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8
:
JHE
AND
HUNT'S MERCHANTS' MAGAZINE,'
REPRESENTING THE INDUSTRIAL AND COMilERCIAL INTERESTS OF THE UNITED STATEa
VOL.
SATURDAY, JULY
41.
CONTENTS.
1884,
and
clearings
THE CHRONICLE.
("
TiiiBC Returns
til l^itiiHtton
t
til
Monetary
87
SS
EnffliHli
IMt U|>Miii'Kin
/MIMl'Ml/.l* .S.lU*
Commercial
News
Coiuiuuruial
93
and Miscellaneous
News
90
(
and
Movemrat
after deducting double these values
we have
$315,809,321
is,
THE BANKERS' GAZETTE,
Money Market, Foreign Ex-
Quotations
96
j
97
i
Stocks
10 i
Railroad Earninfrs
aud Railroad In
|
I
98
99
Iiivi!8tiiient
100
1885.
Post onice,
Xcw
we have
previously stated,
iCuUon
108
109
Dry Goods
published in
hal€9.)
iGrain.. ,buiheU>
C'llRONKI.K.
Muliscriptions will he continued until deflnltply ordered to be stopped.
The |>ul)ll»her« cannot he responsible for remittances unless made by
IJralt.i or I'ost Olllci- Monoy Oidern.
neat tile cover Is fuinished at 50 cents; postage on the same Is 18
cents. Volumes bound for subscribeis at $1 00.
A
Office* In England.
of the Commkhciai, asi> Kis vsoial Ciirosioi.e In London
with Messrs. Edwahds ii fSMiTil. I Drapers' (iardens. E. C, where siib•orlplloMs mid advertifl.iueots will be taken at the rexular rates, and
single copies of the p iper supplied at Is. eacli.
The oltlcc of the Ciiiiosici.E lu Liverpool i.s at B 15, Exchange Buildings
B. D.\K.4 8c Co., PnblUherx,
WILLIAM B. DAJfA. AVILIil.lxtl«Vllllain
7a &: 8X
.Street,
tons G. FLOVl>.
The olHoc
is
Posr Ofiick Bd.x
NEW YORK.
9.")8.
+S3-8
(488,973,958
+2-5
(8,107,7271
(1,218,488)
(+780!
(807.132)
(—10-4)
(483,900)
(Zn.SBS.QOO)
(804,600)
(+58-9)
(133,200)
(26,605,000)
(-0
9)
(8S,S;8,000)
(-54-7)
(-86-7)
(85,154,000)
(110,344,000)
(+44-7)
-rl9-0
(73,648,434
+84-0
4.390,900
8,337.629
I,I37,3la
1,340.121
+8'2
-«-7
-13-6
+U-8
fe,3s7,941
(57,511,688
4,015,400
2,403,593
025,4U4
828.68?
817,031
425,823
882.187
882,166
750,195
501,689
-H-9
-6-1
1,101.932
+180
807«iO
-16-8
485.088
»79, 127,749
(68,291,034
+15-9
(86,956,941
t47,514.S31
7.159,648
10,45i,054
(48,701.934
7,907,426
11,529,430
—Sri
-9-6
-9-3
(49,673,078
7,600,786
112359,991
(65,150,233
(68,138,796
(70,084,699
+8-0
(38,730,.333
+7-9
—4-1
-13-8
+1-4
(47,681,016
9,883,600
3,536,438
3,029,819
+1*8
Cleveland
141,782,501
8,446.150
2,569,731
2.668,258
1.276,S8a
2,149.221
Columbus
1.205,271
4,143,700
New
Haven.....
Portland
SprlDKtleld
Philadelphia...
Ptttabarg
Baltimore
Total Middle...
Chloafio
Cincinnati
Ullwankae
Detroit
lodlanapoliB
Peoria
Total Western..
Louis
St. Joseph
New Orleans
St.
2,532,8*1
—«-7
—4-1
+21-
+7-2
+-4-1
+13-8
+10-8
+0-8
+39-6
-18-7
+5-7
+8-8
+2-3
+ 12-7
1,230,653
+0-4
8,822,280
-»1
1,403.104
6rj,«21
+0-7
730,262
100,021,638
(58,004,721
+3-3
(69,717,752
+11-7
$15,103,600
KS3,6»i
(13,700.538
582,023
4,714,774
8.517.7;s
+10-7
(18,330.588
+196
895,394
792,276
+30-4
-12-8
+38-9
+7-S
+S4-0
(29,876,823
(27,222,332
+9-8
(34,«21,038
+13-8
(12,291.553
(11,392.925
+7-9
(10.691,053
+3-8
4,294.897
Kansas City
4,099,436
842.360
San Francisco
2,980,127
819.51
+16-3
+7-»
+12-8
.+01I
1,133,676
Loatsvllle
Total Southern..
8,803.000
1,366,111
2,139,985
1,673.293
688.573
4.!592,6S7
Memphis
CLEARING HOUSE RETURNS.
II.
Percent
168,411,151
Total N. England
For One Year (Including postage)
^10 20
ForSlx Months
do
6 10
Annual subj.cription In London (lucludlne postage)
£2 7».
Six Mos.
do
do
do
£1 8s.
These pricps include the Investors' Si;ppi,emest, issued once In two
months, and furnished without extra charge to subscribers of the
1S8S.
(0«..')72,000)
lPetroleum..bbl».)
Lowell
Terms of Subscription— Payable in Adrance
F«rC«nt.
(-18-5)
Worcester
York, N.Y., as second class mail matter.]
Week BtiMni July
18.
1884.
Solo of—
lSU>ckt....thara.')
TIME?.
Breadstuffs
The Commercial and Fisascial Chromcle is
yew York every SiUurihty morning.
tlic
total
(461,8113,351
NewTork
Boston
ProTldenoe
Hartford
[Entered at
for reasons
WetK EnMna Jvlv
and
telllaenoo
104
Cotton
of
Bond>^
THE COJLMERCIAL
Commercial Epitome
from the
^318,965,3.")1, respectively,
probably not warranted.
91
ohanKe, U.S.BoouritlPg, State
and Railroad Bonds and
stocks
R»i)ff> In Prices at the N. Y.
Btook Exoli!ui<e
and
1,048.
as the exchanges otherwise arising, or a loss of 1 per cent.
From this it would seem that there has been a slight falling
This
off in the volume ot transactions other than speculative.
95 conclusion, liowever,
Tlir Conrox of tks Iiuiutgratlon
NO.
25, 1885.
+51-8
-2-6
+82-1
-4-6
4,296,165
411.052 +106-0
6.364.574
4,840.836
4,377,370
The improvement, compared with last year, in the clearings
+6-3
(81S,«17,S19
(695,606,159
(761.001,812
Touiail
+177_
disclosed by the returns for the week ended July 4, and
+5-7
+13-6
Outside New York (217":073Si5 (2J3,712,808
'St73^022,88<
which appeared more clearly in those of the second week
As stated above, the returns of exchanges for the five days,
of the month, and in our live-day telegraphic statement
last week, is now further shown
in the aggregate of as received by telegraph, are as a whole in excess of those for
The increase in the whole counexchanges for the entire week ending July 18, and in the same period a year ago.
the telegraphic statement for the live days ending last try, in comparison with 1881, reaches 10'3 per cent, and with
night, as given below. Tlie week's total compares well with New York e-xcluded is 4'2per cent.
weeks (in fact, the total is the heaviest thus far in
and with that of the corresponding week last year.
late
ISS-J),
It
I%M Day Enitnt Jutv
84.
BD'KlBBd'jJulK
17.
is
true that the present large increase of clearings is at New
York, and tint the aggregate for the other cities exhibits a New York
SaUtof Stock
decline from the very full figures of the previous six days
;
Boston.
Philadelphia
Baltimore
but at the same time one must not lose sight of the fact that
the unfavorable character of the returns during earlier weeks
was ascribable mainly to the poor showing made by New Ycjrk, CMoaxo
St. Louis
while other cities were making pretty steady improvement, New Orleans
and generally either appro.ximating closely to, or exceeding,
Total
188S.
^32.451.858
{iht.)
|P«r Can.
1884.
Sl^TOOlOIOi
-^S2-a
Psr Ckat
1885.
(479,017.224
-i»o-«
(2,013,307)
(1,518,167)1
(+38-6)
(1,877,641'
(-r86-S>
4».095,830
46,0l4,7a2!
+104
35,908,701
S7,flOI,9l9|
+i8-a
-8-8
9.874,."»8
-5-3
-11-9
67,348,548
88,745,415
11,415,997
10,357,1701
+109
8,370,833
8,453.838]
-8-4
(e94,933,'.^U7
(5115,024,809:
+IT8
8 699,8r5l
Balance, Country*
19,020,ilO;
49,314,565
+08
the figures of 1881.
Tout all
»lH.2ill.M>2
rSM.OM,^' +t6-3_
The market value of the share transa'.'tions on the New
!«
York Stock Exchange for the week ending July 18 was Outside Now v.,rk »li.l.;wi.uii »lsi o:ii
< Ratlinated on it e twsis ol the last weekly retoros.
* 138,017,000, against |71,461,000 for the corresuonding week of
t Estimated.
1,'.-.
•
8,;7«.801
84,800.000
12.N14-4T..
—8-7
+«'l
+17-5
+0-8
+1M
«.
Oi.ily,"is)
+8-»
(6«7,3l:<.42l
+18«
«*ts.V'«.lMjl
-
-,
:=
THE CHRONICLE.
88
[VOL. XLI.
one that not only does not compromise the Government in
the least, but shows that Treasurer Jordan has done a very
TEE FINANCIAL SITUATION.
Notwithstanding the increased transactions at the Stock creditable thing and one that is in every way of advantage
Exchange, and the agreement by the banks to transfer to the country. On the other hand, it puts the banks
from ten to twenty millions of gold to the United States before the people as risking much because trusting them,
has as not hostile to silver, but aiding in its circulation, and as
Treasury, as hereinafter explained, our money market
There
week.
only opposing a silver dollar currency because vicious in
shown no very material change during the
Bankers' principle and therefore harmful in practice.
of renewed activity.
request,
little
better
a
in
With this arrangement fully consummated, the critics
been
have
balances, for instance,
In
difficulty.
without
obtained
of
both the Government and of the banks, of which there
been
has
and ] ^ per cent
up
rate
carried
the
inquiry
have
been so many during past weeks, are left with
unusual
an
Thursday
fact, on
How foolish, for instance,
to 3 per cent, although it almost immediately fell back to very little to comfort them.
claimed the
banks should be
those appear who
Still, there is the same unchanged abun
the old figure.
be
are, to
dance of
sure,
some signs
idle
capital
'
apparent, as
is
clearly seen in the
increasing surplus reserve last Saturday's bank statement
showed, reaching at that date $64,573,475, with deposits
over four millions more and loans over a million more
than on the previous Saturday.
It is believed,
The
however, that this very plethoric condition
money market
of the
fall
trade
is
will
soon undergo some change.
about to commence, and
expectations, will to an extent again give
idle funds.
Then the movement
that, if it
first
at
to
of the crops will quickly
follow their harvesting, and this also will
demand,
meets
employment
augment
the
the Western and Southern centres, and
Besides that, the Government
each
compelled
and
seek
to
hoard
silver
certificates
West
and
up
and
force
out,
not
their customers to whom they paid them
Of course it is
to use them in paying customs dues.
scarcely necessary now to more than state such a propoIt assumes that a bank is either
sition to exhibit its folly.
a mechanical toy worked by some magical spring hidden
as
they
South,
flowed
or
at
in
least
from
here
to
the
follow
within a silver dollar or a kind of charitable institution,
with no rights the public
is
bound
to respect,
but set up to
subserve the will and purposes of congressmen and governments.
A communist is logical when he asserts such a doc-
it has no justification outside of the little crowd
month increasing its reserve by retaining its surplus reve- whose creed is confiscation of private property. Equally
nue instead of redeeming bonds, being compelled to do so unwise were those who blamed Government officials for seekin its effort to protect its gold fund; and its holdings of ing any kind of aid. Far better would it have been to have
bankable money will be further added to when it converts blamed the Government for needing it, or to go one step
through the banks its subsidiary silver into gold. It is to back and blamed those who caused the need. To save the
be presumed also that the greater activity at the Stock Treasury from the danger which has threatened it, is well
Exchange will tend to make the inquiry for money for worth the effort made and the criticisms incurred by those
Wall Street purposes more urgent during coming weeks. who have been engaged in this negotiation.
In connection with these influences it should be rememOur railroad managers likewise scent the coming change
bered that the extreme ease which has so long ruled here and show it by their endeavors, so active just now, to get
is due to the unusual absence of enterprise and the inactheir house in order also. We have in previous weeks noted
tivity in business which has prevailed throughout the the progress making in the settlement of all the New York
whole country, because of the fear that has been felt Central and Pennsylvania differences. It seems at length to
respecting our currency
idle funds have all flown this be generally admitted that an agreement has been come
way until our bank deposits reached July 18 nearly to between these parties, covering West Shore, South
388 million dollars, being larger than they ever were Pennsylvania, Beach Creek and perhaps other roads, as
next at
this point.
is
trine;
but
;
before and about 25 millions larger than they were Feb-
ruary
16, 1884,
the highest point of last year.
soon
for
instance
tion
is
The supposisome manthe West Shore, and rumor has
Jersey Central and
Reading.
that Mr. Vanderbilt has actually and in
any considerable revival in trade ner secured possession of
wanted at it that he has offered a 99 year 4 per cent New "li'ork Cenhome, and our bank deposits may be drawn down more tral debenture in exchange for the West Shore bonds, one
rapidly than usual since the accumulation is unnatural debenture bond being given for two of the West Shores. If
and phenomenal. And aiding such a movement is the con- all this comes to pass as anticipated, a remarkable change will
viction which is beyond a doubt becoming quite general in have been made in the railroad situation
by one act, not
ofBcial as well as unofficial circles that the silver coinage only will every cause of discord between the trunk lines
bill is to be repealed as soon as Congress meets; and trade have been removed, but also the chief source of discord to
and enterprise of every kind as well as stock values the whole raUroad system of the country will be out of the
always to some extent discount events.
way. During the week, good progress, too, has been made
Favoring this thought, because showing that the same in consummating pool arrangements almost everywhere.
belief is held by our bankers, we are glad to be able to In the Southwest, West and Northwest the reports are
state that on Thursday our Clearing House Banks com- assuring, and only in the East can no advance be reported;
pleted their arrangements with the Treasury Department but the adjournment of the meeting there was said to be
to keep the Government's gold fund undiminished.
Yes- only to secure time to arrange West Shore matters so that
terday the Clearing House Committee issued to all banks that road might be included in the agreement as to westand bankers in the country a circular announcing their bound rates. Altogether, therefore, the railroad prospect
decision without any reservation
or qualification to has certainly and greatly improved.
give to the Government, as it needs it, from ten to
The week has on the whole been a favorable one for
twenty million dollars of gold, and to take in return
Temperature has ruled very high all
crop development.
subsidiary silver in the same amount.
Through this cir- through the North, just the weather for corn, spring
cular the aid of the whole country is sought to distribute
wheat and the other crops of that section. As the week
the currency taken and place it as far as possible where it
closes however there are reports of storms in the Northwill stay. According to our view, a very happy
conclusion west, which might possibly harm spring wheat.
The
this much- discussed transaction has thus
been reached, cotton crop continues to develop favorably and to give
as there
is
any change,
As
in the interior, these funds to an extent will be
—
—
July
THE CHRONICLE.
25, 1886,]
89
Southern Paci/tc Compnnij (the new leMeeof the Contrat
imnionso yield. This very promising
Pacific)
this week announces the classiBcation of its lines
merchants
hero
from
has
sent
South
outlook
tbat section in greater numbers than last year and tliey into two grand divisions, called the Atlantic system and
are buying goods more freely than then, though there is tho Pacific system, the Atlantic system to comprise subnothing like reckless or speculative buying, but a feel- stantially the lines east of El Paso and the Pacific system
According to this arrangeing of great hopefulness over the prospects for tho fall the linos west of that point.
Railroad earnings also in many cases continue to ment the Pacific system would cover tho same mileage or
trade.
show favorable results compared with last year. Under roads formerly embraced in the Central Pacific system,
all these circumstances there seems very good reason for except that tho Northern Division of the .Southern Pacific
This distinction it is
"Wall Street markets being active, and that good proper- of California would be added on.
assurances of an
tho
for
should have ruled higher, especially those that are important to bear in mind, for the first statement of earnings under tho now classification has now been issued,
directly involved in tho trunk line settlement.
ties
Respecting the anthracite coal situation, tho latest
tics
statis.
We
are loss discouraging than in the previous report.
are approaching the period
when the
million tonnage
.30
and gives the gross earnings of the "Southern Pacific
Company, Pacific system," for the month of May as
the operating expenses
$1,682,035,
as
with
$814,954,
The $240,000 additional for rentals, and the net above
combination has successfully passed through the months of expenses and rentals as $627,681. Inquiry at the company's
Tho serious question is, of course, will office fails to establish, however, that the Northern
small production.
allotment for the year will be put to
it
as easily pass through the
months
its
severest
of
heavy production? Division of the Southern
tost.
Pacific of California is included
might admit of comThere can be no doubt that at the moment the trade is not
with
the
Central
Pacific
statement
of last year.
parison
in a satisfactory state, but tho figures by no means bear out
is
for
Operating
the
rental,
what
that
?
But
$240,000
The
official
statement
(by
the alarming reports current.
Mr. John II. Jones) of the production during the month expenses and rentals have always been lumped heretofore,
Supposing that
of June has come to hand this week, and shows that now the latter appear in a separate item.
If not, the figures
in this statement.
tons, the allot- the rental given has some reference to the Central Pacific
The increase in produc- lease, what about the former rental of the Southern Pacific
tion over the corresponding month last year is as much roads of California, Arizona, and New Mexico, which
as 460,853 tons, so that for the six months ended June .30 according to the old system was charged against the Cen-
the
was
production
actual
ment being
2, .500, 000
2,490,0.32
tons.
the companies are
now
duction of 1884.
In view of
only 4.57,931 tons behind their prothe enlarged output for the
would not be surprising
increase in the stocks on hand, but
month,
find a material
to
it
in point of fact the
stock of coal at tidewater shipping points on the 30th of
June had increased only 56,522 tons over that of May 31,
a month preceding. In the corresponding period a year
ago, to be sure, there was a decrease of 153,9 99 tons
from 858,837 tons to 704,833 tons but then the production, as already stated, was 400,853 tons less than now, so
that actually the consumption in Juno this year shows an
increase of 250,332 tons over June, 1884.
The situation
as respects consumption in the two years, both for June
and the six months ended with June, is indicated in tho
—
and included
tral Pacific
These roads are
80.
Anthracite Coal.
1885.
1884.
1885.
TbJU.
therefore
down to the Gulf, and
we doubt whether any rental allowance for them
has been or can be brought into the monthly accounts.
hard to see how a comIf it could be
made, it would be of course interesting as showing whether
the linos in the system wore improving or retrograding in
their income, but, after all, what enlightenment would that
Under such
circumstances,
offer Central Pacific
improvement
ern Pacific
(if
who
stockholders, the only outsiders
have any direct pecuniary interest
in the
property
The
?
any) might be entirely on the old South-
lines,
which are no longer operated by the
whose earnings and profits go to tho
58S.183
704388
58S,163
704,838
Consura ption
2.4S3.510
2.188.178
12,903.IM0
13,202.745
Thus consumption
tons,
with
2.029,179
18.159,253
8.888,018
18,578,003
13,907,583
the half year
for
the
result
leaving
of
—
122,675 tons smaller than a year ago
July
that
1,
188.5,
only 208,905
is
though production was decreased
1884,
against
extent, therefore, the
Of
favorable than last year.
that
701,833
is,
tons
the
stocks
at 582,163
on July
situation
is
a word,
In
Company.
then,
it is
there were no doubt on
that point the returns as arranged are practically valueless.
8,015,673
tons less than in
Pacific
say just what the statement furnished includes
or does not include, and even
Tbnt.
874.681
12,701,32^
858.837
difficult to
1884.
Total suDpIy
To
it is
parison with previous years can be made.
Tons.
748,380
Tbiu.
523.611
2.490,033
1834.
operating expenses.
net earnings of the entire system
new Southern
Jan. 1 to June
Junr.
tons on
in that road's
operated for a fixed percentage of
all
Central Pacific, and
following.
457,931
now
1,
if
Pennsylvania Railroad's June statement of earnings
and expenses came out yesterday, and makes relatively a
better showing than in any other month this year.
The improvement, however, consists solely in the fact
that the falling off, as compared with the preceding year,
in other words the
is very much smaller than heretofore
improvement is negative in character. But even that is a
feature of some encouragement
to know that the comparison has reached a point where the loss, if any, must
—
—
more be
greatly reduced as contrasted with other recent pariods.
course, this relates merely
Of course the advance in rates did not influence the result
to the visible stocks, and the invisible supply may have any in June, as that was not inaugurated till the present
increased, but it is satisfactory to note even smaller visible month.
"What the loss has been in each of the last sir
stocks.
It would appear, nevertheless, a question whether months is shown in the following.
the enlarged production of future months can be satisfactorily
June,
disposed
the
of.
As
against
allotment plan
the
provides
2.J
for
million tons in
an output of
2,800,000 tons in the current month, and 3 million tons
J
per month for each of the four months following. The
companies, however, seem to be working in harmony, and
if the trade will not take the full production allotted, a
reduction in the output would appear an easy matter.
Pma. A. JR.
Jan.
Feb.
»
SroM
298,711
Net
175.54a
From
this
we
S5I.093
294,090
see that
Kareh.
AvrO.
May.
June,
t
t
(
t
867,859
94 3.442
451,419
421,608
876,704
170,536
from January
t
9.018,«8«
i,s8S,asa
to April thore
was
both in the case of gross
since then there has been a pro
a progressive increase in the
and net earnings, and
a84.im
TUoL
loss,
gressive decrease in the samo,
making the
loss for
Juno
.
THE CHRGNICLF.
If,''
ib:90
But
the smallest of the year.
inaccurate conclusions
lest
that as
this exhibit, it is only fair to say
small
very
with
are comparing
be drawn from
.
regards at least net we
figures, the June net both in 1884
[Vol. XLI.
London and New York, and promptly
cable between
remitting the proceeds through sight drafts or transfers.
This exceptional inquiry will doubtless soon cease, and as
Europe seems to be less strained,
exchange may soon be looked for.
to the a
below that of any other month. All this relatss
made up from returns collected
statement,
followino'
The
But on the Western
lines east of Pittsburg and Erie.
and shipments of gold and
receipts
the
exhibits
by
us,
year presystem there is also some improvement over the
banks
during the week.
York
New
the
currency
by
pay
to
ceding, the deficiency below the amount needed
decline in the rates of
being only $300,748 for June, 1885,
these
against $311,907 for June, 1884, thoughit is true of
pre.
the
in
result
lines, as of the Eastern lines, that the
to
comparisons
enable
To
vious year was unusually bad.
the month's
liabilities
be made with some of the
we
years,
earlier
bast of
1880.
1883.
«
3.906.174
2,823,148
4,156.871
4,093,756
!,82fl.l91
2,077,72«
2,559,423' 2.318,894; 2,U09.22«
909 444
1,D(<S,026
1.179,142
1,ES4,S;W'
1,488,543|
•300,748' -311,907:
-176,290
+103,778!
-28,905i
M-46,877
1.459,838
1,059,124
i
OperatV expenses.'
Net earnings...
Western lines
i
8,807,437
3,221,476
1,012,247
\
Kesnlt
1,638,111
771,1191 l,00a,852
608,696
tl,572.000
$451,000
Oaln..tl,12l,000
Total gold and lesal tenders..
..
»1,572,000
8451,000
Gain.. $1.121, 000
above shows the actual changes in the
bank hold-
ings of gold and currency caused by this movement to and
from the interior. In addition to that movement the banks
have lost $1,200,000 through the operations of the Sub-
1334.
8,735,63.S'
Net Interior
Movement.
^^^^ZL^^'T^.l.
Qq\A
The
PlTTSBtJRO.
June.
Gross earniDes.
^«e*.n..n,.ul„24.1885.
present the
following table of earnings and expenses since 1879.
1ji:«es
political situation in
and 1883 having been the
Adding that item to the above, we have the folTreasury.
lowing, which should indicate the total loss to the New Yor k
Clearing House banks of gold and currency for the week
covered by the bank statement to be issued today.
j
Jan. 1 to June 30.
Gross earnings.
Week endino July
21,S19.r>93'23,333.24(l 24,362.579 22.650.847'21,553.a39 19,434.071
Operafgeipenses.'14,799,7S4|l5,221,007
Net earnings..
Western lines....
8,112,242, S,alH,826j 8,190,122, 8,i)«7,154
6,519,859
8,094,409
+35,463 +1524,864 +1341,107
-886,0081 -7B4,855[ +215,674]
Net Change in
Bank Holdings.
Out of Banks.
Banks' Interior Movement, as above
8ul>-Treasury operations
tl,572,008
6,200.000
$451,000
Gain $
1,121,000
7,400,000
Loss.
1.200,000
Total gold and legal tenders....
$7,772,000
«7,861.000
:
"iiiss!^! 7,347,3S7l 8,7»4,500i 8,225,58510,522,018 9,435,516
Result..
Into BanJu.
24, 1885.
15,t.33,753 14,460.72o 12.556,6S5 11,330 .062
The Bank
of England reports a loss of £615,537 bullion
Thus while as compared with 1884 the loss on the daring the week.
This represents £291,000 sent abroad
whole system is only $1G2,423, as compared with 1883 it and £324,537 to the interior. The Bank of France gained
is $394,156, and as compared with 1882 it reaches the
francs gold and 3,707,000 francs silver, and the
large
sum
of $1,029,415
—that
4,982,000
is
to say, the net result to
the Pennsylvania (after deducting the deficit on the Western lines) is only $608,696 in June this year, against
1880 $1,059,124, and in
Germany
The following indicates the amount
the principal European banks this week
more
declined from
1881 to $6,519,859 in the
$8,997,154 in
Western system from showing
present year, and the
surplus above liabilities in the
now shows
large
sum
of
a
$1,524,864,
and thus the loss on
these four years has been $4,888,-
a deficiency of §886,008,
the combined system in
last year.
July 23, 1885.
When we come
showing is hardly
On the Eastern system the net has
to the operations for the half year, the
satisfactor}'.
shows an inc rease
since the last report
it
the poorest since 1879.
is
of
of bulUon in
was $1,459,638, in
and at the corresponding date
1879 |348,607, and thus the pres-
In 1881
$1,638,111 in June, 1882.
ent net result
Bank
of 2,880,000 marks.
Gold.
Silver.
July 24, 1884.
Silver.
eh)ld.
«
i
Bank of England
Bank of France
Bank of Germany .....
24,555,635
26,S70.775
46,123,329 43,172,847 40,778,753 40,632,168
7,417,750 22,253.250 7,645,500 22,936,500
Total this week
Total previous week
80,411,854 G3,42(!,097 72,979,893 63,563,668
80.792. 104165,175,978 73,793,753 63,293,765
i
(
.
The Assay OfBce paid $225, 624 through the Sub-Treasury
167 the total net this year being only $5,633,851, against during the week for domestic bullion, and the Assistant
$10,522,018 in 1881.
Treasurer received the following from the Custom House.
Foreign exchange has advanced one cent per pound
Consisting of—
sterling this week, and the tone of the market is strong,
l>utie$.
—
Date.
although there are some indications of an early breaking
down
of
from natural
rates
the firmness
is
that while
remained unsettled
in
Vienna,
Therefore
points
their
ing
drafts
bills.
money
situation abroad
movement
of Russia, the bourses
and Paris were kept feverish.
having correspondents
at
those
Berlin
bankers
were
and
the political
of
consequence of the uncontradicted
reports of the aggressive
at
One explanation
causes.
disposed
selections
remit
to
were
rather
confined
to
Oold.
than
draw,
sight
sterl-
"
"
"
20
•'
23.
$471,979 21
422,6.=S6 95
500,923 35
706,518 06
330,240 59
373,235 17
Total.
S2,811,453 33
July 17.
" 18
London because
of
unsettled
this
state
of
on the continent, but so far as reported there has
been no change, the rate in the open market remaining at
13- 16 to J of 1 per cent for discounts of 60-day to three
affairs
months' bank
tificates.
$185,000
166,000
357,000
370,000
$1,53,000
135,000
161,000
97,000
120.000
$21,000 .?1.374 000
$879,000
$4,000
5,000
2,000
3,000
5,000
2,000
193,000
92,000
2U.000
$129,000
59,000
54,000
109.000
94,000
8il,000
$534,000
The
vast extent of the future delivery business which
now done on
is
our mercantile exchanges, gives to every
all
adjudication affecting such dealings a wide interest.
We
notice the publication recently in the Federal Reporter of
a decision of the United States Circuit Court, Kentucky
The speculation in cotton here and in district, which was delivered as long ago as April, 1881,
July deliveries has somewhat limited the but as it covers an important point, constantly arising, it
supply of commercial
the usual notice
an intention
Silver Cer-
bills.
Liverpool for
is
bills,
but
it
is
expected that after
given at the beginning of the week of
to deliver
staple will be
0old
Oertiflds-
DOES NEGLECT TO PUT UP MARGIN
AUTHORIZE SALE?
and cable transfers in preference to long
Almost daily bankers looked for more active
in
21.
22
U.S.
Notes.
more
the cotton, the
liberal,
movement
of the
ia
worth calling attention
define
what
ruling
among
and consequently the offerings out
of drafts will increase.
The recent demand has mainly
come from arbitrage brokers ^^transacting business by
is
sufficient
The
facts
The
now.
This case helps to
members of an exchange as to closing
when his margin becomes e.'chausted
the
his contracts
ones.
to
notice to a dealer, of a custom
brought out on the
suit
was
trial
were the ordinary
by the
to recover a balance claimed
July
THE CHRONICLE.
83. 1888.J
Ulakeniore and others, coinmission merchants,
plaintifis,
doing business
in
Now
York, and members of the Cotton
Exchange, from the defendant Ileyman, a merchant in
Henderson, Kentucky, on a series of transactions in future
Both sales and purchases were made
contracts in cotton.
and at the request of the defendant;
but the market went speedily against him, exhaustmg the
margin he had put up. When that point was reached
demand was made for more margin and in default of the
payment of the same the contracts were closed out, leaving
a balance due the plaintiffs, after deducting the sums
deposited, of $687 19, which was the amount sued for.
The question passed upon by the court was whether or
by the
plaintiffs for
»1
and formed a part of the contract. In the case
under discussion the court held that there was nosufTicient
evidence tending to prove a custom of that descripparties
tion.
wo
by the plaintiffs was
any other adjudicathe United States Court covering, or at least to any
This decision
are informed
Nor do we
never appealed from.
tion in
extent controverting, the point here established.
decisions there are in great
Court, the rulings
it
State
allied questions;
adopts on these subjects are of chief
Hence
importance to brokers and dealers.
it
seems to us
desirable that the trade should take notice of this
requirement, assuming
the defendant failed to put into their hands the additional
aside
loss;
numbers on
but under the enlarged jurisdiction of the United States
not plaintiffs had the right to close out the contract?, when
money
find
by a
it
to be
law
until it has
new
been set
later decision.
required by them of him, to secure them against
and
was held
it
have the
that they did
so that
right,
defendant's favor.
As
is
not, in
this instance,
judgment was rendered in the
known, much informality is
well
frequently observed in selling out a customer, the broker
assuming that because circumstances have changed,
is thereby in danger of losmg, his right to sell is
hastily
and he
He
THE COURSE OF THE IMMIGRATION
MO VEMENT.
During the years of prosperity succeeding 1879, we
became so accustomed to an immigration movement of extraordinary magnitude, that now,
when the movement
much
us as being very small,
reduced, the figures strike
is
and lead many to underestimate their importance. The
Bureau of Statistics has this week made public the arriand must be brought out in the evidence as clearly as is vals of passengers at United States ports during the
the authority to make the speculative venture. A direct twelve months ended June 30. according to which a total
agreement between the parties would of course in this, as of 421,739 aliens arrived here in that period, of whom
in every case, have been the best evidence of such a power. 387,821 were immigrants.
But these figures do not quite
But there was no attempt made to prove such an agreement, cover the entire country. They embrace the ten leading
nor was there any evidence offered tending to show that any customs districts at which passengers chiefly disembark.
authority whatever was given the plaintiffs by the defend. The minor districts not included, we are told, usually have
ant to foreclose his rights in case he failed to secure the only 3 per cent of the total movement for the whole
plaintiffs against the fluctuations of the cotton market. United States, but allowing for this additional 3 per cent
Some brokers have a general blank form giving the neces- the immigrant arrivals for the late fiscal year would fall
sary authority, extending to all business between them and very little short of reaching 400,000.
their clients, which each dealer is required to sign.
That,
Four hundred thousand individuals can not be regarded
if properly drawn, could, though general in its terms,
as a small addition to our population in this way in a
conclusive.
himself
is
forgets that the authority to thus protect
only derived from his
client's
contract with him,
probably be made so as to cover each individual transac-
year; certainly it would have been considered a
heavy aggregate in any of the years prior to 1880. It
of sale, so worded as apparently to answer the same pur- means so many more mouths to feed, a substantial addi.
pose.
tion to the capacity of labor, and a corresponding increase
In the present instance, however, the plaintiffs assumed in the power to raise crops or manufacture goods, in which
that the right they exercised was conferred upon them by latter respect the full effects of the movement will only be
the rules and regulations of the New York Cotton felt when business again revives and our industries resume
Exchange, and that those rules were really a part of each, their old-time activity, giving full employment to the new
transaction governing and controlling both parties thereto labor which has sought an abiding place here.
Yet it is
But the defendant swore that he had no knowledge of the also true that the immigrant arrivals have been steadily
rules and that no notice of them was given him.
It was diminishing for three years, and the aggregate now is only
proved however that he had responded to one call for about half what it was in 1881-82, when the total was no
margin, and had promised to respond to another, and to less than 788,992 in other words, in the late year the
that extent at least had recognized the plaintiffs' right to number of immigrants reaching our shores was nearly
call for margins.
Such a response also raises the pre- •400,000 smaller than in the year mentioned, which was
sumption that the rules were known to him. Still that act the year of greatest immigration.
was held to be insufficient.
Furthennore, had full
But that does not prove that the present movement is
knowledge of the rules been proved, it w6uld seem, under not in itself heavy, but simply goes to show that there
the opinion of the court, that the evidence would even has been an important reaction from the extreme figures of
then be defective in the absence of any actual agreemeut a few years ago. There had been an unusual stimulus
on the part of the defendant to be bound by them in his then, in the great demand for, and remunerative pay
dealings with the plaintiffs.
This appears to be carrying offered, labor, which no longer exists, making the first
the doctrine of notice and acquiescence to an extreme mentioned year phenomenal, as indeed was the year prelimit and beyond any other case wo have seen.
ceding, though having a much smaller total.
Hence
Failing on that issue, the plaintiffs sought to establish a the comparison with such years is valuable chiefly to show
general custom prevailing in New York outside of the the relative extent of the movement in the different periods.
Cotton Exchange under which their action could be On that point note that in 1879 (year ended June 30) the
justified.
But the court ruled with the defendant on this arrivals were only 177,826, in the very next year they
tion.
single
Others require each client to sign a waiver of notice
—
a commercial usage can only take the place jumped to 457,257, in 1881 to 609,431, in 1882 (the maxiwhen it is uniformly acquiesced in and for mum) to 788,992, and from this they fell to 603,322 in
such a length of time that the jury will feel themselves 1883, to 518,.->92 in 1884, and to 400,000 in 1885. The
point
also, as
of general law
constrained to find that
it
entered into the minds of the
following interesting table shows the
movement
in
each of
—
.
