; the
price at } r< sent is fully fifty cents ptr ton -higher. As, not¬
wit hstanding this considerable rise, bituminous coal is still
very low compared to anthracite, which sells at $1*50, ai d lowrer
than at any otln r shipping port, there is every probability of
present prices being maintained. They are sufficiently high to
yield with our irerrasing tonnage very eatisf. Ciorv results.
Buffalo Rochester &
nication with the Pem
improvements $1,200,000 Easton & Amboy bonds
during the year.
The income account for the year -was as follows:
were
sold
INCOME ACCOUNT.
1884-85.
$
$
*
2,059,541
2,048,201
2,011,171
650,385
1,660,234
682,093
1,331,531
1,013.747
1,584,081
4,370,160
4,031,735
30,103
40,250
Interest on debt
General, taxes, float’g inf., loss on
Morris Canal, depreciation, ifcc..
Dividends*
Total disbursements
Balance, surplus
1885, 10 on prof, and
in 1887, 10 on prof, and
x
In
5 on com
;
in 1886,1 0
■$
$
on
4,643,999
410,772
prof, and 4 on com.;
on com.
Rapid Transit Co.
Staten Island
(For the year
$
5,054,771
4,101,985
»
—
!
■
4,400,263
Total net income
Disbursements
1386-37
1885-33.
ending September 30, 1887.^
manuscript has been
The annual report of this company in
furnish* d ihe Chronicle, and the following
obtained from it. Contracts for the masonry
information is
and the super¬
Bridge were let to responsible
and this work is progressing satisfac¬
of the Arthur Kill
structure
builders and contractors,
be completed, and rail connection
Jersey shore probably attained
so that the same will
between Staten Island and the
torily,
and construc¬ by the first of June, 1888.
The following is a summary showing gross earnings, opera¬
rolling stock
$399,517, making a total of $027,729. A large amount of ting expenses and net earnings of the railroad lines, Staten
additional rolling stock is needed to do the business now press
Island and Bay Ridge ferry systems.
1837.
1833.
ing on cur road, and at least ten miles of new side tracks
“There have been f xpended in improvements
tion during the last year $228,211, and for
,
,
will have to be laid to enable our trains to be run economically.
The Rochester & Pittsburg Coal & Iron Company will also
net-d funds to pay for about 4.G0O acres additional coal lands
it has contracted to purchase, and for the plant necessary to
Earn. Op. Ex. Net Earn.
a>
$
$
Gross
,
Gross Earn. Op. Ex. Net Earn.
$
$
$
3837973 270,499 110,479 298,314 221,752
73,862
353.735 257,341
93.120 389,511 417.902Loss 28,390
84,273 17,257 89,937 98,235 Loss.8,237
B.KidgeF’y. 101,533
Railroad.
..
,S. I. l'errv..
develop them. To provide funds to p*y for the expenditures
Total
812,2 77 618,420 22 3,857 778,6 93 737,889
already made and yet to be made, and for the conduction
INCOME ACCOUNT.
should it become necessary of an independent road between
Increase.
1886.
1887.
Howard and Clarion Junction, where we now use the tracks
$61,131
$77 8,093
$812,277
Gross earnings
731,136
of the New York Lake Erie & Western Railroad, your direc¬ Operating t xpeiucs..
618,420
tors have decided to create a general mortgage for $10,000,000
$176 900
$46,957
$223,857
Net expenses
of five per cent bonds havi g fifty years to run, of which
57,110
161,936
223,605
Fixed charges
$6,000,000 will be reserved to take up the same amount of
$
$114,979
$
Deficit
present outstanding securities.”
115,231
' 252
Hurplus
The leport of the Rochester & Pittsburg Coal & Iron Com¬
The $223,305 fixed charges represent—
pany, of which this company owns the entire capital stock,
The rental of the Staten Isl-nd RR., which covers the interest
states that the coal produced during the year amounted to
on $300,000 7 % bonds and diva, on capital stock of S. I. RU.
833,973 tons; and the coke manufactured and shipped The interest on the $1,005,000 let mortgage 3 per cent Staten
40,204
...
..
Decrease.
112,716
..
..
..
.....
...
amounted to 203,000 tons.
To the 11,500 acres of coal
land owned by the company in the
Punxsutawney region are to be added about 3,500 acres of
coal land at the Beechtree Mines, making 15,000 acres of coal
land
now
owned
by the
company.
Island Rapid Transit RR. Co.’s
bonds
$1,500,000 of the issue of 2.500,000 2d mort¬
gage 5 percent bonds of the 8. I. R. T. RR. Co
The interest, on
Intelest on land mortgages
Total
$80,600
G0,000
78,495
4,510
$223,305
THE
102
CHRONICLE.
fVoL. XLAI.
-
=
=
<
•••-—
—=
,,i—
.
„
The remainder of the second mortgage issue, repres?nting ings as $2,717,000 and the net as $2,336,000, the latter figures
$1 ,000,000, being still unexpended, the interest charge on the being a palpable error, and intended as the gross earnings for
1886.
eame will not appear until next year’s account, when the
boats, bridges, &c., now in ptocess of construction, will be
Dayton Fort Wayne & Chicago.—The brard of directors of
completed, for which and other improvements the same is the Dayton Foit Way ne & Chicago Railroad held a meeting
th:s week at which the affairs of the company were discussed
being applied.
with a view to reaching an amicable arrangement by which
all debts growing our of the Ives complications may be reached.
GENERAL INVESTMENT NEWS.
President Loomis and Henry S. Ives both said after the meet¬
Atchison Topeka & Santa Fe.—Stock of this company ing that the situation w as shaping itself satisfactorily, but that
advanced on the reports of the successful placing of about lo definite statement was yet ready to be made public.
$6,000,000 collateral bonds with a syndicate represented by
Georgia Terminal Railroad Company—Under the general
Messrs. Kidder. Peabody & Co., and the announcement that
railroad law of Georgia, a charter has been issued to E. P.
the Atchison Company has supplied its monetary needs for
1867 in full.
The Boston Herald reports that unofficially it is Howell, S. M. Inman, Henry Jackson, Alfred Sully. Thomas
Smith, Issac L. Rice, John A. Rutherford, Emanuel Lehman,
learned the bonds sold are j ait 0s and part 5s. rather more of
Calvin S. Brice, Samuel Thomas, John H, Inman, George S.
the latter than cf the foimer. The 6s are part of the author
Scott, T. M. Logan, Pope Barrow arid James White, for the
ized issue of $15,000,000, due D(c. 1, 1911, of which $12,142,Georgia T* rminal Railroad Company, with a capital of
000 are aheadv outstanding. The collateral against them is
The charter recites that it is issued for the
110 for 100.
The 5s are in addition to the issue of $6,500,000, $1,000,900.
purpovses
constructing
and operating a railroad “from
of
as providfd in circular 59.
They are gold bonds, ar d mature Atlanta to such point as
may be selected on the East
Feb. 1, 1937. The price is private, but
*
*
there Tennessee
Virginia & Georgia railroad, the Atlanta &
is said to be a provision in the sale that the company will ask
Charlotte Air-line Railway and the Central Railroad, all in
for no more money this year.
the county of Fulton.” The Georgia Terminal Company is
The Boston News Bureau says in regard to the bonds on road
organized for the purpose of building a belt line around
owned in Illinois:
Atlanta and building a union passenger depot.
The
recently noted issue of $729,540 6 per cent Chicago Santa Fe &
California bonds is styled the Chicago Santa Fe & California, I’ekin
Division. These bonds will not appear on the market, but will be put in
the Atchison’s treasury. The Atchison purchased the Chicago & St.
Louis railroad, from Chicago to Pekin, 150 miles, and incorporated some
95 miles to Ancona in its main Chicago line. On the whole line was a
first mortgage at the rate of $10,000 per mile. The style of these bonds
has n^ver been changed, but the Atchison Company has deposited securi¬
ties to the value of $1,500,000 with the Boston Safe Deposit Company,
Indiana Bloomington & Western.—Negotiations are still
pending with the Cincinnati Sandusky & Cleveland Co. It is
expected that an agreement will shortly be reached, and
some modifications of the reorganiziiion plan will be sub¬
mitted for approval.
This probably accounts for the recent
delay in carrying out the proposed arrangements.
guaranteeing principal and interest to cover the old bonds. On the Pekin
Louisville New Albany & Chicago.—This company is
division the rate has been increased to $14,000 per mile, and these bonds
represent this difference, which becomes an asset of the Atchison.
offering its consolidated mortgage bonds in exchange for its
Baltimore & Ohio.—The effort to have the Baltimore & second mortgage bonds maturing Feb. 1, 1888, and holders of
than three-fourths of the outstanding seconds have
Ohio fetockhcldeis issue $5,000,000 of preferred stock met with more
agreed to the exchange. Terms can be ascertained at the
a defeat on the 14th, owing to the failure to obtain a suffic¬
Farmers’ Loan & Trust Co.
iently large vote .if the stockholders. The State of Maryland
Mexican Central.—The Boston Transcript says: “ The per¬
and the Baltincore City stock was not voted in favor of it.
The syndicate is secured for their advances to the company centage of operating expenses to gross earnings in November
by collaterals held, and so far as tht y are concerned it does not was 56." Applying this to the approximate gross earnings for
appear that they care particularly whether the stock is issued December and we may figure the Mexican Central’s year thus:
to them
or
not.
Supreme Ciurt, where the question of the right of Congress
to giant the privilege of building the bridge over the Staten
Island Siui d will be considered. New Jersey appeals from
the decree granted by Justice Bradley last August on the
ground that the decree is erroneous in that it deprives the
State of its private property for an alleged public me without
just compensation, and deprives the State of its property
rights guaranteed to it by the fifth amendment to the Con¬
stitution of the United
Stat^g.
Canadian Pacific.—This railway has placed $3,750,000 five
bonds in London at 98}>£, covering the new
Bault Ste. Marie branch road that leads to Minneapolis.
per cent mortgage
Cedar Falls & Minnesota.—This Company at Dubuque,
Iowa, has filed its ai swer to the Dubuque & Sioux City com¬
pany’s application to be relieved of its lease of the road. It
denies the charge of fraud and all other allegations made, and
alleges that the Illinois Central assumed the lease of the Cedar
Falls & Minnesota Railroad ; denies that
the lea e for twenty years instead of the
the Central assurmd
whole term of forty
years, and alleges that the present directors of tie plaintiffs
do not manage it for its best interest, but in the interest of the
Illincis Central. On denying fraud the defendant pleads that
the plaintiff is not the party in interest, aLd that the action
is barred by the statute of limitations.
Chester Talley.—This road, one of the Reading’s leased
lines, W88 sold out by mortgage trustees this week and bf ught
in for the Reading for $555,000. The mortgage debt is $350,000
and the unpaid interest about as much more.
Chicago & Eastern Illinois.—Chicago & Eastern II inois
stockholders will hold a special meeting in Chicago, F< bruarv
9, “for the purpose of authorizing the issue of the compain’,
stcck by exchange or otherwise for the a<qui ition cf the
stock of other railroad companies whose tailroads may be
advantageously made a part of its system.” This is sup¬
posed to mean that the Chicago & IndianaCoal Railroad stock
will te acquiied by the Eastern Illinois, which will exchange
share for share.
The two roads have virtually been operated
as cne system since January 1, 1888.
Cincinnati Indianapolis St. Louis & Chicago.—Thegross
and nt t < arnings and charges for Novembt r and from July 1
to November 30 were as below given :
Novel nber.
1 886.
18S7.
Gross earnings
Op. ex. and taxes
Net earnings...
Fixed charges, less
miscel. income
Surplus
...
-—Jnly 1 to Ncv. 20,
1887.
mos.—
1886.
$220,182
148,486
$208,429
136,169
$1,169,160
732,326
$1,152,018
716,608
$71,696
$72,260
$437,134
$435,410
33,333
47,925
166,665
239,625*
$38,363
$24,335
$270,469
$19,5,785
Valley & Toledo.—The published state¬
earnings of this road for 1887 gave~the gross earn-
Columbus Hccking
ment of the
,
Jan. I to Nov. 30
December approximate
Year
“
This
approximation
earnings
Expenses
Gross
.
.
Expenses.
Gross.
Official—
Baltimore & Ohio-Staten Island Rapid Transit.—The
case of the State of New Jersey against the Baltimore & Ohio
Kailn ad C< mpany has been appealed to the United States
Net.
$4,346,523
$2,164,168
$1,882,355
533,000
298,500
234,500
$4,879,523
$2,762,668
$2,116,855
compares
with 1886 earnings
1887.
1886.
$4,870,523
2,762,668
$31857,706
2,453,089
Netearnings
,...$2,116,855
“Reduced to American currency,
as
follows:
Inc'ease.
$1,021,817
309,579
$712,238
$1,404,617
1887 net earnings proba¬
bly will not be far from $1,635,000, against $1,102,071 in 1886.
In addition to this are subsidy receipts amounting approxi¬
mately to $245,000 for the year, or $190,000 American cur¬
rency, giving approximately $1,825,000 applicable to fixed
charges, which figure at about $2,100*000, including every¬
thing. By “everything” is meant that accrue 1 interest on
the unassented 7s and back coupons never presented for cach¬
ing is included; indeed, everything in the way of interest on
its securities to which the company is liable is comprehended
in this $2,100,000, which is as near as the total can be figured
at present and practically is correct.
The outstanding unas¬
sented 7s amount to less than $750,000, accrued interest upon
which amounts to about $60,000.
The company has paid two
coupons,
one-half in cash and one-half in scrip, and three
entirely in cash. The dt licit in meeting interest for the year is
comparatively small, and will not interfere iD the least with the
payment of interest in full on all the secutities entitled thereto.’'
Track-laying on the Mexican Central’s Guadalajara branch
increased four miles during the last ten days of December,
and a total of sixty six mihs have been laid to date. Grading
ahead of track had progressed 19j^ miles Dec. 81.
Nashville Chattanooga & St. Louis.—The statement for
six
months ending December 31 shows
December and the
the following:
T>e. im'er.
1887.
Gross earnings
Operating expenses....
Net
earnings
1886.
$275,482
$229,946
156,246
132,613
$119,236
$97,333
$62,067
$61,421
/—Jnlu 1 lo Dec. 31.—,
1887.
1886.
$1,601,638
882,447
$1,319,969
766,356
$553,613
$355,586
35,578
$391,164
13,448
4,568
$719,191
$370,918
71,185
Total
$75,515
Surplus
$43,721
$65,989
$31,344
$442,103
$277,088
Interest and taxes......
Improvements
$162,449
Oregon Railway & Navigation.—The lease is finally
accomplished, and the Northern P. cific and Union Pacific
companies are bound to tho comract jointly and s verally for
the 6 per cent guarantee, erch bearing half of the burden.
Portland & Ogdensbnrg.—At the annual meeting of the
Portland & Ogdensburg Rulro d, January 17, the following
directors were elected: Sao uel J. An e eon, Horatio N. Jose,
Weston F. Milliken. Charles H. AmsdeD, Stephen R. Small,
Francis Fessenden, Frederick N. Dow, W. W. Woodbury,
Sidney W. Thaxter and C. J. CbapmaD. The gro?s earnings
for the year were $353,566 and thenet earnings $81,104, against
$121,782 last year.
THE
January 21, 1S58 j
CHRONICLE.
103
—i
mortgages placed out of $9,000,000 have been foreclosed, and
they not for reasons of deficiency of value.” President Palmer
of the Northwestern Mutual Life Insurance Compauy, after loan¬
ing and reloaning over $42,000,000 on Western mortgages, says:
We have found this a safe and desirable mode of making in¬
gtlcpovls and Jloctuucnts.
WESTERN FARSI MORTGAGES.
“
The
was
following article from the Evening Poet of January 18,
vestments.” What more is wanted ?
In Bradst reels of November 12, 1887,
written by Mr. Charles N. Fowler, President of The Equit¬
To the Editor of the Evening Post
Mr. Edward Atkinson
gave the result of a somewhat extended investigation, which dis¬
cussed over 200.000 loans averaging $900 each, or a total invest¬
ment of $180,000,000, of which $75,000,000 was still
outstanding,
able Mortgage Company :
:
Sir :—So much has been said
recently about farm mortgages 119,000 mortgages having been paid off. From the information
considering the amount already in gleaned, he was bound to conclude that the number of foreclos¬
them, it would seem wise to continue the discussion until the ures did not exceed 1,000, or one-half of one per cent, and that
public becomes thoroughly informed upon the subject. While the foreclosure account had a profit in its favor. That his infor¬
mation was reliable I have not the least doubt, as I am persona ly
most people have purchased them upon the advice of friends,
there are many who have personally interested themselves sufti- familiar with the affairs of one of the leading companies in
ciently to investigate the financial strength of the respective this country, and they more than justify his conclusions.
companies and the character of those in charge of them, and have Nor need we stop here. In a recent report abroad, these
relied upon the guarantee of financially sound institutions under words are to be found, referring to this class of securities : “ The
what they believed a prudent and experienced management. obligations of this class of companies during the past 100 years
There are others who, out of great caution, have attempted to in¬ have exceeded £200,000,000, or about $1,000,000,000, of which
vestigate the subject thoroughly and to ascertain whether the obligations every bond and every coupon has been paid in full as
business wras sound in principle; such is the investigation de¬ it matured.” Again, in his “ Dictionary of Political Philosophy,*
manded by the public. It demands a generalization. Individual Henry D. McLeod, Esq., B. A. F. S.
in speaking of these landcredit companies, after an exhaustive examination of their history,
experience goes for naught.
If it should turn out in this investigation that the amount that says: “Their obligations have maintained through all crises,
has actually been invested in farm loans has already reached hun¬ monetary, war and revolutionary, a steadiness of value, far be¬
dreds of millions, that the number of individual loans has passed yond any other public securities whatever, either Government or
into hundreds of thousands, that the business has continued for commercial.” From past experience, then, and this array of facts,
upwards of a quarter of a century, and that the loans have proved are wTe not entitled to conclude that land credit bonds are to be,
and have aright to be, considered second to no other security in
more satisfactory than the average of any other class of invest¬
ments, the place of farm mortgages or debentures based on them this country ?
is certainly at the head of American securities.
The average rate of interest now received upon first-class rail¬
The savings banks of New Hampshire, Vermont and Rhode road bonds, considering the price paid for them, cannot vary much
Island, though trust institutions under the supervision of their re¬ from
per cent, while that derived from farm mortgages, or
spective States, have always been privileged to invest in these debentures based upon them, is 6 per cent, when issued by strong
loans; while the savings banks of Connecticut, Massachusetts, financial companies with bona-fide cash capital, or nearly 50 per
Maine and New York, where they are also under the supervision cent more than, the amount received from railroad bonds, and,
of the State, have not.
The great life insurance companies of when issued for ten years, will average with the life of the railroad
Hartford have had this privilege, while those of New York have bond you purchase.
All things considered, then, absolute safety,
not.
Reference is here made to these facts for two reasons: rate of interest, and time to run, these securities are entitled to
first, because people often ask why the savings banks and the in¬ first place.
surance companies in those States where they are prohibited by
In The Evening Post of November 1, one calling himself by
law do not invest in farm mortgages, thinking that if farm loans the friendly name of “Philo” related his experience with a farm
were a good investment, they certainly would do so, not know¬
loan, and a day or two after his friend “Americus” uttered with
ing that they are prohibited by law; second, because without a unction an “Amen” to all he had said, as if he, too, had been
knowledge of these facts, the replies by letters, coming from par¬ quite as avaricious for a high rate, and as imprudent or unfortunate
ticular States, would strike the reader as only a partial invest¬ as “Philo” had been in his selection of a channel for the invest¬
ment of his money.
igation.
In the New York Times of December 27, we
Desiring to know the true condition of the business and what are called upon to listen to the experience or observation of an ins
experience actually proved statistically, I addressed a letter of in¬ dividual case by one Frank Wilkeson. We have none of the facts
quiry to about eighty savings bank in New Hampshire and Ver¬ concerning these particular loans, and therefore they should have
mont asking them these questions :
(1.) How long have you no weight with the reading public. The borrower may have beta
been investing in Western farm mortgages? (2.) To what ex¬ out of health; he may have had no ability; he may have had no ex
tent have you held them ?
(3.) How do you regard them ? To perience as a farmer ; he may have been a drunkard ; he may have
not one of these inquiries did I receive a disparaging answer, a had nothing to farm with in the way of implements ; the land
may
few of them being as follows : Mechanics’ Savings Bank, Nash¬ have been actually poor.
In any of these cases, the loan
ua, N. II.: “ fifteen years ; $200,000 to $400,000.
