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MERCHANTS’
HUNT’S
MAGAZINE,
§kttr$pKpfY,
INDUSTRIAL AND COMMERCIAL INTERESTS OF THE UNITED STATES.
[Entered according to act of Congress, in the year 18S5, by Wm. B. Dana & Co., in the office of the Librarian of Congress, Washington, D. C.| /*
THE
REPRESENTING
NO.
SATURDAY, JANUARY 24, 1885.
40.
VOL.
on
CONTENTS.
the Stock
Exchange have reached a total of
for the week this
year
1,022.
1,842,341 shares
against 2,444,992 shares for the same
period in 1884, and covering a market value of $119,756,000
Reading’s Mortgage Bonds. 110 and $158,380,000 respectively in the two years. If, therefore,
THE CHRONICLE.
Clearing-House Returns
The Financial Situation
Coal Production and the Policy
of the Roads Interested
103 I Position of
104 j
I Monetary
THE
•
Money Market, Foreign
change, U.8. Securities, State
and- Railroad Bonds
and
Stock Exchange
N. Y.
English News
Commercial and Miscellaneous
Bank
Railroad Earnings and
115
Storks
Range in Prices at the
Commercial
and
usual method of deducting double these values
exchanges at that city, we have $285,363,451 •
108 I
News
114 and
to represent the exchanges having other
$485,163,472
BANKERS’ GAZETTE.
Quotations of Stocks and Bonds 117 origin, or a loss of 41*2 per cent.
Ex¬
100 |
Gold Production and Distribution
&
Philadelphia
Returns
Investment and Railroad In¬
telligence
116
THE COMMERCIAL TIMES.
Cotton
we
pursue our
from the total
With New York excluded the total for the week is $268,009,258,
against $294,855,345 in 1884, or a decline of 9T per
119
cent against a loss of only P3 per cent last week.
Our usual
statement giving the details for the various cities is as fol¬
118
128
129
1 £2 | Breadstuff’s
123 I Dry Goods
Commercial Epitome
112
lows
:
Week Ending
$he ClxnnxicXc.
Thb
Commercial and Financial Chronicle is
New York every Saturday morning.
1 Entered at the Post
published in
SUBSCRIPTION-PAYABLE IN ADVANCE
(including postage)
$10 20
TERMS OF
s
6 10
&2 7s.
.
months, and
£1 8s.
once in two
furnished without extra charge to subscribers
of the
Subscriptions will he continued until definitely ordered to be stopped.
The publishers cannot be responsible for remittances unless made by
Drafts or Post-Office Money Orders.
A neat tile cover is furnished at 50 cents; postage on the same is 18
cents. Volumes bound for subscribers at $1 00.
Offices In England.
The office of the Commercial and Financial Chronicle in London
is with Messrs. Edwards & Smith, 1 Drapers’ Gardens, E. C.. where
subscriptions and advertisements will he taken at the regular rates,
and single copies of the paper supplied at Is. each.
The office of the Chronicle in Liverpool is at B 15, Exchange
Buildings.
) WILLIAHI B. DANA & Co., Publishers,
^
U
^
79 Sc 81 William Street, NEW
POST 0pFICB Box 958.
(Stocks....shares.)
(Cotton
hales.)
(Grain.. .bushels)
(Petroleum, .bbls.)
YORK,
CLEARING HOUSE RETURNS.
week last year was
hence the comparison
(2,444,9921
(475,000)
(134,222,000)
$516,152,177
-33*0
(1,934,884)
(401,900)
almost everywhere very favorable, and
does not give as good results as a week
week are really a little larger
$792,884,709 against $790,402,-
(40,378,000) (~20'1)
(62,952,000)
(-00'3)
(41,123,000)
(-1*4)
(4-0*4)
(+42-5)
(-45T)
-1-4
(-24'0)
(-37'9)
809,019,080
807,441,531
+3'2
$69,281,591
4,145,100
—22'3
Hartford
1,702,921
1,219,371
840,471
788,781
750,850
5,335,200
2,109,799
1,291.978
-19'7
—7*8
—194)
933,891
-22
594,524
1,034,439
855,884
934,495
505,100
4,617,000
2,269,270
1,414,730
851,457
702,029
+5'2
455,402
-273
871),733,111)
879,588,420
4-0'2
$80,584,030
-1-9
840,000,219
0,717,053
14,880,145
800,400,415
—22-9
—40*3
$44,438,297
7,311,208
13,059,349
-190
11,255,872
10,250,085
808,203,417
887,972,372
22‘i)
$05,408,854
-17-5
844,207,070
10,141,750
4,212,314
—8'1
$51,033,545
10,199,650
4,482,158
2,706,955
+17-8
New Haven
Portland
Sprlngtleld
Lowell
Total N.
England;
Philadelphia
Pittsburg
Baltimore
Total Middle....
'
.
Detroit
2,499,048
Indianapolis
1,491,498
2,000,587
1,301,054
818,190,305
10,173,000
3,429,727
2,767,289
1,814,115
2,118,004
1,404,020
779,842
977,735
800,705,103
810,193,289
702,012
12.955,437
4,537,451
4,328,820
Chicago
Cincinnati
Milwaukee
....
Columbus
this week is that the corresponding
ago, although the clearings this
than last week, the total being
(1,842,341)
(294,900)
(37,071,000)
(45,179,000)
—34'5
Providence
Boston
Cleveland
A feature of the returns
8801,923,472
'
Worcester
Chronicle.
JOHN G. FLO\D.
8524,875,451
Percent
.Sales of—
Office, New York, N. Y., as seoond-olass mail matter. 1
For One Year
do
For Six Months
Annual subscription in London (including postage)
8ixmos.
do
do
do
•
These prices include the Investors’ Supplement, issued
New York
Ending Jan. 10
1885.
Per Cent.
1884.
1885.
Week
January 17.
Peoria
Total Western...
St. Louis
St. Joseph
New Orleans
Kansas
City
—10'4
-50
-8'4
-0'3
4-22*8
-4-7
-6T
+8-5
-67
-91
-26-9
-52
+3-9
+18-0
4-3-1
,
—9*7
-170
-4-9
—7*4
1,701,372
2,403,339
1,250,132
+24-3
+2-8
—20*2
699,538
-278
870,875.395
—5*9
$75,202,689
+13-8
817,874,214
825,207
15,377,045
—9*4
$17,645,274
554,927
10,751,672
4-6-4
-290
4 101 427
3,332,793
—5*3
—
11-9
—15*7
4-1 o-o
4-29*9
-190
4 Of*5 0^8
_1_1
4,703,493
2,290,134
+730
improvement over Jan. 10; they Memphis
+77-7
1,819,435
1,517,049 4-19'9
are Boston, Lowell, Milwauke?, Worcester, Peoria, St. Joseph
-5-8
4-4-8
$40,001,128
843,027,795
Total Southern..
840,537,050
and New Orleans.
Of these the three first named, and in addi¬ San Francisco
-4-2
+8-3
$12,452,874
813,391,357
812,830,518
tion Louisville, Kansas City and Memphis, present exchanges
-2f
$790,402,652
Total all
8792,884,709 $1,098,778,817 -277
in excess of a year ago.
In some cases, however, there is a
The clearings for the live days, as received by telegraph,
considerable loss, as for instance at Cleveland the decrease
make in the aggregate a comparison with last year 0’1 per cent
now is 5*3 per cent, whereas January 10 there was an increase
The totals, however, at all the cities
of 24*3 per cent, and Chicago replaces a gain of 17*8 per cent a better than on Jan. 16.
in
both
week ago with a decline of 8*1 per cent.
years exhibit a decline from the preceding period, the
In both of these
cases there is a loss, not only in comparison with last year, but falling off in most cases b£ing the greatest last year.
052.
Seven cities record an
with last week.
Five Days Ending
England section, owing to the increase exhibited
at Boston, records clearings this week 0'2 per cent in excess of
the corresponding period in 1884, against 1*9 per cent decrease
during the preceding six days. The other divisions all make a
less favorable comparison with last year than on January 10,
Jan. 23.
;
Five D'ys End'g Jan. 16
The New
the Western in
particular.
At New York there is a loss
against
a
exhibited of 34*5
decline of 33 per cent a week ago.
per
1885.
Per Cent.
-33-8
Boston
53,992,759,
Philadelphia
37,350,138'
$010,740,470
(2,135,082)
55,014,325
42,001,005
Baltimore
10,517,995;
12,305,300
14,040,01 Oj
—12*3
$732,740,228'
-29*3
New York
Sales
of Stock (shs.)
cent
Tiie transactions
1884.
Total
$404,223,583
(1,174,279)
$518,395,775!
10,337,812j
(-45-0)
1885.
i Per Cent
$440,050,020!
(1,550,849)
—33-1
(-27*2)
-T9
57,377,490
4-0-9
-12*3
38,020,580
-20 0
+ 1*7
12,284,128
13,741,809
-90
$507,474,030
-29-4
-90
THE CHRONICLE.
104
Wall Street has had
this
anxiety.
heavy forces to contend against
much
have yielded, but only
week, and has shown under the circumstances
Prices in some cases
pretty severe hammering and many untrue reports.
strength.
after
bill with reference to this subject need cause
to pass a
THE FINANCIAL SITUATION
[VOL. XL.
greater source of disquietude is the lack of con¬
fidence, which new instances of corporate mismanagement
A far
and breaches of trust
closures
are
in most
are
cases
causing. These dis¬
less frequent and important than
all the time
The most serious adverse influence has been the distrust
which the failures of last week and the
they were, but scarcely a week passes without one or more
defaults of the last bank defalcations being announced, or dishonest scheming
giving the % opportunity for and
encouraging the circulation of reports of other similar dis.
asters impending, which had no better foundation thah
the foul and fertile imagination of the worst class of
The use of such a weapon to influence
rumor-mongers.
the market is not only wicked but mean; it is like poison¬
ing the very air we breathe—no one but a sneak could do
it, and none but the strongest can survive it.
There has been an inclination also among those who take
counsel of their fears to accept the action of Congress
on the M ;Pherson bill as assuring a very embarrassing con¬
traction of our currency during the coming year.
With¬
out passing any opinion upon either that bill or the Potter
refunding bill, we think the danger in question is very
greatly exaggerated. According to the Comptroller’s report
made to this Congress, the country had on the first of last
November 7G million dollars more currency than it had on
the 1st day of November, 1882, when our present business
depression began. Though we cannot accept that state¬
ment as strictly accurate, still the conclusion it brings
us
to is correct, that while
our
needs have largely
decreased by
reason of
the inactivity of -business
we
have been materially adding to our currency supply
and forcing it into circulation.
The consequence is, the
channels of commerce are to-day stuffed so full of cur¬
rency that every bank is overflowing with surplus cash,
money is worth next to nothing and capital is passing out
of the country to obtain employment in Europe which it
Then again the experience of the past
cannot find here.
year shows that there is no reason to believe expiring
banks will give up all their circulation, or that the holders
of 3 per cent bonds which may be called, will not to a
two
weeks have bred,
of
being brought to light.
developments naturally enough keep the public
of
some
Such
mind
our
railroad managers
a nervous state) disturbed regarding the
Street markets, and especially when
drawn into discredit which heretofore have
(already in
the Wall
future of
securities
are
high in public estimation. So far as the silver ques¬
tion is concerned, there seems at the moment a pros¬
pect of relief. The Finance Committee of the Senate
is apparently disposed to
attach an amendment to
the trade dollar bill now before it providing • for
the suspension of the coinage of the standard dollar
after January 1st next, and meanwhile seeking to re-open,
before a Monetary Conference of European nations, the
subject of bi-metallism. If judiciously pressed this measure
may be carried before the adjournment.
Its importance
fc so obvious, and its bearing upon all financial and busi¬
ness interests is so direct, that we cannot but have a hope
that it will meet no serious obstacle in its passage through
either House.
With that cause of anxiety removed, the
stood
only evil which time cannot cure, would be out of the way.
Bank directors will learn watchfulness by experiencing the
losses their lack of vigilance has permitted ; and as to
dishonest railroad management, it is at wor3t but a tem¬
porary scourge.
The courts are likely to be occupied with
suits arising out of these overreaching schemes, and the
prominence given them through the press will warn the
public against investments in any of the properties con¬
trolled by tricksters.
There has been little this week that is new with regard
to the rate wars and pool arrangements except rumors.
The Pennsylvania road has continued its charge for immi¬
grant business on a basis of one dollar to Chicago—West
considerable extent take other bonds.
This statement Shore announced that it would sell tickets at the same price,
finds illustration in the following, showing the United but it is not clear that it has done so as
yet, the report being
States bond holdings of National banks to secure currency that the GrandTrUnk, its Western connection, does not see
on the first of
January and first of July, 1884, and the the wisdom of taking traffic that is certain to net a loss.
first of January, 1885.
What the meaning of the Pennsylvania's action is it would
be difficult to say.
GOVERNMENT SECURITIES HELD BY NATIONAL J5ANKS.
Had it put the price at any higher
figure just covering the cost, the explanation would be
.l.s Security for Circulation'.
obvious.
Now,®to be sure, it has its own way, carries all
United States Bonds held by National]
1885.
Banks.
1SS4.
jI January
1S84. l.
the
immigrants, and foots the bill. Rumor persists in con¬
January 1.
July 1.
33 act July 12, 1882
j $193,481,900 8172,412,550 8147,360,200 necting this action with the West Shore and New York
3,510,000
3,5:18,000
Currency 6s...
.3,408,000
Central contest: there is however no evidence of such fact.
40,433,05'J
12.584,000
40.546,400
4}^ per cents
As to trunk line freight rates, it is stated that the east
118.332,900
4 per cents
107,512,300
111,075,900
—j
422,000
5s extended at 8>-J.
$317,538,200
! $.‘134,132,850 l $318,655,050
that
although during the year 188 4 the
holdings of 3s decreased 4G million dollars, so many other
bonds were taken out that the total of all issues only
decreased 29 million dollars.
Remember, too, that during
the year a number of banks failed and were forced to retire
their circulation, and that the Metropolitan of this city,
with its large amount of .bank currency, was among that
number; furthermore that the charters of 219 banks, with*
89} millions capital and GO.} millions circulation, expired
in 1 SS L, and yet the national bank circulation (according
to the monthly returns made to us by the,Comptroller and
published in the ■C’iiuoxici.k) only declined during 188-4
about twenty-live million dollars.
Surely with such facts
as these to
guide opinion, one cannot believe that the
Here
we
see
contraction which will result from the failure of
^mmd schedule has been abandoned, but that no business
is done
at
less than 20 cents per
100 pounds on .grain,
plenty of freight offering at that figure. West-bound
freights, too. were officially reduced yesterday afternoon.
General business seems to be without any special
change. There is a fair movement in merchandise in
purchases being made with a degree of liberality,
yet buyers are conservative. They have reaped the
benefit hitherto of the policy of buying only to meet
immediate wants, and they are apparently disinclined to
change that practice. Still, there are evidences of return¬
ing confidence.
Furnaces and factories that have been
idle are starting up once more, and labor is j certainly far
better employed than at the (dose of the year.
Of course
it is easy enough to add, as some do, that they will over¬
stock the market with their products, and have to stop
Congress again. On that point all we can say is- that the outlook
progress,
and
January 24,
105
THE CHRONICLE.
1885.]
view, though
haste slowly.
Railroad earnings also continue to show quite general im¬
provement, the advance in the price of breadstufTs having
driven "out of farmers’hands liberal quantities of. grain
does not encourage such a
without doubt this is a good time to make
at the moment
produce.
A prominent feature
rise in foreign exchange.
and other
competition—particularly on this Southern line—
become a factor of some importance, whose results
I ncreased
has also
closely watched.
In comparing 1884 and 1883, of course we compare on
an even basis—that is, we have the Southern line included
have been
in both those
years,
where previous to 1883 its
accounts
were separate and.distinct from
those of the Illinois Cen¬
of the week has been a further tral. Making this comparison, wo find that there was a
.Bankers also report the market loss of $854,88!) m gross earnings, but that $386,533 of
strong, with a fair demand from importers of goods, while this was otfcet
by a reduction in expenses, the manage¬
there is somewhat of an urgent inquiry for long sterling
ment presenting in this respect a very much better show¬
for investment.
Commercial bills are scarce, although the
ing than many other large roads, which report an increase
movement of cotton is large, and that of wheat compar¬
in expenses in the face of diminished receipts; the loss in
atively heavy, and this shows that the demand is suifi- net. therefore, is ou:y .$408,156, which a loss of $190,052
ciently great to absorb offerings and to force rates higher. in income from outside sources raises to about live-eighths
The present condition of the market is clearly due to the
of a million.
The Illinois Central stock, however, is
investment inquiry for long bills and the steady transfer
small—29 millions—and this loss of $658,208 exceeds
to London of the proceeds of a considerable part of the
by $78,000 the 2 per cent extra dividend declared in
maturing sterling. All the foreign bankers appear to be
1883, and explains the reason why a similar extra pay
engaged in the business of supplying this investment ment was not expedient in 1884.
demand. There is therefore a ready market for all com¬
But even after losing $658,208 net, there is on the
mercial bills that are made, they being bought as a basis
basis of the smaller dividend payments in 1884, a surplus
for future drafts of long bankers’ sterling.
Bankers and of
$362,782, against only $156,909 in 1883. That is, the
brokers handling exchange, finding the market so strong,
company could iiave distributed over one per cent addit¬
have no hesitation in trading in the bills and thus the
ional (making 9 per cent for the year) and yet have had a
'.competition for them is increased, so that they are rapidly
surplus not very much less than in 1883, after a 10 per cent
absorbed. Some of these investment purchases of bank¬
distribution.
The question occurs, then, how was the
ers’ sterling are carried by the trust companies and by a
increased surplus brought about. Solely and exclusively
few of the banks at current rates for money until the
through a reduction of the amount devoted to construc¬
bills mature, when they are offered to and in many
tion account.
The Illinois Central, like many other con¬
cases
purchased by the bankers originally issuing
servatively managed Western roads, sets aside a certain
them.
With the proceeds purchases of other long
sum each year out of net earnings for improvements and
sterling are made and the operation repeated, yield¬ betterments in its property. The amount so applied in
ing a- profit at each turn. Others of these pur¬ 1884, it appears, was only $220,000, while in 1883 it had
chases are sent to London for acceptance and after
been $632,529.
The amount spent for construction
being paid the proceeds are deposited with the joint account in 1882 on the Illinois line alone was $1,271,452
stock banks, where they draw about 3 per cent interest. It is
and in 1S81 on this division it was $925,380, and in 1880
of course impossible to trace these transactions or to deter¬
$842,324. A hasty inference from this would be that the
mine with any degree of accuracy how much has 'been
property is no longer kept in its former efficient state.
bought for a quick turn, what quantity for investment, and That does not follow by any means. It should be remem¬
what carried by our banks and trust companies and what
bered that this construction represents not operating
amount has been sent abroad for deposit.
At the moment
expenses, but additions to property, which many compa¬
it would seem as if exchange must go higher because
nies less carefully managed would charge to capital account,
usually at this season it is strong, and also for the reason and with
perfect propriety, too. One reason why the
that the investment demand is supplemented by deferred
amount may be much smaller now than formerly, is,
remittances for goods.
But it is not thought probable
that the more spent for this purpose in the past, the
that there will be a much further rise for the present, even
less need there is for additional expenditure on the same
under these exceptional conditions, for very soon spec¬
account at present.
And further, such use of net earnings
ulative bills will be drawn by bankers who expect to
must necessarily be restricted to the more prosperous
cover them
with grain bills towards the close of the
years.
When business is good and profits heavy, the man¬
spring.
agers can well afford to apply large sums annually
Illinois Central has issued this week an abstract of its
in> the making of improvements, &c., even where not
exhibit for the year 18S4, showing that the company is
needed at the time, but when business is poor and times
passing through the present era of depression in excel¬ are bad such outlay is justifiable only when absolutely
lent form.
Of course the extra dividend of 2 per cent
required. Besides, we see that $250,000 of the 1884 sur¬
(raising the total for the year to 1 0 per cent) paid in the plus is to be used in purchasing new equipment.
previous year, is not repeated, which bears out our remarks
Bankers’ balances remain unchanged, and there is no
made last March in reviewing the figures for 1883 that
feature to the money market. The following statement,
there was little probability that if would be repeated.
made up from returns collected by us, exhibits the week’s
But there is a considerable surplus above the 8 per cent
receipts and shipments of gold and currency by the New
actually paid, and a road that can earn 8 per cent for its ^ ork banks.
stockholders in times like these is certainly doing well and
Net Interior
Shipped by
Received by
its management deserving of congratulation.
The Illinois
Ending Jan. 23, 1S85.
Movement.
N.Y. Banks. N.Y. Banks.
new
Central is noted for its
clean and conservative
record, and
good results are expected of course. The present exhibit,
however, is particularly gratifying because of the new
departure taken two years ago, which created a little
uneasiness as to the possible outcome. The company then dis¬
tributed
the
a
17 per cent
stock dividend and
operations and rental of
assumed in full
the leased line, to New Orleans.
Week
Dnrrfincy...
,
J3.100.000
■Sold
Total sold and
leKal tenders
The above shows
$3,100,000
*157.000
(lain. |2,913,000
150,000
Loss..
150,000
1307,000
Iain..
12,703,000
the actual changes in
the bank holdings
gold and currency caused by this movement to and from
the interior. In addition to that movement, the banks have
of
THE CHRONICLE.
106
[Vol. XL,
gained $300,000 through the operations of the Sub-Treas¬ facturing needed nothing so much as cheap fuel, in order
ury.
Adding that item to the above, we have the following, to reduce the cost of good, the managers of the coal com¬
which should indicate the total gain to the New York panies maintained old prices with a persistency and
Clearing House banks of gold and currency for the firmness which if they had been applied with
week covered by the bank statement to be issued to-day.
equal force in another direction might have yielded
more profitable results.
Then knowing that the pro¬
Net
Change
in
ducing capacity was already far in excess of consump¬
Into Banks. Out of Banks
Week Ending Jan. 23, I8fc5.
Bank Holdings.
tion they adhered to the plan of periodical restrictions—a
Banka’ Interior Movement, above..
1307,000 Gain. $2,793,000
13,100,000
Gain.
300,000 plan which made it to the interest of every company
300,000
Sub-Treasury operationp, net
to
Gaia.
Total gold and legal tenders
$3,093,000
1307,000
13,400,000
produce as much as it possibly could in the
days allotted to work, and consequently put a pre¬
The Bank of England gained £312,742 bullion during
mium upon the sinking of new shafts and the opening of
the week.
This represents £303,742 received from the
new collieries, which most of
the companies were not
interior and £9,000 from abroad.
The Bank of ^France slow to avail themselves of. Thus it
happened that the
gained 1,405,000 francs gold and 2,146,000 francs silver, and number of idle
days had to be greatly enlarged, and
the Bank of Germany since the last report increased 11,yet no material curtailment of production ensued. Further,
021,000 marks. Tiie following indicates the amount of the
high prices maintained encouraged attempts on the
bullion in the principal European banks this week and at
part of producers of bituminous to supplant anthracite—•
the corresponding date last year.
attempts which have met with a considerable measure o f
Januai'y 22, 1885.
January 24, 1884.
success.
But most
Bank of
Silver.
Gold.
Silver.
£
£
£
£
21,613,997
21,657,054
39,932,830 42,074,274 38,019.200 39,786,373
6,653,000 19,959,000 7,416,000 22,248,000
England
Bank of France
Bank of Germany
Total tills week
Total previous week
Gold.
....
68,199,887 62,033,274 07,092,254 62,034,373
67,493,147 61,534,072 66,543,073 61,238,653
incomprehensible of all was the treatment of
the Pennsylvania Railroad Company.
With the close of
last year the managers of the coal roads finally awoke to
the fact that it was time to stop stimulating the opening
of new mines, while the demand was steadily being lessened,
and one or two of the companies also objected to the
further continuance of the old policy, as it permitted cer¬
The
Assay Office paid $ 138,634 through the Sub-Treasury tain of the lines in the combination to thrive at the expense
for domestic bullion and $107,637 for foreign bullion of the rest.
So the allotment plan, by which each interest
during the week, and the Assistant Treasurer received the is allotted a certain percentage of a fixed total production,
following from the Custom House.
again came in vogue, though the way the companies went
about introducing it, did not greatly encourage belief in
Consisting of—
its success.
A very difficult problem for the combination
Date.
Duties.
V. 8.
Gold
Silver Cer¬
Gold.
to solve was how to deal with the
Notes.
Pennsylvania Railroad
Certifies.
tificates.
in
interest
the
mining of coal. The Pennsylvania had
Jan.16.
$5,000 $107,000 $27,000
$295,417 63
$156,000
17.
463,716 19
7,000
201,000 steadily held aloof from the combination in
185,000
75,000
past years—•
19.
5,000
566,237 23
193,000
183,000
180,000
with great advantage to itself, too—but its
producing
20.
386,656 76
4,000
141,000
115,000
126,000
21.
315,112 20
113,000 capacity had become so great that it was no longer possi¬
8,000
96,000
93,000
22.
4,000
53,000 ble to
254,299 50
66,000
122,000
ignore it, and accordingly in fixing upon a figure
Total.
$2,286,439 56
$33,000
$760,000 $661,000
$821,000 for the
year’s production, some allowance had to be made
“
“
“
“
«
o
for that road either within
c
COAL
PRODUCTION
AND
THE
POLICY
THE ROADS INTERESTED.
or
without
the
It was to the interest of the combination of
OF the
Pennsylvania to come within the fold. In
of
combination.
to
get
this condition
course
things one would naturally have supposed the road would
In the
present muddle in which the coal companies find be accorded quite liberal treatment at the hands of the
themselves involved, facts and figures bearing upon their other
companies and be assigned at least a fair
relative production possess unusual interest.
The forces percentage, based on its production in the past. Instead
against which the coal trade has to contend at the moment of that the combination allowed it only 8 per cent of a pro¬
are
the increase
in facilities
and consequent
producing posed production of 30 millions, whereas in 1884 it had had
capacity of the companies, the depression in manufactur¬ 10^ per cent of a larger production—that is, it was asked
ing and general business, and the encroachments made by to mine only 2,400,000 tons in 1885 against an actual pro¬
soft coal, under the lower prices for the latter.
Statistics duction of 3,169,287 tons in 1884, and this, too, when the
as to
comparative and total production by the anthracite road had, by the extension of some of its branches, made
roads are published in various forms, but the figures of
preparations for increasing its supply. In other words, it
Mr. John H. Jones, the accountant of the companies, fur¬ was invited to cut down its
output 769,287 tons for the
nished monthly, are regarded as official, and as the state¬
privilege of joining the combination.
ment for December has just been issued, a review for the
•Finally, infixing upon 30 millions as the production, and
past year and of previous years will prove useful.
consequently also consumption, of 1885, the combination
At the outset, however, it
should be said that would appear to take a very sanguine view indeed of the out¬
the course of the coal companies of late has been look.
With business languishing everywhere, with man¬
strangely inconsistent with their own interests. Those in ufacturing involved in the deepest kind of gloom, it seems
control seem either to have understood the situation but
very doubtful whether the companies can market 30 mil¬
lion
tons during 1885.
imperfectly, or else to be lacking in ability or disposition to
But it will be asked how does this
deal with it.
Confronted by a state of affairs that re. figure compare with other recent
years.
To answer this
quired prompt and energetic action to avoid disastrous question we have prepared from Mr. Jones’ reports
consequences, they have pursued an uncertain, vacillating the following statement
of the production of each
and temporizing policy that has only increased the ills ex¬ interest
during each of the last five years, and have
added
the
amount for 1885 on the basis of the allotment
and
isting
proved of but little good to any one concerned.
At a time when all industries were depressed and manu¬
proposed.
January
of Road.
1885.
Tons
18&4.
To ns.
1883.
Tom.
1882.
1881.
1880.
Tons.
Tom.
Tons.
Reading*. 11,655,000 11,163,920 12,232,401 11,211,165 11,025,806 9,404,065
5,880,000 5,935,254 0.271,773 5,933,739 5,721,869 4,394,532
.Lehigh Valley
3,550.348
Del. Lack. & West. 4,815,000 5,204,361 5,079.122 4,638,717 4,388,969
Phila. &
8,800,000 3,362,679
2,400,000 3,169,287
1,500,000 1,397,945
484,844
450,000
Del. & Hudson
Pennsylvania RR.
Penna. Coal
lErip
Total
3,203,168 3.211,406 2,674,705
2,332,973 2,211,363 1,864,031
1,469,820 1,475,380 1,138,467
411,094
465,230
330,510
80,000,000 30#718,290 31.793.024 29.120.092 28,500,023 23,437,242
Stock at tide-water
at end of year.. .
*
3,512,971
2,778.418
1,541,145
382,194
874,681
748,330
562.116
1^ million tons per month, and in March to
1,800,000 tons, making 4,800,000 tons for the quarter.
This certainly does not appear excessive.
But it will be
interesting to see how the combination has disposed of the
remainder of its 30 million production on that basis, and
be limited to
Actual Production.
Allotment
Name
467.024
have divided the year into quarters,
give the allotment for each quarter in comparison with
the actual production in preceding years.
It may throw
some light upon the plans of the managers.
for this purpose we
and
500,273
Including Central of New Jersey.
This table confirms
shows that the
107
THE CHRONICLE
24, 1885 ]
Production
| Allotment
all that has been said above.
It
}
production in 1884 was with one exception
larger than in any other year given. And
there were 103 idle days at the mines, against
yet in 1884
only 60 in
by Quarters.
Quarters.
First quarter
j
Second quarter....
Third quarter
1884.
1885.
Tons.
Tons.
1882.
1QS1.
1880.
Tons.
Tons.
Tons.
Ton9.
4,800,000 5,673,721 0,389,249 5,547,195 6,026,601 4,807,759
7,300,000 7,485,530 7,621,513 7,016,938 0,450,836 5,504,361
9,300,000
j
1883.
8,832,915 9,024,751
8,600,000 8,726,124 8,757,511
8,214,093 7,893,866
8,341,866 8,128,660
6,374,789
6,750.333
1883, and only 48 in 1882. The production, though one
million tons less’than in 1883, is 1,600,000 tons greater
Fourth quarter
though in 1884 there was a
stoppage of 103 days against but 48 in 1882, such was the
increase in producing capacity that the tonnage mined in¬
creased over a million and a half tons.
Note, too, the
effect of the large production upon stocks on hand; these
have been steadily increasing, till at the end of 1884 the
quantity at tidewater was 874,681 tons, against only 467,"
024 tons at the end of 1881.
As bearing upon the re¬
quirement for the current year, it should be observed that
even in the prosperous year 1880 the production was less
than 23£ millions, though in the very next year—1881—
it rose to 28£ millions.
suggestion that occurs to one in examining
this statement is whether the allotment, as arranged for
1885, has been seriously intended. After fixing the out¬
put for the first quarter at 4,800,000 tons, or as low as in
1880, when the production for the year was only 23£
millions, they make the output for the second and fourth
quarters close up to the highest figures ever reached, and
for the third quarter actually above the largest previous total.
For this third quarter the allotment is 9,300,000 tons, or
about half a million tons in excess of the actual output in
1884.
Now, does it seem reasonable to suppose that even
with some revival in business the combination can market
in this period more coal than in the best and most pros¬
perous years they have ever had? It should be remembered,
too, that this allotment was on the supposition that the
Pennsylvania would join the combination, and therefore
limit its production to 2,400,000 tons, whereas it seems no
exaggeration to suppose that the actual production of that
than in 1882—that is to say,
But the feature of most interest
in the above table is
changes in the tonnage of individual roads as revealed
by comparing the figures of 1884 with those for 1881.
We might compare with 1880, but that would hardly
answer as well, since the tonnage
of all roads was very
small then, and in the next year there was a decided and
heavy improvement, in which naturally every company
participated, and which therefore offers better average
totals.
Now as between 1881 and 1884 production in¬
creased nearly 2^ millions, and this inured to the
benefit of chiefly two interests, the Pennsylvania and the
In the case of all
Delaware Lackawanna & Western.
the other roads the changes between 1884 and 1881
the
!30.000,000:30,718,290
Total
The
31,793,024 29,120,092 28,500,023 23,437,242
first
interest will be about
a
million tons greater.
Equally difficult to understand is the action of the com¬
week, in appointing a committee to get the
Pennsylvania to reconsider its determination and, failing
that, to consult with individual operators along its line and
make arrangements for restrictions with them.
As re¬
gards the first part of this proposition, it will be remem¬
are
not very marked.
The Lackawanna, however, has bered that the proposal of the coal roads was fully
gained 815,392 tons, and the Pennsylvania 957,924 tons, considered by the Pennsylvania directors, and definitely
which shows how largely both these companies have rejected., In refusing to accept it, the Pennsylvania people
increased their producing capacity.
The Pennsylvania of expressed no opinion as to whether they considered the
cours e has been outside
of the combination all the time, award of 8 per cent to their line satisfactory or unsatis¬
and therefore has not been bound to the policy of restric¬ factory, but laid down the broad principle that it was not
tion.
But the Lackawanna was bound by the pool regu¬ to the Pennsylvania’s interest or the interest of the public
lations, and has made its increase despite a stoppage of for the company to join in any restrictive policy whatever.
103 days, showing that the road has been steadily enlarg¬ Now does it seem likely that such a corporation, after
ing its capacity as an offset to the diminution in output formally and emphatically declaring against a certain
that the policy of periodical suspensions entailed upon it. policy, would stultify itself by rescinding its action and
How the companies arrived at their percentages is adopting a different course ?
As to consulting individual
easily seen, now that we have the output for 1884. It operators, that can be don&, but whether any great amount
having been determined to cut down the total production of good would be accomplished looks doubtful. One or
from 30,718,290 to an even 30 million tons, the full two large operators might agree to restriction, but in the
amount of the 718,290 tons reduction, and a trifle more nature of things any unanimity of action between all is out
of the question.
was generously taken from the Pennsylvania’s proportion,
Besides, there is one fundamental error involved in this
Then since the policy of restriction in 1884 had borne
most heavily upon the Reading and that road was dissatis¬ method of dealing with the question; it is the assumption
fied, to appease it the Lackawanna apparently consented that the Pennsylvania Railroad is not a producer of coal,
This is an error that is very deeply
to transfer to it about 400,000 tons of its own ton¬ but simply a carrier.
rooted,
difficult to eradicate. It has found
and
apparently
nage, and this being done, the proportions of the other
lines were fixed upon without much difficulty by using the endless repetition, and is iterated and reiterated in various
figures of 1884 with but slight alterations.
bination also decided to divide the 30
But the com¬ publications.
Now, the Pennsylvania is a
producer of
millions production coal, and a very heavy one, too. The fact is, only a small
so much per month, part of the company’s anthracite tonnage is secured from
For instance, it was outside operators ; the largest proportion is mined under
agreed upon into stated amounts of
varying according to the seasons.
decided that in January and February the output should
bination this
1 the company’s own
auspices.
We undertook to establish.
THE CHRONICLE.
108
[VOL. XL.
The gross
this two weeks ago, but in view of the widespread notion
that the reverse is the case, we give here the full details bear¬
amounts for 1884 (that is the total product,
including British Columbia and west coast of Mexico,) Mr.
ing upon this branch of the subject. We have succeeded,
too, in obtaining the figures for 1884, which adds greatly
Valentine divides
to the
value of the statement.
The Pennsylvania con¬
directly four anthracite-producing companies, and
subjoined are their names and a record of tlieir output for
five years.
The figures are all official, and those for 1884
have not been published before.
trols
Tbns Mined.
Pennsylvania Railroad
Goal Companies.
Susquehanna Coal Co...
Summit Branch lilt Co.
Lykens Valley Coal Co..
Mineral HR & Min’# Co.
Total
nence, in ine
1883.
1KS0.
1,297,729
1,117,015
904,192
864,545
185,922
389,912
317,914
401,891
178,315
439,824
167,785
416,331
2,250,087
2,015,096
1,800,222
year i ooi me companies
Silver..
Copper
$26,256,542
45,799,069
6,086,252
6,834,091
Per cent.
$84,975,954
Total.
If to the above total
gold production in the States and
(which, as will be
Territories west of the Missouri River
given at $25,183,567), we add say about six
is
thousand dollars for States east of the Missouri
hundred
gold production has now been reduced
below 26 million dollars, while the silver production is again
171,417
385,379
increasing, reaching for 1884 a total of about 43^ million
1,560, £06
1,721,429
It should be said in passing that the Mint Bureau
dollars.
upeiaueu. jji one figures of gold production, are always somewhat larger
772,422
230,988
851,971
256,390
173,990
439,078
River,
in the same year was 3,109,287 tons—that is, con¬
siderably less than one-third came from outside operators.
Now, supposing that arrangements could be made with all
these latter, constituting one-third, what would it avail so
long as the other two-thirds were left out ?
But what is to be done ?
First, recognize the fact that
the Pennsylvania interest will not come in and that plans
must be made without it.
Second, recognize the needs of
the situation and supply the public with cheap coal.
This
latter is imperative before any recovery in business can be
expected. Lastly, prepare to meet the competition of soft
coal.
