The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
H U N T’ S M E R C H A N TS’ M A G A Z IN E ,
&
W r r k ljj
REPRESENTING THE IN D U STR IA L
VOL 4 4
Ifitumcial.
- A M ER IC A N
Bank N ote C om pany,
TO
86 TRINITY PLACE,
NEW YORK.
BnslneM Founded 1795.
Incorporated under law, of State of New Yerk, 18ML
Reorganized 18 T9.
E ngravers and P rinters op
B0ND8, POSTAGE & REVENUE STAMPS,
LEGAL TENDER AND NATIONAL BANK
NOTES of the UNITED STATES| and for
Foreign Governments,
4
ENGRAVING AND PRINTING,
Sa n e n o t e s , s h a r e c e r t i f i c a t e s , b o n d s
FOB GOVERNMENTS AND CORPORATIONS,
DRAFTS, CHECKS, BILLS OF EXCHANGE,
STAMPS, Ac., In the finest and most artlstlo style
FROM STEEL PLATES,
■nth SPECIAL SAFEGUARDS to PREVENT COUNTERFEITDKk
Special papers manufactured exclusively for
use of the Company*
SAFETY COLORS.
SAFETY PAPERS*
Work Executed In Fireproof Buildings.
LITHOGRAPHIC AND TYPE PRINTING.
SAIL W A T TICKETS OF IMPROVED STYUDL
Show Cards, Labels, Calendars.
BLANK BOOKS O F EVERY DESCRIPTION
ALBER T G. GOODALL, President
VICE-PRESIDENTS i
JL MACDONOUGH,
A. 0. SHEPARD,
W . M. SM ILLIE.
T0UR 0 ROBERTSON.
TH EO . H. FREELAN D, Sect’y and TreM t
Maverick National Bank
BO STO N ,
C A P IT A L ,
SU R PLU S,
-
AND COMMERCIAL INTERESTS OF THE UNITED STATES
N E W YORK, JAN U A R Y 22, 1887.
Ifiuaujcial.
78
p tw fp a p u ,
M ASS.
-
-
$ 4 0 0 ,0 0 0
$ 4 0 0 ,0 0 0
DIAMONDS.
Alfred H. Smith & Co.,
iIM PORTERS,
~W. P. Wight & Co.,
72 B roadw ay,
STOCK B R O K E R S«
Miscellaneous Securities bought
sold for cash or on margin.
kfS^h>‘ar^I<l ? T'w v* i.
J.B , CRKtGHTON.
«m nb. N.Y. Stock Bxch.
a . B. Cl a f l i n , Spcc’l
STOCK
BROKER.
Lansdale Boardman,
NRW Y O R K , 80 BBOADWAY A 5 NEW 8T.
T r o y , n , y . , y », i ? f ir s t s t r e e t .
toek fix oh. membership: private wlre j all
Geo. K. Sistare’s Sons,
16 &18 B road Street, N ew Y o r k .
121 South T h ird Street, P h ila d e lp h ia.
Connected by Private Wire with mala office. New
York.
DEALERS IN
F IR S T -C L A S S IN V E S T M E N T S .
oiPuya“d8e119n Commission, for eash or on margin
ah securities dealt in at the New York 8took Ex
Change.
Interest allowed on daily balances.
deposits subject to check at sight.
Particular attention to orders by mail or telegram
SOLID SILVER.
GORHAM M’t’g Co.,
7 2 B roadw ay,
**13 New Street.
(Members of the N. Y. Stock Exchange.)
Buy and sell Stocks and Bonds for cash or on mar»
interest allowed on deposits* Correspondence
solicited.
, JOHN F. DOUGLAS,
or the late firm of Lawson. Douglas Co.
T
WILLARD H. j 6 n B87
Late of W.S.Lawson & Co., Member N. Y.Stook Bxoh
Douglas & Jones,
Broadway and Nineteenth Street,
AND 9 MAIDEN LANE.
A
A. L. Hartridge,
Floyd-Jones & Robison,
B A R K E R S AND B R O K E R S ,
No# 2 E xch an ge Court, New Y o r k .
Stocks, Bonds and U. 8. Government Securities
Bought and Sold on Commission.
Wm. C. Floyd-jonus,
W il l ia m Robison
Members New York Stock Exchange.
J. A. Kohn & Co.,
BAN K ERS AND B R O K E R S,
Roberts & Schwarz,
JOS, W . W O R K , Cashier,
‘gitmuti&X.
182 Broadway, Cor. J o in Street
Accounts o f Banks, Bankers and Corporations (M il l s B u il d in g ), 19 B R O AID S T ., N. Y ,
solicited.
Members of the New York Stock Exchange.
Execute orders on commission for Bonds, Stocks
Our facilities fo r COLLECTIONS are excellent
and
Foreign Exchange.
and we re-discount fo r banks when balances war- i
D ealers In first-class Investment Securities,
rant it.
Particular attention given to investments for Cap
Boston is a reserve city, and balances with ns from italists,
Trust Funds and Institutions.
banks (not looated in other reserve cities) count as a
reserve.
S. M. R o b e r t s ,
P a u l Sc h w a r z .
We draw our own exchange on London and the
Continent, and make Cable transfers and plaoe
money by telegraph throughout the United States
•nd Canada.;
(K IL L S B U IL D IN G ,)
Government Bonds bought and sold, and exchanges
h» Washington made for banks without extra charge
IN V E S T M E N T S E C U R IT IE S .
We have a market for prime first-class Investment
Securities, and invite proposals from States, Conn*
We make a specialty of the buying, selling and
ties and Cities, when issuing bonds.
LW e do a general banking business, and invite cor» placing of first mortgage bonds of railroads, water
works, gas works and other flrst-olass corporations.
respondence.
ASA P . P O T T E R , President.
NO. 1.12fi.
We solicit correspondence.
S A V A N N A H , G A .,
SECURITY BRO K ER.
Buys and sells on commission all classes of Stocks
ana Jsonas.
Negotiates loans on marketable securities.*
^*ewYork Quotations furnished by private ticker
every fifteen minutes.
Chrystie & Janney,
BANKERS,
Nos. 23 A 25 Nassau St,, N ew Y o r k ,
Receive deposits and consignments of Bullion.
Deal in Investment Securities and Foreign Ex
change and invite correspondence.
Inv^tme“ | ^ t‘fen8f i^ ^ ^ o r m a t t o n regarding
J. C. Walcott & Co.,
BANKERS AND BROKERS,
N o. 2 4 P in e Street, N ew Y o r k .
Transact a General Banking Business
Stocks and Bonds bought and sold on Commission,
Orders received in Mining Stocks, and in Unlisted
Securities. Collections made and loans negotiated.
Dividends and Interest oolleoted.
Deposits received subject to Draft.
Interest allowed. Investment securities a specialty
We Issue a Financial Report weekly.
Jog. 0 . W a l c o t t ,
Members of the New York
Fr a n k F. D ic k in so n , f
Stock H iehann
)
H. B. Hollins & Co.,
BANKERS
18 W A L L and 3 NASSAU S T R E E T S ,
NEW YORK»
48 W A L L S T R E E T ,
Transact a General Banking Business,
(Bank of New York Building).
DEALERS IN GOVERNMENT, MUNICIPAL AND
Bonds and Stocks bought and sold at the New
RAILROAD SECURITIES.
York Stock Exchange.
DEMAND DEPOSIT ACCOUNTS RECEIVED.
BONDS AND INVESTMENT SECURITIES FOR INTEREST ALLOWED ON DAILY BALANCES
SALE
William T. Meredith,
L .C . LATHROP. OSCAR B. SMITH. J, H.OUPHANT.
Lathrop, Smith & Oliphant,
Wa lsto n H . B r o w n .
Fr x d .
H n r b x r t P . Br o w n .
a. brow n.
Walston H. Brown & Bro»
BANKERS AN D BROKERS,
37 BROAD S T „ NEW Y O R K ,
6 PAC IFIC ATE,, CHICAGO.
Members New Tork Stock Exchange, New York
Cotton Exchange, and Board of Trade, Chicago,
BANKERS,
NO. 2 0 NASSAU S T R E E T ,
NEW YORK,
tVoL. XLTV.
THE CHRONICLE.
il
§XKVOZXB o f f f o r j e i g u
'SVLVLktVS
g s cfta ttg * .
THE
Drexel, Morgan & Co., August Belmont & Co., I N V E S T M E N T CO.
BANKERS,
WALL STREET, CORNER OF BROAD,
N o. 12 P in e Street,
o f Philadelphia.
NEW YO R K .
ISSUE T R A V E L E R S ’ CREDITS, available In all
paru o f the W orld, through
Drexel & Co., _ D r e x e l,H a r je s A Co Messrs. N. M. Rothschild Ac Sons, London. 3 1 0 C H E S T N U T
Qor. of Btb A Chestnut SU. 81 Boulevard Haussmann,
P H I L A D E L P H I A __
P A R IS ,
D 0X E 81I0 AND FOREIGN BANKERS.
Deposits received subject to Draft. Securities
bought and sold on commission. Interest allowed on
Deposits. Foreign Exchange. Commercial Credits.
O a t o Transfers.
Circular Letters fo r Travelers,
available In all parU o f the world, j
A ttorneys
de Rothschild Bros., Paris,
Capital, 92 ,000,000 Fall paid.
m , a . d e Rothschild Ac Sons, Prank*
Buys and sells Bills o f Exchange, drawing on
fort o\m.
Baring
Bros. & Co., London, also on Paris and
S. M. de Rothschild, Esq., Vienna.
Berlin.
.
, ..
s
AND THEIR CORRESPONDENTS.
Draw Bills o f Exchange on, and make Cable Transfers to, England, France and Germany.___________ _
J. & W. Seligman & Co.
[B A N K E R S
a n d a g e n t s of
Dieserà. J , S. M O RG AN & CO.,
No. 22 OLD BROAD STREET, LONDON.
Brown Brothers & Co.,
Philadelphia,
New York,
STREET.
«
Boston,
AND
A L E X A N D E R H R O W N & SONS
BALTIM ORE.
Members o f New York, Philadelphia and Baltimore
Stock Exchanges.
Execute orders fo r all Investment securities. Buy
and sell Bills o f Exchange on Great Britain and
Ireland, France, Germany, Belgium, Holland,
Switzerland. Norway, Denmark, Sweden,
Australia, St, Thomas, St. Croix ana
British West Indies.
NO. '2 3
RROAD STR EET.
New Y o r k .
Issue Letters of Credit for Travelers
On SELIGMAN BROTHER8, London.
SELIGMAN FRERES & CIE, Paris.
SELIGMAN A STETTHE1MER, Frankfurt.
ALSBERG, GOLDBERG & CO., Amsterdam.
ALTM AN & 8TETTHE1MER Berlin,
Payable In any part o f Europe, Asia, Africa, Aus
tralia and America.
. _ .
. .
Draw Bills o f Exchange and make Telegraphic
Transfers Of Money on Europe and California.
ALEXANDER BARING.
Member N. Y. Stock E xch’ge
K e n n e d y T od ,
.. o . NORTHCOTB
J. Kennedy Tod & Co.,
No. 68 WILLIAM STREET,
BANKERS.
Available In any part o f the world, : F hanos for
use In Martinique and Guadeloupe, and in dollar* for
use n this country, CanaHa, Mexico and W est Indies.
Make telegraphic transfers o f money between this
country. Europe and British and Damt-li W est Indies. Make oolleci Ions o f drafts dr twn abroad on all
points In the United States and Canada, and o f
drafts drawn in the United States on foreign coun-
A ct as AgenU fo r Banks, Bankers and Railroad
Companies.
. . .
. .
__.. .
Issue commercial credlU, also foreign and domestic
travelers’ letters o f credit In pounds sterling & dollars.
Offer Investm ent Securities.
Buy and sell bonds, stocks and securities In all Am
erican, Canadian, British and Dutch markets on com
mission. Collect dividends, coupons and foreign ana
Inland Drafts.
. _ ,
Sell Bills o f Exchange on
T. & J. Stuart & Co.,
Heidelbach,
Ickelheimer & Co.,
29 W IL L IA M
Cor. Exchange Plaoe,
Issu e Com m ercial A Travelers* Credits
IN STERLING,
1-1Their London house, Messrs, BROWN, SHIPLEY
A CO.« receive accounts o f American banks« firms
and individuals upon favorable learns._________ ____
A cts as Financial A gent In the negotiating and
marketing o f Securities. Deals In Bonds—Corpora
tion, Railroad, State, Municipal, &c Executes orders
on commission In Bonds, Stocks, &c Collects interest
and dividends. Receives money on deposit, allow
ing interest. A s desirable Investments oner, will
issue its Debenture Bonds, secured by its capital and
assets.
rm cERS.
W ILLIAM BROCKIE, President.
W H ARTON B A R K E R , V ice-P esident.
H ENRY M. HOYT, JR., Treasurer.
ETH ELB E RT W ATTS, Secretary.
Board o f Directors—William Brockie, George 8.
Pepper, Morton McMichael, Wharton Barker, Henry
C. Gibson, T. Wlstar Brown, William Potter.
Advisory Committee o f Stockholders.—George M.
Troutman, Gustavus English, Isaac H . Clothier,
William Pepper, M .D.. Thomas Dolan, John G.
Reading, Joseph E. Gillingham, John Wanamaker.
Henry E. 8mith, Charles B. W right, Henry Lewie,
Craige Lippincott,Hamilton Disston, Clayton French ,
Francis Kawle.
MELVILLE, E V A N S * c o ” 1LONDON.
C. J. HAMBRO As SON,
MARCUARD, KRAUS» Ac CO., i PABI8.
HOTTINGUER Ac CO.,_________ I
FOREIGN
STREET,
NEW YORK.
RANKERS.
BUY AND D R A W BILLS OF EXCHANGE,
MAKE CABLE TRANSFERS, ISSUE T R A V E L ERS’ CREDITS.
ISSUE COMMERCIAL CREDITS, A V A IL A B L E
IN A L L PA RT S OF TH E W ORLD, ON
Messrs. C. J. Hambro & Son. London.
s p e c ia l
îu fije s t m je u t s .
33 NASSAU S T R E E T .
J
BILLS OF EXCHANGE ON
SMITH«
PAYNE
de S M I T H ’ S,
BANKERS, LONDON
M ANCHESTER
& COUNTY R A N K ,
"L IM IT E D ,”
MANCHESTER, P A Y A B L E IN LONDON
ULSTER
R A N K IN G
C O M P A N Y,
BELFAST, IR ELA N D)
AND ON THE
N A T IO N A L
BANK
OF
SCOTLAND,
EDINBURGH
AND BRANCHES;
ALSO,
CABLE TRANSFERS AND LBTTKR8 OF CREDIT
& Co.,
J ohn M unroe
“ n o . 82 Nassau Street, New Y o ik .
N o. 4 Poet Office Square, B oston.
lain e Circular Letters o f Credit for Travelers’ Use
Abroad against Cash or Satisfactory
Guaranty o f Re-payment,
E x ch an ge on L o n d on , P aris, B erlin
an d Z u rlck .
Cr e d it s
o pened a n d
P a y m en ts Ma d e
b y cable.
P aris H o u se »M U N R O E Ac CO.
Schulz & Ruckgaber,
BANKERS
29 W IL L IA M ST R E E T, N E W YO R K
CORRESPONDENTS OP THE
In tern ation a l B an k o f London
(L im ited ), Lon don .
H e u r i . J o k n Berenberg, Goesler Ac Co
H a m b u rg .
M e u re . M arcu ard, K rau se Ac C o., Parle
Commercial and Travelers’ Credits.
Bills o f Exchange.
Cable Transfers.
Unger, Smithers & Co.
B A N K E R S AND B R O K E R S ,
Members o f the New York Stock Exchange^
O b a le r s in F o reig n Ex c h a n g e , Go ve r n m e n t
a n d o t h e r I nvestm en t B onds .
STERLING LOANS A SPECIALTY.
John Paton & Co.,
Kanawha & Ohio Railroad First 6s.
SUCCESSORS TO
J E S U P , P A T O N & COM
52
W illia m Street, New Y o r k .
Accounts and Agency o f Bijaks, Corporations
Arms and individuals received upon favorable terms
Dividends and Interest collected and remitted.
A ct as agenU for corporations in paying coupons
and dividends s also as transfer agents.
Bonds, stocks and securities bought and sold on
commission, at the Stock Exchange or elsewhere.
Sterling Exchange and Cable Transfers bought and
sold.
DRAW ON
TH E UNION BANK OF LONDON
Kanawha A Ohio
ferred Stocks.
Common & Pre
Continental Construction Stock.
Pensacola & Atlantic Railroad Stock.
BOUGHT AND SOLD BY
T O B E Y
A
K I R K ,
BRITISH LINEN CO. BANK, LONDON AND
SCOTLAND.
___________
4 AN D 6 B R O A D S T R E E T ,
G eo . Co p p e l l .
T h o s . M a it l a n d ,
G e r a l d L. H o y t , Member N. Y. Stock JSxch.
NEW YO RK.
Maitland, Phelps & Co., Geo. H. Prentiss & Co.,
B
A
N
K E
AND
COMMISSION
22
R
S
NO. 4 9 W A L L S T ., N E W Y O R K ,
AND
MERCHANTS,
208 M O N TAG U E S T ., B R O O K L Y N .
Ac 2 4 E xch an ge Place,
New Y ork .
GAS
BILLS OF EXCHANGE, LETTERS OF CREDIT
TELEGRAPH IC TRANSFERS OF MONEY ON
LONDON, PARIS, MEXICO, CUBA, Ac.. Ac.
Kidder, Peabody & Co.,
FOREIGN BANKERS,
STO CKS
AND
GAS
S E C U R IT IE S ,
Street Railroad Stocks and Bondi
a n d a l l k in d s
1 Nassau Street, New York,
113 Devonshire Street, Boston
BROOKLYN
or
S E C U R IT IE S
DEALT
IN .
ATTORNEYS AND AGENTS OP
Him GAS QUOTATIONS IN THIS PAPHB.
Messrs. BARING BROS. & CO., London
Gko. H . P r e n t iss . W . B. P r e n t iss . W . W . W alsh
Member N.Y.Stock Exch.
C O M M E R C IA L C R E D IT S ,
First Mortgage 6 Per Cent Gold Bonds
Circular Credits for Travelers.
(912,000 PER MILE),
4 4 W a ll St. and 62 Greene St. N. Y .
C a b l e T r a n s f e r s a n d B il l s o f E x c h a n g e
G b e a t B r it a in a n d t h e Co n t in e n t .
C a n ad ian B a n k o f C om m erce
BANKERS,
120 B r o a d w a y , E qu ita b le Building, New York
L E T T E R S OF C R E D IT AND
C I R C U L A R NO TES
m tu isn oV ca rri“ ^ W erecòm m en d these bonds as
Buy and sell on commission, for investment or on
■targln, all securities dealt In at the New York Stock
KOUNTZE
Ca p i t a l , $«,000,000.
Su r p l u s , $1,600,000.
i . U. GOAl)BY A ALEX. LAIRD,
AGENTS^
1 « EXCHANGE PLACE, N E W YO R K
BU Y AND SELL STERLING EXCHANGE, CABLE
TRANSFERS, ETC.
SSUES COMMERCIAL CREDITS, A V A IL A B L E
p
IN A L L PA R TS OF TH E WORLD.
BR O TH ERS,
on
JACKSONVILLE TAMPA & KEY WEST
RAILWAY COMPANY.
Issue limited to $1,556,0CK).
Principal due W 4 .
Isiued fo r the use o f travelers in all parti o f the ^ cu re d b ^ ^ r g e a n d rapidly increaslng t ^ g b
world. Bills drawn on the Union Bank o f London, and local business. Price, par and ac®™eA 1“ i ere8t
Telegraphic transfer! made to London and to various
Pamphlets and copies o f mortgage furnished.
places in the United States. Deposits received sub
R . A . L A N C A ST E R * CO#
ject to check at sight, and interest allowed on bal
ances. Government and other bonds and investment
1 0 W a ll Street.
securities bought and sold on commission.
THE
22, 1887,]
Ja n u a r y
CHKONLCLE,
«1
%KxCkzxs and growers in gtew f o t l i (ftttg.
F. E. Trowbridge,
Taintor & Holt,
B AN KER AND BROKER,
BANKERS,
Nos. 3 & 5 B road |or 2 9 W a ll Streets.
No. 11 W a ll S t., Cor. N ew , N ew Y o r k
(B r a n c h Office , 290 B r o a d w a y .)
TRANSACT a GENERAL BANKING business.
DEPOSITS received and INTEREST allowed on
balances.
Buy and sell GOVERNMENT, MUNICIPAL and
RAILROAD Securities.
Private telegraph wires to ProvideHce and Boston
Member o f the New York Stock Exchange. Di
rector o f Merchants’ Exchange National Bank,
American Savings Bank, American Safe Deposit
Company. Ac., Ac.
Securities bought and sold on commission, for
cash or on margin. Ail inquiries gratuitously responded to. Correspondence solicited.
J a m * s W h it e r y ,
h . Cr d o e r o a r r e t ,
Ma y n a r d C. E y r e .
H e n r y H. Do dg e , Washington, D. 0,
W m . R. T r a v e r s , Special Partner.
G. E. TAINTOR.
GEO. H . HOLT
____
G. D. L ’H U ILIER.
Gorham, Turner & Co.
BANKERS AND BROKERS,
Prince & Whitely,
No. 6 4 B R O A D W A Y , N E W
m ills B a ll d in s, 35 W a ll St., N ew Y ork
YORE.
B r a n c h o fficer i 180 Fl*** A ve., New York.
BRANCH
} 539 15th 8t., Washington, D.<
Buy and sell on commission all classes o f Railroad
Securities; also Grain and Provisions.
Private Telegraph wires to Philadelphia, Wilmln#
ton, Baltimore, Washington, Bridgeport, New Havei
Boston and Pittsburg.
A u stin G. G o r h a m .
Ch a s . W . T u r n e r ,
C h a s . C. N o b l e .
M em b er N. Y . Stoek E x ch
R. J. Kimball & Co.,
BANKERS AND BROKERS,
E. L. Oppenheim & Co.,
17 Years’ Membership New York Stoek Exchange.
Members Philadelphia Stock Exchange.
[ESTABLISHED 1862],
Nos. 16 A 18 B road Street, N ew Y ork
BANKERS AND BROKERS,
Buy and sell on commission, fo r investment or on
margin, all securities dealt in at tue N.Y. Stock Exch.
Ro bert J, Kim b a l l .
A l f r e d B. Lo u n sbkrv
51 & 53 New Street and 42 Broadway.
W. H. Dic k in s o n ,
Ed w a r d
Member N. Y. Stoek Exchange.
B r a n c h Office , 91 L e o n a r d St r e e t .
Edward L. Oppenheim.
p
. A l l in g
Dickinson & Ailing,
W alter Del. Mar
WM. V. Caro lie,
CHARLES F. COX
Member N. Ÿ. Stock Exohange.
BANKERS
AND
BROKERS
No. 30 Pine Street, New Y o rk .
Carolin & Cox,
Buy and sell at N. Y. Stock Exchange, fo r IN
VESTMENT or on MARGIN, all classes o f Stocks
and Bonds, and allow interest on deposits, subject to
meek at sight.
B ankers Sc C om m ission Stock Broker*
N o. 55 B RO AD W A Y,
Branch Office,816 Madison Av., eor. 42d St., New York
Deposits received subject to cheek at sight, and
Interest allowed on daily balances. A ll Stocks and
Securities dealt in at the New York Stock Exchange
bought and sold on Commission, for Cash or upon
Margin.
Alexander Campbell & Co.,
AND
BRO KERS.
SUCCESSORS TO
WOOD
&
D A V IS .
Execute orders in all securities listed at the New
Vork Stoek Exchange. For Sale:
* irst -Cl a s s R a il r o a d F ir s t M o r t g a g e B o n d s .
GEORGE C. WOOD. C .H . HUESTIS. L. M. SWAN.
Hamilton & Bishop,
„
BANKERS AND BROKERS,
N o . 3 5 P IN E S T R E E T , N E W Y O R K .
(Members New York Stock Exchange.)
t Accounts o f Banks, Bankers and others received,
interest allowed on balances. A strictly Commission
Business in the purchase and sale o f stocks and bonds,
d „ V 14*0 Telegraph Wire to Albany,Troy, Syracuse.
Rochester, Utlca, Buffalo, Cleveland and Chicago.
“ raw on City Bank o f London in amounts to suit.
ppeciai attention given to Securities fo r investment.
W. H. Goadby & Co.,
BANKERS AND'.tBROKERS,
N o . 2 4 B R :© T*D 8 T R E E 1 ,
N e w .Y s i k .
AND
246 C LARK STREET, CHICAGO, IL L .
Albert Pearce,
16 Sc 18 B R O A D S T .,
BROKER IN A L L
KINDS
OF INVESTMENT
BONDS, MISCELLANEOUS SECURITIES
AND DEFAULTED BONDS
_______ CORRESPONDENCE SOLICITED.
JAMES T . Cl OSSON.
J o h n B. D um o n t
H e m a n Cl a r k , Special Partner.
Closson & Dumont,
BANKERS AND BROKERS.
No. 4 0 W a ll Street, N ew Y o r k .
All stocks and securities dealt in at the New York
Stock Exchange bought and sold on commission, fo r
cash or on margin. Deposits received and interest
allowed on balances.
Simon Borg & Co.,
No. 17
NASSAU
S T ., N E W Y O R K
DEALERS IN A L L KINDS OF
Railroad and Investment Securities!
So u t h e r n S e c u r it ie s
a
Sp e c ia l t y .
A. Dutenhofer,
BANKERS AND BROKERS,
Gilman, Son & Co.,
No. 10 W A D I. S T ., N E W Y O R K .
Orders for Stocks and Bonds executed at all
Exchanges.
Especial attention given to supplying high-class
IN V E S T M E N T S E C U R IT IE S .
N o. 6 2
BANKERS,
CEDAR STR EET.
In addition to a General Banking Business, Buy
>nd Sell Government Bonds and Investment Securlaes.
H. L. Grant,
N o.
145
B R O A D W A Y ,
NEW
o 6 Co.
N o.
B A N K E R S , '
18 W A U L
S T R E E T ,
N ew Y o r k .
Transact a General Banking Business, including
the purchase and sale o f STOCKS and BONDS fo r
cash or on margin.
B u y and Sell In vestm en t Securities.
A. M. K id d e r ,
w atland
T r a s k . H . J. M orse .
W . C. H il l
BOUGHT AND SOLD,
See Quotations o f City Railroads in this paper.
Jo h n H o w a r d L a t h a m , F r e d e r ic k W. P p r r y
Member o f N. Y . Stock Exchange.
J. H. Latham & Co.,
UNITED BANK BUILDING,
No. 2 W A L L S T R E E T , N E W Y O R R ^
city . County, State, Railroad,District o f Columbia
Ronds and Foreign Exchange, and all Securities
listed in N. Y. Stock Exchange.
J. L. Robertson,
A Je licitcm
& C
YORK.
CITY RAILROAD STOCKS & BONDS
Wood, Huestis & Co., J S o o c lii ©
31 PINE STREET, NEW YORK,
BANKERS
Members N. Y. Stoek Exohange.
11 W A L L STREET, NEW YORK*
MILLS BUILDING (6d Floor,)
Rooms 25 & 20.
33 W A LL STREET.
STATE AND CITY BONDS OF GEORGIA, ALSO
SECURITIES OF TH E CENTRAL R R . & BANK
ING CO. OF GEORGIA A SPECIALTY.
Investors wishing to buy or sell are invited to oall
or correspond. Prompt and personal attention given
to all orders.
CHAS. J. TOWN8BND,
LANSING C. WASHBURN.
Member N.Y. Stock Exchange.
J n o . P. T o w n sen d , Special Partner.
Stocks and Bonds Bought and Sold on Commission
for cash or on margin.
Special attention given to Unlisted Securities.
Deposits received subject to Cheok at Sight.
,____ _______ Correspondence Solicited.
BANKERS AND BROKERS,
B A N K E R AND B R O K E R ,
16 & 18 BROAD ST., NEW YORK.
Twenty years’ experience in Railroad Bonds. P ai«
ties desiring to buy or sell Uncurrent Bonds wli[
please communicate.
Stocks bought in Fractional Lots or otherwise,
either for Cash or on Margin.
F. H. Sm it h , ( Members Consolidated Stoek and
8. W. 8 m it h , * Petroleum Exchange. New York.
BANKERS AND BROKERS,
No. 6 W a ll Street, N ew Y o r k .
'
AND
No. 2 0 R R O A D S T ., N E W Y O R K .
Townsend & Washburn,
Frank C. Hollins & Co.,
Dealer in Miscellaneous Securities,
John H. Davis & Co.,
BANKER & BROKER,
I.H .W a g g o n e r
(16 Vears’ Membership in the N.Y. Stoek Exohange)
17 NASSAU S T R E E T , N E W Y O R K .
Fred. H. Smith,
. E m erson ,
BROKER
Transacts a general Banking business, including the
purchase and sale o f stocks and bonds fo r cash or or
margin.
Ca m p b e l l , Member o f N. \ . Stock E xch.
e .h
C. J. Turner,
BANKERS AND BROKERS,
maxcorm
F.C . H o l l in s .
oh
B A N K E R S ,
5 8 B r o a d w a y , c o r . E x c h a n g e P la c e , N . Y .
B r a n c h O ffice, 2 4 1 L a S a l l e S t .. C h ic a g o ,
TRANSACT A GENERAL BANKING BUSINESS,
INCLUDING TH E PURCHASE AND SALE OF
STOCKS AND BONDS FOR CASH OR ON MAR
GIN. BUY AND SELL INVESTMENT SECURI
TIES. INTEREST ALLOW ED ON DEPOSITS
SUBJECT TO CHECK A T SIGHT.
P. 0 . Box 447.
D. A . BOODY.
C. W . McL e l l a n .
R eu ben L e l a n d .
<5 fX ^ a lloxv & .d S JS j
BANKERS,
UNITED BANK BUILDING,
W a ll Street, corner B roa d w a y.
STOCKS, BOXDS <t COMMERCIAL PAPER
Stocks and Bonds bought and sold on commission
at Mew York Stock Exchange. Advances made on
business paper and other securities.!
BOM B AM D S T O C K B R O K E R ,
Dealer in Investment Securities,
No. 7 NASSAU STREET,
(Continental National Bank Building,
N ew Y ork .
Rolston & Bass,
No. 20 BROAD STREET, NEW YORK,
STOCKS, BONDS
AND M ISC ELLAN EO U S SE C U R IT IE S
Correspondence solicited.
Quotations cheerfully furnished.
W m . H . R olston ,
w . A l e x . B a s s , Jr.
Member N. Y. Stock Exch ge.
rioward Lapsley & Co.,
BANKERS AND BROKERS,
74 B R O A D W A Y and 9 N E W S T R E E T *
Now Y o r k , j
.-«¿a
THE CHRONICLE.
It
jt y z t M
*1« P IN K S T R E E T .
DEALINGS! IN
I N S U R A N C E
ST O C K *
A S P E C IA L T Y .
Pm *» paid at once for tbe above aeonrittee 5 or the*
will be gold on oommlaalon at seller’s option.______
Columbun Hocklnir Valley & Toledo.
Toledo Si Ohio Central.
Kanawha Si Ohio.
Eaat Tennessee V a . & Georgia.
American Speaking Telephone.
Sonthern Telegraph.!
To Investors.
F O R SA L E .
$25,000 First Mortgage Six Per Cent
Gold Bond (due in 1928)
of
THE
BELLEVILLE A CARONDELET RR.
Leased, operated, and Interest guaranteed by tbe
St. Louis, Alton & Terre Haute HR. Co. Listed at
N. Y. Stock Exchange.
H . A . C R O SB Y ,
R oom 505.
32 Nassau St.
Spencer Trask & Co.,
BOUGHT AND SOLD BT
BANKERS <Sc BROKERS
T. S. Stanton,
16 and 18 Broad Streec, N. Y
IS a n d 18 B R O A D S T R E E T .
Trust Co.’s Stocks.
ALL OF THE
AND
B r o o k ly n Com panies’
BOUGHT AND BOLD BY
WM.
C. IVOY E S ,
9 6 B roa d w a y.
Bee my quotations of Trust and Telegraph Stocks
n Putty Indicator and Saturday’s Evening Post.
DEGHUEE’S
OF BOND
VALVES,
PUBLISHED AND FOB SALE BY!
.G E O . W . D O U G H E R T Y ,
R o o m D, R ills B u ll d in e.
Investment Securities
BOUGHT AND SOLD.
W ANTED t
Toledo Ann Arbor A North Michigan lsts.
Southern Central lsts.
Middletown Unlonvllle A Water Gap 5s.
Indianapolis A Vincennes lsts and 2ds.
Scioto Valley Bonds, all Issues.
A L B E R T E . H A C H F IE L D ,
N o. 5 1* P in e Street.
R. T. Wilson & Co.,
Buttrick & Elliman,
ffarm gpiartflajjes.
18k' W A Iilil S T R E E T , N E W
YORK
CORRESPONDENCE INVITED
Simons & Chew,
STOCK B R O K E R S ,
9 Exchange Court Si 52 Broadw ay, N. Yf
Stocks, Bonds and United States Government
Securities Bought and Sold on Commission.
B e v e r l y Ch e w .
Member N. Y. Stock Exchange.
Member N. Y. Produce Exchange.
Cahoone & Wescott,
18 W a ll Street, New Y o r k ,
Execute Orders In all Securities Listed on
NEW YORK STOCK EXCHANGE.
Spécial Attention given to
GsTsrnment & other Investment Bonds
Correspondence Solicited
The Investors’ Agency,
2 3 4 L a Salle St., Chicago, H i.,
M. L. SCUDDEli, Jr., Proprietor,
ANSWERS INQUIRIES CONCERNING
A m e rica n Stocks a n d Securities
Large Library of Railroad Documents.
Competent Experts.
Confidential Reports.
Moderate Charges
Cl a r k D e w in g . F. T. B onteoou
(Member of New York Stock Exchange.)
H. Dewing & Son,
B A N K E R S AND B R O K E R S ,
N o. 18 W a ll Street, N ew Y o r k .
Stocks and Bonds Bonght and Sold on Commission
Particular attention given to Information regard
ing investment securities.
Iowa Loan A Trust Co. 6 per cent Debentures
bought and sold.
Walsh & Floyd,
6%
Send to HODGES A KNOX, TOPEKA, KANSAS,
•or Free Pamphlet containing the compiled Lang
tC Xanana relating to Real Estate Mortgages.
Cucitati Jteljes.
By N. W . BOWE,
R ea l Estate Auctioneer,
B R O K E R S ,
or THS
S O U T H E R N T E L E G R A P H CO.
By virtue of the following decrees entered In
the causes of “ William Mahone, <to., vs. The
Southern Telegraph Company and others” and
“ The Farmers’ Loan and Trust Company vs.
Same” —viz.:
1. Decree entered in said causes In the United
States Circuit Court for the Eastern District of
Virginia, on the 21st day of December, 1885;
2. Decree entered in said causes in the United
8tates Circuit Court for the Western District
of North Carolina, on the 4th day of Febru
ary, 1886;
3. Decree entered in said causes in the United
8tates Circuit Court for the District of South
Carolina, on the 4th day of February, 1886;
4. Decree entered in said causes in the United
States Circuit Court for the Middle District sf
Alabama, on the 5th day of February, 1886
5. Decree entered in said causes in the United
States Circuit Court for the Northern District
of Georgia, on the 10th day of February, 1886;
The undersigned, Special Commissioners
appointed thereby, will sell at publio auction,
in front of the office of the auctioneer, No. 4
North Eleventh Street, in the City of Rich
mond, Va.
FEBRUARY 1, 1887.
at 12 o’clock M.. ALL THE RIGHT, TITLE.
AND INTEREST, OF EVERY KIND AND
NATURE, OF THE SOUTHERN TELEGRAPH
COMPANY in and to the line of telegraph to,
from, and between the city of Washington and
the city of Selma, Ala., and the various branches
thereof (about 1,800 miles of poles and about
5,000 miles of wire), together with all the Lands,
Properties, Franchises, Telegraph Lines, Cables,
Poles, Wires, Instruments, Tools, Apparatuses,
Offices, Fixtures, Patents, Patent-Rights, Con
tracts, Leases, Securities, Rights, Claims, In
terest, and Demands of every kind, nature, and
description whatsoever, wherever the same may
be or however situated, now held/ owned, or
possessed by the said company,
The said telegraph line is In good condition,
and is now doing a good business.
The line will be sold subject to a traffic ar
rangement now existing between it and the
Mutual Union Telegraph Company, which will
expire at the option of the purchaser upon sixty
days’ notioe.
T e r m s o f Sa l e : Ten per cent of purchasemoney in cash and a sufficient sum in addition
to make such payment amount to 850,000;
the balance within thirty days a ft * sale.
Any further information desired will be given
by A. L. B o u l w a r e , receiver, at Richmond, Va.
A. L. BOULWARE,
H. B. TURNER,
Commissioners.
N. W. B o w e , Auctioneer.
7 %8
%
The American Investment Company, of Em*
metsburg, Iowa, with a paid-up capital of 8600,•
000, surplus 8 7 5 ,0 0 0 , offers first Mortgage
Loans drawing seven per cent, both Principal and
Interest fully Guaranteed. Also 6 per oent 10year Debenture Bonds,seour-ed by 105per cent of first
Mortgage loans held In trust by tbe Mercantile
Trust Co., N. V . Five per cent certificates of
deposit for periods under one year. Write for full
Information and references to the company at 150
Nassau St., N. Y .
____
A . L . ORM SBY,
Vice-President and General Manager.
Farm Mortgages
In Sums o f $100 and Upwards on In*
diana and Ohio Lands.
NOTHING SAFER. ALWAYS PROMPTLY PAI)
BEND FOR PAMPHLET.
JOS. A . M O O R E ,
8 4 Eaat m ark et S t., In d ia n a p o lis,In d
11WEST THROUGH TH E SOUND AND
"
R E L IA B L E
WESTERN FARM MORTGAGE CO.
LAW RENCE, KAN.
F. M. P e r k in s , Pres’t.
L. H. P e r k in s , Sec.
rtild Up Capital,
- - 82 5 0,0 0 0
Tbe choicest .First Mortgage Farm Loans, also the
Company’s Ten Tear Debentures, based upon its
paid up capital and assets of over (050,000. No losses.
Eleven years’ experience, with absolute satisfaction
to over 1,500 Investors. Send for circulars, forms and
full Information, Branch offices in N. Y. City and
Albany. New York Office 137 Broadway,
C. C. HINE A SON, Agents.
EQUITABLE
Mortgage Company.
C A P IT A L $ 6 0 0 ,0 0 0 .
D E B E N T U R E S
AND
GUARANTEED FARM MORTGAGES.
O FFICES
| REFERENCES.
New York, 208 Broadway. First Nat. Bk., New York.
Boston, 23 Conrt St.
Boston Nat. Bk., Boston.
Philadelphia,112
S.4th
St.
7th Nat. Bk, Philadelphia
No. 26 BROAD STREET, NEW YORK.
Kansas City, 7th& Del.Sts.(Am. Nat. Bk.,Kansas City*
James W. Walsh, J r „
N icoll F l o y d 1 j r _ F or rates o f Interest and full inform ation
Member N* Y. Stock Exchange.
send fo r pamphlet.
S T O C K
Important Notice.
VOHOLDERS 0? KANSAS REAL ESTATB
MORTGAGES:
Direct Private Wiree to each offioe and to
PHILADELPHIA.
or
BOSTON,
ALL THE PROPERTY, FRANCHISES,
__________________ WORCESTER.
RIGHTS, &C„
Specialista In R a ilr o a d Ronda.
d e w in g .
Real Estate Mortgages on City
and Farm Property, worth two
to fonr times amounts of mort
gages, Interest 6 per cent to
7 per cent, principal and Inter
est absolutely guaranteed. Se
curities for guaranty held by the
American Loan A Trust Com
MINNEAPOLIS. pany, of Boston, Mass.
Send for circulars to
Paid-Up Capital, NEHER Si CARPENTER,
8 2 0 0 ,0 0 0 .
Bankers, Troy, N .Y .
Authoris’d Capital
Eastern Managers for Company
< 2 ,0 0 0 .0 0 0 .
NORTH
WESTERN
GUARANTY
LOAN CO.,
Albany, N.Y.
Providence, R, I
Saratoga.
Transact a General Banking Business,
BANKERS AND COMMISSION MERCHANTS,
2 E x c h a n g e C o n r t, N e w Y o r k .
J a s . D. biMONS,
<
& to x tQ % Q Z 8 .
Commissioners’ Sale
N ew Y o rk
gn u s
U fa t v m
____________ g l t r a t t c i a l . ____________
E. S. B a i l e y ,
TABLES
[Voli. XI1V,
STOCKS and BONDS
At Auction.
The Undersigned hold REGULAR AUCTION
SALES of all classes of
STO CK S
AND
BONDS,
OH
WEDNESDAYS AND SATURDAYS.
A D R I A N H . M U L L E R & SON,
NO. 12 jPINE STREET, NEW YORK.
H t io m T A B u
b u il d in g .)
▼
THE CHRONICLE.
January 22, 1887,]
3fitxatxjcial.
Interest, gtnixlemls, See. Interest, Dtaricienfls, &c.
Q F F I C E OF T H F O N TA R IO S IL V E R
W MINING COMPANY, MILLS BUILDING, 15
Broad Street, New York, Jan. 19,1887.
DIVIDEND NO, 128.
The Regular Monthly Dividend o f FIFTY CENTS
per share has been declared for December, 1888, pay
able at the office o f the Company, San Francisco, or at
the transfer Agency in New York, on the Slst inst.
Transfer books close on the 25th inst.
LOUNSBERY & CO.. Transfer Agents.
F IC E OF P U L L M A N ’ S P A L A C E
OFCAR
COMPANY, CHICAGO, Jan. 19,1887.
Notice is hereby given that the 15 year 8 per cent
Debenture Bonds, 3d Series, o f this Company, issued
Feb. 15,1872, and maturing Feb. 15,1887, o f which
there is outstanding $445,000, will be paid with inter
est to date o f payment on and after this date on
resentation at the office o f the Farmers’ Loan &
'rust Company, No. 20 William Street, New York.
Interest on said bonds will cease Feb. 15,1887.
GEO. M. PULLMAN,
President.
P
F IC E OF P U L L M A N ’ S P A L A C E
OFCAR
COMPANY, CHICAGO, Jan. 20,1886.
DIVIDEND No. 80.
The usual QU A RTE R LY DIVIDEND o f TW O (2)
P E R CENT on the capital stock o f this company
from net earnings, has been declared, payable Feb.
15, to stockholders o f record at close o f business
Feb. 1,1887. Transfer books close Feb. 1 and re
open Feb. 16,1887.
A . 8. W EINSHEIM ER, Secretary.
pO LO RAD O
CENTRAL
CONSOLI-
^
DATED MINING CO.
TH E R E G U LA R DIVIDEN D No. 14 OF FIVE
Cents per Share $13,750), has been declared to the
Stockholders o f this Company, payable on Feb. 10th,
at the Farmers’ Loan & Trust Co. Transfer books
clos on Jan. Slst, reopening Feb. 11th.
N e w Y o r k , Jan. 13th, 1887.
__________________ R. V, MARTINSEN, Treasurer.
ST .
LOUIS
A
SAN
FRAN CISCO
R A IL W A Y CO., 15 BROAD St . (MILLS BUILD
ING), Ne w Y o r k , January 15.1887. The usual divi
dend o f TH R EE AND ONE-HALF (3H) PE R
CENT., fo r the past six months, on the first pre
ferred stock o f this company has been declared and
is payable on and after February 10, 1887, at this
office, to stockholders o f record on Saturday, Janu
ary 22,1887, at 8 p. m ., when the transfer books o f
that stock will be closed, to be re-opened on the
morning o f Friday February 11,1887.
________________ T. W . LILLIE , Treasurer.
O F F IC E H O M E S T A K E M IN IN G CO.,
M il l s B u il d in g , 15 B r o a d St r e e t , N ew
Y o r k , Jan. 17,1887.
DIVIDEN D NO. 102.
The regular Monthly Dividend—TW ENTY CENTS
per share—has been declared for December, payable
at the office o f the Company, San Francisco, or at
the Transfer A gency in New York, on the 25th
inst.
Transfer books close on th e 20th inst.
__________LOUNSBERY & CO., Transfer Agents.
T*HE
JL
L A K E SH O RE
&
M IC H IG A N
SOUTHERN R A IL W A Y CO,
T r e a s u r e r ’ s O ffice ,
)
G r a n d Ce n t r a l D e p o t ,
>
Ne w Y o r k , Dec. 30,1886. )
TH E BOARD OF DIRECTORS o f this company
have this day declared a dividend o f TW O Per Cent
upon its capital stock, payable at this office on Tues
day, the FIFTE EN TH D A Y OF FE BR U AR Y next.
The transfer books will be closed at 3 o ’clock P. M.
on Saturday, the 15th day o f January next, and wili
he reopened on the morning o f Friday, the 18th day
o f February next. E. D. W O RCE8TER, Treasurer.
T H E M IC H IG A N C E N T R A L R A I L A
ROAD COMPANY.
T r e a s u r e r ’ s Offic e ,
)
Gr a n d Ce n t r a l D epot ,
>
N e w Y o r k , Dec. 30,1886. )
THE BOARD OF DIRECTORS o f this company
have this day declared a dividend o f TW O per cent
upon its capital stock, payable on TU ESD A Y, the
loth day o f February next at this office.
The transfer books will be closed at 3 P. M . on
Saturday, the 15th January, and will be reopened on
the morning o f Friday, the 18th day o f February next
__________________ H E N R Y P R A T T , Treasurer.
H E C AN A D A SOUTHERN R A IL W A Y CO.
T r e a s u r e r ’ s Offic e ,
)
G r a n d Ce n t r a l D e p o t ,
>
N e w Y o r k , Dec. 80,1886. )
TH E B OARD OF DIRECTORS o f this company
have this day declared a dividend o f ONE AND
ON E-QU ARTER Per Cent, upon its capital stock,
payable on TUESDA Y.'the fifteenth day o f February
next, at this office.
I The transfer books will be closed at 3 P. M. on
Saturday, the 15th January, and will be reopened on
the morning o f Friday, the 18th day o f February next.
H EN RY P R A T T , A cting Treasurer.
T
T
h e
st
.
paul
Min n e a p o l is &
A
M AN ITOBA R A IL W A Y COMPANY,
No. 63 W il l ia m St ., N e w Y o r k , Jan. 14,1887.
The usual quarterly dividend o f ONE AND ONEHALF PE R CENT on the capital stock o f this com
pany has been declared, payable at this office on
and after Feb. 1,1887, to stockholders o f record on
that date.
The transfer books will be closed at 8 o’clock P.
M., Jan. 20, and will be re-opened at 10 o ’clock A .
M., Feb. 2.
EDW AR D T. NICHOLS,
_________________ Assistant Secretary.
U R T H N A T I O N A L BANK. OF
F OTHE
CITY OF NEW YORK, N
Y
, Jan
ew
ork
uary 13,1887.—At a meeting o f the stockholders o f
the FOURTH N ATIO NAL BAN K o f the city o f
New York, held January 11, 1887. the followingnamed gentlemen were unanimously re-elected Di
rectors for the ensuing year
. FREDERICK MEAD,
JOHN H . INMAN,
ELMORE A . KENT,
ROBERT W . STUART,
CORNELIUS N. BLISS, O. D. BALDW IN ,
CHARLES 8. SMITH,
RICH A RD T. WILSON,
D. B. F A Y E R W E A T H E R .
Mr. Joseph B. H oyt having, because o f ill-health,
declined a re-election, Mr. D. B. Fayerweather was
unanimously elected a D irector to fill his placé.
A t a subsequent m eeting o f the Directors, held
January 18, Mr. O. D. B ALD W IN was unanimously
re-elected President and Mr. CORNELIUS N. BLISS
was unanimously re-elected Vice-President.
H . BUCKHOUT, Cashier.
C A N A D IA N
P A C IF IC
L<
C O M PAN Y
RAILWAY
TO BONDHOLDERS
OF TH E
DIVIDEND NOTICE.
The half-yearly dividend upon the capital stock o f
this company, at the rate o f TH REE (3) PE R
CENT, per annum, secured under agreement with
the Government o f the Dominion o f Canada, will be
Bondholders, to avail themselves o f the benefits o f
paid on the 17th day o f February next to stockholders
the Matheson-Palmer reorganization agreement Of
o f record on that date.
Warrants fo r this dividend payable at the agency Oet. 15, 1886, are required to deposit their bonds
o f the Bank o f Montreal, 59 W all Street, New York, without delay In the Union Trust Company, No. 78
will be delivered on and after Feb. 17, at the office
o f the company’s agents, Messrs. J. KENNEDY rB road way, New York, against its negotiable receipts
TOD & CO., 63 William Street, New York, to stock therefor.
holders who are registered on the Montr eal or New
Messrs. Geo. S. Coe, Exstein Norton and Joseph
York Register.
Warrants o f European shareholders who are on D. Potts have been agreed upon as the Purchasing
the London Register will be payable in sterling, at Committee, to whose order the bonds will be de
the rate o f fou r shillings and one penny half-penny
(4s. lied.) per dollar, less income tax, and will be de posited.
livered on or about the same date at the office o f the
Only deposited bonds are entitled to participate
company, 88 Cannon Street, London, England.
The transfer books o f the company will be closed in the subscription fo r new bonds or in the reorgan
in Montreal and New York at 3 o ’clock P. M. on Sat ization plan. The custody o f m ore than a m ajority
urday, Jan. 22, and will be reopened at 10 A . M. on o f the bonds has already been secured.
Friday, Feb. 18,1887. at tho A gency o f the Bank o f
Bonds can be deposited until Jan. 27 withon^
Montreal, No. 59 Wail Street, who will hereafter act
charge.
as the Company’s agents in New York.
Office of t h e Se c r ’y , M o n t r e a l , Dec. 29,1886.
A copy o f the Agreement is filed with the Union
CHARLES DR IN K W ATE R , Secretary.
Trust Company, and bondholders can receive oopies
TLL1NO IS C E N T R A L R A IL R O A D o f the Trust Company and o f the Secretary o f the
Railway Company, 82 Nassau Street, and o f the
A
COMPANY.
members o f the committee.
49TH SEM I-ANNUAL CASH DIVIDEN D.
Dated Deo. 6,1886.
From the net earnings o f the year ended Dec. 31,
MATHESON & CO..
1886, the Directors have declared a semi-annual
W M . J. PA LM E R.
dividend o f TH R E E AND ON E-H ALF PE R CENT
in cash, payable March 1,1887, to stockholders o f the
The undersigned have aooepted the appointment
Illinois Central Railroad Company, as registered at as members o f the Purchasing Committee under the
the close o f business Feb. 10, 1887, The annual Matheson-Palmer Reorganization Agreem ent o f
meeting o f stockholders will be held March 9,1887. Oct. 15, 1886, and bonds can be deposited to their
The stock transfer books will be closed, fo r the pur order as stated in the foregoing notice.
poses o f the above dividend and o f the stockholders’
Dated Deo. 6,1886.
GEORGE S. COE,
meeting, from the close o f business on Feb. 10 until
EXSTEIN NORTON,
March 10,1887.
JOSEPH D. POTTS.
E. T. H . GIBSON, Secretary.
Mexican National R'y Co.
I fta m tic ia l.
TO BONDHOLDERS
OF TH E
Kansas Security Co.,
New Y ork Office 96 Broadw ay, cor. W a ll st.
STRICTLY first-class Kansas
paying an annual interest o f
Farm
Mortgages
Seven Per Gent Guaranteed.
Interest coupons payable at the CHASE N A
TIONAL BANK, New York. Send fo r circular.
References: Chase National Bank; Winslow, Lanier
& Co., &c.
W . S. Grosvenor, Pres., (
J. P. Jones, V ice Pres., SKingman, Kan.
Staten Island Securities
A S P E C IA L T Y .
Railroad Co. & Amusement Co. Stocks.
GEO. B . R I P L E Y ,
66 B roa d w a y, R o o m 8.
Indiana Bloomington & Western
FIRSTS, SECONDS AND EASTERN DIVISION
BONDS,
Pending the action o f the New York Stock Ex
change on the application to list the Trust Com
pany’s certificates, and fo r the accommodation o f
security holders, the time fo r depositing the above
named securities with the Central Trust Company
is hereby extended until Saturday, Jan. 29, 1887.
A fte r that date bonds will not be received except on
the payment o f such penalty as the committee shall
impose.
.
A large m ajority o f the bonds o f each class are
now on deposit, and the com m ittee will proceed
with the execution o f the plan without delaying fo r
further deposits.
INCOME BONDS must be deposited on or before
March 1.
STOCK must assent and pay first Installment o f
assessment, 314 per cent, Feb. 1, and second install
ment, 314 per cent, March 2.
J. D. CAMPBELL,
Secretary o f the Committee.
Investment Bonds.
Mexican National R?y Oo.
The agreement fo r the reorganization o f the Mex
ican National Railway Company, executed between
Messrs. Matheson & Co., o f London, and General
William J. Palmer, o f New York, dated Oct. 15,1886,
having beeen adopted by this committee, bondhold
ers are now notified that they should deposit their
bonds with as little delay as possible in the Union
Trust Company, subject to the order o f the Purchas
ing Committee—George S. Coe, Eckstein Norton,
and Joseph D. Potts,
A s the execution o f this plan involves many mat
ters wherein assenting bondholders have powers
and rights other than those which are held or exer
cised by the Purchasing Committee, this committee,
at the request o f a large number o f bondholders,
continues its organization and will represent bond
holders collectively, in der to protect such powers
and rights and aid the xecution o f the plan.
Bondholders, therefore who desire to be so repre
sented are requested to sign a proxy or power to
that effect to this committee
Bondholders represented by this com m ittee will
be notified at the proper tim e o f their pro rata rights
o f subscription to the new securities and o f any
other privileges.
Oopies o f this power and any further information
desired can he had by applying to the Secretary o f
the committee, W . W . NEVIN , 32 Nassau Street.
New York.
SPENCER TR ASK ,
SELAH CH AM BERLAIN,
JOHN DE R U Y TE R, H EN RY AM Y,
GEORGE BURNH AM , CHARLES J. CANDA,
SAMUEL B. PARSONS, W M. E, D. STOKES,
AUGUST R UTTEN ,
Committee.
TO THE BONDHOLDERS
OF THU
Lake Erie & Western
W e offer, and very strongly recommend, a small
amount o f the
First Mortgage Five Per Cent Fifty
Year Bonds
OF THE
MINNEAPOLIS & PACIFIC R’Y CO.
Issued at $15,000 per mile upon 218 miles o f com
pleted road, northwest from Minneapolis; well lo
cated, well built and well managed.
This is a choice investment at present price.
Bonds will soon be listed.
Circulars and full particulars furnished.
J O H N I I . D A V IS & CO.,
10 W a l l Street, M ew Y o r k ,
Railway Co.
The holders o f th e . first mortgage bonds o f the
L afayette Bloom ington & Muncie, the Lake Erie &
W estern and the Sandusky Extension Divisions o f
the Lake Erie & W estern Railway Company are
hereby notified to present their bonds at the office
o f the Central Trust Company on January 25,1887,
at which time the principal o f each o f such bonds,
together w i% the coupons past due on the same and
interest on such past-due coupons fo the abovem entioned date, will be paid by the purchaser.
SAM’ L . THOM AS.
Gas, Insurance, Banks, City R ailroads.
Send fo r list published Mondays.
J . P . W IN TttIN G H AM , 3 6 Pine St. N. Y .
& c.
^ In su ra n ce,
I fin a n c ia l.
Liverpool & London& Globe
Jarvis-Conklin
Mortgage Trust Co.,
IN SU RAN CE
COM PANY.
SUCCESSOR TO
STATEMENT UNITED STATES BRANCH, JAN. 1,1887.
A SSE TS.
Unearned Premiums.......................» 2 , 0 9 1 , 5 0 3
2 9 9 ,3 1 5
Unpaid Losses..........................
Perpetual Policy L ia b ility ..........
3 2 8 ,9 1 0
All other Liabilities........... ..........
2 4 2 ,5 0 0
SU R P L U S, - 3 ,0 7 7 ,5 3 8
DIRECTORS
52
77
20
81
25
IN
NEW
A L E X A N D E R H A M ILTO N ,
ANSON PH E LPS STOKES,
CH AR LE S H . M A R SH A LL,
JOHN A . STEW A RT,
R e s id e n t Ma n a g e r ,
j. e.
PULSFORD.
A sst . D e p u t y Ma n a g e r , GEO. W . HOYT
____ Fiuauciai.
^ y th A n n u a l R e p o rt
M ANHATTAN
Life Insurance Company
0
OF N E W Y O R K .
Aios. 156 a n d 158 B r o a d w a y ,
BONDS.
Morris & Essex 1st Consol. 7s, 1915.
Delaware & Hudson, Pennsylvania
Div., 1st 7s, 1917.
Illinois Central (Chic. St, Louis & N.O.)
5s, 1951.
(Guar, by the Northern Pac. R a ilroa d Co.)
P resid en t, J A M E S M . M c L E A N ,
F ir s t Vice-president, J. L. H A LSE Y ,
Second Vice-president, H. B. STOKES,
{Secretary, H . Y . W EM PLE,
Actuary, S. N. STEBBINS.
COM PANY.
N et Assets December 31,1885......... ....$10,005,438*85
Incom e accounts, year 1880...................
2,104,7o7-30
n. Total............................
iia.ioöüäfTü
D IS B U R S E M E N T S ,
Paid claims by death, ma
tured endowments, and
payment o f annuities... $801,005'89
P aid dividends...................
