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HUNT'S
MERCHANTS’
MAGAZINE,
INTERESTS OP THE UNITED STATES,
REPRESENTING THE INDUSTRIAL AND COMMERCIAL
NO. 1,150.
SATURDAY, JULY 9, 1887.
VOL. 45.
Six months.
June.
TJxe Ctawtclc.
1886.
1887.
18S6.
1887.
P.Ct.
P.Ct.
$
Subscription—Payable in Advance
Terms of
:
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For One Year (including postage)
For Six Moutlis
do.
6 10
li 28
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Annual subscription in London (including postage)
Six Mos.
do
do
do
include the Investors’ Supplement, of
These prices
months, and furnished without extra
subscribers of the Chronicle.
Issued once in two
WILLIAM B. DANA.
JOHN G. FL01D.
120 pages
charge to
(WILLIAH n. DANA & Co., Publishers,
102 William Street, NE\? YORK,
<
Post Office Box 953.
f
CLEARING
Tot. N. Eng,
438,532,214
387,091,446 + 13+
2.543,030,220 2,200,940,172 +125
Philadelphia.,
301,559,086
1,592,769,246
245,721,571
60,104,418
236,096,939 + 27-7
31+59.791 +311
49,020,217 +22-7
403,493,340
316,976,947 +27-3
1,852,737,793 +17-8
231,845.733 +22-8
1,195, ,166,877 +-188
210, 977,400 +21-5
89, 160,631 +251
70, 181,115 + 20-6
30, 155,816 + 40-6.
57, 509,693 +S9-2
43, ,207,902 +24-3
17, ,770,332 +52*1
38, 140.985 + S4*7
6f, 298,553 -t-21‘4
40, 171,442 +42 9
63, 077,351 +54-1
9, 802,903 +28-7
8, 470,003 26S-2
New Haven..,
Portland
Worcester
Springfield
Lowell
....
11,7^8,036
Pittsburg
Tot.Middle..
281.724,575
Chicago
period of 1886 there is a gain of 24T per cent in the whole
country, and outside of New York the increase reaches 15 * 1
The most notable improvement over last year is at
per cent.
Omaha, 63*3 per cent.
1.887.
1880.
1
$
873,644,328 [
!
New Vork
Sales of—
shares.)
(Stocks
1Cotton
bales.)
bushels.)
bbls.)
(Grain
(Petroleum
(1,932,888)
(532,600)
(27,976,300)
(12,060,000)1
9 >.766,469
Boston
Providence
Hartford
New Haven
Portland
Worcester
5,003,800
2,867,9(5
1,401,473
1,04+465
900.5ul
1,082,797
534,142
Springfield
Lowell
112,605,592
Total New England...
-
9,424,928
14,466,939
0,4 52,803
4,809,172
Indianapolis...
Cleveland
Columbus
Peoria
Omaha
13,549,359!
10,7:0,952
10,123,213
Minneapolis...
Denver
St. Paul
Grand Rapids.
Wichita....
Total Middle
Chicago
*
680,260,025
+ 23-4
!
18S7.
P. Cent.
$
045,421,554
+05
00,< 55,324
4,413.600
2,298,875
1,360,736
874,487 1
1,171,018 (
1,076,729 1
548.886
102,609,655 j
+9-7
+13-4
+24-8
-t-29
+19'9
—23-1
+0-6
-2-7
-2-2)
(1,818,3681
(810,000) (+1H9-0)
(61,276,900) ( + 69-8)
(8,488,000) (--84-8)
88,949,451
4,850,600
+123
+33-2
+ 2-2
+30-1
+26-5
1,473,786
1,314,675
1,054,3.82
997+12
931,452
646,011 |
+90
100,218,169
+13-7
+17-5
+21-2
103,015,031
80,127,022
+19-6
90,791,398
+25-4
63,377.436
56,209,001
+ 12-8
60,761,880
+31-3
+42-2
10,812,0001
4,010,047
—8-7
+39-5
9,323,550
5+76,411
—2-6
+59-6
3 556 3J 1
i‘5
3 605 003
Indianapolis
8 r,Ov> 659
]
>26’0H6
1,354+13
3.286.02S
2.384,723
L90L747
3,249,486
2.145,220'
1.575.651
+42-2
+ 37'8
+30-1
+29*4
+63-3
+ 5-6
+18-2
+£9'9
+23 5
j-3>0
1-71-0
2,158,832
4,027,778
521,071
+520
788,438
Minneapolis
3.468,760
1,828,664
4,220.832]
472,5 0
...„
Denver
St. Paul
Grand Rapids
W’chita
790,285
1,546,863
2,>>38,921
382,726
519,917
-
H(-37-7
2,230.929
-
944,750
2,884,97h
-
-4+1
u41"0
-1 -511
3,165,125
-854
-45-9
-520
-24’4
H -493
-
-
Total Western....
St. Louis
St. Joseph
New Orleans
Louisville
s
*
1,004,824!
878,0621
583.647
89,120,814
j
+313
+42-0
17,857,714
1.403,637
6,008,696
4,630,510
8,078,534
—19-7
1,076,679
911.183
-36
518.212
+12-6
911,365
565,207
+31-1
+11-5
+63-5
+17-7
+40-4
+11-8
35,822,968
+9-2
40,022,842
+34-7
+43-8
13,663,988
+ 33-7
1.251,760,707 1.008,935,003
+24 1
992,466,436
4-7-8
328.(574.978
+ 15-0
347.014.8,S2
-*-24‘7
378.1:22,379
exchanges for the month of Jun^ exhibit a
heavy gain over those for May, the increase at New York
being $174,653,538, and in the balance of the count? y $07,411,873.
Contrasted with June of last year there is an excess in i
the aggregate of 131 per cent and for the six months the I
gain reaches 10-8 per cent,
.
I
70.402,882!
80.455,220
57,409,755
97.219,912
12.018,452
31,208,037
2,4 69,9; >9,331
1,970,103,003+25 0
62.760,710!+20-8
440,642,676
35,682,3 • 1.
381,583,383 +15-5
214,241,252
197.018.902
20,087,752.+19-1
137,358,614
24.903,4411
-t 50-4
4,784.293 +10-0
3.501,42U + 127
200,859,680
51,204,310
26.287.3s9
115,660,420 +18'8
13l.0ol.929 452-6
39.723.928 428 9
2,328,834! ->-L-8
17,547,035
j 147,817,804'-+2 i-7
1,123,823,326
23,920)072
37.344,: 05
5,579.985
4,014,834
2,370,970'
Galveston
Norfulk
181,314,204
75.497,413:
San Francisco.
4,408.303 -j-50
24,803,500! +1-8
21,748,651 +e4*l
30,864.105 -14-8
17,873,775 —1-9
~930,081,153
+20-1
281.003,897 433 5
375,171,981
51,871,909'+ 455
4 8*7
4,541,691,331|4,014,080,056'+13*1 25,756,214,298|23,398.444,607i+lO-S
Total all
Outside N.
Y.| 1.576,269,400* 1.270.917,154' +23 31 8,694,814,21(i|
Six
7,300.860,018 +19 0
Description.
Stock
Actual
Value.
Quantity
45,525,142
#4023529200
{
RR. bonds...
Gov’t bonds.
State bonds.
Bank stocks.
$4,647,950
$1,201,650
Aver'qe
Price.
(
Actual
Aver'gc
Quantity'
Value.
Price.
Par
or
Value
\
j 2403174051
$234,205,910 $195,318,528
$12,905,200
Six months, 1886.
months, 1887.
Par Value
59 7
83-4
j* M3o!.®2Tii 3018081019
$5,56-4.074 1197
$4,487,181 34-8
$1,483,556 123‘5
$320,457,700 $275,420,238
$7,277,000
$8,759,421
$8,094.498j
$3,141+82
$874,628
$769,305'
70-1
85-9
120-4
38*8
113*7
$4276489910 $2610027390! 6P0
#4641458,430 $3305277,588 71-2
Petr’l’m.bbls 576.423,000 $375,038,106 65 1-13- $1332.263,000 #1020989,042 771-10e
Cotton.bales
13,664,700 $703,196,365 $51-46
12,061.000 $559,457,240 $4038
Grain...bush 1059,197,105 $926,901,286 87^0.
815,507,524 $682,184,801 »3%C.
Total
...
Total value
$5573908,671
$1615163207
We give below our usual estimate for the week
0 based on the five-day telegraph returns, and it
increase compared with 1880 of 9*5 per cent.
Returns by
ending July
indicates ail
Week End’g July 2.
Week Ending July 9.
Tdcgraph.
1887.
1886.
P. Cent.
P. Cent.
1887.
..
■
j
New York
Sales of Stock (shares)....
$
443,087,505
Boston
(720,093)
58,694,406
Philadelphia
48,893,950
Baltimore
Chicago
St. Louis
New Orleans
Not included in totals.,
The returns of
44,212,131
80,072,101'
53,706,579!
27,030,188
376,159,O48|+20-9|
+ 32-8
+54-8
.13,121,646
18,873,358;
I
-22-2
8-8-3!
5,482.401
5,719,159
1,250,651
Memphis
Outside New York
+7-2
+250
•5,014,500
5,924,942
Galveston
Total all
15.369,899
956,963
16,474,664
1,201,625
4.927,313
Norfolk
San Francisco....
101,749,085
90,903,087
8,121,737:
Total Southern
+15'0
104,501,584
91,901,890!
5,533,756 +70-3
10,531,024 + 37-4
7.300.833 +295
3.243,832 -+ 48-3
8,191.327 + 05'4
12,484.979+34-6
7,106.<‘n7
42-5
11.8-.3,9l8;+f5 5
-
•
294,562
377,363
1,419,365.519
292,816,050 i
111,513,019
-
Duluth*
Topeka*
841,298,538
477,432,235'
75,821,594
0,735,182
or
9,861,200
5,597,552
787,098
10.r 61,578 +44-8
13.362,5-2 t-‘-7"5
1.365.540,888 +10 6
191,907,053 +28 0
295,282,952 +16-6
2,507,270 +51-3
25,3vU262|
834-0
Cincinnati
Milwaukee
1,840.060
3.281,351
14,700,091;
22,180,144 +38
20,959,423 +119
20,062.795 +28 2
12,705,220 +15 2
Our compilation embracing operations on
the various New
-+40-5 York exchanges
now covers six months of 1887 and 188C :
+22'7
3,0"5,054j
+ 15%
.
+17-7
12,995,2821
1.018,682
+ 11-1
+ 31-6
1.909.229 -i-26‘8
New Orleans..
Louisville
Kansas City...
+27-8
-+32-2
Cleveland
Columbus
Peoria
Omaha
31,393.7.18
‘23,024,558
23,452,050
25,723,f.05i
-+13-0
3,883,549'
St. Louis
St. Joseph
Tot. South...
107,259.5(H) +103
43,174,944 +2-1
27,761,304 +13-1
2,120,8451
Memphis
(1.155,090) (+67-3)
(:iS5,00O)i (+38-1)
(26.448,000)
(+5'8
(49,933,000) (-75-8)
65,281,664
7,850,676
10,376,733
15,917,378
Baltimore
}p. Cent j
+4‘2
+ 15-6
.
18,433,592
Tot. West.
EneVg June 25.
66,847,918
9,546,297
14,397,183
76,690,920
Philadelphia
Pittsburg
Week
2.
i-14" <
43,717,000 +10-7
Cincinnati
Milwaukee....
Detroit
...
Week Ending July
2.262,375,050
118,273,700
44,081,522
343,261,748
18,333,51 >(
0,903.40
4,891,758
3,885,48
3,620,862
8.878,426
2,316,258
Providence...
Baltimore
The aggregate of exchanges for the week ending July 2 re¬
cords an increase over any similar period in the current year
and has been exceeded only twice since we began the compil¬
ation of these returns.- Compared with the corresponding
+13-2
+60
2,006,776,836 +12*7
388.527,068
2 >.938.800
7,194.059
5,056,018
4,418.522
4,022,485
5.105,245
2,674,017
Boston
Hartford..:..,
RETURNS.
HOUSE
+8-5 17,061,400,082 16,091,578,589
2,734,162,90k
New York.
Total, 5 days.
Estimated 1 day
Total full week
Balance
Country*
Total week, all
*
#
431,695,455
(975,678)
+2-6
(-26 1)
$
672,818,126
(1,771,708)
76,853,669
59,285,631
'
+20-8
(^-TS-e)
59,005,582'
-15
+27-0
S.84+084
.42,033,696
13,411,815
4,454,704
38,495,962
9,277,973
38,0 i 0,000
13,014,350
5,268,602
+ 31
13,067,448
46,833,091
12,980,301
—15*4
4,029,084
+2-3
+11-0
+2P4
+3-8
+1-7
+ 8-3
019,424.310
104,386,202
595,967,984
132,0 2,020
+3-9
+239
885,367,410
262,142,104
+ 169
+ 54-9
7S3,810.512
93,407,462
728,580,004
72,791,972
+ 76 1,147,509,514
104,268,107
+28-4
+ 23'8
+26-8
877,277,994
801,371,970
+ 95 1,251.777,621
For the full week, baaed on
-4-0
+8-9
last week’s returns.
-
+ 24-
THE
36
OHKONIOLE.
THE FINANCIAL SITUATION.
The
tendency of the money market the past week has
ease.
As represented by bankers
balances, the extremes for call money have been 10 and 3
per cent, with the average about 6 [per cent; renewals
were made at the same figures, but not until W ednesday*
The indications now point to easier money on call.
This
is made probable from the fact that the July disburse¬
ments have been well distributed, that Government pay¬
ments promise to be large, and that money sent West on
the failure of the Fidelity Bank is likely in part at
Time loans are in
least
soon
to
return.
good
demand
at
6
per
cent for 30 to 60 days on
prime collateral. Miscellaneous collaterals are generally
rejected, and so far as loans are made on them the,rates
are not quoted.
Commercial paper meets with little or no
inquiry from city banks, and not much disposition is man
ifested by out-of-town institutions to buy.
Tne failure in
the dry goods trade this week has made purchasers more
cautious, a closer scrutiny of names being very apparent.
The cable reports a reduction this week in the rate of
discount in the open market at London for 6 0-day to 3months’ bills to li@lf per cent, and no change in the
Bank of England minimum, although the proportion of
reserve to liabilities has fallen to about 38| per cent,,
against 43 p3r cent last week.
The open market
rate at Berlin has dropped nearly 1 per cent,' or to If to
2 per cent, against 2J to 2f percent last week. At Paris
the open market rate remains at 2f per cent.
The fall in
been towards increased
the rate at Berlin is doubtless due to the fact that the sub-
scriptions to the new loan of 100 million marks ware
closed on Tnursday.
The loan was a brilliant success,
the subscriptions reaching 700 millions, of which 400
millions are reported to have come from Berlin alone.
The Bank of England has lost £747,000 bullion this
week. A special cable to us states that this has been made
up by an import from South America of £18,000, by
shipments to the interior of Great Britain of £376,000,
and by an export of £389,000, the larger part of which
was
to South America.
Our
foreign exchange market has been dull and almost
without feature this week until towards the close, when
with easier money here there was a slight upward tendency. No change in nominal quotations has been made,
but for actual business there was a little narrower margin
between the bid and asking price for sterling.
Of the
$1,250,000 of gold reported by us afloat for New York
last Friday, $100,280 75 arrived early this week and
$800,000 more came in on the Trave yesterday. All of
the
remainder .ought
to be here by the coming
Tuesday. It is stated that a new customs regulation
with regard to the imports of gold is likely to cause much
annoyance.
The objectionable feature is a requirement
that packages must be opened in presence of a United
States appraiser, the object as stated being to prevent
smuggling. As the appraiser cannot always be promptly
secured, delay is feared as the result of the regulation,
and in case of a large shipment this might prove quite
embarrassing. Bankers very reasonably ask why the
same object could not just as well be attained
by author¬
izing the officials at the Assay Office—whither foreign gold
is almost invariably sent—to examine the packages.
With regard to general business, very little change is to
be noted from week to week.
Transactions are large, but
in most industries competition is close and profits small.
There has been of late weeks in many departments of trade
either a decline in prices or at least an easier tendency,
due very likely to the greater caution in banking circles
since
[VOL. XLV.
the
collapse of the wheat corner and the disclosure
regard to the Fidelity Bank. An event of the week
has been the failure of an old, conservative dry goods firm
in this city, before referred to.