.
THE CHRONICLR
92
in
the last thirty-five years, and also the aggregates
yearly periods during the whole of that time.
dumber of
Immiirrants.
Tear ended Dec. 31—
1851*
18681863*
1854*
18S5*
Number
Period.
387,203
321,350
404,808
459,803
313,339
227,498
1871..
1,748,424 1872.,
Sjeara, 18S0tol855.
ISM..
195.8.57
1857..
18S8..
1859..
1800..
246,945
119,501
118,618
150,237
1873.,
1874.,
1875.,
it is
to
At
be remembered that the extraordi.
1880-4 were, as
stated, the result of a rare
Europe they were just the reverse. The crops there
had been poor for several consecutive years. This alone
would sufBce to cause many to leave their native soil, and
seek to better their prospects in the new world. But while
in
1,487,239
1870.
probability of our again
little
the diminutive figures of 1876-8.
to
totals of
XU.
combination of favoring circumstances. It was not only
that the conditions here were highly encouraging, but that
Tear end. Jutu SO—
4« yrs., 1866 to
down
the same time
nary
of
Immigrants.
1869
1870
879.466
371,603
368.645
427.833
200,877
There would appear to be
getting
INTO DOTTED aTATE8 FOR THIRTr-FIVE TEARS.
(MMIGRATION MOVEMENT
Period.
five,
[Vol.
Europe was suffering a diminished agricultural outturn,
the United States was being favored beyond measure with
B years, 1855 to 18«0
a rapidly increasing yield and successive crops large in
('9,724
1881..
89.007
1882..
quantity and excellent in quality, which so stimulated
174,624
1863..
1,085,395
5 years, 1878 to 1880,
193.185
1864..
business that to the European laboring classes the country
247,458
ises..
660,431
1881..
788.992
793,903 1882..
seemed a veritable land of milk and honey. Can we
6 years, 1860 to 1865
603,322
1883..
518,592
1884.,
Jan. 1 (o JwTwSO—
wonder under such circumstances that the human tide
+387,821
1885.,
166,112
1866
Year end. June 30 —
which flowed this way was large beyond all precedent.
2,968,158
6 years, 1380 to 1885
298,967
1867
282,189
1868
Note the contrast now. The agricultural outturn in
• In these years immigrants were not diatinguislied trom otlier pashas greatly improved, and the prospects of the
Europe
senKers.
,.
t Not iucIiuIinK tl)o arrivals at some of tlie minor customs districts,
masses there have grown correspondingly better. Here
wUcli would probably raise tlie total to nearly 400,000.
From this it appears that not only were 1881 and 1882 on the other hand there have been a number of crop
«xceptional years, but in fact all the years since 1879. failures, and we have not been able to dispose of our surthough the first two were exceptional beyond the rest- plus yield at anywhere near former high figures. Simul1,720,790
5 years, 1870 to 1875.
169,986
141,857
138.469
177,826
457.257
1878.,
1877..
1878..
1879..
1880..
»
»
In these six years the arrivals reached 3,425,415, or an
average of 570,902, this average being larger than the
heaviest yearly aggregate previously recorded in our his-
An influx of
tory.
an important
3^ million of
factor in
human beings is
any revival of
certainly
Add
business.
to
an increase by reproduction in the same period of
twice that number (as is warranted by the results disclosed
by the last census), and we have 10|- miUions addition to
this
the population during the last six years, or since the
With
resumption of specie payments.
who
population
tion of
venture to assert that the
will
things has anything in
guide to the future ?
Studying this record for
closely, it will
at
the
old
thirty-five years a little
more
followed pretty directly the course of general business
and
reflects
the changes
and fluctuations in the various
"Way back in 1850-5
progress.
we
If millions for the
find arrivals of nearly
five years, a
in the
of a
aggregate in
years, covering
the
1850-5, there was in the next
1857
crisis,
a
five
fall to
It
likely,
is
now arriving are as a whole
than when the movement was at
much
better class
In those years the
arrivals comprised quite a
lured here by the glowEurope as to how easy it was to
get along in the United States, and who expec'el to
These have
live luxuriously pursuing a life of idleness.
had their minds disabused, and that class will hereafter
be more likely to stay at home.
But let us see what the nationality of the immigrants
Mr. Switzler, the new chief of the Bureau of
has been.
Statistics, has prepared a very interesting table, showing
of lazy, shiftless fellows,
ing reports circulated in
<
the arrivals from the
—
period of the
immigration movement since 1882.
height.
which was not again reached in any five-yearly the
period till the latest thirty years after when, however,
it was exceeded by a million and a quarter.
After the
large
grade,
however, that the immigrants
total
—
down
our population reduced
classes of
Thus the whole situation has changed,
and there are no longer the same inducements to intending
immigrants that there were only a few short years
And in that we have an explanation of the decline
ago.
number
condi'
of
to small proportions.
new
be seen that the immigration movement has
stages of our industrial
and the income
all
its
accepted as a
all
business has been on the
increase of
common with
and that the past can be
condition,
this
taneously, general
last
four years,
different
countries
and we annex
it
during each of
below.
COUNTRIES I'ROM WHICH IMMIGRANTS ARRIVED.
48,178
51.687
9,194
EDRland and Wales.
Ireland
Scotland
50.890
63,344
9,000
64,747
81. 486
:
1,859
84,054
76,432
18,937
179,423
Then in the following five years the civil war
158,092
129.V94
108,939
Total Great Britain.,
13,619
10,933
;1.164
13,5M
Austria
250.630
194,786
12S,2U3
179,«76
and the aggregate fell still lower, to 793,903. Germany
3-2,159
31,7112
16.510
13,587
Italy
29,101
23.:198
16.974
12.181
But with the settlement of that conflict there was an imme. Norway
64,607
MM,37?
28.5.i2
21,094
Sweden
98,109
t»,,S59
611.460
35,6,10
of Canada
diate upward bound, so that in the 4|- years ended June Dominion
131,344
76.195
01,033
75.593
All other countries
788,992
603.333
30, 1870 (the fiscal year had been changed, giving us six
•387.821
518.592
Total
months less than the full five years), the arrivals reached
Does not embrace immigrants arrived in a few minor customs districts.
Germany, it will be seen, still leads all other countries,
1,487,239, and this was increased to 1,726,796 in the five
years ended with 1875.
But a decline had already begun and its relative proportion of the total is about the same
before the close of this latter period, the 1873 panic hav- as it was in 1882 -namely a trifle less than one-third
ing had an immediate unfavorable effect, and for the next though the number then was 250,630 and now is only
five years the arrivals kept dwindling, so that the total
Next to Germany, comes Great Britain, and it
123,293.
S31,156.
interfered,
.
.
—
reached
much
no more than 1,085,395, and would have been
it not included one year
that of 1880
smaller had
of revived business activity.
—
Then followed
of course the
noticeable that the latter now does not fall far behind
the former, though four years ago there was quite a conIn other words,
siderable difference between the two.
is
ended with the late year, with a pace never the falling off from Great Britain has been much less than
before exceeded, and arrivals of almost three millions or from Germany.
As against Germany's 123,293, Great
nearly three times the aggregate of the five years imme- Britain in the late year had 108,939, or but 14,354 less.
diately preceding.
In 1881-2, Great Britain had 179,423 and Germany as
"Whether we have now touched the lowest point in the much as 250,630, a difference of 71,207. It is gratifying
present downward movement we can not of course say. to note how large a proportion of our immigration is
five years
.
July
THE CHRONICLK
25, 1885.]
from
derived
nishod
the
in
two sources.
these
232,232
year
late
Thus
they
the
of
fur-
of
total
93
home demand for manufactures later in the year.
But, notwithstanding all thin, trade ia at the preoent moment
in a decidedly disappointing condition.
The long-drawn-out
sion in the
And if we add those coming from Austria,
387,821.
Norway and Sweden, and the Dominion of Canada all stagniition is exciting surprise,
amendment fleems likely.
of the same desirable class we have 313,201 (out of
—
—
the more so as no speedy
Apparently the time for big profits haa gone by never to
coming from Italy and return. Upon one point, however, there seems
to be an almost
other countries unspecified from which it is evident that general consensus of opinion, namely, that a change is gradthe flow of human energy this way is of the very best ually passing over the method of conducting business.
Tho
kind.
It is perhaps worthy of remark, as illustrating middleman is fast disappearing and his profit is done away with
387,821), leaving only 74, (j20 as
—
Iiow general the falling
oil in
movement
the immigration
to the
this to
has been during the
last three years, that
not a country in
mutual benefit of both producer and consumer. We find
be the case more or leas in all departments of industry,
advantages are more clearly recognized, so will the
There is even an agitation in that most
82. And this illustrates what we said above, that there has exclusive of institutions tho London Stock Exchange in
been a common cause at work, first to swell the move- favor of the dis-establishment of the jobber. The ways of
ment, and now again to diminish it, local influences being conducting business occasionally run into new channels, and
apparently we have now entered upon one of those periods of
of comparatively little account as against the all-controllchange. One advantage in the abolition of the middleman
ing force of general prosperity or general adversity.
would be that speculative operations, with their attendant
Mr. Switzler also furnishes a statement to show the inflation of prices, %vould not be so easy of arrangement as at
ports of debarkation of the immigrants during the same four present, and that trade consequently would be conducted on
years.
About the only noteworthy feature in this is, that sounder principles and without those disturbing and frequently
by it we see that New York is still the landing place of senseless variations in values which have such an unsettling
influence upon the markets generally.
the vast majority of immigrants arriving in this country,
However, what we are more immediately concerned with is
about three-quarters of the whole number passing through the state of trade now and what it will be in the early future,
this port.
As regards the other ports, the marked and it must be admitted with regret that the prospect is far
decline at Huron is probably accounted for by the falling from brilliant, particularly as regards our export business;
off in the immigration movement under the head of the which, as the Board of Trade returns show, is as contracted as
ever.
It is now reported that a Royal Commission will be
Dominion of Canada, which, however, represents not
issued to inquire into the prolonged stagnation and if possible
Canadian citizens so much as it represents Europeans
to devise means for its removal or relief. The inquiry can do
brought over the Canadian railroads through the Domin- no harm and the labors of the commission will be watched
ion.
The decUne at San Francisco is doubtless explained with interest by those who will benefit by any palliative
by the law prohibiting the immigration of Chinamen. means which may be devised. In their competition with
Continental manufactures English firms have been handiThe following is the statement.
capped on the wages question. Germany, the most energetic
AKRITALS OF IMMIGBASTS AT THE DITFEREITr PORTS.
of Continental competitors, could produce more cheaply than
Customs Dlitricts,
1885.
1884.
we could and was therefore in a position to undersell us; but
1883.
ias2.
the table but shows materially smaller totals than in 1881-
and as
its
movement expand.
—
Baltimore
Boston
!».507
S5.aS8
2«,1HI
29.751
1,342
4.093
354.702
2.348
S»,660
17,001
Detroit
Huron
H,245
Minnesota
674
New Orleans
New York
2,32«
287,063
Passamau noddy,
1.4-^4
PhUadelWiia
San Francisco..
All other customs districts, Not
Totaf
22.479
1,118
reported.}
887,821
35.690
48,188
17,100
•J5,39S
l,IH3
1,707
406,697
8.3130
41.7S9
B8.I8B
20.494
71.424
1,101
3.142
502,171
3.148
24.808
8,191
10,940
80.-2.s-l
1,735
8,756
518,592
003,382
788,982
IS.iiSl
82,0«.H
18,572
BATES OF EXCHANGE AT LONDON AND ON LONDON
AT LATEST DATES.
BXOHAN BE AT LOUDON- July
On-
Time.
Amsterdam.
9.
Sate.
3 moa. 12 2i«
aioBANea
Latetl
July
July
July
July
July
July
25-40 925-45
Anlwen*- -July
St. Petersb'K
23Ss »231Iifl July
Paris
Checlig 25-171sa25-22ia July
Paris
3 mos. 2rv,!6>4»25-41i4 July
Anieterdam.
Siglit,
120?i SlQ-l?!
Banabiirg..
3 mos. •20-.52 »20-d6
Berlin
2052 »20oe
12-57isi*12-60
Frankfort...
Vienna
12-57isal2-<iO
Genoa
25-51 'ia2.i-.56'4 ;July
25-51'4»25-a(i'4 July
Naples
Madrid
46
46
Cadiz
liBlntn
Alexandria
'<>4(iie
aiS'a
5115iB»52li8
.
CouRtHiit'ple
New
Yorli.
..
Bombuy
OOd'ys.
D'm'nd
le. eiSied.
|july
[July
July
iJuly
IJuly
Ijuly
IJuly
our
London.
Rate.
9 Short.
9
9 3 moa.
9
9 Short.
9
9
9 3 mos.
9 Checks
9
9 Short.
25-24
DaU.
•12-3
_.
rinw.
20'3i
20-37
20-57
12-44
25-31
25-18
9
9 3 mos.
9
9
9
9 ...
9 '60 days
9 tel. tefo
"
9
9 4 mos,
4-8419
Is. 6^d.
Is. eSSgod.
88. 7d,'
—
as Germany becomes more prosperous this wages question will
right itself. As with ourselves, the workman there will
demand a larger share of the profits of his labor than he at
present receives, and as the Continental rate of wages assimilates more closely to our own, the position of the English
manufacturer will improve pari passu. Strikes against what
becoming rather
frequent in Germany, and agitation once started, though it
may only smolder for a time, seldom entirely dies out.
Sir Michael Hicks-Beach, tJie new Chancellor of the
Exchequer, has presented his budget, framed mainly on the
The proposed extra duty on
lines of that of Mr. Childers.
beer and spirits is of course abandoned, but the other portions
Mr. Childers estimated
of the old budget are retained.
a deficiency of £14,100,000, but he reduced this to £13,100,000
by an expected saving of £3,000,000 out of the vote of credit
of £11,000,000.
It appears, however, that the Admiralty
officials miscalculated their expenditure to the extent of
£850,000, and the saving out of the vote of credit will probably
now not much exceed £1,100,000. The deficit is therefore
placed at £13,000,000, to meet which the addition to the income
tax will supply £3,600,000 and the extra stamp duties and the
tax on corporations £250,000, thus reducing the deficiency to
about £9,300,000, wliich it is proposed to meet to the extent of
of £5,300,000 by the suspension of the sinking funds, leaving
£4,000,000 to be raised by an issue of exchequer or treasury
are described as "starvation" wages are
bills.
The money market remains in the same position. Some
demands were made upon balances during the
BlianKbai
(July
9l
48. ICsd.
week, but without in any way influencing quotations. Day(From our own correspondent.J
to-day loans are still quoted at }4 to }^ per cent. The weekly
London. Saturday, July 11, 1885.
Bank of England return shows that the proportion of reserve
A more confident tone seems to be spreading over the com- to liabilities has fallen as much as 4-31 per cent, namely, from
mercial community since the change in government was 48-63 to 44-32 per cent. This is not caused by a heavy
effected, due no doubt to the belief in the initiation and deficiency in the reserve, but by the large increase in liabilities.
development of a firmer foreign policy and a removal of The reserve has certainly fallen off to the extent of £293,486,
political anxiety. At the same time other important inlluences but in the private deposits lield the gain is £3,045,.586, the total
have been at work. For instance, money is as abundant as now being £33,300,000, With such an accumulation of idle
ever and as readily forthcoming for the furtherance of bona money the low current rates are fully accounted for. Com fide objects, and, thanks to the magnificent weather, we have pared with this time last year, wlien the Bank rate was
the prospect of a good harvest and the promise of some exten- the same as now, private deposits show an increase ol
Calcutta
Hon^ Kong.
iB. «lBigd.
July
July
'•
rather heavy
—
:
:
and the
the reserve is nearly £3,000,000 heavier,
£2,500,000.
of
increase
an
stock of bullion exhibits
The rates for money have been as follows
f5,250,000;
:
Open market
Irondon
Interest allowed
for deposits bt/
rates.
Trade
BankBOU,
Bills.
Joint
At 7 to U
Stock
Six
Four
Tliret
Tour
Six
Three
OaU. Days.
Months Months Months' MonthslMonths^ Months Banks.
U
"
"
19,
26
JnlJ 3
••
2
1
1
1
a-;iW«IJ6l 62 :1!4®2M1J«®2^
H<» -\l
2
2
lOl
1
HH
2
2
^@-;»a
-
1 1»^(3
1
1
i?i®2>^
it^a'^ ^>^a3
The following return shows the position of the Bank of
England, the Bank rate of discount, the price of consols,
the price of middling upland cotton and wheat, and the Bankers'
Clearing House return, compared with the three previous
The number of bills of sale published was
more than last year, raising the net increase to date
The number published in Ireland was 15, being less
to date being 286.
280, or 45
to 363.
than
last year, the decrease to date
Clronlatlon.exolniling
in the imports, but
26,971.590
4.102.347
other bills.. 25,S12,460
T-daj6,208,264
Public (lepositB
26,225,605
26,350,315
5,867. 646
4.'.56,71i
Other deposits
32.300,404
17,0.i4.990
22.3.i3.707
27,039,553
13.579,571
23,182,068
14,225,736
22.757,884
11,985,643
21,783,319
11,646,513
27,43:^,813
Govemm't securities.
24,701,341 22,246,828
23,677,541
&
Other securities
Bes've of notes* coin 17,139,867
Coin and bullion in
both departments.. 27,202,327
14,649,471
22,607,228
12,455,951
Proport'n of reserve
43
44-32
2
t« UabUitiea
Ban* rate
39%
42\t p.
0.
p. o.
p. c.
2 p. c.
lOOJfl
p. c.
p. o.
y9''8
p. c.
V. <
99''8
lOM
chief Continental
have been as follows:
now and
Jul\l
IntWtSt
BLt
Bamit
Rate.
for the previous three
Bank
Open
Market
Rate.
Open
Market
4
2H
2%
4
3
Bank
RaU.
Open
Bank
Market
Rate.
Hamburg
Amsterdam
4
2«
2ii
2H
Brussels
Iladrid
3
4
sa
4
s
i
4
8
4
Vienna
4
6
8M
4
3«
4
an
61. Petersburg,
8
6
6
6
3
4
4
6
Copenhagen
3ii
an
8M
4
Frankfort
4
3
Messrs. Pixley
3
& Abell
4
2H
2M
2«
4
4
certainly
is
shown
The imports into and exports from the United Kingdom
during June and the six months were:
Total Imports.
3B,';40.030
ZH,05%«ai
29,540,981
217,183,442
198,081,141
192,447.401
3
3
4
2«
2«
4
Open
Market
3
4
4
3;i
4
3
2K
2^6
2H
M
4
3«
6
June.
6 Months.
£
20,034,912
18.640,1-4
17,717,289
llll,fl(iS,9()5
0,92.-<.000
115,«21,173
104,39S,938
6,02S.a03
4,810,543
£
£
31,770,000
»3,«18.570
29,075,823
of imports
and
exports:
IMPORTS.
1883.
From United States-June
6 months...
All countries -June
6 mouths
Wheat.
United States— Atl. ports— June.
6 months
ports-June
6 months
countries-June
6 months
Pacific
All
1885.
Cwls.
1881.
Cwls.
758.351
7,050,201
1.117,531
9,403,674
319,912
6 079,369
716,909
8,897,877
615,534
7.138,903
1,848.125
8,774,391
7,082,723
31,717,993
13R,531
1,0,39,655
1,134,479
9,001,998
Cwls.
36i',534
19,905,285
5,403,773
624,090
7,539,643
. ,„,
60o.42S
6,369,086
2,649,888
9,671,305
7,083,719
29,726,195
94.152
842,697
1,129.837
7,420,641
173,884
1.061.080
1,344,950
9,393,379
700,898
6,152,028
405,300
5,505,222
2,8-!5,864
EXPOBTS TO UNITED STATES.
1S83.
Yards.
7,804.300
6 months... 35,168,800
3.150,400
Linen piece goods—June
6 months... 38,496.400
257,000
Woolen fabrics— June
6 raonthg . .
2,563,600
48,460
Worsted fabrics— Juno
494,514
6 months...
Cotton piece goods— June
.
The movements
Gold— The only gold
6 months..
To and from United States.
1883.
1884.
£
£
£
£
£
£
910
48.175
2,468
B.Ofll.Sa
8.37,753
2,473,210
459,785
2en,uo
300,730
8fl5,439
4,S.i0,9«8
1,309,821
115.R72
1,190,776
48,650
8,002
890,749
6,385,295
84.'i.ll47
4:19,,30U
6,084,777
583,631
690,1.13
1,635,979 4,799.069
t-00,K96
87«,347|
1,509,9321 5,186,938
3,292,445
1885.
2,102
481„3S7
8,142,839
OSS.Oat
SILVER.
Imports in June..
months,.
Do
Bxports in Jiuie..
Do 6 months..
341,4 00
2,207,200
60,453
395,131
1885.
3.0(13,944
,S78,12I
Do
27,821,600
4,361,000
34,419,600
316,700
1884.
In Jimc..
Do
1885.
Yards.
3.98'^, 80
2,603,<00
90,972
586,554
ima.
6 months..
Bxports In June..
Imports
1881.
Yards.
3,611,200
29,387,OJO
3,617,800
37,199.200
in the precious metals have been as follows:
To and from aU Countries.
write as follows on the state of the
;
Colonial MerUtse.—^
£
The following are some of the leading items
bullion market
eent into the Bank since our last consists of
sovereigns, which, to the value of £15,000, have been so disposed of; a
further lot of .it least *2U0,000 will be in London to-ni'irrow, ex-Tasmauian, from Jlelbnurne. and these will also be sent in. There is a good
•demand tor bars and tV)iiij;n roia (especially German and Russian) for
Holland, and as the arrivals have been but small, about £136,000 have
been withdrawn fioui tiie Bank for export. We have received since our
l.-ist £27,130 from the Ea.st. £-',O0Otrom Sydney, and *1,100 from River
Plate total. £30,230. The Maskelync has taken £30,000 to Buenos
Ayres and the Midway £7,456 to the West Indies.
Silver-The market has been very steady durin? the week, and prices
have scarcely varied, the rates ruling at about 49l4d. per oz. standard.
^Exports Foreign <£
^—Erpnrfs British <£
Irish Products.—.
June.
6 Monllis.
£
£
18S3.,
1884,.
1885,
—
6 Months.
June.
UniteaTtates-Jane
6 months
AU countries-June
6 months
2«
2H
2«
2M
Parts
Berlin
weeks
2.
Jiilu
9.
increase
it is
Cotton.
3
4
99''8
Consols
42s. 4d.
479 7d,
33s. 3(1.
378. Id.
Enjj. wheat, av. price
4i->,Bd.
65, „d.
5%d.
S^ud.
Mid. Upland cotton..
9583.
9d.
O'ed.
No. 40 mule twist
ClearluK-Houserefn. 110,745,000 114,237,000 104,223,000 103,650,000
The Bank rate of discount and open market rates at the
cities
11.
£4,742,687.
M
a.
JB
Some
of enterprise are apparent.
1882.
1883.
1884.
1885.
being
The Board of Trade returns for June are of the usual unsatisfactory nature. The same indications of a diminished volume
.
years
[Vol. XLI.
mainly the result of the large arrivals
of cereal produce. The receipts for June are £493,333 heavier,
U- H
the six months of £6,533,740. In the
H-H but there is a loss on
H- M exports of British and Irish produce and manufactures there
H- H is a deficiency of £931,885 for June and £11,223,085 for the
H-H
half-year. The re-exports of foreign and colonial produce show
a loss on the month of £1,817,660, and on the half-year of
I
"®^ilS'Sr-|i«ilii'lSa« llX@2M2 @2'A
® -VA<^IH 1H®2 (IXS^K 2 «2>ii
HOt
Xa -'«-13-l6;i>43 -,1«®1-X2 e2H 2M02M
«® -U^a -'m®-i ®2 |i-«a2 |i!^g2!^
6 »
"
.
THE CHRONICLE.
94
lane
—
.
1
R2,Ri!0
277,519
1,503.629
738,210
6,344,161
We have had another week of splendid weather. The hay
New York and £20,000 froiri
harvest has been rapidly proceeded with and the produce has
to Bombay.
been gathered in excellent condition. Owing to the rapid
Mexican Dollars have also been In demand, and at higher prices,
owing to orders on French aocounr. The rate, which at the date of our growth of grass during June tlie crop is much heavier than
last ciicular was 48->ii,d. per oz., may now I'e (lunied at 48i'iiid. per or..,
was at first expected and the quality is first rate. The weather
buyer.'. The Werra brought about £7,0J<) from New York,
has been about all that can be desired for the wheat which is
The quotations for bullion are reported as follows:
rapidly approacliing maturity, and although in some parts of
PriM 0/ Oold.
JiUy 9. July 2.
Pr<« 0/ Silver.
July 9 July 2
East Kent the long drought is causing uneasiness, the general
d.
agricultural outlook is more satisfactory tlian it has been for
a.
d.
Bar gold, fine.. 02.
77
Bar stiver, fine. .ox.
4i'«
some years.
Bar gold, contain'^,
Bar sUver.eontalnThe grain trade has been quiet and featureless throughout
30dwt8, silver. oz. r? lox 77 10«
inKSgrs. f;oId..oz. 4fl«
19H
The
arrivals comprise about
River
I'late
;
total,
£76.000 from
£96,000.
Bpon. doubloons .oz.
fi.Am.doubloons.oz
The
P.
&
O. steamer has taken £73,000
Cake silver
ozMexican dol8...oz.
Bl'H
53«
48 9-ia
48 3-16
Baron Albert Grant has been compelled to claim the indulgence of his creditors. His difficulties are due to a lock-up of
capital in industrial undertakings,
about £40,000 being
absorbed in white lead manufacturing patents and works. He
estimates tliat valuing his assets at a moderate rate, and allowing time for realization, there will be a surplus, after paying
aU
debts, of £lli),083.
the week. Notwithstanding the splendid weather and the disinclination of buyers to allow their operations to go beyond
the limit of actual requirements, there has been no disposition
Had such been the case less money would have
had to be taken; as it was, the level of prices was about the
same as in the previous week. The stocks of foreign produce
in the United Kingdom are larger than was anticipated, and it
is clear that there is sufficient in hand to prevent any pressure
to force sales.
this side of harvest.
On
the 1st of April last the stock of
Tenders for the £.3,500,000 Indian 3 per cent loan reached a
wlieat in London was 242,003 quarters, but it has now
total of £7,385,000, at prices ranging from the minimum of £85
increased to 362,000 quarters, against 405,000 quarters a year
to £87 5s. Tenders at £85 63. 6d. received about 33 per cent
ago. At Liverpool the accumulation is very great. The stock
and those above in full, Tlie av^age price obtained for the of wheat there on the 1st inst. was 636,000 quarters, chiefly
stock was £85 10s. 7i^J. per cent.
Californian and Chilian, or more th.an double the quantity held
According to Kemp's Mercantile Gazette the number of
on the first of April lust, the supply then being 3;)7,000 quarfaUures in England and Wales gazetted during the
week ters. In July last year the total was 457.500 quarters. No
ended July 4 was 83, or 13 more than last year, the net increase
dearth of supplies is therefore threatened in the immediate
:
July
may
95
xruan
be the extent of our receipts from
and it is prolwible no particular
cliange in prices will occur between now and hardest.
The following return shows the extent of the imf>orts of
America
later in the season,
produce into tho United Kingdom during the past
4-<
weeks of the season, the sales of home-grown produce,
the average prices realized, and other items, compared with
cereal
last season:
DfrORTS.
1893-4.
1982-3.
4y,8S0.C'il
l.<.<0S.4n4
51,9111,104
12,092,474
1.970.679
2.!M7,991
10.510.991
1,517.272
2.498,008
22,9!>8,(>20
14.011,191
1984-5.
Wbeat
owt. 4(i.4O!),001
Barley
i.x72.:ui
10.0ll,i9l
1
0»U
Pea*
Beans
1,7.S2.^30
Indian oorn
Flour
19,31(),5«3
12.852,437
14.543,108
8,33l),3iJU
1)
in
4-1
1882-3.
1891.2.
ImportDOf wheat. owt.40.4titf.001
nnportHof flour
14.011,101
42.3«o.(;.'-,l
50,1.1><,560
Bales ol home-i{rowu..30,8.>7,740
30,002,100
56,991,101
11,543.409
39,977,030
01,893,101111,412,412
89,055,395
12,9.-.2,4:t7
97,938,595
Total
The extent
9.33S),;;iii»
oats in the leading markets of
weeks of the season, together with the average
prices realized, compared with the previous season, are shown
Av'ge
Price
aaUt.
$.
Av'ge
Price
Salet.
t.
rf.
Salet.
a.
Sreat Britain
Franee
I.
tl.
8
5
Converting quarters of wheat into cwts., tho totals for the
whole kingdom are estimated as follows:
1994-5.
cwt- 30.9 J7,710
1883-4.
36.682,108
1882-3.
39,977,9.30
1881-2.
30.577,456
The following shows the quantities of wheat, flour and Indian
com afloat to the United Kingdom:
LnslwMk.
Atprejient.
Wheat
qr«. 2,30O.(X)O
Flonr.eqnal tu lira 200.000
Halze
2.1T1.000
2.">5,0OO
322.000
cirB.
1883.
1,610.000
174.000
394,0)0
Last year.
1,029.000
212,000
209.000
3,92.000
Flnauclftl niarliet»— Per Cable.
The daily closing quotations for securities, Sec, at London
are reported bv cable as follows for the week ending July 24:
EnKlliib
London.
Bat.
Silver, per oi...'.
d. 49Si6
9AI4
OonsoU for money
93»4
Consols for account
Fr'oh rentes (In Paris) tr 90-75
1153^
D. B. 4>«B0(1891....
U. B. 48 0f 1907
1251s
40-'9
Canadian Paoitic...
cue. Mil. &8t. Paul.... 8i'ie
12''9
Erie, coiuiuou stock
nilnolg Ontral
132
Hon.
Tites.
Wed.
Thuri.
Fri.
49M8
49Mg
49S,8
495,1
9;)3s
OO'ls
99'i«
495,,
99ili«
991I18
80-97 la
0938
81-00
115»^
125%
47
82 19
14%
133'4
5?i4
99 »8
99»9
81-10
125'8
46>4
801a
461a
81%
14%
1314
\Zl\
133
5259
52
Pennsylvania
517,
Philadelphia <Se Reading
l*Aw York P*»ntral
7%
8>4
7%
07-'a
911 °»
9779
90-%)
90-87 la
11.5%
115%
IZS's
125-rt
45'3
451-s
(•3:ls
84^8
1458
141a
13314
13313
USOg
125%
115%
979
53 14
10
981-3
9914
53
7%
I
991a
I
®0mmct;ctal and S^lsccHaiicous J^ctws
National Banks.
been organized:
3,S60-Tlio
Tliiril
—The following national banks have lately
KiitionnI
Bnnk
Oliver HowiirO. President
Importt.
$6,100
0,502
63.001
5,529,412
.,.,.
Soatli
America
^U other oountrlea.
Tetal 1885
7011
Total 1883
31,089
a. 1
30,435
1,300
70-f,623
19',S9i
21,786
298,323
63,2«7
$14^.572
$5,638.42.5
37,708.999
257,709
20,3-i9
11,037
6.090,982
4,9(9,34&
$3,375,078
373,463
92,100
210,821
$1,217
$27,8 3»
632
8,235
500,124
20,354
275,701
209,981
495,522
7,458
$6,100
ToUl 1884
«
1,412.001
127;386
195,072
224.210
.
«irte«./an.l.
$
$270,000
Bilker.
Sreat Britain
Prance
$392,400
-.^1.990
8,202
Westlmlles
76
2.H0
aCexloo
115,006
Total 1885
Total 1884.
Total 1883
$-.37,592
9,626.791,
248,459
293,735
7,422,311!
7,054.1081
$30,659 $1,01.'5,567
2,129.373
86,285
179.776
2,410.26&
Pru-e
...:2.509.603 14
Wheat
TORK.
Week.
atneeJan.l.
9«rmany
Av'j;t
02,555.904 33 11 2,306.419 41
...13,9.'i2.11» 30 11 3.0.52,345 31 6 1,943.127 :13
261,:t94!21
i70,023|20 6'. 354,0J5 20 4
Wheat, qrs...
Barley
Oatg
MBW
MaporU.
Week.
1882-83.
18S3-84.
!%5
-78
0otd.
South America
All other ooontrleB. .
1881-85.
t6.123.52a
!•
BXPOBTS AMD IIIFOBTS Or SPBOta AT
past 44
in the following statement:
188S.
7 10-i,070
The following table shows the exports and imports of specie
at the port of New York for the week ending July 18. and
since January 1, 1885, and for the corresponding periods in
1884 and 188;):
30,577,450
home-grown wheat, barley and
England and Wales during the
of the sales of
$7,782,292'
173,309,240' 188,787,901;
Vest Indies
Uexloo
1883-4.
1884.
1883.
$7,626,589
.
1,020.017
weeks:
1894.5.
.
Frev.reiH)rlu<l..
1.8H-.,0'I1
23.5-'l,230
nw T tmm roa raa waax
Total 20 weekii. $1-10,934.935 $100,550,1 KlV
1881-2.
2,5H8..50l
ln,lt51,370
rmoM
1882.
Fur the week
50,13M,5(;0
11,7111.317
f.llS.'ioa
14.7.'l.-.:ll
Supplies available for consumption (exclusive of stocks on
September
—
'
THE CHRONICLE.
33, l«88.
future, whatever
.
.
of Malonc, N. Y. Cnpitnl, $.:0,CCO
John C. Piase. Cashier.
;
—
Of the above imports for the week in 1885, f 1,300 were
American gold coin and $3,443 American silver coin. Of tho
exports during the same time, !{;j,2")0 were American gold coin
and $115,000 American silver coin.
—
United States Snb-Treasnry. The following table shows
the receipts and payments at the Sub-Trea.sury in this city,
as well as the balances in the same, for each day of the past
week
BaUinetK.
DaU.
Reeeiptt.
Paymentt.
Coin.
S
$
1.590.096 92
Ourreney.
1
$
$
1
23.
21.
1,996,796 00
9^-2,001 93
1,210,647 28
1,314,901 07
727,773 46 157,1 l«,39l 79,21,358,615
1,379,337 75I 157.392,086 67,21.695,743
999,127 23,157.951,747 29,22.11>l,751
.539,009 36; 159,109.479 16 22.270.012
G90.3->1 llil58.59i,4i>2 75 22,299.392
922,565 33| 158,997,232 38|22,2a8,791
Total...
8,932,104 40
5.262.167 23
JidylS.
"
"
"
"
"
1,971, 1.-9 20
VO.
21.
22.
U.
S.
Treasury and the
—
00-
57
73
43
01
\2
1
New York
Ban'ks— (Silver Pay-
ments). At a meeting of the Associated Banks of New York
City, held on the 13th of July, the following resolutions were
unanimously passed:
Wliereas, After careful inquiry into the cnrrent o'perations of tho
8t<iCt-8 Treasury, it U ascertuined that wiih the continued parchase of two inillions Silver Rullion per month the proimble receipts of
Currcney
will be insuftieleut to meet tho deman'ls upon it until the
Gold
meetins of CoiiKreas in Ueiemlier next; hut that the Secretary will he
to
make
compelled
Ills payments in .Silver Dollars, \rhieli will bceome a
most rtintuiloMj; element in the daily business of the country therefore
ifMofr^rf. That to iivert this threatened dangei- and in the oonltdent
belief that Concress will tJtkc early Htep.4 to pre,veiit the det^irioration
of the present Commercial Standard of Value; tho bank;* hereby render
to the Oovernment, from tlieir Gold Reserve, the sum of Ten Milliou
United
;
Dollars in exchnu),'e for that amount iu fractional Silver Coin, or for
such other currenc.v as the Clearim; House Commlt'ee may iippioTfl,
the same to be ai>portlimed amons; the bankn In the Clearin)? lloitso
respeetively. pr>i ratt of their deposits and sold reserve.
