Full text of Commercial and Financial Chronicle : July 14, 1877, Vol. 25, No. 629 [Copy 1]

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WILL OUR REMONETIZATION OF SILVER RESTORE ITS VALUE ?
In the late letter of Mr. David A.
“
“

“

UNITED

Wells to Mr.

STATES.

NO. 629and Mr.

this is the vital

point in this discussion. If we
could agree with these writers we should lose very much
of our interest in the subject.
In fact, the country pro¬
duces silver in very large amounts, and we have it to
sell, and if by so simple an act we can enhance and make
permanent its value in the markets of the world, why
should we not do it.
The public credit would not suffer,
because with the gold dollar and the silver dollar of
equal value, no one would prefer to pay or to receive
payment of government bonds, or any debt, in one cur¬
rency rather than the other; nor would there be any
such weight of silver metal to be carried around as Mr.
Wells fears in case of a tender requiring specie, for,
being of like value, gold, the more convenient metal,
would be used. In a word, this fact admitted and all
the fears of the conservative classes are at once dispelled,
for, even the breath of repudiation is removed and the
cry of “ soft money” or “ depreciated currency” becomes
meaningless.
It would, therefore, be a great relief if we could rest
with entire confidence in the opinions which we have
quoted above. But just here the thought will force
us

itself that

even a

well-founded doubt of the soundness

of the conclusion is sufficient to

compel its relinquish¬
is, we must feel, with Mr. Wells and Mr^
Halstead, that the result would “ undoubtedly ” or
instantly” come, or else do we not let the country run
a
risk which no conservative man can contemplate
quietly ? For only admit the possibility of silver, after
its remonetization in this country, not assuming, in the
other markets of the world, the relative value we give
it, and it involves the possibility of our being the high¬
est bidder in the world, not only for the new production,
ment.

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Halstead,

THE

“

Railroad Earnings in

25

Monev Market, U. S. Securities,

WILLIAM B.

OF

says
undoubtedly” such would be the result,
Halstead says it would result “ instantly.”

.

CHRONICLE.

Will Our Remonetization of Sil¬
ver Restore its Value?
Mercantile Failures and Their

The Commercial

INTERESTS

SATURDAY, JULY 14, 1877.
c o N T E N T S

Commercial
Cotton

AND

That

“

the Silver question, he states that the but also for the old stocks of this metal:—and would
remonetization of silver by the United States, will not that involve the depletion of our stocks of
gold
undoubtedly bring silver to par with gold in the open and the gorging of our silver reservoirs and all the
on

markets of the world.”

same

view.

he calls

Mr. Halstead also takes the

His idea is that the “

gold yard stick,”

as

it, “ is too long” now, and the “ silver yard stick’’
is “too short;” put them together, “the gold will contract and the silver will expand,” and thus we shall
have “ the old measure, the fair measure to a hair’s
“breadth;” for, “the remonetization of silver would
instantly restore that metal, at the old ratio, to an
equality with gold.” Mr. Wells, as is known, advo¬
cates a single
gold basis, and Mr. Halstead a bi-metallic
basis, and yet on the point stated they agree. It will
be noticed also, that this agreement has no doubtful
element in it, but is of a positive description.
Mr. Wells
“

“

“




accompanying and accruing evils which it is unnecessary
to enumerate ?
What we say then is, that the
country cannot enter upon a policy which involves the
possibility of any such results. Silver is now at a very
considerable discount. It becomes the duty, therefore,
of the advocates of this view to make it clear, beyond
suspicion, that the United States demand is sufficient of
itself to wholly and “ undoubtedly” bridge the chasm.
To us, in consideration of the great interests at stake—
even
if we shared, on the point in question, the
confidence expressed in the quotations above — it
here

would
tion

seem

and

at least to

strive

be wiser to defer this remonetiza¬

first to

obtain

the consent of other

THE CHRONICLE.

26
countries to share the risk with

us.

Suppose

we

could

upon the Latin Union to agree to re-commence
the free coinage of silver at the old ratio of value

prevail

[v0l xxv

lost her power to
debt to England,
there

can

be

no

absorb silver, because with her large
the balance of trade is against her, and

relief to this condition for

some

time.

recoining it at the same value, Most assuredly out of these facts we can draw no other
would not that in any event be desirable as a prelim¬ presumption than that our demand for coinage will be
inary step to our action? Of course if it is so certain, as clearly insufficient to restore the old price to silver.
]5ut there is another very unsatisfactory aspect of this
is claimed, that our demand is to restore the old price, the
nations composing the Latin Union would not hesitate question which we must briefly refer to before leaving
the subject, and that is the growing solicitude among
to make the agreement.
Looking, however, a little closer into the question of the European nations in consequence of these conditions and
effect of our remonetizing silver, we are unable to see of the lass of confidence, by them all, in silver as the cur¬
even a presumption that the old value would thus be re¬
rency of the future.
The evidence on this point is
stored. The present depreciation is the result of two dif¬ accumulating of late very rapidly. We should naturally
ferent classes of causes:—one growing out of the in¬ expect such a result.
Take France for instance, so
creased supply and restricted demand, and the other aris¬ intimately connected with all her neighbors:—what a
ing from a loss of confidence among the nations of Europe serious disturbance, the fluctuations of the past few
in the permanancy of a bi-metallic basis. We think a years must have caused in her trade relations with other
few moments’ reflection will make it clear that both these countries.
Disgust with a currency capable of such
elements enter into the late decline.
To meet and variations in value, is rapidly developing and a com¬
counteract the first cause it is claimed that our demand mon
disposition growing stronger, day by day, to pre¬
will suffice. The idea is that we shall need $300,000,000 pare for the inevitable change.
The evidences of
of silver as a basis for.our currency, and that this require¬ this fear and preparation, which have long shown
ment will absorb the European and American surplus. themselves in
words, are more recently beginning
In this connection, however, we must not forget to be indicated by acts.
The excellent Paris corre¬
that coinage in this country would, of necessity,
spondent of the London Economist, under date of
proceed gradually, and that the extreme of our May 31, states, that the present proportion of silver to
wants in any one year could not certainly
exceed gold in the cash reserve of the Bank of France is gene¬
$100,000,000, and wTould most likely fall short of that rally accepted, in well-informed quarters, as from 20 to
amount. We are now producing probably about $40,000,- 25
per cent, probably midway between both extremes.
000 per year, against $38,500,000 for the twelve months This, he adds, is “ much smaller than formerly, before
silver was depreciated, when it formed 33 1-3 per cent
ending June 30, 1876. During the past three years end¬
of the total stock of specie.”
ing June 30, 1877, the total silver product of the United
Another correspondent,
States has been about $115,000,000; during the same time writing from Vienna, under date of June 5, says that
we have exported of silver in excess of our silver imports
the return of the Amsterdam National Bank for May
less than $30,000,000; consequently, during that time, 31, 1877, gives the stock of coin and bullion at 136,we have increased our surpluS*stock of silver $85,000,000.
616,568 florins, of which 66,792,894 were gold and 69,Hence, without going back of June, 1874, we find, after 823,765 florins silver. On the 30th May, 1870, the total
deducting the amount which has gone into our subsi¬ stock held was 112,990,844 florins, of which only 234,diary currency this year, that with the production of the 922 florins were gold and 112,755,921 florins were silver.
next twelve months, there would be a sufficient supply in Had we before us the comparative figures of other
the United States to satisfy very nearly, if not quite, national banking institutions of the Continent, they
the first year’s demand for making silver dollars, and would undoubtedly one and all show the same fact dis¬
still leave for export the average export for those years. closed above, that silver is being discarded by them just
This result does not appear to us to lend much encour
as
rapidly as the circumstances will permit. These facts
agement to the idea that the remonetization of silver in are simple but forcible illustrations and indications of
this country would “ instantly” cause a recovery of the the severity of the shock silver has received. As we
old price in the markets of the wTorld.
But this is by no stated a few weeks since, confidence in that metal has
means the least promising phase of the question.
Ac¬ been weakened to an extent we scarcely appreciate, and
cording to Ernest Seyd, Germany when she began her the entire European world is to-day solicitous for and
gold coinage had (besides her subsidiary coinage) sixty actually tending toward a gold basis.
million pounds, (or say three hundred million dollars)
Now, under all these circumstances, what is the course
simultaneously with

our

“

“

of silver coin and bullion.

Some German writers make

which will best

serve

the interests of the United States?

will Clearly, if the facts we have stated are correct, there is
not stop to state, the general opinion appears to accept far too much idle silver in the United States and Europe,
Mr. Seyd’s estimate. This three hundred million dollars and too limited a demand for the new production of our
is now all of it let loose and awaiting our demand.
We own and other countries, to give us the least encourage¬
do not mean that Germany has sold it all as 3ret, for she ment that our re-coinage of that metal would establish
has fixed a limit in the price at which she sells; but she it? old relative value. Just what effect our act would have
is ready to give it up at any moment when the market on prices it is not necessary for the purposes of this
will receive it without too much loss. There is also a article to say; for our readers will readily see that if we
production of silver in progress, each year, in various should fail even by a fraction of putting up the markets
countries, in addition to that of the United States, of of the'world to the price we fix here, of course our
about fifty million dollars.
Heretofore this has been higher price would turn the entire surplus in this direc¬
absorbed very largely by Europe; but now, since the tion. Thus, also, we should give France and the other
stoppage of the coinage of the Latin Union, there has Continental nations the very opportunity they need—a
been no European coinage demand, and, consequently, market in which to dispose of their silver when dis¬
this increased supply has to that extent been an accumu¬ carded, and so lifting themselves, at our expense, upon
lating surplus, and so exists to-day. India also, another a gol-l basis. In Europe, outside of Germany, the best
buyer of the world’s annual production, has of late yeais estimates give the silver in use other than for subthe amount




a

little less, but for reasons which we

July

THE CHRONICLE

14,1877. j

27

sidiary coinage at about 700 million dollars. Hence we
might have to deal with not only the surplus in this
country, and the 300 millions Germany has discarded
and the surplus production of other countries, but so

conspicuous illustrations of the financial strength ©f the
country, that this vast loss of active capital should have
been sustained with so little of
public revulsion and
private suffering. How much further the shrinkage is
much of this vast stock as should be let loose from its likely to extend its ravages, it
is impossible to foresee.
The
circular
Can we then hesitate a moment in
before us is not quite so sanguine in its
currency purposes.
of
forecast
the
saying that if we propose to recoin silver, the true
early future, as have been some of those
interests of this country demand that we should first win which have preceded it.
It says:
“For years of over production,
back these nations to the same policy and take no step
over-trading, and over-crowd¬
ing all the avenues of commerce, there must succeed years of
except in conjunction with them.
On a previous occa¬ economy, of liquidation and adjustment to a smaller condition of
sion we have stated our reasons for believing that things, such as is now being experienced.
The mistake since the panic of 1873 has been that
the mag¬
should we firmly take that stand, Europe will finally be nitude of the
expansion, not only in this country, but the world

1875.•43,609

m1wKas

*

compelled out of self-interest to side with us. We can¬ over, has rarely been sufficiently appreciated; hence, the false
hope has been entertained of an early return to prosperity. The
not, however, at this time dwell longer upon the subject. figures which illustrate moat vividly the Dature
and extent of
To us the peril appears very great and our duty very this expansion are those that relate to that most delusive yet
most latal
of all experiences—the Creation of Debt.
which this debt involves, even when it is

clear.

MEFCANTILE FAILURES AND THEIR LESSONS.

Some of the aspects

of financial recuperation are
brought prominently before us in the report of mer¬
cantile failures, just issued, for the last three months.
The compilers, Messrs. Dun, Barlow & Co., state that

the

list of

names

from

which these insolvencies

are

The

charges

possible to pay all tha
interest, is an incubus that sorely taxes the industries and trade
of the country; but when a
large portion of the money invested
is unproductive and
yields no return, with no prospect of its re¬
payment, it is a barrier which effectually retards the return of
confidence and leads to endless complications. The
figures moat
accessible show that the national debt, as
compared with 64 mil¬
lions in 1860, amounts to 2,200 millions in
1877; that the States*
debt amounts to 375
millions, the municipal debt to 1,000 mil¬
lions, the railway debt 2,300 millions, the discounts and loans of
national and other banks to another 1,000
millions, and the loans
by insurance and other mortgage machinery may be safely esti¬
mated at another 500 millions.
Grouping all these roughly to¬
gether, the visible indebtedness, of which some financial concep¬
tion may be formed, amounts to the vast sum of
$7,375,000,000.

reported comprise 701,650 firms and individuals, against
691,154 six months ago. This increase must be remem¬
bered when we come to consider the relative
proportion The curious can calculate how far the interest on this eum, if
of commercial disasters, or our deductions will be defec¬ regularly paid, would absorb the yearly product of the natural
and other resources of the
country.
tive and untrustworthy. Last year, in the United States,
The rapid increase in debt
creating power which the above
figures imply, in some measure indicates the expenditure for
9,092 failures were reported, and 7,740 in 1875. During permanent
purposes in the last fifteen years.
To what extent
the first half of this year there Were 4,749 failures; in that growth of expenditure is in excess of the
growth of pop¬
the first half of 1876, 4,600, and in the first half of 1875, ulation, or the increase in consuming power, finds its fullest
illustration in the number of enterprises now
profitless, and
3,563. It is obvious that although the number of fail¬ especially those devoted to articles at the foundation of human
wants, such as iron, coal, woolen and other textile fabrics,
ures shows an increase,
yet the proportion of the insol¬ lumber,
etc., etc.
In view of the enormous expansion which
vents to the persons in business does not increase in an the above increase of
indebtedness illustrates, is it any wonder
business is depressed and slow of
recovery? Applying
equal ratio ; for, as the failures have increased, so also that
the same

wm s

“

have the numbers increased of the business firms from
whose ranks the insolvencies are reported.
The sub¬

joined table shows the aggregate

amount of the liabilities
reported in the United States

principles to the community as to an individual
business man, the inevitable result of such a
growth of obli
gation, with such an pliability to pay, is that disaster and a
long process of liquidation is sure to follow.”

The

magnitude of the problem which is here sug¬
gested
is certainly too great, and its complex character
since the beginning of 1875, when the
quarterly state¬ too obvious, for
any attempt to solve it to be success¬
ments began to be compiled of these
important statistics: ful at this time. One or two
things, however, may
AGGREGATE OF THE COMMERCIAL FAILURES IN THE UNITED
STATES, 1875-77.
The capital which has been sunk in
.-let Quarter.-^ ^-2d Quarter.—.
3d Quarter.—, ^-4th Quarter.-x safely be affirmed.
Total
Ay’ge Total
Av’ge
Total
Av’ge
Total
jAv’ge various sorts of productive works, which are now
depre¬
liab’ties. liab’s. liab’ties. liab’s. liab’ties. liab’s. liab’ties. llab’s.
ciated from temporary causes, has not been lost, or
$$
$$$$$$
21,784 33,667,813 21,295 54,328,237 80,676 70.838,850 29,475 wholly
destroyed. It has disappeared and is unavail¬
23,018 43.771,273 24.398 47,857,171 19,534 34,844,893 17,064
able,
but in better times it will reappear and be recov¬
19,010 45,066,097 23,972
Total for year 1875
201,060.333 25,960 ered, and it will once more enter as an active element
involved in the failures

Total for year 1876

One of the first deductions from these

into the mercantile activities of the future.
it is a mistake to suppose that the burden of

Moreover,
paying to
mercantile loans,

figures is that
capital engaged in mercantile business in the United the capitalist a fair rate of interest on
States has undergone a notable
shrinkage. Several esti¬ impoverishes mercantile borrowers, and constitutes any
mates of the mercantile capital of this
country have, real incubus or impediment working mischief to trade.
at various times, been made by economists and theoretical
Many persons, looking at the large sums of borrowed
writers. We have applied to several well-informed
par¬ mouey which are reported throughout every prosperous
ties for some authentic data on this subject. But we are
country, as iu the United States, are apt to .forget
assured that the materials for such an estimate are almost
that, for the most part, this debt has its co-relativo
beyond the reach of the statistician, and^ that the ele¬ wealth, and is represented by productive engines which
ments of which the computation would be made
up, are multiply capital and yield the means of paying, not only
so numerous and
uncertain, that the result of the most the interest due to the capitalist, but the wages and the
elaborate inquiries would be impaired by certain factors
profits which have been earned by the other parties who
which would, at the best, be conjectural and uncertain. have used the
capital, and co-operated with its owner in
On carefully examining the reports, it appears that the
carrying on the productive labors of the nation. Still,
ratings of the Mercantile Agency show that we have in there is too much force in the conclusion of the circular
the

/

191,117,786 21,020

the United States 25 per cent

less of active capital before us, that “the inevitable result of such a growth
engaged in mercantile business than at the beginning of of obligation with such an inability to pay is disaster and
the year 1876.
Such an enormous amount of shrinkage a long process of liquidation.” The following table
was
probably never reported before in this country dur- gives a comparative statement of the failures of the last
ng the short space of eighteen months. It is one of the half year with the corresponding period of 1876:




9

THE CHRONICLE.

28

Second quarter Total for first 6 Total for first 6
mos. of 1876.
in 1877.
mos. m 1877.
kjTSSvUu

u

11(1

JL tniLoilLB.

No.

Alabama
Arizona
Arkansas

City of San Francisco

Colorado
Connecticut
Dakota
Delaware
Di>trict of Columbia
Florida
Idaho
Illinois

$526,031

38

$480,929

5

77.425
898.197

15

23

190,649

179

176,325
1,456,756

7,8

5^802,035

21
162
3
8
19
7
56

386,400

97
22

2,930,740

98

1,773,109
20),341
2,272,694

18,500

3
9
12
11

67,000
133,000

113

2,747,591
3,500
3,895,000
5,1)75,900
2,131,421
1,576,480

4.825,816
206,510
1,079,317
2,500

43,000
617,900

2

97,500
219,240
5,000

22

City of Chicago

1

...

Indiana
Iowa
Kansas

92
35
65
50
y

Michigan

55
21
28
35
90
10
66

Minnesota

ay

Mississippi

19

Kentucky
Louisiana
Maine

Maryland

..

Massachusetts

City of Boston

Missouri

City of St. Louis

..

Montana
Nebraska
Nevada.
New Hampshire
New Jersey

16
11
8
47
213

181

City of New York
North Carolina
Ohio... ...

42
76
22
8
134
37
28
11
22

City of Cincinnati

Oregon
Pennsylvania
City of Philadelphia
Rhode Island..!
■South Carolina
Tennessee
Territories
Texas
Utah
Vermont

Virginia & West Virginia
Washington Terrritory
Wisconsin

Wyoming
Total

Dominion of Canada

18
23

•

2,051,800
1,408,300
1,103,270
490,100

62,050
1,630,100
308,518

....

2

244
167
178
222
22

124
31

149,500
733.600

120,500
703,696
29,500
4,113,800

93

156
143

1,151,600
1,828,445

83,300

71
268
41
176
86
58

86,200

|43

1,096,515
599,689
461,842

2,670,250

63

3,491,250

1,101,400

2,535,844
673,955
•

„

m

«...

c

28
40

68,500

35

1,259,828
4,140,878
4,627,288
238,800
1,136,642

87
571
434
65
199
56
18
300
83

772,242
104,304
3,367,191

733,893
1,335,410
132,236
191,350

4^943^328

e

117,400
107,586

54
53
58

206

2,234,885
1,543,400
136,250
3,943,750
434,518
571,000
1,766,502
4,190,128
2,161,200

54

201,300
460,329
220,162
1.950,828

54,777
66.000

1

4,710.600

279,800

a

New York

Amount.

No.

33

ti

:

Amount.

$38,300

1
2

Georgia

No.

10

98
39
ti

California
■

Amount.

29

275,000

131

4,223,700
1,124,793
932,550
1,146,892
7,436,178
7,426,200
4,45?; 844

55

78
76
244

164
252
65
57

364,(85
493,783
794,200

53
41

1,087,233

2
9

8

55,000
57,200
62,700

22

391,500

79
450

905,179

175,904

49
14

6,052,957
2.215,873
2,183,587

236
73
89

924,496
602,450

119

9,292,1381
18,776,660
718,285
2,821,857
1,609,007
154,716
4,997,649
2,691,800
5,097,746
1,258,665
1,670,965

9,845,590
16,545,064
411,9*5
3,130,637
1,813,890

442
94
204

70

25

201,697

77

1,006,620

90

1,018,133

1

4,000

5

1

15
45

168,400
388,843
31,800
368,702

49
88

6,000
699,034

4

30,00)
400,863
821,660
45,800

76

1,143,956

3

30

29
119
3
127
1

2,781,329
162.664
'

1,820,105
37,000

1,850 45.068,097 4,749 99,606,171 4,600 108,415.429
572
7,576,511 650 7,575,326 1,223 15,151,837

have

produced during the present week a renewed dis¬
subject of canal tolls. There certainly
been no time in the history of the Erie canal when

cussion of the
has

the matter of its

success

and its relations to the

com¬

prosperity of the State and city were of such
importance, or seemed so closely dependent upon the
adjustment of tolls, as at present. Yet there are four
classes of persons in the State : First, there are very
many indifferent ones, comprising the population of the
counties not bordering on nor intersected by the canals,
who trouble themselves nothing at all about the subject
so long as they are not called upon for any taxes on
account of the canals; then there are the high-toll men,
who hold that the canals should not only be self-supporting, but should yield also some slight revenue to the
State, and that reducing tolls for the sake of attracting
traffic is a ruinous policy; next we have the low-tollmen,
some of whom would gladly see the canal ultimately
made a free route, but who all agree, at present, that
low tolls are indispensable and are the surest means of
reviving canal business; finally, come those—perhaps
not many in numbers—who look with positive disfavor
rather than indifference at the canal, thinking that the
question of competition with the rail is already closed,
and that the artificial water-way belongs to a bygone
age, and the great ditch of De Witt Clinton might as
well be abandoned to decay as a curiosity of progress.
The case of railroad against canal is a large one, de¬
pending on many things. But at present we have space
only for discussion of, the immediate issue now raised

mercial

*

between the low-toll advocates and their opponents upon
the apparent results already of the large reduction made

that the staple and really only
argument in favor of the reduction was that the increase
of tonnage which would follow would offset or more than
offset the effect of the reduction alone upon the revenue;
that, on the contrary, instead of the predicted increase of
tonnage, there is a further reduction, and, of course, a
heavy decline in receipts; that the low-toll men over¬
looked or chose to ignore the fact—now demonstrated
by the experience of the present season—that the carry¬
ing trade on the canal was suffering from the same
causes which have depressed all business, and not from
the excessiveness of the old rates, so that reduction of
rates would only unfavorably affect the revenues with¬
out proving a remedy for dulness of trade.
Now, as these are questions of fact, let us see what
the facts are, in the first place. It is true, as alleged by
the opponents of low tolls, that there has been a further
decline of traffic, but this statement proves nothing--not

interesting to watch the credit movements in the
great commercial centres of the country as they are
exhibited in this table. For the most part, the liabilities
involved in insolvency in our chief cities show a gratify¬
ing decrease during the last half year. Thus, those of
the city of Boston were but $2,161,200 in 1877, against
$7,426,200 in 1876; those of New York were $16,545,064
in 1877, and $18,776,660 in 1876; those of Philadelphia
were $2,215,873 in
1877, against $2,691,800 in 1876;
those of Chicago were $4,710,600 in 1877, against $5,975,900 in 1876. Although in San Francisco and St.
Louis there has been an increase, as also in soihe of the
States of the interior, the aggregate of liabilities in 1877
was more than 8 per cent less than in 1876.
It is impos¬
sible to over-estimate the advantages conferred upon
our mercantile community by the frequent publication
of the reports of failures throughout the country. These
statistics throw light upon the progress of our industry
and credit, and the condition of business in its various

last

sections.

to

It is

[VOL. XXV.

May.

even

The latter

say

that the reduction of rates has not exerted

increase

traffic,

or, more

an

effect

precisely speaking, to retard

rarely the decline—because it overlooks the fact that traffic has
Hence, it is declined this season by all routes. The receipts of grain

In other countries such statistical information is

published except by Government returns.
much less completely performed and is often delayed at tide-water by the Erie and Champlain canals from
until much of its utility has passed away.
It befits the May 4 to June 30 were 2,004,300 bushels less than in
popular institutions of this country that such a work 1876, the decline of wheat being 4,030,300 bushels; and
should be done, if possible, by private enterprise, and it the canal shipments from Buffalo and Oswego, from the
is peculiarly gratifying to find that the records published opening of navigation to June 30, were 7,824,042 bushels
a decline of
in the United States, compare so favorably with those in 1877, against 9,136,820 in 1876,
which are issued abroad. Of course, there are many 1,312,778 bushels. But this is only a part of the case
defects, which we have heretofore pointed out, in all and not the most significant part. The receipts of grain
such reports! Some of them we are glad to see disap¬ at eight leading points in the West, for the six months
pearing, and further improvements, no doubt, may be ending June 30, were 20,033,226 bushels less than in
1876, of this decrease 11,000,000 bjushels being in wheat;
looked for hereafter.
the wheat crop of 1876 in the United States, again, was
about 40 million bushels less than in 1875, so that there
THE CANALS AND THE LOW-TOLLS QUESTION.
The recently-published canal revenue figures and the was less grain of last year’s crop than usual remaining to
presence of Lieut.-Govemor Dorsheimer in this city be forwarded during the early part of the season. As




Jxjut

THE CHKuNlGLE

14, 1877.]

explaining the decreased tonnage 'we

are,

therefore, to half-year, the railroads have lost

consider these facts: the tonnage eastward has decreased

largely by all routes, having been 13,300,000 bushels
grain for June, against 18,700,000 for June of last year;
as

shown above, the canal

shipments of grain have

decreased, but the remnant of the wheat crop of 1876 is

.

remnant of a crop

itself largely reduced. It i3 there¬
fore, plainly, no argument against low tolls to say that
they have thus far not succeeded in producing an increase
of tonnage during a season when all tonnage has declined
and the grain movement is reduced.
A comparison between the canal and the rail, in
respect to shipments, is more to the point. The rail
shipments, of grain from Western lake and river ports
were 10,000,000 bushels less in the half year just com¬
pleted than in 1875. During the eight weeks ending
Jane 30, the rail shipments from Buffalo were 3,596,238
bushels, against 5,665,720 in 1876, a decline of 2,069,482
bushels ; from the lake ports in the same time they were
6,440,195 bushels, against 16,459,704 in 1876, a decline
of 10,019,509.
In June, the canal shipments were
10,500,000 bushels, or 78*6 per cent of the whole, against
10,200,000 bushels last year, or 64*4 per cent of the
whole ; the rail shipments in June were 2,850,000 bush¬
els, against 8,500,000 bushels for the same month in
1876.
It thus appears that the railroads have been far
the heaviest losers of grain traffic, so that the canal has
relatively gained, and that it has made an absolute gain
during the last month.
a

It is therefore evident that the bare statement of a
decline in canal traffic this season omits the larger half
of the case. Beyond what has been shown, however, there
is another matter of equal consequence—the effect of the
reduction of tolls upon

the trade of the metropolis. The
following tables show the comparative receipts of flour,
wheat and corn at New York and the principal com¬
peting Atlantic ports :

.—Six moa. enrt’g June 30/77— ,-Six mos. ecd’g Jane 30, ’?6.->

.

Floor.

Philadelphia.
Baltimore....

3 ports
.

Flour.

Wheat.

3,739,928

440,929
466,137
626,907

2,592,300 10,758.200
936,144 13,804,600
1*22,:£3
4,312,692

1,571,200
2,536,687

23,448,923
11,511,847

1.533,973
1,797,947

61*77

30-07

6,417,600
13,291.400

634,135

1,290.770
1,375/198
5322

359,260
.

New lork...

Corn.

495,890
716,230
360,180

.

Boston..

Wheat.

297,375

.

/—Week

end’g June 30, 1877.—,
6,000
18,000
118,800

Philadelphia.
Baltimore....
Boston

.

New York...

It appears

4,724
12,847

7,000
,

54

Corn.

3,660,777
13,756,635

28,675,492
9,319,923

78-93

21 40

heavily than the
canal, so that the latter has relatively gained ; that in
June, and particularly in the last week of June, a more
favorable condition has been returning ; and that the
diversion of grain traffic to the competing points South
has been at least temporarily checked.
Those who see
no significance or gain
to the city and State in this last
fact, or are unwilling to admit it to be anything in favor
of low tolls, are probably beyond the reach of anything
to be

said in favor of them.

ending June 30, 1876.—,
57,100
16,860
160,000

153,000*

14.688

12,400

56,958

32,231

400

803,500
292,165=

23.571

25,900

372,943

328,758
695,894

63.779

39,321

85,696

69,900
1,112,711

1,255,665
588,260

6-2*60

93-93

67 95

57-36

9414

30 (0

more

As to the effect of the

reduction upon revenue,

it is true that the total receipts
only $199,963 up to June 30, against $387,730 in
1S76, showing a decline of over 60 per cent., and that
for the month of Juue they are $100,943, against $207,27$
in 1876, showing a reduction of more, than one-half..
But this comparison is made with a month of large ship¬
ments in last year, and, what is of more consequence,
the portion of the season thus far past is that of light
business. The prospect is that the crops and shipments
will be heavy this year ; besides, the shippers of corn
had such an experience, last season, with the heat, that
they are deferring shipments until the cooler months*
There is no fairness, therefore, in taking this fraction of
the season as a proportional part of the whole, and the
remaining months may reasonably be expected to make
good the deficit of June. We see, therefore, no reason
for the charge that low tolls have failed; on the contrary
they have given already hints enough of success, and the
real season of business is yet to come. It is quite true that
if the two months already past were taken as a guide,
a deficit of $300,000 from the $1,200,000 needed next
year for repairs and maintenance would be almost
inevitable, and that at present the Constitution stands
in the way of a deficiency tax, restricting expenditures
of any year to the amount of gross receipts in the
previous one. But assuming, for argument’s sake, the
probability of a deficit, it by no means follows, as the
high-toll advocates claim, that the reduction has had norecuperative effect upon traffic and will ruin the canal
by putting it into a decaying condition. For, the decline
of revenues, and, consequently, the lack of sufficient
expenditure for repairs and maintenance, which results
are

from low tolls

or even

/—Week

thus, that, for the six months, New York’s
proportion of flour declined a fraction of 1 per cent, of
wheat 17 per cent, and of corn increased about 6 per
cent .as well as increased absolutely;
for the last week
in June her proportion of flour increased 5 per cent, of
wheat fell a fraction, and of corn more than doubled as
well as increased absolutely; in wheat and corn the
three ports lost 970,907 bushels in the last week of June
as
compared with 1876, while New York made a gain of
582,134 bushels in the same time, or—stating it another
way—the excess of New York over these three ports is
714,179 for the last week of June, against an excess of
325,406 in 1876. Taking the entire month of June last,
out of 4,943,57k bushels of corn received at the six At¬
lantic ports, New York received 2,440,327, or 49*4 per
cent, against 1,835,380 (19*6 per cent), out of 9,377,688
bushels in 1876; at Baltimore, receipts in June were
but 986,400 bushels, and at Philadelphia 460,000, against
2,757,000 and 2,751,800 in June of 1876.
These comparisons show that while there has been an
actual decline in grain shipments by canal during the




29

from

no

tolls at all, cannot more

surely produce decay and ruin of the canal than would
of revenue if tolls too high to leave a
remunerative margin for boatmen should drive business
from the canal.
Scylla and Charybdis are equally
destructive, financially, and the State must certainly
choose between the following: save the canal by tolls
low enough to get the needed revenues out of the busi¬
ness attracted thereby; let it go to decay by tolls too low
to support it, or, on the other hand, by tolls so high a$
to drive away business.
the decline

THE BELT LINE

QDESTlIN.

The Committee of the Board of Aldermen who have
had under consideration the resolution

of the Cheap

Transportation Association, suggesting the propriety of
allowing the use of the Belt Line for freight cars drawn
by dummy engines, during certain specified hours, have
at last given in their report.
It was almost a foregone
conclusion that the report would be adverse to the
resolution. That it is so will, therefore, occasion but
little surprise.
actuated by an
honest and earnest desire to meet the wishes of the
The Committee

seem

to have been

Cheap Transportation Association. The report admits
desirability of the object sought to be attained; and
as the resolution had found favor with a large portion

the

THE CHRONICLE.

30

of the press, the members of the Committee appear to
have entered upon their work somewhat predisposed in
favor of the project. Three separate meetings were

held; and care was taken that both sides should be fully
and fairly represented.
In view of a possible greater
good, certain objections, bearing upon local interests,
were held to be of little value.
After having fully
informed themselves, and patiently investigated the
entire question, the Committee report against the reso¬
lution, mainly on the ground that it would aggravate,
not diminish, the evils complained of.
It is calculated that

some

nine thousand tons of

or passes through New
of the Belt Line for the purpose

freight enters into
The

York daily.

designated,
say from nine o’clock in the evening to six in the morn¬
ing, might accommodate the transportation of one
thousand tons. To move such an amount of freight, in
the time specified, would require one hundred cars, car¬
rying ten tons each, and as each car would take at least
half an hour to unload, West street would be practically
blockaded. Freight comes into New York and is carried
out by way of the North River docks and piers, between
Canal street and the Battery, by the Erie, the Pennsyl¬
vania Central, the New Jersey Central, the Delaware
Lackawanna & Western, and by several important lines
use

of steamers.

The blockade of West street would seri¬

ously interfere with all this traffic.
accommodation

of

the

one

In

a

word, the

thousand tons would be

gained at the expense of the eight thousand tons.
This, however, would not be the only grievance
which would result from the proposed arrangement.
The avenues at Fifty-ninth street, from First to
Tenth, would be liable to be blocked, for longer or
shorter periods, during all the hours of the night.
This
would be

a

serious inconvenience to all classes in the

In addition to all this, certain local inter¬
severely; and not a little private prop¬
erty would be rendered valueless. It is not easy to get
over the arguments presented in the report;
and the
presumption now is that the Common Council will re¬

community.
ests

would suffer

fuse to lend themselves to

a

scheme which would mul¬

street

so

[VOL. XXV.
with the steam

to connect

as

We shall

cars.

rejoice to see the commencement of the proposed grand
system of docks which shall surround the city, and make
New York worthy of its forward position; but, in the
meantime, we hope to see full advantage taken of exist¬
ing conveniences.
The opposition evinced by Erie and some of the other
Jersey railroad companies against the proposed im¬
provements is unwise and uncalled for. The New York
Central cannot monopolize ail the business of these
waters.
The great railroads which have their termina¬
tion on the Jersey shore, can easily imitate the example
of the New York Central.
the dock of
on

the

one

a

steamship

side than

Direct communication with

company

more

possible

We hope to see the

the other.

on

is not

proposed experiment made with as little delay as possible,
do that it will mark the commencement

believing

as we

of

and prosperous era

a new

in the history of the ship¬

ping of the port of New York..
RAILROAD EARNINGS IN JUNE AND FROM JAN. 1 TO JUNE :0.
The largest decrease in gross e&rnings in June, 1877, as com¬
pared with the same month of 1876, is showif by the Central
Pacific—mainly in consequence of the drought which has pre¬
vailed to so great an extent in the San Joaquin Valley and some
other parts of California.
The Central Pacific, however, deals
in large figures, and as the company has been paying 8 per cent
dividends on upwards of $54,000,000 stock, nearly all held by the
original projectors and builders of the road, the bondholders in
New York or London may regard a rise or fall im the gross
earnings, within a moderate limit, as a matter of comparative
indifference.
The Illinois roads still show a large falling off in
receipts, and can hardly make a much better exhibit before

The St. Louis roads, West and Southwest, continue to
favorable comparison with last year. The Atchi¬
son
Topeka & Santa Fe reports interruption of its traffic by
excessive floods as the cause for decrease in earnings ; and on the
St. Louis Kansas City & Northern, on accounfof floods, no trains
were run to Kansas City during the second week of the month.
The Pennsylvania Railroad has published in London the state,
ment of its earnings as given below, and it is but fair that its
numerous friends and security-holders in Philadelphia should
have the benefit of any such information given out as soon as it
is ready for publication, and without waiting to get it back from
London.
The following statement of earnings and expenses
includes all lines east of Pittsburgh and Erie for the five
August.

make the most

tiply the inconveniences under which the transport trade
months ending May 31 :
of New York is suffering.
1877.
1876.
Inc. or Dec.
It will not be well, if the Common Council regards its Gross receipts
? $11,800,(XX)
$13,212,000
Dec.. $1,413,000
7,900.00u
9,627,000
Dec.. 1,727,000
work in this matter as finished, when it shall have dis- Expenses..:
Net earnings
Inc... $315,000
$3,900,000
$3,585,000
posed of the resolution of the Cheap Transportation Per cent of expenses
66'95
73'68
Dec..
673
The net decrease on the Pennsylvania Company’s lines (west of Pittsburgh)
Association.
It is gratifying to find that the Aldermen
to April 30 was $150,000.
are fully alive to the necessities of the situation. At the
This statement, with that of Lake Shore for six months,
proper time, we are told, it will be the duty of the Com¬ recently published' by us, and the reported decrease of about
mon Council to encourage and promote
by every means $475,000 on the Grand Trunk of Canada and about $210,000 on
in their power the construction of a freight line of rail¬ the Great Western, indicates that the trunk railroads liave]found
road all round the docks of the city, along the two a relatively unsatisfactory business in the first half of this year.
EARNINGS IN JUNK.
Dec.
Inc.
187G.
1877.
rivers, in connection with a comprehensive system of
$9,141
s
$186,641
$177,500
Atchison Top. & S. Fe.
dock improvement and warehouse facilities. ' In the Burl. C. Rap. & North’n.
100,700
31,343
69,357
2,634
18,617
15,993
Cairo & St. Louis*...
mean time the Committee
39.228
111,008
150,236
reports in favor of “ granting Canada Southern
255,269
1,616,269
1,391,000
the privilege of connecting docks above Canal street, Central Pacific
88,561
451,083
36v\S22
Chicago & Alton
288,692
877,692
539,000
Chic. lilil. & St. Paul..
with any railroad that may have the right to use steam- Cl. Mt. V.& Del.&brchs..
1,546
33,650
35,196
15,792
5\843
41,051
Denver & Rio Grande..
51,343
engines or dummies, and to run its freight cars to that Grand Trunk of Canada!
695,077
613,734
293 695
36,820
256,875
Gt. Western of Canada!.
spot.” This latter suggestion will in all likelihood take Indianap. B. & Western..
44,000
85.090
129,090
8,652
64,948
73,800
Int. & Gt. Northern
16.291
practical shape without delay. The dock of the White Misfouri Pacific
319.4-7
303,126
233,1 i 6
24,997
253.123
Star Steamship will, if permission is granted, be put in Missouri Kansas & Texas
37.282
*2,415
34,8 17
St. L. A. & T. H. (br’chs)
GROSS

...