This incident has been
accorded much more prominence as an indication of
the state of the trade than it deserves; its import¬
ance grew
out of the fact that the paper of the
firm had stood high, and hence the failure was more
talked about and disturbing than it otherwise would
have been.
That there continues to be great activity in
exchanges is indicated in no way more truly than in our
monthly Clearing House returns. Tne weekly statements
represent the situation in part, but the monthly compila.
tions make a more graphic presentation of the facts.
The
following are the figures for June and for the six
with
months.
MONTHLY CLEARINGS.
*
Clearings, Total All.
Clearings Outside New York.
Month.
1887.
March
Total
*
4,143,139,849
4,370.822,843
3,695,294,565
4,335,761,64?
January....
February...
P. Ct.
1880.
3,848,019,<32
4,172,010,767
1837.
$
1,408,130,783
1,222,010,794
1,499,393,166
+5*5
—4*0
+3*9
12,401,879,053 12,103,709,648 +2 0
4,513,017.992 3,010,313,301 +25*0
4,299,625,922 3,010,281,542 +19 1
April
May
4,511,691,331
June
1886.
.
P. Ct.
$
1,267,610,9541+11-1
1,102,511,2911+10*8
1.267,534,325;+18*3
4,129,540,743 3,037,050,570;+13*5
1,430,146.532 1,189,333,413+24*5
1,503,857,535 1,199,953,881‘+25*7
1,576,269,400 4,279,917,154j +23* 2
4,014,0S0,056j +13*1
Total...... 13,354,333,245 11,234,674,959 4-18*9
4.565,273,473
3,069,209,448j+24*4
23,393,444,607'1-10-S
8,694,814,210
7,3O0,800.O18!+19*O
0 months
.
23,75(5,211,*293
What could show
in the
months
more
absolutely than the above, that
of very
named' transactions have been
large volume. In fact, June’s totalis the largest of the
year so far, and although there was a very considerable
increase last year in the same month, the growth now is
over 13 per cent more, while for the last three months the
aggregate is nearly 19 per cent larger than in 1886. It is
interesting to note how this total compares with other
years, and also what the growth has been at different
centres of trade.
For that purpose we have prepared the
following, covering the years since 1880. As six ciphers
are omitted,
the full face type expresses thousands of
millions.
EXCHANGES FOR SIX MONTHS, JANUARY
1 TO JULY 1, 1880 TO 1887.
.
(OOO.OOOs omitted
New
York
Boston
Philadelphia
Baltimore
1887.
1886.
1885.
18S4.
1883.
$
*
ias*2.
1880.
1881..
*
*
$
$
$
$
17+61 16,092 11,880117,854 18,704 22,799 26,077! 19,260
2,262
1,809 2,124
1,648
2,007 1,605 1,004 1,785
1,095 1,368 1,391
1,370 1,300 1,222
1,593 1,365
344
295
•295
323
337
314
324
358
920
785
385
345
-
1,419
1,195
1,069
1,161
1,231
1,083
St. Louis
441
382
370
413
437
418
New Orleans
214
197
189
252
271
253
259
255
San Francisco
375
281
274
268
281
299
202
228
Chicago
•
‘
_
Total
Other cities
23,709 21,814 16,783 23,303 21,440 28,361 31,745 21,003
769
970
‘*,047
1,584 1,289 1,408: 1 ,ojo 1.142
•
*
Total all
25,750 23,393 18,6 <2 21,711 23,656 29,503 32,721 24,832
6,953
6,70 4
6,647
5,566
8,695
7,300
6,186
6,857
N.Y. clearings, less
2+ times st’ek sales 1 1,053
8,551
6,523
9,040’11,217 12,775 .11,315 12,302
Outside New York.
A feature
brought out by the foregoing-is, as will be
noticed, that the chief increase is outside of New York.
New York has increased materially as compared with
1885, but only moderately as compared with 1886, whereas,
compared with 1884 and previous years, transactions are
now very much less.
This is in good part explained by
line
the
the last
in
foregoing table, which shows that out¬
side of the Stock Exchange there has been a large
growth in the total transactions over previous years
back to 1883.
But on the other hand, Boston, Philadel¬
phia, Chicago, and nearly all Western cities, exhibit the
largest aggregates ever reported. We now add the
figures showing the sales at the New York Stock
Exchange for the last two years. We have no room to¬
day for further comment upon them.
July 9,
THE
1887.J
CHRONICLE.
“
from
37
competitive point is always carried under
“substantially dissimilar circumstances and conditions
1887.
1880.
from that carried to or from non-competitive points. In
Values.
Values.
Month. Number
Number
the latter case the railway makes its own rates.
of Shares.
of Shares.
In the
Par.
Actual.
Par.
Actual.
former
case
the
circumstances
are
t
1
altogether different.
$
$
414,449,380
Jon.... 5,147,127 712,998,400
8,072,154 790,083,975 570,301,097
The power of a corporation to make its own rates is
Feb.... 7,214,112
037,098,950 372,351,431
0,410,897 818,717,825 587,409,315
March. 7,147,305
limited to the necessities of the situation.
040,985,850 379,092,507 10,152,078 853,773,952 008,511,278
Competition
Total 22,508,544 1,997,083,200 1,100,490,378 28,235,129 2,403,175,752 1,760,342,290
controls the charge.
It must take what it can get, or,
804,299,750 472,410,410
April.. 9,467,079
0,410,551 584,167,700 370.702,373
as
said
in
ex
was
003,803,800 371,187,053
May... 0,500,087
0,039,303 603.092,350 422,790,920
parte Koehler, abandon the field and
June... 0,988,832
017,742,450 393,074.204
7,111,197 654,423.225 452,180,030
let its trade go to rust.”
As sustaining this opinion,
Total
23,010,598|2,025,840,000 1,230,077,073 20,101,051 1,841,683,2 <5 j 1,251,739,329 reference is made to the decision of the U. S. Supreme
0
45,525,142'4,023,529,200 2.403,174,051 48,390,180l4.304,859,027 3,018.081,019
Court (117 U. S., 355), where it was held that “the
Returns of-railroad earnings still continue very satisfac¬
service rendered by a railway company in transporting
tory. We defer publishing our regular monthly statement
local passengers from one point on its line to another is
till next week, so as to make it more complete, but we
‘‘not identical with the service rendered in
transporting a
already have enough roads to indicate that the June
‘‘through passenger over the same rails.” Judge Deady’s
exhibit, like the exhibits of the months preceding, will be
views certainly have the merit of common sense, and if
very favorable.
Footing the figures for the 71 roads that
sustained, the fourth clause, which was to accomplish
have furnished returns, we find that they show aggregate
wonders in revolutionizing railroad methods, has become
earnings of $20,949,877 this year, against $18,647,367 last a
nullity. TkerpQs not a railroad in the land that cannot
year, an increase of $2,302,510, or 12^ per cent. This is a
make out a clear case of exemption from the operation of
heavy gain as it stands, but is all the more striking when the
section, for it is on competition and competition alone
we remember that we are
comparing with heavy totals in that the
present system is founded.
1886, the gain then on sixty-one roads having been
The stock market has been unsettled this week and
$2,170,708, or about 12 per cent. We have also prepared
rather weak.
No change has, however, taken place in
our usual table for the fourth week of
the month, and
the conditions affecting values.
The outlook for the
give it on another page. This does not show so large a
ratio of increase as in the earlier weeks, owing to the fact crops is satisfactory, refreshing rains having fallen in
Reports of
that earnings last year in that week were unusually large, nearly all sections where rain was needed.
excellent ; bank clearings are large,
and also to the fact that on special roads exceptional earnings continue
and generally business is good, while money is becoming
circumstances
kept
down
the
earnings
present easier.
Nevertheless, the stock market does not go up,
year.
As it is however, the ratio of increase is 12£ but on the
contrary is steadily dropping to lower figures.
per cent.
Xet earnings, too, make excellent comparisons
Operators apparently have not enough confidence in the
with last year.
Some additional exhibits have been situation or in values to induce their
engaging in an
received this week for the month of May, among them
those of the Atchison, Burlington & Quincy, Denver & attempt to advance prices, while the outside public now
and for some time past has been completely absent from
Rio Grande and Ohio ■& Mississippi, and these all show
the market.
The result is that the room traders who are
greater or larger gains. In making up our April state,
reduced to the necessity of making a living one way or
ment of the net, we found that the increase was not quite
another, finding that prices cannot be moved upward, are
up to expectations.
It is likely that in the statement for
industriously at work hammering them down. Chicago &
May the improvement will be more marked.
Northwestern was attacked on the announcement that 10
It would seem as if gradually a construction of the
millions of accumulated surplus had been charged off to
fourth section of the Inter-State Commerce Law was
equipment. As this is a mere matter of bookkeeping
being arrived at. Three weeks ago the Inter-State Com¬ and consists
simply of marking cost of equipment down
missioners laid down certain rules for the guidance of the
ten millions on one side of the account, and surplus fund
railroad companies, in which, after calling attention to the
ten millions on the other side of the account, it is difficult
fact that the prohibition of a greater charge for a short
to see why the operation should have any effect on the
than for a long haul applies only in cases where the cir¬
value of the shares.
cumstances and conditions are substantially similar, they
The following statement made up from returns collected
undertook to point out certain general cases where the
by us shows the week’s receipts and shipments of currency
circumstances and conditions might be considered disand gold by the New York banks.
similar.
This week Judge Heady, of the United States
Received by
Xet interior
Shipped by
Circuit Court at Oregon, has rendered an opinion on the
Week ending July 8, 1887.
X. r. Banks. X. Y. Hanks.
Movement.
same question
in the application of the receiver of Currency
Loss..
$513,000
$1,305,000
$852,000
the
Oregon & California road for permission to Gold
Loss.. $852,000
Total gold and legal tenders
$1, -105,000
$513,000
charge less for a long haul between San Fran¬
The above shows the actual changes in the bank hold¬
cisco and Portland than for a short haul between
local points, the existence of rail and water competition ings of gold and currency caused by this movement to
seeming to make such a course necessary. Judge Heady and from the interior. In addition to that movement the
banks have gained $4,000,000 through the operations of
had rendered much the same opinion two years
before^
when an act of the Oregon Legislature covering that point the Sub-Treasury.
Adding this item to the above, we
have
the
was under review.
following, which should indicate the total gain
His conclusions coincide with those
to
the
New
York Clearing House banks of gold and cur*
of the Inter-State Commission, only that they go much
further.
The Commissioners mentioned water
competition^ rency for the week covered by the bank statement to be
competition with foreign roads, and “ rare and peculiar issued to-day.
SALES OF STOCKS AT THE NEW YORK STOCK EXCHANGE.
•
or
a
,
-
“
■■
'*■
“
‘ *
“
-
“
“
“
“
mos..
“
“
-
.
of
competition between railroads” as instances
where
the prohibition of the fourth section does
not apply, but Judge
Deady lays down the broad
and
rule
comprehensive
that “freight carried to
cases
Week ending
July 8,1887.
Into Banks.
Out of Banks.
Net Change in
Bank Holdings.
Banks’ Interior Movement, as above
8ub-Treasury operations
Total gold and legal tenders
$513,000
Loss..
$1,305,000
$852,000
4,900,0 90 ~ Gain.. 4,000,000
8,900,000
....
$9,413,000
1
$0,265,000
Gain.. $3,148,00
0
CHRONICLE.
THE
38
England lost £747,000 bullion during the
week.
This represents £371,000 net sent abroad and
£376,000 to the interior of Great Britain. The Bank of
France lost 1,150,000 francs gold and 2,050,000 francs
silver, and the Bank of Germany, since the last report,
shows a decrease of 21,377,000 marks.
The following
indicates the amount of bullion in the principal European
banks this week and at the corresponding date last year.
The Bank of
Gold.
Germany* ....
Aust.-Hung’y
Netherlands..
Nat.Belgium*
National Italy
Total.
Gold.
£
£
*
£
France
Silver.
22,589,855
22,589,855
48,259,182 47,230,824 95,190,006
21,260,859 18,859,291 40,120,150
6.630,000 14,103,000 20,793,000
5,092,000 8,309,000 13,401,000,
3,822,000
2,548,000 1,274,000
8,119,000!
7,001,000 1,118,000
Tot. this week 113,386,896 90,954,115 204,311,011
Tot. prev.w’k. 114,753,328 9»,549,053
200.302.381
-
Total.
Silver.
£
£
21,123,894
99,055,642
35,217,000
19,843,000
14,741,000
21,123,894
54,613,830 15,041,800
19,005,010 15,551,990
6,382,000 13,461,000
6,542,000 8,199,000
2,084,000 1,342,000
7,263,000 1.493,000
4,026,000
8,756,000
118,273,740 85,088,790 203,362,530
118,948.382 85.127.534 204.075 9L6
The division (between gold and silver) given in our table of coin and
bullion in the Bank of Germany and the Bank of Belgium is made from
the best estimate we are able to obtain; in neither case is it claimed to be
accurate, as those banks make no distinction in their weekly report,
*
merely reporting the total gold and silver; but we believe the division
make is
we
a
close approximation/
Note.—We receive the above results
not all of the date given at the head
returns issutd nearest to that date—that
weekly by cable, and while
of the column, .they are the
is, the latest reported figures.
Assay Office paid $141,210 through the Sub-Treas¬
for domestic bullion during the week, and $100,281
foreign bullion, and the Assistant Treasurer received
following from the Custom House.
The
ury
for
the
Consisting of—
Duties.
Bate.
Gold.
1.
$170,747 G9
$2,500
“
2.
331,386 05
1,500
“
4.
"
5.
564,135 05
5,0O<
“
G.
717,782 80
“
7.
378,424 37
5,000
5,500
Total.
$2,462,475 96
$20,000
July
XT. S.
Gold
Silver Cer¬
Notes.
Cer Life's.
tificates.
$360,000
265,000
$18,000
26,000
76,000
439,000
43,000
71,000
583,000
5G.000
55,000
271,000
45,000
$219,000 $1,918,000
$218,000
$59,000
38,000
Hull day
Included in the above payments were
coin,
that is according to the old Treasury methods
(excluding Pacific Railroad debt, and accrued interest, and
calling fractional silver and minor coin an asset as it was
then rated)—made up in this way the total debt would
foot up now only $1,175,168,675 with the interest charge
only $41,189,010. In other words, we have actually paid
during these years the enormous sum of $1,581,262,896
reduced
of debt and
$7,000 in silver
chiefly standard dollars.
GOVERNMENT UNAN CEE.
The
overhauling of one’s books when every item
increasing strength ought to be an agreeable
operation. Revenue largely in excess of needs, debt
obligations reduced with marvelous rapidity, interest
charge decreasing more rapidly still, and' the prospect
that the income the coming year will afford a surplus
surpassing even the last—these are the features which
Government figures for the fiscal year just closed suggest
and present.
Nevertheless, for obvious reasons, the
prevailing feeling falls short of unqualified exultation
over this showing.
But the facts are on that account of
none the less interest, and we may with profit briefly note
what of good has been attained, and how in the light of
by the great fact which these figures so
emphatically bring out, without once again asking Con.
gress not to allow debt reduction to stop.
It is well and
necessary to reduce taxation, but while granting that
relief, it is equally important to perfect a refunding
We cannot pass
which
will
leave
optional for payment
each
year.
of
scheme
of bonds
the past we are authorized to look at the future.
First of all, it is certainly very gratifying to find
that
paid off and destroyed another large
lot of Government bonds.
The total so disposed of the
last twelve months his been $124,321,750 ; as we have in
the same time paid certain items of non-interest bearing
debt while reducing the available cash in the Treasury
$18,753,000, the actual debt payment out of the year’s
income has been only $109,707,646 38.
But this latter
have redeemed,
fact does not affect the former statement,
bearing obligations
are nearly
months ago.
that
our
interest
12 4 £ millions less than they
A. single further thought
on this point is essential to a
complete understanding of
the work accomplished.
On the 31st of August, IS65
(just after the war had closed), the debt less cash in the
Treasury amounted to $2,756,431,571, and the annual
interest payment to $150,977,698.