Our present should not have been made and would have been refused by an
holdings and continued requests for more, prove our opinion of experienced loan company, only to be taken up by
their desirability.” Nashua Savings Bank, Nashua, N. II.: “ six some
loan
agent and palmed
off on “Americus” or
years ;
$599,000. Desirable investments when judiciously “Amicus,” because they wanted a higher rate than any
placed and carefully looked after by permanent mortgage or trust conservative institution would give them. The agent, having
companies.” Laconia Savings Bank, Laconia, N. H.: “About gotten his commission, in all probability is in some other locality,
8 years.
Have out $200,000. Good if well selected.” Cheshire ready to pick up the same kind of loans, lecause he can get some
Provident Institution, Keene, N. II., “ten years ; $418,503. Re¬
Philo” or “Americus” another loan of the same character,
gard them as safe and desirable investments when placed with with a good commission, that being all he cares for, inasmuch as
proper care and judgment.” Passumpsic Savings Bank, St. his interest in every case ceases with the transaction.
These in¬
Johnsbury, Vt.: “ Five years. Now hold $200,000. First-class dividual cases only illustrate the greed or folly of the investor,
investments.” Fitzwilliam Savings Bank, Fitzwilliam, N. II.: and no more characterize <5r constitute the business of land-credit
“Seven years ; $45,000.
As among our best securities.” Mil¬ bonds as carried on to-day than a single citizen characterizes or
ford Savings Bank, Milford, N. II.: “ For last nine years ; $600,- constitutes a city, a single countryman a nation, or a snowflake a
000 to $800,000.
When properly placed through responsible winter. An intelligent reader wants a generalization. He de¬
parties, we regard them as among the safest and best investments mands a conclusion drawn from such a mass of facts as to be1
we can make.”
Bristol Savings Bank, Bristol, N. II.: “seven clearly above and beyond the influence or effect of any one of
years ;
$300,000. Good when made through proper agents. them.
Well qualified, reliable and honest.”
But too much time has already been spent in exposing the
Lebanon Savings Bank,
Lebanon, N. II.: “ About 8 years. About $300,000 to $400,000. scarecrows these correspondents have attempted to erect in this
Is among the best security we know off.” Brattleboro Savings field of investment. They, like all correspondents, must have a
Bank, Brattlebore, Vt.: “ twelve years, $475,000. All good.” reason, undoubtedly, for the interest they are taking, and it must
Sullivan Savings Institution, Sullivan, N. IT.: “thirty years
be attributable to one of the four sources from which all appeals
Large amount, $452,675. First class.” And so on we might go to the public emanate—philanthrophy, filthy lucre, individual
through the list. Four of the great life insurance companies enterprise or the ruin of competition. It could not have been
have used these words : (1.) “ The experience of twenty years philanthropy, because all of them lacked either candor or learn¬
with this chv.s of securities has been entirely sat isfactory, and we ing ; and if any such lofty motive impels them to appear in
regard them as a very safe and desirable security.” (2.) “So print, they should first develop the former or largely increase the
far as our experience has extended it has been entirely
satisfactory latter. If it were filthy lucre, and their words were measured by
so that we are
to-day placing more money in such investments the price paid, their statements are presumably of no value. If
than in any other class.” (3.) “ The investments of this com¬ individual enterprise, their conclusions should be carefully scruti¬
If ruin of competition, then beware of the wares they
pany upon real estate in the West have been eminently satisfac¬ nized.
tory. We have about $10,000,000 at present in farm mortgages, have to sell, for they simply love the public for what they can
and should be very glad to increase the amount if applications make out of it.
If, perchance, there is anything unsound in the farm-loan busi¬
satisfactory in their character were offered us.” (4.) “ It has
been the policy of this company to confine its loans in the Wes, ness, there is no class so deeply interested as those who have large
exclusively to farm mortgages. Our experience has justified u> capital in the stock of the institutions now engaged in it, and no
in continuing to loan a
large amount of the funds of this com¬ one should be as anxious to learn of any threatened danger. Nor
pany upon farm securities in the West.” This company has -hould any one be more cognizant or daug< r, if any there be,
probably from time to time invested $20,000,1)00 to $25,000,000 than those who are properly conducting their business, by having
upon securities in Western States.
Within twenty years tin- it under personal supervision and examining every loan thew
■ffStna Life of Hartford have loaned and reloaned $33,000,000, and make before a dollar has been paid upon it.
If this rule of busi¬
state that in all particulars it lias been a
satisfactory channel. The ness, and a knowledge of the fact that the farming lands of the
Connecticut Mutual of Hartford says : “ Only two of the farm United States for farming purposes are worth, according
as
an
investment,
that,
,
“
THE CHRONICLE.
104
to
the
locality,
on
an
average
from
$20 to $30
per acre, and the consequent fixed rule of never loaning
than
one-third of what, after a personal inspection,
farm
is considered reasonably worth, and under no
only
more
the
cir¬
the most favorable, exceeding $15 per acre, be
adopted, in no case can the risk to the investor be great, or even
anything, when the security he purchases is made under these
rules and is guaranteed by a strong financial institution.
What has been here said pertains only-To improved farm mort¬
gages; therefore, since some might suppose that all Western mort¬
gages were included, particular pains are now taken to say that
the statistics given do not include loans taken on city, town or
manufacturing properly. The one*-is based upon the intrinsic
value of the land as established by statistics, the other upon the
mechanical or commercial value, and the great distinction should
be carefully noted,
It is to be admitted that groat pains should be taken, especially
in these times, in selecting institutions whose capital is actual,
having been paid up in cash, as distinguished from franchises,
privileges, good will, patent rights, inflated real estate, and 1 O
Us.
The institution should, without doubt, be a corporation
which makes the investment of money its business, and has a
capital large enough properly to conduct its affairs, and make it
responsible for any delinquencies—which, in a word, is financialty strong, capable, and honestly managed, offering absolute prolection to all its bondholders.
On the other hand; the channel
employ'd should not be an individual, who might change his hab¬
itation, prove dishonest, or die. Nor should it be a linn, as the
care of the securities would greatly suffer by the death, or mis¬
fortune, or dishonesty of any of its members. Nor should it be
a bank, that might be likely to unload a short time borrower upon
an Eastern investor through a loan on his farm.
Inaword.it
should not be an individual, firm, or bank that offers supicious
rates, appealing to the credulity or avarice of the public, virtu¬
ally asking it to wager the amount of the loan that it is safe.
There are several institutions that have been incorporated for the
propel' conduct of t his business, and, in proportion to their finan¬
cial strength. they are as much entitled to the confidence of the
public as the First National Bank or the Chemical National Bank
of New York, inasmuch as the business in which they are engaged
is a legitimate department of banking, and no new thing or
experiment, but the natural outgrowth of gradually changing
conditions ; and their usefulness has been appreciated by a liber¬
al patronage of the public.
One hundred years ago this very month, Gen. Rufus Putnam
conducted westward the march of .the Ohio Company, whose
comprehensive plan and beneficent purposes were the fruitage of
thescho’arly and philosophical mind of Manassoh Cutler. There
were prophets of ill omen then, as there ever have been and ever
will be, who characterized the enterprise as “ Putnam’s Paradise”
and “ Cutler’s Indian lleaven.” Notwithstanding all the ridicule
and croaking, however, the “ Campus Martins,” the first home
of the pioneers, was built, Marietta, Ohio, was located, and the
Western Reserve began its history with such imii as Benjamin
Tupper, Samuel 11. Parsons, Winlhrop Sargent, Ebenezer Sproat,
Hafiield White, Return Jonathan Meigs, Arthur St. Clair, James
M. Vanillin, Abraham Whipple and Manasseh Culler.
AVithin this one hundred years an exhaustive examination will
show that the fathers and sons of the East have loaned to their
sons and brothers in the West upwards of $300,000,000 of money,
receiving for its use from one-half more to double that obtainable
in the East, and with such scrupulous care and regularity lias
this enormous principal been returned^ that the fathers and sons
of the East are to-day loaning more money to their sons and
Brothers of the AYest than ever before.
But while the money of
the East has been so safely and profitably invested, tliemse of il
in the West lias been only the second factor in turning the great
Stales of Ohio. Indiana. Michigan, Illinois, and Wisconsin—and
with them is now turning Iowa. Missouri Dakota, Nebraska,
and Kansas—into one mighty agricultural garden. Indeed,through
the w ealth of the East the development of the AYest has lx en set
forward at least fifty years.
While the far sight and prudence of
the East will always impel it to send its money AYest, to share* in
the profits of its great prosperity, its warm sympathy, growing
out of parental affection and brotherly love, would not withhold
it should there, ever come an hour of adversity.
But from the present prospects, such a time will never come to
a great portion of the agricultural AYest, as our relatives through¬
out the great States of Ohio, Indiana, Minnesota, Illinois, Wis¬
consin, and I had almost said Iowa, have, by their energy, intel¬
ligence and strict integrity, and through the fertility of the soil,
not only quite paid off the enormous debt they once incurred at
10 per cent interest. and upwards, but have created a sinking
fund, which, in their own hands, has already brought money almost
The great States of Minnesota, and Dakota
loan Eastern level.
(entitled to Statehood), Nebraska, Kansas, and Texas, within
whose borders 12,000 miles of railroad have been built within
the past year, almost absolute proof of limitless agricul¬
tural wealth, with soil and climate unparalleled by any other
section and a citizenship second to no other in the United
States, can use Eastern capital at good rates with a large profit to
cumstances, even
themselves.
So vast and enormous have the transanetions become that here,
as in all other lines of commerce, organization has been the out¬
growth of necessity, and the financially sound, honestly and
capably managed investment companies in land-credit bonds, will
not only prove reasonably profitable to the stockholders, but will
bring to the doors of Eastern capital an absolutely safe invest
ment with a good income, while they secure for the A\rest tinmuch needed capital incident to it's marvellous development.
Chas. N. Fowler.
New York, January
17.
[VOL, XL\ I,
OMAHA WATER WORKS.
The six per cent mortgage bonds on this
the American AArater AYorks Company, have
properly,* issued by
recently been listed
Exchange. A pamphlet giving full par¬
regard to the loan, and the property on which it is
secured, contains the following :
The Omaha AATater AYorks were constructed in 1880 and 1881,
at the New York Stock
ticulars in
but the
extraordinary growth of the city during the past seven
years necessitated a corresponding increase in the plant and facili¬
ties of the company, and the bonds thus far issued have provided
miry
1st, 1888.
There have been two million dollars
($2,000,000) of these bonds
issued, of which four hundred thousand dollars ($400,000) are
held in trust by The Farmers’ Loan &
York for the purpose of retiring a like
Trust Company of New
amount of old bonds now
outstanding.
The mortgage
also authorizes the issue of additional bonds to
the amount of two million dollars ($2,000,000) as maybe required
from time to time after January 1st, 1888. for the purpose of pay¬
and other
thousand
dollars ($500,000) can be issued prior to July 1st. 1888, nor ex¬
ceeding one hundred thousand dollars ($10o,000) in any one
month, and no bond* ran be timed.unless the actual net income j)f
the com pan}/ is sufficient to pay the interest thereon as well as on all
bond* previously issued, and the trustee is not authorized to deliver
any bonds until satisfied that these conditions have been complied
ing the actual cash cost of extensions of water mains
property purchased, but not more than five hundred
with.
Is is safe to
assume
that self-interest will prevent the com-,
puny from making any extensions which will not yield a satisfac¬
tory revenue.
Under these stringent conditions, it will be impos¬
sible for the company to issue bonds in excess of construction ex¬
penditures, or beyond the amount upon which the net earnings
will pay interest.
If all mortgages contained,such iron-clad pro¬
visions" there would be no defaults in the payment of interest.
From statements furnished by its officials, it appears that tire
company entered the year 1888 with an assured gross income ap¬
proximating $220,000, and net earnings of $175,000, and there is
no doubt that the increase during the year will be at
least
$50,000:
so
The expenses for the year 1888 will he
that the company will have a large
in the vicinity of $45,000,
surplus remaining after
paying all fixed charges.
For the year ending December 31st, 1887, the number of con¬
sumers increased 1,186, as compared with 556 for the year 1886,
audit is confidently expected that at least 2,500 new water takers
will be added during the year 1888.
Up to the first of January. 1888, the city of Omaha had taken
836 hydrants, which yield tin* company an annual rental of
$54,710, and it is probable that at least three hundred (300) more
hydrants, which will produce a rental of $18,000 per annum, will
be ordered during the year 1888.
As the city of Omaha is required by its contract with the
water company to rent thirteen (13) fire hydrants on every mile
of extensions ordered by the City Council, and pay therefor $60
per hydrant, or $780 per annum per mile, the company will re¬
ceive from that source alone sufficient- income to pay interest upon
the bonds issued for such extensions, and the income from private
consumers will average at least twice as much more, so that the
increased earnings, will, without doubt, equal double the interest
upon the amount of bonds issued for extensions.
The contract
with the city of Omaha for fire hydrants does not expire until
August 28th, 1908, but its renewal at that time, on terms satisfac¬
tory to the company, is not a matter of doubt, because a city as
large as Omaha cannot be without fire protection for one minute,
and the right of the company to maintain its pipes in the streets
and supply water to private consumers is perpetual.
The company has an exclusive contract to supply the city of
South Omaha for the same time and upon the same terms as pro¬
vided in the contract with the city-of Omaha.
The company also has a contract for seventeen years to supply
the Stock Yanis Company at South Omaha, where some of the
pork-packing establishments in the
largest
located.
United States arc
Already two of the packing houses are each using one million
gallons a day, and two other large establishments will shortly take
as
much more.
The demand from
this source alone will soon be five million
gallons of water per diem, which, at the contract price of four
cents per thousand gallons, will yield a revenue of $200 a day,
Sundays included, or $73,000 per annum.
The income from all sources at South Omaha for the }Tear
1888 will doubtless amount to $80,000, although the company in
its statement of present earnings estimates
Taking as a guide the earnings of the
it at only $50,000.
water works at Kansas
City, and other growing cities, the following estimate of net earn¬
ings of the Omaha AYater AYorks for the next ten years appears
to
be within conservative
limits.
Estimated net earnings for 1888,
4
4 4
1889,
4 t
< c
< c
1890
i i
4
4
i 4
6 <
(4
.(4
i
t
%
4 4
(i
i 4
i 4
4 4
c c
i
•
c
4
4
4
1891,
1892,
1893,
1894',
$200,000
240,000
290,000
340,000
395,000
455,000
515,000
1895
i 4
( c
4 4
1896,
(l
(i
4 4
1897
675,000
780,000
January 21,
U83.]
THE CHRONICLE.
105
There is
authorized issue of these bonds is limited to
$4,000,000, the interest charge can never exceed $240,000 per
no better water West than that furnished
by the Missouri
River, and the supply is all that could be desired. I believe the
bonds issued by this company are good, and have no doubt that
annum.
The annual interest charge
on
the two million dollars an}7 one desiring to make an investment in them will do so if they
($2,000,000) of bonds outstanding January 1st, 1888, is one hun¬ come here, see the city and examine the works, as there is no better
system of works in the United States, aud the rapid growth of our
dred and twenty thousand ($120,000) dollars.
Omaha is now a city of one hundred thousand population, as city is constantly enhancing their value.
Yours truly,
compared with thirty thousand (80,000) in 1880, and like Kansas
F. B. JonNSON, Cashier.
City continues to grow with unabated rapidity, and there is every
indication that within five years its population will be at least two EXTRACTS FROM
LETTER OF A. IT. WYMAN,FORMERLY TREASURER
hundred thousand (200,000).
OF THE UNITED STATES, AND NOW VICE-PRESIDENT
This wonderful growth and the enormous increase in the con¬
OF OMAHA NATIONAL BANK.
sumption of water in the city proper, and the large supply neces¬
sary to meet the demands from South Omaha, have required the
Omaha, Nebraska, November 8th, 1887.
company to establish a new plant,at a place on the Missouri River
In
respect to the Omaha Water Works and the bonds upon the
some five miles above the location of the old pumping station,
where it has purchased eighty-five (85) acres of land, and is con¬ same issued by the American Water Works Company, I do not
structing a large pump house and extensive storage and settling hesitate to say that the management of the works is regarded as
basins. The new plant, upon which a large part of the work has thoroughly efficient and entitled to confidence. The company has
been done, will be in operation early in tiie summer of 1888, and a franchise which has a considerable time to run, and is regarded
The plant, although heretofore sufficient for
will be of sufficient capacity to meet the requirements of a city as veiy valuable.
the needs and in good condition, is being greatly enlarged and im¬
of four hundred thousand (400,000) population.
Work has been already commenced on new pumping
Omaha now ranks as the third city in the pork-packing business proved.
ih the United States, and it is generally believed will soon occupy stations and settling basins, which, when completed, it is stated,
the first place. Its importance as a commercial centre is shown will be capable of supplying a city of 400,000 people, and all of
by the heavy bank exchanges at the Clearing House, the same the work done by the company is reported to be of the most sub¬
being in excess of those of Columbus, Indianapolis or Den¬ stantial and permanent character, and on a scale to meet the
future wants of the city.
ver, and nearly equal to Cleveland, Detroit and Minneapolis, and
It is understood that the net earnings of the company now
largerthan those of any New7 England city except Boston and
amount
to much more than the interest upon the bonds at present
Providence, •- and greater than the combined exchanges of the
banks at Portland, Maine ; Worcester and Springfield, Massa¬ issued, and considering the anticipated growth of the city (includ¬
ing South Omaha, which is also to be supplied by these works),
chusetts.
it is certain that the earnings of the company will grow larger
These bonds have been admitted to the regular list at the Newr
York Stock Exchange, and will thus have the advantage of a each year for many years, and it is estimated by those in position
to judge that within five years the earnings will be doubled.
ready market and be an available collateral.
It is understood that the net income for not less than five years
Attention is invited to the certificate of thatMayor and other
is to be applied to the extension of the works, and that any issue
city officials, and letters from prominent Omaha bankers.
of bonds beyond the present issue can, under the provisions of the
trust deed, be made only after it has been shown that an amount
Omaiia, Nebraska, November 10th, 1887.
equal
to any increase has been expended upon the works, and
The undersigned respectfully represent that The American
that the income is sufficient for the payment on all bonds.
If
Water Works Company, the successor of the City Water Works
these conditions are complied with, and the funds faithfully and
Company of Omaha, is operating the water works which supply
the city of Omaha in accordance with the provisions of the con¬ economically applied, as it is believed under the present manage¬
ment they will be, it would seem that the bonds of the company
tract with said city, as contained in Ordinance No. 423, passed
would be a safe investment.
by the Common Council of said city June 11th, 1880, and sub¬
A. U. Wyman.
sequent ordinances amendatory thereof, and that in our opinion
the water works are being operated and maintained by said com¬
pany to the satisfaction of the municipal government and the
Wabash.—The time for the deposit of bonds in the Centra
people of the city of Omaha, and that the most harmonious re
lations exist between the city and the company.
Trust Company has been emended to February 6 in conse¬
W. J. Broatcii, Mayor.
quence of the delay in furnishing the engraved certificates.
Wm. F. Beciikl, President Common Council.
After that date, a penalty of 2 per cent on the par value of
J. J. Gallic an, Chief Engineer Fire Dep’t City of Omaha.
bonds deposited will be required.
Mr. O. D. Ashley, one of the Purchasing Committee, says
merchants’ national bank.
the
Omaha, Nebraska, November 21st, 1887.
deposits have been very large throughout the week,
Replying to your inquirv about the bonds of the American averaging about a million of dollars in amount per day, and
Water Works Company, would say I consider them a reliable that bonds enough have already been secured to warrant
investment.
the anticipation of entire success.
The engraved certificates
The company is well managed ; has an exceptionally favorable
will be re *dy next week, and these will bring in many dep sits,
franchise, and a supply of water equal to the best in quantity and
Mr. Ashley in giving bis own views says: “I regret very
quality.
much that some of the second mortgage bondholders are dis¬
The citizens are very friendly to the company, and one needs
satisfied with the arrangement for their mortgages. The new
no better evidence of the success of the enterprise than the
rap¬
mortgage will, in my judgment, be made more desirable than
idly increasing earnings.
the old. because the grasp of the mortgage is to be upon the
I consider the security good now and constantly improving,
whole system fast of the Mississippi River, and because it will
and am sorry that I have no stock in the company.
be less per mile.
Yours truly,
Now, what practical good can the opposition of holders of
Frank Murphy, President,
a
small amount of second mortgage bonds accomplish or
even of a large aim unt ?
They can obstruct and delay and
THE NEBRASKA
NATIONAL BANK.
make expense, no doubt; but what then?