This should have been done before, but it is not too
the
company
will prove more difficult than it
find
we
our
last year
Thus
Mr. Valentine’s.
(1883) the Mint
gave the total at .30 million dollars; whereas in the above
for the same year the amount is $27,816,640.
Of course
than
yet, though the effort
8°hoo
Lead...
Pennsylvania interest mined over two and a quarter million
tons of anthracite coal.
By looking at the figures in the
first table above it will be seen that the total tonnage of the
late
gold, silver, &c.
3O$o100 per cent.
5390100 per cent.
7iGioo per cent.
Gold...
seen,
1881.
1882.
1884.
below between
as
Director of the Mint includes States east of
the Mis¬
souri, which in 1883 contributed about $500,000 to the pro¬
duction, and it is for the purpose of bringing the two esti¬
nearly into accord as possible that we have added
mates as
1884 six hundred thousand
Valentine’s total for
to Mr.
dollars
States.
those
for
A
short time since there
wide disagreement between these
two authorities.
Those most familiar with the subject,
and notably our bullion brokers, have however never ac¬
cepted the Mint’s larger estimates. It is very satisfactory,
therefore, to note that this difference is growing to be
much less than formerly, more especially as recent dis¬
closures fully sustain Mr. Valentine’s methods.
A good
was
always
a
very
Profits may temporarily be illustration of this latter assertion is contained in the fob
reduced under such a policy as this, but it is the only solu¬
lowing statement, giving the Mint figures under Mr.
tion of the existing difficulty on a sure basis. Restrictions
Burchard and those under his predecessor in office, Dr.
and combinations never work well in times of diminished
Linder man, side by side with Mr. Valentine’s annual
consumption ; and though for a brief period the existing
status might be maintained, sooner or later a readjustment returns.
in the way suggested would be forced upon the companies
Mr. Valentine’s
Mint Bureau’s Estimates.
as a matter of self-preservation.
Estimates.
would have
a
year
ago.
Net
AND DISTRIBUTION.
features in the statistics of gold supply
GOLD PRODUCTION
There
which
are
are
two
attracting chief attention just now—one
importance becomes the more obvious in
latest information respecting production.
the
PRODUCTION
GOLD
OF
AND
the light of
been
this latter
received
point
with great
Gold production
after deducting
by Mr. Burchard,
Estimate gold
production by
Linderman,
Dr.
Director of Mint.
Mexico.
1881
*
25,183,567
27,816,640
29,011.318
30,653,959
1880
32,559,067
Year.
1884
1883
...
..
.
1882
Total from
145,224,551
1830 to 1834..
1879
31,470,262
1878..*
1875
37,576,030
44,880,223
42,886,935
89,9^8,194
1874
38,466,488
1877
1876.
1884
i
380,472,683
.
$
27,000,000*
80,000,000
32,500,000
34,700/00
36,000,000
$
*
160,200,000
38,899,858
51,206,360
46,897,390
39,929,160
33,467,856
33,490,902
160,200,000
38,899,858
404,091,532
421,175,966
50,226,107
45,100,000
46,750,000
40,000,000
40,000,000
figures of Mr. Burchard for 1884 are not made up yet, but we
$27,000,000, on the basis of last year’s excess over
Mr. Valentine’s estimate.
*
we
production
United States
Br. Columbia and Director of Mint.
Total 1874 to
SILVER.
have received this week the
annual statement of Mr. Valentine, of Messrs. Wells, Fargo
& Co., covering the yield of gold and silver for 1884.
These compilations made by Mr. Valentine have always
On
*
is the
decreasing production and the other the increasing con¬
sumption. The first really valuable contribution to the
world’s knowledge on the point of consumption is the facts
with regard to the United States collected by Mr. Burchard,
the Director of the Mint, and given in his last annual report
The results of his investigations are valuable in themselves
and also otherwise useful because so suggestive.
But
their
Gold production.
The
estimate them at
In
explanation of the above, it is necessary to say: (1)'
Burchard, the present Director of the Mint, was
That Mr.
confidence by the trade, and appointed to that position in 1878-9, and that Dr. Linderman
was
the Director of
the Mint for many years pre¬
correct an indication of the pro¬
vious.
That Mr. Burchard during his first year in office
duction of the United States as it is possible to secure.
(see page 19 of his report for 1879) repudiated and revised
His total figures since 1880 are as follows.
the estimates made by Dr. Linderman for the years 1874 to
The Net Products of the States and Terri¬
Product,
Product,
1878 inclusive, fixing them as they are given for those
tories west of the Missouri River, exclusive
including
deducting
Calendar
of British Columbia and West Coast of
am’ts from British Col¬
years in the column headed with Mr. Burchard’s name.
Year.
Mexico.
undoubtedly furnish
as
British Col¬ umbia and
umbia and
Mexico.
Lead.
Mexico.
1880
1881
1882
1860
1 Copper.
Silver.
Gold.
180,167,936 $77,232,512 $5,742,390
6,361,902
81,198,474
84,504,417
8,008,155
89,207,549
92,411,835
8,163,550
84,639,212
90,313,612
#38,033,055
42,987,613
48,183,039
42,975,101
$32,559,067
1,195,0(j0
4,055,037
5,683,921
6.834.091
6.036.352
43.529.925
25.183.567
84.975.954
81.613.835
$898,000
30,053,959
29,011.318
27,816,640
(2) In the last column we repeat the total of Mr. Burchard’s figures since 1879 and then add for compar¬
ison
the annual estimate
of Dr. Linderman for previous
made by him while Director of the
published each year in his annual report.
years
Mint and
Presented
January 24,
in this form, no
109
THE CHRONICLE.
1885.]
reader can hesitate which
authority to
That the Mint reports cannot be followed is suf¬
ficiently evident in the fact that Mr. Burchard, the present
Director, says his predecessor’s figures are all wrong, while
Mr. Burchard, in attempting to correct the errors he has
discovered, furnishes other estimates indicating such a mar¬
velous variation in annual production, that any one ac¬
quainted with mining history rejects them at once. But
the most decisive fact about it all is, that if one adds up
the five years (from 1874 to 1878 inclusive) of new esti¬
mates made by Mr. Burchard in 1879, the total will be
accept.
With these suggestions in mind the reader will
details of the results reached by Mr.
rcliard, which are as follows.
economy.
be interested in the
B
only about one million dollars from the
total of the old estimates for the same years made by Mr.
Valentine the first of each January, although each of Mr.
Burchard’s new annual totals varies in a marked manner
from Mr. Valentine’s for the corresponding year.
All this
is important chiefly because it makes necessary a revision
of former results based upon these erroneous Mint esti¬
mates of production, which revision we have made in our
found to differ
tables further below.
GOLD MANUFACTURED
IN THE UNITED
STATES.
3 3
•gS 3aS
Manufactures.
£
Stamp’d
U. S.
Coin.
a
a
U.S.
or
Retin’ry
Native
Old
Jewel¬ For’gn Nug’ts
ry,
Ac.
Coin.
*
$
575,812 2,976,550 38,101
1,907
374,997 286,884
700
3,775
33,437
0,100
90,325
14,578
OS
3,568
17S,424 792,551 57,498
3
32
Watch chains ..
Dental supplies.
14
Pens
14
7
Leaf
51
Plate
219
Spectacles
41
379,291
192,400
Chemicals
27
7,433
07,928
7,169
7,685
11
24,498
13,983
or
Total
Rolled
Gold.
Plate.
liars.
S
Watch case3—
&c.
Wire
$
3,598,308
827,000
135,410
37,912
145,924
2,134 27,500
942
621
5,190
6,700 42,835 1,084,834
528,868
8,933 60,026
727
215,428
4,987
207 12,180
31,011
S
8
1,508
000
5,227
0,816
5,500
590
8.830
1,315
3,551
550
9,123
520
S
5,817
27,202
1,509
30,054
Jew’lry& watchmakers’
Jewelry
watohes
and
.......
Total
If
T
sup-
the
79,227
-
458,745 7,905,163
2,273 3,127,381 2,801,219 738,088 177,794 511,300
072.&S8 14,459,464
2,734 4,875,587.7,137,701 870,641 194,400 702,387
above is a correct return
from 2,734 manu¬
certainly within bounds in claiming
that the United States is consuming on the average more
Assuming, then, that the gold production of the United than 15 millions of gold (in that, of course, we do not
States in 1884 has net exceeded 26 million dollars, the include old
material) every year.
great decline which has taken place within a short time in
STOCK OF GOLD IN THE UNITED STATES.
the American contribution to the world’s stock of this
With the light thus obtained on these two points of
precious metal would be apparent even if all of the year’s consumption and production, we are in a position to indi¬
yield were available as a basis for the world’s currency. cate more accurately than lias been done before, the stock
But the recent investigations of Mr. Burchard show of
gold now in the country. We attempted this a short
that certainly not more than 42 per cent, or say 11 million time
since, but as these figures of production bring us down
dollars, can have been used for currency purposes, the to January, 1885, it seems desirable to revise the statement so
remainder having been consumed in the United States in
recently published, although we shall have to repeat in part
the arts and manufactures.
As this point is of wide inter¬ what we then said. Our inquiry starts with the stock of gold
est, we copy from the last Mint report the statement of on hand July 1, 1S78, that being six months before specie
Mr. Burchard on the subject, although we have published
payments were established. At that date the Treasury
and remarked upon it on a previous occasion.
The italics held of gold (less gold certificates) $103,562,000, and the
CONSUMPTION OF
GOLD
IN THE UNITED STATES.
are our own.
of obtaining more complete information in regard to
the use of the precious metals in the arts and ornamentation, circular
‘‘letters to the number of 7.9G9 were again sent to all persons and
firms in the United States, whose aidress could he obtained, reported
“
to he using and consuming the preoious metals for in iustrial piirposes. To these letters 5,413 replies were received, which showed the
*
consumption by 2,731 ])crsons and firms engaged in the manufacturing
“
or the repair of articles of ornamentation and use of nearly $14,500,000 worth of gold and over $5,500,000 worth of silver, a total of over
$20,000,000. This is an increase of $7,000,000 over that reported in
1832, when, however, less than half as man)/ persons and firms
“
For the purpose
“
“
“
“
“
“
“
reported.”
Notice the conclusions this statement
brings us to. (1)
have written
to all manufacturers, for he simply says that he sent his
circular to those whose address lie'could obtain; and as
there is an extensive body of small consumers, while the
uses in the arts to which it is put are quite numerous, it is
easy to believe that he has omitted many.
(2) Then again
he sent out 7,909 letters to the users of this metal and
received only 5,418 replies, or say only two-thirds of
the firms addressed replied.
(3) Then he adds that those
replying reported 14£ million dollars consumed in their
establishments during the year; what the other third which
did not reply used, or what should be allowed for those he
did not address, is of course mere conjecture.
(4) lie
The Director of the Mint does not assume to
facturers,
we
are
banks, including certificates, held of gold and silver only
301- millions, not altogether over 125 millions of gold, and
there could have been very little in the hands of the people
then.
We had just been through a period of inflation and
high gold premium, and under the influence of the
resumption movement the premium was seen to be gradu¬
ally lessening, and every one knew that gold was certain
to be at par soon, thus affording every inducement for
holders of gold to sell their stock.
Besides, banks then
kept special gold deposits, so that any one desiring to re¬
tain gold in any considerable amounts would naturally
make them the custodian—for the owner was thus saved
both risk and expense. It cannot therefore be presumed that
the people held gold outside of bank in any considerable
amount.
If we should put the total at 25 millions so held
very
all possible boards hid
away in private corners.
Or, as we desire to err on the
liberal side, let us call it 50 millions, which would give us
a stock of say 175 millions on tlie first of July, 1878.
Starting, then, with this stock, and calling the consump¬
tion 15 millions annually since that date, and using Mr.
Valentine’s figures of production after adding an average
of four hundred thousand dollars a year for mines East of
the Missouri River, we reach the following result as to the
states, however, that on a similar inquiry made in ] SS2?
when less than half as many reported as now, he found total amount of gold in the United States Jan. 1, 1885.
Stock July 1, 1878....
$175,000,000
over 7 millions less gold consumed, which fact would seem
Net import from July 1, 1878, to Jan. 1, 18S5
182,927,090
to justify us in adding several millions to t-he 14£ millions,
Production from July 1, 1873, to Jan. 1, 1885
193,000,000
if
we
would include those who are
unaddressed
on
this occasion.
be ample to cover
\
unresponsive and those
(5) Finally, Mr. Burchard’s
inquiry covers a year of business depression, when the
purchase of such articles as watches and jewelry must
have been restricted, as they belong to a class of luxuries
vrhieh must always be first given up in a period of enforced
it would seem to
Total
supply
Deduct six and a
half years manufacture
Leaving in United States
$453,427,090
($458,427,090) is an extreme estimate of
gold in the United States, is evident from what
That the above
the stock of
Jan. 1, 1885
$555,927,090
97,590,000
THE CHRONICLE.
110
has been said above. The visible
supply on the first of Octo¬
ber, 1884 (that is the latest date for which it can be made
up accurately, as there are no bank returns corresponding
with the date of the Treasury returns since then), was
268
million
dollars.
With, then, a total stock of
458£ millions, there would be left in the hands of the
people Jan. 1, 1885, say 190£ million dollars—a very large
estimate considering (1) that so very little gold is ever met
with in one’s daily business transactions, and (2) that no
accumulation of gold takes place in the aggregate of bank
and Treasury holdings at the present time, when all kinds
of paper currency are accumulating so largely, because
incomes are greatly shortened and industrial inactivity
reduces the people’s currency requirements.
54768811
THE
world’s
SUPPLY
AND
STOCK
OF
GOLD.
What has been said shows how
important it is that
all estimates of the world’s gold production during former
years, and of the present supply of that metal, should be
thoroughly revised. Carelessly made compilations were
well enough in days gone by, when it was really of very
little importance whether they were right or wrong, and
they have been repeated until age has given them a kind
of respectability.
Now, however, the nations of Europe are
making the attempt to contract the medium of the world’s
exchanges, by forcing commerce on to a single gold basis, and
thereby rob it of one half the currency it formerly used
and needed.
Is it not therefore very desirable that
we
take
an
accurate
account
of
stock
and
of
rejecting all those fanciful exaggerated totals which it has
long been popular to put afloat.
select committee
as
an
illustration.
In 1876
a
appointed by the House of Commons
to consider and report upon the causes of the depreciation
of silver, &c.,” having “ power to send for persons, papers
“and records.”
Under this authority the committee went
to work, and among other valuable
(?) “records” they ob¬
tained, was a compilation from Dr. Linderman, Director of
the United States Mint (see page 138 of the committee’s
report), giving an estimate of the gold production of the
United States from 1845 to 1875, both inclusive.
The
House of Commons committee of course accepted that
statement, it
having apparently the sanction of
our
Government, as being correct* and since that
date
statisticians
based
everywhere
have
their
estimates
upon
it.
And
there
yet
probably
never was a column of
figures issued by a, government
containing so much inaccuracy as that contains. Two of
the years (1874 and 1875) included in Dr. Linderman’s
statement, and the two which were the most recent when
he prepared them, and therefore presumably the nearest
right, Mr. Burchard revised in 1879, as we have stated
above, and deducted about seven million dollars
from
each
year’s total.
Furthermore, the esti¬
mates are discredited by Mr. Valentine's reports, which
go back to 1870, and furnish annual totals very con¬
siderably less, averaging for instance for the two years
1870 and 1871 about 34 million dollars, against Dr. Lin¬
derman’s average of 47 million dollars.
And finally the
Linderman statement is discredited by our trade
figures
of gold imports and exports, some of its inaccuracies being
made especially plain by comparison with the record of
exports for the ten years prior to 1862.
Still we cannot now in our revision attempt to
go back of
1870, where Mr. Valentine’s record begins. Previous to that
period the only data we have are estimates made by (1) the
San Francisco newspapers,
(2) Dr. Linderman and Prof.
Raymond’s estimates before referred to, which sub
Btantially follow the
San
Francisco
estimates,
“
was
deposits
Government
figures, and (4)
the
in
data
two
export
Mint, the
the
latter Government
furnishing,
the
already stated, no
previously-named estimates. Re vising
then, the figures for the United States in our table of the
world’s production back to 1870, and leaving the contribu¬
sources
tion of
as
other countries
given in our annual review for
previous years, the following results are reached as to t he
total production since 1857.
We give the statement in
pounds sterling, calculated at five dollars to the pound.
*
as
.
1
2
Product i’ll
in U.States
Produc¬
tion in
Australia.
Gold.
(Mint esti¬
mate.)
£
1857
1858
1859
] 8(50
1861
Total ’57-61. 62,192,000
1862
1863
18(54
3
4
5
Produc¬
Producti’n
tion in
Russia.
Countries.
Total
Production
in World.
£
in Other
£
12,096,000 11,000,000
r12,762,00{X 10,000,000
12,861,000 10,000,000
11,838,000 9,200,000
12,635,000 8,600,000
£
3,549,000
3,454,000
3,156,000
3,053,000
2,980,000
7.840,000: 2,990,000
8,000,000 2,988,000
11,724,000 9,200,000; 2,862,000
11,805,000 J 0,645 000 3,227,000
12,529,000 10,700,000! 3,397,000
12,933,000
13,003,000
Total ’62-66. 61,994,000
1867
9,605,000
29,145,000
28,716,000
23,517,000
26,591,000
26,715,000
2,500,000
2,500,000
26,263,060
26,491,000
2,500,000
26,286,000
28,177,000
2,500,000
2,500.000
29,126,COO
46,385,000jl 5,464,000 12,500,000
136,343,000
10,583,000 10,345,000
11,051,000 9,600,000
11,382,000 9,900,000
9.237,000 6,810,000
1868
1869
1870
1871
£
2,500,000
2,500,000
2,500,000
2,500,000
2,500,000
48,800,000 10,192,000 12,500,000 139,684.000
3,377,000
2.500,000
2,500.000
3,503 000
4,108,000
26,805,000
26,654,000
27,890,000
2.500,000
4,414,000
4,913,000
6,940,000
2,500,000
2,500,000
22,961,000
23,958,000
Total ’67-71. 51,858,000 43,595,000 20,315,000 12,500,000 128,268,000
1872
8,841,000
7,695,000' 4.771,000
1873
10,609,000
8.250,000
8,250,000
7,243,000
7.901,000 * 4,500,000
1876
7,753,000 4,035,000
8,054,000 *4,500,000
8,637,000; 4,500,000
2,500,000
2,500,000
2,500,000
2,500,000
2,500,000
23,807,000
25,510,000
22,538.000
23,304,000
22,880,000
Total ’72-76. 43,193,000 40,040,000 22.306.000 12,500,000 118,039,000
1877
1878
1879
1880
1881
7,027,965
6,113,122
5,968,519
5,913,819
.
6,069,396
9,036,000
7,575,000
6,354,000
6,572,000
6,191,000
“
from
confirmation of the
supply,
so
Take the United States
the
(3)
[VOL. XL.
Total ’77-81. 31,092.821 35,728,000
;.
1882
1883
1884
5,989,479
5,401,000
5.401,000
5.625,000
2,232,000
5,785,000
2,246,000| 21,719,122
5.899.000
23,920 965
2.596.000
90.817.519
5,899,000
4,874.268
2,711,000!
21,095,819
4,773,587
2,720,000
4.681.000
2.650.000
2,767.000) 19,901,664
23,032,268’12,552,000 107,455,089
5,862,000
5,660,000
5.200,000
19,345,066
18.392,000
17,932,000
4,631,000' 2,650,000
*
Estimated.
NoTis.-Tlie figures in Column 1 for t ie first ton years are net exports
taken from the Statistical Abstract f( r the Colonies added to the total
coinage of the Sydney Mint; for next five years they are ttie net exports
added to three-fourths of the coinage of the Sydney Mint; from 1872
(when the Melbourne Mint was opened) to 1876 wo ad < to the net ex¬
ports about 1*4 million pounds sterling for amount kept for circulation,
and consumption. This mode of reaching production is the same in
substance as adopted by the Silver Committee of the House of Commons
in 1876, and seems more reliable in result than the gross estimates
which have been made.
For subsequent years the figures are the
reported actual production.
The figures iu Column 2 are (down to and including I860) the Mint
estimate as sent to the Parliamentary Silver Committee in 1876. Since
that date they are Mr. Valentine’s figures, with (for States east of the
Missouri River) an addition of $600,000 in 1884, of $500,000 in 1883,
and $300,000 each previous year.
The figures in Column 3 and 4 (down to and including 1875) are from
information supplied to the Parliamentary Silver Commission. Since that
date they are the figures obtained by Mr. Burchard of the United States
Mint.
The above shows liow
rapidly our gold supply is contract¬
Jn 1884 the total does not reach 90 million dollars.
ing.
And
of
even
able
for
have
already
ard’s
the
census
that
consider
currencies
how
of
little
the
seen
that according
the United States takes
is
avail¬
world !
We
Burch-
to
Mr.
for
manufacture
annually at least 15 million dollars out of its supply. For
other countries there are very few statistics of consumption
obtainable; but is not that a branch of this inquiry which
deserves serious attention? The amount which is
America is
suggestive of
a very
so
used in
large total for the whole
world.
POSITION
OF
PHILADELPHIA
&
READING
GENERAL MORTGAGE BONDS.
The various schemes for the
reorganization of the Phila¬
delphia & Reading Railroad all depend more or less for
their success upon the indulgence and disposition of the
general mortgage bondholders. The intentions of these
bondholders, their lien upon the property—whether suffi-
January 24,
THE CHRONICLE.
18t5.]
Ill
the bonds issued—their willingness to make creditors—indeed they appreciate the risks they run so
concessions in the interest of junior bondholders and stock¬ well that they will take such paper only at a very heavy
cient to secure
holders;—all these engage much attention now. But the
main question of all, the general mortgage bondholders
must answer themselves, namely, whether they shall pro¬
ceed to foreclosure to protect their rights, or, waiving fore¬
closure, shall accept some plan of funding, favorable or
otherwise.
Can they do better by taking the property
themselves, or by leaving it undisturbed in the hands of
those that have managed it in the past, and have brought
it to its present pass—that is the point they have to consider.
The plan of reorganization that commands most atten¬
tion is, of course, that of the Whelen Committee, to which
The main features of this are that
referred last week.
we
general mortgage bondholders shall fund half of their
coupons for three years, that certain rentals shall be
reduced, and that junior bonds shall be exchanged into
income bonds.
When writing a week ago, we had not the
figures to enable us to determine the effects of this plan in
reducing the charges, but have now received a detailed
statement of the 'changes proposed, which makes it possi*ble to discuss that plan intelligently.
It appears that the
total reductions in interest and rentals (not counting the
Central of New Jersey) would reach $2,008,402 per year,
of which $233,156 would be permanent—that is, the latter
represents charges cut down, while the former amount repre¬
sents charges that are no longer obligatory, but dependent
simply upon earnings. On this basis, therefore, the posi¬
tion of the company would be something like this.
the
Total fixed charges in year 1884
Permanent reductions to be effected
Charges to be dependent upon earnings
$16,874,453
$233 ,156
2,375,216—
Leaving the cash call for interest and rentals
Actual net
earnings in 1884
Deficiency
But this is
2,608,402
$14,266,051
13,519,202
$746,849
.
the
assumption that the rental on the Cen¬
Jersey will be paid in full, dividend and all.
On that assumption, of course, the sole and fatal objection
to the scheme would be that it is entirely inadequate. But
on
tral of New
it is not intended to pay
the dividend in full. The most
is that half of it shall be
paid in cash, the rest in scrip, while the committee pro¬
poses that only so much shall be paid as the road actually
earns.
On the latter plan, as the road did not even meet
fixed charges in 1884, the whole amount of the six per
cent dividend—$1,113,792—would be saved the Reading?
and' instead of the deficiency of $746,849 above, there
would be a surplus of $366,943.
If Mr. Gowen’s idea
were carried out
and 3 per cent paid, a deficiency would
still remain, only it would be $179,953, instead
of
$746,849.
It should be said, however, that in the estimate of
charges no less than $915,872 is included as interest on
the floating debt, and this, the theory is, shall be paid reg.
ulary in cash. That is, we think, the strongest argument
that can be made against the scheme.
The holders of
about twenty millions of demand debt, created subsequent
to the mortgage bonds and having no direct lien upon the
property, are by it given preference to the holders of the
general bonds. Indeed, these latter are asked to yield
$765,580 of interest per year—that being the amount
saved by funding half the coupons—for three years, for
no other
purpose apparently than that the amount can
be applied to paying the interest on the company’s floating
that
even
Mr.
Gowen proposes
liabilities.
shave”
usually. This being so, what reason is there for
according exceptional protection to debts of this kind,
and subordinating or seeking to subordinate the claims or
liens of mortgage bondholders ? We know that the plea
is, almost always, that the floating debt is secured by
collateral which are* essential to the preservation of the
property, and which must therefore be saved at all hazard.
But the plea to be effective should be supported by proof
in the case of each individual piece of indebtedness of this
description, and the bondholders be allowed to determine
whether a given species of collateral should be protected
or not.
It is time that the rights and privileges accorded
by a mortgage lien were clearly recognized and respected,
and the seal of disapproval put upon any and all attempts to
disregard or impair them.
In the present case, even if the general mortgage bond¬
holders should grant the concessions asked, and the hold¬
ers of junior
bonds accept income bonds, the floating
debt would remain.
The scheme of placing a collateral
loan at 5 per cent seems for the time being at least vision¬
ary—that is on the securities which the company has to
offer.
And so long as this incubus of 23 millions floating
debt hangs over it, the position of the company would be
weak, uncertain and unsafe, its credit poor, its securities
subject to great fluctuations, and the bondholders as far
removed from reasonable stability for their investment as
now.
Then it will be observed that the leeway between
charges and earnings even with the Central New
Jersey rental omitted altogether, is slight—only $366,000.
To be sure, the earnings last year were very small, and
the policy of periodical restrictions proved very onerous, but
what if under the lower prices for coal which are likely to
rule this year, the result should be no better ? Experience
has demonstrated that improvements and additions are
essential to a road, from time to time, no matter how com¬
plete the road may be. Now the money necessary for this
purpose, how would the Reading secure it ?
Its fixed
charges would require all the earnings, and the 23 millions
of floating debt would press heavily upon it and interfere
with its borrowing the necessary funds.
In this con¬
tingency, too, what certainty would there be that even the
half interest on the general mortgage bonds would be
promptly and regularly met ?
But the bondholders of course always have the alterna¬
tive to foreclose the mortgage and take possession of the
property. What would be their position in that event ?
The statement from Philadelphia anticipated this question,
and presents the following as the status of affairs should
“
foreclosure be enforced.
1. Prior mortgages of Railroad company
2. Divisional mortgages of Coal company
3. Bonds and mortgages on real estate, both
Total
General mortgage
General scrip and
Less secured by
$24,686,000
1,770,000
bonds
interest
bonds subse¬
quent in lien to gen’l mtge..
Receivers’
$33,421,700
12,494,000
companies....
2,959,543
5,000,000—
obligations and interest
'$48,875,243
15,000,000
3,100,000— 44.556,000
$93,431.243
Total net earnings for 1884
$13,519,202
Less int. and dividends on securities owned.
500,000—
Less net earnings of leased lines, not included above
$13,019,202
4,500,000
$8,519,202
Total fixed charges <prior
rentals
Less Int. and dividends on
profits remaining
st44,556,000 given)
Net
to gen. mort.) and
securities owned.
$6,918,840
500,000—
(equal to 4-7 per cent on the
6,418,840
$2,100,362
evidently been made up on the least
patience with the at¬
favorable
basis
possible, and looks as if it had been pre¬
tempts so common now to treat ordinary demand debts
as
superior to mortgage liens.
In accepting a company’s pared with the idea of dissuading bondholders from
notes or other d emand obligations, holders know full well attempted foreclosure.
It figures up about 4f per cent
for
the
bonds
in
the
the character of their claims as respects other and secured
contingency supposed. But instead
We
confess
we
have
little
This statement has
112
of
THE CHRONICLE
being
against enforcing the remedy which
mortgage gives, it is really a strong argument in favor
of such a plan.
Note that in this exhibit the 23 millions
floating debt (all but five millions, which are given as
being secured by securities subsequent in lien to the gen¬
eral
mortgage) is placed on the same footing as the gen¬
eral mortgage itself.
Tliis is certainly better than giving
the floating debt creditors a
preference, as proposed in the
various funding plans that have been submitted.
But it
an argument
the
is not at all clear that the bondholders would be
to go even
obliged
far as this. They could simply allow the
floating debt creditors to take the collateral securing the
debt.
Of
as
course
that would not
apply to the 3 millions of
receivers’ certificates
included, nor to the amounts due for
wages, supplies, &c., but at least 10 millions would be
stricken off in that way, and this would
naturally improve
the
position of the general bonds.
Even treating the bonds and
floating debt alike
however, as is done, the showing is far from unsatisfac¬
tory or discouraging.
For the 4*7 per cent re¬
maining is arrived at after allowing for all leases
of every
[Vol. XL.
impossible to determine,
whether it is the commencement
prosperity, will no doubt be speedily set"
tied. For the moment,
unquestionably, a healthier tone pre¬
vails, but it would be entertaining too sanguine views a3 to
the immediate future to
expect that we are about to
of
an era
or
of renewed
emerge
suddenly from the long drawn-out period of gloominess and
depression. Were confidence suddenly restored—and it is
not—speculation might equally rapidly develop. As it is, the
progress towards recovery is more likely to be very
gradual,
and it will be
an
agreeable surprise if that does
not turn out
to be the case.
Corn, iron and steel have all hardened, the
former appreciably, and at time of
writing all are certainly
steady in value; but Mincing Lane remains as heretofore a
weak point.
The produce markets will certainly still require
a good deal of careful
nursing in order to avert fresh catastro¬
phes. Private arrangements are understood to be unpleas¬
antly frequent, but it is something to know that they are less
numerous and of less
importance than they were. Taken alto¬
gether, the prospect for an extension of business i3 brighter
than it was a few days ago.
The money market has become
quieter. There is a larger
supply of capital offering, and the demand having fallen off
rates have given way.
No movement has been made by the
Bank of England, but a reduction at an
early period seems
foreshadowed. Owing to the increasing
difficulty of finding
suitable employment for
balances, the discount houses have
reduced their rates of allowance on
deposits ^ Per cent, now
giving 3*^ per cent for money at call and 3% per cent if with
notice.
The joint stock banks are still
giving the latter figure
for deposits at notice.
That there is an abundance of money
lying idle at the present moment is clearly shown by the lib¬
eral subscriptions to the New Zealand 4
per cent loan for
£1,000,000. Rates for money here are quotably higher than in
the leading continental
centres, but it is a curious fact that we
receive scarcely any gold from thence. In fact the
bullion
movements recently with all
parts have been insignificant.
description (even such as the North Penn,
sylvania and the Delaware & Bound Brook) except only the
Central of New Jersey, the
Schuylkill & Lehigh and the
Shamokin Sunbury &
Lewisburg, and the two latter if
retained would diminish the result
only $107,315. So
we
may say that with the whole of the Reading
prop¬
erty preserved substantially intact and all the lease obli¬
gations except Central New Jersey recognized, and the
floating debt raised to the level of the mortgage bonds,
the latter could in an
extraordinarily bad year earn \\
This week’s Bank return contained no feature of
per cent for their holders.
The funding scheme offers the
importance.
The changes were merely those incidental to the time of
bondholders only 3 or 3£ per cent cash for three
year.
years, The usual demand for
temporary loans had the effect of swell
which, it is thus seen, they could improve upon in any ing the total of “other securities”
by about £3,397,000, but the
event under foreclosure.. The bondholders
would get the bulk of this appeared on the other side of the account as an
property, moreover, subject to only $48,875,243 prior increase of £1,873,000 in private deposits. The stock of bullion
is now £20,722,000 and the reserve of notes and coin
liens—a property that has cost more than three
£11,274,468*
times
that
sum—and
the
securities
released
by the floating
debt, some 23 millions par value in amount, (not counting,
of course, the junior bonds held as
security for the 5 mil
lions of debt that would be
extinguished) would also pass
into their possession.
Altogether we do not see why the
general mortgage bondholders should not demand much
more favorable terms than those
offered, and insist upon
them to the extent of
enforcing the penalty if refused.
The proportion of reserve to liabilities stands at 33*13
per cent’
or practically the same as last week.
The following are the present prices for
money.
Open market
c
ti
Lon ion
BATES OF EXCHANGE AT LONDON AND ON LONDON
AT LATEST DATES.
EXCHANGE AT LONDON-Jan. 9.
On—
Time.
Amsterdam. Short.
Amsterdam. 3 mos.
Hamburg..
«•
.
Berlin
it
Frankfort...
Vienna
it
Antwerp.
it
122
®
12 4% ®
•20-63
®
2069
8>
20*69
a)
12*51 J4 5>
12-5114®
...
Paris
Paris
St.
it
Rate.
Checks 2 5'3 5
3 mos. 25*53
it
Petersb’g
Genoa
it
Naples
a
Madrid
n
Cadiz
a
Lisbon
u
Alexandria
®......
'EXCHANGE ON LONDON
Latest
Date.
Titne.
8
Short.
12-12
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
8 3 11108.
8 Short,
it
"
8
it
8
it
8
20-50
12-34
25 33
8 Checks
25*32%
20-48
20-58
24%
25 70
®
W
Jan.
46% d)
Jan.
25’70
8 3
8 3
mos.
mos.
46%®
25*40
47*40
515d3>
Six
'Three
Four
Six
Months Months Months Months Months Months
Dec.
5
5
12
5
4%©
4 -m
19
5
4
“
@
24
5
44®
Jan.
2
5
“
9
5
4%©
334®
3M®3^
4)4® —
3J4® - 3%®
4 @ - 3%@
3-4® - 3 >a ®
37>.@ — 3%©
-
-
-
4m
-
4-m
-
-
4)4 ®
-
-
4)a®
—
-
4m -
-
4
®
-
The Bank rate of discount and
open
chief Continental cities now and for the
have been as follows:
January 8.
Rates of
Interest at
December 31.
4
©
-
3^® 3^® 3?S® 8%®t
Da^js.
3% m-3x
4
4'4-4'A
4
44-414
4
44-44
4
44-44
3H
m
s\
3x
3M
3K
3%
market rates at the
previous three w-eeks
December 24.
December 15.
Bank
Open
Bank
Open
Bank
Open
Bank
Open
Rate.
Market
Rate.
Market
Rate.
Market
Rate.
Market
Paris
3
2X
3
Berlin
4
3
4
2K
3%
3H
3%
3
4
3
Brussels
4
3%
4
Madrid.
4H
44
44
3%
4%
4%
3%
m
3%
2%
3U
44
Frankfort
4
3
4
Hamburg
4
3
4
Amsterdam
3
W
3.
Vienna
7 to 14
Banks. Calk
4
©4%
4%® 4m 4)4® 4%® 4)4® -
At
Stock
4
4
3
4
4
4
■
4
3
4
4%
2H.
Wi
3H
3H
2H
3H
4%
4
4
4
4
4
4
4
4
St. Petersburg..
«
8
6
6
6
6
6
0
Copenhagen.
5
5
5
5
5
5
5
5
..
.
Constant’ple
m
m
m
m
New York... GO days
dorn’nd
Bombay
....
Calcutta
Hong Kong.
Shanghai....
it
m
m
m
Is
Is.
7*>16d.
7oi(id.
m
....
I From
Jan.
Jan.
Jam
Jan.
Jan.
Jan.
P 3 mos.
8 60 dys.
8 tel. tsfs
8
8 4
8
a
mos.
it
40 00
480%
Is. 7%d.
Is. 73jgd.
3s.
7d.
4s. 11 %d.
our own correspondent.]
London, Saturday, Jan. 10, 1885.
The past day or two have
developed more activity in com
mercial circles than was considered
probable when the state of
affairs at the close of 1884 is taken into
account. - Whether the
improvement is merely
Four
Disc't. FTse
Joint
.
Three
Rate.
Jan.
®
.
Trade Bills.
K
“
i^cms
I or deposits by
Bank Bills.
rii
fS
“
Iptonetaviji ©awmevcial
Interest allowed
rates.
a spurt,
the duration of which it is
In reference to the state of the bullion
& Abell observe :
market, Messrs. Pixley
Gold.—There
lias been no Continental demand
during the week, the
only shipments having been £11,190 to the West Indies and Buenos
Ayres and £50,000 to E-jjypt. The arrivals comprise £1^,000 from the
Brazils and £33,940 from the East, making a total of £106.9 40. The
Bank has received, since our last, £113,000 and lost
£55,000 for the
West
Indies.
Silver.—A further rise in silver lias taken
place, and the prioe to-day
may be quoted at 50d. The Iudian exchanges have risen, and there are
other buyers to a limited extent. Wo have received about
£33,000
from the United States. The P. & O. steamer lias taken
£220,000 to
India.
Mexican Dollars.—A few small parcels have been received from
America. The prioe has-slightly improved, and is
to-day 48%d. per oz.