On the 30th of June,
1887, the total debt of all kinds made up in the same
were
twelve
kind
some
quota
a
Possibly
when the session closes it will be found that all tax
bills
disagreement of the two houses; in
adopted such
a measure.
Besides, tax reduction does not provide an
outlet for the previous Treasury accumulations; yet
more or less of them can be used to buy better conditions
for new bonds.
Remembering this, and also that a per*
manent debt will not be tolerated by our people, that the
machinery for debt reduction is now in good working
order, that there will be a surplus even if we lower the
taxes, Congress cannot fail to see that a feasible refunding
measure is of the first importance.
What has been said with regard to the amount of debt
paid this year shows how excessive our tax income now is.
As we have so often written on this latter point, we would
pass over that feature of the case, by giving only the
annual totals, were it not that a statement of details brings
out so clearly the urgency there i3 for relief.
We have
consequently prepared from the monthly figures the
Treasurer furnishes us, a statement of the revenue each
quarter for the two years. By this method the constant
growth in the receipts is plainly indicated. The figures
have failed
that
case
are as
through
what
a
a
relief it would be, to have
follows.
exhibits
we
annual interest charge about
our
109| million dollars.
July 8,1886.
July 7,1887. 1
Banks of
manner,
[Vol. XLV.
Revenue in 1885-86 from —
Revenue in 1886-87 from—
000s omitted.
Int'nal MisceVs
Ous-
reverte.
toms,
|!
Total.
sources
Cus-
toms.
IuVnal Miscel's
rcveiVc.
quarter....
58,750
28,038
6,125
$
I
03,519
51,030
if
28,018
Second quarter.
48,032
29,005
9,507
87,104
44,799
30,800
Third
50,380
26,269
9,383
U2,038:
35,224
9,820 108,600 !
t
First
quarter..
53,0io|
Fourth quarter.
will
if
217,404 119,130
Total year
It
|
of
$
1
!
34,841 871,381
S
Tota
sources
f
*
.
.
7
8
5,755
81,803
0,307
81,072
49,481
25,679
7,070
82,230
47,595
32,303
7,531
S7.429
-
■
i 192,905 116,800
26,729 330,410
be noticed that this
year’s in¬
come is almost 35 million dollars larger than it was last year.
That is an important circumstance, but what is more impor¬
tant is, that every quarter of the last year is larger than
its corresponding one, and that the closing quarter shows
the largest excess of any in the twelve months.
Are we
not forced to anticipate from that steady increase, a decided
growth in the coming twelvemonths? CRi the surplus
last year 109 millions, and adding to that only half
of last year’s increase, we get a total for the coming
twelve months of 12 6£ million dollars. It seems unreason¬
able to look for less than that, except in case we have some
great falling off in business activity, while if busi¬
ness continues to develop we ought perhaps to anticipate
10 millions more.
These are the facts Congress must face
when it meets.
We scarcely need to add that all its
ingenuity will be required in devising honest ways for
wiping out this vast surplus, while the large amount
which must be accumulated before that is accomplished
will be a further stimulant in the same direction.
Surely
both tax reduction and a refunding measure will be alike
necessary. ;
course at once
THE CHRONICLE.
July 9, 1887.]
But the present
39
situation and the prospect during the day of trial will
period of depres¬
a period that we
coming six months are what will engage special atten- sion occurs.
tion. As we anticipated in referring 'to the matter last were writing.
As affecting the present year and current
week, the first of July figures show a falling off in the Treasury accumulations, it is a favorable device.
Treasury accumulations.
Notwithstanding the month’s
WORTHY OI THEIR HIRE.
surplus was nearly 17 million dollars in June, the Secre¬
There is no more practical question in American politics
tary appears to have reduced the amount in the sub¬
treasuries over
million and the total balance not quite than that which concerns the means to be adopted to secure
but nearly as much. This is shown by the following pure government.
The pessimists will tell you that the
statement of currency holdings in which we include the government is wholly rotten and corrupt—that elections
figures for July 1, 1886, and for other dates for comparison. are invariably bought, that legislatures are always venal,
that public officers are open to considerations of a pecuniary
March 1,
June 1,
July 1,
July 1,
1 Jan. 1,
U. S.Treasurer's
nature.
It is not by any means so to the extent charged.
1887.
1866.
18S7.
1887.
net holdings of
j 18S7.
$156,793,749' $170,912,413 $175,130,261 $186,667,773 $186,875,669 In cases votes are undoubtedly bought and sold.
Gold....'
It
73,343,425 seems to be
81,682,187
73,157,591
96,229,539
75,998,915
Silver..
beyond controversy that members of legislative
20,013,797 bodies
22,668,317
23,169,326
25,689,202
21,767,376
U. S.Notes.....
accept bribes for supporting or opposing measures,
375 176
Bank Notes....
149,014'
197,016
227,065
217,922
and black sheep do get into the official fold.
1
Yet it is a
29,282,4961 25,792,358
Frac’nal Silver*
26,595,715
27,208,314
27,094,192
come when the next
But it was not of such
comfort to know that the bvil is not
1
fTnt.a1
$305,323,115 8296,100,107 $309,315,287 $309,176,230 $307,529,129
In deposi’y Bks
14,435,199
18,133,923
19,720,598
22,931,302
22,802,573
Grand total.... $319,758,314 $314,234,030 $329,041,885 $331,978,803 $33 ).520,43l
*
Including minor coin.
The
encouraging feature brought out in the above is that,
spite of the adverse circumstances under which the
Secretary has been acting, he has been able to keep his
currency balance at very nearly the same figure all
through the year, and that he] has done it by adding
to the amount in bank depositories but little more than 8
million dollars.
Thus on the first of July, 1886, the total
held in sub-treasuries was 305^ million dollars, on the
first of March, 1887, it was 309 J million dollars, and on
the first of July it was 307-J million dollars.
The latest
information from Washington indicates that the July
payments are large and that the balance on the
first of August will most likely be considerably less
than it was on the first of the current.month.
Altogether
therefore, the outlook is unexpectedly satisfactory ; for, as
stated, the Secretary has only increased his funds in the
depository banks about 8 millions in twelve months and
only about 7 millions above the total in August; so that
he has that resource for a plethoric Treasury left almost
untouched, and every other device which was at his com¬
mand wholly, unused, besides starting, as anticipated, with
a decrease in the balance the first of the
coming monthin
Under such conditions there
seems
to
be
no
reason
for
anxiety with regard to Government operations during
the current half-year.
Secretary Fairchild is evidently
able to prevent any disturbance to legitimate business.
There is one other feature of the Treasury movements
during the year in which our readers will be interested.
We refer to the silver issues. The silver dollar coinage
for the twelve months has been about 33] million dollars.
With the aid of the small silver certificates the
Secre¬
tary has been able to get out not only all this coinage,
nearly 23 million dollars more. It thus appears that
we did not at all exaggerate the importance of the small
silver certificate measure, in referring to it at the time of
its passage.
The total silver (including fractional silver
and minor coin) put afloat during the year is as follows.
but
Net silver in the Treasury July 1, 1SSG
$96,229,539
Net silver in the Treasury July 1, 1S87
73,348,425
Decrease in Treasury lioliiiugs in 12 months
$22,881,114
Coinage of silver dollars from July 1, ’86, to July 1, ’8?... 33,266,831
Total dollars and certificates put afloat in 12 months.. $36,147,915
Fractional silver and minor coin —
Decrease
in
Treasury, $2,1-^8,304; coinage, $2,043,303.
Total silver and minor coin put alloat in 12 months
This
brings the total
..
4,231,607
$60,370,552
supplies of silver since July
1, 1836, up to $0;] million dollars. If business con¬
tinues active theiG is no reason why during the next
year
much more should not be absorbed
by commerce. The
new
is often
one
half
so
great as it
represented to be. Much that is charged is charged
political effect or is an outgrowth of the habit of exag*
geration which political writers seem to cultivate.
Nevertheless, any corruption is too much; and unfortun¬
ately the least failure to check an evil of this nature tends
inevitably to increase it. Wholesale indictments against
a New York Board of Aldermen, an organized campaign
against Chicago “boodlers,'’ are well in their way. So is
the annual house-cleaning of the slatternly housekeeper;
but daily neatness and older are better, just as constant
vigilance against the election of bad men to positions of
public trust, and a rigorous and uncompromising hostility
to every breach of trust, will alone keep the tone of public
affairs up to the standard.
The problem is, not only how
to do it, but how to make the task of doing it as easy as
possible. For experience shows that while the masses of
men can be roused occasionally to energy and exertion,
they cannot be kept in a state of nervous political tension.
Consequently what is necessary is a system that will, so to
speak, run itself—a system that will make it more worth
while for good men than for bad men to seek and hold office,
and that will give to voters the choice which they do not
now always have among candidates—between several good
men, or between good and bad, not, as now sometimes
happens, only between bad and worse.
In considering this question, it seems to us quite too
little attention is paid by political philosophers to the mat¬
ter of public salaries.
Let us see what is to be said on
either side of this question.
First, let us hear those who
think the compensation of public men for public services is
already great enough. It is undeniable that there is not
and never will be any scarcity of men willing to take the
offices for the salaries now paid.
Nor is it entirely sure
that competent men may not be had for all places.
Fur¬
thermore, we shall be told that a general increase of pay
would increase the scramble for office.
And it may be
contended, not without reason, that public salaries have
been from time to time increased without perceptibly
elevating the standard of the official personnel. Finally
it may be urged that where salaries are low men seek
positions for the honor and not for the emoluments of
office, and that they are then apt to be taken from a higher
grade of society than in cases where the pay is so high that
any man can afford to make office-holding an occupation.
Not to deny the force of some of these assertions, briefly
outlined, there is very much to be said on the other side.
In the first place the government—national, State or muni,
cipal—is incomparably the richest and most powerful, as
it is. also the most important, corporation. As such -it can
afford to demand and pay for not merely competent men
for its offices, but for the ablest and strongest men in the
for
>:{3
It cannot afford to Jiave anything inferior to
the best.
Now the salaries paid are so far below proper
compensation for the highest talents, that, speaking broadly,
very few first-class men ever think of formally entering
public life, or do enter it unless strongly urged to do so,
and generally in those cases wealth has put them above
community.
salary
consideration.
Proof of this is not needed. Any
delegation to Congress, or most any New. York
Legislature, furnishes evidence enough without going
further.
The present system gives competition and causes
scrambling, but it is almost wholly among second and third
New York
f.
[Vol. XLV.
THE CHRONICLE.
40
rate men.
right to decide how much their own services are worth,
but they should be allowed to fix the compensation of
their
successors.
part we deem it little less than
America^ Union should
low a type of representatives as is to
For
our
scandalous that the States of the
be contented with
so
legislative halls, and we do not believe
substantial improvement until the com¬
pensation is made adequate to attract some men above the
third rate of self seeking politicians.'
be found in their
there
can
be any
NEW RAILROAD
MILEAGE.
frequently taken occasion of late to refer t#
rapid extension of our railroad mileage now in progress,
and to the effects this was having upon all branches of
trade and industry.
The Railway Age of Chicago has just
barely sufficient to cover very frugal board. This condi¬
a statement of the new mileage constructed in
tion puts these places out of the reach of an honest man of published
the United States in the first half of the current yea^
small means, while the office is tempting to a class of men
which affords additional proof of the same conditions.
who never fail to disgrace any position they are chosen to
According to the Age, a total of 3,754 miles of main
fill.
They*are men of little character and little scruple,
track by 136 companies was laid during the six months
who seek office not for the opportunity to serve the public,
which have just been brought to a close.
Considering that
but to get a livelihood out of the public.
They are the in the
early months new construction is always carried on
easy prey of the first man who brings a job into the body
under difficulties, that the half year in question therefore
or the office
with which they are connected, if, indeed,
comprises the period least favorable for extending the rail¬
they do not go in quest of those who are willing to pay for
road system, an addition 'of 3 J thousand miles must cer¬
votes and official help.
Now, while it would be absurd to
tainly be considered very large. It cannot be said, how.
say that an increase of salaries would exclude such men
ever, that it is greater than a close watch of current affairs
from office, there can be no doubt that it would, if the rate
had led one to suppose it would be.
The total is nearly
of increase were large enough to have any effect at all,
as great as
for the whole year 1884 (3,825 miles), and 550
both bring forward a much better class as candidates, and
miles greater than in the twelve months of 1885; but these
impress the people with the ludicrous incongruity of
were
unfavorable years for new railroad undertakings,
making such men as now fill the positions officers and
owing to the decline in stock values and the unsettlement
legislators.
of confidence.
The Age thinks that the total new mileage
Incidentally the same measure would result in more
for 1887 will reach at least 10,000 miles, which from present
careful work by legislatures. It is little wonder if a mem¬
indications would appear a very conservative estimate.
ber of the Maine legislature who received, we believe, the
munificent sum of $150 for a session, is inattentive to his Perhaps a great deal will depend upon the conditions that
Capital is not
duties ; and it is little wonder, either, if the work of the may develop during the next few months.
as venturesome as
it was, the recent disclosures in the
legislature as a whole is hasty, orude and inconsistent.
We can hardly suppose that any considerable number of speculative world having in some measure unsettled
confidence.
However, so many companies have already
men in public position are driven to steal or to accept
bribes because of the meagreness of their pay, as a fam¬ definitely laid out new mileage for the next few months,
and are actively engaged in its construction, that a total
ishing man out of work is sometimes impelled to an act of
of 10,000 miles for the year woiild seem rather below
dishonesty to relieve his own hunger and that of his
than above the basis of probabilities.
family. Yet it may be urged, with very groat force, that
It is natural in view of this large amount of railroad
when the public puts a man into a position without pro¬
building, that fears should be entertained lest we go too
viding compensation sufficient to afford a reasonable sup¬
fast, and thus sow the seeds for disaster later on. All
port. it puts before him a temptation which almost fore¬
closes criticism.
Our people certainly do not want to previous eras of active construction have been followed
forbid legislative service to a man because he is not by periods of reaction, in which enterprises of a specula¬
tive nature and those in advance of the needs of the
wealthy. There was a time in our history when the present
positive evils in the existing system.
For the scale of pay is not only inadequate for the services
rendered, but in the case of legislators, it is in most States
Again, there are
We have
the
were forced to the wall, resulting usually in wide¬
perfect keeping with our surroundings. time,
That was a period of Arcadian simplicity, when the farmer spread disturbance, which it took some years to recover
from.
It is argued therefore that we are now paving the
after lie had put away his crops, finished his years work,
way for another experience of this kind.
Undoubtedly
was always ready to answer the country's call and spend a
few weeks in perfecting its laws.
Those surroundings there is danger that we may build new mileage in excess
of the requirements of the present and the immediate
have passed in most of the States, and it becomes important,
future.
Indeed in certain sections it is clear we have
system was in
now
to
conform our customs to
the change.
unpopular. We do not already gone beyond prudent limits. But admitting this,
it is well to bear in mind that the present period differs
however, believe that the unpopularity results from the
in certain essential particulars from all previous eras of
fact that salaries are increased, but from the fact that
men vote
to raise their own salaries.
In so doing they new construction, which feature at least greatly reduces
the liability to such a result....
throw away all the benefit, in the shape of improved
One of the main points of difference concerns the parties
service, which we should expect to be derived from giving
a more
just compensation for public service. It is the engaged in the work. On former occasions most of the
new mileage was undertaken by new or minor companies,
men who are chosen already, and who are not up to the
standard of ability that is desired, however honest they having no previous experience, and without income,
may be. who first receive the highest pay.
For this character or credit. Now the bulk of the work is.
being, done by prominent corporations of large means,
reason, if for no other, legislatures should never have the
Yet
“salary grabs” are very
p
July
9, 1887.J
41
THE CHRONICLE.
We have reference to the reduction in the rate of
ripe ' experience, established credit and periods.
interest.
Instead of paying six and seven per cent interest
heavy earnings.
An excellent illustration of this is
their new obligations, railroads now are paying only four
afforded by a statement in the Age that of the 3,754 miles
and five per cent, involving a saving of 2 per cent per
of main track laid in the half year, over 2,060 miles were
annum.
Not one of the seven companies mentioned above
contributed by seven companies, namely the Atchison, the
is borrowing money at above 5 per cent, and the Burling¬
Missouri Pacific, the Manitoba, the Rock Island, the St.
ton & Quincy and the Manitoba are paying only 4 per cent.
