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HUNT’ S MERCHANTS’
REPRESENTING THE IN D U STR IA L
YOL 46.
A N D COMMERCIAL INTERESTS OP
N E W YORK, J A N U A R Y 7,
Ifitxatxjcial.
TO
NEW YORK.
DIAMONDS.
Alfred H.‘ Smith & C o.,
Business Founded 1795.
In corpora ted u n d er Laws o f S tate o f New Y o rk , 1 8 5 8 .
R e o r g a n iz e d 1 8 7 9 .
an d
P rinters
op
B O N D S , P O S T A G E & R E V E N U E S TA M P S *
L E G A L T E N D E R A N D N A T IO N A L B A N K
N O T E S of the U N IT E D S T A T E S ; and for
Foreign Governments«
ENGRAVING AND PRINTING,
B A N E N O T E S , S H A R E C E R T IF I C A T E S , B O N D S
Fo r g o v e r n m e n t s a n d c o r p o r a t io n s ,
DRAFTS, CHECKS, BILES OF EXCHANGE,
STAMPS, Ac., In the finest and most artlstle style
FROM STEEL PLATES,
fflth SPECIAL SAFEGUARDS to PREVENT COUNTERFEITING.
Special papers m anufactured exclusively fo r
nse o f the Company.
S A F E T Y CO LO RS.
SA FETY PAPERS.
IM PORTERS,
182 Broadway, Cor. John Street.
Show Cards, Labels, Calendars.
BLANK BOOK8 OF EVERY DESCRIPTION
JAMES MACDONOUGH, President
A. D. SHEPARD,
)
W . ES. S M ILLIE,
> Vice-President«.
f m @ ROBERTSON, )
TH1CL Bt FREELAND. Secfy and Treat,
Maverick National Bank
.
.
MASS.
-
.
.
1888.___________NO. 1,176.
$ 4 0 0 ,0 0 0
$ 6 0 0 ,0 0 0
Accounts o f Banks, Bankers and Corporations
solicited.
Our facilities for COLLECTIONS are excellent
and we re-discount for banks when balances war
rant It.
Boston is a reserve city, and balances with ns from
banks (not located in other reserve cities) count as a
reserve.
W e draw our own exchange on London and the
Continent, and make Cable transfers and place
money by telegraph throughout the United ¡states
and Canada.
Government Bonds bought and sold, and exchanges
In Washington made for banks without extra charge.
We have a market for prime first-class Investment
Securities, and invite proposals from States, Coun
ties and Cities, when issuing bonds.
We do a general banking business, and invite cor
respondence.
ASA P . P O T T E R , Presiden t.
JO S. W . W O R K , Cashier.
Broadway and Nineteenth Street,
AND 9 MAIDEN LANF.T
92 B roa d w a y,
STOCK BROKERS.
Stocks, Bonds and Miscellaneous Securities bought
and sold for cash or on margin.
W. P. W i g h t ,
J. B. Cr e i g h t o n .
Memb. N.Y. Stock Exoh.
A . B. Cl a f l i n , Spec’l
STOCK B R O K E R .
Lansdale Boardman,
N E W Y O R K , 80 BROADWAY & 5 NEW ST.
T S O Y , IV.Y ., N o. 17 FIRST STREET.
Albany, N.Y.
Providence, R I.
Saratoga
Transact a General Banking Business»
121 South T h ird Street, P h ila d e lp h ia ,
Connected by Private Wire with main office. New
York.
DEALERS IN
FIR ST-CLASS IN V E STM E N TS.
Established 1854.
Incorporated 1883
Lombard Investment Co.,
150 B R O A D W A t, N E W Y O R K .
G uaranteed Six Pei* Cent m ortgages
CAPITAL (FULLY PAjD) ................ $1,000,000
TOTAL VALUE OF GUARANTY.... 2,400,000
Trustees and Investors generally are requested
to call and examine these securities, or send for
pamphlet giving full information.
S. A . Kean & C o.,
Ch i c a g o .
|
INVE ST M E
T
BONDS.
Call or send for Lists.
Chrystie & Janney,
BANKERS,
Nos. 2 3 & 25 Nassau S t., N ew Y o rk
Receive deposits subject to check at sight and
allow interest on balances.
Deal in Rail Road Bonds, State, County and Muni
cipal Securities.
Give special attention to consignments of Bullion
and make liberal advances on same when-desired.
W ood, Huestis 8c C o,,
31 PIN E STREET, NEW YORK,
BANKERS AND
BROKERS
WOOD
&
D A V IS .
Execute orders in all securities listed at the New
York Stock Exchange. For Sale:
Fir s t -Cl a s s R a il r o a d
f ir s t
Mo r t g a g e
Hir a m
d e w in g .
bon ds.
GEORGE C. WOOD. C. H. HUESTIS. L. M. SWAN
d e w in g .
Cl a r k
F .T . B ontecod
(Member of N. Y. Stock Exch.)
H . Dewing 6c Son,
B A N K E R S AND
Buy and sell on Commission, for cash or on margin,
all securities dealt In at the New Fork oto k Ex*
change.
Interest allowed on daily balances.
All deposits subject to check at sight.
Particular attention to orders by mall or telegram
H. L.* Horton 8c C o.,
54 and 56 BROAD W A Y, New York.
BARTHOLOMEW HOUSE,) T
BARTHOLOMEW LANE, JLONDON.
Special Attention Given to American
Securities.
Solicit Accounts and Orders for the Purchase and
Sale of Bonds, Shares, &cM&c., on Commission, in
New York, Boston, Chicago, London or Paris,
Interest allowed on deposits subject to drafts at
sight.
Members of the New York an& Boston Stock Ex
changes and of the New York and Chicago Produce
Exchanges.
Private wires to Chicago, St. Paul, Boston, Hartford, Buffalo and Utica.
Ed w a r d
l
. Op p e n h e im .
W a l t e r Del
m a^.
E. L. Oppenheim 8c C o.,
[ESTABLISHED 1862],
BANKERS AND BROKERS,
51 Sc 53 N ew Street an d 4 2 B r o a d w a y ,
Br a n c h O ffice , 91 L e o n a r d St r e e t ,
NEW YO RK.
95 Old B roa d Street, E . C ., LONDON.
Frederick W . Perry,
SU C C E S SO R S T O
W . P. W ight & C o.,
BANKERS <Sc BROKERS,
16 and 18 Broad Street, N. Y .
SOLID SILVER.
K. Sistare’s Sons,
G O R H A M IM’t’g C o., Geo
16 A 18 B roa d Street, N ew Y o r k .
LITHOGRAPHIC AND TYPE PRINTING.
Ra i l w a y t i c k e t s o f im p r o v e d s t y l e s .
C A P IT A L ,
SU RPLU S,
STATES
Direct Private Wires to each office and to
PHILADELPHIA,
BOSTON,
WORCESTER*
Work Executed In Fireproof Buildings.
BOSTON,
UNITED
Spencer Trask •& C o.,
86 TRINITY PLACE,
E ngravers
THE
îfitxaucial.
A M E R IC A N
Bank N ote Company <
78
MAGAZINE,
BROKERS,
No. IS W a ll Street, N ew Y o r k .
Successor to J. h . LA TH AM & Co.)
UNITED BANK BUILDING,
No. 2 W A L L S T R E E T , N E W Y O R K .
City, County. State, Railroad,[District o f Colum
bia Bonds and Foreign Exchange.
Howard Lapsley 8c C o.,
Stocks and Honda bought and sold on commission.
BANKERS AND BROKERS,
Particular attention given to information regard
ing Investment Securities.
74
B
R
O
A D W A Y and 9 NEW STREET,
Uwa Loan & Trust. Co. 6 par cent Debentures i
Stock Exoh. membershipi private wires: all facilities. - bought and sold.
New Y o r k .
THE C
li
[Y ol.
XLVI.
IBanktxs atxÄ grattrjevs of 'govotyu ^xíftauíse.
K O M T Z E BROTH ERS,
Drexel, Morgan & C o., August Belmont & C o.,
w all
St r e e t ,
NEW
Drexel & Co.,
córnea of broad«
YORK.
BANKERS,
120 B r o a d w a y , Equitable Building, New York.
L E T T E R S O F C R E D IT AN D
C IR C U L A R NOTES
ISSUE TRAVELERS’ CREDITS, available In all
BANKERS,
N o. 36 W A L L S T R E E T .
parts of the World, through
DreieljHarjes &Co rflessrs. Nl M. Rothschild Sc Sons, London,
Issued for the nse of travelers in all parts o f the
world. Bills drawn on the Union Bank of London.
Telegraphic transfers made to London and to various
.In the United States. Deposits received, sub-Cor. o f 5th & Chestnut Sts. 31 Boulevard Haussmann,
“
HI. A. de Rothschild Sc Sons, Frank- ilaces
ect to check at sight, and interest allowed on bal
iort®\m.
ances.
Government and other bonds and InvestP A R IS .
P H IL A D E L P H IA
So 01. do Rothschild, Esq,, Vienna.
Sent securities brmsrht and sold on onmmls«lnn.
de Rothschild Bros., Paris.
“
i
AND THEIR CORRESPONDENTS.
ROU ESTIO A N D FOREIGN RANKERS.
Draw Bills of Exchange on, and make Cable Trans
Deposits received subject to Draft. Securities fers to, England, France and Germany._______ toought and sold on commission. Interest a l l o w o v i
Deposits. Foreign Exchange. Commercial Credits.
-Cable Transfers. Circular Letters for Travelers,
av<ui<vble in all parts of the world.
A ttorneys
John Patón & Go.,
a n d a g e n t s ov
M essrs. J . 8. M O R G A N & CO*.
-¿To, 22 OLD BROAD STREET, LONDON.
BtJCbEBSoiás TO
JE SU P , P A T O N & CO.,
52
W illia m
Street, N ew Y o r k .
Brown Brothers & C o.,
Accounts and Agency of Banks, Corporations,
firms and Individuals received upon favorable terms.
Dividends and interest collected and remitted.
Act as agents for corporations in paying coupons
-NEW YOBK, PHILADELPHIA, BOSTON, AND
and dividends; also as transfer agents.
A L E X A N D E R B R O W N Si SO N S,
Bonds, stocks and securities bought and sold on
BALTIMORE.
commission, at the Stock Exchange or elsewhere.
Members of New York, Philadelphia and Baltimore
Sterling Exchange and Cable Transfers bought and
Stock Exchanges.
sold.
Ex wrote orders for all investment securities. Re
DRAW ON
c e i v e accounts >f Banks, Bankers, Corporations and
THB UNION BANK OF LONDON,
Firms, on favorable terms. Buy an 1 sell Bills of Ex
change on Great Britain and Ireland, France, BRITISH LINEN COf BANK, LONDON AND
Germany, Belgium, Holland, 8witserland, Nor
SCOTLAND.
way, Denmark, Sweden, Australia, St- Thomas,
St. Croix and British West Indies. Issue Commeraial and Travelers' Credits in sterling, availaoiein any part o f the world, in francs ror
. use in Martinique and Guadaloupe, and in dollars for
•use in this country, Canada, Mexico and West Indies.
BANKERS,
Make telegraphic transfers of money between this
N o. 2 3 B R O A D S T R E E T ,
eountry, Europe and British and Danish West In
dies. Make collections of drafts drawn abroad on all
New Y o rk .
points in United States and Canada, and of irafts
-drawn in the United States on foreign counties.
Issue Letters o f Credit for Travelers
Their London house, Messrs. BROWN, SHIPLEY
On SELIGMAN BROTHERS, London.
h CO., receive accounts o f American banks, firms
8EL1GMAN FRERES & CIE, Paris.
.nil individual« noon favorable terms.
SELIGMAN & STETTHEIMER, Frankfurt.
BROWN, SHIPLEY & CO., Liverpool.
ALSBERG. GOLDBERG & CO., Amsterdam.
BROWN, SHIPLEY & CO., London.
ALTMAN A STETTHEIMER, Berlin,
CJ. S. Government Financial Agents in c.ngland.
Payable In any part of Europe, Asia, Africa, Aus
tralia and America.
Draw Bills of Exchange and make Telegraphlo
Transfers of Money on Europe and California.
J. & W . Seligman& C o.,
J. & J. Stuart & C o.,
33 NASSAU S T R E E T .
BILLS OF EXCHANGE ON
*S M I T I I ,
PAYNE
& S M I T H ’ S,
BANKERS, LONDON,
M ANCHESTER
Sc C O UN TY R A N K ,
“ LIMITED,”
MANCHESTER, PAYABLE IN LONDON;
U LSTER
B A N K IN G
COM PANY,
BELFAST, IRELAND
BANK
O F SCO TLAN D ,
EDINBURGH AND BRANCHES;
ALSO,
<5 A.BLE TRANSFERS AND LETTERS OF CREDIT.
J o h n M unroe & C o . ,
* NO. 3 2 Nassau Street, N ew Y o r k .
N o. 4 P ost Office Square, B o sto n .
ISssue Circular Letters o f Credit for Travelers’ Use
Abroad against Cash or Satisfactory
Guaranty o f Re-payment.
:3E [change on L o n d o n , P a rts, B e r lin ,
Z u rich an d St. G all.
«C r e d it s Op e n e d
an d paym ents
Ma d e
by
Ca b l *.
P aris H ou se—M U N R O E Sc CO.
Schulz & Ruckgaber,
BANKERS,
« 9 W IL L IA M STR EET, N E W Y O R K ,
CORRESPONDENTS OP THE
In tern a tio n a l R a n h o f L o n d on
(L im ited ), L o n d o n .
'■Messrs. J o h n B erenberg,G ossler Sc C o.,
H a m b u rg .
9Iegsrs.M a rcu a rd ,K rau ss& C o., P a ris.
Commercial and Travelers’ Credits.
S ills o f Exchange.
Cable Transfers.
THE NEW YORK
Produce Exchange Bank.
CAPITAL, $ 1 ,000 ,00 0.
Transacts a general banking business.
v
Receives accounts o f banks, bankers and corpora
tions upon favorable terms,
Issues certificates of deposit bearing interest.
Makes loans upon approved merchandise.
Solicits mercantile and personal accounts.
M ills o f E x ch an ge D ra w n o n th e City
B a n k , L im ited, L o n d o n .
C ir C t la r L e t t e r s o f C re d it is s u e d fo r
t r a v e l e r s ’ u s e , an d C o m m e r e ia l C re d its
•opened iu E u r o p e , A s ia , S o u th A m e r ic a
stud (he West Indie*.
Member N. Y. Stock Exoh’ge
J. Kennedy T od & C o.,
NO. 63 WILLIAM STREET,
BANKERS.
Act as Agents for Banks, Bankers and Rallroa
Companies.
Issue commercial credits, also foreign and domestic
travelers’ létters of credit in pounds sterling Scdollars
Offer Investm ent Securities.
AND ON THB
N A T IO N A L
ALEXANDER BARING.
J. K e n n e d y t o d .
H . O. N o rth co te .
Buy and sell bonds, stocks and securities In all Am
erican, Canadian, British and Dutch markets on oom
mission; Collect dividends, coupons and foreign and
Inland Drafts.
1
Sell Bills of Exchange on
MELVILLE, EVANS A. CO., } i.ONDON
C. J. HAMBRO dfclSQN,
jLOHUOfl
M ARCUAR», KRAUSS Sc CO., I p . w , a
HOTTING UER Sc CO.,
j p a k is .
Geo. Coppell .
Thos. Ma it la n d .
G erald L. H o yt , Member N. Y. Stock Exch.
Maitland, Phelps & C o.,
B A N
K E R S
AND
COMMISSION
22
MERCHANTS,
Sc 2 4 E xch an ge P laee,
Canadian B a n k o f Com m erce.
CAPITAL, $6,000 000.
SURPLUS, $500,000.
J. H. ftOADBY & ALEX. LAIRD,
AGENTS,
16 E X C H A N G E P L A C E , N E W Y O R K
BUY AND SELL STERLING EXCHANGE, CABLH
TRANSFERS. ETC.
ISSUES COMMERCIAL CREDITS, AVAILABLE
IN ALL PARTS OF THE WORLD.
V n u k o v s a titf
John H . Davis & C o.,
BANKERS AND BROKERS,
NO. 1 0 W A L L S T .. N E W Y O R K .
Orders for Stocks and Bonds executed at all
Exchanges.
Especial attention given to supplying hlgh-clasa
IN V E S T M E N T S E C U R IT IE S .
Douglas & Jones,
72 Broadway,
13 New Street.
(Members of the N. Y. Stock Exchange.)
Buy and sell Stocks and Bonds for cash or on m a i l
gin. Interest allowed on deposits. Córrese ondence
solicited.
JOHN F. DOUGLAS.
Of the late firm of lawson, Douglas Sc Co1
WILLARD H. JONES,
Late of W.S.Lawson Sc Co..Member N.Y.Stook Bxob
J. L. Robertson,
BOND AND STO CK B R O K E R ,
Dealer in Investment Securities,
No. 7 NASSAU STREET,
(Continental National Bank Building,)
N ew Y o rk .
W m . V . Ca r o l i n ,
Member N.Y. Stock Exchange.
C h a r l e s F. C o x .
Carolin & Cox,
Bankers and Commission Stock Brokers
NO. 55 BROADWAY,
Branch Office, 315 Madison Av^cor. 42d St—NewYork
Deposits received subject to check at sight, and In
terest allowed on dally balances. All stocks and secur
ities dealt in at the N.Y. Stock Exchange bought and
sold on commission, for cash or upon margin.
James D . Simons,
J
(Formerly SIMONS Sc CHEW.)
B A N K E R Sc B R O K E R ,
4 Exchange Court Sc 32 Broadway, N, Y ,
All Securities dealt in at N. Y. Stock Exchange
bought and sold for Cash or on Margin. Special atten
tion given investments. Correspondence solicited. MemberN. Y. Stock Exchange.
Member N. Y. Produce Exchange.
Ne w Y o r k .
BILLS OF EXCHANGE, LETTERS OF CREDIT,
TELEGRAPHIC TRANSFERS OF MONEY ON
LONDON, PARIS, MEXICO, CUBA, Ac., &0.
St e w a r t B r o w n ’ s S ons »
THE
ST O C K B R O K E R S ,
I N V E S T M E N T CO.
o f Philadelphia.
64 B ro a d w a y Sc 19 N ew S t., N ew Y o r k .
310 C H E S T N U T
STREET
C a p ita l, $ 4 ,0 0 0 ,0 0 0 . F u ll P a id .
CONDUCTS A GENERAL BANKING BUSINESS
Allows interest on cash deposits, subject to check
or on Certificates.
Buys and sells Bills of Exchange, drawing on
Baring Bros. Sc Co., London; Perier FreresetCle,
Paris; Mendelssohn & Co., Berlin, and on Paul
Mendelssohn-Bartholdy, Hamburg.
Negotiates Securities, Railroad, State, Municipa
Offers for sale first-class Investment Securities.
WILLIAM BROCKIE,President.
WHARTON BARKER, Vice-President.
HENRY M. HOYT, JR., Treasurer.
ETHBLBERT WATTS, Secretary.
Board of Directors—William Brockie, George 8
Pepper, Morton McMichael, Wharton Barker, Henry
C. Gibson, T. Wistar Brown, Isaac H. Clothier.
Advisory Committee of Stockholders.—William
Potter, George M. Troutman, Gustavus English,
William Pepper, M. D., Thomas Dolan, John G,
Reading, Joseph E. Gillingham, John Wanamaker
Her ry E. Smith, Cralge Lippincott, Hamilton
Disston, Clayton French, Francis Rawle, William
j ¡Wood, Walter Garrett, _
F. H. Smith,
BANKER
NO. 2 0
BROAD
& BROKER,
S T ., N E W
YORK.
S p e c u la tiv e A c co u n ts S o lic it e d .
Orders received in Stocks for large or small
amounts, either for cash or on margin.
P a rticu la r a tte n tio n g iv e n t o in v e stm en ts.
All issues of bonds, either in default or other
wise, carefully quoted.
TWENTY YEARS’ EXPERIENCE.
F. H. Smith , 1 Members Consolidated Btook and
8. W. Smith , j Petroleum Exchange, New York.
S. B
E.
a il e y
,
61« P IN E S T R E E T .
DEALINGS IN
I N S U R A N C E
A
STOCKS
S P E C IA L T Y .
Cash paid at once for the above securities; or ttt)I
will be sold qq commission at seller’s option.
January
THE
7, 1888.]
.............. -
.
■
CHRONICLE,
-----------■. '
..
.
-
• •• ................................
.
.
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%&u%8X* auÄ 'gxalMKS in U r n ^ o x l i ©it#.
F . M. L o c k w o o d ,
Taintor & H olt,
H . B. Hollins & Co.,
BANKERS,
BANKERS,
N o. 11 W a ll St., Cor. N ew , N ew Y o r k .
TRANSACT a GENERAL BANKING business.
DEPOSITS received and INTEREST allowed on
balances.
Buy and sell GOVERNMENT, MUNICIPAL and
RAILROAD Securities.
Private telegraph wires to Providence and Boston
GILES E. TAITOR,
GEO. H. HOLT
G. D. L’HUILIER.
Cb a s . J. T ownsend ,
Lansing C. W ashburn
Member N.V. Stock Exchange.
Jno. F. T ownsend , Special Partner.
18 W A L L and 3 NASSAU S T R E E T S
NEW Y O R K .
Transact a General Banking Business.
DEALERS IN GOVERNMENT, MUNICIPAL AND
RAILROAD SECURITIES.
DEMAND DEPOSIT ACCOUNTS RECEIVED.
INTEREST ALLOWED ON DAILY BALANCES
E. H . Harriman & Co,
W m. M. H a r r im a n ,
)
Nicholas f is h ,
>
Edwd H. H a r r i m a n , Special, )
BANKERS AND BROKERS,
Townsend & Washburn,
bankers
and
. h e r o n Cr o b m a n .
Lockw ood & Crosman*
B A N K E R S AND B R O K E R
N o. 31 N ew Street an d N o. 1 E x ch a n x e
C ourt, N ew Yorkt.
Private telegraph wires to Chicago, Boston, Phil*»
delphla and Baltimore.
We solicit orders for the purchase or sale o f a y of
the securities of the
P h ila d e lp h ia & R ea d in g R R . C o.
on the Philadelphia or New York Stock Exehangee-
E Q U I T A B L E B U IL D IN G ,
1 2 0 B roa d w a y.
brokers,
j
J. C. W alcott & C o.,
N o. 6 W a ll Street, N ew York»
BANKERS AND BROKERS,
Stocks and Bonds Bought and Sold on Commission
for. cash or on margin.
Special attention given to Unlisted Securities.
Deposits receivsd, subject to Check at Sight.
Correspondence solicited.
N o. 2 4 P in e Street, N ew Y o r k .
J ames T. Closson .
John b . Dumont
H u m a n Ci .a r k . Special Partner.
Closson & Dumont,
BANKERS AND BROKERS,
N o. 4 0 W a ll Street, N ew Y o r k .
All stocks and securities dealt in at the New York
Stock Exchange bought and sold on commission, for
cash or on margin. Deposits received and Interest
allowed on balances.
Simon Borg & C o.,
N o. 2 6 NASSAU S T ., N E W Y O R K ,
DEALERS IN ALL KINDS 0 7
Railroad and Investment Securities.
South ern Securities a Sp e c ia l t y .
J. S. F arlee .
Robert D. far leb .
J. S. Farlee fy Brother,
J N o. 7 NASSAU S T ., N E W Y O R K ,
BROKERS AND DEALERS IN
INVESTM ENT
T. 8. Y oung . Jr .,
Member N.Y. Stock Exchange.
W. S. Nelson
Young & Nelson,
BANKERS AND BROKERS,
3 6 W a ll Street, New Y o rk .
All stocks and securities dealt in at the New York
Stock Exchange bought and'sold on commission, for
cash or on margin. Deposits received and interest
allowed on balances.
2 4 BROAD
k
Green & Bateman,
BANKERS,
10 W a ll Street, N ew Y o r k .
STR EET,
N ew Y o rn .
Stocks, Bonds and Cotton,
BANKERS AND BROKERS,
2 6 P IN E S T R E E T , N E W Y O R K .
Malcolm Campbell , Member of N. Y. Stock Bxch.
Transact a General Banking Business
Interest allowed on Deposits.
W. H. Dickinson ,
Edw ard p . a l u n g
Member N. Y. Stock Exohange.
Dickinson & A iling,
BANKERS
AND
BROKEB
N o. 3 0 P in e Street, N ew Y o r k .
Buy and sell at N. Y. Stock Exchange, for IN
VESTMENT or on MARGIN, all classes of Stock»
and Bonds, and allow interest on deposits, subject t o
check at sight.
John B. Manning,
BANKER AND BROKER.
BANKERS AND BROKERS,
37 BROAD STREET, NEW YO R K ,
BANKERS AND BROKERS,
Alexander Campbell & Co.,
N o. 14 \FfiU Street, N ew Y o r k C R t,
■ SO U T H E R N 'S E C U R IT IE S 1
Lathrop, Smith & Oliphant,
W . H. Goadby &■ Co.>
Dealer in Miscellaneous Securities
MILLS BUILDING (3d Floor,)
Rooms 25 & 26.
35 W A L L STREET.
STATE AND CITY BONDS OF GEORGIA, also
SECT? RITIES OF THE CENTRAL KK. & BANKING CO. OF GEORGIA, A SPECIALTY.
Investors wishing to buy or «ell are invited to call
or .correspond. Prompt and personal attention
given to. all orders.
L. C. La t h r o p . Oscar B. Smith . J.H.O l iph a n t
Members New York Stook Exohange, New York
Cotton Exchange, and Board of Trade Chicago.
A . Dutenhofer,
AND
Stocks and Bonds bought and sold on Commission.
Collections made and loans negotiated.
Dividends and Interest collected.
Deposits received subject to Draft.
Interest allowed. Investment securities ä specialty.
W e issue a Financial Report weekly.
Jos. C. W alcott ,
) Members of the New York
FRAVir F. DTrK-TTVSON. f
Rt.OOk VlTflbangC.
Office of the Pneumatic Steering Gear & Mfg.Co—
RONDS,
STATE, MUNICIPAL AND APPROVED RAIL
ROAD BONDS.
Correspondence Solicited .
No.
B R O K E R ,
Transact a General Banking Business,.
BANKERS,
18
W ALL
STR EET,
NEW
YORK.
R. J. Kimball & Co.*
[Established in 1865.]
A SPECIALTY.
BANKERS AND BROKERS,
MEMBERS 0 7 NEW YORK STOCK EXCHANGE.
State, Municipal and Railway Bonds and Coupons
Allow interest on deposits subject to sight check.
16 & 18 Brpa,d Street, N ew Yorjk,
bought and sold at best market rates. Investors or Buy and sell on commission stocks and bonds either
dealers wishing to buy or sell are invited to communi* for cash or on margin, and deal in
Members o f the New York Stock Exchange and
cate with ns.
' the Philadelphia Stock'Exchange.
'
Member of the New York stock Exchange.
Investment Securities.
R o b e r t J. K im b a l l .
A l f r e d B. L o u n s b e r r
A. M. K idder ,
w a y l a n d Tr a s k ,
H. j . m orse ,
Ch as . d . Ma r v in ,
H e n r y G. Ca m p b e l l , l Mqmbers N. Y. Stock
J. B o r d e n H a k r i m a n , f ‘ 1' Exchange. ' ‘
E sta b lish ed 1 8 6 5 .
Rolston & Bass,
NO. 20 BROAD STREET, NEW YORK.
STO CKS, BONDS,
AN D M ISC E LLA N E O U S SE C U R IT IE S
Correspondence solicited.
Quotations cheerfully furnished
W m . h . R olston ,
w . A le x , b a s s , Jr.
Member N. Y. Stock Exch’ge.
W alston H. Brow n .
F red , a , Brow n .
H erbert P. Brown .
H . G. Campbell & Co.*
¿ V ld b e ifa u
C o»,
BANKER'S,
57 Broadway, opp. Exchange Place, N. Y .
Branch Office, 241 La Salle.St.,,Chicago.
B A N K E R S AND B R O K E R S ,
9
New Street and .74 Bppadw ay,
NEW
YORK
Hamilton & Bishop,
TRANSACT A GENERAL BANKING BUSINESS,
BANKERS AND BROKERS,
INCLUDING -THE PCRCBASB_AND S A LE D F
STOCKS AND BONDS FQR.CASH QR ONMA&- N o. 9 6 .B R O A D W A Y , N E W Y O R K *
(Members New York 'Stock Exchange.)’
GIN. BUY AND SELL INVESTMENT SECURI
Accounts of Banks, Bankers and others received.
BANKERS.
TIES. INTEREST ALLOWED ON DEPOSITS
Interest allowed Unbalances. A strictly Comnn**io»
Accounts of Corporations and Individuals received SUBJECT TO CHECK AT SIGHT.
Business in the purchase and pale of stocks and bond*.
P. 0 . Box 447,
upon Liberal Terms. Securities Bought and Sold on
private Telegraph Wire to AIbany,Troy, Syracuse.
D. A. BOODY.
C. W. McLKLLAN.
Commission.
Rochester, Utica, Buffalo, Cleveland and Chicago.
Reuben Le la n d .
W m . f . L e s s l ie .
N o. 2 0 NASSAU S T R E E T ,
Draw oh City Bank of London in amounts, to sulk
H e n r y T .B o o d y .
5 * r 1 •Special attention given to Securities, for investment
NEW Y O R K
Walston H. Brown & Bros
Gilman, Son & C o.,
BANKERS,
N o, 6 2
CEDAR
STR EET.
C. J. Turner & Son,
BANKERS,
C N I T E D B A NK 3 U I L DING,
W a ll Street, eorner B r o a d w a y .
16 Years’ Membership in the N.Y. Stock Exchange
BANKER
AND
BROKER,
16 A 18 BROAD ST., NEW YORK.
STOCKS, BONDS <& O Ò kM E R Ó ÌA L P A P E R .
In addition to a General Banking Business, Buy
and bonds bought and sold on commission
Transact a general hanking business, including
and Sell Government Bonds and Investment Securi atStocks
New York Stock Exchange. Advances made on the purchase aud sale Of stocks and bonds for caste
ties.
or on margin.
business paper and other securities.
iv
[VOL, XLVI«
THE 0.
Qxnst WompVLUi&z.
Q w est
Spretai Investments.
© tm x p a td m
Union Trust Company United States Trust Co.
St., N. T.
78 Broadway, cor.
JARVIS-CONKLIN
OF N E W YORK,
OF N EW Y O R K ,
Sector
C A P I T A L ...............................? 1 * 0 0 0 ,0 0 0
H JR P L IJS , - - - - - - $ 2 ,5 0 0 ,0 0 0
MORTGAGE TRUST 00.,
N o. 4 9 W A L L S T R E E T .
Capital and Surplus,
- 2 6 ,0 0 0 ,0 0 0
This company is a legal depository for moneys
paid into court, and is authorized to act as guardian
Authorized to act as Executor, Administrator or I n t e r e s t a l l o w e d o n d e p o s i t s
which maybe made at any time and withdrawn
Guardian, Receiver, or Trustee, and is
after fiv e days’ notice, and will be entitled to inter
A LEGAL DEPOSITOR f FOR MONET.
est for the whole time they may remain with the
Accepts the transfer agency and registry o f stocks, company.
,
.
.
and acts as Trustee o f mortgages o f corporations.
Executors, administrators, or trustees of estates,
Allows interest on deposits, which may be made at and females unaccustomed to the transaction of
Any time, and withdrawn on five days’ notice, with business, as well as religious and benevolent instituinterest ¿or the whole time they remain with the tions, will find this company a convenient deposit
a . STEWART, President,
0<For*he convenience o f depositors this company ory for mon
also opens current accounts subject, in accordance
GEORGE BLISS, Vice-President,
with its rules, to check at sight, and allows interest
JAMES 8. CLARK, Second Vice-Pres’t
upon the resulting daily balances. Such checks pass
TRUSTEES:
through the Clearing House.
TRUSTEES: „
_
Charles B. Bill, John A. Stewart, George BUss,
ffm . Whitewright,
James M. McLean,
Wilson G. Hunt, S.M.Bucki’gham, William Libbey,
Henry A . Kent,'
Ambrose C. Kingsland,
Thos. Slocomb, H. E. Lawrence, John C. Brown,
R. T. Wilson, ‘
James H. Ogilvie,
Clinton Gilbert, Isaac N. Phelps, Edward Cooper,
Wm. F. Russell,
S. T. Fairchild.
Daniel D. Lord, Erastus Coming, W.Bay’rdCutting
O. D. Wood,
I. H. Frothingham,
Samuel Sloan, S. B.Chittenden, Chas^lS. Smith.
James N. Platt,
George A «Jarvis,
James Low,
JohnH.Rhoades, Wm.Rockefeiler,
D. C. Hays,
C. Vanderbilt,
Wm. W . Phelps, Anson P. Stokes, Alex. E. Orr,
Wm. Alex. Duer,
A . A. Low,
D. Willis James, RoDt.B.Minturn, Wm.H.Macy, Jr.
Charles H. Leland,
G. G.Williams,
John J. Astor, iGeo. H. Warren.
Edward King,
R. G. Remsen,
HENRY L. THORNELL, Secretary.
E. B. Wesley,
Edward Schell,
LOUIS G. HAMPTON, Assistant Secretary.
D. H. McAlpin,
Amasa J. Parker
George B. Carhart,
Samuel F. Barger,
Chauncey M Depew,
Geo. O. Magoun.
H YanRennselaerKennedy.
EXECUTIVE COMMITTEE:
Cor. of Montagne and Clinton 8ts.,Brookiyn, N.Y.
Wm. Whitewright,
G. G.Williams,
CAPITAL (FULLY PAID) - 2 1 ,0 0 0 ,0 0 0
James McLean,
E. B. Wesley,
Geo. C. Magoun,
C. D. Wood,
This company is authorized by special charter to
D. C. Hays,
A. C. Kingsland.
act as receiver, trustee, guardian, executor or adminEDWARD KING, President,
JAMES M. MCLEAN, First Vice-Pres’t,
It can act as agent in the sale or management of
JAMES H. OGILVIE, Second Vice-Pres’t.
real estate, collect interest or dividends, receive re
gistry and transfer books, or make purchase and sale
A. O' RONALDSON, Secretary.
A. W. KELLEY, Assistant Secretary.
o f 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.CORLISS, Vice-Pres’t.
611 AND 613 CHESTNUT STREET,
TRUSTEES.
Josiah O. Low, E. F. Knowlton, H’v K. Sheldon,
P H IL A D E L P H IA .
Alex. M. White, John T. Martin, C. D. Wood,
Authorized Capital.......................................
A. A. Low,
Fred. Cromwell, Wm. H.Male,
Paid-up Capital............................................. 500,000 Alex. McCue,
Ripley Ropes,
John P. Rolfe,
Abram B.Baylis,
Acts as Executor, Administrator, Assignee, etc. Mioh’l Chauncey, E. W. Corlies.
H. W,
Maxwell,
----------And executes trusts o f every description known to Wm, B, Kendall.lH.E.Pierrepont, —.
J a m b s Ross Cu r b a n , Secretary.
F r e d e r ic k C. Colton . Asst. Seov
^AU^trust assets kept separate from those of the Gomrinany.
Burglar-Proof Safes to rent at $5 to $60 per annum.
Wills kept in vaults without charge.
Bonds, Stocks and other valuables taken under
Guarantee.
_
,
.
. „
Repository for Western Mortgage loans, bearing 6
and 7 per cent interest. Principal and interest guar
anteed.
Money received on deposit at Interest.
J . SIMPSON AFRICA, Pres.; J. G. READING, Y.-P.
MAHLON 8. STOKES, Treasurer & Secretary.
WM. H. PRICE, Trust Officer.
DIRECTORS.
The Undersigned hold REGULAR AUCTION
J.SlmpsonAfrlca Alfred S.Gillett, Joseph Wright,
John T. Monroe,
BALES, of all classes of
C.P.Tumer, M.D. Wm. 8. Price,
J.
G.
Reading,
Thos. R. Patton,
W. J. Nead,
STOCKS AND BONDS,
Wm. H. Lucas, D.H.Agnew,M.D Jos. I, Keefe,
Rob’t Patterson, Theo. C. Engel, Jacob Nayler,
ON
Thos. G. Hood, Edw’dL.Perkins, William Watson
WEDNESDAYS AND SATURDAYS.
Samuel Riddle, G l e n R id d l e , Pa.; Dr. George W.
¡Reiiy,H a r r i s b d b g ,Pa.; Henry S.Bckert, READING; A D R IA N H . M U L L E R & SON,
Edmund S. Doty, Mif f l in t o w n ; W. W. H. Davis,
NO. 1 PINE STREET. NEW YORK.
D o y l e s town ; R. E. Monaghan, W e st Ch e s t e r .
K A N SA S C IT Y , H O .
CAPITAL PAID UP,
SURPLUS, - Reserve Liability
The Brooklyn Trust C o.,
The Union Trust Cb.,
gp ttin X %umstmaitB.
STOCKS and BONDS
A t Auction.
Metropolitan Trust C o.,
mtt.t.r b u il d in g ,
ALL OF THE
35 W a l l St ., N e w Y o r k .
P A I D -U P C A P IT A L , -
-
$ 1 ,0 0 0 ,0 0 0
Designated as a legal depository by order of
8upreme Court. Receive deposits o f money on
Interest, act as fiscal or transfer agent, or trustee
for corporations, and accept and execute any legal
trusts from persons or corporations, on as favorable
terms as other similar companies.
THOMAS HILLHOUSE, President.
FREDERIC D. TAPPEN, Vice-President.
CHARLES M. JBSUP, Secretary.
THE
Real Estate Trust Co.
OF PHILADELPHIA,
N o. 1340 Chestnut Street.
C A P I T A L , ............................... 2 5 0 0 ,0 0 0
Receives deposits o f money payable by check and
allows interest thereon; also receives for safe
keeping securities and other valuables, and
rents safe deposit boxes in burglar-proof
vaults.
Receives Trusts o f every description, acting as
executor, administrator, assignee, etc., and
executing surety for the faithful performance
o f any trust or office.
Acts as Agent or Attorney for the sale or manage
ment o f real estate, and insures titles to real
estate and mortgages.
OFFICERS:
President—FRANK K. HIPPLE.
Secretary—WILLIAM R. PHILLER.
Treasurer—WILLIAM F. NORTH.
- Real Estate Officer—THOMAS B. PROSSER.
DIRECTORS:
George Phlller,
Frank K. Hippie,
Edward T. Steel,
Henry C. Gibson,
Charles W. Henry,
Lemuel Coffin,
John F. Bets,
Beauveau Borie,
Thomas Dolan,
William M. Slngerly.
John Wanamaker,
R. Dale Benson.
Solicitor—GEORGE JUNK1N.
T r u s t C o .’ s S t o c k s .
Total
21 , 0 0 0 ,0 0 0
1 0 0 ,0 0 0
1, 0 0 0 ,0 0 0
- s iT io ö T o ö ö
-
This Company offers for sale at par and
accrued interest its
SIX P E R CENT D E B E N T U R E S ,
payable half-yearly at the office of THE MER
CANTILE TRUST CO., NEW YORK. These
Debentures run for Ten years, but with the
option of redemption at the end of Five years
They are direct obligations of the Comp any
and are further secured by an equal amount of
Real Estate Mortgages on improved and pro
ductive Real Estate worth from three to five
times the amount of the mortgages, held by THE
MERCANTILE TRUST CO., which under special
Articles of Agreement acts as Trustee for the
holders of the Debentures. They are issued in
denominations of $500, $1,000 and $5,000
These Debentures are a very desirable class
of investments for Estates and Trust Fundsand for Individuals and corporations desiring
an exceedingly safe investment, with a com,
paratively high rate of interest.
M o r t g a g e s o n H e a l E sta te in KansaB City,
and improved farms in Kansas and Missouri,
at not to exceed 40 per cent of the value, are
also offered investors.
Write for farther information and references
to any one of the company’s offices at
K A N SA S C I T Y . H O .,
N E W Y O R K , 239 Broadway;
P R O V ID E N C E , R . I., 27 Custom House St.;
P H I A D E L P H I A , P A ., 1448 So. 4th St.;
ROSTON, 113 Devonshire Street;
LONDON, E N G L A N D , 95 Gresham Street.
FOB SAIE:
SECOND-HAND
Railway
Equipment
W e offer the above at low prices for cash
or on easy terms or Car Trust» or will
exchange for good securities. Whether
you wish to buy, sell, or trade, it will pay
you to write us for full particulars.
THE NEW YORK EQUIPMENT CO.,
New Y o rk
(Successors to WALKLBY & CO.),
AND
10 W A L L S T R E E T , N E W Y O R K ,
B ro o k ly n Companies’
J a m e s I r v in e , Pres’t.
L. V. W a l k l e y , Sec’ y
BOUGHT AND SOLD BY
W M .
C. N O Y E S,
96 B roa d w a y .
See my quotations of Trust and Telegraph Stooks
in Daily Indicator and Saturday’s Evening Post.
MINNEAPOLIS 6 PER CENT HOLD
DEBENTURES,
Q U A D R U PLY SECURED.
SAFE AND MOST DESIRABLE SECURITIES.
Send for circular or apply to
N E H E R & C A R P E N T E R , B an k ers,
THE
M ID D L E S E X R A N K IN G C O .,
MIDDLETOWN, CONN.
Capital Stock, Paid up, - - - - 2 3 0 0 ,0 0 0
S I X PER CENT FIRST MORTGAGE
DEBENTURE BONDS,
Interest payable at Fourth National Bank, New
York. Also Guaranteed First Mortgages. Organized
1 8 7 5 . Under same supervision as the Savings
Banks. Regularly examined by the State Bank
Commissioners. Security Co., Hartford, trustee.
Bend for pamphlet.
TROY, N. Y.
Eastern Managers for Minneapolis Debenture and
Northwestern Guaranty Loan Companies.
Authorized Capital, $4,000,00''- "aid-up Capital.
$350,000; Surplus, $50,701.
H . L. Grant,
N o.
145
BROAD W AY«
NEW YORK.
CITY RAILROAD STOCKS & BONDS
rjiHE INVESTORS {AGENCY
(M. L. SCUDDER, JB., PROPRIETOR,’
240 LA SALLE ST., CHICAGO. ILL.
Reports Concerning Affairs of Corporations
RAILROADS ESPECIALLY.
Large Library Railroad Documents,
Competent Experts.
Confidential Reports.
Moderate Charges.
Send for circular.
BOUGHT AND SOLD.
See Quotation« of City Railroads In thl»!paper.
Albert Pearce,
1 6 & 1 8 B R O A D S T .,
BROKER IN ALT. KINDS OF INVESTMENT
BONDS, MISCELLANEOUS SECURITIES
AND DEFAULTED BONDS.
CORRESPONDENCE SOLICITED.
January
THE CHRONICLE.
7,1888. J
d & o p v w ttu w & U ip
E l b e r t A . B r in c k e r h o f f , J a c ob T. V a n W y c k ,
J o h n Spen cer T u r n e r ,
T h o m a s M. T u r n e r .
H e n r y d . P olh em u s ,
TYRIN CK ERH O FF,
T U R N FR & C O ,JJ This is to certify that we, the undersigned, de
sirous o f forming a limited partnership under the
laws of the State o f New York in such case made
and provided, do hereby make and severally sign
the following certificate:
First. That the name of the firm under which such
partnership is to be conducted is Brinckerhoff,
Turner & Co.
Second. That the general nature o f the business
intended to be transacted by such partnership is
that of Commission merchants and dealers in cotton
and cotton duck and goods, and in buying and selling
such other articles as are usually bought and sold in
such business.
Third. That the names o f all the general and
special partners interested in said partnership are
as follows: John Spencer Turner, who resides at
No. 57 Bemsen Street, in the City o f Brooklyn,
County o f Kings and State of New York; Thomas
M. Turner,'who resides at the Hotel Normandie, in
the City, County and State o f New York; Jacob T.
Van Wyck, who resides at the Gilsey House, in the
City, County and State of New York, and Gilbert H.
Turner, who resides in the City o f Yonkers, County
o f Westchester and State of New York, are the gen
eral partners: and Elbert A. Brinckerhoff, who re
sides in the Village and Township o f Englewood, in
the County o f Bergen and State o f New Jersey, and
Henry D. Polhemus, who resides at No, 88 Bemsen
Street, in the City of Brooklyn, Countv of Kings and
State of New York, are the special partners.
Fourth. That the amount of capital which each
special partner has contributed to the common
stock, in addition to the capital contributed bv the
general partners, is as follows, that is to say: Elbert
A. Brinckerhoff has contributed as capital to the
common stock the sum of one hundred thousand
dollars in cash and Henry D. Polhemus has con
tributed as capital to the common stock the sum of
one hundred thousand dollars in cash.
Fifth. The period at which the said partnership is
to commence is the second day of January, 1888,
and the period at which the said partnership is to
terminate is the thirty-first day of December, 1889.
Dated New York, December 28,1887.
J ohn Sp e n c e r T u r n e r , G il b e r t H. T u r n e r ,
E l b e r t A . B r in c k e r h o f f ,
H e n r y d . P olh em u s.
State of "New York, City and County of New York, ss.:
On this twenty-eighth day of December, 1887, be
fore me personally came the above-named John
Spencer Turner, Thomas M. Turner, Jacob T. Van
Wyck, Gilbert H. Turner, Elbert A. Brinckerhoff
and Henry D. Polhemus, to me severally personally
known and known to me to be the individuals de
scribed in and who executed the foregoing certifi
cate, and they severally acknowledged to me that
they executed the same.
J. E d w . Sw a n s i rom ,
Notary Public, Kings Co.
Certificate filed in N. Y. Co.
State of New York, City and County of New York, ss.:
John Spencer Turner, being duly sworn, says that
he is one o f the general partners o f the firm of
Brinckerhoff, Turner & Co. named in the above cer
tificate; that the several sums specified in the said
certificate to have been contributed by each o f the
special partners respectively to the common stock of
said partnership—to wit, the sum o f one hundred
thousand dollars, stated to have been contributed by
Elbert A. Brinckerhoff, and the sum o f one hundred
thousand dollars, stated to have been contributed
by Henry D. Polhemus—have been, and each of the
said sums has been, actually and in good faith paid
in cash.
J ohn Spen cer T u r n e r .
Sworn to before me this 30th day o f December,
1887.
j . E d w . Sw a n s t r o m ,
Notary Public, Kings Co. Certificate filed in N.Y. Co.
TJR IN C K E R H O F F,
TU R N E R
&
C O .—
JL> Whereas the undersigned, Elbert A. Brincker
hoff, John Spencer Turner, Henry D. Polhemus,
Jacob T. Van Wyck and Thomas H. Turner, were
all the partners o f the former general copartner
ship of •‘Brinckerhoff, Turner A Co.” which copart
nership had business relations with foreign coun
tries, and had transacted business in this State for a
ieriod of five years and upward; and whereas a
imited partnership, formed o f said John Spencer
Turner, Thomas M. Turner, Jacob T. Van Wyck
and Gilbert H. Turner, as general partners, and El
bert A. Brinckerhoff and Henry D. Polhemus as
special partners, has this day been formed; and
whereas all the partners of said former general co
partnership hereby consent to the use o f said firm
name of “ Brinckerhoff, Turner & Co.” by such new
limited copartnership, and they elect to continue
their business under the name o f said prior general
copartnership.
Now, therefore, in conformity with the acts o f the
Legislature of the State o f New York in such cases
made and provided, we, the undersigned, do hereby
certify and declare that the persons dealing under
the said firm name o f “ Brinckerhoff, Turner & Co.”
are the undersigned, John Spencer Turner, whose
lace of abode is in tne City of Brooklyn, County of
lings and State o f New York, Thomas M. Turner,
whose place o f abode is in the City, County and
State o f New York, Jacob T. Van Wyck, whose place
o f abode is in the City, County and State o f New
York, and Gilbert H. Turner, whose place o f abode
is in the City o f Yonkers. County o f Westchester
and State o f New York, ail of whom are general
artners; and the undersigned, Elbert A. Brinckerofli whose place of abode is in the village and town
ship of Englewood, Bergen County, New Jersey, in
and Henry D. Polhemus, whose place o f abode is
the City of Brooklyn, County o f Kings and State of
New York, who are the special partners, and that
our principal place o f business is in the City, County
and State o f New York,
i Dated New York, December 38,1887.
i
g
E
J o h n Spe n c e r T u r n e r ,G il b e r t h . T u r n e r ,
T h o m a s m . T u r n e r , E l b e r t A . B r in c k e r h o f f ,
Jacob T. v a n W y c k , H e n r y d . po lh em u s.
State of New York, City and County o f New York, ss.:
On this twenty-eighth day o f December, 1887, be
fore me personally came the above-named John
Spencer Turner, Thomas M. Turner, Jacob T. Van
Wyck, Gilbert H. Turner, Elbert A. Brinckerhoff
and Henry D. Polhemus, to me severally known and
known to me to be the individuals described in and
who executed the foregoing instrument, and they
severally acknowledged thay they executed the
game.
j . e d w . Sw a n s t r o m .
Notary Public, Kingk Co. Certificate filed in N. Y. Co.
ffitiaucial.
R o tie z * .
P R I N O R E R H O F P , TU R N ER & CO.—No.
X) tiee is hereby given that the partnership of
Brinckerhoff, Turner & Co., composed of the under
signed, is dissolved by mutual consent, to take
effect on and after the second day o f January, 1888.
Dated New York, December 38th 1887.
T homas m . T u r n er,
J ac ob t . Va n W y c k ,
▼
A F F IC E
OF
TH E
DENVER &
R IO
GRANDE RAILROAD CO., 47 W ILLIAM ST.
New Y ork , Dec. 1,1887.
DIVIDEND NO. 2.
The Board of Directors have this day declared a
dividend o f TWO AND ONE-HALF (2M) PER
CENT
the preferred capital stock, payable on the
12th day o f January, 1888; of which ONE AND
ONE-QUARTER (1%) PER CENT will be paid in
cash out o f the net earnings of the Company now
in its Treasury, and the balance—ONE AND ONEQUARTER (lJi) PERCENT—in scrip, bearing five
per cent interest, redeemable at the pleasure o f the
Company.
Transfer books of the preferred stock will close
for this purpose on the 30th day of December inst
and reopen on the 13th day of January, 1888.
By order o f the Board of Directors,
WILLIAM WAGNER, Secretary.
OFFICE
CE N T R A L
PAC IFIC
R A IL
ROAD c o m p a n y , San Francisco , Ca l .—
December 31,1887.
ÖNE DOLLAR PER SHARE on the capital stock
o f this company will be paid on and after February
1, 1888, on presentation and surrender of Dividend
Warrant No. 18 at the office of the Southern Pacific
Company, No. 23 Broad Street, New York City.
Transfer books will be closed at 2:15 o clock P.M.,
January 18, 1888, and opened at 10 o’clock A.M..
February 2,1888.
By order of the Board of Directors.
E. H. MILLER, J r ., Secretary.
jy ^ A N H A T T A N
SAVINGS IN S T IT U
TION, N e w Y o r k , Dec. 24,1887.
SEVENTY-THIRD SEMI-ANNUAL DIVIDEND.
The Trustees of this Institution have declared
interest on all sums not exceeding $3,000 remaining
on deposit during the three or six months ending
on the 31st inst.. at the rate of THREE AND ONEHALF PER CENT per annum, payable on and after
the third Monday in January next.
EDWARD SCHELL, President.
C. F. A l y o r d , Secretary.
D E E C H CREEK R A IL R O A D CO.
-D
GRAND CENTRAL DEPOT.
New Y ork , Dee. 28,1887.
At a meeting of the board of directors, held on
WEDNESDAY, the 21st inst., a dividend was de
clared o f 2H PER CENT on the preferred stock of
the company, payable at this office on and after
MONDAY;Jan. 16, 1888; and for the purposes of
this dividend the transfer books for preferred stock
will be closed on Friday, the 80th inst., at 3 o’clock
P. M., to be reopened, on the morning of Tuesday.
Jan. 17,1888.
ALLYN COX, Treasurer.
Q O N T IN E N T A I N A T IO N A L B A N K .
New Y o rk , Dec. 28,1887.
FIFTY-EIGHTH DIVIDEND.
The Directors o f this Bank have to-day declared
a semi-annual dividend of FOUR (4) PER CENT,
payable Jan. 3,1888, to which date, from Dec. 80,
the transfer books will be closed.
ALFRED H. TIMPSON. Cashier.
THE HOLDERS OF MORTGAGE BONDS OF THE
WABASH
ST. LOUIS & PACIFIC
RAILWAY CO.
On L ines East o f the M ississippi R iv e r ,
are requested to deposit their bonds on and after
Monday, Nov. 28,1887,with the Central Trust Co.,No.
54 Wall Street, New York, in exchange for trust re
ceipts o f that company to be replaced by engraved
certificates as soon as prepared, a plan of reorgani
zation and consolidation having been agreed upon
by representatives of the mortgage bondholders
and the Purchasing Committee.
The salient points of the new plan are:
1. Cash for all overdue coupons o f the first mort
gage and funded debt bonds or scrip, except the
Detroit Division, with interest on same to Nov. 1,
1887, upon deposit of bonds under this agreement.
2. Bonds o f the new first mortgage for overdue
coupons of the second mortgages and funded debt
bonds or scrip and the Detroit Division,with interest
thereon to Nov. 1,1887, and for overdue coupons on
consolidated mortgage, funded debt and scrip o f
same, and the Wabash mortgage sevens o f 1879.
3. Foreclosure of the mortgages where deemed
necessary for the organization of a new company or
companies, and the consolidation o f the company or
companies so organized with the Wabash Western
Railway Company.
4. The creation of a new first mortgage by the Con
solidated Company, payable in fifty years from Nov.
1.1887, bearing 5 per cent interest in semi-annual
coupons, principal and interest payable in gold. Into
this all the old first mortgage bonds, funded
debt and scrip pertaining thereto to be convertible
to the amount or principal thereof.
5. A new second mortgage upon the lines east of
the Mississippi River, payab e fifty years from Feb.
1.1888, bearing 5 per cent interest in semi-annual
coupons, principal and interest payable in gold. Into
this the principal of the bonds of all the old second
mortgages, the consoiidateds of 1867 and the 7s of
1879 to be convertible.
Upon deposit , the Trust Company will give for all
securities its temporary receipts exchangeable for
engraved certificates as soon as they can be pre
pared, which receipts and certificates will bear 0 per
cent interest from Nov. 1,1887, payable semi-annu
ally May 1 and Nov. 1.
For payment of this interest the purchasing com
mittee deposits securities o be applied if earnings
are insufficient. The overdue coupons are to he held
by the Trust Company to secure its advances, and
will be canceled when such advances are repaid.
The time for depositing securities under this plan
is limited to Jan. 20,1888, on and after which date
the committee reserve the right to attach a penalty
on any or all of the different securities then unde
posited.
A synopsis of the agreement, and full details, may
be obtained of the Central Trust Company on ana
after Nov. 28.
New York, Nov. 21,1887.
JAMES F. JOY, Chairman,-)
TIIOS. H. HUBBARD,
I Purchasing
EDGAR T. WELLES,} Committee.
O. D. ASHLEV,
J
CYRUS
J.
LAWRENCE,
Bondho.dera,
rrwNKV
w MoHARG,
\fnvrATHi
Honanoiaers
HENRY K.
Committee.
THOS. B. ATKINS.
The above plan is recommended to the bondhold
ers represented by the undersigned.
New York, Nov. 21,1887.
F. N. LAWRENCE,
Chairman First Mortgage Bondholders’ Committee
HOUSTON & TEXAS CENTRAL RAIL
WAY REORGANIZATION.
The agreement for the re 'rganiz ition of the Hous
ton & Texas Central Railway Company is now ready
for distribution and signatures. The holders of the
Holders of certificates of “ Illinois Central Railroad several classes of bonds of said railway company
Company Scrip for subscription to Capital Stock, are invited to deposit the same thereunder imme
issued in compliance with resolutions adopted by diately with the undersigned, the purchasing trus
the stockholders at a special meeting held June 17, tee named in said agreement, ao its office, No. 54
1887,” are hereby reminded that no dividends can be Wall Sireet, New Y< rif, and may make such deposit
declared or paid thereon. Such Scrip Certificates UP TO AND INCLUDING FEB. 10, 1888. Negoti
must, in order to be entitled to dividend, be con able certificates will be issued therefor upon such
verted, at the Company’s office in New York, into deposit. Holders of the first mortgage bonds will
certificates of Capital Stock before the 8ch day of also receive a bonus of $50 in cash upon each bond
February, 1888, when the transfer hooks will be so deposited under and in pursuance to said agree
closed.
A. G. HACKSTAFF,
ment.—Dated New York, Jan. 4, 1888.
Acting Secretary.
CENTRAL TRUST COMPANY OF NEW YORK,
New York, December 22,1887.
By F. P. OLCOTT, President.
The undersigned Committee of the Holders of
Consolidated Mortgage Bonds of the Houston A
C O M M E R C IA L NATION AL B A N K .
Texas Central Railway Company have approved of
vJ
Ne w Yo r k , Dec. 23,1887.
The board o f directors of this bank has this day the reorganization agreement above referred to
declared a dividend of THREE PB R CENT out o f after consultation witn a largemajority of the hold
the earnings of the past six months, payable to the ers of said bonds, and now recommend the signing
shareholders on and after Jan. 5,1888.
of said agreement ana the deposit o f their bonds
thereunder by all o f the consolidated mortgage
W. W. FLANNAGAN, Cashier.
bondholders. Under this agreement they wili re
ceive new 6 per cent bonds in exchange, dollar for
T H E PEO P LE ’ S B A N K OF TH E C IT Y dollar, for the bonds now held by them, and deben
ture bonds guaranteed by the Southern Pacific Com
A
OF NEW YORK.
pany for 75 per cent of the interest accruing up to
December 23,1887.
SEVENTY-THIRD DIVIDEND.
Oct. 1,1887. Those not already familiar with the
A semi-annual dividend of FIVE (5) PERCENT, agreement can obtain full information upon appli
free of taxes, will be paid on and after Jan. 3,1888. cation to the Central Trust Company, or to the un
Transfer books will be closed from 27th inst. until dersigned, or to their counsel, Almon Goodwin, Esq.
that date.
A WILLIAM MILNe , Cashier.
No. 2 Wall Street.
New York, Jan. 4,1888.
ALBERT S. ROSENBAUM,
WILLIAM H. POM ROY,
JOHN F. PATTERSON.
Committee o f Consolidated Bondholders Houston A
Texas Central Railway Company.
BANKERS,
The undersigned Committee of General Mortgage
Bondholders of the Houston A Texas Central Rail
way Company, having approved of the reorganiza
No. 10 W A L L . S T R E E T ,
tion agreement above referred to, hereby give no
tice thereof, and that the same has been formally
NEW YORK.
ratified by the holders o f a large majority o f thes«
bonds.
, . £ . .. „
Full particulars may be obtained o f the Secretary
DEALERS IN
o f the Committee« or of any o f the members there*
of,—Dated New York, Jan, 4,1888.
INVESTMENT and MISCELLANEOUS HENRY BUDGE of Haligarten A Co., Chairman.
WILLIAM MERTENS, Of L. Von Hoffman & Co.
THOMAS L. MANSON, JR., of Chas. Head A Cow
SECURITIES.
FREDERIC TAYLOR of Frederic Tayior A Co.
H. K. POM ROY of PomrovBros.
Southern Securities a Specialty.
WILLIAM J. QUINLAN, JR.
CHAS. ROBINSON SMITH, Secretary. 49 Broad
way, New York.
J L L IN O IS C E N T R A L R A IL R O A D
CO
R. A . Lancaster & C o.,
R. T . Wilson & Co.,
BANKERS AND COMMISSION MEBCHANl 8,
2 B xcn an go t o n n N ew Y o r k .
OUNG M A N W IT H C A P IT A L WOULD*
like to invest same, with .services, in some pay
ing, legitimate business. Commission business pre
ferred. No patents or brokers. Address G«,**
Chronicle Office.
_
TH E CHRONICLE.
VI
______ gfitxatixial.
$ 1, 500,000
[ V o i . X L Y I.
IPwauctal.
fin a n c ia l.
BONDS.
W e\ offer for Sale
N. T. CITY 83^s, 1915, Exempt from
A limited amount of first mortgage 6
per cent thirty-year Bonds upon un.
doubted security which we have per
CITY OF ST. PAUL 4>£s, 1917.
sonally and thoroughly investigated,
CEJST UNION PACIFIC Collateral Trust 5 and whose net earnings for the past five
years have been more than double
Per Cent Gold Bonds.
interest charges. Price 97 and interest
S.
EQUITABLE GAS LIGHT CO. New
from January 1.
York Registered 0 Per Cent Ctfs.
FULL PARTICULARS FURNISHED AT OUR
of Indebtedness.
OFFICE.
City and County Tax.
Housatonic Railroad
F IF T Y -Y E A R * »
G O L D
PER
B O N D
CAISXOI B E D R A W N .
TOTAL ISSUE,
STATE OF MISSOURI 3^s, 5-20 Year
Refunding Bonds, Principal and
Interest Payable New York City.
FOR SALE BY
^ 3, 2 8 0 , 0 0 0 .
B L A M E B R O S . & CO.,
JO H N H . DAVI S & CO.,
10
Chicago Burlington &
Quincy Railroad C o,
NEBRASKA EXTENSION,
F O U R P E R CENT B O N D S,
18 W a ll Street.
BONDS.
The HOUSATONIC RAILROAD is one of
BALTIMORE & OHIO (Parkersburg
Branch) 1st 6s, 1919.
tlio oldest in New England,
B U I L T IN 1 8 3 6 .
NEW YORK, LACK. & WESTERN(gnar.
Del. Lack. & West.) 1st 6s, 1921.
Line of road from Pittsfield, Mass, (connect
ing with the Boston & Albany Railroad to
Bridgeport and South Norwalk, Conn.)
NEW YORK, LACK. & WE STERN (guar.
Del. Lack & West.) 2d 5s, 1923.
W a ll St ect.
Due M ay 1, 1 9 2 7 .
Sinking fund to purchase annually 1 per cent o f
whole issue at limit of 110 and interest, but n o
drawing of bonds or compulsory retirement.
FOR SALE BY
AUGUST BELM ONT & CO.,
36 W a ll S tre e t.
K ID D E R , P E A B O D Y & CO.,
.1 Nassau S treet.
T HE
CANADA SOUTHERN R A I L W A Y
COMPANY,
T r e a s u r e r ’ s Of f ic e ,
G r a n d Ce n t r a l D e p o t ,
Ne w Y o r k , Dec. 80,1887.
l
>
)
MORRIS & ESSEX (guar. Del. Lack.
THE BOARD OF DIRECTORS of this company
have
this
day
declared
a
dividend
of
ONE
AND
The road has paid the following dividends on
& West.) Consol. 7s, 1915. ONE-QUARTER Per Cent upon its capital stock*
payable on WEDNEsDA V, the 15th day of February
its preferred stook since/.—
QUINCY, ALTO^i & ST. LOUIS (Chic. next,
at this office.
transi er books will be closed at 3 o’clock P. M.
Burlington & Quincy) 1st 5s, 1896. onThe
Friday, the 13th January, and will be reopened
1870 12 Per cent.
1878 8 Per cent.
on the morning of February 20.1888.
ALLYN COX, Treasurer.
MORRIS & ESSEX 1st Mort. 7s, 1914.
44
1879 8 4 4 4 4
1871 12 44
T
H
U
L
A
K
H
S
H
O
R E & M IC H IG A N
44
44
NORTHERN ILLINOIS (Chic. &
A SOUTHERN RAILW AY CO.—T r e a s u r e r ’ s
1872 9 44
1880 8 44
Of f ic e , G r a n d Ce n t r a l D e p o t , N e w Y o r k , Dec*
Northwestern) 1st 5s, 191C* 30,1887.
44
44
1881 8 44
1873 8 44
The Board of Directors o f this company have this
day declared a dividend of TWO PER CENT upon
44
44
G
44
JAMES
RIVER
TALLEY (guar.
1882 8
1874 8
the capital stock, payable at this office on Wednes
day, the 15th day of February next. The transfer
Northern Pacific) 1st 6s, 1936. hooks
44
44
will be closed at 3 o’clock P. M. on Friday*
1883 8 44
1875 .6 44
the
13th day of January next, and will be reopenedST. PAUL CITY IRAILWAY CO.
44
44
on the morning of Monday, the 20th day of February
1884 8 44
1,876 ,8 ( 4
E. D. WORCESTER, Treasurer.
Cable Consol. Gold 5s, 1937. next.
44
44
1885 7 44
1877 3 44
T H E M IC H IG A N C E N T R A L R A I L -
These, bonds are issued to fund the preferred
stock at 100 in accordance with special act of
C O N N EC TIC U T L E G IS L A T U R E ,
passed in 1870, and to refund the present bond
ed debt maturing from 1888 to 1892, at which
date this will be a
FIRST AND ONLY MORTGAGE.
The SECURITY IS UNQUESTIONABLE, as
the history of the railroad since 1836 demon
strates.
IN STOCK AND FOR SALE BY
JL R OAD CO.—T r e a s u r e r ’ s Of f ic e , Gr a n d Ce n t r a l D e p o t , N e w Y o r k , Dec. 30, 1887.
The Board of Directors of this company have this
day declared a dividend of TWO PER CENT upon
its capital stock, payable on Wednesday, the 15th
day of February next, at this office.
DUNCAN BUILDING! 11 PINE ST., NEW YORKThe transfer books will be closed at 3 P. M. on Fri
day, the 13th January, and will be reopened on themorning of Monday, the 20th day of February next.
HENRY PRATT, Treasurer.
R E E D & F L A G G ,
Spokane & Palouse B/y Oo.
F lfe S T M O RTG A G E SIN K IN G FUND
S I X P E R CENT GOLD BONOS,
DIAM O N D S.
PRINCIPAL AND INTEREST GUARANTEED
B Y THE
N O R T H E R N P A C IF IC R R . CO.
Dated May 1,1886. Dae May 1,1936.
IN T E R E ST M A Y 1 AND NOV. 1, P A Y
A B L E IN N E W -Y O R K .
FOR SALE BY
W m. S. Hedg es & C q.>
IMPORTERS OE BIAMOXBS.
DIAMOND
JEWELRY.
N o. 1 7 0 B R O A D W A Y ,)
NEW YORK*
Corner M u lden L a n e, £
E D W A R D S W E E T & CO.,
For price and particular's apply to
88 pROAD STREET.
COFFIN
& STAN TO N ,
F A H N E S T O C K & C O .,
2 W ALL ST., NEW YORK.
11
WAUL
STR EET.
A Y F I C E OF W E L L S , F A R G O
U
CHIC. ROCK ISLAND & PAC. 5s;
ST. PAUL MINN.& MAN. G O L D l^ s;
SOUTH SIDE RR. EXTENDED 5s,
& CO.,
85 B r o a d w a y , N e w Y o r k , Dec. 2o, 1887.
The regular semi-annual dividend of FOUR PER
CENT has been declared by the Directors o f this
Company, payable Jan. 16, .1868, at our office, as
above.
The transfer books will close Dec. 81, 1887, and
re-open Jan. 17, 1888.-3 J*H. B. PARSONS,
■
Assistant Secretary.
(U N D E R L Y IN G L IE N U P O N N O R F O L K & W E S T E R N
M A IN
L I N E ,)
AND OTHER CHOICE INVESTMENT BONDS;
FOfi SALE B Y
K U H N , L O E R & CO.,
5) Nassau Street.
Massasoit
House,
S P R IN G F IE L D , M ASS.
THE BEST APPOINTED HOUSE IN WESTER»
NEW ENGLAND.
Convenient for the tourist or business man. Near
Union Depot.
'__
W , H . CHAPIN.
Fifth Avenue Hotel,
M a d iso n Square, N E W Y O R K »
The Largest, Best Appointed and Most Liberal];
Managed Hotel in the City, with the Most Central
and Delightful Location.
HITCHCOCK, DARLING & CO.
Bible Hotel,
AM STERD AM , H OLLAND.
Beautifully situated in the centre of the pity, close
to the Railway Station and the Exchange. First»
rate cooking. Excellent wines. Moderate prices.
W. P. WERKEB, Manage*
HUNT'S
MERCHANTS’
MAGAZINE,
REPRESENTING THE IN D U S T R IA L A N D COMMERCIAL IN TERESTS OF TH E U N ITED STATES»
VOL. 46.
SATU R D AY, JA N U A R Y 7, 1888.
December.
fee C f e m x ic le .
1887.
Terms o f Subscription—Payable in Advance :
For One Year (Including postage)....................... .
S10 20
F or Six Months
do.
...................................... .
6 10
European Subscription (including postage).................... " 1 1 2 8
Annual subscription in London (including postage).. . . . . &2 7s.
Six Mos.
do
do
do
. . . . . . *1 8s.
These pri e i include the I n v e s t o r s ’ S u p p l e m e n t , of 120 pages
issued onoe in two months, and furnished without extra charge to
subscribers of the C h r o n i c l e .
w i l l i a m B. DANA.
j o iin q p l o y d
$
1
1 0 2 W illia m
V I
L IIsU e r8,
Y O R K ..
S tre e t. N E W
P ost Office B o x 958.
C L E A R IN G H O U S E R E T U R N S .
For the week under review the returns of exchanges embrace
only five business days, Christmas having been observed on
Monday, December 26. Compared with the previous week,
which included six days, there is a decline of about one hun
dred and sixteen million dollars, of which half was at New
York. In the week of 1886 with which comparison is made
the New Year’s -holiday occurred, but, as is well known, is
not observed so universally as is Christmas. The contrast
cannot, therefore, be said to be between five days in each
year. The figures as they stand, however, exhibit a loss this
year of 4*9 per cent.
Week Ending Dec. 81.
18S7.
Sales of—
, (Stocks............. shares.)
(C otton............. bales.)
(Grain.......... bushels.)
(Petroleum...........bbls.)
Boston.......... ................
Springfield...................
Lowell.. .........................
$
490,824,291
J
1886.
$
626,272,256
—3-7
1887.
$
548,596,481
(784,356) (1,609,929) (—50-7)
(775.107)
(332,900) (+6 5)
(354,500)
(557,200)
(33,543,515) (31.042.000) (+8*1) (28,590,300)
(39,116,000) (23.929.000) (-HJ3-5) (34,992,000)
60,287,191
82,484,685 -26-8
73,423,122
4,281,600
4,606,200
—7-0
5,162,500
1,638,782
1,468,415 +11-6
1,568,609
1,041,134
995,655
+4-6
1,128,647
899,772
858,080
+4-9
961.090
763,424
899,951 —15‘2
958,098
787,335
739,186
+6-5
1,034,006
466,318
557,211 —16-3
629,ii89
Total New England...
Tot. W est...
470,735,959
St. Louis........
St. Joseph....
New Orleans..
P. Cent. Louisville......
Kansas City...
Memphis........
Galveston......
Norfolk.........
(-67-1)
Tot. South...
(+17-5)
(—6 2)
(+57-8) San Francisco.
80.500,959
0,827,308
51,712,251
25.177,050
31.560,488
12,398,007
6,647,704
5,026,381
92,609,383
—24-2
84,865,361
49,565,216
9,073,037
9,832,623
47,512.438
8,245,550
10.134,927
+43
+10-0
—3-0
61,405,963
11,214,510
11,934,796
68,470,876
65,892,915
+3-9
84,555,269
+15-5
49,137,781
8,545,700
4,186,613
3,440.186
1,780,630
2,477,552
2,093,165
1,168,629
2,380,349
8,124,031
2,031,169
2,649,413
500,196
' 590,016
1,605,210
240,333
41,533,767
8,366,900
3,702,927
2,896,226
1,262,994
2,615,940
1,545,164
768,608
1,886,517
2,778,129
1,540,873
2,996,038
419,805
+18-3
+2-0
+13-1
+18-8
-Hi-8
—5-3
+35-5
+52-0
+26-2
+12-5
+31-8
—i r e
+19-1
4,015,305
‘+5-Ï
84,115,430
78,042,437
+15-2
15,467,874
1,238, fc20
10,217,129
3,609,802
5,465,519
2,424,587
1,240,470
907,250
13,649,512
1,052.836
9,315,000
3,849,461
5,498,137
1,995,823
1,451,783
801,590
+13-3
+17*7
+9-7
+7-8
—O'«
+21-5
—146
40,571,251
87,117,142
+9-3
A1
15,455,402
14,716,888
+5*0
X1,LU
Total all...................... 769,602,806
Outside New York........ “ 278,778,515
* Not included in totals.
809,651,021
283,378,765
Detroit.........................
Columbus......................
St. Paul..........................
Duluth*........................
Topeka*.........................
,-11‘C
+41*2
558,323 . +331
2,659,420
292,894
+29-4
74,531,358
—4-9 886,101,734
—1-6 337,505,253
1887.
420,847,437 +10*3 5,129,565,084 4,347,695,659 +17-9
74,650,537 +7*8
5,731,145 +191
54,027,000 —5-3
22,426,268 +12*3
31.042,703 4-1*7
11.7i2,461 +5*8
8,789,210 —24*4
4,946,017 +1*6
894,527,781
71,593,391
431,482,78281,109,503
390,900,786
101,177.377
63,483,638
41,580,924
810,795,062 +10-3
48,394,387 +47*9
388,487,905 +11-7
233,292,562 +20-5
2-3,941,062 4-37-7
82,642,193 +22*3
71,101,351 —10-7
89,071,206 +7-6
213,925,341 +2*8 2,275,836,133 1,957,786,328 +16*3
72,392,985 4-8*0 829,181,930 642,221,392 +29-1
Actual
Value.
Aver'ge Par Value
Price. or Quantity
Actual
Aver'ge
Value.
Price.
84,914.616
100,802,050
05-6
1450S778S99
61-1
j
(5885062200
$7381437450
$8973,374,877
$347,127,330 $292,413,287 84-0
$587,237,500 $496,070,111 84-6
$7,110.400
$8.456,072 1189
$12,793,500 $15,433,131 120*7
$15.306,800
$5,964,616 39*0
$20,394,411
$7,313.158 35*9
$1,911,200 $2,336,520 122-2
$2,149,715
$1,982,587 92-2
$7752S93180 $4817949994 62-1
$9595,950,003 $6407061,187 66*8
1256,116,000 $849,701,701 07 2-3c. $2312,795,000 $1683601,350 72 8-lOfl
28,945,500 $1461478,810 $50*49
23,304,100 $1087541,820 $46*66
2107,259,539 $1771678,256 84 1-14C 1,890,454,388 $1578290,259 83)6 c.
Total value
$8900888,761
10756554,610
We give below our estimate for the week ending January
7, based on the five-day telegraph returns, and ic indicates a
decrease compared with 1886 of about 19*1 per cent.
Returns by Telegraph.
Week Ending Jan. 7.
1888.
—50
1887.
Week End’g Dec. SI.
P. Cent
18S7.
P. Cent.
$
484,607,760
(440,383)
80,640,390
59,944,724
10,488,261
47,927,400
14,709,235
11,055,843
$
701,441,019 —30*9
(1,401,104) (-68*6)
76,006,495
+5*3
-6 9
64,304,762
14,508,842 —27 7
55,285,000 —13-3
17,409,575 —15*5
+1-6
10,881,486
$
375,788,753 -28*6
(654,9831 (—48*7)
46,402,945 —29*3
89,191,702 —17-5
7,983,050 —21*2
-4 -8
39,500,000
12,304,877
—9-9
8.010,175 —14-0
709,373,619
140,127,218
940,497,779
144,244,844
—24 6
—2-8
529,181,562 -25*9
155,462,387 +823S
Total full week.. . .
Balance Country*..... .
849,500,837 1,084,742,623
115,062,438 107,604,741
-21*7
+ 69
084,643,949
85,047,362
—6 3
+8*0
Total week, all.........
904,503,275 1,192,347,364
—19-1
769,691,311
—4-9
New York......................
Sales of Stock (shares')....
‘-^6-9 Boston............................
Philadelphia..................
Baltimore......................
+24-5 Chicago..........................
St. L o u is .....................
—1-1 New Orleans..................
H 6' I
Total, 5 days............
Estimated 1 day. . . . . .
December the total exchanges show a decrease from
the figures for the preceding month, and contrasted with
December of last year record a loss of 16-8 per cent. For
the full year tjhe gain in comparison with 1886 is 3-8 per cent
in the aggregate and 13’3 per cent excluding New York,
219,850,271
Description. Par VcÊlié
or Quantity
stock
RR. bonds...
Gov’t
bonds.
59,856,317 +37-1
11,193,150 . +11-7 State bonds.
Bank stocks.
4,353,825
4,253,041 +32-0
Total ...
2,379.431 +62-3
3,825,420 +18-4 Petr’l’fn.bbls
2,366,831 +55-3, Cotton.bales
Grain...bush
SVf
Twelve months.
| P .«.
Total all...... 4,285,762,443 5,152,448,408 -10*8 51,051,818,743 49,193,201,051 +3*8
+0-1
+29-8
+6-2 Outside N. Y. 1.545,372,265 1,533,467,798 4-0*8 17,507,202,475 15,516,431,439+13* a
+15-0
+15-4
Operations on the New York exchanges for twelve months
+18-4
+34-0 in. 1887 and 1886, as compiled by us, have been as follows :—
+38-8
Twelve months, 1887.
Twelve months, 1886.
+ 26
70,165,556
-Chicago..........................
■Cincinnati...... ........... ....
1886.
1886.
P.CU
$
$
$
$
New York...... 2,740,390,178 ?,018,980,610 —24-3 33,484,556,268 33,676,829,612 -0*8
Boston........... 354,085,789 387,759,44C -8-7 4,387.754.275 4.095,215,231 +7*1
Providence...
23,171,800
21,193,200 +9-3
244,971,100 227,688,200 +7*6
Hartford........
7.411,905
7,399,674 +0*2
89,327,819
86,985,070 +2-7
New Haven...
5,176,198
5,194,277 -0*4
63,887,363
58,724,305 +8*8
Portland........
5,414,830
4,449.189 +21-7
60,343,261
47,793,118 +5-3
Worcester.....
4,255,738
8,870,924 +9v
48,381,185
44,362,020 + 8 9
Springfield....
4.410,431
4,132,930 -»-0*7
52,274,682
42,67r,239 +22?5
Lowell...........
2,709,361
8,506,551 +8*1
3d,931,298
27,025,252 +14-5
Tot. N. Eng. 406,630,052 436,503,185 —0-8 4,967,820,983 4,630,470,435 +7-3
Philadelphia.. 273.721,155 285,067,684 —4*0 3,194,481,172 2.912,798,360 +9*7
Pittsburg.......
47,231,385
42,572,629 +L1-0
511,010,701
409,155,867 +24 9
Baltimore.....
52,666,135
56,158,547 -6*2
059,346,472
616,303,898 + 7 0
Tot. Middle.. 873,018,625 383,798,860 —2-7 4,364,838,345 3,988,257,625 +10-8
Chicago......... 275,433,259 249,305,710 +10*5 2,969,216,211 2,604,762,912 +14-0
Cincinnati.....
47,988,000
49,477,*350 —3*0 562,261,200
512,708,500 +9*7
Milwaukee....
21,115,083
19,778,688 +0*7 226,784,830
196,335,616 +15*5
Détroit...........
19,009,479
16,257,632 4-16*9
108.0S5.922
165,798,059 +19*5
Indianapolis...
9,421,212
7,515,107 +22*3
95,428.265
67,071,650 +42*3
Cleveland......
14,124,842
13,878.651 +l*r
163.<!48,873 129.813,633 +■25 6
10,321,491
Columbus......
8.408,231 +22*8
112.585,539
92,079,504 -+22*8
Peoria...........
5,890,24»
4.614,792 +27*6
58,785,921
40,911,541 +487
Omaha...........
13,473.316
10,785,453 +24*9
147,371,892
93,866,422 + 57 0
20,413,781
Minneapolis...
17,497,355 +16*7
196,159,591
164,801,748 -18-7
Denver...........
10,215,495
7,941,11» +28*0
85,664,537 +37-2
117.490,043
St. Paul... . ..
17,225,780
10.343,367 +5*4
152,954,315 +34*0
205,012,123
Grand Rapids.
2,601,820
2,026,310 +28*4
27,746.217
21.428,206 +29*8
Wichita..........
3,502,142
2,987,002 4-17-2
19,999,016 +148"
49,598,457
Week End'g Dec. 24.
P. Cent
NO. 1,176.
* For the full week, based on last week’s returns.
2
THE
CHRONICLE.
[YOL.
XLYI.
W hy money at this centre has been growing easier in
THE FIN AN CIAL SITUATION.
There has been a further and more decided movement December, we have indicated in our remarks with regard
towards easier money this week. Not that rates have I to that market and in our figures of changes in currency
declined materially as yet, or that banks and other money holdings by the banks from week to week during the
lenders scrutinize collaterals any less carefully; but money month. The relief as our readers know came wholly
is flowing in from many sections of the country with only from Government surplus disbursements. In fact had
a small counter movement, so that bank reserves are not the Treasury paid out much more than it received,
increasing quite rapidly. W e hear, however, that the the money market here at the turn of the year would
demand for accommodation is active; and that fact, have been liable to a very severe spasm. Similarly also
together with the uncertainty as to Government accu the Treasury disbursements must have relieved other tradfr
mulations, have kept rates pretty firm up to this centres; that is to say the monthly statement indicates astime.
But if stock speculation continues tame as much. This is shown by the following which is our usual
at present, it seems as if there must be a decline summary of Government currency holdings on the first of
to lower figures soon.
Bankers’ balances have loaned at January and at previous dates.
3 and 6 per cent, averaging about 5 per cent. Banks
Jan. 1,
November 1, December 1
U. S.Treasurer's July 1,
July 1,
1888.
1887.
1887.
1887.
continue to ask 6 per cent on call, though some of the net holdings of
1886.
trust companies have lowered their rates to 5 per cent* G o ld ....______ $150,793,749 $186,875,669 $202,859,832 $211,880,526 $208,608,130In time loans on stock collateral there is very little doing* Silver............... 96,229,539 73,848,425 58,183,571 51,759,939 45,294,753
16,318,220
15,424,425
Commis sion houses can at present get all the accommoda U. S. Notes...... 22,868,317 20,013,797 15,261,067
164,093
118,403
150,818
197,046
149,014
Bank N otes....
tion they need by borrowing from day to day, with the
24,208,274 24,383,290
Frac’nal Silver*
29,282,496 27,094,192 24,519,536
prospect if they wait of obtaining easier rates than those
In Sub-Tr’sur’s $305,323,115 $307,529,129 $300,980,824 $304,285,362 $293,874,691
at which they could borrow on time now. About the In deposi’y Bks 14,435,199 22,991,302 31,767,478 42,428,071 52,199,918
middle of the month there are a good many time engage Grand total.... $319,758,314 $330,520,431 $332,748,302 $340,714,033 $346,074,603
ments maturing, and it is anticipated that when they fall
* Including minor coin.
due they can be renewed at lower figures. Commercial
Note.—Trade dollar bullion, of -which the Treasury now holds $6,729230, we make no account of, as silver bullion is not currency, and works
paper is in better demand and there is also a more liberal no change in the volume of the circulation, whether it is in or out of
the Treasury. We include, however, in each case the small item of silver
supply. Some of the city banks are in the market. The bullion incorporated in the Treasury statement of net silver holdings,
since if we changed the official figures it might confuse some readers.
ruling quotations are lower, 60 to 90 day endorsed bills re As the bullion so carried is always about 5 million dollars, including it
does not affect the comparison.
ceivable being reported 5-^ to 6 per cent, but sales are
According to the foregoing it will be noted that the
chiefly at the last-named rate. * Four months acceptances
amount
of currency in sub-treasuries at the opening of
are 6@ 6£ per cent, and good single names from four to
the
new
year was only $293,874,691; whereas on the first
six months to run are 6£@7£ per cent.
of
December
the same total was $304,285,362, or a de
In Europe money is getting to be very cheap. In Lon
crease
of
$10,410,671,
all of which went into the channels
don the open market discount rate is now 2-| per cent,
of
commerce.
Besides
that there were $2,785,000 silver
though the Bank minimum remains at 4 per cent. At
dollars
coined,
for
which
certificates were issued, also
Paris the rate is 2 f per cent, and at Berlin it is 2 per
something
over
1£
millions
foreign and domestic gold
cent. The higher money at Paris is due to the failure of a
large operator on the Bourse Thursday. The easier money bullion made available. Hence, without counting frac
at London and Berlin probably in part reflects a more tional silver we have about 14^ million dollars (less
pacific political situation and in part a little less activity $1,480,907 contraction in bank notes) added to the curin business, while a tendency to easier rates is a natural rency in the hands of the banks and people during De
condition at this season of the year. W e learn by our cember by the operations of the Treasury. Of this
special cable also that there has been this week an import amount the New York sub-treasury figures show that not to
into Great Britain of gold from Australia of £202,000. exceed 4 million dollars net went into the banks of this city,
Previous to this import there had been received so that the remainder of the amount must have been dis
at London from Australia during the whole of 1887 only bursed at other sub treasuries, through Government
£320,396. V ery possibly this arrival may have had some transfer orders obtained by our city banks and otherwise.
These are significant facts. Consider for a moment
influence on money, especially as the Bank of England
what
would have been the condition of money and com
reports a large net increase in bullion, being for the
merce
had the Secretary neglected or for any cause omitted
week £245,000. This increase is due, as we are advised
or
been
unable, even during that single month, to put out
by cable, to an import as stated from Australia of
this
currency.
It will be noted above according to the
£202,000 and receipts from the interior of Great Britain
final
total
(which
includes money in depositary banks as
of £123,000, decreased by an export to Germany of
£80,000. The Bank of France lost £578,000 gold during well as in sub-treasuries) that there has been no material
the week and the Bank of Germany reports a loss of change in money holdings of the Treasury daring Decem
about £357,000. These late losses by the Bank of Ger ber— the amount held on January 1, 1888, being $346,074,609, and on December 1, 1887, $346,714,033, or a
many are supposed to reflect shipments to Russia.
Our foreign exchange market opened the week dull, but decrease of $640,000. In other words, these cash items
firm. On Wednesday there was a change, some of the show receipts only $640,000 less than disbursements dur
Canadian banks having advanced their rate for long ster ing December. If, therefore, Mr. Fairchild had pursued
ling. This was said to be caused by a demand for this the ordinary course and not availed himself of depositary
class of bills, encouraged by low rates for discount in banks, he would within the month have added to
London and also by the scarcity of commercial drafts. bank reserves $640,000 instead of putting into them
On Thursday there was a further advance of half a cent ten and a half million dollars It is scarcely necessary to
per pound for both long and short by the Canadian banks, state in what condition that would have left the New Y ork
They held at the close of the year only $8,559,and also of half a cent for long by Messrs. Brown Bros., banks.
150
surplus;
hence the presumption is that they
the leading drawers, the market closing, that day firm at
would
have
lost
more
than all their surplus reserves, for
$4 84 for sixty days and $4 87 for sight, and continued
we
may
assume
that
the whole difference would hav©>
the same, without change in tone or rates, yesterday.
J a n u a r y 7, 1888.]
THE
CHRONICLE.
fallen on them, since if the interior banks had not supplied
their wants in part through the Treasury they would have
had to supply them from this centre. ¥ e cite these facts
simply to bring again to the attention of our legislators in
Washington what a constant menace a surplus of revenue
is to our industries. No merchant, no banker, no investor
can to day, without solicitude, engage in any undertaking;
and so long as this source of anxiety is unremoved, it will
continue to be a check on enterprise. The facts we have
cited make that obvious, and show the urgent need there is
for an immediate and large reduction of taxation. Even a
little lack of foresight or mistaken judgment on the part of
the Secretary would any month throw our entire industrial
machinery into confusion. It is in every way wrong to
put such a responsibility upon or power into the hands of
any Government officer. The long continuance of this
strain is making our people very impatient.
Some alarm has been expressed lest these accumulating
moneys in depositary banks, reaching, as will be seen,
52 million dollars on January 1, may, when drawn
against by the Secretary, cause disturbance. W e think
anxiety on that account is wholly uncalled for., Mr.
Fairchild can be trusted to disburse these moneys in a
manner vbich will make the movement unnoticeable. It
is not at all a difficult task. To realize that, one need
only bear in mind (1) that $1,100,000 is the limit in the
amount left with any single bank; (2) tbat in New Y ork
City these deposits at present do not exceed $12,000,000
altogether; (3) that when any part is checked out by the
Government it will simply be for Government disburse
ments and will not be taken out of the banks, but pass
from one bank to another like any other deposit; it will
remain in the channels of trade all the time; (4) the dis
tributing of it will be a slow process anyway,and can be so
timed and apportioned among the institutions holding the
funds as not to cause the least commotion. W e cannot
therefore see in that deposit item enough material to
make even the faintest outlines of a bugaboo.
According to previous ariangement, both the Philadel.
phia & Beading and the Central of New Jersey were
taken out of receivers’ hands with the beginning of the
year. In the case of the Central of New Jersey the event
is signalized by the publication by the receivers of an e x
ceedingly interesting account of what has been accom
plished by them with the aid of the board of directors
and the reorganization committee during the interval of
the receivership. W e give the statement in full in our
investment department, though it occupies several pages,
and those interested in the property will doubtless examine
it with considerable interest. The receivers are certainly
able to make a very flattering showing. W ith the c o
operation of those interested in the property, they have paid
off the floating debt and also all the interest in default,
the latter having amounted on January 1,1887, to $1,661,
670. For purposes other than operating expenses and
fixed charges, we find they paid no less than $2,452,393,
this covering $566,053 of back taxes, $860,000 of in
debtedness under the old receivership, $325,750 in payment
o f car trust certificates, and various other items. A t the
same time the receivers so managed the property that,
though the road suffered from a strike of the coal handlers
in January, February and March, and again in September
and subsequent months from the strike of the coal miners—
its revenues being greatly dimmished as the result of both—
yet in the face of these obstacles gross earnings during the
ten months ended Oct. 31 were increased $817,893, and
net $795,548. Bat these are by no means the only mat
ters accomplished. The property and all its appurtenances
has been kept intact; no receivers’ certificates have been
3
issued; the company has been reorganized on a lower basis
of interest charges, and the complicated and disputed
accounts with the Reading completely adjusted, the latter
alone being an important achievement. W ith reference
to the reorganization, our readers know that it has been
effected through the issue of a new general mortgage 5
per cent loan, and it is interesting to note that thus far
$22,382,200 of old bonds have been converted or exchanged
into the new mortgage, and that the total saving in
charges now amounts to $335,000 per annum. The
finance committee of the railroad, with Mr. E. D. Adams
as chairman, is entitled to considerable credit for the
success attending this conversion of the debt. Altogether
the Central of New Jersey as delivered over by the
receivers, enters upon a new existence with very flattering
conditions and prospects.
The Reading miners definitely quit work this week,
and to the army of strikers in the Lehigh region must
now be added another and still larger army in the Schuyl
kill region.
The important point, of course, is as to the
effects of the strike, and this depends upon whether it is
to be prolonged or not. The Reading Company has the
advantage of the miners in being in excellent financial
condition, and therefore able to hold out indefinitely.
The miners, on the other hand, will have to rely upon the
assistance of their brethren in other districts, and, con
sidering the number o f those on strike, this assistance
cannot long prove adequate to the needs of the miners.
H mce circumstances would seem to favor an early end
to the struggle. But whether the strike be long or short,
its effect in reducing supply is going to be less important
than generally supposed. Both the Schuylkill and the
Lehigh are heavy producers, but the W yoming region
turns out more coal than both combined, and there opera
tions continue in full force. -The W yoming in 1886
furnished 53 per cent of the entire output, the Lehigh
having contributed 17-81 per cent, and the Schuylkill
29 19 per cent. But this is no indication of what can be
done under pressure.
The W yom ing includes such
important producers as the Lackawanna, the Delaware &
Hudson, and the Pennsylvania Coal, which mine only that
kind of coal, while the Central of New Jersey and the
Lehigh Yalley also produce considerable, and the Erie
likewise has Wyoming. In November, with the Lehigh
miners idle, more coal was produced by 108,553 tons than
in the same month of 1886, with the Lehigh men at work.
As an indication of how, under the stress of necessity, inacti
vity in one section will cause especial endeavors in another,
It is to be noted that in that month the Lackawanna in
creased its output more than one-third over the same
month last year, or from 529,108 to 717,541 tons, while
the Delaware & Hudson increased from 349,844 to 444,586
tons, the Pennsylvania Railroad from 312,204 to 366,528
tons, and the Pennsylvania Coal from 146,528 to 177,374
tons. Even the Central of New Jersey, whose product ordi
narily consists of one half Lehigh, managed so far to offset
the falling off from that region by a gain from the W yoming
that it lost only 70,669 tons from its total of 498,142 tons
in .November, 1886. Another point is worth noting. In
January, the Western demand having been satisfied, and
water navigation being in great part closed, the coal out.
put is never large. Thus last year it was only 2,243,312 tons.
But in November 2,597,582 tons were produced entirely
apart from the 788,608 tons mined by the Reading. Hence
the report that there is no reason to apprehend a coal
famine would seem decidedly well founded.
Of course
some of the manufacturing industries along the line of the
Reading will be incommoded, but even here coke and soft
coal will in some measure afford substitutes.
4:
THE
CHRONICLE.
[Y o l , XLVT.
The stock market this week, thougu a tnfla irregular*
The course of railroad gross earniDgs continues much
the same as heretofore, but the returns of net that have has, on the whole, shown a firm undertone. The develop
come in this "week are better than we have become accus ments of the week were rather m. favorable. The con
tomed to of late. Chief among these latter is the Chi tinued cutting of rates in the Wes*, the strike of the Read
cago Burlington & Quincy, which for November shows a ing miners, and the rise in foreign exchange quotations,
slight improvement in the net, against heavy decreases in have all been temporary adverse factors. Oa the other
the months immediately preceding.
The Oregon Rail hand, the continued gx>d reports of gross earnings, with,
way & Navigation, too, which previously has had rather as noted above, quite a number of improved exhibits o f
unfavorable returns, now for November has increased its net, the disposition to regard pr'ces of stocks as being
net from $224,793 to $358,975, though it is only fair to low, the easier condition of the money market, the largo
say that the comparison is with a very poor month in amount of January interest and dividend moneys to b o
1886.
The Union Pacific makes an exhibit sim reinvested— these all tend to keep the market firm, and
ilar in character to its previous returns— that is very hence an improving tendency is noted, in which oparatorsr
favorable indeed. The Louisville & Nashville, the Alle. are more inclined to buy than to sell. There has been
gheny Yalley and the Ontario & Western are some other considerably more business in railroad bonds, generally a t
roads with good exhibits. In fact, out of the seventeen com advancirg prices, but that is the only particular in which
panies that have furnished figures for November this week the general public has shown any interest iD speculation
only three show smaller net than last year. The New the dealings in stocks as heretofore being confined almost
York Central on Saturday last issued its preliminary entirely to the professional speculators.
[The tables usually given at the end o f this article will be
statement for the quarter ending with December, and here
found
this time in another department o f the paper on p ig ee
the same feature is observable as in other recent periods}
namely a very heavy increase in expenses, a gain of 24 and 25.]