January 24,
The
quotations for bullion
Jan.
Price of Gold.
s.,
gold, fine., oz.
gold, contain’g.
77
20 dwts. silver.oz.
77
Bar
Bar
Span,
doubloons, oz.
are
reported
Dec. 31.
8.
d.
s.
9
77
Price
as
follows:
8.
Jan.
of Silver.
Bar silver, flne..oz.
d.
silver,containing 5 grs. gold..oz.
50
49%
50%
50%
54
53%
48%
Bar
77 10%
10%
Cake silver
.......
oz.
Mexican dols...oz.
The movements in the
48 13-16
1882.
18S3.
£
Imports In
Imports iu
Exports In
Exports in
Dec....
.
£
£
5,350
5,072,094
20,763
1.155
9,777
109,750
92,202
937,575
2,183,803
171,830
1,922,466
135,801
2,803,543
359,258
2,629,316
6,099,783
7,091,365 12,012,839
813,529
9,(501,495
711,239
9,9-0,383
SILVER.
.
1.108,113
9,244,(5(55
9,468,002
.
760,879
K34,026
Exports in year..
.
8,9(55,454
9,322,846
The
1884.
£
501,577
373,610
7,733.309 10,720,353
522,690
748,9(50
Imports in Dec..
Imports in year..
Exports in Dec..
.
18S3.
£
£
421.214
14,375,114
658,156
Dec....
year.. . 12,023,804
year..
1882.
873,101
1,800
29,420
48,650
50
8,S32
firm but not
was
£35,309,*131
In December
In year
425,603,932
were:
is thus
There
a
1882.
1883.
£18,171,551
£18,971,102
241,467,162
239,799.473
loss in the exports
£33.073,970
of £1,130,999 for the
The following are some
exports
1884.
£5,197,478
62,443,715
of the leading items of imports and
IMPORTS.
December.——s
Cotton1883.
From United 8tates.cwt. 1,463,219
All countries
cwt.1,952,520
1884.
1,693,776
2,216,734
Year.
,
1883.
....
32
40
3
1
being included
not
At
Wheat
Flour.
Indian
qrs.
:
present.
l,9d>,000
220,000
210.000
255,000
180,000
213,000
181,000
240,000
corn
1882.
2,068,000
Last year.
Last week.
1,856,000
1,878,000
164,500
United Kingdom are esti¬
The total stocks of wheat in the
quarters, against 2,955,000 quarters in Jan¬
Annexed are the stocks of grain in London on
mated at 1,548,000
1884.
uary,
January 1
:
122,216
6,235
525,482
Barley..
Malt
Oats
Rye
-
Beans...
Peas
The
cereal
1885.
1884.
1885.
Wheat...
993,424
105,513
4,316
Maize....
Tares
Linseed..
412,039
Rapeseed
380
40
29,871
14,365
20,685
6,919
qrs.
19,409
2,711
..
...
9 682
70,553
Seeds
15,886
Flour.... bbls.
1,223
Flour...sacks. 299,997
....
1884.
55,805
1,779
50,711
24,546
14,685
3,523
339,713
of
produce into the United Kingdom during the first eightfollowing return shows the extent of the imports
the sales and average prices of
home-grown produce for the same period, and other items, com¬
pared with last season:
teen weeks of the season,
IMPORTS.
1881-2.
1882-3.
1883-1.
1884-5.
22,459,850
5,370,340
8,577,710 7,450,389
Barley
7,137,502
520,044
Oats
5,749,789
5,554,790
4,234,816
815,054
829,657
628,309
Peas
766,514
577,714
Beans
690,660
1,373,106
1,032.188
9,293,717
Indian corn
6,272,674 10,356,727
4,012,960
2,688,557
Flour
5,361,745
5,534,712
5,492,628
Supplies of wheat and flour available for consumption in eighteen
weens, stocks Sept. 1 not being included:
1881.
1882.
1883.
1884.
22,559,364
5,534,712
25,131,686
5,492,628
22,459,850
2,688,557
1,198,653
1,200 360
15,430,000
14,541,300
23,672,693
29,294,436
Imports of wheat, cwt.17, L12.295
Imports of flour
5,361,745
Sales of home-grown
produce
Total
25,131,686
22,559,364
cwt. 17.112,295
Wheat
Av’ge price of English
46,054,314 39,639,707
41s.
40s. 3d.
wheat for season.qrs.
32s. Id.
Visible supply of wheat
in the U. S
bush.43,400,000
4d.
4d.
47b.
35,400,000
20,600,000
17,900,000
-2,094,000
2,412,000
2,911,000
Supply of wheat and
flour afloat to U. K.
*2,036,000
qrs
Not
Ineluding Baltic supplies.
The extent of the sales of home-grown
wheat, barley and
oats in the
first
Wheat
qrs.
1884-5.
1883-4.
1882-3.
1,198,653
1,200,360
885,175
1,154,918
8^,861
1,375,278
1,943,099
90,053
78,257
1881-2.
838,918
904,281
109,417
AVERAGE PRICES.
:
/
....
estimated to be afloat to the United
are
Oats..
1883.
65,637,597
65,193,552
39
39
39
39
1
0
5
2
0
0
40
following quantities of wheat, flour and Indian com
Kingdom, Baltic supplies
The
Barley
£5,432,000
1S92.
30 10
30 10
31
5
31 5
31 11
leading markets of England and Wales during the
eighteen weeks of the season, together with the average
prices realized, compared with previous seasons, are shown in
1884.
£17,840,100 the following statement:
SALES.
232,927,575
£6,871,898 for the year.
Exports of Colonial and foreign merchandise:
£1,946,0*00
1883-84.
8.
d.
42
....
Average
*
389,774,549
month and
In December...
In year
actually higher.
Week ending December 13
Week ending December 20
Week ending December 27
Week endlug January
3
principal falling off is in articles of food and drink.
The exports of British and Irish produce and manufactures
The
Tn December
In year
62,642,200 53,302,200
78,169,400 59,665,200
290,500
5,516,500
5,298,000
2,005,280 37,726,200 35,297,400
3,614,100
4,800,900
Sept. 1 fo Nov. 26
Weekending December 6
1884.
=
£33,871,131
412,001,683
10,340,567
15,703,578
From
England, and they represented a total of £4,129,700
at prices ranging from £100 to £97 10s. The tenders at £99 Gs.6d.
received about 65 per cent of the amount applied for, those
above that price being allotted in full. The average price
obtained for the stock is £99 10s. Id. This is 2 per cent above the
tender price, and shows how readily good non-speculative
investments are being subscribed for here now.
A small loan for £25,000 on account of the city of Auckland,
N. Z., bearing 5 per cent interest, was also offered, the sum
being the balance of £200,000.
The actual subscriptions
reached a total of £117,100 at prices ranging from the mini¬
Tenders at and above £109 received
mum of £107 to £110 Is.
allotments in full and those at £108 17s. 6d., 16 per cent.
The suspension has been announced of Messrs. F. & J.
Badart Freres, of Lower Ordnance Mills, Rotherhithe, seed
crushers and merchants—a firm established in 1856.
The
liabilities are estimated at £300,000 to £400,000, the greater part
of which are covered by produce or otherwise secured. The
suspension of a discount house in London is still talked about?
but no actual suspension is apprehended, and even if it did
take place the effect would be slight, the operations of the
firm having been considerably reduced of late.
There is some
idle talk of turning the affair into a company, which certainly
could not be supported with present knowledge.
The dividend announcements by the leading joint stock
banks have now been made, and as a rulet hey are not so satis¬
factory as could be desired. The London & Westminster pays
16 against 18; London Joint Stock, 13^ against 15; Union, 12^4
against 15; City, 10 against 10; Alliance, 7 against 7; Imperial^
7 against8per cent; Consolidated, 10 against 10;and Central, 11
against 10 per cent per annum.
In Board of Trade returns just issued for December and
the year are again disappointing. The contraction of busi¬
ness appeal's to have made further progress, even allowing for
the lower values ruling now than those of a year ago.
In the
imports the decline for the month is £797,161 and on the 12
months £35,829,383.
The aggregates are as under:
1883.
11,270,918
16,293,529
1881-95.
s.
d.
the Bank of
1882.
964,009
1,301,493
1884.
1S83
£332,8*00
£329,3*00
£479,400
7,577,118
5,986,495
6,107,422
A New Zealand loan for .£1,000,000, bearing 4 per cent
interest and issued at the minimum price of 97J4 per cent,
has been tendered for.
The applications were received by
7
980,748
1,342,962
AVERAGE PRICES OF IIOME-C 1ROWN WHEAT.
In December
In year. „„
'
14,259,195 14,321,320
11,806,637
8,284,810
64,080,444 47,113,998
grain trade lia3 become distinctly firmer.
exports of silver to British India were :
18S2
727,299
680,656
2,995,818
weather, the publication of statistics showing much
167
'
1884.
1883.
The colder
higher
stocks than was expected, and the advance reported from
New York, speedily altered the state of the wheat market.
From being quiet and depressed it suddenly acquired strength,
and an advance of 2s. to 3s. per quarter was established.
The
top price of town-made flour was advanced 4s., to 37s. per 280
pounds, and other sorts were Is. to 2s. per sack dearer. Maize
from United States.
1884.
Year.
,
EXPORTS TO UNITED STATES.
The
To and
Countries.
,
owt.1,101,816
cwt. 308,010
cwt.3,162,596
Totton piece goods..yds.4,998,300
Linen piece goods...yds.6,740,500
Woolen fabrics
yds. 467,600
Worsted fabrics
yds.1,124,200
precious metals have been as follows:
To and f rom all
December.
1883.
1884.
Wheat—
United States—
Atlantic ports
Pacific ports
All countries
FlourUnited States
All countries
Dec. 31.
d.
d.
9
8.Ara.doubloons.oz
GOLD.
113
THE CHRONICLE.
1885.]
,
1884.
10,986,533 10,755,184
15,367,874 15,505,857
1884-5.
1883-4.
Ot
Wheat
per qr.
Barley
32
31
19
Oats..
1
1
3
U/m
1882-3.
40 3
33 1
19 8
41 4
34 7
20 10
Converting the quarters of wheat into cwts.,
kingdom are estimated as follows:
1881-2.
#•
&•
47 4
34 0
20 10
the totals for
the whole
1884-5.
Wheit
.CWt. 17.193,177
1883-4.
1882-3.
1881-2.
17,221,140
15,430,000
14,541,300
EXFORTS AND
Reports—Per Cable.
English Market
33.2.28816574901——TThhee
Philadelphia & Reading
New York Central
49i51P
79-70
125*6
11578
424
75%
13%
122*3
52
8
89 7g
8.
State).100 lb.
Wheat, No. 1, wh.
“
Spring, No. 2, n.
Winter, South, n
“
Winter, West., n
49%
9 a «R •
991316
99%
99l5l6
9978
79-95
79-77*3 79-90
12478
125*8
125*8
11538
11578
115%
40*3
40%
40 5g
75 7b
74 7r
74%
13*3
135a
133a
123
122*8
122*8
51*3
51*8
507b
8
8*8
778
88%
88
88*4
497s
Mon.
“
“
d.
9
10
7
9
2
8
6
1
3
7
9
7
7
7
0
5
58
32
80
37
62
7
7
7
Cal., No. 1
“
Cal., No. 2
“
Com, mix., old... “
5 0*3
“
Com, mix., new..
Pork, West. mess..9 bbl 58 0
33 0
Bacon, long clear
Beef, pr. mess, new,9 to 80 O
Lard, prime West. 9 owt 37 0
62
Cheese. Am. choice
Tues.
t.
d.
8.
9
10
2
8
6
l
3
7
9
7
7
7
2
8
5
8
5
7
9
1
5
58
32
0*3
0
6
0
80
0
0
0
37
62
0
0
0
6
99*&ie
100*!*
7
7
7
99*5i6
991516
South America
All other countries...
275,796
381,521
10,000
56,500
$289,296
5441.521
3,000
20,000
21,255
$325,950
11,845
$693,660
24,045
Great Bi itain
France
51*4
8S78
Fri.
Thurs.
$.
2
8
5
8
5
German/........
West Indies..........
Mexico
South America
Ail other countries...
8*8
8
87%
10
d.
9
7
9
7
7
7
8.
10
6
0
0
0
3
0
114,198
6,257
2,608
18,840
2,603
$219,897
$486,564
337,750
13,168
13,773
19,207
38,006
52,210
$
$
.
d.
9
30,021
15,399
5,851
21,483
3,024
12,933
4,252
.
758.521
$31,356
23,992
1,003,785
40,253
$721,957
$337,795
150,000
472,250
Total 1885.......
Total 1884
Total 1883
$57,355
112,618
111,637
7
9
7
7
7
2
8
5
8
5
53
32
82
36
62
6
imports for the week in 1885, $13,643 were
gold coin and $1,175 American silver coin. Of the
exports during the same time, $10,000 were American gold
0
com.
2
8
5
35
4 11*3 5
58
58 O
32
32
6
82
80 0
36
36 9
62
62 O
111,457
96,500
3,075
4,500
Silver.
133s
123%
123
d.
9
Total 1885.
Total 1884
Total 1883
*
$
$3,500
......
Since Jan. 1.
75
743q
13*4
Commercial and IJIisceilauentts
National Banks.—The
been organized:
49%
80-07*3 80 05
124%
124%
115*3
1153a
41 5s
42*3
Wed.
10
d.
9
8.
10
4934
49%
West Indies
Mexico
Week.
$3,500
Germany
Fri.
Thurs.
Imports.
Since Jan. 1.
Week.
Great Britain
France
Wed.
99%
9y5s
99%
Sat.
Liverpool.
Tues.
Mon.
Sat.
Silver, per oz
d.
Consols for money
Consols for account
Fr’ch rentes (in Paris) fr
U. S. 4*38 of 1891
U. S. 4s of 1907
Canadian Paoiflo
Chic. Mil. & St. Paul....
Erie, common stock....
Illinois Central
Pflunnylvanla
Flour (ex.
Gold.
for the week ending Jan. 23 :
London.
YORK.
IMPORTS OF SPECIE AT NEW
Exports.
daily closing quotations for securities, &c., at London,
and for breadstuffs and provisions at Liverpool, are reported
The
by cable as follows
[Vol. XL.
CHRONICLE
THE
114
American
5
O
0
table shows 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 :
U. S. Sub-Treasury.—The following
3
O
Hems
following national banks have
the above
Of
Balances.
Date.
Payments.
Receipts.
lately
“
$
$
$
Jan. 17.
Coin.
66
45
85
67
1,214,266 83
798,785 51
*3.227,750
1,258,054
1,280,056
1.037,021
1,192,266
1,027,030
1,531,879
767,410
1,234,995
811,889
77 126,921,819
91 126,933,906
51 126,399,775
65 126,556,418
45 12%139,027
20 126,136,504
Currency.
$
69 17,607,647 94
81 17,821,584 31
91 18,108,892 55
10 18,221,866 38
58 18,618,523 33
87 18,604,942 33
19.
Capital, $200,20.
Cashier.
21.
National Exchange Bank of Albany, New York.- Capital,
22.
$500,000. Chaunoey P. Williams, President; Jonas H. Brooks,
23.
Cashier.
National Bank of LeRoy, New York. Capital, $100,000
6,588,472 54
Total...
8,815,936 05
William Lampson, President; Butler Ward, Cashier.
F,rst National Bank of Brooklyn, Iowa. Capital, $50,000.
.T. J Holmes, President; B. M. Talbott. Cashier.
Includes $2,000,000 gold certificates put into cash.
Old National Bank of Fort Wayne. Ind. Capital, $350,000.
Stephen B. Bond, President; Jared D. Bond, Cashier.
Western Union Telegraph.—The Tim es reports that the
First National Band of Baird, Texas. Capital, $50,000. F. Court of Appeals on Tuesday, in the cases of the People of the
W. James, President; A. G. Wills, Cashier.
Farmers’ Nat onal Bank of Knoxville, Ill. Capital, $60,000 State against the Gold & Stock Telegraph Company and
F. G. 8anburn, President; O. G. Smith, Cashier.
the Western Union Company practically asserts that tele¬
First National Bank of Cantreville, Tenn. Capital, $50,000. graph companies, like other corporations, are subject to the
H. Cl&gett, President; John T. Walker, Cashier.
franchise tax imposed by the law of 1881. The suits were beCity National Bank of Austin, Texas. Cap tal, $100,000.
A. P. Wooldridge. President; M. C. Miller, Cashier.
Winchester National Bank, Winchester, Ky. Capital, $260,- fun
179,000 and interest for unpaid taxes from the Western Union,
005. N. H. Witherspoon, President; J. Pike Powers, Cashier.
and $8,250 and interest from the Gold & Stock Telegraph Com¬
Citizens' National Bank of Ripley, Ohio. Capital, $100,030.
J. M. Gilliland, President; E. R. Bell, Cashier.
pany. Judgment was given for the State at the Albany Cir¬
cuit, was affirmed at the General Term, and was taken to the
Imports and Exports for the Week.—The imports of last Court of Appeals.
The judgment of the lower courts was oppo3ed by counsel
week, compared with those of the preceding week, show
for the companies on the ground that chapter 471 of the Laws
a decrease
both
dry
and
general
in
goods
merchandise. of 1853
expressly exempted telegraph companies from a fran¬
The total imports were $6,234,913, against $8,774,077 the pre¬ chise tax which chapter 482 of the Laws of 1881 imposes on
ceding week and $7,486,207 two weeks previous. The exports other corporations.
The Attorney-General argued that the law of 1853 in no
for the week ended Jan. 20 amounted to $7,669,474, against
manner affects or limits the application of the tax imposed by
$8,034,919 last week and $6,393,757 two weeks previous. The the law of 1881, and
that the former statute was repealed by
following are the imports at New York for the week ending the latter, and that a tax when overdue is a debt upon which
(for dry goods) Jan. 15 and for the week ending (for genera* interest is collectible. The Court in its decision sustains the
merchandise) Jan. 16; also totals since the beginning of the Attorney-General in his position that telegraph companies are
liable for a franchise tax, but does not allow the interest.
first week in January:
Old National Bank of Evansville, Indiana.
000. Samuel Bayard, President; Henry Reis,
“
“
“
*
'
by the Attorney-General in the lower court to recover
FOREIGN IMPORT8 AT
NEW YORK.
1883
1885.
1884
For Week.
1882.
Dry goods
Gen’l mer’dise..
$3,435,029
7,452,337
$1,737,279
4,573,321
$2,591,920
5,904,991
$2,267,455
3,967,453
$10,887,366
$6,310,600
$8,496,911
$6,234,913
Dry goods
Gen’l mer’dise..
$9,191,954
20,159,970
$7,130,595
16,136,093
$8,073,262
17,782,580
$6,870,059
15,625,138
Total 3 weeks..
$29,351,924
$23,266,688
$25,855,842
$22,495,197
Total
Since Jan. 1.
report of the dry goods trade will be found the im¬
ports of dry goods for one week later. The following is a statement of the exports (exclusive of
In
our
specie) from the port of New York to foreign ports for
week ending Jan. 20, 1884, and from January 1 to date:
EXPORTS FROM NEW
1882.
the
1885.
1884.
$7,277,299
12.091,770
$6,574,998
14,357,124
$5,955,765
12,388,202
$7,669,474
reported..
Total 3 weeks..
$19,369,069
$20,932,122
$18,843,967
$22,098,150
For the week...
Prev.
since January
1884 and 1883:
1,
14,428,676
of specie
York for the week ending Jan. 17, and
1885, and for the corresponding periods in
The following table
at the port of New
Almanac for
and commerce are also
within its covers.
Mining Company has declared its 103d
for December, payable at the company’s
—The Ontario Silver
dividend of $75,000
office, San
Francisco, or at the
Lounsbery & Co.
Auction Sales.—The
YORK FOR THB WEEK.
1883.
1885.—We are indebted to the
York Tribune for a copy of their
The work has been for many years a stan¬
almanac for 1885.
dard book of reference for political information. The vote at
last election in each State by counties is given in comparison
with the vote of previous years, and in particular cases, not¬
ably New York 'and New Jersey, the vote by townships is
presented. The book also contains the platforms of all the
parties as adopted at the National Conventions of 1884,
and the personnel of the National Government, from the Pres¬
ident down, as now existing.
Valuable statistics of our trade
—The Tribune
publishers of the New
shows the exports and imports
at
Shares.
92 Citizens’National Bank.119*4
131 Am. Excb. Nat. Bk..120%-120
Bank
94
15 Tmptrs. & Trdrs.’ Nat.Bk.25L
20 Mercantile Nat. Bank— 110
50 Central Park North & E.
River RR. Co
143
22*2 Amer. Bag
(Limited)
sold at the
auction this week by Messrs.
following, seldom or never
Stock Exchange, were sold
Adrian H. Muller & Son.
20 The German Nat.
of Newark, N. J
transfer agency of Messrs.
Loaning Co.
for $2,192
Shares.
100 N. Y. Grapo Sugar Co. of
95
New York
11 National Fire Ins. Co
90
4 N. Y. Bowery Fire Ins.Co.l44*a
40 do
do
do
do..143*3
Bonds.
$15,000 Galveston Houston &
Hend. RR. Co. of’S2 1st 5s. 60
$1,000 Portsmouth Water Co.
1st 7s, due 1913
H)0*4
January 24,
THE CHRONICLE
1885.]
speculation. The extent of this movement can not be deter¬
mined, and the scarcity of commercial bills, which is talked
about, appears to be exaggerated. Posted rates have been ad¬
vanced 1} cents on the pound.
To-day the rates on actual business were as follows, viz.:
Bankers’GO days’ sterling, 4 83} @4 83}; demand, 4 87}@4 87}.
Cables, 4 88. Commercial bills were 4 81}@4 81}. Conti¬
nental bills were: Francs, 5 22}@5
23} and o 20f@5 21};
reichmarks, 94}@94} and 95@95}; guilders, 40 and 40}.
The following were the rates of domestic
exchange on New
York at the under-mentioned cities
to-day : Savannah, buying
} discount, selling } discount @ par; Charleston, buying par,
selling }@} premium; Boston, G0@75 premium; New Orleans,
commercial, par@,25 discount; bank, 100 premium; St. Louis,
90 premium; Chicago, 25@50
discount.
The posted rates of
leading bankers are as follows :
JBauhers7
DIVIDENDS.
The following dividends have recently been announced:
Per
cent.
Namt of Company.
Whsn
BjoKs Closed.
Payable.
(Days inclusive.)
Railroads.
Illinois Central
North Carolina
Terre Haute A Indianapolis
Banks.
German American
Pacific (quar.)
Insurance.
4
6
March
2 Feb. 14 to March 11
M’lntSen
3
Feb.
1
3
Feb.
Feb.
5 Jan. 23
1 Jan. 21
to Jan.
2 Jan. 27
to Jan. 31
_
T
'
...
.
2%
Exchange Fire
3*3
Merchants’
Peter Cooper Fire
Standard Fire
Miscellaneous.
Consolidation Coal
Pacific Mail SS. Co. (quar.)
Pullman’s Palace Car Co. (quar.)
5
6
NEW YORK,
3*3
$1
ll4
2
Feb.
Jan.
to
Feb.
1
31
26
Jan.
26
On deni.
fan.
Feb.
Feb.
115
January 23.
29 Jan. 20 to Jan. 29
2 Jan. 25 to Feb. 2
16 Feb. 3 to Feb. 16
FRIDAY. JAN. 33, 18S5.-5 P. J»l.
Money Market and Financial Situation.—There have
been no serious failures since the two reported last week, and
Coins.—The following
it does not appear that those will be heavy in the ultimate
coins:
losses to creditors.
corn at
corn
crop
is beginning to
freely, and with
move more
50 to 60 cents in New York there
seems
to be every rea¬
why the next eight months should show a large movement
on the railroads.
Cotton crop receipts at the South since Sept.
1, 1884, are now about 150,000 bales ahead of last year—that is
the cotton “in sight” from the crop of 1884 is about that, and
therefore unless this gain is lost during the balance of the season,
there will beat least this much excess over the yield of 1883.
At the Stock Exchange there "would be a decided
tendency
towards improvement if the railroad managers would agree to
maintain rates.
This is the one great cloud which hangs over
the market, and it is almost self-evident that some of the
parties
controlling the great trunk lines still desire to have the cutting
in rates kept up and stocks at the same time
kept down.
son
Whether this state of affairs will end before
sure
is
granted
remains to be
at that time
on
seen
or as
a
decree of foreclo¬
the West Shore mortgage is something that
; but many believe that it certainly will end
much
sooner as
the ultimate
control of
4 91
4 81%
4 SI
5 23%
Paris (franos)
Amsterdam (guilders)
Frankfort or Bremen (reichmarks)
The
The
Sixty Days Demand.
Prime bankers’sterling bills on London
Prime commercial
Documentary oommeroial
8jverelgna
N apoleons
$4 84
3 85
X X Reichmarks. 4
X Guilders
3
Soan’h Doubloons. 15
M«. Doubloons.. 15
F ne silver bars
1
Fioe gold bars....
Dim )8 &
dimes.
..
—
are
®$4 87
3 90
74. ® 4 78
96 “9 4 OO
65 ®15 83
55 ®15 65
07% * 1 0858
par« % prern
99% » par
'O
40%
9430
quotations in gold
Silver **8 and %s.
4 87
••••••
5 2050
4038
95*4
for various
99%-» par.
Five franos
92 ® — 94
Mexican dollars..
84% d — 854*
Do uncommerc’l.
*3%* — 84^
Peruvian soles....
77%a — 80
English silver.... 4 78 7t 4 84
U. 8. trade dollars
86 d - 87**
U. 8. silver dollars
99%* par.
—
—
—
—
—
—
—
United States Bonds.—The Government
been tolerably active the past week, at
bond market ha^
nearly steady prices, and
to-day is about the same as last Friday.
closing prices at the N. Y. Board have been as follows:
the close
The
Interest
Periods.
4i*a,1891....
...
reg.
4i*0» 1891
ooup
4s, 1907.
r eg.
4s, 1907
ooup.
3s, option U. 8... .reg.
6a,ourtoy, '95..
6s,onr*oy, *96..
6s,our'oy, '97..
6s,onr’oy, *98..
Os.ourtoy. '99..
*
that
Jan.
17.
Jan.
19.
Jan.
20.
Jan.
21.
Jan.
22.
Jan.
23.
113
112V 112% *112% *112% *112%
;.-Mar. *112%' U2%|*112%*112%*112% 112%
.-Jan. 1*121 V 121*8! 121% 12178*121% *121%
.-Jan. *121% 121%*121% *12130 121%! 121%
Q.-Mar.
.-Feb.
A J.
A J.
A J.
A J.
A J.
LOl
*125
*127
*129
*131
*101
*125
*127
*129
*131
*125
*127
*129
*131
*125
*127
*129
*132
*127
,*129
*131
*132% *132% *»32% *133
1*133
This is the price bid at the morning board;
no
tale
i*125
*125
*127
*129
*131
*133
was made.
State and Railroad Bonds.—State bonds have been much
property is determined, and its future possessors become pretty
neglected, the only sales being $11,000 Arkansas 7s, RR. issues,
well known.
at 15 and $4,000 Tennessee compromise bonds at 50.
In railroad investments the bad effects of the defaults on
Railroad bonds have been moderately active and the general
mortgage bonds that are abundantly secured is still felt. There tone has been irregular, with most of the lower-priced bonds
are at least three bonds on which no default should have been
weak and declining.
Erie 2ds have had an active speculation
and
declined on Monday to 53, most of which has been recov¬
made—the Denver & Rio Grande firsts, the Houston & Texas
ered.
West Shore 5s have also been weak on large sales, and
Central firsts and the Philadelphia & Reading general mort¬
the different classes of Missouri Kansas & Texas bonds have
gages.
In each of these cases the mortgage bondholders have declined in consequence of the bringing of a suit to prevent the
an immense security back of their
bonds, and there seems to be payment of interest on bonds issued subsequent to 1876. Erie
2ds close at 55, against 55} last Friday; West Shore 5s, after
no reason, either in fairness or in
law, why they should make
selling
down to 33}, close at 35, the same as last Friday; M. K.
Let them maintain their rights courageously, and
concessions.
A T. consol. 7s close at 102}, against 104}; do general 5s at 50},
they will not only triumph in these cases but they will also help against 53}; do general 6s at 64, against 67; Cent. N. J. consol,
to stop a proceeding which, if carried on, will shake confidence
assented at 95}, against 97}; Houston & Texas Cent, lsts, main
line, at 90, against 88}; Chesapeake & Ohio, series B, at 71},
in the whole body of our railroad securities.
Rates for call loans during the week on stock and bond col- / against 73; do currency at 23}, against 26.
terals have ranged at 1 @2 per cent and to-day at 1@,1}
per
Railroad and Miscellaneous Stocks.—The past week has
cent.
Prime commercial paper is quoted at 4@5 per cent.
been a tame one on the Stock Exchange, and transactions have,
The Bank of England weekly statement on
Thursday showed as a rule, been on a limited scale. There lias been no anima¬
a
gain in specie of £512,742, and the percentage of reserve to tion in the
speculation, except for a few stocks, and the market
liabilities was 43}, against 40 13-16 last week; the discount rate
generally
has
been irregular, with a slight tendency toward
remains at 5 per cent.
The Bank of France gained 1,405,000 lower
prices.
francs in gold and 2,146,000 francs in silver.
Lackawanna, as usual of late, has been the most active, and
The New York Clearing House banks, in their statement of
this stock, with the other coal shares, has been weak, touch¬
Jan. 17, showed an increase in surplus reserve of $3,504,400,
The
the total surplus being $51,148,775, against $47,644,375 the ing the lowest point recorded during the recent decline.
coal business is still unsettled by the Pennsylvania’s determina¬
previous week.
tion to remain independent of any combination, and the uncer¬
.The following table shows the changes from the
previous tainty has been still further aggravated by the report that that
week and a comparison with the two
preceding years in the company would enter into competition with other coal compa¬
averages of the New York Clearing House banks.
nies for business in New York.
'
1885.
Differ'neesfr'm
Jan. 17.
Previous Week.
1881.
Jan. 19.
1883.
Jan. 20.
Loans and dis. $295,337,800 Deo.
Specie
Circulation...
Net deposits..
Legal tenders.
Legal reserve
Reserve held.
$815,800 $332,580,800 $317,459,800
98.485.600 Inc. 3,308,600
70.380,600
62,687,700
11.311.600 Inc.
49,000
17,470,200
14,425,900
Tnc.
353.726,100
4,478,800 345,580,700 308,309,300
Inc.
41,094,700
1,315,500
33,298,800
23,064,400
$88,431,525
139,580,300
Inc .$1,119,700
[nc. 4,624,100
$86,395,175
103,679,400
$77,077,325
$51,148,775 Inc .$3,501,400
$17,284,225
$8,674,775
85,752,100
Exchange.—Sterling has shown decided firmness in
feature
the
disagreement of the
pool January 16, and their failure to make a satisfac¬
tory arrangement about East-bound freights; also the action of
the Pennsylvania in making lower rates on immigrant business
to the West.
This did not affect the trunk line stocks, how¬
ever, very seriously, as they were already so low, and both these
and the grangers showed much resistance to the decline.
In the latter part of the week Missouri Kansas & Texas stock
and bonds had a break, due to the bringing of a suit, as men¬
was
tioned above.
rates and
good demand has sprung up, which is believed to come in
large part from those who have traded in bills for investment or
a
Another unfavorable
trunk line
a
To-day, Friday, oil a moderate volume of business, there was
strong undertone and a pretty general hardening in prices,
which
was
well maintained till the close.
NEW YORK
Jan. 17.
RAILROADS.
Albany* Susquehanna
Boston* N.Y. Air-Line, pref..
Burlington (Jed. Rapids * No..
Canadian Pacific
Canada Southern
Cellar Falls *
Do
Do
1st pref—
id pref....
Chicago & Alton
Chicago Burlington
Chicago Milwaukee
Do
& Quincy.
* St. Paul
Northwestern
Chicago &
Do
117*2 117:'.t!
72 V 73 V
pref.
pref.
Chicago Rock Island * Pacific
Chicago St. Louis* Pittsburg.
8S*a
Paul Minn. * Om.
pref.
Cleveland Ool.Cin. * I ndianap.
Cleveland * Pittsburg, guar...
Columbia * Greenville, prof ..
Delaware Lackawanna* West.
Denver * Rio Grande .
City
25
80
85
Do
Fast Tennessee
15
15
25
Chicago St.
Dubuque & Sioux
89 *a
125
125 V
107 >4 108
pref.
Do
3 4
32'b
32 V
30
*9
86
33
7
10
35
32 V
5V
10
prof.
Do
Evansville & Terre Haute
Green Bay Winona* St. Paul.
-
.
80
9
84 V
80*.t
9
*8*2
3V
59
*3
9
59
16
25 V
’31V
32
85 $i
*2V
3*4
5*4
31 V
*5*4
5V
*5 *4
6*2
*10
*
5V
1 2 *2
7
105 |
,89*4 90 *41
125 V 125 Vi
108
108 i
xwef
Francisco
pref.. ..
1st pref
86
85 V
32 V
32 V
136
55*4
*31
12
12
15
15
65*2
12*2
6534
12*2
*54*2
*2V
8
117
20
121
13
*12
*11
14
59 V
*65
23
19
65 V
60 V
67
28
*89
28
85 V
*4
*8 ~
5
87*2
12 V 13*4
29
28
12V 12 V
178
178
11V 11V
3
4V
*37
3
4V
40
12
60 V
67
24 V
6534
12*2
*121 V 122*2
12*2
12*4
*11V
23*2
19*2
65*2
60 V
12V
12 V
61V
*65
23 V
*18
65 *2
12*2
13
24*2
20
13 V
13
1534
20
1*4
1234
*12*2
15*2
2 *2
44 7e
19
27e
3
17
17
18V
18 V
16*4
38*2
1*4
16V
10
13*4
13
15V
2 *2
44 V
19
27g
38 34
81*2 81*2
38 V
22*4
16*4
38 V
1 *4
22*2
16*2
38 V
1V
33
*31
33
*10
*10*2 12
*24
*24*2 28
14V 15*2
14*2 1534
16*4
93V 94 *4
•93 V
93
93*4
9
9
*7*4
*7*8
7*2
116
*114
115
116*2 115
35*2 37
35
35
36
87 V
86
85 *2 86 V
86V
4V
5
5
*4*2
5
8*2
8*2
8
8*8
86
*84
85
85
13*8
13*e
13
13
13*8
25
25
14 V 14 V
13 V 14 V
115
11*4
-1*2
934
934
13V
13V
HI
16
22*4
16
16
16
38V
37 V
IV
1*2
1*4
38 V
IV
13
■12*2
15*8
12*2
16
21 *2
22 *4
15 *2
37 V
*17
16*4
38
IV
pref
Manitoba
Virginia Midland
Wabash St. Louis * Pacific—
Do
pref.
x93 *4
1234
48*4
13
83*4
1234
49
13
45
*18
'36
-80
MISCELLANEOUS.
American Tel. A Cable Co
Bankers’ * Merchants’ Tel
Colorado Coal * Iron
Delaware * Hudson Canal
Mutual Union Telegraph
New York * Texas Land Co.. .
Oregon Improvement Co
Oregon Railway * Nav. Co....
Pacific Mail
Pullman Palace Car Co
Do
Western Union
prof
Telegraph
EXPRESS.
Adams
American
United States
Wells, Fargo * Co
INACTIVE STOCKS.
Atchison Topeka & Santa Fo..
Chicago & Alton, pref
Danbury A Norwalk
Joliot A Chicago
Louisiana A Missouri River...
New York Elevated
Ohio & Mississippi pref
Rensselaer * Saratoga
South Caroliua Railroad
Texas & New Orleaus
Canton Co
Consolidation Coal
Homostako Mining Co
New Central Coal
Ontario Silver Mining
82
82 V
12*4
47 34
12 V
48V
1234
4834
15
5
15
5
*5
13*2
13
116
Warren
52 V
52 V
52 V
*8 V
70 V
9V
71
9
68
24
52 V
9
69 7»
24
69*2 7034
54 *2 55 *p
55*2
*109
110
1 10*2 110*2
*130
*90
51
*107
57 V
140
94
51
110
13*4
13V
12*2 12*2
15 V 15 V
124
124
*2V
20
39
83
3
IV
8234
1234
49*4
*3
8
*25*2
56*2
31
57*4
*130
140
91 34 9134
*50
53
*105
110
*3*2
9*4
67 V
*83
85
81V
83
83
12 V
12V
49 V
81V
11 V
48*2
81V
12*4
48V
5*2
*4 *2
13*2
*12*2
5
13 V
7
25
55
110
57*4
132.
90
51
106
9*4
69*8
25
55 *4
110
58 V
132
91
52
106
*9
66 V
68 *8
21V
25
71*2
71 *2
55 V
55 V
110
110
*3
6 *2
*25 *2 31
57
57 *2
*130
*90
*50
*105
140
92
53
110
105
100
11
25
Jan.
Jau.