201,887-98
¡Paid purchased policies... 104,583-29
P a i d s a l a r i e s , o ffic e ,
agency, real estate, com
missions, taxes, medical
department, advertising
and other expenses........
822,801-29
Balance...........................
L IS T
OF
1,550,188-43
................. $11,810,057-78
ASSETS.
Cash on ban d............................................
Cash in bank and Trust Com pany...... .
Bonds and m ortgages........ .....................
Loans on policies in f o r c e ......................
United States and N. Y. stocks and
Other bonds (market va lu e)................
¡Real estate at oost....................................
Premiums deferred and in course o f
collection and transmission................
Loans on stocks and b o n d s ..,.,........ .
Interest due and accrued, and ail other
p rop erty..., ...........................................
$1928*87
194,041*84
3,45e|795-15
1 057 745-73
2,181 713-50
778,113-37
183,903-03
3,420,762*50
99,053-79
Gross assets.................................. $11,310,05?-78
R eported claims awaiting
proof, e t c . . . , . . ; . ............. $185,448-00
Dividends unpaid and
other liability.................. 131,747-43
R eserve on existing poli
cies, estimated by New
Y ork standard;.............. 8,730,185-00
New York Lackawanna & Western 1st
6s, 1921
&
FLAGG,
11 P in e Street.
T> EORGANIZATiON OF TH E PH ILA D E L
¿-V PHI A & READING R AIL R O A D COMP A N T AND A F F IL IA T E D COMPANIES.
Creditors and shareholders are requested to da
posit General Mortgage Bonds with Messrs. Drexe
& Co., and other securities with Messrs. Browi
Brothers & Co., under the terms o f the agreement
o f March 22, 1888, as modified by the plan o f re
organization o f December 14,1888, copies o f whicl
can be had upon application at the respective bank
ing houses o f tta e depositories, and at the Guaran
tee Trust and Safe Deposit Company.
^ General Mortgage bondholders on depositini
their bonds will receive from Drexel & Co. an
graved certificates now negotiable at the Stock
Exchange and the interest now due under tin
plan.
For all ether securities Temporary receipts w
be issued by Brown Brothers & Co., exchangee
fo r engraved certificates (as soon as they can
prepared), to be made negotiable at the Stock
change, entitling the holder to the new securi
after reorganization.
The cash subscription will be called fo r in instal
ments o f twenty-five per cent each and thirty days
notice by advertisement will be given prior to eacl
call
Creditors and shareholders are given until March 1
188?, to accept the provisions of this plan.
I n case a reorganization without foreclosure can
not be effected, then all parties who have failed t<
deposit under the plan by March 1, 1887, will be ex
cluded from all participation iti the reorganization
by foreclosure, which (if there be sufficient deposit,
to satisfu the Trustees), will then be brought abou
immediately, and for the benefit of those only who hav,
deposited.
JOHN B. GARRETT,
Chairman Reconstruction Trustees,
M O B I L E & O H IO R A I L R O A D CO M -
9,047,375-43
American Ex. 4fcj per cent.,.,,,, $2,263,682-35
TH E FA RM ER S’ LOAN & TRUST COMPANY,
By R G. ROLSTON,
NEiviY or k , January 19,1887,
President.
$ 1 ,0 0 0 ,0 0 0
OR TO
M essrs. M O R G AN & B R E N N A N ,
Managers,
2 7 Custom H ou se Street,
Providence, R . I .
St. Paul & Northern Pacific 6s, 1923.
FOR SALE BY
-
J O H N M . S H R I G L E N , Manager,
411 W a ln u t St., P h ila d e lp h ia.
Chicago & Northwestern, Des Moines &
Minn. 1st 7s, 1907.
REED
-
The above Company negotiates mortgages
on improved Real Estate worth from three to
five times the amount of the loans. The
Mortgages are for five years and draw six
and seven per cent interest.
It also offers Its ton-year Debentures, draw
ing six per cent interest, which are direct
obligations of the Company. They are issued
in series of $100,000 and secured by an equal
amount of First Mortgages on improved Real
Estate deposited in trust with the Mercantile
Trust Company of New York City. They are
further secured by the entire paid up capital of
the Company, amounting to $ 1,0 0 0 ,0 0 0 .
terest and principal payable at Mercantile
Trust Co.
Write for further information and referenoe
to our offices at Kansas City, Mo., or to
(Guar, by Del. Lack. & Western.)
P A N Y .—Sin k in g F u n d .—Pursuant to the
provisions o f the deed o f trust dated May 1,1879
the undersigned, TH E FARM ERS’ LOAN & TRUST
COMPANY, Trustees, solicits offers o f FirsfcPreferred Income and Sinking Fund Debentures o f the
MOBILE & OHIO R A ILR O A D COMPANY, to the
aggregate amount o f Thirty Thousand Dollars.
Sealed offers will be received until 12 m . on W ed
nesday, the 20th inst.
Surplus by above standard, viz.:
MO.
R O L A N D R . C O N K LIN , Scc’ jr.
W M . F . S H E L L E Y , T reas’ r.
G EO. W . M c C R A R Y , C ounsel.
James River Talley 1st 6s, 1936.
ORGANIZED IN 1850.
THE
C IT Y ,
SA M U E L M . J A R V IS , Fres’ t,
E D W IN E . W IL S O N , 1st Vlce-Fres»t.
H E N R Y F . M O R G A N , 2 d Vlce-Pres»t.
YORK.
CHAIRM AN , ROBERT B. MINTURN.
D e i tm r M a n a g e r , H E N R Y W . EATON,
Capital P a id Up
$ 8 ,6 3 9 ,7 8 0 55
$ 0 ,0 3 9 ,7 8 0 55
OF
KANSAS
I<I A B IL I T IE S .
Real estate...........; ....... . . ; ........... » 1 , 3 8 0 , 0 0 0 0 0
Loans on Bond and M ortgage.... 1 ,8 7 4 , 4 9 3 5 1
United States Government Bonds 1 , 9 2 9 , 4 0 0 0 0
State and City Bonds....................
3 0 2 )1 7 5 0 0
0 1 2 )0 0 3 3 8
Cash In Banks.................................
•Other admitted Assets...................
4 8 1 , 7 0 8 GO
GROW TH
Jarvis, Conklin & Co.,
F IV E P E R CEN T
COUPON AND REGISTERED BONDS
(In denominations o f » 1 , 0 0 0 , » 5 0 0 and » 1 0 0 )
or THE
Railroad Equipment Co.
Due June 1,1894. Interest June and December.
Total issue o f car trust securities by
this company since its organiza
..........» 1 3 , 2 8 1 , 0 0 0
tion in 1879.......................
Of which there have matured and
been paid off........................................
8 ,7 0 7 ,0 0 0
Leaving outstanding in the hands
o f investors and owned by the
com pany........................................... . » 4 , 5 7 4 , 0 0 0
also;
Five Per Cent Coupon and Registered
Bonds,
(In denominations o f » 1 , 0 0 0 , » 5 0 0 and » 1 0 0 )
OF
THE
NATIONAL WATER WORKS
INVESTMENT CO. „
D n e in 1 9 0 6 .
In terest J a n u a ry and J u ly
F or sale by
P O S T , M A R T I N & CO.,
3 4 ^ P in e Street.
Bible Hotel,
AM STERDAM .
Beautifully situated in the centre o f the city, close
to the Railway Station and the Exchange. First
rate cooking. Excellent wines. Moderate prices.
W . P. W ER K E R , Manager.
Massasoit H o u s e ,
S P R IN G F IE L D , MASS.
T H E BEST APPOIN TED HOUSE IN WESTERN
N EW ENGLAND.
Convenient fo r the tourist or business man Near
Union Depot.
----- --------- - T
.
L
W .
H . CHAPIN.
HUNT’ S MERCHANTS' MAGAZINE,
§|)
îtfc ffc îg
§ jjk lP 0 p a p « V ,
REPRESENTISTG THE IN D U STR IA L A N D COMMERCIAL INTERESTS OF THE UNITED STA TE S.
VOL. 44.
SATURDAY, JAN U A R Y 22, 1887.
C O N T E N T S .
THE CHRONICLE.
Clearing-House R e tu rn s .....
99 The Course of Net Ea'nings .. 107
The Financia l Situation____ _ 100 Railroad Earnings..................... 107
Monetary and Commercial
Gold and Silver Production
English News........................ 108
since 1851..........................
102
Commercial and Miscellaneous
The Canal and New York
News....................................... 110
Grain Receipts.................
105
3
The
£feje © fero tticle.
C o m m e r c ia l
and
F in a n c ia l C h r o n ic l e
is
’published
in
New York every Saturday m orning.
{Entered at the Post Office, New York, N.Y ., as second olass mall matter.]
Terms o f Subscription—Payable in Advance:
For One Year (inoluding postage)........................................$10 20
.......................................
6 10
For Six Months
do
European Subscription (including postage)......................... 11 28
Annual subscription In London (inoluding postage)........ J82 7s,
Six Mob.
do
do
ao
. . . . . . £ 1 8s.
These prices include the I nvestors’ Supplement, issued once In two
months, and furnished without extra charge to subscribers of the
Chronicle.
Subscriptions will be oontlnned until definitely ordered stopped. The
publishers cannot he responsible for remittances unless made by Drafts
or Post Office Money Orders.
A neat file cover is furnished at 50 cents; postage on the same Is 18
Sants. Volumes hound for subscribers at $1 00.
O fflceslfln E n g la n d .
The office of the Commercial and F inancial Chronicle In London
is with Messrs. E dwards & Smith, 1 Drapers’ Gardens, E. C., where sub
scriptions and advertisements will be taken at the regular rates, and
single copies of the paper supplied at Is. each.
The office of the Chronicle in Liverpool is at 5 Brown’s Buildings, Ex
change.
WILLIAM B. DANA.
JOHN G. FLOYD.
W I L L I A M It. D A N A & C o., P u b lis h e r s
7 9 & 81 W i l l i a m S treet, N E W Y O B K .
P ost Office Box 958.
CLEARING HOUSE RETURNS.
The returns of exchanges for the week ending January 15,
although not of so satisfactory a character as those for the pre
ceding week, are yet not unfavorable. There is a decline in
the aggregate from the figures of January 8 of some two hun
dred millions of dollars, but this considerable loss was in large
part the result of special influences. In the first place the
discussion of the Inter-State Commerce bill in the U. S. Senate
was a disturbing influence at the centres of speculation, and
New York being the most important of these suffered most,
its effect being marked by smaller transactions at the Stock
Exchange. Furthermore, it is to be remembered that the
totals for the first week of January were largely swelled by the
annual interest payments. Under these circumstances the
present exhibit is more favorable than a merely superficial
comparison with the figures for the previous week would seem
to indicate.
Contrasted with the similar period of 1886, there is a gain
in the total of 3’9 per cent. Of the thirty-one cities included
in our table, only four (Boston, Providence, Portland and
Galveston) record losses, and those small, while in many in
stances the gains are very large, notably Indianapolis 141*9 per
cent; Kansas City 75*6; Peoria 74 6; Omaha 49'9 ; Memphis
48'2, and Detroit 40 8 per cent.
Operations in shares on the New York Stock Exchange for
the week embrace a market value of $81,163,000, and compare
with $137,282,000 for the corresponding week in 1886. Deduct
ing two-and-a-half times these values from the total clearings
NO. 1,126.
at New York we find the clearings due to other than stock
transactions to be $439,109,360, against $309,392,285 a year
ago, or an increase of 41 *9 per cent.
Week Ending Jan, 8.
Week Ending Jan. 15.
1887.
1654,516,860
1886.
P er Cent.
(652,597,285
1887.
P ercen t
-H>'8
(808,769,152
+12-9
Sales of—
(.Stocks....fluirei.)
( C otton... .bales.)
(G rain .. .bushels)
(Petroleum..bbls.)
(1,652,774)
(826,100)
(82,900,488
(28,060,000)
(2,023,958) (-1 8 3 )
(385,900) (-15-5)
(32,977,200) (+ 0 1 )
(38,779,000) (—25-3)
(1,780,974)
(283,400)
(37,252,000)
(28,588,000)
(+1’8)
(-35-5*
(-9-5>
(-6 3-0 )
B o sto n ...................
Providence............
H artford................
New H a v e n ........
Portland................
W orcester...........
Springfield.............
L o w e ll..................
182,376,607
4,580,300
2,164,951
1,426,952
1,059,248
939,628
946,123
585,889
(85,137,669
4,967,100
1,774,884
1,192,318
1,074,279
875,767
827,443
*482,091
-3 2
-J7 8
+22-0
+19-8
—1-4
+73
+143
+81-5
(90,977,083
5,811,200
3,886,791
1,688,675
1,246,125
974,311
1,166,951
659,056
—6-+
+5-S
+7-9
+6-2
+21-5
+15-3
+17-4
+27-3
Total N. England
(94,079,698
(96,331,551
—8 3
>105,410,192
-4 -5
Philadelphia.........
Pittsburg...............
Baltimore.............
(57,247,827
9,258,907
13,490,962
(53,817,552
7,340,898
12,289,895
+6 4
+ 261
+ 9-8
(74,320,154
11,288,719
16,927,522
4 22-7
+ 37-5
+ 4-7
T otal M id d le ....
(79,997,696
(73,447,845
+8 9
(102,481,895
+20*7
Chloago................
Cincinnati.............
Milwaukee.............
Detroit...................
Indianapolis..........
Cleveland..............
Columbus..............
Peoria.....................
Omaha...................
Minneapolis..........
Denver..................
(49,830,493
11,588,850
4.194,114
3,952,819
8,5S3,518
3,184,423
2,070,737
1,094,992
4,767,283
3,493,915
4,074,454
(44,380,063 + 112
8,719,550 +32-9
3,142,638 +33-f>
2,808,218 i 40 8
1,481,662 +141-9
2,390,760 +33-2
1,589,833 4-30-2
627,140 +74-6
3,180,442 + 49 9
2,502,101 +39-6
2,920,602 +39-5
(63,137,737
11,816,500
5,006,792
4,445.348
4,484,888
8,724,827
2,285,566
1,241,323
0,089,404
8,671,641
4,064,347
+13 0+10-4
+o-&
+28 9
+176-9
+372
+ 16-5
+59-7
+187-7
+12*5+ 8-5
Total W estern ...
(91,335,598
(73,742,999
+ 23-9
(109,918,313
4 20*4
St Louts................
St. J o se p h ,..........
New Orleans..........
Louisville..............
Kansas City..........
Memphis................
Galveston..............
(16,641,527
1,174,647
13,090,240
5,2»0,783
6,870,155
2,526.949
1,508,114
(14,920.696
890,848
10,055,764
4,874,579
8,912,090
1,704,899
1,609,861
+11-5
H-31-0
4-30-2
4-8-5
+75-6
+48-2
+18*1
+16-0
—5-4
+ 15-7
+74-6
+18-0
-6-3
»20,122,575
1,248,961
10,488,400
6,658,087
7,523,073
2,880,615
1,812,740
Total Southern..
(47,098,865
(37,968,737
424-0
(50,735,15:
+ 16*7
+2S-8-
+2-9
San F rancisco.......
(14,420,778
(10,947,430
+31-7
»14,679,401
Total a l l .............
(9 8 1,448,995
+3-9
(1,191.993,87£
+12-7
Outside New York
>826,932,135
(945,035,847
>292.438,562
+11-8
(383,224,521
+12-3.
As received by telegraph this evening, the returns of ex
changes for the five days exhibit a small increase over the
aggregate for the like period of last week. In comparison
with the corresponding five days in 1886 New York records a
dceline of 5 7 per cent, but in the whole country there is a gain
of 0'5 per cent, and outside of New York the excess reaches
16’1 per cent.
Five Days Ending Jan .2 1 .
1867.
1886.
Per Cent.
5 D ’ys End’g Jan. 14»
1887.
PerCent
New Y o rk ..............
Sales o f Stock (shs.)
Boston....................
Philadelphia.........
Baltimore...............
Chicago..................
St. Louis................
New Orleans........
(579,120,093
(1,886,709)
09,445,263
55,9*4,065
12,641,988
40,454,000
14,033.886
10,050,141
(014,038,171
(2,014,705)
69,032.634
44,948,756
8,908,029
38,320,000
13,622,562
8,022,117
-5 -7
(-0 -3)
+0*0
+24*4
+41-9
+50
+3 0
+32-7
(550,482,489
(1,298,495)
70,107,315
48,510,339
11,241,998
41,698,000
14,230,549
9,539,000
+2-6
(—28-3)
—1*1
+12-B
+9 5
+15-5
+14-S
-1 2 -3
T otal................
Balance. Country*
$782,269,430
78,754,579
1793,892,269
00,054,540
-1 -8
+31-1
(745,860,880
89,052,731
+ 36
•i-20-9
(861,024,015
(856,946,815
(242,908,614
+0*5
+101
(834,913,111
$284,480,622
+ 12-1
Total all.........
Outside New York
$281,903,922
* Estimated on the basis o f the last weekly returns.
+5*0
100
IH E CHRONICLE
[VOL. x u v .
ciently to make any decided impression ; and as we write,
the tone of the market is so sensitive that it might easily
The tendency of the money market this week has very
be turned either way by a pressure of bills or a
naturally been towards lower rates. Money on call as
decided demand. Y et it is hardly necessary to add
represented by bankers’ balances has loaned at 6 and 2 per
that
although there may be temporary declines
cent, averaging about 4 f per cen t; but the banks have
we must expect the tendency to be upward after this time.
continued to demand 6 per cent. Time loans, however,
W e have shipped 423,219 more bales of cotton to Europe
having from four to six months to run, are negotiated at
this year up to last night than we had shipped at the same
44- to 5 per cent according to the grade of the collateral,
date last year ; so unless the crop is very much larger
and there is a good supply of money for this class of loans,
than current estimates our shipments for the remainder of
besides liberal offerings on call from loaning institutions.
the season must be much smaller than a year ago. Of
Hates for commercial paper are also easier, for although
breadstuffs we have a larger supply and better prices for
the city banks are not eager buyers, the demand from
it in Europe ; but wheat and corn make exchange slowly.
out-of-town institutions and trust companies absorbs the
Imports are also increasing.
Hence leaving out any
supply. As to the future of money, there is no change In
movement either way in securities (and the reader ca n
the prospect as noted by us last week. The movement of
judge as well as we, of the tendency in that particular,
funds from the interior to this city continues and is likely
especially if the Inter-State Commerce bill becomes a law)
to continue for some time, if the trade of the country does
the expectation of lower rates for any length of time does
not quicken again.
not seem authorized.
The cable reports discounts of 60 day to 3 months’
Now that the Inter-State Commerce bill has passed both
bank bills in London at 3§ per cent, against 3£ early in
Houses of Congress, it goes to the President for his
the week, while the Bank of England minimum remains at
approval. No one knows what the President’s views with
5 per cent. It is stated that there are some indications of
regard to it are, though among Washington correspond
a reduction in the Bank rate. This may be so, for there
ents there seems to be a general belief that the bill will
is such a wide difference between it and the market rate
be signed. Holding the opinion we do as to the effect of
that the official minimum cannot be exerting any great in
the measure on the trade of the country, we cannot feel
fluence upon the foreign exchanges. W e have evidence
quite so sure of that. The public certainly has good
of this fact in this week’s Bank return, which, according
reason for the confidence felt that Mr. Cleveland will not
to a private cable to us, although the gain was reported at
be afraid to veto it, if in his judgment it ought not to
£440,000, included only £65,000 from foreign sources
become a law. Whether in that event it can command
(mostly France), the remainder £375,000 having come from
the votes necessary to again pass it, is not a question for
the interior of Great Britain. Besides, the Bank’s stock of
consideration.
A protest in behalf of the commerce
bullion is now above 20 million pounds sterling, and in the
which it will disturb, even if it be ineffectual, would be
natural course of events the Bank managers look forward to
educational, for the people will read a President’s message,
arrivals from America before very long.
and remember it too— especially if subsequently forced to
From the trade reports we have prepared the following
experience the harm it attempted to arrest. After that
statement of the gold movement of Great Britain since 1857.
protest has been clearly made, even the passage and
It is an interesting contribution to the history of the times.
enforcement of the law would not be an unmixed evil. A^
It will be noted that for the first 19 years that country
nation must often suffer to learn, and there never was one
needed for its commerce and uses, fresh additions to its
more in need of disciplinary schooling than ours just now.
gold supply of £86,026,061. Since the demonetization of
W e do not claim or believe that railroad management
silver not only has it received no new additions, but
is perfect and unselfish ; nor have we opposed a railroad
these figures show a net loss of £8,365,424. The state
commission. W e do assert, however, most unequivocally
ment is as follows.
that trade and commerce to-day is the creature of our
SUMMARY OP GREAT BRITAIN’S GOLB MOVEMENT FOR 29 YEARS.
carrying system ; that the general traffic arrangements in
Excess o f Im operation are a development of circumstances and condi’
Tears.
Imports.
Exports.
ports. +
Exports.—
tions way beyond the will or whim of railroad presidents;
&
&
£
that a higher law put them in operation and that a
Total 4 years, *1858 to 1861..
69,839,445
58,428,129 +11,411,316
statutory
law annulling them would, even if clearly- and
Total 5 years, 1862 to 1866...
93,942,531
65,830,372 +28,112,159
But in this
Total 5 years, 1867 to 1871...
59,782,833 +27,349,967 wisely guarded, be a dangerous experiment.
87,132,800
Total 5 years, 1872 to 1876... 103,778,435
84,625,816 +19,152,619 case not one single advocate of the bill has been able to
Total 5 years, 1877 to 1881...
69,067,522
F0,236,370 —11,168,848
\answer with any precision the questions put to him or
1882...........................................
14,375,914
12,023,804 +2,352,110
7,733,309
1883...........................................
The best Senator
7,091,365
+641,944 consistently to explain its provisions.
1884...........................................
10,720,358
12,012,839 —1,292,481
13,374,119
1885...........................................
11,930,818 +1,443,301 Cullom could say for the clause we have so much dis
1886...........................................
13,392,256
13,733,706
—341,460
cussed was, that it did not mean anything, although in
Total 5 years, 1882 to 1886...
59,595,956
56,792,532 +2,803.424
answering Senator Hoar he admitted that it meant much.
* The imports of the preoious metals into Great Britain were not
registered until November 1,1857.
This is precisely the position the advocates in the
Perhaps the commission on “ British Trade Depression’1 House have held under cross-examination, and Mr.
might find something instructive in these figures.
Weaver, of Iowa, only stated an obvious truth when
Our exchange market has been dull and irregular this he said in substance— “ not all the lawyers in the land can
week. On Monday the leading drawer advanced rates to u tell me what is meant by the words 1under substantially
$4 83-J- for long and $4 87^- for short, but the Canadian “ ‘ similar circumstances and conditions ’ I The Senate
banks kept half a cent per pound lower figures posted “ conferees disagree and the House conferees disagree
until Thursday, when the advance became general. Even “ among themselves and with one another.” And yet it is
then the market was simply firm, with the demand greatest this obscure, ambiguous measure, (no one caring appar.
for long sterling, the preference being given to 60-day ently whether its meaning is harmless or whether it will
drafts in consequence of the comparatively easy discount disturb the entire trade and producing interests of the
rates. The arbitrage houses have done but little, but their country), that is to be put into operation. Ought not such
operations have been against this centre, though not suffi a statute so carelessly framed be returned to Congress and
THE FIN AN CIAL SITUATION.
January
22, 1887.1
THE CHRONICLE.
the opportunity given to make jt8 provision definite and
certain ?
The Pacific Railroad debt question and the proper way
of settling it is brought up anew this week by the commu
nication transmitted by Secretary Manning in reply to the
Senate resolution asking for information on the subjet tIt will be remembered that the proposition under discus"
sion is to settle the debt by a series of 160 semi-annual
payments of equal amount. The proposition seems to be
a reasonable one, the doubt with regard to it being whether
the methods laid down in the bill for calculating the
payments yield correct results.
Mr. Manning has had an
examination made by the Government actuary, and finds
that while according to the bill in its present shape the
semi-annual instalment called for to meet interest and
principal (taking all the Pacific roads together) would
be $1,525,948 88, the actual amount needed to effect
that purpose would be $1,834,063 98. Of course, if such
a discrepancy exists, the measure should be modified
accordingly. It would also seem that the provision as to
the amount of interest to be abated on payments antici*
pated, is subject to a construction liable to cause loss to
the Government and at variance doubtless with the inten
tions of the friends of the measure; that also should be
made more definite. A somewhat similar measure for
settling the debt is under consideration in the Housepossibly this may in these respects answer the purposes
tetter than the Senate bill. By a resolution of the House,
Thursday, the Secretary was asked to compute the effects
of that bill, and soon Congress will be in position to under
stand the respective merits of the two measures.
But whatever defects either may contain, this does not
militate against the principle, which is to find a basis of
agreement alike protective of the interests of the Govern
ment and of the debtor corporations. The present state
of things cannot be allowed to go on. The Government
least of all can afford its continuance. Existing provi
sions of law are inadequate to secure the payment of
the debt.
If merely the original principal of the
loan were
involved, there would be
no occa
sion for anxiety.
But
there is
in
addition
the accumulated interest to be repaid. The aggregate
of principal is only $64,623,512, while the amount of
interest up to the first of January, 1887, was $70,854,325,
of which only $21,552,144 had been repaid by the com
panies, leaving a total debt at the present time of $113,
925,693. But before the maturity of the loan the Gov
ernment will have to pay $43,406,921 more for interest.
Under existing law, the companies can be depended on to
extinguish only a small portion of this latter sum before
the loan falls due. The reason is that the Government
requirement is based on a percentage of the net earnings
of the subsidized portions of the lines, which net earnings
owing to low rates and increasing competition, are becoming
less with each succeeding year. Thus the requirement
suffices to pay only a fraction of the yearly interest on the
subsidy loan, and each year sees the amount owing by
the companies increased.
Clearly, therefore, the Govern
ment cannot risk delay. Neither can the roads, for with
such a debt to meet, and no provision for dealing with it
bankruptcy will sooner or later be the result. A common
danger suggests common precautions, and hence the rail
roads are as anxious to find a way of paying the debt as
the Government.
The points on which a settlement
should be effected are only two, (1) protection of the
interests of the United States, and (2) annual payments or
such a settlement of the debt as is within the ability of
the companies to meet and yet maintain their existence
and preserve the stockholders’ interest. Within these limits
101
a common ground for Government and the roads to stand
on, ought not to be difficult to find.
#
The condition of general trade has undergone no decided
change in recent weel$s.' A close observer however can
not fail to notice that though business continues active
and prosperous, there are various signs which indicate
that there is a little less doing than we have been accus
tomed to of late. To be sure, the iron and steel indus
tries remain in a condition of extreme activity, under
special stimulating circumstances. But outside of these
trades, and of the production and consumption of bitum
inous coal, which is in a measure dependent upon the con
dition of the iron trade, there is some little abatement of
the spirit of buoyancy which had become such a "promi
nent characteristic of trade operations.
On the other
hand, railroad earnings, which are certainly a pretty
good index of the course of trade, record uninter
rupted progress towards higher totals.
On another
page we give our usual tables, showing a gain of 17 per
cent for the first week of January on 56 roads, and of 29
per cent on 41 roads (all that have yet reported) for ihe sec
ond week of the month. It is not forgotten that January
earnings last year were very poor so that the comparison
is with small totals, but the ratio of gain is large enough
to cover that contingency and still leave room for consid
erable improvement in the ordinary way.
The characteristic of this week’s stock market is, that
while values have been strong and weak by turns the
specialties have absorbed the largest amount of attention.
Take up any day’s stock-list and one quickly sees how
insignificant are the transactions and how small the
fluctuations in the shares of the- better class of properties*,
and then by contrast the enormous sales and great rise in
the less substantial things— many of them overloaded
with debt and having no history except that traceable
in bankruptcy courts, and others which with but a dim or
dubious past and little present net income, assume new
responsibilities on a scale that would appall even dividend
earners of large magnitude. Such operations may dazzle
the unthinking, but they furnish only a veiy poor basis
of stability. Of course, it is to the future and not to the
present that these look, and undoubtedly the future, with
prosperity continued, is bright, but it is not wise or safe
to bank upon “ magnificent possibilities” alone. The coal
handlers’ strike has not yet been ended, but the companies
are evidently gaining the upper hand. Rumor has again
succeeded in settling the Nickel Plate-Lake Shore matter,
this time with the effect of depressing the Nickel Plate
stocks, but no official announcement has yet been
made.
The following statement, made up from returns c o l
lected by us, shows the week’s receipts and shipments of
gold and currency by the New York banks.
Week ending January 31,1887.
Shipped by
Received by
N. Y . Bank». tV. F. Bank».
Net Interior
Movement.
*3,753,000
$310,000
Gain. $2,133,000
(2,753,000
(319,000
Gain..$2,433,000
Gold.......................................................
T otal gold and legal tenders......
The above shows the actual changes in the bank hold
ings of gold and currency caused by this movement to and
from the interior. In addition to that movement the
banks have lost $300,000 through the" Sub-Treasury
operations and have gained $350,000 by Assay Office pay
ments for imports of gold. Adding these items to the
above, we have the following, which should indicate
the total gain to the New York Clearing House banks
of gold and currency for the week covere d by the bank
statement to be issued to-day. It is always to be remembered,
however, that the bank statement is a statement of averagti
102
THE CHRONICLE.
[VOL.
XL1V.
paying vein is struck the margin of profit is a wide one.
No more evident fallacy is anywhere current to-day than
the idea that the cost of production of either gold or
silver governs its price. Tue edict of nations fixes the
N et Change in
Into Sank*. Out o f Bank*.
price of each, the new ventures taken depending on the
Week ending January 21,1887.
Bank Holdings.
spirit
of enterprise that prevails, while the success
(319,000 Gain .$2,433,000
Banka’ Interior Movement, as above $2,752,000
50,000 attained
6,300,000 Gain..
6,350,000
Sub-Treasury oper.and gold import.
is contingent upon lucky finds.
When
$6,019,000 Gain. 12.483.900
Total gold and legal ten d ers.... *0.102.000
either metal is everywhere demonetized or spoiled
The Bank of England gained £440,000 bullion during of its uses so that no need for it exists except for
the week. This represents £65,080 received from abroad manufacture, then demand, price, and cost of production
and £375,000 from the interior. The Bank of France will keep together as closely as they do in other products»
lost 2,400,000 francs gold and gained 300,000 francs sil and not until then. W e recall this condition because so
ver, and the Bank of Germany, since the last report, many continue to lose sight of it or refuse to acknowledge it,
gained 12,760,000 marks.
The following indicates the in accounting for the decline in silver of late years and the
amount of bullion in the principal European banks this wide fluctuations now. Its present recovered strength is but
a reflexion of the hope that the Royal Commission excites,
week and at the corresponding date last year.
and nothing but remonetization can save it from sinking
Jan. 21,1836.
Jan. 20, 1887.
far below the price it has hitherto touched.
Silver.
Gold.
Gold.
Silver.
Mr. Valentine’s compilation for 1886 brings down the
production of gold, silver and lead in the States and Ter
£
£
£
£
20,953.690
Bank of England. . . . . . . . 20,033,231
ritories west of the Missouri River (including British
48,732,166 45 385,509 45,909,602 43,240,140
Bank of Germany........... 18,260,090 16,192,910 17,619,250 15,605,750 Columbia and receipts in San Francisco by express from
87,025,487 61,578,419 34.482,542 58,845,890 the west coast of Mexico) to the 31st of December. The
Total previous week — 86,339,537 61.267,017 33,319.984 58.346,300 « aggregate result” given in this statement “ may be
The Assay Office paid $108,016 through the Sub-Treas “ relied on with reasonable confidence as approximately cor*
ury during the week for domestic and $354,964 for for “ rect.” These are the words used in the circular, and
eign bullion, and the Assistant Treasurer received the fol- we believe they convey a true estimate of the report. A t
the same time, while the “ aggregate” may be relied on, Mr.
owing from the Custom House.
Valentine we think does not claim entire accuracy for his
Consisting of—
analysis of the metals— that is, for the percentageaby which
Dulie*.
Dale.
Silver OerGold
U. S.
he divides them. W e make that suggestion because of the
Gold.
tifleates.
Gertiflc’s.
Notes.
difference between these and the Mint Bureau’s results,
$73,000
$280,000
$2,500 $120,000
«476,890 60
J a n .14.
58,000 which can perhaps be, in part at least, harmoniz id for recent
272,000
5,000
88,000
423.811 87
“ 15.
66,000 years on this idea. W e gave our reasons in detail two
272,000
61,000
2,000
401,067 17
« 17.
661,000
66,000
140,000
4,500
672,626 04
« 18.
81,000 years ago for rejecting the older Mint estimates. They
407,000
103,000
3,000
594,848 82
« 19.
131,000
55,000 were made up from very little original data at a time
46,000
4,500
236,928 25
« 20.
$399,000 when gross exaggeration was general in mining circles
$21,500 $558,000 $2,023,000
Total. $3,006,192 75
~Included in the above payments were $7,500 in silver and almost necessary in a Government official who
attempted to report mining results; and as those results
coin, chiefly standard dollars.
differed so widely from Mr. Valentine’s reports based upon
actual express returns which could not be far wrong, the
trade never received them. But it is not our purpose to
GOLD AND SILVER PRODUCTION SINCE 1851.
open that question again. Latterly it is satisfactory to
According to the usual first of January report of Mr. note that the difference between these two authorities has
Valentine (of Wells, Fargo & Co.), which was made pub gradually become less, while the Mint method has been
lic a week ago, the production of both gold and silver ap growing more thorough, and we think it quite possible
pears to be on the increase in this country. The develop that they may now be reconciled on the basis referred to
ment is not so very large in either metal in view of the above.
general revival of all industries the past eighteen months;
W ith regard to the aggregate production in 1886, Mr.
and yet in silver production the constant and decided gro wth Valentine gives the following.
s a surprise to many, under the decline in price which
has so long been in progress, the two conditions moving
Gold Dust
Ores
Gold Dust
Silver
and
at about equal pace, only in opposite directions, the produc States and Territories.
and
Bullion Bullion by and Base
T otal.
Bullion
by
Bullion by by other Express.
tion going up as the price has gone down ever since 1872.
Freight.
Express. conveyncs
But with regard to gold the course has until two years ago
§
$
$
$
$
been with slight variations just the reverse; that is, as the California....................... 12,579,353 628,678
563,948 14,690,385
918,403
9,169,920
5,502,598 1,927,363
1,739,939
demand for it has become more urgent the production has
703,217
1,310
25(\000
451,907
164,694
25,000
139,694
fallen off— not very materially, but constantly. The lar
444,975
50,000
gest yield of gold since 1870 (when Mr. Valentine began Idaho............................... 1,816,500
7,733,500
300,000 2,603,000 3,015,000
500,000 7,840,000 10,400,000 20,840,000
his compilations), according to the Mint estimate, was M ontana........................ 2,100,000
8,631,595
3,080,759 5,531,698
19,140
5,750,000 15,750,000 25,000,000
$51,200,000 in 1878, and according to Mr. Valentine was
3,500,000
3,821,871
50,000
279,909 3,387,178
104,784
M exico.................
$44,880,223 in 1877; from this point the decline was, ac New
6,103,373
100,000 1,371,083 4,048,468
583,827
Arizona, r......................
2,856,687
251,437
200,000
cording to the Mint, to $30,000,000 in 1883, and according
2,108,694
12,000
1,627,204
469,490
742,845
to Mr. Valentine to $25,183,567 in 1884.
50,009
692,845
British Columbia..........
103,011,761
These facts are simply cumulative evidence proving
T otals....................... 26,997,727 2,153,678 29,224,701 44,635,655
how very little, the actual cost of production has to do
Oat of the foregoing “ aggregate” of gold, silver, copper
with the ruling value of either metal. Mining is a kind
and
lead, Mr. Valentine finds the results “ approximately
of lottery. Large amounts of money are lost in it every
as
follows.”
year. But that does not dispirit the public, for when a
for the week, whereas the figures below should reflect the
actual chtyjge in the condition of the banks as between
Friday of last week and Friday of this week.
January
22, 1887.]
THE CHRONICLE1
103
rose from $320,000 in 1884 to $1,531,900 in 1886. The
fact is that silver and gold are generally found together,
and must be mined together; and hence if silver demon
etiz&tion is continued until that metal loses almost all itvalue, the loss on it will prevent the working of the large
Total as above for 1886 ...........................$103,011,761 majority of the gold and silver mines, and hence prevent
the production of the gold in the ore which comes out of
These figures as stated above include British Columbia
those mines. In.other words, cutting off the new siland express receipts at San Francisco from the west coast
ver supply means cutting off the new 'gold supply as
of M exico; after deducting these we have left for the
well.
United States $29,561,424 of gold and $52,136,851 of
W e need not dwell longer on these special features
silver. The mint figures of gold for 1885 were $31,801,*
which current production in the United States suggest.
000 ; Mr. Valentine’s for that year were only $26,393,756.
The inquiry of chief interest and to which the facts
Mr. Kimball, Director of the Mint, thinks his total, made
already given lead, is the world’s total supply. That is
up from the year’s deposits at the various mints, must be
a subject that we have attempted to investigate annually
accurate. W e have no doubt of his endeavor to make it
for many years, and every year we are more and more
so, and if we are authorized as already suggested to vary
impressed with its difficulty. Even the product of the
Mr. Valentine’s division and percentage of gold, &c., to
United States, if one seeks only to accept correct data,
that extent, a correspondence in results could be attained.
becomes a very embarrassing problem. The figures prior
The difference in that year (1885), after allowing say
to 1870 which pass as Mint figures are known to be
about $500,000 for Eastern States, which Mr. Valentine
wholly estimates and believed to be exaggerations. They
does not include, would be about $5,000,000. That is a
have never been accepted by the trade, and they find no
large variance, but it was in just about the same amount
support in either our exports of the precious metals or in
in 1884. Adding then that sum to Mr. Valentine’s 1886
current Mint deposits. Yet it seems impossible to correct
total would make the Mint figures for gold for the last
them now, except by substituting other “ guesses;”
twelve months $34,500,000, showing a marked revival in
so in lack of facts we are compelled to insert
the gold production of the United States.
them with this protest.
But in compiling any
But there is a feature in this production of decided
statement of the old stock of gold in the world
interest, and one which deserves the special attention and
we think a considerable deduction can be safely made for
thought of those who would demonetize silver. W e refer
those years. Since 1870 and down to 1883 we use Mr.
to the fact that the mining of gold found alone is all the
Valentine’s returns as the basis of our gold estimates.
time falling off, and that the increased yield of that metai
•For the years following we accept in the main the Mint
noted above comes from mines in which silver and gold are
figures. The Mint estimates are now prepared from sub
together. Is it not possible that this union in nature may
stantial data with great care, and though the method assumes
force a union in the money of commerce, even if nations
perfect accuracy in the accounts of the different Min ts in
should continue their efforts to divorce them ? Gold is
separating domestic from foreign bullion and coin de^
scarce even now. Nations are struggling for i t ; of that
posited, etc., yet the results reached as now made up can.
we need no other witness than the banks at European cen
not b8 far astray. Besides they are Government figures,
ters which guard it so closely as to put a premium on with
and being such, we desire to adopt them unless there is
drawals for export and give light-weight coin at that. It
clear reason for rejecting them.
does not require a vivid imagination to picture the condition
As to other countries, the increased importance of the
among them when silver currency is everywhere rejected,
investigation has led us during the last six months to use
even in the Eastern silver-using countries; for we all know
special effort to secure revised estimates everywhere. W e
t must come to that if the discredit now in progress is not
have only been partially successful, but with the assistance
arrested; and when it does the value and use of silver
of figures obtained by our State Department for the Direc
will be brought down to
a manufacturing basis.
tor of the Mint, we think the results we now give will re
W ith that result in view one can see the force
quire less change hereafter than any figures hitherto
of the fact referred to, that the only kind of issued. One feature has become more obvious the more
gold mining that is progressing now is where gold
we have extended our investigation, and that is the tend
and silver are found together— that is where each adds to
ency to exaggeration which older estimates disclose and
the inducement for mining and helps pay the expenses.
which many countries, mainly the smaller producers^
This truth finds further illustration in the annual record
even now show.
It is true, however, that the
of total dividends paid as prepared by the Engineering & late increase in the production of the precious
Mining Journal for the past three years. Their report is metals which as we have seen is so noticeable a feature in
as below. These figures we should add are not claimed
the United States, is also in a measure apparent in the
to be a complete record of profits realized in gold and
production of some other countries.
As mining
gold and silver mining, as many returns are not obtainable.
machinery and methods improve, increase in yield
The comparative results for which we reproduce them
would be natural even though no new enterprises were
are however correctly represented by the statement.
being started; but the impulse for new undertakings can
not be resisted where the chance for money-making has so
1884.
1885.
1886.
Dividends by mhfies—
Producing gold only........................... $2,222,324 $1,885,092 $1,567,434 wide a margin of possible profit; such a venture has pecu
698,027 1,531,900
320,000
Producing gold and silver.................
48,000 liar attractions the world over, and capital seems to be
32,000
Producing gold, silver and lead.......
36,000
333,301'
344,600 always awaiting every enthusiastic prospector.
Producing gold, silver,lead & copper.
Y et in
Total................................................ $2,578,324 $2,948,419 $3,491,934 spite of these natural tendencies, there was a kind of
The foregoing brings out the truth clearly that divi lull in gold operations for years back, just as if the
dends by mines producing gold only are steadily declining sources were drying up, the richer findings having been
each year, the tot^l given in this compilation as distributed exhausted. Possibly this was the transition or reactionary
by such mines in 1884 being $2,222,324, against $1,567,* period— that is to say, the passing from mining that was
In
4.34 in 1886, whereas those producing gold and silver pretty easy to mining that was harder work.
Gold, 29Ty 0 p ercen t...........................................$30,773,759
Silver, 52tY q per cent....................................... 53,776,055
Copper, 9 p ercen t......................................
9,276,755
Lead, 87Yo per cent...........................................
9,185,192
104
THE CHRONICLE.
[Vol. XLTV,
America the recovery in the aggregate output was further j duct we have the consecutive annual figures since 1822 and
delayed by the decision three years agoarespecting hydrau- give them below in pounds sterling.
GOLD AND SILVER PRODUCED IN THE RUSSIAN EMPIRE.
lie mining whicif stopped the working of the old débris
mines. But these checks to development seem to have
Year.
Gold.
Silver,
Year.
Gold.
Silver.
been passed now, and it looks as if the world’s gold supply 1822 . . . .
£121,013
£156,719 1854 . ... £3,591,466
£148,377
1 8 2 3 ___
237,527
157,704 1855 . . . . 3,709,790
might hereafter be a slowly increasing quantity.
146,731
1824 ...
462,909
159,674 1856 .... 3,723,736
145,831
533,987
160,377 1857 . . . . 3,899,401
W ith regard to Australia, however, taking the latest 1825 . . . .
148,855
1 8 2 6 ___
520,153
160,237 1858 . . . . 3,847,665
144,515
633,856
reports as correct, no improvement is to be noted. Yet 1827 ___
159,111 1859 . . . . 3,461,240
152,513
1828 . . . .
654,366
156,157 1860 . . . . 3,354,624
154,735
in one sense there may be said to** be an improvement, for 1829 . . . .
651,626
157,282 1861 . . . . 3,275,021
136,616
1 8 3 0 ___
860,587
180,354 1862 . . . . 3,285,777
145,409
when comparison is made of the last three years with 1 8 3 1 ___
904,246
185,419 1863 . . . . 3,282,871
151,739
1 8 3 2 ___
950,784
184,434 1864 . . . . 3,144,105
153,625
previous years, it looks as if the retrograde movement was 1 8 3 3 ___
921,993
176,696 1865 . . . . 3,544,980
152,541
1 8 3 4 ___
910,996
177,540 1866 . ... 3,732,733
156,494
perhaps about arrested; even the 1885 total, though it is a 1835 . . . .
883,755
170,506 1867 . . . . 3,710,465
155,608
1836 . . . .
913,445
168,818 1868 . . . . 3,849,266
157,254
little less than the total for 1884, is a little larger than 1837 . . . .
995,320
169,240 1869 . . . . 4,563,401
108,334
1838 . . . . 1,109,136
172,616 1870 . ... 4,864,590
122,041
the total for 1883. W e speak inquiringly as to the correct 1839
. . . . 1,115,209
170,928 1871 . . . . 5,400,373
116.597
1 8 4 0 ___ 1,030,185
169,455 1872 . . . . 5,192,090
105,821
ness of the latest reports, because though they are elaborate 1841
. . . . 1,453,955
169,240 1873 . . . . 4,554,632
85,323
8 4 2 ___ 2,044,850
169,803 1874 . . . . 4,561,830
101,347
and apparently official they differ somewhat from previous 11843
. . . . 2,792,296
166,567 1875 . . . . 4,489,070
84,564
2,878,892
167,837 1876 . . . . 4,620,310
96,142
official compilations. They are prepared by Mr. George 11 88 44 54 ___
___ 2,940,300
167,552 1877 .... 5,628,281
95,860
. . . . 3,624,991
167,963 1878 . . . . 5,785,253
98,393
Anderson of Her Majesty’s Mint at Melbourne, at the 1846
1847 . . . . 3,952,491
160,799 1879 . . . . 5,919,506
98,097
1848
.
.
.
.
3,789,416
159,814
1880 . . . . 5,932,120
85,105
request of Mr. Kimball, the Director of our Mint. W e
1849 . . . . 3,569,883
161,503 1881 . . . . 5,047,737
81,033
150,248 1882 . . . . 4,931,391
received a statement last year from Mr. Hayter, the Gov 1850 . . . . 3,270,050
66,824
1851 . . . . 3,315,035
148,053 1883 . . . . 4,835,733
*66,824
149,559 1884 . . . . 4,507,914
ernment Statistician, which brought the total down from 1852 . . . . 3,074,134
80,165
1853 . . . . 3,292,093
143,972 1885 . . . . 5,235,169
133,559
the first discovery in Australia to 1883 ; it covered
just the same years except the latest ones, but the results
The total Bussian production for these sixty-four years
do not accord with these which Mr. Anderson furnishes. reaches, according to the above, £193,892,019 gold and
For instance for 1882 the Government Statistician’s figures £9,153,049 silver.
sent us reported the details for each colony with an
Other countries’ contribution to the world’s gold and
aggregate for the year of 1,553,542 ounces, valued at silver supply seems to us quite an uncertain quantity.
£6,086,860 ; the statement Mr. Kimball has from Mr. Within the last six months, as already stated,
Anderson makes that year’s results at 1,545,966 ounces. we wrote to every producing country
for
its
This to be sure is not a large matter, but a similar variance official figures, and have followed the inquiry up with
seems to extend through previous ’years; and yet we only considerable diligence since. W e are obliged to say, how*
refer to these differences^ because this new statement ever, that though the claims made are definite, and in many
(which is apparently official and final) makes necessary cases quite large, we cannot trace where the South Ameri
corresponding changes in our general table of the world’s can production goes if it is mined, The United States
production. The totals for 1885 and for the whole period does not receive it, nor does Great Britain receive it
since the first discoveries are as below. W e have added according to the official trade figures, nor is there any
the values on the basis of 77s. 9d. per ounce, the price at evidence that it is kept for home use. For the eleven
which the Bank of England is obliged to buy gold of months ending with December 1st, Great Britain exported
standard fineness.
in 1886 to South America and Mexico £3,942,689 of gold
and only reports an import from the same countries of
PRODUCT OF GOLD IN AUSTRALASIAN COLONIES.
gold at £1,863,548 ; of silver she imported only £3,052,1861
1851
Colony.
to
1882.
1888.
1884.
1885.
to
534 in 1886. Almost all of the silver included in these
1881.
1885.
imports was from Mexico, and yet Bolivia alone reports
Os.
Os.
Os.
Os.
Os.
Os.
Victoria...... 50,600,604
804,010
780,253
778,018
785,218 53,759,208 a production of 16 million dollars of the same metal in
N. So.Wales. 9,225,168
140,409
128,806
107,199
103,786 9,700,878
Queensland.. 8,788 800
224,898
212,788
307,804
810,941 4,840,221 1885, the exact amount that was also claimed for 1883.
So. Australia
101,508
15,608
15,988
21,454
18,327
172,955 The Mexican figures, both the production and coinage, are
Total of AusWe
68,711,040 1,245,640 1,188,780 1,215,075 1,168,222 68,472,757 given by Mr. Valentine for ten years in his circular.
Tasmania....
240,375
49,122
40,577
42,839
87,817
415,730 should mention that Mexican officials do not accept these
New Zealand 9,822,755
251,204
248,874
229,946
237,371 10,789,650
returns, making up a much more ambitious showing of
Total of Aus
tralasia .... 78,774,170 1,545,966 1,427,731 1,487,860 1,442,910 79,678,137 their mining results ; but investigation does not confirm
£
£
£
£
£
£
their higher estimates, and we follow Mr. Valentine’s re
Total values. 280.797,087 0,009,897 5,550,804 5,782,150 5,609,312 309,748,750
port. The totals we give in our tables below of the pro*
For Bussia the later statements of production show ap duct of gold for “ other countries” and of silver under the
parently some recovery.
Mr. Kimball, Director of our head of ‘‘ South America,” although less than some of the
Mint, has obtained and publishes in his last report not current estimates, cover, we think, large allowances.
only the official figures of production for 1885, but a full Using the data we have thus referred to in detail, we have
and very interesting statement of the coinage rules, regu prepared the following as covering the total gold produc
lations and system of Bussia, which were in some particu tion of the world since 1851.
lars materially changed in 1886. The production of the
WORLD* GOLD PRODUCTION.
mines during 1885 is given at “ 38,125,517,254 grams
1
2
3
4
5
“ valued at gold 31,778,094 roubles 81£ copecks.” The
Produc- Produeti’n Produc Producti’n
Total
Gold.
tioh in
in United tion in
in O tiler Production
equivalent of 31,778,094 gold roubles would be about
Australia.
States.
Bussia. Countries. in World.
£5,235,169, which is the largest production in any year
£
£
&
£
£
.. 1,769,388 11.363.636 3,315,035 1.500.000 17,948,059
since 1880. It will be noticed, however, that the reported 1851
1852
.. 12,453,258 12.396.694 3,074,134 1.500.000 29,424,086
.. 13,179,711 13,429,752 3,292,093 1.500.000 31,401,556
yield of the Bussian mines was given for 1884 at the very 1853
1854
.. 9,930,705 12.396.694 3,591,466 1.500.000 27,418,865
small figure ot £4,507,914 and it may be that a portion of 1855
.. 12,007,649 11.363.636 3,709,790 1.500.000 28,581,075
the 1885 production really belongs to the previous year. Total *51-55. 49,340,711 60,950,412 16,982,518| 7,500,000 134,773,641
I f so, it would appear that there has .been no material 1856
.. 12.970.539111.363.636 3,723,736 1,500,000 29,557,911
1857
.. 12.105.507111.363.636 3,899,401 1,500,000 28.871,544
change in the yield for four years. £ Adding the 1885 pro- 1858
.. 11,641,866 10,330,578 3,847,665! 1,500,000 27,320,109
J
anuary
THE CHRONICLE.
2 2 , 1 8 b 7 ,]
1
2
Produc Produoti’n
tion in
in United
Australia.
States.
Gold.
3
Produc
tion In
Russia.
4
5
Produoti’n
Total
in Other Production
Countries. in World.
£
£
£
£
£
.. 10,820,978 10,330,578 3,461,240 1.500.000 26,112.796
.. 10,538,192 9,504,132 3,354,624 1.500.000 24,896,948
1859
1860
Total ’56-60' 58,080,082 52,892,560 18,286,666 7,500,000 136,759,303
1861...........
8,884,298 3,275,021 1.750.000
1862........... 11,195,079 8,099,174 3,285,777 1.750.000
1863
.. 11,225,192 8,264,463 3,282,871 1.750.000
1864
.. 9,878,192 9,524,793 3.144,105 1.750.000
1865
.. 10,125,178 10,996,900 3,544,980 1.750.000
24,766,177
24,330,030
24,522,526
24,297,090
26,417,058
Total ’61-65. 53,280,499 45,769,628 16,532,754 8,750,000 124,332,881
1866........... 10,382,794 11,053,719 3,732,733 2,000,000
1867
.. 9,950,946 10,685,942 3,710,465 2,000,000
1868
.. 10,406,673 9,917,355 3,849,266 2.000,000
1869
.. 9,752,937 10,227,272 4,563,401 2,000,000
1870
.. 8,510,263 8,264,463 4,864,590 2,000,000
27,169,246
26,347,353
26,173,294
26,543,610
23,639,316
Total >66-70. 49,003,613 50,148,751 20,720,455 10,000,000 129,872,819
..
1871
1872
..
1873
..
1874
..
...........
1875
9,822,605
8,979,057
8.320,828
7.215,138
6.878,944
8.057.851
7,887,810
8,101,033
7,947,521
8.257.851
5,400,373
5,192,090
4,554,632
4,561,830
4,489,070
2,000,000
2,000,000
2,000,000
2,000,000
2,000.000
25,280,829
24,058,957
22,976.493
21,724,489
21,625,865
Total ’71-75. 41,216,572 40,252,066 ’24,197,995 10,000,000 115,666,633
1876...........
..
1877
1878
..
1879
..
1880
..
6,112,242
5,524,783
5,955,105
5,905,198
6,165,361
8,860,950
9,297,521
8,057,851
6.869.835
6.869.835
4,620,310
5,628,281
5,785,253
5,919,506
5,932,120
2,000,000
2,0U0,000
2,000,000
2,000,000
2,200,000
21,593.502
22,450,585
21,798,209
20,694,539
21,167,316
Total’ 76-80. 29.662,689 39,955,992 27,885,470 10,200,000 107,704,151
1 8 8 1 ...........
1882 ...........
1883
..
1884
..
1 8 8 5 ...........
6,212,921
6,009,897
5,550,304
5,782,156
5,609,312
6,611,570
6,198,347
5,785,124
6,363,636
6,570,248
5,047,737
4,931,391
4,835,733
4,507,914
5,235,169
2.500.000
2.500.000
2.500.000
2,5(0,000
2,500,000
20,372,228
19,639,635
18,671,161
19,153,708
19,914,729
Total ’81-85. 29,164,590 31,528,925 24,557,944 12,500,000 97,751,459
1886............ *5,609,312 6,818,181 *5,235,169 *2,500,000 20,162,662
‘ Estimated.
Note.—The production of Queensland for the years 1851 to 1877
inclusive (£10,299,886) was gireu as a single item at the close of 1877.’
We have, however, divided it equally among the years named, adding
to each of those year’s production £381,477.
The foregoing shows a total gold production in the
world since 1851 of £867,023,554— of which £315,358,068 was the yield of Australasian mines, £328,316,515
was the yield of the mines of the United States, £154,.
398,971 was the yield of Russian mines and the remain
der, £68,950,000, was the yield of the mines of all “other
countries.”
It was our purpose to carry back figures of silver pro
duction to the same date as given above for gold, but we
have not yet obtained sufficient data. Hence, with regard
to that metal we simply reproduce our compilation of last
year (which carried back production to 1877) adding this
year’s results.
WORLD’S SILVER PRODUCTION.
Silver.
1
United
States.
2
Mexico.
3
South
America.
4
Europe,
&c.
1877...........
1878...........
1879...........
1880...........
£
8,000,000
9,000,000
8,200,000
7,850,000
£
4.500.000
4.600.000
4.800.000
4.850.000
£
2,000,000
2.300.000
2.500.000
2.600.000
£
£
2,000,000 16.500.000
2,200,000 18.100.000
2.400.000 17.900.000
2.500.000 17.800.000
5
Total.
105
only a brief period of peace and firm rates among the rail
carriers to demonstrate how important an element in
through transportation the canals still are.
An illustration of the truth of this statement is afforded
by the figures we present this week showing the grain
receipts at New .York during the late year, as compared
with previous years, and the amount contributed to the
total by the canal and each of the various rail routes.
The railroads were at peace in 1886 and a 25 cent tariff
on grain from Chicago to New York continued in force
the whole time, with scarcely any deviations on the part
of the pool lines. The year therefore is a good one for
observing what the water route is able to do when normal
conditions prevail— that is, when the state of things is
such as to give the canal a chance to demonstrate its
power and usefulness. In 1885 there was no such oppor
tunity, for though a settlement was reached between the
trunk lines in the summer of that year, and an effort at
once made to establish a higher schedule of rates, the effort
did not succeed and it was not till the 1st of October that
a 20 cent schedule was actually carried into effect and not
till the 23d of November (when canal navigation was
about over) that the 25 cent tariff was inaugurated.
Clearly, therefore, the conditions were not favorable to
a large traffic by canal in that year, but decidedly the
reverse. For our present purpose this difference is an
advantage, for by taking simply the figures for the last
two years, we have a perfect contrast between results in a
year when the canal is operating under favorable condi
tions and when it is not.
Briefly stated, then, the movement of grain to New York
over the canal in 1886 increased nearly 50 per cent on that
for 1885, and reached the large total of 44 million bushels.
In 1885 the total had been not quite 30 millions, the in
crease thus being over 14 million bushels. In the same
interval the aggregate receipts rail and water increased
only a little more than four millions, so that the additional
10 millions of increase by the canal may be taken as
reflecting the effect of the better conditions that existed in
1886 for water competition. Of course, no one need be told
that 44 million bushels is a very heavy contribution to
the total, but a better idea of the importance of the water
route will perhaps be obtained when we say that this
forty-four millions formed full one-third of the whole
receipts at New York, the railroads having together
contributed 84,741,170 bushels, and 2,132,370 bushels
having come by river and coastwise, thus making the
aggregate receipts, 130,910,062 bushels. Moreover, while
in 1886 the canal furnished over one-third the total, in
1885 it had furnished less than one-quarter. Here are the
receipts by routes for each of the last six years.