—

..

-.

'

direct communication with the New York Central.
will be

.

immediate

It

gain to the White Star Line ; but
there is no reason why the benefit should not be shared
by all the steamship companies. There is no necessary
obstruction in the water way of the North River. If
the steam cars cannot be brought down below Canal
street, so as to connect with the steamships, the steam¬
ships can, without difficulty, be moved up above Canal




an

St. L. Iron Mt. & S...*...
St. L. K. C. & North
St. L. & San Francisco...
St.L.& So.E.—St L.Div.*
Do
Ky. Div.*
Do
Tenn. Div.*
Tol. Peoria & Warsaw....

Wabash
Total

252,613

304.362

8,720
105,612

18,127

38.9.31
17.346

7,731

7,301

32,520
80.010

135,928

335,2.7

399 457

$5,566,954

51,719

2

171,856
97,778

^

$6,410,046

....

56,*864
8,884
6,461

“81
427

55,918
64.230

$159,433

Three weeks only r f June in each year.
t Figures are for the four weeks ended June 30 on
and for the four weeks ended June 29 on the Great Western.

$1,0"2,515
843.082

*

the Grand Trank road,

1876'.
$1,045,803

1S77.

$1.028,-HO

& Santa Fe

Bari. C. Hap & Northern..
Cairo & St. Louis*

Canada s-onthern
Central Pacific

2,959,460

Rio Grande...
Indianap. 13. & Western.
Int & Great Northern...
Lake Shore & M. South..
Missouri Pacific
Missouri Kansas & Texas
St. L. A. & T. II. ibr’chs)
St. L Iron Mt. & So
....

St.

Louis & S. Francisco

City & N.,
St.L. & S.E.—St. L. Div.*
Do
Ky. Div...*

St. L. Kansas

Tol. Peoria & Warsaw..
Wabash

99,301

6,887,309
1,751,9.*9

56! 5 29

1,417.940

13,094

2 5,524

2.169
212 953

1,719,3 6

earnings

453,100

Operating expenses

143 330

8,002

T67.373

1,221
194,981

1,9S1,2.4

2,123,353

118,089

$33,746,472

$35,971,338

Net

$8,097

Net.

Three weeks only of June in each year.
Figures this year embrace Trinidad extension; in 1876, the earnings of this
extension were not included prior to June 1.
The following companies have but recently reported their earnings for May:
*

t

Net

$232,641
-

18:,694

$50,747
$117,200
107,291

$125,993

$3,335

$9,909

$13,741

$13,452

22,600

$24,161
20,766

$97

•

$2,60S

$6,431

$7,978

$37,827
32,185

$46,508
36,233

$167,299

$208,519

135,431

149,971

$5,692

$10,275

$31,868

$58,578

$18,108
19,141

$27,834

$92,078

26,474

82,4-16

$130,851
109,203

Deficit $1,C36

$1,390

$9,592

$21,618

Paul-

expenses

earnings

....

11 *,242

$1,230

earnings

Operating

$593,263

$60,069
52,09-1

earnings

Sioux City & St.
Gross earnings

873,475

$59,420
51,959

SL Paul & Sioux CityGross earnings

$2,806,099
2,221,866

$632,231

$1,466,743

10,844

Operating expenses
$581,233

1876.

11,461

Operating expenses

4.752

$35,614

$3,471

St. L & So. East.—Tenn. Div.—
Gross earnings
* $12,694

88,534

$1,657 977
965,746

$50,2;2
42,185

earnings

Net

$257,338
171,724

40,947

St. L. & So. East.—Kentucky Div.—
Gross earnings
$22,697

1,232

611,310
1,499,7 6
; 269,913

-

Net

190,135
9U59

$95,275

Operating expenses

15

693,385

.

Total
Net decrease

1,001,0 7

58*,868

earnings

St. L & So. East.—St L. Div.—
Gross earnings
$41,418

211.419

769,531
-

Net

326,945

4-8,501

Tenn.Div*

Do

74,745

184.2 0
t 2 3,559

184,185
t 302,*60
579,396
659,027
6 434,200
1,807,453
1,430,934
237 693
1,962,339
612,512
1,411,222
2'5.161
135,323
66,:52

Denver &

1.051

118,699
832,881
8,026,915
2,246,701
3,960,517

2,035,282

Chicago & Alton
Chic Alii. & St. Paul—
Cl. Mt. V.& Del.&brchs..

St. L. Iron Mt. & SouthernGross earnings
$28L 6-6
3 .Oner. & gen. expenses..... 194,411

$17,363
160,586

1877.

1876.

1817.

Dec.

Inc.

589.235

428,649
119,750
907,626
7,700,000

/—Jan. 1 to May 31.-

May.

1 TO JUNE SO.

GROSS EARN IN 68 FROM JANUARY

At. Top.

31

.THE CHRONICLE.

1877.]

Jolt 14,

GROSS EARNINGS IN MAY.

1876.

1877.
Denver Pacific

Hannibal & St.
Kansas Pacific

162,719

Joseph.

Lehigh Valley

Louisville Cin. & Lex
Louisv. & Nashville....
Mobile & Ohio
Nash. Chat. & St. Louis..

95,401
128,646

New Jersey Midland
Paducah & Memphis

Philadelphia & Erie
St. Joseph & Western....
St. Panl & Sioux City....
Sioux City & St. Paul...

52,073

16,424
260,591

14,943

22,232

6,141
14,776

8,681
9,756

Hannibal & St.

Joseph..

$762,659
1,0.(2.393
421,877
2,039,369

.

.

Louv. Cin. & Lex....
Louisville & Nashville...
Mobile & Ohio
Nashv. Chatt. & St. L.
New Jersey Midland .
Paducah & Memphis..
Penn, lines E. of Pittsb..

717,900

693,554
250 112

73,699
11,810,000
1,139,159

St. Joseph & Western...
St. Paul & Sioux City...
Sioux City & St. Paul

1 TO

Increase.

150,312
167,299

$763,276
1,125,620
41 >2,532
1J22,646
767,694
758,074
229,8-4
9;,683
13,212,000
1,3)4,455
135,2-3

92,078

$

GROSS EARNINGS,

20,228
-

-

41,2,0

$171,825

$1,8 '3,461
1,632,137

The statement below gives the gross earnings, operating expenses and net
earnings for the month of May, ana from January 1 to May 31, of all
the roads that will furnish statements for publication:
-

Atchison Topeka
Gross earnings

& Sante Fe—
$189,915
Operating expenses
108,139
earnings

$S1,776

1876.

Jan. 1 to
1877.

Net

expenses

earnings

Operating

expenses

Net earnings

Net

.

earnings

Expenses
JNet earnings

Net profits
Nashville Chatt. & St. L.—
Gross

earnings

Operating

expenses

& taxes

Net earnings

$71,60“
53,926

$100,912
77,831

$359,292
282,925

$488,535

.$12,679

123,071

$76,367

$133,459

355,076

$86,327

$32,853

25,504

24,711

$148,9? 9
118,123

$150,sro
119,722

$10,823

$8,147

$30,866

$30,828

$29,614
11,613

$29,714

$126,849
49,905

$

$17,911

$

$76,914

$

$246,552
151,528

$247,602
139,380

$1,092,393
650.232

$1,125,620
732,899

$95,024

$108,222

$442,161

$392,721

$90,675
68,337

$89,085
69,U0

$421,877
338,011

$402,532
339,832

^22,338

$19,935

$83,806

$62,7lO

$128,646

$143,422
93,429

$693,554

81,493

420,104

'

$75S,074
466,982

$56,465

$52,073

$250,112
192,568

$229,884

40,340

$57,544

$

11,149

$73,699
56,633

$91,683
59,677

$5,95-1

$3,794

$17,051

$32,006

$260,591

$298,495

$1,139,159

$1,304,456

189,432

205,185

818,702

904,415

$71,159

$93,310

$320,457

$400,041

$16,125 *

$

$16,421
10,470

$14,913

Paducah & Memphis—

earnings

Net

expenses

earnings




•

3 mos.
short.

20.34
25;19

.

.

.

.

•

.

•

3 mos.
short.

....

....

«»
....

June 26.

3 mos.

•

....

....

....

•

•

•

125*. 60
20.47
20.46
25 5-16

....

....

....

•

....

June 27.
Jnne 29.

1 May 10.

.

27.5Q

•

3 mos.
60 davs.
90 days.

47.90
4.88

....

May 15.
May 15.

....

days.
44

Is. S 13-16'?.
Is. 8 13-10cL

•

.

....

June
June
J une
June
June
June

28.
28.
20.
<0.
26.
27.

90

days.
44

6 mos.
44
44
*4

3 mos.

42i*
23(§u4
Is. 9d.
Is. 9'/.
4s. OAd.
5s. 5d.
4s. 1d.
97

LFrom our own correspondents

London, Saturday, June

SO, 1877.

has
the

quarterly and half-yearly payments, which
scarcely contributed to checking a downward movement in
There is an ample supply of floating
rates of discount.

capital, and there is still some probability of a reduction in the
minimum; hut it is yet possible that the directors of the
Bank of England may prefer to encounter the formidable opposi¬
tion of the open market, and remain at 3 per cent during the
There will, of necessity, be some falling off in
summer months.
their discount business, as the open market is working at 2£ to 2£
official

Operating expenses

Operating

•

connection with the

$291,092

Gross

•

$435,731

$273,450

Net earnings
Philadelphia & Erie—

••••••

•

•

$372,193

$49,993

Gross earnings
expenses

•

....

30

Alexandria....

12.08
25 22

$118,504

$47,153

Operating

r

.

Hong Kong...
Shanghai
Penang

short

•

The only alteration that can be noticed in the money market
this week is that there has been a somewhat increased demand in

New Jersey Midland—
Gross earnings
Net earnings

»

..

Bombay
Calcutta

•

$859,162
422,428

Louisville Cin. & Lex.—
Gross earnings
Expenses

J

•

l(t(

$830,940
478,742

Kaneas Pacific.—
Gross earnings

44

Pernambuco

•

RATE.

$219,370
100,866

Denver Pacific—
Gross earnings... :......
Operating expenses

27.97X@28.02X
27.9714 @28.02
46% @46%

44

1876.

Clev. Mt. Vernon &Del. andBr’chs.—
Gross earnings

44

24% (3 25
47%
51%(@52
27.97 A ©28.02%-

Valparaiso......

May 31.-

Burl. Cedar Rapids & North.-

earnings

days.

3 mos.

New York.
Rio de Janeiro
Bahia
Buenos Ayres..

15,029
38,773

90

...

Naples.....
Madrid....

17,984
1,412,0 0
165,297

ft*

...

_

!2.3%©12.4%
25.S7X@25.42%
20.64 ©20.68
short.
25.17^©25.27!4
3 months. 25.32X&25 37X
44
12.82% ©12.87X
is
20.64
©20.68
14
20.64 ©20.68
44

Milan
Genoa

64,520

203,543

May.-

Lisbon.

TIME.

DATE.

it

44

29,794

-

RATE.

44

Cadiz

EXPENSES AND NET EARNINGS.

1877.

....

33,227
19,345
116,723

130,851

$21,052,548

$19,420,411

Decrease.
f 617

Net decrease.

Operating

Paris
Paris
Vienna
Berlin
Frankfort

31.

MAY

,1876.

1877.

Gross

Antwerp..-....
Hamburg

$84,076

$121,371

TIMS.

Amsterdam... 3 months.

37,295
RNINGS FROM JANORY

EXCHANGE O

LATEST

ON—

37,904
5,668

......

Net, increase.

Net

GE AT LONDON—
JUNE 29.

1,481
tr

$2,100,617

$2,137,972

LONDON

4,392

32,044
46,508
27,864

37,8 G
18,108

Netdh

.

,

298,495

26,376

dammerrial (Englisl)

RATES OP EXCH ANGE AT LONDON AND ON
AT LATEST DATES.

1,050
70,246
1,590

143,422

56,465

an if

21,430

515,7:4
89,085
860,342
101,542

9 >,675
382.574

.

$100

$

247,602

246,552
586,000

Catest iSHanetarn

Decrease.

Increase.

$29,714
141, 89

$29,614

per cent; but their profits may be equally
these they may be content, as a belief exists

as

large, and with

that when the usual
slack summer months have passed, a better state of things will
exist. Were it not for the war, there can be little doubt of the'
fact that business would steadily improve. The weather is favor¬
able for the growing crops, not only in this country, but in most
foreign localities, and as money is cheap, some natural stimuli
exist.
The war, however, has now entered upon its critical stage.
The Russians have crossed the Danube, and hostilities are
progressing in earnest. Each day’s, indeed each hour’s, news is
awaited with intense interest, if not anxiety, and it is evident that
the time is approaching when Russian policy will declare itself,
and when other Powers may have to declare theirs.
Before very
long, concealment of views will be an impossibility, and hence,
with the possibility of momentous issues at stake, merchants, and
speculators both in produce and securities, prefer to hold aloof.
The uncertainties are too great to admit of anything being under.,
taken with a light heart, and, perhaps, the Home Secretary’s
words that a triumphant army is a difficult force to resist, will
before long possess unusual significance. Russia assures this and
that, and if her pledges are kept, there is not much danger to

apprehend; but no sane Englishman can come to any other con¬
clusion than this—that Russia will insist upon substantial advan
tages for the great sacrifices she is making, and that something
tangible will be required for her protection of Christian interests.
The capacity of the Turks for resisting Russian aggression is at
the present moment being put to the test, and much will now
depend upon the power of Turkey to prolong the campaign, and
Spring. The chances are certainly
adverse to the Turks; and, for that reason, there is still a disposi
tion to believe that in the event of the Russian army gaining a
to

necessitate another next

substantial victory, the Powers will be called upon to mediate*
a course which would be imperative as far as Turkey is concerned^

probably be welcomed by the Czar. Such a
recently been promoting confidence; but, at the same
time, it must be admitted that it is of too vague a character to be
confidently entertained and relied upon.
Short loans have been rather more in request during the past
week, and the rates obtained have slightly improved. A Stock
Exchange settlement, and the half-yearly and quarterly payments
have created some additional demand; but as far as discount is
concerned, there has been continued ease. Annexed are the

and which would
belief has

3

Bank rate

Open-market rates:
30 and 60duys’
3 months’bills

Sk'&Stf

bills

| Open-market rates:
|
4 months’ bank bills

Percent.
2

6 months’bank bills

2 ^2%

{

4 and 6 months’trade bills.

!
by the joint-stock banks and dis¬
subjoined:
Per rem

The rates of interest allowed
houses for

count

deposits

are

.

The

following

the current rates of discount at

are

the leading

cities abroad:
Bank
rate,

Bank

Open

market,
per cent, percent.
2
1*4
3
2*40)2%
4
3

Paris

Amsterdam

Hamburg
Berlin

Fruukfort
Viennaand Trieste..,.

Sk®3*4
3*4^3%

4
4

4%

4@1%

Madrid, Cadizaud Bar¬
celona
Lisbon and Oporto...
St.'Petersburg

6

8

6

5

Open

market
per cent, per cent
rate,

2*

2%

Brussels

and

Turin, Florence
Rome

5

4

Leipzig

4

3k
4%

5

.Genoa
Geneva
New York.
Calcutta.

4

4
..
.

Copenhagen.,

.

.

3

6

4%

4%

5%

6

The Russian army

having now crossed the

Danube in force,

sanguinary battles having taken place, the stock mar¬
kets, pending the result of those operations, are in a state of sus¬
and

some

pense.

The weather being

remarkably fine for the ripeniDg

and monev being cheap, tlie tone may be regarded as firm;
the probability is that were there to be any distinct indica¬

crops,

and

approaching peace, a marked improvement would take
place. The amount of business in progress has been exceedingly
moderate, as investments are few, while speculators dare not
operate as long as the political future is possibly pregnant with
tions of

an

momentous results.

United States Telegraph Com¬
pany, the resolutions for liquidation and reconstruction were
carried.
The new chairman, promised the shareholders that,
under their agreement with the Anglo-American Company, they
would receive a dividend of 7 per cent per annum, and set aside
At the

present quotations for money:
Tercent.

fVot. XXV.

CHRONICLE.

THE

32

meeting of the Direct

per annum towards a reserve.
The trustees of the 1872 Leased Lines

£25,000

Rental Trust Bonds of
the Atlantic & Great Western Railroad Company notify that the
2%(&....
funds at present in hand are sufficient to admit of a distribution
2%(gl
It is obvious that with discount at so low a rate, the banks and of £3 per bond of £200, and this payment will be made to the
discount houses are not willing to take fresh deposits at the pres¬ holders of the coupons of Jan. 1,187G.
The coupons must be
left three clear days, for examination, at Messrs. Morton, Rose &
ent time.
Annexed is a statement showing the present position of the Bank Co.’s, and will be payable on the 9tb prox. The funds in hand
of England, the Bank rate of discount, the price of Consols, arise from dividends on the shares of Cleveland & Mahoning Val¬
’the average quotation for English wheat, the price of Middling ley Railroad Company.
The dividends due July 1 on the principal American railroad
Upland cotton, of No. 40's Mule twist, fair second quality,
and the Bankers’ Clearing House return, compared with the securities have been formally announced for payment during the
2
2

.Joint-stock banks
Discount bouses at call
Discount bouses with7 days’ notice
Discount bouses with 14 davs’ notice

four

previous

week.

1873.

16'4.

£
■Circulation—including
£
bank post-bills
26,470,519 27.451,091
Public deposits
11,4 ih,*27
Other deposits
19,111,754
Government securities. 13,257,654
Other securities
24,334,875
Reserve of notes and
.'
11,275,929
bullion in
both departments.... 22,336,314

coin

Coin

1875.
£

1876.
£

1877.
£

and

9.7i*5.890
9,729,890
2u, 158,029 25.262,940
13,601.093 13,749.629
22,543.779 25,403,537

22.072,398 20,95 ,739
14,811.9*2 15,214 859
17,122,862 18,510,050

but

0.0*9,7&3

8,7*0,469

17,243.157

13,832,353

11.839.686

13,732,901

23,929,601

26,639,116 29,959,412 26,826,393
55*10 p.c. 46*17 p.c.
2 p. c.
3 p. c.

2% p. c.
9 2%

3% p. c.

93%

93%

638.4(1.

42s. lid.

48s. 4d.

No.40s, male twist fair
id quality
Is. 4%d. la. 0?^d.
ll%d.
Clearing House return 148.395,000 1 34,436,000 1 07,254.000

73,431.000

6 p. c.

92&

English wheat.av. price
Upland cotton....

58s. 8d.
8%d.

8%d.

7 7-16d.

6 3-16d.

lid.

94%

64s. Od.
6d.

10d.

61,800,01)0

Owing to the payments incidental to the period of the year, the
position of the Bank is scarcely so good, the proportion of reserve
to liabilities having declined to 46^ per cent.
The note circula¬
tion has been rather considerably augmented, and hence there is
a diminution of half a million sterling in the total reserve.
The weekly sale of bills on India was held at the Bank of Eng¬
land on Wednesday. The amount offered was £2G5;000, £1G3,G35
being to Calcutta, £100,000 to Madras, and £1,8G5 to Bombay.
Tenders on Calcutta and Madras for telegrams at Is. 8 ll-IGd.
received about 75 per cent, and for bills at that price and above
xn full.
On Bombay, tenders for bills only, at Is. 8 ll-IGd., re.
ceived 90 per cent.

country, partly owing to

the season of the year

partly to the political situation, has been exceedingly quiet;
hopes are entertained of a fair autumn business.
Millershaving, for sometime past, purchased very sparingly,
rather more business has been passing in wheat during the past
week. This was prominently the case during the earlier part,
and holders then endeavored to secure better terms ; but the
brilliancy of the weather, and the favorable accounts regarding
the growing crops, both here and abroad, have led to a return of
much cautious buying, and the market closes with a somewhat
weak tone.
A fair average yield of agricultural produce is
looked forward to, and, if the present weather lasts, the harvest
will not be late. The progress of the hop plantations has been
rapid during the present week.
During the week ended June 23, the sales of English wheat
in the 150 principal markets of England and Wales amounted
to only 24,738
quarters, against 29,895 quarters last year.
In the whole Kingdom it is estimated that they were 99,000
quarters, against 119,GOO quarters in 1876. Since harvest, the
sales in the 150 principal
markets have been 1,842,793
quarters, against 1,891,751 quarters; while in the whole King¬
dom it is computed that they have been 7,371,200 quarters, against
7,567,100 quarters in the corresponding period of the previous
season.
Without reckoning the supplies furnished ex-granary, it
is estimated that the following quantities of Wheat and flour have
been placed upon the British markets since harvest:
1873-4.
1874-5.
1875-6.

27,913.9P8 28.235.798

of reserve

to liabilities
Bank-rate
Consols

The trade of the

28,259.281

and

Proportion

Mid.

(&....

years:

,

,

@...*

period of the week, was firm. Fine
dollars 54£d. per ounce. Less
1876-7.
cwt.
cwt.
cwt.
firmness, however, has since been apparent, and fine bars are now
Imports of wheat
....31,163,835 43.743.116 32,60*2.563 34,330/273
5,485,695
5,569,182
5,243.737
quoted at 53|d. to 54d. per ounce.
5,685,544
Imports of flour
31,799,500 43,343,000 35,70*2,200
Sales of home-grown produce
31,912,061)
According to the four weekly returns published in the Gazette,
Total
71,791.379 61,777.433 81,505.760 75,538,168
which obviously embrace a period of twenty-eight days, the
*2,345,164
243,566
821,050
Exports of wheat and. flour
.
770,973
imports of gold into the United Kingdom amounted to £2,050,232,
Result
.71,020,406 80,956.353 81,262,184 73,193,001
and the exports to £1,297,277.
The imports of silver were Average
price of English wheat.... 52$. 8d.
43s. 7d.
fcls. 8d.
45s. lOd.
£l,752,9bl, and the exports £1,248,415. Of gold and silver com¬
The following figures show the imports and exports of cereal
bined, the imports were £3,809,223, and the exports £2,545,092,
produce into and from the United Kingdom since harvest—viz.,
showing a gain therefore of £1,203,531.
from the 1st of September to the close of last week—compared
The Clearing House returns during the past month, that is to
with the corresponding periods in the three previous years:
IMPOBT8.
say for four exact weeks ending with Wednesday last, exhibit a
1873-4.
1874-5.
1875-6.
1876-7.
total of £378,794,000, against £328,2G9,000, showing an increase Wheat
31,330,273
32,602,568;
43,743,116
The silver

market, at

one

bars realized 54d., and Mexican

.

.

of about

£5G,500,000.

exchange are exceedingly scarce. Business
’Change” has, in fact, beeu reduced to exceedingly narrovy

Continental bills of
“on

proportions.




11.461,751
9,061,555

Barley
Oats

Boana

Indian Corn

V'lour

28.0

...

...

.

2,141

0,685,644

7.435,994
9,272.597
1,217,998

11.CU7,316
7,7:46,409

3.209.674

2,420,246

21,587,732

13,432,816

5.213,787

626

7,786.419
8,747,510

1,016,234
3,292,139
14.313,907

5,485.695

THE

July 14, 1877.]
EXPORTS.

192,714
186,196

795.258

Wheat

22,868

Barley
Oats
Peas
Beans.

Indian Corn
Flour

70,02)
18,103

10,925
127,104

167,352

26,6*27

423,9*2

47.527

2,447
46,011

39,538

23,792

50,832

22,050

2,177,812
232.676
104,450

314,518
84,352
8,237

33

CHRONICLE

2,513

The following will show the exports of specie
New York for the week ending July 7, 1877,

from the port of
and also a com¬
parison of the total since Jan. 1 with the corresponding totals
for several previous years:
Asplnwall
London...

July 2—Str. Colon
July 5—titr. Frisia

...

Amer. gold coin..
..Mex. silver dols..

$4,000
29.584
55,000

Amer. silver bars.

.

Amer. silver bars.

Paris

28,000

Amer. gold coin..
public sales of Colonial wool were brought to a close on
125,000
5,000
Liverpool
Amer. silver coin.
Tuesday last. The arrivals to April 24 amounted to—Sydney July 7—Str. City of Brussels.
Amer. gold coin..
500,000
and Queensland 54,489 bales, quantity catalogued 55,407 hales ; July 7—Str. Neckar
London
Amer. silver bars.
40,000
Mex. silver dols...
15,000
Port Philip 103,797 bales, quantity catalogued 96,263 bales;
Total for the week
$801,584
Adelaide 38,G20 bales, quantity catalogued, 42,696 bales; Swan
Previously reported
20,282,681
River 3,670 bales, quantity catalogued, 3,468 bales ; Tasmania
Total since Jan. 1, 1877
$21,084,265
9,706 bales, quantity catalogued 9,361 bales ; New Zealand 63,909
Same time In—
Same time in—
bales, quantity catalogued^!),914 bales ; Cape 29,902 bales, quan¬ 1876
$20,925,833
$31,509,012 1870
16,450,180
1875
55.103.014 1869
tity catalogued 23,713 bales. Total quantity catalogued, 290,822 1874
.*
55,425,178
31.677.T0l 1868.
31,213.653
31,829.235| 1S67
bales. Total bales, 303,093 ; of which were sent to Continent and 1873
40,363,138
1872
44,145.611 1866
Yorkshire, 12,000 bales; add held over last February-March 1371.-.-.
43,403,898
series, about 38,000 bales,
available for May-June series,
The imports of specie at this port during the same periods have
329,093 bales. Several shipments withdrawn during the early been as follows :
$36,720
ty
part of this series were re-offered and sold, and the total quantity
MO
July 3—Schr. M. A. Coombs
Gouaiues
Silver coin.
of withdrawals and wools held over is estimated at 60,000 bales. July o—Str. Columbus..
5,500
Havana....
Silver coin.
10,132
Hamburg
Silver bars.
On the opening night there was a numerous attendance of buyers, July 5—Str. Pommerania
1,250
July 7—Str. Alps
...Aspinwall
Silver coin.
Gold dust.
1,700
and good competition at a decline of 10 per cent on previous sales’
average rates.
This decline, however, was fully recovered in a
Total for the week
155,612
7,379,061
few days, and the market remained firm for about a week, when, Previously reported
in consequence of political disturbances in France, and dimin¬
$7,434,873
Total since Jan. 1,1S77
Same time in—
8ame time in—
ished support from French buyers (which is always a material
$3,233,600
1876
$2,331,867 1871
element in this market), a re-action set in, and opening rates 1875
7.281,647
7,336,161 1870
9.747,700
1874
2,659,803 1869
Again prevailed. As the sales progressed, more assuring reports 1873
4,008,253
2,758,969 1868
1,606,975
of trade were received from the English manufacturing districts; 1872
2,7 3 J.743 1867
—The forty-eighth semi-annual statement of the Home Insur¬
this, coupled with the firmness displayed by importers in limiting
ance Company of New York has been issued this week, showing
the daily supply of wool, created a firmer tone, and as buyers
the condition of the company on the 1st inst.
The exhibit is of
who had held off were then compelled to operate for actual
the satisfactory nature of the previous statements of this com¬
requirements, prices again rallied, and, with keen competition* pany, especially as relates to the character of its assets, the total
th# series continued until the close at rates fully equal to value of which is $6,148,275. This amount is made up of $418,000
cash, $1,933,000 in bonds and mortgages on real estate, worth at
February-March average quotations for all merino Australian its
present salable value $4,642,000; of United States, State and
qualities. The demand for fine and medium Australian flocks, City and bank stocks, at present market value the company holds
free from burr, &c., has been good throughout, at satisfactory some $3,200,000. The company has declared a semi annual divi¬
prices; but faulty and inferior descriptions, infested with burr} dend of five per cent, payable on demand, and its financial posi¬
tion
as shown by its statement, is stronger than at the
and crossbreds, have suffered most.
The latter met with ready date to-day,
of its last preceding sta^ment, notwithstanding the con¬
sale, being particularly adapted for present fashions. Prices, tinued depression in mercantile affairs.
however, owing to the extremely low rates prevailing for
—The Connecticut Mutual Life Insurance Company of Hartford
English wools, have ruled moderate. Fine lambs met with has made an important change in its New York City Agency.
ready sale at high prices.
Capes, with few exceptions, have Mr. Philip S. Miller, late of Miller & Smith, has been appointed
stock
is large, and there is also a its general agent for New York city and vicinity and New Jersey,
sold unsatisfactorily. The
and he has associated with him Mr. James J. Goodwin, formerly
large stock of River Plate wool at Antwerp, which acts preju a
partner in the firm of Dabney, Morgan & Co., bankers. Mr.
dicially to this description. On account, however, of the small GooJwin brings to the firm a long experience in financial matters,
quantity brought forward, prices show an improvement of about as well as an irreproachable character, and the Connecticut
Id. per lb. on opening rates.
The quantity taken for export is Mutual may be congratulated upon having made so strong a
move in this city, at a time when the public is looking only for
estimated at 159,000 bales, including 6,000 bales for the United
what is thorougly reliable in life insurance.
The style of the
'States. The next series will probably commence on the 7th or firm is Miller & Goodwin,and their office is at No. 194 Broadway.
14th of August, when about 300,000 bales are likely to have
—We have received from Mr. James M. Swank, Secretary
arrived.
of the American Iron and Steel Association, a copy of his
annual report for 1876.
This report, which has become an
authority upon iron and steel statistics in this country, brings
down the history of the trade to January 1, 1377, and also gives
quite an elaborate review of the present condition cf the iron
Imports and Exports for the Week.—The imports this industry iu foreiga countries.
The volume is in pamphlet form,
of about ninety pages, aud is sold at $2. The office of the Asso¬
week show an increase In dry goods and a decrease in general mer¬
ciation is at 265 South Fourth street, Philadelphia.
chandise. The total imports amount to 45403,653 this week,
The United States Life Insurance Company, of which Mr.
against $8,220,740 last week, and $6,184,258 the previous week. James Buell is
president, reports that during the first half of
The exports amount to $5,032,895 this week, against $4,439,242 1877
they have issued 2,349 new policies, insuring $4,909,235.
lftst week, and $5,711,029 the previous week. The exports of against only 1,094 policies, insuring $2,020,820, in the same period
Iu June last, there were issued 343 policies, insuring
cotton for the week ending July 11, were 4,949 bales, against of 1876.
$689,290,
against 202 policies, insuring $363,060, in June, 1876.
1*165 bales the preceding week. The following are the imports
These returns do not appear to indicate a dull businees with this
at New York for week ending (foi dry goods) July 5, and for the
company.
week ending (for general merchandise) July 6 :
The transactions for the week at the Custom House and Sub-

The

.

...

—

FOREIGN IMPORTS AT NEW TO UK

Dry goods

General merchandise...
Total for the week.

FOR THE WEEK.

1876.

1875.

1874.

$595,931
1,912,328

$D56.5'3

$1,781,536

3,385,66a

6,033,452

$2,538,262
156,983,495

$4,342,501
183,115,523

$7,611.933

Previously reported.... 216,261,011

1877.

Treasury have been as follows:

4,406,100
$5,403,653
171,185,337

July

1.^.... $224,075,999

report of the dry goods
of dry goods for one week later.
Iu

our

The

$159,523,757

$170,594,010

trade will be found the imports

a statement of the exports (exclusive of specie)
New York to foreiga ports, for the week ending

following is

from the port of

July 10:

EXPORTS FROM NEW YORK FOB TIIK

1874.

1875.

1876.

1877.

For the week

$7,387,186

$6,190,155

Previously reported....

144.930.677

121,751,995

126,963,103

$5,022,895
113,915,533

£152,387,861

$127.9:2,151

$130,949,128

$133,963,430

Since Jan. 1




$3,9^4,023

....

9...

545,000

759 0S7 90

10
11...
12...
13...

271,000
365,000
430, oi;0
1j6,0U0

1,84:,912 93

..

44

Total
*1,948.000
Balance, July H
Balance.

Texas

WEEK.

••

Gold.
Receipts.
*151.000 $1,310,108 53

44

l€

$187,453,023

4

“13..

Payments.-

Receipts.-

44

14

Since Jan.

-Sub-Trcasury.-

Custom
House

$1,002,553

749,418 96

$683,318 84 ;$1,653,440 25
1,519,679 59
835,652 37
787.993 67

l,4:-,6,802
922,880

1,410,057 96
846,502 54

$103
§108^

10a, 1884.. $100
10s, pens ,.
(is of 1892.. pji

$ Will) iutorost.

109

109^
1-1

104?*.
96

Austin 10s.... 100
Dallas 10s
‘.(0
llou-tou 6’s..
...

..

».

Aut’io lus.» 90

634.435 87
612,59: 71

2,455,325
489.n52

43
24

$6,983,088 82 $6,187,327 14
bl.870,2 52 43 48.1 ■>1.947 32
82.260,190 58 49,293,868 51

Securities.—Messrs. Forster, Ludlow

State 7s, gld
7s,g.80 yrs

Currency.

Gold.

Currency.

F
31

757,678 98

$579,946 68
1,545 995 26
666,9hl 66

994,503 64
656

.

59 79

596,238 52

6,593,130 67 $5,040,405 75

& Co., 7 Wall st., quote:
! G. II. & S.

I

6s, s. 83

H.&T.0.7s,g.lst 73

d ) 8« con. 2d
60
G.II.&U.7s,g.lst 75

THE

34

CHRONICLE.

Saniicc0>

<£fie

6«, 1881
Called bonds

organized during tlie past week.
T

DIVIDENDS.
The following dividends have

recently been announced :
Per
Cent.

Name op Company.

When
P’able

Railroads.
East

*

3

Pennsylvania

314
*y*

Middletown Unionv. & Water Gap
Northern (N. H.)
Panama (quarterly)
Winchester & Potomac
Insurance.

^

Adria'ic Fire
American Exchange
American Fire... .:
Atlantic
Citizen*’
Columbia Fire
Commercial Fire
Continental
'
Fariaeut Fire
Firemen’s Fund
Guardian Fire
Home

3
3

...

5
5
8
5
10
5

Fire

10

3*
7*

.

FRIDAY*

On dem
On dem

July
9

July
10.

reg..Jam&Jnly. Ill*

111*

111*111
112**112

3*
3*

On dem
On dem
On dem
On dem
On dem
On dem
On dem
On dem

8

July lu

5
10

On dem
On dem

On dem

<uly 16 July 12 to July 15
On dem

July
12.

July
13.