RtSfUrcfl. Tuat should this amount prove ln.surtleient, a further sum,
not to exceed ten millions, be oflered, and that the Banks of Philadeltila. Boston, Chicago and other cities be invited by the CleariuK House
Ooinmittoe to participate In carryius out the objecits or these Resolu-
Imports and Exports for the Week. The imports of last tions.
week, compared with those of the preceding week, show an
Cliicasro & .Vtlantic— New York Lake Erie & Wo.9tcrn.
increase in dry goods and a decrease in general merchandise.
The total imports were $7,:?48,834, against |T,.594,6'J9 the pre- In the case of the Chicago & Atliintic Railway Company
ceding week and 10.8-15,28.3 two weeks previous. The exports against the New York Lake Erie & Western Railroad Comfor the week ended July 21 amounted to |0,123,.')2;i, against pany and the New York Pennsylvania & Ohio Railroad Com
fC,641,f!19 last week and"|.5,484,GyO two weeks previous.
The pany to compel these roads to ship through freight over the
following are the imports at TSew York for the week ending Chicago & Atlantic, Judge Wallace has denied the motion of
Uie complainant to remand the suit to the Supreme Court.
(for dry goods) July 10 and for the week ending (for general
merchandise) July 17 also totals since the beginning of the
Auction Sales. The following were sold at auction lately
flrat week in January:
by Messrs Adrian H. MuUer & Son:
—
;
FORKION IHPOKTS AT
For Week.
Ory Goods
Oen'lmer'dise.
Tot.ll
Rinee Jan.
Dry
WKW TORE.
1882.
1883.
$3,349,701
8,093,.50xj
$3,599,216
8,139,019
83.700,710
0,680,579
$11,443,209
$11,737,265
$10,390,299
$7,318,854
$74,430,391; $711,314,908
20s,9ri,947i 190,805,915
<6->.438.803
$53,216,099
156,0JS.133
1884.
1885.
$2,187,120
5,161,7J5
1.
(i4)o.ln
Geu'lmei-'dise..
181,077,226
Total 29 weeks. f283.402.338$261.l50.723!$247.118,029 209,251,832
In our report of tho dry goo<l8 trade will be found the imports of dry gooils for one week later.
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending July 21, 1885, and from January 1 to date:
Bonds.
$1,500 Metropolitan Gas Lt.
Co. 0*. o»up-<, duo 1901
H70g
$9.0.10 Chle. & West. Indiana
RR. Co. 6s, Ken. mort. cps.,
due 1932
101
$1,000 Chic. Mil.* St. Paul
(Wlseon.'tin Valley Dlv.) l«t
O.s. cmii.o. due I0'20
99
$5,000 Itaiikers" ^fc MerchnnU"
Tel. Co. Keeelver's certfs... SOHi
$1,000 Rome Watertown .k
Ocden.^burt; 7h gen. inort.
slnk'K fund, due 1891
109»a
$2,000 .Jersey City 7s Water
Bonds, die 1904
11C>4
Shares.
64 Nat. B'kof Com...l49%-15l«t
lOU. 8. TrustCo
404%
Shares.
& 7lh av. RR. Co. 295
Newimrt & Wiekford RK.
35
and Steamboat Co
250 Meehnnlc.-*' Nat. Hank. 140
80 Mer.-h«nts'Nir. Bank. ..130
16*
uoreoplis Hank
4 B'way
5
10
Terr.'
Ilauro
port
RR. Co
&
Loijans-
\H
2610
20Cbeniio»l Xat. Bank
100 Broadway it Seventh Av.
2»3-293«9
RR. Co
50 .Vmei-icin Kt. Nat. Bk...ll8%
3.-I
I
N.it.
Bank ...120
I. Bauk...llli3-113
150
40
N'.»t. Bank ..'^60 "4
18 -Vut. 1; iiiK of C)mujrce.l.50
lOCIIn'on r.re In.?. C
120
1,000 New Yoi-k A New Ea<.
Teleplione Cj..87c. pr. sbar*
i
1
—
.
: :
;
.
THE CHRONICLE,
96
Coins.
ghje jankers' ^a^ette.
The following aivldends have recently been announced:
Per
yame of Company.
Railroad.
cent.
& Toledo.
i
mten
Payable.
Book* Ototed.
IDays incluiive.)
1338Stk Aug.
IB
1
1
2
Aug.
Aug.
Aug.
Anierlcnn Ktre
5
July
15
iniHCollancons.
Pullman's Palace Car Co. (guar.)
2
Aug.
15 Aug. 2 to Aug. 16
Columbus HdckiuK Val.
Banks.
3
German American
New York
3
National ExoUange
Pacific (quar.)
Insnrance.
July 22 to July 31
1 July 25 to July 31
at the Stock Exchange has kept up throughscarcely halted until the moderate reaction
out the week, and
of yesterday and to-day.
The main question that stock operators will now ask themselves is not whether the rise was warranted by the changed
situation, but whether it has probably gone far enough for the
Take a single stock, for instance, as a type of its
present.
Lake Shore sold on May 13 at 50f and on Thursday of
class
is this enough for
this week at 71, a rise of 30 J points
the present, or should the stock keep right on to 80
To say that the rise has been about all that
or higher?
seems warranted by the facts so far known, is merely to say
but
that stocks should hang awliile near their present figures
if it is thought that the trunk lines are yet likely to advance
another ten points, this is equivalent to saying that they are still
a good purchase.
Orders from outside buyers have, no doubt, been in the market this week to a greater extent than heretofore, and if it be
assumed that their orders will greatly increase, until they take
the market quite out of the hands of the professionals, and carry
it on by themselves, as they did in 1879, there is no limit to
But that
the prices that might be predicted for active stocks.
is quite improbable now, as there is nothing in the business of
the country to sustain it, and the attempt to cry up prices to
any such extent is only an attempt to boost them for .sijeculative purposes.
Rates for call loans during the week on stock and bond collaterals have ranged at i@l} 'per cent, and to-day at 1®!^.
Prime commercial paper is quoted at 3@4 per cent.
The Bank of England weekly statement on Thursday showed
a loss in specie of £615,537, and the percentage of reserve to
liabilities was 44 15-16, against 45|last week; the discount rate
remains at 3 per cent. The Bank of France gained 4,983,000
francs in gold and 3,707,000 francs in silver.
The New York Clearing House banks, in their statement of
Julv 18, showed an increase in surplus reserve of $673,750,
the" total suqilus being $64,573,475, against |63,900,735 the
previous week.
The following table shows the changes from the previous
week and a comparison with the two preceding years in the
averages of the New York Clearing House banks.
—
;
;
1885.
Jtdl/ IB.
Loans and dls.
ii!307.627.700
$4 86
3 89
Napoleons
X X Reiehmarks. 4 74
X Guilders
3 96
.8pan'h Doubloons. 15 55
Me i. Doubloons.. 15 55
«$4 9a
a 3
» 4
® 4
94
78
00
915 70
®15 65
— 99%» par.
— 93 a — 95
— 34% a — 8513
Do uncommero'l. — SB's ^ — --.
— 76iaa — 77
Peruvian soles
Silver
Hs and
"as.
Five francs
Mexican
dollars..
a
4 84
99%®
par.
EngUshsUver.... 4 78
84
bars . 1 OOTgai 1 07^2 U. S.trade doUars
pars "4 prem a. 8. sllverdoUars
Fin5 gold bars
Dimes & ^ dimes. - 99hiai par
Flu"} sliver
—
a—
United States Bonds.— T)ie business in government bonds
has been quite limited, and there is no feature to the market,
prices remaining about steady, though the 4s area little higher.
The
NEW YOKK, FRIDAY. JUI-Y ^4, 1883-3 P. M.
The Money Market and Financial Situation.— The strong
upward movement
—The following are quotations in gold for various coins
Sovereigns
DIVIDENDS.
[Vol. XLI.
closing prices at the N. Y. Board have been as follows
Juljf
24.
4i9S,1891
4'«8,1891
48,1907
48,1907
38, option U.S..
68, car'oy, '95..
63,onr'oy, '96..
63, onr'oy, '97..
69,our'oy, '98..
6s,our'cy. '99..
*
This Is the price bid at the morning board
no tale was made.
;
—
State and Railroad Bonds. State bonds have been
neglected, the only sales recorded being: $13,000 Tennessee
at 91|j
compromise bonds at 54f; $10,000 Alabama Class
$15,000 Arkansas 7s, Central Railroad issue, at 3J; |0,000South Carolina 6s, non-fundable, at SJ—J.
The railroad bond market continues active and strong, and
has at times presented quite a buoyant tone the improvement
Erie 3ds and
in prices has been general and well disti-ibuted.
West Shore 5s continue to show great activity and strength,
and both were sharply advanced, though afterward reacting
slightly.
In regard to West Shore it is rumored that Mr. Vanderbilt has obtained control of a large amount of bonds and
that the N. Y. Central will offer its $1,000 debenture bond,
bearing 4 per cent interest, for $3,000 of the West Shore first
mortgage bonds. Erie Sds close at 60, against 57f last week;
Rio Grande Ists
West Shore 5s at 43 J, against 39i; Denver
at llOJ^, against 105^; do. consols at 63^, against 58^; Denver
& Rio Grande Western Ists at 47J, against 43|; N. J. Central
1st consol. assented, coupon off, at 103f, against lOli; Louisville & Nashville trust bonds at 95.^, against 95; do. general
mortgage at 101|, against 99|; Richmond & Danville Ists at
103i, against 100 J; do. debentures at 70J, against 70; N. Y.
Chicago
St. Louis Ists at 84, against 83^; St. Paul, Chicago
& Pacific Western Division, at 99J, against 98; Texas New
Orleans, Sabine Division, at 90, aeainst 87; Missouri Kansas
& Texas general 5s at 64J, against 64 do. general 63 at 78,
against 77^; do. consol. 7s at IISJ, against 113J;.East Tennessee 5s at 51 J, against 50i; do. incomes at 13^, against 12^.
A
;
&
&
&
;
Railroad and Miscellaneous Stocks.— The bull movement
market has continued most of the week, and prices
have made still further progress in the advance. The speculation, however, has been accompanied by some reactions, and
certain stocks have shown a disposition to lag while the rest of
Ditfer'nces fr'm
1884.
1883.
the market was very strong; it has been remarked that the
Previous Week.
Jul// 19.
Julu 21.
Gould stocks have not, as a rule, been up to the rest of the
Ino $1,035,900 $288,003,700 $328,356,100 market, and this has given rise to the rumor that Gould was
Inc.
131,100
72,731,600
61,016,700 short of the Vanderbilt stocks.
The ordinary reactions, in one
Ino.
in the stock
Beserve held
110,346.200
n.737.900
28.100
387,883.300 luo. 4,124,600
45,198.100 Inc. 1,572,800
$96,970,825 Inc. $1.031, 150
161,544,300 Ino. 1,703,900
14,416,9J0
15,583,400
304,783,100 326,205,100
31,873,100
26,49J,U00
$76,197,025 $81,551,275
104,605,300
91,140,600
stock or another, arising from sales to realize profits, have usually been followed by a still stronger market, indicating that it
was easier to push prices up thau to depress them.
Barplns
864.573.475 Inc.
$28,408,275
to the market,
Bpecie
circulation
.
.
Net deposits..
Legal tenders.
Legal reserve
$672,750
$9,589,325
Exchange.— Sterling exchange has been very firm in tone,
notwithstanding the limited amount of business done, the
strength being attributed partly to the sale of stocks for London account. Posted rates were twice advanced i cent each
time the rates now being 4 86 and 4 87^.
—
—
To-day the rates on actual business were as follows, viz:
Bankers' 60 days' sterling, 4 85i@4 8oi; demand, 4
86f@4 87.
Cables, 4 87 @4 87 J.
Commercial bills were 4 83 J@4 84. Continental bills were Francs, 5 30@5 30| and 5
17i@5 18ireiehmarks, 94|®95l and 95J®9of; guilders,
40i@40J and
40|®40i.
The following were the rates of domestic exchange on New
York at the under-mentioned cities to-day Savannah, buvine
par, selling J® J premium; Charleston, buying par@J pre"
mium, selling 3-16@i premium; :Soston, par@5 discount; New
:
:
Orleans, commercial, 125 premium ;bank,
Bt. Loms, 75 premium
Chicago, par.
300@250 premium
;
The posted
rates of leading bankers are as follows
July 24.
Prlmebankers'Rterllng
bills
Prime oommerolal
Oooomentaryoommerolal
on London.
Paris (francs)
Amsterdani (guilders)
,
"]
fnnktort or Bremen (reiehmarks)
There has been no positive intelligence of much importance
and the activity still hangs on the reports in
regard to the New York Central-Pennsylvania- West Shore negotiation, which is regarded substantially as an accomplished fact.
There is a settled conviction (whether correct or not) that the
changes in railroad control thus to be made will bring about a
better condition of affairs in the railroad field and give all the
leading roads a chance to get on a better footing, where they
will be able to make profits out of their business. The grangers,
Vanderbilts and Lackawanna have been very strong, though the
improvement extends to many other stocks on the list.
Jersey Central has been very prominent in the dealings, and
advanced rapidly under speculative buying, reports being
revived that Baltimore & Ohio was seeking to gain control of
the line or to make terms for its use as a New York outlet ;
but it was not known who were the actual buyers of .lersey
Central in this movement. Reading also advanced in sympathy.
Another feature was a sharp rise in Manitoba, said to be due
to a demand for the stock under a renewal of rumors that
Chicago Burlington
:
&
Q\uucy was seeking
control.
The Gould stocks, especially Union Pacific and Missouri
Pacific, showed some weakness early in the week, and at times
affected the rest of the market.
On Thursday afternoon there was a break in prices during
the last twenty minutes of business, anfl to-day the tone was a
little irregular until 3 P. M., after which time weaknei^s was
developed, and several of the leading stocks declined about 1
per cent in the last hour.
.
...
THE CHRONICLE.
JUIA- 25, 1S85.]
97
EXCII.VNOE PK1CE8 FOR >YEEK ENllINtt JWI.Y 34,
NEW YORK STOCK
HiaHXST AND L0WB8T PBIOES.
Monday.
Batunlar,
July li
July
'iO.
Toeaday,
July 21.
WedneaOar. Ttaanday,
July 23.
July 23.
Frfalar,
July 24.
Week
(Hharea).
Loweat.
H MI.HOAHS.
Alltjitn ,v
BciBtiih.v
K\u
S'i--.iii<'lii>iiiirt
N
uuvldaJt No..
Cfti
Cnii
Oeii
ii
63
40
a4>a
SSSi
40>i
SOHi 41
•10
Sl-'ij
33
32'. 88
6
83 Hi
10
•0
10
40 Si
30%
82^'34U
33>«
6
Do
Do
5
ti
lutpret...
10
IQt,
10
adpret
A
Alton
A
34
e
im
31
•UHi
33 >4
S
10<a
5
lOHi
4S>4
81 Hi
9
10
46 '3
36
10
31
11
48>4
U 47 "a
10
7.216
4.010
49
34 Hi
44 Hi 47
33 Hi 34 Hi
0^4
lO's
6H1
lO'i
'5>4
"6 Hi
O'l
10<3
6
lO's
6
72,986
12.035
650
1.480
139 129%
80 Ij 83 '4
'
unlnoy
112HiU2Hj
82Hl
86%
101',
Winona A
HouHtnn
Texas Central
.6
ct.
Indiana Blooininj^t'Uib Wost'u
Lake Krle A Westoru
Lake 8tutre
\ew
.
Chic.
Slanhattan Kleruted, oonsol..
Loutrirllle
..\lbiiny «&
Manhattan HeachCo
Memphis
it
8>4
•4 Hi
513
rh;irleston
Metropolitan Klovat«d
OV
OSa
•3
1)34
3
4
'4
6!>"8
I
6-\
i>\
3«8
7014
67 »8
7511
75Si
38 "»
•211-1
74 's 74
39 Vj
23
38>«
95»4
14
•34
125
'e
9'4
3'«
67
74
•4Hi
•20
•20
30
24
21
lauuiaiiia' 12tlHil29l3 128=4 129
llUnulH Centnil
Do
leased line 4 p.
Lonit Island
Loalaville.« NasliTllle.
SV
5
SI. Paal.
7%
62
4
7
61
i-'i
3Hi
67 Hi
71Hi
39Hi
38 >4 30
P5Hl
95% 95%
•74
3S'4
05%
14
....
....
05V
34"
"aiK
34
34
125
Mil. L. short' .t Weat'rn, pref.
UlnneAiiulis i!^ dt. Lonls
Do
pref..
14
30-8
14>«
30',
14"4
3OS4
14',
31
14 Hi
3034
14
Hi
20»i,
211-1
20 "4 21
20%
94 >4
94% 96
•7
8',
9
8H1
8H1
123 Hi 125 Hi 126
-40
40
40
95%
97
95% 07 Hi 95
.
New York Ontario A \Ve)itern.
New York Susq. A Western ...
pref.
Do
Norfolk A We.stem, pref
Northern Paclllc
Do
98\
41
4ia<
2^1
8
97
12a8
2^
3
3>4
3
6'i
6>8
6<3
6'4
1334
*90Hi
12 's
8»8
la's
8a4
10\
17
Hi
's
41>s
74
40
24
la's
20'a
45 's
3>4
6H1
93
33>a
2m
05%
96',
3
3H>
6H1
7
•90
92 Hi
13%
14'a
20%
20'e
9%
2%
3
•8%
9%
•2 Ha
6'8
9%
2%
6'(
7
20
20%
41 Hi 45 's
H;
Ha
17 'i
17%
17',
Hi
17% 18%
•%
%
17% 18%
Ohio Sontliem
Oregon Short Line
8Ha
.
Do
Wayne A
Chlo.
16>4
U's 12^
•1334
PhiIa<leliilii:i,V Hf.iilini;
PlttsbniK It.
lS"i)
1,535
1,G(!0
3,062
2,025
9,203
9.576
1,320
14.4
12Ha
14 '4
133
.
13
14',
13%
14% 14%
12Hi
RochesterA I'lttsbursf
Rome Watortown A Ogdonsb'g
St. Lonls Alton A Terre Hante
fit. Lonls A aaa Francisco
Do
prof..
Do
1st pref.
St.
Paul* Dnluth
pref
Do
St.
Panl Minneap.
A
..
Manitoba.
Sottth Carolina
Texas
Pacific
A
pref.
OolonMioConl
22
20
20
33^1 34
86
86
22
22
22
80
80
198 »8
100^
8
8
13»4
14 \
4i«
8i'4
•62
Delaware A Hudson Canal
Oregon Improvement Co
Oregon Kail way A Nav. Co
CarCo
QalcksilTer Mining Co
pref
Western Union Telegraph
E.XPKESii.
.states
A Co
INACTIVK
80
23',
7013
40'3
23 'i
19Hi 19H:
33% 33%
62
1
ll's
62 Hi
1
llHi
79% SO Hi
50'3
23
2%
•20
23
3%
....
20
32%
85% 85%
32 Hi
•61% 63
1
11
80%
24% 24%
48'8
120
•3
•20
67%
94%
52Hi
49%
121
5
24
65% 66%
•93
62%
1U9
Atchison Toneka A Santa Fe..
Chicago A Alton, prof
11%
80
77%
50
120
1
92% 03 '4
l.SS
04
82
!<T<»CKS.
Cincinnati Sandusky
3%
98%
183% 186%
10% 10%
•2% 3
10
3
8
8
18
72
%
21
8
21
i',658
730
20
6,300
117,322
2,995
2,025
62
43,915
200
1,900
275
630
46=4
41.129
2,708
8,325
4334
19%
18% 18%
%
%
200
72
10% 10%
10% 10%
16% 18
13
13 14
17% 19
140=4
140%
1,800
100.380
11,060
20,300
24
24
3
-21
•17
25
33
•83
33
86
2%
66
24
19%
59%
21% 24%
68
58
24%
3
3%
24
24%
3
3
2,320
3,400
1,8^3
•21
25
400
19% 19 '4 •19
33% 33%
85% 85%
33
19%
33
85% 86
68
•% 1
11% 12%
93
93%
79% 80%
•01%. ..
•1% 2%
•61% 63
1
1
11% 12%
93% 93%
Si's 82%
25% 23%
11% 12%
93
93%
80% 83%
24 's 25
76
75%
49% 4934 t4834 51 '4 48% 49%
121% 123% 122% 122% 122 122
'3
•20
65
•3
5
24
67%
•20
6634
700J
2,400
1,220
•138
188
•93
95
95
98
52% 52% •81
52 'b
113
109 114 •no
2,060
18,130
600
138
•93
08
63
115
...
...
63% 52%
66% 66%
67% 67%
prtif.
A
80
SO
SO
303
1,000
12,924
1,144
7,529
6
5%
S%
153,546
Hi
r.ower price
la
ex-dlvidend.
67%
16
6
9Hl
28
17
:
lOU
•7%
:<4'«
119
83% 122%
4
10%
i
7%! 30
83
94
11%I 38%
20
71%
8
17%
176 184
7
18%
1%I 6
4%| 18
4S
17
14
37
i
37% 87%
2
July
1
Julv23:
45
4%
90
11%
Mai-. 19
5
Apr. 271
July 24
8% 24
6% 34%
May
22
2%Mar.
1)
2% Jan.
16
IS
June23
4
19
Mar.
Feb. 26' 24
77%Fob.
7|
1
July20
Jnly2t
Apr. 8l 14'8Julv23
Mar.21| 55% July 18
'"
Apr. 30,
5 % Jan.
7
May 7 14 Jan. 12
'
2%
32
12
I'l
8
61
33
18%
24
60
11% 29
24% 60
96%
70
15
32%
90
65
76% 99
11
9
14
18
5% 23%
84%
28
4
9
19%
33
10
51
Mar. 2S
Jan. 27
25
63
Jnne 6
July 32
61%
1
Juno29
4
127%
8
Jan.
Jan. 8
Fob. 34
3
13%
Mar. 21 99% May 38
66% Jan. 22 86% Apr. 15
17%
80
Jan. 3 31
Jan. 29, 77%
Mar. 21 62%
Jan. 2 123%
3% July 11 4%
32=4 July 10 30
63% Jan. 2 68=4
Feb. 30
July 20
M.lf. 9
July 22
Mar. 30
Jan. 30
July 23
Jan.
Jan.
30
31
22=4 Feb. 27;
Feb. 17
6
July
.30
Jan. lOi 18
Jan. 19 118
Feb. 13 46
5% July
7%
6%
Feb.
Jan.
Apr.
20
Feb.
25
4%Miy
17
8% 68%
87%
31
90
3%
20
49
15
8
7
117
8%
Si
78%
187
103
61%
lis
80%
isa
23% 3«
8 63
Mar. 19 142
May
26
Jan. 22 145
11*
60=4 113
97% May
21
22% Mar.
19
10
67
July 10 125
4
87
46
7
Jtme26 98
78
152
800
8
10
Feb. 27
66%JnIv
258
25
83%July23
79=4 Jan. 2,104
"
9
Jniiol6i
2
61
Feb. 20
2«
May 1 23 Feb.
17% May 8 21 Feb.
30 Apr. 30 39=4 Jan.
79 May 12 87% Jan.
Apr.
00
17
44%Jan. 19 59% July24
18% May 29 26% Mar. 11
55
2 115
16
t
l%Jan.
2 141
""eo
24Hi
These are the prices bid and aaked; no aale was made at the Board.
9«
30
19% July 23! 14% 35%
130 Jan.
325 87% Jan.
630 48 Jan.
10 104% Jan.
300
24
3
4
72
7%June24 12
14'8Mar. 211 21
10=4 Apr. 8| 18
71
116
40
6%
9% Feb. 17
92% July 18
435 21
1.846 59%
86.933 46%
8,631 107 %
ConsolidaTlon Coal
*
%Jnno
10% May
6%
•lao
14% 14%
9-*% Jiilv,24
5% Jan. 8
14=4 Jan. 6
Juue29 30 Jan. 8
Jan. 17' 22% Anr. 30
Jan. 2 190 May 2
6=4 Apr. 14 12%Jan. 6
1=4 Juno 2
Feb. 28
3
4'8 Jan. 27
8 Feb. 20
14 July 3 25% Feb. 28
13 Jan. 171 21%July24
36% Jan. 29 46=4July23i
15
..
1,
5
84% Jan. 2'
9%MaT29|
122
•120
37 Hi
I
M.ar.23!
2% Feb.
80
..
Canton Co
Cameron Coal
New Central Coal
Ontario silver Mining
l%Mav
4
147
20
Mls-sonH River...
New York Elevated
Virginia Midland
Warren
.„,
Homestake MlniugCo
Maryland Coal
81% June
408
A Clere..
I'o
11
57'i
13
16
I
9%
5
66% 63
HO
68%
a'lOl', July24
«l'3l24
2 131 Feb. 211117 ,149>a
105 Jan. 2 110 J Illy 20 100 •41136%
6%.\Iar.3l 10%Jiily3l,
13%
6
14 July II 24% July 23
16% 38
18% Apr. 21 29 Feb. 23' 21%l 38%
66 Juno 8 01% Feb. 251, 80%1100
23 Apr. 30l 38% J Illy 23' 2S
69%
134 Jan. 31141
.May 6 123', 141
14%Jan. 9 20 Jan. 27 33
33
Mli%
133%
82% Jan. 22 109% Mar. 9
4%Jiiiic23 10 Jan. 15
0% 25%
83
65 Jan. 8 65 Feb. 12, 52
2=4 Jan. 15
8%
4% Mar. 10, 3"
4%Junell
8 Mar. 8
4% 14%
37% Jan. 10 52 Mar. 20 30
SI
3 Jan. Gl
6=4 July 23
3% 8%
190 Juue3(l,200 Mar. 24 185 300
20
14 Mar. 26 30 Jan. 14
61
110%Jan. 17 132 Jnly23 110 140
"" July 11
70
86
84 Jan. 10 00
9
30%
7% June 5 14% Feb. 24
l%Julv 8 17 Feb. 21
6%l 19%
5034 May 12 71
Julv2S 59%il04%
78%
62 Jan. 2 77% .May 20: 62
33 Jan. 10 4l%July24
22% 61%
86
ll%Jan. 6 27 % Feb. 20; 10
63 Jan. 13 97=4 JunclOl 64% 79
34
ll%Jan. 3 18%.May 19' 10
4«
27% Jan. IS 44 Mar. 7 23
90 Jan. 2 125% June 2I 85 105
46% May 7 65% July 23: 51=, 94%
44=4
29 June 1 34=4 Feb. 261 31
10% Jan. 20 15% July 24! 7%! 18%
86%
24% May 29 33 July 23; 17
9%' 33
14% Jan. 22 21% Julv23l
89% Mar. 21 98%Julvl8 63% 100%
014 Feb. 23
6
June 5
6% 13
120 July 14 115 1127%
114=4 Jan
58
33 Jan. 71 44 Jnly23 30
31,045
377.103
2,170
24
68%
rjl
84%Jau.
lIO%Jan.
21
63
13>aMar.
31
IS
17%
7% June 9 15% Feb. 27l 7
13
May 29 21 Julv23 16%; 60%
20 119% Feb. 17 135% June 4' 119% 136
120 Mar. 9 129%Apr. 20i
170 136% Jan. 29:143% May 21 138 146%
Keokuk A Des Moines
Lonlslnna
23
18
12
14U 175
1,815
1,800
16,447
46%
%
1,305
109,938
100
1,920
100
2,100
18%
20% 21%
82
80
80
83%
80
80
102 103
102% 103% 101 103
102% 101
99% 104
9
9
8% 8%
13% 14% 13% "iiu 13% 14% 13% 14% 11% 14%
51 't
49% 51% 49% 50% 49 's 52% 50
elHl 55
4% 4%
6
6
4% 4%
4
4
4% 4%
8% 9% 10% 10%
8
8% •8%....
76-4
138 143
04 14 94 '4
61
53
110 110
American
Wells. Fargo
80
3>8
85 Hi 86
77
49
llOVillOHi 120
•3
4
•18
24
63
65
67
PaclfloMail
Paliice
1
11
11"9
93 >a 03^1
Consolidated Has Co
Do
6313
1
A Iron
19%
45
Fel.. IH
33%
1
67
23 Ha
MISCKMiANKOUS.
American Dist.Tel
American Tel. A Cable Co
Bankera'A Merchants' Tel
07
140% 140'
53 Hi
23
3
4
Pacific
9',
133
B3
66
23 "3 2411
3
3
63 '4 65 Si
T-'nlon Pacific
Wabash Ht. Louis A
Do
•7
iiosf
1,880
236,388
2,950
85,580
39,706
9
"17% 18%
110
2,262
9;233
•123% 126
43% 41
3%
6%
200
10,410
3.640
1.010
1,241
15%
32%
20% 21%
03% 96%
13
32
16% 17%
13% 13%
18% 21
special.
Rensselaer A Saratoga
Rich. A AUeg.. stock trust ctfs.
Illchmond A DjinvlIIo
Rlchin'il A West i>'nt Terminal
34
211,776
8,400
64% 63%
10%
9
16% 17%
24
16% 17%
13% 14
13% 18%
8H1
16% 17%
74
41%
63,
6% S"'
•90
93
14
14% 13% 14%
26% 26% 26% 261,
20% 20%
9%
18
20% 20 Ha "20% '20%
44% 45% 45% 43 'a'
Hi
96%
3%
6%
•2%
7%l
18
>•.
34
125
65 H
41
98
llHl
6
93% 05%
35
0%
42
13%
13
•.S3 Hi
9
8',
126
42
pref
Orejfon it Trans-Contlnental.
Peoria I)ei';ttn]- A- I';v;insvilie..
Pnllman
33Hi
20
20% 20% 20%
184 >4 184 '4 186 186
3
18
30%
20 >4 21i'8
06
98
92 '4 92 "a
44=8
pref
OhloCentral
Ohio A Mis.slsslppl
Do
97 "a
8
»5»8
38%
14% 15
30% 33
20% 21%
94% 96%
Hi
.
11
3
6H1
26
130
68% 70 Hi
4Hl
11% 14'i
30% 31
62
pref.
Do
New York Lack. <fe Western ...
New Y'ork Lake Erie & West'n
Do
pref.
New York A Xew Kn^Ian*!
Now York Now Haven A Hart..
12
64
61 14
51
71
'125
62 Hi
714
11
4Hl
68H1
....
6134
4%
y
8H1
69
75
ei% 04
'125
50 13 60»4
"a
26
130
30
129% 132
93 Hi 95 Hi '05ii"93Hi
33Hi
18%
82
5Hl
".J
MlchlK^n TtMitial
Missouri Kansas A Texas
Missouri Paelflo
Mobile <t Ohio
Morris t& Kssox
Nasbv.chattanoojra it St. Lonls
Now York Central A Hudson
New York Cliic. & .St. Louis
5%
Hi
•25
28
9% 10%
ti'^
69 U
5
SHi
9
7
87
126.3.'')l|
293
99 Hi 103>4
LOA'. Hl«li
HlKtiaak
Mar.2.', 40
Jiilv23
26 Hi Jan. 31 36 Feb'. 23i
8 Apr. 7
6% Feb. 10
7 Apr. 7 12% Feb. 261
410
4% Apr. 22 8 Jan. 1.'.
128 Jan. 2l3!lHiJui"
7.450 llSHiJan. 2ll'21)%Jn
401.435, 61% June s; 83% Jul.
2,010102 Jan. 28 113 Jiiiv
-
Qreoii Hay
Harltnii
United
132
119
10 Hi
24
27 Hi
38 Hi 38 Hi
I
Adams
90 Hi
132
119
10
24
26
For Fan
1888.
Feb.
88
330
660
13
128 138S, 127 ',127 '8 •12s 138HJ 128Hi 128'4
77«8 SOi,
78 >e «0»4 77', 80>4l 71) '4 Hi's 80 »B 83
COiloaso Mtlwaukeo it St. Haul
110 llOU 109 Hi lOO^' 10il»4 llOHi llOHi 113
prof. 1011 ^ 111)
Do
Ileitis
0'.'\\
07 \ UliHi
07 Hi 0'.l\\ UW-% HO",' OO-M 10I»g
Ohloago & North westorn
l.Sl
129»< 12.1 'i l:to
l:imi lAWi l;ti
litoHi' 131I3132H1
pref
Do
11814 II8H1 llHHl U8H1 1IS»4 ll.Si,
Ohloaso Rock Island A Pacitlc 118»4 llsaj 110 110
9'-3
HI4
8-3
6 Hi
O'u
HU
7Hl
8H1
OhlsagoSt. l^ouiaJ^ Plttabure
21»4 2I>3
10
19 <3 20
16
I8H1 I9I4
prei
Do
25 '8 2S
ail* ajsi
34 Hi 25 >4 •25
24 <a 3 1 Si
2tHl
01ilo««roSt. Paul Minn. A Uin.
HI
81
84
82
83 Hi 85=4
81 Vi 82
88
pref.
Do
81 H)
37 Hi 37'*
87
37 >
87
37
OleTclnml Ool.Cln. * Indlanap.
^ 87 Hi 38 Hi
141 Ul
C'lev(»Ini'il vt HirT!«lnirir. pnar.
^\ pref.
ColHi
98-^ 99 'f
98', 103
OS's 99 Hi
Do);i
I. « West.
08»8l00'4
BO'S. 101
6'3
8^1
8>4
8»<
6 Hi
Vcu
6
av 6 '4 6»B •6
60
60
..y....
Dal;.:-,
3>«
ails
8'
8',
3's
S'V)
SH)
4H
East Iculiesscu Vit. .t: Ua
6 '8
5^4
5',
5',
7
6
B'a
prof.
B"b
6
Do
49 Ha 51
48
48
SO
50
Erannville .t Terre Haute
IliirlliiKton
130
138
44") 44^4
85
3»>4
•6
a
a
06
06
"ti'i
63
4i\
89V
Cb(»H>t>raka <t Olllo
•82 ...
4Bii 4S>a
32>(i 34
-1)
10
as
43><|
3'J<a
luneautA
...o
Chicago
OhlenKO
oa
ior»ey
:
Cei'
Oeiii
Ceui^
bo<4
44>-j
1,
1895.
1,
9 ISIHiMay 1 136
Mar. 35 0I>4 Jnly32 80 Hi
Fob. 4 6) Feb. 4
60
Apr. 21 46 July 18
30
.Vfny 7
30 Jiilv2:l
34%
July 23 11
Fell. 12
8
liM
,
Mr-I.liio.pret.
s
.
JAN.
Range ninoa Jaa.
8al6«o(
the
8T0CK8.
AND HINCE
Jnly23
Mar. 17
5
May 12, 115
Mar. 8 15
Apr. 25 121
Apr. 15
July 23
Feb. 27
July 14
Mar. 25
Feb. 25
Mar 38
S
19% 24
180
31
193%
39% 40
3
18
8
7
6
14
6
38%
II
18
10
39
—
—
w
1
9
. ..
.
THE CHEONICLR
'ifsi:
OF STATE ANB RAILROAD BONUS.