52*2 52*2
*3 V
7
*9
9 *2
66 *2' 67 *2
12*4
48V
12*2
49*2
*4 *2
5
13 >4
12*4
52*2
*
3 *2
9*2
67 V
26 V
69^2
69 V
55*2
55V
110
110
57
*130
-90
*50
*105
57'
140
93
52
110
14*2 Jan.
90 V Jan.
7 V Jan.
1,354 114 V Jan.
33
Jan.
2.650
84*2 Jan.
148,287
400
4*4 Jan.
7*2 Jan.
1,900
50
84V Jan.
12 V Jan.
12,870
110
40
80
640
52 *2
7
9V
69 V
26 *2
55*2 56*4
111V HIV
57*2
*133
91
50
106
68 V
140
91
53
106
Jan.
25
Jan.
12
175
Jan.
11
Jan.
1 V Jan.
200
130
200
160
400
200
300
210
160
225
28
400
139
'91
*91
*91
*91
prices b id and asked • no
sale was made at the
Board.
*91
*91
17*4 Jan.
20,309
472
Jan.
21
61* V Jan.
Jan.
54
107 V Jan.
78,760
53*2 Jan.
1,085
1,380
12,150
5
119
143
130
87 V
48
104 V
83
11V
20
8
175
7
IV
18*4
12 V
42
27
57 V
4V
•25 V
11V
24
34 V
8V
2
6*4
5
7
16 V
119 V
o
7
17
10
14
17 V
60 V
135
2*8
32
12
1?8
o
61
32
16V
24
Jan.
14
18
70
11 V
24 V
70
15
65
76 V
5V
28
15
Jan.
4
19V
9
121
122 V
Jan.
Jan.
Jan.
Jan.
Jan.
26 V Jan.
73
Jan.
56*4 Jau.
Ill V Jan.
58V Jan. 20
49
1
7
67
10
122 V
8V
60 V
31
90
3V
20
49
132
93
52 V
110
Jan.
125
Jan.
87
45
98
16
78
Jan.
8
50
Jail.
94 V
28 V
71
17 V
184
16 V
6
1
14 V
5
9V Jan.
Jan.
Jan.
7*4
Jan.
74
Jan.
Jan.
1GV
20V
4
54 V Jan.
4
Jau.
66 *2 Jan.
13 V
127
58
83 V 122
19
15
Jan.
Jan.
Jan.
0*4
115
30
37*4
79 V Jan.'' 2
11V Jan. 22
Jan.
18V
36 V
23 V
100
63 V
17
9V
2
14
20*4 Jan.
39V Jan.
87 V Jan.
3
8
10
31
7V
3i
18 V Jan. 17
38V Jan. 19
81V Jan. 19
52
94 V
16
44
51V
7
6
20*2 Jan.
100
700
105
4V
10
17
14
2
2
21*4 Jau. 12
393
24
40
10
23
85
3*4 Jan.
17
Jau.
87
13 V
44,370 45 V Jan. 2 50 V
15
Jan. 10 15
100
5V
4 V Jan. 14
100
360
12V Jan. 23 14
Jan. 19 116
12 116
1,250
6,625
90
139
Jan.
40 V Jan.
1 V Jan.
19
Jau.
Jan.
10
16
Jan.
14 V Jan.
14
Jan.
19
Jau.
125 V Jan.
2 V Jan.
48
Jau.
Jan.
21
V Jam
60
130
23
Jan.
59 V 104 V
78 V
62
22 V 51V
35
10
64 V 79
8
Jan.
17
14
6
8
23
17
6
1V Jan. 12
15*4 Jan.
12 V Jan.
12*2 Jan.
15*8 Jan.
123*2 Jan.
2 >2 Jan.
44V Jan.
19
2
17
4
Jail.
9
88
Jan.
14 V Jan.
Jan.
30
14 V Jan.
178
Jan.
12 V Jan.
Jan.
Jan.
75 V Jan.
122
5V
1V Jan.
16
9
8'
6
12 V Jan.
2
28
Jan.
17 V Jan. 12
94*4 Jan. 23
8
Jan. 20
7
121
Jan.
37
Jan. 23
89*8 Jau. 6
21 V Jan.
15
Jan.
37 V Jan.
1.700
4,010
38,045
2,575
3!
6!
Jan.
Jan.
6|
2
Jan.
Jan. 14
14
30
90
61
Jan.
15,095
5,139
3,000
82
85
3*2
9V
Jan.
16*4
125 *2 125 *2
38
82
Jan.
90
54
300
3
Jan.
500
4.700
*2V
Jau.
Jan.
1IV Jan.
27 V Jan.
2,020
63*2 Jan.
67*2 Jan.
26V Jau.
19 V Jan.
66 V Jan.
Jan.
500
420
12V
20
19 V
38*4
81V
3*2
5,232
13 V
12V
*15*2
*36*2
’37
13
21,063
13
*18
*18*2
39
*4*2
*12*2
59 V
62
22
11 V
65
71,120
16
20
82
20
48V
71
15V
’17
-18
*35
*81
Pennsylvania Coal
These arc the
38 V
116
55
56*2
21 *2
16 V
45
*2V
1
2*4
5
2L
81
*12*2
11*4
17V
13*2
13*2
15*2
3j
'88*2
11*8
3
3'
35*4 Jan.
6 V Jan. U
*
620
66*4
12*2
’54
*11
40 V Jan.
67
*31
*
.1 an. 22
J an. 10
11
2
Jan.
10
6*8i 17
Jan. 15!
8
5 V .Jan. 20
2 131 V Jan. 22 i 118
1140*4
Jan.
128
1127V
14! 107
7,262 115 V Jan. 2 119 V Jan.
58*4 94*4
2 76 V Jan. 121
70 V Jan.
246,460
95
Jan. 14!
V 119
o 107
J an.
815 103
81*2 124
2
91V Jau. Ill
161,703 i 84 V Jan.
117
1149*2
Jan.
15!
126
V
2,566 119V J!»n. 2>
Jail. 14i 100 v1126 V
109
3,986 105 Jan.
6 | 13 V
2
8 V Jan. 161
7 '4 .Tail.
300
15V J an. 23! 16*2! 35
Jan. 17
450
15
21V! 38 V
Jan. 15j
24 V .Jan, 19 27
1,250
80V! 100
1,415 82 ft Jan. 2 87 V Jan. 14
ol
28
I 69V
Jan.
33
Jan. 16
31
115
125 VI41
Jan.
Jan. 13 137
300 136
33
Jan. L">!
9
15
| 33
14 V Jan.
3: 86 V! 133 V
477,980 82 V Jan. 22 91*4 Jan. 15
6 V 25V
Jan.
it
JO
8 V Jan.
1,255
82
52
J an. 10
6
59
Jan.
OJJ
100
3
8*4
3
J
V an. 12!
2 V Jan. 15
600 !
4 V 14 V
5 V Jan. 12
4 V Jan- 23
500
51
30
Jan. 12
320
37 V Jan. 10 40
8V
3V
3 V Jan.
6
Jan.
300
3
2;
200
J an. 21' 185
210 190V Jan. 20 191
51
Jan. 14!
30
Jan. 22
400 1 20
140
2,210 ;ii9v Jan. 17 122 Jan. 12
86
70
86 *2 J an.
Jan.
84
9
20*4
12V Jan. It'
680
11*2 Jan.
6 V 19V
13*2 Jaii. 14'
9 V Jan.
300
11
35*2
85 V
*4 *a
86 V
8V
55
115
*34*
'85 V
V,
*4 *2
1534
125
125
2*2
2*2
20
8
11
11
20
15*2
92*2
7*2
93 V
41
120
6534
12*2
16*4
16
93
5*4
120*2
*31
11
*31
V
8
3*6
*89
55
59
3
*4 V
*38
35
*65*2
23 V
12
-2V
8*3
8V
191
191
*20
120
12*8
84
Duluth
St. Paul Minneap. *
Texas * Pacific
Union Paid tie
Quicksilver Mining Co
Vi
25 VI
136
82 V
8V
*
40
3*8
*24*2
12*2
28*2
16
10
*12*2
3V
5V
9
5
40
23*2
'
13*8
*2V
23*4
*88
55
12
178
12
*8*5 *4
40
120*4 120**2
65 34
17*4
Richmond A Danville
Richm’d A West P’nt Terminal
Rochester A Pittsburg
Romo Watertown * Ogdensb’g
St. Louis Alton & Terre Haute
Do
i
8
15
32
31V .1 an. 22
5 V Jan.
7
415
1 65
72V 73*2
8
15 V
25 V
3
•44 V Jan.
Jan. 14
32
300
10
126
135
80*2 90
50
80
39
58*4
24 V 57 V
8
12
37*2 90
30
67 V
5
15
9*2' 28
Jan. 17
Jan. 12 129
5
Jau.
90*4 Jan. 7
Jan. 17
2
Jan.
12,129
High
Low.
37
30
22,670
HH
a.
137
800
118*2!
118
85 li>
85
....
8,948
......
*24 V 24* V
83 V
*
8V
60 V
22 V
‘*16*2
prof
9
60 V
59V
15
37 V
Evansville..
Philadelphia* Reading
Pittsburg Ft. Wayno * Chic...
Rich. & Alleg., stock trust ctts.
31V
8(5
*12
12
60*8
11*2
22 34
1634
39=8
1 *4
Peoria Decatur *
St. Paul *
15
25 V
<86
12
12
60 V
11*2
22
15
38*2
1 *4
Orogon Short Lino —
Oregon * Trans-Continental...
Do
33
31V
137
81*2
*8 *2
15 V 16
16
16*4
93 V
93
93*2 93 V
9
*7
9
*7
116
11734
120
118
35
33
34
34
84*2 85 34
85 34 86 34
5
*4 *2
5
*4*8
834
9
834
8*4
87*2
*85*2 87*2 *86
12
13*8
78
13*4 13ne
Ohio Central
Ohio & Mississippi
Ohio Southern
Do
31*2
25
25
pref....
...
85 ‘.t
3*8
3*8
190*8 190*8
25
65*4
12*2
28*2
'■33
...
pref..
61
*54
pref.
New York Lack. * Western...
New York Lake Erie* West’n
pref.
Do
12
New York * New England —
178
New York New Haven * Hart
*11
New York Ontario * Western.
New York Susq. * Wostoru ...
pref.
Do
Do
61 V
67
23 V
13
65 V
*88*2
Do
St. Louis & San
85*4
31 >2
12V
*11
60
*64
22 V
13
65 V
Missouri Kansas & Texas
Missouri Pacilic
Mobile & Ohio
Morris * Essex
Nashv.Chattanooga & St. Louis
New York Central & Hudson..
New York Chic. A St. Louis...
Do
25*2
40
3V
119*2 119*2
ct.
prof.
Do
24 *2
5
40
40
*2 V
119*2 119V
Memphis A Charleston
Metropolitan Elevated
Michigan Central
Milwaukee L. Shore & West’rn
Northern Pacific
33
8
3*4
24
Manhattan
Manhattan Beach Co
Norfolk * Western
32
*29 V
30
117V 118Vl 117*4 118
72*8 72 V
72V 73V 72*2 7334
HU3.! 104 v
104 V 104 V 104. 101
88 V 89 V
88 V 89 V
887s 90
124 V
*124
125
125 *2 125
125
107*2
107 *2
107 V 107 V 107 V 107 *2
85 *4
87 >8
3V
*5
*38
Chic.
Elevated, consol..
Do
41 30*o
13
33 V
32 V
40 V
*
Long Island
Louisville* Nashville
Louisville New Albany*
Minneapolis & St. Louis.
0
6
41
39 V
30
*10
11
*5 V
6V
130 V 131V
117 V118 V
I
131
90 'e
For Full
Year 1884.
1885.
,
Highest
Lowest.
128
90
90 >8
A
1*2 *2
(Shares).
Jan. 23.
*
Indiana Bloomingt’n & West’ll
Lake Erie A Western ...
"1.
Lake Shoro
Do
30
12
34
32 3i
*5*4
5*21
5*2
106V 107
7 *4
7 *4
*14 V 16
21 >8 24 V
Harlem
Houston * Texas Central
Illinois Central
Do
leased line 4 p.
3934
40
12*«
131
104
101
87 V 89
124
125
95
39 *2
30
*9
33 V
81 V
0
5 *4
*10
73
71V
90*4
34 V
33
33 *4
32 3i
*
90*4
30 V
*30
6
5V
12
*10
0
0
131
131
117
117 V
*
Va. * Ga
90*8
90's
40
30
12
85
39
41 *4
30
37
Central of New Jersey
Central Pacific
Chesapeake & Ohio
129
129
Minnesota
Jan. 20.
Jau. 19.
Friday,
’.Wednesday,! Thursday,
i
Jan. 21.
I Jan. 22.
Tuesday,
Monday
Saturday,
Range Since Jan. 1
Sales of
the Week
LOWEST PRICES.
HIGHEST AND
STOCKS.
JAN. 1, 1885.
ENDING JL1N. 23, AND SINCE
PRICES FOR WEEK
STOCK EXCHANGE
[Vol. XL.
CHRONICLE.
THE
116
Jan.
Jan.
Jan.
8
8
122
Jan. 22 130
Jan. 22
139
Jau. 20 140
Jan.
3
50
96
29 V
50
96 V
32 V
90
99
22 V
84V
21
32
61V
127 V.
17V
114
17V
170
65 V
112
57 V
117
6V
34
78V
137
102
61V
115
80 34152
50
145
137
19 V 24
130
115
90
45
146V
138
11
9
90 V 93
39*o 40
18 " 23
11
8
10
5
29
14
264
264
62
142
50
THE
January 24, 1885.]
CHRONICLE
117
QUOTATIONS OP STATE AND RAILBOAD BONDS. JANUARY 23. 1885.
STATE
SECURITIES.
Bid.
A abama—Class A, 1906.
Class B, 5s, 1906
Class C, 48,1906
A
Ask.
Rock & Ft. S. iss.
85
100
84 V
105
t
3
12 V
7s, Memp.A L.Rock RR
12V
08.10-208,1900
'k'ansas—6s, funded
7s I
7s, L. R.P.B. AN.O.RR
7s Miss. 0.&R.R.RR.
7s, Arkansas Cent. RR.
0 ;orgia— 6s, 1886
7s. 1886..
7s, gold, 1890
SECURITIES.
73
63
101
107
110
113
115
106
113
115
137
80
10
Ex-matured coupon
Missouri—6s, 1886..
6s. due 1889 or 1890
11’
12 V
13 |
4
I
101
102 la'
112 i
Asyl’m or Univ.. due’92
Funding, 1894-95
Hannibal & St. Jo., ’86.
New York—6s, reg., 1887
6s, loan, 1891
6s, loan, 1892
17
10
Ask.
SECURITIES.
*67'’
N. Carolina—Continued—
New bonds, J.AJ7, ’92-8
Bid.
87
6s, loan, 1898
...
N. Carolina—6s, old, J. AJ.
Funding act, 1900
BONDS.
13
Ask.
Del. L. A W.—Contin’d—
Morris A Essex—1st, 7s
Railroad Bonds.
(Stock Exchange Prices.)
Ala. Central—1st, 6s, 1918
Ronds, 7s, 1900
7sof 1871,1901
Alleg’y C6nt.—1st. 6s,19221
Atch. t. A S. Fe—4 Vs, 1920
Sinking fund, 6s, 1911.. |
Atl. & Pac.—1st, 6s, 1910.'
Balt. A O.—1st, 6s, Prk.Br. ai3
Bur. C. Rap.ANo.—1st, 5s 103
90
Consol., 1st, 5s, 1934...
Minn.&St.L.—lst,7s,gu. 120
Ia. City. A West.— 1 st, 7s| 110
C.Rap. I. F. AN.—1st, 6s
1st. 5s, 1921
| 35
Buff. N.Y. & P.—Cons., 6s,
General, 6s, 1924
1 96'
Can. So.—1st, int. guar. 5s'
2d, 5s, 1913
!
Reg., 5s, 1913
!
92*a
Central Iowar—1st, 7s, ’99
91
Coupon off
;
East. Div.—1st, 6s, 1912
Ill. Div.—1st, 6s, 1912..
Char. Col. A Aug.—1st, 7s
Chesapeake A Ohio —
Pur. money fund,1898.. *110
6b, gold, series A, 1908. 101
71*8
6s, gold, series B, 1908
23 1
6s, currency, 1918
Mortgage 6 b, 1911
Ches.O.AS.W.-M. 5-Gs... *70 1
Chicago A Alton—1st, 7s. 116*3
Sinking fund, 6s, 1903.. 117V
La. A Mo. Riv.—1st, 7s. *119
2d, 7s, 1900
1st, consol.,
AUj yOUU/|
2d,
guar.
1 CL LOt/O*
.
• ■ >
1 120*3 122
7s..
117*2
N.Y. Lack.A W.—1st, 6s
77
—
45
Susq.—1st, 7s
...
2d, 7s. 1885
1st,cons., guar.7s,1906
96*3
1st, cons., gu.. 6s, 1906
70
Rens. A Sar —1st, cp.,7s
1st,
7s, 1921
95” Denv.A reg.,
Rio Gr.—1st, 1900
93*2
1st, consol., 7s, 1910
Den.So.Pk.A Pac.—1st, 7s
Den.A RioG.West.—1st,Os
Det.Mack. AMarq.—1 st, 6s
Laud
grant, 8*33. S.A...
E.T.Va.AG.—lst.7 s,19001
1st, cons., 5s, 1930
72
Divisional 5s, 19301....
23*3 Eliz.C.AN.—S.f.,deb.,C.,6s
1st, 6s, 1920
7i
Eliz.Lex.A Big Sandy—Gs
Erie—1st, extended, 7s...
2d, extended, 5s, 1919
3d, extended, 4*23, 1923
4tb, extended, 5s, 1920.
5th,
7s, 1888
i
1st, cons., gold, 7s, 1920
1st, cons., id coup., 7s..
Reorg, 1st lien, 6s, 1908
!
Long Dockb’nas, 7s, ’93
180*3'
Buff. N.Y. A E.—1st,1916
| N. Y.L.E. AW.-New2d 6
97 V
Collat’l trust,6s,1922.
Buff. A S.W.—M.,6s,1908
9*4
Ev. A T. H.—1st, cons.. Os!
1
Mt.Vern’n—1st, 6s, 1923
89
Fargo A So.—1st, 6s, 1924
Fl’tA P.Marq.-M.6s,l 920
(188), 7s, ’98:
Miss. R.Br’ge—1st, s.f.6s' *103
C.B.A Q.—Consol.78,1903; 12934
58, sinking fund, 1901.. *10434
5b, debentures, 1913—! 97
Ia. Div.—S. fd., 5s, 1919,
Sinking fund, 4s, 1919!
Denver Div.—4s, 1922.. I *92*2
*
Plain 4s, 1921
j
C R.I.A P.—6s, cp., 1917.' 1.27
6s, reg., 1917
1
Keok. A Des M.—1st, 5s1 105
113*3
l8tcon3.a88ented.1899 t, 93
Conv., assented, 7s, 1902!
Adjustment, 7s, 1903...j 102*3
Conv. debent. 6s, 1908..!
Leh.AW.B.—Con.g’d.as.
80
Am.D’kAImp.—5s, 1921
Chic. Mil. A St. Paul—
j
130
1st, 8s, P. D
123
2d. 7 3-10, P.D., 1898..
110*2 119
113*2
127
*53
05
95*3!
j
j
V Gr’nBayW.ASt.P.—1st, 6a
G uif Col. A S. Fo—7s, 1909!
2d, 6s. 1923
Registered
!
Hud.Riv.—7s,2d, s.f.,’85;
103
101
|
N.Y.W.Sh.A
Registered, 5s, 1931..;
k:::::
Debenture, 6s, 1897.
|*45"
'
70
! 106
75
10S
N.Y.N.H.A1I.—1st, rg.,4
Nevada Central—1st, 6s. j
'105
100
I 86*2 N.Pac.—G.l.gr., 1st,
100*4
cp.,6
1
Ilann. A St. Jos.—8s,conv.1 103*3 103 a4
Registered, 6s, 1921... i
60
116
N.O. Pac.—lst,6s,g.,1920t
Consol. 6s, 1911 ...1
!
i
93*3'
Norf.AW.—Gen’l. 6s, 1931
iHouston A Texas Cent—:
90 *4
94
95
! *94
1st, M. L., 7s, 18911
125 V
83
80*3
I 117
1st, Western Div.. 7st.J
126
120
Consolidated 7s, 1898... i 117
1st, Waco A No., 7st —: 84*2
117
80
117*3' 2d, consol., main line,8s.i 75
2d consolidated 7s, 1911 ; 114
H734
118*3
1st, I. A M., 7s, 1897
2d, Waco A No., 8s, 1915
1st, Springfield Dir., 7s
00
1st, I. AD„ 7s, 1809.... 117*3
Ohio Central—1st, 6s, 1920
!
General, 6s, 1921
J
1
123
102
::::::
Houst. E.AW.Tex.—lst,7s *
1st, C. A M., 7s, 1903...
1st, Term’l Tr., 6s, 1920
i
118
119
Consol. 7s. 1905
j 2d, 6s, 1913
Min’l Div., 6s. 1921
!
1st,
oc
1 »t, 7s, I. A D.Ext.,1908 119
119*4! Ill. Cen.—Spd.Div. -Cp.6s,
Ohio So.—1st, 6s, 1921
j 84*2
111
1st, S.W. Div., Os, 1909. 109
Middle Div.—Reg., 5s. ..1 -----Oreg’nA Cal.—1st,6s, 1921
68
Or. ATransc’l—6s, ’82-1922
1st, 5s, LaC. A Dav.,1919;
C.St.L.A N.O.—Ten.1.,7 8 119**2,---1
74*3 76
1st,S. Minn.Div.,6s, 1910! 108*2 i'09'v
Oregon Imp. Co.—1st, 6s.
lst,
consol.,
7b,
1897
..!
1*^1
(1^6
11830'
1st, H. & D., 7s, 1910...! 118
2d, 6s. 1907
!
Oi’eg’nRR.A Nav.-Ist6s lO?^
99
Chic. A Pac. Div.,6s,1910; 112
113*2!
Debentures, Is, 1884...
Gold, 5s, 1951
' 104*3T0o
(
l8t,Chic.A P.W.,6s,1921; 9330 92*3
Dub. A S. C.-2d Div., 7b *------1115
Panama—S.f., sub.6s,1910 i
1
Min’l Pt. Div., 5s, 1910.
|
Cod. F. A Minn.—1st, 7s' 1123i 116
Peoria Dec. A Ev.—1st. 6s k
*9*5
C.A L.Sup.Div.,5s, 1921
E vaus. Di v.—1 st,6s, 1920
1
«Ind. Bl. AW.—1 st pref.,7s' 110V
Wis.A Min. Div..5s, 1921; *93*4 *9*3 34
74*2 Peoria A Pek.U’n—1st, 6s i
1st, 4-5-Gs, 1909
j 73
1
90
Terminal 5s, 1914....!
Pacific Railroads—
91V
2d, 4-5-Os, 1909
78
79
110*0
uov
Chic. A Northwest.—
Eastern Div., 6s, 1921..'
Central
Pac.—G., 6s
7*
102
105 V100 I
Sink, fund, 7s, 1885
San Joaquin Br.—
1 10434
135
97
100
135 V
Cal. A Oregon—1st, 6s
2d, 5s, 1911
104
97
105*
!
105
Extension bonds, 7s, ’83! 104 V
Hi
Cal. A Or.—Si r. H "
;int.AGt.No.—1st, 6s, gold
104
101
63
i
65
a4
102*4
Land grant bonds.
let, 7s, 1885
Coupon, 6s, 1909...
108 j
West. Pac.—Bonds, 6s 106
Coupon, gold, 7s, 1902..! 126*3
Kent’ky Cent.—M.6s, 1911
126
‘103
|
No.
1C
Regist’a, gold, 7s, 1902.
way (Cal.)—1st, 6s
Stamped, 4 p. e„ 1911 ..
96
96 *3
So. Pac. of Cal.
Sinking fund, 6s, 1929.. 111
LShore.-M.S. AN. I.,s.f.7s 102*3 102 V
1st,6s
111
Sink, fund, 6s, 1929, reg! 109
So. Pac.of Ariz’a—1st. 6s
Clove. A Tol.—Sink’g fd. 101V 102
|
105
j
New bonds, 7s, 1886..
So. Pac.of N.Mex.--lst,0s
Sinking fund, 5s, 1929.. j 104*4
i i*ii 34
Sink, fund, os, 1929, reg 104
115V118
Clove* P. A Ash.—7s
Union Pacific—1st, 6s
120
Land grants, 7s, ’87-89 108
Sink’g fd. deb., 5s, 19331 94 V *95
Buff. A Erie—New bds
1
25 years deb. 5s, 1909..!
Kai. A W. Pigeon—1st..
93 V 93 34
Sinking funds, 8s, ’93. 117*4
1 117
Det.M.A T—1st,7s,1906 118
Registered
Reg 8s, 1893
Escanaba A L.S.—lst,6s 108
j‘100
Lake Shore—Div. bonds 120
116
Des M. A Min’ap.—1st,7s;
do
5s, 1907
Consol., coup.. 1st 7s. 126
! 110V113
Iowa Midland—1st, 8s..|
Consol., reg.. 1st vs... 125 ,125*3
117*
1 10634
114*21116
I
Peninsula—1st, conv. 7s
1st, 6s, 1896
Consol., coup., 2d, 7s..
114
105*3 106*4
Chic. A Milw’kee—lst,7s! 121 *3 123
115*4
Consol., reg., 2d. 7s
93*4 93*3'
Win.A St.P.-lst, 7s, ’871 105
105*4 Long Isl. RR.—1st. 7s, ’98 121
104 *8
2d, 7s, 1907
! 120*3 125
1st, consol., 5s, 1931
*9*6 |
86
Mil. A Mad.—1st,6s,1905 109
At.C. A P.—1st,6s,1905 1
Louis. West—1st, 6s
86
1*02* * Louisv. A N.— Consol., 7s.
118
Ott. C.F.A St. P.— I st.5s 101
At, J. Co. AW.—1st, 6s
1 no
90*6 90 *3
122
O.C.C.AInd’s—1st,78,8.fd.; 120
Cecilian Br’ch—7s, 1907
Oreg. Short L.—1st, 6s
96*3
Consol. 7s, 1914
70*4 71
Ut. So.—Gen., 7s, 1909
!
N.O. AMob.-l3t.6s, 1930
91*2
Consol, sink, fd., 7s, 1914 *116
2d. 6s. 1939....
Extern, 1st, 7s, 1909
94
92
99 34 ib*6
General consol., 6s, 1934
Mo. Pac.—1st, cons., 6s.
96
9934
E.H.AN.—Isl, 6s, 1919
102
100
81
Chic.St.P.Miu.A Om.—
3d, 7s, 1906
General, 6s, 1930
90
106V
Consol. 6s, 1930
Pensacola Div.—6a,1920
Pac. of Mo.—1st, 6s...
j 111 111*3
110
St. L. Div.—1st, 6s, 1921
C.St.PAM.—lst,0s, 1018 117*3
2d, 7s. 1891
100
No. WiS.—1st. 6s, 1930.i 115
St.L.A
2d, 3s, 1980
S.F.—2d, 6s, Cl.A
99
99V'
St.P.A S.C.—lst,0s,1919[ 117
Nashv. A Dec.—1st, 7s. r114
3-6s, Class C, 1906....
9934 100*3
Chic.A E.I11— lst,s.f.,cur.|
'06*2
S.A N.Ala.—S.f.,6s,1910
3-6s, Class B, 1906....
Louisv. C. A L.—6s, 1931
Ohic.St.L.AP.—lst,con.5s| *71*2 75 i
ls% 6s, Pierce C. A O.
69*3 70
Chic. A Atl.—1st, 6s, 1920,
Trust bonds, 6s, 1922...
Equipment, 7s, 1895.. * 102
100
*58
Gen’l mort., 6s, 1931..
10-40 Abjint. 6s, 1924
2d, 68.1923
86
So. Pac. of Mo.—lst,6s *1*0*2 *2
L. Erie A W.—1st 6s, 1919
Chic.AW.Ind.-lst, s.f., 6s. 100
80
L02
Tex. A Pac.—1st, 6s. 1905 105V
Gen’liuort., 6s, 1932
i 100
Sandusky Div.—6s, 1919
*75
78
Ool.A Green.—1st, 6s,19161 ..
1. Laf.Bl.A M.—1st, 0s. 1919
Consol., 6s, 1905 t.....
36
35
94
Income A Id. gr., reg..
68*2 !Louisv.N.Alb.AC.—1st6s
2d, 6s, 1926
53
51
65 j!
Col H.Val. A Tol.—1st, 5«
Rio G.,6s,Aug.cp. on..
General mort, 6s, 1914.
49
50
120 JiLou. N. O. A Tex.—1st, os
87
88*
do ex Aug.coup.
Del. L.& W.—7s, conv., ’92 110
.1 jManhat.B’ch Co.—7s,l 909!
Pennsylvania RR.—
Mortgage 7s, 1907
95
130 I!
Pa.Co.’s£ruar.4*3S.lst,ep
N.Y. A M .B’li—1 st.7s.’97'
Syr.Binc.A N.Y.—1st,7s 124
95
103
63
88
......
70
......
......
“
......
-
-
.
.
.
.
......
....
-
r
...
.
|
1
.
'
,
*
,
-
..
_
fr,
.
'
......
1
,
......
...
.
•
•
•
•
......
......
......
_
.....
......
.
.
a
.
.
.
.....
..
......
—
......
♦No
prices Friday; these
are
2d, 7s, 1898
latest quotations made tlii3 week.
Coupons off.
105
—
Pitts.Cleve. ATol.—lst,6s
Pitts. June.—1st. 6s, 1922
Rome W.A
Og.—1st,7s,’91
Con., 1st, ext., 5b, 1922.
Koch.A
8*6’*
*100*3 10834
109
74*3
108*
Pitt.—1st, 68.1921
*90“
Consol., 1st, 68,1922
Rich.AAlleg.—lst.7s.1920 "5 o'
Rich. A Dauv.—Cous.,g.,6s
Debenture 6s, 1927
Atl.A Ch.—1 st.pf.,78, ’97
K-
61
96
108
Incomes, 1900
80
Scioto Val.—1st, cons., 7s
St. L. A Iron Mt.—1st, 7s il4*»i
J 104
2d. 7s, 1897
106
Arkansas Br’ch—1st, 7s 105
105
Cairo A Fulton—1st, 7s 103
103
Cairo Ark. A T.—1st, 7s
69
70
Gen’lr’y A1. gr., 5s.l931
110
St.L.Alton A T.H.-lst,7
2d, pref., 7s, 1894
2d, income, 7s. 1894
*9*7
...
Bellov.A So. III.—1st, 8s
109
110
110
i’lO
98
111
110*3
102*3 103
!
R’y—1st, 6s, 1920
2d, 6s, 1931
Shenand'liV.—lst,7s,1909
General, 6s. 1921
Tex.Cen.—1st, s.f.. 7s,1909
1st mort., 7s, 1911
Tol. Del. A BurL—Main,6s
1st, Dayt. Div., 6s, 1910
1st, Ter’l trust, 6s, 1910
Tex. A N. O.—1st, 7s, 1905
Sabine Div.—1st,Os,1912
Va. Mid.—M. inc., 6s, 1927
1*0*6“
100
103
104
87
69**3 *7*5**
69*3
*7*9**
......
*34V
72*3
Wab.St.L. APac.—Gen’l 6s
Chic. Div.—5s, 1910
Hav. Div.—6s, 1910
Tol.P.A W.-lst, 78,1917
Iowa Div.—6s, 1921
60
37
7234
60
Ind’polis Div.—6s, 1921
Detroit Div.—6s, 1921..
Cairo Div.—5s, 1931
Wabash—Mort. 7s, 1909
107
Tol. A W.—1st, ext., 7s *105
94
97 V
1st, St. L. Div., 7s, *89
91
2d, ext., 7s, 1893
Equipm’tbds, 7s, ’83. *30
81
Consol, conv., 7s, 1907
Gt.West’n—1st, 7s, ’88 ib5*V 106
91
93
2d. 7s, 1893
Q.A Tol.—1st, 7s, 1890
Han. A Naples—1st, 7s
Ill. A So.Ia.—lst,ex.,68
A
StL.K.C.AN.—R.e.,7s
Omaha Div.—1st, 7s
Clar’da Br.—6.3,1919
St.Chas. Bge.—1st, 0s
No. Missouri—1st, 7s.
W est. U n.Tel.—1900,coup.
1900,
reg
98*3 102
103
80
111
110
110
68
^
—
95*a
2d, guav., 7s, 1898
PittS.B.A B.—1st, 6s, 191ir; —
So. Car.
35
010
11
119
St.L. V. A T. H.-lst, g.,7s>*H4
1st, consol., 6s, 1933
1st. cons., 6s, reg., 1933
Miu’s Un.—1st, 6s, 1922
St. P. A Dul.—1st, 5s, 1931
i
Ask.
1st, reg., 7 s
2d, 78,1913
Pitts. Ft. W.A Chic.-1st 1*6
136*4
137
2d, 7s, 1912
---3d, 7s, 1912
| 131
Clev.A Pitts.—Cons.s.fdJ 122*3 125
4th,s. fd.,6s,1892
i*107
Dakota Ext.—6a, 1910..
1
Buff.—Cp.,5i
...J
rr^l
.
9014 j *9i*i
75
*
2d, 6s, 1923
«
St,L.—1st, c.,7s
2d, 6s, 1909.....
35
*2 '105
*95
!
Pa. Co.’s Reg., 1921
/v
i
-i
.
33*2
*103
Bid.
St.P.Miun.A Man.—1st,7s
V
Harlem -1 st, 7s, coup.. J 131*4
131*31.
1st, 7s, reg., 1900
1
N.Y. Elev’d—1st, 7s, 1906 115*3 117
N.Y.P.A O.—Pr.l’n, 6s. ’95 i
36
>' 34
103
0
113
118
110
Registered
Funding 5s, 1899
Pitr.C.A
102
Deb. 5s, 1904
97
H434'
50*4
37*3
District of Columbia—
3-65 s, 1924
DUr n
6s, 1909
[—•
44
4934
50
5
SECURITIES.
93*4
1911
6.7A8
Mich.Cent.- Cons.7s, 1902 120
'105
Consol. 5s, 1902
-
j*
2d, 7s, 1905
West. Div.—1st, 5s
2d, 6s, 1931
92
'
96*3
42*2
38
38
60
106*3 ;Fenr„ RR.—Continued— i
106
......
ion
j
Gal. Har. A S. Ant.—1st, Os’
115
Bid. ! Ask.
......
|
......
2d, 6s, 1899
\f.w
lof
Mex.
Cent.—1st, 7s,
1st M., 7s, ex-cp.,
105*2
106*2 107
Ask.
BONDS.
......
..
120
l
....
••••••
116*3
117*3
!
44
1112
Coupon, 7s, 1894
Registered, 7s, 1894
1st, Pa.Div., cp., 7s, 1917
1st, Pa. Div., reg., 1917.
Alb. A
1^4*4
6p, new, I860
6s, consol, bonds
6s, ex-matured coupon.
6s, consol., 2d series
6s, deferred
45
98
Coupon, 5s, 1931
Registered, 5s, 1931
J ack. Lan. ASag.—6s, ’91.
94
1117
Milw. A No.—1st, 6s, 1910
*H634 118
1st, 6s, 1884-1913
*131
I
98
99
V
M11.L.S.AW.—1st,6s,1921
*131
95
Mich, div.—1st, 6s, 1924
120
*108 V
Minn. A St.L.—lst,7s,1927 118
10 i
Iowa Ext.—1st, 7s, 1909 112
1104*8
98
i 00
124*3
2d, 7s, 1891...
113
S’tliw.Ext.—1st. 7s,1910 11234 113*3
134
102*3
Pac. Ext.—1st, 6s, 1921.
64
*135
"66“
Mo.K.A T.-Gen’l,6s,1920
81
50*4
83*3
General, 5s, 1920
46
48
102*3 102 ;,4
Cons. 7s, 1904-5-6
50
82
|
Cons. 2d, iucome, 1911..
38
37
H. A Cent.Mo.-lst, ’90
50
103*2'
Mobile A Ohio—New 6s..
*5
Collater’l trust, 6s, 1892
114
1st, Extension, 6s, 1927;
45*4 45 34 Morgan’s La. A T.—1st, 6s;
85
J ******
1st, 7s, 1918
Nash.Chat. A St.L.—1st,7s!
2d, 6s, 1901
! --**•*
82*3 85
N.Y. Central-Gs, 1887..J lj>»
120
Deb. certs., ext’d os
| 1^3 V 104
108
N.Y.C.A H.-lst, cp., 7a;
103
1st, reg., 1903
1 181
Construction, 5s. 1923
7b
92
42*2
42*2
j 97*2
Del. A Hud. Canal—1st,
1st. ext., 7s, 1891
104’
.