$968,000 in gross being accompanied by an increase of
$931,000 in expenses, leaving the net but slightly changed. N O T A B L E F E A T U R E S I N T H E F A IL U R E S O F
1887W ith regard to the statements of gross, our summary for
There are some facts calling for special notice in tho
the fourth week of December on another page makes a
gain of 12f per cent on thirty-nine roads. The December record of mercantile failures which we give in full on a sub
returns are not all favorable, but in those cases sequent page for the past year. One would call the year—
where
the
decrease is heavy there is usually take the average of the whole twelve months— a pretty
some special circumstance to explain it. Thus the Texas good one from an industrial point of view. During tho
lines have suffered from bad weather and floods, making first half of it prices of all commodities were wtll sustained,
it impossible in some cases to move cotton owing to the the quantity of goods marketed being immense, while
muddy condition of the roads, and the effect is seen in the during the last half production did not decrease, though
earnings of the Houston & Texas Central for the second in many departments prices gradually grew less
A nd yet notwithstanding such condi
and third weeks of the month, where there is a falling off satisfactory.
tions
prevailed,
the record of failures gives the remarkable
o f nearly one-half as compared with last year. On the
results
of
(1)
larger
liabilities than during either of the
Mobile & Ohio the decrease for the month is due to
two
previous
years,
and
(2) number of failures very full
various causes— lower rates, the opening of some new
compared
with
the
previous
record.
lines, and an earlier movement of cotton. This road, by
On this latter point, number of failures, it is quite note
the way, is to be congratulated in having obtained the ser
vices of James C. Clarke, at one time President of the worthy that there has been no very essential drop since the
Illinois Central system. Mr. Clarke will be Y ice Presi last cycle of business activity began. In that particular
dent and General Manager of the Mobile & Ohio, and there is not another period like it during the whole time
entered upon the discharge of his new duties on Messrs. R. G. Dun & Co. have issued their very valuable
January 1. Of course Mr. William Butler Duncan will reports. For instance, going back no further than the
revival of 1879— it will be found that in the previous year
continue President of the road.
The Louisville & Nashville Railroad management has the number of failures reached 10,478 and for the three
bqen applied to by some of their London stockholders to years previous to 1879 the number averaged 9,480; yet in
pay dividends for the present and two following years in the latter year they at once dropped to 6,658, and next year
stock.
About two-thirds of the share property of this (1880) to 4,735, while for the four years ending with 1882
company is held in London and Amsterdam. These for. they averaged only 5,928. After that, the period of con
eign holders, having noticed for some time past the com. traction and liquidation set in and the increase was rapid,
pany ’s large surplus,have been making inquiries in regard to being for the years since 1882 as follows— in 1883 they
dividends.
On a subsequent page to-day, under the title were 9,184, in 1884 they were 10,968, in 1885 tbey were
“ Reports and Documents,” will be found a memorial 10,637, in 1886 they were 9,834, and in 1887 they were
from a large number of the London owners addressed to the 9,634— making the average number of casualties for the
managers of the company, which is exceedingly moderate five years 10,051, in spite of the trade recovery which
in’ tone and friendly in spirit. Their application is under began with July, 1885, and has continued since.
In the feature of total liabilities the recent revival o f
consideration by the Louisville & Nashville Board, and it
would appear to be quite reasonable that they should grant business is more distinctly marked, but not by any means
the request. It is only proposed that, instead of paying as clearly so as in previous revivals. Thus with 1879 the
cash dividends, the company in the current fiscal year drop in this item was to $98,149,053 from $234,383,132,
ending June 30, 1888, and two following years, may use and for the four years from 1879 to 1882, both inclusive,
its surplus income for betterments, and pay to its stock the average liabilities were only $86,651,137. The next
holders common stock at par in place of paying cash. year (1883) severe depression set in and the total went up
There would be nothing in the nature of stock u watering ’» to $172,874,172, and in 1884 to $226,343,427 ; then fo r
about it, but simply a division of stock in lieu of a cash two years it was considerably smaller, but the lowest was
in 1886, when it touched $114,644,119; yet now (1887),
dividend which had been earned.
THE
J a n u a r y 7, 1888 ]
CHRONICLE.
notwithstanding the good year’s business, it has not only
risen again, but has reached the very large total of $167,560,944. Such figures do not accord with or look very like
real or unmixed prosperity; that is to say they represent
a marvelous waste going on for a period of active, profit
able production. Suspended accounts in the amount of
167£ million dollars in one year and a casualty rate which
strikes out in 1887 on the average 1 in every 103 persons
in business throughout the whole country, and for the three
years ending with 1887 takes 1 in every 95 persons, no
one would cite as evidences of robust commercial healthThis anomaly we are unable to explain on the basis of
increased number of individuals and firms in businessThere is a growth in that item every year, but in 1887
it was smaller than usual, the increase being only
24,440 over 1886, against an increase in 1886 over 1885
o f 49,851. Besides, the proportion of failures to the nunr
ber in business is large, as we have already pointed out.
To further illustrate that fact we give the following state'
ment showing the number of persons and firms in business’
the number of failures, and the proportion of failures to
the number in business, each year since 1880.
Years.
Eastern. Middle. South’rn Western
Pacific,
&c.
Total.
18S7.
279,267
2,345
1 in 119
150,492
2,224
1 in 68
892 733
2,248
1 in 133
69,557
973
1 in 72
994,281
9,634
1 in 103
293,862
2,271
1 in 130
142,014
2,349
1 in 61
869,763
63,527
8,091
1,013
1 in 120 1 in 62
969,841
9,834
lin 98
261,564
2,498
1 in 105
142,175
2,346
1 in 61
358,619
3,302
1 in 109
61,218
1,230
1 in 50
919,990
10,637
l i n 86
92,381
1,375
1 in 67
278,093
2,592
1 in 107
142,894
2,291
1 in 62
336,910
3,369
1 in 100
54,481
1,341
1 in 41
904,759
10,968
lin 83
Number in business.... 90,331
1,197
Number of failures. ..
Pioportion o f failures.. 1 in 75
262,021
2,136
1 in 123
135,159
1,844
1 in 73
822,877
2,961
l i n 109
53,605
1,046
1 in 51
863,993
9,184
l i n 94
-Number in business...... 88,689 248,742
Number o f failures......
772
1,667
Proportion of failures.. 1 in 114 1 in 149
126,281
1,618
1 in 78
808,485
1,950
1 in 151
50,059
731
1 in 68
822,256
6,788
1 in 122
241,373
1,372
1 in 176
118,606
1,439
1 in 82
291,349
1,504
1 in 194
43,036
495
1 in 87
781,689
5,582
1 in 140
237,062
1,472
1 in 161
109,821
835
1 in 131
275,672
1,171
1 in 235
38,494
534
1 in 72
746,823
4,735
1 in 158
.Number in business... 102,232
1,144
Number of failures.. ..
Proportion o f failures.. 1 in 68
1886.
Number in business.... 100,675
1,110
Number o f failures......
Proportion of failures.. 1 in 91
1885.
Number in business .... 96,414
1,261
Number of failures......
Proportion o f failures.. 1 in 78
1884. y
Number in business__
Number o f failures....
Proportion of failures.
1883.
1882.
1881.
Number in business.... 87,325
Nomber o f failu-es.. ..
772
Proportion o f failures.. 1 in 113
1880.
Number In business ... 85,774
Number o f failures.. ..I
723
Proportion of failures. J 1 in 118
In the above we have the proof of the statement made
that not only is the number of casualties large, but the
proportion also is larger. The best years of the previous
period of industrial activity gave a far better record. For
instance in 1880 the proportion for the whole country was
■only 1 in 158 and in 1881 it was 1 in 140, whereas
in 1886 it reached, as already stated, 1 in 98, and in 1887
it was 1 in lm3.
W ith such results as these it seems difficult to find any
•escape from the conclusion that the risks of business
«.re increasing. The extra risks might come from greater
venturesomeness or from smaller profits. Perhaps both
•of these suggestions have some truth in them. Most cer
tainly the speculative tendency has developed in recent
years. The growth in facilities and opportunities for
such dealings through the purchase or sale of futures in
almost every kind of produce, is an evidence of it. Per-,
haps we may assume, therefore, that merchants and bank*
ers do to a greater extent than formerly take part in
chance operations. Some of the more prominent failures
o f the year appear to point in that direction. W e have
ae an illustration the closing of the doors of the Fidelity
Bank in Cincinnati in June after those in control had*
5
diverted the funds of the institution to speculative pur
poses. This is only one case among quite a number, for
the collapse of banks, National, State and private, has been
a feature of the events of the past twelve months.
And how many individuals and firms have been crippled
by reason of these occurrences, and succumbed as an indi
rect consequence, it would be impossible to determine.
But we are inclined to give even more importance, as
an influence affecting the number of failures, to the smaller
margin left now-a-days for net returns to the merchant
and the manufacturer. This is acknowledged to be the con
dition in almost all trades. It is only the mill well situ*
ated, intelligently managed, with modern machinery and
abundance of capital, that is able to earn its dividend with
regularity. So also with the merchant— he needs good
credit, large means, immense sales and the closest watch fulness to secure a profit. A ll this triés the trader in'a
double way— it gives him very little room for average
losses while calling for more intelligence or Judgment
than formerly in conducting business. The latter requirément bears with special force on the new additions, fôîr
any man can go into trade, whatever his qualifièâtiôns,
whereas new comers aie very apt to be inexperiencéd and
venturesome; and with the narrower limits prevailing
making the tést of survival so much more seveie, a worse
iesult than formerly of the weeding-out process ought to
cause no surprise.
CLEARINGS AN D SPECU LATION I N 1887•
A n examination and study of the records of bank
clearings always reveals interesting results, and this time
the investigation offers a greater number of features and
suggestions than usual. W e have just closed a year o f
great industrial activity. Whatever may be said of the
margin of profit or the course of prices, there can be no
doubt that the volume of businéss was of very large pro
portions. W e mined more coal and produced more iron
and built a greater amount of new mileage than ever
before in our history— the increase over the year 1886 (a
year of heavy aggregates) amounting in the case of the
first two items to 8 @ 10 per cent, and in the case of the
new mileage to about 45’ per cent— and yet the total o f
bank clearings for the year is less than 4 per cent greater
than the year before.
To one unacquainted with the causes that have been at
work and the various factors and elements that enter into
and affect the totals of clearings, such a result might suggest
the reflection that perhaps, after all, business has not been as
active in the United States as current reports have led one
to suppose. But when we come to analyze the figures and
find that in this city there has been no increase at all—
rather a slight decrease— and that outside of New Y ork
the increase amounts to over 13 per cent, it is easy to see
that some special agency or circumstance of an unfavor
able nature has offset the increase in clearings arising from
the extension and development of trade and business at this
centre. This view, too, is in harmony^with the reports of
large earnings and heavy traffic by the railroads which have
been one of the principal features of the year, and which
could hardly be explained on any other supposition than a
large and active trade.
The agency which has served in part to obscure the
business activity these figures should reflect, is the ces
sation and absence of speculation on our Stock Exchange
for which the late year has been so distinguished. Ob
viously stock speculation is more quickly felt and seen in
clearings than are the operations and dealings connected
with ordinary trade.
Hence the fact that almost all
through the late year the stock market was depressed
THE
6
CHRONICLE.
and inactive, prices sinking lower and lower, has played
a very important part in keeping down the aggregates
of exchanges. It is hardly necessary to call attention to
the condition itself, for that is familiar to all our readers»
but the extent of the falling off is not so generally known.
Here is a statement showing the number of shares sold in
each year back to 1875, the approximate market value of
the sales and the average price per share.
NUMBER AND VALUE OF SHARES SOLD AT NEW YO RK STOCK EXCHANGE.
Valuest
Stocks,* Av’ge
Stocks,* Av’ge Valuest
Shares. Price (ap’roxim’te)
Shares. Price (ap’roxim’te) Year.
1887.... 84,914,616 611 $4,508,778,899 1880.... 97,919,099 69-60 $6,819,086,054
1886.... 100,802,050 65-6 5,885,662,200 1879.... 72,765,762 56-85 4,186,633,570
Year.
5,479,859,840 1878.... 39,875,593
1884.... 96,154,071 61-77 5,939,500,000 1877.... 49,832,960
1883.... 97,049,909 64-51 6,260,809,961 1876.... 39,926,990
1882... 116,307,271 66-12 7,689,453,436 1875.... 53,813,937
1885.... 02,588,947 64-1
54-10 2,157,269,581
52-20 2,601,280,512
53-40 2,182,050,483
53-20 2,862,903,683
1881.... 114,511,248 71-59 8,197,506,403
* The shares of stocks we take from the record Kept hy the Journal oj
Commerce, except for 1885,1886 and 1887, which are our own compila
tion.
t The values of sales are the figures made up hy The Public, except for
1887,1886,1885,1884 and a part of 1883, which are our own.
[V ol,
XL Vi.
W ith a falling off of 1,377 millions in the stock sales
at New York (remembering that each transaction
embraces the use of two or three, and sometimes even
more checks) it is easy to see why the total of clearings
shows such a small percentage of increase over the pre.
vious year, notwithstanding the greater industrial activity
that has prevailed. It may be well to note that railroad
bonds show a further decrease of 200 million dollars, the
value of the sales in 1887 having been only $292,413,287»
against $496,$70,111 in the twelve months ot 1886.
Taking, however, only the stocks, and considering each
sale as representing on the average the use of 2-| checks,
some important results are disclosed. In New Y ork for
instance, after eliminating the stock transactions on that
basis, we have left a total which compared with a similar
total of a year ago shows a large increase (over 17 per
cent) instead of as before a small decrease. Treating the
aggregate for the whole country in the same way— ihat
is, taking out the New York stock sales— we get instead of
an increase of less than 4 per cent, an increase of marly
15£ per cent, which of course puts a different phase on
the matter. Disregarding New York altogether, stock
sales and all, we find an increase in the clearings outside
of this centre of 13-2 per cent. In the following table
we present the totals for 1887 in all these va ious ways
in comparison with similar totals for the nine years pre
According to this the sales in the late year comprised
less than 85 million shares, against nearly 101 million
shares the year before. The value of the sales was only
about
thousand million dollars, against about 5-J thousand millions in 1886, the falling off being 1,377 millions.
A better idea of the depression prevailing, however, is ob
ceding.
____________________________________ _
tained when one observes that both in the number of
N e w Y o r k Cl e a r in g s .
shares sold and in the value of the same the totals for
Per Ct.
Per Ct.j Clearings
Per CtYear.
1887 are the lowest of any year since 1879. The average
2>é Times
Total
Inc. or Less 2)6 Times Inc. or
Inc. or
Stock Sales.
Clearings.
Dec.
Stock Sales.
Dec.
Dec.
price is, of course, governed by the relative quantity of
high-priced and low-priced shares sold, and in recent 1887........... $33,484,556,268 -0-6 $11,271,947,247 —23-4 $22,212.609,021 +17-1
1886........... 33,676,829,612 +19-0 14,714,155,500 +7-4 18,962,674,112 +31-2
years the latter have been quite prominent; nevertheless, 1885 ......... 28,152,201,336 —9 1 13,699,649,600 —7-7 14,452,551,736 —10-4
—172 14,848,760,000 —5-1 16,137,121,170 —25-9
it is interesting to observe that this average also is the 1884.......... 80,985,871,170
15,652,024,902 —18-6 21,782,275,970 —21-3
1883........... 37,434,300,872 -20-2
lowest since 1879, or $61-1 per share of $100, though in 1882........... 46,910,955,031 - 5 0 19,223,633,590 —5-9 27,693,321,441 —4-6
20,418,766,007
+18-2 28,958,116,876 +34-3
1881.......... 49,376,882.883 +27-9
1884 it was nearly as low, or $61-77 per share. In 1881 1880........... 38,614,448,223 +32-1 17,047,715,135 -(-64-9 21,566,733,088 +14-1
18,894,089,904 +29-9
10,341,583,925 + 94 5
the average was $71-59. The latter was the year of very 1879.......... 29,235,673,829 +47-2
-3 -2
5,318,173,952 -18-2 14,540,497,355
19,858,671,307 -6 -7
1878.........
heavy speculation, and compared with the totals then
Cl e a r in g s in t h e W h o l e Co u n t r y .
Per Ct.
reached the number of shares sold in 1887 records a de
Per Ct.
ings Outside Inc. or Les? 2% Times Per Ct.
Year.
Inc. or
New York Inc. or
crease of about 30 million shares, while the value of the
Dec.
New York.
Stock
Sales.
Dec.
Stock Sales.
Dec.
sales has declined no less than 3,689 million dollars, or
$51.051,818,743
+3-8
$39,779,871,496
i-15-4
$17,507,262,475
+13-2
1887...........
from 8,197 millions to 4,508 millions. From the follow 1886........... 15,518,431,439 -t-16’8 34,479,105,551 +24-3 49,193,261,051 + 1 8 +
-5 -8
+2*1 27,740,445,988 —4-9 41,440,095,588
ing table giving the sales and values for each month of 1885........... 13,287.894,252
29,157,894,373 —19-0 44,006,644,373 —14-8
1884........... 13,020,773,203 -8 -4
51,643,495,673
—14-8
35,991,470.771
—13-2
14,209,104,801
+3-0
the last two years it will be seen that while the transac, 1883...........
60,711,532,549
-4 -1
1882........... 13,794,577,518 -1-2 41,487.898,959 - 3 3
tions were small all through 1887, it was duriog the last two 1881..........
13,960.317,317 +22-7 42,918,434,193 +30-3 03,337,200,200 +26-7
49,989,848,223 +29-7
quarters that speculation was especially stagnant, July and 1880........... 11,375,400,000 +82-4 32,942,133,088 +16-9 38,526,473,829
+38*5
0,290,800,000 +16-8 28,184.889,904 +25-3
1879...........
December recording the smallest aggregates since June; 1878........... 7,955,100,000 —6-2 22,495,597,355 —4-1 27,813.771,307 —6-6
1885,— that is, if regard be had to the par value of shares
A further point the above statement makes prominent
sold; if the actual value of the sales be considered there is no is the heavy falling off in the clearings at New York as
total even in 1885 as low as those for December and July. compared with the preceding era of revived industrial
activity. Thus, as against the total of 33,484 millions for
SALES OF STOCKS AT THE NEW YO RK STOCK EXCHANGE.
1887, the aggregate in 1882 was 46,916 millions, and in
1886.
1887.
1881 49,376 millions. W e have already seen that as
Values.
Values.
Month. Number
Number
compared with those years, there has been a heavy con
of /Shares.
of Shares.
Actual.
Par.
Par.
Actual.
traction in stock speculation. Still, while that accounts
$
$
$
$
414,449,380
8,672,154
Jan__ 8,147,127 712,998,400
790,683,975 570,361,697 for a good part of the reduction in clearings, it does not
Feb__ 7,214,112 637,698,950 372,354,431 0,410,897 818,717,825 587,469,315 seem to account for it all.
Taking out 2-^ times the stock
March. 7,147,305 646,985,850 879,692,567 10,152,078 853,773,952 608,511,278
sales,
we
get
an
aggregate
of 22,212 millions for 1887,
Total 22,508,544 1,997,683,200 1,166,496,878 28,235,129 2,463,175,752 1,768,343,290
April... 9,467,679 804.299,750 472,416,416 6,410,551 584,167,700 376,762,373 which contrasts with 27,693 and 28,958 millions respect^
May,... 6,560,087 608,808,800 371,187,053 6,639,303 603,092,350 422,796,926
June... 6,988,882 617,742,450 393,074,204 7,111,197 654,423,225 452,180,030 ively for 1882 and 1881, showing even on this basis a con.
Total 23,016,598 2,025,846,000 1,236,677,673 20,161,051 1,841,683,275 1,251,739,329 siderable falling off. Altogether apart from the Stock E x
6m os.. 45,525,142 4,023,529,200 2,403,174051 48,396,180 4,304,859,027 3,018,081,619 change, however, the speculative spirit in those years was
Ju ly... 4,655.571 409,020,300 260,597,521 5,067,843 473,268,225 305,374,473
Aug. .. 6,388,154 547,471,250 342,864,173 5,045,025 470*150,425 305,537,166 very apparent, whereas in the late year— barring the
Sept.... 7,884,268 6(20,050,500 391,287,300 8,536,641 749,163,700 476,138,060 operations in one or two articles— there was little of it
Totals 18,427,993 1,586,142,050 994,748,994 18,649,509 1,692,582,850 1,087,047,699
in New Y ork or in the East generally, and during the
9m os.. 63,953,135 5,009,671,250 3,397,923,045 67,045,689 5,967.441,377 4,106,129,318
Oct..... 8,300,235 703,725,075 447,102,723 10,738,718 979,198,200 618,444,154 past six months there has been considerable liquidation in
Nov. .. 7,496,266 640,890,850
Dec ... 5,164,980 427,150,275
399,505,127 10,876,852 950,581,825
264,248,004 12,140,691 1,046,153,475
533,211,223
628.877,505
Total 20,961,481 1,771,766,200 1,110,855,854 33,756,361 2,975,933,500 1,780,532,882
Year... 84,944,616 7,381,437,45oJ4,508,778,899 100802050 8,973.874,877 5,885,662,200
progress.
Another feature of the above table worthy of note i s,
that outside of New Y ork the total of clearings is not only
January
7, 1888.]
THE
CHRONICLE.
larger than in 1886 (13*2 per cent, as already stated), but
decidedly larger than ever before. In fact, there have
been but few recent years when the total has not shown
growth. The development of the newer and remote sections
of the country of course tends steadily to enlarge the
volume of exchanges. It will perhaps attract notice, how'
ever, that the present ratio of gain is not quite so heavy
as in the years 1879-81. Thus while in 1885, 1886 and
1887 the increase was respectively 2-1 per cent, 16-8 and
13-2, in the other period an increase of 16’8 per cent in
1879 was followed in 1880 by an increase of 22-4 per cent?
and in 1881 by a further addition of 22-7 per cent. Still,
there would seem no question that the recent period of
activity has covered a much wider circle. The South
certainly has had a larger share in it than at any former
time. In this we refer not merely to the increased
railroad construction, but more particularly to the de.
velopment and extension that has been going on
in iron and other manufactures, and in general
industry.
There are very few clearing houses in the
South— none at all in the great iron centre— and hence a
good part of the increased business in that section of the
country does not find representation in our totals. The
cities that do report do not all indicate this growth very
clearly. A t New Orleans the gain over the previous
year reaches 11'7 per cent, which is not particularly sig
nificant, especially as there was scarcely any gain at all
the previous year, while at Norfolk the gain is only 7-6
per cent, and at Galveston there is actually a 10 per cent
decrease. But at every one of the points mentioned the
exhibit for the last quarter is much better than for the
full year. Furthermore Memphis and Louisville furnish
much better indications of the new growth. Here we
find in the one case a gain of 22 4 per cent this year
after a gain of 22-1 per cent the previous year, and in the
other case an increase of 20-5 per cent after an increase
of 7-1 per cent.
The improvement is more note,
worthy at Memphis because that point has in some
measure also had the benefit of develop ment in the West.
In the following we have arranged the figures so as to
indicate by geographical divisions the results in each
quarter of the last three years, thus covering in full the
period of revival since the W est Shore settlement in July»
1885, as well as the half-year preceding that event.
Clearings Reported.
(000s omitted.)
First
Second
Third
Fourth
Quarter. Quarter. Quarter. Quarter.
Outside New York...
-1887. 4,129,812 4,566,104 4,171,736 4,699.610 17,567,262
1886. 3.637,653 3,669,278 8,772,663 4,486,837 15,516,431
1885. 3,031,842) 8,154,780 8,113,544 3,926,344 13.226,510
This shows gains for two successive years in every sec
tion, excepting only New Y ork city. To indicate more
clearly the changes during the year, we give below the
clearings by months both with and without New
York.
MONTHLY CLEARINGS.
Month.
Clearings, Total AU.
1887.
1886.
Clearings Outside New York. .
P.Ct.
1887.
1886.
P.C t.
$
$
$
$
January... 4,370,822,843 4,143,139,849 +5-5 1,408,136,783 1,267,610,954 +11-1
February.. 8.695,294,565 3,848,019,032 -4-0 1,222,010,794 1,102,511,291 +10*8
March...... 4,335,761,645 4,172,610,767 +3-9 1,499,393,166 1,267,534,325 +18*3
Total .... 12,401,879,053 12,163,769,648 +2*0 4,129,540,743 8,637,656,570¡+13-5
April......... 4,513,017,992 3,610,313,360 +25-0 1,480,146.532 1,189,338,412 +24*5
May.......... 4,299,625,922 3,610,281,542 +191 1,508,857,535 1,199,953,881 +25*7
June......... 4,541,691,332 4,014,080,056 +13-1 1,576,269,407 1,279,917,154 +23*2
Total...... 13,354,335,246 11,234,674,958 +18-9 4,565,273,474 3,669,209,447 +24*4
25,756,214,299 23,398,444,606 +10-8 8,694,814,217 7,306,866,017 +19*0
4,023,906,785 3,798.494,306 +5-9 1,428,650.967 1,322,453,901 +8*0
3,843,054,732 8,649,962,616 +5-2 1,349,156,995 1,195,783,287 +12*8
4,076,793,467 3,859,825,968 +5-6 1,393,931,839 1,254,026,211 +11*2
Total...... 11,943,754,984 11,300,282,890 + 56 4,171,739,801 3,772,265,399 +10*6
6 months
J u ly .........
August....
September.
9 months
October....
November.
December.
87,699.969,283 34,706,727,496 +8'6
4,53 ¡,992,652 4,693,214,001 -3-3
4,527.384,375 4,640,871,146 -2-5
4,285,762,443 5,152,448,408 —16-8
12.866,554,018
1,559,052,246
1,596,183.946
1,545,372,265
11.079,131,416 +16-1
1,444,895,940 +7*9
1,458,936,285 +9*4
1,583,467,798 +0*8
T ota l.... 18,351,149,460 14,486,538,555 -7-1 4,700,608,457 4,437,300,023 +5*9
Tot. year 51,051,818,743 49,193,261,051 + 3 8 17,567,292.475 15,516,431,439 +18*3
As the falling off in stock speculation was most d e
cided in December, so that month makes the worst com
parison of the year, there being a decrease of 16-8 per
cent, including of course New York. But even outside
of New York the showing is the least favorable of any
month of the year, the increase being hardly more than
nominal. The comparison, it should be said, is with a
very heavy total the previous year. But in 1886 the De
cember aggregate outside of New Y ork was larger than
the November aggregate, while in 1887 it is smaller.
W e have remarked above upon the absence in 1887 of
that general speculative spirit which was so noteworthy
and conspicuous in 1879-81, but in certain articles and
commodities there has been at times, as stated, consider
able activity and excitement during 1887. Wheat espe
cially was subject to speculative influences once or twice
in the year. For this reason the following record of the
transactions on our New Y ork Produce Exchange will
possess more than the usual degree of interest. It is un
derstood, of course, that these transactions have very
little effect upon the totals of clearings, as they are settled
for on the Exchange. The table includes flour, wheat,
corn, oats, rye, and barley . and malt, and covers seven
years.
SALES OR FLOUR, W HEAT, &C., AT NEW
YO RK PRODUCE EXCHANGE*
[Two ciphers (00) omitted from the figures for Wheat, Cora,
Oats, Barley and Bye.]
Total
Year.
$
S
$
$
$
r 1887. 8,272,888 8,789,062 7,772,015 8,651,141 33,484,556
New York.................. 1886. 8,526,118 7,565,466 7,536,017 10,049,234 33,676,830
(1885. 6,098,312 5,788,162 6,518,641 9,747,086 28,152,201
1887. 1,200,844 1,342,188 1,129,355 1,295,434 4,967,821
Total New England . <1886. 1,157,428 1,103,511 1,062,680 1,806,851 4,630,470
(1885.
907,648 932,229 924,893 1,216,545 8,981,810
r 1887. 1,056,042 1,126,746 1,046,079 1,185.971 4,364,838
Total Middle............. ? 1886.
931,315 921,422 972,202 1,113,319 8,938,258
(1885.
769,483 792,627
794,651
955,819 3,312,580
r 1887. 1,137,782 1,833,320 1,258,202 1,405,261 5,129,565
Total Western........... ? 1886.
935,092 1,041,078 1,118,058 1,253,467 4,847,695
(1885.
789,482 898,186
888,262 1,101,622 3,677,552
r 1887.
568,469 555,358 509,280 642,754 2,275,856
Tot. South. & Sou hw. 1886.
475,970 460,111
449,607 572,098 1,957,786
(1885.
397,160 865,264 504,137 1,692,723
426,162
208,497
[1887.
166,675
238,820
220,190 829,182
143,156
137,848
San Francisco........... 1886.
170,116 191,102 642,222
1885.
139,072
134,578
140,474 148,221
562,345
1887. 12,402,150 13,355,166 11,943,751 13,850,751 51,051,818
To‘ al all..................
1886. 12,163.766 11,234,744 11,808,680 14,486.071 49,193,261
’ l885. 9,130,154 8,942,942 9,632,185 13,673,430 41,378,711
7
Flour.
Bbls.
1st quarter, ’87 771,495
“
’86 651,792
“
’85 870,915
2d quarter, ’87 787,455
“
’86 769,390
V
’85 828,830
3d quarter, ’87 886,698
“
’86 972,282
“
’85 882,814
4th quarter ,’87 981,165
“
’86 1,016,910
“
’85 791,005
Total
Total
Total
Total
Total
Total
Total
Wheat.
Com.
Bush.
389,194,1
254,788,2
329,043,0
524,534,7
400,670,5
342,530,0
303,466,0
387,815,7
350,158,0
521,211,6
507,139,9
382,220,5
Bush.
50,177,0
70,266,3
86,139,0
46,758,5
55,112,6
93,183,0
64,765,0
61,159,3
69,371,0
94,885,3
62,871,3
85,820,0
Oats.
Barl’y Rye.
&Malt
Bush. Bush. Bush.
19,502,0 1,308,8 109,0
11,426,1 568,6 4«,6
82,520,5 1,194,2 253,4
19,911,0 492,6 194,1
15,622,0 254,4 159,3
30,808,0 206,7 67,0
22,726,0 523,2
2,2
23,564,0 214,7 77,0
34,607,0
11,0 54,7
30,347,0 1,720,1
10,6
22,268,0 851,5 29,6
27,720,0 1,263,0
70,5
Total.
Bush.
463,762,657
340,029,914
453,069,217
595,434,448
475,482,110
470,524,435
395,472,541
477,205,969
453,174,343
652,589,893
597,736,395
500,653,523
1887...... 3,426,818 1,738,406,4 256,585,8 92,486,0 4,044,7 315.9 2,107,259,589
1886...... 3,410,3741,550,614,8 249,409,5 72,880,1 1,889,2 314,5 1,890,454,388
1885......'8,373,56411,403,951,5 334,513,0 125,655,5i 2,674,9 445,6 1,882,421,518
1884...... 3,560,093 1,163,342,5 355,312,1 123,519,912,730,3 2,623,1 1,663,548,319
1883...... 4,646,985 1,524,745,0 623,668,0 241,202,8 2,567,6 4,632,1 2,417,726,933
1882...... 5,166,465 646,470,5 445,172,2 152,637,0 1,700,0
1,269,228,748
1881...... 5,198,390 488,364,2 233,839,0 62,765,512,067,+1,619,1 812,048,005
Thus the dealings in flour and every one of the cereals
were larger than in the year preceding; it is only in wheat
however that the increase is very heavy. In that case
the gain reaches 188 million bushels, and the total is larger
than in any other of the seven years given. The sales of
corn on the other hand were 367 million bushels below
those of 1883, and hence it is that the aggregate for all
the cereals is 310 million bushels smaller than in that
year, though with that exception the heaviest given.
H IE
8
CHRONICLE.
RETROSPECT OF 1887.
Daring the year 1887 some 12,724 miles of railroad
"were constructed in the United States. This furnishes the
key to the situation, for although there were many other
incidents affecting trade, finance and transportation, there
was no other single fact of such commanding importance
in its hearing upon the various husi tress interests of the
-Country. About $254,000,000 must have been disbursed;
Steel rails advanced to $40; the earnings of 100 railroads
in cre a s e d over $35,000,000 in eleven months. Gold was
imported to the net amount of $34,306,111. On the
-other hand seats at the Stock Exchange declined from
$30,000 early in the year to $20,000 in December»
..and mercantile failures in the year were $167,560,944’
against $114,644,199 in 1886.
Other matters worthy of mention were the Inter-State
Commerce law, the extraordinary course of foreign trade
and the gold imports, the speculation in merchandise and
:in western real estate, the sluggish movement at the Stock
Exchange, the railroad reorganizations, the activity in iron
■and steel interests, the out-turn of the crops, and finally
"the unparalleled activity in railroad transportation, leading
t o heavier gross earnings in 1887 than were ever before
Recorded in a single year.
For the purpose of showing at a glance the industrial
a n d financial statistics, which present a sharp comparison
o f the two years 1886 and 1887, the table below has been
•compiled. The figures relating to the production of wheat
corn and cotton for the year 1887 are necessarily approx
imate, and the estimate of the best authorities is taken in
each case. The aggregate mileage operated on the one hun
«dred railroads whose earning3 for the eleven months are
reported was 60,301 miles on December 1, 1887, against
■¿6,893 miles December 1, 1886. The immigration statis
tics are given exclusive of immigrants from Canada and
.Mexico.
1886.
•Coin and currency in U. S. N ov.l ..
Bank clearing* in United States___
-Mercantile» failures............................
.Anthracite coal... (tons of 2,24<
Petroleum (runs) production...
immigration into U. S ........ (11 mos.).
1887.
1,678,009,959
1.586.271.000
49,193,261,051 51,051,818,743
167,560,944
114,644,119
656,708,816
607,151,087
642;043,311
627,986,697
292,753,843
257,470,317
12,724
9,000
450,000,000
457,218,000
1.665.441.000
1,453,000,009
6.650.000
6,513,623
7,000,' OO
6,365,32 *
2.128.000
1,749,899
34,791»,000
32,136.362
21,570,000
26,043,6 k5
486,660
365,453
It is estimated by some of the best authorities that when
complete returns of railroad construction have been
deceived, it will be found that the new road built in 1887
;approxi mated 13,000 miles ; but for the present, to be on
(the conservative side, we adopt the current statement of
12,724 miles, which, added to the 9,000 miles built in
1886, makes 21,724 miles of new railroad constructed in
the United States during the two years from January 1
1336, to January 1, 1888. The significance of this exhibit
in its bearing upon general business interests is evident
■at a glance. It is not safe to put the cost of rail
road construction, taking the whole country together,
at a figure much below $20,000 per mile, including
bridges, tunnels, stations, terminal property, transporta
tion of men and material, and all incidental expenses
H ence the building of 12,724 miles of road means the
disbursement in one way and another of about $254,480
000 in the year. If it be assumed that a similar amount
o f bonds or stock per mile is issued on the new road
constructed,, then we have the above amount of $254,480,000 in new securities to be fed out and digested by the
inves'ing public within the twelvemonth. The fact that
[ V ol .
XLVI.
Some such am unt of securities was probably fed out m
1887, and remained in bankers’ hands pardally undis*
tributed at the close of the year, should be most thought
fully considered in endeavoring to form any rational
diagnosis of the prolonged attack of indigestion under
which the Stock Exchanges were suffering in the last six
months of that year.
The Inter-State Commerce law, of which a full copy
was published in the C h r o n ic l e of Feb. 12, 1887, was
pending for some time in Congress and threw a shadow
over the stock market, as the effect of its provisions when
put in force could not be predicted with any certainty.
The bill finally became a law by the President’s signature
on Feb. 4 and went into effeot on April 5. The Commis
sioners appointed under it by the President were men o f
high character, and, without going into the details of their
proceedings, it is sufficient to remark here that the law
had not up to the close of 1887 worked as injuriously as
had been feared.
The strike of the coal handlers in Jersey City began
early in January, and the strike of freight handlers in
New Y ork on the 23d of the month.
A t the same time the fear of a war between France and
Germany exerted much influence on the markets at home
and abroad during January, and until the 21st of February»
when the German elections took place, and Bismarck’s
policy was fully sustained. This put an end to most o f
the war rumors and the markets were no longer disturbed.
The first half of the year was marked by extraordinary
speculations in some leading articles of merchandise, par
ticularly in coffee and wheat. Gigantic efforts were made
by cliques to corner the markets of the world in the supply
of these great staples, and, though quite separate, each ter ~
minated early in June with disastrous results to the par*
ties interested and also with heavy losses to many out.
siders who had gone into the speculation on their own
account. The real estate speculation in town lots became
very active in some of the Western and Southern cities^
and the wave of inflation in this direction reached its
maximum later in the year, probably in September or
October.
The foreign trade movement of the United States in
1887 was quite extraordinary, and the resulting excess of
imports of merchandise over exports, commonly designated
as the trade balance, amounted to $14,665,505 for the
eleven months ending with November 30, against $20,835,610 excess of exports in the same period of 1886. But
notwithstanding this apparent balance against the country
there was a net import of gold in the same period (all in
the last five months) amounting to $34,306,111, against a
net export of gold in 1886 of $11,324,501.
There was great activity in the iron and steel trade, as a
result of the large railroad demand, and during the first
half of the year profits must have been very large. Steel
rails were sold as high as $40 per ton in March, but this
was the maximum, and from that point prices receded to
$32 50 in December.
The crops of 1887 turned out fairly, the corn crop being
the least favorable of the great staples, while wheat was
estimated by the Agricultural Bureau about the same as
in 1886, and cotton was estimated b y the C h r o n ic l e and
other authorities as being larger than the crop of 1886,
without fixing any definite figures. Pursuing the method
heretofore adopted in this review, and taking the arbitrary
standard of values in New Y ork City about the 1st of
January following the crop, we find that if the whole of
each crop could have been laid down in New Y ork on
the11st of January, the values would have been approxi
mately as follows.
January
7, 1888.]
THE
Crop o f 1886.
Yield.
Wheat.hush. 457,818,000
Com...bush. 1,665,443,000
Cotton, bales
6,513,683
Price,
Jan.’87
cts.
93M
48%
9%
Total values
CHRONICLE.
Crop o f 1887.
Value o f
Crop.
Yield.
Price,
Jan.’88
Value of
Crop.
*
cts.
i
428,641,875 450,000,000 92
414,000,000
801,493,481 1,453,000,000 63
915.390.000
300,733,974
6,600,000 10 9-16 384.620.000
1,530,869,330
1,664,010,000
The reorganiza'ion of insolvent railroads was one of the
great features of the year in financial circles. A number of
roads were sold in foreclosure, while Philadelphia & Read
ing and New Jersey Central were successfully reorgan'
ized without any foreclosure and their respective receivers
discharged on the first of January, 1888. There was not
a new default by any prominent railroad during the year,
but the Baltimore & Ohio became slightly embarrassed by
floating debt and suspended its dividend in November,
while the Chesapeake & Ohio, which had not paid full
interest for some years, was placed in the hands of a
receiver at the suit of its managers. Mercantile failures
during the year were larger than might have been antici
pated, the total liabilities footing up $167,560,944, against
$114,644,119 in 1886.
1st Quarter. 2d Quarter. 3d Quarter.
Years. Amount;
Amount.
Amount.
1876 . $34,644,156 $43,771,273 $47,857,371
1877'. 54.538.074 45,068,097 42,346,085
1878 . 82,078,8*6 48,753,940 66,378,363
1879 . 43,112,665 22,666,725 15,275,550
1880 . 12.77.7.074 20,111,689 12,121.422
1881 . 24,447,250 16,499,395 10,112,365
18«2 . 39,338,271 17,242,649 18,942,893
1883 . 38,372.643 27.816,391 52,072,884
1884 . 40,183,978 84,204*304 56,627,821
1885 . 46,121.051 28,601,304 23,874,391
1886 . 29,681,726 20,752,734 27,227,630
1 8 8 7. 32,161,7-2 22T976,330 73,022,556
4tn Quarter.
A m ount;;
Total Year.
Amount.
$34,844,986 $191,117,786
48,717,680 190,669,936
37,172,003 234,3^3,132
17,094,113
98,149,053
20,741,815
65,752,000
30,096,922
81,155,932
32,023,751 101,547,564
54,612,254 172,874,172
45,324,324 226,343,427
25,623,575 124,220,321
36,982,029 114,644,119
39,400,296? 167,560,944
Railroad earnings were large beyond precedent, and the
gross earnings of 1887 much exceeded the record of ahy
previous year. For eleven months (the latest returns yet
received) the total for one hundred roads was $292,753,843,
against $257,470,317 in 1886. Net earnings were not
relatively as large as gross, but many roads showed a
remarkable increase in both gross and net business. To
the activity in railroad construction and in general busi
ness, together with the fair maintenance of rates, was
chiefly attributable the large increase in railroad traffic.
The following summary shows the condition of the New
Y ork City Clearing-House banks, rates of foreign exchange
and prices of leading securities and articles of merchan
dise, about the 3d of January, 1886, 1887 and 1888.
STATISTICAL SUMMARY OK OR ABOUT JAN.
1886.
ew York City B anks —
Loans and discounts.......... S
Specie..................... .
Circulation.............
Net d e p o s it s ..........I I !" !!»
Legal fen d ers.................... Hjj
Legal reserve....... ................. s
Reserve held.......................... $
Surplus reserve............. .....Si
M oney, Exchange, Silver —
Call loans...............................
Frime paper, sixty days!!!!!.'
Silver in London, per oz
Prime sterling bills, 60 days! I
3. 1886, 1887
1887.
AND
1888.
188?.
ff
I. A g r ic u l t u r a l P r o d u c t s .— The yield of cereal product^
in 1887 was fair except as to corn, in which there was a seri
ous loss from drought after the season had so far progressed
as to promise the best crop ever gathered. Wheat turned ou t
much better than expected according to the Bureau reports
which increased its estimate in October about 30,000,000»
bushels over previous months.
In regard to cotton there were widely different estimates,
but the C h r o n ic l e and other good authorities place the crop
o f 1887 as in all probability above that of the previous yeajv
In the following table are given the yield of wheat, corn, oats;
and cotton for a period of thirteen years past, including
estimates for the crop of 1887:
Year.
Wheat.
Corn.
Bush.
Bush.
1866................ 151,999,906
867,946,295
1876
...... 289,356,500 1,283,827,500
..... 364,194,146 1.342.558.000
1877
1878
...... 420,122,400 1,388,218,750
1879 (census). 459,483,137 1.754,591,676
1 8 8 0 ...... . . . . 498,549,868 1,717,434,543
18?1................ 383,280,090 1.184.916.000
1 8 8 2 ...... . . . . 504,185,470 1,617,025,100
..................
..................1,551,066,895
1883
4 21,086,160
1884
..... 512,763,900 1,795,528,432
1885
...... 357.112.000 1.936.176.000
1886
...... 457.218.000 1.665.441.000
1897................ 450,000,000 1,453,000,000
Oats.
Cotton.
Bush,
268,141,077
320.884.000
406.394.000
413,578,560
407,858.999
417,885,380
416.481.000
488,250,610
571,302,400
583.628.000
629.409.000
624.134.000
60o,000,000
Bales.
2,059,271.
4,485,423
4,811,265
5,073,531
5,757,397
6,589,320»
5,435,8456,992,234
5,714,052;
5,669,021
6,55.0,215
6,513,623
6,650,00o1'
The exports of wheat and flour in the fiscal year ending Junes.
80,1887, were large, although exports were checked in the
spring months by the great speculation in wheat carried on b y
the Chicago and California cliques. After the price broke on
the failure of the cliques in June and July the price of No. 2ted winter wheat in New York went below 79 cents, and the ear
ports were greatly stimulated ; during the quarter ending Oct.
1 the shipments reached very large figures, but with the ad
vance in prices they again fell off in the later months to a
moderate volume.
For the Government fiscal years ending June 30, the follow
ing table shows the exports of wheat, wheat flour, corn and?
cotton for the last nine years :
e x p o r t s o p pd o u r , w h e a t , c o r n 'a n d c o tto n .
Year ended June 30.
Wheat Flour.
Barrels,
Wheat.
Bushels
1879........................
1880........................
1881..........................
1882...........................
1883.......................
1884............................
1885........... .
1886.......... .............
1887............................
5,629,714
6,011,419
7,945,786
5,915.686
9,205,664
9,152,260
10,648,145
8,179,241
11,518,449
122,353,936
153,252.795
150,565,477
95,271,802
106,385,828
70,349,012
84,653,714
57,759,209
101,971,949
Corn.
Bushels.
Cotton
Bales.
86,296,252 3,462,741
98,169,877 3,811,15B
91,908,175 4,549,74340,586,825 4,626,80»
3,884,233:
51,834,41t 3,969,568
4,283,723*
40,307,252 4,489,920»
II. M a n u f a c t u r e s , M in in g , & c .— There was much activity
in manufacturing early in the year, especially in all branchesof the iron and steel industry, and as prices were well sus
tained, No. 1 pig iron selling up to $21 50 per ton and steel
rails at $40, the profits must hay© been large. Much was don©
in developing new iron and coal districts, particularly the?Birmingham district in Alabama. The estimate of the num*
ber of furnaces in blast PH Dec. 1,1887, was 336, with a weekly
capacity of 140,040 gross tons of 2,240 lbs., against 323 furnaces
with a weekly capacity of 123,284 tons on Dec. 1, 1886. Th©
figures of estimated production in 1887, given in the prelimi
nary statement of the Iron and Steel Association, are as fol
lows, in tons of 2,000 lbs.:
339,909,800 343.687.500 356,540,000
89,721,100 82,718,100 71,139,300
9,979, «00
7,911,500
8,077,300
376.959.300 359,268,600 35^,359,800
28,808,200 19,370,400 27,259,800
94,239,825
89,817,150
118.529.300 102.088.500
24,289,475 12,271,350
1886,
8,559,150
1887.
Products.
Tons of 2,000 lbs. Tons of 2,000 lbs..
2%®5
4®8
4 ®6
4 ®5
Pig Iron...........................................
5®6%
5%®6
6,365,323
7,000,000
46i51fld,
Bessemer Steel Ingots..........
46l4d.
2,541,443
wr ”
4 86
Bessemer Steel R a ils ....................
4
8iia
1,749,899
2,184,000
United States B onds—
* 6s, currency, 1 8 9 8 ...............
132%
The production of pig iron, steel and steel rails in the131%
125
4%s, 1891, coupon.............HI]
112%,
110 %
107%
United
States has been as follows for eleven years:
4s of 1907, coupon...........
123
127%
125%
R ailroad Stocks—
Bessemer
Bessemer
New York Central & Hud. Riv.
106
113%
107%
Pig Iron.
Steel Ingots.
Steel Rails.
Erie (N. Y. L. E. & W .)........
26%
34%
28%
Years.
Tons
of
2,00o
lbs.
Tons
of 2,000 lbs. Tons of 2,000 lbs.
Lake Shore & Mich. Southern.
88%
95%
94%
Michigan Central...........
76%
93%
1877.......... |...
87%
2,314,585
560,587
432,169
Chicago Rock Island & Pacific
128%
126
112 %
1878................
2,577,361
732,226
550,39»
Illinois Central......... .............
140
133%
Ï879.................
118%
3,070,875
928.972
683,964
Chicago & Northwestern, com.
1103s
115
1880.................
107%
4,295,414
1,203,173
954,460
Chicago Milw. & St. Paul, com. '
96%
90%
75%
1881.................
4,641,564
1.539,157
1,330.302.
Delaware Lack. & W estern...
125ia
137%
1882.................
129%
5.178,122
1,696,450
1,438,155Central of New Jersey.... . . . .
44
56
1883.......
75
5,146,972
1,654,627
1,286,554
Merchandise —
1884..................
4,589,613
1,540,595
1,116,621
Cotton, Middl’g Uplands.* tt».
9%
9%
1885.................
4,529,869
„ ,,1 0 9 3 8
1,701,762
1,074,607
Wool, American X X ___. « a>.
37
34®38
1886.................
31%®32%
6 365,328
2,541,493
1,749,899
Iron, Amer. pig, No. l . . $ ton. 18 00® 18 50 20 00®21 00 21
00 "@21 50 1887.................
7,000,000
(?)
2,184,000
Steel rails at mills......... . . . . 34 0 0935 00
37
32 00®33 00
Wheat, No, 2 red w in .$ bush I
92ia
93%
92
The
petroleum
production
in
1887
was
quite
small.
Prices
Corn,West; «tix.No. 2. $ bush
f Oia
48%
63
Pork, mess.................... » bbi. 10 00@10 25 12 25®12
75 15 50® 16 00 were low most of the year, and on November 1st the agrees
Petroleum pipefiub certified.! __ 91%
j
70%
90%
ment among leading producers to restrict the output went into
THE
10
CHRONICLE.
[YOL.
XLYI.
. .
effect. A s a result, the runs of crude oil were only 21,570,000 redeem bank notes yet to come in, making a total reduction
bbls. , against 26,043,645 in 1886. The runs and deliveries in in national bank circulation present and prospective of $40,110,382. The total amount of Government bonds deposited
each year since 1879 have been as follows:
by the banks to secure circulation was $184,444,950 on Jan,
Deliveries.
Runs.
Deliveries.
Runs.
1888, against $229,438,350 on Jan. 1, 1887.
Barrels.
Barrels.
Barrels.
Barrels.
24,053,902
1884.........
23,704,510
15,765,800
1880......... 24,790,164
The New Y ork City Bank movements of the year did not
24,086,104
1 8 8 1 ...... 29,674,462 20,240,121 1 8 8 5 ...... 21,225,203 26,396,483
26,013,645
present any features of unusual importance. The city banks
1882........ 31,789,195 22,094,300 1886
21,570,000 26,980,000
1883..........24,385,968 21,967,636 1887
were apparently well managed, the demand on them for
The anthracite coal mining was carried on with much vigor» loans was heavy, and the only complaint from customers was
and the out-put was much ahead of any previous year, the the common one of late years, that the banks loaned so largely
total for 1887 being 34,700,000 tons, against 32,136,362, in 1886, on securities that they could not give sufficient accommoda
which was the largest previous year.
The price of coal tion on mercantile paper. The m aximum surplus reserve was
eached on Jan. 29, when it was $22,298,450, and the minimum
was advanced in the later months, owing to the long strike o f
Deposits reached the
miners in the Lehigh region and the very large demand for on June 25, when it was $3,345,900.
highest point on Feb. 12, at $392,771,200, and loans and dis
shipment W est and from the trade at large.
The aggregate production for the last eleven calendar years counts were highest on April 9, at $370,917,500.
The following were the totals of the New York City Clear
(1887 being partly estimated) has been as follows :
ing-house banks about the first of each quarter in the year
Year.
Tons.
Year.
Tons.
...................... 31,793,027
...................... .20,828,179 1883
1877
......................30,756,995 1887 and near the 1st o f January, 1888:
1878
..................
17,605,2621884
1885
..............................
31,623,530
1879
....................... 26,142,689
Surplus
Legal
Net
Loans and
...................... 32,136,362
Specie.
....................... 23,437.242 1886
1880
Tenders. Reserve.
Deposits.
Discounts.
1887”
..............................34,700,0Ö
0
1881
....................... 28,500,017
1 8 8 2 ....... .................... 29,120,096
$
$
$
$
$
14,786,675
III. F o r e ig n C o m m er c e o p t h e U n it ed S t a t e s .— The Jan. 8, ’87 348,479.300 85.509.200 370,138,900 21,812,200
April 2, ’87 365,659,700 77,996,100 372,411,700 19,487,400 4,379,825
foreign trade of the country presented features which were July 2, ’87 363,553,200 73.288.200 367,081,300 22,133,200 3,651,075
Oct. 1, ’ 87 344,795,400 75,144,800 345,826,000 20.328.800 9,017,100
quite unusual, and contrary to anything witnessed in recent Dec
3 1 .’87 356,540,000 71,139,300 359,359,800 27.259.800 8,559,150
years. For the eleven months ending with November there
The following table shows the m axim um and minimum of
was an excess in the imports of merchandise over exports
deposits and surplus reserve in each of the past ten years :
amounting to $14,665,505 and in the face of this balance
DEPOSITS.
against us there was an import of gold amounting to $34,Minimum.
Maximum.
306,111 net. This condition of affairs was almost phenomenal
£1878 ................................. $223,432,700 Aug. 10 $198,985,300 May 25
193,121,700
April 5
in our trade statistics, and it was only accounted for on the 1879 ................................. 254.770.700 Aug. 2
^880 ................................. 307.796.700 Nov. 6 242.037.100 Jan, 3
theory that a large amount of our stocks and bonds had been 1881 ................................. 352,658,800 July 23 271,668,800 Mar. 12
July 29 277,930,000 Nov. 25
quietly absorbed abroad and taken from our market rather 1882 ................................. 322,863,200
1883 ................................. 327,326,700 July 14 279,944,200 Mar. 31
363,544,400
Fet». 16 280.698.100 June 21
1884 .................................
1885................ ................. 391,804,900 Aug. 22 340,816,300 Jan. 3
396,080,800
Feb. 13 345,708,500 Sept. 11
1886.................................
392,771,200 Feb. 12 341,935,900 Sept. 24
1887............
.............
Continent.
SURPLUS RESERVE.
The following table shows the trade movement in the first
M inimum.
Maximum.
half of the year to July 1 and in the eleven months— Jan.
$3,531,600 Oot. 12
$24,232,475 July 20
to Dec. 1— the statistics for December not being yet at hand 1878.
def.
671,225 Dee. 8
17,877,300
Feb.
1
1879.
18,471,275 July 17 l e t 2,461,875 Deo. 4
1880
def.
3,333,275
Oct. 7
16.728.575
May
20
1881.
11 mos., Jan. 1 to Dec. 1.
6 mos. Jan. 1 to July 1.
10,895,600 April 29 def. 3,024,950 Nov. 11
1882.
def.
6,770,875
Mar. 17
10.007.575
Jan.
27
I 1-83
1886.
1887.
1886.
1887.
42.297.450 Dec. 4 def. 6,607,125 May 22
1884.
24,712,650
Dec.
24
64,724,100 July 30
1885.
$
$
4,008,200 Dec. 18
$
36,156,425 Jan. 30
$
642,043,311 627,986,697 1886.
327,610,874
330.390,064
3,345,900
June
25
Exports ..
22.298.450 Jan. 29
656,708,816 607,151,087 1887.
328,589,612
357,480,191
Imports ..
978,738 Im. 14,665,505 Ex.20,835,610
Gold (exc.) Ex. 1,166,173 Ex. 34,349,628 Im. 34,306,111 Ex.11,324,501
E xco bs ___ Im.27,090,127 Im.
I Y . R a il r o a d C o n stru ctio n a n d R a il r o a d E a r n in g s .—
The construction of numerous railroads begun or projected in
1886 was carried on with great vigor in 1887, and the total
number of miles built, as reported by the Railway Age
reached 12,724, as made up from returns received to Dec. 31
W ith possible additions to be made by reports from other
roads not heard from at that date, the total for the year may
be run up to 13,000 miles. A good part of this mileage was
wèst of the Missouri River and was constructed by the large
corporations competing for business in that territory. Such
road was built at the lowest cost per mile and with bonds at a
low rate of interest, so the annual charge for interest to the
companies will be at a m inim um ; and as most of them are pay
ing dividends on a large amount of stock, there is little dan
ger of their defaulting on the new bonds.
Railroad earnings were the heaviest ever know n, and gave
evidence of the great activity in transportation business in all
sections of the country. East of Chicago rates were generally
well maintained and the roads had good profits, but west from
Chicago there was some cutting to meet the competition aris
in g from new roads, and consequently net profits were reduced
For eleven months to Nov. 30 our figures show that one hundred
roads earned $292,753,844 gross in 1887, against $257,470,317
in 1886, the mileage operated by these companies being 60,301
miles in N ov., 1887, against 56,893 in N ov., 1886.
BANK MOVEMENTS.
THE MONEY MARKET.
The money market during 1887 worked more closely, taking
the whole year together, than at any previous period for some
years past. The banks and other regular money lenders
reaped good profits on a demand for money which kept up
from March to December. The tendency of operations was
to draw funds away from the Atlantic cities to the Interior
and keep them there, as the railroad building in the far W e st
and South, the speculation in town lots, and the wheat
corners in Chicago and San Francisco, all called for a large
amount of money. On the other hand, the demand in New
York and Boston, to carry new railroad bonds in the hands of
bankers and syndicates, was very large, while the call for
money on stock speculation was moderate. Rates were easy
in this market till March, whon they began to harden, this
tendency increasing in April, when stock borrowers some
times paid 7@ 8 per cent for call loans, and once as high as
15 per cent. There was no further stringency in money till
after the middle of June, when the markets were greatly
unsettled by the collapse of the coffee bubble here and the
wheat bubble in Chicago, and the consequent demand for
money. On the 24th of June there was a sharp calling in o f
loans, and rates on call advanced to
Per cent for money
loaned from Friday till Monday, the rates continuing very
sensitive and irregular till after the first of July.
During the last half of the year there was never any great
stringency in money, but there was great trouble in August
and September in borrowing on any railroad collaterals except
those that were first-class, and the fear of tight money influ
enced the stock market. The Treasury came to the relief of
the situation, first by purchasing on proposals over $25,000,000
of bonds and then in October by offering to place its surplus
with depositary banks on Government bond security, on the
basis of 110 per cent of money so deposited for bonds at par;
up to the close of the year $52,199,917 had been so deposited
In the national banks of the country there was a consider
able reduction of circulation (caused by the calling in of
bonds deposited by the banks as security for circulation); on
January 1, 1887, the amount of national bank circulation
outstanding was $296,486,877, and on January 1, 1888, $268
168,234, showing an actual decrease of $28,318,643 ; but in
addition to this there was an increase during the year of $11
in legal tenders deposited with the U . S. Treasurer to 1with national banks.
January
7, 18É8.J
Weekending
Friday.
Call
Loans.
Prime
Paper.
Week ending
Friday.
CaU
Loans.
1 ® 8
3 @ 6
2 ® 6
2*2® 5
2*2® 5
3 @ 5
1*2® 4*2
2 ® 5
2 ® 7
2 ® 7
3 ® 7
2 *3® 8
3 ® 9
3*s@15
3 ® 9
3 ® 6
2*2® 7
3 @ 8
3 ® 7
ii ® 6
3 ® 8
4 ® 7
3 ® 5
2 @10
3@6-t-38p d
3@6-i-*4p.d
5 @ 6*2
5 @6
5 ®6
5 @5^2
4*2@5*2
4*2@5
4*2@5
412®5
4*2@5*2
5 ® 5*2
5 ®6
5 ®6
5 ®6
5 @6
5 ®6
5 @5*2
5 @5*s
5 @5*2
5 ® 5*2
5 ®5*2
4%@5*s
4% @5*2
4*2@5*4
4*2@5*4
4*2® 5 *2
5 @ 6*4
July 8...........
“ 15............
“ 22...........
“ 29...........
Aug. 5 ............
“ 1 2 ............
“ 19............
“ 26............
Sept. 2 ___. . . .
“
9 ............
“ 16............
“ 23............
“ 30 ........
Oct. 7 ...........
“ 14...........
“ 2 1 ............
“ 28............
Nov. 4 ...........
“ 1 1 ............
“ 18............
“ 25............
Dec. 2 ...........
“
9 ............
“ 16...........
“ 23............
“ 30............
3 @10
3 @ 6
2 ® 5
3 @ 6
3*2® 6
3 @ 8
3 @ 7
3 @ 7
3 @ 8
3 @ 7
3 @ 7
3 @ 7
4 @ 7
3 @ 6
3 @ 5
2*2® 5
3 @ 6
3 @ 5
3 @ 7
3 @ 6
3 @ 7
2 @ 7
4 @ 6
4 @ 5
4 @ 6
4 @ 7
THE CHRONICLE.
11
Prime
Paper.
unfavorable effect, and stocks were generally depressed till
the end of February, when there was a recovery. During
March the market was stronger, influenced to some extent by
“ 21.
“ 28.
the movement in special stocks and by some foreign buying.
Feb. 4.
The Inter State Commerce law went into effect April 5th, but
“ 11.
“ 18.
the Commissioners soon decided to suspend for ninety days
« 25.
Mch. 4.
the operations of the fourth section relating to the long-and“ 11.
short haul in its application to a number of leading rail
“ 18.
“ 25.
roadshaving the competition of water routes, and this ielieved
April 1.
the app ehension. The tendency of prices was generally
“ 8.
“ 15.
upward till the middle of June, and this period was practi
« 22.
a 9Q
cally the best of the year, with a decidedly strong tone. On
May 6.
June 14 came the break in the coffee speculation here and on
“ 13.
« 20.
the l5ih the collap e of the wheat corner in Chicago, leading
if 27.
June 3.
to the bad failure of the Fidelity National Bank of Cincinnati.
“ 10.
These events shook confidence very severely, and they were
“ 17.
“ 24.
followed by the tumble of Manhattan Elevated stock in this
July 1.
market about 41 points, when M*\ C. W. Field sold out a
UNITED STATES BONDS.
block of 50,000 shares to Mr. Gould at 120. Money became very
There was no special feature in governments in the first active, loans were called, and on June 24 the market was
half of the year; the last of the 3 per cent bonds were retired almost in a panic and remained very sensitive for sometime
by the call for redemption issued on May 21. O n A u g u s t a afterwards.
the Secretary offered to anticipate interest payments on tbe ^
The bears organized a strong party in June, and in July
and 4 ^ per cent bonds to and including Jan. 1,1888, and also to stocks generally declined, the famous Baltimore & Ohio deal
purchase 4 ^ per cent bonds for the sinking fund. On weekly with H. S. Ives coming to an end by the positive announce
offerings he purchased $11,565,000 of 4J^ per cent bonds up ment of Mr. Garrett that the purchasers were unable to fulfill
to Sept. 21, and on Sept. 22 decided to purchase prior to Oct. 8 their agreement. But the whole Baltimore Sc Ohio transac
$14,000,000 of 4 and
per cents for the sinking fund, of tion hung over the market for so long a time, and disclosed1
which he actually bought about $13,500,000. In October he such weakness on the part of one of the great trunk line rail
decided to deposit funds with the national banks, as men roads, that it exerted over the stock market one of the most
tionedabove un'ier “ M >ney Market.” The net debt less cash pernicious influences of the year.’
in the Treasury was on January 1, 1887, $1,341,984,495, and
In August the market had spasms of strength, as the fear of
on January 1, 1888, $1,225,598,401, showing a decrease of tight money was somewhat relieved by the action of the
$116,386,093. The Government bonds outstanding decreased Treasury in purchasing bonds. Late in the month Grove$88,732,720 as follows:
steen Sc Pell, the bankers of the Rome Sc Decatur Railroad,
U. S. BONDS OUTSTANDING.
failed, and this gave rise to much caution among the lenders
of money on railroad collaterals. The purchase of the Balti
Description.
Jan. 1,1888.
Jan. 1,1887.
Decrease,
more & Ohio Express business by the United States Express
Co immediately followed, and then the announcement of the
4*28 of 1891.............1 $230,544,600
$250,000,000
$19.455,400
4s of 1907
732,593,630
737,971,950
5,378,320 Baltimore & Ohio Syndicate to relieve the company from its
3 percents...............
63,899,000
63,899,000
Navy Pension Fund
embarrassmement of a floating debt of about $10,000,000.
"Ì4,0ÓÒ',Ò'JÒ
14,000,000
Currency 6s............
64,623,512
64,623,512
The bears conducted an active' campaign and made large
Total..................... $1.041,761,742
$1.130.494.462
8*88.732.720 profits, and after experiencing a stronger tone in the last part
of September prices again became weak and feverish. The
FOREIGN EXCHANGE.
In some respects the course of foreign exchange, as an in prospects for easy money were more permanently assured by
dex to the movements in trade and securities, was one of the the action of Secretary Fairchild in October in offering to
most remarkable ever known. The trade movement in eleven deposit money with the national banks, taking the 4 per cent
months of 1887 presented the unusual exhibit of an excess of Government bonds as collateral at 110, instead of 90, as for
$14,685,505 in imports of merchandise over exports. Not merly. The bears appeared to have covered their contracts,
withstanding this excess there was a net import of gold in the and early in November the market was strong, prices advanc
same time amounting to $34,306,111. These results were ing, and the business of the second week, on general buying,
accounted for by the borrowing of sterling during part of the was one of the best of the year. This did not continue, how
year to use the money here at higher rates, but secondly, and ever; prices fell off again and December was a very dull
mainly, by the export of a large amount of our stocks and month, the volume of sales at the Board much of the time
bonds to the foreign markets. In January and February the being near a minimum. The year closed with depression
strike of freight-handlers stopped shipments of produce, and among stock brokers, notwithstanding the excellent state
for a short time rates of exchange were pushed up, but they ments of the Vanderbilt roads, and the remarkable record of
fell off when the strike failed, and never again ruled near the the year in railroad earnings.
Sales at the Stock Exchange have been as follows since 1879t
specie-exporting point. In July the imports of gold began
and kept up till the middle of October, when exchange rates
RR. and Mis. RR. and Mis. Government
State
Bank
began to harden and remained firmer till the close of the year.
stocks.
bonds.
bonds.
bonds
stocks’.
The Bank of England rate was 5 in January, reduced to
Shares.
$
$
Shares.
$
4 on February 2, to 3% March 9, to 3 March 23, to 2 ^ April 1879........ 72,765,762 412.309.400 112,571,850 22,643,150 15,606
1 8 8 0 ....
97,919,099 569.910.200 58,459,600 15,497,400 15,354
13, to 2 April 2; advanced to 3 Aug. 3, to 4 Aug. 31, and so 1881....... 114,511,248 385.889.500 35.395.850 49,569,300
8,815
1882........ 116,307,271 246,769,410 18.555.850 26,571,260
9,336
remained till the close of the year.
1883
..................
97,049,909 284,768,100
Jan. 7.
“ 14.
5*2@6*2
6 @ 6*2
6 @ 6*2
6 @ 6*2
6 @ 0*2
6 ®6 *a
6 @ 6*2
6 @7
6 @7
6 @7
6 @8
6*2@8
6 @8
6 @7
6 @7
6 @7
5 *a@6*2
5*2@6
5*2@6
5*s@6
5*2@6
5 *2® 6*2
5*236*2
5*2@6*2
5*2@6*2
5*2@6*2
RAILROAD AND MISCELLANEOUS STOCKS.
The price for seats at the New York Stock Exchange
declined during the year 1887 just about one third, or from
$30,000 early in the year to $20,000 in December. Perhaps
this furnishes the best comment that can be made very briefly
upon the character of the business.
The particular events of the year are referred to below
under the respective months in which they occurred, but as
to the general course of the market it may be said that there
was no panic or sudden break except that of June 24, and
there was no period of real buoyancy, unless a single week in
November was entitled to be called such. The year opened
with depression, owing to the coal-handlers’ strike, soon fol
lowed by that of the freight-handlers in this city. The Inter
state Commerce bill and European war rumors also had an
1884
1885
1886
1887........
..................
96,154,971
..................
92,538,947
..................
100,802,050
84,914,616
17.046.150
6,986,500
499.955.200 14.905.150
2,826,900
660.659.400 15,261,200 14,678,053
587.237.500 12,793,500 20,394,411
347,127,330
7,110,400 15,306,800
9,513
10,127
13,223
26,691
Taking the course of the year by months, the principal
events bearing upon the stock market were as follows :
J a n u a r y .— At Cleveland, O., January 3, in Common Plea»
Court, a decision was rendered against the New York Chicago
Sc St. Louis Railway (Nickel Plate), declaring the first mort
gage void and the second mortgage valid. The Inter-State
Commerce Act passed the Senate on the 14th and the House
on the 20th, but remained unsigned in the President’s hands.
Richmond Terminal was active all the month, and the terms
of agreement between this company and the East Tennessee
Virginia & Georgia, giving control of the latter to the Rich
mond Terminal, were made public. An extensive strike
among coal-handlers in Jersey City began on the 8th, and the
longshoremen in New York struck on the 23d. The 146th call
for bonds was issued on the 22d, retiring $13,887,000 of y£e
12
THE
CHKONICLE,
r3 per cents on March 1. Rumors of war between France and
Germany were rife, and disturbed the foreign markets. The
Fitchburg Railroad purchased the Hoosac Tunnel of the State
■of Massachusetts and prepared to consolidate. A master’s re
port was rendered in favor of the Missouri Kansas & Texas
income mortgage bond-scrip holders on their claim for pay
ment in cash.
F e b r u a r y . —The Inter-State Commerce bill was signed by
the President on the 4th. The Bank of England rate was re
duced on the 3d from 5 to 4 per cent. _War talk from Europe
■was very loud until the German elections on the 21st, which
went favorably to Bismarck’s policy. Exchange rates were
high in the early part of the month, and a little gold was sent
»out, though due to special causes. The strike among Reading’s
•coal-handlers failed and the strike among longshoremen in
New York ended on the 11th. Among the principal railroad
•events of the month were the issue of Atchison circular
No. 59, for building new roads in Kansas, Colorado and Cali
fornia; the Nickel Plate Company’s proposed plan of settle
ment ; the Missouri Kansas & Texas settlement with scrip
liolders ; the Texas & Pacific adjustment with income bond
holders ; the Corbin purchase of Jersey Central stock, and the
new arrangement between Pacific Mail and the Panama Rail
road. The 147th call for bonds was issued on the 21st, retir
in g $10,007,750 3 per cents on April 1.
M a r c h .— Congress adjourned on the 4th without having
passed any law for disposing of the surplus revenue. The
Baltim ore & Ohio Railroad rumors were active— first that it
would be taken by Richmond Terminal and Mr. Sully, and
4;hen that other parties held an option for purchasing a controll
ing interest, afterwards known to be Henry S. Ives in the in
terest of Cin. H am . & Dayton.^ The Chicago & Atlantic and the
Pittsburg & Western reorganization plans were announced;
¡the Mexican National Loan was offered in New Y ork and
London; the W abash purchasing committee were put in posrsession of the lines west of the Mississippi; the period for de
positing securities under the Reading plan expired March 31,
rand a very large proportion of the stock and bonds had been
•deposited. The Indiana Bloomington & Western road was
«o ld in foreclosure March 28. The Bank of England reduced its
irate from 4 to 3J^ per cent on the 10th and made a further
.¡reduction to 3 per cent on the 24th.
A p r i l . —The Inter-State Commerce law went into effect
«on the 5th and the Commissiohers almost immediately sus
pended the long-and-short-haul clause for ninety days in the
«case of many prominent railroads. Among the notable rail
road events were the plan for the Norfolk & Western and
Louisville & Nashville connection; the increase of $1,200,000
an Western Union Telegraph stock; the increase of $10,000,000 proposed in Illinois Central stock to purchase its Iowa
leased lines and for other purposes; and the junction of the
Atchison, and Gulf Col. & Sante Fe lines in the Indian Terri
tory; the lease of Oregon Navigation to Oregon Short Line,
with a guarantee of interest and dividends by Union Pacific.
The Bank of England rate was twice reduced—from 3 to 2}4
o n the 14th and to 2 on the 28th.
M a y .—Fort Worth & Denver City was active, and fluctuated
widely, and St. Paul & Duluth was conspicuous for a sharp
advance. The Saturday half-holiday law went into effect oh
■the 21st and the Stock Exchange closed thereafter at 12
o ’clock each Saturday. Nickel Plate road sold in foreclosure
on the 19th. The Missouri Pacific Company issued $5,000,000
new stock for extensions. Default was made May 1 on Den
ver South Park & Pacific bonds; the sale of Boston Hoosac
Tunnel & Western was made to the Fitchburg R. R.; the pro
posed issue was announced of $4,000,000 preferred stock and
$2,500,000 bonds by Norfolk & Western to build the Clinch
Valley Division to connect with Louisville & Nashville. The
Bank of England rate remained at 2 per cent.
J u n e . —On the 14th the coffee speculation failed here and on
the 15th came the collapse of the Chicago wheat clique, fol
lowed by the sensational failure of the Fidelity Bank at Cin
cinnati. Money was very tight during the excitement and as
high as % and
per cent a day was paid on the 24th, when
the panic occurred led by Manhattan. The sale of 50,000
«hares of Manhattan stock by Cyrus W. Field to Jay Gould at
120 was announced afterward. St. Paul announced the issue
•of $10,000,000 new stock. The Western Union Telegraph Co.
resumed dividends and declared one per cent. The Inter-State
Commerce Commissioners decided that each railroad must in
terpret its own liability under the long-and-short-haul clause
of the law. Denver & Rio Grande declared its first dividend
upon its preferred stock. The plan for reorganization of the
Central Railroad of N. J. was brought out. The Bank of Eng
land rate remained at 2 per cent.
J u l y .—Depression ruled at ihe Stock Exchange. The Bal
timore & Ohio negotiations finally came to an end on the
SOth, when Mr. Garrett’s letter was made public, in which he
■declared all negotiations with Ives terminated. The specula
tion in cotton culminated without serious failures. Gold
began to come from Europe. The Bank of England rate re
mained at 2 per cent,
A u g u st . —On the 3d Secretary Fairchild issued his circular
offering to prepay interest on the 4 and 4% per cent bonds up
to Jan. 1, 1888, and also to purchase $26,000,000 of 4% per
cents on weekly offerings to the Government. Under this
arrangement a little more than $6,000,000 bonds were pur
chased during the month. On the 11th the failure of H. S.
Ives & Co. was announced and greeted with cheers at the
. Stock Board; the Cincinnati Hamilton & Dayton and other
railroads were involved, Later in the month Grovesteen &
[Y o l. x l s i
.
Pell failed, having been the negotiators o f the East & W e st
Alabama and Rome & Decatur railroad bonds. Gold was im
ported to the amount of some $5,700,000. New York City &
Northern Railroad was sold under foreclosure. On the 31st
the sale of the Baltimore & Ohio Express to the United States
Express Company was announced, and also the sale by the
Oregon Trans-Continental Company to a syndicate o f foreign
bankers of $6,000,000 securities, relieving the company of all
pressing obligations. The Bank of England raised its rate
from 2 to 3 per cent on the 4th.
S e p t e m b e r . — On the 2d of September announcement was
made of the syndicate of foreign and American bankers to
relieve Baltimore & Ohio from its floating debt of about
$10,000,000. Secretary Fairchild on the 21st issued a circular
offering to purchase 4s at 124 and 4 ^ 8 at 108J^ to the amount
c f $14,000,000. On the 1st the Bank of England advanced its
rate from 3 to 4 per cent, which was maintained up to the
close of the year. Gold came from abroad freely.
O ct o b er .— There was general depression in stocks early in
the month. The Secretary of the Treasury now made a new
arrangement in regard to the deposit of receipts from internal
revenue in National banks. The 4 per cent bonds were made
a security for deposits at 110, and the 4J^s at par, instead of 90
per cent, which had been the rule for all bonds before. U n
der this $52,199,917 had been thus loaned the banks up to Dec.
31st. The lowest point of stocks was generally touched on
the 14th and days following, after Mr. Depew’s St. Louis
interview. The Balt. & Ohio Telegraph lines were sold to W e s tern Union for $5,000,000 W . U . stock and an annual rental o f
$60,000 per year for 50 years. A settlement was made with
the Wharton-Barker holders of Reading 1st series 5s who had
opposed the reorganization. Baltimore & Ohio passed its
semi-annual dividend. On the 28th a receiver was appointed
for the Chesapeake & Ohio on the application of Mr. H untington. The Union Pacific and Northern Pacific companies
made an agreement for a joint lease of the Oregon Railway &
Navigation lines. The Northern Pacific asked the consent o f
its preferred stockholders to issue a $12,000,000 new 3d mort
gage. Rumors prevailed of the possible appointment of a
"receiver for Missouri Kansas & Texas, and Mr. Jay Gould
sailed for Europe on the 29th. Gold imports continued during
the first half of the month.
N o v e m b e r .— There was a much healthier tone to the stock
market. There was a cut by the Grank Trunk on dressed
beef rates from the W est.
The Pennsylvania Railroad
increased its semi-annual dividend from 2% to 3 per cent.
The Oregon Navigation negotiated 5 per cent bonds with
bankers «broad through Mr. Vil'ard. The Texas & Pacific and
Central Iowa roads were sold in foreclosure. Some $><,000,000
of the new 3d mortgage on the Northern Pacific was placed.
The U. S. Circuit Court entered orders for the discharge o f
the receivers of the Philadelphia & Reading, the Jersey Cen
tral and the Buffalo New Y ork & Philadelphia roads on Jan.
2, 1888.
D ec e m b e r .— Dulness ruled at the Stock Exchange. Money
was easier than expected, owing to the Government deposits
with banks. M. Grevy resigned as President of the French
Republic and M. Sadi-Carnot was chosen without disturbance.
Congress assembled on the 5th and President Cleveland’s
message was devoted exclusively to the question of surplus
revenue. Late in the month a strike by Philadelphia & Read
ing employes took place.
There were some rumors of war
abroad owing to the movement of troops in Russia toward
her western frontier.
RANGE OF PRICES IN
Opening.
Canada Southern...
Central New Jersey.
6312
56
4314
13714
Chic. Mil. & St. p ... 907s
Chic. & Northwest.. 115
Chic. R. I. & Pac .. 126
Chic. St. P.Minn.&O., 4878
il0 3 %
13714
16%
Do
1st pref. 8OI2
Lake Shore............. , 95%
Louisv. & N ashv...., 66%
Manhattan................ 15812
Michigan Central.... 93%
Mil. L. S. & W est..... 66I2
Mo. Kan & Texas . 3312
Missouri Pacific__ . 108 %.
Nash. Chat. & St. L.. 88
. 113%
. 34%
N. Y. & New E n g.... 55%
N. Y. Susq. & West.. 12%
. 2334
pref.. 5278
Do
. 27 %
Do
pref . 61%
Ohio ¿Mississippi. . 29%
. 104%
. 34
Pacific Mail.......... . 51%
Phila. & Reading. . 37
Rich. & WestPhTe . 43
Do
pre . 81
St. L. & San Fran. . 32
Do
pre . 65
St. Paul & Duluth . 58%
Do
pre . 108%
.• 44%
. 62
. 18%
. 35
Do
. 75%
'Highest.
1887.
Lowest.
49 July 30
64% May 19
86% April 10
55^8 Ju.ii» 3
28% Oct 14
43% April 12
123% Oct. 17
156 May 17
69% Oct. 17
95 May 18
104% Oct. 17
127% June 7
109 Nov. 1
140% May 17
34 Oct. 17
54% May 17
96% Sept. 21
106% Nov. 25
123% O ct 14
139% June 1
9% Oct. 17
17 Jan. 3
52 Sept. 21
82% Jan. 13
89 Oct. 14
98% June 30
54% Oct. 13
70% April 14
92% Dec. 13
161% April 20
80 Aug. 1
95% May 19
66% Jan. 6
94% May 18
16% Dec. 10
34% April 9
8434 Nov. 1
112 May 19
88% Jan. 3 - 68% Oct. 14
101% Oct. 14
114% May 19
24% Oct. 14
35% April 12
34% Oct. 17
66 Mar. 29
7% Sept 20
14 Feh. 14
13 Oct. 17
23% Jan. 3
34% Oct. 15
55% May 16
20 Oct. 12
34% July 18
41% Oct. 18
63% May 19
21 O ct 17
32% April 4
79% Oct. 13
105% May 19
16 O ct 13
35% April 7
32% Sept. 21
58% April 7
34
Feb. 1
71% Nov. 16
20% Sept. 21
53 Jan. 17
43
Sept. 20
87% Jan. 17
30 Jan. 27
4434 May 26
61% Feb. 2
84% May 26
55 Oct. 14
95 June 20
99 Aug. 2
11434 May 23
21% Sept. 19
54% Jan. 14
44 O ct 17
63% May 18
13% Feb. 1
22% May 6
23% Feb. 1
38% May 18
67% June 24
81% Nov. 17
Closing.
56%
75%
32%
130%
76
108
113
40%
103%
129%
10%
60%
94%
61%
96%
87
85
18%
89%
78
108%
28%
37%
9
16
43
22%
46%
24%
89%
21%
35%
65%
23%
54%
37
72%
62
100
28%
58%
15%
28%
77%
THE CHRONICLF,
J a n u a r y 7 , 18t 8 .]
M ERCANTILE
F A IL U R E S
IN
THE
UNITED
STATES
13
AND
CANADA
FOR
S IX
YE A R S.
FAILURES FOR 1887, 1886, 1885, 1884, 1883 AND 1882—PREPARED BY MESSRS. R. G. DUN & CO.
1887.
1886.
Numbe r
in Bus i- States and Ter- No.
. No.
ness ir
ritories.
Am
ount
0
F a il
/ Fail- A m ount oj
1887.
urei ' Liabilitiet • ures Liabilities.
Eastern.
$
14,26 6 Maine...........
16 2 1,811,77 3
8,43 LN. Hampshire
413
203,65<)
6,60 3 Vermont.......
4
236,08i3
CMassachu’t’ 8 371 4,106,14<)
48,70 a
5 [ B oston ...
271 4,848,61'7
7,30<3 Rhode Island
125 3,127,6652
16,92<) Connecticut .
11' 3,500,4s-!t
102,2352
Middle.
279,2b7
55 £
5 1€
12C
694
24C
2€
152
44
2,271
Southern.
150,492
138
57
145
78
195
107
93
140
193
503
90
£81
198
1.046,606
385,631
1,098,932
1,073,827
1,713,462
564,469
1,637,477
1,133,134
2,36:1,374
7,098,241
837,900
3,274,244
1,480,664
Tot. South’n 2,224 23,707,961
Western.
6 '»,870 f O hio............
i Cincinnati
37,786 Indiana..........
67,814 f Illinois.........
t Chicago ..
35,863 M ichigan.......
29,401 W isconsin___
29,686 Iowa..... ..........
26,197 Minnesota___
52,041 f Missouri___
\ St. Louis..
26,914 Kansas___. ...
17,158 Nebraska ___
398
118
212
308
320
189
152
302
269
140
55
289
196
17,223,831 1,197
37,861,897
77S
13,491,40()
83,689-
10,949,894
77,875,721
1,319,339
12,340,133
6,892,032
553,900
2,028,189
896,852
585 10.794,708
545 28,210,225
121
2,182,425
531 10,062,071
174
3,509,349
15
206,757
127
1,864,502
38
278,497
444
455
113
431
109
12
80
23
7,144,21';
21,212,30t
1,871,99g
5,655,815
4,005,887
79,40C
1,261,140
154,887
79,432
39,548
22,786
67,58619,215
3,598
13,500
3,077
2,592 112,856,060 2,136 57,108,534 1,667 41,385,652
248,742:
20c
7t
677
50fc
122
748
204
23
177
41
7,999,34]L
19,>i74,99(
949,64t
9,864,13"
2,991,96£
195,25(
3,777,804
212,694
35,368,988 2,498 15,865,84C
223
77
113
111
215
78
118
173
205
507
100
275
154
1,750,737
548,783
969,961
1,053,774
1,872,763
603,302
1.878.716
1,127,102
2,780,313
5,313,727
1,178,651
2,444,040
1,679,639
270
96
169
119
212
49
39
157
215
368
94
276
282
7C€
718
119
653
225
27
112
32
7,646,023
751,327
1,044,113
1,428.578
2,566,235
366,103
1,017,135
998,150
5,035,411
3,394,460
818,325
1,941,589
1,606,619
193
66
170
102
238
44
68
155
184
493
121
219
238
2,349 23,201,508 2,346 28,814,068
2,291
4,405,896
4,419,254
1,838,491
2,459,744
5,997,478
1,875,915
2,380,950
1,976,822
3,222,800
904,222
2,140,700
1,702,286
644,948
489
91
235
371
275
202
188
373
202
16i
69
297
135
4,279,101
2,562,457
2,739,089
3,923,672
4,263,684
2,269,007
1,940,167
1,932,313
2,205,740
994,897
847,035
1,059,736
844,723
588
91
293
372
312
238
169
370
190
182
71
285
141
5,570,728
2,095,680
2,435,528
3,510,241
2,348,612
2,018,315
1,259,006
2,354,757
1,539,093
928,006
1,790,100
1,377,177
819,854
552
112
304
374
329
303
170
412
220
191
85
97
220
392,733
2.415.254
605,560
1,241,621
877.065
3,412,571
670,534
1,453,311
3.001.254
5,408,916
4,365,375
1,149,164
2,063,265
1,654,861
134
55
154
93
213
34
55
151
177
320
84
154
220
1,448,815
407,053
1,357,806
1,151,666
2,180,839
297,677
650,710
2,658,722
3,335,678
3,057,865
596,723
1,667,727
974,326
9,710,039
2,995,832
5,775,113
5,714,951
6,946,986
3,786,041
4,252,470
2,435,653
4,510,101
997,041
5,849,456
508,954
1,400,396
9 9 4 ,2 8 i
Grand totals
973 *52,068,617
1,013
1 6 7 ,5 6 0 ,9 4 4
9,834
7,971,450 1,230 9,062,883
1,341
1 1 4 , 644 , 1 1 g
JO,qb8
5‘ l
31)
32'7
10'
9(
8f
137
45
134
93
138
17
85
197
178
204
95
131
164
2,235,299
389,458
931,822
908,542
1,930,563
167,320
1,188,276
2,335,957
3.162,948
li644,254
754,724
3,716,096
1,632,864
12,030»
6,791
8,585
5,794
11,215
2,508
7,364
7,187'
9,39917,246
6,593
19,352:
12,217”
20,998,123 126,281
536 10,485,273
79
1,765,575
270
3,426,182
328
3,188,733
277 13,203,279
275
4,347,095
173
2,867,432
420
2,249,651
116
1,129,882
155
885.669
71
2,252,262
161
726.670
100
350,700
288
2,686,817 j 59,433:
47
765,734
124
1,688,565
32,488
158
1,193,740 j 58,051.
103
2,239,586
189
1,456,870
31,787
97
1,106.942
24,414
194
1,415,773
28,217
70
355,990
14,088»
221
1,446,450
79
2,701,720 j 37,440267
1,510,967
14,713:
450,023
7,848:
113
54,872,983 2,961 46,878,403 L,950 19,019,175 303,485»
Tot. Western 2,948 33,969,509 3,091 29,842,615 3,302 28,047,097 3,369
Pac. <£•T e m t’s.
Indian Ter___
Oregon............ 129
647,200
127
717,900 162
738,100'
220
1.457.500
93
f California..
272 1,660.700
343
1,544,000 447 2,631,700
353
2,411,400 281
[ S. Francisco 183 L5,282,606
211
2,756,400 225 2,454,400
220 : 3.755.500 148
Colorado........
79
479,36s
82
698,520
62
765.182
139
2,259,385 182
STevada..........
14
45,800
12
134.800
25
«28,500
23
196,800
35
Jtah.............
39
213,557
9
20,3i»7
2z
308,910
36
201,921
51
^ew Mexico..
17
253,199
12
373,400
20
361,100
25
189,808
31
¿Vyoming.......
11 1,367,400
11
44,100
2
6
39,700
72,500 ,
5
16
165,700
7
9,800
20
112,736
8
74,000
18
Dakota..........
114 1,151,850
100
765,973
88
404,890
117
729,642
90
Montana........
39
534,823
19
22
231.800
220,765
30
353,640
26
Vashington...
54
233,500
63
420,650 113
588,200
143
841,200
50
1,007 Arizona.........
6
33,000
17
253.800
19
108,700
25
528,700
36
1 0 2 iUaska...............
Tot. Pac. &T.
$
942,01'1 12,704
395,04 5
7,639
147,34 3
6,607"
2,888,16 y } 41,6606,064,45'
2,155,411)
5,66814,411
898,96:
6
2S,318,557 1,844 19,785,607 1,618
516
6,167
26,522
8,216
1.370
2^675
1,943
919
2,449
11.073
2,737
3,861
69,557
1882.
5,694,088
16,571,66*^1
622,218
5,523,064
2,869,017
176,500
3,631,971
280,463
95
135
Total Middle 2,345 69,980,438
Numberin B usiness in
18.259,558 1,261 12,430,43:i\ 1.37E
281
621
528
111
617
205
25
129
35
$
231L
875,26'
9(3
572,075
4gi\
683,70'
39(
4,010,791
30t
6,332,32t
13€
3,285,26£
16t
1,464,39€
A m ount Ojf
Liabilities
$
2,253,11(
418,79£
5,724,26;
4,560,83;
20,908,856
3,251,792
744,242
4
34]
1,11(
$
1,050,181
563,392
44
256,558
36C 3,223,707
271 4,373,518
12€ 1,248,591
17t 1,714,486
1882.
22:
7
4f
391
23£
10£
118
4i
8,273,224
4o,841,50(
1,722,971
7,056,08;
8,252,10£
495,21t
3,050,461
288,865
15,450 V irgina..........
8,513 West Virginia.
9,755 No. Carolina..
6,973 So. Carolina..
11,265 Georgia..........
4,991 F lorida..........
9,587 Alabama.........
8,683 Mississippi__
11,341 Louisiana . . . .
19,034 Texas.............
9,817 Arkansas .......
22,153 Kentucky.......
12,875 Tennessee___
$
3,225,275)
429,715
543,49'L
2,109,805
9,319,04(
725,54'
1,906,684
16'7
Tot. Easterx 1,144 17,834,415
88,24* : New Y o r k ...
52,931 N.Y. & B’kn
29,841 1New Jersey..
58,48i Pennsylvania
25,084 Philadelphia
4,29' Delaware___
16,49° Maryland .. .
3,884 Dist. of Col...
1885.
1884.
1883.
)
No. ,
No.
4 j Fail.
XO.
No.
.
Amounto/\
Am ount 0 ) Fail f A m ount oj Fail
F ail
ures Liabilities J ureSt Liabilities ures Liabilities. ures
955,106
1,599,600
2,«32,300
1,986,664
310,200
305,220
544,324
13,300
173,300
1,075,780
315,000
546,837
582,100
272*
193.500
4,027"
1.552.000
}
20,007"
2.195.000
1,260,191
7,825182,200
1,471
274,071
2,357"
135.500
1,377
584,
12,500
937
194,952
6,744
71,000
1,638
128,300
1,847
454,000
952:
’ sé
237
138
169
29
15
12
" 5
33
7
20
31
21
13,071,996 1,046 11,239,731
731
17 2 , 8 7 4 ,17 2
6,738
101347364
822 , 2 3 6 ,
74,266jj)om. of Can.. 1,382 16,'111,745 1,252 10,386,884 1,266 8,861,6091 1,327 19,191,306 1,384
15,949,36l| 787
8,587,657
61,133»
9 ,6 3 4
COURSE
OF
PRICES
OF
ro,6j y
12 4 ,2 2 0 3 2 1 ]
GOVERNMENT
2 2 6 3 4 3 ,4 2 7
SECURITIES
9,^4
FOR
THE
YEAR
6,653,214
50,059»
1887.
[Compiled from sales made at the New York Stock: Exchange.]
Coupon Bonds.
Registered Bonds.
Coupon Bonds.
4 « s ,1891 4s, 1907, 6s, cur’cj [6s, cur’cy
1809.
1898.
128«
128«
128«
123«
134«
134«
134«
134«
137«
I??«
137«
137«
Opening..............................................
H ighest.........................................
Lowest.....................................
Closing..........................................
128
129«
128
129«
135
135
135
135
136«
136«
136«
136«
Opening...................... ..............
Highest.......................................
Lowest..............................................
Closing.................................................
110
110«
110
110«
128«
129«
128«
129«
134«
134«
134«
134«
137«
137«
137«
137«
Opening.................................................
Highest.................................................
Lowest..................................................
Closing........................ ..........................
110«
110«
110«
110«
129
129«
128«
129«
137«
137«
137«
137«
Opening.................................................
Highest............................................. .
Lowest..............................................
Closing...................................................
x 109«
109«
109«
109«
129«
129«
129
129«
February.
110
March.
x 109
109«
.
108«
109«
April.
May.
June.
x 132«
132«
182«
132«
Opening................................. ..........
H ighest................................
Lowest ..................................... ....
Closing.......................................
August.
^
September.
_
October.
November.
December.
Opening.................................................
H ighest.................................................
Lowest.............................................. .
C losin g........................... ...................
109«
109«
108«
109
x 128«
128«
127«
127«
132
132
131
131
108«
110«
108
108
127
128«
125«
125«
128
128
128
128
X 108«
108«
108
108«
125«
125«
124«
124«
108«
108«
108«
108«
X 124«
126«
124«
126«
109
109
108«
108«
126«
126«
126«
126«
107
108«
107
108«
125«
126«
124«
126«
.: .: .: :•
110«
110«
182«
132«
132«
132«
: ;: .r.»:.
•
O pening.
H ighest I,
L ow est...
C losin g...,
.
July.
x 127«
138«
126«
128«
127
127
127
127
.: .: . : . :
O pening.
H ig h est.
L ow est.. C losing...
110«
110«
10954
.: .: . : . :
O pening.
H ighest .
L ow est..
C losin g..
.
.
.
*; *: •: * * «g S®w» os
«
r r r r .
Opening .
H igh est.
L ow est..,
C losin g..
!
Opening
Highest ,
L ow est.,
Closing .,
January.
1
Opening
H ighest.
L ow est..
C losin g.
Registered Bonds.
4 «s, 1891 4s, 1907. 6s, cur’c j ¡6s, cur’cy*
1898.
1899.
IB*
[V ol. XL\ I.
THE CHRONICLE.
14
COURSE
OF PRICES OF STATE
SECURITIES DU RING
THE Y E A R
1887.
[C om piled from prices bid at the N ew Y ork Stock E xch an ge on each F rid ay.]
JAN U ARY F e b r ’ r y . M a r c h .
A p r il .
MAY .
JUNE.
JU LY .
De c ’b e r .
A u g u s t . Se p t ’ b e r . Oc t o b e r . NOV’BER. C
S E C U R IT IE S .
L ow .H ig h
L o w .H ig h L ow . H ig h L ow . H igh L o w .H ig h L o w .H ig h L o w .H ig h ! L o w .H ig h L,ow. H ig h j CiOw . H igh h o w . H ig h L o w .H ig h T
105*4-106 1
102 -104
-108*4
105
-106
103*4-103*4!
104%-105*4
108%-108*4
-108
108*4-108%
I108
107*4-108*4
108*4-108%
Alabama—Cl. A , 3 to 5,1906.1105 -107
105 -106 |l
105 -106
L05 -105 1L02 -104
L04 -106*4 107 -107 1L00 -104
Class A , small.....................102 -105 105 -107 107 -107 107 -107 HO
-110
L04 -104
L03 -104
L04*4-106
L06 -108 1
-112*4 112 -112*4! L09 -110
Class B, 5s, 1906............. 107 -109 109 -113 113 -114 112*4-113*4 103*4-103*4
-102
L00 -103 1
LOO -103*4 98 - 98
100 -100
100 -101
L03 -104
•.Class C, 4s, 1906............... 103 -103 103*4-104*4 104% -105 i04% -104% ! 104 -105 103
-102
L02
-105
1
102
100
-102
L02
-106
L02
-104
-105
6s, 10-20,1900..................... 103 -104 105 -105 104 -105 104 -105
1 0 -1 0
.
10 - 10*4 10 - 10
10 - 10
10 - 11
10*4- 11
10*4- H
10 - 11
Arkansas—6s, fcl., 1899-1900 10 - 10%> 10 - 101ft 10 - 10*4 25
20 - 25
2 7 -3 5
20 - 26
20 - 22
18 - 20
2 9 -2 9
- 84%
2 5 -2 5
2 5 -2 8
7s, L. R. & Ft. S. issue...... 24 - 27
2 2 -2 5
#5 - 25
20 - 20
20 - 20
85 -2 7
22*421 - 25
■7s, Memphis & L ittle Rock 20 -2 1
17 - 18
20 - 22
18 -2 0
25 - 28
22 - 26
2 0 -2 2
25 - 31*4 3C - 30
2 5 -8 4
2 2 -2 4
22 - 25
7s,L. R. P. B. & N . O ....... 2 0 -2 6
18 - 18
25 - 28
20 - 22
25 - 25
20 - 22
18 - 20
30 - 30
25 - 33
2 5 -3 4
22 - 25
22 - 25
7s, Miss. O. & R. R ........... 25 - 26
11 - 11
11 - 11
10U 10 ^ 10 - 12
9 -1 1
7
716
7s, Ark. Central R R .......... 7 - 8*4
-105
106 -107
105 -105 104 -1Ó4 |i
107 -108% 108 -108
Georgia—7s, gold bonds, ’90. 109 -109
100 -100 100 -102 100 -100 1]
100 -100
LÔÜ -100
93 - 95
95 -100 100 -100 100 -100 iò'o -ìó ó
Louisiana—7s, consol., 1914. 93 - 94
90*491*4
85
84*486
87%
90*4
84*485%
83
88%
!