RECEIPTS OE GRAIN AT NEW YORK BY ROUTES JAN. 1 TO DEC. 3 1 .
Total 77-80 33,050,000 18,750,000 9.400.000 9.100.000 70.300.000
1881........... 8,600,000 4.900.000 2.600.000
1882............ 9.360.000 4.900.000 2,750,000
1883........... 9.650.000 4.800.000 3.000.
1884........... 9.750.000 4.900.000 3.000.
2.500.000
2.700.000
2.900.000
000
2.900.000
000
18.600.000
19.710.000
20.350.000
20.550.000
Total 81-84 37.360.000 19,500,000 11,350,000 11,000,000 79.210.000
1885
1886
.. 10.320.000 5.100.000 3.100.000 2.900.000 21.420.000
.. 10.800.000 5.320.000 3.100.000 2.900.000 22.120.000
THE CANAL AND N E W Y O R K GRAIN
RECEIPTS.
J a n - 1 to
Dec. 81.
N. Y. Cent. .
Per ct.
Erie............
Per ct.
Pennsylv’a..
Per ct.
D el.I¿.& W ..
P er ct.
W est Shore.
Per ct.
Var’us RRs..
Per ct-
1880.
Bushels.
27,372,585
20-91
20,669,936
15-79
10,049,575
7-07
10,221,078
7-81
10,006,272
7-61
0,421,184
4-91
1885.
Bushels.
30,079,712
28-50
24,979,551
19-73
15,229,591
12-02
5,718,428
4-52
10,001,299
7-90
959,959
0-75
1884.
1883.
1882.
1881.
Bushels.
Bushels.
Bushels.
Bushels.
30,880,489 32,125,015 38,832,554 43,503,849
25-84
33-94
31-14
20-70
19,970,256 28,705,288 24,428,613 35,051,057
23-13
21-30
25 05
17-30
10,982,200 13,000,494 15,854,717 19,050,844
10-50
13-62
13-85
9-52
5,713,008 4,581,770
3-69
4-95
*1,210,038
1'05
850,924
6,302,250
058,042
902,493
0-09
0-58
0-05
5-40
It is sometimes claimed that the canal has outlived its
Total RRs. 84,741,170 92,908,540 75,070,847 79,390,091 79,773,926 98,574,248
usefulness, that the railroads are steadily encroaching upon
73-42
03-85
70-40
09-73
Per ct.
64-73
0504
co a st. 2,132,370 3,738,304 2,417,902 3,725,238 2,431,048 i
it, and must finally supersede it altogether. Such argu R iv ,&Per
2*95
3-00
1-03
2-17 1 41,323,940
ct.
2-09
29-54
ments are common when the railroads are at war with Canal........... 44,030,522 29,930,587 37,925,257 41,220,908 32,150,406 j
28-10 J
33-64
33-15
Per ct.
23-63
32-87
each other and taking freight below the cost of moving it,
Total all... 130,910,062 126,037,431 115,420,060 124,336,237 114,405,3801139,898,188
and thus rendering competition on the part of the water
* Only for December; previously West Shore was not separately
route difficult and nearly impossible. It needs however reported.
106
THE CHRONICLE.
The canal thus shows for 1886 the largest proportion
(33-64 per cent), and for 1885 the smallest (23-63 per
cent) in any of the years given. A larger amount came
by canal than in any of the other years— larger even than
in 1881, when total receipts wbre nine millions greater.
W e would have to go back to 1880 and 1879 to find an
equally large movement by canal. In those years, however
the total receipts (rail and water) were very much heavier
than now, and the canal’s proportion was also larger. In
1880, for instance, 43-57 per cent came by water (no
distinction was then made between canal receipts and
these coming coastwise), and this 43-57 percent amounted
to 73,677,721 bushels, against the 46,168,892 bushels
coming in the same w#y in the late year. Both 1880 and
1879, however, were exceptional years as regards the size
of the crops and the extent of the foreign demand. It is
sufficient to know that the canal has done better than in
any recent year, and has furnished over one-third of New
Y ork ’s total grain movement.
W ith such an excellent showing for the canal, it seems
almost paradoxical to say that the railroads also have
reason to congratulate themselves upon their exhibit.
They have lost in volume of traffic (though not in earn
ings), but a loss was calculated upon, and the falling oif
(as a whole) is perhaps less than expected. Owing to the
low rates at which business was taken in 1885, the grain
movement by rail in that year was unusually large—
larger than in any year since 1879, and reaching nearly
93 million bushels. From this heavy total the 1886
movement shows a falling off of not quite
million
bushels. It is only fair to say, however, that were it not
for the large gain by the “ various” or miscellaneous
roads, the falling off would be much greater. These mis
cellaneous roads had 6,421,184 bushels in 1886, against
only 959,959 bushels in 1885. The increase represents
chiefly the operation of the Lehigh Valley outside of the
pool, and presumably is the result of taking freight at
rates lower than those on the pool roads. Not having its
own line to Buffalo, the Lehigh is at a disadvantage.
When rates are low therefore it is not in a position to
compete for through traffic. On the other hand when
rates are high, the margin of profit being sufficient to
admit of the underbidding of the pool tariff, it can secure
a share of the traffic. This is what happened. But even
allowing for the increase on the miscellaneous roads the
comparison is a good one with all recent years except
1885. Thus excluding those roads we get an aggregate
of 78,319,986 bushels for 1886, 92,008,581 bushels for
1885, 68,774,591 bushels for 1884, 78,533,167 bushels for
1883, and 79,115,884 bushels for 1882.
A ll the individual roads, however, have not fared so
well, and especially is this true of the older lines. The
Lackawanna has done well enough, having increased its
total from 5,718,000 bushels to 10,221,000 bushelB, but
that merely swells still further the loss on the other
lines.
It
follows that
the
loss
on the three
original roads is very heavy, as the West Shore
carried about the same amount as in 1885. On the Erie
the falling off reaches over 4^ million bushels, on the
Pennsylvania over
millions, and on the New York
Central nearly 8 f millions. But against the loss in traffic
we have the gains from the higher tariff all through the
year. The latter, as we have frequently pointed out, was
much the more important circumstance. Renewed evi
dence to the same effect is offered by the following state
ment in our usual form, showing approximately the gross
revenue from through grain tonnage in December and the
twelve months, 1886 and 1885, on each of the five pool
lines.
[V
ol.
XLIV,
APPROXIMATE GROSS REVENUE FROM THROUGH GRAIN TONNAGE.
December.
January 1 to Dei. 31.
1886.
1885. IInc. or Dec.
New York Central.
Erie.........................
Pennsylvania........
Del. Lack. & West.
W est S h ore...........
*
141,000
97,000
49.000
52,000
138,000
* 1
232,000 Dee.
T otal.................
470,000
522,000f Dec. 40,000 4,611,000 3,714,000 Inc. 927,000
1886. | 1885.
Inc. or Dec.
$
$
$
*
91,000 1,615,000 1,470,000 Inc. 139,000
152,000] Dec. 55,000 1,228,000 1,010,000 Inc. 218,000
09,0001Dec. 21,000 593,000 613,000 Dec. 20,000
36,000 Inc. 16.000 610,000 233,000 Inc. 874,000
83,000 Inc. 105,000 595,000 379,000 Inc. 216,000
Thus, notwithstanding the heavy losses in traffic by the
Erie, the Pennsylvania, and the New York Central, the
Pennsylvania is the only one that shows diminished
earnings from the traffic, and that only slightly. On the
Central there is an increase of $139,000, and on the Erie
an increase of $218,000. Of course the heaviest increase
of all is that of the Lackawanna, which had both a larger
movement and better rates in its favor. The increase
reaches $374,000. The West Shore’s gain is also very
large, namely $216,000.
Taking the five roads together,
the gain is $927,000, which is a striking illustration of
the benefits resulting from the higher rates, bearing in
mind that this gain is made on a movement (on the five
roads in question) ’ nearly 14 million bushels less than in
1885.
It will be noticed that for December the results as to earn
ings are not quite so favorable, the total revenue not being
up to that for December, 1885,®and the three old roads
all showing considerable declines. This is owing in the
first place to smaller receipts (the new roads being the
only ones that increased their totals) and in the second
place to the fact that the advantages on account of a
higher tariff in that month were very slight. A ll through..
December, 1885, a 25 cent rate was maintained. In 1886
there was an advance to 30 cents on the 20 th of the
month, but the higher rate does not appear to have been
strictly adhered to ; bearing that in mind and also the
fact that the advance counted for only the last eleven
days of the month, we have in our calculations above
taken the average rate for the whole month no higher
than 26 cents. This gain of one cent (equal to only 20
cents per ton for the whole distance between Chicago and
New York) counted for very little against the loss of over
a million bushels in the receipts. According to the fol
lowing table the falling off in the movement would appear
to be very much less than a million bushels, but it should
be remembered that our calculation does not include the
“ various” roads, which contributed 1,027,149 bushels to
the rail receipts in December, 1886, against only 140,625
bushels in 1885, the Lehigh Valley apparently being as
active as ever.
Excluding these outside roads, the
receipts by the five pool roads on which we have figured
earnings foot up 7,550,076 bushels, against 8,623,163
bushels in 1885.
RECEIPTS OF GRAIN AT NEW YORK BY ROUTES DURING DECEMBER.
December.
N, Y . Cent. ..bush.
P er cent.
E r ie ....r.......bush.
Per cent.
Pennsylv’a. .bush.
P er cent.
Del. L. & W..bush.
P er cent.
W est Shore. .bush.
Per cent.
Various RRsJ[>ush.
P ercen t.
1886.
1885.
1884.
188a
188a
1881.
2,230,515 3,831,993 3,810,081 2,786,355 4,688,207 2,770,520
8990
4054
45-62
39-02
51-06
2467
1,533,188 2,504,056 1,558,245 2*045,806 2,968,768 1,403,221
29-76
28-88
26-08
18-37'
25-80
16-91
785,815
821,051 1,909,202
707,682 1,148,639
631,432
9-27
11-94
18-58
11-61
8-47
11-96
837,319
313,099
589,387
817,430
9-88
4*55
902.
6-18
2,195,261
548,488 1,210,038
14-34
24-21
5-71
192,047
93,443
43,287
140,625
98,581
1,027,149
1-16
0-80
2-81
0-90
1-47
11-33
T otal R R . .bush. 8,577,225 8,763,788 7,800,079 0,158,358 9,659,632 4,854,460
8927
89-60
92-04
93-98
94-61
91-25
Per cent.
333,531 197,3951
251,951
842,575
112,564
River A coastw.b u.
583,574
4 85
1-92 !
2-97
8-57
Per cent.
1-24
381,800 421,887 [
10-73
423,100
376,500
497,200
Canal............ bush.
5*55
4 10 J
4-99
5-18
4-15
Per cent.
Total all ...bush. 9,066,289 9.003,563 8,481,130l 6.873,189 10,278,964 5,488.034
N o t e .—In tlie above table llour has been reduced to grain on the basis
of 4*3 bushels to a barrel, and no distinction made in the weights of the
different kinds of bushels, all being added together on the same basis.
January
107
IH E CHRONICLE.
22, 18&7.J
Aside from the prominence assumed by the miscel- j been receiving better prices for their product, and the
laneous roads, the feature of chief moment in this Decem Pacific roads have had a war on trans-Continental busi
Hence, some of these have
ber statement is the extraordinary amount of grain ness to contend against.
brought in by the W est Shore, its total reaching over 2^ fared poorly, and the bad result on them has operated to
million bushels,and its percentage 24-21,against but 5-71 per make the aggregate less favorable than it otherwise would
cent in the same month of 1885. The road delivered only a be. It is desirable therefore that we should separate the
trifle less than the Central itself, and the two A anderbil1 roads into groups or classes and see what kind of a com
roads together had nearly one-half (actually 48-88 per parison we get on that basis for each set. This is done in
cent) of the entire deliveries, rail and water. In this way, the following.
wthough the Central lost heavily (1,595,478 bushels) on
Gross Earnings.
Net Earning*.
its own movement, it more than made good the loss by
November.
1885.
1888.
1883.
Ine. or dec.
1886.
the gain (1,646,773 bushels) on the W est Shore. The
$
t
$
$
$
other new road, the Lackawanna, also increased its Trunk lines.............. .(6) 8,643,624 7,837,211 2,785,209 2,658,133 +127,076
+78,636
683.630
288,823
209,687
VUddlo W estern.. .. (8)
805,718
receipts, but the Erie suffered a decrease of 971,468 N orth w estern ......... .(5) 2.942,940 2,973,913 1,392,303 1,441,927 —49,624
+32,653
1,320,074
1,288,021
2,362,269
2,565,081
W
est
o
f
M
issouri...
•(4)
bushels and the Pennsylvania a decrease of 380,957
3,392,240 8,678,429 —286,189
Pacifle Systems........ .(6) 8,355,840 8,024,630
bushels, and neither of course had a counterbalancing Southern roads....... (ID 3,394,609 2,924,859 1,372,381 1,149,854 [+222,507
-29,013
205,765
441,850
176,752
Texas roads ........... .(2)
448,176
gain such as the Central had.
5,378,587 4,763,817
2,557,419 2,177,341 +880,078
Coal com panies...... .(6)
Eastern companies. •(6)
Mexican road........... .(1)
THE COURSE OF N E T EARNINGS.
Statements of gross earnings are of course useful, bu
statements of net earnings are more especially so to the
investor. W e gave in our last issue an extended review
of the former for the late calendar year. In the present
number we are able to present an exhibit of the net earn,
ings, not for the full year, but for the eleven months,
actual results for December not yet being obtainable. We
deferred publishing the statement to get completer
returns, and also to enable us to give the aggregates, the
number of roads now reporting being so large as to make
a footing very desirable.
Fall details with regard to individual roads follow, as
usual, at the end of this article, but in respect to them al
no better idea, we think, can be afforded of the course o*
gross and net earnings than is offered by the following
exhibit, embracing all the roads on which comparisons can
be made for the two years.
November.
(53 roods.)
1888.
1885.
I Jan. 1 to Nov. SO.
|______ (51 roads.) ■■
1886.
1885.
Gross earnings................................. .
Operating exp en ses.........................
t
$
$
$
34,242,917 31,520,535 330,923,367 308.757,336
20,271,102 18,063,511 212,608,213 196.733,318
Net earnings.................................
13,971,815 13,457,024 118,315,124 112,024,018
Tnis comprises an important body o£ roads— in number
not so large as contained in our exhibit of gross earnings
last week, but covering more of the larger systems, nota.
bly the Pennsylvania, the Union Pacific, the Burlington &
Quincy and the Southern Pacific. As a consequence, the
aggregate of gross earnings here for the eleven months is
almost as great as that last week for the full year, amount
ing to only a trifle less than 331 millions ($330,923,367).
As against this total in 1886, the total in 1885 was $308,.
757,336, so that we have an increase of over 22£ million
dollars, or about 7£ per cent. This gain of 22 millions,
however, was accompanied by an increase of nearly 16
millions in expenses, so that the exhibit; of net is not quite
bo satisfactory, the gain being only 6£ million dollars, or
about 5 f per cent. It follows clearly from this that the
cost of operating has increased, which is not unnatural
considering that the price of nearly everything that enters
into railroad accounts has materially advanced. Tnis fea.
ture has latterly been developing, and hence it is that the
figures for November show its effects more strikingly than
those for the eleven months. Tnus53 roads for November
record a gain of $2,722,382 in grois (8 f per cent), and
of only $514,791 (not quite 4 per cent) in the net.
But there is still another circumstance to be considered
in connection with the augmented expenses. Some of the
roads have been operating under unfavorable conditions.
For instance, the anthracite coal roads have only recently
Total, 53 roads..
Jan 1 to Nov. 30.
Trunk lines............ (8)
Middle W estern ... •(4)
N orthwestern........ .(5)
W est o f Missouri... ..(4)
Paciflc Systems...... .(6)
Southern roads__ (ID
Texas roads............ ..(2)
Coal com panies__ .(6)
Eastern companies .(6)
Mexican road.......... ..(1)
Total, 51 roads.
1,334,816
879,902
1,190,049'
312,481
34,212,917 31,520,535
90,223,599
8,330,512
80,841,594
23,584,090
81,512,453
31,581,762
3,107,814
47,150,181
14,174.639
3,416,723
I
80,099,621
5,769,780
80,242,770
21,874,458
76,7C0,124|
28,959,069
2,755,735
46,489,708
12,653,207
8,212,864
493,134
154,733
+13,37,
+24,796
13,971,815 13,457,024
+514,791
507,005
179,529
28,889,217
2,265,542
14,008,167
10,150,990
82,512,045
11,463,575
803,570
11,767,82«
5,281,480
1,172,709
24,062,773 +4,836,444
1,726,506 +539,036
13,263,965 +744,208
9,038,815 +514,675
33,558,710 —1,046,06®
10,057,881 +1,405,744
+85,105
718,405
12,834,768 —1,006,93®
4,821,771 +459,709
1,352,974 —180,265
330,923,367 308,757,386 118,315,124 112,024,018 +0,291,
Here we^ have ten distinct classes of road, and while
every one of them has larger gross than in the same
eleven months of 1885, three of them have smaller net,
namely the Pacific systems, the coal roads, and the Mexi
can roads, the latter comprising simply the Mexican Cen
tral, which as will be seen by the November return has
latterly great improved in results. As a class, the coal
roads have done worse perhaps than any others. Am ong
these there is included the Buffalo New York & Philadel
phia, besides anthracite coal companies like the Reading and
Susquehanna & Western. The first-mentioned road is
still affected by the triangular fight on coal to Buffalo,
and thus tariffs are low and earnings small. The coal
companies would appear to have done very much better
in November, but while it is true that both their gross
and their net show a gain for that month, the improve
ment is more apparent than real, and owing chiefly to the
fact that the Reading in its figures has included in 1886
$592,774 spent for betterments during the year (this
being carried back as a credit item in the November
return), against only $108,303 so charged in the previous
year. The Pacific roads owe their bad statement mainly
to the unfavorable results on the Southern Pacific (which
has to bear the brunt of the Trans-Continental fight), and
to a heavy increase in the expenses of the Union Pacific—
the Northern Pacific, the Canadian Pacific and the Oregon
Navigation all having increased their net for the eleven
months, though the latter for November had a loss.
Of course, the trunk lines and the roads in the middle
western section have the largest ratio of gain. But all
things considering, the Southern roads have distinguished
themselves more than any others. The comparison in
case of the trunk lines is between a year of peace and
high rates and a year of war and poor rates, so the con
trast is very marked. On the Southern roads, however
there is no such distinction, and yet we find a gain of over
9 per cent in the gross and of 14 per cent in the net.
There is not a single one of the eleven Southern roads, that
does not record increased net for the eleven months,
though for November there are one or two that fa l
behind. Northwestern roads and the roads west of tho
108
THE CHRONICLE.
[VOL. X L IV ,
Missouri have only moderate ratios of gain, competition
November.
Jan. 1 to Nov. 30.
N a m e o f B o ad .
having been greatly increased in that section. On the
I 1886.
1886.
1885.
1885.
Eastern roads the gain is in good part due to the heavier So.’Pac. Co.—(Coalin'd)— I
$
G. W. Tex. A Pac..Gross.
4,684
42 489
8,235
earnings of the Rome Watertown & Ogdensburg, which
Net... def. 1,237
3,378 def. 15,,161
Louisiana West’n .. Gross.
57,359
578 ,627
64,238
518,671
has absorbed some additional mileage during the year.
Net...
31,254
294, 005
GROSS AND NET EARNINGS TO LATEST DATES.
Name
of
R oad.
November.
Jan. 1 to Nov. 30.
Morgan’s La. AT.Gross.
N et...
N. Y. Tex. A Mex..Gross.
Net
393,558
157,272
15,796
3,383
94,917
43,679
783,290
238,581
2,041,719
828,599
2,825,009
1,067,180
117,067
19,030
81.671
28,512
2,351,431
834,945
95,154
29,076
39,918
288,290
465,353 3,658, 143
683,382
883,079
204,192
331,444
144, 7851
24,751
8, 459
10,390
896, 014
91,990
892,232
383, 198
46,538
405,180
998,502 7,672, 825} 8, 221,776
487,346 1,814, 000 3, 404,771
1,715.519 21,284, 274 19, 631,129
771,922 10,449, 920 10,,465,475
2,714,021 28,957, 097 27,,352,902
1,259,768 12,263, 920 13, 870,247
110,3951
628, 718 1, 285,507
14,589
8,646
157,537
41,711
744, 927
222 , 831
1,438
2,382,206 24,260, 254 23, 371,557
1,005,5111 8,161, 751 8, 763,339
85,382 1,268, 891 1, 199,148
30,7021
48“ 5191
462,084
Texas A New Orl..Gross.
N et...
Tot. Atl. system...Gross.
9
9~
N et...
Atoli.Top. & S.Fe...Gross. 1,719,355 1,603,413 14,459,378 L4,318,024
Pacific system... Gross.
N et... 985,543 997,534 7,110,200 7,042,939
Net...
Baltimore & Poto....Gross. 117,393 115,831 1,226,236 1,215,247
Total
of aU ............ Gross.
Net...
23,428
56,677
482,159
501,711
Net...
Buff. N. Y. A Pliila..Gross. 204,336 213,072 2,374,080 2,211,742
N et... def. 507
58,761
408,411
552,554 Summit Branch....... Gross.
N et...
Burl. Ced. B. A No..Gross. 290,670 313,006 2,626,530 2,826,605
N et...
98,301
89,362
704,224
855,625 Toledo A Ohio Cent..Gross.
Net...
Cairo Vincennes &C.Gross.
63.092
45,993
595,544
435,111
Union Pacifio............Gross.
N et...
6,211
8,302
132,524
California South......Gross.
Net...
86,258
650,290
West Jersey A Br’s..Gross.
N et...
24,136
20,747
Cam. & Atl. and Br.Gross.
Net...
31,310
30,513
569,693
533,128
Net... def. 3,071
2,296
138,232
144,413
Canadian P a cific....Gross. 1,073,286 814,066 9,187,702 7,637,283
Net... 448,236 302.004 3,423,240 2,984,184
RAILROAD EARRINGS.
Cp. Fear & Yad. Val.Gross.
21.408
205,884
16,769
188,103
8,936
Net...
6,420
101,329
86,627
Owing
to
the
fact that earnings last year in January were
Ohesap. & Ohio........Gross.
353,551 284,630 3,755,867 3,047,039
Net...
98,208
79,507 1.142.723
876,839 reduced by bad weather, the gains this year are unusually
Eliz. Lex. & B. S .. .Gross.
63,294
89,858
856,683
648,735
N et...
31,306
296,773
23,114
248,947 large. For the second week of the month 41 roads show an
Ches. Ohio & S. W...Gross. 178.983 151.5 46 1,516,450 1,423,569 increase of $468,527, or 2 9 per cent, as follows:
Net...'
78,563;
53,326
580,369
456,388
Chicago Burl. A Q...Gross. 2,256,340 2,318,053 24,359,977 24,226,452
Net...j 1,149,733 1,249,090 11,851,352 11.366,435
2d week o f J a n u a ry .
1887.
Increase. Decrease.
1886.
Clu. Ind. St. L. A C..Gross; 203,429 194,678 2,354,586 2,167,761
N et...
77,175
917,231
72,388
$
$
792,738
?
9
Clevel’d A Canton.. Gross.
31,292
22,516
40,200
8,600
327,720
31,600
264,832 Buff. N. Y. A Phila...........
N et...
5,297
2,597
26,883
256
71,443
26.627
42,210 Buf. Rock. A Pittsburg»..
Denver A Bio Gr___Gross.
648,907 572,983 6,102,863 5,614,875 Cairo Vin. A Chic.............
12,649
6,223
6,426
N et... 253,170 214,970 2,250,150 1,986,632 Canadian Pacific.............
149,000
42,000
107,000
Denver A Bio Gr.W.. Gross. 101,450
93,564
5)723
29,760
24,037
961,400
946,351 Chicago A Atlantic..........
Net...
45,672
35,022
37,849
7)216
30)633
322,069
290,001 Chicago A East. Illinois.
Des Moines A Ft.D..Gross.
29,277
346,000
132,796
38,305
313,204
304,073
347,420 Chio. Mil. A St. P au l......
Net...
10,356
14,990
17,625
18,170
73,180
102,616 Chicago A West M ich __
545
Det. Bay City A A l..Gross.
Cincinnati Ham. A D ay..
28,30
47,980
46,401
1,579
217,480
Net...
Cin. Ind. St. L. A C ..........
15.408
117,310
53,107
46,540
6,567
East Tenn. Va. A Ga. Gross. 424,372 400,781 8,862,593 3,711,883 Cincinnati Rich. A Ft. W.
'534
6,132
5)598
Net... 212,910 165,956 1,384,611 1.218.914 Cincinnati Wash. A Balt.
41,555
26,861
14,694
Ft. W’th& Den. City. Gross.
52,476
399,171
41,514
7,988
7,094
894
430,266 Cleveland Akron A Col..
N et...
30,269
5,863
4,482
180,983
1.9,610
1,381
185,359 Col. A Cin. Midland.........
Grand Baplds & Ind.Gross. 209,417 191,456 1,891,124 1,795,551 Denver A Rio Grande__
116,450
19,273
97,177
Net...
87,963
2,239
81.574
7,443
5,204
675,058
557,448 Des Moines A Ft. Dodge.
Det. Lansing A Northern.
£ U
£
£
143
14,608
14,465
£
Grand Tr. of Can’da.Gross. 309,023 263,126 3,146,705 2,778,881 Evansville A Terre H __
12,746
3,223
9,523
N et...
62,764
4,984
31,886
26,902
951,434
56,168
658,767 Grand Rapids A Ind.......
Chio. & Grand Tr..Gross.
52,723
46,182
14,941
49)591
34)650
501,525 Indiana Bloom. A West..
564,366
N et...
15.092
7,362
27,337
16,510
10,827
124,889
71,047 Lake Erie A Western.......
Det. Gr. H. & M...Gross.
22,702
20,929
36,844
2,545
233,821
39}389
215,274 Long Island.....................
Net ..
6,157
283,100
85,870
5,740
197,230
70,513
56,471 Louisville A Nashville ...
Louisv. New Alb. A Chic.
32,505
9,104
23,401
$
$
$
$
Houst. A Tex. Cent..Gross. 389,374 404,662 2,708,643 2,325,469 Mexican Central..............
105,000
70,872
34,128
N et... 145,483 187,155
32,630
21,500
11,130
622,587
533,046 Milwaukee L. S. A West..
Louisville & NashV..Gross. 1,281,997 1,129,894 12,714,151 12,512,562 Milwaukee A Northern..
14,981
9,204
5,777
Net... 530,838 445,668 4,978,951 4,857,407 Minnesota A Northwest.
10,880
2,788
13,668
Loulsv. N.Alb. A Ch.Gross. 199,961 159,172 1,757,247 1,541,636 N. Y. City A Northern ...
7,700
2,208
9,908
N et...
41,525
80,601
20,060
18,024
2,036
581,830
324,795 N. Y. Ont. A Western. . . .
Loulsv. N. O. A Tex.Gross. 241,502 212,045 1,531,407 1,146,591 Norfolk A Western..........
68,068
45,575
2 2 ,4 93
N et... 110,154 110,410
124,806
14,759
110)047
416.459
244,367 Northern Pacific...............
Lykens Valley..........Gross.
60,465
16)702
8)923
7,779
694.459
70.308
732,927 Peoria Dec. A Evansville
Net... def. 1,762 def. 2,123 def. 93,074 df. 101,569 St. Jos. A Grand Island..
20,410
12,925
7,485
Memphis A Chari....Gross. 175,403 150.961 1,266,841 1.180.915 St. Louis Ark. A Texas ..
36,256
28,398
7,858
Net...
75,360
24,596
66,390
79,545
54,949
412,925
241,687 St. Louis A San F ran __
♦Mexican Cen trai... Gross. 379,902 312,481 3.416.723 3,212,864 St. Paul A Duluth...........
............
13,182
13,947
27,129
Net... 179,529 154,733 1,172,709 1,352,974 Toledo A Ohio Central...
19)214
6,946
12,268
Milw. L. Sh. & W ....Gross. 204,799 132,994 2,150,578 1,258,029 Wisconsin Central...........
19,453
23,264
3,811
Net...
65,993
Minn. St. Croix A Wis..
3)506
27,833
1,920
5)426
416,084
924,848
Minn. A St. Louis...Gross. 161,854 171,555 1,400,436 1,584,264
Wisconsin A Minnesota
8,121
10,261
2,140
N et...
67,920
60,143
451,563
523,205
Minn. A Northwest.. Gross
74,299
35,242
Total (41 roads)........ 2,064,974 1,596,447
469,072
545
N et...
27,785
12,273
468.527
Nash. Chat. A St. L. .Gross. 213,769 181,488 2,170,825 1,941,200 Net increase (29'35 p. ct.)
N et...
74,194
91,272
873,474
785,326
For the first week of the month, complete returns coverN. Y. L. E. A W.......Gross. 2,048,512 1,912,526 21,017.358 17,686,165
Net..
634,614 609,973 5,724,094 4,405,428 ing 56 roads record a gain of $387,749, or 17 per cent.
N. Y. A New Eng__ Gross.
347.703 308,210 3,636,812 3,136,914
Net... 139,730 122,690 1,325,993 1,129,729
1st w eek o f J a n u a ry .
1886.
1885.
In crea se. Decrease.
N. Y. Susq. A West..Gross. 107,735
97,344 1,016,895 1,005,950
N et...
52,242
49,690
434,820
468,304
$
$
$
*
$
Norfolk A Western.. Gross
337.703 270,636 2,984,721 2,521,643
331,696
4,245
N et... 130,645 116,719 1,198,090 1.011,984 Prev’lyrep’ted (44 roads) 2,102,243 1,774,792
12,882
47,030
34,148
Northern Central...Gross. 493,150 483,594 5,016,808 4,983,223 Burlington C. B. A No...
2,148
46,273
44,125
Net... 197,926 207,928 1,768,444 2,014,053 Cin. N. 0. A Texas Pac...
4,120
23,454
19,334
Northern Pacific__ Gross. 1,299,906 1,249,358 11,429,887 10,574,328 Alabama A Gt. Southern
290
11,059
10,769
Net..
749,247 717,606 5,756,664 5,255,211 New Orleans A North E.
11,532
9,038
2,494
Ohio A Mississippi ..Gross. 325,654 301.961 3,530,914 3,366,711 Vicksburg A Meridian...
500
Vicksburg
Shrevep’t
A
P.
8,436
7,936
Net... 103,309
85,52) 1,069,643
939.852
744
7,684
8,428
Oregon Imp. Co.......Gross
286,239 235,307 2,735,013 2,653,766 Cleveland' Akron A Col...
244,242
37,867
282,109
Net...
59,780
50,768
695,729
572,167 Grand Trunk of Canada..
46,011
51,809
5,798
Oreg. E’y A Nav. Co.Gross
519,919 629,672 4,942,500 4,610,288 Houston A Texas Cent...
Marquette
Hough.
A
On.
3,180
1,676
4,856
N et... 232,352 342,770 2,210,741 2,111,062
5,507
Memphis A Charleston...
30,971
36,478
Pennsylvania (all lines east
2,854j
19,632
22,486
........
of Pittsh. A Erie). .Gross. 4,347,218 3,971,539 15,950,852 41,568,345 St. L. Alt. AT. H..............
N et... 1,526,721 1,616,285 16,361,300 14,776,068
Total
(56
roads)........
2,647,901 2,260,154
400,284
12,537
Philadelp’a A Erie ..Gross. 338,027 309,407 3,407,310 3,012,825
N et... 123.983 147,137 1,374,06a 1,188,905 Net increase (17T1 p. ot.
387,747
Phila. A Beading....Gross. 3,001,522 2,666,450 27,934,8 75 26,638,014
N et... 1,799,739 1,837,374 12,080,509 11,832,566
P. A B. Coal A Iron .Gross. 1,887,462 1,605,748 14,501,154 14,615,568 f i l o n e t a r g f © 0 m m e r c t a X j g n ^ l t s i x i X e x u s
N et... 687,677 219,047 d l,071,483 def.75,124
tBoine Water’n A Og. Gross. 249,606 166,519 2,456,199 1,585,547
[From our own correspondent.]
N et... 119.916
72,841 1,079.133
569,781
St. Jo. A Gd. Isl’d...Gross.
87.309 1,060,449
95,319
994,708
L ondon , Saturday, January 8, 1887.
N et...
36,289
40,495
468,571
316,743
St.Louis Ark. A Tex.Gross. {208,585 181,912
The opening week of the New Year has not been character
Net...
69,064
{62,327
Shenandoah Valley.Gross.
71,053
686,340
57,765
636,779 ized by the occurrence of any important event either com
N et...
def.42
7,311
29,345 mercial or financial. The aptitude of the South American
77,871
Southern Pacific Co.—
Galv. Har. A S. A.Gross. 211,975 343,935 2,352,793 2,866,367 States and Australasian colonies for borrowing, which was a
Net..
3.730 183.'31
260,444 1,315,160 feature of the past year, promises to be no less prominent in
t Since April in 1886 the Utioa A Blaok River is included, making the year just commenced. Already we have a new Argentine
mileage 655 mUes, against 449 last year.
* Mexican currency.
{ Work of changing gauge in progress.
loan before the public, and tenders are at the same time invi
1886.
1885.
1886.
1835.
January
ted for a small is3ue on the part of the City of Auckland,
New Zealand; but the facilities for such operations which
were freely granted during 1886 do not promise to be so readily
forthcoming during 1887. Although financial stringency is
not apprehended, it is abundantly clear that so far at least as
can be determined from present indications money will be
distinctly higher in value. There is not that amount of capi
tal offering which was available twelve months ago, and as
unquestionably a stronger demand exists, but one result can
follow, and that is the establishment of a higher range of
prices. For all that, however, there is no reason to believe
that the development of bona fide schemes will be checked.
Becent experience has shown that subscriptions to sound
undertakings are far in excess of the amounts required, but
the permanent hardening of money here will necessitate the
offering of better terms than it was thought needful to grant
during the past two or three years. Dearer money will have
one good effect, seeing that it will place a salutary hindrance
upon that class of companies^which is gotten up mainly in the
interests of promoters and ¿venders. If the value of money
could be really enhanced through the expanding demands of
trade, we should certainly have good cause for congratula
tion ; but that has not been the case as yet. With the
increasing tendency to Stock Exchange speculation there is
likely to be oft-recurring sharp, short periods of stringency,
as the fortnightly settlement comes round. That money has
been profitably employed during the past half-year is evident
from the returns so far announced by the leading joint-stock
banks. The excess dividend over last year is frequently
decided, but the gain cannot be attributed to an increase in
the trade demand for money. The average Bank rate for the
year was 3'57 per cent, against 2 92 per cent in 1885. This
improvement is hardly sufficient to account for the heavier
dividends earned, that result being more probably due
to the profitable employment of money in loans to the Stock
Exchange. However, the fact remains that the banks have had
a better half-year than they have enjoyed for some time past.
The following is a list of the dividends so far announced :
,---- Second half o f— .
1886.
1885
Inc. + , or
Per cent
Per cent
dec. —
ptr annum. ;per annum. Per cent.
Alliance........................ ............. . . . .
7
61«
**+
10
10
City............................ ................ .
10
Consolidated...............................
9
1+
121«
12
London Joint Stock...................
!«+•
London & Westminster.............
15
13«
1«+
12
13
National Discount......................
1—
121«
10
Union of London.......................
2 «+
7
Imperial......................................
7
8
Union Discount of London.......
8
Money has been distinctly easier during the week. The
distribution of the dividends has appreciably increased floating
balances, and a3 the demand both for loans and discounts has
at the same time fallen off, quotations have given way. The
charge for day-to-day loans has declined to 2% per cent, and
the discount rate for three months’ bills has been weak at 3%
per cent. The weakness is regarded as merely temporary.
After the repayment of loans to the Bank has been effected
it will not be found that balances will be at all heavy, and
they will at the same time be steadily reduced by the revenue
collections. The feature of the weekly Bank return is the
evidence that the Government has been borrowing in order
to provide for the dividends on consols. In Government secu
rities there is an increase of £4,799,654, and the public deposits
have been swollen by £4,639,597. From this it will be seen
that the Government in some measure anticipated the revenue
collections. The other changes are of no special importance.
Gold is flowing back from the provinces, the gain in bullion
being £487,142, of which only £145,000 came from abroad;
but as note circulation also increased £391,050, the actual gain
in the reserve is only £96,092. The heavy increase in the
liabilities has caused the proportion to fall from 35'38 to 30*89
per cent.
The following return shows the position of the Banir of
England, the Bank rate of discount, the price of consols, &c.
1887.
£
Circulation, excluding 7-day and
other b ills ...................................... 34,827,720
9,002.616
Public deposits..................................
Other deposits................................... 23,945,781
Government securities..................... 17,931,805
Other securities................................. 22,775,089
Reserve o f notes and coin.............. 10,229,511
Coin and bullion................................ 19,807,231
Reserve to liabilities........................ 30*89 p. c.
Bank r a t e ..........................................
5 p. c.
Consols...............................................
lOOSfd.
Clearing-House return..................... 169,583.000
109
THE CHRONICLE
22, 1887.
1886.
1885.
1884.
£
£
£
24,932.045 25,193,300 25,609,700
5.154,547 7,038,920 5,319,931
27,880.163 36,820.332 26,341,466
17,946,615 15,753,665 14,954,835
22,303,321 24,907,056 23,108,428
10,782,766 11,274,468 11.622,681
19.964,811 20,222,768 21,482,381
3 2 « p. c.
3 % p .c. 8 6 « p .c .
4 p .c.
5 p .c.
3 p. c.
99&xd.
99«xd .
101«xd.
119.786.000 119.277.000) 113.938,000
Tenders for £1,695,000 Treasury bills have been reoeived at
the Bank of England. The allotments were: In bills at three
months £1,400,000 and six months £295,000. Tenders for
bills at three months at £99 2s. 6d. and above will receive in
full, and for bills at six months, at £93 6s. 7d., about 93 per
cent ; above in full. The average rate for the three months ’
bill was £3 9s. 6'75d., and for the six months' £3 6s. 5 75d. per
cent.
Another Argentin'e 5 per cent loan for £4,290,100 at 85}^ per
cent is just announced by Messrs. Baring Bros, and Messrs.
J. S. Morgan.
Messrs. Pixley & Abell write as follows on the state of the
bullion market:
Gold—There lias been no important demand for gold, and all arrivals
have been sent to the Bank o ’ England, which has purchased £74,000,
and sold £60,000 for Australia and the Cape. They comprise: From
River Plate, £14,000; from West Indies, £29,000; from Australia,
£12,()C0; from Bombay, £10,000; total, £59,000. The P. & O.
steamer takes £10,000 to Bombay.
Silver—Although the arrivals have been on a large scale, there has
been no difficulty In plaoing the various parcels in the market, and the
prloe has gradually improved to 46 7-16d. The Bank of Bengal rate
has been raised to 6 per cent. The arrivals are £40,000 from New
York and £10,000 from Chili. The P. & O. boat takes £165,000 to
Bombay.
Mexican Dollars—The unsold portion of the arrival by the French
steamer realized 4578d., but the market has since improved, and we
now quote 46d. The arrivals are: From New York, £10,000; from
West Indies, £2,000; from Vera Cruz, £90,000; total, £102,000.
An uneasy feeling has of late been felt amongst Stock Ex
change speculative circles. There has been a good deal of
reckless “ plunging.” Serious losses have resulted, and the
default of clients has severely shaken more than one firm. It
is known that many were assisted over the last settlement,
and although the atmosphere has since become clearer, there
is still a good deal of anxiety. One outside speculator is
known to have lost over £100,000 and to have paid about
£60,000. As, however, he is interested in a well-established
house of business the payment of the balance in full is only a
matter of time. But such satisfactory liquidations are not
likely in many cases, and the house will no doubt lose heavily.
According to the return of the Cleveland Iron Master’s
Association the make of pig iron during December was 193,293
tons, being an increase of 6,600 tons over the previous month.
In spite of this increase the stocks have been reduced to 652,445
tons, from 667,772 tons—a decrease of 15,327 tons. The total
shipments during the month were 7,586 tons less than in No
vember ; namely, 63,777, against 71,863 tons, and from thia
it may be inferred that the home demand has improved. The
number of furnaces making Cleveland iron at the end of the
year was 49, being 4 less than at the close of November. The
present stocks of pig iron are about 135,000 tons more than at
the close of 1885.
The Board of Trade returns just issued for December are
not so favorable as those published for the preceding months
but so far as our trade with America is concerned there is no
cause for complaint. The imports during the month have
increased £57,695, whilst for the year they show a deficiency
of £21,023,277; but nearly £16,000,000 of this is on account
of reduced payments for foodstuffs. The exports for the
month exhibit a falling off of £150,918. On the whole twelve
months the deficiency is only £680,505, and when allowance
is made for the generally lower range of values, it will be
admitted that the volume of business transacted during 1887
must have been larger than in 1886.
The following are the totals of the imports and exports dur
ing December and the 12 months :
1884..
1885..
1888..
/—Imports Foreign—>/—Frports British <5—, ■Re-exports Foreign—>
A Colonial Produce. Irish Produce, <&c.
<£•Colonial Mdse, <£c.
December.
12 Mo*.
December.
12 Mos.
December.
12 Mos.
&
&
&
&
£
£
.. 33.073,970 389.774.549
.. 30,953,588 870,404,314
.. 31,0J 1.283 349,381,087
17,840,103
17,204,428
17,053,510
233,025,242 62,942.341
5,159.238
213,044,500 58,359,194
5,172,782
212,363,99556,107,671
4,596,559
The following shows the imports from the United States dur
ing December, so far as enumerated in the Board of Trade
returns :
Quantity.—
,----------- Yalue.1885.
1886.
1885.
1886.
Oxen and balls.............No.
8,345
5,263 £157,702 £103,285
Cow s.............................No.
11
9
170
160
470
Sheep and lambs.......... No.
264
940
516
Wheat—Atlan. ports.cwts.
240,640 1,452,055
98,410
572,264
Pacific ports......... cwts. 493,043
638.079
199,822
250,041
Flour......................... cwts.
786,603
995,299
452,984
535,526
Baoon........................ cwts.
293,965
289,040
483,528
514,799
Beef—Salted..............cwts.
24,628
15,477
42,627
25,827
Fresh...................... cwts.
74,569
50,332
177,010
118,245
Hams.......................... cwts.
67,737
81,097
156,761
193,163
Meat, unenumerat’d.cwts.
83
368
234
832
Preserved.............cw ts.
24,243
36,285
61,981
73,819
Pork—Salted........... cwts.
19,249
25,731
25,694
38,058
Butter....................... ewts.
5,604
2,667
20,074
10,912
Cheese..................... cwts.
36,253
34,538
70,838
86,149
Fish ...........................cwts.
25,668
38,506
56,190
100.752
Lard........................... cwts.
72,825
85,608
121,043
143.676
Sugar, refined..........cwts.
145,410
5,920
135,397
5,128
Copper o r e ................tons.
205
2,460
Regulus, &c........... tons.
2,254
108
59,919
2,590
Unwrought and partly
wrought............... tons.
26
110
1,154
4,710
Cotton, raw.............. cwts. 1,374,207 1,850,534 3,829,539 4,692,503
Tallow..................c w t s .
.........
19,180
27,024
Wood& timber—Hewn.lds.
6,111
2,914
22,986
15,630
Sawn and split__ loads.
11,087
6,103
33,073
19,495
C locks..........................No.
35,998
22,912
9,273
6,790
Leather....
.......lbs. 2,295,551 2,577,097
122,582
125,374
[Voift XLIV,
THE CHRONICLE.
110
Below are the exports of British and Irish produce to the
United States, as far as can be gathered from these official
statistics, during December:
—OlldYtUt]/ 1■"■* * -------- Value
1886.
1885.
1885.
1886.
£6.044
£ 2,100
H orses......................... No.
28
109
19.533
15,238
Beer and ale............. bbls.
3.992
4,380
18,901
21,539
Salt. . . . . . . . . ............. tons
20,026
17.157
5,807
4,758
Spirits . . . . . . . ......g a lls.
15,301
17,250
16.698
61,441
W ool.!'........................lbs. 1.760,000
500,900
103,449
81,334
Cotton piece goods...yds. 3,660,300 4,354,400
9,824
12,032
j ute—Yarn.................. lbs. 1,905,600 1,126,400
5 9 ,1 9 7
101,303
Piece goods....yds. 8,181.700 14.233.300
2,842
1,993
Linen—Yarn?.............. lbs
71.900
101,600
149,022
131,282
Piece goods..yds. 5,655,900 6,640,900
10.942
6,390
58,345
83,374
Silk broadstuffs..........yds.
2,516
2,216
Other articles of silk only
................................
Articles of B ilk and other
51.698
23,172
109,800
80,989
Woolen fab fics" I" " " y d s .
397.700
733i800
184,4 43
218,899
Worsted fabrics..........yds. 3,563,000 3,139.200
8,120
7.715
76,000
52,100
Carpets........................yds.
27,468
26,018
Hardware and cutlery. . . .
38,357
33,703
12,307
13,370
Iron and steel—Pig...tons
894
1,685
108
205
Bar, angle, &o..tons
32,432
1,798
8,584
308
Railroad.............tons
9,949
7,514
1,386
996
Hoops, sheet,&o. tons
3,993
3,278
347
179
Cast and wro’t-.tons
30,615
10,379
11,922
3.887
Old. for reinnf tr.tons
185,200
233,224
21,455
16,551
Tin—Plates.................tons
109,513
29,566
22,782
2,078
Steel, unwrought.......tons
262
11
20
l
Lead............................ tons
1,514
2,272
281
477
Tin. unwrought.......cwfcs.
8,763
1,172
Steam-engines...................
39,441
30,054
Other kinds of machinery.
7,732
6,769
Apparel and slops............
13,804
Haberdashery & millinery
35,482
81,793
309,435
254,703
Alkali.........................owts.
3,230
3,293
27,525
20,928
Bags and sacks..........doz.
13,182
4,504
128,300
40,500
Cement..................... owts.
49,963
.
50,856
Earthenware <fe porcelain.
Paper—Writing, printing,
1,681
2,542
480
736
&c........... owts.
1,655
2,397
622
713
All other klnds.cwts.
50,543
48,572
Skins and furs...................
5,824
7,839
Station ory.otli’r than pap’r
precious m etals have been as fo llo w s ;
r“
To and from all Countries.
1884.
1885.
1880.
<gammierctel and ptiscjellatic0us %tvos
IMPORTS AND EXPORTS FOR THE W E E K .— T h e im p o r t s Of la st
w e e k , c o m p a r e d w it h t h o s e o f t h e p r e c e d in g w e e k , s h o w
__increase in dry goods and a decrease in general merchandise.
The total imports were $9,076,518, against $8,598,054 the
preceding week and $9,985,059 two weeks previous. The ex
ports for the week ended Jan. 18 amounted to $0,261,634,against
TJ,982,469 last week and $7,141,187 two weeks previous. The
following are the imports at New York for the week ending
(for dry goods) Jan. 13, and for the week ending (for general
merchandise) Jan. 14; also, totals since the beginning of the
first week in Januarv:
FOREIGN IMPORTS AT NEW YORK.
1884.
$2,591,920
5,904,991
$2,267.455
3,967,458
$2,930,695
6,320,331
$3.218.942
5,857,576
Total...........
Since Jan. 1.
Dry Goods........
Gen’l iner’dise..
$8,496,911
$6,234,913
$9,251,076
$9,076,518
$4,936,345
10,072,645
*4,620,019
11,968,055
$5.009,161
12,005,408
To and from United States.
1884.
1885.
£
£
£
£
5,350
028,121
501,577 1,852.252
Im ports In Dec ..
Do 12 months ... 10,720.858 18,874,11» 13,392,25« 5,072,091
107
522,090 2,181,034 2,103,811
Exports In Dec.. .
Do 12 m onths.... 12,012,830 11,»80,818 13,733,700 2,183.803
1887.
1886.
1885.
For Week.
Dry Goods........
Gen’lm er’dise..
£
0,543
900,044 3.021.542
10,020 1.002,735
299,332 2,995,005
$17,793,862 $15,008,990 $16,538,074! $17,674,572
Total 2 weeks..
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 or
specie) from the port of New York to foreign ports for the
week ending Jan. 18 and from January 1 to date:
EXPORTS FROM NEW YORK FOR THB WBBK.
Total 2 weeks..
$7,669,474
8,031,919
$5,955,765
6,474,595
1887.
1886.
1885.
1884.
For the w eek...
Prev. reported..
1880.
£
2,850
$5.406.718
12,387,144
$6,261,634
5,982,469
$6,395,749
5,679.8 J9
$12,430,360 $15,704,393 $12,066,588 $12,244,103
The following table shows the exports and imports of specie
at the port of New York for the week ending Jan. 15, and
since Jan. 1, 1887, and for the corresponding periods in
1886 and 1885:
SILV ER.
109,244
220.108
720.575
359,258
813,529
809,840
Do 12 m onths.... 9,001,4951 9,377.001 7,471.039, 2,029,310 2.750,508 1,097,184
15
470,704
50
711,23»
045,803
Exports in D ec.. .
2.805
0,011
8,332
Do 12 months.. .. 9,980.3831 9,852,-87 7,223,0991
EXPORTS AND IMPORTS OF SPBOIB AT NEW YORK.
imports In Deo....
The firmness in the grain trade has not relaxed. The wheat
market cannot be described as animated, but it is certainly
strong, and the week’s business has been conducted on a basis
of an advance of Is. to 2s. per qr. The Imperial weekly aver
age has already risen to 35s., being 4s. 9d. per qr. more than
for the corresponding week last year, whilst the season’s aver
age is 81s. 9d., against 80s. lOd. per qr.—a gain of nearly Is
per qr. This growing steadiness, in the face of increasin
supplies on passage and larger American stocks available, is
feature worthy of notice. It shows clearly that the trade has
attained a muoh sounder position, and that confidence in the
future is improving. Wheat growers have certainly good
cause to congratulate themselves this season when they re
call the condition last season. Then there was a steady and
almost uninterrupted depreciation in values. Now, on the
other hand, after some opening weakness the trade has been
.gradually hardening, and for the last six or eight weeks the
recovery has been sure and steady, without a reactionary move
ment, whilst the fact that the market remain firm at the
improvement speaks well for a continuance of the hardening
tendency. Consumption, it may be presumed, is just now
quite of an average character, and there is probably rather
more speculative business than has baen the case recently
The stronger inquiry for freights also in connection with the
tiade improvement now in progress has to be taken into con
sideration. Regarded as a whole, the prospect just now seems
to favor the belief that the market in the immediate future
will continue to harden, particularly if the weather remains
as severely seasonable as at present.
_____
« n g iim i
(fin a n c ia l
it t a r k « i » -i * e r C a b le .
The daily closing quotations for securities, &c., at London
are reported by cable as follows for the week ending Jan. 21:
London.
Sat.
Mon.
Silver, per o x . . . . . ___d.
Consols for money.........
Consols for aoooant......
Fr’ch rentes (in Paris) fr
U. B. 4*48 of 1891..........
U. 8. 4 b of 1907.............
Canadian Pacido..........
Chic. Mil. & St. P a u l....
Erie,common s to o k ....
Illinois C e n tr a l.........
Pennsylvania..............
Philadelphia & Reading
New York Central____
471-ifi
10013lfl
10035,6
81-723«
112%
1306g
69%
915a
343«
1371«
58
193g
1151«
47316
10013lß
100*8
81-35
1123«
1303«
6930
93
35
1371«
58is
201*
11718
Tues.
Wed.
47li6 47lie
1001316 100*8
1001516 101
81-15 81-523«
1125s 112%
1305ft 130%
693a
92*8
923«
345a
343«
137»« 1373«
58
58
203a
203ft
1165ft 11638
Thurs.
Fri.
4 7 I16
4 7 I16
1001318
100*8
Öi *1V
112*8
130*8
685Ì
9238
101*16
81-40
112*8
130*8
693ft
92%
34%
. .. .
3434
57*8
583ft
2138
21^4
1161« |1163ft
Imports.
Exports.
Gold.
Week.
$3,288
$3,288
¿reat B ritain........
F r a n ce ..... . . . . . . . .
Germany. . . . . . . . ..
Vest In dies. . . . . . . .
Mexico.................
Sonth Am erica.. . . .
All other countries.
24,055
24,055
278,656
24,917
278,656
39,458
Total 1887.......
Total 1 8 8 6 .....
Total 1885.......
$330,946
1,084,994
289,296
$345,457
1,086,294
441,521
$
14,000
$153,500
31.600
2,200
Silver.
irea t Britain. . . . . .
Franoe.. . . . . . . . . . . .
Germany___. . . . ..
Vest In dies. . . . . . . .
vlexioo................ .
South America.......
All other countries.
Total 1887.......
Total 1 8 8 6 .....
Total 1885------
Week.
Since Jan. 1-
ISince Jan.1.
$341,000 $1,578,tO?
760,989
259,580
116,700
56,168
6,050
949
10,738
4,100
$467.910 $2,666,531
563,742
25,891
486,564
219,897
5.6C0
3,000
5,600
7,000
i ‘,727
27,859
206
18,557
$22,600
321,801
337,795
$199,9)0
828,078
721,957
$7,587
10,283
31,356
$46,622
18,502
57,355
5,860
Of the above imports for the week in 1887, $3,04«) were
American gold coin and $560 American silver com.
Of
the exports during the same time $53,503 _were American
gold coin and $3,000 were American silver coin.
F o r e ig n T r a d e
of
N e w Y o r k —M o n t h l y S t atem en t .— I n
addition to the foregoing tables, made up from weekly: returns,
we give the following figures for the full months, also issued
by our New York Custom House. The first statement covers
the total imports of merchandise.
IMPORTS INTO NEW YORK.
Month.
Dry
Goods.
$
9,410,104
12,070,425
12,810,725
8.506,330
7,689,337
6,881,571
9,330,756
14,248,301
10,024,223
8,016,057
8,115,561
D ecem ber.. 8,286,755
1880.
1885.
General
Merchan
dise.
General
Merchan
dise.
$
23,389,735
26,621,310
26,364,461
28,013,889
24,775,653
29,228,019
27.868,768
24,227,584
20,273,503
28,132,140
28,955,621
29,515,534
lotal.
$
32,799,899
38,091,741
39.181,180
37,179.719
32,464,990
36,110,190
87,199,521
33,475,885
30,297,816!
36,148,197'
37,071,182
37,802,289
Dry
Goods.
$
10,808,800
10,214,498
10,385,689
6,262,984
5,245,225
6,271,511
8,721.583
10.291,609
11,170,773
7,865,269
7,360,840
5,943,843
$
17,648,208
18.030,822
25,261,039
25,990,497
22,856,630
24.703,187
24,619,018
24,69S,530
21,759,629
28,599,050
24,077,078
29,173,973
Total.
%
28,457,008
28,845,320
35,646,728
32,259,481
28,101,855
30,974,098
33,370,601
31,990,145
32,930.402
34,404,319
32,037,924
35,117,816
387,196,297
T otal.... 115,450,2051323,»60,413 439,422,618 100,542,030 280,653,667
CUSTOMS RECEIPTS.
EXPORTS FROM NEW YORK.
Month.
1886.
1888.
1885.
1885.
*
$
$
Jan aary............. 23,723,616 32,718,154 January............ 10,925,448
February..........
22,314,321 23,715,450 February............ 11,799.732
M arch................. 23,201,084 26,137,314 M a rch ...,........... 12,500,233
A pril................... 24,596,455 26,967,843 April................... 10,434,186
9,021,800
M a y .................... 26,268,431 28,341,986 May.....................
J u n e ................... 29,395,320 28,535,936 Ju n e................... 11,879,019
July.................... 29,734,941 26,892,735 J u ly............... .. 12,605,425
A ugust............... 25,857,301 27,116,832 ¡A ugust.............. 14,826,578
Septem ber........ 29,547.577 28,149,209 1S eptem ber....... 12,936,564
O cto b er............. 26,065,729 28,161,182 O ctob er............. 11,561,889
9,781,653
Novem ber.......... 28.886,274 24,962,901 N ovem ber.........
December ........ 28,531,192 29,881,945 December.......... 10,534,457
T otal............. 318,125,241 331,081,4871
*
10,298,891
10,456,966
11,277,042
9,977,753
9,520,647
9,637,384
11,717,836
13,242,451
12,154,709
10,755,162
8,629,119
9,929,622
T otal............ 138,806,484 127,59S,582
United States Sub-Treasury.—The following table show
the receipts and payments at the Sub-Treasury in this city, as
well as the balances in the same, for each day of the past week :
Date.
Payments.
Receipts.
Balances.
Coin Oert’s.
Coin.
Jan. 15
17
H 18
4$ 19
it 20
u 21
$
1.070,011
1,130,702
1,509,966
1,294,939
886,251
989,899
T o ta l..
6,882,368 . 8.256,256
$
1,192,164
1,560,711
918,238
1,498,412
1,106,034
1,980,697
!aiiMu0 ami ffiuaiucial»
A t New York.
Total Merchandise.
Month.
111
THE CHRONICLE,
J a n u a r y 22, 18S7.]
130.338.311
130.407,776
130,482,‘¿94
130.618.332
130,694.381
130,793,814
Currency.