St. L. Jack. & Chic.—1st
guar.,
j
|
1
106
SECURITIES.
j 114*3
C’mp’mise.3-4-5-08,1912
Virginia—6s, olu
1
105*2
jMetropolit’nEl.—lst,1903j
136
2d, 7s, 1891
82*2 84
108
110
...
Bid. 1 Ask.
SECURITIES.
I
South Carolina—
!
Bid.
—
5
1
6s, Act Mar. 23, 1869 1
non fundable, 1888.1
1 Brown consol’n 6s, 1893
! Tennessee—6s, old,1892-8
| I
6s, new, 1892-8-1900
Bid.
1 Tennessee—Continued—
1
6s, new series, 1914
2*2
4s, 1910
6s, 1919
Ohio—6s, 1886
•
SECURITIES.
Wil.C.&Ru.R.
Do
Consol.
.
Ask.
38
Special tax, all classes..
.
RAILROAD
SECURITIES.
Bid.
111*3
111
'*0*9'
INCOME BONDS.
(Interest, pnuable if earned.)
Alleg’ny Cent.—Inc., 1912
Atl. A Pac.—Inc., 1910...
Central of N. J.—1908
163«
17
11
12
—
Cent.Ia.—Coup. deb. certs.
Chic. A E. Ill.—Inc., 1907
DesM.A Ft.D.—lst,ihc.,6s
Det. Mack. A
Marq.—Inc.
E.T.V.AGa.—Tnc.,6s,1931
Elizab. C. A Nor.—2d, inc.
Gr.BayW.A St.P.—2d,inc.
I lid. 131. A W.—Inc., 1919
Consol., inc., 6s. 1921...
Ind’sDec.A Spr’d—2d,inc.
Trust Co. certificates..
Leh. A Wilkosb. Coal-’88
Lake E.A W.—Inc.,7s, ’99
Sand’ky Div.—Inc.,1920
Laf.Bl.AMun.—Inc.,7s,’99
Mil. L. Sh.A W.—Incomes
Mob.A O.— lst,prf., deben.
2d, pref., debentures
3d, pref., debentures
4th, pref., debentures
‘8*3
15
15
*13
*13
25
55
25
60
30
..
N.Y.Lake E.AW.—Inc. 6s;
N.Y.P.A O.—1st, iuc.ac.,7fr
Ohio Cent,—Income, 192(
Min’l Div.—Inc„7s,1921
Ohio So.—2d inc., 6s, 192J
Ogdens. A L.C.—Inc., 192c
PeoriaD.AEv.—Inc., 192(
Evausv.Div,—In192<
Peoria A Pek.Un.—Iuc.,6;
7e
So.Car.Ry,—Inc., 6*, 193i,
St.L,AI.Mt.—l8t,7s,pr.i.a
Rome W. A Og.—Inc.,
St.L.A.A T.H.—Div.biN
3*3
5
22*9
*20
60
81
*25
15*
52*3
32 *a
35
Latest
1884.
1883.
Week or Mo
$
7,322
58,294
Boat. H. T. & W. 2d wk Jan.
Bur.Ced.R.ANo. 2d wk Jan.
KL.RCk
1 si wfa Jau
20,998
Chesap. & Ohio. 2d wk JaD.
68,199
Eliz.Lex.AB.8.
Chee. O.&S.W..
Chicago A Alton
Chic.& East. Ill.
Chic. Mil. A St.P.
Chic. & Northw.
2d wk
2d wk
2d wk
2d wk
2d wk
2d wk
11,660
29,228
Jan.
Jan.
172.381
Jan.
Jau.
33,424
Jan.
362,000
Jan.
381,600
78,200
Ch.St.P.Min.AO. 2d wk Jan.
17,748
Chic. & W. Mich. 2d wk Jan.
46,092
Cin.Ind.St.L.AC. 2d wk Jan.
44,386
Cin. N. O. & T. P. 1st wk Jan
37,009
Cin. Wash. ABalt. 2d wk Jan
7,231
Oev. Akron A Col 2d wk Jan
85,083
Denver & Rio Gr. 1st wk Jan
6,843
Dee Mo. A Ft. D. 2d wk Jan.
15.828
Det.Lans’gA No. 2d wk Jau.
16,554
Dub.ASiouxCity 2d wk Jan.
12,981
Evansv. & T. H. 2d wk Jan.
34,698
Flint A P. Marq. 2d wk Jan.
23,653
Flor.R’way A N. 2d wk Jau.
285,598
Grand Trunk... Wk.Jan.10
5,286
Gr.BayW.ASt.P. 2d wk Jan.
255,600
HI.Cent. (Ill.)... 2d wk Jan.
30,700
Do
(Iowa) 2d wk JaD.
52,337
Ind. Bloom. & W. 2d wk Jan
13,105
Kentucky Cent’l 2d wk Jan.
2d wk Jau.
38,710
Long Island
271,530
Louisv.ANasliv. 2d wk JaD.
67,700
Mexican Cent... 2d wk Jan.
16,355
Mil. L.8h. &We8t. 3d wk Jan.
65,189
Norfolk & West. 2d wk Jan.
12,606
Shenandoah V. 2d wk Jan.
15,991
Ohio Central.... 2d wk Jan.
16,236
Peoria Dec.&Ev. 2d wk Jau.
19,701
Booh. <fe Pittsb’g 2d wk Jan.
23,569
Bt.L.Alton&T.H. 2d wk Jau.
14,270
Do
(brchs.) 2d wk Jan.
7,98
ELL. Ft. 8. AW. 2d wk Jan.
82,13<
BLL.ASan Fran. 2d wk Jan.
18,38(
Bt.PaulADul’th 2d wk Jan.
17.19*
Tex.A 8t. Louis. 1st wk Jan
Latest Earnings
Roads,
Week, or Mo
1885.
4,748
15,335
110,727
178.000
20.998
133,361
23,232
82,523
124,000
19,146
53,840
324,642
21,727
175,626
33,139
65,045
6e8,ooo
343,703
317,800
80,900
24,591
38,677
34,558
683.900
146,400
33,850
87.771
44,386
73,663
14,398
85,035
31,359
7,184
82,886
7,159
19,836
11,246
27,896
29,195
25,493
64,342
47,501
578,519
9,826
450,800
54,300
98,899
19,196
10,287
42,93 ^
21,267
253,315
7,811
215,497
35,766
51,091
11,644
34,014
207,230
34,729
1884.
21,196
42,59 4
325,048
55,336
659,705
593,000
139,000
42,120
73,978
34,558
65,356
14,236
82,886
12,029
33,077
30.830
20,574
77,444
43,089
503.973
13,160
373,207
58,499
Manhattan Co
Merchants’
Mechanics’
City
Tradesmen’s
Fulton
Chemical
Merchants’ Exch.
Gallatin National..
Butchers’ A Drov..
Mechanics’ A Tr..
Greenwich *
Leather Manuf’rs.
Commerce
Broadway
Mercantile
Republic
Chatham
Peoples’.
North America
Irving.^
515.335
69,167
418,085
130.700
83,456
46,130
89,094
21,115
37,481
26,57 6
30,800
46,500
26,804
12,545
121,910
27.459
66,643
42,202
4L.960
26,650
14,883
145,26)
15.887
30,659
17,196
31,775
18,034
$
1884.
*
...
Citizens’
Nassau
Market
St. Nicholas
1
Shoe & Leather..
Corn Exchange ...
Continental
Oriental
Importers’* Trad.
Park
North River
East River
Fourth National..
Central National..
Second National..
Jan. 1 to Latest Date.
1883.
.r
Pacific
79,122
16,700
13,400
26,329
15,307
7,811
Ninth National...
First National....
Third National...
N. Y. Nat. Exch..
Bowery
Y. County
1883.
$
N.
German-.Vmeric’n.
Chase National...
108.995 1,155,136 1,071,829
147,375
Ala.Gt. Southern December
December. 1,282,739 1,312,739 16,339,540 15,939,440
Atch. T.A S.Fe
130,000
Atlantic A Pac. December.
4.321.500
10,682.800
2,601,000
7.304.300
2.160.300
984.300
13,890,200
2.893.400
4.941.800
1.530,700
662.000
773.100
2.891.400
Fifth Avenue
German Exch’nge.
other
than U. S.
renders.
Circula¬
1,263,000
622,000
1,756,900
2,842,000
3,170,000
1,386.900
3,701,000
1.188.300
4,302,500
923,000
331.300
1,178,100
296.000
310.100
9.467.400
1,224,000
437,800
1.224.300
81,600
197.300
6.786.400
1,094,400
165.700
1,065,200
1,442,600
273.700
262.300
436.500
160,000
12,903.000
9,520.000
8,084,500
8,694,000
4,098.600
12,409,100
2,245,000
15.604.400
2,049,100
1.716.700
18,994,800
2.953.900
3.695.500
1.789.500
830,000
910,400
176.000
106.500
735.300
278.400
tion.
$
$
$
8,066,000
6.754.600
6,996,000
248.700
230.900
196.600
385.800
2,504,800
1.190.500
1,042,700
3.945.500
2.659.300 1.399.300
12,694,000 4,899,000 2.094,000 14,015,000
17.430.600 5.705.200 2,405,700 16,991,600
4,738,000
648.500
367,000
6.155.400
6.964.700
814.300
6.150.900 1.758.300
2.972.100
276.700
946.900
2.121.400
5.452.500
700.400
6.336.100 1,167,000
4.241.200
636.400 1.131.300
3.142.100
1.805.200
178.200
211.900
1.536.100
3.449.100
636,000
114.300
3.123.400
9,038,200
801.600
7.890.400 2.256.200
3,111,000
685,000
826,200
2,409,000
3.645.200
344.200
2.465.600 1,129,800
2.823.600
553.100
251.400
2.127.600
2.401.900
431,10u
293.200
2.678.500
2.161.400
381.800
319.600
2,003,300
3,300,000
636,000
640,000
2,713,000
4.597.100
814.400
467,000
5,047,900
5,443,000
750.200
3.824.400 1,506,000
1,980.000
014,000
94,300
1,740,000
16,924.000 8.998.200 2.185,400 25,072,800
17.658.e00 4.973.300 2.207.300 23.215.400
1,688,000
244,000
22,000
1,520,000
978,600
237.200
166.600
1,006,100
16.160.700
13.232.600 5.283.700 1,369,000
8,920,000
6,557,000 2,213,000 1,593.000
270.000
2,696.000
662,000
2,063,000
5.927.400
703.300
4.405.400 1.807.400
17,035,300 4.354.700 1,127,81)0 18.745.700
5.279.500
511.200
4.911.500 1,033,200
1.208.900
311,000
209.400
1.153.900
274.100
2.120.100
401,000
1.900.900
2.311.900
655.400
257.500
1.309.900
3,072,200
204.600
774.600
2,816,200
4.115.200
371.200
751.300
3,251,000
2.853.900
310.300
813.600
2.384.900
2.350.400
674.000
134,000
1,586,000
2.444.500
190.900
255.200
1.845.200
3.708.600
M.KAT—Income
Seventh Ward....
State of N. Y
Americ’n Exch’ge.
Hanover
49,0 5
.
Union
America
Phenix
23.288
115,352
23,122
c 3,719
....
Net Deposits
Legal
Specie.
$
11,912,000
New York
92,113
16,415
Reported.
126,517
Loans and
Discounts.
25.789
43,533
10,540
20,186
18,034
Average Amount of-
$
9.615
10,598
ending January 17, 1885:
Batiks.
$
19,146
63,404
week
1834.
$
46.721
64.000
87.000
Canadian Pacific 2d wk Jau.
...
Jan. 1 to Latest Date
Earnings Reported.
Roads.
the
the
New York City Banks.—The following statement shows
condition of the Associated Banks of New York City for
EARNINGS.
RAILROAD
Central Iowa
[VOL. XL.
THE CHRONICLE.
118
450,000
340,000
"i'ioo
254,000
40",2d6
292.500
605,400
201.500
‘*2*6*00
524,000
29,100
818.900
900,000
854,000
423*666
45,000
5,400
3*66‘66a
316.400
270,000
4*41*6*0*6
4*40*,6*0*6
*75*766
9*85*8*0*6
45,000
2*24,*4*66
360,000
297,000
45,000
45,000
449.900
179*7*66
225,000
180,000
45*6*66
Germania
lfc 0,000
195.800
959.900
3.306.800
United States
45,000
1,061,000
154.500
24,744,420 Lincoln
317.700
22,143,545
1,868,458
1.645,000
1.406.200
December.
180,000
Central Pacific..
956,200
181.800
131.200
23,423,313 23,939,450 Garfield
999.300
2,562,773
2,233.891
November.
135,000
Chic. Burl. A Q.
1,166,000
187.600
127.400
1.131.200
370,079 3,457,653 3,996,240
Fifth National....
319,708
dev. Col. C. A Ind November.
3,913,000
665.300
374.700
2.771.900
178,425 B’k of the Metrop..
180,559
21,109
21,973
October...
Danbury A Nor.
67,602
97,444
Denv. A R. G. W. December.
Total
295,337,800 98,485,600 41,091,700
339,178 3,020.977 3,079,967
323,097
October...
Eastern
3,616,819 3,769,330
No report; same as last week.
409.665
November.
380,180
MTenn.Va.AGa.
386,898
459.252
31,271
25,289
Ft.Worth A Den. December.
The following are totals for
436,112 2,320,280 2,998,119
335,241
Gal.Har.A 8. An. October...
195,623 1,764,835 2,124,440
144,588
Circulation Agg. Clear1 gs
Deposits.
Gulf Col. ASanFe December.
L. Tenders.
Loans.
Specie.
266,337
1885.
218,316
37,428
23,830
Hous.E.AW.Tex October...
$
1,995,612
$
2,395,843
44,650
$
56,949
$
Ft.S.A Gulf 4th wk Dec
$
$
11,398,800 520.508,478
1,216,483
340.816.300
41.710
37,356,900
87,887,800
Kan. C. 8p. A M. 4th wk Dec
496*314 Jan. 103 297,887,700
349.247.300 11,262.000 516,152,177
512,558
70,052
80,557
290, L53.600 95,177,000 39,779,200
A Ft.Smith November.
353,726,100 11,311,600 524,875,451
361,326
313,445
50,133
43,353
17 295,337,800 98,485,600 4 L,094,700
L.Rk.M.Ri v. A T. November
494,436
501,382
70,665
70,004
September
La. A Mo. River
900,691
822,705
20,792
Boston Banks.—Following are the
21,425
Mar.Hough.A O. December.
182.343
150,749
December
Memph. A Chari.
Deposits.* Circulation Agg. Clear’gs
L, Tenders.
555,651
Loans.
Specie.
14,132
1885.
Mex.Nat.,NoDd 4th wk Dec
772,39.
$
24,35b
wk
Dec
$
4th
Southern Div.
$
$
$
$
248,970
2,846
23,271,600 70,094,062
Other lines e.. 4th wk Dec
100,659,600
6,423,200
7,347,600
478,063 Jan. 3 145.724.800
510,034
39,025
39,185
6.457,500 101,251,500 23,169,300 69,281,591
Milwaukee A No December.
10 146,288,900 8,022,300
23,095,500 69,619,086
151,576 1,497,029 1,303.435
171.746
Minn. A St.Louis October...
17 146.833.800 8,234,700 6,499,600 102,896,900
289.246 2,161,761 2,266.642
285,986
Mobile A Ohio.. December.
209,999 2,358,682
197,512
Nash. Ch. A St.L. December.
Philadelphia
176,919
532,925
56,932
93,154
N.O. A Northeast December.
are
as follows:
3,411,835
3.007,922
310,092
254,420
N.Y. A New Eng November.
19,028,976
Deposits.* Circulation. Agg. Clear'gt
N.Y.L.ErieAW.fj November. 1,371,519 1.776,173 15,279,090
Lawful Money.
Loans. ■
1885.
487,970 595,308 5,167,418 6.331.500
N. Y. Pa. A O. November.
$
$
929,832
$
946,524
86,793
$
97,275
$
N.Y.Susq.AWest November.
47,678,782
7,842,835
73,581,005
135.442
24,723,819
138,578
72,927,921
Jan.
3
N. Y.Ont. A W.. November.
44,438,297
7.834,993
73,715,331
26,225,804
409,152 5.521*, 878 6,088,131
10
442,269
73,013,654
Northern Cenfcr’l December.
73,514,862 7,824,435 48,600,219
20,539,294
10,149,050
12,591,620
17
856,184
72,546,283
739,544
December.
Northern Pacific
361,022
December.
314,907
Ohio A Miss
including the item “due to other banks.”
361,090
472,202
35,207
47.316
December.
Ohio Southern
Unlisted
are
114,174
90,700
Oregon A Cal... November
*
353,726,100 11,311,630
several weeks past:
“
“
........
totals of the Boston banks:
'
“
“
Banks.—The totals of the
Philadelphia banks
“
“
*
Securities.—Following
3,797,529 week past:
November. 3,950,937 4,473,479 44,797,583 47,242,734
Bid.
326,289
376,662 3,379,022 3,851,537
November
Securities.
November. 2,554,133 3,654.916 24,548,108 28,002.556
November. 1,645,577 1,756,585 15,386,151 15,969,030 Am. Bank Note Co
366,710 334,640 3,873,724 3,845,152 Atlantic A Pac.—Stock— 15
December.
Aecumul. land grant
828,901
776,746
77,914
83,096
December.
737,897 B’klyn Elev.—1st, ass’t pd' "8H
65,570
688,901
82,590
December.
Bank.AMerch.Tel.—1st M'
58,883
71,876
67s
December.
Gen. mort
,
118.443 1,590*099 1,686,192 Bost. H. A E.—New stock
115,614
December.
382,037
440,122
33,784
December.
37,246
Old
151,461 1,589,588 1.541.501
Bost. H.T.A West.—St’k.
155,975
November.
235,597
240,398
Debentures
27,666
25,752
October...
Oregon Imp. Co. November.
Pennsylvania...
Phila. A Erie
Phi la. A Read’gA
Do
C. A Iron
Bichm’d ADanv.
Ch. Col. A Aug.
ColumbiaAGr.
...
Georgia Pac..
Va. Midland..
West. No. Car.
Rome Wat. A Og.
BLJohnsb.AL.C.
BfcP.Mln.A Man.
Booth Carolina.
8o.Pac.Cal.,N.D.
Do So. Div.i.
December.
November.
October...
Ootober...
Do Arizona.!. October...
Do N. Mex.t. October...
Tol. A, A. AN.M, December.
Union Paoiflo... November.
December.
Utah Central.
305,057
826,293
133,831
164,141
1320,823
168,138
68,992
23,500
2,426,771
76.320
..
Vleksb’rgAMer. December.
Vioksb.Sh.APac.
Wab. St. L. A P.
West Jersey....
Wisconsin Cent'!
December.
December.
October...
December.
62,793
55,550
384.247
699,480
124,820
125,582
3,143,398
8,275,387
8,394,6C 0
1,102,095 1,198,100
1,234,048 1,085,897
t343,274 t2,995.452 t3,457,555
215,750 1,534,105 2,103,397
678,151
75,671
579,709
201,124
239.415
19.598
2,625.889 23,459,080 26,393,747
93,470 1,038,938 1,174,736
527,450
504,660
66,753
20.357
291,666
139,r,00
1,448,383 1,518,287 16,696,381 16,908,463
92,860
88,232 1,153,672 1,071,156
117,798 1,434,126 1,446,730
127,991
397 miles; up to May embraced only
e Only 136 miles now, but prior
to May represented 297 miles.
g Not including earnings of New York
Penn. A Ohio road.
h Not including Central New Jersey in either
year prior to June 1.
i Included in Central Pacific earnings above.
dGorpns Ghristi to Saltillo,
336 miles, Laredo to
Does not include
Saltillo.
Colorado Division in October in
either year.
Buff. N. Y. A Phila
Pref....
Trust bonds, 6s
Continental Const.Imp.Co
Denver A New Orleans
Denv. A Rio Grande—cons
5s
Denv. A Rio Gr. W.:
Den. R. G. A W., 1st M.,
Gsar. by D. A R. G...
Edison Electric Light.
Georgia Pac.—Stock
1st mort., 6s
Keely Motor
Louisv. A N.—Adj. bonds
Mexican National
Pref
1st mort
Mut.Un.—St’ck trust
4 *2
Incomes
Pensacola A Atlantic
1st mortPitt sburg A
1st mort
40\
bh
3*i
..
497g
14
l7e
lHi
50
2H*
Postal Telegraph—Stock.
1st mort., 6s
28
1st mort
St. Joseph A Western
State of Tenn.—Set’m’t.3s
11
54
Settlement, 5s
Settlement, 6s
Texas A Pac.—Scrip
Old scrip
13
32 Hi
2*a
72
Western
1884.
New scrip
Tex. A 8t. Louis—
M. A A. Div., ass’tpd...
M. A A. Div., 1st mort..
M.AA.Div.,incomes,as p
6s, 1st mort., in Texas..
Gen. lst,ld.gr.Ainc.asp.
U. S. Electric Light
Vicksburg A
mTuti. Tel.—Stock.
B.—Stock.
North. Pac.—DUr. bonds..
North Riv. Cons.—100 p.c
N. .T. Southern
Ohio Cent.—Riv. Div., 1st
ctfs
scrip
Mahoning Coal A RR
N. Y.
35 Ha
60
10
Bid.
Securities.
N. Y. W. Sh. A
11 Hi
91*4
39 *a
2d mort
Ask.
latest quotations for a
Pref
1st mort
2d mort
Incomes
Meridian...
:
I8H2
65
93
32
37
35
13
54 Ha
*9*4*"
IHj
27 7e
29
3
27 Hi
4
r»o
lHa
3
85
50
10
3H*
January
THE CHRONICLE.
24, 1885.J
% ttjujcs tfw t n t
Locomotives
Pass., mail &
AND
1830-81.
73
60
ex. cars
Freight
cars
all other cars
Coal
ail mail
lie
liitjcIHfljencu.
The Investors’ Supplement contains a complete exhibit of the
Funded Debt of States and Cities and of the Stocks and Bonds
of Railroads and other Companies.
Operations—
Passengers carried..
Passenger mileage..
Fi’ght (tons) moved
Fi’glit (tons) mileage
Earnings—
Passenger
cents each, and to others than subscribers at $1 per copy.
Railway.
(For the year ending Sept. 80, 1884.)
At the annual meeting of stockholders the following direc¬
tors were elected for the ensuing year: Edward F. Winslow,
Horace Porter, Richard Irvin, Jr., Henry Amy, Thomas P.
Fowler, Charles Bard, John B. Kerr, Charles S. Whelen,
Walter Katte, John L. Nisbet, Alexander Taylor, Jr., Thomas
Swinyard, Arnold Marcus. About 250,000 shares of common
stock and 16,000 shares of preferred stock voted. There was
no opposition.
The official pamphlet report for the last fiscal year has just
been issued.
Mr. E. F. Winslow, the President, gives an ex¬
tended historical account of the relations between this
com¬
pany and the New York West Shore & Buffalo.
Referring to
the changes in tl)e lease it is said :
“
Since the West Shore Company opened its road as a through
437
1,133
674
663
1881-82.
30,687,380
$180,152
469,156
$211,789
605,478
275,737
219.297
754,279
249,722
$925,015
$1,036,564
$1,357,778
$1,789,939
$204,658
141,388
361,455
$250,710
171,877
425,656
$299,117
633,189
$285,911
515,694
953,129
$707,501
$217,544
$349,273
$188,291
$1,198,076
$159,702
$1,754,634
$35,305
Total (incl. taxes)
*
earnings
391,458
469,526
546,803
15,761,001
562,836
39,162,019
are
32,485,364
1,0 04,248
68,964,956
$354,777
$636,555
1,067,808
85,576
265,870
In years
these
1883-84.
944.0P3
19,511,152
Operating expenses—
Net
1882-93.
8,392,845
Transpon’n expen’s.
New York Ontario & Western
75
1,138
1883-84.
73
79
1.177
683
326,670
7,251,209
349,513
Maint.ma^h’ry&cars
REPORTS.
1882-83.
73
1,042
1860-81.
Maiut. of road &, R.E.
ANNUAL
73
60
OPERATIONS AND FISCAL RESULTS.
It is published on the
February, April,
Junet August, October and December, and is furnished with¬ Freight
out extra charge to all regular subscribers of the Chronicle. Mail, exp., rent, &c.*
Extra copies are sold to subscribers of the Chornicle at 50
Total
last Saturday of every other month—viz.,
1881-82.
prior to 18S1 includes receipts from other
given in income account following.
sources ;
in 1884
GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAR.
Assets —
Road and equip..... $51,506,155
Other lines owned.
4,865,917
Cash and dem. loans
3,591,150
W.Sh.&OTer.st’s&b’s
Floating equipment-
$52,210,123 $52,856,048 $53,1*53,266
7,903.934 11,677,460
*6,593,074
Oil,197
162,697
41,808
2,064,000
873,854
202,982
154,866
individual accounts
Duo from N. Y. W.
Shore & Buff. RR..
Due from W. Shore
Ont. Ter. Co
Due from North Riv.
Construction Co...
Other railroads
Rails,fuel,&o.on h’nd
212,999
■5,4S8
163, lOi
641,329-
85,889
136,903
3,355
•525,698
2,330
731,068
61,350
637,262
79,761
294,150
51,195
line, the original terms of the lease and trackage agreement Miscellaneous
have received important modifications through agreement and
Total assets
$60,705,274 $61,554,440 $67,776,845 $62,144,211
arbitration. It was agreed between the companies on April 1,
Liabilities—
1884, that the Ontario & Western Company should be released Stock, common
$59,113,983 $59,113,983 $58,113,983 $58,113,983
2,000,000
2,000,000
2,000,000
from its obligation to pay any sum as a minimum rental, and Stock, preferred
2,000,000
Debenture bonds..
100,600
should retain the whole of the earnings of its through traffic
Pay-rolls, bills and
over the leased line originating at Middletown or other points
accounts unpaid...
326,210
881,617
621,989
340,412.
Other railroads
on its own lines, and destined to Weehawken, New’ York,
3,933
6,126
2,170
1,335
Individual accts....
290
17,129
25,752
Jersey City, or points on any connecting roads south of Haver- Due W. Shore & Ont.
straw, or vice versa, until the gross earnings of the leased prop¬
Ter. Co
132,570
747,682
1,661,987
erty from all sources shall amount to $2,000,000 per annum Loans & bills payable
4,*>92,068
for two successive years, leaving the Ontario & Western Com¬ N.Y.W.S.&B.bds.sold
Miscellaneous
t239,949
pany at present under obligations to pay the 25 per cent only Profit and loss
260.853
535,545
459,996
468,2sO
on the earnings of the West Shore trains passing over the
Total
liabilities..
$60,705,274 $61,554,440 $67,776,845 $62,144,211
leased section, and on all the strictly local earnings. It was at
the same time agreed that the Ontario & Western Company
In the balance slieefc the proceeds of sales of West Shore bonds and
should have the option to renew the modified lease for another stock are stated as $5,092,4d0, and the cost of “other lines owned,”
on the other side of the account, is reduced by thiR amount in 1684.
term of ninety-nine years.
i Estimated amount to pay for $500,000 West Shore bonds to redeem
The allowance of 60 cents per train mile to the West Shore
$550,000 Terminal bonds pledged.
Company for train service, named to begin with in the trackage
agreement, has been modified by arbitration, as provided for
in that agreement. The question was submitted to Mr. Albert
GENERAL INVESTMENT NEWS.
Fink, the Trunk Line Commissioner, who reduced the allow¬
Arkansas State Debt.—Governor Berry, in his farewell
ance to 36*9 cents per mile for passenger trains of five cars and
50-7 cents for freight trains of thirty cars, 2*45 cents to be message to the Legislature of Arkansas, says: “This healthy
allowed for each additional passenger car and 6 mills for each condition of our finances brings us, to use the language of the
additional freight car.
This modification took effect July 1, Treasurer, ‘ face to face with the question of the settlement of
our
undisputed debt.’ This debt, principal and interest, is
1884.
more than one half of which is interest.
$4,809,943,
No inter¬
Upon final settlement of the construction accounts there was
The people at the recent
due the Ontario & Western Company from the West Shore est has been paid thereon since 1872.
Company June 1, 1884, the sum of $704,424 33, which is to be election have by an overwhelming majority declared that they
applied to the payment of the 25 per cent half-yearly rental do not intend to pay what is known as the disputed debt of
account until exhausted; thus the rental of the leased line is the State, including the railroad aid, the levee and the Holford
paid in advance for a period of two or more years. The bal¬ bonds. Tlieir action in that behalf meets my hearty approval,
but I can no longer see any valid reason or excuse for notmakance due draws 6 per cent interest.”
* * *
Some estimate of the value of the lease to the Ontario <fc ing settlement and provision for the paymeut of interest and
Western Company may be formed by an examination of the gradual reduction of the principal of our undisputed debt. I
revenue, rental and expense accounts for the last quarter of fully believe that the best and only way to rid our State of its
the year, although the traffic was carried at extremely low just debts is to begin to pay them.
The action of the State
rates, and that contributed by the West Shore Company was Treasurer in redeeming the Loughborough bonds met my
hearty approval. While it was he who first discovered that
perhaps less in volume than will again be the case.
we had the right under the law to pay them before maturity,
Earned by Ontario & Western trains
$168,721
Contributed by West Shore trains
125,246 and first suggested that the surplus money in the treasury
should be used for that purpose, I fully endorsed his action in
Total
$293,967 the
premises, and feel great satisfaction that they are no longer
Credited West Shore Company upon rental account. $44,955
a charge against the State.
Allowance to West Shore Company for train service.
The Auditor and Treasurer both
47,340
Expenses (and taxes estimated)
141,050— 233,345 demonstrate by their reports that it is possible to reduce the
rate of taxation, meet all legitimate expenses of the State Gov¬
Surplus
$60,622 ernment and make
provision for the settlement of this old
The income account for 1884 was briefly as follows :
undisputed debt, which has so long tended to paralyze the
INCOME ACCOUNT FOR 1884.
energies of the people, repel immigration and retard the develReceipts—
Without going into detail or
Net earnings
$35,305 apment of the State’s resources.
Other receipts
202,929 suggesting the precise mode, I earnestly urge upon the Gen¬
eral Assembly to make a beginning—to do something to show
Total
$238,234 that we were fully in earnest when we said that we would pay
Bisbursemen Is
all we legitimately owed, but not a dollar of the fraudulent
Rentals
$218,491
Equipment and improvements
417,241 claims preferred against us.”
★
*
“
“
—
,
Total disbursements
$635,732
$397,498
Deficiency
Following
are
the statistics of operations and earnings and
the general balance for four years :
ROAD AND
Miles owned
Miles leased
Total operated..
Central Pacific.—The gross and net earnings for
and for eleven months
1880-81.
345
Gross
EQUIPMENT.
1881-S2.
345
345
earnings
345
1883-84.
77
297
77
422
374
Net
earning^...
Central of
New
reported
follows
as
November
1884.
1883.
$1,832,411
Operat’g expenses.
1882-83.
.
345
/
are
,
,
November
:
Jan. 1 to Nov. 30.
1884.
$2,104,639 $20,498,545
1883.
$22,875,962
1,242,256
1,303,908
14,438,912
14,291,410
$590,155
$300,731
$6,059,633
$8,584,552
Aew Jersey.—The case of Dinsmore against th e
Jersey Central and Philadelphia & Reading railroads>
to set
Of which there has been set aside to pay for purchases of additional
equipment $250,000, and the balance $269,690, carried forward to sur¬
decided in favor of the Read¬
aside the Central’s lease,
ing, has been appealed to the United States Supreme Court.
Cincinnati & Eastern.—Several petitions have recently
been filed by the bondholders of this company requesting the
courts to
hearing
payable March 2. The transfer books will close on Feb. 13.
Lehigh Talley.—In advance of the annual report the fol¬
lowing is a brief comparative statement for the past two
permit no further issue of receiver’s certificates. A
recently had of these petitions, and by general
an order will be issued during the present term of
years:
court for the sale of the road.
The receiver reported to the court that he
ized to issue $310,000 in certificates, and of these
been used in completing the road to
had been author¬
$235,000 had
Portsmouth and in mak¬
ing arrangements to change the older portion to standard
gauge.
The receiver placed tli total indebtedness, including
bonds, certificates and floating debt at $1,994,000.
Grand Trunk.—This -company shows an immense loss of
net earnings in November and a heavy loss for the five months.
It is to be supposed that the shareholders will look with disfavor
on the cutting of through rates in connection with the West
Shore road.
The statement for November and the five
months from
November.
1883.
,
Five months.
1883.
1884.
/
1884.
1,112,260
238,265
224,372
Expenses
,
1,152,305
Surplus,
£192,976,
per
'$4,902,80i
$4,663,972
-.-$37,475
$470,543
347,914
•
depreciation.
929,584
$194,236
$25,533
161,864
Inc.
51,435
Dee.
$433,078
Louisville & Nashville state¬
31, 1884, shows a surplus of
$716,715 above interest and other fixed charges. The state¬
ment .for the first half of the current year and preceding fiscal
Louisville & Nashville.—The
half year ended Dec.
follow:
year
£432,551
£585,482
£121,941
earnings for the five months was
111 per cent; in net earnings,££152,931, or 26T
1884-65.
,
*
Central.—A statement of operations of
Central Railroad Co., has been furnished
v
,
1883-84.
,
earnings (Dec., ’84, estimat.).$7,094,093
Operating expenses—(56-21 p. c.) [3,988,065
$7,794,864
(58 p. c.) 4,522,017
$3,106,028
$3,272,847
Gross
Net profit from traffic.Other income from investments—
cent.
Houston & Texas
the Houston & Texas
Inc.
Inc.
123?820
$122,598
i
ment for the
The decrease in gross
or
421,920
Surplus
£64,770
Net earnings
473,355
2,372,242
charges
Estimated
Dec.
$5,134,515
$.’,031,674
2,-10,378
Dividends
A....
Dec.
6,175,656
$2,057,208
4-—
Total
Dec.$l,
$11,310,171
$4,940,279
Net
Interest
Other
f'hci'hinpq
QQ1
5,246,072
Operating expenses
£360,206 £1,544,811 £1,737.787
£289,1-42
Earnings
i
$10,186,351
Total income
July 1 to Nov. 30 is as follows :
,
to next succeeding dividend.
of 4 per cent was declared,
plus dividend fuud and held applicable
The usual semi-annual dividend
was
consent
-
[VOL. XL.
THE CHRONICLE
120
130,482
52,797
$3,403,329
$3,158,825
Construction account.
Fixed
Taxes
charges
$114,673
2,152,432
175,000
$226,546
2,126,962
170,000
2,442,110
2,523,508
by Mr. C. P. Huntington, for 1884 and 1883, which makes the
$379,821
$716,715
net earnings in 1884 $161,109, as against $1,508,104 net earn¬
Surplus
ings previously reported for 1883. No explanation is given
Missouri Kansas & Texas.—Regarding the suit brought
of this extraordinary decrease, and it is to be sujiposed that
against this company the circular of Messrs. J. H. Davis & Co.
extraordinary expenses in improving the'property, or in some said on Thursday: “Kansas & Texas bonds have been a feature.
other direction, account for the diminution.
At all events, The first sold yesterday between 104 and 105; to-day they
the first mortgage bondholders should hold on to their cou¬ have ruled between 101 and 102.
This break was due to a
pons and do nothing to sacrifice their legal rights.
Their report that a suit had been brought against the company to
bonds are abundantly secured, and they had much better take
enjoin the payment of interest on certain junior bonds until
.possession of the road under their mortgage than to sell out interest had been paid on the bonds known as Kansas &
their bonds cheaply or be misled into the supposition that this Texas seconds.” *
* * “The only bonds that should be
road and its land grant are not worth $6,262,000. The state¬
affected by this suit are the general mortgage issues, and
ment is as follows:
these could only be disturbed in a very limited way as only
1884.
1883.
Chanr/es.
issue of the seconds
Gross earn in gs
$2,580,545
$3,251,675
Dec. $671,330 about $2,000,000 of the original $10,000,000been
converted into
Operating expenses
2,419,436
2,588,957
Dec. 169.521 remain outstanding. The residue have
general mortgage 5s. Should the suit be successful, it would
Net earnings
$161,109
$662,918
Dec. $501,809 oblige the company to pay cash interest on the outstanding
Interest
1,207,820
Dec. 26,077
1,233,897
seconds instead of scrip interest as at present.”
Deficiency
.....$1,046,711
$570,979
Inc. $475,732
New York Ac New England.—A dispatch from Boston Jan.
Mr. Huntington’s figures for 1883 given above,for compari
22, said: “The Finance Committee of the New York & New
son differ very materially from those that had been published
England Railroad effected a settlement with the Car Trust
in Poofs Manual, in the item of operating expenses, and for
management to-day, and the second mortgage coupons, which
the purpose of comparison with former years the table follow¬ were to be funded into second mortgage bonds at par in the
ing is made up, the figures for years prior to 1884 being taken event of this settlement, are now practically in the hands of
from Poofs Manual as they were reported by the company for the Finance Committee.
The Car Trust equipment has earned
eacli year :
about $65,000 of rental under the Receiver, and the overdue
r
Operating expenses.
