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:
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financial
xmnlt
HUNT'S MERCHANTS' MAGAZINE,
RKPRESBNriNG THE INDUSTRIAL AND COMMERCIAL INTERESTS OP THE UNITED STATES3
VOL.
SATURDAY, JULY
47.
NO.
28, 1888.
Week Endint July 81.
3i;ixje
Terms of Subscription— Payable
in
Adrance
For One Year (inoludinK postage)
For 8U Months
do,
Enrt)pHiin Suliscrlptlon (Inoladlng postasre)
:
$10 20
(Stockt
$haret.)
(Cotton
(Oraln
(Petroleum
lOmi
O,
TVILLIAn
lOa
B. D.INA & Co., Publlsbers,
AVlIllaiu Street, \K%V YORK..
Post Office jSox 958,
(-I-12-7)
(12,580,000)
(-H9-9)
85,305,858
4,77K,0"0
75,546.867
4.623.900
+12-9
2.305.12(1
2,IH,1,35«
+129
l,02».7tS«
1,149,1111
1,25:1,221
+110
700,058
1,351,700
93i,361
1,036,584
1,012.283
547,714
+290
82,529,058
4,814.800
2.324,163
1,660.556
1,080,996
1,I8«,8S«
1,177.917
725,800
97,777,012
87,127,765
+12-2
9o,19S),42S
-fo-i
63,579.192
11,204.988
12,824,108
61,825.944
10.230.882
12,645,014
+2-8
69.776.782
11,862,164
11.983.773
+13-7
-e-7
S-4
83,092,689
—9-1
+B-3
61,476,071
bblt.)
Boiton
Portland
.
Baltimore
Tlie returns of exchanges for the week ending July 21 cover
the most satisfaetory exhibit that has been made for some
time past. Not only is there a substantial increase compared
with the previous week, but contrasted with the corresponding
period of 1887 both the aggregate of all and the total outside
of New York record fair percentages of gain. In fact on
only three former occasions since the opening of the year has
there been a like result, and in neither week was the increase
in the whole country so heavy as in the present instance.
Of
the gain over last week New York contributes about thirtythree-and-a-half millions of dollars, of which a good proportion
Beems to be due to mercantile business. Speculation on the
New York Stock Exchange during the week, so far as the
market value of the securities dealt in is concerned, reached
a total slightly less than in the previous week, but largely
exceeded the result for the like week of 1887. The same is
true of Boston.
As stated above there is an increase compared with last
year, both at New York and in the total for all the other clearing houses. Furthermore, only eight out of the thirty-seven
cities included in our table exhibit any falling off, and the
heaviest per centage of loss is at St. Louis and reaches 14-2
per cent. But there are, on the other hand, some quite important gains, and in this respect Omaha leads with 31 -9 per
and
3,456,586
3,712,730
Wichita
Uuluth
Topeka.
Louts
Joseph
Louisville
Memphis
Sontbem
Total
San Francisco
Total
all
Ontslde
NewTork
-(-9-6
--20-2
+9 6
-f-1-4
+
3,321.481
+51
118*5
-f6'3
»,8l)6.7.'>0
-9-1
8,948.529
+1-6
+13-4
+16-4
+99
1,9112.681
+2-2
+31-9
+11-8
+23-4
2,0l»,0l>4
-4-80*9
+2-5
-0-5
+l»-0
+7-0
9,549,8(J0
8,938,:W8
8,8;0,878
1,748,784
3,219,868
1,H58,889
1.178.952
-9-0
+17-2
4.5»3,i»il
8.148,2.0
8,372,887
1.101.061
3.823.346
3.91rt..)85
•f«-4
—1-6
+8-8
+28-1
-^-8
+11-4
-18-7
l,W0,9Hi
658,539
2,217,788
3S8,»30
4,391.939
554,002
740,279
1.935.538
351,087
+14-6
+2-0
2.v5.<t,123
279,235
—1-1
+53-S
-11-S
104,480,333
97,591,458
+7-1
108,601,936
+4-8
16.640,803
18,223,998
1,:«1,108
4,B03,3oH
4.5»0,29t
-14-2
16.022.083
1,271,473
6,262.833
7.S22.121
1,260,000
B35.072
700,100
Kansas City
-75
+0-1
+11-8
4,2«l.B?:i
519,95:1
5.a','8,874
Galveston
Norfolk
-f.1S
(29'),.VK»
(38,853.895)
(23,898,000) (+270-2)
2,43.',0.S2
1,601 '.9'i9
—2-0
—«-l
-110
+159
+13 8
+U-7
7,61*4.223
+1-7
973,945
609.863
(H8,957
+283
-13-6
+27-6
2.537,141)
4,00",2S9
617.244
727,0rt6
6,34:),M5I
6,820,4)8
7,«9S.015
1,420,233
683,116
709,699
—.3-4
—1-6
H-a-s
+16-8
-2-7
-6-8
-^32•8
-2S-S
+»ri
38,040,832
38,625,743
-1-5
39,&49,225
•HC8
16,580,850
17,707,692
-12-0
17,272,455
-19-S
043,091,304
859,112,934
+9-8
907.912.361
-«•«
343,487,813
8V5,764,178
-t6-4
341,816.-30
-1-4
Our usual
telegraphic returns of exchanges for the five days
have been received and are given below. The total for the
seven cities exhibits a decrease from the corresponding five
days of last week of one hundred and ten millions of dollars,
and in comparison with the similar period of last year there is
per cent.
On the basis of these telegraphic
estimate for the full week ended July 28
would seem to point to a decline, compared with 18i7, of
about 2-9 per cent. Messrs. R. G. Dun & Co. report the number of failures for the week ended Friday night as 221 (199 in
the United States and 22 in Canada), against 228 last week
and 184 for the week of last year.
a
loss of 3-1
returns,
the
Week Kndint Julv
Betmnu bvTMetrapK,
1888.
New Tork
Week End'g .Tulv 21.
88.
1887.
P. 0ml.
1888.
P. Cknt.
418,255,966
441.620,500
-6-3
499.680,277
+1»«
(1,081,150)
(1,066,105)
(+2-4)
(1,112,867)
(+WU
+fi
+19-8
13,068396
4,217,932
68,449,440
46,988,437
9,690,461
42,124,481
14,730,488
4,078,ail
70,986,066
^S,417,018
11,081,361
61,562,000
507,617,144
135,388,674
616,576,616
146,459,208
Balance Coantrr*
782,906,818
100,062,049
»4,804,88O
Total week,
all
832,967,867
807,930,104
For 'he
week, based on
Sates of
StMk (sharM)
.
Boston
81,638,162
48, 112,605
is
values from the New York exchanges to arrive at clearings
having other origin, the result reached is 1437,908,991 this
year, against $426,868,776 in 1887, or a gain o^ 26 per cent.
66.324.292
1,202,661)
.,,.
followed by Lowell, 29'0; Memphis, 28-3; Nor- Philadelphia
Baltimore
folk, 27-6; Denver, 33-4, and Springfield, 20-2 per cent.
Cliiaa<ro
The dealings in shares on the New York Stock Exchange Bt.Loal8.,,.,
New Orleans
for the week cover a market value of
|64,654,000, against
Total, 6 days
$42,596,000 for the corresponding week a year ago. FollowBstlmated 1 dar
ing our usual plan of deducting two-and-a-half times these
cent,
84,701,820
61,000,313
8,851.698
2,081,091
8,467,648
2,042,358
Total Western
CLEARING HOUSE RETURNS.
87,808.286
9,182,(X)0
4,0:i4,970
Omaha
St.
St.
(1,281099)
(483,700)
Edwards & Smith, 1 Drapers' Gardens, E. C, who -will take Minneapolis
absorlptinus and advertisements and supply single copies of the paper Denver
St.Paul
•t la. each,
Grand Rapids
J
-45-3
606,128,631
(29.076,1500)
Hessrs.
DANA.
NA.
FLOYD,
(-H66-71
(zm.soo)
ArtTertlsements ordered for less than one month, In the Commercial
Total Middle
are piibllsUeil at 25 cents per line each Insertion. When orders are delinitely given for one inontii or longer, a lib- Chicago
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dered for one year are 8 cents per line each Insertion, making $58 for IndianspollB
«ne Inch space one year. Space is measured in agate type— 14 lines to Cleveland
Columbus
the inch.
Peoria
B.
-t-13-4
(74fl.l«3)
(32.7«7,(M5)
(IS.810,000)
& FraA>xiAL Chronicle,
WnXUM
533,358,776
(l,247,0fl2)
P. Cent.
1888.
balea.)
Pittsburg
liOndon Asents
t
699,603,991
buakeU.)
ubscrlbers of the CiiRONioi.B.
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A file cover is furnished at 50 cents; postage on the same is 18 Total New England.
oenta. Volumes bound for subscribers at $1 00.
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P. Cent
1887.
Sou* of
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European .Suliscrlptlon Six Mouths (Including postage)...
Annual subscription In Iiundon (Including postage)
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Biz Mos.
do
do
do
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These prices Include the Istestors' Sopple)«ent, of 120 pages
Issued once In two raontlm, and furnished without extra charge to
Terms
WeekEnd-QjutyH.
Cltfcruklje.
1888.
1,205.
9,281,487
48,007,000
18,073,672
.
..
Total full week....
full
last
week's returns.
+4-8
—4-2
+2-1
-11-2
-l-S-8
-4-5
-FT?
4-3
4,765,669
-l8-«
+0-8
-8-1
-rii
704.461,179
187,669.427
+10-4
+10-9
1^9
842,130,690
lOO.960.ag7
-H-8
943.090,886
+9-8
+
+6-4
THE CHRONICLE.
92
plated
THE FINANCIAL SITUATION.
[Vol.
II.
former to other principal crowned
of the
visit
XL\
This speculative fever
There is no cbange in the rate for money on call, either
compaat the Stock Exchange or at the banks and trust
and
at
1 per
loan
to
continue
1^
Bankers' balances
nies.
is said to haveheads of Europe.
extended from Berlin to London on German buying
The Bank of Franca has
orders for American securities.
rate,
cent, with the bulk of the business at the first-named
gained £59,000 gold, and the Bank of Germany since last
report shows an increase of about £238,000 of this metal.
which renewals are made. Banks and trust companies
secured
obtain 2 to 3 per cent, but the higher figure is only
The
at institutions where the loans stand undisturbed.
absence
the
feature ia the market for time loans is
The rates for sterling exchange have this week been
reduced twice, the first reduction being on Tuesday a half
a cent, and then again yesterday another half cent per
pound sterling, the nominal rates now being 4-86|^ for
at
new
of
matured
Some
engagements.
loans
to
satisfactory
are
long and 4-88^ for short.
the
is
rate
whore the
borrower, but where the lender demands an advanced
renewed
^te
is
are generally paid
the loans
Tne tendency
off.
of this action is to transfer a constantly increasing proportion of the loans to the call loan department, which is
not a feature favorable to a quiet and smooth movemen
of the money market, should the demand for currency
later on to move the crops be in any measure active.
That demand,
shortly,
if
seems,
it
be in
likely to
is
full
operation
present appearances.
For
Louis money
now
we may judge from
even
weak
ties
in
cotton
against
also
;
Even
at the decline the
and
grain
and
exchang©
futures
against borrowings noted above on sixty days'
from
Amsterdam, Berlin and English
The sentiment seems to prevail that the tendency
Frankfort,
houses.
exchange
of
market
consequence of liberal offerings against securi-
now
towards much lower figures.
may be checked by dearer rates
London; but we are rapidly nearing the-
will
be
This tendency, however,
for discounts in
season
when low exchange must be looked
Switzler of the Bureau of
Statistics has this
for.
Mr.
week issued
the trade figures for June which show on the merchandise
movement a balance that month against us of $18,206,000,
but as we sent out net $2,861,000 of gold and $1,207,00(>'
It is thought in well-informed silver, that balance would be reduced to a little over 14
ontits surplus when needed.
circles that the Secretary can get plenty of bonds by a little million dollars.
The statement in our usual form ia as
and
instance, at Chicago
St.
is
hardening, feeling the effect of calls from the interior. Still,
the understanding is that the Treasury will find a way to put
may
change of method, which
requirements.
used
be
Besides,
though that makeshift
will not,
fall
f ol lows.
take the
to
FORlrtOJf
money more
current surplus could easily be found with
active,
meet
to
depositary banks
TRAD! MOTEMBKT OF TH» (TNITED STATES— (OOOS
Merchandise.
we presume, be
Excean
rear.
"We
hear of some borrowing of money on sixty days exchange
from Frankfort, Amsterdam, Berlin and Euglish houses
farther used unless there seems to be a need for
at rates a shade
is
not large.
under our time
Quotations
for
rates,
time
but this movement
money
cent for from thirty to ninety days on
are 3 p?r
class
first
col-
B»
Export*. Imporfj. 0/
it.
Gold.
1S8&
Jan...
Feb...
Mar...
April..
May...
June..
%
«3.051
56,666
30,749
48,841
47,107
44.627
5S,514
66,856
63,041
60,802
60.481
62,833
*
4.53;
«
396
t
624
'10,171
*12.2»2
•ll.«5S
•13.374
•18,200
l.OU
1,667
2.271
74H
S19
48(3
and 4 to 4^ per cent for four, five and six mon'h?, Total 311,0«8 372,527 •61,464
330,390 .i3r,«0 '2r,o«o
while on mixed collateral the rates are about ^ of 1 per ISS?.
•979
1SS8. .•wr,6ii 3-.«8,59C
Com mercia 1SS5 336,330 iS 1,022 53,8U
ceiit above these figures for the same time.
1SS4 343.51;; 332.757 ; 0,756
paper is now in good supply in all departments of trade, 1SS3 3SH.2tt 352,125 46.083
being poor.
Rates are
sixty to ninety day endorsed
per cent for
receivable;
bills
four months acceptances and
4@4|
5 to 6^ for
4^@5^
good
for
single
names having from four to six months to run.
The cable reports discounts in London for sixty day to
three months bank Dills at l|@lf per cent, the advance
benig doubtless due to the dram of bullion from the Bank
to South America. A special cable to us slates that £510,
000 has been shipped this week by the Bink, and almost
all of it had that de-tinaiion; £00,000 were received from
Germany, and £3,000 were sent to the' interior of Great
Britain, making the net loss £453,000.
At Paris the open
market rate is 2f per cent, and at Berlin it is 1^ per cent.
The impiovement at Paris is probably also due to a
demand there for Sjulh America. We notice that in
number
the last
correspondent
has
of
the
explains
London Economist
the
Bank of
Paris
its
that
Prance
out gold by a special transaction. That is to say
the bank has given it against bills discounted, which
let
netted such a profit that the bank required no premium
" otherwise the bank is keeping a tight hold on iis
gold
"and all the public offices and the companies which
" have coupons to pay, use notes as far as
they go
"and complete the sum in silver five-franc pieces
"when
the difference
advices
erations,
from
stimulated
the political
Em^ror
Berlin
is
less
note
by the
situation
than
more
100
francs."
activity in stock
apparent improvement
resulting
from the
visit
Oar
op
in
of the
William to the Czar of Russia and the contem-
Exports.
p<«-ts.
lateral
collections
Jmport*.
*
Excess of imports.
t
It will be noticed
20a
958
7.877
3,154
-5
Excess
0/
Import*.
»
t288
ta53
1,785
taio
+7,558
Bcaports.
t
2,238
2,118
3,953
t
1,180
1,170
1.050
0/ Exportt.
t
1,W»
94»
a.9os
575
1,089
791
2,124
2,123
1,03;
916
1,207
+<».725 13,922
6,191-
+1,168 I 2.240
38,744 f31,a4« 12,099
7.5^.
7,764
4,713
5,508
9,358
+2,8-11
87 t e. fiii'
8.582 39,880 f3 1,118 12.57'.
3,111 12.:i-'
7,78; t 4,B48
7,29.
Im- l^<^"*
port*.
1,361)
5.041 t4,7>:8
5.990 7,162
4.3
omitted.)
Silver,
7,209
7,491
7,413
6.38;
5.93'
6,218
6,390.
Exoejs of exports.
according to the above that the net
merchandise balance against us for the six months is much
In fact in
larger than in any six months in the record.
1885 the favorable balance for the same period was
$55,314,000.
Il is satisfactory to
erty cannot, as
we
have a decision that railroad prop-
stated in an article a few weeks ago,
b&
by State authorities, for this is in effect the
ruling of Judge Brewer in the case against the Iowa Riilroad Commissioners. The Iowa Commissioners, it will b©
remembered, had prepared a new schedula of rates'oi
confiscated
such a greatly reduced basis that the roads
felt
that they
would be courting bankruptcy to adopt it hence they
brought an action to restrain the Commission from enforcing the new rates.
The contention of the State officers
was and indeed this has been the position of nearly
all the Western Railroad Commissions
that their powei*
was supreme, that whatever rates they determined upon
the roads were bound to put into force, and this whether tho
rates allowed a margin of profit on the service or not. In
the examination at Das Moines (whicii is still in progress)
one of the commissioners had the audacity to declare in answer to the question, who was to make good the deficit at the
end of the year in case the rates proposed did not yield a
profit, that he was not bothering himself about that. J adga
Brewer now completely upsets that theory. He holds that
;
—
—
rates cannot be fixed so
tion to the roads,
low as not to furnish compensa-
and that compensation
implies (1) the
1
,
JVhY
THE CHRONKJLE.
88, 1888.]
the service, (2) fixed charges and (3) something
As there is a probability that the rates
93
Toe stock market has continued quite
though it
would seem
if there had
been large realizing sales, bat on the other
fixed by the Cotninission will not yield compensation in
hand there has been considerable baying for foreign
this sense, the Judge orders a preliminary in junction till
Hereafter the term account, and local sentiment favors higher prices, so that
a full and (in»l inquiry can be made.
The
"fair and reasonable" as applied to rates will be interpreted the tone has most of the time been quite strong.
in the interest of the roads as well as in the interest of particular in which the market differs most, perhaps, from
its condition a month or so ago, is that now pricas respond
shippers.
very readily to favorable news, and bad news produces
It is surprising how remarkably well railroad gross
earnings keep up to and even exceed the very heavy totals scarcely an impression, while previous to the 1st
of last year. The results as to the net are not always of July the reverse was the case. Crop prospects
strikingly
correspondingly favorable, owing to heavy expenditures, continue favorable, railroad earnings are
receipts
that
gross
continue
on
important
fact
large,
the
anthracite
coal
trade
is
in
good
is
an
but it
such a scale as to permit the roads to be thus liberal in condition, and the production of iron very heavy so the
Take the Pennsylvania, for instance. disposition is to operate on the long side of the market.
their expenses.
This road reports for June a gain (Etstern lines) of $168,- The trunk lines have not yet settled their dispute on
542 in gross and $1 0,080 in net. The changes seem slight, dressed beef rates, and in other directions rates are pretty
but the gain of $168,542 this year follows a gain of badly demoralized. But it is believed that with the heavy
$573,757 in the same month last year and $600,463 the traffic which large crops insure, railroad managers will be
year preceding, so that present earnings of $3,080,400 inclined to reach an understanding and fix rates so as to
compare with $3,735,638 only three years 8gr>. Even the yield a profit on the work. The great event of the week
net is quite satisfactory and stands at $1,371,539 for 1888, of course was the decision of Judge Brewer in the case of
Taking the half year the the Iowa Commissioners, alluded to above, and this had a
against $909,444 for 1885.
results are much the same; the gross is about 1^ millions very favorable effect on the market, causing a sharp adlarger than last year, 4^ millions larger than in 1886, and vance Thursday afternoon when the intelligence was
Si millions larger than in 1885, while the net though first received and a further advance yesterday. The anslightly behind 1887 has improved a million on 1886 and nouncement of another dividend (m scrip) on Louisville &
coBsiderabl/over two millions on 1885. At the same Nashville also came Taursday afternoon, and stimulated
time the Western lines have also done better. Here is a a rise in that property. Southern securities, however,
summary for the month and six months for six years.
have been much less prominent in the speculation this
of
cost
for the stock.
has been hardly so active is expected.
firm,
m
It
—
USES
EAST OP
1887_
igg3_
PrrraiirHG.
1888,
1885.
1884.
the proposed transfer
»
1
t
*
»
«
dross earnings..... 5,rR-X400 4.011.838 4,33n,101 3,735,838 3,008.174 4,151,871
Operal'K expenses. 3.508,8 il 3,: 50,399 2,984,968 2,828,191 2,823,148 2,977,729
Net earning.,, 1.571,539
-130.012
Western lines
Besnlt
1,441,537
909.441
l,6»l.45ll|
1.351,133
-153,8()«1
-102.127 -334,817 -311,907 -176,290
1,083,028
1,407,793
1,189.008
771,119
674,027
1,179,142
1,002,832
Jan. 1 to June 30,
2T.858.198 28.370.724 23,850,184 21,819,593 2S,n33,249 24.352.579
Gross earnings
Operat'K expenses. 19,ie5,440 17.581,34i;l5,580,5l0
Net earnings...
Western lines
Result.
8,8112,718
8,7*1.383
-21U,9>»3
+'-00.783
8,472,858
8,835,195
11,71.9,734 15,221,007 15,833.753
6,519,859
7,1169.624
1
3,112,343
8,518,82<>
-514,023 -987,090 -704,855
+215,174
7.164.701
8,734,500
The Fniladelphia & Reading
is
5,532,789
7,317,387
another road which has
June figures this week, and shows striking
growth. Taking the operations of the Rtilroid and the
Ooal & Iron Company combined, an increasa of $449,725
in gross is reported, with an augmentation of $424,605 in
expenses. These are large figures in themselves, but one
submitted
its
-does not appreciate
There have been no
week.
1883.
1
their full
significance
till
recalled that the gains ate additional to very
the fact
is
heavy gains
Richmond Terminal
stocks were quite
to the
developments yet in
definite
East TenneBsee from the
of the
&
Norfolk
The
Western.
coal
a feature at one time, being notably
strong and higher, and latterly the grangers and the
come to the front. The report that
Union Pacific had withdrawn from the joint lease of
the Oregon Navigation and the resignation of one of the
directors of the Union Pacific, did not exert much effect
upon the stocks of the roads affected. Indeed, Union
trunk-line shares have
the
Pacific has been quite strong all the week.
The following statement, made up from returns
collected
by us, shows the week's receipts and shipments of cur ?
New York
rency and gold "by the
W$ek ending Julv
banks.
Received by
r. Banks.
27, 1888.
A',
Currency.
Oold
12.032,000
87,000
Total frold and
letral
tenders.
»2,10»,000
Shipped by
r. Banki.
Net Interior
Movement.
«fl05.000
15J,OU0
Gain. (1,417.000
Loss.
83,000
{753,000
Ouln. ti,35i,oao
If.
I
Tae gross then was enlarged $384,876 and
Taking the foregoing in connection with the Sub -Treasthe net was more than doubled, rising from $500,516 in
ury operations, the result is as beloy.
June, 1886, and $512,585 in June, 1885, to $1,012,732
last year.
in June, 1887;
$1,037,852.
now
for 1888 the
The gross
for
total has
1888
is
been raised to
$2,996,797 in 1886 and $2,871,549 in 1885.
been
some
this week,
other
quite
favorable
Tiiere have
statements
of
net
Jersey,
Norfolk & Western, RichPetersburg and Petersburg; the Central of New
the Lehigh & Wilkesbarre CoaJ, the Western
New York k
Net Chanat in
Bank BotdlnQr,
Banks* Interior Morement, aa above
Bab-Treasury operations
Total gold and
tetral
tenders
...
t3.109,'WO
0.600,000
10,700,000
$11.709.000
$11,455,000
»755,')00
&
Canton have also done quite well. The
Cleveland Columbus Cincinnati & Indianapolis on the
other hand has sufiered a loss in both gross and net.
The
Chicago & Northwestern has also furnished its gross for
June, showing to the surprise of everybody an increase of
$120,756; the increase
compared
The following
with
$300,000 larger.
last
1885
year had not been heavy, but
present earnings are nearly
table indicates the
the principal European banks this
Gain. ll,^354.oa)
Loss. 1.100,000
(iaiil.
i2&4,000
amount of bullion in
week and at the cor-
responding date last year.
Pennsylvania, the Erie, the Staten Island and
the Cleveland
as
Out of Banla.
27, 1888.
among which may be mentioned Southern roads
like the "West Virginia Central,
mond &
WuJi sndlno July
$3,831,398, against
Jvly
Banks
Bold.
£
Sai'«r.
a
England.
«).%82,3U8
.Trance
44,382,905 48.614.232
83.252,(187 18.H20,833
Aust.-Hung*]r
Netherlands..
8,033,000 15.161,000
5,624,000 8,033,000
HU. Bekcinm
2,657.000
6,978.000
NsUonal
July 28. 1887.
26. 18S9.
0/
Italy
Totthliwoek
l,S78.000
1.118,000
IV>eaI.
Gold.
s
B
80.862,366
93.007.107
49,879.000
8i,i»3.oao
I3.nni.ooo
3,815,000
8.090,000
SUvtr.
a
8 1.737.7 1
48,235,700 17,3:3.7S1
24,423,BiX) 16,3?2.400
0.815.000 14.810,000
5,100,000 8.S 10.000
S.43S.0a0 1.818.00U
7,001.000 1.118,000
1
lataL
a
81,737,711
95,5;ia.54*
40.706.000
<i.6«ijieo
13.316.000
S.737J)00
8.119.000
11»,888,9«8'90.839.585 210.53i,5tu|ll5,7t3.07l|89.O4S.184ao*,8IO.»»
Io«.pr«».w'».ljl».771.797l00.735,S3a 2l0,507.0i«. lU.10i472l«a.34a.l*i!iOa.7»l »««
IHE CHRONICLE.
9i
have
all
that
is
they
but
forms,
have
all
object
this
in view.
TRUSTS.
Nearly
various
[Vol. XL"VII,
written on this subject goes
A pool
oce
to
majority of writers hold that
antee of
effective while
is
continuance.
its
it
but there
lasts;
The law
will not
is
no guar-
enforce such
extreme or the other. The
our contracts in some cases railroads, for instance they
trusts are a great commercial conspiracy, endangering
To give them stability, without
jusiification. are actually prohibited.
possible
no
of
admitting
life
and
industrial
On the other hand, the few men who try to defend them involving actual consolidation of the various firms involved, the " trust " was devised.
In a certain sense it
not ouly that they are a natural outgrowth of modern
—
—
;
insist
probably true, but that there is
no special evil or danger connected with them. Neither
extreme can safely be maintained. Trusts bave a good
business conditions, which
is
things to justify their existence; but tbey involve
many
some almost necessary
and a great many possible
evils
tory.
It
articles is not, at its bes',
may prevent them from being
wholly
satisfac-
on an average too
does not prevent wide fluctuations
from year to year which involve loss both to the pro-
high or too low, but
it
In
ducers and to the public.
it
pool
fact, in its
A man
makes tbem inevitable.
will
unless prices are so high as to give
present workings
not go into business
him what he thinks a
furnishes
maintained
;
the
a
division
guarantee
trust,
if
of
that
effectively
business in
prices
will
the
be
arranged, gives a
guarantee for the maintenance of the division
similar
trafiSc.
It is this use of the trust, rather
competition in regulating the price of
effect of
manufactured
The
the price agreement.
of
dangers.
The
bears the same relation to the pool that the pool does to
which
new
than the trust
itself,
For a long time past trusts of
stock have been created as a means of securing permanence of management. The Starjdard Oil Company was
the first to apply it as a means of regulating the relations
of different establishments to cue another.
A few other
industries
hardly more than half a dozen have since
been organiz-rd in the same way. Most of the so-called
a
is
thing.
—
—
on his investment after paying trusts are simply pools.
This account of why trusts have arisen indicates, in a
But when he has once invested his
money, he will not be able to withdraw it without loss. general way, the most plausible grounds on which they
His plant, once established, must be kept in operaiion, can be justified. That they can, in theory at least, check
even though the returns do not pay interest or fully cover both fluctuatioa in prices and waste of capital, is clear.
maintenance charges. It then becomes a life and death That competi'ion, under existing industrial coliditions, inBut it by no
struggle with him to maintain his position in the trade. volves both these evils, cannot be denied.
He will comp-te all the more actively while prices are means follows because a monopoly can do the best
below cost, as long as his financial resources will stand the thing for the public that it will do so.
The power
which is controlled by the representatives of a
strain.
good prospect
all
of
interest
other charge'.
or normal standard
Instead of establishing one natural
of prices, competition then
One, which includes
when new
capital
all
will
furnishes
the elements
come
includes operating expenses
in
two
of
distinct
cost,
determines
which only
another,
in;
the very narrowest sense,
determines when old capital will ba driven out.
may be
these points
The standard
very
ones.
much higher than
One
of
the other.
of prices of pig iron in a time of inflation
is
trust
it
is
a dangerous one, and the temptations to abuse
are great.
In the ordinary condition of business competition each
man
seeks to extend his market, and to use the utmost
economy and efficiency in order to put his goods at prices
where he can command a large sale. The public has in
this
way
industry
a guarantee of efficient service.
is
monopolized there
is
Where an
no such guarantee.
The
two or three times as high as in the period of depression managers may prefer to do a relatively small business at
which fellows.
For the concerns which have lived high prices instead of a larger one at lower prices. Not
ihrough the depressioa have a temporary monopoly in the merely does the public suffer by this process, but the final
" boom " which enables them to command the highest effect is to tempt independent capital to be invested outside
returns, while those
which have afterwards been tempted of the ring to precipitate a war of rates, and to produce*
by these specially high prices throw their with perhaps greater intensity, the very evils which comstock on the market just when it is not needed, and bination was designed to avoid.
Such has been the
to
come
in
downward
intensify the
Now
react'on.
mistake and such the fata of the majority of trade combi-
obviously for the advantage of the public as
well as the manufacturers that these extremes should be
it ia
avoided
should
their
pos-ible.
if
last so
work
cheapness
is
is
It is not desirable that the low prices
long as to drive concerns out of business if
needed in the long run. The temporary
dearly paid for on such terms.
extent, then, the efforts to prevent
able
in
take
the
three
interesU
the
of
forms—pnce
this
To a
certain
result are justifi-
public.
ayrreements,
These
efforts
A mere agreement upon
a schedule of prices
is
the
so easily evaded.
of cutting below list rates
it is
instance of a virtual
to Bee
tempt overwhelming competition.
There is another closely allied danger to which trade
monopolies are liable. They may readily stacd in the
way
of improvements in method; the members finding it,
from their point of view, desirable to use up the old plant
and rather than to introduce more efficient means of service.
This effect of monopoly is more seen in the case of patents
pools
trusts.
simplest, but least effective, because
The Standard Oil Company is an almost solitary
monopoly which has been wise enough
the good policy of putting rates low enough not to
nations.
than of trade combinations; the almost prohibitory rates
which the Bell Telephone Company applies to improved
There is always a certain amount
transmitters are a case in point.
In this matter, as in
and the suspicion of bad faith generally goes so far as
to many others, there is a real analogy between the action of
make this system useless as a means for harmonious
trade combinations of capital and that of trades-unions of
action in the trade.
A
when once
it
pool
is harder to arrange,
but labor.
If you give a man command of the market,
not so easy to evade. The whether he
be laborer or capitalist, there is great practipool undertakes to remove the temptation to
cut list cal danger that he will try to restrict production rather
prices by so dividing the traffic that any
secret rate- than extend it; to cling to old methods rather than to incutting will involve a loss rather than a
gain to troduce new ones; and that any gain in stability will be
Uie firm which prtctices it.
Pooling agreements offset by a sacrifice
established
is
in efficiency.
'
—
JCLY
28,
/
THE chkoni(;lk.
IBM. J
Tae
LARGE CURRENT IRON PRODUCTION.
96
intin point of interest in this table it in the
parison with the years preceding
comThs output is
1847.
some satisfactory over 428,000 tons greater than in the Ont six months of
The dinainution in 1886, and over 1,230,000 tons greater than ia the first six
features ia the iron trade after all.
iron
and
steel
for
railroad purposes, months of 1885, compared with wtiich latter psriod the
the demand for
coupled with the decline in prices (Cio. I foundry pig in present year's production shows an increase of nearly 60
If statistics
are any guide, there are
Philadelphia standing in Jane at $18 00 a ton, against
$21 00
January, and steel
in
rails
down
being
to
$30 00
a
December, and $30 00 about a year
ago) had given the impression that the trade was in a
very inactive state, and that production was falling off.
ton, against
$32 50
The Iron &
prepared the
Steel
in
now
Association of Philadelphia has
statistics
covering the output in the
first six
As
per cent.
has occurred,
regards the fuel used,
while on the other hand the
cite,
We have stated
above that there has been a large
ing off in the production of steel
of careful attention, for
1,
new
consider the falling off in
The production
net tons of 2,000
railroad projects.
for the half year
lbs.
If this be
389,493 tons
;
is
shown.
put at 3,382,503
year, a
Such a comparison
rails
Tnis latter circumstance
is
from the manufacture of
rails.
rails
fair,
the last half of 1887 was
in
—an average of about 1,500 miles of track
per month being
—so that a
and extraordinary
laid
special
for iron for this purpose
first point,
was created.
But, waiv-
the latter will account for
the whole of the falling off noted, for
it is
decrease occurs entirely in Besaeaier iron
—
more than
a fact that the
— the
form used
chiefly in the manufacture of rails
the output of foundry and mill pig being somewhat above even the heavy
production of the last six months of 1887.
Comparing, however, with the first fix months of last
year
which is both more na',ural and fairer we find
scarcely any decrease at all.
In ottier words, the total of
—
—
3,382,503 tons for 1848 compares with 3,415,210 tons for
1887. Tne close approach to last year's aggregate is surprising,
first,
because even on this basis we do not avoid the
a diminished demand for iron for
objection arising from
rail purposes, and secondly, because last year's aggregate
had been the heaviest ever reached in the first six months.
We shall show below that the make of steel rails in the
half year of 1888 was only 775,261 tons, against 1,144,080 tons in the corresponding half of 1887 that is, there
was a falling off in this item of 368,819 tons. Yet in the
—
face of that fact, as
only 32,707 tons.
Tons of 2,000
Btasemer
In that particular indeed
it would appear as if the six
months of 1888 must stand as the best in our history.
There has teen uo very large increase, either, in the
amount of unsold stocks in manufacturers' hands, which
now
401,266 tons, against 338,142 tons at the
264,717 tons June 30, 1887, and
470,421 and 692,916 tons respectively at the same date
stand
at
beginning of the year,
in 1886
and 1885.
and stocks for a
Ingots, second 6
The following
series
of
shows production
past, by half-yearly
table
years
periods.
1888.
18l7.
1886.
1,384,288
1,637,572
1,680,785
1.073,8d3
1,487,830
763,944
038,413
3,288,337
8,511,493
1,701,789
1,144,080
707,447
1,146,117
1.042.452
458,440
628,161
l,T49,8i«
1,074,607
months
Total year
778,861
Rails, second
months
Total year
Tnus
8,290,197
wliile
1888.
1887.
2,000
1887 has decreased 368,819 tons, the production of ingots
has decreased only 253,284 tons.
This, however, hardly
conveys a
demand
full idea of
the increased
general and miscellaneous purposes.
1836.
1885.
According to that statement, after allowing for
years.
the usual 12^ per cent loss from oxidation and conversion
of crop ends, the quantity of steel
Arriving at the result for this
find that 435,991 tons must
have gone into other forms of steel than rails in the six
231,400 tons in 1884.
year in the same
months
months
way we
of 1888, against only 288,796 tons in the
of
1887
— which
is
and
iron
few wteks ago, in compliance with m*ny requests,
we commenced giving
in the general investment
ing our readers will find this compilation of value, we
purpose making every endeavor to have it complete
albeit the a' tempt is
attended with no little difficulty,
inasmuch as bond drawings not infrequently take place at
irregular intervals and without advertisement.
We say,
road bonds primarily
t
$
1.745.561
1,261.308
1,011.787
278,238
283,4*8
1U6.8U1
703,217
186,291
H,4 15.210
3.^7I,»96
2.961,200
8,411,119
2,150.816
2.3-9,053
surprise to learn that so
7,187,806
e,aeS,328
4.52U.8B9
drawing
401,286
264,717
470.481
852.704
we
shall consider
—prominent
1,201,443
Umold stoclu—
692.916
416,818
news
columns of the CnBoxrcLE the numbers of bonds of leading issues drawn by lot and' called for payment. Believ-
l,9S0,83a
Jane 30
steel operations for the first
SINKING FUNDS AND CALLED BONDS.
A
«
months
six
half of the current year.
992,461
Total 13
same
a surprising rate of increase.
reason to feel dissatisfied with
little
2,111.8f4
8,382,803
devoted to miscella-
neous purposes stood at 587,115 tons for 1887, against
473,907 tons in 1886, 414,435 tons in 1885, and only
plK
Charcoal ptg
Total flr«t half year
Proiuctlon last half
for
Chhonicle of March 17 we gave a table to show what de-
Bltumtnous pUe
Am hructt«
for steel
In an article in the
cided progress in this respect had occurred in recent
be informed of any omissions.
(i«.
1
1885.
the production of rails as compared with
therefore, at the outset that
Tom 0/
liM.
Sitel Production.
we see, the production of iron fell off Altogether there is
Hence it follows that there must have the extent of the
been a heavy and important increase in the consumption
of iron for purposes other than the manufacture of rails.
give below the out-
1885.
unusually ac'ive
ing the
We
for each half year back to
the periods in the two years are not the same,
ftnd railroad construction
demand
shows one of the sources of
the increased use of iron, noted above, for purposes apart
put of both ingots and
hardly
;
quite important and deserving
it
pro-
is
fall-
so has there been
off in the
falling off of
compared with the
duction in the last half of last
however
is
rails
production of ingots out of which the
are made, but not nearly in the same proportion.
we
July
anthra-
of bituminous pig
increase.
a falling
to
make
has heavily increased and charcoal pig also shows a slight
and according to thesa figares the reduction which has occurred, so far from being of great
magnitude, has been comparatively slight, especially when
months
a decrease
q>iite
made with
will be noted, in iron
it
bonds whenever
it
a favor to
We
intend giving
city
and miscellaneous
rail-
possible.
To many who glance
at the
numbers of bonds thus
brought together from time to time
privilege.
it
many bonds
will doubtless be a
are subject to the
They are generally
called in accord-
ance with a sinking fund provision in the mortgage, and
it therefore behooves the investor to keep always a careful
—
THE CHRONICLK
96
[Vol. XL^ir,
mortgages having the drawing sinking fuud, ana less than
Tee abbreviation, s. f. (commonly $208,000 was it actually necessary to employ in this way.
If now it is asked what compiny yearly draws by lot
Sopplemext and elsewhere) should
lookout for the words "sinking fund," as used in the
descrip;ion of bonds.
tised in our Investors'
invariably be treated in a sense as a danger signal, imply-
And even
and
calls in
easy.
the greatest
"Whichever
it
amount
bonds, the
of
may have been two
answer
years ago,
it
is
is
ing unknown possibilities of premature payment.
no such right now the Northern Pacific. Having several issues of bonds
as is true of most railroad bond issues
if
secured in part by land grants this company wisely proa'l, whatever
fund
at
of redemption exists, any sinking
vided for their being drawn by lot and retired with theinvestiga'ion.
merits
and
value,
its kind, affects a bond's
li also agreed that there should
proceeds of land sales,
to
attention
considerable
paying
been
lately
"We have
to be a sinking fund equal to one per cent of outstanding,
hoping
take,
funds
sinking
which
forms
various
the
from land sales in ther
information concerning them in our Investors' bonds (additional to proceeds
—
—
perfect the
and including them in the
Supplement, and we have soma ideas upon them to pre- divisional mortgages
general
mortgages) which should likesecond
and
first
vaTo-day, however, we confine ourselves to the
sent.
the
devoted
to
payment of boads drawa
wise
ba
necessitating
namely, that
riety with which we began
—
by lot. The Fend d'Oreille and Missouri division issues,
having a prior lien on the lands of their respective
usually
cases
such
in
mortgage
The provision in the
prescribes that an amount of bonds of the sinking fund division', as well as the road itself, are cilled at 100. The
which cover all the com.'
issue shall be purchased yearly at or below a stated general first mortgage bonds
price, varying in different mortgages between 100 and 112 pany 'a lands and railroad,subject to the divisional mortgages
per cent, either in the open market or after advertising mentioned above as to a part, and to the rights of prethe drawing of bonds by
lot.
—
for proposals
and,
;
if
this be impossible, that
they shall
ferred stockholders in respect to land east of Bisma-'ck
drawn at 110. The amount of the three issues in the
of the public now is about $50,652,000, but the
hands
Frequently
occasionally at a lower,' rate.
fund charge is not one par cent of this amount
sinking
active
till
a
numbecome
shall
not
that the sinking fund
One fact then is only, but one per cent of the bonds in the sinking fund as
ber of years after the bond is issued.
always to be borne in mind— that the present inactivity well, and is increased yearly by the interest accruing o n
of a sinking fund in drawing by lot, like the inactivity of all the bonds drawn, which, stamped unnegotiable, are
be drawn by
lot
and paid
off,
generally at the same, but
it
is
are
provided
no sign that very vigorous evidences of life held alive for the sinking fund. It should be added, howThe Northern ever, that as the divisional bonds above mentioned, of
Pacific branch line guaranteed mortgages, Duluth & which $4,689,000 are now out, are paid off, an equal
Manitoba, etc., may all for ins'ance ba paid off at 105, amount of general mortgage bonds may be issued.
a volcano,
may
is
not be displayed at short notice.
The total lands earned and still unsold were estimated,
but not for ten years afier date of is3ue, after which
time drawings for the sinking fund will commence which June 30, 1887, at 40,618,921 acres (of which a part is
will retire all the bonds by ma'uriiy.
Here the pro- reserved to secure the preferred sock), aad tha sales
visions are well known, but there have been notable cases
afforded the sinking fund in the
fiscal
year ending that
in which investor s have been misled by bonds containing
day $424,013, the remaining requirement for the sinking
not a word as to their being subject to call, but issued fund, $112,699, having been paid by the company out of
under a deed expressly providing for it. Thus it was earnings. This does not, however, include the guaranwith certain Milwaukee City issues, many purchasers hav- teed sinking funds of branch lines, which received
ing no idea that the bonds were liab'e to being drawn. $100,630, nor $160,000 divisional bonds canceled by land
The Oregon Railway & Navigation first mortgage bonds sales, for, as said above, the proceeds from land sales
of 1879 are redeemable at par at the rate of $00,000 a under the Pend d' Oreille and Missouri division mortgages
year, but the bonds themselves,
existence of a sinking fund,
while mentioning the
a-e applied to the redemption of bonds independently of
say nothing of the right to
the one per cent sinking funds.
them. Cases like this are fortunately very rare.