$
$
19,018,400 18,322,776
18,617,615 18.224,088
19,019,926 18,338,987
18,616,375 18,403,027
18,364,016 18,359,552
17,187,418 18.445,891
F I R S T M O R T G A G E 6 P E R CEN T 3 0 -Y E A R B O N O »
OP TIIB
KALAMAZOO
STREET
K a la m a z o o ,
RAILWAY
CO.,
M ich igan .
Interest May 1 and Nov. 1, at the Central Trust Co.,
NEW
YORK.
The Company has been in operation two years, and by its annual
report published Jan. 12, 1886, shows net earnings of $11,953-30 for
the previous eighteen months, leaving a surplus of $2,953-30 over and.
above all charges and interest on the bonds.
The Company, through its Secretary, reports May 12,1886, that the
ea m iD gs for January, February, March and April are 68 per cent mom
than the corresponding months last year, which is sufiloient to pay
interest on the bonds and a dividend on the stock.
We know of no better investment in the market.
PRICE PAR AND INTEREST.
G R IS W O L D & G IL L E T T
NO. 3 WALL STREET. NEW YORK.
W E O F F E R A T 1 0 6 A N D IN T E R E S T T I I E B A L A N C E
UNSOLD OF T H E F IR S T M O R T G A G E
6 P E R C EN T GOLD BONDS
—The Chrome Steel Works of Brooklyn, whose card is
OP THE
published in the Chronicle, have a neat little pamphlet
which they circulate, entitled the “ Jail-breakers’ Catechism.” F O R T S M I T H & T A N B U R E N B R I D G E C O .
Having sent some of these to South America an item appeared
in. Ml Nacio, a newspaper of Lima, ‘ which is considered THESE BONDS ARE GUARANTEED PRINCIPAL AND INTEREST
by the proprietors of the Chrome Steel Works as a good joke.
BY TUB
The following is a translation :
ST. LOUIS & SAN FRANCISCO RAILROAD CO.,
“ Advertisements."—It is proven that the Yankees show wit in the
recommending of their Inventions and of the goods they offer for sale.
We have before us a pamphlet of Mr. Chrome’s Steel Works, who offers
the best steel for all kinds of work, and as a proof he asserts that he
and a friend of his have escaped four times from the penitentiaries of
as many different cities in that country, thanks to his profound ac quirements and to the steel he employed to out the safety-bars of the prisons
mentioned. Ia order to prove finally that he has no rival, he states
that he is at present in the penitentiary in Brooklyn, and that his
escape is impossible beoause the doors and safety-bars of the cells are
of steel made by himself.
W H O S E 1ST P R E F E R R E D STO CK IS SE LLIN G A T 11&
G R IS W O L D & G IL L E T T ,
NO. 3 WALL STREET, NEW YORK.
GRAPE
CR EEK
COAL
COMPANY,
—The (annual statement of the Liverpool & London
O f D a n v ille , 111.
Globe Insurance Company, published elsewhere, shows the
total assets in this country to be now $6,639,780, an increase F IR S T M O R T G A G E 6 P E R C E N T S IN K IN G F O N D
of over $700,000 above last year’s figures. The surplus has
BONDS, D U E 1 9 1 6 .
attained the large amount of $3j077,588 25, an increase of
IN T E R E S T P A Y A B L E A P R I L AN D O C T O B E R ,
$500,000 over last year. Of the assets $1,380,000 are invested
in real estate, $1,874,493 51 in loans on bond and mortgages,
AT TH E FARM ERS
LOAN AN D T R U S T
and $1,929,100 in U. S. Government bonds. The statement
CO., N. Y . , T R U S T E E S .
in every item offers an additional proof of the progressive and
conservative policy of this company in the thirty-ninth year
These bonds are a first and only lien upon one of the most valuable
of its business in this country,
and well-established coal properties in the State of Illinois, consisting
Auction Sales.—The following were sold at auction lately of over 2 ,0 0 0 acres of coal land, 1 2 2 houses, a well-stocked store»
by Messrs. Adrian H. Muller & Son :
ample farm buildings, and all the machinery, plant and appliances—on.
Shares.
Shares.
which there is no indebtedness whatever except this issue of bonds.
100 Knickerbocker Ins. C o..104
50 Market Natonal Bank
163
200 Man. Co. Bank..
39 Guardian Fire Insurance
Of this issue $ 1 2 5 ,0 0 0 are set aside and held in trust by the Farmers
Co.......................
100Nat. Park Bank--. 170^ -lT t
200 Brooklyn City RR. C o... 181
60 1st National Bans of
Loan & Trust Company, of New York, and cannot be used for any
100 Tradesmen’s Nat. Bank.. 10641
Brooklyn................330-320
other purpose than for buying more coal lands, building more house*
5 Impor ters’ and Traders’
125 Mer. Nat. Bank...13844-138
National Bank.............325
100 4th National Bank.. 14c-142%
and making additional permanent improvements to the property
10 Mineral Rang e RR. Co.. 140
150 6th Nat. Bank..235-223-235
101 N. Y. Mutual Gas Co. ...1 02
208 Leather Man.Nat.Bk203-204
$ 3 0 0 ,0 0 0 of these bonds have already been sold, and are held for
5 St. Nicholas Bank......... -.HO^
40 Mechanics’ and Traders’
investment by some of the mo3t conservative investors in this city
National Bank............... 1514a 124 Firemen's Ins. Co. 105^-106
200 Mechanics’ Nat. Bank___ 17t»i8 10 Real Est. Ex. & Auction
State, and throughout New England, including many of the leading
Room (Limited).......... 10241
400 Greenwich Bank..............1144a
12 Central New Jersey Land’
150 U. 8. Trust Company___530
Savings Banks, Bank Presidents and Trustees.
Improvement Co........... 1541
137 Natioual Bank of the Re
A sinking fund is provided in the mortgage for the payment to th*
130 Eagle Tube Co...............$3 lot
public___ 133Sa-l 34 ia-135
200 Nat. Citizens’ Bk. .13212-134
Farmers’ Loan & Trust Company of $ 2 0 ,0 0 0 per annum, beginning
50 OrientaJ Bank...................181
Bonds.
50 National City B a n k ___ 311
$100 N. Y. & Texas Land Co.
April 1,1891, for the redemption at par of that amount of bonds each
100 Long Island B an k..........116
Scrip........ ...................... 42
year, until the entire issue is redeemed and canceled.
50 Union Trust Co................ 421
$10,000 Mobile City Comp.
2 Mexican Telegraph Co.. .1 15ia
B on d s..........$500 each 7 2 ^
T h e r e n ta l f r o m th e h o u s e s a n d th e p ro fits f r o m th e s to r e ,
25 Union Ferry Co............... 147
$201-80 Mobile City Comp.
Scrip....... ....................
68 scr e e n in g s a n d th e fa r m s w i l l m o r e th a n p a y th e In te re st
8 Pennsylvania Coal Co__ 281
$302 Mutual Fire Ins. Co.
5 Broadway and 7th Ave.
o n th e e n tire issu e o f b o n d s w i t h o u t to u c h in g th e p r o fit*
Scrip of 1886............... 76
Railroad Co .................. 227
$5,000 N. Y. County 7s Sol
11 Stei ling Fire Ins. Co. 73-75
f r o m t h sales o t„c o a l.
diers’ Bounty Fund No.
10 North River Construc
tion, Ashbel Green, re
3, due 1896........ 1324i& int
F o r th e t w o ye ars a n d 'e le v e n m o n t h s 'e n d i n g A p r il 1 ,
ceiver, Certificate.................. 5%$21,000 Minnesota 4^8, due
43 Home lue. Co ..................150
1911................................ 10143 1 8 8 6 , th e c o m p a n y e a rn ed $ 1 6 9 ,4 6 2 a n d 5 1 -1 0 0 , o r n e a r ly
6 p e r ce n t o n $ 1 ,0 0 0 ,0 0 0 , a n d w i t h th e a d d itio n a l p la n t t o
gatikiHQ ami ifitiaticial.
he p u t u p o n th is p ro p e rty it s h o u ld e a r n 6 p e r ce n t o n
$ 2 ,0 0 0 ,0 0 0 , w h il e th e in te r e st c h a rg e s are o n ly $ 3 0 ,0 0 0
C IT Y OF SCRANTON
4
P E R .. GEN T
BONDS.
TERMS ON APPLICATION TO
H A R V E li
FISK
&
S O N S ’,
BANKERS,
28
N a s s a u St r e e t , N e w Y o r k ,
y e a r ly .
We offer a limited amount of these bonds to investors that are seeking
safe securities for investment, and we look upon them, at the price
offered, as the most profitable investment in the market, paying the
investor about 6 1 -2 per cent interest.
Price, 95 and accrued interest.
GRISWOLD
& GILLETT,
N o, 3 W a ll Street, N ew Y o r k .
THE CHRONICLE.
112
January 21.
gpue fjlaufrierg7 © a le t t e .
D I V I D E N D S .
The following dividends have recently been announced:
Name of Company.
R a il r o a d « .
Per
Cent.
Rome Watertown <fc Ogdensburg.
St. Louis &San Fr’isco, 1st pref!.
3%
2%
2%
3%
German American.......................
3
mint,on F ire
5
3
B an k«.
In su ra n ce ,
M is c e lla n e o u s .
6
10
When
Payable.
Books Closed,
(Days inclusive.)
(VO L.
Sixty Days.
XL1V.
Demand.
4 87%”
4831*
Prlmebankers’aterllng bills on London...
Prime commercial......... . . . . . . . . . . . . . . . . . . . 4 82 ®4 82*4
Documentaryc o m m e r c i a l.................... 4 81%®4 81%
Paris (francs)... . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 24%®5 23% 5 21%®5 21%
39%®391516 401ib®40%
Amsterdam (g u ild e r s )......... . . . - ............
94%®94%
95%®95%
Frankfort or Bremen (reichmarks)..........
Coins.—The following are quotations in gold for various coins:
Sovereigns............$4 83 ®$4 87 Silver %s and %s. — 99%®N a p oleon s........ 3 84 ® 3 88 Flve f r a n c s . . . . . . — 93 ® — 95
X X Helcbmarks. 4 74 ® 4 76 Mexican dollars.. — 80%® — 81
Do uncommero’l. — 79%® — 80%
F eb !" 15 Feb. 2 to Feb. 15 X Guilders........... 3 96 ® 4 00
Feb. 10 Jan. 23 to Feb. 10 8pan’hDoubloons.l5 55 ®15 70 Peruvian s o ls ..... — 73%® — 74%
English
s ilv e r. . . . 4 79 ® 4 84
Mex.Doubloons.. 15 55 ®15 65
Feb.
1 Jan. 25 to Feb. 1 Fine gold bars... .
80 ®
83
par ® % prem U. 8. trade dollars
U.
8.
silver
dollars— 99%® 100
Fine silver bars .. —102%® 103
On dem.
Dimes & % dimes. — 99%® par.
On dem.
United States Bonds.—Government bonds have not been
J an. 20
On dem.
very active, and there has been no special feature to the market
March 1 Feb. 11 to March 9
during the past week. Prices have been about steady, and are
not much changed, except for the 6s, the bids for which are
higher than a week ago. $5,000 of the currency 6s of 1898
The Money Market and Financial Situation.—While sold at 132^.
the general outlook remains good, there is yet no particular
The closing prices at the N. Y. Board have been as follows:
animation in commercial or financial circles, and the markets
Interest Jan. Jan. Jan. Jan. Jan. Jan.
21.
20.
19
17. 1 18.
Periods. 15.
have rather a halting appearance. There is little doubt that
the sitting of Congress has something to do with this, and as 4%s, 1891....... ...reg. Q.-Mar. ‘ 110 *110 ¡*110% *110% 110% -110%
4%s; 1 8 9 1 ....... .coup. Q.-Mar. *110 *110 1 110% *110% *110% 110%
the short session this year should terminate in March, the 4s,
<3.-Jan. 127% 127%|*127% *127% *127% 127%
1907..........
<5.-Jan. 127% 127% *127% 127% 127 % *127%
Country will have but a little time to wait before the result of 4s, 1 9 0 7 .......... .coup. Q.-Feb.
*100 -100 :*100 -100 *100 *100
3s, option U. S. ...reg.
Congressional legislation will be known and its effect upon 6s, oür’cy, ’ 95. ...reg. J. & J. *125 *125 ¡*125 *125 *125% *125%
6s! cur’cy! '96. ...reg. J. & J. *127% *127% *127% *127% *128% *127%
business can be fairly estimated.
6s, cur’cy, ’97. ...reg. J. & J ♦130% *130% *130% *130% *130% *130%
6s! cur’cy! ’ 98. ...rear. J. & J. *132% 132%,*133 *133% *133% *132%
At the Stock Exchange the activity is limited almost entirely 6s!
our’ey! ’99. ...reg.'J. & J. *135% *135%i*135% *136 *136% *136
to specialties, in which the parties with inside information
* This is the price bid at the morning board: no sale was made.
have control of the market. It is impossible for the average
State and Railroad Bonds.—State bonds have been pretty
stock operator to deal with safety in such specialties as Rich, active, the dealings covering quite a large number of issues.
mond Terminal, East Tennessee, Ne w York & New England, Virginia deferred bonds were again somewhat prominent,
being active and higher. They close to-day at 15-J-; Louisiana
<&c.f if important negotiatio ns are pending, unless he has reli consol. 4s at 80f; Tennessee settlement 3s at 78f.
able information of what is going on from some person behind
Railroad bonds have had a fairly good business, and the
market has been pretty strong as a rule, though showing some
the scenes.
The several railroad reorganizations so successfully completed irregularity. There has been no decline of moment, however,
in 1886 will pave the way for others not yet finished, and with and though the changes, as a rule, are not very important, they
each of these corporations fairly reorganized, and its new secu are generally in the direction of a higher range. Nickel Plate
rities dealt in at the Stock Exchange, our market has one bonds, especially the 2ds, have been quite conspicuously strong
obstacle removed from the path of healthy progress and more on the common reports of a settlement with Lake Shore and
the reorganization of the company. Besides these there has
legitimate speculative transactions.
The open market rates for call loans during the week on been no special activity, though some of the Wabash and Texas
stock and bond collaterals have ranged from 2 to 6 per cent, & Pacific bonds have been quite strong and higher, and Hock
the usual rate to stock brokers being 4@5 per cent; to-day the ing Valley bonds declined on Thursday in consequence of an
rates were 8@5 per cent. Prime commercial paper is quoted unauthorized rumor of an over-issue of bonds.
at 5@6 per cent.
Railroad and Miscellaneous Stocks.—The market has
The Bank of England weekly statement on Thursday showed been generally firm during the past week, with conspicuous
a gain in specie of £440,000, and the percentage of reserve to strength in some stocks, and in the early part of the week some
liabilities was 41 *73, against 88 last week; the discount rate activity was noticeable. Taken as a whole, however, the mar
remains unchanged at 5 per cent. The Bank of France lost ket has not been very active, the dealings being largely con
2,400,000 francs in gold and gained 800,000 francs in silver. fined to a few specialties, the fluctuations in which
The New York Clearing House banks, in their statement of have given the tone to speculation. In fact, except for the
January 15, showed an increase in surplus reserve of $3,825,125, rise in these stocks there would be little change in
the total surplus being $18,611,800, against $14,786,675 the prices, as the balance of the market has been dull and fea
previous week.
tureless, and there have been few influences of general signifi
Tne following table shows the changes from the previous cance. The agitation about the Inter-State Commerce bill
week and a comparison with the two preceding years in the seems to have subsided, and its passage bv the Senate last
averages of the New York Clearing House banks:
Friday had little effect on prices. The strike among the coal
handlers in New Jersey does not appear to influence prices
Differences fr ’m
1887.
1886.
1885.
greatly, though the rumors circulated at times of its termina
Jan. 15.
Previous Week. Jan. 16.
Jan. 17.
tion have been used to bull the coal stocks.
Leans and dls. 5*348,067,700 Deo. $411,600 $339,345,900 $295,337,800
The movement in the coal stocks has been one important
Specie............
88,088,000 Inc. 2,578,800
97,072,200 98.485.600
(Sroulation...
7,872,200 Deo.
24,600
9,804,000 11.311.600 feature of the week’s speculation, they having been pushed
Net deposits.. 374,187.600 Ino. 4,048,700 389.902.600 353,726.100
24,070,700 Tno. 2,258,500 33,419,400 41,094.700 rapidly up by the bulls, who have freely bought Jersey Central,
Legal tenders.
Lackawanna and Reading. Various rumors have been circu
Legal reserve $93,546,900 Ino .$1,012,175 $97,475,650 $88,431,525
Reserve held. 112,158,700 Ino. 4,837,300 130.491.600 139,580,300 lated in connection with this movement, though nothing
definite has been developed to account for the rapid rise. In
$18,611,800 Ino. $3,825,123 $33,015,950 $51,148,775
the case of Jersey Central, which on Thursday lost a great part
Exchange.—Sterling exchange has generally been quite dull of the improvement, it is rumored that the buying is for con
during the past week, though there has been some demand trol by strong parties.
consequent upon foreign transactions in our stocks. This,
Richmond Terminal has again been very active and on Sat
together with the fact that there has been no large supply of urday, the 15th, was advanced very sharply, touching 53 on
commercial bills, has kept up rates pretty well, the posted rates Monday morning, from which point it declined almost as
being advanced to 4 88£ and 4 87£. A small amount of francs sharply, and has since been rather irregular. The terms of the
arrived from France early in the week, and this is believed to be deal yith East Tennessee were announced early in the week,
the last amount likely to arrive for the present.
and the announcement was followed by weakness in Terminal
To-day the rates on actual business were as follows, viz.: and East Tennessee stocks, though this was partly the effect of
Bankers’ 60 days’ sterling, 4 82f@4 83; demand, 4 86f@4 87. a natural reaction, and partly due to the fait that a large
Cables, 4 87^@4 87f.
Commercial bills were 4 81£@4 82; increase in Terminal stock is to be made to take up the remain
Continental bills were: Francs, 5 23f@5 24f and 5 214@5 21-J; ing Richmond <&TDanville stock.
reichmarks, 94f@94f and 95^@95£; guilders, 39|@40 and 4(U
Another report of the week was the Nickel Plate settlement
©40|.
with Lake Shore, whereby the latter company agrees to guar
The following were the rates of domestic exchange on antee a new issue of 4 per cent bonds to take up the old issues
New York at the under-mentioned cities to-day: Savannah, of Nickel Plate bonds, and the present Nickel Plate stocks are
buying par, selling
premium; Charleston buying par@ to be assessed; the latter declined after this announcement.
1-16 premium; selling
premium; New Orleans, commer New England developed much strength in the latter part of
cial, 50@75c. discount, bank, par; St. Louis, 25@50c. prem the week, though there was no known cause for the advance.
ium ; Chicago, 25c. discount @ par.
Hocking Valley declined sharply on Thursday on a rumor,
The rates of leading bankers are as follows :
afterwards denied, of an over-issue of bonds.
Feb. 15 Feb. 2 to Feb. 15
2
Pullman’s Palace Car (quar.).......
W A L L STREET, F R ID A Y , January » 1 , 1887—5 P. M.
THE CHRONICLE
J a n u a r y 22, 18S7.J
113
PRICES OF STOCKS AT N. T. STOCK EXCHANGE FOR WEEK ENDING JA N . 21, AND SINCE JAN. 1, 1887,
HIGHEST AND LOWEST PRICES.
STOCKS.
Saturday,
Jan. 15.
Monday,
Jan. 17.
Tuesday,
Jan. 18.
Wednesday, Thursday,
Jan. 19.
Jan. 20.
Friday,
Jan. 2Jrf
Sales
of the
Week,
Shares.
Range since Jan. 1,1887.
Lowest.
Highest.
A c t iv e R R , S t o c k s .
1238 12 12
1214 1238 12
12
12
12
12
Atlantic & Pacific...................
12
12
11% Jan.
2,71
12% Jan. 3
*67% 68
67% 68
67% 67% *67
68
68
Canadian Pacific.....................
68
66% 67%
2,270 66 J an.
6838 Jan. 13
60% 61% 60% 61
60% 607s 59% 60% 59
Canada Southern.................... X6OI3 ;
60% 12,560 59 Jan. 21 63% Jan. 3
62% 64% 64
61is 62i( 61% 63
Central of New Jersey...........
67 % 64% 67% 64% 67% 165,187 55% Jan. 3 6778 Jan. 19
41% 41% 41% 41% 40% 41% 40% 40% 38% 40% ’3,07£ 38% Jan. 21 43% Jan. 3
4
Central Paciflo......................... 42
*9
9ia *8% 9% *8% 9% *9
9%
*9%
Chesapeake & Ohio.................
9
9
100
8% Jan. 10 9% Jan. 8
17
17
’16
18
17
17
17
16
Do
1st pref. 17
16
16
16
340 16 Jan. 20 17 Jan. 13
11% *10
11% 11% 11% *10 ....
Do
2d p ref. 101s 10i8 * 10% 11% ’10
26 9% Jan. 7 11% Jan. 20
137 137% 137% 137% 137% 137% 138 138
Chicago Burlington & Quincy. 137 13
138 138%
790 13678 Jan. 13 138% Jan. 21
Chicago Milwaukee & St.Paul, 887s 903s 8938 903s 8938 90% 89% 90% 90
90% 89
90% 117,260 88% Jan. 5 91 Jan. 3
Do
pref. I I 734 117% 117%118% 117% 1177( 117% 117% 117% 117% 117% 117%
602 117% Jan. 8 118% Jan. 17
Chicago & Northwestern....... 112ia 1133s 112% 113% 113 113% 113% 113% 113% 114
112% 113% 14,435 111% Jan. 12 115 Jan. 3
Do
pref. 138 I 3913 *138 139% ’138 139% 140 140 ’ 139 140 '139 140
5 139 Jan. 12 140% Jan. 5
125% 126
125% 125% 126 126
Chicago Rook Island &Pacific. 125% 126
126% 126% 126% 126%
881 125% Jan. 15 126% Jan. 6
17% 17% *17
18% 17% 18% *17 . . . .
Chicago St. Louis & Pittsburg. 18
18%
990 16% Jan. 3 18% Jan. 11
39
39
39% 39% 39% 39% 38% 381
Do
pref. 3978 40ia 38% 4012,870 38 Jan. 6 40% Jan. 15
50% 50
Chicago St. Paul Min. & Om.. 49% 50% 49% 50% 49% 503s 50
503a 49% 501 18,070 47% Jan. 5 51% Jan. 7
Do
pref. 108 78 1087s 108 108% 108% 108% 108% 108%
108% 108%
688 108 Jan. 5 1097e Jan. 3
64
"63% 637i 63% 63%
ClevelandCol.Cin.&Indianap. 63% 63% 64% 64 »4 64% 64% 64
825 63 Jan. 4 65% Jan. 3
37% 39
38
38
35% 374
37
38
Columbus Hocking Val.& Tol. 3838 39
35% 37% 45,021 35% Jan. 20 39% Jan. 11
Delaware Lackawanna&West 134% 135% 134% 1353s 135 136% 136 137% 136% 137% 135% 1373s 111,255 133 Jan. 5 138 Jan. 3
28
28% 27
28
27% 27
Denver & Rio G., assessm’t pd 28
27% 27% 27% 26% 264
2,120 26% Jan. 21 28% Jan. 3
Do
pref. 64% 64% 64% 64% 63% 64% 63% 64% 63% 63% 61% 62%
6,839 59% Jan. 4 66 Jan. 13
14% 16% 14% 15% 14% 15
East Tennessee Ya. & Ga. R’y. 15% If
14% 15
14% 14%
8,514 14% Jan. 21 17 Jan. 3
80
80% 77% 80%| 78
78% 78% rs% 78
Do
1stpref.
78% 77% 77%
4,472 77% Jan. 4 82% Jan. 13
30
26
27% 26
26% 26% 27% 25% 26% 16,885 25% Jan. 21 32 Jan. 3
Do
2d p r e f. 29% 30% 26
88
87
8
Evansville & Terre Haute__
862 86% Jan. 6 89 Jan. 3
*12
13% *11
13%
Green Bay Winona & St. Paul.
*11
135« 12% 124|
170 12% Jan. 21 13% Jan. 3
Houston & Texas Central. . . . .
42 Jan. 11 45 Jan. 3
134% 134%
134% 134% 134% 134%
Hlinois Central
310 132% Jan. 7 134% Jan. 19
17
Indiana Bloomingt’n & West’n 1678 17ki 17% 17% 17
17
17
17% 17% 17
17
1,947 15% Jan. 4 17% Jan. 14
94% 95% 93% 95% 94% 95
95
Lake Shore & Mieh. Southern x93
93% 94% 78,692 93 Jan. 15 96% Jan. 14
94% 95
*93
93
94%
93
Long Island...........................
93% 94
94% 95
1,500 93 Jan. 15 95 Jan. 4
63% 64 ^ 6478 65% 65
66
Louisville & Nashville..........
65% 65% 64% 65% 63% 64% 37,045 63% Jan. 4 67% Jan. 3
*60
65
60
60
60
60% 61
Louis. New Alb. & Chicago..
61
550 60 Jan. 12 65% Jan. 3
156% 156% 156 157% 156 156
Manhattan Elevated, consol. 156% 158% 156 158
i.55% i.56%
8,350 154 Jan. 5 158% Jan. 3
62%
61
62% 61
Memphis & Charleston..........
59
59
3,342 57% Jan. 3 63% Jan. 7
91% 91% 92
91% 91% 90% 92
Michigan Central................... x91
91% 91% 88
89
2,955 88 Jan. 21 93% Jan. 3
70
70% *69% 71
69% 70
Mil. Lake Shore & West........
70
70
*69% 71
70
70%
1,355 66% Jan. 6 7078 Jan. 21
98% 99% 99
98% 99
99 % 993s 99% 100 100
Do
pref
99% 100% 4,720 98 Jan. 4 100% Jan. 21
19% 19% *19% 20
*19
20
Minneapolis & St. Louis.......
*19
19% 19
19% *18% 19%
700 18% Jan. 12 20 Jan 3
45
45
45% 45
*45
45% 44% 44%
Do
pref
44
44%
650 42% Jan. 5 45% Jan. 13
30% 31% 30% 31% 31
31% 3138 31% ”31% "31% 30% 31% 9,340 30% Jan. 21 33% Jan. 3
Missouri Kansas & Texas....,
Missouri Pacific..................... . 107 108% 107% 108% 107% 108
108 108% 107% 108% 106% 107%
6,161 106% Jan. 21 109% Jan. 3
1678 17% 16% 17% *16% 17%
Mobile & Ohio..........................
*16% 17% 163a 163s
700 15% Jan. 12 19% Jan. 8
85
84% 84
85
85
85% 85% 84% 84% 84% 84% 4,970 82% Jan. 13 88% Jan. 3
N ashv. Chattanooga&St.Louis 84
112%
113% 113% 114% 113% 113% 113% 113% 113% 113% 112% 113% 11,518 111% Jan. 5 114% Jan. 17
New York Central & Hudson
9% 12% 11
12% 15
11% 11 % 11 % 11% 11%
New York Chic. & St. Louis..
11
11
17,61
9% Jan. 17 15 Jan. 15
24% 27% 23
25
24
24% 23% 25% 24
Do
pref.
24% 23% 24%
9,936 22% Jan. 4 28 Jan. 13
New York Lake Erie & West’n 33% 34% 33% 34% 333a 33% 33% 33% 33% 34
323s 33% 48,505 32% Jan. 21 34% Jan. 3
72% 73% 73% 73% 72% 72%
Do
pref
72
72
*70
72%
1.125 71 Jan. 6 73% Jan. 3
53% 54% 53
54% 53% 54
53% 54% 53% 56%
New York & New England..
56%|113,940 51 Jan. 12 56% Jan. 21
19% 19% 19% 19%
New York Ontario & West...
19% 19% 19% 19%
1,425 19% Jan. 21 20% Jan. 3
11% 11% 11% 11% 11% 11% 11 % 12 % 12 % 12 % 12
New York Susq. & Western..
12 % 12,503 11% Jan. 12 12% Jan. 20
32% 32% 32% 32% 32
32
32% 34
Do
pref
34
34% 33% 34% 13,259 31% Jan. 5 34% Jan. 20
20% 20
20
21% 20
Norfolk & Western.............
20
20% 20% 20 % 20 %
20
20 %
3,655 20 Jan. 15 23% Jan. 3
51
52% 49% 51
52% 51
Do
50% 51% 50% 51% 503a 51% 40,820 49% Jan. 5 54 Jan. 13
pref
27% 27% 27% 27% 27% 27% 27% 27% 27% 27% 27% 27% 4.125 26% Jan. 8 28 Jan. 3
Northern Paciflo..
60
59% 60
60
Do
59% 59% 60% 60% 603a 60% 58% 59%
pref
6,539 58% Jan. 21 61% Jan. 3
27% 28% 28% 28% 27% 28
27
28
Ohio & Mississippi
27% 28
27
27%
3,315 27 Jan. 15 29% Jan. 3
Ohio Southern........................
19
19
100 19 Jan. 4 21 Jan. 14
32% 32% 32% 32% 32% 32% 32% 32% 32% 327sl 31
Oregon & Trans-Continental.
32% 12,690 31 Jan. 21 34% Jan. 3
34% 35% 34% 35
33% 35
Peoria Decatur & Evansville
34% 34% 35
35% 34% 351 18,500 30% Jan. 3 35% Jan. 20
37% 39
38% 39% 38% 39% 39% 40% 4078 42% 39
Philadelphia & Reading.......
41% 449,535 36 Jan. 5 42% Jan. 20
Richmond & Alleg., receipts..
9% 9% 10 % 10 %
9
9
9 Jan. 20 10% Jan. 5
415
52
45 % 53
45% 47
Richm’d & West P’nt Terminal 46
46% 48% 46% 48% 45% 4738 393,736 40 Jan. 12 53 Jan. 17
86% 82
87% 83
Do
prel 82
84
83
83% *82
83% 82
82% 12,451 75 Jan. 11 87% Jan. 17
94% 95
91
91
94
94% 93% 93% 90
Rome Watertown A Ogden sb’g
90
70E 90 Jan. 21 95 Jan. 17
32% 33
31% 32
31% 31% 31% 31% 32
St. Louis & San Francisco...
323g 31
31
2,900 31 Jan. 5 33 Jan. 17
65%
66%
67%
67%
65%
66% 66% 6738 *65% 67
Do
pref...
65
65%
5,625 63 Jan. 6 67% Jan. 15
116 116
116 116
Do
1st pref *115 117 *115 L17
116 116
116 116
572 114 Jan. 5 117% Jan. 8
58% 59% 58
58% 57% 58% 59
St. Paul & Duluth___
61% 60
61% 59% 60%
8,155 55% Jan. 7 61% Jan. 20
108% 108%
Do
pref.............
107% 108%
108% 108%
217 107 Jan. 10 108% Jan. 4
St. Paul Minneap. & Manitoba 114% 115%
115% 115% 115% 115%
114 114
117 Jan. 3
915 113% Jan.
37
Southern Paciflo C o ..............
36% Jan. 5 36% Jan. 10
25% 26% 25% 26% 25% 26% 26% 26% 25% 26% 24% 25% 31,055 24% Jan.
Texas &.Pacific, 1st ass. paid.
26% Jan. 13
58% 60% 59% 60% 58% 59% 59
Union Pacific...........................
59% 59% 59% 58% 59% 83,999 58% Jan. 8 62 Jan. 3
17
17
17% 16% 17
17
Wab. St. L. & P.,P. Com. repts.
16% 16% 16% 16% 14% 15
3,680 14% Jan. 21 19 Jan. 3
30
31% 30% 31% 30% 31% 30% 31
Do
pref.
30
30% 27
29% 12,720 27 Jan. !21 35 Jan. 3
M is c e lla n e o u s S t o c k s .
38% 39% 38% 39% 38% 39
Colorado Coal & Iron.............
39% 39% 38% 39% 38% 39
6,535 37% Jan. 4 40% Jan. 3
Consolidated Gas Co............... 83% 86% 84% 86% 83% 85% 84% 85
84% 84% 83% 84% 40,425 79 Jan. 7 86% Jan. 15
103% 104% 103% 104% 103% 104% 102% 104
Delaware & Hudson Canal... 103 104% 103 104
9,458 101% Jan. 4 104% Jan. 15
44% 44%
Oregon Improvement Co.......
20 43 Jan. 8 47 Jan. 13
Oregon Railway & Nav. C o... 101% 101%
102 102
100% 101% 98 100%
6,568 98 Jan. 21 104% Jan. 3
49
Pacific Mail............................
50% 50% 52% 51% 51% 51% 51% 5138 51% 51% 53% 36,105 48% Jan. 8 53% Jan. 21
’109
Philadelphia Co., Nat. Gas__ 109
110 . . . .
114 114
114 114% 112% 113
650 110 Jan. 14 114% Jan. 20
Pullman Palace Car Co.......... 142 142% ‘142 145
144 144
143% 144
145 147% 146% 146% 3,367 139% Jan. 4 147% Jan. 20
73% 74% 73% 74% 73% 74% 74
Western Union Telegraph__
74% 73% 74% 73% 74% 41,816 72% Jan. 5 76 Jan. 3
E x p r e s s S to ck s .
Adams..... ................................. *139% 141
140 141
141 141 *140 141
141 141 *140 141
15 139% Jan. 4 141 Jan. 14
American
108 108
107% 109
107% 109
107% 107% 108 108
Í07% 109
55 107 Jan. 5 109 Jan. 3
United States...........................
64% ' 64% *62% 64
63
64% *62% 64
*62% 64
190 63 Jan. 4 64% Jan. 11
63% 63%
Wells, Fargo &Oo................... I 128
128 129
129 130
126 130 127 130
126 130
125 130
156, 128 Jan. 15 12934 Jan. 4
I n a c t iv e S to ck s .
Atchison Topeka & Santa Fe. 97% 97% 97% 98
97% 97%
600 96% Jan. 5 98% Jan. 8
101% 101% 101 102
Boston & N. x. Air-Line, pref.
101 101
101 102
108 101 Jan. 8 101% Jan. 10
Buffalo Roch. & Pittsburg___ 35
35
*34%
*34% 36
33% 34% *34 . . .
34% 34%
356 33% Jan. 19 35% Jan. 12
Cedar Falls & Minnesota........ *17% 18% 16% 17
17
17
17% 17% 17% 17%
500 16% Jan. 17 19 Jan. 7
14% 14% *13% 14% 15
Central Iowa...........................
15% 15
15% 15 • 15
15
15
2,620 14 Jan. 11 15% Jan. 10
Cinoin. Ind. St. Louis & Chic
98
98
98% 98%
400 95 Jan. 7 98% Jan. 20
*5
6
6
Cincinnati Wash. & Baltimore.
6
*5% 6 % *5% 6%
6
6
6 Jan. 13
6% 6%
285
7 Jan. 13
*9 % 10% *9
Do
rref.
10%
9% 9%
9% 9%
9% 9%
*9% 9%
500 9% Jan. 12 10% Jan, 14
Denv. & Rio Grande Western. 23
23%
23
23% 22% 22% 22% 23
1,800 22% Jan. 20 23% Jan. 13
Mexican Central.....................
1334 13% 13 % 13%
400 13% Jan. 5i 13% Jan. 4
Morris & Essex........................
140 140%
’139% 141
29|139% Jan. 8 140% Jan. 5
Quicksilver Mining Co., pref. 32
32
31% 31% 32% 33
32% 32% 32% 32%
1,900 28 Jan. 4 33% Jan. 12
32% 33
Toledo <fc Ohio Central, pref.. 58% 58% 57% 57% *58
60
58% 58% *58
60
*58
60
208 57% Jan. 17 58% Jan. 15
Virginia Midland...................
40
42
40
42
41
41
*40
42
500 35 Jan. 6 42 Jan. 15
Cameron Coal.......................... 42% 42% 42
421 "4 2 " ”42% 41% 43
43
44% 44% 46% 18,709 39% Jan. 4 46% Jan. 21
New York & Perry Coal........ x66
66% 67
67% 67% 68
68
68 %
69
69% 69% 70%
6,310 62% Jan. 3 70% Jan. 21
52% 53
Tennessee Coal & Iron...........
52% 53% 51% 52% 50
52
50% 51% 50% 51
11,160 44 Jan. 5 54% Jan. 14
V a r io u s S t o c k s , & c. (Uni isted.)
Amer. Cotton Oil Trust..........
62 %- 63% 63% 64
63% 64
63% 637s 63% 63% 62% 63% 16,331 61 Jan. 12 64% Jan. 3
Pine Line Certificates.............
70
71% 70% 72% 71% 72% 7178 72% 71% 72
70% 71% 13,018000 68% Jan. 14 72% Jan. 11
St. Louis Ark. & Texas:.........
25% 25% ........ 26
1,100 24% Jan. 5 26 Jan. 10
25% 2578 25% 25% 25
25%
99% 100% 100 100% 100 100% 100 100% 100% 100% 100% 100% 146.000 99% Jan. 4 100% Jan. 8
Do
1st mort..
55 ........
Do
2d mort..
55% 55% 55
55
55% 55% 55% 55% 55% 55% 127.000 55 Jan. 18 56% Jan. 8
Lake Erie & West., 2d ass. pd. 25% 26
26% 26% 257s 26% 26% 26% 25% 26% 7,975 22% Jan. 3 26% Jan. 20
25% 26
Do
pref. when rss. 58% 59% 60
60% 60
60% 60% 62% 62
63% 60
63% 18,550 52 Jan. 5 63% Jan. 20
Kingston & Pembroke............ 40% 40% 40% 41% 40% 41% 41
41% 40% 41% 38% 40%l 31,406 38% Jan. 21 41% Jan. 17
* These are the prices bid and asked; no sale was made at the Board.
rVoL. XL1V.
THE CHRONICLE.
114
PRICES OF ACTIVE BONDS AT N. Y. STOCK EXCHANGE ON FRIDAY, AND RANGE SINCE JAN. 1, 18S7.
Closing.
Name o f Bond.
Ian. 141.Jan. 21
Range since Jan. 1.
Lowesl.
1 Highest.
Closing.
Name o f Bond.
Jan. 14 Jan. 21
Range since Jan. 1.
Lowest.
! Highest.
131 b.i 132 Jan. 132 Jan.
132
90 Jan.
Imp. A Equip.—6s, 1922........ 89 b. 90 a. ¡ 89% jan.
99%
98*4 Jan. 100*3 Jan.
Mo. K.ATex.—Con., fc's, 1920... 99*8
87“)3 Jan.
Consol., 5s, 1920..................... 1 86%b.| 86*2 1 85*4 Jan.
112 Jan. ¡113 Jan.
113
Consol., 78,1904-5*0................ 113
109% jan. 110 Jan.
[obile A Ohio—New, Gs, 1927 .. 109 b.j
i 06 b.l
1st, Extension, 6s, 1927.........
65 jan.
62*sb. 62*s Jan.
1st prof, debentures, 7 s .......... 63*2
2d pref. debentures, 7 s .......... 38 b. 38 a. 36 Jan. 1 36 Jan.
32 a.
...
3d pref. debentures, 7 s ..........
4tli pref. debentures, 7 s ........
854i Jan.
*8*4%b.| 84% jan.
Mutual Un. Tele.—S. f., 6s, 1911 84%
105*4 Jan. 106 Jan,
N.Y. Central—Extend., 5s, 1893 ,105%b.l 106
N.Y.C.&H.—1st, cp.. 7s, 1903 !l34*2b.| 134 b. 133*4 .Tan. ¡134?i Jan.
Debenture, 5s, 1901............. ¡108%b.l 109*2 1108% Jan. 109*3 Jan.
N.Y.AHar.—1st, eou.,7s, 1900 1132 b. 132 b. [132 Jau. 132 Jan.
85 Jan. , 973g Jan.
96%
92 b. 70 Jan. T 93 Jan.
2d inort., 6s, 1923..................
67
%b.
66ia Jan. I 6978 Jan.
Y. City & N o—Gen., 6s, 1910 .. 69
Jan. 1123 Jan.
N.Y. Elevated—ist. 7s, 1906.... 122*s 12158*1.
0 - r121ia
— -------N. Y. Lack. A IV.—1st, 6s, 1921. 125%b. 125*3b. 125*2 Jan. 126% Jan.
LIO
i109%
1
1093g Jan. 1LIO Jan.
Construction, 5s, 1923........... 109 b. 110
.09*4b. 11AT
.07 Jan.
N. Y. Ont. & W.—1st. 6s. 1914.. 107 *b. 1AQ*'*'
To" ILIO Jan.
92 a.| 92*3 Jan. 92*2 Jan.
N.Y.Sus. AW.—1st,63,’ ll.cp .ofl 92*3
92ia
71
Jan.
I 71% Jan.
71*2
a.)
Debenture, 6s, 1897, coup, oil 71
L12 b.í .12 Jan. .14 Jan.
Midland of N. J —1st, Os. 1910 114
81*2
Jan.
1
83*2 Jan.
82% 1
N. O. Pacido—1st, 6s, 1920........ 82*3
.15% Jan. .16% Jan.
North. Pacific—1st, coup.,6s, ’21 116% L16
Jan.
.03%
Jan.
1.07*4
107*4
Gen’l, 2d, coup., 1933............. 105%
James R. Val. 1st, 6s, 1936 ' 107 b.¡ i07 b.| .06*2 Jan. I 107*4 Jan.
Jan.
104
*3b.
1
04
Jan.
1105
N. Pac. Ter.Co.—1st, 6s. 1933. 103?ib.
Ohio & Miss.—Consol., 7s, 189 118*2'b. L18%b. ¡18% Jau. 119*3 Jan.
118
Jau.
L18
Jan.
1
118 a. L18 b.
2d, consol., 7s, 1911
Lll a. L09 Jan. I L09 Jan.
Springfield Div.—7s, 1905 . . . .
....
1st, general, 5s, 1932.............. 90 b. 90 b;
Ohio Southern—1st, 6s, 1921. .. 105 a. L04*sb. L03*s jan. j 104*2 Jan.
45
42%
Jan.
1
47*3 Jan.
2d,inc., 6s, 1921...................... 46*3
93 Jan. | 94*3 Jan.
94%
Oregon Iinpr. Co.—1st, 6s, 1910 94*3
Ore. R. ANav. Co.—1st, 6s, 1909 109%b. 109 b. LOS Jan. I L09*3 Jan.
L05% L05 Jan. L06 Jan.
Consol., 5°, 1925...................... 106
L02
LOI Jan. 102*3 Jan.
Oregon & Transoon.—6s, 1922.. 102
Peo. Dec. A Evans.—1st, 6s, ’ 20. 114 a. L14 a. L14 Jan. 114 Jan.
85 Jan.
85 a. 81*3 Jan.
Income, 6s, 1920..................... 85
Evansv. Div— 1st, 6s, 1920... 110 b. 108 b. L10*2 Jan. 110*3 Jan.
84% Jan.
Income, 6s, 1920.................. 84 %b. 85 a. 79*3 Jan.
68*2 Jan.
71*3 Jan.
69
Rich A All.—1st, 7s, 1920. tr. ree 70
Richm. & Dan.—Cons., 6s, 1915 113*3 113 b. 113 Jan. 113*3 Jan.
114 a.l
Debenture, 6s, 1927 ...............
....
106 a. 1
Debenture, assented...............
....
Rocb. & Pitts.—1st, 6s, 1921... 115 b. 115*31,. 1
Consol., 6s, 1922..................... 107*3b. 108 b.|108 jan. 108 Jan.
Rome W. A Ogd.—1st, 7s, 1891. 110 b. 110 b.|110 Jan. ¡110*3 Jan.
Consol., extend., 5s, 1922....... 103% 1103*4 102% Jan. 103*4 Jan.
102 Jan. 1107 Jan.
Income, 7s. 1932..................... 107 b
107% 106% Jan. 107*3 Jan.
St. Jo. AGd. Isl.—1st, 6s, 1925 . 107
2d, income, 5s, 1925 ............. 71*sb. 72 b. 71% Jau. 73*3 Jan.
St. L. Alt. A T.H —1st, 7s, 1894. 114 b. 112*2b. 114 Jan. 114 Jan.
2d, M., pref., 7s, 1894............. 112 b.
2d., M., inc., 7s, 1894.............. 107 b. 10713b. 107*2 jan. 108 ja n .
38 Jan.
35 Jan.
Dividend bds, 6s, 1894........... 37 a. 37
St. L. & Ir. Mr.—1st, 7s, 1392. 114 b. 114 b. 113% Jan. 115 Jau.
2d mort., 7s, 1897................ . H3*2b. 113*ib. 113 Jan. 113*4 Jan.
Gen. Ry. A land gr., 5s, 1931. 100 a. 98 a. 97*3 Jan. 99 Jan.
115 b. 115 b. 115*2 Jan. 115*2 ja n .
115 b. 114% 114*3 Jan. 115 Jan.
6s, Class C, 1906................... 114 b. 114% 114% Jan. 114*2 Jan.
110 Jan. l l l Jan.
Gen’l m ort, 6s, 1931.. . . . . . . 110% l l l
So. Pac., Mo.—1st, 6s, 1888. 101%b. I01*3b. 11)1*2 Jan. 1u4*2 Jan.
St. Paul M. A M.—1st, 7s, 1909. 109 b. 109 b.
120 a. 119 Jan. 120 ja n .
119
2d, 6s, 1909...........................
119 Jan. 120 Jan.
11934b. 119
1st cons , 6s, 1933........ .
96 Jan. 100 Jan.
98
Shenandoah Val.- 1st, 7s, 19C 100
43 a. 43 Jan. 43 Jan.
43
Gen’l mort., 6s, 1921...........
107*sb. 107*3 107*2 Jan. 107*2 Jan.
So. Carolina—1st. 6s, 1620__
80 j an.
76 b. 82 a 80 Jan.
2d. 6s, 1931...........................
28*3 Jan.
2713a. 29 a. 28*2 Jan.
Inc., 6s. 1931.....................
So. Pac., C al—1st, 6s, 1905-12 112*sb. 112*cb. 112*8 Jan. 112*3 Jan.
So. Pao., Ari.—1st, 6s, 1809-10 110 b. 110 b.
105 *4b. 105% jan. 106*4 ja n .
So. Pao., N. M.—1st, 6s, 1911.
62%
64 Jan.
59% Jan.
62*3
Tex. & Pac.—Inc. & Id gr, 7s, ’]
72% Jan. 74% Jan.
72*3
Rio Grande Div.—6s, 1930 .. 74%
67 Jan.
69*3 Jan.
Gen. mort. &term., 6s, 1905. 67*sb. 68*3
104 a.
Tex. & N. O.—Sab. Div., 6s,1911
92 ja n .
90 b. 91 jan.
Toi. A.A. A N. M.—1st, 6s, 1924 91*4
Toi. A. A. A Gr.Tr.—1st, 6s, 1 " " ' 103 b. 100 b. 103 Jan. 103 Jan.
109
Jan.
109
|104
Jan.
106
Tol. Peor. & West—1st, 7s, ’!
99
1 99 jan. 99% Jan.
99*3
Tol. & Ohio Cent.—1st, 5s, 1
114%
115
Jan.
¡114
Jan,
114*3
Union Pacific-1st, 6s, ls96
. 102 *4b 102 4>b. 1102 Jan. 102% Jan.
Land grant, 7s. 1887-9---H8*4b.
¡118*4
Jan.
118*4
JanSinking fund, 8s, 1893—
. 118*4
. 112*3b 113 %b. ¡112*2 Jau. 112*3 Jan.
Kan. Pacific—1st, 6s, 1895
112
Jan.
112
¡112
Jan.
.
112
b
1st, 6s, 1896....................
. 114*4b 114*2b ¡1)4 Jan. 114% Jan.
Denver Div.—6s. 1899..
. 106% 106% ¡106*2 Jan. i07 Jan.
1st consol. 6s, 1 9 1 9 __
. 107 b 107% 106% Jan. 107*3 Jan.
Oregon Sh. Line 1st, 6s. ’
Virginia Mid.—ine., 6s, 1921 . 97*sb 96%b 97 Jan. 99 Jan.
YVab. St.L. & Pac. Gen., 6s, 0 57 b 55 a 57 Jan. 60 Jan.
92 Jan. 94 Jan.
. 92%
93%
Chicago Divison—5s, 1910
. 85 b 87 b 85*4 Jan. 85*4 Jan.
112*sb
110% Jan. 113*2 Jan.
0 112 b
Tol. & Wat).—1st, ext..
. 108 b J109% ¡06 Jan. 111*3 Jan.
1st, St. L. Div.. 7s, 181
. 101
[102*2b 100 Jan. 103*4 Jan2d, extended, 7s. 1891
. 92*3b 92 b 90 Jan. 95*3 Jan.
Con., conv., 7s, 1907.
lll*4 b 109 Jan. 112*3 Jan.
. 111
Great West.—1st, 7s, 16
. 101 b. 103 b 99 Jan. 103*4 Jan.
2d, 7s, 1 8 9 3 ..............
. 110*3b 110*3b 110 Jan. 112 Jan.
St.L.K.C. & N.—R.e&r.,
»02% Jan 103*4 Jan.
West Shore—Guar.. 4 s ...
. 1103*8 103
88*2 Jan. | 90*2 Jan.
Atl. A Pac., W.D.—1st, 6 s, 19101
27 *ÿï). 27*3 Jan. 29*8 Jan.
W. D. ino., 6 s, 1910................. 28%
87% 1 87% Jan. | 90 Jan.
Guar., 4s, 1 9 3 7 ....................... 00
! 105% 1105*4 Jan. I106 Jan.
Can. South.—1st guar., 5s, 1908{ 06
'2d, 5s, 1913............................. 94%b.| 94%b.| 94% Jan. | 95*2 Jan.
89*8
1
89% 1 89 Jan. | 90% Jan.
Cen. Iowa—1st, 7s, ’99, coup, ofll
Central of N. J.—1st, 7s, 1890.. j 108*3 108*2 1L08*8 Jan. |L08*2 Jan.
n
o
1109%
!107*3 Jan. |LIO*2 Jan.
‘Consol, 7s, 1899, assent.......... 1
Convert. 7s, 1902, assent........NU 0 *3a.| 09*2b. 1109 Jan. 1LIO jan.
L07
b.|
103*2 Jan. |L07*2 jan.
106*3
, Adjust. 7s, l9i)3.......................1
85*eb.| 83% Jan. | 86*3 Jan.
Convert, deb. 6 s, 1908........... 86
L
10
b.|
111
b.
110
Jan. L10*2 Jau.
Le’li & W.B.,con.7s, 19()9.as’nt
LOI
99 Jan. L01*2 Jan.
Am. Dock & Imp., 5s, 1921. .. |100
n
o
b.
Cites. & O.—Pur. m. fund 6s, ’98
80
76*4J an. 81 " ja n .
6 s, gold, ser. B,1908, coup, oil! 80
30 Jan. 32 Jan.
6 b, currency, 1918.......... ....... | 31 *3 1 31
97% Jan. 98% Jan.
Mort. 6 s, 1911......................... 97% 1 98%
Ches. O. & Bo. W.—5-Gs. 1911... 103 *2 1104 *3b. 103*2 Jan. LO.) *4 Jan.
Chicago & Alton—1st, 7s, 1893. I14*2b.| 115*2 1115% Jan. 115*2 Jan.
105 b.|104*2 Jan. L05*2 Jan.
Chie.ßur. & N o r.-1st, 5s, 1926.1 105
Chic. Burl. & Q.—Deb. 5s, 1913.! L06 *4 1106*2 1106 Jan. 106*2 Jan.
98*sb.
98*sb. 98% Jan. 99 Jan.
Denver Divi**., 4s, 1922...........|
....
Plain 4s, 1 9 2 1 ....................... . . . . . . . 1
99 b.| 98*2 Jan. 99*3 jan.
99
Chic. & Ind. Coal R., 1st, 5s, ’36
120*3 Jan. 122*3 Jan,
CK.MiL & St.P—1st, I.&M.7S, ’97 121 b.| 122
Consol. 7s, 1905.......................1128 b.|128*ib.| 128 Jan. 130 Jan.
1st, So. Min. Div.—Gs, 1910.... 115*2b.| 116% 1115*2 Jan. 116*2 Jan
108 b.|106*4 Jan. 109 Jan.
1st; Chi. & Pac.W.Div—5s, ’211 109
"Wis. & Min. Div.—5s, 1921 — 1100 %b. 106*2b.| 105*3 Jan. 106% Jan.
103 b. 103 Jan. 103% Jan.
103
Terminal 5s, 1914.................... 1
Chic & N. W —Consol. 7s, 1915 140 b. 140*21).! 140 Jan. 141 Jan.
131
b.
131 b. I132 Jan. 133 Jan.
Gold, 7s, 1902..........................
Sinking i und 6 s, 1929............ 118 b. 118 b. 117*3 Jan. 120 Jan.
108 *2b. 108*3 Jan. 109*2 Jan.
109
b.
Sinking fund 5s, 1929.............!
Sinking fund debent. 5s, 1933 109 b. 108*2b. 108*4 Jan. 109 Jan.
107% 107**8 Jan. llüSM Jan.
25-vear debent, 5s, 1909......
Ch. St.P..M. A 0 .—Consol. 6 s. ’30 121% '’ 121% 121*4 Jan. ]122*4 Jan.
101 b. 98% Jan. |101 Jan.
101
b.
ChuSt.L.A Pitts.—1 st, con. 5s,’32
107*28. 108 Jan. 109 Jan.
C.'C. C. & Ind.—Gen. 6 s, 1934 .. 108
102
102% 100*3 Jan 102*3 Jan.
COl., Coal & Iron—1st, 6 s, 1900..
85%
85*s Jan. 8 8 % Jan.
COL H. Val. A Tol.—Con. 5s, ’31 83
88 %a. 88 Jan.
91 jan.
Gen. «told. 6 s. 1904................. 91
Denver & Rio Gr.—1st, 7s, 1900 119*21). 110*2b. 119% Jan. 120 Jan.
79%
7908
78% Jan. 80 Jan.
1st con. 4s, 1936 . . . . ------ —
81 a. 80 Jan. 81*4 Jan.
Den. & R. Qr. W .- 1st, 6 s, 1911 81
78
77
76 Jan. 78 Jan.
Assented.................................
80 Jan. 80 jan.
Den. So. Pir. A Pac.—1st, 7s, ’05 81 a. 8 J
Det. Mac. & Mar.—1st. 6 e, 1921
51%b. 51 Jan. 53 jan.
Lhnd grant 3*«s, 1911............. 53
V..
Income 7s, 19 21. ..................
98% Jan. 99% jan.
99*8
E. Ten. V. A G. Ry.—Con.,5s, ’56 ’ 09*4
106
107*2«.
105 Jan. 108 Jan.
Eliz. Lex. A B. Sandy—6 s, 1902.
Etle—1st. consol, gold, 7s, 1920 134*2b 135 b. 134% Jan. 136 Jan.
Long Dock, 7s, 1893 .............. 114 b 113*2b. 113*2 Jan. 113*2 Jan.
117 b.
117 Jan.
97 Jan 100 Jan.
N.Y.L.E.ÄW—2dcou. 6 s, ex c. 98%
98%
92*4 Jan.
90 b. 89*4 Jan. 90% Jan.
F t W. ADenv. C. -1st, 6 s, 1921 90%
... .
....
Gal.Har.A San. Ant.—1st, 6s, *10 ................. . 110 a.
n o * 2b. 110*3 Jan. 111 jan.
2d M., 7s, 1905 .......................
100 a 99*3 Jan. 100*8 Jan.
West. Dii ision—1st, 5s, 1931. 1ÓÓ
9L*4b. 92*8 Jan. 92*8 jan.
fs i<)31
Gr’ n B.W.A St. P.—1st, 6 s, ex cp. 98 b. 100 b. 99 Jan 100 Jan.
39 %b. 39*8 Jan. 40% jan .
2d ificome 8s, 1911.................. 40*4
120% Jan. 122*4 Jan.
Gült Col.ASan.Pe—1st,7s, 1909 120 b. 121
102 *8b. 10 1*2 Jan. 102 Jan.
Gold, Gs. 1923.......................... 102
Henderson Br.Co.—1st, 6 s, 1931 109*3 109*eb. 108% Jan. 109% jan.
113
112% Jan. 114 Jan.
H u^TVx .C.—I stM.L. 7s, con. of! 114
1st, West. D., Vs, 1891, cou. off 108 b. 108 b. 108*4 Jan. 110 Jau.
lit,W aco A N. 7s, 19t>3, cou. oil 109 b. 109 b.
96 b. 1 95 *2 Jan. 97*3 jan.
2d. consol. M. L. 8 s, 1912....... 97*3
Gen. mort. 6 s, 1921................. 71*sb. 68*20. 1 69 Jan. 72 Jan.
Ind.Bl. A W.—1st, pref.,7s, 1900 118 b. 119*2b. 119*2 Jan. 119*2 jan.
96*4b. 91*2 Jan. 96*2 Jan.
1st, 5-6s, 1909.......................... 96
84
84 b. 77*2 jan.
86 Jan.
2d. 5-68,1909.........................
95
91 Jan. 95 Jau.
Eastern Division—6 s, 1921... 95
33%
30*4 Jan. 34% Jan.
Income, 6 s, 1921.................... 34
Iud. D.ASpr.—Ino. 1906, tr. ree.. 38 *2a.
I n t A Gt. Nor.—1st, 6 s, gold,’ 18 110*2b 117 b 117 " ja n . 117 " ja n .
94
1 93*3 Jan. 94% Jan.
Coupon, 6 s, 1909..................... 94
65 jan.
Kent. Centr.—Stamped 4s, 1911 63 l) 67 a 1 65 jan.
Knoxv. A 0 .—1st, 6 s, gold, 1925 97 b 95 b 1 97*2 Jan. 100 Jan.
Lake Erie A W.—1st, tis, 1919 . . 110 b 112 b 110 Jan. 112*8 Jan.