(95’75)
1,223,723
$1,046,711
Deficiency
Surplus
$1,407,613 $1,606,783
1,193,255
1,171,741
$1,508,101
$161,109
1,207,820
Net
Interest
38^1
will, by the terms of this settlement, be paid in cash.
$3,156,517 $3,748,055 coupons
For the Car Trust bonds second mortgage bonds will be issued,
1.748,904 2,141.872
bearing 3 per cent interest for the first five years, 5 per cent
(53‘62)
(55-41)
(56 87) for the next two years and 6 per cent for the next eleven
$3,251,875
1,743,771
$2,580,545
2,419,436
Percent of expenses
to earnings
1882
1883
1884
Gross earnings
$214,358
$284,331
$435,042
Illinois Central.—At a meeting of the directors of the
Illinois Central Railroad Company the following approximate
statement of the business for the year (December being esti¬
mated) was presented :
GROSS EARNINGS FROM
TRAFFIC.
1683.
1884.
*
$6,674,703
4,364,930
$6,167,783
4,318,218
In Illinois
Southern Division
$11,039,633
$10,506,006
Lines owned
Iowa Division
1,704,048
-
2,023,110
Decrease.
$486,915
46,712
$533,627
321,062
$854,689
$13,061,743
Three eighths of the total decrease is on the lines in Iowa
leased for a percentage of their gross earnings. The net result
to the Illinois Central Railroad Company of operating these
lines lias been a loss of $33,000, against a profit in 1883 of
$35,533 76.
The net earnings from traffic have been :
■
In 1884
$4,796,000
5,264,156
in 1883
The net receipts from all sources have been :
$156,908
Surplus dividend fund, as shown in last report
Traffic...
4,796,000
Lands
87,132
Interest on investments, premiums on bonds sold
:
223,Or 0
$12,210,054
All lines
$5,263,000
From this sum was
141 h u
in. ur i
paid
nmniii,-, 1 uuu
Clark to the Court for
shows that cash re¬
ceipts in October were $404,492; November, $461,666; Decem¬
ber, $647,670; total for three months, $1,513,829.
For the twelve months ending Dbc. 31, 1884, the total re¬
ceipts were $6,393,989; payments of all sorts, $6,339,335; leav¬
ing casli on hand Dec. 31, 1884, $54,654.
Northern Central Railway Company.—The comparative
statement of gross earnings and expenses for December and
for the years
1884 and 1883 is as follows:
/
December
1884.
1883.
Year.
>
'
•
1884.
1883.
Gross earnings
$442,268
$109,151
$5,521,876
$6,088,130
Operating expenses
$269,436
$299,696
$3,027,956
$3,351,549
$353,048
$389,771
Extraordinary expenses
Total expenses
..
83,612
90,074
440,436
$3,468,393
480,055
$3,831,604
$2,250,525
Oregon Ac California.—On application of the English bondholdeis of the Oregon & California Railroad, which defaulted
on its January interest, the United
States Court at Portland,
Oregon, has appointed R. Koehler, heretofore the manager,
and A. G. Cunningham as joint receivers of the company.
Foreclosure suits will probably be commenced by the Farm¬
ers’Loan & Trust Co. of New*York on both the first and
Net earnings
second mortgages.
Pacific Mail.—A
$39,219
$19,330
$2,053,483
quarterly dividend of II4 per cent was
declared, payable Feb. 2,
and the statement for the quarter
earnings of $1,814,912, Operating expenses of
$770,218, net earnings of $544,694, and cash on hand of $579,-
shows gross
:
**
.1.491,500
143,000
Southern Division.
77,000
Chicago Sr. Louis & New Orleans RR
Permanent improvements in Illinois
Rental of
years.
The quarterly statement of Receiver
the three months ending Dec. 31, 1884,
81*
Philadelphia Ac Reading.—Some remarks upon the reor¬
ganization scheme proposed by the committee of this com¬
Swedge .Block,judgment
115,000— 2,423,400 pany’s stock and bond holders will be found in the editorial
Leaving net
$2,839.690 columns of the Chronic re. The general mortgage bondhold¬
The usual cash div\s 3 per cent on $29,000,000 have taken .
2.320,OCO ers would make a very profitable investment by taking the
Leaving as a reserve from the year’s earnings
$519,690 property, and in view of the company’s history in the past ten
Permanent improvements on
-
January 24,
THE CHRONICLE,
1885.]
121
years there would seem to be little reason in law or in morals per cent interest, payable January and July 1st of each year.
why they should give up their interest. The fixed charges Principal and interest payable in gold. Trustee, Mercantile
and the proposed reductions by the committee’s plan are given Trust Company of New York City. Common stock, 19,200
shares.
Par value, $50 per share. Preferred stock, 9,600
in detail as follows:
Reductions by
shares.
Par value, $50 per share. This stock is entitled to 7
Rentals. Committee.
Principal. Interest.
per
cumulative
dividend before dividend is paid on the
cent
Fixed charges—
$
$
$
$
common, and after the common has received 7 per cent this
Old mortgage bonds
5,246,700 341,802
stock shares in the surplus with the common.
36,250
Mt. Car. & Ft. Car. RR......
President,
Mill Creek & M. H. RR
34,671
Thos. M. King, Pittsburg, Pa.
30,890
Schuylkill Valley RR
The committee recommended the listing of these $1,440,000
Mine Hill & Schuylkill RR..
321,800
1st
LittleSchuyl. & E. M. RR...
210,780
mortgage coupon bonds, Nos. 1 to 1,440 inclusive,
143,839
East Pennsylvania RR
Portland & Ogdensburg.—The annual report gives the
291,104
Philadelphia G.
N. RR
reasons
for putting the road into the hands of a re¬
17,202
Chestnut Hill RR
635,776
32,910 ceiver, namely, the necessity for permanent repairs and
Schuylkill Canal
Allentown & Clies. Val. RR.
lack of means. The receiver’s report states that sixtyCole. & Pick. Val. RR
47,919
nine miles of new steel rails were laid, entirely replac¬
Swedes JFord Bridge
2,575
Consolidated mortgage
18,311,000 1.235.150
A considerable amount
ing the iron on the main line.
*43,669
177,150 of sidings was laid from iron taken up.
Susquehanna Canal
Much other perma¬
Catawissa RR
362,930
nent work was done, including new bridges.
These somewhat
Liability for interest separ?
exceeded the amount of the loan authorized by the court, and
ate from leases
3G,138
the balance lias been taken from the earnings.
Improvement mortgage
0,301,000 561,840
One new loco¬
General mortgage
765,580 motive has been
24,680,000 1,531,160
bought
and
four
hired.
The
gross
earnings
General scrip
1,000,050 100,197
Income mortgage
2,454,000 171,780
171,780 are $334,673, against $338,844 last year. The operating expenses
Perkiomen scrip
were $244,791, leaving a balance of $89,881.
5,832
97,200
The receiver’s
North Pennsylvania RR
861,912
certificates sold were $175,000. The repairs were $238,828.
Delaware & Bound Bk. RR.
270,450
The surplus is $26,082.
86,715
Liability of guarantees
32,646
3,158,329
1,732,052
Five per cent consol, lsts...
Five per cent consol. 2ds
Oar trusts of 1862
Car trusts of 1883
Central of New Jersey
156,825
158,825
86,350
108,000
86,350
66,600
27.015
Sham. Sun. & L. RR
Six and seven deb. scrip
Six p. c. conv. adj. scrip
80,300
11,657,799
3,007,730
Floating debt
Receiver’s obligations..
2,747,911
Bonds and morts. on real est..
803,447
[ 180,464
803,447
180,464
654,680
149,717
126,143
6,402,840
Coal & Iron Company—
Divisional mortgage bonds &
bonds & morts. on real est.
931,454
Floating debt
Receiver’s obligations
102,188
9,287
232,166
7,523,959
9,564,735 2,608,402
Gross.
$84,319
113.227
$68,140
190,861
44,123
108,649
$1,035,897
3,457,555
$540,624
1,557,135
369,482
1,269,293
38,570
92,065
$532,226
$1,234,048
2,905,452
579,709
1,066,721
1,534,105
825,253
237,706
Net.
$125,582
343,274
75,671
215,750
678,151
2,103,397
Steamships to Galveston.—The Morgan Steamship Com¬
to withdraw its line between New York and
present on account of the lack of business.
Freight for Texas by the Morgan Line will be sent from New
Orleans to Galveston by rail, which will be a good thing for
the railroads.
17,088,694
503,962
.
Tot. fixed charges per Recv’rs statement, Sept.,’84.16,584,732
Add to equal amount given in Receiver’s state¬
ment of January, ’85 (taxes, etc.)
289,721
Tot. fixed
$164,140
320,822
68,992
168,138
1883
,
Net.
pany has decided
Galveston for the
7,523,959
Less interest and div. on stocks and bonds owned.
October—
So. Pac., North Div’n..
So. Pac., South Div’n*..
Sa. Pac. of New Mexico.
So. Pac. of Arizona.....
Jan. 1 to Oct. 31—
So. Pac., North Div’n...
So. Pac., South Div’n*..
So. Pac. of New Mexico.
So. Pac. of Arizona
*Doesnot include Colorado Division in October in either year.
78,190
Debenture bonds
1884
Gross.
.
5,945,707
Schuylkill & Lehigh RR
....
Southern Pacific.—The official gross and net earnings in
October, and for ten months, were as follows :
the month of
Tennessee State Finances.—The message of Gov. Bate to
the
Legislature had the following in regard to State finan¬
“The Comptroller’s and Treasurer’s reports show the
amount of receipts from all sources for two years ending
December 19, 1884, inclusive, to be $2,346,353, which includes
a balance of $246,790 turned over to Atha Thomas, Treasurer,
ces:
charges as per Receivers’annual report. 16,874,453 2,603,4C2
Pittsburg Fort Wayne & Chicago.—Stockholders of the
Pittsburg Fort Wayne & Chicago Railway Company met in
the building Nos. 19 and 21 Nassau Street, in response to a call
by the President, L. H. Meyer. About one half of the cap¬
ital stock was represented. The purpose of the meeting was
to discuss means for readjusting the relations between this
by the M. T. Polk investigating committee.
This total also
includes the total net amount of revenue collected and paid
into the Treasury by the State’s attorneys on back-tax collec¬
tions, amounting to $157,401. This back-tax account is a source
revenue upon which we cannot rely so much in future, in¬
asmuch as a large portion of such taxes collectible have al¬
ready been collected and turned in.'".'
“The disbursements for the two years ending December 19,
1884, amount to $1,701,139, leaving a balance in the Treasury
at that date of $645,214.
This balance ($645,214) includes
$139,473 of new issue of Bank of Tennessee certificates and old
issue Bank of Tennessee money, which leaves $505,741 in ac¬
tual available funds in the Treasury, less $21,141 in contro¬
versy in the Mechanics’ (or Mechanics’ National) Bank of
of
and the Pennsylvania Railroad Company.
The
Pennsylvania Company now holds $9,000,000 of the special
stock issued for betterments, and the original capital stock of
the Fort Wayne road is $19,700,000.
It is proposed by some of the principal stockholders of the
Fort Wayne road to settle the differences between the two
companies permanently by exchanging their stock for new
bonds of. the company to be guaranteed by the Pennsylvania
Railroad Company. This will give the Pennsylvania Com¬ Knoxville.
“THE FUNDING BOARD.
pany absolute possession of the leased road and make the pres¬
ent stockholders of the latter simply bondholders.
“The Funding Board,'’ he says, “began its tedious and labori¬
This plan
was discussed, and the following named gentlemen were ap¬
ous operations in July, 1883.
Since that time, as will fully
pointed to carefully consider the matter and report at a future appear below, the total bonds funded amounted to $8,090,215,
meeting of the stockholders: L. Von Hoffman, P. Geddes, P. leaving unfunded to date of report (January 1,1885), $20,695,851.
D’Home, T. D. Lincoln and W. F. Whitehouse. The stock of Based on this calculation it will be seen that, upon the theory
the Fort Wayne road is in the hands of about 2,000 persons.
that all of the bonds are presented for funding, the State in
the end will have to pay $492,399 interest annually on the
Pittsburg Junction.—In the application to the New York whole amount of the State’s indebtedness, and in proportion
Stock Exchange the following statements are made : Organ¬ as the bonds are
annually funded, unless some of the out¬
ized December 21, 1881.
By articles of consolidation and standing obligations should be otherwise disposed of. For
merger entered into between the Pittsburg Local Railroad those already funded the State has to pay annually $154,140
Company and the Pittsburg Junction Railroad Company. The interest.
former company was incorporated under the free railroad law
I beg, however, to submit as explicitly as I can the amount
of Pennsylvania, September, 1880, and the latter company was of
original indebtedness absorbed by funding the old bonds
incorporated under the same law, August 6, 1881.
into new settlement bonds, together with the amount of the
Route.—From Laughlin Station,on the Baltimore & Ohio Rail¬ latter issued in lieu thereof. The
following statement w ill show
road, to Bennett’s Station on the Pittsburg & Western Railroad. the amount of bonds funded under the act of March 15. 1883:
From Negley’s Run to the confluence of the Alleghany and
STATE DEBT PROPER—6 PER CENT RONDS.
Monongahela Rivers, and thence to the city line in the Thir¬
tieth Ward of the city of Pittsburg, a distance of 16 miles. Total, 517 bouds. $1,000 each
$517,000
Interest on the same funded
250,780
Five miles completed and in operation.
The assets and liabilities July 1, 1884, were as follows :
company
“
Assets.
Franohis’s and
property
Cash
Real estate
Equipment (ottice)
Contingent fund
Pitts. & West. RR. Co..
Construction
Liabilities.
$720,005 Capital stock,
732,312
150,080
302
339
1,475
1,419,650
S960.000
do
do
preferred
480,0( 0
First mortgage bonds
1,140,000
Bills payable
20.00 >
Vouchers and payrolls.
122,911
Unclaimed wages
67
1.182
Bonds.—Fust and only issue. Number of bonds issued,
1,440, amounting to $1,440,000. Date of issue July 5, 1882,
maturing 40 years from date, or July 1, 1922. Par value of
each bond, $1,000.
Series 1 to 1,440 inclusive. Coupons for 6
$767,780
184.266
Net amount
Amount “certificates” taken up
$583,514
3,466
Total net amount 6 per cents funded
For which have been issued—
549 settlement bonds, bearing 6 per ct. interest, $!,000 each.
331 settlement bonds, bearing 6 per cent interest, $100 each.
Certificates
$586,980
common.
..
Rents
Total amount
Amount deducted (war interest)
-
Total net amount issued 6 per cent
bonds
549,000
33,100
4,880
$586,980
122
.
f
•.
—
-
THE CHRONICLE
5 PER CENT BONDS.
White “A” and “AA" renewed. 258 bonds, $1,000
White, no letter, 11 bonds, $1,000 each
each
$269,000
Total, 269 bonds, $1,000 each
on the same funded
COMMERCIAL
127,834
Total amount.
Amount deducted (war interest)
$396,838
Net amount
Amount “Certificates”
$317,470
444
79,367
taken up
$317,914
Total net amount 5 per cents funded
For which has been issued—
310 bonds, bearing 5 per cent interest, $1,000 each
71 bonds, bearing 5 per cent interest, $100 each
310,000
7,100
815
Certificates
$317,914
Total net amount issued 5 per cent bonds
RAILROAD BONDS—THREE PER CENTS.
$622,000
White “B622 bonds. $1,000 each
White “C.” 86 bonds, $1,000 each
Green “F,” 438 bonds, $i,0.')0 each
Green “B,” 62 bonds, $1,000 each
no
Cimtnxmial
258,000
11,000
Interest
Green,
rvoL. xl.
■
■
8H.OOO
438,000
62,000
172,000
205,000
letter, 172 bonds, $1,000 each
bonds, $1,000 each
Compromise, 2,366 bonds, $1,000 each
Compromise, 5S0 bonds, $500 each
White, no letter, 3 bonds, $1,000
White “D,” 205
2,366,000
290,000
3,000
$4,244,000
832,307
Total 4,535 bonds
3praes.
EPITOME^
January 23, 1885.
past week has witnessed a marked abatement of that
Friday Night,
The
speculative spirit and confidence in staple products with
which the new year opened. The failures noted in our last
were followed by rumors attacking well-known names prom¬
inent in financial circles, and although these rumors were not
confirmed in a single instance, distrust became general an d
prices fell off almost uniformly where they had received an
impulse from speculative action. The obstacles to railway
and telegraphic communication which were felt at the date
of our last have'been removed, but the weather has become
severely cold, especially in the Northwest, presenting an obsta¬
cle to commercial activity.
Troubles with striking operatives
have been less serious, but agitations on the subject of wages
continue.
The
speculation in lard futures has at times shown con¬
activity, but with some variableness the course of
Total amount
$5,076,307
prices
was
towards a decline, and last evening the close was at
Amount deducted (the same having been funded under 60-6
act)
1
$1,627,638 an important decline from the figures of the previous Friday.
Net amount
$3,448,668 To-day, however, there was some recovery, ^nd the close was
Amount “certificates” taken up
6,421 at 7*10c. for
February, 7*18c. for March, 7*25c. for April,
Total net amount three per cents funded
$3,455,090 7*34c. for May and 7*40c. for June.
Spot lard has been rather
tMany of these bonds were funded under the 60-6 act of dull and unsettled, but closes steadier; 7@7‘05c. for prime
1882. by which they were reduced forty cents on the dollar,
leaving sixty cents on the dollar of original amount to be city, 7*15@7,20c. for prime Western and 7*40@7*50c. for refined
Pork closes dull at $13@$13 50 for mess
for the Continent.
funded under act of 1883J.
For which we have issued—
and $15 @$16 for clear.
Bacon remains nominal at 63^@7j^c.
3,347 bonds beariog 3 per cent interest, $1/00 each
$3,347,000
cut
have
Pickled
meats
been less active at 6}^@6%c. for
983 bonds bearing 3 per cent interest, $100 each
98,300
Certificates
9,790
bellies, 5%@5^c. for shoulders and 8?£@93^c. for hams.
$3,455,090 Beef remains nominal. Beef hams are firmer at $20 per bbl.
Total.3 per cent bonds issued
“From the above statement it will be seen that the debt on Tallow has been
firm, but closes quiet at 6^c.
Butter has
‘new settlement bonds,’ upon which the State is now paying
been steady and State creamery is quoted at 23@ 86c.
Cheese
interest—deducting difference between certificates taken up
is steady at 9@ 13%c. for State factory.
and certificates issued—is as follows :
The following is a
Bix per cent bonds
$582,100 comparative summary of aggregate exports from October 27
Five per cent bonds
317,100
Interest
on
the
same
funded
Three per cent bonds
“
From the above it will also be
taken up
3,445,300
that there has been
seen
in—
8lx per cent bonds and certificates
Add amount deducted (war interest)
$596,980
195,660
Total
There has been retired in 5 per cent bonds and certificates..
Add amount deducted for war interest
Total amount of railroad bonds retired
Add 6 per cent bonds retired
Add 5 per cent bonds retired
79,748
.
by 50-3 act
$6,910,181
782,640
397,393
Which gives amount of original debt and interest retired $8,090,215
“Another feature of the financial embarrassments of the State
has grown out of the ‘ Torbett issue,’ or notes of the old State
Bank, issued principally during the
war,
which the State,
under decision of the Supreme Court of the United States,
must receive for taxes—in which, under direction of the
last Legislature, taxes to the amount of $200,000 annually are
to be received.”
The Governor expresses his gratification that the long finan¬
cial embarrassments of the State are being gradually removed,
.
and that within the limited time funding has been in progress
more than eight millions of dollars have been funded under
the act of 1883. “No like measure,” he says, “has been more suc¬
cessful in its
operations than
our
funding act of 1883, only
where there has been a positive limit to the time in ’which the
same should be funded, as in the act of 1882.
Especially is
this so when we consider that, as it is understood, more than
one-third of our bonded indebtedness is involved in the suit,
still pending in the Supreme Court of the United States, be¬
tween certain bondholders and the railroads of our State, none
of which, as is understood, has been presented to the Funding
Board,
“On
will be until the suit is decided.
July 17, 1884, the assessors returned the total number
or
of miles of railroad in the State at
1884-5.
1883-4.
11,874,900
125,019,910
12,623,200
117,119,904
Lard, lbs
71,707,777
61,924,129
Total
....208,602,487
191,667,233
Fork, lbs
Bacon, lbs
Brazil coffees have declined
748,400
Dec.
Inc. 7,900,006
Inc.
9.783,648
2^c. for both spots and futures,
sympathy with Havre advices, fair cargoes Rio being quoted
93^c. and options selling yesterday at 7*75c. for February
and 7*85c. for March.
To-day Rio advices were better, and
there was lees depression, closing with buyers at 7*70c. for
February, 7*85c. for March, 7*95c. for April and 8’05c. for May.
Mild coffees have been freely offered at somewhat easier values.
Raw sugars, after a brief period of depression, again became
active and buoyant, fair to good refining advancing to 5@5^c.
Refined firm at 6%@6/%c. for crushed. New crop Cuba mo¬
lasses, 50 deg. test, sold to arrive at 20c. Teas were more
freely offered, with speculative interest, causing a fractional
decline.
To-day 90,000 lbs. standard Japans at 23%@24c.
for March, 24%c. for April, 24%c. for May and 25c. for June.
Kentucky tobacco has been less active, and though prices
are nominally unchanged, there is an unsettled feeling, with
the tendency somewhat towards easier figures. Stock, how¬
ever, show no accumulation at this point.
Seed leaf has been
more freely offered, and the sales for the week have been 1,589
cases, as follows ; 339 cases 1880 crop, Pennsylvania, 8)^@9c.;
250 cases 1881 crop, do., 5@llc.; 200 cases 1882 crop, do., 10@
16c.; 400 cases 1883 crop, do., 714'@16c.; 200 cases 1883 crop,
New England, 13@35c., and 200 cases sundries, 5@28c; ; also,
350 bales Havana, 77^c.@$l 15, and 200 bales Sumatra $1 20
@$1 60.
*
'
Metals have shown little spirit either in trade or specula¬
tion. At to-day’s Exchange iron was dull but steady at $16@
$16J^ bid and $16%@$17 asked; transferable notices (January
delivery) issued at $16^. Tin quiet but firm at 17*15@17^c.
spot, 17@17*30c. futures; 10 tons January sold at 17*20c.;
transferable notices issued at 17*20c. Tin plate dull and
heavy at $4 40 asked ; transferable notices issued at $4 30.
Copper steady at ll*05@ll*20c. Lead steady at
Spelter firm, closing
domestic, 4‘30c. bid for foreign.
stronger at 4*40@43^c. for domestic; 50 tons domestic, Feb¬
ruary, sold at 4*423^c.
Ocean freights were quite active early in the week.
Grain
and petroleum vessels were in demand at rather better rates,
but in the past few days the renewal of speculation in the
grain markets has checked shipments and weakened rates.
in
at
2,094, of an aggregate as¬
Their average value per mile
for this year was $16,400 17; increase of mileage over assess¬
ment of 1883, 62 miles; increase of value over assessment of
1883, $2,802,871 61; increase of mileage over last Comptroller’s
report, 71 miles; increase of value over last Comptroller’s report (made in 1882), $7,334,070 72.
“Now, if to the total value of taxable property in the State in
1884 ($226,844,184), we add the aggregate assessed value of
railroad property in the State in 1884 ($34,350,170 84), it brings
up the total valuation of property in the State to $261,194,854 84, which largely exceeds any other year since 1876, thus
showing that our State, after her long travail from social, po¬
litical and financial trouble, is passing from under the clouds
of depression into the sunlight. The general tendency of this Late engagements include grain to London, 334d.; Baltimore
increase, I am happy to conclude, will in time act as a relief to Cork for orders, 4s. 6d., and refined petroleum, Philadel¬
to the burden of taxation.”
phia to Antwerp, 2s. 3d.@2s. 43^d.
sessed value of $34,350,170 84.
‘
to Jan.17:
$782,610
$317,914
Total
$397 393
There has been retired in 3 per cent bonds and certificates.. $3,455,090
Add 50 per cent deducted, one-half of original bonds
3,455,090
.
siderable
January 24,
THE CHRONICLE.
1885.]
COTTON.
Friday, P. M., January 23, 1885.
The Movement of the Crop, as indicated by our telegrams
from the South to-night, is given below.
For the week ending
this evening (Jan. 23), the total receipts have reached 93,911
123
In addition to above exports, our
telegrams to-night
the following amounts of cotton on
shipboard, not
us
at the
which
receipts since the 1st of September, 1884, 4,051,697 bales, against
3,862,207 bales for the same period of 1883-84, showing an
increase since September 1, 1884. of 189,490 bales.
Mon.
Sat.
Receipts at—
Galveston
343
Indianola, Ac.
1,357
Mobile
Wed.
1,211
....
....
New Orleans...
Tues.
•
Thurs.
245
1,799
•••
Fri.
....
Total.
881
....
•
•
•
•
....
5,8S7
1,398
3,348
13,228
5,297
4,312
3,984
36,056
1,863
878
199
729
674
1,629
2,597
1,279
5,747
2,882
9,630
103
103
652
6.19G
267
267
Florida
2,882
Savannah
5,833
Brunsw’k, Ac.
...
....
860
Charleston
1,110
1,593
1,422
....
1,910
513
1,232
1,029
cleared,
ports named. We add similar figures for New York,
are prepared for our
special use by Messrs. Carey, Yale
Sc Lambert, 89 Broad Street.
bales, against 130,951 bales last week, 133,994 bales the previous
week and 154,075 bales three weeks since; making the total
also give
On
Jan.
23,
at—
Great
Britain.
New Orleans....
42,829
Mobile
Charleston
Savannah
Galveston
16,400
France.
Total 1885.
97,606
22,218
None.
3,300
1,800
6,000
None.
Leaving
Coast¬
wise.
Foreign
None.
None.
9,200
8,603
12,077
2,000
5,030
Other ports
Other
27.015
None.
1,500
Norfolk
New York
Total 1884
Total 1883
Shipboard, not cleared—for
Stock.
Total.
3,005
3,800
2,000
2,000
2,003
95,097
20,200
6,800
13.000
718
12.795
2,900
6,000
274,247
29,859
30,743
46,899
16,278
16,600
None.
None.
None.
None.
900
1,000
None.
None.
27,045
35,218
13,523
173,392
725,332
17,907
267,721
41,678
148,896
29,200 | 33,329
6,610
223,035
107,113
11,573 | 54.533
18,051
913,225
191.275
682.564
.....
The
speculation in cotton for future delivery at this market
dull for the week under review, and the fluctua199
404
120
238
205
343
1,509
tions
in
Moreli’d C.,Ac
prices Quite unimportant. Last Saturday the business
70
70
Norfolk
2,035
2,735
1,309
2,012
2,342
1,824 12,317 was, it is said, the smallest of any day since the organization
West Point, Ac
4,6G1 of the Cotton Exchange.
4,661
Prices, with slight variations, and
357
New York
634
641
779
2,16L some
irregularity from the exceptional strength shown by
Boston
605
331
459
616
532
253
2,796
January
options, were generally drooping to the close of
Baltimore
105
105
110
58
141
118
1,626
1,225
Pliiladelp’a, Ac.
3,278 Wednesday’s business, when the early months were 3@9 points
and the late months 10@ 13 points below the previous
Friday,
Totals this week 14,639 15.018 21,752 12,290 11.009 19,203 93,911
with January only 1 point lower.
There
was
an
absence
of
For comparison, we give the foliowing table showing the week’s
total receipts, the total since Sept. 1,1884, and the stock to-night, demand, because the market was so much exposed to specula-*
tive manipulation; prices therefore gave way, although the
and the same items for the corresponding periods of last year.
1884-85.
1883-84.
Stock.
selling movement was light. Yesterday, a much better Liver-*
Receipts to
This
Since Sep.
pool market caused a demand to cover contracts and somewhat
This
Since Sep.
1885.
1884.
January 23
Week.
revived speculative confidence, upon which there was a smart
Week.
1, 1894.
1, 1883.
advance.
Galveston
To-day, with Liverpool again better, there was
5,833
9,900
416,657
32,878
500,057
77,681
some further improvement, with a brisker market and a firm
59
235
42
Ind’nola,Ac
9,633
8,031
New Orleans.
422 522
36,056 1,252,099 30,731 1,227,150 369,344
closing. As compared with last Friday, the close i3 8@ 1$
Mobile
5,747
202,851
213,953
5,132
50,059
44.279
points dearer for this crop and 4($8 points dearer for the next
Florida
6
2,882
2,734
60,150
2,200
28,968
crop. Cotton on the spot was very dull, and on Wednesday
Savannah....
9,630
651,617 11,760
580,223
59,899
89,679
103
quotations were reduced 1-16c., but were advanced l-16c. yes¬
Br’sw’k,Ac
8,927
7,014
Charleston...
459,451
6,196
8,201
360,571
37,543
65,856 terday.
To-day the market was stronger, and quotations were
267
524
81
Pt.Royal.Ac
5,028
12,125
2,505 l-16c. dearer, middling uplands closing at 11 %c.
Wilmington..
1,509
89,013
1,491
82,258
6,371
3,675
The total sales for forward delivery for the week are 363,100
70
M’headC.,Ac
102
9,271
10,826
bales.
For immediate delivery the total sales foot up this week
Norfolk
12,317 "481,072 17,607
479,667
50,216
30,702
bales,
1,026
including 100 for export, 936 for consumption,
W.Point,Ac.
4,661
256,913
597
3,349
169,499
for speculation and — in transit.
New York...
Of the above, — bales
2,461
35,735
5,029
270,621
68,633
330,979
were to arrive." The following are the official
Boston
quotations for
2,796
65,675
94,731
5,506
6,310
7,300
each day of the past week.
Baltimore
105
19,659
1,815
8,815
19,889
21,199
Pt.
Royal, Ac.
Wilmington....
....
....
....
....
....
....
....
....
....
....
....
....
....
....
....
....
has been very
....
mm mm
P • • •
....
....
....
...
•
—
...
Philadel’a.Ac
3,278
590
27,946
9,681
14,189
13,097
Total
93.911 4,051,697 104,533 3,862,207
898.724 1.136 260
^1,325 bales added as correctiou of receipts since Sept. 1.
In order that
comparison may be made with other years,
give below the totals at leading ports for six seasons.
Receipts at—
Galvest’n.&c.
New Orleans.
‘Mobile
Savannah....
Cliarl’st’n, Ac
Wilm’gt’n, Ac
Norfolk, Ac..
1885.
1884.
5,833
36,0.56
5,747
9,630
6,463
9,959
30,731
5,132
11,760
8,728
1,579
1,593
1883.
1882.
12,575
1881.
1880.
14,443
40,835
10,176
8,629
7.G77
18,142
3,993
15,531
7,277
3.585
4,202
2,754
54,398
8,978
12,814
we
13,233
58.004
10,585
15,801
17,251
8,387
All others....
16,978
11,625
20,956
15,G74
17,275
18,116
19,845
15,106
18,521
12,703
8,083
1,664
15,363
14,455
Tot. this w’k.
93,911
101,533
136,400
92,081
125,070
137,191
Since
Sept. 1. 4051,697 3862,207i 4143.631 3692,481 3964,141 3751,301
Galveston includes Indianola;
Charleston includes Port Royal, Ac ;
Wilmington includes Morehead City, Ac.; Norfolk includes West Point,Ac.
The exports for the week ending this evening reach a total
of 93,122 bales, of which 63,636 were to Great
Britain, 9,619
to France and 19,867 to the rest of the
Continent, while the
stocks as made up this evening are now 898,724 bales. Below
are the exports for the week and since
September 1, 1884.
Week
Ending Jan. 23.
Exported to—
Exports
fronir-
Great
Brit'n. France
Galveston
New Orleans..
3,139
23,889
8,952
From Sept. 1,
1884, to Jan. 23, 1885.
UPLANDS.
Jan. 17 to
Jan. 23.
Sat.
8i 316
Ordin’y
| NEW ORLEANS.
Moil Tues
8*3,0
^
Sat.
8*316
91,6
O fi
e|
TEXAS.
Tues
Sat.
Mon
Toe«
9*16
9*,«
9*,e
9*18
1
91,6
Strict Ord..
9k
9*4
9*4
9*2
9*2
9*2
9*2
9*2
9*«
Good Ord.. 10*16 10*16 10*10 103,0 105,6 105,6 105,fl 105,6 105i6
Str. G’d Ord 10716 107ie 10'i6 10**16 10**16 10*1,0 1011,6 10*1,6
Low Midd’g 1034
11
11
11
10%
10%
11
11
11
Str.L’w Alia 101516 10lo16 10*316 113,0 113,0 113,8 113,0 11316 I13,6
ioit,a
Middling... U*,6
Good Mid
11*4
Str. G’d Mid H716
.
Hl16
11*16 113,0
11*4
H&16
11*4
115,6 11516
11*2
11 *2
11*2
115,6
11*2
11*2
116,6
11*2
llU* 111* 16 11*1,6 11**16 11**16 11*1,0 11*1,0 ll**ie
Midd’g Fair 11*3,6 11*3,0 11*3,6 121,0 121,6 121,6 121,6 12*,rt 12*10
Fair
127,« 127is 127,0 12*1,0 12**]fi 1211,0 12*1,6 12*1,6 12*1,6
Wed
8%
Ordin’y. $ Dt>
Til.
Fri. Wed
8*3,0
Strict Ord..
9*4
9316
Good Ord.. 10
10*i6
Str. G’d Ord 1030
10<ie
Low Midd’g lOHie 1034
Str.L’w Mid 1078
lOl^ie
Middling... 11
11*16
Good Mid.. 11*18 11*4
Str. G’d Mid 113s
117)6
Midd’g Fairlll^
Fair
1230
878
9°16
10*8
9*16
97,fl
9*2
Th.
Fri,
9*8
9
9*16
9*0
69,0
97,6
9*2
105,e 1038
10**
10**16 10%
10*3,0 10*3,8 11
11*16
11
11*8
113,6 11*4
11*8
11*4
115l6 1130
113,6 117,6 11*2
119,6
11**
1150
11**16 11%
12
11*316 1178
121,6 12*8
1250
127,6 12*2
12**16 12%
...
Sat.
,$lb.
Strict Good Ordinary
Low Aliddling
Middling
9
Fri. Wed
10*4
105r
STAINED.
Good Ordinary
Th.
10*
99,0
105,6 103q
10**1* 10%
10*5,6
11
10*4
11*8
11*4
Mon Tues Wed
87,6
87,6
9*8
9*8
87,0
9*8
Til.
Fri,
830
87,fi
91,6
978
9*8
8*2
93,0
9*5,0 9*3,6 9*5,0
109,6 I 109,0 109,0 10*2
;
11*18
113,6 11*4
115,0 113a
117,6 11 *2
I19,a
1150
11*1,3 11%
12
121,6 12*8
1250
1211,0 12%
9*5,0 10
109,0 10%
Exported to—
Conti¬
Total
nent.
Week.
Britain. France
300
3,439
8,060
40.901
132,623
7,470
430,305 206,209
Mobile
Great
Conti-
15,578
nent.
MARKET AND SALES.
*
Total.
53,002
193,185
225,134
881,708
16,278
700
The total sales and future deliveries each day during the
week are indicated in the following statement. For the con¬
venience of the reader we also add a column which shows at a
glance how the market closed
on same
days.
Florida
Savannah
3,603
700
Charleston *...
5,456
5,017
Wilmington...
3,356
Norfolkt
11,896
4,875
New York
Boston
Baltimore...
11,896
667
787
.
Philadelp’a.&c
4,303
10,473
3,350
5,79(>
......
11,332
787
4,521
4,524
2,111
2,111
158,915
138,987
47,739
265,738
213,3/0
75,186
97,589
37,345
SALES OF SPOT AND TRANSIT.
11,699
22,259
188,785
129,906
12,210
6,375
27,046
25,670
103,302
3,050
31,527
3,816
281
359,399
291,152
59,999
297,803
373.718
75,467
132,136
41,161
SPOT MARKET
CLOSED.
63,636
9,619
19,807
93,122
774,453 2,722,0:36
81,944 14.983 15.872 112.79U
Includes exports from Port ltoyal, &c.
+ Includesexports from West Point, &c,
621.663 2.370 9\5
Total 1883-84
*
| Con-
ICO
Total.
100
.
.
I Spec-' Tran-
port. sump ul't'n
8at..
Mon
Tues.
Wed
Ttiurs
Fri.
.
Total
Ex-
..I
sit.
145
167
68
245
167
144
68
188
188
214
214
144
..
..I
Total.
926'
The dailv deliveries given above are actually
previous to that on which they are reported.
FUTURE8.
Sales.
Delivcries.
16,200
900
72,000
45,800
1,100
1,100
56,600
61,300
111,200
1,700
1,026 363.100
6,500
delivered the
1,200
500
day
THE CHRONICLE.
124
Futures are shown by the follow¬
The Sales and Prices of
ing comprehensive table. In the statement will be found the
daily market, the prices of sales for each month each day, and
the closing bids, in addition to the daily and total sales.