No dtcree can be obtained by the second mortgages under
Omaha, Nebraska, November, 7th, 1887.
foivcbsure proceedings, in my judgment, until the respective
Replying to inquiry concerning my opinion of the Water
Works Company of this city, I would say that I was somewhat claims of the consolidated mortgage and the 7s of 1879 upon
IIow
familiar with the affairs of the original company at the time of rolling stock and 'terminals have been adjudicated.
its formation and up to and immediately following the time its long will this take?
Then, su> pjse the d crees obtained without rolling stock
first plant was completed and accepted by the city.
My knowl¬
and
with disputed terminals, what is to he done with the first
edge since of its business and operations is limited ; but 1 have
always considered the prospects of the company excellent, and mortgages in the long interval ? The Great Western 1st mort¬
their franchise a most valuable on ?.
gage matures August 1 this year for $2,509,000,
The Decatur
It supplies a good service to its patrons, and the certain great & East St. Louis falls due in 1889, and the two first mortgages
in Ohio & Indiana in 1890. These four mortgages with funded
future of the city guarantees a constantly increasing revenue.
The present management, so far as my observation extends, is debt bonds and ecip belonging to them and overdue cou*
good, and such as to inspire confidence and good will with the pons amount to something like $11 000,000. Is it believed
that holders of one or two millions of second mortgage bonds
community generally.
can pay this amount, and if they could, would they not also
Yours, etc.,
bn obliged to pay c ff the second mortgage held by the Tiua
II. W. Y'ates, President.
Company, say four or five millions more ?
“But no plan can be fomiulated at all by the Defense Com¬
THE BANK OF COMMERCE.
mittee until they can show how they are to get control, and1
Omaha, Nebraska, November otli, 1887.
there is net a step which they propose to take which is not
To whom it may concern :
full of difficulty and complications.
“I do not dispute the right of any bondholder to re ject our
Regarding the credit of the American Water Works Company,
operating the Omaha Water Works, I desire to say that I consider plan; I am only trying to show the fallacy of doing so unless
it A 1.
The company pays cash for all material and labor, and ihe way is clear to a bettc r arrangement.
is very popular with all the people of our
city.
“Reorganization, in ray opinion, is not practicable except ,
Water works with a good franchise such as this company has, through the Purchasing Committee, who hold the equity of
in a city of over one hundred thousand
people, and with the prob¬ redemption upon the entire property. All schemes will fait
abilities in my mind of reaching two hundred thousand in six to which do not recognize the power of this committee to outbid
eight years, cannot fail of success under proper management. and to hold against all competitors.”
As the entire
■-
-
“
“
“
>■
THE CHRONICLE
106
COTTON.
glue CommjertiaX Jimea.
Friday, P. M., Jan.,20, 1888.
EPITOME.
COMMERCIAL
Friday Night,
[Vol. XLVI.
Jan. 20, 1888.
The Movement of the Crop, as indicated by our telegrams
from the Souttrto-niglit, is given below.
For the week ending
this evening (Jan. 20),‘ the total receipts have reached 105,403
bales, against 145,741 bales last week, 159,308 bales the previous
severely wintry. The “blizzard” week and 188,824 bales three weeks since, making the total
which swept over the Northwest blockaded railroad trains receipts since the 1st of September, 1887, 4,396,002 bales, against
4,213,641 bales for the same period of 1886-7, showing an in¬
several days and caused the loss of many lives. It finally crease since September 1, 1887, of
182,361 bales.
extended down the Mississippi Valley nearly to the Gulf, and
Thurs.
Fri.
Total.
Mon.
TYed.
Tnes.
Sat.
Receipts at—
has retarded the movement of the cotton crop. There is at
969
833
639
5,512
487
Galveston
1,298
1,286
the close the prospect of milder weather.
The strikes in the
Indianola, Ac.
Pennsylvania coal regions make, apparently, little or no New Orleans... 1,598 18,514 5,851 7,781 3,731 1,210 38,685
The weather has continued
......
......
......
progress toward adjustment, but no serious scarcity of coal is
felt. The opening of trade for the spring season is under
Mobile
Florida
394
394
adverse circumstances, and is therefore slow, but prices are well
maintained for such staple goods as have not been subject to
Savannah
786
9,345
3,938
5,898
speculative influences, and
a
comfortable feeling pervades
mercantile circles.
The speculation
in lard for future delivery has been active
at fluctuating values.
The opening was depressed, and on
Tuesday morning a panicky feeling at Chicago was followed
by a sharp decline her***, since which values have been gaining
Strength. Lard on the spot also declined, but partially recov¬
ered, and to-day was fairly active at 7 55c. for prime city,
7*70@7*75c. for prime to choice Western, 7,80o. for refined to
DAILY CLOSING PRICES OF LARD FUTURES.
.
Sit turd'ii. Mond’u
7'(Jli
7*03
7-72
7-7-1
7-81
7-77
...
...
...
...
...
7-87
7*92
7-99
7’85
7-91
7 96
Tnesd'y. 1 Yednsd'y. Thursd'y. Fr idai
7-52
7-59
7 05
7-70
7-7G
7-82
7-53
7 02
7-(>7
7-74
7-78
7*82
7-00
7-07
7-73
7-80
7-87
7-91
Bruns wT’k, Ac.
7-05
7-73
7*79
7-85
7-92
7*97
Pork declined
early in the week, in sympathy with Western
markets, but closes steadier; mess, $15(3) $15 25; extra prime*
Cutmeats have favored
$12 75@$13, and clear $16®$18.
buyers, but close active and firm; pickle I bellies, 734@7%c ;
ehoulders, 6%@63^c., and hams 9^s'^10c.; smoked shoulders,
and hams ll@ll}^c. B ef and beef hams remain
quiet and nearly nominal. Tallow firmer and active. Stearine is quiet at 8^0. Oleomargarine is quoted at 6c. Butter
is lower at 21(334c. for creamery, the outside figure for Elgin
fancy; Western extra selling at 31@32c. and extra firsts at 27
<330c. Cheese is quiet; State factory, full cream, 10^(3
juad skims 4(310c.
The speculation
in Rio coffee has reflected a pretty full vol¬
ume of business,
but under various unfavorable phases of
foreign advices prices show a marked decline, to-day showing
a further reduction.
Cotton on the spot lias been freely sold
.at drooping values, and to-day No. 4 Rio was placed at 17c.
Rio options close d this afternoon with sellers as follows for
delivery in 1888:
l.VOOe. I May
1 I -30c. I Juno
13'l>Oc. (July
iTeb
March
13‘Sue. I .Sept
13 35c. | Oct
*.12730c*
-3‘2'SOe. Nov
12'2<>e-
12*40c
| Aug
12‘OOc. | Dec
!!l215cRaw sugars have been depressed and close at some decline,
without leading to any revival of business. Fair refining
Cuba is quoted at 534c., and Centrifugal at 5 15 16@6c. for 96
deg. test. There is also a marked decline in molasses which
sold to-day at 233gC. f°r 50 deg. test. The auction sale of teas
On Wednesday went off at very steady prices.
The speculation in crude petroleum has been fitful. There was
13 05c.
April
Tuesday to 8534c.. followed by a recovery, clos¬
ing to day ai 91
Spirits turpentine has been dull,
steadier
at
but
closes
Rosins are fairly
41j4@42e.
active at $1 10(3)$1 15 for common to good strained, and tar
a
decline
on
is firmer at $1 95.
1,969
1,812
1,344
......
......
......
......
1,096
1,189
1,276
Royal,Ac
Wilmington....
207
873
301
301
287
511
1,879
Wasli’gton, Ac
.
1,224
Norfolk
129
129
1,623
1,134
1,086
1,015
5,246
8,279
10,527
5,813
3,581
4,337
1,060
2,130
1
.
...
-
1,381
1,520
906
1,107
893
1,189
618
New' York
236
8S6
1,580
Boston
401
478
600
West Point, Acs
325
205
281
790
5,692
3,938
559
Port
618
407
805
4,337
Baltimore
81
30
10,403 28,713 16,058 16,386 11,555
oo oou
730:
Philadelphia,Ac
Totals this week
37
9
173
105,403
to-night, and the same items for the corresponding periods
sales reach 1,750 cases, as follows: 800
1886 crop, Pennsylvania seed leaf, 10(315c.; 300 cas-s
1881 and 1885 crops do., 9(314c.; 200 cases 1886 crop, Dutch,
ar
Th is
Jan. 20.
Galveston
Week.
Exchange shows more life. Yesterday and to-day
there were large speculative dealings in ingot copper, with
prices advancing briskly.
The sales to-day were 1,100,000
Ibe. at 16 20(gl6 25c. on the spot, 16’15@ 1630c. for February,
The Metal
16*45(316 70c. for April (the most active month), 15 70c. for*
June audio 40(315 50j. f<»r July. Tin was lower with sales of
$0 tons for M-*rch at 34*10(334,15c.; quoted 3634(337c. on the
Spot. Lead was firmer with sales of 50 tons for February at
4*85c., and 4 9234c. bid for March. Spelter is steadier at 5%. I
Pig iron firm but quiet.
St}).
585,150!
Bruns w., Ac
..
P. Royal, Ac
Wilmington
1, 1886.
1888.
40,916
630,689
1
1887.
103,316
......
62,662 1,322,232
181,274
19,913
697,300
24,177
313,660
11,576
8,987
385,478
47,999
389,403
37,526
94,492
93,485
'
.
33,042
41,728
305
171
124,435
13,135
14,174
3,521
432,664
252,000
60,959
57,179
7,419
226,676
42,689
9,127
50,670
21,000
7,300
31,191
19,889
303
21,377
9,094
9,800
14,128
14,381
105,103 4,396.002 1 55,881 4,213,611
971,331
994,960
11,178;
4,601
395,375!
13,155j
W.Point, Ac
New York....
5,813
Boston
3,581
1,337
471;
71!
7,105.'
405,891!
39,720;
4,193;
3,220
53,098j
17,634j
1,060
Totals
j
156,1184,437!
129
PhiTdel’a, Ac
Week,
301
8,279
10,527
...
Since Sep.
1,879
Wasb’t’n, Ac
Norfolk
i
801!
21,546!
759,018 17,160
370'
50,567!
352,2251
6,000
394
9,315
3,938
5,898
...
This
18,816;
38,685 1,346,587
178,561
5,692
Florida
Baltimore
!'
.]
Mobile
Charleston
,
1, 1887.
5,512
...
New Orleans.
18,564i
233,388
In order that
comparison may be made with other years, we
give below the totals at leading ports for six seasons.
Receipts at— j
Galvest’n, Ac
New’ Orleans.!
Mobile
j
...!
Savannah
Chariest’n, Ac j
Wilm’gt’n, Aci
Norfolk
j
Acj
W’t Point,
All others....i
18S8.
1887.
5,512
38,085
Tot. this week!
Since
j
9,315
6,199
2,008
8,v 79
10,527
19,156
1885.
i
1884.
1883.
t
12,271!
5,833
62,662;
•10,993;
17,100
7,131
4,075
13,974
13,155;
7,105!
8,370
2,933!
36,056
5,717
9,630
6,463
1,579
12,317
4,661
10,193;
15,099!
155,881
105,403
1886.
18,810;
8,987!
5,692
-1
8,373|
6,1 is!
.
2,170!
110,310!
.
9,959
30,731
12,575
5,132
11,760
8,728
1,593
.
51,398
8,978
12,8 41
8,629
3,585
11,625
15,07-1
14,335
2,940
1«,116
93,911
101,535
136,400
17,607
3,319
if 1978,1121 1051,697 3862,207 si 18,031
includes Indianola; Charleston includes Port Royal, Ac.;
Sept. 1 ! 1396,002 1213,641
Galveston
Wilmington includes Moreh’d City, Ac.; West Point includes City Point, Ac.
The exports for the week ending this evening reach a total
of 176,837 bales, of which 126,226 were to Great Britain, 13,675
to France and 36,936 to the rest of the Continent.
Below are
the exports for the week and since September 1, 1887.
Week Ending Jan. 20.
Galveston
Great
BriVn. France
7,768
40,388
....
New Orleans..
11,220
Conti¬
Total
nent.
Week.
4,503
17,587
69,105
12,361
Charleston
....
....
Wilmington
1 17,r04
I 6,600
nent.
09.832
West Point,&c
New York
Boston
Baltimore
1
....
Philadelp’a’&c
Total
1886-7.’
19 254
2,230
158,058
30.129
12,480
""193,505
22.789
139 601
68,377
6,395
36.079
110,851
1,975
1,062
180,099
142.002
433,783
1.900
98.997
22,691
3.7^0
79,031
36,336
77
5.011
1.538
7,149
55,445
2,175
58
2,233
32,576
12,123
13,430
14,688
4,703
.
•
.
.
......
....
205
5,400
....
300
7,683
Total.
201,982
890,196
41,746
3,440
364,943
2i2,579
12,0 6
1,334
12,123
13,736
22,570
4,870
1,334
..
Norfolk
*
4,024
218,070
434,350 194,030
Conti¬
267,810
3,446
......
....—
Savannah*
Total
Great
Britain. France
41,740!
Mobile
Florida
1887, to Jan. 20, 1888
Exported to—
From Sept. 1,
Exported to—
Exports
from—
fair demand, and
fl40@|*75.
Since
Tnd’nola,Ac
Savannah
Stock.
1886-87.
1887-88.
Receipts to
cases
$@llc.; 100 cases 1886 crop. New England Havana, 13(326c\;
100 cases 1886 crop, State Havana, 6(320c.; 100 cases 1886 crop,
Wisconsin Havana, 7@l0c., and 150 cases sundries, 7@2^c.;
also, 450 bales Havana, 60c.@$l 10, and 250 cases Sumatra,
of
last year.
Kentucky tobacco has been dull, the sales for the week
aggregating orly 200 hhds., mainly for export. S ed leaf in
1,338
......
905
707
470
2,066
Charleston
*
Jan
160
1,115
For comparison we give the following table showing the week’s
total receipts, the total since September 1, 1887, and the stock
the Continent and 8’40c. to South America.
February deliv'j
March delivery
April deli very..
May delivery...
June delivery...
July delivery...
1,880
1,360
184,124
149,2.9
269,950
97,001
•
•«.
••••••
21,231
....
1,595
150,291
126,226
13,675
36,036 176,837 l,1773.4. 7 262,544
880.929 2.916,880
76.P60
22.748
53.<>?5 152.3*9 1,730.-86 368,136
698.527 2.817.219
Includes exports
from Brunswick.
THE
1888.]
January 21,
CHRONICLE.
In addition to above exports, our
The
telegrams to-niglit also give
on shipboard, not cleared,
at the ports named.
We add similar figures for New York,
which are prepared for our special use by Messrs. Carey, Yale
& Lambert. 24 Beaver Street.
the following amounts of cotton
us
On
Sales
Great
Britain.
©
<
o-c®5-
®E
oaj®»*
30 o
Shipboard, not cleared—for
20,458
12,500
15,410 | 19,601
5,500
4,600
3,042
22,000
!
New Orleans....
Mobile
Charleston
Savannah
Galveston
Norfolk
New York
Other ports
5,000
None,
3,000
None.
None.
None,
3u0
1 11,200
1
4,818
i None.
!
6,000
12,000
None,
j
.......
Total 1888......
Total 1887
Total 1886
1 0lher
ancc.^ Foreign
France
±1
85,100
18,710
3 x-
Total
■L0Ul1'
i
|
4,940
None, i
3,700
3,000
60,409
325,069
12.500
35,499
31,528
75,192
30,303
33,179
13.200
19,300
16,613
24,000
None. ;
None, j
11,300
15,000
115,950
:
® ®
761,269
Strict G od Ordb ary
;
Low Middling
Strict Low Middling
Middling.
Good Middling
Strict Good
10'»1G
Fair
Sat.
Ordinary
IN
Strict Ordinary
74
8h
9-10
Good Orduiarv
Strict Good
Ordinary
Low Middling
Strict Low Middling
9H,0
ION
107,0
ion
ion
Middling
Good Middling
Strict Good Middling
Middling Fair
Fair
UN
1 1 1*2
12 N
STAINED.
Sat
Good Ordinary
Strict Good
84
10
ION
HF>io
10" io
liN
,10-8
1 0 78
,11 *8
11 1*2
12
11210
lu;U
11
.12
GULF.
i
ION
;104
{11
i'l 1 N
Midddug
7:‘l
t
8:;1<1
t
8;'1G
:
]<>N
1 1 ‘10
l-'ho
1 1 '10
1 ho
-
O**
Oi
8N
8-la
9 ho
!>4
ION
10",6 10ho
lo*N
ION
11N
11
11 h
11 N
12 N
12 h
10:14
11N
Hv>, 45
9 h
9 *
h*.
"•Vi
84
•'
Middling
-4
'
-V;
84
•'
ioi10
,
SPOT MARKET
|
CLOSED.
Mou
.
Quiet
ill
"ui«
8_N
10
*'16
to 4«
io:q6
7N
y’’l6
i 1
<
10
,
Firm
>8
SALES OF SCOT AND TRANSIT.
I
Lx-
'
j port,
i10 adv
Tues. Quiet
.
.
'<v N adv
Dull \i> ljj dec...
..
Thurs Steauy
I’ri-.-.Q't&s’y'a;
....
....
....
4oadv
....
Total.
....
■Drevioua to that
®
^
M >-* n *-*
99-9
ci
C
-1
®
•sj
99
00 GO
®
©
•
co
JO
ION 6
00
o
®
M
^
o
X)
4D
<
09
1
\ Con- Spcc-Jransum}) nVCn
j
sit.
FUTURES.
Sates.
on
154
152
96
113
143
152
810
SO
::::
50
winch they are reported.
;;;;!
....
—-i
154
202
96
113
143
152
61,800
169,200
83,000
111,500
1
81.200,
122,100;
860 733.000
j Dcliv(
.
6
CD
x
O
©
^
MM
Sk
Z
®o
x
®
a
© ©
^
^ M
1
-1
®
^
©o
co
M
-1
-4 O'
oj
4-
—
>
mm
r>
M—
V,
MM
9©
<
®
►}*
◄
®
9 9
CO X
I
ac x
®
©
n
a
CO
•4 M
®
^
to -O
M
M
M M
■-
9c
© 9
®O
CC co
—
^
99
CO co
00-4
»f-_
®
O'
o
*8
•-*
0 ©9
-1
1
1
o®co
co
X,
9®
<
©
®
^
i*ac
^
:
—*
M
WO
^
1 >5) ©:
M-*.)
®
m*.,m
© c* ©
o
M —Co
O' to
X
—
0 50
•<
®
ox
©
M
‘1
8*
I S>-
9 ;o9
cc
rf-
cc
1x1
<
iL.
®
-4 iC
*8
M
w
©
©
_4W
>
99
C M
ci
—*
X
-
X
MM
X.
90o’’ O'
7
—I
9®
<1
®
*TI
®
^
-IX
I $
C
d o©
x
X X
I ^
co
ci
©
tX
-*
! &
or©©
0<
®
o®
o*:
O'
00
M
MM
x»
9©
<
c o
“*
®
M M
®
K tO
^
M to
^
6 6
I ®
——V
M
CC £>•
c©
©
©O'
M
-
>
c©
©.0
z
®
1
1 ^ w:
1—
99
<
®
tex
9 ©x
9©® ©
© :
*•- M
©O
©C
®
tw V
OJ
Z
o
®
©
®
CO
®
CJt
“
o
sn
•1
O'
8
X c ©
x
o®
cc ©
c CO
c ©
©X
° 50
O
'I
o
O'
I
:
*1
CO
<
-•
o*
M
OftO
>
99
zb
<
®
**
‘-v
1 5X X ©
X
©
ci
X
® ci
M
X O'
on
<
III1
*
>
X 50
©
0*03
a rt;
>—
©
:
©9
^
© x
1
?*
<
®
1 s
9 9 0©
W
cc
M
1
©
••
M
•- -
*
£
§
<
4-*.
CM
M Mk M
c
9®
^
<
:
09 _x
"r-
®
X
©
9©9
i ® OC
9®
©0
®
GO
O' ^
■
ta
Qq
1
©—
-x>
O' 8»
—
>£
©
—
X M
CC
O ;h
OOoO
XX
6
o<
tO --4
MM^M
Z
CO^CO
9®o®
ch
:
•i.
◄
I
MM
o c
►
c o
I
X X
X
M M rj M
©
© -© 4
ex
©
M_
c w
>—1
I &©•
.
X?
®
M ■—1
M
<£■■ cc ®
®
©
*c:
©
co ©'O' lO
M
X
9©c 9
.