111
111
111* 112*

6s, 5-20s, 1865, n. i...reg.. Jan. & July. 106* *106* *106* *106* 106* 106*
6s, 5-iOs. 1865,n.i..coup..Jan. & July.*106* 106* 106**106* 106* 106*
6s,5-20s,1867
reg..Jan. & July. 109* 109**109**109* 109* 109*
6s,5-2Us,1867
coup...«an. & July.*109* 109*4 109**109* 109* 109*
6s, 5-20s, 1868
reg..Jan. & July. *112,* *112* *112* 112* 112* *112*
6s, 5-20s, 1868
coup..Jan. & July.*112* *112* *112* *112* *112* *112*
5s, 10-408
reg..Mar. & Sept. 112* 113
112* 112* 112*. 112*
58,10-408
coup. .Mar. & Sept. *113* *113**113* 113* *113
*113*
5s, funded, 1881
reg..Quar.—Feb. Ill* 111**111* 111* 111* 111*
5s. funded, 1881... coup..Quar.—Feb. Ill* 112
111* 111* HI* 111*
.108**108* 108*
4*?, 1S91
reg.. Quar.—Feb. 109
109
109
44s. 1891 ........ coup. .Ouar.-Feb. *10S* *108* *108* 108* 108* 108%
123*
6s, Currency
reg. .Jan. & July. *123* 123* .*123* *123* 123*
*
This is the price bid; no sale was made at the Board.
The range in prices since Jan. 1, 1877, and ihe amount
class of bonds outstanding Jnly 1, 1877, were as follows;

of each

6s, 1881
reg.
6e, 1881
coup.
6s, 5-20s, 1865
coup.
6?, 5 20s, 1865, new..coup.
68, 5-20s, 1867
coup.
coup.
6s, 5-20s, 1868.
reg.
5s, 10-40s
5s, 10-40s
coup.
5s, funded, 1881.... coup
44?, 1891..
reg.
coup.
44s. 1891
6s, Currency

Amount July 1.:
,
Range since Jan. 1, 1877—.
Lowest.
Registered.! Coupon.
|
Highest.
110* June 11,111* Jan. 17 $193,830,400 $
88 905.950
111* Mch. 11115* May 26
18,801.200
1,386.700
107* Feb. 28'1114 April 24
5 111* May 17
69,568,55(1 133,088,500
1U6* July
5 1144 May
97,► 89,750 212,732,000
104* July
15,6*5,000
21,808,800
112
1174 Jan.
July
142,010,450
114* Jan.
109* Mch.
52,555,850
114* Feb.
110* Mch.
219,135.650 289,304,700
112* Jan
109* Mch.
109
April 17
90,649,5,0
105* Mch.
109
49,350,500
May 17
106* June
\2hVo Mav 29
64,623,512
121* Jan.

reg.

Closing prices of securities in London have been as

JULY 13, 1877-5 P. M.

Market and Financial Situation.—The

-

,

clem
clem
dem
dem
dem
dem

5
10
6
10

period.

coup..-1 an. & July. 113* *112
May & Nov

July 12
On
On
On
On
On
On

July 18

Hope Fire

Knick* rboeker Fire
Lamar
Lenox Fire
Manhattan Fire
Manufacturers’ & Builders’ Fire...
Merchants’
New York City Fire
Peter Cooper Fire
Standard Fire
Sun Mutual
Tradesmen’s Fire

July 17
July 2
Juy z
Aug. 1 July 22 to Aug. 1
July 2

5
5
5
5
5
5

*

Tli© Money

Books Closed.

tDays inclusive.)

July
11.

Jnly
L

Int.

6s,1881

No National banks

[VOL. XXV.

U. S. 6s, 5-20s, 1867.'.
U. S. 5s| 10-408
New 5s
New 41* per cents

June
29.

July

July

6.

13.

106*

106*
109*

106*

109*
108*
105*

108*

*107*

105*

110
106

follows:

,—Range since Jan, l, ’77,—•>
Lowest.
I
Highest.
June 25!
107* April 17|
105* April 251
102* May 16*
106

110* Feb,

6

110* Feb. 6s
109 July 11
106 July 11

tf

prin¬

State and

Railroad Ronds.—LouiSianas have been among

the most active State bonds,

and

are

quoted to-day about 79@79£.

have been tbe widely dis¬ Alabama consols, class “ A,” have been rather strong at 41f@43.
tributed demand for government bonds from small purchasers, The Alabama &
Chattanooga endorsed bonds will now be
and the stronger tone for railroad stocks and bonds,
exchanged for new bonds, class “ C,” at Montgomery. SojLth
JTlie buyers of government securities in this city have been Carolina consols are neglected at 68£@69f, as the investigating
board will not send a sub-committee to this city, but will meet
greatly stimulated in tlieir action by the operation of the savings
in Columbia, S. C., August 1, to examine tbe consol bonds.
bank law, which bears heavily on weak institutions and induces
Virginia consols have been weak, and fluctuated from 72 to 63,
depositors to withdraw their deposits. The reduction in rates of closing about 6G, this movement being based on the letter of
interest to be paid by the savings4banks hereafter, also furnishes
General Malione, who is seeking the position of candidate for
another inducement to their depositors to invest in governments, Governor, and advocates a new “ adjustment ”of the debt, which
is usually popular with many of tlie lower classes.
as the difference between the rates of interest received is nar¬
The fiscal agent of the State of Pennsylvania, in Philadelphia,
rowed down and leads them to prefer tlie government bond which
has been notified by the State Board of Sinking Fund Commis¬
js looked upon as absolutely safe.
Subscriptions to tbe new loan sioners to redeem on the 1st of October $250,000 of tli9 6 per
cipal points in the markets this week

have been

liberal, but it is impossible to estimate the amount

cent. State loan.
On tlie 1st of August there will also be
likely to be taken at par before the opportunity expires on the redeemed $250,000, of which notice lias already been given to
16th.
In London, the books for subscription were opened on tlie holders of certificates.
There 13 yet outstanding nearly
loan,
$3,000,000
of
this
which
will be redeemed as rapidly as the
Thursday, at 102f, or about equal to lOOf iu gold here.
allow.
Treasury
funds
will
On Thursday the Bank of England statement showed an
Governor Hampton of South Carolina is said to have obtained a
increase in bullion for the Avetk of £731,000, and the discount
loan, for his State, of $100,000 while in this city, payable after
rate was reduced from 24 per cent to 2 per cent.
The Bank of the collection of taxes.
In Boston, July 7, the auction sale of $250,000 city of Boston
France showed a decrease of 35,300,000 francs in the week.
water bonds attracted a good attendance, and the whole lot was
The last statement of the New York City Clearing-House
disposed of in a few minutes. The bonds bear 5 per cent,
banks, issued July 7, showed an increase of $708,700 in tlie ex¬ interest, and are payable in gold in 1906. The first bid was 108,
cess above their 25 per cent legal reserve, the whole of such
and the bidding soon ran up to 111, at which rate $7,000 were
sold. The remainder of the lot was sold at 11 Of to llOf.
excess being $21,899,150, against $21,190,450 the previous week.
Railroad bonds have been more active and generally stronger
The following table shows the changes from the previous
on an improved demand.
The Stock Board lists show consider¬
week and a comparison with the two preceding years :
ably heavier sales, and tbe demand for re-investment of July
1877.
1876.
1875.
interest and dividends, is undoubtedly one of tbe principal
Jure 30.
July 8.
July 10.
Jnly 7.
Differences.
causes for the improvement.
The treasurer of the Philadelphia
Loans anddis. $251,655,600 $253,323,S00 Inc .$1,668,200 $255,653,300 $230,866,800
and
Railroad
Company
Reading
announces his readiness to issue
17,4 3,000
21,259,300 Inc. 3,806 300
8pecie
23,650.600
16,937,300
Circulation
15,643.200
15,558,100 Dec.
85,100
15,563,600
18.854,800 the income mortgage bonds in exchange for the scrip certificates
Net deposits..
226,488,200 231.228.600 Inc
4,740,400 2)3,704,100 250,405,200 recently issued under the proposition made by tbe company tO'
60,359,500
Legal tenders..
58,447,000 Dec. 1,912,500
53,381,200 70,661,200 the holders of its securities. Mr. Olyphant, Vice-Pres’dent of
United States Bonds.—The leading feature in government
the Delaware and Hudson Canal Company, says that there is no
bonds is above referred to, namely, the large number of small truth in the report that the directors have authorized a mortgage
ot $10,000,000, but it is suggested that the matter may come
purchasers, evidently careful investors, who are placing their before the directors at tlieir meeting, July 18.
money in these securities at about 4 per cent interest, because
The Treasurer of the Chicago, Rock Island and Pacific Rail¬
they know of nothing better to do with it. The banking houses road Company says that over lour millions of the old 7 per cent.,
of the principal dealers have been full of these customers, pur¬ bonds had been exchanged for the 40-year 6s, up to yesterday.
Messrs. A H. Muller & Son sold the following at auction;
chasing all the different issues, except five-twenties of 1865, and
SHARES.
SHARES.
20 Broadway Ins
taking small lots in nearly all cases. The 6s of 1881 have been 12 Greenwich Ins
.217
307
20 Pennsylvania Coal
157
5 North River Ins
129
particularly in favor, as aleo the 6s currency and funded 5s of
4 Firemen’s Ins.
120* 2C0 Union Coneol. Mining Co. of
Tenn
for
$110
1881.
There could not be a better feature iu government bond
15 Bank of America
135
50 Williamsburg Gaslight Co.. 118-119
30 Bank of North America
81
26 New York Gaslight Co
dealings than this distribution of securities among small inves¬
126*
131 '
7 Mechanics’ Bank
25 N. Y. Prov. & Boston RR —125*
5 City Bank
210
tors; and even if we do not ever actually reach Mr. Jay Cooke’s
75 brew’s & Grocers’ Bk of N.Y. 60
200 Pacific & Ailantic Tel
39
BONDS.
Utopia of “a national debt a national blessing,” we may in jus¬ 4,0)0 Galena Silver Mining Co. of
$70,000 Texas Western Narrow
tice to that gentleman recognize this as the nearest approach to
for $400
Gauge RR. 1st mort
5.00J Sr. Louis Copper Co. 50c. per sh.
$2,0 0 St. L.
S. E. RR. 1st moi t.
7 Amer. Exch. isat. Bank
105
it.
The large operators have been doing little, and the bond
7s, gold, May, 1874, coupons on.
2531 Mechanics’ Naf. Bank
*...131
importers, finding the London market against them, have rather -13 N. Y. Equitable Ins
199
been buyers here than sellers.
Closing prices of leading State and Railroad Bonds for three
weeks past, and the range since Jan. 1,1877, have been as follows:
Closing prices have been as follows ;




,

..

.

....

Jolt 14,

do

2d series...

*82 %
*40

*108*
Missouri 6s, long bonds
District of Columbia, 3-65s 19*24 *77

Lowest.
42
18

*43*

*82*

18
*80

*41

*40*

106* ♦106

fund
8.hioY. &Cen.
Miss.,
& Hud. 1st,sink,
coup...

60

58

*61*

102* *102*

*ii5% *115* *116*
*120 ya 117% 118*

Pitt sb. Ft. Wayne & Chic, let
St. Louie & Iron Mt., 1st mort.
Union Pacific 1st, 6s, gold

sinking fund....

do
*

This

is

the price bid;

no

*84
119

83

cons.

*10l"

22%

June
Jan.
103* 92* Mch.
Jan.
105* 103
98
92* Mch.

81*

117

105*
97

Jan.

7
6

5

June 11
June 14
Jan. 2
Jane 19

June 29

June 29

May 10

Mch. 12

June 7

92

May 24
M ay 22

122

June 23

103* July 12
108* June 18

98* Feb.

The

daily highest and lowest prices have been as

6

made at the Board.

Monday. Tuesday.
July 10.
July 9.
20
20
*19% 20*
9* 10
8* 9*
*
100
100
100
99% *98
21* 22*
20* 21*
20%
53 * 56X
55 X
21
21V
20*
4S* 49*
47
94
93
91X
X 94*
93*
86 X 88
39*
85V
40X 48*
3i*
7
7
7
6*
6%
14
13
18* 13*
X
13V
\
sox 31V
30*
30* 8i*

Saturday,

11

Jan. 23 109* June 5
Jan. 2 80 June 21

Mch. 5 85
105* Mch. i 110*
Mch. 16 111*
106
80* April 11 93*
Jan. 26 j 88*
78
Feb. 28,112
106
Jan. 15 115
109
102
93* July
100
104*
May
118
Feb.
113
121
Mch.
114

*87

*101*

K8*|
96 !

sale was

28 45
Jan.
Feb. 281 44* June
Jan.
July 10

50

*107*
Central Pacific 1st. 6e, gold ... *109* 108
Chic. Burl. & Quincy consol. 7s *110 * 108* 109
87
85
86*
Chic. & Northwest’n, cp., gold
86
85*
86*
Chic. M. & St. P. cons. 8 fd, 7s
112
108* 109*
Chic. R. I. & Pac. 1st, 7s
1 '5
*113* 113*
Erie 1st, 7s, extended
93*
Lake Sh. & Mich. So.2d cons.cp *95

Michigan Central, consol. 7s...
Morris & Essex, 1st mort

Highest.

82* April 2j 82* Apr. 2
38
Jan. 16 45
Apr. 11
104
71

79

Railroads.

Central of N. J. 1st consol—

I

*43* 42* Feb.

*43

North Carolina 6s, old

Since Jan. 1, 1877.-—,

<

13.

*43*

Tennessee 6s, old
do
6s, new
do

July

June
29.

States.

Virginia 6s, consol

35

THE CHRONICLE

1877.]

July T.
At. A Pac. Tel.
Central of N.J

Chic. Burl.&Q
C. Mil. A St. P.
do
pref.
Chic. & North.
do

8

*W
20
53%
20 X
zux

46 X
92 V
85 X

pref.

C. K. I. & Pac.
Del. A11. Canal
Del. L. A West
Erie.... J.
Ban. & St. Jos

87*
6*

...

do

pref.

Harlem
Ill. Central...
Lake Shore...

13
29
*138
55

Michigan Cent
Morris&Essex
N.Y.Cen.&H.li
Ohio & Miss...
Pacltlc Mall
Panama
Wab. P.C. R’ts
Union Pacific.
West. Un. Tel.
Adams Exp...
American Ex.
United States.
..

140

•188
56
.*5V

140

98

98
3
65 V
5 *
9>
43 X
41 *

3*
65 X

85

Wells, Fargo.. *xS0

six
42*
68 V
94V
2*

41V
66*
93 Y

2*

20* 20*
•98
•8

59
95

4!V
41X

57 X

50

49* 5i*
41* 42
66
66*
92* 93 V
2% 2*
19* 20

*

4

42*

43 X

69
94

70*
3*
20V

3*

3*
66

65*

59
95 V
43 V

59*

59 V

96

96

61
96

43V

48*

43 X

•

4 X

*4l

85X

81

•

-

9* 10*
99* 100
21* 22*
55* 56*
21

40* 43

•

U

7
14

•:0

82

....

3*X 40*

*1S7X

59

f6X
48*

•

•.

30

•

96
44
•41

96

JY*
64*

fr

83

68

98*
3*
19V 20

92

8*

99

j*
64

3%

64

60* 61*

96* 9.i*
44*

96*

44

44
42
82

30
189

5>* 37*
48* 49*

57*
50X

64

10

7*

7

#I3%

sox sox

31

140

48*

92* 98*
83* 85*

7X

*13

43* 44
•40X 41X

•

47 *

40* 41*
68*
91* 93*
93* 94 X
•3
3
3X
3*
20
20* » 19* 20*
•
100
no*
3%
3*
3*
3*
65 X 65 X *63* 64
63
60
69
X
61X
96

•

55*
20* 20*

92* 93*
34
86*
87* 41*

38

7
•13
31

wu

54

47V 48V

43V 49*
93* 94
S6

20
9*

99V
21* 21*
54 * 55*
20* 21

22

68

94 V

65* 65*

20
9
99

20

■'0* 51X
41V 43*

20 X

2*

20

July 1$.

July l?

July 11.

58

58* 59
50* 51*

follows:
Frtduy.

Wednes’y, Thursday,

.

43

83

•so

•This la the price bid and asked ; no sale was made at the Board.
general tone of
Total sales this week, and the range in prices since Jan. 1,
and the improvement is ap¬
1876,
were as follows:
parently based on a better feeling:, and a hopeful view of the
W1 iole
Sales
prospect for railroad business in the last half of the current year.
of w’k. r——Jan. 1,1877, to date.—. year 1876.
The mortgage loan of the Delaware Lackawanna & Western Rail¬
Low. High
Lowest.
Shares
Highest.
road will also give strength to that company in the way of pro¬
Mch. 14 14* 22
Atlantic & Pacific Telegraph
1,166 15% Feb. 3 25
6
June 11 37* Jan. • 3 20* 109*
viding it with cash resources to meet ita> annual liabilities, and Central of New Jersey
5,672
Mch. 19 118* Jan. 26 112* 121*
595 94
although this mortgage might take precedence of the claims Chicago Burl. & Quincy
19.410 11
Apr. 12 22* Jn y 10 18* 46*
Chicago
Mil.
&
StT
Paul
against the company on leases and guarantees, it is undoubtedly
do
do
pref... 69,850 40* Apr. 23 56* July 10 49* 84*
expected by the managers that the means thus obtained will Chicago & Northwestern
Apr. 13 37* Jan. 23 31* 45*
4,250 15
do~
do
pref... 30,400 37% Apr. 23 58* Jan. 23 55* 67%
carry them over to better times when there will be no dilliculty
Chicago Rock Island & Pacific.. 22,151 82* Apr. 23 102* Jan. 22 98* 111*
in meeting all annual liabilities, and paying dividends again on
Delaware & Hudson Canal
41,084 25* June 13 74* Jan. 4 61* 125
the stock.
It was reported at one time in the maiket that the Delaware Lack. & Western
Jan. 13 64 * 120*
187,245 30* June 11 77
7% 23*
4* Apr. 2 10,* Jan. 22
5,59 1
proceeds of the bonds would be used in buying up a majority of Erie
7
2.160
Apr. 17 15* July 3 10* 22*
Hannibal & St. Joseph
the stock of the Morris & Essex Railroad, but this was not sub¬
do
do * pref
5,100 17 A:>r. 17 33* July 3 18% 33%
stantiated, and the stock declined.
135
Feb. 19 144
May 22 130* 145
Harlem
The general stock market is in a somewhat peculiar situation,
Illinois Central
9,304 40 Vi Apr. 2 60Vi Jan. 5 60* 103%
Apr. 23 57* Jan. 23 48% 68*
‘.
211,200 45
and doubt as to the future unquestionably exerts an influence in Lake Shore
29,163 35* Apr. 2 50% Jan. 23 84* 65%
Michigan Central
106
depressing the prices of some of the best stocks. Several of Morris & E-sex
62,4 3 51V June 13 92Vi »an. 12 81
117%
these are selling at low prices, even on the assumption that they N. Y. Central & Hudson River.. 69,511 85* Apr. 23 104* Jan. 20 96
5
24*
Ohio & Mississippi ....•
4,600 2* July 7 7* Jan. 6
can maintain dividends of only 0(o)7 per cent per annum—such,
Pacific Mail....*..*
6,964 12* Apr. 3 26* Feb. 20 16* 39*
for instance, as Rock Island, New York Central & Hudson, and
140
15 > 80
Apr. 3 130 Mch. 1 122
Panama
8* Feb. 2
Vi June 30
Chicago & Alton, which have not yet passed their regular 8 per Wabash Receipts
4,03V
Mch. 2 57* 74%
820 59% Jan. 15 73
cent a year.
But in view of the decline in railroad stocks within' Union Pacific.*.
78
Jan. 22 63* 80%
56
Apr.
4
Western
Union
129,350
Telegraph.
the past twelve months, the public asks the question—Has the
114
Jan. 27 100
262 91
Apr. 23 V 5
Adams Express
67
bottom yet been reached?
Whenever this can clearly be an¬ American Express
258 43* July 3 60* Feb. 5 55

Railroad and miscellaneous Stocks.—Tlie

the stock market has been stronger,

...

..

roads, it may be
anticipated that the stocks of such companies will advance
sharply. A full statement of railroad earnings for the month of
swered in tlie affirmative

as

to any or more

June and for six months of 1877 will be found on another page.
Total sales of the week in leading: stocks were as follows :
D<d & II. Lake West’n St.Paul Morris Del.L. N. Y. Rock
Canal.

July
fcl

7

9..

l(

10

44

11
12
13

44
44

...

Total..
Whole stock

..

Shore. Union.
7.100
26,315

2,903 45 3 JO
8,8(50 35.0:0
30,400
45,455
9,524 28 700

pref.

& Es.

& W.

16.175

2.416

3,600
15,5013
43,810

9,700

17,275

8.312

3*2, H 00

13,850
8,150
5,(550
8,750

12,045

35,600
31,503
12,650

6,400
17,710
15,520

Cent. Island.
1.600
8,662

34 080

10.192
8.150

7,480
3,460
2,830

46,930
43,325

13,082
11,425

3,561
3,2 i0

41,034 211,200 129,350 69,850 62,4°3 187.245
200,000 494,665 337,874 122,744 150,000 262,000

18,000

69,511

22,151

894,283 249,997

The total number of shares of stock outstanding ig given in
the last line, for the purpose of comparison.
The latest railroad earning’s, and the totals from Jan. 1 to latest
are given below.
Tlie statement includes the gross earn¬
ings of all railroads from which returns can be obtained. The
columns under the heading “ Jan. 1 to latest date” furnish the
gross earnings from Jan. 1, to, and including, the report mentioned

•

190

United States Express
Veils, Fargo & Co

10

-Latest

earnings reported.
187;

Atch. Top. & S. Fe .Month of June..
Bur.& Mo.Riv.inNeb.Month of April..
Bur. C. Rap. & North.Moirh of June..
Cairo & St. Louis....3d week of June.
Canada Southern.
Momli of June..
Central Pacific.. ....Month of June..
..

Chicago & Alton
1st w’k of July..
Chic. Burl. & Quincy.Month of April..
Chic. Mil. & St. Paul.. .1st w’k of J uly..
Chic. R. I. & Pacific..Month of April..

.

Clev. Mt. V. & D.,&c..Month of June..
Denver Pacific
Month of May...
Denv. &Rio Grande...Month of June..
W'k end. June 30
Grand Trank
Great Western
W’k end. June 29
Hannibal & St. Jo
Month of May...
Month of May..
Illinois Central
Do.Ia.leased lines..Month of April..

Indianap. Bl. & W.. .Month of June..

Int. & Gt. Northern. .Month of June..
Missouri Pacific
Month of June..
Mo. Kansas & Texas..1st w’k of July..
Mobile & Ohio
Month of May..

ft.t.L.A.&T.H.(brchs).Month
Jos. & Western. ...2d weekofofJune..
June.

i 177,500
50,709
69,357

,

1876.

Jan. 1 to latest date.
1877.
1876.

$186,641 $1,028,440 $1,045,803
51,724
100,700

208,360

212,985

428,649

589.235

118,699
119,750
6,283
832,881
967,626
111,008
1,391,000 1,646,269 7.7 0,000 8,026,945
72.264
82,083 2,107,546 2.32?,7r9
960.19S
892,370 3,496,782 3,536,703
166,045 3.032,460 4,126,562
123,000
506,431 2,138,484 2,099,501
615,177
184.185
184,200
33,650
35,196
126 849
29,714
29,614
56.843
41,051
*302,1360 *203,659
181.461
181,072
5.802
150 236

65,588
162,719

73,474
141,2^9

762 659

763,276

353,905
99,998

471,595

1,819,255

2,168,8:3

85,090
73,600
319,417
59,726

129,090

579,396
6=8,027

769,531

93,401

4,658
34,867

127,985
64.948
303,126
30,616
101,542
5,544

37,282
55,2 7

1,807,458

566,868
1,751,929

1,4*0,660 1,448,456
767,694
737,900
151.304
161,034
237 693

235,524

2.036,039

1,774.613
1,545,944

St.L. I. Mt. & South..1st week of July.
St L. K. C.& North’n..1st week of Jnlv.
St. L. & S. Francisco..Month of June"

73,700
41,232
97.778

106,612

1,452,454
612,542

St,L.&S.E’n(StL.div.)3d w’k of June.
(Ken.div.)..3d w’k of June.
(Tenn.div.).3d w’k of June.

;1,733

13,647

265,161

269.913

6,753

6,214

135,323

143,3130

2.677

2,278

66,152

37,'27
18,10S

46 508

67,373
208,549

Tol.Peoria&Warsaw.Month of June..
80,010
Union Pacific
Month of April.. 1,08',280
58,370
Wabash
1st week of July.

135,928

167,299
92,078
498,504

.

“

St. Paul & S. City
Month of May .
Sioux City&Sf.Paul..Month of May..

4 6,1'8

27,864

1,054,188 3.782,247
58,300 2,034,634

Fignres this year embrace Trinidad extension, which was not
tion until about the close of May, ’76 ; for the first five mouths of
*

therefore, the comparison was with a smaller mileage in 1876.




611.310

130,851
693,385
3,2S9,664
2,187,653

in opera¬
the year,

Apr. 27
Apr. 23

8 49* 76%

59% Jan.

June

90

91

79

5

'I’lie Gold Alar Ret.—Gold liag been very quiet on moderate
fluctuations.
There is scarcely a new point in the market,
with the lower rates of exchange; exports have fallen off.
To¬

and

day, the price opened at 105£, and closed at 105f, with all the
sales of the day at these figures.
The borrowing rates were
1, 2, 3, H aud 2^ per cent. Loans were also made flat.
The following table will show the course of gold and gold
clearings and balances each day of the past week:
Saturday, July
Monday,
“
Tuesday.
Wednesday, “
Thursday,
“
Friday, ,
“

■Quotations
Op’n Low. High Clos.
105* 105* 105* 105*

7....
9.... 105* 105* 105* 105*
10.... 105* 105* 105* 105*
11
105* 105* 105* 105*
12.... 105* 105* 105* 105 V
13... 105* 105* 105* 105,*

Total

105* 105* 10* %
Previous week.
Jan. 1 to date...

10.5* 105* 105* 105*
107*1104* 107* 105*

Balances.

,

,

Gold.
Currency.
Clearings.
$12,244.<XF $1,423 9'2 $1/57,673
12.465,000 1,046.635. 1,093.420

10,974,000
11,9i3,000
18,437.000
16,262,000

...

dates,

in the second column,

36
82

920 266

873,-700
1,201,247
1.515.598

1,258,568

1,170,000

1,864,342

1,642.336

$
$82 295 00(1 *
79,968,000 1,046,403 1,103,156
~

The following are the quotations in gold for foreign
American coin:
Sovereigns
$4 87 ® $4 91 ! Dimes & half dimes. — 94*® —
Large silver, *8 &*s — 94*® —
Napoleons
3 87 @ 3 92
— 93
® —
Five francs
X X Reichmarks.... 4 75 ® 4 80
Mexican dollars.
— 95*® —
X Guilders.
3 90 ® 4 10
English silver
4 80 ® 4
Spanish Doubloons. 15 60 & 15 90
Prussian silv. thalers — 65 ® —
Mexican Doubloons 15 50 ® 15 60
Trade
dollars
—
95 ® —
Fine silver bars
117*®
118Vi
Fine gold bars
par®*prem.

Exchange.—Foreign exchange has been

and
94*
94*
95
96*

85

70
96

weaker on a small

few bills, and as the bond
importers have not-been buying lately, the sale of any considera¬
ble amount of exchange was next to impossible. Even the mod¬
demand.

The merchants want very

of bills drawn by insurance companies for losses
by the St. John fire, have been sufficient to exert a depressing
influence.
To-day, on actual business, rates were about 4.86£@
4.86^- and 4.88@4.88L
In domestic exchange the following were the rates on New
York to-day at the undermentioned cities: Savannah, buying 3 16,
selling 5-16; Charleston, -£@1 premium; St. Louis, 90 premium;
Cincinnati, steady, buying par, selling 1-10; New Orleans, com¬
and Chicago, 75 premium.
mercial
bank
Quotations for foreign exchange are as follows:
erate amount

July 13.
60 days.

Prime bankers’ sterling bills on London....
Good bankers’ and prime commercial
Qood commercial

Documentary commercial.
Pans (francs)
Antwerp (francs)
Swiss (francs)

Amsterdam (guilders).

Hamburg (reichmarks)
Frankfort (reichmarks)
Bremen (reichmarks)
Berlin (reichmarks)

l.86*®4.87
i.85*®4.£6*
l.84*@4.S5
(.84 @4.84Vi
>.16*®5.14*
>.16*®5.14*
>.16*®5.14*
40*® 40*
94*® 95
94*® 95
94*® 95
94*® 95

3

days.

4.88V®4.89
4.8?*®4 88*
4.86 * ®4.87
4.86 ®4.86*
5.13*®5.12V4
5.13*®o 12*

5.13*®5.12*
4<)*®

40*

95*®
95*®
95*®
95*®

95*
95*
95*
95!

New York

City Banks—The following statement

Banks of New York City for the
ending at the commencement of business
on July 7. 1877:
-AVERAGE AMOUNT OP--■
Loans and
Discounts.

Capital.

Banks

Mechanics’
Union
America
Phcenix

28,700
7,500
154,000
139,000

1,000,000
Fnlton
000,00-0
300,000
Cnemical...
Merchants’ Exch. 3,000.000
Gallatin National l,5u0,000
500,000
Bntchere’& Drov.
^Mechanics’ & Tr.
600,000
&0,000
Greenwich
Leather Monuftrs.
600,000
Seventh Ward....
300,000
State of N. York.
800,000
American Exch'e. 5,000,000
Commerce
10,000,000
....

....

1,000,000

Broadway
Mercantile
Pacific

1,» 00.000

Republic

1 500,000

422,700
450,000

Chatham

412,500

.

North America...
llanover

1,000,000
1,000,000

Irving
Metropolitan

500,000
3.000,000

Citizens’
600,000
1,000 000
Nassau
Market.
1,000,000
St. Nicholas
1,000,000
Shoe and Leather. 1,000,000
Corn Exchange... 1.000.000

I,250,f00
300,000
'400.000

Continental
...

Importers’&Trad. 1,'00,060

2,000,000

Park

Mech. Bkg. Aes’n.

.'00,000

Grocers’
North River
East K ver
Manuf’rs’ & Mer.
Fourth National..
Central National
Second National..
Ninth Nationil...
First National....
Third National...
N. Y. Nat. Exch..
Tenth National

300,000
40 ,< 00

.

.

636.500
9 8,300
234.200
15,000
141.700
648.200
98,900
24.700
841.800
350,000
512,600
127,600
2,500
c44,900
1<0,0 0
755.100 2,671,100 11,965,%,) 1,050,300
3,750.< 00 13,616,310
220,000 1,919,0:0 7,122,000 1,299,000
2,000,000 7,373,000
v 51,000
427,000
1,910,000
1,933.000
300 000
630,800
125.700 1.514.500 5,054,200
1.500,00)
5,358,000
270,00)
6.727,00*)
4.797.400 1,23:, 200 1,631,90.)
500,0 0
991.700
49,400
6.507.900
1 ,< 0>.03)
5,276,200 1,246,000
*268,700
244.700
711,000
1.073,800
32,20)
300.000
441,600
336.200
989,000
33,500
1.352.700
.'00,<00

2,100

New York County
German American

200 0 0
1,000,000

1.105.600
l,lt-0, !00
2,601,000

216.000

293,100

Dry Goods

1,000,000

821.100

6,90J

334.400
612,800
531,509

Boweiy National.

1,10<>

270,000
349,000 2,928,000
621,000
2,834,000
5.964.100 1,194.500 1,878,000 5.945.800
768,800
225.500
1.741.700
200,000
3,2-^5,000
791.400 1.314.500
172,100
1,331,260
749,600 3,040,400 10.657,000
10,012,800
611,100
570.400 2.670.300
116,900
3.639.100
668.100
41,000
2.573.300
466,400
3.617.400
83,000
286,000 1,201,000
62,000
1,.377,<00
942.200
194.200
218,000
24,700
1.728.800
902.800
2,700
218,4u0
838,500
245.200
610.600 2,704,400
284.200
2,818,600
36.500
232.500
915.500
895.100
62,9(0
267.600
45,000
1.899.100
357.200
1.933.600
228,000
460,000 3,180,000 10,968,000
13,334,000
8.748.200 2,456,100
713.700 6,246.8*0
16,692.000
899.200
4'8,200 2.969.500
4 856,100
62,800
449.600
45,000
2.916.300
216,600
3.169.400
468.700 2,( 68,500
40.400
2.118.700
404.000
450,000
2.423.100
373.800
3.345.600
272,000
667,0 0 3,305,000
322,900
3,036.400
1.227.800
1S1,830
5,400
17,300
1,343,6(0
100.400
391,000 1.762.300
2,030.100
287, i6o
704.200
3.596.700
191,3(0
4,069 500
75,000
720,000 2,1*20,000
13.400
1,906,0.0
18,000
11,754,600 1,153,000 1,986,UOO 11,391,000
133,500
1.777.200
473,100
48.200
1,579,900
8 8,000
3,900
3)1,500
1,992,40*1
2,100,500
1,703,600
202,900
199.500
303.400
2,491V 00
494,300
56.600
586.200 1.263.500
2,061,900
418 200
68c,<0)
3.171.800
1<2,100
4,056,900
4,800
102.800
985,000 2.236.200
3,19!,000
608,000
59^,600
2.454.500
3,136 700
118.701
339.400
l.:3%£00
11.200
1,198,00)
227,700
1,809,000
313.500
148.100
1.778.400
790,41)0 3,;. 86,000 17.125.600 1,089,900
16,320,5 0
<0,000
787.100 3,^33,000 14,416,000
11,224.300
211.0.0
302,060
7*6,< 00
14,200
836.800
071,700
127.600
5,-0)
780,< 00

1,000,000

City

People's..

$

$

8

$

$

1,000,000

Tradesmen’s

tion.

Specie. Tenders. Deposits.

3,000,000 10,8t5,4f0 3,038,000 1,072,000 11.435.600
616,800 2,154,400 6.498.500
2,050,0.0 6,<>62,500
3,000,000 7.955.400 1,010,100 1,668,200 7.276.700
873.600
5.240.900
435,300
2,000.000 6.769.800
3,823,610
940.U 0
437,500
1,500,000 4.554.100
3,000,000 8,8<i2,400 1,271,600 2.128.500 7.974.200

New York
Maihattan Co...
Merchant s’.......

week

Circula¬

N£t

Legal

250,000

BOSTON, PHILADELPHIA,

shows the

condition of the Associated

Oriental
Marino

[VOL. XXV.

THE CHRONICLE

36

225,000
180,000

672,000
1.203.300
2.733.700
493.800

Bid.

SECURITIES.

Ask.

BONDS.
Renna. 5s,g’d, int ,reg. or cp. 103
107
do
5s, cur., reg
do
5s, new, rog., 1892-1902 107
do
6s, 10-15, reg., l»77-’82. 101%
do
6s, 15-25, reg., 1 m-^2. 109%
105
Philadelphia 6s, old, reg
111
do
6s, new, reg
Allegheny County 5s, coup...
Pittsburg 4s, coup., 1913
do
5s, reg. A cp., 1913.
do
6s, gold, reg
do
7b, w’t’rln.reg.&c
oo 7s, str. Imp., reg., %3-3t>
N. Jersey 6s, exempt, rg.&cp.
Camden County bs, coup
Camden City 6s, coupon
do
7s, reg. A coup
Delaware 6s, coupon
Harrisburg City os, coupon..

100
107
104
loo

102
110
U-7

HIM

do

104
1-1

do

*4
34%
36
43

45%

Nesquehonlng Valley

90
40
..

.....

30

6%
30

Loam

Inc

Specie

Iuc

.

51,688,200

3,606,300
1,912,500

.

Legal Tenders ........Dec.
The

following
Loans.

are
,

L. Tenders.

Specie.

$250,754,400 $19.84),.r>0 >
251,673,000 19,4)1.700
250,687,500 18,352.100
2:0,116,5>>0 16,209,000
251,655.601 17.453,000
July 7.. 253,323,801 21,259,3%

4..

11.
18.
25.

85,100

Dlc.

Deposits. Circulation. Ag". Clear.

56,363.600
59,255,600
60,359,500
58,447,000
were as

2:2,665,800 15,971.0% 389,281,258
223,316,100 15,765,600 365.625,91^
22*1,489.200 15,643,200 327,793,v2i

231,228,600 15,553,100 345,922,95*}

follows:

L. Tender-1. Deposits. Circulation. As'j. Clear.
$124,432,301 $1,990,509 $7,149,600 $51,946,800 $23 004,50) $38,059,9'«1
42,455,112
51,163,•.’<)( i 23,297,6(0
1,923,301
7,135,201
130,777,700
Specie.