Paul, the Burlington & Quincy, and the Southern PacificObviously, it is easier to make a road earn 4 and 5 per cent
It is further to be said that while in previous eras most
its obligations than to earn 6 and 7 per cent.
In brief,
of the new mileage was on independent ventures, that is
then, we have a lighter burden both by reason of lower
was undertaken on its own account, now it is being built
as branches or feeders of existing systems.
The import¬ interest rates and a capitalization closer to cost, and perhaps
ance of this difference will be readily understood.
A road also an actual reduction in the cost of building new road,
while at the same time a large share of the new mileage is
in a new country can not always be made self-sustaining
under the sheltering wing of corporations of large earnings
at first—hence if operated on its own account is in danger
of getting into difficulties.
Where the road however is and great resources.
operated as part of an existing system, the case is differ¬
There the old line makes a large profit in the long
ent.
FRANCE AND RETRENCHMENT.
haul it usually gets on traffic to and from the new road.
It was in circumstances of peculiar difficulty that at the
Hence if the new road does not pay of itself, it adds to
the revenues of the old mileage, which of course makes beginning of J une last M. Rouvier undertook the respon¬
It was with difficulty he
it easier to bear any loss arising from the direct operation sibility of forming a cabinet.
succeeded in gathering around him a sufficient number of
of the road.
With so large a proportion of the total mileage con¬ competent men, willing to share with him the burdens of
And when the cabinet was completed, and
tributed by the seven companies above, it is not surprising government.
the responsibility of administration was fully assumed >
that the States and territories traversed by these systems
are the ones which show the
largest amount of track laid the fear of friends and the hope of enemies alike pointed
to the possibility of an early fall.
in the half-year.
Thus in Kansas there has been an addi¬
It was mainly on account of the demand for retrench¬
tion of 692 miles, in Texas 489 miles, in the Indian Terri¬
ment that the previous administration—that of M. Goblet
tory 433 miles, in Nebraska 331 miles, and in Dakota 304
and compelled to resign. When the
—was outvoted
ample resources,
on
on
miles.
The total new mileage
in these five States and
for the
entire country, as already said, is 3,754 miles.
And this
affords a striking commentary upon the activity of rail¬
territories is
2,249 miles, while the aggregate
-
administration fell, M. Rouvier was not one of
those immediately thought of as likely to be called upon
to assume the reins of power.
Circumstances, however,
Goblet
do
section of the country. It is in brought him to the front, and he had the courage to
two difficult things—to dispense with the services of
the same section too that new construction is still being
General Boulanger, deemed by many indispensable, and
carried on with especial vigor, and new projects and
extensions most numerous.
It would seem therefore as if to pledge himself and his colleagues to reduce the expenses
road construction in that
government.
of the country it were time to call a haltM. Rouvier has proved himself to be a much stronger
Certainly the movement can not go much further without
man than either his friends or his enemies were prepared
producing such an antagonism of interests as would prove
to find him on trial.
So far he has conducted the affairs
very harmful.
In the meantime, the fact that the work is
He
of the Government with equal firmness and wisdom.
being prosecuted under the care of the larger and more
has accomplished the very difficult two-fold task—that of
prominent companies must relieve the situation in great
giving no real cause of offense to the more popular ele¬
measure of its embarrassing features.
in French society, and that of conforming to the
It should be remembered that not only are these com¬ ment
panies better able to bear any loss resulting from the con¬ requirement of the more considerate and conservative class.
M. Rouvier, when he accepted office, promised to retrench
struction of the new lines than minor unknown companies
In these columns we
would be, but the capitalization is on a much more moder. to the extent of 60,000,000 francs.
ate and modest basis.
In former periods capitalization questioned at the time whether such a figure would be
was
altogether- out of proportion to cost
The stock sufficient to satisfy the party of retrenchment—a party
which demanded radical changes, and who3e object was to
represented in most cases no outlay whatever, while
meet the expenses of the year without imposing upon the
the obligatory interest-bearing obligations were
even
greatly in excess of cost. By giving securities to a very people any additional burdens in the shape of taxation.
We said also that much would depend upon the good
much greater aggregate than the actual amount of the
sense of the deputies, inasmuch as tim3 and freedom from
cash paid, it was sought of course to make the purchase
look more tempting.
Now where the larger companies are any unnecessary irritation would be needed by the Govern¬
ment if they would introduce any measure, wtll-considered
doing the work the determination is to keep -the cost in
new stocks and bonds down to a minimum.
Many com¬ and likely to prove satisfactory. The result is gratifying
M. Rouvier, after only about a
panies are issuing ho stock at all against their new mileage, beyond expectation.
month’s deliberation—not by any means too long in the
while some others which are carrying on their new con¬
in that part
organizations keep the whole
or part 'of
the stock of the new roads in their own
treasuries.
The result is that probably never before was
capitalization of new mileage so close to actual cost as a^
present. It follows that the burden* of charges is corre.
spondingly light.
But the burden of charges has been diminished in still
another way. and this is perhaps the most important par.
ticular in which the present period differs from all former
struction work under separate
of the
premises—has prepared a budget by which he proposes to
establish
an
equilibrium between- expenditure and
receipts, by retrenching to the extent of 129,000,000
francs, about double that which he originally prom,
This figure
ised.
he proposes to make up by
retrenching in the ordinary budget to the extent of
69,000,000 francs and on the extra budget to the extent
of 60,000,000 francs.
The equalization of receipts and ex¬
penditures does away, of course, with the necessity of any
42
THE
additional taxation
of
a
new
or
of the
raising of
money
CHRONICLE
[You XLV.
June
by means
loan ; and hence we are told that there is to be no
loan nor any fresh taxation.
If the Premier’s plans
30,1887.
Assets and
accepted, the proposed tax on alcohol, and the personal
property tax pressed by the late government, will both be
May 31, 1887.
Assets
Balances.
and
Liabilities
Liabilities
102,368,916
192,461,995
85,732,190
85,160,755
(Asset) 278,101.106
Certificates issued...
121,4*6,817
Certificates on hand.
30,261,380
277,028,750
123,002,3&5
32,101,358
Balances.
are
Gold—Coin.
Bullion
...
Total gold
abandoned.
Such
a
budget ought to commend itself to the more
Chambers and throughout
Certified, net.(Liability) 91,225,437
Net gold in treasury.
Silver—Dollars,stand’rd 211,483,910
Bullion
3,982,473
conservative element in the
France.
It should commend
itself
also
to
the
more
the welfare
of France at heart.
that the heart of
France is
and
have sway among
139,143,328
30,757,376
9,400,000
410,000
8,770,000
Certifle’s, net.(Liability)
8,990,000
20,013,79
6,934,963
Balances....(Asset)
6,6'1.277
375,176
22,802,574
310,301,£03
311,391,767
Deposits in Nat. Bunks
Public Debt and Int.—
Interest due,unpaid
21,767,376
197,046
22,991.30:.'
..
1,753,667
8,626,111
6,115,1*5
190,754
Accrued interest
Matured debt
Inter’t on matured debt
Called b’Js not matur'd
and balance of int..
Debt bearing no inter’st
Int. on Pac. liR. bond?
2,103,250
7,956,630
6,541,293
196,108
19,710,500
2,366
19,766,061
due, unpaid
Acc’d Int., Pac. Rlt. b’ds
33,120
1,938,705
33,693
1,615,588
Debt and int .(Liability)
Fract’l cur’cy redeemed
Int.ch’cks & coupons p’d
38,376.388
38,214,692
2,064
2,366
2,064
46,798
5,301,031
Debt and inter’st.(Assef)
5,363,397
100,000,000
48,802
33,012,0911....
100,000,000
97,909,054
101.6S4.391
D’bt&int.net(Lf«l>iJity)
Res’ve for red. O.S. notes.
Fund held for redemp. of
notes Of Nat. Banks
Fund held for redemp. of
Nat. gold bank notes...
Five p. c. f’nd for redemp.
of Nat. Bank notes
83,864
85,234
8,113,335
8,200,082
Redemp.res’r.(Lfa&t,'*./{/) 206,106,253
209,978,707
Nat. -Bank notes In pro¬
cess of redemp...(Asset)
Net res’rv e9.(Liability)
Post Office dep’t account.
6,571,734
Disburs’g Offlcers’bal’ces.
21,905,529
31,094,358
788,182
720,561
Undistrib’d ass’ts of fail’d
2,165,539
National banks
3,552,069
720
Fractional silver coin re¬
demption account
Redemption and excli’ge
1,980
1,405
4,900
616,335
421,730
outstanding.
Treasurer U.tt., agent for
paying int. on D.Col.bds
2,366,943
5,667,074
305,42*'
56,815
Total
(Liability)
lnt.on D.Col.bds pd (Asset)
32,556,324
2,195
42,850,979
9,374
Treasurer’s transfer ch’ks
and drafts
Net
206,426,688
4,889,552
redemption account....
account
38,165,83
203,040,714
Currency and minor coin
sound, and that intelligence
73,157,591
73,318,420
Net U.s.notes in treas.
Trade dollars redeemed
National Bank notes.
It will show
firmness, self-restraint and self-denial. Her resources
are
immense'; and on more than one occasion
within the memory of living men she has revealed
her extraordinarily recuperative power.
Economy, wisely
and judiciously carried out, can have but one result.
It will
give the country strength, because it will
give France full command of herself. Of all the
nations of Europe France has least need to be in the con¬
dition in which she has been for some
years past—with an
expenditure ever increasing and the receipts ever diminishing. As this is the first really vigorous effort which
has been made in recent years to establish an
equilibrium,
not by increasing the burdens of the
people, but by cut¬
ting down expenses, we cannot but wish it success ; and
we are not
unwilling to admit that in this bold measure of
M. Rouvier we discover
signs which give us hope for a
more stable state of
things in France, and for the restora.
lion of confidence in and towards that
country.
212,300,919
144,432,492
5f289,164
Certiflc’s, net .(Liability) 142,118,017
Net silver in treas’y
U. States notes
(Asset) 28,783,797
Certificates issued
9,U80,000
Certificates on hand....
310,000
all ranks and classes
of the people.
Extravagance of every kind is what
France has to avoid; and, no matter what the
temptation,
wisdom will be with her in proportion as she exhibits
common sense
186,667,773
209,052,507
3,248,3.2
Total silver
(Asset) 215,460,443
Certificates issued...
145,543,150
Certificates on hand.
3,425,133
popular and aggressive element, because the Government
has nbt gone contrary to their wishes in the matter of
the mobilization of the army.
What will be its fate is,
of course, as yet uncertain.
When the Goblet administra¬
tion was under trial, retrenchment was suggested'in the
management of railroads, in connection with the coming
Exposition, in the matter of public instruction, and in the
expenses connected with the public offices.
How far MRouvier has taken advantage of these suggestions, we have
as
yet no means of knowing. If he has taken advantage
of the suggestions then
offered, and made use of
the pruning-knife in the directions indicated, it is
natural enough to suppose
that the wounded will
howl, and that to the extent of their ability they will
oppose the measure of the Government.
It is "to be
borne in mind, however, in this connection, that the work
of reform has been forced upon the Government by the
necessities of the country, and by the persevering and
persistent efforts of patriotic statesmen. The presump¬
tion, therefore, is that if M. Rouvier shall be able to show
that his retrenchments will not weaken, or in any
serious
way impair, the efficiency of the Government machine,
he will have the support of the Chambers—and that
though the budget may be modified, it will not be
rejected.
If this view of the situation shall
prove to be correct,
it will be a source of great gratification to many people
who have
90,930,977
186,S75,609
....(Liability)
32,554,129
42,847,605
Balances. .(Liability)
£69,507,834
£87,440,073
Net balance....(Asset)
40,853,369
£3,951,694
116,699
26,977,494
143,571
87,064,742
67.947,562
51.160,007
Assets not available—
Minor coin
Subsidiary silver coin..
Aggregate net Asset
THE DEBT STATEMENT FOR
JUNE, 1887.
INTEREST-BEARING DEBT.
'
Character of
Inter't
Issue.
P'y'blt
3s
4J^s
4s
Option. Q—F.
.1891. Q.-M.
1907. Q.-J.
r>
8s, pension
Amount
Registered.
Outstanding.
Coupon.
$
19,716.500
206.a32.650
Int. Due
<fc Unpaid.
Total.
$
$
43,167,350
622,020,650 115,779,950
19,716,500
250,000,000
737,800,000
*64,623,512
14,000,000
*64,623,512
.r
...
J.& J.
Pacific RRs...
J.&J.
Accrual
Interest.
$
7,064
$
68,852
589,558
937,500
1,100,903 7,378,006
KfK non
Aggregate.
913.193,812 158,947,300 1.086,315.862
210,000
1,938,705
33,119
1.786,786 10,504.816
*
2,302,000 matures Jan. 16,1895; $640,000 Nov. 1. 1895; $3,680,000 Jan. 1,1896
$4,320,000 Feb. 1,1890; $9,712,000 Jan. 1,1807; $29,904,952 Jan.l, 1898; $14,004,560
Jan. 1,1899.
DEBT ON WHICH INTEREST HAS CEASED SINCE MATURITY.
Aggregate of debt on which Interest has ceased since maturity is $6,115,105;
interest due and unpaid thereon, $190,753. This debt consists of a number of
small items of which the principal amounts are called bonds, the largest
Items being $4,062,650 called 3 per cents of the loan of July, 1882, and $373,750
called consol 6s of 1867.
DEBT BEARING NO INTEREST.
Amount.
Old demand notes
.
UNITED STATES TREASURY STATEMENT.
The following statement for June, from the office of
the Treasurer, was issued this week. It is based upon the actual
returns
from Assistant
Treasurers, depositaries and superin¬
tendents of mints and assay offices, and shows the condition of
the United States Treisury June 30 ; we give the
figures
for Jtfay 31 for corn* ari ion :
f..i
$57,130
340,681,016
Legal-tender notes
Certificates of deposit.....
Less amount held in Treasurer’s cash
9,080,000
Gold certificates
Less amount held in Treasurer’s cash
Silver certificates
.-.
Less amount held in Treasurer’s cash
...
Fractional currency......
Less amount estimated
as
Aggregate of debt bearing
lost
no
or
destroyed..../
interest
—
310,000121,486,817
80,261,380145,543,150
8,425,13.315,322,898
8,375,934—
8,770,000
91,225,437
142,118,017
6,946,964
$595,798,504
JULY
'250,000,000
1737,800,000
4743
4a
even
%
%
$
the old and
Total.
Interest.
Principal.
Interest-bearing debt-
8s.....
Refunding certificates, 4s
Navy Pension fund, 3s....
Pacific RR. bonds, 6 p. ct.
19,710,500
175,250
14,000,000
64,023,512-1,080,315,802 12,351.603 1,098,607.405
57,130
340,081,010
8,770,000
91,225*437
142,118,017
6,940,964-
Old demand notes
Legal tender notes, &c
Certificates of deposit
Gold certificates
Silver certificates
Fractional currency
0,305,919
190,753
0,115,165
which int. has ceased
Debt bearing no interest—
Debt on
595,793,564
595,798,564
1,688.229.591 12,542,357 1,700,771.943
Total debt
of the debt. ...$280,489,812
of U. 8. notes
100,000,000 $380,489,842
Less cash items available for reduction
Less reserve held for redemption
1,320,282,100
40.853,369
Total debt, less available cash items
Net cash in the Treasury
Debt, less cash in the Treasury, July
the leading centres of
accomplished fact, and
Instantaneous communication between
RECAPITULATION.
$
43
CHRONICLE.
THE
9, 1887.1
1,279,428,737
1,296,281,462
1,1887.
Debt, less cash in the Treasury, June I, 1887.
16,852,725
109,707,646
Decrease of debt during the month
Decrease of debt since June SO, 188*1
WEEKLY RAILROAD EARNINGS.
worlds is
new
now
an
the most remote corners of the universe are not unap¬
proachable. Conditions have been altogether altered. The
rapid adjustment of the excess and deficiency of different
quarters is now easily attainable, thanks to electricity and
steam; hence the “cornering” of any leading staple of con¬
sumption has been rendered immeasurably more difficult, and,
as we have lately seen, very dangerous to those attempting it.