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101,400
73,000
supply .......3.082,810 3,402,S.95
Liverpool
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114,000
173,000
477,000
003,000
873,839 1,143,660
304,770
319,197
29,000
46,100
227,000
60,000
88,400
166,000
•
period of 1883-84—is set out in detail in the
Q
c-
to
454,000
555,000
5%!.
0°8l.
imports into Continental ports this week.have been
58,000 bales.
The above figures indicate a decrease in the cotton in sight
to-night of 320,085 bales as compared with the same date of
1884, a decrease of 101,026 bales as compared with the corres¬
ponding date of 1883 and an increase of 14,002 bales as
compared wdth 1882.
At the Interior Towns the movement—that is the receipt8
for the week and since Sept. 1, the shipments for the week, and
the stocks to-night, and the same items for the corresponding
to
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Price Mid. Upl.,
{u
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477,000
32,000
65,000
873,839 1,143,000
364,776
319,197
40,100
29,000
511,376
614,300
473,400
597,400
2,609,410 2.805,495 2,570,136 2,582,136
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155,000
103,000
603,000
100,000
585,000
42,000
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1,150,400 1,174,300
20 1,000
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275,800
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2,500
4,320
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4.800
8,100
515,000
537,000
260,000
237,000
585,000
639,000
898,724 1,130,260
299,235
283,2V 6
4,000
14,400
bales3
Continental stocks
American afloat for Europe.
United States stock
United States interior stocks..
United States exports to-day..
Mo-r
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48,000
3,082,810 3,402.895 3,1.94,430 3,050,912
visiblesupply...
.
60m
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114,000
2,450
40,000
3,700
50.000
56,000
898,724 1,130,200
283,2.86
299,235
4,0 j0
14,100
Of the above, the totals of American
Liverpool stock
m
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510
2,090
150,000
6,000
50,000
10,000
8,000
1.124,400
Total European stocks
India cotton ailout for Europe.
73,000
Amcr’n cott’n alloat for Eur’po> 639,000
Stock in United States ports ..
Stock in IT. 8. interior towns..
United States exports to-day..
40,400
12,200
American—
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354,400
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341,400
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674,700
2.209
3,400
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3,800
153,000
<Xj
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898.500
3, TOO
40,300
1,100
184,000
4,000
37,000
0,000
5,000
i-§2
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2,600
67,100
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Stock at Havre
Stock at Marseilles
Stock at Barcelona
Stock at Genoa
Stock at Trieste
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to
783,000
.
r
1884.
42,000
-^2 q
'
M
© •
1885.
74! ,000
be
Stock at Liverpool
>*3
£,to
*
p:
/c •
© *
75
o i
o i
to
rC
to
id ®
*
.
—.
C'P P
X
" nr
*
Ha-
Ot
to
■g
P e
rr
X
P
M
C3 X -
'
2.
*5
® ^
®
The Visible Supply of Cotton to-ni^ht, as made up by cable
and telegraph, is as follows. The Contmental stocks, as well as
those for Great Britain and the afloat, are this week’s returns,
and consequently all the European figures are brought down
to Thursday evening.
But to make the totals the complete
figures for to-night ( Jan. 23), we add the item of exports from
the United States, including in it the exports of Friday only,
n£. =
©
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following exchanges have been made during the week:
exoli. 100 Mar
cxeh. f»00 Mar
exelt. 500 Mur
exclt. 100 May
to exeb. 200 Jaii.
to
to
12 pa. to
11 pd. to
24
24
C tO 10
C3 o: c o: oc x xO 03 til X. C. C tO
Int'lutlos .sales in September, 18S4, for S. ptemlter, 158,200 ; Septem¬
ber Oetobto-, lor October, 421,S0t); S<*ptcmber-Novembei, for November
*
582,200; September-1 fecember, for December. ^07,800.
tsT’ We nave lnelutletf in the above table, and shall contiuue each
week to >;ive, the average price of futures each day for each month. It
will be found under each dav ollowing the abbreviation “ Aver.” The
average for each month for nc week is also given at bottom of table.
Transferable Orders- Saturday, ll’lOc.; Monday, ll-loe.; Tuesday,
31T5e.; Wednesday, IITOc.; Thursday, ilT5c.; Friday, ll*20e.
Mto
M
©i OO 00 --1 03 >0 03 tO CO CJi
c: MM to
•<T,
for May.
lor May.
inr April.
for June.
for May.
•05 pd. to
•15
•01
*12
cxeli. 300 Feb. for Mar.
Tliigycarky figures estimated.
The above totals show that
*
decreased during the
the old interior stocks have
week 4,099 bales, and are to-night 15,049
THE CHRONICLE.
24, 1886.]
January
bales less than at the same period last year. The receipts at
the same towns have been 5,431 bales less than the same
week last year, and since September 1 the receipts at all the
47,921 bales less than for the same time in 1883-84.
towns are
Quotations for Middling
Cotton at other Markets.-—
In the table below we give the closing quotations of middling
cotton at Southern and other principal cotton markets for each
day of the past week.
CLOSING
11 ctit. 23i
QUOTATIONS FOR MIDDLING COTTON ON —
Tuts.
Thurs.
Fri.
10%B
10% 8
10%8
1O%0
10%
10%
10%
10%
10%
10%
10%
10%
10%
1O1%0
10 34
11%
10%
11%
11%
Wednes.
.......
Galveston
109lb
...
Savannah.
Charleston
10 %’
10%
10*4
10%
10%
10*4
10% © %
10%
!0%
10%
10%
lo%
10%
1011,8
10%
11 *8
11%
11%
10%
10%
10'8
11 *4
11%
11%
10%
lO^jft '$'43 100,ft® %
10%
10%
103Q
10%
10% 8
10% 6
10%
10%
10%
10%
10%
1038
..
.
.
Wilmington..
Norfolk
Boston
Baltimore—
Philadelphia.
Augusta
Memphis
10%6
10%fi
10%,i
10%*
10 'bp
New Orleans.
Mobile
....
St. Louis
Cincinnati...
Louisville....
10%
10%
10%
10%
10%
11%
10%
11%
10%
10%
10%
10%
11%
10%
10%
10%
10%
10%*®%
10%
10%
10%
103a
io%6;
10%
10%
Receipts from the Plantations.—The
10%
following table is
prepared for the purpose of indicating the actual movement each
veek from the plantations.
Receipts at the outports are some¬
times misleading, as they are made up more largely one year
chan another at the expense of the interior stocks.
We reach,
therefore, a safer conclusion through a comparative statement
like the following.
In reply to frequent inquiries we will add
that these figures, of course, do not include overland receipts
or Southern consumption; they are simply a statement of the
weekly movement from the plantations of that part of the crop
which finally reaches the market through the outports.
RECEIPTS FROM PLANTATIONS.
'
Receipts at the Ports. St'hat Interior Towns. Rec'pts from Plant1 ns.
Week
Bmliwj—
’82-’63. ’83-’S4. ’84-’85. ’S2-
’83.j*83-’84. ’64-’S5. j’82-’83. ’HS-’B-l.J’S-l-’SS.
202,251 207,004 257.041 211 740 313,249 171,990 208,899 304,119 275.979
14
259,154 242,078 209,114 244 ,128! 343,929 198,970 291,537 272,758'293,088
21
242,109 222,510 258,774 259 1751359,748 229.539 257.221 238,329'289,343
(4
38
255,097 222,185 284,003 275 700; 374,504 267,133 271,022 237,001 322,286
Dec. 5
247,017 265,484 270.300 291 370 380,477 310,019 262,093 277,3971825,180
It
13.:.... 202,015 281,103 289,457 299 528!410,240 335,451 270,107 304,932 308,889
258,170 247,733 258,340 330 993; 423,577 303,800 295,035 201,004*280,755
20
251,923 201,086 207,893 379 8551 422,310'363,520 294,785 200,419 207,547
7..~.
Nov
44
44
-
44
44
44
9
44
i«
221,997 140,012 154,075
175,382 90,245 133,994
150,300 110,407 130,951
“
23
1:10,400 104 533
2
Jan.
93.911
047i407,974 349,488 228,789 120,270 140,043
380 2 lSj 389,8981320,785 171,983 72,169.105,291
SO 7, 907 30 \715 304,859 138,109 81,284 115,025
350, 749'300.900I298.0SO 119.182 74,718! 87,132
2.—That, although the receipts at the outports the past week
93,911 bales, the actual movement from plantations was
87,132 bales, the balance being taken from the stocks at
were
Last year the receipts from the plantations
74,718 bales and for 1883 they were
were
119,182 bales.
Amount of Cotton in Sight Jan. 23.—In the table
below
give the receipts from plantations in another form, and add
to them tine 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.
we
1881-85.
1883-84.
1832-83.
1831-32.
Receipts at the ports to Jan.23 4,051,697 3,862,207 4,143,631 3,692,481
Interior stock-i on Jan. 23 in
excess of September I
Tot. receipts from planta’tns
Net overland to January 1
Southern consumpt’n to Jau. l
Total in
280,865
281,744
334,264
355,561
January 23
115,000
123.000
130,000
100,000
will be
8*9,175
961,199 1,060,507 1,146.634
seen
as
bales.
Weather Reports by Telegraph.—1The weather the
week has been in
to 59 above.
Alabama.—It has been showery on three days of
the week, and is raining to-day.
The rainfall reached two
fifty-four hundredths. The cause for the small
receipts this week is the inclement state of the weather. The
thermometer ranged from 19 to 66, averaging 38.
Montgomery, Alabama.—We have had heavy rain on four
days of the week, and rain is falling to-day. The rainfall
reached one inch and sixty-nine hundredths. Average ther¬
mometer 38, highest 72, lowest 19.
Selma, Alabama.—It has rained on one day of the week,
the rainfall reaching three inches and forty hundredths.
The
thermometer has averaged 35, the highest being 65 and the
inches and
lowest 18.
Auburn, Alabama.—Telegram not received.
Madison, Florida.—It has rained on three days, and the
remainder of the week has been cloudy. The rainfall reached
eighty-six hundredths of an inch. The thermometer has
ranged from 26 to 77, averaging 46.
Macon, Georgia.—It has been showery on two days of the
week. Cotton on plantations is about exhausted. Average
thermometer 35, highest 68, lowest 20.
Columbus, Georgia.—We have had rain on two days of the
week, the rainfall reaching two inches and thirty-nine hun¬
dredths. The thermometer has averaged 32, the highest being
42 and the lowest 30.
Savannah, Georgia.—It has rained on six days of the
week,
the rainfall reaching one inch and eleven hundredths.
thermometer lias ranged from 29 to 75, averaging 45.
The
Augusta* Georgia.—The weather has been cold and cloudy
during the week, with light rain on three days. The rainfall
reached forty-four hundredths of an inch.
The thermometer
has ranged from 24 to 76, averaging 42.
Atlanta, Georgia.—We have had rain on one day of the
week, the rainfall reaching one inch and fifty-four hun¬
dredths. Heavy sleet storm falling now (Friday afternoon).
Average thermometer 33*4, highest 63 and lowest 15.
Charleston, South Carolina.—It lias rained on five flays of.
the week, the rainfall rea hing ninety-three hundredths of an
inch.
The thermometer has averaged 51, the highest being
72 and the lowest 50.
Stateburg, South Carolina.—Telegram not received.
Wilson, North Carolina.—We have had rain on two days
of the week, the rainfall reaching eighteen hundredths of an
inch.
Ice formed this week on four days.
Average ther¬
mometer 41, highest 70, lowest 25.
The following statement we have also received by telegraph,
showing the height of the rivers at the points named at 3 o’clock
January 22, 1885, and January 24, 1884.
Jan. 2 to
-
Feet.
Below
Above
Above
Above
...Above
New Orleans
Memphis
Nashville
Vicksburg
O
high-water mark
low-water
low-water
low-water
low-water
mark.
mark.
mark.
mark.
28
9^
O 4
27
4.1
00 CII
Inch.
4
4
2
8
3
Jan. 24, ’84.
Feet.
4
20
23
10
31
Inch,
8
9
9
11
2
reported below high-water mark of 1871 until
Sept. 9, 1874, when the zero of gauge was changed to highwater mark of April 15 and 16, 1874, which is 6-10ths of a foot
above 1871, or 16 feet above low-water mark at that point.
New Orleans
past
general severe arid rainy, ice, sleet or snow
being reported from a considerable section. This has, to some
extent, interfered with the free marketing of the crop.
Galveston, Texas.—Telegram not received.
Indianola, Texas.—Telegram not received.
Palestine, Texas.—Telegram not received.
New Orleans, Louisiana.—It has rained on four days of
the week, the rainfall reaching ninety-nine hundredths of an
inch.
The thermometer lias averaged 42.
Shreveport, Louisiana.—Telegram not received.
Vicksburg, Mississippi,—Telegram not received.
Columbus, Mississippi.—It has rained on two days of
the week, the rainfall reaching iiftv-one hundredths of an
inch.
zero
Mobile,
Shreveport
takings to
by the above that the iuercase in amount in signt
compared with last year, is 150,244 bales, the decrease
from 1882-83 is 220,307 bales, ami the increase over 1881-S2 is 334,058
It
to-night,
below
4,332,562 4,143,951 4,482,895 4.048,012
323,510
413,082
358,0 48
382,415
sight January 23... 4.805,010 1,649,360 5,025,977 4,471,552
Northern spinners’
Monday and sleet last night. Three days have been fair to
The thermemeter has averaged 19, ranging from 3 to 31.
Helena, Arkansas.—It has rained on two days of the week,
and this morning is cloudy.
The rainfall reached eighty-five
hundredths of an inch. Light snow fell this week. Cotton
is about all marketed.
The thermometer has ranged from 7
to 32, averaging 20.
Memphis, Tennessee.—The weather has been extremely
cold during the week with rain on one day, the rainfall
reaching twenty-eight hundredths of an inch. The thermom¬
eter has averaged 22, the highest being 43 and the lowest 2*7.
Nashville, Tennessee.—We have had rain on one day of the
week, the rainfall reaching eighty-eight hundredths of an
The thermometer has averaged 20, ranging from 2
inch.
clear.
383
The above statement shows—1. That the total receipts from
the plantations since September 1, 1884, were 4,332,562 bales;
in 1883-84 were 4,143,951 bales; in 1882-83 were 4,482,895 bales.
the interior towns.
for the same week
Little Rock, Arkansas.—This has been one of the most
weeks in our history. We had snow on Friday and
severe
.
Mon.
Satur.
125
India
Movement from
Cotton
all
Ports.
—
We have
re-arranged our India service so as to make our reports more
detailed and at the same time more accurate. We had found
it
impossible to keep out of our figures, as cabled to us for the
than Bombay, cargoes which proved only to be
shipments from one India port to another. The plan now
followed relieves us from the danger of this inaccuracy and
keeps the totals correct. We first give the Bombay statement
for the week and year, bringing the figures down to Jan. 22.
ports other
BOMBAY RECEIPTS AND
[Shipments this week.
Year] Or eat
Brit’n.
1885!
5,000
Shipments since Jan. 1.
! Or cat
1 Total. Britain
Oonli-\
nent.
SHIPMENTS FOR FOUR YEARS.
_
.
,
Conti¬
nent.
Total.
Receipts.
This
Week.
Since
Jan. 1.
1
4,000:
9,000:
9,000
1834122,000 25,000.47,900'j 4o,u00
1 883 j 10,000
|1(),000! 28.000
1882,17.000 1 0.00 927.OnO: 6 5.000
42,001 21,000
58,000
2-000
102,000 11.000
56.000 37,000
35.000
101 OOP
157.(.00
127X00
14 L0< 0
33,000
56,000
i 1 one
126
THE CHRONICLE
48 1
[Vol. xl;
’
According to the foregoing, Bombay appears to show a
compared with last year in the week’s receipts of
23,000 bales, and a decrease in shipments of 3S,000 bales, and
the shipments since January 1 shew a decrease of 60,000 bales.
The movement at Calcutta Madras and other India ports for
the last reported week and since the 1st of January, for two
years, has been as follows.
“ Other ports” cover Ceylon,
decrease
Tuticorin, Kurrachee and Coconada.
Shipments for the week.
Great
Conti¬
nent.
Britain.
Calcutta—
1885
Shipments since January 1.
Great
Total.
2 300
1,000
3.300
4 800
1,050
2,700
800
3,500
9,000
800
300
1,300
2,200
-
Madras300
1884
All others—
1885
1884
Total all1885
1884
Continent.
Britain.
2,000
2,0C0
3.5C0
30 J
3 JO
1,700
Total.
5.800
9.800
1,300
2,200
3.500
1,700
4,000
J/»00
5,GOO
9,GOO
l.ooo
3.000
800
3.800
12,900
800
10.600
13,500
The above totals for the week show that the movement from
the ports other than Bombay is 1,800 bales more than same
week last yean
For the whole of India, therefore, the total
shipments since January 1, 1885, and for the corresponding
periods of the two previous
follows:
years, are as
EXPORT8 TO EUROPE FROM ALL INDIA.
1885.
1884.
1883.
Shipments
to all Europe
from—
This
week.
Bombay
Since
Jan. 1.
9.0C0
5,600
All other ports.
This
week.
Since
Jan. 1.
42,000
47.000
10 6.0
3.800
This
week.
102,000
13,700
Since
Jan. L
10,000
4,000
56,000
23,500
of the
strongest elevators (one of them capable of raisng 8,000
lbs., to carry up safes, &c.) will be run for the accommodation
of the Exchange and occupants of the
building. The rent of
an
office includes
janitor’s service, steam heat and the
of gas or electric light usually
needed
If tenants desire Venetian awnings or
amount
from 8 A. M. to 8 P. M.
shades they will be put
up by the Exchange at cost.
There is telephonic communica¬
tion from the Exchange, floor to every office in the
building,
and by the same means telephonic communication to all
parts
of the city may be obtained.
Any additional wires can only
be inserted by permission of the
Exchange. Interior signs
on glass doors will be
painted for the tenants, cost to be
charged to the tenants.
Directory boards in conspicuous
places will also be provided by the" Exchange, but no signs
will be permitted on the exterior of the
building.
A Revelation
from
Lancashire*.—The following
we
take
from the Manchester Examiner:
Sir—Suffering like many others from the result of the reck¬
building of mills in the Oldham district, I have busied
myself in dissecting the Oldham share list, and in reducing to
a proper value several first class
mills, both dividend paying
and otherwise.
I take as a basis that a new fire-proof mill
can be built on leasehold land and filled with
machinery at
less
22s. per spindle. I deduct an allround depreciation of 5
per
cent .per annum, which is little enough, considering the
high
rate of speed now run.
I have selected only first class mills,
and could easily have chosen much worse cases.
My figures,
if correct, go to prove that on to-day’s cost
price of a new
mill, after allowing for usual depreciation, there is a vast
amount of money expended which has no real value whatever.
This is a question of the utmost importance to thousands of
investors, and I hope it will be well sifted.
Value,
if
N'mber1
*
’
Lost unac¬
to-day Value of mill
to¬ of y’ars Value
new
cabli ! after al lowi ng and machin¬ counted for or
day, at mill
paidindiv'ds,
depreciation
ery, as per
22.y, per
has
us above,
balance slicct. being diff. bet
spindle. run. 1
Cols. 3 and 4.
-
Total
14,600
52,600
50,800
115,700
14,000'
79,500
This last statement affords a very
interesting comparison
he total movement for the three years at all India
ports.
of
Share
capital.
.
'
Alexandria Receipts and
Shipments.—Through arrange¬
ments we have made with Messrs. Davies, Benachi &
Co., of
Liverpool and Alexandria, we now receive a weekly cable of
the movements of cotton at Alexandria, Egypt. The
following
are the receipts and shipments
for the past week and for the
corresponding week of the previous two
Alexandria, Eqypt,
1884-35.
January 21.
£62,200
71,200
63,000
68,200
86,600
85,100
66,600
85,100
63,200
75,300
73,500
years.
1883-31
1882-83
"
'
'
‘
61,600
1
Receipts (cantars*)—
This week....
Sinoe Sept. X
135,000
2,623,000
This
week.
Exports (bales)—
To Liverpool
To Continent
Total
Europe
Since
Sept. 1.
65,000
65,000
2,307.000
1,886,000
This
week.
Since
Sept. 1.
This
week.
Since
Sept. 1
11,000 218,000
3,000 91,000
5,000
14,<.001309,000
9,000 241,000 11,000 202,000
4,000 163,000
76,000
7,000 153.000
4,000 49,000
*A. oantar is 98 lbs.
This statement shows that the receipts for the week end
ing Jan. 21 were 135,000 cantars and the shipments to al'
Europe 14,000 bales.
1
Manchester Market.—Our report received from Manchester
to-night states that the market is dull. We give the prices for
fco-day below, and leave previous weeks’ price for comparison.
1884-85
32* Cop.
Twist.
d.
1883-31.
8H lbs.
Shirtings.
d.
s.
Nov21 3 h> @ 9
5
“
28 39J65* 9*e 5
Dec. 5 3916® 9*8 5
“
12 8*2 ® 9*8 5
“
5
19 3 <s ® 9
"
26 83s m 9
5
Jan. 2
9ij6 5
“
9 8'bfi^
5
“
16 3*8 @ i*
5
“
23 3*ift—Si0 ir 5
d.
9
9
9
8
7
7
s.
®7
®7
®7
-37
27
7*207
7Sa37
7*s®7
7*e$7
d
2
2 4>
3
1
0
O
0
0
O
0
Oott’n
Mid.
Upl Is
d.
32*
Cop.
8*4 lbs.
Iwisi.
d.
54*
d.
Shirtings.
s.
d.
s.
d.
7 ® 7 18>
7 ®7 1*2
7
iio
8
@7 2ia
5 *2 $ 6 11 *2
5*2 3)6 1183
8*2 it 9*6 5
51*16 8*8 a 9*8 5
ol*ie 8*8 ® 9ie 5
578
5
8916® 9
5i*,6 ft*8 ® 878 5
ii
8*8 ® 87s 5
6
5 7
8*s ® 9
5 7
51*16 88j ® 9
578
8»b ® 9ie 5 10
515,« 8 *2 ® 9
5 10
New York Cotton Exchange.—It
®7
1
1
®7
H>7
2*5
Cott'n
Mid.
Uples
d.
5151B
6
18
57s
5i»le
51*16
513l6
5 o16
57s16
has been
officially an¬
Exchange that a contract for the sale of the
property now occupied by the New York Cotton Exchange
has been entered into with Mr. Moss J.
Phillips of Brooklyn,
for the sum of $165,000 cash, the
Exchange to retain the use
of the premis?s and receive the rents till the first of
May next,
at which time the new Exchange will be
ready for occupa¬
tion.
The new building is thoroughly fire-proof, with
plate-glass
windows, marble wainscoting and marble tiling in halls on
lower floors, hard wood finish in the office stories.
Its loca¬
tion and construction make it
probably the best lighted and
ventilated building in the city. The artificial
lighting is to be
by gas. or electricity, at the option of the occupants. The
heating is by the most approved steam appliances. The en¬
trances to the building are on
Beaver, William and Pearl
the
staircase
at
per
and
the
corner
to
main entrance to the
Exchange
Beaver and
William streets.
of
the
lobby
room
The
and visitors’ gallery and up¬
stories is wide, easy and conveniently placed.
Three
£35,400
42,600
£93,300
71,750
73,550
67,800
37,700
,
43,000
51,900
£48,000
49,100
38,700
52,600
64,300
60,900
89,750
103,100
44,500
32,050
47,100
25,600
42,250
54,900
47,600
45,600
24,100
48,100
54,100
78,100
35,100
34,600
£463,250
£567,700
90,950
95,000
72,050
100,700
G3,f>00
51,100
40.000
53.600
i
£57,900
29,150
35,850
24,800
39,050
37,900
47,500
48,200
43,000
According to the above figures, the accounts of 12 modern
mills of the best construction, whose united
paid-up capital
amounts to £567,700, represent their plant as worth £468,250
more than it would realize on a fair
sale, to say nothing of a
forced sale. This is, in my opinion, the present condition of
most of the limited concerns in the Oldham district, and under
such circumstances it is the duty of the directors, acting as
trustees, not only for the shareholders but for the loanholders,
to pay no more dividends until the value of the buildings and
machinery as stated in the balance sheets more nearly ap¬
proaches the truth.—lam yours, &c.,
A Spinner.
Jute Butts, Bagging, &c.—The demand for bagging has
been rather moderate, and buyers are
showing less interest in
the market.
Orders are still coming in, but they are of a
jobbing character, and only to fill present wants of the trade.
There is no change to note in prices, though a weaker tone is
shown by some sellers, and it is probable that a shade under
present quotations could be done on a large parcel. The close
is easy at 8%c. for 1J4 lbs.,
for
lbs., 10c. for 2 lbs. and
10?4'c, for standard grades. Butts have sold in small lots
quite freely, and some 3,000 bales have been placed atl/gC.
for paper grades and 2l4@2J£c. for bagging qualities, with the
market closing at these figures.
5%
nounced to the
streets,
"
11
10
10
9
10
10
10
9
10
9
9
7
Comparative Port Receipts
—A
and
Daily Crop Movement.
comparison of the port movement by weeks is not accurate,
the weeks in different years do not end on the same day of
the month.
We have consequently added to our other standing
tables a daily and monthly statement, that the reader may
as
constantly have before him the data for seeing the exact relative
movement
for
the years named.
The movement since
September 1, 1884, and in previous years, has been as follows:
Monthly
Receipts.
'■
Year Beginning September I.
1884
1883
1882.
i
'
-
313,812
345,445
326,655j
October.. 1,090,385 1,046,092
930,5841
Novemb’i 1,122,161 1,030,380 1,094,697*
Deoemb’i 1,101,21 ill,059,653 1,112,536
Sept’mb’r
1881.
1880.
1879.
j
429,777
45S, 178
963,318
974,043 1,006,501
996,907 1,020,802
853,195
333,613
833,492
942,272
956,464
Total yeai
3.662,205 3,479,937 3,514,473 3,253,322 3,454,099 3,120,871
i
Perc’tage of tot. port
5 3*80
62 39
71 75
63 93
58-38 i
receipts Dec. 31..
.
This statement shows that up to
Dec. 31 the receipts at the
ports this year were 182,263 bales more than in 1883 and
147,732 bales more than at the same time in 1882. By adding
the above, totals to December 31 the daily receipts since
that time, we shall be able to reacli an exact comparison of
the movement for the dilferent years:
to
January 24,
THE CHRONICLE.
1885.]
127
i
1884-85.
1883-34.
1882-83.
1881-32.
1880*81.
1879-80.
Tot.Dc.31 3,602,205 3,479,937 3,514,473 3,253,822 3,454,099 3,120,871
Jan. 1....
8.
19,952
10,259
49,366
20,294
15,776
“
2....
19,022
“
3....
23,206
“
4..».
“
5....
6....
18,203
18,888
8.
35,488
23,330
8.
30,208
24,32S
20,021
8.
17.951
9,986
39,653
8.
23,424
11,808
13,397
16,773
25,039
17,286
30,790
8.
24,056
29,191
33,895
34,713
21,610
16,348
15,187
12,302
31,380
12,290
19,977
7....
8....
25,885
21,985
15,947
14,637
44
9....
32,314
16,385
44
10....
21,987
14,734
14,12)
15,135
19,749
26,949
25,776
23,512
8.
23.752
44
44
44
14,490
41
11....
S.
44
12...
44
13....
25,036
20,004
44
14....
24,744
18 021
S.
4-4
15...v
16....
10,924
28,206
14,639
17,404
31,999
19,691
44
44
17....
44
18.
44
19
44
20....
44
21....
44
22....
44
23....
S.
...i
15,018
21,752
12,290
11,009
*20,528
17,926
23,40)
37,231
8.
13.056
8.
20,036
22,132
21,127
13,509
23,777
24,347
16,082
15,170
28,605
15,435
20,346
30,896
8.
24 356
16,377
23,886
18,192
8.
15,733
18,843
21,176
8.
18,532
31,395
17,510
13,705
20,568
17,372
8.
23.706
23,519
22,906
19,929
17,551
34,762
20,411
17,601
8.
13,601
15,735
26,087
19,046
19,790
26,933
35,498
23,976
8.
17,369
35,455
22.105
17,733
21,312
36,187
4,051,697 3,823,899 4,078,331 3,633,505 3,353,704 3,614,110
Percentage of total
78-84
67-76
76-97
port rec’pts Jan. 23
65-61
72-26
1,325 bales added
as
correction of receipts at Norfolk
This statement shows that the receipts since
since
Sept. 1.
Sept. 1
up
to
to-night are now 227,798 bales more than they were to the same
day of the month in 1884 and 2o,631 bales less than they were
to the same day of the month in 1883.
We add to the table
the percentages of total port receipts which had been received
to January 23 in each of the years named.
The Exports
op
Cotton from New York this week show
of
Cotton (bales) from New York since 8ept. 1.1884.
Exported to—
Week
ending—
Jan.
Jan.
Jan.
1.
8.
15.
Same
Total
since
! Jan.
period
prpvi'us
.
Sept. 1.
22.
7,091
Other British ports
Total
to Great Britain
2,0)3
4,429 2I5.987| 202,905
446
27,383 17,225
9,094
9.662 13,503
4,375 243,370 220,130
1,831
Total French
621
66
713
1,831
637
75
226
748
329
713^
Other ports
1,014
Total to North. Europe
1,345
Bremen
Hamburg
Bpain.Op’rto,Gibraltar,&c
All other
436
Total
436
Spain, &o
Grand Totai
are
the
26,295
667
25,241
751
j
667
27,046
1,375
602
15,994
33,364
2,952
1,812, 1,968
44,35 4
20,023
28.585
4,029
2,631!
94,212
66,117
97
...1
1,497
7,593
2,967
2,232
9,090
5,193
619:
97
12,706 14,475
The Following
New York, Boston,
4,445
550
i,345
550
1,345
17,397111,332
Gross Receipts
25,241
17.539
373,718 316,717
of
Cotton at
Philadelphia and Baltimore for the past
week, and since September 1. 1884.
New York.
Receipts
from—
This
week.
Texas
This
Sept. 1.
1,001
1,770
So. Carolina..
No. Carolina..
471
Virginia
4,728
Since
This
Since
Sept. 1.
Sept. 1. |
week.
Sept. 1.
180,037
141,202
4,092
31,050
900
900
3,352
7,508
10,700
aud 110 Sea Island
To Grimsby, per steamer
To Barcelona, per barks
1,205
2,440
4,119
Formica, 1,308 Upland
1,717
4,644
Harbinger. 4,614 Upland
Amiral Charner, 962 Upland
2,270
Savannah—To Liverpool, per steamers Deuteros, 3,865 Upland
and 350 Sea Ts'and
Dunedin 3,871 Upland
per bark
—
Caleb, 1,677 Upland
9,763
3,624
1,035
To Bremen, per steamer Budapesth, 3,624
Upland
Galveston—To Liverpool, per bark Liana, 1,035
Wilmington—To L-’verpool, per bark Gustave Metzler,
1,418
brig Fidelia, 1.584
3,002
Norfolk—To Liverpool, per steamer Anerlev, 4,03 2
per
ships Cumberland, 5,654
Servia, 4,571
per bark
Maggie Moore, 2,732
17,039
To Havre, per bark Rosa, 1,750
1,750
per
—
West Point—To Bremen, per steamer Bertie. 4,609
Newport News—To Liverpool, per steamer Auerlejr, 696
Baltimore—To Liverpool, per steamers Caspian, 1,888
4,600
To Ant werp. per steamer Suff >lk, 1,999
Boston—To Liverpool, per steamers Bulgarian, 660 ...Cata¬
lonia, 506 ...Kansas, 2,493
Palestine. 828
Philadelphia—To Liverpool, per steamer Lord Clive, 1,717
1,999
696
Oranmore, 612
Total
The
2,500
4,487
1,717
159,212
particulars of these shipments, arranged in
usual
our
null j
Liver- Grims-
New York.
N. Orleans.
Mobile
Charleston.
3avannab..
Galveston
Bremen dam J
Genoa
dc Ham- AntBarceand
by. Havre, burg. werp. Iona. Trieste.
446
667 2,4 77
1,968
1,3 45
pool.
4,429
57,862
14,261
4.119
1,717
......
......
7,150
1,205
......
m
m
mm
m
m
4,64 4
..
2,410
..
....
8,631
3,624
13,337
1,035
3,002
.
1,750
...
West Point
Newport N.
6 >6
Baltimore..
Bostou
2,500
4,487
1,7 17
PhUadelp’a
Total.
11.332
82.9 L8
4,119
2.270
9,763
1,0 35
Wilmington 3,00 2
Norfolk"
17,039
18.789
4,600
4,600
1,999
696
4.499
4,487
1,717
312
3,930
3 757
Tennessee,&o
Foreign
2,401
40,733
4,472
10,233
52,988
49,308
100,091
210
8,305
225
9,102
500
21,210
926
24,008
347
38,207
1
14*183
*|
1
303
704
321
i
2,000
15,013
*
10,000
82
28,724
259,540
1,951
03.351;
3,373
153,816
Last year...
22,938
793.337
7,252
233.193
2,557
55.037
1.510
142.423
Shipping News.—The exports of cotton from the United
States the past week, as per latest mail returns, have reached
as
rogate, 5,456.
For Sevastopol—Jan. 16-Steamer Almandine, 5 017.
Wilmington—For Liverpool—Jan. 19—Bark C. L. Weyer,
21—Bark Chariotto and Anne, 1,756.
the Southern ports are concerned, these
the same exports reported by telegraph, and
published in
the Chronicle last Friday.
With regard to New York we
include the manifests of all vessels cleared up to Thursday
are
night of this week.
Total bales.
of Montreal, 2,043
Oregon, 519
Wyoming, 852
To Hull, per steamers Martello, 359... .Salerno, 93
To Havre, per steamer St. Germain, 687
To Bremen, per steamers Main, 956
Neckar, 919
To Hamburg, per steamer Bohemia, 602
4,429
449
667
1,875
602
1,600
Norfolk—For Liverpool—Jan. 17—Bark Avoumoro, 5,220
Har¬
Jan.
Jan. 20-
Burk Blanche, 2,466.
Boston—For Liverpool—Jan. 14—Steamer Borderer. 287.
Baltimore—For Liverpool—Jan. 13—Steamer Ben well Tower, 1,903....
Jan. 15—Steamer Bryn Glas, 722
Jan. 17—Steamer Nessmore,
1,394.
Philadelphia—For Liverpool—Jan. 20—Steamer British Princess, 2,111.
Below we give all news received to date of disasters to vessels
carrying cotton from United States ports, &c.:
Acunv, steamer (Br.), from Galveston for Bremen, before reported on
lire of! Dover, Eng.
The lire was extinguished by the 20th. Tho
undamaged portion of the cargo has been discharged.
The
steamer leaks a groat deal and tho lide outers her engine room.
The cargo includes 4,715 bales of cotton.
Benwei.l Tower, steamer (Br.), which sailed from Baltimore. Jan. 17,
for Liverpool, returned on the 18th with her cargo oil lire.
Tho
lire Wiis extinguished.
Ten hales of burned cotton wero dis¬
charged. No other damage; vessel s tiled on tho 20th.
Cotton freights the past week have been as follows:
Satur.
sail...rf.
sail
1
c.
.
sail
...
7.0*
Bremen, steam..c.
Do
....
....
Havre, steam—c.
Do
Mon.
18*
Liverpool* steam d.
Do
783,227
2,100;
ForPasages -Jan. 19—Brig Ban Pietro, 1,000.
Savannah—For Liverpool—Jan. 17—Steamer Iona, 1,2)3.
For Barcelona—Jan. 17 —Bark Jon a, 700.
Charleston—For Grimsby Roads, for orders-Jan. 17—Steamer
09,007
28,231
So far
Galveston—For Liverpool—Jan. 17—Bark Fritbjof, 1,951.
For Fleetwood—Jail. 17—Bark Fruen. 1.188.
For Vera Cruz—Jan. 17—Steamer Whitney, 300.
New Orleans—For Liverpool—Jan. 19- Steamer Horn Head,
bark Sei Amici, 2,030.
For Havre—Jan. 19—Bark Cambusloon, 4,101.
For Bremen—Jan. 19-Steamer Marchioness, 5,50).
!
This year...
159,212 bales.
5,090 16,678 16,226 5,592 3,475 3,785 159,212
Below we add the clearances this week of vessels carrying
cotton from United States ports, bringing our data down to
the latest dates*.
i
*
......
3,282
North’n ports
190
This
week.
3,253
899
•
Since
1,007
8,797
03,517
16,920
161,919
Baltimore.
—
127,010
Mobile
Florida
Iphiladelph’a
Boston.
week.
7,033
..
|
Since■
5,057
3.003
New Orleans.
14,261
7,150
year.
8,775 13,503
887
!
Havre
Other French ports
.
Havre, per ships Shelburne. 3,972
Thomas N. Hart,
4,853
per barks Carlo, 2,383
Themis. 3,050
To Bremen, per steamers Cor >ua, 4.750
Victoria, 2,400..