Next year the second general mortgage bond?, of which
Then, too, anotherpoint is worth remembering: An issue there are $20,000,000, also come under the action of a
of bonds may long remain below the price limit at which one per cent sinking fund, for which they can be drawn
the drawing is authorized or required.
If so, no bonds at 110, in the neighborhood of which figure they are now
call
,
will be called,
and
for years the right of the
company to selling. Of course land sales are not applicable to the
Then seconds till the prior bonds have been retired. It is to b&
suddenly the price at which they are allowed to be pur- noted that though the new third mortgage will have a sinkchased having been passed, the sinking fund drawing ing fund of one per cent after January 1, 1S94, the bonds
takes place, and bonds are called for payment.
The are to be bought, not drawn, at 105.
Louisville & Nashville Company has a number of bonds
Of the other land grant companies only the St. Paul
Bnbject to sinking fund redemption, some of which
Minneapolis & Manitoba can call for payment any considhave within a comparatively short lime come into the erable amount of bond?, though under sinking fund proneighborhood of the drawing point. A few weeks since,
visions very heavy purchases are made by some of them in
$146,000 general mortgage bonds were drawn at 110. the open market. The Manitoba Company in the fiscal
Issued in 1880, the market price did not
exceed this year 1886-87 called $259,000 bonds, and a few weeks
figure tilll 887.
The collateral trust bonds of 1922 of ago we published its latest list, aggregating $300,000.
the same company, which are also subject to
call at
Companies having no land
sell would hardly be ex-
pay them
off
before maturity
may
be
lost sight of.
to
110,
only in January of this year touched that figure,
and
ii is possible that another year will see
them drawn.
Louisville & Nashville expenditures on account
of the sinking funds (under fourteen mortgages for which the
compiny
is responsible,
including those of leased lines guaranteed)
were estimated for the fiscal year 1887-88 at
$585,827, but not more than $330,987 of this could have
been
used
in the
redemption of drawn bonds, only
five of
pected
to
describing.
support such sinking funds as
Yet, in point of
fact,
we have been
the'e are three com-
panies at least whose sinking fund requirements are very
heavy, but, as
it
happens, without involving the drawing
bonds to the same exient. "We refer to the Baltimore
& Ohio (who^e non-drawing sinking fund may better be
spoken of at another time), the Chicago Burlington &
the Quincy, and the Louisville & Nashville, referred to above.
of
.
JcLT
THE CHRONICLK
28, 1888.]
97
The Burlington & Quincy's sinking fund account showed for the last three years and at the end of eacti dtcade from
an income in 1SS7 of $1,3G5,170, of which $500,154 was 1850 to 1880 inclusive.
LENOTII OF BOAD V* OKITKD STATtS AT BUD or TBABA NAMIO.
direct from the company itielf, the remainder being inter«3t on bonds held in tho sinking fund, together with &
It
small amount from a land grant, now nearly sold out.
tho bonds drawn equaled only $167,000 (being part of
two issues, the Burlington & Missouri River in Nebraska
and the Republican Valley bonds), it was simply
because the other issues which m'ght have been drawn at
par to ttie amount of §355,000 (the iDwa Division bonds,
the Denver Extension bonds and the 4 per cents of 1921)
were all purchasable for less money in the open market.
sixes
The Atchison
ally paying
oflf
is
another example of a company annu
a large amount of bonds drawn by
lot.
An-tlan*.
18S0.
1860.
1970.
1
1880.
IShS.
MUfi MUw. ItUtM.^lfUU. MUt:
1880.
1887.
VUa. MOn.
».aio
Z,807 S.flOO <,494| bS»Z,
e.8S>l <V4M
New EnRland Blatea
3,208 e.TOS lO.HM 1&.8T!i 10,038 20,088 SOMS
Middle States
'S.OSB 833N 11,171114,778; 20,8111 ««,I4S S83K>
Southern States
Western Slates* Territories. ..|l.S70|lM0n i\JKnm,V». 75,500 82.0U7 UIJ«
Paclllc States
Gr and
A
Territories
to'al
|
S3
....
1.877
|B.02l|30.BV<ll5:i.HO.'.
4,080
«,8ai
7,807
7,Wl«
03.a01 liiH.»g7 i;t7.9H« IfiO.OOa
Tnis indicates of course growth in a
11
the sections, bat
Western States and Territories ia
which Mr. Poor includes Arkansas and Texas. These
Western States have increased their road from 52,589
especially so in the
miles at the end of 1880 to 91,935 miles at theend of 1887,
Seven issues, including tho Southern Kansas mortgages so that 39,346 miles of the 57,201 milss increase in the
and the new California Southern, are called each year to an whole country in the seven years occurred in that section.
During the last two of these years this growth has beea
aggregate of nearly $340,000, at prices ranging from 10
to 1 12. The Pennsylvania Company calls in something over especially striking, furnishing a marked contrast even with
§100,000 Gs yearly at 105, and many other companies we the years preceding; for instance, while in 1886 and 1887
could name are liable for smaller amounts. On^e other the addition in this Western section was 16,429 miles, in
hand a large number of companies have neither this nor the five years preceding the addition was only 22,917
any other kind of sinking fund, or at least none o! any
The question now arises, are sinking funds an
size.
advantage ? "We think, as a rule, they are not. But we
propose to defer all discussion of this subject until we have
considered the sinking funds in
hope
to
do
all their
forms.
This
we
New England
and Middle
States,
moreover,
making the increase
that account.
in the
West
all
the
more marked on
In a word, the Western section contributed
miles of the 21,515 miles increase in the whole
16,429
coun'ry during 1886 and 1887.
an early day.
at
In the
miles.
the increase in 1886 and 1887 was comparatively slight,
however another striking difference between
1886-7 period in the West.
In the former the expansion was pretty uniform, that is
there was a heavy increase in all the States and territorThe increase in 1886
ies that go to make up that section.
and 1887, on the other hand, was much mere unevenly
distributed, a few leading States and territories having a
very large proportion of the whole. Thus in Kansas the
There
THE GROWTH OF OUR RAILROAD MILEAGE.
In the United States railroad mileage keeps increasing
it is not an easy thing to tell just how many
miles of road there are in the country at any given time.
so fast that
is
the 1881-5 period and the
from the forthcoming volume of Poor's
however, have been published
bearing on this subject, which make it interesting to stop mileage has nearly doubled in two years, the addition
for a moment and consider our present position in that being 3,678 miles; in Texas 1,663 miles were added, in
respect, and the progress that has been made in furnish- Nebraska 1,688, in Dakota 1,563, so that over half the
ing such transportation facilities in recent years.
16,429 increase in the West in the two year?, is accounted
Mr. Poor's figures come down to the 1st of January, for in these four Statep. There are a few other States
ISSS, and they show that at that date the United States which have made heavy additions, notably Michigan and
had 150,502 miles of road within its borders. In the Colorado, but they are much less prominent than those
current year up to the Ist of July, the records, as kept by already mentioned.
the iJafYway .i4(/e, show 3,320 miles additional road con.
Since the first of the year a further change has taken
structed, hence it is no exaggeration to say that we now place.
The West is falling back, and the South and
have 154^000 miles of road. This is not only a very large the Pacific States are coming to the front. The South
Some
figures
Manual
Railroads,
of
but indicates a striking degree of progresa in the had accelerated its pace the last two years, along with the
few years. Of course almost every one knows that Western section, but the increase in 18S6 was only 1,332
we have been building very rapidly, so there is scarcely acd in 1887 1,677 miles. For the first six months of the
anything new in that feature, and yet it is somewhat sur- present year, however, 1,216 miles were constructed in
total,
last
prising to note the aggregate extent
of the additions that
same States according
Railway Age, and this
Missouri, where
354 miles more of new track were laid. In the PaciSo
represented by Nevada,
California,
Arizona,
S'.ates
Oregon and Washington Territory in the statement
find it 150,502 miles.
la other words, in seven years we given the increase was 538 miles in 1886, and 597 in
added 57,201 miles to the railroad system of the country, 1887, For the six months of 1833, 459 miles have
and this, too, notwithstanding that in two of the years already been laid, of which 397 miles are reported in Cal{1884 and 18S5) less than 7,500 miles together were con- ifornia.
strusted.
The average for the seven years is thus at the
Notwithstanding the extraordinary construction of ne.w
high rate of 8,172 miles per year, this average being larger road in Kansas 3,678 mi'es in two years, as already
than the largest amount of track laid in any single year up stated that Siate does not occupy first place in the exhave been made in recent periods.
It was not till 1881 that our mileage reached 100,000
mileE
in fact, at the end of 1880 the total was only
93,301 miles; at the end of 1887, as already stated, we
—
—
to 1881.
Not only mat, but in the last two years 188G
and 1887— ao less than 21,515 (out of the 57,201 miles)
were added that is to say, while at the end of 1887 the
the
to
the
does not include Arkansas, Texas and
—
—
—
—
total mileage.
That position is still held by
though Kansas has more miles of road than Illinois bad in 1S80.
UUnois's total on January 1 was 9,597
mileage was 150,502 miles, only two years before (at railf s, and there is no other State or territory which
the end of 1885), the amount was only 128,937 miles. comes within a thousand miles of this. There are ofHj
Here is an interesting table showing the distribution of three Slates indeed which contain as much as 8,000 miles
the railway mileage according to geographical divisions of road, namely, Texas with 8,350 miles, Iowa with 8,291
;
tent of
Illinois,
its
21
. .
.
THE CHRONICLE.
98
Kansas
miles, andj
wim
stands fourth in the
8,119 miles, so
list.
Aside from
that the
latter
these, there are
[TOL.
XL\ ir.
In respect to the recent increased production of coal and
Chronicle " cannot regard Mr. Wells' facts as con-
iron, the
of coal, that the statistics
miles clusive." This means in the case
but three other States which have as much as 7,500
given in the " Statistical Abstract of the United Kingdom;"
York
New
of road: Pennsylvania 7,993, Ohio 7,606, and
"The Reports of the U. S. Geological Survey," and in the testimony of Sir Lowthian Bell before the "Britisli Commission
7,676.
In the sections where new railroad construction has on the Depression of Trade in 1886," are not conclusive; for
are the facts presented by the above authorbeen especially heavy, like Kansas and Texas, there "Mr. Wells' facts"
ities.
The Chronicle very wisely, therefore, has not atextent
some
been
to
work
has
the
can be no doubt that
tempted any specific refutation of my statements in this
overdone that is, railroad facilities have been supplied particular; but attempts to weaken their force through accuand yet as illustrating the sation of inaccuracy in respect to another matter, namely the
in excess of present neede
room there is for d evelopment and settlement, it must not increase in the average output of coal per miner in the British
be forgotten that the area of the States mentioned is much mines from 1873 (misprinted as 1870 in the text) to 1884, by
table of other and alleged discrepant results,
greater than that of the older States with as large or a presenting a
from reports " quoted by Mr. Jeans and others." In
made
up
in.
for
Illinois,
with
Compare Kansas
larger mileage.
answer to this I would say that my figures from 1873 to 1880
stance, and we find that the former in size is nearly one-half
are in exact accordance with the estimates made by Mr.
larger than the latter. Hence, on the basis of area, Kan- Meade, the assistant keeper of the Mining Records of Great
sas would need to have about 14,000 miles of road as Britain, and presented to the British Trade Commission in
•gainst Illinois's 9,597 miles before the relative extent of 1886; while for the average for the five years preceding 1884,
road would be the same. In the case of Texas the area in the absence of official data, unofficial reports believed to be
reliable were adopted, but which nevertheless were presented
is over 4J times that of ,;IllinoiF, and that State would re" as reported." And in this connection, I would note that
quire about 44,000 miles to place it on an equality with while
the average individual output for the five years precedIllinois in that respect.
Of course it is population and ing 1884 given by me as reported was 322 tons, the same Mr.
—
trade
—and
the area
is
—
not mere area
at least
— which
counts for most, but
an important circumstance in showing
the possibilities of development which the large extent of
In the same way, and as illustrating
territory affords.
the
room there
is
further extersion of the railroad
for
system as a whole, with the enlargement of the population
and the Expansion of trade and manufactures,
interesting to
it is
note that to give the entire country the
same proportion
of road to territory as Illinois
nois has not the dencest mileage
—
—and
Illi-
would require the raising of our total mileage from 154,000, as now, to about
Jeans in a paper read before the Royal Statistical Society in
1884, stated the average output to be a much larger figure,
namely 853
tons.
IMPORTS AND EXPORTS FOR JUNE.
The Bureau of Statistics has issued its detailed statement of
the foreign commerce of the country for the month of June,
and the six and twelve months ended with June 30, 1888, as
well as comparisons for the corresponding periods of the preceding year, as follows.
cover the Government's
The
figures for the twelve
MERCHANDISE.
500,000 miles.
For
For the 6
For the 1
Months ended Months endtti
the
month of
Jum 30.
June.
ECONOMIC DISTURBANCES SINCE
1873.
1888.— Exports— Domestlo
$43,645,188
9Sl.Ga4
Foreign
[David A. Wells in Reply to the Chronicle.]
v.*
estimates quoted by me as to the increase in
recent years in the world's production of wool are not chal
lenged by the Chronicle; and yet the minima (by Sauerbeck.
of 20 per cent between 1873 and 1885, and the maxima (G.)
& Co. of London, a more generally accepted authority) of 35 per cent from 1871-75 to 1886, are in
a larger ratio than the concurrent increase in the world's population. The estimates of the latter authority are, further,
that while the wool product of the world from 1871-75
to
1886 increased 35 per cent, the increase in the world's con.
aumption of wool from 1860 to 1886 was in the ratio of 30 per
Helmuth Schwartz
,
cent.
The Chronicle, however, seems to think that a point in
favor of the anti-crusade against silver may be
found in the
fact that the stock of wool in Europe at the end
of the year
1880 was 207,000 bales, while for the end of the
year 1885
there were only 180,000 bales. But to this it may
be replied,
that when the supply of any commodity exceeds
by even a
very small percentage what is required to meet
every demand
for current consumption— specially in the
case of a stap'e
commodity like wool, whose every variation in supply
and
demand is studied every day, as it were microscopically
by
thousands of interested dealers and consumers-it
is the
price which this surplus will command that
governs and fixes
the price for the whole; and as this cannot
be sold
readily— as
under such circumstances no one buys in
excess of present
demand, and all desire to dispose of accumulated
stocks-the
result IS a decline of prices, in accordance
with no law and
which will be more or less excessive, or permanent,
aa opinions
vary as to the extent of the surplus and
the permanence of
the causes that have occasioned it.
""?," """ *" '"'"'' **'• ^'*"*' '^'°'«'''* "P°» ^^' wUch o^^ii^y
coin
oonsKlerable space, we KivetbU week only
a very smaU Instalment of
print the remarks upon Iron in
to
onr nex issue, and to publish the remainder
ol hi. contribution
'"uuon in
iTthe
tne
•nooeedlng
hU commupleaUoD. We hope to
number.-ED. Chbosiclk.
C
June 30.
f304,5.=i9,!)74
$683,88-2,238
6,.503.(!6.5
12,092,383
$44,026,8-22 $3Ii,Or,3,639 $f.95,974,619
62,S33,162 372,52(i,859 723,865,146
Total
Imports
Wool.—The
months
fiscal year.
Excess of exports over Imports
Excess of imports over exports $18,206,340
61,463,220 $27,890,527
1887.— Exports— Domestic
$47,096,490 $323,997,430 $703,022,923
ti,3it2,634'
Foreign
861,440!
13,l(i0,288
Total
$47,957,930 $330,390,064 $710,1'-3,'^11
Imports
61,232,444! 357,4s0,191 692,319,768
Excess of exports over imports
$23,B63,443
Excess of imports over exports $13,274,514
27,090,12-
GOLD AND SILVER—COIN AND BULLION.
1888.— Exports— Gold— Dom.
.
Foreign
Total
Silver— Dora
Foreign.
Total
Total exports
Imports— Gold
SUver
Total
Excess of exports over imports
Excess of imports over exports
1887.— Exports— Gold— Dom.
.
Foreign
Total
Silver— Dom.
Foreign
Total
Total exports
Imports— Gold
Silver
Total
Excess of exports over imports
Excess of imports over exportx
$12,S60,084
$2,990,650 $10,667,2:
163,626
4,098,710
4,300,OU9
$3,154,276 $14,765,935 $16,860,093
$10,213,271
$2,007,575
$20,635,420
115,257
3,709,123
8,580,179
$2,122,832 $13,922,394 $29,215,599
$5,277,108 $28,688,339 $46,075,692
$293,170
$5,040,992 $43,934,817
6,158,506
15,403, 169
916,088
$1,209,258 $11,199,498 $59,337,98ff
$4,067,850 $17,488,831
$13 62,294
$533,389
$3,198,602
15,705,304
3,963,455
3,995,88a
86,947
$620,316
$7,162,147
$9,701,187
$1,383,206
$9,296,818 $17,005,036
2,-143,086
9,291,468
364,348
$1,747,634 $12,239,904 $26,296,504
$2,367,950 $19,402,051 $35,997,691
$505,253
$5,995,974 $42,910,601
17,260,191
982,596
7,527,451
$1,4S7,84> $13,523,425 $60,170,793
$88. ',101
$5,b78,626
$24,173,101
TOTAL MERCHANDISE AND COIN AND BULLION.
1888.— Exports— Domestic
$48,643,413 $325,440,470 $717,077,740
1,2611,517 ^4,311,498
2 4,972,571
$49,903,930 .<:3 •9,751,968 $742,0.')0,3
Imports
64,042,420 383,726,357 783,203 ,132
Excess of imijorts over exports
$41,152;821
Excess of exports over lmport» $14,13 8',49 01 $43,'974",389
1887.—Exports— Domestic
$49,013, i45|$336,492,940l$725,733,26S
Foreign
1,312,7351
13,2^9,175|
26,447,639
Total
$50,325,880 $349,792,115 $75 ',180,902
Imports
62,7-20,293 371,003.616 752,490,560
Excess of exports over imports
Excess of Imnnrta over exportg^$i 2,394, 4131 $21,211, .501
$309.658Foreign
Total
.
1
1
,
JohY
THE CHliONICLF.
iS. 1888.J
IMPORTS AKD
mrORTH Br
Odstohs Dim
PttlNOrPAL 0D8TOMS DI8TRI0Tg.
June
Jvmt
8(X
1888.
Baltlmore,.Md.
Boston. .Miiu.
BuffHloCk.N.V
,6«3
12,5;)5.h20
',77m
'.:ki
ai.ois.itti)
rt.o4:t,0W
Chniiilirii.N.r
'.•'•Wl
ChiirlB»l'ii.8.C
,MJ
Delniil. .Mich.
,455
,474
nuUiih. Minn.
,881
0«lvt*»t.'ii.Tox
,MW
Wllw k.'o.WU.
38^
oon
Mlinrs'ii..Mlnn
t2;,.vi.^
1.1112.571
i.Ti'i,r>'.n
rj.-.;t.ai«
i5.ioi.,*'OJ
i,a,i2,o;i7
ii.iii-''>.;i->
8,709.775
8.801,748
15,701.1*'
89.519
705.309
SHU.U-8
.S.Ml:l,li95
801,481
8,557.414
79,.'ilH.H0«
8011.488
Hl.Mil
S.10I.8I8
8.31111.889
18,902,888
S1.2.^7.4.'j">
l,8.1l,W17
74|45ll.««8.tlll 310.1127,1711 316,.'M7.21«
+5 1.20
H2.N27
3,5l>a.lll
,3711
Noi^uU. V»...
12,:i«8.:l8.S
Oti.D.Vl'
445
8:il.4:w
1.1,S2.23I
01 '^
8..5»)..'a;
,3»»<>
4.5W.319
1.7S7.1M1
2.H2.71K1
39,0,3ii.3tU
88345,861
!».
,121
l>iirtl.iri.l..M|...
,83i
2,1
St. I.,.iits.M...'
,50-,;
3,2«.),17fl
San Krjin..('Hl.
BaTHnnuh. Hh.
,1103
1.4at.:Mli
85.428.8^1)
1,651,113
8.161,335
88.711,041
;;ii.v.'A'I-<
I. (lot .11.18
23,78:1.31:1
l.c.02.79.5
4.iiii).jto
8.111.3(1;)
5.135.K4.i
8,w02.»7a
7,452.0
21.1.7115
,;ia«
WllmCK'n, N.C
Torktown, Vft.
.2,*3
5,572.»1H
381.847
135.014
,laai
I,.3o7.ast
1,1117.0
a-.B«i.89i
,727
Vornioiit. Vt..
15,420,110
411,707,708'
0»',3»S
Wlllttmette.Or
849,1112
0,0t<M.a:)2
1
ftll
m«U.) 6?,833,168 44,686,888 783.868.1461692.319,768 a8a.974s91 9 716,183,811
$36,4S7,6fil
BenialnlnKln warehonae June 30, 18S7
$-lO,01!l,.5yO
Beiuaiiiins: in warelioiise Jiiuo 'M, 18SS
* iiiteriiir i>ortr< ui nriilcli lUBniUaaillso oiiu be transporteu wiiuoui
ai>prai:4i'iuont, under act of Jiino 10. IdSO.
colleotinK
t rncimipli-te ill tlui rtOnencB nt law provliliait the insaris of
oUl'r
tbeautirtiics of
oKpiru
and othrT luod
veliioles.
to aitjacout forulga turritory
by railroad
oar.s
ptaactar35®amm«rciaXgn0Xtstx||^ettis
[From our own correspondent.J
London, July
The tightness
in the
14, 1888.
money market, which continued up
to
the end of last week, has been followed by extreme ease. The
demand has slackened, and the July payments of interest and
dividends have added largely to the supply of free capital.
Lenders are therefore complaining of difficulty in securing
renumerative terms, and on Monday the India Council lent
a million sterling till Aug. IS at the uncommonly low rate of
The Bank return issued this week
1 per cent per annum.
indicates by the increase of "other deposits" an addition to
the market resources of £3,136,000, and shows that the
open market has repaid nearly £700,000 borrowed in anticiThe open market rate of discount
pation of dividends.
for three months' bills has eased of to about IJ^ per cent, and
this rate contrasts with the Bank of England minimum of 2%
per cent. Except that the Bank rate is used as a measure of
the charge to clients by] country bankers, and prevents
recourse to the Bank for discount accomodation, the retention of the rate so much above the open market rate would be
useless.
As it is, the inaction of the Bank directors at their
meeting on Thursday this week may be due to the desire to
keep control over the bullion market, it being necessary to
guard the Bank's stock of bullion with g^eat care; for it now
amounts to less than £31,j)00,000, and considerable sums will
have to be sent to the River Plate by financial houses who
have floated South American loans. Last week there was an
unexpected withdrawal of £300,000 from the Bank. No more
has yet been taken from that source, but all supplies in the
open market have been absorbed. For a day or two Holland
was here for gold and took some small amounts, but the
demand has ceased.
The following return shows the position of the Bank of
England, the Bank rate of discount, the price of consols, &o.
compared with the last three years
:
Olronlatlon
QoTernment
RMerve of
aecarltles
notes and coin
1888.
1887.
1886.
£
£
£
llabilltlea
a5.S40.5M 35.597.815
6.149.953
27.103.404
4.625.941
86.8I5.«10
17 48."^ 851
4..80.59'<
18.719,589
19,108,453
19.1H1.S39
19.915.1621
29.398.8)5
4,883.976
82,.'t.18.1l.5'J
18,457301
88«
8XP.0.
p. o.
rate
Clearlns-Boase retarn
1889.
£
85.114.065
81.401.388
Prop, assets to
Bank
quarter of a million in its current and deposit accounts, which
stand at £5,391,000, while its acceptance business has reached
Other minor banks also show increases in
and current accounts.
Banking companies in London vie with one another in
publishing their accounts at the earliest possible moment,
and several of the dividend announcements ai-e made within
seven days after the close of the half-year. The railway comabout
£2,3.50,000.
their deposit
panies are also very quick in the production of their accounts.
The manner in which the accounts of English railway com-
(In-
oludinff
formerly, hai deposits reaching £13,074,000, in contrast with
the NatiouHl's £13,047,000. Joint-stock bank returns show
that the public is leaving ita money idle to a considerable exThe Union Bank of London has a million more in detent.
posits and current accounts than a year ago, the total thia
year being over £14,000,000. The City Bank, which does a
very large acceptance business, shows an increase of about a
I
Oreuon, Ores..
09weim'le,N.Y
Osweuo. N.V..
Totula,
i.toi.jij
8,48>t,U4U
8,&SuAio
T4«
Drl'ns. t.u
Y..rk..N.V
Mliuiara. N.Y..
:t87.:ioi)
3.;i.'.ii,zMii
Mobllo. Mil...
New
New
*
51.«07,149
68,157.3*41 59,001.505
ii.Toi.i;'.;
Chk'iu(<'. 111.
(Mlicinnitil. (>.•
30.
1887.
*
4n.'3«.787
ttV
Discount Company has deposited with it for employment is
making discounts and loans upwards of £13,000,000, which ia
an increase over the amount at the same date laat year of
£1,350,000. The Union Discount Company is raiming the
National very close indeed, and instead of being behind, as
la mrmttu MuHntf
TBirTH AKU
Pouts.
Plillnilfl'ii.
7
87,488,812
40«
89
8M
8 p.a.
100}<
lOIH
120.528.000 l00.94O.0O0
45«
P.O.
8 P.O.
101 5-16
94.875.000 113.387,000
Among
the multitude of financial reports for the first half
of 1888, those of the two great discount corporations which
virtually monopolize the discount business done by joint stock
companies other than banks
call
for notice.
The National
panies are presented, the safeguards taken for the protection
of the s'ockholders, the efficient audit provided, and the compulsory uniformity of accounts are all points which American
managers might imitate, and which if acted upon
would improve the credit of United States railroads.
railroad
In the stock markets, there are Indications of a revival of
speculation in American railway securities.
The English
public has so far befn doine very little in this market, but a
considerable business has been transacted for foreign account.
It will be recollected that in the autumn of 1886 operators on
the Paris Bourse had large commitm-^nts in American shares,
and one of the flrin of the Paris Rothschilds, through various
London brokers, entered into "option" transactions to the
extent of many thousands of shares. At no time since has
there been any appreciable amount of business for Continental
account, but this week buying orders have been received from
Germany, Holland, and to a slight extent from Paris. The
general opinion of dealers ia the London market is that betta:
prices may be looked for, and that as soon as the market shows
clear signs of a recovery likely to be sustained, the public will
come in. In the first place the range of values of foreign
government securities is so high that there is no chance of
any further rise sufficient to encourage speculative purchases.
On the other hand, American securities have had a very long
period of depression, and prices are at a low level. Speculators are therefore beginning to cease in the effort to force up
the price of government securities and are turning their attention to American stocks. In well-informed quarters it is
expected that this will continue, aad that astute operators are
going before evf nts. People are all talking of an improvement as soon as the electioneering excitement is over, so that
an expected improvement later in the year is being discounted.
The Interoceanic Railway Company of Mexico having been
taken in hand by a syndicate of London capitalists, offers
through Messrs. Murrieta & Co. £1,400,000 six per cent mortgage debenture stock, and £800,000 (part'of a total of £1,000,000) seven per cent accumulative preferred shares.
The stock
is offered at 97 per cent and the shares at par.
The remaining £300,000 preferred shares, as well as £1,500,000 common
stock, will go to the contractors.
This capital is expected to
be sufficient to complete the line from Vera Cruz, via Mexico
City, to Amacusac, but eventually more capital will be sought
to extend the road from Amacusac south of Mexico City to
the Pacific coast at the port of Acapulco. The issue has not
been received with any amount of enthusiasm, and it is
thought that the public will not take up the whole amount,
which, however, has been " underwritten," so that the scheme
will be proceeded with whatever may be the response of the
public.
For years the concessionaires of the Interoceanic
have been endeavoring to raise money in Paris, but without
success.
Now a well-known London speculator, with his
friends, through a London firm of stock-brokers, has entered
into the enterprise, whether or not wisely remains to b©
proved.
J
—
This week we have had snow in parts of the country snow
in July. This will express the state of the weather more
graphically than any elaborate meteorological report. The
rain and cold is doing much damage to the crops, already
backward. But though the harvest will be quite three weeks
.
.
.
THE CHRONICLE.
ICO
a period of hot weather will do much to retrieve the poPrices have
sition both at home and in Western Europe.
present time
sh'ghtly hardened, but there has been up to the
no flurry in buying, and speculation is very quiet. The
this
•Gazette average is still quite 10 per cent lower than at
Exports.
last year.
The following shows the imports of cereal produce into the
United Kingdom during the forty-fl^e veeeks of the season,
ithe sales of home-grown produce. &o., compared with previous seasons:
IMPORTS.
l«84-5.
4S, 233,504 47,664,025
9,287,615 15,166,371
14.951,045
9,068, 23 11.182,480
11,896,096
1,774,981
2,-^33.570
1.734,263
3,007.498
2,246,016
2,778,238
26,194.744 26,001,517 23,083.457
14,839,197
14,933,315 12,S 60,851
1886-7.
44,30(3,169
1887-8.
cwt. «.^62,62,
"Wheat
Barley
Oats
17.4,13,143
15.250,754
2.727,490
^eS:::::::::.-.:
^eans.
•Indian
2,3Hfi.550
S0,C69.7U
com
15,1)46,735
,„,„
Flour
188.')-6.
,
Supplies available for consumption (exclusive of stocks od
^S^ptember
^
1):
-.oorro
1887-8.
1886-7.
1884-5.
1885-6.
Imports of •wlieat.cwt. 41,562.625 44.396,169 43,233,504 47,664.025
15.646 735 14,033,315 12,360,8 4 14.839,197
Imports of Hour
2i»,550,232 38.085,376 37,12.5.367
'fiales of home-grown. 35,451,429
92,060,789 88,879,716 93,079.734 99,628,589
1881-851886-87.
1885 6.
1887-88.
week. 3 Is. 5(1 343. 2il. SOs. 9(i. 33.s. 8il.
Total
^ver. price wheat
^ver. p rice wheat
Od.
333.
6d.
season. BOs.
8d.
303.
33a.
2d
.
Knallsb Financial narKets— Her CaDle.
daily closing quotations for securities, &c., at London,
»are reported by cable'as follows for the week ending July 27:
The
London.
d.
•Con8ois,new 2S4peret3.
for account
do
42
998,6
Fr'oli rentes (in Paris) fr. 83-60
109 12
130
4i2Sof 1891
U.S. 48 of 1907
•Canadian Pacilio
U.
S.
& St. Paul....
common stock
•Chic. Mil.
.-Erie
Mon.
Tuei.
42
993 16
42
Sat.
Silver, per oz
Illinois Central
9:'58
99-'is
99^7i«
42
8370
lOflJa
109%
130
130
I3OI4
2734
12134
10934
1301*
6OI4
73»8
2778
12258
55 13
321a
109
109
59%
73%
73 18
27 »a
7II3
27
12 I "4
5513
121
55 14
3113
109
32%
109
999,,
995a
83-80
999l8
999,6
83-7ii3
58^8
Fri.
42
99=8
83-75
58:U
5514
Pennsylvania
yiiUadelphla & Beading. 31=8
York
Central
lOt-%
•Jf ew
Thurs.
9958
83-70
lOOHi
58 34
71^8
27 14
1211-2
Wed.
-42
109%
last
advices
74 13
28%
55
>ii
5,i38
3:514
32%
109 14
:3,910—The Citizens' National Bank of LatroVie, Pa. Capifal, $50,0 00,
John W. HiiKiies, President; Joseph E. Barriett, Cashier.
:8j911— The CDmiiiercial Natioaril Bank of .Saginaw, Micli. Capital.
.$100,090. Daniel Hardin, President; Mclvin O. Robinson,
Cashier.
Imports and Exports for the Week.—-The imports of last
•week, compared with those of the preceding week, show an increase in dry goods and a 'ecrease in general merchandise. The
total imports were 18,30.1.553 against $S, 3-31. 672 the preceding week and $9,98(5,147 two weeks previous. The exports
<or the weak ended July 34 amounted to$').-J89,33-'5. against
$5,167,183 last week and $o,2U,6.j7 two weeks previous. The
•following are the imports at New York for the week ending (for dry goods) July 19 and for the week ending (for
'«:eneral merchandise) July 20; also totals since the beginning
•of the first week in January
FOREIGN I.MPORTS AT NEW YORK.
For Week.
1885.
1886.
1887.
1888.
:
I
)Dry Goods
*2,301.2-.4l
1^2.779,370
0.910,768|
7,163.375
'Qen'l mer'dise.
Total
Bvnce Jan.
4) ry Goods
$2,835,373
5,557,300
82.991,270
5,314,28^
$8,272,022'
$9,942,745
$8,39'2,073,
$8,305,558
$53,644,219
150,3J6,408
$64,499,022
177,919,416
$67,704,588
194,707,65 7
$72,720,009
Sinee Jan.l
$21,911
110,589
85,578
149,474
22,.";68
154,336
West Indies
Mexico
South America
13.4.53
9,000
All other countries. .
44,309
429,422
11.938
679.610
12,880
S117.600, $6,484,778
126,900
5,902.307
162.900
6.058.412
Total 1888
Total 1887
Total 1886
!B12,S80
170,413
5,721
$1,072,553
1,287,396
875,573
Of the above imports forthewe^'k in 1888, $356 were Ameriotn gold coin and $424 American silver coin. Of the exports during the same time, $31,813 were American gold coin.
—
Mr. Roderick H. Smith, in the Kemble Building, No. 25
Whitehall Street, has just published an intf resting chart
designed to show the course of business in this country for the
The subjects covered are: The price of pig
last thirty years.
iron; failures among traders; the number of immigrints each
year, on authority of Government reports; the average price
New
York banks, &c. By
rf railroad stocks; clearings of the
the aid of this chart one can compai-e the several subjects, one
with another or one with all the rest. The price, plain, is
$1 50; mounted on card-board with hangers, $3. Copies can
be obtained of the author.
&
— Messrs.
&
Schley, of this city,
Moore
Co., of Boston, offer for sale a limited
and Irving A. Evans
amount of Western
Union Telegraph Company 5 per cent fifiy-year
These bonds are secured by
trust bonds, due 1938.
securities with the Mercantile Trust Company.
collateral
deposit of
—
United States Sub-Treasury. The following table sho-ws
the receipts and payments at the Sub-Treasury in tliis city, as
well as the balances in the same, for each day of the week:
Balances.
Date.
Payments.
Receipts.
Coin Cert's
Coin,
Currency.
$
July 21
" 23
" 24
" 25
" 26
" 27
Total
2,207,521
2,343.569]
2.235,152
2,403,174
1,976.706
2,057,592
1,976,071
2,014.083
1,967.154
2,0i0.01&
2,423.299
1,674,484
13.223,714
12,105.110
Anction
Sales.
M
Iby
—The
ssrs.
157,736.199
157,749,706
16,035.073
10,221,952
157,9ri6,662
16.22''.,449
158,177,223
16,219,004
15,663,974
15,t92,936
158. •-'05.457
158,155,878
following were
Adrian H. MuUer
&
Lumber Co.,
lOIrvinKBank
8 Pottier
i:
Co
.
,
97
N.
.
Y
50
15213
16
30
9
20
O
Stvmus Mfg. Co.
2 Brooklyn Bank
2 0ons'aidafed Gas Co
2 Standard Oil Trust
200 Horteuse Mining Co
1
ISOia
7534
177
$3
Co
05
Ijehls-'h & Hud. Riv. ER.
25
Howard Insurance Co
80
Niagira lusur.moe C0...II9
Oxford Iron & Nail Co .$25
Anchor
Oil
.
.
11 Nat. City Bank of N. Y'..355i4
25 Beech Creek RR. Co., com.
$15 per share
39
Cleartield
Bituminous
$5 p. sh.
137
Coal Corp., pref
1 Alliauco Ins. Ass'n
^miMvLQ
l»l,050,7;t4
•Jotalj9 weeks. $210,040. 6 17;$2 12.413 438 $262,412,24 5 $266,770,803
The following_ IS a statement of the exports (exclusive of
•epecie) from the port of New York to foreign ports for th e
week ending July 24, 1888, and from January 1 to date:
19,5H3,.541
151,643,745
19,747,470
at
:
/Shares.
Ins.
2t N. Y. Bo^wory Ins. Co
1071-2
do
do
107
20
10 Western National Bank.. 94
50 Uarleni Llght'g Co., com. 40%
25 Har. Light'g O- G% pret 68 13
50 Horace F. Burrough's
i
19,237,852
19,366.958
19,41:^503
recen'ly
sold
Son
Shires.
40 Stuyvesant Fire
1.
•Oen'l mer'dise.
Week.
1.
$5,559,424
274,059
Germany
auction
:
I
$131,800
6,800
Great Britain
France
I3OI4
®0mmerctal and JUlscellancatts Mzws
National Banks. —The following national banks have been
organized since
Since Jan.
Week.
X59
123
Imports.
Silver.
late,
time
[Vol. XLVII,
23 Fidelity & Casualty Co 80-95
500 U. S. Sealed Postal Card
Co
Jlofids.
$3,000 Brooklyn Cilv RE. Co.
IO3I3
Ists, 5p. c., 1902
$2,000 Paine-'ville & Younf-'s-
town RR. Co. inc. bonds.
.'fl,000 Te.Kas Cent. RR. Co.
Ists, 7s, 1909
$2,000 Lehigh
RK.
& Hud.
$205
571a
Elver
Co. Ists, OS., 1911.. 911a
$500 Go.shen
RB. Co.
& Deckertowu
Ists. 7s, 1888. .loo's
$1,000 Wallklll Valley ER.Co.
luort. bonds
$5
$1,000 Oxford Ir n & Nail Co.
53
1st. 6s. 1913
$500 Oxford Iron & Nail Co,
$100
trust ctmort. 6s. 19i'5..
St. Louis Ore & Steel Co.,
68,
$3,000
income, 1917
G eenwood
Co. Ists, 6s,
27
23^
Lake Imp.
20
1894
aixd Ifiaaujcial.
,
^
Tor the week..
CIT¥ ©F COLIIMBITS, OHIO,
KXPORTS FROM NEW YORK.
1885.
.
iPrev. reported..
$.5,252,371
178,6H5,620
1886.
1887.
$7,208,209
164,386.100
164,5-27,848
1888.
$3,888,075
10,
20
&
30
four PER CENT B6NDS.
YEjIR
$6,289,265
156,346,431
Total 29 weeks. $183.917.991 $ 17 1„59 009 $168.415.923 $102,035,096
The following table shows the exports and imports of specie
«t the port of New York for the week ending July 21, and
«ince January 1, 1888, and for the corresponding periods in
1687 and 1886.
EXPORTS ASP IMPORTS OF SPECIE AT NEW YORK.
ASSESSED VALUATION,
NET INDEDTEDXESS, POPDLATIO.V,
.
.
-
S3S,60J.irO 00
.
l,7r!i,08S 36
89,430 00
.
Exports.
Imports.
Oold.
Week.
Creat Britain
France
/Ul other countries.
ta^.ffotal 1888,
'otal 1887..
Total 1886..
Since Jan.\.
Week.
$1,370,702! $6,328,358
26,81-2
105,771
6.318,015
4,992,381
20
136,000
330.1H2
553,204
;,336
*1,503.285 $18,589,850
94.400
6.036.424'
5.000 36.1U0.507
SitieeJan.l.
$1,768
2,006,506
17, .501)
Germany
West Indleg
Mexico
Couth America
[
$138,356
445.717
8,486
917,532
538,812
25,001
191.119
ls4,400
$1,468,771
6.013,017
3.180.805
THE ABOVE ARE A CONNECTfOUr AND MASSACHUSETIS
SAVINGS BANK SECURITY.
For further particulars, caU on or addras -,
GRISWOL.D & OIL,L.ETT,
3
WALL
IbTBEET, N. V.
:
July
Ul
JTasi* of
(Uvldnndii
Company,
l>«ea
annoanoad
Per
When
Otnl.
Payable.
Bookt Oloetd,
{Daye Uulueive.)
40^0401.
Rallritada.
5
6
,
I
Illinois
1 ral
St. I,. .tClilc. pf. (iiUBr.)
I,oiii8villo
&
Mu. K!v.
t>r. t.
KOKr...
Nmihvlllv
N. Y. rr.iVMlcuce A- BoRinn (iiuar.)
Bonui Watertowu A Ogdiiuuurg.
Aug.
Aug.
Aug.
Aug.
6 July 31 to Ang. S
«i
July
15 iug.
1
2 to July
ee|it.
1
Aug. 12 to Sept.
Aug.
l»s
3>9
Aug.
3 Btk Sept.
Aug.
2>s
1
1
2><
3^
3h
l'<' 11
I.K>nitilaiia <&
101
and posted rated have been reduced to 4 80^ and 4 88 ^
There have been no further Rhij>ment« of t(o\d thii week.
To-day the rates on actual businesii were as follows, viz, i
Rankers' 60 days' sterlint;, 4 80O4 Mi; demand, 4 88®4 88^.
Cables, 4 88i(g)4 88i.
Commercial bills were 4 8.'S^®4 85^.
Continental bills were: Francs, 5 21i@5 21i and 5 1SI@5 10|;
reichamarKs, 95@95i and 95f®09i; guilders, 40^40} and
VIDBNDSi
have reo«utly
CIn. Siniil. & (ll•vl^ coin. A pref ..
C«luiiilm« SiiiiiiKllild A liulii...
Cciniirctlc a .t Piismiipslo i>r<'f
Flint .^ I'tio Maiciu(!ltb prel
Knn. City
/
little
ganfeers' ^^ztiU,
'glxt
:
1
THE CHRONICLF.
28, 1888.1
Tbe followliiR
:
,31
1 to
2
3 Aug. 14 to Aui;. 26
10 Aug. 1 to Auf,'. 10
Aug. 2 to Aug. 14
3
Aug.
1")
S
Aug.
Aug.
Aug.
1
Banks.
Corn Exrli^iUKU
Oornian Aim-rican
S
2
Paollio (unar.)
1
1
fuly 2G lo Aug. 1
July 'J5 to Aug. I
July 21 to July 31
uanrance.
6
6
Broadw!iy
IJoyd'H riatp Ola.'a
Ptter Conp.T Kire
6
Aug.
1
On dom.
July 23
The following were the
rates of domestic exchange oiv
the under-mentioned cities to-day: Siivannah^
buying i premium; selling 8 16^^ premium; Charleston,
buying pHr@i premium; selling 3-10 premium; New Orleans, commercial, 50c. premium; bank, fl premium; St.