ODOTATIONS
^
STATE BOWPS.
BECURITIKS.
8ECUKITIE8.
103
i.
......
leoo
Arkinsas— «8. funded
7 J. I. Kock 4. Ft. S.liw.
6a, 10-208,
.
Hannihal * .St. Jo., '86.
New York— 68, rog., 1887
1.-}
,
15
68, loan,
68, loan,
6s, loan,
SV
lOS
102
Ill
a8orgi(t-6s,1886
7a. 1886
7b, gold, 1890
1891
1892
1893
N. Carolina—68. oM. J.&J.
Fnndtnit act, 1900
I.
.
n
Bid.
Special tax.
SECURITIES.
Aak.
18
4
all classes..
68,
new
—Continned
series,
47
1914
54"b
C'mp'nilBe,S.4.5-88,1912
VirRiuia 6s. old
—
Do
Wil.C.&Ru.R. "87'
Consol. 48, 1910
111
6s, 1919
103
Ohio— 88, 1886
South Carolina—
6s, Act Mar. 23, 1889 )
3-^
I
XLI.
«1. 1885.
Tennessee
Now bonds. J.AJ., '92.8
.
Funillng. 1894-95 ......
16
12 V.
7», Memp.*L.Rock RR
7».L.R.P.B.&S.0.RK
7b, Mlag. O. & R. R. RR.
7a, Arkansaa Cent. RR.
.
Missouri— 6h, 188ti
6», <lue 1880 or 1390....
Asyl'm or Univ., due '92
87»4'.
JULY
N. Carolina—Continaed—
77
64
lomii.
108 1.
113 |.
118
102
104
112
115
117
30
10
I!
fVoi.
SECURITIES.
Aak.!
Bid.
Lonliiann— "9, ions.,!*!*
Ki^iualureil oomjon
91 "a.
bsraa-ClMS A, 1908.
Olau a, is, 1906
ClMH C, 48, 1906
68, new, 1866
68, consol. bonds
63, ex-matured coupon.
63, consol., 2d series
-..
68, deferred
District of ColumbiJ^—
3»i
non-fuudable, 1888. i
Brown con.soru 6s, 1893 107
ITenneaseo— 6ft, old, 1892.8 47
47
8b, new, 1892-8.1900
3-65S,
1
55
41)
......
40
MO
47
50
.. ..
6
63*
116i»
1924
Registered
iio"
Funding 58, 1899
I
RA1I.ROAD BONDS.
SECURITIES.
Del. L.
<fc
Morris
W.—Coutiu'd—
& Essex- Ist, 7s.
Bonds,
7s.
1900
Ist, consol., BU.ir., 73..
Ist, 08
Jf.Y. Lack.*
Coustructiou, 58, 1923
,119
I'iu
125 'a
125
•102
Del.A ilud. Canal-lst,7s 113
1st, ext., Ts, 1891
•118
Coupon, 7s, 1894
Registered, 7s. 1894
71 '<
Atl. & I'lic.- l8t. 6s, 1910.
Balt.cfcO.— l»t, 63,l'rk.Br.
Bar.C. Ran. <t No.— Isl. 5»
Cousol., 1st, 58, 1934 ...
121
lOS
97 V 98
Miun.ASt.L.-l8t,7s.gn.]
la. City & West.— l»t, 7s;
C. Rap. 1.F.& N.— 1st, 68
iBt, 53, 1921
Bnfl.N. Y. * 1>.— Cons., 63
General, 68, 1924
Can. So.— lfit,lnt.guar. 53
2d, 5.S. 1913
Reg.,5», 1U13
Central Iowa— Ist. 78,'99
Eaet. Uiv.— Ist, 68, 1912
III. l)iv.— 1st. 68, 1913.
2il,7s,1898
2d. guar., 7s,
—
96
1st, 63,
June—
Pittsb.McK. ifc Y.— 1 St, lis
Rome W.it Og.— lst,7s.'91 llOV
75
Con., Ist.ext., ns. 1922.1
Boch.Ji Pitt.— 1st, lis, 1921 110
90
Cousol., 1st, lis, 19'22)...
1
09 -a
76
75
!
541a
Oa, 1927
Atl.itCh.— 1st, l)r.,7s,'97 '111
Debenture
1
94
fi4la.
Rich.it Allcg.-l8t.7s,19'20[
rru^t Cii. receipts
Rich.it I).anv.— Con9..g.,08'
;
99'-
114
105 "al 106 >s
iVi'
189S
Pitts. Cleve.it Tol.— Ist.Osi'
Ist. 6s. 1922
Pitts.
1884.1913
-- Mil.L.S.ctW.— lat,6.s,1921
Mich. Div.— l8t, 6a, 1924 *.
,13tl
Minn.itSt.L.- lst,7s,19-27i 1
Ist, Pa. Div.,op.,7B.1917
Iowa Ext.-l8t, 78, 19091 ...
1st, Pa. Div., reg., 1917.
1*190
iooi-jiid^ii
2d, 78, 1891
Alb. * Susn.- Ist, 78
102^4
S'thw.Est-lst,7a.l910 112 112)2
2d, 7s, 1885
130
Pac. Ext,— 1st, 6.S, 1921.1 lO-?
1 St, cons.,gnar.78,l 906
7734 781a
IIB'4 Mo.K.&T.— «en'l,6s,1920
Ist, cons., gu. ,6s, 1906
64^8
General, 5a. 1920
Hens. * .Sar.— Ist, cp.,73 •140
H3iall3i2
'140
Cons., 7s, 1904.5.6
l8t,reg., 78, 1921
Cons., 2d, income. 1911
Denv.it RioOr.— lat, 1000 10934 llO^a
61 >a 62"4
H.« Cent. Mo.-l.st, '90 108
Ist, consol., 78,1910....
Mobile ifc Ohio— New 6s.. 107
Den.So.Pk.&Pao.— l8t,78.
Collator'l trust, 6s, 1S92
Den.&RioO.West.— lst,68 4741'
l.st, Extension. 69, 1927
Det.Mack.*Marq.— l8t,68
Morgan's La.it T.— l8t, 08
I.,and grant, S'-js. s. A...
107
1st, -8, 1918
E.T.Va.&O.— lst.7s, 1900 110
51', 5214 ,Na.sh.Chat.ct St.L.— l8t,73 1201a
1st. cons., 53, 1930
-11
140
Ft.W.itC.- lst,7s|
Pltts.Ft.W.ttC— 2d,7sl 136
132
Clev.ifc Pitts.— Cons.s.fd.l* 122
4th, s. fd.. 6s, 1892....' 108
St.L.V.itT.H.— lst,g.,7s 117
3d. 7s. 1912
Registered, 5a, 1931
lUSHi
Jack.Lan.it Sag.— 6.s.'91
.-hMllw.it No.— lat. 6s, 1910
W.—
AtCh.T. AS.Fe-4 iii8, 1920,
Sinking Fund, 6s, 1911.
Pitts.
Mioh.Cent.— Cona.78,1902
Consol., 53, 1902
68, 1909
,
Coupon, 59. 1931
117
7s of 1871, 1901
Exchange PrUfs.)
1st M.,
llO'-i
111
124
124
Penn.RR.— Continued-
78, 1911.
78, ex-cp.,6,7,.t 8
Mex. Cent.- Ist,
^, ,„,
2d, 73, 1891
Aak.
SECURITIES.
Ask.
SECURITIES.
Ask.
Bid.
SECURITIES.
Bid.
Bailroad Bonds.
(Stocic
—
—
..
Incomes. 1900
Scioto Vnl.— 1st, cons.,
St. L. &. Iron Mt.— Ist,
2d, 79. 1897
35
79.
7s.
|103i«
71
41
iir>
100
Arkansas Br'ch- lat, 7s 110
108
Cairo & Fulton- Ist, 7s. 107
Cairo .4ik it T.— Ist, 7s. 106
Gen. r'v iicl.gr.. 5s, 1931: 113'
tt Ohio
Par. money fund. 1898. 109
lt)2
68, gohl, aeries A, 1908
65 "a 66
68, gold, scries B, 19031
2d, 6s, I'JOl
T-;;scou])on8 9 to I'J
63, currency, 1918
.1.,
i'06 L...
St.L.Altfinit 'I'. H.— l8t,7s|
N. y Central— 63, 1887.
Divisional 5s, 1930
Mortgage 6s, 1911
107 I....
2d, pref., 7s, 1894
l)eb. certs., ext'd 5s
71'8; 73
Eliz.C.A N.— s.f.deb.,c.,63'
Che.s.0..tS.W.— M. 5-03..
10»
50
2d, income, 78, 1894 ..-.i
N.Y.C.at H.— 1st, cp., 7s I34I4 135
1st, 08,1920
Chicago tt Alton—
131 |13S
Bellev.it So. 111.— 1 st, 88:' 114
89
86
1903
Ist,
reg.,
6s
BigSandy—
7s,
1893
-.HEliz.Lex.&
l8t niort.,
IIII4!
IO6I4'
105
1-24
4
Man.—
l8t,7s
St.P.Minn.it
53.
1904
Deb.,
Erie— 1st, extended, 73...
Sinking fund, 6s, 1903., •l',!2
llHallS
137)2 139
2d. Os, 1909
Harlem— 1st, 7a, coup
-2d, extended, 59, 1919 .. 109
la. &Mo. Riv.— 1st, 7s.i
-I
108
Dakota Ext.-69. 1910.. 114 1141a
l8t, 7a, reg., 1900
,„,,la ,„„,la'
rjlg
3d, extended. 4 Sis, 1923. 107
2d, 7s, 1900
111
121
122
6fl.
1933.
...I
111)
consol.,
1906
1st,
N.Y.Elev'd-lst,
7s,
Bt.I..Jack.&Chic.-l8t llO'i'.....
4th, extended, us, 1920.
107
lat, consol., 0s.reg..l933t
N.Y.P.itO.— Pr. I'n. 6s,'95
6th, 73, 1888
Ist, guar. (564), 7a, '94: 119'4
Miu's Un.— Isl. Os, 1922, 110
N.Y.C.*N.—Gcu.. 6.9,1910 3934I 40
...1st, cons., gold. 78, 19'20. 119>4'i20
2d, (300), 7s, 1.898
3934 40
St.P.* Dul.— 1st, OS, 1931
Trust Co. receinta
Ist. cons.. Id. coup., 7s
2d. guar. (188), 7s. '98
So. Car. Rv.— Ist. 68, 1920
N.Y. & N. Engl'd— 1st, 7s
Reorg., Ist lion, Bs, 1908
Miss. K.Ur'go-1.11,3.1. 6s
2d, 6s. Id31
''1141a Hi
1905
'93
1st,
6s,
7s,
Dockb'nds.
Long
Chic.Hurl.it Quincy—
,
,
83)a 8i
SUenand'hV.- lst.73,1909
134
Butt.N.Y.&E.-lst,1916*l'-'9 j....- N.Y.C.iS;St,L.-lst,63,1921
Consol. 7s, 1903
General, 6s. 1921
2d, 6s, 1923
N.Y.L.E.*\V.-New2d63! *o8>a 59
68, sinking fuuti, 1901.. •---, , _
Sodus H.it So.-l St. 5s, old 100
N.Y.W.Sh.it Bnir.— Cp.,58
Collat'l trust. Os, 1!122,
Us, deUeutures, 1913... . 104>4 10a
60
70
>3H)a
Tex.Cen.— lst,s.f.,7s,1909
Registered, 5s, 1931
Buff.aSS.W.— M„6s,1908
la. Div.— S. fit., 58, 1919
60
70
1st, 73.1911
9Sh Ev. & T. H.— lat, coiia., lis 1071a'
N.Y. Susq.it W.— Ist, 6s.t 67
Siukiiigfuud. 43, 1919 *
961,
95
Tol.Del.ift Burl.— Main, Os
Debenture, 6s, 1897 f
Mt.Vcrn'n-lat.Os. 1923
Denver Div.—48, 1922..
89 14 01
Ist, Davt. Div., 69, 1910
Midland of N. J— Ist, 63
Fl't*P.Marri.-M.0s.l9-.;O,
Plaiuls. 1921
i.i
N.Y.N.H.itlI.-lst.,rg.,4s
1st, Tcr. trust, 6s, 1910.
C.R.i.Ar.-0s,cp., 1917. ^131 132iii: Gal. liar.* s..\ut.— Ist.Os 106"8
1*100
N.Pac— C^.l. gr.,l8t, CI)., 6s 103 1031a Tex.& N. O.— 1st, 7s, 1905 115
•2d, 7s, 1905
68, reg.,1917
102'
90
109 'e
Sabine Div...l8t,6s.l912
Registered, 6s, 1921
Ext. & Col., 5s, 1934.... 109'8ll0
West. Div.— 1st, 58
*56
50
Va. Mid.— M. inc., 6s,1927 *48
•-.:•• N.O.Pae.— lst,6.3,g.,1920t
Keok. A Des M.— lat.Ss 108 Si
2d, Os, 1931
-^x11434' ar'uBavW.&St.P.- l8t.68
lO
00
.4
Wab.St.L.ifePac— Gen., 6s *'28 la 32
Norf.&W.— Gen., 6s. 1031 88
Central of N.J.— 1st. '90 1.
70
72
105
Chic. Div.— 6.S, 1010
Ist.cous.assent. 7s,1890t 103
Gulf(i;i.,tS.Fe-7s,1909; 107'-2j
New River— l.st,68.1932, 11" »
104
nav. Div —6a, 1910
Con v., assented, 7s. 1902
OhioJS Miss.- Consol. s. fd!
2d, (is, 19-23.
,..,118 la
72)a
Tol.P.itW.— lst.78.1917
Aiyustnient, 7s, 1<I03... 1081a'
Consolidated, 7s. 1898. 118 illbia'
JIail.it St.J.-Con.08,1911
65
62
64 la Houston it Texas Cent.Iowa Div.— 63, 1921
Conv. debent. 6s, 190,8..
2d consolidated, 73,1911*109
""
95
97
Indpolia Div.— Os, 1921,
I/eh.vtVV.H.- Con.g'd.aa.
Ist, M.L.,78, 1891 1 ....
Ist, Spiiuglield Div.. 7a
Am.I)'k*Imn.— 58, 1921 811a: 83
841a' 86
771a
Detroit Div.— 6s, 1921 ..
1st, general, .'is, 1932.
1st, Western Div., 78t..
84
Ohic. Mil. & St. P.—
Cairo Div.— 5a, 1931
Ohio Central— lst,6a.l920
1st, Waco iS. No., '781....
63
135
let, 8.S, p. D
Wabash— Mort. 7a, 1909
2d, consol., main line. 8s
1st, Teriu'l Tr., Os. 19'20.
I'25'ail27
Tol.A W.— lat, ext.,7a. iod'-i iofii
2d, 7 3.108, P. D., 1898
Ist, Miu'l Div., (is. 1921
2d, Waco* No., 88,1915
•92
1-29
95
Iflt, 78, $ g., R. I)., 1902.1
Ist, St. L. Div.. 7s,'8'J.
General, 68. 1921
Ohio So.— Ist, Os, 1921...
88
117 1181a Houat.K.itW.Tex.-.lst,73
Ist, LaC.lJlv., 78, 1893
2d.ext,, 7a. 1893
Oreg'n* Cal.— lst,69.1021
118
Ist, I. & M., 7b, 1897
Or.&Tranac'l-0s,'82.19'22
Eiiuipm't lids, 7a, '83.1
2d, 6s, 1913
75
Ist, I. AD., 7s, 1899... IIB
Ill.Cen.-Spd.Div.— Cp. 6s 115
Consol. conv., 73. 1907
'Oregon Imp. Co.— 1st, 6s.
112l«
128 128
Ist, C. & M., 7«, 1903..
Gt.West'n- 1st, 7s, '88 IO6I4 loeia
Middle Div.— Reg., Ss .. 108
lOreg'u RR.&Nav.— Ist.Os
86
Consol. 7b. 1905
1251a 120
C.St.L.itN.O.— Ten.l..7s 125 126 II Debentures, 78. 1887...
2d, 78, 1893
125 ]127 |:Pftnania— S.f.,Bub.Gs,1910 -99 w, 101
l8t,78, 1.&D. Ext.,1908 121)al23
Q.it Tol.— iBt, 7s. 1890
Ist, consol., 7s, 1897.
118
86
Ist, S. \V. Div,, G8, 1909.
2d, 68, 1907
l|PeoriaDec. itEv.— 1st, 6s
Han.& Naples— Ist, 78,
99 la
111
l8t,53, LaC.it I)av.,]919
Gold, 5s, 1951
lst,68.1920
111. it So.Ia.— lB(,ex.,l)8
Evans.Dlv.—
Ii
03
97
lst,S.Mlun.Div.,Cs,1910 114
114)a
Dub.it S.C.— 2d Ulv., 78.
St.L.K.C.it N .— R.e.,7s
Peoria* Pek. U'n— Ist.Oa 1031a
I2OI4 12034
115
75
1st. H.,t D.,7», 1910-.
Ced.F. it Minn.— Ist, 78.
Omaha Di*".- Ist, 7s. 74
Pac.KR.— Con. Pac— G.68 11134)
90
ChictPac. Div.Os, 1910 115
Clar'ilaBr.- 6s, 1919
Ind.BI.it W.- l3t, pref., 7s 110
San Joaiiuin lir.— 63.. 10.^1-jI
99'
99
85
l8t,l-h)C..t I".W..6s,l'J21
05
67
St.Chas.Bge.— l3t,6s
1st, 5-68, 1909
Cal. it Oregon— lat, 63 *98
100
Miu'l in. Div., 6s, 1910.
50
55
2d, oOs, 1909
No. Missouri— Ist, ts.. 109 112
Cal. it Or.— Ser. B., 6s. •9734. 98 S,
•00
C.& L.Sup. Div. 53.1921 97 100
Eastern Div., 6s, 1921
West.Un.Tel.— 1900, coup 115's
Land grant bonds, Os. 103H!'104
Wis.A Min. l)iv.58, 1921 98
99
117)«
87 >e
Indianap.D.ifeSpr.— lst.78
1900. leg
West. Pac— Bonds, 6s.. 108341
.-' N.W.Telegraph- 7a. 1904
Terminal .'18, 1914
841a 95
1st, 7a, ex fund, coups, -'<1
No.R'way (Cal.)— 1st. 6s
C.))C. it Noithwest.98% 98)a;|Mut.Un.Tel..-S.fd,63,1911 74
75
Int.iS. Gt.No.— lat.Gs, gold 112
So. Pac. of Cal.— Ist, 6s
'3
Slnking Fund, "s, 1885. 1033fl'...- 1| Coupon, 6s, 1909
9814'
98
76
So. Pac. of .Vi-lz.- 1st. 68
Consol. bonds. 78, 1915., 139
139 'si Kenfky Cent.— M.(>s,1911
lst,6s *923i
BONDS.
So.Pac.ofN.Mex.—
INCOME
68'
£xtensiou bonds, 78, '85, 103%
Stamned, 4 p. c, 1911
{Jnterent paytiltJf if ftrtwd-f
Union I'aciitc— lat. 68.. II4341
10333!
lat, 7s, 1885
10>»
Lake Snore & Mich. So.Atl.it Pac— Inc., 1910....
Laud criinta. 7a, '87-89 10634!
Coupon, gold, 78, 1902.. 12934 ISO's' Cleve.&Tol.— N. bds.,'i 104 105
121
Central of N.J.-1908 ....
Sinkinetuiid, 8s, '93
:l31i4'
BegiBt'd. gold, 7.S. 1902. *
12
Cleve. P. it Ash.- 78..
131s 13%
E.T.V.itGa— Inc,0s.l931
Reg., ,Sa, 1893
Sinking fund, Cs, 1929.. 113 Ult
i'i'ii-im'
16
15
BulT.it F,rie—Newbds,7
IGr.BavW.it St. P.— 2d,lnc.
Collateral Trust, 6a.
Sink, fund, 68,19'2!),reg. 'llS
16
KaL & W. Pigeon- 1st
Ind.Bl.ifcW.— Con., )nc.,63,
Do
58. 1907
Bluklngfund. .'is, 1929
18)«
106V
DetM.it T.—lat,7s,1906
Ind'sOec.ASpr'p— 2d,ino.
Kans.Pac— 1st, 63, '95 112)3
Slnl;. tund. 5s, 19'29, reg lOOV
1091.2
Lake Shore— Div.bonda, 122
Lcli. * Wilkesb.Coal.— '88 '70
1st, Oa, 1896
*103
6lnk'gfd.di)b..58. 1933.
15
17
Conaol., coup., 1st, 7s. 1-27 14 128
Lake E.it W.—Inc, 7s.'09
Denv. I)iv.6s,a8s..'99 110
•9
26 yeiirs deb. 6a, 1909..!
'lOS
9S"„ 99
Consol., reg., Ist, 7s .. -12714 128
Sand'ky liiv.— Inc. .1920
1st, consol., 6s, 1919,
Escaimliavt L. s.— Ist.Os 108
Consol., coup,, 2d, 7s.. 117
Laf.BI.it Mun...Inc..73.'y9 •15
C. Br.U.P.— F.c..73,'9." 103 la
BeR.M..t.Min'ap.-l.si,7S| 125
11612 118
94
Consol., reg., 2d, 7s
At.C.it P.— 1 at.Gs, 1 905
Mil. L. Sh.it W.— Incomes
Iowa Midland— Ist, 8s.. 130
Ks""
52
Long Isl. RR.— Ist, 73,'98 121
.... Mob.ife O.— 1 at, iirf ..deben.
At.J.Co.&W.— lat, 68 90
Peninsula- l8t,conv.,7B
'22
109
25
Ist, cousol, 58, 1931
931a 9334
Orog. Short-L.— 1st, 6s
d, pref., debentures.
Cbic.& Milw'kee— l8t,7s
Lonisv.it Naahv,—
941a
3d, pref., debentures
Ut. So.— Gen.,7a, 1909
Wln.itst. I'.— lBt,7s,'87 105
123)3
Conaol., 7s
Exten..lBt, 78, 1909 •10034 .
4th, pref., debentures...
120
2d, 7a, 1907....
Cecilian Br'ch— 78, 190'
N.Y. LakeE.it W.—Inc.,Oa!
Mo. Pac— lat, cons., Os.
MtI..tMad.— lst,63,]905 *115
N.O.it Mob.-l8t,6s,lti30 95
S)»
iVs" ;;!"! Ohio Cent.— Income, 1920
953b
S.1, 7s. 1900
Ott,C. F..t8t.P.— i8t,5s :04)a
79
•2d, 69. 1930
82
Min'l Div.- Inc.,73.1921
Pac. of Mn.— Ist, 63..- 1071..; 108
""
"23"
C.C.C.<!tI)ld'8-l8t,7,8.fl 1'22
E.H.itN.— lat. 6a, 1919 110
ll)9-Vi 110
Ohio So.— 2d inc., lis, 1921 '19
2d,78. 1891
CoD8ol.7s, 1014
113
General, Os. 1930
101 la 101 'e
PeoriaD.* Ev.— Tnc..l920 26
St.L.it S F.— '211,69, CI. A •99
Consol. sink, fd, 79,1914,
Pensacola Div.— 63,1920
30
«a
97
Evaiisv.Div.— Inc., 1920
63, Class C, 1906
General ccuisol.. 6a, 19341
St. L. Div.— Ist, 6s, 1921
45
U7'aj
Roih.it I'itt9b.—Inc..l92l
6s. Class B, 1906
CWc. St. P. .^Iln. .t Om.—
igij
2d. 39. 1980
W.
Og.—
Inc., 78.
1st, Oa, Pierce C. A O..
Rome
A
Consol. 6s, 1930
Nashv.it Dec— 1st. '78.. 115 ilioia
30
So. Car. Rv— Inc. .68,1931 •23
Eiuiipment. 7s, 1895..
C.St.P.&M.-latCs.lOlS 1'20
s.iSN.Aia.— s.r.us, 1910] 91 .
40
91
Geu'I mort.. 08,1931..
St.L. A. it T.U.— Div, Ms. '30
Ko. Wis.-lBt, 6b, 1930.
Loui.av. C.it L.-6S.1931
Pac. of .Mo.— 1st, Os 103
So.
St.l'.itS.C._Ist,6B,1919, 121
05U1 Tex.itPac— lat,6a.l905 '108
Trust bonds, 08, 1922...
95
FREE LIST.
Chlc.Ai:.IIl.-lst,».f..cur.
Illl
10-40, 6a, 19'24
81=8
108 110
Cln.it Sp.-lst,C.C.itI
Cousol.. Os. 1905 t ...
Consol, Ist, Cs. 1934...
08^ 99 L.Erie.tW.-lst,fia, 1919' 74
111>!»
3934
39
1st. g.. L.S.OiM.S.. 7a... 108
Income
&
Id. gr.,reg.
ChlcSt. !,.,); I'.-lsl.con.SsI 79
Sandusky Div.— 68, 1 9 1
70
68
60
Col. spr. it ('in.- lat. 78. .1
G., Os, Aug. cp. ou
Bio
CWct W.Ind.-lst,B.f.,68 109
Laf.Rl.it M.-lst, 6s, '.919!
74
03 la Cum. & Penn.— ]8t,68,'91, •102
Do
exAiig. cp.
Oeu'lniort., Ob, 1932 ...|
Loulsv.N..Mb.itC.— lat.Os
•103
90
•2d, lis, 1888
Gen. mort. * Ter. 68.. »42
Col.* tirei>n.-l8t,6B,1910'
General mort.. 63, 1914.
60
Col.C.itlr.Co.- lat,cnn.,Bs •68
Pennsylvania RU.—
2d, Ob, 1028
....
Lou. N. (). it Tex.-lat. .'is
70'»
9138
69
Ist, lis
Pa.Co.'s guar.4 las.l at.cp
100 iFt, W. it neuv.
CoLH.Val. ATol.— lat, 58 "n't 761.J Mauhat.B'chCo.— 7b.19I)9 91
4i.ia,Reg., 1921'
100
Warren
KU.-^2d.
7«, 1000,
Pa.
Co.'8
DeLL.A W.— 78.conv.,'92'
N.Y..tM.B'li-lat.7a.'97
120
Pitt8.C.lt^^t,L.-lst.c.,7s|
Wabash/uiided
int. bds. —
Mortgage, 7b, 1907
'Metrop'lifn El.— lst,1908 lis 11334
....
Tol.it 111. l)iv.-78
Ist, reg.. 7a, 1900
ayT.B lug.itN.Y.— 1b1,7s *131 W
II
2d, (ja, 1899
|l03
....
2d. 7s, 1913
L. ErloWab.it St.L.— 78.'
• No prteea Frldny theae are latest quoutiona
made tUa week.
t Coupona off.
Chesapeake
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'.'.'.'.'..
1
'
,
V
'
!
1
!
j
C—
1
'
July %\
1885
1
THE CHRONICLE.
|
RAILKUAU EABNINUS
New York
eaminKs and the totals from Jan. 1 to
The atutument includes the fibrosa
latest datv are k>^'v>» below.
«aniinf(B of all railroads from which returns can be obtained.
The
railroad
Iittest
:
.
-
111
99
CItjr
Bank*.—The
condition of the AjMociat«d
weok ondinit Julv IH. 1H8.5:
following ttatement shows th«
New York City for the
Banks of
Av»ratt
Ammmt
of—
Banks.
Lalat Horning* B»porled,
Jan.
1 to
Tmitrt.
nam.
LaitMt
t»«a V.
Soadt.
n'rcktiriio
AI*. Ot. Sonth'n. Jiino
M..y
AU-h. 'i'. A ». 1Boat.
T
II
,v
Bur
"
1883.
1884.
9
•
y.'iSi
l',42J
5.'»,'2im
41,684
7.968
Wiiy
Can
(1,8:2
2d wk July
I
soi.oao
19,Sll
.'ilwkjuly
Ce]i
Uli.
-
V;ii,M.r\..v U.S. Miiy
4ll,»21>
O. A- 8. W. .Muv
112,788
165,9 ill
Chlcuito A: .\lton 2il wk July
2,091,9l>4
Chip. Hurl. A o.'Miiv
Clll-s.
A
Ku.st III 2ilwk.luly
Cbli-.
Ohlc. Mll.ASt.P.;.iil wk July
Noriliw
'2il wk July
Clilo.
&
Jil
wk Julv
42.1,000
472.200
107.100
-'(I
wk
July
2->,:S21
Cla.rna.St.I,.A(;.i'.>(l\vkJuly
Cia. N. O. AT. I'. Juim
Cln.Waali.AHiilt. -ItliwkJ'ne
Clev.AkrmutCol Im
2UG..1S6
34.91J
ll.llD
235. 37H
wk J'ly
Clev.Col.C.AIiuI May
Daubury * Ncuv .May
l.-s,982
KloOr. iM wkJuly
l)euv. & K. Q. W J HUB
Des Mo. A Kt. V.M wk July
Det.LaiisyANo. 2(1 wk July
Du1>.A.sioux rlty id wk July
119.612
Uf.lOU
7,987
E.TeiiM.Va ACJu. .May
276.3.(.•)
Denr.
A-
Evausv.
A
A
T.
H.
'.M
19.S.'11
16,900
wk July
l.^..SO.i
P. Marn. 2il wk Julv
Flor. K'way A K. 2<l wk July
Ft.Wiirtli A Ueu.lJuiie
Gal. II «r. A .S. Au.; April
Flint
33.466
13,440
57.231
23!',017
273.21)5
Wk Julyll
Fc June
IU.Ceut.(Ill.A*))|:i(l wk July
(Iowa)
wk July
Do
ftnd.Bloom.AW.lid wkJuly
K.C.Ft.S.AUulf 2d wk Julv
Kan. C. Si>. A M.l2d wk July
Kentuckv Cent IMav
LakiEri;- A \V..'2 wks July
L.Rk.A Ft smith .May
L.Kk.M.Hiv.A:T. .May
Iiong Iflaud
2d WkJuly
Aiiril
L'a Western
Loul.'tv.A Nashv. id WkJuly
Qrauil Trunk. . .
Gulf fol. A
.
129,579
191,800
S.
32.1001
i.'<l
Itar.Hougli.
AU.
1st
3H.144
35.450t
20,l).=i5
66.941
34,614
31,908
19,131
83.658
5«,031
230,265
21.670
61.000
138.207
wk J'lv
6>lexi('nn (.%*nt-. 2d WkJuly
JMei.N.,aIllliie« .luno
Hiiwiiuki'o A No 2d wk July
H.Y.
i:
I'tt.
O. .May
263.7
85,268
117,700
36.54.^
I
I
AW.
232.4S0
260.306
j
1!>3,142
|
90,222
A
wkn
June
June
June
2
We.st
July,
6.M.'.9
21'<,IMM
2.r((i-*',()'u
TradeBmeu's
Fulton
17.lMl.iil'
26l',o'l5
129,255
1,331.587
179.112
7,016.9,50
31)8,803
161,957
31,821
221,769
1,027.'.218
l,I4V,i8i
328, 140
1M3.500
1,277.655
6.389,nu3
2.223,587
1,486,603
833.519
271.H09
602,979
68d,306
620, ,9>1
781 ,971
2.0'!
.
loual..
Urov.,
1.881 300
<tTr..
1.333.0(K)
Kich
.-•
I,
M.».l,aiiic
-
tireenwlrl
1.033.200
Leather .Nfannrra.
Bereuih Ward
2.7'i
976.386
1.307,1
45
5,891 968
1,932,'714
7.578.200
Paclflo
3,314. .500
5.71B,8l)0
North America
l.HOn.'iOO
1(),2»8.700
...
Hanover
Oltliens'
...„
.
Nlcholaii
Hhoe A Leather..
Corn Kxrhanf^e ...
Continental
Oriental
Importers' Jk Trad.
84-1,523
Northern Ceni'l.
116.219 416.635 2,597, 771 2,620,2.55
Northern Paelttc
il,0ll.6.'3 1,143,123' 4,605 .5461 5,985,5^6
Ohio Central
42,261
98.163
Ohio.t MUs
3d wk J'ne
74,993
78.911 1.696. 892 1, 770.5ii5
2'35,872
26.876
27,392:
201 ,775
Ohio riouiluTn.. June
Oregon Imii. Co. MiO239.316 312,423 1,140. 85| 1, 382,5.')3
Ore;fiui Short L. .May
118,321
63.671
603, 804
300,093
Pennsylvania... June .... .. 3,735.638 3,906.174 21,319, 5M 23. ,333.219
PeoiiaOee.AEv. 2d WkJuly
.'.49, 755
11,595
11,058
337,637
PUlla. A Erie ... May
274,860 2a«,853 1,212, 256' 1 324.443
2,377.424i2.S27,94; 10.281, 910 IS ,009.901
Pbiia. d:Kea<lin); .May
I
National
Third National ...
N. V. Nat. KlOi..
17.978.900
5.242.900
1.227.800
2.29 1,300
180,000
297,000
.1
Bowery
N. Y. County
2..140.90O
Oerinaii
2.012,900
3.903,600
3.251,000
2.6B3.600
merlc'o.
Chase National..
Avenue
Geroian Exch'nge.
Oeruianla
...
United .States
Lincoln
5. 400
45.000
426.600
8,810.001
Pir.*t
177,900
210.000
180,000
4s',ood
2.33.5.200
180.000
44.500
178.700
134,000
3.119.900
3,3'J7.300
1,298,300
1,283.700
4.279,100
1.800.900
l,57S,;0O
1,830.900
Oartleld
Fifth National....
B'k of the Metrop..
We.it KMe
Sea'f'avil
Sixth National
307,627,700116 146200 45,198,100 387.883.300
The following are
Loani.
totals for several
weeks
S
$
$
July S 307.208,100 H411960ol42,688.000 380,798.800
Aqq. CUar'tt
$
I
1
I
I
9.839,300 484 J09,36«
9.70S.S00 488,978.958
tl.737,90O|57 1.813,321
11 3Oil.5v);.8O0ill62l.510(l|43.<i25.30ll 3^3,7.5,^.70()
lHi307.6^7.700 116346200 45. 198.lOOl387.883.3O0
Boston Banks.
—Following are the totals of the Boston banks
Loant.
Specie.
L, Tenden.\
$
£
Jttly » 150.211.300 8,782.500
••
11 I30,34'2.200l 8,78P.900
9,363,900
181150,470.700
18S.300
9.737.900
past:
Depntitt.
L. Tender*.'
Specie.
$
'•
45,000
iii'.hoo
»lil,300
18.158.50(1
10,545.000
3,321.000
1885.
103,500
g'89'.90O
2,o.5<).oon
1,301.3 29
451.928
1,331,279
358'30d
1.98.5,100
Central National..
SeeoDil National..
Ninth National...
I
ii'o'.i'oo
23,741. '.00
21.30:1,700
Park
North Rlvor
Kaftt Hiver
Fourth National,.
.V
180,000
2:n.20O
239.000
3.104.000
»..'! 11.700
2.923.700
2,038,900
1.889.800
8.518.000
4.181.200
6.408,600
Irrlni;
•
43»,00O
45,000
4.215.500
1.718.800
Peoplefl'
"
648,700
888.400
45,000
S.l.'iH.^OO
R«publlo
1885.
2.600
399 800
42.600
1,000
3.915.900
Total
925, ,918
1.603, 423,
149,000
1.5,613.000
Chatham
Firth
5|i).300
31.467.900
Rroadwav ....
Mercautde
Xanaau
Market
29«.HOO
1.242,.') on
State of N. V
Amerlc'n Rxch'ge.
Conimttrco
8t.
90,606
.''Kl
mo
I
.:•
1.