89*492
1
87%
88*4
84%
89
91
Stamped, 4s....................... 79%- 80%
87 - 88 1
82 - 86
82 - 82*4 8 1 - 8 3
8 5 -8 9
85 - 87% 87% - 88
85 - 89
80 - 82
82 - 87
7s, small bonds
.............. .... 106 -107
106 -106
108 -106 106 -109 105 -105 11
-107 107 -107
Michigan—7s. 1890............... 108 -108 108 -108 108 -108 107 -108 107
101 -101*41
-102*4 102*4-102*4 100 -100 100 -100*4 100*4-101 100%-101
Missouri—6s, 1887............. 100 -100*4 100*4-100% 101 -101 102 102 102
103%-103*4 103%-103*4 103*4-103*4 100 -100*4 100 -100*4 100*4-101 101 -101% 101 -101*4 1
6s, 1888........................
100 -101 101*4-102
104 -104
104 -105 1
-104*4
106*4-107*5 106 -106*4 106*4-106*4 104 -104 104 -104
6s, 1889-1890...................... 106 -107 106*4-107*4
-110
109 -110 109 -109 108 -109 ]
112 -112 109 -110 n o -110
Asylum or Univ., 1892...... 112 -112 112 -112 112 -112 112 -112 112 -112 115
-110
112
-112
112
-112
112
-112
110
-112
110
-111
-115
115
-115
115
-115
115
-115
115
-115
Funding bonds, 1894-95... 115 -115
Hannibal & St. Jo., 1887... 100 -101 100*4-101
101%-102*4 101*4-102 100*4-103 100 -101 100 -100*4 100*4-100*4 101*4-101*4 101 -103
New Xork—6s, gold, reg., ’87 100*4-101*4 101 -10114
101*4-102*4 101*4-102 103 -103 100 -101 100 -100*4 100*4-100*4 101%-101*4 l o i -103 :
6s, gold coupon, 1887!...... 100*4-101*4 101 -1011
112 -112 110 -112 112 -112 112 -112 112 -112 112 -113 :
6s, loan, 1891.....................112 -112 112 -112 1112 -112 112 -112 112 -112
-115 115 -115 112 -115 115 -115 115 -115 112 -114 115 -115 :
6s, loan, 1892 ............. .. 115 -115 115 -115 115 -115 115 -115 115
118 -118 118 -118 115 -115
118 -118 :
118 -118 115 -118
118
-118
118
-118
118
-118
118
-118
6s, loan, 1893 ..................... 118 -118
3 5 -3 5
3 5 -3 5
35 - 35
85 - 35
3 5 -3 5
85 - 35
35 - 35
35-3 5
3 5 -8 5
35 - 35 I 3 5 - 8 5
NO. Carolina—6s, old, ’86-’98 35 - 35
3 5 -3 5
85 - 35
8 5 -8 5
.35 - 35
3 5 -8 5
3 5 -3 5
3 5 -3 5
35 - 35
35 - 35
35-3 5
85 - 35
6s. old, A.& O ............... 35 - 35
. . - . . 170 -170 :
170 -170 170 -170
170 -170 170 -170
N.Car. RR., 1883-4-5......... 170 -170 170 -170 170 -170 170 -170 170 -170 140
.. 140 -140 140 -140 140 -140
140
-145
-140
140
-140
140
-140
140
-140
140
-140
N.Car. RR., 7, coupons ofl 140 -140
.. - ..
170 -170
170 -170 170 -170
170 -170 170 -170 170 -170 170 -170 170 -170 170 -170
N.Car. RR., A. & O ..........170 -170
140 -145 :
.. - ..
-140 140 -140
140 -140 140 -140
N. Car. RR., 7, coupons off 140 -140 140 -140 140 -140 140 -140 140 -140 140
10 - 10
12
12
10 - 10
10
10
10
10
10
12
12*4
12
12
12*4
12
12
12-12
12
12
Funding act. 1866-1900 .... 12 - 12
10 - 10
10 - 10
10 - 12
10 - 10
10 - 10
12 - 12*4 12 - 12
12 - 12 12 - 12*4 12 - 12*4 22
12 - 12
Funding act, 1868-1898 .... 12 - 12
12 - 20
20 - 22
15 - 15
20 - 20
15 - 15
15 - 15
22-22 22 - 22 22 - 22 22 -- 22
22 - 22
New bonds, J. & J., 1892-98 22 - 22
12 - 20
20 - 22
15 - 15
22
15 - 15
15 - 15
20 - 20
22-22 22-22 2 2 - 2 2 229 - -1 22
New bonds, A . & O ........... 22 -2 2
8 - 8
9 -1 0
8 -1 0
10 - 10
8 - 9
7 - 7
0
7 - 8*4
10 - 15
10 - 10
10 - 10
• Chatham R R ................ ... 10 - 10
8 -1 2
14
15
10
10*4
- 16*4
12 - 15
11 - 12*4 10 - 12
12. - 13% 12*4- 18 13 - 15*4 12*4- 14 14
Special tax, class 1, 1898-9 llj-g—13
14 - 16*4 14 - 15
12 - 14*4 11 - 11 . . . . - . . . . 10 - 10
13 - 14%; 12*4- 14
Special tax, class 2................... - ....
"8
14 - 15
13*416*4
12
11
11
10
10*4
10
1
0
*
4
12*414
14*4
.
13
13*4
Railroad issues..................
9 6 -9 7
94 - 96*4
9o - 98
.. - ..
95 - 96
.. - ..
98 - 98
98*4- 97
. 9 8 -9 8
Consol., 4s, 1910 ..... .... 100 - 100*4 100 -100
93 - 95
95 - 95
95-9 5
95 - 95
95
95 - 95
97 - 97
95 - 95
Small bonds.... ............... 9 6 - 9 8
L17 -120
120 -123 121 -121*4 122 -123 122 -123 Ì20*4-12Ó*4 118 -118
6s, 1919.................. .......... 124 -124k 125 -125*4185*4-125%i 123 -123*4 128*4-123*4
L15 -115
115 -116 116 -116 115 -115 115 -116 115 -115
116 -116 116 -116 116 -116
"~
Rhode Island—6s. cp., ’93-94 120 -120 115 -116
22%
_?%- J.
i»“
South Carolina—6s, act Mar.
6% - 7%
23,1869,non-fund., 1888... 6% - 6% 6 - 6 % 6*4- 7
Brown consol., 6s, 1893.... 107 -107 107 -109*4 109*4-109*4 109*4-109*4
64 - 65
64*1- 65
Tennessee—6s, old, 1890-2-8 65 - 65*4 65 - 65
64 - 65
64*4- 65
6s, new bds., 1892-’C8-1900. 65 - 65*| 65 - 65
6 4 -6 5
64*4- 65
6s, new series. 1914........... 65 - 65*4 6 5 - 6 5
74 - 75
Compromise 8-4-5-6s, 1912 75 - 75*4 75 - 76% 74 - 76
4 104 -106*4
New Settlement, 6s, 1913. 105 -105 105 -106*4 106
New Settlement, 5s, 1913. 100 -102 101 - 102*4 102*4-103 102 -103
New Settlement, 3s, 1918. 78 - 78% 78 - 78% 78 - 78*4 77 - 78
4 8 -4 8
4 8 -4 8 * 4 8 -4 8
Virginia—6s, o ld .................. 47 - 48
4 8 -4 8
4 8 -4 8
4 8 -4 8
6s, new bonds, 1866.......... 47 - 48
4 8 -4 8
4 8 -4 8
48 - 48
6s, new bonds, 1867.......... 47 - 48
90 - 90
9 0 -9 0
90 - 90
6s, consol, bonds............... 95 - 95
52 - 52
52 - 52
6s, ex-m atured coupons.. 5 2 - 5 3
6s, consol., 2d series......... 65 - 65 ‘ 65 - 65 ' 65 - 65 1 65 - 65
10*4- 11
11 - 12
12 - 13
6s, deferred bonds............ 12 - 15
12%- 135>4 1 2 - 1 3
12 - 16
Trust receipts, 6s ............. 12% - 15
Dis. o f Columbia—8'65s,19241121 -121 120 -120 120 -121 120 -120%
>4 107 -107%
Funding5s, 1899............... 107 -107 107 -109 107
6 - .7
108*4-109*4
62*4- 64
62*4- 64
62*1- 64
72 - 74
103 -104
102 -103
75 - 77
48 -4 8
48 - 48
48 - 48
90 - 90
52 - 52
65 - 65
10 - 10
11 - 12
120*4-1219)
107 -107
5*4- 6
104 -105*4
60 - 62
60 - 62
60 - 6 4
70 - 71
102 -103
100 -102
72 - 74
48 - 43
48 - 48
4 8 -4 8
90 - 90
46 - 46
60 - 60
60 - 65
10 - 10
10 - 10
10 - 10% 10 - 10%
121*4-122 121 -121%
107 -107 106 -106
6 -6 * 4
108 -108%
62*4- 68%
62*4- 63%
62*4- 63%
72%,- 74
104*4-106*4
102 -103
74 - 76%
4 8 -4 8
48 - 48
48 - 48
90 - 90
6
105
59
59
59
70
102
100
70
48
48
48
90
45
60
10
10
120
- 6
-105
- 60
- 60
- 60
- 70
-102%
-100
- 70%
- 48
- 48
- 48
- 90
- 48%
- 60
- 10%
- 10%
-120
- ...
5 - 6
104 -105
5 6 -5 9
56 - 59
56 - 59
, - .
101 -102
100 -100
68 - 69
47 - 48
47 - 48
4 7 -4 8
90 - 90
45 - 45
60 - 60
5 -5 * 4
105 -106
57 - 58
57 - 58
57 - 58
67 - 67
101 -103
100 -100
69*4- 69%
48 - 48
4 8 -4 8
48 - 48
90 - 90
45 - 45
60 - 60
8 - 8
8 - 8%
8% - 8%
117 -117 117 -117
105 -105 . . . . - . ..
COURSE OF PRICES OF R A ILR O A D BONDS FOR THE Y E A R
5 -5 * 4
5 % - 5%
106 -107 106 -108
59 - 60
59 - 60
59 - 60
59 - 59
59 - 60
59 - 59
63 - 70
6 9 -7 0
100 -100 100 -102
100 -100
70 - 72*4 71 - 72%
48 - 48
48 - 43
4 8 -4 8
48 - 48
4 8 -4 8
4 8 -4 8
7 5 -9 0
9 0 -9 0
41 - 42
45 - 48
60 - 60
60 - 60
7-7
8 - 8
8*4- 9*4
9 - A i 115*4-116*4
117 -117*4
105 -105 104 -105
1887.
[C om piled from all sales at the N ew Y ork S tock E xch an ge.]
MARCH.
BONDS.
L ow .H ig h
M AY.
Ju n e .
JU L Y .
A ugu st.
NOV’BER.
L o w .H ig h L ow . H igh L o w .H ig h L o w .H ig h L ow . H igh L o w . H igh L o w .H ig h L o w .H ig h L o w .H ig h L o w .H ig h
82 -
81% - 83
82*4- 83*4
4- 83
87 - 88
86 - 88*4 82*4- mi 82 - 84
85% - 87*4 85*4- 87*4 86*4- 88
i- 90
Atlantic & Pac.—1st...4
Ì- 90*4
West. Div.—1st.... ...6
25%- 26%
25% - 29
23*428
26
32*4
24*430%
30 - 35%
33*4- 38!
29 - 34*4 33% - 38
- 29% 25*4- 28*4 25% - 30
Income...................... 6
25*4- 25*4
22*4- 22*4 33 - 33 I 35 - 35
Central Div.—Inc— 6
Balt. & O.—1st, P.Br .0 126 -126% 126*4-127 125 -125 122 -123*4 123 -125% 125% -125% 125%-126% 125 -125*4 119*4-125
-106 106 -106% 105 -108*4
Cold, 1925, coup......5 110*4-111*4 109 -111*4 110 -112*4 109*4-110% 110 -112 110%-112% 112*4-113 109%-110*4 105% -109%
- 78
80 - 80
81 - 81
. . . - ....'_ 8 4 - 8 7
Beech Creek.—1st, g..4
9 8 -9 8
96
- 95
86
96*4
99 - 99% ' 99% - 99%
98*4- 99
92% - 93*4 95 -100
Bost.H .T. &Wes.deb.5 90 - 92
105 -105 104 -106 105%-106
B’klynEl.—1 st,19 24..6
8 3 -8 3
82 - 83
2d mort„ 19 15 — 3-5
-109 107*4-109 108*4-110 ,107 -103 108 -110 109 -110 108 -108*4 107 -108 106*4-107% 104%-105*4
Bur.C. R .& N o .—1st..5 106%-107*4 107% -109
99*4- 99*4
-101*4 100*4-100*4 101 -101 100 - 100% 99*4-100
Cons. 1st & col. tr.. .5 101*4-103*4 102 -102
106 -106 105 -1Ö5 106 -107
C .R a p .I.F .& N .-lst,6
100 -101
lstm o rt,, 1 9 21 ....5
40 - 40
3 8 -4 2
40 - 40
- 46% / 42
41 - 45
B .N .Y .& P . - l st, 1921.6
107 -107*4
Carolina Cept.—1st. ■•.6
81 *80*4- 82 *82 - 82
!89 - 90% *87%- 90% *80 - 85
90 - 90*4 ’*91 - 92 *91 - 94
Central Iowa—1 s t ..— 7 *89 - 90*4
71*4- 72
67*4- 71*4 72 - 73
Eastern Div.—1st ....6
9 9 - 100
99 - 99*4
98 -101
100
-100%
Cent. R R . & B., Ga.. 5
104*4-104% 105 -105% 105%-105*4 106 -108 106%-107*4
Cent.oiN.J.-1 s t ,1 8 9 0 7 108% -110 105*4-107% 106*4-108% 107 -107 107 -108 108 -108*4
111 -113
Consol., assented .....7 107*4-110*4 109% -112 111*4-113*4 112*4-116 115%-117 115%-119 115 -117 112*4-115% 113 -114% 113 -117 112*4-115*4
110 -111% 111 -113% 112*4-116*4 115%-117 115%-118% 115 -117 114 -115% 113*4-114 114% -115 113 -114 112 -114
C o n v . , assented. . . . . . . 7 109 -110
Adjustment................. 7 105%-107*4 105% -107 105*4-106 105%-107*4 107 -107*4 107 -108 107*4-108 108*4-108*4
87*4-100
99%-103*4 101 -105 102 -102 100 - 100*4 98 - 98 103 -103 109 -116
87 - 89
Conv. debenture....... 9 83*4- 86*4 85% - 89
96%- 98% 97%-100
97*4- »9X 97%- 99% 95 - 99
99*4-100
Interim bond cert... .5
99 - 99*4 97%-101
Gen. M., 1 9 8 7 .......... 5
Leh.& W .B .—Assent 7 110 - 110*4 113 -116 113 -114 112 -114 114 -115 112*4-115 114*4-116 112 -115 109 -111 109 -111 110 -111% 109*4-114
100 -100
98 - 98
95 - 95
95 - 95 100 -100
Income.......................7
102 -102 104*4-105 100 -104% 101*4-103 103*4-104
Am. Dock &> Imp....... 5 99 -102 100*4-103 102*4-103*4 102*4-103*4 104 -106*4,106 -106*4
107*4-111 I .... - ...
110 -110
..115 -115
113 -113 112 -114 113 -113
Ches. & O.—Pur.M.fd. .6
96 -100
104*4-104*4 103*4-106*4 100 - 100*4 90 - 96
Series A .......... - .......... 9 107*4-107*4 107*4-108 109 -109*4 106*4-106% 106%-107 ....
*66 - 68*4 *66*4- 68
*66
*73 - 75 *74 - 76 * 6 6 -7 5
Series B .......................6 *76% - 81 *77% - 78*4 *76 - 78 *75 - 77% m - 78 I*72
64*4- 70
62 - 66*4 64*4- 68
68 - 71% 64 - 71
68 - 70
72 - 73
68 - 73*4 68
Exten. coup., 1 9 8 6 ..4 73*4- 75% 73*4- 73*4 73 - 74
16 - 25%
15 - 17*4 14 - 16
15*4- 21
24*4- 25*4 22% - 24*4 20 - 22
27 - 28*4 27 - 27% 24*4- 27
Currency.......... .......... 6 29% - 82 27 - 29
8 8 -9 1
89
89*4
90%91%
93*495
94 - 95
97 - 99% 06*4- 98*4 96%- 97% 96*4- 96*4 .... - ••
Mart., 1 9 1 1 ................6 97% - 98% 98 -100
101
-105
104
-104
101
-101
Ches. O. & S. W ....... 5-6 103*4-105% 101- 102 108*4-106*4 105%-106*4 106%-107 107%-108% 107%-108
11894-114*4 114*4-114*4
Chic. & Alton—1 st.......7 115 -115*4 115 -116 116 -116*4 117 -117 116*4-116%
123*4-125
123*4-123*4
123 -123 123*4-123*4
Sinking fund.............. 6 124 -124 125 -125% 125*4-125*4 127*4-127*4 123 -123
117*4-117*4 118*4-119 119 -119
121%-122 122*4-122*4 122*4-122*4 122 - 122*4
E .& M o.R .lst,. 1 9 0 0 7 124 -121 120% -123
119 -119
117 -117 117*4-117*4
120 -120
116 -116*4 116 -117 116 -116
2d, 1 9 0 0 .,................7
112 -113*4 113*4-113*4 114*4-115*4
St.E.J. Clvuls t ,.’ 94.7 117 -118 118 -118 120 - 120*4 116*4-116*4
113%-11S% 113*4-113*4
117%-117%
ljst moi^t.jt. guar......7
[Hiss.Riv.Bd. 1st, s.f.6 HO -110
vtC'-—Coupon off.
January
THE CHRONICLE
7, 1&8.J
15
COURSE OF PRICES OF RAILROAD BONDS—C o n t in u e d .
BONDS.
Low-Higb
Chic. B n r.& Nor.—Ist.5jl04)6-105)6
Chic.B.ifc Q.—Consol.. .7 132)6-134)6
D ebenture................. 5 106 -10696
Io w a D iv ....................4
D enver D iv., 1 9 2 2 .-.4
N ebr’ sk a E xt., 1 9 2 7 .4 ... - ...
Chic. & E. III.—1st, s.f.6,1143^-110
1 st consol., s o ld ........6114 -116
C h ic.& In .C ’ lR y —ls t .s l 98)6-100
Chic. M ilw . <& St. P.— I
1st P. D., 1 8 9 8 ......... 8,183)6-134)6
2d, 1 8 9 8 ............ 7 3 -1 0 127 -127
1st, gold......................7,132 -132
1st L a Crosse D iv ....7,117*6-118)6
1st I. <fc M. D iv ......... 7,120)6-122)6
1st C. & M. D iv ........7,130 -130
Consol., 1 9 0 5 ........... 7,128 -130
1st I. & D. Ex ten......7,130)6-13096
1st So. W est D iv .......6 115)6-117
1st L a C. & D a v ........5 105)6-105)6
1st So. Minn. D iv ..... 6 115)6-116)6
1st H . «& D. D iv ........ 7,124 -127
1st H . & D . D iv ........5
Chic. & Pac. D iv ....... 6,119 -120)6
Chic. & Pac. W .D iv. .5
Chic. & M o. R . D iv ..5
M ineral Point.............5
Chic. & L . Sup. D iv .5
Wis.ife Min. D iv ........5
Term inal....*.............. 5
F argo & So.—Assu...6 116
In c. con v., S. F ......... 5
D a k o ta & Gt. So. ...5
Chic. & Northw est.—
Consol.. 1 9 1 5 ............ 7
Gold, coup................... 7
Gold, re g ......................7
Sinking iund, cou p... .6
Registered............... 6
inking fund, coup ...5
R e g istered ......!»'.......5
D ebenture...................5
R e g is te r e d ..............5
25 yrs, deben., 1909.5
Exten. bonds, 1 9 2 6 ..4
D es M.«fc M.—1st ....7
Escan.ife L .S up.—1st. 6
Io w a Midland—1st.. .8
P en in su lar 1st conv.7
Chic.& M il.—1st....... 7
W inona & St. P.—2d.7
M il. & M ad.—1 st......7
Ottum. C. F. & St. P.5
Northern Ills .—1 st..5
Chic.R.I.«& Pac.—Cp... 6
Registered..................6
Exten. & C o l............ 5
K eo k ’ k& D esM .—1st,5
Des M. & F t.D .—1st.4
1st, 1 9 0 5 ............... 2)6
E x ten sion ..................4
Chic.St. L .& P itts—1st. 5
Chic. St.P. Min.ifc Out.—
Consol., 1 9 3 0 ........... 6
Chic.St. P.ife M.—1st. .6
St. P. & S. City—1st. .6
Chic. & W .I.—ls t.s .f.... 6
Gen. m ort........ ...........6
Cin. J . & M .—1st con. 5
Cin. W .& B .—1st gu. .4)6
C in .& S .—G u .C .C .C .& I
G uar. Cake S h o re ... 7
Cl. C. C.& I . - l s t , s.id.7
C o n so l................ .....7
C on sol.S . F ..............7
General cons.............. 6
Col. Coal «& I .—1st,con.6
Consol. Coal—Conv__ 6
CoI.H.Val.ifc T .—1st.. .5
Gen. gold, 1 9 0 4 ........6
C ol. & C in . M id. 1 st...6
D el.& IIud.C .—1st,’ 91.7
Coupon, 1 8 9 4 ............. 7
R eg., 1 8 9 4 ................. 7
Penna. D iv.—Coup... .7
R egistered ...............7
A ik .& Susa.—1 s tm ..7
1 st co n ., gu a r..........7
1 st con. gu ar............6
1 st, con. guar., reg. 6
Rens. & Sar.—1 s t __ 7
Del. Lack.ifc W e s t .Convertible................ 7
M ort., 19 0 7
7
Syr.B ’ n & N .Y ., 1st..7
M orris & Essex—1st.7
2 d m ort..................... 7
1 9 0 0 ..........................7
7s, 1 8 7 1 -1 9 0 1 ...... .7
Consol., gu ar............7
N.Y. L . & W .—l s t ....6
Construction.... ....5
Denver & R io G.—1st.7
New con sol.....'..........4
183 -183)6
127 -12896
106)6-108
118)6-118)6
7796- 79
THE CHRONICLE.
16
[V
o l
.
XL'S I,
COURSE OF PRICES OF RAILROAD BONDS—C o n t i n u e d .
A u g u s t . S e p t ’ b e r . OCTOBER NOV’BER.
A p r il .
JANU ARY
D ec’b e r .
BONDS.
Low.High
Low. High Low. High Low. High Low. High Low. High Low .High Low. High Low. High Low. High Low. High Low. High
- 73
7
3
«74«
70
73
74
74«
70
71
81«- 82 8 0 -8 2
79 - 80« 7 9 «- 82
D e n v . d k R . G . W .—1 s t . . 6 80 - 81« 8 0 -8 1
- 69
64 - 68« 64 - 68« 66 - 69 «
6 7 «- 71
78 71 - 77 « 7 1 -7 3
76 - 779 7394- 7594 7 5 -7 8
A s s e n t e d . 1 s t ............... 6 76 - 78
7 4 «- 79
70 - 70
82
78 - 8694 7 8 -7 9
- 80 75 - 75 75 - 76« 68 - 75« 72
D e n v . S o . P . dk P .—1 s t . 9
D e t . M . & M a r a .—
85 - 47
29 - 39« 80 - 35 « 32 - 35« 3 0 -3 6
49 - 53« 45 - 51
4 9 «- 55« 51 - 55« 53 - 5594 5 3 -5 6
L a n d g r a n t s . 1 9 1 1 . 3 « SI - 53
10594-108« 108«-110 10694-107« 106«-108 106 -107 106«-107 107«-108« 107«-109
D e t . B . C . dfcAIp.—1 s t . .6 102 -103« 101 -104 104 -104 102 -10594
118«-11S«
120 -120
122 -1 2 3 « 123 -123« 123 -123 123 -123 117«-11?«
£ . T e n n . V . & G . - l s t . . 9 121 -122
D i v i s i o n a l . . .................... 5 107«-1 0 7 «
95 - 95 «
95 - 97« 9 4 «- 97
9 1 «- 97
9 6 «- 98
94- 99« 98 - 99« 9 7 «- 99
9 8 «- 99« 99 -10194
E . T . V . dk G a . B y , c o n 5 9896* 99?4
5 0 -5 0
99 -101 107 -110 107«-108« 108 -108« 109 -109«
E a s t dk W . A l a . —1 s t . . 6 1009é-1009é
9
6
«97
«
« - 97
95 - 96 « 9 5 «- 99
103 -104 102 -10394 100 -101 99 -100
E l i z . L e x . dfc B i g . S . . . . 9 105 -IOS 107 -107« 104 -104« 103«-104
120 -122 119 -119 118 -118
E r i e —1 s t , E x t e n d e d — 7 122 -122
111 -111 112 -112
117«-117« 111 -112
116«-116« 116«-116«
2 d , E x t .............................. >5 114 -115 117 -117 112«-112« 112«-115
104 -104« 104«-104«| 105 -105
108 -109 109 -109
109«-109« 105 -106
3 d E x t ................... . . . . 4 «
116 -116 .... - ... 110 -110
116«-116« 118«-11894
4 t h , E x t . , ................... '. . . . 5 114 -114*6 115 -115 114 -116 115 -117 115 -115
106 -106 102 -102 102« - 102« 102«-10294 102«-108 tt>8«-108« 103«-104
5 t h , 1 8 8 8 ......................... 9 105 -105« 105«-105« 104«-104« 104«-105
130 -132« ¡133 -135 133 -136
129
-130«
134
-134«
135 -137
1 s t , c o n s o l., g o l d .........9 18414-146 185«-186 182«-134« 133 -135« 134 -136
130 -130 131 -131
131«-131« 134 -134
180«-130«
1 s t c o n s o l, f d . c o n p .. .7
105 -105
R e o r g a n ., 1 s t l i e n . . . 6
110 -110
118«-114 112«-115 112 -112
11294-114
L o n g D o c k .................. . . 7 11S«-114 114 -114 115 -115 114«-115 115 -115
115 -115
118 -118«
118 -119
C o n s , g o l d .................... 6 115 -118 117«-118 119 -120 117 -117« 118 -118 118«-11894
135«-135«
137
-137
135
-186
136«-136« 137 -137 136 -138
18694-137« 13694-13694
B u ff . N . Y . & E . —l s t . 9
N . Y . L . E.dfc W . 98«-100« 100 - 102 « 102«-104« 98*6-101« 9 7 «- 99« 96«-100
9394-100
N c w , 2 d c o n s o l.........6 9594-100
108 -108 108 -108
105 -105
C o l. t r u s t , 1 9 2 2 ......61107 -10'
9 0 «- 90« 87 - 87
94 - 95« 92 - 92
90 - 9294
F u n d , c o u p ., 1 9 6 9 . 5 9 0 « - 9 2 «
115 -115
E r i e dk P i t t s b .—C o n .. .7
112 -112 110 - 112«
108 -108
E v .d k I n d ’ p ,c o n .,1 9 2 6 . 6
-119 119 -121 120 -121 116 -117
E v . & T . H a u t e —C o n ..6 116 -118*4 118 -118 118 -118
115 -116 115 -115 115«-115«
-115
M t . V e r n o n —1 s t .........6 HO -111 111 -111 111 111
119 -119
F li n t dk P . M .—M o r t . . . 6 121«-122 ¡123 -123
8 4 «- 89
- 95 « 9 4 «- 98« 8994- 94« 86« - 92
F t .W .d k D e n v .C .—1 s t .6 88« - 9094 8^94- 90« 8994- 93«
78 - 78
71 - 71
7 9 -8 0
- 79
G n l .H .d k H . o l ’ 8 2 ..... 5
108«-108«
106 -106 109«-109« 108«-108«
G a l . H . & S a n A . —1 s t .. 6
110 -110 105 -108
2 d m o r t ............................ 7 110«-lll
9394-193« 9 3 «- 93«
9 3 «- 94
W e s t e r n D i v —1 s t . . . . .5 99«-100« 9 7 «- 99« 97 - 9794 9694- 98
2 d ......... .............................« 9 2 «- 92« 9 2 «- 92«
119 -119
G r . R a p .d f c I n d ., l s t l . g .7
9 0 «- 90« 90 - 92« 9 2 «- 95 95 - 95« 9 5 «- 96« 9 7 «- 97« 98 - 99
G e n e r a l . . . ......................5
99 -105 105 -107« 106 -109 108 -108 106«-107
99 - 99
G r . B .W .d k S t . P . - l s t . .6 99 -103
49 - 53 44 - 50« 37 - 46 « 8 3 «- 40 «
38 - 40 « 3 8 «- 40 « 4 0 «- 4294 41«- 50
2 d , in c o m e ...................... 8
121«-122 121*4-125 124«-125« 121 - 122« 118 - 121«
G u l l C o l. dfc S . F . —1 s t . .7 12094- 122« 121 -122 1 2 1 «-122
102«-106« 103 -10694 102 -103« 100 ¡ - 102«
2 d , 1 9 2 3 ...........................6 101«-103 102«-104 104 -105 102«-103
123«-123« 11994-120 119 -120 119 -121 121 -121 119 -119 120«-121
H a n . dfc S t . J o .—C o n s . 6 m « -i2 3
.... - ^ ... 108«-108« 108«-110
109«-109«
H e n . B r id g e C o .—1 s t . . . 6 108«-10994 109«-110 106«-107 108 -108
68 - 69« .... - .... 6 8 - 6 8
68 - 68
6 9 -6 9
H o u s . E . dfc W . T . —l s t . 7 6 8 - 6 8
! 113 -114« *114«-1494 114«-17« 116 -11994 117 -118« 116 -118 113«-117*4
H o n s . d k T . C . - l s t ,M .L .9 *
108 -110 *108 -108« *109 -110 *108«- 110 111 -119« 115 -116 113¿-1 1 4 « 112«-115«
1 s t , W e s t e r n D i v ....... 7
115 -115 *116 -118 11594 11994
*113-113
W . dfc N . D i v ..................7
99*4-102« 10294-105 105 -112 109 -109« 110 -110 104 -106«
95 - 97« 941-100
2 d , M a i n L i n e . ...........8
70 - 71
72 - 7994 72 - 74« 71 «- 72
66« - 69« 6 7 «- 72« 70 - 73
69 - 72
G e n e r a l m o r t .............. 6
94 - 95«
98 - 98« 9794- 0794 65 - 98 9 5 «- 97« 95; - 96
I l l . C e n t . - G l d . , 1 9 5 1 , 3 « 98 - 99« 9 8 -9 8
ioe -106
1 s t g o ld , 1 9 5 1 ........... 4 108 -108« 107 -108 107 -108 Í0794-108 107 -107«
S p r i n g ! .,D i v ., 1 8 9 8 . . 6 116«-116« 1 I6 «-U 6 « 117 -117« li7 -11794 117«-111«!....
M i d d le D i v . , 1 9 2 1 . . . 5
120 -120
C .S t .L .d f c N .O .—l s t , c . 7 121; -122
116 -116« 116«-116«
G u a r a n t e e d , , ......... 5 115 -116 115 -116« U 5 « -llö « 116«-117 117«-U 8 116«-116«
104 -105
107 -107 105 -109 107 -112 109 -109
C e d a rF .d fcM •• 1 s t . . . 7 109 -110
128 i -123
I n d . B i.d k W . —1 s t ,p r e l 7 119«-120 124«-124« 121 -123 120 -120 122 -122 123«-123«
«
98«-101« 96 - 9 8 «
97 - 99« 94 ... - ...,|103«-104 104 -104
8 4 «- 84« ¡ 8 4 «- 89« 8 7 «- 89
112 -112
«
1129411
92 - 96«
- 90
78 - 88
117 -118
117 -120
117 -117
« - 84
119 -119
80 - 85
117 -U7*á
100 -106
119 rll9
76 - 8 0 «
1 0 9 « -1 0 9 « 102 -107
9 2 «- 9 2 «
9 3 «- 93 « 9 1 «- 95«
111 -112
-100
99 - 99
31 - 37«
120 - 121«
97 - 97«
117«-118
1(8 -108«
6Í -61
118«-116
112 -118«
114 -114
100 -103
55 - 60
9 2 -9 3
105«-105«
100
65
94
109
96 - 96« 9 6 «- 96«
97 - 97
30 39« 28 - 37
118«-121 120M-122
97 -101
100 -103
115«-118 115«-118
107«-107« 107 -107«
112 -115
112 -113
98 - 99
6 1 «- 65
113«-115
-107
- 72
- 95
-109
9 9 «- 9 9 «
3 0 «- 34
118 -121«
9 6 «- 86«
118 -118«
108«-108«
114 -116
112«-114
- 70
- 94
112«-112«
115 -116
100 -100
20 - 120«
88 - 90
114«-116
116 -118
90 - 91
-117
- 82
90 - 90
63 - 94
- 91
96 - 98
9 6 -9 9
96 - 97
95 - 97
9 1 «- 95« 95 - 97
1 s t , 1 9 0 9 ....................5 , 6
- 75
75 - 77
7 2 -7 4
- 79« 70 - 75
86« - 89 « 8 6 - 8 8
8 5 -8 6
80 - 84 « 83 - 84« 8 4 -8 6
2 d , 1 9 0 9 .....................5 , 6 7 7 «- 86
- 90
8 8 -9 3
8 8 -9 0
88 - 91
- 91
9 6 «- 97« 9 1 «- 92
9
4
«98«
959496
«
93«—
95*4
9 4 «- 96
E a s t e r n D i v . . . ............. 6 91 - 95
- 21
1 9 «- 23« 20 - 24«
20 - 27
24 - 26
31 - 3494 32 - 84 « 3 2 «- 3494 31 - 33« 2 5 -2 9
C o n . in c o m e ........ .............6 3 0 «- 3494 3 1 «- 34
I n d . D e c n fc 8 p ’ g fie ld .—
102 - 102« 101 -102
106«-108 106 -107 104 -105
1 s t , e x fu n d e d c o u p ..7 103«-106 105; -107 106 -10694 104 -105 104«-109 108 -108«
44* - 44 « .... “ .... .... " .... 3 5 -3 5
46 - 46
4 1 «- 48
38 j - 41 « 39 - 40 « 3 8 -4 2
2 d in c o m e T r u s t rc p ts . 3 8 -3 8
-115 112 114 112 -113 113«-114 108 -110 108 -1 0 9 «
I n t e r n . dfc G t . N o .—1 s t .6 117 i -117 1 1 7 -1 1 8 « 121 -122 119 -120« 112«-115« 114«-115«
75 - 80$6
8 6 -8 9
80 - 86
7 7 «- 81
90
91
- 94
9 2 «- 93«
9 3 «- 95
95 - 9694 9 3 «- 96
C o u p o n , 1 9 0 9 .................6 93 - 9494 93 - 98
106
-106
102«-103
10194-103
101
i
-101
J e ffe r s o n —1 s t ..................7
7 3 «- 76
7 3 «- 75« 7 2 «- 74
7 3 «- 73« 7 3 «- 75 7 5 «- 76« 7 8 -7 8
70 - 71
6 4 -7 2
K e n t u c k y C ., s ta in ’ d . . . ! 64 - 65
92«
8 9 «- 89« 8 9 «- 92
90 - 02
9 4 -9 5
9 6 -9 6
96 - 9994 97 - 99« 9 7 «- 99
9 7 «- 99
K n o x .d k O .—1 s t , 1 9 2 5 - 6 95«-100
L a k e E r i e dfc W . —1 s t . . 6 110 - 112«
I n c o m e ...............................7' 40 - 62
S a n d u s k y D i v . —I n c . . 6 2 5 -4 2
103 -103« 102«-103« 101«-105 101«-102 101 -102 102 -103« 103M-104
L a k e E .d k W . , n e w ..5
L a i . B l . dfc M .—1 s t . . . . 6 111«-114«
I n c o m e ,. ,...................... 7 68« - 87
L a k e S h o r e dk M . So.
109 -110« 109«-109« 109«-110*6
113 -113
C l . P a i n s , dk A s h ...........7 114«-114« 114«-114« 11594-11594
121«-123« 121«-121« 119 -119
124 -124 121« - 121« 121« - 121«
B u ff . d k E r ie —N e w . . . . 7 123 -124«
106«-1G6*6
104«-104«
105 -105
102 -102
K a l . d k W . P . - l s t . , .. 7
123«-123«
126 -126« 126«-126« 12796-127« 130 -130
D e t . M o n .d k T o l .........7 129 -129
118«-118«
122 « - 122«
123 -123
L . S h o r e - D i v i d e n d ..7 123*4-123« 124 -12494 12494-125
126 -126« 126*6-127« 126«-129
125«-127 127«-128 126«-128 126«-128« 126«-129 125 -125« 124 -124 124 -125
1 s t c o n ., c o u p . .......... 7 126 -128
123«-124«
125 -126 125 -125«:
126«-127 123«-125« 123«-125
1 s t c o n ., r e g . . . ...........7 126*4-126« 125«-126 125 -127 124 -125 125«-127
122«-123« 122«-123« 122«-123 122 -123« 123 -124 120 - 122«
2 d c o n ., c o u p . ........... 7 122 «-1 2S « 12294-124 123«-124 12394-124« 124«-126« 122«-123«
123 -123 122«-123« 122 - 122« 122«-128« 123*6-124 120 - 122«
2 d c o n ., r e g .................. 7 123 -1 2 3 « 123 -123 123 -123« 123«-124« 124«-124« 122«-123«
105 -105
M a h o n i n g C o a l R R . . 5 1 0 3 « -1 0 4 « 103«-104 104 -106 106 -106« .... - .... 105«-106«
118«-120
125 -125
121«-122
12096-12096
L o n g I s l a n d —1 s t . ...........7 1 2 1 « -1 2 1 « 121 -121 124 -124
112«-118« 113 -113 113 -114 112«-112« 112«-112« 110 -112
113«-114
114«-114«
113
-115
1 s t , c o n s o l..................... 5 1 1 4 « -1 1 4 «
N . Y . dk M . B . , 1 s t . . . 7 110 -110
119«-121« 118 -118 118 -121 118 -1 1 9 «
119 -119«
L o u i s v .d k N .—C o n s o l ...7 119 -120 120«-121« 120 -121 118 -119 118 -118« 11896-119«
....¡10 3 -104 105 -106
111 -111 111 -111 111 -111 110 -110 109«-109«
C e c il ia n B r a n c h ...... 7 111 -111
108*6-109 109 109« 108«-109 109 -110 109«-110«
105 -105« 105 -107« 106«-110 109«-113 112«-113« 109 -110
N . O . dfc M o b —1 s t .....6 105 -106
96 - 96 ' V. - 98
-0 7
93 - 98 97* r 97«
9 8 «- 99« 9 9 «- 99 « 97 - 99
93 - 94« 9 4 - 9 9
S d .......................................6 9 0 « - 9 3 « 9 2 -9 3
118 -115« 115 -115 112 -112
112 -114« 112«-112«
.....
....
115
-115
117
-11796
116«-116«
115
-115
E . H . dk N a s h .—1 s t . - 6 115 -115
109 -110 112- - 112« 109«-110
I ll - 112« 109 - 111« 109 -111
G e n ’ l m o r t ....................... 6 107 -1 0 8 « 107«-108« 108«-112 110«-112« 113 -114«
101«-101«
103 -103 104«-104«
100 -100 101 -104
P e n s a c o l a D i v .............. 6 1 0 2 « -1 0 2 «
S t . L o u is D i v ., 1 s t .. 6
S t . L o u i s D i v .—2 d . - . 3
N a s h , dfc D e c a t u r ........ 7
S o .d k N o , A l a . - S . F . , 6
T r u s t b o n d s .................... 6
»..Coupon Oft
.... - ....
.... - ....
117 -121
.... - ....
104«-107 106«-108
110 -110
6 3 -6 3
106 -1 0 7 « 107 -108« 108«-109
107 -107« 107«-108
108«-111
115 -115
57 - 57
59 - 59
10796-109
119«-119«
105«-105« 105«-105« 105«-105«
105«-107« 105«-106«! 105«-108« 106«-108
January
THE CHRONICLE
7, 1888.]
17
COURSE OF PRICES OF RAILROAD BONDS—C o n t in u e d .
JANUARY
BONDS.
F e b r ’r y
Ma r c h .
A p r il .
Ma y .
June.
Ju ly .
A u g u s t . Se p t ’ b e k
d e c ’b e r .
Low. H igl Low. High Low .H igl Low.High Low.High L o w . H igh Low. High Low.High Low.High L o w . H igh Low. High Low. High
L o u is v . & N. (Cont’ d)98 - 98
B 93 - 95
6
Pensac. & A tl.-
98 - 98% 98%-100
91% - 84
9 4 -9 5
103 -103
95 -100
101% 101% 102 -102
100 -101
97-98
100% -102
S 109 -110k
5 95%- 96k
t .. . - .. .
8 101 -102
S 117 -119
s ioo% -no%
l . . . . - .. .
109%-110%
95 - 96%
92 - 92%
101 -101
118 -119
110% -H l
51 - 56%
109%-110k
95% - 97
8 9 -9 0
102%-102%
118 -119
110 -111%
59 - 59
. . . - . ..
129 -130
94 - 96% 93 - 95
90
101
109
94 -96% 90
101%-101%
111%-113 110%-112
- 90
-101
90 - 90
100% -101
100 -100
94-95
98%-100
110 -114
90 - 93%
100 -100
9 4 -9 4
98%-IOO
109 -111% 111%-115% 114 -115
-111 109 -111
113 -116
98 - 97
95%- 98
97 - 89
96%- 99
- 94% 9 0 - 9 3
91 - 92%
87% - 88 . . . . « . . .. 84%- 84% 8 8 - 8 8
104%-106 105%-1O7 105%-107 J03%-103% 100 -102 ICO -102 100 -100 102 -102% 108 -104
118 -118% 11S%-120% 120 - 120% 116 -117% 116 -117% 113 -115 114%-115% 115 -118% 116 -118%
111 -113 108 -109 108 -109 107%-109 108 -108% 106 -108 108%-109% 106%-107% 104 -105
60%- f 6% 66%- 71% 73 - 75% 68%- 72
68 - 71% 66 - 70%
68%- 68%
21 - 23% 23 - 25% 24% - 27% 20 - 26
> ... - ....
20%- 22
22%- 22%
18%- 21%
127%-129 130 -130
130 -131 127 -128 128 -128% 128 -128% 126%-129 126%-128 127 -128% 124 -124% 124%-127 :
ls t, con sol.........
.. . . - .. . .
112%-112% n o - n o
108%-109 108 -108% 105%-106 108 -110
121%-121% . . . . « . . . . 121 -121 ___ - ___
1 9 0 9 .................
120 -120
109 -110%
io7 % -n o 109%-109% n o - n o 108%-108% 108%-109 108%-109%
106 -106 106 -110
109%-109%
108 -108
106%-106%
103%-103%
104%-104%
M id. oí N.J.—1st..
112 -114 112 -112 112 -118% 110 -112% 113%-115%
112 -113% 107 -111 109 -112 107%-109 109%-110% 109%-111
119%-121% 118 -120 120 -121 121 -122 120%-121
118 -118% 118 -119 119 -120 120%-123 117%-120 120%-12Ì%
Conv. deb........
>. . . . - .. . .
98%- 99% 99%-104
101% - 101%
95%- 96
94%- 94%
95-95
102 -102% 101%-104% 104 -106 105%-107 104 -104%
101%-102
100 -100% 97 -102
100 -10O
114 -117 116 -116% 115 -116% 116 ‘ -117 117 -121
115 -116
114%-114% 114 -115 115 -115
Ashland D iv., 1st...
115 -115
.. . « . . . . . . . . « . . . . . . . . - . . . . 117 -118%
116 -116 115 -116 113 -114% 113 -114% 116 -116 116%-117%
104 -104 105 -105% io8 % -n o n o -n o 110%-111
107%-109% 107%-108 108%-108% 109 -110 110 -111 106%-109%
101 -103 103 -105% 105%-107% io ? -n o
109%-110
107 -107 106%-106% 106 -107% 106%-107 107 -107% 104 -105
101%-102
132 -133 . . . . - . . . . 133 -133 132 -132
180 -130
119 -120 . . .. - .. ..
118%-119 118 -118
113 -113
ICO -107%
2d, 1891
100 -100 100 -100 . . . . - . . . . 101 -101 1
100 -100
•
107 -108% n o -n o
108%-109
108 -108
86% - 90 . . . . - . . . . 8 5 - 8 5
89%- 90
89-89
81 - 81
70 - 70
50 - 70
102%-103% 103 -105% 104 -105 103 -103 103%-103%
101% -102
98%-101 101 -101%
93 - 93%
97 -100% 96%-100% 99 -101% 101 -102% 100%-102%
99
93 - 97
91 - 95% 88 - 93% 78 - 91% 76% - 84
68%- 77%
G en. con sol................5 85 - 87% 8S%- 88% 8 6 - 8 8
87% - 89% 88 - 89% 84%- 87
82%- 85
79%- 83% 77 - 81% 68 - 81
66 - 73% 6 0 - 6 8
Consol......................... 7 112 -113% 109%-110% 109%-111 111 -112% 112 -113%
113 -113% 107%-110 108 -110% 105 -111 103 -108% 104%-107
2 d, in co m e ..........
69 - 69
H an. & C. M o.—1st..7 . . . . - .. . 109%-109% n o -n o n o - n o 105 -105 .
io9 % -n o 108%-109% 109%-112 n i% -ii4 112%-114
118%-113% 113%-114 114 -114 111%-118% 113 -114 105 -109
106 -106 . . . . » .. . . 105 -106 104%-104% 104 -105%
-107
106 -107% 108 -108 107 -107 107 -107% 105%-10P%
62 - 66% 6 1 - 6 6
59%- 61
- 55
60-66
1 s tpref.debenture ...7 6 0 - 6 5
50 - 54
47-50
45 - 45
42%- 49
40 - 45
- 44
36
36
33
87%
36
88%
33-87
S0%- 32 .
2 d pref. debenture__ 7
22%- 22% 2 3 - 2 7
23 - 23
18%- 25%
- 24
28% - 28% 28 - 29 .. . . - ........
3d pref. debenture....7 . . .. - . . ..
20 - 20
20%- 21
25 - 28
4th pref. debenture..7
Ì3 - 13
74 - 74
78 - 73
St. Louis & C.. gu a r.4 74 - 74 7 3 - 7 4
73%- 74 .
73 - 73
71%- 72% 72 - 72%
M organ’ s L . & T.ls t , 1 9 1 8 ....................7 . . . . 123 -123 124%-124% 121 -121
121 -121
M utual Union T—S .F .6 84% - 85% S4%- 85% 85 - 89 87%- 89 85%- 87 85 - 86% 85 - 86i 83 - 85; 83 - 86%
84 - 85% 82%- 84%
H- 89
Nashv.C.Ac St.Ii.—1st. 7 129%-130 130 -130 128%-130 129 -131 129 -131 .
127 -129 125%-129 125 -126% 125%-129 128 -129% 130 -180%
2d, 1 9 0 1 .....................6 109 -109 109%-109% .. . . - .. . . 110 -110% 110%-110% 1
108 -108 107%-107%
107%-107% 107 -107
N ew J . J une.—1 st....... 4 ---- “ . . . .
102%-102% .. .. - ___
100 -100 104%-104% 105 -105
New J . South.—G u ar..0 98 - 98 88 - 98 100 -100 100 -101% 101%-101% 1
97%- 97%
N.O.Pac.—1st, tr, r e c ..6 78%- 83% 75%- 86 80%- 84% 83% - 85% 85 - 86% 83 - 85% 81 - 83% 77%- 82 69%- 80% 70 - 75 75 - 77% 74%- 77
N .Y . Central—E xt....... 5 105%-106% 106 -106% 106 -106% 106%-107% 104%-104% 1
104%-105 103 -103 10S%-104% 104%-105% 108%-104 103%-104%
i01%-102% 102%-102% 103 -108% 1
1 8 8 7 ............................6 101%-101%
100%-100%
101% - 102% 102%-102% 103 -103
N.Y. C.& H .—lst,cp ..7 133%-134% 184%-134% 133%-lSe 136 -136% 135%-187 1
134%-135% 131%-133 130%-133 182 -183 183 -137% 1S6%-137%
1 st, re g ......................7 183 -184%
133 -135% 135 -135 135%-136% .
134 -135 131 -133 132 -132 131%-133 135 -136 186 -136
D ebenture............... 5 10S%-109% 109%-108% 106 -107% 107 -108 108 -109% 108%-110%
1
109%-110% 110%-110% 106 -107% 107 -108 108 -108% 108%-109
R e g is te re d ........... 5 n o -n o 109%-109% 106 -107% 107 -107% 108 -108 .
108 -110 I.... - ..
107%-107% 108%-109
Can. So.—1st, gu a r... .5 105%-106 104%-105% L05 -107 106 -107 106%-108% 1
104%-106 104%-105% 104 -106 104 -106 104%-106% 105%-107%
2 d m ort.....................5 93% - 95% 93 - 95 91%- 92%I 91% - 92% 92 - 94%
Í- 94% 92 - 94% 92 - 93% 87%- 91
89 - 91
91 - 92%
%- 93
2 d m ort., r e g ......... 5 92 - 92
90%- 91%
132
-133
131%-133 1S2%-182% 131 -133% 129%-130% 130%-130% 130 -130%
H arlem —1 st, coup__ 7
131 -131 129 -129 129%-I29%
1 st, re g ......................7
131%-132% 132 -132% 132 -132% 128%-130% 130%-130% 131 -131 180 -130 1S0%-130% 127%-130 129 -129 129%-130
- 97
9 5 -9 8
97%'- 97%
N .Y .C hic.& St.L.—1 st .6
- 97% 94% - 99% 97 - 97%
1 st trust receip ts__ 6
A ssen te d .........
96%- 97% 96% - 99
98%-101% 99 -101% 97 -100% 96%- 98% 94%- 99% 97 -100% 99%-100%
2 d m ort.......................6
90 - 97
95 - 95
98 - 98
96 - 97% 9 9 - 9 9
New, 1st, 1 9 3 7 .........4
84%- 86%
84% - 875
N.Y.City & No.—Gen’ 1.6 65%- 66 69 - 71 69%- 72 74 - 74
78%
Trust Co. receip ts... .6 65%- 69% 67%- 73% 69% - 72% 72 - 80
78%- 78% 68 - 72% 62 - 70
59% - 62%
A s s e n te d ......................
66% - 71% 6 3 - 6 8
N. Y . Elevated—1st......7 121%-123 121%-123 121%-122% 122%-123 121% -122% 121%-122% 117 -119% 117%-119 116%-119% 117%-119 117%-119% 118%-120
112
-112
110% - 110% 111 -111
109 -112
N .Y .N .H .& H .—ls t,rg .4
N .Y . & N orth.—1st, g.5
101 -102
N .Y .O n .& W .- ls t , g ..6 107 -110 110 -110% 107 -107% 107%-109 108%-109% 109 -110% 109 -110 108 -109 106 -109 106 -108 107%-109 108%-109
N .Y . Susq.& W .—1st...6 *91%- 92% *92 - 95 *93%- 94
Debenture, 1 8 9 7 ....... 6 71 - 7 1 % *69 - 69 *70 - 70 *77 - 77
1 st refu n d........ ..
91 - 93
91% - 94% 94 - 96% 93%- 95%
90%- 92
80%- 92
90 - 92% 91 - 92%
87 - 90
2d m ort., 1 9 3 7 . ...4%
73 - 73
73 - 73%
75 - 75
N. Y .«& Tex. Land—Scrip
40 - 40
45 - 45
37%- 87%
87% - 40
50 - 50
50 - 50
N .Y .W o o d & R .—2 d inc.
10 - 10
No. W est. T e l.—1994.7
104 -104
107 -107
Norf.tfe W est.—Gen. M .6 112 -113% 113 -113 112 -112% 113 -114% 111 - 112% 115%-116
110 -110 111 -111 111% - 111%
New R iv e r—1st........ 6 H4%-114% 114%-114%
113 -113
no -no
Imp. & ext., 1 9 3 4 ....6 102 -102
99 -100 100%-100%
A di. m ort., 1 9 2 4 ...... 7 106%-106%
106%-106%
O hio Cent.—In com es....
1% - 4
2% - 8
Og. & L . C.—1st,con ...6
100 -100
Ohio & Miss. Con.s. 1..7 118%-118% 118 -118 118 -118% 118%-119% 118%-118% 118%-119 116%-117% 116 -116
114%-115
117 -118
7 118%-119% 118 -118 117%-118%
Consol...................
117%-118% 117%-118% 115 -116 114%-115 115 -115 114 -115% 115%-115%
2 d, consol.....................7 118 -119
117 -117% 317 -117 114 -116 114 -114 113 -114 111%-115 112 -112 118%-114
119 -119
1st, Springf. D iv ........ 7 109 -111 110 -111% 110%-111% 110%-112%
107%-107%
106%-106%
G e n .m ort-, 1 9 3 2 . ...3
87% - 87%
O hio R iv e r R R .—1st. .5
100 -100%
99%-100
95% - 95% 96%- 96% 9 7 - 9 8
Ohio Southern—1st..... 6 103 -107%
104%-109% 109 -111% 111 - 111% 103 -108 104 -105 102 -102 102 -105 j 104 -105 106 -107 100 -102
2 d, incom e.................. 6 40 - 47% 41 - 44 40 - 45% 42%- 47 42% - 50%
- 46
31 - 37
35-40
33%- 36
35 - 42
29%- 33
31% - 37
Omaha & St. L .—1 st..4
70 - 77% 75 77% 77 - 78% 76%- 77%
- 81% 79 - 80
76%- 79
Or. R ’ y.tfc Nav.—1 st...6 108 -109% 109 -110 109%-110% 110 -110% 110 -112
-112 109
109%-111% 109%-109% 109 -111 iio%-iii iio%-in
Debentures, 1 8 8 7 __ 7
102% -102%
Consol., 1 9 2 5 ............ 5 104 -106 102%-104% 103%-105 104%-105% t05 -105% 100%-102%101 - 101% 99 -101
99 -101%
-100
99%-lOl^i 86%- 97%
Oreg. Imp. C o.—1st.... 6 92%- 94% 92%- 93 91%- 93% 94 - 97% 97%-102% 9 7 - 9 9
92% - 96
96 - 98
89-97
- 96
98%- 95
98%- 99
Oregon Trans.—1 st ... 6 101*-102% 100 -102 100 -101 101%-104% 100 -102
68’ -101% 98%-100% 96 -100 90 - 98%
- 96% 9 1 - 9 4
89%- 93
Coupon off.
18
THE CHRONICLE
f Voi* XL\ I.
COURSE OF PRICES OF R A IL R O A D BONDS— Co n tisu ed .
BONDS.
JA N U AR Y FEBR’RY.
A u g u s t . Se p t ’b e r .
Low.High Low. High Low.Hlgh Low.High Low.Hlgh Low.High Low. High Low. High Low. High Low. High Low. High Low.High
Pacific R a ilro a d s—
115*4-116*4(117 -117% 117*4-117% 11454-115 115*4-115% 11454-11454 114 -115 115%-U5% 115%-116
Cent. Pac., g., 1 8 9 5 ..6
116*4-117 11654-117 11754-118 114%-115 11554-11554 114%-11454 114*4-116 115%-115% 116 -116
Gold, 1896. ............6
116*4-117 116*4-117*4 11754-118 11454-115
114%-115 116 -116 115%-11554 116 -116%
G old, 1 8 9 7 .............. 6
Gold, 1 8 9 8 .............. 6 114 -115*4 118%-114% 114 -11854 116*4-116*4117 -117*4 11754-H8 11454-116 11554-116*4 114 -115% 115*4-116 11554-116 116 -117
114*4-116 114%-116 116 -116
114 -114 114 -115
San Joaquin B r ......6 112 -112 111%-112 115*4-115*4 113 -113*4
100%-100% 100 -101 |100%-100% 101%-10154 101% - 101% 10254-10254
Cal. «Sc O regon... ...6 101 -101 101 -101 101 -101 102 - 102*4 103 -103
104 -104
103 -103
S eries B .................6
100 -103 104 -105 105 -105
101*4- 102*4 10154-102
Land grants............. 6 102%-103% 103 -10354 104*4-105 102 -103% 10254-10354
10154-102% 102%-10354 101 10254 102%-103% 102 -103*4
M ort. bonds, 1 936.6
114 -114 112 - 112% 112 - 112 % 112 - 112 %
W estern P a c..........6 111 -112 112 -1 1 2 114 -11654
North., Cal., guar. 6 120 -120
11854-11854 117%-117% .... - ....
117*4-118*4
117%-118*4 11454-115% 11454-115% 113*4-11554 114 -116 115*4-117 116 -118%
N o.Pac.—G en.lst, l.g 6 11554-116% 115 -117 116*4-117*4 117 -118*4
118
-118
....
117*4-117*4
114%-114%
114
-114
114 -114 116 -116% .... - ....
114
-114
G en. 1st, 1. g., re g ..6
Gen., 1. g.,2 d ,1 9 3 3 -6 103*4-107*4 10454-10654 106*4-107*4 10454-105*4 105 -10554 10454-105 105 -105% 103%-10554 10154-105 96*4-101 99 -101 10054-102
101 -101 101 -101
99 -100
103*4-10554
D ividend scrip..
116 -116 11854-119 118*4-119% 11954-11954 118%-11954 115 -116%
- ....I i 16*4-116*4 116%-11? 117%-118
St. P au l & No. Pae.6
110*4-111
Janies R .V a l.—1 st.6 1.06%-107*4 106*4 102*4
105 -105
101 -103
10654-10654
Spok. «Sc P a l., S .F ..6
99 - 99%
103 -103
D ul. «Sc M an.—1st...6
No. P a c.T er.C o.—I s t6 104 -105 104 -105 104*4-105*4 105 -105*4 105)4-106% 105%-107% 100 -103*4 101 -102 101% - 102% 101 -102% 101% - 102% 104%-104%
So. Pac. Cal—1 s t ......6 111*4-11254 110*4-111% 112*4-112*4 111 - 112% 112*4-113*4 118*4-113*4 113 -115 113 -11454 112% - 112% 108%-109% 108%-110 110 -110%
112 -112
110 -110
So. Pac. A riz o n a -1 s t 6
108 -108*4 108%-108% 109 -109%
So. Pac. N.M ex.—1st 6 10554-106% 106*4-10654 106*4-106*4 106*4-106*4 108%-109 109*4-110 1107%-108
116 -117 116 -11654 116*4-117 118%-11454 114*4-115*4 112%-115 11454-115 114*4-115 115 -116%
UnionPac. —1st 1896.6
116*4-117
116
-117*4
11454-115%
115 -115% 115 -116%
114
-11454
114*4-115
117
-117%
114*4-11554
1st, 1 8 9 7 .................6
116*4-117% 116%-117*4 117 -118 114*4-11554 115 -116*4 114 -116 115%-116% 114%-11654 115*4-11754
1 st, 1 8 9 8 .............. -6
1st, 1 8 9 9 .................6 114 -115 114*4-115*4 115 -11954 117*4-119 118 -118 118 -118% 115 -11554 116%-116% 115 -117 116*4-117 116*4-117 116 -118%
10S%-103%
Land grants............ 7 102 - 102%
Sinking lu n d ........ ..8 118*4-118*4 118*4-120 115 -11554 115%-117 116 -11654 115 -116% 114 -11554 114%-115% 110 - 111% 110 - 111% 111*4-11354 11S%-116%
115%-115%
115 -115 114%-U4%
109 -110 110 -113
R egistered............. 8
106 -106 105 -105
C ollat. T rust....... ..6 103%-103%
101 -102
95 - 95
1 0 0 5 4 -1 0 1
106 -106*4
95 - 95
C ollat. T ru s t........ 5
110 -110 109% 109% 110 - 110% 111 -111 11054-112
K . P ac.—1st, 1S95.6 112*4-114*4 111*4-111*4 112 -114*4 113 -118*4 113%-115 113 -114*4
H I54-II2 10854-111*4
1st, 1 8 9 6 ..............6 111* 4 -1 12 112 -112 113*4-115 114 -114% 115 -115 112 -112 111*4-111*4 110 -110 108%-110
Denv. D iv.—Ass’ d 6 114 -115 115 -115 116*4-116*4 117 -117*4 115 -115 114 -114 115*4-116 116 -116 116 -116 116 -116 113 -114
99 -101% 10054-102
1 st, consol............. 6 105*4-107 105 -106% 104%-107 10-7 -109 10254-105*4 103 -10354 104 -10454 102 -104 101 -103 100 -102
108 -108 103 -107
Cent. B r. U. P. . • 7 105 -105
At.Col.«Sc Pac.—1 st.6 106*4-107 105*4-106 105 -106 106 -10654 106 - 1Ò6 108 - 110% 108 -108 102%-106 104 -10454 104 -104% 1 0 2 5 4 -1 0 8 104 -106
102%-102%
106 -106 105%-105%
A t. J . C.«Sc W .—l s t .6
99%-10054
103 102 -103
97%-100
95 -100
97%-10054 97*4-100
Oreg.Sh.Line—1st..6 106*4-107*4 102 -103% 101 -103 10254-105% 100 -103%
90
93
9
0
-9
2
92%96
86%90
93%
9
4
-9
4
92%92%
92%94
93
95
Utah South.—Gen ..7
91 - 92%
91 - 95
- 93 9 0 -9 1
91 - 91
Ext’ n, 1st, 1 909...7 83 - 85*4 85 - 8654 86 - 8954 87%- 92 88 - 92%
Mo. Pac.—1st cons....6 114%-116*4 11454-116 11454-116% 117%-119 115 -116% 116 -317 116 -117*4 114*4-115*4 113 -115 112 -114% 109%-111*4 109 -111
119 -119 119 -120 115 -116 115 -119
3d, 1 9 0 6 ............... 7 122 -12354 123*4-124 125 -125 126 -126 122 -128 121 - 122% 122 -123
Pac. oi Mo.—1st...... 6 104*4-105 102 - 102% 102% -102% 102%-103 10254-103% 103*4-10354 103*4-103% 100*4- 100% 100%-101 100%-10154 10154-112*4 102 - 102%
107%-108
1C8%-108%
110
-110
110%-110%
105%-106
2d, 1 8 9 1 ................7 109 -110 10854-109
112%-118 113 -113
109 -109
113 -113
St. L.dc S. F.—2d, cl. A 6 115*4-115*4
Class “ C” ................6 11454-116% 115%-115% 115 -116% 117 -117*4 118*4-11454 113%-114% 113 -113 118 -114 112 -113 112%-11S% 110%-11254 112 -11354
11054-113 112 -114
Class “ B” . . . . ......... 6 114*4-116*4 116*4-11654 115 -116 116%-117 114 -114 114 -114 113 -113 118%-118% 112 -113
118 -118
117 -117 117 -117
P. C. «Sc O.—1 s t.......6
105 -105
107 -107 107 -108
Equipm ent..............7
G eneral m ort..........6 109%-111 108%-110*4 110 -111*4 111*4-113 113 -115 114 -115 11154-113% 113 -114 112%-113% 113 -114*4 11354-114 114*4-115
97%-10054 99%-101*4 100 -101 10054-102
G eneral m ort....... . .5
9954-10154 100* 4- 101*4 100% - 101% 98%- 9954 99 -101
S o.P a c.of Mo.—1st... .6 101%-104% 101%-10154 102 - 102% 102 - 102% 102%-10354 103%-104 100 - 100% 100*4- 100% 10(^4-101*4 101% -101% 101%-102% 102%-103
10754-109
St.L.K.iSc S .W .—1 st
107 -107
109 -109
T exas «& Pac.—1st... 6 106 -106 112% - 112%
Consol. T r. r ’ c’ pts .6 9754- 99 99%-102% 99 -102*4 100 -103*4 102*4-10354 102 -103 101 - 102% 99%-100 100 - 100% 96 - 97 97 - 97 100 -100
Inc.«Sc land gr., reg.9 61%- 62 61 - 61 63%- 64 6354- 635
45 - 49%
44 - 52
47 - 53*4
- 53% 44%- 49
5 0 -5 8
62 - 6354 55%- 62
T rust r e ce ip ts ....... 5954- 64 58%- 66% 61 - 65- 6 2 -0 4
59%- 64*4 64%- 68 % 64%- 07
- 71
ls t,R io G r .D ,tr.re c-6 67%- 7454 64 - 75% 71 - 75 74 - 775 7654- 78% 74 - 78% 71%- 75% 67%- 72
eo%- 62
- 62
56 - 62
62%- 62%
Gen. M.tSc Ter, tr .r c .6 67 - 69% 66 - 69 65 - 69 68 - 72 71 - 7154 70%- 71%
Pennsylvania R R .—
106*4-107%.
105*4-106%
103*4-104
104
-105*4
104
-104
103%-105
Penn. Co.—1st, cp. 414 104 -106 104*4-105% 10454-101% 105%-10654 106*4-107*4 107 -10754
104 -104 104%-104% 104 -106
107%-107% 103 -10% 104 -104%
R e g iste re d ........... 414 10354-10454 104 -105 105 -105
116 -118
Pitts.C «Sc St.L.—1st 7
-141
-141 142 -143 139 -141 140 -14054 141 -141 140 -141*4 142 -142
Pitts. Ft. W .«ScC.-lst.7 133 -141 140%-140% 141 -141 141 -141
-140138*4-139*4
-13»% 141 -141 137*4-139 137*4-138
2d., 1 9 1 2 ............... 7 137 -138% 140*4-141 139*4-139*4 138%-139*4
135*4-135*4 135 -135
3d., 1 9 1 2 .............. , 7 136 -138% 188*4-139 139 -139 135 -136*4
127 -128 128 -128 12754-127 127 -127
Clev.iSc P.—Cons.s.fd.7 128 -128 129 -129 129%-130*4 L29%-129% 127 -127 128 -129 12854-129
107 -107 10654- 106 % 107 -107% 108 -109
108*4-108% 10654-1065,
107 -107 107 -109%
4tli, 1 8 9 2 ................. 6
116 -116
118 -119 112 -1 1 2
118 -118
St. L.V.tSc T. H .—ls t.7
-112 109%-109%11154-114 115%-115% 113%-118% 113 -113% 110 -112 113 -113
Peo. Dec.«Sc Ev.—1st— 6 114 -114 113 -113 110 - 112*4
7 0 -7 1
- 78
70 - 79% 7 1 -7 7
76%- 80
87%- 87% 85 - 87
85 - 87*4 8S%- 86
2 d, 1 9 2 7 ..................... 5
Incom e......................... 6 81%- 85 82 - 85 8 3 - 85 8 7 -8 7
106*4-106*4 105*4-105*4
Evansv. D iv ............ a 6 110 -110% 110 -112 108 -109 110 -110 111 -112 110 -112 111% - 111%
87%86 87% 86 - 86
Evansv. D iv.—In c....6 79%- 84% 8154- 85 8 4 108 -108% 108 -108
112%-llS
Peoria«ScPek.Cn.—l s t -6 U 2% -112%
78%- 78%
75 - 75
2 d ....... ...................... 414 72 - 75
62 - 62% 67%- 70
62 - 63
Pliil.«Sc R e a d .—2d ser.5
68%- 75% 70 - 75*4 78%- 85*4 82*4- 82%
6 4 -7 3
Incom e m ort., ’ 9 6 — 7
109*4-109*4 109%-109%104%-104%
Gen. m ort., cou p.......6
- 20
21*4- 25
D eferred in com e........
-105 107 -107 108%-108%.
114%-114% 114 -114
Pittsh. Cl. «Sc T o l.—l s t -6
112 -112 115 -115% 113 -114
8 8 -8 9
Pitts.Brad.«Sc B u f.ls t -6
R ich . «Sc A ll.—T r. rec. .7 66 - 71% 67 - 72% 68%- 72 7154- 77 75%- 77 66 - 76*4 65 - 72 60 - 66% 56 - 6554 55*4- 60 57 - 61 57 - 58%,
113
-113%
113
-118% 114 -11454|114%-115 110%-112 111%-112*4 109 - 110% 110 -115 112 -115 110 -112
111%-113
-113%
R ich . & Danv.--Cons.-6
113
D ebenture............
6 107 -107 106 -106*4 106 -113% 112 -114 113 -114
D eb. ex. cp — ....
93%- 945
D eb. assented....
106 -107*4 106 -110 108 -110
Con. M ., gold, 1 9 3 6 .5
92 - 93
91 - 92%
84 - 89% 8 5 -8 9
82%- 84
9 6 -9 6 * 85*4- 87% 78 - 87
- 98
R ich . «Sc W est Pt. T e r .6
95 - 98%
115%-117 117 -117*4
-120 120 -120 117 -117
R och. & Pittsb.—1 s t.. .6
120 -1 2 0
113 -114*4 114%-115 112 -118
11S%-113%
Consol., 1 s t ................6 108 -108
117 -117 115 -115
107%-109 106 -106
Rom e W . «Sc Og.—1 st.. .7 110 - 110%
111 -111 112% - 112% 108*4-109
Con., 1st, e x ...............5 102*4-103% 102 -103 10254-104% 101*4 - 102% 102 -IO254 1 0 0 % -1 0 2 101 -10154 100%-102 10154-108*4 98 -100 10054-103 101%-102%
In com e........................7 102 -107
95 - 98% 97%- 98*4
St. J o s.& G ’ d ls l.—l s t .6 10654-107% 106 -107% 105%-10754 107*4-108% 104 -10554 103%-104*4 102*4-104 99 -102 97 -100*4 9 2 -9 8
65 - 65
65 - 65
2d, incom e.. ......... ....5 7154- 73% 72 - 72 70 - 70 70 - 75 70%- 71*4 7 0 -7 2
113 -113
113 -113 113 -113
116 -116
St. L . Alt.«Sc T .H .—lst.7 114 -114 114 114
115 -115
107 -108 109%-109% 108 -10954 108 -108*4.
2d, prei........................7
110 -111 110*4-112*4 111 -111 112 -112 11254-11254 112*4-112*4
107 -107 105 -105% 103 103%
2d, in co m e ,.................7 107%-108 107 -107 107%-107% 107*4-107% 105 -106 105 -105 107 -107
40 - 41%8 8 -4 2
3 3 -3 7
40 - 45
Dividend bonds......... 6 3 5 -3 8
85 - 35
35 - 47% 4 8 -4 3
118 -118 116 -117
116 -117
B ell. & So. 111.—1st..8
124 -124
B ell. <Sc C aron.—1st—6
U3%-113%
THE CHRONICLE.
J a n u a r y 7 . 1888.]
19
COURSE OF PRICES OF RAILROAD BONDS—C o n c l u d e d .
A p r il .
BONDS.
June.
j Ju l y .
A ugust.
De c ’ b e r .
Low .High Low. High Low. High Low. High Low. High Low. High Low.High Low.High Low. High Low. High Low. High
Low.High
S t . L . A r k . A c T e x . —l s t . 6 100 -100% 98%-100% 99%-101% 100%-102% 99
99%-100% 1 98%- 99% ! 96% - 99% 95% - 99
97%-99% 96% - 98% 97%- 98%
3 d ., 1 9 3 6 ......................... 6 5S%- 55% 4 9% - 64
50% - 53% 50 - 53%
44 - 50% 4 5 -4 7
41%- 46
35-45
89-44
41% - 45% 40 - 44%
S t . L . & I r o n M t .—1 s t . . 7 113%-115 111 - 111% 110 - 111% 110%-112 111%-112 111%-112 112%-112% 108 -109 107 -108% 107 -108% 108%-109%
108%-109
3 d , 1 8 9 7 ..........
7 113 -114% 114 -114 114 -114% 114 -114
111 -112 ¡112 -114 H3%-114 112 -113 110 -114 109 -110 108%-110
A r k . B r a n c h ................... 7 113 -112 111%-113 111%-118 112%-114%
109%-109% 110 -112
110 -112 107%-109%
C a i r o A c F u ltn n —l s t . . 7 106%-107% 106%-107 106%-107 106%-107%
108%-109%jl04%-105% 105 -105% 104 -105% 105 -105% 106 -106% 105%-109
C a i r o A r k . & T e x a n . 7 i l l -113% llt% -112% 112%-113 113 -113 116 -116 U l% -m % l l l - 111% 109 -110 109%-110% 108 -112% 111 % - 111 %
98 - 98% 9 6 - 9 8
G e n . c o n s o l. & 1. g . . . . 5 95 - 99
94 - 95;
9 4 -9 5
94-95
93 - 94% 03 - 96
92% - 96% 89% - 94
90-94
91 - 94
S t . P a n ! & D n l . — 1 s t . . 5 •• - ..
112% 112%
112% -llS 113 -113 .... » ..
S t . P . M in n . A ' M .—1 s t . .7 110%-110%
114 -115 117 -118 118 -118 116%-116% 118%-114% 112%-118% 112%-112% 112 - 112%
a d m o r t g ., 1 9 0 9 ..........6 110 -120 118 -120 119%-121 118%-118% 119 -120 118%-120% 119%-120 119%-119% 115%-118% 112%-117 115%-116%
115%-116%
D a k o t a E x t e n s i o n ....6 119 -119% 118%-120 119%-120 120 -120% 118 -119 117%-119 118%-119 116%-118 115 -115 118%-118% 115%-116
115 -116 •
U 8% -120 118 -120 119%-120 119%-120} 119%-120 116%-117% 115 -117 114%-115% 115 -118
1 s t , c o n s o l., c o u p .. . . 6 119 -1 2 0
116%-117 115%-117
0 8 -9 9
R e d u c e d t o .............. 4 % . . . - ..
99%-100
99%-100% 100% - 101% 100%-101% 98%- 99
98%- 99% 98% - 99%
- 98% 98% - 98% 9 8 - 9 9
S a n A . « f c A r . P . , 1 9 1 6 . . 6 . . . - ..
90% - 00% 91 - 91
1 9 2 6 .................................... 6 . . . . - ..
92-93
92 - 92% 92%- 92% 91%- 91% .... - .... 9 0 - 9 0
S c io t o V a l l e y — 1 s t ,c o n .7 . . . . - ..
*63 - 65 * 6 0 - 6 5
*60 - 60 .••• - ••••
*55 - 55
96 - 99% »7% - 97% 97%-100
S h e n a n d o a h V a l .—1 s t .7 96 -100
T r u s t r e c e i p t s ......................... - ..
96%- 96% 96%-107% 107 -109 107%-109 105 -106 103%-103%
92% - 97% 91% - 92
39 - 39% 87 - 40
G e n . m o r t ....................... 6 S9%- 43
88 - 52% 49% - 55
50 - 54% 47%- 52 45 - 46% 32 - 43%
35 - 87
34 % - 37
S o u t h C a r o li n a —1 s t . . . , 6 107%-107% 106%-107% 99%-106% 98% - 98% 96 - 97
96 - 99
98 - 98
97 - 97% 96% - 99
96% 9 5 - 9 6
95-96
3 d , 1 9 3 1 ............................6 80 - 80
- ..
65-65
66. - 67
.. * ..
65-66
I n c o m e s ..............................6 38% - 28% 24 - 28
19-24
25 - 25% 19 - 20
2 0 - 2 0 .... - .... 15 - 15%
13 - 13% 13 - 16% 15 - 16
T e n n .C o a l A c f .—1 9 0 1 . 6 104 -104
S o . P i t t s ., 1 9 0 a ..........6 . . . . - . . . .
107 -107
100 -100
B i r . D i v . , 1 s t ............. 6 ____ - ___ 88% - 90% 86 - 91
- 93
88-91
8 5 -8 9
88%- 86 8 0 -8 5
74 - 81
79 - 844 82% - 83
T e x . C . —1 s t ,s . f . , 1 9 0 9 . . 7 ; 77 - 77% 77 - 80
- 78
7 8 -8 1
80 - 80
70 - 70
1 s t m o r t ., 1 9 1 1 .......... 7 . . . . - . . . .
77% - 80
79 - 79
T e x . & N . O . - l s t , 1 9 0 5 . 7 . . . - . . . 115 -115
115 -115
S a b i n e D i v ., 1 s t .......... 6 . . . . - . . . . 103%-104 100%-104% 103 -103% 103%-108% 104%-104% 108 -104
100 -1 0 2 100 -1 0 2 102 -102
T o l . A . A . & N . M ., l s t . 6 f 89 - 9 2
80 - 90
89% - 90% ( 90
97
97 - 90
93 -100
98%-100
97%- 99% 90 - 97
90 - 93% f 89 - 90
89% - 90
T o l . A . A . & G . T . —1 s t . . 6 103 -103
!04%-104% 104%-105 104%-105 105%-107 107 -109% 106 -107 104 -105 102%-105 100 -105 10C%-102%
101 - 102%
T o l.A c O h io C e n t .—1 s t . 5 05 - 99% 98% - 98
95 - 98%
98 - 99% 06 - 96% 95%- 96
95 - 95 ! 91
95
92% - 95
94% - 95%
_
T o l . P . & W . —l s t t r . c t . . , 7 104 -110 108 -112 107%-109
108 -109% 108%-109
. . . . 70
70
82% - 90
T o l . S t . L . A c K . C . —l s t . 6 . . . - . . .
06%- 97% 95% - 97% 95 - 06% 94
95% I 92
96
93% - 94% 91% - 91%
V ir g in ia M id la n d —I n c .6 97 - 09
96% - 97
95 - 96
95%- 98%: - - - »,
9 6 -9 6
G e n . m o r t ., 1 9 3 6 ___5 ___ - ___
90 - 90
88%- 00
86 - 89
87%- 89% 86 - 88% 79% - 80
70
?2% 78 - 80
V a l l e y R y . o f O .—C o n .6 105 -105
104 -105 1O5%-1O0 .... -^ .... ... - ....
W a b . S t . L o u i s & P a c .—
G e n . in o r t., t r . r e c . . . 6 49 - 60 ! 49% 52% 5 2 - 5 6
55 - 58
53 - 60
5 0 -5 3
51 - 55
55% - 55% 52 - 52
56 - 57% 50% - 50%
C h ic a g o D i v .................. 5 91%- 94
89 - 95
98%- 96%
100 - 102% 98 -100% 08 - 99% 94 -100
98%-102% 99 -108% 97%-102
D e t r o i t D i v i s i o n .......6
- .... .... - ....
91 - 92
91% - 98% ! 98 -100} 97 - 97 .... - ,... 94 - 05%j 93 -102% 100 -104 103 108%
107 -107
W a b ’ s l i - M o r t . 1 9 0 9 7 85% - 65%! 86% - 88
84% - 88% 88% - 90% ¡ 93 - 97
90%- 90% 90 - 90
82 - 85
90 - 90
82 - 85
94
87
90 - 92%
T o l.A c W . —1 s t , e x t ’ d .7 1J0%-113% 112 -113% n2% -118% 113%-116 116 -117} 113 -114% 114%-114% 115 -115
L13 -114% 114%-115 110 - 112% U0%-112
S t . I i O u i s D i v .. .......... 7 106 -111% 109% -H l
110 -111 110%-114%|ll4 -116 112 -113 111 -112 U0%-110% 110 -1 1 0 % !ll3 115 110% -H l
108 -110
a d , e x t e n d e d ------------ 7| 99 -103% 90%-101% 101%-102% 102 -104%j 105 -108 105 -105
99 -102 100 -102
- 99 j 97 - 98% 96 - 96
90-94
C o n s ., c o n v ................ 7 90 - 95% . . . . - . . . . 84 - 90% 92 - 94% I 9 4 - 9 9
93 - 03
8 8 -9 0
8 5 -8 5
- 95 I 80 - 90 I*90 r* 90
92% - 92%
G t . W e s t e r n —1 s t ........ 7 109 -112% 111% -llS
112 -113% U3%-115%
113 -114 114 -114% 116 -116
-114 Ill4%-114%| 109%-112% 109%-110%
a d m o r t ., 1 8 9 3 ....... 7 99 -103% 99%-101% 101% - 102% 102 -104 105 -107 102 -105% 99%-102% 98 -101
-100
94 - 99
93% - 96
90 - 05
Q u in c y Ac T o l .—1 s t . . . 7
- .............. - . . . .
96 -108
99 -106 .... - .... 100 -100
-100
S t . I i . K . C . & N . —R 1 .E .7 110 -112 111 -112% 109 -111% 110 - 111% 112 - 112} 112%-llS 112 -114% 114 -114
O m a h a D i v ., t r . r e c . 7 100 -101% 100 -1 '8 % 108%-119 117%-118% 118%-125 122%-124% 121%-125 119 -119
S t . C h a s . B r i d g e — 6 103%-]03% 108%-103% 104 -104
104 -106 107 -107 .... - .... . .. 106 -106
N o r t h . M o .—1 s t ............7 U4%-114% 115%-116
117 -117% 117%-118 317% -U 8} 118 -118% 113%-113% 112 -112
112 -114% 114 -11
_•
W a r r e n —a d m o r t .........7 . . . . .......... - . . . .
120 -120y&
W e s t S h o r e , g u a r ..........4 102%-103% 102%-10S% 102%-103 102%-103% 103%-104 103 -104% 98%-101% 98%-100
97 -100
98% - 99% 98%-101 101 -102
R e g i s t e r e d . . . . . . . ........ 4 102%-108% 102%-103% 102%-103 102%-103% 103 -104 1 101-104% 99%-101% 98%-100
99% -101%
98%-101
97% - 99% 98%- 99
M e s t. U n . T e l .—C o u p . .7 119%-119% 118 -118% 119 -119
120 -120
.... - .... 116%-116%
118 -118 115%-115% 117 -117
R e g i s t e r e d .................... 7 . . . . - . . . U9% -119%
120 -120
.... - .... 116%-118% 118 -118
117 -117
119 -119
W h e e l . & X a k e E . - l s t . 5 . . . . - .............. - . . . .
101 - 102% 100%-102 100 - 101% 100 - 101%
_
Coupon off.
COURSE OF PRICES OF R A IL R O A D A N D MISCELLANEOUS STOCKS FOR THE Y E A R 1887.
[Compiled from all sales of Stocks at the New Y'ork Stock Exchange.]
STO CK S.
Ja n u a r y Fe br ’RY
MARCH.
A p r il .
Ma y .
June .
Ju ly
A ugust. Se pt ’ ber October
NOV’BER. Dec’ber .
Low.High Low. High Low.High Low. High Low, High Low. High Low. High Low. High Low. High Low.High Low. High Low. High
R A IL R O A D .
A lb a n y A 'S u squ eh an n a. 134 -134 .... - ... 140%-140% 145 -145 149%-151 150%-150% 151 -151 150 -150
“
141 -141
A tch ison T op . & S . F e .. 86%- 98% 96%- 99% 97%-106% 105%-109% 10P%-116% 112 -118% 110%-111% 102 -107% 101 -106% x90%-103% 91%- 94% 92%- 94%
A tla n tic tfc P a c ific .......... 11 - 12% 10%- 12% 11%- 13% 12%- 14% 13%- 15
13 - 15% 11%- 14
10 - 12% 9%- 12% 9%- H
9%- H% 10 - 11
_
.
B e e ch C r e e k ...................
40 - 40
.... « ....
P r e f.................................
75 - 87
H ost .A N .Y . A ir -L ., p rl 101 - 101% 101 -102 x99 -102 100 - 100% 100 -101
99%-100% 99 -100% 98 -100
97 - 98%
98%-101
99 - 99
97^- 99
B u tt. R o c h . Ac P itts b __ 33%- 85% 34 - 42% 42 - 66
64 - 74% 69 - 72% 65 - 70% 5» - 68 57 - 60
53 - 59
50 - 51
4 5 -5 0
50 - 55
_
B u r. C . R a p . Ac N o rth ... 50
50
47 - 47
-- 47 - 50%
50%- £0% 60 - 50
C a n a d ia n P a c ific ............ 62%- 68% 59%- 63% 59%- 62% 62 - 66 62%- 65% 59 - 62% 54%- 61% 58%- 57
49%- 56
53%- 62%
50%- 53% 53%- 55
C a n a d a S ou th ern ......... 55 —63^ 52%- 60% 56%- 62% 59%- 63
60%- 64% 56%- 63% 49 - 59% 50 - 56
50%- 58% 50%- 55% 53^- 00 54%- 57%
C ed a r F a lls & M in n ...... 18%- 19
16 - 18
15 - 17 .... » .... 15%- 15% 14 - 15% .... - .. .... “ ..
6%- 6%
0%- 11% 8%- 9
7%- 10
C en tra l I o w a ................... 14 - 15% 10 - 15% 10 - 11
11^ - 15
12
8
11%- 14
4 -7
6 -6
C en tra l o f N ew J e rse y . 55%- 68% 63%- 71% 67 - 73
72%- 86% 79 - 82% 73%- 84% 72%- 80% 69%- 77% 67%- 78% 68%- 74% 72%- 80
78%- 76
C en tra l P a c ific ................ 85%- 43% 33 - 38% 35%- 40% 39%- 43% 40 - 41% 36%- 40% 35%- 88% 34%- 38% 32 - 37% 28%- 33% 30%- 34% 32 - 37%
C h esa p ea k e & O h io...... 8%- 9% 8 - 9 %
8 -9
8 -9 %
7 -9 %
7 - 7% e%- 7% 5%- 7
5 3%- 4
2 -4 %
1 st p re f............................ 15%- 17
14%- 16% 14%- 15% 14 - 15% 12%- 14% 10%- 13% 10 - 12
10 - 12
9 -1 2
6%- 8
6 -11
4 -7 %
3 d p r e f ............................ 9%- 11% 9%- 10% 9 - 10% 0%- 10% 9 -1 0 % .... - .... 7%- 8
6%- 8% 6 - 7 %
4%- 5%
5 - 7% 3 - 5 %
C h ica g o Ac A lto n ............. 143 -144 143 -145 144 -146% 145 -147 145%-155 148 -154% 150%-152 148 -152 140 -150 130 -142 133%-139 135 -136
P r e f.................................. 155 -155 .... “ .... .... « .... • .. « ... 162 -162 162 -164 161%-161% 162 -162 162 -162 160 -160 155 -160
.. » ..
C h ic. B u rl. & Q u in cy ... 186%-138% 137 -140% 187%-140 139%-147% 146%-156 140 -148% 137%-145% X1S5-142 131 -138% 12S%-185^ 127%-135% 124%-133%
C h ic. & E a ste rn 111.......
109 -109
C h ic. & In d . C o a l.R ’ y .
.... - .... 62 - 67% 62 - 64% 57%- 60
41 - 45
53 - 53
3 8 -4 7
43 - 45
40 - 40
40 - 40
P r e f..................................
w “ yu>£
90 - 93
C h ic. M il. & S t. P a u l.... 87%- 91
85%- 92% x89%- 92% 90%- 93% 90%- 95
86%- 04% 79% - 89% 78%- 83% x78 - 85% 69%- 79% 71J4- 78% 73%- 77%
P r e f.................................. U7%-118% 117%-121% x l8%-122% 120 -122 120 -127% 119 -125% 117 -123 117 -121 xll4%-20% 110 -116
111 -115% 110%-113%
C h ic. & N o rth w e st......... 111 -115 110 -116% 114%-121% 119 -121% 120%-126% xll5-127% 109 -119% U0%-116% 110 -116% 104%-113% 106%-113% x04% -lll%
P r e f.............................. . 188%-140% 139 -142 xl40 -149% 146 -151% 149%-158 147%-153% 145 -148% 142 -145% xl40 -146% 137?4-142% 140 -144% 138%-142
C h ic. R . I . Ac P a c ific ...... 125 -126% 125%-1.26% 124%-127 125%-130 129 -14i0% 127%-136% 127%-132 123 -129 116%-128% 109%-121 109 -116% tl0%-114%
C h ic. S t. L o u is Ac P itts. 16%- 18% 16 - 18% 16%-. 19% 18%- 22
18%- 20% 16 - 18% 16 - 18
15 - 16% 12%- 15
13%- 15% 14 - 15% I2%- 14%
P r e f................................. 35 - 40% 87 - 41
38 - 45% 44 - 52% 49 - 52
40 - 49% 3 9 -4 7
36%- 43% 35 - 45
40
35 - 40% S6%- 41% 36
C h ic. S t. P a u l M . Ac O ... 46%- 51% 45%- 50
48 - 51% 51%- 53% 51%- 54% 48%- 54% 44%- 52% 42%- 49% 39%- 47% 34, - 44% 37%- 42% 36%- 40%
P r e f.................. ...........
106%-109% 106 -109% 108 - 112& 111%-113% 112%-117% xl2%-118% 108 -113 107 -111% 104%-110 100 -107 106 - 110% 105%-110
(Jin. fla m . Ac D a y to n __ 130 -155 .... “ .... .... - .... 141 -146% 146%-146% 147%-147% 185 -142% 40 -120
50 - 60
60 - 60
65 - 65
THE CHRONICLE
20
[Y ol. X IA L
COURSE OF PRICES OF RAILROAD AND MISCELLANEOUS STOCKS—C o n t in u e d .
A P R IL .
STOCKS.
MAY.
June .
JULY.
A ugust . Sept ’ber October .! NOV’BER.
Low. High Low. High Low. High Low. High Low. High Low. High Low. High Low. High Low. High Low. High Low. High
73%- 77%
06 - 79
73% 80
71 - 75
87 - 89% 81 - 85% 79 - 81Jé 6 6 -8 0
87 - 93
99 -101
C i n . In ti. S t . L . & C h ic .. 95 - 98% 97M-104
3%- 4% 3% 3%
6 -5 %
3
4% 3 - 4
3%- 4
4Jé- 5
4%- 5
5%- 5 « 4%- 6JÍ 5 - 0
5%- 7
C i n c in . W a s h . & B a l t . .
4%- 7
5 - 6% 5%- 6% 5%- 6
5%- 7
8%- 10% 8Jé- 9% TJé- 8Jé 7 - 7 %
8% - 10% 7%- 9Jé 8 - 10
F r e t ......................................
50% 55
47%54%
51
- 56
51
61%
50
55
49
56
58
66
62 - 65% 65 - 68 65 - 67Jé
d e v e . C o l. C in . tfc I n t i... 60%- 65% 5 9 -6 5
153Jé-154 152%-152% 152%-154 151%-152% 151 -152% .52 -152%
C l e v e . & P i t t s ., g u a r .. .. 149 -151% 144 -152Jé 150%-151% .52%-153 l52Jé-153% 153 -153Jé
__
16 - 17% 15 - 16% 15 - 17%
35 - 35 25 - 38
24 - 29
50 - 50
C o lu m b i a tfc G re e n v . , pf.
SOJé- 37
28Jé- 33Jé 23Jé- 80% 21 - 25Jé 15 - 25% 20%- 24% 22%- 27% 22 - 26%
34 - 37% 28Jé- 85Jé 8 0 -8 4
C o l . H o c k . T a l . tfc T o l.. 34 - 39;
125%-185 125%-131%
D e l . L a c k , tfc W e s t e r n .. 133 -138 131%-137% l32Jé-136% 134%-188% 136Jé-139% 130 -139Jé 126 -134 126%-1S2% 124%-134Jí xl2S% 30%
22%- 24% 21 - 22%
26
24Jé- 30Jé 30 - 32% SOJé- 32% 28 - 82% 26 - 29% 24%- 28Jé 23%- 27% 20%- 26
D e n v e r & R i o G r a n d e .. 24 - 28% 21
57%62%
52%58%
62%68%
57
63%
56
62%
55 - 60Já 52%- 56%
62%67%
61
05
56%- 01% 59%- 64%
F r e t ........................................ 564- 66
12%- 16% 16 - 17% .... “ .... 13 - 16%
16 - 17
19%- 21Jé 17 - 19
20 - 23
20 - 21Jé 19 - 20
D e n v . tfc B i o G r . W e s t . 20 - 23;
79 - 79
79Jé- 79Jé
D e t r o i t H i lls d .t fc S o . W .
14 - 15
12%- 13% 10 - 11% 10 - 13% .... - .... 9%- 12% 8%- 11
D e s M . tfc F t . D ..................
75 - 75
8 2 -8 2
85 - 85
D u b n q n e & S . C i t y ...........
12%14%
lijé
- 13% 10%- 13
9%- 12Jé 9%r 11% 10 - 12% 9Jé- 11
13
15%
12%- 14% 12%- 13% 12%- 14%
E .T e n .V .t f c G a .R y ., n e w 13%- 17
69 - 77
58Jé- 71Jé 57%- 62% 52 - 61% 55 - 58% 58 - 65% 58%- 63%
1 s t p r e f ............................... 72 - 82% 71%- 77Jé 73 - 76Jé 74 - 76% 74%- 78
21%- 24%
1 8 -2 2
21 - 20
20%- 25Jé 21 - 25
19 - 25
24%- 26J 24%- 28% 2 4 -2 8
2S%- 32
21Jé- 26% 2 3 -2 6
itd p r e l .................. ..
10 - 10% .... - ....
15 - 15 15%- 15% 16%- 17 15Jé- 15Jé .... « ... 10 - 10 .... “ .... 11 - 11
E l i z a b e t h t .L e x . tfc B . S . 18 - 18
87 - 89Jé
8 3 -8 5
85 - 92
87 - 89% 83 - 87
80 - 87
86Jé- 88 84 - 86% x86%-100 95Jé- 99Jé 92 - 99
E v a n s v i l l e tfc T . H a u t e 86%- 89
__ - __ 105%-105Jé 100%-100% ... « .... 95Jé- 97% .... “ .... 96%- 96%
F l i n t tfc P e r e M a r . , p r e i
46%- 48
47%- 48% 40%- 48%
44%- 47
47%- 62Jé 41%- 49
43Jé- 46% 44%- 47
22Jé- 25% 21Jé- 24Jé 24%- 42%
F o rt W o rth & D enver
9 - 10% 8 - 9 %
15Jé- 16% 13Jé- 15% 10 - 14% 9%- 12% 7%- 11% 8%- 10
15%- 17
G r e e n B a y W in .t fc S t .P . 1 2 -1 3 % 12%- 13% 12%- 16
26%- 27% ... » .... 17 - 18 .... “ .... ... « ....
20%- 28
P r e i ...................................... j
....
»
....
.... “ .... .... » .... 200 -200 210 -215 218%-214
220 -225 223 -223 223 -223 223 -225 219 -225
H a r l e m ..................... .............
21%- 29% 2 3 -2 9
3 0 -3 0 .... « .... .... - .... 25 - 25
2 0 -2 0
80 - 87
37 - 40% 37%- 41
H o u s t o n tfc T e x a s Cent. 4 2 -4 5
l32Jé-135 xl28Jé-32% 129 -182 129 -135% 138Jé-138 *120% 37% 121Jé-124% xllTJé-124 116 - 121% 114 -119 115J4-118 115 -119
I l l i n o i s C e n t r a l ............
9 4 -9 4
94%- 94% 93 - 95%
92 - 95
9 4 -9 4
95 - 95
96 - 99
98Jé- 97
93 - 97
93 - 93% 96 - 97
L e a s e d l i n e , 4 p . c ........ 95 - 96
14% -17% 12Já- 14
I n d . B l o o m , tfc W e s t . . . .
18
23%
15 - 20
12 - 17% 12 - 15% 14 - 16% 12Já- 14%
24 - 25Jé 20 - 24%
24
17%- 18% 22%- 27
A s s e s s m e n t p a i d ...........
7 -8
4 -4
5 -5
5 -7
10 - 10
5 -5
4%- 6
10 - 10
K e o k u k tfc D e s M o in e s . 14 - 14
25
25
25
25
25
25
P r e f . ......... .......................... , 30 - 86
45 - 47 38 - 45% 35 - 41% SOJé- 87% 80%- 38% 28%- 32% 31 - 34% 28Já- 80
38%- 43%
K i n g s t o n tfc P e m b r o k e
17%- 22Jé 15%- 19% 13 - 18% 13%- 16
14%- 15%
M%- 17
23 - 24Jé 18 - 24
L a k e E r i e tfc W e s t e r n ...