Louis, 25(3i50c. premium; Chicago, 25c. discount.
United States Bonds.— Government bonds have Vieen almost
entirely neglected at the Stock Exchansc, and the niarkct is
practically unchanged.
A slight rise in the bidding pricea^
for the 4s and 6s is noticed.
The Treasury purchases have
been somewhat larger than last week, though still restricted
New York
at
and of no special significance. The amounts offered and
chased this week, and the prices paid, were as follows:
pvir-
niNCclla neons.
V.i: Tili<i.h(!i,c ^' Telegraph,
Fcnnsylvanta Coal
75o.
4
A
Klon. 88. (quar )
Upltfd Stiitca Kxiiress (niiai )..-
Provlilcnco
WALL
2ig
Aug.
Aug.
Aug.
Aug.
15 Aug. 1 to Ang. 14
1 July 24 to Aug.
1
10 Aug. 1 1o Aug. 10
15 Auk. 2 to Aug. 15
*H Per
Saturday
STKEET. FKIDAY,
July 2r, 18SJ4-3 P. M.
The Money Market and Financial Sltnatlon.—In Stock
Exchange circles the principal theme for comment this week
was tlic Etroutc undertoae of the market on a moderate volume
of business. Ever since the "July rise" commenced, the undertone has been very strong, and whenever reactions occurred
they were of small extent, and prices quickly recovered and
soon took the upward turn again. On the other hand, busi-
Monday
...
—
Tuesday
Wodn'sday.
Thursday...
Friday
$406,000
25.000
817,200
302,200
70I.00O
277.000
Total.
.. $2,028,400
SlnceApr.l6l
The
1888.
July 21.
fr'm
Prev. Week.
We
Diffr'ne't
1887.
July 23.
1886.
July 24.
]07«
107«
25,000
107 2-5
222.000
{
Prieei paid.
»soo;
1*7
1.000
127-127H
1.000
127H
127^
l.OOO
107«
1075^107 2-5
8.«25,80ol
108^4-108
Interal July
{Periods
21.
is
—
25,000
307,2 10
$272,800
15.500
1,000
825.«00
1,000
dii< IS0I7.
O Ti rifif. [Purch'a.
$83»,600
»3,H00.
Il8,746.*)0!
lJ7-127v<i
124-70-12*.
closing prices at the N. Y. Board have been as follow*
large,
very broad.
The chief event of the week, taking a long view of aflrtirs, was
Judge Brewer's decision in the Iowa railroad cases, which simply
amounts to this that when State Railroad Commissioners
establish a tariff of rates the companies can have a hearing as
to whether those rates are reasonable, and pending an examination into the facts the Courts will grant a temporary injuncIt has
tion, if necessary, to prevent the rates being enforced.
been evident for some time past that the conte t between State
authorities and the railroads must ultimately come to this point
of "reasonable" rates, for enforcing arbitrary rates upon the
railroads means possible confiscation, while on the other hand
the Supreme Court of the United States has decided, after
mature deliberation, that States have the right to regulate
fairly the charges of railroads within their borders.
There have been vague rumors this week that Mr. Gould
would give the Street a surprise in a few days, and from Boston
the report comes that it will be a sale of a large block of some
of his securities, after the fashion of Mr. W. H. Vanderbilt's
famous sale of New York Central. There is, of course, nothing
to be found out jet about any such deal, but it would not be at
all strange if he should dispose of a large block of Western
Union stock to enable him to deal more easily with his Southwestern railroads, which have probably contributed not a little
towards making Mr. Gould feel sick.
The open market rates lor call loans during the week on
stock and bond collaterals have ranged from 1 to 1^ per cent
and to-day the rates were l®!^ per cent. Prime commercial
paper is quoted at 4@4J per cent.
The Hank of England weekly statement on Thursday showed
a loss in specie of £453,000, and the percentage of reserve
to liabilities was 39'71, against 39'31 last week; the discount
rate remains unchanged at 2i per cent.
The Bank of France
gained 1,475,000 francs in gold and 8,850,000 francs in silver.
The New York Clearing House banks in their statement of
July 21 showed a decrease in surplus reserve of |1, 294, 000,
the total surplus being $20,440,400, against $27,734,400 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
4 Per Centt
due 18«1.
»a'^H.200:
.
and it can hardly be said that the
•trength amounts to buoyancy or that the scope of the market
ness has not been
CmU
Purch^et. Prices paid.
Ojrwttiffj.
July
July
23.
21.
J
July
2j.
I
July
July
26.
27.
•10738 *107% *10T%
•10738 '107-'8 '10738
127>4 I27I4! 12714
-12714*12714 •127'4
4is8. 1891..
4is8, 1891..
48, 1907....
48, 1907
6e, cur'cy,'95.
68, our'cy, '96.
68, cur'cy, '97.
68, our'cy, '98.
68, cur'cy, '99.
•1073a *10738»1073w.
•10739 M073e,*10-3»
•12714 '12:38 •12738
•Iii7i4 *12738 *127'te-.
•ll9iii,"119>.2 •lllfia •tlOifl *120 1-120
*122>4*122:<s.:'122'« 122iu*123 \'lji
*124is '12413 -125 •125 I' 125 *125
•127>s*127'4 127=8 •12753 *1275(.^12758.
•130 1*130
13018 'Ii0% -130ie *130i8»
This is the price bid at the morning board no sale yiaa made.
State and Railroad Bonds. State bonds have been extremely dull, and there is nothing in this market calling for*
;
—
comment.
good demand and advancing prices continue to be the features of the railroad bond market, and during the past week
many leading classes have made further improvement. A smallgeneral business is done in the higher-priced bonds, and considerable activity shown in a few of the more speculative
classes.
Richmond Terminal 6s and Richmond & Danville 59made further advances early in the week, but subsequently
reacted a little on a report of a hitch in the negotiations
between the Terminal and Norfolk & Western companies. A
few others which have been prominent for activitv and
strength have been Fort Worth & Denver Ists, Mobile & Ohio
general 4s, Green Bay incomes, Texas Pacific 2d incomes and
M. K. & T. general 63. Among the higher-priced issues some
of the St. Paul and Wabash divisional mortgages have shownan improving tendency.
Railroad and Miscellaneons StnclfS.— The bull movement,,
in which there was a halt in the latter part of last week, wasrenewed this week, and prices made further progress in the
upward direction prior to Wednesday, on wnich day there wasa reaction, owing mainly to the sales to realize.
On Thursday
the market was slow until the news of Judge Brewer's decisioik
on Iowa railroad rates was received, and this strengthened
prices throughout the list.
The deci.'-ion is not a final one, but
it is important in principle, inasmuch as it grants a temporaryinjunction until the fact can be a.scertained from testimony
whether the rates proposed by the State Railroad Commissionspecial
A
ers are reasonable.
The excellent nature of the crop reports and bullish sentiment at Chicago have influenced the grangers and they havebeen among the active and strong stocks. Continued report*
rate- cutting are
made, but they had only temporary
effect this week in helping the reaction.
The coalers haveof
come
Capital
60,762.700
6ur]>lUB
4!).6H6,600 Dofl.
tioaus and dlsc'ts. 37!".C3'i.5()0,tnc.
BpeclH
circulation
HetdipoKita
Legal tendnrg
Legal reserve
Beeervebeld
!
941.900
2-.'4,0<)0;355,2 49.800 353,804.000
9],17.'^,4C0pec.2,213.800 77,033,700; 63,978 000
7,652.20C Dec.
8:,5O0
8,121.400
7.817.600
415. '17.2e'OjDeo.3,110,800 36 1.851,500 378.812.000
38,744,300j lac.
145,600 32.551,500 44,995,200
103,77!>,3"0;Deo. 779,200 91,087,875 94.703,000
130,219,700 Uec.2,07b,200 »9,5s5,200 108.973.200
Burnlna re'erre...' 26.440.400 Dec.l,294.000!
— Sterling
8,197,32ol I4,2'0,200
exchange has been weak and tending
downward during the past week, owing to continued dulness and some increase in the pressure from commercial bills.
Higher rates for discounts at London also had some effect on
our exchange market. Actual rates have worked down a
Excliuii^e.
in for a large share of attention, and Reaainahas resumed
position as a leader.
It has been continually strong and
advancing, even when the majority of the market was inclined
toward reaction, and purchases for foreign account are reported
to be the sustaining iLtiuence.
The Richmond Terminals and
others lately affected by the reported deal between the Terminal and Norfolk
Western made a slight further improvement early in the week, and then became dull and less strong
on a reported break in the negotiations. The deal is probably
not off, however, but awaits the action of the Norlolk
Western directors. Louisville
Nas^hville came into prominence on Thursday, and advanced on the declaration of a ft
per cent scrip dividend, payable Sept. 3.
To-day the market was very steady, and prices well main
tained on a moderate business.
its
&
&
&
—
. ...
.
,
JHK (IHKONIOLE.
102
SlOCKS-PEICEiJ AT N.Y. STOCK EXCHANGE FOB WEEK ENDING
HIGHEST AND LOWEST PRICES.
STOCKS.
Active
RR.
Stocks.
July 23.
*9
9
& Paoiflo
CftnailiHU Pacilic.
50 J* 601a
(^na<la Southern
83
83
Central of New Jersey
33%
Central PaclMc
Gbloago Burlington & Qulnoy. ni4iflll4%
Chicago aUlwaukee & St. Paul.
pref.
t>o
Do
83
*9
9
33%
11451 11.^38
Qifil
57
5II4
1
5214!
liar's'
71>4
109
7213!
109%
llO's llO's Ill's 110% 111=8
110
pref.
107
1061s 107% 106% 107
Chicago Rock Island & PaclHc. 100% 106%! 107
Ills 12%' I2I3 12%: 12^8 12'8
•ll5 13
OUcago St. touls & PlttsburK. *32
34I2 341s
35
3313'
34
33
33
I
i
I>o
Cailoago St. Paul Min.
prer.
38I4
3812 39
38% 39
38
IO713 108
>105isl07 * 1061a 108
1051s
*50
51
50
50%
•49
50
50
50
Cleveland Col.Cln.& Indlauap. *23i2
4% 24%
24
24
24
24
24
Columbus Hocking Val. &T0I.
134'8l36
135%'
134=8
13314134%
13312
133%
Delaware Lackawanna & West
*13
18
18
Denver <fe Rio G., assessui'tpd.
48
47% 47% •48%,
48
pref.
Do
10% 10%
10% 11
10% 11
lOOs lO's
Eaet Tennessee Va. & Ga. R'y.
71%
70 14 70^! 7II4 71% 71% *70
70
1st pref.
Do
20% 251* 26
26% 20
26
2d pref. - 25% 26
Do
*8.>
85%
85%
*85
85%
85
851s
85>s
Evans vllle & Terre Haute
21% 2;!l4 22% 26
Fort Worth & Denver City
12
*10%
11^8
11%
11''8
11=8
llSs
11°8
Green Bay Winona cfe St Paul.
119% 120
•117 '118%' 118=8 11^=8' 119 119
Illinois Central
13 14
13
13
*12ia
13
1313;
1312!
121s
Ind, Bloom, tfe We.st
*34
*32i3 33
35
*33% 35
*33is 35
Kingston i Pembroke
15=8
15=8
*15
*15%
15%
1538
15%
1538
Lake £rie & Western
46
46% 46% 46-'e 46 's 4678 47=8
46
pref
Do
94
93
93
93%
93
92%
92=8
92%
14
liake Shore & Mich. Southern.
"94
*94
*94
95
•94
95
95
95
liOng Island
60%
59%
60%
59
59%
59%
59
5-i'e
liouisville & Nashville
41
37% 38% 39 14 40% 41
39
Louis. New All), cfc Chicago... *36
88I4
88 14
8914
Is
88%
88%
88%
88
*S712
Manhattan Elevated, consol.
8314
83
82% 83
81% 81% 81% 83
Michigan Central
>56
*56
•56
60
•56
60
60
60
Mil. Lake Shore &, West
93
x91% 91%
93
93
93
95
94
pref
Do
4I4
4%
414
5
4%
4%
4%
4%
Minneapolis & St. Louis
•913 IOI4
10% 10% III4 III4 11>4 III4
Do
pref
14I4
14=8
"13
13=8
14
14
14
13%
Missouri Kansas & Texas
78 'a
77% 77% 77=8 78 14 78% 79% 78
Missouri Pacitio
•9
*8i3 10
•9
10
10
-s% 10
Mobile & Ohio
80
80% 80% 80% 8II4' 8II4 8II4
Na8hv.Chattanooga& St. Louis •79
10678*106%
106%
107
106=8
106%
100%
106%
Kew York Central & Hudson
15% 15% 15% •15=8 16
15% 15% 15
New York Chic. & St. Louis.
68 69
70
68% 68% 6978 69^8' •69
Do
1st pref
32 14 3214
3373 34
34
33
34
Do
2d pref. 32
2678'
27%'
26=8
26=8
26%
27
27%
26%
Hew York Lake Erie & Wesfn
62
62
60% 61%' 617e 62
Do
pref.
4414'
42
43
44%
43%
43
43%
Kew York & New Enelaml
'8 43%
15% 15% 15=8 15=8' 15% 16% 15=8 16%
New Y^ork Ontario & West
914
"914
9
9% 9%
New York Susq. & Western. .
9
9% -'9%
31 31% 31% 317e 31=8
31'8
31% 3178
Do
pref
•17% 18% 18% 19
18^8 IS^sl IS's 19
Norfolk & Western
& Om
.
.
37% 37%'
pref.
I)o
'
i
Do
50
pref
Northern Paciflo
2578
Do
prof
Ohio & Mississippi
Oregon &, Trans-Continental..
Peoria Decatur & Kvausville.
Philadelphia & Reading
50%
26I4
56% 56%
25=8
25%
I
50 14 50%
50
50%;
50
26% 26%
56% 57%
26%
2714
2614
2078
25% 26%
2II4 21%
21
21
ei's 62
25
25%
61=8
57%'
2II4 22%'
56%
26% 26%
25%
21%
63%
57
21
22
22
62=8 63%'
25=8 26
73% 74%'
92 95
31
32
68% 69%'
63
26
25%
Do
73=8 74%
pref.
71% 74
Bome Watertown&Ogdcnsb'g 92
93% 93% 93%
3OI4 30%
Bt. Louis i& San Francisco
30
30
68I4
Do
68
pref.
68
68%
Do
1st pref. 116 117
H214II5 112%
Bt.Paul& Duluth
•53
53 58
57
Do
'98
pref
100
99% 99%! 99%
BtPaulMinneap. &Manitoba. 100% 106 'a 106% 107%! 107%
Texas APaciflc
2314 23%[ 23% 23%| 23%
Texas & Pacilic Laud Trust.. •22
23
22% 2278' 23%
Blchmondife WestP'tTerinlnal
I
Union
Paoltlc
56=8
13
Wabash St.L.&Paolllo
_^ Do
pref
& Lake Eric, pref.
niacedaueoiis Stocks.
Colorado Coal & Iron
Wheeling
Consolidated Gas Co
Delaware & Hudson Canal
Oregon ImprovementCo..
^o
Oregon Railway
&
Pacilic Mail
Pliila<lelpUia Co.,
5678
•34% 36
74%l
65% 65%
pref. '100
94%
35%
Nav. Co
84
NatGas
57%l
2473
25
55
557e
13% 12%
24% 24%
53% 55%
•74
56=8
104
I
66
104
95
9473
35=8'
35% 35%
'65
*100
32
69%
23I4
'13
57=8
24%
23%
58%
13% 13%
24% 25
55% 5714
I
72%
93%
57%
13%
2473
57
35% 36% 36I4 30%
74% 75
76%
113% 114=8 114% 115
65
100
2478
99
100
107%' 10578
36
•85
67
101
90
& Santa Fe.
^esapeake & O.,
^cago&Alton.!
Chicago
Do
.
July 27.
Shares.
914
•878
58I4
9%
5778
52
52
5778
52=8
•84
I
"'^
_
Houston &
J07''8
•50
24 14
2,985!
107% 107%
108
51
51
3%
24%
920 100
51
24I4
JiinelS 310%
Apr.
53%
2]
10
3
Jan.
May
21
27
27
24
27
27
1
27
10
6
30
1
Feb. 16
17
'
36%
35% 36
36%
89
I'
93
35=8
85%
162=8
79
*145
92% 92%
36
36%
89% 89%
162% 16278 163%
79% 79
79%
93
36
8i%l
150
*108%110
'76
77
145
150
108% 110
•76
137% 137% ISa
78
142
.
2,050 30=8 Apr. 2 3373 Feb. 17
3.829 08%Mar. 29J 78 Jan. 18
7,973 103 Jan. 3 115i4July25
8 70 45 Mar. 29 67 JiUy 18
22 101i4July 2 103 Jidy 26
1,710 84 14 Apr. 2 97 May 2
4,290 28% Apr. 2 38% May 1
130 75 July. 9 106% Feb. 15
3,897 135 14 Apr. 3 163% July 27
34,799, 70% Apr. 2i 79% July 24
!
60 137
109 106%
588 67
145 128
Apr. 12!l47% July 24
Mar. 22;ilOi4 Apr. 26
Jau. 4! 76% July 25
Jan. 19 143 June 23
70 Jan. 12 79 July 18
110 79=8 June 14 99% Feb. 20
4351
440! 11
125 135
40
2,943!
10
89%
2
July 17 12%.)uly24
Jan. 9 140% Feb. 10
Mar. 19 43% Jan. 30
Mar. 2\ 94% Jan. 28
4%.Tan. 9
June 5
4i4June 5! 6% Feb. 24
12 May 10 23 Feb. 6
40) 83% Jan. 4 93i4Julyl9
400 133 Jan. 3 144 Juue 25
232 215 Jan. 4 226 July 26
10 Mar. 22 13 Apr. 20
13% Mar. 26 30 July 24
9 Mar. 19 13% Jan. 12
41 July 17
33 Mar. 3
35 Mar. 27 45 July 27
1679 Jan. 16
July
10%
7% Apr. 26 9% Jan. 27
July 24
27
4
19 June
17 Mar. 22 30 Jan. 9
July 24
32
11
27 Jau.
6,460| 24% Apr. 2 32=8 Jan. 30
100
100'
Sis-'.^s'^e^r-^^"-!'™'Oregon Short Line!;!'.
Qoioksilver Mining Co
Do.
pret.
Bt Louis Alt & Terre
Bt I>ouls Ark. & TexasHaute
Bouth Carolina
Bouthcrn Pacinc Co' .;;'"
Cpluiubus & Hocking Coal
OntaHo silver Mining
Tennessee Coal & Iron
*«• <Onl
prices
56%
1
Texas Central
TheM are the
.Ian.
62i4Jan.
«"
nmf
i
10%
Apr. 2
Apr. 2
Mar. 26
4
pref
'*"'.•"'"'
42%
1,400
1,197
124,360
& Baltimore
ripe Line CortlHcates
1888.
847^ May
37 July
2,745 I0!ii4 June 12130% Jan.
142,036
7314
7214
61
Juue
12
78
Feb.
71^4 72%
109 109=8 109=811014' 5,175 98% Junel2ill7 Apr.
112 112% 27,400 102=8 Apr. 2 112% JiUy
1'0% 112
515 138 Apr. 3,145% Feb.
142 143%
5,363 100% July 5 114% Jan.
106=8 107''e 107% 108 14
•1214 13
1,200 11% July 23 14% Jan.
*12% 13
500 29%Jlar. 31 38% Jan.
33
33
33
33
3,840' 32% Apr.
3879 39
3878
38
2\ 42
Apr.
5,500
reorg. cert
ImHr?! on Trust
^"O'lCotUin
45%
73%
20%
1,
Highest
Lowest.
300
7% Apr. 3
400 55% June 11
83% 83%
36% 37
15%116
1888.
Range Smce Jan.
13,6o0;
& East. Illinois.. .1"!
Olnclnuati Wash.
1,
I
Polimau Palace Cur Co
102
161% 162% 162 102% 162% 162%
Western Union TelcgraiJli""
7914 7914
79% 79%' 7a% 79%; 79
79%
Expreas Stocks.
Adams
147%147%*143
150
American
108% 109% 109 110
United States....
76
76% 76% 76%
WeUs, Fargo & Co...".
•140 150
luactive Stocks.
American Tel. & Calile Co,
Atchison Top.
Week,
JAN.
Mar. 2l| 2579 Jan. 9
134% 135 14 I3414 135%
123% Apr. 3 136 July 25
•18
•18% 20
262 15 Jiily 2 23 Jan. 6
20
•48
•48%
131 44 Mar. 24 55 Jan. 28
50
10% 10% 10% 10% 4,278 8% Mar. 22 11 July 23
69
69
68% 69% 2,5iO 55 Mar. 22 71% July 24
25 14 26
26 14
5,524 17J4 Apr. 2 20% July 24
26
•85
'85
86
86
100! 81
Mar. 22 88% Jan. 10
1,4751 21% July 24 46% Jan.
26%
26%
26% 27
3
11% 1178 11% 117e 3,145; 7% Mar. 20 12 July 25
12014120%' 1,905 114 Mar. 5 123 May 1
120 120
14
600,
13% 13% 13
9% Mar. 28! 14 Jan. 20
1"C! 277eJan. 16! 37% May 1
33% 33% •3314 33%
68O: 12% Mar. 22! 16
15% 15% 15=8 15=8
Jan. 30
5,440! 40i4Apr. 21 47=8 July 25
46% 47
46=8 47
92% 93=8 93% 93=8 20,450; 85i4Apr. 2 95% Jan. 9
93% 95 •93% 95
87% Apr. 2 95 June 25
60% 60% 6II4 35,785 50=8 Apr. 2 64 14 Jan. 9
59
40% 39
1,700, 30
39
42
Apr. 1- 4 1 July 25
89
88
88% 88% 3,165; 77% June 12 98 Apr. 27
83 14 83% 83% 83%
6,935 72 Apr. 2' 87% Jan.
56 60
200! 48% June 181 80 Jan. 10
56
56
88 92 88 92
172 83 Mar. 27,104% Jan. 5
478
478
1,000
973 Apr. 30
379 Mar. 28
47e
"" Apr. 30
10 12%
650
11% 12
1814
9%Julv
14 14 1479
14% 15% 14,219 10 June 111 18% Jan. 5
77% 78% 78 14 7878 10,634 67%Junel2i 89% Jan. 3
10
10
160
10
10
6% Mar. 29 13% Jan. 27
82
82
80% 83% 2,995! 71 Apr. 2; 83%Jiay 27
106 106 14 106% 106%! 2,299 102% Apr. 2,108% Apr. 30
232 1'% Mar. 31' 17% Jan. 27
15% 15% 15=8 1578
69 70
'69
140 61%Julv 6| 73 Jan. 27
33 34
'33
1,100; 28
34
Mar. 31 37 Jan. 30
26% 27% 27% 27% 35,090] 22% Mar. 9 29% Jan. 9
6II4 02
6214 62 14'
1,020 52% June 13 65% Jan. 10
43% 43
43% 4373' 55,195 29% Mar. 22 46 Apr. 30
15% 16 14 I6I4 I6I4 l,71vt 14 June 13 18% Jan. 9
9I4
914
9
1,320
9
7% Mar. 28 9=8 Apr. 26
31% 317e 31=9 31=8 4,324 26 Apr. 2 33% Jan. 30
18% 19
18% 18% 2,03 J 15% Mar. 24 19% Apr. 30
5ii% 50=8
8,727 41% Mar. 31 51 July 25
51
50% 51
2678
26% 26%! 26% 26% 7,697 1973 Apr. 3 27 14 July 24
57 14 56% 5714! 56% 5714 26,678 42% Mar. 31 57%JiUy 24
22=8
21% -2%, 22% 22% 4,000! 17% Mar. 27 25 Jan. 31
26 >4 25% 237e! 25% 25% 11,023! 17 14 Apr. 2 26% May 7
22% 21% 2178 21% 2179 2,345 15% Apr. 2' 23 Jan. 11
63 >4 64% 6414 64=8 293,246 51=8 Apr. 2| 67% Feb. 18
64
26
23% 25=8 25
25% 54,9 .o; 19 Apr. 2; 26=8 May 3
74
71% 73=8 72 14 73 14' 10,t>ln| 55 Jan. 6i 74% July 23
92
'93
95
217 82% Feb. 13 94% July 25
95
94%
3373 34%!
3-% 32% 34
6,130, 24
Mar. 27; 36% Jan. 5
70%' 70% 71% 71% 72731 8,393 63 Apr. 2 73% Jan. 30
113%*112%113% 113 113
100 105% Apr. 3 II679 July 19
Mar. 29! 62% Jan. 3
57% 57% 57% '50% 58%
200; 43
101
100 100
101 101
601 89 Mar. 29 105 Jan. 28
105% 105% 105% 103%! 2,495 94 Apr. 2] 114% Jan. 23
107
24% 23% 24
15,155 187a June 6 24% July 24
23% 24
'"" July
~"
•23
'
23 14 23%'
27
24
820, 22
24
July 7 23%
58=8' 75,115 48
58% 57% 5814 58
Apr. 2! 58% July 24
430 12 Mar. 27 16 Jan. 3
13% 13=8 13% 13% 13%!
25I4 25%!
25 14
25
25
Mar. 24! 30 May 1
3,150| 21
57
57% 56
58
57% 14,034! 44% Jan. 3 58 JiUy 25
91% 94%: 92% 93
35% 36
35% 36%
88
162
Friday,
76I4I
76
76% 76
76
76
114=811514' 114%11478' 114%114%
63 14 63=8 64
65
63
64
103 103
100 104
100 104
7414
94'8
22=8
113%' 112
57=8
13%
*8%
58I4
5114
AND SINCE
27,
Sales
of the
83
83%| 83ifl 83%
35
35 %l 35 >4 30 14
11514115%
115
Ho, 115
^i?,* ^iS^*
83 '8
35 14
70^8'
70% T2-^
iSsI 167%10S4 108? 109^
109^8 110
& Nortli western
83
35
83
*33J9
114%
6?% 70^' 69%
108
9
9>4
JULY
[
57
57
•571a 58
50 14 51% 50'e 51>4
XLVU.
[Vol.
Wednesday,! Thursday,
July 26.
July 25.
Tuesday.
July 24.
Monday,
Baturday,
July 21.
Atlantic
OhlcaRO
1
1
tsted.)
3714
38
83% 84%
bW and asked;
do
3779
8278
sale
39 %l
83
25
Mar. 21
71% June
I
was made at the Board.
:
Prices from both Exchanges.
-'7
!
40
100
July 24
Mar. 6
.
July
THK CHKOVKM.K
88, \tSi.\
103
-r-
BONDS-LATEST PRICES OF ACTIVE BONUS
ltanii*Hne§ Jan.
Ototing.
SaUroad Bond*.
July 27 July 20
* Pao.— W. D. Inc.. 6a, 1910
Ga»r., 411, 1937
VAVu
Can. Hoiith.— l»t tear., 6b, 1908
Atl.
i—
5M.AI1, 1913
•Central of N. J.— l»t, 7b,
Oonnol. 7», 1S99
Convert. 7». 1902
Convert, (li'b. 6«. 1908
•
1890
am
Apr.
Jan.
Keb.
Jan.
b,
lOV'sa. 'OlHi Jan.
Am. IXK'k A iMiji., 6b, 1921.
Oeiilral Pacitli^Ko'd Gs. 1898.. 114>4l>. I14iab. 1131a Jan.
llS^h.
115 b 113i« Apr.
Ban J.iBi|Utn Br. 68.1900
102'€b. 102 b. lUO
Apr.
Land ttniiit (iB. 1890
101\b. 102
27i« Jan.
om
IOHi<
Jau.
120
June
12.) In
Apr.
June
1('6'*H June
114\ Feb.
109 Juno
]|>rii«
llOl^.IUIKl
116>4 July
103% Jan.
Mar.
108
II414 Feb.
Ches. A <).— Pur. m. fund 6b, '98
62i4Miir.
70»s Fi'b.
68. Kolil, Bt>r. B,1908, ooui). ofl
62 Apr.
Kxun. wmj)., 4h, 1986
701s Fib.
22a8b 20<>Bb. 16«8 Apr.
28 Fi'l).
6«, iMirreuoy 1918
107 b, 106'8
OOisJan. lOG^s July
Mort. 6f. 1911
CheB. O. *»(>. W.— 5-68, 1911 ... 110 b. 108 Jsb. 103 >t Mar. llOHiJuly
98 Apr. 103 Jaii.
Chlc.Bur. A Nor.— l8t,.'iB, 1926.
June
Ohio. Burl. A IJ.— Con. 78, 1903. ISOisb. 130>ab. 129 >s Jan. 134
1(10 b 106 b. 104
May 1071s Feb.
Debi>nlurn.%8, 1913
93 b 92 b. 91 Mar. 95 ,lan.
Denver UlvlB., 48, 1922
116 b. 113 Jan. 1171s July
Chlo. A i:«Ht. Ill-Con. 6«, 1934i 117
96 Apr. lOOisMity
CMC. & Ind. Coal R., Ist, 5e, '36 99 b. 98
Apr.
CI1.MI1.A 8t.P— iBt, I.& M.78,'97 114 b. lUigb. 114i<Jan. 119
124 b. 125 b. 1 23 Is .Ian. 128 Muy
OoDBOl. 7b. 190.5
109 Jul} 114 Feb.
l(t,Bo.Mln. Ul v.— 68,1910.... 1U>3
101 Is Jan. 106 July
iBt, Chi. A Pac.W.Ulv— 58, '21 105>sb. 105%
UiO b. 100 Jan. 104 May
Wis. A Mln. DIv.— 58, 1921....
102 •« 101 b. 100 Jau.
03 Juno
Tennlnal ."SB, 1914
143>9 1391a Jan. 144 July
Ohio. A N. >V.—CouBol. 7a, 1915 144
131 b. 131>s
I'JG
June 13213 May
Gold, 78, 1902
120 b. 118 b. USM Apr. 121 Feb.
81nklnK^inil68, 1929
108 ^b. 108 >8a. 106 Apr. Ill Feb.
BlnkluK fuii.l 58, 1929
107 Way. HI Apr.
Sinking fund debent. .58, 1933 limb,
too b. 106Va. 104 May. lOOis Apr.
Z5-yeurdebt<nt. 58, 1909
97%a. 97 >«
91 Is Mar.
9758 July
£xt<'U8i(>u 4h, 1926
July 134 June
Chi. R. I. A Pac—68, coup. 1917. 130'sb. 130>sb. 130
105 ig
105 "a
104 Mur. 108 May
Exten. A col. 58, 1934
11913 Jail 1231s May
Oh.8t.P.,M.A O.—Cousol. 68. '30 IZlitb. 122
97% a. 97 May lOOisJuu.
Oh.St.L.A Pitts.— Ist.con. 58,'32
132123- 123
Jan. 131 July
O. C. A Ind.— Consol. 73, 1914
107 19 Jan. 113 May
Gen. 68, 1934
lOS'a 100 Jan. 106 Mny
Col. Coal A Iron— Ist, 68, 1900.. lOS's
78
Col. H. Val. A Tol.—Con. 58, '31 79
63 Mar. 7913 July
77
76iab. 63
Gen. gold, 68, 1904
Mar.
77 JiUy
120 b. 11813 May 12114 Mur.
Denver A RioOr.— l8l,78, 1900 121
79I3 Jan.
75
75'«b. 75
latoon.48, 1936
Mar,
Den. A R.Gr. W.-l8t,68, 1911.
71 Jan.
75 July
72
71
Assented
60 M«r. 72 July
Den. Ho. Pk. A Pac— 1st, 78, '05 70 b. 73isa. 75 June 81 Apr.
Del.Mac.AM.— Ld.gr.3><8,1911 30 b. 35 b. 34 May 43 Jan.
E.Ten.V. A G. Ry.— Cou..5s, '56 Ui'2^b. 102%b. 95% Jan. 103 14 July
Ellz. Lex. A B. Saudy— 6s, 1902. 99 b. 9a b. 96
Mnr. 104 Jan.
Erie- iBt. consol. gold, 78, 1920 I'od a. 135Sib.'l32isMar. I37I3 Feb.
112 b. 112 b.lll Jan. 115 Apr.
Long Dock, 78, 1893
117>ab. Il7isb.ll5
Con. 6s, 1935
Apr. 118i3July
N.Y.L.K.AW— 2dcon.6s, 1969 98 b. 9713
92'8Juue 99''8 Jan.
Ft. W. AUonv.C.-lst,6«, 1921 87^
au^ May
851a
77%Ai.r.
Gal.Har.A8an.Aut.— let, 68,'10 loeiab.
10113 Feb. 1061a May
il02 b. 102 b.! 98
2dM.,7s, 1905
Apr. 106 July
West. Uivlslon— l8t,58, 1931.
90 Mar. 92I9 Jan.
Gr'nB.W.ASt.P.- 2dinc.88,191ll 42
38
25 Aiir.
42% July
Golf Col. A San.Fe— lst,78, 1909 llSkb.
118 July I2214 May.
UUisb. 96
Gold, 68. 1923.
94 July 9778 Feb.
Henderson Br.Co.- Ist. 6a, 1931 110 b. 111 a.'107ie Mar. llOia June
123i«b. 121 b.'lH
H. A Tex.
Ist M. L. 78
Mar. 1221s Jnlv122 Hi b. 121 b. 112 Feb. 12212 July
lat. West. D., 78, 1891
lBt,WacoAN.78,1903
105 b. 105 b.l05 June 114 Feb.
2d, oonsoi. M. L. 88, 1912
102 Feb. 1081s Jan.
G«n. mort. 6s, 1921, tr. reo... 65 b. GS b. 65 Jau.
69 Feb.
Ind.Bl. AW.— l8t,pref., 78,1900 112 b. 114i2l>. 110
May 1121s Jan.
let, 5-68, 1909, tr. rec
85
84 b. 80 May
891s Jan.
2d, 5-68, 1909, tr. reo
65 b. 60 b. 65 Feb.
711s Jau.
82isb. 81 lab. 80
East. Dlv.— 6». 1921 tr. reo.
May 88 Feb.
Income, 68, 1921, tr. reo
20130. 18 b. 15
Mar.
21 May.
Int. A Gt.Nor.— let, 6s,gold,'19 107 b. 105
9313 May. nils Jan.
Coupon, 68, 1909
6713
61 Apr.
77 Jan.
Kent. Centr.—Gold 48, 1987.... 70%b. TO b. 69 Jan.
75 Jan.
Knoxv. AO.— Ist, 68, gold, 1925
9513a. 89 la Jan. 100
June
L. Jirle A W.— let g., 58, 1937 .. 106 a. 105 lib. IOII2 J»n. 110
May.
I«ke8h.—Con.coup.,l6t,7s,1900 125 b. 12513b. 125 Feb. I2«i3 June
Con. coup., 2d, 7s, 1903
IZ4 b. 12413 |122iaJan. 126I4 Mav.
Long Island- let, 78, 1898
121 b. 11913 .May. 122i3Juno
l8t, cousol. 5e, 1931
114 b.lll Jau. 115 Jime
Loa. A Nash.— Consol., 78, 1898 121 b. lig^b. lie's Apr. 123
Feb.
S. O. A Mobile— let, 68, 1930. 11214b. lll'^sb.: 10818 Jan. 115 June
2d, 68, 1930
9913 b. ii7isb. 9612 Jan. 100 May
E. H. A N.— Ist, 6s, 1919
114ii.b. 115
Feb. 116k Jiiiy
|114
General, 6b, 1930
114
109%Jau. ll.i May
Trust Bonds, 68, 1922
110% 1 9 b. 106% Mar. 110% May
10-40,68, 1924
101 b. 101 b. 101
June 104 Fe:i.
50-year 58, 1937
99 %b. 101 a. 99 13 Mar. 1023e Apr.
Lon. N. A. A CU.— l8t, 6e, 1910. 114 b. 113
107 H Apr. 115 June
Cousol.....
gold, (is, 1916
95 a. 9313
87% Apr. 96 July
Mem. A CIi'Ibmiu—68,gold, 1924 104 b. 103 b. 100 Jan. 10.513 June
Metro. Klevaied, -let, 68, 1908. 114 14b. 114%
10818 Mar. 117
May
2d, 68, 1899
U8 b.
103 Jan. 108 July
Mich. Central— 1st, con., 78, '02 130 Sb. 129 b. 126 May. 131 July
CouBiil. 08, 1902
110 b. 10713 May. llOis Jan.
MlsB'riPac- iBt, cons., 6s,1920 Ill b. llOisb. 107 Mar. 11313 Jan.
8d,7e, 1906
!17
115 Jan. 118 Feb.
Pao. of Mo.— 1st, 68, 1888
103
I02''8b. lOOia Feb. 10313 Jan.
2d mort., 78, 1891
104 Jan 108 May
NOTB— The letter " b" Indloatea prloe bid, and " a" prioe ailced all other
I!>;i0
OlMtng.
1.
SI May
Mar. 10S\ June
Mar.
Jan.
.. 10<!>iib.
(!«,
ANU KANUE SINCE
JAN.
1,
1888
Bono* tme* Jan.
July 27 July 20
BiglutL
123
115 Jan.
10S>ab. 105 >«b. 102
Ffb.
lOS
I OS's
98 Jan.
General ninrt.. So, 1H87.. ...
Leu. A \V.B..cou.7b. l>J09,a»'nt IMTib. I14\b 112>sApr.
M(irt.
SfOCft EXUIlANUK.
I.
BttUroad Bondt.
LowtiL
21^8
19
81 b. 80
10738
105
9414
89 >4
107 i«b 107 >«b. 1<'4»8
U7Mb. Ill'*
li'i
Al' N. I.
b. lOlifl A|)r.
b, 105 14 Feb.
I(l4<>g
,
HIM
&
1
1
I
C—
,
,
,
;
Lk.SU. A W.-lat, aa, 1921 U8%
ABhland Ulv.— 181,68,1925.
Mllw. A Nor.-M. L., 68. 1910.. 108 i.b.
107
Extension, let. 6h, 1913
9213b.
Minn. A 8t. L.— Ist, 7b, 1927...
63 b.
Imp. A Equip. -6s, 1922
68
Mo. K.ATex.—Con., 6b, 1920..
0214
Consul., 58, 1920
97 '4
Consol., 7s, 1904-5-6
112 13b.
Mobile A Ohio— New, 8a, 1927
iBt, KxteUNiou, 6s, 1927
Mil.
b.
114
b.
b.
1131a Mar
10513 Jan.
104% Jan.
><2>ab.
01
June
81
5(f''8
May
b.
66%
5713 June
.50 13 Mar.
60
96isb. 90
Mar.
112>ta. 108 13 Jan.
10413 JiilV
.
50 b
iBtpref. doli('ntures.78
June 121% Apr.
119
108
lOe
.
45
b.
97 b. 9714
f., 68, 1911
Nash. Ch. A Ht. L.— 1st, 78, 1913 12913b. 128iab.
105 8g|,.
N.Y. Central— Kxtend., 5s, 1893
N.Y.C. AH.-lst, op., 7s, 1903 iii'h. 134 b.
112
112 a.
Debenture, 6s, 1904
131 b. 131 b.
N.Y.A Har.— 1st, 7e, 1900
9288
N.Y.Chlo.A8t.L.— lst.4B, 1937.. 9'^%
114 b.
N.Y. Klevated— let. 7a, 1906.... 115
131 b.
N. Y. I,ack. A W.— 1st, 68, 1921.
111
Ill b
Oonstriietlon, 5e, 1923
N. Y. A Nor. -Ist, 58, 1927....
10813b.
12itb. 113%b
N. Y. Ont. A W.— l8t. 68. 1914.
Mutual Un. Tele.— 8.
HighML
Lowat.
43
Mar.
84I3 Jan.
IT'S Jon.
111 Mar.
108 « Feb.
110 Jan.
69 Feb.
7314 Jan.
63 14 Jan.
IU6I3 Jon.
116 Jan.
105 >• Jan.
51
Feb.
1
99
July
128% Jan. 132
Juna
103
May. 10614 Mar.
132% Jan.
136% Juna
10113 Apr.
12713 Mav
8614 Jan.
112
133
93
July
Jan.
Julr
Mar. ll8>3Jnna
Jan. 133 Juna
107''9 Jan. 112
Julr
1023gJan. 108 May
109 Jan. 115 Joly
90 Mar. 9413 Jnoa
N.Y.SUB.AW.- let ref., Ss, 1937 9313b. 91
Midland of N. J.— Ist, 6s. 1910 11313b. 11314b. 109 Apr. lt4<^Jnly
N. O. Paollio— let, 68, 1920
75 Mar. 83% Apr.
Norfolk A Weat. - Gen., 6a. 1931 lOkb. 119is'> 112i3Jan. 120 Joly
117 a. 11513 Jan. 11913 June
North. Pacltlc—l8t,ooup., 68, '21
109 b. no's
Gen'l, 2d, coup.. 1933
102 Jan. 110% July
94 b 95
Geu'l 3(1, coup. 6g, 1937
89 June 96 July
N. Pac.Ter.Co.— lat, 6s, 1933... 10113b. 101 b. 99% Jau. 10513 Juna
Ohio A Miaa.— Conaol., 7e, 1898. 11514 b. 115 b. 1141s Jan. 119 Juna
2d,oon80l.,78, 1911
116 Apr. 1 9 July
Ohlo8outhern— l8t,6s, 1921. .. 105 a. 10313b. 9913 Jan. 106I3 May
37 b. 3513b. 29 Mar. 40 Apr.
2d,lne.,68, 1921
Omaha A St. L.-lat, 48, 1937.. 72*jb, 73 b. 70 Mar. 76 Jan.
Oregon Iiupr. Co.— let, 68, 1910 103% 1037g
9414 Jan. 105 May
Ore. R.ANav.Co.— let, 68, 1 909 '109 's'l. 110 b, 108% Frb
113 May
'""'
102 '"8b.
9t>i4 Jan.
Consol., 5h, 1925
104
May
9Jl2
Oregon A Transcon.— 69, 1922.
99% Apr.
99%
93 Jan.
Peo. Deo. A Evans.- Ist, 68, '20. 105isb.
106 Jan. 112 Jima
103i8b. 102
Evanev. Dl v let, 68, 1920
Mar. 107 May
2d mort., 58, 1927
71isb. 69
May 75% Apr.
Rich A AH.— lat, 78, 1920, tr. rec 67ieb, 57
51 Apr.
.59% Juna
Rlchm. A Dan.—Cons., 68, 1915 113%b. 113%b. 109 Jau. 116 June
Roch. & PItte.— let, 68, 1921... 118 b 118 b. 116 Mar. 118 Feb.
115 b. 115 b. 13 Jan. 117i4May
Consol., 6s, 1922
RomeW. A Ogd.— l8t,78, 1891. 10^ b.