Again, we have the settlement of claims and differences by
telegraphic transfers becoming much more general, to the dis¬
placement of bills. In fact, the tendency is to secure an
equalization, whether of money or commodities, with the
result that trade is more evenly distributed and business
relations with all parts more complex.
The greater the
intricacies of foreign trade, the stronger are the probabilities
of the maintenance of peace ; and if the world has progressed
so rapidly during the past fifty years, during which some
serious and momentous wars have been waged, it becomes a
source of wonder to estimate the possible progress during the
next fifty years, supposing that peace between the leading
maintained.
But whilst business during the week has been restricted,
there have been firm markets for iron and steel, as well as
nations of the world be
earnings on forty-four roads wool, though cotton has at times been flat. Stock Exchange
show an increase of $424,532, or 12'45 per cent. Ten of the speculative operations have been of an unimportant character.
We have had a firmer money market, which has, however,
roads report a decrease.
still been deficient in~animation.
The German demand for
For the fourth week of June
4th week of
1887.
June.
Increase.
1886.
S
Buffalo N. Y. APliila
Buffalo Roch. APittSD...
Cairo Vincennes & Cliic..
California Southern
Canadian Pacific
..
Chicago & Atlantic
Chicago & East. Illinois..
Chicago Mil. & St. Paul..
Chicago A West Mich
Cincinnati Ham. <fc Day..
Cin. Ind. St. L. <fe Chic
Cincinnati Wash. & Balt..
Col. & Cin. Midland
Denver & Rio Graudei...
Det. Lonsing «& Northern.
Evansville & Torre H
Flint & Pere Marquette..
Ind. Bloom. <fc Western..
Lake Erie & Western
Louiav. Evansv. <fe 8t. L..
Louisville <fc Nashville....
Louisville N. Alb. & Chic.
Mexican Central
Milwaukee L. 8. <feWest
Milwaukee & Northern...
Minnesota Northwestern.
N. Y. Ontario & Western.
Norfolk & Western
Northern Pacific
Peoria Dec. & Evansville.
8t. Jos. & Grand Island..
St. L. Alt. & T. H. (M. L.)
Branches
St. Louis Ark. & Texas...
St. Louis & San Fran
St. Paul & Duluth
Tol. Ann Arbor <fc No.Mich
Toledo & Ohio Central...
Wabash Western
..
Wheeling & Like Erie....
Wisconsin Central...
Minn. St. Croix & Wis..
Wisconsin & Minnesuta.
i
14.065
!
2,132
24,679
8,008
12,973
3,963
63,230
m
m
m
343
22,612
3,959
11,475
8,521
4,432
„.......
45,953
15,016
59.929
115,095
35.509
27.982
104,227
20,666
42,068
14,913
13,572
43,384
42.390
994
70.403
335,011
53,675
375,696
19,280
18,785
27,577
18,331
37,870
121,367
16,728
25,520
m
1,337
19,454
396,715
12,925
m
2,232
45,012
'
61,193
147,392
47,644
13,044
21,OC6
177,000
lw,197
63,695
m
,
4,686
49,043
7,490
215,900
31,458
20,721
73,297
47,910
51,398
82.484
928
1,125
2,799
-
23,323
26,025
257
3,986
18,439
2.567
122,000
55,OuO
1,856
Net Increase (12-45 p. ct.)
mmm
40,685
9.058
3,410.165
m
28,496
47,387
16,341
76,802
15,140
6,435
m
5,753
599
2,215
London
Joint
Three
Four
Four
Three
Six
Bix
Months Months Months Months Month« Months
91,649
1
1763
-
1763
-
1763
©176 1743
3 - 1763
-
e
-
7-631
7631
l
1
im
-
-
1763 -.17632
1763 - 170-2
1763 - 17432
1763 - 17442
1763
17432
1764176 1763176 174*2
17432
17632
17632
17632
17632
17432
Messrs.
London, Saturday, June 25,1887.
jubilee festivities have been the prominent feature
of
past week. The heartiness with which they have been
prosecuted and sustained speaks volumes for the stability of
existing institutions; and whilst, for the moment at least;
business has suffered, the unanimous endorsement of good
the
wishes from all parts of the Empire shows a degree of confi¬
dence in the future which should be productive of happy
results, commercially and
financially.
To attempt to draw a
parallel between the commercial position now and fifty years
ago, is hardly a fair proceeding.
In this interval science has
made enormous strides.
Steam navigation has brought Aus¬
tralia to within five weeks and New York within eight days
of London. More important still has been the sharp develop,
ment of the railway system, both at home and abroad.
Dis¬
tricts formerly inaccessible and unproductive have been made
to yield up their quota of agricultural or mineral wealth.
DUc’t H's*.
Stock
7 to 14
Banks.
Days.
1743376
17432**
174*274
1743274
1743274
176 3274
[From our own correspondent.]
h
The
for deposits by
Trade Bills.
Bank BUls.
HV0 uetaraf ©ourwer rial HuotisTtUrurs
The
little.
a
Interest aUovted
Open market rates.
•••••••>
19,085
516,180
424,532
hardened
inquiry for money at the close of the half-year is also
beginning to be felt, but then the dividends will soon be dis¬
tributed and their absorption will be necessary before a per¬
manent hardening of values can be possible.
For short loans
the charge is 34 to % Per cent, and for discounting three
months’ bills 1 to 1J^ Per cent.
The weekly Bank of England
return shows some loss of strength.
The reserve has declined
£255,066, and the proportion to liabilities, which last week
stood at 4815 per cent, is now 47*51 per cent. There is a defi¬
ciency in bullion of £399,941, of which £36,000 went abroad.
Public deposits have been swollen by £1,068,864, but private
deposits have been reduced £1,143,313.
Tenders for £1,500,000 Treasury bills have been received by
the Bank of England,'[and the whole amount was allotted in
three months’ bills at an average of £1 Os. 2d. per cent, tenders at
£99 14s. 5d. receiving about 40 percent, and above in full.
On
the 1st of July applications'will be received for a further sum
of £2,000,000. The sum maturing on that date is £1,175,000—
£295,000 having been placed in six months’ bills in January
last, at an average of £3 6s. 5*75d., and £880,000 in May last in
three months’ bills at an average of 18s. per cent.
The rates for money have been as follows:
13,107
••••••••
consequence
usual
29,324
1,352
31.482
80,440
3,834,697
Total (44 roads)
5
61.481
18.930
and the market has in
13,183
9,000
40,973
631,000
18,352
17,660
30,376
$
$
2.500
27,087
26,116
302,000
...
Long Island
70,900
53,423
gold has sufficiently developed to necessitate the withdrawal
of £250,000 from the Bank of England for that destination,
Decrease.
Pixley & Abell write as follows on
the state of the
bullion market.
Gold.—The raovemonts at the Bank of England during the week are
£14,OuO purchased and £250,000 sold for export to Germany. There
has been a strong demand, and all amounts offering have been sent to
Germany. The arrivals are £S4,000 from Cliiua, £2,809 from Aus¬
tralia, £8,000 from India and £1,200 from the Cape; total, £96,090.
Silver has scarcely moved, and has been offering in but small quanti¬
ties. To-day’s quotations is 44tj.d., the rise of *ed. beiug due to scar¬
city. £21,000 have been received from New York and
Buenos Ayres.
£11,000 from
£37,500 have been shipped to Bombay per Peshawur.
quite inactive, and the nearest quotation
Mexican Dollars have been
is 43d.
The
quotations for bullion are reported as
SILVER.
GOLD.
London Standard.
June 23. June 16.
«.
Bar
Bar
gold, fine., .oz. 77
gold, contain’*
20 dwts. silver.oz.
Span, doubloons.oz.
AAm.donbloons.oz.
follows:
d.
9
77 10
•••••••«
9
Jane 23.
d.
d.
i.
77
London Standard.
June 10.
d.
44
oz.
44 1-10
•llver.containlng 5 grs. gold.oz.
44 7-10
4476
4774
47 7-16
Bar silver
Bar
77 10
Cake silver
oz.
Mexican dols...os.
43
43
CHRONICLE
TBE
44
[VOL. XLV.
J.
The
new
capital creations for the week
are as
follows
Dore &
Engilsb
:
Capital.
£970,000
1G0,0"0
Name.
ChaiDley Railway, £10 shares, guar
Opal Mines of Queensland (Limited), £L shares
City of Praliran (part of Melbourne), 5 p. c. debentures
75,003
Borough of Hastings (New Zealand), 5 p. c. debentures
25,000
*Aluiuinium Company (Limited), £5 shares
266,070
do
do
do
6 per cent debentures
100,000
South Staffordshire Miues, Drainage, 4% p. c. debentures
120,000
Greek 4 per cent Monopoly Loon
5,400,000
Australian Town
County l and Mort. Co. (r im ). £5 shares.
500,000
*
Gym pie Great Eastern Gold Mining Co. (Linn), Queensland,
£1 shares
£00,003
Manitoba Mortgage & Investment Co. (Limited.), £10 pref.
.
—
shares
1
*A. C. W. Hobman & Co. (Limited), £5 shares....
100,000
75,000
Argentine (Cerro Vall6) Gold Fields (Limited), £1 shares
80,000
*
To acquire existing business.
Messrs. C. J. Hambro & Son
authorized to receive
appli¬
cations for £1,900,000 of a Greek 4 per cent monopoly loan for
£5,400,000, the balance being reserved for the Continent. The
issue price is 78% per cent. The loan is specially secured by
the income from various monopolies—petroleum, salt, &c.—
are
Financial
markets— Per Cable,
The
are
daily closing quotations for securities, &c., at London
reported by cable as follows for the week ending July 8 :
London.
Silver, per oz
Sat.
d.
C msois for money
Consols for account
Fr’oh rentes (in Paris) fr
(J. B. 4%a of 1891
U. 8. 4s of 1907
Canadian Pacific
Chic. Mil. & St. Paul....
Erie, common stock....
Illinois Central
43%
101716
101%
81*30
112^
131%
63%
92%
333s
127
58%
Pennsylvania
Philadelphia & Reading 29%
New York Central
114%
Mon.
Tues.
Wed.
43%
he
43%
44
1017,8
101
101%8
101%
101h6 1019,6
81*17% 81*22% 81-42%
112%
112%
1123S
131 -h
13134
131%
63%
62%
63%
90%
92%
923s
3338
333s
32%
127
127
127
58%29%
114%
58%
29%
114%
57%
29%
114%
Thurs.
Fri.
44%6
441,a
1019,6
101%
81*37%
11134
131%
62%
10111 IQ
90%
32%
127
58
29%
114%
101ll16
31*27%
11134
131
62%
89%
32
127
58
29%
114%
Commercial and ptisceUaneoas Hems
Government
Revenue.—Through the courtesy of the Sec¬
by a company.
Berlin advices report that an Imperial order has been signed
for the issue of a 334 Per cent loan f°r a total of 238,004,970
figures for previous months, and in that manner complete the
marks, the proceeds to be employed in covering the expenses statement for the fiscal years 1886-87 and 1885-86.
connected with the incorporation of Hamburg and Bremen with
1886-87.
1885-80.
German Customs union, the construction of the canal connect¬
0008 Omitted.
Cus¬
lnter'l Misc’ls Total.
Cus¬
lnter'l Misc’ls
ing the North Sea and the Baltic, the completion of the rail¬
lotaU
toms. Rev'ue Sowrc's
toms.
Rev'ue Sourc’s
way net work in the interests of the national defense, and the
$
$
$
$
$
t
9
$
administration of the army and navy.
2,258 29,637
9,480
8,501
July
17,899
16,219
2,047 26,767
Business throughout the week has been quiet. Jubilee mar¬
1,726 32,195
9,071
20,771
9,693
17,290
August
1,704 28,005
kets have prevailed, and dealings have not been allowed to go September
2,004 29,971
20,036
9,460
2,141 31,687 17,521 10,446
9,772
4,014 30,965
17,179
17,316 11,953
1,584 30,833
beyond the limit of actual requirements. Buyers of wheat October
November
15,141
9,689
9,250
2,746 27,576 13,057
3,074 25,381
have again had the advantage, but the weakness was more December
2,747 28,623 14,426
16,332
9,544
9,603
1,729 25,758
2,267 27,906
16,968
7,903
14,410
8,671
2,639 24,952
pronounced earlier in the week than at the close, -the trade January...
2,657 29,774
8,271
18,874
1,531 25,072
8,243
16,170
here reflecting the movements in America. The fall for the February
March
9,505
2,906 31,312
20,544
9,355
4,459 34,358
18,901
week is about 6d. to Is. per quarter.
9,506
18,082 10,159
3,514 31.755
15,952
1,413 20,871
The actual extent of April
16,546 14,389
2,899 33,834
13,709 12,390
1,948 28,047
May....
dealings here since the collapse of the “bull” speculation in
June
3,413
18.9S2 10,676
33,071] 17,934 10,407 4,170 32,511
America has been far from liberal. The average price of
Total 12 months. 217,404 119,136 34,841 371.3811 192,905 116,S0t> 26,729 330,440
home-grown wheat for the season is still 2s. 3d. per quarter in
Changes in Legal Tenders and National Bank Notes to
excess of 1885-86,
being now 32s. lid., against 30s. 8d. per
July 1.— The Comptroller of the Currency has furnished
quarter, and as, in the face of a disorganized American trade us the following, showing the amounts of national bank notes
and fine weather for the crops, there lias been no eager desire June 1, together with the amounts outstanding July 1,
here to realize, it may be presumed that the market possesses and the increase or decrease during the month; also the changes
in legal tenders held for the redemption of bank notes up to
sufficient inherent firmness to guarantee a fairly prolonged con¬
July 1:
retary of the Treasury* we are enabled to place before our
readers to-day the details of Government receipts for the
month of June.
From previous returns we obtain the
which will be collected
tinuance of steadiness.
For the first week of the current
the average price of home-grown wheat was 35s. per
quarter. Since then it lias been as high as 36s. 4d. and as low
as 32s. 6d. per quarter.
For the week ended June 18 it was
35s. Id. per quarter.
It will lie seen that the variation lias
not been important, nor are any great
changes in the imme¬
diate future likely, although continued fine weathermay
assist the development of weakness.
Mr. J. E. Beerbolim sums up the reports of the
wheat crop
year
in India
as
follows:
National Bank Notes—
Amount outstanding June 1,
Amount issued during June
Amount retired
Amount
Punjaub
N. W. Provinces aiul Oudo
Central Provinces
1886.
Tons.
Tons.
1,650.000
1,732,050
1.825,000
2,857,000
1,847,400
857,753
2,100,000
700,000
700,000
133,000
Bombay
Berar
Total
4,975,050
1895.
115,502
950,000
884,000
102,000
5,447,055
6,893,000
801 400
The
following shows the imports of cereal produce into the
Kingdom during the forty-two weeks of the season
sales of home-grown produce, &c.,
compared with last
$282,101,177
$1,657,890
4,795,313
during Juue
outstanding July 1, 1387*
3,137,423
$278,963,754
Legal Tender Notes—
Amount on deposit to redeem national bank
notes June 1, 1887
Amount deposited during Juue
Amount re-issued & b’nk notes retir’d in J’ne
$102,792,157
$9,306,290
4,761,034
on deposit to redeem national bank
July 1, 1987..
4,512,256
Amount
notes
1987.
Tons.
1887.
$107,334,413
‘Circulation of national gold banks, not included above, $254,034.
According to the above, the amount of legal tenders on
deposit July 1 with the Treasurers of the United States to re¬
deem national bank notes was $107,334,413. The portion of this
deposit made (1) by banks becoming insolvent, (2) by banks
going into voluntary liquidation, and (3) by banks reducing or
retiring their circulation, was as follows on the first of each of
the last five months:
United
the
Deposits by— March
season:
1886-87.
Wheat
cwt.
Barley
Oats
f*eas
Beans
Indian
Flour
corn
1885-86.
1884-85.
1883-84.
41,380,508
39,064,719
14,432,448
11,017,964
43,757,848
40,825,634
9.118,840
8,631,981
14,335,299
13.069,683
9,759,385
2,109.950
1,620.764
10,253,963
1,676,044
2,084,864
23,595,880
23,640.187
2,772,505
21.665,036
13,917,475
11,486,561
14,050,222
2.682.024
1,496,281
2,179,065
21,775,el9
12,337,904
Supplies available for consumption (exclusive of stocks
September 1):
1886-87.