....... 1 40 Jan. 62 Jan.
Income, 7s, 1899.................. .. 61
Lafay. Bl. A M.—1st. 6 s, 1919 . 112 b 113%b 111*2 Jan. 113% jau.
I 0 S*4 Jan.
87 Jan.
85*a
....... |121*2 Jan. 121*2 Jau.
Long Island—1st, 7s, 1898........
ist, consol., 5s, 1931.............. .................. 115 a 114*4 Jau. 114*4 jan.
Lou. A Nasli.— Consol., 7s, 1898 120 b 120 b |119 Jan. 120 Jan.
N. O. A Mobile—1st, 6 s, 1930 105*4 105*2 |105 Jan. 105% Jan.
93 b I 90% Jan. 93 Jan.
2d, Gs, 1930 ............................................ 93
E. H. A N.—1st, 6 s, 1919 ............ 114*sb 114 b 115 Jan. 115 Jan.
General, 6 s. 1930 .................................. 107%b 108 b ! 107 Jan. 108*8 Jan.
Trust Bonds, 6 s, 1922 ..................... 106*2 106*2 104*3 Jan. 106*2 Jam.
97 b,| 98 Jan. 98 jan.
10-40, 6 s, 1924 ........................................ 93
Lou. N. A. A Ch. - 1st, 6 e, 1910 109 b 108 *2b.1109 Jan. 110*2 Jan.
96
*
4
06*3 Jan.
96
1 96 Jan.
Consol., gold, Gs, 1916...........
.1 0 1 Jan. 102 Jan.
Mem. A Cli’lston—6s, gold, 192' 100 b
....
. . . . . . . .|
Mexican Cen.—Newass.,7s,191
128 b.127% Jan. 128 jan.
Mich. Cential—1 st, con., 7s, ’01 . . .
1st, consol., 5 8 ,19 0 2 ........... ...... 110 b •1
Miss’riP ac.- 1st, cons., 6s,192C •115 b. 11.5*2b.114% Jan. 115*2 jan.
3d, 7s. 1906.......... ................ 122 b. 122 1 .¡122 Jan. 122 Jan.
Pac. of M o—1st, 6s, 188 8.... 104 *2b. 104*sb •I104*2 Jan. 104% Jan.
2d mort., 7s, 1 8 o l............... 110 a. 108 b.¡109 Jan. 110 dan.
Mil. Lid Sh. A W —1st, 6s, 1921 118*2b.120*4 ¡119*2 Jan. 121 *2 Jan.
|114 Jan. ¡117 Jan.
Michigan Div.—1st, 6s. 1924. 116 n.lllH
IN A C T IV E BONDS.
ill.Ceu.—(Con.)—G'ld,3 *28,19.) l j 08 b.i yb-^D.f 08 Jan.
Burl. C. R ap . A N. 1st, 5s, 1906. i106% 107*4 106 A) Jau. 107*4 aan.
C. St. L. AN. Q.—Gold.5s,19511 115 b. 115 b.i 115?i Jan.
Consol. & col. tr , 5s. 1934__ 103*ga. I0 1%a. lul*í Jan. loan Jau.
Lake Sh.- Con.coup., l s, 7s,1900 124 b. 125 b.
114 Jan. 115*4 Jan.
Centra} Pacific—gold 6s, 1895-8 115%b. 115
123% 122% Jan.
Com'c'oup., 2d, 7s, 1903..........
S§.n Joaquin Be. Gs, 1900........ i 113 b. 113 b.
119
117 Jan.
Metro. Elevated.—1st, 6s, 1908. Ìli)
Land grant Gs. 38 9 0 ............. 109*8 10 J*2 102% Jan. 103*2 Jan.
110 Jan.
2d, 6s. 1899...................... ....! 110% 110
Chic. & E. Ill —1st, s. f. 6s, 1907 j116 *48. 116 a. 115 *2 Jan. 116 Jan.
l03*sb.
104
Mil.
&
Nor.—1st,
M.
L.,
6s,
1910
b.
116
114
Jau.
Jan.
Consol. 6s, 1934...................... 114*3 114 b.
101 jan.
1st, on extern, 6s, 1913........... 1 01*2b! 103
Chi. R. L A Pac.—6s. crup, 1917. I82*4b. 132 b. 132*2 Jan. 135 Jan.
Morgan’s L. & T.—1st, 6s, 1920. 115 b. 115 a.
Exten. & ( O '. 5s, 1934.... . . . . 110 %a. 109% 109 4 JaD. 110*4 Jan.
1
1st, 7s, 1918.............................
Del. & Hud. Cau.—1st, 7s, 1891 109 »>. 109*3 109*2 Jan. LIO Jan.
i 33" a. 129*;1 Jan.
Nash. Cl). & St. L.—1st. 7s. 1913
116*2 Jan. 118*4 Jan.
Coupon 7 s. 1?94...................... 116 b. 117
Norfolk & W.—Gen’l, 6s, 1931.. 113*2 112 b. ¡112 Jan.
118 *4a. 116 Jan. 118 Jau.
Eyans. A T. H.—1st cons. 6s, ’21 116
¡115*83.
114*3 Jan.
New
River—1st,
6s,
1932........
110 Jan. l l l Jan.
Mount Vernon—1st, 6s, 1923.
10a. Jan, 108* t J an. 1 Imp. & extension, 6s, 1934__
ILULCfchteal—1£L gold. 4s, 1.951.-1 IOS. a. H'á.
N ote —3JUe lett
' b” indicates price bid, a n d “ a’’ price asked ; all other prices and the range are fiom actual sales.
103
Jan.
129*4 Jan.
113*3 Jan.
114*2 Jan.
J
anuary
115
22, 1887. J
Quotations iu Boston, fnllatlelphia and Baltimore.
S E C U R IT IE S .
S E C U R IT IE S .
BOSTON .
AtOR. A Topeka—1st, 7 s. $«.24
Land grant, 7 s.......... . $......... 123
P lain, 5s .........................I -------- 95
M ortgage, 5 s ..................$........... 103
M ortgage, 4%s . . . . . . . . ......... 99
108
Trust, 6s..........................
B ur.AM o.tnN eb.—E x ’t,6a 120 124
6s non-exem pt........ ................... 108 %
95%
4s.......................................$ -—
Land grant, 7 s ....... . .. $116 116%
111
C alifornia So.—6s.............
70
68
In co e 6 s ..................... .
90
89
Cons. Verm ont, 5 s ..........
101
%
101
C hic. K . C. * W est’n—5s.
70
I n c o m e s ......................... !..J>7
E ast’rn, Mass.—6s, n e w .. $127%
F rem .E lk H. A M o.V .-ös. ,| 120
K . C F ort S cott A 0 . - 7 8
K . C ity Lawr. * So.—6 s.. 113
K . C ity Sit. jo . A C. B.—7s 125
K . C ity Sp’d & M em.—6s 110 110 %
K .C . Clmt. & Spring!.—5s 103% 105
L ittle R . A Ft. S.—7s....... 114 >3 114%
M ar. H . A Ont.—1908, 6s, 101
98
1925, 6s............................
54%
M exican Central—4 s .......
64
Scrip..................................
6
7 s.......................................
17% 17%
in co m e .............................
78
S c r ip ___-.......................... 76
82
Debenture, 1 0 s . . . . . . . . .
125
N .M ex .A So.Pac.—7s.......
N . Y . A N . E ngland—7 s.. 126 126
117
6s.......................................
2ds, 6s,............................. iÖ6% 106
O gdensb.A L.Ch.—6s....... 5........ 107
Consolidated 6 s .............. 100 101
45
43
In com es...........................
P u e b lo A A rk. V al.—7 s.. 124 125
107%
"Rutland—1st 6 s . . . . -.........
95%
S outhern Kansas—5s....... 100% 101
85
82
Incom es.................. —
Sonora—7 s ......................... 102 % 103
94
93
W iscon sin Cent.—1st ser.
66% 57&
2d series...........................
STOCKS 1
97% 97 7j
A tch ison A T o p e k a .........
B oston A A lb a n y.............. 200 140
B oston A L o w e ll........
5....... 203
B oston A M a in e .........
218
B oston A P roviden ce —
B oston Con. A H .. p re f..
B oston R evere B. A Lynn 140
34%
C alifornia Southern.........
19% 19%
C entral of Massachusetts
4 5 “ 4b %
Preferred..................
Cheshire, p re te rre d .........
C hic. A E ast’n Illinois .. . iÖJV*
Chle. Burl. A N oitU 'n----- 83
60
Ohio. A W est M ich igan..
28% 26%
C ln n. Sandusky A C leve.
7%
7
Cleveland A Canton.. . . . . .
28%
P referred.........................
C ol. S piingf. A Cin..........
C o n co rd .............................. .. 120*
C onnecticu t R iv er............ ‘ iL j
C onn. A P a ssu m p sio.......
JDct. Lansing & N o., pref.
E astern ............................... 123 139
F it c h b u r g ..........................
30
F l i n t * Pere M arquette.
94% 9b
P referred.........................
b9
I o w a Falls & S iou x C ity.
40
Kan. C. Clin. & S prtn gfd
K an. City Ft. S. & G ulf ..
P referred.........................
K an. C. S pringf. & Mem. 68
48%
L ittle R ock & Ft. Sm ith.
M aliie C entral................... 165
M anchester & Lawrence. ,
U tr q . Hough t ’n A On ton. ig
74 -a
P referred.........................
12% 13®.
M exican Central..............
54%
,
53%
M . Y . & N ew E n gla n d . . .
Preferred......................... $120 128
127%
n o r t h e r n ............................
180
N o rw ich A W o rce s te r ...
13
Ogdensb. A L. Champlain
130
O ld C olon y ......................... 132
P ortland Saco * Portsm.
116
P orts. Gt. Falls A Con’y .
9
8%
R u tla n d ...............................
36%
P referred.........................
10
* 9 %
S um m it B ranch................
23%
W isconsin C en tra l........... 23%
36%
Pneierred.........................
W orcester N ash’aA Roch $14u
P H IL A D E L P H IA .
R A IL R O A D S T O C K S .!
B uff. N .Y . & Phih.ass.pd.
P referred_____ . . . . . . . . .
Cam den * A t la n t io .......
P r e fe r r e d ___, ................
C ataw issa—1st preferred
2d p re fe r r e d ...................
Delaw are A Bound Brook
E a s t Pennsylvania..........
E lm ira A W illia m s p o rtP referred.........................
H u n tin g d ’o A Broad Top
P re fe r r e d ........................
L eh igh V a lle y ..................
L ittle S ch u y lk ill..............
M inehill A Sell. H a v e n ...
N esqnehoning V alley —
N orthern Central............
N o rth Pennsylvania___
P en n sylva n ia ...................
P h ila d e lp h ia * E rie.......
P hila. Ger. & N orristown
P hila. N ew tow n & N .Y .
P hila. & R ea d in g ............
P hila. W ilm . & B alt.......
U nited N. J. Companies.
W e s t Jersey......................
W e st Jersey * A tla n tic..
C A N A L STOCKS.
L ehigh N a viga tion ....
S ch u y lk ill N a v .,p r e f... .
R A IL R O A D BON DS
A lleg h . V al.—7 3-10s, ’98
7s, E . ext., 1910..............
In c. 7s, end., coup., ’91
Balt. & O.E. Side—Certs.
Belvtd’e Del.—1 «t.fis.l o<»2
B elvid'e De’ . —3d, 6s, ’87
lien 's Gap—1st, 7s, 1893.
1st, 6s, 1905....................
Con., 6s, 1913..................
Buff. N .Y .& Phil.—1st,6s
Cons. 6s, 1921..........
ls t ,T r . 6s, 1 9 2 2 ............
Cam. & A m boy—6s, o.,’89
M ort., 6s, 1889...............
Cam. & A tl.—1st,7s,g.,’93
2d, 63,1904.....................
Cons., 6 p. o ........... ........
Catawissa—1 st, 7 s, con. o.
N ew 7s, reg. A cou p ___
Col. & C . M.—1st, 68.1914
Conneot’g 6s, cp ., 1900-04
Del. * Bound B r.—1 st,7s
D uluth Short L., 1st, 5s.
East Penn.—1st, 7s, 1888
Easton& Am h’y—5s, 1920
E l.* W m s p ’t - l st, 6s, 1910
5s, p e r p e tu a l..............
H arrisb’g—1st. 6s, 1883..
H .& B .T .—1st, 7s, g., 1890
Cons. 5s, 1895.................
Ithaca& A th.—1st, gld.,7s
Leh.V .—ls t ,6 s ,C .* R .,’98
2d, 7s, reg., 1910............
Cons. 6s, C.& R ., 1923—
N . O. Pao.—1st, 6s, 1920.
N o. Penn.—2d, 7s, o p .’96.
Gen., 7s, 1903.................
Debenture 6s, reg .........
N orfolk A W est.—Gen.,6s
N. R . D iv., 1st, 68.1932
N . Y .P h il.A Nor.—1st, 6s
In c.,6 s, 1 9 3 3 ..............
Oil Creek—1st, 6s, cou p ..
Pennsylv.—Gen., os, reg .
Gen., 6s, op., 1910.........
Cons., 6s, reg., 1 9 0 5 ....
Cons., 6s, ooup., 1 9 0 5 ...
Cons., 5s, reg., 1919----Pa. & N . Y . C.—7s, 1896.
7 ,1 9 0 6 ...........................Perkiomen—1 st, 6s,cp.’87
Phil. A E rie—1 st,7 s,cp.’88
Cons., 6s, 1 9 2 0 .. ... ... ..
Cons., 5s, 1920— . . . . . . .
Phila. N ew t. A N .Y .—1st
Phil. A R .—1 st,6s, 1910..
2d, 7s, oonp. A reg., 1893
Cons., 7s, reg., 1911 —
Cons., 7s, c o u p - 1 9 1 1 ..
Cons., 6s, g., 1.R.C.1911
Im p., 6s, g., oonp., 1897
Gen., 6s, g., cou p., 1908
Gen., 7s, coup., 190 8 .—.
Incom e, 7s, coup., 1896
Conv. AdJ. Scrip, ’85-89
Cons. 5s, 1st ser.,o.,1922
Cons. 5s, 2d ser.,0., 1933
Debenture coup., 18931
Conv., 7s, R. C., 1893—i
Conv. 7s, cp.off, Jan.,’ 85
Deferred incomes, c p ...
Phil. W il. A B alt.—4s.tr.ct
Pitts. Cin. A St. L.—7s----Pitts. Titus. A B .—7s,op.
Shamokin V. A P otts.—7s
Sanbury A Erie—1st, 7s.
Snub. Haz. A W .—1st, 5s
2d, 68,1938................... .
Sunb.A Lew ist’n 7s.C,.’98
Syr.Gen.A Corn.—1st, 7s.
Tex. A Pao.—1st, 68,1905
Consol., 6s, 1905----Union A T itnsv.—1st, 7s.
U nited N. J.—Cons.6s,’94
Cons. 6s, gold, 1 9 0 1 ....
Cons. 6s, gold, 1 9 0 8 ...
Gen., 4s, gold, 1 9 2 3 ...
W arren A F.—1st, 7s, ’96
W est Chester—Cons. 7s.
W . Jersev—1st, 6s, cp.,’96
1st, 7 s , 1899................ Cons. 6s, 1909.................
W . J ersey A A tl.—1 st,6s,C
W estern Penn.—6s, coup
6s, P. B ., 1 8 9 6 ...............
6s, reg., 1923............. .
C A N A L BON DS.
Ches. A Del.—1st, 6s,1886
Lehigh N av.—4 %s, 1914
M ort. R R ., reg., 1897 .
Cons., 7s, reg., 1911 . . .
Pennsylv.—6s, cp., 1910..
Sohuylk. N av.—lst,6 s,rg
2d, 6s, reg., 1907............
B A L T IM O R E .
10 % 10% B A I L R ’ D STOCKS.tPar
a%
A tlanta A Charlotte...
18
40 %l Baltimore A Ohio ...1 0 0
1st pref...................... .
56
54%' 2d p ref....................... .
Parkersburg Br.........50
49 ^ ......... Central Ohio—Com.......50
P ref............................ .
W estern M arylan d___ 50
60
R A IL R O A D BON DS.
17
Atlanta A Chari.—1st—
34
56% 66%
fn c........ ...........................
Baltim ore A Ohio—4 s...,
66% 67
Con. Ohio.—6s, 1st,M .AS
57®4 58
Oharl. Col. A A ug.—l s t 543»
2d......................................
78
Cin. W ash. A Balt.—le ts
72
74
2ds....................................
5tí%
3ds....................................
27
1st In c., 5s, 1 9 3 1 .......
118
C olum bia* Greenv.—ls ts
2da...................................
20 »4 20%
No. Central—4 %s, J . A J
6s, 1900, A . A O..........
215 215%
6s, goid.1900, J . A J . . .
60% 6034
5s, Series A ...................
48
49
5s, Series B . . . . ............
Pittsb. ACon’ells.—7 sJ AJ
51% 51% Union R B .—lst,g u a .J A J
5*3
6%
Canton e n d o r s e d .......
Virginia A Tenn.—5s . . .
120
8s.......... ......... ................
W. Md.—38,3d,guar.,J. &J
113
V ilm . C. A A u g.—8s.......
........ 2*4
Wil. A W eidou—5 s. . . . . .
¿12 .112
7 « . ....................... .......
116
« Rv.iii viiieml. t Per share, t In default.
New York Local Securities.
Bank Stock L ist.
Bid.
BANKS.
116%
104
106%
113 116%
110
129
99% 110
121
130
117
110
104 106
110%
101% m m
123»4
146 147
136
122
130
113
•••••*
115
106
55%
135 ........
133% 135
126 1.
126%
ii ó %
121 123%
130
99%
104
112
....... 86
12t5*a
....... 114
120
122
122
113
103% *105
102% 102®4
57
6b
45
44
103
70
50
48.
101 %
12.5 125%
35
121
126%
.........
103
99
119
110
97
28
115
97%
29a4
115
.......
.........
in * *
112 113
113
126 ......
106*s
109 110
111% —
90
113
118
85
64
92
168
93
113
133
90
89
55
171
7
50
62
12
10
_
122
104
123
105
105
13%
106
114
115 116%
104 104%
82% 83
46
48
25
n o 110%
90
92
107% 108%
123
122
110%
110%
122%
117%
.........
I2 1 ’
11«»* 120%
111
Bid.
170
140
270
160
125
165
210
2200
127
Oity............... 290
Commerce — 173
Continental. 120
185
125
11th W a r d - 135
Ptfth A v e —. 710
F i r s t ............ 1500
F ra rth ......... 14 :
F a! t o n ......... 151
Ask.
BAN KS.
Bid.
G illatin . . . . 200
165
107
200
112
157
800
138
‘200
163
tCarket......... 160
Æechanios’ . 166
140
136
if Prenants’ . 136
d ’ rch’ ts’ Ex. 106
vCetropolit'n 35
Nassau........ 135
New York .. 205
141
285
178
142
Ask.J
BANKS.
N.Y. Nat. Ex
Ntnth...........
141
171
p tot fio..........
p irk ..............
tepnblio . . .
Sr, N icholas.
7 th W a r d ...
A sl*
Bid.
200
125
13ft
125
125
185
152
170
165
109
135
118
108
230
135
133
160
112
137
125
ShoeA L eath
Stateof N .Y .
......
Phird............
Tradesmen's 104
......... vnlted Si,’ es ........ 200
......
36
Insu rance Stock L is t.
[Quotations b y E . S. B ailey 6% Pin© St.]
C O M P A N ’ S. Bid. Ask.i [COMP A N ’ S. Bid.
A m e r ic a n ... 170
Am er. E xoh. 95
B o w e r y ....... 155
B roa d w a y... 190
180
C itizens’ . . . . 125
C it y .............. 130
120
Commercial. 33
Continental. 230
E a g l e _____ 260
E m pire City 105
E x ch a n g e ... 105
F a rra g u t.... 130
Firem en’ s " . 105
German-Am. 290
G erm a n ia ... 153
G lo b e ........... 115
180
102
165
200
185
130
135
125
36
240
270
116
115
140
no
305
160
120
G reenw ich .. 225
Guardian . . . 80
¡H am ilton .. 130
¡H a n o v e r .... 150
150
Howard . . . . 80
J efferson .... 125
220
K nickerb’k r 100
Long Island 105
Lafaj e t t e .. . 100
M anuPo.A B 125
M echanics’ ■ 90
M ercantile.. 67
M erchants’ . 10!)
M ontauk___ 102
N a s s a u ....... 145
N a tio n a l___ 105
Ask. C O M P A Q ’ S. Bid. Ask.
240
85
140
157
155
85
130
230
no
110
105
135
95
72
115
107
150
115
N. Y . Equit. 166
N. Y . Fire .. 93
N iagara___ 185
North R iv e r 114
165
Park............. 105
Pet’ r Cooper 160
no
Phénix ....... 140
R utger’ s ___ 140
Standard___ n o
S ta r .............. 70
S t e r lin g ___ 70
Stuyvesant lift
United St’ es 147
W estohester 130
Willis n n b ’g. 275
175
10O
170
no
175
no
170
115
155
150
115
95
75
120
155
140
285
G a s a n d C it y R a i l r o a d S to c k s a n d B o n d s .
<
Gas Quotations b y G s o . H. PBKNTiss A C o., Brokers, 49 wail Street.]
G v s C O M P A N IE S .
Brooklyn G a s-L ig h t........
Citizens’ G a s-L ig h t. . . . . . .
Bonds, 5s ........................
Consolidated G a s ..............
Jersey C ity A H ob ok en ...
M etropolitan—B o n d s .......
M utual (N . Y . ) ...................
Bonds, 6s .......................
N tssau (B klyn.).................
S crip ............................. .
P eople’ s (B klyn. 1....... ........
Bid. Ask.
101 105
55
60
100 104
£4% 85
lbO
114
103
102
100
100
53
117
105
103
105
101
GAS C O M P A N IE S.
People’ s (B k lyn )—ads, 6s
W iiilam sim rg....................
Bonds, 6s..........................
M etropolitan (B k lyn .)___
Municipal— Bonds, 7s.......
F ilto n M u n ic ip a l............
Be nil*, 6s ............... . ..
E lm tabi«*............................
Bonds, 6s..........................
A sk .
Bid.
100
120
no
77
105
132
105
no
110
125
114
80
no
135
109
115
113
66
[C ity R R . Q u otations b y H . L . G r a n t , B ro k e r, 1 45 B ro a d w a y .]
Bl’o k e rS t.A F u lt. F.—S tk . 28
ls t mort., 7s, 1900 ....... 112
Br*dway A7t.h a v . — St’k — 210
l s t mort., 5s, 1904 ........ 103
2d mort., 5s, 1914...........
B’way Surface hds.guar..
B ondsguar.,5s. 1905 ...
Brooklyn Cit.v—st.nnk....... 180
l s t mort., 5s, 1902 ......... 106
Bklyn. Crosstown—s to c k . 165
ls t m ort., 7s, 1888 ........ 105
Bushw’k A v. (B kln;—St’k 150
Central Crosstown—S t k - 155
ls t mort., 6s, 1922 ......... 116
Oent. Pk. N.& R. Riv.—Stk
Oonsoi., 7s, 1902 ............ 118
Ohrlst’ph'rAlOt.h St—Stk. 120
Bonds, 7s, 1 8 9 8 .............. n o
Dry Dk. E .B .& Bat.’v—Stk
lst. m ort.. 7 *>, 1893 ......... n o
30
116
¿30
106
105
100
100
190
no
175
108
155
165
120
120
120
130
112%
160
112%
D. D. E. B. A B .— Scrip, 6s
Eighth A v .—Hr,nek............
Scrip, 6s, 1 9 1 4 ............k
42d A 'G r’nd -St. F’rv—St
1st mort., 7s, 893 ........
42dSt. Marih. A St. N.Ave
1st m ort., 6s, 1910 . . . .
103
190
107
210
112
107
ff >ust.W .St.AP.F’ v~Stk. 140
no
l s t mort., 7s, 1894
Second A v.—S tock............
1st m ort., 5s, 1 9 1 0 ........
Consol., 7s 1888 ............
........
S ltth A v’.—sr,0CK
l i t m ort.,7s, 1890 ........
Third A v -—stock ............
Bonds, 7s, 1 8 9 0 .............
Tw -nty-third
—S to c k 1 , t » o r . ,7 s , 1893 ........
107
200
no
225
117
-35
103
48
H i
100
_Tf 180
*105
101
107
i*ió
¿10
105
¿40
112
200
lx o
220
1,06
245
I l ia
Unlisted Securities.—Quotations from both Exchanges:
S E C U R IT IE S .
S E C U R IT IE S .
Am. Bank N ote Co............
Amer. Tel. A Cable..........
A tch .A P ike’s P eak,lst,6s 100 110
95
A ria. A Char. A ir L., stock 85
122 % 123
l s t 7s, 1907 ..............
74%
Bank. A Mer.Tel.ACab. Co 73
17
Host. H . T .A W est.—Stk. 14
Debentures............ .........
B rooklyn E lev’d—stock ■43" *4*8*
i s t m ort............................ 10a 107
80
79
2d m o r t ...............
12
California P acific.............. 10
l s t m ort.. 7s.................... 100
Chic. A A tlantic.—B en ef.
C bic.A Iu d . Coal R ’yC o.,..
84%
P ref ............... - ...............
Ches. AO., ser. B,def. scrip
C’ont. Cons. Inin. Co.......... 15
Des M oines A Ft. Dodge -. 15
P referred.......................... 25
E ast A W est R R . o f A la .. 2.5% 26%
Flint A Pere M arquette— 29
P ref........................ ..........
Georgia P ac.—S tock.........
1st 6s................................. 10b
66
62
2(18— ..................... 6
Kanawha A O h i o . ... ... ...
25*
1st p r e f .. ........................ 24
11 ®4
11
2d p r e f ...........................
77
l s t b s.......................... --- 75
Keely M otor ....................
Lehigh A W ilkes. Coal
M exican State 3s............ —
Mexican N ational . . . . . . .
P re f....................................
l s t m ort------- - ............
Mich. A Ohio—l s t M .bils.
N ew Jersey A N. Y ..........
N. Y . A Green’d Lake, ls t
2d m ort.............................
N. Y . City A N orthern ....
N. Y. W. Sh. A B.—Stock.
N orth. P ac.—Div. hands..
N orth R iv . Cons.—S crip ..
Pensaoola A A tla n t ic ....
l s t m ort............................
P ittsb. A W e s t e r n ..........
l s t m ort............................
Postal Tel. ACab.,when iss
Rome A Decatur, l s t M ..
St. Louis Ft. S. A W icli—
S*. Paul E .A Gr. T r., l s t bs
Tol. A . A. A N. M ............
Utah Central.—ls t, 6 s ....
V icksb. A M eridian..........
P re f................................ . .
l s t m ort............................
2d m ort..............................
In co m e s ..........................
W est N. Car.—1st mort....
1®4
9b
20
19
88
80
85
10
93
85
86%
13
4%
80
95
50
12 %
95
55
Boston Banks.—Following are the totals of the Boston bankf z
IS87.
Loans.
Specie.
L. T ’nders. Deposits.*
Circula’n A gg.C l’n f (
$
$
$
9
$
82,484.685
Jan. 1 142,576.800 10,534,100 3,337,600 107,625,800 13,131,900
13,126,800 fO.977.Orii«
«. 8 144.031.200 11.303.400 2,990,000 108,868,900
“ 15 145.574.200 10.984.400 3,141,700 110,814,700 13,013.700 82,37 b,6uT
Philadelphia Banks.—The totals have been as follows
1887.
Jan.
1. ...
«
8—
»
15.......
Loans.
9
85.998,400
86 334,200
86,335,600
Lawful Mon’y Deposits.*
Circula’n
A gg.C l’ngS.
9
83,995,200
81.050.400
83.905.400
$
4.023.750
4.018.750
4.023.750
$
47,512^438
74,320,154
57.247.827
$
22,113,900
22,210.400
22,806,600
[V ol .
New York City Banks.—The following statement showt the
condition of the Associated Banks of New York City for the
week ending January 15, 1886:.,
Bank».
Loan* and
Discount*.
New Y ork......... 10,600,000
Manhattan O o__
9.823.000
Merchants’ __ ___ 6,162,200
Mechanics’ . . . . . . . 8.586.000
America . . . . . . . . . . U.O02,200
P h e n ix ............
8.022.000
City.....................
7.542.300
Tradesmen’s ......
2.621,200
Fulton. . . . . . . . . . . .
1.293.000
Chemical............ . 19.151.000
Merchants’ Ex oh, 8,601.200
Gallatin National.. 8.271.200
Batchers’ A DroV.. 1.767.900
Mechanics* A Tr..
1.667.000
Greenwich...........
1.106.700
Leather Manul’rs. 8.311.800
Seventh Ward....
1.207.000
State of N. Y......
3.888.300
Amerlo’n Exoh’ge. 15.876.000
Commerce........... I 17,747.600
Broadway.... ....
6.425.600
Mercantile.... a a
6.670.000
Pacific...... . ......
2.612.400
Republic........,H
7.168.900
Chatham. . . . .
4,631,500
1.964.200
Peoples’......... ..
North America..
2.876.400
Hanover............. 10.389.900
2.922.000
Irving........ .
2.683.300
Citizens’ . . .... j
Nassau. . . . . . . .
2.604.800
2.020.000
Market.........
1.978.600
St. Nicholas...
3.368.000
Shoe A Leather..
Corn Exchange.
5.987.200
Continental..........
4.664.000
Oriental............... 2.030.000
Importers’<&Trad. 19.182,800
Park............. .
19.686.900
North River.........
1.038.000
East River..........
1.225.600
Foufth National.. 17,451,300
Central National.. 8.007.000
Second National.. 3.096.000
Ninth National... 5.237.300
First National.... 21.602.900
Third National... 4,903,900
1.338.800
N. Y. Nat. Exoh..
2.466.000
B ow ery......... ■
2.135.400
N. Y. County......
2.678.400
German-Am erlc’n
Chase National... 3.804.700
3.412.700
Fifth Avenue......
German Exoh’nge
2.398.200
Germania............
2.476.800
4.362.800
United States......
2.862.700
Lincoln................
1.672.200
G arfield............
Fifth National.... 1.893.800
3.648.700
B’k of the Metrop
1.787.000
West Side..........
1.946.300
Seaboard.............
1.807.800
Sixth National...
Total............ 848,067,700
Average Amount of—
Deporti*
Legal Net other
Specie.
Teniere. than
Ü. 8.
g
8
2.230.000
2.715.000
1.724.800
2.077.000
2.527.000
, 802,000
4,673,600
379.400
„ 688,800
7.254.100
966.600
678.000
522.600
87,000
120.400
760.100
309.400
702.700
4.295.000
2.787.200
1.066.400
1.703.800
606.200
1.883.200
837.000
843.200
629.000
2.920.000
674.800
1.038.200
396.700
690.800
847.200
606.000
708.000
1.305,900
860.800
5,028,500
5.751.400
165.000
203.800
5.082.100
1.800.000
1.054.000
1.692.800
5.191.200
1.292.400
242.400
381.700
624.100
428.600
1.184.200
724.100
260.000
176.600
1.099.000
650.800
550.100
286,000
640.000
807.000
722.800
606.000
543.400
38,000
344.000
173.500
126.000
1.677,200
177.800
729.700
78.000
218.000
138.200
236.800
90,700
234.600
1.121.000
10.140.000
10.774.000
6.670.800
8.119.000
10.344.100
2.070.000
10.034.000
2.170.200
1.713.100
22.906.100
4.112.800
4.915.100
1.924.300
1.766.000
1.134.300
2.896.000
1.237.400
3.534.900
15.134.000
12,445,800
5.416.100
7.436.700
3.003.400
7.785.200
4.078.300
2.554.000
8.609.500
11,839,500
3.109.000
3.336.200
8.160.700
2.456.200
1.844.200
8.667.000
5.146.000
6.776.100
2.275.100
21.835.000
24,813,400
1.094.000
1.185.600
10.521.000
9.217.000
3.963.000
Circula
tion,
45.000
45.000
263,000
00’0’do
104.800
612,600
225.200
"à'èb'ó
634,700
44,300
937.400
857.400
425.000
168.800
889.600
423.600
135.400
262,800
652.500
264.000
152.200
352.000
130.600
83,900
343.000
253.000
495.700
400.000
1.079.800
1,481,700
171.000
140.800
1.084.800
999.000
147.000
6.122.200
400.000
602.800 21.992.000
6.291.900
263.200
1.206.100
131.600
843.400
2.789.000
2.791,100
191.400
2.470.000
136.400
6.066.900
246,300
3.612.600
162.400
3.100.900
400.000
2.845.300
871.200
4.498.700
91,400
2.005.000
110.500
2.017.800
167,100
1.604.500
186.600
4.919.700
262.600
303,800
2.144.700
1.950.000
143,ICO
224.000
2.168.900
987,100
45.000
45.000
88,088,000 24,070,700,374,187,600
7,872,200
1.201.200
280.600
856.000
336.000
S’i 7,200
45.000
180,000
161,100
45.000
440,700
4*84,600
49Ì50Ó
987*,400
45.000
228*,700
360.000
45.000
44.000
46 000
286,200
202.000
222.500
Specie.
L. Tender».
Deposite.
’¿MOO
45.000
45.000
45.000
134,000
45,000
176,000
Circulation Agg. Clear’gs
•
8
8
8
Dec.31 343,687,600 82,718,100 19,370,400 350.268.600 7,911,600 526,272,256
Jan. 8 348.179,300 85,509,200 21,812.200 370,138,000 7,896,800 808,769,152
“ 15 848,067,700 88,0 38,000 24,070,700 374.187.600 7,372,200 664,616,869
8
RAILROAD EARNINGS.
The latest railroad earnings and the totals from Jan. 1 to
latest date are given below. The statement includes the gross
earnings of all railroads from which returns can be obtained.
R oads.
Latest Earnings Reported.
Week or Mo
Buff.N.Y.A Phil. 2d wk Jan
Buff. Roch. APitt 2d wk Jan
Bur. Ced.R. & No. 1st wk Jan
Cairo V. & Chic. 2d wk Jan
Canadian Pacific 2d wk Jan
Central Iow a... Lst wk Jan
Chic. A Atlantic 2d wk Jan
Chic. A East. 111. 2d wk Jan
Chio.Mil.ASt.P. 2d wk Jan
Chic. & W. Mich. 2d wk Jan
Cin. Ham. A D. 2d wk Jan
Cin.Ind.St.L.AO. 2d wk Jan
Cin. N. O. AT.P. 1st wk Jan
Ala. Gt. South. 1st wk Jan
N. Ori. & N. E. 1st wk Jan
Vicksb. A Mer. 1st wk Jan
Vloks. Sh. AP. 1st wk Jan
Erlanger Syst. 1st wk Jan
Cin.Rtoh. AFt. W. 2d wk Jan
Cin.Wash.& Balt 2d wk Jan
Clev. Akron A Col 2d wk Jan
Col. A Cin. Mid. 2d wk Jan
Denv. A Rio Gr. 2d wk Jan
Des. Mo. A Ft.D. 2d wk Jan
Det.Lans’gA No. 2d wk Jan
E.Tenn.Va.AGa. 1st wk Jan
Evans. AInd’plis
Evansv. A T. H. 2d wk Jan
Flint A P. Marq. lstw k Jan
Gr. Rap. A Ind.. 2d wk Jan
Grand Trunk ... Wk. Jan. 8
Hons. ATex.Cent lstw k Jan
Ind. Bloom. & W. 2d wk Jan
LakeE. A West. 2d wk Jan
Long Island....... 2d wk Jan
Louis.Ev.ASt.L. 2 wks Jan
Louis v. A Nashv. 2d wk Jan
Lou.N.Al.&Cliic. 2d wk Jan
Mar.Hough.A O. 1st wk Jan
Memphis ACbas. 1st wk Jan
♦Mexican Cent’l. 2d wk Jan
MlLL.Sh.dc West. 2d wk Jan
Milwaukee A No 2d wk Jan
* Mexican ourrenoy
1887.
9
40,200
26,883
47,030
12,649
149,000
20,461
29,760
37,849
346,000
17,625
47,980
53,107
46,273
23,454
11,059
9,038
8,436
98,260
6,132
41,555
7.988
5,863
116,450
7,443
14,603
86,418
3,341
12,746
37,584
31.886
282,109
46,011
49,591
27,337
39,389
29,082
283,100
32,505
4,856
36,478
105,000
32,630
14,981
1886.
9
31,600
26,627
34,148
6,426
107,000
18,760
24,037
30,633
313,204
18,170
46,401
46,540
44,125
19,334
10,769
11,532
7,936
93,696
5,598
26,861
7,094
4,482
97,177
5,204
14,465
77,953
9,523
33,110
26,902
244,242
51,809
34,650
16,510
36,844
26,660
197,230
23,401
3,180
30,971
70,872
21,500
9.204
Latest Earnings Reported.
Week or Mol
1886.
1885.
\jan. 1 to Latest Date.
1886.
1885.
$
9
$
Minn.&No.West. (2d wk Jan
13,668
2,788
25,846,
5,782
Miss. & Tenn. .. 1st wk Jan
7,161
...........
7,161
BT. Y. City & No. Wk Jan. 15
9.908
7,700
18,5811
¿6 ,7 5 6
6N.Y. Ont. A W. 2d wk Jan
20,060
18,024
38,585,
36,048
Norfolk A West. 2d wk Jan
68,068
45,575
132,599
96,839
Northern Pacific 2d wk Jan 124,806 110,047
253,9011
217,525
Peoria Dec.&Ev. 2d wk Jan
16,702
8,923
30,2741
17,886
St. Jo. A Gd. Isl. 2d wk Jan
20,410
12,925
41,5451
21,624
St.L.Alton&T.H. 1st wk Jan
22,486
19,632
22,486
19,632
Branches........ 1st wk Jan
11,900
10,674
11,900
10,674
St. L. Ark.ATex. 2d wk Jan
36,256
28,398
69,306¡
56,796
St.L.&San.Fran. 2dw k Jan
79,545
54,949
148,224!
110,476
27,129
13,182
8t.Paul& Duluth 2d wk Jan
54,258
26,364
Tol.& Ohio Cent. 2d wk Jan
19,214
12,268
36,380|
21,994
Wisconsin Cent’l 2d wk Jan
23,264
19,453
45,462
37,430
Min. St.C.A W. 2d wk Jan
5,426
1,920
10,150
4,006
Wis. A Minn.. 2dw k Jan
10,261
2,140
19,24l|
3,956
Atoh. T. A 8. IT. .1November. 1.719,355 1,603,413 14,459,376' 14,318,024
34,056
♦Sonora...........October...
27,410
238,295
249,712
Balt. & Potomac November. 117,393 115,831 1,226,236 1,215,247
Cal. Southern.. - December.
90,408
740,698
31,810
{Camden & Atl ¡November.
30,513
569.693
533,128
Op. F’rA Y ad. Y al lDecember.
20,817
17,865
226,700
205,968
Central Pacific.¡October... 1,508,755 1,480,588 13,307,006 12,297,932
Ohesap. A Ohio. December. 339,300 314,195 4,095,167 3,361,234
Eliz.Lex.AB.S. |December.
79,000
57,732
935,683
706,467
Ohes. O. A S. W. December. 165,500 147,586 1,711,950 1,571,155
Chicago & Alton 4th wk Dec 159,214 158,660 8.035,826 7,993,170
Ohio. Burl. A Q. November. 2,256,340 2,318,053 24,359,977 24,226,452
Chic. & Northw.kth wk Dec 611,100 601,200 25,296,293 24,801,058
0h.8t.P.Min. AO. j4 th wkDec 154,900 130,800 6,152,116 5,814,810
16,009
Cin. J. A Mack.. N ovember
165,432
12,019
118,202
30,500
358,220
Clev. A Canton. |December.
26,483
291,315
Clev.Col.C. A Ind IOct ober... 408,683 362,084' 3,427,536 2,394,356
1 ...........
24,897
Clev. A Marietta October ..I
Col. Hock.V.&T.;December. 243,557 209,416 2,452,027 2,3* i 1,0*04
18,543
Danbury & Nor. November.
218,724
17,313
208,177
90,500
Denv. A R. G. W. ¡December.
74,238 1,051,900 1,021,089
Det.B.CityAAlp. ]November,
28,807
217,480
Fla.Ry.ANav.Co December. 122,022 112,415
44,954
Ft.W. ADen.City December.
444,125
33,361
463,627
Georgia Pacific.. ¡December.
96,409
79,344
845,526
674,306
234,689
200,732 , 2,288,028 1,849,429
Gulf Col. AS. Fe. December.
01.Cent.(111.ASo) December. 1,081,761 1,126,461 !10,745,200 10,942,928
Cedar F.&Min. ¡December.
12,447
15,454
171,500
140,177
* Mexican currency.
l And branches.
6 Figures of earnings for last year have been adjusted so as to make
basis of comparison the same as this year.
180 000
The following are totals for several weeks past:
1886-7
R oads .
XLIY.
Jan. 1 to Latest Date.
1887.
1886.
9
79,000
53,019
47,030
27,029
306,000
20,461
52,738
75,171
691,000
34,602
97,331
100,050
46.273
23,454
11,059
9,038
8,436
98,260
12,205
83,231
16,416
12,041
235,038
12,775
30,231
86,418
6,691
24Í814
37,584
62,945
282,109
46,011
96,104
50,515
84,534
29,082
522,315
58,165
4,856
36,478
191,225
59,055
26.9571
$
71,100
53,254
34,148
13,622
224,000
18,760
48,074
61,955
638.833
36,759
92,802
86,940
44,125
19,334
10,769
11,532
7,936
93,696
10,181
62,427
14,778
9,732
178,157
8,100
28,047
77,953
Latest Earnings Reported.
R o ad s.
Week or Mo
1886.
1885.
Jan. 1 to Latest Date.
1886.
1885.
$
9
9
$
Dab. ASioux C. December.
79.743
87,367
948,3001 911,031
59,054
Ia. Falls & S.C. December.
57,860
635,300
626,528
Tot. Iowa lines December. 151,244 160,681 1,755,200 1,678,336
Total all lines. December. 1,233,005 287,141 12,500.400 12,621,264
55,374
Ind. Deo. & Spr. December.
451,901
43,328
387,991
Jack.Tam.AK.W November.
37,946
10,4711
2 44 ,49 2
96,339
K. C.Ft.S. AGulf. 4th wk Dec
70,505
51,026 2,524,380 2,546,528
52,547
Kan. C. Sp. A M. 4th wk Dec
37,346 1,561,416 1,511,461
San. C.C1. ASp. 4th wk Deo
4,887
235,570
26,25*3
Keokuk & West. October...
29,875
Lehigh&Hudson December.
20.743
19,319; 217,134
180,748
L. Ek.A Ft.Smith November. 104,638
88,108
626,825
541,469
L.Rk.M.R.ATexI November.
57,159
54,894
343,8971 311,300
53,565
Louis. & Mo. Riv October...
56,209
454,789
466,040
Louisv.N.O. AT. November. 241,502 212,046 1,531,407 1,146,592
60,4651 70,308
Lykens Valley. November.
694,459
732,927
Manhattan E l... December. 690,0001 630,000
*Mex.N.,all lines December. 150,105 129,665 1,729, ,113
,511,551
20,332
Mieh. & Ohio... December.
21,867
224, ,064
190,308
Mlnn’ap. A St.L. November. 161,8541 171,555 1.400, ,436| 1 ,584,264
a Mobile A Ohio. December. 306,686! 306,124 2,086, 486| 2,,206,546
Nash. Ch. ASt.L. Deoember. 229,946 193,327 2.400, 771 2 ,134.527
IfN.Y.C.AH.R... December. 2,945,063 2,.310,184 32,651, 015 24;,495,873
cN. Y.L.Erie AW. November. 1,668,6291, 570,693 17,129, 830,14 ,539,488
N. Y. Pa. A O. November, 558,651 502,696 5,716, 952 4 ,627,468
N.Y. A New Eng. November. 347,703 308,210 3,636, 812 3 ,136,914
N.Y.Susq.AWest December
112,545
86,40) 1,129, ,4401 1 ,092,355
Northern Cent’l. November. 493,150 483,594 5,016, ,8081 4;,983,223
Ohio A Miss....... 1st wk Dee
89,493 3,614, 2621 3 ,456,204
83,348
479,035
Ohio Southern.. December
32,839
53,084
508, ,758
Oregon Imp. Co. November, 286,289 235,307 2,735, ,013 2 ,653,766
Oreg. R. A N. Co. December. 401,500 492,450 5,344, ,000 5 ,102,738
Oreg. Short Line October... 162,176 176,833 1,618, ,286 1,499,925
Pennsylvania... November 4,347,21813
3,971,539 45,950, ,852 U ,568,345
Phil a. A Erie__ November. 338,027 309,407 3,407, ,310 3,012,825
Phila. A Reading November. 3,001,522 2,666,4^0 27,934¡ ,875 16,638,014
Do C. A Iron November, 1,887,462 1,605,748 14,501, ,154 L4,615,568
Riohm’d ADanv. December. 335,464 348,132 4,055, ,504 3,971,630
Va.Midl’d Div. Deoember. 121,729 124,160 1,550 ,651 1,556,632
810,906
64.420
So. Car. Div. December.
76,349
776; ,451
Col. A Gr. Div.. December
54,188
75,734
599 ,649 -696,653
476,650
West.No.C.Div December.
40.420
39,574
529, ,041
9,940
Wash.O. A W .. December.
7,726
tRome W. A Ogd. November. 249,606 166,519 2,456,199 1,585,547
St.P.Min. A Man. December. 687,030 686,850 7,393,884 7,521,138
Scioto V alley... November.
61,536
52,742
622,198
6*3¿,7*79
Shenandoah Val November.
71,053
57,765
686,340
South Carolina.. November. 113,609 113,119 1,022,638 1,029,331
So.Pae.Comp’y Gal.Har.A8.A November, 211,975 343,935 2,352 793 2,866,367
G.W.Tex.AP.J November.
8,235
4,684
42 ,489
548',67¿
Louis’a West. November.
57,359
64, *38
578, 627
Morgan’s LAT November. 398,558 465,353 3,658 143 3,683,382
N.Y.T. AMex. November.
15,796
24,751
144 785
8*92,232
91,990
94,917
Tex. A N. Orl. November,
896 014
Tot.At.System November, 783.290 998,502 7 ,6 7 a 825 8,221,776
9,631,129
Tot. Pao. Sys.. November. 2,041,719 1,715,519 21,284 274
Total of all___ November. 2,825,009 2,714,021 28,957 097 7 ,852,902
669,624
Staten Isl’dR.Tr December.
44,592
41,637
799 521
Summit Branch. November, 117,067 110,395
628 ,718| 1 ,285,507
,672,484
Texas A Pacific. December. 769,237 699,237 6,059 370 5
Pol. A. A. AN. M. December.
29,319
41,353
Union Pacific... November 2,351,431 2,382,206 24,260,254 23,371,557
614,755
569,192
49,665
53,179
Valley of Ohio.. December
Wab. St. L. A P. 4th wk Dec 320,219 282,657 12,806,316 11,936,297
{ West Jersey... November.
85,382 1,268,891¡ 1,199,148
95,154
20,597
33,110
50,624
244,242
51,809
76.745
33,515
80,934
26,660
424,255
48,026
3,180
30,971
a For purposes of comparison, St. Louis A Cairo, now operated by
134,734 the Mobile A Ohio, is included in both years from and after July 1.
39,050
e Not including earnings o f New York Pennsylvania A Onio.
17,702
ITIncluding West Shore in 1886*
* Mexican currency*
1 And Branches.
THE CHRONICLE.
J a n u a r y 22, 1887. J
117
Announcement is made of the arrangement entered into be
tween the Lehigh Valley and the Pennsylvania, by which the
trains of the former run into Pottsville. It is also stated that
the management of the Southern Central Railway Company
S u t je l l i f l e u jc je .
of New York has been undertaken by the Lehigh Valley. The
latter company owns a large amount of the securities of the
The I nvestors ’ Supplement contains a complete exhibit of company, and expects to obtain better results by combined in,
the Funded Debt of States and Cities and of the Stocks and preference to independent management.
Bonds o f Railroads and other Companies. It is published
The income account,for the year was as follows :
on the last Saturday o f every other month—viz., February,
INCOME ACCOUNT.
April, June, August, October and December, and is fu r
„
. .
1883-84.
1884-85.
1885-80.
nished without extra charge to all regular subscribers of the
Receipts—
$
$
$
C hronicle . Extra copies are sold to subscribers o f the Total Met income.................................... 4,940,278 4,400,263 4,101,985
Disbursements—
.
$
$
$
C hronicle at 50 cents each, and to others at $1 per copy.
I t t t t je s t m je t x t
AND
AN N U A L R E P O R T S.
Colorado Central Consolidated Mining Company.
(For the year ending October 81, 1886.)
The annual report of the President, Mr. Paul Lichtenstein,
read at the annual meeting, contained the following remarks :
11Although th9 total amount of precious metal extracted was
only 1,262 tons as against 1,391 during the previous year, its
grade has considerably improved, having risen from 202 oz.
per ton to 260 oz. per ton, an increase in value of nearly 28%
per cent, thus showing clearly that, if anything, the quality
of the ore is improving by the gaining of depth. Unfortun
ately the continued heavy decline in the price of silver during
the summer, silver having been quoted as low as 91 cents per
ounce, the company has not derived the full benefit of the
higher grade of ore. While last year—when silver had already
considerably declined—the average net price per ton of 202 oz.
obtained was $176 66, or equal to 87*455 cents per oz., this year
the average net value realized out of a ton of 260 oz. was only
$225*77, or equal to 86*835 cents per oz. In accordance with
the policy outlined at the last annual meeting as advisable to
be followed, your board of directors has allowed the reserve
fund to reach the sum of $100,000, and after paying Mr. Geo.
W. Hall’s old claim of $10,000, as authorized at the last annual
meeting, erecting new plant, including a powerful air-com
pressor and paying seven dividends amounting to $98,750,
there remains in the hands of the Treasurer (including the
reserve fund) the sum of $118,414 44.
The annual income account is thus stated :
Balance In treasury................................................... $84,074
Output.......................................................................... 279,173
interest on deposits and U. 8. bonds.......................
1,423
Dividends on treasury stock..................
2,880
- _ .
Paid lessees, for labor and supplies.......................... 111,621
10,212
Permanent improvements........................................
Office expenses, printing and salaries.....................
16,500
Legal expenses and litigations........... ....................
1,192
860
Taxes and miscellaneous expenses..........................
G. W. Hall’s claim....................
10,000
Dividends paid...........................................................
98,750
-------------
$367 452
*
249,137
Balance in treasury................................................................. $118 414
Cleveland Sc Canton Railroad.
(For the year ending Dec. 31,1886.)
The affairs of this reorganized company having more than
ordinary interest, and the details of its late history and present
ituation being unknown to many readers, the President’s
geport is published at length on a subsequent page.
The statement of earnings and expenses in 1886 as compared
with 1885 is as follows :
_
.
1886.
Gross earnmgs......................................$358,219
Operating expen., including salaries,
taxes and insurance.......................... 281,510
Net earnings...................................
$76,679
1885.
$291,916
Increase.
$66,302
258,748
22,791
$33,167
$43,510
For the last six months of the year ending with Dec. 31 the
earnings were relatively much better, and the gross earnings
were $197,312, operating expenses and taxes, $154,551 ; net
earnings, $42,960, the figures for the month of December
being approximated. Full particulars will be found in the
report on another page.
Lehigh Valley Railroad.
(For the year ending November 30, 1886.)
At the annual meeting the President’s report was read, but
no official copy has yet been obtainable. The report stated
that the anthracite coal tonnage for the fiscal year ending
November 30 was 6,656,474 tons, and the bituminous
45,262 tons, a total of 6,701,736 tons. In 1885 the total coal
tonnage was 6,312,430, and in 1884 6,068,967, while the largest
tonnage in the previous history of the company was 6,592 646
tons in 1883.
In the general expenses were included ¡State taxes, loss on
Morris Canal and estimated depreciation. The capital account
at the end of the fiscal year showed, preferred stock, $106 300*
common stock, $33,112,800 ; bonded debt, $25,458,000. On De
cember 1 there were drawn for payment 201 consolidated six
per cent sterling bonds of $ 1,000 each, reducing the bonded
debt by that amount.
During the year $460,000 was expended upon the construetion account for building the Hazleton & Delaware branch
new equipment, &c. The Company purchased $200,000 of thè
first mortgage bonds of the Carthage & Adirondack Railroad
Company to enable that company to complete its line into the
iron ore region of the Adirondack. This will furnish tonnage
for the Lehigh Valley for a three hundred mile haul.
Interest on debt................................... 2,057,207
General taxes, floating interest, loss
on Morris Canal and depreciation..
473,355
Dividends'...................................
2,372,242
2,059,541 2 048,201
Total disbursements.....................
Balance, surplus..................................
4,370,160 4,061,735
30,103
40,250
4,902,804
37,474
659,385 682,003
1,660,234 1,331,531
* In 1884,10 on preferred and 8 on oommon; in 1885,10 on preferred
and 5 on common; in 1886,10 on preferred and 4 on oommon.
G E N E R A L IN V E S T M E N T N E W S .
Cameron Coal.—The Farmers’ Loan & Trust Company,
the trustee, gives notice that it has canceled all the old mort
gage bonds of this company.
Central Iowa.—The January coupons of the first mortgage
sevens of the Central Iowa Railroad Company have not been
paid. _Boston advices state that the company has failed to
earn its interest, but some of the bondholders claim that the
interest on the bonds was earned by the main line, but that
part of the money was diverted to pay interest on branch line
bonds.
Chicago Milwaukee & St. Paul.—The income bonds of
1886 are payable in currency and have a sinking fund of 4 per
cent beginning January, 1889, which is applicable to the pur
chase of bond at 105; and if they are not purchased at that
price thev may be drawn and paid at 105* The bonds are
convertible into common stock at par within 60 days after
any dividend day. The company agrees at any.time after Jan.
1, 1889, at the request of a majority of outstanding bonds, to
execute a mortgage covering the company’s line from Chicago
to Kansas City, including the bridge over the Missouri River at
Kansas City and terminal facilities in that city.
If a 2d
mortgage should be placed on any part of the company’s road
the property above named shall be secured for the benefit of
income-bond holders,
Columbus Hocking Valley & Toledo—Mr.Greene, VicePresident and General Manager of the Columbus Hocking
Valley & Toledo Railroad, after consultation with President
Shaw, furnished the following statement for the Associated
Press: “ The rumor about a shortage in the Columbus Hock
ing Valley & Toledo Railway account is false.” Mr. Humfreville ,of the company, said: “ There is not a word of truth
)n the report of any alleged unauthorized bond issue. There
is none and there has not been any.”
Denver Sc Rio Grande.—The board of directors of this
company have unanimously resolved that it will be greatly to
the interests of the company to construct the proposed lines
from Red Cliff to Aspen via Glen wood Springs (with a branch
to the coal fields) about 130 miles, and from Montrose to a
point near Ouray about 31 miles. Much money has already
been expended on these lines by the old company, and this
expenditure (as well as valuable rights of way and privileges)
will be lost if the construction be not carried on promptly.
This will require the issue of the first consolidated 4 per cent
gold bonds reserved in the treasury for this and similar pur
poses, at the rate of $20,000 per mile of the new road, as pro
vided in Article I. of the consolidated mortgage. A form of
assent has been forwarded to the registered holders of pre
ferred stock for them to authorize under date of Feb. 15 the
issue of the required bonds, and they will, no doubt, return
their assents promptly.
Des Moines Sc Fort Dodge.—Following is a statement of
the earnings of this road as specially obtained by the C h r o n i
c le :
--------December.— .— .
„
.
„1886.
1885.
Gross earnings............... $35,537
$35,000
Operating expenses...
21,322
17,197
Net earnings..........
$14,215
$17,803
,------------Year._____ —.
1886.
1885.
$339,610
$382.420
252,215
262)001
$87,395
$120,419
Flint Sc Pere Marquette.—In the United States Court at
Detroit the common stockholders of the Flint & Pere Mar
quette Railroad have brought suit against the company. It is
claimed that the reorganization of 1880 was illegal, and that
since that time the road has been rum in the interest of the
holders of preferred stock.
Fort Worth & Western.—A dispatch from Fort Worth
says that there will be a meeting of the stockholders of the
Fort Worth & Western Railway at Fort Worth, on Saturday,
March 19, for the purpose of authorizing the issuance of a first
mortgage on the corporate property and franchises or the com
pany to secure the payment of the bonds to be issued running
forty years fronvtlieir date, drawing interest at the rate of ©
per cent per annum in gold, and limited in amount to $15,000
per mile of railway, which indebtedness is necessary for the
construction, equipment, completion and operation of the
118
THE CHRONICLE
[V ol. XL1V.
road. The directors are nearly all New York capitalists—H. ling for each common share. This will require $7,750,000
W. Slocum, W. W . Lawrence, Calvin E. Brcadhead, George of Central Pacific stock, as there are $12,000,000 of Oregon &
H. Sheldon, E. A. Morse, R. M. Winne, W. F. Lake, B. B. California preferred and $7,000,000 Oregon & California com
mon stock. At the Southern Pacific office it is said that the
Haddock and Daniel Butterfield.
Illinois Central.—At Chicago, Jan. 18. a special meeting announcement is premature, the transaction not yet having
■of the stockholders of the Illinois Central Railroad Company been definitely closed.