107 Jan. llu% May
103 a. 108
Conaol., extend., 58, 1922
loo's Apr. 10814 June
Jau. 104 July
8t Jo. AGd.Ial.— let, 68, 1925 10313b. 104 b. 98
43 b. 40 b. JO May
43 July
2d,iuconie, 58, 1925
St.L. Alt.AT.H.— let, 78, 1894.
112 July 114% May
I08i3h. 108
2d, M., pref.,78, 1894
Fob. 110i4Jan.
103
2d., M.,ino., 78, 1894
10314b. 103
Jan. 105
Apr.
35
Dividend biis, 68, 1894
35 Apr. 40% Juna
St. L. Ark. A Tex.- 1st, 6s, 1936
ai^'e" 98
Jan. 10414 Feb.
2d, 6s, 1936
37
36% June 48 13 Jan,
St. L. A Jr. Mt.— let, 78, 1892... 107 b. Ul b. lOUia Mar. lUiaJan.
109 b. 108 13b. 105 June 112 Jan.
2d mort., 7a, 1897
Cairo & Fulton-let, 78, 1891 101 b. 105
102% July 10513 Jan.
Gen. Ry. A laud gr., 5s, 1931. 86I4
80 Apr. 921a Jan.
861a
St. L. A San Fr.- 68., CI. A,1906 118 b.
II314 Jan. 119
July
118 b. 118
11538 Jan. II913 Juno
68, Class B, 1908
118 b. 118
6e, ClaesC. 1906
114 Jan. 119% July
Gen'l mort., 68, 1931
1151a :11513b. 1121b Jan. 118 June
102i8b. IO2I3
Geu'l luort., 5s, 1931
10038 Jiin. 10518 Juna
80. Pac, Mo.— let, 6e, 1888...
100 Jan. li>2%Juna
114 b. 112 Jau. 117 June
St. Paul M. A M.— l8t, 78, 1900
121 b. 120i8b. 116 Apr. 120i4July
2d, 6e, 1909
114 M*r. 120 June
let cons., 68, 1933
1171s a.
96 14 Apr.
Do
reduced to 413S.. 9.il8b. 96%
981a June
87I3
Montana Ext. let, 4s, 1937...
80 Mar. 87 13 July
Shenandoah Val.— let. 78, 1909. 95 a. 85 b. 90 Jan. 95 Apr.
36I4 Jan.
Gen'l mort., 68, 1921
33
32
29 Apr.
80. Carolina— 1st, 6e, 1620
104 b. 103 %b. 97 Jau. 104% JiUy
2d,6e, 1931
82 a.
69 Jan.
87 May
Inc., 6s. 1931
15
1414b. 13
18% Jan.
Apr.
So. PacJ, Cal.— 1st, 6s, 1905-12.. II.514
115 b. LIII4 Apr. 116 Mar.
So. Pac, N. M.— lat, 69, 1911. .. 106 b. 105 b. 105 V1 Jan. 1081s Mar.
5113 Jan.
Tex. A Pac— Inc. A Id gr, 78, '15
41 Apr.
New let, gold, 58, 20u0
95
92 May
95% July
95
New 2d, gold, inc.. 5a, 2000.. 4414 43 13
3814 June 4413 July
ToL A.A. A N. M.— let, 68, 1924. lOO'ea. 101^8
85 Jan. 104 May
Tol.A.A. A (ir.Tr.— let, 68. 1921
101 b. 101 Jan. I0713 May
99'
Tol. A Ohio Cent.— Ist, 5s, 1935
93 Jan. 101 June
"b. 99
Tol.St.UA Kan.
l8t,6s, 1916
91 June 94 Feb.
94
Union Pacillc-lst, 68, 1899
115 b.
114 Jan. 11713 June
Land grant, 7s, 1897-9
102 isb. 102 lab. IOOI3 Apr. 104 ig Mar.
Sinking fund, 8b. 1893
121
120 b. II3I3 Apr. 12 1 13 May
Paciltc—
Kan.
l8t,68, 1895
lliisb. 112 b.!lo9isFeo. 112i3Jan.
1st, 6e, 1896
UCsb. 110 b.il09% Feb. 112 May
Denver Div.— 68, 1899
114 b. 114 b.jll2%May 116 Apr.
109i8b. 109
Ist conaol, 6s, 1919
101% Jan. 110i4May
Oregon Sh. Line -Ist, 68, '22.. 109 igb. 109 "4 100 Feb. 10913 Juiy
Virginia .Mid.— Gen. m.,5s, 1936 82 b. 8214b. 78
Jan.
83% July
Wab. St.L. A Pac. - Gen., 68, '20
40 a. 37 Apr. 4/ Jan.
Chicago Divison— 5b, 1910
93 Jan.
98% Feb.
Wabash— Mortgage, 78, 1909..
90 Jan.
84 Feb.
Tol. A Wab.— lat, ext., 7e, 'SO llO^b. 11013b. 107
Apr. IIOI3 Juna
Ist, 8t. L. Div., 7s, 1889
li9isb. 09 '4b. 107H Apr. 111
July
2d, extended, 7e, 1893
85 Apr.
91 Feb.
87 b. 88
88 13 Feb.
Con.,conv., 7e, 1907
83 Jan.
Great West.— 1st, 78, 1888
May
10513 Apr. 11 1
110 b
2d, 78, 1893
82 Apr.
90 Jan.
84
West Shore—Guar., 4s
99^8 Jan. lu49g June
102%
1021a
Wheel. A Lake E.— 1st, 58, 1926 99%
99 b. Jan. 941a loo's May
114
127
1
'^
—
.
C—
1
prices
and tue range are from actual
STATE BONDS.
SECURITIES.
I
Bid.
Ask.
SECURITIES.
Bid.
Ask.
SECURITIES.
Bid.
I
Alabama Class A 3
IO3I3 lOlis Missouri- 6s
due 1889 or 1890
112
Class B, 6b
1U7
Asylum or University, due 1892
Class C, 48
Funding
1894-1895
100 Is 102>s
6s, 10-20
IO2I2
New York—68, loan
1892
Arkannaa— 6a. funded. .1899-19(X)
11
7
6e, loan
1893
78, Little Roik A Fort Smith, les.
North Carolina—6b, old
8
JAj]
78, Memiihla A Little Rock, las..
Funding act
8
;.1900
78, Arkaneae Cential RR
12
5
New bonds, J. A J. ...1892-1898
Seorgia— 7a, gold
1890 103 107
Chatham RR
Louisiana- 78, oona
1914 106
Siiecial tax. Class 1
Siauiiied, 4s
88
Conaolldated 4e
881s
1910
Michigan-78
1890 105
68
1919
to 5
1906
1906
1906
1900
Rhode Island— 6a, oou.. 1893-1894 108
102
104
107
108
109
35
10
20
8
9^13!
10
94
12213:125
3I3
South Carolina— 6a, non-fund. 1888
Brown con.soUdated 68
1893 104
1892-1898
62
Tennessee—68, old
7lia
1912
Compromlae, 3-4-.5-68
New settlement—68
1913 1021s
1913 96
OS
1913 70
38
48
Virginia—68, old
70
6s, cOQi-olidated bonds
50
6s, cousolldated, 2d series
68. deferred, truat
r****-
...
»«
4>«
107
64
74
106
98>a
70>«
...>••
•->*
8l3 .•••••
—
M
1
THE CHRONICLE.
104
1
[Vol. XLVTI.
BONDS—STOCK EXCHANGE QDOTATIONS ON rBIOAY OP INACTIFE BAILKOiU BOXBS.
BECURITIES.
Bid.
Railroad Bonds.
SECUKITIES.
Ask.
Bid.
Ask
SECURITIES.
Pacifle
Erie— (Continued)4th, extended. 58
lOlJ^
5th, extended, 48
108
1st. cons., fd. coup., 78
Ask.
Bid.
RR».— Central Pacltlc—
Gold bonds, 6s
1895 *11458 115
1181s
1920]
IOII4
Gold bonds, 6s
1896 1141a
1928
99
1920 131 134
Gold bonds, 68
1897 II413
1911 206i>e
1908
CaL A Oregon— Ser. B., 6 1892, 102
1937 96% 97I2
Reorg., 1st lien, 68
115i»
1916 135
West. Pacific— Bonds. 63. ...18991 112
B. N. Y. A E.-lst, 7s
Cliie. S. Fe&Cal.-lft (f., 58.1937 10138lOi3e
No. Railway (Cal.)— 1st, 68.1907, 111
1936 84 Hi 8o>s
N. Y. L. E. A W.—Col. tr., 681922
B«on Creek-lst goXA, 4b
1969
891s
South.Pac.,Ariz.—lst 68,1909-10 106
Funded coup., 5s
Bilt <b Oolo— leteg, ParkB ..1919 122 123
87
Union Pac— 1st, 68
1896 113% 1141*
1925 109
Buff. A 8. W.—Mortg. 6s.... 1908
ftB.KOld
Ist, 68
1897 114
1988
Evan. A T. H.-lst, cons., 6s. 1921 118
Oon.f. nioTt..gnM,58
lUBj iiiv
1923
1st,
100
68
68
1898;
.1913
Vernon—
Ist,
Mt.
Boet. H. Tmi. & W.— Deb. 58..
107
Col. Trust, 6s
1908.
Evans. A Indlan.—lst, cons. ..1926 103
Brooklyn Elev.-let, O., 6b. ..1924 109>s
1st,
g.l933
Col.
Trust,
1907
58
Sjirlngs
B'y,
68,
Eureka
1915
2d, Z-h»
1895 107
C. Br. U. P.— F. o.,7s
Fl't A P. Marq.- Mortg., 68.. .1920 121
Brunswick & West.— 1st, K.,48.1938
Atch. Col. A Pac— 1st, 68.1905 104%, 105 la;
93% 96i« Grand Rap. A Ind.— Gen. 58. .1924 97 Hi 98I4
Blri. Ce. Eap. & No.— 1st, 5S.1906
Atch. J. Co. AW.— 1st, 6s. 1905 103
88
83
Green B. W. A St. P.-lst, 68 1911 106 108
1934
Oonaol. & col. tr, ,5p
1211s
1911
Ut. 80.—Gen., 7a
1909 looia'
Han. A St. Jos.— Cons., 68
..1927
annn. & St L.-lst 78,
93ii2,10O
ill
Exten., 1st. 7s
1909
Houston A Tex. Cent. Istm 1. tree 114 II5I2
towa C. & West.-lst 78.. ..1909
116
Missouri
103
Pac—
Trust,
tr.
reo
38..1917
West
Div.
g..
68.1920
78,
CM. Rap. I. F. & N., Ist
ibe' 110
95
Verd's V. Ind. AW.,' lat, 58.1926
1921
2dm. SsM. Ltr. rcc
l8t58
80
83
Ler. AC'y Val A. L.,l8t,58.1926
Houe. E. A W. Tex— let, 78. ..1898
Central Iowa— Ist, 78, Tr. Kecl899
St. Louis A San Francisco—
1912 •47
lUlnoie Central— let, g., 48. ..1951
EaBt'n DlT.. let, 68
9414
195
let, 68. Pierce C. A
1912
1919
nUnoie Division— Ist 68
let. gold, 3148
55
1952 101% 1021.;
Equipment, 78
1895
Cons. fciXa honilB. 68
1924 *
Gold 4s
116
1st, trust, gold, 5s
Spnngf. Div.— Coup., ..68, . 1898 114
1987 10216 102%.
Cent. RK. A Banking Co., Ga.—
1921 llS^s
Kan. City A 8.— 1st, 6s, g.l916 100 105
1937 103
Middle Dlv.— Keg., os
Collateral gold, 5s.
Ft. S. A V. B. Bg.— lat, 68.1910
Ohe«. <t 0.-68, gold, ser. A. ..1908 109
C. St. L. A N. O.— Ten. 1., 7s. 1897 113
1897 118
St. L. K.ASo.Wn.— 1st. 68.1916
lOOS 111
Conponsoff.
1st, consol., 78
1907
01168.0. & So. West .-2(1 68... 1911
Kansas Mid'd.— Ut. g. 4s 1937!
72>s 73 "a
2d, 6s
119
1951
Chicago & Alton— let, 78
1893 112 113
Tex. A Pac.K.Div.- 1st, 68 1905! 109i«
Gold, 58, coupon
Div.,
7s
...1894
SlnklnK fund, 6e
1903 123
2d
Pennsylvania
A
S.
Dab.
RR.—
b7is 68i»
Louis. <fe Mo. River- lst78..1900 1221s
Pa. Co.'s guar. 419S, 1st op. .1921 108
109
Ced. Falls & Minn.— let, 78.1907
1900 lis
Pitts. C.ASt.L.— l8t,ep.,7s.l900 119
2d7e
Indian ap. D. A Spr.—
9914
iieia
1906
8t. L. Jaek6.& Chle.— l8t,78.1894 116
Pitte. Ft. W. A
1st, 7s, ex. fund, coupon
Ist, 78. ..1912 142
1947
80
l8t, (tuar. (564), 78
1894 II5I2 117
2d, 7e
Ind. Dec. A West.-M. 53
1912 I38I4
30
Sdmortp. (3(!0),78
1948
1898 113
2d M. inc. 5s
3d, 7s
1912 133 -a
80
86
Istg.
58.1927
2d, guar. (188), 7s
1898 115
CityAOmaha—
Kan.
Clev. A P.— Cons., s. fd., 78.1900 128
92%
Ml88. R. Bridge— 1st, s.f. 68.1912 IO714
Kan. C.Wyan. A N.W.— l8t,58.1938
4th, sink, fd., 6s
1892 103 14 107
OWo. Burling. & Q.— 5s, s. t. ..1901 *108
Lake Shore & Mich. 80.—
St. L. V. AT.H.— Ist, g., 76.1897 114
lowaDiv.-Sink. fund, 58. .1919
1892 111%
Cleve. P. A A.— 7s
2d, 78
1898 1061s!
Sinking fund, 48
1919
96>a
Buff. A Er.— New bonds, 78.1898 121ii! Ii3
2d. guar., 78
1898 lOTisL
PUln,4»'
8bi2 SS^
1921
Kal. A W. Pigeon— 1st, 78... 1890 103
Phil. A Reading-Gen. I9
19.^>s
130
Nebraska £xtenflon 48
1927 921* 92%
1st,
78
1906
T.—
Det. M. A
Pine Creek Railway— bs of 1932
'74 is
CMC. Burl. & No.-Deb. 6s. ...1896
Lake Shore— Div. bondo,7s.l899 1221«
Pitts. A Western— lat, g., 4s. .1917
Chic. Rock l8l. A Pac—
1900 124
Consol., reg., Ist, 78
Pitts. Cleve. A Tol.— Ist, Os... 1922
86
Moines & Ft. D.— l8t,48.1905 ^
1903 124
Consol., reg., 2d, 7s
Pitts. Junction— Ist, 6s
1922 103
l8t,2i2S
65
1905
Mahon-g. Coal RR.— Ist, 5B.1934 10556 106
Pitts. McK. A Y.— Ist, 68
1932 113
Extension, 48
1905
,
Long Island RR.
Pitts. Y. A Aah.— Istns
1927
Keok. & Des M.— 1st, 58 ... 1923
lOG
N. Y. A M. Beach— let, 78. .1897
Rochester A Pittsburg—
Ohlc. M.& Sl.P.- l8t, 88, P. D.1898 I2312
N. Y. B. A M. B.— 1st, g., 58. 1935 119ifl
Butt.Eoch.APitta.-Qen 5S.1937 102
2d, 7 3-108, P. D
1898 119
Loulsv. A Nashv.Rich. ADanv.- Debenure 68.1927
iBt, 78, $ g., R. D
1902 124 126
1907 106
Ceclllan Br.— 7s
Debenture, ex coupon
95
l8t, La Crosse Division, 78. .1893 112
115
1920 103
Pensacola Div.— 6s
87
Consol. mort., gold, 58
1936
88
l«t, I. & D., 78
1899 117
1921 115
St. Louis Div.— l8t, 68
Atl. A Char.— ist, pr., 7s. ...1897! 110
iBt, C. &M., 78
liO
1903 124'a
1980
2d. 3s
93
Incomes
1900
iBt, 7s, r. A D. Ext
123
1908
Nashv. A Decatui^let, 78.. 1900 117=8 120
9G38 96ia>
Rich. A W. Ft. Ter'l. Trn8l6s..l897
l8t, 8. W. Dlv., 68
1900 114»2 115
1910 100
S. A N. Ala.— 8. f., 68
San Ant.A Arans.-l8t,6s,'85-1916
»u
iBt, 58, LaC. ADav
1919 -.02 s
1931 100
Loulsv. C. A L.— 68
Ist, 68, 1886
1926
89
90
iBt, H. A D., 7s
1910 121 14 I2i
98
Pens. A At.— 1st, 6s, gold.. 1921
101% Scioto Val.— Ist, cons., 78
1910
iBt, H. AD.,58
1910
IHSl
Collateral trust, 5s
65
Coupons oil
Chicago A Pacittc Dlv., 68.. 1910 120 123
Lou. N. O. ATex.— l8t,48.... 1934
St L. A LM.-Ark. Br., 1st, 78.1893 107
Clilc. A Mo. Rlv. Dlv., 58... 1926 * 991*
2dniort., 5s
1934 40
Cairo Ark. A T.— Ist, 78. ...1897 106
Mineral Point Dlv., 58
1910 '101
Manitoba 8. W. Col.— G. 58. ..1934
St. L. Alton A Ter. Haute—
C. A L. Sup. Div., 5s
1921
Mexican Ceut.— New, ass., 48. 1911
BcUev. A So. lU.— Ist, 88. ..1896 118 120
Fargo A South., 6s, Assu .. .1924
i20i«
Income, 38
1911
20
Bellev. ACar.— l8t,6s
1923
Inc. conv. sink.fuudSs
1916 • 90
95"
Michigan Cent.— 6s
1909
St. Louis AChlc— 1st, con. 68.l!<27
Dakota A Gt. South., 58
93
titi
1916
Coupon, 5s
i'u' St. P.Minn. A M.— Dak.Eit..63.19 17 118
1931
Chicago A NorthwesternJack. Lan. A Sag.—6s
1891 1051s
Miu's Un.— Ist, 6a
110
1922
Bscanaba A L. S.— Ist, 6s... 1901 110
Mllw.L.8.AW.-ConT.dcb.,5s.l907
Mont. Cen.-let. guar., 6s.. 1937
DesM. AMinn.-lst, 78....1907 123
Michigan Div.- Ist, 6s
116
1924
110
St. Paul A Dulutli- Ist, 5s
193
Iowa Midland-let, 88
1900 laHa 134
80
Minn.ASt.L.— Pa Ex.— l8t,78.1909
Sodus
Bay A So.— 1st, 5s, g...l921
"90"
Peninsula— 1st, conv., 78
1898 127
59
2d mortg., 7s
1891
50
Tex. Central— let, s. f., 78 ....1909
Chic. A Milwaukee— Ist, 78.1898 118
Southwest Ext.— let, 7s
1910 75
SO
1st mortg. 78
1911
Win. A St. P.-2d, 7e
1907 131
Pacific Ext.— 1st, 68
1921 * 60
Tex.
N.
O.—
Ist,
7s
1905
A
MIL A Mad.— Ist, 6s
1905 112
Minn. A Pac— 1st mortg. 58.. 1936
10418
Sabine
Division,
1st. 6s
1912
Ott. C. F. A St. P.-lst, 5s.. 1909 107
Minn. 9.8te.M.AAtl.— l8t,58..192G • 9i:'
94
Tol. Ptoiia A W.— lat 7s, Tr. rec,
99 100
Korthem 111.— let, 5
1910 107
1911'
Mo. K. A T.— Cons.,2d, ino
Tol. A. A. A Mt. Pi.— €8
1919
Ol. Col. Cin. A Ind.— Ist, 78, s.f.'99 •120
1890'
H. A Cent. Mo.— Ist, 78
ioGifi Tul. A. A. Acad— 68
1917
Oonaol. eink.fd., 7s
1914
Mobile A Ohio— Col. tr., 68 ...1892i •lOi
Valley R'v Co. of O.— Con. 68.1921
Chic. St. Paul M. A O.—
General luort., 48
47
4713 Virginia Midland. -Inc., 68... 1927
1938
Chic. 8. P. A Minn.— 1st, 68.1918 124
125
St. L. A Calio-48, guar
73
193l! 71
Wabash St. L. A PacNo. Wisconsin- let, 68
1930
Morgan's La. A T.— 1st, 68.... 1920 103
CUiiago Div, 33, Trust reo .
88%
Bt. Paul A S.
let, 6s ....1919
12e^ Ist 78
1918 123 l-.i5
Havana Div, 6a...
1910
Ohio. A E. 111.— 1st, s. f., cur. 1907
120
Nash! ChatVASt.'L.— 2d, 68"l901 108 le
Indianapolis Div.— 68
1921
Gen. con., 1st, 5s
1937 97»e 97%
Consol. gold, 58
9914 'b9is
1928
Detroit Div.— Us, tr. rec
1921
Chio. St. P. AK»n. C.-5S.... 1936
N.J. June— Guar. 1st, 48
1986
Cairo Div.-5s
1931
Mlun. AN.W.— Istg. Ss... 1914
N. Y. P. A O.— Prior Uen, 6s .. 1895
Wabash. M., 7s, Trust rec
83
Ohio. * W. Ind.-lst, s.f., 6s. .1919 *il2'"
N. Y. A Northern.— 2d, 48
1927
5638
Toledo A Wab.— 1st ext., Tr. rec.
90
General mortgage, 6
1932 «114ia
N. Y. A New Eng.— 1st, 7s.... 1905
St. Louis Dlv., 78, Irtiat roc...
90
Ohlc. A St. Loulo— let, 68
1915
1st, 6s
1905
2d M. ext., 78, Trust rcc.
84
Cln. I.St.L.A Chlc.-l8t,g.,48.1936
Equip, bonds
CIn. Jack. AMac.—l8t,g.,58... 1936 "i'i" '95" N.Y. Susq.AWest.— Deb. 68. ..1897
1883
13
2d,
4»28
1937 76
78
Cousol. couv., 7s, 'H'ast rec
Cleveland A Cuutou— let, OB..1917 - 92
9o's N. Y. N. H. A H.-lst, reg. 4S.1903 108
Gt.
West.-lst.
Trust
78,
reo
90
93
tioL A Green.- 1st, 6s
19I6 •102
N.Y.Tex. A Mex.-lst, 4s ...1912
2d, 7s, Trust rec
Sd,6B
85
1926 ' 73
Northern Pac. - Di vidend scrip
CJuin. A Tol.— Ist, 78
OoL A Cin. Midland— I8tr68".'l914 *...... 93
1890
Dividend extended
Otturd'Alene. 1st, 69, gold...l9lri
Han. A Naples— Ist, 78
1909
James River Val.— ist, 6s. .1936 105
DeL I>ack. A West.— Couv. 78 1892 109
111. A So. Iowa— 1st, ex. 6s. 19 12
Spokane A Pal.— 1st, 68
1930 991s lotas
Mortgage, 7s
8t.L.K.C.AN.-R.E.A RR.7s.'95 109 112
1907 1^7
St. Paul A N. P.— Gen., 68.. 1923 118
120
Byra. Bing. A N. Y.— lst.78.1906 135 1« li36i.
Clarluda Br.-68
191a
Helena A Red M'n—l8t,g.,6s.lU37
Moms A Essex— let, 7s
St.Charles Br'ge— l8t,6s.l908 ioi"
1914 143 Id
Dul. A Manitoba— Ist, g. 68.1936
97
2d. 7s..
No.
Missouri—
let,
78
1895 112%
1891 110
Do DakotaDlv.— let. 68.1937
102
West.N. Y. A Pa.-lst, 58 ....1937
92% 93
1900 li2
5*'°'}'VoZ?;
Hel. B.Val. A Butte, 1st, 68.1937
7b of 1871
gold
2d
m.
3-f.8
192
39
1901 l'.3 1271,
Drummond A P'bg — 1st, 58.1937
l«t,cou.,giwr,7B
Warreu
A
Frank—
Ist 7s. ..1896
1915 137 IBS'*
Helena A No.— let, g'd, 58.1937
DeL A Hud. Canal—Ist, 7b... 1891 106 107
West. Va. C. A Pitrs.- ist, ii3..1911
La M. A Mo. Rlv.— Ist, 58 1937
West. Union Tel.—Coup. 7s.. .1900 116
Ji>t.ext.,78
1891 109
N. O. A No. E.-Pr. 1., g., 68 ..1915
Oonpon,7s
N. W. Telegraph- 78
1904 105
1894 •U.lis
New
Or. A Gulf -let, 6s
1926
P^ Dlv. coup., 7«
105
Market St. (Jalile Ry., 1st, 1^8.1913
191
142
Norf. A W.—New Rlv.-lst,6e.l932
Albany A Susqi ehanua—
116
Manliat. Beach Imp. Co.— 7a. 1909
75
Imp. A Ext., 6s
1934
iBt, cons., guar., 78
Am. Water Works Co., Ist. 6s. 1907 103% 105
1906 132
Adjustment M., 7s
1924
110
iBt, eons., guar., 6s
Xeun.
Coal
Iron
A
Railway—
i»06 1-/4
EquipiLcnt, 5s
190s
I'euu. Dlv., 1st, 68
191'
_•*•"> * oar.- Ist, eoaD.,78.1921 145 "a
Ogd. A Lake Ch.— Ist, 6s
1920
Bir. Uiv.— latcou.ea
SSij 86
1917
9- * ^^l'- !«'. 6....1913 107i« loo's Ohio A Mi.is.- Cons.,
S5^
?K*7
s. f., 7s. .1898
II514 no's Col. A Hook. Coal A I.— 68, g..l9l7
Dnluth i Iron Rai.ge-lst, 68.1!'37 93 >«
Sp'gdeld Div.— lat, 78
1905 107
501.80. 81.. A Atl.-58....... 1937
Georgia
Co.,
N.
58
1937
93
9i\ Genei'al58
1932
«. Tenn. Va. A Ga.-let, 7».. 11900 121
Free List.
Ohio Cent.-lst Ter. Tr., 6a". 1920
DIviHloual Sb
Cumberland A Peuu.— Ist,6s.l891 1031s 1051*
1930 *10b>s
Mln.
Div.—
1st,
6s
W,
1921
K. A
of A la.— 1 st,con8'6's! irV. 1 92(i
St. LomsSouth.- l8t, 4s
1931
80
Ohio River RK.-l8t, 58.. "lMa6
lto.C. AN.-8.f.,deb.,6s...l921
95
WabKSh Fund d Int. Bonds. .1907
Generiilmort., gold, S8
1937 80
lBtniortg.,es
Tol'doA
Illinois Oiv.-7a
19^0
Oregon A Cal.— let, 58
1927
«rU>— let, exiended, 7b..
Lake Erie Wall. A St. L.— 7s
1897 •121
Panama—Sink. f(t,8Ulj., 6s 1910 9319
2d, extended, Ss
Great »Ve8terii-lat. 78
TiilSig
i'ii
Peoria A Pek U'n— let, 6s.... 1921 107'
3d.
Decatur A K. St. Ivoiiis— (is
111
9.f^ M.
4 1*1tSloek
Atsh. Top.
Exchange
&
Prices.)
Fe—4»«8...1920
Siin.
BlnkfiiK fiin.l, 68
Collatornl Trust, 5s
'
m
C—
C—
:
Dw
<t
.
,
'
C—
,
1
C—
1
*
Ho pnoe rnout UiMo
;
are
IMMt
qnotatloiu
made
this
we»k.
iv>i
'IVil"<1
X-
W .I'ns'i-
2il. (Is
JuBT
New Vork
i*
a.'*
-.
.
1
THE CHRONIC LF.
93, 1888.J
31, 1888,
1
1
1
Bank Statement for the week endini; July
We omit two cipliers (00) in all aaxes.
City
follows.
105
BECUHITIES.
HRCnRITIEM.
Atk,
Bid.
A BrosdTop
Rnn'Ington
Preferied
Bankb.
LoaM.
Capital. Sitrpliu.]
|
SpecU.
ttgaU.
|
Dtfotitt.
•
Mew
Bank
*
)
*
1
ot
York...
AfHutiattai) Co.... ....
Won'liant-*'. ...... ....
2,0( )(),()
1.0'il,.-.
•2,o.'>o,o
.171,1
•2,000,(1
747,!)
ilorhaiitc.'*'
2.000,0
,4Slt,,'-.
8.(1911,(1
Am(*rlL-a
3,(M)0,(I
1,(N)().0
1,0(>().0
,.1)07.11
13.191,6
r.oi.t!
3,41(1,0
1.000,0
•211,0
30(),((,
i,.'.Hl,0
000,0,
1,000,0,
1I0,.^>
,'25.5,4
PbeDlx
Cttr.
Tradftsniou's
Ch»*mU*.«l
lierctianiH' Rxcb'age
Gallatin National
Bntchyri*'* Hrovera*.
Afochitnlni'
(ft
Trttdera
2(>().0
(100,0,
300,0
<iL'v<Hii!i N.ili 'iml
Stiit.i iir
y.irk...
Nnv
Amorio 'II h:x.cUaUtfe..
Couimeroo
147,0
HI, 4
2.0.M1.0
i.r2r.,«;
108.1);
.•20.21
3,300,2;
919,9
.014,7
'2(),00-2,9
6,406,3
1,091,3!
."iottS
8,630,71
2H1),7,
2,000,9
9,707,8
1,38.8,3
0.68,8
2,4IC2,2
9-20,Oi
7(i0.5
4l):t.4'
JPeoplea"
Kiiriti America
200,0,
2-20.8
700,0
34^2,^2
1,000.0
!)71,."!
50(),()
2H.'i,a
600,0,
364,9
Kassfla
500,0
^60,0
ll>l>,e,
(!20.ll
5()i),il'
o*2'2.2
A
tfc
Fultua
r*ertther
Corn ExcIiitnKe
<;ontlnental
!
.tlMl.O
I
it Trailers''
l..--l«l,()
Parle
L'.IHIll.O
Nortu River
'J
Si.Ht Rive"
riranli NiHIonal
Cdutral National
IBeconil National
I
I
:t,'2oo.o
'2.000.(1
:ic)o,0
4,9()0,9
'2,031,9
2,307,0
l.P2(),2
2,9hi!,6
1,681,2
3.679,5
10,241.0
10,074,8
6.111,2
1,809,1
300,6
908,7
290.9
590,2
8,81(1,0
3,109.0
1:1.303.0
509,-*
6.016.0
2.081,0
203,0
689,8
14.407.1
.3.'2."','<,(l
3.03(1.9
2,997,4
4,10(;.3
1,609,0
308.0
571,0
3,^204,O
16.->,0
6,-2-21,9
4,84 1, 11
729.0
031, ll
94,5'
.'<09,8
2,111,0
,(10(!,3
21,204,9 6,419,2 1,050,2
,704,G 1.8,847,1 2,3,69,31 3,740,7
110,71
211,2
1,965,2
2(19,2
:ir...'i
1,334.5:
310,1
124,9
,1.57,2, 1(>.9S,''),4 2,843,9' 1,880,1
602,2
0,020.0 2,332.0 1,313,0
200,0
3,253,0
440,0
9II.0I
6,691,7
.S47,«
2,0-2ll.()
0,778,1)
1,030,9,
T,"iO,(>
26.S.9
nllO.O
6,,fl2!).4
:)oo,o!
203,0
110,9
Nail Kxcbange
•J.'iO,nl
3,'>2,9,
;
Bowery
German Kxcliange...
Oei mania
93,0
7.'>0,0
216,4:
•2,732,0
63i),l
6011,0
617.7
1,816,8
1,928,3
139,8
77,4
2.] 00,0
400,5
360,0
1,740.1
10,118,4
66.3,0
1,^2^24,0
1,39^2,2
t!«l,3
8,139,4
3,821,7
341,3
2,60.>,4
•200.0
344.9,
4H1.4'
2,348,1
4,047.2
2,430,0
2.434.0
600,0
Lincoln
soo.oi
<3araelil
200.0
Wftli National
Bank of the Metrop..
l.'iO,0
101.2
223.8
239 2
408^ 11
300,0
200,0
600.0
^iile
•200,0
3,5(M),0|
Total
197.11
lIMl.o'
•2(H),0,
tlnlte'l States
'Seaboard
41xlh National
Western National
143,2
741,8
146,7
501.8
471,8
124,0
245,1
220,4
208,9
362,0
207,6
402,0
160,0
1.43(5,4
3,7.89,8
86,5
848,2
143,2
181,1
1,'220,3'
810,7i
461,8
376,2
1,000,9
Debentnre eoap., 1893.
Deferred incomes, np ..
1st pref. Ino. 6s, 1958..
4s. g., IPSm..
5s, Istsin., I9'i2
C0D8.
Oona. 6s,3dser.,c.,1933
2d pref
3d prof.
RAILROAD BONDH.
AUegh. Val.— 7
3.1 Oa. '88
II314
A
Cam.
(Is
MnnfuA
15.
ns
RAILROA
UUNDH.
11
I
Atlan'aA Char.— Ist,
—
120
ad, 78, reg.,1910
Cons. «s, O.A R., 193:4..
North Penn.— Ist M.. 7s.
N.Y. Phil. ANorf -l8t,6s
Inco ue, G*
Penn. .-(slen. ,6s, coup, 1910
Cons,, 6s,ooup...l9C5..
Cons., 5h, coup. -.1919.
119
121
ilUlHi .......
101 1-j
78.1
Income, 68
Baltimore A Ohio 48
Cape Fear A V ad. Ist, 6s
Cent Ohlo-6s, 1890
Char. Cul. A « ug.— 1 st, 7s
C.u. Wash. A Bait.— iBta.
105'.,
Len.V.— lst,tf8,C.AR.,'t)8
\
104 ^B 105
II014 110^
1
98^4'
'
72>«
*0'*
71
2ds, »s
8ds, 88..
1st Inc., 6s, 1931
I
40
Seab'd A Ro'n'ke— 5s, 1926
Woit. Md.. 3ti guar., Os.
Wil Col.A,VnK.,0«.l»10 iiov.
Loan
i
93
V[nr,
Norihorn Central
fifV'Ys'*
Wiim'gton Col. A Aug'sta 1 10 ....^
T,— 1st, 7s..
Per share,
I
48 >a' SO
A L.—4e
Consul, M., Os
t
123
lOOSi......
Pieft'iTod
2d mortg., 7s
23,-202,9
ll7>.jISHI
90
Codiioctlng— Os
Delaware -Mort., 6s
Del.,xlid.B.— 1st, 78.1905
Klmlra A Wlll'm.- 1st, Os
Harris. P. irt J,
6,6
101
let pref
prof
M
Central Ohio
1900
7«,
A Jeff.— Ist, 68
A cm. Mld.-lst, 6s.
Cle.rfleld
Col.
Oil,
'.,
61',
)(l(|i,
H«I.TIi«l»K.ll.
RAILROAD STOClfS.f
Baltimore A Ohio
Camden A All.— 1st M.,78
Cauiwl«"a-M.
0.-.
.
W.A Halt.- Tr.u..4s
Warren A Frank.— 1st, 78
Wear. Jersey— 1st M..'/b..
W. Jersey A AtL-lst, Bs
Anib.-JI„ 6^•89
..._
M»4l
inc. 6s, 1968..
Inc. 5s, 1958...
Phil.
.
7», B. ext.,1810...
f no. 7s. end., nonp., '94,
Bells Clap— Cons.,
1
121
101
HM >.j 8«l^
99^1 loo
82'.
82»«
Newgnn,,
United (o'sol S, J
West Jersey
Last price this week.
New York Local
1.6'2'2,6
17.694,4
9.278,0
4,209,0
5,660,4
21,260,7
5,090,3
1,300,6
2,40^2,8
.3,120,8
2,060,0
B.VNK8.
Broiulway
BntohVA
Central
3.877,7
3,007,9
2,743,0
4,476.4
Cha.*(?
'2,7.S.-<.3
1,810,6
4,794,9
2.298,4
'2,992.0
2,090,0
9.312,9
...
Geriiiania
226
270
150
200
Greenwich...
1'20
Hanover
196
130'
1'29
,'230
Chatham
II
205
Dr. 107
230
3400
C'hcinlcai
Citizens'
Secnrltles.
Bank Stoek tjUt.
BANKS. Bid.
172 "2 Galliilhi
140
fiarliold
Gi'i-inan
103
171
Am. Kxch... 138
Asbiiry Park 99
8,7ii",6
3.-2;!7.
Ask
Bid.
America
Am.
Orlciit.>l
I'aelflo
Irving
Park
1.60
Mjinliattan.., IC.S
Mcclianics*.- l(i7
M'chs'ATrs'.
11th Ward... 1.60
l-'itth Ave.... (800
Merchants'. 138
Merch'ts Ex. 118
12000
loa
1
1
I2OO
'Kw
...
liss"*
St.
Nicholas. 112
iSeaboard
1118
120
Seventh
140 "2 143
115
142
Second
3'20
2*5'>
ShoeAI.eath. 'U2
235
1
i2"3 State of N.Y. 117
Trado;*nK*n'8. il03
'I'liitcdSfcs. 210
13
Maa and Cttr Railroad gloeka and Bend*.
;Bia. .\sk.
GAS COMP.\NIES.
GAS COM ANIF.S.
:
175
,166
'185
. '130
Hepubllc
lOia
etroplitau
iMctropolis..
INnsfiau
128
140
lYo'
1.66
iVf
1.39 Hj
Stri-et..
167
Mercantile... 148
Fourth
14th
People's
Phoi.ix
Markft.t Ful 171
108
128
Ask
Did
I
215
N.Y. C.pHnty. 210
IN.Y.Nat.El. 120
138
iNlnth
In. America.. 140
'North River. ;136
Hurt. River.. 160
Im.A Trairs' 3,60
C'orn Kxch... ;210
Ea-'t River.. 136
First
BANKS.
New York...
Li-athcr Mfs' 196
ll40
fit.v
340
f'liiniiierco. .. '1(36 '4
C'"iitiiientfil . 121
Agg.Cl'ngo
Circnla'n,
|
Phila.A Reading
ii'iij''""
133
134
..
Bid.
I
I
I
7 147,336..300
9,797,300
14 140.'29.-.,^200
" 21 140,177,30(1
9,',>07,100
1(),-2S7.000
••
3,004,300 1:7.811,709 0,107.,600
3,279.200 1 17,467,1>0I) 0,108,000
3.097.8O0 11.8.410,90(1' 0.181,100
Lawful Mon'y Deposits.'
Loans.
90,fi32,40.j
82,629,05'i
86,306.S6g
—The totala have been as follows
Philadelphia Banks.
1888.
92.720,000
14.
21.
02,806,2(H)
9^2.930.144
*InoloillnK the Item
1
"doe
30.996,200
30.057,009
97.972.000
31,70,6,161
98.920.319
to other
97.978.21HI
20,8.60
SECURITIE.S.
Bid.
341 108
6! ,770 702
O: .679.192
li.
I
1(H)
103
23"
44
431a
"0
T. C.
K.O.
t
C. Kt. Scott *
.1
..
Jf-. O. Mempli. (fe Hinu
EiOuisville Kvans. JtStL.
Pieferre-l
Maine Central
Man* he.ter Ji I^wrence
Mexican Central
N.y.*N. Eng.. pref
Northern
Norwich A Worcester....
it
Lake
(Jttam..
Otiicoloav
p.ir^and Macoifc Ports...
4duiuiuit
Branch
AMh. * Topekr— Ist.T*.
{
I
I
I
;
10
Incomes
I
I
Wlscoii. C**nt.
168'4'l68'4'
Income 6s
!l'25
...
121
i
Lmt cries
— Ist
M., 5s
ftHUAItELPUIA.
RAILROAD BTQCK8.
Bell's
Oap
I
...,.« eek.
-^d
110
7ihAv.— St'k..l
Am. Bank Note Co.,
A Char. Air Lftie
Brooklyn Klev'd- stock..
Brooklyn A Montauk
Pref
.
L.
Obaht, Broker, 145 Broadw»7.]
uMi
-^8
1112
..1170
1.65
;
107 >»
I
210
ll',S
30
112
I
56
I
ll'i
3ds
•4
Hendersrn Bridge— St'k.
Kanawha
,
io'-f"
104 Iga
170
IO<i
21&
102
225
112
Mt Des.AEast
2d piet...
Lehigh
A
Wilkea Coal...
Mahoning Coal
RB
Pref ...
](#» v.it r'/>t,«,,T,«»'., On
72
8
88
C
16
37
88
'.>1
37
Sh.Lil.Co.
212
,
Pref
lersey
New
A
N.
Pensiusola
A
Port Uoi-alA
28
31
8
iio
10
13
•20
•2-i
Atlantic
3
Aug.— let... 100
Louis
Pref
St.
A
35
90
.35
PaulE.AOr.Tr.,l«t6s
1
A West...
1st, 4s
Vicksb. A Merldiax— 1st.
3d mort
Incomes
Htnok, pref
vr
16
14
14
Chicigtf
Toledo Peona
40
a
•t
Incomes
Rich. York Rlv. A Ches..
St. Josej h A Grand IsL..
10
8
18
2-50
7
Y.— let. KM)
80
00
'7H,
,3U
I
Ocean steam.Co.,lBt guar. 102
Tol. A. A. A N. Mich
Tol-tlo A Ohio Central
Pref
6
AOmaha
reo
A Miss Val
N. V. V.-.S.A Buff
N. Y. A Green'd Lake, let
art mort
N. Y Mutual Tel
N. Y. A sorihem
St.
I
100
2 "a
A Ohio......
6V
tr. rec.
tr.
Newp. N.
1st pref
1st mort ..... ... ........
Ke»-ly Atotor
52'e
1st mortgage,
New 1st 6s
100
38
'
l8l»>s
42
Mexican National
20
90
35
50
95
California Pacific
OH)
Ist mo't., 4108.
108
106
2d mort.. gear
110
100
hlc. Burl. A No —Stock.
44
60
Chic. A Atl.— Bon., tr. roc.
a
7
Clue. Gas Trust
35
35 Hi
Lien. A Bio ur. W.— St'k.
14i.i
13
Dul. s. Shore A At.— Stk.
8
Prel
21
24
'20
East A West RR. of Ala.
Fia.R-yA Nav. Co.. consol.
22
v^eorgia Pao.— utock
14
16
Ist 68
107 4 108
Kan. City
t
Caxiideu .V At antic, pref.
Eant Pennsyh'aiiia
Einiira
William T)ort,.l
A
95
99 \ 100
93
94
91 '-J 93
88 (-J
39
3g<«
I
I
178
A
All.