9099
CO 50
M
M —
p:
9©
®
I ^
<
®
►
3
®oo
© cc
99
V
*>3
s
S
1 © x:
1
§
Z
coco
M_
to
(t-
to
Qq
M CC
OI
3
j
90 c®
CC
w.
-
M M
O
o’*
o
®
MM
6
®
oo;o
9
“48
•
ac x
-to-
c : C
18 O' -
M
OtO
X 00
cx
M 3)
^ M*
-
X 50
.
z
MM<JM
CO
t8
Na
M k; m
CO
£
®
90 O ®
- cc
I
,
§
1 q.®:
1 a>r:
Go
o o © o
co *i. O co
M
®
■"*
XX
^ ©
X
>
99
I
—
-
X ©>—©
f
May.
Z
-5-1
X
8
©
"*
_
*>
*-
I
ts>
M —*
<
_
cc ©c
M C M
O ©
CO
•—*
O ©
M
®
0
<
®
OO ©O
CCMh’1
I
N
CC X
©X
M
:o
oo©o
occb- ob
j
to y to
M
k-
^
X o
©
M M
cor©
90 9
xao
1
M
®
c —
I
®
to”1
at
*J* M
C
<
bb
XX
x©
iL O’
c
9®
© 0
co
«
®9
co
ac
Li M
CM3,©
I
Cte
®
!
C
a
MM
0c
0.
M
to m
z
M
*
M
M
4
*&•
M M Jk
aoM
M
MM
*1
|
*
oi.*:
I
M
;>
WO
M
M W
O
xob
® 50
o»_
W8W1
ob
>
J to ’
®
—
mm
1
—j ©
M
©
*
© ©O ©
®
4
s
N
<
OD Tj ~
x®ob
wo
®
z
o
^
99®®
X
ab
O'C
cc
W
.
dc'.di
®
00
s).^:
1
9 9
°o
• X®4
—*
99
m —
OOO
,
8
if*
>—
h-
oc
2
<j
a
cc® 9
to
00
M M M
M
9®
<1©
W
1
)fk. -*
1 o»r:
M tO
MM
J»
tO~S
MM
—
I 9)®:
l
XX
CO 50
to x
6
tOM
1
<1
®
Oi
CO;
© O'
XilH’*
1 $
- - CD —
© ©
©
>
coco
O^s
cc or
z 09
ob
CCX®
90^9
®
1
0 : © 0
c 9>
OCCJl
to
© -ji
1
<
®
-5 4
ch
®
M
Cjl M
°29
ch ®
i1
05
<
99
Oit*
00 x
9 9
Z
co
©
©
-1
*—
o©o
d ® -1
M
®
'|8l
M
©. CO 50
®
>
MM
MM
—*
Qf)
05
>
<
®
I
31 -•
P'le-CC ^
I 9)-:
-4-4
-4
>
<
-1
99
J
99
<
®
MM
MM
^
°®
r>
Mifk
0. tv jj
MM
>
09 ®9
V Ifx
m—
O Uj
ob x®ob
®
©
©to
CJ1
c cc
cc jo
—
-J CD
10 'JO
9®
cc o*
O.
I
— ^
9) to:
—L —
<
M —
M
to
®
— —
9®
V CO
mm
oo-i
S,
I ®x:
M Xk M
to©
z
_Ci O'
M
6
^4©
cc©
— — OC —
x
o
o
^
M
CO
00
xeb
a
ifh
o_
O
ifc.
CO©
-1
'JJChi’1
1 ®co:
®
M
9 909
Oi«4®-4
c
00
C. Oi
I © W.‘
M M
COOO
M —*
•
~M
◄
®
^
rfl
MM,oM
O O o C>
O3O5O0
©OI lO
9 90 9
d Tf-J ® ob
c®
8N
ION
_00«4
I
9 9.
◄
®
—
X
o
®
9;* 10
®
w
cn©
o»
—
^
I
05
M M CC M
©
*^4
*4
00
M
MrfX M
O 05
-
Z
99
®
SSgS
ch ch ®
0:0
o®
mm'
I £>®:
888
o
>
a8,ji
I s).®:
,
tu
6
99
ch ch
9
^co°co
£
MM
<
<y» ch
®
OOrf-M1^
coao
c.
w
>->
chch® d«
05
MMlfXM
99
I
Q M
99® 9
1 ^-r!:
M
OO M
1
cc
§
Frl.
7N
8'*!
•
®
.
X CO
The total sales and future deliveries each
day during the
week art1 indicated in the
following statement. "For the con¬
venience of the reader vve also add a column which shows
at a
glance how the market closed on same days.
..
c —
O'
:
toco
MM
oc 00
M tC M I
I 0)
o* rf>.
<1-4
Z
®
I q>-:
*
^
M
©
®
®
<1
MXu“
MM
^
Cc to
cc cc
ccto
<, ©
990O
N i) O x
99
^
CO
00
®
© to
®
tco
<
co
M8<1 m
o
O’
^
99
9009
^
I sow:
K) ©
®
0 o
O1 O* K©
dh
M
K) CD
“ *>
09
<1
o
►-
-1-4
A
r
99
W.X
M —*
—
-J
M M
U3-4
N
^
•
-
M <-*
(JL
COo®
® 5
®o
s. rt
co
01
o
d.
®
cctotc^
I ?d.w:
M
•
3
IT
—
^Ot8
00 ©‘
~
•
s’-;*
x ^
g
p
-kg
c
B
•
o< w
CO —
-X Oi
c
co r
£ cJi ®
,s
<5
S? « »S'
OCqO
cJ> A ® ^
99
c. <1
£c
CD-O
900®
<y\ Oi C ch
CC CO
w*1
Oj
t-. —
2
I gno.:
•
cc
^
i
'C
-
f>
t
®
h-Nm
M
—
H
MARKET AND SALES.
Bat
>-*
co
.
M
i Si
H-* CO *—•
ch ch C ch
I Sloe
05*7
05 i
p
•
Z
cJ*
j.
2I
•!
® •
<
CO
^
aci
•
>
<
I
"
Ordinary
Middling
I
05 Ci
(X CO
O 4
...
ITIoii Tuck Wed
Z
®
I
<
®
•
Mi-*
m
99°9
MM
—
® •
oc
S°
COo9
ch
d. c ob
o*
|1
w
99
Q)
p;
3d
«
•
m
®
®9
j 93,6
lOll1(;M034
1013,q loir»j,. 11
ll;ho llho in h
11 Vo 1 ii*,o
I (1N
L23ut 12:1,6 12*4
*
01
:
M5r*
X- ®
.
MM
64
| 91-uo
lo-bc, iONrt hoh
10>-j
■
ION ; 10-‘i(j
1011
a>
K •
a*
•
H- M <1 >—*
>
-vj *.
12 N
^7s
8N
10
®
cJ' ch C> ch
9 9 o®
^5
Z
»
.
gsSg-
t—H
>.
C.-P
K-
O
ec
00
B.f?g
•
P
:
<1
p;
09
co:1
•
O' X.
p
M
^
tp-
:
ja
°
P
Oe*5*
1
S-bo —
*^
MM
7i:bo
'13
'8
^
®
^
—
co
p*
co
Ch
Cm1-1
“lx^
o
•
® •
<
cc
1
ION
74
84
ION
3*
u> cn
fOT ,0
ion
•
§ ©r®
® M
cn
»_
O ©
w» Q
11 N
1 1 N
I
cc
C-j
S: f1
:
I
?co
3) to.
ho
U>l8
Frf.
91;he
►-‘If.
co
® •
<
00
91
101,6 101,(1
1(>N
.
Tl».
9‘ho
91 ho
•
tO 5:
I
7%
8h
iTIoii Tues Wed
i
® I
OOcO
ch
o d»
9ho
t»N
1<»V. lO1-',,;
1 OC5j,.
ol a
H ho nho
;
•
HH’vjM
Frl.
7H 10
!
1>4
9-8
.
Tit.
1110
‘
Oho ! 9*,«
O'-IG i 0i ho
9°ig
10
JlON
.
Middling Fair
Low
:
73b
8N
-N
Ot
to X'
o
came to a halt.
mean time b,~en
Roil. Tues Wed
$ IN. 7N
j .8 N
I 9'ifi
>
oc
865,020
I
Ordinary
Strict Ordinary
Good Ordinary
•
p
vj
S
9=
| P*t—
•
•
•
»-* *—
eliminated, and although receipts at the ports continued
small Liverpool weakened on Wednesday and this market
followed that; but there was a partial recovery with
the dif¬
ference, however, that the early months were the weakest
instead of the strongest as for some
days previously, and
April, instead of March, became the leading month in the vol¬
ume of business.
Yesterday a weak opening under dull Liv¬
erpool advices was followed by a recovery on the smaller
receipts at the ports, and finally there was an irregular
advance, the interior movement being much reduced and the
receipts at Memphis and St. Louis notably small. To day
there was an early advance on the continued small
crop move¬
ment, but it was fully lost uuler sales to realize, interior
stocks being maintained at'pretty full
figures. Cotton on the
spot begins to show some* accumulation and the demand is
very slow, bu‘ in sympathy with the speculative market
quo¬
tations advanced 1-1(5
on
Saturday and Lgc. on Tuesday.
But on Weinesday there was a decline of
l-l(5c., which was
recovered to-day, and middling uplands closed at
lOfgC.
The total sales for forward
delivery for the week are 733,000
bales. For immediate delivery the total sales foot
up this week
860 bales, 'including — for
export, 810 for consumption,
50 for speculation and — in transit.
Of the above 10 ) bales
were to arrive.
The following are the official
quotations for
each day of the past week—Jan. 14 to Jin. 20.
Nat.
•
co-
Tuesday) and then the buying
UPLANDS.
®
P a*
-
: p-r?
; q; p
o
claimed that all this had been “discounted.”
But the
advance continued until this crop had risen 30(8)35
points
fiom the lowest fi-ures of the previous week (which occurred
the
•
83 *
!
3Q
-2
tinacity, and the statistical position pointed to; but the bears
in
*8
•
P
90
Much of the “short interest” had
1
1
*
<»o
of
1
1
The open
ing was buoyant.
The reduced movement of the crop,
although said to be due in part to the severe weather in the
Southwest, was made the basis of an active speculation, short
crop estimates being again asserted with considerable per¬
course
■
aft®?1
mt a ed
a
•
®
® pi
® ®
■5 ®L.P*
ov
ee rt
so
rf
-—.
o;
I
£
i SES
•—*
w
•
W 9T
ibis market
The speculation in cotton for future
delivery at
has been quite active for the week under review.
in the
p.
802,012
172,322
by the
S5?|
|.gs|
Ohj;
to CD
I—
o
sr=Tp
O
® ’C
a
di
Pa*
.•8,0
SD •
I
•
a ®
P* ® ®
•
E£d•
:
:
**
-r-® a
r»
j
shown
are
j-Jgf
on®
©
St 6-1
•
00
215,376
55,866
28,439 | 61,172 21,965 232,691
32,350 | 48,543 i 25,687 i 222,530
121,115
Us
gE
1,000!
3,500
8,753 !
2,000
48,319 j 20,193
0*3
®
m
Stock.
»
None.
i
!
wise,
Futures
of
§21!
a ® ® ®
71
•
tT a ®
yo 33
a
Leaving
Coast-
Prices
and
following comprehensive table:
—
Jan. 20, at—
107
>
11
1
1
<
®
11
•1
1
:
11
®
>1
1
:
<
-1
1 $>:
:
*
T'Cimw-rt 8^.ier in ©enTt-mDer
iSh7, Tor Mr-preir.258,200;
teniber-Ootober. for Octoher. 570.200; Se, tenjNpr-Novi'mher, for 8ep
No¬
vember. 4s 1,600; September-December, for December,
1,027,400.
IST We tliiVti ineinned in mo aoove taoie, ana cnali rontinue oaoll
give, rhe average price of futures eacn day for each month. It
^l!i be found under each day following the abbreviation “
Aver ” Tha
-tveraire for each mouth lor the vvee« is alHt> given at bottom of
table.
Transferable Orders— Sarurday, 10*40c.;
\reen to
Monday. 10\55c.: Tuesday,
tO*o5c.; Wednesday, 10-j0-3.; Thursday, 10 5ho.; Friday, 10 c5o.
The following exchanges have been made
during the week I
•31 nd. to exch. 500 Mar. for An?.
•2s
T1
pd. to exch 5 *0 Mar. for July.
pd. ro exch. 2,0 O Feb. tor Mar.
08 pd. to exch.
Nov. for Aug.
4
■30 pd. toexi h. 30U S- pt.
07 pd. to ox* h. 200 Mar.
•27 pd. to exeb. 7 00 Mar.
•11 pit. to 8ixcit 40D F* b
T2 pd. to exch. 50 * Feb.
'11 pd. to exch. 500 Feb.
pd. to exch. zoo June for July.
•07 pd to exch. loo June lor Aug.
The Visible Supply of Cotton
and telegraph,
is
as
follows.
for May
fur Apr.
for
tor
for
Aug.
Mar.
Mar.
for Mar.
to-night, as made up by cable
The Continental stocks, as well a3
bales more than at the same period last year
the same towns have been 18,589 bales less
week last year, and since September
week’s returns,
brought down
to Thursday evening.
But to make the totals the complete
figures for to-night (Jan. 20), we add the item of exports from
the United States, including in it the exports of Friday only.
1885.
1886.
1887.
those for Great Britain and the afloat are this
and consequently all the European figures are
1888.
Stock at Liverpool
-Stock at London
bales 707,000
820,000
12,000
629,000
17,000
730,000
832,000
3,100
20,100
20,000
646,000
20,000
stock.
Total Great Britain
Stock at Hamburg
Stock at Bremen
>Stock at Amsterdam
Stock at Rotterdam
Stock at Antwerp—
Stock at Havre
13tock at Marseilles
Stock at Barcelona
Stock at Genoa
5,400
20,700
20,000
1,400
43,000
3,000
0,000
500
1,500
1,100
184,000
4,000
37,000
6,000
10,000
3,000
1,032,300 1,131,000
100.000
1,124,400
73,000
004,000
534,000
074,334
388,100
to-day.
27,772
328,780
458,854
20,020
20,527
Norfolk
Boston
Baltimore
American
534,000
American afloat for Europe...
974,334
38 4,190
27,772
United States stock
United States interior stocks..
United States exports to-day..
Total American
East Indian, Brazil,
&c
—
London stock
Memphis
..
...
898,724
283,286
14,400
53,000
3; »,000
17,000
60,000
94,000
49,000
412,300
447,900
359,000
India afloat for Europe
afloat
105a
10 *4 <V *8
1058
9*4
011J6
OH 6
9*4
978
9 7s
91*10
97e
97s
Wcdnes.
Thurs.
91*16
91*16
91*, 6
911io
915,0
91*16
91*10
911i6
10
ioi 16
10
10
10
10
10116
lOlxo
105«
1046*8
105a
10*4
10*8® Lj
10*4
10*8® Lo
10
978
9*4
10
101,6
101,6
105g
10*8® Lj
.
1011,6
97s
91*16
97e
10
10
10
10
10
97h
915,0
91*16
91*,a
1011,6,
91*,6
91*16
91*16
91*, 6
91*16
91*16
97a
91*16
911,6
91*16
Fri.
105e
The following table
week from the planta¬
—
not include overland receipts nor
they are simply a statement of the
weekly movement from the plantations of that
which finally reaches the market through the
639,000
139,000
136,300
Continental sl ocks
Egypt, Brazil, &c.,
237,000
12,000
95,900
100,000
44,000
10
tions.
The figures do
Southern consumption ;
537.000
196,000
97e®10
91uiq
Receipts from the Plantations.
indicates the actual movement each
are a«
29,000
9*4
9&8
....
Cincinnati
Louisville
283,280
11,400
185,000
OUlG
91*16
91*16
91116
10 L3
loq®38
1058
9*4
...
part of the crop
outports.
St'kut Interior Towns. Rec'pts from Plant'ns.
Receipts at the Ports.
2,606,296 2,781,760 2,718,931 2,609,410
Liverpool stock...
97a
St. Louis
808,724
490,000
624,000
223,000
201,000
439,000
604,000
L
991,960 J ,087,550
458,854
328,780
20,527
26,020
522,000
160,000
l
978
fllo16
Augusta
3,077,031 3. ,082,810
ioilow t*:
Total visible supply
3,048,500 3,220,000
Ol the above, the totals of American and other aeaeriptiuns
.
Philadelphia
630,000
50,000
40,000
001,000 1,087,550
44,000
30,000
9?8
9*4
97s® 10
978
..
Wilmington
341,400
cott’n afloat for Enr’pe.
Egypt, Brazil ,&c.,attt for E’r’pe
Stock in United btates ports..
Stock in U. S. intenor towns..
Tues.
...
Charleston
5,000
04,000
430,000
Mon.
...
Savannah
QUOTATIONS FOR MIDDLING COTTON ON—
Satur.
Galveston
New Orleans.
Mobile
283,000
53,000
CLOSING
Week ending
Jan 20.
020,000
Amer.
United States exports
Middling Cotton at Other Markets.—
quotations of middling
cotton markets for each
day of the past week.
200,000
200,300
Total Continental stocks
Total European stocks
India cot ton afloat for Europe.
783,000
7,000
400
6,000
11,000
1 the receipts at all the
for the same time in 1886-7.
Quotations for
53,000
2,000
44,000
The( receipts at
than the same
In the table below we give the closing
cotton at Southern and other principal
43,800
146,000
4,000
45,000
192,000
180,000
2,000
164,888 bales more than
towns are
741,000
42,000
32,000
300
300
000
Stock at Trieste
4,300
3<»,800
[VOL. XLVI,
CHRONICLE
THE
108
18bt-86|tm-S7!l8S7-88 1885-sO 1880-87 1887*88j 1885-88 1880-87^887-88
204,000
42,000
238.011 .liOO.OSP 213,902
240.li 6 283.045 202,859
Dec-. 10
101,100
73,000
50,000
“
23
“
30
Jan.
473,100
Total East. Tndia, &c
Total American
2,606,296 2,781,760 2,718,931 2,009,410
Total visible supply
3,048,506 3,220,660 3,077,031
1189,^52 230.618 188,824 54 <.557 443,51*5 493 8>3 212,0 0 240,049 179,029
*140,829'159,044 159,808 520,501 423,2 2 401.804 123,833 138.731 127,229
0
“
13
“
2 ‘
481,230 410 053 497.3f*9 281.907 209,527 247,948
521.319 4-;3.534 503 G78 28. ,240 305,828 209,108
108,488 142,015 145,741 513.903 380,745
!l 10,310 155.8-4 .105.403 493,250 3‘8 428
The above statement shows—1.
the 'plantations since
in 1886 7 were 4,542.009 bales ; in
3,082,810
437,202 95,92 t It 0.4 8 121.139
423,832 89/67 132,507 92,033
That the total receipts from
September 1, 1887, are 4,796,004 bales;
5“>yil.
Price Mid. Upl., Liverpool....
5*,o<L
51i«d. 5'-',,;d
1885-6 were 4,455.842 bales.
Price Mid. UpL. Now York
10r,8C.
O^jc.
94e.
11X8C
2.—That,
although
the
receipts
at
the outports the past week
The imports into Continental ports this week have been
were 105.463 bales, the actual movement from plantations was
65,000 bales.
The above figures indicate a decrease in the cotton in sight only 92 033 bales, ihe balance being mken Bom the stocks at
to-night of 181,064 bales as compared with the same date of the interior towns. Last year the receipts from the plantations
1887, a decrease of 20,335 bales as compared with the corres¬ for the same week were 132,507 bales and for 1886 they were
ponding date of 1886 and a decrease of 31,214 bales as 89,507 bales.
Amount of Cotton in Sight Jan. 20.—In the table below
compared with 1885.
At the Interior Towns the movement—that is the receipts we give the receipts from plantations in another form, and add
for the week and since Sept. 1, the shipments for the week, to them the net overland movement to Jan. 1, and also the
and the stocks to-night, and the same items for the corres¬ takings l>3r Southern spinners to the same date, so as to give
ponding period of 1886-87—is set out in detail in the following substantially the amount of cotton now in sight.
statement.
I 1887-88. I 1886-87.
o
M h* H >>
M ** t.. g £ C Z?
« — © © s; ©
p
P B
H
t.
—
H
9°
o
£
©
B
»—.
*
©
^
:
^
•
&
cW:
_
l y
,
.
.
*r.
.
~
■
H
t*r 2’
ffi
kC
oh*
w
M
»
®
;
cr.
Q
—
Q.
•
-
r
"
af
-
£mv;
•
•
.
.
.
•
.
.