I,
I. '181.701)
22.2''0,
2.8"R.7i)(l
4.074. 8i)0
725.26(1
6,353.1 1»
305 434
1,9^8, 009
814, 900
293, 410
273.702! 1,212, 857
167.912
820, 3.57
82,9701
496, 115
87,7771 1,301.,214
8.'i,49.2
Amertoa
Fbenls
City
24.598
56,700
119.853
9.347
23,550
118,110
263,70
119,840
140,036
I
June
Norfiilk
2f3',327
127,,431
1,359, 008
199, 704
7,271, 506
ll.230.8.->7 1.308.5151
3tt8,7(i0
451.205
AXewEuK. May
I
W
ft0.4ti0
230.55.")
ll5,270j
29.3,932
'
2
6.147,,763
1,316..8»3 1,4.">3,!)I3
67,646!
283,.217
26 1. '105
ftK8,,264
103,70J
51(;,.::l8
ISS.CSit! 3,»3.\,92^ 4 201, •<73
1,981.12 ,lO,38r),,1-3 9,53 ", 8
30.2571
798,,088
749.772
43!»..541 11.877,,000 11,711.081
430,400 11.582,,454 11,505,627
96,100; 2,71 ,23'
2,883,04 9
2ll,6.-)6
6iO,086
820,607
17,2.^3 1,226,,000 1,181.365
205.490 1,207,,677 1,209.625
34, 711
813,,566
848.1(>3
9,586
237,,63
2<6.1i8
302,200 1,298,,3^
l,493.'il3
14,209
76,,30^
70.330
78,-33 2,960,,06,
2.657.237
57,320
429,,846
362,119
6.127
181,.Oil
1 1,6.667
20.514
689,,174
721.511
16,9-;;
427,,688
459,173
29.5.461 •1,476. 653
1.556.4 69
3S2.813
14,131
372,,93(1
36,922 1,001,,610 1,291.301
13.674
535,,74
549,794
33.0i8
210, 840
231.052
28,^,272
912, 126
919..=.9-i
323,250 7,697, ,586 8,664.668
125,501
588, 905
770,175
17>',R02 5,503, ,715 5,l.l3,7i-.0
31,9J«
608, 039
861,373
36,'i29 1,174, 4H4 1,156.914
36.6
1,313, 891
1,211.596
l!),6l8
573.2i.i»
872, 848
68.753
321, 243
318,593
i
21,789
81.756
13|
N.Y.Sus.i.AWeai June
bS.Y. Out.
t,04,.821)
35.16.'.
24,575
1G9.225
Im. i (it. No . i Avks June
Mobile A Ohio.. June
MorK.iirsI,.i.AT. -May
N. Y.
3,699'.9r!5
22.(i.'>4
4:.i,89li
L'uluu
1,36.),!)27
30,822
10.6:i6
Mil.L.Sh.A West 3d wkJuly
Minn. ASt.l^>ula Mav
Mo. Kan. A Tex. iwksjune
Fash. (.'h. it St.I.. June
N.O.iNonlieaat Juno
N. Y. Ch. ASt.L. May
aS.Y. L.Erie it W May
l.SS.'KM)
3:'o,ooo
527..! 14
«
2r>,3.')7
.
Ch.St.P.Min.AO.
Chic. & \V. Ml.h
229, 133
1,519, 460
1.73S.01M) 2.030.0 70
217.112 28r.4!l7
April
vi«y
Cei
9
46O.00O
0.392.786
.V.l, 58
108,289
lOB.Oilrt
I
Ciil
«19, Bin
0,008, 480
1,184.0>90 1.343.362
May
w. -Id wk .Iiily
-M wk July
tim.
B.
1884.
*
79.749
OH.Oll
..
188&.
Depoeits.' iCirculaUon Aug. Clear'tt
S
i
$
t
67.723.212
75.848,434
68 111.151
5,372.300 10^,492,10 •:22.O0S.80O
4,864.100 lll,li21,BOO'21.8B1.100
6,0 jl. 300; li 2.422.900121. 792.100
Philadelphia Banks.—The
totals of the Philadelphia
banks
1
Do C. A Iron.Mi.y
Bichui'd AOaiiv. June
Ch.Col. AAu^'June
Columbia A (ir.'Junu
Georgia Fac... Junu
Va. Midland.. June
West. No. ('.ir. June
Roeh. A Piltsb's 2<1 wk July;
Rjine Wat.A Ok. May
et. Jo. A WcBfn, tth wkJ'nc
flt.L.Alton\T II. ZiX wk July,
Do (Branches) 2d wkJuly!
Bt
L. F. 8.
&
wk Julv,
.'id wk July
\V.
-'d
St.L.A 8.»n h ran.
et. Paul ADuith I8t wkj'iy
8t.P.Min.& Man. Juno
South Carolina.. June
So. Pae.,Xo.lJlv April
jSoiithern Uiv
\prll
Arizona...
.Vpiil
New
I
Mi>tl(!0.. April
-Texas A N. U ...Aiuil
Tex. A 8t. Ix)ul8. IthwkJ'ne
Tol. A..\.AN.M.'Junc
Uaton Paoillc...! .May
Ctali r,-:it;.i; ...lApril
1.267.176 1,882.219
5.316, ,02ril
5, ,970.5'12
251,819
1,855, 573'
379 ,021
1
266,294
42.745
80.974
38.01C
118.9:13
25.787
2^.665
1.3
1.615
10.723
17,605
11,430
10,687
74.400
33,186
491.558
50,523
111,167
271,611
115,303
66.168
79.34
ll,580i
3S,2Si9
317 ,7881
28,118
40.221
12S.433
20,6291
21,8it
133,882|
1
10.635
19,26i:
10,2OJi
8,137
304, ,222,
692 ,155
206 ,026
004 ,069
608 .795
491, 255
588, 01303, 16(1
305,,938
79,0S2i 2.178 633
2«,5.55l
SIO,,823
712,165 3,121 ,028
55.771
532, ,991
95.876t
390 ,82!)
299,497 1,0,52 672'
17.\575
567,,318
23",,777
68,77»
80,969
2.49,,917
13,103
438,,330
19.19124.,0991
20,31
2,067,528 2,099.898 9,269,,134
52,755|
70,859
236 ,527
VI'
.'Jmiic
25.2Ubl
31.571
198 .1-20!
V;Juno
2i),50l{
9.110
153 318
.1'. June
W»i'
911.35«'l,171,32Vi 6,8:47 .980
West J rae.v
102.970
Mav
96.068
399,,742
Wiscousin Cent'l 2d w» July
20,69
23.0731
761 ,103
1
'
,
t
,825,102
357,89
298,851
260,222
732.705
190.136
518,912
589,458
1
700.346
39(.,070
252.244
.359.687
520.163
,684.9 51
577,338
313,'<52
,040,192
636, 07
232,527
317.335
363,">07
lOl.'.OS
,254.363
303,174
225.981
59.116
,418,838
415,135
751,574
a Not InclndlnK earnings of New York Pennsylvunia * Ohio road.
b I)ecnrft.se thi^ year wholly la mtnecllanoout receipts.
'Not luc'lndlnx the flrst six days u( J:uiuary, prouedlng time vben
Beceiver look p, sne^Hion.
< Not inoludin;.' Iml. Dcicatiir A Sprlngf. la cither year.
^ Mexican currency.
i Not Includlog Colorado Dlrislon In either year.
are as follows:
Lawful Money.l Deposiu.*
S
Jttly
27.150.700
27.428,600
27.39 <.30l(
7.5,511.900
76,O8'i.8O0
11
18
OirculaHon. igg. Clear'tt
s
«
78,701.300
7.375.500
7.363.50O
7.361.500
7H,9til.7"0
79.538.U0U
76.373.000
lu utiier nanica."
oanlca."
no il^.u
it^.u '*diio Lu
*lnota,ltaff tne
1
Unlisted Securities.
week
46.723.109
49.673,971
47.511,530
—Following are latest quotations for s
past:
S
,Uk.
curltiM.
Allaulic .t Pac— Slock....
Cent. tllv.. Ist, old
Am. Bank Note Co
a. K. AT.— Income
Uebenlures
Bnir. N.Y..t Phdadelphla
|N.
7d'4
.V.
70
.
25:
46
B-klyi Kiev.,
r(t
receipts
53
l8t
m
23
W
Hen,lt-r!<ou
Bonds
Bridge
—Stock
let niort
74
»>aalliern Tel.—Slock
Istijiort
.Set'ni'1.3,
State o« Tenn
(is
"^
I
'"
tirmtccr.
i
'
^t ir. cer.
10
iTes
hi"
crip 1834.
1
.'^ciip l.sij
102>> Tex.*ai.L.MJt.\Ulv.,na.p
M.it A. inv., 1st luort..
101
1
If.,-
'
S
IS1 19
96 1«
69
13'4
112
46 S
48
34
33
si"
<<
18 Si
y.inht
•«r
|Vi,-
,Vii
•7i...=!.
10
20
6
8S
67
Postal Tel.* Cable—stock
1
St.
98
10
16
I'*
lstmoit.,6s
I
|3t.
46>9'
,
16
1st
—
Settlement,
.
Prof
77%
.Postal Toleffraph— Stock.
8'..»
8
Keeiy Motor
5'«
I.
Kan«. tt Not*., Istlr'tcer. 107 lllO
2d trust cer
Moxlcau National
3
84
17"
mort
'UK Plttahureit Western,
Istuiort
Cont. Cons. Imp. Co.
Denv.ift Rio Urande— Cons 58
22
6»
1<9
DeuT.Klo Or. A
Ben. U. (1. * \V., l«t M.
43>3
Oa«l. hv I), .t U. ()
Rdl-nn Kloetric LlKllt... 50
Kquil. (i IS Co. "t N. Y..., 140
F(.\5'iirlh .t IJen.C. K.«t..
13
Ueorifia PiK*.— Stock
1st uiort..fis
2-
81
St cer.slamp
SlHi Peusacola it AtlanUc
25
2U M.. nr when issued..
42
57
pd
lucoiiies, a«s.
Pref
Trust Immla, 6»
,411:.
scrip
Y. M. Un. Tel Stock.
Y. W. Sh.A B.- StoCH.
ReoolvolH' c» rt
North. PttC— Div. bonds
Norlh Ulv. Cons.— 100 p.c
Ohio Cenu— Rlv. Dlv., 1st
lncom''«
Ohio Cent., 1st M.cer.as.p.
70
.
Bank.s.Mereii.rel.. gen.M
B. A .M. Tel.Co., Ueii. Cor.
Boil. II. it E.— New ACoek
Boat. ll.T.it West—Sfk.
Stcuritiee.
(
ei>i
,
.
I'ac
Kvei't sTcorolllifc— i'st
^5iii'
3
30
78
:
THE CHRONICLE.
100
[Vol. XLI.
&
Missouri River Railroad, and
Railroad, the Cedar Rapids
the Maple River Railroad, with their franchises, have become
%u vestment
&
merged with the Chicago
Northwestern Railway Company.
" Their fixed charges for the year, with seven per cent paid
on the common stock issued for their purchase, amounted to
the
The Ihvestobs' Supplement contains a complete exhibit of
Funded Debt of States and Cities and of the Stocks and Bonds
published on the
of Railroads and other Companies. It is
April,
last Saturday of every other month-^iz., February,
withJune, August, October and December, and is furnished
out extra charge to all regular subscribers of the Chronicle.
Xxtra copies are sold to subscribers of the Chboniclb at 50
cents each, and to others than subscribers at |1 per copy.
ANNUAL REPORTS.
Chicago
&
Northwestern.
(For the year ending May 31, 1885.)
The annual report for the fiscal year ending May 31, 1885, is
exclusive of the Sioux City & Pacific, and the Fremont Elkhorn & Missouri Valley Railroads, which are operated as independent lines, and the result of their operations stated below.
A map of the company's extended system will be found in
the Investors' Supplement. The actual number of miles of
road operated at close of the fiscal year 1885 was 3,843, against
3,763 the previous year, an increase in 1885 of 80 miles. The
length of road was increased 64 miles by the completion of the
Ottumwa Cedar Falls & St. Paul line, from Belle Plaine to the
Coal Fields, near Muohakinock, Iowa, and 16 miles by the conBtruction of the Princeton & Western Railway in Wisconsin,
from Wisconsin Valley Junction to Necedah; total, 80 miles.
total amount of steel rail track on May 31, 1885,
miles, being 88'32 per cent of the whole road.
The
was
3,202
CAPITAL STOCK AND FUNDED DEBT.
The capital stock was increased during the year by the
amount of 147,575 shares common stock, issued and used in
the purchase of the Iowa leased roads, making the total com-
mon
stock
May
31, 1885, $41,372,300;
deduct
common
stock
$10,006,800, leaving the net amount of
common stock outstanding 131,365,500. There has been no
change in the preferred stock during the year. The amount of
common and preferred stocks outstanding (exclusive of |2,820
of fractional scrip) is therefore $53,690,700.
The bonds of various issues retired and canceled during the
year amounted to $385,000. The bonds assumed in purchase
of the Iowa leased roads were $4,914,500. The Chicago
Northwestern Railway 5 per cent 25 year debentures of 1909,
issued for purchase of capital stock of Fremont Elkhorn
Missouri Valley Railroad Company, and for construction and
equipment, were .f 4,000,000. The Northern Illinois Railway
first mortgage bonds, $1,500,000.
The total net increase in
bonded debt was $10,569,500, and the total funded debt outstanding May 31, 1885, was $91,460,500.
owned by the company,
&
&
CONSTRUCTION.
$1,389,040, as follows
7 per cent on $1,914,500 bonds assumed
7 percent on $14,757,500 stock issued
Annual charge for Albany Bridge, Clinton, Iowa
$344,015
1,033,025
12,000
Total payments
.$1,389,040
" A comparison of
this
sum with
the rental paid for two
years prior to the purchase, which amounted to $1,506,941
and $1,497,187 respectively, shows the considerable annual
saving made by the company, and approximately the saving
effected during the last year, after making due allowance for
any decline of earnings on the Iowa lines.
"The control of the auxiliary roads tributary to the Iowa
leased lines, consisting of the Sioux City & Pacific, with the
bridge connection across the Missouri River, and the Fremont
Elkhorn & Missouri Valley Railroad in Nebraska, was acquired
by the purchase and transfer of their capital stocks (all but a
few shares of the Sioux City & Pacific), and these roads are
Northwestern
operated independently of the Chicago
Railway Company."
statement of their business for twelve
months ending May 31 last, showing that they have been
more than self-supporting in their combined operations, will
be found below.
" In pursuance of the policy of the company to reduce the
number of its minor corporations, the following named proprietary properties have been merged during the year with
the Chicago & Northwestern Railway Company, to wit The
Iowa Midland Railway Company, the Stanwood & Tipton
Railway Company, the Des Moines & Minneapolis Railroad
Company, the Ottumwa Cedar Falls & St. Paul Railway
Company, and the Iowa Southwestern Railway Company, all
situated within the State of Iowa.
" The falling off in the gross earnings of the year of
$1,518,568 was largely offset by a reduction in working
expenses of $1,865,356, while the general condition of the
road, equipment and property has been fully maintained. To
the general causes of depression, dulness, low rate3 and competition, which have affected railway transportation everywhere and reduced the earnings of this company, may be
added the particular item of transportation of iron ore, upon
which there was a reduction in earnings, from loss of tonnage
and lower rates, of $749,367 for the year a sum which is
equal to 49 34-100 per cent of the year's decrease. Passenger
earnings fell off $654,960, which sum is equal to 43 13-100 per
cent of the whole decrease, showing in a marked degree the
efifect of dull times upon the movement of travel.
The reduction in gross earnings proceeding from these two diminished
sources of revenue amounted to $1,404,327, and was 92 47-100
per cent of the year's loss. Other changes occurred in the
varied traffic of the company affecting comparative earnings,
but the above are the most important," The proportion of
operating expenses to earnings was 58 69-100 per cent, the
ratio of the previous year being 60 51-100 per cent.
&
A
:
;
The increase of construction account for purchase of the
REPORT OF THE LAND COMMISSIONER.
Iowa leased lines, building of new roads, second track, new
equipment, works of improvement, etc., during the year
Following is the statement of the transactions of the land
(exclusive of the Sioux City & Pacific and Fremont Elkhorn department during the fiscal year ending May 31, 1885, and
& Missouri Valley lines and their bridge connections) amounted the condition of the several land grants at that date.
to $20,195,762.
A summary is as follows
:
Cost of Cliicafro Iowa &Nebiaslta Railroad... $5,967,206
Cost of Cedar Rapids A; Missouri River RR. .. 11,240,589
Cost of Maple River Railroad
2,435,300— $19,643,095
For account of construction of new railroads
I,338,e4ti
Account of Western town lot company property
23,499
Betterments on property, and new equipment
],-242,966
Total debit
$22,248,207
Less sundry construction credits, forpremiam on securities,
land revenue, cancellation of capital stocks of proprietary
roads merged and consolidated durins tlie year, etc
2,052 445
Net amount
$20,195,762
report says
"The company has found it necessary to
begin the construction of about 75 miles of railroad, projected
as a coal road, under the charter of the Northern Illinois Railway Company, extending from the coal deposits adjacent to
La Salle, Illinois, to Belvidere on the Freeport line, where it
forms a direct connection with the lines of this company for
the distribution of coal in the State of Wisconsin and throughout the Northwest. The line will be a great local convenience
to the company, in reaching a supply of fuel by the shortest
and cheapest route, for its own consumption and for the wants
of the general public. It makes a short connecting link
between the Freeport and Dixon air lines which has long
been needed, and will save many miles of haulage in the
movement of cars to and from these lines. The means for its
construction are procured by the issue and sale of the Northem Illinois Railway first mortgage 5 per cent 25 year bonds
at the rate of $20,000 per mile on the 75 miles, amounting
to
f 1,000,000, and the bonds are guaranteed, principal and interest, by the Chicago & Northwestern Railway Company,
who
IS the sole owner of the property.
The mortgage provides for
an issue of $1,600,000 of the bonds, but $100,000 are reserved
for a branch of 5 miles adjacent to La Salle,
and cannot be
issued until the branch shall be built."
President Keep remarks in conclusion "The
purchase of
the Iowa leased hnes, which was explained in the
last report
and approved by the stoekholders at their annual and
special
meetmgs
June, 1884, was fully consummated during the
year, and these properties, to wit, the Chicago
Iowa & Nebraska
The
:
:
m
-Lands
yame
sold during the jjear.^
Lois.
A ores.
of Grant.
Minnesota
Minnesota
Michigan
Wisconsin
160
West.Town Lot Co.
511
Acres un-
per Acre
or Lot.
sold May
3J, 1885.
65,801
$347,693
18,711
5,553
12,817
50,201
63,295
43,233
Amount from Fre.
E.&Mo.V. RR..
626.311
$5 28
80 10
2 68
443.296
303,165
1127
84 GO
28,791
42,653
Miscellaneous
Total
Av. price
Consideration.
671
1,373,272
$588,683
90,070
The actual amount of cash receipts in the year from all
sources was $653,190, and the land contracts (notes, &c..) outstanding on May 31, $1,124,180.
The comparative statistics of operations and financial condition, prepared in the usual form for the Chronicle, will be
found in the tables following. These statisticsdo not include
the F. Elk & Mo. V. RR. nor the Sioux City & Pacific RR.,
acquired in July, 1884, but operated independently.
The
results of their operation are given further below:
KOAD AND EQUn>MENT.
Tot. miles oper'd
1881-82
3,278
1883-84
3,763
578
424
639
449
672
481
18,089
20,100
20,103
353
394
435
OPERATIONS AND FISCAL RESULTS.
470
252
cts.
8,190,893
Fi-'ght (tns)m'gell92,188,039
Rate pr.tiou p.m.
147 cts.
Earnings—
1884-85.
3.843
558
365
Operations1881-82.
1882-83.
1883-84.
Paf s'gers carr'd.
6,754,717
7,968,560
8,623,483
Passigermileage 205,574,178 248,856,303 256,386,389
R'te p.pass.p.m.
Fr'ght(tns) mv'd
.
17,9,32
Locomotives
Pa8.,m'l& ex.c'rs
Freight cars
All other cars...
1882-83
3,584
2-46
cts.
240
cts.
1884-85.
8,403,884
231,090.788
2-38
ct.".
7,874,665
8,233,127
8,453,994
1183,829,358 1350,173,773 1416,789,205
142
cts.
1-31 cts
1-19 cts.
$
$
$
Mail, expro8s,«&c
5,171,423
17,525,134
988,099
6,110,616
16,894,352
1,067,867
6,153,071
17,677,866
1,189,637
5.498.111
16.917.394
1.086,551
Tot.g'ra earns.
23,684,656
24,081,835
25,020,624
23,502,056
Passenger
Freight
$
July
THE CHRONICLE.
25, 1886.1
1882-83.
18<«3^81.
3,37'-',nni
3..'K)0.017
-.2,3122,01)0
7,7.'>.s.(i:m
2,4tH,a»7
•i.WV -'•
«,7l\<l,.'il7
K,i':it,12l
7,117'
022,538
U1H,785
1)72,021
0.1
12,030,031
11.043,022
53 37
14,072,510
10,000,310
58-44
15.110,056
0,870,803
60-51
1881-82.
F.X)irH»ft—
of may
Trniisp.
iniaccl
ti.
Tuxo8
Enrntugs from Juno
1884-t).'S.
9
$
3.574,110
l,78li.UO
Maliit'>'i\
1884, to
»
2,0311. 2^S
May
101
,
,
.il:<
Total
Not oarnliigii
P.O. esp. to cani.
13,703.007
0,708,149
58-00
INCOKB ACCOUNT.
1882-83.
1883-84.
»
A
Of
JB
11,043,023
10,000,310
0,870,008
0,70!*, 149
l,.'.ti;i,018
H.!)!)!>,-2(W
1.570,048
4.2MH.033
2,800,337
1.568,704
4.327.235
2,030,400
8
1881-82.
ffi
Net
ea^nlIl;^.^....
Disbii memento-
Rentals aid
Interest t»n debt
DlvldeuilH
I
Batouu
2,380,037
7'*
0>s
pref. ...
Tot. dli<h'in't8.
8
1, .334
1,348
8
08,120
7
58,000
8.233,583
2,701,439
8,848,038
1,181,281
0,118,408
0,132,449
761,200
575,700
On
absorption of Iowa leascdjlnes, rentals ceased and Interest and
dividend eliari;09 moroosod.
•
OEMKRAL BALANCE AT CLOSE OP BACU FISCAL TEAB.
1892-83.'
Chic.
&
N. W.-Koad'ieqiUp..
Other conip:iuli"<
do
Seal eotate In (JhlcafW
Bondt^ owut'il
6took8 owned
...Land}^t:in1 InvORtmoutA
Bills and ji(>c(>unt.s reeeivable.
Materials,
fut-l.
&e
18S3-84.
?.S(>,4-.'0.0:)2
55,tii;8.S72
20t),000
2,913,219
1,245,918
2,5'26,482
Cash on imnd
Xrusteesof sinking fund
2.710.408
1,525,000
Bonds
pin-cliase<l
Bonds
N ote
uiistild,
&c
of C'ousol. Coal
Co
Land
iucoiue account
Accinu'd interest not due
Miscellaneous
Balance uicouio account
14,500
21,390
Rental, 3 iwr cent, payable to 8. C. Jc P. KU...
Total balance to debit of income account,
Ogdonsbiirg
Thi.s
& Lake
M«y
0,329
$723,136
$121,939
$57 '272
31, 1885...
Clinmplaln.
{For the year ending March iU, 188.'5.)
company owns a line from Ogdensburg, N.
Y., to
Rouse's Point, 133 miles, and leases the Lamoille Valley Extension road, from Rouse's Point to Swanton, N. Y., 13>^
miles. It is controlled by ther Central Vermont Co., through
a majority of the stock.
The road carried last year 373,184 tons of freight, against
861,833 tons the preceding year, an increase of 11,863 tons, or
8'3 per cent.
The earnings for the year were
:
1884-85.
1883-94.
$016,815
398,540
$623,377
418,826
$219,275
as follows :
$204,551
Earnings
Expenses
1884-83.
$102,710,423 $126,833,870
39,l8(i,H10
35,530,234
200,000
200,000
•yiJ0,-212
308,020
20,323.3J3 tl2,28'.M3!)
730,000
1,221,000
1,102,626
1.890,S41
l,sOS,5H7
2,-.20o,3,39
l.!>6-t.603
3,807,101
1,730,003
1,034,004
Net earnings
The
$10,220,916 $26,617,368 ;!»ill,371.8H8
2-', 323, 453
22,323.190
22.32.%.434
2'2,330,100
2iMO;i,100
ll.-2-.'O.OOO
00,821,000
80,^01,000
01,460,500
400,000
1,023,406
1,027,772
1,514,221
1,525,000
1,934.000
1,730,000
1,065,633
1,880.317
1,690,080
82,608
80,631
113,262
530,304
562,343
284,000
310,000
537,000
300,000
275,000
273,000
1,033,365
2,938,675
2,954.216
675,393
675,395
705,060
60,601
8,425,863
9,187,120
9,762,819
result of the year
was
Net cnrninRs, as above
Interest on bonds
Interest on Uoatiugdebt
$218,275
$167,800
34,677
202,477
Balance, surplus for the year
$15,798
GENERAL INVESTMENT NEWS.
Liubilities.
Dlvld'ds (li'clarcd. not yet due
BlukinK funds paid
Current Mils, pav-rulU, (Sao
Uncollcctt-il coupons, ic
Kentals of loads in la., not due
9233,472 OiHtratIng expense*
$110,519
813.101 Taxes
51,082
11,782 Inlerext on bondt
242,028
30,740 Interest on floating debt.
1,178
Total
$315,075
Excess of earnings over exponaes In 1884-85
$147,210,021 $171,051,304 $135,807,108
Total
Btock, common
Stock, picfcrrcd
Stocks of piopriufry roads, &o
BondH (Sir SLTl'LEMESTjIJ....
to
Total
$
*3,0.S
ohargnablo
looome account, same
tlmn—
Mlacellaneoua.
Rental
•28.367
•5,00
7
83,000
..
Balance. Hurplus
$
7
08,120
Kato on conun'n
Mlitoelluni'oua
1S84-85.
AmonnU
Ist,
31, 1885,
vln.:
&
Merchnnt.s' Telegraph.— The sale of Bankers'
Telegraph property has been again adjourned.
Judge Donohue has denied the motions to set aside the foreclosure decree and to remove the Farmers" Loan & Trust Co.
Bankers'
& Merchants'
as trustee.
Brooklyn Elevated.—The .lfa(7 an<i .Ba;^rc** reports : "A
good deal of interest has lately been taken in the bonds of the
Brooklyn Elevated road. The line is seven and a half miles
long, running from Fulton Ferry to East New York. The
company expects to extend the road from Lexington Avenue
down to the foot of Broadway, making a total of ten and a
half miles.
The company has now outstanding
$3,.500,000 of
mortgage bonds, and the extension down Broadway will
be made without increasing the present issue of firsts.
•Includes general consol. gold bonds, $37,000; bonds of sundry Interest on the bonds is payable April and October, at six per
»
proprietary roads, $171,242; Iron River Furnace bonds, $2,000; Auroi-a cent per annum, and the bonds run to 1933.''
»
»
Branch bonds. $1.30,000.
"Several national banks in the city have been buyers, and
f Includes Chic. St. P. M. & O. stock, $10,315,659
F. E & M. V. RR.
stock, ,«l.;i<;6,300. Also owns C. & N. W. common stock, $10,006,816, the earnings have been at a rate to insure payment of interest.
and prefciTed, $2,234. but those items are included In the amounts given There is an issue of $1,500,000 of seconds, which will bear
on other sUk- of the account.
three per cent interest for the first three years and then five
Including $10,006,816 in company's treasury,
Total
$147,210,021 $171,051,394 $185,897,108
first
;
5
U Includint; live bonds in sinking funds,
to »838,500.
which amounted May 31, 1885,
per cent to maturity.
Canadinn Pacific.
TRANS-MISSOITRI RIVER LINES.
The
business and operations of these companies, which are
separate from those of the Chicago & Northwestern Railway
Company, will be found in their income statements which
follow.
Their accounts are brought down to May 31st, 188.5,
to correspond with the time of this report, although their control was not assumed until July, 1884.
The result of their
combined operations shows a net profit, over operating expenses, taxes, interest and fixed charges, for the twelve months
of 186,179. The loss on the Sioux City
Pacific was fltt.T.^Q
and the profit on the Fremont Elkhorn
Missouri Valley
$121,958.
LENGTH OP BOADS.
Sioux City A Paclflo line
107-32 miles.
Fremont Elkhorn it Missouri Valley line
<•
311
The stock
issue
is
$5,000,000."
—A special cable
dispatch to the Toronto
Globe, July 23, said: "Baring Brothers & Co. state that the
application for £3,000,000 first mortgage bonds of the Canadian Pacific Railway Company will fully cover the amount
issued. The subscription list closed on Wednesday."
—
Central of New Jersey. At the request of the Philadel& Reading Railroad Company, the New Jersey Central
directors met, .luly 21. Vice-president King, of the Baltimore
& Ohio Road, and Mr. Cowen, counsel for that company,
stated that they had a traffic arrangement with the Reading,
&
which, in view of the threatening condition of affairs, they
&
wished the New Jersey Central directors to ratify.
This
arrangement enabled the Baltimore & Ohio to reach New
York over the Reading and New Jersey Central. The reply of
the Central directors was that, in view of the impending suit to
The latter road is now being extended about 141 miles, to a annul the lease of the Central- to the Reading, its officers did
point on the White River, south of the Black Hills, and the not think they would be justified in entering into any obligatrack is mostly laid. It is proposed to run a branch north- tions to which the Reading was or had been a party.
The 2Vme.S' says: "One of the directors explained that the
wardly from the White River this season to bring the line
board could take no official action in ratification of the traffic
into closer proximity with the Black Hills country.
contract with the Baltimore & Ohio until the proceedings
SIOUX CITY & PACIFIC RAILROAD COMPANY.
against the Philadelphia & Reading Company for the cancelSTAJEMKNT OK INCOME FOR THE YEAK ENDING MAT 31ST, 1885.
It was stated that
lation of its lease had been disposed of.
Balance to delilt of Income account, being excess of charges
over Income up tj May 3l8t, 1884, Inclusive
$1,554,241
earnings from June
Amounts chargeable to
1st. Ih84, to May 3l8t,
tnc'me acct.,same perl'd:
1885, viz.:
Oiieratlng expenses
$393,928
Passenger
$211,486 Taxes
23.731
Freight
324,420 Int. on Ist mnrtg. bonds.
97,680
Express
12,488 Int. on U. 8. lien
H7,699
Mall
14,762 Dividends on prof, stock.
1I,S:0
Miscellaneons
20,378 Int. on floating debt
11,009
Prolic and loss
Cr.
37,983
Total
$583,534 Rental
21,399
By
Total
Excess of expenses
In
$619,294
$35,750
1884-83
Total balance to debit of income account.
FREMONT KLKHORK &
May 31st,
1885.. $1,590,005
MIS-SOCRI VALLEY RAILROAD COMPANY.
STATEMENT OK INCOME ACCOL^NT FOR THE TEAR ENDING MAT 3l8T, 1385.
Balance to debit of Income account, being excess of charges
over income up to May 3l8t, 1884, Inclusive
$179,211
phia
the Jersey Central directors are unanimously in favor of
accepting the Baltimore & Ohio's proposition."
Chesapeake & Nashyille. President Zimmerman of this
railroad, upon which work has been commenced, states that
the line will be joined to the Southern Pacific system, by which
the road will be 125 miles nearer New York and other cities
than any other thoroughfare. It is the intention of the comgany to begin operations between Gallatin and Nashville and
cottsville and Standford or Lancaster in a short time.
Chicago & Northwestern.-This company proposes to issue.
'on or before August 1 next, an addilitional amount of its consolidated sinking fund bonds of the issue already listed on the
Exchange, for the purpose of substituting them for other
classes of bonds of this company which fall due August 1 next.
All consolidated sinking fund bonds issued and to be issued
are coupon bonds of ^1,000. The bonds are secured by mortgage lien on 775-74 miles of rai]roa<l, with enuipment, in the
States of Illinois, Wisconsin and Michigan. Issue is at the
—
—
:
THE CHRONICLE.
102
by consolidation and retirement
a first mortgage on these
become
will
bonds
yU^^
under
of
and elsewhere Appli^ads and their terminals in Chicago be
issued August 1, and
SuonTas made to list $4,407,000 tobe issued
The
thereafter
for the small balance of *244,000 to
gi^n ^y the
committee on stock list has, under authority
rate of *10 629 per mile, and
directed that these $4,651,000 of bonds
list, making the
Be added on August 1 to those now on the
on the list at that
i^tafamount of cSnsolidated seven's of 1915
entire authorized
date *12,900,C00-beingNo8. 1 to 15,131, the
^vernng committee,
canceled:
excepting $2,231,000 lieretofore retired and
directs that on the 1st August the
the exten
Chicago & Northwestern sinking fund 7 s of 188j,
of 188o, matur6ion bonds T's of 1 885 and the first mortgage 7 s
ing on that day, be dropped from the list.
officers of the
Coliiiubns Hocking Talley & Toledo.-The
Columbus Hocking Valley & Toledo Railroad have informed
issue,
and the committee further
to pay a
the Stock Exchange of the intention of that company
on
dividend of 13^^ per cent in the stock of the corporation
August 9. This will increase the capital stock of the company
>
[Vol. XLI.
have now come into the re-organization plan, a gam of $27,000
since the last report. The cause of the late weakness of New
York & New England stock in the face of favorable development has come to light. A very secret attempt to buy out
the State's interest in the New York & New England second
mortgage bonds for purposes adverse to the corporation has
just been frustrated. The $1,945,440 (including funded coupons) second mortgage bonds were in the control of State
Treasurer Gleason, who, it is said, favored their sale. The
consent of the Executive was asked to the acceptance of an
offer of about $1,000,000 cash for the entire lot of nearly
One of the Governor's council advised
$2,000,000 bonds.
against haste, saving he thought he might be willing to give
Slate
more than a million dollars himself for these bonds.
Street house said that it would immediately give $100,000 more,
and could possibly secure .$300,000 more than the price alreadySome other people heard of the offer and hastened
offered.
to protest against any sale. The matter will probably come up
before the Governor's council next Thursday, but meanwhile
the recent sale has been blocked.
A
New York Pennsylvania & Ohio.— The application of
making it $11,700,000.
the New York Pennsylvania & Ohio Railroad Company to
Denver & Bio Grande.— The bondholders appear to have remand the case to the Circuit Court and to dissolve the
following appointment of Samuel B. Dick, as receiver, came up in the
grained an important point, as appears from the
United States Circuit Court at Erie July 21. James McHenry
dispatch
" Denver, Col., July 22.— Upon petition of George Coppell, and others opposed the application.
Mr. McFarland argued that the action by the McHenry party
Chairman of the New York committee of the consolidated
mortgage bondholders of the Denver & Rio Grande Railroad, against the New York Pennsylvania & Ohio Railroad was
Judge Hallett, in the United States Circuit Court, to-day fraudulent and a marauding enterprise; that he, McHenry,
ordered that payments upon the principal of the car trusts be had entered numerous suits in the English and American
$1,383,500,
..^,,-,11
final hearing will be
had. The court also directed the receiver to pay the coupons
of the first mortgage bonds maturing last November. Receiver Jackson w iU therefore arrange for their payment in
suspended until October next, when a
New York
on Aug.
1."