59%- 61 I 58 - 60Jé 53 - 60% 51 - 58% 43 - 54% 40 - 50% S9%- 46% 45 - 48^4 4S%- 46%
P r e f . .......................................
90Jé98%
92Já96%
92%
97
94%98%
89Jé95%
00%- 96% 89 - 95%
95 - 98%
L a k e S h o r e ........................... 91 - 96% 90 - 90% 93%- 96Jé
94Jé- 96% 91 - 96% 85 - 93% 87 - 92
8 8 -9 3
89 - 93
95 - 99% 90 - 99
94%- 98 95%- 97%
L o n g I s l a n d .......................... 98 - 95
59%- 6SJé
66%- 69Jé 62%- 68% 59Já- 64Jé 59Jé- 63% 58 - 64% 54%- 61% 57%- 63
L o u i s v i l l e tfc N a s h v ill e . 60%- 67% 57 - 62% 60%- 60%
38 - 44
40 - 56
40 - 45
86 - 41
61 - 64Jé 57 - 67% 5 8 -6 3
80%- 49
L o u i s v .N e w A lb .tfc C h ic . 58 - 05Jé 60 - 63Jé 60%- 63%
__ - .... . . . . - .... 14 - 14
27Já- 30% 20 - 27 .... « ....
M a r q . H . tfc O n t o n a g o n
88 - 93% 88 - OOJá 8 3 -8 5
84%- 84% 83%- 85
8 3 -8 3
98 -lOOJé 9 0 -9 8
P r e f . . . . . ............. ..................
109%-121
93%-113%
115
-101
|158
-160%
x94%-109
90 -104% 99%-l03% 92%-101
M a n h a t t a n C o n s o l......... 154 -158Jé l55%-157Jé
11%- 14% 10%- 12% 10 - 12
10%- 11% 8 - 1 0
16 11 - 14
16 - 18% 14
16 - 16% I 10 - 17
M a n h a t t a n B e a c h C o ...
10 -17% 15%- 17
50 - 53
4 0 -5 2
40 - 52
50 - 61
49 - 55% 45 - 50
M e m p h i s tfc C h a r le s t o n . 51 - 63Jé 55 - 59Jé 55 - 58% 58 - 04J 59 - 62Jé 55 - 61
1S%- 16% 13 - 10
15%- 18Jé 14 - 17
13%- 13Jé 18%- 14
11%- 14
17Jé- 19
M e x i c a n C e n t r a l ............ 13Jé- 13% 14 - 14Jé 14%- 15Jé 16 - 22
81
91%
80 - 80% 82 - 88
91 - 95Jé 87 - 94%
81%- 88% 86%- 92Jé 85 - 86%
88%- 93%
M ic h ig a n C e n t r a l............ 86 - 93% 86 - 91
80 - 68 79%- 88% 79%- 87
84%- 89% S3 - 86%
91 - 94% 87Jé- 94
79%- 85
M i l w . L a k e § h .t & W . . . . 66Jt- 70Jé 08 - 75% 75 - 90Jé
115 -119 x ll0 % -119 106 -118% 103 -110 100 -109 101 -106% 103 -108% 104 -107%
P r e i ................................... 98 -lOCJé 99 -104 102 -lllJ é 109
_
_
40 - 40
50 - 55
5 55 - 62
M i l w a u k e e tfc N o r t h ’ n ..
5%- 9%
12 - 15% 10 - 16
18 - 20Jé 15 - 19Jé 18%- 17
8%- 12% 9 - H
17%- 19% 17%- 19Jé
M in n e a p o li s tfc S t . L . . . . 18 - 20
36 - 47% 28%- 38% 29Já- 36% 2 2 -3 4
18%- 26% 19 - 24% 15 - 21
4sjéP r e i ............ ............................ 42 - 45% 40%- 44Jé 42 - 44Jé
16%19%
24%29%
26
32
23
28%
17 - 21%
81Jé- 33%
21%- 27% 17%- 25
M i s s o u r i K a n . tfc T e x a s 28%- 38% 26%- 32% 80 - 82%
107Já-112 92 -110% 96%-104% 90 -100
89%-100% 84J6- 94% 84%- 93% x86%- 91%
M i s s o u r i P a c ific ................ 105 -109Jé 104%-llOJá xl05Jé-09%
10 - 12
%- 11
15 - 17Jé 13%- 15Jé 12 - 14% 12 - 13% 10%- 13
9%- 12
16 - 17
M o b i le tfc O h i o .................... 15Jé- 19Jé 14%- 17
M o r r i s tfc E s s e x ................ l39%-140Jé 138%-141% 127%-188Jé 137 -139? 139 -140 136Jé-140 137 -139% 136Jé-139 137 -188% 135 -188% 185Já-137 133%-187
76 - 79%
68%- 73% 73%- 81
82Jé- 87 79Jé- 86% 76%- 83% 77 - 83% 70 - 80
82%- 87
N a s h v . C b a t t . tfc S t . L . .. 81 - 88% 79%- 88Jé 83 - 85
. 1 2 - 1 2 .... “ ....
... » ...
2%- 2% 3%- 4%
N e w J e r s e y tfc N . Y .........
107
-109
109
-113%
106%-110
106
-109%
105%-109%
112%-114%
101%-107%
105%-110%
N . Y . C e n t , tfc H u d . R i v . 111%-114% 110 -114Jé xllJé-113% 112%-114
15%- 17%
é 19 - 20% 17 - 19% 16%- 19% 15%- 18% 14 -18% 14%- 18
0% - 11% +16%- 20
9%- 15
N . Y . C h ic a g o tfc S t . L . . .
29 - 31
34 - 37% 31 - 30Jé 30 - 33% 20%- 81
26%- 32
27 - 82
18%- 23 +27 - 32%
P r e i ......................................... 2 0 -2 8
17%- 20% 10% - 18
N e w .......................................
64Jé- 70
68 - 77
1 s t p r e f . ...............................
_
_
_
_
-
_
_
_
30%- 39
40 - 42
99%-108% 101 -103 100%-102%
105%-107 105 -107% 105%-105% 100 -108 108 -109 108 -109 107%-109 107Jé-107Jé X102-109
24Jé- 29Jé 20Jé- 31% 27%- 30%
80Jé- 34% 29%- 34% 88Jé- 34% 33%- 35% 38Já- 85% S0%- 84Jé 28 - 82% 27Jé- 31% 27 - 82
62 - 68% 63%- 67%
68 - 74% 66%- 71% 64 - 71% 61%- 70Jé 59 - 67
65%- 73% 65%- 74% 70%- 73% 72%- 74% 72 - 76
S8%- 43% 85 - 40%
51 - 57% 55%- 62% 59Já- 66 56%- 65% 55 - 61% 45Jé- 59% 40 - 53% 40%- 48Jé S5%- 46Jé 34%- 41
210
-212 210 -215
210 -220 |208 -214 210 -221 220 -222Jé 227 -238 220 -233 321%-280 222 -222 210 -220 208 -210
17 - 20% 15%- 18% 17%- 18Jé 18%- 19Jé 18%- 19Jé 17%- 19% 16Já- 17% 15%- 17% 15Jé- 18% 14%- 16Jé 15%- 17¡ 15Jé- 17
ll% - 12% 11 - 14
12%- 13% 13 - 13Jé 12 - 13% 10%- 12Jí 9%- 11% 8Já- 10Jé 7%- 10% 8%- 9Jé 8Jé- 10% 8%- 9Jé
27%- 30%
24Jé- 30% 25 - 28% 27%- 33
31%- 84% 31 - 38% 34%- 87% 36%- 38% 86Jé- 37% 80 - 36% 29 - 33% 26Jé- 32
14%- 16%
15 - 21
10 - 20
13 - 15Jé 14%- 17
14Jé- 18% 14 - 18
18 - 23% 17%- 22
20Jé- 22% 20%- 23
l+Jé- 22
40 - 43%
45 - 54
50 - 54% 51%- 55Jé 44%- 53% 41%- 48% 40 - 45% 38 - 45% 34Jé- 42% 39 - 44
43%- 49% 47%- 51
22
- 22%
21
24
%
24%33%
22%28%
20
24%
31
%
38
Jé
29%33%
32%34%
26%- 28
26%- 28% 27%- 28% 28%- 30%
43%- 49Jé 44%- 47%
41%- 51
56%- 01% 50%- 60% 58 - 60% 60 - 62% 61%- 63% 58%- 62% 58 - 61Jé 47%- 59% 48%- 55
26%- 80% 25%- 27% 2S%- 26Jé 23Jé- 30% 21 - 25Jé 23 - 25% 22 - 25%
23%- 29% 22%- 28% 27 - 31% 80%- 32% 29%- 81
12 - 10
19 - 19
17 - 18
12 - 13% 10%- 13Jé 12%- 14% 10% - 12
19 - 21
18 - 18
17 - 20% 19Jé- 21% 19%- 22
_
_
21 - 24%
25 - 30
29Jé- 31% 30Jé- SIJé
O r e g o n S h o r t L i n e ........... 29 - 31
28; - 29Jé 22 - 26%
17Jé- 20Jí 15 - 17% 12 - 19% 16 - 18
28%- 28% 26 - 29% 28%- 30% 27 - 29
16 - 22Jé 17%- 22% 18%- 21%
O r e g o n tfc T r a n s c o n t in ’ l 29Jé- 84Jé 29%- 33% 30%- 33% 33Jé- 85% 33%- 35% 26%- 34% 24 - 81% 20 - 27% 18Já- 26
P e o r i a D e c . tfc E v a n s v .. 30%- 35% 82%- 36% 32%- 35% 84%- 36% 34%- 89% 82%- 38% 28 - 35% 22%- 29Jé 17Já- 26
18Jé- 23% 20%- 23% 18Jé- 22Jé
50%- 65
P h i l a . tfc R e a d i n g ...........
5S%- 63Jé 02 - 71% 64%- 69%
86 - 42Jé 84 - 39% 86Jé- 89% 39 - 47% 44 - 47% 47%- 53% 47%- 58% 47%- 57
P i t t s . F t . W . tfc C ., g u a r . 145 -148 145 -145% 146%-147% 147 -149% 148%-152 152 -155% 150 -151 150Jé-151 150 -152 148%-1S0% 149%-15u% 150 -151
_
_
_
104 -104
104 -104
R e n s . tfc S a r a t o g a ............ 170 -170 167 -167 167 -170 170 -170 170 -170 170 -170
161 -101 103 -168 161 -164 160 -163 168 -163 165 -íes
8 -9
7%- 9
R i c h m . tfc A l l e g h e n y . . . .
8 - 10% 8%- 11% 5Jé- 10% 6%- 7% 4 - 6Jé 2%- 4
2Jé- 3% 2%- 3Jé 2Jé- 2Jé 2 - 2
23 - 29% 20Já- 26Jé
R ic h m o n d tfc W e s t P t . . . 40 - 53
41%- 47% 37%- 43Jé S7Jé- 42% 88Jé- 41% 26 - 39% 25%- 33Jé 22Jé- 30% 20%- SOJé 20Jé- 27
53Já- 64 x51%- 62
47 - 55
P r e f . ....................................... 75 - 87% 77 - 81% 72 - 78
58 - 70% 51 - 64Jé 4 3 -6 2
67%- 76
71%- 76% 72%- 76
4 - 4
3 -3
85 - 87
79Jé- 90
75
83
R o m e W a t . tfc O gdensb. 86 - 95
80 - 89
85 - 90% 90 - 93% 89 -98
88 - 91% 84 - 87% 78Jé- 86
85 -8 7
_
..
_
«.
28 - 28
30 - 30
36 - 88%
S t . L o u i s A lt o n tfc T . H . 3 0 -3 5
82 - 38% 32Jé- 3SJé 3 4 -4 0
32 - 34
30 - 33% 83%- 84% 34%- 44 41%- 45% 39 - 43Jé 33 - 41
_
70 - 70
P r e i .......................................
71 - 7ft * ¡5 -8 4
75 - 7534 75%- 75%
80 - 80
15%-. 17 10 - 18
S t . L o u i s A r k .t f c T e x a s 22%- 23% 22%- 25
11 - 15Jé 14%- 17% 12%- 13%
16 - 19
21 - 24Jé 21Jé- 23% 20 - 23% 18 - 23
8S%- 37
34
>
,
37%
S t . L o u istfc S . F r a n c is c o . 80 - 33
SO - 82Jé 31%- 34Jé 88%- 40% 37 - 44% 33%- 43Jé 35 - 39Jé S2%- 38Jé 80 - 38Jé 82Jé- 38
68% - 74% 68Jé- 73%
P r e f .................................. 63 - 67% 61%- 05Jé 65%- 70% 69 - 80% 77%- 84% 72 - 83% 73%- 78% 68 - 76
0 4 -7 5
66%- 77
1 s t p r e f ....................... .. x l 12-117% 112%-113% 113 -116% 115 -118% 110%-119% 112 -120 115Já-119% 111 -115 109Jé-113Jé 107 -112Jé 110 -114% 112 -114%
57 - 63%
62%- 06
S t . P a u l Se. D u l u t h ......... 55%- 81% 57%- 03% 59%- 02% 62%- 69Jé 62%- 90 x78 -9 5
72Jé- 80
60 - 74% 55 ^ 07
74 - 82
P r e f . ................................. 107 -108% 108 -109% 107%-110 108%-110 108%-114% 108%-113% 102Jé-108
: -105 100 -104%
99 -105
99Já-105 100 -1C-1
105%-111%
S t . P a u l M in n , tfc M a n . . 113%-117 113 -119% 115 -119 113 -118% 114 -120% 114 -120% 112Jé-H7Jé 110%-115
97 -115 x94%- i üÚ •>. iii%
8 - 10%
9 - 10%
S o u t h C a r o l i n a ...............
7 - 7Jé .... 16, - 17
13 - 15
8 -9 %
.. “ . . . . 8 - 9
9 -1 5
12 - 15% 10 - 12
S o u t h e r n P a c ific C o ...... 85 - 36% 85 - 35% 29%- 35
- .... .... 4
34%- 34Jé 31 - 84Jé 30 - 31Jé
34 - 35
T e x a s tfc P a c ific ............... 20 - 24%
A s s e s s m e n t p a i d . . . . . . . 22%- 26% 20 - 29% 26 - 30% 27%- 81% Solé- 35^ 25 - 34% 25Jé- 30Jé 24%- 29% 20Jé- 29
28% 23%- 27
21Jé- fc íf
N . Y . L a c k , tfc W e s t .........
N . Y . L a k e E r i e tfcW e s t .
P r e i .........................................
N . Y . tfc N e w E n g l a n d ...
N . Y . N . H a v e n tfc H a i ti.
N . Y . O n t a r io tfc W e s t . ..
N . Y . S'usq. tfc W e s t .......
P r e i ........................................
N o r fo lk tfc W e s t e r n .........
P r e i ........................................
N o r t h e r n P a c i f i c ..............
P r e f . .......................................
O h io tfc M is s i s s ip p i...........
O h io S o u t h e r n ....................
t Assented.
S3
ok
co
* Ex rights.
THE CHRONICLE.
J anu ary 7, 1888.]
21
COURSE OF PRICES OF RAILROAD AND MISCELLANEOUS S T O C K S -C oncluded .
JANUARV FEBR’RY
STO CK S.
MAECH.
A p r il
Ma t .
JUNE.
Ju l y .
1A ugust. Sept ’ beb
October Nov ’beb
DEC’BER.
Low.High Low.High Low. High Low.High Low. High Low. nigh Low. High ILow.High Low. High ILow. High Low.High Low. High
3 4 -3 5
2 8 -2 8
2 7 -2 8
55 - 50
55)6- 55)6 5 4 -5 4
P r e f.................................. 57 - 58)6 57 - 58)6 55)6- 58
51 - 51 .... - ..
50 - 50
40 - 4996 50 - 50
53%59)6
U nion P a c ific .................. 55M- 62
5096- 01)6 00)6- 03)6 0096- 0396 55}$- 01^ 52%- 58% 5196- 57% 50 - 57% 4 4 -5 4
45%- 58% 5396- 59%
_
216 -216
210%-210%
21296-21396
U tica & B la c k R iv e r ... __ — T_ t. * . r 121 -121 118)6-118)6
122 -122
_ f
U tah C e n tr a l..................
15 - 15
2 0 -2 0
V ir g in ia M id la n d .......... 35 - 42
3 5 -3 5
35 - 40
3 1 -3 5
35 - 4296 40 - 45% 38 - 4096 8 5 -4 4
4196- 44
40 - 40%
W n b . S t. L o u is & P a c .. 1396- 19
18)6- 19
20)6- 2296 17)6- 21% 17)6- 19
1096- 1996 1996- 22
15%- 19% 15%- 1796
1096- 1896 16%- 18% 14 - 19
P r e f ................................. 25)6- 35
2
9
-3
4
83
37)6
35
%38)6
2396- 31)6
32 - 8096 2 9 -3 4
28%- 82% 28%- 83% 27%- 8396 29%- 33% 27%- 82%
W h e e lin g & L a k e B rie ... - ....
.... - .... 53 - 0396 57)6- 03% 52)6- 03
40)6- 5096 S5%- 4296 85 - 4796 3 7 -4 3
41%- 5096 42 - 4696
TELEG RAPH .
_
_
A m erica n T e l. «fc C a b le. . _ 70 C e n t. & S o . A m e r. T e l. 95 - 90
-- 9 0 -9 0
W estern U nion................ 71 - 70
7096- 70
7396- 78)6 7596- 77% 75%- 78% x07%- 79 70%- 78% 70%- 75% x70%- 79% 73 - 79% 7096- 81% 7596- 79
EXPRESS.
A d am s................................ J399f-144 142 -140 142)6-145 142 -14496 143 -147 143 -148 145 -150 145 -152 145 -150 141 -147 141 -145 142 -143
A m e rica n ........................... 107 -110 108 -110)6 10896-H0 109 -115 114)6-113)6 110 -117% 109 -11096 107%-110 100 -109 107 -109 107 -n o X105-110
U nited S ta te s .................. 02)6- 04% 02 - 04
62 - 05
0 2 -0 4
03)6- 73)6 03 - 71
00 - 70% 05 - 76
68 - 76
05 - 69%
08 - 70% x65%- 70
W e lls , F a rg o & C o........ 126)6-12996 127 -180 127)6-12996 127 -12996 128)6-134)6 132 -187 128 -135 128 -131 120 -130 120 -130 127)6-131 12996-132
C O A L & M IN IN G .
C am eron C o a l.................. 39l$- 49U 44<V 48^
C o lo ra d o C oal «& Iro n . 3596- 4096 35)6- 39)6 3 7 -4 2
41)6- 49)6 4796- 58)6 44)6- 5196 38 r 40% 84 - 43% 30 - 41% 31 - 37
32%- 40% 32%- 37%
C o l. & H o c k . C . & I __ ... " .... 35)6- 3796 30)6- 40% 45%- 50
45)6- 47)6 37 - 40)6 29)6- 42
26%- 30% 24 - 3396 22 - 28% 27%- 83% 25 - 3096
C o n so lid a tio n C o a l...... .... “ .... 21 - 23
24 - 25 .... « .... 21 - 21
24 - 24
20
20
24%- 25
20 - 23 .... " ..
22 - 23
23 - 25
H om esta k e M in in g ....
13 - 15
13)6- 15
12%- 14
11 - 1296
15 - 15% 1496- 15% 12%- 15
13 - 14
12 - 13
13)6- 15)6 15 - 15)6 15 - 10
M n rsh a ll C o n so l. C o a l ... - i .4 t -* - ....
25%- 3216 22 - 28}$ 20 - 22}$ 9 - 1 3
15 - 15
7 -8
M a ry la n d C o a l............. - 14 - 17
14 - 15
13 - 14
14 - 14
10 - 11
13)6- 15
12 - 12
n - 11% n - n
11%- 13% 15 - 10
N ew C en tral C o a l.......... 1436- 18
14 - 10
9-11
14 - 14)6 ll% - 13
n -12
13)6- 17)6 12)6- H
11%- 13
14 - 15 .... - ... .
9%- 11
N .Y .& P e rr y C o a l & I .l 02)6- 7096 08 - 72)6 71)6- 7296 x69%- 72)6 09 - 71
08)6- 72
49 - 0996 5096- 51% .... - .... . . . - .... .... - .. .... - ....
O n ta rio S ilv e r M in in g .. 22 - 25)6 25 - 20
25 - 20
26%- 27
25 - 25)6 24)6- 25
20 - 27% 26%- 27
25 - 25% 24%- 20% 25 - 27
2 0 -2 7
P e n n sy lv a n ia C o a l.........282 >282 275 -270
272 -272
266 -266
268 -268 260 -268
Q u ick silv e r M in in g .......
5%- 0% 5 - 5% 4%- 5% 5%- 696 0% -12
0)6- 8
6 -0 %
7)6- 896 096- 796 0)6- 7)6 0 - 0 9 6
0%- 7
P r e f.................................. 28 - 33)6 x29 -x31
2 7 -3 0
2 5 -2 5
30)6- 3196 29 - 3196 30)6- 35 31 -8 4
30 - 81
23 - 25
30 - 3496
2 0 -3 0
T e n n e sse e C o a l & Ir o n 44 - 54)6 45 - 49)6 41 - 4796 4 4 -5 0
25%- 34% 21%- 30% 23 - 27% 25%- 81% 26 - 29%
38)6- 44% 31 - 3996 80%- 89
_
.
W h ite b re a s t F u e l C o ...
87%88$$
85%- 87%
C a n ton C o .......................... 00 - 00
59 - 59
55 - 55
C h a r tie r s V a lle y G a s ..
..... - ....
8996- 00
80)6- 87%
C o n so lid a te d G a s .......... 79 - 80)6 83%- 80% 83)6- 80)6 84 - 80)6 x85 - 89 " 78)6- 8496 7S%- 80
71%- 76
0 7 -7 7
70 - 75%
6996- 74% 72%- 77
D e l. ds H u dson C a n a l... 101)6-10496 10096-10396 100)6-102 101)6-10596 xl02% 0596 100 -10496 99%-10296 x98%-102% 90)6-10196 9096-10096 100%-106% x 102-103%
_ 110 -117)6 117 -128 127 -12714 128 -12996 124 -124 128 -123
E q u ita b le G a s -L . C o. ..
1
J o lie t S teel C o ................ 122 -130 120 -182 !40 -140 135 -137)6 138 -144
110 -n o I115 -115
I r o n S te a m b o a t C o .......
22 - 22
20 - 20
•1
N. V . A T e x a s L a n d ...... 170 -170
105 -105
O regon lm p rov em ’ t C o. 40 - 47
8 8 -4 3
8 8 -4 2
3 4 -4 6
34 - 45 j 85 - 41% 37%- 44% 43%- 47
3896- 43)6 88 - 5496 44 - 53
45 - 52
O regon R ’ y & N a v .C o ... 97)6-10496 90)6-10296 x99)6-103 100 -103% 101 -10596 98%-104
79% -9 2
92%- 99% 84 - 9596 x84 - 95
88 - 9196 87 - 90%
P a cific M a il S . S ............. 48)6- 6396 49)6- 07)6 f3)6- 5096 55 - 5896 5496- 5796 4396- 5596 87%- 47
37 - 43 xS2%- 41% 82%- 40% 33 - 40 84 - 3996
P b ila . C o ., N at. G a s __ 109 -114)6 105 -115 100 -111 104 -108 101 -107% 95 -101% 90)6-100
95 -100
8996-100
95 - 97 92%-x99 94%- 97%
P u llm an P a la ce C a r .... 139)6-147)6 xl4S)6-4796 140 -153)6 151 -153 150 -15996! 147%-157% 148 -152 142 -14896 145 -152 t44%-152% *186 -141% 138%-143
[• 8%- 101$ 9}$- 91$
R ig h ts .............................
S ilv e r B u llio n C e r ts .... w !ffl m
97 ”- 97 '
.... - ....[
9096- 96ft 9096- 9796 ... - ....[ ... - ....[
* Ex dividend aud rights,
QUOTATION'S OF STERLING E XC H A N G E FOR E V E R Y D A Y IN THE Y E A R 1887.
[Compiled from tlie quotations of leading bankers
Day
of
January.
F ebruary.
M arch.
M on. 00 d. Sight. 00 d. S igh t. 00 d. Sight.
1 ..
.,
H oliday.
8516-0 4 89
85%-6 8816-9
2 ..
S..
85]6-0 4 89
8516-6 8816-9
. . 4 81-16..85-16 4 85 4 89 8516-0 8816-9
4 .. 4 81-16..85-la 4 8516 4 89 8516-0 8816-9
5 ..
.. 4 81-16 85-16 8516-0 4 89
0 .... 4 8116 4 8516
S.
S.
7 ... 4 81*6 4 8516
8516-0 4 89 8516-0
8 ..
..
8116-2 8516-0
,9 - .:.
8.
8516-0 4 89
4 8516 4 8816
1 0 ..
. 4 82-16 80-16 8516-0 4 89
1 1 ..
..
4 834
87
1 2 ..
.
4 834
87
3
1 3 .. .. 4 83 4 «7
1 4 ..
1 5 ..
10 ...
1 7 ..
1 8 ..
19 ...
20. ..
2 1 ..
22—
2 3 ..
2 4 .. ..
2 5 ..
S.
S.
April."1
00 d. Sight.
4 85% 87%-8
4 85}£ 87%-8
4 851a 87%-8
8516-0
8816-9
4 8516
8716-8
4 86 4 88
8816-9
4 80
4 88
8516-6
4 80
4 4 89 8516-0
4 80 4
4 8 5 * 4 88
8516-0 4
89
4 804
89
..
4 83 4 87 4 80-16 89-1685-516
8716 8
..
4 83-16 87-16
4 8016 4 8916
8.
4 8816 4 8916 4 8416 4 87
..
4 8316 4
8716
4 8016 4
8916
..
4 8316 4 8716
4 80-16 89-% 4 8416
4 8316 4 87164 8016 4 8916 4 8416 4 87
4 8316 4
8716S.
S.
..
4 8316 4
8716 4 8016 4 8916 8416-5 4 8716
4 83% 4 87% H oliday. 4 85 8716-8
S.
4 86*6 4 8916 4 8516 4 88
4 8416 88-816 4 80
4 89
4
86
.. 84)6-5 4 8816
4
80
4
8416-5 88-816 4
80
4
89
4
4 85 . 4 88l|
8.
S.
4 85 4 8816 8516-0 8816-9 8516-8 88-816
85 M6. 8816-9 ..................... 8516-6 88-816
.8.
..................... 4 8516 4 88
8516-6. 4 89
..................... 4 8516 4 88
26
2 7 ..
28 ..
2 9 ..
3 0 ..
5 1 ..
Range—
H igh 4 81
L o w . 4 86
4 85
4 89
COTTON
4
4
8 '%
8616
4 88J6
4 89%
CONSUMPTION
4
4
AND
80
8416
8816-9
4
4
8516
8516
8416-5
87-716
4
4 87
8416
4 8816
89
80
4 87
80
4 8816
4 8816
4 894 8716 4 89487164 S94 8016 4884 84
4 874 8516 4 8716480164 884 8316 4854 8316
4 85164 8816 48516
4 854 8116 48416
W e have this week compiled our usual statements of
overland receipts, exports, spinners’ takings, etc., and as
presented below the results embrace the first four months
o f the cotton crop season— .he period from September 1 to
December 31.
OVERLAND MOVEMENT TO JANUARY 1.
In our last monthly review we stated that tbe overland
shipments of cotton had been extremely liberal during
November; the same is true of December, the total gross
exceeding that for tbe previous month and ccnsequently
Decem ber.
60 d. Signc.
4 82 4 86
4 82 4 80
4 82 4 80
S.
4 82 4 80
81%-2 85%-0
8116-2 8516-6
8116-2 8516-0
8116-2 8516-0
8116-2 8516-6
S.
8116-2 8516-6
8116-2 8516-0
2-216 516-016
2-216 516-616
4 8216 80-011
8216-3 86-616
4 83 4 8016
4 83 4 8616
4 83 4 8016
4 8316 8616-7
4 8316 4 87
4 8316 4 87
S.
H oliday.
4 8316 4 87
4 8316 4 87
4 8316 4 87
4 8316 4 87
4 8316 4 87
4 814851648216
4
4
8016 4841648016
OVERLAND overreaching anything ever before recorded.
M OVEM ENT TO J A N U A R Y 1.
4
4 88
4 88
October.
00 d. Sight.
4 8016 4 85
S.
4 8016 4 85
4 8016 4 85
4 8016 4 85
4 8016 4 85
4 8016 4 85
4 8016 4 85
S.
4 8016 4 85
4 8! 4 8536
81-116 8516-6
8116-2 86-616
4 82 4 8616
4 82 4 8616
S.
4 8216 4 8616
4 8216 4 8616
4 82 '4 80
4 82 4 80
4 82 4 80
4 82 4 80
8.
82216 4 80
82-216 4 86 i
82-216 4 86 1
82-216 86-616
82-216 86-616 ■
4 8216 4 8016 •
S.
4 8216 4 8016
The move
ment has been 315,598 bales in December this year
against 261,557 bales in December, 1886,and 280,019 bales
for the same month of 1885; for the four months of tbe
present season tbe aggregate is 873,256 bales, an increase
over last year of 196,500 bales and a gain compared with
1885 of 174,494 bales. In the net the excess in favor of
the current year is even more decided than in tha gross,
the month’s result being 258,287 bales, and contrasts
with 192,376 bales and 183,955 bales respectively in the
two preceding vears, while for the season to date the gain
over last year is 196,970 bales and reaches 185,620 bales
compared with 1885.
8016
4 854
THE
22
" --- — 1■'■1
1"
----
CHRONICLE
[Y o l .
1887.
OVERLAND FROM SEPTEMBER 1 TO JANU ARY 1 .
1886.
1887.
A m ount Shipped —
1885.
318,946
129,219
60,395
53,681
31,305
8,787
61,326
573
87,312
117,870
3,842
224,876
108,908
79,467
10,438
33,000
14,152
2,685
59,868
7,502
60,949
69,808
5,103
Total gross overland.........................
873,256
676,756
89,969
119,555
34,453
19,200
New Orleans..........................................
M obile....................................................
Savannah..............................................
Charleston......................................... .
North Carolina ports...........................
Virginia ports................. ......................
4,050
12,604
1,016
2,803
707
16,942
13,506
4,628
450
2,334
328
3,013
Total to be deducted........................
162,544
163,014
173,670
710,712
513,742
525,012
Deduct—
Deduct also Shipments inland and Tak
ings fa r Southern Consumption
fro m the follow in g Southern ports—
Leaving total net overland*............
* This total includes shipments to Canada by rail, which since Sep
tember 1, 1887, amounted to 24,908 bales; in 1886 were 21,247 bales;
and in 1885 were 21,061 bales.
RECEIPTS, EXPORTS AND SPINNERS7 TAKINGS.
The marketing of cotton through t)ie outports during
December has not been so free as in the corresponding
month of the two previous years, the aggregate net
receipts being only 963,584 bales, against 1,164,886 bales
in 1886 and 1,069,920 bales in 1885. For the season to
date, however, the total is in excess of any preceding
year, the gain over a year ago (the previous highest
figures) reaching 254,402 bales. Foreign exports also
have been much less liberal than in December of 1886,
but exceed slightly the result for the month of 1885. The
season’s aggregate still continues to show a substantial
gain over either of the two previous years, in consequence
of the very heavy shipments in earlier months. The
stock of cotton at the outports at the close of December
exhibits a decrease from last year, but at interior towns an
increase is shown. Below we give our usual table cover
ing receipts, exports and stocks:
Movement from Receipts Receipts EXPORTS SINCE SEPT. 1, 1887, TO—
since
Stocks
since
Sept. 1,1887, to
Sept. 1, Sept. 1, Great France. Conti
Total. Jan. 1.
Jan. 1,1887.
1887.
nent.
1886. Britain*
4,024
62,591 248,491
87,899
Galveston......... 551,818 580,281 181,876
..
Indianola, & c.
New Orleans__ 1,801,06t 1,119,369 344,936 169,108 244,888 758,932 397,099
25,204
25,204 49.539
M obile............... 157,690 158,097
20,356
16,360
3,500
10,230 182,445 300,643 135,594
Savannah.......... 717,855 655,771 107,968
44,421
19,374
19,374
22,681
Brunswick, &c.
51,703 21,489 127,301 200,493 58,516
Charleston....... . 833,588 324,189
10,591
13,453
2,156
Port Royal,&c.
62,543
6,895 33,843 102,781
20,942
W ilm ington...... 150,711 115,564
8,876
8,288
Waahingt’n.Ac
360,877 399,519 165,020
165,020 55,955
117,835
9,493
W est Point,&c. 367,882 227,671 117,835
19,955
47,239 237,486 20,92! 123,500 381,907 175,141
New Y ork .........
86,063
44,017 33,394
1,712 87,775
17,600
38,370
10,088 19,796
1,595 18,166
58,131
16,515
Baltimore..........
15,909
3,702 31,969 24,758
19,126 28,267
Philadelphia,&c.
Total 1887......... 4,010,200
1,466,645 238,762
1885.
Taken by Northern spinners since September 1 ,1 8 8 7 .............. 1,214,105
Taken by Northern spinners same time in 18 8 6.............. ........ 994,885
Increase in takings by Northern spinners this year.......bales.
3,755,798 1,462,642
282,808
Total 1886.........
8,594,628 1,113,971
212,409 706,750 2,033.130 1,131,538
AMOUNT OP CROP NOW IN SIGHT.
In the foregoing we have the number of bales which
has already been marketed this year and the two previous
seasons. An additional fact of interest is the total of the
crop which was in sight on January 1, compared with
previous years. Vfe reach that point by adding to the
above the stock remaining at that date at the interior
towns, less stock held by them at the beginning of the
season. In this manner we find the result for three years
on January 1 to be as follows.
1887.
Using the facts disclosed by the foregoing statemen ts,
we shall find that the portion of the crop which has reached
a market through the outpoits and overland, and the
Southern consumption since September 1, this year and
the two previous years, is as follows:
1886.
1885.
Total marketed, as above....bales.
Interior stocks in excess of Sept. 1
4,925,912
468,000
4,419,540
395,505
4,250,730
527,707
Total in sight...................bales.
5.393,912
4,815,045
4,778,437
This indicates that ihe movement up to January 1 o f
the present year is 578,867 bales more than in 1886 and
615,475 bales greater than in 1885.
As it will interest the reader to see what has come into
sight each month of the season during this and previous
years, we have prepared the following.
18S6.
1885.
October................
N ovem ber..........
824,369
1,588,766
1,63,9906
1,340,871
434,838
1,359,901
1,552,539
1,467,767
485,552
1,360,870
1,443,433
1,488,582
413,836
1,309,111
1,390,902
1,360,404
Total 4 months.
5,393,912
4,815,045
4,778,437
4,474,253
1887.
Months.
1884,
WEIGHT OF BALES.
To furnish a more exact measure of the receipts up to
January 1, we give below our table of weight of bales.
Same
Same
Four Months Ending Jan. 1, 1888. p eri'd in peri’ d in
1886.
1885.
Number o f
Bales.
Weight in
Pounds.
Average Average A verage
Weight. Weight. Weight.
551,318
1,201,036
157.690
782,632
344,179
728,759
154,587
1,005,681
285,290,525
579,394,238
78,160,380
377,032,966
163,863 622
346,160,525
73,181,486
490,772,328
517-47
482-40
50200
481-75
476-10
47500
473 40
48800
517-22
486-10
49900
479-33
473-00
477-00
470 00
503-91
519-61
485-12
509-00
491-63
48000
477-00
47 0 00
489-22
Total___ _ 4.925.912
* including j lorida.
2.393.856.070
485-97
490 01
490-28
552,184 2,297,634 1,118,884
* Great Britain exports include to the Channel.
219,220
The above indicates that Northern spinners had up to
January 1 taken 1,214,105 bales, an increase over the cor
responding period in 1886 of 219,220 bales and an in
crease over the same time in 1885 of 156,886 bales.
798,148 2,498,555 1,054.707
Total 1886.......
1886.
Receipts at the ports to Jan. 1.......bales. 4,010,200 3,755,798¡3,594,638
Net shipments overland during same time 710,712 513,742] 525,092
Total receip ts............................ bales. 4,720,912 4,269,540 4,119,730
256,047 Southern consumotion since September 1 205,000 150,000 131,000
121,733
Total to January 1.....................bales. 4,925,912 4.419,540 4,250,730
37,759
The amount of cotton marketed since September 1 in
15.568
31,214 1887 is thus »seen to be 506,372 bales more than in 1886 and
22,673
9,536 675,182 bales more than in 1885. To determine the portion
38,311 which has gone into the hands of Northern spinners dur
37,147
57,580 ing the same period we have prepared the following.
65,970 Total receipts to January 1, 1888, as above.................... bales.4,925,912
5,224 Stock on band commencement of year (Sept. 1,1887)—
At Northern ports..............................
49,004
698,762
At Southern ports...............................
33,082 — 82,036
At Northern interior markets..............................
2,155— 84,241
104,506
Total supply to January 1,1 88 8 .......................................
5,010,153
48,882 Of this supply there has been exported
to foreign ports since Sept. 1, ’87*-.2,498,555
Less foreign cotton included..................
1,725—2,496,830
Sent to Canada direct from W est.......................
24.908
Burnt North and South.......................................
6,702
236
3,380 Stock on hand end of month (Jan. 1,1888)—
At Northern ports............................
234,014
8,194
At Southern p orts.................
820,693—1,054,707
687
At Northern interior markets............. . ..............
7,901—3,591,048
4,217
802
Total takings by spinners since Septamber 1 ,1 8 8 7 ..bales.1,419,105
2.766 Taken by Southern spin ners...,.......... .................. ..................... 205,000
From St. L ou is.........................................
Over Illinois Central...............................
Over Cairo & Vincennes.........................
Over the Mississippi River, above St. L.
Over Evansville & Terre H au te............
Over Jeffersonville Mad. & Ind*.............
Over Obio & Mississippi Branch........
Over Louisville Cincinnati & Lexington
Receipts at Cincinnati by Obio R iver...
Receipts at Cincinnati by Cin. Soutb’rn
Over other routes.....................................
Shipped to mills, not included above...
Receipts overland at N.V., Boston,&c.
Shipments between (or South from)
Western interior tow n s....................
XIAI
—
T ex as...............
Louisiana.........
Alabama..........
South Carolina.
Virginia............
North Carolina.
Tennessee, <feo..
THE CH RONICLE
J a n u a r y 7, 1858.]
It will be noticed that the movement up to January 1
shows a decrease in the average weight as compared with
the same period of the last two years, the average this year
being 485-97 lbs. per bale, against 490-01 lbs. per bale
for the same time in 1886 and 490-28 lbs. in 1885.
THE COTTON GOODS TRADE IN DECEMBER.
The demand for staple cotton goods was steady but
moderate during the month, and there was a large move
ment in some descriptions on account of former transac
tions. The tone of the market continues very firm
because of the meagre supply in the hands of manu
facturers’ agents and at the mills, and additional makes of
plain and colored cottons have been slightly marked up.
Print cloths were in active demand throughout the month
and prices closed very strong at an advance of eighteen
points from opening quotations.
1887.
1886.
1885.
Oott’ n Print- Sheet- Oott’n Print
Oott’n Print Sheet
ina inas% low
low
ing
m gs,
low
ing
ings,
mid- cloths, stand- mid cloths, Hand- m id cloths stand
dling. 64x64 ard. dling. 64^64 ard. dling. 64x64 ard.
1 ...............
2 ...............
3 ...............
4 ...............
5 ...............
6 ...............
7 ...............
8 ...............
9 ...............
10...............
11...............
12...............
13...............
14...............
15...............
16...............
17...............
18...............
19...............
20...............
21...............
22...............
23...............
24...............
25...............
26...............
27...............
28...............
29...............
30..............
31...............
10316
103x,
10%
3-44
3-44
3 44
...8...
3-44
3-44
3-44
3-44
3-44
3-44
8...
3-44
3-44
3-44
3-44
3-44
3 44
.. 8...
3-44
3-47
3-47
3-50
3 50
10%
101 6
101,6
lOiie
I0ile
lOlje
ÌÒ%
1018
loia
101,6
1018
1018
10%
10 10
1011 e
10
10%
7%
8l3le
7%
815,
7%
7*4 8U>i
714 9 ' 16
714 J
9
7%
9
7*4
7%
9 lie
714 9
7*4 9
9
7%
9
734 1
7%
8 lbie
8 5,
7%
714
714
¡2“
...S..“
H’day
10%
3-50
io iltt 3-50
101l6 3-56
101,6 3-62
3*62
8 ii16
8Hi,
83x
8\
7%
7%
7*4
1
714 I 815 ,
816,
714
815,
7%
7% ! 9
<% 9
3-38
3-38
3-38
3-38
6%
!%
6%
6%
. 8 ...
3-38
3*38
3-38
3-38
3-38
3-38
6%
6^
6%
63i
6%
6%
3-38
3-38
3-3 1
3-38
3-38
3-38
..S...
3-38
3-38
3-38
3-38
3-38
H’day
.S...
3-39
3-38
3-38
3%8
3-38
6%
6%
6%
6%
e\
6%
...8 ...
9
9
9
9
9
3-19
3-19
3-19
3-19
3-.9
319
8io 6 3 19
319
3-19
319
3-19
.. S...
8 1?IX6 3 1 9
884
319
8%
3-19
81 »1# 3 1 9
813,6 3-16
8 ‘3i6 3 1 6
.. S...
87e
316
8%
313
81,'16 313
8 l J16 3 1 4
H’day
313
...8 ...
834
313
83j .. S...
8%
313
8%
3-13
8i°xe
878
8%
8 1310
813x0
6%
6%
6%
6%
6%
6%
6^4
6%
6%
6%
63x
6%
6%
6%
6%
6%
6%
6%
The following is the official statement of the public debt as
it appears from the books and Treasurer’s returns at the close
of busint ss December 31, 1887.
INTEREST-BEARING DEBT.
Q .-M .
Q .-J .
Q .-J .
J.&J.
J.&J.
Aggregate
$
$
191,956,050 38,58®,550
620,131,650 112,310,450
*64,623,512
$
230,541,600
732,442,100
151,530
14,000,000
*04,623,512
Jnt. Due Accrued
JcUnpaid. Interest.
$
$
417,389
864,512
973,717 7,324,421
51,520
1,515
210,000
210,000
9,989 1,938,705
876,711,212 150,899,000 1,041,761,742 1,662,617 10,839,183
* 2,362,000 matures Jan. 16,1895; $040,000 Nov. 1 .1895; $3,680,000 Jan. 1,1896
$4,320,000 Feb. 1 ,1890; $9,712,000 Jan. 1 ,1 8 9 7 ; $29,904,952 Jan. 1 ,1898; $14,004,560
Jan. 1,1899.
DEBT ON WHICH INTEREST HAS CEASED SINCE M ATURITY.
Aggregate o f debt on which interest has ceased since maturity is $3,163,955 ;
interest due and unpaid thereon, $178,392. This debt consists o f a number o f
items o f which the principal amounts are called bonds, the principal item
being $1,235,100 called 3 per cents o f the loan o f July, 1882.
DEBT BEARING NO INTEREST.
Amount.
Old demand notes.........................................................
Legal-tender notes.......................................................
Certificates o f deposit..................................................
Less amount held in Treasurer’s cash................
Gold certificates............................................................
Less amount held in Treasurer’s cash................
Silver certificates.........................................................
Less amount held in Treasurer’s cash...............
Fractional currency.....................................................
Less amount estimated as. lost or destroyed....
$57,105
340,681,01t
7,115,000
130,000—
6,985,00t
127,741,451
81,010,394— 96,734,057
183,194,993
6,339,570 - 176,855,423
15,318,118
8.375,9340,942,214
Aggregate o f debt bearing no interest..............
$034,254,815
Debt on which int. has ceased...
Debt bearing no in terest............
Principal.
Interest.
$
1,041,761,742
3,163,955
634,254,815
$
12.001,801
178,392
Total.
$
1,053,783,54»
3,342,847
634,254,815
Total debt..............................
1,679,180,512
12.180.193
Less cash items available for reduction o f the debt.. .$295,919,444
Less reserve held for redemption o f U. S. notes........ 100,000,000
1,691,360,705
Total debt, less available cash item s......................................
Net cash in the T reasury................................................. .........
1,295,441,281
69,842,879
Debt, less cash in the Treasury, January 1,1888. .
Debt, less cash in the Treasury, December 1,1887.
1,225,598,401
1,240,183,052
Decrease o f debt during the m onth.........................
Decrease o f debt since June SO. 1887........................
14,584,650
53,830,335
395,919,424
PACIFIC RAILROADS.
Int. repaid by Companies.
Interest
Principal
Name
accrued Interest By Trans
By cash payOut
of Railway.
and not paid by
portation m’ts: 5p.c.
standing.
yet paid. the U. S.
Service. net earnings.
$
$
$
$
$
770,553 29,664,984
Cen. Pacific. 25,885,120
5,574,932
658,283
189,090 7,049,053
Kan. Pacific. 6,308,000
3,563,485
817,095 31,494,613 11.523,832
Uni’n Pacific 27,236,512
438,409
Cen. Br. U.P. 1,600,00'J
48,000 1,938,808
319,832
0,926
59,116 2,141,183
W est. Pacific 1,970,560
9,867
Sioux C. & P. 1,628,320
48,849 1,855,094
134,573
Totals .... 64,023,512 1,938,705 74,731,786 21,126,024
1,103,619
Balance
of Inter’st
paid by
the U. S.
$
23,481,767
4,078,507
19,532,871
1,607,048
2,131,810
1,720,520
52,502,092-
The sinking funds held ($9,016,050 bonds and $154,4?6 cash) $9,171,088, o f
which $2,819,905 was on account o f Central Pacific and $6,351,181 on account o f:
Union Pacific.
UNITED STATES TR E ASU R Y STATEMENT.
N o v e m b e r 80,. 1887.
G o l d —Co in .
B ullion.
Total gold......... (Asset)
Certificates issued.......
Certificates on hand....
Bullion..........................
THE D E B T ST A TEMENT FOR DECEMBER, 1887.
4*és.........1891.
4s............1907.
4s refdg.certfs.
8s, pension .
Pacific R R s...
RECAPITULATION.
6%
6^4
Certiflc’s, net.(Liability) 96,734,057
6^4
Net gold in treasury................
6 % Silv e r —Dollars,stand’rd 218,917,539
The above prices are—For cotton, low middling upland at New York
for printing cloths, manufacturers’ prices; for sheetings, agents’ prices,
which are subject to an average discount of 5 per cent.
Amount Outstanding,
Character of Inter’t
Issue.
P'y'ble Registered.
Coupon.
Total.
23
8,232,637
Total silver........(Asset)
Certificates issued......
Certificates on hand...
Certiflc’s, net.(Liability)
Net silver in treas’y
U. States notes... .(Asset)
Certificates issued......
Certificates on hand...
Certiflc’s, net.(Liability]
Net U.S.notes in treas
Trade dollar bullion......
National Bank notes
Deposits in Nat. Banks
Balances... .(Asset)
P u b l i c D e b t a n d I n t .—
Interest due,unpaid...
Accrued interest ..... .
Matured debt.............
Inter’t on matured debt
Int. prepaid not accr’d.
Debt bearing no inter’st
Int. on Pac. RR. bonds
due, unpaid
Acc’d int., Pac. R R .b’ds
Debt and in t.(Liability)
Fract’l cur’cy redeemed
U. 8. bonds and inte’st.
Int.ch’oks & coupons p’d
Reg. &coup. int. prep’d
Debt and inter’st.(Asset'
. D’bt&int-net(Liability)
Res’ve for red. U.S. notes.
Fund held for redemp. o f
notes o f Nat. Banks....
Five p. c. f ’nd for redemp.
o f Nat. Bank notes......
Redemp.res’rJLfaiMZ-,ty)
Nat. Bank notes in pro
cess o f redem p...(Asset)
Net ros’rv os.(Liability)
Post Office dep’t account.
Disburs’g Officers’ bal’ces.
(Jndistrib’d ass’ts o f fa il’d
National banks
Currency and minor coin
redemption account...
Fractional silver coin re
demption account......
Redemption and exch’ge
account
Treasurer’s transf’rch ’ks
and drafts outstanding
Treasurer U. 3., agent for
paying int. on D.Col.bds
Total........... (Liability)
(nt.on D.Col.bds pd (Asset)
Net............(Liability)
Balances. .(Liability)
Vet balance....(Asset)
\ssets not available—
Minor coin.
Subsidiary silver coin ..
Aggregate net Asset.
79,400,975
THE CHRONICLF
24
I P jcmjelimji ©ommtrciaX %tiQlisU 2 p w s
[From our own correspondent.]
L on d on , December 2 4 ,1887.
The German demand for gold, which has been asserting
Itself more or less for some weeks, has at length become suffi,
ciently strong to necessitate recourse to the Bank of England,
.and some £200,000 have been withdrawn for’ Berlin. This is
the only sign indicative of firmness now affecting the money
market. The actual inquiry for money is extremely quiet,
and, in spite of the extended trade, is much below the aver
age for the time of year. Short loans are nominally quoted
a t 1% to 2 per cent, but money has at times found no takers»
-even at 1 per cent. So, also, discounts have been very dull,
three months’ bills being taken at 2% per cent, or 1% per cent
below the Bank rate. Some £635,000 Treasury bills maturing
next week are not to be renewed immediately, and larger
balances will therefore be available during the last two or
i;hree days of the year than was expected; in the first week
o f the new year a further £430,000 in Treasury bills falls due
and another batch of £515,000“ about the 8th of January.
Possibly, therefore, the next operation will embrace the
renewal of these three sums, amounting together to £1,580,<000.
In the weekly Bank of England return a loss of
£420,686 is shown in the reserve, owing mainly to the expan
sion of the note circulation; and the proportion to liabilities,
which last week stood at 46*17 per cent, has been reduced to
44*92 per cent.
The latest reports respecting the “ copper corner’’ are to
i b e effect that a syndicate has been formed in Paris which is
bo continue for two years and is to be managed by the Société
des Métaux, who will undertake the purchase and sale of all
copper produced by the companies interested. The syndicate
is said to include Messrs. Rothschilds, the Comptoir d’Escompte
.and Messrs. Gerod et Qie. Messrs. Rothschilds were said to be
interested to the extent of £750,000 and the Comptoir
d’Escompte to £500,000. The Messrs. Rothschilds alluded to
iare the Paris house, the London branch having denied being
In any w ay mixed up in the matter.
The rates for money have been as follows:
Interest allowed
for deposits by
Open market rates.
[V O L .
X L ’V I .
Messrs. Pixley & Abell write as follows on the state o f the
bullion market:
G old - There has been a strong demand for export to Germany, and in
addition to absorbing such amounts as were offering in the open market,
recourse has been had to the Bank of England, who have sold during the
week *192,000; *20,000 has been paid in. Arrivals: *44,000 from the
East and India. The Assam took *10,000 on 16th to Bombay, and the
Clyde to-day *12,500.
„
Silver—The rise which we noticed in last week’s circular continued
until Monday, but was not caused by Indian demands or exchange. At
445gd. considerable amounts found purchasers for India, but with spec
ulative inquiries coming on a scantily supplied market the price rapidly
rose, until 45isd. was touched. At this figure heavy sales were made on
New York account, and as the nearest Indian parity price was very much
below this, and there was no further speculative demand, the price fell
to 45d., followed the next day by a further reduction in exchange, and a.
fall of %d. in silver to 44 %d. To-day there is no change, but the quo
tation is film. Arrivals: New York *56,000, River Plate *10,000;
total, £66,000. The Assam, on the 16th, took *239,835 to Bombay, and
the Clyde to-day sails with *141,980.
Mexican dollars rose, in sympathy with bar silver, but on the fall they,
too, declined in value. To-day’s price is 43 %d. nearest.
The quotations for bullion are reported as follows :
GOLD.
London Standard.
Dec. 22.
s. d.
Bar gold, fin e....or. 77 9
Bar gold, contain’g
20 dwts silver..oz. 77 10
Span.doubloons..oz.
S.Am.doubloons.oz.
Dec. 15.
s.
d.
77 9
77 10
SILVER.
1
London Standard. Dec. 22.
Bar silver......... oz.
Bar silver, contain
ing 5 grs. gold..oz.
Cake silver....... oz.
Mexican dols__ oz.
Dec. 15.
d.
d.
4434 44 7-16
4434 44 18-16
47 11-16 47 15-16
4334
4334
Very quiet grain markets have prevailed during the week.
The approaching holidays are making themselves felt and
are limiting dealings, values remaining nominally the same.
The position o f the wheat trade can hardly be said to have
altered.
The recent display of comparative firmness has
passed away, but it is at least some satisfaction to know that
out of the recovery since the commencement of the season
the reaction up to the present is only about 6d. per qr.
1884.
1887.
1886.
1885.
Wheat.................. cwt. 15,940,636 15.875,541 18,148,823 15,827,197
6,625,019
Barley.......................... 6,307,617
8,500,649, 4,944,121
3,825,416
5,720,741 3,936,397
O a ts ............................ 5,516.503
783,313
Peas............................. 1,132,268
756,240
758,645
1,240,534
Beans...........................
760,962
798,909 1,132,579
5,486,962
Indian corn................ 7,323,479
7,536,896 7,877,011
4,711,142
Flour............................ 5,852,401
4,919,768 3,991,146
Supplies available for consumption (exclusive of stocks on
September 1):
1887.
1886.
1885.
1884.
Imports of wheat.cwt. 15,940,636 15,875,541 18,148,823 15,827,197
Imports of flou r........ 5,852,401
4,919,768
3,991,146
4,711,142
Bales of home-grown. 14,303,391 12,230,954 14,361,126 15,915,480
Total...................... 36,096,428 33,026,263 36,501,095 36,453,819
1887.
1886.
1885.
1884.
Aver, price wheat.. . . . week. 3is. 2d. 33s. 4d. 30s. 5d. 31s. 5d.
Aver, price wheat___ season. 29s. lOd. 31s. 3d. 30s. lid . 32s. Id.
a
Trade Bills.
«
Bank Bills.
Disc't H ’se.
Æiondcn ,sä
Jo ml
I
l£ u tili* u t r in a u c ia l i t t a r a e i » - » * « ! c a u t e .
A t 7 /0 14
Four
Six
Stock
Three
Four
Six
Three
CQ
Months Months Months Months Months Months Banks. Call. Days.
The daily closing quotations for securities, & c., at London,
234 234 234 are reported by cable as follows for the week ending Janu
234
."NOv. 18i 4 8 @ — 8 @ — 3 @ - 3M@4 3J404 33404
234¡234 234 ary 6.
234
" 25 4
- 334® - 3 @ — 834«4 33404 33404
33404
33404
234 234-234
834@4
234
/¡Dec. 2 4 a m 3H 3346334 334® sm
234¡234-234
3 8 (ft — 3 0 - 334®4 33404 83404
234
“
9 4
F r i.
W ed.
T hurs.
M on.
Tues.
Sat.
London.
234¡234 234
234
“ 16 4 m.<& — »% » - 2%<a - 33403% 3340334 3340334
445o
44^8
445g
234 234 234
234
“ 23 4 294® - 294® — 294® - 3M@3% 3340334 3340334
The following return shows the position of the Bank of
England, the Bank rate of discount, the price of consols, & c .,
«compared with the last three years :
FFch rentes (in Paris) fr.
U. S. 4*28 of 1891...........
Ü. 8. 4s of 1907..............
Canadian Pacific............
Chic. Mil. & St. P a u l....
Erie common stock........
1885.
1884.
1886.
1887.
Illinois Central...............
Pennsylvania................
£
£
£
£
“Circulation, excluding 7-day and
Philadelphia & Reading.
other bills..................................... 23*22.100 24,275,105 24,593,229 24,734,650 New York Central..........
«Public deposits.......................... .
-Other deposits.................................
•Government securities....... ...........
G ther securities...............................
Reserve o f notes and coin.............
-Coin and bullion ............................
Reserve to liabilities......................
Bank rate .......................................
G on sols...........................................
•Clearing-House return...................
5.522,085
22,689,556
11,010.785
19,255.087
12,758,056
20,480,156
44 92 p. c.
4 p. c.
10134
150,606.000
3.955,893
22,313,624
13,132,151
20,326 232
10,634,883
19,159,988
4034 P>o.
5 p. C.
100
116,243,000
2,569,821
23,241,571
11,558,949
21,446,974
11,620,008
20,302.543
431-16p.c.
4 p. c.
99 5-16
98,800,000
8,412,102
21,910,251
13,162,619
28,450,172
11,518,024
20,502,674
3334 P. c.
5 p.c.
9934
97,505,000
102
102
80-95
111
1293s
637g
78%
29^8
121
56
33 78
1123s
. . ........ 1025, „
1025nß
80-97% 81-40
J
llOifl
1293s
643s
w
78
o
{ui
29
121
«<1
557g
335s
;
:
11121s
102U,„
10213, „
81-35
110
128!2
63%
76%
2878
121
555s
33%
1117S
10213, « 1031ir
10215ir 1031s
81-37%
IIOI4 11018
128% 1281a
641s
635a
77
78
29
287s
121
121
55%
5578
33%
335s
111% 11178
© t f m m j e t x i a l ixu& P & i s t j e X I a t t j e i r o s
N e w Y o rk C it y a n d E u r o p e a n B a n k C h a n g e s — W e
print below the figures and tables usually given at the
end of our article on the Financial Situation.
The f o llo w in g statement, made up from returns collected
The Bank rate of discount and open market rates at the by us, indicates the week’s receipts and shipments of cur
•chief Continental cities now and for the previous three weeks rency and gold by the New Y ork banks.
b a v e been as follows:
Week ending January 6,1888.
Dec. 23.
Interest at
Paris.................
B erlin............. .
Frankfort..........
Hamburg..........
Am sterdam .....
Brussels. . . . . . . .
M adrid..............
Yienna...............
St. Petersburg..
Copenhagen......
Dec. 16.
Dec. 9.
Dec 2.
Bank Open Bank Open Bank Open Bank Open
Bate, Market Bate. Market Bate. Market Bate. Market
3
3
3
234
234
234
3
234
3
3
3
2
234
234
3
234
3
3
3
234
234
3
234
2%
3
3
3
2
234
234
3
234
234
234
234
234
234
234
234
234
334
334
334
354
334
334
334
834
4
4
4
4
4
4
4
4
434
434
434
434
434
434
434
434
5
5
5
55
5
5
5
3
3
3
3
3
3
3
3
Total gold and legal tenders....
Shipped by
Deceived by
N. Y. Banks. N. Y. Banks.
Net Interior
Movement.
11,912,000
$807,000
Gain. $1,135,000
$1,942,000 1
$807,000
Gain. $1,135,000
The above shows the actual changes in the bank holdings
of currency and gold caused by this movement to and
from the interior. In addition to that movement the banks
have gained $4,70^,000 through the operations of the SubTreasury. Adding this item to the above, we have the
following, which shculd indicate the total gain to the New
J anu ar y
THE CHRONICLE
7 , 1888. J
Y ork Clearing House banks of gold and currency for the
week covered by the bank statement to be issued to-day.
Into Banks. Out of Banks. Net Change in
Bank Holdings.
Banks’ Interior Movement, as above 11,942,000
1807.000 Gain..*1,135,000
9.700,000
5,000,000 Gain.. 4,700,000
Total gold and lesal tenders ... »11.642,000
*5,807,000 Gain..$5,835,000
Week ending January 6.1888.
The Bank of England gained £245,000 bullion dur
ing the week, made up by a receipt of £123,000 from the
interior of Great Britain and £122,000 net from abroad.
The Bank of France reports a loss of 14,450,000 francs
gold and of 7,350,000 francs silver, and the Bank of
Germany, since the last statement, shows a decrease of
13,840,000 marks. The following indicates the amount
o f bullion in the principal European banks this week and
at the corresponding date last year.
January 5 ,1888.
Banks of
Gold.
England........
France..........
Germany * ....
Anst.-H ung’y
Netherlands..
Nat.Belgium*
National Italy
T ot. this week
Tot.prev.w’k.
Silver.
January 6,1887.
Total.
Gold.
Saver.
lota1.
£
£
£
£
20,164.156 19,307,231
19,307,231
91,511,150 49,100,160 45,532,509 94.632,675
87.342.000 18,200,090 16,192,910 34.453.000
21.614.000 0,084,000 13,871,000 20.555.000
12.256.000 5.548.000 8.104.000 13.652.000
3.940.000 2.721.000 1.361.000 4.082.000
8.101.000 7.440.000
914,000 8.360.000
104.748,093 90,180,217 194,928,3 L2 109,068,487 85,975,419 195,041,900
105,734.246 90.810,810 196,551,062 108,580,807 85,763,747 194,350,554
£
£
20.164,156
44.033,679 47,477,477
19,791,260 17,550,740
7.098.000 14,516,000»
4.051.000 8.205.000
2.627.000 1.313.000
6.983.000 1.118.000
* The division (between gold and silver) given in our table of coin aDd
bullion in the Bank of Germany and the Bank of Belgium is made from
the best estimate we are able to obtain; in neither case is it claimed to be
accurate, as those banks make no distinction in their weekly reports
merely reporting the total gold and silver; but we believe the division
we make is a close approximation.
N ote.—We receive the above results weekly by cable, and while
not all Oi the date given at the head o f the column, they are tte
returns issued nearest to that date—that is, the latest reported figures.
The Assay Office paid $137,179 through the SabTreasury during the week for domestic and nothing
for foreign bullion, and the Assistant Treasurer received
the following from the Custom House.
C hanges
in
25
L e g a l T enders
and
N ational B ank N otes
National B ank Notes—
Amount outstanding December 1,1887___
Amount issued during December......
Amount retired during December............
Legal Tender Notes—
Amount on deposit to redeem national bank
notes December 1, 1887.......
Amount deposited during December ..
Amount re-issued & b’nk notes retir’d in Dec.
Duties.
Gold.
Dec.30.
“ 31.
Jan. 2.
«
3.
“
4.
«
5.
Total..
$197,719 54
111,824 57
$3.000l
4,000|
562,126 65
1,004,246 18
957,304 86
8,000
7,000
5,500
$2,836 221 80
$27,500
TJ. S.
Notes.
Gold
Oertiflc’s.
$24.000
15,000
Silver Cer
tificates.
$139,000
79,000
$32,000
17,000
480.000
83 5,000
782.000
40.000
62.000
64,000
$272,000 $2,315,000
$215,000
33.000
95.000
103,000
$269,649,141’
$2 039.863
3,520.710
Amount outstanding January 1,1888*__
1,480,907
$268,168,234.
$4,567,852
3,390,664
$101,785,322"
1,177,188
Amount on deposit to redeem national bank
notes January 1 , 1888.............
$102,962,510*1
—-----------------------— --- ----------------------------♦Circulation of national gold banks, not included above, $230,641.
According to the above, the amount of legal tenders on«
deposit January 1 with the Treasurer of the United States toredeem national bank notes was $102,962,510. The portion of
this deposit made (1) by banks becoming insolvent, (2) bybanks going into voluntary liquidation, and (3) by banks re
ducing or retiring their circulation, was as follows on the first:
of each of the last five months :
Deposits by—
Sept. 1.
Oct. 1.
Nov. 1.
$
$
790,536
829,786
8,059,788 7,913,748
$
958,902
7,792,493
Tnsolv't bks.
Liquid’g bks.
R ea’o’g uudr
act of ’ 74.* 95,217,191 93,977,287 93,834,812
Total......... 104067515 102720821 102586207
Dec. 1.
Jan. 1.
$
$
879,949
8 5 1 / 32"
7,536,390 7,443,08693,369,883 94,668,392
■Iv/JL/
102962516
Act of June 20,1874, and July 12, 1882.
Coinage b y U nited States M ints .— The following state
ment, kindly furnished us by the Director of the Mint, shows«
the coinage at the Mints of the United States during the month«
of December and for the year 1887 :
December.
Denom ination.
Pieces.
Year I8S7.
Value.
Consisting o f—
Date.
to
January 1.—The Comptroller of the Currency has furnished,
us the following, showing the amounts of national bank notesDecember 1, together with the amounts outstanding January
1, and the increase or decrease during the month; also the.
changes in legal tenders held for the redemption of bank,
notes up to January 1:
Double eagles__
Eagles..................
Half eagles..........
Three dollars.......
Quarter eagles...
Dollars..................
»8 ,0 1 0
»4,035
6,060
6,200
7,»45
260,307
Standard dollars.
Half dollars........
Quarter dollars..
2,785,200
D im es......................
Total silver.
Included in the above payments were $11,500 in silver Pive cents..
Three cents.
coin, chiefly standard dollars.
One cent___
Value.
$
283,121 5,662,420»
8 70,68 i> H,706,80G*
1,012,087 9,560,4356,160
18,480
6,282
15,7058,543
8,543
43,057
Total g old .........
Pieces.
2,453,040
3,086,873 23,972,383-
10,200
3,083,048
2,785.200 33,611,710 33,611,710
2,000
5,710
2,855
Q
2,550
10,710
308,305 15.738,383 I .
573Ì839
5,883,618
3,098,655 49,366,519 35,191,082:
5 / OO
2.709.900
5,900
7.529.900
135,495 15,263,652
177
7,961
75,299 45.226,483
763,183:
233
452,264,
G overnment R evenue and E xpenditures . —Through the
Total m in or..
10,245,700
210,971 60,498,096 1,215.680:
courtesy of the Secretary of the Treasury, we are enabled
Total coinage.
16,389,653
5,762,660 112,951,488 60,379,151
to place before our readers to-day the details of Government
receipts and disbursements for the month of December.
B onds H eld b y National Banks.—The following interest
From previous returns we obtain the figures for previous ing statement, furnished by the Comptroller of the Currency,,
months, and in that manner complete the statement since the shows the amount of each class of bonds held against national
beginning of the fiscal year for 1887-88 and 1886-87.
bank circulation and to secure public moneys in national bank;
depositaries on Jan. 1. We gave the statement for Dec. 1
1887.
1886.
Receipts.
in Chronicle of Dec. 3, page 737, and by referring to thafe
000s Omitted.
the changes made during the month can be seen.
Cus lnter'l Misc'ls Total. Cus- Tnter’l Misc’ls
toms. Rev’ue Sourc’t
$
July......................
August.................
September...........
October................
November............
December............
18,215
22,687;
20,799
19,590
15.742
15,420
9,768
10,850
10,442
10,829
9,881
10,002
?
2,882
2,081
2,619
3,414
3,505
3.038
toms. IRev’ue Sourc’s
30,815
35.618
33,860
33,839
29,128
29,0001
Total 0 months 112,459
Ordìnary.
Pen- Int. &
sions. Prems
r
$
%
*
J u ly ....................... 14,756 11.448 8,933 35.137
August.................. 10,948 16,500 1,269.' 28.717
S eptexber....... .,
O tober.............. J 22,429 2,329 12,047 36,805
N ovem ber...........
9,572 18,288
518 28,378
Decem ber............. 10,381
19 2.580 12.980,
68,080! 48,584 25,3k 142,017
$
2,258
2,439
2,141
3,301
3,418
2,747
1
9,480
9,990
9,460
9,479
9,531
9,544
$
29,837
33,022
31,687
29,538
28*080
28,623
107,355 57,534 16,304 181,193
1887.
Disbursements.
000s omitted.
% 1
17,899
21,193
20,080
16,758
10,087
16,332
lot al.
1830.
Ordi- Pen- Internary. sions.
est.
Total.
«
*
9,813 10,871
19,535 7,775
14,335 3,276
12,042
524
11,678 12.517
12,730 2,177
$
29,403
28,909
20,583
19,401
25.658
18.4S4
S
8,689
1,09»
2,922
6,895
1,463
3,577
TT. S. Bonds H eld Jan. 1,1888, to Secure —
Description o f Bonds.
Public Deposits
in Banks.
B ank
Circulation.
Total H eld.
$470,000
536,000
13,278^500
35,293,500
$131,500
3,256,000
68,955,05 ')
112,102,400
$601,500?
3,792,00082,183,550*
147,400,900*
$49,533,000
$184,444,950
$233,977,950*
3s, Act July 12,1882
Currency 6s...............
4*a per c e n ts ...........
4 per cents............
N a t io n a l B a n k s .— The
cently been organized:
following national banks have ro
3.827—
The Presque Isle National Bank, Maine. Capital, $50,000*
Charles P. Allen, President; A. H. Jenks, Cashier.
3.828—The California National Bank of San Diego, Cal. Capital, 150,_
0 ° ° - . William Collier, President; John W. Collins, Cashier.
3.829—
The First National Bank of Homestead, Pa. Capital, $50,000.
William H. Watt, President; Louis Rott, Cashier.
3.830—The First National Bank of Marietta, Ga. Capital, $50,000.
R. W. Boone, President; C. S. McCandlish, Cashier.
The First National Bank of Latrobe, Pa. Capital, $50,000.
80,213 87,140 25,145 14»,4tf8 3.831—
W. S. Head, President; Joseph C. Head, Cashier.
TH E
26
CHRONICLE,
New York City Banks.—The following statement sB. ws tne
îondition of the Associated Banks of New York City foi the
veek ending December 31, 1887:
3,832—The First National Bank of Somerset, Ky. Capital, $100,000.
J. M. Richardson, President; Robt. Gibson, Gashier.
The national hanking association known as “ The National Bank of
Western Arkansas, at Fort Smith,” and located in the city of Fort Smith,
Arkansas, has changed its title to “ The First National Bank of Fort
Smith.” Certificate authorizing change dated December 24,1887.
I mports and E xports for the W eek . —The imports of last
week, compared with those of the preceding week, show
an increase in both dry goods and general merchandise.
The total imports were $8,775,222, against $7,475,833 the pre
ceding week and $8,051,608 two weeks previous. The exports
for the week ended January 3 amounted to $6,025,868,
against $6,025,001 last week and $5,062,876 two weeks previ
ous. The following are the imports at New York for the
week ending (for dry goods) December 29 and for the week
ending (for general merchandise) December 3 0 ; also, totals
for the y e a r :
FOREIGN IM PORTS AT NEW YO RK .
I
1884.
F or Week.
Dry Goods .......
Gen’l mer’dise..
1885.
j
1886.
|
1887.
$1.933,714
5,552,493
$2,618,281
6,915,936
$2,349,325
6,615,734
$2,404,869
6,370,353
$7,486,207
$9,534,217j
$8,965,059
$8,775,222
Since Jan. 1.
Dry Goods........ $111,239,632 $100,542,360 $115,456,205 $121,743 445
Gen’l mer’dise.. 313,676,611 288,588,232 318,838,968 343,614 956
Total 52 weeks $424,916,243 $389,130,592 $434,295,173 $465,358,401
In our report of the dry goods trade will be found the im "
ports of dry goods for one week later.
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending January 3, 1888, and from January 1, 1887, to
d a te:
EXPORTS FROM NEW YO RK .
I
1885.
1884.
1886.
1
1887.
$6,306,721
$7,141,137, $6,025,868
For the week.... I $6,393,757
Prev. reported.. 1 330,514,006 321,550,522 313,844,641 304,974,297
Total 52 weeks. $336,907,763 $327,857,243 $320,985,778 $311,000,165
The following table shows the exports and imports of specie
at the port of New York for the week ending Dec. 31, and
since January 1, 1887, and for the corresponding periods in
1886 and 1885:
EXPORTS AND IMPORTS OF SPECIE AT NEW YO RK .
Exports.
Gold.
Week.
Great Britain............
France........... ...........
Germany.......... .........
West Indies...............
Mexico........................
South America...........
All other countries...
Total 1887...........
Total 1886.........
Total 1885...........
$ .. ..
19,000
5.000
1.000
Imports.
Since Jan. 1.
$149,871
36,649
968,101
2,680,190
500
2,498.648
645,112
$5,518,667
8,467,457
17,722,726
5,832,412
17,471
268,161
624,655
9 ........
107,907
1,054
7,490
6,655
Average Amount of—
Batike.
Week.
Im ports.
\t»ineeJan.\.
Great Britain.............
France........................
Germany....................
West Indies................
M exico.................... .
South America.
All other countries...
$381,722 $10,689,203
916,173
5,100
267.167
1,800
283,488
5,400
21,358
70,473
272.167
Total 1887...........
Total 1886...........
Total 1885...........
$394,022 $12,520,029
115,276 10,044,037
443,2181 16,000,060
Week.
\Siiice Jan.\-
$344
120,000
Ì ‘,Ì76
1,009
1,650
Circular
tion.
$303,924
122,216
182,539
573,700
75,507
228,496
641,152
$124,179 $2,127,534
2.157,245
26,227
2,028,235
14,259
O f the above imports for the week in 1887, $103,060 were
American gold coin and $1,707 Am erican silver coin. Of the
exports during the same time, $25,000 were American gold
coin.
Balances.
Receipts.
9
818,027
Dec. 31
Jan. 2
“
3
V
4
«
5
“
6
1,052,122
2,813,099
1,743,305
2,305,403
Total..
8.731.956
Payments.
Coin.
Gain Cert’s.
$
9
$
3,710,375 131,736,738 15,254,298
2,406,126
2,120,437
1,541,695
1,587,303
131,770,625 14,067,498
131,897,451 14,502,802
131,968,457 14,564,966
131,929,347 15,285,600
11,365,9361....................
’¿öjööö
87,300
522,600
262.500
*‘ 2*600
635.500
44,400
1,008,000
45,000
900,000
42,200
45,000
45.000
40,700
45,100
42ÒÌ2Ò0
444*000
45.000
98Ò',90Ó
37,600
8Ì‘,Ò0Ó
180,000
45.000
39.000
45.000
445.000
45.000
202,500
225.000
180.000
*67^500
45.000
45.000
45.000
127,400
41,500
180,000
45,000
* Fulton National Bank in liquidation ; no report.
Boston Bank s.—Following are the totals of the Boston banks:
L .T ’nders. Deposits.* Circula’n.
9
s
$
9
$
7,309,800
Dec.17 138.308.000 8.433.900 3,368,100 104,316,600 7,118.300
“ 24 137.880.000 7.969.900 3,506,200 101,704,500 7,042,700
“ 31 137.509.000 8,039 600 3,650,300 103,351,800
1887.
Specie.
Loans.
Agg.OPnga
s
87,196,652
73.423,122
60,287,191
Philadelphia Banks.—The totals have been as follows:
1887.
Dec. 17......
“ 24......
Jan. 2......
Loans.
$
86.053,200
86.620.700
86,219,800
Circula’n Agg.Cl’ngS
Lawful Mon’y Deposits.*
$
21,499,100
21,182,200
22,128,700
$
2.312 750
2.312 230
2,311,250
9
83,391.000
82,552.700
83.550,200
$
62,697,195
61,405,963
49,565,210
«Inc u ’ ing the item “ due to other hank« ”
aud ffia a n cta l.
H A R V E Y
F IS K
&
b a n k e r s
28 N ASSAU
street,
SONS,
,
N E W YORK.
ACCOUNTS of BANKS, BANKERS, CORPORATIONS, Merchants
and individuals received subject to demand draft. Interest allowed on
$
balances.
9,501,283
Our business in this department is steadily increasing. Many having
9,360,193 funds awaiting investment find it a convenience to let them lie with us
9,490,724 drawing interest while deciding upon what securities to buy.
9,559,174
9,595,751
WM. EDWARD COFFIN.
WALTER STANTON
C O F F I N
&
S T A N T O N ,
BANKERS,
Shares.
1 Union Ferry C o............... 162
90 Nat. City Bk., Brooklyn.. 347
36 Second Ave. BR. Co.......110
30 Mechanics’ Bk., Br’klyn 230
61
North River Fire Ins. Co. 100
20 Brooklyn Bank................ 14542
Bonds.
30 Flatbush Gas Light C o.. 91
$34,000
Montgom. & Florida
20 Knickerbocker Ice C o. . 100 *8
RR. Co., 1st, 6s, Gold . 10
6 Flatbush Plank Road Co. 75
$5,000 42d St. Manhat. & St.
500 Hastings & Dakota RR.
Nicholas Ave. RR., 1st,
Co., Pref.....................
39
6s, 1910.............. 107*2 & int
2 Bank of New York.......... 222*2
260,000
Currency.
A uction Sales — The following were sold this week at
auction by Mt ssrs. Adrian H . Muller & Son :
Shares.
46,000
Total................... (356,540"000 71,139,300 27,259,800 359,359,800 8,077,300
U nited States Sub-Treasury.— The following 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 :
Date.
$
46,000
9,£60,000
10.891.000
6.708.400
6.979.000
10.4S8.800
3.078.000
8.419.400
2,251,300
New Y o r k .........
Manhattan Co____
Merchants’ . . . . . . . .
Mechanics’. . . . . . . . .
America.................
Phenix...................
City........................
Tradesmen’s ... ....
»F ulton...........
Chem ical___ ____
Merchants’ E xch.
Gallatin N ational.
Butchers’ & D rov.
Mechanics’ & Tra
Greenwich........... .
Leather Manuf’rs.
Seventh Ward
State of N . Y ......
Americ’n E xch’ge.
Commerce........ .
Broadway..............
Mercantile.
Pacifio.....
Republic...............
Chatham...............
Peoples’. . . . . . ........
North Am erica. ..
H anover...............
Irving...................
Citizens’ ..... ..........
Nassau........ T____
Market & Fulton.
St. N icholas___ _
Shoe & L eather...
Com E xchange...
Continental______
Oriental.................
Importers’ & Trad.
Park
North R iver
East R iver..
Fourth N ational..
,Central N ational.,
-ecohd N ational..
Ninth N ational....
First N ational.......
Third N ation al....
N. Y. Nat. E x ch ...
Bowery
N. Y . County........
German.Americ’n
Chase N ational___
Fifth Avenue........
German E xch’nge
G erm a n ia ...........
Cnited States........
Lincoln..................
Garfield.................
Fifth National......
B’k of the M etrop.
West Side..............
Seaboard ..............
Sixth N ational__
Western N ational
$25,000 $6,979,071 $123,106 $38.451,549
44,740 37,665,474 5,215,037 36,599,542
8,543,022
25,732
805,728 15,917,008
Exports.
Silver.
Since Jan. 1,
Week.
[V o l . X . V I.
11
W ALL
STR EET, N EW
YORK,
NEGOTIATE
State, m u n ic ip a l, R a ilro a d , W a te r a n d Gas B o n d s.
MONEY ADVANCED ON MARKETABLE SECURITIES.
u a r y 7, 1838. J
3P *e
1 BE
Ip a n fe m '
í
HRONICLH
(& ? l z z í í z .
DIVIDENDS«
The following dividends have recently been announced :
P er
Cent.
N a m e o f C om p a n y.
R a ilr o a d s .
Atch. Top. & Santa Fe___(quar.)
Boston & Albany...............(quar.)
Canadian Pacific......... . ...............
Georgia RR. & Banking., (auar.).
Iron..................................................
Little Schuylkill.............................
Mine Hill & Schuylkill Haven__
N. Y. Cent. & Hud. River.(quar.).
Panama Railroad...........................
Paterson & Hudson... ...............
Paterson & Ramapo......................
St. Louis Vandalia & Terre Haute
B anks.
'Saint Nicholas National................
United States National. ..(quar.).
In su ran ce.
'Citizens’ ...........................................
Empire City...............................
Piremens’ .I................. ..............
Globe............... ......................
Peoples’ ___, ............................
Rutgers....................................
United States..................................
W hen
P aya ble.
B o o k s Closed,
( D a ys inclusive.)
Feb.
.Jan.
15 Jan. 11 to Jan 22
2 ........................
Jan.
Jan.
Jan.
Jan.
Jan.
2 to Jan. 14
1%
2
1%
1
2%
2ig
31«
1%
1
6
4
4
3
15 Jan.
10
13
16 Jan.
16 Jan,
Jan.
Jan.
4
Jan.
4
Febru’ry
3
2
Jan.
31«
31«
3
5 5
5
5
Jan.
4 to Jan. 16
1 to ----------5 to Jan. 16
3 Dec. 28 to Jan.
2
9
W A L L ST R E E T , F R ID A Y , Jan. 6, 1 8 8 8 -5 P. M.
The Money Market and Financial Situation.—The year
•opens with a very dull market at the Stock Exchange, but
without any cloud on the financial horizon except the Reading
«trike.
A gentleman who has been on the markets for over thirty
years, and a close observer of their various phases, predicts now
a more active movement in stocks. He bases this opinion on
the circumstance that speculations have recently culminated in
several kinds of merchandise with large profits to those en
gaged in them. Since the summer months, wheat, corn, cot
ton, petroleum and metals have absorbed much attention and
yielded handsome profits on the bull side until there is no
longer much inducement to operate in them. Stocks in the
meantime have been very dull and prices generally depressed,
while the railroad earnings have been large beyond precedent.
Hence, he argues, there is every reason to suppose that the at
tention of speculative capital will soon be turned towards
«tocks.
Whatever the result may be, this argument seems to
be worthy of some consideration as the opinion of a veteran
on the markets.
The week has presented nothing of particular interest; no
important defaults on railroad bonds occurred the first of
January, and the Reading and Jersey Central properties were
returned to their owners—their respective receivers being dis
charged by previous order of* the Court.
The highest price paid for a N. Y. Stock Exchange seat in
1887 was $30,000, and to-day the C h r o n ic l e reports member
ships of the various Exchanges as follows: N. Y. Stock Ex
change, $18,000; N. Y. Consolidated Stock and Petroleum,
$1,000; N. Y. Produce, $1,700; N. Y. Cotton, $1,400; N. Y.
Coffee, $600; Real Estate Exchange and Auction Room, $1,065;
Boston Stock, $15,000; Philadelphia Stock, $3,500.
The open market rates for call loans during tne week on
stock and bond collaterals have ranged from 3 to 6 per cent,
and to-day the rates were 4@5 per cent. Prime commercial
paper is quoted at 5£@6£ per cent.
The Bank of England weekly statement on Thursday showed
a gain in specie of £245,000, and the percentage of reserve to
liabilities was 38’09, against 43*11 last week; the discount
rate remains unchanged at 4 per cent. The Bank of France lost
14,450,000 francs in gold and 7,350,000 francs in silver.
The New York Clearing House banks in their statement of
Dec. 31 showed a decrease in surplus reserve of $477,250,
the total surplus being $8,559, ¿50, against $9,036,400 the pre
vious week.
The following table shows the changes from the previous
week and a comparison with the two preceding years in the
averages of the New York Clearing House banks:
1887.
31.
D ec.
D iffr’ nc’s f r ’ m
P re v . W eek.
1886.
31.
D ec.
1886.
2.
Jan.
$
$
$
$
Loans and disc’ts. 356,540,000 Inc .6,130,500 343.687.500 339,909,800
Specie.................... 71,139.300 In c. 806,500 82,718,100 89,721,100
Circulation...........
8,077,300 In c .
10,700
7,911,500
9,979,800
Net deposits......... 359,359,800 Inc .7,513,400 359,v68.600 376.959.300
Legal tenders....... 27,259.800 I n c . 594,600 19,370,400 28.808,200
Legal reserve....... 89,839,950 Inc. 1,878,350 89,817,150 94,239,825
Reserve held........ 98,399,100 Inc .1,401,100 102.088.500 118.529.300
Surplus..................
8,559,150Dee. 477,250l 12,271,350 24 289,475
27
Exchange.—Sterling exchange has been n ore a 'live the past
week, the demand having been somewhat brisk on account of
interest and dividend remittances. Rates have consequently
ruled strong all the week, especially the 60-day rate, which
was advanced lc. by some drawers but only ^c. by others.
Posted rates to-day are 4 84 and 4 87. Commercial bills have
been in limited supply, and this fact has somewhat assisted
the advancing tendency of rates.
To-day the rates on actual business were as follows, viz.:
Bankers’ 60 days’ sterling, 4 83£@4 83|; demand, 4 86^@4 86f.
Cables, 4 86f @4 87.
Commercial bills were 4 82 @4 82£;
Continental bills were: Francs, 5 23f@5 24f and 5 21£@
5 21£; reichmarks, 94J@95 and 95|@95 7-16; guilders, 40@
40| and 40J@40f.
The following were the rates of domestic exchange on New
York at the under-mentioned cities to-day: Savannah, buying
i discount; selling
discount@par; Charleston, buying 3-16
discount ; selling par; New Orleans, commercial, $1 25@$1 50
discount; bank, par; St. Louis, 90c. premium; Chicago, 25c.
premium.
The rates of leading bankers are as follows:
Jan u a ry
6.
Sixty D ays.
D em a n d .
Prime bankers’ sterling bills on London..
4 84
4 87
Prime com m ercial............. ..................... 4 82% ib\ 82%
Documentary commercial............ ............. 4 81% >14 82
Paris (francs)..................... ....................... 5 23%» 5 23% 5 21 % »5 20%
Amsterdam (guilders)................................
401 X6@ 40% 40% <»40Bi8
Frankfort or Bremen (reichmarks)..........
95 @ 95%
9538^95%
Coi ns.—The foil owing are quotations in gold f or various coins :
Sovereigns............ $4 83
Napoleons............. 3 84
X X Reichmarks.. 4 74
X Guilders.......... 3 96
Span’ll Doubloons.15 55
Mex. Doubloons.. 15 55
Fine gold bars__
par
* Now demonetized.
@$4 86
@ 3 89
@ 4 80
@ 4 OO
@15 70
@15 65
@%prem.
Fine silver bars.. — 96%®
96%
Five francs.......... — 93 @ — 95
Mexican dollars.. — 75%@ — 76%
Do uncommerc’l — 75 @ ------Peruvian sols.......— 74 @ — 75
English silver.... 4 77 @ 4 85
U. S. trade dollars*— 74 @ . . . . . .
United States Bonds.—Government bonds have been dull
and featureless during the past week, and prices, though
slightly weak, have not changed to any great extent.
The closing prices at the N. Y. Board have been as follows:
Interest
P eriod s
D ec.
31.
;
4%s, 1891........... reg. Q.-Mar.
J
4%s, 1891........ coup. <3.-Mar.
4s, 1907...............reg. Q.-Jan.
w
4s, 1907............coup. <3.-Jan.
o
6s, cur*ey,’95___reg. J. & J. tP
6s, cur’cy ,’ 96___reg. J. & J. p
6s, cur’cÿ, ’97__ reg. J. & J. *4
6s, cur’ey, ’9 8 __ reg. J. & J.
6s, cur’ cy .’99___reg. IJ. & J.
* This is the price bid at the morning
Ja n .
2.
Jan.
3
Jan.
4.
*107% *107%
;
*107% *107%
125%
W *125%
* 25% *125%
o
*119
*119
9pi) *121 *121
V
*123 *123
J *125 *125
; 1*127 1*127
board; no sale was
J an.
5.
*107%
107%
‘ 125%
126
‘ 119
*121
*123
*125
*127
made.
Jan.
6.
*107%
*107%
126
*125%
*119
*121
*123
*125
*127
State and Railroad Bonds.—State bonds have not been
specially active, and there is nothing new to report in regard
to this market. As usual of late, the business has been
divided among a number of classes, each of which has had
moderate transactions.
The demand for railroad bonds is reported to be good, and
they have been more active, relatively, than stocks. This has
not been a speculative activity and not confined to the lowpriced bonds, but it has the appearance of being a healthy
inquiry for investments. There has been no special movement
in any particular class, the business having been well distrib
uted over the list. Prices have ruled strong and the tendency
has been upward, though without any sharp or important
advance.'
Railroad and Miscellaneous Stocks.—The business in the
stock market continues dull and uninteresting, and again it
turned principally upon the news in regard to the Reading
strike. Reports have been somewhat varying, and notwith
standing the softened statements that it is not likely to affect
the Reading Company seriously, the strike still continues and is
a source of uncertainty in the market. Business has been
largely confined to local traders, and fluctuations have been
governed almost entirely by their operations.
The tone
of prices has been irregular, and although some weakness
has been apparent in certain stocks, very little decline has
taken place.
Weakness has generally been followed by
renewed strength, operators appearing eager to take the small
profits accruing from the declines by purchasing to cover late
in the day. Reading has naturally again been very prominent
in the speculation, and the other coalers have attracted some
attention, especially Lackawanna, which has generally been
quite strong, selling ex-dividend at the opening of Thursday.
There has been some bearish talk from Chicago, where rate
cutting has been persistently reported, affecting the grangers
slightly, though on the whole creating very little impression.
Outside of these facts there have been no prominent features
and the week has been a decidedly quiet and unimportant one.
28
THE
CHRONICLE
[Toil. XLVr-
STOCKS—PRICES AT N. T. STOCK EXCHANGE FOR WEEK ENDING J A N . 6, AND SINCE JAN. 1, 1888.
□E8T AND LOWEST PRICES.
10*2 *10*4 10*2
62*4
56*8 55*2 56%
76*8
76*2 76
32*4 32*4
4*2
*3
4*2 *3
7
7
7%
*7
*5
6
*5
5*2
129 129% 128 128% 128 128*2
74% 74*2 75%
74% 757s 74
113 113
112*2 112*2 113 113
106% 107% 106*4 107*8 106% 107%
*139 141 *139 140*2 *139 140
112*2 1 1 2 % 112 112 78 112*2 1 1 2 %
13% 13%
13
14
*37*a 39*2 38*2 38*2
39
39*2 39*2
39*4 39*4 39
105% 105%
54
*51
*51
54
55
*53
23
24*4 24*4 24%
129*4 130
129*4 130*4 Xl28*3l28*2
22*4 22*4 22% 22%
53*8 53*8
10*8 10*8 10*8
10
10*4 10
62
62
61
61
*65
22
21*2 21*2 21*2 21*2 22
*86
88
*88
89*2
46*4 44
45*4
46% 46% 45
8%
8*4 8*4 *8
118 118*2 117*2 117*2 117 117
15
15
*13
*13
14*2 *13
10 %
62*4
55%
75
10 % 10*4
62*4 *62
56*4 55*2
75*2 75*2
*14*2
45*8
94%
*89*2
61
*35
*93*2
15*4
45*2
95
91
61%
40
97
*14*2
45*4
94%
*89
60%
*35
*93
15*4 15*4
45*4 *45
94% 94%
91% 91
61*4 61
*35
40
94
96
87*4
87*4
* 87*4 81 * 87*4 81
*........ 103*2 *........ 103*2
6*2 6*2
5*2 5*2
*14% 17
18
18
17% 18
89% 88
89%
89
*9
*9
10
9%
*75
*76
77
77
Xl07*2l07% 107 107%
*16*4 17*4 16*2 16%
67*2 67*2 66% 67
*
34
31*2 32
28
28*8 * 27% 28%
64
37% 36*2 37*4
37
17
17
16% 16%
*8% 9 4
8% 8%
30
*29
30
*29
16
*16
16%
16
427s 43*8 42% 42%
22*2 22*2 22*4 22*4
46% 46% 45% 46
*24
24*2 23% 23%
21*8 21*4 20% 21
22% 22% 22*2 22*2
64% 65% 64*4 65*4
22% 23*8 22*8 22%
84% 85 . *84
37*4 *35*2
*71*2 72*2 71%
*112*2 114*2 *112
62*2 62*2 *61
100*8 100*8 *100*2
111*2 111*2
25
25*4 24%
57*8 58% 57
16
16
15*4
28*4 28*4 28
44% 45% 46
*
Friday.
Jan. 6.
*10*4 10*2
10*2 Jan.
700 io 14 Jan.
61
61%
130| 61 Jan.
62*4 Jan.
56
56%
6,530 55*2 Jan.
563s Jan.
4,700 75 Jan.
76*4 76%
76% Jan.
32
32%
445 32 Jan.
32% Jan.
*3*4 4*2
7%
7%
310 7 Jan. 4
’% Jan. 6
*5
5*2
127*2 128
2,132 127*2 ían. 6 12934 Jan. 3:
75*4 76*8 :
74 Jan. 4 76*ë Jan. (>•
113*2 114*8 1,296 112*2 Jan. 4 114*8 Jan. (>•
107*2 108*4 18,220 106*4 Jan. 4 108*4 Jan. G
140*2 141
40 140*2 Jan. 6 141 Jan. 61 1 1 % 112 %
2,027 1115g Jan. 6 112% Jan. 4
14
600 13 <4an.
14*8
14*8 Jan. 6~
38
38%
400 38 Jan.
38% Jan. ; G
39% 39%
1,330 39 Jan.
39% Jan. G
125 105% Jan.
105% Jan. 4
54
*51
24
24
1,010 23 Jan.
24% Jan. 564,780 128*2 Jan.
129*8 130
130*4 Jan. 4
23
23
300 22*4 Jan.
23 Jan. G
100 53*8 Jan.
53*8 Jan. 4
10
10
1,156 10 Jan.
10*4 Jan. 3;
63
*60
516 61 Jan.
62 Jan.
22% 22%
375 21*2 Jan.
2238 Jan.
*86
88*2
44*8 44*8 1,643 44 Jan.
4638 Jan.
8% 8%
200
8% Jan.
8*4 Jan.
634 116*2 Jan.
116*2 116*2
118*2 Jan.
*13
14*2
15*4 15
45*2 45*2
95% 95
91
91
62
62*4
40
*35
94
95
500 15 Jan.
15*4
800 45*8 Jan.
45*2
95%
9,710 94®g Jan.
91
: 46 91 Jan.
62% 15,965 6078 Jan.
40
95
445 94 Jan.
87
87
86*2 87%
79
79
*78
80
104*2 104% 104 104
7
7*2
*6*2 7%
*16
16
16
18*4 18% 17% 18
87% 88% 88*4 89
9%
9%
77
77%
76
76
107% 107*4 107*2 107%
16% 17
*16*4 17
70% 70%
68
68
33
*31
32% 32*4
28
28*4 28*4 28*2
36%
17
«8*2
29*2
16*4
43
46*2
23
20%
22%
64%
22%
84%
85
36*2 35%
71% 71%
114*2 *112
63
61*2
102 *100%
109%
25
25%
57% 57*4
15*4 *15
28
28*4
49*2 48%
35
36
35%
35
75% 75*2 75% 75%
103% 103% 104*8 104
47
45*4
90
89%
36
35% 35% 35*2
io i
101
102
140% 140% 140*2 140% 140
77% 77*2
77*4 77% 77
36
75
103
*46
90
35%
37% 37*4 38%
17
17*4 17%
9%
9%
9
30% 30% 31%
16*4 *15*2 16*2
43% 42% 43
*22*a 23
47*4
47*4 47
23*2 23% 24%
2 1% 2 1 % 2 1%
22% 22% 22%
65% 65*4 65%
23% 22% 23*4
55
55
84% 84*2 84*2
35%
35%
36*2
71% 71% 71%
114*2 113% 114
62
61*2 62
101 101
103
110 % 110 %
110
25% 25*4 25*2
57% 57% 58%
16
*15*4 16
28% 27% 28%
50% 52%
51
35% 35
75% *75
104% 104*2
45*4
89%
35% 35*4
102
141*4 140*4
78*2 77%
*140 145 *140
107 107% 106%
69
68% 69
*125 131 *126
36 Jan.
75% Jan.
106*8 Jan.
45*4 Jan,
90 Jan.
36 Jan.
102 Jan.
141*4 Jan.
78*2 Jan.
145
107
69
131
72
72
72*4 72*4 72% 72%
6
*3
5
*2
135*2 135*2 *130 140 *130 140
76
77*2 77*2 76
4
4
4
4
*3
4
6*4 6*4
*5*2 6*2
6*4 6*4
27
*20
26
*20
*70
83% 83% *70
85
85
*14*4 14% *13% 14% *14*2 14%
135 135
102% 103
*10*2 12
*13
15
8*2
88% 88%
27% 27%
28*8 29*4
29% 29%
90*8 95*2
*10*2
15*2
*9
33*2
*37
103*2
*10*2
15
10*4 10
34
34
*34
39
12
100
295
300
360
T23
340
403
613
1,200
33,855
110
900
3,80o
10144
235 106%
234 67
15129
Jan.