'*3 2
477,400 280,865
plantat’ns 4,796.004 4,532,009 4,455,8
»2 4,332,562
525,092
358,048
tf-cs
i°|
X I
l
ICMtCtOM
Io-j
CO.
tOirCOO
Cl
w
ci
•
t-
m
Or
m
00
ctooiMwt;
ccocxctcxoi
m
c-dLooxom
!
co
i
i—
i oi
CO
c co
-4
M
ci *
ao
to'
C -t* M
c to —:
m m
-
^
co
w
r
S'
O' “4 *4 M
O
I—1
CO ^ O'M
0*1
M H* Cl
C Ol Cl M (X a X Cl — CC-i
OC
»- Ol Cl
CO I— Cl to CC Ol M X C X
: £
,
a
w
Cl
:
I—' to >—»
QC^
Ol Cl CO X m
C. X Cl CC Cl
00
1—1 M
to
HCH
M^C.CIC^-H
to
^ CC C. »- CC O'
if- CO -1 X O' to to I-1 >C*
-4 c; Cl Cl O' X CO C O' C C X
Ol CC
!
O' CO CC Cl OO
C CO
r-
->4
o
I*-
Cc
I-*
oo
10
hr.
ci
CC
to
M
M
M
CC
Cl
CO
d
e.
CJ
i
CO*
ot
MM
O'
M
c.
cc
MM
Oo
?“
S'
MC.OCMMXC1
X
,
^*
CC.08H80I
M
OC OC
ci x oc c to m ci
x-
5
C CC X X X CC TT CO
O'
M tO
O' o; -■! to m ^.1 oo c; x o;
to
C.-COM X X M X tc O' X O' X to X M to X Cl
CC M to OC (r* tO H- OC X M -4 10 10 H* 10 Cl i4- CC O'
tO M
k-i
Cl
M'-'Cl
ci C; oc
X
o
to
x M cc
CC O' OC Cl X M -1
•— O' X CC 1C Cl o
w1 c C. t CC c CC o
00
Cl
to
F
CC to QC M •
CO ^ ic* ci'
*1- C.
Cl;
Cl 00 C O'l 10 X Oi CC *4 M •
o*
1
-
R* no
M 00
CC
to
CCOO—‘MGC-O^l
Iv OC *^1 w*
cc *■— CC CC
O'
X Cl X to
cc
w«
to
hum
X
-1
wl
►—
cl
—
Ol
M
•
^
-lift.
>u
m-1onxci
Cm
cc
M
m
CCM
xtoxoMnuto
-note
—
CJ
Cl O' O' CC — c X X
— —
M M m to
ST
*
.
ri
too;
Mciooc^ixoc
C X M C C OC M OC
Cl
>
1
C
*2
Co
i
i
00
Cl
00
M
r;
CO
j
X
.]
M
*vj O' M M M
•
C>'
*
<
X
M
cc
M
Hi
to x>
M
MM
oo x to m m O' oi;
HltOH-XMM^GCClHl!
M tc C C M C C X to to;
X-HjOtOClMCMCCOC.
to
M to
cicciotom-M
c.cto —Cto —cc
Cl Ol M X Cm X 10
CCmCCXMXIOCI
S J>3
,*
^
879,175
Telegraph.—Our telegrams from the
reported in many sections. The bad weather and consequent
po* r reads have interfered with the marketing, curtailing to
an exrent receipts at the ports and int rior towns.
**alieston, Texas.—We have had rain on two days of the
week, the rainfall reaching sixty-two hundredths of an inch.
There has been frost and ice on two days and snow fell on
one.
The thermometer has averaged 44, the highest being
from 4 to 62.
Texas.—The weather has been very cold
week; rain has fallen on three days to the extent
of forty hundredths of an inch.
Average thermometer 41,
highest 70, lowest 12.
Nen Orlea?>s, Louisiana.—We have had rain on three'days
of the w< ek, the rainfall reaching seven hundredths of an inch,
The thermometer has averaged 54.
durii g the
<5
ClCC-tOCCXCXMM-UOO'MClOtOCOX
OC 10 tO M OC
1
rT QB
1,27\515 1,059,201 1,122,955
tc-night indicate a decided drop m temperature during
the v eek, especially in the
Southwest, the thermometer
registering as low ?s feur degrees above zero at Palestine,
Texas, and two above at Nashville. Fiost, snow and ice are
age d 33, ranging
*San Antonio,
x*>
-
5,111,934 4,805,610
of the week,
inch. The
has aver¬
Cl
Ci
OI
M
M M to O' X M ci OC
1C C^t CO X CC >*-“■ cc
to m ci c«- x c cc c i-1 b to ci cc x *-* c cc - t
M tc C -I O' C Oi O' C OC X O' OC O' o
COlOC^lCirirC.Clt»»-*-CCh,CHirCit*
X
to
O:
co:
f-
M
115,000
66 and the lowest 23.
Palestine, Texas.—It has rainei on two days
the rainfall reaching fifty-eight hundredths of an
weather has been terribly cold.
Tne thermometer
a’
M
Ol
cc
Cl >— C Ol X CO
C tv CC UC •si cc
j
-1
o
p to <1 JO
Moitolocc
oi;
M -* O' M k-1
CC' C O' CC c O' Cl
-
10
to;
gobi'ri •
cc o-'lo
to o' — o co
Cl C C Oi to
to
.1
to
to
©
CO
MM
M
131,000
South
22
kaS:
§
:
150,000
bales.
Weather Reports By
^4
205,000]
-
in amount in sight to¬
bal'“», the increase as
1885-6 is 599,782 bales, and the increase over 1884-5
ri
^
710,712; 513,742
-
It will be seen by the above that the increase
night, as compared with last year, is 515,965
is 906,106
*
318,368
5,711,716 5,195,751
spinners’ takings to
compared with
V:
X
J0h, CO'Im MC Cl JO VJ tea O'O'Cl OC tC OH
-•
co o* c;7j o;
O'0*5: cc. o< - iO'Or. ci'ic
C. Cl
M
co
o
CC <, <J
w. ..-
CO
I
Ol •
Northern
.Tan 20
t^^jcc^ccr.io
—I w' ^0 I« ^0 k* Cl 0. i—w. Cl ..'
tO -4 Si CC Oi 00 tO CC Cl O © Cl Cl Cl
to 0tO CC M O' CC M
a c co cc o' *o o
ol COCCacr-ooo
co
Ol
to-
to
x
m
ka
|
Jan. 1
sight Jail. 20
Total in
Cs
1 400,002
of September 1
Tot. receipts from
Net overland to-Jan. 1
Southern eonsumpt’nto
1
"
££: £'■
.
00
•
:
©p S®
m k H H *"
So'El;
«i M
excess
®
©
er
c9
1S84-85.
Receipts at tlie ports to J;m.20 4,396,002 4,213,041 3,97S,442 4,051,697
Interior stocks on Jan. 20 in.
|
'
I
ir!i
f~li I si
|f? I-5" Ilfs 5 !?©» >■
?
E
^
!
1885-86.
to
Shreveport,
Louisiana.—Telegram not received.
Mississippi.— It has rained on two days of the
the
rainfall
reaching one inch amt fifteen hundredths.
week,
*The flirures for J^ouliTille in boih years are “net.” t ThU year's
The thermometer has averaged 30, ranging from 10 to 54.
figures estimated.
Lelanft, Mississippi.—Sleet.fell on two days in the
The above totals show that the old interior stocks have
part
of the week. The eleet reached four inches in
decreased during the week 11,655 bales and are to-night 59,410
fO
X
1-
X
j
|
X O’Cl O' Ol Cl
w1 tc CC ■
CC
X
I
Common*,
early
depth and
8
8
1
88881
THE CHRONICLE.
January 21, 1888.]
grrund is still covered with it. The thermometer
ranged from 15 to 62, averaging 80 1.
Greenville, Mississippi.—Rainfall for the week one
and twelve hundredths We had hail and snow on one
The thermometer has averaged 42, the highest beiag 62
the
109
.
inch
the shipments since Jan. 1 show a decrease of
6,000 bales.
The movement at Calcutta, Madras and other India
ports for
the last reported week and since the 1st of
day.
and
“Other ports” cover
Tuticorin, Kurrachee and Coconada.
has
has been
years,
January, for two
Ceylon,
follows.
as
the lowest 20.
Vicksburg, Mississippi.—Telegram not received.
Gloster. Mississippi.—Telegram not received.
Little R:ck, Arkansas.—The weather has been cold during
the week, with rain on two days and sleet and snow on two.
The rainfall reached eighty-six hundredths of an inch.
It is
now raining lightly, and reports state that the temperature will
fall twenty degree s in the next thirty hours. The thermome¬
has averaged 23, the highest being 45 and the lowest 7.
Hehna, Arkansas.—Sleet and snow have fallen on three
days of the wet-k. The ground is covered with snow to the
Shipments for the week.
Great
Britain.
for the week are
only one-third what they were for the corre¬
sponding period last season. The thermometer has ranged
Shipments since Jan
Total.
uary
Total.
Britain.
1888
2,000
1,000
1,000
3,000
Madras—
1,000
1887
AH others—
1S88
3,000
3,000
3,000
4,000
4,000
0,000
|
1
1,000
2,000
1,500
i
1,000
G.000
1,000
7,000
10.000
(►.000
2,000
8,000
10,500
5,000
7,000
2,000
1,500
1
4,000 !
3,000 I
3,000
4,000
Total all—
1887
1,000
1,000
3,000
7,000
4,000
7,000
4.000
14.000
15,50©
!i
5,000
from 8 to 52.
Memphis, Tennessee.—Nearly four inches of
snow
and sleet
fell on Sunday and it is still on the ground. The rainfall
reached one inch and forty-nine hundredths.
The ther¬
mometer,! as ranged from 6 to 54, averaging 26.
Nashville, Tennessee.—We have had rain on four days of
the week, the rainfall reaching two inches and sixteen "hun¬
Average thermometer 29, highest 55, lowest 2.
Mobile, Alabama.—It has b en showery on two days of the
week, the rainfall reaching thirty-four hundredths <»f an inch.
The thermometer has averaged 49, the highest beiag 72 and
the lowest 23.
The above totals for the week show that the movement from
the ports other than Bombay is 1,000 bales less than the same
week last year.
For the whole of India, therefore, the total
shipments since January 1, 1887, and for the corresponding
periods of the two previous years are as follows :
EXPORTS TO EUROPE FROM ALL INDIA.
dredths.
Montgomery, Alabama.—Rain has fallen
on
the week, and there has been frost on three.
reached one inch and three hundredths. _Tiie
has averaged 48, ranging from 18 to 76.
five days of
The rainfall
47, highest 65, lowest 17.
Madison. Florida.—An inappreciable amount of rain fell
on one day of tne week.
The thermometer has averaged 62,
the highest being 78 and the lowest 23.
Macon, Georgia.—Rain has fallen on five days of the week.
Bad weather and poor roads have curtailed receipts.
Columbus, Georgia.—We have had rain on three days of
the week, ther.uufall reaching one inch and eigbiy-two hun¬
dredths. The thermometer lus averaged 39, ranging from 18
mometer
to 50/
Savannah, Georgia.—It has rained lightly on four days of
the week, the rainfall reaching eleven hundredths of an inch.
The thermometer has ranged from 27 to 73,
averaging 52.
Augusta, Georgia.— The weather has been cloudy and cold
during the week, with rain on five days. The rainfall reached
one
188.9.
Shipments
to all
inch and seventeen hundredths. The week closes clear and
Europe
4(5,000'
12,000
7,000;
ll.OOOj
8,000
12,0001
00,000!
20,000
Total
mister has
ranged from 25
to
69,
lowest 32.
Wilson, North Carolina.—There has; been rain
and hail on
days of the w. ek. the rainfall reaching two inches and
eighty-seven hundredths. Tne thermometer has averaged 39,
ranging from 17 to 56.
The following statement we have also received
by telegraph,
showing the height of the rivers at the points named at 3
o’clock Jan. 19, 1888, and Jan. 20, 1887.
_
six
Jan.
Feet.
New Orleans
Memphis
....
Naakville
Shreveport
19/88. Jan. 20/87.
Above
Above
....Above
Above
low-water mark.
low-water mark.
low-water mark.
low-water mark.
Above low-water mark.
Vicksburg
4
21
20
19
20
Inch.
7
0
9
3
3
Feet.
Inch.
0
4
G
7
Miss
O
Ing.
0
9
O
India Cotton Movement from all Ports.—Tlie
receipts
and shipments of cutton at
Bombay have been as follows for
the week and year,
bringing the figures down to Jan. 19.
Tear Great
Brit’n.
1888
1887
188G
1885
5,000
2.000
2,000
Conti¬
Shipments Since Jan. 1.
Great
_
Total.
Britain
5,000
11,000
12.000
7,000 9,000
8,000
10,000
9.000
nent.
10*000
Conti¬
nent.
35,000
44,000
23,000
33.000
Total.
Receipts.
This
Week.
40,000 2G.000
52,000 43,000
33,000 33,000
42.000 21,000
This
week.
Since
Jan. 1.
52,000
13,500
9.000
33,000
9,000
10,000
G 7,500
18,000
49,000
Liverpool and Alexandria,
we now receive a weekly cable of
the movements of cotton at Alexandria,
Egypt. The follow¬
ing
the
are the receipts and shipments for the past week and for
corresponding week of the previous two years.
Alexandria. Egypt,
1887-SS.
Jan. 18.
1S8G-87.
Receipts (cantars*)—
This week
Since Sept.
03,000
2,4 40,000
1
j
1
Exports (bales;—
To Liverpool
(5,000 182,000
5,000 101,000
To Continent
Total
Europe
11,000
i
75,000
2,112,000
This ] Since
week. Sept. 1.1
|
283,GOO!
This
week.
1885-86.
i
85,000
2,378,000
1
Since
j
Sept.
8,000 182,000
8,000 88,000 I
1G,000!270,0001
This
week.
Since
Sept. 1.
10,000^101,000
G.OOOj 90,000
1G,0001251,000 -
*
A cantar is 98 pounds.
This statement show that the
were
11,000 bales.
receipts for the week ending
03,000 cantars, and the shipments to all Europe
Manchester Market.—Our report received by cable to-night
from Manchester states that the market
is
dull
for
both yarns and shirtings.
We give the prices for
last year
leave those
for previous
to-day*
weeks of
for comparison:
1887-88.
32s* Cop.
Twist.
! d.
d.
Dec. 16 7*2 ®81e
“
23 7^8 (V8 ‘-i
“
30 7^4 faS^s
Jan. G734 'S'83s
“
“
13
20
this and
7t;bo—8~ic>
7i«1H-8716
188G-87.
811 lbs.
Shir liny s}
d.
s.
5 7 *2® 7
5 9 Tv 7
5 10*2 7
5 10 hi 7c 7
5 9
fa>7
5 9 'ill
s.
d.
0
1 ’g
3
3
2
2
CotVn
Mid.
JJplds
a.
5 Sr
5534
“10
51116
5r,8
5-‘h
32s Cop.
Twist.
a.
d.
7:*s 77 8
CotV it
S*4 lbs.
Shirtings.
s.
5
73,rt®7ir»16 5
7>_’16<7 7b>i,; 5
7-_»l(5« 7 L> _ y 5
5
7 *4 w 7 7h
5
d.
8
s.
d.
fa G
9
8
a G 10
8
'll G 10
8
®6 30
9*2 «0 10*2
9*2^0 10*2
Mid.
Cpldt
(L
5*4
5*4
5*4
55ie.
5*4
5yi r.
East India Crop.—From the
Cotton
Bombay Company’s (Limited)
Report dated December 16, we have the following:
A large proportion of tlie arrivals from the Khnndeish districts consists
of cotton tlr.it has been machine ginned, and it is expected that the hulk
of this growth will be machine ginned tins season. The staple
appears
to bo improved by this process, and certainly the cotton so far received
is satisfactory in this respect, (diming factories have also been erected
in all the important markets in the lierars, and a large
quantity of this
cotton will he ginned this season.
Advices from Guzcrat and Kattiawar
are
report that the plants
rapidly maturing in these districts, and in somo
places-the Dhollera crop is ready for picking. First arrivals of Broach,
are
expected by the cml of January, and the
new
Dliolleras also will begin
to arrive about that time, or the beginningof February.
This latter crop
is unusually early this year, and it is expected willb.e marketed earlier than
lias been known for some years past, subject to the weather
continuing
favorable.
The
following is from Messrs. Gaddutn, Bythell & Co.’s
circular of like date:
BOMBAY RECEIPTS AND SHIPMENTS FOR FOUR TEARS.
Shipments this week.
Since
Jan. 1.
Alexandria Receipts -and Shipments.—Through
arrange¬
we have made with Messrs.
Davies, Benachi & Co., of
averaging
Stalsb'irg, South Carolina.—Id has been cloudv, with light
rain, on every day of the week, the rainfall reaching seventyeight hund.edfiis of an inch. As the week clo-ei the weather
is clearing olf cold.
Average thermometer 41, highest 58,
1S8G.
ments
below, and
The therm
This
week.
5,000:
Charleston, South Carolina.—It has rained on two days
of the week, the rainfall reaching eleven hundredths of an
inch.
50.
Since
Jan. 1.
All other ports.
Jan. 18
the lowest 15.
1887.
Bombay
Average thermometer 43, high* st 60 and lowest 23.
Atlanta, Georgia.—It has rained on six days of the week,
the rainfall reaching one inch an t thirty-five humi ^dilH.
The thermometer has averaged 38*3, the
highest being 57 and
pleasant.
This
week.
from—
thermometer
Selma, Alabama.—Rain lius fallen on two days of the
week, to the extent of fifty hundredths of an iLicb. The
thermometer has ranged fiom 20 to 67, averaging 44.
Auburn, Alabama.—Rainfall for the week une inch and
five hundredths.
Frost and ice on the 19th. Average ther¬
1.
Calcutta-
ter
depth of several inches and there is promise of another cold
wave.
No farm work has been commenced as yet. Receipts
Conti¬
nent.
Since
Jan. 1.*
70,000
120,000
95,000
We have no change to report in crop advices. Receipts in the Oomra
and Bengal districts continue small, and people are beginning to
put
more faith in reduced estimates.
The ultimate outturn may prove better
than is at present apprehended, but the fact that in spite of present
high
prices there is so very little coming in, supports the belief in moderate
crops. The Broach and Dhollera crops continue to progress very favor¬
ably, and reports from the Western, Dharwar and Tinuevclly districts
are also satisfactory.
Jute Butts, Bagging, &c.—There has been a light
inquiry
bagging, and the rnaiket is in buyers’favor. Prices are
According to the foregoing, Bombay appears to show a 5}£c. for 1% lbs., 6c. for 1% lbs.,
for 2 lbs. and 7c. for
decrease compared with last
year in the week’9 receipts standard grades.
There
is
only
demand
for butts, and
a
light
of 17,000 bales and a decrease in
shipments of 7,000 bales, and small parcels are being taken. For these sellers are quoting.
5,000
4,000
9.000
58,000
for
THE CHRONICLE’
1 110
$$£@2%?. for paper grades an 1 2)6®2\%i. for bagging quali¬
ty, but an offer of less for a large lot would probably buy.
Comparative Port Receipts and Daily Crop Movement.
—A comparison of the port movement by weeks is not accurate^
as the weeks in different years do not end on the same day of
the month. We have consequently added to our other standing
tables a daily and monthly statement, that the reader may
constantly have before him the data for seeing the exact relative
The movement since
September 1, 1887, and in previous years, has been as follows:
for
movement
named.
the years
1
Tcar
1887.
1886.
Beginning September 1.
This
1
week.
N. Orleans..
7,961
Texas
7,828
Savannah
| 1884.
1885.
|
1882.
359,203 385,642 345,445 343,812 326,656
1,034,450 1,055,524 1,090,385 1,040,092 980,584
Kovemb’r 1,178,436 1,197,259 1,083,552 1,122,164 1,030,380 1,094,697
Decemb’r
963,584’1,161,886 1,069,920 1,104,211 1,059,653 1.112,536
Sept’mb’r
654,776;
]
Total
4,010,200 3,755,798 3,594,638 3,662,205 3,479,937 3,514,473
tot. port
of
Pero’tage
58-38
76-68
71-75
66-40
receipts Dec. 31.. 1 70-59
^
Dec. 31 the receipts at the
This statement shows that up to
ports this year were 254,402 bales more than in 1886-7 and
415,562 bales more than at the same time in 1885-6. By add*
ing to the totals to Dec. 31 the daily receipts since that time
we shall be able to reach an exact comparison of the move*
ment for the different years.
1887-88.
-
1885-86.
1886-87.