Thurs-
New York West Shore & Buffalo.— A small army of lawyers assembled before Judge Brown at Newburg on July 18,
demurrer
the day set for the trial of the foreclosure suit.
had been put in by the defendants and had to be argued
before the trial. Judge Brown set Tuesday, July 21, for this
argument, and on that day counsel made the argument and
also obtained permission to submit printed briefs on July 25.
The defendant's main ground of demurrer was that it required
the consent and request of bondholders representing one- third
of the amount of the mortgage to take proceedings to foreclose the mortgage in default of payment of principal or interHis claim was that this consent and request had not been
est.
obtained and made. Counsel for the U. S. Trust Company,
plaintiffs, claimed that the trustee may bring a foreclosure
suit without the express authority therefor contained in the
mortgage. He then claimed that under the fifth section of
the mortg.age it gave the trustee the power at any time when
interest was in arrears six months to elect that the whole
principal become due, and the trustee having so elected it
carried with it the power to foreclose the mortgage without
He asserted that the
requisition upon the other bondholders.
trustee had discretionary rights to foreclose, subject, however, to the right of one-third of the bondholders to foreclose.
The Judge had said on the 18th that he would appoint as
early a day for the trial of the main issue as would be convenient for all, and the second Monday in September was agreed
upon.
A
Kio Grande IVesteni.- The Boston Transcript
eays: '-The stock and bonds of the Denver & Rio Grande Western are being looked up by some Boston parties, and a few
facts may be of interest. The road runs 368 miles from the
Colorado State line, through Utah to Salt Lake City, and
thence to Ogden. It is the Utah and California connection for
the Denver & Rio Grande and for some overland traffic in connection with the Atchison Topeka & Santa Feand tlie Chicago
Burlington & Quincy. Its only bonded debt is $19,000 per
mile, or $6,900,000 sixes. Three coupons will have accrued
Denver
courts, but failed in every instance until the present.
day July 30 was fixed for the trial of the case.
&
Sept. 1, 1885, and, with these overdue coupons on, the bonds
are selling at 43)^ in New York. There are no other bonded or
floating debts and no receivers' certificates. The stock amounts
to $7,500,000, and is quoted at l^. Mr. W. 11. Bancroft was
appointed receiver by the United States Court July 12, 1884,
and for the year succeeding the gross earnings amounted to
$950,000, and the receiver looks for earnings the coming year
of $1,200,000 gross. The net earnings of the past year, some
^300,000, have been spent in betterments and improvements,
including fifty new span bridges and an iron bridge across
Green River. Mr, Bancroft writes that the physical conditicm
of tlie property is much better than ever before, and that all
extraordinary expenses are ended. The stockholders hope to
take possession of their property at no distant day."
A
dispatch from
East Tenne>;see Virginia & Georgia.Knoxville, Tenn., July 18, said: "Attorneys representing the
several interests have agreed upon a compromise in the case of
the Central Trust Company of New York, holding bonds of the
East Tennessee Virginia & Georgia Railroad, against the
Knoxville & Ohio Railroad Co., which only waits the ratification of the Court. Special Master Hume's report shows that
the Knoxville & Ohio road is indebted to the East Tennessee
Virginia & Georgia road to the amount of .$1,800,000. By the
terms of the agreement the defendant proposes to issue $2,000,000 worth of bonds, drawing 6 per cent, and with proceeds to
procure and turn over to the Eist Tennessee Virginia & Georgia Co., in discharge of above indebtedness, capital stock of the
Memphis & Charleston road to the amount of i52,400,000; 5 per
cent bonds of the East Tennessee Virginia & Georgia road,
Cincinnati & Georgia Division, to the amount of .1;2()0,000, and
East Tennessee Virginia & Georgia debentures to the amount
of $600,000, which the East Tennessee Virginia & Georgia Co.
agrees to accejit in satisfaction of all indebtedness. The Memphis & Charleston stock and the 5 per cent bonds above mentioned are to be deposited with the Central Trust Co., to bo
held as security for the holders of the o per cent consolidated
gold bonds of the East Tennessee Virginia & Georgia Co. This
compromise prevents an order for a sale of the road, and thus
cuts off the possitiility of its purchase by the Kentucky Central
or the Louisville & Nashville, either of which roads over it
could throw a competing line into Knoxville direct."
Northern Central.- The earnings and expenses
and from January 1, in 1884 and 1885, have been
for
June
:
June.
.
1885.
Gross earnings
Operating expenses...
?tl6.2l9
280,239
Ket earnings.... ?135,980
.
1884.
.
Jan.
1835.
1 to
$410,635 $2,597,772
J,55i,597
280,006
$136,629
$1,043,175
June 30.—
1884.
$2.6_i0.255
1,671,912
$348 313
Northern Pai-iflc-The directors of the Northern Pacific
Railroad on July 23 approved the joint lease of the Oregon
Railway & Navigation Company's property (terms stated elsewhere). The President was directed to execute the lease conjointly with the officers of the Union Pacific and Oregon Short
Line railway companies. It is to date from July 1, 1S85, and
will be presented to the stockholders for ratification at the
annual meeting in September.
—
Mississippi. The London Financial News says
good reason to believe that arrange aients have
Mississipj)! Railroad to
been concluded for a lease of Ohio
the Baltimore & Ohio. Mr. Garrett's proposal has been to
guarantee on behalf of Baltimore & Ohio a minimum traffic
over the Ohio & Mississippi line of $4,000,000 per annum and
to work the line at 60 per cent. Upon this basis there would
be a net revenue of $1,600,000 per annum, which is enough to
meet all fixed charges, to pay dividends on the preferred stock
in full, and a dividend upon the ordinary stock, which it is
understood will be made up to a minimum of 1 per cent per
Lehigh & Hudson River.— The directors of this company, annum, while if the traffic of Ohio
Mississippi should reach
in order to pay off, without borrowing, the large amount of car
$5,000,000, there will (upon the 60 per cent basis) be an additrusts maturing within the next two years, have proposed to
tional net revenue advailable for dividend on ordinary stock of
the bondholders to fund their coupons for two years from July $400,001) per annum, equal to 2 per cent additional, or some 3
1, the money thus saved to be applied to the payment of car
per cent in all. This agreement will be submitted to Ohio &
trusts.
Nearly all the bondholders have accepted the proposiMississippi shareliolders."
Ohio
&
"We have
:
&
&
tion.
Mineral
Kangc—The Mineral Range narrow-gauge railroad
a party of New York capitalists, of which
^B been sold to
Henry S.Ives is the principal. The price paid was some
$200,000. The road is twelve miles long and extends from
Jiancock to Calumet, Mich.
NowT York & New England.—The Boston Transcript reNew York & New England car trust bonds
fwrts that $890,000
>
Oregon
Railway
& Navigation — Oregon
Trans-Con-
tinciital.— The Boston rra7i4'cr/;)< has the following "It is
trje that the formal documents have not been signed— the
lawyers have been at work upon these for some time— but the
terms of the lease have been agreaJ upon and are explicitly
stated in the agreement drawn spme weeks since. In this
agreement we note the following terms, which may be if
interest The lease takes effect as of July 1, 1885, and is for
:
1
:
July
THE CHKONICLE.
25. 1885.]
099 years. The Oregon Compsiny sells and conveys to tlie
'joint fouipauies' everytliinj; excipt its frnncliise to h- n corfiomtion. books, oIHcb furniture iiml money on linnil July 1.
conveys to the joint companies all its leases, stoekH and
t
Of the 5 per cent general
nssots, mid TiT-;! miles of railroad.
103
New York
on Fri<lay, the 24th inst., and members
present were askeil to forward their proxies. It
was supiioseil that the sale of tliepro|ierty to the Pennsylvanal
Company would be coiisuminated at the meeting, but all that
was given out was that inemlters of the syndicate met and disnn>rt,i;:i^'o bonds which have been authorizeil upon this (>r)7-3
cussed the matter of <'ontinuing constructtim of the ro,id. No
luilea of r.'ad to the extent of ^iT), ()()() per mile, there .ire decision was reached, and the matter was left open fop
reserved !i!rt,0iK),()O0 bonds to take up and cancel the first farther iliscussion. The terms of sale are said to be $10,000,000
Navigation Com- for the South Pennsylvania and Beach Creek roads, the former
niortgaKe bonds of the Oregon Railway
pany, $1,')00,000 for the cancellation of a hko amount of in long bonds at three per cent and the latter in long Ixinds atfor
redemption
of
the delK-nture four per cent. In order toevade the provisionsof the Pennsylthe
scrip ami .tt!, 000,000
bonds. Then
1,000,000 bonds are set aside to be used, if vania State constitution preventing the purchase of parallel
needed, to settle and satisfy other claims and liabilities, lioes, it is thought that Drexel, Morgan
Cj. will be the nomincluding the Oregoninn lease, the claim of the Oregon
inal purchasers.
Trans-Continental for ^ir)0,000 for the Texas ferry grade, the
On behalf of Mr. Vanderbilt, General George J. Magee has
Bethlehem iron works (.-laiin. the Spencer Irvin suit, and for «ent out to the stockholders of the Beach Creek road an
the purpose of making needful miprovements and better- official circular setting forth the agreement entered into
ments.
Extensions may be made to the company's lines between the Pennsylvania and Vanderbilt, and urging theok
by the issue of these five per cent bonds, limited to ^2.5,000 to accept it. The circular says
per mile, as may be agreed upon by the parties in interest.
TIio Pennsylvania Railroad offers to purchase 60 per cent of flio
The terms for tiiis le.ise are payment of 3} | per cent f emi- stock of the Reach Creek, for which It nrill guarantee 2 piT cent xeralanunally,
on bonds representlna the ciwt of c<in»tructiiiu of the road,
onnually on the lf','4. 000,000 of Oregon Railway
Navigation
tncl<)onral OKpenses, taxcH and Icf^iil eli^rffco, tlit^ whole amount not to
stock to .July 1, inclusive, 188S, and three per cent semi- exceed .jl5,0Oi),CiO0. The Pennaylvariia further ajieKo to make a tralHo
annually thereafter. The joint c )rapanies wdl also pay the eonlraot fur the luovenii iitof the coal and other rrei^-ht of the Cleartleld
corjwrate and organization expenses of the Oregon Company. Bituminous ('onl C'ouipany, which is a corporation composed of ttio
These are the explicit terms as agreed upon by all the parties." parties who built the lioach Creek road.
General Magee further explains that, while the whole co3t
"The Oregon & Trans-Conlinental Company is certainly
getting into good shape. It will shortly realize over !j;l,000j- of the Beach Creek road was $5,000,000. the sum of $1, 300,000
0(0 ca^h from its miscellaneous assets, as the Oregon Improve- was borrowed by the company and is due and payable on
suflicient amount to pay this sum must
xnent (.'ompany will pay the ^00:),0(iO which it has owed the Dec. 81, 1885.
Trans-Continental for some time, and the Oregon
California therefore be deducted. The Beach Creek stockholders will
is dtsiroiis of settling witli the Oregon
Trans-Continental for get, according to General Magee, 70 per cent in bonds, 40 per
$450,000 cash. The signing of the formal documents clinch- cent in Beach Creek stock and 40 per cent in Clearfield Bituing the lease of the Oregon Railway
Navigation Company minous Coal stock (already distributed), making $1,440 for
to the Union and Northern Pacilic companies will assure the each person who originally invested $1,000 in the Beach Creek
O.
T. company an income equiviilent to 6 per cent on its enterprise. The Pennsylvania Railroad Company are not to
entire indebtedness, and at cnly eighty dollars per share the iseue any bonds or stock to Mr. Vanderbilt, but will simply
f 14,.')29,2(l0 shares of Oregon Railway & Navigation stock held guarantee the payment of a certain sum a year, and will
by the O.
T. company will pay the O. & T. debt of $11,000,- receive in return the control of the South Pennsylvania and
000, leaving its miscellaneous assets valued at above $3,000,- Beach Creek lines.
000, its 90,000 shares of Northern Pacific preferred stork
Texas & St. Louis. A number of persons interested in the
and its 110.000 shares of Northern Pacific common stock free securities of the Texas
St. Louis Railroad Company met at
assets for Oregon
Trans- Continental stockholders."
the office of the Central Trust Co. July 20. The special com'
held in
'
unable to
l)e
&
."J
&
&
:
&
—
A
&
&
&
&
&
—
&
_
Oregon Short Line. — Earnings and expenses
since January
have been as follows
1,
May.
.
Gross earnings
Operating exjienses
18j5.
ifllS.Sil
for
last week presented a statement of the financial condition of the comp.any. coupled with the outline of a
plan of reorganization. The report stated that aV^out $3,.5O0,00O
in cash would be required to pay off the receiver's certificates
May, and mittee appointed
:
-.
-^Smoa.Jan.KoJntiel—^
18S1.
$«3,«71
64,083
ISSJ.
I8-!5.
&
and other indebtedness, and to put the road in good workinjc
order. For the last-mentioned purpose not more than $450,000
NctearninKS
$14S,9i9 Def.$53.'241 is needed at once. The meeting accepted the report and re$16,2o7 Dcf.$412
ferred it to a committee consisting of President Paramorej
PennsylTiinia Railroad. The gross and net earnings in George Coppel, of Maitland, Phelps & Co.: William Mertens,
June and for six months, are specially compiled for of L. Von Hoffman & Co.; and Louis S. Wolff, of Kuhn, Loeb
the CURONICLE in the tables below.
In June, 1885, & Co. This new committee was given full power to perfect
there was a decrease of $170,536 in gross earnings and a the
plan of reorganization, prepare the form of agreement
decrease of $173,582 in net. and for the six months a decrease between
the various parties in interest, and solicit signatures
of $2,013,050 in gross and $1,592,383 in net compared with 1884. to the
said plan.
On the lines west of Pittsburg the net returns show an increase
The sentiment of the meeting was in favor of taking steps
of $60,180 in June, 1885, compared with June, 1884, and a
to have the advertised sale of the Texas Division road under
decrease of $161,518 for the six months in 1885.
foreclosure postponed for thirty or sixty days from Aug. 4.
LIXES EAST OF PITTSBDRO ASD ERIE.
Union Paciilc. The statement of land sales of the Union
aroM Eartiingi.
jVe( Earningt.
Pa 'ifio for June, and for the first six months of the calendar
ias4.
1885.
102,061
5irtii:<,S0i
$;;oo,093
454.385
3;)3.:i3l
—
—
,
,
18S5.
$3,277,522
3,075,70j
3,635.374
3,704,890
3,890,469
3,735,633
Jannarr
February
MarPh
April
Mfty
Jane
.
1884.
$;)..574,233
$i)S0,574
i{ll.I66,13(i
830.4^9
l,;24,57!l
l.ltil.lOi)
1,404.551
3,126,733
4,002.627
4.156.3(9
4,267,173
1,272.948
1,355,295
l.e91.45ii
l,e3ii,49i
3,90(),174
009,444
1,083,026
$23,333,249
»G,519,859
$9,117,242
year,
is
as follows
.
:
Jttne,
Acrfs.
Union Div.... 84.725-89
Kaniaa Dlv.. 75,508 51
1835
.
Frocecds.
46
351,611 70
!{>131.382
100,231-40 $182,994 16
June, 1S84
72
0nlon Div....41.';,lrt7-40 $758,100
--172.881- 19
Kansas Div.. :<S. 132-10
Total
Total 6 mos.... $21,319,593
.
As
to the lines west of Pittsburg and Erie, the monthly reports issued in 1884 and for the current year show the results
below.
The company's returns, however, state a loss for the
BIX months in the present year, compared with the year 1884,
of only $121,153.
LIHES WEST OF PrTTSBnRO £ ERIE.
Nil Surplus over all Liabilities.
18S.V
1884.
Janimry
Def. $73,420
Def. $10«.5.56
Inc.
33.136
tVbniaiy
Def. 190.7H0
iJef.
150,051
Dec.
40,729
March
IXf.
56.010
Def. 10.-i,8«3
Inc.
52,843
April
Def.
49.(i-)2
70.4
Doc-.
120.125
.May
Def. 191.577
Def.
47,75t
Doc. 146.823
June
Def. 300,718
Def. 3rfO,!»28
luo.
60,180
Def. $886,008
Def. $724,490
$931,04191
29:','>65-40
$148,017 75
95
95
651,790-60 $1,892,422 90
Sirmontlis o/1884.
.
2,051,
ll>3-i)l
206.382-34
2,257,575-38
1,605,784 73
$1,127.12123
970,516 30
$5,103,967 59
$3.';il,544
63
&
Deo. $161,518
—
Quiney .Hissniiri & Pacific. This railroad will go into the
hands ot the trustees for the first mortgage bondholders next
week.
—
Roelicster & Pitt.sbnr^. Mr. Walston H. Brown, President of the R'lchester & Pittsburg Railway Company, has
been served with an injunction forbidding the aflvertising and
sale of the road on the decree granted June 20, 1885.
Mr.
Brown says the injunction will not hold, and will speedily be
—
Wabash St. Louis & Pacific. The receivers have arranged
to p.iy the interest <luo Jlarch 1 on the St. Louis Kansas City
Northern real estate bonds, amounting to $105. (KK), on Aug..
1, and the interest due April 1 on the St. Charles Bridge bonds,
$43,000, on Aug. 15.
&
dissolved.
South Pennsylvania— Beach Creek Clearfield & Soiilhwcstern. The terms for the transfer of the Vanderbilt interest in the South Pennsylvania to the Pennsylvania Railroad
Company have not been positively announced. It isl>elieved.
however, that the contract was practically concluded at the
meeting he'd at the Grand Central l)e|H)t on Thursday. A
meeting of the South Pennsylvania Railroad syndicate was
453,299-80
$'.53.43'!
l,338.96i
A'icksliurg Shrcveport & Pacific— This railroad belongs to
Texas Pacific,
the system of the Cincinnati New Orleans
whose lines are well shown by a map in the Sui'I'LEMBNT. With
the characteristic steadiness and persi>tence of Englishmen ii*
spending capital to bring up and develop an enterprise whichhas promise in it, the managers have gone on w-ichlhe work on
this road. The raising of the track between Monroe and the
Mississippi River has been practically completed from Monroe
to Riiyville, a distance of twenty-one miles. The contractor'*
forces have been moved to the new work, reaching from Rayville to Delhi, and it is exiiected to complete this section of 1<J
This leaves but the third section from
miles by October.
Delhi to Tallulah, a distance of eighteen miles, fourteen only
to be raised to practically complete the work, as the balanceof the track to Delta is nearly at the high water level, and the
company has a large force at work ballasting this latter portion of the road.
U
TotalGmcmtbs
Total
Decrease
Sir months of 1885.
Proceeds.
Acres.
313,432-38
338,357-92
—
—
Wisconsin Central. A press dispatch from Milwaukee,.
July 22, said " The management of the Wiscon."(iu Central
Railway officially announced this afternoon that they had
secured right of way into Chicago, and would at once begiA
:
'
the construction of a line from Milwaukee to that city."
;
.
THE CHRONICLE.
101
Site
[Vol. XLl.
COTTON.
^ommtvcml Sxmes.
Friday. P. M., July 34, 1885,
as indicated by our telegrams
from the South to-night, is given below. For the week ending
this evening (July 34), the total receipts have reached 3,194
bales, against 1,972 bales last week, 1,263 bales the previous
The Movement of the Crop,
COMMERCIAL EPITOME
Fkiday Night, July 24, 1885.
of week and 1,643 bales three weeks since; making the total
The weather has been so intensely hot throughout most
bales, against
incon- receipts since the 1st of September. 1884, 4,721,325
physical
much
cause
to
as
review
under
week
the
4.801,484 bales for the same period of 1883-84, showing a
of
course
the
with
venience, besides interfering somewhat
decrease since September 1. 1884, of 80.159 bales.
Presibusiness. The death of the illustrious General and late
lotat.
Fri.
Wed. Thure.
M07l.
Tues.
Sat.
Becclpts at—
interdent, Ulysses S. Grant, on Thursday, caused on that day
47
10
2
5
will
8
7
15
there
Galveston
ruption to the dealings on the Exchanges, and
23
23
....
---.
....
....
ludlanula, &o.
the
on
business
of
suspension
entire
almost
doubtless be an
296
70
30
38
129
17
12
New Orleans...
8
25
day of his funeral.
1
5
4
4
3
Mobile
Lard futures were stronger early in the week, but latterly Florida
speculation has been dull at drooping prices, closing to-day at
October,
6-74c. for August, 6 89o. for September, 701c. for
Spot lard in
6*95c. for November and 6 90c. for December.
Bavannah
Brunsw'k,
for
for prime city, 6 80c. for prime Western and 7c. for refined
the Continent. Pork has been in fair demand, and the advance
noted in our last is fully sustained at $11 50@|11 63>^ for mess
clear.
4
....
5
52
200
Totals this week
260
419
271
262
Br'8w'k,&o
Charleston...
Pt.Royal,&o
Wilmington..
M'headC.,&c
Norfolk
W.Point,&c,
New York...
Boston
Baltimore ...
Philadera,&o
TMs
Since Sep,
1, 1883.
Week.
156,485
11,036
296 1,514,093
25 229,177
76,505
512 721,009
10,8^7
511,005
7,692
93,620
770
Galvest'n.&o.
New Orleans.
Mobile
Savannah
Uharl'st'n,
;
400 bales Havana, 60c.@$l 15, and 350 bales Sumatra,
|1 30® $1 60.
The speculation in crude petroleum certificates was dull
early in the week and prices declined but yesterday and today there has been much buoyancy in the market, and the
also,
253,229
42,899
651,145
8,084
417,452
13,705
91,758
12,658
579,926
222,245
108,149
185,46
29,822
77
5
9,621
169
548,998
283,058
68,086
83,219
42,319
64,485
10
14
4
1,073
221
245
12
63
846
23
1,539
23,226
37,373
3,381
2
3,650
1,374
393
1,256
1,400
301
779
1,331
9
1,901
176,740
6,310
67,821
2,210
5,623
172,631
6.310
1,878
7,691
2,8004,801,484
223,132
235,605
400
close
is at $1 01J^@$1 015^; crude in bbls. quoted 7i^@73^c.;
refined in bbls., 8^@8}^o., and incases, GJ^QlOJ^c; naphtha,
The speculation
in spirits turpentine has wholly subsided,
quoted nominally on the spot at S73^c., with only
8«3^@37c. bid for early and 37@37i^o. for later deliveries.
Rosins are nominally cheaper at $1 17>^@|1 20 for common
&o
Of
metals, the following is the report from the Exchange
Iron very dull at about $155^®$16i^. Tin quiet,
with 23c. nominally asked for snot; futures firmer at
20J/@
21c.; 10 tons September sold at 221oc.
Tin plate strong at
$4 45@$4 621^. Copper quiet; lake firm at 109o@ll'20c
Baltimore steady at 10^@10-40o. Orford easier at 10f310'35c
Lead steady at 4-07i^@4'20c. for domestic, 4'70@4'8fj^c. for
foreign. Spelter easy at 4 'SO® 4-40c. for domestic.
Ocean freights have shown an upward tendency for grain
rates, but the close is quiet and barely steady: to
Liverpool
to-day:
•
3,670
2,145
5
14
296
25
512
16
1,101
1,135
944
934
Tot. this w'k.
2,194
2,800
8,296
1880.
689
1,744
3,985
151
458
166
1,473
26
1,433
3,198
2,023
5,101
2,07»
3,100
6,126
16,151
10,859
974
1,700
2,482
44&
512
79
4721,325 4801.481 5933.490 4654,991 5757.558 4890,902
Galveston Includes Indlauola; Charleston includes Port Eoyal, &c.
Wilmington Includes Morehead City, &o.; Norfolk includes West Point.&o.
The exports for the week ending this evening reach a total
of 8,058 bales, of which 3,858 were to Great Britain, 1,461
to France and 2,739 to the rest of the Continent, while the
Stocks as made up this evening are now 233,133 bales. Below
are the exports for the week and since September 1, 1884.
Week Eliding July
From Sept.
1, 1884, to July
Exported to—
84.
Exported to—
Great
Contt- Total
BriVn. IVance „j„t. Week.
/rom—
GalYeston...
New Orleans..
1.187
MoWle
Florida
SavaDDah
.
Charleston
•
Wilmington
;
8d. Petroleum charters were more active, and late
business
includes crude to Havre, 38. lOJ^d,; refined to United Kino-°
dom, 33, 8d., and to Continent, 3s. 73^d,
we
184
675
239
220
250
160
179
466
1.
1881.
1882.
1883.
77
770
86
181
77
5
169
it is
to good strained.
1884.
70
Wilm'gt'n, &c
Norfolk, &o..
AU others
Since Sept.
;
Antwerp
8,475
,514,204
86
5
184
1834.
1885.
591,145
47
23
1885.
Receipts al-
:
3d.;
2,194
In order that comparison may be made with other years,
^ive below the totals at leading ports for six seasons.
leaf continues to
the week are 1,550 cases, as follows 400 cases 1884 crop,
Pennsylvania, 73^@9c.; 150 cases 1883 crop, Pennsylvania,
8@13c.; 200 cases 1881 crop, Pennsylvania, 6@10o.; 250 cases
1884 crop, Little Dutch, private terms 200 cases 1884 crop,
Ohio seed leaf, 5 J^@5i^c., and 350 cases Sundries, 5 i^@35o.;
London,
1,07»
929
Stock.
1883-84.
Since Sep.
1, 1884.
2,194 4,721,325
Total....
of
store, 3d.;
53
796
we give the following table showing the week's
This
Week.
Savannah
which 75 for export.
be taken very freely, and the sales for
2Md.; Avonmouth, from
10
14
4
....
....
....
Mobile
Florida
;
and
169.
....
20
New Orleans.
August, 7'35c. for October, 7'35c. for December and
February. Mild coffees have met with an active
demand at full prices. Raw sugars have been quiet and barely
steady until to-day, when the market became active at full
prices, the sales including 50,400 mats Iloilo at ifgO. regular,
and two cargoes Centrifugal at 3;''^c., c. andf. fair to good
refining quoted at 5 l-16@5!^o., and refined firm. Molasses
has been dull and closes at \l%c. for 50 deg. test. The speculation in tea remains at a standstill.
Kentucky tobacco has remained quiet, with prices nomin-
7c.
1
10
....
Phlladelp'a, &c.
Galveston
Ind'nola,&o
7'50c. for
Seed
6
lO
&
15
35
66
14
July 24
for the corre-
1883-84.
28,771,000
sales 100 hbds.,
51
6
10
3
1884-85.
7*15c. for
;
1
Receipts to
Inc. 10,691,200
lbs.
Pork
lao. 66.557,282
201,758,894
lbs. 328,316,176
Bacon
Inc. 57,424,208
156,880,927
Lard
lbs. 214,303,135
Coffee on the spot has been rather quiet for Rio, but it is
The speculation in
quoted firm at 8»aC. for fair cargoes.
options yesterday was quite active at buoyant values, but
to-day there was a slight reaction, closing with sellers at
unchanged
....
512
and the stock to-night,
and the same items for the corresponding periods of last year.
sponding period last season. The following is a comparative
summary of aggregate exports from October 57 to July 18.
ally
-.-.
For comparison,
Oleomargarine is quoted lower at 6=30. and stearine
7%@8c. Butter is dull and easier at 15® 30c. for creamery.
Cheese lower at 6®8c. for State factory. The number of swine
slaughtered at eight Western towns March 1 to July 15 was
1834-85.
39,465,200
2
Moreli'd C.,&c
Norlolk
1
2
3
1
total receipts, the total since Sept.l, 1884,
5^0.
same towns
---.
Boston
Baltimore
Pickled bellies <i}4@6%o., shoulders SJ^c. and hams 10M@
lOJ^c. Smoked hams are quoted at ll@lli^c. and shoulders
at 63>^(a6i^c. India mess beef is dull at $19@$21 per tierce;
extra mess quoted lower at $10 and packet $11@$12 per bbl.;
beef hams are dull at $22 per bbl. Tallow has been dull a*
3,574,484, against 3,082,333 at the
299
---
WUmlngton....
West Polnt,&o
New York
are firm but quieter.
Cut meats
206
Charleston
Pt. Eoyal, &c.
the past few days has been quite dull, and closes lower at 6 60c-
and $13 75® $13 for
<to.
Nortolkt
New York..
Boston
Baltimore ..
Pblladelp'a,&o
Total
1,416
578
8,858
5T9
676
Great
Britain. France
157,648
9.619
698.609 206,846
43,130
8,585
179.803 11,689
184,211 22,259
51,832
813.260
6,375
162.643 48,715
129,005
125.618
8,087
62,755
Continent.
24, 188S.
TotaL
281,418
332,788 l,S26,2ia
700
43,880
64,145
199.256
153,515
14,040
25,670
191,149
620
40,871
6,816
3,686
390.858
S39,98S
65,868
345,805
732,50»
129,825
169,974
68,071
8,058.2,420,180 3e.S,600 1,028,0';0|3,647,65»
Total 18SU<4 17.410
2,192 20.572 2,429.32o'l66.1S8
* Includes exports Irom Port Boyat, *c.
Includes
exports
from
West
Point.
Ika.
Ut
918.28113,813^
.
THE CHRONICLE.
JOT.Y 23, 1885.]
In addition to iilK>vt> exports, oar telPRrams to-night hIho kivo
the ft>lli"vin}C iiinountH of ootton on Hhii))K)ur(l, not cli'iin-d,
1' "'• "
'^ "
I.
ndd similar figures for Now Yorlt,
for our Hpecial use By Messrs, Carey, Yaie
U!)
Wo
'
.\
tMivina
AT—
21,
fill ^m f 3^1 i^il
mf fill
li?| im hH
ml Un
SMpimard, not ctmrtd—for
Oil
JDLY
Tmi Salu and PRicn» or FtTTunn are shown by the following comprehensive table. In the statement will be found the
daily market, the prices of sales for each month each day, and
the clotting bids, in addition to the daily and total sales.
Str«)t.
1.1
'
'
Great
France.
Britain.
Other
Foreign
Onatt-
ISO
None.
None.
None.
None.
None.
icite.
ls-8?
Stock.
Total.
^11 "lit
i
Ni'w Orleans
MoMl.i
None.
None.
None.
None.
None.
None.
None.
None.
None.
Nouu.
None.
1,000
1.000
None.
None.
255
None.
None.
Nono.
None.
Noue.
None.
None.
1,000
171.310
13,478
2,000
1.831
1,350
255
.5,430
2 17.093
5,77»
11,067
873
2.400
2,950
907
10.059
17,213
225.546
304,770
Ctuirlcatou
toTiuuiah
O»lv««ton
Norfolk
New
Vorlf
Otlierporlg
Total 1885.
Total 1884
Total ltis;i
The
1,631
2yo
1
1,132
.aoo
21.187
3 8^1
2,039
None.
None.
1.711
1.371
H4U
o c r*
I
^2
o
o
fr
to
I
2
•I
9?
Ordln'y.^Jlb 7iSie
etrlptOrd..! SU,
Good Old.. 91,8
etr. aMOrd D^ie
7\
,
83,8
9
«=*«
l>iwMiddV 9%
91I18
Htrl/wMid! 8'5i«
9-'t
Middling... 101,.
10
Jood Mid lOH ilO-ija
Mtr.Ci'dMld 107,8 10S9
Midd'sFair 10il,8l0\
I'liir
Ill-,, 1138
.
7l»i«
MrictOrd..
iMKidOrd..
8%
8'l«
914
9-'ig
-tr.li'ilOrd
9»|„
gvg
-tr.I.'w.Mid 101,8
inK
lO^is
Mid.. 1038
d Mid 109,8
9»(,
Low .MiddV
•
8
.Midd'gFairlOiti,
a
:n»,8 1158
•"air
Sat.
I
OJ5
2
7"fl
8^18
im
9>«
913i8
9V
10
103,8 ilOlg
1038 1106,6
10«,8 lOij
1010,8 lO'a
119,8 lllHl
103,8
loan
10%
1138
jTSred
8'fl
SMa
rfi'lg
H><
105,8
10i«
ICa
11»«
93b
9^
9%
10
101,8
103,8
lOH
O^a
103,8
103«
10>«
1011,8
lO's
10»8 1038
U»9
11%
10>s
109,8
lOlI,,
10%
10
8ifl
8»ig
93h"
9%
101,8
IOI4
1038
103,8
1068
lOlj
1' U,6
lOiiie 10%
111,8 ii>8
im im
1178
Sat.
raon Tnes Wed' Th.
llll,8ll%
11%
oco
^<M
GO
tow
2
toa>
-i-j
it-O
1
9.-:
,
«5o^
C
1,^
00
5
2
<si
®M
1
I
I
'
:
'
Ordinary
Oood Ordinary
Uddling
"K
7%
^^Ib.
§ll«
S'b
gia
99l6
MAKKKT AND
:
I
I
738
^i'"
8'8
918
1
,
I
lHa
I
or.
lOTfl'"
im
ifg
Hat
.
Mnn
.
Sfp.idy at ifldec.
i;\ii.t lU 1,6 dec
It
Totnl.l
rmrt.
tump
1,150
.
3,8 adv..
iy at 1,8
.....
Con-
ymet at «
adv
adv..
250
1
-i
Spec- Tr an- _ , ,
ul'fn *«. ^''""
165
483
726
rcTuiuts.
SaUt.
Delip.
1,315! fii.ooo:
483; 08.0001
729 111.000
8U
1,001
11'.).
100,
90
405
405| 7(i,100|
1.400 2.682i
4,082 572,700'
90, TO.OUO
T'l- dally dtdlreneA irlven above are aotaally
lu to tUat ou wMoli tliey are reported.
delivered
the day
-
.
:
il
CD
WtOMi
o.m:
I
2
».=>:
I
I
99
5 99
• ca
O'O'
I
oto:
99 ? «•
99
SB
Ji
-)
» ^2
-J,
ts
I
"«
»£°:
cefflQ9
-.1
-^1
*-os
to
-|6oei
I
•?
2
so:
I
-.'i
*.^
M
9
00
5'
-JA
2
1
xCob ccxOgb
<I
cow
I
..lO
X
00
IJ
w—
obcD
2
ox
e;co:
I
CO
**
ctco:
•4
1
c» Oi
Ot
-a>jo
-1
OS
"<
M^3
^^
Q*
O '^ o '?
00
00
M-4
1
00 5 99 ? o» 5
9 ox »
CO X
MO 1
2
xto
"«
O.co.
1
'^
9
:
as
OoCo
iCo
„
CO
00
XM
5^
«m:
(XiaOO)
00
OX 9
«?
oop
H-133
6*C
»»:
MOS
•*
«.«>:
OPX
H^
a.":
0009
Ifc,
isr:
06
2
^
a.w:
5 -j -j-jc^
0<>-M^
CO
00
Oi53
MO
lOtO
030 OCpO 000 9 OOcO
obOJi
29
6eic«
M
OOoO
*)
5
I
«J3:
9o§o OOCO
00® 6
OiO X
CDCcC.i)
99
5
T
99
00 ?
2
MO
"<
«»:
a«-:
OtO'
»«:
MM^M
MMpM
ccgc M"^M
OOpO OSo*
CCoC ococ OOoO
M0C6 66c-i, cipcp
6-:'06
o«-_ o osi^'co cooa to ox OS OS— o
M.- ^
> sx
00
CO 5
5
ok:
M — CJM
I
2
»m:
M CO-^
O oC
o M
1
O,^
'
1
to^5
If.