113
113

J.,
J

RAILROAD STOCKS.

Par.

Delaware Division
Lenigh Navigation.

18%

Moms
do
pref

119

Balt. A Ohio 6s, 1880, J.&J....
do
6s, 1885, A.&O. .
N. W. Va. 3d m..guar.,’85,J&J
§4U
Plttsb.&
ConnellBV.78,’98,J&J
37
Northern Central 6b, ’85, J&J
46
6s. 1900. A.&O.
do
47
do 6s, gla, i960, J.&J.
91%
Cen. Ohio 6s, l8tm.,’90,M.& S.
42
31% W. Md. 6s. 1st m., gr.,’90,J.& J.
do
1st m., 890, J. & J...

PeHnsy>vanla
Schuylkill Navigation
do

V2j

..

0%

7%

10-f"

106%

pref...

Su8quehanua.
RAILROAD

BONDS.

Allegheny Vui., 7 3-iOs, 1S9 * ..
Jo
7s, E. ext., 191(
do
inc. 7s, end.,’U>.
Belvidere Dela. 2d in. 6s. ’8 >..
Sim. 6s,’37..
do
Camden & Amboy 6s, ’cS.
do
6s, coup.,’Sf
Jo
mort. 6s, ieg.,’8t
Cam. & Atl. 1st in. 7s,g.,i9jS
do
21 m., 7s. cur..’6
Cam. * Burlington Co. 6s.*97
Catawissu 1st, 7s. conv., '-2..
chat. m„ 10?, ’88
do
do
new 7s, i9%
CayugaL. 1st m.,g..7s. 1901*..
Connecting 63, 1900-i904
Dan. H.& Wilks.,1st.,7s,’37*.
Delaware mort., 6s, various.
D-d A Bound Br., 1st, 7s. *905
East IVnu. 1st mort. 7s, ’88
Ei.& W'msport, ittm.,7s, ?80

86%
44
102

92
48

103

98

99%

L05
L02
108

iob%

95
102

iob

22%
100%
101% 100
93%
100
100
81

98

*85
90

105
r-5

90

105

WASHINGTON.
District >f Columbia.
Perm. Imp.6s, g., J.&J., .891.
do
7s, 189 i
Market Stock bonds, Ts, 1892.
Water Stock bonds, 7s, 190...
do
do
7s, 1903..
Washington.
Ten-year bonds, 6s, ’78
Fund. Joan (Cong.) 6s, g., ’92.
do
(Leg.) 68, g., >902.
Certlfs.of Bt’ck (1828) bs, at pi.
do
(1843) 6s, at pi.
Cbee.&O.st’k (’47) 6e, at pi...

80
33

803d

11%

154

.13%

14

100
100
100
100
100

10 i
101
102
lost
102

90
100
x98
70
90
85

93
102
10O

96
85
83
85
98
98
98
35
90

100

70
95

Georgetown.
General stock,8s,

881....

6s, at pleasure

do

Market stock. 6s
do
Board of Public Works—
Certifs. gen. Imp. 8.-,’77-78
do
berles
Certifs. fewer, 8b, ’74-77...
Water certilicates, 8s, ’77...

103

■93%

101

Baltimore Gas certilicates...

Bounty stock, 6s

102%

100
100
100

45
101

CINCINNATI.
Cincinnati 6s

1st m., 58,perp.

103
liar; isburg 1st mort. 6s, 83.
H. & B. T. Ut m. 7s, gold, ’90
do
‘2d in. 7s, gold, ’95.
do
3dm. cons. 7s, ’93*. 30
Ithaca& Athens lst,gld, 7s.,’90 103
Junction lit more. 6s *82
do
2J mort. 6s, 19.0 ...
107

Lehigh Valley, 6s coup.. 1898.
do
bs, l eg., 1893...
do.
7s, reg., 1910...;
do
con. m., 6s,rg.,1923
Little Schuylkill, lat in. 7>,’’*7
Nun hern P»c. 7 3-l0s, cp.,1900*
North. Penn. 1st m. 6s, cp.,’85.
2d m. 7s,cp.. 96.
do

13

People’s Gas

do

104

92

BONDS.

6

If6

91%

Central Ohio
50
Pittsburg A Connellsville..50

31%
Pennsylvania
Philadelphia* Erie
do
2d m.,guar., J. & J —
12% 12%
Puiladeiphia & Read ng
2d m., pref
do
Philadelphia A Trenton ....
do 2d m.,gr. by W.Co.J&J
Phila.Wilming. * Baltimore.
do 6s. 3d m.. guar., J.& J.
6
6%
Pittsburg Titusv. A Buff
129% 130% Mar. & Cin. 7b, ’9i, F. A A ...
United N. J. Comp mles
do
2d, M.&N..
55
West Che-ter cousol. pref....
do
89,3d, J. & J
West Jersey
Union RR. 1st, guar., J. & J..
CANAL STOCKS.
do
Can on endorsed.
Chesapeake * Delaware
MISCELLANEOUS.

do

$ 5,899,700 $223,481,660 $16,143,7m) $333/3 ',818
55,078,U 0 -.23.738,500 16,162.000 404.145,247

Hanks*—Totals

Loans.

June
June
June
June

Inc. $1,740,400

Deposits

Circulation

tlie totals for a series of weeks past:

June 2..
Jane 9..
Jane 16.
Jane23.
June 30.

Boston

Net

113% 113%

Balt. & Ohio
100
do
Waeh. Branch.lt’0
do
Parkersb’g Br..50
Northern Central
fO
Western Maryland
56

RAILROAD

..

74,235,200 253,323,800 21,259,300 58,447,000 231,228,000 15,558,100
The deviations from returns of previous week are as iollows:

Total

112

...

6b, park, lb90, Q —M.
6s, 1893, M.& S... 112%
6s, exempt,’iS.M.&S. 113

do
I960, J. &
do
190£, J. A
Norfolk water, 8s

40

Jiinehill

68, exempt, 1887

do

52

60
05
40

do
6s,)890, quarterly., 109
do
5s, quarterly.
Baltimore 6s, 1S8I, quarl
do
111%
68,1866, J.&J
do
6s, 189j, quarterly, 112%

2*2

Huntingdon* Broad Top...
do pref.
do
Lehigh Valley
Little Schuyiklli

50
52

BALTIMORE.

! 10

30
23

89%

52% 53'

2d m. 6s. 190*
m.6s, ’95
6s, Imp , ’80 .
6s, boat A car, 1913
7s, boat & car. 19.5
Susquehanna 6s, coup.. ;9.8..

ao

107
100

5

do
pref
do
new pref
Delaware a Bound Brook....,
East Pennsylvania
Eimira A Williamsport
do
do
pref..
Har. P. Mt. Joy a Lancaster.

62
88

do
do
do
do
do

Maryland es, dt-fense, J.& J..

84

15
25

....

Catawlssa

Norristown
North Pennsylvania

107%
107>s

i‘00

RAILROAD STOCKS.

Camden A Atlantic
do
do
pref

104

82
106
91

Bid. Ask.

SECURITIES.

Pennsylvania 6s, coup., 7910..
Schuylkill Nav. ist m. 6s, ’97.

PHILADELPHIA.
STATE AND CITY

Etc*—Continued.

105

40
104

do

78

QO

7’808
t
South. RR. 7’30s.t
do
6s, gold t

do
do

Hamilton Co., O., 6s.
ao

do

long...+

7b, l to 5 yrs..t
7 & 7'SOs, lODg.t

Cin.& Cov. Bridge st’k, pref
Cin.Ham. & D. 1st m. 7s, ’80
do
2dm. 7p,’o5..
111
89% 90% Cin. Ham. & Ind., 7s, guar....
Cin. & Indiana :st m. 7s
do
2d m. 7s, ’.7...
Colum. & Nenia, 1st m. 7e, ’90
108% 109

108%

108
110
112

Dayton & Mich. 1st m. 7s. ’81.
do
2um. 7b, ’34.
do
3d m. 7s, ’8s.
1,9*4,200
Dayton & West, lstm., ’8R..t
July 2..
do
1st m., 1905
2,429,503
Jn)y 9..
go
1st m. He, .905
were as
Philadelphia
105% Ind. Cin. & Laf. let m. 7s
Pennsylvania, 1st rn., cp.^O. 105
do
(I.&C.) I6t m.7s,’88
106
Loans.
do
gen. m. ns, cp.. 19.0 105%
Specie. L. Tenders. Deposits. Cirm’ation. Ag::. Clear
Little Miami 6s, *i3
!%s% Cin.
do
net. m 6s, -g., 19 0. 108
Jane 4.. $62,15’1,339 $1,248,00) $19.6 8,037 $5-,032.771 $10,515,7% $32,684,457
Ham.
A Dayton stock...
92
93
do
i g.t 1905
cons, m 6
36,7*0.310
57,9 3.914 10, >79,3‘> >
Columbus & Xenia stock
June 11.
1,330,880 19,781,864
62,408,063
do
cons.
m.
6s.
1905.
cp.,
32,88*,5
57,864,933 1“, 447,845
June 18.
1,395.983 20,117,424
Dayton & Michigan stock....
62,391,8%
Pen iomen 1st m.8?,coup.,*97
do
8. p.c. Bt’k.guar bH
3 ,982,196
1.3IV724 20.035,552
57,*83,644 10,437,423
June 25.
102*
62,492 288
PiiiU. a Erie istm.Os, cp., 8i 102
85
Little Miami stock
94
29,489,-88
51,868.517
in,444,316
6
19,596,<>29
95%
2,86-,717
1,449,278
in
do
2d
7s,
i
p.,'b8
July 2..
100
104
38,031,071
10,465,7*28
57,440,620
19,086,133
Phila.
A
1,501,519
Reading
6s,
’t0,
63,244,399
July 9..
LOUISVILLE.
do
7s, * onp ,'93 107
Louisville 7s
........t 103%
89
do
deben., cp.,’93 37
do
6s, ’82 to *87
+ 10U
93%
do cons. ni. is, cp.,i9i‘. 93
do
6b, ’9< to ’94........t 100%
93% 93%
do cons. m. 7s, rg.,i‘J:i.
do
water 6s,’87 to ’89 t 100%
47
43
do new con. 7s,!c93 ..
do
water stock 6s,’97.t 100*
50
Bid. Ask.
Bid. Ask.
SECURITIES.
Phlla.& Read. C & 1. aeb. 7s.- 2
SECURITIES.
do
wharf 6s
t 100}
55
do
oo
7s. ’92-93.
do
6pec’l tax 6s of ’89.f 100}
Vermont a Maes, let m., 6s,*tC
Phila. Wl!m. A Balt. 6s, ’84
BOSTON.
Jeff. M.&l.istm. (i&M) 7fc,’8l f 100
*7?
Puts. Cin. * Sr. Louis 7s,.1'900 76
81 OCRS.
Ill
Maine 6s
111%
do
2dm., 7s
70%
Shamokin V.& Pott-*v 7s, 1901
Bo? ton & Albany
New Hampshire 6e
11494 115
....
do
1st ra.,78,19(6—t 100
St ubenv. & Ind. 1st, 6s. .884.
61
Boston A Dowel:
Vermont be
LouIbv.C.* Lex. let in. 7b,’97. 103%
Boeton & Maine
89 Y 00
Stony Creek 1st ui. 7s, 9J7....
Massachusetts 58, gold
Lou1b.& Fr’k.,LouiBV.ln,6s,’8: 100
101%
Boston & Providence
Boston
120% 120% guubury & Erie isi 111.7s, ’17 .
currency
Louisv. & Nashville—
United N. d. cons. m. 6s. ’94
Burlington A Mo. in Neb
do
5e,gold
Loulsv. In, (in. b.) 60,’86-87.+ 100
bt
100%
‘80
arren & F. 1st m.7s, ’9)
Cheshire preferred
'31% W
Chicago sewerage 7s
Leb. Br. 6s, ’86
t 9i
112
98**
Chester
cons.
7s,
’i)u
West
C.>n
•’do
i’11
Sandusky & Clev
l%
1%
Municipal 7b
971 st ra. Leb. Br. Ex.,7e,’80-(5.t 96
West Jersey 6s, oeb.,coup.,’8S
Portland *>8
{Concord
100
Lou.In.
do
6s,
102
do
:st m. 6s, cp.,’96.
Connecticut
■120
“rS
River
Alch. & Tcpeka let rn.Ts
‘b7%
Consol. 1st m. 7s, *98
92%
103% 105
do
1st ui. 7s, ’91
do
land grant 7s 7>
78% Conn. & PasBumpslc, pref..
8ft
Jefferson Mad. & Ind
70
Western Penn. hit. 6s, 893...
Eastern (Mass.).
3
4L*
do
2d 7s
3%
Louisville*
NaBhvi
Jo
80
do
6s P. B.,’96
2^% 95
do
lane Inc. 12s. 102% 102% Eastern (New Hampshire).
Louiavllle Water 6s. Co. 19071 98
Wilna. * Read, ^st in. 7s, i960*
Boston a Albany 7s
Fitchburg
..’ 104 105%
L.OGIS.
ST#
do
2d 111., >902*...
Manchester & Lawrence.
do
6s
St. Louis 68, lo> g
t 104
CANAL BONDS.
I Nashua & Lowell
‘bo
Boston & Lowell 7b
100
do
water os, gold
f 103
80
70
Chesan. & Dela 6?, reg., ’82..
Boston & Matne 7s
in 111% ’New York A New England...
do
do
new.t 107h>
do
Delawaie Division 6s, cp.,’78
Northern of New Hhiupthlre ‘65
Burl. & Mo., land crant. 7s.... 100%
do
bridge
appr ,g 6s t 107%
118
do
.Neb. 8s, 1894
120% Lehigh Navigation 6s, reg.,’84 101% io'i
106% iod% Norwich & Worcester
do
renewal, gold, 6s. + 107%
do
Kk.. ig..’9 101% 102
"
do
Neb. 8e,l383
Ogdensu. & L. Champlain ... 15
do
sewer,
g.
6s, ’9.-*2-3.t 107^
do
do
do
deb., rg.,’77
pref. *75
tw ~5\%
Eastern, Maee., 8K8, new.
St. Louis Co. Lew park,g.C.-.t 107% 108%
do
88
conv., 1 g. ’si
Hartford & Erie 7e, new
"88%
1%
9^ Old Colony
cur. 7s
do
t
94
do
cc nv.,g.t rg.,’94
Portland baco & Portsmouth 68
Ogdensburg & l ake Ch.8s...
To
87
do
87% St.L.& SanF.RR.bds, scr’sA
U«d Colony & Newportls, *77.
go>d, ’y7
Rutland, common
do
do
do
B
do cons, m 7s. rg ,191!
do
pi
eferred..
i 0
Rutland, new 7e
do
do
do C
Vermont & Canada
Verrn’c C. let m., cons. 7b, *86.
Morris, boat loan, reg., .885.. 107%

129,901,7* K)
130.946,000
131,088,200
131,65‘,000

1,852,200

1.763,v00

7,045,0)0
7,1:4,300
7,lv8,200
6,316,7%

Banks.—Totals

51.480,500
52,100,5- 0

23,: 71,300

23,291,500
52,517,400 23,104,300
53,736,100 23,672,1%

45,541,19!
41,004,0)8
43,310,039
51,514,098

follows

111
gen. m. 7s, cp., 1*.03 !04
103
gen. ill. 7s, rtg , 1908
Oil Creek itt m. 7s, coup.,’8:. 83
51
uittso. Titusv.ce B ,7s,cp..’lJ6
Pa.® N.Y.C.A P.RR.73, 96 tk>6 108%
do
d*>

112
106
105
85
52
109

—

,

,

QUOTATIONS IN BOSTON, PIIILAUSJPIIIA AND OTHER CHIPS.

...

...

....

....

....

...

.

:

..

-

...

....

....

do

Vermont.




2dm.. 7 s. 1891
&

Canada, new 8e

!••••
.

Vcrmon t& Massachusetts..

,W oicewer & Nashua

1106
!

40

*

In default cf interest.

t And Interest.

BONDS IN NEW YORK.
Price) represent the per cent value, whatever the par may

QUOTATIONS OF STOCKS AND
Bid. Ask.

gXOUBITLES.

88,1588

do

6a .funded.....
L. R. & Ft. 8.188
'

78.L.K.P.B.&N.O
Is, Miss. O. & R. R.
is, Ark. Cent. KR...
Connecticut 6s

di

101%
7s, new bonds.... 106*4

do

Is, endorsed. ...
7b,gold bonds...
Illinois6a, coupon, 1879...
do

do

do
War loan...
Kentucky 6s
Louisiana 6s
do
6s, new
do
6s, floating debt
do
7s, Penitentiary
do
6s, levee
do
8s, do
do
8s, do 1875 ....
do
8s, of 1910
do
7s, consolidated

7s, small

do

“■arftffl?.:::::::
7s, 1890
do

Missouri 6s, duo 1877..

..

'do
1878......
Funding, due 1834-5. . .
Long bonds, due ’32-’90.
Asylum or Un.,due 1893.
Han. & St. Job., due 1886.
do
do 1837.
New York Statedo

do
do
do
do
do
do
do
do

103
108

104
107
100
100
100
45
45
40
.45
40
40
40

79

79 X.

100%

100>tf
100
106

105*4
105%

106*4

88

coup. 7s, 1691
reg. 7,189*

’!!*

ao
1868
New bonds, J. & J
do
A. & O

Special tax, Claes 1

.*.!!

Ohio 6s, 1881

Bid.

SBOtTBITIKS.

Asirk

July
April & Oct
Funding act, 1866
Land C., 1339, J. & J
LandC., 1889, A. & O....

7s of 1888
Non-fundable bonds
Tennessee 6s, old

44

-

86*o

85%

•••

*7*0*

109% rm

adlanapolls 7.80s

118
•

•

do
new bonds....
Cleve. P’ville & Ash., old bds
do
new bds.
do
Buffalo & Erie, new bonds...
Buffalo & State Line 7s
Kalamazoo & W. Pigeon, 1st
Det. Mon. & Tol.Jst 7s, 1906.
Lake Shore Dlv. bonds
do
Cons. coup.. 1st.
do
Cons, reg., 1st.,
do
Cons, coup.,2d..
Cons, reg., 2d
do
Marietta & Cin. 1st mort.
Mich. Cent., consol. 7s, 1902....
do
1st m. 8s. .882, s.f.

4334

..

43*4

series.

Virginia—
6s, old
6s, new bonds, 1566
6s,
do
1867
6s, consol, bonds
6s, ex matured coup. ...
6s, consol., 2d series
6s, deferred bonds
District of Columbia 8.65s.

66
44

7W

79%

small.,
registered

.

Railroad Stocks.
(Active pre>i'usly quot'd.)

Albany & Susquehanna...
Central Pacific

62

do
equipment bonds.
New Jersey Southern lstm. 7s
do
do
consol. 7s
N. Y. Central 6s, 1883
do
6s, 1887
do
6s, real estate...
do
68, subscription,
do & Hudson, i st m., coup
do
do
lstm., reg..
Hudson R. 7s, 2d ni., 6.f., 1885
Harlem, 1st mort. 7s, coup...
do
do
7s. reg....
North Missouri, 1st mort
Ohio & Miss., consol, sink. fd.
do
consolidated....
do
2d do
....
do
1st Spring, dlv..
Pacific Railroads—

69

'82*4 *84

Chicago & Alton

pref

Cleve. Col. Cln. & I.
Cleve. & Pittsburg, guar..
Col. Chic. & I Cent

Dubuque & Sioux City.

.

100
25

102
26

80% 81%
42

Erie

pref
Indlanap. Cin. & Laf
Joliet & Chicago
Long lslund

Missouri Kansas & Texas.
New Jersey Southern
N. Y. New Haven & Hart. 149

Ohio & Mississippi, pref
Pitts. Ft. W. & Cn., guar..
do
do
special.
Rensselaer & Saratoga,...
Rome & Watertown
Bt. Louis Alton & T. H....
do
do
pref.

89

‘.80

..

149*4
90%

Central Pacific gold bonds.,
do San Joaquin branch
do Cal. & Oregon 1st .
do State Aid bonds
do Land Grant bonds..
Western Pacific bonds.
Union Pacific, 1st mort. b’ds
do
Land grants, 7s.

'95

Belleville& So. Ill.,pref.

...

St. L. 1. M & Southern...

St.L.K. C.&North’n,pref
Terre Haute & Ind’poiis
Toledo Peoria & Warsaw.
128
United N.J.R. &C
65
Warren

135
75

do
do

MiscePous Stocks.
Am. District Telegraph...
Canton Co., Baltimore....
Cent.N. J.Land & Im. Co.
American Coal.;

21%
17

28
20

..

Consolidate Coal of Md..
Mariposa L. & M. Co
do
do
pref.
Cumberland Coal & Iron.
10

(Stock Exchanue Pi'ices)
Boston H. & Erie, 1st m..
do
guar. ..
Pur. C.R&Minn.,lst7s,g
Chesa. & Ohio 6s, 1st m.

10

15

41

45

Chicago

107

Atchison & Nebraska, 8 p. c..
k Mo. liiv., land m. 7s...t
do
3d S., do 8s...+
do
4thS.,do8»...t
do
5th S.. do 8s... t
do
6thS.,do8s...t

106
!06

103%
103

...

lage
n

& Bur. 8s

80
20

*-4
O’sST

Grand Trunk....

109
109

igg
ma

103*4

25
58
92
75
47

30

101%

102*4

1J0
110
no

25

100*4 101*4
102%

*t*

fro
& Central
Iowa R.8sSsSs
can
m.,

25
16
2
45
ol. & Hock V. 1st 7s, 30 years, 101
do
1st 7s, 10 years, 100
do
2d 7s, 20 years.. 90

.

108

....

*89

'93

108%

8hie. Danv. & VIncen’s 7s, gld

’

101%

4

?eake & 0.2d
gold 7s
[O Clinton & Dub. 8s
is Can.South lstm. g. 7s.

108%
104*4 105
108%

80

• •

101
92

....

19
6
50
103
101

108%
Connecticut Valley 7s
107%
!0d% 10694 Connecticut Western 1st7s.... 27
92
Chic & Mich. L. Sh. 1st 8s, '89. *+55
95
92
Dan. Urb. B1.& P. lstm. 7s,g. 20
96

65
81
65
26

102% 102*98
112% 112%

70

Moines & Ft. Dodge 1st 7s.
Hillsdale & In. RR. 8s
oit& Bay City 8s,end...*f

65
'

'

55
30
100
100
80
con. m., 7s..

104%
105

1-3%
103%,
118
118
Hi

*104%

do
do
7s, equip...
Evansville Hen. & Nashv. 7s...

118%
118%

117%

114
liO

102

102*4
80
89
33

8<
85

■32%

do
do

.

ist

78,1.
1st

g., notgu.
1. g. ,8.'

34

82
40

ex

I-...
80

...

consol, bds..

do

107% 108%
90
90%
1
88.34

T34
15

...

108

....

j

ioo% !!!!
105% 105%’

2i>
no
40

7s, g., I’d gr.,J&J,’80
7s, g., do M&S/86
55
6s, gold, J.&D., 18B6
6s, do F.& A., 1895. 78
7s, Leaven, br.,’96..
Incomes, No. n
do
No. 16.,...
Stock
mazoo & South H. 8s, gr.t •60
Alleghan. & G. R. 8s, gr.. 93
do
do
do
do
do
do
do
do

Income, 7s.
lstCaron’tB
.

Penn. RR—
Pitts. Ft. W. & Chic., lstm..
iVs
do
2dm.. iiT
do
do
do
3dm..
112
Cleve. & Pitts., consol., s.f..
103% 104
uo
4lli mort
Col. Chic. & Ind. C., 1st mort 26
do
2d mort
do
5*5
Rome Watert’n & Og.,con. 1st 45
St. L. & Iron Mountain, 1st m. 103
75
do
do
2d m.. 45
St. L. Alton & T. H.—
109%
Alton & T. H., 1st mort .. .
89
2d mort.,pref.. 87
do
2d
do
mort. inc’ine
'i)V%
Belleville & S. Ill.R. 1st in, 8b 86
86
Tol. Peoria & Warsaw, E. D...
do
do
W. D..
39*
; do
do Bur. Div.
do
do 2d mort..
do
do consoles
Tol. & Wabash. 1sun. extend, 106*
*95
94
do
ex coupon....
r

-

1*

City & Cameron 10s.*+
C. St. Jo. and C.B. 8s of '85
do
do
8 s of ’98

ias

funded int. 8s

do
do

,

»

•••

do

in.

Vs
2d m. income...

*

S

Price nominal,

t And accrued

'86
80
40
70
>2
55
99
66

STATES.

Alabama
do

new

90
83
60
80
88
65
65
80

92*4
45

47*4
20
60
88
32

3
75

76

20
23
6
65
10

75*

80

15

20
53

Si"

consols, Class A

Class B

do

Georgia 68 of 1889

41
63

43-.

97*4

98:

87
92
91
84
63
78
55
67
94
82
30

90
95

69
TO
South Carolina new consol. 6s.
97
Texas 6s, 1892
M.&S J 95
109
110
do 7s, gold, 190t-19iU. J.&J.
do
7s,gold, 1904......J.*J. 109*4 110*4
101
do 10s, 1881
J.&J. 100
do 108, pension, 1894.. J.&J. 103*4 105*4

8s

waterworks...

Augusta, Ga., .78, bonds

Charleston stock 6s

Charleston. S. C., 7s, F. L. bds.

do
bonds A & B
do
end., M. & C.
Mobile 5s (coups, on)
do
8s (coups, on)
do
6s, funded

Montgomery 8s
Nashville6s, old.
do
6s,
New Orleans
do
do
do
Norfolk 6s

93
87;
66
83-

75';
72

3 • • •

BB¬
SS- «
35-

29

.....

30

RR

,

30
25
40
30
70
70
34
40

*

new

prem.Ss
consol. 6s......
railroad, 6s..

50
80

7*7*4;

36
46

.

wharf

55

irnp’ts, 7-30

Richmond 6s...
Savennah 7s, old.
do
7s, new

90
95
98
50
50

Wilm’ton, N.C., 6s, gold) coup
do
8s, gold > on.

60

100
£555
80

80

90

Petersburg 6s

RAILROADS.
Ala. & Chatt. 1st m. 8sf end...
Ala.& Chatt. Rec’ver’s Cert’s.
Atlantic & Gulf, consol.
do
end. Savan’h.
do
stock
do
do
guar.
Carolina Central 1st m. 6s, g.
Central Georgia consol, m. 7s.
do
stock
Charlotte Col. & A. 1st M.Ts..
do
do
stock....
Cheraw & Darlington os
East Tenn. & Georgia 6s
PJasl Tenn. & V*. 6s end. Tenn
E. Tenn. Va. & Ga. 1st m. 7s..
do
do
stock

Georgia RR. 7s

stock

do

7s. guar.
Macon & Augusta bonds..
2d endorsed.
do
stock
do
..

4

6

35

50ft

70
50

68

30

....

20
96

*3*0

70

*74

1*00

...•»

103
85 ' 88
fO
SH
88
90
45
35
1CT
1C5
8278
90
45
42

*i*o

do
do

2d 7s...
stock..

...I

in.

8s

..

Montgomery & West P. 1st 8s.
Mont. & Eufaula 1st 8s, g.. end
Mobile & Ohio sterling 8s.
..

do ex cert. 6s
•do
do
8s, Interest
do
2d mort. 8s
N. Orleans & Jacks. 1st 111.8s.
do
2d m. 8s.
Nashville Chat.* St. L. 7s.
Norfolk & Petersburg 1st m.8s
do
do 78
do
2d m. 8s
Northeastern, S. C., 1st m. 8s..
do
2d m. 8s..

Orange & Alexandria, lsts, 6s.
do
2ds,6s..
do
Sds,8s...
do
4tlis,8s..
Richm’d & Petersb’g 1st m. 7s.
Rich. Fre’ksb’g & Poto. 6s
do
do mort. 7s
Rich. & Danv. 1st consol. 68...
Southwest RR., Ga ,conv.7s,’86
S. Carolina RR.Ist m. 6s
do
7e,1902
do
7s, non mort..
stock—
do
Savannah & Char. 1st M. 7s....
Charleston & Savan’h 6s, end
West Alabama 2d m. 8s, guar..
do
1st m. 8s
PAST DUE COUPONS.
Tennessee State coupons
South Carolina consol
Virginia coupons
do
consol, coup
Memphis City Coupons.......
*

•"

om Inal-

86%.
6

74

35
9576.

*14

*25

37
37
26
5
07
82

40’
40
30
10

90

..

2d

’

80%

ICO
87?
82

88
80

75

ioo
83
80
60

20

•

•

*

85
9075
57
3#
1G2

88 ’

73*
90
90
30

95
75
95
92

40'
33

20
25
24
94

96
96.

40
60

48
75

79
oO

,

"95

4
27

Memphis & Little Rock 1st m.
Mississippi Central 1st m .s

J

98

Memphis* Charleston 1st7s.. *85
60

do

90

60

2d

(Brokers' Quotations.)

do

71
80

20

•K:

....

103*4 Greenville & Col. 7s, 1st mort

*95

+15

do

J2
60
40

90

pref.stock...

10 L:
75.
35

43'.
West Wisconsin 7s, gold....
35
40i
Wisconsin Cent., 1st, 7s
Mercant. Trust real est. mort.7s t.... lOLf
Southern Securities.

Columbia, S. C., 6s
Columbus, Ga.,7s, bonds
Lynchburg 6s.
Macon bonds, 7s
Memphis bonds C

102
Pu. 101*4
lot

..

Peoria & Han. 8s.

lllnofs

.V.

65-

CITIES.

fif

#

15

::::§

Atlanta, Ga., 7s

109%

100
100
102
104
23
54
old.. 88
6s
m. g.
do
45
with Int. certlfs 44
do
95
25
Keokuk <fe St. Paul 8s
t 101
o

....

106*4

111

25
10

•

I

Chicago & Alton 1st mort. 116*4

105

RAILROADS.

....

coup

110
111
112
97
97
106
105
100
115

do
do

....

_

& Alton, income.
Joliet & Chicago, 1st in.
La- & Mo.. 1st in., guar..
ot.L,Jack,& Chic.,1st in.

108
109
1303+ 111
t 109
102
108

*• •

r

Bpring Mountain Coal....
Railroad Bonds.

113*4

114
106

t

Rochester C. Water bds.,
s. 1877-’89
.30s

....

Maryland Coal
Pennsylvania Coal.

103
103
97
113

f

Poughkeepsie Water

103% 103%,
■
do
Sinking fund... 97% 98 1
Pacific R. of Mo., 1st mort... 102% 10294
8?% 89%
2d mort
do

.

t 108
t 110*4
t 93
t 93

t

08wego7s

93
100

•

sinking fund.

t
t 109*4
t 109

Water 7s, long... t

do

~S5
98%
83
99
89
91
91
91

103
109

ong Island City
t
fewarkClty7s long. ........t

•

•

95

iod

[artford 6s, various

100%

70*4,

60
99

do

106

1885-98

do

107

116%
105%

14
69
90
10

*9&

7s, sewerage
7s, water
7s, river Improvem’t
id 7s, long
Detroit Water Works 7fl
“llizabeth City, 1880-95

*••1
•

65

so'

2d, guar •65
25
St. L. & So’eastern 1st 7s, gold.
St. L. * I. Mt. (Ark. Br.) Ts, g.
56
South. Cent, of N. Y. 7s, guar.
60
Union & Logansport 7s
Union Pacific, So. branch, 6s,g
54
Walkill Valley 1st 7s, gold

do
do
do

109

98

95
95
»

Sandusky Mans. & Newark 7s.

+ 112

104*
106

25
13

'll

...

Y., 6s

«»• •

1

32'

27*ft

sink. fund...

do

CITIES.
—[’ll

•

0

Southern Minn. 1st mort. 8s...
do
7s. 1st
St. Jo. & C. Bl. 1st mort. 10s...
do
8 p. c.
do

do

do

mi

1st e«na. cruar

Cleve. & Tol.

104

Miscellaneous List.
(Brokers' Quotations.)

»

r

107%

do
do
2d mort...
Lake Shore—
Mich. So. 7 D. c. 2d mort..... !02
Mich S. & N.Ind., S.F., 7 p.c. 111

3
...

102

30

"W

St. Louis Vandalla & T. H. 1st. •9H

105% 103*

104

New Jersey & N. Y. 7s, gold...
N. Y. & Osw. Mid. 1st
do
2d 7s, conv.
do recciv’8 ctfs. (labor)
do
do
(other)
North. Pae. let in. gld. 7 3-10 ..
Omaha & Southwestern RR. 3s
Oswego & Rome 7s, guar ....
Peoria Pekin & J. 1st mort
Peoria* Rock I. 7s, gold
Port Huron & L. M. 7s, g. end.
Pullman Palace Car Co. stock.
do
bds., 8s, 4th series
Rockf. R. I. & St. L. 1st 7s, gld
Kondout & Oswego 7s, gold...
Sioux City & Pacific 6s.

27
1

...

106

Dubuque & Sioux City,1st m.
do
2d dlv.
do
Cedar F. & Minn., 1st mort..
Indlanap. Bl. & W., 1st mort...

68....
Jan. &

.!!

1

N. Haven Mtddlet’n & W. 7s...
N. J. Midland 1st 7s, gold
N.J. Midland 2d 7s

class B.
class C.

do

do

.

6s, 1886
Rhode Island6s.....
*outh Carolina—
do

Island RR., 1st mort.

86«

ib*9% ii’o'%

3
3
106

Class 2
Class 3

85

10 L
70
itn Pacific Railroad, 1st m.
ig

FIT

do
endorsed
do
105%
do
2d mort., 7s, 1879
105%
3d
do
do
7s, J8S3
103
4th do
do
7s, 1830
100%
5th do
do
7s, 1888
do
7s, cons., mort., gold bds
do Long Dock bonds
Buff. N. Y. & E, 1st. m., 1877... 101
do
do
large bds.
103
do
do
new bd9,1916
Han. & St. Jo., 8s, conv. mort. 90%
Illinois Central—

Funding act, .866

95

reg....

102

94%
85%

*37

75

101%

do

do

do
1st resist’d. 107%
113
iiT
Erie, 1st mort., extended

..

ex

*

®

@

82
convert...
1st m., 1888.. 105
ex coupon .. 93
2d mort., ’93. 65

Han. & Cent. Missouri, 1st m
Pekin Llnc’ln & Dec’t’r.tst m

•

»

con.

Lafayette Bl'n & Mis*., 1st m

t

,

do

Illinois & So. Iowa, 1st mort
ex coupon
do

Kens. & Saratoga. 1st coup., 108

do
..A.& O...,
do coup, off, J. & J..
do
do off, A. & O.




do
do

Ho

A. & O
N.C.RR
J.& J....

do

tf

.....

do

do

tf

*

r

equip’t bonds,

Quincy * Toledo, 1st m.,*90..

63
59

Albany & Susq. 1st bonds... 107% 10794
97
do
2d
do
70
do
3d
do

North Carolina—
6s, old. J. & J

do
do

..

do
do

.

68, new
6s, new

*

•

•

-

loan...1883
do ..1891
do
1892
do
.1833

do
do

lstm.,La C. D.
lstm.,I.& M.D.
lstm., 1. & D..
1st m., H. & D.
lstm., C. & M..
lstm., consol..

Peninsula 1st mort.,conv...
Chic. & Milwaukee, 1st mort
Winona & St. Peters, 1st m...
do
2d mort.
C. C. C. & Ind’s 1st m. 7s, S. F..
do
consol, m. bonds
Del. Lack. & Westerned m...
do
do
7s, conv.
Morris & Es3ex, 1st. m
do
2d mort...*..
do
bonds, 1900....
do
construction,
do
7s. of 1871...
do
1st con. guar.
Del.& Hudson Canal, lstm.,’77
do
do
1881
do
ao
189:

101
101
110

reg....l8S7
do coup.. 1887.....

do
do

do

58
23
41
118
100
*

do
do
reg. do
Iowa Midland,! st mort. 8s...
Galena & Chicago Extended.

68, gold,
6s,
68,
68,

do

2dm. 7 310, do
7s. gold, R. D
1st 7s £ >do

2dm.
do
do
Chic. & N. Western sink. fund.
do
Int. bonds.
do
consol.bdB
do
do
do
ext’n bds..
do
do
1st mort..-.
do
do
do
cp.gld.bds.