—Mr. Huntington is reported as saying to a reporter that
was held for the purpose of increasing the capital stock of the
company from $29,000,000 to $30,000,000. Shareholders regis “ the purchase of the Oregon & California will not involve
tered Jan. 8 have the right to subscribe for the new stock at the issue of any new Central Pacific stock. The amount of
the price of $136 per share, none to be disposed of at a less Central Pacific stock now outstanding is $100,000,000. Some
price. The proceeds are to be applied to the payment of of this outstanding stock not in the treasury will be used to
$500,000 for elevator property at Chicago, and for double buy the Oregon & California road. The payment of the cash
is mostly provided for by the Haes]party.”
tracking the line to Kankakee, and buying car equipment.
Oregon & Trans-Continental.—A statement of the assets
Lake Erie & Western.—At the close of business on Satur
day, Jan. 22. when the time expired for depositing securities and liabilities of the Oregon & Trans-Continental Company on
for the reorganization of the Lake Erie & western Railway, January 10, 1887, has been issued. It shows total assets of
the following had been received by the Central Trust Com $22,873,193, liabilities $7,137,500, net assets $15.735,693. The
pany: 75,000 shares of stock out of a total issue of 77,200 details vary but little from those published in the C h r o n ic l e
chares; $989,000 of Lafayette Bloomington & Muncie income of May 29, on p. 664.
Pacific Railroad Debts.—Mr. Manning has written the
bonds out of a total issue of $1,000,000; $1,479,000 of Lake
Erie & Western incomes out of a total of $1,485,000; $5 0,000 following reply to the Senate resolution of Jan. 6, calling upon
Sandusky division bonds out of a total of $580,000 and all the him for information as to the sums of money owing to the
first mortgage bonds of all the divisions. The foreclosure sale United States by the Pacific railroad companies:
having been confirmed, this large deposit of securities under the
T reasury Department, Washington, D. C., Jan. 17.
plan issued by Gen. Thomas and Mr. Nelson Robinson ensures 'President o f the Senate pro tern.
S i r : I am in receipt of Senate resolution of Jan. 6,1887, calling on
the reorganization of the company accordingly. Mr. Thomas
Department for information as to the sums of money which were
gives notice to first mortgage bondholders to present their this
owing to the United States by the bond subsidized Pacific railroad com
bonds on Jan 25 at the Central Trust Co. and receive pay panies, respectively, on the 1st day of January, 1887. with details of all
payments made on account of the same, together with the sums which
ment in full.
are due and to become due, principal and interest, under existing law,
Michigan & Ohio.—This company is to be reorganized and severally and collectively from said companies, and what difference
will consolidate with the Cincinnati Jackson & Mackinaw. will result to the Treasury if Senate bill No. 1,200 should become a law.
In reply thereto I have the honor to state that the amount due from
The latter is an incompleted road from Franklin, Ohio, north the
several Pacific railroad companies for interest paid by the
to Eaton, and projected to extend 70 miles north to Jackson United
States to Jan. 1, 1887. on subsidy bonds issued to said
on the Michigan & Ohio. A syndicate has been formed to companies, was $70,854,325 62, of which there had been repaid
buy the Cincinnati Jackson & Mackinaw after its completion. by the companies at that date the'sum of $21,552,144 14, leaving due
account of interest the sum of $49,302,181 48. There will be due on
The syndicate will then issue new securities, a first 5 per cent on
the same account at maturity of the subsidy bonds September 11.1897,
50 year mortgage at the rate of $10,000 per mile, with $30,000 the further sum of $43,406,921 83, making a total of $92,709,103 36
of common and $30,000 of preferred stock. The issue of due and to become due on account of interest. There is also to become
due on account of principal of these bonds at maturity the sum of
bonds will be $3,400,000.—JR. R. Gazette.
$64,623,512, making an aggregate indebtedness due and to become due
Nashville Chattanooga & St. Louis.—The gross and net of $157,332,615 36.
In regard to the inquiry as to what difference will result to the Treas
oarnings for December and for six months of the fiscal year ury
if the Senate bill No. 1,200 should become a law, it may be stated
were as below :
that the special method prescribed by the bill for obtaining the con
,-------December.------- >r-July 1 to Dec. 31, 6 mo.—s
1885.
1885.
r1886.
i t
m r
1886.
$193,327 $1,319,969 $1,107,309
659,251
118,515
132,612
766,356
Operating expenses..
Gross o«Tilings......... $229,946
Net earnings__
Interest and taxes.
Improvements........
$97,334
01,421
4,568
$74,812
56,543
6,392
$553,613
355,586
35,578
$446,068
338,015
28,983
$65,989
$31,345
$62,935
$11,877
$391,164
$162,449
$368,998
$81,060
N. Y. Chicago & St. Louis (Nickel Plate).—The proposed
terms of adjustment for this company have not been officially
announced, and Mr. Depew is reported as saying that nothing
new has been settled. According to the Street reports
accepted as approximately correct, the Lake Shore is to guar
antee a new fifty-year 4 per cent first mortgage bond of the
Nickel Plate to the amount of $20,000,000, the proceeds of
which will pay the $15,000,000 of present first mortgage bonds
at par and accrued interest; also the outstanding $2,000,000 of
second mortgage bonds, which were originally turned over to
the Lake Shore for security of the floating debt of from
$1,000,000 to $2,000,000. There are also $4,000,000 of equipment
bonds outstanding, which are secured on the equipment, and
which will necessarily have to be paid. The Nickel Plate,
according to this statement, is to be reorganized, the stocks
reduced one-half, to $11,000,000 of preferred and $14,000,000 of
the common, both of which are to be assessed for an amount
necessary to purchase needed equipment and put the road in
repair. Ocher variations of the reported terms say that the
first mortgage bonds will receive $12,000,000 of the new 4 per
cents and the balance in cash ; also that the amount raised by
assessment on the stock will be $5,000,000.
N. Y. Stock Exchange.—The Wheeling & Lake Erie Rail
way Company asks the Stock Exchange to list its $3,000,000
first mortgage bonds and 36,000 shares of capital stock.
Northern of New Jersey.—The report of the Northern
Railroad of New Jersey, leased to the New York Lake Erie &
Western, as submitted to the State Railroad Commissioners
for the year ended Sept. 30, shows: Gross, $322,216; operations,
$241,806; other income, $8,593;] charges, $89,265; net income,
$49,738; dividends, $40,000; sinking fund, $10,000; surplus
September 30, 1885, $20,914; surplus September 30, 1886,
$20,652; casb, $18,100.
Oregon & California.—It is reported now that Mr. C. P
Huntington has obtained control of the Oregon & California
Railroad by the conclusion of a definite contract between Mr,
Andrew Haes, acting for the London committee cf bond
bolders, and Mr. Huntington, on behalf of the Southern
Pacific Company and the Pacific Improvement Company
The negotiations for the sale have been pending for a long
time past. By the terms of the agreement, as reported, the
Oregon & California first mortgage bondholders are to receive
a new 5 per cent bond at par, guaranteed by the Southern
Pacific, and £4 sterling in cash for baca interest. The pre
ferred stockholders will receive one share of Central Pacific
stock for every two shares of their own stock, together with
four shillings sterling for each preferred share, and the com
mon stock holders will get one Central Pacifio share for every
four of their own shares, together with three shillings ster
stant annual payment is one which, while proposing to find a constant
semi-annual payment adequate to extinquish both principal and inter
est of the indebtedness of the companies, is insufficient to cancel even
the interest, being sufficient to provide for the payment of only eleventwelfths of the interest. The present worth of the indebtedness of the
companies on October 1, 1886, ascertained as prescribed in the bill, is
$110,978,100 28, the semi-annual interest on which, computed at 3 per
cent per annum is $1,664,671 50, while the constant semi-annual pay
ment required to be made under the provisions of the bill is $1,5 25,948 89. The constant semi-annual payment, or bond of indebtedness,
required to caucel the indebtedness above mentioned ($110,978,100 28)
principal and interest in 80 years, computed at the rate of 3 per cent
per annum, reinvested semi-annually, is $1,834,063 98.
A careful analysis of the subject has been made by Mr. E. B. Elliott,
the Government Actuary, to whose report, herewith transmitted, the
attention of the Senate is invited for further particulars. Tabulated
statements showing the amounts due and to become due from each of
said companies respectively, together with the details of all payments
made on account of the same, are also transmitted herewith.
In conclusion I may add that section 8 of the act of May 7,1878.
establishing a sinking fund for the Union and Central Pacifio railroad
companies, commonly known as the “ Thurman act,” provides “ that
said sinking fund, so establislied„shall, according to tbe interest and
proportion of said companies respectively therein, be held for the pro
tection, security and benefit of the lawful and first holders of any
mortgages or lien debts of such companies respectively, lawfully, para
mount to the rights of the United States, and for the claims of other
creditors, if any, lawfully chargeable upon the funds so required to be
paid into said sinking fund, according to their respective lawful priori
ties as well as for the United States, according to the principle of equity,
to the end that all persons having any claim upon said sinking fond may
be entitled thereto in due order.” In view of this provision of law. it
may be proper to oonsider whether the sinking fund now held in trust
by the Government should be treated as an offset in determining the
indebtedness due the Government from the railroad company mentioned
as is required by section 1, first paragraph, of Senate bill No. 1,200 now
under consideration.
D a n ie l Ma n n in g ,
Secretary of the Treasury.
To a part of Mr. Outhwaite’s inquiry in the House of Repre
sentatives—that in which he asked for the sums of money
which were owing to the United States on the 1st day gf Jan
uary, 1887, the Herald dispatch from Washington gives the
following figures:
in t e r e s t d u e .
Interest Paid
by U. S.
Central P acific........ $28,111,876
Kansas Pacific.......... 7,263,873
Union Pacific............ 29,860,422
Cen. Brch. Un. Pao.. 1,837,808
Western Pacific-....... 2,022,949
Sioux City & Pacifio. 1,757,395
Totals...............$70,854,325
Repaid by Com- Balance Interest
Due IT. 8panies.
$22,060,874
$ >,051,002
3,796,867
3,467,005
18,240,180
11,614,242
1.553,785
284,022
2,013,582
9,367
1,630,891
126,503
$21,552,144
$49,502,181
Total Ini. Due é to
Become Dxie.
$39,735,451
7,721,937
36,501,593
2,542,5e5
3,453,102
2,754,431
Principal to
Become Due.
$¿5.885,120
6.303.000
27,236,512
1.600.000
1,970.560
1,628,320
$92,709,103
$64,623,512
INTEREST AND PRINCIPAL.
Interest to Be
come Due.
Central Pacific......$17,674,577
Kansas Pacific........ 3,925,070
Union Pacifio.......... 18,255,413
Cen. Brch. Un. Pac.
983,800
Western Pacific......
1,439,520
Sioux City & Pacific 1,123,540
Totals........ .........$43,406,921
Pittsburg Junction.—This company owns a line across
Pittsburg, Pa., 4% miles long, with a branch 1% miles long.
It was built to connect the Baltimore & Ohio with the Pitts
burg & Western, and also with a number of factories and fur
naces. The report is for the year ending Dec. 31. The earn
ings for the year were as follows :
J an u a r y 22, 1887.]
THE CHRONICLE.
1886.
Earnings.................................................................... $176,000
Expenses..................................................................
35,910
LUT
1885.
$11«,008
15,333
Rome Watertown & Ogdensburg.—The directors have de
clared a dividend of 2% per cent, payable Feb. 15, 1887. The
following are the earnings for three months ending Dec. 81.
Net earnings......................................................$140,090
$100,675 1885 and 1886:
1885.
*
1886.
Increase.
Interest and other charges amounted to $105,649 and divi
Earnings.......................................
$782,243
$505,030
$278,812
dends on preferred stock to $33,500; atotal of $139,149, leaving Expenses....................................
398,137
287,477
110,659
a surplus of $941 for the year.—Railroad Qazete.
$216,552
Net................................................... $384,106
$167,553
Portland & Ogdensburg.—The annual meeting of the Income from other sources.............
7,914
7,455
459
Portland & Ogdensburg Railroad Company (which is the old
.
..............
$392,020
Total
income.
$224,008
$169,012
corporation), held at Portland, passed the following vote Fixed charges, rentals and taxes___ 255,571
157.938
97,612
unanimously :
Toted, Tliat the ¡[President be, and hereby is, authorized to execute
and deliver, in the name and in behalf of the Portland & Ogdensburg
Railroad Company, a deed releasing and conveying all right, title and
interest of this corporate property, real and personal, of every kind
and description, to the Portland & Ogdensburg Railway Company, and
that said deed be in the substantial form herewith submitted.
The choice of directors was passed by and the old board
hold till their successors are elected. Then the meeting of
the Portland & Ogdensburg Railway, which is the new corpo
ration, was held. The whole number of votes, 23,241, were
cast for the following directors: Samuel J. Anderson, Horatio'
N. Jose, Weston F. Milliken, Charles H. Amsden, Stephen R.
Small, Francis Fessenden, Frederick N. Dow, Willard H.
Woodbury, Sidney W. Thaxter, Charles J. Chapman. The
road was reported to be in good condition, many improve
ments and repairs having been made during the year.
The earnings for the year ending Sept. 30 were as follows:
1885-86.
Earnings................................................................. $361,376
Expenses................................................................ 239,594
Net earnings.................................................... $121,782
1884-85.
$361,993
262,836
$99,157
Richmond & Alleghany.—A circular recently issued by the
committee to those who signed the agreement of reorganiza
tion said that by reason of the insufficient earnings of the
road they were unable to see how the agreement for reorgan
ization could be carried out and the interest on the proposed
new first mortgage bonds paid on the first day of July next.
The aggregate of receivers’ certificates is $493,717,car trust cer
tificates $376,000, and other liens $157,000, making in all $1.026,717, an amount involving an annual first charge of about
$60,000. The committee earnestly recommends that the exist
ing agreement for reorganization shall be modified as follows:
1. The new first mortgage bonds shall be issued minus coupons
for the years 1887 and 1888. 2. For the coupons so withheld,
holders of said bonds shall receive an equal amount of the
preferred stock of the new company; and to provide for the
same an assessment of ten per cent in kind upon the entire
amount of the new preferred stock shall be made and become
a part of the said agreement. The assessment already paid to
the committee by the holders of the old common stock, about
one hundred thousand dollars, is to be applied as provided for
in the existing agreement. Whatever may be the net earn
ings of the reorganized road for the years 1887 and 1888 will
be applicable and applied to the extinguishment of receivers’
certificates and other prior indebtedness. On the basis of
present earnings, those of 1887 and 1888 will probably pay
about $300,000 of receivers’ certificates and make the $990,000
of preferred stock, which will be in the treasury of the com
pany, an available asset. 1
Under this alteration and amendment, the preferred stock
of the reorganized company will be issued as follows:
Net income..............................
$136,449
$66,050
$70,399
Only $90,000 of the income bonds of the company are out
standing, and in accordance with tho terms of the mortgagesecuring them, the directors have given notice that they have
decided to retire them.
Texas & Pacific.—Application will be mode next week te
the U. S. Circuit Court at New Orleans for the foreclosure of the
various divisional mortgages that are in default. This is in
accordance with the reconstruction plan, and has been ordered
by the Reorganization Committee. At the same time applica
tion will also be made for an order on the Tex. & Pao. Railway
receivers for the payment of all interest in arrears on the first
mortgage bonds of the company, the amount of bonds out
standing being $3,784,000. The March, 1886, interest was
bought by the Fidelity Trust Company, and the September
interest has not yet been paid.
Troy <fe Boston—Fitchburg.—At the annual meeting of
the Troy & Boston Railroad Company, held in Troy, several
Vanderbilt parties were chosen directors and President Robin
son was re-elected President. The Troy Telegram, in com
menting upon the proposed consolidation of the Troy & Boston
and Fitchburg roads, says: “ While there is no longer any
doubt as to the consolidation, it is still a fact that the arrange
ments have not yet been entirely completed. This is due to a
certain hesitancy on the part of the first mortgage bondhold
ers of the Troy & Boston Company to exchange their securities
for those offered them. John B. Gale, a heavy bondholder,
and one of the trustees of the first mortgage bonds of the Troy
tic Boston Company, is understood to be opposed to the con
summation of the scheme as offered by the company.” * * *
“ The Fitchburg road agrees to take the Troy tic Boston if it is
handed over clear of incumbrance, or it wiil exchange Fitch
burg four per cent bonds for the bonds of the Troy & Boston
road.”
Wabash St. Louis & Pacific.—James F. Joy, Thomas H.
Hubbard, Edgar T. Welles and O. D. Ashley, the purchasing
committee of the bondholders of the Wabash St. Louis tic
Pacific Railroad Company, have called on the holders of stock,
general mortgage bonds and collateral trust bonds of that com
pany for some expression of opinion as to the advisability of
paying an additional million of dollars to the Circuit Court for
the Eastern District of Missouri and taking the property west
of the Mississippi River out of the hands of its present receivers.
The committee paid $625,000 to the Court after the sale, and
is strongly in favor of regaining the control of the property
west of the Mississippi. The Court has ordered the $1,000,000to be paid within sixty days from December 31.
—The thirty-seventh annual statement of the Manhattan
Life Insurance Company is published in this issue of thè
C hronicle . Under its new President, Mr. James M. McLean,
the Manhattan continues to sustain its long record of pros
Total 100 per cent, o r . . . . . ....... ............................................$5,000,000
perity, having during the last year participated in the general
Richmond & West Point Terminal—East Tenn. Ya. & business improvement of the country, and showing a substan
Georgia.—The terms of agreement made between these tial gain in all directions. With a surplus of nearly $3,750,companies, as reported in the press, are substantially as 000 as regards policy-holders, the Manhattan has surely the
follows: That the directors of the Richmond Terminal best possible guarantee for a prosperous and satisfactory
have authorized the purchase of 60,000 shares of East future.
Tennessee 1st preferred stock at par, to be paid for with
—Messrs. Poor & Greenough issue a summary of railroad
$4,400,000 in cash and 40,000 shares of the new ter construction in 1886. The total mileage built is stated as 8,648
minal stock at 40. Then the capital stock of the Ter miles—in New England, 41 miles; the Middle States, 374; in
minal company is to be increased to $40,000,000, and out Central Northern States, 1,231; South Atlantic group, 1,018!;
of the new issue they will give to the Richmond tic Mississippi Valley, 839; Southwestern States, 2,427; Northwest
Danville 100,000 shares for the outstanding 25,000 shares of ern States, 2,578, and Pacific States, 637 miles. The total
the Danville stock. Richmond Terminal will issue $8,500,000 mileage in the United States is now placed by them at 137,615
10-year 6 per cent collateral trust bonds, a syndicate taking j miles.
them. The money is used to pay the Bryce and Thomas syndi
—Messrs. John H. Davis & Co., 10 Wall Street, are offering
cate the $4,400,000 cash for control of East Tennessee first
preferred and to retire all floating debts. Then the company for sale a small amount of the 50-year first mortgage bonds of
will issue $14,000,000 of common stock, $4,000,000 of it to the the Minneapolis & Pacific Railroad. A circular and map of
Bryce and Thomas syndicate. The remaining $10,000,000 will tie road are issued by Messrs. Davis & Co., and they stroDgly
be given to holders of outstanding Ricbmoad tic Danville recommend the bonds.
—Mr. Joseph J. Martin, of 10 State Street, Boston, has issued
Btock, four shares of Terminal for one of Richmond & Danville.
On Friday the Times reported: “ The Terminal directors his excellent pamphlet, entitled “ Stock Fluctuations.” This
annual
is a standard work, and ought to be in the hands of
will hold a meeting shortly and make places in their Board for
Calvin S. Brice, Samuel Thomas and George S. Scott, as repre every person at all interested in stocks and bonds sold in the
sentatives of the East Tennessee and Richmond and Danville Boston market.
interests. It was announced also that the collateral trust loan
—The Ontario Silver Mining Company has declared its 128th
for $8,500,000, from which the Terminal Company will make dividend, being 50 cents per share (or $75,000), for December,
its cash payment of $4,400,000 for the control, had been taken payable at the transfer agency of Messrs. Lounsbery & Co., 15
by the First National Bank in behalf of a syndicate formed Broad Street, on the 31st inst.
some time ago for the purpose. Besides the bank, the syndi
—The Homestake Mining Company has declared its 102d
cate comprises Messrs. Brice and Thomas, who take two mil dividend (for December), payable at the transfer agency o f
lions of the bonds; John H. Inman and John D. Rockefeller, Messrs. Lounsbery & Co., Mills Building, on the 25th inst.
one million each; George S. Scott and Moore & Schley,
—Mr. John B. Manning, of 14 Wall Street, issues on a card
$500,000 each, and some others. The price at which the bonds
5vere taken was not made public, but it is understood that they a neat statement of the book values and dividends of New
York bank stocks on January 1, 1887.
*ill be placed on the market at about par.”
To holders of old first mortgage bonds. 37 per cent, or.......... $1,850,000
To holders of old second mortgage bonds,43 2-10 percent, or 2,160,000
Leaving in the treasury of the new Co. 19 8-10 per cent, or.
99i>,000
120
THE CHRONICLE.
^ tp o x ts
a m i
g D J tt tm je n ts .
CLEVELAND & CANTON RAILROAD.
DIRECTORS’ REPORT TO THE STOCKHOLDERS FOR THE YEAR
ENDING DECEMBER 81, 1886.
G en t l em e n :—It is now eighteen months since your read left
[V o l .
x l iv
.
your directors did not feel justified in assuming, and which, as
a matter of fact, they have never paid, and the receiver’s certifi
cates issued in payment of such rentals before the property
came into the hands of your directors have not yet been paid,
and are still in the nature of a lien against your company.
We have always desired, and still desire, to have a settlement
with the owners of the Terminal and Equipment Trusts and
decide what amount we shall pay—how to pay it and
reduce the rate of interest—and thought we had an
equitable plan to do this last spring. By the terms of that
plan, we intended to settle with the Terminal and Boston
Car Trust Associations at par and with the Boston Equipment
Company at about 75 per cent—giving in payment the 5 per
cent notes of the company, redeemable at any time within five
years, namely:—for each $1,000 of debt we gave a note for $800
and ten shares of preferred stock (the market price was then
$19 to $21 a share). After we had settled with about onethird of the owners of the trusts and saved to the company
$31 a day in interest, we were stopped by an injunction from
certain stockholders. Had we been permitted to complete
this exchange, it would have made a saving to the company of
over $75 a day. Deposited with the three trusts is nearly
$1,000,000 par value of our preferred stock (actual amount
$956,900), which is held as security for the settlement of their
claims against us. These are liable to be pressed for payment
at any time, and complications arise which in the present
condition of affairs might cause the company considerable
loss. It is but fair to the owners of these trusts, and justice
to ourselves, that these matters should be settled, for they
have rights which we cannot afford, nor do we think it right,
to disregard.
What we want is a fair settlement with a reasonable rate of
interest to be paid regularly, even if we remain a narrowgauge
Last January we established a coal tariff giving equal rates
and facilities to all shippers located upon our line. It has
resulted in largely increasing the tonnage as well as the gross
earnings from the transportation of coal. Our road has a fair
passenger business, having earned $108,000 gross in the last
twelve months, and the increase is about 5 per cent a year ; we
do not expect a change of gauge would increase this business
very much.
We conclude this part of our report with a statement of the
results of the operation of the road during the past year, and
a comparison with the results for the preceding year (1885),
and in this connection we wish to call your attention again to
our last report (six months ending Dec. 81, 1885), in which,
among other things, we gave our estimates of what it was pos
sible to accomplish in the way of an increase in business and
earnings for the year 1886. The earnings are as follows:
the hands of a receiver and came back to your own manage
ment. At that time its treasury was empty, its credit gone,
and it was heavily in debt. The gross earnings were but very
little in excess of the operating expenses. The outlook was in
the highest degree discouraging, and to add to the natural
difficulties of the management, useless quarrels and conten
tions were fomented among the stockholders, at the very out
set, by parties desirous of obtaining control of your property,
and this same factious spirit has been kept zealously alive by
the same parties during all this period, and has manifested
itself by a bitter and unceasing opposition to every plan of im
provement attempted by your directors. Many expensive
lawsuits have been instituted in the courts of Ohio, including
several injunctions and a quo warranto suit, all obviously
Intended to thwart and embarrass the efforts of your directors
towards carrying out their earnest ideas and convictions with
regard to your property, and to create among the stockholders
a feeling of distrust and want of confidence in the motives and
intentions of the management.
This unfortunate spirit of opposition and lack of harmony
have done much to increase the difficulties of your directors
and obstruct their efforts to develop the earning capacity of
your property, and have caused serious delays in many
important undertakings which they consider vital and hoped
speedily to accomplish—such an undertaking, for instance, as
a change of gauge, which could have been accomplished a
year ago on the most advantageous terms, for money was
then at a low rate, and rails, rolling stock, equipment and
other railroad supplies were at bottom prices—would now, on
account of recent and still continuing advances in prices, cost
us at least one hundred and fifty thousand dollars more than
at that time.
Notwithstanding discouragements and opposition, however,
your directors have carefully looked after the affairs of your
company, and have done what they could to develop and
improve the property and to save and increase its income, so
that to-day we can with confidence and pleasure state that
the condition of the roadbed and equipment has been very
much improved, and compares favorably with the best roads
m Ohio. The net earnings from operation are more than
doubled, and the communities through which the road passes
are very much better served. We have obtained a perfect
title to the property, and it is free from all debts and encum
_
.
1885.
1886.
Increase.
brances excepting its obligations to the terminal and equip Gross
earnings.................$291,916-49
$358,219-17
$66,302*68
ment companies, and all bills are paid promptly every month. Operating expenses, in
cluding salaries, taxes
We have, in fact, demonstrated that you have a good property
281,540-27
22,791*75
and insurance.............. 258,748*52
capable of being made very valuable if you will all act in
harmony, so that some important and necessary changes
Net earnings.............. $33,167-97
$76,678*90
$43,510-93
herein suggested can be undertaken at once and speedily
From net earnings as above given we have not paid any in
completed.
terest on our Terminal or Equipment trusts.
Since the first of the year the business of the road has been
We have here given you a full and accurate statement of the
increased to the utmost capacity of our equipment, and we condition of your property, the possibilities of which it is
feel sure that with more equipment the road can do a much capable, and the difficulties and disadvantages under which it
larger business, but we cannot recommend the policy of pur labors; we have endeavored to render you a faithful account
chasing or leasing more narrow-guage rolling stock, for we of our operation of your property, showing you what improve
do not believe that there is a stockholder who still thinks that ments have been effected and what we have attempted to
a narrow-gauge road in Ohio can permanently serve the pub- accomplish, together with the causes of our failure where we
Lc to the best advantage or pay dividends to the stockholders. have failed; and now, your directors, after having had the
. There are many reasons why a change of guage is a neces care of your property for the past eighteen months, submit
sity. the principal ones being that we cannot, with profit, ex the following conclusions:
change freight in connection with standard guage roads, and
First—That the operation of your railroad as a narrow
that shippers dislike to have their goods rehandled in transit gauge, located as it is, does not now, and never will, meet the
or to pay the charge for transfer; manufacturers, therefore, financial expectations of the stockholders; that it is unwise to
refuse to build on our line because they are therefore put to a continue the operation of the road as a narrow gauge, with
disadvantage with their competitors ; your road is therefore debts and liabilities against the company of eight hundred and
deprived of that important element of local growth in busi thirty thousand dollars in the form of trusts, receiver’s certifi
ness and population which makes a railroad permanently suc- cates, &c., part of which bear interest at the rate of 8 per cent,
oessful. The general freight business of the country is gradu part at 7 per cent, part at 6 per cent and part at 5 per cent.
ally increasing, and as a standard road we can reach new To meet this interest and at the same time pay a dividend to
markets for our coal and other freight, we can better compete the stockholders seems an impossibility.
for our share of general business and can handle the same at
Second—Some plan should be adopted whereby the debts
much less cost than as a narrow-gauge.
and liabilities of the company may be liquidated and replaced,
But it is coal on which we must largely depend for our great either by capital stock or by securities bearing not more than
increase in business. We are the shortest line from any large 5 per cent interest, and should be comprehensive and finan
coal fields in Ohio to Cleveland, a city of 225,000 inhabitants, cially broad enough to not only extinguish the present debts,
and the immense coal fields at the southern end of our road— but provide means, at the same time, to change the gauge
together with our terminal facilities in Cleveland for putting and to carry out some plan such as we shall set forth in this
coal into the rolling mills and into vessels for Lake shipments, report.
and for supplying the domestic demand—make us essentially
Third—We realize that the plan to be adopted must meet
a coal road, and what we need is to prepare ourselves to with the approval and support of the stockholders, and be
handle coal in larger quantities and at a mimimum cost. To substantially unanimous, and that no plan opposed by any
do this we need a 60-lb steel rail, 25-ton coal cars and heavy considerable number of stockholders can be successfully car
0r? 0*lves’ in short a standard-gauge read, with the best ried out, or should be attempted by your direetors. For that
standard-gauge equipment.
reason, we now recommend the issuing of bonds, rather than of
Another important matter which we feel it our duty to preferred stock, although the issue of preferred stock, in many
bring to the attention of the stockholders at this time, is the respects, would be better, could the plan be adopted with unan
relation of your company to the Cleveland Terminal and Bos imity. We have always advocated and urged a change of gauge,
ton Car Trust associations and Boston Equipment Company. as will be seen by our various reports,and we have no doubt that
While it is very gratifying to note the large increase in our the stockholders'agree that the gauge should be made stand
earnings the past year, it is important to bear in mind the ard. But it has been a question of raising the money and of
fact that we have used and are still dependent upon terminal agreeing upon a plan. A change to a standard gauge would
facilities and rolling stock to which we have no title whatever, be a profitable and permanent investment; it can be done
and which were leased by these trust companies to the Con - without calling on the present owners for money, and we will
notton Valley Railway Company, at very high rentals, which endeavor to show you that the results will be very satisfac
J a n u a r y 22, 1887,]
THE CHRONICLE.
to r y t o th e p r e s e n t secu rity ow ners. Last yea r w e proposed
a finan cial plan w h ich w e believed w as th e best u nder the
circum stances, b u t it m et w ith opposition fr o m som e o f the
ow ners, a nd as a n y plan to be su ccessfu l m u st m eet w ith the
approval o f at least tw o-th ird s o f the preferred and a m a jo r
ity o f the co m m o n stock, w e h erew ith su b m it on e w h ich w e
believe w ill com m en d itself to ev ery stock h old er w h o w ill take
the pains to a cq u a in t h im self w ith th e operation o f railroads.
W e w ill state th at d u rin g th e past yea r w e h av e been prepar
in g th e road fo r this ch an ge, and have p u t d o w n a grea t m a n y
standard ties and w iden ed th e cu ts and fills w here n eeded, all
o f w h ich , being don e w ith the regu lar h elp, has added but
little to th e operatin g expenses, so that it is p ra ctica lly a
standard-gauge-road-bed to-day. T o su p ply and pu t d o w n n ew
60-lb. steel rails w ith proper ties and sw itch es, stren gthen
bridges w h ere necessary, and add all things required fo r the
ch a n ge o f superstructure, and w ith a safe a llow a n ce fo r the
Bale o f the present rails, w ill requ ire an ou tla y o f about
$500,000.
T o su p ply all equipm en t necessary to d ou b le ou r present
coal ton n age, w ith a safe a llow a n ce fo r th e sale o f th e present
cars, «fee., w ill require $400,000. T o pu rch a se additional coa l
w harves and fre ig h t facilities at C anton and C leveland w ill
require a b ou t $60,000. T o settle th e ob ligations o f th e T er
m inal a nd E quipm en t C om panies and notes o f th e com p a n y
g iven on a cco u n t o f said T erm in al Com panies, ca n n ot ex ceed
$830,000, m a k in g a tota l o f n ot ov e r $1,790,000, w h ich a m ou n t
w ill be sufficient to m ake a ll needed changes. W e h a v e n o
dou b t, h ow ev er, tn at th e business w ill v e ry soon increase so as
to require m ore equipm en t, and th in k it w ise to m ake pro
vision fo r the purchase o f m ore cars as soon as th ey are fo u n d
to be n eeded, so th at w e w ill n ot again be ob liged t o issue
equipm en t stock o r bonds.
T o accom p lish the above, w e recom m en d a m ortg a g e o f
$2,000,000, du e in th irty years, and d raw in g 5 per cen t inter
e s t ; $1,800,000 to be issued n ow , and th e balance w h en n ew
ro llin g stock is required. W e have con su lted p rom in en t
bankers in B oston an d are assured that su ch a m ortga ge ca n be
pla ced at about par. A s a n arrow g a u ge w e have earned du rin g
the past year $358,000 gross, o f w h ich $75,000 is n et, a nd a
g o o d standard-gauge road, w e ca n p rob a b ly earn, the first
year, a t least $465,000 gross, ac an expense, in clu d in g taxes and
insurance, o f n o t over $280,000, lea vin g net earnings, $185,000,
and w ith in three years ca n proba b ly earn gross $650,000, w ith
net earnings o f at least $250,000. That is to say, as a n arrow
gau ge w e are to -d a y earn ing a bou t en ou gh net to pay th e in
terest requ ired on the m ortga ge a b ov e referred to, and as a
standard ga u ge w e can , in a dd ition to this interest, p a y a
dividen d on the present p referred stock. There are co n n e c
tions possible to be m ade w ith oth er roads w h ich w ill increase
ou r earnings beyon d ou r estim ates, b u t w e have con fin ed ou r
figures to th e business a lon g th e line on ly .
I f the ch a n ge is n ot b egu n at on ce, w e w ill n ot o n ly lose th e
benefits to be derived fr o m n ex t yea r’s business, but w ill be
obliged to pay m ore fo r rails, equipm en t, «fee., w h ich are c o n
stantly a d va n cin g in price. W e th in k th at n ex t spring is the
tim e to m ake this ch ange, and to d o it th en requires con siderable^ preparation. Ties m u st be cu t this w in ter, rails, lo c o
m otives and cars con tra cted for, a m ortg a g e m u st be voted,
issued and sold, and to d o this w o rk p rom p tly an d e con om i
cally requires con siderable th ou g h t and preparation. W ith
the gen eral im p rovem en t in business all ov e r th e co u n try and
the prospects o f fu rth er advances in a ll kinds o f m erchandise,
w e believe w e shall be $ 100,000 better o ff to d o it n o w th a n to
w ait a nother year. S tockholders w h o desire a n y exp la n a tion
can obtain it at the office o f the com p a n y .
H. A . B lo o d ,
I s a a c H . T a y l o r , W il l ia m J. B o tch ,
S am u e l A l l e n ,
W . O. C h a p m a n ,
A lmon S. E m e r y ,
W il l ia m R o tch ,
S e t h T. P a in e ,
G e o r g e N . Sm a l l e y ,
W m. H . B ell,
N a t h . D, F r e e m a n , H e n r y C. R a n n e t ,
J ohn C. A llen ,
J ohn W . W a r d w e l l ,
D irectors
121
$1 662 40
4*109 68
555 93
Station Supplies.........................................................................
Switching Servico......................................................................
Rents paid........................................................................................
Total Operating Expenses.................................................. .$ 237,774 54
Taxes.............................................
11,411 99
Total Operating Expenses and Taxes.................................... $249,186 53
Net Earnings....................................... ........................................ $60,169 01
MONTHLY STATEMENT OF EARNINGS AND EXPENSES.
From July 1-, 1885 , to June 30, 1886.
1885.
Earnings.
Expenses.
J u ly ............................. $24,004 20
$20,386 53
August..... ..................... 23,43385
18,707 52
September...................... 24,89180
20,287 85
October.......................... 27,11885
22,052 64
November_____ ______ 22,51644.
19,919 03
December...................... 26,48336
20,644 07
1886.
January....................... 20,830 29
19,977 42
February.......................
21,63041
19,165 39
Maroh.......................... 28,708 63
20,677 30
A p ril.............................. 27,33648
21,773 88
M ay............................... 29,25414
22,158 89
June...............................___________
33,14704
23,436 01
___________
852
2,465
8,031
5,562
7,095
9,711
$309,355 54
$60^169 01
$249,186 53
Net.
$3,617 67
4,726 33
4,603 95
5,066 21
2,59741
5,839 29
87
02
38
60
25
03
FREIGHT TONNAGE FOR YEAR ENDING JUNE 30, 1886.
Tons.
Coal.......................................................................202,709
Agricultural products and fruits..................... 1,167
4,182
G rain............................................................
Pig iron and oastings.......................................... 1,031
Manufactures..................................
347
Stone, lime, brick, sand and tile........................ 17,660
Live stook............................................................
903
Lumber and timber............................................. 12,996
Petroleum....................................................
847
2,669
Merchandise............................
Miscellaneous..................................................... 14,838
Per cent.
78T 6
0-45
1*81
0-40
OTS
6-81
0-35
501
0-33
103
5-72
Total tons yielding revenue.........................259,349
Supplies for company’s use............................... 20,808
100 00
BALANCE SHEET, JUNE 3 0 , 1886.
Cost of Property...$10,646,659
New construction
and reorganization
expenses ...............
45,502
Interest..................
8,228
3,537
Debit balances.......
Cash........................
2,900
95 Capital stook and
scrip....................... $10,306 ,374
Funded debt......................... 340,
000
98 Net earnings......................... 60,
169
27 Credit balances....
285
29
47
00
00
01
95
$10,706,828 96
$10,706,828 90
W. O. Chapman, Treasurer.
THE CLEVELAND & CANTON RAILROAD COMPANY.
EARNINGS FOR 6 MONTHS FROM JULY 1 TO DEC. 31, 1886.
From Coal..
$88,346 62
General Freight....................................................
35,721 90
Passenger............................................................................ 58,531 05
Express...............................................................................
3,000 00
......................................................................
4,365 00
Milk ana other sources........ .....................................
7,347 76
Total........................................................................................$197,312 33
OPERATING EXPENSES FOR 6 MONTHS FROM JULY 1 TO DEC. 31, 1886.
Salaries.......................................................................................... $7,953 15
i 5x 6 40
Law Expenses............................. ........... ...................................
Stationery and Printing..............................
1*512 06
Outside Agencies and Advertising.............................................
*910 87
Contingencies...............................................................................\
866 74
Repairs, Bridges, including culverts and cattle-guards........
2,029 04
Repairs, Buildings and Fixtures..............................................
8 074 94
Repairs, Fences, Road crossings and Signs..............................
L261 69
Rail and Tie renewals............................
728 15
Repairs, Roadway and Track....................................................... 29700 63
Repairs, Locomotives....................
9763 81
Fuel for Locomotives.............................................................. '
5*711 55
Water Su pply...........................................................................”
3*557 62
Oil and Waste...............................................................................
1,123 42
Locomotive Service, Passenger....................................................... 7,664 63
Locomotive Service, Freight.........................................
\ 8*820 15
Locomotive Service, Switching...................
'
2,383 67
Repairs, Passenger Cars.....................................
5,047 21
Passenger Train Service..............................................................
6,020 16
Passenger Train Supplies............................
157 95
Repairs, Freight Cars................................................................*. 8,068 53
Freight Frain Service................................................................ .
9 464 79
Freight Train Supplies.......................
*600 90
THE CLEVELAND & CANTON RAILROAD COMPANY.
Telegraph Expense (maintaining and operating)...................
334 26
EARNINGS FOR 12 MONTHS PROM JULY 1, 1885, TO JUNE 30, 1886.
Damage and Loss to Freight and Baggage...............................
2 88
155 25
From Coal . . .
............................. ..............................$116,977 68 Damage to Property, including cattle.......................................
69 00
From General Freight............................................................... 58,854 84 Personal Injuries..........................................................................
From Passengers....................................................................... 107,469 85 Agents and Station Service....................................................... 20,827 40
915 16
I£om E xp ress........................................... ...............................
4*650 00 Station Supplies............................................................................
Switching Service.......... .............................................................
2,730 54
421 26
From Milk and other sources................ . . . ’.
I
.
12, 673 17 Rents paid.....................................................................................
Total Operating Expenses, six months.............................$148,393 72
Total..................................................... 1............................... $309,355 54
Taxes, six months.......................................................................
5,957 95
OPERATING EXPENLES, 12 MONTHS, 1885 AND 1886.
Salaries General Officers and Clerks...........................
$13 717 51
Total Operating Expenses and Taxes.............................. $154,551 67
Stationery and Printing.................................................................. 2*420 56
outside Agencies and Advertising................................................... *998 77 Net Earnings............................................................................... $42,960 60
Contingencies.--............ ......................................... ......... . . . .
815 15
(Earnings and Expenses for December, Approximated.)
Repairs, Bridges, including culverts and cattle guards."."” ."
5,114 13
Kepairs, Buildings and Fixtures...............................................
4 223 61
MONTHLY STATEMENT OF EARNINGS AND EXPENSES.
Repairs, Fences, Road-crossings and Signs...................." "
L 225 57
Six Months, from July 1 to December 31, 1886.
kail and Tie renewals..................................... .....................
6 804 73
Earnings.
Expenses.
Net.
Repairs, Roadway and Track........................................................5 l’,809 68 J u ly 1886.
.....................................$32,668 63
$25,042 25
$7,626 38
Repairs, Locomotives.....................................................
17 545 04
August................................
35,228
92
i
S
6,033
63
9,195 29
luel for Locomotives........ . ..............
10*724 n6
September.......................... 33,807 31*
'•*26,M 8 01
7,259 30
O ctober..,.......................... 33,815 68
25,470 03
8,345 65
31,291 79
25,994 41
5,297 38
Locomotive Service, Passenger.................................................... 14*712 77 November.............
25,"263 34
5,236 66
Locomotive Service, Freight.......... , ......................................
11*637 37 December (approximate).. 30,500 00
Locomotive Service, Switching........................................
3*975 30
$197,312 33
$lg4,351 67
$42,960 66
Pa£«lr8’ P ™sePgSr c -ars...................................... —
6*716 69
FREIGHT TONNAGE FOR SIX MONTHS EÍíDIN'G (DECEMBER 31, 1886.
Passenger Train Supplies.............................................
440 qa
Tons.
Toils.
Cars............................- .................... : : : : : :
14,513 I t Goal...............................150,231 20 Jvumber and Timber__
7,320 81
Agricultural Products..
530 24 Petrcletfmr,...................
517 68
Grain.............................. 4,263 S i 1 MefchandisB.................. 1,151 14
reiegraphExpense (maintainingand operating)..............
517 11 Pig Iron and Castings.
42 81 Miscellaneous................ 12,258 33
Damage and loss to Freight and Baggage.............................
81 44 Manufactures................
767 86
^amage to Property, including cattle...................................
463 25 Stone, Lime, Brick,
Total 'Tons Yielding
personal Injuries..............................................
qq 00
8 and and Tile............. 13,409 69
Revenue...-............. 190,926 84
Agents and Station Service........ ...............
31,177 17 Live Stock.................
432 27 Supplies for Co.’SjUse. 12,044 85
[VOL. XL1V,
THE CHRONICLE.
122
COTTON.
Friday, P. M., Jan. 21, 1887,
T he Movement of the Crop, as indicated by our telegrams
from the South to-night, is given below. For the week ending
COMMERCIAL EPITOME.
this evening (Jan. 21), the total receipts have reached 155,884
bales, against 142,915 bales last week 159,044 bales the previous
F r id a y N ight , Jan. 2i, i887.
week and 236,618 bales three weeks since ; making the total
r The week has been without incident of importance except receipts since the 1st of September, 1886,4,213,641 bales,against
-the passage through the House of the Inter-State Commerce 3 978,442 bales for the same period of 1885-86, showing an in
bill and the labor troubles; but the latter have not been of crease since September 1, 1886, of 285,199 bales.
much significance. The dispute with the Old Dominion
Mon. Tues. Wed. Thurs. Fri. I Total.
Receipts at— | Sal.
•Steamship Company still proves a source of embarrassment to
Galveston......... 4,488 5,510 2,123 2,205 3,273 1,217 18,818
the steamships up for European ports, and may for a time ob
....
....
....
....
—•
Indianola, <fec.
struct in some degree the shipment of cotton from Southern New Orleans... 5.659 11,637 15,536 11,192 7,564 11,024 62,662
814
935
8,987
markets via New York. Heavy snows have interrupted rail M obile............. 1,080 3,251 1,354 1,503
SOI
801
....
....
. . . . ........
......
Florida.............
road transportation in the more northern latitudes.
2,617 3,466 3,377 2,121 1,854 3,695 17,160
The speculation in Lard for future delivery has shown but a Savannah.........
370
. . . . .........
370
....
....
....
Brunsw’k, &c.
moderate degree of spirit, and prices have been unsettled. Charleston.......
6,660
680 1,331
768
813 2,011 1,059
471
471
—
. ...
....
....
.........
An advance on Saturday last was more than lost on Monday
Pt Royal, &c.
476
932
561
4,604
697
808 1,130
and Tuesday, but has since been fully recovered, the market to Wilmington. . . .
71
71
....
....
. . . . .........
....
Moreh’d C.&c.
day showing some improvement. Lard on the spot has been
Norfolk............. 1,643 3,425 2,339 2,059 1,310 1,879 13,155
quiet but is rather better to-day, closing at 6-60c. for prime City > West Point,&o
7,105
595 4,547
260
796
604
303
fi’iJOigB’SSc. for prime Western, 7 SOo. for refined to the Con New York........
250
372
4,193
736
486 1,812
537
14 3,226
254
580
421
507 1,140
Boston..............
tinent and 7*80@7'35o. for refined to South America.
T h e
© o m r a e r tia l
fir n e s .
DAILY CLOSING PRICES OP LARD FUTURES.
Saturd’y. Mond’ i/. Tuesd'y. Wedns'y. Thur8d'y. Friday.
6-76
6-81
6-78
6*75
6-77
Feb. delivery.. 6-70
6-82
6-87
6-83
6-80
C82
Marcli
“ .. 6'86
6-89
6-94
6-90
6-87
6'89
April
“ .. 6‘93
6-96
701
6-98
6-94
6-96
May
“ .. 7‘00
7-03
7-08
7-05
7-00
7-04
June
“ .. 7 '07
Pork has been taken to a fair extent at steady prices, closing
at $12 50@$12 75 for new mess, $10 75@ $11 for extra prime
mad $14 75@$15 50 for clear. Cutmeats have been firm, but
generally quieter; pickled bellies 6%@7c., hams 9 ^ @ 9^ c.
and shoulders 5>^@5^ c . ; smoked hams lQ ^ @ 10%c. and
shoulders 0j^@6%o, Beef is dull at $7 50@$8 .for extra
mess and $8 50@9 for packet per bbl. and $15@$17 for India
mess per tierce; beef hams are easier at $19@$19 50 per bbl.
Tallow sells readily at
4 516c. Stearine is firm at
7i^@7%c. and oleomargarine is quoted at 6@6J^c. Butter is
in moderate demand at 20@31c. for creamery. Cheese is firm
at 11%@ 13^o. for State factory full cream and 6^ @ l l^ c .
tor skims. The following is a comparative summary of aggre
gate exports from November 1 to January 15:
P ort
«aynil"
L w d ...
’
1886-7.
.........lbs. 10,616,000
117.020.286
. . . . 91,241,145
1885-6.
10,530,200
113,797,555
65,140,846
The speculation in Rio coffee was dull,
downward, but to-day there was a steadier feeling, closing
with sellers at 12*95@13o. for the active months. Fair cargoes
o f Rio have further declined to 14|^c., but close steady at the
reduction' ^Macassar sold to-day at 16^0. for early arrival.
Raw sugars have continued to rule very dull, and to-day were
quoted a fraction lower at 4 9-16c. for fair refining Cuba and
5i^c. for centrifugal 96-degrees[test. Molasses is nominal at
2U@20^c. for 50-degrees test. Teas in good demand.
The transactions in Kentuoky tobacoo are limited to 250
hhds., mainly for export. In seed leaf large sales of Pennsyl
vania growth are reported, with a moderate general demand,
Sales 2,928 cases, as follows: 654 cases 1881, 1882 and 1883
crop 3, Pennsylvania, ll^@ 14o.; 1,354 cases 1885 crop, do.,
V2£@llc.; 50 cases 1884 crop, Pennsylvania Havana seed, pri
vate terms; 150 cases 1885 crop, do. do., 9^@15c.; 200 cases
1885 crop, Ohio seed leaf, 6@ 8c.; 120 cases 1885 crop, Little
Dutch, 8@9>£c.; 150 cases 1885 crop, State Havana, private
’terms, and 250 cases sundries, 6@35c.; also, 600 bales Havana,
•00o.@$l 05, and 250 bales Sumatra, $1 20@$1 60.
Naval stores have, been quiet and the close is somewhat nom
inal at 39@39)^c. for spirits turpentine, $1 02J^@$1 10 for
common to good strained rosin, and $2 for tar. Crude petro
leum certificates reflected a moderately brisk speculation, but
a mid-week advance was followed by some depression, and
the close to-day is at 71^@71^c. The iron markets gained
•strength early in the week, and the opinion was expressed
"that prices would advance to figures that would admit of free
importations; but the close is dull and straits tin is nominatat
22‘65c., lake copper 11’600. and lead 4,40c.
Ocean freights have been dull. To-day the grain shipments
were quite moderate, including Liverpool and ^Glasgow at
4$£d. and Bremen at 60pf. Wool has met with a better
4emand. Hops are more freely offered and weak, Clover
«ed is more firmly held,
....
65
....
17
....
59
....
25
....
49
7,300
88
7,300
303
Totals this week t 18,55( 133,027 29,573 122,389 17,997 34,348 155,884
F o r c o m p a r is o n ,w e g iv e t n e io iio w m g iia D ie H iiu w iu K w o « w » a
total receipts, the total since Sept. 1,1886, and the stock to-night,
and the same items for the corresponding periods of last year.
Ref.eipts to
Jan. 21.
Galveston..
Ind’nola,&o
New Orleans.
M obile....
Florida__
Savannah.
Br’sw’k, &o
Charleston
Pt.Royal,<fec
Wilmington .
M’head C.,&c
Norfolk........
W.Point, &c
New Y ork..,
Inc.
85,800
lac. 3,222,731 B oston ........
Baltimore..
Ino. 26,100,299
and except for a Pliiladel’a.&c
u gpurt ” in the middle of the week the tendency has been
Baltimore........
Philadelp’a, &o.
Total___
1886-87.
This Since Sep.
Week. 1,1386.
18,816
1385-86.
This Since Sep.
Week. 1,1885.
Stock.
1887.
577,382 103,346
781
40,993 1,287,402 389,403
37,526
189,155
8,373
40,247
2,013
93,485
13,974 628,024
13,064
214
33,042
6,054 394,997
471
9,301
64
11,174
81,765
2,133
4,569
43
42,689
8,370 397,499
9,127
2,933 201,625
42,354 233,388
4,100
9,800
58,403
4,954
14,128
28.608
400
23,266
14,381
3,418
1886.
73,097
630,689 12,274
62,662 1,322,232
8,987 181,274
19,913
801
17,160 637,300
24,177
370
6,660 343,660
14,576
471
4,604 124,435
3,521
71
13,155 432,634
7,105 252,000
60,959
4,193
50,670
3,226
34,191
7,300
21,377
303
155,884 4,213,641 110,310 3,978,442
394,981
61,339
1,048
83,241
......
79,989
64
11,300
........
44,281
6,322
266,922
6,310
33,390
25,266
914,960 1,087,550
In order tfiat comparison may be made with other years, we
•__ l . k __ ik y i/virtl«
Receipts at—
1887.
1nn/44m/v w/m4 ci Ì av aiw amoar\Y\a
1886.
1884.
1885.
1883.
1882.
12,274
40,993
8,373
13,974
6,118
2,176
8,370
2,933
15,099
5,833
36,056
5,747
9,630
6,463
1,579
12,317
4,661
11,625
9,959
30,731
5,132
11,760
8,728
1,593
17,607
3,349
15,674
12,575
54,398
8,978
12,844
8,629
3,585
14,335
2,940
18,116
7,677
18,142
3,998
15,534
7,277
4,202
15,226
4,619
15,406
Tot. this w’k. 155,884 110,310
93,911
104,533
136,400
92,081
Galvest’n.&o.
New Orleans.
Mobile..........
Savannah ...
Chari’st’n, &o
Wilm’gt’n, &o
W. Point, &o.
All others .. .
18,816
62,662
8,987
17,160
7,131
4,675
13,155
7,105
16,193
Since Sept. 1. 4213,641 3978,442 4051,697 3862,207 4148,631 3692,481
W m i l l U K l O i l l n o i u a w JXLOXOU U
n O O l i A U U i t m u i u u p o VAWJ *
The exports for the week ending this evening reach a total
of 152,389 bales, of which 76,566 were to Great Britain, 22,748
to France and 58,075 to the rest of the Continent. Below are
the exports for the week and since September 1, 1886.
Week Ending Jan. 81.
E xport»
from —
From Sept. 1,1888, to Jan. SI, 1887.
Conti
Great
Conti Total G reat
Total.
France nent.
B rit’n. France nen t. W eek. B ritain.
301,617
67,831
26,230
207,556
17,472
15.632
1,540
G alveston.......
881,267
New O rleans.. 46,485 15,542 15,237 77,264 415,918 263,988 201,300
17,141
17,141
. . . . . . ........ ........
M obile.............
Florida............
15,018 19,198 210,864 15,040 159,788 385,698
4,150
Savannah........
81,501 38,044 106,474 226,019
.510 2,360
1,850
C harleston....
93,898
6,418
81,170 6,310
W ilm ington...
........
1,937 223,548
5,770 220,611
6,176
N o rfo lk .... ...
69,549
8,406
58,993 2,150
5,109
West Point,&c 5,109 " . . . . . .
435,874
New Y ork ....... 11,559 1,714 5,218 18,521 275.382 31,236 129,256 i 73,183
1,195
71,987
1,594
1,594
iiOfltOTl
**
83,039
14,082
63,815 5,132
149 2.Ï02 1,100 3.351
B altim ore......
27,427
1,774
25,053
1,744
Philadelp’a, Ac . 1,714 .........
698,527 5,817,249
1,730.586,388,136
152,389
22,748
53,075
70,560
T o t a l.........
2.894 080
TWal 1885-8« «3.090 6.624 38.180107.003 1,309.847'255.900 828.283
THE
J a n u a r y 22, 1887.]
l a add ition to a b ove exp orts, ou r telegram s to-n ig h t also g iv e
o s th e fo llo w in g am ou nts o f cotton o n shipboard, n ot clea red ,
at th e ports nam ed. W e add sim ilar figures fo r N ew Y o rk ,
w h ich are prepared fo r ou r special use b y Messrs. C arey, Y a le
& Lam bert, 2 i B eaver Street.
On Shipboard, not cleared—for
Jan. 21,
at—
Leaving
Stock.
Other Coast
Great
Britain. France. Foreign wise.
Total.
4.176
38,146 21,153 21.567
4,500
13,000 None. None.
500
4,300
2,000
1,500
1,200
8,700 2,800 18,000
7,893 10,229
2,986
19,869
1,360
29,400 None. 1,912
5,500 None.
3.000 None.
2,000 None.
7.000 None.
85,012
17,500
8,300
30,700
40,977
32.672
8,500
9,000
304,361
20,026
23,742
62,785
62,369
10,017
224,883
53,031
Total 1887....... 121,115 28,439 61,172 21,965 232,691
761,269
32,350 48,543 25,687 222,530
27,045 35,218 13,523 173,392
865,020
725,332
NawOrleans___
Mtibile..............
Caarleston . . . . .
Savannah. . . . . .
Galveston.........
Norfolk . . . . . . . .
New York.........
Other ports.......
Total 1 8 8 6 ...... 1115,950
Total 1 8 8 5 .......1 97,606
T h e specu lation in co tto n fo r fu tu re d elivery at this m arket
open ed the w eek u n d er re v ie w w ith the ex h ib ition o f som e
stren gth, d u e m a in ly to the com p a ra tiv ely sm all stocks a t
Southern in terior tow n s, sh ow in g th a t the com p a ra tiv ely fu ll
receip ts a t the ports did n ot refleot an equal m o v e m e n t fro m
plantations. B u t on M on day a nd Tu esday th ere w ere d e c lin e s ;
L iv e rp o o l an d M anchester d id n ot g iv e as m u ch su p p ort to
valu es as th ey had d on e recen tly, and m a n y o f t h e “ b u lls ’’
b eca m e discou ra ged and sold out. On W ed n esd a y there w as a
a b u oy an t open in g, th e “ bears” fo u n d them selves a little over*
sold, and th e “ bulls” took advan tage o f a dem a n d to c o v e r c o n .
tracts to fo r c e u p valu es; b u t th e m arket w as qu iet in th e
clo s in g dealings, and yesterda y the advan ce w as m ore than
lost u n der the con tin u ed free m ov em en t o f th e crop and the
disa p poin tin g report fr o m L iv erp ool. T o-d a y th e m arket
open ed stron ger, sligh tly declined , but closed stea d y, w ith ou t
a ctive influences fr o m a n y quarter. C otton on th e spot w as
m arked d o w n l-16c. on M on day and u p l-16o. on W ed n esd a y.
T h e dem and con tin u ed m oderate an d m a in ly fo r h o m e co n
sum ption. T o d ty the m arket w as q u iet at 9}^c. fo r m id d lin g
u plands.
T h e total sales fo r fo rw a rd delivery fo r th e w eek are 410,600
bales. F or im m ediate d elivery the total sales fo o t u p this w eek
1,889 bales, in clu d in g — fo r e x p ort, 1,739 fo r con su m p tion ,
150 fo r specu lation and — in transit. O f the above, — bales
w ere to arrive. T he fo llo w in g are th e official q u otation s fo r
ea ch d a y o f th e past w eek.
TEXAS
UPLANDS.
NEW ORLEANS.
S at. M o n T u e s Sat. M o n T u e s Sat. M o n T u e s
Jan. 15 to
Jan. 21.