1885-86.
1884-85.
1883-84.
home-grown..28,700,394
39,064,719
11,486,561
36,595,551
43,757,848
14,050,222
35,663,395
40.825,634
12,337,904
35,777,271
87,146,831
93,471,465
88,940,809
.
Imports of wheat.owt.41,380,508
Imports of flour
13.717,475
Bales of
T°tal
83,998,377
Aver, price wheat
Aver, price wheat
The
msuze
1886-87.
week. 35s.
Id.
season. 32s. lid.
1885-86.
31e.
4d.
30s. 8d.
1884-85.
33s. 2d.
33s.
2d.
1883-8437s. 0d38s. 9d-
following shows the quantities of wheat, flour and
afloat to the United
__
wheat
Flour,equal to
on
qrs.
qrs.
qrs.
Kingdom:
This week.
Last week.
1,734,000
202,000
349,000
1,740,000
205,000
388,000
1886.
2,107,000
251,000
518,000
1883.
2,285,000
232.000
327,000
April 1.
June 1.
May 1.
July 1.
785,360
$
812,256
8,809,226
8,582,620
775,927
8,289,772
act of’74.*
87,898,128 91,950,116 94,120,719 93,397,281
98,268,714
Total
97,763,956 101844915 103715305 102792157 107,334,413
Insolv’t bks.
IMPOSTS.
1.
Liquid’g bks.
Red’c’g undr
*
$
912,767
8,953,061
Act of June 20, 1874,
$
898,658
8,996,171
$
-
$
and July 12, 1882.
Bonds Held by National Banks.—The
following interest¬
ing statement, furnished by the Comptroller of the Currency,
shows the amount of each class of bonds held against national
bank circulation and to secure public moneys in national bank
depositories on July 1. We gave the statement for June 1
in Chronicle of June 4, page 700, and by referring to that
the changes made during the month can be seen.
XT. S. Bonds Held
Description of Bonds.
Public
Deposits
July 1,1887
to Secure—
Bank
-
in Banks.
3b, Act July 12* 1882—
Currency 6s
4% per cents
4 per cents
Total
$1,308,000
175,000
9,134,000
Circulation.
$5,205,950
3,175,000
Total Held.
15,568,500
67,743,100
115,842,650
$6,513,950
3,350,000
77,177,100
131,411,150
$26,485,500
$191,966,700
$218,452,200
THE
9, 1887.]
July
Coinage by
United States Mints.— The following state¬
ment, kindly furnished us by the Director of the Mint,
the coinage at the Mints of the United States during the
SL.v Months
Jane.
Denomination.
Value.
Pieces.
shows
month
of 1837.
$
Double eagles....
Eagles
Half eagles
Three dollars
Total gold
^1,080
560
54
58,013
580,150
396,040
3,960,400
218,017
1,090,085
1,606,042
8,030,210
30
22
266
90
55
266
85
67
493
255
167
493
276,378
1,671,206
2,002,781
11,992,605
2,516,090 17,306,470
17,306,470
2,516,090
Standard dollars.
Half dollars
45
470
470
235
118
879,537
87,954 5,025,301
502,530
Total silver
3,395,807
2,604,111 22,332,711
17,809,353
Five cents...
789,590
39,479 7,721,112
386,056
90
90
imes
dollars..
Quarter
99
1,821
55
2,269,390
22,694 21,462,343
214,623
....
3,059,370
62,185 29,185,276
600,734
Total coinage...
6.731,555
4,337,502 53,520.763
30,402,692
12
390
Three cents
One cent
Total minor
Imports and Exports for the
Week.—The imports of last
week, compared with those of the preceding week, show an
increase both in dry goods and in general merchandise. The
total imports were
$9,570,575, against $9,206,282 the preced¬
ing week and $8,740,843 two weeks previous. The exports
for the week ended July 5 amounted to $5,870,686, against
$5,485,153 last week and $5,572,962 two weeks previous. The
following are the imports at New York for the week ending
(for dry goods) June 30, and for the week ending (for gen¬
eral merchandise) July 1 ; also totals since the beginning of
the first week in January :
Gen’lmer’dise..
Total
1887.
$1,918,592
5,638,140
$1,506,473
5,338,812
$1,197,356
6,133,159
$1,864,712
7,705,863
$7,556,732
$6,845,285
$8,130,515
$9,570,575
Gen’lmer’dise..
$57,430,836
$47,254,993
139,570,119
$57,434,552
159,563,034
164,374,118
$60,175,602
175,942,895
Total 26 weeks. $221,804,954 $186,825,112 $216,997,586 $236,118,497
of the exports (exclusive of
Bpecie) from the port of New York to foreign ports for the
week ending July 5, 1887, and from January 1 to date:
The following is a statement
BXPORTS FROM NBW YORK FOR THE WEEK.
For the week...
Prev. reported..
$5,434,690
160,415,783
$6,856,593
145,483,589
1887.
1886.
1885.
1884.
Central Railroad.
National Bank of Boston has issued an
—The Maverick
interesting little book of statistics, which covers a wide field
in a space of some 200 pages. The following topics are treated:
“Historical Sketch of the National Debt,” “The Credit of
Nations,” “ State and Municipal Indebtedness,” “ Water
Works Bonds,”
“ What are Savings Banks Securities?,”
“
Banks and Banking,” “ Coinage and Currency,” “ Bank
Clearing Houses,” “ Railroads,” “ Foreign Exchange and Com¬
merce,” “ Land and Agriculture,” “ Coal and Iron in the
United States,” “Electrical Development,” “Boston Sta¬
tistics,” and “ Miscellaneous Statistics.”
—Attention is called to the full text of the Treasurer’s report
of the American Cotton Oil Trust on the sixth page of the
Chronicle to-day; also to the fact that Mr. Wm. O. Allison of
72 William Street gives attention to buying and selling this
stock for customers and has had experience in it from the
start.
—Messrs. Morton,
made an agreement
Co. give notive that they have
with the United States Trust Co. for the
Bliss
of effecting a settlement of the North
special tax debt. Copies of the agreement may be
purpose
their office.
Auction Sales.—The following were
$6,883,163
145,654,379
85
16
119
40
18
and
EXPORTS AND IMPORTS OF 8PKOIB AT NBW
$1,000 Wms’burg Gas Light
Co., 6h, due 1900
$10,000 Oregon Paeitlc RR.,
1st, 6s, Gobi, duo Oct. 1,
1900
90
216
210
111*3
100
other desirable
United States Government and
SECURITIES
FOR
TORK.
INVESTORS.
imports.
Exports.
..
gaiiMug ami Jftmmcial.
Total 26 weeks. $152,340,182 $165,900,478 $152,537,542 $150,496,823
The following table shows the exports and imports of specie
at the port of New York for the week ending July 2,
since January 1, 1887, and for the corresponding periods >n
1886 and 1885:
267
Wms’burg Gas Light Co. 122
2 City Fire Ins. Co
123
400 Sntro Tunnel Co...28c. per sh.
33 Union Ferry Co....
149
$5,870,686
144,626,142
:
Shares.
25 Central Park North &
East River RR. Co
5 Bauk of New York
25 Leather Man’fs Nat. Bk.
Bonds.
204*3
163
Bank of America.
175® 17 4 *4
Bank State of N. Y
123*3
Plienix Nat. Bank
112
Bank of North America. 125*4
240 Mechanics’Nat. Bauk
6 per cent 30
to Cortlandt
sold this week at
San
by Messrs. Adrian H. Muller &
Shares.
50 Leather Man’fs Nat. BY.
150 Pennsylvania Coal Co...
Carolina
obtained
limited amount of the
North & East River Railway Co.’s first mortgage
year bonds. The road runs from Fulton Street
Street ferries through Fulton Street.
auction
Since Jan. 1.
Dry Goods
Houston & Tex.s
—Messrs. R. & C. S. Miliiken offer a
1886.
1885.
1884.
Dry Goods
Ingleside and Corpus Christi; northwest from San
to Boerne, and east from Kennedy Junction in
Karnes County to a connection with the Gulf Colorado &
Santa Fe Railroad at Wallis, which latter point was reached
June 25, 1887, making a total of 300 miles completed road.
The proposed road from Yoakum to Waco will traverse the
most populous section of the State, through fine farming
lands, and at Waco making connections with the St. Louis
Arkansas & Texas Railroad, the Missouri Pacific and the
as
FOREIGN IMPORTS AT NBW TORK.
For Week.
gold bonds, due 1926. The road now completed runs from San
Antonio, Texas (population about 43,000) southeast to tide¬
water at
OQ
ollars eagles ...
Suarter
—The well known firm of Messrs. S. M. Swenson & Sons of
this city are offering a limited amount of San Antonio &
Aransas Pass Railway Company’s 1st mortgage 6 per cent
Antonio
Value.
Pieces.
45
CHRONICLE.
Qc Id.
Week.
Great Britain
Since Jayi. 1.
$..;...
$72,648
3,083
968,101
2,327,089
Week.
$1,578,107
$
6,400
1,507,165
357,953
1,309,501
1,948,747
439,139
4,719
167,601
81,028
111,800
$5,767,78 i
36,909,314
6,285,563
$11,119
158,958
35,518
$322,200
6,200
$4,372,445
608,073
France
11,457
Germany
West Indies
Mexico
South Amerioa.......
All other countries...
Silver.
7,690
17,502
20,000
$40,585
Total 1887
Total 1886
Total 1885
3,898,124
France.
Mexico
South America
All other countries...
Total 1887
Total 1886
Total 1885
28
Nassau Street,
2,921,917
$328,400
146,212
266,460
&
monthly balanoes,
SONS,
New York.
^54,000.
5,434,717
S A LINA,
OF
$57,397
$
1,379
Onondaga Co., N. V.,
146,665
361,831
114,590
54,428
48.825
767
21,478
1,325
194,016
233,358
$5,302,402
5,673.791
8,614.531
$2,092
6,902
$1,055,074
820,738
37,236
948.381
'
imports for the wee a in 1887 $6,400 were
American gold coin and $792 American silver coin. Of the
exports during the same time $38,583 were American gold
the above
4
PER
St. Louis Yandalia & Terre Haute.—The. necessary steps
have been taken at Springfield, III., by the St. Louis Vandalia
& Terre Haute Railroad Company, to file a bill for the vaca¬
tion of the lease of its railroad to the Terre Haute & India¬
napolis Railroad Company, and for the delivery of the former
road to its owners and an accounting to them for all the
profits due the Vandalia company. This suit is in the Penn¬
sylvania RR. interest.
—The Chase National Bank has removed to beautiful and
commodious quarters at No. 15 Nassau Street, lately occupied
by the Central Trust Company.
REFUNDING
CENT
BONDS,
Exempt from Taxation,
FOR SALE BY
COFFIN & STANTON, Bankers,
10, 11 and Vi Mortimer Building,
Wail Street, N. Y.
ORANGE BELT RAILWAY
coin.
P IS K
HARVEY
bought
$5,009,045
120,410
16,581
es
New York Stook Exchange
Deposit accounts received aud interest allowed on
subject to draf t at sight.
TOWN
Germany....
Of
All stocks and bonds listed on the
aud sold on commission for cash.
...
Great Britain
WestInd
Since Jan. 1.
CO.’S
FLORIDA,
OF
FIRST MORTGAGE 6 PER CENT GOLD
SCHOOL
NORTH
DISTRICT
NEW
4
CITY
PER
OF
NEW
RANSVILLE,
YORK,
CENT
8 1-2 PER
BONDS.
BONDS.
HAVEN,
CONN.,
CENT BONDS.
FOR SALE BY
GRISWOLD <fc GILLETT,
No. 3 Wall Street, New York.
Nf-i
THE CHRONICLE.
%\xt gatxluers' (gazette.
\iv
DIVIDENDS.
The
following dividends have recently been announced :
Name
Per
Cent.
of Company.
Railroad**.
Atchison Topeka & 8. Fe (quar.)
Central Ohio, corn, and pref
East Mahanoy
.
When
2*a
Seaboard National
(Days inclusive.)
! A.ug.
15IJuly 12 to July 19
;Jiily
3dJuly 14 to July 30
July
15;
19
I July
I July
I July
East Pennsylvania
Little Schuylkill Navigation
Minehill & Schuylkill Navigation.
Ranks.
Books Closed,
Payable.
9!
15
July
July
0 to July 15
15; July
9 to July 14
Insurance.
On
On
Citizens’
Empire City
..
dem.
dem.
Firemen’s
July
Globe Fire
Knickerbocker Fire
On
People’s Fire
40$
The following were the rates of domestic exchange on New
York at the under-mentioned cities to-day: Savannah, buying
par; selling $@$ premium; Charleston buying par; selling
$@3-16 premium; New Orleans, commercial, $1 00 discount;
bank, $1 50 premium; St. Louis, par@25c. premium; Chicago,
4O@50c. premium.
The rates of leading bankers are as follows:
11
sterling bills on Lon Ion..
Prime bankers’
Primft nnniTnprpinl
The Money Market and Financial Situation.—The past
-week has been scarcely more than a half week for business pur¬
the holidays observed
Documentary commercial
Paris (fr.irms)
Amsterdam (guilders)
Frankfort or Bremen (reichmarks)
__
United
Demand.
Sixty Days.
July 8.
■
•
WALL STREET. FRIDAY. July 8, 1SST-5 P. BL
poses, so generally were
und Monday.
ever,
11
dem.
dem.
On
On
United States Fire
past; the extreme dulness, how¬
has caused some weakness, though the posted rates are
unchanged from a week ago, viz.; 4 84 and 4 85$.
To-day the rates on actual business were as follows, viz.:
Bankers’ 60
days’ sterling, 4 83|@4 83 J; demand, 4 84$
@4 84£. Cables, 4 84|@4 85. Commercial bills were 4 81$®
4 81$; Continental bills were: Francs, 5 23| and 5 21$; reichmarks, 94f@94$ and 95@95$; guilders, 39$@40 and 40$©
easier than for several weeks
dem.
July
.-
[Tje_ ZLV.
4 84
4 81
d4 82
4 80V«4 81 hi
5 23%&5 22i*
40 ,@40'm
9430 0594%
4 851*
5 21*4
35*20%
40i316a>40*4
95%395*4
States Bonds.—Government bonds have been mod¬
Saturday erately active and quite weak in tone, in sympathy with the
other markets, all prices being quoted at a greater or less de
The money market has become decidedly easier, with every
cline from the prices of last Friday.
prospect of remaining easier until the fall demand for money
The closing prices at the N..Y. Board have been as follows:
sets in.
-
Railroad
,
»
on
.
earnings for June,
so far as yet reported, are show¬
ing remarkably well, though we scarcely expect to see a con¬
tinuation of the same large increase during the last half of
1887 that we have had'during the first half.
The crops, how¬
ever, up to the present date, are good, and unless there is very
bad weather later on, the yield will be abundant.
The stock market has not shown any tendency towards a de¬
cided movement this week, and brokers are busy with their
various theories as to the true reasons why stocks do not become
active.
There is no good chance for a bear movement without
some new and striking causes to warrant it, and this seems to
be generally conceded.
Then the question is asked, why do not
stocks advance ? To this there may be several answers, more
-or less satisfactory according to the views of different
parties,
or perhaps not satisfactory at all.
It may be suggestedr, how¬
ever, 1. That the average stock operators may be carrying a
fair amount of stocks and are rather inclined to realize on
-some
of their holdings if prices warrant.
2. The present
year is one of great activity in railroad building, and conse¬
quently in the making and transportation of railroad material,
.and large earnings have become a standard bull argument. Now
it is possible that stock operators anticipate a falling off in this
activity and a consequent decline in railroad earnings in future
months, or by next year.
3. The foreign demand for our
stocks and bonds has been large, including a goodly amount
•of new railroad bonds, and there may be some apprehension
that any war talk or political disturbances abroad would send
home our securities and depress our markets.
The foregoing points are merely suggested as some of
the possible reasons which may have an influence in preventing
the general public from becoming large buyers of stocks on
margin, and to those may be added the rather obvious fact that
prices are not relatively low, and have had no collapse which
would invite the cautious buyer to take hold with a pretty
.good chance of making large profits.