1882-83.
1883-84.
1884-85.
Tot.Dc.31 4,010,200 3,755,798 3,594,638 3,662,205 3,479,937 3,514,473
49,366
S.
19,952
10,259
Jan. 1
25,034
24,171
“
2....
33,005
S.
15,144
32,649
S.
«
3....
«‘
4....
**
5....
30,629
20,582
21,857
«
6....
28,585
<t
y
22,963
*‘
8....
8.
•“
9....
25,7491
19,022 p
23,206
S.
29,181
33,895
31,713
11,490
14,401
21,985
S.
20,516
31,194
15,947
It,687
S.
20,519
32.314
S.
21,987
14,571
S.
25,086
20,004
20,021 j
9,986
16,885
11,734
1-1,129
15,185
*‘10....
19,319
33,68 l
23,186
'*‘12..
18,072
17,149
18,144
<*13....
27,369
10,163
18,770
17,031
S.
18,704
32,111
18,550
“16...
28,713
s.
19,977
*‘17....
*‘19....
11,555
*‘20....
22,228
33,027
29,573
22,389
17,997
S.
*‘18
16,053
16,386
..
19,977
25,885
*‘11...
<*15...
18,888
35,488
24,056
24,841
31,730
18,060
25,879
31,673
18,081
27,117
30,601
^14
18,208
•
25,77(5
28,542
23,752
S.
31,999
19,691
23,700
18,021
17,101
10,924
28,206
14,639
3
6,082
15,170
28,605
ir>,4So
21,853
15,0 ’ 8
21,752
17,094
18,405
26,949
S.
21,741
19,4*0
S.
30,653
3 9,7-19
20,346
30,896
24,356
S.
Percentage of total
■portrec’ptsJ an. 20
78-55
143
3,574
2,569
1,701
1,516
98,170
Florida
No.Carolina
Virginia....
North’n p’ts
......
1,269
5.843'
Tenn.,&c....
..s:
va-'r..
!
Since
Thi4t
Since
Sept.1.
week.
Sept. 1.
This
1,000
1,000
52,611
3,800
239
.
45,856
919,218
35,921
812J45 !
17,297
(
15,494
44,191
2,491
22,102
...
4
.
.
.
.
4,254
1,000
28,289
1,12 *
133,094
42, 10,664
8,214
£9,720
1,758
1
-
Since
Sept. 1. ! ■week.
1,000
100
3,007
46,810
178,965
49,514
500
13,946
3J94
71,106
4 05
17,505
2,042
13,802
334,700
1,644
5S.507
8.227
132,106
5,5!8
f
1°,* 53
131,104
........
265,679
5,557
of cotton from the United
mail returns, have reached
137,809 bales. So far as the Southern ports are concerned, these
are the same exports reported by telegraph and published in
the Chronicle last Friday.
With regard to New York we
include the manifests of all vessels cleared up to Thursday.
(Shipping News.—The exports
States the past week, as per latent
New
Total bales.
York—To Liverpool, per steamers Adriatic, 2,070—
Bothnia, 1,508
City of Richmond, 1,810.... Egypt, 3,GOO
."
Wyoming, 1,818
Plato, 1,615
...
To Hull, per steamer Colorado, 1,235 .
To Leith, per steamer Critic, 1,031
To Havre, per steamer La Normandie, 205
To Bremen, per steamer Werra, 150
To Hamburg, per steamers Polaria, 1,169
Suevia, 752
To Antwerp, per steamersNoordiand, 2,206...i\ do Coninck,
702
To Stettin, per steamer Bassano, 1,950.
To Copenhagen, per steamer Thingvalla, 196,
To Genoa, perstearner Bolivia, 256.
To Naples, per steamer Bolivia, 302
New Orleans—To Liverpool, per steamers Alvah, 5,602
Discoverer,4,503 ...
Andean, 2,9 14
Australia, 4,228
West Indian, 2,960 ...per ships Iledwig, 3,821
Prince
Frederick, 4,666 •..
lie Martha, 4,443... Prince Regent,
4,556... per bark Prince Umberto, 4,703
Mobile—To Liverpool, per steamers Ardangarm, 3,939
Glenmore, 1,650
per ship Northumbria,.4 181
Savannah—To Liverpool, per steamers Carbis Bay, 4,110 ...
Kate, 5 227... per barks Flora, 2,075... Konoma, 2,000..
Charleston—To Genoa, per bark Quirinale, 50
Galveston—To Liverpool, per steamers Empress, 4,776
Ma¬
dura. 5,403
'Nyniphaea, 5,044
Wilminoton—-To Liverpool, per bark Bertha, 1,823
To Bremen, per baric Oberburger meister von Winter, 2,236..
Norfolk—To Liverpool, pea’steamers st. George, 2,818
War¬
wick', 3,503... per bark Tiber, 000
West Point—To Liverpool, per steamer Orsino, 5,931
Newport News—To
per
,702
Baltimore—To Liverpool, per steamers Circassian, 1,500
Nova Scolian, 1,520
Mentmore, 2.212
To Bremen, per steamer Hermann, 1,515
Bos'ioXt—‘To Liverpool, per steamers Cephalonia, 1,159
Iowa,
To
.
,
..
...
1,583
Kansas, 2,197
Yarmouth,-per steamer Dominion, 101
Philadelphia—To Liverpool, per steamer Indiana, 572
.
To
2,908
1,950
196
256
302
28,724
13,702
12,770
14,012
50
15,283
1,823
2,236
6,981
-5,931
702
5,232
1,515
4,939
101
'
572
137,809
Total
form,
12,422
1,235
1,031
205
150
1,921
Havre, per ships
particulars of these shipments, arranged in our usual
follows:
are as
Liver¬
received to Jan. 2J in eacli of the years
named.
pool
12,422
.
New York
N„ Orleans.
Mobile
Savannah
Charhfston
Galveston
.
.
.
The Exports of Cotton from New York this week show an
increase compared with last week, the total reaching 22.576
bales,against 13,337 bales last week. Below we give our usual
table, showing the exports of cotton from New York, and the
direction, for each of the last four weeks: also the total exports
and direction since September 1, 1887, and in the last
the total for tlie same period of the previous year.
Week
J
endiny—
!
•
Exported to—
1,1887
New York since Ski t.
Exports of Cotton(Bai.ss) siiom
.
column
—
.
Dec.
1
Jan.
.Jan.
am
]
b.
12.
j! i Fame
»•/
TYi
Tedi n
att
) rt.o
ina
i
Jan.
since
/■rcvi'nt
19.
Sept. 1.
near.
j
1,047
a y 9 21 1 530 236 2S-*
6
55,4.0 39. it 0
TotaltoGt. Britain.. 10,682 14,125
7,6 i 5 14,688 .69.950 2r. 5,3;? 2
7,615 1
13d 7^
Uverpool
£?tlierBritish ports..-.
1.395
•>
_
i
n&vre
105
449
749
205
21,131
31,236
H 0
<0therFrench ports
i
Total French
Bremen
749
4 49
105
201
-* o s
T40
Hamburg
©tlierports
2,070
6,26*.
aOTAL TO NO. EDKOPE..
5,870
9,158
flp'n.Op’rto.GlbrMt’r.&i
313
.0
■i -
1
i
205
150
21,231
31, ‘.36
6.474
2 1.S71
55,
19
l.u2t
5 1 1
5,415
5,054
73 565
5,617
7,125 131,.20 ilG 809
S’
All other
,
”*944
-
1
3.-.S17
"558
3.198,18 i
4.076
8,371
55s
1 i .382
12.447
*
313
17.014
944
!.
24,()7t)ilo,3J7 22,570 433,783 435,874
The Following ape tiif. Gross Receipts of Cotton at
York. Boston. Philadelphia and Baltimore for the paot
week, and emce tej umber 1, 1887.
Hull
Brnn.
and
and
Leith. Havre, llamh.
2,200
2^,724
A niw'p,
Stt tjin Genoa
and
and
205
Cojien/t. A apt.
2,071 5,054
558
13,702
..
Yar-
nio'th.
Total.
22,576
42,426
12,770
12.770
14,012
14,612
15.283
15,283
4,059
50
Wilmmgt’n
1 >23
Norfolk
West Point.
6,9sl
6.981
5,931
5,931
...
167,897
228,107
218,567
07-06
77*79
83-91
73-11
receipts since Sept. 1 up to
iG-nif.’ht are now 216,700 bales more than they were to the same
day of the month in 18*7 and 450,541 bales more than they
were to the same day of the month in 1886.
We add to the
table the percentages of total port receipts which had been
©randTotal
Baltimore.
_
This statement shows that the
Total Spain, &c
This
■week.
|
The
Total.... 4,396,002 4,179,293 3,915,461 4,007,870 3.773,159 4,036,587
Since
Sept. 1.
18,292
..
9o. Carolina
Last,
October.. 1,213,404
j
\
Mobile
This year
1883.
Philadelphia
BOSTON.
New York.
1
Receipts
from—
Foreign
Monthly
Receipts.
J Tol. xlyi,
Newport N.
Baltimore
Boston
PhihuUTia.
.
762
......
6,747
5,232
101
4,935)
5,040
572
572
Total ..109,289 2,200 13,907 5,822 5,816
60S
101 137,809
Below we add the clearances tlrs week of vessels carrying
cotton from United States ports, bringing our data down to
the latest dates :
Galveston— For Liverpool—Jan. 1 1—Steamer Dunholme, 2,603....Jan
16—Steamer Eastern Prince, 5,160.
For Bremen—dan. 1 0 — Steamer Queen, 4,503.
New oiii.iANs-Fni' Liverpool—Jan. 13—.Steamer Cadiz. 5.901 ...Tan,
1 1 - steamers Statesman, 3,941; Yandyek, 2,800 .. Jan. 16—Bark
Asiamt, 1.05.
- Jan.
For lla\re
13—Ship Margarctha, 4,421-
Marseille, 7,074.
Jan. 14—Steamer
For Bremen—Jam 1 i—Steamer Erl King, 4,060..,. Jan. 16—Steamer
llatn.-hi, 1.7s0.
For Antwerp—Jan. 13—Steamer Matthew Bedlington, 1.057.
For (-Jenna—J an. 18—Steamer Azalea, 3.619.
Savann mi —Fur Liverpool- Jan. 14—Bark Felix Mendelssohn. 3,060.
For Havre—Jan. 1 s—Bark Aurora. 2.250.
Bulnswh k -For Liverpool—Jun. 9—Steamer Mozart, 6,015
Jan. 14
—
Steamer Lake
Nepigon, 4,020’
Charleston—For Liverpool—Jan. 13—Bark Sagona,
steamer
2,375....Jan. 14—
Bormquen. 2.600.
For Revai—Jau. 17- Steamer Huntsman. 5.400.
Norfolk —For Liverpool—.Jan. 16—steamer Springfield, 6,713....JaiL
J4—Bark Maelirwyn, 5,410.
Wii.min<;t< >n-— For Queenstown—.Tam 10—Bark 11.1 emmet. 1,334.
West Point—For Liverpool—Jan. 14—Bark Tiber, 1.U15
Jan. 17—
Steamer l'ort Adelaide, 8.115.
Boston— For Liverpool—Jam 9—Steamer Virginian, 2,073....Jan. 11—
Steamer Venetian. 2,720.
Foi Yarmouth—Jan. 17— St earner Dominion, 77.
Baltimore—For Liverpool—Jan. 11—Steamer Barrowmore,
Jau. 16— steamer Sarnia, 3.416.
For
Antwerp—Jan. 11— Steamer Mareca. 1.238.
Philajvelfhia—For Liverpool—Jan. 17—steamer
For
2,495....
British Princess,—
Glasgow—Jan. 11—Steamer Austrian, 1,000.
,
Below
give all
we
THE
18S8.J
January 21,
CHRONICLE
received to date of disasters to ves¬
United States ports, &c.
news
sels carrying cotton from
BREADSTUFFS.
Kimberley, steamer (Br.)—The tug Sampson arrived at Norfolk Jan. 10
from the steamer Kimberley, ashore at Wash Woods, N. C., with
about 000 bales cotton and 100 sacks grain-of her cargo, leaving
about 000 bales to be secured. The ship has been hauled about two
lengths, and as she is on the outer bar, one lengt h more will float her.
R. F. Matthews, steamer (Br.), from New Orleans lor Reval, before re¬
ported ashore near Copenhagen, was floated Jan. 11.
Cotton
freights the past week have been as follows :
Satur.
Liverpool, steam d.
Do
Bremen, steam
Do
sail
Do
Do
....
c.
%
c.
sail...r.
Amst’d’m, steam
t.d.
....
....
%
%
%
%
....
....
1132
%
the better
very
..
vance
per
qualities of “fine”
....
....
....
....
....
....
....
....
....
35*
35*
35*
bbl.
To-day the market
....
....
....
....
....
....
Dee. 30.
Sales of the week
bales,
Of which exporters took ...I
Of which speculators took.;.;
Sales Ameriean
j
Actual export
j
Forwarded
!
Total stock—Estimated
j
Of which American — Estim’d
Total import of the week
Of which American
j
Amount afloat
:
Of which American
[
Jan. 6.
59,000!
49,000
53,000
5,000!
4,000;
4
,OUO|
0,000l
38,000:
11,000:
419,000:
111,000:
83,000
285,000
275,000!
25,000;
10,000j
38,000
9,000
27,000
0-3,000:
620.000
411.000
95,000
80,000
293,000
278.000
447,000
20.
54,000
3,000
4,000
37,000
3,000;
3,000;
32,000
20,000
oo 1,000
| Jan.
Jan. 13.
Wheat has declined,
Speculation has been sluggish, giving
The “bears” dare not “goshort” to any
extent, fearing the outcome of the political situation
values little support.
serious
on
the
87,000
65,000
34 1,000
33 1,000
2 RED WINTER WHEAT.
Sat.
Mon.
Tues.
Wed.
Thar 8.
Fri.
January delivery
February delivery
March delivery
91
91%
92%
91%
91%
92‘4
90%
90%
91 %
April delivery
93%
91%
93%
94%
93
93%
93
94%
94%
90%
90%
91 %
92%
93%
90*4
903*
May delivery
June delivery.
December delivery
94
93%
97%
93%
93%
97%
90%
9104
92 >4
93%
94%
94%
97%
96%
96%
96%
Indian
from
95
has declined.
corn
Values received little support
was re.-tricted to the
At the reduction there was some revival
speculation, and the local trade
5,000
28,000
707.000
522,000
158.000
of
133,000
317,000
300,000
by the seveiity of the weather in the Mississippi Valley.
To day the mirket was dull and unsettled.
narrowest
limits.
the expoit movement to England, but only in a very
moderate way.
The marketing cf the crop has been impeded
DAILY CLOSING PRICES OF NO.
Liverpool market for spots and futures each
day of the week ending Jan. 20 and the daily closing prices
have been
as
follows
:
1
Saturday Monday.
Wednes.
Tuesday.
Thursday.
Friday.
l
Good
demand.
Dull.
n9io
OiTns
Sales
Firm.
Steady.
Freely
Barely
o tiered.
supported
5%
5%
5%
5%
5%
6,000
51116
Dlljo
5D,«
r.iiio
5n]fi
12,000
1,000
10,000
1,000
10,000
2,000
10,000
800
10,000
1,000
Quiet at
Steady at
1-H4 ad¬
1-64 de¬
Sj»ec. & exp.
5%
1,000
Futures.
Quiet at
l:
12:30 P.-M.
(!
J
Market,
(!
1 (VI de¬
cline.
St^adv ai
3 H4 ad¬
vance.
Sat.
Mon.
Thurs.
Fri.
61 *4
Tues.
61 >4
Wed.
61%
61%
62%
62%
60%
6o%
60%
June delivery
....
Rarely
steady.
) j
Firm.
Quiet.
Firm.
!8ni., Jan. 1 1.
i
Sat.
and Gklhs
| Jinn., Jan.
thus:
16.
38%
38%
39 %
February delivery.
delivery
May delivery
March
j
arc yiren in pence
4 63-64(/., and 5 01 means 5 l-64d.
j Often
!
|
High Low. Clos. lOpen High Low
5 34
j
i
d.
\
d.
\
d.
1
4 63
meant
Tuch., Jan. 17.
d.
| 5 39 1
5 34
5 .34
5 39
5 30
5 34
5 34
j 3 30
5 30
5 35
5 35
5 40
5 56
5 36
5 41
5 37 i 5 37 | ! ; 42
5 39 5 30 i 5 44
Feb.-Mu'Ch
5 35
5 3
War.-A pril
5 36
5 56
i
>
Aprll-May.. 5 37 5 ;>7
May-June.. 5 30 5 59
June-I Ly..
41
r> 41
43 ,54 1
July-Aujj...
5 44
5 40
5 39
5 41
5 4‘ >
j
5 42
5 42
30
j'■ 5 40
5 44
5 44
| 5 44
5 46
j 5 46
3
j 5 48
5
4% !
5 46 I 6 40
5 43 ;
-
43 ;
5 4>
5 44
1
5 -14
i
5 48 j 5 48 j
j
j
j, 5 48
5 48
1
1f
&
30;
Low. Clou.
d.
■,
1
5 39
i .8
5 39
5 30
| 3 40
5 39 I
5 40
|541
1 5
5 40
5 41
5
4p
5 43
5 43
.43
t 45
>
45
5 47
3
47
5 48
,,s
5 40
43
,
5 48
F * J
d.
5 40
5 42
5 12
m
j
j
5 45
| 5 47
47
; •’ in
5 48
5 40
:
IS.;
1
Open Hujh Low.
d.
d.
January....
5 30
5 39
Jan.-Feb.
5 3U
5 30
!
d.
; n :38
’
January delivery...
February delivery..
5 40
5 40
5 38
5 41
541
5 30
April-May
May-June..
5 43
Jnne-Jul v..
0
July-Au>r
5 48
Auj{.-Sept..
61%
61%
II I’M..
J
a n.
[
1
>pen' High
!
d.
!
5 36
|!
d.
5 37
5 36 ; 5 37
537 i 53s
Low. Clos.; Open : dun
4
d.
5 56
5
6
^
5 45
5 45
5 43
47
5 4.7
5 45
5 45
5 44
5
48
5 47
5 47
5 45
j 5 4*'
5 45
o
5 49 ; 5 4b
5 47
5 47
5 46
j 5 47
5 40
5 47
5 40
5 42
i
5 37
5 38
5 38
o
•
l
i
38
•39
»J''
>
4.
30
d.
5 38
5 39
5
5 30
5 3u
3 30
5 30
5 39
i
5 4o
5 41
5 40
5 41
5 40
!
4 i
5 42 ; 5 41
5 42
5 44
0
!
1
.42
5 42
■
42
5 44
5 44
O
dl
■
d.
Low. Clos.
30
j1 55 40
39
4m
j
37
541
5 38
1
37
43
j
Fr!.. Jan.‘JO.
*
|
5.39
j
541
j
5 43 i
;
|
19.
[•
d.
5 38
60%
61
61 4
61 »4
61%
61%
61%
6L%
The
Mon.
38 %
39
Tues.
Wed.
Thurs.
Fri.
38%
38%
39
38%
38%
38%
38%
38%
39%
39%
40%
39%
40%
39%
39%
44%
41%
41%
....
39%
2 WHITE OATS.
41%
42%
41%
42
Lye Ins been quiet and nominally unchanged. Biriey met
a fair demand at hardening values.
Barley m lit brought
very full prices,
Baci vneat is quiet and uuchangeJ.
The following are the closing quotations:
with
Pino.".
i
5 4 J
544
j
5 45
•
:
5 47
o
4.>
j
5 43
5 4)
5 46
5 48 | 5 47
5 48
5 40
5 49
)
4 t)
-
j
5 48
Southern bakers’ and
$ bbl $2 20®$2 65
Sprint; wheat extras.
>111111. clear and stra't.
Win ter si 11 pp% extras.
Win Du- XX anti XXX.
Patents.
Southern supers
3 mth’n coin, extras
.
2 50(0 3 00
2 80w 3 20
family brands.
$3 60®$t 30
Bye flour, superiiuo.. 3 35 ® 3 65
3 60 <t) 1
2 85 it) 3
3 30 a) 4
•1 15 a) 5
2 75 <0 3
3 25 a) 3
Fine
Com meal—
Western, Aso
2 10®
2 60
3 00®
3 25
Brandywine
Buckwneat flour, per
3 20® 3 25
50
25
30
00
00
100 lbs
50
-
#00® 2 15
GRAIN,
Wheat—
1
Spnuif, per bush...
Spring No. 2
......
...
I'll
5 38
5:>i
Feb.-March
..
Clou.!