I
1
60
MO
:
I
1
I
to to
to
o
I
*-<!
a
I
2
*^
xm:
M—laM
CI
(
COpP COpC c 09 OOpO
c.i 6m06
lOloOtO totgOh
to
CSCO
CO
^ esp o
o
I
1:
I
>
l>-
•4
I
9m
s
s
2
o
ooSo OXoO
tf>
o.-j:
5
».-':
o<
I
CO
99 -7
Moj 2
OOm^
COSS^''
I
I
o-og»
ccto
o
«M.
QO<l
tcx
»^
SALES OF SPOT AKD TRAMSrr.
Ex-
-j
M
1
^^
rhe total sales and future deliveries each day during the
week are indicated in the following statement. For the convenience of the reader we also add a column which shows at a
glance how the market closed on same days.
SPOT MARKET
CLOSED.
**
•«»:
MM
FrI.
5
u
(SO
«•.<»
MM ^
oc 5 00
CO 2
91a
B'8
108,8
1038
10>9
1011,8
9%
I
OOoO
6606
P"!
811,9
911m
*.M
* M
**
oto
»id
2
»9 ? 00
oooo
9o9
<|0^ -I o
*"*
FrI.
SALES.
80-.:
I
»?•'
-j
«o 5 00
cc6 2 66
l»-0
io4
914
9'8
XJO s
-Mto-.
-If-."'
I
I
2
''
o-rf-
(C
10^8
9l8
5
2
00a
MMa,M MM
1
IOI3
105,8
!»li<;
IJ
9C0o'-i
o
10
7%
»
o -i
-J
OWi>5.j
00 5 99
2 60-^
779
S»18
9«i
9>4
913,8
7»8
79,8
8>4
5
I
•*•:
-i-j
I
<lf)o<l
**
•
I
00
=>-?
»<>:
I
«,->:
00
<coo^
09
I
Til.
llllis
lUlA
STAINED.
BI|A
«•«
9S18
91116
8U18
93B
9%
Wed
Th. FrI.
SM
S"*
.')«i«
10
10^8 10i«
103^
106,8
109,8 ilOia
lOiSie'lO's
119l8 Ill's
lOifl
eo
MM
-j-'i
».«•:
eio
acs
TEXAS.
inon|Taes
7 '8
7"i,! 7^8
75l8
bSig
S3«'
84
S'ln
t'iB
9ii
9
93,8
O-fl
93,6
ysB
on,*
»><
914
9»8
1(13,8 913,8
9l'i,.
9»i
IOI16
10
10
101,8
9'fl
916,8 101,8
1018
to"*
lOM lO^R
101,8 10»,8
lODg
lOJli"
.
mon Taes
7%
IWedl Th. FrI,
Oi-din'y.«»>
{
oa
1
CJIwI
NEW ORLEANS.
5
ox
•;
I
I
-j-i
—
Sat.
<o(o
•*
OD I:
o
I
on Monday, and advanced 3-16c. on Wedneson Thursday. To-day there is a further
advance
quoted, but the close is entirely nominal at
10?sC. for middling uplands.
The total sales for forward delivery for the week are 573,700
bales.
For immediate delivery the total sales foot up tliis week
4,083 bales, including 1,400 for export, 2,683 for consumption,
for speculation and
in transit. Of the above,
bales
were to arrive. The following are the oiBcial quotations for
each day of the past week.
Mon Tae*
<
9-i:
5
S
:
'^05?
ts'.s:
OOo=>
00
S9 ®o?
00 o COt^OM 66
M
M
> tS'-D
> CO
O D 5^
IJ 00
IJ
6 a » ceo 2
-j-"i
c»
2
2 CBOo q
M»,-,"« ~l X M ^
MM,..,**
IOOm^
««:
».-•
ap;
•»:
—
MMa
CO
OOp?
«!0§O
OCoO
ooo?
tcoo'-?
toobOcib
6606
COC^o
Kit.g oco o >0^ J*
l-16c.
l-16c.
of igC.
j
o
I
CO
8 ^1
;
UPLANDS.
00
s
t
m
Sat.
^ KM >
S
oes.-''
caused a sharp advance, the next crop
partially improving and closing slightly dearer.
To-day the
opening was generally lower a smart advance for this crop
followed, but in the last hour there was a fresh decline, and
the close was easy at a material reduction from yesterday's
close, with Liverpool accounts dull and crop reports very
favorable. Cotton on the spot has been quiet, either for
export or home use. Quotations were reduced J^c. on S.atur-
-vlv\'^l'>
July 21.
iS
i
OS:'
•
«
•
00
it
—
.*
WIO
-IX
;
—
f'^h
-
;
day and
day and
^1'^
:
1.331
weelc has been one of considerable excitement in
the spiH'iiIation in cotton for future delivery at this market.
The fluctuations have been unusu.ally wide, and the dealings
quite large. There was great depression on .Saturday and
Iionday. under the very favorable crop accounts and great
depression at Liverpool; one failure occurred on the "long"
side of the markot but on Tuesday and Wednesday there
was a feverish and irregular advance a heavy demand arose
to cover contracts for this crop, owing to the very small
etocks, while speculative confidence revived in the next crop,
owing to the low figures to which prices had fallen and the
-contingencies to which it is still exposed. At the close of
Wednesday the recovery from the close of Alonday was 47
points for this crop, 31 points for September and 1TC(?'.21
points for tiie next crop. Yesterday the opening was at an
irregular decline, but toward the close it became apparent
that there was a large "short interest"
this crop, and the
to cover
IK
i
i|i^ iBig i|:^ ijir i|:? i|iS
1.2.Mi
Non.<.
None.
Nono.
2,400
\y.\»t
demand
105
I
11:
I
I
I
I
l«:
<»f
IS§
I
M
I
:
1!
I
I
«:
I
I:
I
I
^1
l«:
I
I:
* Inoludex Bales In Beptemlier, 1884, forSpptombcr, 15S.200: SeptemberOotober, lor October, 421,800; Septiiiulicr-XoTeniiwr. for Norember582,200; Septemlwr-Deoember, for Ocoeiiilior. i>(>7.,S0O; SontemberJanuary, for Jiiniiary, 2.114.11X1; SepHMiiber-Fehnmrv, for February.
1,959,200; Scptcmbcr-Mnreli. for Man li. 2.2!li.lon; .Supfnni iior-Aprfl
for April. l,7a8..")'M>: 8rpu'mber-.May, for ilay. 1,87S,500; SdptemberJuno. for Juno. 1.800,700
We uav6 luciuded In the above table, and ahall eontlnoe esoh
we?it to ittvp, the averaKe price of futures each day for each month. It
»!'
under each dav following the ablireriatlon " Aver." The
f»'^
ioh month for the week ts also ,;]vt>i) at bottom of ritble.
Orders—fiatiirtlay, lOiOc; Moiidnr. 9 a.^o.; Tuesday,
loo .!.; ».>.ine*day. lO'SOc; Thursday. lOlOo.; Friday, 10-3Oo.
Short Notices for .Iiilj— Friday, 10-29c.
t^
'.
:
The following exchanges have been made during the week:
•33
p<l. to oxch. .100 .Tan. for April.
'09pd. toexob. 100 Jan. lorSept.
I
|
01
jxl.
to exch.
500 Sept
for Feb.
—
J
3
..
-.
:
THE CHRONICLE.
103
bales less than at the
cable
Thi Visible Supply of Cotton to-night, as made up byweU
as
21,000
Btookat Loudon
808,500
.^'S"*'
54,000
9,000
10,000
3,400
210,000
6,000
70,000
11,000
13,000
999,700
3,800
48,700
31,000
2,300
8.500
127,000
9,900
71,000
18.000
14,000
350,100
139,700
337,200
2 18,200
802,000
4.300
43,800
43,000
885,000
6,200
69,200
50,000
*00
,„, 900
900
Total Great Britain stock
Stock at Hamliurg
Block at Bremen
8t«ck at Auistirdam
Stock at Rotterdam
Stock at Antwerp
Stock at Havre
-Stock at .MareelUes
Stock at Barcelona
Stock at Uenoa
Stock at Trieste
181,000
<
lotal Continental Stocks
955,000
14,700
2,60u
21,800
13.800
1.900
1.300
135,000
1.100
Week ending
July 21.
Galveston
New Orleans.
Mobile
Savannah
Total European stocks.... 1.1 52, 00 1,324,700 1,336,900 1,026,700
322,000
21.=>,000
265,000
India cotton afloat for Emope. 101,000
62,000
69,000
56,000
09,000
Amer'n cotfn afloat for Eur'pe
21,000
18,000
32,000
1.000
Eg}-pt,Brazil,&c..aHt for E'r'pe
1H9,3I1
322,022
235,605
Stock in United States ports .. 223,132
23,011
53,033
21,0.83
19,241
Stock in U. 8. interior towns..
3,110
110
200
9,000
United States exports to-day.
4
1,555,973 1.905,388 2,064,365 1,657,155
Total visible supply
231,000
56,000
223,132
American afloat for Europe...
United States stock
United States interior stocks..
19,211
258,000
14.700
126,200
265.000
18,000
310,000
711,900
162,400
790,700
1,093,573 1,111,688 1,352,165
868,700
788,155
BrazU,ifec., afloat
<feo
199,311
23,011
3 ,100
•Continental stocks
India afloat for Europe
Total East India,
TotalAmerioan
»)2,(XI0
788,155
318.000
53,000
172.700
215,000
32,000
7
2.500
11:1.200
322,000
21,000
1,555,973 1,905,388 2,064.365 1,657,155
Total visible supply
7ii«rt.
e^d.
b^^^A.
S^ud.
Price Mid. UpL, Liverpool
12760.
10%3.
lie.
10c.
frice Mid. Ui)l., New York....
fSg" The impoits into Continental ports this week have been
22,000 bales.
The above figures indicate a decrease in the cotton in sight
to-night of !i49,415 bales as compared with the same date of
1884, a decrease of 508,393 bales as compared with the corresponding date cf 1883 and a decrease of 121,183 bales as
«ompared with 1882.
At ihk Inteeiok Towns the movement that is the receipt^
tor the week and since Sept. 1, the shipments for the week, i n
"the stocks to-night, and the same items for the corresponding:
—
i
period of 1883-84
=
i
g g
»
B
a
—C
CB .^
—
is
set
out in detail in the following stateme nt
- cf
g
II Illy
OS- !«)„?>
or
O,
,
1^
W
•
•
,
X x
.
a
E3
•
.
receipts at
OM)81NO QCOTATIONS FOR MIDDLISO COTTON
ON—
Salur.
If071.
Tuts.
Wednes.
Thurs.
Fri.
B'S
9 '8
9'8
O'S
O'^s
9'8
9%
9\
9%
9!tl
9"16
91316
9%
9^
g's
9H
9^
9%
9%
9!ll
9%
9\
9!!l
9l3iB
10
10 "4
10
10
10
1038
1013
1038
10
10
10
10
1014
10"4
IOI4
Norfolk
10
10
Boston
Baltimore
Itiia
1038
10>«
PliUadelphla.
lOiSs
10>4
979
1038
10 >s
IOI3
10>fl
lO-a
lOiSs
Augusta
10
Memphis
10
10
10
8t.
Louis...
Cincinnati
IOI4
IOI4
10
10
10
10
10
10
10
10
10
1014
10i«
1014
lOig
1014
lOifi
Louisville.
lOis
1018
IO14
.
Wilmington
..
10^8
10 <a
10
10
9''9
1038
lOH
10
1014
10 »1
lOXiaag
10
lOH
Amount of Cotton in Sight July 21.— In the table below
we give the receipts from plantations in another form, and add
to them the net overland movement to July 1, and also the
takings by Southern spinners to the same date, so as to give
amount of cotton now in sight.
126,000
75,000
1,093,573 1,111,683 1,352,465
217,000
21.000
119,400
101,000
1,000
The
substantially the
110
200
^Jnlted States exports to-day..
Total American
Bast Indian. Brazil, die—
ClveriKwl stock
:tondon8tock
697,000
211,000
69,000
322,022
53,033
511,000
267,000
68,000
235.605
21,083
9,000
,'.61.000
bales
LlvrrpTOl"rtock
Continental stocks
t
.
.
Charleston
22,000
12,100
6,600
OUhe above, the totals of Amei-icau and other descriptions are as foUo w
last year.
m
1832.
736,000
72,500
1833.
1884.
832,000
53,000
7'<l,000
bales.
same period
XLI.
towns have been 1,699 bales more than tne same
week last year, and since SaDtember 1 the receipts at all the
1883-84.
towns are 3^5,915 bales less than for the same time
Quotations for Middling Cotton at Other Markets.—
middling
In the table below we give the closing quotations of
for each
cotton at Southern and other principal cotton markets
day of the past week.
telegrapli, ia aa foUowa. The Continental stocks, as
returns,
those for Great Britain and the afloat, are this week's
and consequently all the Eiu-opean figures are brought dowr
complete
to Thursday evening. But to make the totals the
from
figures for to-night (July 34), we add the item of exports
oniy.
the United States, including in it the exports of Friday
fltook at Liverpool
[Vol,.
the same
and
Egypt,
.
1884-83.
1883-84.
1831-82.
1882-83.
Receipts at the ports to July 21 4,721,3 25 4,801,184 5,933,490'4,654,991
Interior stocks on July 21 lu
17,119
•24,026
5,085
excess of September 1
Tot. receipts from planta'tns 1,726,410 1,777,158 5,978,631 l,6:i7.812
605,566 573,605 637.698 161,336
Net overlauil to July 1
2bl,0o0 292,000 318,000 229,000
Southern consumpt'n to July 1
5,592,976 5,613,063 6,931,332 5,331,178
Total in sight July 24
Northern spinners' takings to
|l.311,7G9 1,.531,810 1,697.662 1,584,911
July 24
Decrease from September
*
1.
^
,
,.*
It wiU be seen by the above that the decrease lu amount In Kl?nt
to-niRht, as coiupareil with last year, is 50.087 bales, the decrease
from 1882-83 is 1,341,355 bales and the increase over 1881-i2 is
.
261.798 bales.
Weather Reports by Telegraph.- In general the weather
at the South during the week has been all that could be desired
for the satisfactory development of the cotton plant. The
outlook in Texas is especially gratifying.
Galveston, Texas.— "We liave had rain on two days of the
week. On Wednesday one bale of new cotton was received
at Houston from DeWitt County, and on Thursday one
reached Galveston from Victoria County. Tlie thermometer
has averaged 85. ranging from 76 to 95.
Indianola, l'e.vas.—The weather has been warm and dry
the week. Crops are fine. The thermometer ha.s ranged
from 73 to 94, averaging 83.
Palestine, Texas.— ^Ve have had warm and dry weather all
the week. Crops are very promising. A good shower desirable but nothing is suffering.
Huntsville, Texas.— The weather has been warm and dry
The cotton plant looks strong and healthy.
all the week.
The thermometer has averaged 85, the highest being 95 and
all
the lowest 74.
have had dry and warm weather all
Lulinff, Texas.—
the week. The crop develops finely and is opening fast.
Two new bales have gone forward this week, and picking will
regularly begin within a fortnight. The thermometer has
We
a;
li *>
-IO^-•
85, ranging from 74 to 95.
Columbia, Texas.—The weather has been warm and dry
all the week. Cotton looks very promising. The thermometer
has ranged from 74 to 92, averaging 83.
Brenham, Texas. Warm and dry weather all the week.
Crops excellent. Average thermometer 83, highest 99 and
averaged
« to —
CJi
M
tOtO
CO
'-'
CO '-'
M
1^
^
'(£Jc'«t-w'^ w''-'
o«
wo
« a. c :c
CC CO
tC (^
OJ
C-i (-.
—
CCH-tCr-t-'fr--qOSC5Ctf-JWO-CC-. wiiii((*0
lowest 64.
Belton, Texas.— There has been no rain all the week, the
The
weather being waim and dry. Splendid prospects.
thermometer has averaged 80, the highest being 100 and the
lowest 55.
Weatherford, Texas.— V^^e have had warm and dry weather
The cotton plant
all the week and all that could be desired.
looks strong and healthy and has made amazing progress sitice
the rains ceased. The thermometer has averaged 77, ranging
1
C5*r;
co^.
CO
!
CO
=
to
o M
V:
w»
08
i-'Oi'^'SCitOlO
COCtf^Ctf^^M
tCCCtOC:OXM
MM
t:toco;
from
^11
W
COCO
M
cc^-^ii^tocccoioo
M
lU
I-
1^
i^-0'*woiOo»oaco
pp tcjD 01*^0; ®o^ O cc as ^ c« m — o
*-•
ranged from 6S to
1:-
MCI
WO
COCO
CO -l
tt)'
X C. M
a
»-
-vj H" -^ -o
OS 1^
O* '^ tS Z^ to Q. fk.
C5 -J -J (-• Ot (0 CO
103, averaging 86.
Orleans. Louisiana.— It has rained on four days of
the week, the rainfall reaching two inches and eighteen hundredths. The thermometer has averaged 84.
Shreveport, Louisiana. Rainfall for the week fifty hundredths of an inch. Average thermometer 84, highest 99 and
lowes 75.
Meridian, Mississippi. Telegram not received.
have had rain on two days of
Columbus, Mississippi.
the week, th'? rainfall reacliing one inch and nineteen liundredths. The crop is developing promisingly. The thermometer has ranged from 70 10 97, av. ragmg 84.
Leland, Mississippi. Rain h.is fallen on four days of the
week, the rainfall reaching two inches and twenty-one hun-
New
c:xc;iK.i(-xtootDWcitca'~iro:ctOii-io
•'itoMos^-: t-;
51 to 97:
Dallas, Texas.— The weather has been warm and dry all
the week. Crop accounts are more favorable if such is possiIhe thermometer has
ble, but the weather is very hot.
MS-
TUuyear'i Hgares estimated.
The above totals show that the old interior stocks have
•Oecreased durmg the week 1,230 bales, and are to-mght
1,843
—
—
—We
—
.
July
THE CHRONICLR
25, 1888.]
The first rain came with
dredflis.
enst, iiiJnrinK cotton in soino places,
80 0, hii?he»t Ul ami lowest 70.
Averago thermometer
W
lowest 71.
Mobile, Alabama. It has rained on three days of the week,
the rainfall reaching eighty-nine hundredths of an inch. The
crop is developing promisingly. The thermometer has average<I 81, the highest being, 04 and the lowest 08.
Montgomery, Alabama. It has been showery on five days
of the week, the ramfall reaching one inch and forty-one
hundredths. The crop develops finely, and the plant looks
strong ami healthy. The thermometer h.is averaged 81 -0.
Belma, Alabama.— It has rained on two days during the
week, the niinfall reaching eighty-seven hundredths of an
inch. Crop accounts the same as last report. The thermometer hiis averaged 81.
Auburn, Alabama. Telegram not received.
Madison, Florida.— We have had rain on every day of the
week, the rainfall reaching three inches and sixty hundredths.
The thermometer has averaged 83, the highest being 91 and
the lowest 75.
Macon, Oeorfjia. It ha.s rained on two days of the week.
Crop accounts are favorable.
Columbus, Georgia. Telegram not received.
Savannah, Georgia. It has rained on three days and the
ramaindor of t)ie week has been pleasant but warm. The
rainfall reached ninety-one hundreiiths of an inch.
Average
thermometer 83, highest 94, lowest 73.
been
dry
Augu,sta, Georgia. The weather has
and very
warm during t\^e week, the rainfall reaching but nine hundredths of an inch. The crop promises well; accounts good.
The thermometer has averaged 78, the highest being 9() and
the lowest 69.
Atlanta, Georgia. It has rained on one day of the week,
the rainfall reaching four hundredths of an inch. Weather
very dry. The thermometer has averaged 80, ranging from
88 to 91.
Charle.fton, South Carolina. We have had rain on four
days of the week, the rainfall reaching four inches and six
hundredths. The thermometer has ranged from 73 to 93,
averaging 80.
Statebnrg, South Carolina.— It has rained heavily on one
day and lightly on two days of the week, the rainfall reaching
one inch and seventy hundredths.
The thermometer has
averaged 78-1, the highest being 91 and the lowest 70.
Wilson, North Carolina. It has rained on one day of the
week, the rainfall reaching forty-eight hundredths of an
incli.
The thermometer has averaged 85, rangine from 72
93,
Oreat
OonMn*HL
1
Britain.
(!'.).
—
107
—
—
—
—
—
—
23, 1885,
and July
21, 1*S4.
8T,ftO0
•-•>
18rt5
1884
New
Ful.
Below IilRli- water mark
6
Above low-water uiark. 13
Orleans
Meni|>lil»
Nanin ille
Aliove low-wiitcr ludik.
.-,Abov»s low-water-maik.
Above low-water-iuark.
Shreveport...
Vlcksburg
New
'85.
lnc)i.
July
2.
Feet.
Ineh.
9
7
5
8
It
9
2
H
2
1
19
4
4
9
22
4
10
26
mark of 18T1 until
was changed to highwater mark of April 15 and 16, 1874, which is 8-lOths of a foot
above 1871, or 16 feet above low water mark at that point,
Sept,
Orleans reported below high-water
9,
1874,
when
tlie
zero of gauge
India Cotton Movesiknt from aij. Ports,— The receipts
and shipments of cotton at Bombay have been as follows for
the week and year, bringing the figures down to July 23.
BOXBAT aECEIPTS AKD SHIPMENTS FOR FOUR TEARS.
\ShipmenU
Tear, Orent
\
Bril'n.
1.000
IHHll 8,000
1883, l,ou0
18821 9.O0O
thii
Conlineiit.
wreK-.
:
ShipmenU
rinee Jan.
Oreat
Oonti„, ,
Tolal. Briluin] nent.
,
1,000 20!).ov) is.i.oon
I88r.(
I.
1
Total.
6(54.000
2,000 lCi,0i)O ITti.llOd .^si.DiM) l.OOO.dOO
3,000 I22,0ij0 75t),ooo 1.17-',0tM)
5,000|14,000|705,000!570.000 1,275,000
2,0:Kii
Since
Jan
6l>,40O-
12s,7lM
•
4,000-
•>••
17,500
i.eoo
19, loo
1885
1884
100
100
21,700
lu,500
21,500
9.200
49,20a
1 9,700
103
100
83,100
115,500
39.500
52.000
122.60O
167,50©
Total all-
was
1884
The above
totals for the
week show that the movement from
is 100 bales more than same
Bombay
the ports other than
week last year. For the whole of India, therefore, the total
shipments since January 1, 1885, and for the corresiwnding
penods of the two previous years, are as follows:
BZPORT8 TO KDBOPB PROM ALL IKUIA.
1883.
1883.
1884.
Sti'vmentt
TkU
Suropt
from —
to all
Jan.
wee*.
Bombay
Jan.
wee/e.
I.
mnt»
Since
Jan.
leeeAc.
1.
1.
100
664,000
122,600
10,000,1,060,000
167,500
3,000 1,17H.000
1,500{ 103 lOO
i.ioo
786,600
10,00011.227,500
4..'>00ll,2sl.l0O
1,000
All other porta.
Total
ThU
Knee
1
This last statement affords a very interesting comparison of
the total movement for the three years at all India ports.
Alexandria Receipts and Shipmesjts.— Through arrangea
ments we have made with Messrs. Da vies, Benachi & Co., of
Liverpool and Alexandria, we now receive a weekly cable of
the movements of cotton at Alexandria, Egypt. The following
are the receipts and shipments for the past week and for the
orresponding week of the previous two years.
Atexandria, Egypt,
July 22
1882-8S.
1883-81.
1884-85.
BeoelptB (cantars*)—
Tblg week
Btnce Sept. 1
3,613.000
I
2,254.000
2,641.000
i
Thit
Binee
week, \8ept. 1.
ThiM
Since
week. Sept. 1.
I
Tkit
Since
veek. Sept. I.
Exports (balee)1,000 2.S2,000
1,000 139,000!
1.000 239 ,000«
...i500,000!l 2,000'391,000'
2,00Oi328,O0O-
lolilverpool..
299,000
To Oontluent
201,000;
Total Europe..
1.0001
S9,00O
A oaDtar Is 98 lbs.
This statement shows that the receipts for the week ending
cantars and the shipments to all Europe
July 23 were
•
bales.
Manchester Market.
—Our report received from Mancheste r
to-night states that the
prices for to-day below,
market is hardening. We give the
and leave previous weeks' prices for
comparison.
1884,
1883.
8i« U>*.
Bkirtingt.
82( Oop.
lv>i$(.
A.
d.
••
3
\1%
d.
5
5
R.
d
«tf
9
Holiday
29
June.'iiS
"
aS'm
».
5
»H9i« 5
'SSSif,
5
July 3i7''8 •3'87i« i5
" 10 715189814 !5
" 17 8
«8»a ;5
" 24!3'a a*"]. 5
596 9
96 9
Ootfn
Mid.
Upl It
d
Sill
-96\\
8%
8\
9^
hH
SOg
•I.
».
d.
8.
9 9>4 5 fci2»7
9 9>4 5 Siaa?
« 9»4 5 B^97
« SW5 e^97
» 9'eS 7««97
5=8
S^ »
5
«6 11
aeii
as 11
«6 11
6
•»?
59,«
809
&°8
8»«
8»9
5
5
Ibe.
Skirlingt.
Iwitt.
a.
516,6
516,«
BH
32< Oop.
9>9 5
«
9 9»85
9 gi8i5
* 9W5
7
7
7
7
7
«7
97
97
97
97
d.
3
Ootfn
Mid.
VpU^
d.
e«i«
3
6%
3
63g
67,»
II9
1
6%
1
1
65 1»
1
63i»
6I4
6I4
1
1
6°,
The FiF.ST Bale of New Cotton.—Mr. George W. Kidd, of
the Houston vTexas) Cotton Exchange, telegraphs us that the
first bale of new cotton thjs year was received in that city
from DeWitt County on Wednesday, July 23. It classed
middling, and weighed 570 lbs. Our Galveston correspondent
also telegraphs to the same effect, and states further that on
the following day (July 23) a bale was received at Galveston
from Victoria County. Last year the first bale reached Uouaton on the same date (July 22), ami also classed middling. The
date of first arrival In 1883 was July 8. Galveston received
her first bale last year on July 33, and in 1883 on July 16.
—
Seceipls.
ThUi
Wieh.
4,0'>0
,
" I«t71l,.-S7i« '5 5
" 26i7n,« 87,3 5 5
July 23,
18.000
41,200
51.400
AU otiien—
May22
also received by telegraph,
riiowing the height of the rivers at the points named at 3 o'clock
toUU,
lI»<1rB»-
—
The following statement we have
..
JlriMn.
•
—
to 98.
_
9r*al
TokU.
U«loatt»—
1885
1884
—
—
SMpmtnU line* Jm¥umTi 1.
Bhipmenlt/or tk* »tck.
a hard wind from N'orth-
JAUle Rook, Arkan.ian.—tuXeKnm not received.
Last week wuh hot, with a fair amount of rain in tin' snrThe rainroiindin;; country but only om< li^ht shower here.
Average thermomfall ri'iiched three hundredths of an inch.
The previous week we had
eter ay, hiRhest 01 and lowest
rain on two days with a rainfiill of forty-three hundredths of
an inch. Average thermometer 7U, highest IH and loweHt 07.
Helena, Arkansas.— It has rained on three days and the
remainder of the week has been cloudy. The rainfall rcaclic I
one inch and eleven hundredths. The cotton crop is dcvilo|iCorn is abundant. The thermometer li;ia
ing promisingly.
averaged 8'2. ranging from 7:t to !>'3.
Memphis, Tennessee. Telegram not received.
Nashville, Tennessee.— fihnve had no rain all the wr. Ic.
Tlie crop develops finely. Average thermometer 83, higlu .^t
July
6
1
1.
2,000 971,000
5.UO0 1,514,000
2.0<IO 1,522,000
7,0OU 1,565,000
According to the foregoing, Bombay appears to show a
decrease compared with last year in the week's receipts of
8,000 bales, and a (Increase in shipments of 9,000 bales, and
the shipments since January 1 shew a decrease of 308,000 bales,
The movement at Calcutta Madras and other India ports for
the last reported week and since the Ist of January, for two
years, has been as follows.
"Other ports" cover Ceylon,
Tuticorin. Kurrachee and Coconada,
East India Crop Prospects. Our cable from Bombay today states that rain has fallen in almost all sections during the
week. Crop accounts are favorable in the Berars. In portions
of Guzerat sowing has been commenced under most favorable
conditions.
Does Neglect to put up Margin Authorize Sale of Cot-
—
An article on this subject will be found in our editorial
columns, which may be of interest to the trade.
Jute Butts, Baooino, &c. The m.orket has been quiteton.
—
active for bagging, and trade is becoming more satisfjiotory.
The deviand for large jjarcels has been rather less active, but
small orders are coming to hand steadily, and considerable
stock is being taken. Prices are firm and sellers are not willing to accept anything below the quoted figures, which are 9c.
for 1»^ lb,, O'^c. for \% lb., 10>ic. for 3 lb, and He. for stand-
....
THE CHRONICLE.
108
much improvement in the
transactions have been closed.
few parcels have found buyers, 1,500 bales being taken on the
basis of l%@lj^c, and some small lots at 2@2>^c. At the
close bagging qualities are quoted at 2(a2}^c. and paper grades
at lj5i@2c. as to quantity.
SmppiNG News. The exports of cotton from the United
States the past week, as per latest mail returns, have reached
So far as the Southern ports are concerned, these
10,404: bales.
are the same exports reported by telegraph, and published in
With regard to New York we
the Chkonicle last Friday.
include the manifests of all vessels cleared up to Thursday
night of this week,
Butts do not show
ard grades.
A
demand and few important
—
ToM bales.
Kew York—To Liverpool, per steamers Botlinia, 830
City of
950
466
Chester, 20.. ..Plato, 100
To Hull, perste.araer Galileo,
466
To Havre, per steamer Auierifiue. l,4til
Gen. Werder, 590...
To Bremen, per steamers Killer, 604
To Hamburj.', per steamer Lessiug. 198
To Antwerji, per steamer Piniiland, 748
To CopeiiliHKen, per steamer Island, 300
Hew
Total
198
748
300
2,826
987
554
97
50
573
10,404
-.
particulars of these shipments, arranged in our usual
form, are as follows:
Anl-
Bremen werp
Liter-
<t
Ham-
Copen- Vera
554
97
573
Boston
PMladelp'a
466
1.392
1.461
554
147
573
50 10,401
937
1,018
the latest dates:
Hew Orleans— For Liverpool—July 22— Steamer Chancellor, 1,187.
For Bremen— July 22— Slnp'Hermann, 289.
BALTIMORE— For Liverpool— Julv 16-8teamerSerra, 579.
PuiLADELriiiA—For Liverpool— July 21— Steamer Lord Gougb, 676.
Cotton freights the past week have been as follows:
Do
Satur.
Mon.
Tue*.
832*
Ki*
^64*
il.
Wednea.
Thur$.
Fn.
Bfli*
saii...(i.
Havre, steam
Do
832'
e.
»32*
»32*
sail
%*
Bremen, steam.. c.
Do
sail
e.
Hamburg, steam.o.
Do
sail
»32*
*32*
»3a*
"32
'61-''S2
>3e4-''32'
e.
Amst'd'm, steam.e.
Do
Do
d. i3g4-732«
sail
lSei-733'
Barcelona,steara.e.
*32*
^32^
'is*
ff**
Antwen>, Rteam..c.
* Uompreesed.
932*
l8"
^s*
JulU
week
bales.
Of whl'h exporters took
Of which si>cculator8 took..
Bales .American
Actual export
Forwarded
,,
Total eUK'k— Estimated
Of which American— Estlm'd
Total Import of the week
Of which American
afioat
Of whieli American
3.
July
10.
45,000
40,000
3,500
2,000
800
1,000
36,000
30,000
5,600
5,000
15,200
17,000
868,000 .825,000
641,000 607,000
16,00n
15,000
13.000
11,000
80,000
81,000
27,000
30,000
July 17
47,000
4,000
1,000
37,000
7,000
7,000
812,000
583,000
42,000
17,000
73,000
22,000
July 21.
43,000
3,000
1,000
35.000
4,000
6,000
781,000
561,000
17,000
17,000
50,000
16,000
The tone of the Liverpool market for spots and futures each
day of the week ending July 24, and the daily closing prices
of spot cotton, have been as follows:
Market,
13:30 p..JC.J
Hid. Unl'ds
Hid. OrVns.
Bales
pec.&exp.
BaturOay Jfomlay. Tuttday
Freely
In bnyers
BniaU
ofTored.
favor.
inquiry.
51J1
Wednet. Thurtd'y.
Friday.
Quota'tns .« ,... «
In buyers
fullv
fully
tendOQcy,
favor.
maint'ued
5i«
5»8
5»8
Rarden'K
5»ie
5»1«
5,000
7,000
5,000
500
10.000
500
500
10,000
8,000
1,000
1,000
600
Qnlet.
Basy.
5>a
Hiture*.
rem.
Steadr at
Market,
f>t,
\
de12:30 P'•"•5 l-m
cline.
Market,
4 p. M.
Quiet
bDt
stead T.
The opeiJng,
a.
d.
d.
d.
d.
a.
d.
d.
5 29
6 29
5 30
5 29
5 29
5 27
5 27
5 27
5 27
5 26
5 86
5 27
5 27
5 26
5 31
5 27
581
6 28
5 27
5 26
5 26
6 28
5 30
528 5 27 627
525 5 24 5 24
5 26
5 26
5 27
6 28
5 28
5 88
530
5 26
5 26
5 26
525
524 5 24 5 22
624 5 24 6 22
5 26
5 28
5 27
5 28
5 24
5 28
5 23
5 89 5 29
July
July-Aug... 5 89 5 29
Aug.-Sept... 6 30 5 30
5 81 5 31
3ept.-Oot.
0Ct.-N0T... 5 27 527
5 26 5 26
Nov.-Deo.
Dec-Jan.... 5 26 5 26
Jan.-Feb... 5 88 5 28
.
.
Feb.-March 5 30
5 30
5 26
5 26
5 28
5 30
5 26
5 28
Open High Low.
d.
6 34
July- Aug. . 6 84
AuK.-8ept... 5 34
3ept.-0ct... 686
Oot.-Nov~.. 5 31
Nov.-Deo... 5 30
Dec- Jan ... 5 30
Jan.-Feb.... 5 32
Feb.. March. 534
July
Clos.
5 20
6 28
Clos,
5 24
5 28
Open Hijh Low. Oos.
5 22
5 24
5 20
6 23
6 23
5 25
5 28
d.
d.
d.
d.
d.
d.
6 34
6 34
5 37
5 37
5 35
5 34
5 33
5 33
5 33
586
5 36
5 81
5 37
5 37
5 37
5 38
5 32
5 37
5 34
6 34
5 34
5 35
5 36
5 82
6 31
5S7
5 34
531
5 31
5 81
5 33
533
536 534 5 36
5 35
5 31
5 33
6 30
5 32
d
6 2»
52»
sua530-
52d
525
625
5 23
527
5 28
6 30
July 24.
Op«n Hish Low. dot. Open High Low.
«.
680
5 25
5 25
5 87
6 30
Frl.,
d.
5 32
5 31
520
5 30
524 5 26
5 23
Thure., July 23.
Wednes.. Jiily2'2.
6 87
5 37
5 39
5 32
5 31
6 31
5 33
6 35
5 37
5 37
6 37
588 63S
5 32
5
5
5
5
31
6 32
6 31
81
83
85
6 31
5 83
5 35
Cloa
d.
d.
584
528
6 33
5 83
5 34
5 28
5 27
5 27
6 29
5 81
5 27
5 27
5 20
5 31
B3t
5 31
5 31
5 31
5 31
5 82
581
6 82
5 27
527
6 26
6 26
5 26
5 29-
528
628
5 30
ssa
BRE ADSTU F FS.