Jan.
Jan.
Jan.
100 72
4 1 4 4 ' Jan.
31 0 8 Jan.
41 69 Jan.
4 1 3 0 Jan.
Jan.
72% Jan.
165 135*2 Jan.
223 76 Jan.
4 Jan.
200
400
6*4 Jan.
135*2 Jan.
77*2 Jan,
4 Jan.
6*4 Jan.
4r
83% Jan.
4 83% Jan.
103% 103*4 103%
12
*10*2 12
15
10*4 10*2 1 1 %
36
35% 37*2
38
300 135 Jan.
496 102% Jan.
135 Jan.
103% Jan.
100 15 Jan.
3,245 10 Jan.
4,650 33*2 Jan.
15*2 Jan.
11% Jan.
37*2 Jan.
700 88*2 Jan.
605 26*2 Jan.
1,700 27*4 Jan.
89 Jan.
27% Jan.
29*2 Jan.
100
88*2 883)
27
27
27*4 28
26% 26%
28*4 29
9
*6
89
89
27
27%
29*2 29*2
29*2 29%
92*2 97
29 % 31*4
92%j 94%
12,850 29*2 Jan.
32
31
92% 94*4
*6
Jan.
1,470 35 Jan.
637 75 Jan.
7,562 103 Jan.
100 45*4 Jan.
152 89% Jan.
1,110 35*4 Jan.
36
320 101 Jan.
169 140 Jan.
140*4
78% 29,814 77 Jan.
1,200
3,405
905
171,460
19,266
35
76
106*8
72
*4
*135
*75
72
6
140
78
13,655
325
650
2,320
150
1,036
228
3,504
95
6^ 87*4 Jan.
79 Jan.
6 104*2 Jan.
7*2 Jan.
16 Jan.
18% Jan.
89% Jan.
9% Jan.
77% Jan.
107% Jan.
17 Jan.
70*8 Jan.
32*4 Jan.
28*2 Jan.
38*8 Jan.
173i Jan.
9% Jan.
31% Jan.
16*4 Jan.
43*8 Jan.
22*2 Jan.
47*4 Jan.
24% Jan.
21% Jan.
22% Jan.
65% Jan.
23*4 Jan.
55 Jan.
85 Jan.
36*2 Jan.
71% Jan.
114 Jan.
62*2 Jan.
101 Jan.
111*2 Jan.
25*2 Jan.
58% Jan.
16 Jan.
28% Jan.
52*2 Jan.
144
107
67
129
144
107
67
130
707 86*2 Jan.
50 79 Jan.
20 104 Jan.
450
5*2 Jan.
100 16 Jan.
810 17% Jan.
8,046 873s Jan.
100
9% Jan.
700 76 Jan.
3,171 107 Jan.
410 16*2 Jan.
175 6678 Jan.
250 31*2 Jan.
9,980 277s Jan.
15*4 Jan.
45*2 Jan.
95% Jan.
91 Jan.
62% Jan.
36*2 Jan.
16% Jan.
8% Jan.
29*2 Jan.
16 Jan.
425g Jan.
22*4 Jan.
457s Jan.
23 Jan.
205g Jan.
22*2 Jan.
64*4 Jan.
22*8 Jan.
55 Jan.
84*2 Jan.
35 Jan.
7134 Jan.
113% Jan.
61*2 Jan.
100*8 Jan.
1097s Jan.
24% Jan.
57 Jan.
15*4 Jan.
2778 Jan.
44% Jan.
*140 145
106%108
68
68
*126 130
* These are the prices bid and asked; no sale was made at the Board.
Range Since Jan. 1,1888=.
Wednesday, Thursday,
Jan. 5.
Jan. 4.
9
Ç?Ç19*9? Ç? Çi'V'Çi
Tuesday,
Jan. 3*
Ç>Ç) Ç?05WÇi Çi V?V*
A c t iv e R R . S t o c k s .
Atlantic & Pacific....................
Canadian P a cific.....____—
Canada Southern.....................
Central of New Jersey............
Central Pacific.........................
Chesapeake & Ohio.................
Do
lstp ref.
Do
2d p ref.
Chicago Burlington & Quincy.
Chicago Milwaukee & St.Paul.
Do
pref.
Chicago & Northwestern.......
Do
pref.
Chicago Rook Island APacific.
Chicago St. Louis & Pittsburg.
Do
pref.
Chicago St. Paul Min. & Oin..
Do
pref.
ClevelandOol.Cin.&Indianap.
Columbus Hocking V al.& Tol.
Delaware Lackawanna &West
Denver & Rio G., assessm’t pd
Do
pref.
East Tennessee Ya. &Ga. R’y
Do
1stpref.
Do
2d p r e f.
Evansville & Terre Haute....
Fort W orth* D enverCity....
Green Bay Winona & St. Paul.
Illinois Central........................
Ind. Bloom. & West., ass.pd..
Kingston * Pembroke.......... .
Lake Erie & Western.............
Do
do
pref.
Lake Shore & Mich. Southern
Long Island............................
Louisville & Nashville.......... .
Louis. New Alb. & Chicago..,
Manhattan Elevated, consol..
Memphis & Charleston.......... .
Michigan Central...................
Mil. Lake Shore & West..........
Do
pref
Minneapolis & St. Louis.......
Do
pref
Missouri Kansas & Texas. . . .
Missouri Pacific......................
Mobile & Ohio.........................
Nashv.Chattanooga&St.Louis
New York Central & Hudson
New Y. Chic. & St. L., new—
Do
lstp ref
Do
2d pref
New York Lake Erie & West’n
Do
pref
New York & New England..
New York Ontario & West...
New York Susq. & Western..
Do
pref
Norfolk & Western.................
Do
pref
Northern Pacific................
Do
pref
Ohio * Mississippi.................
Oregon * Trans-Continental.
Peoria Decatur & Evansville
Philadelphia* Reading.......
Richm’d * West P’nt Terminal
Do
pref
RomeWatertown & Ogdensb’j
Bt. Louis & San Francisco...
Do
pref___
Do
1st pref
Bt. Paul & Duluth.............
Do
pref.......
Bt. Paul Minneap. & Manitoba
Texas & Pacific, ass. pa id ...
Union Pacific..................... .
Wab. St. L. & P.,P. Com. repts
Do
pref
Wheeling & Lake Erie—
M is c e lla n e o u s S t o c k s .
Colorado Coal & Iron.......
Consolidated Gas Co........
Delaware & Hudson Canal..
Oregon Improvement Co___
Oregon Railway & Nav. C o..
Pacific Mail.......................
Philadelpnia Co., Nat. Gas...
Pullman Palace Car C o...
Western LTnion Telegraph...
E x p re ss S tock s.
Adams.................................
American............................
United States................ .
Wells, Fargo & C o.........
I n a c t iv e S t o c k s .
American Tel. * Cable Co___
Central I o w a ..........................
Chicago & Alton......................
Cinoin. Ind. St. Louis & Chic.
Cincinnati Wash. & Baltimore.
Do
pref.
Houston & Texas Central___
Marquette Hough. & On., pref.
Mexican central.....................
Morris & Essex........................
N.Y. Lack. & Western.............
Ohio Southern.........................
Oregon Short Line..................
Quicksilver Mining C o..........
Do
pref..
St. Louis Alt. & Terre Haute..
Bt. Louis Ark. & Texas.........
South Carolina....................
Whitebreast Fuel Co............
Columbus & Hooking Coal..
Tennessee Coal & Iron. . . . . .
V a r i o u s S t o c k s , A c . (Uni
Amer. Cotton Oil Trust.......
Pipe Line Certificates............. 87% 90
Monday,
Jan. 2.
çngi Ç\M ÿ! 059?§0
Saturday.
Dee. 31.
çtÇKÇltfk Ç5
STOCKS.
32
97
Jan.
Jan.
J a n i a b y 7, 18Í8.)
THE CHRONICLE
29
BONDS-LATEST PRICES OF ACTIVE BONDS AT N. Y. STOCK EXCHANGE, AND RANGE SINCE JAN, 1, 1888.
C losing.
R a ilro a d B o n d s.
D ec.
30
R a n ge sin ce J a n .
0
L ow est.
1.
b.
A tl. & P a c —W. D. in c.,6s, 1910 2638b.
81
Guar., 4s, 1937.........................
80 Jan. 81 Jan.
Can. South.—1st guar., 5s, 1908 107%b. 106
105*3 Jan. 106 Jan.
2 d ,5s, 1913.............................. »2 b.
, 92 % Jan. 92*3 Jan.
•Central of N. J.—1st, 7s, 1890.. 107i8b.
b. 107% Jan. 107*4 Jan.
112 b. 1 1 1 % Jan. 112*4 Jan.
113
Consol. 7s, 1 8 9 9 ..................
Convert. 7s, 1902................ . 112 b. 113 b.
Convert, deb. 6s, 1908......... 116 b. 97 b . ..................
98
General morr., 5s, 1987___ 100*3
98 Jan. 98*3 Jan.
Leu. A W.B.,eon.7s, 1909,as’nt 113 b. 113*
113% Jan. 113% Jan.
102
104
Am. Dock A Imp., 5s, 1921. ..
. 101*3 Jan. 102 Jan.
Central Pacific—gold 6s, 1898.. 116 b.
b. 113*2 Jan. 113*3 Jan.
San Joaquin Br. 6s, 1900.........
114% Jan.
Land grant 6s. 1890................ 102i2a. 102
102 Jan. 102 Jan.
Mori. 6s, 1936............. ............ 10318
102% Jan. 103*8 Jan.
■Caes. A O.—Pur. m. fund 6s, ’98
6s, gold, ser. B. 1908, coup, ofl 69 b
Exten. coup., 4s, 1986............ 68I2
*• 68% Jan. 68% Jan.
6s, currency, 19 1 8 .................. 22*4b,
. 22 Jan.
22% Jan.
Mort. 6s, 1911.......................... 91 b, 01 t>.
Ches. O. & 8o. W.—5-6s, 1911.. 103i2b
105 Jan. 105 Jan.
i‘0'2'
Chic.Bur. & Nor.—1st, 5s, 1926
102*3 Jan. 102*3 Jan.
Chic. Burl. & Q.—Con. 7s, 1903 113*2 128 b.
105
10378b,
Debenture 5s, 1913 ...............
104*3 Jan. 105*8 Jan.
94 »• 94 Jan.
94
Denver Divis., 4s, 1922.........
94*2 Jan.
•Chic. & East. Ill -C o n . 6s, 1934 1 1 2 *2b, 113 * 113 Jan. 113 Jan.
J.
Chic. A Ind. Coal B., 1st, 5s, ’36 98 b.
Ch.Mil.A St.P—lst,I.A M .7s,’97 118 b,
114*8 Jan. 115*2 Jan.
126i2b.
Consol. 7s, 1905...................
J 123*3 Jan. 124 Jan.
114 b. 111 *• 111*4 Jan 112 Jan.
1st, So. Min. Div.—6s, 1910.
1st, Chi. & Pac.W.Div—5s, ’21 104
101*3 Jan. 101% Jan.
Wifl. &Min. Div.—5s, 19 2 1... 102 b.
»• 100 Jan.
Jan.
99 *• 100 Jan. 100
Terminal 5s, 1914...................
100 Jan.
Chic. & N. W —Consol. 7s, 1915 13858b. 139 *• 139*3 Jan. 139*3 Jan.
127 b. 129 >• 129 Jan. 129 Jan.
Gold, 7s, 1902...............
120*sb.
Sinking fund 6s, 1929...
107 b. 109 *• i08 Jan. 108 Jan.
Sinking fund 5s, 1929..
Sinking fund debent. 5s, 1933 108 b. 108*
108*8 Jan. 108*4 Jan.
104 b. 105
25-year debent. 5s, 1909
95
95
. ^Extension 4«, 1926........
95 Jan. 95 Jan.
Chi. R. I. A Pac.—6s, coup. 1917. 134*8 131 V 131*2 Jan. 131*2 Jan.
10« %b. 1071
Exten. A col. 5s, 1934.......
107 Jan. 107*2 Jan.
Ch. St.P.,M. A O.—Consol. 6s. '30 11884 120
119% Jan. 120*8 Jan.
Ch.St.L. A Pitts.—1st,con. 5s, ’32 100 b. 100
123
O . C. C. A Ind.—Consol. 7s, 1914
123 Jan. 123 Jan.
. Gen. 6s, 1934........................... 109 b. 107 .
101
Col. Coal A Iron—1st, 6s, 1900.. 100
100 Jan. 101 Jan.
Col. H. Val. A Tol.—Con. 5s, '31 69 b. 71
70*2 Jan.
71 Jan.
Gen. gold, 6s, 1904.................. 71 a.
Denver & Rio Gr.—1st, 7s, 1900 118*2b. 119
•120 Jan. 120 Jan.
77
1st con. 4s, 1936 ..................... 79
76*2 Jan. 77*s Jan.
Den. A R. Gr. W .- 1st, 6s, 1911. 73 b. 7 3
Assented....................................
• 67% Jan.
67% Jan.
Den. So. Pk. & Pac.—1st, 7s, ’05
78*2 Jan.
78*3 Jan.
35
Det.Mac. & M.—Ld. gr. 3 *28,1911 34
34*3 Jan. 35 Jan.
36
& . TernV. A G. Ry.—Con.,5s, ’56 95%
95% Jan. 96 Jai .
®liz. Lex. & B. Sandy—6s, 1902 96*2b, 98
97 Jan.
98 Jan.
Erie- 1st. consol, gold, 7s, 1920 136 b 137 • 136 Jan. 136 Jan.
Long Dock, 7s, 1 8 9 3 __
llOifib. 111
•111 Jan. I l l Jau.
Con. 6s, 19 3 5..___________ 117 a. 117
97?
N.Y.L.E.AW—2d con. 6s, 1969 97%
97% Jan. 97% Jan.
80
^ t . W. ADenv. C. -1 st, 6s, 1921 79*2
79 Jan.
8o Jan.
“Gal.Har.A San. Ant.—1st, 6s, ’10 105 b. 105*
I c 6 Jan. 106 Jan.
106
2d M., 7s, 1 9 0 5 .......................
West. Division—1st, 5s, 1931.
2d, 6s, 19 3 1..........................
G r ’nB.W.ASt.P.—2dinc.8s,1911 31
30 Jan. 30*2 Jan.
Gulf Col.ASan.Fe—1st,7s, 1909 121*2b. 120
119 Jan. 120 Jan.
Gold, 6s, 1923........................... 96*2a. 96*
96% Jan
96*3 Jan.
Henderson Br.Co.—1st. 6s, 1931 108*2b. 108
Jan. 108*2 Jan.
II 41. 108*s
H . & Tex. C.—1st M. L. 7s....... 114
114*4 Jan. 115*2 Jan.
I
l
i
j
3
1st, West. D., 7s, 1891............ l l 2%b.
114*2 Jan. 114*2 Jan.
112 % 112% Jan. 112% Jan.
1st,Waco & N. 7s, 1903...........
109*
2d, consol. M. L. 8s, 1912___
108*3 Jan. 108*3 Jan,
65
Gen. mort. 6s, 1921, tr. r e c ...
65 Jan.
65 Jan.
Cnd.BL A W.—lst,pret.,7s, 1900 112 b, 110
1st, 5-6s, 1909, tr. r e c ........... 85 b. 90
89*3 Jan. 89*2 Jan.
2d, 5-6s, 1909, tr. rec............. 71*2a. 72
...................
91
East. Div.—6s, 1921, tr. rec..
...................
Income, 6s, 1921, tr. rec....... " l 8 "b. 19
............ .
tnt. & Gt.Nor.—1st, 6s, gold,’ 19 109*2 1091
109 Jan. 109 Jam
Coupon, 6s, 1909..................... 76
75
75 Jan.
75*2 Jan.
Kent. Centr.—Gold 4s, 1987___ 71
69
69 Jan.
69 Jan.
Knoxv. AO.—1st, 6s, gold, 1925 92 b. 89*2
89*2 Jan.
89*2 Jan.
102
3L. Erie & W.—1st g., 5s, 1937.. 104
101*3 Jan. 102 Jan.
125*2 125% Jan. 125*3 Jau.
LakeSh.-Con.coup.,1st, 7s,1900 129
Con. coup., 2d, 7s, 1903.......... 122 b. 122*2 122*3 Jan. 122*3 Jan.
Long Island—1st, 7s, 1898........ 12012b. 120
.................
1st, consol., 5s, 1931............. 11212a.
I l l Jan. 111 Jan.
Lou. & Nash.—Consol., 7s, 1898 119*2b.
120 Jan. 121 Jan.
N. O. & Mobile—1st, 6s, 1930. I l l b.
108*8 Jan. 108*8 Jan.
2d, 6s, 1930..........................
97 b. 90
E. H. A N .—1st, 6s, 1919........ 113 b. 113
General, 6s, 1930..................... 110
110*
109% Jau. .10*2 Jau.
Trust Bonds, 6s, 1922........... 107%b. 109
108 Jan. 109 Jan.
10-40, 6s, 1924....................... 100 b. 100
Lou. N. A. & Ch.—1st, 6s, 1910. 114 a. 113
Consol., gold, 6s, 1916............. 91 b.
92 Jan.
92 Jan.
■Mem. & Ch’lston—6s, gold, 1924 102 b. 98*sb.
Metro. Elevated.—1 st, 6s, 1908
116
115*2 Jan. ;116*4 Jan.
2d, 6s, 1899.......... .................; 107 *2a. 105 %b. 105*4 Jan. L05*2 Jan.
Mich. Central—1st, con., 7s, ’02 127 b.
127 Jan. L27*s Jan.
Consol. 5s, 1902....................... 109 b. 110 *3b.
Miss’riPac.—1 st, cons., 6s,1920 I l l
I l l b.
Sd, 7s, 1 9 0 6 .......................... 119
119 b.
Pac. of Mo.—1st, 6s, 1888___ 102%b. 102 %b.
2d mort., 7s, 1891............... 108
N o t e —The letter “ b ” indicates price Ind, and “ a” price a s k e d ; all other
STATE
SECURITIES.
Alabama—Class A 3 to 5 .......1906
Class B, 5s............................1906
Class C, 4s........ .................... 1906
6s, 10-20................................1900
Arkansas—6s, funded.. 1899-1900
7s, Little Rock A Fort Smith, iss.
7s, Memphis A Little .Rock, iss..
7s, Arkansas Central JRR............
Georgia—7s, gold....................1890
Louisiana—7s, cons.................1914
Stamped, 4s............................
S»*ch1eran—7s....................... 1890
j Bid.
Ask.
107
C losin g.
R a ilro a d B o n d s .
H igh est.
D ec.
30
Jan. 6
R ange sin ce Ja n .
L ow est.
1.
H igh est.
Mil. Lk.Sh. & W.—1st, 6s, 1921. 120 b. 120*2a.
Ashland Div.—1st, 6s, 1925. ... 115*ab 117% 117 Jan. 1173s Jan.
105
Minn. & St. L.—1st, 7s, 1927___ 115
105 Jan. 105 Jan.
Imp. & Equip.—6s, 1922........ 52*ab 53 b. 53 Jan. 53 Jan.
Mo. K.ATex.—Con., 6s, 1920... 73%
71*3
71*3 .Ian. 73*4 Jan.
Consol., 5s, 1920...................... 63
61%b. 62*s Jan. 63 Jan.
Consol., 7s, 1904-5-6................ 106% 105*4 105*4 Jan. 106*3 Jan.
108*sb. 103*3 Jan. 108*s Jan.
Mobile & Ohio—New, 6s, 19 2 7.. 109
1st, Extension, 6s, 1927.........
42 b.
1 st pref. debentures, 7 s ..........
85 b. 84*3 Jan.
Mutual Un. Tele.—S. f., 6s, 1911
85*3 Jan.
Nash. Ch. & St. L.—1st, 7s, 1913 132 b, 130*sa. 128% Jan. 129 Jan.
N.Y. Central—Extend., 5s, 1893 104*4 104 *4b. 104*4 Jan. 104*4 Jan.
N.Y.C.&H.—1 st, op., 7s, 1903 136*3a. 1327sb .
Debenture, 5s, 19 0 4............ 108%b. 109
109 Jan. 109 Jan.
N.Y.AHar.—1 st, 7s, 1900....... 129 b. 129 b. 128*3 Jan. 128*3 Jan.
87
N.Y.Chic.A8t.L.—1st, 4s, 1937.. 86*4
86*4 Jan.
87 Jan.
N.Y. Elevated—1st, 7s, 1906___ 118*ab. 115 b. 117 Jan. 117*3 Jan.
125 b.
N. Y. Lack. & W.—1st, 6s, 1921.
107%b.
Construction, 5s, 1923.......... 108
N. Y. & Nor.—1st, 5s, 1927....... 101
10278 10238 Jan. 1 0 i7b Jan.
N. Y. Out, & W.—1st. 6s. 1914.. 108 b. 109*4b. 109 Jan. 109 Jan.
923s 91 Jan. 9238 Jan.
N.Y.Sus.AW.—1st ref., 5s, 1937. 92*2
1 1 0 b.
Midland of N. J.—1st, 6s, 1910
N. O. Pacific—1st, 6s, 1920........ 76 a. 75*s
75*3 Jan. 75*3 Jan.
ll* s b .
Norfolk & West. - Gen., 6s, 1931
North.Pacific—1 st,coup.,6s, ’21 118*4 116
115*3 Jan. 116*4 Jan.
104
Gen’l, 2d, coup., 1933............. 102
102 Jan. 104 Jan.
Spokane A Pal.—1st, 6s, 1936 101 a 101 a.
100
N. Pac. Ter. Co.—1st, 6s, 1933...
99% Jan. 100 Jan.
Ohio A Miss.—Consol., 7s, 1898.
114*3
2d, consol., 7s, 1911.......
11314b. 114 b. 114*3 Jan. 114*3 Jan.
Springfield Div.—7s, 1 9 0 5 ___
100
Ohio Southern—1st, 6s, 1 9 2 1 ... 100
99*3 Jan. 100 Jan.
2d,inc., 6s, 1921..............
31*3
3l*s Jan. 31*3 Jan.
Omaha A St. L .—1st, 4s, 1937.. 77 b. 75*3
75*3 Jan.
75*3 Jan.
94%b. 94*4 Jan. 94% Jan.
Oregon Impr. Co.—1st, 6s, 1910 94*3
Ore. R. ANav. Co.—1st, 6s, 1909 1 1 1 b. 110
110 Jan. 110 Jan.
Consol., 5s, 1925...................... 96*3
96*3
96*4 Jan. 96*s Jan.
94
regon ATranscon.—6s, 1922.. 93
93 Jan.
94 J an.
eo. Dec. A Evans.—1st, 6s, ’ 20. 108 b.
L06 Jan. 106 Jan.
106 a
Evansv. Div— 1st, 6s, 1920...
2d mort., 5s, 1927.................... 72
72*3b. 72
Jan.
72 Jan.
ich A All.—1st, 7s, 1920, tr. rec 57
ichm. A Dan.—Cons., 6s, 1915 111
109*4 10u*4 Jan. 109*3 Jan.
100 b 100 Jan. 100 Jan.
Debenture, 6s, 1927.................
117 b
117
113
Consol., 6s, 1922.
113 Jan. 113 Jan.
106
107 *4b 107 Jan. 107 Jan.
102
Consol., extend., 5s, 1922... 102
101% Jan. 102 .1an.
98
98
98 Jan. 98 Jan.
2d, income, 5s, 1925...............
t.L. Alt.A T.H.—1st, 7s, 1894. 114 b
2d, M., pref., 7s, 1894........
2d., M., me., 7s, 1 8 9 4 ..... .
103 a.
Dividend bas, 6s, 1894.......
4l*aa
983s 99*3 98 Jan. 99*3 Jan.
2d, 6s, 1936................ .
41 b, 42
4 0% Jan. 42 Jan.
t. L. A Ir. Mt.—1st, 7s, 1892... 109*3b 110
109*3 Jan. 110*3 Jan.
2d mort., 7s, 1897.................... 110 b, 110 b. 109 Jan. 109 Jan.
Cairo A Fulton—1st, 7s, 1891 108*3 105*3 105 Jan. 105*3 Jan.
Gen. Ry. A land gr., 5s, 1931. 92 a, 90*3
90 Jan. 91*3 Jan.
g
112 *sb, H3*3l>. 113*4 Jan. 113*4 Jan.
6s, Class B, 1906.................... . 112*41), 113*3 b.
6s, Class C, 1906...................... 112*4b I13*2b.
Gen’l mort., 6s, 1 9 3 1 ............ 114*3b. 112*3 112*3 Jan. 112% Jan.
Gen’l mort., 5s, 1931............... 102 b, 100*3 100*3 Jan. 100*3 Jan.
80. Pac., Mo.—1st, 6s, 1888... 103
100*8 100 Jan. 100*8 Jan.
8t. Paul M. A M.—1st, 7s, 1909. 112 b. 110 b,
2d, 6s, 1909.............................. 116*sb.
117 Jan. 117 Jan.
1st cons., 6s, 1 9 3 3 .................. 118 a. 114 b, 115 Jan. 115 Jan.
Do
reduced to 4*ss..
99 a.
8
92 a. 90 b
Gen’l mort., 6s, 1921.
36 a
8
96 b
96
2d, 6s, 1931...
72*3 a,
Inc., 6s. 1931.
13 b
g
110*3
111% Jan. 111% Jan.
g
g
108 %b. 1053s 105% Jan. 105% Jan.
ij !ex. A Pac.—Inc. A Id gr, 7s, ’15 48
47*3
47*3 Jan. 47*3 Jan.
Rio Grande Div.—6s, 1 9 3 0.... 66 b. 65*3
65*3 Jan. 66 Jan.
Gen. mort. A term., 6s, 1905..
61 a
1 'ol. A.A. A N. M.—1st, 6s, 1924. 89 b. 88
85 Jam 88 Jan.
J
102 %b. 101 b
T
80 b
I
95 b. 93 b 93*8 Jan. 93*4 Jan.
q
85 b. 91%
91*3 Jan. 91% Jan.
L
116*3 114
114 Jan. 114 Jan.
Land grant, 7s, 1887-9............ 102 b. 103 b
Sinking fund, 8s, 1893............ 116*3 119
118 Jan. 119 Jan.
Kan. Pacific—1st, 6s, 18 9 5.... 110*3b. 112
112 Jan. 112 Jan.
1st, 6s, 1896........................... 110
110 b. 110 Jan. 110 Jan.
Denver Div.—6s, 1899.........
1st consol, 68, 1 9 1 9 ............ 102
102*3 10i% Jan. 102*3 Jan.
Oregon Sh. Line -1st, 6s, ’22.. 100*3b 102
100% Jan. 102 Jan.
v
76*sb, 78
78 Jan. 78 Jan.
V
St.L. A Pac.—Gen., 6s, ’20 51 a 51 a. 45 Jan. 45 Jan.
Chicago Divison—5s, 19 1 0 .... 99
95*sb. 96*3 Jan.
97 Jan.
Wabash—Mortgage, 7s, 1909.. 90
80 b
Tol. A Wab.—1st, ext., 7s, ’90 112
107% 107% Jan. 108 Jan.
1st, St. L. Div., 7s, 1889....... 110
106*3b.
2d, extended, 7s, 1893......... 88
88 b. 88 Jan. 88 Jan.
Con., conv., 7s, 1907............ 90
80 b.
Great West.—1st, 7s, 1888___ 110
2d, 7s, 1893........................... 90 ■
; 88
88 Jan.
88 Jan
3t Shore—Guar., 4s.......... .! 10178 100
9978 Jan. 100*8 Jan
prices and the range are from aotual sales.
BONDS.
SECURITIES.
Missouri—6s.......due 1889 or 1890
109
Asylum or University, due 1892
100 105
Funding....................... 1894-1895
107
New York—6s, loan.................1892
20
6s, loan...................................1893
21
25
North Carolina—6s, old........... JAJ
22
1900
Funding act...............
15
New bonds, J. A J ___1892-1898
104*3 105*2
Chatham R R .„.............................
100
Special tax, Class 1 ....................
92
Consolidated 4s.......... ......... 1910
106
6s............................................1919
Bid.
Ask.
102
Rhode Island—6s, co u ..1893-1894 115
South Carolina—6s, non-fund. 1888
5
-Brown consolidated 6 s .....1893 106
Tennessee—6s, old........ 1892-1898
60
Compromise, 3-4-5-68...........1912 69
New settlement—6s..............1913 97
.5 8 ...« ................................... 1913
3s......................................... 1913 69
10
Virginia—6s, old............................ .
48
12
6s, consolidated bonds................
93%
6s, consolidated, 2d series..........
60
i.22
6s, deferred, trust rec................
8*3
107
115
118
35
10
20
95
118
SECURITIES.
Bid.
Asì
7
62
71
100
70
90
10
THE CHRONICLE,
8 0
GE N ER A L
QUOTATIONS
OF
STOCKS A N D
[VOL X L 'V I.
BONDS.
' eons.,]1,
■wiiouuuawju, wuv., Wi
-w* «*“ “ ‘ **0 i V7a.
nji a v --Quotations in New York are to Thursday; from other cities, to late mail dates.
S u b s c r ib e r s w i l l c o n fe r a fa v o r b y g iv in g n o t ic e o f a n y e r r o r d is c o v e r e d I n t b e s e Q u o t a t io n s .
U n it e d St a t e s B o n d s .
Bid. Ask.
Ci t y S e c u r i t i e s .
Bid. Ask.
Ci t y Se c u r i t i e s .
Bid. Ask.
Milwaukee, Wis.—5s, 1 8 9 1 ...J & D 100
Baltimore—(Continued)—
7s, 1896-1901..........................Var.t 107
6s, Park, 1890.......................Q—M 104
114
7s, water, 1902...........
J&J* 108
6s, bounty, 1893....................M& S
95
110
Minneapolis—4s,
1906-1916. Various 1 90
6s,
do exempt, 1893... M & 8
107
5s, 1893.............................. Variousl 100 105*«
5s, water, 1894.........................J&J
135
123
8s, 1886-1905, long.......... Variousl
6s, 1900.........................
J&J
124
4*28,1916.......................... Various) 100 105
6s, West. Md. RR., 1902 ....J & J
5s, 1916................................... M&N 126*2 127*2 Mobile, Ala.—3-4-5s, funded..J & J 71
75
111
Montgomery, Ala.—New 3s . . J & J 70
4s, 1920..................................... J&J
90 100
Bangor, Me.—6s. RR.,l890-’94.Var.1 102 * ' 106
5s, n ew ..................................... .
Nashville, Tenn.—6s, short............... 100
6s, water, 1905....................... J&JI 117 119
6s, long.............................................. 105
6s, E.&N.A. Railroad, 1894..J&J1 105 106
S T A T E S E C U R I T IE S .
6s, B. & Piscataquis RR.,’99.A&01 107 110 Newark—4s, long.............................. 102 103
Alabama—Class “ A,” 3 to 5 ,1 9 0 6 ... 104 107
4*28, l o n g ......................................... 104 106
Bath, Me.—6s,railroad aid.......Varl 100 103
Class “ B,” 5s, 1906......................... 108
5s, long.............................................. 110 111
5s, 1897, municipal......................... 101% 103
Class “ C,” 4s, 1 9 0 6 ....................... 100 105
6s, lo n g ................................... Var.1 119 120
Belfast, Me.—6s,railroad aid, ’98.. 1 103 105
6s, 10-20, 1900..................... J & J 103 108
Bos ton,Mass.—6s,cur,long,1905Varl 125 128
7s, lo n g ...._____ . . . . . __ ....Var.1 125 126
18
Arkansas—6s, funded, 1899 . . J & J
25
6s, currency, 1894.................. Var. 112 112*2 7s, water, long....................... Var. 1 126 128
7s, L. R. &Ft. S.issue, 1900.A & O 20
115
113*2
New
Bedford,Mass.—6s, 1909.A&Ot 125 127
22
5s, gold, long.......................... Var.1
7s, Memphis & L. R., 1899..A & O
5s, 1900, Water Loan........... A.&O 110 111
4*2S, 1908................................. A&O 106 108
7s,L. R. P. B. &N. O., 1900..A & 0 17
102
101*2
N.
Brunswick,
N. J.—7s, long........ 1 105
4s, currency, long.................... J&J
78,Miss.O. & R .R iv.,1 9 0 0 ..A & O 17
15
6s, long....................
......1 100
Brooklyn, N.Y.—
7s, Ark. Central RR., 1900. A & O
110
111
New Orleans, La.—Premium 5s — 13278 133*8
10
5
7s, 1890............................................
7s, Levee of 1 8 7 1,1900...¿.J & J
107%
103
Consolidated
6s,
1892.............
Var. 110*2 112
6s,
Water,
1891...............................
California—6s, funded debt of 1873"
126 127 Newport, Ky.—Water bonds 7-30s.J
6s, Water, 1899.........................
Connection—New,rg.,3*28,1904J&J* 101 104
121 123
152
154
New
York
City—5s,
1908..................1
100
6s,
Park,
1924.................................
New, reg. or coup., 3s, 1 9 1 0 ........*
6s, 1896 ............................................ 118 120
7s, Park, 1915......... ....................... 144 145
Dakota Ter. - 5s. 10-20s of 1887 . ... 105*2 Ì06
128 129
133
139
102
6s,
1
9
0
1
............................................
101*2
7s,
Bridge,
1902....................
........
4*ss, 10-20s of 1887.......................
7s, 1 8 9 0 ............................................ 107% 108
7s, Bridge, 1920.............................. 143 150
District of Columbia—
125
110
126
118
7s,
1
8
9
6
............................................
Buflalo,
N.
Y.—7s,1
8
9
5
........Var.1
Cons.3-65s,1924, op.................F&A 117*4
7 8 ,1 9 0 1 ............................... ............ 136 138
7s, water, long........................Var.t 132
117*4 118
Cons. 3-65s, 1924, reg...........
123
114
125
Nevrton—6s,
1905,
water
loan..J&J
6s, Park, 1926........................M&Sf
Funding 5s, 1899.................... J&JI 112*2
5s, 1905, water loan.................J&J 112 113
107
Cambridge, Mass.—5s, 1889.. .A&Ot 100 100*2
107
110
112
Norfolk,Va.—6s,reg.stk,’78-85..
J&J
110
6s, 1894. water loan............... J&J
8s, coup., 1890-93...................Var. 130
6s, 1896, water lo a n .............J & J 112 114
107*2
8s, water, 1901......................M&N 127
6s, 1904, city bonds............. J&J * 122 123
Fund. loan(Leg.)6s,g.. 1902Ÿarj 123
Norwich, Ct.—5s, 1907........ ...A&OI 111 113
87
111
Charleston, S.C.—6s, st’k,’76-98. .Q-J 84
Market stook, 7s, 1892........
7s, 1905.................................... J.&J 130 135
126
7s, fire loan bonds, 1 8 9 0 ....J & J
Water stook, 7s, 1901...........
108
Orange, N. J.—7s, long..................... t 115 120
129 136**
7s, non-tax bonds
do
7s, 1903...........
84
88
Oswego, N. Y.—7s, 1887-8-9............t 100
109 112
4s, non-taxable...
Paterson, N. J.—7s, lo n g ........... Va* 120 Ì25"
104
Chelsea, Mass.—6s, 1897,water loan! 112*2 114
115*2
6s, long.............................................. 110
106 106*2 Chicago, 111.—7s, 1892-99
113
5s, long.............................................. 106
6s, 1895..........................
Kansas—7s, long.........................J&J
105
105*4 106
4*28, long.................................. ...
100
4*28,1900.......................
Louisiana—New con. 7s, 1914
100
4s, long......................................... . 100 105
90*2 91
3-658,1902.....................
Stamped 4 per cent...............
110
112.
111
55
111*6 Petersburg, Va.—6s..................... J&J
54
Cook Co. 7s, 1 8 9 2 .........
105
8s........ ....................................... J&J 118
Cook Co. 5s, 1899..........
Maine—4s, 1888...................... F&A 100 100‘s
105 107
8s, special ta x .................................. 118
Cook Co. 4*28,1900.......
War debts assumed, 6s,’89.A& 01 L03 103*2
102
Philadelphia, Pa.—6s, 1886-’99 J&J 116 117
West Chicago 5s, 1890 .
Maryland—6s, Hospital, ’87-91 J&J 98
132
105
6s, new, reg., due 1900 & over. J&J
Lincoln Park 7s, 1895..
6s, 1890...................................Q—J 93
105
Pittsburg, Pa.—4s, coup., 1913.J&J. 103 104
105
West Park 7s, 1890—
3-65s, 1897.............................J&J
103
5s,reg. and coup., 1913........ J&J. 114 115
South Park 6s, 1 899....
Massachusetts—5s, gold, 1891. A&O 105 106
6s, gold, re g .........................
Var. 124
Cincinnati, O.—6s, 1897......M&N1 113
5s, gold, 1894......................... J&J 1 110 112
7-30s, 1 9 0 2 ................................I 129*2 130% 7s, water, reg.& cp.,’93-’98...A&0. 128
5s, gold, 1897......................... M&S 113 115
101%
103*4 5s, Refunded, 1912......................... 113 115
4s, 10-20...................................J&Jt
Michigan—7s, 1890..................M&N 107*8
4s,
do
1 9 1 5 ....— ......... — 105 107
131*2
Southern RR. 7-30s, 1 9 0 6 ...J&Jt
Minnesota—Adi. 4*28,1911,10-30.. 100 105
do
6s, g., 1906.......M&N 1 122 123*2 Portland, Me.—6s, Mun., 1895.Var.1 106 108
Missouri—6s, 1888...................J & J 100
123%
6s,
railroad
aid,
1 9 0 7 ...........M&S 119 • 121
110
do
Cur.
6s,
19
0
9....F&At
Funding bonds, 1894-95__ J & J
4s, fuaded, 19*2-12................. J&J 101 103
do
8kg. fd. 5s, 1910M&N t 114 115
Long bonds, ’ 89-90.............. J & J 102
104%
Portsmouth,
N.H.—6s,’93,RR.
J&J 1 106*2 108
107
Hamilton
Co.,
4s............
..1
Asylum or University, 1892. J & J
Poughkeepsie. N. Y.—7s,water long t 140
Cleveland,O.—7«. ’94, fd. debt.. A&O 115 116
New Hampshire—5s,1892......J & J 103*2 105
117
119
Providence,
R.I.—5s,
g.,i9
0
0
...
J&J 1 110 H I.
111
7s, 1896, canal......................... M&S
War loan, 6s, 1892-1894......J& J I 108*2
6s, gold, 1900, water loan..J & Jt 119 121
6s, 1898.....................................Var. 111 112
War loan, 6s, 1901-1905...... J & J 122 128
L
O
O
Rahway,
N.
J.—Old
7s..............
130
100*2
5s, 1887-89.................
Var.
New Jersey—6s, 1897-1902... .J&J* 120
75
85
New adjustment, 4s..............
Columbus, Ga.—7 s .................... Var. 110 112
_6s. exempt, 1896..................J&J 118 125
102
105
Richmond, Va.—6s, 1884-1914. J&J 119
5g
•■■■•••■
New York—6s, gold, 1891.......... J&J 110
8s, 1886-1909............................ J&J 139
Covington. Ky.—7-30s, lo n g ........... 1 no 112
6s, gold, 1892........................ A & O 115
5s, 1914-15......................
J&J IO-1*
Water Works, 1890................... ...1 105 107
6s, gold, 1 8 9 3 ......................A&O 118
95
4s.............................................. ..
4s, 1937, new..................................1 100 103
No.Carolina—6s, old, 1886-’98..J&J 35
no
Rochester, N.Y.—6 s .................. Var. UU
Dallas, Texas—8s, 1904....................
6s N. C. RR., 1883-5.......J & J-H 170
140
no
7s,
water,
1903...............
...J
&
Jt
115
140
10s,
1893-96....................................
6s
do
7 coupons o f f ___A&O
Rockland, Me.—6s, ’89-99,R R .. F&A 98 100
Water, 6s. 19 0 0 .............................. 100 103
6s, funding aot of 1866,1900 J&J 10
8t. Joseph, Mo.—Comp’mise 4s, 1901 86
Detroit, Mich.—7s, long............Var.1 120
6s, new bonds, 1892-8..............J&J 20
7s, water, long.................. ....Var.1 125 130 St. Louis, Mo.—6s, 1892...........Var.t 10 6 107
6s, Chatham RR ......................A&O
90
5s, long.....................
Var.t 105 108
12
Elizabeth, N. J.—New Is,1912.M&N 82
8
6s, special tax, class 1,1898-9A&U
5s, 10-20...................
Var.t 100 102
97
Evansville, Ind—7s, long. Various
4s, new, cons., 1910............. J & J 95
120
121
4s,
1905.................................
J&D.t
121
Fall River, Mass.—6s, 1904.. .F& A1
6s, 1 9 1 9 .................................A & O 118
St.L.Co.—6s, gold, 1905....... A&Ot ÎÏ8* Ì2Ò~
5s, 1894, gold......................... F&A 104% 105*4
Penna.—5s, new, reg., ’ 92-1902.F&A 114*2 115*2
92
St. Paul, Minn.—4s, 1912................. t 90
5s 1 9 0 9 . . . . . . . . . . . . . . . . . . . . . .F& At 111 113
4s,reg., 1 9 1 2 . . . . . . . .............F & A 120*2
4*28, 1 9 1 6 ..................................... | 100 104
Fitchburg, Mass.—6s. ’91,W .L.. J&J1 103 105
Rhode Isl’d—6s, 1893-4, coup..J& J 114
108
100
101
103
5s.
1915...........
—
7
Galveston, Tex.—8s,1893-1909.M&8
5
South Carolina—6s, Non-fund.,1888.
100 105
98
6s, 1889.........................................
5s, 1920................................ ...J&D 92
Brown con sols........................... . 104
62
7s, 1888........................................... 100 106
Hartford, Ct.—City 6s, var. dates..' 104 114
Tennessee—6s, unfunded.................. 60
126
128
110
71
Capito1untax,
6s.....
..............
69*2
Compromise bonds, 3-4-5-6s, 1912
Salem, Mass.—6s, ’ 98, W. L .Ä & 0 .. 115% 117
Hartford Town 4*ss, untax.......... 100 105
Settlement, 6s, 1913....................... 99 L05
112
110
5s,
1904,
W.
L...........................J&J
t
101*2
103
100
Haverhill,
Mass.—6s,
1889...
A&OI
Settlement, 5s, 1913.......................
111 113
Savannah funded 5s. consols............ 101*2 102
70*2 Hoboken, N. J.—5s, lon g........ .
Settlement, 3s, 1913....................... 69
116 117
Somerville, Mass.—5s, 1895..A&OI 10 i 106
6s, long............... ................
Texas—6s, 1892.......................:M&81 108 111
123 125
5s, 1905............................... ..A&Of 108 111
7s, long.....................................
7s, gold, 1892-1910............... M&S1 115
Springfield, Mass.—6s, 1905..A&Ot 121 123
45
Houston,
Tex.—10s...................
130
7s, gold, 1 9 0 4 ........................J&JI
45
7s, 1903, water loan..............A&Ot 130 135
6s, funded............................... .
Vermont—6s, 1890................. J & D
Toledo, 0.-7 -3 0 8, RR., 1900.M & N 1 115 117
Indianapolis,Ind.—7-30s,’93-9, J&JI 110
Virginia—6s, old, 1886-’9 5 ....J & J 48
8s, 1893-94..............................Var. 115 118
Jersey City—6s, water, long, 1895.. 104 106
6s, new bonds, 1886-1895.. .J & J 48
Washington, D.C.— See Dist. of Col.
7s, water, 1899-1902....... .....J & J 118 123
6s, consols, 1905. ex-coup.......J&J 39
Worcester, Mass.—6s, 1892... A&Ot 106 108
7s, improvement, 1891-’94.... Var. 107 112
6s, oonsol., 2d series.................J&J 60
5s, 1905.................................... A&O 111 113
7s, Bergen, long....................... J&J 116 118
8*2 10
6s, deferred bonds...........................
4s, 1905..............
A&O 101*2 103
32
Hudson County 5s, 1 9 0 5 .... .M&S 114
Tax-receivable coups.,from cons’ls
126
27
Hudson County, 6s, 1905.....J& J
Do
from 10-40s. 26
R A I L R O A D „B O N D S.
Hudson County 7s, 1894.......J&D 112
66*2
New3s (Riddleberger), 1932. J & J 66
(B on d s o f com pan ies con solid’ ted will
37
Bayonne City, 7s, lo n g ..........J&J 112
10-40s, cp. & reg., 3 to 5,1919.J&J 35
be f o u n d u n d e r the con sol’d nam e.)
Lawrence, Mass.—6s, 1894... A& Ot 111*2 112
C I T X S E C U R I T IE S .
Ala. Gt. Southern—1st mort., 1908 113 116
6s, 1900............................... ...A&O 119 121
Albany, N. Y.—6s, lo n g .... Variouet 115
Debenture scrip, 6s, gold, 1906.. 106 108
101
Long
Island
City,
N.Y—Water.7s,’95
138
7s long............................................ t
60
55
Ala. N. O. T. &c. 1st deb. 6s............
Allegheny, Pa.—5s, cp., ’ 87-97.. Var. 100 106 Louisville, Ky.—7s, long dates. Var.1 120 122
50
102
2d debent. 6s, 1907........................ 45
110
105
7s,
short
datesi.......................
Var.1
4*28, coup., 1 8 8 5 -1 9 0 1 ........ Var. 100
Alb’y & Susq.—1st M., 7s, ’ 8 8 ... J&J 101
6s, long.................................... Var.1 108 110
4s, coup., 1 9 0 1 . . . . ....... ........ Var. 105
135
Consol,
mort.,
7s,
1906,guar
.A&O
101
103
101
6s, short...................................V ar.'
Allegheny Co., 5s, cp., 1913.J&J§ 100
Consol, mort., 6s, 1906, guar.A&O 118 ......
5s, 1890-1900.......................... M&N 104 105
4s, n ot loan, 5-10s........................ 100 101
Ulegh. Val.—Gen. M., 73-10s.. J&J 1Itf
104*2 105
Lowell, Mass.—6s,1890, W. L.[
4s, riot loan, 10-20s..................... 100 101
East, exten. M., 7s, 1 9 1 0 .... A&O 110
Lynchburg, Va.—6s................ J & J 110
5s,
do
10-20s..................... 100 101
Income, 7s, end., 1 8 9 4 ..... .A&O 22
8s....................................... ,..J & J 128 130
4s, refunded. 5-20s, 1891-1906... 101 102
110
Ateh.
Top. &8. Fe—1st,7s, ’ 99 J&It 119 Ì19*à
111
,ynn,
Mass.—Water
loan,6s,
’9
____
110
Atlanta, Ga.—7 s .............................
Land grant, 7s, g., 1902 ....A&O* 117 117*a
Water loan, 6s, ’ 96.............
J&J 112*2 113*2
Do. 8s............................................ 108
Sinking
fund, 6s, 1911..........J&D* 105 I05*a
113
111*2
114
Waterworks...................................
Guaranteed 7s, 1909 .J&J&A&Ot 117 119
110 112
Augusta, Me.—6s, 1905, Fund. J&Ji 118 120 Macon. Ga.—6s.
97
106
5s,
1909
(1st mort.).............. A&Ot 95
108
Augusta, Ga—17 s.. . . ____— Variout 105
5s, plain bonds, 1920........... M&St 89*2 90
118 120
115 120
Austin, Texas—10s.................
96%
97
4*23,1920............................
A&Ot
101
100%
Baltimore—6s. consol., 1890..Q —J 104 104*2 4s, 1911
Florence & El Dor’do,lst.7s.A&Ot 108 H I
1 95 1100
[104
6s, Balt. & O. loan. 1890.......Q
U N I T E D S T A T E S B O N D S.
4*ss,1891..........................reg.. Q—M
4*«B, 1891......................co u p .. Q—M
4s, 1907........................... r e g .-.Q -J
4s, 1 9 0 7 ........................coup.. .Q—J
6s, Currency, 1895........reg— J&J
6s, Currency, 1896....... reg— J&J
6s, Currency, 1897........reg— J&J
6s, Currency, 1898........reg— J&J
6s, Currency, 1899........reg— J&J
107%
107*4
125*2
125*2
119
121
123
125
127
108*4
103*4
126*4
126*4
'Price nominal; no late transactions, t Purchaser also pays accrued interest. Jin London. § Part being redeemed.
Coupons on sin ce’ 69.
THE CHRONICLE.
January 7, 1888 J
GENERAL
F or
R a il r o a d B o n d s .
Q U O T A T IO N S
E x p la n a tio n s
Bid.
Ask.
OP
S ee N o te s
at
STOCKS
H ead o f
R a il r o a d B o n d s.
AND
F ir s t
31
B O N D S — C o n t in u e d .
P a ije o f ( ( n o t a t i o n s .
Bid. Ask.
Bid.
Cin. & Indianap., 1st., 7s,’92..J&D till
R a il r o a d B o n d s.
1,
Ask.
Atch. Top. & 8. Fe—(Continued) —
Ches. & Ohio—Pur. money fd.,1898 1075s
K.C.Topeka&W., 1st M., 7s,g. J&J t l l8 120
Series A, 1908.........
A&O 100*«
2d M..7s, 1887-92............... ..J&J 1110
do
income 7s. A&O 1113% 114*4
69
6s, gold, series B ...................M&N II 67
IndianapolisC. &L., 7 s o f ’97.. . 1117
N. Mex. &So. Pac., 18t,78,1909 A&O U17 118
Extended 4s, 1986............... M&N 65% 68
Ind’apolis
& Cin., lst,7s,’88.A&0 tioo 101%
Pueblo & Ark.V., 1st, 7s, g.,1903. U16 117
23
68, currency, int. def.. 1918.. J&J 22
Cin.Jack.4Mac.—lst,5s,1933. J&D 92% 95
Sonora, let, 7s. 1910, guar.. J&J 100 101
91
6s. 1911................................. A&O
Cin.
Laf.&
Ch.—1st,
7s,g.,1901.M&S 1117
Wiehita&8.W.,lst,7s,g.,gua..l902 t l l 4 116
Chic. & Alton—1st M., 7s, ’93.. J&J 111*2
Cin. Leb. & Nor.—1st m. 5s___J&J
105.
Atlanta & Charlotte Air L.—1st,7s 120 121
Sterling mort., 6s, g., 1903..J&J 1124 126 iCin.Rieh. &Chic.—1st, 7s, ’95.J&J I........ 115
Income, 6s......................................
99*2 101
Bds. Kan. C. line,6s,g.,1903.M&N 124 124% Cin. Rich. & F. W.—1st, 7s, g.. .J&D till 113%
Atlantic & Pac.—1st 4s, 1937. .J&J 801« 81
Miss.Riv.Bridge, 1st.,s.f.,6s,1912 107
Cin. Sand’ky & Cl.—6s, 1900..FA A tl00*2
26*4 27
W. D. incomes, 1910............J&J
Louis’a& Mo.R.,lst,7s,1900F&A 119 125
Consol, mort., 7s, 1890........ J&D tioo 100*4.
95 100*2
Central Division, old 6s..............
do
2d, 7s, 1900 M&N 117 120
dn.&Sp.—7s,
C.0.C.& I., 1901.A&0 105
23
25
do
incomes. 1922
St.L. Jacks’v.& C., 1st,7s,’94. A&O 114
7s, guar., L.S.& M.8., 1901..A&O 110
40
do
ace. Id. gr. 6s. 1901 30
do 1st guar.(564),7s,’94A&0 114
Cin.Wash.&B.—lst,gu,4*28-6sM&N 987s 99*4
Baltimore & Ohio -N ew 4s___A&O
100 *2
do 2dM . (360), 7 s , ’98.. J&J 113
2d mort., 5s, 1931...................J&J 72*2 74
5s gold, 1925......................... F&A 108 108*2
do 2d guar.( 188) 7s,’98.J&J 112
3d mort., gold, 3s-4s, 1931..F&A 41
East Side 5s, 1925.........................
Chic.& Atlantic—1st, 6s,1920. M&N 80
18
Income
5s, 1931.................
Sterling, 5s, 1927.................. J&D {107 109
30
2d. 6s, 1923............................F&A
Scioto & Hock. V, 1st, 7s....M&N
Sterling, 6s, 1895...................M&8 {109 111 Chic. B. & Q.—Cons., 7s, 1903.J&J 128*2
Balt.
Short
L.,
1st,
7s,
1900..
J&J
Sterling mort., 6s, g., 1902. .M&8 f u e
118
Bonds, 5s, 1895......................J&D 1100 101
Clev. Akron & Col.—lst,6s,1926J&J §103*8 ......
„
do
6s, g., 1910. M&N *.121 123
5s. 1901.................................. A&O 105 106
G m. M., g., 58,51927............ M&3 §97 .....-,
Parkersburg Br., 6s, 1919.. .A&O 118 123
105
5s, debenture, 1913..............M&N
Clev. Col. C. & I.—1st, 7s, ’99. M&N 120 122
Balt. & Pot’c—1st, 6s, g., 1911. J&J 121 123
Iowa Div. 5s, 1919......
A&O n o s 109
Consol, mort., 7s, 1914........ J&D 121 1231st, tunnel, 6s. g., g ’cl, 1911.A&O 122
957e
Iowa Div., 4s, 1 9 1 9 .._____ A&O
Cons. S. F., 7s, 1914............... J&J
Beech Creek—1st,g’ld, 4s,1936, J&J
94
95
4s, Denver Div., 1922.......... F&A
Gen. con. 68, 1 9 3 4 ............... J&J 107
Bell’s Gap—Cons, 6s, 1 9 1 3 ___J&J
88
4s, plain bonds, 1921........... M&S 1 86
Belief. & Ind. M., 7s, 1 8 9 9 ...J&J 110
Belvidere Del.—1st,6s,o.,1902. J&I) 118
Neb. Ext.. 4s, 1 9 2 7 ..............M&N 955«
jClev. & Pitts.—4th M., 6s, 1892. J&J l 05
Cons. 4s, 1927........................ F&A 100% 103
Bur. & Mo. R., I’d M., 7s,’93.A&0 t i l l 112 1 Consol. 8. F., 7s, 1900........ M&N
i'2'9
Boston & Albany—7s, 1892.. ! f &A t u o 110*4
do
Conv. 8s,’94 ser.J&J
Clev.& M. Val.—1st. 7s, g., ’93.F&A
6s, 1895.................................... j &j tuoi« 111
Bur.&Mo.(Neb.),lst,6s,1918. J&J t l l 5 116
Colorado
Mid.—1
st,
6s.
1936..
J&D
2
Bost. Conc.&Mon.—S.F.,6s,’89. J&J tl00% 100>
do Cons, 6s, non-ex..JT&J tl06 107
Columbia & Gr.—1st, 6s, 1916.J&J 102*2 io ?"
Consol, mort., 7s, 1893........ A&O 1107*2 107*4
91
do 4s, (Neb.), 1910... J&J 90
2d mort., 6s. 1926................. A&O 74*2 75%
Consol mort., 6s, 1893........ A&O 1102 »a 103
do Neb.RR,lst,7s,’96A&0 t i l l 113
Col. & Cin. Mid.—1st, 6s, 1911. J&J
96
Bost. Hart.& E.—1st, 7s 1900. J&J
do Om.& 8. W.,1st,8s,J&D 1116*2 117 ¡Columbus Hooking Valley & T.—
1st mort., 7s, guar....... ...... j &j
111. Grand Tr., 1st, 8s. ’ 9 0 ...A&O 105*4 105*2 1 Con. 5s, 1931......................... M&S 70*2 7h
Bost.H.Tun.&W. deb. 5s. 1913 M&8
98
Dixon Peo.& H., 1st, 8s,1889. J&J 102 »a 103
Gen. 6s gold, 1904................ J&D
71
Boston & Lowell—7s, ’92........ A&O t10S*4 108%
Ott. Osw. & Fox R., 8s, 1900. J&J tl24 125
Col. &Hock. V.—IstM. ,7s,’97. A&O IÌ09
6s, 1896................................ ..J&J tl09 109*2 Quincy& Wars’w, 1st, 8s, ’90. J&J 105*4 105%
„ , do
2d M., 7s, 1892. J&J 1103
5s, 1 8 9 9 ...,.........................: : j &J tl06 108
Ateh’n & Neb.—1st, 7s,1907 M&S 120 121
Col. & Toledo—1st mort. bonds .. 114*2 Íl 5*¿
4s, 190o............................
M&8 100 102
Ohio. Burl. & Nor.—5s, 1926.......... 102
do
2d m o r t ...,,............ tiuo 105
4i«s, 1903............................'.M&N 101 103
Debent. 6s, 1896....................J&D luO*a 101
Ohio&W.Va., lst.s.f.,7s,lb xOM&N +..... ua
Boston & Maine—7s, 1893 . . . J&J t i l l
lili« Chic. & Can. So.—1st, 7s, 1902 A&C 35 40 Col. Springf.A C.—1st. 7s,1901.M&S 106»* 1081
76,1894.................’. ............... j &j 112 % 113
Chic. Kan. & West’n.—1st, 5s, 1926 93
93*2 Col. & Rome.—1st, 6s, gu.Cent. Ga. 105 106'
Bost. & Providence—7s, 1893.J&J Tl 13 113*2 Income 6s.......................... ............
50
51
Col.& West.—1st, 6s. guar Cent. Ga. 108 no*
Bost.&Revere B’h—lst,6s,’97 J&J 1112 115
Chic. & East 111.—1st mort. 6s, 1907 113*a
Col. & Xenia—1st M., 7s,1890.M&8 f ...... 106
Bradford Bord. & K.—1st, 6s, 1932
65
Income bonds, 1907.............
Conn. & Passump.—M., 7s, ’93.A&O 1110*2111
25
Bradf.Eld.& Cuba—lst.6s,1932J&J
1st, con., 6s, gold, 1934 . . . . A&O 113
Massawippi, g., 6s, gold ,’ 89 J&J tioo 106
106
Brooklyn Ele.—1st. 6s, 1923..A&O
Chic. & Gr. Trunk—1st mort., 1900 100
36>
Conn. West.—1st M., 7s, 1900. J&J 20
2d mortg, 3-5s, 1915..............J&J
81
99
Ch.&Ind.CoalR’y,lst5s, 1936 J&J 96
Connecting (Phila.)—1st, 6s ..M&S 121 127
Buft. Brad.& P.-G en.M .7s,’96. J&J 98 102
Chic. & Mich. L. 8. 1st 8s, 1 8 8 9....
8
4
*
2
85
Consol.RR.of
Vt.,
1st,
5s,
1913.J&J
Buft.N.Y.&Erie—1st. 7s, 1916. J&D 133 136
Chic. Mil. & St. Paul—
Cor. Cow. & Ant.—Deb.es, ’93M&N
Buft-N.Y.& Ph.—lst,6s,g.,1921.J&J 40
P. du C. Div., 1st, 8s, 1898. F&A 128 129*2 Cumb. & Penn.—1st 6s,’9 1 ....M&S
Pitts. Titusv.& B.—7s,l 896F&A
P. D., 2d M., 7 3-10s, 1898 .F&A 12J 123
Cumberl.Val.—lstM.,8s,1904.A&0
Oil Creek, IstM ., 6s, 1912. A&O
1st, $, gold, 7s, 1 9 0 2 .............J&J 124
Dayton & Mich.—Consol. 5 s... .J&J +104 104*2
Union & Titusv., 1st, 7s,’90. J&J 24
La. 0., 1st M., 7s, 1893.......... J&J 113
3d mort., 7s, 1888, now 2d. A&O +...... 103
Warren* Fr’kln,1st,7s,’96F&A 112 114
I. & M., 1st M., 7s, 1897........ J&J 114*2 115*2 Dayt.A West.—IstM .,6s, 1905.J&J IIOj 105*
90
Bufl.& Southwest.—6s, 1908.. J.&J
I’a. & Dak., 1st M., 7s, 1899. J&J 114*2
1st mort., 7s, 1905.............. J&J U15 125.
Bur. C. R. & N.—1st.5s,new,’06. J&D 105
Hast. & Dak., 1st M.,7s, 1910. J&J 119*4
Delaware—Mort., 6s,guar.,’95. J&J 112
Cons.lst &col. tr., 5s,1934. A&O
95
do
5s, 1910.......... J&J
98
Del.A
Bound B’k—1st, 7s,1905F& A 131
Minn. & St. L., lsr. 7s, guar. J&D
Chic. & Mil., 1st Mv,7s, 1903.J&J
128
Del.Lack.A W.- Conv.7s,1892 J&D no*« n i* i
Iowa C. & W., 1st, 7s, 1909 M&8
1st mort., consol.. 7s, 1905..J&J 123*s 124
Mort. 7s, 1907.................... M&S 131*3137
C. Rap.I.F.& N.,1st,6s,1920. A&O
109
1st M., I. & D. Ext., 7s, 1908J&J 121*2 123
Den. & R. G. 1st ?s,gold,190 *. M&N 119
do
1st, 5s, 1921___A&O
97*2
1st M.,6svS’thwest Div.l909J&J 111
76% 77
1st con. 4s. 1936..........................
Califor. Pac.—1st M., 4*ss, g .. j& j 100
1st M., 5s. La C. & Dav. 1919J&J
75.
Denv.A
Rio G.W.—ls t.63,1911M&S 73
2d M.. 6s, g., end C. Pac., ’9 1.J&J 100
112
So. Minn. 1st 6s, 1910........ i.J&J
6K®8 66
do
assented
.............
3d M. (guar. C. P.), 6s, 1905. J&J 103
Chic. & Pac. Div. 6s, 1910 ...J&J 118*2
77
78*a>v
Denv.S.P.&Pao.—1st,7s,1905 M&N
., . do
,
3s, 1905.J&J 50
101 % Des M.& Ft.D.—Guar.4s. 1905. J&J
do West. Div., 5s,1921. J&J
83 87
Cal.So.—1st 6s (Atch. g u a r.)..j& j 111*2 112
Chic. & Mo. Riv. 5s. 1926....J&J
96
591st m ort, guar., 2*28, 1905 J&J 50
Income 6s, 19z6.......
m &S
86*4 8 6 %
101
Mineral Pt. Div., 5s, 19 1 0...J&J
S3
1st mort., guar. 4s, on extension.
Camden & Atl.—1st, 7s, g.,’93..J&J . . . .
120
Chic. & L. Sup. L»iv., 5s, 1921J&J
Det. & B. C. 18t,8s,en. M. C.1902M&N
2d mort., 6s, 1904......................... a &OI1061 1 1
Wis. &Minn. Div., 5s, 192L...J&J 99%
Det. B. C. & Alp., 1st,6s, 1913 J&J 104% 106
Cons. 6s, 1911......................... j &j
115
Terminla ns, 1914.................. J&J 99*2
{115 119
Det.G.Haven&Mil.—Equip>6s,1918
Canada So.—IstM.,guar.,1908,J&J 1055«
Dubuque Div., 1st, 6s, 1920.J&J 111*2 113
Con. M.„ 5% till’ 84, after 6*. .1918 T113 110
2d mort., 5s, 1913................. M&S 92*4 92%
Wis. Val. Div., 1st, 6s, 1920. J&J lo5 105*2 Det. L. <s North.—1st, 7s, 1907.J&J t l 17 119
Cape Fear & Yad.Val.,lst,6s, 1916
93*8 94
Fargo & South.- 6s, ass.1924. J&J
12U*« Det. Maok.A M.—Ld. gr. 3*28, 8. A.| 33*2
Carolina Cent.—1st,6s,g.,1920. J&J 100
Inc. conv. sin. fund os, 1916. J&J
Dub. & Dak.—1st M., 6s, 1919. J&J
A&O
2d, inc., 6s, 1 9 1 5 .............
85
Dak. & Gt So. 5s, 1916........ J&J
¡
100* Dub.&S. City—1st,2d Div.,’94. J&J 113
3d, inc., 6s, 1910................
30
Chicago & Northwestern—
Dunk. A. V. & P.—1 st,7s,g..l900J&D 110
Catawissa—Mort., 7s, 1900. ".F & A 121
Consol., 7s, 1915.................. Q—F 138% i139*2 East Penn.—1st M.,7s, 1888..M&S 100
Cedar F. & Min.—1st, 7s, 1907. J&J 80
88
Consol., gold, 7s, op., 1902..J&D 128 130
E.Tenn.Va.A Ga.—1st, 7s,1900 J&J 117
Cedar R. & Mo.—1st, 7s, ’91.. F&A 1104*2 106
Sinking fund, 6s, 1929 .......A&O 120*2
Divisional, 5s, 1930............... J&J 105 H O
1st mort., 7s, 1916............... M&N 130 130*2
do
5s, 1929............... A&O 109
Ala. Cent., 1st, 6s, 1918.........J&J 90
2d mort., 7s, 1909, quar....... J&D 1114 117
do
debent., 5s,1933.M&N 108
E. Tenn. V. AGa.R’y.—1st,5s,1956. 95*2 95 %t
Cent. Br. U. Pac., lets, 6s, ’ 95.M&N 104*2
95
Exten. bds. 4s, 1886-1926...F&A
East.
& W. Ry., Ala.—1st, 6s, 1926
Fund, coupon 7s, 1895 .......MAN 105
25-yrs. deb. 5s, 1909............ M&N 105
Eastern, Mass.—6s, g.,1906. .M&S 1120 120%
Atch.& Pike’s PJk, 1st. 6s, g. M&N 102
Escan.&L.Sup., 1st, 6s, 1901.J&J
Eliz. City & Nor.—S.F. deb.,6s.A&O
Atch.Col.&Pac.,lst,6s,1905Q.—F 105*2
Des M.& Minn’s, 1st,7s,1907.F&A
1 st mort., 6s, 1920.................M&S
Atch.J.Co.&W.,lst,6s,1905.Q,—F
Iowa Mid., 1st M., 8s, 1900. A&O
97% .
Elizab.Lex.A Big S.—6s, 1902.M&S 97
Cent, of Ga.—1st. cons., 7s,’93.J&J 108*4 n o
Peninsula, 1st, conv., 7s,’ 98.M&S 120
Elmira&W’mspt—1st
6s,1910.J&J 118
Collat’l trust 5s, la 3 7 ........ M&N
9áS8 100
Chic. & Mil., 1st M., 7s, ’9 8 ..J&J 111*2 120
5s, perpetual.......................... A&O
Cent. Iowa—New 1st., 7s , ’99 J&J ¡1 79
85
Mil. & Mad., 1st, 6s, 1905..M.&S.
Erie & Pittsb.—2d, now 1st__ J&J 102
Die. bonds,“ debt certs.” , 7s,A&O 15
20
Madison Ext., 1st, 7s, 1911. A&O
Cons, mort,, 7s, 1 8 9 8 ............ J&J 110
Eastern Div., 1st, 6s, 1912..A&O 60
70
Menominee Ext.,1st,7s,1911 J&D
Equipment, 7s, 1900............ A&O 100
Ills. Div., 1st, 6s, 1912.........A&O
Northwest.Un., lst,7s, 1917.M&S
Eureka Spr.—1st, 6s,gold, 19 13F&A
Cons., gold, 6s, 1 9 2 4 ...... ..j& D
45
Winona&St.Pet.—2d7s,1907M&N 129
Evans.& Ind.—1st,guar.,g.,6s, 1924
Central KR. of N. J.—
Ott. C. F. & St. P., 5s, 1909..M&S
99
1st, con., 1926................
J&J
F&A 107*4 107%
1st, 7s, 1890........................
North. Ills., 1st, 5s. 1910....M&8 105 110
Evans.A
T.H ,,lst con., 6s, 1921, J&J 114*2 118
Gen. m ort, 5s, 1987...............J&J 98
98*2 Chic.R.I.&Pac.—6s,1917,coup J&J 130 131*2
Mt. Vernon—1st, 6s . . ; ......... A&O
7s, conv, 1902, assented___ M&N 112*2 114
Exten. & col. 5s, 1934........... J&J 106 107*4 Evansv.T.H.&Chi.—1st, 6s, g.M&N lOO
Consol.M.,7s,1899, assented.©—J 111 112
Chic.&8.W.,lst,7s,guar.,’99.M&N 117
Fitchburg—5s, 1899. ...... :. .A&O tl03 104
Conv. deben. 6s, 1908.........M&N 97 103
Chic. & St.Louis—l8t6s, 1915.M&S
5s, 1900-01-02....................... A&O 1103*2 105Am. Dk.& Imp. Co., 5s,1921.j& j
t i p i 103
102*2 Chic. Santa Fe & Cal.—1st, 5s.
6s, 1897..................................A&O 1110 110%*
Leh.& Wilkesb.Coal,ine.,’88,M&N ...... 102
Chic.St. L. &P.—1st, 5s, 1932.A&O 100 100*2 7s, 1894...................................A&O 1112 114
Consol., 7s, gold,1900, ass’d.Q-M 113*2 11378 Chic. & Gt. East., 1st, 7s, 93-’95 104
Flint & P. Marq.—M. 6s,1920.A&O 116 119>
Cent. Ohio—1st M.. 6s, 1890..M&S 103
^Col.& Ind. C., 1st M., 7s, 1904.J&J 1120
Ft. Madison <fcN. W., 1st 7s, g.,1905
Cent. Pac.—1st, 68, gold, 1895 .J&J 113*2
^
do
2d M.7s,1904.M&N 1117
Ft. Worth & Denv. C.—1st, 6s, 1921 79
1st, 6s, gold, 1896.................. J&J 113*2
Un.& Logansp.,lst,7s, 1905. A&O 1114
Frem’t Elk’nA Mo.V.—6s, 1933A&O 1117% 118
1st, 6s, gold, 1897...................J&J 113*2
Cin. & Chic. A. L., 1886-’90........ 1100
do
do
Unstamped.. 1115*2 HO
1st, 6s, gold, 1898.................. J&J 113*2
Chi. St P.& K.C.-lst, g, 5s,1936J&J { 99 101
G.H.&SauAnt.—1 st,6s,g. 1910. F&A 105*2 106.
8.Joaquin, IstM.,6s, g.l900.A& 0 11458
-r r Chic.St.P.Min.&Om.—Con. 6s, 1930 120 120*8 2d mort., 7s, 1905.................J<teD
Cal. & Oregon, 1st, 6s, g .,’88.J&J 99%
Ch.St.P.&Minn. lst,6s,1918M&N 122*2
West. Div. 1st, 5s, 1931___ M&N
do
series B, 6s, 1892
North Wise., 1st 6s, 1930....J&J
do
2d, 6s, 1 9 3 1...J&J
Cal.&Or. C.P.bonds,6s,g.,’92 J&J {107 109
St. Paul&S.City, lsc6s,1919.A&0 122%
Gal.Hous.& Hen.—1st,5s_____A&O (55
72
Land grant M., 6s, g., 1890.A&O 101 102
i.17
Chic. & Tomah.—6s..........................
Georgia—7s, 1883-90................J&J
Mortgage bonds, 6s, 1 9 3 6...A&O 102%
Chic.& W.Ind.—S.fd. 6s, 1919 M&N 111
6s, 1889...........
J&J
West. Pacif., 1st, 6s, g., ’ 9 9 ..J&J 109%
Generalmort., 6s, 1 9 3 2 ___Q—M 115
Georgia Pacific—1st, 6s, 1922. J&J 10a
Oharl’te Col.&A.—Cons.,7s,’95. J&J 110
Chic. & W. Mich. 5s, 1921. ...J& D
96
»7
2d mort.............. ............................ 48
52
2d mort., 7s, 19 1 0 ................ A&O 110
Cin. Ham. &Dayt.—Consol.SsA&O 1103 104
Gr.Rap. & Ind.—1st, l.g., g ’d, 7s, g. +117 120 %a
Cheraw &Darl.—lstM .,8s,’88.A&0
103
Consol, mort., 7s, 1905.........A&O \ __
119
1st M.,7s,-l.g., gold,not guar.A&O 1115
2d mort., 7s.................................... 11Ó 103
Consol, mort., 6s, 1905.........A&O 1103*2 111
Ex land grant, 1st 7s, ’ 99............. 1100
Cheshire—6s, 1896-98 ..............J&J H08 108*4 1 Cin. H. & I., 1st M., 7s, 1903.J&J
I lo
Consol. 5s, 1924.................... M&S 96
96%rChes.O. &S.W.—M. 5-6s, 1911.F&A 104*2 ........
.......II¡Cin. I. St. L. & Chic.—Con. 6s. 1920 H07 ...... Gr. B’y W. &St. P.—1 st, 6s, 1911. F. &A 99
2d mort., 6s, 1911............ ...F& A
M 1st gold 4s, 1936................. „ 0 —J
2d, incomes, 1 9 1 1 . . . . . . . . . .. . . . . . .
30
Price nominal; no late transactions.
1 Purchaser also pays accrued interest.
{I n lo n d o n .
||Couponofi.
6 In Amsterdam.
FHE
32
(iENERA-L
F or
R a il r o a d B o n d s.
QUOTATION'S
E x p la n a tio n s
Bid.
Ask.
CHRONICLE
OF
STOCKS A N D
S ee N o te s a t H e a d o f F ir s t
R a il r o a d B o n d s.
[V ol.
BONDS — C o n t in u e d .
P a ;e o f
Bid.
X IA I.
Q u o ta tio n s .
Ask.
R a il r o a d B o n d s.
Bid. Ask.
121% 122
111 m %
102 102%
92% 94
103
108 ,109
{39% 40%
1109 111
t 7%
8%
4
t 3
i 88
90
t 50
65
{ 50
55
99
99%
SO
40
N.Y.&.N.Eng.—1st M., 7s, 1905J&J
118% 119% Memphis & L. Rock—1st. 8s, 1907 95 105
1st M., 6s, 1905......................J&J
4 6% Memph.& Chari.—1st,7s, 1915.J&J 120 L25
2dm.,6s, 1902.......................F&A
2d mort., 7s, extended..........J&J 120
117% 119
2 d 6s (sealed to 3s)...............F&A
107
1st consol. 7s, 1915................ J&J
N. Y. N. H. & H .lst r. 4s,1903.J&D
1st. cons.. Tenn. lien,7s,1915 J&J 120
98
100
N.Y.Ont.&W.—lst,g.,6s,19l4M
&3
75
Gold, 6s. 1924.........................J&J
68
116% N.Y.Pa.* O.—1st, ino.,ace.7s,1905
Metrop’n Elev.—1st, 6s, 1908. J&J
105
105%
do
prior
lien,inc.ac.,5-6s,’95
114 114%
2d 6s, 1899.......................... M&N
2d mort. in o ................................
113% 114% Mexican Cent.—1st, 7s, 1911..J&J 72% 74
3dmort. ino....................................
113%
Scaled 4s, 1911....................... J&J 65% 66
tíÁ
66
Leased L. rental trust, per deb. 4a
100 110
Bond scrip..................... .
17% 18%
West. ext. certifs, 8s, 1876..J&J
fc'5% 70
Incomes, 1911...............................
97
do
do
7s, guar. Erie
106
Debenture 10s, 1890-95..... A&O 96
95
96
.
.
.
.
.
.
N.Y. Phil. & Nor.—1st, 1923 ..J&J
113
Scrip 10s. 1889 ...................... J&J
42
Income, 6s, 1933...................A&O
100
Mexican Nat.—1st, 6s, 1912 ..A&O 40
91
92
N.Y. Susq. & W.—Deb. 6s, ’ 97.F&A
115
New 1st mort. 6s..........................
1st refund., 5s, 1937..............J&J 91% 93
103 105
Mich. Cent.—Consol.,7s, 1902.M&N 127 129
110%:
73
2d mort., 4%s, 1937......... ...F& A
92% 95
Consol. 5s, 1 9 0 2..........
M&N
Midl’d of N. J.—1st,6s,1910. A&O 103% .........
112
1st M. on Air Line, 8s, 1890. J&J 103% 104
102
103 N. Y. Wood.& Rock , 2d ino. 1912..
Air Line, 1st M., 8s, guar.. .M&N
{108 LIÓ
......
Norf’k&W.—Gen’l M.,6s,1931 M&N 111%
113
6s, 1909.............................. ...M&S
till
New River 1st 6s, 1932....... A&O 110 112
U0Ö 108
5s, coup., 1 9 3 1 .....................M&8 106 108%
Impr. & Exten., 6s. 1 9 3 4 ....F&A 93
Kalamazoo&8.H.,lst,8s,’90.M&N 101% 103
l l á h 119
Adjustment 7s, 1924......... Q.—M. 101% ici
........
J.L.&Sag.NorthExt.,8s,’90.M&N
100%
i'o's"'
Conv. deb., 6s, 1894..............J&J 87
do
Cons.lstM.,8s,’91.M&8
114%
Norf’ k&Petersb.,2d,8s, ’ 93. J&J 115 117
115 116%
do
6s,1891.................. M&S 104%
118
So.
Side, Va., ext. 5-6-8s,’88-1900 102% 105%
End. Bl. & W —1st, p f.,7s, 1900J&J 110% 120% Joliet & N.Ind.,lst,7s (guar.M.C.)
do 2d M.,ext.5-6s,’88-1900 102
90
Mich. & Ohio—1st, 6s, 1923 ..M&N
1st mort., 5-6,1909,Tr. rec.A&O
98
101
do
3d M.. 6s, ’96-1900.J&J (105 108
71
Midd. Un. & Wat. Gap—1st mort..
2d mort., 5-6,1909. Tr. rec.A&O
75
78
Va.&
Tenn., 4th M., 8s, 1900. J&J 122
21
19
2d
mort.
5s,
quar.
N.Y.
8.
&
W
..
Income, 1921, Tr. rec..................
do
extended 5s,1900. J&J 100 105
91
Mil. Lake Shore & Western—
East.IJiv., 6s,1921,Tr. reo...J&D
1st mort.. 6s, 1921......... ....M &N 120 120% North Carolina—M.. 8s. 1888.M&N 10»
fad.D eo. &8p.—1st, 7s, 1906.A&O 11102
92
95
North Penn.—1st,7s, 1896___M&N 117 118%
Conv. deb. 5s, 1907..............F&A
2d mort., 5s, 1911.................. J&J
130
Gen. mort., 7s, 1903 ..............J&J
35
Mich. Div., 1st, 6s, 1924.......J&J 113
2 i, income, 1906,Tr Co. cert.J&J
116%
118
New loan, 6s, reg., 1905.......M&S
Ashland Div., 1st 6s, 1925..M&S
New 1st mort. 6s, fun ded...........
101
128
Northeast.,S.C.—1st
M.,8s,’99,M&S
1112
1st,
incomes........................
..........
Ind’ polis & St.L.—1st,7 b, 1919.Var
2d mort., 8s, 1899.................M&S 120 .........
St. P.E. &Gr. Tr’k, 1st, guar., 6s. 98 100
In d’ap >lis& Vin.—3st,7s,1908.F&A 115 120
105%
Northern,
Cal.—1st,
6s,
1907..J&J
103%
Mil. & N o —1st, 6s, 1 9 1 0 ....J&D
2d mort.. 6s. g., guar., 1900,
Northern Cent.—4% per cent..J&J loO
109 110
1st, 6s, on extension 1913..J&D 104% 105
Int. & Gt.North.—1st,6s,1919
3d mort., 6s,1900.. ............. A&O 118
75
Minn’p. & S t.L —1 stM., 1927.J&D ...... 125
.
Con. mort.,6s, g.,coup., 1900.J&J 118
1103 105
1st M., Iowa City& W., 1909.J&D 97% 100
Ill
Mort. bds., 5s, 1926, series A J&J
2d mort., 7s, 1891.................. J&J
110
i i 29% 129% Southwest. Ext.,1st,7 s, 1910.J&D
do
series B ................
I ’a Falls & 8. C.Con. mort, stg. 6s, g .,1904...J&J 1110 112
100 ___ 71 Pacifie Ext., 1st, 6s, 1921 .*. A&O
Jefferson—1st m
52i2
114
Northern,
N.J.—1st
M.,
6s,
’88.
J&J
1113
Imp.&Equip.
6s,
1
9
2
2
.......J&J
Jefi. Mad.&Ind.102is North. Pao., P. D’O Div.—6s, M&S 103
t il 6 119
Minn’p. & Pac., 1st, 5s, 1936. J&J
96
Mo. Div. 6s, 1919................. M&N 103%
Minn. S. Ste. M. & Atl.—1st,5s, 1926 +94
101
85
70
Gen’ll , g., 1st, 6s, 1921____ J&J 116% 147
Minn. & N. W.—1st, 5s, 1934.. J&J
¿.anawha & O.—1st o's. 1936.
115
16
Gen. land gr.,2d, 6s, 1933...A&O 103%
95
Miss.&Tenn.—1st
M.,
8s,series
“
A’
Kan, C. Clint’n & Springfleld105
Dividend scrip....................... .J&J 105% 105%
Í115 116
8s, series “ B” .........................J&J
106%
James Riv.Val.— lst,g.,6s,’36J&J 100 104
1115 118
Mo.K. &T.—Cons. 7s., 1904-6..F&A
71
72
101
Spokane & Pal.,1st 6s, 1936.M&N
1114 114%
Consolidated 6k. 1920..........J&D
90%
St.P.&Nor.Pac. gen.6s,1923.F&A 118
) 90
Consolidated 5s, 1920.......... J&D 62% 62%
Helena* Red Mt.lst,6i,1937M&S 103
(118 118%
2d mort., income, 6s, 1911..A&O
Dul. & Man., 1st, 6s, 1 9 3 6 ...J&J
; 110% 111
1st, 6s. g., 1899, (U. P. S.Br.)J&J
K.C.Spr.&Mem.—1st,6s, 1923
106
69%
Hel. B. Val. & B.,lst,6s,1937M&N
Han. & C. Mo., 1st 7s, g.,’90.M&N
Ken. Cent. Ry.—Gold 4s, 198
102is
10278
107%
Drum. & Pet., 1st. 5s, 1937..J&D
107
Mo.Pac.—1st mort.,6s,gld,’88, F&A
Keohuk&Des M.—lst,5s,guai
. . 89%
Helena&N’rth —lst.5s.1937. J&D 99% 102
Consol. 6s, 1920...................M&N 111%
Knoxv. & Ohio 1st, 6s, 1925...J&J
104
102
North. Pao. Ter. Co. —lst,6s,’33.J&J 99% 102
101%
2d mort., 7s, 1 8 9 1 .................J&J
LakeE.& West.—lst,g.,5s,193
Norw’h&Woro’r—1st M., 6s.’97.J&.i 112 114
Car. B., 1st mort., 6s, g. ’93..A&O
Labe Shore & Mich. So.—
119
Ogd’nsb’g&L.Ch.—1st M.6s,’97, J&J t io o 102
110%
3d mortgage. 7s, 1906___ ..M&N
102% Sinking fund, 8s, 1890......... M&S 1104 105
119
Verd.Y.Ind.& W.,lst,5s,1926M&Sjc
95%
Consol, ,6s, 1920................... A&O 99% 99%
Leroy & C. Val., ls f,5s. 1926.J&J
93
96
37
40
Income, 3s & 6sl920...........
120% f f § Mobile & Birm.—1st, 5s, 1937........
Ohio Cen.—Riv. Div., 1st, 6s.. 1922
Mobile & Ohio.—
42%
47
Income,
6s,
1922,
Tr.
reo........
.
103
lstp ref. debentures.....................
20%
Ohio & Miss.—Cons.,s.fd.7s,’98 J&J 114% 118
119
2d pref. debentures......................
Cons, mort., 7s, ’98................ J&J 114%
125 125%
3d pref. debentures.......................
2d mort., 7s, 1911................ A&O 113%
125 125%
4th pref. debentures.....................
do cons.,reg
103%
.......
110
122
1st gen , 5s, 1 9 3 2 ................J&D
New mortgage, 6s, 1927.......J&D
do
lstmort.,Springf.Div.,1905 M&N 106% 108
122 122%
Collateral trust 6s, 1892 ....J& J 102
do
104
105%
103
Ohio
River RR.—1st. 5s, 1936. J&D
88 h
1st extension 6s, 1927.......... Q—J
Ohio Southern—1st 6s, 1921...J&D 93 Ï0Ô "
St.L.& Cairo—4s, guar., 1931.J&J 71
30%
104%
Í2Ó
2d income, 6s, 1921.......................
Morg’n’sLa.&Tex.,lst,6s,1920J&J
Lehigh Val.Old Colony—6s, 1897...............F&A (112 112%
136 136%
1st mort., 7s, 1918...............A&O 121
1110
138%
142%
110%
129
6s, 1895.................................. J&D
........
Morris & Essex—1st, 7s, 1914 M&1S
110%
7s, 1 8 9 4 ................................ M&S (114 114%
110 412
2d mort, 7s, 1891.................. F&A
(102%
113
118
103
4 % s,1 9 0 4 ....................... ...A&O
109 110
Bonds, 7s, 1900.....................J&J
Bost.C.&Fitchb.,lst,7s,’89-90J&J (103 105
120 424
General mort., 7s, 1901.......A&O 125 427
Long Island—1st M.. 7s, 1898.M<S
B. C. F. & N. B., 5s, 1910 ..J&J 1107 110
110% 411%
Consol, mort., 7s, 1915......... J&D 132% 433
1st consol. 5s, 193Ï...............QN. Bedford RR., 7s, 1894 ..J&J (110 113
100 . . . . . . N ashua* Lowell—6s, g . , ’93.F&A 107 109
Newtown & FI., 1st, 7s, 1891...
Omaha & St. L.—1st, 4s, 1937...T<SJ 76% 77
105
5s, 1900.......................................... 104% 106
100
. . . . .. Nashv.Ch.&St.L.—1st, 78,1913 J&J 129 430% Orange Belt—lstm orr., 6s, 1907...
Oreg. & Cal.—1st 6s, 1921........ J&J { L05 107
114 115
2d mort., 6s, 1901..................J&J 104% 407
2d
mort.,
7s..........................
117 118
Nashv.& Decatur—1st,7s,1900. J&J
Oregon&Transcont.—6s,l922M&N 93 38 93%
101% 102
Natchez Jack. & Col.—1st, 7s, 1910
Lou’ v.Ev.& St.L101
Osw.&Rome—IstM ., 7s, 1915.M&N (122
51% 52
New’kS’s.et&S.—1st. 7s, g. ,’89.M&N
Panama—Sterl’gM., 7s. g. ’97. A&O {lo3 1Ö5**
Louis. & Nash.—Cons. 1st, 7s, 1898, 119% 121% N’burgh&N.Y.—IstM . 7s,1888.J&J 104 101
L05
110
Sinking fund sub., 6s, 1910.M&N
108
N. J. Junction, 1st, 4s, 1986..F&A
96 101
Subsidy bonds, Eng. issue, 6 s .... }99 l o i
. . . . . . New Jersey & N. Y.—1st m ort. . . .
131
133
Penn.RK.—Gen.M,6s,cp.,1910Q—J
108% . . . . . . N. J. Southern—1st M.,new 6s. J&J
Cons, mort., 6s, 1905...........Q—M 120 121
]120 122
N. O. & Gulf.—1st, 6s, 1926..M&N 99 105
113
Collateral trust, 4 % s,1913..J&D
1¡8
J llö
N. O. & Northeast.—Prior 1.6s.1915
113
Consol. 5s, 1 9 1 9 .................... J&D
108 403% N.Y.& Can.—£M.,6s,g.,1904.M&N {112 114
Penn. Co., 6s, reg., 1907___Q.—J 105%
N. Y. Cent. & Hud. R.—
do
do 1st M., 4*28,1921. J&J 10> 105%
100
Extended 5s.......................... M&N IO414
Penn.& N .Y .C an .-lst. 7s, ’96. J&D 143
116
Mort., 7s, coup., 1903........... J&J 132%
1st mort., 7s, 1906. . ..............J&D
57
Debenture 5s, 1904 ..............M&S 108’ s
dö
93
Pensacola & Atlantic-1 s t in.. F&A
Sterling mort., 6s, g., 1903... J&J J124 126
Nash. & Dec., 1st 7s, 1 9 0 0...J&« 1 Lti% . . . . . .
113 . . . . . . N.Y.Chio.& St.L.—New 1st,4s,1937 86*2 86% Poo. Dec. & Ev.—1st. 6s, 1920. J&J 106 ILO
73%
110 111
N. Y. Elevated.—1st M.. 1906.J&J 115 II 6I2 2d mortgage, 5s, 1927...................
106
34
Evansville Div., 1st 6s,1920.M&a
105% 106
N. Y. & Greenw’d L.—1st M. ino. 6s 50
7*4 Peo.& Pekin Un.—lst,6s,1921.Q—F 110
5
108%
2d mortgage income.. . . __
W
2d morji. 4%s, 1921............. Q—F
100 ____ N.Y.&Harlem—7s,coup.,1900.M&N 129 130
98% 99% N.Y. Lack.& W.—1st, 6s, 1921. J&J 125% 1 2 7 « Perkiomen—1st M., 6s, 1887..A&O ioT
j
90
400
Cons,
mort.,
6s,
1913,
sterling
...
107%
107
95
2nd, 5s, guar., 1923........... F&A
Pensa. & Atl.—1st,6s,:
Petersburg -Class A, 1926 ....J& J le 6
113
no
N. Y. Lake Erie & Western—
Class B, 1926........
A&O 104 i 05*
) 91% 92
1st m ort, 7s, 1897, ext...... M&N 118 123
105
Phila. & Erie—1st M.,7s, 1888. J&J
2d mort, exten., 5s, 1919 ...M&S 112 117
3 ......
Gen. M.. guar., 6s, g., 1920. .J&J {Í26 128
3d mort. ex. 4%s, 1923.i___M&8 105 108
2d mort., ;
111
Consol. 5s, 1920.................... A&O
j 116 118
4th mort., ext., 5s, 1920.. ..A&O 112 114%
Bunbury&Erie, lstM .,7s,’97.A&0
5th mort., 7s, 1888............... J&D 101 102
3 (108 110
Phila. & Read’g—1st, 6s, 1910.J&J 122
1st cons. M., 7s, g.,1920....... M&8 136
Cons. 7s, 1912....................... A ) (1*7 129
2d, 7s, ’93............................... A&O 111 % 112 %
97% ......
. fl03% 105
New 2d cons. 6s, 1969.......... J&D
Androscog.* Ken., 6 s..........
75
Debenture 6s, 1893 ............ ..J&J
Collateral Tr. 6s, 1922........ M&N 104 106%
1 fl0 9 111
Consol.M.,7s,1911, reg.& op. J&D 129
Fund. 5s, 1969.........
J&D
) 1109 111
118
120
Consol,
mort.,
6s,
1911........
J&D
131
Í30
406
1st cona. fund coup.,7s,1920 M&8
L 104
Improvement mort., 6s, ’97.A&O 102 404
102
Reorganizat’n 1st lien, 6s, 1908
Gen’l mort., 6s, 1 9 0 8 ..........J&J 108% 109%
Gold income bonds, 6s, 1977___
ï 1........ 95
Gen’l mort., 7s, 1 9 0 8 ...........J&J 109 113
Long Dock mort., 7s, 1893..J&D 11 L 111%
109% 411
76
Convertible, 7s, 1893----------J&J
116
ao
con. g., 6s, 1935 ..A&O
10 1% 102
oe, 1908.
Cons. 5s, 1st series..............M&N
N.Y. & N p ith —1st g.5s,1927.A&O 102 10,38
)
97% 98
74%
Cons.
5s,
2d
series.................
F&A
76
48
51
"> OrSIf) 97
cold •"s. 19 2 7....
..J a D
Gulf Col. & 8. Fe—1st, 7s,1909 J&J
2d, 6s, gold, 1923.................. A&O
Ban. & St. Jo.—Con. 6s. 1911..M&S
Harris. P.Mt.J. &L.—1st,4s.. U) 13
Hart. & Conn. West.—5s........ 1903
Ho’st.E.&W .Tex—lst,7s,’98.M&N
2d, 6s, 1913..............................J&J
H.& Tex.Cen—1st m.,7s,guar.l891
West. Div., 1st, 7s, g., 1891..J&J
Waco & N. W., 1 st, 7s, g.,1903. J&J
Cons. mort.. 8s, 1912— ....A & O
Gen. mort. 6s, 1921, Tr. rec.A&O
Hunt. & Br. Top—1st, 7s, ’90..A&O
2d mort., 7s, g., 1895............ F&A
. Cons. 3d M. 5s, 1895............ A&O
Illinois Cent.—1st Chi.&8pr.’98 J&J
1st, gold,4s, 1 9 5 1 .............. J&J
Gold, 3%s, 1951......................J&J
. Middle Div. reg. 5s, 1921... F&A
Sterling, 8. F., 5s, g., 1903. .A&O
Sterling, gen. M.,6s, g., 1895. A&O
Sterling, 5s. 1905................... J&D
Chic.St.&N.O.—1st eon. 7s, 1897.
2d, 6s, 1907.........................J&D
Ten. lien, 7s, 1897.............M&N
‘ Price nominal : no late transactions.
Purchaser also pays accrued interest.
î In London.
UCoupon off.
c. In Frankfort.
THE CHRONICLE
J anuary 7, 1883.]
G E N ER A L
F or
R
a il r o a d
B o nd s.
QUOTATIONS
E x p la n a tio n s
Bid.
Ask
OF
STOCKS A N D
S ee N o te s a t H e a d
R a i l r o a d St o c k s
of
33
BONDS — C o n t in u e d .
F i r s t P a ste o f Q u o t a t i o n s .
Bid.
Ask.
Bid. &tk.
R a i l r o a d St o c k s .
155 156 ~
Tex. Cent.—lst,sk.fd.,7s,1909M&N
Phil a. & Reading—(Continued.)—
70
41
1st mort., 7s, 1911...............M&N 60
Brooklyn Elevated., n e w .
Conv. a<y. scrip......................J&J
43
190 100
10
Texas & New Orleans—1st,7s.F&A 112*4 112 %
Scrip for 6 deferred % coupons
19
21
20
Sabine Div., 1st, 6s, 1912...M&S 100
Pref.
do
Deferred income................... ...
(liii.i*.
Tsx.&Pao - 1 s t M..6s,g.,1905.M&S
Income mort., cons. 7s, ’96, J&D 80% 81
§ 10% 1 1
Cons. M.,6s, g. 1905.tr. ree. J&D. 98% 99% Buffalo N.
CoaJ& I., guar.,7s,’92,ex-cp.M&S
102
47%
104
Inc.
and
land
gr.,
reg.,
1915.
July
47
do
Pref.
Phila. Wil. & Balt.—6s, 1892. .A&O
S -... • 10
48
65% 66
Rio Gr. Div., 6s, 1930, Trust reo.
60
6s, 1900.................................. A&O U04 107
Gen.M.&ter. 6s,1905.tr.ree. A&O. 59
50
5s, 1910.................................. J&D 1103 104
76
99*4 100
N.O. Pac.. 1st, 6S,gold, 1920. J&J II 75
California Pacifie.
6
Trust certs., 4s, 1 9 2 1 ............J&J
44% 46
87
Tol.A.Ar.&N.M.—lst,6s,1924.M&N 85
Pine Creek- 6s, 1932............... J&D
ft 10
Tol.A.A. &Gr.T., 1st,6s,1921. J&J 101 105
Pittsb.C.& St.L.—1st, 7s, 1900.F&A 118
ft 40 _rTV
Tol. & Obio Cent.—1st, 5s, gu.1935 93% 93%
Pittsb.Cl.&Tol.—1st, 6s, 1922. A&O 107
do
Pref.
65% 55%
Tol.Peoria &W.—lst,7s,1917, tr.rec. 80
Pittsb. &Con’Usv.—1stM.7s,’98.J &J 117
62
Toi. St.L.&K.C.,1st,6s,1 9 1 6...J&D
85
91%
62*4
Sterling cons. M. 6s,g.,guar.J&J {129 131
United Co sN.J.—Cons.,6s,’94.A&O
Pittsb.Ft.W. & C.—1st,7s,1912 Yar 138
5 13
ft 54% 55
do
gen. 4s, 1923....... F&A 103% 103%
do
2d mort., 7s, 1912.................. J&J 136 138
5 53
Sterling mort., 6s, 1894....... M&S {109 111
do
3d mort., 7s, 1912.........