Ordin’y.$!b
Strict Orel..
Good Ord..
Str. G’d Ord
Low Midd’g
Str.L’ wMid
Middling. .
Good Mid..
Str. G’d Mid
Midd’g Fair
F*ir...........
Ordln y.$t>
Strict Ord..
Good Ord..
Str. G’d Ord
Low Midd’g
Str.L’w Mid
Middling...
Good Mid..
Btr.G’dMld
Midd’g Fair
Fair...........
6%
73ia
dn id
7*8
8*0
8*16
8aje 8*3
9
8 *»ie
9°ie 9*4
97i 6
9*8
9^
01*16
10
9*®16
1038 10&16
11
10 **>i6
W ed T h .
6**16 6 *6,6
738
7*0
8*16 85ie
8*8
8%
b^°. ft 93l6
9*3
9*4
97l6 9**16
9**16 9*5,6
9*Sl6 103,8
106,6 I 0a,6
10i i 1{ L13i6
F r i. W e d
6*5,6
738
8*8
8*8
8»16
8*8
8ais 8 al 6 8 aie 8 %
9
9
9
93,6
9618 95ie 9®16 9*3
9*8
9*â
9**16
9^3
9*5,6
934
9%
10318
L0
10
10
LOSa 103a 1038 10» ,a
11
11
11
11316
6%
7*16
6^
7316
6\
7316
STAINED.
Sat.
Good Ordinary...
Btriot Good Ordinary.......
6916
6 78
75,6
8*4
8 *1,6
9*8
9*16
91*8
978
10*8
10*8
11*8
11*8
10*3
Th.
10*3
6*5,6
738
85,6
8\
93,a
9*3
9*1,6
9*5,6
IO»,«
6 7a
75,a
8*4
8 *1,6
9*8
97,6
95a
10*8
10a,6 10*3
113,6 11*8
Th.
F r i. W e d
6*5,e 6*5,6 6*5,6 6*5,8
73s
73fl
7.38
738
8516 9°1« 85,6 85,6
84,
8%
8%
93,6 93,6 93,q 9:*,fl
9*3
9*3
9*3
9**16 9**16 9**16 9**16
9*5,6 9*5,6 9*516 9*0,6
103,6 103,6 10316 103,8
- 0a,6 I 0al6 109,6 16a,e
11313 11»16 lis ie 113,6
6 78
75,6
8*4
8**16
9*8
97,e
9**8
978
10*3
11*8
6*5,6
738
8°16
84,
93,6
9*3
9**ift
915,0
103,60
109,6
11*16
F r i.
6*3
78,6
6 aie
6a16
8
8 7s
6 aie
7*4
7*4
7*4
8 *,e 8*16
8*5,6 8 *0,6 8*5,6
MARKET AND SALES.
T h e to ta l sales an d fu tu re deliveries ea ch d a y d u rin g the
w eek are in dica ted in th e fo llo w in g statem ent. F or th e c o n
ven ien ce o f th e reader w e also add a co lu m n w h ich sh ow s at a
gla n ce h o w th e m arket closed on sam e days.
SALES OP SPOT AND TRANSIT.
SPOT MARKET
CLOSED.
F r i. .
Quiet and steady
Steady 'it *,e dec
Q uiet..................
Steady ® *,6 adv
Quiet..................
Easy..... .............
Total.
.................................. .
B a t. .
M on.
Tues.
Wed .
Xhurs
E x Oon- Spec- Tran
p o rt. sum p u l’t’n sit. Total.
328
342
279
31.2
218
2b0
... .
• •••
....
... .
.. . .
....
... .
.. . .
... .
... .
....
150
1,739| 150
... .
.. . .
328
342
279
312
3t>8
260
futures.
Sales.
24.500
92,100
102,100
02,100
58,700
71,100
1,889 410,600
D eliv
eries.
... .
... .
. .. .
200
200
Tho daily deliveries given above are actually delivered tbe day
previous to that on widen they are reported.
T h e S a l e s a n d P r ic e s
in g com preh ensive table.
of
|3Si
00
E?
P0
§3i
tr® a p,
O
—
<
a o3. ® p.
tf® a m tf® ® »
« »•
g * «4
ÄlH
^
«■öS«-!
• r ?Qvi
£ .« 1UE
a,” f°
<9 B1 ; s E P
.®ff
41
«J. I
Si
00 a ® P
CO H
g
®W 5*
® ^ »13. tr®a.b S S J 1
èl^ ì m
1© or1
• ©Sr*
to © ■
©o
OO
to
05
CO ©
coco
p-eo
i£>£
too
©<i
I9 :
I9
I9
©©5 ©
©O©
¿©M i¿cóo w
o©
©
to o -j
co©
•©
©-j*.
O
o
►
•4
Wit». i*®4
HiCH
19 « :
© © o '?
O*ÇjtOçH
1CCO o
©© ►
4
05 W
®
©001-» 4
I 9d®:
to
at
>•
coco 5 coco %
O*VI ®
HH h 1
Idp:
Iop.
cocogco
o* ;J»Ooi
toa>
to
©© ^
Ô 05 ®
H H *4
I 9<i:
o
© » o '?
áá© »
tO 05___ M
CO© ^
-iô 8
cc -1 I 9 » ;
•Y**? eo©o©
CUM
Ck*
¡4
®
>4
dp:
"00
►
coco ◄
Du GO
®
C
O
O
«
^
ÇÛ^
y to I d p :
to
cos p o o p
co COOoo
0 0 co
«0© 4
ÔC5 ®
»1© 4
I 9 ©:
© © o '?
ô à ©©
ooao
x
s ’srg*
ti*©
a S»
5 » -v i
o'*
! s * s*
S '-lo o
foiStM
O. -la®
^4 ©o-r1
« © ^ coco
^ ®
0 0 ** & to
1 9 .®: I «5
Q1
a«
<0coo'd
w
hC r ?
0 ©
to___
»© 5 « » 5
COM ® h *» #
00-4 *4 h © **
I 9 tO.
I9 :
03
© » O '? » © O ©
IftrfiOW ¿if»® l£
*
O O
CD tOrO H
coco 5 coco \
c
1^00 *
I Op;
I o®
IO
cocogco
if! ifLOifl
to©
loco
M
coco 5
CT»Û» ®
I op;
cocoçco
CTtCÎiOçji
CO^ to
»©<
I©
05 Ob
®
ϙ
I9 0 :
© © o©
é à)Oà
enenh»
1 9 »»:
>
®®
®
H i-* .
I dP:
to
co c o o co
coco ^
ob cô ®
ODO ^
I9 3 ;
® © o®
CC^ Oc¿
oco
to
©©
oc ob
"U 5 7
S3*
co
¡3
®
Pi —b,®
*4 O O ?
Sta
I»•S
l3kP
¡» » a ,
P Q S?
λ p.
:fe»
§ i
BIS,»
&, »
■ Ó ©
©co
¿if»If- M
I9
coco
Ô
coco <
ciiCk ®
OO
>4
I 9J-|
© © o '? '
dtdiOûi
© » o ©
>
coco
abc» ®
K h ta"1
I9 0 :
I 9p.
o
© » o '? © © o ©
C¿QD©ob
ac co w
>
t>
? ©© 4
© »
®
tati ®
W ©
*4
O ©
*4
I 9o>:
I 9 ®:
to
© » 0 ® , COop
© » © » • c¿ O Ó
to o
05© 03
«© 5
©© ®
c » 8 W
If» *4
© W “4
I 9© :
I 9 ®;
MH'oiH
©©o ©
CO® ©
c o © 6 cô cô O CO
05*<l Ot
b
t».
H
bt
• Ì -I
co
COCOoP I
-4 <1o <| !
IOCO
M
► co©
►
•4 COCO 4 ©©
<14 ® •S4 ® <1-1
©>- M®
4 WW
Mei
I 0 Íto
I9 «;
I 9*-:
©
© © b ® © » o © COCOO CO co co o co
-Í ® -Ì
-i -’>o -i -4
cc »
IO<1
ImjOD
fe
a
•*1. w
©©
co©
MK».
o3E 2
►
coco > coco •
4
05cb ®
w ..®
UliUWT
co©
!
< coco ®
COÒ
I CO CO
®
cow i ento ^
I dco;
-i
COCO o p
COOop
c¿ COOCD © o © ©
a. 05 co C5o o>
I9
F r i.
Th.
6*3
7316
«a
>
9
I ftr. 1
to
co c o o co
4
®
coco
CD *D
P-***
b* h*
CCco
00 00
œ © o©
ccao©(¿
a©
o:
09
ce co
ob ob
3<<
Q
tef i
Qa
«
► 1
<
® 1
.r*
9.©;
© © o®
toco to
ti
50
O
coco
coco
<
®
C*9t0-*^
I dP:
H
coco o co
COo
CDCD
CC<J
I »?
M - if-k-1: '
OOO© :
© ó°ó
_©o ©J_
►H* "" L> I
O© 5,
oH¡»©W ®
*4
i t»©:
l-l|_.©l-.
©©5. O
¿ c eó
W-4 ©
S
fe)
0a
fel
O
fej
fe)
fe.
Q
ta
10*8
M on Tues W ed
7*4
8*18 8
8*318 8 7a
Middling... .......... ........... ..........
6 78
75ie
8*4
8**16
9*8
97,6
9»8
978
123
C H R O N IC L E .
F u t u r e s are sh ow n b y th e fo llo w
1°:
i I;
I 9;
I 9;
111
I 1
I 9;
I k*
I9
t 9£*V
05^ ! © ©M©
o p i i ©■■?
©05
Cno<© Ci I i O cñ
CCin *-
I I:
I !
-4«i **
I I9 :
2
w®
© ■ i-, I ©to®®
o
! iû iü© rfú
i © -j ©
I9
I9
0®
©d>
I9
I 9:
* Includes sales in September, 1886. tor September, 42,900; September-October, for October, 287,200.; September-November, for November,.
441,700; September-December, for December, 765,100.
g y we nave lnoinaea in cne above table, ana snail oontlnne each,
week to give, the average price of futures each day for each month. Ik.
will be found under each day following the abbreviation “ Aver.” The
average for each month for the week is also given at bottom of table.
Transferable Orders—Saturday, 9*45c.; Monday 9*45o.; Tuesday,.
9-40c.; Wednesday, 9-45o.; Thursday, 9*40c.; Friday, 9 40c.
T he fo llo w in g exch a n ges have been m ade d u rin g th e w e e k t:
•10 pd. to exch. 700 Apr. for May.
*10 pd. to exeb. 100 Apr. for May..
•27 pd. to exch. 100 Apr. for July. •17 pd. to exch. 100 May for July.
•20 pd.to exch. 300 Apr. for June. -49 pd. to exch. 600 Feu. for July.
■10 pd. toexeb. 100 May for June.
’31 pd. to exch. 1,000 Feb. for May».
•48 pd. to excli. 2,000 Feb. for July. -49 pd. to excli. 500 Feb. for July.
11 pd. to exch. 300 Feb. for Mar.
*10 pd. to exch. 200 Apr. for May..
T he V is ib l e S u p p l y o f C otton to-n ig h t, as m ad e u p b y c a b le
an d telegraph , is as fo llo w s . T h e C on tin ental stocks, as w e ll a s
those fo r G reat B ritain a nd th e afloat, are this w eek ’s retu rn s,
a nd con seq u en tly all th e E u ropean figures are b rou gh t d o w n
THE CHRONICLE.
124
I Vo l .
XL1V.
QUOTATIONS FOR MIDDLING COTTON AT OTHER MARKETS.—
to Thursday evening. But to make the totals the complete
figures for to-night (Jan, 21), we add the item of exports frcm In the table below we give the closing quotations of middling
cotton at Southern and other principal cotton markets for each
the United States, including in it the exports of Friday only.
day of the past week.
1884.
1885.
1887.
.•Stock at Liverpool........ bales. 820,000
12,000
Stook at L on don ....................
1886.
629.000
17.000
742,OC0
60,000
802,000
2,600
67,100
53,005
900
3.800
153,000
3.000
783.000
7.000
43,800
53.000
500
1,100
184.000
4.000
37.000
6.000
5,000
283,000
341,400
354,400
Total Great Britain s took , 832.000
3,100
Stook at Hamburg..................
20,100
Stook at B r e m e n ...............
20,000
Stock at Amsterdam ...............
300
Stook at Rotterdam
• 1,400
Stook at Antwerp................. .
Stook at Havre..................... — 192.000
2,000
Stook at Marseilles................
44.000
Stook at Barcelona........ .........
6,000
Stook at Genoa.......................
11.000
Stook at Trieste........................
646,1)00
4,300
36,800
32.000
400
1,600
146.000
4.000
45.000
Total Continental s to o k s ......
299,900
741.000
42.000
10.000
6,000
50.000
10.000
8,000
Total European stocks ....1,131,900 929,000 i »124,400 1,156,400
India ootton afloat for Europe. 100,000 94,000
73,000 166,000
Amer’noott’n afloat for Eurpe
604,000 439,000
639,000 685,000
Egypt, Brazil, &o.,afltf or E’r’pe
44,000 49,000
60,000
56,000
Sto3t in United States ports .. 664,960 1,087,550 898,724 1,136,260
Stook in U. S. Interior towns..
328,780 458,854
283,286 299,235
United States exports to-day..
26,020 20,527
14,400
4,000
Total visible su p ply..........3,229,660 3,077,931 3,082,810 3, 402,895
Of the above.the totals of American and other description s are as follov s:
Liverpool stock... . . . . . . .bales
Continental s t o c k s ......... . . .
American afloat for Europe...
UnltedStatesstook..........
United States interior stooks..
United States exports to-day..
515.000
266.000
585,000
136,260
299,235
4,000
637.000
237.000
639.000
898,724
283,286
14,400
624,000 490,000
204,000 223,000
604,000 439,000
694,960 1.087,550
328,7 80 458,854
26,020
20,527
Total American..................2,781,760 2,718,931 2,609,410 2,805,495
Matt Indian, B ran t, <tc.—
Liverpool stock . . . . . . . . . . . . . . . 196,000 139,000 204,000 227.000
60,000
42.000
17.000
London stock............................
12,000
88,400
60.000 104,400
Continental s t o o k s .............
95,900
166.000
73.000
94.000
India afloat for E u rop e..... . . . 1C0,000
56,000
50.000
49.000
Bgypt, Brazil, &o., a flo a t...... 44,000
Total East India, A c .... .- 447,900 359,000 473,400 597,400
Total Amerloan?..7 ........2 ,7 81 ,7 6 0 2,718,931 2,609,410 2,805,495
Total visible supply..........3,229.660 3,077,931 3,082.810 3,402,895
iPrioe Mid. U pl„ Liverpool....
6»ifed.
Shed.
516,fed.
57sd.
Prloe Mid. Upl., New Y o rk ....
9i«o.
9ho.
l l ^ o . lOihgc.
Week ending
Jan. 21.
CLOSING QUOTATIONS
Batur.
Galveston...
9
9i ie
New Orleans.
9
Mobile..........
Savannah. . .
91«
9 is
Charleston. .
Wilmington..
93g
Norfolk........
914
Boston..........
9i>ie
Baltimore.... 9143938
Philadelphia.
9«8
Augusta....... 9®9ii8
9
Memphis__
9
St. Louis.......
Cincinnati...
9 le
Louisville....
9
FOB MIDDLING OOTTON ON—
Tuet.
Wednet.
Thurt.
9*8
9*8
9
9
9
Alle
018
03s
9
9
9
9h«
918
9
9
9
9ii0
9>s
91116
91116
Mon.
9
9
9
91 te
914
914
914
914
9»8
911fl
9
9
9 is
9
938
9®9ii6
9
9
9ls
9
914
914
914
914
9»l«
9»16
9l4®9»8 9i4®938
908
03s
816ie 8iBi6®9
9
9
9
9
9 is
0i8
9
9
Fri.
9
9
9
9*18
018
PH
914
914
93s
81*18
9
81*18
918
9
R e c e i p t s f r o m t h e P l a n t a t i o n s . —The following table
indicates the actual movement each week from the plan
tations. The figures do not include overland receipts nor
Southern consumption; they are simply a statement of the
weekly movement from the plantations of that part of the crop
which finally reaches the market through the outports.
W eek
Ending—
Deo.
“
“
Jan.
••
“
17........
24........
81........
7 .......
14........
81........
R eceipt> a t the Porte. S t'kat In terior Tourne. R ee’p ti from P lan t’ne
1884-85 1885-80 [1886-87 1884-85 1885-8611886-87 1884-86 1885-861886-87
258,810 238,011 260,650 363,866 481,239 410,953 286,755
207,803 240,160 283,045 363,520 521,310 433,534 207,547
154,075 189,852 236,018 840,488 543,557 443,565 140,043
138,004 140,829j159,044|820,785 520,561 423,252 105,201
130,051 108,488 142,915 304,850 513,003 880,745 115,025
03,011 110,310 !155,884 298,080 403,250 !300,428 87,132
284,007 269,527
280,240 305,620
212,000 246,649
123.833 138,781
95,920 109,403
89,5671132,56
The above statement shows—1. That the total receipts from
the plantations since September 1, 1886, were 4,532,009 bales;
in 1885-86 were 4,455,842 Dales; in 1884-85 were 4,332,562 bales,
2. That, although the receipts at the outports the past week
were 155,884 bales, the actual movement from plantations was
only 182,567 bales, the balance being taken from the stocks at
the interior towns. Last year the receipts from the plantations
for the same week were 89,567 bales and for 1885 they were
87,132 bales.
A m o u n t o f C o o t o n i n S i g h t J a n . 21.—In the table below
we give the receipts from plantations in another form, and add
to them the net overland movement to Jan. 1, and also the
takings by Southern spinners to the same date, so as to give
substantially the amount of cotton now in sight.
i y The imports into Continental ports this week have been
fiOjOOO bales.
.
The above figures indicate an increase in the cotton in sight
to-night of 151,729 bales as compared with the same date of
1880, an increase of 140,850 bales as compared with the correepQTiHiwg date of 1885 and a decrease of 172,285 bales as
compared with 1884.
A T t h e I n t e r io r T o w n s the movement—that is the receipts
1886-87. 1885-86. 1884-85. 1883-84
fo i the week and since Sept. 1, the shipments for the week, and
the stocks to-night, and the same items for the corresponding Receipts at the ports to Jan. 21 4,2)3,641 3,978,442 4,051,697 3.862,207
period of 1885-80—is set out in detail in the following statement. Interior stooks on Jan. 21 In
excess of September 1..........
tllfili
X
H h# * ?
g
® off - j
g Mg B É Ì& E & ® ® E&B I g.§ S'a
fffe§■§I f f E g S <
5-ë 5 £ § B I
*
3
I
li a s K lK L a lffi
-
OS??«
E;
K M
coV
HOlCDCOXOiO
CB CCBCO O COO
05 H* H* CB fcO CO •
I *
pi
CB
4 co
$ 0 ) CO<IOC<I<D
CBM* r*00^ •
00O’ 05CBcoo;
COW
(OCOHlMHHi^W^^ M*kCCBOO*OCO
^ to OC<1pipi COH COCO ISCPCOa) 05* o
toH*05C HCt o 'cd'o HO'VOCÄCOOOHO CO^I
ODCiOO*0*fcO©<lCB©CBCBOCO(X>CHCOCP©
©CB00*a©**O*O:*CH*CCMCOH-*|fk©*
to
to to
0> ©; *
CO* * *
OOi
©; * CBO
COtotOMCO
CB
H M
o
CO
*
*
&
Of* M
CO*
tow
Vj bOtOM00tO00 * H to * o to cosacco
Q0**O5CBCBC0HtO0000CB00^4OC0W*W
05CQI0OOCX)O00^*^t0CBMOt0t0a00
IJrSlf3.
aoojw oiH H j
Vital* bo Hi->■b>bo os <1; ©« oI cmosIom Io
o s a » » - a o o m o o to
CO-JOIOO'.^OiMtM. <0MtOOO*.00too
SM
en to co os to o <k >i m w c o ib o c o a c o o S i
ib.* utseoeoco to
ib i s a - j H H cx totococribcotoototSh-ibcx-acooDOo.-'H1
- 4. tîHOOOO t-* OOCOP05COCO-^COCOCXibCO<l»--COCOœHtO
CX
«HltHHUM
y. oocomtot-to
lb 0»co o p to CO
WOOOtOibUi
toco
M
lb M
M
I-*00to CX COM CO toCO 05 to to lb 05H CX-IC O
tSO»O’ ®<IO’ 05^ipp3ÎH^l«C0^« MOÇ»
HHœVo>b®W<IH*-5MM®V<®loM
M0<laot0toc0 05l-‘ W0500 00C001<IW«<1
O 00 !-• H CX 00CO lb P
O’ CO lb O CO CO lb w to
0000
HW
H
b
H
COH toco
©• h oibibco co V © tOHW to p tolo CXWW CDto 00COCx'ib CO
Cx! COWCXOOH CO * M COto to 00 COCO00 »3 H 05-J COCOCOH*COCO
CO. cotopooo to <i oo © © ex »- to ex ib 05 ib M 0» co »-*co - i cx oo
çotooo b Wto;
-MI W --aVcoboM.
o* co oo ex cacato co:
© I « OUÇXODM^l-4.
ibooot^tsib ibtoooib: eoto<ii-* to to oc h i
tO©OOOD©MGDlb©: C0C0O©«0D©C0
o t o © ib © © x c o ib © * ibcxibi-toibcxas I
The above totals show that the old interior stocks have
decreased during the week 15,563 bales and are to-night 130,074
bales less than at the same period last year. The receipts at
the same towns have been 18,380 bales more than the same
week last year, and since September 1 the receipts at all the
towns are 81,729 bales more than for the wane time in 1885-86.
477,400
280,865
281,744
Total in sight Jan. 21........... 5,195,751 5,111,934 4,805,610 4,649,366
. .F. ns gsilHaui vgtg
y ': .: • SP;
> !•.•O
p ,•ÎÜ
! •!
•
D®•X<B
P•
Q
3I I
a 00CO o'Vo M05 CP C0*3toH <1CO 05 00CO H to
C5CO^^00Q0MGOC0CBQ0C;<Q0t00C^tCQ005
COHtOCO*fcO*COOC*<lNfcO*tOC:*CDCB
<£>GCBCD©C*Oi
* O to CO to MC
O
318,368
Tot. receipts from planta’tns 4,532,009 4,455,842 4,332,562 4,143,951
513,742 525,092 358,048 382,415
Net overland to Jan. 1 ...........
Southern consumpt’n to Jan. 1 150,000 131,000 115,000 123,000
Northern spinners' takings to
Jan. 2 1 .................... ........... 1,059,201 1,122,955 879,175 951,199
It will be seen by the above that the increase'In amount In sight
to-night, as compared with last year, is 83,817 bales, the increase
as compared with 1884-85 is 390,141 bales and the increase over
1883-84 Is 546,385 bales.
W e a t h e r R e p o r t s b y T e l e g r a p h . —The weather has been
very favorable for the moving of the crop at the South during
the week. Little or no rain has fallen, and the temperature
has been somewhat higher.
Galveston, Texas.—There has been no rain all the week.
Average thermometer 55, highest 75, lowest 38.
Palestine, Texas.—We have had no rain all the week. Ice
formed on one night of the week. The thermometer has
averaged 53, the highest being 72 and the lowest 29.
New Orleans, Louisiana.—No rain all the week. The
thermometer has averaged 55.
Shreveport, Louisiana.—There has been no rain all the
week. The theimometer has ranged from 28 to 75, averaging 53.
Columbus, M ississippi.—We have no rain all the week.
Average thermometer 46, highest 68 and lowest 20.
Leland, M ississippi.—There has been no rain during the
week. The thermometer has averaged 4‘89, the highest being
73 and the lowest 23.
Greenville, M ississippi.—Telegram not received.
Clarksdale, M ississippi.—Telegram not received.
M eridian, M ississippi.—Telegram not received.^
Vicksburg, M ississippi.—We have had no rain all the
week. The thermometer has averaged 56, the highest being
77 and the lowest 29.
Qloster, M ississippi.—The weather has been cold and dry
during the week. The thermometer has averaged 59, ranging
25 to 79.
Helena, Arkansas.—There has been no rain all the week.
The week has been remarkable for changes in temperature.
Some cotton picked. Average thermometer 48, highest 70
and lowest 22.
•
Memphis, Tennessee.—We have had no rain all the week,
and marketing makes good progress. The thermometer has
averaged 47, the highest being 73 and the lowest 25.
Nashville, Tennessee.—There has been no rain all the week,
The thermometer has averagid 42, ranging from 14 to 65.
Ja n u a r y 23, 1837. t
THE CHRONICLE.
Mobile, Alabama.—It has rained to an inappreciable extent
A le ta v d n a , Egypt,
Jan. 19.
1886-87.
1885-86.
#n “'on * ™
t^16 we©k* The thermometer has ranged
1884-85.
from 29 to 70, averaging 50.
6
Receipts (cantars*)—
Montgomery, Alabama.—It has been showery on one day
This week___
*75,000
85,000
135,000
of the week, the rainfall reaching nine hundredths of an inch.
8inoe Sept. 1
2,412,000
2,378,000
2,623,000
Average thermometer 48, highest 09 and lowest 27.
This
Since
This
S in ce
This I Since
Selma, Alabama.—We have had no rain all the week. The
week. Sept. 1. week. Sept. 1. week.
1Sept. 1.
lowest°5eter haS averaged 46>the highest being 71 and the Exports (bales)—
To Liverpool_______ 8,000 182,000 10.000 161,000
218,000
Auburn, Alabama.—It has rained to an inappreciable
To Continent___. . .
8,000 88,000 6,000 90,000| 11,000
3,000| 91,000
extent on one day of the week, and there was a slight trace of
Total
Europe........
16,000 270,000 16,000 251,0001 14,0001309,000
snow on Tuesday. The thermometer has averaged 47*1, rang
ing from 21 to 65.
6
Birmingham, Alabama.—Telegram not received.
Madison, Florida.—We have had no rain all the week. Manchester M arket .— Our report received bv cable to-night
from Manchester, states that the market for yarns is dull put
Average thermometer 49, highest 69 and lowest 20.
steady, and shirtings are easy. We give the prices for to-dav
Macon, Georgia.—It has rained on one day of the week.
below, and leave those for previous weeks of this and last
Columbus, Georgia.—We have had no rain all the week. year
for comparison :
The thermometer has averaged 40, ranging from 20 to 50.
Savannah, Georgia.—It has rained on two days, and the
1886-87.
1885-36.
been pleasant. The rainfall
Ootl’ i
Oott’n
32« Cop.
reached fifty-four hundredths of an inch. The thermometer
8*4 15«.
8*4 lbs.
Mid. 32« Cop.
M id ,
Iw isC
Shirtings.
has ranged from 31 to 70, averaging 48.
lw is f.
Shirtings.
TTpldt
TTpldt
Augusta, Georgia.—The weather has been clear and bleasA.
4. a> d. s. d.
d.
<L
d. 8. d. 8. d.
ant during the week, with light rain on one day. The
73s ®8
5 7 1a®6 7 1« £>sie 7iiia®83ie 5 8 ®7 1*3
rainfall reached two hundredths of an inch, Average ther73s 08
5 7*396 7*3 531Ä 7 \ «8*4 5 8 ®7 1*3
m0“ eter 43, highest 67 and lowest 10.
7®16—‘7*B18 5 8 « 6 8
5*e
«8*8 5 8 ®7 1*3
73b ®8
5 8 ®6 9
®8
5*4
5 7*3®7 1
Albany, Georgia.—Telegram not received.
73b
5 8 »6 9
5*4
®778 5 7*s®7 1
, Charleston, South Carolina.—It has rained on two days
7Bi«-71516 5 8 « 6 10
®7% 5 7*s ®7 1
3*4
?Mhe
rainfall reaching fourteen hundredths of an
7®18—715ia 5 8 » 6 10
5*4
©76$ 5 7*s®7 1
7*16-7151« 5 8 ®6 10
561e 7*8 ®71116 5 7*3®7 1
in° 40 T” e tkermometer has ranged from 19 to 67, averag7*1«—7l5la 5 9*a®6 lOifl 5*4
*16 ®7®8 5 7*3 97
Stateburg, South Carolina.—It has rained on one day of
SlnWf ^ / njlu8leeefc fell.on Monday. The rainfall reached
highest«'and lowest ”
ATerage «»nnom etor 4« >
Wor^1. Carolina.—We have had rain on one day of
Thw i
the ramfaI11 reaching twenty hundredths of an inch,
the lowestT?16^ ha9 averaged 41>the highest being 02 and
India C otton M o v e m en t f r o m a l l P o r t s .— The receipts
and shipments of cotton at Bombay have been as follows for
the week and year, bringing the figures down to Jan. 20.
BOMBAT RECEIPTS AND SHIPMENTS FOR FOUR TEARS.
¡Shipments this week I Shipments Since Jan. 1.
Year Great Conti
Great
Conti
BriVn. nent. Total. Britain nent.
Total.
O
OC
CO
OC
CO
O
C
O
CO
OG
2,000 10.000
2,000 7.000
5,000 4.000
22,000 25,000
12,000
8.000
9.000 10 .00 0
9.000 9.000
47,000! 46.000
44.00C
23.000
33.000
56.000
Receipts.
This
Tear.
Week.
52.000 43.000
83.000 33.000
42.000 21.000
102,000 44,000
126,000
95.000
58.000
157,000
According to the foregoing, Bombay appears to snow an
increase compared with last year in the week’s receipts of
10,000 bales, and an increase in shipments of 3,000 bales, and
the shipments since Jan. 1 show an increase of 19,000 bales*
7*4 ® 778 5 9*3®6 10*3 53lfl
1
5 7*s®7 1
E a st I n d ia C r o p .— F rom the B o m b a y C om p a n y ’s (Lim ited)
C otton R eport o f date B om b a y , D ec. 17, w e h av e the fo llo w °.in^ I£tn.haa fallei* In the Berars, hut the weather has now cleared
up, and the damage after all will probably not be so serious as was at
first anticipated. Rain has also fallen heavily In the Barsee and Julgaum districts, where it is feared that considerable damage has been
t? 6/,
as well as the quality of the cotton will proba^
thereby. Although no rain has fallen recently in Guzetni’ ^®C0Siuts of tllB growing Broach crop are not quite so favorable, as
J S ?Btb®r otherwise has not been of the rest, but prospects for this
growth on the whole continue good. Of the Dholferah crop reports
generally are fairly satisfactory, but In the Bhownugger districts the
plants have suffered somewhat from continued clouay weather. Arri
vals, which still consist chiefly of Bengals and Oomrawuttee desorln*e?n onJi free Beale, but we may expect a temporary falling
off In receipts from the latter districts, in consequence of the recent rains,
J ute B utts , B a g g in g , & c .--T h e m arket fo r b a g g in g h a’
been quiet and prices are easier.
Sellers are d o in g som e
shading, and q u otation s are 6 c. fo r 1 % lb ., 6 i^o. fo r
lb.
7 f§ 7 ^ c . fo r 2 lb. and 7 % c. fo r standard grades. N o ch a n g e is
reported in butts and o n ly sm all lots are m o v in g at 1 11-16(3
l-¥ c. fo r paper grades and 2 @ 2 % c . fo r b a g g in g qualities.
S h ip p in g N e w s .— T he exp orts o f c o tto n fr o m th e U n ited
^ o t^ J 'u e ,past cJ,r®?k » as Per la tes t m a il returns, h a v e reached
ioU,oo7 bales. So fa r as th e Southern ports are con cern ed , these
are th e sam e exp orts reported b y telegraph, a nd published in
the C h r o n ic l e last F riday.
W it h rega rd t o N ew Y o r k w e
in clud e th e m anifests o f a ll vessels clea red u p to T h ursday.
The movement at Calcutta, Madras and other India ports for
« ! l a8turepoJrted week and 8ince the lst of January, for two New Y ork —To Liverpool, per steamers Adriatic, 1.684
Bothnia, 807---- City of Chester, 1,164___ Egypt, 2,310
C kL kas J?®en
follows- “ Other ports” cover Ceylon,
Tuticonn, Kurrachee and Coconada,
7 *
St. Ronans, 4,344__ Wisconsin, 951...............
Shipments fo r the week.
Great
Britain.
Conti
nent.
Shipments since January 1.
Total.
Great
Britain.
Continent.
1,000
2,000
Total.
Calcutta—
1887.........
1886.........
Madras—
1887.........
1886.........
HI others—
1887.........
1886.........
3.000
3.000
1,000
2,000
4.000
5.000
6,000
6,000
........
........
........
1,500
1,000
3.000
2.000
1,000
2,000
4.000
4.000
3.000
5.000
4.000
2.000
7.000
7.000
6,000
5,000
2,000
4,000
8,000
9,000
10,500
12,000
5.000
4.000
15,500
16,000
7.000
8.000
1,500
1,000
total a ll1887.........
1886.........
thlhn n i°ve^ 0tal l £0r
™***bow that the movement from
M
other than Bombay is 1,000 bales less than same
7^ax‘ f 0r the 7 hole of India>therefore, the total
JanuaTy l> 1887> and for the corresponding
iwiods of the two previous years, are as follows:
EXPORTS TO EUROPE FROM ALL INDIA.
1887.
1886.
1885.
Shipments
wall Europe
from—
This
week.
SSSfes:
12,000
8,000
52,000
9,000
15,500 _ 9,000
33.000
16.000
9,000
5,600
Total___ _
42,000
10,600
20,000
67,500 18,000
49,000 14.600,
52,600
Since
J a n . 1.
ALEXANDRiA R e c e ip t s
and
This
week.
Since
Jan. 1.
This
week.
Since
Jan. 1.
S h ip m e n t s .— Th rou g h a r r a n t -
S v e ^ la n d 6^ 6 ^ - 11 MeS8r8, Davies’ Benac& & Oo.,gof
themW i. Aiexandria’ we now receive a weekly cable of
are fu°veme.nts of cotton at Alexandria, Egypt. The followino
¿ 2 porS i te anv 8hi?ments !or the p £ t week and for the
‘«ponding week of the previous two years,
11 260
To Hull, per steamers Otranto, 2 9 9 ..................... . . " ...............
’ 09 a
To Havre, per steamer La Gascogne, 1,714.. ...................... i 714
To Bremen, per steamer Werra, 1,447.............
.................... 1 447
To Hamburg, per steamer Rhaetia, 975............. . I ! ! ! ! * ! " ” **
’ 97 «
To Rotterdam, per steamer Rotterdam, 205 . . . . ....................
205
To Antwerp, per steamer Belgenland, 873.....
..................
»73
To Gothenburg, per steamer Othello, 1,246........ 1 246
To Barcelona, per steamer Burgundia, 1 1 4 ............. ’ l l 4
To Genoa, per steamer Olympia, 388....................... 388
New Orleans—To Liverpool, per steamers Explorer!" 3,22 5
Glengarry, 7,500 . ..Leonora, 6 ,10 0 ....Mariner, 2,760’ " ’
Niceto, 5,100— Port Jackson, 5,527.............................
’ 30212
To Havre, per steamers Suez, 4,100___Trojan, 4,350."."." ner
*
ships Charles, 5,342— Heinrich, 4,922___Lydia Skolfleld,
4,0<>5— per barks Chrysolite, 3,551__ Peppina, 2,0 75 .... 28 405
To Bremen, per steamer Corona, 4 ,8 1 4 ............. ................
4 ’« 14
To Hamburg, per steamer Alvah, 600................... ...!.!!!!* !!*
’co o
To Antwerp, per steamer Palm Branch, 2,400.......... !!!!!!"* " 2 400
To Barcelona, per steamer Miguel M. Pinillos, 1,600" " " per *
bark Resuelta, 3 2 4 ........................................................... 1924
To Genoa, per steamer Huntsman, 5,502.................." ! ! ! ! ! ! ! ! 5*502
Mobile—To Liverpool, per bark Keewaydin, 2,227........ . . . . " ! !
2*227
Savannah—To Liverpool, per stteamers Annie, 5 ,1 4 1 ....Fern*
lands, 5,368— per hark Ossuna, 2,801 .............................
13 310
To Havre, per barks Belvidere, 2,600___Ocean, 1 ,8 7 1 ..!!" ! 4*471
To Amsterdam, per steamer Benison, 4,678....p e r bark
’
Alexander Keith, 2,243......................................................
6 921
Charleston—To Liverpool, per bark Capenhurst, l,2 3 o !! ! ! . " ’ " 1*230
To Bremen, per steamers Yolo, 3,300___Wyvern, 4,400 *.!!" 7*700
To Barcelona, per steamer Glenfyne, 3,850................... ....... 3 ’«50
Galveston—To Liverpool, per steamer Empress, 5,554 " ner
’ W
bark Eos, 1,235...............................................
« 7 «<j
To Salerno, per brig Carl Gustaf, 1 ,1 20................ ! . " ! " ....... 1 1 2 0
Wilmington—To Liverpool, per steamer Elstow, 4,973’
tier
’
brig Diana, 1,128..................................
v
«101
To Havre, per bark Godeffroy, 1,860..........i « e o
Norfolk—To Liverpool, per steamer Oxenholme, 2,700 "tier
’
ship Charles Bal, 2,539 ..................................
*
« . , 0«
To Ghent, per bark Lovspring, 1,937 .................. 1*937
Newport News —To Liverpool, per steamers------- , l i , 4 9 5 " . " " n ’4 4 «
Baltimore—ToLiverpoo), per steamers Alieia, 2,570...Caspian
*
300— Oranmore, 1,328
Oxenholme, 1,860.............
6 058
To London, per steamer Germania, 149...............
***
’ 140
To Bremen, per steamer Weser, 880........................... 880
Boston—To Liverpool, per steamers Norseman, 2,350.". "paimyra, 633....Venetian,2,706........................................ .
5 680
PHiLADELPmA—To Liverpool, per steamer Indiana, 6 3 3 ............
’Ooo
To Antwerp, per steamer Pennsylvania, 5 5 0 .......... ............ "
X50
Total..
. . . . . . . . . . . 180,58
THE CHRONICLE.
u s .
The particulars of these shipments, arranged in our usual
form, are as follows:
LiverRotterdam,
B are»
pool
Amsterd.,
Iona,
Genoa
Brcm. Anlvo'p
and
andT Goth en- and
and
Lon
don. Hull. Havre. Hand). Ghent. burg. Salerno . Total.
502 18,521
299 1,714 2,422 1,078 I,2 i6
New York. 11,* BO
7,426 73.8 57
........ 28,4u5 5,414 2,400
2,227
Mobile....... 2,227
........ 24,702
6,921
........ 4,471
Bavannah..
3,850 12,780
7,700
Charleston. 1 ,2*0
1,120 7,909
Galveston. 6,789
7,961
1,860
Wllmingt’ n
7,176
1,937
........
........
.........
N orfolk.... 5,289
11,495
Newport N. 11.4M5
7,087
“ 880 — • .......
Baltimore. 6,207 .".’. ‘ I!
• 5,689
Boston . . . . 5,689
1,183
550
Philadel’ia.
633 ..................... ........
.........
T o ta l... 100,392
299 36,450 16,416 12,886 1,246 12,893 180,587
Below we add the clearances this week of vessels carrying
cotton from United States ports, bringing data down to the
latest dates:
[V ol. 2L1V,
The opening, highest, lowest and closing prices of futures for
Liverpool for each day of the week are given below. These
prices are on the basis of Uplands, Low Middling clause, unless
otherwise stated.
CP* The prices are given in pence and 6llht, thus: 4 6 3 means
4 6 3 -6 4 d .. and 5 0 1 means 5 l - 6 4 d .
T u e s ., J a n . 1 8 .
M on ., J a n . 1 7 .
8 a t„ Jan, 1 5 .
Oven H ig h Low. Clos. Open H ig h Low. Oloi. Open H ig h Low. Olot
A.
A.
A.
A.
A,
A.
A.
A.
A.
A.
A.
A.
January....
Jan.-Feb....
Feb.-March
Mar.-April..
Aprll-May..
May-June .
June-July..
July-Aug...
Aug.-Sept..
S 13
5 13
513
514
615
517
519
5 SI
5 23
513
513
513
5 14
515
517
516
521
523
5 13
518
513
514
5 15
517
519
5 21
523
513
513
513
5 14
515
517
5 19
5 21
523
5 13
512
512
5 13
515
516
518
620
5 22
5 13
512
512
513
515
516
518
520
5 22
513
512
512
5 13
514
516
518
5 20
5 22
5 13
512
512
513
5 14
516
5 18
5 20
5 22
5 11
5 11
5 11
512
5 13
515
5 17
519
6 21
512
5 11
5 11
512
513
515
5 17
5 10
5 21
5 11
511
511
5 12
5 13
5 15
5 17
5 19
5 21
0 12
511
511
512
513
515
5 17
5 1»
5 21
G a l v e st o n —For Havre—Jan. 14—Bark Jolianne, 1,540.
N ew Orleans —For Liverpool—Jan. 14—Steamer Albula, 2,793— Jan.
F r i., J a n . 2 1 ,
W e d n e i» J an 1 9 . T h a n ., J a n . ‘J O.
15 —at earnera Asturiano, 3,000; Cam Martb, 2,0o0; Yucatan,
3,156....Jan. 17—Steamers California, 2,900; Federico, 5,257;
Plat •, 2,232; Ship Kyerson, 3,900.
•Open H ig h Low. Olot. Open H ig h Low. Olot. Open H ig h Low. Olot
For H avre-Jan. 14—Bark Patagonia, 4,070— Jan. 1 8 - Steamer
A.
A.
A.
A
A.
A.
A.
A. A.
A.
A.
___ _
_
__
Ganges, 6,450.
'
<*For Bremen—Jan. 14—Steamer Belair, 3 ,3 4 4 ....Jan. 18—Steamer January — 511 5 12 5 11 512 5 12 512 512 512 512 512 511 511
Angerton. 6,912.
_
,
’
5 11 6 11 511 511 5 12 512 5 11 511 5 11 511 511 511
For Barcelona—Jan. 14—Steamer Hernan Cortes, 4,238— Jan. 2 0 - Jan-Feb...... 511 511 511 511 512 512 5 11 511 512 512 511 511
Feb.-March
Bark Habana, 934.
S a v a n n a h —For Bremen—Jan. 14—Steamer Cyanus, 4,575— Jan. 15— Mar.-Apr .. 512 5 12 512 5 12 513 513 512 5 12 5 12 512 5 12 5 12
Apr.-May .. 518 513 513 5 13 514 514 513 513 5 14 5 14 5 13 5 13
Steamer Strathmore, 5,923,
For Barcelona—Jan. 14—Steamer Vindobala, 4,550.
May-June.. 515 515 5 15 5 15 516 516 5 15 515 515 5 15 515 515
B r u n s w i c k —For Liverpool—Jan. 15- Steamer Lord Derby, 4,150.
June-July.. 517 5 17 5 17 5 17 5 18 518 517 517 517 517 5 17 517
C h a r l e s t o n —For Havre—Jan. 14—Bark Mercur, 1,850.
July-Aug .. 519 519 519 519 520 520 5 19 5 19 5 19 5 19 5 19 5 1»
For Barcelona Jan. 17—Brig Chill, 510.
521 5 22 6 22 5 21 5 21 5 21 521 5 21 5 21
N o r f o l k — For Liverpool—Jan. 18—Baik Maiden City, 2 ,950....Jan. 19 Aug.-Sept.. 5 21 5 21 5 21
—Ship Lizzie Wright, 2,818.
W e s t P o in t — For Liverpool—Jan. 14—Ship Alice M. Minotte, 3,735.
B oston —JOor Liverpool—Jan. 14—Steamer Istrian, 1,594.
B a l t im o r e —For Havre—Jan. 15—Steamer Lord Warwick, 2,102.
B R E A D S T U F F S .
For Antwerp—Jgn. 15—Steamer New Guinea, 1,100.
P hiladelphia —For Liverpool—Jan. 18—Steamer Lord Gough, 1,744.
F r id a y . P. M., January 21,1887.
Below we give all news received to date of disasters to ves
sels carrying cotton from United States ports, &c.:
steamer <Br.), loading at Charleston for Sebastopol, was on
Are Jan, I'd. and 1,300 bales of cotton were damaged.
D otterel , steamer (Br.), before reported. The total number of bales
of cotton, ex-steamer Dotterel, from Savannah, damaged by fire at
Genoa, was 1,400. Many bales were thrown into the sea. The
wharf-shed was consumed.
M a h a r a j a h , steamer (Br.>, Ainslee, from Savannah for Bremen, before
reported, put Into Sr. Michaels, Deo. 15, in distress, sailed thenoe
prior to Jan. 17 for destination.
B
e s s a r a b ia ,
Ootton freights the past week nave been as follows:_______
Satur.
Mon.
Tnet.
Wednes. Thurs.
Fri
lL.23tr,
U 8i23128 l l 6423iî8
Liverpool, steam d. Ilf
Do
sall...d.
383 1332 %® 1332 % 3 1332 % ® i332 % ® ls32
Havre, steam ... c.
716
Do sail........ e.
716
716
718
Bremen, steam ..c. 7ie'31a
Do
sail ....c .
7ie
716
716
Hamburg, steam, c.
7m
Do
sail....c.
50*
50*
50*
50‘
50*
Amst’d’m, steam c. 50*
Do
sail... c.
Beval, steam— d. Ue*^5-!« % ® B16 % ® B18 % ® B1S % ® B16 %®5ie
Do sail,....... d
44
44
%
44
Barcelona,steamd. *4
1B«S4
1B-4
1B.4
1B<4
Genoa, steam .... d. *4
®S2
«S3
®32
®sa
Trieste, steam...«*.
532® l l 64 582®ll6A
Antwerp, steam.«*.,5,^®11«* 632® Hg4 63a® iif4 633®
*[ Per 100 lbs.
L iv e r p o o l .—By cable from Liverpool we have the following
The flour market has been dull, and prices, in sympathy with
the course of wheat, have shown a downward tendency, call
ing for some further revision of quotations. The low grades
are best supported. The decline in the higher grades has led
to some speculative business in them, looking to a reaction.
Rye flour is also decidedly lower under fairly full supplies,
and in cornmeal and buckwheat flour also some reduction has
been accepted.
The speculation in wheat for future delivery showed some
strength until Wednesday, when the cable advices were dull,
nearly stopping the business for export, and a fall of rain was
reported in California, which was regarded as greatly improv
ing the prospects of the crop in that State. The effect was a
drop of one cent a bushel, but this decline let in freely the
orders for shipment and prices became steadier. To-day,
however, there was a fresh decline, and “ too much wheat ”
was generally the cause assigned.
DAILY CLOSING PRICES OF NO. 2 RED WINTER WHEAT.
Sat.
Mon.
January delivery............... 92*8 - 92%
February delivery............. 92%
92%
94%
March delivery............... . 94
April delivery.................. 95%
95%
May delivery.... . . . . . . . . . . 96% 96%
June delivery................... 97% 97%
July delivery..................... 97%
98
August delivery ............... 98
98%
99
September delivery....................
Tues.
92%
92%
94%
95%
96%
97%
97%
98%
99
Wed.
91%
91%
93%
94%
95%
96%
96%
97
97%
Thurs. Fri
91%
91%
92
92
93%
93%
91%
94%
95%
95%
96%
96%;
97
97
97%
97%
98%
98%
Indian corn has sympathized largely with wheat, showing
etatement of the week’s sales, stocks, See., at that port. We
«dfl previous weeks for comparison._______________________
much strength until Wednesday, when a considerable decline
took place. The export business has amounted to a few boat
Dec. 31. Jan. 7. Jan. 14 Jan. 21.
loads daily, and mostly of “ steamer No. 2 mixed,” which sold
50 000
65.000
37.000
51.000
Bales of the week............bales.
The straight white and
3.000 to-day at 4fUg@47c. in elevator.
7.000
4.000
3.000
Of which exporters took —
2.000
4.000
2.000
3.000
O f Which "speculators took,.
33.000
44.000
37.000 yellow grades are in some demand at full prices.
27.000
Bales American........................
Actual e x p o r t............... - ---•
Forwarded.................................
Total stock—Estimated...........
Of which American—Estim’d
Total import of the week........
Of which American.............
Amount a flo a t ...... . . . . . . . . . . .
Of which Am erican.............
8,000
18.000
672.000
487.000
146.000
127.000
326.000
4.000
34.000
728.000
534.000
133.000
107.000
308.000
290.000
10.000
24,000
766.000
578.000
127.000
113.000
288.000
261,000
8,000
31.000
820,000
624.000
138.000
114.000
244.000
220.000
The cone of the Liverpool market for spots and futures each
d*y of the week ending Jan. 21, and the daily closing prices
• f spot cotton, have been as follows: _____________________
Spot.
M arket, ?
12:30 p .m . J
Saturday Monday. Tuesday. Wednes Thursd’y. Friday.
Steady.
5%
5%
Barely In buyers’
favor.
supported
5%
U p l’d s . . . .
M id . O rl’ns.
M id . Sales .
S p ec, & ex p .
1 0 ,0 0 0
1 ,0 0 0
6%
8 ,0 0 0
1 ,0 0 0
Futures.
M arket, {
12:30 p .M.)
Quiet.
Quiet.
Market, {
4 p. m. (
V ery
steady.
Barely
steady.
5%
5%
7,000
500
Small
inquiry.
Small
inquiry.
Quiet.
5%
5 3i8
5S16
5®ifl
8,00C
500
5b18
&B16
8 ,0 0 0
1 ,0 0 0
8 ,0 0 0
1,0 0 0
Easy at
1-64 de
cline.
Quiet.
Steady.
Steady at
1-64 de
cline.
Easy.
Steady.
Barely
steady.
Easy.
DAILY CLOSING PRICES OF NO. 2 MIXED CORN.
January delivery........ . . . .
February delivery....... . . . .
March delivery.......... . . . .
Ap ii delivery— . . . . . . . . .
May delivery...............
Sat.
47%
48
49
50
Mon.
47%
48%
49
50
50%
Tues.
47%
48%
49%
50
50%
Wed.
47%
43%
. . . .
50%
Thurs.
47%
48
48%
49%
50%
Fri.
47%
43
43%
49%
50%
Oats have been dull and unsettled, as well as quite irregular,
not only between spots and futures, but between white and
mixed. The tendency has latterly been downward, and the
decline in white oats is for the week a material one. To-day
the market generally was stronger, with the regular trade
quite brisk.
DAILY CLOSING PRICES OF NO. 2 OATS.
Sat.
35%
35%
35%
36%
36%
Mon.
35%
35%
36
36%
36%
Tues.
35%
35%
36%
36%
Wed. Thurs.
35%
35%
35%
35%
35%
35%
36%
36%
36%
36%
Fri.
36
35%
36
36%
36
Rye is dull. Barley has been somewhat depressed, but
closes steadier. Barley malt is in fair demand and steady*
Buckwheat is lower, but closes steady.
THE CHRONICLE.
J a n u a r y 2 2 , IÖ87.J
The following are the closing quotations :
FLOUS.
Fine..................9 bbl. $2 3 5 « $3 10 Southern bakers’ and
Superfine................... 2 5 0 « 3 35
family br d s .. 39 bbl $4 25 1 $5 00
Spring wheat extras. 3 409 3 60 Bye floor, suporhne.. 2 83 9 3 00
Minn, clear and stra’t. 3 65 9 4 65
"Fine...................... . 2 20® 2 30
Winter sliipp’g extras. 3 359 3 65 Corn meal—
Winter X X & X X X .. 3 809 4 50
Western,
___. . . . 2 4 0 » 2 80
4 509 5 15
Patents...........
Brandywine............ 2 75«* 2 85
•Strathem shoots. . . . . . 3 25 9 3 50 B’kwh’t flour, $3100 lbs 1 7 5 » 1 85
South’n com. extras.. 3 65 9 4 00
GRAIN.
Wheat—
Spring, per bnsb.
Spring No. 2. new
Bed winter, No. 2
Bed w in ter........
White...................
Corn—West, mixed
West. mix. No. 2.
West, white........
West, yellow____
White'Southern..
Yellow Southern.
Bye—
State & Pa., 9 bush.
82 ®
91 C
92 9
31 9
82 9
44 9
47 % $
46 9
45 @
50 9
47 9
56 9
Oats—M ixed.......... .. 34 •
97
White........................ 371«»
92
No. 2 mixed............. 355a ■>
93
No. 2 white .............
96
Barley—Canada........ 68 ®
Western.................... 60 f*
95
491a
Two-rowed State___ 60 @
49
Six-rowed State..... 65 9
51
Malt—
50
State, 6 -r o v e d ...... 77 ®
54
State, 2-rowed........ 68 9
50
Western....... ............ 7 5 ®
Peas—Canada............ 64 »
58
Buckwheat.................. 53 »
Hour.
Wheat.
Oat*.
Com.
Barley.
85
73
85
t>6
54
Rye.
Bbl*.196 Urn Bush. 601b* Bush.bO lbs Bush.32 lbs BushAS lbs Buth.Mlla
Milwaukee...
T o led o..........
Cleveland...
St. Louis. ..
Peoria..........
Duluth.........
Tot. wk. ’87.
Same wk.’83.
Same wk.’So.
Sine» July 24
1886-7........
1885-6........
1884-5........
52,348
7,168
4,067
1.3)4
21,861
1,833
16 i,745
81,341
101 126
32,500
91,422
6,500
221,558
29,280
59,149
66,696
14,000
503,851
140,700
43,150
5,741
76,550
4,000
2,900
4,143
6,500
74,700
143,125
1,597
44,400
14,400
7.700
6.00J
218.212
91,573
205,091
951,250
403,120
1,715,586
1,818,900
517,818
2,438,124
919,740
530,979
1,037,812
421.389
397,783
431,932
31,611
23,565
41,108
5,169,926 61.363,591 46,800.815 35,896,042 14.970,059
4,100,401 41,635.346 45,977,246 31,619,970 18.345,733
5,333,569 75,769,222 45.001,930 31,973,856 10,677,955
1,338,845
2,093,805
3,413,175
The receipts of flour and grain at the seaboard ports for the
week ended Jan. 15, 1887, follow:
Flour,
At—
bbls.
Sew York . . . . . 146,701
Boston............ 40,959
Portland . . . . ..
M on treal.......
5,507
Philadelphia... 25,243
B altim ore...... 69,910
Richmond........
5,148
Sew Orleans... 10,231
Wheat,
bush.
345,950
77,075
Corn,
bush.
248;684
121,598
19,800
106,082
168,413
16,009
97,707
91,634
185.257
14,836
176,590
Oats, Barley, . Rue,
bush.
bush.
bush.
302,200 62,03«
107,736
400
4,082
7,950
MOO
70,833 43,200
16,798
4,775
21,092
3,600
1,500
Total week... 303,604 831,036 838,599 531,334’ 106,838
dor. weok ’86.. 154,61613|j75,075 1,438,813 1.356,256 126,693 13.032
5,500
The exports from the several seaboard ports for the week
eadiag Jan. 15, 1887, are shown in the annexed statement:
Exports
from—
Wheat.
Com.
Bush.
New York 1,083,856
Boston...
16.222
Portland.
34,599
N. News.
67,300
Philadel.. 341.956
Baltim’ri 219,181
N. Orl’ns.
95,902
Kichm’nd
Bush.
201,103
124,203
32,000
221,597
154,486
Tot. w’k 1,889,016 733,389
fl’me time
1886.
198,708 1,952,159
Flour.
Oats.
Rye.
Peas.
Bbls.
67,788
53,439
1,551
Bush.
365
Bush.
4,000
........
Bush.
10,139
6,489
8,354
19,986
41,207
443
2,830
........
4,000
24,981
192,247
365
175,799
140,273
1,524
The visible supply of grain, comprising the stocks in granary
at the principal points of accumulation at lake and seaboard
ports, and in transit by rail and water, J an. 15, 1887 :
In store at—
Sew Y ork . . . . . . . .
Do afloat.........
A lb a n y ...............
Buffalo.................
Chicago................
Do afloat........
Milwaukee...........
Do afloat........
Duluth.................
Do a floa t......
Toledo..................
Do afloat........
D etroit..... . . . . . .
O sw ego..............
St. Louis...............
Cincinnati...........
Boston. . . . . . . . . . .
Toronto................
Montreal.............
Philadelphia. . . . .
P eoria ..... . . . . . . .
Indianapolis. . . . .
Kansas C ity ......
Baltimore. . . . . . . .
Do afloat........
Minneapolis. . . . . .
St. Paul................
Wheat,
Com,
Oats,
bush.
bush.
bush.
9,953,600 3,980,251 .,065,447
858.000
16,600
25,000
12,022
40,700 117,700
3,123,555
165,378
4,811
13,281,251 5,508,819 995,421
128,400
789,107
3,401,371
2,991
9,876,000
141.000
4,240,473
298,'152
38,122
22,500
2,550,625
219,109
14,110
170.000
110,000
4,126,831 2,509,815 ¡.546,327
77,000
28,000 134,000
388,365
215,684 401,315
145,339
16,678
269,251
61,108
68,113
. 878,516
662,655
79,830
10,479
255,909 948,408
131,870
174,150 335,272
306,831
332,673
16,585
513,649
397,755
7,339,378
731,000
Bye,
bush.
41,327
10,000
11,000
35,253
156,534
Barley,
bush.
269,889
90,000
181,700
219,685
290,030
9,101
332,124
59,349
16,800
38,918
27,000
1,093
4,249
21,676
16,673
987
7,414
1,386
Tot, Jan.
Tot. Jan.
Tot. Jan.
Tot. Jan.
Tot. Jan.
Wheat,
bush.
........
94,000
54,200
Corn,
bush.
.........
.........
......
Oats,
bush.
........
.........
......
Rye,
bush.
- .........
......
.........
Barley.
bush.