Canal Loan, 1877
6a,
do
1878
do
do
do
do

do
do
do
do
do
do
do

do
do

68,

6s,
6s,

con.conv

Lehigh & Wilkes B.con.guar
Am. Dock & Improve, bonds

4
4

Georgia «s

6L*J

1st consol

do
do

do
do

•

~75 '

64

2d mort

do
do

Great Western,
Great Western,
do

#t

(

4
4
108

do

~73

109^4
Chicago, Rk. Island & Pacific, 109
105%
do
S. F. Inc. 6s, ’95
do
6s, 1917, coupon, 104% 104*2
do
6s, 1917, regist’d
Central of N. J., 1st in., new... 1*12%

20
20
20
4

Memphis & L.R.

7a

Bid. Ask.

8S0UBITCK8.

116
109

•

88 Of 1892
8a of 1893.

A rksr °a8
do
do

...

88.M.&E.RR..
8s, Ala. & Cb.K.

\o

Chic. Bur. & 0.8 p. c., 1st m... 115
do
ao consol, m. 7s
58 sink’g f M. A.&O
do

41
41
41
41

88, 1886..

do

Ask.

1

State Bond*
5a, 1883.
6e, 1886
do

do
do

Bid.

8BOURITIK8.

~

AJaixuna
do
do

37

THE CHRONICLE.

14,1877].

JPM

!*«
40

THE CHRONICLE

33

[VOL. XXV.

NEW YORK LOCAL SECURITIES.

.

Capital.

Companies,

Marked thus (*)
not National.

Par

are

Amount

218,000 J.AJ.
150,0(0
2,900
1,000.000 1,223,1X0 I AJ.
200,000
82J0G M. A S.
500,000
>37,90i‘ I. A J.
250 000

100
25
10

Broadway
Ball’s Head*
Butchers A Drov..

25
100
25

Central
Ohatham

2,000,000

25
100
City
...
100
Commerce
.
100
Commercial*
iOO
Codtinental
Corn Exchange*.. 100
100
Dry Goods*
25
East Klver
Eleventh Ward*.. 25
100
Fifth
100
Fifth Avenue*
100
First
100
Fourth
30
Fulton

SOO.OtK 3,089,490
600,000

5(1
Gallatin
Ger. American*.. 100
Ger. Exchange*... 100
100
Germania*
25
Grecnwicn*
Gran l Central'.... 2,5

100,000

UK)
50
Irving
50
Island City*
100
Leather Manuf....
50
Manhattan*
Manui. &, Merch*.. Gt
103
Marine
IOC
Market
25
Mechanics
Mech. Bkg As8o... 50
Mechanics A Trau. 25
too
Mercantile
50
ilerchants
50
Merchants’ Ex

100,00c
300.000
000.001

1

mo

1,000,(XX

51,200

10C'
no
too
too

3.000,000
200,000
300,000

too

1,000,000

400,000
300,000

50

25
50
100
25

422.70.'

2,000,000

too
.

100

1,000.000
250,000

1,500,(XX

1.000,000

too

300,00i

100
100

300,000

no
100
100
too
40
50
1*30

1,000,001

200.000

800,0''0
500,000
1,000,000

1,000,00'
1,500,1 '00
200.000

.

•

•July 2.
.

.

.

..

.

-

•

Ju

,

....

...

....

Arctic

Atlantic
Bowery

io3x

....

....

....

....

Brewers’ A M’lst’rs

Broadway
Brooklyn
Citizens’.

*

2E2

City

».

Clinton
Columbia

...

commerce Fire....
Commercial
Continental........
Eagle

...

....

83" 92k
.

.

77.2 k

....

•

KnTpire City

....

....

Emporium

....

....

c
400
Apr J. 77..
7* July 2, *7.. .5 97

12

May 1. 77.. .5 145
7* Apr.10, 77.33.
Feb. 1, 74.. .3
6
May 11, 77. .6
7
May 2, '77.. .6
8
May 1, *•7. .4

Kxcnange

93"

'

Farragiit
Firemen’s
Firemen’s Fund....
Firemen’s Trust...
Franklin.

10

i*?
bl

....

[08*

....

•

.

,

.

•

•

r

10

J.AJ.
M.AN.
M.AN.
MAN.
J. A J.
J. A J.
1. A J.
J.AJ.
A.A O.
M.AN.

12
to
7
:o
9
10
6
10
8
8

12
9

a

8

f

-

July 2, ’77.3k
2, 77.. .4

8

July
May
May
M*y
July
•luiy

10
3
9
8

8

Greenwich
Guaranty
Guardian
Hamilton

....

l2l

l. 77.2 s
1, 77 .4
I, '77 .3

....

90"

....

86

Hope

Howard

Importers’A Trad..

....

130

Irving....

.

..

Kings Co.

ICO"

90*
...

•

•

.

.

.

.

.

.

.

•

.

•

LoriTlard

•

Manuf A Builders-.
Manhattan
Mech. ATrud’rs’—

....

«...

.

....

....

...

....

July 5, 77

7

i-2

12

12
12
10
7

12

.

.3

....
....

Nassau

....

....

8

6

6

Jan. 2, *'77.

11
12
3

12
11
8

July 2,
.

•.

•

•

,

93’
:;5

•

•

.

.

July 2 77. .5
July 2, i i. *>
Jau. 1, 17. .4
May 10 77 !>€
Jan.2 ’ 74.2kg
Ju y 2 TT7. 3
July 2 77. .4
May 1, 77. .4 135
•

•

.

•

8
10
9
8

Phenix (B’klyn) ..
Produce Exchange
Kelief

....

....

....

Republic

....

.50

Resolute...-

Ridgewood..:
Rutgers’

2 77. .4

paf egnard

City Railroad Stocks and Bonds.
[Gas Quotations by George H. Prentiss, Broker, SO Broad Street.]
Gas and

St.Nicholas
Standard

Star
Gas Companies.

?ar(

j

Brooklyn Gas Light Co
Citizens’Gas Co (BkIvi.)
do
Harlem

2,000,000
20 1.200,000

100)

‘sertiticates

Metropolitan
Mutual, N. Y
do
bonds
Nassau, Brooklyn ...
do
scrip
New \ ork

ICO
ID

People’s (Brooklyn)
do
do

101 (
bond®..
certificates... var

Central of New York

DU
50

Williamsburg
do
scrip
Metropolitan. Brooklyn

var

I’d

120

5

2,r00,0C<)

M.A S

6

1 non ruin

\f

4,000,000

var

July 2, 77

J.AJ.

320.000

1000
l:(’
IJ01

I.oujs

do

5

4

1,850,000
20
386,000
50
ton

Bid.

Var.
A.& u
F. A A.
J. A J.

60

Manhattan

Kate.

Date.
*

Var.

25

Jersey City A Hoboken

do
do

Amount.j

Period

500,00(1

Tradesmen's

77

Jail..

3k April, 77.
4

F»-b.t 77.

5

.Tilly 1,7*
July, 77
Ft-h

77.

,

to Q

3^
2k

J.AJ

77.
i .A J. 3kg iUg., ’:2.
1 000,000
3
Var
1,000.000
Jan., 77.
700,000 M.AN. 3k May 1.77
5
4,000,000 M.AN.
M«y 1,77
1,000,000 J. A J. 3k Jan., 76
325,000 F.A A.
Jan., ’77.
800.000 J. A J.

5.000,10)

Quar.

Apr.,

Feb. 1.77.
2k Ju y, 77

466,000 F.A A.
1,000,000 Quar.
1 000,000 •J.AJ.
1.00( VIM M. AN.

3W

3V

Jan.. 77.

‘Jk'Mav.'O.’TT

75
95

95
160
190
130
ion

•

,

195*

70
95

133
l'>3
103
95
U'6
?0
1P0

1-25

12S

1(0
91
103

40

25
90
80
67 V:
115
(9
65

96

90
95
121
I'M
63

Broadway A Seventh Ave—stk..
1st mortgage

Brooklyn City—stock
1st mortgage

Broadway (Brooklyn)—stock...
Brooklyn A Hunter's Ft—stock.
1st mortgage bonds
Bushwick Av. (B'klyn)—stock..
Ltntral Pk, If. A E. Hirer—stk.
Consolidated mortgage bon s
Dry Dock, E. B. A Battery—stk
let mortgage, cons’d

Eighth A.venue—stock
1st mortgage
VZdSt. A Grand St terry— stock
1st

mortgage

Central Cross Jown-stock.
1st mortgage
Houston. West sl.APav.F'y—elk.
1st mortgage
Second Avenue—stock
...

.

1st mortgage

Cons. Convertible
Extension
Sixth Arenas- stock
1st mortgage

Third Avv.n'de—stock
1st mortgage
Tirenty-third Street—sIock

1st mortgage
**

100

jOOO
100
100C
10
1000
100
100
1000
100
100
1000
100
5C0 AC
100
1000
100
1000
100
1000

100
500
100
1000
1000
1000
500 Ac
100

1000
100
1000
100
10 0

900, (X0

694,000
2,100,000
1,500,000
2,000,000
300,000
200,000
400,000
300,000
500,’<00
1,860,000
1,‘200.000
1,200,000
900.1XK)

1,000,000
203,000
748,000
236,000
600,000
‘200,000
250,000

J. A J.
J. A J.
J. AD.

7

July, I960

3k Jan
77
7
June,1884
Q-F.
May, 77
M.AN.
Nov., ’SO
3
Apl 'li
Q-J.
A. AO. 3
Oct., 76
J

«

&

O

.

J.AJ.
J.A D.

Q-F.

,

7

Dec ,1102
Feb., ’57

J.AJ.
M.AN.

7
5
7

.

A.AO.
M.AN.

500.000 •J. A J.
1,199,500 Q.-F.
2'0,000 J. AD.

72k

7
•1

6

7
7
2
7
7

Jm e,
Jan
,

’93

77

Jan., ’S4

May. 77
April. 73

Nov.,u6i
Dec.. 77

too

M.AN.
A. A «».
M.AN.
415,000 J.AJ.

7

April, ’1
May, MS

91
91

7

Oct.,

2,000,000 Q-F.
2 »J00,000 J. A J.
600,000 J A J.

5
7

M.AN.

7

’83
May, 7'*
July.lJPO
Mav, 77
July,1890
Feb
77
May. ’93

105
160
100
90
100

150,000
770,000
200,000
750, ftX-

250.000

A.AO.

4

,

This column shows ast dividend on stocks bat the data of maturity




160
73

April, 7:

.Tan., ’77

7

190
104

J ill v.1894

2k

J. AD
J A .1.

73
100

*0
60
40
to
8U
100
155
100
115
102 k
50
9)
12
80

1888

12
90

lO
14
10

14

10

77,195
5,245
10,451

10
10
20

5

108,863 10
411,936 20
28,806
3(6,910 20
.

.

7k

....

5

•

20
30
:0k 17
uk 20
17
10
10
i0
5

20

2*9.211
f 3 9,0 )9
19 V-6J
172.151

12,-07
13,376

....

13
sk 10
30
*
30
10
LU
'.0
l6" ;0
10
10
5
13
10
10
10
5

160.326

7735,2:0
510,115
lli.iiOi

6,(78
133,14)
155,1 *6

103,161
16,'i53
96,000
1,846

.

•

•

.

.

•

•

•

135,012

11,131

.

57,663
112,297
51)9,394

•

.

•

«

105 Jb 6

1,002.781
41.293

10

1:8,366
109,418
61,099
7 117,568
294,836
6;),)93
159,503
132,772

7k 10

10
10
18
55
.

162,031

10

65,715

5

10

194,012

7
20
20

17
20
20
10
20
20

20
20
12
20
20

78.175

io

+157,018

15

110.317
185.461

10

7

16

293,653

315.907 20

125.41!
229.518

210,000

128,169
341,235

26

2(0.514

13

KX(
50

500.000

500,391 io

25
25
100
20
50

3)0,000
200,000

132,714 12
410,076 20

200,000
150, (XK)
150,000

139.085

13
20
14
10

none

*

r

22.630

....

219.330

12<\2i5

50

1,000,000

869 316

100
50
100

200,<00
200,000
800,000

83,-87

10(
100
25
100
25
50
100
10c

200.000

3,270

200,000
2(H),000

8 ).9S 1
219.433
150,55')

2i

200,000

2f
27
U
50

150,000

i3;-29i

20

....

....

10
10
12
:;u
20
20
18
10

10
10
12
‘0
20

9 k 11
10

26"
5

200,000
200,000

59,560 10
164,259 6

200,000

151.836 5
77.457 ,10

200.000

HI

’5" l6"

7 70.106-

200,000

20

20
10
10
16
to

156,263 13
192,769 110

to
20
10
11
15
10
10
16
10
14

20
20
15
5
10
10
10
11
20
12 k
10
11 6

12k
10
20
20
16
10

•

•

«

217
210
190
169

.

•

•••••»

*

80

......

135"
.

*225 ’
125

115

4

••••»«

135
123
75
118

125
110
6)
no
7

.

.

•

.

••«•'

•

• ••

•..

•••

90

20)
175
150
140
6J

Ian., ’77 .3
10
Feb.,
July, i iii k
,t
July.
July, ’77. .5
July, ’77. ,1

•

•

».

•

.•••«•

Aug.. ’’76!

70
hr" 113
Ju'y, ’77.
190
July, ’77. 15 115
140
July. 77. ib 12?
803
Jwy, ’77. 10 275
70
•Jau., ’77. .5
96
"so
.5
’77.
July.
160
July/ 44.. 10
130
July. ’77. 5 120
95
July, ’77. .5
110
July, ”4 4. .5 103
90
July, ’77. .5
July,’ 77.. .6 'iis" 117
110
July, ’’7 .6
95
77. .5 *85”
160
Men., ’77. .5
130
170
July. ’77. 11107
July, ’77. .5 104
160
Ju y, i'i li
Ju’y. 'll. .5 *i(6"
9i
10(2
Ju y, ’77. .5
Ju y. ’77 10 160
"95"
’77 .5
Juy, ’77 .6 isa" 140
140
July, ’77. 11
192k
July. ’77. 10 170
J»'y. ’77. 111 10
"95"
90
J uly, ’77 .5
170
July, ’77. in 150
140
13(1
Ju e ’77 .8
July, '77 Id
July, ’77 .6 *i20* ISO
July. ’77 10 180
165
Feb. ’77. 10

20
10
10
10
10
12
12
10
10
20
10
20
lO
10
20
0
11
14
30
20
10
20
>0
25
16
■20
20

20

•

•

.....

h. .5
’77. 10
y,.7.6- 3'
Apr., 4 7. 10

io" l6'

13
10

100
200

ju

1 »

75
65
163

....

.

July,

•

10

.

Jan.,

io *

10
10
12
12

..... f

«

July,

..

140

.8
July.
July, 'a. .2)

X

20
10

14
JO
10
10

«

•

so
100
150

70
*

.

1
.3
•Jan.,
Jan.. ’77. .5
Jane, ’77. 10
Feb., ’77. .5
Feb.. '77. 10
July,’ 27..
July,’ 7,,.. 10
Feb., a. 10

10
30
•jo
40

15
7
10
20
20
10
10
10
15
10
10
10
20
10

5

10
10
20
10

July, ’77. .5
Jan., ’77. .4

10

!0
20
!0
10
10

20
10

10
8
10
0
20
iO
20
20
23
20
20
10
10
25

....

10
to
12k 15
50
29

317,639

July. ’77. .8

30
14
14
10
10
20
15
12 V 15
19
1)
:0
10
12
12

4
10

6)1,837
691,900

July, ’77 .5
July, ’77. .7

15

30

io*

5

none

14
15
10
8
10
10
30
5
*<J0
30
20
20
20
10
10
20
9*31

Ask<

..

..

^.uly’

....

1

-]u]y,

•

•

.

»•

.

.

-

.

,

,

10
10

J
J

12.

A-1., ‘77 .6

30
20
20
20
20

July,

uly ’77
uly. ’77

’77 10
Ju y. ’77 1C
’77
HI
July,
July, 77 .8
July, •77.4"
J«n

3k

5
Jan., ’7L'. 5
76.5
July.
July, ’77. .5
Feb., 77.10

l'»

10
13
25

DM

Inly, ’77..8

Id

feb

110
120
125

iC8*'
1‘25
19 J
•

•

•

•

160*'
K7
95

iso"
125
8)
120
125

’77..5

Feb

’77. 8

1

•

‘266*‘
•

•

.

130
240

"85*

luiy, ‘77 7>.
,’77.. r
I Jan., ’77. S
.

.

.

*21)6"

July, 77,6*23

X
15

90

'

'113k

July, ’77.

10

..

•

'iio"
*

9(‘
65

110
190

130
10C

ioo*
163
175
155

iContinental, 11*45; Standard, 11 55.

City Securities.
[Quotations by Da niel A. Moran, Broker,

40 Wall Stre°t.]
r*K ICE

INTEREST.

Bondedue.
Kate.
rer York:
Water stock
do

Payable.

Feb., May Aug.& Nov.

1870.

7

May A November.

stock.... 1860.
1865-68.

7

1854-57.

Aqued’ctstock.1865.
pipes and mains...
reservoir bonds
Central Paik bonds.. 1853-57.

Croton
do
do

no

..1853-65.

Dock bonds

1 ~75.

do

Floating debt
Market stock

Months

5
6
5
6
6
7
6
5
6

1841-63.

Croton water stock.. 1845-51.
do
do
..1852-60.

do
8

*

50,1(6
7289,328

25

10. 10

3k 10

40.350

200,000

Prior.
Bid.

116
July ,’77. 8 150**
251,537 |14
250,000
'10 1 Jan. ’77..5
10
201.451 10
300,000
Westchester
20 1J in. *77.10 *18^" I 200
12 120
416.550 110
250,000
Williamsburg City
•Overall liabilities, including re-insurance, capital and tcrip. t’lhe tu ilus
reme-'enied by scrip is deductel, and the figures stand as actual net surplus.
United States

1

160
SO
97
102

[Quotations by H. L. Grant, Broker, 145 Broadway.]
tiieecK.tr Si. A EullonEetTy—elk.
1st mortgage

Sterling
St.ny vesant

Aska

Dividends.

1373 1874 1875 1876 Last Paid.

200,000
200,000
200,000

too

People’s

....

■lan

35
100

Park
Peter Cooper.

’

...

8

.

...

....

8
10
10

:7k

North P.iver
Pacific

....

.

25
200,000
100
200,000
50
400.000
100
200,000
100
200,000
20
200.000
50
200,000
25
300,000
190
200,000
25
200,000
17
153,000
20
300,000
70
210,000
100
250,000
30
800,000
100
200,000
50
200,000
100 1,000,000
40
300,000
100
200,000
IOO
200,000
30
200,010
50
200,000
17
204,000
10
150,000
10
150,000
100
201,0(0
LOG
200,000
100 1,000,000
50
500,000
50
200,000
25
200,000
100
200,000
100
200,000
15
150,000
50
500,000
50
200,000
100 3,000,i)00
25
150,000
50
500,000
50
200,000
100
200,000
30
200,010
20
150,000
40
2-80,000
50
150,000
100
200,000
25
150,000
50
200,000
25
300,000
100
200.000
100
250,000
25
200,000
50
150,000
50
200,000
50
200,000
50
200,000
50
200,000

N. Y. Equitable....
New York Fire ...
N. Y. A Boston ...
New York City —
Niagara

icok

....

(B'klyn)...

National

.

HO"

94 k

.3

.

.

»r-r*

1
.3
Jnly.l- 74.: k
Feb. 3, •77 I
Feb. 77. .4

8

62

....

10
7

4

.

Mav 1. 77.. .8
July 2 77.. .3 CC2 k
July 2 77.. .n

10

Mercantile
Merchants*
Montauk (B’klyn).

....
.

iD

July 1, 74.3k
July 2. 77.. .b

Mechanics’(Bklyn)

....

.

(B'klyn)

Lenox
Long IslandCBkIy.)

.

1-nk

•

..

Knickerbocker
Lafayette (B’klyn)
Lamar.. \

•,16

112

...

Jefi'crson

....

....

.

2. 77 3 s
2, 77.. 3

....

...

•

Hanover
Iloffman
Home

....

....

3* Jan. 3, 76.3 k
10
July 2, 77.. .5 125
net. 1, ’75. .4
6 k May 10 •77
10
lu>y 2, 77.3 k
lah. 1, 77.. .4
1
3 k Feb. 1, 77. .4
6
Jan. 2, 77.. 3

7 k
10
8
8
10
114
7k
4
8

Globe

*

Ju y 2 '77.. .6
Feb.(0 11. .4
J ulyl,’75..8k
Jan. 3, 76.. .5

5

Germania

•

«...

....
♦

....

•

....

«...

Met.. 1, 75. .4
July 2, 77.. .7 135"
July 2, 77.. .4 1*8

.

14

10

4

85

....

July 2, 77.3k

„

„

77.. .3

.Ian. 2

8
3

German-Amerlcan

....

.

,

.

.

Par Amount.

Jan. 1,
1877.*

Amity

.

.3

yj, '78

Apr.2.

•

.

.

Jan. 6. 76.. .3 70
Feb. 1. 77.. .5 125

6
10

•

....

.

4* July 10 ,76. .2
July 2, 77.. .3

10
4
4
It

.

412,500

•

iNktoub
1 PLUS,

Adriatic
^Ktna
American
American Kxch’e..

....

€81.00 J.AJ.
96 900 J. & J.
76 000
112,30.1 J. A J.
83,900 J.AJ.
86.700 J.AJ.
173,40 t J.AJ.
227,:O0 Q-F.
440 5(X) 1. A J
16 8.c 00 1. A J.
174.1 (K) J. A J.
15,-00
266 000 F.A A.
132.600 F. A A.
49 300 J. A J.
7’.200 J. A J.
271 200 J.AJ.
38 900 J.AJ.
189.300 M.A N.
15.400 -J.AJ.
173.400 J. A J.
441, 00 J. A J.
758JO0 M.AN.
85,400 J. A J.

1.500.0ft >

.

....

S3I 500

290,001

•

3
10

.....

93,400

3,000.000

....

.

”77. .8
Sept.l 75. .5
July 2, ’77.. .4
July 2, T?. .4 98*
’77.. .4
M«y l. 77 15
July 2. *7l.. .3
May 1. 77.. .5 2'0
July 16 ,77- .3 122
.

8
UK)

.

20

Republic

May.

2.000,000 1031,300

lt)0

108"

....

18.:- 049
100 ,{n 0
600,000 416,s00 J.AJ.
050.Gw 1,191,400 F.A A
11.50C J. A J.
no, ooi
400,000
61, 00 J.AJ.
.335,8i0 J A J.
1 000,000

500,000

•

10
8
10
ICO
8
20
7

8
10
8

p

1,000,000

•

*i'2*’

Q-J.

.1 131
3 l(5k
6

63" j lily 2

....

J. A J.
M.AN.
A.A O.
F. A A.

Ask,

,

.

Q—J.

rovoo J. A J.

3,000.0CO
1, t)00,00('

•

7k

124.200 I. A J.

51X),001'
600,000

•

7

12,: (X) M.A 3.
Too.lto
t,717 S00 J.AJ.
1 500,110
121.00 J. A J.
‘500.001

100

St. Nicholas
Seventh Wurd...
Second
Shoe and Leather.
Sixth
State ot N.Y
Tenth
Third
Tradesmen's
Union
West Side*

•

I. & J.

9,200

240,500
873,000
230,' 00
35 .'00
919,CO
7,10 1

Pheulx

.

*

M ay.
13,000 M.AN.

200,001
200,000

too

Produce*

121,5 X4x7.900
(•49.700
50: .600
612,900
.S6.200
37JOC
4','00

‘000,OOi
’2(0,00<

1

~

24
10
10
8
J. A J.
10
J.AJ.
Bi-m’lv 100
9
J. A J.
20
Q-F
8
J. A J.
J. A J.
8
J. & J.
F.& A. 10
3
J. A J.
8
J. & J.

53,400

750,000
'600.0CK
500,(XK

i

00

Peoples*

6 >3.4(0
31.1076.60
19,6 If

100,10i
500.00'
o

Import. A Traders’

Nassau*
New York
New York County
N. Y. Nat.Exch...
Ninth
North America*...
North River*...
Oriental*
Pacific*
Park

9, WO
164,:00

1,250,001
1,1 VO 001
1.000,00(1
350,00)
2(0,000
150,(XX

1C
too
too

Metropolis*
Metropolitan
Murray Hill*

J76.SOI!

1,000,000 1 491,1 t’l)
10,000,000 1,(92,501

........

Grocers*
Hanover
Harlem*

391,300
197,50

450,000

100

Chemical
Citizens'

• «

*

July 2 ‘77.
May 1 ,77..
July 2, 77.

9
7
12

10
8
12

3.000.00C 1.8:9,20o J.AJ.
5.000,000 l,">(6,11)0 M.AN.

Bid.

Last Paid.

Period 1875. 1876.

on oB

Capital.

Prior.
Companies.

100
America*
American £xch.. 100
too
Bowery

Brewers’AGio’s’*

(Quotations bv K. 8. Bailry. broker. 65

Dividrnds.

a ««

List.
Wall street.)

Insurance Stock

Bank Stock List.

Improvement stock.... 1869
qo
do
....1869.
Consolidated bonds.....var.
Street imp. stock'
var.
do
do
New Consolidated'
Westchester County

var.

6
6

do
do

May A November.
Feb., May Aug.A Nov.
do

do

dQ

do

6

7

do

do

Sg.
r.

1894-97
1889
1879-90
1901
1888

1879-82
1896
1891

January & July,
do

[Quotations ny Nv.

1905
1878

do

do
do
do

7

6g.

1877-98
1877-95
1901

Feb.,May, Aug.& Nov.
May A November,
do
do
do
do

6

1877-80
1877-79
1890
1833-90
1834-1911
1384-1900
1907-11

do
do

do
do
do
do

(lltKKh. -If.

do
rtruKer.

i->\

•»

ail

Bid.

Askd

100
100
1(0
103
1(3

Wk

1!2

106
1()0

102

100k
105
106
118
107

100k

100

107

113
106
101 k
118
104

119
107
10-2
119
105
117
112
105
108

105
110

102 k
104 k
H9
106

111
107

si..|
«

Brooklyn-Local linpr’em’i
City bonds
r

-

*

*

do
P^rk bonds
Water loan bonds..

7
7
7

Bridge bonds....

6
6

Water loan

City Donas

7

Kings Co. bonds
-err

a

do
do
Park bonds

Bndg *
•All Brooklyn bonds fiat.
....

do

of bonds.

6
6

....)

Sewerage bonds
1866-69.
Assessment bonds... 1870-71.

Improvement bonds
Bergen bonds
ipfifG69.

do
do
do
do
do
do

do
do
do
do
ao

do

May A November.
Ho

18811

dn

1924

January * July.

19O7-1910

do

do

102
104
117
m
11.7
106 k
104
no
1 7
106

108
no
119
i‘20

)13K
109
1(8
112
'09
111
110

.

6

1869-71

18)8-80
1381-95
1915-24
1903
1915
1902-1905
1831-95
18S0-83

January A July,

[Quotations by C. Zakri-kik 47
Jersey Lily—
Watei loan, long

ii)5

7
7

7
7
7

7
7

Montgomery St., Jersey City.]

January A July.
January & Juiy.
do

'

do

Jan., Mav, Julv A vov.
J. A J. and J A D.
January and Ju.),.

1895

1899-1902
1877-79
1391

1903
19M-'

101k

102k

lb)
101
1(19
ill)
105

111
102
no

111
106

July 14,

39

THE CHRONICLE

1877.]

cv.

3 riD£0tment0

Capital stock (common)

FINANCES.

The “ Investors’ Supplement” is published on the last Saturday
of each month, and furnished to all regular subscribers of the
Chronicle.
No single copies of the Supplement are sold at the

office, as only a sufficient
subscribers.

2,000,000
tOO.OCO
394,0 >0
110,630
4,6* 4

Equipment bonds
Sinking fun 1 bonds
Notes payab'e
Unpaid dividends and coupons
Approved vouchers

AND

STATE, CITY AND CORPORATION

$8,077,000

Prefer) ed stock

16.371

*

31,695

Profit and loss.

$6,134,300

Manchester & Lawrence.

number is printed to supply regular

(For the

year

ending March 31, 1877.)
LIABILITIES.

$1,000,000
23,0'lH

Capital stock
Notes payable
Dividends unpaid
Income and expenses

REPORTS.

ANNUAL

Ogdensbnrgli & Lake Champlain Railroad.
(For the year ending March 31,1877.)
From the annual report, just issued, we condense the

ASSETS.

The

fol-

tion,

day of February, 1870, the Ogdensburgh & Lake
Champlain Railroad Company leased its road, equipment, and all
its property in use on the road, to the Vermont & Canada Rail¬
road Company and the managers and trustees of the Vermont
Central Railroad, for a period of twenty years, at an annual
rental of $384,620 for three years, $415,390 for the next three
On the 24th

and $446,160 for the remainder of the term, payable
The lessees entered into stipulations to keep up the
and equipment in good condition.

years,

following statement shows the property of the corpora¬
upon the books ot the treasurer :

as it appears
Construction.....

$1,000.030
4,770

Telegraph
Ilookett Branch
New car account, Vermont Central
Concord Manchester & Lawrence Railroad
Cash
Mount Washington Railroad stock,
Pro fo?ma. }-Suncook Valley Railroad
North Weare Railroad

1S.0OJ

...

monthly.

17,353
32 0)0

52,160
00,000
00,000
00,too

scrip

$*.,124,284

Total

Our interest in the Mount Washington

The monthly rental under this lease was paid up to and
including that due August 1,1876. The stipulations as to the
track and equipment were not maintained, but large depreciation
ensued. When the lease was made, the solvent and reliable
party named as lessee was the Vermont & Canada Railroad Com¬

Railroad, the Suncook

Valley Railroad and the North Weare Railroad not being
definitely determined, these items are inserted that the stock¬
holders may not lose sight of them.
RECEIPTS AND EXPENDITURES.

the books of the corporation,,
the year 1872, the income of the Vermont & Canada
and expenses on the line of the
Company ceased by reason of the failure of the man¬ road, and on account of the connecting roads, together with the
agers and trustees to pay their rent, and our security from that sums
paid by the Concord Railroad on account of the nse made
source stopped.
The report narrates at much length the prog- of the
joint property, and on account of the income of ,the roads
rees of negotiations with the Central Vermont, which terminated
above referred to, and from other sources in which this road has
in the O. & L. C. Company paying the Central Vermont Company
an interest in common with that corporation:
$50,000, aad thus stopping all suits, vacating the receivership,
RECEIPTS.
and entering into full possession of the road and property.
From passengers
$60,536
Accordingly, on the 1st of April, the receiver was discharged, Freight
37,822
170
and the company, by its president, took possession of its prop¬ Rents
.....
Express
6,571
erty. Its cars and engines have all been delivered into our Mails..
5,010
:
hands, saving a few freight cars. It is proper here to say that, Concord RR. on account, for six mouths ending Sept. 30, 1876
29,COO
38,590
although our freight cars have depreciated in value, they will Concord RR. on account, for six months ending March 31, 1877
yet be efficient for use for several years by an expenditure of
Total receipts for t\ie year........ /
$177,701
from twelve to fifte°n thousand dollars.
The track will require Expenses
77,265
The following statement, from
exhibits the amount of earnings

pany. In
Railroad

„

$1,121,234

Total

lowing:

road

5.553

89.732

twelve to fifteen hundred tons of iron or steel.
The locomotives
in good condition.
Our equipment consists of 702 box cars,
241 platform cars, 52 cattle cars, 4 saloon cars, 4 boarding cars, in

Making the net earnings for the year ......
From which have been paid two dividends of five per cent each

are

all 1,003
motives.

freight

cars;

17 baggage and passenger cars, 32 loco¬

'

Notwithstanding the low rates received for freight, as compared with rates ruling five years ago,it is believed that tberoad
will soou earn something for the holders of its common stock, in
addition to paying the interest upon its bonds, and dividends upon
its preferred stock.
The expenses of operating the road are
diminished almost in the same ratio as its earnings.
The Company is free from litigation, it has no law suits; its
floating debt lias been reduced since April 1, $32,000, leaving
to-day a floating debt of only $78,000 ; and its financial condition
will compare favorably with that of any road in the country.
With all these advantages, and with vigilance and economy
in its management, it is not too much to expect that our road may
be soon brought back to its former days of prosperity.
The financial statement, March 31, 1877, is as follows:
Surplus on hand March 31, 1876
$91,7-?6

J

Leaving a balance of net earnings
its c to the income account of

$100,435
100,000

for the year, which has been cred¬

....
$435
general depression of business throughout the country has
continued, and is even more marked and more generally felt onthe line of our road than was the case at the time when we
issued our last report, and its effect upon the receipts of our road
is greater than last year. All we can do to counteract it is to run
the road as economically as is in our power, and with the least
possible expenditure for material and labor, with a due
regard to the safety and the proper accommodation of the public,
such as they have a right to claim at our hands ; and we can ody
hope that the foregoing exhibit will be found satisfactory, and
that the future will not be any less prosperous.

The

....

*
1

Fittsburgli Titusville & Buffalo Railway.
(For the year ending Bee. 31,1876.)
The first annual report of this company (Oil Creek & Alleghany
Received of Central Vermont Co., rents to Aug. 1
151,284 River reorganized) has the following : “ Your directors beg leave
Received from Wm. >f. Averill, receiver, balance of his accounts from
to report that, since the reorganization of the company on the
Oct. 16, 187U, to April 1, 1877
63,355 12th
of January, 1876, being twelve days less than one year, the
Received for interest
1,293
total receipts from your road were $706,019, being a decrease
$307,729 from the who’e of the year 1875 of $103,776. During the same
PAYMENTS.
period, that is from January 12, 1876. to December 31, 1876, the
One dividend common stock
»,
$61,540
total expenses were $455,828, being a decrease from the expense^,
One dividend preferred stock
80,009
of the preceding year of $115,047, leaving the net earnings for
Interest on equipment bonds, one year
40,000
Interest on sinking fond bonds, one year
29,360
that portion of the year 1876 $250,190, being an increase of net .
Notes given to Central Vermont Railioad in settlement
CO.OCO
earnings over that of 1875 of $11,270. This gratifying result of
Legal expenses in obtaining possession of the road, and all
an increase of the net earnings of more than $11,000 over the
other expenses the past year
15,134
276,034 whole of the year 1875 is due to a system of economy which was
put in force during the year. Your board believes the expenses
Surplus on band April 1, 1S77
$31,695 of
operating the road can be still further reduced. The interest
Tbie surplus is made up ae follows
Cash, notes, accounts, uncollected freight and other available assets.. $68,004

14,888
80,407

Real estate and wood lots

Shop material, wood, bridge material, &c

$163,300
LIABILITIES.

Notes payable, including notes for $50,000,
Vermont Company in lettlement, April 1
Unpaid dividends and coupons

$110,630
4,6<>4
16,371

131,605

$31,695
BALANCE SHEET,

MARCH

31, 1877.

Dr.

Equipment purchased by loans of 1868 and 1869

Cost of rod...
1
....
Bonds issued to Central Vermont line, for which a sinking fund was

provided,.:

Real estate not wanted for railroad purposes...
Shop materials, wood, bridge timber, &c
Cash, notes, accounts, uncollected freight, and other available assets.




without borrowing, or any increase of
the liabilities of your company.
The past winter (1877) was
very severe upon our road.
For a part of the time, during the
months of January and February, the road was quite blockaded
with snow, and business came almost to a standstill; and during
most of these months great difficulty was experienced and
expense incurred in moving the trains.
The consequence was
that our receipts for those months were much reduced, and the
expenses of moving the trains and keeping the track clear and in
repair were greatly increased. The net, earnings show a dimi¬
nution, as compared with the corresponding months of last year,
of $20,321. TheJ receipts for March were $59,613; expanses,
$33,266, leaving the net earnings $26.347; being an icc^a^e over
those for March, 1876, of $10,790.
We have not yet been able

*

paid out of the earnings,

given the Central

Unpaid vouchers

all the permanent or bonded indebtedness, except the income
bonds, has been promptly paid during the year out of the net
earnings. We have no floating debt, and no increase of capital
or construction account during the year.
All our obligations and
contracts, except as above stated, have been met and promptly
on

$500,000

6,077,010

394,000
14,888
60,^07
68,004
$6,134,300

#

[Vol

THE CHRONICLE

40

have

April,

make up the exact earnings for the month of
but
ian estimated statement, which shows the earnings for this month
to be $63,185, and the expenses, including the rails
and which are not yet laid, $35,000; and net earnings
$28,185—being an increase of net earnings over
to

purchased
of

the month of
date of

April, 1876, of $5,054.”
The following is a report of the operations from the
■organization, Jan. 12,1876, until Dec. 31,1876, one year,
•eleven

days.