96
94^14
Ills
&)«inthem Kansas—As
Texas Division— 58
141'i 141%,
'B
tPet^iLare.
114
14\ BuUaiid-.Ts
14>3
19
18
171-i
3714' 38
Preferred
BONDS.
l.aw.tfc So.— 6a
.t IJinn— 58
Memph.
1
116
113
—
I
N
9
20
130
216
U2
no
101
Unlisted Securities. Quotations from both Exchangee:
SECURITIES.
BECURIllKS.
Bid. Ask.
I
—
78
49
914
Wlsooasin ceLtral
Coll Ti-'..'
'
<.
.
41
101
Fill. K.— Stk.;
7s., 1900
137
109
I
114
88
I
I
104
99
Equitatile
Bond.-*, Os
no
I
1 "-J
Cit. »t. Jo.4 ( -, B.— 7s l'2(l'-j
City 8p'd & Mem.— 6s 111
K.C, Clint. A .Sprlngf .—68
90
Lilttle B. A Ft. S.— 7» ....' 109
LonlsT.Ev..tSt.L.— l8t,6s 103
104
2d morI.,2-B»..
64 Hi
Mar. H. A Out.- 1908, 68, iiivr'i
1923, 6s
99
0';i.j
Mexican Central 48
G7
)<
Income
19>a
Y.AN. Kn».-lst, 7s..| 12J '1 1'23
1st mort., 6s
lll>i 115
art mort.. Ha
105
Ogdens. A L.C.— Cons., 6s 100
124
132
'
102
iOO
111
84
I
K
;
Ogilenib,
iof"
.
Kan.
140
112
Xistem
120
Preferred
130
FitohUur«, pref
85
7ilnt & Pere Alarqnette.i 49
Preferred
100
Pass
100
i'2e
106
80
105
135
105
110
I
116
108
11
1
89
,'
Vermont— Bs.-I 87
SS"-!
new .1 122
*t. Scott A Mer..6s lll»iH2
Port soon A (4.— 7s 11
Kans. City
Concord
Mem
'
lncoii,e, 6i
lllLj l£. c.
Uhlo. Burl.* North'n
Chl<;aKo A We.-t. Mkh...
4)le7eland <ft Canton
Preferred
Km
68
nEa-tern Vass.- 6
93
SB. Qnotatlons by H.
A
Municipal
Bonds, Os
Fnltoii
91
7S
71
1-22
'
Consol. ot
201.J
41'-i'
CJieslilte, pref
Jb
'
Non exempt,
Land grant, -/s
iS)" Calif oruiri South.— 1st, 68.
* Lynn
Preferred
Kxempt.Os
|104
|218
21li
106
Pconle-s (Brooklyn)
60
Williamsburg
103
Bond."!, Os
70 14 Metropolitan (Brooklyn).
Municipal— Bonds 7s
I
6b
SCortgage, 5s..
...
102
rmst. 8s
Bnrl. ifc Mo. R. in Neb.—'
ss--^,'
California K>uuthern
._
Central of .Massachusetts
<!onuei:tleut
Ask.
Bid.
1
t'laiu,
..
Boston Rov.
SECURITIES.
103
48
100
70
106
114
160
Eighth Av.-stock
106
Scrip, Os, 1G14
1102
104
1st nibrt., 6s, 1904
42d A Gr'ud St. F'ry-Stk. 206
Ilol
lOSia
,110
•2d mort., ,6s, 1914
1st mort., 7s, 1893
B'way Suiface b-ds...l924 95 KM) 42dSt. Mauh. A St..N..\vc.' -25
'110
lioiM'S guar., 59, 1905
90
95
1st mort., Os, 1910
{,
2ti mort., income, Os
60
Brooklyn City-Stock
125
128
llOO
1st mort., ,6'(, 1902
Houst.W.St.AP.F-y-Stk. 106
110
Bklvn. (ro:'Sto»ni— Stock. 212 225
1st mort., 7s, 1894
|110
1st iiiort., 7b. 1888
|1()0
76
Ninth Ave
1106
Bushw'k Av.(nklvn)-.St'k 140 1,60
Second Ave.— Stock
Central Crosstowii- St'k..ll60 160
1st mort, 5s, 1910
|1()3
Illfi
Sixth Ave.— Stock
100
1st mort., Os, 1!'22
120
106
Cent. Pk.N.AK.Riv.-Stk.' 82'a 85
1st mort., 7s, 1890
Consols. 7s. 1002
.1110 1118
Third Ave.-stiKk
212
Chiist-ph-rAlOthSt.- Stk.'l20 1'25
Bonds, 7s, 1890
jlOl
Bonds, 7», 1898
1111
Twonly-third St. -Stock.. 1220
113
DrvIik.E.B.A Bat'v-Stk.']36 Il40
[no
Ist mort., 7s, 1893
'KIT'-.; 109
1st mort., 7s, 1.S93
Bi-d-av
Atch iT'p'a.— (Cont'd)
BOSTON.
RAILROAD PTOCKS.t
Atonison A Toi Bfta
Boston & Albany
Boston A Lowell
Boston A Maine
Boston A Prorideio e
[City
Bl'ckerSt.
1st mort.,
banks."
Ask
Nassau (BrooklyiO,.
Scrip
Quotations in Boston, Philadelphia and Baltimore:
Following are quotationsof active stocks and bonds. A fu'I
tot is given in the Chronicle the third Saturday of each month.
'
Y.)
omis, Os
«
'"
2,716
I
Gas-Light
......
Bonds. 6s
CouHolulated Gas
Jersey City A Hobokcn.
Mi'tvt'ipolitaii— Boud.s
Ciroata'L^'Agg.crn^^
:2O,8.-,0
Lifcht
Cit'/.oiis^
Mutual (X.
I
Joir
Gas
B^-ooklyn
$
9-
t
July
|L.T'uder8.j Deposits.
Specie.
1
Cona.,6s,g.,I.R.0.19n
Imp., 08, g., oonp.. 1897
4>!is,tfrust
00,70^2,7 49,0(;0,0 379,030,5 91,475,4 38,744,3 415,1 17
Loans.
>U., 6*....
IHtfa
Central
Norih Pennsylvania....
New Vork Phil. A Nort,
Pxiinsrivanla
Phil. A Erie
24,8(111,4
Boston Banks.— Following; are the totals of the Boston banks
I9%i
r.
2.301,1
4,'200,4| 1,909,5;
481,7
22,330,91 4,619.4' 1,'279,2
4,080,4 1,348,0
307,6
1,486,1
272,3:
144,2
2,184,21
715.41
l().->,0
2,307.1
771,61
102,0
200,0
A
Ooaa., 7«, oonp., 1911
3.99(1.4
aoo.s
1,MOO,0
I
TTew York County....
<}er. nan. American
Chase National
Vi4tli Aronae
We<t
3.9,'<1.4
|
Ninth National
¥lrHt Nation il
liird National
1«. Y.
10,0
•.>.-.o,o'
)
22.6111.;^
.3,084.0
408.3!
3,049,0
,07S!»
1,111)0,1)
Orlontiil
Importers'
•2^^7'*2
r.oo.o
i.DiiD.n
'
.•'1.3
306,71
3,608,7| 1,010,0
•2,917.0
780, ll
244,6
24.6,1
2,042,91
079,71
2,303,1
470,8
309,0,
4.'244,0
075,61
248,0
1.704,2!
90,5
240,31
Xrrin?
Market
4,579,7|
1,843,6
3,110,0
12,096,2
OltliflnV
-fihoo
9^2^2,7
4,108,0
2,379,2
,4,'i8.'2
4.-.0,0
St. Nlchola<
600,(1
1.34()„'>
3,007,2'
Chathim
UauuTer
40-2,3
01-2,1!
74,<!
14.901,0
1,6(M).0,
93«.2
6,607,4
1,931.8
4110.7
170,6
840,3
089,9
748,8
166,7
289,0
130,4
209,8
107,0
203,4
8,240,6
4H9.4
ad,7(,0.
Sunlmry A Lewlaton....
n3,-.,o
3,-28-2,5l
,r,i3.ti
lli>I>itblio
(19,0
'61-2:4
2.813,1
11 9,3
1, •200,0
6,000.0
1,000,0
1,000,0
422,7
672,0
l.-.'ll,0
111,
U,IK1(1,0|
firoartway.....
Moi'canllle
Paeltio
80.1.0
l.^tS,!)
3.37!!,o'
Pim. AR.-lst
K
Xfei'iui'honlng^fllioy...
.>,<rt.iiern
1,290,0
•2,091.0,
UIO.O
•2.48(1,3
814,4
H.lli)7.1l
•270,0
•200,0
'.I'M.
•
3,020.0
'2,630.0
10,17(1,0
7,267,(1
:,'2i(i,.'-,
300,0
<JI>_M"I1WI'-Ii
L-'atlHT M.umfii
Leblgb Valley
•
"iBHohaTlklll
ui'hill A
Ba*en....
X
(00< ointUrd.)
Aak.
Bid.
Perklomeo— 1 st, Os,np.*fr7 100 '4
Penn. A N. Y. Can.— 7 s,' 98 117
PbUs. A KrH-on.. 6s...
11S%
.
—
17
78
47"
'
I
•-
100
2a
—
.
—
.........
.
mh
.
CHKOiViCLK
Latest Earnings Reported.
B0AS8.
2LV1I.
r'/oL.
WeekorHo
1888.
1887.
Jan. 1
to
Latest Date,
1888.
1887.
9(
K.
C.Wy.&N.W. 2d wk July
7,040
74,200
5,083
3,672
38,132
40,921
22,551
692,-06
9,487
366,734
14,769
306,22 >
45,052
30,412
83,( 88
5,880
26,712
101,177
11,725
132,581
73.386
68,001
18.176
114,339
192,258
228,lMl
9,311
67.530
May
Kentucky Cent
Keokuk A West. 2d wk
.Tuly
& Pem. 3(1 wk July
KnoxT. A Ohio May
Lake E. & West 3d wk July
Klntrst'n
.
133 pages, Lehiirh&Hud
27ie Investors' Supplement, a pamphlet of
Leh AWilB.Coal
and L. Rock A Mom
contains extended tables of the Funded Debt of States
Lone
Lsland
and other Louia.Ev.ASt.L.
Cities and of the Stocks and Bonds of Railroads
Loulsv.ANashv.
Companies. It is publithed on the last Saturday of every Lou.N.A. & Chic.
ether month—viz., January, March, May, July, Septem- Loulsv.N.O. AT.
Lykens Valley
ber and November, and is furnished without extra charge Mar.Col.A Nor'n
June
June
Extra copies Meraphis AChas.
to all regular subscribers of the CBRomcLV.
'Mexican Cent
Guad'jaraBr.
are sold to subscribers of the Chbonicle at 50 cerUs each,
•Mex. N. (aUlna)
and to others at $1 per copy.
*MexicanRailwy
2(1
The General Quotations of Stocks and Bonds, occupying
six pages of the Chronicle, are now published on the
third Saturday of each month.
2d
June
2d wk July
3d wk July
3d wk July
:^d
LaUtt Hamingt
ITeekorMo
June
S
& Char Mny
AtlautaAW. Ft.. June
Atlantic & Pae. |'2d wk July
to Latest Date.
Jan. 1
1888.
1887.
$
160.323
798.165
779,179
5,838,162
7,549,759
511.646
542,287
84,600
183,325
196.147
24,.'J35
23,784
45.684 1,432,093 1,476,683
47,155
1,336,6781,278.081
B.<S;O.Hii.st.l.ine8 Juno
374,401 363,315
Western Lines. June
l,7H,ii7» 1,641,396
ijuno
Total
745,431
701,391
133,869 122,797
Bait. A Potomac Ji ne
474,301
361,359
59,637
67,050
June
Beecli Creek
985,216 1,100,773
41,732
33,489
Bufl.Koch.i'tt Pitt 3d wk July
66,34-2
1,248,681
1,372,471
62,955
Bur.U.Rap.cfeNo. 4tbwk J'ne
367,891
393,901
16,092
17.843
Cairo V. ik t'luo 3d wk July
998,158
812,065
32,318
29,4lJ3
3d wk July
Cal. Soutliem
184,984
182,145
45,312
49,744
ICamden & Atl'c May
6,560,»t'4
5,454,-93
262,000 237,000
CanadiHii Pacltlc d wk July
151,378
24,154
17,984
123,331
Cp.F'riYart.Val June
3(1,121
215,142
203.675
31,004
Carolina Cent.. May
445,505 345,144 2,758,12(i 2,318,079
Cen.RR.&Bg.Co, May
661, '25(1
25,999
24,340
688,818
2d wk July
Central Iowa
June
1,074,180 988,157 5,756,047 5,281, 4W0
Central of N. J
1,262,434 ,088,999 4,676,676 3,724,362
Central Patllic April
44,277
35,710
6,318
5,666
Central of 8. C. May
35.697
261,497
227,820
42,878
Charlest'n &Sav May
31,285
4,768
3,508
33,838
Cberaw & Darl May
908,500
138,850 144.446
825,797
Che8.0. &8.W.. June
368,671 361,925 1,807,526 1,674,280
Ches. (fcOliio.... May
304,570
EUz.Lex.&B.S April
66,637
78,584
305,293
April
167,352
44,886
50,021
Cbesliire
188,759
5,356
3,7 09
33,757
26.516
Cbes. * Lenoir. May
36,54!
42,324 1,185,51" 1,148,077
Chic. & Atlantic. 3d wk July
146,08' 238,403
621,358 1,067,618
Chic. Burl. &No, May ..
1,7*9,187 2,152,072 8,022,032 11,135,273
Chic. Burl. &Q. May..
Chic. & East. 111. 3d wk July
46,880
43,930 1,093,807 1,073,908
Chic. & Ind. Coa! ;-fd wk July
9,800
8,170
268,097
199,160
Chic. Mil.ASt.P. 3d wk July
458,000 432,306 11,883,000 12,488,664
Chlo. & N'thw'n June
2,286,974 2,166,218 11,477,426 11,799,837
•22,402
Chic. (feOh. Riv .June
3,987
4,734
31,734
Ohlc.St.P. AK.C. June
188,741
138,477
950,490
586,288
Chlc.8t.P.M.&0. May.
472,176 582,381 2,232,578 2,442,783
Chic. & W. Mich. 3d wk July
27,698
26,136
754,366
739.630
Cln.Ind.8t.L.&C. May
215,713 217,707 1,042,159 1,068.001
Cin. Jack. & Mac. idwk July
8,376
249,685
8,984
214,090
Cln.N.O. &T. P. '2dwk July
71,557
61,892 1,853,584 1,687,307
Ala. Gt. South 2d wk J\ily
23,746
24,940
782,857
763,721
N.Orl. &N.E 2d wk July
12,053
8,085
429,167
334,269
Vlcksb. & Mer. 2d wk July
5.896
7,028
231,524
254,445
VlckB. 8h. & P 2d wk July
6,512
6,162
247,023
250,917
dwk July 119,764 108,107 3,544,155 3,280,689
ErlauKcr 8y8t
Oln.KicU.AFt, W. '2d wk July
6,206
7,600
211,091
207,(37
Cln. 8(1. & Mob.. June
7,383
7,174
49,. 91
46,225
Cin. & SpriUK'd IJuiie
96,293
98,432
548.987
539,852
Otn.\VaBli..VKalI. 2d wk July
34.140
37,582 1,062,630 1,081.532
Olev.Akron ACol -d wk July
11,153
9,880
320,573
287,604
Clev. & Ouiitou June
34,253
30,141
184,450
172.503
Clev.Col.t'.A: Ind June
318,194 329,956 1,920,861 1,964,532
"Whole flvstem Juno
612,451 625,539 3,500,710 3,530,868
Clev. & Rlariettii 2il wk July
5,.57i;
4,730
141,551
157,339
Color. Midland.. 2d wk July
25,523
661,197
Col. & (Jin. Mid 3d wk July
6,: 07
5,868
176,272
164,573
Ool.Hock.V.*T. 3d wk July
73,897
53,740 1,513,857 1,431,868
Denv. & Rio Ur 3d wk July 165,(100 151,000 4,004,234 4,0117,287
Denv. & K. <i.
:)dwk July
24,375
24,225
655,275
531,122
Den. Tex.vtGulf 'Juno
3if,231
157,553
Det-BayC.AAliKJlstwk July
10.254
9.837
243,715
228,546
I>et.I/an8'K*tNo.l3d wk July
20,410
19,535
506,478
602,006
DuiulhS.S.&Atl.UstwkJuiic
32.133
39,421
448,195
401,760
E.Tenn. Va.,V(ia. 2d wk July
97,299 103,626 2,839,440 2,575,811
Kvana.dz Ind'plis 3d wk July
5.370
3,89(1
118,463
120,333
EvauHV. 6i T. il 3d w k July
17,085
18,631
436,401
448,628
Flint A P. Marq.l2d wk July
44,670
49,303 1,310,368 1,370,319
Fla. K.&Nav.t'o. 2(1 wk July
16.119
16,818
577,831
569,749
Ft.W.Ji Deii.Clt,\ IntwkJuly
l!t,203
15.587
4.52,586
3C5.817
GoorKla Pacitto 2d wk Jidy
4,600
22,118
651,138
562.868
Or. Kjti>. & hid... ^d wk Jul.y
46,588
48,032 1,152,560 1,170,168
Other linos
i.d wk July
3.597
2,887
10 ,900
76,367
Grand Trunk
Wk J uly 14 366.094 393,911 9,015,835 9.781,977
"
GuU Col.A e.Fi- M.y
224.105 155,395
975.019
89.1,240
Hou8.(kTex.Cei. ;d wk July
36,848
49,834 1,0-2,757 1,128,997
Huniest'uASlici funo
13,300
11,587
70,9081
69,84!t
IU.Cen. (Ill.ASo luno
873,815 877,015 5,415,(182 5,304,107
Cedar F.iStMui. June
8,643
9.095
42,949
58,699
Duli.AHUiux C. Juno
69,341
e.'i.lOS
382,078
377,108
la. Falls A 8. (;. June
57,303
52,319
371.651
303,200
Ind. Uec. A- West June
26,274
29,799
1.56,866
195,3 '3
Ind. A 8t. [.louis 2dwkJulv
30,893
38,337
889,000 1,026.598
KanawhaA Ohio 2d wk Julvi
4,113
3,973
137,717
80.465
K.C.Ft.8.AMcm.
wk July' 67.690
76,857 2,140,747 2,4 '8,393
Kan.C. CI.ABn 2dwkJuli
3,426
3,487
132,658
129 218
Atlanta
85,088
.
.
—
.
'
!
W
.
-,
1
. .
.
i
.
.
.
M
...
WkJuly 7
3d wk July
3d wk July
June
June
Nash. Ch.ASt.L. June .....
Natchez Jac. AC June
Mil.USh.AWest
Milwaukee A No.
Minneap.ASt.L.
Mobile A Ohio
New Bruiiawk'k, May
2,81)6.210
W
1,2.^8,968 1,553,719
163,311
AHegheny Val. 'May
Atch. T. &S. Fe. May
1887.
...
2,282,194
N.Y.PeuuAObio May
I
1888.
July
wk July
3d wk July
3d wk July
N.Y.ANewEuK.
Bo ASS.
wk
June
June
N.Y. Con. AH.R. Juno
June
N.Y. L. E. A
RAILROAD EARNINGS.
Reported.
wk July
545,666
424,439
13,356
38,997
49,620
113,639
104,600
50,074
551,260
361,138
69.812
9,849
31,485
32,699
452,154
515,100
241,000
M.iy
N.Y. A Northern 3d wk July
3d wk July
N.Y. Ont.AW.
N.Y. Phila.AN'k April
N.Y. Sus.A W.. June
Norfolk A West 3d wk July
N'theastm (S.C.)
Northern Cent'l
Northern Pacitic
Ohio A Miss
Ohio River ....
Ohio Southern
Omaha A
St.
L.
May
June
3d wk July
2d wk JiUy
zd WkJuly
June
June
Oregon Imp. Co .May
Oreg.R.AN.(^o Juno
Orcg. Short Liue May
Pennsylvauia.
June..
.
A
A
Erie
May
Read'g. June
1.840,9>'5
Tot.bothCo'9.. June
1,990,413
3,831,398
Pitts.
A West'ru
;<d
wk July
P'rtRoyal&Aug. May
Pt.K'al&W.Car. May
Bich.AAUcgh'y. June
KAW.P.Tcr.CoHich. A Uanv. 2d wk July
Va. Mid. Div.. 2d wk July
C. C. A A. Div. 2d wk July
Col. A Gr. Div. 2d wk July
West. N. C. Div 2d wk July
W.O.AW.Div. 2d wk July
Ash. A Sp. Div. 2dwk July
Total all ... 2dwk July
Elch. A I'eters'g Juno ...
Rome W. A Og May
TI8t.L.Alt. AT.H 2d wk July
Branches
2d WkJuly
8t.L.Ark.ATex 3d wk July
St.L. ASaiiFran 3d wk July
.
.
8t.PaiilAUuluth
2dwk Juuo
8t.P.Min.AMau. Juno..
S.Ant.AAr.Pass. June ...
.
May ....
8eab"rd A Roan. May
Seattle L S.A E June ...
Scioto Valley
Shenandoah Vul June..
South Carollnifc
Bo. Pacilic
.
June
Total of
132,396
64,974
74,652
16,905
113,459
176,912
241,071
11,258
50,225
2,847,614
2,252,538
430.911
376,657
11,V92
34,035
41,877
106.281
76,049
37,313
554.404
291,977
81.100
1,121,6911
40.470
19,850
17,277
53,820
2,043.128
1,374,154
553,217
616,351
1,1W0,182
1,490.015
71.934
. .
,
,.
.
..
.
(Cal.) April
(Cal.) April......
Statenls.Rap.Ti June
Simimlt BraucU
SutroTuuuel
Texas A Pacitic
Tol.A.A.AN.M'h
ToL A Ohio Cent.
.
386.957
1.316,512
506,607
8,305,628
l,li^8,8.50
992,204
29K,349
27,9H6
815,492
2,586,484
884,429
1,856,383
1,662.024
496,^86
72M.970
1,150,965
1,4.54.280
76,025
321,067
285,754
16.622,633 10,725,725
12,846,611 12,498,582
1,991,696
1,940,409
866.781
175,961
659,036
2,611,545
298.760
2,900,143
8,451,004
1,876,038
200,121
206,764
187,174
2,0^6,414
2,777,281
949,000
27,858,198
764,301
161,384
616,701
2,108,648
247,872
3,081.593.
6,255,851
2,0i5,279
148,280
9,31
36,708
269,498
31,148
210.032
1,466,394
365,733
444,731
2,280.909
741,000
159,000
26,370,724
4,911,858
12.693
184.208
222,580
29,873
308,438 1.467.(021 1,466,818
10,154,498
1,775,912 9,157,594
~
7,646,046
1,605,762 6,0e'>.2U9
3,381,074 15.81b.o03 17.80O,.543
1,035,739
37,573 1,023,84
152,463
22,755
155,105
122.226
12,927
139,954
281,061
57,392
280,918
85,915
34,000
15,050
7,600
13,850
2,600
1,310
160,325
23,443
261,617
30,893
14,322
47,047
105,756
29,105
765,124
95,457
51,710
49,941
15.871
77,000
63,950
81,450 2,389,328 2,140.299
812.949
900.943
30,450
452,1><4
408,371
14,725
258,495
6,500
306,270
357.111
3<8,326
13,975
53.645
56,873
2,600
26,051
52,632
1,825
151,525 4,486,556 4,0.^0.921
114,434
20,039
132,225
235.2.M 1,201,290 1,113,574
989,000 1,026,598
38,337
454,487
456.415
14,628
42,934 1,375,473 1,139.022
115,637 2,819.213 3,058.575
585,665
38,630
536,168
013,080 4,093.103 3,446,118
184,S66
3-,786
452,361
290,522
262,407
58,733
239,604
278,154
47,148
74,885
01,618
Juno
June
3d wk July
158,094
647,739
199,741
89,345
7,045
111,216
103,728
28,'273
134,721
301.958
160,235
76,559
3.263
100,419
107,8«7
20,408
87,376
9,487
389,562
593,703
395,523
632,155
470,536
527,960
2,195,560 1,101,21'2
578,125
804.697
•251.904
368,921
27,334
42,543
3,53,708
368.934
575,510
705,197
136,415
162,842
3,175,604 2,863,787
265,135
330,107
522,416
607,832
470,544
444,142
11,010,3 1 1 ,10.515.065
307,025
318,37
2,874,672 3.272,160
2,405,620 2,542,902
1,592,471 1,401,942
218,370
226,800
98,356
12,178
16,8'26
20,687
Tol. P.
14,048
16,540
Union Pacitic
May .. .". 2,312,191 2,188,278
Valley of Ohio.. June
64,251
59,268
..I
Wall. Western.
id wk July
109,817 137,415
Wab., E. of Mise May ..
5a3,914 548,670
West N.Y. A Pa 3d wk July
68,100
58,800
Western of Ala. Juno
29,271
35,090
615,3,J6
I West Jersey
May
114.346
127,79
W.V.Cen.APitts Juuo
290,710
28,062
62,636
Wheeling A L.K. Id WkJuly
473,833
13,914
14,918
Wil. Ool, A Aug .Mxy
349,538
57,119
47,604
oWl8(X)n8m Cen. 3d wk July
74,610
72,318 1.901,046
* Mexioaji ourrenoy.
I And branches.
3dwk July
3d WkJuly
AWost.. 2d wk July
.
.
.
.
Including Indianapolis
a All
120,33.5
3,880,.503
368,087 1,559,319 1,34'',270
316,158
373,307
73,281
332,149 2,147,989 1,646,996
70,742
42,736
23,215
480,0'20
117,436
559,836
914.167 4,683.182 3,857,184
3,007,184 2.381,002 13,651,454 10,251,024
3,864,297 3,295,169,18,334,638 14,108,209-
Arizona Div
April
New Mex. Div April
Bpar. Uu. A Col May
"II
160,795
82,112
174,261
1,044,340
304,255
69,923
363,527
10,644
108,765
857,113
. .
...
...
...
May
all
KR.—
No. Div.
So. Div.
827,224
3,126,259
373,815-
Co.—
Gal.Har.AS.A, May
Louis'a West.. May
Morgan's LAT. viay
N. Y. T. A Mex. May
Tex. AN. Orl.. -Vlay
Atlau'c system May
Pacilic system May
8o. Pac.
.
...
113,8'27
29,349
93,36^
364,679
Coal A Iron Co. June
364,091
161,480
100,553
198,566
1,032,331
607.6171 4,653,678
12,925j
353,509
321,156' 1,414..565
16,9381
479,147
296,290 8.511,73
46,951 1,135,5421
26,444| 1,213,499,
58,6221
525,425
6,596
40,091
5,080,400
10,787
37,291
.-
PeoriaDec.AEv. IstwkJuly
Juno
Petersburg
Phlla.
Phila.
87,765
5,4-3
3.281
34,369
37,848
21,800
A St,
469.803
157,509
395,272
304,807
1,854,628-
Louis.
lines included.
—
tiross Earnings to Latest Dates. The latest railroad earnings and the totals from Jan. 1 to latest date are given below
tor all the railroad companies whose reports can be obtained.
For the third week of July the comparison with last year
is much better than in the week preceding, the
increase
reaching 7^31 percent.
THR (IHRONiOLF.
J0I.T 2i. 1888. J
1888.
wetk of July.
'3(1
& Pittsburg.
Rod).
BiifTnlo
A
Cairo VIn.
CiiiiiiiMiui I'liclllo
Chlcii.:.!
Atliuitlo
riiliaxii
Kaat. Ilia
Cliliufo .* Inil. roiU
A
A
riilcairo Mil. .VSt. I'nul...
ClilciiK-i>
MIcU
Wi.st
.Vi
Ool. ACiii. Mlillaml
Col. 11. Val A-TiiliMlo ....
(intnito
A-. Kl<)
Dciivi>r .t li. 1 raiiilo West.
DeiiViT
1
I.aii9. >t North....
Kvhii.hvIIIk &, liiiliaiiitii...
Detroit
Kvali.HvUli'
Krii'it
A
A
A
24.225
20,110
5,370
111.535
3,8!K)
18,«:il
150
876
Total (38 roads)
Wet Increase (73t p.
o)
Blohm.
A Petersburg. Gross.
Isl.
7,800
Eoads.
"i'.270
2.061
37,.573
2,897
4,113
74,010
2,058,725
2,757,165
4,962
28,551
264.912
201.560
.
1888.
week of July.
Prev'lyreport'd (48 roads)
Cincinnati Jaek. A Mack.
Cln. N. O. A Te.\a.'» Pao...
Alabama tit. Southern..
New Orleans A N. E
VIcksliiirK' A Meridian..
VlckshurK Shrov. A Pao.
W
Cln. Rich. AF.
Cln. Wash. A. Bait
Cleveland Akron A Col...
Cleveland A Marietta
Ool.
A
Cln. Midland
3,125.707
8,376
71,557
23,746
1^,033
5,800
0.512
6,200
3t.li0
11,153
h.T^
6,170
East Teun. Va. A Ga
FltntAPero Marquette..
Florida Ry. A Nav
Goorgia Pacltlo
Grand
97.2'J!t
A Mem ..
A Spr ....
41,670
16,119
24,600
46,5^8
3,597
366 094
36,848
4,113
67.690
3,426
Hock A Memphis...
5,08:!
9.-i87
Kaiilils
A Indiana..
Other lines
Grand Trunk of Canada..
Houston A Texas Cent...
Kanawha A Ohio
Kansas
Kansas
C. Ft. 8.
('.
CUn.
Keokuk A Wcst<>ru
Little
Memphis A Charleston. ..
26,712
9,849
30,893
14,322
14,048
Ohio RlTcr
*8t.L.Alt.AT. II..M.L....
St. L. Alt. A T. U. Brehs..
Tol. Peoria
Western
A
1887.
Increase.
$
$
3,035,221
8,984
61,802
24,940
8,085
7,028
6,163
7,600
37,582
9,880
4,730
0,344
103,026
49.303
16,818
22.118
48.032
2,887
393,911
49,834
3,973
76,857
3.487
5.483
12.925
29,319
9,317
38.337
14,628
10,540
205,57d
Jvlti 1 to
114,000
Total (77 roads)
>
4,138,526
A West. Gross.
A
St.
less
proportion due
roads opcr. on a % basis..
Decrease.
87,081
— Dec. 1
June.-
to
June 30.-%
1887-8.
1886-7.
S
9
$
Gross. 1,840,995
Not..
,
1887.
9
$
1,77S912 10,873,2.50 11,731,212
946,020
927,499
Gross. 1,990,413 l,605,7f 2
ANNUAL REPORTS.
115,090
608
Wisconsin Central Railroad.
CFor the year ending December 31,
1,194
"i",i32
350
1,394
3,442
i,273
842
174
6,327
4,633
699
2,482
1,444
710
27,817
12,980
140
9,107
61
400
3,438
2,037
532
7,-i44
306
2,492
225,538
22.653
202,885
CALENDAR TEAH.
-Jan. 1
1888.
to
$
A Pot'mao.Qross.
1886-7.
4,656,922 5,855,273
8,232,631 8,988.571
263,493
Not..
91,232
83,233 def. 44,003
Total Both Co's... .Gross. 3.831,398 3,381,674 19,105,881 20,719.783
1,012,732
0,118,764
Net... 1,037,852
4,612,919
June
30.—.
1887.
$
133.869 122,797
745,431
701,391
43,002
44,293
226,119
236,017
CenC of Now Jersey. Gross 1,074,180 988,157 5,756,047 5,281,480
Net.. 491,379 455,635 2,440,760 2,297,901
Cleveland A Canton.. Gross.
34,2.53
30,141
172.503
184,450
Net...
11,893
9,251
56,3;!l
39,788
Cleve. Col. Cln. A Ind. Gross.
612,451 625..539 3,1500,710 3,530,808
Net...
174,723 207,206
806,912 1,063.975
Lch. A Wilkesl). Coal. Gross.
692,806 607,617 4,653,678 3,880.503
Net..
122,051
39,217
813,285
451,480
N.Y. Lake E. A West. Gross. 2,282.194 2,252,538 12,846,611 12,498,58
Net.. 812,125 788,210 4,437,4-14 4,303,023
Baltlm'ro
June 30.-%
602,275 5,201,561 5,223,515
228,170 2,129.122 1,866.404
55,167
518,987
197,176
1888.
—
"Roads.
1 to
ricl.
1887-8.
9
610,984
Roads.
•3,968
4,115,373
-June.1888.
1887.
368.518
83,998
Net
Net..
Louis.
AJTD
S
385,912
124,675
2,282,101 2,252,538 20,019,665 19,386,226
Net...
812,125 788,240 6,957,811 6,891,015
63,352
Net Earnings .Vouthly to Latest Dates. The tables following show tlie latest net earnings reported this week, the
returns for each road being published here as soon as received,
but not kept standing from week to week. The first statement includes all roads for the latest month and from January 1, 1886; following that we give the totals for the fiscal
year on those companies whose fiscal year does not correspond
with the calendar year.
MONTH
1886-7.
$
30,141
9,251
9
June 30.-%
9,665
p. e.)
Including Indianapolis
1887-8.
$
$
31,253
11,893
Net...
1887.^
trustees in possession of this property, Messrs. John A.
Stewart and Edwin H. Abbot, have made their report for 1887,
The management of the road has not been changed by the
Wisconsin Central Company's combination, and the trustees
ytt remain in posstssion, though the Wisconsin Central Company has acquired and owns more than seven-eightha of the
stock and a large majority of the bonds.
Of the condition of the road-bed and rails, the report siys :
" Most of the Wisconsin Central Railroad is nowr over fifteen
years old, and it was absolutely necessary to rehuild in 1887 a
large part of it. The old iron rails were worn out, and becom-
The
ing unsafe, and were replaced with new sixty-pound steel
rails.
There remains now in the track about sixty miles of
old rails. For this you have already ordered new steel, and
"
the whole will be laid during the summer of 1888
The earnings, expenses and rentals of the Wisconsin Central Railroad (not Company) ana all hues operated by the
trustees during the past four years were as follows
:
1885.
1884.
Wet increase I055
1887.
1888.
June.1887.
1889.
The final statement for the second week of July shows little PhUa. A Reading
charge from the results previously given, and the aggregate
CoalAIronCo
for lbfc8 differs only slightly from that for last year.
2rf
May 31—%
HOKTII AND FISCAL TEAB.
-June.
1888.
1887.
24 1 ,000
WcstN.Y. A Penn.. .Gross. 272,591
2,2.')2
62,338
-Jan. 1 to
*
Roads.
27,598
157,.509
156,931
777,76«
201,285
741,000
147,000
9,881
'"9,300
1,004
1,235,542
290.710
109,295
e
Oregon Short Line. ..Gross.
Net..
N. Y. Lake E.
,398,382
361,281
756,412
240,832
919,000
362,000
Net..
10,080
2,691
3,861
353,708
83,1/5
$
157,968
47,393
Road.
Cleveland A Canton. Gross.
69,1.59
388,-34
74,302
151,443
46,011
130,000
39,000
Not..
74,6.'i2
16,905
11,292
34,035
76,010
291,977
100,419
34,277
228,170
55,167
2a,OR2
11,350
-Xay.1887.
1888.
Lake Erie A Western. Gross.
1,899
1887.
).
n
111,210
46,136
272,501
87,681
62,636
23,214
1,640
"s'.giis
18
1,000,113 1,605,762 0,059,2
7,0l(T,O4«
91,232
85,233
2,20.j
28.5,143
3,831,398 3,381,674 15,810,803 1 7,<!00,.'.43
1,037,852 l,0lV,73a 3,865,401 5,17^,120
23,443
20,039
132,225
114,434
8,726
8,290
61,275
54,330
1,480
2r,.4 14
87,376
9,487
16.826
137.415
58,800
13,914
72,318
Wlaconsiu Central
Iron.. .Gross.
Rapid Tr.. Gross.
Net..
West. K. Y. <& Fenn.. Gross.
Net..
W. Va. Cent & Pitts. Gross.
Not..
230
o;t.30«
9-1,356
14,l>18
A
Net...
Staten
20,1.57
391
42.931
Krio....
A
Not...
1,630
25,694
1,562
3,073
9,936
ll.i,637
WnlmHh Western
Western N. Y. A Penn
P.
f—Jilr. 1 loJMn* 30.-^
a
6
Net..
5.783
"2,950
3,281
47,0-17
12.178
20.687
109,817
68,100
Jimf.
1887.
.
Roads.
R. Coal
Total Both Go's. ...Gross.
2,856
25,000
37.84P
296.290
40.051
103,756
Tole<lo A. A. A No. Mich..
Toleilo A Ohio Central....
A L«ke
21.37.
13.H">t!
I'aoitle
Wheelliin
14,000
38.0H7
104.600
361,136
40.470
Western
Pltt-sliiux
Texas...
St. LoiiU Ark.
Han Fran
Bt. IajuIs
Tcxna
i5:.(M)i!
45,0.')'.;
I'aeltlo
A
16.1 .(KM)
30.412
101,177
6S.001
18.175
.(;
17,8-13
46.880
9.800
458,000
27.608
6,107
73.897
30H,225
Mtlwaukoo A Northern...
New York Northern
Now York Diit. A West...
Norfolk A Western
8,243
1,781
20.4K3
237.000
42,324
43.030
8.170
432.306
26.136
5.808
53,740
3,072
40,021
Wcstuni
I.iMiisvilr.VNa-hvllle....
LiHiisi il!.. N. All>. * Chlo.
lAHiisMllo N. O A Texiia.
Miixlcan Ceutrftl
MUwaiilt™ I,. 8h. A West.
Northi in
S
41,732
l7,(Hr)
T. II
.V
KliiKHioiiA IVmliroke...
Lake
»
36.541
Deereatt,
1888.
38,481)
16,002
32.318
262.000
Chlo.
Oilifin-nlii SoiitlH"rn
lnenat«.
1887.
107
$435,746
016,283
32,666
18,578
15,000
10,240
Passengers
Freight
Mails
Express
Sleeping car
Miscellaneous
$380,896
986,258
46,016
16,925
18,000 >
12,249 J
1886.
$-103,082
1,012,369
1887.
$511,388
35,471
20,920
93,461
1,338,246
3«,054
27,471
5 26,453
X 20,679
Total gross earnings.. $1,429,075
937,745
Lees oper'g expenses.
$1,461,004
941,881
$471,330
$519,123
$383,233
$540,701
319,050
327,536
386,559
473,843
Netoarnlngs
Ben tals, car service, license fee and taxes..
$1,565,313 $2,050,290
1,182,080
1,509,389
$191,586 def.$3,326
$66,859
The interest on bonded debt "paid or set aside" was |330,511
in 1886 and $236,773 in 1887. The expenditures for construction were $50,918 in 1886 and $268,481 in 1887, and for equipment $14,639 in 1886 and $5,355 in 1887; a total of $65,557 in
1886 and $273,836 in 1887. The land sales were 44,593 acres
for $89,768 and the total .sales to date were:
$624,453
222,409 .acres laud
113.717
2.473 town lots and 28 blocks
909,209
600,597 Mpine stumpago
$151,679
Balance
$1,647,469
face value ot outstanding land oontracts January
1888, excluslvo of interest due and aoomed, was
The
1,
$122,953
>
Net
less
proportion due
roads opcr. on a "t, basis..
Norfolk & Western... Gross.
Net..
Northern Central
Pennsylvania
Gross.
Not...
Gross.
Petersburg
Gross.
610,984 602,275 3,331,850 3,251,346
370,764 334,200 2,323,975 1,879.784
134,563 123,272
902,095
729,679
551,260 554,404 2,900,143 3, 081, .503
199,830 209,519
1,254,836
899,020
5.080,400 4,911.858 27,858,198 20,370,724
Not.. 1,571.639 1,561,-159
37,291
29.873
14,537
12,467
Net..
Phlla.
A Reading
Gross. 1,840,985 1,775,012
Net...
946,620 927,499
8,692,758
8,784,383
222,580
184.208
87,620
87,031
9.157,594 10,15.1.498
3,803,291 5,186,980
GENERAL INVESTMENT NEWS.
&
St. Lonls.— The earnings for the year
1888, were, gross, $287,513; net, $119,163—
surplus ov«-r interest charge, $44,163. This road forms part of
the Jacksonville Southeastern system, and a glance at the
map in the Investors' Supplement will indicate tt e importSt. Louis to the JackBonville
ance of the Chicago Peoria
line.
The prospects for busint'ss for the current fiscal year
Cliicacro
Peoria
ending February
1,
&
are said to be better than last year the wheat and corn yield
will be large. Wheat is already moving.
;
—
—
THE CHRONICLE.
108
[Vol.
XLMI,
will,
Chicago Kansas & [ ducing compensation, yet there is a probability that it
Chicago Rock Island & Paciflc.-The
and
therefore a preliminary injunction is appropriate until
Bystem
Inland
Rock
of
the
Nebraskl Road, which is a part
inquiry.
point fif^en miles there can he a full and final
bM l^stbeen completed toG.odland.a
In reference to the publication of notice and the going into
made
been
baa
progress
R^pid
from the Colorado State line.
he holds thit whatever might be the
J"!,^^* effect of the schedule,
on this extension, and the work will be P^^he^
tne case as to other railrond companies, the four companies who
complete
to
order
in
westward
viKorously from Goodland
winter sets in. have corresponded with the Boird have a ri^hc to insist that
construction that h. 8 been mapped out ''ef ore
by the middle no public'itlon was complete and no schedule was in force at
reached
be
will
Bend
River
that
It i- expected
seventy- live the time the restraining order was served; hence this comwithin
be
then
will
line
and
the
of September,
and a preliminary
will be made plainant is not too late with its application,
junction
Bend
a
Rivfr
At
Denver.
miles of
arrangement injunction is ordered. Meanwhile the taking of testimony
an
be
that
may
and
it
Pacific,
U.;ion
-with the
Nebraska traii-s continues at Des Moines.
will be made whereby the Chicago Kansas &
It no
tracks.
Iron and Steel Production. —The following staHstifs for
will run into Denver over the Union Pacific
will buiW
such arrangement can be effected, the Rock Island construc- the first half of 1888 are given by The Bulletin of the American Iron and Steel Association:
an independent line to Denver, and in any event the
and will in
The total p' eduction of pig iron in the United States in the
tion of the line to Colorado Springs will proceed,
meantimo
the
In
first six months of 1888 amounted to 3,382 .503 net tons of
all probability be competed by December 1.
is
Kan.,
Caldwell,
3,000 pounds, or 3,020,093 gross tons of 2 240 p mnds. Out
the important exten-iion of this road below
being pushed as rapidly as possible. It will extend through production in the last six months of 18S7 was 3,771,996 net
far
as
made
been
The production in tlie first half
tons, or 3,376,853 gross tons.