" * ’ **
15. ’87. 62,825,506 15,768,856 4,807,139 457,750 2,524,007
8, *87. 63,345,689 15,077.848 4.877,847 438.607 2.724.0^9
1 6 ,’86. 57,104,286 7,076,606 2.292.193 760,152 2,066.882
1^, ’85* 42,776.970 6.414.149 2.443.351 452.792 1,73a 029
19, ’84* 34,890,874 11,035,810 5.887,257 2,580,341 3,094,743
* Minneapolis and St. Paul .not included.
37*2
41
363jt
39*3
80
68
62
69
The movement of breadstufte to market is indicated in ti e
statements below, prepared by us 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. 15, 1887, and since
July 21, for each of the last three years:
Btetivts at—
Instore a t—
On Mississippi...
On lakes..............
On canal & river.
127
16,868
690,000
81,134
31,000
78,748
181,415
51,812
9,602
T H E D R Y GOODS T R A D E .
N ew Y ork , Friday, P. M., Jan. 21, 1887.
The situation in the dry goods trade has undergone farther
improvement the past week, and a fairly satisfactory business
was done in the wholesale branches, making due allowance
for the early stage of the season. Package buyers from nearly
all distributing points in the West and South have appeared in
the market in large numbers, and while some have hardly
got to work as yet, operations on the part of others have
reached an important aggregate amount. Staple and fancy
cotton fabrics were fairly active in first hands, but selections
were mainly governed by near prospective requirements, and
there was not apparently the least tendency toward specula
tion. Domestic woolen goods were a trifle more active in the
fore part of the week, but a subsequent announcement that
11,000 pieces 6-4 heavy clothing woolens will be peremptorily
sold at auction the coming week had a somewhat disturbing
effect upon tbe market, and caused many intending buyers to
defer operations until the results of the sale can be ascertained.
Foreign goods have met with rather more attention, but the
demand was chiefly restricted to certain specialties required
for early distribution. Prices of both domestic and imported
fabrics are steadily maintained a3 a rule, and some descrip
tions of the former have slightly appreciated during the week,
without checking their sale.
D omestic C otton G oods . —The exports of domestics from
this port for the week ending January 18 were 3,122 packages,
including 1,207 to China, 44S to Chili, 392 to Hayti, 863 to
Argentine Republic, 201 to Uruguay, 143 to Brazil, &o. Plain
and colored cottons were more active in the hands of agents
and leading jobbers, and though transactions averaged light,
selections were numerous, and reached a very fair aggregate
amount. Prices ruled firm all along the line because of the
limited stocks on hand, and some makes of wide sheetings»
plaid osnaburgs, &o., have been slightly advanced by the mill
agents. Print cloths were in moderate demand and firm on
the basis of 3%c.@3 7-16c. for 64x64s and 2 15-16c.@3o. for 56x
60s. Stocks last Saturday, and for the three previous years,
were as follows:
Stock o f Print Cloths—
Held by Providence manuf’rs.
Fall River manufacturers...
Providence speculators........
Outside speculators (est)......
Jan. 15,
1887.
80,000
46,000
42,000
40,000
Total stock, (pieces)........... 208,000
Jan. 16, Jan. 17,
1886.
1885.
94,000 439,000
33,000 419,000
286,000 320,000
30,000 300,000
Jan. 19,
1884.
103,000
287,000
266,000
75,000
413,000 1,478,000
731,000
Printed calicoes were in moderately good demand, and
printed lawns, sateens, foulards, ginghams, wash dress fabrics,
seersuckers, white goods, scrims, quilts, table damasks and
cotton hosiery were severally distributed in liberal quantities
at firm prices.
D om estic W oolen G oods . —The demand for men’s-wear
woolens was only moderate as regards heavy Fall fabrics for
next season, though some fairly good orders for overcoatings,
suitings, &c., were placed in the early part of the week.
Light-weight cassimeres and worsteds continued to move
steadily on account of back orders, but new business was
chiefly of a hand-to-mouth character. Satinets were fairly
active at times, and there was more inquiry for Kentucky
jeans and doeskins at first hands. Cloakings have ruled quiet,
but there was a very fair demand for Jersey cloths by the
manufacturing trade. All-wool and worsted dress goods were
more active in first hands, and agents continued to make
large deliveries of leading makes in execution of back orders.
Flannels and blankets were mostly quiet in agents’ hands, but
prices remain firm, and there was only a light re-assorting
demand for woolen shawls and skirts, as usual at this stage of
the season. Carpets continued to move steadily, and current
quotations are very firmly maintained by manufacturers*
agents.
F o r e ig n DrY G oods have shown rather more animation in.
importing circles as regards new business, and there was a
very fair movement in certain specialties on account of back
orders. Wash dress goods were more active, and all-wool and
worsted dress fabrics were distributed in fair quantities.
Silks continued sluggish, but some good-sized orders for seal
plushes were placed for next season. Mens’-wear woolens
were in irregular demand, and there was a moderate business
in linen goods, lacos, embroideries, hosiery, &c., but fabric
gloves ruled quiet in first hands, jg
IVOL. XLIV.
THE CHRONICLE,
128
Πa t x ft jflift t t
a n d
^ o t t i ß u
S ä n k e
© t in it ïô .
p ja tt h g t s .
F O R E IO N .
C A N A D IA N .
Hong Kong & Shanghai
Bank o f Montreal.
C A P IT A L , - - SU RPLUS, - - -
a tx fl
B A N K IN G C O R P O R A TIO N •
$ 1 2 ,0 0 0 ,0 0 0 G old. Paid-up Capital...............................................
- $6 ,0 0 0 ,0 0 0 G old . Reserve fo r Equalisation o f Dividends. . . .
600,000
Reserve Liability o f Proprietors................
C O L O R A D O
Consolidated
7,500,000
c . F. 8MITIIER8, President.
The Corporation grant Drafts, Issue Letters o f
W. J. BUCHANAN, General Manager. Credit fo r use o f Travelers, and negotiate or collect
N os.
NEW YORK OFFICE:
S9 & 61 W A L L S T R E E T ,
Bills ratable at Bombay, Calcutta, Singapore,
Sal non, Manila, H ong Kong, Foochow. Am oy,
Shanghai, Hankow, Yokohama, H logo, San
FrLASisco anc London.
Buy and Sell Sterling Exchange, Francs and Cable
Transfer grant Commercial and Travelers’ Credits
available In any part o f the W orld ; Issue drafts mi,
and make Collections In, Chicago and throughout the
Dominion o f Canada.
L o n d on Office. N o. 2 2 A bch u reh Lane.
Imperial Bank of Canada
Blake, Boissevain & Co.,
LONDON,
ENGLAND.
N e g o t ia t e Railway, State and City loans.
E x e c u t e orders fo r Bonds, Shares, etc., on Com
mission, and transact a general Banking and
Commission Business.
S p e c ia l a t t e n t io n given to the execution o f
orders fo r Securities on the New York, L on
don and Amsterdam Exchanges In correspond
enee with
BRANCHES IN ONTARIO.
y..*
ONE V
Direct Line to France.
GENERAL TRANSATLANTIC CO.
B etw een N E W Y O R K and H A V R E .
From Pier (new) 42, North River, fo o t o f Morton St
L A CHAMPAGNE. T ra u h ......| a t., Jan. 22, 2 P . M.
L A BOURGOGNE. Franguel... .Sat., Jan. 29.8 A . M.
L A BRETAGNE, de Jousselm ...Sat., Feb. 5 , 2 P .M .
Travelers by this line avoid both transitby Engllsn
railway and the discomforts o f crossing the Channel
AND
.« .
fc a s a r isssu .
ANCHES IN NORTHWEST.
A D O E P H B O IS S E V A IN & CÖ.
W innipeg,
Brandon.
Calgary.
Agents In London :
1 Agents In New York :
Lloyd’s. Barnett’s & Bos-I B a n k o r M o n t r e a l ,
P r a n p t e r t ^ e n t lo n paid to collections payable In
* ^ p 1proved Canadian business paper discounted at
t h r e a d O f f i c e on reasonable terms, and proceeds
TŒ r s ? n A m e H c a n t ó a n d Sterling Exchange.
^PRTOg'o^PASSAGKOnoludlng wine):—To H a v re First cabin, *100 and *80; second cabin, *60 : steerage, *22—Including wine, bedding mid utensils. Beturn tickets at very reduced rates. Checks on Banque
Transatlantique, Havre and Paris,In amounts U) suit.
A m sterd a m , H o lla n d .
Heinemann & Co.,
62 Gresham House, £ . C.,
EONDON.
M e r c h a n t s ’ Bank
S o li c i t accounts and agencies o f Banks, Railways
Corporations, Firms and Individuals upon
OF CANADA.
favorable term s; also orders fo r the pur
chase and sale o f Bonds, Shares, &c., &c. on
Capital, • • • $5,799,200 Paid Up.!
the Stock Exchange.
R e s e r v e , ...........................$1,500,000 I n t e r e s t allowed on Deposits, subject to 60-days
sight drafts, at Bank o f England rate, and
P
^ Y
l t Œ
Î S ' ANDERSON, Esq.
one-percent below that rate subject to
H E A D O F F IC E , M O N T R E A L .
demand drafts.
GEORGE H AGU E, General Manager.
N e g o t ia t e Railway, State and City Loans.
W N ANDERSON. Assistant Gen’l Manager.
B AN K E R S:
_, ... ,
LONDON, ENG.—The Clydesdale Bank (Limited.)
NEW YOÏtK—The Bank o f New York, N- B- A .
The New York Agency buys and sells Sterling Ex
change, Cable Transfers, Issues credits available in
all Darts o f the world ; makes collections In Canada
and elsewhere and issues drafts payable at any o f
the offices o f the bank m Canada. Every descrip
tion of foreign banking business undertaken.
THE
Railway Share Trust Co,
(LIM ITE D ).
N ew Y o r k Agency, N o. 61 W a ll Street.
H E N R Y H AGU E,
1 Agents.
JOHN B. H A R R IS, JR., S
NO. 4
BANK
BUILDINGS
LONDON, ENGLAND.
a g e n c y
B
a
of
n
t h e
k
C apital P aid U p , J69T1,S60 Sterling.
or
B ritish N orth A merica,
NO. 52 W A L L
STREET.
Buy and sell Sterling Exchange “ d Cable Trans
fers Issue demand drafts on Scotland and Ireland,
SSfoonCanada,:British Columbia and 8an Francisco.
This Company undertakes the business o f Trustee
to Loans o f approved Railways, negotiates and
Issues Loans on the London Market, acts as A gent fo r
Railways and other Corporations, either In the mat
ter o f payments o f Interest on Loans, Dividends on
^ l l f s collected and other hanking business transROted'
D. A . M cTAVISH , ) A „ enta
H . STIKEMAN,
J AgenM1,
f o r e ig n
.
or Registration o f Stocks In London, or otherwise.
Anglo-Californian Bank
(LIMITED).
LONDON, Head Offloe, 3 Angel Court.
SAN FRANCISCO Offloe, 422 California St
N E W Y O R K Agente, J. & W. Seligman & Co
BOSTON Correspondes, Massachusetts N. Bk
Bank of Australasia,
4 Threadneedle St., L o n d o n , England
Paid-up C a p it a l,........................
Reserve Fund, - - - - - - * ruu.uuu
Letters o f Credit and Drafts issued on any o f the
numerous branches o f the Bank throughout Aus
tralia and New Zealand.
Bills negotiated or sent fo r collection.
Telegraphic transfers made.
,
.. „
Deposits received in London at interest fo r fixed
eriods, or fo r transfer to the colonies on terms
which may be ascertained on application.
J
PR ID E A U X SELBY. Secretary.
The Compagnle Generale Transatlantlqne delivers
at Its office in New York special train tickets from
Havre to Paris. Baggage checked through to Paris
without examination at Havre, provided passengers
have the same delivered at the Company s dock In
New York, Pier 42 North River, fo o t o f Morton St.,
at least two hours before the departure o f a steamer.
LOUIS D E B E B IA N , A gent,
No. 3 B o w lin g Green.
fTiuauciaX Companies.
F ID E L IT Y
&
C A S U A L T Y CO.
NOS. 214 A 216 B RO AD W A Y , N EW YORK
Cash Capital, 1250,000, Invested In V. 8. Gov’t Bonds.
*200,000 deposited with the N. Y . Ins. Dep t, for
the protection o f Policy-holders.
Assets, January 1st, 1886, *590,500 42.
Officials o f Aanks, Railroads and K*Rro»s Compa
nies, Managers,Secretaries, and Clerks o f Public Com
panies, Institutions and Commercial firms, can obtain
BONDS OF S U R E T Y S H IP
from this Company at moderate charges.
The bonds o f this Company are accepted by the
courts o f the various States
CASUALTY D E P A R T M E N T .
Policies Issued against accidents causing death or
totally disabling Injuries.
„
.
.
___ . .
Full Information as to details, rates, Ac., can be
obtained at head office, or of Company’s Agents.
W m . m . Richards, Prest. John m . Crank , Seo y
rob ’t J. Hildas, Ass’t Secretary.
DIRECTORS: ____ ,
G. G. Williams, David Dows,
W . G. Dow,
J.S.T. Stranahan, A . S. Barnes,
CharlesDennls,
A B H ull.
H . A . Hurlbut,
A lex. Mitchell,
J "l . Biker,
J. D. Vermllve, S.® . Chittenden,
j •li.
q g Coe
W m . M. Richards.
B o n d s o f* S u r e t y s h i p .
NO OTHER BUSINESS.
The Guarantee Co.
OF NORTH AMERICA.
Cash Capital........................................................ ^ o ’ooO
Assets and Resources .......•• •••••;•........... oaq’ ooo
Deposit with Insurance Departm ent.............
President:
V ice-President:
Bi b alxx . T. Galt ,
Hon. Jas. FKfeRiKB.
Managing D irector: Edward Rawlings.
NEW YO RK OFFICE:
D. J. TOMPKINS, Secretary.
NHW YORK DIRECTORS-Joseph. W . Drexel. A. L.
Honkins, H . V ictor NewcomiKJohn Paton, Danlei
Torrance. Kdw. F. W inslow, Erastus Wlman, F. P.
Oicott and J. E. Pulsford.
Crenshaw & Wisner,
T1 W A L L S T ., N E W Y O R K ,
CO M M ISSIO N
M ER CH ANTS,
Members o f the Cotton, Coffee and Produce E xeh£
AGKNCY OP
THE HAXALL CRENSHAW CO.,
RICHMOND, VA.
Standard Brands o f Flour fo r Shipment to Warm
Climates always on hand.
A u th orized C apital, - - - $6, 000,000
P a id -u p Capital, - - ■ - 1 ,5 0 0 ,0 0 0
R e s e r v e F u n d , - - “ " - - 4 0 0 ,0 0 0
Transact a general banking business. Issue Com
mercial credits and Bills o f Exchange,^available In all
TOrts o f the world. Collections and orders for Bonds,
Stocks, etc., executed upon the most favorable terms
FR RD ’K F. LOW , _ >MfiniUf.ni
IGN ATZ S TE IN H A B T,) Mana* erap. N. LlLlENTHAL,:Ca6hler ¡SB
Special T r a in from H av re to Paris.
NO. I l l B R O A D W A Y .
Cable Address—PA w , L o n d o n .
(Incorporated by Royal Charter, 1885.)
T HE
°
Co.,
Paul Lichtenstein,
H. R. Baltzer,
President,
Vice President,
R. V. Martinsen,
W. E. Mantius ,
Treasurer.
Secretary,
G. W. Hall , Sup*t.
C A P IT A L (paid u p), “ - $ 1 ,5 0 0 ,0 0 0
B E A R E B R O T H E R S & C O .,
SU RPLU S, - - - - - - $ 5 0 0 ,0 0 0
18 W a ll Street, N ew Y o r k ,
H. 8. H OW LAN D, Pres’t. D. R . W IL K IE , Cashier.
H H i n O F F IC E , TO R O N TO .
28 State Street, B o sto n , M ass,
isessssa . «
Mining
48 E X C H A N G E P E A C E .
A. M. TOWNSEND. Agent. 4T William St,
WALTER WATSON, > Ag»ntS.
ALKX’R LANG,
)
ggLn.
ingersou.
C E N T R A L
ORIENT GUANO MANUFACT’G CO.,
ORIENT,
Stewart B rown ’ s Sons,
STO CK
BROKERS,
64 B roa d w a y & 19 N ew S t., N ew Y o rk
l
. I.
Standard Superphosphates.
SULPHUR MINES COMPANY
OF VIR G IN IA .
¡H igh Grade Pyrites free from Arsenic.
t il
THE CHRONICLE
J an u ary 22, 1887. J
JBauîts, <
§ & nkzxs atixX SroXuers (Start xrf ^ tx o U a rK
GBO. 8TUBOK8. Pres’t.
F. W. GOOKIN, Asst. Cast).
North-Western N a tl Bank,
C H IC A G O , IL L IN O IS .
Capital, $ 2 0 0 ,0 0 0 .
Surplus, $ 5 0 ,0 0 0 .
This Bank holds in addition $1,000,000 U. 8 .4 per
sent Bonds at par,;pledged by its stockholders for
the protection o f its customers. Said bonds are
pledged as above, instead o f being held by the Bank
as a part o f its legal surplus, to avoid what we think
unjust and excessive local taxation.________________
Sherman 8.Jewett,Pres. Josiah J ewett,Y.Pres.
William C. Cornwell, Cashier.
Bank of Buffalo,
CAPITAL., - - - - - - $ 3 0 0 ,0 0 0
BUFFALO, N. Y.
This bank has superior facilities for making collec
tions on all accessible points in the United States,
Canada and Europe. Liberal terms extended to acoountg of bankers and merchats.
Correspondents.—New York, National Shoe &
Leather Bank; Union Bank of London.__________
W. T. Blackwell, Pres’t.
P. A . Wiley , Cashier.
The Bank of Durham,
D U R H A M , N. € .,
Pay Special Attention to Collections.
FIRST-CLASS FACILITIES.
New York Correspondents.—TheN. ttonal Park Bank
and Seventh Ward Nation Bank.
H. Gardes ,
President.
e.p
Narr & Gerlach,
R A N K E R S AND R R O K E R S ,
No. 437 CHESTNUT STREET,
P H IL A D E L P H IA .
Members o f the Philadelphia and New York Stock
Exchanges.
Cable Transfers, Bills o f Exchange and Letters of
Credit.
Whitney & Stephenson,
Oldest Pittsburg members N. Y. Stock Exchange.
E. W. Clark & Co.,
BANKERS AND BROKERS,
No. 35 South T h ird St., P h ilad elp h ia.
Railroad, Municipal and other desirable Invest
ment Securities fo r sale.
Transact a general banking business. Allow inter
est on deposits.
Members o f the Philadelphia and New York Stock
Exchanges, and connected by private wire with New
York.
B A L T IM O R E .
BANKERS AND BROKERS,
(Members of Baltimore Stock Exchange),
B A L T IM O R E .
German National Bank,
(INVESTMENT and SOUTHERN SECURITIES a
specialty.)
„
,
_
Correspondence solicited and information fur
nished.
.
N. Y. Correspondents—McKim Brothers & Co.
President.
-
-
-
92 00 ,0 00
( Incorporated 1875. J
Cashier.
L IT T L E R O C K , A R K A N S A S .
Capital (P aid l u ) .....................$ 2 0 0 ,0 0 0
Prompt attention given to all business in our line.
N. Y. Correspondents.—importers’ & Traders’
National Bapk and National Bank of the Republic.
H. E. Burruss, Pres’t. A. K. Walker , Cashier.
First National Bank,
Robert Garrett & Sons,
BANKERS,
N o.
7 SOUTH
STREET,
B A L T IM O R E ,
W IL M IN G T O N , N. C.
TRANSACT A GEN ERAL DOMESTIC AND
ollectlons made on all parts of the United States.
FOREIGN BANKING BUSINESS.
MERCHANTS’ NATIONAL BANK,
R IC H M O N D , V IR G IN IA .
W ESTERN.
Collections made on all Southern points on best
terms; prompt returns.
JOHN P. BRANTS . President.
John F. Glenn, Cash. Fred. R. Scott, Vice-Pres’t J. S. Alexander, Pres. A. A. A lexander, Cash’r.
N E W ENGLAND.
C. W. Branch & Co.,
State Bank Building,
R IC H M O N D , VA.
Private wires oonneoting with Washington, Balti
more, Philadelphia and New York.
New York correspondents. Prince A W hltely._____
A l LANTA.
Humphreys Castleman,
BROKER AND D E A LER IN A L L KINDS OF
SECURITIES.
Bonds and Stocks bought or sold on commission
Georgia and Alabama Securities specially dealt in.
Correspondents: Tobey A Kirk and A . D utenhofer,
New York.
i ,,
_
Reference : Atlanta National Bank, Atlanta, Ga.
and Fourth National Bank, New York.
jg a r m
2 0
FARMS.
Collections receive our speoial attention and are
promptly remitted for._________________________
J. G. Fletcher, j STATE BANK, )C. T. Walker,
-
Circulars and information on funding the debts Of
Virginia and North Carolina free o f cost; one-eighth
per cent oharged fo r funding. Southern Railroad
and State and City Bonds bought and sold.
BANKERS AND BROKERS,
No. 57 F O U R T H A V E N U E .
Wilson, Colston & Co.,
-
COMMISSION MERCHANTS
•R IC H M O N D , V IR G IN IA .
BANKERS AND BROKERS,
HOUSTON, T E X A S.
-
T H O M A S B R A N C H & CO.,
BANKERS AND
P I T T S R U R G , PA.
ESTABLISHED 1871.
. Hill,
r . a . Giraud ,
V ice-Pres’t.
Cashier.
Commercial National Bank,
Capital,
SOUTHERN.
PENN S Y L V A N I A .
BANK S.
fjfo r t g a a c s .
years
ExpEr„'E"0'
L E N D IN G M O N E Y ON IL L IN O IS
N O L O S S E S . 8CND FOR LIST.
C. E. & C. M. A N T H O N Y ,
■
PEORIA
a n k e r s
ILL
Q xu & t G v o m p a tiie s .
The Brooklyn Trust Co.,
Cor. o f Montague and Clinton Sts.,Brooklyn, N.Y.
This company is authorized by special charter to
act as receiver, trustee, guardian, exeoutor or adminIt can act as agent in the sale or management o f
real estate, oolleot interest or dividends, receive re
gistry and transfer books, or make purchase and sale
o f Government and other securities.
Religious and charitable institutions, and persons
unaccustomed to the transaction o f business, will
find this Company a safe and convenient depository
for money, R IP L E Y ROPES, President.
EDMUND W .CORLIES, Vice-Pres’t.
TRUSTEES:
H ’y K. Sheldon,
C. D. W ood,
Wm. H. Male,
Ripley Ropes,
Abram B. Baylis,
H. W . Maxwell,
James koss Curran , Secretary.
Frederick C. Colton. Asst. Seo’y.
Josiah O. Low,
Alex. M. White,
A. A. Low,
Alex. McCue,
Mich’l Chauncey,
Wm. B, Kendall.
E. F. Knowlton,
John T. Martin,
Fred. Cromwell,
John P. R olfe,
E. W . Corlies.
H. E. Pierrepont,
Texas National Bank, The Union Trust Co.,
Brewster, Cobb
& Estabrook,
SAN AN TONIO, T E X A S .
811 AND 613 CHESTNUT STREET,
COLLECTIONS AND INVESTMENTS MADE.
Correspondence invited.
Authorized Capital......................................... U ’995’995
Paid-up Capital............................................... 506.000
A cts as Executor, Administrator, Assignee, ete.
and executes trusts o f every description known to
UANKERS,
Ghas. H. Potter & Co.,
No.
35
CONGRESS S T R E E T ,
BO STO N .
INVESTMENT BANKERS,
C L E V E L A N D , O H I O .
SPECIALTIES:
MEMBERS OF THE NEW YORK AND TOWN, COUNTY AND CITY BONDS,
L A K E SUPERIOR IRON MINING STOCK8,
BOSTON STOCK EXCHANGES.
AND STREET RAILR O A D SECURITIES
ALSO,
Dealers In m u n icip a l, State, R ailroad
ESTABLISHED 1871.
and U nited States R ou ds.
Joshua Wilbour,
Charles H. Sheldon, Jr
Benjamin A. Jackson, William Binney , Jr .
P. F. Keleher & Co.,
Wilbour, Jackson & Co.,
BANKERS :A N D :B R 0K E R 8,
No. 52 W E Y B O S S E T
STR EET,
P R O V ID E N C E , R . I.
Dealers in. Commercial Paper, Government and
other first-class Bonds and Securities and Foreign
Exchange.
Private Telegraph W ire to New York and Boston.
305 OLIVE STREET, 8T. LOUIS,
Dealers In W estern Securities.
Defaulted Bonds o f Missouri, Kansas and Illinois
a specialty. Good Investment Securities, paying
from four to eight per cent, fo r sale.
425 W o o d Street, Pittsburg, P a .
MEMBERS
New York and Philadelphia Stock Exchanges.
Pittsburg Petroleum, Stock and Metal Exchange.
Private wires to New York, Boston, Philadelphia,
Baltimore and Washington.
^Burglar-Proof Safes to rent at $5 to $60 per annum.
Wills kept in vaults without charge.
Bonds, Stocks and other valuables taken under
guarantee.
_
.
.
. , m _
Paintings, Statuary, Bronzes, etc., kept in FireProof Vaults.
.
Money received on deposit at interest._______
I AS. LONG, Pres’t. JOHN G. READING, V .-Pres’t.
MAHLON S. STO K E8, Treasurer & Secretary.
D. R. PATTERSON, Trust Officer.
Directors.—James Long, Alfred S.Glllett, Joseph
Wright, Dr. Charles P, Turner, William S. Price,
John T. Monroe, W. J. Nead, Thomas R. Patton,John
JGReadtng, W m. H . Lucas, D. Hayes Agnew, M. D.
Jos. I. Keefe, Robert Patterson, Theodor C. Engel,
Jacob Nayler, Thos. G. Hood, Edward L. Perkins,
William Watson, Philadelphia ; Samuel Riddle,
Glen riddle , Pa.; Dr. George W. Reily, H a r r i s
burg, Pa.; J. Simpson Africa, Huntingdon; Henry
8. Eckert, Reading ; Edmund 8. Doty, Mif f l iw town ; W. W . H. Davis, Doylestown ; R . E. Monaghan, West Chester._______________________ _
“ 7
DDKiflO of Counties, Cities, Ac., of high grade a
D U INU O specialty. S e n d f o r D e s c r i p t i v e L i s t s .
T H E
OF
P H IL A D E L P H IA .
Incorporated Third M o.,22d, 1865.
(CH ARTER P E RPE TU A L.)
C A P IT A L ................................- - $ 1 ,0 0 0 ,0 0 0
SOUTHERN.
Rea Bros. & Co.,
BAN KERS AND BROKERS,
thA lfT rust assets kept separate from those o f the
N. W. Harris & Co., Provident Life&TrustCo
CHICAGO and BOSTON.
P E N N S Y L V A N IA .
AND DEALERS IN FOREIGN EXCHANGE,
P H IL A D E L P H IA .
W.
H.
Pat t er son,
BOND AND STOCK BROKER,
A T L A N T A , GA;
State, City, Railroad and other Corporate Securi
ties o f Southern States wanted and fo r sale at all
times. Mortgage Loans on city and farm property,
two to ten years, paying six to eight per cent, fur
nished. Prompt replies to correspondence, mail or
wire
A SSET S $ 1 5 ,6 2 1 ,5 3 0 6 3 .
INSURES LIVES, GRANTS ANNUITIES, RE
CEIVES MONEY ON DEPOSIT, returnable on d e
mand. or on which interest is allowed, and is empow
ered {>y law to act as EXECUTOR. ADMINISTRA
TOR, TRUSTEE, GU ARD IAN , ASSIGNEE, COM
MITTEE, RECEIVER, AGENT, etc., fo r the faith
ful performance o f which Its capital and surplus
fund furnish ample security.
A ll trust funds and investments are kept separate
and apart from the assets o f the company.
The income o f parties residing abroad carefully
collected and duly remitted.
SAM’L R. SH IPLEY, President.
T. W IST A R BROWN, Vice-President.
I
A SA S. WING, Vice-President and Actuary
viii
THE
%x\xst ©ürapatiies.
g r tts l
CHRONICLR
© c m x jm t iije s .
American Loan & Trust Co,
United States Trust Cot
113 BROADW AY, NEW YO RK.
Capital, Fully Paid......................81 ,000,000
THIS COMPANY TRANSACTS A GENERAL
LOAN, TRUST AND FINANCIAL BUSINESS.
Receives Money on Deposit subject to check, and
allows interest on balances.
All Checks pass through the Clearing-house.
MAKES INVESTMENTS OF MONEY.
ACTS AS EXECUTOR. ADMINISTRATOR.
GUARDIAN, TRUSTEE, Eto.
ALSO, AS REGISTRAR AND TRANSFER AGENT.
%W An Authorized Depository for Court and
C unty Treasurers’ Fund.
ROWLAND N. HAZARD. President.
GEORGE S. HART, Vice-President.
WILLIAM D. SNOW, Secretary.
JAMES 8. TH URSTON, Treasurer.
DIRECTORS:
George h . Potts,’
Wallace c. Andrews,
John l . Macaulay ,
Ira Davenport,
James M. Vahnum,
William D. Snow,
John I. Blair ,
John D. Kimmey,
Edward F. Browning, Frédéric A. Potts,
Rowland N. Hazard , John Ross,
George s. hart , •
A lexander G, Black,
Wm. B. Dinsmore,
Frank C- Hollins,
Elias Lewis,,Jr .,
Thomas L. W atson,
Jules Aldigé,
Elias C. Benedict,
Stevenson Burke,
William P. Anderson.
OF y E W TORE.
No. 4 9 W A L L S T R E E T .
Union Trust Company
OF N E W Y O R K ,
73 Broadway, cor. Rector St., N. T.
[Tou XLTV,
%u&xcxxutt.
OFFICE OF THE
Capital and Surplus, - - - $ 6 ,0 0 0 ,0 0 €
This compan j is a legal depository for moneys paM
into court, and is authorized to act as guardian oi
trustee.
INTEREST ALLOWED ON DEPOSIT8, ♦
which may be made at any time, and withdrawn aftoi
five days’ notice, and will be entitled to interest foi
the whole time they may remain with the company
Executors, administrators, or trustees of estates
and females unaccustomed to the transaction of bust
ness, as well as religions and benevolent institutions
will find this company a convenient depository fo>
money.
JOHN A. STEWART, President.
*
WILLIAM H. MACY, Vice-President
w JAMES S. CLARK, Second Vice-Pres’
TRUSTEES;
Dan. H. Arnold, D. Willis James, Robt.B. Minturn
Thos. Slocomb, John J. Astor,
H. Warren
Charies E. Bill, John A. Stewart, Geo.
George Bliss,
Wilson G. Hunt, 8.M. Bucki’gham, William Libbey,
Wm. H. Macy, H. E. Lawrence, John C. Brown,
Clinton Gilbert, Isaac N. Phelps, Edward Cooper,
Daniel D. Lord, Erastus Corning, W.Bay’rdCuttint
Samuel Sloan,
S. B. Chittenden, Chas. S. Smith,
James Low,
John H. Rhoades, Wm. Rockefeller
Wm. W. Phelps, Anson P. Stokes Alex. E. Orr.
HENRY I <•THORN ELL, Secretary.
LOUIS G. HAMPTON. Assistant Secretary
A T L A N T I C
Mutual Insurance Co.,
NEW YORK, January 23, 1886.
The Trustees, in conformity to the Charter of
the Company, submit the following Statement
of its affairs on the 31st December, 1885:
Premiums on Marine Risks from
1st January, 1885, to 31st
December, 1885.......................$3,856,818 66
Premiums on Policies not marked
ofl 1st January, 1885............... 1,339,525 10
Total Marine Premiums.......$5,196,143 76
HXisccIIautous.
BAGGING.
Premiums marked oft from 1st
January, 1885, to 31st Decem
ber, 1885................................... $3,770,094 30
C APITA L , ■ - - - - - 8 1 ,0 0 0 ,0 0 0
Losses paid during the same
S U R P L U S ,- . . . . . .
$ 2 ,0 0 0 ,0 0 0
period...................... ................. $1,915,020 67
r Authorised to act as Executor, Administrator W A R R E N , JO N E S A G R A T Z
Guardian, Receiver, or Trustee, ana is
ST. LOUIS, m o .
Returns of Premiums and Ex
A LEGAL DEPOSITOR V FOR MONEY
penses................. ...................... $776,712 42
Manufacturers of Pure Jute Bagging.
Aocepts the transfer agency and registry of stocks,
and acts as Trustee of mortgages of corporations.
IMPORTERS o p
Allows Interest on deposits, which may be made at
The Company has the following Assets, viz.:
any time, and withdrawn on five days’ notioe, with
IRON C O TT O N TIES.
United States and State of New
interest for the whole time they remain with the
oompany.
York Stock, City, Bank and
For the convenience of depositors this company
other Stocks.................................$9,034,685 O')
also opens current accounts subject, in accordance
with its rules, to check at sight, and allows Interest
Loans secured by Stocks and
upon the resulting dally balances. Such checks pass
otherwise................................ 1,438,60
through the Clearing House
New
York,
Boston,
Philadelphia,
TRUSTEES:
Real Estate and Claims due the
Wm. Whitewright,
James M. McLean,
SELLING AGENTS FOR LEADING BRANDS
Company, estimated at.............
530,000 00
Henry A. Kent,
Ambrose C. Kingsland,
B R O W N Ac B L E A C H E D SH IR T IN G S Premium Notes and Bills Re
R. T. Wilson,
James H. Ogilvie,
Wm. F. Russell,
S. T. Fairchild.
AND SH E E TIN G S,
ceivable...................................... 1,508,143 58
C. D. Wood,
I. H. Frothingham,
James N. Platt,
PRINTS, DENIMS. TICKS. DUCKS. *e.
George A. Jarvis,
ash in Bank.................................
228,897 88
D. C. Hays,
C. Vanderbilt,
T o w els,Q u ilts, W h ite Goods Ac Hosiery
James Forsyth,
A. A. Low,
Amount...................................
$12,740,326
46
George Cabot Ward,
G. G. Williams,
Drills, Shtu ings, die, for Export Trade.
Edward King,
R. G. Remsen,
B. B. Wesley,
J. B. Johnston,
D. H. MoAlpin,
SIX PER CENT INTEREST on the outstand
Edwa ''chell,
Geortre B Carhart,
Amasa j . Parker,
lng certificates of profits will be paid to the
Henry Stokes,
Samuel F. Barger,
Robert Lenox Kennedy, Geo. C. Magoun.
holders thereof, or their legal representatives,
EXECUTIVE COMMITTEE:
on and after Tuesday, the 2d of February next.
Wm. Whitewright,
G. G. Williams,
THE OUTSTANDING CERTIFICATES of
James M. McLean,
E. B. Wesley,
J. B. Johnston,
C. D. Wood,
the issue of 1881 will be redeemed and paid to
D. 0. Hays,
A. C. Kingsland.
the holders thereof, or their legal representa
EDWARD KING, President,
JAMES M, MCLEAN, First Vioe-Pres’t,
tives, on and after Tuesday, the 2d of February
J AMES H. OGILVIE, Second Vice-Pres't.
A. O. RONALDSON. Secretary.
WELDED CHROME STEEL AND IBON next, from which date all interest thereon will
In Round and Flat Bars, and 5 ply Plates and Angles cease. The certificates to be produced at the
time of payment and canceled.
SAFES, VAULTS, &o.
Mercantile Trust & Deposit Cannot beFOR
A DIVIDEND OF FORTY PER CENT Is
Sawed, Cut or Drilled, and practically
COMPANY, OF
Burglar-Proof.
declared on the net earned premiums of the
CHROME STEEL W O R K S,
Company, for the year ending 31st December,
B A L T IM O R E .
Circulars Free
B R O O K L Y N , N. Y . 1885, for which certificates will be issued on
Capital,
» . . .
8300,000
and after Tuesday, the 4th of May next.
Authorized Capitai,
$2,000.006
By order of the Board,
Authorized to act as Exec “tor, Administrator,
Guardian, Receiver, or Trustee, tn j is
J . H . C H A P M A N , Secretary.
A LEGAL DEPOSITORY FOR MONEY.
Accepts the transfer agency tmd registry of stocks
and acts as Trustee of mortgages or corporations.
Takes charge of property, collects and remits in
terest and income promptly, and discharges faith
fully thé duties of every trust known to the law.
Money received on deposit. All Trust Assets kept
TRUS ¡TEES:]
separate from those of the Company.
Burglar-proof Safes and Boxes (having chrome
IN T H E C IT Y OF N E W Y O R K .
steel doors) to rent at$10 to $100 per annum in t.belr
J.
D.
Jones,
Adolph Lemoyne,
new and elegant? chromé steel FIRE AND BUKG(ORGANIZED IN 1850.)
LAK-PROOF VAULTS, protected by improved
Charles Dennis,
Robert B. Minturn,
Time Locks.
Charles H. Marshall,
Wills kept In vaults without charge. Bonds and 261, 262 & 263 Broadway, New York. W- H. H. Moore,
Stocks, Plate and all Valuables securely kept under
James Low,
Frederick H. Cossitt,
guarantee at moderate charges. Paintings, Statu
G. H. BURFORD, President,
A. A. Raven,
William Bryce,
ary, Bronzes, etc., kept In flre-proof vaults.
JOHN GILL, W.W. SPENCE, L. C. FISCHER C. P. Fr a l x io b , Sec’y. A. W heelw right , Ass’t geo. Wm. Sturgis,
John Elliott,
President.
Vice-Pres’t.
Treas. & Sec.
Wm. T. Standen, Actuary.
Benjamin H. Field,
James G. De Forest,
All the profits belong to the Policy-holders exclu Josiah O. Low,
DIRECTORS:
Charles D. Leverioh,
W. W. Spence, Louis McLane, John E. Hurst,
sively.
Thomas B. Coddlngton,, John L. Biker,
OhristianDevries Robert Lehr,
Stewart Brown,
A l l Policies issued by this Company are i n d i s p u t
C.Mort’n Stewart W. A. Tucker,
W. H. Blackford,
William Degroot,
N. Denton Smith,
Robert Garrett, Jas. Carey Coale, E. A. Jenkins,
a b l e after three years.
Horace Gray,
George Bliss,
Chas. D. Fisher, Oliver A.Parker, Bernard Cahn,
All
Death
Claims
paid
without
discount
as
soon
Geo. P. Thomas, W. H.Whitridge, J.Wilicox Brown,
William E. Dodge,
Henry E. Hawley,
as satisfactory proofs have been received.
O. XL Williams, J. A. Hambleton, Alex. Frank,
Andrew Reid,
Thos. Deford.
William D. Morgan,
John Gill.
This Company issues all forms of Insurance, in William H. Macy,
Isaao Bell,
cluding Tontine and Limited (Non-Forfeiting) Ton 0. A. Hand,
John D. Hewlett,
tine.
Edward Floyd-Jones,
One month’s grace allowed in the payment of William H. Webb,
Anson W. Hard,
Premiums on Tontine Policies, and ten days’ grace Charles P. Burdett,
Mille Building, 85 Wall St., New York
Thomas Maitland.
on all others, the Insurance remaining in full force Edmund W. Corlies,
P A ID U P C A P IT A L , $ 1 ,0 0 0 ,0 0 0 .
during
the
grace.
Designated as a legal Depository b y order of Su
preme Court. Receive deposits if money on interest,
Absolute security, combined with the largest liber
JOHN D . JONES, President.
act us fiscal or transfer agent, or trustee for corporations.juid accept and execute any legal trusts from ality, assures the popularity and success of this com
[CHARLES
DENNIS, Vice-President.
persons or corporations on as favorable terms as pany.
other similar companies.
GOOD AGENTS, desiring to represent the Com
THOMAS HÏLLHOUSE, President.
IW . H . H.
2d Vioe-Pres’t.
pany' are invited to address J. 8. GAFFNEY, Super
FREDERIC D. TA PPEN , Vice-President.
WALTER J. BRITT1N. feeoretapy.
intendent of Agencies, at Home Offloe.
A . A . RAY
Vice-President
Bliss, Fabyan & Co.,
SECURE BANK VAULTS.
The United States Life
Insurance Co.
Metropolitan Trust Co.,
f flE CH RONICLE
January Sâ, 18 7 J
J^uMicatians.
% x iô \ x x K n tt.
A SSU R A N C E
s o c ie t y
120 BROADWAY, NEW YORK.
H E N R Y B . H Y D E , President.
SURPLUS.................................................$13,862,239 18
(Surplus on N. Y . Standard 4*3 per cent
interest, $ 1 7 ,4 9 5 ,3 2 9 ,4 0 .)
Surplus over Liabilities, on every standard o f valua
tion larger than that o f any other L ife Assurance Com
pany.
H w A ssurance in 1885..................... $96,011,878 00
OUTSTANDING A S S U R A N C E .................... 357,838.246 00
Total paid Policy-Holders in 1885 ........ 7,188,889 60
Paid Policy-Holders since Organisation 88,211,175 36
I n co m e in 1885.
.................................. 16,590.053 81
m u t u a iT b e n e f it
LIFE INSURANCE COMPANY,
N E W A R K , N. I .
President.
Assets (Market Values)........................... $38,615,319 32
Liabilities (4 per cent Reserve)............. 85,857,827 70
Surplus.........................................
2.757,491 62
Surplus (New York Standard)................. 5,411,241 50
Policies Absolutely N on -Forfel table
Alter Second Year.
In case op lapse the Policy is continued in
f o r c e as long as its value will pay fo r : or, if pre
ferred, a Paid-up policy fo r its full value is Issued in
exchange.
After the third year Policies are incontestable,
except as against intentional fraud ; and all restric
tions as to travel or occupation are , oioved.
Cash loans are made to the exte: . of 50 per cent
of the reserve value, where valid assig ments of the
Policies can be made as collateral secur.:y.
Losses paid immediately upon completion and ap
proval of proofs.
UNION MUTUAL
Life Insurance Company
PORTLAND, MAINE.
JOH N
E.
DP W I T T ,
President.
ORGANIZED 1849.
Write to the Company or Its Agents for circulars
explaining
The M aine N on-Forfeiture
LOSSES
Law .
PA ID
PROM PTLY AND W ITHOUT
DISCOUNT.
The Company is strong, reliable and popular; and
ssues a variety o f policies suited to the different
circumstances c insurers
guMicatio ns.
NOW R E A D Y .
HAND-BOOK
:of
Railroad Securities.
J A N U A R Y , 1887.
Price In Red Leather Covers, • ■ $1 00
To Subscribers of the Chronicle,
75
W I L L I A M B . D A N A Sc CO.,
79 & 81 WILLIAM STREET, NEW YORK
L ittell ’ s L iv in g A ge .
n
l $ 8 7 T H E L IV IN G
GE enters upon its fortyfourth year, having met with con
tinuous commendation and suc
cess.
A W E E K L Y MAGAZINE,
it gives fifty -tw o numbers o f
i sixty-four pages each, or more
Ethan
TH R EE AND A QU ARTER
THOUSAND
double-oolumn octavo pages o f
reading matter yearly. It pre« sents in an inexpensive form,
__________ considering its great amount o f
matter, with freshness, owing to its weekly issue,
and with a completeness nowhere else attempted,
'<u i best Essays, Reviews. Criticisms, Serial and
8hort Stories, Sketches o f Travel and Dis
covery, Poetry, Scientific, Biographical,
Historical and Political Inform ation,
from the entire body o f Foreign
Periodical Literature.
For $10 50, T h e L iv in g A ge and any one o f the
American $4 Monthlies (or Harper’s Weekly or Bazar)
will be sent for a year, post paid; or, for $9 60, T he
Liv in g A ge and the St. Nicholas. Address.
I<ITTEI<I< Sc CO., B osto n .
Brinckerhoft, Turner
& Co.,
,
ASSETS. JANUARY 1st, 1888...........
$66,553,387CO
LIABILITIES, 4 per cent Valuation .. 52,691,148 37
AM ZI DODD, . . . . .
g p is jC je lX a tx je t ft x s .
[Ready February, 1887.]
E Q U IT A B L E
l if e
ix
TH F
Manufacturers and Dealers in
Financial Review. COTTON SAILDUCK
(ANNUAL.)
And all kinds of
1887.
A YEAR BOOK
OF
FINANCIAL INFORMATION
OOTTON CANVAS, FELTING DUCK, CAB
COVERING, BAGGING, RAVENS DUCK, SAIL
TWINES, A0„ “ONTARIO” SEAMLESS
BAGS, “AWNING STRIPES.
Also, Agents
U N ITE D ST A TE S B U N T IN G OO.
4 full supply, all Widths and Colors, always In stock
N o. 1 0 9 D uane Street.
ESTABLISHED 1855.
FOR
Bankers,
Stock Brokers,
Merchants,
Investors.
E
u
g e n
e
[S T A T IO N E R
R
.
C
o l e ,
AND P R IN T E R .
Supplies Banks, Bankers, Stook Brokers and Corpo
rations with complete outfits o f A ccount Books and
Stationery
t v New conoerns organising will have their orders
promptly executed.
Mo. I W I L L I A M
STREET,
(H ANOVER SQUARE.)
John .L. Bullard .
H enry h . W heeler .
C O N T E N T S !
Retrospect o f 1 8 8 6 .
Mercantile Failu res.
COTTON COMMISSION MERCHANTS
B an k in g and F in an cial—
NEW YORK.
United States—National Bank Figures and
ALSO
Currency Movements.
R AG G IN G AND IR O N T IE S ,
New York City—Bank Returns, Ac.
(FOR BALIN G COTTON).
London—Money Market and Bank Return .
Advances made on Cotton Consignments and Special
C o m m e r c ia lAttention given to purchase and sale o f FUTURE
United States—Foreign Commerce, Trade CONTRACTS OF COTTON.
Balance, U. S. Exports and Imports of
Leading Articles. London—Review of
year, Bank Returns, &c.
JO SE P H C IL L O T T S
T h e M oney M a r k e t Influences, and Prices of Call Loans and
Commercial Paper since 1879.
GOLD MEDAL P A RIS E X P O S IT IO N -1 8 7 8 .
Gold and S ilv e r T H E MOST PERFECT OF PENS
Production, Consumption, Exports and Im
ports of Gold and Silver in the United
States and abroad.
Foreign Exchange—
© a ttir a .
Market and Prices in New York, 1871-1886.
Investm ents and Speculation—
Compound Interest Table, Showing Accu
mulations of Money In a Series of Years.
Table Showing the Rate Per Cent Realized
COTTON BROKERS,
on Securities Purchased at different prices
125 P earl Street, New Y o r k ,
(without regard to date of maturity.)
Orders fo r Spot Cotton and Futures promptly
executed.
Stock Speculation in New York.
United States Debt and Securities—
Debt of the United States, 1791-1886.
W alter & F a t m a n ,
Prices of U. S. Bonds, 1860-1886.
State Debts and Securities—
COTTON B R O K E R S ,
State Debts and Immunity from Prosecution.
53 R E A Y E R S T R E E T , N E W Y O R K .
Prices of State Securities, 1860-1886.
R ailroads and their Securities—
Railroad Statistics of the United States
C H A R L E S B. T A I N T E R ,
Railroad Earnings.
COTTON MERCHANT,
Prices of Railroad Bonds, 1882-1886.
COTTON E X C H A N G E B U IL D IN G .
The New York Stock Market, 1881-1886.
SPECIAL ATTENTION TO COTTON FUTURES
Stock Quotations N. Y. Exch., 1982-1886.
“
Boston Exch., 1886.
“
Phila. Exch., 1886.
«
Balt. Exch., 1896.
Bullard & Wheeler,
STEEL PENS
Dennis Perkins & Co.,
F. Hoffmann,
COTTON BROKER AND AGENT,
Price of the Review, bound In cloth, - $2 00
To Chronicle Subscribers, - - - - 150
W IL L IA M
B , D ANA & CO .,
38 R U E D E L A B O U R S E . H A V R E .
Geo. Copeland & Co.,
PUBLISHERS,
79 Sc 81 W i l l i a m Street, N ew Y o r k .
COTTON BROKERS,
134 P E A R L S T R E E T , N E W Y O R K .
Chronicle Volumes
SINCE 1 8 7 0 .
A ny office possessing these volumes since 1870 has
at hand for convenient reference a complete and re
liable flnan«ia.i history o f the period. Parties having
the more recent volumes can obtain from the pub
llshers most o f the earlier volumes, or complete sets
can he furnished.
W IL L IA M
B . D A N A Sc GO.,
79 Sc 81 WILLIAM STREET,NEW YORK
Alexander & Cargill,
COTTON BROKERS,
AUGUSTA,
G E O R G IA .
Entire attention given to purchase o f COTTON
TO ORDER fo r 8PINNERS and EXPORTERS,
CORRESPONDENCE SOLICITED, •
R e f e r e n c e s . —National Bank o f Augusta, Qa
Henry Hents A Co., Commission Merchants, NEW
Y o rk ; William B. Dana A Co., Proprietors Commer
c ia l a F in a n c ia l Ch r o n ic le , and other New York
Bouses.
THÈ CHR0N1ÖLE
X
fjANÜARŸ 22. 188t
_________ (&0ttOU.
IpisueZIatueHtis.
Woodward & Stillman,
MERCHANTS,
W. T. Hatch & Sons,
Post Building, 16 & 18 Exchange Place,
NEW
LOANS M ADE ON ACCEPTABLE SECURITIES.
Sp e c ia l A t t e n t io n
for
INMAN, SW ANN& Co
YORK.
to o r d e r s f o r
F u t u r e D e l iv e r y
of
COTTON MERCHANTS,
Co n tr a c ts
Cotton .
N ew
COTTON, ALL GRADES, SUITABLE TO W ANTS
Y ork .
BANKERS,
14 NASSAU STREET, NEW YORK.
B r a n c h Offices { 1 3 g
Personal attention given at the EXCHANGES to
the purchase and sale o f STOCKS and BONDS far
cash or on margin.
RECEIVED—subject to oheck at sight
—with interest upon balances.
OF SPINNERS
Of f e r e d
on
T erms
to
Edward H. Coates & Co.,
Su i t .
Robert Tannahill & Co.,
Cotton Commission Merchants,!
■fca.m
—........ ..... -n-i» —
(Jotlon E xch an ge B u ild in g , N ew Y ork .
Special attention given to the purchase and sale of
FUTURE CONTRACTS
tn New York and Liverpool.
Williams, Black & Co.,
1 W IL L IA M
STR EET,
NEW YORK.
C O T T O N , G R A IN ,
P R O V IS IO N S , C O F F E E ,
STO CK S, P E T R O L E U M ,
ORDERS EXECUTED IN
NEW YORK, CHICAGO, NEW OR
LEANS, ST. LOUIS, LIVERPOOL,
10 South W illia m St. 4c 51 Stone St.,
HAVRE, &c.
COTTON.
BUYERS FOR AMERICAN MÎLLS.
Selm a, M ontgom ery an d New York .
No. 116 CHESTNUT STREET,
P H IL A D E L P H IA .
NO. 49 MAIN STREET,
N O RFO LK , VA.
SPINNERS’ ORDERS SOLICITED.
BANKERS AND COMMISSION MERCHANTS,
J. C. Graham & Co.,
NEW YORK.
Cotton Commission Merchants,
Le h m a n , St e r n A Co.,
New Orleans, La.
L e h m a n , D u r r & Co
Montgomery, Ala.
LEHMAN BRO’S,
C otton
F actors
B. F. BABCOCK & CO.
COMMISSION MERCHANTS,
17
W a te r Street,
L IV E R P O O L ,
Receive consignments o f Cotton and other Product,
and execute orders at the Exchanges in Liverpool.
Represented in New York at the office o f
SAM’L D. BABCOCK,
82 Nassau Street, New York.
Bethlehem Iron Comp’y
40 and 42 Wall Street,
M an h attan B u ild in g ,
N ew Y o rk ,
AND
R. Macready & Co.,
COMMISSION MERCHANTS,
COMMISSION M E R C H A N T S ,
No. 40 EXCHANGE PLACE,
MEMBERS OF THE COTTON, COFFEE AND
PRODUCE EXCHANGES.
UP-TOWN OFFICE, NO. 804 CHURCH STREET,
0OTTON
EXCHANGE
New Y o r k .
B U IL D IN G ,
NEW YORK.
. Cotton, Coffee, Groin and Petroleum Bought and
Sold for Cash, or carried on Margin, en the varions
Orders executed at the Cotton Exchanges In New
York and Liverpool, and advances made on Cotton
and other produce consigned to us, or to our corres
pondents in Liverpool: Messrs. L. Rosenheim &
Sons and A . Stern & Co.; In London, Messrs. B.
Newgass A Co.
COMMISSION MERCHANTS,
8 South W illia m St., New Y o r k .
Mohr, Hanemann& Co.,
COTTON E X C H A N G E
EXECUTE ORDERS FOR FU TU RE D E LIVERY
C O T T O N
at the NEW YORK, LIVERPOOL AND N EW OR»
LEANS COTTON EXCHANGES. Also orders for
C O F F E E
B U IL D IN G ,
New York.
G R A IN A N D P R O V IS IO N S
Co r r e sp o n d e n t s :
Messrs. Smith, Edwards & Co., Cotton Brokers
Liverpool.
Jos. Lea McLean, New Orleans.
G.
Schroeder & Co.,
Successors to W A R E & SCHROEDER,
COM M ISSION ME R C HA NT S ,
Cotton Exchange Building,
NEW YORK.
Orlees for future delivery o f Cotton executed In
New York and Liverpool i also fo r Grain and Pro
visions In New York and Chicago.
Rountree & Co.,
YO R K , » .
COTTON, GRAIN, PROVISIONS,
Stocks and Petroleum,
Orders executed in New York, Chicago and Liv
fpooL A ll grades o f cotton suitable to spinners'
ants offered on favorable terms.
Geo. H.McF adden& Bro.
C O T T O N [ ME R C H A N T S ,
P H IL A D E L P H IA .
L iv e r p o o l Co r r e spo n d e n ts ,
F R E D E R IC X E R E G A ic CO.
$4,910,488 36
WM. R. CROWELL, Vioe-President.
PH ILA N D ER SH AW , Secretary.
GEO. H . FÌSKE, Assistant Secretary.
FRANCIS P. BURKE, Seo’y Local D e p t.
N orth British
& Mercantile Ins. Co.
OF
OP ORDERS POE FUTURE CONTRACTS.
LONDON AMD E D IN B U R G H .
U. S. Branch Statement Jan. 1,1886.
Hubbard, Price & Co.,
C otton E x c h a n g e , N e w Y o r k .
AND
Price, Reid & Co.,
NORFOLK, VA.
Cotton Brokers & Commission Merchants,
Liberal advances made on Cotton consignments.
Special attention given to the sale o f cotton to ar
rive or in transit fo r both foreign and domestic mar
kets. Orders for Future Contracts executed in New
York and Liverpool.
Gwathmey & Bloss,
COMMISSION
MERCHANTS,
No. 1X3 PEARL ST., NEW YORK.
COMMISSION MERCHANTS,
•OTTOH
Statement o f Company let Day o f Jan., 1886.
CASH C A P I T A L ...........................
$1,000,000 00
Reserve fo r unearned premiums........... 8,840,048 84
344,473 68
Reserve fo r nnpaid losses................
Net surplus.................................................
714,167 48
SPECIAL ATTENTION GIVEN TO THE EXECUTION
at the NEW YO RK COFFEE EXCHANGE, and
at the NEW YORK PRODUCE EXCHANGE and
the CHICAGO BOARD OF TR AD E.
OF BROOKLYN ,
Office, 195 Broadway, New York City
ST E P H E N C R O W E L L , President.
■xohanges In New York City.
jHenry Hentz & Co.,
Phénix Insurance Co.
Orders fo r future delivery o f Cotton executed In
New York and Liverpool: also fo r Grain and Pro
H.
C L IS B Y
&
CO.,
COTTON BUYERS,
M O N TG O M E R Y, A L A .
P u r c h a se
o n l t on
Or d e r s F o r
$3,421,870 76
Losses paid In U. S. In 19 years ..$ 1 6,2 2 0 ,1 38 03
U . S. B r a n c h O f f ic e , 5 4 W il l ia m St ., N. Y.
CHAS. E. WHITE, SAM. P. BLAG DEN,
Managers.
JAS. F. DUDLEY, Deputy Manager.
jE T N A
Insurance C o mp a n y
OF
HARTFORD.
Capital.......................
Liabilities for unpaid losses
and re-insurance fund.. . . . . .
Net Surplus...............................
$4,000,000 00
2,118,618 19
3,450,22137
Assets J a n . 1, 1 8 8 7 .... $ 9 ,5 6 8 ,8 3 9 56
Visions lx New York and Chicago.
JOH N
Invested and Cosh Fire Assets................$3,421,870 76
LIABILITIES.:
Reserve for Unearned Premiums. . . .
$1,199,24748
Reserve fo r Unpaid Losses....
150,887
77
Other Liabilities.......................
56,150
39
N et S u r p lu s ........................ .a , 0 1 5 , 5 8 5 1 8
a
Com m ission
FELL0WES, JOHNSON & TILESTON^
COTTON, STOCKS, BONDS, & c.,
85 W IL L IA M STREET, NEW YORK.
Orders in "F utures" executed at N Y Cotton Hxoh.
N o. 68 W a ll S treet, N e w Y o r k .
J A S . A , A L E X A N D E R , A gen t,
COMMERCIAL
U N IO N
A s s u r a n c e Co., l i m i t e d ,
OF LONDON :
Office; Cor. Pine 4 WiUPm Streets, Mem Tsrk,
@FedFRASER