To Barcelona, per bark America. 1,205
To Genoa, per steamer Espanol, 2,440
Mobile—To Liverpool, per ship Northumbria, 4,119
Total.. 108.366
Liverpool
8avannah
To
a
decrease, as compared with last week, the total reaching 11,332
bales, against 17,397 bales last week. Below we give our usual
table, showing the exports of cotton from New York, and their
direction, for each of the last four weeks; also the total exports
and directions since September 1, 1881, and in the last column
the total for the same period of the previous year.
exports
200
Charleston—To Liverpool, per bark Australia, 1,607 Upland
Total
*
1,143
1,145
Australian, 6,818
Norfolk, 5,121
Pedro, 1,900
Regius, 10,000—Saturnina. 5,800
ner
Texan, 8,625
Rliips Lord Lytton, 4,050
Nettle Murphy, 4,466
per
barks Addie H. Cann, 2,193
Queen of India, 3,450....
8.
26,380
8.
Total bale*.
825
To Rotterdam, per steamer Leerdam, 825
To Autwerp, per steamers De Ruyter, 335
Waesland, 808
To Genoa, per steamer Mercia, 1,145
To Trieste, per steamer Mercia, 200
New Orleans—To Liverpool, per steamers American, 3,095
c.
....
!32^'38*
8ail....c.
Amst’d’m, steam.c.
sail.-.c.
Do
Reval, steam—d.
Do
sail
c.
Barcelona, steam, c.
Genoa, steam—c.
Trieste, steam...c.
Wednes
Thurs.
7, 4*
~e4*
7C4*
....
....
....
5lu-
510*
5lb*
....
....
....
71G*
asa-hft*
r%^7l 6*
....
Hamburg, steam.c. 516-ll32* 516-1
Do
Tues.
....
....
5i«‘
916*
...
....
Fri
7C4*
....
5I0*
....
....
5ie*
•
...
501
....
]4 £^30*
50f
....
*4 3 *32*
....
....
14 & 9ao*
*4 a>932*
....
lot
....
14®932
....
14^932*
V
°32*
932*
932*.
'L4v
Antwerp, steam..c. 53?~Utf4* 632-)
*
Compressed.
t Per 100 Lbs.
....
4 of
....
....
4o1
....
....
45f
....
k®932^
14'a'9324r
....
....
....
a4®932*
j4®932*
V
14 5'932*
1^*
932*
9.52*
932*
14®902*
0,4*
V
THE CHRONICLE-
128
Liverpool.—By cable from Liverpool,
have the following
we
statement of the week’s sales, stocks, &c., at that port.
add previous weeks for comparison.
Jan. 2.
Jan. 9.
*67,000
Actual export
'17,000
*43,000
604,000
417,000
*3,000
*6,000
*41,000
Forwarded
Total stock—Estimated
Of which Americau—Estim’d
Total import of the week
Of which American
Amount afloat
Of which American
-
*
*194.000
*163,000
^
.
dull.
287,00'
262,00"
52,000
3,000
43,000
3,000
38,000
3,000
5,000
32,000
3,000
42,000
698,000
498,000
182,000
149,000
339,000
310,000
4,000
4,000
29,000
27.000
4,000
25.000
6,000
28.000
724,000
522,000
97,000
76,000
346,000
325,000
Tues.
Wed.
Thurs.
94%
92*3
94%
94%
94%
95
91
91%
92%
92%
94%
94
9258
93%
94
96
94%
97*3
95%
973s
96
98
98
96%
933s
95%
96%
97%
95%
97%
97%
95%
97%
97%
Indian
Thursday
speculative activity again set in, and there
under review, but
large purchases for export, favored by a lower range of
ocean freights, upon which there was a quick recovery, the
early deliveries showing exceptional buoyancy, and the offer¬
ings in the regular way limited to small broken parcels. To¬
day the feature of the market was the development of a
“corner” on January contracts, by which the price of No. 2
mixed was advanced to 58c., with some excitement, but
59,000
373,000
355,000
were
extreme
Wedncs.
unsettled and depressed early in the week
was
corn
537,000
76,000
of spot cotton, have been as follows:
Tuesday.
......
,.
June delivery
711,000
The tone of the Liverpool market for spots and futures each
day of the week ending Jan. 23, and the daily closing prices
Saturday Monday.
Mon.
March delivery....
April delivery
May delivery
sustained.
prices were not
Friday
1'IUCES OF NO. 2 MIXED CORN.
DAILY CLOSING
Mon.
Sat.
Market,
12:30 i\m.
Mid.
(
In
\
buyers’
In buyers’
inquiry.
favor.
Steady.
favor.
Quiet.
5%
5%
5%
5%
5%
6
6
6
6
6
Upl’ds
Mid. Orl’ns.
Sales
Small
....
6,000
8,000
7.000
7.000
1,000
1,090
1,090
1,000
Spec.& exp.
Harden’#
Tn elevator
tendency.
January delivery
February delivery
March delivery
April delivery
May delivery.
5ir,j3
(hie
7.000
8,000
1,000
1,000
Futures.
Market, i
-*
12:30 p.m.
Market,
.
5
^
Quiet
Partially
1-64 high’r
Quiet.
Firm.
barely
but
(
P. M.
The
$
Irregular.
Quiet.
steady.
Frm at
1-04 ad¬
Steady at
vance.
vance.
Very firm.
Firm.
1-04 ad¬
opening, highest, lowest and closing prices of futures at
otherwise stated.
The prices are given in pence and
62-6Id., and 6 03 means 6 3-6 LL
^at.
|
Jan. 17.
GLths, thus:
19.
91 on., Jan.
50%
50%
50%
52%
53%
50%
50%
51%
49%
49%
49%
49%
51%
49%
49%
49%
49%
Fri.
57
55
51 %
Thurs.
Wed.
51 %
Tues.
52
50%
50
50%
49%
50
Rye has shown a slight upward tendency, but business has
Barley has been taken much more freely at
rather better prices, and at the close Canada growth is held
a
decided advance.
speculation in oats has been quite brisk for a number of
days, and there has been some improvement in values. W
notice some export to France as well as to London. To-day
there were scarcely any offered; the advance on spot lots was
more decided than in futures, and a very strong feeling pre¬
vailed.
For future delivery No. 2 closed at 37^c. for Feb.,
The
Liverpool for each day of the week are given below. These
prices are on the basis of Uplands, Low Middling clause, unless
5
5*2%
5*2%
f;0%
50%
50%
5U %
53
52 %
been inactive.
for
Steady.
sieaily.
Fid
Sat.
95
92%
In elevator
For two weeks.
Spot.
PRICES OF NO. 2 RED WINTER WHEAT.
DAILY CLOSING
Jan. 23.
Jan. 16.
improvement on yesterday’s figures, but the close was
further
February delivery.
Sales of the week...
bales.
Of whieh exporters took
Of which speculators took..
Sales American
....
We
[VOL. XL.
5 62 meins
37f£c. for March and 37>£c. for May.
The following are closing quotations :
Tues., Jan. ‘JO.
FLOOR
j Open | High
Open High Low. Clos.
d.
Open High Loiv. Clos
d.
d.
d.
Superfine.
Sp:lug wheat extras.
2 80® 3 10
3 Io® 3 30
3 10* 3 10
4 30® 5 25
4 73® 6 Oo
d.
5 55
5 55
5 50
5 55
5 50
5 50
0 56
5 55
5 55
5 55
5 55
5 50
5 55
5 56
5 56
5 50
5 55
5 55
Wintersliipp’gextras.
| 5 59
5 59
5 59
5 5d
5 53
5 59
5 58
558
5 63
5 63
5 03
5 03
5 63
5 63
5 02
5 62
Winter XX A
Patents
e 03
e 03
0 03
0 03
0 03
0
0 02
0 02
6 00
0 07
6 06
6 07
0 07
0 07
0 00
6 06
d.
d.
January....
5 55
5 55
5 55
Jan.-Feb....
5 55
5 55
5 55
Feb.-March. 5 58
5 58
5 58
5 58
5 62
5 62
5 02
5 02
6 02
0 02
6 02
0 02
OC0
6 00
0 00
0 06
.
|
d.
d.
i
0^
i
XXX..
0 10
6 10
0 10
0 10
0 11
6 10
0 11
0 10
0 10
0 0§
6 09
0 13
6 13
0 14
6 14
6 14
0 14
0 14
0 14
6 13
0 13
Spring,per bush.
6 17
0 17
0 17
0 17
0 17
0 18
6 17
0 18
0 18
0 18
0 17
0 17
Spring No. 2
....
....
....
Oct.-Nov..
«•
....
Nov.-Dec...
...
....
....
•
•
•
•
•
•
•
....
...
....
•
.
.
•
•
•
•
•
•
...
•
•
•
•
.
•
....
....
#
.
.
j|
•
•
»
...
....
Thurs., Jan. JJ.
Wednes., Jail
....
•
Fri., Jan. J3.
3 00® 3 25
a
3 30
175®
190
GRAIN.
6 IS
....
2 40 ® 2 75
100 lbs
3 50® 4 75
South’ll com: extras..
$4 85® 5 50
3 40® 3 60
Western, Ao
Brandy win o. Ac
Buckwheat flour per
3 25® 4 75
City shtpiingex
6 10
....
family brands
Rve Hour, superfine..
Fine
Corn meal—
3 90® 5 00
Minn, clear amt stra’t.
a 13
....
S mthern baker o’ anil
bbl. $2 50® 2 90
Fine
d.
d.
March-Apr.
April-May..
May-June.
June-July..
July-Aug...
Aug.-Sept...
Sept.-Oct...
!
Low. Clos.
Wheat—
Rye—Western.
.
Red winter. No. 2
Red winter
White
Com—West, mixed
West. mix. No. 2
West, white
Whit ©Southern..
Yellow Southern.
82
n
95
92
80
85
50
n
State
1 01.
97
Oats—Mixed
White
No. 2 mixed..
No. 2 white
Buckwheat
Bariev—No. 1 Canada.
No. 2 Canada
94
a
® 1 00
98
58
58
54
55
55
®
®
50
52
®
52
®
62
®
69
36
38
64
71
a
®
38%
37% ®
38% ®
48
87
77
State, two-rowed.... 60
69
State, six-rowed
|
....
®
a
a
•w
*®
41
37%
39
50
90
80
62
72
c
Open High
Low. Cl03.[ Open High Low. ClOa.! Open High Low. Clot
-
1
January
Jan.-Feb
I
d.
d.
d.
d.
d.
d.
d.
d.
d.
d.
d.
...
551
5 7.4
5 54
5 54
5 57
5 58
5 57
5 58
501
5 62
501
5 62
...
5 62
d.
5 54
5 54
5 54
5 54
5 57
5 58
5 57
5 58
5 01
5 62
5 01
Feb.-March. 5 57
March-Apr. 5 61
5 57
5 56
5 5d
5 59
5 60
5 50
5 00
5 02
5 03
5 02
5 03
5 01
5 60
5 00
5 03
6 03
5 63
0 00
6 02
0 04
0 02
6 04
April-May.. 6 01
May-June.. 6(5
June-July.. 6 09
July-Aug... 6 12
Aug.-Sept... 0 10
Sept.-Oct..
601
0 00
0 00
0 03
6 04
0 03
0 04
0 00
0 07
0 06
0 07
Oct.-Nov-..
Nov.-Dee...
•
••
....
|
C 11
07
6 0S
0 07
0 08
0 10
6 11
0 10
08’ 0 08
d 10
6 12
0 10
0 IS
0 !4
0 15
0 14
6 15
0 11
0 11
0 14
0 15
0 14
0 15
6 18
0 18
6 18
6 18
0 15
0 !5
0 18
0 19
0 18
0 19
0 21
0 22
0 21
0 22
0 05
0 04
0 00
0
6 12
0 10
0 04 |
0
....
...
...
....
...
•
•
-
....
•
.
•
....
....
....
....
.
....
....
•
•
-
...
....
....
....
....
....
....
....
...
....
....
...
...
The movement of
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 compar»
statements below,
tive movement
for each of the
Milwaukee
flour
market has been much
less
movement in wheat
somewhat weak and
material decline.
has recently
irregular.
Stocks
are
which the
given them, have become
Still, at the close there is no
light, and buyers complain of
difficulty of getting good lines for export.
The wheat market opened the week dull, and on Tuesday
there was a considerable decline in futures.
There was much
the
selling to realize, and the large, visible supply seemed to dis¬
courage further speculation.
But the “ bull ” party developed
fresh strength, and the considerable takings for export caused a
revival of speculation, atti nded by a partial recovery in. values.
The excessively cold weather in some of the best wheat sec¬
tions, coining when there is but little snow on the ground,
threatens much injury to the fall-sown crop.
Today tlie
speculative movement opened strong, and prices made some
10,070
78,769
37,930
168,744
2 515
137,881
130,997
4,009
22,803
41.500
233.527
900
6.000
32,000
591,910
180,150
20,993
20,000
64,800
2*560
Duluth
8,900
409
•
■.
550
209,425
10,800
0,500
2,438,124
2,3'10.204
1,684,830
1.067,812
1,141,894
554,121
431,922
308,583
347,197
84,290
72,657
5,333,509 75,709,232 43.001.930
4,069.990 53,594.098 58,432.039
5,099 80i5 53.890,378 38.805.592
31,973,830
31,200,320
10,077,955
12.301.101
27 373 2 4 5
9,838,806
....
100,500
......
Tot. wk. '85
£03,091
1,715,580
Same wk. *84
182,179
940,038
Same wk. ’t3
162,100
1,020,078
Since
1,607
s
24 6cV0
221,613
137,922
2,400
13.73VJ
2,000
43,450
..
Peoria
active in the past
week, and prices, lacking the speculative support
707,035
010,993
338,381
Ii'je.
Barley.
Bush. 82 lbt;! Bush.48 lbs Bush.561
1,375,628
82,058
89,780
Toledo
St. Louis
Friday, P. M, January 23, 1885
The
..
lbs\ Bush.fMlbs
j
Oats.
Corn.
Wheat.
Bbh.imi? Bush. 60
Chicago
Jan. 17 and since Aug. 1
for the week ending
last three years; '
Flour.
Receipts at—
Cleveland.
BREAD STUFFS.
breadstuffs to market is indicated in the
41,108
July 28
1SS4-5
1883-4......
1882-3
3,113,173
5,463,078
2,045.030
comparative shipments of flour and grain from the same
ports from Dec. 22, 1884, to Jan. 17, 1885, inclusive, for four
years, show as follows:
The
1884-5.
1883-4.
-.bbl8.
917,993
696,513
Wheat. busli.
1,351.102
Coni
0. s i»2
1.866 191
Flonr
total grain
Below
....
are
1,527.675
1,381,532
1,576.076
6
3,SOS ,655
2,200.470
570.270
55,131
132,386
9,735,961
8,69.5,575
| 10,l0l,.799
1
Bye
1881-2
518,851
5
•4>7.6
Barley
1882-3.
926,54 4
5,49 5.255
2.477,890
873.703
173,369
/
O.its
f
.
i
4.5793*
1,3 25.3s 3
the rail shipments
ports for four years:
532.748
170.400
from Western lake and river
bblB.
Flour
Wheat
Com...
Oats
1885.
Wieek
Jan. 17.
1884.
Week
Jan. 19.
1883.
Week
Jan. 20.
1882
Week
Jan. 21.
243,967
179,625
172,211
127.385
Rye
St. Louis
Cincinnati
Boston
Toronto
Corn,
Wheal,
636,828
2,2 U), 131
551,487
382.206 ,1,7-4:3,875
918,926 .369.172
316.778
967,63 j
305,70 4
332,611
122.815
104.52 •:
39,775
128,701
131,633
22,6.5 7
2 J ,2.51
5,870.862 1.866.191
4,579,906 1,825,33S
487.67.5
570.279
2 92,386.
319,507
Jan. 10,’85 251,037
Jan. 3/85 20 7,720
Dec. 27’84 206,069
ii\ v
7,
Tor., 4 w...917,996 1,331,10.2
4w'ka‘83-i.696,545 1,527,675
155,131
0
*
9,234
3.338
188,842
331,131
484,558
31.13 4
206/536
1,700
869
127.792
37.110
72,100
8.500
103.953
923,855
508,926
504,521
1,64 .if 8
410,212
»
>
’64.
’sJ.
'82.
Wheat,
OblS.
bush
185.325
116,964
59,2 L 4
115,750
6,269
1,350
8,742
Portland
Montreal
21,750
144/00
27,824
36,159
Philadelphia...
Baltimore-
Newp’t News..
231,742
6,910
New Orleans...
busn.
24, 1884, to Jan. 17,
1.450
IS 7,800
26,000
1885, compare as follows for four years:
1882-3
1,264,79.8
bush.
2,406,186
6,885,533
1,151,193
2,809,584
4,110,555
5,371,165
1,717.338
1,609,522
982,081
439,867
421.000
Total grain
...
11,4L0,829
5,486.700
exports from the several seaboard ports
ending Jan. 17, 1885, are shown in the annexed
The
Corn.
Wheat.
Bush.
1881-2.
747,909
2,135,3 24
2,203,131
1,49 7.963
470,137
31.427
280,139
54,724
11,543,981
122,842
63,721
,
..
3 1.099
531,532 155,204
272,888 44,300
5J
1883-4.
Now York
Boston.
Portland.
Montreal.
)
23,039
322,510
Exports
from -
600
5,63
8,400
583,920
144,623
*)oS»31)0
956,15 6
Barley
Kye.-.w
6,637,987
for the week
statement:
Flour.
Oats.
Rye.
Peas.
Bbls.
Bush.
Bush.
Bush.
Bush.
752.379
445,981
125,741
46*193
20,110
31.882
1,911
10,295
4,364
29,610
850
6,269
Philadel..
58,222
103,000
18,680
Baltim’re
N. Oii’ns.
N. News.
357,211
348.841
24,915
934
235,596
425
1,296,458 1,133,528
202,493
4,377
10,295
31,521*
551,568
182.569
1,445
74.471
54,566
Total w’k.
S’me time
1884.
’
*
•
’
r •• •
13
638,785
COTTON
We add the
is as below.
corresponding period of last year for comparison:
—
Week,
Jan. 19.
Coutiu’nt
8.&C.A111
W. Indies
Brit; col’s
Otb.c’n’ts
1885.
Week,
Jan. 17.
14.69 2
839,4 45
206,568
30,843
18.329
3,146
9,936
9,607
14,102
1.004
419
647
6,452
621,425
444,273
Monday..
Bush.
Bush.
116.711
994.34S
302,110
1884.
Week.
Jan. 19.
Tuesday.
160,995
4,355
15,2 49
202,493
Total...
1884.
Week,
Jan. 19.
Bush.
Bush.
Bbls.
Bbls
Un.King.
1885.
Week.
Jan. 17.
1884.
1885.
Week.
Jan. 17.
Saturday,
Corn.
Wheat.
Flour.
Exports
for week
281,485
300,4 43
41,120
3,892
Wed’day.
Thursday
5,060
1.566
1,309
158,045 1,296,458 1.065,6)8 1.153.528
6 33,309
Total..
Jan. 19.
Aiuj.25 to
Aug. 27 to.
Jan. 17.
Jan. 19.
Ua. Kingdom
2,434.758
2,350,855
Bw h,
13.158,215
Continent...
1G0.13J
S. & C. Am...
223.912
324.972
268.997
West Indies.
354.20.3
338,096
Brit. CoPnles
303.046
Oth. countr’s
Bbls.
Total.
...
Bush.
13843.
Tone.
Price
....
Price
Dull.
315
Quiet.
Sales
....
Sales
Quiet.
Sales
Quiet.
Saios
Quiet.
Sales
Quiet.
Sales
Quiet.
Sales
Prlee
Sib
Price
Dull.
3 15
Dull.
3-15
Dull.
315
Price
]
....
....
..
.
....
....
Dali.
3-15
Price
....
....
Price
Sales
Price
Price
....
....
.-...
Sales
Price
Sales
Sales
....
Sales
Sales
Price
Price
...
..
Price
....
....
....
Sales
Price
.
Sales
....
Prico
....
Sal os
....
Total.
....
....
....
....
....
..
....
Price
....
Sales
....
Price
...
Sales
...
■
..
.....
....
....
...
i
..
3*D; Monday, 3-20;
3 20.
Tuesday, 3 20; Wednes¬
Goods.—Toe exports of cotton goods
from
port to foreign markets for the week were 2,833 packages,
including 1,135 to Great Britain. 229 to Brazil, 147 to Vene¬
zuela, 127 to Peru, 100 to Marseilles, 95 to Santo Domingo, 95
to Hayti, &e.
The demand at first lianas was barely up to
A ug.
25 to
Jan. 17.
Bush.
18? 8-4.
J ug.
27 to
Jan. 19.
Bush.
8.432,034
J 3,409 810
11.903,124
6,999,177
2,218,037
12,821,750
8,471,654
35,400
581
490,338
630,827
146
21,538
8,010
159,619
299,099
13.792
15,854
13,278
600
59,877
181,890
84,526
108,600
3,607,633
3,439.640
20,619.904
18,93 3,030
11,432,333
17.319,247
The visible
Price.
Dull.
March. ‘
February.
r
January.
Tone.
this
1883-4.
1884-5,
j
j
j
j
j
Futures.
Spots.
Domestic Cotton
‘
1883-4.
1884-5.
Exports since
Aliy. 25, to— Aug. 25 to Aug. 27 to
SALES OF FUTURES.
Transferable Notice?-Saturday,
Thursday. 3'20 ; Friday.
Corn.
Wheat.
Flour.
Bbls.
3,,09 1.7 43 2,,580.3-41
2 .702,300 L.49 1,001
2,,599 ,93 1,,333,732
the week:
day, 3’20;
season:
.
452,792
720.460
as
Price
Friday....
By adding this week’s movement to our previous totals we
have the following statement of exports this season and last
Jan. 17.
1_ .7-8.029
1,.733.075
TRADE.
MARKET.
EXCHANGE
The destination of these exports
to
situation
market during
72,250
..
38,059
62,035
past week his
business
10.300
22,200
43.00 J
bbls.
Oats
2.112
23,700
developed veiy iit:!o change i i the
far as concerns the dry goods
trade.
There was a very large represent it ion of whole ale
buyers in the market, and their operations m certain
spring and summer fabrics were conducted with a fair degree
of liberality, but the general demand by Western and South¬
ern jobbers was somewhat disappointing,
and in some in¬
stances conspicuously light, compared with the correspond¬
Nearly all textile fabrics are ex¬
ing time in former years.
ceedingly cheap at present quotations, and there is seemingly
-a fair prospect for a moderately
good demand for consump¬
tion, but the majority of distributors are evidently determined
to pursue a conservative policy for some time to come, al¬
though evidences of returning confidence are by no means
lacking. Tiie fact of the matter is that the hand-to mouth
method of buying lately adopted by jobbers has worked so
remarkably well, that there is no sound reason for its discon¬
tinuance, under the existing conditions of supply and de¬
mand.
The event of the week was a peremptory auctionsale
of about 1500 cases satinets which comprised several popular
makes.
The sale was largely attended by wholesale clothing
manufacturers and jobbers, and the bulk of the goods were
disposed of—the average prices obtained having been about
17^ per cent below agents’ net quotations.
Print Cloths.—The following shows the course of the
Tae
.
21,034
350,618 123,125
6,700
91,875
3,2oO
3,1.79
9,490
930,786
120,675
10,500
1881-5.
Flour
Rye
btls/t
receipts at the same ports for the period from Dec.
The total
Wheat
Corn
Bar Leu,
bus/.
Oats.
Corn,
bush.
735,433 2,520,121
766,6rf8
1,141
Total week... 256,293
Gor. week '84.. 116,971
3,576
3,99 4
10,00.1
44M73
Friday, P M., January 2 ). 183.3.
Flour,
At—
.
2,063
2,0 >0
GOODS
DRY
THE
week ended Jan. 17 follow:
No v York
Boston
1,971
1,741
13,337
115.788
18,0 H»
42,776,970 0,41 4,1 49 2 /i Lc>,i) J 1
42,029.938 5, 1 1 4,1 1 7 2, 5 78. 115
3 1,8 <0.S7i 11,055.8 L) 5, ,887 2->7
21 33 8.312
9,575,707 4 .419,625
17,321,895 16,954,628 2, ,976.059
’85.
• -5.
11.259
January 10
seaboard ports for the
receipts of Hour and grain at the
42,856
Mississippi.
T <i. Jau. 17,
T ...Jan, 10.
rot. Jau. 19
T >l. Jau,20.
T 0. Jau.21.
63 418
393.555
S.860
%.
2.500
18,256
2,595,682
41,958
9.595
465,000
27,866
55.679
69 ,560
•
bush
14,659
2,035
1A
bush.
32,741
95.000
63 4.308
Rye,
Barley,
129.721
20 313
0::
bus:-.
bush.
bush.
bush.
Bart
Oct's,
bush.
29 ,,261
I>
Week
Flour,
bbla.
tndxna—
Jail. 17'85 253,170
Oats,
bush.
953,663
6,545
Kansas Gifcv
Balnmors
were:
Com,
bush.
772.590
185.090
Philadelphia
Indianapolis
2,571,809 2.631,032
Wheat,
Montreal
Peoria
shipments from same ports for last four
The rail and lake
weeks
Osweafo../
89,840
30,814
202,245
36,8 77
3,10j,175
3,080.173
Total
The
182,990
60.748
122,815
39,775
Barley
Jn store at—
Detroit
314,238
359.622
557,635
1,617,324 1,327,901 1.322 603
711,428
690,483
823.703
319,507
1.989.293
603,783
bash.
.
129
THE CHRONICLE
1885.]
January 24,
41,783
confined to small
and bleached cot¬
business in wide
sheetings, cottonades, cheviots, and denims. White goods
fairly active, and agents continued to make liberal
expectations, selections having been mostly
parcels of the various descriptions.
Brown
tons continued quiet, but there was a fair
were
deliveries of such makes as
India linen, Victoria lawns,
nain
supply of grain, comprising the stocks in granary
sooks, &o., in execution of back orders. Quilts were more
principal points of accumulation at lake and seaboard active, and a fair business was done in table damasks. Prices
85.was as follows:
ports, and in transit by rail and water, Jan. 17,
of plain and colored cottons remain unchanged, but there is
Hue
Barley.
Oafs,
Wheat,
Corn,
bush
bush
bush.
bush.
bush.
In store at
iess tendency to advance quotations than was manifested a
67.173
203,611
313,494
308,743
New York
6,871,363
198,6 15 .short time ago.
59,000
303.359
120,333
I)o
alloat (cst.)
75,567
Print cloths ruled quiet and steady, extra
4.002
103.000
400
43,500
12,000
Albany
GlxGis
closing
at
823C.,
while 56x00 are unchanged at
22,000
320,-100
5,000
9,000
Bulbilo
1.964,COO
123,101
151,505
On lea sco
14,184,245 1,808,670 745,154
Prints were in irregular demand, but fairly active in some
at the
-
.
.
■
1
Newport News...
Milwaukee
Duluth
Toledo
76.180
152,630
69,630
4,215,473
4.763,325
2,921,420
02,381
20,713
11,912
5,468
quarters, and a good steady business was done by agents rep¬
resenting popular makes of woven and printed wash, fabrics,
THE CHRONICLE.
130
as
ginghams, chambrays, seersuckers, foulards, satines,
cre¬
tonnes, &c.
Domestic Woolen Goods—There
was
little if any improve¬
ment in the
general demand for clothing woolens, and the
was unsatisfactory.
There were more buyers in the market on the look-out for
“job lots,” but their views as to price were mostly too low to
volume of business in this connection
merit the serious consideration of holders, and few transac¬
tions
therefore
Choice makes of fancy caesimeres and worsteds were taken in small parcels,
for the
renewal of assortments, at regular prices, but ordinary makes
ruled very quiet. Satinets were sluggish, owing to the auction
sale alluded to above, and dealings in Kentucky jeans and
doeskins continued light and unimportant.
Flannels and
blankets were slow of sale, but unchanged in price. Tricots,
wool suitings and sackings were more active, and a fair busi.
ness was done in Jersey cloths and staple and fancy worsted
dress fabrics, while rather more inquiry was extended to
cloakings.
Foreign Dry Goods.—The demand for foreign goods con¬
tinued light and irregular, but there was a somewhat better
business in a few specialties. British dress goods were in
improved demand, but Continental fabrics of the finer grades
ruled quiet.
Silks, velvets, plushes and cloakings were
lightly dealt in, and prices favored the buyer in some cases.
White goods were a little more active, and Hamburg embroid¬
eries were distributed in fair quantities (privately and through
the auction rooms), but linen goods and laces continued slug¬
gish, and dealings in hosiery and gloves were only moderate,
considering the large force of buyers in the market.
were
reported.
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Importations of Dry Goods.
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The
importations of dry goods at this port for the week
ending Jan. 22, 1885, and since January 1, and the same facts
for the corresponding periods are as follows:
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%xnsX ©orapatiics.
%xxist ©nrajrautes.
Commercial ©arils.
United States Trust Co.
The Union Trust Co.,
Brinckerhoff, Turner
011 AND 013 CHESTNUT STREET,
OF NEW YORK,
No. 49 WALL STREET.
$2,000,000
3,541,608
Capital,
Surplus,
This company Is a legal depository for moneys paid
Into court, ana is authorized to act as guardian or
receiver of estates.
INTERE8T ALLOWED ON DEPOSITS,
which may be made at any time, and withdrawn after
five
days’ notice, and will be entitled to interest for
the whole time they may remain with the company.
Executors, administrators, or trustees of estates,
and females unaccustomed to the transaction of busl¬
ess, as
well
as
religious and benevolent institutions,
will find this company a convenient depository for
JOHN A. STEWART, President.
WILLIAM H. MACY, Vice-President*
JAMES 8. CLARK, 8econd Vice-Pres’t
money.
James Low,
S. B. Chittenden,
W. W. Phelps,
John H. Rhoades
D. Willis James, Anson P. Stokes,
John J. Astor,
Robt. B. Minturn
John A. Stewart, Geo. H. Warren,
8.M. Buckingham George Bliss,
H. E. Lawrence, William Libbey,
George T. Adee, Isaac N. Phelps, John C. Brown,
Erastus Corning,. Edward Cooper.
Samuel Sloan,
W. Bayard Cutting.
HENRY L. THORNELL, Secretary.
LOUIS G. HAMPTON. Assistant Secretary
THE
Provident Life & Trust Co
PHILADELPHIA.
Incorporated Third Mo., 22d, 1805.
(CHARTER PERPETUAL.)
CAPITAL
$1,000,000
ASSETS
$14,583,444 S3.
INSURE
LIVES, GRANT ANNUITIES, RE¬
CEIVE MONEY ON DEPOSIT, returnable on de¬
mand, or on which interest is allowed, and are empow¬
ered bylaw to act as EXECUTORS, ADMINISTRA¬
TORS, TRUSTEES, GUARDIANS, ASSIGNEES,
COMMITTEES, RECEIVERS, AGENTS, etc., lor
the faithful performance of which
their
capital and
furnish ample security.
surplus
fund
All
funds and
are
trust
investments
kept separate
and apart from the assets of the company.
The Income of parties residing abroad carefully
collected and duly remitted.
SAM’L R. SHIPLEY, President.
T. W1STAR BROWN. Vice-President.
ASA S. WING, Vice-President and Actuary.
Metropolitan Trust Co.,
Mills
appointee.
Takes charge of property; collects and remits in¬
terest and income promptly, and discharges faithullv the duties of every trust known to the law.
All trust assets kept separate from those of the
Company.
Burglar-Proof Safes and Boxes (having chrome
steel doors) to rent at $5 to $60 per annum, in their
new and elegant chrome steel.
Fire and Burglar-Proof Vaults,
protected by improved time locks.
Wills kept in Vaults without charge.
The
Co.,
Manufacturers and Dealers In
COTTON SAIL DUCK
And all kinds of
COTTON
CANVAS, FELTING DUCK, CAB
COVERING, BAGGING, RAVENS DUCK, SAIL
TWINES, Ac., “ONTARIO” SEAMLESS
BAGS, “AWNING STRIPES.
Also, Agents
UNITED STATES BUNTING CO*
securely
kept, under guarantee, at moderate charges.
Car trusts and other approved securities for sale.
Money received on deposit at interest.
JAS. LONG, Pres’t. JOHN G. READING, V.-Pres’t
MAHLON S. STOKES, Treasurer A Secretary.
D. R.' PATTERSON, Trust Officer.
Directors.—James Long, Alfred S. Gillett, Allison
White, Dr. Chas. P. Turner, William S. Price, John
T. Monroe, W. J. Nead, Thos. R. Patton, John G.
Reading, Jas. S. Martin, D. Hayes Agnew, M. D.,
Jos. 1. Keefe, Robert Patterson, Theodore. Engel,
Jacob Naylor, Thos. G. Hood, Edward L. Perkins,
Philadelphia: Samuel Riddle, Glen Riddle, Pa.;
Dr. George W. Reily, Harrisburg, Pa.; J. Simpson
Africa, Huntingdon ; Henry S. Eckert. Reading ;
Edmund S. Doty. Mifflintown ; W. W. H. Davis,
Doylestown ; R. E. Monaghan, West Chester;
o'has. W. Cooper, Allentown.
A full
supply, all Widths and Colors, always in stock
No. 109 Duane Street.
Brown,W ood &.Kingman
SELLING AGENTS
Geo. II. Gil
ert
FOR
Mfg. Co..
Arlington Mills,
Freeman Mfg. Co.,
Renfrew Mfg. Co., James Phillips, Jr.
Fitchburg Worsted Co..
George Whitney.
Continental Mills.
Lincoln Mills.
BOSTON, 31 Bedford Street.
& 00 Worth Street, and
MpriT vrrtp|T ( 53
new
YORK^35
&
37 Thomas Street.
Brooklyn Trust Co. Joy, Lincoln & Motley,
Cor. of Montague A Clinton sts., Brooklyn, N. Y.
This Company Is authorized by special charter to
act as receiver, trustee, guardian, executor or ad¬
ministrator.
It can act as agent in the sale or management of
real estate, collect interest or dividends, receive
registry and transfer books, or make purchase and
■ale of Government and other securities.
Religious and charitable institutions, and persons
unaccustomed to the transaction of business, will
find this Company a safe and convenient depository
for money.
RIPLEY ROPES, President.
EDMUND W.
CORLIES, Vlce-Pres’t.
TRU8TEES:
Josiah O. Low,. E. F. Knowlton,
H. E. Pierrepont,
Alex.M. White, John T. Martin, Henry K.Sheldon,
A. A. Low,
Wm. C. Kingsley. C. D. Wood,
Alex. McCue,
Fred. Cromwell, Wm. H. Male,
Mich’IChauncey.Jonn P. Rolfe,
Wm. B. Kendall, E W. Corlies,
Henry Sanger
Ripley Ropes.
Jas. Ross Curran. Secretary.
43 A 45 White Street,
15 Chauncey Street,
BOSTON.
NEW YORK.
AGENTS FOB
Atlantic Cotton
Ocean Mills Co.
Peabody Mills,
Mills,
Chicopee Mfg. Co.,
Ellerton New Mills.
White Mfg. Co*.
Saratoga Victory Mfg. Co.,
Hosiery and yarn Mills.
Bliss, Fabyan & Co.,
New York, Boston,
Philadelphia,
SELLING AGENTS FOR LEADING BRANDS
BROWN & BLEACHED SHIRTINGS
AND
SHEETINGS,
PRINTS, DENIMS, TICKS, DUCKS, Ao.
Building, 35 Wall St., New York.
PAID UP CAPITAL, $1,000,000.
Designated as a legal Depository by order of Su¬
preme Court. Receive deposits of money on interest,
act as fiscal or transfer agent, or trustee for corpora¬
tions and accept and execute any legal trusts from
persons or corporations on as favorable terms as
Other similar companies.
THOMAS HILLHOU8E, President.
FREDERIC D. TAPPEN. Vice-President
WALTER J, BR1TTIN, Secretary.
500,000
Charter Perpetual.
Acts as Executor, Administrator, Assignee, Re¬
ceiver, Guardian, Attorney, Agent, Trustee and Com¬
mittee, alone or in connection with an individual
*
&
$1,000,000
Paid-up Ca pital
Bonds and Stocks. Plate and all valuables
TRUSTEES:
Dan. H. Arnold,
Thomas Slocomb,
Charles E. Bill,
Wilson G. Hunt,
Wm H. Macy,
Clinton Gilbert,
Daniel D. Lord,
OF
PHILADELPHIA.
Authorized Capital
OFFICE
CARPETS.
Before buying your Carpets, Linoleum, Oil
Cloths or Mattings, call at BENDALL’S
*
Carpet Store, 114 Fulton St., basement
floor. Cheapest place in the city. If not con¬
venient to call, send for
samples.
Towels, Quilts,White Q00dg ^ Hosiery
Drills, Sheetings, die., for Export Trcuie.
James F. Wenrnan & Co.,
COTTON BROKERS,
No. 113 PEAFL
STREET, N. V.
Established (in Tontine Building) 1540.