Indian Territory, and tlie survey has already
or 1888 was 317,761 gross tons less than in the second half of
as Fort Sill.— C/Kca.</o Times.
1887, but it was only 39,203 gross tons less than in the first half
Cincinnati Sandusky & Cleveland— Columbus Springd.vidends ot of 1887 The production in the last five years has been as
field & Cincinnati.— The directors have declared
of the fol otvs in both net and gross tons:
5 per cent, or ^2 50 per share, on the stocks of each
Ornss lorn.
Net tons.
Prod iiel ion.
above-named roads out of the judgmentof |359,146 67 received First
2,954,209
2,037,087
lialf of 1886
from the Indian* Bloomington & Western, which calls for Last half of 1886
3,411.119
8,015,642
dl7
$160,000 out of the Sindusky's four-fif hs, l«*ving |137
The dividends are piyable Aug. 6 to
for improvements.
stockholders of rtcord July 28.
Cleveland Columbns Cincinnati
Indianapolis.—The
&
following statement shows th^ earnines, expenses, charges,
Ac. (including the Cincinnati & Springfield and lodiaDapolia
St. Louis), for the month of June, and for six months
Jan. 1 June to 30.
-Jttne.-
6
First hair of 1887
Lasthalf of 1887
First halt of 1888
3.415,210
3,771,990
3,3-2.503
3,04i>,205
3,367.8.53
1,806,792
1,811,584
3,020,092
in the first half of 18S8 was wholly
in Bes.-emer pig iron, as the following figurts will show:
Laul half nf 87. First half of HB.
ar «« Ions.
3,367,853
3,020,092
Total production
1,561,061
1,178,508
Bessemer pig iron
Our decreased production
.
Gross earnings
Operating expenses.
Nctearnings
Interest, taxes, &0...
1888.
1887.
$612,451
437,728
$025,539
418,333
$174,723
157,500
$207,206
173,850
$17,223
28,740
Balance
Additions to prop'tj".
Balance
1888.
$3,S00,710
2,633,798
1887.
$3,5.'?0,868
2,400,894
$806,912 $1,063,974
949,429
1,031,452
$33,3,50 def.$-2,517
12,392
121,415
$32,522
409,234
aef.$ll,517 eiu:.$20,764 dt.$203,932 df.$376,712
Foundry and
mill pig iron
These figures show that the production of foundry and mill
pig iron in the first half of this year was sUuhtly in excess of
ttat of the last halt of 18b7, But the decrease in Bessemer
pig iron was very great.
All the important Northern and Western pig iron producing
Sta'es show a decreased production of pig iron in the first half
of thii year as compared with the first hilf of last year, except
Ohio, whose production in the last six months was the highest
lOTra Railroad Rates.— At Leavenworth, Kan., July 26, a'taineii in the history of the S'ate in a similar period of time,
wds
rendered
in
Jurtge
Brewer
the
injunction
of
Theprodu.tionof pig iron by the nine Southern States of Alathe decision
case of the Iowa Railroads vs. the Railroad Commis.-'ioners of bama, Tennessee, Virginia, West Virginia, Kentucky, Georgia,
the State of Iowa. The suit was commenced by the railroad^ Miry land. Texas and North Carolina, in the first half of 1888,
to procure an injunction against a schedule of rates adopted was 433,796 gross tons, against 482,330 gross tons in the last
by the Iowa Commiasioners. The decision says: The fir^t half of 1887.
question considered was this, whether a suit against the RailThe sto tks of pig iron which were unsold in the hands of
road Commissioners to enjoin them from putting in force a manufacturers or their agents on the 30th of June last, and
schedule of rates was a Euit against the S ate within the pur- which were not intended for the consumption of the manuview of the Eleventh Amendment, and, therefore, one of facturers, amounted to 358.273 gross tons, against 301,913 gross
which the Federal court could not take jurisdiction. Chief ions on the 31st of Dicemb.r last, an incre-isa of 56,360 gross
Justice Marshall has ruled that unle.-s the State was named as tons in six months.
a party it was not a suit against the State, but the Supreme
The production of Bessemer steel ingots in the United States
Court, in volume 123, United States Supreme Court Reports, in the first half of 1888. including 36,070 n»t tons of Ciappcase of J. N. Rog rs, has adopted a more liberal view, and Grifflths ingots, was 1,384,288 net tons, or 1,235,971 gross tons,
holds that if, although not named in the record, the State be agMins-t 1,650,785 net tons, or 1,473,915 gross tons, in the last
the real party in interest, the one against whom the judgment half of 1887, a decrease of 237,944 groes tons.
vill operate, it is to be ronsidercd as a suit against the State.
The production of Bessemer st-^^l rails in the first half of
App'ying the rule', Jud^e Brewer holds that the State is 18'?8 was 775,381 net tons, or 693,197 gross tons, against
not a party to ihis suit; that is, not the real party in interest, 1,146,117 net tons, or 1 023,3'20 gross tons, in the last half of
the one to be affected by the judgment, and upon whom it 1887, showing a decrease of 831,123 grrss tons. Tnese figures
will operate, the real parties beiug the railroid companies on do not include a few thousand tons of Bessemer steel rails
the tne side and the shippers on the other, and that the Sca'e rolled in each period in iron rolling mills from purchased
has only that remote interest which springs from the general b'ooms. The production of Bessemer steel rails in the first
welfare of the people.
h»lf of 1888 was reduced munh mi.re than that of ingots, inThe next question considered was thi» " Can the Legisla- dicating an increased use of B-'Ssemer steel thus far this year
ture delegate power to fix rates to a railroad commission, no f ir miscellaneou'i purposes
of nearly 100,000 gross tons ovet
such commisfion being recognized by the constitutiorj ? The the last half of 1867.
Supreme Court has held that th.- power to fix rates is a leiiisLehigh Valley- Central of New Jersey.— The recent sale
lative power, and it is generally true that the Legislature
cannot delegate its powers to another body. Notwithstanding of quite a large block of Jeisey Central stock by oflioials of
tlie
this. Judge Brewer declined to hold that the delegation is
Lehigh Valley Road has no special significance. This
unconstitutional for several reasons, the principal ones being stock was acquired in the spring of 1887 and thera was no
these: An act will not be declared unconsthutional unless longer any object in holdiiij; it. Mr. J. Rogers Maxwell,
clearly eo. There is no inherent vice in delegating tuch President of the Central Railroad of New Jersey, is reported
power to a commission, the vital question bemg by the I'ribune as saying: "The Lehigh V.,lley has beea trywifi both carrier and shipper that the rates
ing for many years to secure proper terminal facilities in New
prescribed be fair and reasonable and not by what bjdy Yurk harbor. Ic had an interest in the West I/ioe grant just
they shall be put in force. It is a que-tion for the final deter- iionh of the Jersey Central's properly at Communipaw, but
rnination of the Supreme Court of the State, and
therefore it was unable to use it on account of the long litigation about
the Federal courts should not anticipate its decision.
The the question of ownership between the two compinies. After
Cou'ts of sister States have sustained similar ('elegations of the L-^high Valley joined in s curing coatiol of the Jersey
power, and therefore there is a probability that this will
be Central, the quarrel was settled, and at tfie sami time a consustained by the Supreme Court of Iowa.
tract was made with the Jersey Central to run trains over its
The third principal question is whether the Legislature has tracks on the completion of its Roselle connection, Wnen
unlimited power
the. matter of fixing rates, either
bv its the union station at Communipaw if finished, the Lehigh Valown action or through the agency of the Riilroad Commisley will leave the Pennsylvania station and run its trains into
sion, and this question is answered in the
negative. Jurtee the new one."
Brewer holiis that the Legislature cannot fix rates so
Lehigh & Wllkesbarre Coal Company.— The gross and
low aa
not ti furnish some cimpensation to the r.-iilroad
compaav net earijings for June and for six mouths were as follows :
and compensation to the owners implies revenues suffl
-lent to
-June
-Firi-t Six Monihsmeet, first, the coat of service; second, the fixed
1883.
1887.
1887.
charges bv
188S.
way of inte.est; aad, third, something, however small
Grosseamings
$''92,»06
$007,010
$4,0.53,078
$3,«S0..503
in the Operating expenses....
:
'
m
way
of dividends.
Hefurherhol
that wbil-^ from the volume of Ihe
test!
inonv offered upon this application it is not cleirly
established
that the schedu'e proffered by the defendants will
fell of pros
Not earnings
Inter, on funded debt
Surplus
570,755
568,400
3,810,393
3,429,023
$122,050
.$39,210
$813,285
345.298
$451,479
340,020
$467,980
$105,459
,
—
JCLT
THE CH80NICLK.
88, 1S88.]
Lony Island. —The directors of thn Linn Ixland Railrond
Company have voted to issun f .000,000 worth of bonds to hiiild
Mcpovts ana Hocumcttts.
1
the j-xt«>n8ion to Oyster Buy. ThB bonds will hi allotted on
July 27.
A nieetiPK of the stockholders of the company
Toted unanimou)^ly tiint the iwuo of (S.OW.OOO 4 per cent
Iwnds be auihorj/.^d for the improvenjpnt of terminal facilities, the constructicm of a iie«r branch to Oyster B^y and the
purchase of
new
WESTERN NEW YORK & PENNSYLVANIA.
MORfGAOE ON THE WE.STERN NEW YORK
& PENNSYLVANIA RAILROAD 8ECURINO GOLD
BONDS DUE JANUARY 1, 1937.
FIR.'iT
rollin)< Btoclc.
liOnlSTlIIe & Nashville— This company has declared a
scrip dividend of 3 per cent, payable Sept. 3, mnkinx 5 per cent
for the lat« fiscal year. The preliminary report for the year
ending Juno 30 (J'une, 1888, being estimated), is as foUown:
lS-,7-8.
Oross onmlnRS
Opcriit ill V
sflfi
lMs(i914.97^1, flU2
;i71,U9
l().27ii,790
i'.xiM'n.icfl
I'crcciit of op. exp. to cni'iiluga
-
8,P,'J.'i,.'J02
(.59-77)
(fi2'7!>)
Ntt fnniliigs
OtUcr iiiiomo
-
-
"lii«,09l7«.'>:i
>as..'i2f>
if«,(}2<i,-l90
Iiili,ti2().177
ffl.riOii.n-M
f4,4O4.100
$4,2H(i,r,>j:j
3r,:t.5i 1
47!l.sr.8
.'
Total
Fixed clmrges. Interest and rental...
Taxes
375. IU1
$l,77!l,7H
fl,840,137
Total charges
Balance
Leas 2 iMT cent
stoelt dividend declared Jan. 9. 1888
Less 3 per cent stock dividend declared July 26, 1888
fl, ^50,2.51
$000,000
$322,4.37
.,
Monlgomery & Florida— Northwest & Florida.— A declar-
ation for the incorporation of th^ Niirthwett & Florida Riilrcad, formtrly the Montgomery & Florida, has been filed in
the office of the Secretary of State at Montgomery, Ala., by
David A. Boody, Nathan F. Sprague, Stewart L, Woodford of
New York, and A. M. Baldwin, William A. Gayle, James
Farley and M. L. Moeea of Montgomery. The capital st Jck is
at |1, 800,000.
The M.
F. was sold at foreclosure in
Slaced
uly; a new 50-year mortgage at |12,000 a mile will be issued.
&
—
Pennsylvania Ponghkcepsie & Boston. A contrant has
been signed beiwcen thi-* C(imp;iny and the L^htnh & Hudson
River, and the New York Ontario & Western, giving the last two
named companies the right of way over the Pennsylvania
Poughkeepsie & Boston road to the Poughkeeps'e bridge, Tli«
connection will be at Campbell Hall and will be completed by
the time the bridge (with its approachee-) is ready about
December 1. The Lehigh & Hudson River road some time ago
—
passed to the control of the Central Riilroad of New Jersey
and the Lehigh Coal & Navigation Company.! Ttie Pennsylvania Poughkeepsie & Boston and the Hartford Connecticut dc
Western are controlled by the same parties, and plans are
about matured v^hich will give these compan es connections
with the Poughkeepsie I ridge on the east side of the river.
—
Pennsylvania Railroad. The gross and net earnings for
June, 1887 and 1888, were as below stated. On the lines
west of Pittsburg & Erie the net results, after payment ot
interest and all charges, is shown in the second t ible.
LINES EAST OF PITTSBUKO & ERIE.
,—
-Ornsa Harninscs.Ifet Earnings
1888.
1887.
1883.
1887.
$4,193,979
$3,8.51,771 $1,005,920 $l,214.3.=il
4,.379.45.5
1.358,283
3,988,788
1,380,157
4,52G,.')(U
1.490.<il3
4,410,433
1,435,941
4.0.5",045
4,342,834
1,552,619
1,3.50,883
5,027,759
4,8(i."),()40
1,713,785
1,841,502
5,030,400
4,911,858
1,571,539
1,501,459
—
January
February
March
April
May
June
TotalGmos
January
Felmiary
March
Auril
Jtoy
June
$27,858,109 $20,70,718 $8,092,759 $3,784,383
LINES WEST OF I'lTTSBllKG * ERIE.
yet surptui or JeficU a/ter payment of charges.
1888.
1887.
Biff, in 1888.
8ur.$G0,510
Loss. $94,441
Sur. $154,951
Def.l23,5ig
Sur.
3.475
Loss. 12(>,9it4
Def. 90,276
Sur.
Loss. 302,978
212,702
Sur. 49.(i82
Loss.
23,420
Sur.
73,102
fur. 13,725
Gain. 203..507
Def.
189,782
Der.130,012
Gain.
Det.
153,600
23,654
mos
Total
Def.210,ilOO
Sur. $100,782
Loss.!ii3:O.G-i2
Philadelphia & Reading. The gross and net earnings for
June, and for seven mouths of the fiscal years 1886-7 and
1887-8 have been as below given.
The net earnings of both
companirs aggregated $1,037,852 in June, 1888, against
—
$1,012,733 in June, 1887
for eeven months of 1837-8
were |4,013,9l9,, against |6,118,764 in 1836-7:
;
RAILROAD
CO,
June.
1888.
— Dee.
they
1 to
June
SO.-
1886-87.
Gross eamlnirs
$1,840,985 $1,775,»11 $10,873,210 $11,731,210
Operating
rating expenses...
894,365
848,412
6,210,o26
5,875.938
Net earnings
$946,620
$927,499 $1,656,914 $5,855,272
COAL & IRON CO.
.
1888.
Gross eamin)ra
$1,990,413
Operating eiiicnscs... 1,899,181
Net camlnga
$91,232
—
>
June.
1887.
$1,605,762
—Toe
1,
1887.
Western
New York &
of the first part, and the Mercantile Trust Company,
Tnistee, of the second part.
Property Covered.— The entire line of railroad of the Company extending from Buffalo, N. Y., to Emporium, Cameron
Co., Penn., with its Clermont branch, and from Buffalo via
Brocton to Oil City, from Rochester via Oloan and Salamanca
to Warren, from Irvineton to Oil City, and from Stoneboro to
New Castle, together with its interest in the line between
Warren and Irvineton and Oil City and Stoneboro, and its
narrow gauge branches between Kinzua, Bradford and Olean,
and between Bradford and Eldred, amounting altogether to
miles of constructed railroad.
including all lands, fixtures and rolling stock, now or
hereafter owned, for the purposes of the railroad, and all leases,
rights, franchises, profits, etc. Also $300,000 capital stock and
$1,0110.000 mortgage bonds, dated June 12, 1884, of the Union
Terminal RR. Company, and all right to use the property
of said Company, and all other corporate bonds ana stocks
now owned by the party of the first part. But subject to the
following liens.
" The said rolling stock and equipment and interests therein,
except such as may be purchased and paid for •ut of the proceeds of the first mortgage bonds, and all replacements and
substitutions therefor, and the said stock and bonds of the
L^nion Terminal Railroad Company, and all other stocks and
bonds, except the stocks and bonds of leased lines of railroad
being subject, however, to the prior lien of a second mortgage bearing even date herewith." [See below.] Provided,
however, that in case of the forec'osure of the said second
mortgage or of any other proceedings whereby the Trustees
or the bondholders thereunder shall acquire possession of
said property on which this mortgage has only a second lien,
the persons or corporation being the owners of, or under this
mortgage being in possession of, the property hereby mortgaged shall at all times have the right to use the said rolling
stock and equipment, and the property of the said Terminal
Company, without any let or hindrance, upon paying for such
use of the rolling stock and equipment a fair rental, and for
the use of the Terminal Company's property 3 per cent per
annum of its value as fixed by appraisement. 'The intention
being to secure to the second mortgage bondholders the first
O:!.!
on said rolling stock, etc., and to the first mortgage bondholders the second lien thereon; but so that the right to use
the same shall be held by those in possession of the road.
But the compensation so provided for shall be payable only
out of the residue of net earnings, after payment year by
year in full of the interest on all bonds issued and outstanding
under this mortgage; and if such residue shall be insufficient to pay in full for the use of said rolling stock
and equipment and terminal property, the same shall
be paid for pro rata, but without any liability to pay for such
use in any year more than the residue of net earnings shall
suffice to pay. For the security of the bondholders, each bond
and certificate of the said Terminal Railroad Company shall be
plainly stamped as follows: "Subject to the Western New
York
Pennsylvania RR. Company's First Mortgage to the
Mercantile Trust Company, and Second Mortgage to the Fidelity Insurance Trust and Safe Deposit Company."
And subject also as regards that part of the property formerly owned by the Warren & Franklin Railway Company, to
a mortgage dated December 1, 1865, securing $1,500,000 bonds,
of which $800,000 are now outstanding.
lien
&
THE BOND
Fir.1t Mortijago
Bate.— December 1, 1887.
Denoviinaii
5 per cunt Gold Bond.
m.— $1,000 cacli.
Amoim(A«(/ion«(/.— $10,000,000, ot which $1,500,000 shall be renot bi- issued ai-'Miiwt the
1> Itennents or a(l(iiti(in.s. and -iIihII
disseut of two iueuil)er8 "f the company's lioard of diicctois, and of
which $800,000 shall bo re.served to provide for the afore-meutloncd
Warren & Fninkjin lir.st moitKa),'c boncls.
Principal Payable.— T\\e principal is payable In United States cold
coin of the prc-ent standard of weight and llnencss, January 1, 193 r, in
New Yorl£ City.
Interest I'ayabl^.—Tbe Interest Is 5 per cent per annum, i>ayable Jan.
1 and July 1 in like (,'old coin, in said elty.
rain«io>i.— Principal and Interest are payable without deduction by
reason i<t any taxes which tlie Couii)any may be rcquirwl to pay or retain thcrefioni by any present or future law ot 2s'ew York or Pennsylvania, or of the United States.
Voupon or Kegittered —Bonds are coupon bonds with privilege of reBIstTjtion as to principal, provided all the coupons belouglug thereto are
,
,
Dec. 1 to
June 30.
.
1,520,52!!
1887-88.
$8,232,611
8,276,615
1880-87.
$8,988,560
8,725,078
$35,233
def. $-14,004
$263,491
Chicago. This company has, jointly with the
Mt. Olive Consolidaied Coal & Coke Company, authorized an
issue of one million 5 per cent forty-year bonds covering 3,000
attached
SinKxng Fund.—'So sinking fund
acres of coal lands. The Mt, Olive Company's capital »tock
($1,000,000) is held in the treasury of the Sr. Louis & Chicago
Railway CompHny. Triis road is to be extended at once from
Springfield, Id., north to Eurtka, 73 milep; at the latter place
it will connect with the Atchison line, having just completed
a contract with that c ^mpany for all its thr ngh bu-iness beEvanstween Chicago ard St. LduIp. The Peoria Decatur
vilie will also use the new line for a St. L:>aia conaect'ODi
six
St.
Louis
Jt
Pennsylvania RR.
Company
serred for
1887-88.
1887.
Partie.f.
And
ifil.51«.0<0
Sarphis
Drt<».— December
about
918.O00
109
&
pay
Is
providctl for.
—In case of default in the payment
of interest for
of principal when due, or in case of failure to
taxes, or to fulfill any of the stipulations contained in the
Default.
months or
mortgage, then the Trustee may, and upon the written re<iue8t
of holders of a majority in amount of the bonds shall, enter
upon and operate the property, applying the net income therefrom first to the payment of interest and then of the principal
of the outitanding bonds, if the net income be sufllcient and
the princi.ial be due as herein prov;(!ed4
$
THE CHRONICLE.
no
Or the Trustee may, and upon the written requestor holders
of a like amount of bonds shall, sell all the property hereby
mortgaged at public auction, applying the net proceeds to the
payment of principal and accrued interest on all the said
bonds without preference between principal and interest. Or
the Trustee may proceed by a suit in equitj; or at law for the
enforcement of any appropriate legal or equitable remedy it
being understood that the remedies hereinbefore granted are
intended to be exclusive of all other remedies allowed by law
and that no holders of any of the bonds and coupons shall
have the right to institute any suit hereunder without having
given notice in writing to the Trustee of the default and
having afforded it a reasonable opportunity to take action.
It is further agreed that upon default in the payment of
interest as aforesaid, or in case of entry upon the property, or
of any sale thereof as before mentioned, the whole principal
Bum of the outstanding bonds shall at the option of the
Trustee, or if the Trustee omit to declare the principal due, at
the option of the holders of the outstanding bonds, expressed
in writing, forthwith become due and payable but said majority holders may instruct the Trustee to waive the right to
declare the principal due or may annul a previous declara-
If said net
terest on the
income amounts to at least two-sixths of the inbonis issued hereunder, but not otherwise, un-
determine, it shall to the extent it will
the payment of interest; and the unpaid
residue shall be paid in scrip in the proportion mentioned in
'•
The Bond " above; the scrip may be described as follows
less the directors so
suffice be applied to
:
Second Mortgage Income
;
;
tion.
At any sale of the property the Trustee may purchase for
the bondholders at a reasonable price, if but a portion of the
premises be sold, or if the whole be sold, at a price not exceeding the total amount of outstanding bonds with the accrued
and bonds and coupons of this issue may be
interest thereon
turned in toward the payment of purchase money,
Truntees. The Trustee maybe removed, or in case of a
vacancy io the office a new Trustee may be appointed, by an
instrum-'nt in writing executed by a majority in interest of
the bondhoWers with the written absent of the Railroad (Company, or without such assent by the holders of 75 per cent of
the bonds and until any vacancy is filled as aforesaid, the
directors of the Company may appoint a Trustee for the time
being; and any Court of competent jurisdiction, upon written
request from a majority in interest of the bondholders, may
annul such an appointment by the directors of the company,
and may appoint the Trustee nominated by the majority.
;
—
;
SECOND MORTGAGE ON THE WESTERN NEW YORK
& PENNSYLVANIA RAILROAD SECURING GOLD
BONDS DUE OCTOBER 1, 1927.
Da^e.— December 1, 1887.
Parlies. — The Western New York & Pennsylvania Railroad
Company, of the first part, and the Fidelity Insurance Trust
and Safe Deposit Company of Pennsylvania, Trustee, of the
second part.
[Vol. XLVII.
Scrip.
Dale.being the amount due this day for Interest
Denomination.—
upon the second mortgage bonds of the Bailroad Company numbered
Principal Payahle.—Tho principal is payable twenty years from date
or at the option of the Company at any time prior thereto, iu New York
aty.
Interest Payable.— The interest is 5 per cent per annum, payable April 1
and October 1 inNew York City, on presentation of the certificate but no
Interest is due unlfss the same shall have been earned, it being provided
that only the residue of not income for the preceding half year, as determined by the directors of the Company, after the payment of interest
on the bonds, shall be applicable to the payment of iiiiereat on the scrip
;
certificates or debentures.
Ofuvtriiliitii y.— The scrip certificates are convertible at the option of
the holder iu sums of $1,000 into income debenturo-i, which, except that
they are for .ill, 000 each and have coupons, are precisely si uilar to the
scrip certificates, having the same Men, length of life, interest provision,
eta
The coupons surrendered in exchange for said certificates
shall be delivered to the Trustee, but not canceled; and coupons not so surrendered shall not draw interest. All the interest certificates and debentures so issued shall be paid in the
order of their respective dates, unless the property hereby
mortgaged is apulied to the payment of the bonds, in which
event all the outstanding debentures and certificates shall be
paid in full, pari passu with the outstanding bonds and overdue coupons, if the proceeds of said property be sufficient
therefor, and, if not, pro rata, without preference of one over
another. In case of the foreclosure of this mortgage, the
holders of the said certificates or debentures shall be entitled
to the same benefit of security as if they had not surrendered
their coupons, that is to the extent that the surrendered coupons have not been paid io cash.
The Company further covenants that in all annual elections
of directors of the Company for four years after the first
election it will cause to be elected four members of the
said board upon nomination of the holders of a majority of
the bonds of this issue evidenced in writing and presented
through the Trustee; and one of the directors so chosen may
be a vice-president or other executive officer of the railroad
company.
—
Default. The provisions in case of default are substantially
the same as in the first mortgage, an abstract of which is
above, except that it is expressly provided that no sale shall be
made of the mortgaged premises under proceedings instituted
upon this mortgage until January 1, 1897, unless proceedings
be sooner taken to foreclose the first mortgage.
Trustees. The provisions referring to the Trustee are
substantially the same as in the first mortgage, an abstract of
which is above.
—
Property Covered.— The conveying clause of this mortgage
similar to that in the first mortgage of this Company, an
abstract of which is above, but it should be noted that the
second mortgage has a first lien on such rolling stock and
equipment now or hereafter owned as is not purchased with
the proceeds of first mortgage bonds, and upon the stock and
The Guarantee Cjmpany of North America publishes its
bonds of the Union Terminal Railroad Company and uprn all aemi-annual statement for the half-year ending June 30, 1888,
stocks and bonds owned by the Company except those of its showing psid up capital of $304,600; Burplus to shareholders,
is
—
leased lines, but
upon certain conditions as
THE BOND.
set forth above.
Second Mortgage gold bond.
1, 1887.
l?I,0iOeacb.
Amount Ajtf/iwizerf.— *20,000,000.
JYtnc'pui -oj/oWc—The principal is payable October 1, 1927, in cold
com of the U itod States oj tbe present standard of weiglit
and fineness
In New lork City.
/«(««-! »'a!/u6(e.- Interest la payable April 1 and October 1 , at
the
rate of 3 per cent per annum lor the tlrst ten years, and thereafter
at
theratcof 4 per cent per annum id gold coin. If during the first live
years the earnings of Uie property in any half year do not suftice
such interest in cash, it shall be paid wholly or partly in scrip to i>av
the
lolhwing rates: If no cash be paid, then 2^ per cent in serin- ifats'hn
paldinca»h.2i)e,rceiitiU8eilp; if 3„iuca8h, l^spcrcentinscrii;
V,iuc.ash
1 per cei.l in scrip; if 6„ in cash, ^ per cent In scrip. Ai er tie first
years the luterest shall for the ensulug five years be payable
cash at
therateof 3 i>er cent, and thereafter in cash at the r.-ite of 4 in
per -ei.t
'""''e" ".P t" *«;y«." )>«'• ^eut p,r annum shall be paid in Tuiy
Sl!l''!/'V;''
year, if after payment of a dividend of J per cent upon the
capital stock
of the comiiany, any residue of net earniugs for that year
re uaU s
In
theevontof any cupons being paid wholU or partly "in scrip,
the Com
pany shall designate an agent at Frankfort on the Main, to
rocei've
'^''"'"«
the
coupons and to deliver the cash .and scrip free of charge
raxaf«»t.-Provi8ion respecting taxes is the same as in
the first mort"' J"B^,'^re(l.-An bonds are coupon bonds with
prlvUeac of
JIt.?",?
registration, provided the coupons yet t« mature
"""""""^
btnkmg t'und.-yio Smking fund is provided for.are attacliX
Bate.— December
Venomma
ion.
H™
InUrest Payments.— In each year during the
first five vears
directors of theCompanyshaU within sixty days after the first days of January
and July,'asoer.
tain and declare the amount of net earnings
and income of
the Company for the half-year next preceding
such first days
of January a' d July, and shall determine
what amount
thereof 18 applicable to the payment of interest
due on the next
succeeding April 1 or October 1, and such net
earnings fhall
be ascertained by deducting from the gross
income^of he
mortgaged property for such h.lf-year the expense
of oner!
Bting the same, and all suras paid or incurred
for interest on
the hrst mortgage bonds, and for taxes,
insurance and such
current repairs and renewals as may be necessary
for the safe
and proper transaction of business, and such
expenditures for
adduional equipment and appurtenances as may
from titne
to time be required, and as in the judgment
of the di>ec ots
Of the Company ought to be paid out of the
gross income
from the date hereof the
$151,850; total resources for security of policy holders, $956,The company has paid to date losses of $596,405. This
company has more than ordinary interest for the public at
this time, owing to the fact that Pitcher, the bank defaulter in
Providence, was arrested in consequence of having his bond
guaranteed by this company and the alertness of its officers in
arresting Pitcher immediately on his arrival in Canada. The
headquarteis of the company are at Montreal, and this seems
to be a point of some significance.
405.
—
We have received from Mr. Philo Piatt Hotchkiss, his
brochure on "Banks and Banking," an historical sketch based
upon official records. The author begins with the fir^t chartered bank, and sketches lightly the successive changfs in
banking up to the present time. Short articles on "Call
Loans," "Usury," "Barter," &c., &c., complete the work.
Copies may be procured at No. 34 Pine St.
— Mr. John H. Davis has been elected a mem ber of the board of
Columbus & Hocking Coal & Iron Company and
Mr. Jay O. Moss bas accepted the Piesidency.
Mr. Moss is
Vice-President and Treasurer of the American Cotton Oil
Truft. He is also a director in several railroads, and largely
interested in coa) and iron industries in Ohio.
The Clark County Loan & Investment Company, of
Eaglewood, Kansas, publishej its card in the Chronicle.
The company invites correspondence from investors.
It has
a capital stock of $50,000, and guarantees all loans at 6 and 7
per cent, such mortgage 1 oans not to exceed 40 per cent of the
value of the property.
directors of t he
—
—Attention is called to the new loan of $450,000 city of St.
Paul i}4 per cent bonds due in 1918, and to the $75,000 Ramsaj
County, Minn., 43^ per cents, due 1918. offered in our advertising columns to-day by the well-known firm of Messrs. Blake
Bros.
&
who will give full particulars upjn application.
E C. Benedict & Co. give notice that they have
Co.,
—Messrs.
some choice
may
securiiies to offer to investors,
of
which particu-
be seen in our advertising columns.
_,
—Messrs. Griswold & Gillett are offering some 10, 30, and
30 year 4 per cent bonds of the city of Columbus, Ohio, whose
small indebtedness will no doubt commend these securities to
* careful investors.
lars
,
July
.
THE CHRONICLE.
88. 188b.
COTTON.
(£ommzvcM %unts
COMMERCIAL EPITOME.
glic
Friday Nioht. July
FainAV,
bill
27, 1888.
for the revision of th« cuBtoiis tariff
weathtr has become warm und forcing, greatly improving
crop pn speots, and permitting the harvesting of the auiumnsown wheat under favorable circumstances. Busimss begins
Manufacturers and miners
to develop life and activity.
appear to be fully employed, and with the passage of some
measure to reduce the surplus in the Federal treasury the
outlook would be quite encouraging.
Lard on the spot lias met with but a very limited demand,
but in sympathy with the course of apecuUtive values prices
have steadily advanced, and the close is Arm at 8-30o. for
prime city, 8 90(g8-95c. for prime to choice Western and 8'60c.
for refined to the Continent. The speculation in lard for future delivery has been dominated by the action of Western
operators, atd though not active, prices show a decided ad-
vance, closing steady.
DAU.T CLOSDJO PRICES OF LARD FtTTURES.
Satnrri'u. Mmid'v Tnetil'y. Wedimd'y. TAij r«d'v, Friday
..c.
839
8«6
8-ti!)
Bept. ilelivcry, ..0.
Oct. delivery.. . 0.
Nov. delivery.. ..0
Doc. delivery..
Year delivery. ..o
6-t)2
8-«8
8-6d
8-74
8-70
Ang. dnlivery.
8'60
8-71
8-72
8-67
8-03
7-89
7-87
800
7-87
8-76
8-78
8-8.'5
8-7.'?
877
8-r,
8-10
7-90
7-81
7-8X
Pork has further advanced, with the epeculation at the
West more active, but the regular trade rather slow; mets,
fl4 95g|l") 2.') for old and new; extra prime, $-13 50® $14;
Cutmeats have contioued to show an
clear, |16 50@$18.
upward tendency in values; pickled bellies, 9J^@10c.; shoulders, 7?4'@8c.; and hams, 12}4@12}^c.; smoked shoulders,
8>^@^?i'c.; and hsms, 18^@14c. Beef rules quiet at |7@7 50
for extra mess and |8@8 50 for packet perbbl. India mes
quoted at |13 00(314 50 per tierce; beef hams firmer at |lo 50
(3|16 perbbl. Tallow is quiet at 4 JgC. Stearine is quoted at
10J^@llc. Oleomargarine is dull at SJ^iaSJ^^c. Butter is in
moderate demand at 17® 21c. for creamery and 12@15c. for
;
Cheese
Western creamery.
easier
is
and
fairly active at
8®
9i^c. for State factory.
Coffee on the (pot has been dull, but closes with rather
more businefs doirg, the sales to-day including No. 8 Rio to
arrive at lOJgO. The epeculation in Rio options has been 8lu.<gisb, with elight and somewhat irregular fluctu^itiona in
values, declining to-day 10@20 points, closing tteady, with
sellers at the following prices
July
11-200.
Aupiat
lO-tioc.
I
8ei>t«tDber
lOO&c.
I
9 -700.
1
October
I
:
November
n-70o.
necemt)er
<J-70c.
9*()i-.
January
February
S'85c.
I
j
March
900c
April
9
May
lOOOc
Juue
10-05o
sugars have been dull and drcoping. To-day 1,800
hhds Cuba aLd English Islands, 88 deg. test, sold at 5ii5c.;
and centrifugal, 96
deg. test, at BigC. Refined sugars are in fair demand ami
Molasses has been more active, and closes firmer at
steady.
Cuba
22c. for 50 deg. teat.
is
quoted at 5
3-lOc,
Teas are steady.
We
are mfermed that on Aug.
20th the Consul-Oeneral of It4ly at this port will give out
contracts for 8,950 hhds. tobacco. Seed leaf tobacco continues
in good demand, and sales for the week are 2,939 rases, as
follows: 1,000 c«8e8 1886 crop. State Hivana, 10@13c
400
cases 1887 crop, Pennsylvania seed, 10® 12)^c,; 212 case<< 1887
crop, Zimmer's, 17(1^ 19c. 300 cases 1886 crop, Pennsylvania
seed, 6''^®12>.; 117 cases 1887 crop. New Eogland H>ivana,
19@2«c.; 150 caees 1886 crop, Dutch, 9»|@lli^c.; 200 oases
1884 crop, Wisconsin Havana, 9c. 100 cases 1886 crop. New
England seed, 10}^® 14c., and 50 cases 1886 crop, Ohio, private terms; also 500 bales Havana, 60c.@f 1 10, and 250 bales
Sumatra, -$1 40® ^1 SO.
There has beeu rather more life on the Metal Exchange, but
to-day business was quiet. Straits tin was irregular, closing at
1940c, on the spot and 19'10c. for October. Ing(jt copper is
dull and weak at 16 80c. for August.
Lead, though slightly
dearer, is dull at 3'93J^c. for August. The interior iron markets are more active and values are hardening.
The speculation in crude petroleum certificates was buoyant and the price touched 85c. on Monday. Since, the market has been weak andj unsettled, closing at 81@bli'80. It is
reported that some old and abandoned wells have l)e.>un flowing again. Spirits turpentine was active and 010:^68 at 8.5®
85)^0. Rosins are wii;hoiit decided change at |l'02}^@l'07i^
for common to good strained, but the close is dull.
Wools are active, some large lines of spring clip Texas,
pulled and carpet sorts, having changed hands. OtwtructioQa
to canal navigation continue to unsettle ocean freights.
Kentucky tobacco
is
quiet.
;
;
SteeCptt at-
Hon.
Sal.
-
Galveston
Indlnnola.&o.
let
488
283
IS
1
Thun.
Wed.
Tuet.
49
*H.
253
««>«
New
80
47
Orleans...
Mobile
Florida
•lei
40
1,152
53
2
119
1
f29
326
1
1
Bavannab
29
64
20S
327
2
347
462
274
174
2
320
Bninsw'k.&o.
128
CbarlcAton
Port Royal.&c
Wllralntfton
Toua.
84
5
1
...
144
3
1,629
8
2
1
••-«
Wash'gton, <Jto
Norfolk
130
7
400
13
39
West Point, Ac
New York
145
41
268
125
70
RoH*on .........
Baltimore
PhUadclphia.&c
112
76
315
126
50
559
131
20
16
21
86
230
141
1,683
234
656
452
234
713
536
401
tOG 1.522 _l,09o 1,364
1,172
1,874
8,033
For comparison we give the following table showing the week's
total receipts, the total since Septernber 1, 1887, and the stock
Totals this
week
to-night,
compared with
last year.
1886-87.
1887-88.
Reeeipl* to
July
Thin
Week.
'27.
Since Sip-
253
Salveston ...
Iuu'nola,&o
1887.
1,
Btoek.
.Since Sep.
1886.
1,
247
1888.
1887.
706,033
844
1,677
2,035 1,727,.509
28,481
1,957
46,640
655,328
•«•>
New Orleans.
Mobile
1,1.52 1,770.138
119
204,!! 58
1
24,333
Savannah ...
Brimsw.,&c
629
326
869,8-'l
Charleston ..
P. Royal, Ac
1,529
3
2
Florida
WUmintcton
Thit
Week.
-
Wa8b"t'u,&c
Norfolk
W.Poiut.&c
536
401
New York....
1,683
Boston
Baltimore
...
452
234
PhU'del-a,
Ac
71
:<
Note —21,907
30
76,070
421,399
16,166
168,080
4,933
486,754
519,796
98,462
95,300
50,131
27,365
8,oa3 5,4»8,9J7
Totals
213,440
23,167
794,691
31,731
368,203
19,212
134,7;«
3,839
532,138
324,071
06,802
9
111
51
10
873
64,497
58,355
26
1,129
......
1,623
3
105,3,18
S6
329
2,581 5,204,679
•
891
748
687
3,953
2,554
142,212
4,000
4,870
118,279
3,000
4.0i'l
16,500
IM.^SS
192.058
Orleans
bales added as correction of recelprs at
New
472
since Sept 1.
In order that comparison may be made with other years,
give below the totals at leading ports for six seasons.
ReecipU at —
1887.
1888.
1885.
1886.
1884.
wa
1883.
i)r>c
Raw
fair rf fining
P. M.. Jul? 87. 1888.
as indicated by our telegram*
from the South to-night, is given below. For the week endins
this evening (July 27), the total ref;eipt« have rewhcd 8.033
bales, against 10,062 bales last week, 7,026 bales the previoua
week and 6,410 bales three weeks since, making the total
receipts since the Istof Septemlier, 1887. 5.4H8.937 bales, against
5,204,679 bales for the same period of 1886-7, showing an increase since Septeml>er 1, 1887, of 284.258 bales.
Thr Movkmknt op thk Crop,
passed the
is
now
in the
and
last
Saturday
on
Kcpresentalivoa
Hou«.< of
The
hiiniis of the finance committee of the Federal Senate.
The
Ill
253
Galveston....
New Orleans.
MobUe
Savaunab
...
1,132
119
629
9
30
1,332
2
111
51
16
1,826
Charlest'n.Ac
Wllm'gt'n, Ac
Norfolk
W't Point, Ac
All others
3,409
82
week
8,0^3
2,581
Tot. this
atnce Bept. 1
536
401
130
291
57
28
136
131
1,662
58
635
21
2,035
I.i2
313
2.=.
122
127
12
118
9
123
131
4,362
1,828
3,281
9,060
2,588
4,283
335
39
7,064
5488 .937 5 204.679 3298, 672 47 23,913 4805,767 5940.554
Galveston includes Indianola; Cbarlestuo includes Port Royal, Ao.I
WUminKton includes Sloreb'd City, Ac; West Point includes City Point, Ae.
The exports for the week ending this evening reach a total
of 24,275 bales, of which !4,8l9 were to Great Britain, 7,218
to France and 2,2£8 to the rest of the Continent.
Below are
the exports for the week and since September 1, 1887.
;
Week Ending July 27,
From
Jutv 27, 1888
Exported to—
Sept. 1, 1887. to
E^pported to—
BxporU
ContU
Great
Oreat
ContU Total
Brifn. J"^""" nent. WeeJt. Britain. *"»««•
I
I
I
QalTeaton ..
New Orleans
Mobile
1,805
e.iio
8,469
HI.978
S,44«
..
Charleston
.
Wilmington
Norfolk
West Point.Ao
New York..
9.870
4,:ou
.
1,781
Phlladelp'a'Ao
Total 18S8.7
12,480
70.887
76,186
29,tfS«
6,396
14..1t9
15,'
07
«0t).5l2
4.1,670
2S3,0S1
1I8,S20
a2.0«9
2.400
TiMn
Su.7«):
UI.90S
4,139
Sil8.08a
924.8S8
3,214
2S2.6!a
870,008
936.280
232,532
7,WT
4jioe,
Total
1117,1152
r««ai.
464,718 1.SI9.8S8
81.488
8.446
£40,8981 440,280
190.TS6| 867,281
e2,«HS|
Florida
SaTanoah*
Boaton
Saltlmore
ntnt.
4,oa<
754.721 309,804
)!?8,(i8H|
49.81
^8SM
l«8i,I8T
88.905
88,908
I
623 l.i9S,S21 4.068,430
7,S18i
2.«38| 84.27S 2.857806 104
2.860
4.888' 22,145 2.676.a,0<74.3C0 1.1H8.6^6 4.819,246
Includes exports from Brunswick.
1
p
THE CHRONICLE.
112
In addition to above exports, our telegrams to-nightalso give
U8 the following amounts of cotton on shipboard, not cleared,
at the ports named. We add similar figures for New York,
which are prepared for our special use by Messrs. Carey, Yale
The Sales and Prices of Futdres
Britain.
France. Foreign
Coast-
to
Stock.
Total.
icise.
a
None.
None.
850
400
None.
None.
1,000
2,600
None.
12,913
9,871
16,233
None.
None.
None.
None.