A&O 130
53%
...... 9
do
6s,1901....... M&S {119 122
Pittsb. McK.& Y.—lst,6s,l 932.J&J
120 125
Cam. & A mb., mort., 6s, ’ 89.M&N
105
Pittsb. & West.—1st, 4s, 1917. J&J *67** 74
2
Union Pacific—1st, 6s, g.,1896. J&J 112%
Portl’nd&Ogb’g—lst6s,g.,1900J&J 105 108
6
1st, 6s, 1897................ .......... J&J 113
•^
do
Port Royal & Aug.—1st, 6s, ’99. J&J 105
40
1st, 6s, 1898...... ........J & J
113 113%
do
Income mort., 6s, 1 8 9 9 ........ J&J
Ren.&S’toga—1st 7s,1921 cou.M&N 140 141*2 1st, 6s, 1899............................ J&J 113%
Central Massachusetts........ .100 2 1 % 22
57% 60
I-and Grant, 7s, 1887-9.........A&O 103
Rich’d & Allegh—1st, 7s, trust rec.
do
p r e f..-100 41% 42
Sink. F., 8s, 1893................... M&S 118*4 119
2d mort., 6s, 1 9 l6 ................ M&N
Central of New Jersey..............100 76
76%
45
Rich’d & Danv.—Con.,6s,’90..M&N io i"
Om. Bridge, sterl. 8s,g., ’96.A&0 1120 125
50
50
General mort., 6s, 1 9 1 5 .......J&J 108 109*2 Collateral trust, 6s, 19 0 8 ___J&J
do
Pref...........................50
Collateral trust, 5s, 1907___J&D
32
Debenture, 6s, 1927.............A&O 100 109
Central Pacific.......... .................100 31
Kans.Pac., 1st, 6s, 1895....F&A 111% 112
Con. gold, 5s, 1836..............A&O 74
27
Charlotte CoL & Aug................. 100 20
3
do 1st M., 6s, 1896.......J&D 109% 111
4%
Piedmont Br., 8s, .1888........A&O ÎOO 101
Chesapeake & Ohio, common ..100
7
Rich.Fred.& Pot.-M .7s, ’81-90J&J 123
do Denv. Div., 6 s.. . . . M&N 114
7%
do
1st p ref...100
5
do 1st cons. M.,6s,1919M&N 102
Rich. & Petersb., 6s, 1915___M&N 120
do
2d p r e f.... 100
Oregon Short-L., 6s, 1922 .. F&A 101
New mort., 7s, 1 9 1 5 ............M&N
Cheshire, pref....................... ....1 0 0 119 120
Utah Cen.—IstM ., 6s, g.,1890.J&J
Richmond York Riv. & Ches., 8 s ... 117 118
90
C hicago* Alton................
100 130 140
6
2d mort., 6 s ........................ M&N 101 105
Utah So., gen., 7s, 1909........J&J
94
8
Chicago & Atlantic Beneficiary___
Rich. & WestPt.Ter., 6s, 1897. F&A 87* 88
do ext, 1st,7s,1909 J&J 92% 94
Chicago Burlington & North.. IOC 62% 63
Utica &Bl’k R.—Mort., 7 s,’91. J&J f 105
Roch. & Pitts., 1st, 6s, 1921...F&A 117
Chicago Burlington & Quincy.. 100 127% 128%
Valley of Ohio—Con. 6s, 1921.M&S
Consol. 1st, 6s, 1 9 2 2 ............ J&D 112%
Chicago & East Illinois................... 115
5
Ver. & Mass.—Guar. 5s, 1903 M&N 107 109
do
income, 1921..........
8%
Chicago & Grand Trunk................
40
95
Vioksb. & Mer.—New 1st mort. . . . .
80
Rome & Carrollt.—1st, 6s. g., 1916
50
Chicago & Ind. Coal Railway........
90% 95
2d mort..........................................
Rome &Dec.—1st.,6 s ,1926...J&D
45
do
do
pref
3d mort., income.. ........................
6
RomeWat’n&O.—S.F. ,7s,1891 .J&D 107%
7
Chicago Milwaukee & St. Paul. 100 74% 74%
112 %
Vioksb. Sh. & Pac. -Prior lien, 6 s .. 1107 109
2d mort., 7s, 1892...................J&J 107
do
pref., 7 .lo o
Consol., 1st ex. 5s, 1922___A&O 101 102
Va.Midland—1st ser.,6s,1906.M&S 117
Chicago & North Western........ 100 106 ög 106%
2d series, 6s, 1911................ M&S 115
Rutland—IstM ., 6s, 1902....M&N 1C7 107%
do
Pref., 7..100 139 140
95
96
3d series, 5-6s, 1916............ M&S 108% Í09
Equipment, 2d mort., 5s ....F& A
Chicago Rook Island & P ac.. ..100 1 1 1 % 1 1 2 %
4th series, 3-4-5s, 1921........ M&S 70
8t.Jo. & Gr. Isl’d—1st, guar.6s,1925. 97% 98
80
Ohio. St. Louis & Pitts............... 100 12 % 14
38
40
60
40
5th series, 5s, 1926.............. M&S
2d mort.. incomes, 5s, 1925........
99% 99
do
pref......... 100
St.L.Alt.&T.H.—1st M., 7s, ’94.J&J 110% 117
Incomes, cumul., 6s, 1927...J&J
93
Chic. St. P. Minn. & Om., com .. 100 39% 40*4
110
Gen. 5s, guar., 1936..........M&N
74% 79%
2d mort., pref., 7s, 1 8 9 4 .... F&A
do
pref.. 100 106 107
40
42
2d income, 7s, 1894..............M&N
Wab.St.L&P.—lst,ex.,7s,’90.F&A
Chicago & West Michigan........ 100
108
71% 90
36
41%
Div. bonds, 1 8 9 4 ..........................
Mort., 7s, 1879-1909........... A&O
92
Cin. Hamilton & Dayton..........100
*
116
120
Bellev.&S.Ill.,lst,8.F.8s.’96.A&0
2d mort., 7s, ext. 1893, ex..M&N
88
do
Pref..........
77
110
Bellev.& Car., 1st 6s, 1923..J&D
Equipment 7s, 1883 ............M&N
........ Cin. Indianap. St. Louis & Chio.100 74
60
Bt. L. Ark. & Tex. 1st 6s,1936. M&N 98% 98%
Gen., 6s, 1920, Tr. reo..........J&D *49**
Cincinnati N. O. & Tex. P a c....100 56
20
21
Ohio. Div., 5s, 1910 gold.......J&J
95
96% Cin. Sandusky & Cleveland........ 50
F&A 40% 42
2d mort., 6s, 1936......
53
St. L. & Iron Mt.—1st,7 s,’92. F&A 110 111
Havana Div., 6s, 1910.......... J&J
do
Pref., 6.50 ö l
Indianap. Div., 6s, 1 9 2 1 ___J&D
2d mort., 7s, g., 1897...........M&N lo9
Cincinnati & Springfield.................
3
4
Ark. Br. 1. gr., M., 7s, g., ’95.J&D 108 109*4 Detroit Div., 6s, 1921............J&J 100% 106% Cin. Washington & Bait.............100
5%
6%
Cairo Ark. & T.,1st,7s,g.,’97. J&D 108 109
Cons.mort.,7s,1907,con vert.Q—F 83
do
pref.. 100
a 35*4
1st. St. L. div., 78, 1889.......F&A 106% i o W
Cairo & Ful„ lst,l.g.,7s,g.,’91. J&J 104*s 105
54
Gen. con. r’y & 1. g., 5s,1931A&0 90*2 91
Gt. West., 111.,1st, 7s, ’88......F&A 106% 108
(Jlev. Col. Oin. <s Indianapolis.. 100 51
87
7*4 7%
St. Louis & San Francisco—
90
Cleveland & Canton.........................
do
2d, 7 s,’9 3 ....M&N
25
2d M., class A , 1906............ M&N 113
26
90
Q’noy & Tol., 1st, 7s,’90.. ..M&N
do
do
Pref..
2d M., class B, 1906............ M&N 113*2 114
111.& S.Ia.,lst, 6s, 1912.......F&A
Clev. & Pittsburgh, guar., 7 .......50 152
Cœur d’Alene................................
2d M„ class C, 1906............M&N 113
St.L.K.C. &N. (r.est.& R.),7s.M&8 111
eoutn Pacific.—1st M, 1888 .J&J 100*8 100*2
Columbus & Xenia, guar., 8.........50 105
do Om.Div.,lst7s,1919.A&O
104
25
do Clar. Br., 6s, 1919.. F&A
K an.G &Sw., lst,6s,g.,1916..J&J
Col. Hock. Val. & Tol................. 100 24
15*4 18
Pierre C. & 0 . 1st, 6s........... F&A 105
do No. Mo., 1st, 1895...J&J 111
Colum bia* Greenville,pref___100
138
139
Equipment 7s. 1895...............J&D 105*s
do St. Oha’s Bridge 6s, 1908
Concord.......................................... 50
General mort.. 6s, 1931........ J&J llv-Sg 112 %
Wab. Fund, 1907—Var. 7s. F&A
Concord & Portsmouth,guar.,7 100 140 150
General mort., 5s, 1931........ J&J 100*2
do
Various 6s...........F&A
Conneotiout & Passumpsio.......100 107% 108
10*5 Warren (N. J.)—2d, 7s, 1900 ,.A & 0 118
Ft.8.& V.B.Bd.,lst,6s, 1910.A&O
Connecticut River......................100 186 187
West Chester—Con. 7s, 1891..A&O 107%
StiL.K.&So.W. -1st 6s, 1916M&S 98
Danbury & Norwalk.................... 50
111*8 W. Jersey & At. 1st M.,6sl910M&8 106% 107% Dayton & Michigan, guar., 3% ..50
Trust bonds, 6s, 1920..........F&A
115
St. L. W. & W., 6s, 1919.......M&S
110*4 West Jersey—1st, 6s, 1896...... J&J
do
Pref., guar., 8.50 156 160
150
114
125% Delaware & Bound Brook........ 100
1st mort., 7s, 1899.................A&O
St.L. Vand.&T.H.—IstM.,7s,’97. J&J
2d mort., 7s, 1898................ M&N
Consol, mort., 6s, 1909......... A&O
Delaware Lack. & Western........ 50 128% 128%
2d, 7s,guar., ’98.....................M&N 105
West Shore guar. 4s.................. J&J 99% 100 Denv. & Rio Gr............................100 22*4
53%
St. P. & Duluth—1st, 5s, 1931.F&A
West’n Ala.—1st M., 8s, ’8 8 ...A&O 101 102
do
do
pref.100 53
12
St.P.Minn.&Man.—1st 7s,1909 J&J 108*2
Denver & Rio Grande Western.......
2d mort., 8s, guar., ’90........ A&O 106 107
8% 10
2d 6s, 1909............................A&O 117
122
West.Maryl’d—3d en.,6s, 1900. J&J
Des Moines & Fort Dodge...............
20
Dab. Ext., 6s. 1910..............M&N
W’nNo.Carolina—1st,7s,1890.M&N
do
do
Pref..
60
1st consol. 6s, 1933..............J&J 114% 115
Consol. 6s, 1911......................J&J *9*5
Det. Lansing & Northern, com .100 50
ICO
101
do
reduced to 4 'is ..J&J
97
do
do
Pref.100
West’nPenn.—1st M., 6s, ’93.. A&O 103 ........
Minn’s U’n, 1st, 6s, 1 9 2 2 ___J&J 110
Pitts. Br., 1st M., 6s, ’ 9 6 .....J&J 112
Dubuque & Sioux City............... 100 75
9
Montana E x t . 1st, 4s, 1937.J&D 82% 83
W heeling*L. Erie—1st,5s,...1926 94%
Duluth So. Sh. & A tl........................
23
90% Wichita & Western—1st, 6s__ J&J 100 104
San Ant.& A. Pass., 1st,6s,1916. J&J
do
Pref................
10
10%
90 k Wilm. Columbia & Augusta, 6s.......
do
lst,6s,l 926.J&J
East Tenn. Va. & Ga. R y..........100
63
60
Sandusky Mansf.&N.—1st, 7s,1902 112%
do
do
1st pref.. 100
W11.&Weldon—S.F.,7s, g .,’96. J&J
22
23
Sav. FI. & W.—1st, 6s, 1934..A&O 112 117
do
do
2d pref...100
Wisconsin Cent.—1st ser., 5s, 1909
At. & Gulf. con. 7s, ’ 97..........J&J 112
45
2d series, 7s, 1909, If earned___
45% East Pennsylvania.......................50 ft 50
So. Ga. & F la —1st,7s, 1899........ 112
Wis. Valley—1st, 7s, 1909........ J&J 118 120
East & West, Alabama.....................
2d, 7«, 1899........................M&N 110
103
Wor e’r&Nashua—5s, ’93-’95.. Var.
105
Eastern (Mass.)...........................100 117% 119
90
95
Scioto Val.—1st, 7s, sink’g fd..J&J
Nash. & Roch.. guar..5s.’94.A&O 103% 104
do
Pref....................... 128% 119%
09
2d mort., 7s, sink’g fd.......... A&O
71
Eastern in N. H .................... ....1 0 0 107 108
R A I L R O A D S T O C K S . Par.
Consol. 7s, 1910..................... J&J 1 50
Elizabeth Lex. & Big Sandy___100
Ala. Gt. South.—Lim.,A., 6s,pref.. t 10 % 11
Sham. 3un.& Lew.—1st, 5s,’ 12M&N
Lim., B, com ................................. . t 3%
4
Elmira & Williamsport, 5 ...........50 ft 44
__
Sham.V.& Potts.—7s, cou. 1901J&J
Ala. N. O. & Pac., &c., pref........... t 1*4 1%
do
Pref., 7..50 1 6 5
86
Shehandoan Val. -lst,7s, 1909.J&J 92
88
do
do
def... Î
% Evansville & Terre Haute...........50
*4
General mort., 6s, 1921.......A&O
93%
35
37
Albany & Susqueh., Guar., 7. ..100 140 150
Fitchburg. Pref.......................... 100 93
25
2d
Shreve. & Hous.—1st, 6s, gu., 1914 65
Allegheny V a lley ......................... 50
Flint & Pere Marquette..................
95% 96
Sioux C. & Pac., 1st M., 6s,’98.J&J 106% 107
do
'd o
Pref..........
Atchison Topeka & Santa F e.. 100 **9*638 *9*6%
2%
Sodus Bay& So.—lst,5s,g.,1924J&J
1%
Atlanta & Charlotte Air L in e ........
Florida R’y & Nav. Co.....................
82
85
2%.
So. Carolina—IstM .,6s,1920..A&O 96
1%
97
Atlantic & Paciflo.......................100 10*4 10%
do
pref........... ........................
2d mort., 6s, 1931...................J&J
72% Augusta & Savannah, leased.. . 100 129 131
Fort Wortn & Denver C............100
44% 45%.
Income 6s, 1931............................
13
Galv. Harrish. & San A n ton io.......
15
Baltimore & Ohio....................... lo o 105 108
52
16
19
So. Cen. (N.Y.)—Consol, mort., 5s..
58
Georgia Paciflo..................................
125
do
1st pref., 6 ___100
South. Kansas—1st, 5s, 1926..M&S 95% 96
Georgia Railroad & Bank’g Co. 100 193 194
do
2d, pref................. 110 117
5
90%
12
TexasD jv., 1st, t s , 1926....M&S 90
Grand Rapids & Indiana................
Parkersburg Branch............... lo o
7
3
Income, 6 s . .. ...............................
80
8
8%l
Green Bay Winona & St. Paul.. 100
80% Beech Creek.................................. 50
20
Bo.Pao, CaL-lat, 6s, g.,1905-12 A&O 111
12
do
do
P re f.... 100
do
pref............................50
So. Pac.,Ariz.—1st,6s,1909-10. J&J
20
27
Houston & Texas Central........ 100
Bell’s Gap.................
50
So. Pac.. N. M .~ 1st, 6s, 1911 .J&J 106
Belleville & So. 111., p re f...
Huntingdon & Broad T o p . ........50 ft 13% 14%
80
75
Staten Isl. Rapid Trans.—1st mort.1
36
do
do
P r e f...50 ft 35
ib e 197 198
Steuben. & Ind., 1st 6s, 1914..J&J 105% 107
TOO
Illinois Central............................IOC 117 118
Stock. &Cop —1st, 5s. 1905. ..J&Jj
i*5
do
do
Leased line, 4 p. e. 100 94
100 1*05 105%
Summit Br.—1st, 7s, 1903
.J&J 103 105
15
....
Indiana Bloom. & West.,ass; pd. 100 13
26
Sonb.Haz.&W-B.—lst,5s,1928M&N 103 104
70
Jeli’ v. Mad. & Ind’p’s, leased..lOu
100 155% 156
2d mort., 6s, 1938...............M&N
3
Kauawha & Ohio..............................
100 210% 211
99*4
Susp.B.&ErieJunc.—IstM .,7s........ 105
do
1st prsf................
97
99
10
Id
Boston & N. Y. Air-Line, pref.
Byr.Bing.&N.Y.—consoles,’06A&0 130 132 j
do
2d pref.. . . . . . . . .
5
100 243 244
Price nominal, t Purchaser also pays accrued interest. { In London
||Coupon o ff. § Price per share, c In Frankfort,
a
la Amsterda n ..
THE CHRONICLE.
34
GENEKA.L QUOTATIONS
Bid.
R a i l r o a d St o c k s .
A sk.
M is c e l l a n e o u s .
OF
Bid.
STOCKS
Ask.
AND
IV o l , X L V I .
BONDS — C o n t in u e d .
Mis c e l l a n e o u s.
Bid.
Ask.
M is c e l l a n e o u s .
Bid. Ask.
....... C O A L A M IN IN G
G O LD A S IL V E R
B R . STOCKS.
36
M IN IN G STOCKS§
S T O C K S , N .lf.
CONTINUED.
37
72%
C
(N.
Y. & SAN. FRAN.)
Kan.C.Ft.8cott&G.100
34
34% Alice............... ..............
•70
14% C
do
Prof
2
4
25%
63
C
Alta
Montana........100
K an s.C .M em .& B . IC O
25
29
103 C
A m ie ........................10
11
12
Barcelona............
•50
L10% B
10
M
Bassick................... 100
Coal.
Kan. City & Omaha...
......
M
13
15
Bechtel..................
Keokuk & Des M..100
•60
Belle Isle...............100
9
N
do
pref.. IOC
1*6 ' Bodie......................100 2-60 2-80
**13
....... N
...... s
Keokuk & West..........
26
Bulwer....................100
27
124 L25 0
.... s9’west.,Ga., g d ,‘
28
Kingston & Pembroke,
1-50 1-80
........ p
Caledonia B. H ___100
3 Bing. & N. 1
14% 15% jyr.
***«% 10% Consol. California. 100 22-50 23-50
Q
10% 11
Branch,]
45% Summit
a
do.
Pref, 45
34
&
........
33
•55
pref.
100
50
47%
Chrysolite................
do
S
94 % 95
72
T
28
28% Chollar................... 100
55
55% 1
•10
•23
Consol. Pacific___100
24% 25% V
........ I
Crown Point..........100
...... ,
6164 165
Ï
•95
Dunkin................. .
30
62 ....... 1
Tol. & Ohio Central...
140 145
5-75
Eureka Consol___100
52
j
48
do
Pref.
106 108
89% 91
213
f
Father De S m et.. 100
70
........ ........
67
Gold Stripe.......... ,
571« 57% v
........ ........ Onion Pacific...
125 131
do Pref.
Goodshaw.............. 100
10
9
du. Evans. &
'
1
Gould & Curry S..100 4-90
117
24
1
22
do.
AN D BON DS.
•05 •10
Green Mountain___10
134% 135
6078 61% 1
72
75
Hale & Norcross. .100 12-50
%
Vioksb.
& Meridian..
40
1
35
48
55
•82
Horn Silver..........
%
123% 125
do
pref..
Independ -n oe.......100
40
1
Virginia
Midland.......
’
208 212
General mort. cert..
1% 3
2-70 3-00
Iron Silver.............. 20
ash Pur. com.cer * 15 *
93
95
•10
•11
•»Crosse.................. 10
27% 28% I
do
Pref.lOi
10
20
97 104
•26 •30
■eadville Consol. . . . 10
128
70
85
’
do
........
(
.ittle C h ief.......... 50
6 59
51
55
*25** *3*3“ Little Pitts..................
S........ 50
I
13% 14%
90
95
Mexican G. & Silv.100 5 0 0
14
<
lj
8% Western Maryland— * VS
7
98 102
Bonds.
4i%
Navalo . . . ............100
48
23 ........ ’Wheeling & L.Erie 10(
........ 100 157 162
9-50
Ophir..... ................. 10
Wil. Columbian Aug.
3 86%
I.
Y.
Mutual
Un.
Tel..
‘
.
.
.
.
1
Potosi. ..................1 00
Wilm. & Weldon, 7.10( ......
j
25
84
85
Mutual
Union
6s___
•17 •20
Rappahanock............1
16% *17 "
Wisconsin Central. . .
81
3 78
100
Red Elephant.........10
32
J
30
3 100% 103%
do
Pref
do
pre
%
Robinson Consol.. 50
•45
Vorc’ter&Nashua. 10(3 X 128 132
-Mil. & Northern.
30
25
Bonds, 1st 6s
500
Sierra N evada...... 100
64% C A N A L B O N D S.
3 § 63
25
28
Silver Cliff...............50
92% j
7%
[)
6%
15
215
J .
Standard............... 100
17
0 15
do
72
80
Union Consol........ 100
I 106% Vói
[) 17% 18% Del. & H 77%
77%
Î 106
) 88
lst ext.,
7s, 1900, M. & N ... ......... 117
BO STON M IN IN G
3 H 3%
9%
0
9
TELEPH ON E
ST O C K S.§
3 140
0 ........
STOCKS.
Allouez.................... 25
1%
108%
1
108
1%
135
Lehigh
Nav.U 135
202
203
12% 13%
Atlantic...................25
F 113%
RR. 6s, reg
77
5 75
100
4
6
Brunsw’k
Antimony.
5
8
........
Conv
6s,g.r
0
29% 30
Calumet & H ecia...25 189 190
3 112 113
6s,g.,cp.&r<
0$ 53%
75c. 87%c Catalpa Silver........ 10
30o.
320.
3
120%
5
New Jersey <&N. Y __
39% 40
15
25
Central.................... 25
0 72%
do
P re'\
50o 70e. Franklin.................25
14% 15
%
1% Schuylkill Nav.—
JN. Jersey Southern..
E L E C T R IC
4%
4%
H uron..................... 25
1st M., 6s, 1897.Ç
L IG H T STO CK S.
$2
$4
Minnesota...............25
50
2d M.,6s, 1907..J J 45
0 107 107%
55
70
$2% $3
National.................. 25
J 48
0 16% 17
85 100
21% 22%
O sceola...................25
^ ......
68
3 67
•vdo
180
2%
3
Pew abic.................. 25
^ ......
33
0 31
do
90 100
60
61
^ ........
Quincy......................25
30
40
$1% $2
Ridge........................25
0 212
J ........
80
95
J ____
Tamarack............... 25 124 125
Ö 103% 103%
T R U S T C O .’ S
M AN U F A C T ’ IN G I
0 2778 28
S
T
O
C
K
S
,
N
.
Y
.
STOCKS.
o ........
0 ......... ........
do
Am. Loan & Trust. 100 105 112
Am.
Linen (Fall Riv.) 750 800
105
0
103%
37%
;N.E
<3 37%
280
dyn Trust ...ICO
Amory (N. H .)---- .100 104% 105
0 6........
0 113% 115
do
Amoskeag (N.H.) 1000 1700 1705
0 Ì 47
0 214 220
440
Androscog’n (Me.).100 x ll3 115
0 ........
0 16% 17
140
133
Appleton (Mass.) .1000 645 650
6 200
N. Y. Penn. & Ohio
155 160
Atlantic (Mass.).. .100 x lo 8 109
o ........
do
Pr t’ . . . . . .
195
210
97% 100
Bamaby
(Fall R iv.)...
Ô
6........
15
Ö ........
159 164
78
82
Barnard Mfg. (F. R .)..
7%
9
0 i 5
8%
do
115
x
l2
0 122
Bates
(Me.)............100
i 28% 29%
do
560 585
Boott Cot. (Mass.) 1000 1330 1340
B O N D S.
2
Union......................100 450
Border City Mfg. (F.R.) 125 130
4 ........
16%
0 16
United States........ 100 550
Boston Co.(Mass.)1000 1140 1160
5. I l l
0 42% 43
do
Boston Belting___100 158% 159
s 99% i d o ' N . Y . A B B ’ R L Y N
Col.Coal& Iron0 6 75%
Boat. Duck (Mass.)700 900 1000
H
O
R
S
E
B
B
S
.
y
lo
o
100%
0 6x85
94
Chace (Fall Riv.) .100 90
(See L oca l Securities in
8 101
0 139 140
Chicopee (Mass.) ..100 xl0 7 109
chronicle
each
w
’k
,
1
103
22%
0 22
Cooheco (N .H .)....500 475 500
except fir s t o f m onth.)
0 94% 95
46%
do
0 46
7
7%
Collins Co. (Conn.).. 10
J 108% 110%
0 x l7 0 172
Continental vMe.). 100 39% 40
GAS STOCKS.
13
0 10
70
Cres’t
Mills
(F.
R.)
100
Balt.
Consol.
Gas........
55%
56
. 96
97
0 23% 24%
Crystal Spr. B1.(F.R.). ........ 50
Boston G aslight...500 830 835
Pullm’n Palace Car—
80
do
0 t 78
Davol Mills (F. R.) 100
East Boston . . . . -----25 X 37
38
A ........
4th do 8s,’Í
0
10% 12
Dougl’sA xe (Mass) 100
R oxbu ry............... 100
0 ........
0 x173 175
Dwight (Mass.). . 500 x700 710
South Boston........100 115 120
15
St. I*
.
15
70
Everett (Mass.)... 100 69
Brookline,
Mass...
100
X
97
100
0
1133
21%
136
. 20%
F. R. Machine Co.. 100
Cambridge, Mass..100 174% 175
Tenu.C.Ál.,con.6s.
-Oswego & 8yr., guar.
F.
R.
Merino
C
o...
100
110
Chelsea,
Mass.......100
113
South
«Pitts,
1st,
6s.
54%
100
0 § 54%
Flint Mills (F. R.) 100 29 101%
Dorchester, Mass.. 100 108 110
7
6
93
Franklin (Me.)___ 100 X lO
Jamaica Pl’n,MasslOO 156 160
s
0 22% 22%
Gl’be
Y.MiIls(F.R.)100 112
Lawrence, Mass.. .100 1TI25 127
STOCKS.
¿Petersburg.
55%
0 54
Granite
(F
.R
.)....1000
235
xl9
3
197
L
ow
ell................
..100
..
23
30
0 5 25
90%
Great Falls (N. H.)100 x90
Lynn, Mass., G. L..100 114 116
is 31
0 6117
Hamilton (Mass.) 1000 x725 740
0
7%
7% Maid.& M elrose... 100 106 109
0 64% 64%
196
Hartf. Carpet (Ct.)lOO
0
7%
do
7% Newton & Wat’n ..100 140 143
0 §.......
79
Hill (Me).................100 x77
7% Salem, M ass.,. . . . . 100 109 111
7%
0 6 65
Holyoke W.Power. 100 220
5
45j
4% Brooklyn, L. 1.........25 100 103
25
0 6.......
970
980
J-tekson
(N.
H
.)..1000
Citizens’ , Brooklyn.20 50
55
>0 45
43 .......
King Philip (F. R.) 100 102
Metropolitan, B’klyn. 75
80
f. 210
7 150
Laconia (Me)......... 400 470 475
5%
5% Nassau, Brooklyn ..25 95 100
East Boston Land.
jPittsb. & Western.
33
Lancaster M.(N.H)400 570 580
62
60
People’s,
Brooklyn.
10
8%
Frenchman’s
Bay
Ld.
6 x1 1 6 118
8%
L’rel Lake Mills (F. R.
Wilfiamsb’g, B’klyn 50 112 115
Keeley Motor..
8
a
2
Lawrence (Mass.)lOOO 1540 1550
Charlest’n,S.C.,Gas.25
18
0
9
11
o x l0 7 108
Lowell (Mass).......690 x700 710
0
3%
3% Chicago G.& Coke. IOC 210
0 160 165
Lowell
Bleachery.200 Xl40 143
38%
39
Chicago
Gas
Trust___
„
X
92
93
10
i.
5
705 715
5 40o 60c. Cincinnati G. & C oke. 179% 182%
K3 125
70
70%
25
Hartford, Ct., G. L..25
0 .......
do
•0 135 ____
x l4 2 144
Jersey C.& Hobok’n 20 160
do
Land scrip
do
6 . .. 125
1030
1020
Mass.
Cotton.......1000
70
People’s, Jersey C
t. 46
47
K3 110 114
88
Mechanics’ (F. R.) 100 85
109 110
Louisville G. L ...
0 89
90
.. 22% 22%
110
Merchants’ (F. R.) 100
60
Central of N. Y .......50
0 35
do Pref.
36
55
54
1135
1125
Merrimack(Mass)
1000
75%
741«
Consolidated,
N.Y.
100
3.
98
3. 95 100
Metacomet (F.R.) .100
110 121
K) 140% 141 ’ Equitable, N. Y .
Rome & Decatur.
Middlesex (Mass.).100 x l7 5 180
94
90
Mutual of N. Y ---- 100
.. 52
53
85
K> 83
90
Narragans’tt(F.R,)100
85
N. Orleans G. L. ..100 81% 83
3f {104 106
•0
7
7%
Nashua (N. H .)---- 500 495 500
70
Portland, Me., G. L.50 65
3. {50
52
do
0 38% 39
100
Nanmkeag (Mass.)lOO x98
70
St. Louis Gas Tr... 100 69
.. {106 110
12
1...........
95
N. E. Glass (Mass.)375 85
Laclede, St. Louis. 100 118
). 70
75
38
0 34
Newmarket........500 x305 315
o ....
do
108" United Gas Imp., Phil.
80
<3 70
1650
1640
Pacific
(Mass.)...
1000
Wash’ton
CityG.
L.20
15
.) 24% 24%
.. 13
$ In London.
§ Quotation per share.
1f New stock
Price nominal : no late transactions.
t Purchaser aleo pays accrued interest.
it.
i L. Van. & T. H .......
4
it. Louis & San Fr.100 34%
do P re f... .100 71%
78
77%
do 1st pref.100 112
.35
133
52%
a
it.
Paul
& Duluth.100 61
51%
do
Pref.100 100%
79
78
St.
40
i P.Miun. & Man.100 109%
30
5
5
..... a
Scioto Valley—
Seab’d & RoanokelOO
5
8
é
23
3
January
7, 1888.J
THE CHRONICLE.
G EN ERAL
F or
QUOTATIONS
E x p la n a tio n s
OF
STOCKS A N D
S ee N o te s a t H e a l o f
F ir s t
U3
BONDS— C on clu d ed .
Page o f
(¿ n o ta t io n s .
Bid. Ask.
B a n k St o c k s.
Bid. Ask.
B a n k St o c k s .
Bid. Ask.
I n s u r a n c e St o c k s .
Bld. A sk .
Pepperell (Me.)__ 500 1050 1060 Continental N a t...100
120
Park........................100 167 171
H a r tfo r d , C o n n .
Pocasset (F. K .)... 100 112% 115
First National.......100
People’s.................... 25 185
. .Etna Fire............ 100 x243
Rich. Bord’n(F.R.) 100 72% 75
Port Dearborn N at__
Phenix....................20 1 2 0 %
. Connecticut. . . . . . 100 XllO
Bobeson (F. Riv.) 1000 __
100
Hide and Leather. 100
Produce Exchange .. 110 112
Hartford.............. 100 x'ítO 285
Sagamore (F. Biv.) 100 105 108
Merchants’ Nat.. .100
Republic................. 100 138
.
National............... 107
130
8almonFalls(N.H.)30o x245 26o
Metropolitan Nat. 100
Second National.. 100 230
■
Orient................... 100 x75
30
Sandw. Glass (Mass.) 80 25
Nat, Bk. of A m er..l00
140
Seventh Ward.......100 115 125 Phoenix...........
100
xl8
5
195
85
Shove (Fall Biv.). 100 80
Nat. B’k of Illinois.lOO
150
Shoe & Leather___100
Steam Boiler........ ..5C $75
Slade (Fall B iv.).. 100
50
Northwestem Nat. 100
128
St. Nicholas.......... IOO
L on don , E ng,
Stafford (FallBiv.) 100 1*0*5
UnionNational___100
State of N. Y „ ___100 115 125
Commercial Union. £ 5
22
23
Stars Mills (N.H.)1000 1150 1)60 Un.Stock Y ’ds Nat.100
200
Tradesmen’s........... 40 101
■ Guardian............... , 50
73
75
Tecumseh (F. B .). 100 ICO 105
C in c in n a t i.
United States Nat.100 210
159
•
Imperial
Fire.......
..25
155
1110
1125 Atlas National............
Tbomdike(Mass.)1000
97 100 Western National....... 95
96
Lancashire F. & L ..25
6
6%
Tremont* S. (ftlass) 100 120 121
Cincinnati N ational...
55
P h i l a d e l p h i a .§
London Ass.Corp.12% 50
52
Troy C. <feW.(F.B.) 500 850
Citi zens’ National....... 173* 180
B’k of N. America . 100 350
.
Liv.
& Lond. &Globe.2
33
34
Union C.Mi. (F.R.) 100
222% Commercial Bank......
112
Centennial N a t.... 100 145 149
NortlTnFire & Life ..5
54% 55%
Wampanoag(F.B.) 100 100
First National............. 27Ó* 280
City National..........50
■ North Brit. & Mer .8%
39% 40%
100
Washingt’n(Mass.)100
Fourth National.........
175
60
Commercial Nat___50
Queen
Fire
&
Life
.
.1
3%
3%
Weed Sew. M’e (Ct.)25
German National....... 143 '
43
Commonwealth Nat 50
Royal Insurance.. ..3
37% 38%
Weetamoe (F. B.)100 *4 5 ' *55* Market N ational........
100
Consolidation
N
at..30
N
e
w
O
r
l
e
a
n
s
45
Willim’tic Linen(Ct)25 44
Merchants’ National.. 133* 144
Com Exchange Nat.50
. Crescent Mutual. 100 37
40%
York Co. (M e.)....;750 960 970
Metropolitan Nat.......
124% Eighth Nat............100
• 1 actors’ and T r .. IOC
59
B A N K STOCKS.
Nat. Laf. & Bk. of Com. 25*0* )275
First Nat............... 100
■ Firemen’s ............ 50 t>2
65
B a lt im o r e .
Ohio V alley Nat’l........ 127ia 132
Farmers’&Mech.N. 100
IOC u n
Bank ol Baltimore 100
75
Queen City National..
80
142
Fourth St. Nat’l..„1 0 0 105
• Hibernia............... 100 75
77
Bank of Commerce. 15
16*4 Second N ational. . . . . . 196 210
Independence........lOu
• Home.................... 100 75
Citizens’ ................... i o
Third National............ 143%
19
112
Girard National___40
Hope..................... 100
92 '
Com. & Farmers’ .. 100 110
Western German Bant 200 225
100
Kensington
Nat......
50
Lafayette........ .
50 7 i
75
Farmers’ B’k of Md.30 31
H a rtfo rd .
56
Keystone
Nat’l........5C
Merchants
’
Mutual
IOC
x
b
¿
54
Fanners’ & Merch. .40
¿Etna Nat............... 100 xlCO 108
59
95
Manufact’r’rs’ Nat. 100
Mechanics’ & Tr.. 100 104 106%
Farmers’&Planters’25
45% American Nat........50 x60
65
13J
Mechanics’ N at....100
New Orl’s Ins. Ass’n 30
14% 16
First Nat. of B alt.. 100
Charter Oak Nat.. 100 xlOO 106
127
Merchants’
Nat...........
- New Orl’s Ins. Co. . 50 22
25
Franklin...................60 90
City.........................100 x87
91
Nat.
B’k
Commerce.
50
•
People’s
................
.
25
German Am erican.... 100
Connecticut River 50 48
Nat.B’k Germant’n.50
mo
12T
H ow ard..................... l
11 % 12is Far. & Mech. Nat. 100 x lo o
107
Nat.B’kN. Liberties 50
• Teutonia............... 100 117 124
Marine......................30 37
First Nat...............100 x95
Nat. B’k Republic. .100
N ew Y o rk ,
Mechanics’ .............10
12
Hartford Nat........ 100 xl54 160 National Security. 100
140 150
Merchants’ ............ 100
132
Mercantile N at.. . . 100 X ___
90
Penn National.........50
Am erican............. ..50 150 165
National Exch’ge. 100
National Exchange. 50 x60
128
63
245
250
Philadelphia
N
at..
100
Bowery.................
..25
150 160People’s.................... 20 19
20
Phoenix Nat.......... 100 X ____ 125
Second Nat............100
- B roadw ay............ „ 2 5 165 190
Second National ..100 150
100 95
State..... .........
Seventh
Nat..........
100
Brooklyn..............
..17
110
120
Third National___100 109 110’s United States.......100 250
Sixth Nat............... 100
VW) 110 120
Union........................75 61
83
L o u is v ille .
Spring
Garden
.
..100
70
115
120.
Western....................20 31
B’nk of Commerce....... 122 123 Southwark Nat.......50
33
100 85
95
B o sto n .
Rank of Kentucky 100 161 162 Tenth Nat. Bank. .
..50
40
Atlantic.................. 100 133 135
Bank of LouisvillelOO 90
91
Third Nat............... 100
Commonwealth. .. 100 SO 100
Atlas....................... 100 114 115
Citizens’ National. 100 124 125
Western Nat............50
100 215 230
Blackstone............100 105% 106
City Nat................. 100 117 118
West Philadelphia. 100
„4 0 24Ó 250
Boston Nat............100 120 121
Falls City TobaecolOO Iti5 • 106
Empire City.......... 100 90 100
Boylston................. 100 130 131
P o r t la n d ) H e .
Farmers*of Ky ...100 109 114
Exchange............. 30 90 110
51
Cumberland N at.. .40 50
Broadw ay.............100 102
Fanners’ & D rov ..l0 0 102 101
Farragut............... 50 110 125
160
158
Banker H ill...___100 183 185
Canal
N
at.............
100
First Nat.......... . ..100 170 171
Fire Association .. 100 70 100
Casco Nat...............100 146 148
Central...................100 128 131
German Ins. Co.’s. 100 125 ,2o
Firemen’s ............ .17 80
90
City......................... 100 104% 105
First Nat................ 100 116 113
German................. 100 139 141
German-American
100 300 320
121
123
Merchants’ Nat.......75
Columbian..............100 127 123
German National. 100 143 145
Germania.............. 50 145 160
140
138
National
Traders’
.
100
Commerce........... 100 120 121
Kentucky Nat.......100 132 133
Globe............. . ...... 50 110 125
Commonwealth.. . 100 137 137% [jouisv. Banking Co.40 255 257
R ic h m o n d , Y a.
Greenwich.............
200 215
Continental.......... 100 119 I 20
City Bank.............. 25 29%
Masonic.................. 100 138 139
Guardian...............
100 50
70
Eagle...................... 100 101 102
First Nat............... 100 133 137% Hamilton.............. .15 110 120
Merchants’ Nat. ..100 140 14l
Eliot........................100 129% 130
Merchants’ N a t... 100 125
Northern of Ky ...1 00 124 126
50
130
Hanover.................
135
Everett................. IOC 94
119 120
96
Nat. Bk of VirginialOO 105
Home..................... 100 130 140.
Exchange...............100 125 125%
115 116 Planters’ Nat........ 100 145
Howard.................. .40 50
60.
Faneuil Hall........ 100 139 140
117
169 170 State Bank of Va.100
Jefferson................ 30 110 120
First National.......100 220 225
140 141
St. L o u is .
Kings Co. (B’klyn) .20 180 200
First Ward............ 100 127 130
Western.................100 116 118 B’k of Commerce.. 100 460
Knickerbocker... .30 78
82,:
Fourth National.. 100 112% 113
N e w O r le a n s .
Commercial.......... 100 325
Lafayette (B’klyn) .50 75
90
Freemans’ .......... .. 100 90% 91
X137
160
92
Continental...........
100
Liberty...................
100
100
Globe...................... 100 91% 92
68
70
Franklin...,.......... 100 175
Long l8l’d (B’klyn; .50 90 100. Hamilton................100 121% 122
157
Fourth National ..100 260
Manuf. * Builders’ 100 115 130
Hide & Leather. . . 100 114% 115
Hibernia
Nat........
100
151
90 100
International........100
Mechamos’ (B’klyn) 50 70
80
Howard.................. 100 106% 107
155
126
Mechanics’
.............
100
Mercantile............. .50 55
128
70
Lincoln...................100 108% 110
x ll6 % U9% Merchants’ N a t. ..100 112
Merchants’ ............. .50 70
90
Manufacturers’ .. .100 93% 95
127
Montauk (B’klyn).. 50 8 > 87
St. Louis National.100 130
Market...................100 87 ■88
490
Third National___100 112 113% Nassau (B’k lyh )... .50 135 147
Market(Brighton). 100 140 143
62% 65
National................37%
90 L05i
San F r a n c is c o .
Massachusetts___250 103 104
106 107% Bank of California___
N. Y. Equitable___ 35 150 160
Maverick............... 100 222% 225
113
112
%
New York Fire___ LOO 75
First Nat. Gold___100
9a
Mechanics’ (So.B.)lOO 140 150
N ew Y o rk .
Grangers’ B ank.,___
Niagara.................. .50 150 165
Merchandise......... 100
98% 99
100 174 180
North River........... .25 95 LOO
Pacific......... .................
Merchants’ ............ 100 138 138%
140 142
Pacific..................... .25 165 178Metropolitan.........100 115% 115%
257
Park....................... LOO 60
85F I R E IN S U R ’ CE
Monument.............100 219 220
160
S
T
O
C
K
S
.
Peter
Cooper........ .20 160 L70Mt. Vernon............ 100 133% 134
129 135
B a lt im o r e .
People’s.................. .50 90 LOO
New England....... 100 147 147%
„1 0 0 205
Associate Firemen’s .5
7%
Phenix (B’k ly n ). . . .50 100
[03 .
8
North...................... 100 131% 133
...2 5 215
140.
Baltimore Fire Ins. 10
Rutgers’ ................. .25 130
27
North A m erica.... 100 102% 103
<
3100 3500 Firemen’s Insur’e e . 18 1«
LIO
100
50
18
Standard.................
OldBoston............... 50 58
53%
.100 300
Howard Fire..............5
5%
70
sa .
Sterling.................. 100
7
People’s ................. 100 162 163
140 150
4%
Maryland Fire........ 10
Stuyvesant............. 25 110 L24
Redem ption..........100 128 128%
168 170 National Fire.......... 10
150
5*4 United states........ 25 140
Republic................. 100 138 139
120
Westchester........... 10 140 , L50
B oston .
Revere....................100 125 125%
;05
American F. & M. .100 115 120
Williamsburg City. .5* 260 285
Rockland............. .100 147% 148
130
Boston....................100.
x i3 7 140
Second Nat............ 100 152 152%
150
93
100
Boylston................
»5
Security..................100 185 195
1550
Dwelling H ouse... 100 90
92
Shawnmt................100 124% 125
P R IC E S
OF
EXC HAN RE
L45 Eliot..................„..1 0 0 125 127
Shoe & Leuther___100 99
99
]
165*
M E M B E R S H IP S .
Firemen’s .............100 180 , 183
State........................100 115 115% 1
750
39%
Manufacturers’
.
.
.
100.
40
Suffolk.....................100 115 116
C
-.50 200
Mass. Mutual........ 100 X115 117
Third Nat...............100 100% 101
(
200
¡Mercantile F. & M.100 125 126
Traders’ ..................100 93% 94
(
115
NeptuneF. & M ...100 85
87
Tremont................. 100 101 102
(
200
N.Y. Stock..................... 19.000 ask.
North American ..100 93
99
Union......................100 141% 142
(
115%
Last sale, Jan. ’88.. 18,OOJ
95
Prescott............
.100
100
Washington........... 100 121% 122
I
180
N.
Y. Co usol. Stock& Pet.
«75 bid.
Washington..........
100
89
90
Webster................. 100 101% 101% I
335 345
Last sale, Jau. 5 .... 1,000
C
in
c
in
n
a
t
i.
B r o o k ly n .
f
150
1.750
ask.
N.Y.
Produce................
Amazon(new stock) 20
101
Brooklyn................ 100 140 ........ I
190 205
Last sale, Deo. 2 0 „ I,7 i0
A urora.,...................20
110
First National....... 50 315 ........ ft
160
166
N.Y.
Cotton...................
1.500
ask.
Cincinnati.................25
150
Fulton................... 40 160 ..... a
170
Las , sale, Jan. 3 __ j, 00
Citizens’ ...................20 145 160
City N ational....... 50 325 ........ a
164 170 Commercial............. 25 230
650
ask.
N.Y. Coffee.....................
Commercial.......... 60 150 ........ a
Last sale, Jan. 4 ...
600
-25 *140
Eagle.......................100
ido
Long Island......... .100 118
.... a
147 149
B’l Est.Exch.&Auc.R’m 1,100 ask.
Enterprise................20
Manufacturers’ ........
128 ........ a
141 145 Eureka...................... 20 220
Last sale, Jau. 5 ___ 1,065
Mechanics’ ............ 50 225 ........ a
Boston S tock ................ 15.000 bid.
115
90
Farmers’ Ins. C o .„2 0 85
Nassau....................100 210 220 ft
17
20
Last
sale, Dec.20.. 15.000
Fidelity...................100
105
110
C h a r le s t o n !
JS
150 155
Firemen’s ................. 20
152% Philadelphia Stock....... 3.500 ask.
B’k of Chas.(NBA) 100 133 ........ ^
212
Last
sale,
Deo. ’87 . 3,oOO
104%
Germania.................
20
108
First Nat. Chas.. .100 2c 0 ........ 5
115 125
Chicago Board of Trade 1,800 ask.
Globe.........................20 100 102
People’s National. 100
215
5
200
Last
sale,
Nov. 26.. 1.750
Merchants’*
Manuf
20
217%
C h ic a g o .
N
130
Miami Valley.......... 50
90
American Exch. Nat.. 110 112
S
120
National.................
100
150 160
Atlas National..........
112
»
130
Security................. 100 100 % 104
Chicago Nat. . . . . . . 100 160 ........ 0
185
Washington..............20 130 135
Commercial N at... 100 175 ........ 1F
162 170
W estern................. .25
175
M antjfac ’ in g S t o c k s
* Prh e nominal; no late transactions.
î Last price this week.
§ Quotations per share.
[V ol. XIA L
THE CHRONICLE
36
L a test E a r n in g s R eported.
%wû£simmt
W eek o r Mo
Railroad fwMlipncie.
The I nvestobs’ Supplement contains a complete exhibit oj
the Funded Debt o f States and Cities and of the Stocks and
Bonds of Railroads and other Companies. It is published
<on the last Saturday of every other month—viz., January,
March, May, July, September and November, and is fu r
nished without extra charge to all regular subscribers of the
Chronicle. Extra copies are sold to subscribers o f the
C hronicle at 50 cents each, and to others at $1 per copy.
RAILROAD EARNINGS.
Gross Earnings to Latest Dates.—The latest railroad earn
ings and the totals from Jan. 1 to latest date are given below
for all the railroad companies from whom reports can be ob.
tained.
L a test E a r n in g s R ep orttd .
Jan.
1 to
L a test D ate.
1886.
g*
$
$
$
Allegheny Val. . November. 173,830 160,623 1,850,060 1,655,931
Atch. T. & S. Fe. November. 1,646,310 1,715,554 16,954,644 14,455,577
940,499
153,891 117,038 1,064,210
Atlanta & Char. O ctober.
41,214 2,558,050 1,532,172
58,530
Atlantic & P a c.. 3d wit Dec
Balt. & Potoma cl November. 128,816 118,192 1,326,349 1,235,019
554,230
689,470
53.961
81,814
Beech Creek__ (November.
72,400 . 65,900 2,812,654 2,573,221
Buff. N.Y. & Phil 4th wk Dec
1,445,612
2,000,405
44,490
53,639
4th
wk
Dec
Buff. Roch.& Pitt
76,104 2.764.504 2,702,634
63,917
Bur.C.Rap.&No. 1st wk Dec
658,815
760,148
17,216
17,860
Cairo V. & Chic 4th wk Dec
717,495
23,788 1.439.505
41,150
Cal. Southern... 3d wk Dec
644,920
569,498
31,810
34,618
iCamden & Atl’c November.
Canadian Paciiic 4th wk Dec 341.000 286,000 11,597,672 10,081,802
249,947
205,883
21,408
26,959
Cp.F’r&Yad.Val November.
50.962
57,173
Carolina Cent.. November.
6,414,387
5,900,898
109,995
Central of G a... 3d wk Dec 126,209
Central Iowa___ November. 139,897 123,845 1,219,874 1,196,888
Central of N. J October... 971,048 1,049,806 9,597,422 8,779,529
Central Paciiic October.. 1,333,101 1,141,081 11,190,643 9,940,703
10,385
10,213
Central of S. C. O ctober...
392,507
403,295
44,923
41,284
Charlest’n & Sav October...
11,233
10,968
Cheraw & Dari October..
3,755,867
4,099,351
358,551
November.
412,123
Chesap. & Ohio.
856,684
89,858 1,004,692
99,573
Eliz.Lex.&B.S. November.
Ches.O. &S. W.. November. 205,777 178,983 1,795,182 1,546,450
6,676
7,674
Ches. & Lenoir. O ctober...
Chic. & Alton.. Septemb’r. 842,062 777,414 6,489,535 5,756,160
59,897 2,194,783 1,677,046
Chic. & Atlantic 4th wk Dec » 63,248
1,979,301
Chic. Burl. &No. October... 192,888
Chic. Burl. & Q November. 2,382,965 2,256,339 25,448,822 24,359,976
2,058,307 1,782,200
40,914
44,003
Chic. & East. 111. 4th wk Dec
415,626
13,637
13,829
Chic. & Ind. Coal 4th wk Dec
25,366,16'
24,7*18,403
742,401
Chic. Mil. & St.P. 4th wk Dec 800.000
Chic. & N’tkw’n November. 2,650,190 2,362,609 24,949,163 23,174,294
64,231
62,128
7,131
5,160
Chic. & Oh. Riv November.
Chic, St.L.&Pitts November. 494,217 436,202 5,284,753 4,372,892
7,043
10,845
Chic. St.P. &K.C. 4tkwk Nov
Chic, St.P.M.&O. November. 718,933 636.122 6,344,018 5,589,767
30,627 1,408,195 1,390,809
28,648
Chic. & W. Mich. 4th wk Dec
Cin. Ham. & D. SeptembT. 301,241 281,947 2,458,209 2,157,986
61,429 2,444,135 2,354,586
62,030
Cin.Ind.St.L.&C. 4thwk Nov
466,886
401,222
8,052
7,864
Cin. Jack. &Mac. 3d wk Dec
56.090 3,271,766 2,774,684
64,804
Cin. N. O. &T. P. 3d wk Dec
30,803 1,517,295 1,169,136
Ala. Gt. South 3d wk Dec
34,463
678,396
631,390
19,369
16,373
N. Orl. & N. E 3d wk Dec
537,250
499,549
15,245
13,131
Vicksb. & Mer. 3d wk Dec
587,585
494,380
19.090
15,329
Vicks, Sh. & P. 3d wk Dec
6,592,292
5,569,139
140,597
3d
w’k
Dec
144,100
Erlanger Syst
402,678
372,215
8,192
7,476
Cin. Rich. &Ft. W. 3d wk Dec
96,967 1,082,191 1,028,202
101,135
Cin. & Spring’d November
40,988 2,151,552 1,947,478
42,247
Cin. Wash. &Balt. 3d wk Dec
545,359
523,554
9,111
10,038
Clev. Akron &Col 3d wk Dec
345,161
31,292
327,719
33,682
Clev. & Canton November
4,199,716
3,801,659
424,437 374.123
Clev. Col. C. & Ind November
309,579
274,520
8,226
9,779
Clev. & Marietta 4th wk Dec
18,736
Coeur d’Alene... November
323,811
6,962
310,748
6,290
Col. & Cin. Mid 3d wk Dec
68,961 2,716,779 2,361,403
69,105
Col.Hock.V. & T. 4th wk Dec
Denv. & Rio Gr 4th wk Dec 229,000 195,452 7,977,786 6,738,079
19,275 1,142,433 1,022,725
20,000
.Denv. & R. G. W. 3d wk Dec
435,574
28,807
217,475
31,000
Det.Bay C. &Alp. November
33,051 1,142,713 1,222,160
Det.Lans’g&No. 4th wk Dec
27,210
401,614
4,435
283,607
Det.Mack.&Mar. 3d wk Dec
11.219
97,258 5.158.006 4,135,419
E.Tenn.Va.&Ga. 3d wk Dec 120,763
234,814
5,439
196,771
4th
wk
Dec
6,265
Evans. & Ind’plis
15,579
868,937
759.379
19,274
Evansv. & T. H. 4th wk Dec
2,495,077
40,586
2,094,994
45,295
M int & P. Marq. 3d wk Dec
30,717 1,034,994
933,150
27,415
Fla. R.&Nav.Co. 3d wk Dec
717,635
8,139
445,481
14,655
¡Ft. W.& Den. City 4th wk Dec
28,341 1,227,154
819,797
33,395
-Georgia Paciiic. 3d wk Dec
45,769 2,294,832 2,033,121
38,834
Gr. Rap. & Ind., 3d wk Dec
Grand Trunk... Wk.Dec.24 345,771 373,850 17,749,509 16,820,127
36,725
420,967
316,904
34.377
Gn.Bay W.&St.P November
Gulf Col. & S. Fe November 387,200 280,313 2.572.007 2,039,525
ilous.&Tex.Cen 3d wk Dec
56.540 104,410 2,807,142 2,932,259
144,341
14,028
15,692
144,288
Humest’n &Shen November
SlLCen. (Ill.&So) November l,168,8t.r0 1,038,599 10,689,304 9,663,466
15,892
106,8 i|
159,126
Cedar F.&Min November
10.540
765,251
84,855
868,578
Dub.&SiouxC November
82,235
625,525
54,843
576,249
67,128
la. Falls &S. C. November
53,535 2,616,223 2,542,809
57,637
(End. Bloom. &W, 4th wk Dec
11,622
170,219
100.380
18,560
Ind. 111. & Iowa October..
381,094
42,511
387,801
33,298
Ind. Dec. & Spr. November
2,141,758
38,272
1,825,883
44,587
End. & St. Louis 3d wk Dec
38,624
402,173
252,459
35,492
Jack. T. & K. Wj November.
50,820 2,642,320 2,453,875
K.C.Ft.S.&Gulf. 3d wk Dec
42,178
40,965 1,975,823 1,508,869
37,932
Kan. C. Sp. &M. 3d wk Dec
253,311
4,005
230,673
5,028
Kan. C. Cl. & Sp. 3d wk Dec I
884,493
92,261
765,051
Kentucky Cent, October... [ 104,797
W eek or M o
1887
1886.
1887.
I Jan. 1
to La test D ate.
1887.
1886.
»
AND
R oads.
1887.
I
$
J
1886.
$
300,290
315,420.
6.777
6,469
Keokuk & West. 3d wk Dec
1,311
3.189
Kingst’n & Pern. 3d wk Dec
36,997
45,304
Knoxv. & O hio. O ctober...
49,121 1,973,502 1,707,873
53,804
Lake E. & West. 4th wk Dec
198,035
213,274
20,369
14.403
Lehigh & H ud... November.
749,462
823,300
24,303
20,815
L. Rock & Mem. 3d wk Deo
44,742 3,239,485 2,994,627
50,902
Long Island....... 4th wk Dec
401,223
439,806
50,960
53,136
Lou. & Mo. Riv.. Septemb’r.
839.953
17,773 1,008,043
27,809
Louis.Ev. &St.L. 4th wk Deo
13,978,734
16,026,181
Louisv. & Nashv. 4th wk Dec 442,000 377,665
50,510 2,246,978 1,881,260
56,262
Lou.N.A. & Chic. 4th wk Dec
99,395 2,213.233 1,803.782
96,419
Louisv. N.O. &T. 4th wk Dec
694,459
718.859
60,465
94,872
Lykens Valley.. November.
57,569
2,989
7,244
Mar. Col. & No.. November.
972,078
6,019 1,047,435
12,368
Mar.Hough. &0. 3d wk Deo
49,923 1,701,339 1,405,696
47,255
Memphis &Chas. i3d wk Deo
‘ Mexican Cent 4th wk Dec 196,250 156,726 4,879,524 3,857,706
155,836 144,022 1,599,000 1,588,323
*Mex. N. (all Ins) November
51,095 3,175,077 2,317,801
50,383
Mil. L. Sh. &West. 4th wk Dec
631,044
942,036
13,381
17,595
Milwaukee & No. 3d wk Dec
1,217,290 1,238,581
150,911
146,017
October...
Minneap. & St. L.
10,358
22,084
Min.St.Ste.M &A O ctober..
507,924
15,213 1,459,092
31,684
Minn.&No.West. 3d wk Dec.
422,715
489,801
18.151
18,405
Miss. & Tenn — 3d wk Dec
2,224,459
2,485,232
297,024
242,182
Mobile & Ohio . December.
Nash. Ch. & St.L. November. 259,625 213,769 2,780,435 2,170,826
674,202
677,102
84.945
86,974
New Brunswick. October..
N.Y. Cen. &H.R. November. 3,256,304 2,885,832 33,067,003 29,705,953
419,243
441,664
12,473
11,358
N.Y. City & N o.. Wk. Oct. 8
cN.Y. L.E. & W. November, 2,183,249 2,048,513 22,434,301 21,017,360
N.Y. & New Eng. November, 448,465 416,771 4,021,048 3,782,925
33,107 1,54 8,580 1,338,385
38,670
N.Y. Ont. & W ... 4th wk Dec
317,988
389,607
36,623
43,574
N.Y. Phil.&Norf. Septemb’r.
N.Y. Sus. & W ... November. 129,904 107,735 1,259,536 1,016,894
3,232,934
58.946 4,219,711
80,285
Norfolk & West. 4th wk Dec
447,549
454,663
57,471
55,108
N’theastm (S.C.) October
Northern Cent’l. November. 542,158 493,150 5,722,641 5.016.809
12,329,552
13,846,640
260,641
325,961
4th
wk
Dec
Northern Paciiic
60,531 4,124,075 3,827,831
70,446
Ohio & Miss.......4th wk Dec
195,465
330,316
4,453
7,100
Ohio River -----4th wk Dec
508,757
595,443
32,839
62,672
Ohio Southern. December.
2,448,724
3,403,250
303,983
431,819
Oregon Imp. Co October
Oreg. R. & N. Co. November. 616,057 519,182 4,816,408 4.941.810
Pennsylvania... November. 4,735,154 4,347,218 50,778,349 45,950,852
Penn. C om pa n y.
No. West. sys.. November 1,617,159 1,382,981 16,913,364 14,118,258
So. West. sys.. November. 1,216,501 1,092,250 12,954,754 10,836,385
814,746
858,540
26,964
27,525
PeoriaDec.&Ev. 4th wk Dec
326,177
326,276
28,300
31.404
Petersburg.......November.
3,407,310
3,708,294
Pliila. & Erie — November. 367,724 338,027
tPhila. & Read’g. October... 2,085,791 1,961,676 18,089,322 16,156,017
Coal & Iron Co. O ctober... 2,321,204.1,735,217 15,860,486 12,613,692
Tot.bothCo’s October.. 4,406,996 3,696,894 33,949,808 28,769,709
45,158 2,034,820 1,597,629
45,300
Pitts. & West’rn 4th wk Dec
257,413
266,251
35,201
30.659
P’rtRoyal &Aug. October...
30,670
37,748
P t.R ’al& W.Car. October...
R&W.P.Ter. C o Rich. & Danv. November. 445,387 421,974 4,020,814 3,720,077
Va. Mid. Div.. November. 144,256 137,087 1,519,215 1.445.817
716.139
784.581
85.161
93,675
C. C. & A. Div. November.
555,431
501,656
68,050
72,740
Col. & Gr. Div. November.
493,800
630,240
48,277
50,535
WestN. C. Div. November.
8.600
10,900
W.O. &N. Div. November.
38,21*8
6è‘,8Ï3
4,100
9,000
Ash. & Sp. Div. November.
Total all — 3d wk Dec 210,000 178,200 8,068,306 7,437,964
193,452
210,584
17,332
20,175
Rich. & Petersbg. November.
2,395,774
Rome W. & O g .. October... 315,991 299,343 2,672,196 1,825,883
38,272 2,141,758
44,587
iJSt.L.Alt. &T.H. 3d wk Dec
778,564
929,493
22,653
20,910
Branches....... 3d wk Dec
76,294 2,686,157 1,818.406
80,805
St.L. Ark. & Tex 4th wk Dec
4,874,627
6.215.579
St.L. & San Fran. 4th wk Dec 179,426 161,037
38,550 1,687,156 1,558.086
36,309
St.Paul& Duluth 4th wk Dec
St.P.Min.&Man. December. 905,264 700,161 8,745,227 7,427,339
500,766
23,184
75,919
November.
S.Ant.&Ar.Pass.
561,803
655,500
65,647
75,802
Scioto Valley— October...
73,814
71,499
November.
Seab’rd & Roan.
686*,339
83 i", 640
71,053
87,819
Shenandoah Val November.
South Carolina November. 119,674 113,609 1,094,494 1,022,630
So. Pacific Co.—
Gal.Har.&S.A, October... 355,540 220,236 2,741,098 2.140.818
521,268
689,034
52,011
81,198
Louis’a West.. October.
554,115 398,345 3,508,943 3,297,362
Morgan’s L&T, October.
128.989
141,833
17,729
16,633
N.Y. T. & Mex, O ctober...
801,097
86,785 1,040,046
Tex. & N. O rl.. O ctober... 122,125
6,889,535
Atlan’c system October.. 1,129,611 775,106 8,121,034 19,415,436
Pacific system October.. 2,669,820 2,200,706 22,055,1“ * 26,304,971
Total of all. October.. 3,799,431 2,975,812 30,176,158
So. Pac. RR.
1,335,421
No. Div. (Cal. O ctober... 162,778 170,541 1,447,398 •2,643,033
So. Div. (Cal. October... 492,397 245,110 3.419.580 1,261,328
1,352,639
127,472
143,148
October...
Arizona D iv ..
552,083
576,597
50,943
36,119
New Mex. Div October...
63,929
59,205
9,510
9,101
Spar. Un. &Col. October...
788,313
852.581
44,537
50,515
Staten Is.Rap.Ti December.
628,718
1,235,857
117,067
147,222
November.
Summit Branch
Texas & Pacific. 3d wk Dec 147,060 169,421 5,970,178 5,802,470
380.252
529,488
13.161
14.659
Tol.A.A.&N.M’h 4th wk Dec
838,454
29,958 1,079,554
31,333
Tol. & Ohio Cent. 4th wk Dec
857,151
933,163
22,749
19,847
Tol. P. & W est.. 3d wk Dec
Union Pacific... November. 2,597,585 2,351,431 26,313,894 23,936,643
570,977
601,160
61,106
56,793
Valley of Ohio.. November.
Wab. Western... 4th wk Dec 156,602 146,488 6,473,459 5,579,219
5,620,129
5,763,941
652,020
Wab.. E. of Miss October... 679,753
95,154 1,370,320 1,268,891
98,959
fWest Jersey— November.
550,461
604,218
73,145
81,057
Wil. Col. & Aug October...
588,114
744,169
19,182
22.659
Wheeling &L. E. 4th wk Dec
1,504,889
2,056,485
30,133
35,738
Wisconsin Cent’l 3d wk Dec
642,553
6,966
9,916
Chic. Wis. &M. 3d wk Dec
286.351
500,559
8,208
7,855
Min. St.C. & W. 3d wk Dec
615
Penokee Br. 3d wk Dec
190,272
288,189
4,928
5,424
Wis. & Minn.. 3d wk Dec
And branches.
* Mexican currency.
c After deducting earnings paid over to leased roads operated on a per
centage basis.
tNot including Central of N. J. in either year.
t
T[ Including Ind. & St. Louis.
Latest Gross Earnings by Weeks.—The latest weekly
earnings in the foregoing table are separately summed up
below.
January
7, 1888.]
THE CHRONICLF.
The reports of earnings continue generally satisfactory.
For the fourth week of December we have returns of thirtynine roads and they show a gain of 12 '75 per cent on last
year. Five roads report decreases.
4 th w eek o f December.
In crea se.
$
6,500
9,149
644
55,000
3,351
3,089
192
57,599
1,553
144
33,548
826
3,695
6,516
4,102
4,683
6,160
10,036
64,335
5,752
39,524
5,563
21,339
65,320
9,915
2,647
561
142
4,511
18,389
1,498
1,375
10,114
3,477
Decrease.
$
YEAR BEGINNING OCTOBER 1.
<
-------N ovem ber.------ > ,— Oct. 1 to
R oads
&
N. Y. Ont.
1,979
5,841
W est__ Gross .
Net..
1887.
131,873
18,486
1886.
108,549
13,212
1887.
277,229
48,757
f
$
65,900
44,490
17,216
286,000
59,897
40,914
13,637
742,401
30,627
8,226
68,961
195,452
33.051
5,439
15,579
8,139
53.535
49.121
44.742
17,773
377,665
50,510
99,395
156,726
51,095
33,107
58,946
260,641
60,531
4,453
26,964
45,158
76,291
161,037
38,550
13,161
29,958
146,488
19,182
.------ N ovem ber. ----- , i—J n l p I to N ov. 3 0 .—*
1887. 1886.
1887.
1886.
$
$
$
$
Louisv. & Nashville .Gross, i , 501,898 1,281,997 7,174,736 6,384,283r
N et... 626,282 530,858 2,945,640 2,690,62»
Oreg. R’y<&Nav. Co..Gross. 616,057 519,182 2,535,499 2,610,497
N et... 358,975 224,793 1,326,449 1,266,834
Tol. & Ohio Central . Gross.. 111,227
84,671
504,186
3 9 0 ,7 7 7
Net..
48,226
28,512
182,434
1 2 2 ,8 8 »
R oa d s.
O
CO
1886.
$
72,400
53,639
17,860
341,000
63,248
44,003
13,829
800,000
28,648
9,779
69,105
229,000
27,210
6,265
19,274
14,655
57,637
53,804
50,902
27,809
442,000
56,262
96,419
196,250
50,383
38,670
80.285
325,961
70,446
7,100
27,525
45,300
80,805
179,426
36,309
14,659
31,333
156.602
22,659
YEAR BEGINNING JU LY 1 .
£
Buffalo N. Y & Phila.......
Buffalo Roch. & Pittsburg.
Cairo Yin. & Chic. . . .___
Canadian Pacitto........ .
Chicago & Atlantic..........
Chicago & East 111............
Chicago & Ind. Coal........
Chicago Mil. & St. P au l...
Chicago & West Mich.......
Cleveland & Marietta.......
Col. Hock. Yal. & Tol.......
Den. & Rio G rande..........
Detroit Lans. & North__
Evansville & Ind.............
Evansville & T. H . .. .......
Fort Worth & Denv. City.
Ind. Bloom. & W e s t.......
Lake Erie & Western.......
Long Island.......................
Louisv. Evansv. & St. L ..
Louisville & Nashville ..
Louisville N. Alb. & Chic.
Louisv. N. O. & Tex..........
Mexican Central .............
Milwaukee L. Sh. & Wèst.
New York Ont. & West...
Norfolk & Western...........
Northern Pacific .......... .
Ohio & Mississippi...........
Ohio R iv e r ......................
Peoria Dec. & Evans.......
Pittsburg & Western........
Bt. Louis Ark. «¿Texas...
St. Louis <fc San Fran.......
Bt. Paul <fcDuluth.............
Toledo Ann A. <fcNo. Mich.
Toledo & Ohio Central ..
Wabash Western ..........
Wheeling <fc Lake E lie ....
1887.
37
1886.
2 2 8 ,5 5 »
33,645-
Covers only coal and mining operations.
G EN ERAL IN V E ST M E N T N EW S.
American Certificates o f Stock in England.—a caselately tried in the London court before Justice Manisty eeeme
to ne of much interest to the holders of American stocksabroad. Toe case is that of the London County Bank vs.
the River Plate Bank. It arose out of the frauds of Warden
and Watters upon the defendant bank, and the chief subject
2,976 at issue was as to the negotiability of Pennsylvania Railroad
712 shares with blank endorsements. Evidence was given that
they were negotiable according to the custom of the London
Stock Exchange; but, while admitting the market custom a»
proved, Justice Manisty held that it was not sanctioned by
law; that the necessary complement of the right of a holder
of such shares not in his own name to su-» was not fulfilled
and, therefore, they could not bs treated as negotiable instru
ments. Ia this, he relied upon the decision in “ Crouch vs. tho
2,241 Credit Fancier.” The London Times' money article says:
“ The result of the case appears to confirm the previous decisions^
arising from the Blakeway frauds, to the effect that'the form of certifi
cates adopted by American railroad companies, with power of attorney
indorsed in blank on the back, does not convey a sufficient security o f
title to make it thoroughly safe to lend money upon such securities in
Total (39 roads).,.......... 3,958,461 3,510,961
461,249
13,749 their present form. It is therefore evident that although a bank or a.
Net increase (12-75 p. c.)
447,500
Stock Exchange firm m aybe holders for value of American railroad'
share certificates, still, if they have been stolen, the real owner can fol
Net Earnings Monthly to Latest Dates.—The tables follow low and obtain them back without compensation. It is therefore clear
ing show the latest net earnings reported this week, the that large firms in the American market on the London Stock Exchange
running a considerable risk, for they may some day find themselves^
returns for each road being published here as soon as received, are
with £100,000 or more of stolen shares, which the real owner may fol
but not kept standing from week to week. The first state low.
In Amsterdam this difficulty was long ago understood and met b y
ment includes all roads for the latest month and from Janu- the creation of a body called the ‘Administration of American Railroads.’"
ary 1, 1887; following that we give the totals for the fiscal upon which the system of the English Association of American Bond
Shareholders is exactly based. The plan adopted by the latter asso
year on those companies whose fiscal year does not correspond and
ciation is a very simple one, but has not yet met with the support it de
with the calendar year.
serves. Under it American shares are first sent to the United States and
registered in the name of the Association, and then they are lodged with
YE AR BEGINNING JANUARY 1.
the London and Westminster Bank, and against these shares the Asso
<------- N o v em b er. -------- > ,— Jan. 1 to N ov. 30.-—\ ciation issues its bearer certificates, countersigned by the Bank. The
1887.
1886. <
1887.
1886.
owner
of the shares can receive them back whenever he wishes on re
R oa d s. >
$
$
$
$
turning the certificate. We hear that the subject has created great in
Allegheny Valley.....Gross.
173,830 160,623 1,850,060 1,655,931 terest in the Stock Exchange to-day, and that some of the banks h ive
N et...
77,349 6 ,348
724,043
616,640 intimated to their customers a desire to have the present faulty system,
Canadian Pacific........Gross. 1,286,237 1,073,286 10,454,672 9,187,702 changed.”
N et...
511,099 448,237 3,140,411 3,423,242
Boston & Lowell.—At B >ston, Jan. 4, the B ston & Lowell*
Chic. Burl. & Q...........Gross. 2,382,965 2,256,339 25,448,822 24,359,976
N et... 1,184,048 1,149,732 11,462,885 11,851,351 stockholders held their annual meeting and elected the
Or. Bay Win. <fe 8t. P..Gross.
34,377
36,724
420,967
316,003 following board of directors: Elwin Morey, T. J. Coolidge,.
N et...
9,450 11,905
................... E. E. Clark, Channing Clapp, W. P. M -son, A. Cochran an i<
Louisv. <fcNashv........Gross. 1,501,898 1,281,997 14,594,91112,699,829 W. A. Haskell. No annual report has been issued. President
N et...
626,282 530,858 5,676,378 4,983,430 Morey stated that ths road had been leased to the Boston &.
Louisv. N. Or. <fcTex..Gross. 296,228 241,501 1,912,828 1,531,406 Maine for a fixed sum and that the earnings had been equ A
N et... 124,619 110,153
553,297
416,459 to the rental. It will be regretted that a report is not ma let
Mexican Central....... Gross. 468,089 379,902 4,346,524 3,416,726
Central o f Georgia.—A.t Savannah, Ga., January 2, th*
Net.-.. 205,759 179,529 1,882,355 1,172,702
N. Y. Ont. & West___Gross. 131,873 108,549 1,430,683 1,239,830 annual election for directors was held. Fifty six thousv cT
N et...
13,212
257,864
18,486
189,529 shares in the total of 73,000 were voted, Thtre was but one
Ohio & Mississippi.. ..Gross. 337,328 325,654 3,782,446 3,530,913 ticket, and it was one named by the New York syndicate
N et...
82,563 103,809 1,323,827 1,069,642 which has controlled the company for a year past.
The
Oregon R. <fe Nav. Co.Gross. 616,057 519,182 4,816,408 4,941,810 directors elected were: John C. Calhoun, Walter Luttgen o f
N et... 358,975 224,793 2,150,751 2,122,096
New York; E. P. Alexander, Hugh T. Inman, Samue M.
Pennsylvania C om panyInman, J. J. Wilder, E. M. Green, Patr ck Calhoun, C. H _
Northwest. system.Gross. 1,617,159 1,382,98116,913,364 14,118,258
N et... 619,267 544,965 6,210,966 5,186,777 Phtnizy, J. K. Garnett, A. E. Mills, C. R. W j ids, Abr„ha n
Southwest, system..Gross. 1,216,5011,092,250 12,954,754 10,836,385 Yetsburg of Georgia; and H. B. Hollins of N jvv York.
N et... 271,765 257,259 3,419,801 2,548,065
Central Pacific.—The following is a comparative statement
Philadelphia <fe Erie..Gross. 367,724 338,027 3.708,294 3,407,310
Net .. 142,873 123,983 1,492,877 1,374,066 of the earnings, expenses and fixed charges of the company
Shenandoah Valley..Gross.
87,819
831,640
71,053
686,339 for October, and from Janutry 1 to October 31. The mileageN et...
130,309
10,109
112,759 is 1,410, against 1,331 last year :
4,963
* Summit Branch.......Gross. 147,222 117,067 1,235,857
628,718
.----------- October.----------- . ,-----Jan. 1 to Oe‘, 31.--—*-.
’N et...
31,973
1887.
1886.
1887.
188b.
120,825
19,030
8,645
Gross
earnings..........
$1,333,101 $1,141,081 $11,190,643 $9,940,703
* Lykens V alley. ...G ross.
694,459
94,872
60,465
718 859
705,706
539,202
5,869,247 4,682,715
N et...
6,638 def. 1,762 def. 99,895 def. 93.074 Operating expenses..
Toledo & O. Central. .Gross. 111,227
84,671
974,946
744,927
Net earnings............ $627,395
$601,879 $5,321,396 $5,257,988
N et...
327,983
223,041 Add rentals........
48,226
28,512
1,044
10,439
J a n . 1 to Oct. 31.
— - October. -------,
Total
net
in
com
e....
$628,439
1887.
1886.
18e7.
1886.
$5,331,835
R oa d s.
Fixed charges*............
455,808
4,588,735
$
$
$
$
California Southern..Gross. 124,622
67,522 1,199,798
564,032
Net
profits...............
$172,631
$743,100
N et...
39,561
13,202
500,393 def. 3,389 Construction & imprt.
25,219
178,115
Central of N. Jersey.Gross. 971,048 1,049,806 9,597,422 8,779,529
Net.-.. 406,416 474,427 4,519,863 3,724,314
Balance.................... $147,412
$564,985
Central Pacific........... Gross. 1,333,1011,141,08111,190,643 9,940,703
* Fixed charges include rentals, interest, taxes and U. S GovernmentN et... 627,395 601,879 5,321,396 5,257,988
Chesapeake & Ohio...Gross. 412,349 372,031 3,687,228 3,397,316 sinking fund, and rentals for leased lines.
N et... 140,430 128,380 1,163,227 1,044,515
Central Railroad of New Jersey.—The reorganization o f
Southern Pacific RR.—
this company has been one of the most successful yet ma le.
Nor. Div. (Cal.).........Gross. 162,778 170,541 1,447,398 1,335,421 The receivership of Messrs. Kennedy and H in is has been u ost
668,344
N et...
83,274
85,353
673,805
So. Div. (Cal.)...........Gross. 492,397 245,110 3,419,580 2,643,033 satisfactory. When they took possession on JaLUiry 1, 18'7,.
806,981 over $1,500 000 of iateie^t was in default, wuk also an mutbiN et... 210,156
68,866 1,160,245
Arizona Division...Gross. 143,148 127,472 1,352,639 1,261,328 edness of $750,000 to Mr. Little', the fo. mer rtceiver. Duiing.
556,959
N et...
31,024
48,699
541,034
552,083 the year this last indebtedness was taken up and all air«.a>&iNewMex. Div........... Gross.
36,119
50,943
576,597
264,052 of interest paid eff without issuing a single lectivei’o ce-tifLN et...
1,923
21,092
245,132
■38
THE CHRONICLE.
-catf. Of the old issues of bonds only about $5,006,000 remain
outstanding, and the <xebanges already made will effect an
annual savirg of $335,000 in charges. The new President, J.
-Rogers Maxwell, of the firm of the firm of Maxwell & Graves,
is known to be a capable and efficient financier, and Joseph S.
Han is of the Lehigh Navigation Company has been appointed
"Vice-President, and will give special attention to the interests
o f the Lehigh & Sutquthaanna Railroad. A full report of the
receivers will be found under the heading of “ Reports and
-Documents.”
[ V e t . X L \I
Dale, and R. E. Phillips of Marietta, O.; Daniel B. Scewart of
AtheLS, O. The officers elected were : President, Walter
Stanton; Vice-Président. William Edward Coffin; Treasurer
and General Manager, T. D. Dale. The reports of the Presi
dent and Treasurer show the finances of the road to be in a
very satisfactory condition. The net earnings of- the road for
the past year were $45,240; surplus, after paying interest on
bonded debt, $6,240.
Minneapolis Sault Ste. Marie & Atlantic—Canadian
Pacific.—Sault Ste. Marie, Mich., January 6.—“ The first
Chesapeake & Ohio Canal.—The interest overdue since Jan. through train cn the Canadian Pacific arrived here from Mon
•1, 1887, on the Chesapeake & Ohio Canal Company’s $493,000 treal yesterday with Sir Donald Smith, Manager Van Horn
and other Canadian Pacific officials onboard. It was met by a
o f repair bonds of 1878 is being paid in Baltimore.
special lrom Minneapolis with President Washburn, Manager
Cincinnati Jackson & Mackinaw.—Official announcement Underwood and Capt. Rich of the Sault Ste. Marie Road.
is made of the completion of the Ohio line of this railroad to The parties had a conference upon the question of establishing
Addison Juncticn, Mich. This forms a new through line regular through trains from Minneapolis to the seaboard.”
between Toleao, O., Allegan, Mich., and Carlisle and Cincin
N. Y. Central & Hudson.—The directors met and declared
nati, O.
only the usual 1 per cent dividend for the quarter ending Dec.
Delaware & Hudson Canal—Rutland Railroad.—The Rut* 31 the first quarter of the fiscal year.
The statement
"land Railroad has for maliy passed into the hat ds of the Delaout (paitiy estimated in 1887) shows net earnings equal
v ware and Hudson people. At a directors’ meeting all the given
to 1-84 per cent, or a surplus over the 1 per cent declared of
. Rutland directors, with the exception of P. W. Clement and $750,717. The gains over the quarter of 1886 are $869,000
-George H. Ball, the foimer representing Vermont and the gross earnings and $37,000 net earnings.
The statement
latter Boston interests, handed in their resignations, which
were accepted, and their places were filled by members of the was as below given:
A ctu a l, 1886.
E st. 1887
P er cent.
P e r cent.
Delaware & Hudson directory. Mr. Clement will become
$9,021,256 20
$9,990,000 00
Gross earnings........
-President of the Rutland for the coming year.
5,458,749 00
6,390,000 00
60-51
Oper, expenses..........63‘96
'Dividends at Fall River.—A press dispatch reports: “ The
$3,562,506 76
$3,600,000 00
Net earnings.......
'total dividends in 1886 showed $1,047,550 paid by 33 torpora- First charges.............
1,957,200 00
1,955,000 00
' tions on a capital stock amounting to $16,118,000, aDd not in
$1,605,306 76
$1,645,000 00
01-80
Profit.. . . . . . . . . . . . 01 ‘84
cluding the Pocaeset Mill, which paid no dividend. The total
894,283 00
894,283 00
01-00
*dividends of 1887 show that 34 corporations, including the Dividend Jan. 15.......01’00
$711,023
76
Conanicut, Ana wan and Fall River manufactory s, which
$750,717
00
Surplus.
declared dividends, paid on a total stock of $17,768,000 divi
Northern Pacific.—The Philadelphia Press says of this
dends amounting to $1,458,540, or about 8 1-5 per cent.”
road : “ The Northern Pacific Railroad Company will pay out
llubuque & Sioux City.—The Dubuque & Sioux City Rail nearly $6,000.000 in cash this month. The ordinary payments
way makes this statement of its relation to the Cedar Falls & at this season are the interest on the $46 878,000 general first
Minnesota bor ds:
mortgage bonds and the interest on the dividend scrip. This
“ The Dubuque & Sioux City Railroad Company be year, however, some extraordinary disbursements will be
lieves, upon evidence all discovered since the election of the made. The dividend scrip, amounting to $4,640,821, fell due
new board in September last, that the contract of lease in January 1. About $1,600,000 was received under the offer
1866 of the Cedar Falls & Minnesota Railway for 40 years, was President Harris made to holders last summer. The balance,
-in fi aud of the shareholders of the former and is illegal and about $3,000,000, the company is now ready to pay, principal
-void. The Supreme Court of Iowa has been asked by the D. and interest. The half-yearly interest on the general first
•& S. C. to pass judgment on the facts and the validity of the mortgage bonds amounts to $1,406,340, and the unpaid inter
lease. The suit will be at issue on the 10th instant. The est on the scrip amounts to about $250,000. The company has
Dubuque & Sioux City has reiused to pay the rental for a floating debt of about $1,000,000, which will be paid this
■October, November and December last to the C. F. & M., but month. All these items figure up $5,656,340, which the com
has offered to pay it in court pending the decision. About pany will pay out in bard cash during January. These pay
- the time of the execution of the lease the Cedar Falls & ments are not only a matter of large financial intere t, but
Minnesota put a mor gage on its road and issued bonds there they indicate that the Northern Pacific Company is in a sound
under. A year alter ward the D. & S. C. was leased to the condition. The new third mortgage bonds have been sold to
Illinois C-ntral lor 20 years, and no longer, unless the latter the amount of $8,000,000. The balance of the issue, $4,000,000,
exercised the right to renew the lease in perpetuity. In that will be kept in the treasury. The company has good assets to
lease the Illinois Central assumed the lease of the C. F. & M. the amount of $6,000,000, or $10,000,000 altogether. During
to the D. & S. C. for the given period. The Illinois Central this year the general first mortgage bonds will be retired to
surrendered the lease of the D. & S. C. in 18 7, and the obli the amount of $1,000,000. The company earned in November
gation and the light of the formar to pay rental to the C. F. $307,000 above all fixed charges.”
- & M. thereby terminated. The President of the C. F. & M.
Pacific Railroads’ Debts.—Under the act of Congress ap
placed an endorsement on its bonds, more than a year after
they were authorized to be issued, implying that the Illinois proved March 3, 1887, entitled “ An act authorizing an inves
Central Lad assumed the lease of the C. F. & M. to the D. & tigation of the books, accounts and methods of railroads
S. C. for its full term of 40 years, whereas the Illinois Cen which have received aid from the United States, and for other
tral’s promise to the D. & S. C. was only during the period of purtoses,” the President appointed Messrs. Robert E. Pattison,
the lease of the D. & S. C. to the Illinois Central, which was of Pennsylvania; E. Ellery Anderson, of New York, and
' 20 years. The endorsement on the C F. & M. bonds did not David T. Littler, of Illinois, Commissioners to carry on the
set forth this limitation of the promise made bv the Illinois investigation. Two reports have been submitted to the Presi
Central. The question raised in the Iowa Court is over the dent—a majority report by Messrs. Anderson and Littler and
lease of the C. F. & M. to the D. & S. C. It does not affect a minority report by Mr. Pattison. The latter condemns the
the validity of the bonds. The D. & S. C. o .ly contends that management of the roads in the past and suggeets a forfeiture
the lease is invalid and void. If there is a default by the C. of the charters, the appointment of a receiver by the Gov
F. & M. in not paying its coupons, the bondholders can pursue ernment, and the bringing of actions against all parties
their remedy against the property and take possession of the involved.
..
,,
, ,
The report of the majority, after reciting the methods pur
entire road, by the usual procedure in such cases, or can look
sued in their investigation, relates at length in its three sub
to those who placed an inexact endorsement on the bonds.”
divisions the present condition of the companies, their rela
...New York, Jan. 6 , 1888.
A. G. H a c k s t a f f ,
tion with the United States and the remedial measures to be
Sec’y Dubuque & S. C. R. R. Co.
adopted, the financial operations of the companies, and the
Indianapolis Decatur & Western.—The reorganized In answers to the various interrogatories contained in the bill
dianapolis Decatur & Western Railroad, formerly the Indian under which the Commission was constituted.
apolis Decatur & Springfield, has practically passed into the
It states that the indebtedness of the Union Pacific Railway
possession of the Evansville syndicate, and will be operated in Company to the United States, as existing to-day, is substan
the system controlled by it. An inspection trip was made tially as follows:
last week by President Mackey. The road was bought in at
foreclosure by the second mortgage bondholders, whose hold The Union Pacific Railroad........................................................ $27,236,512
Kansas Pacific Railroad........................ ............... . - . . . . . 6,303,000
ings at par value are $2,800,000. It is the understanding that The
The UnionPaeific Railroad,interest accruedtoNov. 1,1887,
32,039,343
- the syndicate took these at 40 cents, or $1,120,000. The first
butnot due.................................. . - .......v ,--,T— -r*;
'.mortgage bonds, amounting to $1,800,000, drawing 7 per cent The Kansas Pacific Railroad, interest accrued to Nov. 1,1887, 7,768,113
hut notdue................................ ....................- .........—.........
interest, are also outstanding. The total cost of the 153 miles
-of road, therefore, is $2,920,000. It will be operated in con
Total
...............- -- -- ................. .............................$73,346,968
nection with the Peoria Decatur & Evansville Road, and a The amount in United States hon’d and interest account for
companies is h .......... ............•**i;***v*VAoV-......... " w’ t o p Sq}
mew passenger and fi eight line will be established at once Theboth
amount in sinking fund account to Nov. 1,1887, is ....... 7,7<J4;,o»4
Between Indianapolis ana Peoria.
Total......................................................... .......................... $23,174,976
Marietta Columbus & Northern.—The annual meeting of
the present balance of obligations of the Union
the stockholdeis ui lids c mpany was Leld in Marietta, Ohio, So that
Pacific Railway is............. - .................................... - ............ $50,171,002
January 4ih. '1h - director« elected were Walter Stanton and
This amount should not be confounded with the presen1'
William Edwaid Coffin of New York; F. H. Prince of Boston,
Mass.; T. D. Dale, William P. Cutler, Charles E. Gard, E. R. value of th j debt, for the ieason that the United States i^
J anuary 7, 1888.J
THE CHRONICLE.
under the obligation of continuing the payment of 6 per cent
on the outstanding subsidized bonds until their maturity, and
the company is liable to refund such payments at the maturity
of the bond-».
The principal of debt of Union Pacific and Kansas Pacific is.$33 539,512
Add 180 per cent interest......................................................... 60,371,121
Total debt at maturity. ........................... ......................$93,910,633
Deduct amount to credit of both companies in bond and
interest account Nov. 1,1 88 7 .............................................. 15,540,891
Balance at maturity of bonds......................................... $78,369,741
The average date of maturity of the debt of both companies
is July 10, 1897.
The approximate present value of $78,369,741 66, dis
counted at 3 per cent, compounded, is............................... $58,491,256
Deduct amounts m sinking fund............................................... 7,734 083
Present value...................................................................... $50,757,173
This result is only intended as an approximation to explain
the operation of the bills herewith submitted, and will of
course be altered if actually applied at the date named in these
bills. The requirements under the provisions of the mortgage
proposed by the bill would be as follows for the first 10 years:
Three per cent of $50,757,000................................................... $1,522,710
One half of 1 per cent of outstanding bonds............................
253,785
Total........................................................................... ......... $1,776,495
After the expiration of 10 years the annual requirements
would be $3,030,280.
The report adds that it is universally conceded by every
intelligent person who has studied the subject that the Union
Pacific Railway proper or its system cannot pay the indebted
ness to the United States at maturity. It was decided, there
fore, “ to submit a scheme which shall secure to the United
•States full payment of all debts due it from said company,
with a reasonable rate of interest, having due regard to the
financial ability of said company, and the proper conduct of
its business in such a manner as shall afford efficient service to
the public.”
The history of the Union Pacific Railway as developed in
the second part of the report will it is claimed, “ show that
the assets have been in former years largely misapplied, and
that its financial ability to meet its just obligations has been
largely impaired by the action of men who held fiduciary
relations to the corporation.”
As to the Central Pacific the report finds that 860*66 miles
of its system is subsidized for $27,855,680, and with the South
ern Pacific system is leased to a Kentucky corporation known
as the Southern Pacific Company. The value of the Central
system is put at $110,000,000, which the Commission thinks
excessive when the cost of production is fixed at but
$50,863,540. The amount of the debt due the United States is
figured at $60,223,961, from which is to be deducted the
amount of the bond and interest account held by the United
States, $6,208,379, and the sinking fund of $3,418,996, making
the net amount of the obligation $50,596,585. This sum must
not be confounded with the present value of the indebtedness,
for the reasons stated in considering the debt of the Uaion
Pacific. The principal of the debt of the Central Pacific,
including the Western Pacific, is $27,855,680, to which is to
be added 180 per cent interest, $50,140,224, making the total
debt at maturity $77,995,904.
From this is to be deducted
$6,203,379 bond and interest account, leaving a balance of
$71,792,524 as the debt at maturity of bonds. The average
date of maturity of the Central Pacific is November 16, 1897,
and of the Western Pacific September 5, 1898.
The approximate present value of $71,792,524, discounted
at 3 per cent, is ..... .................................. .........................$52,750,000
Deduct amount in sinking funds............................................... 3,418,996
Balance.............................................................
............$49,331,003
The requirements under the provisions of the mortgage pro
posed by the bill would be as follows for the first ten years :
Three per cent of $49,331,003 is ............................................... $1 479 930
One-half of 1 per cent of outstanding bonds......................
’ 246*,635
Total................... .................................................................. $1,726,565
And after the expiration of ten years the annual require
ment would be $1,973,840.
The same considerations which have influenced the action
of the Committee in regard to the Union Pacific apply to the
Central Pacific. It is equally desirable to substitute for the
percentage system the payment of fixed sums, but, says the
report, “ the application of the remedy to the Central Pacific
Railway Company is a difficult task.” * * * “ We
herewith submit a bill applicable to the Central Pacific Rail
road Company, prepared on the same principle applied to the
Union Pacific Railroad Company, except that in the event of
a refusal to accept its provisions the entire net earnings of the
subsidized portion of the road shall be applied to the sinking
fund and interest account, as directed by the Thurman act.
The financial inability of the company to meet these require
ments is the result, as before stated, of the profligate and
wanton dispersion of the assets of the company in dividends,
the aggregate amount of which exceeded $34,000,000, and the
extravagant contracts, persisted in to the present time, as
evinced in the case of the construction contracts for the
northerly end of the California & Oregon Railroad, by the
Pacific Improvement Company, entered into in October,
1886.”
With the majority report are submitted four bills for the
consideration of Congress.
These make substantially the
39
same requirements in all important particulars, except that
in case cf the non-acceptance of the prescribed terms, the
Central Pacific Company and the Sioux City & Pacific Com
pany are r* quired to pay to the Government all the net earn
ings of their subsidized roads, and the Central Branch, Union
Pacific, 75 per cent, as against only 40 per cent for the Union
Pacific. The abstract of the bill regarding the Union Pacific
Road is as follows: It is a bill amending the acts approved
July 1, 1862, July 2, 1864, and May 7, 1878, and providing
“ for a settlement of the claims growing out of the issue of
bonds to aid in the construction of the Union Pacific and
Kansas Pacific railroads, and to secure to the United States
the payment of all indebtedness of said companies.”
The provisions of the more important sections are(as follows:
Section 1 instructs the Secretary of the Treasury to ascer
tain the total indebtedness ©f the Union Pacific Railroad Com
pany and the Kansas Pacific Railroad Company, to which the
Government’s subsidy bonds were issued, upon the same
principle a,s if the principal and interest paid and to be paid
by the United States were to be discharged in cash on July 1,
1888. From this sum the amount of interest which has been
reimbursed to the Government is to be deducted. Then com
pute the worth of the amount so found as of July 1, 1888, on
the basis of 3 per cent per annum, by discounting the amount
at 3 per cent per annum, compounded semi-annually for the
period between the date of average maturity of the bonds and
July 1, 1888. From the amounts so ascertained the amounts
in the sinking fund applicable to the companies, computed at
their market value shall be deducted, the sum thus obtained
being’ deemed the entire sum due the United States.
Section 2 provides that the company shall deliver to two
trustees a mortgage bearing date July 1, 1888, covering the
entire property of the company, rtal, personal and mixed,
assigning to the trustees all interest in any bonds, stock and
lands of all branch lines and auxiliaries in which it has any
interest, this property being held by the trustee as security
for the final payment of the bonds and inter* st on them,
authorized by this act. The road shall have the right to dis
pose of property or assets in a proper m inner not in diminution
of the security and lien of the Government, providing such
transfer is reported to the Secretary of the Treasury within 30
days after it is made.
Section 3 provides that one trustee shall be appointed by
the road, subject to the approval of the President of the United
States, the second to be appointed by the President. The
latter may also be the trustee of any other road having re
ceived Government aid, and his salary shall be $10,000 a year.
Section 4 provides that the road may issue its bonds in
amount equal to the asceitained indebtedn* s*, the bonds to
be in sums of $1,000 each, due in 50 years, and bearing 3 per
cent interest, payable semi-annually.
Section 6 provides that the company shall pay one half of 1
per cent up to and including 1898, and 1 per cent thereafter
on the entire debt as a sinking fund applicable to the redemp
tion of the principal of the bonds either at maturity or in case
of default, the trustees having power to invest this fund, and
being required to report as to its condition on the 1st day of
August of each year.
Section 7 provides that the existing lien of the United States
shall be in full force until all the liens on the property mort
gaged are satisfied.
Section 8 provides that no stock dividends shall be paid
unless the dividend shall have been actually earned in the
fiscal year preceding, nor until all interest on tae bonded debt
and the sinking fund obligation have been met. No dividend
shall exceed 4 per cent per annum, unless a like sum in excess
of that per cent be paid to the sinking fund. Any officer
assisting in declaring a dividend in excess of the amount spe
cified shall be liable to a fine not exceeding $5,000 and impris
onment not exceeding two years.
Section 12 provides that the act shall take i fleet cn its
acceptance by the company within one month after its passage,
subject to the completion of the settlement and adjustment of
the debt on the basis provided. Upon the acceptance the
Secretary of the Treasury is authorized to sell any securities
held in the sinking fund of the companies for their benefit.