$546,540 |
141,615
8,0 6
6,4-9

513

From telegraph

1,308
1,364

From rents.
From miscellaneous sources.
Total

$706,019

receipts

For
For
j For
i For

|I

I

conducting

105.156

motive power

46,251
155,445

maintenance of cars
maintenance of way

operating expenses
(61-68 p. c.)
$435,453
For general expenses (2'e8
p. c.)
20,369

Total

486,860

512,148
243,194

carried, local

carried, through

Receipts per ton per mile, local
Receipts per ton per mile, through
Receipts per ton per mile, average,
Of the total number of tons

739,711
13,678,865
11,785.959

22,873.442

25,461,824

security for the above-named issue, are

Chicago Danyille & Vincennes.—At a

the
for consolidation

portion of the

could have

They had been unable to come to any
Division bondholders, and the com¬
recommend that the Indiana branch bondholders
requisite to pay off the cash indebtedness of the

applied to legitimate uses.
agreement with the Illinois

1-08
2-57

of freight (755,342)

meeting of the bond¬

holders of the Indiana branch, Mr. R. P. Whitehead, from
committee appointed iu May last to negotiate
with the Illinois Division, reported that they were unable to
examine in detail the accounts of the road, and they had no means
of ascertaining to what use the proceeds of a large
bonds issued on the Indiana division had been applied, but it was
obvious that not over 50 per cent of the cash proceeds

3'86

2-39

sufficient to admit of a
will be made

distribution of £3 per bond of £200. This payment
to the holders of the coupons of January 1, 1876.

Cems.

Cents.
3 72
1-0S

that the

the shares of
held as

252.851

755,312
11,304,933
ll,568,5u9

is given in London to

the holders of Leased Lines Rental Trust Bonds of 1872,
funds at present in hand arising from dividends on
the Cleveland & Mahoning Valley Railroad Company,

'

To-ah

NEWS.

GENERAL INVESTMENT
Atlantic & Great Western.—Notice

traiifcportat’n.$128,605

I Total expenses (64‘56 p. c.) $455,823
There was a decrease from the expenses of 1875 of $115 047, a
decrease in gross earnings of $103,776; the net earnings were
r$250,190, an increase over the net earnings of 1875 of $11,270.
The freight movement was as follows:
1875.
1876.
Tons freight
Tons freiglit

what the road will earn, but $150,000
probably be used from earnings, leaving $374,359 to be sup¬
plied. The estimate includes 4 new engines, 2 passenger, 1 bag¬
gage. 50 box, 20 coal and 20 flat cars.
Further equipment could
be bought and grades cut down at several points later, as the
business might require.
It is difficult to estimate

can

lacking

EXPENSES.

BARXING8.

■From freight
From passengers
From express
From mails.

xiv.

transported

during the year, 302,094 tons, or 40 per cent, were bituminous
-coal, and 204,134 tons, or 27 per cent, were petroleum. No gen«ral balance sheet is given in the report.

mittee therefore

raise the money

road, and take poseession of it as trustees;

to make arrange meats,

possible, with some of the competing railroads to carry the
freight and passengers to Chicago on satisfactory terms; to devise
means to complete the Racoon Valley branch, and otherwise to
develop the business of the road ; to sue for the money that has
been misappropriated, and organize as a distinct corporation in
the event of not being able to consolidate with the Illinois
if

The gross

branch.

earnings of the Indiana

branch during 1876

$180,381; of this the Illinois branch credited itself with
$145,504,
only leaving $34,877 for the Indiana branch, while the
Alabama & Chattanooga.
actual cost of hauling was $34,063, leaving only a margin of $814.
After much discussion, the following was unanimously adopted;
A report for the ten months from February 1 to November 30,
Resolved. That the action of our committee be approved, and that the coin
1876, made to the trustees by Colonel Charles P. Ball, General
inittee be continued with full powers to conclude an arrangement in all its
•♦Superintendent, has the following :
oetails with the Illinois division, or with any other party which shall seem to
The general condition of the track was very bad, and due to
them to be to the best interests of our bondholders, and that the chairman
rotten cross-ties, narrow embankments, and want of ditching, as and Mr. J. B. Satterlee be added to the committee.
The meeting then adjourned.
«.lso bad alignment and surface.
On assuming control of the
road, I found 35 miles between Tuscaloosa and Eutaw, Ala. ,in
Detroit Eel River & Illinois.—This railroad was sold at
«uch condition as made it necessary to abandon its operation,
sheriff’s sale, at Logansport, Inch, July 6, for $750,000. James
which was not resumed until July 3, 1876, since which date this F.
Joy and Elijah Smith were the purchasers, they acting in the
portion of the road has been regularly operated. The bridges, interests of the first mortgage bondholders.
with very few exceptions, were very bad, owing to the rotten
Eastern Railroad in New Hampshire.—A report of the
timber and temporary character of the structures.
The rolling directors
of this railroad has been made, which refers at length
«tock (cars and engines) were in bad condition, and not sufficient
to the circumstances of the control of the company by the Eastern
On the of Massachusetts and to the pending litigation. The following
to meet the demands of the local business on the road.
first of February, 1S76, there was wrecked and lying on the
extracts give‘all the essential information :
roadside a number of cars totally disabled, and a number ou the
“Under this lease or contract it is claimed that you are entitled
different side tracks partially so.
Also, an engine which had
to no income whatever for the use of your property, except and
4>een thrown from the track at the foot of Lookout Mountain into
when the Massachusetts Company shall make a dividend to its
the Tennessee River. * * I am pleased to be able to say that
own stockholders, and then only to the extent of the
dividend
all the disabled cars and the engine referred to have been taken
which may be made by that company to its own shareholders ;
up and brought t,o the shops at Chattanooga, and that to-day
and it is claimed that these conditions exist until the termination
there is not a wrecked car or engine outside of the shops at
of the contract of 1840 ; that is, ustil A. D. 1939.
'Chattanooga.”
Your directors could not for an instant concede the correctness
Out of nineteen engines, only eight were able to do service, ten
of the position taken by the Eastern Railroad Company.” * * *
foeing totally disabled, and one used to drive shop machinery.
“A bill in equity was filed against the Eastern Railroad Com¬
Under these unfavorable circumstances, the receipts for the ten
were

“

fib

“

months
Freigit

Mail and express

.....

Telegraph s. d incidental
Total

161,680

expenditures

$27,958

Net earnings

expenditures include improvements as
♦expenses.
The balance sheet is as follows :
The

well as working
$189,639
17,535
294

Earning*
Unpaid vouchers ...—
.Agents, $13; railroads, $201
Total
Cash

$26,696

$207,468

161,680

Expenses, as above

74

*Oar rent

10,913

Agents, $7,393; railroads, $3,520
UTS. Post Office D partment
Rising Fawn Iron Works
Robert II. Smith, Trustee
-J. C. Stanton, laie Receiver.

4

$37,038
123,224
- 10,913
2,2-18

16,215
$189,639

f.

Tolls

r

1,810

38
4,195

59—207,469
30,279 new
ties, widening embankments, ditching cuts, aligning and sur
facing track, rebuilding and repairing 18,528 linear feet wooden
bridging, rebuilding one fixed span, 150 feet, in Warrior River
bridge, and rebuilding a large uutnber of cattle guards and open
A large number of cars has been repaired, the eight
-drains.
engines in service repaired and two disabled ones rebuilt. The
telegraph line has been put in good order, and a loop of five
The work done

on

the road included the laying of

miles built from Attalla to Gadsden.
To put the road in fair order by Oct. 1,
the following estimate:
Roadway repairs, rail fastenings, etc
Bridges and masonry
Buildings
dumping 7 04 miles temporary track to permanent
■Equipment..

%




Court in New Hampshire,
County, under which
The defendants filed
petition for the removal of the suit to the Circuit Court of the
United States. On a motion in the Circuit Court to rescind the
order of the State Court appointing a receiver, the judges held
that the receiver was only an officer of the State Court, and, as
he had not taken possession when the petition for removal was
filed, he could not now take possession. At the May term of the
Circuit Court, the defendants were allowed to July 2 to file their

pany

were :

Passengers

1877, Col. Ball makes

location

$194,941
115,918
14,35')
4 >,75 i

153.400

in January in the Supreme

returnable to the April term of Rockingham
bill a receiver was appointed by the court.
a

answer.

“Soon after the petition for removal was
General of New Hampshire, at the relation of

filed, the Attorney-

two of your stock
holders, filed in the Supreme Court of New Hampshire an infor
mation in the nature of quo warranto against both corporations
for the purpose of testing the legality of the contracts by which
the Eastern Railroad Company claims to hold the New Hamp¬
shire road.
Thinking that this process would give a more speedy
solution of the difficulty,your directors have deemed it their duty
to afford every facility for the prosecution of the suit.
The
relators have also filed a bill in equity, in aid of the quo warrant o,
asking for the appointment of a receiver to hold the income of
the New Hampshire road till the final determination of the con¬
The Eastern Railroad Company has filed a petition to
troversy.
remove this bill also to the United States Court.
By agreement
of all parties, a referee was appointed at the June law term to
report all the facts relating to the removal, the appointment of a
receiver, and the quo warranto, with instructions to report as to
the first two matters, so that a decision may be had at the
adjourned term, August 13.” * * * *
“Of the Eastern Railroad in N> w Hampshire, we may say that it
is a road important in itself, though of far less pretensions or
magnitude than the Massachusetts road, being not quite seven¬
teen miles in length, having a share capital of less than $500,000, with no funded debt, and with a floating debt of less than
$500. Nearly half of its capi al is held in New Hampshire, and
a very large part of it by those who have an interest in the Mas-

la

July 14,

41

THE CHRONICLE.

1877.J

Its liabilities for capital and debt average less tively much increased. Taking as a comparison the reveuue of
$30,000 a mile. Regarding its earnings, all information is the road for the years 1874r-’75, and ’76, for the months of July,
denied us by the Eastern Railroad Company; but your directors August and September, of each year respectively, it will be found
are sufficiently well informed to say that
they will yield an that the gross amount received makes an average of $317,562 ;
deducting 60 per cent of receipts for approximate expenses, the
^entirely satisfactory return, if they can be secured/
Florida Central.—Counsel for the Dutch bondholders have average amount of net revenue is $127,024 for the three months
to payment of interest account.
To this last
applied to the United States Circuit Court for an injunction applicable
amount add the three months’ rental due on Strasburg and
against this company, Milton S. Littlefield aud others, to restrain
Harrisonburg Branch lease, $22,315, making $149,337, and
them from issuing or disposing of certain bonds.
not including a quarter’s mail-pay due 1st October next of about
Louisville & Nashville.—A dispatch from Louisville: Ky.,
$10,000. While the funds are not now in hand to pay the
.July 11, says: At a meeting of the Directory of the Louisville interest referred to above, it is fair to assume on the basis of
and Nashville Railway Company, it was found that the earnings
average receipts for last three years that the net revenue of the
of that road for the last fiscal year were over $350,000 above the next three months will enable the receiver to
pay the interest in
interest of the bonded debt.
Of this amount, $135,000 were full on the hoods as follows:
appropriated for a dividend of 1^ per cent., and the remainder 2d O. & A. due January 1, 1817
$49,313 83
was devoted to the reduction of the company’s liabilities.
1st O. & A. rue May 1. 1377
16,333 S»
sachusetts road.

■than

Memphis & Little Rock.—The sale of the depot and track in
Memphis, which was to take place July 12, under a decree of the
Supreme Court of the State, has been adjourned by Judge Trigg,
of the United States District Court, on petition of Watson Mat¬
thews, of New Jersey, Wm. J. Pierson, of Connecticut, and R. R.
Dow, of New Hampshire, until their rights in the premises are
settled by the United States District Court for West Tennessee.

.

57.150 00

July 1, 1877

$123,417 13

Total

and leave sufficient margin to meet the July interest on 2d O. &
A. bonds in October with the earnings of the latter month,
which is also one of the most productive of the year. The above
estimate is of course speculative, and the grounds upon which it

Northern Pacific.—The land department sales for month of
June were 17,687 41-100 acres ; total sales for the six months end¬

is placed are presented lor the consideration' of the bondholders.
The receiver can only pay out such funds as may be actually
available for interest when the same are in hand.”

ing June 30, 105,765 10-100 acres, for $455,427 98.
States land office records show that during the year

tion

The United

ending May
31, under the operations of the pre-emption and homestead laws,
2,370 claimants have taken up 324,189 acres of the Government
lands within the limits of the grant to the road.
This, including
.the number settled upon railroad lands, represents an increase of
population, during the year, of fully 10,000 people. Station
agents’ reports show some 4,500 passengers and 10,800 tons of
freight carried over the road during the month of May.
Orange Alexandria & Manassas.—We are permitted to pub¬
lish the following statement, made by Messrs. William Fisher &
Sons, of Baltimore, to one of their correspondents : “On July 1,
1867, when the road from Alexandria to Lynchburg, and known
as the
Orange & Alexandria Road, was consolidated with the
Manassas Railroad, a mortgage was issued for $1,649,000. This
was, and is, the first mortgage on the road from Manassas to Har¬
risonburg, a distance of 113 miles, and is also a mortgage upon
the road from Alexandria to Lynchburg; but on this latter part
there are prior mortgages to the extent of about $4,032,359. The
bonds known as the Orange Alexandria & Manansas Railroad
first mortgage bear 7 per cent interest, payable January and July,
and the principal matures July 1, 1832.
“On April 1, 1871, a second mortgage was given for $350,000,
of which $25,000 only has been issued, though the residue Las
been hypothecated. This mortgage matures April 1, 1891, and
bears interest at the rate of 7 per cent, payable April and October.
The first mortgage bonds are regarded dv owners of them as of
undoubted intrinsic worth and security, and only the connection,
with and reflex from the Baltimore & Ohio Railroad has occa¬
sioned a depression in the price of the bonds.
The interest

the first mortgage amounts to but $115,430 per annum ;
fifty-one miles of the road are leased to the Baltimore & Ohio
Railroad Company for 99 years for $89,250 per annum, payable in
gold, which is applicable, by decision, we understand, even if
there were any question, to the payment of interest; this would
make only about $425 per mile per annum, to be raised out of the
residue ol the road, and that residue now pays $1,500 per mile, per
annum. The coupons matured July 1,1877, were not paid on that
date, and the receiver of the Washington City Virginia M. &
Great Southern Road expects to pay them in September or Octo¬
ber next, as per his circular letter, herein enclosed.
We have
understood that the cause of the delay is that the lease money is
due from and payable by the Baltimore & Ohio Railroad on Sep¬
tember 15 and March 15, and probably it has not been convenient
for them to anticipate the same.”
—The following is from the receiver’s circular of June 27,
upon

-

1st O. A. & M. due

referred to in the above letter : “ The decree of the Circuit Court
of Alexandria, in the case of Graham vs. W. C. V. M. & G. S. R. R.

Co., directs the receiver to pay out of any funds in hand, or
accruing, after payment of repairs and operating expenses, the
interest due or to become due on the 1st and 2d O. & A. R.R. and
the 1st O. A. & M. R. R. bonds. The order ol Court does not
extend beyond the above classes of mortgage bonds, and of
course limits the powers of the receiver until further directed as
on the other mortgages.
The decree of Court
made on the 25th of November last and the interest due on
the bonds referred to was paid soon after that date and prior to
let of January last—and the interest coupous of the O. A. & M.

regards interest
was

bonds, which matured the 1st January, 1877, were provided lor
maturity largely by the agency of the B. ct O. R. R. Co., in
anticipating payment of rental on Strasburg and Harrisonburg

at

line due 1st March. The interest in

arrears on

the bonds directed

paid by the Court as above is as follows, viz.: On 2d O. &
A. mortgage due January 1, 1877 ; on 1st O. & A. mortgage due
May 1, 1877.
On* 1st Julv next there will be another instalment of interest
due on the 2i O. & A. bonds, and one on the O. A. & M. R. Ii.
bonds. Like many of the railroads of the country, the business
of this line since January to the present time has been exception¬
ally depressed, and less as compared with same period of
previous years, and afforded only a small margin in excess of
repairs and operating expenses. Tiie expense account per month
being substantially the same without regard to the amount of
Receipts. At the commencement of July and extending to and
inclusive of November, monthly earnings ^nd receipts »ro rela.
to be

“




Raleigh & Gaston.—The treasurer is now paying, on presenta¬
at his office in Raleigh, N. C., the $50,000 first mortgage
bonds, which fell due July 1. Interest on these bonds ceases

from that date.

Savannah City Bonds*—A bill has been
Court of Georgia by J. G. Butler and
dents of Savannah against the Mayor

filed in the Superior

twenty-seven other resi¬
and Aldermen, George P.

Carry, of Richmond, Ga., Eugene Kelly & Co., of New York, and
others, to restrain the payment of any of the coupon bond issues
of Savannah, to restrain the commencement of suits to enforce
payment of the coupons, and asking the Court to take the city
property under its control in order to prevent levy thereon. It is
alleged in the bill that “ the coupon bonds of the city of Savan¬
nah which are now outstanding, and which amount ia the aggre¬
gate to $3 473,800, were all of them issued without authority of
law, and are invalid.” The same is alleged as to the city’s in¬
dorsement of Atlantic & Gulf Railroad bonds, the indebtedness of
the city on promissory notes of the Mayor to certain banks named
in the bill, &c.

Springfield Athol & Northeastern.—The northern section of
(the original Athol & Enfield) was sold at Enfield, Mass..
July 2, and the Springfield extension of 18 miles at Springfield,
Mass., July 5.
The property was bought in- by Mr. Willis
Phelps, who bid $5,000 for the northern^ section, $5,000 for the
30 miles

extension and

$1,000 for real estate in Springfield.

Sullivan County (Vt.)—The directors of the Sullivan County
Railroad, at a special meeting held at Concord, N. H., to consider
tbe further continuance of the lease under which the road has

operated by the managers of the Vermont Central Company
1566, voted unanimously to terminate the contract, fixing
1st of August next as the date of termination.
The road and

been
since

the

substantially owned by the Northern Railroad
sale in 1866, and
immediately to the Hod. J. Gregory Smith, President

appurtenances are

Company, which purchased it under a mortgage

leased it
of the Vermont Central Railroad corporation, at an
of $25 000, the lessee being obliged to keep the

annual rental
property in as

good condition as it was at the time of the lease.
Western Maryland.—The Board of Directors of the Western
Maryland Railroad Company decided not to pay the interest due
July 1 on the unindorsed bonds of the company. A circular
addressed to the holders of these bonds states that in conse¬
quence of a large outlay, partly for additions to the equipment,
made necessary by the increased business of the road, and for
other important purposes, they consider it not advisable to make
the usual payments of coupons at this tim*\
The directors deem
it a matter of justice to the road and the holders of its securities,
that opportunity should be allowed for an accumulation of
revenue not only sufficient to meet all current liabilities, but also
adequate to meet anv possible contingencies that might arise.
Accompanying the circular is a statement of the earnings of the
road, showing $198,420 earned in the first eight months of the
present fiscal year, against $87,365 in the eight months beginning
1st October, 1869.
Upon this basis the earnings of the full year
would be about $300,000. Estimating the expenses at 66 per
cent (as in the previous year), the net earnings will amount to
about $100,000. The entire funded debt of the company is about
$4,000,000, the interest upon which for one year is $240,000.
West Wisconsin.—The holders of the mortgage bonds are
notified that, by order of#the Circuit Court of the United States,
the receiver will issue receiver’s certificates to the amount of
$200,000, payable on or before the expiiation of one year from
their date, bearing interest at not exceeding eight per cent per
annum, the money to be raised upon these certificates to be used
in rebuilding the Black River Bridge and putting down steel
rails ; tbe certificates, by order of the court, to be first lien upon
all the property and franchises of paid railway company.
Each
holder of tbe mortgage bonds of said company will, for thirty
days from the date of this notice, be entitled to purchase at par
such proportion of said certificates as tbe bonds held by him bear
After that time any
to the whole number of bonds outstanding.
holder ot said bouds will be entitled to purchase at par certificate*
then remaining unsold.
’

THE CHRONICLE

42

[Vol XXV.
COTTON.

©be Commercial ©tines.

Friday. P. M.. July 13,

COMMERCIAL EPITOME.
Friday

Night, July 13, 1877.

oppressively hot
as to prove a bar to business, and a very fair trade has been done
the past week in the leading articles of merchandise. It is toJie
noted, likewise, that prices of staples which have for some time
been very low, are at length recovering slowly.
Still, it must be
some weeks before a general revival of active trade can be looked
The weather has been seasonable, yet not so

for. Confidence is in

a

great measure restored, but

bales, against 6,102 bales last week, 6,519 bales the previous
week, and 8,526 bales three weeks since, making the total receipts
since the 1st of September, 1876, 3,949,162 bales, against 4,070,775
bales for the same period of 1875-8, showing a decrease since

this week (as per telegraph) and for
five previous years are as follows :

1876-7.

Increase.

128,947,158

44,437,800
165,898,042

9,738,200
36,050,581

.275,329,600

345,326,472

69.990,872

438,976,658

555,662,314

116,6S5,656

1875-76.

Pork, lbs

34.609,600

Lard, lbs

'.

Bacon, ibs
Total.lbs....

Kentucky tobacco has been active for export, and prices are
hhds., of which 1,500 were
The advanced prices are, 4
@5^c. for lugs, and 64<a)16c. for leaf. There has been a fair busi¬
ness in Spanish tobacco, the sales aggregating 500 bales Havana,
at 75c., 80c., $1 10 and $1 15. The movement in domestic seed leaf
continues on a moderate scale, but 903 cases have changed hands,
as follows : 200 case3 sundries 4, 7,
10@18c. ; 77 cases, crop of1876, NewEngland seconds and fillers, p. t.; 100 cases New Eng¬
land, 12320c.; 100 do., crop of 1875, N. E., 10335c.; 79 do., 1875,
Pennsylvania, 7, 9, 30@40c.; 100 do , lS?3-4, Pennsylvania, 6^c.;
50 do., 1875,State, 64c.; 100 do., 1875. Ohio, private terms; 55 do.,
1874-5, Ohio, 5i, 0-1, 7(Vi8c.; 42 do., 1874, Wisconsin, 7c.
In Brazil coffees only a moderate volume of trade has been
effected, but holders have retained the late firm quotations of 17
<®20fc., gold, for fair to prime cargoes. The stock here in first
hands on the 11th inst. was 90,458 bags. Mild grades have been
quiet, but quoted steadily as before. Rice is without important
Molasses is
feature; domestic sells fairly at steady prices.
exceedingly dull and quite nominal ; 50-test Cuba quoted at
42c. New Orleans grocery, 45@56c.
Raw sugars have been dull
and nominally lower; fair to good refining Cuba, 9|39fc.
Refined quoted at ll-j@12c. for standard crushed.
The move¬

dearer. Sales for the week are 1,600
lor export and 100 for consumption.

ment in raw’s

has been

:

Hhds.

Stock.

99,929
Ju’y 1, 1877
22,391
Receipts since July 1, 1877
Sales since July 1, 1877....
4,b89
117,631
Stock, July 11, 1877
Stock. July 13. 1376
86,385
There have been moderate calls for
,

Boxes.

3,789

Bags.
235.570
17,062

500

4,754

21,687
13,699

247,878

13.398

175,400

Melado.

1,650
544

2,224
3,284

freight room on the
berth, and rates in most instances Lave remained steady. In
charters a very good movement in petroleum vessels has been
reported, and previous rates have ruled, bate engagements and
charters include : Grain to Liverpool, by steam, 5d. ; bacon, 20s.;
cheese, 40s. ; tobacco, 27s. Gd. Rosin, by sail, Is. 9d.; cotton,
3-16d. Grain to London, by steam, 5|d. Rosin, by sail, Is. 9dr
GraiD, to Bristol, by steam, 5|d.; do. to Glasgow, 4d.; bacon,
20s.; cheese, 40s.; rosin, 23. Gd. Grain to Cork for orders, 4s.
3d.@4s. 3|d.; do. to Copenhagen, 5s. per qr. Naphtha to French
port, 3s. 0}d.@4s.; do. to the United Kingdom, 3s. 9d.; refined
petroleum, same voyage, 3s. 9d. ; do. to London, 3s. 7^d.; do. to
Antwerp, 3s. 74d.; do. to the Baltic, 4s. Gd.; naphtha to Stockholm, 4s.; refined petroleum to Trieste, 4s. lid.; cases to Ali¬
cante, 24c. gold; do to Naples, 21c., gold.
To-day, berth room
was quiet, but charters were fairly active.
Grain to Liverpool,
"by steam, 4£@5d.; do to Glasgow, by steam, 5d.; do. to Cork for
orders, 4s. 6d.; do. to Bristol channel, 4s. 3d.; refined petroleum

1,243

2,384

825

1,409

1,886

470

369

205

82

347

5;2

77

Charleston

267

355

421

966

98

£53

95

1,579

6}0

689

384

235

676

1,740

368

324

338

281
36

390

9

1

848

2,032

4,571

7

5

10

108

139

247

199

399

564

439

3,079

2,559

1,034

18

29

38

112

417

132

4,404

6.005

3,463

9,190

13,o33

3,267

4

Royal, &c.

Savannah
Galveston

389

Indianola, &c
Tennessee, &c

8

•

1,011

Florida

•

North Carolina

•

•

City Point, &c

•

•

1,319

•

173

Norfolk

•

[•
}

500
....

n

ft

i

Total this week.......

Total since Sept. 1.... 8,949,162 4,070,77.5 3,467/33 3,782,617

3,552,169 2,699,925

The exports for the week ending this evening reach a total of
15,619 bales, of which 13,789 were to Great Britain, none to
France, and 1,530 to rest of the Continent, while the stocks as
made up this evening are now 221,723 bales.
Below are the
stocks and exports for the week, and also for the corresponding
week of last

season:

Exported to

Total

Same

Conti¬

this

week

nent.

week.

1876.

Week

ending
July 13.

Great
Britain.

New Orleans*

Prance

•

•

•

•

•

•

•

•

•

•

•

•

•

•

•

....

...

•

•

•

•

•

•

•

•

•

•

•

•

•

•

•

.

•

•

•

•

•

•

•

•

•

....

•

•

•

48,327 51.478
5,754
7,473
665
2,790
3,593
1.452
2,138
5,355
10,067
3,462 115,888 122,589

'

Charleston
Savannah

Galvestont
New York

580

4,369

•

•

•

•

•••

....

4,949

Norfolk.
Other portet

210

Total this week..

Total since Sept. 1 2,108,844 4 45,331

4,287

2,154

30,000

80,000

18,559 221,723 23; ,570

15,619

1,830

13,789

2,049

210

....

...

1876.

1,433

....

•

1877.

10,959

10,460

1,250

9,210

Mobile

Stock.

429.834 2,987,009 3,157,481

....

....

*

Mew Orleans.—Our telegram to-night from New Orleans snows that (besides
above exporiS) the amount of cofton on shipboard and engaged fo- shipment at
that port is as follows:
For Liverpool, 3,759 onle*; tor Havre, 9,‘03 bales; for
the Continent, no bales; for coastwise ports, 4 0 bales; which, if deducted from
the

stock, would leave 34,730 bale;, representing the quantity at the

presses unsold or aw tiring orders.
t Galveston.—Our Galveston telegram shows (besides above
board at thit port, not cleared:
For Liverpool. ’.,’22 bales;

biles;

no

for

coastwise

landing and in

exports) on stiiD*
for other foreign,
pets, no bales; which, if deducted liout the stock,

would leave remaining 8,943 bales.
X The exports this week under the head of “other no’-ts” include, from Phila¬
delphia, 209 bales to Liverpool; from San Francisco, 10 bales to Liverpool.
From the foregoing statement it will be seen that, compared

with the corresponding week of
in the exports this week of 2,940

last

season,

there is a decrease

bales, while the stocks to-night

10,847 bales less than they were at this time a year ago.
The following is our usual table showing the movement of cotton
at all the ports from Sept. 1 to July 6, the latest mail dates:

are

RECEIPTS
SINCE SEPT.

PORTS.

EXPORTED SINCE 8SPT.

1.

1876.

1875..

Great
Britain

France

1,175,778 1,383,476 679,633 319,522
356,786 369,033 145,597 25,163
465,962 409,023 221,616 50,679
Charlest’n *
474,760 51.4,401 233,515 14,742
Savannah
499,971 476,156 205,129 24,774
Galveston*.
9,033
120,650 197,290 862,638
New York..
N. Orleans.

Mobile

..

20,379

N. Carolina

128,557

12,069
101,830

Norfolk*

550,579
148,205

437,453
109,099 113,873

Florida

Other

..

ports

Tot. this yr. 3,944,753
Tot. last

vr.

U UHCl

.......

•

•

forei’n

179,791
44,922
72,801
50,052

25,41*2
27,138
....

.

10,606
1,221
16,061

2,511
1,602
-

....

Total.

Coastwise
Pores.

4,064,7702010,951 436,460

Stock

61,107
1179,251 173,366
7,818"
215,682 141,611
3,908
345,096 106,821
2,715
298,309 140,315
255,315 242,971
10,296
121,296
393,814
20,379
36,474
90,922
1,261
7,100
112,515 431,395
129,934
29,500
....

....

...

2095,055 448,331 428,004 2971,390 1347,783

G91,51l!3133,922

1308,882

245,001
250.445

*. vt w

Ladianoia,&c.; under the head of Norfolk, is included CUy
.i

These mail returns do not

the

.

.

23,357
109,692

U1U UOUU CM.

Galveston Is included

PoLnt. &c.

•

Other

1 TO—

correspond precisely with the total of

telegraphic figures, because in preparing them it is alwrya

to incorporate every correction mac!« at. the ports.
The strength of the cotton market, which was exhibited in
further changes can be noted. Spirits turpentine
closes about steady at* 31-Jc.; common to good strained rosin, private circles at the date of our last, was reflected at the reopen¬
$1 85@1 90. Petroleum was again firm, though quiet; the Creek ing of the Cotton Exchange on Monday; but a pressure to sell
markets have been unusually firm—crude in bulk closes at Gfc., was soon developed, and prices declined 1-lGc for cotton on
and refined in bbls., 13£c.
American pig iron remains very dull the spot, and on Tuesday, notwithstanding the sale of a line of
and almost wholly nominal, at $17@18 for No. 1, $17 for So. 2, 4,000 bales for Russia, there was a further decline to 12£c. for
•and $16@17 for forge. Scotch pig is easy at $24 for Eglinton middling uplands—at which the market ruled quiet on Wednes¬
and $26 50 for Ccltness.
In rails, 700 tons steel sold at $47. day. But yesterday there was a good demand for export to Liver¬
Ingot copper still dull, and rather easy at 19@19£c. Whiskey pool, and a* firm market, and to day there were additional sales of
closes quiet at $1 12, tax paid.
2,800 bales for Liverpool, and quotations were advanced 1-lGe.

modic, and

'

Port

ocean

Rotterdam, 3s. l(Rd.; do. to London. 3s. 9d.; do. to the Baltic,
4s. 3d.; crude to Havre, 3s. 9d.; case oil to Java, 28£'333e., gold.
The business in naval stores has been moderate and spas¬

to

1872.

1873.

1874.

1875.

1676.

Mobile

New Orleans

*

follows:

1877.

Receipts this week at—

fresh ventures

carefully scrutinized.
There has beea an important advance in pork and lard, and in
provisions generally a steadier feeling prevails. It is stated in a
Chicago paper that extensive purchases and contracts were made
in Western markets for account of the French government. Mess
pork sold to-day at $14 50 on the spot, $14 40@$14 55 for August,
and $14 60@$14 70 for September. Lard was in demand at $0 25
@$9 35 for prime city and new Western, with large transactions
for future delivery at $0 40@$9 45 for August, and $9 50@$9 55
for September, with one sale at $9 20, seller the year. Bacon
has been more active at about 7c. for long clear.
Cut meats are
quiet at the late advance. Beef has been more active for prime
mes3 for export, but at private prices.
Beef hams are dull.
Butter Js steadier throughout, and the high grades slightly
dearer. Cheese is firmer at 8@10ic. for good to choice factories.
Tallow has relapsed into dulness at 8£c. for prime.
Stearine is
quiet at 10@10£c for prime. The foreign exports of hog prod¬
ucts, from October 29 to July 7, for the last two cropseasons, com¬

The details of the receipts for
the corresponding weeks of

Sept. 1, 1876, of 121,613 bales.

are

pare as

1877.

The Movement op the Crop, as indicated by our telegrams
from the South to-night, is given below. For the week ending
this evening (July 13), the total receipts have Reached 4,404




no

necessary

delivery, the prices showed on Monday an advance
for August and 6 points for September over the clos¬

For future
of 11 points

improvement was
points below the
highest figures of the day, and in the later months there was a
general but irregular decline. The reports of the Southern Cot¬
ton Exchanges for June were made public on Tuesday and Wed¬
ing figures of the previous Tuesday; but the
not only speedily lost, but August closed 20

quite so favorable
as was expected.
The most conspicuous of the adverse features
of these reports was the almost uniform statement that the crop
is ten or fifteen days late.
The effect of this was seen in.Wednesday’s market, when October and the succeeding three months

The

following exchanges have been made during the week:
exch. 100 Oct. for Etapt.
exch. BO0 Nur. for Out.

•8# pd. to
*21 pd. to

9@11 points higher, though spots and .August were scarcely
But yesterday there was some advance on August as well
as the later months, and to-day futures were rather quiet, the
early months showing some further advance, due mainly to the
increased export business in cotton on the spot.
The total sales for forward delivery for the week are 151,100
bales, including — free on board. For immediate delivery the total
were

dearer.

this week 12,874 bales, including 8,107 for export,
3,640 for consumption, 627 for speculation, and
in transit.
Of the above, — bales were to arrive.
The following tables
show the official quotations and sales for each day of the past week:

sales foot up

01.3704 1
Sat.

Mon

Sat.

Mon.

Sat.

Mon.

TEXAS.

N. ORLEANS.

ALABAMA.

UPLANDS.

'

Sat.

■-

Mon.

July 7. July 9. July l. July 9. July 7. July 9. July 7. July 9.

$ H>.

Ordinary

ri

Strict Ordinary
Good Ordinary
Strict Good Ord’ry.
Low Middling

o

1

o

*T3 <D

Strict Low Middl’g
Middling
Good Middling
Strict Good Middl’g

o a

o

A

Middling Fair

W

Fair

10%
U%
11%
11%
11
12
12
12
12
13
13

H%
11%
11%

o

1

13-1C

O

11
12
.2
12
12
3
3

•o SJ

S3 oo

3-16
7-16
11-16
1-6
13—16

o a
A

►H

•a.a
O

'A

1®
H%

<V

lo

T3 V

12%
12 5-16

S.bC

2

12
12
13
13

a *
O

H

w

o

15-16

11
*0 O
°

1

11%

13-16
3-16
7-16
11-16
1-16
13-16

Tj

a to

1!

9- 6
13-16
3-16
15-16

o

A

H

10%
11%
11%
11%
11 15-lC

12%
2
12
12
13
13

5-16
9-16
13-16
3-16
15-16

Tues Wed. Tues Wed Tues Wed. Tues Wed.
July 10 July ll July 10 July ll July 10 July 11 July 10 July ll

Ordinary
F n>. 10 11-16
11 1-16
Strict Ordinary
11 5-16
Good Ordinary
Strict Good Ord’ry. 11 9-16
Low Middling
M%
Strict Low Middl’g 11 15-16
Middling
12%
Good Middling
12%
Strict Good Middl’g IX
13
Middling Fair
Fair

13%

10 11-16 10 11-16
ll 1-16 ll 1-16
11 5-16 ll 5-16
II 9-16 ll 9-16

11%

11%

10 11—16
11 1-16
ll 5-16
11 9-16

10 13-16
11 3-16
11 7-16
11 11-16

11%

11%

11 15-16 11 15-16 ll

12%
12%

12%

1G

13

13

13%

13%

13%

12%

.

10 13-16
11 3-16
11 7-16
11 11-16

10 13-16
11 3-16
11 7-16
11 11-16

15-16 12 1-16

12%
12%
12%

12%

12%

:2%

11%

11%

11%

12 1-16

12 1—16

12 1-16

12%

12%
12%

12%
12%
12%
13%
13%

12%
12%
13%
13%

12%
12%
13%
13%

10 i3-ie
11 3 16
11 7-16
11 11-16

12%

13%

MIDDLING UPLANDS—A.XIBIOAN

Frl.

f) n>.