5 3s
Mar.- April.
.
....
41%
42%
41%
41%
Red winter No. 2...
Red winter.
t
Wed h (:•*. .Jail.
..
62%
....
DAILY CLOSING PRICES OF NO.
supo tine
d.
5 ::8 I
•* «9
A 3.3
3 39
30
!
|
d.
d.
5 39
5 41
Open^ High
j Clns.
d.
!.4
5 34
5 44
l
r> 34
...
AU£.-Sept..
62%
l4
FLOUR.
1
j. 5 d.
d.
,
.
6L
40%
1
'
61
DAILY CLOSING PRICES OF NO. 2 MIXED OATS.
January delivery...
Firm.
Quiet.
VW The prices
..
%
61%
speculation in
f-ympathized with wheat and corn, and the local
trade is impeded by the obstacles to, and increased expense of,
trampoitation, but holders h ive shown much strength and
little disposition to make concessions.
To-day the market
was quiet but steady.
vance.
.
otherwise stated.
January.
61
1 64 ad
The opening, highest, lowest and closing prices of futures at
Liverpool for each day of the week are given below. These
prices are on the basis of Uplands, Low Middling clause, unless
Jan.-Feb
61%
62 *4
them has
Steady at
Quiet.
cline.
vance.
|
4 P. M.
January delivery
February delivery
March delivery
May delivery
2 MIXED CORN.
Oats have been variable and unsettled.
j
Mid.UpTds.j
Mid.
Market,
selling at $2 50@$2 65
change.
The tone of the
Market,
ad¬
some
quiet without decided
was
DAILY CLOSING PRICES OF NO.
previous weeks for comparison.
12:30 p.m.
brought
35*
Liverpool.—By cable from Liverpool we have the follow¬
ing statement of the week’s sales, stocks, Ac., at that port,
Spot.
Yesterday, however,
No. 2 flour from winter wheat
or
late nominal quotations,
over
Per 100 lbs.
of spot cotton,
little in the past week.
-
...
We add
changed
wranted for the British Provinces and
....
n32
1J32
U39
market has
export demand continued moderate.
....
....
....
....
“32
35*
....
Barcelona,steam d.
Genoa, steam
d.
d.
Trieste, steam
Antwerp, steam d.
*
....
>ur
The weather has been unfavorable to the local trade, and the
5ig® %
51g'®%
516® %
Tne fl
Continent, while the “bulls” are restrained from acting
by the slow progress which is male in reducing the visible
supply. At the decline there his been more doing on the
732®932 732®932 %2®932 732®932 732'3>932 732® 932
spot sand for export, the latter ma nly to the Continent,
and mostly of the better qualities of spring and winter
%
%
%
%
%
%2'S)14
7
732
732
32
732
732
732
growths. To-day futures opened weak, but partially recov¬
%
%
%
%
%
%
ered. Spot wheat very dull, only a limited milling business
%
%
%
%
%
%®%4
being reported*
d.
sail
516 ®%
....
....
1132
....
via Leith-tf.
Do
.
%®9G4
....
....
....
516®%
Fri.
%'®904
%®964
....
35*
c.
Reval, steam
„,
c.
c.
Hamburg, steam
.
5ig®%
c.
sail
Do
„
Friday, P. Mm January 20, 1883
were
Thurs.
Wednes.
Tues.
% ® %1
%®964
sail., .r/.
Havre, steam
Mon.
in
White
Corn—West’n mixed.
West’ll mixed No. 2.
Western wane
Western yellow....
Whole aoiiinem....
86
80
90
86
85
®
9 l
90
h'
9 L
®
93
(t)
Canada No. 1
Two-rowed Slate..
Six-rowed .State
Milwaukee No. 2...
Malt—rilate, 1-rowed.
state, 3-rowed
f>8
(V
60
% <i
60
60
d
9 i
62
61
63
w
62
....
®
....
67
3>
70
Exports
Brkadstuffs
39%
42%
Barley—
Buekwhe.tt
Pa., 13 bush.
« id
45
30
(O
3 8 % tv
41 %®
White
No. 2 mixed
No. 2 wnite
®
RyeState in
37
Oats—Mixed
95
Lb
80
®
8.5
85
95
85
60
®
98
84
88
88
1 00
(0
90
®
a)
a
..
December, 1887.—The fol¬
ing, made up from the statement issued by the Bureau of
Statistics, shows tne exports of domestic breadstulfs from th©
of
for
low
under-mentioned
tne
month of
months since
districts of the
customs
December in 1837
July 1, 1337
:
United States for
and 1336; ani for tne six
_.
^
THE CHRONICLE
112
Quantities
20,813
•
•
Wheat
Corn
Value.
•
•
•
•
226
158
42
oU
.
209,200
112,582
9
11
112,036
209,477
112,811
5.557.335
2,929,522
902,068
lr< 2,037
498,203
1,281,970
2,332,573
75.048
2,213,399
102,490
075,030
1,737.218
54,516
984,722
6,382,313
San F.&Wll’m’te
Other cus. dist’s*
20,525
9,970
159,528
96,030
Total, barley
Corn, bush.
20,525
9.970
ISO,341
New York
Boston
715.124
1<2/1 1
428.847
60.375
1,321,809
Philadelphia
127 047
517.053
440. >*82
17,0 j 8
240.043
294.718
249,112
549,087
12/48
111,233
2.308
92,300
632.743
200,164
65,902
20 L. 557
401,194
1,500
39,340
2,178.563
1,231,145
3,320,225
1,002,412
12,545,030
New York
11.98*2
35.435
35.003
Boston
14.3>'4
45
170
97
4;.098
19.019
12.197
200
30
501
60.388
70.825
1.3o6
3
90
9
733
107
dist’s*
1,974
5.211
3,571
9.950
15,336
37,534
Total, corn-meal
Oats, bush.
28,578
81.690
29,020
74,992
154,755
417,164
12.349
5,234
15,r>49
6,814
33,830
110
49
012
268
2,505
1,075
Npw Orleans
San F.&Wil’m’te
Other cus. dist's*
Total, corn
Corn-meal, bbls.
Philadelphia
Baltimore
New Orleans
Other
cus.
Boston
585,572
139,016
74,012
829.533
180
505
207
Philadelphia
Baltimore
New Orleans
San F.&Wil’m’te
Other cus. dist’s*
.....
..
29,379
191,548
181,739
3,091
2,174
478
20
8
85,72(5
1,219
3,7.30
1,322
52
32
52.)
350
51u
1,360
5r>5
5,521
2,711
8,855
4,072
49,022
28,315
24,321
7,211
17,980
7,994
27,093
12,209
170,250
08,172
New York
107,459
1,775
201.892
1,300,370
102,000
6,573
33.774
434.543
1,912,303
31,443
3.240
29U
7
Baltimore
New Orleans
San F.&Wd’m’te
Other cus. dist’s*
251,900
8,853
095.02,
20,880
045,819
22,299
0.400
5
199
5,000
1153
93,800
2.3,5
41,30-'
706,059
Total, oatmeal..
Hue, bush.
459.015
13,17/
Total, oats
Oatmeal, lbs.
50'
8.739
(5
81
1
1,436
,541
<
2,304,7:2
04,010
2,843,887
81,476
3 * ,240
20,100
5,097
3,576
New York
Boston
........
093
F./fc.YVil'u ’l*
tker cus. distV
An
Wheat, bush.
New York
Boston
Philadelphia...
Baltimore.
New Orleans
Pan F.&WH’m’te
Other cus. dist's*
Total, wheat
Wheat flour, bbl*
18.902
11,809
2,045.317
17.377,579
11,907
2.219,731
3,734,088
5.398/45
1,259,510
10.205,310
4,349/90
15.228.139
1,804,' 05
3,057,417
4,485,003
41,004,559
1,374.442
215.801
2.081,511
1,610.151
2,950.126
15,956
810.018
1.199,427
150,891
2.728.713
25.M0
22.500
108.609
741,299
1,074 5S4
143,0.0
2,310,408
90,549
4,226,310
3,619,374
7,981,731
7,023,121
529.5)04
170.382
<•3.0.3
231!. 133
4.305
102.550
2.301,130
985,293
2t >0,1411
409,760
1,063,932
7lo,34*
173,202
40.483
194.411
203.3-9
40.1 19
848
7,385
20,100
242.702
131.550
232.275
45.891
122,912
r
11,912
34,340
1.401.317
New York
Boston
2.309,282
1,038.029
9.222,338
3,333,118
38,279.309
10,110,431
6,107,325
1,500,774
7,430,425
,113,594
2,021,189
31,324
599.28?
181,000
1.010,694
348,040
1,520,708
24,952
497,513
430,0-5
5,318,737!
943.358 ; 4.185,800
0,201,972
0,026.488
Baltimore
4.146.803
1.301.070
458,005
1,' 09.044
Sun h .& Wil m'te
Other cus. dist V
2.06".3401
335,7t 0
3.011,400
320,842
28.505.913
7.683,8*0
4,005,745
12,672,152
2 015,28.0
11,437,2 10
6,: 32,099
lo.282.039;
13 045.340
73,642,939
Philadelphia
Baltimore
New Orleans
—
San F.&WiI m'te
Other cus. dist’s*
1.149.830
Tot al .wheat-tlo’r
144,367
40,827
156,857
7.500
145,772
38.209
1,102,179
20,3039),455
770,707
Totals.
Boston
Philadelphia
800,527
2.923.051
985,894
985,279
2,133.812
31 )*.* 871
Value of exports
1,945,147
28,289,885
from other customs districts for the month of Dec., 1887:
Prizes, Texas
$768
ChjiCHgo, Illinois
58,.‘>05
Detroit, Michigan
Xe.w 1 liven
Portland, Me
Uichmond, Va
Yorktown, Virginia
£5,300
80,227
157,975
Duluth, Minnesota
_.
88,1 25
Huron, Michigan
Total..
$335,709
Miami, Ohio
>
Note.—This statement Includes about 98 per cent of the entire exports of the
articles named fi’om all ports of the country.
The movement of breadstuffs to market is indicated in the
statement below, prepared by ug from the figures of the New
York Produce Exchange. We first give the receipts at Western
lake and river ports, arranged so as to* present the compara¬
tive movement for the week ending Jan, 14, 1888, and since
Receipts at—
Wheat.
Corn.
Oats.
-
Barley.
Rye.
BblsAWlbs Bush.it 01 bs Bush.56/h.; Bush.S'i lbs Bush AH lbs Bu. 50 Ihs
Chicago
Milwaukee.
Toledo
Detroit
Cleveland.
..
St. Louis
Peoria
175,534
203,551
731,177
551,017
31,573
140,118
7,920
41.000
1,093
21.485
3,928
3,505
51.187
36,822
40,42;
0,371
24.521
19,421
10,250
11.496
34.116
399,000
1,500
10,500
337,550
229,229
918,286
Same wk.*87.
218.212
1,574,530
Same wk.’86.
91,573
730,720
Since Aug 1.
1887-8
1836-7*
1885-0*
1,334,474
420,020
21,300
800,012
109,729
487,075
155,131
Total
*
0,178,220
3,303,002
8,270,100
0,730,001
grain...
Include
Bolow
week extra.
oue
the rail
are
shipments from Western lake and river
ports for four years:
Flour
Jan. 14.
349,807
251,354
..bush.
434,370
1,188,305
224,071
319.507
1,999,293
358,069
608,783
33,887
240,103
12,730
203,338
17,280
122,815
39,775
2,574,517
1,052,887
1,211,311
3,090,173
Rye
Week
shipments from
Flour
14; *88.
7, ’88.
31,’87.
24/87.
18,110
000
20,343
1,978
19,037
13,002
9,574
16
105,860
209,800
52.200
4.9*0
20,400
11,000
bush.
050,710
304,003
402,157 1,735,340 1,029,40L
440,209 1,105,743
773,207
303,783
730,407
Tot. 4 wks.. 1.456,108
4 weeks ’87.1,435,122
500,800 1,210,694
Rye,
bush.
bush.
*
33,887
310,010 30,780
311,909 32,000
321,700 40,011
258,215
1,003.001 5,300.099 3,102.815 1,237.881 137,323
807,270 52,1731,948,030 2,100,230 2,000,702
The receipts of flour and grain at the seaboard ports for the
week ended Jan. 14, 1888, follow.
Flour,
bbls.
At—
New York
Boston
Montreal.
162,235
49.140
5,165
Philadelphia... 11,908
Baltimore
40,320
Richmond
Norfolk, Va
New Orleans...
Wheat,
Corn,
Gals,
bush.
9 1,000
20.930
bash.
bush.
235,051
08,053
83,000
19,922
30,441
'
5,409
83,703
7,550
77.530
13.800
60.901
293,365
831,030
2,540
0,350
2.100
33,000
_
i
Wheat
Corn
Oats
25,870
12,306
13,032
505,237 157.050
531,381 100,838
401,751
83.9,500
*1880.
Jan*
1883.
1887.
573,901
025,287
752,852
bush.
008,304
1,01 1,180
1,737,830
2.070,051
1,128,055
1.313,189
4 89,903
7,740,230
1,790,920
303,950
191,570
592.973
23,221
20,042
39,518
0,885,533
1,009,522
439,807
09,721
3,137,7 / 0
5,374,082
10,059,100
11,410,829
Total grain....
Include
«»
.bids.
Barley
Uye
*
m, «,
100
The total receipts at tin same pirts for the period from
1 to Jan, 14, 1888, compare as follows for four years:
Flour:
_
4,250
0,724
14,492
Total week. 2.90,833
Cor. week 87.. 303,604
5.500-
290,000 115,000
82,730
2,204
17,472
9,050
R ye,
bush.
Barley"
basli.
*1885.
-
950,150
2,100/80
week extra.
one
from the several seabiard ports for the week
ending Jan. 14, 1888, are shown in the annexed statement:
The exports
Exports
Jr oin—
New York
Wheat.
Corn.
Bush.
Bash.
218,959
30,072
Boston.
Port land.
N. News
Oats.
Rye.
Pc is.
Bbls.
Bash
B a. sh.
B ash.
4,193
4,431
103,203
79,315
8,000
1,975
17,977
17,81 L
32,000
Pliiladel
Baltim’re
N. Orl’ns.
Rielim’d
Norfolk..
Flour.
151,102
107,828
10 245
29,557
0)0
_____
G: 90
.
::::::
Tot. w’k.
405,350
S’nie time
1887.
1,889,010
197,418
210,131
5,037
192,2 17
305
4,193
■
.
733,389
..
Flour.
1888.
to—
Week,
Wheat.
1887.
Week.
Jan. 15.
Jan. 14.
1888.
Jan. 14.
Bush.
Bush
Bbls.
Bbls.
Un.King.
157,116
148,501
Cont’nt..
5,181
17,134
2,572
149.951
18,902
1,092
S.&C.Am.
W. Indies
Brit, col’s
Otli.e’n’ts
20,271
9,5 / 3
825
10,541
5,321
Total...
210,131
192,247
1838.
1887.
Week.
Week,
Jan. 14.
Bash.
311,304 1,447,137
411,879
13,400
610
S/L0
0,750
2,2t;o
........
....
197,4 is
405,350 1,839,010
Jan. 15.
Bush.
105,970
........
350
We add the
Corn.
1887.
Week.
Jan 15.
Weeki
24,981
1,000
The destination of the exports is as below.
corresponding period of last year for comparison.
Exports
for week
:
1
—
576,321
150,109
2,207
4,342
410
733,389
By adding this week’s movement to our previous totals we
following statement of exports this season and last
have the
season :
Flour.
1,503,143
1,818,900
517,818
1,021,212
474,291
919,740
421,388
50,390
31.till
530,979
397,7c3
23,505
72.477,465
5,109,926
01,985,871
42,048.046
one
44.127,221
46.830,315
39,723.623
10,548.102
1,171,947
35,890,042
31.049,970
14.970,0:9
1,358,845
2,093,8o5
45,977,246
13,345,733
week extra.
comparative shipments of flour and grain from the same
ports from Jan. 1 to Jan. I t, 1888, inclusive, for four years,
as
Burley,
Oats,
bush.
bush.
43 L,370 1,188,305
310,807
377,855
port3 for last four
same
Corn,
'Wheat,
bids.
243,967
4 11,577
059,710
258,245
ending—
Jan. 17.
115,771
244,073
Barley
Total.
Week
Week
Jan 16.
,
518.809
630,572
Oats
The rail and lake
weeks were:
1885.
1836
..bbls.
Com
Jan.
Jan.
Dee.
Dec.
18S7.
Week
Week
Jan 15.
,
Wheat
1888.
Exports to—
Corn,
Wheat.
,
Sept. 1,’M7. Sept. 1,’86, Sept. 1,’87, Sept.. 1,’tO. Sept. 1,’S7, Sept. 1/8 a.
to Jan.
to Jan.
to Jan.
to Jan.
to Jan.
<0 Jail.
14, 1888.
13. 1887.
14, 1888.
.15, 1887.
14, 1888.
15,1887.
-
5.939.152
The
^how
1,351,102:
5,870,802
1,800,191
030,049
-
4,100.4 H
Include
595,150
001,255
01,070
375,020
Tot.wk. ’88.
*
273,002
104,727
89,275
Duluth
Minneapolis.
017,096
.1,089,111
Barley
Rye
July 24, for each of the last three years:
Flour.
"1885.
040,438
777.347
4,223,479
2,203,020
'
.
Grand total
*1880.
604,622
«
••••••*.
Baltimore
bush.
Oats
*
%
10,006
Boston
Philadelphia
Quantities
Quantities' Value.
%
Barley, bush.
727,002
Six Months.
1886.
Value.
bids.
Flour
1887.
1887.
18S8.
1887.
December.
Breadstuff s Expts
[Vol. XLVI,
follows:
Bbls.
Bbls.
Un. Kingdom
3,870,902
2,379.731
Continent...
217,948
378.652
233,452
S. &C. Am...
West Indies.
360,302
Brit. Col’uies
350,847
463,330
299,261
255,215
Oth. countr’s
12,825
19,251
4.691,476
3,00-5.243
Total
Bush.
Bush.
Bush.
Bush.
15,850,995
6,308,545
5,975.278 10.434,988
15,*-93
21,030
9,421
3,071
4,505
22,130
65,723
1,007,152
8,584,922
3,004,482
195,775
331,817
117,449
198,833
48,049
16,947
20,911
8,841,136
'
•
14,8 73.50 j
•
.
•
•
•
.
26.3/6,6/0
5,936
la,749.931
January 21,
THE CHRONICLE
18^8.]
supply of grain, comprising the stocks in granary
principal points of accumulation at lake and seaboard
ports, and in transit by water, Jan. 14, 1888 :
The visible
aat the
In store at—
New York
afloat
Do
Albany
Buffalo
“
Com,
bash.
bush.
Milwaukee
Rye,
bush.
Barley,
30,300
51.000
300,300
113,709
07,801
895,071
919,700
24,410
344,075
1,722,510 1 ,745,505
7,000
02,000
201,559
5,429,570
1,384.852
52,000
347,587
2,050,919
0,721,816
5,329
4,574
43,098
229,302
1,751,402
50,319
93,009
5,0S7
31,883
12,053
5,200
10,698
72,930
923
3,700
550,130
75,933
108,000
10,330
135,808
4,470
14,910
1,202,483
Detroit
03,000
Oswego
4,330,728
St. Louis
Cincinnati
Boston
Toronto
Montreal
20,000
182,422
102,397
193,150
508,560
Philadelphia
8,292
93,905
203,951
87,270
03,529
141,227
439,759
103,270
303,891
87,058
130,587
570,184
227,081
158,007
Peoria
Indianapolis
Kansas City
45,000
Baltimore
1,189,213
Minneapolis
7,051,00 1
i 05,000
41.800
8,571
1,220,744 1,280,021
214,000
83,000
241,833
103,082
22,475
22,000
709
m
m
m
m
m
m
40,778
2,070
•
m
•
m
m
on
account of back
orders.
Prices ruled firm all
along the line, and many prominent makes of brown sheet¬
ings, bleached goods, wide sheetings, &c., were subjected to a
Atlantic A sheetings
further advance.
bush.
13,153
7,000
8,333,527
144,000
2,200
2,296,ISO
afloat....
Duluth
Toledo
Oats,
bush.
107,890
270,300
afloat...
Chicago
“
Wheat,
movement
113
marked up to
were
7j^c. and Fruit of the Loom 4-4 bleached goods to 9^c.—the
highest figures at which these popu’ar fabrics have been
ed for
quo
Print cloths
time past.
some
in moderate
were
demand, and prices have again advanced because the mill
operatives have demanded increased wages, which they will
probably be able to obtain, thoueh perhaps not to the full
extent of their desires.