The new bonds shall be issued on or before Oct. 1, 1888.
'X
Section 13 provides that in case the company refuses to
accept the provisions of the act before Oct. 1, 1888, there shall
be charged to and collected from the company 40 per cent of
their annual net earnings in lieu of the 25 per cent now pro
vided for; and section 14 gives the Secretary of the Treasury
power to sell the securities now held in the sinking fund and
invest them in any Pacific railroad first mortgage bonds aided
with bonds of the United States, or any other bonds of the
United States, in his discretion.
Philadelphia & Reading.—On Jan. 1 1888, without any
formalities, the Reading Railroad Companv passed out of the
receivers’ hands and into the control of the stockholders. It
will be four years next June since the company for the second
time went into receivers’ hands and taken altogether the
reorganization of this company without foreclosure is per
haps the most remarkable railroad negotiation that has ever
been carried out in this country. The officers of the company
who now have charge of its business are Austin Corbin, Pres
ident; William R. Taylor, Secretary, and W. A. Cnurch,
Treasurer.
Poughkeepsie Hartford & N. E.—Poughkeepsie & South
western.—At Albany, N. Y,, Dec. 31, 1887, articles of consoli
dation were filed in the Secretary of State’s office uniting these
40
THE CHRONICLE,
roads, with a capital of $1,400,000, The directors are E. R.
Chapman, H. H, Boody, and others. This consolidation s to
unite the Hartford & Connecticut Western Railroad with the
Poughkeepsie Bridge.
[ Y ol . X I A I
cisco directors’ party, there is likely to be considerable work
done soon on the gap in the company’s transcontinental line.”* * * “ The Atlantic & Pacific is as yet not completed be
tween Albuquerque, N. M., and Sapulpa, Indian Territory;
and this is the only remaining link to Deconstructed in the
through line to the Pacific Coast. Surveying and a little
grading is now being done on the proposed line in the Pan
handle country, and a force of engineers, we learn, has now
been dispatched from Albuquerque to work eastward from
that point until the party now at work in the Panhandle is
met. Next year, it is stated, grading and possibly track
laying will be pushed.” " * * * “ On the St. Louis & San
Francisco Railroad proper very little construction is now
being done, and, although the company has $50,000,000 in
bonds at its disposal for building purposes, no definite planshave been formed for operations.in 1888.” * * * “ Mr.
Winslow says that the company will wait until construction
materials are cheaper before building much.”
Railway Building in 1887.—The Railway Age gives some
particulars of the railroad building in 1887, and remarks that:
“ No less than 364 different railway lines, counting each
branch as a separate line, have been constructed in the United
States. This work has been done by about 25(1 different rail
way companies, a fact which shows that railway building has
by no means become a monopoly, controlled by a few individ
uals or corporations. In fact the country is too vast and the
local demands for railways are too numerous to make it possi
ble for a small number of companies to carry on the work.
At the same time it is also true that the greater part of the
unprecedented aggregate of railway mileage added during the
past year was built by a few great companies. The following is
a list of those which have laid the largest amount of track dur
Shenandoah Talley.—The actual opinion of the Judge in
ing the year, together with their new mileage, as officially
reported to this office. In each case the name of the system the Roanoke Court last week contained the following:
“ That the mortgage of April 1,1880, designated generally in
is given, although in several cases the work of construction
these proceedings as the first mortgage, is the first lien on thehas been carried on by several subordinate companies :
Miles. entire line of the Shenandoah Valley Railroad, from one ter
Atchison Topeka & Santa Fe system.................................................... 1,694 minus to the other, that is from Hagerstown to Roanoke City,
St. Paul Minneapolis & Manitoba system............................................. 940 embracing its various branches, and though not recorded in*
Missouri Pacific system ........................................................................... 900
Hock Island system—Chicago Kansas & Nebraska........................... 825 the counties of Rockbridge, Botetourt and Roanoke until after
C. B. & Q. system—Burlington & Missouri River................................ 702 the mortgage of 5eh of April, 1881, it is a prior lien thereto,
Chicago & Northwestern system........................
493 for the reason that it appears from the record that the mort
“ Soo” system—Minn. S. Bte. M. & A. and Minn. & Pacific............... 424
Chicago Milwaukee & St. Paul Railway............................................... 375 gagees or beneficiaries under it had notice of the mortgage of
Union Pacific and St. Jo. & Grand Island............................................ 345 April 1st, 1880, which is the first mortgage, the mortgage of
St. Louis & San Francisco system........................................................ 325 April 5th, 1881, is the second mortgage, and the mortgage of'
Northern Pacific system..........................................................
312 February 12, 1883, is the third mortgage upon the entire prop
“ These eleven great companies alone have added 7,385 erty and franchises of the Shenandoah Valley Railroad Com
miles during the year, or about 58 per cent of the total con pany. The Court is further of opinion and doth decide thatstruction in 1887. The five great competitors west of the the indebtedness by the railroad company to the general mort
Missouri, the Atchison, Missouri Pacific, Rock Island, Burling gage bondholders was a sufficient consideration for the issueton and Union Pacific, have alone built 4,450 miles in toe of the 1,560 first mortjage bonds and for the deposit of the
short space of twelve months. The Atchison, which leads same with the Fidelity Insurance Trust & Safe Deposit
the list, has aided nearly 1,700 miles, in which, however, is Company, as collateral security for the bonds, secured by theincluded its extension from Kansas City to Chicago, as well as mortgage of April 5ib, 1881, called in these proceedings the
its Gulf Colorado & Santa Fe extensions in Indian Territory general mortgage.
-and Texas and its numerous lines in California.” * * * *
“ The Court is further of opinion and doth decide that thefe “ The Missouri Pacific, the Atchison’s greatest competitor, condi ions having been complied with whereby it would have
has also made tremendous strides during the year, adding 900 been incumbent upon the F.delity Insurance Trust Sc Safemiles of new track under several different names, to wh'ch, Deposit Company, as trustee, in the first mortgage, to attach
in the official statement sent us, was added 130 miles its certificates to said bonds, the Court would, w. re it now
extending from Fort Scott to Topeka, Kan., taken over by the necessary, require the said certificate to be attached thereto ?
Missouri Pacific this year, but omitted from our table because but as it is not now expected to use said bonds for sale or other
the mileage was built in 1886 and credited to that year. The disp sal, it is deemed unnecessary to make any order on that
greater part of the Missouri Pacific’s work during the year subject. The Court is further of opinion and doth decide thatwas in Kansas and Colorado, including the completion of a the fifteen hundred and sixty bonds secured by the mortgagelong line from Kansas City to Pueblo and several important of April 1st, 1880, whi'-h were lodged with the Fidelity Insur
lines in Kansas, as well as some in Nebraska, Arkansas, ance Trust & Sife Deposit Company, as trustee, under the
Indian Territory and Texas.
general mortgage of April 5th, 1881, are valid outstanding obli
“ The Rock Island, which pushed across the Missouri in 1886, gations of the Shenandoah Valley Rtilroad Company, for thehas added 825 miles this year, of which 711 miles are in Kansas purpose for which they are held, that is as collateral security?
and 154 in Nebraska, and has now nearly 1,100 miles in opera for the payment of the general mortgage bonds.”
tion in those States, to which will be added 150 miles more by
April 1 and a very large additional mileage in the course of
the coming year. The plans of this great company contem
—The Vestibule New York and Chicago limit* d trains, now'
plate extensions to Denver, to El Paso, to Dakota, and it is
believed eventually to the Pacific coast, and it is evidently in running on the NewYork Central and Lake Shore route, repre►
ent the highest attainments reached in the competition for the'
tended to push them forward with great vigor during 1888.
“ The Burlington system] has reached out four or five long passenger business between the two leading cities of the Unitedlines through Nebraska, one of which has reached into W yom States. A train is dispatched daily from each city and makes?ing, and others are pushing for Dakota and Colorado. Over the run, 973 miles, in 24 hours. The cars are superbly fin
700 miles of track have been laid and 270 miles more have been ished, elegantly furnished and steam-heated. Each train isgraded, making a forward movement for the year repre composed of a buffet, smoking and library car, two parlor
senting nearly a thousand miles. Where this great company cars, two sleeping cars and a dining car, all of which are:
intends to end its westward and northwestward movements united into one continuous covered train by the construction
cannot be told, but it is evident that the long lines which it is of handsomely finished connecting vestibules upon the car
now building v ill call for numerous branches, so that very platforms, passengers being thus enabled to safely and com
great additions to its immense system are evidently inevitable. fortably pass through the entire train,while it is running at*
“ The Union Pacific, hampered by its relations with the high speed, without the slightest exposure or danger in cross
General Govtrnment, has been compelled to see the great ing the car platforms.
country west cf the Missouri which it first discovered and
—New volume of the Living Age. The number of Littell’s
developed invaded by powerful competitors; but during the Living Age dated January 7tn begins a new volume—the one
last year it ht s arisen to the emergency in ja>t and under hundred and seventy-sixth—of that standard weekly magazine*
several different titles has built about 350 miles, mostly in As periodical literature has been growing from year to year in.
southern Nebraska, with an arm reaching up into Wyoming. extent and importance, the Lioing Age has gone on increas
“ Many other companies have made large additions to their ing in value. It is a necessity to the American reader whosystems, of which special mention must be deferred. Among would keep pace with the best literary work of tire time.them are the St. Paul Minneapolis Sc Manitoba, whose won Subscription price, $8.
derful season’s work of 940 miles has been already described ;
Messrs. Coffin Sc Stanton offer $1,500,000 Housatonic Rail
the Chicago & Northwestern, which has added nearly 500
miles, mostly beyond the Missouri; the Chicago Milwaukee & road fifty-year 5 per cent gold bonds issued by the railroad,,
St. Paul, with an addition of '375 miles, including a line to which is one of the oldest in New England and of good finan
Kansas City; the *Soo ’ system of Gen. Washburne, which has cial standing, to fund the preferred stock at par, in accordance*
pushed 354 (miles this year across the forest wilderness of with the special act of the Connecticut Legislature, and also*
northern Wisconsin and Michigan, completing a line almost to refund the present bonded debt maturing from 1888 to 1329j
500 miles long.”
—Attention is called to the card of Messrs. Green & Cunning
Rome Watertown & Ogden sburg.—This railroad company ham, of Washington, D. C., who offer their services as agent»
has given notice to the Stock Exchange of an increase of for National banka. They refer to the Ninth National Bank
$1,763,200 in the share capital for exchange, share for share, of New York and to the National Bank of Washington.
for the stock of tbe Oswego Railroad Bridge Company, and,
—Investors in search of first mortgage bonds will do well to
on terms not made known, for the stock of the Utica Sc Black
River Railroad, which is now operated under a perpetual notice the advertisement of Messrs, John H. Davis & Co. irv
to-day’s I esue of the C h r o n ic l e .
lease.
—A choice list of investment securities is offered in the?
St. Louis & San Francisco.—The Commercial Bulletin
says: “ According to statements of the St, Louis Sc San Fran January ciicu’ ar of Mr, Augustus Floyd, 42 Pine St.
THE CHRONiCLE
J a n u a r y 7, 18^ 8 J ]
CENTRAL
R A IL R O A D
OF
NEW
JE R SE Y
41
RESULTS OF OPERATION OF THE CENTRAL RAILROAD SYS
TEM BY THE RECEIVERS, FOR THE FIRST TEN MONTHS OF
THE YEAR 1887, AND COMPARISON THEREOF WITH THE RE
SULTS FOR THE CORRESPONDING MONTHS OF 1886.
.REPORT
GROSS RECEIPTS.
OF
JOHN
S. KENNEDY AND JOSEPH S. HARRIS,
Receivers of the Central Railroad Company of New Jersey,
OF THE
«OPERATION AND
IN THEIR
MANAGEMENT OF
CHARGE, IN
THE
THE
RAILROAD PROPERTY
STATES OF NEW JERSEY,
PENNSYLVANIA AND NEW YORK, DURING THE
PERIOD
OF
TH E IR
OPERATING EXPENSES.
NET RECEIPTS,
MONTH.
RECEIVERSHIP.
1886
Jan’y ..
Feb’y ..
March .
April...
May. ..
June...
July....
August.
Sep’t ...
O ct......
1887
$
$
753,334 28 614,578 17
693,963 62 774.537 23
816,536 54 996,135 94
818,657 29 1,018,460 03
766,669 44 932,601 00
847,407 09 994,151 42
930,591 04 1,060,039 97
1,007,061 49 1,193,450 80
1,095,501 82 1,042,419 05
1,049,805 92 971,047 73
1886
1887
1886
1887
$
445,806 41
438,725 08
511,026 17
484,372 91
466,017 34
581,558 40
541,389 80
618,528 21
542,911 59
575,378 58
$
419,144 13
449,212 83
499,801 23
485,095 08
495,428 51
512,058 30
518,173 23
560,602 14
573,412 18
564,631 49
$
308,027 87
255,238 54
305,510 37
334 284 38
300,652 10
315.848 69
389,201 24
488,533 28
552,590 23
474,427 34
$
195,434 04
325,324 40
496,334 71
533,365 00
437,172 49
482,093 12
541,866 74
632,848 66
469,006 87
406,416 33
10 mos.. 8,779,528 53 9.597,421 34 5,055,214 49 5,077,558 98 3,724,314 04 4,519,862 36
Incre’se J
817,892 81
22,344 40
795,548 32
'To the Honorable the Judges of the United States Circuit Cour
for the District of New Jersey:
The undersigned were appointed Receivers of the Central
Railroad Company of New Jersey on October 15, 1886, while its
railroad was being operated by the Receivers of the Philadelphia
■and Reading Railroad Company, under lease, and before the
'•Central Company had exercised its option of terminating that
lease, They entered into possession of the railroad on January
1, 1817, upoa surrender of possession by the Philadelphia and
Reading Railroad Company and its Receivers. Their Receiver
•ship will terminate on December 31, 1887, and their operation of
the railroad will, therefore, have continued for one calendar
.year.
The financial results of the operation of the Central Railroad
¡system during that year may be summarized as follows :
Total amount of interest in default, and floating debt on Jan
uary 1,1887, when the Receivers took possession of the
property.......................................... . ,v.
.
.
'Total amount of interest in default and unprovided for on De
cember 31,1887, when the Receivership will terminate.......
Total amount of floating debt at last named date.....................
Increase in gross earnings for ten months ending Oct. 31, over
those of corresponding months of 1886................................
Increase in expenses for ten months ending Oct. 31, over
those of corresponding months of 1886................................
Increase in net earnings for ten months ending Oct. 31, over
those of corresponding months of 1886........ ........... . . . . ., •
S T A T E M E N T III.
AMOUNTS EXPENDED BY THE RECEIVERS FROM THE DATE OF
THEIR APPOINTMENT TO DECEMBER 1, 1887, FOR PURPOSES
OTHER THAN OPERATING EXPENSES AND FIXED CHARGES.
For renewals, betterments and extensions necessary for the
proper conduct of the business, a portion of which will be
$266,171 8
re p a id .......................... ................................. . ......... .
State and local taxes prior to 1887................................................. £66,053 27
On account of expenses and indebtedness prior to January 1,
1887, of Receiverships, including that of H. S. Little...........
63,942 79
Receiver Little’s indebtedness and lo a n s .................................. 860,000 CO
Real estate bonds and mortgages ............................ . . . . . . . . . . .
62 776 00
Railroad Car Trust of Philadelphia certificates...........................
26,400 00
85,350 00
Central New Jersey Car Trust certificates...................................
Central Railroad of New Jersey Car Trust certificates................ 139,000 00
50,000 00
New Jersey Car Trust certificates.............. ..................................
Guarantee Car Trust certificates........................................... .
25,000 00
100 00
$2,596,870 Elizabethport and New York Ferry Company stock....... ..........
New Jersey Southern Steamboat Co. Bonds . ....•.....................
7,600 00
None. Assessment on securities deposited under Reorganization Plan
of the Philadelphia and Reading Railroad Company, paid
None.
pursuant to agreement of settlement hereinafter reported.. 300,000 00
817,892 81
$2,452,393 37
22,344 40
The more important matters which have occupied the attention
795,548 32 of the Receivers and affected the interests of the property in their
charge during the Receivership, are as follows :
The following tabulated statements contain these financial re
sults in greater detail:
FIRST.—ACTION PRELIMINARY TO
TAKING POSSESSION AND
CONTROL OF THE PROPERTY ON JANUARY 1, 1887.
STATEMENT I
INTEREST AND FLOATING DEBT
-Interest m default on January 1, 1887, including interest due on
that date and not provided for.
Name of Securities.
Total Issue.
•Convertible Bonds............. ................................ . $4,400,000
Consolidated Bonds.............................................. 15 000 000
Adjustment Bonds__ _____________
..........
5,254,000
Debenture Bonds............................ ......................
3 264 000
American Dock & I. Co. Bonds..........................
5,000,000
Hew Jersey Stock Yard and Market Co. Bonds..
140,000
Total interest in default................... .
Interest in
Default.
$154,000
787,500
188,890
391,680
125,000
19,600
1,661,670
Floating debt on the same date charged upon the property of
Company, and represented by obligations of Henry S.
Little, Receiver appointed by the Court of Chancery........
Cther floating debt......................................... .
745,000
190,200
At the time of the appointment of the Receivers on October 15,
1886, the Central Railroad of New Jersey, and all railroads of its
system, were being operated by the Receivers of the Philadelphia
Reading Railroad, under the lease of May 29,1883, though de
fault had long since been made in the payment of rent under that
lease. The Central Company had obtained a decree of Court
authorizing it to terminate the lease, and re-enter upon its property,
but had not yet exercised its right so to do. A careful review of
the situation, with which the Receivers were already familiar,
satisfied them that it was inexpedient for the Central Company to
exercise this right, and thus place the property in the control and
management of the Receivers, until certain preliminary arrange
ments had been perfected. Among these preliminary arrange
ments were the following :
1. The creation of an organization, and the selection and ap
pointment of suitable officers and employees.
2. Complete understanding with the Receivers of the Reading
Company as to the time and details of re entry, so as to prevent
Interest on Funded Debt in default or unpi'ovided for on December any interruption of traffic, and avoid possible complications in
31, 1887.
the operating and accounting departments of both roads.
Total interest in default and floating debt on January 1,1887..
Name of Securities.
Convertible Bonds..............
Consolidated Bonds........... .
Debenture Bonds........................ .
American f>ock & I. Co. Bonds...
Hew Jersey Stock Yard and
Company B o n d s ..............
Total outstanding
and not deposited
in exchange for 5
per cent. General
Mortgage Bonds.
$1,296,000
4,060,000
Called for payment
779,800
5,000,000
17,500
$2,596,870
Interest in
Default or
unprovided
for.'
None.
None.
None.
None.
None.
None.
3. Settlement of the question at issue between the Central and
Reading Companies as to the ownership of supplies on the Central
lines, which aggregated in value about $500,000, the control and
use of which was necessary in order to enable the Receivers to
operate the road.
4. A traffic agreement with the Reading Company to prevent
diversion of business, and continue the interchange of traffic
which had grown up during the existence of the lease, to and
from points in the territory of the Reading Railroad.
THE CHRONICLE.
42
[V ol . X L \ 1 .
5.
Arrangements for temporary use of motive power in additionThis latter strike interrupted the movement of merchandise
to that owned by the Central, without which the existing volume freight during a considerable portion of that month, thereby de
creasing receipts, and adding largely to the cost of handling such
of traffic could not be moved.
These preliminary arrangements were all satisfactorily made, business as was done. In both these cases the Receivers, after a
and the organization was completed before entering into posses careful'examination into the alleged grievances of the strikers,
sion of the property on the first of January, 1887, whieh was fixed were satisfied that their demands could not properly be granted.
Another serious strike occurred in September among the coal
upon by agreement with the Reading Receivers as a satisfactory
date for terminating the lease and taking possession of the prop miners of the entire Lehigh Region, which still continues, and
erty, and all necessary details for this change of possession were which has for more than three months completely suspended the
perfected. Application was made to the Court for an order transportation of coal from that district, involving a considerable
whereby the supplies on the Central lines were transferred to the diminution of revenue.
All these strikes have seriously affected the earnings of the road
Receivers of the Central subject to the legal rights of all parties.
A traffic agreement with the Reading Company and Receivers during the past year and should be taken into account not only
was formulated, and the Reading locomotives in use on the Cen in judging the results of the Receivers’ administration, but in es
tral lines were hired at reasonable rates until new locomotives timating the earning capacity of the property under normal con
ditions.
could be secured.
Among other matters to which the Receivers gave their atten
FOURTH —STATE TAXES OF THE STATE OF NEW JERSEY FOR
tion before January 1st, were the following:
A careful examination of the physical condition of the property
satisfied them that, with some exceptions, its general condition
was good, and quite equal to that existing at the time of the
lease. As a result of this examination they immediately ordered
a new draw for the Newark Bay Bridge, which has since been
constructed, and is now in operation.
A like examination was made of the equipment, and steps were
taken to obtain a complete inventory and valuation thereof.
Insurance to the amount of $2,850,650 was effected upon se
lected portions of the property most liable to damage by fire.
Examination was made into the value of leased lines and prop
erties subject to mortgage, with a view of determining whether
the Receivers were justified in continuing payment of rent and
interest. As a result of this investigation, rentals were paid on
all leased lines, and interest was paid on all real estate mortgages,
so that the Central system of railroads, with all its appurtenances,
has been maintained intact during the Receivership.
Satisfactory arrangements were made for the use of new rolling
stock to replace that temporarily furnished by the Reading, the
withdrawal of which at an early date was to be anticipated.
SECOND—TRANSFER OF POSSESSION ON JANUARY 1, 1887.
On January 1, 1887, all the railroads of the Central system
and all the property belonging to that system in
the States of New Jersey, Pennsylvania and New York were de
livered up by the Receivers of the Reading to the Receivers of the
Central. This change of possession took place without any in
terruption of business, and without any friction between the
operating or accounting departments of either road, a result
which must be attributed largely to the care and deliberation with
which all preliminary arrangements had been made, and which
would have been impossible except for the cordial co-operation of
the Receivers of the Reading, their counsel and their officers, in
carrying out the orders of the Court.
THE YEARS 1884, 1885 AND 1886. UNDER THE TAX LAW OF 1884.
At the time of the Receivers’ appointment, this law had been
adjudged constitutional, and questions arising out of its applica
tion, and the valuations made by the Assessors under it, were
pending before the Supreme Court of the State of New Jersey, as.
to all the separate railroads embraced in the Central system.
Shortly after the Receivers’ appointment, a decision was ren
dered by the Court, substantially affirming the taxes as assessed.
The litigation involved the taxes for 1884 and 1885, on account
of which there was due, according to the decision of the Court,
on January 1st, when your Receivers took possesssion, $305,014,39.
Meanwhile, a new assessment had been made for the year 1886,
differing but little in amount from the assessments of the
previous years. The Receivers deemed it proper to appeal to
the State Assessors, sitting as a Board of Appeal, for a reduc
tion in these valuations. The State Board of Assessors accorded
a patient hearing, and consented to modify their original position
as to many disputed items, but they did not alter their previous
decision as to several important matters, chief among which was
the valuation of franchise.
As a result of these appeals, the Assessors reduced the valua
tion of the Central Railroad for the year 1886, by $951,387.85.
They also made some small reductions in other railroads of the;
system.
The total amount of taxes assessed under this law, and claimed
by the St£?te on January 1st, when your Receivers took posses
sion, including taxes for 1886, as finally determined upon review,
was $564,923.58. As these taxes constituted a first lien upon the
property prior to any mortgages, and, as delay in payment might
involve the Company in heavy penalties, the Receivers deemed
their payment imperative. They have, therefore, paid, under
judgment or order of Court, the entire balance of these taxes for
the three years of ’84’ ’85 and ’86, but have taken such proceedings
as are necessary to test the legality of the assessments.
TH IR D .— STRIKES.
On the same day on which the Receivers entered into possession
of the road a strike was inaugurated by all coal handlers at and
about the Port of New York, which included those employed at
Port Johnston and Elizabethport, the shipping ports of the Cen
tral Railroad. This strike, while involving but few employees of
the railroad, as distinguished from those of the Coal Companies
or individual operators shipping over its line, put an end for a
time to all transportation of coal for shipment and greatly dimin
ished the revenues of the railroad from that source during the
months of January, February and a part of March, over which
it extended. It assumed such threatening proportions that on
January 13th, special application was made to the Court, and an
order was obtained directing the United States Marshal to co
operate with the Receivers in protecting the property in their
charge. A large force of special deputies was shown in for
service at Port Johnston and Elizabethport, and for nearly two
months this force was maintained at a very considerable expense.
It was largely due to these precautions, in the opinion of the Re
ceivers, that there was no loss of property whatsoever, and that
no serious breach of the peace occurred on the premises of the
Central Railroad.
While this strike was in progress the difficulties of the Receiv
ers were greatly increased by a general strike of freight handlers
in and about the City of New York, which occurred in February
F IF T H .— SETTLEMENT W ITH
THE PH ILADELPH IA AND
READING
RAILROAD COMPANY AND ITS RECEIVERS.
At the time of the Receivers’ appointment, an accounting was
in progress between the Reading and the Central, under decree of
Court, which presented serious questions of law and fact. This,
controversy not only involved very large amounts—the claim of
the Central being, that the Reading was indebted to it upwards of
$3,850,851.45, and the claim of the Reading being, on the other
hand, that the Central was indebted to it in the sum of $1,385,723.50 in cash, and $3,000,000 in bonds—but its pendency was a
serious obstacle to the reorganization of either company.
After a substantial decision by tha Master, affirmed by the
Court, as to the basis of accounting, proceedings before the Master
were suspended, and negotiations for settlement carried on.
These negotiations continued up to July 28th, when they resulted
in an agreement which was satisfactory to, and provisionally ap
proved by all parties in interest, but no final action was taken
until the reorganization of both companies had so far advanced,
that the Court gave permission to the Receivers to exercise larger
discretion, with the approval of the Boards of Directors of both
companies, and the Reconstruction Trustees.
U n d e r this agreement the Central Railroad Company received
for its claim against the Philadelphia and Reading Railroad
Company and its Receivers tjie following amounts, v iz.:
THE CHRONICLE,
J anuary 7, 18b8 ]
Betterments on Central lines made by Reading Company
and its Receivers, as claimed by them........................
Construction account of the Lehigh Coal and Navigation
Company, and claims against other companies as
signed to Central
...................................................... '
Credit of amount realized by sale of $1,000,000 First Series
5 per cent. Reading Bonds.............. ..............................
$3,000,000 Second Series 5 per Gent. Reading Bonds with
Coupons of August, ’83, and February, ’84, at par......
Supplies, and Claims of Reading against New York and
Long Branch R. R., assigned to Central........................
Unsecured Claims against Reading admitted to Reorgan
ization, subject to payment of assessment...................
$ 399.870 75
397,983 43
578,876 60
3,100,000 00
654.427 43
336,513 36
This settlement was all the more important because it relieves
both parties from the litigation of many questions which could
not have been otherwise satisfactorily disposed of, except after
great delays before the Master, and which might have been with
propriety taken on appeal by either party to the United States
Supreme Court, and also assures the continuance of the present
amicable relations so important to the prosperity of both com
panies, and which could hardly have continued amid the irrita
tion and misunderstanding incident to any protracted ^litigation.
SIXTH.— SETTLEMENT
OF
CONTROVERSY
WITH
THE
LEHIGH
COAL AND NAVIGATION COMPANY.
At the time of the Receivers’ appointment suit had been com
menced by the Lehigh Coal and Navigation Company looking to
the termination of its lease of 1871 to the Central, by reason of
breach by the Reading of the Supplemental Agreement made be
tween the three companies in 1883, shortly after the lease of the
Central Railroad to the Reading. To avoid a result seemingly so
disastrous to all interests and to bring about harmonious action
between the Lehigh Coal and Navigation Company and the Cen
tral Railroad Company, this litigation was suspended and nhgd’
tiations entered into between the two companies which resulted
in the Supplementary Agreements of June 28, 1887, and Decem
ber 1, 1887, under which it is believed that the future relations of
the two companies have been satisfactorily provided for.
SEVENTH.— SETTLEMENT
VALLEY
GRANT.
OF
LITIGATION
WITH
RAILROAD COMPANY TOUCHING
THE
THE
LEHIGH
WEST
LINE
This litigation which had been in progress in different forms
for more than fifteen years has been finally brought to a close by
an agreement of settlement in connection with a traffic agreement
with the Lehigh Valley Railroad, an arrangement which it is be
lieved will materially increase the revenue of the Central Railroad
at an early date and ensure harmonious action in the future be
tween these two companies.
43
by the Delaware & Hudson Canal Company, but operated by the
Central Railroad Company under lease. This lease expired on
the date above named, and the Delaware & Hudson Canal Com
pany took possession of its road.
In order to ensure maintenance of the important Western and
Northern connections of the Lehigh and Susquehanna Davision
of the Central Railroad at Scranton, a railroad known as The
Wilkesbarre & Scranton Railroad was projected by persons in
terested in the Lehigh Coal & Navigation Company, and impor
tant terminal and connecting facilities were secured in Scranton.
By agreement of January 27, 1887, with the Delaware & Hudson
Canal Company, permanent trackage rights were secured over
a portion of their line between Wilkesbarre and Scranton, to
a connection with the new Wilkesbarre & Scranton Railroad
at Minooka Junction, thus avoiding the necessity of extending
this road to a connection with the Lehigh and Susquehanna
Division of the Central Railroad.
TENTH— FRIENDLY RELATIONS WITH CONNECTING ROADS.
The Receivers have deemed it their duty to promote and en
courage friendly relations and profitable alliances with connect
ing foads.
The most important steps in this direction, viz., the settlement
and traffic agreement with the Philadelphia & Reading Railroad
Company, the agreement with the Lehigh Coal & Navigation
Company, the settlement and agreement with the Lehigh.
Valley Railroad Company; the agreement with the Delaware &
Hudson Canài Company, and with the Wilkes Barre & Scranton
Railroad Company, have already been mentioned. In addition
to these, traffic or trackage agreements have been approved with
the following named companies :
The Williamstown & Delaware River Railroad, to secure its
New York business to the New Jersey Southern.
The Morris County Railroad, for a connection with the Lake
Hopatcong Railroad hear Port Oram.
The Lehigh Valley Railroad, for the use of a portion of the
Nescopec Branch of the Lehigh and Susquehanna Division, thus
preventing the construction of a substantially parallel line, and
obtaining increased revenue from the existing line. All these
agreements and all other contracts permanently affecting the in
terests of the company, were made with the approval and concur
rence of the President and Directors.
ELEVENTH— NEW BOURCE OF REVENUE.
The Receivers have also endeavored to secure for the Central
Railroad all possible new sources of revenue. To this end a por
EIGHTH.— PAYMENT OF THE RECEIVERSHIP DEBT OF HENRY tion of its Jersey City terminal property was leased to the North
S. LITTLE AND RELEASE FROM THE LIEN OF THAT DEBT River Coal & Wharf Company, upon which an extensive pier
OF THE SECURITIES HELD BY HIM AS COLLATERAL SE has been erected by the Coal Company for the shipment of bitu
CURITY.
minous coal, reaching the Central Railroad at Tamanend on its
In May, 1883, when the Receivership of Henry S. Little was so Lehigh and Susquehanna Division, and on which the Central
far terminated by the Court of Chancery of New Jersey as to Company thus obtains a long haul.
A traffic agreement with the Baltimore & Ohio Railroad had
permit the surrender of the railroad to the Company, the Court
retained possession of certain assets of the Central Railroad of a i been made shortly before the Receivers’ appointment, under
par value of $4,897,200.12, as well as of $3,000,000 bonds of the which considerable business has been done during the year,
Philadelphia & Reading Railroad Company deposited as security though not to the extent anticipated.
The new terminal facilities furnished at Scranton by the
for the payment of this debt, which then amounted to $2,062,000.
This debt had been gradually reduced to $745,000, but the securi Wilkes Barre and Scranton Railroad when completed, will un
ties still remained in the possession of Mr. Little, and their con doubtedly largely increase business at that point.
The Cumberland & Maurice River Railroad was purchased by
trol, free from all liens, became necessary in order to carry out
friends of the Central in order to furnish a better terminus for its
the reorganization of the Central.
By friendly arrangement with Mr. Little, proceedings were in New Jersey Southern system, and secure a long haul on all busi
stituted in the Court of Chancery to permit the payment of his ness to and from points on its line.
A small amount has been expended for excursion facilities at
■debt or its assumption by the present Receivers and the transfer
to them of said securities. The Court of Chancery of New Jer Lake Hopatcong, from which considerable new business was de
sey gave the necessary authority to Mr. Little, and, on the Re rived during the past summer.
Pursuant to the same line of policy spurs have been built to
ceivers petition, the United States Court authorized payment by
them and permitted them, if necessary, to borrow any amount, connect the railroad with different factories and other establish
not to exceed $745,000, which they might find necessary for the ments, where this step seemed expedient to secure freight.
purpose. Payment, however, was made from funds in the Re
TWELFTH.— ECONOMIC METHODS OF RUNNING THE ROAD.
ceivers’ hands, without exercising the power to borrow confer
red upon them by the Court.
The decreased proportion of operating expenses to gross re
ceipts during the year indicates the extent to which greater econ
NINTH.— CONSTRUCTION OF THE WILKESBARRE AND SCRANTON
omy has been secured in spite of the necessity of a complete or
RAILROAD TO SCRANTON, AND JOINT USE OF A PORTION OF
ganization of its own, which the railroad did not have during the
THE RAILROAD BELONGING TO THE DELAWARE AND HUDSON
year 1886, with which comparison is made.
CANAL COMPANY FOR CONNECTION BETWEEN IT AND WILKESThe most important change of method during the year in the
BARRE.
line of economic administration has been the running of coal
Previous to November 7, 1886, the Central Railroad reached trains through to Port Johnson and Elizabethport, without yard
Scranton over the railroad of the Union Coal Company, owned ing at Odenwelder, Easton or to any considerable extent at Hump
THE CHRONICLE.
44
[Voi. XLV F
ton, a change which had before been recommended by the oper. Finance Committee of the Railroad Company, of which Mr. E.Di
Adams is Chairman, and the extent to which exchanges of bonds-atipg officers, but never until this year carried into effect,
of the company have been made, is set forth in the following tab
ulated statement:
THIRTEENTH.— MAINTENANCE AND BETTERMENTS.
The Receivers have not felt authorized, to use the revenues in
their hands for betterments, as distingushed from repairs, exce^ t
in instances involving small expenditures, and only in such in
stances, when these betterments promised immediate returns.
They have, however, felt it their duty to make the road bed safe
beyond all peradventure, and have given especial attention during
the yëar to the matter of bridges. A new steam draw on the
Newark Bay Bridge, of the main line, was imparatively needed,
and. was ordered, at a cost of $43,000, before they took possession
o f the road. This draw, which is operated by steam, was com
pleted in the early summer. Contracts have been given out for a
renewal of the Hackensack and Passaic draws, on the Newark &
New York Branch.
A large sum has been expended upon repairs and bridges on the
entire line, much in excess of the ordinary yearly average for such
purposes.
The double track on the Lehigh and Susquehanna Division has
been completed, below Mauch Chunk. Construction of a large
yard at Mauch Chunk is in progress, and the erection of new
station houses at Mauch Chunk, and at Easton, has been com
menced. The expenses of betterments on this division is borne
by the Lehigh Coal & Navigation Company, under the existing
arrangements between the two companies.
New station houses have been erected, or are in proeess of
erection, at West Bergen, Vreeland St,, and Woodlawn Avenue,
on the Newark & New York Branch; Kenvil, Springtown, and Mill
Creek ; increased station ground has been secured at Elm Station,
on the New Jersey Southern Division, and new sidings have been
constructed on the Lehigh and Susquehanna Division, at Brills,
on the Newark & New York Branch, and at several other points.
Increased station facilities have been secured at Elizabeth and
Newark, where they were much needed.
FOURTEENTH.— NEW EQUIPMENT.
At the time of the Receivers’ appointment, the volume of busi
ness exceeded the capacity of the motive power of the Central
Railroad, and a number of locomotives belonging to the Philadel
phia & Reading Railroad Company were in service on its lines.
Temporary arrangements had been made with the Reading Re
ceivers to continue the use of these locomotives for a short time,
but it was necessary to secure new ones to take their place, at the
earliest possible daté. To this end, the Jersey Central improve
ment Company was organized, with the approval of the Receivers,
and hew equipment needed has been purchased from time to time,
by the Improvement Company, and placed at the disposal of the
Receivers, on favorable terms. By this, and other means, the
equipment in use on the road has been increased, during the present
year, as follows :
Locomotives, 27; Cars for Horses, 2; Hopper gondolas, 409;
Refrigerator cars, 10; Car floats, 4.
Woodruff Parlor Cars have been placed on the road by arrange*
ment with the Woodruff Company.
FIFTEENTH. — REORGANIZATION.
At an early period in the Receivership, a Reorganization
Committee was appointed by
the Trustees of the
Adjustment Mortgage, consisting of Messrs.
F.
P.
Olcott, J, Rogers Maxwell, John Crosby Brown, George
F . Baker and J. Kennedy Tod, and, after Jhe election of
a new Board of ^Directors in May, a plan of reorganization pre
pared by the Directors and this committee, with the approval of
the Receivers, was issued on June 8, 1887. A copy of this plan
©f reorganization, and of the accompanying propositions of The
Central Railroad Company of New Jersey to its stockholders and
certain of its creditors, is appended hereto and made a part of this
.report.
It was presented to the Court on June 15, and the injunction
was so far relaxed as to permit the company, in the discretion of
its Board of Directors, to execute and deliver the new bonds and
mortgage, ànd tò sell and exchange so many of the new bonds as
were hecessary to carry the plan into operation, such exchange
and fee Application of proceeds of bonds sold, to be made by the
Receivers. This plan has been carried into effect by thè Central
Trust Company of New York, as Trustee of the new Général
Mortgage, and agent for the Receivers, pursuant to arrangements
approved by the Directors, under the general direction of the
EXTENT TO WHICH THE BONDED DEBT HAS BEEN EXCHANGED*
AND PROVIDED FOB
BY NEW
GENERAL MORTGAGE
BONDS'»
UNDER THE PLAN OF REORGANIZATION.
NAME OF SECURITIES.
Consolidated Mortgage Bonds.
Adjustment'
.
Newark and N. Y. Bonds........
Total Issue.
$4,400,000
15,000,000
5.254.000
3.264.000
600,000
Deposited un Balance sub
der plan or ject to formerprovided for. Int. charges.
$3,104,000
10,940,000
5,254,000
2,484,200
600,000
$1,296,000
4,670,000
779,800 •
Exchanges were also made with the holders of other securities^,
and the total reduction in the fixed charges through the conver
sions thus far effected, will result in an annual saving o f
$'335,000.
SIXTEENTH.— AUDIT OF RECEIVERS’ ACCOUNTS.
The Receivers’ accounts have been audited each month b y
Hon. Barker Gummere, who was appointed Special Master b y
the Court for that purpose.
s ev e n t e e n t h .— r e c e iv e r s ’ c e r t if ic a t e s a n d d e b t s .
No Receivers’ certificates have been issued, nor has any Re
ceivers’ debt been incurred during the Receivership.
p r e s e n t co n d itio n of c e n t r a l r a il r o a d p r o p e r t y .
At the commencement of the present year the Central Railroads
was controlled and operated by the Reading ; was in default forinterest upon its funded debt to the amount of $1,661,670; wasinvolved in apparently inextricable litigation with its creditors,
aud with the Reading, and had been compelled to take refuge;
under the present Receivership in order to protect all classes of'
creditors alike. Its average net earnings had, for ten years,barely
equalled its fixed charges, and in the last two years had fallen,
considerably below them.
The beginning of the new year will find it an independent
railroad, operated and controlled, for the first time in more
than ten years, through a management elected by its own stock
holders, with all accrued interest on its funded debt paid, all de
faults cured and relieved from all the dangers and uncertainties,
of litigation. Its fixed charges have been so reduced as, in our
opinion, to ensure permanent solvency.
THE CAUSES OF THIS CHANGE.
It may properly be added that the Receivers fully realize that
their management of the property has been but one of a number
of causes contributing to this result. They have deemed it their
duty to preserve in its integrity all the property embraced in the
Central Railroad system ; to maintain and to increase its earning;
capacity ; to cultivate such friendly relations with the public au
thorities, with the community, and with connecting and compet
ing railroads, as would conduce to this end ; and to promote, by
all means within the proper exercise of their powers, an organiza
tion which promises permanent solvency.
They likewise appreciate that the results attained by them
would have been impossible except for the confidence of the
Court, the faithful service of their officers and employees, the co
operation of the directors and of the then President and former
Receiver of the Company, Mr. Henry S. Little, at the time o f
their appointment and during the early part of their administra
tion, and the subsequent action of the present directors and
President, Mr. J. Rogers Maxwell, who has met with them regu
larly for many months past, and given them the full benefit o f
his experience and judgment.
For the successful reorganization of the company, however,
the stockholders and bondholders are chiefly indebted to fee
present Board of Directors, who had the ability to carry through
a wise and comprehensive plan of settlement, under which the.
creditors have not been required to make concessions, nor fee
stockholders to submit to forced assessments.
December 31, 1887.
J oh n S. K e n n e d y ,
J oseph §, H a r r is .
•January 7, 18Í8.J
THE CHRONICLE?
LOUISVILLE & NASHVILLE RAILROAD.
45
ABSTRACTS OF RAILROAD MORTGAGES.
The following is an abstract prepared for the C h r o n i c l e o f
MEMORIAL FROM STOCKHOLDERS IN LONDON.
the 1st mortgage on the Lake Erie & Western Railroad, dated
T o the Directors o f the Louisville & Nashville Railroad February 21, 1837:
Coihpany :
We, the undersigned, shareholders of the Louisville & Nash
LAKE ERIE & WESTERN EAILROAD.
ville Railway, on our own behalf, and on behalf of a great FIRST MORTGAGE ON THE LAKE ERIE & WESTERN
RAILROAD TO SECURE GOLD BONDS DUE JAN
number of other shareholders, desire to Call the attention of
UARY 1, 1987.
'the Board to the following facts:
Date.—February 21,1887.
1. According to the report for the fiscal year ended June
Parties—The Lake Erie & Western Railroad Company, of
-30th, 1887, the net surplus of that year, after deducting all
rents, taxes and liabilities, amounted to $1,832,252 81. De the first part, and the Central Trust Company of New York
and Augustus L. Mason of Indiana, of the second part.
ducting from this amount the payments required for sinking
Property Covered—The railroad of the Company, and all
fund and other outlays, the surplus would have sufficed for future
extensions and branches thereof, in respect of which
the payment of a considerable percentage on your company’s bonds shall be issued, whether acquired by construction, pur
.«hare capital as dividend, if such surplus had not been chase, consolidation, permanent lease, or otherwise, the said
railroad extending from Sandusky, Erie county, Ohio,
reserved for other purposes.
through Seneca, Hancock, Allen, Auglaize and Mercer coun
2. These purposes are described in the concluding passages ties, in the _State of Ohio, through Jay, Randolph, Delaware,
■of the report in the following language
Madison, Tipton, Clinton, Tippecanoe and Benton counties in
“ Although last year’s earnings have been very satisfactory, the State of Indiana, and through Vermillion, Ford, McLean,
At was deemed best not to declare any dividend, as the neces Tazewell, Woodford and Peoria counties in the State of Illi
nois, to Peoria in said State, and including a branch from
sity for the extension of branches and for new equipment to St. Mary to Minster in Auglaize County, Ohio, the
meet the requirements of increased business, made it desirable same being 480 miles, more or less; and all right« of
way, real estate, buildings, fixtures, rolling stock,
f o keep your company in a strong financial position.
“ If the earnings should continue as at present, which the franchises, etc., and all property both real and per
sonal, now held or hereafter acquired for said railroad.
aiew industrial developments promise, your directors hope to But if it shall be determined by the company to acquire or
•«mploy such part of future earnings for dividends as the posi" construct railroads without the issue of bonds thereon, then
the lien of this indenture shall not extend to any such roads.
tion may warrant.”
[In addition to the above property the company has ac
3. While we notice with satisfaction the views of the
quired since the date of the mortgage a line from Indianapolis
•directors as to the prospects of the railway, and their hope to Michigan City, Indiana, 162 miles, and has outstanding
Ahat these may warrant the payment of dividend in the $5,920,000 bonds on the total 592 miles.]
future, it appears clear that, for the next few years, a large
THE BOND.
■expenditure for capital account will continue; and that for
First Mortgage Gold Bond.
“the present fiscal year a very large amount of rolling stock D ate.—February 21,1887.
D en om in a tion .— $1,000 each.
lias already been ordered.
u n t A u th orized . —$10,000 per mile of road completed in sec
4. Under these circumstances it would seem that the distri- A m otions
of not less than ten miles.
pon o r R egistered.— Coupon, but may be exchanged for a registered
A>ution of the annual surplus to the shareholders may again be C oubond,
at tbe agency of the company, in New York City. Coupon
prevented by the requirements of capital account.
bonds surrendered shall be canceled with the coupons belonging
thereto.
This would be disastrous to many of your shareholders who P rin cip a l P a ya b le.— The principal is payable January 1, 1937, in
United States gold coin not inferior to the present standard of value,
liave to rely upon the income from their investment, and who
at the office o f the Central Trust Company, in New York City.
would be placed in a position of hardship if forced to sell out In terest P a ya b le.—The interest is 5 per cent per annum, payable fr e e
of United StJtes and State tax January 1 and July 1, in lihe g o ld Aheir shares just at a time when the property, after a long
coin, at the agency of the railroad company in New York City.
S in k in g F u n d .—None.
period Of depression, is returning to prosperity.
Default.
—In case of default of interest or principal con
5. We fully appreciate the soundness of the conservative
tinued for six months the trustees may, and upon request by
policy followed by the Board of Directors in desiring to make the
holders of one-fourth of the outstanding bonds in respect
fhe financial position of the company as strong as possible, of which default has occurred shall, proceed by suits in equity
■even if in so doing a heavy sacrifice be imposed upon the or law to enforce payment of said bonds, and to foreclose this
shareholders; but we venture respectfully to submit for the mortgage and to sell the premises hereby conveyed, under the
decree of a court. No bondholders shall take any proceedings
consideration of the Board a policy by which “the expressed to enforce the provisions hereof until the trustees have
■views of the directors will be fully met, and which at the been in writing requested to take proceedings to foreclose this
same time will materially improve the position of the share mortgage, and have refused so to do. In case of procedure by
suit in equity or law, the trustees shall be entitled to have the
holders.
mortgaged property sold by judicial sale under the order of a
That policy consists in applying to construction purposes court of competent jurisdiction for the satisfaction of the
for a period of, say, three years from the commencement of principal and interest due upon the outstanding bonds, and
the present fiscal year, such surplus as would be available for pending any such suit they shall be entitled to a receivership
the payment of dividends, and instead of paying the same to of the property. At any sale of the property bonds of this issue
the shareholders in cash, issuing to them at par shares in the may be turned in towards the payment of purchase money.
Trustees.—The trustees may be removed, and any vacancy
company for the amount to which they are fairly and
in the office of trustee may be filled, by instruments in writing
properly entitled.
6. The advantages to the company, should our suggestion, executed by the holders of two-thirds in amount of the out
he adopted, appear to us clear. Its credit must necessarily be standing bonds. If after notice of a vacancy published for
improved, as further security is supplied for the existing sixty days the bondholders shall fail to fill such vacancy, the
bonded liabilities without a corresponding increase of charge directors of the company may make a temporary appointment
upon the company’s property. Thus the company would be which shall continue until the bondholders designate a1trus
enabled to borrow upon better terms the funds which may be tee as aforesaid.
required for construction over and above the amounts fur
nished from the application of the net cash revenue. The,
company may also be able at a later date to call in for
Railroad Building in the Northwest.—The figures o f '
redemption the outstanding $10,000,000 of six per cent trust actual new construction on the purely Northwestern roads
bonds and the $4,000,000 10-40 bonds at present outstanding,
and to provide for their payment by the issue of preferred are as follows:
o m p a n y.
M iles.
stock carrying a fixed annual interest, thus setting free for St. PaulCMinneapolis
& Manitoba........ ............ ....... ........................ ,835*00
the general purposes of the company an amount of $28,162,700 Montana
Central............. ..................... .............................................. 98 "OO
nominal securities.
Chicago Milwaukee & St. Paul................................... ............... . . . . . 360*00
7. We cannot see any objection to the proposed plan. We Minneapolis Sault Ste. Marie & Atlantic.......................................... 357-00
Minneapolis
& Pacific................... .................................. .................. . 69*50
are well aware that many cases have occurred where stock has Northern Pacific..
, ........................... . . . . . . ................. .......... .......... . 312‘OO
been issued without an adequate increase in the value of the Minnesota & Northwestern (C. St. P. & K. C.)........................ ........ 313*47
property represented, by a process well known under the Chicago & Northwestern, proper.......................................................1 0 9 -2 5
Chicago St. Paul Minneapolis & Omaha...........................................{ 33-42
name of “ watering;” but in the present case, where for every Fremont
Elkorn & Missouri Valley (in Dakota)............................... -25*00
dollar of stock issued a corresponding cash outlay for con Wisconsin Central.......................................... .......... .......................... 33 12
St. Paul & D u lu th ............. .........................„ ............... .................. . 18*75
struction is made, that criticism would not apply.
& St. Louis....................... .................. ........................ . 11-00
•3. We are of opinion that ere long a radical change will Minneapolis
Seattle Lake Shore & Eastern............................................................. 30*00
bave to be adopted by American railroads generally in the Seattle & West Coast........................................................ , ............ . . ,15*00
present mode of dealing with annual surpluses, and that a Portland & Willamette V a l l e y .......................... . . . . . . .............. . .11*00
4100
«definite policy in that respect will have to be laid down, if Oregon & C alifornia............................... ; ......................... ......... .
the confidence of European holders is to be maintained.
Total................................................... .......... .......... .
” 2.67a
THE CHRONICLE.
46
3pw
[VOL. XLVI,
C O T T O N .
C o m m e r c ia l S ita e :
P. M., Jan. 6, 1888.
as indicated by our telegrams
from the South to-night, is given below. For the week ending
this evening (Jan. 6), the total receipts have reached 159,308
bales, against 188,824 bales last week, 202,859 bales the previous
week and 213,902 bales three weeks since, making the total
receipts since the 1st of September, 1887,4,144,858 bales, against
3,914,842 bales for the same period of 1886-7, showing an in
crease since September 1, 1887, of 230,016 bales._____________
F r id a y ,
T h e M o v em en t op th e Cr o p,
COMMERCIAL
EPITOME
18' 8
A serious strike amorg the miners in the employ of the
Reading Railroad Company is a circumstance that disturbs
business circles at the opening of the new year, and it is diffi
cult to foresee the result of the contest. The discussion of the
proposed revision of the tariff of import duties does not have
R eceipts at—
the disturbing effect that many apprehended, chiefly because
Galveston........
nothing radical or sweeping seems to be proposed in any
quarter.
New Orleans...
The following is a statement of the stocks of leading articles Mobile...............
of domestic and foreign merchandise at dates given:
F r i d a y N i g h t , J a n . 6,
1888.
J a n •1 .
1887.
D ec. 1.
1887.
J a n . 1.
Sat.
Savannah ........
Brunsw’k,&c.
Charleston.......
PortRoyal,&c
Wilmington__
M on.
lu e s .
W ed.
F r i.
T hurs.
Total.
2,737
1,661
3,101
3,256 18,538=
8,476 18,386 12,176
1,505 1,360 2,383
126
3,472 4,409 4,619
3,608
2,615
4,878
836
2,646
2,570
8,837
760
579
1,991
2,058
1,787
98
334
86
2,284
3,461
1,887
529
530
108
3,205
4,578
. . . . ...
56,361
9,459
705
19,707
2,058
6,918
98
1,838
88
14,673
16,213
8,510
2,821
572
751
702 1,390
717 1,155 1,167
19,824
33,770
172
207
486
336
303
38,709
49,381
225,871 N orfolk ............ 2,037 1,522 2,372 3,895 2,563
31,760
2,861 4,056 1,730
West Point, &c 4,105
96,900
560 3,884
910 1,269
9,293 New Y ork ........
414
382
300
628
568
3,935 B oston .............
1,961,308
42
None. Philadelphia,&o
284
39
259
61
150
7,000
28,585 159,308
20,582
21,857
30,629
33,005
24,650
353,600 Totals this week
216,534
For
comparison
we
give
the
following
table
showing
the week’s
18,294
3,141 total receipts, the total since September 1, 1887, and the stock
793 to-night, and the same items for the corresponding periods of
4,900 last year.
4,520
Stock.
1886-87.
None.
1887-88.
11,150
R eceipts to
Since Sep.
This
Since Sip.
This
29,300
1887.
1888.
Ja n . 6.
W eek.
1,1886.
18,246
1,1887.
W eek.
5,753
74,984 116,235
Galveston ... 18,538 566,651 18,108 598,389
The speculation in lard for future delivery has turned in
.....
Ind’nola,&c
favor of the bears, prices showing a material decline. An New Orleans. 56,361 1,248,951 74,054 1,193,423 411,891 427,978
increase in the slaughter of swine has pointed to an increased Mobile.......... 9,459 165,644 7,428 165,525
52,240
37,768
production of lard, while the great extent to which it is adul
18,164
1,804
3,446
19,935
705
terated reduces the consumption of it. To-day there was a Savannah ... 19,707 734^090 10^588 666,359 119,843 110,084
slight further decline. Lard on the spot has been weak, and
4 6 ,4 7 9
23,394
2 0 50
713
closes dull at 7-75c. for prime city, 7'87J^@7;923^c. for Charleston .. 6,918 339,789 6,330 330,519
53,746
40,009
prime to choice Western, 8c. for refined to the Continent and
74
273
13,701
10,689
248
P.Royal, &c
98
©•25c. to South America.
17,549
15,861
1,710 117,274
Wilmington
1,838 152,213
DAILY CLOSING PRICES OF LARD FUTURES.
3 ,9 6 2
3,385
97
86
59,626
44,003
Norfolk........ 14.673 373,513 13,200 412,719
S atu rd’y . M o n d ’y Tuesd’y . W ed n sd ’y . Thursday . F rid a y.
7-82
8-06
795
7-85
4,531
January delivery.. 8-03
16,816
W. Point, &c 16,213 379,990 14,059 241,730
8-13
8 - 00
7-90
7-85
February deliv’y .. 8' l l
48,859 196,903 209,968
28,465
1,620
8,510
New York___
7-92
797
8-20
8-08
March delivery___ 8'19
2 0 ,0 0 0
41,043
46,270
7,649
10,700
2,821
Boston..........
87-04
98
8-27
8-15
April delivery....... 8'26
8-35
8'23
805
8-11
May delivery........ 8‘33
20,446
19,459
650
17,319
572
11,618
Baltimore
...
8-41
8-10
8-28
8-16
June delivery........ 8‘39
9,484
19,912
11,023
16,599
786
751
Phil’del’a, &c
8-34
8-22
8-15
8-47
July delivery........ 8*45
159,044
3,914,842
1,043,776
1,058,027
4,144,858
159,308
T
ota
ls.......
In other hog products the turn of values has been in favor
14,488
Pork......................................... bbls.
18,932
LarcL......................................... -tgs.
43,442
Tobacco, domestic...................bads.
40,576
Tobacco, foreign..................... bales.
170,802
Coffee, R io................................ bags.
81,056
Coffee, other............................. bags.
96,650
Coffee, Java, &o................ ... .mats,
3,530
Sugar........................................ hhds.
None.
Sugar..................................... boxes.
Sugar.................................bags, &c. 1,089,401
None.
Melado.......................................hhds.
762
Molasses, foreign.....................hhds.
1,800
Molasses, domestio.. .............bbls.
336,900
Hides............................................ No.
167,289
Cotton.......................................bales.
26,071
Rosin.......................................... bbls.
2,055
Spirits turpentine....................bbls.
560
Tar.............................................. bbls.
8,700
Rice, E. I ...................................bags.
5.500
Rice, domestic......................... pkgs.
None.
Linseed......................................bags.
13,000
Saltpetre................................... bags.
2,000
Jute butts..................- ............ bales.
6.500
Manila hemp............................bales.
7,600
Sisal hemp.............................. bales.
7,320
17,341
46,358
42,271
. 233,819
143,234
121,600
. 2,891
None.
1,220,140
None.
626
1,500
348,300
102,399
25,168
1,066
1,068
7,400
3,250
None.
14,500
1,650
6,600
8,281
of buyers. Cheese is more fi'mlyheld on favorable foreign
advices.
The speculation in Rio Coffee has turned strongly toward
lower prices. Advices from Brazil have caused free selling
and values have rapidly given way. An effort yesterday to
support the market had but momentary success. To-day an
opening decline in futures was partially recovered, the ear y
months in particular becoming buoyant; but coffee on the
spot remains dull and unsettled, with fair cargoes Rio
quoted nominally at lPc., and futures closed with sellers as
follows for delivery in 1888:
15-500.
15-40c.
.15-OOc.
.14-950.
May........ ....... 14-90C.
June... . ........ 14-80C.
July........ ...... 14-45C.
1A u g ........ . .. . 14-OOc!
I
Sept......... ........ 13-70c
Oct.......... .........13-50c
Nov.......... ........ 13-40c
D ec......... ......... 13-35C
Raw sugars were rather quiet until to-day, when there
was renewed activity and buoyancy; fair refining Cuba quoted
at 5 3-16c., and sales included three cargoes Iloilo, 4 9-16c.
and two cargoes centrifugal, 96 deg. test,
ll-16c. c. & f
Molasses was more freely offered, and 50 deg. test sold at
2i3%c. The tea sale on Wednesday went off at steady prices
Kentucky tobacco has been quiet this week. The sales are
only 200 hhds., of which 100 for export at unchanged prices
The business in seed leaf has been fair, amounting to 1,050
cases, as follows: 200 cases 1886 crop, New England Havana
12@35c.; 100 cases 1886 crop, New England seed, 13@17c.
200 cases 1886 crop, Ohio, 8@10c.; 200 cases 1886 crop, Dutch
9^(3IQ^c.; 200 cases 1881-5 crops, Pennsylvania, 9@14>£c.
and 150 cases 1886 crop, Wisconsin Havana, 7@10c.; also 450
bales Havana, 60c.@$l 10, and 250 bales Sumatra $1 40@1 85
Spirits turpentine is firmer, in sympathy with Southern mar
kets, and closes at 40c., but other naval stores are quiet and
unchanged. There has been an excited speculation in crude
petroleum certificates, the price rising to 97c., but the close is
quieter at 93c. Wool and hops are steadier.
The Metal Exchange was dull and weak until yesterday
when there was renewed excitement in ingot copper at better
prices, and to-day there were sales at 16'50@16'60c. for
January, 16‘75c. for February, 16'85@16 95c. for March and
16‘95c. for April, but the close was quiet. Lead sold to-day at
4*90c. on the spot and straits tin at 36c. for Feb. The iron
markets are apparently steadier, though still quiet.
In order that comparison may be made with other years, w e
Receipts a t—
1888.
1887.
1886.
18,108
74,054
7,428
10,588
6,578
1,807
13,200
14,202
13,079
12,729
56,071
9,431
12,508
4,843
1,524
11,759
7,915
24,049
1885.
1884.
1883.
11,963
50,418
9,214
15,770
5,515
2,585
13,982
6,239
18,308
11,314
38,098
2,955
7,514
5,173
1,183
8,976
1,604
13,428
27,190
68,364
9,415
12,797
10,608
3,256
17,348
2,861
23,543
Tot. this week 159,308 159,044 140,829 133,994
90,245
175,382
Galvest’n, &c
New Orleans.
Mobile..........
Savannah ...
Charlest’n,&c
Wilm’gt’n, &c
Norfolk........
W’t Point, &c
All others—
18,538
56,361
9,459
19,707
7,016
1,924
14,673
16,213
15,417
Since Sept. 1 4144,858 3914,842 3759,644 3825,510 3647,207 3861,841
Galveston includes Indianola; Charleston includes Port Royal, &o.;
Wilmington includes Moreh’d City, &c.; West Point includes City Point, &o.
The exports for the week ending this evening reach a total
of 138,573 bales, of which 92,446 were to Great Britain, 2,849
to France and 43,278 to the rest of the Continent. Below a re
the exports for the week and since September 1, 1887.
Exports
from—
G a lv e sto n —
N ew O rlean s..
From 3ept. 1,1887, to Jan. 6,1888,
Week Ending Jan. 0.
Exported to—
Exported to—
Great
Conti
1 Conti Total
Great \
Total.
Brit’n. Pran ce nent. Week. Britain. France nent.
13,149
28.686
3,172
F l o r id a ............
Savannah —
4,590
1,820
2,677
W ilm in g to n ..
8,537
N o r fo lk ............
W e s t P oin t,& c 12,027
N ew Y o r k ....... 14,125
2,374
3,890
B a ltim o re . . . .
1,799
P h ila d e lp ’a ’&c
T o ta l. . . . . . .
92,446!
2,698 16,947
10,105 88,791
3,772
4,021
195,025
865,147 169,108
29,576
65,289
250,229
264,338
784,484
29,578
11,060 15,650
6,910 10,030
2,677
5,512
1.975
12,027
449 10,102 24,676
2,444
70
3,890
2,157
858
127,342 10,280
53,523 22,789
65,220
6,895
165,020
129,862
247,647 20,921
86.466
42,960
1,595
29,356
193,505
134.211
33.848
1,975
331,077
210,523
105,458
166,995
129,862
397,870
88,248
62,721
38,058
1,100
1,300
129.302
1.782
18,166
3.702
2,849 43.278,138,573 1.537,144'235,062
832,004 2,604,210
50.234 195.891 1,562,209 328,288
602,118 2,492,925
T o ta l 1886-7. 100,227 45.430
THE CHRONICLE.
J a n u a r y 7, 1888.]
In addition to above exports, our telegrams to-night also give
us the following amounts of cotton on shipboard, not cleared,
at the ports named. We add similar figures for New York,
which are prepared for our special use by Messrs. Carey, Yale
& Lambert, 34 Beaver Street.
On S h ip boa rd , n ot cleared—f a r
Ja n . 6, a t —
Great
Other
B r ita in . F rance. F o r eig n
Coast
w ise .
Total.
29,723 28,244 23,654
17.000 None. None.
3.000
2,300
5,500
15,300
900 None.
16,681
None.
6,467
20.000 None. None.
4.000
400
6,600
14,000 None.
3,000
2,277
None.
1,200
4,500
8,485
2,000
None.
None.
83,898
17.000
12.000
20,700
31,633
22,000
11,000
17,000
New Orleans__
Mobile...............
Charleston.......
Savannah . . . . . .
Galveston........
Norfolk.............
New Y o rk ........
Other ports.......
L e a v in g
Stock.
327,993
35,240
41,746
99,143
43,351
37,627
185,903
57,543
Total1888........ 119,704 31,844 45,221
18,462 215,231
Total1887........ 102,424 49,175 65,267 15,227 232,093
Total 1886........ 111,089 32,892 53,092 21,777 218,850
828,545
825,934
885,616
The speculation in cotton for future delivery at this market
has been sluggish for the week under review and prices show
some decline. The opening on Tuesday morning was com
paratively steady on a strong Liverpool report, with the
statistical position regarded as very favorable to the views of
the bull party; but the receipts at the ports were unex'
pectedly free, exceeding the corresponding dates last year,
and caused some selling to realize on a very moderate demandThe depression was quite conspicuous in the closing hours of
Wednesday’s business and early Thursday; but yesterday
there was a smart recovery on the indications pointing to
r educed stocks at interior towns, through free shipments from
them, and the large exports to Liverpool making a marked
reduction in stocks at the ports. To-day the market was very
unsettled. Prices turned upon the varying phases of the
interior movement, but in the last hour declined under the
report of the large overland movement for December. Cotton
on the spot has been dull and stocks increased. Quotations
were reduced l-16c. on Wednesday. The market was quiet
and nominal to-day, middling uplands closing at lOj^c.
Th* total sales for forward delivery for the week are 393,90o
bale«. For immediate delivery the total sales foot up this week
473 bales, including — for export, 455 for consumption»
18 for speculation and — in transit. Of the above — bales
were to arrive. The following are the official quotations for
each day of the past week—Dec. 31 to Jan. 6.
UPLANDS.
S a t . ¡M o n . T u e s ! W e d | T H .
7n J6 75s
8316 8ie
9*8 91x6
95s
101l6 iS9'«
1038
109,6 i o ÿ
1013x6 10%
iUhe 11
H 7X6 113s
1121, « 12
Ordinary...............................$ a>
Strict O rdinary..........................
Good O rdinary...........................
Strict G. od Ordinary................
Low M iddling.............................
Strict Low M iddling.............
Middling.......................................
Good M iddling......................." "
Strict Good Middling.................
Middling P a ir .......................
F air.........................................
GULF.
S a t.
»
ira8
10 %
11
10 %
11
113s 113s
12
.
7%
71316 7%
8%
8 5X6 8%
9%
93i6 93,6
9%
911x6 9 li1(
193x6 1018 1018
101a 107x6 107x6
ionie 105s 105g
1015x6 1 0 78 1078
113x6 llllg 1118
11»X6 111g lllg
1 2 3 6 ¡1 2 1 8
121s
F a i r ................................................
STAINED.
7^8
818
91x6 91xe
l?918 i f “
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©
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**
M M
75a
8is
T ues W ed I T h .
Ordinary............................... $ a
Strict Ordinary...........................
Good O rdinary..........................
Strict Good Ordinary ............. .
Low Middling......................... . . .
Strict Low Middling....................
Middling ......................................
Good M iddling............. ..............
Strict Good Middling..................
Middling F a ir .............................
F r l.
►
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T H . 1F r i .
Good Ordinary....................lb.
758
Z?1B 7»16 79j6
Strict Good Ordinary.................. Holi Holi 8 5 X 6 8%
8 %
8 %
Low Middling..................
day. day. 9%
93, 6 9316 9 3 i 6
Middling ........................
1018 101x6 lOhô lOlxe
MARKET AND SALES.
99S9
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The total sales and future deliveries each day during the
»XX X
week are indicated in the following statement. For the con
venience of the reader we also add a column which shows at a
* loom oes saies in September. 1887. tor Reptem>*«r, 258 200* Sentember-October, for October, 570,200; September-November, for N o
glance how the market closed on same days.
SALES OF SPOT AND TRANSIT.
8POT MARKET
CLOSED.
Sat ..
Mon .
Tues .
Wed .
Thuss
F ri...
Very dull...........
Quiet® i 16 dec .
Dull...................
Firm................
Total.
Ex
p o r t.
C on - Spec- Tran
Total.
s u m p u l ’ l’n sit.
FUTURES.
„ ,
râtes.
1 D éliv
eries.
.H o li
. H o l i 'd a v . .
....
....
70
81
108
196
18
70
81
108
214
455
18
473 392,900j
-
89,300
70,600
122,400
110,600
The following exchanges have been made during the weeks
....
The daily deliveries given above are actually delivered the day
r revxous to that on which they are reported.
T h e Sa l e s a n d P r ic e s o f F u t u r e s
f o llo w in g c o m p re h e n s iv e t a b le :
are s h o w n
by
vember, 481,600.
-4in the above table, and shaU continue each
U t “ We have included
•q©
2
**®M*1
week to give, the average
price of futures each day for each month. It
I ö>?°:day following the abbreviation “ Aver " The
will he found under eaoh
*-©M the week is also given at bottom of table.
average for each month
! O Ofor
©
Transferable Orders—Saturday, . . . . . . c.; Monday, ..
o. • Tuesday
I0’50c.; Wednesday, I0*45c.; Thursday, 10 4 5 c.; Friday," 10'45oT,U,*y*
th e
•27 pd. to exch. 500 Apr. for Aug.
•10 pdito exch. 100 Feb for Mar.
•22 pd. to exch. 700 Feb. tor Apr
■21 pd. to exch. 2,000 Feb for Apr.
•11 pd. to exch. 300 Jan. for Feb.
•18 pd to exch. 100 Apr. tor June.
•50 pd. to exch. 200 Jan. for June.
10 pd. to exch. 100 Mar. for Api. ,
•10 pd. to exch. 200 Apr. for May
' l l pd. to exeh. 100 Feb. toi Mar.
'28 pd. to exch. lo o Mar. for June..
'39 Pd. to exeh. 1 00 Feb. for June•28 pd. to exch. 100 Apr. for Aug.
T h e V i s i b l e S u p p l y o f C o t t o n to-night, as made up by cable
and telegraph, is as follows. The Continental stocks, as well as
those for Great Britain and the afloat are this week’s returns.
THE
48
and consequently all the European figures are brought down
to Thursday evening. But to make the totals the complete
figures for to-night (Jan. 6), we add the item of exports from
the United States, including in it the exports of Friday only.
1888«
Stock at Liverpool.......... bales 623,000
Stock at London.......................
36,000
1887.
728,000
12,000
1886.
595,000
19,000
Total Great Britain stock. 659,000
Stock at H am burg....____. . . .
5,000
Stock at Bremen...........
90,100
Stock at Amsterdam.....
24,000
Stock at Rotterdam .................
300
Stock at A n tw erp ................ .
Stock at H avre............. 183,000
Stock at Marseilles......
2,000
Stock at Barcelona......
48,000
Stock at G enoa.............
2,000
Stock at Trieste..........
5,000
740,000
„ 1>900
16,400
21,000
__ 300
614,000
Total Continental sto ck s ......
300,300
bales m ore than at the same period last year The receipts at
the same towns have been 5,670 bales more than the same
week last year, and since September 1 the receipts at all the
towns are 193,465 bales m ore than for the same time in 1886-7.
Q u otation s
1885.
698,000
45,000
178,000
2,000
42,000
5,000
9,000
276,800
282,600
fctverpuol stock ..........b a le s 444,000 534,000 452,000
Oontineutal s to ck s.................. 162,000 174,000 225,000
American afloat for E urope... 549,000 649,000 510,000
United States stock................. .1,043,776 1,058,027 1,104,466
United States interior stocks.. 420,192 371,900 482,739
United States exports to-day..
28,418
24,839
14,351
143,000
19.000
57,600
59.000
48.000
363,900
498.000
215.000
619.000
979.537
301.538
12,500
H BrW ?Ä OD
h sMRf* 8»•
1•
W* • » :
200,000
45.000
148,900
63.000
44.000
oo
Ixi
l o lu
m
.
.
.
0 5 O l-* 4 t tM * 4
© ® W M ® © © M © ö t5 M ®
O U® W l- 1M to M
t o if k
© M M O '© M i f - t ® © ©
© --l'b'O
®WMMO>Mt®
to
to
H
105$
Cincinnati...
Louisville ...
9^8
9^8
ioss
913i8
•<
' W ednes.
|
10
10
9*8
9*8
913)6
91316
9^8
95s
10
10
91516
91B16
lo h e
lOhe
io 4
lo 4
1038® *2 1038® *2
103$
10®8
9*8
9*8
2l
9*83i«
9*8
9*8
9*8
9*8
Thurs.
10
9*8
91316
9«8
10
9*8
lOiie
10®8
10 *-%
10 »8
9*8
9*8
9*8
9*8
1
F r i.
10
9*8.
93*
9®8
9 l516
9 1516
i o i 18
105b
10 3*}
105a
91316
93t
9*8
9*8
9*8
2. . .
9.. .
1 6 ...
23>..
8 0 ...
Receipts at the Ports.
St’fcat Interior Towns.
Rec'pts from Plant'ns.
188E-86 1886-8711887-88 1885-86 1886-87 1887-88 1885-88 1886-87:1887-88
449,202 285,01»i800,470 292,180
248,797 275,716 252,406 382,827.390,832 •
248,134 227.886 249,019 434,343 402.085 ,463,323'299,850 239,189'263.140
233,011■260,659 213,902 481,239 ■410.953(497,3691284,9071269,527 247,948
240.166 283,045 202,859 521,319 433,584 503,678 280,246 805,626 209,163
189,&52iä30.018 188,824 543.557 443,565 493,883 212,090 246,649 179,020
140,829
. 159,044 159,808 526,561 423,252 461,804 123,883 188,731 127,229
6..
The above statement shows—1. That the total receipts from
the plantations since September 1, 1887, are 4,582,832 bales;
in 1886-7 were 4,290,034 bales ; in 1885-6 were 4,270,355 bales.
2.—That, although the receipts at the outports the past week
were 159,308 bales, the actual movement from plantations was
only 127,229 bales, the balance being taken from the stocks at
the interior towns. Last year the receipts from the plantations
for the same week were 138,731 bales aud for 1886 they were
123,833 bales.
A m ount o f C otton in S ig h t J a n . 6.— In the table below
we give the receipts from plantations in another form, and add
to them the net overland movement to Jan. 1, and also the
takings by Southern spinners to the same date, so as to give
substantially the amount of cotton now in sight.
I 1887-88. 1886-87. |1885-86. |1884-85.
137,974
t '%-•o S'5
"m -4 to co £.1®bo m to oc to o s o t o w n
Oi0i-50i00000t0t00i-‘tiw<j0ic0t0000
91316
9«8
10
T ues.
375,iw |
M0.71l| 303,570
Tot. receipts from plantat’ns 4,582.832',4,290,034 4,270,355 4,129,080
Net overland to Jan. 1 . . . . . . . . 710,712 51.3,74:2 525,092i 353,04:8
8out^rn co^um pt’nto Jan. 1 205;000| 150,OOP; 131,000| 115,000
oo • • : : 85sstr1®» 2 2 : - : s>f
t©. Q. I I I »00-I-.
M
!B. . .. .P. P. . g
s>; ;•
CO-4
CCtatOCO
tf-C® X O'W©
M on .
Receipts atthe ports to Jan. 6. 4,144,858 3,914,842 3,759,644 3,825,510
i& s e ski
g..®Jr£* o f g ! « I
Satur.
B oston ........
Baltimore ...
Philadelphia
Augusta.......
Memphis___
Week
Ending—
j@gs“ The imports into Continental ports this week have been
20,000 bales.
.
.
The above figures indicate a decrease in the cotton in sight
to-night of 155,880 bales as compared with the same date of
1887, an increase of 33,470 bales as compared with the corres
ponding date of 1886 and a decrease of 44,789 bales as
compared with 1885.
A t t h e I n t e r io r T o w n s the movement—that is the receipts
for the week and since Sept. 1, the shipments for the week,
and the stocks to-night, and the same items for the corres
ponding period of 1886-87—is set out in detail in the following
statement.
fig lia
O t h e r M a r k e t s .—
R e c e ip t s f r o m t h e P l a n t a t io n s . — The following table
Indicates the actual movement each week from the planta
tions.. The figures do not include overland receipts nor
Southern consumption; they are simply a statement of the
weekly movement from the plantations of that part of the crop
which finally reaches the market through the outports.
Total visible supply .......3 ,0 8 1 ,6 8 6 3,237,566 3,115,156 3,126,475
Price Mid. UpU, Liverpool. . . .
5 iii6d.
5^16d.
0, 5d'
5,1, 116dPrloeM id. Upl., New York....
10*2C.
9916o.
93iec.
11*80.
F^'g‘2
6.
Galveston ...
New Orleans.
Mobile ........
Savannah .. .
Charleston ..
Wilmington .
Total East India, &c.......... 434,300 425,800 326,600 500,900
Total A m e r ic a n ............2,647,386 2,811,766 2,788,556 2,625,575
ttW
0
►
aFF'-dW
K® ®gotzi
®
®c. ®o>a o*
at
CLOSING QUOTATIONS FOR MIDDLING COTTON ONJa n .
Total Am e/icar.................. 2,647,386 2,811,766 2,788,556 2,625,5
194,000
12,000
102,800
64.000
53.000
M id d l in g C otton
6,000
37.000
1*4,100
54.000
33,000
600
600
1,300
i a ? ’aaa 216.000
144,000
4.000
^4,000
35.000
48,000
6.000
3>600
4,000
3 ,0 0 0 _________I
Total visible supply.......... 3,081,686 3,237,566 3,115,156 3,126,475
O f tbe anove, the totals of American and other descriptions are asf oliows
Liverpool s t o c k . . . . . . . . .. . . . . . . 179,000
L mdon stock
..........
36,000
Continental stocks____ . . . . . . . 138,300
India afloat for Europe..........
3^,000
Egypt, Brazil, &c., a flo a t......
42,000
for
In the table below we give the closing quotations of middling
cotton at Southern and other principal cotton markets for each
______ 743.000 day of the past week.
Total European stocks. . . . 959,300 1,016,800 896,600 1,106,900
63,000
India cot ton afloat for Europe.
39,000
64,000
59,000'
Amer, cott’n afloat for Eur’pe. 549,000 649,000 510,000 619,000
44,000
Egypt, Brazil ,&c. ,aflt for E’r’pe 42,000
53,000
48,000
Stock in United States ports..1,043,776 1,058,027 1,104,466 979,537
301,538
Stock in U. 8. interior towns.. 420,192 371,900 482,739
12,500
United States exports to-day. 28,418
24,839
14,351
E a st I n d ia n , B ra z il, die.—
[VOL. XLV
CHRONICLE.
Total in sight Jan. 6 ............. ¡5,493,544l|4,953,776 4,926,447 4,602,128
§ fa
SS n T . ,Pl^ e” l H 1^ , .!O'1.349.814ll.O2O.107ll,082,429l 839,211
» 06*
It will he seen by the above that the increase in amount in sight to
night, as compared with last year, is 544,768 bale«, the increase as
compared with 1885-6 is 572,097 hales, and the increase over 1884-5
is 896,416 hales.
W e a t h e r R e p o r t s b *? T e l e g r a p h .— Reports to us b y tele
® If
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graph to-night from the South denote that the temperature
has in general been somewhat higher, with rain in about all
districts, but not excessive. The crop is being marketed
00
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freely.
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Halvef ton, Texas.— W e have had rain on three days of the
- I - ‘ ©- co enee ifO 5 - 4 O < 0 5 0 5 © t 0 O ' t C © t 0 !X
0< © OtQ C t O © < ï
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week, the rainfall reaching twenty hundredths of an inch.
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The thermometer has averaged 57, the highest being 69 and
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the lowest 38.
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Palestine, Texas.— It has rained on three days of the week,
© t 0 © 0 © © 0 i 0 '© © . - 4 - 4 © © C 5 © © if to
00 © O i^ C n © «
the rainfall reaching sixty-one hundredths of an inch. Ave
rage thermometer 54, highest 76, lowest 24.
...
to
PP
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Han A n ton io, Texas. —Rain has fallen on four days of the
g
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week to the extent of thirty-one hundredths of an inch. The
© lf-C O O O '-4^ 4M © © tO C C ® © lf-© © tO -4
«©©w-a©!-1
thermometer has averaged 58, ranging from 34 to 74.
N ew Orleans , L o u i s i a n a — Telegram, not received.
©
-4©I-J|^I-‘ MI^-C0©© .M I f - © O ' ® I f - © t O
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to
Shreveport, L ou isia n a . —Telegram not received.
H - 4 ® O U O O 'l - ‘ © © - 4 ® ©
© ® © O U ® -4
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Colum bus , M ississip p i.— W e have had rain on one day of
© coif-M osVib»
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©
d u -i © t o if-® if‘ © © © © t o t - ‘ f-‘ O iO 'iM o©
the week, the rainfall reaching two inches and fifty-seven
«-©If-too®©
So
hundredths. The thermometer has averaged 41, ranging
mm
to
from 18 to 68. During December the rainfall reached nine
O M M tO
P P P
MMtOM
W 8 fsj!
CO; M
S
r
i
Vi eo m © w to © ® © w © to © o> m oi m
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inches and ninety hundredths.
.
05tfc-©0' ©M©-4 00—
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to
© © M M tf-© W © M M t0 C 0 -4 © -4 -4 -4 © O *
oo. too«©©*-1
Leland, M ississip p i.— Rainfall for the week two inches
and two hundredths The thermometer has ranged from 32
1^.
M to
MOD
M
M M
to 69, averaging 49*9. Rainfall for the month of December
00©<1
K) I &
O H
^ GO
fcO CO W p J
s
§
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ÎO
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five inches and eleven hundredths.
.
-4»*
-4
01
-1
©
com;
Greenville, M is s is s ip p i— It has been cloudy during the
MOCQCCO<JO*^tOtO*
OU-©©©H*.
week,
with
a
rainfall
of
one
inch
and
fifty-nine
hundredths.
* The figures for Louisville in both years are ‘ net.” t This year
The thermometer has ranged from 30 to 62. During the month
figures estimated.
of *----December
The above totals show that the old interior stocks have { —
— - the rainfall reached five inches and eighty-three
decreased during the week 29,261 bales and are to-night 48,292 hundredths*
w
© © w iî- © m
2s
h uo
f W Q n
- T l Ti v t i 7
THE
1 U l,]
CHRONICLE
49
L'ttle Rock, Arkansas.—Telegram not received.
the shipments since Jan. 1 show an increase of 39,000 bales.
Helena, Arkansas.—It lias rained lightly on three days of The movement at Calcutta, Madras and other India ports for
OC00GO00GCGO
the week, the rainfall reaching one and thirty-five hun the last reported week and since the 1st of January, for two
dredths. The weather has been warmer. Considerable cot years, has been as follows. “ Other ports” cover Ceylon,
ton is coming in. i he thermometer has averaged 48, the Tuticorin, Kurrachee and Coconada.
highest being 72 and the lowest 24. Rain fell on sixteen days
Ship m en ts f o r the w eek.
in December to the extent of five inches and eighty hun
Ship m en ts sin ce J a n u a r y 1 .*
dredths. ^
6 J
Great
C onti
Great
Total.
Memphis, Tennessee.—It has rained on three days of the
Total.
B rita in .
nen t.
B rita in . Continent.
week, the rainfall reaching one inch and sixty-three hun
dredths. The thermometer has averaged 46, the highest Calcutta1 8 8 8........
1,000
1,000
.99,000
125,000 224.000
being 69-5 and the lowest 26. During December we had rain
1,600
1887
..................
1,600
81,000
40.000
121.000
on fourteen days, and the rainfall reached five inches Madras—
1888
..................
2,000
2,000
64.000
13.000
and eighty hundredths. Average thermometer 41, highest 62 1887........
77.000
500
500
44.000
6,000
50.000
and lowest 14*5.
All others—
1,000
Nashville, Tennessee.—We have had rain on three days of
1 8 8 8 ......
1,000
2,000
91.000
38.000
129.000
1,000
1887........
1,000
76.000
the week, the rainfall reaching forty-two hundredths o f an
63.000
139.000
inch. The thermometer has ranged from 42 to 69, averaging Total a l l 53. During the month of December the rainfall reached five
1888 ........
4,000
1,000
5,000 254.000
176.000 430.000
1887........
2,100
inches and thirty-one hundredths.
2,100
201.000
109.000
310.000
Mobile, Alabama.—It has rained severely on one day and * Totals since January 1 cover the years 1887 and 1886. j
has been showery on one day of the week, the rainfall reach
The above totals for the week show that the movement from
ing one inch and thirty-six hundredths. The thermometer the
ports other than Bombay is 2,900 bales more than the same
has averaged 50, ranging from 32 to 65. Rainfall for month week
last year. For the whole of India, therefore, the total
of December seven inches and twenty-one hundredths.
shipments since January 1, 1887, and for the corresponding
Montgomery, Alabama.—Rainfall for the week one inch periods
of the two previous years are as follows :
and four hundredths. The thermometer has averaged 50
EXPORTS TO EUROPE FROM ALL INDIA.
ranging from 30 to 75. During the month of December the
rainfall reached eight inches and twenty-five hundredths.
1888.
1887.
1886.
hipm en ts
Selma, Alabama.—We have had rain on one day of the toSall
E u ro p e
T his
Since
This
Since
This
Since
week, the rainfall reaching one inch and fifty hundredths.
fro m —
w eek.
J a n . 1 .*
w eek.
J a n . 1.*
w eek.
J a n . £.*
The thermometer has ranged from 30 to 70, averaging 46‘5.
Auburn, Alabama.—Rain has fallen during the week to B om ba y.......... 11,000 1 ,112,000 19,000 1,073,000 17,000 742.000
thé depth of two inches. Frosts on the 3d and 4th. Average All other ports. 5,000, 430,000 2,100 310,000 2,000 220.000
thermometer 46‘4, highest 69, lowest 27.
T otal.......... 16.000'l,542,000 21,100 1,383,000 19,000 968,000
Madison, Florida.—Telegram not received.
* For the years 1887,1886 and 1885.
Macon, Georgia.—Rain has fallen on two days of the week,
A l e x a n d r ia R e c e ip t s a n d S h ip m e n t s .—Through arrange
Columbus, Georgia.—It has rained on one day of the
weék, the rainfall reaching twelve hundredths of an inch. ments we have made with Messrs. Davies, Benachi & Co., of
Liverpool
and Alexandria, we now receive a weekly cable of
The thermometer has ranged from 30 to 61, averaging 46.
Rainfall for December twelve inches and thirty-nine hun the movements of cotton at Alexandria, Egypt. The follow
ing are the receipts and shipments for the past week and for
dredths.
Savannah, Georgia.—Rain has fallen on two days and the the corresponding week of the previous two years.
balance of the week has been pleasant. The rainfall reached
A lex a n d ria , E g y p t,
1887-88.
1886-87.
one inch and forty-two hundredths. Average thermometer
J a n . 4.
1885-86.
51, highest 73 and lowest 28.
Receipts
(cantars*)—
Augusta, Georgia.—We had rain on one day in the early
This week___
126,000
170,000
150,000
part of the week, but the latter portion has been clear and
Since Sept. 1
2,292,000
2,197,000
2,153,000
pleasant. The rainfall reached one inch and eighty-one hun
T his
Since
This
Since
T his I Since
dredths. Cotton is coming in freely. There is considerable
w eek. Sept. 1. w eek. Sept. 1. w eek. Sept. 'J.
in the country yet to be marketed. Receipts for the season
1
...
to Thursday night are over forty-five thousand bales in excess Exports (bales)—
To Liverpool............. 13,000 167,000 8,000 162,000 16,000^145,000
of last year. The thermometer has averaged 48, the highest
To Continent............ 3,000 84,000 5,000 69,000j 9,000| 75,000
being 73 and the lowest 27. December rainfall four inches
Total E urope____ 16,000 251,OOo! 13,000 231,0001 25,000,220,000
and sixty-four hundredths.
Atlanta, Georgia.—Telegram not received.
* A cantar iB ß S pounds.
Charleston, South Carolina.—Rain has fallen on two days
This statement show that the receipts for the week ending
of the week to the extent of one inch and twenty-three hun Jan. 4 were 126,000 cantars, and the shipments to all Europe
dredths. Average thermometer 53, highest 68 and lowest 29. 16,000 bales.
^
Rainfall for December seven inches and nicety-one hun
M a n c h e s t e r M a r k e t . —Our report received by cable to-night
dredths.
Slateburg, South Carolina.—During December we had from Manchester states that the market is dull fo r
rain on eleven days and the rainfall reached three inches and both yarns and shirtings. We give the prices for to-day
thirty-one hundredths. Average thermometer 45-3, highest below, and leave those for previous weeks of this and
last year for comparison :
66-9 and lowest 23.
1887-88.
Columbia, South Carolina.—During the month of Decem
1886-87.
ber the rainfall reached three inches and seventy-three hun
C ott'n
G o tti*
32« Cop.
8 >4 lbs.
32«
Cop.
8*4 lbs.
dredths.
M id :
M id .
Shirtings.
Twist.
Twist.
Sh irtin gs.
TTplds
TTpldo
Wil on, North Carolina.—Rain has fallen on one day of the
week, the rainfall reaching seventy-two hundredths of an
s. d. s. d.
d.
d.
d. s. d. s. d.
d.
irich. The thermometer has ranged from 15 to 66, averaging Deo. 2
5 7 *3®7 0
55s 7516®71519 5 8 ®6 8
5i®
« 9
5 7 12®7 0
53.
7% ®8
5 8 ®6 9
514
« 16
5 7 1a®7 0
5 8 ®6 9
55g 738 ®8
5H
The following statement we have also received by telegraph,
“ 23
5 9 ® 7 1*2 511i0 7®i0@7l5j0 5 8 ® 6 1 0
5*4
showing the height of the rivers at the points named at 3
“ 30
5 101s@7 3
5% 75i6®71518 5 8 ® 6 10
Öl*
Jan. 6
75i6®715jg
5 10!2®7 3
o’clock Jan. 5, 1888, and Jan. 6, 1887.
51 16
5 8 ® 610
55i®
O v e r l a n d M o v e m e n t , & c ., to J a n u a r y 1.—In our edicorJ a n . 5, ’88. J a n . 6 ,’87.
ial columns to-day will be found our regular statemen's of
Feet. In c h . Feet. In c h .
New Orleans.......
overland movement, receipts, exports, spinners’ takings, &c.,'
1
4
9
5
M em phis............
2
0
13
6
brought down to January 1.
Nashville............
21
4
9
10
Shreveport.........
18
6
3
6
E g y p t ia n C otton C r o p . —Our correspondent at Alexandria,
Vicksburg..........
*1
0
17
3
writing under date of December 12, sends us the cotton report
* Below zero of gauge.
of the Alexandria Produce Association for the month o f
We have translated both the letter and the
I n d ia C o tto n M o v e m en t f r o m a l l P o r t s .— The receipts November.
and shipments of cotton at Bombay have been as follows for report, and give them below. The letter is as follows :
the week and year, bringing the figures down to Jan. 5.
A l e x a n d r ia , Dec. 12,1887.
M essrs. W illia m B . D a n a <& G o., N ew Y ork .
BOMBAY RECEIPTS AND SHIPMENTS FOB FOUR YEARS.
G e n t l e m e n : I send you enclosed thelNovember report (No. 17) of the
Alexandria Produce Association. As you wiU see by this report, the«
Egyptian crop is now placed at only 2,850,000 cantars, instead o f
Total.
3,000,000 cantars, which was previously the average estimate. It is
¿888 4.000 7,000 11,000 381.000 731.000 1 ,112,000 29.000 1,628,000 not necessary, however, to accept this report as gospel truth [“ parole
1887 4.000 15.000 ly .ooo 345.000 728.000 1.073.000 41.000 1.627.000 d’evangile” ], for well informed merchants here stiU look for a crop 6^
1886 2.000 15.000 17.000 230.000 512.000 742,000 30.000 1.143.000
1885 2,000 12.000 14.000 525.000 706.000 1.231.000 16.000 1.673.000 more than 3,000,000 cantars. Not until January 15, however, will it b e
possible to speak positively in regard to this matter, since at present
* The totals since January 1 are for the years ending December 31. much cotton is still in the interior.
1 8 8 7 ,’8 6 ,’ 85 an d’84.
'
Yours,
E. S. .
According to the foregoing, Bombay appears to show a
S h ipm en ts this w eek.
Y e a r Great C onti
B r it’n. nen t.
Sh ip m en ts Since J a n .
Great
Total. B r ita in
C on ti
nen t.
1.*
Receipts.
This
W eek.
Since
J a n . 1.*
It will be observed that the receipts at Alexandria for th£
decrease compared with last year in the week’s receipts
o f 12,000 bales and a decrease in shipments of 8,000 bales, and past three weeks have been smaller than last year, and as th©
THE
50
[V ol. XLVL
CHRONICLE.
1887-88.
crop this year was an early one, it looks as if the smaller esti
1886-87. 1885-86. 1884-85. 1883-84. 1882-83.
mate would prove correct.
To. Nv.30 3,046,616 2,590,912' 2,524,718 2,557,994 2,420,284 2,401,937
40,400
32,561
51,576
35,466
36,857
37,606
The report of the “ Alexandria General Produce Associa Dec. 1 __
30,603
34,792
S.
38,574
29,351
46,724
“ 2....
tion, Cotton Section,” for November, referred to above, is as
S.
“ 3 ...
« 4 ....
“ 5 ....
« 6....
“ 7 ....
“ 8....
“ 9 ....
« 10 . ...
« 1 1 ...
« 1 2 ....
« 1 3 ...
« 1 4 ...
« 1 5 ....
« 1 6 ...
« 1 7 ....
« 1 8 ....
“ 1 9 ....
“ 20. . . .
“ 2 1 ....
“ 22. . . .
« 2 3 ....
“ 2 4 ....
« 2 5 ....
« 2 6 ....
« 2 7 ....
« 2 8 ....
« 2 9 ....
« 3 0 ....
« 3 1 ....
follow s:
B i h i r a .—In
this province picking was completed early this year, the
entire crop having been gathered before November 10th. Tins is the
only?advantage which Behera drew from the great heat of October. On
the other hand, fogs did some damage, and we now estimate the average
yield at 3 cantars per feddan.
. C h a r k ith .—Reports from this province are somewhat contradictory.
It seems, however, to be a fact that here also the beneficial effects of the
heat were not so great as they appeared to be. We must, indeed, reduce
our previous estimate about 10 per cent, winch would make the average
yield o f Charki6h between 2% and 3 cantars per feddan.
fsL a k a h lie h .— The harvest in this province has turned out satisfactorily.
The average yield is placed at 3 cantars, which agrees with our Septem-
48,638
38,406
S.
53,579
30,121
36,529
28,853
40,39 3
34,000
S.
62,472
38,370
41,211
35,076
83,530
37,037
S.
63,408
42,325
45,783
35,875
58,617
33,640
S.
47,376
43,083
36,261
29,773
46,485
40,247
S.
57,983
37,139
31,238
39,535
42,877
31,429
S.
42,005
33,536'
28,165
28,108
50,659
32,811
S.
42,450
39,245
24,883
27,199
36,271
35,490
S.
31,529
27,598
33,631
29,805
30,771
24,650
32,235
44,918
39,900
S.
49,972
41,919
36,266
33,148
46,929
40,180
S.
44,303
47,949
32,472
29,752
43,355
37,360
S.
50,879
53,083
31,719
58,940
31,185
32,106
S.
38,916
39,963
23,687
42,576
31,488
36,5731
69,328!
42,484
S.
53,026
35,689
29,964
43,651
84,643
31,338
S.
56,658
32,675
31,541
37,300
68,828
24,640
S.
36,319
40,116
26,457
27,170
53,191
27,328
S.
42,787
22,724
31,955
49,256
46,652
49,583
35,3161
52,116
54,997
8.
57,783
40,050
34,347
35,221
58,665
40,736
S.
44,845
41,367
43,281
30,440
47,064
30,796
S.
46,558
32,705
24,528
24,053
43,051
21,548
S.
42,039
50,747
40,832
41,373
27,721
55,741
40,280
S.
48,904
34,208
40,107
37,112
63,398
36,531
S.
49,822
35,343
39,243
35,840
61,344
45,938
S.
50,258
38,039
32,017
35,045
50,626
53,011
S.
O alioubiih. —Reports from this province are good. The absence of fogs
during October and the excellent character of the soil have allowed
orops to profit greatly by the favorable temperature, and to repair in
great measure the injury done by worms. The average yield is thought
to be about 3 % cantars per feddan, which accords with our previous
expectations.
.
G arbteh .—Reports from Garbi6h are rather contradictory, as is fre
quently the case in this province, whose extent is so great that the influ
ences to which the crops are subject vary in different sections, and hence
do not produce everywhere the same results. The reports seem to indi
cate, however, that if some districts have been especially favored, the
greater part of the province is far from satisfied with the crop. The
fogs at the close of Octob r were destructive here too, and the hot
weather, while hastening th opening of the bolls, has prevented them
from developing and attaining their normal weight. For these reasons
w e believe the crop in this province will fall about ^ cantar per feddan
below our first estimate.
.
M e n o u fiih .—We have no changes to make in our predictions for
Menoufieh. It is becoming more and more certain that the crop there
Will be about one-third less than in 1886.
F a y o u m .—The crop of this province will amount, as we have said preTiously, to 80,000 cantars. .