Strict Ordinary
Good Ordinary
Strict Good Ord’ry.
Low Middling
Strict Low Middl’g

13%

Middling
Good Middling

10 13-16 10%
11 3-16
11%
11 7-16 11%
11 11-16 11%
11 15-16
11 i3-16 11%
11%
12 1-16
ll 15-16 12
■2%
12 5-16
12 3-16 12%
3-' 6 12%
12 9-16
12 7-18 12% 7-16 12%
12 13-16
12 11-6 12%
11- 6 12%
13 2-16
13 i-:6 13%
1-16 VS
13 li-16
13
13-16
13-16 3%
v<%

11-16 10%
1-16 11%
5-16 11%
9-16 11%
11 13-16
11%

10
tl
11
ll

11 15-16 12
12
VIM

12
,2
13
3

12%

8trict Goud Middl’g 12%
13
Middling Fair
Fair
13%

10
ll
ll
ll

11-16 10%
1-16 11%
5-16 '1%
9-16 11%

„

:0
!1
ll
11

13-16 10%
3-16 11%
7-16 11%
11-16 il%
11 15-16
11%
12 1-16 12%
12 5-16
12%
12 9-16
12%

12%
13%

12 13-16

13%

’.8 15-6

13 3-16

Th.
Frl.
Sat. Mon. Tues Wed
July ,7. July 9. July ll July il July 12 July 13
10 5-16
10 15-18
day— ll
Exch’e ll 3-16 11%
clo-ed. ll 11-16 11%

Holi¬

Middling

10%

10 5-16 10 5-16 10%
10 5-16 10 15-16 ! 1
11 3 16
11%
11%
11 11-16
11%
11%

SALES OP 8POT AND

ConSpec¬
sump. ulate

Ex¬

Closed.

port.

Holida
825
4 3
l>54

Saturday..

Monday'..

Quiet, lower
Tuesday
Easier, lower
Wednesday Quiet, unchange i
Thursday.. Firm, unchanged
Friday
Steady, higher....
.
.

Total

4*666

1,267
2.840

1,074

8,107

8,640

Tran¬
Total.
sit.

627

4,525

32,600
36,500

954
2.339

31,300
2 7,BIX)

3,524

23,400

300
500
400
200
300

12,374

151,100

1,700

982

157
122
300
43

...

Deliv¬
eries

Sales.

y.-E xchan geclos ed

634

ba’es.
50"

12*21

12-13
12-01
12-05
12-1)7

300
300
500
110
100
100
200
100
300

...12-22
12 23
12*.-4
12-25
12-26
12-27
12-28

12-.8
12- 9
1210
12-11

12-12
12*13
12-J4
12-15
Id-17
12*18
12*20
12*21

4,600 total July.

For August.
12 01
100
2.3 0..
12-04

3/00...
2,900
2.700

i2"i 5
12*06
12-07
12-08
12-09
12*10

9.400
S.’OO
3,300.

12-11
12 12
12*i3
i‘2-14
l<-li
12-14

2,500

400

2.200

...

8.30..

.12*17

5.301

12 18
1219

7,100

12-2)




cts

cts.

..

12-29
12-30

bales.
1(0
ICO

cts
11-15
11-46

1,100

11-17

2!500

For

September.

200

1,10"

11*39

600

11*53

310
20J

11-10

1,71X1

)l*5t

...

1,200

...11*56

400
800

11*53

11-50

...11-61

1,700
11*200

1 *85

1,000
1,900
1/20J
3,800
2.6U0
3,100
2.3 X)

11-37
11*33
11*8»
11-90

11-96

11-97

4,200
1,90 •

11-98
....r-99

.12-00
12-03

40,500 total Sept.
100

For January.

11*62
11-64

11*41

15,000 total Oct.

11*40

3*0
30)

.1145

11-46
11-43
11-52

1,300 total Jan.
For
100
100
100

For November.

2,000

200

201..
£00

IPS*

3 «00

500.
500

3,900 total Dec.

11*59

200
2.0

400
300
700

11*42

11 *55

1,600

11*92
11*1*3
11-91
1.'95

Exchange closed. 11*23
11*21

11*42
11*51

January.

February

11 63
12*10
105%
4‘8j%

Marca

Tramf.ordira.
-

..

11-25
11*26
11-3)

February.
11-58
11-64
11*1.6

300 total Feb.

11*31

For March.
ron
u-70

200

11-33
1.-31

100.

600

11-35
11*31

100
lid

11-71
11*73

5 11

I.llO

1137
11-39

ICO

11*75
U-76
11*77
11- 3
11*30

1.100

ii-io

300
2U0

ll-G

100
SO"
100

11-42

7.200 total Nov.

.

.

_

1*800 total

March^

Thun.

Frl.

Stealy,
higher.

Quiet,

higher.
12-16
12 )7
11*96
11*5*
11*88
11-39

12-U

105%

105%

11-91
11-58
11*8
11 39
ll 51
li 64
ll 78
12-2 J
105%

4 63%

4 65%

4"8j%

Supply op Cotton, as made up by

The Visible

11*51
11*65

11*73
12*20
105%

435%

cable and

The continental stocks are the figures
of last Saturday, but the totals for Great Britain and the afloat
for the Continent are this week’s returns, and consequently
brought down to Thursday evening; hence, to make the totals the
complete figures for to-night (July 13), we add the item of exports
from the United StateB, including in it the exports of Friday

telegraph, is

follows."

as

only:

1874.

1875.

1876.

1877.

981,000

1,022,000

1,017,000

1,004,000

43,030

48,250

107,750

132,500

,1,021,000
211,750
8,000
72,000
16,500
.
72,250
48,500
11,500

1,154,750
170,500
9,500
75,000
14,250
45,500 s
33,250
10,000
4,750
16,000

1,126,5GB

15,750

1,069,250
159,250
8,000
81,500
13,250
53,750
61,250
15,250
18,250
23,000

464,COO

433,500

383,750

495,500

1,495,000
stocks
for Europe.... 347,000
American cotton afloat for Europe 145,000

1,502,750
403,000
121,000
27,000
232,570
31,952

1,533,500
601,000
124,000
29,000
150,627
13,503
2,000

1,622,000
556,000
90,000

Stock at Liverpool
Stock at London

Total Great Britain stock
Stock at Havre

Stock at Marseilles

,

Stock at Barcelona
Stock at Hamburg

...

Stock at Bremen
Stock at

Amsterdam

Stock at Rotterdam

7,750

Stock at Antwerp
Stock at other

continental ports..

Total continental ports

Egypt, Brazil, &c.,afloat for E’rope
Stock in United States ports......

ports
to-day

Stock in U. S. interior
United States exports

20,000
221,723
16,078
1,000

....

163,750

14,COO
74,000
28, COO
45,500
87,500

27,750
13,000
42,000

83.000

207,9€6
29,067
1,000

2,5 i9,042
2.458,630
2,318,272
..bales. 2,235,801
totals of American and other descriptions are ts follows :

Total visible supply..
Of the above, the
American—

Liverpool stock
Continental stocks
American afloat to Europe...
United States stock
United States interior

United States exports

stocks
co-day.

.

.

.

.

Brazil, dbc,—
Liverpool stock

1,204,522

1,0)9,130

425,000

436,C00
107,750

3-16,000

296,000

,

90,000
207,985
24,037

124,"00
150,6:7
13,503
2,000

1,0.0

1,000

1,085,042
543.000

•

403,000

185,750
601.000

122,500
199,500
556,000

20,000

27,000

29,000

83,000

832,000
1.403,801

1,023,750
1,294,522

1,35VOO
1,099,130

1,504,000
1,085,012

supply....hales.2.235,801

2,318,272
5%d.

2,458,630

2.53^,043
8%®8*d.

40.000
79,000
347,000

&c., afloat

Total East India,
Total American

Totalvlsible

313,000
121,000
232,570
31,952

120,5r0

London stock

Price Mid.

461.000

611,000
198,000

596,000

635,000
385,000
115,000
221,723
16,078

bales.1,403,801

Total American
East Indian,

&c

Uplands, Liverpool... 6

5-16d.

48,250
,

7d.

the cotton in sight to-night
with the same date of 1876, a
with the corresponding
353,241 bales as compared

These figures indicate a decrease in
of 82,471 bales as compared
decrease of 222,829 bales as compared
date of 1875, and a decrease of
with 1874.

Ports the movement—that is the
for the week and stock to-night, and

At the Interior

and shipments

corresponding week of

receipts

for the

1876—is set out in detail in the following

statement:
Week ending July 13, 1877.

11-31
11*32
11*34

M*0

11-52

1,500

11*91

11-25
11*26
11-28

£00
400
200

11*51

11-82

2,6)0
3,500
l,4f0

400...".

1,400

11-31

11-83

cts.

bales.

l:*49
11*50

800
501

501

1 ,<’00

1,700

For December,

.....11*43

700...

500

76.4U0 total Aug.

11*17

October
November..,,..
December.....

Egypt, Brazil,

FUTURES.

TRANSIT.

For forward delivery, the sales (including
free on board)
have reached during the week 151,100 bales (all middling or on
the basis of middling), and the following is a statement of the
sales and prices:
For July,
bales.
300
500
4(0
400
100....:
€00
200
100
600
100
300
100...
•400
2M
200
U0

September

Continental stocks
India afloat for Europe

MARKET AND SALES.

Spot Market

August

*

12-10

1207
12 08
11-93
11-57
11-35
11 37
11*80
11-63
11 "75
12-L0

12*04
12-07
11*83
11*48
11-27
11-28
11-10
11*54
11 68
12* :0

Total European

STAINED.

Good Ordinary
Strict Good Ordinary
Low Middling

Higher.

lower.

12 07
12' io
ll'Stt

July

..

Wed.

Quiet,

Market closed

Gold
Kxchaase

OLA88IPIOATTON.

Tues.

Mon,

Bat.

.

India cotton afloat

Frl.
Th.
Frl.
Th.
Frl.
Til.
Frl.
Til.
July 12 July lc July 12 July 13 July 12 July 13 July 12 July 13

Ordinary

and prices bid for

-

10%

■d"

*33 pd. to exch. £00 Oct. for Sept.

|

The following will show the closing market
future delivery, at the several dates named :

nesday, and were regarded on ’Change as not

Few Classification.

43

THE CHRONICLE.

1877.]

July 14,

Receipts. Shipments.

Augusta, Ga
Columbus, Ga
Mau.nn, Ga
Montgomery, Ala
Selma, Ala

..

Memphis, Tenn....
Nashville, Tenn...

166
31
16
21
10
260
189

Stock.

Weekending July 14, 1876.
Receipts. Shipments Stock.

1,423

8,6-8

12

1,613

95
68
39
147
35
499
6

96

322
106
192
75

2,024
1,992
673
831
251

-

431

2,024

131
29
25S

2,050
1,153
2,039

58

965

1,339

22,826

62

895

Total, old ports.

693

2,226

16,078

8S9

2,303

31,952

Dallas, Texas
Jefferson, Tex. ..
Shreveport, La
Vicksburg, Mis^....
Columbus, Miss....
Rnfanla, Ala,
Griffin, Ga

24
10
S05
7

31
276
409
116

123
33
301
534

27

318
266
194

40

7
20
142
654
5

276
77

5
3

2ii

1,551

79

289
260

***i

15

253
611
15
18
13
137

1,064
90
325
189

2,518

*i63

70
438

3,380

178
3
90
236

558

1,118

6.052

1,214

3,282

4,100
12,403

Total, new ports

1,251

2,798

12,919

2,587

5,297

21,784

Total, all

1,944

5,024

28,997

3,476

7.6T5

53,716

Atlanta, Ga

Charlotte, N.C
St. Louis, Mo
Cincinnati, Q

180
3

52

137

100
774

180

44

THE CHRONICLE

The above totals show that the old interior stocks have
decreased during the week 1,533 bales, and are to-night 15,874
bales leos than at the same period last year.. The receipts at the
lame towns have been 103 bales less than the same week last year.
Weather Reports by Telegraph.—The reportB this week
with regard to the crop are less generally favorable. Many sec¬
tions need showers very much, and others need higher tempera¬
ture as well.
But over a considerable portion of the cotton area
the conditions still continue good and prospects fairly satisfac¬

tory. We notice that in the vicinity of Indianola some damage
is reported from caterpillars.
- *
Galveston, Texas.—The weather during the week has been terribly hot. We have had only one shower and are needing more
rain badly locally, but not in other sections of the coast, us the
caterpillar has done some damage. The first bale of the new

’

received to day (Friday) from Rio Grande, and sold for
The thermometer has averaged 8(5, the highest
being 96 and the lowest 78. The rainfall has been twelve hun¬
crop was

twenty cents.
dredths of

an

inch.

Indianola, Texas.—We have had one shower during the week,
the rainfall reaching twenty hundredths of an inch. The ther¬
mometer has averaged 85, the highest being 95 and the lowest 76.
North and west of here caterpillars have done much harm, and

dry weather is wanted.
Corsicana, Texas.—There has been

a

shower here this week,

[Yol. XXV

Charleston, South Carolina.—There have been showers here on*
days, with a rainfall of one and sixty hundredths inches.

two

The thermometer has averaged 81, the highest being
lowest 73.
The following statement we have also received by

92 and thetelegraph,

showing the height of the rivers at the points named at 3 o’clock
July 12.

We give last year’s

figures (July 13, 1876) for

com¬

parison:
-July 12.
Feet.

Below high-water mark
.Above low-water mark
.Above low-water mark
.Above low-water mark
Above low-water mark

.--July 13, ’76..
Feet.
5
24

Inch.
5
3

.

...

...

2

9

17
33-

2

-

5

4

14
39

Inch,
6
4

10
10
3

New Orleans reported below high-water mark of 1871 until
Sept. 9, 1874, when the zero of gauge was changed to high-water
mark of April 15 and 16, 1874, which is 6-10ths of a foot above
1871, or 16 feet above low-water mark at that point.

Cotton Exchange Reports

the Cotton

for

July.—The following are

Exchange reports for July, issued this week:

({uestions.
First
June 1st?

Question,—What has been the character of the weather since

Second Question.—Has the weather been more favorable or less favor¬
hundredths of an inch. The able up to this
period than daring same time last year ?
thermometer averaging 84 and
Third Question,—Has there been an increase or decrease in lacderanging from 71 to 102. The crop is developing promisingly.
planted in cotton since your last report ? State percentage ofyincrease or
Dallas, Texas.—It has been hot this week, and rain is needed decrease, and for what causes.
Fourth Question.—How are the stands in your section, and is the
north and east.
The weather has been dry without rain and the
•
promise is good, provided we have rain soon. Average ther¬ plant forming and bloming well ?
Fifth Question,—What is the present condition of the cotton crop in'
mometer 90, highest 98 and lowest 76.
New Orleans, Louisiana.—It has rained on two days of the your section, and how does it compare with same time last year ?
Sixth Question,—State any favorable or unfavorable circumstances’
week, the rainfall reaching thirty seven hundredths of an inch. relative to the growth and condition of the cotton crop in your section, not
The thermometer has averaged 86.
covered by tbe above questions.
Shreveport, Louisiana. — Prospects continue promising, al¬
Norfolk Department.
though rain i9 badly needed and would prove beneficial. We
The
Norfolk
Cotton
have heard no report of worms.
Exchange (H. S. Reynolds, Chairman; Asa Biggs, and C.
Average thermometer 85,
W. Grandy,Committee on Information and Statistics) issues the following.'
highest 99 and lowest 72. The rainfall is eighteen hundredths of report,
covering the State of Virginia, and the following Counties in Norths.

the rainfall reaching sixty-two
weather has been very hot, the

an

inch.

Carolina: Rutherford, Lincoln, Catawba, Rowan, Davidson, Iredell, Burke,

Vicksburg, Mississippi.—The thermometer has averaged 85
during the week, the highest being 98 and the lowest 70. There
has been

no

rainfall.

Caldwell, Alexander, Davie, Forsythe, Yadkin, Stokes, Surrey,.
Rockingham, Caswell, Person, Granville, Warren, Franklin, Nash, Wake,
Hyde, Pitt, Green, Cartaret, Craven, Beaufort, Tyrrel, Washington, Martin,
Bertie, Chowan, Pasquotank, Camden, Currituck, Gates, Hertford, Northamp¬
Wilkes.

Columbus, Mississippi.—The weather during the week has been ton and Halifax.
warm and dry.
North Carolina and Virginia*—45 replies from 31 counties.
The thermometer has averaged 83, Jhe highest
being 96 and the lowest 74. The fields are clear of weeds, but
Twenty-two replies'report the weather in June not so favorable to the
the plant is suffering from drought.
growth of cotton, while twenty-three replies ' report the weather beingfavorable.
Five replies report the weather up to this period to be more
Little Rock, Arkansas.—The weather during the week, ex¬
favorable for cotton ihan last year. Four replies report the weather about the
cepting Friday and Saturday, has been pleasant, and tbe nights 6ame, while thirty-six replies report tbe weather less favorable than last year.
have been cool. We have had no rain this week, and some An increase in lands planted is reported by two replies ^eighteen report the
localities are needing it. Crop reports from tbe eastern part of the amonnt of land planted to be about the same, while twenty-five replies report-,
a decrease of from 10 to 20 per cent.
Thirteen replies report the stands toState are not so favorable as a week ago.
Average thermometer he good and forming well, but with few blooms, while thirty-two replies*
$1, highest 98 and lowest 67.
report the stands not very good, not forming well and with no blooms. The
Nashville, Tennessee.—It has rained on one day this week, condition of the crop is reported by seventeen replies to be good, but about
with a rainfall of eighteen hundredths of an inch. The ther¬ ten day6 to two weeks later than last year ; three replies report ih* condition
to be better than last year, while twenty-five replie* report the condition of
mometer has ranged from 71-to 92, averaging 82.
The crop is the crop not so good and about two weeks later. The damage done by lice
and grass is spoken of as being very general.
developing promisingly..
Memphis, Tennessee.—The rainfall for the week is one inch
Charleston Department
and six hundredths.
The days have been warm but the nights
covers the State of South Carolina, and is prepared and issued by theGood progress is being made in clearing the
have been cold.
Charleston Cotton Exchange, through their Committee on Information and
fields of grasB and weeds, but it loosens and damages cotton. Statistics, composed of Jas. S. Murdoch, Chairman, Robert D. Mure, J. W..
Lewie, L. J. Walker, J. Adger Smyth.
Average thermometer 83, highest 94 and lowest 67.
Mobile, Alabama.—The weather during the week has been
South Carolina*—Condensed from replies of 96 correspondents
warm and dry, no rain having fallen.
The crop is making good in 30 counties.
progress generally, but accounts are less favorable, and they are
The first part of tbe month was dry, afterwards showery, and in portions'
needing rain badly in some sections. The thermometer has of the State very wet. Fifty-eight report the weather for the month favora¬
ble ; thirty-eight report too wet and unfavorable ; thirty-eight report it more
averaged 87, the highest being 99 and the lowest 74.
favorable iban last year ; thirteen report as about the same; forty-five report
Montgomery, Alabama.—There has been no rainfall here this less favorable. Eighteen counties, containing two-thirds of the
acreage of the
week and the weather has been warm and dry.
The crop is State, report a decrease in acreage since last report, owing to bad stands, &c.,
and corn being substituted) from 2»4 to 15 per cent, and one county an
developing promisingly. Average thermometer 85, highest 100 (grain
increase of 2 per cent, the average for nineteen counties being a decrease of
and lowest 73.
3 per cent, equal to a decrease for the State of 2 per cent. Tiie stands are
Selma, Alabama.—The weather during the week has been warm reported fair to good by sixty-four, and bad by thirty-two In the upper and
and dry.
The cotton plant is developing promisingly, but corn middle counties no blooms are reported ; in the lower counties a few bloom* *
have appeared. The condition or the crop is reported by twenty as good,
is needing rain badly.
and better than last year; by thirty-six "healthy and clean, but late ten to
Madison, Florida.—We have not received our usual telegram fifteen days, and by forty, fields grassy, cotton late, condition bad, not so
'

bs'

to-night.
Last week it rained
hundredths of an inch.
_

good

day, the rainfall reaching ninety
The thermometer had averaged 86, the
extremes being 94 and 78.
Tbe rain of Thursday (5th inst.; had
been very much needed and had greatly improved the appearance
on

ns

last year.

Lice are reported in seven counties.

one

•f the crops.

Macon, Georgia.—The weather has been
week.
The thermometer has
and the lowest 63.

warm and dry all this
averaged 84, the highest being 97

Atlanta, Georgia.—We have had

one

shower this week, with

rainfall of twenty-five hudredths of an inch.
The thermometer
has averaged 79, the extreme range being from 76 to 92.

a

Columbus, Georgia.—We have had rain this week, but not

enough to do much good. There are rumors of the appearance
caterpillars, but we do not attach much importance to them.
Crop accounts are less favorable. The thermometer has aver¬
aged 87, and the rainfall has reached twenty-five hundredths of

Savannah Department.
Northern, Middle, and Southwestern Georgia (being all of
Georgia, except the 23 counties in charge of the Augusta Cotton Exchange)
and the entire State of Floinda. The report is prepared and issued by tbe
Savannah Cotton Exchange, through their Committee on Information and Sta¬
tistics, composed of J.IL Johnston, B. A. Hart, ClaviusPhillips, J. J. Wilder
This report covers

and L. G.

Young.

Georgia.—There

were

97 replies from 59 counties

The weather has been generally favorable since
the dry spell .in May being succeeded by abundant

:
the report of last momb,

rains. Stands good, the

plant forming well, »ut not bloomiDg to any great extent, being universally
reported as two weeks later than.last year at this time. The condiiion of the
crop

is good, and though backwaid, is well cultivated and promising. There
few but unimportant complaints of cut worms and lice. The least

are gome

of

favorable reports are from Southwestern Georgia, but we consider these ascounterbalanced by those from the upper and middle sections of the State:

an

The-weather has been generally dry, but favorable.
Stands of cotton some¬
what irregular, and the plant about two weeks later, but the general condition

inch.

Savannah, Georgia.—It has rained on four days this week, the
rainfall reaching three inches and eight hundredths1, but the rest
of the week has been pleasant.
Average thermometer 81,

highest 94 and lowest 64.
Augusta, Georgia.—The earlier part of the week we had light
rain on one day, but the latter part has been clear and pleasant.
Crop accounts are very favorable. Thermometer: highest 95,
lowest 68, average £2. Rainfal1, two hundiedths of an inch.




Florida*—34 replies from 15
compares favorably
of the appearance of

counties:

with last year at this time. There are some few reportscaterpillars, but as yet no damage sustained.

Augusta Department
the counties of Georgia not included in the Savannah Report,
and is issued by the Augusta Cotton Exchange, throngh their Committeeon Information aDd Statistics, composed of L. L. Znlavsky, Chairman. R. W.
covers

Heard, A. M. Benson, W. Daniel, W. M. Read, H. Franklin, C. A. Rowland.

Georgia,—41 replies from 18 counties.

July

Weather favorable since 10th of June. There ie no increase in acreage,
except in a few counties of about 5 per cent. The condition of the crop about
rthe same as last year, but from 10 to 15 days later. There is some complaint
of lice and cut-worms, but no material damage done.
•

Mobile

Department

the State of Alabama as far north as the summit of the Sand
Mountains, and the following counties in Mississippi: Wavne, Clarke, Jasper,
Lauderdale. Newton, Kemper, Nesholso, Noxubee, Winston, Lowndes,
Oktibiba, Colfax, Monroe. Chicasaw, Itawamba, Lee, Pontotoc, Prentiss,
Alcorn and Tishamingo. The report is prepared and issued by the Mobile
Cotton Exchange, through their Committee on Information and statis¬
covers

.

tics, composed of T. K. Irwin, chairman, Julius Buttner, A.

M. Willmarth, J

O. Bush and S. Haas.

Alabama.—45 counties forward 121 letters of average date of

July 1

:

generally seasona¬
ble; twenty-six counties reporting seasonable, thirteen very favorable, six not
favorable, on account of too much ram. Compared with last year to this
period, fourte^ n report the weather equally as favorable, nineteen more, twelve
jess, the latter being from the extreme northern and southern counties.
'Thirty counties report no increase or decrease in acreage since the 1st of June,
10 report an increase of from five to ten per cent; 5 report a slight decrease,
owing to defective standi. Tne stands are reported good to fair in thirtyeight, very good in three, not good in two and bad in two ; twcntr-eight report
plants blooming and forming well, fifteen not blooming and forming wpll and
2 not blooming yet. The present condition of ihe crop compares favorably
with last year, twenty-five counties reporting it good, eight better and twelve
not so good.
Niue counties report the crop fourteen days later than last year,
nine ten days later, three seven days later and the rest the same as last year.
Pour counties report the appearance of a few caterpillars, but no damage has
yet been done by them. A few counties complain of lice and cut-worms.
Plants are tough, small and in favorable condition.
The character of the weather since the 1st of June was

•

Memphis Department
the Tennessee River, and the fal¬
lowing counties in Mississippi: Coahoma, Panola, Lafayette, Marshall,
De Soto, Tunica, Benton and Tippah, and the State of Arkansas north of the
Arkansas River. The report is prepared and issued by the Memphis Cotton
Exchange, through their Committee on Information and Statistics, composed
of Sam. M. Gates, Chairman; J. T. Fargason, Benj. Babb, Chas. G. Fisher,
J. M. Fowlkes, David P. Hadden, A. G. Harris.
To the President and Board of Directors of the Memphis Cotton Exchange:
Gentlkmbn—We respectfully submit the following report, iu response to
interrogatories dated and mailed June 25. The report is derived from 165
responses, of average date July 1, to wit: 47 from West Tennessee, 55 from
North Mississippi, 52 from Arkansas (north of Arkansas River), and II from
North Alabama. The latter is not included in our aggregate report, not
being embraced in territory allotted us by the National Cotton Exchange.
The leading points to which we would call your attention are. first, the
decreased acreage from our May report of 6 per cent, caused by the destruc¬
tion of stands by the great rain-storms of 8th and 9th of June, when during
36 hours 13)4 inches of rain fell. Our report of June 9 indicated that there
would be 2,^ per cent of corn planted iu June. By this report, yon will note
that the planting of corn has been increaeed to 9 per cent, which would seem
to evidence that 6 per cent acreage of cotton stands oestroved has beeu
included in corn planting, less that which has been entirely abandoned. The
general tenor of our correspondence indicates that eorn, wheat and oat crops
nave had precedence in care this season.
The cotton crop at the close of
June was excessively overrun with grass and weeds, but our correspondent*
intimate that with 7 to 10 days favorable weather the crop will be well
cleaned, but, at the same time, they in many cates call attention to the
spindling growth of the plant and lack of forms for fruit. It is worthy of
note that the per cent of yield from the harvested wheat crop h is been raised
from 2S per cent in May to 31 per cent. The oat crop is a good one. and has
been mostly harvested.
Millet an 1 grasses, as also the pork crop, are
promising; and, not least, laborers are snowing an efficiency beyond any

during June

as follows;
nnfavorab’e in seven and too wet in three, as compared
period last year. Eight report more favorable weather, eleven

Favorable in ten,

with the same
less favorable and

one

about the

same.

There has beeu

planted since June 1 in fourteen,

no

an increase of live to
per c nt in four.
Cotton

change in acreage

ten per cent in two,
stands are reported

and a decrease of three to five
Good to fair in eighteen counties, not so good as last year in one
as follows
and bad in one; plants are blooming well in two, just commencing to bloom
in eight and no blooms in ten. The condition of the crop as compared with
last year is generally reported as good, but later—how much later is not stated
—six counties report too much rain and the crop grassy ; thirteen, the condi¬
tion good but the crop late; five, the condition not good, and two, the condi¬
tion bad. No worms are reported.

Now Orleans Department
not apportioned to the Memphis
State of Louisiana and the State
of Arkansas, south of the Arkansas River.
The report is prepared and
issued by the New Orleans Cotton Exchange, through their Committee on
Information and Statistics, composed of Harrison Watts, Chairman, L. F.
Berje, E. F. Golsau, William A. Gwyn, Edward Morphy, R. C; Cammack,

the State of Tennessee, west of

covers

season

Mississippi*—62 letters received from 20 counties report the
weather

46

THE CHRONICLE

14, 1877.]

since the

war.

West Tennessee.—47 responses.
Weather: 39 report first week in June warm and very dry, balance of month
attended with excessive and frequent rains; 8 report very favorable. Com¬
pared with 1(776: 35 report less favorable. 7 about same, 5 more favorable.
June planting: there has oeen no Juue planting of cotton, save to replenish

Cotton stands: 5 report superior stands, 33 good. 9 small
of the good, 4 report very small but plentiful ; 28 report forming
well, 19 but few forms, 14 but few blooms, and 31 none Condition of crop :
the crop is reported 9 days later in forwardness than 1876, 8 report well culti¬
vated, free of grass and weeds. 34 nof well cultivated and very ga*sy, 31 too
wet to cultivate; average damage by storms, 5 per cent;
2 report better con¬
dition than 1876, 8 report about same, 37 n »t so good. Ltbor moral : 8 report
laborers working better tha i ever, 36 working well, 3 only moderate^, owing
to discouraging condition of crops.

damaged stands.
and thin ;

North

Mississippi.—55

Weather: 52 report first

responses.

week dry and

balance of month excessively

that part o! the State of Mississippi
and Mobile Cotton Exchanges; the entire

wet.

aud L, Lacombe.

few forms, 17 report few blooms, 38 none. Condition of crop : 5i report later,
4 about same, average 9 days later iu condition, 6 report well cultivated, free
from grass and weeds. 49 not well cultivated, very grassy. 33 too wet to cul¬

covers

Louisiana*—Fifty-nine

answers

from 27 parishes

; average

date, June 30:
All report the weather during the month as good, and much more favor¬
able to the plant than same time last year. Since the last report there has
been no increase or decrease in the quantity of lands planted iu cotton
The

represented as good. The plant is generally' formiag and bloom¬
ing well; its present condition is go >d a d much better than last year. In
some sections of Rap dss and St. Landry parishes, caterpillars have put in an
appearance, but no damage is reported.

elands

are

Mississippi*—79 reports from 33 counties, dated from June 27
to

July 5:

,

The character of the weather has been generally more favorable than last
year. There has been no material change in acreage.
Stands are very
ge neraliy reported as good, plants forming well, and few blossoms as yet.
■C ondition good, though plants are from eight to ten days Jater compared with
1 ast year.

Arkansas.—Our report is

made

up

from 46 replies from 27

tivate ; an average of 6 per cent damage by storms is reported; 1 reports con¬
dition betterdban 1816, 4 report about the 8iin:-, f»i» not so good. Labor
-morale: 9 report working never better, 40 working well, 6 oi ly moderate, dis¬
couraged with condition of crops. *

Arkansas.—52 responses.
Weather: 46 report first week dry and warm, balance o' month excessive and
frequent raine; 5 very favorab e. Compared with 1876: 42 report weather much
less favorable,6 about same. 4 more favorable. June Planting: No Juneplanting
of cotton, save in a small way to replen.sh damaged stand*.
Cotton Stands:
3 report superior stands, 41 good, 8 thin aud small; of the good, 2 report
small but plentiful, 25 report forming well, 27 but few forms. 14 few blooms,
38 no blooms. Condition of Crop: 41 report later thau 1876 in condition, 11
sam*; average, 8 days later; :3 report well cultivated, free ot grass and
weeds; 39 not well cultiva ed, very grassy; 10 too wet to cultivate; 7 per
cent damage is reported by storms ; 3 repoft better condition than last year,
14 about same, 35 not so good.
Lat or Morale: 2 report working never better,
45 working well, 19 only moderately wel:, discouraged with unfavorable con¬
dition of crops.

North Alabama.—11 responses.

counties:
The weather has been less favorable than same time last year, and much
complaint is made of too much rain, causing a slight decrease of. say, l per
cent in the acreage as last reported.
The stand-* are, however, represented as
good; but the present condition does not compare favorably with last, the

plant being small, backward by ten days, and the fields grassy.

Galveston Department
of Texas, and was prepared and issued by the Galveston Cotton
Exchange, through their Committee on Information and Statistics, composed

covers

the State

of John

Dreier.

Focke, Chairman, G. A. Hill, H. I. Anderson. G. W. Embrey aud. H.

Texas.—
The weather since June 1 has been very favorable in 41 counties
and unfavorable in 14, while 15 report exees-ive rains. Compared with
las~ year the weather has been the same in
12 counties, more favor¬
able in 32, aud less favorable in 26. The small increase iu planting since the
last report in four counties has been due to the wheat failure. The stands

good in 61 counties and very poor in 6. Toe plant is blooming and
boiling well iu 53 counties, while in 15 excessive rains have caused too rapid
growth. The present condition is good in 43 couuties, poor in la, very poor
m 2. and the same as lm-t year in nine. Twelve counties report the crop threa
weeks late, 24 two weeks late and 34 the same as last year. Caterpillars have
appeared, and are doing some damage iu four counties.

are

Nashville Department
River, and the following
Frauklin, Colbert, Lawrence, Morgan,
Limestone, Mad.son, Marshall, Jackson, DeKalb and Cherokee. The report is
prepared and issued by the Nashville Cotton Exchange, through their Commit¬
covers

Middle

Tennessee east of

the Tennessee

Counties of Alabama /—Lauderdale,

tee on Statistics and

Tennessee.—31

Information.
answers:

„

.Twenty-one report totf much rain in the first part of the month, but dry and
warm during the last part; 10 report too muen rain.
Twelve report more
favorable ; la report less; 4 report same as last y.ar. Sixteen report decrease
of about ^0 acres; 14 report same as last year; 1 reports an increase of 10
acres.
Twenty report stands good; 6 report stands poor; 5 report blooming
well; 4 report bloomiug poorly; 22 report no blooms yet; 27 report rorming
welf; 4 report forming poorly. Seventeen answers report in good condition ;
13 report in poor

condition; 13 report clear of grass; 8 report grassy.
answers from 11 counties:

Alabama.—30

Four report too much rain; 8 report dry weather; 8 report favorable
weather; 8 report first part rainy, second part dry. Tweuty report less favor¬
able; 6 report more favorable ; 4 same as last year. Ten report plautiug over
at last report; 8 report
same amount as last year; 6 report a decrease;
7 reportun increase.
I’wenty-six report stands good ; 5 report stands poor;
20 report blooming well; 8 report blooming
poorly ; 10 report forming well;
9 report no blooms at all. Labor is much more easily controlled thau last year,
aud the laborers




aie more

industrious.

warm,

Compared with 1876: 51 report much less favorable, 4 more favorable.

June planting: no planting, save in a small way to replant damaged stands.
Cotton stands: 3 report superior stand*, 41 good, 11 small and thin stands ;
of the good. 2 report very small but plentiful, 37 report, forming well, 18 but

Weather: 9 report first week dry and warm, balance of month excessively
wet; 2 very favorable
Compared with 187b: 7 much less f .vorable. 2 about*
same, 2 more favorable. June Planting: none. Stands: l reports superior stands,

report good, 3 small and thin, 3 of good thin but plentiful; 8 report forming
well, 3 but few forms, 11 no blooms.
Condition of Crop: All report crop
later than last year, average 9 days; 4 report crop well cultivated, 7 not well,
very grassy; 1 too wet to cultivate; 1 per cent damage reported by storms; 1
reports better condition than 1876, 1 ubout same, 9 not so good. Labor
Morale: lJ report laborers working well, 1 reports only moderately.
7

Cotton

Exchange

Crop Reports

for

July.—We hare

attempted to analyze aud bring together in a brief space the
results which the Cotton Exchange crop reports indicate this
month, but find it quite impossible to do it satisfactorily. Is it
not practicable and desirable for each exchange to incorporate in
its report the average opinion of its correspondents on each ques¬
tion ?
The more general custom now is to say, for instance, that
a certain number reply the
weather is more favorable, a certain
other number less favorable, and a certain other number as favor¬
able as last year ; could not there be added to this an average of
all the counties of each State covered by the department ? The
Memphis Department gives a general average of the whole de¬
partment but not of each State in it, and some of the other
exchanges give the average as we suggest; but the most of them
put their report iu the form of the iustance given above. If the
change we propose could be adopted and become general, it seems
to us that it would make the reports much more useful.
First Bale of Cotton.—The first bale of new cotton this
season

at New Orleans was

Its weight was 475 lbs.
It was
of Marion & Fallin, in Cameron County.
Texas.

The first bale of

new

11 from Brownsville,
raised on the plantation

received July

cotton at Galveston was received

to-daj

(Friday) from Rio Grande and sold at 20 cents.
Bombay Shipmbnts.—According to oar cable despatch received
to-day, there have been 4,000 bales shipped from Bombay to Great
Britain the past week, and 2,000 bales to the Continent; while
the receipts at Bombay during this week have been 3,000 bales*

[VOL. XXV.