1.470
6,500
4,000
MobUe
Charlestou
'B»vannali
Galveston
Norfolk
New York
Other porta
Total 1888
57
None.
None.
943
WewOrleana....
G^^S
IE ^
Leaving
Other
None.
None.
None.
None.
None.
None.
600
iro
1,000
None.
27,481
1,0011
623
773
1,*'57
100
None
1,000
None.
None.
2,670
9,930
5,000
844
1,283
132,262
8,712
850
5,000
957
19,7i;0
173,935
100
400
3.4C0
1,412
1.253
14,783
22.4,'^^5
177,275
212,312
200
d
a
X
.
en;
:
a.;
II
"Cox
•Co':*
.
^f-E.
.,. .
15»
O'rS_;^
I
:
>^
rr-f.
«
-.^
"s!
I
CO
to
CO —
9w
M
p
Xg
ai
r-005
•<!
Cor*
-jo
-lO
SS."
CO
MM >
00
5
\
Total 1887
Total 1886
!
4,5I>9
I
to
.
^
to
^5
I
h-,0
to
ZjS
:
IS
s.:
CO
Ohj
t3 3]
-k
10
m
ICO
2; » 3
d ^
1
OD
O
a>
shown by the follow-
are
:
5
3
not cleared—for
On Shipboard,
Oreat
OT
r» »*r*
^'Sf? ch
& Lambert, 24 Beaver Street.
July 27, AT—
[Vou XLVII.
ing comprehensive table
tt-H
:
The speculation in cotton for future delivery at this market
been fitful and unsettled in tone for the week under reihas
On
view, with some irregularity in the course ot price'.
Monday there was fresh manipulation of August options, tut
continued favorable weather for the growing crop and the
report that cotton is to be brought from Liverpool to deliver
on August contracts caused, on Tuesday, a general decline.
the next crop advanced, with active
dealings in SeptemberJJoptions, on the reduced stocks in
Southern ports and the belief that the new crop will come
forward slowly. On Thursday there was renewed buoyancy
in pri: es for this crop, and some improvement in the next.
On Wednesday
This mornirg notices for delivery on August contracts were in
order, and they came out to the extent of nearly 60,000 ba'e?,
« .uf-ing a weak opening hut as these notices were mostly
stopped, there was a quick advance of len points for Augu t,
b jt the next crop showed only flight improveir et t, acd the
;
whole market relapsed into dulness, though the close was
Tfry steady. Cotton on the spot met with a small demand
for "home consumption. On Monday the salf s made public for
the previous week, and not before reported, were 3,405 bales
for export and 304 for home consumption. To-day there wis
a gocd spinning demand, »nd quotations were advanced i/^c,
midoling uplands closing at 10 13-16c.
The total sales for forward delivery for the week are 330,400
bales.
For immediate delivery the total sales foot up this week
6,406 bales, including 3,430 for export, 3.970 for consumption,
in transit. Of the above
for speculation and
bales
were to arrive. The following are the official quotations for
each day of the past week July 21 to July 27.
—
—
—
—
UPLANDS,
Strict
Ordinary
Oood
Orrtinary
IHon.Tnes VfeS! Tb, Frl,
Sat,
spib.
Orrtlu?ry
716,«
715,„
b'lR
716,
f^aa
rj^
93a
lOU
97r
IOI4
9'«
IOI4
IIOI3
u-H
lOH
Ull-^
1013
7i5,r,
8'',«
«'ifi
9%
9%
9^8
Good Ordinary
(Low MtddltaK
Strict Low Middling
9''«
Btflct
1014
IOI2
lOiijalOUiB 1011,6 lOU,
11
11
11
MlddlliiK
Good Middling
Btript Good Middling
11
III4
11=8
12I4
iSnddllng Fair
Fair
GULF.
jll'4
11»8
I214
Sat.
Ordinary
Strict Ordinary.
Good Ordinary
..
etrlot Go.'d Ordinary
LiOwMlddliUK
Btnct Low MidcUing...
MlddllUK
Good Middling
Btnct Good Middling..
Middling Fair
Fair
^
t,'
8'',6
8»,«
913
9H
10
81,.
8«,6
91a
11=8
0'16
91-!
10
10
103a
im iW im
11% n\ w*,
1238
1238
f
lb,
7
'8
1238
7'8
7^8
91s
106,6
912
106,6
10
88,6
811,6
9=8
10l8
II 38
1I113
CD
lOSs
10%
01
89,6
91a
1013,, 1016,6
Ills
1138
11%
11%
1238
1238
Mon Taea Wed
Tli,
7 '8
89,6
8»,6
9I3
91a
106,6 105,6
89„
OI3
106 16
U
IIH
ni>R
1214
:
61,6
Sat.
1038
1008
1013,6
lllg
1133
1134
1238
1011,
llH
1('38
1038
10»8
1058
1058
lOOg
1013,, ]013i6'1013,„ 1013,,
1118
11% 1138 1138 1138
STAINED.
Good Ordinary
Btrict Good Ordinary
t.ow .Middling
Middling
12 14
91a
10
12H
IDon Tnes TTed Th. Frl.
8 '18
10
1038
.
11 14
ll»a
81,8
715, „
Hhn
1114
1113
ll'g
121s
>
-j-j
COH
I
o
o
I
ccto
5
-1^
2
MO
I
^
SI
<c:d
QCCS
OS
:
c? -xooco
o "i
-1
oa
<i
CO
o Mm m o
toto
5 toto 5 <oto 5
tsg
1
00
9
*»
-q-j
2
"^
COCO
Sir':
I
d
CD
,
'
-i-j
I
(OX:
1
^
I
«e
obob
«
.»
~1
<i<i
eto
5
cra>
2
T
MM
:
I
6.««
(CtCgcO
8
CCGD
968
107i,
in the following statement. For the convenience of the reader we also add a column which shows at a
the market closed on
SIm'
Frl,
I
same days.
ob
'
1
<
I
I
IS;
The total sales
week are indicated
how
I
2
'^
'
UABEET AND SALES.
and future deliveries each day during the
glance
ag
tco
I
I
I
I
Ooo
1
-,
\
I
1;
I
I
I
l;
Includes sales in September. 1887, for September, 258,200 Septfor October, 5';0,COO; September-November, for November, 481,600; September-December, for Doccmbor, 1,027,400 September-January, for January, 2,256,t00
Soiiteuiber-Febniary, for Febrnary. 1,591.7(10: September-March, for March. 3,112,100; SeptemberAvril, for AprU, 2.095,700; September-May, for May, 2,688,800; September-June, for June, 2,993,400.
XSr We have Inolnded in the above table, and shall continue eaak
week to give, the average price of futures each day for each mouth. It
win be found under each day following the abbreviation " Aver " Th
average for Ciich month for the week la alao Klven at h<ittom of table.
Transferable Orders —Saturday, 10-650.; Monday, 10-70).; Taesd ay.
10 650.; Wednesday, 10 'i5c.; Thursday, 1075 j,; Friday, 10-858.
,1
*
;
ember October,
;
SALKS OF SPOT AND TRAKSrr.
*FOT MARKET
CIAWED,
«at
..
Dull and easy..
Mdn. Finn
"Tueg
IiiiU
and ensy..
Ved l^nii't
Tbun Uriu
FM
Steady
Total. I.
JEjt-
porl.
3,430
1
siivip urt*n
671
293
218
338
ig
adv.
sit.
Total.]
Sales.
1,065
25,800
293 39,400
218' 59,800
338i 51,400
391 94.400
1,005 511,600
3,430 2,976
0,406 330.400
391
a
FtTTDRKS.
Con- SiKc- Tran-
Deliveries.
The dally deliveries given above are aotaally deUvered the dav
ptevlou* to that on which they are reporfed,
i_^^
SasSa
;
The following exchangee have been made during the week
02 pd.toexcb. 200 July for Aug'
•87 pd. to excb. 100 Sept. tor Autr.
•06 pd. to exch. 1,000 Dec. for Jan,
10 pil. to exch. 100 Dec fnr Oct.
•94 pd. to exch. 2i.O Seiit. for Aug.
•01 pd. to exc;h. -^00 Jnlv for Aujr.
•01 pd. to exch, 500 July for Aug,
.J
,
July
:
THE CHRONICLE.
as, 1888.]
8in»PLY OF Cotton to-niKht, aa made up by oabk
iw follows. The Continental atockH. an well ar
thoei- for l}rt«t Hritain and the afloat are this week's return*
and constKiuently all tho European fiKurea are brouRlit down
But to make the totals the complete
to Thuradiiy evening.
ajfuri'3 for to-nijcht (July -ill we tt<ld the item of exports from
the United States, iueludintc in it the ex|>ort3 of I'riday only.
Thr ViBiBiJt
and tolcfrriiph.
in
18H0.
69ti.OOO
Vr.l.OOO
17.000
1M,000
708.<iOO
613.000
.".,000
'^.'•00
5 '.000
82.000
38,000
24,000
770,000
4. ICO
44,000
-200
400
1888.
lf>m.
bale*
942.000
»..
lU.OOO
677,000
Sl.uOO
Total Oreat BrlUln stook.
OSM.OOO
''.UOO
00
Btock »t Uverpool
BWok at Loniu'u
Stock at n.4iiilmrK
IHHti.
BtockatBrL'm.-ii..
3-.'
Bto<k at Ai.iM.-nlaiu
Bto.k lit Kotxenlam
Btook at .Antwerp
Btotk at Havre
Btm-k at Marseilles
Block at BaicoUina
Stock at Geuoa
BtookatTrieste
10.000
1,100
1,800
!)0n
133,000
H.OOO
03.000
7,000
11.000
20.->,000
13!>,000
17(!.000
3.000
39,000
6,000
12 ,000
7.000
5«,000
18,000
11,000
0,000
10,000
iDtal Continental stocks
2C2.700
361,300
299,700
34i,100
400
TOO
41!,000
400
4,000
B'j.ooo
The abo^e totals show that the old interior stocka hava
(2«erea»ed during the week 8,3:!0 bales and aro to-ait;hl '1,110
bales
than at the same i>eriod last ypar. The receipts a(
the same towns have been 3,037 halee'tnure than the samt^
wook last year, and Hinco Si-ptonibcr 1 the receipts at all tb*
towns are 110,20'i bales more than for tho same time in 1886-7,
mum
Quotations fob Middlino Cotton at Other Markets.—*
in the table below we pive the closinK quotations of middling
cotton at Soutlit'rn and other principal cotton markets for each
Jay of the past week
912,700 1,121,400
7M,000
161,000
74,000
43,000
1,000
1,000
234,767
214,4iS
32i).700 1,069.300
75.000
65,000
IGJ.OOO
li!,000
1S)3.U55
2 1 ,000
4.5,000
192.058
26,017
1,770
21,-=>04
.52,191
3,162
2,367
18,142
1,4
50
1,193.742 1,514,024 1,438,9^5 1,477,477
Total visible supply
Ortbe above, tbetoiala ol Ainerloau and otber deairlpilous areasfoUovte:
—
Amet
icajb
Uverpool stock
Continental stocks
405.000
1»5,000
45,000
426,000
201,000
74,000
2.!4,7b7
2 ,617
1!»2.058
21, '.04
1,770
3,162
824,042
861,724
390.000
147,000
65.000
19J.655
bales
Anierluaii afloat lor Europe...
Onlted States sU>ck
United States Interior stocks..
United States exports to-day..
Total Ainerloan
Kasl Intlian, BrazU, dc.
Uverpool stock
London stock
Continental stocks
India afloat for Europe
Egypt, BrazU, &0., afloat
Total East India,
Total Auierioau
—
4c
CialveHton
18,142
170,000
17,000
...
Cluirlfctton
..
Wlliulnifton
.
Norfolk
lO^SisC.
PrloeMld.UpL. New York.... lOi^ieC.
|9~ The imports into Continental porta this
28,000
114,400
78,000
1,000
1)8,700
447,700
436,400
990,3i:5 1,041,077
Si^d.
56, gd.
9»i80.
lO^iic
week have been
18,000 bales.
'The above figures indicate a decrease in the cotton in sight
tonight of 315,2ti2 bales as compared with the same date of
1887, a decrease of 239,383 bales as compared with the corresponding date of 18^6 aud a decrease of 378,735 balei as
compared with
Baltimore
10=8
10^8
10>8
10
St. Ixiiiis
l''l6
Ciucliinatl...
1038
1018
Memphis
....
Louisville
...
9%
9\
9 '9
»'»
9H
0'8
9^
OH
9H
»'»
oi
9^
lOU
IOI4
10>4
iota's
m.
()'a
11
11
9%
«5i
9Ta
lOM
lo^a^a
OH—
Thur:
OT9
Si'"
O'a
9\
9'8
9^
lO's
lO^a
lO's
...
Plilladclphla
AU»,1l8til
Wednet.
Tuet.
913,8
0'8
10 >4
local's
lOH-Bi-'fi
lOijaoe
lOU
10«»ir''8
lOHa'gr
101l^»B
loigass
lO-a
K1I9
lOTfl
10%
10»9
1016,8
1018
10
10
10
10
10
101,8
10^8
lO's
101,8
10^8
ini«
101,s
lO'a
10^
io4
10>«
IOI9
10 4
10%
Receipts from the Plantations.— The following table
moTcment each week from the plantado not include overland receipts nor
Southern consumption they are simply a statement of the
weekly movement from the plantations of that part of the crop
^hich finally reaches the market through the outports.
Indicates the actual
tions.
The figures
;
Week
Ending—
Btceiptt at the Ports.
1886.
21.'S,000
161,000
1,000
5»iBd.
5»i(.d.
9%
9'8
0\
O'g
9^
9%
...
Savannah
lion.
1,450
1,199,742 1,514,024 1,438,0:'5 1,477,477
Total visible supply
Prto«sMld. Upl.. Uverpool
Batur.
New Oilcans.
Mobile
990,325 1,041,077
652,300
861,724
374,700
824.012
22!!,000
4:t,000
214,4s.t
52,191
2,307
272,000
31.000
10«,300
162,000
21,000
152,000
16,000
116,700
75,000
16,000
536,000
CLOSING QCOTATIOSS FOB MIDDLIXO COTTOH
Week ending
July 27.
Bo.ston
Total European st«ck8....
India cut ton atliiat tor Kiirope.
Aiuer. cntt'ii alltmt for Eur'pe.
K(Opt,Brazll,Af.,alltforK'r'pe
BtoeR III Uiilteil rttat«8 ports..
Stock In U. S. InUTior towns..
Onlted mates exports to-day.
113
lSfc5.
—
At thk Interior Towns the movement that is the receipts
for the week and since Sept. 1, the shipments for the week,
and the stocks to-night, and the same items for the corres
ponding period of lsaO-87 is set out in detail in the following
—
statement.
I
1887.
I
'
1888.
SVk at
IS8«.
Interior Towns. Rec^pte
I
1887.
I
1888.
from PlanVt
1886.
I
1887.
1888.
I
June 22....
n.ses
2,314
13.225; 96,832
••
29 ...
laly a...
" 13....
••
20
••
27
la.sio!
8.£68
1^.028
12,69t|
1.201!
89.99IJ 41.B0a, 52.«34|
6,4lo[ 77,n6l 88,2o3; 45.a»o|
1.873
».47l|
-,02a, 68.227
e.744
11.060;
2.5811
15.252' 03,081
8,721
a.hia
248
2,599
3,381
3?.66-
37
3,285! IO.O62! 61.810
29.188! 81.470
87.62H' 27,837 88,11)3
3,3J7
8.033
l.'-76
.Sa,8i8|
1,523
198
1,330
3.80$
4,723
—
The above statement shows 1. That the total receipts from
the plantations since September 1, 1887, are 5,493,3.0 balea;
in l«85-6 were 5,340,448 bales.
in 1886-7 were 5,li!4,556 bales
3.
That, although the receipts at the outports the paat week
were 8,033 bales, the actual movement from plantations waa
only 4,726 bales, the balance being taken from the stocks at
the interior towns. Last year the receipts from the plantations
for the same week were 1,330 bales and for 1886 they were
;
—
,
1,876 bales.
Amount of Cotton in Sight July 37.—In the table belot«
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
substantiaUv the amount of cotton now in sight.
1887-88.
1886-87.
,
1885-86.
1884-W.'-
I
Receiptsat theports to July27. 5,488,937 5,201,6;9 5,298,672 4,723,913
luterior stocks on July 27 Inl
'20,123;
excess o£ September 1
41,770
4,333|
3,3«ft
I
o
as
.
I
Tot. receipts from plantat'ns 5,493,270 5,184,556 5,340,448 4,727,278
96ii,771] 78:^,062, 816,5581 606,56»
to July 1
to Julyl
420,000| 378,000| 300,000
261,000
Net ovcrlaml
1
Southemcoiisumpfn
Total In sight July 27
to
CM
:
0»
taroaMMWM
"c
Sm
2
MiiV.Vr-i-i
!C^Cm — « :o CI M :5 cs
«
A
^
I
.f'"
.
WW
M M CC M
a ^
O"
to
O
O a M O, wT ^ O U" O'
— Cf^MtOtCCSQt^r.p
i^'-^^X-l
>~'
<-•.
*-y^
0;
— ^'^;,
M ^S- bo- oVi
y c w 10 c: :^ 'w -' c to - ,^0
c: X
7ocib
o.
rf-
CJ
CJ»
I-'
jr.
v""
w';^
":,;*,&.
la
a-.
<1
'.5
5
i-'l
to,
c;i
CI
cj
0»M«
o»
to
u to u r: c
CO
8^5:
•00
too
CO
ocoo ,;^,:k,;>cc
cc:ctOM:£M
- C< M U p- C. C V' M (^ tc W w" *J CO M o
M
o
gi
Ol'
<io:
O' to
M
_10
"••.:
cc
•
'-'OK
1-3
CO*
1,289,
lO'j bales.
Weather Reports bt Telegraph.—Telegraphic
1:
'i
advices to
us to-night indicate that the weatber co.iditioi s hivecontitued favorable to cotton. The outlook is quite satisfactory
at preeett, especially in Texa?.
Qalvedon, Texas.— Wt) have had dry weather all the week,
Galveston receivfd its first bale of new cotton on July 25 froca
Dewitt County. The thermometer has ranged from 76 to 88,
a\ei aging bS.
taiesiine, Texas, Theie has been no rain all the week.
The crop is exceedingly promising, huo the weather is getting
rather dry. Average thermometer 79, hiuhest 92. lowest 66.
Uunts-cille, Texas.— Vie have had dry wt-atber all the
wfek. The crop is in very fine condition. The fields aie clean
—
•
CO
OtQCJ
5"
and the plant
is
growing rapidly tnd
mometer has averaged
|B>
CC
«(-
65.
C C X' <I
-JtO
"Tie
t
-^i
oroM
J
a',
•
X
M,
;
.
out;
xio'
*<»:
to
•4
i*»C;»M..,
—
iiKur<-« it)r Lnuisviiin in
This year's figures cstiimited.
OS
M
;
•
^1 1£
WO,
M w;
tofe l-Mt^U*^^
wtol
,
I
^..WM^or^I
WlOM»-C:3Xol
butbl years are "net,"'
81,
lull of bolls.
Ti e thtrthj highest being 97 and the lowest
—
The crop continues fiist clsss in evfry
would be benefitted by a*ood rain, thciiRh there
ix no EufTericg as yet.
Ihe theimometer has averaged 82,
ranging from 65 to 98.
San Antonio, Texas.— The, outkok continues the most
promising for ninny yearp, but some sections north ai d west
Ijom here are b gim ing to metl u.in. The tbi rmomeler ha9
ranged fiom 66 to 95, avei»)(iii^ 81.
Lvling, JearcA.— The weather hi-s been dry all tl week-.
The crop IS fimply sploLdid. Pickmn is leftinnin^. ..Terage
ihtiUicmeter 81, higbiet 97 and lovtsl C4.
Dallas,
rf
Ot OOO*
6,S83,01l|6,3 15,618 6,457,006'5,593,S42
Northern spinners' takings to
July 27
1.733.2C9 1.601,022 1,734,261 1,349,683
'Decrease from Sept. 1.
It will 1)0 seen by the above that the increase in amount in si^ht to-*
niffht, lis couipar. il with last year. U 537.423 ball's, the Increase '4iS
lomparcd with .88.5-6 is 426,033 bales, and the increase over 1884-5
Texas,
spect, but
i
:
.
THE CHRONICLE.
114
[Vol. XLVII.
The following statement we have also received by telegraph,
Columbia, Texas.— i^o rain haa fallen during the week.
All crope continue in fine condition and very promising. No showing the height of the rivers at the points named at 8
o'clock
July 36, 1888, and July 23, 1887.
caterpillars as yet, and rain is dreaded lest it may bring
them. The thermometer has averaged 80, the highest being
Julj/ 20, '88. July 28, '87.
04 and the lowest 66.
Feet. Inch. Feet. IneH.
loin
this
Ouero, Texas.— Better crops were never known
New Orleans
Above low- water mark.
8
9
3
S
Picking has been begun. Weather dry all the week. Memphis
Above low- water mark
20
cality.
4
8
4
Nashville
...Above
low-water
mark.
3
1
93.
9
from
to
ranging
84
The thermometer has averaged 90,
...........Above low-water mark.
16
7
8
Brenham, Texas. The present position of the crop is all Sbreveport
VloksbuTK
Above low- water mark
28
1
8
8
that could be desired. For fear of worms, rain is not wanted
India Cotton Movement from all Ports.—The receipts
in bottom lands, but uplands would be better for a good
Bhower. The thermometer has ranged from 68 to 97, aver- and shipments of cotton at Bombay have been as follows for
aging 83.
the week and year, bringing the figures down to July 26.
good ram
Belton, Texas. Crops are very promising. _
BOUBAT RECEIPTS iND SniPHENTS FOR FOITR TBAB8.
would be of advantage, but nothing is sufferiog. Average
SMpmentt thU aeek. Shipment! Since Jan. 1.
Receipt:
thermometer 78, highest 94 and lowest 62.
ContiThu
Since
Weatherford, Texas. The crop prospect is excellent, but Tear Great Conti- Total. Oreat
Total.
Britain nent.
Bnfn. nent.
Week.
Jatu 1.
rain is becoming desirable. The thermometer has averaged
78, the highest beipg 96 and the lowest 59.
1888 3,000 2,000 5,000 205,000 591,000 796.000 6,000 1,263,000
Ifew Orleans, Louisiana, There has been no rain all the 1887 2,000 2.000 4,000 355.000 643,000 99S,000 H.OOO 1,431,000
1886
5,000 5,000 301,000 627,000 928,000 9,000 1.330,000
week. The thermometer has averaged 84.
2(i!l,000 455,000
1885
6ti4,000 2,000
973,000
Bhrevepori, Louisiana. Telegram not received.
foregoing,
According
to
the
Bombay appears to show a
Columbus, Mississippi. There has been no rain during
decrease compared with last year in the week's receipts of
the week. Average thermometer 75, highest 90, lowest 62,
The 2,000 bales, and an increase in shipments of 1,000 bales, and
Leland, Mississippi. No rain during the week.
thermometer has averaged 77'7, the highest being 93 and the the shipments since Jan, 1 show a decrease of 203,000 bales.
The movement at Calcutta, Madras and other India ports for
lowest 64,
the last reported week and since the 1st of January, for two
OreenvUle, Mississippi. Telegram not received.
Clarksdale, Mississippi. There h^s been no rain since years, has been as follows. "Other ports" cover Ceylon,
Tuticorin. Kurrachoe and Goconada.
The weather has been favorable for cotton.
last report.
Vicksburg, Mississippi. Telegram not received.
Shipment! for the week.
Shipment! rince January 1.
JAtUe Rock, Arkansas. The weather during the week has
been very favorable to planting interests.
light shower
Great
OontiTotal.
Continent.
Total.
Britain.l neni.
fell on one day, and the remainder of the week has been
—
—
A
—
—
—
—
—
—
—
—
—
The
A
BH^L
|
reached twelve hundredths of an inch.
Reports from all sections of the State are very favorable
at present. The thermometer has averaged 82, ranging from
66 to 93.
Helena, Arkansas, Crops look promising, but are grassy.
Farmers are working hard. One shower has fallen during
the week, the rainfall reaching thirty-two hundredths of an
inch. The thermometer has ranged from 64 to 91, averaging 77.
Memphis, Tennessee.—The weather has been hot and dry,
excepting light showers on two days. The rainfall reached
thirty-eight hundredth of an inch. Crop prospects continue
good. Average thermometer 78, highest 94, lowest 66.
Hashville, Tennessee.—We have had no rain all the week.
The thermomtter has averaged 77, the highest being 93 and
the lowest 62.
Mobile, Alabama, Telegram not received.
Montgomery, Alabama.— 'Ra.in fell on two days in the early
part of the week, but since the weather has been hot and dry;
cotton and corn are doing splendidly. The plant is maturing
early and there are open bolls in Montgomery and vicinity,
few worms are reported in isolated localities, but no damage
as yet. The thermometer haa ranged from 67 to 97, averaging
81, and the rainfall reached three inches and twenty-four
hundredths.
Belma, Alabama. It has rained on one day of the week,
the rainfall reaching fifteen hundreiths of an inch. Average
Ubermometer 79, highest 89, lowest 70.
Auburn, Alabama.— Ciops continue to do well. No rain
has fallen during the week. The thermometer has averaged
clear.
rainfall
—
—
A
—
78, the highest being 90
Ciloutta—
1888
1887
3,000
3,000
28,000
98,000
63,000
116,000
91,000
214,000
2,000
2,000
2,000
2,000
4,000
8,000
13,000
4,000
3,000
12,000
16,000
9,000
7,000
3,000
9,000
10,000
27,000
32,000
14,000
IH.OOO
41,000
51,000
2,000
8,000
11,000
17,000
63.000
143,000
81,000
138,000
144,000
281,000
,
Madras—
1888
1887
,
All others—
1888
1887
Tjtalall—
1888
1887
The above
9,ofl0
9,000
week show
that the movement from
6,000 bales less than the same
week last year. For the whole of India, therefore, the total
shipments since January 1, 1888, and for the corresponding
periods of the two previous years, are as follows :
EXPORTS TO EtJROPa PROM ALL DtOIA.
totals for the
the ports other than
Bombay is
1888.
1887.
1886.
Shipment!
to all
Europe
Thi!
from—
Bombay
All other ports.
Total
Thi!
meek.
Since
Since
vteek.
Jan.
5.000
11,000
796,000
144,000
4.000
17,000
16.000
940,000
21,000 1,279,000
1.
Jan.
Thit
week.
1.
99S,000
281,000
Since
Jan.
5,000
4,000
1.
928,000
128,000
9,000| 1,056,000
Alexandria Receipts and Shipments. —Through arrangements we have made with Messrs. Davies, Benachi & Co., of
Liverpool and Alexandria, we now receive a weekly cable of
the movements of cotton at Alexandria, Egypt. The following are the receipts and shipments for the past week and for
the corresponding week of the previous two years.
and the lowest 66.
Madison, Florida,— It has been showery on one day of the
week, the ramfall reaching five hundredths of an inch.
The
Alexandria, Egypt,
thermometer has averaged 81, ranging from 67 to 94
1887-88.
1886-87.
1885-86.
July 25
C<^umbus, Georgia.—We have had no rain during the
Beoelpts (cantars*)—
week. The thermometer has ranged from 75 to
95, aver'jhls week
aging 85.
Since Sept. 1
2,899,000
2,916,000
2,923,000
Bavannah, Georgia.— It has rained on one day of the week
Thi!
Since
Thi!
Since
This
Since
the ramfall reaching eleven hundredths of an inch,
The first
week. Sept. 1. week. Sept. 1. week. Sept. 1.
new bale reached here on Wednesday, and classed strict
middling, another received to-day, and still
a third will reach Eiroorts (bales)—
To Liverpool
1.000 246,000
2,000 259,000
231,000
*^" -^^^"2^ thermometer 77, highest 93,
Xo Coutineut
1,000,157,000
1150,000i
174,000
kwe8t°69
Augusta, Georgia.—The weather has been warm,
Total
Europe
2,000!403,000
1405,000
2,000|409,000l
with rain
""^''y local showers. The rainfall reached one
* A oantar Is 98 pounds.
h?rh°«^H
tech
and ?r;
forty-Beven hundredths. Advices from
a number of
This statement shows that the receipts for the week ending
points in this section say that cotton is
suffering for rain. In
July 25 were
cantars and the shipments to all Europe
lowlands the plant looks very well, but on
high and sandy 2,000 bales.
lands absence of ram reverses the
condition.
The thermom-
?^' '^« "«»>««* b"ng 97 and
^^1«^TT^
AUanta, Georgia.— Telegram not received. the lowest
6^.
*'eo''f/*o--Crop prospects continue good.
Rwn
k.TV^n"*''
has
fallen on four days of the week
to the extent ofone in^h
S^t'KwL"t7r '"''"'•
^'^"'^^ thermometer^?
—
Manchester Market. Our report received bycable to-nigh*
from Manchester states tha^ the market is dull for both
yarns and sheetings. We give the prices for to-day below,
and leave those for previous weeks of this and last year
for comparison
Charleston, Houth Carolina.— It has
rained on one dav of
the week, the rainfall reaching
sixty-six
1888.
hundredths of an
89, lowest 71
'« »'''<l^««t
m^.tZ'^l'^ll'^T^f^
mateourg, South Carolina.—Verv benefln,-i.i
,»;„»
m^T^'theZn-
32« Oop.
TiBiet.
t,
'"^'^^"^ toThe extnfofTrty-^II
no complaints of sttin^
?'*'T'"""
^"^ *"^"«^ ''^' *•»« ^i^i*-'
d/glord^h'er^sToe^
'h«n."roH.»,*"°, ^""^'^J
1887.
8I4 lb!.
Shirting!.
d.
d.
a.
d.
s.
d.
®8S8 5 8 ®7 1
2^'7H ®8i4 5 7 ®7
July 6788 9"^* 5 7 »?
" 13|708 ®8i4 5 7 ®7
" 20 7»B •asH 5 7 ®7
" 27i7»8 aS^ 5 7 «7
Jnn.22;7a8
"
Coll'n
Mid
Upld!
(L
8^
32» Oop.
d.
d.
s.
5i« 798 »3
5
5>«
5
7% ®8
S»16 7»8 ©S
5
5
5«B 738 as
7»8
®S
5
5»,n
5"" 714 ®7IB,e5
East India Crop.—The following
Company's (Limited) report of June 19:
is
lbs.
Shirting!.
Twist.
d.
s.
A.
8«a»6 10's 5 'a
^i8*6 10»s 5i5,a
S^s-aeiOis
6'9
Biso>6 10',
8>aa6 10>v
5%
8
*6 10
{from the
|HE
d.
Ootfn
Mid.
Vplds
5'll6
5«,i
B j*^ bay
:
..
JnLT
:
.
..
/
THK CHRONICLE.
28, 1888.1
H*
Ilimvy mill full on tli« 7th lust., Imt up t<) tUo iiroduiit lliiin only
Inoliiw hav.< riillon, iiniliist U)<^ IiioIim at llils tliii« I i^t ymir, iiml II
Cotton freights the past week have been aa follows
inuliM uviniifK. :in<l il iMiiiiot Iw mini tliiit tlio monmHin Imn lut yi!t net In
<n oarrirnr. ir.i-ivy r.ilri li;n f.tlliMi mmtli or llcpiiiliay, jukI II Ih |iroliiihl«
Tlmro liiis bcMni smnn nun In tlin ItiTurs
will nvirli linii" ulionlv.
•lid KiitilikWjir I'milinnlii. wliloli li;M eniililo.l Uu> culllviUiir< to immiiiMiiw .liirin!.' tlio iKvit fortnlk'lit urn Imxci- timn
nioniw |i oiulilnit.
th;tt
it
U
M
tliU lliiiii liut ycnr.
liikleit lunaihitn
p:irtlv ikoooiMtBil for by tlio al«wnrn ot liriivy
ralu up i!o inlry, wlileli Iciyeii tlio roiuU p issalilo. Wliou tlio nilus are
hoavlci- tni<ro will, no doubt, Ua it dUikp f:illlo){ olE
only lil.ooo
»iitli'i|i:aivl, l>«lii«
Tills
no
I'lin,
ilo iht.
Iiii
I
Do
>m
Do
aall
Bremen, steam
1837-S8
pounds.
all to
I4
e.
....
..e.
Bia
sail
Tbtol 0/ AH.
Otath,
18^7.
18879.
18S7-a
1887-8. I881VT.
Tda.
1886-7.
eH.-iU]
Total lat v..
74,U48| eK,9;B:l.2Hl,34T I.22tf,603 JS1.7U0|2^3,5tt4l
SOd.TSft
29 i. 139
Jannar:r
21.70,5
1111.138
4211.482
444,723 07.4.331 80,871
417.«Sl' 78.448 :6.97»
102.982
97.709
42B,»-<9
482.38«1 T7.831
October
November...
December
.
.
'
L6>.
SS.nlll
2S.74II>
24,478
84.tM.S!
2U.48>
Maroh
23,111
23,544 21,7Sl'
24.U61; 23,Hn3
Total Sdqr..
e»,.tio
. . .
February
....
400.987
42S.6a5
4S5.81S
538,'<80
Lbt.
428.415
422,554
378.1)31
74.889
77.H78
82,878
77,89 J
7«.-<2Hi
2O,0i8
3S,«81
400, 788
69,2118
72,8711
833.89,h!
349,777
78.287
88,33«
61,348
03,598
Mar
23,638
19,818
880.y87|
43O.8S0'
June
20,tl7<
19.20^
378,865
67.\t»i
B»,9S4 1.187.40^ 1,104.481 2I5.8H1 200.811
Total
M qt..l
308,268
830.806
92,946
loi.uau
89.011
897.408
91,828
81.163
82.804
2b3,88al
290,7»3
BtocklnKs and Bocka.,
Saadr/
104.878
101.892
»»,805 1.383.301 1.2<«8,0M 1281.810 2^5,484
mos. 144.236 138,380 2.074.818 2.824.63; 188.300 459,028
Total
April
81' ,.127
99.9X0
78,81
•
101.306
articles
Total exports cotton manaraotures..
2.000
l,7aj
17,207
17.226
877.213
983.646
The foregoing shows that there has been pxpirted from the
United Kingdom during the nine months 9:i3, 646,000 lbs. of
manufactured cotton, against 877,213,000 lbs. last year, or an
increase of 56,433,000 lbs.
JiTTE BtJTTs, B.\aoisa, &c.— There is a fair trade doing in
bagging but tiie drm prices cen'l to ch^ck buim^ss. Sellers
are quoiing 7i^c. fo- 1'^ Urn.; 8c. for 1% lbs,; SJ^c. for 2 lbs.,
and Ho. for Htandard grades. Jute butts are firmly held and
some sales are reported at IJ^c, l'9.ic. for paper grades, and
2@2J^c. for bagging quality.
Shippino
News.—The
exports of cotton from tbp Uniieo
States the past week, as per latest mail returns, nave reacasd
81,89 1 bales. So far as the Southern uorts are concerned, these
are the same e^norts rer>"'^*id bv telegraph and published in
the Chronicle last Friday. With regard to New York we
include the manifests of all vessels cleared up to Thursday.
Total hala.
Nkw York—To
Llverpo- 1, per steamers Adriatic, 1,2H3 .. City
ot Berlin, 1,244. ...Halley, 1,000.... Horror, 1,000.... Republic, l,l<)0....Tlie QuouD, 1,074. ...Umbria, 211. ...Wla-
<ou-in. 125
Hull, per steamer Santi.ito, 100
J.«itii, pet steamer Crystal, SOO
Havre, per steamer La Koiirgogno, 1.108
Bremen, per stenmers FiiMa. li
Saale, 30.5
Hamburg, per steamer Uliaetia, 225
Genoa, iier steam r Australia, 215
Kbw Oklkans—To Liv»r|iuui, per steamers Bernard Hall, 2,373
Jnmaleaii, 1,181
MercUant, !)il
To Bremen, jwr sto.imer City of Llneoln, 4,4t{4
To Hamburg, per steamer Federation, 19s»
7,317
To Genoa, per stcaimr ( liutoiiia, 4,:<43
Baj.ti.mork— To Lii erpool. per ste.uucr Barrowmore, 2,0l>2
To Bremen, per ^teamer Main. 440
Boston—To Liverpool, per steamers Catalonia, 1,173 ...Iowa,
4,343
To
To
To
To
To
To
1,1!)1)
To
To
litO
2,0ti2
448
...Kansas. 1,1MI
H.alifax, iier
Per 100
4,,303
steamer Carroll, 100
100
2S
Krederlclun, X. B., per schooner Progress, 20
PHiLADKLi-uiA—To Liverpool, per steamer British King, 1,073..
25'
25*
"lS8"e4 "ll8"64 «12^"««
....
.
»1«
»1«
*1»
»l«
'3»
'.12
38aa7„
32'*7g4
'39 '^''«4
Iba.
—
July 13.
Juti/ 6.
52,000
3,000
3,000
39,000
7,000
9,000
612,000
451,000
35,000
23,000
76,000
36,000
Bales of the woetc
bales
Ot which exporters took....
Of which speculators took.-.
Bales American
Actual export
Forwanled
Total stuck— Estimated
Of which American^Estim*d
Total import of the
week
Of which American
Amount
alloat
Of whleb American
54.000
3,000
1.000
45,000
8,000
9,000
577,000
417,000
32,000
17,000
95,000
55,000
July 20l
47.000
3.000
2.000
37,000
4.000
12.000
588.000
416,000
49.000
42.000
72,000
32.000
Julif 27.
46,000
2,000
1,000
37.000
7,000
12,000
542.00
390,00
37,00
23,00
65,000
27,000
The tone of the Liverpool market for spots and futures each
day of the week ending July 27 and the daily closing prieea
of spot cotton, have been as follows
:
Saturday Monday. Tuesday.
Spot.
Wedne*. Thurid'y.
|
Market,
12:30 P.M
M
Steady.
Mld.Upl'd8.
Mid. Ori'ns.
Sales
8i>ec. & exp.
In buyers'
favor.
Barely
supported
59i«
553
5»i«
50b
6.000
7,000
500
10,000
l,uOO
500
Qnlet.
Steady.
Quiet.
Qalet.
Qnlet.
Quiet and
Barely
Hteady.
steady.
fViday,
In bnyen'
favor.
Ik"
5»ig
5=8
5»1«
5°g
7,000
8,000
6,000
500
500
500
5=9
Futureg,
Market,
12:30 p.
Market,
4
P.
i
u.
(
Qnlet at Steady at
1-84 dec.
1-81 adv.
Steady.
Steady.
The opening, highest, lowest and closing prices of futures at
Liverpool for each day of the week are given below. These
prices are on the basis of Uplands, Low Middling clause, unless
otherwise stated.
r^The pricet are given in ptnee and 64fA« ihuti S 63 meat*
5 63 64(1.. and G 01 meann 6 l-64d.
Hat., Jnly t\.
Open BIgk Low.
4.
i.
d.
Clot
i.
8 35
Jn y-Aug... 5»2
Aa«.-Sept.. 52«
September. 5 28
9ept.-Oot... 5 18
Oot.-Nov.
8 12
BS6
832
523
528
518
512
585 6S5
Nov.-i>ea... "Ml
Dec.- tan . 5 10
Jao.-Feb. .. 5 10
5 11
5 10
611 5 11
510 6 10
8
8 10
Jnly
.
10
5 32
6 32
8 28
828
528
ft28
6 18
618
6 12
8 12
6 10
Alan.,
July 33.
Open BUlh Low.
d.
a.
d.
Tnea„ Jnly 34>
Clot.
Op«n
Hum
d.
d.
d.
638 5 36 636 635
6 32 6 32 6 32 832
329 629 6 88 529
639 629 828 529
618 518 618 618
613 613 8 12 613
511 611 511 611
6 11 611 610 611
611 611 6 10 611
tow. OlM.
d.
634 534 533
631 6 31 5 81
6 27
6 27
5 27
527 827 527
5 17 5 17 517
611 812 5 11
510 6 10 6 10
509 8 10 509
8 09 510 609
d.
8S3
8 31
697
SOT
517
51S
610
610
BIO
1,073
Wedne>.,JaIy'J3. Thnra., Jnly 36.
Total
25»
25
Liverpool. By cable from Liverpool we have the follow
ing statement of the week's sales, stocks, &c. at that port
We add previous weeks for comparison.
1,108
4,475
4,464
25*
25'
(i.^''i:s"a4'>>i28^'e4' "usI'm
d.
sail
100
500
405
223
215
I7»4»»3j 17g4®»32'17g4»93j'l7g^'»»jj';"64»».u'
Baroelona.steam d.
«.«
»16
»t«
Qenoa, steam . <f
»1«
hi
"le
Trieste, steam... <f.
7»2
'39
'32
Antwerp, ateam d. '32'*'»4 '32®''«4 »33«''«4
Lbt.
lOl.S'HI
"3»
via Lelth.d.
.
Ltu.
S8.T73
103,125
107.818
LtM.
84.234
ii«
>1m
e.
Beval, steam
Do
lamilhreai.
1887-8.1 1888 7.
Do
M«»'«4 'i«®»«4! •u»''e4' «u«»e4
eall...d
Havre, (team.... e.
Do
moremeut
JH.
WMhut.\ TAurt.
TU4I.
Jfon.
Satur,
Liverpool, ateam d.
EspOKTS OF Cotton Goods from Grkat Britain, —Below Hamburg, steam c.
weKive the exports of cotton yarn, goods, &o., from Oreat
Do
gaU...e.
October 1 in Amat'd'm, steam. e.
Britiiin for the month of June and since
and 1888-87, as compiled by us from the Britisli Boiird
of Trade returns. It will bo noticed that we have reduced the
115
Frt..Jnly37.
31,391
Open H<«k Low.
Olos.
Open Bith Low. CUM.
0pm
HtQk Low.
CIo*.
The
particulars of thea* shipments, arranged in our usual
form, are as follows
BalU
Sretnen
Livtrpool.
^
NewYork
New Orleans
7,317
4,475
2,092
4,303
1,073
Baltimore
Boston
PhUadelphla
Total
19,269
Hull
<t
<t
fax
Ham-
600
*««•
1,108
*«*«*
630
215
4,6t;3
44tS
4,343
•••«
***•
di
icton.
Total.
126
9,S70
13,481
2.538
4,429
•«**
XvfO
600 1,108 5,739 4,558
126 31,391
Below we add the clearances this week of vessels carrying
cotton from United States ports, bringing our data down to
the latest dates
:
Kew Orlea.ns— For Ltverpool-Jnly 24-Steamer Haytlan,
1,805.
For Uavre-July 2 i-Steamt-r MiirselUe, 5,986.