Fkidat, p. M.. July 24, 1885.
The
market has continued wholly without feature calling for especial reference. The intensely hot weather has
limited the demand to the more pressing needs of dealers and
shippers, causing them at the same time to give preference to
fresh ground lots, while the weaker turn to wheat has caused
flour
of flour to show a disposition to sell promptly; yet
there is scarcely a change in quotations, and the volume of
business has hardly relieved the market from the appearance
of stagnation.
The wheat market has been variable. The speculation has
been fairly active. The market was stronge* early in the
liolders
week, and on Monday a moderate advance took place, favored
by the stronger foreign advices; but it was not sustained, and
on Tuesday and Wednesday sliglit declines took place in sympathy with Western and foreign markets. Yesterday, however, an earl3' decline was followed by a recovery and rather
more steadiness. To-day the speculation was dull and the
close slightly easier. Wheat on the spot lias been generally
dull and weak, and it was said on Wednesday that the limits
of export orders were reduced, putting an almost entire stop
to business. To-day the market was quite dull but about
October delivery
We
Bpol.
Cl09
<t.
July delivery
LivEKPOOU—By cable from Liverpool, we have the following
statement of the week's sales, stocks, &c., at that port.
add previous weeks for comparison.
Amount
Low.
d.
August delivery
September delivery
c.
rieste, steam... c.
Bales of the
RiQli
d.
'.21.
DAILY CLOBDtO PRICES OF NO. 2 RED WINTER WHEAT.
Sat.
Wed. Thurs.
Mon. Tues.
In elevator
100
101
lOlSt lOlifl 100
e
Genoa, steam
Open High Low.
Toes., July
steady.
8ail...c.
Beval, steam
meanp
5 62
Open
5,317
3,813
Below we add the clearances this week of vessels carrying
ootton from United States ports, bringing our data down to
Liverpool, steam
Mon., July 20.
Sat. Jiilyl8.
Total.
50
5.000
Total...
Giths, thus:
Tar-
987
2,826
Baltimore..
^p" The pntes are given in pence and
and 6 03 means 6 3-64(f
it
Hull. Bavre. burg. Imgcn. Orvz. month.
466 l,4(jl 1,392 1,018
vool.
"950
New Tork.
N. Orleans.
[Vou XLI.
5 62-64(J.,
1,461
1,194
Ohlean9-^To Liverpool, per steamer Alice, 2,826
To Vera Cruz, per steamer Ivstabau de Autiuiano, 987
Baltimoke— To Liverpool, per steamer Hftiioverian, 554
Boston— To Liverpool, per steamers Kansas. 50...:Pavoma, 47
To Yarmoutli, N. S., per steamer Aiplia, 50
Phiiadbuuia—To LlveiTjool, per steamer British Prince, 573..
The
'
.
steady at
2-64 ad-
Unsettled
Steady.
Steady.
Weak.
vance.
Weak.
Finn.
Steady.
highest, lowest and closmg prices of futures
at
Ijverpool for each day of the week are given below.
These
I«1ceg are on the basis of Uplands, Low MiddUng clause,
unless
otherwise stated.
10li«
1033t
105!^
101:%
10219
104 19
10618
108
lOOiy
101 14
IO314
IOOI3
105 14
104 "4
52 "a
52
5134
51
511a
Fri^
9S138
1024
looie
10214
1043$
9978
102
104
lOGig
November delivery
107%
106% lOSTg.
1071s
December delivery
108
107%
109 "8 108 ^S 108
Indian corn has continued to move in sympathy with
wheat, with the speculative selling for a decline at times
quite free but on Thursday the low figures to which price*
had declined, and a renewal ofj.adverse reports from the growing crop, caused an upward turn to values. To-day speculative values closed a shade dearer, but business was not active.
Corn on the spot has been taken to a fair extent for export,
but at drooping prices for all Western grades; Soiitnern being
scarce, remained about steady.
To-day there was a firm but
rather quiet market.
DAILY CLOSING PRICES OF NO. 2 MIXED CORK.
Fri.
Sat.
Mon. Tues.
Wed. Thurs.
;
In elevator
Svi^a
July delivery
52i8
Augnst delivery
52 1«
September delivery
5319
October delivery........... SS^s
November deUverj
5218
B258
53 14
5218
52S8
52 »8
51 Sg
521a
53
51%
5112
Sl^s
51^8
5219.
52''8
52-'e
53 14
533^
531a
Oats have at times developed considerable speculative interest, and a decline which took place early in the week front
sympathy with wheat and corn has been patrially recovered,
crop reports being somewhat contradictory. To-day values
were well sustained.
DAILY CLOSINO PRICES OF NO. 2 OATS.
Sat.
Mon, Tuts.
Fri,
Wed.
Thurs.
36i«
35I3
Julydellvery
3?«8
3638
35%
32T8
August delivery
33ia
33»8
32^8
32'8
32%
September delivery
Sl'^g
3133
31°g
31%
31%
SlHi
Rye has been dull and nominal Barley is out of season.
and stocks of barley malt have become reduced.
_
The following are the closing quotations
FLO DR.
ybbl. $2 609 3 50 Sonth'n com. extras.. $4 004
3 00» 3 85 Soathem bakers' and
3 309 4 00
family brands
5 009
Minn, clear and stra't. 4 003 5 00 Rye flonr, superfine.. 4 009
Winter shlpp'g extras. 3 65» 4 00
Fine...
3009
Winter XX & XXX.. 4 25® 5 50 Com mealPatents
4 85» 6 00
Western, &o
3 15»
City snipplugex
3 759 5 00
Brandywlne, <ba.... 3 359
fine
Superfine
Spring wheat extras.
4
8iV
5 65
4 50
3 203 35
3 40'
..
a
.
J0LT
THE CHRONKJLE.
25. 1885.]
print*, (liinnel.s,
•1
01
91
llOl
f»7
8)irliiK.Vii.2
01
«
K«<1 winter, No.
R«<1 winter
99
85
»10.'>
Whlt«
OO
«102
f.3
5l\» 53
Corn— Wimt.
mlx»rt
West. mix. No. 2.
W<"<1. « '<"••
41)
iiuti'in,.!.
.K>\.,
BarleT Malt—
DOMKsTic Cotton Goods.— The exports of cotton goods
for the week ending July 21 were D, ilU packages, of which
1,403 were shipped to Great Britain, 810 to U. 8. of Colombia,
104 to Hayti, i:iO to Chili, 187 to Venezuela, 07 U> Mexico, &o.
The business in staple cotton goods was only moderate,
because the majority of distributers and the manufacturing
trade are pretty well supplied for the present (owing to their unusually large purchase* in May and June, but the tone of the
85
BUto. nlx-rowed .... 80
8tBt«,tworoWB<l.... 70
54
6d
Wis
Wll!
Yull.
liosicrv,
was done by some of the principal llrnis. VahicM havr not
undergone any material change, but there is a firmer uii'lertone in the market for domestic cotton and woolen goods
than for romo time past, owing in a measure to the leaaened
CMiadik.
.S6
ji'aii.f, fiirni.iliiri^; i,'ii'idH,
60 • 68
Btttt« uud OHniula... 71 1» 73
36 • 39
Oata-Mtzed
38 • 43
White
80 9 37 «
No. 2mlxn<»
39>«»
No.2whlto
1* 40 \
Rr»—VMtfim
BprlDK.pAr biMli.
109
0100
« .S5
» 7.5
-rn.
The movement of breadstulTs to market Is indicated in the
•tatementa below, prepared by ua from tlie fl(?urea of the New
York Produce Exohanjte. Wo first give the receipts at Weatorn
lake and river porta, arranRod so aa to present the comparative movement for the week ending July 18 and since Aug. 1
for «vch of the last throe years:
output by the mills,
steatfy, and there was no pressure to sell below
current (luotalions. Print cloths were quiet and easier, sales
of 04i0(s having been made at 3c. less 1 per cent, while some
per
fair-sized lots of 58x60h changed hands at 2 0-16c., less
OcTfk,
Ooti.
Bsrlttf.
R[i:
ITkaat.
n»ur.
Ittct^vU at—
cent— the lowest prices ever reached. Dark prints were fairly
BMl.l Seitw LBwk.«) U» Bufh.SA llM BluKSaOtt BlMh.48Uw|BlwV9<^U» active in some quarters, but buyers are inclined to operate
|i.:iis
B7U.T73
0,:33
i.mo.Tii:
T0,(V13
284.904
CbiOMto
cautiously.
Dreae ginghams were in pretty good demand,
1.1'
4,8(K1
1.075
3l).57s'
2"1,0S«
13»,514
MUwmakee
and largo orders were placed for crinkled seersuckers for
«8,0.S7
000
BS.OSO!
Tolado
4.06SJ
future delivery. Plaid and figured cotton dress goods were
8.0BJ
2.0i7
«s.oon
15.365
Oatrolt
...*"!
distributed with considerable freedom, but at prices which
2.000
TJMO
2.tM\
8«.0OO'
CIsTelanO.
1,328'
favored the buyers, and there was a steady movement ia
SDB.TOO
86.878
ll.OBO
lai.oe?!
Bt-Loula...
144.406
150,680
stajile cotton hosiery.
4.A0O,
8.073
Paoru.
1«,.'571>
1,877
glO.STO
Domestic Woolen Goods—Transactions in men's-wear
Dalatta
woolens were relatively light, but agents continued to make
Ift.iMM
10.0S8
8«3.0il0
!3cl.»«l
l.«»t.2U3
ssa.ooo
Tol.wk.'«6
liberal deliveries of heavy-weight cassimeres, suitings, worsi4.Big|
31,091
08.H.T43'
I.013.B9I
i;S,3Jis|
1.178.100
Sama wk. '84
02.801
1,«08.8S9
20,829
teds, overcoatings, &q., in execution of former orders, and
l,918.0o7
Same wk. "bS
l4t,«IS|
618.070
B(nc* JuJvSS
stocks are in much better shape than for some time past,
g.BOo.sn:!
18S4.5
because many mills have adopted the wise policy of running
1888.4
8,0lI,3Iix;
on orders only, Cloakings, heavy Jersey cloths and stockinisaa-a
S 9,lP5.0fl7i
ettes were in fair but irregular demand, and a moderately
The exports from the several seaboard ports for the week good business was done in ladies' cloths, soft wool suitings,
tricots and other dresa fabrics adapted to the coming season.
ending July 18, 188.'), are shown in the annexed statement
Kentucky jeans and satinets were in moderate request only,
KtporU
Pteu.
Flour.
Oatt.
WHeat.
Oom.
«»».
but desirable makes are more steadily held at ruling rates.
ftvm—
Flannels and blankets continued to move in fair quantities,
BiifK.
BbLi.
BtuK.
BUMh.
Bush.
Buth.
and there was a better demand for shawls and skirts in some
61,6^6
73,149
16,935
3,745
We w York 49D,3flG 47C.007
quarters. Worsted dress goods of the better grades have met
2-1,206
f.O
Boston.
120.783
8.030
49,67t>
Montreal.
o.nb
58.873
87,518 with a fair share of attention, but low-priced fabrics ruled
231,79!)
PUiladuI,.
l.">,COO
130.423
7,701
1,315
Wool and merino hosiery met with fairly liberal sales,
quiet.
BnUim'rv
42,780
4,498
77,262
and a moderate business was done in fine knit underwear and
Riclim'il
fancy knit woolen?.
......
N, Orl-us.
30.478
02
N. News.
Foreign Dry Goods were rather more active in the bands
importers, British and Continental dress goods in particuroUlwTt. 835,037 850,147 110,371 133,397
16,935
91,263 of
Silks, velvets
lar having met with a very fair distribution.
8'me time
152.433 332,.544
77.393 and velveteens have also received considerable attention, and
1884. .. 1.142,67611,078.711
65,315
woolens. For linen
The visible supply of grain, comprising the stocks in granary there was a fair movement in men's-wearthe demand was only
and white goods, laces anil embroiieries,
at the principal points of accumulation at lake and seaboard
hosiery aad fabric gloves were in pretty good
ports, and in transit by rail and water, July 18, 1885, was a moderate, but
request.
rollows:
Wheat,
BarUj/,
Xye
Com,
Oals,
Importations of Dry Good*.
bush.
In store at —
bush.
bu»h.
busK.
bush.
Tlie importations of dry goods at this port for the week
0.778
Now York
4,602,721 1.083.570 823,262
8.591 ending July 23, 188.5, and since January 1, and the same facta
Du alloat (eat.)
241.981
6,il.I60
Albany
5.000 for the corresponding periods are as follows:
500
2.500
17,000
1,000
market ruled
%
.
111
.
.
.
.
.
1
i
.
1
Bnflalo
3,005.024
14,893,435
7,557
Va..
89.353
.
3,299.506
Uulutli....
.
2,831.904
829,650
Toledo ...
Detroit....
364,622
Oswi'un...
126,810
8t. I><iuirt..
.
1,043,233
rilicii!:i 'ti (12th)
78,010
56.300
ID ...
197,529
nth)..
501,742
P!illailc.;,>lila
050,441
Peorlii
3,402
Indlanai»oli9
70,205
KansuH (;ity
698,309
Brtltluiore
1,367,785
.
Clilcairn
.
^
N" .^
DowL Mieaissippl.
On rail
On lake
On
canal
Tot. July 18,"85.
Tot. .TiUv 1 1 .'R.-).
'lot.
T
66,513
824,792
25,133
393,121
102.319
1,000
2,810
9.30J
442.339
392,601
815,164
7,.'472
21,430
13,639
22,025
182.499
447.550
34,631
83,011
H
8.4ci6
29',369
C24.46.i
29.70.)
31,007
13,69i
17,542
440,974
19,833
14.519
g;
429
65,000
1,283
27,000
14,090
17,485
13,710
4.671
7,142
6,091
456
s;
P;
£ g
I
UN
s;
00
772
K>
-4
6,110
i
507
o a t3 -J
'-O
I— M » CJ
O
i^rotSMO
if
O to
ODn-OCSf*
-5.
oblowV
lo ^ ;£ to 9
ca»*-aoco
£1
4,463 5,304
9,707
10,753
11.400
548.590
27,947
i
s
751
7,671
'X>
CO o<
03 •» tS
00
li'.oV'i
10,."i.'iii
15,9;»5
CO
7,050,020 2.962,373
3T,:;'.r>.ir..'>
7,2"U,':27
:!.2
1 1
,i7S
.1
.1
.;
fag?*
2i(i9i
720
lO.l.Tl
1 0(i3
36.970,939
!
8,393
290.934
172.4('4
PI
II.
238,!)i;0
35,529
288.691
62,137
431,860
1.215,850
922,455
1,402
12. ;).-).;
!
T,.t
23,027
WS
95,390
100.109
223.101
206.4.'.7
3.i4.032
1,72.";. 142
100,817
0y5.107
u
191,730
oo>w.-o
2't3.874
M 13 M
If..
THE DRY GOODS TRADE.
•1
^
—
—«
—= - s
—
r.
J
OtOMXX
MMCOfCi^
i''
n
o»l"ioVvo
-I J. wi oi -^
-J"WO—
C CJ W W 3i
ft-
-J
Frldav, P. M., July 24, 1885
.Although quietness was the dominant feature of the dry
goods trade the past week oaring mainly to intervals of
intensely hot weather, which caused many buyers to defer
oper.itions— a very fair business was done in some departments, and there was a continuation of the improved feeling
'i' '•
•ind.
South(3rn jobl)era are elated with the
O<03
M -i •* c w
90
a<tooo9«>
0010
O ^U M
(
i
to 91
•ato'-'MOJ
y»:;i
to
I
Xi»
1-'
U«
I
-
-.1
15
the crop.s in their section of the country,
'1
rcliases were continued upon a more liberal scale
than iaat season, but there was not tlie least tendency toward
speculation on their part. Western jobbord were more fully
ripr. " iited in the market, and their department buyers have
!)
11 iiii-ily enffajfed
making memoranda as a basis for early
r .1.
-: lint they have thus far
bought sparingly, and the
'II''.
have hardly got to work as yet. The local
ibijiii,,'
u.i
w, though quiet, was fully up t) the average of
J
tormer years at a like period, a fair supplementary demand
for summer fabrics having been experienced by jobbers generally, while a moderately good package bnsin^ss in domestics,
it of
-4tOUCC<»
00
p^
CDOBX*.
o
sie..
.
n
60
M
«>
to
•o
'
'
X-
-
'
-'
J
X CO
'
0» *- 03 T,
W — M^
y
M to » W Ol
^ X 3S *- lO
<xiVM^'j*m ?
:;•
X = to u
WP
X »- w k
I
?
wS
*-•
o-
5>
5
^
l.
g
s
r>
•
'
3lt-
^
.
si
to DO
l^^'IOt^.^
'-.
^.
!
-
-
"»'>
-;-
^ vM"
^
X
?
«-•-*
*» CS
w OX
-
h^
:
THE CHRONICLK
110
[Vol. XI
I,
%CQnX,
OP THE TEXAS & ST.
NOTICK.-SALE
RAILWAY IN TEXAS, conelattng
LOUIS
of 3x535 miles of road, tlie rolling stock, franelilse, and all Its pro perty.
iHMIiTri
HI
1
" Notice Is hereby given that I, J. M. MoCor
mlok, Special Master In Chancery, under and by
virtue of a certain order of sale issued out of the
Circuit Court of the United States for the Northern Dinrlct of Texas, directed and delivered to
me, will proceed to sell at pubUo auction for
cash, before the court-house door in the city of
Tyler, Smith County, Texas, on, to wit, the
fourth day of August, it being the first Tuesday
In August, A. n. 1885, between 10 o'clock A. M.
and 4 o'clock P. M., all that certain property
described in the following order of sale, and
upon the terms and conditions named therein.
United States Clrcnit Court,
rifth Circuit and Northern District of Texas, at
Waco.
The President of
the United States of America,
To J. M. MoCormlck, Special Master.
|rA«rea«, A final decree was m adc and entered
In the cause No. 14, Chancery, the Central Trust
Company of New York, l-rustee, Complainant,
vs. Texas & Si Louis Kailway Company in
Texas, etai.. Defendants, in the United States
Circuit for the Northern District of Texas at
Waco, on the 23d day of April, A. D. 1885, ordering and directing the clerk of said Court,
application of J. M. McCormlek, Special
Master appointed In said cause, to issue an order
of sale of the Texas & St. Louis Eallway Company in Texas and its property as described
upon
In said decree; and
Whereas, The said Special Master has made
lis ajiplicaticn for such order of sale, now,
therefore, in pursuance of said final decree, I,
J. H. (-"mks, Clerk of the Circuit Court of the
United States for the Northern District of Texas,
at Waco, do hereby Issue the following order of
eale in the above entitled cause, to wit You
are herehj' ordered and directed to seize the
;
Texas & St. Louis Railway, estimated to be
31535 miles of completed railroad, with its Eastcm terminus at Tcxarkana, and its Western
terminus at GatesvUle, Texas, together with all
Its property, the said railroad and property now
In possession of 8. W, Fordyce, Receiver, ap
pointed in the above entitled cause by this
Court, and exercising said trust And after giving at least 60 days' notice of the tlmeand place
and terms of such sale, and the specific property
to be sold, publishing such notice in two newspapers In the city of Tyler, Texas, and in one
newspaper in the city of New Y^ork, you will
proceed to sell at public auction in the city of
and singular the lands, tenements and hereditaments of the said railway
Tyler, Texas, all
corporation. Including all its railroads, tracks,
light of way, main unes, branch lines, extensions, sidings, superstructures, depots, depot
crounds, station houses, engine houses, car
nouses, freight houses, wood houses, Bheds,
watering places, workshops, machine Bhops,
bridges, viaducts, culverts, fences and flxtureSi
with all Its leases, leased or hired lauds, leased
or hired railroads, and all its locomotives, tenders, cars, carriages, coaches, trucks and other
Tolling stock, its machinery, tools, weighing
Bcales, turn-tables, rails, wood, coal, oil, fuel
equipment, furniture and material of every
name, nature and description, together witi all
the corporate rights, privileges, immunities a 'd
franchises of said railway corporation, inclu^
Ing the franchise to be a corporation, and all the
tolls, fares, freights, rents, incomes, issues and
profits thereof, and all the reversion and reversions, remainder and remainders thereof, excepting, however, and reserving from the lien
of said mortgage under which this _ale is made,
land grants, laud certificates and lands received by said corporation, as well as all lands
acquired by donation which are not actually
occupied and in use by it, or necessary to the
operation and maintenance of its lines of road.
The said entire SlS^s miles of railway, together
with all the rolling stock and properly as hereinbefore described, to bo sold as an entirety.
The sale of eaid railway and jiroperty Is made
In foreclosure and satisfaction of the following
liens thereon, as described In said final decree,
towlt: ,rr,
r
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all
•
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r A
——
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mortgaBe Iten executed to Henry Whelen
ana Henry (J. Mut-quand. Trustees, June 1, A. D.
1880, on 266 njlles of said railway, and all its property
frooi 1 exarkana toj Waco, to secure ^.000 in) uf
'first mortgage bonds upon each mile of completed
flrst
,TOad, to wit; $2,128,000 00 with Interest at 6 per ccntuu l>er annnm from theisauound delivery of said
llwnds, the same decreed to be a first lien upon 2iJ8
miles of said railway and propcrt y as aforesaid: also
'a first mortKa«e lien executed by said Texas & st
XOQls Railway Co. In Texas to the Central Trust Comfiany of New York, Trustee. Auinut 1. A. D. 1881. on
he entire railway of 816 8-5 miles, and all ita prop«rty, to secure Its " KeneralflrstmortKaee six per cent
,lorty-yearKold bonds 'for 11.000 00 eacll, bearing six
cent interest, the Interest beKlnnlng to run June
1881, tlJSl-.WO 00 of said bundsbavlng been Issued
and now outstanding the amount authorized, $12 BOO 00. to be Issued to each mile of completed road,
making 1620,000 00 Issued up,jn 49 8-5 miles of dalJ
nllway from the end of sail 280 miles to GatesvUle
Texas, and said $(120,000 00 decreed to bo and to hold
a flrst mortKave lien on said 49 8-5 miles of railway
and property. and the balanceof Bald Sl,81 7.000 00 to
wit: $1.1»7.(KJ0 00 Isssued upon said 2fi« miles of railway and property, was decreed to hold a third mortlien only on said 268 miles of railway and propage
OTtyt bat inaamoch as tbo saniewere issued under
•he eame deed of trust and Intended to hold the
Kmellmastbe $020,000 oo, and were sold and deered wlthoat notice to the purchasers of any dls.
unctlve difference between the bonds, they in fact
Being of the same series. It was ad jutWed and decreed
thattho l.lBTbrmds and the 820 tPBnds shouW be
placed on thesamd footing and entitled to the same
tS?.''i?!'».°fQ''o?''"S^**'','" ,",*"•"> '".">» proceeds of
Mia Of 49 a-6 mil <jl raUway and propert y upon
rr
*8
w
the basis of a prorated mlleaKC of said enthre road of
315 S-5 miles as hereinafter described.
lien executed by the Texas &
A second mortgage
Company m Texas to J. W. Phil-
St. Louis
lips and
Kailway
Abraham
June
Wolff, Trustees, dated
I,
its " land grant and mcome
mortKage bonds" for Sl.OOO 00 each, bearing six per
cent interest from date, and not paid unless earned,
and amount issued $8,000 00 per mile of completed
road; said bonds decreed to hold a second mortgage
lien upon Bald 268 miles of railw.ayand property de-
A. D. 1880, to secure
scribed in said flrst niortKage, and amounting to ?2,128.000 00 besides interest; the said decree in no
wise alTectlng the lien held by said bonds and mortgage upon the lands described therein. ^,
,
mortgage lien executed by the Texas &
Stf Louis Railway Co in Texas to the Central Trust
Company of New York, Trustee, dated Aug. 1. A. D.
1881, on the entire line of its railway, to secure its
feneral first mortgage land grant and income bonds
or $500 00 each, bearing six per cent Interest from
June 1, 1881, due and payable only when earned, $1,817,000 00 of said bonds decreed to be outstanding,
of which $1,197,000 OO decreed to be a fourth mortgage lien upon said 208 miles of said railway and its
property, and $*i20 OOD 00 of said issue decreed to be
a second mortgage lien on said 40 3-5 miles of said
railway and its property; but masmuch as the said
entire $1,817,000 00 were Issued at the same time
imder the same lien of the same series, and without
notice to the purchasers of any difference therein,
the saia $1,817,000 00 is decreed to share in the proceeds of 49 .S-5 miles equally upon the basis of mileage as the 49 3-5 miles is proportion to the 268 miles
of railway and its property as hereinafter described
in the terms of sale.
A second
_
>;»><-—*.
The terms and conditions of the
-'fc--^:
•
'-'
said sale in foreclosure and satisfaction of the aforesaid liens in aud
upon said 315 3-5 miles of railway and property as
decreed to be sold to the highest bidder, are as follows, to wit
Ist. The sale shall be for cash, and the purchaser
at the sale shall then and there pay over to the
Special Master the sum of $t0.000 in cash, and the
remainder of said bid upon confirmation of the sale
and delivery of title, as hereinafter provided.
2d. Upon delivery of title the purchaser shall pay
cash or debentures and claims ordered to be paid
by this Court as a prior lien to the flrst mortgage
bonds, such sum as may be ascertained by the Master sufficient to pay off and satisfy all costs, expenses, disbursements, fees of attorneys and solicitors,
all debentures issued or paid out, or that maybe
issued and paid out. and all claims now adjudged or
tliat may hereafter be adjudged under the orders or
decrees of this Court, to be entitled to be flrst paid
and satisfied out of the proceeds of sale before the
first mortgage bonds, and it any claim remains unsettled and unascertained at the date of the confirmation of sale and delivery of tit le to the purchaser,
which should be and may afterwards be adjudged to
be entitled to be flrst paid out of the proceeds of sale
before the said first mortgage bond.s, and the cash
paid in shall not be suflflcient to pay off the same, the
said claim or cliiims shall be and are hereby decreed
to bo a first and prior lien on said railway in the
hands of the purchaser, and may be so enforced by
the further order of this Court.
3d. After fully paying off Bald claims entitled to be
first paid out of the proceeds of sale in cash before
the first mortgage bonds, the remainder of said bid
may be paid in flrst mortgage bonds hereinafter ascertained to be a flrst lien on said railway and property,
and whereas $2,128,000 of Orst mortgage bonds were
issued upon aud hold a flrst lien on 266 miles of said
railway and property, and g820.000 of the general
first mortgage bonds were issued upon and hold a
flrst lien on 49 S-5 miles of said railway, and $1,107.000 of said general fh-st mortgage bonds were issued
under the same deed of trust and up(m the whole
line and entitled to share in the proceeds of sale on
49 3-5 miles of said ro.id equally with the others,
making $1,817,000 of said bonds equally entitled to
share in the proceeds of sale of 49 3-5 miles holding a
first lien thereon, subject to the prior payments hereinbefore provided.
It is tlierefore ordered
and
directed that the remainder of said cash bid.
after the aforesaid payments
entitled
to
be
first paid,
be divided into two parcels in the
OToportion and on the basis of the mileage of
t.ie road sold, the total line of road sold being
31j3-5 miles, and said liens of said first mortgage
bonds, to wit. the first mortgage^ bonds being on 266
miles and the general first mortgage bonds being upon
49 3-5 miles, the remainder of said bid shall be divided so as to set off 266/315 3-5 of said amount $
and 49 3-5/315 3-5 of said amount $
and the
purchaser may pay said sums In said bonds respectively, the larger amount may he paid In said $2,128,.
000 of bonds and interest pro rata accordingly as the
percentage may bo, and the smaller amount may be
paid in the same manner by the $1,817,000 and Interest of the general flrst mortgage bonds pro rata accordingly as the percentiigo may be. and if any part
of said bid remains unpaid aftcrthe application of
payments hereinbefore provided, the same shall be
paid over to the Master In cash, to be hereafter
distributed and apportioned according to the equities as established and determined by this decree.
4th. It Is further ordered that thesald Special Master Is authorized and directed. In the event that the
sale advertised at the time and place shall for any
good and sufficient cause fall to be made on the day
named, that the said sale shal then and there be postponed by the said Special Master, or some person designated by him, and to be postponed in his name and
by his authority, toafuture day,notexceedingtllirty
days thereafter, and said postponement shall be
published In at least one newspaper in the city of
Tyler during said adjournment of sale, in addition to
the verbal notice given at the time and place ot adjourning said aale, and the sale shall be made on the
day to which it is adjourned as hereinbefore directed.
And after the sale, payment of the purchase money
as directed, report of sale to the Court, and confirmation thereof, the said Special Master will make
a good and sufliclent title in fee simple of the
property so sold to the purchaser or purchasers,
which title shall be fieeof all encumbrances and
shall be a perpetual bar to all claims or equities, or
equity of redempt on or any claim whatsoever to the
said property so sold by said railway corporation
or
those claiming under it. and the said purchaser or
purchasers shall not be bound to see that the purchase money Is properly applied.
Witness the Hononible Morrison R. Walte, Chief
Justice of the Supreme Court of the United ^tate^.
"'. 1!"° Circuit Court thereof, at Waco
."hi'' i'^.'^.'S"'
this
1 1th day of May. In the
year of our Lord eighteeti
and of American Indepeni^ilK^'i^^.l^'"^''-^"'
dence
the 109th year.
^INKS, Clerk oi sau Conri.
'A'';?hL„i„ .„/•,"•
'"'en'"yof all the property descrihort T^^Lm" Ji
'?,'"^ '"'O °" '•'e <tfi of August.
5Sm
wf
£^
fl
L*",''
iWH.'i. will
be filed In the office of thp, Clort^.f ,hn
United States Circuit Cou™ It WaS:
also In thi
oiHe» of M.»,8,uerodon
*
VollSWn for com!
m
.
I
.^
1
Wn.
plainant, at the city of Tyler. Texas, subject to be inspected by all persons desiring to purchase at said
sale, and the same will be exhibited aud read on the
day of said sale.
The said sale of tne aforesaid property is to s.itisf y
certain costs, expenses, disbursements, attorneys'
fees, claims ordered to be paid, debentures, other
claims and liens described and mentioned in said final
decree and order of sale; and the amount of cash required to be paid on the bid for said property as provided in the said final decree ai,;d order of sale will
be ascertained so far as possible and filed with the
said schedules and Inventory of property, subject tothe Inspection of purchasers before said sale.
tl
All Information iu possession of the Master coiicernlng the property to be sold, and the debts agalnati
the same, will be given upon application.
y
»
J.
M. MCCOKMICK,
V
DALLAS, Texas. May II, I8S5.
Special ~"
MasteriS.
BUTLEIl. STILLMAN & HunUAKD,
y
—
HEllNDON & CAIX,
Solicitors for
V
Complainant. *-
NOTICE TO CREDITORS OF THE:
Texas & St. Lolls Kailway Companv in
Texas—Notice is hereby given to all creditors
holding claims entitled to bo paid out ot the
proceeds of the sale of the Texas & St. I.ouis
Railway aud Its property In Texas, to occur
August 4, 1885, at Tyler, Texas, anil to all persons owuiog or holding bonds or other eecuri.
ties and liens upon paid jiroperty, entitled to
share in the proceeds of said sale under the
final decree rendered in said cause No. 14 in
Equity, to forthwith deposit their claims end
written memornnda in pursuance of and as required bv a certata order made by the Hon. Dt,n
A. Pardee, Judge ot the United States Circuit
Court for the fifth circuit, as follows, to wit: —
" In the United States Circuit Court for the
Northern District ot Texas, ut Chambers, June
16, 1885. This day came on to be heard the applloatlon of J. M. McCormlek, Special Master in
Chancery, appointed by the United States
Circuit Judge for the Fifth CLrcuit, to wit: b.v the
Hon. Don A. Pardee, iu cause No. 11, peudlngia
the United States Circuit Court ot said circuit
and district otWiico, Texas, wherein the CcntraL
Trust Co. of New York, Tinstei", is complainant,
and the Texas <fe St. I.ouis Company iu Texa^,
et al., Is defendant, and the same being considered and it appearing to tlie Court th.atafln.tl
decree was enter, d In eajd cause April '-'3. 1885,
foreclosing certain liens iu favor of the holders
of certain series of bonds is'^uod by saiil defendant company upon said railway and its property, and In pursuance thereof au order of sale
was issued under said decree directing said Specliil Master to sell said railway and im its property, to wit: 315 3-5 miles of road, rolling stock
and property in Texas, on the terms named
therein; and it further appearing tliat said Spcoiiil Master has advertised said railway aud
property to be sold at the Cit.v ot Tyler,
Texas, on the 4th day of 'August, 1885.
And allowing a part ot the bid for said property to be paid in cash sufficient to cover all
claims decreed to be entitled to be first jiaid
out ot the proceeds of sale before the tirst mortgage aud other subseipient mortgage bonds,
and the remainder of said bid to be paid in first
mortgage bonds, and the surplus of said proceeds, If any, to be paid into court to be applied
to the payment of the subordinate Becuriiies
and claims according to the eipilties established
by the said final decree. And Ju order to enable
said special master to ascertain the several
liabilities against the Texas & St. Louis Railway Comviany in Texas aud against the Receivership's administering said trust since the
16th day of January. 168-t. so as to deteriutno
the amount ot cash to bo paid on the purchase ot
said propertv and the amount of bonds that
can be received in payment, it is hereby
ordered and directed that all persona t\ hornsoever holding any claims entitled to bo
paid out of the lu-ooei ds of the sale against
the said Texas & St. Louis Railway Company
In Texas, or against the said railway and propetty while In the hmids ot the Receiver administering the same, shall forthwith and before
the said sale of 4th of August, l;8o, furnish to
J. M. McCormlek. Special JIaster, addre.'sed to
him at Waco, Texas, or Tyler, Texas, care of
Herndon & Cain, Solicitors for Complainant,
the said claims, iucluding all bonds ot every
series and kind decreed to hold a lieu upon said
property, all Receiver's ceniticates, claims adJudged b.v Court for labor, material, costs ot
court, judgments, fees, commissions, contracts
for money, counsel, solicitors' and attomoys*
fees incurred. In fact, every claim what soever
whleU is entitled to He paid out of the proceeds
of sale ot said railwa.v and propert.v.
The owners of the bonds and other va'uablo securities are not required to deiiosit the bonds
themselves,unlessspeciallyreqiiestedsotodoby
theMasterforinspectiou, but shall givcthenumberofthebondorotherscourit.v.l .*date.,imount..
style, rate ot interest, when the interest beg.an,
and figured up to August 4, 188-5, In a statement h.v the owner or his diil.y outhoriredagent,
and duly sworn to and att' sled before an olllcer
having a seal. As to all other cUiiraa. the clilm
itself must be deposited with the Master with a
staieiuent of ownership, as above, duly sworn
to, which said claims the Master shall file and
register in a book kept for that puriio.'.e, duly
chissifled cs to priority and in the order received. It Is further ordered that said Special
Master shall cause this oi-iler to be published In
the same newspapers in which said salels advertised from this date until said sale. Also in oiio
newspaper iu the CItvof St. Louis, Mo and In
the City ot Waco, Texas; and tlie Clerk of the U.
8. Circuit Court, at Waco., Is directed to file and
enter this orderupon the minutes of paid Court,
in the above entitled cause, and furnish a certified copy to J. M. MoCormlck, Siiecial Masttr.
DON A. PARDKE, Judge,
June 16, 1885.
Waco, Texas, June 23, 1885.
J. M, MgCORMiCK, Special Master.
v^» _
,
@FedFRASER