THE CHRONICLE

46

ah follows.

The movement since the let of January is
the figures of W. Nicol & Co., of
down to Thursday, July 12:

The

These are

Bombay, and are brought

13, OX)

Total.

753,000
861,000

395.000
337,000

358,090
529,000

6,000

2,000
9,000

4,000
4,003
4,000

1877
1876
1875.....

Con- ‘
tinent.

Great
Britain,

HEW YORK.

r-—Receipt*.——
This
Since
week.
Jan. i.
3,000
978,000
4,000
974,000

.—Shipmentssince Jan.l-.

.-Shipments this week-,
Great
ConBritain, tinent. Total.

of cotton at New York, Boston,
past week, and since Sept. 1, ’76*.

following are the receipts

Philadelphia and Baltimore for the

bece’ts from

New Orleans..
Texas

147,543

913
c05

84,984

124,097

1.177

26,591

1,347

7,502

5,930

909,157

5,231 333,698

insufficient rain.

7,308

906,012

2,217 289,859

...

Gunny Bags,
in the market.

Total last year.

Bagging, Etc.—There is no
The demand is only small at

change to report
the moment and

13*103

346

100.371

95

78,909

548

221.978
12.170

85
310
385

...

This Since
week. Sept.1.

This Since
week. Sept.1

15,353
9,546

there is a decrease of 7,000 bales this year in the week's Florida
shipments from Bombay to Europe, and that the total movement 9’th Carolina
since January 1 shows a decrease in shipments of 113,000 bales, N’th Carolina.
Virginia
compared witn the corresponding period of 1876.
North’rn Port?
Our despatch from Bombay says the growing crop is being Tennessee, &c
injured, and the reports are therefore less favorable. It does not Foreign.."
state the cause of the injury, but we presume that it is from Total this year
year,

BALTIXORB.

Sept. 1. week. Sept.1.

2,943

Savannah.-....
Mobile

PHILADKLP’IA

Since

This

Since

This
week.

3,000 1,222,000
7,000 11,000 769,000 396,000 1,165,000
From the foregoing it would appear that, compared with last

BOSTON.

•

81,194

46

,

,

,

.

.

.

44,598

....

....

1,093 130,380

1,196 62,332

614

52,161

.338

5,500

«•••

...

....

49

....

....

,

19,088
13,538
58,651

251
11
618

....

•

179

....

....

•

....

2,139 99,049
522 98,909

120,990
5,007

•

•

-

..

....

•

23,554

213
.

....

....

....

....

14,954

548

..

.

2,780

....

1,017

109,509

from the United
latest
mail
returns,
have reached
parcels are small; prices are steady, holders asking 12£c. for 13.354 bales. So far as the Southern ports are concerned,
these
standard quality.
Bales are nominal and unchanged at 10c.
are the same exports reported by telegraph, and published in
Bags are quoted at 12c. for 440s. Butts still continue in small
The Chronicle last Friday.
With regard to New York, we
request and the market is dull; small parcels are moving; prices Include the manifests of all vessels cleared up to Wednesday
are rather firmer, and holders are now quoting 3£c., currency,
for

Shipping News.—The
States the past week, as

July 13—5 P. M.—By Cable from Liver¬
pool.—Estimated sales of the day were 10,000 bales, of which
1,000 bales were for export and speculation. Of to-day’s sales
7,400 bales were American. The weekly movement is given as
lollows:

June 22.

49,000
5,000
29,000
29,000
2,000
2,000
6,000
6,000

hale?.

Sates of the week

Forwarded
Sales American
of which exporters took
of which speculators took
Total stock
of which American
Total import of the week....

.

9,000
6,000

Mid.

250,000
250,000
108,000
108.000

.

.

N*w

July 13.
57.000

Texas—To

37,000
4,000
4,000
931,000

652.000

635,000

47,000
41,000
5,000
237,000

31,000
21,000
3,000
225,000
68.000

77,000

Liverpool, per

Baltimore—To Liverpool, per steamers Yruracbat, 138
537 and 28 bags
.
Boston—To Liverpool, per steamer Massachusetts, 1,355
Philadelphia—To Liverpool, per steamer Quebec, 200
AI
To Liverpool, per ship Alameda,
10
San Francisco

dally closing prices of cotton for the w eek:
Mon.
Tues. Wednes. Thurs. * Fn.
..@6 5-16 ..@6 5-16 ..@6 5-16 ..@6 5-16 ..@6 5-16
..@6#
..@8#
..@6#

Upl’ds

Mid. Orl’ns

Futures.
These sales are on

the basis of Uplands, Low

wise stated.

Middling clause, unless other¬

‘

‘

“

‘

are as

(foreign)...

13,354

follows:
Liverpool.

New York....
New Orleans

....

.

Texas
Baltimore
Boston

Saturday.
sales Nov.-Dec.
6 5-16.1.

shipment, new crop, sail.
Jnly-Aug. delivery. 6 7-S2d ; also
of the ame at Citfd.; aiso tales of
July-Aug. delivery, 6^^.
the same at 6 7-32d.
Sept.-Oct. delivery, 6 13-32d.
Aug.-Sept. delivery, 6 5-16d.
Nov.-Dee. delivery, 6^d.
.

Sept.-Oct. delivery, 6^d.
Oct.-Nov. delivery, 6 13-32d.

in our usual form,,

particulars of these shipments, arranged

Charleston

Below

Bremen.
580

2,556

•

•

•

•

.

.

;

Barcelona. Malaga.
m

•

302

.

.

.

.

•

•

•

•

530

1,250

•

•4*

•

^

V. Cruz.

....

m

«

•

.

.

.

...

..

1,499

,

703

....

....

....

—

give all news

.

302
703

....

....

....

....

530

1,250

302

.

4,949
4,336

.

....

*•

•

580

we

.

.

....

...

....

...

.

....

....

200
10

•

Total*,

1,199

...

Philadelphia..
San Francisco
Total.

4,369
580

2,556
1,250
630
S02
1,4.9
Hibernian,
703
1,855
200
10

Total..-

The

table will show the

Satur.

510

brig Rosita, 3U2 Upland
bars Sarah Douglas, 1,494

Charleston—To Barcelona, per

3.000

838

..Ithuriel,

\
56
To Malaga, per bark Rosario, 1.250
To Yera Cruz, per steamer City of Merida,

1,006,000

7.000

1,009,000
642,000
33,000
20,000
4,000
253,000
103,000

657,000
657,000

of which American

45,000
5,000
28,000
2,000
4,000

4.000

£0,000

Actual export
Amount afloat
of which American

July 6.

55,000
37,000
2,000

.1,030,000
1,030,000
.

June 29.

Total bales.

York—To Liverpool, per steamers England, 632....La Place,
per ship Malabar, 2.849
To Bremen, per steamer Neckar, 580
.
New Orleans—To Liverpool, Der steamers Jamaican, 2,500..

Liverpool,

SifGt.

per

night of this week.

parcels.

The tollowing

exports of cotton

-

received to date of disasters,

vessels carrying cotton from United States ports :
Alice, str. (Br.), Ellis, at Liverpool, from New Orleans, before
having been in collision with bark Margaret (Br.), at

1,855
200
10

13,354

&c., to

reported as
Liverpool from
Mobile, had bulwarKs, rigging and davits damaged. Injury to latter
Aug.-Sepr. delivery, 6%@ll-32@^d.
vessel said to be s ight.
Sept.-Oct. delivery, 6 7 led.
Gov. Morton, ship, Davis, from New Orleans for Grimsby, E., before report¬
Oct.-Nov. shipment, sail, 6^d.
ed, while Jying at anchor at Southwest Pass, July 2, was struck by
.Tuesday.
lightning. The captain and crew escaped with a portion of their effects
I Nov -Dec. shipment, sail, 6 5-16d.
Jnly-Aug. delivery, 6Jtf@7-82d.
and the ship’s papers. A boat with stevedore and laborers were sent
! Sept.-Oct. delivery, 6 ll-32d.
Aue.-Sept. delivery. fi 5-16^9 82d.
She was pumped out and raised, and
from New Orleans to the wreck.
Sept.-Oct. delivery, 6%d.
|
being towed up to the c ty on the 6th. She has been libeled by
Wednesday.
towboats claiming salvage on vessel and cargo. About 800 bales of
cotton have been discharged iato barges.
The cargo is insured in
July-Ang. delivery, 6 7-32@Kd.
I Nov.-Dee. shipment, sail, new crop,
European offices. The ship was valued at $50,000, aud is insured for
Aug.-Sept. delivery, 6 9-32@5-16d.
j 6 ll-82d.
Monday.

July-Ang. delivery,

Nov.-Dee. shipment, sail, 6%d.
| Oct.-Nov. delivery, 6 l.VS2d.
Aug.-Sept. delivery, 6 ll-32d.
| Sept.-Oct. delivery, 6 13-32d.

6 9-32@5-16@9-32d 1

was

Sept.-Oct. delivery,

Oct. Nov. delivery,

i July delivery, 6 9-32d.
| July-Aug. delivery, t&d.

6%@lS-32d.

6

13-32^7-lGd,

one-half the amount.

Cotton freights

Thursday.

July-Aug. delivery, 6 9-320.
Nov.-Dee. shipm’t, sail, 6 ll-S2d.
Sept.-Oct. shipra't. sail, 6 7-16d.
Sept.-Oct. delivery, 6J£d.

July-Aug. delivery, 6Vd*
Aug.-Sept. delivery, 6 5-16d.
Sept-Oct. delivery, 6J£d.
Sept.-Oct. delivery, 6 13-32d.

d.

Friday.

Same

■XPOBTSD TO

Liverpool
Other British

Forts

Total to Gt.
Havre
Other French

Britain

June
20.

June
27.

277

8,028

3,208
8,485

July

4.

11.

535

8,028

4,363
....

....

535

4,369

350

ports

Total French
Hamburg
Other ports

....

100
18
•

••t

Grand Total

100
•

•

•

..

.

5S0

300

•

....

•

.

....

....

100

300

•

•

year.

331,573

365,759

35.431

4,423

367,0)7

370,178

9,033

3,297

9,038

3,297

15,029
2,8.8
C, 171

22.635

24,078

66,076

.

•••

•

period
prev’uh

•

560

8,501
31,9)7

•

•

•

•

....

•

* •

....

....

•

•

12
409

•

•

2890
750

•

•

....

....

3,610

421

•

•

....

•

4 >3,763

439,972

Spain, Oporto* Gibraltar&c
Total Spain, dec

350

....

118

Total to N. Europe.
Ail others

.

....

Bremen and Hanover




July

Total
to
date.

3,603

8.128

1.185

4,949

Saturday
Monday.;.. }£(@9-32

Tuesday... 3* @9-32
VVedn’day. 3f(@9-‘)2

Thursday.. X@9-32
Friday
it @9-32
Market quiet.

Sail,
d.
X
%
M
H
Jtf.

C.

C.

C.

C.

C«

Ci

C»

Exchange closed

comp.
comp,
comp.
comp.

comp.

BRE

been as follows:

,—Havre.—,.—Bremen.—>,—Hamburg.-,
Steam. Sail.Steau.
Sail. Steam.
Sail.

Liverpool.—
Steam.

Sept.-Oct. delivery, 6 13-320.
July-Aug. delivery, 6 9-32d.
Aug.-Sept. delivery, 6 5-lti@ll-32d.
The Exports of Cotton from New York, this week, show an
increase, as compared with last week, the total reaching 4,949
bales, against 1,185 bales last week. Below we give our usual
table showing the exports of cotton from New York, and their
direction, for each of the last four weeks; also the total exports
and direction since Sept. 1, 1876; and in the last column the total
for the same neriod of the previous year:
Bxporttof €otton(balea) from New York since Sent. 1, 1876
WEEK ENDING

the past week have

%
%
%
X

comp.
comp.
comp.
comp.
comp.

—
—
—

—
—

9-1 o
9-16
9-16
9-16
9-16

comp. — M comp. —
comp. — X comp —<&—
comp. — % comp. —(@—
comp. — % comp. —<@—
comp. —

% comp. —

ADSTUFFS.
Friday. P.

M., July 13, 1877.

supplies of leading grades of flour continued exceptionally
small, and the necessities of the regular local and shipping
trades compelled them to purchase on a pretty liberal scale,
which enabled holders to obtain steadily-advancing prices for the
first half of the week.
On Wednesday, however, some re-action
set in, especially for low shipping extras.
The choice brands—
those at $9 aud above—continued very scarce, and did not give
way. Receipts at the West now compare more favorably
last year, and receivers seem inclined to sell promptly on arrival,
as well as clear out stocks in store, yet seem to be under no
necessity to make material concessions. Rye flour and corn meal
were also higher early in the week, but are latterly dull.
To-day
the market was fairly active for export, but at some decline for
low extras, and new Southerns were slow of sale.
The wheat market was also stranger early in the week ; No. 2
Milwaukee spring selling as high as $1 70, and No. 2 Chicago at
$1 62@1 G3, but these prices checked business, and weakness waB
developed under increased offerings of winter wheat from
South. A feature of the week was the opening of speculation in
The

with

the

47

THE CHRONICLE

i4, 1877.1

Jbly

September. There were
on Wednesday large sales of No. 2 red winter for August at
$1 43@1 44|, but yesterday prices dropped to $1 41@1 42, with
$1 30 bid and $1 32f asked for No. 2 spring, September deliv¬
ery.
The weather has been more favorable for the crop. To¬
day, old wheat on the spot was firm and in fair demand, but new
wheaton the spot in better supply and lower; but for August
delivery, 64,000 bush. No. 3 red winter were taken for the Con.

deliveries at this market for August and

$1 43.
Indian corn has been

tinent at

Corn,

Oats,

bush.

bush.

bush.
925.153

418.655'

388,858

1,100

26.500

10>,557

242,991

44,000
74,681

In
In
In
In
In

427,263
308,527

1,877,839
29,261

803,059
30,561

9U,0mJ
-

5,589
891
....

1C9.133
82,476

C59‘i6i

92,434
3,600
5,678
107,951

170,569
54,605
91,149
4,454

25,000

28,589
58,208

109,124

9\366
79.691

14,918
50,0(0

bush.
39 828

bush.

•

•

•

50,904
93,006

Rye,

Barley,

in store at New York
In store at Albany
In store at Buffalo
store at Chicago
store at Milwaukee
store at Duluth
store at Toledo
store at Detroit
Instore at Oswego*..
In store at St. Louis
In store at Peoria
In store at Boston
In store at Toronto
In store at Montreal, 30th
In store at Philadelphia
In si ore at Indianapolis
In store at Kansas City, 30th.
In store at Baltimore

•

Wheat,

21,380

•

•

•

•

• •

•

a

•

429

....

12,000

....

79,582
80,200
113,336

11,673
1,651

16,142
21,060

2,773

1,079

16,919

13,463
6,145

30,024

•

•

•

• •

active on the spot and for future
40,0f0
98,797
delivery. The low ocean freights have helped the market for
6,575
1,278
226 843
4,555
976
7,703
corn on the spot, and brought prices for this and the next two
523,304
222.531
216,107
6,303
17,749
months very nearly together. There being very little else of a Rail shipments, week
94,702
27.000
83.000
Lake
do
143,500
1% do
849,0<)0 2,154,060
bulky nature to go forward to Europe now, those interested in Afloat in New York canals.... 145,176 1,892,199
70,812
8,078
78,158
the corn movement are very wisely taking advantage of the
Total
458,906 821,463
2,331,860 9,189,463 2,334,897
circumstance, to close out the crop as far as possible, for not later
*
Estimated.
than September ocean freights can scarcely fail to be high. The
weather is too cool for growing corn. To-day, the supply was
THE DRY GOODS TRADE.
limited and prices firm.
Friday, P. M., July 13, 1877.
Rye has been steady, and a load of prime State sold on Wed'
The market has, as a rule, been quiet the past week, as there
nesday at 93c. A considerable line of feeding barley sold at 56c.
were comparatively few buyers in the city, but staple cotton and
Barley malt is firm, with a fair trade.
woolen goods were distributed to a considerable aggregate amount
Oats were in good demand, especially for the last half of the
in execution of back orders.
There was also a fair movement in
week, and prices recovered a portion of the recent decline, but
shirts and drawers, and liberal orders were placed for fancy
the close is quiet at 44£@47£c. for No. 2 mixed and white.
hosiery by jobbers from remote parts of the country. There was
The following are the closing quotations:
no material change in values of either cotton or woolen goods,
JfLOUB.
I
Grain.
No. 2
.’
bbl. $3 75® 5 00 j Wheat—No.3 spring,bush $1 40® 1 50 but current
quotations were steadily maintained on all the moat
No. 2 spring
i 60® 1 68
Superfine State & West¬
ern
5 75® 6 25
No. 1 spring
1 70® 1 73 staple descriptions, and in some cases prices will probably be
Red Western
1 50® 1 70
Extra State, Ac
6 35® 6 75
advanced as the season progresses. There was no movement of
Amber do
Western Spring Wheat
1 75® 1 85
extras
White
6 60® 7 10
1 80® 2 00 importance in strictly Autumn fabrics, such as dark calicoes,
do XX and XXX
7 25® 10 0) Corn-West’n mixed, new
61
54®
dress goods, ehawls or skirts, though some sales were reported
do winter X and XX.. 6 65:o,10 00
Yellow Western,
59.®
62
do Minnesota patents.. 8 00® 11 0J |
Southern, ne .v
67 to Californian and other distant jobbers. Dark prints were opened
62®
City shipping extras..
6 25® 7 60 Rye
15®
93
35®
Oats—Mixed
56
City trade and family
by several of the leading agents at 7c., which price will, undoubt¬
brands
White
8 00® 9 25
42®
62
edly, be popular with the trade; but it will leave a very slight
Southern bakers’and fa¬
Barley—Canada West... ....®
mily orands
8 25® 10 25
State, 2-rowed
®
margin of profit to producers, unless print cloths should recede
Southern shipp’g extras.. 7 25® 8 03
State, 4-rowed
@
90® 1 10 from their present high figures.
Foreign goods remained very
Rye flour, superfine
4 40® 5 15 i Barley Malt—State
Com meal—Western, &c. 3 10® 3 35 |
Canadian
1 10® i 30
quiet,
and
the
jobbing
trade
was
as usual at this period of
dull,
Corn meal—Br’wine. Ac. 3 45® 3 50 | Peas—Canada.bond&free
95® 1 15
-

....

•

•

•

....

•

•

• •

•

•

•

•

•

•

•

•

'

•

•

•

•

•

,

•

•

•

•

mm

.

*

i

very

75,857
200,000

..

....
...

The movement in bre&dstuffe at this market has been
lows :
RECEIPTS AT NBW YORK.

.

1817.
.
For the
Since
Jan. 1.
week.

Same
time
1876.

•

Flour, bbis.
C. meal, “.
Wheat,bus.

Corn, 44
44
Rye,
Barley. 44
Oats....44

33,461
2,640

33,128

821,489

.

400
74,293

.
.

196,952

.

*

as

the

fol¬

Domestic Cotton Goods.—The export movement

EXPORTS PROM NEW YORK.——.

,
1877.
For the
Since
week.
Jan. 1.

1,350,329

1,917,939 22,451
590,90.3
3,708
93,329
125,044
2.573.445 14.061,478 223.531 4,417,002
12,84V88 9.9i',831 525,269 11,057,175
717,505
333,712
545,310
23.734
543,080
1.884,393 2 056.415 36,100
4,324.951 5,586,680
5,011
83,530

33,835 1,013,213
80, ”8.
3,595
693,350 15,241,513

131,830

387,339
1,8S9

7,921,316
511,047
8,000
251,934

...

56,710

The following tables show the Grain in sight and the move¬
of Breadstuffs to the latest mail dates:

ment

RECEIPTS AT LAKE AND RIVER PORTS FOR THE WEEK ENDDO
JULY

7, 1877, AND FROM JAN. 1 TO JULY 7:
Flour,

bbis.
(196 lbs.)

At-

Chicago...

..

Milwaukee

Com,

bush.

bush.

(60 lbs.)
91,170

(56 lbs.)
729,023
21.920

2!8

20. >27

172,804

2,191

19,320

I8.2S6

35,976

67.7 0

25,9 4

Toledo
Detroit

Cleveland
St. Louis
Peoria..

Wheat,

Oets,
bush.

Barley,

Rye,

bush.

bush.

(32 lbs.) (48 lhs.) (56 lbs).
4,297
233,589
21,737
28,917
2,065
2,160

*1.5 0

3/00

6.500

5,678
1,660

101,274
4,250

94,310

22,578
63,872
6,500
67,420

89,200

70,1S7
3 8,041 1,132/03
5 *,561
268.413 1,200,781
70,867
8^0,6.0 1,278,079
78,370 1,273,634
734,165

....

...

44
....

900

2,538

35,700

2,650

2,i5U

-457,566
527,589

30,352

11.089
13,*?3

Duluth..'.
Total
Previous week

Corresp’ng
week/76
n
’75.

*

19, 35
26,324
2,144

562,273
243,141

30,821
3.622

FLOUR

AND

GRAIN

FROM WESTERN

LAKE AND

AND

FROM JAN.

Flour,
bbis.

Wh at,
bush.

1

Corn,

July 7, 1877

72.656

26

June 80, 1877.
Cor. week ’To
C«»r. weea ’75
Cor. week ’74
Cor. week’73
Cor. week ’72
RECK PT8 OF

65,660
72J-2 i

5:8,854

753,957

1,5 40 0 50

94.9.*1

1,861 494

819.636

89,4U5

798,598

121.118

1,321.378

2.211,412
1,234.8 4

9,461

211,'24

60,791
FLGUR

AND GRAIN

ENDED JULY

bbis.

11,091

1 3 0
5 0

Philadelphia

6/50

Btltimore
New Orleans

2/99

5,523
2 714
6‘ 1,313

Cor. week ’76

VlrtltiLK

bnsL.

100.594

2 350

Total

Rye,

bush.

bush

6.303
62,0*1

99,991

365,8 !2

2,408
4,580
2,510

711/43
6i5,585

14,741
10,657

30,4 i3
5,115
2,264
17,339
60.526

AT SEABOARD

PORTS

*OR

18/67

TUB

7 2 2
165,6 50

SUPPLY

32,024
25,200
25,000
.

..

184.618

bush.
726 428
113.6‘0
3.b"0

bush.
£5-8.066
67.411

165.303
159.500

1 694
67 00
1 • 0 to

ai,;oi

48/23

1 <2 10)

1,200

bush.

1,060

bUHM
993
.

7,000
-

.'

-,

22,927
5C0
....

6,000
....

1.381,642

453,799
6 9'-8
31,127
583,907
8.0 >0
1/76,684
31,78
9tfO..‘o9 2,159,7*9
l-i.245
6T9,8."5
45.148
OF
OtKALN, COmpflslug tliedtOCkS ill

539,881

the principal points of accumulation at lake and
and jn transit, on the Lakes, the New York canals
by rail, July 7, 1877, was ns follows:

granary at

seaboard ports,




were

and the

in moderate request,

new

Pacific and Cocheco dirk fancies were opened a,t 7c.

Staple ginghams were in good demand and very firm.
Domestic
wear

Woolen

Goods.—New

transactions

were

woolens and flannels were distributed in execution of

opening prices.

com¬

orders,

woolen goods, some grades
of fully fire per cent upon
Fancy cassimeres and suit ugs were less active,

there was les3 inquiry for
continued in steady request, and

aud

AND FROM JAN. 1 TO JULY 7:
Oats,
(Corn,
Bariey,
Wneu%
Rye,

28,6?6

Portland
Montreal

Previous week

Barley,

bush.
293.137
441.7(9
613.336
248.1 8

7, 1877,

Floor,
AtNew York
B >ston

5

*,871

7:
Oats,

TO JULY

bush.
1.756.213
1,52 5,042

and

drills

and prices ruled firm on all makes of
of flannels being held at an advance

[BIYZR PORTS FOR THE WEEK ENDED JULY 7, 1877,

flltt

of continued steadiness. Browa sheetings ancL
and four-yard makes are closely:
sold up. Bleached shirtings were lightly dealt in, and wide
sheetings remained quiet. Corset jean3 and satteens were quiet
and steady, and there was a fair demand for the time of year for
denims, dyed ducks’ aDd cheviots; but tickings, stripes, checks*,
cottonades and plaid osnaburgs were devoid of animation. Grain,
bags were placed iu moderate lots to a fair amount, and, being in
light supply, are firmly held. Cotton batts,warps and twinesmoved*
slowly. Print cloths were very quiet and rather easier in price
on the basis of 4|c., 39 days, forextra 64x64’s—4Jc. for standards,
and 3£c. for 56x60’s. Prints were comparatively quiet but steady,
every appearance

paratively few and unimportant, but liberal quantities of men's

Estimated.

SHIPMENTS OF

WEEK

in domeetics.
satisfactory, and 2,140 packages were shippad from..,
this port during the week ending July 10, as follows: G**eat
Britain, 1,533 packages ; Brazil, 347 ; Hiyti, 103; British West.
Indies, 37; British Honduras, 36; Hamburg, 35, &c. Prices of
cotton goods ruled firm at current quotations, and the market lias*
continues

1818.
,
,
For the
Since
Jan. 1.
week.

.

season.

worsted coatings. Overcoating*
leading makes of both plain and

rough faced goods are sold up to receipts. Black cloths and doe¬
skins were placed in small lots to a fair amount, and ruled steady
in price. Repellants were in improved request, with most relative
activity in medium grades ; and there was a moderate movement
iu heavy Kentucky jeans and sa inets. Flannels continued in uood
demand, and liberal sales were effected at the late advance.
Blankets were in steady request, and. though unchanged in
price, are very firm at current quotations. Carpets .remained
quiet, as is usually the case at this time of year, and there was
li tie inquirv f >r worsted dr^ss goods.
Foreign Dry Goods. —There has ueen a very light movement
iu imp >rted goods from fi st hands, and the j »bbing trade was
quiet. Dress yoo Is an^ silks moved slowly bur. conrinued steady
in price.
H ms-keeping and dress linens changed hands in
moderate quantities, bur shirting and clothing linens were quiet.
Plain white goods were dull, but fancy makes and figures were
taken in small 1 >ts to a fair amount, and embroideries continued
in steady request.
Mfen’s-wear woolens were very lightly d« alt
in. 8S were Italian cloths and satin d- chenes. G'ov.s were in

steady request but hosiery was comparatively quiet.

Leading article* (rom New lorn.
following table, compiled from CaBtom House returns,
shows the exports of leading articles from the port of New York1
Hxporta oi

Importations of Dry Goods.

The

The importations of dry goods at this port for the week ending
July 12, 1877, and for the corresponding weeks ol 1876 and
1875, have been as follows:
KHTXBHD roa CONSUMPTION NOB

lanaf actures of wool....

do

do
do
Miscellaneous

$256,157
249,271

silk
flax

495

158,566
106.407

2,651

30S

34,362

1,6*3

391,('6S
133,394
42,862

2.440

$831,763

5,450

$641,181

dry goods

Total..

294

-

,

$856,153

2,721

HARKBT DURING THB

AND THROWN INTO THB

WITHDRAWN VBOM WAREHOUSE

-1877
Pkers. Value.
585
$237,066
702
193,602
242.721
415
593
133,474
426
49,290

1876
Value.
Pkers
262
$113,322
620
155,515

,

514
8G0
2t 3

cotton..

-

Jan. 1, 1877, the
1877

all the principal foreign countries, since
totals for the last week, and also the totals since Jan. 1,
and 1876.
The last two lines show total values, including the
value of all othe? articles besides those mentioned in the table.

to

1?, 1817.

THB WEEK ENDING JULY

1875
,
Value.
Pkga
r

SAME PERIOD.

woo--o

•

363

do
do
do
miscellaneous

cotton..

173

68,641

silk
flax

83

2c 3

',2,645
44,(fi9

4,416

c6

dry goods.

$393,569
834,763

ToUl
883
Addent’dforconsnmpt'n 2,410

3,328 $1,228,332

Total thrown upon m’k’t.

wool....

638

do
cotton..
do
silk
do
flax
Miscellaneous dry goods.

295

Manufactures of

116
238

Total entered at the port.

47,896
4,635

7

5,450

641,181

2.721

856,153

.

r 5*
*r *- or
co
•
O

1,641

34,235
89,467
5!,762

‘*05

67,406

73

47,351

7,677
641,181

3,759 $1,442,471

7,091

$311,530

1,’71

#

Earthenware...
Glass

$439,981
856,153

Glassware

Glass plate
Buttons

Coal, tons
Cocoa bags
Ooffee, hags.

,. _ _

bales

Drugs, Ac—

Bark, Peruvian..
Blea.

powders...

Cochineal
Cream Tartar...

Gambler
Gum, Arabic....
Indigo

6 240

9,863
17,751

118 099

165,85*>

10,983
4,411
3,312
20,189
12,78 i

13,664

1.C86.581
1,930
5,239
16.**‘*8
•

•

•

25.902
2,365
3,703

24,105

Oil, Olive

Soda, bi-carb,...
Soda, sal
Sodaash
Flii

Furs
Gunny cloth

Hair

Hemp, bales
Hides,' &c—

Bristles
Hides, dressed..
India rubber

Ivory
Jewelry, Ac.—
Watches

Linseed

Spelter,lbs

..

Molasses

Same

1,872

1,955

*6 2il

27,793

Wool, bales
2,376 Articles reported by
value—

614 Corks

19,9S9

18.940 Fancy goods.

36,324
29,401
2,57*
8,0-71
3,899

22,730 Fish
25,667 Fruits, Ac.—

75,6u;

798

949

2,496
23,5i8

Oranges
Nuts
Raisins

1,501

1,473

241

315

221,731
63,332

362,099
70,346

31,869

60^,310
29,736

441

439

48,236

53,957

71,778

63,3:7

20,331

29,043

$
637.227
39,139
395.021

$
772,4:2
27,711
542.639

156,948

.203,140

472 524

463,039

486,615
566,060

..

Hides, undressed..

Cassia

Ginger

Pepper
iVoods—
Cork
Fustic

49,213
71,792

103,403
93,511

183.18*

277.8*6

299,526

92,999

229,998
18,319
274,477

Logwood

21.692

Mahogany

same

£

a

© © TO
— 00 t>

4) © ©

.

.

*

.

•

.
•

Breadstuff s—
Flour.... .bbls.

4,290

Pitch
Oil cake....

.bbls.

2,495

.pkgs.

155.992

.

1,350,329 1,917,959 Oil, lard... ..bbls.

Peanuts.... ..bags.
Wheat.... .bush. 2,578,445 11,061.478
44
12,346.28, 9.940,834 ProvisionsCorn
44
Butter.... pkgs.
4,824,951 5,5S6,6*,0
Oats
Cl
Cheese...
545,81(L
333,712
Rve
<«
Outmeats
2,036,425
•

...

.

Barley&malt “

Grass seed.i.bags
Beans
.bush.
Peas
Corn meal .bbls.

bales.

Cotton

44

Hemp

..No.
bales.
.sides.
Leather
Molasses.... .hhd-.
.bbls.
Molasses

Hides

Hop*

...

Naval Stores—
Crude turp..bbls.
Spirits turp “
Rosin
Tar




.

r»

....

4(
....

1,884,393

74,853
44,607
170,112
131,880
349,58*
2,976

68,2:0!

Eggs

55, 65!
755,086

Beef

9.3 .329

Lard

439,733

Lard
Rice

l.nfil

44

U

Pork

44
«4

•

2,055,187 2,083,526 j Starch
37,379 Steariue
33,54«
2,182.330 2,266.016 Sugar
•363

67,093
1,413

34

U

.pkgs.

40,029 Tallow
1,67:

36,679

34 58?

171,816
14,53!

149,^41
9,964

kegs.
pkgs.

..bbls.
.hhds.

! Sugar

jTobucco.

•

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Tobacco.... .hhds
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Wool

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.

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10,154
62.101

583,677
764,563

•

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320,601
101,394

: .s--n

56.403

206,337

20 >,806

22.494
21,331
183,497

2M IS
185.123

10,566

13,909
87

12,061

8,784
29.812
304,279
60,637
71,157
31,709
35.543

36,431

46 233
59 **18

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104,001
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37,761

23,243

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2.020
246,026

274.072
361.836
107.205

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574,203
646,958

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222.194
52.034
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32,781

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Same
Since
Jan. 1,77 time 1876

Same
1876

time

3,2*6

ao*iT
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<0

»-i*

TO TO TO

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.pkg8.

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of domestic produce since January 1,1877,
time in 1876, have been as follows :
Since
Jan. 1,’77

©eo

00
O

.{I’anTJOD31©
•

®*

■->»

**qo*

The receipts

the

....

446,780
704.699

Domestic Produce.

Receipts or

g»*w
© ©

©Ncor-accO'-©
*-1
c* c* *0

■coc-cq©

<0

6.726,833 4,057 064
149.918
81,772

Spices; Ac.—

1,485

459

'©©e'»®©'5i?TO®»rt©**TO

v-4

#

TO

C*

.

'G* © Vi
ft-l*
© © TO

1,094,00$ 1,150.748

Rice

3,316
32,258

©

CO
•

CO

Lemons

35.

1,752

v-^00
v-C'>T

•j.

21,306 Cigars

1,143
86,364

0$ r-* ^ O
c* £-<-

© TO
© ©

.10

.

time 1876

■4*1,598

0* •

TO

424

Wines

2,189
3,295

-

r-i

S3®*

S S®4

37.719
220.730

Champagne, bks.

su-

toto

© o

•

•

4^8

Steel

•

CO

© ©

.5

63,00.)
487,405

Saltpetre

Jewelry-

•
•

•

o

Lead, pigs

267

to

SS~

1,098 Wines, Ac—

6*6

Opium

•

XI

TO

Hardware

17.611
2.751

TO

CQO

Since
Jan. 1,’7<

Tea
20.58! Tobacco
15,141 Waste

888

Madder

<0

452,742
522,314
Tin, boxes
Tin slabs,lbs..
5,427.358 4,8 9.069
79,090
97,675
19 841 Paper Stock
15,255 Sugar, hhds, tcs. A
410.079
363,350
bbls
824.48U
9! 4,625
2,640 Sugar, bxs A bags. 1,726,758

•

h
®£CO

*•

—>

11

5,1.2 •
2.772

1,173

r

t

i-» »-*

«

5,919 $1,296,134

Cutlery
19,213

© c*
?
f

Hi

TO

Metals, Ac.—

Earthenware—

<

CO

•

’OO

N
05 ©

Leading Articles.

Same
*ime 1876

.
•

.

-

China, Glass and
Clhina

•©Vi a-ICO'
»»o © T. a xi
r-i to C* © ©

e* o
©QO

1/3
a

•—

table, compiled from Custom House returns,
imports of leading articles at this port since
January 1, 1877, and for the same period in 1876:
[The quantity is given in packages when not otherwise specified.}
Since

_

.^O

41,502

-•

~

MthqdOi-isJcSco

35

•

•

ccT *

.*£5®?
• 2
•

>0©-»*©<nTOr*©©'?»«..
-.-* o; eo —
-o ao — — o*

©

•

?*

•!."•» TO

©

«V®

r—

The following
shows the foreign

Jan.

§

83.866

3,228
2,721

$270,349

•

-

•

482
1,992

© t- ©
CO © a*

.

:g

—' l— L—

31*

$109,836

$87,153

®*

•*T

TO

476

•

tt.

=$*?©'
OD

5,450

Imports of

•

}r e*

cot-ci

■

•

^ aS

c*
O 01

© QO
TP *—<
00

Jij
® (Nfos'aojf
jrfoio
0*3(1®*
(T* P» CO
c»
H
*
*»

SAME PERIOD.

193
172
83
197
99 i

^o*ao■rf*•osi-orewoomcOH^t-t- .01
• ©©'s«T»«TO©'=*©TO©TOT"fco . qo

cnno(?«eoo»-iao —

—

^Jc0g;,4‘r-«OI»TOOo/QG'W^*®^l^'.jQ© CO TJ* •WW'VOO'XOOCOVtO.'JC

3,331 $1,061,343

$368,651

6,320

534,763

2,440

41,6*9

301

$205,190

•

$607,708

1,3! 9

Total...

Addeut’dforconsumpfn

51

610

15,115

34

86,923
10,719

$53,830
5?,iOO

$227,470

$304,555
94.1*6
129,843
65.993

67.717
48,841

127
124

870

WAREHOUSING DURING

ENTERED FOR

f 6S.270

143
150
42
168
367

$203,603

ICanafactares of wool....

Cotton,

[VOL. XXV.

THE CHRONICLE.

48

• 0

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fe*? *,s
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