For Antwerp— July 23—S. earner Marse lie, .550.
Boston— For Liverpool—July 18— Steamer Vlriclnlan. 1,976. ...Jnly
—Steamer Pavonia, 4HS
July 2:1— Hteamer Miohlitan,
FHn,ADEUPiiiA— For Liverpool -July 24— .Steamer LoidUllTO,
For Antwerp—July 24— Steamer Switzerland,
.
.
.
d.
d.
d.
8 31
5 31
6 31
5 31
8 82
533 638 633
6 33 633 833
829 5 29 829 6 29
Jaly-^QK
AuK.-Sept.. 5 26 6 28 826 62S
September. S25 525 5 26 a-ii
Sept-'Oct .. 515 818 616 6 15
Oct.-.Nov... 8 10 5 10 8 10 810
Nov. -Deo... 508 508 508 608
Oeo.-Jan... 508 5 08 508 808
Jaa.-Keb.
608 608 508 808
630
SIM
826
518
6 31
6 31
8 27
6 31
5 17
5 17
610
609
609
609
6
JalT
.
Freder-
Leilh. Havre, burg. Oenoa.
d.
.
d.
d.
d.
8
SI)
d.
6 31
827 626 527
627 620 627
817 616 517
6 10 5 11 610 6 11
509 810 609 610
808 609 808 609
808 609 6 08 809
d.
d.
d.
6 31
627 627
687 627 627
6
17
610
609
6<9 600
609 609
<L
6 S3
6 31
6«r
6«T
617
11
6 10
5 09
80»
6oa
B0»
BREADSTUFF S.
Fbidat. p. M.. July 27, 1888,
There has been a good export demand for the low and me
dium grades of wheat flour, and very full pricas were readUy
obtained, buc the demand has been very freely mat. Reapproach of a
20 ceivers were ready sellers, in view of the near
new crop of wheat, which now promises to be abundant in
quantity and of good quality. Bye flour and corn meal were
—
.
.
..
THE CBRONICLE.
116
and drooping. To-day there was a firm but rather quiet
market, but fresh ground from winter wheat is more firmly
dull
rne pxporti from the several seaboard ports for the week
ending July 21, 1883, are shown in the annexed statement:
Exports
lield.
The speculation in wheat has been a struggling one, under
forcocfiicting influences. The bulls have been favored by
account;
Western
on
selling
free
bears
by
and
the
eign advices
»nd neither parly has obtained any decided advantage. A.
legililarge portion of the buying for early delivery was by
mate shippers, and this business, in conjunction with purchases on the spot, will, it is believed, amount for the week
betto more than two million buehels. Yesterday there was
ter weather in England, the demand fell off and prices weakened. Today, however, the market took a stronger turn on
the renewal of bad weather in England, together with reports from theNorthwest that the epring-BOwn wheat is be-
from—
New York
Boston. .Portland.
Montreal.
Philadel
Baltim'ie
N.Orl'ns.
N.
News
Corn.
Bush.
190.432
3,023
Bush.
148,314
74,433
93,044
192,126
B'Pteiiiber delivery
October delivery
c.
c.
Novembev delivery
December delivery
May, '80 delivery
.0.
c.
o.
8SS8
901a
89
895$
92J3
97 14
915^
9614
8SI4
8918
flOM
91^8
921a
9114
95^8
97
302,499
1,768,540,
484,840
150,468
1,577
552,389
100,807
4,48:
week
to—
October delivery
30
3033
29ia
ZO^
29%
SO"*
30
29-^
31
July 23.
Bbls.
Bhls.
73,603
7,772
7,498
12,387
Brit, col's
.6,630
Oth.c'n'ts
645
Fri.
30ia
29I4
sola
2Hl8
2913
29%
25,2!!8
Total—
7,3
are the closing quotations:
FLOU>.
« bbl. $2 25®f2 70 Snath'n com. extras.. $3 259
Fine
2 403 2 90 Southern bakers' and
Bnperane
family brands
3 003
Bprlug wheat extras. 2 80*320
ifiniLclearandstra't. 3 503 4 70 Rye flour, superfine.. 3 20 3
Fine
2 303
Winter slilpp' (I extras. 3 20a 3 40
Winter XX and XXX. 3 50® 3 60 Com meal
4.003 5 00
Western, *o
3 153
Pat^ts
Brandywine. ....... 34u3
2 853 3 00
eoathem supen
2 50
3 40
OBAIN,
Wheat—
c.
BpnnjT, per bush...
&5-
Spring No. 1
Bed winter No. 2...
Bed winter
eo
91
White
85
53
55
Oam— West'n mixed.
WeBt'nuilxedNo.2.
Bteamer^o. 2
We8t«ni yellow....
Boaihem white
8rt
3
3
3
«
3
3
Ry,
94
91
lc
93
92
57
57
White
fcO
No. 2 mixed
No. 2 white
40
36
BarleyCanada No. 1
Two-rowed State
Six-rowed State
Malt— State, 4-rowedL
53
State.
The movement
69
35
Oats-MUed
O2I2
3
3
54 3 57"
56
0.
Btate<bPa.,Vbush.
2-rowed
0.
74
:<7^
-a
a
3 45
3 37
3 41
3
3 ....
3 ....
3
3
Bunh.
Bush
277,875 l,lf8.311
16,K24 598,029
1887.
Week.
July 23-
Bush.
Bush.
412.673
42,643
500
336,7.' 0»
191,155-
327
2,425
27,103
7,500
21,957/
1,203
7
"i'ebo
302,499
109,S..7
l.OOO-
552,3Sa»
484,849
l,7G3,.'-|i0
Wheat.
Flour.
to
J Lit/
to
to
ttO.Am...
914,787
800.685
012,674
35,407
735,S88
465,351
36,085
28,055
53,294
144,746
9.674,569
&,738,082
28,897,743
75,705.419
S.
West
Indies.
Bnt. Corules
0th. oountr's
Total
Btts*.
14,076,398 23,102,233-
15,693,349 41.189,286
10,873,055 84,410,919
48.2^5
47,417
470,307
985.387
to JUl'J83. 1887.
Bash.
5.856.570
837.488
6,038.644
Julu
21, 1888.
Bush.
Bush.
Bbla.
July
Eln.K ngdom
fonV.nent.
.
we
Corrk
23, 1887.
21, 18f8
23. 1S87,
Bbl».
July
to
to Jul\l
21, 1888.
3,081
4,505
4,038.877
23l.8i2
9.923,90O»
706,009-
400.509
498,48a-
73.331
S6,,398'
32.183
57,525-
19,753,125 34,323,665.
The visible supply of grain, comprising the stocks in granary
«t the principal points of accumulation at lake and seaboard
ports, and in transit by water, July 31, 1833 :
Wheal,
Corn,
Oats,
Rye,
Barley ,bush.
bush.
hush.
bush.
bush.
In store at—
112,127
340,577
649
Sew York
1,085,785
5,48i
107,900
10,000
Do afloat...
40,000
Albany
Diiluth
Toledo
.
Detroit
Oswego*
8t. lyouis
Do afloat
Clnciniiatl
Boston
roroutOMontreal
Philadelphia
Peoria
Indianapolis
K:Hn8K8 City*
B illimore
Paul
-'
25,0,;0
64.800
1.025.635 1,011,361 231.065
4,843.736 3,320,062 1,112,507
5.914
7,156
1,570,740
127,223
1,310
3.794,218
114,665
141.708
5,850
122,026
33,565
15,901
10,000
20.000
290,405
531,339
45,038
75,000
13.000
98.000
28,000
94,0 2
8,61G
91,725
16,380
56,293
(10.226
45,042
363,882
8,107 104,7.9
60,935
146,218 241,758
17.850
33.' 04
72,306
39,513
23.062
63,040
1,101
27,000
34,609
10,882
23,903
5,958
304
3^305
5,d66
1,000
442:
370
56,753
2,500
3,426-
20,183
i'423;
7,024
8,600
106,400
48,500
218,954
265,800
1219,789
517.865
504,000
636
1
,029,200
July 21, '88. 21,664. 810
,389,857 3,025,' 83
July 14, '88. 22,4 18, ',^68 9.332,01-13,468.325
July 23. '87. 32,021,051 7,379,219 1,971,067
rot.July 24, '86. 32,187,606 9,449.850 1,854,715
Tot. July 25,'85t. 37,529,325 6,827,657 2,312,566
t
55922,000»
5,393.
213... 54
513,757
5,735,850
60,000
Tot,
Tit.
X't.
*
2.233
31,19821,458-
.'
On Mississippi....
On Lakes
Ou canal & river.
market is indicated in the
statement below, prepared by ua from the figures of the New
York Produce Exchange. "We first give the receipts at Westem. like and river ports, arranged so as to present the compaUktive movement for tho week ending July 21, 1388, and
oince August 1, for each of the last three years:
July 21.
1.'37. Sept. i.-ea. Sevt. 1,'87. Sept. 1.'86. Sept. 1.'87. S«lJt.l,'86
Sevt
MimieapoUs
of breadstufls to
Wef.k.
July 23.
week's movemeat to our previous totals
have the foUowiue statement of exoorti:
(;hioKiiro
3 40
the-
Corn.
this
Milwaulsee
4 55
3 40
We add
1888.
Week,
1887,
1,220
150,468!
By adding
Bull 1.13
The following
19,010»
33,7411
5,882
Wheat.
1388.
Week.
July 21.
1887.
Week.
1888.
Week,
July 21.
95,114
2,273
20,5:8
DAILY CLOSINO PRICES OF HO. 2 MIXED OATS.
Tue4.
Wed. Ihuri.
Hon.
Sat.
3114
8019
30ia
31
Exports
/or
.
steadines".
0.
.-..o.
c.
2^,196
13,31S
15,107
The destination of these exports is as below.
corresponding period of last year for comparison.
911-2
.
19,01».
1,577
43,914
2,885
w'k.
1887.
901a
was not maintained, and with the depression in the
utures weakened in sympathy. To-day there
August delivery
September deUvery
50014
69,977
925s Un.King.
924
9,i8
96%
Cont'nt
AC. Am.
The recint 8.
W. Indies
at some recovery from inside prices,
DAn.T CLOSrSQ PRICES OF NO. 2 MIXED CORN.
Tuea.
Wed.
"hurs. Frt.
Sat.
Mon,
53 1«
53ia
64
63
54
c. 5433
Aagust delivery
5339
5338
5419
5318
54
c. 543i
Beptember delivery
53 13
54ia
5338
54"8
53=8
54
o.
October delivery
62I9
52 13
53
52%
635i
c. 54
November delivery
SOij
50
60
50
tO%
50
c.
December delivery
"
"
corner
on July
Oats show an irregular decline, The
was more
Bush.
.
is
contracts
Feat.
Bush.
16^606
for export on arrival, and the speculation in futures showed
considerable activity. Crop prospects have improved and
current supplies are large, weakening values somewhat, but
spot mai k
Rye,
Bush.
S'me time
89^
Indian corn has been a good deal unsettle''.
break in the Erie Canal, near Rachester, has kept current supplies within narrow limits, and lots on the spot have brought
2® 3 cts. per bushel o\er the value for early arrivals. This
circumstance has of course kept regular trade within narrow
But cargoes afloat on the Canal have been taken freely
limit?.
thecloss
Oatt.
BUS.
Flour.
FH.
(914
9018
91
8958
Flour.
-
Riohm'd
rot.
Wheat.
ing injured by rust.
DAILT CLOSINO PBICES OF KO. 2 BED WINTER WHEAT.
Wed, Th%ir$.
Tuea.
Hon.
Sat.
88I2
S9%
90
891s
o. 89^8
Aaitnsl delivery
ZLMI.
[Vol.
135,359
143,477
23e,393
304,o92
150,740
>•
151,42S.
149,365-
128,230
SH.BSS.
103,736-
Last weeli's stocks this week's not received,
Minneapolis and St. Paul not Included.
;
According to Beerbohm's London cablegram, the amount of
wheat and corn on passage at the dates mentioned stood aa
follows:
JiCMiptt
Ot-
Flmir.
WhtMt.
Bti'a.lM!»i» Bua)1.60U>i>
Chlca^o
MUwaulie*..
Dnloth
101,878
47,»t6
100,8«0
Mloneapolil.
Toledo
Detroit
Ctereland.
Bt.Lonlg
Peoria
..
Tot.wk. fiS.
eame,wk.'87.
eamevl[.'80
ainetAua.
lam^
ia8<».7*
1885-6"
*
2,162
4,100
6,S51
16,823
2,887
280.097
230,:«7
200,488
151.182
112,106
10,247
820,700
45.123
22.0S9
10.736
525,157
10,000
1,716.330
Corn.
Oats.
Bush.aeib. Bu«A.32U)s
77(>,418
847,748
7,170
53,000
10,321
!!.044
12,101
12.390
82,2J0
41,768
51.436
217,095
186,000
Sa5.2i!0
Barley.
Bvt.
BMh.mihn Bu.
14.305
6,700
B6
1,400
25S
6^8
1,800
1,850
1.13.5.S20
1.909.001
732 700
1.524.058
1.802,933
1,001,267
23,295
29,977
17.11B
60,391
4,372,420
12.224.007 108,572,706
Ifl.OlT.MH 02.080.117
88,403J89
77,5«1.077
Sa.867.»65
2.073,918
81.711.727
98,508,091
66.688,789
21,412,647
2.071,418
61,41>8,748
nasmfisa
2.«2«,ii80
8.8 ?7
88,107
1.
64.409.718
Indtide one veek extra.
Qrain on Passage,
Whea'
2,110
3.739.0; 3
8.5(11.51:)
Week ending July 25. Week ending July 18.
it,
4,183
Corn.
Wheat.
ro'Uulted Klngdcai..qre.
To Continent
1,963,000
302,000
390,000
55,000
Total quarters
Equal in bushels
Sa'ne week in 1887. .bush.
2,205,0001
445,000
The exports
of
120,000 3.560,000
19,384,00014,208,000
1 8,
Cotyi.
1,945,000
348,000
384,000"
33,000'
2.293.000 417,00<K
18,341.000 3,330,00021,fc32,000l3,610,00O-
wheat from India for the week, year and
season are as below:
Bxports of Wheat from India.
To United Kingdom
To Continent
Total
Week end'tj
July 21.
ITeefr
end'g Jan.
July 14.
1 to
July 21.
bush.
bush.
380,000
120,000
230,000
400,000
tush.
500,000
680,000 17,260,00»<
8,660,000
8,600,000
.
Jdly
THE CHRONirLF.
28, 1888.)
117
ing", corset jeans, cotton flanaeU and flat-fold Oimbrica.
Colored cottons ruled quint and uaohanged. Tho tone of lb*
mirket for plain an colored cottons i* fairly steady, but soioe
Nbw York, Friday P. M., Julj- 27, 1888.
weak spot* have been developed of late, and
buyers caa
The cltuntion fn tho dry Kooda trade haa not materially obtain slight coacesiions upon coarse yarn ehrewd
and Ii<ht brotra
changed the paat week. There was a considerable force of sheetings,
low grade bleached goods, plaldfi, et-.. Print clotln
out i)f-towii pHckage buyers in the market, but their purwere in light demand and easier on the bwis of 33^o. for 6tx8is
chases were indivi^lually ItKhtaad only moJerite in the nnnreand 8 510o for 56x60s, at which tliures the market cloied flrin.
Kate, operations in both seas'^naMe goods and fall fahrica
Stocks lasc Saturday and for the tliriie previous years ware as
bavin); been appart-ntly xau^ed by pressing requirements.
follows:
'Ojmmiasion merohints and importers continued to charge up
18?8.
1887.
1890.
1 8815.
and make liberal deliveriej of autumn goods on account of
Slork or Vi-lnl Ololht—
July ai. Jail) 23. Jul II 24. Julll 2S.
I>.v
Proviiinncft
l.'^e.'ltO
(IS,
iiiuiiiif'ri!,,
IIpM
0.000
000
4l^,o<K>
former transactions, an I tha movonaent in this connection was
:trt.0ii0
Full llivor niiiniifiictiirors
20.000 14!».000
.3-)S.')00
of good proportions. The jobbing trade ia the regular way
Pro vi le lice spec itlu tor.i
None.
72,000 i'2:<,om» 320,000
"was ceasonably quiet, but a very fair pickay^e business wai
7.'>,000
OiitsUlo speculators (est.)
7,500
2.1,000
300,000
done by some of the large j >bber8 who cater Tir the wants of
Total stock (pieces)
33,500 452,000 252,000 1,450,000
small wholeea'e buyers and large retailers. Accounts from
Prints and ginghams were in light demand, but there was a
the interior markets continue s itisfa^tory, the jibbin? trade
having already started up in somi sections under very encour- very fair movement in these goods on account of former
aging auspices, beoiuee of generally favor+ble reports con- orders. Printed sateens, lawn^, batistes, Sci., were in fair
cerning the crops. Tiie failura of ttie large retail hnu^o of L. request fit this sta3:e of tha season, and leading mikes
M. Bates &C\, with liibilities approiimating $3)0.01)0, was remain steady in prici.
Domestic
,len Goods were more active in movement
an event of the week but the su^pensi )a of the firm was not
a surprise to well-posted
rchants— the concern having been that? demand, very fair deliveries of heavy clothing woolens,
financially embarrassed for 8)m=) time pist.
cloakings, flinnels, dress go^ds, Kentucky j'^aos, &?., hiving
Domestic Cotton Goods— The exports of cotton goods been made by the commission homes ot account of former
from this port for the week eniing July 34 were 1.861 pack- transactioa?, while new business in this connection was comages, valued at |!137,6S5. These shipin«nt8 include 99:J to South paratively light. Spring-weight cissimere^, 8uiting4, coatAmerica SoO to China 2i2 to the West ladies 117 to Great ing-', &c., are now displayed in variety by the mill agents,
Britain 59 to Mexico 58 to Central America 23 to Europe, and at relatively low prices, but clothiers have thus far maniand 16 to all other countries. Since the Ist of January the ex- fested gre it caution ia their operations, despite the general
ports aggregate 89,297 packages, value 1 at $5,335,584. Of this impression that there will be no legislation upon tho tari£f
total Shina has had 34,967 packages, valued at |1, 763,383, and this year. Sitinets ruled quiet ia first hinds, and there was a
19,577 packages, valued at $1,354,835, have gone to South moderate business in Jersey cloths and stockinets. All-wool
America. For the same period of 1837 the exports to all and worsted dress goods continued to move steadily, as the
ports were 113,364 packages, valued at $6,698,990, of which result of current trinsactioas and in exacution of back orders,
•60,080 packages, valued at $3,84J,926, went to China, and 31,937 and there was a moderately increased b'lainess in shawls, skirts,
package", valued at $1,571,448, to South America. To the wool hosiery and knit underwear, while carpets were more or
•same time in 13-^6 the toial shioments reached 128,931 pack- less quiet in first hands.
^ages, and in 1885 were 103,839 packagts.
Foreign Dry Goods.— The situation in the market for
As a whole the
demand for staple cotton goods was light and disappointing, foreign dry goods is practically unchanged. Far seasonable
but the commission houses continued to make very fair deliv- goods there was a light hand-to-mouth demand by jobbjra
eries on account of back orders.
Brown sheetings were in and retailers, and but little business was transacted in fall
moderate requ' «t by jobbers and converters, but the export fabrics, asid«! from making deliveries of certain specialties on
was almost nominal, owing partly to the glutted con- account of orders placed with importers some time ago.
•dition of the China market at present. Drills were in fair Prices of the most staple fabric) remain steady, and stocks of
request by exporters and the home trade, and th^re was a summer goods of a tansy character have been reduced to a
light hand to-mouth demand for bleached goods, wide sheet- low pciut by importers and jobbers.
THE DRY GOODS TRADE.
I
Wo
;
m
;
;
;
;
;
;
demmd
^ittmictal.
Brewster,
Cobb
&
W.
E.
Estabrook,
BANKERS,
ti: 35 CONGRESS STREET,
BOSTO!V.
-HEMBERS OF THE NEW YOSK AMD
ALSO.
-0»«lera In municipal, State, Railroad
and rnlted States Bonds.
&
Co.,
BANKEK8 AND BROKERS,
No. 63 STATE STREET,
BOSTON.
HBMBEKS OF BOSTON. NEW YORK AND
i-HILADKLPHIA STOCK KXCHANOBS.
litoeks and Honda Bonglit and Sold
In all inarketB.
&
Clark
139 South Fourth St., l*hUadcl|>hIa.
Rallroaa, Manicipal and other desirable Idtosisalo.
TransaccaKoneral baoklnR buslQeu. Allow IntorMt OD dSDUBitS.
Membora of the Philadelphia and New York Stock
i£xcbange«, and connected by priyate wire with Mew
fork.
&
G. Hopper
Co.,
BANKERS ANJi BROKERS.
38 Soath Third Street. Plilladelpbta.
Stocks and Bonds bought and suhl on commission.
Coupons and Dividends collected Uit our <;lienta
wltb-out charire. I'rivate Wire and Luiiji Distance
Telephune to r»ew York.
(Memb
ISTABLISHID
&
Whitney
UAI.TI.nORE.
(INVESTMENT and SOUTHERN SECURITDia
N. V. Corrcspondeuts— McKiM
BALiTimLORE,
FOREIGN BANKlNt}
BANKEU3 AND BKOKBRS,
Ho. S3 WEVBOSSET STREET,
'
BALTinORE,
members N.T. Stock Bxchansa
BxohanKe.
Rea
Bros.
New York and
&
Boston.
N.
439
Wood
Co.,
Street, FitUbnrif,
Pa
MBMBERS
New
W.
Harris
CBICAKU
BANKERS AND BROKEBS,
AND DKALEBS IN FOKEIQS EXCUANQB,
ITorkand Philadelphia Stock Bzcha&Kea.
PltUbOTK Patroleum. Stock and Metal ExclianKe.
Frlrate wire, to Nan York, Boston. PhUadelptaa,
Baltimore and WaaUnxton.
&
Co.,
artMIK
5'"''''o
&
Buys and
W.
&
Co.,
classes of Stockfl
securities.
Humphreys Castleman,
BBOEBR AND DEALER
IN
ALL KINDS or
SECUU1T1E.S.
gnMu
Co.,
»
sold on commission.
Georgia and Alalmnia Securliies Hpocially dealt In.
Bonds or Stocks boUKht or
Correapoudeals— Tobey & Kirk and A.L>utcubofer,
_
KlCUnONU, VIKVINIA.
Btati Bans Butu>iNa
V A.
Private wires connecting with Washington,
mora Phlladelphla.aad New York I
York.
Uafcreuces— Atlanta National Bank. Atlanta, Qa..
and Kourtii National Bank, Now York.
MERCUASTV NATIONAL BANK,
BANKERS AND BKOSEBS
RICHmON O,
all
on marketable
ATLANTA.
Sriidfor DcacrlpirveXuta.
Branch
on commlssiou
Acw York guotutions furnished by prlvvte ticker
every lifteon minutes.
New
C.
sells
lluads.
Xe^'ulijitcs loans
and BOSTON.
ot Coantiea. Clti««, Ac, of blch
sraolalt?.
SAVANNAH, Gl,,
SECURITY BROKER
uiift
BOND AND NOTE BBOKJER8,
ItlD.
A. L. Hartridge,
I<'AIKI.ET
Mo. 61 West Tbtrd Street,
CINCINNATI. OHIO
nealcra in Commercial Pajp<'r, GoTcmment and
tOtber flrst-claati Bcnda and Bccurltles and Furetgo
Private telograph wire to
WU.
H. B. Morehead
PRUVIDEX€E, R. I.
Shaw,
ERS,
Stephenson, INVESTMENT RAExchange.
Members Baltimore Stock
MOBEHBAD.
BTOCK,
&
Fisher
BUSlNE-38.
WM. CUECKLEY SHAW.
D. FlSUEU.
PA.
1871.
JOflHDA WILBOCR,
CHARLKfl 11. BHBLDON, JB
A. Jackson, Williau Binnby. Jb.
Wilbour, Jackson & Co.,
taxi
Co.
TRANSACT A OENBRAL DOMESTIC AND
^XNjAuiy
H. B.
Bhotheks &
Robert Garrett & Sons,
BANKERS,
Ne. 7 SOUTH s TREET,
FOURTH AVENUE.
Oldest Plttsburfth
and informatloa
ulslied.
BANKERS AND BROKBRS,
No. 6T
of Baltimore Stock ExchaDge),
a specialty.)
C<>rro:jpundence solicited
BiCUARD
PITTSBURGH,
Co.,
BANKERS AND BROKERS,
No.
ment Securities for
&
Wilson, Colston
Co.,
BANKBU8 AND BROKERS,
Wm.
BOSTON 8IOCK EXCHANGES.
Irving A. Evans
^inaiijcinl.
^iVLKVLtiVlX.
ColleotI >ns
BaU
made on
returns.
termal prompt
"^
all
JOHN
iouM
r. QLMSti, Cash.
Soathern
TWiiita
on (Mat
„ .r« .w
... _.
BilANca.
PiMtdant.
IfaiD. a. scjxr, Viae-Fna
P.
.
IHE (mKONlCLh.
Vju iLMI.
Srust ©ompautjes.
MA!>TEn'S SALE.
THE
riRClIIT COURT OF
THE STATES
INUNITED
for the Eastern District of
Texas, at Galveston:
8.
Consolidated
Cause No. 11)8.
Is
UOCKKT.
a
hereby given that, in pursuance of
entitled ,cause,«n the
dlJ^^ enl-iid iTlJe^bo^
4th
said
undersign
deei
S'cfocViVoo'ii'. at"the front hoof
^ost Offi re BnildtnK. in the
cSuntv of
(JnlvestoiV
of the United States
Otv of Galveston
and State of
l'e.xas.
make
sale
all tlie m.irtgaged prem.lHes and
rifihts,.privi ejres,
TOiJerty real personal or mixed,
mentioned in.s^'d deG.'mSnit es and franchises
The same
sold.
cree and thereby directed to be upon the terms
sold in the manner and
it SShlic anrtion of
v«fbe
all the property and
««:mUPs ViirhtH nrivilepes, imninnities and franESlof'cvervkiuland^^^
and Western Division
Mam T.ine ViVstasMortgage
^'"' "^ an entirety
<.ne*^
^rstMortpage.
V'^'^*^'
of land
tocludinK securities whioli are thetoproceeds
the lien of the
subject
same
the
Sale" offering
thereState of Texas (Whatever may be the amonnt
the Main Une
of) on the first seventy-tive miles of
ofVad road, and also subject to the lien of sixty
for
^!'^rshlu";?toffer'for sale
thousand dollars (»Wt.(K)0. <-'f Debentures.lssued
'"the City
the purpose of building the Union Depotfl-st
offered
of fiouston. Said property so to be
division of
estern
^^
and
Line
Main
the
all
includes
y. the Main
the railway of the said Kailway Compai iending
to
I.ine commencing at Houston and e
throu n the CounRed Itiver in the State of Texas, Brazos.
Robertson,
Grimes^
Waller,
Harris,
ties of
Dallas.
FaiH Limestone. Freestone, ^avarro, Ellis.
Collin and Gravson, a distance of about three hundred and fortv-five miles, and the Western Division
to the
commencing *at Hempstead and extending
Citv of Austin, through the Counties of Wa ler,
Washington. Lee, Fayette, Bastrop and Iruvis. a
distance of about one hundred and eighteen and
m
*
each case all the
three-fourths miles, includiug
Toadwavs. superstructures, side tracks, depots,
stations, water tanks, section houses, round houses,
machine shops, terminal facilities, buildings and
lands constituting a part of said Main Line and of
said Western Division respectively, and all improvements. rolling stock, materials and other personal property belonging to said Main Line, or to
said W^estern Division respectively, and all the chartered rights, liberties, privileges, immunities and
franchises of the said Railway Companv. relating
to Baid Main Line or to said Westeni Division respectively; and also ten (10) sections of land for
«ach mile of said mainline and Western Division,
saving and excepting such portions of said lands as
have already been sold, and including all notes
«riven to secure the credit portion of the price of
land sales. Such lands so included in such sale of
said Main Line and Western Division are estimated
to amount (exclusively tif the lands pertainijig to
the Railroad) to about y,5i0,:^l3 acres. I shall accept no bid. however, for this property so tirst
offered for sale, unless said bid shall be at least the
sum of ten millions five hundred thousand dollars
<$10,50<).00(».)
2. I shall next offer
an entirety all the
for sale as one parcel and as
lands and property of every
kind and description covered by tlie Main I.,ine and
Western Division Consolidated Mortgage, which are
not subject to either the Main Line First Mortgage
or the western Division First Mortgage. The proi>-
erty so to be offered for sale includes six (0) sections
of land for each mile of said Main Line and WestDivision, saving and excepting such jmrtions of
such lands as have already been sold, atid incIvLding
all notes given to secure the credit portion of the
price of land sales, the amount of such lands so
separately ofTered being estimated at about i,007-,
6l« acres.
8. 1 shall next offer for sale all the property and
premises, rights, privileges, imnuinities jind franchises of every kind and (icscription covered hy the
em
Waco & Northwestern Frst Mortgage, dated June IC,
187», as one parcel and as an entirety, offering the
same, howt?ver. subject to said First Mortgage, but
without anv i)ersi»nal assumptiini vf the payment
said First Mortgage on the part of the purchaser.
There apiiear to have been issued under said First
Mortgage bonds to the amount of eleven hundred
and fortv Ihoti.sand dollars i*i,14u,00n), and interest
thereon Vs unpaid from tin- tirst day of July, 1H85.
The
said property so to
t<c
oiTered for sale includes
the Waco A >orthwestcrn Division of said Railway, beginning on tlie main line at the town of
Bremond.ln Uobortson County, and passing through
theC*mnlh's of Robertson, Falls and McLennan to
the town of Ross, a distance of about tlfty-cight
including
miles,
depotA,
the roadways, side-tracks,
water-tanks,
section-houses,
all
RtJitlons,
round-houses, turn-outs, rolling stock, equipments
and materials, tenements and hereditaments, rights
and franchises, and also six thousand acres of land
per mile of the completed road of said division.
saving and excepting such portions of said lands as
have already been sold, and Including all notes
riven lit secure the credit portion of the price of
f
and
number
,
CHANCERY
et als.
NOTTCB
of town lots.
,
„
B Having so offered said properties for sale sepan
arately, 1 shall then offer, as one parcel and as
or
entirety (subject to the said lien of the state
Te.\as and to the Union Depot debentures the
whole'of the properties of ov-er.v sort and description of the Houston & Texas Central Railway Coinpanv. wherever situated and of whatever sort or
nature, with the exception, however, of the railroad, lands and other property subject to the Urst
Division,
Mortgage on the Waco* Northwesternoffered
for
dated June leth, l87.<. The property so
from
Company
said
of
railroads
the
includes
sale
Houston to Denisonand from Hempstead to Ausand
tin, with the roadbeds, rights of way, buildings
improvements of every kind and description connected with the said railroads, or any part thereot,
rolling
the
and all their appurtenances, and also all
stock, equipments, miiterlal, supplies and per.simal
property of everv kiiul lU'ocured for or In any manner connected with siiid railroads or used therecin,
or any part thereof; also all the chartered riglits,
liberties, privileges, immunities and iraneiilses ol
said railroad company, of every kind and description whatsoever appertaining to said railroads;
also nil the lands which have been received froiu
the State of Texas for the construction of its said
railways mot including the lands covered by the
said First Mortgage on the said Waco & Northwestern Division), and also all other lands, town
lots or blocks and real estate or Interests in real
estate of everv kind and description, to which said
railway compiiiiv has title, claim or equitable ownership^and also all the tolls, earnings, froiiiihts, receipts and miineys of every kind and description ot
said railway company from said railways, and all
personal property, bonds, stocks, choses in actioii,
assets, accounts and claims of every kind of said
railway c<mipnny appertaining to said railways
{saving and reserving such portions of said lands
as have already been sold, but including all securities for unpaid consideration of said sales), the
amount of such lands Included in such sale being
estimated to amount, exclusive of the lands pertaining to the railways themselves to about 4,:*4o..3;-«
acres. This last property so to be offered for sale
includes all the properties offered except the property covered by the First Mortgage on the Waco
and Ntu-thwestern Division, dated Juno 16th. 18.3.
which 1 shall offer thirdly, as above stated.
If the highest bid received by me for the property
so last i.Ilered for sale, when so offered in one parcel, sliall exceed the aggregate amount of the several highest bids for the various portions ot said
property so last offered when offered separately,
then the whole so last offered will be struck off and
sold as an entirety to the person making the bid.
For further details of the respective i>roperties to
be sold, reference is hereby made to said decree and
to schedules on Hie with the Clerk of said Court at
Galvesloii. siib,ii',-t to the inspection of all intending bidders at siu'li sales.
All iif the sales above set forth are made subject
to the rigiit whicli the Court aforesaid reserves to
charge upon the said property, or any part thereof,
the payment i>f any amounts that may be found
and determined by the Court to be due and payable
by reason of intervening petitions hied in tills
cause before the date i)f said decree, and to be entitled to priority over the Mortgage debts above
referred to.
Of the purchase price bid on such sale a deposit
amounting to (me hundred thousand dollars will be
required to be paid in cash to the Commissioner at
the time of sale, and if separate bids be made and
accepted for separate portions of the property to
he sold, then the deposits so made shall not be less
than seventv-tlve thousand dollars on the purchase
of the Main Line and Western Division of the Kailwav and their api)Urtenances, and twenty-live
tlunisaiid dollars on inirchase of any other portion.
In addition to such deposits, such further portions
of the purchase price shall be paid in cash and
deposited as the Court may from time to lime direct, the Court In the decree reserving the right
to re-sell said property or any part sold separately,
on the failure of the purchaser thereof to comply,
within twenty days, with any in-der of the Court in
that regard. In case of any re-sale on the lailureof
the purchaser to comply with the terms of the bid or
the orders of the Court relative to such additional
partial payments as may from time to time be directed, all sums paid by such purchaser shall be
forfeited as a penalty for such mui-compliance. If
anv .sale for which a deposit is made bemdcontiriiied by the Court, such deposit shall be returned
t<i the bidder.
Any further amounts to be paid on
the purcliase of all, or any part, of the projierty
may be paid either in cash or in bonds and overdue
coupons belonging thereto, secured by the Mortgages of the Hfnistoii Sl Texas Central Kailway
Company, or any of tliera, the same being received
at such price or value as would be equivalent to the
distributive amount that the ludders thereof would
be entitled to rei-olve in case the entire amount of
the bid were paid in cash.
AVllhin twenty days Irom the confirmation of the
said sale or sales, the purchaser or purchasers of
said property is or are to deposit the amount of his
or their respective bids in the Central Trust Company of the City of >'ew York to tlie credit of the
Master Commissioner appointed to sell said property, whereupon the said puri-haser or tmrchasers
is or are to be entitled to receive pussession of the
property so purchased by them from the joint Keceivers, who are thereupon to make delivery of the
also a large
BASTON and JAMES
RINTOUL, Trustees, and THE
FARMKlfe' LOAN * TRUST
COMPANY, Trustee,
aRaiust
CEN«rHK HOUSTON & TEXAS
TRA!. RAILWAY COMPANY,
KKLSON
Division Consolidated Mortgage,
as
saving and excepting such portions of sjiid lands
all notes
have already been sold, and including
tlie price of
portion
of
credit
the
secure
to
given
is
fand sales. The property so to be offered for siile
estimated to include about 15,6ia acres of land and
A Northwestern
same.
CHARLBSrOILLINGHAM.
sales.
Special Master Commissioner.
The amount
of said lands Included in such sale of
said Waco & Northwestern Division (exclu.slve of
the lands pertaining to the railroad), is estimated at
about
Ji77.*/00
acres.
shall next offer for sale, as one parcel and as
entirety, all the lands and nrojiertv of every
I^inauctal.
4. 1
an
kind and description covered by tiie Waco A Northwestern Con.solidated Mortgage, which are not subject to the Waco & Northwestern First Mortgage.
The
proiH^rt y so offerol lnclud<'s
about
thou«and two liundred and forty acres of land per mile
of said Waco A Nrirthwestern Division, saving and
at
said lands as have alexcepting such portions
ready been sold, and inetuding all notes given to
secure the credit portion of the i>rice of land sales,
the amount of such lands so separately offered being estimated at atiout nd.WW acres.
sale, as one parcel and as
fi. I shall next (tlTer for
mn entirety, all the lands and property <if every
kind and description covered by the Income and
Indemnity Mortgage, and the General Mortgage, or
either "f jbem. which are not subject to either the
Main l<liH' First Mnrtgage. or the Western Division
First Mortgage, it the \Vaco A NorlhwRsterii Division First M.Migiige. or the Main I^itieand Western
Blvislou Cou^iuUdated ..MorttcaKe, ur the Wueu
ff)ur
STOCKS
and
BAI£B,
BONDS
of all olaaaes ol
BONDS
ON
No.
1
II.
raVLLER
CAFITAI.,
NirRPL,ii!«,
St.,
N.Y.
¥1,000,000
3,000,000
Authorised to act as Executor. Administrator
Guardian, Ueeeiver. or Trustee, and is
A LEGAL DEPOSITORY FOR MONEY.
Accepts the transfer agency and registry of stocka,
and acts as Trustee ot mortgages of corporations.
Allows interest on deposits, which may be made
at any time, and withdrawn on five days' notice,
with interest for the whole time they remain with
the company.
For the convenience of depositors this company
also opens current accounts subject. In accordance
with Its rules, to check at sight, and allows Interest
upon tlie resulting dally balances. Such checks pass
through the Clearing Ilouse.
Wm. Whitewright,
TRUSTEES:
James M. McLean,
Ambrose C. KingslanclJ
James U. 'gllvle,
Henry A. Kent,
K. T. Wilson,
Wm. F. Russell.
C. IJ. Wood,
James N. Piatt,
I). C. Hays
'
S. T. Kairchild.
H. Frothingliam,
George A. Jarvis,
I.
C. Vanderbllt,
A. A. Low,
G. G. Williams,
R. G. Remsen.
Wm. Alex. Duer,
Charles H. Leland.
Kdward King.
Edward Soh^ll.
Amasa J. Parker,
K. B. Wesley.
D. H. McAlnin,
Samuel F. Barger.
Geo. *'. Magouri,
Cliauncey M. Depew,
U.Vau Rennsei'r Kennedy.W. Emlen UooseveliJ
George B.
Carliart,
EXECUTIVE COMMITTEE:
Wm. Whitewright,
G. G. Willianis,
James McLean,
E.
B Wesley,
C.
I).
Geo. C. Magoun,
D. C.
Wood.
A. C. Kingsland.
Hays,
EDWARD
KING.
President.
JAMES M. MCLEAN, First Vice-Pres't.
JAMES II. HGILVIB, Second Vice-PrestA. O. RONALDSON. Secretaiy.
A. W. KKLLEi Assistant Secretary.
.
United States Trust Co.
OF NEW YORK,
WALL STREET.
AND SURPLUS, - «r,000,00»
No. 49
CAPITAL,
This company
a legal depository for moneys
is authorized to act as guardian
la
paid into court, and
>r trustee.
_.
INTEREST ALLOWED ON DEPOSITS,
which
may be made
any time and withdrawn
at
afterfive days' notice, and will be entitled to intereat for the whole time they may remain with the
Oiirapany.
Executors, administrators, or trustees of estates,
and females unaccustomed to the transaction ox
business, as well as religious and benevolent Institutions, will find this company a convenient depository for money.
JOHN A. STEWART. President,
QEORGK BLISS. Vice-President.
J AMK8 s. CI.aRK. second Vioe-Prest.
TItVSTEES!
Wm. Llbbey.
Isaac N. Phelps, John C. Brown,
Krsstus Cornnig, Kd ward {'ooper,
Wilson G. Hunt. H. E. Lawrence.
Clinton Gilbert.
Daniel D. Lord,
Samuel Sloan,
S. B.t:bitteiulen.
W.H'y'rdCutting
Johnll.ltho.ides. Cbas. S. Smith,
Anson P. St. ikes. Wm. Rockefeller,
D. Willis James.. Root. H. Ml, turn. Ah-x. K. Orr,
(ieo. II. Warren., VVm.H.Macy.Jr.,
John J, Aslor,
James Low,
Wm.W.Phelps,
John A.Stewart, George
Charles E.
Bliss,
Bill,
Wm. D. Shtane.
THORNELL, Secretary.
HAMPTON,
Asolstant Secretary.
LOUIS G
HENRY
L.
.
American Loan & Trust Co.,
113 BROADWAY, NEW YORK,
$1,000,000
capital, Fully Paid,
THIS [COMPANY TRANSACTS A GENKRAl,
LOAN, TRUST * FINANCIAL BUSINESS.
Receives money on Deposit, subject to check, and
allows Interest on balances.
All Checks pass through the Clearing House.
Makes Investments of. Money, acts as Executor.
Administrator, Guardian, Trustee, etc.
Also, as Registrar and Transfer Agent.
An authorized Depository for Court and CountJ
Treasurers' Funds.
BALDWIN.
O. D.
President.
Vice-Presidont.
GEO. A. EVANS.
S.THURSTON,
J.
Sec.
&Treaa.
DISECTOH8
John L. Macaulay.
Rowland N. Hazard,
George S. Hart,
Alexander O. Black,
Wallace C. Andrews,
John 1. Blair,
Jules Aldige,
John D. Kimmcy,
'"h;i Hess,
CnTi^s Parsons,
George A. Evans.
Granville P. llawes.
James
S. Thurston,
Bei.Jamln F.Tracy,
John
Ihos.
S. silver,
K.
(ioodrloh,
Payson
Merrill,
John
Townsend,
Herman Clark.
Thomas C. I'latt,
P.
O. D, BalawlQ.
37 Wall Street,
PAID.rP CAPITAI.,
Designated
New Vork.
-
-
»I,000,000
cgal depository by order of
Receive deposits of money on
as a
Supreme Court.
ir transfer agent, or trustee
corporations, and accept and execute any legal
trusts trom persons or corporal Ions, on as favorable
terms as other similar companies.
'IIIOMAS lUI.l.llDl.Sli:, President,
interest, act as fiscal
fo'-
WBDNKt-DATB AND BATUBDATB.
ADRIAN
...
...
3 Broadway, cor. Rector
Metropolitan Trust Co.,
HEOULAR AUCTIO^
kToCIiS AND
NEW YORK.
OF
7
William P. Anderson,
At Auction.
Die I'Dderslfnied liold
Union Trust Company
A.
Sn\
P1^E STREET. NEW YOKE.
niKliKHlc
I
llAltLES
I).
.M.
'lAPl'KN, Vice-President,
JESLl', Secretary.^
@FedFRASER