B e n i Sou ef .—Picking was finished in this province some time since,
and we have only to reiterate the statements made by us in September
and October.
Tot.Dc.31 4,010,200 3,755,798 3,594,638 3,662,205 3,479,937 3,514,473
G eneral observa tion ?.—As is shown by the above, our predictions have
49,366
10,259
19,952
24,171
25,034
been confirmed, except as regards B6h6ra, CharkWli and Garbieh. In Jan. 1 ___
35,488
19,022
18,208
15,144
S.
33,005
« 2 ....
these three provinces the October fogs and, to a certain extent, exces
24,056
23,206
sive heat, have caused a diminution in the crop. We think, too, the : « 3 ....
18,888
S.
32,649
30,629
amount to be ginned in the whole of Lower Egypt is less than last year.
29,181
19,977
24,844
S.
25,749
20,582
« 4 ....
These facts compel us to reduce by about 150,000 cantars our September
33,895
14,490
25,885
31,730
18,060
21,857
« 5 ....
estimate of 3,000,000 cantars, and to place the total result of the harvest
34,713
21,985
S.
a t only about 2,850,000 cantars gross. In consequence of the earliness
14,401
25,879
28,585
« 6 ...
o f the picking, now everywhere completed, we shall receive no further
reports from our correspondents in the interior and shall not publish a T ota l.. . 4,144,858 3,853,169 3,704,938 3,762,562 3,571,452 3,721,172
r 6sum6 in December, as we did in 1886.
Percentage of tota
61-82
73-61
68-65 1 78-78
E ast I ndia Crop —The following is from Messrs. Gaddum,
port rec’pts J an. € 72-42
Bythell & Co.’s report, dated Bombay, Dec. 2:
.
Crop reports continue favorable. Supplies are increasing slowly in the
Oomra cotton markets, but tlie arrivals so far are comparatively very
email.
_.
„
Reports from the Broach and Dhollera districts continue very satislotorv. and
factory,
and so
so far
far everything
everythin; points to a good yield in both these districts.
., ,
exports of cotton fr o m the United
I States the past week, as per latest mail returns, have readied.
I
SHIPPING N e w s .— The
128 095bales
So
fa r as
th e S ou th ern p orts are co n ce rn e d , th ese
>
•
,
,. ji t™-toliicri-nTVh and nnhlished in
are the same exports reported by telegraph and pubUsnea in
the Chronicle last Friday. With regard to New York we
The Bombay Citton Company’s report of the same] date include the manifests of all vessels cleared up to Thursday.
Total bales.
says
New York - To Liverpool, per steamers City of Chicago, 1,499
New cotton continues to come in from Bengal and Ocmrawuttee very
sparingly, 6,041 bales less from the former and 14,833 bales less from the
latter districts than last year having been received during the fortnight.
The new Bengal that is coming into the up-country markets is being
eagerly taken up by mills in the neighborhood; and Calcutta, assisted by
a reduction in railway freights in that direction, is drawing off supplies.
The weather has been settled in all the cotton districts, and there is
nothing fresh to report in this respect. Broach, promises to be larger
than last year, and Dhollera about the same; but pn the other hand esti
mates of the Oomrawuttee crop have been considerably reduced lately
b y those best able to judge, some authorities going so far as to say that
4he yield will be 40 per cent less than last season—which however was a
large crop—the largest since the bumper crop of 1882. Bengals also,
there appears little reason to doubt, will be short this season, but the
Shortage in both Oomrawuttee and Bengal will tell considerably on the
Clearances during the latter portion of this year, as they are both late.
"...G a llia , 1,778.... Germanic, 2 ,938... Lake Huron, 849
....Nevada, 1,388... Rosse, 3 ,008... Spam, 3,618............. 13.078
To Hull, per steamer Marengo, 1,047......................................... 1,047
To Havre, per steamer La Champagne, 449.............................
449
To Bremen, per steamer Fulda, 2 4 6 ..........................................
To Hamburg, per steamer Moravia, 2,650...............-- ............ 2,bOU
To Antwerp, per steamers Belgenland, 1,972— Hermann,
2 990............................................................................................
To Christiana*, per steamer Island, 200......................................
200
To Stettin, per steamer Gothia, 1 ,1 0 0 .......................................
To Genoa, per steamer Utopia, 944........— . . . . . . . . .
944
New Orleans—T o Liverpool, per steamers Californian, 2,8 a5...
Electrician, 6,850
Guido, 7 ,4 0 0 ....Historian, 3 ,6 66 ....
per ship Algoma, 4,240............................................................. 25,041
To Havre, per ship Stephan, 4,240......................... ................... 4,249
To Bremen, per steamer Wotan, 4,080...................................... 4,u»u
To Hamburg, per steamer Carlton, 1,048.................................. 1,048
J ute Butts, B agging . & c.—The demand for bagging his
obile—To Liverpool, per steamer Clare, 5 ,0 6 1 ............. ............
5,Obi
been of a jobbing character and but li'tle inquiry is reported M
Savannah—To Liverpool, per steamers Dorset, 6,943— Timor,
■
for any quantity. Prices are about as last, sellers quoting
I6,285... per
I bark Olaf
\______
Glas, 1,943.................... ................ - - 15,171
—To
per bark Nordenskjold, 1
,5 0 0 ....
c for lj^lb, 6c for lV lb. t ^ c for 21b and 7c for standard I c h a r lleston
eston —
'To* Liverpool, per’
1,500.
..
1,300__ Pohona, 2,566___Wilhelmme
Pust, 1,100.. 6,466
grades. Rather more trade is being done in butts, though the 1 ToOphir,
1
°
B g A p,lst-1100Havre, per bark P. A. Muneh, 1,300...................................... 1,300
market is not active. For paper grades quo‘ations are 2
To Bremen, per steamer Thornholme, 4,1 00 ... . . . ---- 4,100
2%c, while bagging qualities are held at 2%@2%o as to Galveston—To Liverpool, per steamers Benita, 2 ,9 9 4 ....Northern, 5,808 .. per bark Prince Rudolph, 3,838........
---• 12,640
•quantity.
To Bremen, per steamers Falloden, 4 ,060... .Princess, 4,976, 9,036
Comparative P ort R eceipts and Daily Crop Movement.
To Salerno, per bark Mississippi, 2,032..................................... 2,032
—A comparison of the port movement by weeks is not accurate, Norfolk—To Liverpool, per steamer Canopus, 6,000 . . . . . - 6.000
est P oint—To Liverpool, per steamer Broomhaugh, 6,297—
6,297
as the weeks in different years do not end on the same day of W
Newport News—To Liverpool, per steamer San Juan, 3,444—
3,444
the month. We have consequently added to our other standing B a l t i m o r e — To Liverpool, per steamers Nessmore, 3,368... Peru
vian, 500..........................- ......................................................... 3>»o8
tables a daily and monthly statement, that the reader may
To London, per steamer Minnesota, 200...................................
¿uo
constantly have before him the data for seeing the exact relative
To Havre, per steamer Amethyst, 400..................................- •400
movement for the years named. The movement since Boston —To Liverpool, per steamers Palestine, 1,544. .Pavoma,
September 1, 1887, and in previous years, has been as follows
1,414............................................................................................ 2,958
37
To Yarmouth, per steamer Dominion, 37..................................
M o n th ly
Receipts*
Y ea r B e g in n in g Septem ber
1887.
1886.
1885.
1884.
1.
1883.
Total............................................................................................... 138,095
1882.
fjept’mb’r 654,776 359,203 385,642 345,445 343,812 326,656
October.. 1,213,404 1,034,450 1,055,524 1,090,385 1,046,092 980,584
Novemb’r 1,178,436 1,197,259 1,083,552 1,122,164 1,030,380 1,094,697
Deoemb’r 963,584 1,161,886 1,069,920 1,104,211 1,059,653 1,112,536
Total....... 4,010,200 3,755,798 3,594,638 3,662,205 3,479,937 3,514,473
Perc’tage of tot. port
58-38
71-75
76-68
66-40
receipts Dec. 31 .. 70-59
■This statement shows that up to Dec, 31 the receipts at the
ports this year were 254,402 bales more than in 1886-7 and
-415,562 bales more than at the same time in 1885-6. By add
ing to the totals to Dec, 31 the daily receipts since that time
we shall be able to reach an exact comparison of the move
ment for the different years.
T h e pa rticu la rs o f these sh ip m en ts, a rra n ged in ou r u su al
form, are as follows :
L iv e r
pool.
A n tw 'p ,
B re m . Chris- Salerno
and, tiana <£ a n d
Y a rH v ll. H a vre. H a m b. Stettin. Genoa, m o’ th.
944 ........
449 2,896 6,262
13,078 1,047
25,041
.......
5,061
.......
15,171
.......
ï , ’30<j 4,100
6,466
12,640 ..................... 9,036 .*.*.*.".* 2,032 .......
.......
6,000
..................................
6,297 ................
.......
3,444
..
**400
4,068
------ ••••’ ■ . . .37
2,958
37
T ota l...100,224 1,047 6,389 21,160 6,262 2,976
New Y o rk .
N. Orleans.
Mobile.......
Savannah .
Charleston.
Galveston.
Norfolk ...
WestPoint.
Newport N.
Baltimore .
Boston.......
Total.
24,676
5,061
15,171
11,866
23,708
6,000
6.297
3,444
4,468
2,995
138,095
J anuary 7, 1888.]
THE
CHRONICLE.
Below we add the clearances this week of vessels carrying
cotton from United States ports, bringing our data down to
the latest dates:
W e d n es . , J a n . 4 .
G a l v e s t o n — For Havre—Deo. 30—Bark Braekka, 1,100.
N e w O r l e a n s —For Liverpool—Dec. 30—Steamers Elysia, 5,650..
Pedro, 2,825... Dec. 31—Steamer Leonora, 6,600.
For Barcelona—Dec. 30—Steamer Hernan Cortes, 4,764.
S a v a n n a h —For Liverpool—Dec. 31—Steamer Puerto Riqueno, 4,590.
Ch a r l e s t o n —For Liverpool—Dec. 31—Bark Capenhurst, 1,820.
For Genoa—Dec. 30—Bark Aranna, 1,460.
W il m in g t o n — For Liverpool—Dec. 31—Bark Oluff, 1,236.
N o r f o l k —For Liverpool—Dec. 31—Steamer San Juan, 3,537.
B oston — For Liverpool—Dec. 27—Steamer Rom an,________Dec. 2 8 Steamers Bavarian, 1,971; Samaria,--------.
B a l t im o r e —For Liverpool—Dec. 31—Steamer Vancouver,-------.
P h il a d e l p h i a — For Liverpool—Dec. 27—Steamer Lord Clive, 710.
For Antwerp—Dec. 30—Steamer Nederland, 358.
January—
Jan.-Feb. ..
Feb.-March
Mar.-April.
April-May .
May-June..
Jun e-July..
July-Aug ..
A u g .-S e p t..
Below we give all news received to date of disasters to ves
sels carrying cotton from United States ports, &c.
Cotton freights the past week have been as follows :
Satur.
M on .
1
Liverpool, steam d.
Do
sail...«?.
Havre, steam__ e.
Do
sail.........c.
Bremen, steam c.
Do
sail.......e.
Hamburg, steam c.
Do
sail. ..r.
Amst’d’m, steam.c.
Do via Leith.d.
Reval, steam___d.
Do sail......... d.
Barcelona, steam d.
Genoa, steam . . d.
Trieste, steam... d.
Antwerp, steam d.
Tues.
1W ednes.
%®964 % ® 9 6 4
....
....
932® ®6 932'®38
1
:
•
M
©
£
w
©
s
if
p
J
:
i
•
:
:
%
....
1132®88
....
35*
T hurs.
F ri.
% ® 9 64
% . ® 9 64
%
932®%
9R 2 ®
%
%
%
n 32
U32
l l 32
35*
35*
35*
.
9 64
732® %
782
%
9 64
73j ®%
732
%
964
L i v e r p o o l .— By
cable from Liverpool we have the follow
ing statement of the week’s sales, stocks, &c., at that port
we add previous weeks for comparison.
Open High Low. Clos. Open High Low. Clos. OpenHigh
d.
a.
d.
d.
d.
d.
d.
d.
d. I d.
5 40 5 40 5 40 5 40 5 37 5 37 5 37 5 37 5 38 5 39
5 40 5 40 5 40 5 40 5 37 5 37 5 37 5 37 5 38 5 39
5 41 5 41 5 41 5 41 5 38 5 88 538 538 539 5 40
5 42 5 43 5 42 5 42 5 39 5 39 539 5 39 5 40 5 42
5 44 5 44 5 44 5 44 5 41 5 41 5 41 5 41 5 42 5 43
5 46 5 46 5 46 5 46 5 43 5 43 5 43 5 43 5 44 5 45
5 48 5 48 548 5 48 5 45 5 45 5 45 5 45 5 48 5 47
5 50 550 5 50 5 50 5 47 5 47 5 47 5 47 5 48 I 5 49
5 51 5 51 5 51 5 51 548 5 48 548 5 48 5 49 5 50
Low. Clos.
d.
538
538
539
5 40
5 42
5 44
5 48
548
5 49
d.
539
539
540
548
543
545
5 47
5 49
050
F r id a y , P. M., January 6, 1888.
D AILY CLOSING PRICES OF NO. 2 RED WINTER W HEAT.
.
732®%
732
%
964
F r i., J a n . 6.
The markets for flour and meal have changed very little
in the week under review. The demand has been quite slug
gish, but this is usually the case in the first week of a new
year, and the fact has, therefore, no significance. Prices have
been well maintained, but do not show any decided tendency
to advance.
The wheat market opened weak and unst ttled. Regular
business, whether for export or home milling, was very dull,
and some actii e operators for the speculative account showed
a disposition to get “ short” of the market, in view of the ful
figures at which the visible supply is maintained. But there
was revival of export demand on Wednesday, and reports of
the condition of the fill-sown crop were unfavorable front
many districts, bringing from them orders to buy, which
turned the course of values against the bears. The export
demand was mainly from the Peninsula and Antwerp, but a
line of spring wheat was sent on consignment to Glasgow.
To day the market was easier and the speculation dull, but
the lower prices on the spot were followed by sales of 64,000
bushels for export.
7B2®932 732®982 732®932 732®932
132®%
732
%
T h u rs . J a n . 5 .
B R E A D S T U F F S .
K i m b e r l e y , steamer (Br.)—Advices of Dec. 30th state that the British
steamer Kimberley from New Orleans for Liverpool, ashore near
Wash Woods, N. C., was hauled astern six feet and her stem hauled
around half a point.
M e r c h a n t P r in c e , steamer (Br.), Taylor, at Bremen, from Galveston,
which had a Are in her fore hold, had onDec. 28, discharged 1,000
hales of cotton from that part of the ship. Of these 750 bales were
damaged by fire and water. The steamer’s other compartments have
six feet of water in them. It is thought that the remainder of the
cargo is damaged by water.
R. F. M a t t h e w s , steamer (Br.), Hoff, from New Orleans via Norfolk and
Shields for Reval, before reported aground near Copenhagen,
had her fore compartment f uU of water. The captain of the steamer
has entered into a contract with the Svitzer Company to take his
vessel to Copenhagen. They agree to do this for 17 per cent of the
dry and 27% per cent of the wet cargo, with 20 per cent on the
ship if she is floated. If she is wrecked they are to receive 30 per
cent of the cargo and 33 *2 per cent of the salved materials.
51
Sat.
A pi
Ma^
92%
93%
94%
95%
96%
96%
1 00
M on»
;
W
©
S
p
<<
•
Tues.
91%
92%
93%
94%
95
95%
98%
Wed.
T hurs.
91%
92%
93%
94%
95%
95%
98%
91%
92%
93%
94%
95%
95%
98%
F ri.
91%
9238
933s
94%
95%
95%
98%
Indian corn has been dull and drooping. The export has
been trifling and the local trade kept within the narrowest
limit. There is a pretty free movement of the new crop,
D ec. 16.
Dee. 23.
D ec. 30.
Ja n . 6.
which discourages 1peculation for the rise. To-day the mar
Sales of the week............. bales
75,000
74,000
59,000
49,000
Of which exporters took__
5,000
3,000
4,000
5,000 ket favored buyers, but the decline was unimportant.
Of which speculators took ...
Sales American.........................
Actual export............................
Forwarded .........................•___
Total stock—Estimated............
Of which American—Estim’d
Total import of the week........
Of which American...............
Amount afloat.......... ...............
Of which American...............
4,000
52,000
9,000
22,000
570,000
389,000
85,000
67,000
287,000
270,000
6,000
6,000
3,000
51,000
38,000
32,000
9,000
11,000
10,000
20,000
26,000
25,000
582,000 604,000 623,000
402,000 419,000 444,000
105,000 111,000
95,000
83,000
83,000
80,000
270,000 285,000 293,000
255,000 275,000 278,000
Luc j-uLvcipuui iu.aiii.ei/ iui sputa auu. iucures eacn
nunc ui
day of the week ending Jan. 6 and the daily closing prices
of spot cotton, have been as follows :
Spot.
Market, )
12:30 P.M. \
Mid.Upl’ds.
Mid. Orl’ns.
Sales..........
Spec. & exp.
F u tu res.
S a tu rd a y M o n d a y . T uesday.
W ednes.
T h u rsd ’y .
Freely
offered.
Steady.
5%
10,000
1,500
12,000
1,500
i
Steady.
Freely
offered.
k
0
5%
51310
12,000
1,500
51116
5%
12,000
1,500
w
©
tx
p*
s
Quiet.
Market, Ì
4 P. M. Ç
Firm.
K 18
Sat.
January delivery............... 63%
February delivery............. 63%
May delivery....................... 63
%
63%
M on .
PjW
Äg
^ pi
Tues.
63
63%
63%
W ed.
T hurs.
62%
63
63%
62%
62%
63%
F ri.
62%
62%
63
Oats further advanced, but soon reacted in sympathy with
corn. To-d8y the market was dull and easier.
D AILY CLOSING PRICES OF NO. 2 MIXED OATS.
Sat.
39%
40%
41%
M on .
P .M
P. O
^ F
Tues.
39%
40
41%
W ed.
39
39%
41%
Thurs.
Barley and barley malt are more firmly held,
buckwheat are quiet.
The following are the closing quotations:
38%
39%
41%
F r i.
38%
39%
41
Rye and
FLOUR.
Fine.................. $ bbl. $2 20®$2 50
Superflue................... 2 50® 3 00
Spring wheat extras. 2 80® 3 20
Quiet at Quiet at Steady at Minn, clear and stra’t. 3 65® 4 60
1-64® 2-64 1-64 de
1-64 ad
Wintershipp’gextras. 2 85® 3 25
decline.
cline.
vance.
Winter X X and X X X . 3 30® 4 30
Quiet and Barely
Patents....................... 4 25® 5 00
Steady.
steady.
steady.
Southern supers........ 2 75® 3 00
South’n com. extras.. 3 25® 3 50
P
Market, }
12:30 P.M. J
F r id a y.
D AILY CLOSING PRICES OF NO. 2 MIXED CORN.
Southern bakers’ and
family brands........ $3 60®$4 30
Rye flour, superfine.. 3 50® 3 75
Fine........................... 2
70® 2 75
Com meal—
Western, &c.............. 3
00® 3 25
Brandywine............ 3 20® 3 25
Buckwheat flour, per
100 lbs..... ............... 2 20® 2 3
The opening, highest, lowest and closing prices of futures at
GRAIN.
Liverpool for each day of the week are given below. These
prices are on the basis of Uplands, Low Middling clause, unless W heatOats—Mixed.............. 38 ® 41
Spring, per hush... 86 ® 96
otherwise stated.
White...................... 41 ® 45
S a t., D e c . 3 1 .
January. ..
Jan.-Feb...
Feb.-March
Mar.-A pril.
April-May..
May-June..
June-J uly..
July-Aug...
Aug.-Sept..
M o n ., J a n . 2 .
T u e s., J a n . 3 .
j
Open High Low. Clos.
\
;
d.
542
5 43
5 44
5 45
5 47
5 49
5 51
5 53
5 54
hi
©
©
a
P
■
•
s
x
d.
5 42
5 42
5 44
5 45
5 47
5 49
5 51
5 53
5 54
d.
542
5 42
544
5 45
5 47
5 49
5 51
5 53
554
d.
5 42
5 42
5 45
5 47
5 49
5 51
5 53
5 54
Spring No. 2 .......... 91 ® 92
No. 2 mixed........... 38%®
Red winter No. 2 ... 92 ® 93
No. 2 white............ 41%®
Red winter............. 86 ® 95
Barley—
White...................... 85 ® 95
Canada No. 1 ........ 94 ®
Com—West’n mixed. 60 ® 64
Two-rowed State.. 78 ®
West’n mixed No. 2. 62 %® 63%
Six-rowed State___ 83 ®
Western white....... 60 ® 64
Milwaukee No. 2 ... 83 ®
Western yellow___ 60 ® 64
Malt—State, 4-rowed, 95 ®1
White Southern............. ® ___
State, 2 -row ed..... 85 ®
B yeBuckwheat................ 60 ®
State & Pa., $ hush, 67 ® 70
40
42%
98
82
86
86
06
96
The movement of breadstuffs to market is indicated in the
statement below, prepared by us from the figures of the New
York Produce Exchange. We first give the receipts at Western
lake and river ports, arranged so as to present the compara
tive movement for the week ending Dec. 31, 1887, and since
August 1, for each of the last three years:
THE
r 52
CHRONICLE.
Oats. 1 Barley. | Rye.
1 Wheat. 1 Corn.
BblsAmbs' Bush.601bf Bush.56lbs Busk 32 lbs BushAti IbsBu. 56 lbs
24,555
236,980
422,550
664,460
336.334
177,598
Chicago.......
9,727
l'.6,868
44,000
26,880
168,575j
52,702
Milwaukee...
1,660
7,000
1,100
17,527
86,646
4,298
T oledo.........
£9,358
9,419
81,380
80,564
4,060
Detroit........
42
7,921
22,464
29,850
55,037,
9,240
Cleveland...
8J250
94,200
381,340
548,990
32,9c 6
10.810
St. Louis......
7,700
33,600
132,800
361,450
17,000
1,400
Peoria..........
590,149)
570,240
Minneapolis.
51,934
525,927
818,173
260,138 1,882,5011 1,660,037
,. Tot.wk. ’87.
26.133
889.550
710,837
188.183 2,271,400( 1,534,896
lam e wk.’80.
68,230
588,042
826,598
126,634 1,423,399 2,564,935
Same wk.’85.
Since Aug. 1.
I
1,055,421
5.541,106 70.264,884] 40,766,931 1 37.719.214 15,611,559
i8 tn ..........
4.765,849 59,704',3. O’ 42,924,903 J 34,082.682 14,116,275 1,295,227
1886*.........
8,901,366 40,524,3811 44.391,917 1 30,575,540 12,530.013 2,034,649
1885*.........
Receipts at—
[V ol.
W heat,
bu sh.
Flour.
C om ,
bush.
R ye,
bush..
Oats,
bush.
* Include one week extra.
B a r le y ,
bush.
274,077 3,676,855
435,429 2,735,798
774,819 2,393.768
567,2211,751,994=
Tot. Deo. 24, ’87. 44,247.634 5,759,407 5,859,191
Tot. Jan. 1, ’87. 62,729.869 13,783,114 5,026,610
Tot. Jan. 2, ’ 861 58,645.325 10,255,337 3,419,251
T ot Jan. 3 ,’85t 43,366.972 4,754,497 2,347,970
.
XLYI.
t Minneapolis and St. Paul not included.
According to Beerbohm’s London cablegram, the amount of
wheat and corn on passage at the dates mentioned stood a3
follows:
W eek en d in g Ja n .
4.
W eek en d in g Dee.
28.
C ra in o n P assage.
To United Kingdom.. qrs.
To Continent.....................
1,447,000
253,000
238,000
62,000
C orn .
Wheat.
C om .
Wheat.
1,455,000
211,000
380,000
49,000
1 ,666,000 429,000
1,700,000 300,000
Total quarters...........
Equal in bushels............... 13.600.000 2.400.000 13.328.000 3.432.000
Same week in 1886 bush. 23.440.000 3.320.000 22.480.000 3.200.000
The receipts of flour and grain at the seaboard ports for the
The exports of Indian wheat for the week, year and season
'week ended December 31, 1887, follow:
are as below:
A t—
Hew York........
Boston..............
Montreal..........
Philadelphia...
Baltimore........
B ich m on d .___
orfolk, Y a---Hew Orleans...
198,885
47,284
3,265
23,822
4=1,893
4,989
238,900
54,802
35,400
12,863
64,298
5,367
8,951
Bye,
Oate,
B a r le y 1
bush.,
Ibush.
405,000 100,995
62,600
6,570
14,550 1,200
28,780 33,600
C orn ,
bush.
W heat,
bush.
F lou r,
täte.
194,700
76,034
67,619
201,680
11,342
bush.
1,28C
2,105
20,000
60,000 12.320.000
120,000 11.560.000
Total.....................................b u 3h.
20,000
180,000 23,880,000
To Continent............................. bush.
544,601142,365
553,466 164,380
7,103
8,875
The total receipts at tin same ports for the period from Jan
1 to December 31, compare as follows for four years:
*1886.
'1885.
*1884.
14,026,373 13,822,303 14,216,719
W h e a t............ hush. 85,682,217 73,759,562 45,929,470 70,735,835
Oorn
49,068,330 79.116,930 89,274,125 50.701,267
42,489,788 32,739,211
O ats.'." .................... ^ $ 6 3 1 38,045.582
6,635,767
6,583,371
6,863,341
B a rle y ......................
5,546,440
1,164,406
635,606
B y e . . . ........................
741,322
Total g r a in .............. 178,081,014 198,421,021185,421,160 166,358,520
* Include one week extra.
The exports from the several seabiard ports for the week
ending Dec. 31, 1887, are shown in the annexed statement:
J T O tr l
—
w h ea t.
C orn .
Bush.
B u sh .
New York
Boston. -Portland.
N. N ew s.
Philadel.
Baltim’re
N. Orl’n s .
Richm’d .
Norfolk..
I
I
86,783
98,206
23,540
116,191
49,762
51,428
176,258,
22,846, 141,963
Tot. w ’k. 407,633
B’me time,
1886. .. 1,503,547
F lo u r .
Oats.
B bls.
B u sh .
3,028
93.286
51,122
2,727
1.501
14.286
40,694
1.502
4,630
209,748
44,233
689,051* 178,336
17,550
359,344
The destination of the exports is as below. We add the
corresponding period of last year for comparison.
1887.
3 887.
W eek ,
Dec. 31.
W eek.
Jan. 1.
B bls.
Bbls.
C orn.
W heat.
F lo u r.
E x p o rts
1f o r week
to—
1887.
1887.
W eek,
D ec. 31.
W eek,
Jan
1.
W eek,
D ec 31.
Week.
J an. 1.
B u sh .
B ush
B u sh .
1887.
1887.
Un.King. 158,297 121,085 290,200 1,136,231 14=8,603
4,076 117,367 367,286 138,250
8,076
Cont’nt «.
64,075
30
66
28,049
6 .&0 .Am. i 14,712
6,898
20,718
23,760
W. Indies:
150
4,382
4,178
Brit, col’s;
1,368
26
725
Oth.c’n’ts :
T ota l... 209.7 4 8 1: 178,336' 407,633 1.503,547» 359,344
.
B u sh .
536,777
126,915
2,281
23,078
689,051
The visible supply of grain, comprising the stocks in granary
at the nrincipal points of accumulation at lake and seaboard
ports, and in transit by water, December 31, 1887 :
W heat,
I n store a t -
J R
afloat........
Buffalo .................
C h icago..............
«
afloat....
yan kee.
Toledo
Beteoit " V..........
Oswego .............
S t L o u i s * . ........
Cincinnati............
Toronto............
Montreal.............
Philadelphia.......
P e o r ia ...............
Indianapolis........
Kansas City........
Baltim ore............
Minneapolis........
6t. P a u l - 3 2
On M ississippi....
On lakes . . . . . . . . .
On canal & river.
Com ,
bush.
Oats,
bush.
1,633,074 2,055,691
208,000
34,200
142,983
2,552,522
56,000
5,329,150 1,280,320 1,035,945
209,731
20,275
4,005
¡,0 3 1 0 5 4
5,739
41,512
1,767,974
16,924
36,848
1,119,984
50.000
. 70,000
4,578,690 1.040.144 1,194,051
27,000 239,000
28,000
101,879 282,055
4,535
1^0,123
10,292 101,861
137,369
48,425
239,064
585,090
63,836 397,251
63,341
29,750 205,620
178,066
80,717 136,206
386,507
693,660
®’o o - ’nRR
o , 0 0 0
130,100
44,800
-----6,300
7,ooo
55,500
291,526
Tot. Dec. 31, ’87. 44,421,130 6,025,25S 5,976,781
1 to
31.
"èoó To United Kingdom..................bush.
4,716
Total week. 329,089 452,580 708,321
Cor. week 86.. 330,685 1,192,033 1,151,003
Jfaports
A p r il
D ec.
21,255
40,950 [156,946
1887.
15,669,047
F lo u r...............hhls.___________
W eek end 'g W eek en d ’g
D ec. 24.
Dec. 31.
I n d ia n W heat E xp orts.
R ye,
bush.
14,793
4,500
58,000
70,862
B a rley ,
bush.
137,391
321,200
302,500
984,689
30,001
352,381
26,546
247,200
10,245
16,698
81,516
653,900
73,222
115,000
16,844
142,725
14,502
T HE DRY GOODS T R ADE.
New Y obk , Friday, January 6,1888.
Although the demand for dry goods was light and irregular
the past week, as is usually the case at this stage of the season,
the market has shown rather more animation than of late,
owing to the arrival in town of a good many Southern jobbers
and department buyers for Western houses. The demand was
irregular; plain and patterned cotton fabrics having been
relatively more active than domestic woolens and foreign
goods, wh:ch ruled quiet in first hands. There was a large
movement in staple cotton goods, and in such spring fabrics
as prints, ginghams, dress goods, white goods, cotton hosiery,
etc., on account of previous transactions, very liberal ship
ments in this connection having been made by commission
bouses in this city and direct from the mills. The jobbing
trade was comparatively light, but by no means unsatisfac
tory for the time of year; in fact it is probable that ^rather
more than an a' erage business was done by some of the prini cipal jobbers.
D om estic C otton G oods .— The exports of cotton goods
from this port for the week ending January 8 were 4,668
packages, valued at $275,849. These shipments include 2,805
to China, 695 to South America, 610 to the West Indies, 185
to Mexico, 160 to Europe, 44 to Central America and
169 to all other countries. For the year 1887 the exports
aggregated 194,834 packages, valued at $11,885,932. Of this
total China has had 92,464 packages, valued at $4,402,241,
and 43,033 packages, valued at $8,096,788, have gone to
South America. For the year 1886 the exports to all ports
reached 211,547 packages, and in 1885 were 181,772 packages
Staple cotton goods were in moderate demand at first hands
and large shipments of plain and colored cottons were made by
the commission house s in execution of back orders. Prices ruled
firm all aloDg the line, and many brands of low-grade brown
and bleached goods, silesias, flat-fold cambrics, &c., were sub
jected to a further advance by the mill agents. Print cloths
were in active demand and deafer, the market closing strong
on the basis of 3%c. for 64x64s and 3^c. for 56x60s. Stocks
last Saturday and for the three previous years were as follows:
1887.
D ec. 31.
.
219.000
Held by Providence manufrs.
Fall River manufacturers.. . 2,000
Providence speculators.......i 21,000
Outside speculators (est)....,. 10,000
Stock o f P r i n t Cloths—
Total stock (pieces)........... , 252,000
1887.
J a n , 1.
68,000
60,000
42.000
35.000
205,000
1886.
2.
94.000
78.000
240,000
41.000
Jan.
1885.
J an. 3.
431.000
322.000
320.000
300.000
453,000 1,373,000
Prints were in fair demand and prices ruled firm in sym
900
pathy with print cloths. Printed sateens, lawns, batistes,
9,083
ginghams, white goods and cotton hosiery were freely dis
15,000
446
tributed by the commission houses on account of back orders«
3,700
D om estic W o o len G oods .— The market for men’s-wear
4,470
woolens
was tame and uninteresting, comparatively little
44,605
22,977
2,070
business having been done in heavy goods for next fall,
16,212
while the demand for spring cassimeres, suitings, worsteds,
&c., was of limited proportions. Prices are without quotable
change, but for the most part steady on the present low basis.
Satinets were in light demand, as were Kentucky jeans and
doeskins, and cloakings ruled quiet; but a fair business waa
205,221 3,498,957
THE
J anuary 7, 1888.]
CHRONICLE.
done in Jersey cloths and stockinets Flannels and blankets
were slow of sale and shawls and skirts continued quiet, but
there was a fair movement in carpets at steady prices. Dres3
goods were only in moderate request by package buyers, but
large deliveries of all-wool and worsted makes were made by
the mill agents on account of back orders.
F o r eig n D r y G oods contiaued quiet in demand, but there
was an enlarged movement in some sorts of dress goods, cot
ton hosiery, et"., in execution of former orders. Silk goods
were lightly dealt in, and men’s-wear woolens were devoid
of animation; but linen goods, white goods, hosiery and fabric
gloves were distributed in fair quantities, and embroideries
were more sought for by the manufacturing trade.
Im p o r ta tio n s o f D ry G o o d s .
m
m
1
CC
l
0O
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The importations of dry goods at this port for the week
ending Jan. 5, 1888, and since Jan. 1, and the same facts for
the corresponding periods of last year are as follows :
H
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53
R e c e i p t s o i L e a d in g ; A r t ic le s o f D o m e s t i c P r o d u c e .
The following table, based upon daily reports made to the*
New York Produce Exchange, shows the receipts of leading
articles of domestic produce in New York for the year ending
with Tuesday last, Jan. 3; a’ so the receipts for the year 1886 î
T ea r
Ashes............................
bbls.
Beans.............................................. bbls.
Breadstuffs—
Flour, wheat............................... bbls.
Com meal................................... bbls.
Wheat........................................bush.
B y e :...................
bush.
bush.
C o m ...........................
Oats.............................
bush.
Barley............................... ......b u sh .
Peas............................................ bush.
Cotton............................................bales.
Cotton seed oil................................bbls.
Flax seed....................................... bags.
Grass seed......................................bags.
Hides............................... .................No.
Hides............................................. bales.
Hops.............................................. bales.
Leather.......................................... sides.
Lead........ . . . . . . . . . . . . . . . . . . . . . . p i g s .
Molasses........................................ hhds.
Molasses.......................................b b ls.
Naval Stores—
Turpentine, crude......................bbls.
Turpentine, spirits..................... bbls
Rosin............................................bbls
Tar...............................................bbls,
Pitch.......... .................................bbls,
Oil c a k e . . . . .. . . ...................... .pkgs,
Oil, lard.......................................... bbls.
Oil, whale...................................... galls.
Peanuts........... ............................. bags.
Provisions—
Pork.......... .................................pkgs.
Beef............................................pkgs.
Cutmeat s . . . ............................... pkgs.
Butter......................................... pkgs.
Cheese.. . . . . . . . . . . . . . . . . . . . . . . .’pkgs.
Eggs..................................... .....b b ls.
Lard.................................. tcs. & bbls.
Lard..........................................k eg s.
Hogs, dressed............................... No.
Bice............................................... pkgs.
Spelter...........................................slabs.
Stearins.. . . . . . . . . . . . . . . . . . . . . . . pkgs.
Sugar...............................................bbls.
Sugar..............................................hhds.
T a llo w ........ . . . . . . . . . . . . . . . . . . . pkgs.
Tobacco..........................boxes <&eases.
hhds.
Tobacco..............................
Whiskey...........................««.bbls.
Wool..................................... .........bales.
E x p orts o f
1887.
T ea r
1886.
1,789
135,153
2,144
115,013
7,525.419
345,227
45,035,145
4 52,689
20,072,364
22,154,070
9,043,800
321,386
1,922,830
104,146
814-608
116,793
102,730
95,301
72,092
2,203.772
378,779
5,635,651
348,384
41,481,283
237,430
32,745,083
2 ’,198,471
9,159,727
477,111
1,341,130
103,237
1,021,515
71,927
107,964
62,750
89,397
2,785,134
329,023
80,512
1,993
107,846
346,372
25,090
2,144
463,054
4,702
6,973
3,514
88,430
319,743
26,954
995
633,663
3,343
97,190
110,464
129,018
36,870
893,662
1,678,674
1,938,488
1,282,136
408,4( 9
270,788
71,863
103,653
179,3 i2
22,074
29,843
6,491
72,946
133,291
84,963
189.649
150,645
136,340
39,697
930,134
1,667,025
1,980,760
1,152,354
572,496
30.1,791
79,452
95,509
90,846
14,446
3,561
1,893
85,3' 6
146,005
124,274
204,131
170,6Í7
L e a d in g ; A r t ic le s o f D o m e s t i c P r o d u c e *
The following table, based upon Custom House returns,
shows the exports from New York of all leading articles of
domestic produce for the year ending with Tuesday last, Jan.
3; also the exports for the year 1886:
I m p o r t s o f L e a d in g A r t ic le s .
The following table, compiled from Custom House returns
shows the foreign imports of leading articles at this port for
the jrears 1837 and 1886:
ITbPi quantity ia givan in
when not, otherwise specified. 1
1887.
1886. I
1887.
1886.
China, «fee.—
Metals, «fee—
China .. ...
59,805
50,501 Iron, p ig ...
131,342
95,819
Eartbenw .
36,849 “ RR, bars
38,215
12.706
2.546
G lass........
596,465
545,477 Lead, pigs.
62,745
129,972
Glassware.
83,S4i
74,774 Spelter, lbs 6,496,038 4.154,2 i5
13,211
Glass pl»te.
11,052 Steel ......... 4,350,103 3,627,507
Buttons!___
14.224
14,068 Tin, boxes. 2,052,338 2,002,735
26,036
4 0 ,8 1 2 Tin slbs.,lbs 26,806,940 27,713,025
Coal, ton s...
Cocoa, bags.
74,601 Paper Stock
141,676
292,494
335,851
Coftee, bags. 2,776,986 3,367,443 Sugar, hhds
5,409
8,420 tcs., & bbls.
Cotton,bales
373,097
372,666
Drugs, &e—
Sugar, boxes
3,731
Bark, Pèni.
3,058 and bags:; . 6,914,020 7,691,769
Blea. powd.
39,227 T e a ............. l,2 i5 ,8 5 i 1,367,920
32,932
Cochineal..
1,139
1,711 Tobacco. . . . * 126,510
95,416
Gambier . .
53,700
61,726 Wines, «fee.—
Gtiin, Arab.
1,532
1,480 Champ’gne
In d igo.......
7,794
5,863
baskets..
243,543
189.594
441
Madder, «fee
463 Wines........
228,425
241,584
78,391
Oil, Olive..
73,492 Wool, bales.
121,648
158,883
1,822
Opium .. .
1,884 R eported by
10.225
Soda, bi-cb
18,145 va lu e.
$
21,642
Soda, sal..
27,66e Cigars........ 1,734,877 1,718,924
Soda, ash.
61,063
76,820 Fancy goods
910,868
872.594
F la x ..........
8,567
6,593 Fish............
922,415
810,674
24,446
F u rs............
23,305 Fruits, &o.—
Gunny cloth
5,656
4,708 Lemons .. . 2,542,006 2,395.077
H air............
40,651
37,445 Oranges ... 1,867,211 1,221,178
Hemp, bales
385,468
339,990 Nuts.......... 2,072,498 1,575,507
Hides, «fee.—
Raisins___ 1,895,913 2,114,598
Bristles .. 5
3,754
3,844 Hides, undr. 16,224,763 19,449,213
Hides, dr’sfl
7,424 Rice............ 7,387
314,079
394,399
India rubber
101,53*
100,366 Spices, «fee,—
Iv o ry _____
2.27J
2,044 Cassia.......
134,387
234,311
Jewelry,<fccGinger.. ..
154,951
187,215
Jewelry . . .
3,76
3,563 P e p p e r .... 1,348,451 1,342,377
W atches. .
2,875
l«78t Saltpetre...
261,615!
2?9;738
Linseed....,
157,015
83,211 Woods—
Molasses...'.
93,1655
75,944 Cork. . . . . . .
918,379
910,090
Metals, &o—
EjlSiio.......
59,660
137,0«7
C utlery....
7,566
5,79'. Logwood ..
544,483
Hardware.
f»af ’ fsBinaranv. 711,401
«96
7 4 0 .« « « '
509 4 72
T ea r
Ashes, pots.................................... bbls,
Ashes, pearls..................... 1.........bbls,
Beeswax................................. ...¿ibe.
Breadstuffs—
Flour, wheat................................bbls.
Flour, rye.................................... bbls.
Corn meal............................
bbls.
W h eat....................................... bush.
Rye..................... ...... ...............bush.
Oats..............................
bush,
Barley...........................
bush.
Peas............................................ bush.
Com............................................ bush.
Caudles.. . . . . . . . . . . . . . . . . . . . . . . . .pkgs.
Coal....................................
tons.
Cotton....................................... ..bales.
Domestic»;.....................
pkgs.
H ay.. . . . . . — . . . . . . . . . . ............ bales.
H o p s ...........................................bales.
Naval. Stores—
Crude turpentine.......................bbls.
Spirits turpentine....................bbls.
Rosin........ . . ................. ........b b ls .
Tar.................................. ; . . . . . bbls.
Pitch............................................ bbls.
Oil cake,..-...-.-...............
..cw t.
Oils-L
Whale...........................................gals.
Sperm.......................... j,..............gals.
L a r d ..........................................gals.
Linseed...
........ ........... gals.
Petroleum............................
gals.
Provisions—
P ork «....................................... ..bbls.
B e e f..,.........................
bbls.
Beef...............................
tierces.
Cutmeats.........................
.lbs.
Buttèr;.
....................lbs.
Cheese............................................ lbs.
L a ç d ,.,,........................................ lbs.
Rice.;............................................... bbls.
Tallow......................
lbs.
Tobacco, leaf.................................hhds.
Tobacco...................... bales and cases.
Tobacco,manufactured..................lbs.
Whalnhon#
....................lba
1837.
T ea r
1886.
785
193
53,435
28,777
5,422,735
2,639
118,869
40,938,410
287,210
161,007
59,511
195,646
12,446,731
47,086
70,521
823,235
193,587
90,783
23.683
4,273,546
2,409
123,706
31,736,766
215,982
708,130
90,253
251,527
21,350,990
46,798
75,808
930.025
270,860
95,082
16,977
515
29,844
197,428
8,934
4,820
2,076,819
167
9,934
169,269
8,335
4,533
2,739¿94S
10,132
186,924
578,203
72,857
367,356,378
150.025
116,50F
707,371
53,435
383,051,863
181,182
72,749
37.683
239,936,651
10,215,123
72,943,256
201,107,817
15,731
40,433,927
79,551
63,681
8,407,582
198,460
178,320
51,826
40,273
274,528,645
12,017,333
76,150,915
260,112,843
16,222
24,747,726
125,337
67,849
8,500,558
193,384
611
180
THE CHRONICLE
54
iatilieta ami Stakete ©ut
DANIEL MANNING,
C.
Brewster, Cobb
&
Estabrook,
BANKERS,
No. 35
IffBMBTiiRH OF THE NEW YORK AND
BOSTON STOCK EXCHANGES.
ALSO,.
D e a le r s in M u n ic ip a l, S ta te , R a ilr o a d
a n d U n it e d S ta te s B o n d s .
Irving A. Evans
Co.,
&
BANKERS AND BROKERS,
53
S T A T E
S to ck s a n d
B onds B ought
in a ll M a rk e ts.
and
S o ld
J o s h u a W il b o u r ,
Ch a r l e s H . Sh e l d o n , J r
B e n j a m in A . J a c k s o n , W il l ia m B in n e y , J r .
Wilbour, Jackson & C o.,
BANKERS AND BROKERS,
N o.
53
OF THE
m embers
New Fork and Philadelphia Stock Exchanges.
Pittsburg Petroleum, Stock and Metal Exchange.
Private wires to New York, Boston, Philadelphia,
Baltimore and Washington.
Wm. G. Hopper & Co.,
W EYBOSSET
STREET,
Desirable SIX PER CENT WATER BONDS and
other first-class securities for sale.
Direct private wire to G r e e n & Ba t e m a n , New
York.
E. W. Clark
Co.,
&
N o . 3 5 S o u t h T l i l r d S t., P h i l a d e l p h i a .
Dealers in Commercial Paper, Government and
Railroad, Municipal and other desirable invest
«other first-class Bonds and Securities and Foreign ment Securities for sale.
Transact a general banking business. Allow inter
Exchange.
_
._ ,
Private telegraph wire to New York and Boston.
est on deposits.
,.
. • _ . _• .
Members of the Philadelphia and New York Stock
Exchanges, and connected by private wire with New
&
York.
B A N K E R S AND B R O K E R S ,
Swan
Barrett,
1 8 6 M id d le S tr e e t,
P O R T L A N D , M A IN E .
P I T T S B U R G H ,
Dealers In Government,State,County, City and Rail road Bonds, Bank Stocks, Ac.
Desirable Investment Securities constantly on hand.
PA .
SAVANNAH,
Whitney
&
Stephenson,
B R O K E R .
Buys and sells, on commission all classes of Stocks H. B. MOREHEAD.
and bonds
. .
...
.Negotiates loans on marketable securities.
New York Quotatians furnished by private ticket
every fifteen minutes.
WM. FAIRLEY
H. B. Morehead
ATLAN TA.
Humphreys Castleman,
BROKER AND DEALER IN ALL KINDS OF
SECURITIES.
Bonds and Stocks bought or sold on commission.
'Georgia and Alabama Securities specially dealt in.
Correspondents -Tobey A Kirk and ADutenhofer,
York References—A1 lanta National Bank, Atlanta, Ga.,
and Fourth NatKmal Bank, New York.
C. W . Branch
Ig-j"-
Co.,
&
»BANKERS AND BROKERS.
R I C H M O N D ,
V A .
THOM AS BRANCH &
CO.,
AND COMMISSION MERCHANTS,
R IC H M O N D , V IR G IN IA .
Clrenlars and information on funding the debts of
V irginia and North Carolina free of cost; one-eighth
o e re e n t charged for funding. Southern Railroad
‘j p State and City Bonds bought and sold.
Wilson, Colston
Co.,
N o . 51 W e s t T h ir d S tre e t,
Co.,
&
BANKERS AND BROKERS,
{Members of Baltimore Stock Exchange),
N. W. Harris
&
Co.,
C H IC A G O a n d B O S T O N .
DOKI n o of Counties, Cities, Ac., of high grade a
O’JINUu specialty. Send fo r D escriptive L ista.
&
Co.,
C IN C IN N A T I. O H IO .
BANKERS,
N o.
?
SOUTH
STREET,
B A L T IM O R E ,
TRANSACT A GENERAL DOMESTIC AND
j- ^FOREIGN BANKING BUSINESS.
Bank o f Buffalo,
BUFFALO, N. Y.
8 .8 . J e w e t t , Pres.
W m . C. Co r n w e l l , Cash’r.
C a p i t a l.. . . $ 3 0 0 , 0 0 0 I S u r p l u s ....... $ 4 5 0 , 0 0 0
This Bank has superior facilities for making Colections in and out of the city on the most liberal
lerms, and with careful attention to the best inter38ts of its correspondents.
. . _ .
, „
Correspondents :—Importers’ & Traders’ Na
tional Bank and Chemical National Bank, New York!
Merchants’ Loan & Trust Co.. Chicago; Union Bank
of London, London.
W . T. B l a c k w e l l , Pres’t.
P. A . W i l e y , Cashier.
The Bank of Durham,
N . C .,
FIRST-CLASS FACILITIES.
New York Correspondents—The National Park Bank
acd Seventh Ward National Bank,
A . A . A l e x a n d e r , Cash’r.
J .S . A l e x a n d e r , P re s.
Texas National Bank,
COLLECTIONS AND INVESTMENTS MADE.
Correspondence invited,
MERCHANTS’ NATIONAL BANK,
R IC H M O N D , V IR G IN IA .
Collections made on all Southern points on best
terms: prompt returns.
__ ___ ____
.
JOHN P. BRANCH, President.
J o h n F. Gl e n n , Cash. F r e d . R. Scott , Vioe-Pres.
WE SOLICIT THE AGENCY
OF
N A T IO N A L
A t a C h a rge o f $5
BANKS
per A nnum .
GREEN & CUNNINGHAM,
R e a l E sta te B r o k e r s ,
1405 F STREET, WASHINGTON, D. C.
Reference: Hon. A. U. W y m a n . Ex-Treasurer
U. S., Omaha. Neb.
SOUTHERN.
ip u a t t jc ia l.
Wm. Fisher & Sons,
Investment Securities
BANKERS,
A n d D e a le r s in G o v e r n m e n ts , S to c k s
a n d I n v e s t m e n t S e c u r itie s ,
Opposite Second St .,
3 2 SOUTH STREET,
B A L T I M O R E ,
M D , ,
Have Western Union wires in their offices, by
means of which immediate communication can be
B A L T IM O R E .
had with all commercial points in the country. Es
(INVESTMENT and SOUTHERN SECURITIES a pecial attention given to purchase and sale of Vir
ginia Consols, Ten-forties, Deferred and all issues
^^Correspondence solicited and information fur > of the State, and to all classes of Southern State
City and Railway Securities. Correspondence so
Correspondents—McKlm Brothers A Co.
licited.
Robert Garrett &Sons,
F . B L A N K E N H O R N , C a s h ie r .
CINCINNATI, OHIO.
BANKERS
Private wires connecting with Washington. Balti
more, Philadelphia and New York.
1
&
STOCK, BOND AND NOTE BROKERS;
George Eustis
STATE BANK BUILDING,
THE NATIONAL PROVINCIAL BANK ) ,
OF ENGLAND (Limited,)
>L ondon,
THE UNION BANK OF LONDON (L’d),)
HEINE & CO., P a r is .
_
_ _•
JOHANN GOLL & SOEHNE, \
S. BLBICHROEDER, B e r lin .
DEUTSCH SCHWEIZERISCHE CRED-) s , 0 a ii
IT BANK,
5
**a l *
SA N A N T O N IO , T E X A S .
W ESTERN .
G A ,,
• $ 3 .5 0 0 ,0 0 0
New Y o rk , May 14, 1887.
s Bank is now opened for business. Accounts
res, tfully solicited. The usual banking facilities
extended to customers.
Orders for purchase or sale of securities will
receive careful attention.
Foreign Exchange bought and sold. Facilities for
keeping accounts in Sterling Exchange, subject to
draft in kind, will be afforded. The methods of re
ceiving such deposits and making payment against
them will be subject to arrangement.
Pay Special Attention to Collections.
A. L. Hartridge,
S E C U R IT Y
-
D U RH AM ,
ESTABLISHED 187X.
BANKERS AND BROKERS,
N o. S t F O U R T H A V E N U E .
Oldest Pittsburgh members N.Y. Stock Exchange.
SO U T H E R N .
-
DRAW ON
BANKERS AND BROKERS,
P R O V ID E N C E , R . I.
PIT AL,
BANKERS: AND BROKERS,
PHILADELPHIA.
I f EMBERS OF BOSTON, NEW YORK AND
PHILADELPHIA STOCK EXCHANGES.
The Western National Bank
C IT Y OF NEW Y O R K .
28 South Third Street,
S T R E E T ,
BOSTON.
F. BLANKENHORN,
AND DEALERS IN FOREIGN EXCHANGE,
STREET,
I
President.
Cashier.
N. J o r d a n ,
H. A. Smith ,
Vice-Pres’t.
Assistant Cashier
BANKERS AND BROKERS,
425 W o o d Street, Pittsburg, P a
CONGRESS
BO STO N.
N o.
Rea Bros. & Co.,
XL\
lanfta
fjem fjatk.
of
P EN N SYLV A N IA .
M E W E N G LAN D .
[ V ol.
Im p o r ta n t N o tic e .
TO HOLDERS OF KANSAS REAL ESTATE
MORTGAGES:
send to HODGES A KNOX, TOPEKA. KANSAS,
for Free amphlet containing the compiled Laws o
Kansas relating to Read Estate Mortgages.
bought
sold .
and
W AN TED I
Southern Central o f N. Y. lsts.
Middletown Unionville & Water Gap M
Indianapo lis A Vincennes lsts and 2ds.
Scioto Valley Bonds, ail issues.
a l is e r t
e
.
h a c h f ie l d
,
N o « 5 1* P i n e S t r e e t *
Staten Island Securities
A S P E C IA L T Y .
G a s, [R a ilr o a d
an
E le c t r ic
S to ck s.
L ig h t
GEO* B* R IP L E Y ,
66 B roa d w a y,
R oom
8*
C o*
J anuary
THE CHRONICLE
7, 1888.]
arm pt^rtflagrs.
▼n
SttfrltcKticms.
%nsnxmxtz.
EQUITABLE
The United States Life
M ° rt g ag e C om pany.
Insurance Co.
C a p i t a l S u b s c r i b e d ........................... $ 3 , 0 0 0 , 0 0 0
P a i d In ( C a s h )....................................... 1 , 0 0 0 , 0 0 0
IN
TH E
GUARANTEED FARM MORTGAGES.
INVESTMENT CO,
MORTGAGES.
$ 15,000,000
,"r GOLD
INVESTED
W
ith
o
u
tlo
ss.
8END FOR PAMPHLETS AND REFERENCE«,
1 6 0 N A S S A U S T R E E T , N .T ,
isa u ik st., Boston. 33 King St., Manchester, England
i
00 Princes Street, Edinburgh, Scotland.
IN V E S T
THROUGH THE
R E L IA B L E
SOUND
GEO. H. BURFORD, President.
0. P. FRALEIGH, Seo. A. W h e e l w r i g h t , Ass’t Sec.
In c r e a s e i n A ss e t s o v e r - - - $ 1 0 0 ,0 0 0
I n c r e a s e i n N e w B u s i n e s s , - - - 4 0 p e r cent.
I n c r e a s e o f B u s in e s s in f o r c e , - $ 2 , 4 0 0 , 0 0 0
POLICIES INCONTESTABLE,
CLAIMS PAID PROMPTLY.
TEN DAYS’ GRACE.
ABSOLUTE SECURITY.
T h e m ost lib e r a l an d e q u ita b le c o n tra ct
c o n siste n t w ith re co g n iz e d b u sin e ss p r in
c ip le s.
GOOD AGENTS, desiring to represent the Com
pany, are invited to address J . S . G A F F N E Y ,
Superintendent of Agencies, at Home Office.
A N I)
THE
LAW RENCE, KAN.
F. M. P e r k i n s , Pres’t.
L. H. P e r k i n s , See.
P a id Up C a p ita l,
$ 2 5 0 ,0 0 0
E Q U IT A B L E L IF E
% U & U X K V L tZ .
TUB
Provident Life &Trust Co
OF
P H IL A D E L P H IA .
Incorporated Third Mo., 22d, 1865.
(CHARTER PERPETUAL.)
C A P I T A ! . ......................................... $ 1 , 0 0 0 , 0 0 0
ASSETS, $19,472,860 02.
INSURES LIVES, GRANTS ANNUITIES, RE
CEIVES MONEY ON DEPOSIT, returnable on de
mand, or on which interest is allowed, and is empow
ered bylaw to act as EXECUTOR, ADMINISTRA
TOR, TRUSTEE, GUARDIAN, ASSIGNEE, COM
MITTEE, RECEIVER, AGENT, etc., for the falthlul performance o f which its oapital and surplus
fund furnish ample security.
All trust funds and investments are kept separate
and apart from the assets of the company.
The income o f parties residing abroad carefully
collected and duly remitted.
SAM’L R. SHIPLEY, President.
T. W I8TAR BROWN, Vice-President.
ASA S. WING, Vice-President and Actuary
UNION M UTUAL
Life Insurance Company
E .
D E W IT T ,
P r e sid e n t.
ORGANIZED 1849.
Write to the Company or its Agents for circular
explaining
The
M a in e
N o n -F o r fe itu r e
J
ABLEST LIVING WRITERS
Art11branolies o£ Literature, Science, Politics and
O P IN IO N S :
“ We have thought that it was impossible to im
prove upou this grand publioatiou, yet it does seem
to grow better each year. We regard it as the most
marvellous pubiication of the time .’’—Christian at
ASSURANCE
SO C IE T Y .
In Surplus (namely the excest
o f accumulated funds over liabili
ties), in P remium I ncome, in the
amount o f A ssurance in F orce, the
Equitable Life Assurance Society ex
ceeds every other life assurance com
pany, and may be regarded as the
largest and strongest organization o!
its kind in the world.
Assets, January 1, 1887....... $75,510,472.76
Liabilities on 4 per ct. basis.. $59,154,597.00
Surplus on 4 per ct. basis... $16,355,875.76
New Assurance in 1886.... $111,540,203.00
Outstanding Assurance.... $411,779,098.00
“ Such a publication exhausts our superlatives.
There is nothing noteworthy in science, art, litera
ture, biography, philosophy, or religion, that cannot
be founu in it. It contains nearly ail the good
literature of the time.”—The Churchman. New York.
“ Fiction, biography, science, criticism, history,
poetry, art, and in the broader sense, politics, enter
into its scope, and are represented in its pages.
Nearly the whole world of authors and writers ap
pear in it in their best moods. The readers miss
very little that is important in the periodical do
main.” —Boston Journal.
“ It is edited with great skill and eare, and its
weekly appearance gives it certain advantages over
its monthly rivals.”—Albany Argus.
“ It maybe truthfully and cordially said that it
never offers a dry or valueless page.” —New York
Tribune.
“ At its publication price it is the oheapest reading
one can procure.”—Boston Qlobe.
“ It saves much labor for busy people who have no
time to go over the various reviews and magazines,
but who still wish to keep themselves well informed
upon the questions o f the day.’’—The Advance.
Chicago.
“ It furnishes a complete compilation o f an indis
pensable literature.” —Chicago Evening Journal.
“ It enables its readers to keep fully abreast of tho
best thought and literature of civilization.”—Christtian Advocate, Pittsburg.
“ Itis unequaled.”—North Carolina Presbyterian .
Wilmington.
“ It is absolutely without a rival/ -Montreal Oa-
zette.
The Mutual Benefit
L I F E I N S U R A N C E C O ., N E W A R K , N . J .
AMZI DODD, President
Assets (Market Values), Jan. 1,1887... .$40,826,264 15
Liabilities (4 per cent Reserve)............ 37,974,809 21
Surplus................................................... 2,851,454 94
........ 5,512,129 31
Surplus (New York Standard)
P O L I C IE S
A B S O L U T E L Y N O N -F O R F E I T A B L E
S ECO N D Y E A R .
AFTER
I n c a s e o f l a p s e the Policy is c o n t i n u e d i n f o r c e
as long as its value will pay for: or, if preferred, a
Paid-up policy for its full value is issued in exchangeAfter the second year Policies are i n c o n t e s t a b l e ,
except as against intentional fraud; and all restric.
“ In re a d in g its- c lo s e ly p rin ted pages, o n e Is
bro u g h t in c o n ta c t w ith t h e m en w h o are m ak in g
o p in io n t h e w orld o v e r. A lw a y s n ew , alw ays at
tra ctiv e , alw ays e x h ib itin g e d ito ria l w isdom , it is as
essen tia l as e v e r t o e v e r y o n e desirous o f k eep in g up
w ith th e cu rren t o f E n glish lite ra tu re .” —Episcopal
Recorder, Philadelphia.
P u blish ed w e e k l y a t $8 a year, f r e e o f p osta ge.
Or, f o r $1050, T h e L i v i n g a g e an d an y o n e o f t h e
A m e rica n $4 M onthlies (o r Harper’s Weekly o r Razor)
w ill b e sen t f o r a year, p o st p a id ; or, f o r $9 50. THE
L i v i n g a g e an d t h e St. Nicholas o r Scribner’s M aga
zine.
A d d ress,
L I T T E L L dc G o * . B o s t o n .
tions as to residence, travel or occupation are removed.
C a s h l o a n s are made to the extent of 50 per cent
of the reserve value, where valid assignments of the
Policies can be made as collateral secur.cy.
PORTLAND, MAINE.
JOHN
THREE AND A QUARTER
THOUSAND
double-column octavo pages o f
reading matter yearly. It pre
sents in an Inexpensive form,
. considering its great amount o f
matter, with freshness, owing to
its weekly issue, and with a com
pleteness nownere else attempted,
b e h e s t Essays, Reviews, Criticisms, Serial and
Short Stories, Sketches o f Travel and Disc<wery, Poetry, Scientific, Biographical,
Historical and Political Information,
from the entire body o f Foreign
Periodical Literature.
It is therefore invaluable to every American read
er,as the only satisfactorily, fresh and COMPLETE
compilation o f an indispensable current literature—
tiuiisp^isable because it embraces the productions
Worle, New York.
WESTERN FARM MORTGAGE CO.,
The choicest First Mortgage Farm Loans, also the
Company’s Ten Year Debentures, based upon its
paid up rapital and assets of over $650,000. No losses.
Eleven years’ experience, with absolute satisfaction
to over 1,500 investors. Send for circulars, forms and
fu ll information, Branch offices in N. Y. City and
Albany. New York Office 137 Broadway.
C. C. HINE & SON. Agents.
l888’ THE l i v i n g
A G E en ters u p o n its 1 7 6 t h
X ~ l u ™ e ’ h a v in g m e t w ith S n ?
ta n t co m m e n d a tio n an d su ccess
A W E E K L Y M A G A Z IN E
it g iv e s m o re than
YO RK .
W m . T . St a n d e n , A c tu a r y .
New York, 208 Broadway I Phila., cor. 4th&Chestnnt.
Boston, 23 Court St.
|Kansas City, 7th& Del.Sts.
$ 1,000,000
NEW
261, 262 & 268 Broadway, New York,
O F F IC E S ]
AMERICAN
OF
(ORGANIZED IN 1850.)
D E B E N T U R E S ,
Bearing 6 per cent, running ten years and based
exclusively upon Western Farm Mortgages, held in
trust by the American Loan A Trust Company, of
New York, for the benefit o f the bondholders. Their
safety, time to run and rate of interest make them
the most desirable investment now offered. Also,
" BONDS,
C IT Y
Littell’s Living A ge.
L aw ,
LOSSES PAID
PROMPTLY AND WITHOUT
DISCOUNT.
The Company is strong, reliable and popular; and
Issues a variety o f policies suited to the different
circumstances o f insurers.
L o s s e s paid im m e d ia te ly u p on co m p le tio n an d ap
proval o f proofs.
Chronicle Volumes
Alexander & Cargill,
Any office posjcsong i bese volumes since 1870 has
at hand f o convenient reference a complete and re
liable financial history of the period. 3 Parties having
the more recent volumes can obtsin.from the pub
shers most of the earlier volumes, or .oomplete set a
can be furnished.
SIN C E
COTTON BROKERS,
AU G U STA, G E O R G IA .
Entire attention given to purchase o f COTTON
TO ORDER for SPINNERS and EXPORTERS.
W IL L IA M
C o r r e s p o n d e n c e S o l i c it e d .
M ANHATTAN
L IF E INSURANCE COM PANY,
166 AND 158 BROADWAY, NEW YORK.
Organized A. D. 1850.
TO JANUARY 1, 1887.
$31,748,115
Premiums received................................
Claims paid to policy-holders, returned
premiums, dividends, etc....................... 24,966,759
Assets.....................
11,310,058
DESCRIPTION—One o f the oldest, strongest, best.
POLICIES—Incontestable, non-forfeitable, defin
ite cash surrender values.
RATES—Safe, low, and participating or not, as
desired.
RISKS careful and selected.
PROMPT, liberal dealing.
General Agents and Canvassers wanted in desir
able territory, to whom permanent employment and
liberal compensation will be given. Address,
JAMES M. McLEAN, President.
J . L . H alsey, 1st Y.-P res.
H . Y . W em ple.Secretar
H . B . Stokes, 2d V.-P res.
S. N . Stebbins Actuary.
R e f e r e n c e s .—National Bank of Augusta, Ga.
Henry Hentz A Co., Commission Merchants, New
York; William B. Dana & Co., Proprietors Co m m e r
c i a l & F i n a n c i a l C h r o n i c l e , and other New York
Hoases.
B .
1870.
DANA
&
C O ..
102 WILLIAM STREET, NEW YORK.
A. Strassburger. B.W.Strassburger. Leo.Strassbsrger
Strassburger & Sons,
Augustus Floyd,
N o . 1 6 C o m m e r c e S t.,
42 P i . ^ STREET,
BROKER INI
M O N T G O M E R Y ,
A L A .,
IN V E ST M E N T S E C U R IT IE S .
D E A L E R S A N D B R O K E R S I N BONDS. STOCKS
A N D M IS C E L L A N E O U S S E C U R IT IE S .
N o B u s in e s s D o n e o n M a r g in s .
S O U TH E R N S E C U R IT IE S A S P E C IA L T Y
R eferen ces.
Geo. S. Coe, Pres’t Am. Exchange Nat. Bank.
Donald Mackay. Esq., o f Vermilye A Co., Bankers.
Messrs. M. & H. Clarkson, Bankers, 42 Pine Street.
Messrs. Wm. B. Dana A Co., publishers o f the
Commercial A Financial Chronicle.
C orresp on d en ce s o lic ite d .
io n .
O rd ers h a v e p ro m p t a tte n ,
Refer by permission to First National Bank, Mont
gomery, Alag Messrs. Moses Bros., Bankers, Montornery, Ala.; Messrs.'Jos iah, Morris A Go., Bankers*
lontgomery, Ala.
f
THE
VI 1
CHRONICLE.
[V
ol.
XLVL
©atrafiiatt an« Fmcjetflu fa n te an« »anhers.
F O R E IG N .
CAN ADIAN .
The Bank of Australasia.
(Incorporated bv Royal Charter, 1835.)
Bank o f Montreal.
[ESTABLISHED 1818.]
8 1 2 ,0 0 0 ,0 0 0 Gold
- 8 6 ,0 0 0 ,0 0 0 Gold
C A P IT
mA L P a i d In
SURPLUS -
H on. Sir DONALD A. SMITH, President.
4 T h r e a d u e e d le S tre e t, L o n d o n .
TH E
Railway Share Trust Co.
(LIMITED),
NO. 4
BAN K.
B U I L D I N G S
W. J. BUCHANAN, General Manager.
LONDON, ENGLAND.
N E W Y O R K O F F IC E :
Paid-up Capital, - - - - - - £1,800,000
Reserve Fund,
800,000
Reserve Liability o f Proprietors
under the Charter - - - - 1,600,000
Letters of Credit and Drafts issued on any o f the»
numerous branches of the Bank throughout Aus
tralia and New Zealand.
Bills negotiated or sent for collection.
Telegraphic transfers made.
Deposits received in London at interest for fixed
periods, on terms whtoh mav be ascertained on ap
plication.
PRIDEAUX SELBY, Secretary.
Hong Kong & Shanghai
/T o o . 5 9 & 6 1 W A L L S T R E B T )
W ALTER W ATSO N ,) , ffents
A L E X ’R L a n g ,
i Äge
C a p it a l
P a id
U p , £ 9 7 1 ,3 6 0
S te r lin g .
Bny and sell Sterling and Continental Exchange
M id Cable Transfers; grant Commercial And Travel
ers’ Credits, available In any part of the World;
Issue drafts on, and make collections in, Chicago
M id throughout the Dominion of Canada.
L o n d o n O ffic e . N o . 2 2 A b c liu r e li L a n e .
This Company undertakes the business of Trustee
to Loans of approved Railways, negotiates and
issues Loans on the London Market, acts as Agent for
Railways and other Corporations, either in the mat
R A N K IN G
C O R P O R A T IO N .
Paid-up Capital........................................
$7,500.000
Reserve Fund.............................................. 3,900,000
Reserve Lability of Proprietors............. 7,500,000
The Corporation grant Drafts, issue Letters o f
Credit for use of Travellers, and negotiate or coljecfe
Bills payable at Bombay, Calcutta, Singapore.
Saigon, Manila, Hong Kong, FoonhoW, Amoy.
Ningpo, Shanghai, Hankow, Yokohama, Hiogo, San
Francisco and London.
A . f f l . T O W N S E N D , A g e n t , 5Q W a l l
ter o f payments of interest on Loans, Dividends on
Imperial Bank of Canada
or Registration of Stocks in London, or otherwise.
C A P I T A L ( p a id u p ) . - - $ 1 ,5 0 0 ,0 0 0
SURPLU S, - - - - - - $ 5 5 0 ,0 0 0
H . 8. HOWLAND, Pres’t. D. R. WILKIE, Cashier.
R E A d O F F IC E
TORONTO.
BRANCHES IN ONTARIO.
Essex Centre,
Fergus,
Gait. ;
lagert oil.
Niagara Falls. Toronto.
Port Colborne.
do Yonge 8t.Br.
St. Catharines. Welland««
St. Thomas.
Woodstock.
BRANCHES IN NORTHWEST.
Winnipeg.
Brandon.
Calgary.
Agents In London :
1 Agents in New York :
Lloyd’s Barnett’s A Bos- Ba n k of M o n t r e a l .
auauet’s Bank, limited, l
....
., .
Promptest attention paid to collections payable in
any part o f Canada.
... ,
Approved Canadian business paper discounted at
the Hèad Office on reasonable terms, and proceeds
remitted by draft on New York.
.__ _
Dealers in American Cur’y and Sterling Exchange.
M e r c h a n t s ’ Ba nk
OF
CAN ADA.
$5,709,200 Paid Up.
$1,700,000
Capital, •
llegerve, •
Pffiflidont. ANDREW ALLAN) Esq.
' TlcelAèsldent; ROBERT ANDERSON, E sq.
H EAD
O F F IC E ,
M ONTREAL.
GEORGE HAGUE, General Manager.
W. N. ANDERSON, Branch, Superintendent.
B A InKKKSI
..
LONDON, ENG.—The Clydesdale Bank (Limited.)
NEW YORK—The Bank of New.York, N.. B .A .
The New York Agency buys and sel s Sterling Ex
change, Cable Transfers, issues credits available in
all »parts of the world ; makes collections in .Canada
and elsewhere and issues drafts payable at any.of
the offices of the bank in Canada. Every descrip
tion of foreign banking business undertaken.
N e w V o l k A g e n c y , N o . 61 W a ll S tre e t.
HtENRY HAGUE, ,
1Agents.
JOHN B. HARRIS, JR., [ Agenis.
a g e n c y
B
o f
t h e
N o.
52
R E A D Y J A N U A R Y 1:2,
R E G IS T R A T IO N
orth
W A LL
OF
American Railway Shares.
THE ENGLISH ASSOCIATION OF AMERICAN
BOND AND SHAREHOLDERS (LIMITED) are
prepared:
„ .
.
_
1. To obtain Registration of American Railway
Shares in the name of the Association, lodge them
with the London & Westminster Bank, and issue
against the deposited Shares the Certificates of the
Association, countersigned by the Bank. The certi
ficates have coupons for dividends attached, and
upon presentation of the advertised coupon at the
office of the Association the dividends may be ob
tained the same day they are payable in the U. S.
2. Or they will obtain Reg s'ration o f Shares in
the name ,of the Association, deliver up the Shares
duly endorsed to the owner, and pay the dividends
at the office of the Association in London the same
day they are payable in the United States.
3. Or they will obtain R gistration of Shares in
the owner’s name, and collect the dividends by
power of attorney.
Under plan No. 1 British holders of American
shares are enabled when necessary to take Immedi
ate combined action in voting, the power being used
by the Association.on instructions from holders of
certificates representing shares in any particular
railway. This plan also affords absolute security to
lenders o f money on American shares,-as Associ
ation certificates are only issued upon newly-verified
share certificates.
The original American shares can always be reexchanged atshort notice, free of expense, on pre
sentation o f the Association’s Certificates at the
office.
The charge for registration and for the Associ
ation’s Certificates is 3d. per share.
SAMUEL POPE,<J. C., Chairman.
JOSEPH PRICE, Managing Director.
F. P. BAXTER, Secretary.
Nos. 5 and 0 Great Winchester St., London, E. C.
The Association acts as Transfer Agents in Lon
don for American Railway Companies, in conjunc
tion with the London agents of the Mercantile
Trust Company of New York as Registrars.
Agents in the United States,
POOR & GREENOUGH, 36 Wall St.
Blake, Boissevain &; Co,,
LONDON, E N G LA N D .
a n k
or
B b it is h N
Cable Address—P a VY, L ondon .
A
m e r ic a ,
STREET,
Buy and sell Sterling Exchange and Cable Trans
fers. Issue demand drafts on Scotland and Ireland,
Uo on Canada. British Columbia and San Francisco.
R C IR C U L A R NOTES issuediin Pounds Sterling
available in all parts o f the world. COMMER
C I A L CR ED ITS ISSUED for use in Europe,
Japan, East Mid West Indies and the Brazils,
River Plate, Ac.
. ,,
. .
.
Riii a collected and other banking business trans
acted.
D. A. MoTAVISH,«) A _antg
H. STIKEMAN. » 140
N e g o tia te Railway, State and City loa,ns.
E x ecu te orders for Bonds, Shares, etc., on Com
mission, and transact a general Banking and
Commission Business.
S p e cia l a tte n tion given to the execution of
orders for Securities on the New Fork, Lon
don and Amsterdam Exchanges, in corres
pondence with
BLAKE
18
28
BROTHERS
W a ll
S ta te
S tre e t,
S tre e t,
N ew
Sc CO.,
OF
Railroad Securities.
J A N U A R Y , 1§88.
CONTENTS.
Railroad Securities.—
A D escription of th e Stocks an d B o n ds ,,
an d a Statement of th e I ncome forfour years past, as well as the an nual
charges against income, of all Railroads*
whose securities are commonly sold in the
markets of New York, Boston, Philadelphiaand Baltimore.
Highest and Lowest Prices, Monthly.—
U n ited States Se c u r it ie s —F or the years-
1886 and 1887.
R a il r o a d B onds and Stocks in N e w Y o r k
—For the years 1886 and 1887.
R ailro ad B onds and Stocks in B oston —
For the years 1886 and 1887.
R a il r o a d and Ca n al B onds and Stocks iw
P h ila d e l p h ia —F or the years la&6 and.
1887.
R ailro ad B onds and Stocks in B a l t im o r e
—For the years 1886 and 1887.
Ten Year Bange o f Prices—
Y e a r l y R ange of A ctive Stocks —D ate o f
highest and low est prices made in the y e a r s
1878 to 1887, inclusive.
Dividends.—
D ividends on R ailroad Stocks sold ah
the ‘ Exchanges in New York, Boston,.
Philadelphia and Baltimore, paid during
each of the seven years, 1881 to 1887»
elusive.
Y ork,
B oston ,
M ass,
A D O L P H B O ISSE V A IN Sc CO.
F O R E IG N .
H A N D -B O O K
Railroad Earnings.—
G ross and N et E arnings so fa r as re p orted
in 1887. in com parison w ith the corres
ponding periods o f 1886.
A m s t e r d a m , H o l l a n d . __________
THE
AnglG-Califoniiaii Bank
Heinemann & Co.,
(LIMITED).
62 Gresham House, E. C.,
L O N D O N , Head Office, 3 Angel Court.
8 A N F R A N C I S C O Office, 422 California 8t
N E W F O R K Correspondents,
n
J. & W. Seligman & Co
Price in Red Leather Covers, ■ • $1 OD
To Subscribers o f the .Chronicle,
?$•
W IL L IA M
EOKDOJI.
R . DANA &
C O .,
102 WILLIAM STREET, NEW YORK.
B O S T O N Correspond’!», Massachusetts N .Bfr,
S o lic it accounts and agencies of Banks, Railways
Corporations, Firms and Individuals upon
favorable terms; also orders for the pur
- 1 ,5 0 0 ,0 0 0
chase and. sale of Bonds, Shares, &c., &c. on
- - 4 0 0 ,0 0 0
the Stock^Exchange.
Transact a general banking business. Issue Coro In te re st allowed on Deposits, subject to 60-days
m e r e i a i Credits and Bills of Exchange,available in all
sight draft,c, ah Bank of EnglaM rate, and
parts o f the world. Collections and orders for Bond s,
Stocks, etc., executed upon the most favorable terms.
one per cent ¡below that rate gubjeot to
FRE7VK F. LOW,
l Manners
demand drafts.
IGNATZSTEINHABT, J Managers<
N eg otia te Railway! State and £ity Loaafii
p . N. LILKNTBAL, Cashier,
A u t h o r iz e d C a p it a l, P a id - u p C a p it a l, « R eserve fu n d , ■ ” "
- $6 , 0 0 0 ,0 0 0
JOSEPHQILLQTTS
S T E E L -P E N S
'
GOLD MEDAL PARIS EXPOSITION-1 8 7 0 .
j THEiMQST PERFECT OF PENS
«J a
n u a r y
THE CHRONICLE. 1
7, 1838.J
% u sx c x n n tt.
l&iacjellix n to n s .
g g H s c e X lx u t J o m s .
THE
F ID E L IT Y A
C A SU A L T Y CO
OF NE SV YORK.
OFFICE OF THE
A T L A N T I C
Mutual Insurance Co.
NEW YORK, January 24,1887.
The Trustees, In conformity to the Charter o.
t h e Company, submit the following Statement
«of its affairs on the 31st December. 1886:
’Premiums on Marine Risks free.
1st January, 1886, to 31st
December, 1886..................
$3,809,2.? C 53
Premiums on Policies not marVefi
o ff 1st January, 1886-—
1,426,049 46
Total Marine Premium... . . . $5,235,299 99
^Premiums marked off from 1 st
January, 1886, to 31st Decem
ber, 1886....................................$3,8"i 7,699 86
lo s s e s paid during the same
period............... .... .................. $2,20( 588 68
(Returns of Premiums and Ex
penses............................... .
$841,378 15
The Company has the following Assets« via.:
’United States and State of New
York Stook, City, Rank and
other Stooks.. . . . . . . . . . . . . . . . . . . $9,382,3
Loans secured by Stooks and
707,100
otherwise................
S eal Estate and Claims due the
Company, estimated at____. . .
501,647 31
Premium Notes and Bills Re
ceivable...................................... 1,568,134 20
O ash in Bank.............................
285,254 68
New York, Boston, Philadelphia,
CAPITAL, $250,000.
ASSETS, about $050,000
Issues SURETY BONDS, guaranteeing the fidelity
o f persons in positions of trust, such as employees o f
Railroads, Banks, etc., also Administrators, Guar
dians, etc.
Issues ACCIDENT POLICIES, containing all
modern features.
Also PLATE GLASS and BOILER POLICIES of
approved forms.
Agents will appreciate the advantage of dealing
with a company which does more than one line oj’
business.
„
OFFICERS.
WM.M.RrCHARDS,Prest. GEO.F.SEWARD.Y.-Prest.
J oln M. Crane , Sec.
R obt.J. H ii ,las , Ass. Sec,
DIRECTORS.
Geo. S. Coe,
A. B. Hull,
A. S. Barnes,
J. S.T.Stranahan, H A. Hurlbut, J.G.McCullough,
A. E. Orr,
J. D.Vermilye, T. S. Moore,
G. G. Williams, John L. Biker, J. Rogers Maxwell,
Wm. M. Richards,
Geo. F. Seward.;
SELLING AGENTS FOB LEADING BRAND8
B o n d s o f S u r e ty s h ip
NO
The
OTHER
B U S IN E S S .
G u a r a n te e
Co
OF NORTH AMERICA.
Ciih Capital.....................................................$300,000
Assets and Resources over............................ 900,000
Deposit with Insurance Department............. 240,000
President;
Vice-President:
aiK a l s x . T . G a l t ,
H o n . j a s . F e r r ie h .
Managing Director: E d w a r d R a w l i n g s .
T R I ) S T E E.S t
J. D. Jones,
'W .H . H. Moore,
A . A. Raven,
«James Low,
Wm. Sturgis,
Benjamin H. Field,
•Josiah O. Low,
Edmund W. Corlies,
Robert B. Minturn,
'William Degroot,
Horace Gray,
William E. Dodge,
William H. Macy,
A. Hand,
Joh n D. Hewlett,
William H. Webb,
Charles P. Burdett,
H enry W. Hawley,
Adolph Lemoyne,
William i f . Morgan,
Charles H. Marshall,
Frederick H. Cossitt,
William Bryce,
John Elliott,
James G. De Forest,
Charles D. Leverii b,
John L. Rlker,
N. Denton Smith,
George Bliss,
Isaac B ell,
Edward' Floyd-Jo
Anson 17. Hard,
Thomaf Maitland,
John E Igar Johnson,
Ira Bursley,
James A. Hewlett,
George H. Macy,
JOHN D. JONES, President
W. H. H. MOORE, Vice-President,
A. A. RAVEN, 2d Vice-President.
BROW N
& B L E A C H E D S K IR T IN G S
A N D S H E E T IN G S ,
W
PRINTS, DENIMS, TICKS, DUCKS, 6 «
T o w e ls ,Q u ilt s , W h it e G o o d s & H o s ie r y
D rills, Sheetings, Ac, fo r E xp ort T rade.
Brinckerhoff, Turner
& Co.,
Manufacturer* and Dealer« la
CO TTO N SAILDUCK
And all kinds of
OOTTON CANVAS, FELTING DUCK, n a^
COVERING, BAGGING. RAVENS DUCK,SAIL
TWINES, &C„ “ ONTARIO” SEAMLESS
BAGS, “ AWNING 8TB4PB8.
Also, Agents
U N IT E R
S T A T E S B U N T IN G C O .
full supply, all Widths and Colors, always In stook
N o . 1 0 9 D u n s S tr e e t.
NEW YORK OFFICE:
NO. I l l
BRO AD W AY.
D. J. TOMPKINS, Secretary.
N ew Y ork Directors —Joseoh W. Drexel, F. p ,
Dicott, Logan C. Murray, J.E. Pulsford, John Paton,
E. F. Winslow, Erasius Wiman, W. Butler Duncan
JO H N
H,
C L IS B Y A
CO,
M ONTGOM ERY,
Crenshaw & Wisner,
16 &
18 E x c h a n g e P la c e , N e w Y o r k ,
COMMISSION M E R C H A N T S,
Members of the Cotton, Coffee and Produoe Exch’s
AGENCY OF
THE HAX ALL CRENSHAW CO.,
COTTON BUYERS,
R IC H M O N D ,
ALA,
P u r c h a s e o v l t o n O r d e r s f o r a Co m k t e s t o n
VA.
Standard Brands of Flour for Shipment to Warm
Climates always on hand.
ORIENT GHJANO MANUFACT’G C 0„
SECURE B A N K VAULTS
O R IE N T ,
Li. I .
Standard Superphosphates.
SULPHUR MINES COMPANY
OF
V IR G IN IA .
High Grade Pyrites free from Arsenie.
J oh n L . Bu l l a r d .
SIX PER CENT INTEREST on the outsr.and- WELDED CHB0ME STEEL AND IRON
■4ng certificates of profits will be paid
he
in Round and Flat Bars, and 5 ply Plates and Angle
fodders thereof, or their legal representatives,
FOR SAFES, VAULTS, &o.
-on and after Tuesday, the 1st of February next
THE OUTSTANDING CERTIFICATES Of Cannot be Sawed, Cut or Drilled, and positively
Burglar-Proof.
the issue of 1882 will be redeemed and paid to
CHROM E STEEL W O R K S ,
the holders thereof, or their legal representa
tives, on and after Tuesday, the 1st of February Circulars Free.
B R O O K L Y N . N, V.
next, from which date all interest thereon wil
cease. The certificates to be produced at the
ESTABLISHED 1855.
time of payment and canceled.
A DIVIDEND OF FORTY PER CENT Is
E u gen e R . C ole,
"declared on the net earned premiums of the
S T A T IO N E R A N D P R IN T E R ,
"Company, for the year ending 31st December,
Supplies Banks, Bankers, Stook Brokers and Corpo
3.886, for which certificates will be issued ob rations
with complete outfits of Account Books and
Stationery
»•nd after Tuesday, the 3d of May next.
B T New concerns organising will have their orders
By order of the Board,
promptly executed.
icretar” «
Bliss, Fabyan & C o.,
N os. 21 4 & 2 1 6 B R O A D W A Y .
Amount................................$12,444,511 69
J . 11. CHAPMAN,
IX
No. 1 W IL L IA M
Hen ry h . W b iil s b .
BAG G IN G .
W A R R E N , JONES A
ST.
L O U IS ,
M a n u fa c tu r e r a
ol
Pure
G R A T I,
M o.
J u t e ’ B a g g in g .
IMPORTERS OF
IR O N
CO TTO N
T IE S .
Bullard & Wheeler,
COTTON COMMISSION MERCHANTS
NEW YORK.
ALSO
B A G G IN G
AND
IR O N
T IE S ,
(FOR BALING COTTON).
Advances made on Cotton Consignments and Special
CONTRACTS ^F*y?)TTON*
° f FU1UilJfi
STREET,
iHANOVER SQUARE.)
Geo, Copeland & Co.,
ü ie a r a s M p s .
COTTON BROKERS,
134 P E A R L
ONLY
STREET, NEW Y O R K .
Direct Line to France. Dennis Perkins & Co.,
COTTON BROKERS,
GENERAL TRANSATLANTIC CO.
B e tw e e n N E W
YO RK
and
H A V R E
From Pier (new) 43, North River, foot of Morton St.,
LA BRETAGNE, de Jousselin......Sat.. Jan. 7. noon*
f A NORMANDIE, de Kersablec, Sat., Jan.I4, {6A.M.
LA GASCOGNE, Santelli.......... Sat..Jan. 21, 11 A M.
Travelers by this line avoid both transit by English
railway and the discomforts of crossing the Ohanne
In a small boat.
Prick o f P assage (including wine):—To H avreFirst cabin, $100 and $80; second cabin, $60: steerage, $23—including wine, bedding and utensils. Re
turn tickets at much reduced rates. Checks onBanaue
Transail antique, Havre and Paris,in amount to suit.
S p e c ia l T r a i n
fro m
H avre
to
P a r le
The Compagnie Generate T ra n sa tla n tic delivers
at its office in New York special train tickets from
Havre to Paris. Baggage checked through to Pari*
without examination at Havre« provided passengers
nave the same delivered at the Company’s doex in
New York, Pier 42 North River, foot of Morton St.
it least two hou/s.before the departure^! a.steamer
L O U IS D R B E H IA N , A g e n t,
N o , $ B o s r lin g G r e s it.
1 2 5 P e a r l S tre e t, N e w Y o r k .
Orders for Spot Cotton and Futures promptly
executed.
COLORADO CENTRAL
Consolidated
Mining
Co.,
48 E X C H A N G E P L A C E .
Pa u l L ic h t e n s t e in ,
h
. R. Baltzer,
_ _ ...
President, __
Vice-President.
R. Y. Mart in sen ,
w . E. Ma n tiu s ,
Treasurer.
Secretary.
Q.
W. Hall , Sup*.
THE CHRONICLE.
X
(J a n u a r y
I P is ts lIa tie o tx s ,
CÎ 0 Î Î 0 U .
_________(gffttffB.__________
W alter T. H atch.
N a th ’l W. T. H atch.
Woodward & Stillman,
NEW
INM AN, SWANN& Co
YO RK .
COTTON
Personal attention given at the EXCHANGES to
the purchase and sale of STOCKS and BONDS for
cash or on margin.
,,
DEPOSITS RECEIVED—subject to oheok at sight
—with interest upon balances.
_____
Special attention paid to INVESTMENTS and
accounts of COUNTRY BANKBR8._____________ _
MERCHANTS,
S p e c i a l A t t e n t i o n t o o r d e r s f o r Co n t r a c t s
F u t u r e D e l i v e r y o p Co t t o n .
N ow Y o r k ,
COTTON. ALL GRADES, SUITABLE TO WANTS
The Safe Deposit Co.
OF SPINNERS,
O f f e r e d o n T e r m s t o Su i t .
OF M EW Y O R K
Williams, Black & Co., Hubbard, Price & Co.,
W IL L IA M
Price, Reid & Co.,
NEW YORK.
UNEQUALLD
HAVE ADDED LARGE AND IMPROVED SAFES
SUITABLE FOR BANKERS AND BROKERS.
N ORFOLK, VA.
Cotton Brokers & Commission Merchants
140, 142 & 146 BROADWAY
Liberal advances made on Cotton consignments.
Special attention given to the sale of cotton to ar
or In transit for both foreign and domestic mar
STOCKS, P E T R O L E U M , rive
kets. Orders for Future Contracts executed In New
ORDERS EXECUTED IN
NEW YORK, CHICAGO, NEW OR
LEANS, ST. LOUIS, LIVERPOOL,
____________ HAVRE, &c.____________
L e h m a n , s t e r n & C o., • L e h m a n , D u r r & C o.,
New Orleans, La.
Montgomery, Ala.
LEHMAN BROS.,
C otton
F actors
AND
C O M M IS S IO N
York and Liverpool._______ _______________ _
Cotton Commission Merchants,
NO. 116 CHESTNUT STREET,
P H IL A D E L P H IA .
NO. 42 MAIN STREET,
N O RFO LK , V A .
U p -t o w n Office . N o. 204 Ch u r c h St r e e t ,
S
Henry Hentz 5c Co.,
COMMISSION MERCHANTS,
8 Sou tU W il lia m S t., N e w Y o r k .
C O F F E R
/B R E G A
&
OF PHILADEPHIA.
F IR E
COMMISSION MERCHANTS,
COTTON EXCHANGE, NEW Y O R K , and
NO RFO LK , VA.
COTTON, G RAIN . PROVISIONS,
Stocks and Petroleum .
Orders executed in New York, Chicago and Liv
erpool. All grades of cotton suitable to spinners’
wants offered on favorable terms.
COMMISSION
MERCHANTS,
Messrs.
Liverpool. .
„
_ ,
Jas. Lea McLean, New Orleans.
G.
iton Brokers,
Successors to W ARE
&
NEW
visions in New York and Chicago.
COMMISSION MERCHANTS,
W a ter
S tre e t,
COTTON
EXCHANGE
B U IL D IN G ,
Geo. W. Baily & Co.,
O ffic e ,
75
R eaver
S tre e t,
6c Mercantile Ins. Co.
U. S. Branch Statement Jan. 1, 1887»
Invested and Cash Fire Assets...............$3,378,754 40
LIABILITIES:
Reserve for Unearned Premiums....
$1,217,584 80
Reserve for Unpaid Losses...............
148.062 96
$3,378,754 4o"
Losses paid in U. S. in 20 years . .8 1 7 ,1 6 4 ,6 8 » 7 7
U. 8. B ranch Off ic e , 54 W il lia m St ., N. Y .
SAM. P. BLAGDEN, Manager.
JAS. F. D u d l e y , Assistant Manager,
W. A. PHAN CIS, 2d Assistant Manager.
New York,
Special attention Given to the E xecution
OF ORDERS FOB FUTURE CONTRACTS.
Phenix Insurance Co.
OF
BROOKLYN,
Office, 195 Broadway, New York City.
Statem ent o f C o m p a n y
Robert Tannahill 6c C o.,
L IV E R P O O L ,
Receive consignment* of Cotton and other Produce,
and execute orders at the Exchanges in Liverpool.
Represented in New York at the office of
SAM’L D. BABCOCK
32 Nassau Street, New York.
Y ork
J . R A Y M O N D S M IT H , A g en t.
Net Surplus................................ 2 ,0 1 3 ,1 0 6 5 8
YO R K .
B. F. BABCOCK & CO.
I f
Orders for future delivery of Cotton exeou^ in
New York and Liverpool; also for Grai and fru
SCHROEDER,
Orders for future delivery of Cotton exeouted in
New York and Liverpool ; also for Grain and Pro
visions in New York and Chicago.
N ew
LONDON AND E D IN B U R G H .
Schroeder 6c C o .,( Mohr, Hanemann6c Co.,
C O M M ISSIO N M E R C H A N T S ,
Cotton Exchange Building,
M A R IN E .
OF
No. 123 PEARL ST., NEW YORK
G R A IN AND PR OVISIO N S
Co r r e s p o n d e n t s
Smith, Edwards & Co.,
AND
CAPITAL STOCK................................ 1360,000 00
Outstanding Scrip................................. 716,960 0©
Reserve to reinsure Outstanding Risks
262,643 20
and ail other Liabilities.....................
Surplus over Capital and Scrip.............. 879,606 09
$1,719,209 20
TOTAL ASSETS.
North British
Gwathmey 6c Bloss,
at the NEW YORK COFFEE EXCHANGE, and
at the NEW YORK PRODUCE EXCHANGE and
the CHICAGO BOARD OF TRADE.
Delaware Mutual
Safety Insurance Co.
CO.
Rountree & Co.,
C O T T O N
N ew Y o r k .
(INCORPORATED 1836.)
L i v e r p o o l Co r r e s p o n d e n t s ,
P R E D E B IC
EXECUTE ORDERS FOR FUTURE.DELIVERY
St the NEW YORK, LIVERPOOL AND NEW OR
LEANS COTTON EXCHANGES. Also orders for
MERCHANTS,
P H IL A D E L P H IA .
M E M B E R S O F T H E O O IT Q N , 0 O F F E E A N D
PRODUCE EXCHANGES.
N ew Y o r k .
Orders executed at the Cotton Exchanges In New
York and Liverpool, and advances made on Cotton
and other produce consigned to us, or to our corresondents in Liverpool: Messrs. L. Rosenheim &
ons and A. Stern A Co.; in London, Messrs. B.
Newgass & Co.
M a n h a tta n B u ild in g ,
O R D E R S SOLICITED.
COTTON
M ERCH AN TS,
Bethlehem Iron Comp’y
40 and 42 Wall Street,
Geo. H .McF adden& Bro.
No. 40 EXCHANGE PLACE,
FRANCIS M. JENCKS.
President9
George H. V08e, Secretary.
Edward H. Coates & Co.,
S P IN N E R S
S E C U R IT Y .
THE OFFICES HAVE BEEN NEWLY
FURNISHED WITH EVERY IMPROVEMENT.
AND
S T R E E T ,)
C O T TO N , G R A IN ,
PR OVISIO N S, CO F FE E ,
OFFERS
117 P earl St., N ew Y o rk ,
BANKERS AND COMMISSION MERCHANTS,
1
BANKERS,
14 NASSAU STREET, NEW YORK.
R a i u r n n m n ™ i 1 3 * C h u r c h S t r e e t , N . Y .BRANCH o f f ic e s j g j j g C h a p e l S t ., N e w H a v e n
LOANS MADE ON ACCEPTABLE SECURITIES.
for
H e n r y P . H a tch .
A rth u r M . H a tch .
W. T. Hatch 6c Sons,
MERCHANTS,
Post Building, 16 & 18 Exchange Place,
7,1888.
Cotton Commission Merchants,
1*1 D a y o f
J a n .,
1837.
CASH C A P IT A L ..............
$¿,000.000
Reserve for unearned premiums......... 8,466,888
Reserve for unpaid losses .............
359,197
Net surplus............................................
567,088
Cash assets......................
$6,383,171 68
STEPHEN CROWELL, President.
C o tto n E x c h a n g e B u ild in g , N e w Y o rk .
Special attention given to the purchase and sale of
FUTURE CONTRACTS
in New York and Liverpool.
WM, R. CROWELL, Vice-President.
PHILANDER SHAW. Secretary.
GEO. H. FISKE, Assistant Secretary.
FRANCIS P. BURKE, Seo’y Local Dept
C o m m e r c ia l
U n io n
¡COMMISSION MERCHANTS,
C O TTO N E X C H A N G E B U IL D IN G ,
N ew Y ork .
Special attention to orders for contracts for future
delivery of cotton.
W
6c
a l t e r
COTTON
<8 B E A T E R
F
a t m a n
,
BROKERS,
STREET, NEW
YO RK .
A s s u r a n c e C o ., l im it e d ,
OF LONDON.
Office, Oar. Pine & William &»., JR R
@FedFRASER