The open market rates for call loans during the week on
stock and bond collaterals have ranged from 3 "to 10 per cent.
To-day the rates were 4@G percent. Prime commercial paper
is quoted at 6@6$ per cent.
The Bank of England weekly statement on Thursday showed
a loss in specie of £747,000, and the percentage
of reserve to
liabilities was 38*35, against 43*00 last week; the discount
rate remains unchanged at 2 per cent.
The Bank of France
lost 1,150,000 francs in gold and 2,050,000 francs in silver.
The New York Clearing House banks in their statement of
July 2 showed an increase in surplus reserve of $305,175
the total surplus being $3,651,075, against $3,345,900 the pre¬
,
vious week.
The following table shows
week and a comparison with
averages
the changes from the previous
the two preceding years in the
of the New York Clearing House banks;
1887.
July 2.
Specie
Circulation
deposits
Legal tenders
Legal reserve
Reserve lield
Surplus
Prev. Week.
\
18c6.
1885.
July 3.
July 3.
$
!
a*
'
$
363,553,200 Deo.1.931,200 355,743.700 357,206,100
73.288.200 Inc. 757.500 64,183,900 11»,Uo,600
8 309.000 Inc.
14,900
7,819,700'
9.839,300
367,081,300 Dec.2,073,1001377.4ll,40i> 380,798,800
22,133,-00 Dec. t 70,600; 40,890,400: 42,688.000
Loans and disc’ts
Net
Diffr'nc's fr'nv
1
91,770,325 Dec.
95,421,400 I)< c.
518,2751
3,651,0:5 luc
3 >5.1751
,
94.352,850
95.199,700
213,100,105,374,300 156,8u7,60.)
11,021,450:
61.<07,900
Exchange.—Sterling exchange has been very dull all the
week, the demand having been extremely limited. Nothing
lias occurred to affect rates, the
money market having ruled
Interest
Periods
4*28,1891
reg Q.-Mar.
4*28. 1891
coup.1 Q.-Mar.
4s, 1907
reg. Q.-Jan.
48, 1907
coup. Q.-Jan.
6s, cur’cy,’95
rog.J,J. & J
68, cur’cy,’94
reg. !J. & J.
6s, cur’cy, ’97
reg. J. & J.
6s, cui’cy, ’98 —reg. J. & J
68. cur’cy.’99
reg. J. & J.
*
Tins ia tile
July
2.'
July
July
July
Ju'y
July
4.
5.
6.
7..
8.
;
•
■
s
a
c
o
*-*•
5
Qj
p
£
7*
*
;
•
.
109%
*109*2
128*4
xl2*H»
*123*2
*12-%
*129%
103% 108% *103%
109*4 *108% *108%
12 7% *127%
128
*123
*123
*126
*129
*132% *132
*134*5 *134
*127% M2770
*123
*126
*129
*132
*134
*123
*126
*129
*132
*134
price bid at tbo morning boaid; no sale was m ide.
have been al¬
entirely neglected during the past week, the transactions
having been smaller than for a long time past, and confined to
State and llnilroad Bonds.—State bonds
most
a
some of the Southern issues.
Railroad bonds have had a moderately
few sales of
active business, the
transactions, however, being considerably scattered, and no
special activity in any particular class is to be noted. The
bond market has not been so much affected by the fluctuations
in stocks as it frequently is, and as a consequence most classes
hold up pretty well and a few have shown some strength. Some of
the more speculative classes, however, have dc dined a little in
sympathy with stocks, the most notable of this class being Erie
2*ds, which are lower than for a long time past.
Railroad and Miscellaneous Stocks.—The business at the
Exchange has been quite limited during the past week,
owing to the fact that Saturday and Monday were holidays.
On the remaining days of the week, however, transactions have
been moderately active.
The market remains in a rather
unsettled condition, and prices have been weak and irregular.
Most of the conditions and influences are now of a generally
favorable character, and nothing has occurred during the past
wreek to disturb values.
Yet there is a decided sluggishness in
the disposition to buy stocks, and the bears take advantage of
this to depress prices, which is comparatively easy to the extent
of 1@2 per cent in the disturbed state of the market after the
severe shaking up it has had.
The money market, which has
been an important factor in the late bear campaign, has ruled
much easier than for several w*eeks past, only a slight temporary
flurry occuring on Monday, when the rate was bid up to 10 per
cent.
But such is the uncertain feeling in regard to money
rates that the fear of another tightness is one of the deterring
influences to the speculation.
Nearly all prices have given way
more or less under the action of the bears, though the weakness
has been more pronounced in some, and a few exceptions to the
general decline arc to be noticed. The weakness of each day
has generally been followed by a moderate reaction, which has
partially offset the decline.
There have been very few special features.
Reading has
been a conspicuous exception to the prevailing weakness,
having ruled firm throughout under good support, accompanied
by favorable reports in regard to its financial condition and
prospects. Pacific Mail was specially weak in the early deal¬
ings, but recovered part of the decline later. Northwest was
adversely affected on Thursday by a report that the company
was
to use $10,000,000 of its surplus to retire bonds, but it
was
quickly denied. The other grangers sympathized with the
decline in Northwest, though for no special reason.
N. Y.
Susquehanna & Western common and preferred had a sharp
decline on Thursday, under speculative manipulation and lack
of support, but part of the decline was "• recovered
To-day
(Friday) the market was weak under the appearance of bear
attacks, directed especially against N. Y. Central, which sold
down to 107 in the morning on very moderate sales. There was
a recovery
afterward, and the latest tone was firmer, though
most of the list showed some decline for the day.
Stock
.
%
.
JULF 9,
THE CHRONICLE.
1887.]
47
STOCKS—PRICES AT N. Y. STOCK EXCHANGE FOR WEEK ENDING JULY 8, AND SINCE JAN. 1, 1887.
oaies
HIGHEST AND LOWEST PRICES.
STOCKS.
Saturday,
July 2.
Tuesday,
July 5.
Monday,
July
4.
Active It It. Stocks.
Atlantic & Pacific
Canadian Pacific
Canada Southern
Central of New Jersey
Central Pacitic
1)0
-
1st pref.
2d pref.
.
Do
Chicago Burlington <fc Quincy.
Chicago Milwaukee & St.Paul.
Do
pref.
Chicago & Northwestern
Do
pref.
Chicago Rock Island & Pacific.
ChloagoSt. Louis & Pittsburg.
Do
Kingston
&
Lake Shore
Pembroke
Mich. Southern.
13%
59
00%
*38
*0%
*10%
*7%
112
29
29
02%
12%
62%
12%
*7 0
24%
95
J
14%'
27
!
122
122
•
*40%
975s
"li %'
98%!
74
25
14%
90%
96
Minneapolis & St. Louis
52
88
88
Do
pref.
Missouri Kansas & Texas
Missouri Pacitic
Mobile <fe Ohio
,
Nashv.Chattanooga&St. Louis
New York Ceutral & Hudson
New Y. Chic.& St. L., assent’d
Do
pref., assented.
New York Lake Erie & West’n
Do
*10%
17
*40
41
10%
37 % 38%
28% 28%
102% 103%
83% 83%
109% 110
18% 18%
33% 33%
31% 32%
81% 81%
109% 110
1734 18
31% 32%
31% 31%
7034 70%
49
51%
17% 17%
10% 1034
32
32%
pref.
New Y'ork <fe New England...
New York Ontario & West....
New YorkSusq. & Western...
Do
pref.
Norfolk & Western
Do
pref.
Northern Pacific
Do
Ohio & Mississippi
pref.
Oregon <fe Trans-Continental..
Peoria Decatur & Evansville.
Philadelphia & Reading
Richm’d & West P’nt Terminal
Do
pref
Rome Watertown & Ogdensb’g
St. Louis
San Francisco
Do '
■„
pref
Do
1st pref
St. Paul & Duluth
Do
pref
Bt.Paul Minneap. & Manitoba
Texas & Pacitic, ass. paid
Union Pacitic
Wab. St. L. &P.,P. Com. repts.
Do
pref.
53%
17%
11%
50%
17%
10%
33
19
33
19
48
45%
33%
00
*28
30
34
50%
31%
*88
39
77%
110
81
108
34%
01%
31%
35%
58%
33
Wheeling & Lake Erie
55%
50%
Miscellaneous Stocks.
Colorado Coal & Iron
45
40
110% 110%
29% 30
50% 57%
18% 18%
32% 32%
54% 50
44
77
78% 79%
100% 101%
45
78%
100%101%
49% 49%
98
98%
43
44%
“99“ "9*9”
40%
97
97
151
152
97
151
75%
78%
Express Stocks.
Adams
American
United States
Inactive Stocks.
Buffalo Roch. <te Pittsburg
Central Iowa
Chicago & Ind. Coal R’way...
Do
pref.
Cincinnati Wash. & Baltimore.
Do
pref.
Lake Erie & Western
Do
do
pref.
Marquette Houghton & On...
Do
pref.
135
135
60
8
*55
*90
6G
8
00
95
*4%
Virginia Midland
Columbus & Hocking Coal....
Marshall Con. C>»al.
New York & Perry Coal
Tennessee Coal
Iron
Various Stocks. Ac. (Uni
i m t. Cottou Oil Trust
Pine Line Certificates
Boston H. <fc Erie, new
These
are
08
7%
*55
*90
4%
22%
58%
20%
50%
17
0
7%
*30
*41
32
45
45
45
10%
32
19
40 34
19
33%
59%
27
27
30
30%
33%
5;%
31%
29%
57
1834
32%
54%
44
45%
7 8 34 79%
101
101%
49%
50%
98
93
45
90 %
27
150
18%
49
98%
44%
140% 14G%
110% 110%
70
134
130
68
*60
00
93
*05
7
...
4%
*4%
8
*7
.
113
8,050
10,710
335
*50 •*
88
4%
*7
20
5%
7%
20%
21
57
57%
*30
43%
38
41
4,3 iO
21,755
7,487
1,300
4%
7%
7,750
2;o7el
74*
850
08%
31%
08
32
09
08%
31%
09%
"800
35
31%
2,820
35
39%
00%
00%
30%
00%
39%
60 >4
41% 30,280
01% 2,vjs,°oo
Board.
01%
U Ex-rights.
Jan. 17
Jan. 17
Jan. 17
44% May 20
281120
7;
95
June 2
June 20
1
6
120% May 27
35% May 23
63% May 18
22%
May
G
38% May 18
63% Apr. 18
53% May 19
89
May
24! 105% Apr.
1
38
54% May
90% June 28 105% May
43
July 0! 58% Apr.
Feb.
95
June 281115
139% Jan.
4; 159% May
June
Feb.
07% June 241 79
,Jan. 19
June 21
June
19
18
31
19
7
8
23
7
1
June 30
07% Apr. 19
8
99% May 18
July
Mar. 23
1
74% Apr.
6
15% Jan. 19
June 13
7
Jan. 13
10% Jan. 14
24% May 1601
Apr. 29
30% May 27
100% May 27
June 24
June 24
June IS
"Too
June 4
50i 13% Jan.
5 22
258 127% Mar.
9 141%
6
8%
Apr. 22
35
28
Jan.
4j
100
8 45%
30
Jan.
300
Juno 28! 25
18
50u
31
Apr. 221 45%
38
May 11 49%
tOO 35% Feb. 24 50
June 28! 32%
38%
40%
53
May 23
200
38%
.
May 18
Apr. 12
May 23
2j 84% May 26
Feb.
35% Feb.
77
July
’*200
39%
%
Jail.
55% Jan.
40
208
22%
42
Apr. 20
35 139% Jan.
4 148
JunelO
10J07 Jan. 5|ll8%Mayl4
62
Feb. 17 73% May 24
87' 126% Jan. 25137
June G
*20%
41%
June 11
Mar. 29
Jan.
3
Feb. 14
38% Feb. 14
3
23% Jan.
25! 87%
81 95
Jan. 271
15,487 100
39
0^
June 24
7,*20; 20
Feb.
8,745 53% Feb.
2.10O
13% Feb.
1,850; 23% Feb.
4,200: 52% June 2)
i’,687
41%
20
07% June
Feb.
80
207i 107
2,125
33
45
18
May 14
Apr. 14
3i 55% May 1G
1 34% July 7
1 63% May 19
1 32% Apr.
4
20%June24i 35% Apr. 7
30% Jau.
3j 39% May 25
34
Feb.
1' 58% July
5Feb.
Feb.
Feb.
Feb.
1,057! 113
50%
*30
*40
18
7
43%
20%
50%
22%
1,GOO| 112
i*,913|
20
*15% 10%'
137% 137%
*0%
7%
July
June 24,
61% Feb.
50%
*
42
68
7
56
89
*90
32
43%
70
132
Juno 30-
July
29
15
‘*200|
32%
54%
8
27
Mar. 12 37%
29% Feb.
1 35%
05% Jan. 291 70
45% June 24 66
15% Feb.
4; 20%
9% July 7 14
1,9001 30
80%
98%
99%
70%
67%
7
7
31
28*
1
21
3
88% Jan.
8 114% May 19
10% Mar. 15j 20% May 16.
90
70
118
A pr.
79% June 28!
38%
43
41%
78% 79%
100% 101%
49
98
67n
41,540
43%
43%
97
1,150
90%
*90
345
151% 151%! 151% 151%
70% 77
75% 70% 110,435
*50
21
8O0
5,550 107
0,745
30%
3,885
33%
57% 180,200
30% 10,978
11534 110
28% 29%
50% 57%
53%
*90
32
45
19
*42
19
42%
01%
55%
29%
55%
*30
39%
00%
33
18
32
15 % 10%
137% 137%
74!
*0%
34
20%
29%
19
33
*20% 22
93% 93%
*15% 10%
137% 137%
7%
*0%
30
19
00
*115
80
30%
57%
95
93
35
10
31%
00
75%
81%
_
40%
34%
38
110% 117%
*00
*20
41
45%
_
33%
*87
118
7%
53%
*90
k
the prices hid and asked; no sale was made at the
*115
81
9%
30 34
19
47%
34%
00%
*05
57%
22%
41
*17
110% 110%
*
Cameron Iron & Coal
M
03
22%
57%
*6%
18
29
132% *129
*7
Quicksilver Mining Co
51%
17
Apr. 5*
May IO
May 18
10! 98
Jan.
4! 119
May 18
300’ 15
Juno 28 20% Apr.
2
500i 30
June 28; 48% May 31
2,245 26
June 24! 34% Apr.
£>
15,313 92
June 24:112
May 19
100 13% June
8
14| 10% Jan.
86,125
*144
113
70
:8
17
Do
prof..
»t. Louis Alt. & Terre Haute..
8t. Louis Ark. & Texas
150
*7
Mexican Central
Morris *fe Essex
70%
*144
*109
*07
130
5%
81
108
108
34
108%
4; 02% May
101%
500 51
Jan, 27! 64%
1,817! 80 Jau. 271 95%
15 00% Jan.
6 94%
70
51
70
88
18%
*80
107
08% June
4*
Jan.
3
June 24 82% Jan. 13
Jan.
3
Feb.
1 32
Mar. 12 100
Apr. 1>
Feb.
1
Jan. 15
Feb.
3
Juno 28
900;
09%
4934
31%
38%
70%
81%
102
Apr. 11
7! 17
July
2,847: 114% July
1,310
1,100
22,305
88
81%
38
28%
102%
08
3; 32% Apr. 14
Jan. 24
Jan. 28
1,1951
42,880!
18
38%
70%
77
118
*85% 87%
113% 113%
'16% 17%
27%
50%
12%
09%
21%
3G,413j
32%
31%
89
70
*115
88
22
6! 39%
20% May 26 28
May
1,080 If 120% J’e 24 138
May
20
17% Feb.
4 27% Apr.
425; 38
June 28 47% Apr.
17%
38%
78
118
82
103
02% 03
11434 115
*37
i‘,540
17
22
Jan. 11
June 2 1139% June 1
12
97%
90%
02%
86
1,980
1,201
7
7
54% May 17
ljll 8% J une 7
27% July
14
27
41
June
1
Feb.
June 24
84
40
01
11127
Feb.
32,946! 130
1,250| 21% Feb.
32
30
89
34
Wells, Fargo «fc Co
31%
Mar.