Extra64x64 cloths clo ed at 3>gc. and
56x60s at 3 5 16c., anl there was no pressure on the part of the
mills to sell even at thise figures,
Stocks lass Saturday and
for the three previous years were as follows :
1S88.
Jan.14.
of Print Cloths—
Hold by Providence nianuPrs.. 28,000
Stock
m
23,188
55,000
Total stock (pieces)
9,837
1885.
Jan. 17.
94,000
33,000
280,000
30,000
80,000
40,000
7,000
15,000
5,000
Fall River manufacturers...
Providence speculators
Outside speculators (cst)
1880.
Jan. 10.
1887.
Jan. 15.
42,000
40,000
208,000
439,000
419,000
320,000
300,000
1,478,000
413,000
Prints were in good demand and prices are very strong in
sympathy with printing cloths, and because of the exception¬
130,100
ally small stocks on hand. Wash dress fabrics, a* fling hams,
0,300
7,000
sateens, lawns, seerouckers, batistes, chambrays, &3„ were
fairly active and firm in pric-’, and there was a steady move¬
313.710
3.221.774
Tot. Jan. 14. ’88 43,248,132 0.737.400 5.080.010
ment in white goods and quilts.
300,058 3,328,203
Tot. Jan
7, ’88 43.S57.120 0,181.914 5,890,187
Tot. Jan. 15/87 02,825.500 15,708,850 4,807,139
457,750 2,524,007
Domestic Woolen Goods.—-The market for men’s-wear
700,152 2.000.882
Tot. Jan. 1(5, *80 57,108.280 7,070.000 2,292,193
woolens has shown very little improvement, buyers having
Tot. Jan. 17,’ ’85* 42,770,970 0,414,149 2,113,351
452,792 1,788,029
taken hold sparingly aLd with the utmost caution.
Over¬
Minneapolis and St. Paul not included.
coatings and neavy fall and winter suitings were rather more
According to Beerbohm’s London cablegram, the amount of sought after by clothiers, but operations averaged light, and
there was an irregular demand for worsteds, cassimeres and
wheat and corn on passage at the dates mentioned stood as
cheviots,
as was the case with satinets and Kentucky jeans.
follows:
Jersey cloths continued in steaiy request, and there was some
inquiry for fancy and staple cloakings. Wool and worsted
Week ending Jan. 11.
Week end big Ja n. 18.
dress goods were in fair r. quest, all-wool cashmeres ia par¬
Grain on Fas set ye.
Wheat.
Wheat.
|
Corn.
ticular having shown mor6 animation than for some time past
|
Corn.
b9?ause of a decision of the Secretary of the Treasury which
To United Kingdom .qrs.
1,110,000' 345,000
1,428,000 332,000
compels competing foreign fabrics containing a very slight
To Continent .1
191,000
77,000
190,000j 01,000 admixture
of cotton to pay the same duty as all-wool goods*;
Total quarters
l,030,0()()i 400,000 Flannels and blankets ruled quiet in first ban is and there was
1,019,000
409,000
13,040,000 3,248,000
St. Paul..
On Mississippi....
On canal & river.
*
-
12,952,000 3,272,000
25,080,000 3,840,000
Equal in bushels
The exports of wheat
are as below:
25,320,000 4,000,000
from India for the week, year and
reason
bush.!
120,000
pietty good orders for velvets ana seal plusnes were
placed—for later delivery—with importers. Linens and white
40,000! 12,440,000 goods were in moderate request and a fair distribution of
40,000j 11,72 ,000 hosiery and fabiic gloves was made by importers, while em¬
bush.'
200.000!
80,000! 24,100,000
Exports
J
Wheat Jfrom India.
1
ot
I
;
I
bush.
To United Kingdom
To Continent
Total
fair business in carpets.
Foreign Dry Goods.—There was a fair movement in wash
dre s fabrics, wool urtBS goods and a few other speci ltie3
on accjunt of former orders, but new business in this braoch
of the trade was restricted in volume.
Silks ruled quiet, but
a
Jan. 14.
(J I ^ Jan.
^ e}^
I. U\
1
SO.OOOj
Am
it 14.
1 to
Jan.
some
broideries have attracted rather more attention.
Importations of Dry Goods.
importations of dry goods at this port for the week
and the sime facts for
corresponding periods of last year are as follows :
The
THE
DRY
GOODS
New York,
TRADE.
Friday, January 20,18S3.
fairly active undertone in the dry goods trade
during the week under review, but the demand at first hands
was characterized by some irregularity, woolen goods having
been m re or less quiet, while a moderately good business
was done in most other fabrics adapted to the coming season.
There was a co ntinuation of the liberal movement reported
of late in staple cotton grids, prints, ginghams, white goods,
&c., large aggregate deliverijs having been made in this con¬
nection (on account of back ord rs) by the domestic commis¬
sion houses.
Foie'gn goods also were shipped in fair quanti.
ties on account of former transactions, but the demand for
both domestic and foreign clothing woolens was rather dis¬
appointing.
Comparatively few retailers have thus far
appeared in the market and the jobbing trade in the regular
way was consequently light, but a very fair package business
in domestics, piints, lawns, dr?ss goods, &c., was done by a
few of the principal jobbers.
Staple cotton goods, prints}
ginghams and printing cloths have developed even more
strength than reported of late, and many makes were sub.
jected to advanced quotations without appreciably checking
There
was a
ending Jan. 19, 1888, and since Jan. 1,
the
p
■-§
p-
»—>
p
from this
3
a
b :
o:
o
B
.
S!
C XT — C
o *- ?r r-
:
O
■
B
!3
•
® •
a
i
o
i
V
OX*
C
P
.
S
.
•
b
:
•
a>
•
cs
O
.
c •
B
a
O xc X
tOCiMtO-1
O'
»
XX
to
M-l
a- ox
CX'O.
M1010
|
XOicr.OtO
O-lO'tO-t
1
O'
h-*
K-
M
h-*
-1
—
J/
OX
I
10
to
-J
P
omoow
O' C 4- Ci Cl
-
J
-
j -1 — o
‘ ~
M M 10
10
-Im-IOXO
B
O'
(0
po
ci;
X
-
’
M
:
Cv
copoi p
k—*
Cl
M X
O O O'4- o
Om
tCOCif-4.
-1
X 5 X 10 to
M
00
M
o
Mxmoito
io
4- to OX O' Ci
vl
X ' — O' - J
O X O to 4-
c.
^toccioif-
v’l
ioox
to
tx
O'-l
IX -1
cc.hixh
^ (t- O' m ox
O'O
or Ci l X X
tv CO
O'0'O'M-.J
to
rotooepp.
b
4-
p'
.
-1
to
'zci
X O't
To -ix
tx O'o-i O'
mooxipox_
f—1
cotton goods
p.
lob
ox
valued at $277,858. Of this total China
has had 1,414 packages, valued at $70,474; and 1,638 packages,
valued at $106,731, have gone to South America.
For the
similar period of 1887 the exports to all port3 reached 6,999
packages, and in 1886 were 10,131 packages. Staple, plain
and colored cottons were in moderately good demand at the
hands of mill agents and large jobbers, and there was a liberal
c
hxixc.oi
X
C X
M
M
c*
Ci
m m
m
P
|
i
O'
b »p.
X
O O' O'
o
4-X4- O'-t
O' o X o to
cfj -i m
O to
G0 4*OOCl
X -J OX M o
X M
I
p.
to M
Cl Cl
i
ft-
-a-i.
Oi-JO'O Cl
tP O'O' Ci-1
4-
o
3
to
's
io
oox
*»
f-4
X -1
io
C ‘C X ^
bip
CO
M M to OX
X O M _ r-
oxc: o;
—
to to V» Ci O'
c
4- X O' — m
-t
f—*
M
M
v
ppOMX^
X
too
-1 Ci — o o
OOO-I o
10
CC
-J
o*ox
ox ^ o
ft—
OX-J 4-Cl
CV 4-
'IM^tCM
10
O' ZJ
tc C-
O tX — M o
tx XX O' to to
c c
coco; to
mV*
m
i o
|
M-l
be |
-1 M
ix o-ioxio
1
T.
O M
bx
ox
O' o ci
O' 0«- J-J —
X
~
J
1
CC 10
tx M
io
_m
——
’-Q
>5
2 ^
r ^ 1
Pbl
M ~
p
2—
xS’
cz£t
C O X
C'O
-4 O' M 4* to
c o
to to to O'Cl
M M X Ci 1X
cvb-ixTi
—
M M M M
4—
tv 4— \Jj v»
Ci
-IX
iO CO cc cc
p-I—MO
Mccbx®
-I0 0-1 M
Cl c
1 0-1-5 0 00
A- M
Ci to CIO to
-1 — 004-
O O ' O -1 ox
M
m
X
m
X' xf:
X M 4- | o
1
QDp
-I-IO'IXCI
O 10 Ci OX
M M
•
X
X
-J
r.p.p.4-
v'H
Ci
Ci
j
§
&
M
ci O'
.1
—
P'O
M^j
io
0 0X10 to
-1 X' 1X -1 Ci
C
Xp|
X-
X
CO X X OX O'
w
>
mO
M
to
x
CO
»—4
a
to57,
tv
M
ox
f
-s>
''Q
ft^
to ox
-1 to
c?
—
—
to to
OT -1
^
f-*
u r. ^ c r.
o
*M
K—
C. wl
iz n
j—
oi
C**M'IO
0-11X 0 to
xox
A>2
b
o
f
Q
to
?
10mm
o« -1»—
>p
ft-
c
to o;
f-twtSCM
M XX c to
to
‘1
C CC
Cl
to
10
to M
io
M
O' T.
r--1
ft-
mm
Ci Ci O'm m
to Ci m a- c
ccx
-uo
Ci M
to
b O' b>—
ox
ox
J
1
to
XX
X
m
O'O'MO^
w
io
to to PC. O'
(P — M h- o
10 Ci O' X iO
to
H
b
■
)•
o
MICMOO
c:c:occ;mc
c
C.IO
I M OX Ci to
hmocco
o: to
CJ« ^
-
b—
2 ^
b-lie
c tx o c: o
1—‘
•
MUmmH
mo
O'
v''
o
*
OtOOO-i
k—*
X
•
o
^ k—4
M
P
:
4-
CCi
M
-
2 ^P
•
{0
MOO
rr
COOOO
OX Ci to
to
H
O
I to OX 10
2
oo •
•
x
<C ox
U P
to
cc
-1
X
-i o»
: 4-
~
0*
>
>b ! 5-
CXt OX OX Ci O'
*
z
Sr*.
o;
02 ’
rt
o
—
o
1
ito
-no
o
tr
c
0'~\
b b
S?2L»|
3;
packages, valued at $144,730. These shipments include 607
to China, 534 to Sjuth America, 324 to the West Indies, 250
to the East Indies, 119 to Central America, 81 to Newfound,
land, 59 to Europe, 36 to Smyrna, 23 to Mexico and 85 to all
other countries. Since the 1st of January the exports aggre¬
—
a
o •
© !
port for the week ending January 1? were 2,118
gate 4,383 packages,
P"
C P
ft-
Goods.—The exports of
c
K
B
e
their sale.
Domestic Cotton
g
g
o
(—►
X
X
X
i
CHRONICLE.:
THE
114
IVol.;xlv£.
*
Brewster, Cobb
& Estabrook,
CONGRESS
THE
OF
STOCK
BOSTON
OF
STREET.
Street, Pittsburg, Pa
res
Exchanges.
Pittsburg Petroleum, Stock and Metal Exchange.
Private wires to New York, Boston, Philadelphia,
NEW YORK AND
EXCHANGES.
Baltimore and Washington.
ALSO,
municipal, State, Railroad
Dctlert in
Bonds.
and United Staten
Wm. G.
Irving A. Evans & Co.,
Hopper & Co.,
B ANKERS J AND
STATE
63
STREET,
Third
South
2S
BOSTON.
Street,
PHILADELPHIA.
NEW YORK AND
PHILADELPHIA STOCK EXCHANGES.
Itocki and
Bonds Bought
In all Markets.
and Sold
CENT WATER BONDS and
Direct private wire to
extended to customers.
Orders
purchase
sale of securities will
or
Foreign Exchange bought, and sold. Facilities for
keeping accounts in Sterling Exchange, subject to
draft in kind, will be afforded. The methods of re¬
ceiving such deposits and making payment against
them will be subject to arrangement.
THE NATIONAL PROVINCIAL BANK )
OF ENGLAND (Limited,)
>
TIIE UNION BANK OF LONDON (L’d),)
HEINE & CO
,
&
SOEHNE.j Fra“011 *
Berlin.
DEUTSCHSCHWFIZEKISCliECRED-)
IT BANK,
j
F.
Loudon,
Paris.
nril,
St. Gall.
BLANKENHORN, Cashier.
Bank of
Buffalo,
BUFFALO, N. Y.
York.
Wm. C. Cornwell, Cash’r.
8. S. Jewett, Pres.
$250,000
Capital....$300,000 I Surplua
STREET,
PROVIDENCE, R. I.
E. W. Clark &
Co.,
BANKERS AND BROKERS,
Dealers in Commercial Paper, Government and
Other flrst-class Bonds and Securities and Foreign
Exchange.
Private
for
receive careful attention.
Green. & Bateman, New
BANKERS AND BROKERS,
WEYBOSSET
$3,500,000
-
other flrst-class securities for sale.
Wilbour, Jackson & Co.,
52
YORK.
-
-
-
8. Bl/EICHROKDER,
Desirable SIX PER
THE
NEW
May 14, 1887.
s Bank is now opened for business.
Accounts
tfully solicited. The usual banking facilities
Charles H. Sheldon, Jr
Joshua Wilbour,
Benjamin A. Jackson, William Binnet, Jr.
No.
-
JOHANN G0LL
BOSTON,
OF
MEMBERS
Cashier.
DRAW ON
BROKERS,
BANKERS AND BROKERS,
No.
Blankenhorn,
H. A. Smith,
Assistant Cashier
New York,
MEMBERS
New York and Philadelphia Stock
OF
CITY
EXCHANGE,
AND DEALERS IN FOREIGN
F.
The Western National Bank
BANKERS AND BROKERS,
425 Wood
BOSTON.
MEMBERS
Co.,
Rea Bros. &
CAPITAL,
BANKERS,
35
Conrad N. Jordan,
President.
Charles J. Panda,
Vice-Prea’t.
PENNSYLVANIA.
NEW ENGLAND.
No.
Sanks.
Stokers ©ut of flew ‘Hark.
jankers ami
telegruph wire to New York and Boston.
No. 35 South Third St., Philadelphia.
Railroad, Municipal und other desirable Invest¬
ment Securities for sale.
Transact
a
general banking business.
Allow inter¬
This Bank has superior facilities for making Col¬
lections in and out of the city on the most liberal
terms, and with careful attention to the best inter¬
ests of its correspondents.
Traders’ Na¬
York;
Bank
Correspondents:—importers’ &
tional Bank and Chemical National Bank, New
Merchants’ Loan & Trust Co., Chicago; Union
of London, London.
est on deposits.
Swan &
New York Stock
Exchanges, and connected by private wire with New
Members of the Philadelphia and
Barrett,
Texas National
AND BROKERS,
186 Middle Street,
BANKERS
PORTLAND,
MAINE.
established
FOURTH AVENUE.
Oldest Pittsburgh members N.Y. Stock Exchange.
L.
Hartridge,
SAVANNAH, GA.,
WESTERN.
BROKER.
commission all classes of Stocks
and bonds
Negotiates loans on marketable securities.
New York Quotaiians furnished by private
every tittcen minutes.
References—A! lauta National Bank, Atlanta,Ga.,
Co.,
N.
W. Harris 8t
percent
charged for fur-ding, Southern Railroad
Bonds bought and sold.
BANKERS AND BROKERS,
Members of Baltimore Stock Exchange),
BALI DlOliE.
(INVESTMENT and SOUTHERN SKCUR.T K8 a
axHxuaity.)
Correspondence solicited
and infcreation fnr<
nl gned.
N. V. rorresuondetiis—McKim
BAKKERS,
7
SOUTH
STREET,
ISAI/T! MOISE,
f^^nAl'T
http://fraser.stlouisfed.org/
jfc.
Federal Reserve Bank of St. Louis
A
foreign
GENERAL DOMESTIC AND
banking business.
-
Investment Securities
fiOUtillT
AM)
mhih
Southern Central of N. Y. lata.’
Middletown Umonviiie & Wivier
STOCKS
AMO
ALISRxtT E.
Al>ltlA\
12.
5M t-’fiae
SATURDAYS.
A sox,
*
No. 1 PINE STREET. NEW YORK.
.Street.
Augustus Floyd,
It OVDS,
42
PINE
STREET,
broker
AND
m
HACa^FIWLD,
No,
ON
WEDNESDAYS
Gap 5s
indninapo.iB k Vmceiinea lots at.d Jiia.
SouiLo Val ey RunCs, uii ifcaUcs.
Undersigned hold REGULAR AUCTION
SALES, of all classes of
IXVESTJSi;X £'
No 15usiiie«*i
in
S-M.T.'ISITXSS.
Done
cm
Uurgins.
rtEKCKf.M’l/
Pres*t Am. EAchm ge Nat.-Bank.
Ch^., oi Vo'mi.jc & Co., ii inker?.
Messrs. M. A 11. Clarkson, R.u,4J Cu e Mreet.
Wm.
Messrs.
H. Dana A
publishers of the
Geo. S. Coe,
Brothers A Co.
Robert Garrett & Sons,
No.
iuun,
STOCKS and BONDS
At Auction.
The
Wilson, Colston 6t Co.y
If inane iat.
—
■‘U'ANTEDi
CIlVCINN tTi.
IS RANCH & CO.,
and State and City
Ex-Treasurer
BANKERS
AND
Circulars and informition on funding the debts of
Virginia and North c arolina tree of coHt; one-eighth
Wyman.
U.
Co.,
Counties, Cities,
BOM OS of
&c., of high
a
specialty.
tor f>,-«rrii»i
I ve graJe
I
Balti¬
COMMISSION MERCHANT?,
RICHMOND, VIRGINIA.
STREET. WASHINGTON, D. 0.
Reference: Hon. A.
U. S., Omaha, Neb.
George Eustis 6c Co.,
.
BANKS
per Annum.
Real Estate Strok era,
1405 F
CHICAGO and BOSTON.
8TATE BANK BUILDING
THOMAS
At a
West Third Street,
BANKERS? AND BROKER8,
BANKERS
OF
CINCINNATI, OHIO.
and Fourth Nath rial Bank, New York.
more,
Collections made on all Southern points on best
terms; prompt returns.
.JOHN P. BRAN' IT, I’re-ident.
Joun F. Gle.vn, Cash.
Fred. K. >cott, Vice-Pres.
GREEN & CUNNINGilAM,
No. 51
Correspondents—l'ubey & Kirk and A.mtenholer,
Kdw YorK.
VA
VIRGINIA.
RICHMOND,
STOCK, BOND AND NOTE BROKERS,
Bonds and Stocks bought or sold on commission.
Georgiu and s iat aina otcurii les specially dealt in.
connecting with Washington,
Philadelphia and New York.
HANK,
MERCHANTS’ NATIONAL
Co., NATIONAL
Charge <>r £5
H. B. Morehead &
DEALER IN ALL KINDS OF
RICHMOND,
*
WE SOLICIT THE AGENCY
SECURITIES.
Private wires
MADE.
ticxei
Humphreys Castleman,
C. W. Branch 6c
INVESTMENTS
AND
Correspondence invited.
Wm. Fairley
II. B. MORKUEAD.
A'J LANTA.
AND
Bank,
ANTONIO, TEXAS,
COLLECTIONS
57
SECURITY
BROKER
1871.
BANKERS AND BROKERS,
No.
Buys and sells, on
SAN
Whitney & Stephenson,
SOUTHERN.
A.
PA.
PITTSBURGH,
Dealers in Government,8tate,County, City and Rail*
road Bonds, Bank Stocks, Ac.
Desirable Investment Securities constantly on hand
A. A. A lexander, Cash’r.
J. S. Alexander, Pres.
York.
Donald Mackay
H. L.
No.
145
Grant,
finmnikrrinl X Kii'iieei <•
BKOADWAIj
NEW
Joseph G. Martin,
YORK.
CITY RAILROAfi SIDLES & BOND*
BOUGHT
L ND
SOLD.
See Quotation* of City Rai roads In
this paper.
mel,'.
STOCK
AND
BROKER,
EALER IN INVESTMENT
No, 10 St
SECURITIES
Street, Bo»lon,
@FedFRASER