21% Feb.
95%
90
1.903!
17%
50%
30%
9
032 106
1,6001 58
33
32
34
57
Apr 12
Jan.
8
Jan. 13
Jan. 20
43%
9%
17
8! 11%
%
410
138% Jan. 29 153% J une
3051
124% Mar. IS 140% May
10! 16
Feb.
1 22
Apr.
100; 35
Jan. 27 52% Apr.
33
31%
09%
49%
*17%
9%
3.
July 1
10%Juue24i
634
21,003i 110
17%
38%
30%
70%
109% 10934
39%
58
152
33%
00%
20%
30%
82
82
90
110% 117
44%
90%
47
33%
59%
20%
29%
33%
50%
30%
29
57%
18%
Delaware & Hudson Canal...
Oregon Improvement Co.....
Oregon Railway & Nav. Co...
Pacific Mail
Philadelphia Co., Nat. Gas
Pullman Palace Car Co
Western Union Telegraph....
20
*18
40
30
Consolidated Gas Co...
88
113
"l*6%
28% 28
103% 104%
15% June IS
08% Jan. 13
lj 64% May 10
3; 86% Apr 13-
Feb.
33
45%
53
88%
<
pref.
97%
90%
02% 02%
02% 02%
110% 120
90
8;
52% Feb.
55% Jan.
92%
23%
40
Mil. Lake Shore & West
Do
'
*24*b>
97%
90%
02%
1
June
13,2401 45% Feb.
2734 28%
13134 133%
28
2S%
02% 02%
12% 12%
63
119
90
58
27
122
Louisville & Nashville
Louis. New Alb. & Chicago...
Manhattan Elevated, consol..
Michigan Central
58
”45%!
45%;
14%
*24%
505
110% 111%
59% GO
27% 28%
132% 133%
25%
'
144%
13t
*17% 19
*41% 47
49
50
49%
73
*93
39
8
14
10
131
*17%
133% 134
28% 29%
02
03%
13% 13%
10% Feb.
59
7,870
20
IOO
110% 117%
*147% 148%
*45
30%
25*2
*0%
*10%
1,450
1,5S5
7,820
Highest.
130% Jan. 13:150
May 17
85% 87%! 120,087! 85% July 8 95
May 13
1,205! 117% Jan. 8 127% May 17
120
120%
132
01
*70
15
S6%
40%
52%
112%
29
50%
'78%
Lowest.
Shares
13%
59%
5734
78 34
*38
0%
121
117
'148
19
00*2
39
13%
5934
*7
144
143%
80%
131
*17%
46%
50%
79%
*10%
118% 119%
148
148%
131
13%
60%
5.8%
0%
123
Long Island
Memphis & Charleston
57
79
*38
57%
*7*2 10%
145
145
87% 89%
122
13%
Week,
Friday,
July 8.
July
0.
73%
8
15
*12
pref.
Denver & Rio G., assessm’t pd
Do
pref.
East Tennessee Ya. & On. R’y.
Do
1st pref.
Do
2d pref.
Evansville & Terre Haute....
Fort Worth tfe Denver City....
Green Bay Winona & St.Paul.
Do
pref.
Illinois Central
Ind. Bloom. & West., ass. pd..
59%
80%
38%
38*4
*6%
Chicago St. Paul Min. & Dm..
Do
pref.
ClevelandCol. Cin. & Indi an a p.
Columbus Hocking Val.&Tol.
Delaware Lackawanna A.West
14
61
13%
G1
57
79
Chesapeake & Ohio
Wednesday,' Thursdtyr,
J uly
Range since Jan. 1, 1887.
of the
May 2G
Feb. 11
Jan. 10
May 14
June 6
Feb. 12
June 20
Jan. 27
Apr. 27
May 23
72% Apr.
5
62% Jan.
3
June 211 54% Jan. 14
31
July
0!
Feb. 16|
64% Jan.
3
72% Jan. 11
THE CHRONICLE.
48
BONDS—LATEST PRICES OF ACTIVE
Atl. & PacW. D. inc.,
Guar., 4s, 1937
CaD South.—1st guar.,
2d 5s 1913
6s, 1910
5s, 1908
34
354b
254
84 b.
84
814
104 %
105 b. 1054
93 b. 93
904
884b. 904b. 86
108 *«b. 1084b. 1054
1154b. 117 a. 1074
Oen.Iowa—1st, 7s, ’99, coup, oft
Central of N. J.—1st, 7s, 1890..
Consol. 7s, 1899, assent
1144b. 116
Convert. 7s, 1902, assent
Adjust. 7s, 1903
Convert, aeb. 6s, 1908
Le’h & W.B.,oon.7s, 1909,as’nt
Am. Dock A Imp., 5s, 1921. ..
108
102
114
1144b.
1898.. 114
b.
Ban Joaquin Br. 6s, 1900
Central Pacific—gold 6s,
sf;
Land grant 6s. 1890
Ches. A O.—Pur. m. fund 6s, ’98
6a, gold, ser. B. 1908, coup, ofl
5s, 1913.
1144b. 1114 Feb.
102%b. 100
July
112
734
734
694
69
b. 112
Mar.
71
May
b.
68
May
b. 234 July
1084b. 106
97
93
4s, 1922
100
Chic. A Ind. Coal R., 1st, 5s, ’36 1004a.
Ch.Mil. A St.P—1st, I. A M.7s, '97 119 b. 1194
129
117
Assented
'05
Det.Mac.AM.-Ld.gr.3i28,1911
E. Ten.V. A G. Ry.—Con.,5s, '56
Eliz. Lex. A B. Sandy—6s, 1902.
Erie- 1st. consol, gold, 7s, 1920
Long Dock, 7s, 1893
Con. 6s, 1935
b. 106
b. 97
954 Jan.
94
110
119
103
1014
754 Jan.
1084 June
Apr.
1074 Mar.
1084 Apr.
99
Jan.
1034
1224
1304
1194
June
Jan.
June
June
Jan.
1104 Mar.
1104 Mar.
99
108
103
80
i*204b.
79
79
74
Jan.
135
July
1104 Feb.
1247e May
1274 Jan.
1194 July
124
Apr.
b. 984 Jan.
b. 107
b. 984
a.
75
70
Jan.
Feb.
Mar.
Mar.
1184 Feb.
764 Feb.
79
a.
73 b.
71
80 b. 784
68
51
514a. 49 99
984
98
100
1024a. 101
137 a 130 b. 1324
a.
1094 Apr.
Mar.
June
2d, 68,1930
1919
1114 May
1044 June
887e Jan.
91
Jan.
1214 June
824 June
82
Apr.
78
Jan.
Apr.
864 June
June
56
May
June 10138 Apr.
July 108
b. 119
98
994
Jan.
115
b. 105
Jau.
June
Mar.
Mar.
‘
10478May
954 May
120
984 May
1094 Mar.
111
June
93 b. 95”“
12l%b.
121 b.
1124
119
110
;
64
Jan.
95
July
119
b.
,110
118
a. 105
Jan.
1004 Jan.
924 Feb.
109
53
May
110
Feb.
May
1254 Juno
1064 June
1194 May
1194 May
1194 May
112
May
794 May
1084 Jan.
994 Jan.
1244 Feb.
99
May
894 June
984 May
3478 Apr.
122
98
Mar.
Feb.
764 June
100
129
1254a. 1254 Feb.
1224 Jan.
1234
122 a. 12058 May
1113 4b. 1124 July
Jan.
June
1264 May
124
115
Apr.
Jan.
,1134 June
907e Jan1144a. 114 4a. 1144 July
illl
107
Jau.
1114
1044 Jan.
107*2 108
Note—The letter “ b” indicates price bid, and “a” price
!
June
Bid.
Alabama—Class A, 3 to 5
6s, 10-20
1906
1900
Arkansas—6s, funded.. 1899-1900
7s, Little Rock A Fort Smith, iss.
7s, Memphis A Little Rock, iss..
7s, Arkansas Central RR
Georgia—7s, gold
Louisiana—7s, cons
Stamped, 4s
Micliigau—7s
1890
1914
1890
103
10
May
1204 May
113
Apr.
131
Apr.
Apr.
Apr.
Jan.
1104 June
Tol. A Wab.—1st, ext., 7s,
1st, St. L.Div., 7s,
I.
b.
’90 il4
b*.
1889.....
2d, extended, 7s, 1893
•
110«8 Feb.
914 Jan.
115
105
105
103
115
114
69
110
Feb.
110
95
77
Jan.
Feb.
Apr.
Apr.
b. 1064 Jan.
til
1034 July
b. 115
July
1074 June
a.
a.
',404
114
109
102
40
July
Jan.
Feb.
Jan.
123
119
il2** a.
108
Mar.
794 Jan.
May
Apr.
Jan.
1124 Apr.
1114 Apr.
504 May
10278 May
112
May
98
917a Mar.
108
Jan.
10978
1014b. 1004 June 106
99 b. 98
June 1044
Mar. 1154
1134b. 110
87
814 Jan.
69
112
Jan.
Jan.
1154 May
864 May
754 Feb.
1147a July 1184 Apr.
b. 10378 Jan. 1074 Mar.
1134
824a.
112
Jan.
Apr.
Juno
Apr.
Feb.
874 Apr
77
115
114
120"
117
Apr
Jan.
Feb.
116
June
May
Jan.
108
48
Feb.
1024 Apr
b.
66
1114
106
*120** a. 114
1134b. 108
Jan.
a,
Mar.
114
110
105
35
98 4
44
110
109
94
113
114
Feb.
Feb.
Jan.
June
Apr.
Mar.
Apr.
108%b. 1084 June 1124 May
101
1004 June 104*€rMar.
1034
1034 June 1084 Apr.
75
64 b.
70
Apr.
Mar.
1054b.
45
994b.
454
113
112
95
113
a.
b.
112
a.
a.
100*4
114*4
1084 Feb.
1004 July
1104 Jan.
119
117
93
106
50
96
71
96
53
100
83
95
49
89
b.
99
Jan.
1154 Jan.
117
Apr.
1174 Apr.
115
May
1044 Jan.
118
Apr.
Mar.
121
1204 May
1014 May
Feb.
Jan.
Mar.
May
May
Mar.
Feb.
Feb.
109
55
May
May
1074 Jan.
80
Jan.
284 Jan.
1134 May
112
Apr,
June
Jan. 110
664 Feb.
June
784 May
Feb.
Mar.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
July
Feb.
Jan.
Jan.
May
May
Apr.
Jan.
Feb.
1104 Jan.
Jan.
Jan.
b.
84
b. 109
10J4a. 99
109
b. 1144
101
1014
Mar.
Jan.
J an.
90
b.
b. 114
1144 Mar
July
106
99
1
j
Jan.
June
Feb.
844 Mar.
b.
.
112% June
J uno
554 Jan.
Jan.
Mar. 115
May
Apr.
b.
July
May
114*’a. 1134 May
a.
..
io*2
90
Con., conv., 7s, 1907
Great West.—1st, 7s, 1888.... 114
102
2d, 7s, 1893
St.L.K.C. AN.—R.eAr.,7s,’95. 113
West Shore—Guar., 4s
/. 101
asked; all other prices and the range are
72
100
Apr.
May
1094 June
112
Feb.
99% Jan.
119% Mar.
1034 May
120
115
115
Feb.
May
Mar.
1174 Apr.
109
Apr.
1074 Jan.
99
Jan.
604 May
1044 May
97
May
1174 May
116
May
108
99
May
May
1174 May
107
May
Mar. 1144 July
July 1044 June
from aotual sales.
BONDS.
1
bonds, J. A J. ...1892-1898
Special tax, Class 1
87
Feb.
Jan.
Apr.
May
Apr.
95% June 1024 Apr.
89% Apr.
834 Feb.
1094 Feb. 1134 Jan.
10878 Feb. 114 Apr.
104
May 107 June
50
June
664 Mar.
89
Mar.
844 Feb.
Apr.
1284 Mar. 131
1044 Jan. 1074 Apr
Muy
1334 Jan. 137
106
Mar. 1104 June
1284 May< 1334 Apr.
85
Jan. 1014 May
99
70
Jan.
May
80
654 Jan.
Apr.
117
July 123 Jan.
1254 Jan. 1284 Apr.
b.
b. 107
107
b. 104
96
53
101
Virginia Mid.—Inc., 6s, 1927—
Wab. St.L. A Pac. - Gen., 6s, ’20
Chicago Divisou—5s, 1910 —
Wabash—Mortgage, 78,1909..
due 1889 or 1890
Asylum or University, due 1892
1044 ! Funding
1894-1895
New York—6s, loan
106
1892
1
6s, loan
1893
North Carolina—6s, old
38
..JAJ
Funding act
1900
I.
b.
Jan.
grant, 7s, 1887-9
1 1034b. 1034b. |102
Sinking fund, 8s, 1893
! 1144b. 114% 114
Kan. Pacific—1st, 6s, 1895— 1144 a.i 114% a. ; 1114
111
b. 1124a. 1114
1st, 6s, 1896
114
Denver Div.—6s, 1899
j 1134W 116
10 4 b. 102%
1044
1st consol, 68, 1919
j
Oregon Sh. Lino -1st, 6s, '22..| 102 b. 102 b. 100
Chatham RR
100
85
107
b.
1014 Feb.
Laud
Bid.
,
Consolidated 4s
1910
6s
1919
Bid.
SECURITIES.
Ask.
Rhode Island—6s, con..1893-1894
South Carolina—6s, non-fund. 1888
Missouri—6s
New
98
70
117
127
108
110
Apr.
Feb.
Jan.
132
85
Highest.
122
121
107
133
90
118
114
1074b. 105%
So. Pac., N. M.—1st, 6s, 1911. ..
554
554
Tex. A Pac.—Inc. A Id gr, 7s, '15 57%
75 a.
64
754
Rio Grande Div.—6s, 1930 ...
67 b.
65
Gen. mort. A term., 6s, 1905..
98 %b. 98 b ! 89
Tol. A. A. A N. M.—1st, 6s, 1924.
Tol. A. A. A Gr.Tr.—1st, 6s. 1921} 106 b.! 107 a. ! 103
Tol. Peor. A West—1st, 7s, '17 . | 108 b. 109 b. 104
95 b. ! 95
Tol. A Ohio Cent.—1st, 5s, 1935) 964
115 b. 115 b. 114
Union Pacittc-lst, 6s, 1899
115
1906
,
1104
1304b.
1004
Lowest.
b. 118
117
b. 93
Do
reducod to 4 4s.. 98%
96
Shenandoah Val.- 1st, 7s, 1909 106 a.
a.
37
52
Gen’l mort., 6s, 1921
b. 96
99 a.
So. Carolina—1st. 6s, 1620
70 a.
a.
65
2d. 6s, 1931
15 b.
19
15 b.
Inc., 6s. 1931
114 b. 1104
So. Pac., Cal.—1st, 6s, 1905-12..
1114b. 110
So. Pac., Ari.—1st, 6s, 1909-10..
SECURITIES.
Ask.
10544074
1906
Class B, 5s
Class C, 4s,
1
103
.
Apr.
1154 May
119
126
105
..
4178
2d, inc., 6s, 1921
Oregon Irnpr. Co.—1st, 6s, 1910 98
Ore. R. ANav.Co.—1st, 6s, 1909 1084b.
1014
Consol., 5s, 1925
Oregon A Transoon.—6s, 1922.. 984
Peo. Deo. A Evans.—1st, 6s, '20. 1134b.
Income, 6s, 1920
Evansv. Div—1st, 6s, 1920... 111 4”
Income, 6s, 1920—
Rich A All.—1st, 7s, 1920, tr. rec 72""
Richm. A Dan.—Cons., 6s, 1915 112 a.
Debenture, 6s, 1927
Roch. A Pitts.—1st, 6s, 1921... 120 "a!
1134b.
Consol., 6s, 1922
Rome W. A Ogd.—1st, 7s, 1891.
1*014“
Consol., extend., 5s, 1922
1034b.
St Jo. AGd.Isl—1st, 6s, 1925
71 b.
2d, income, 5s, 1925.
St. L. Alt, A T.II.—1st, 7s, 1894.
2d, M., pref., 7s, 1894
105 b.
2d., M., inc., 7s, 1894
Dividendbds, 6s, 1894........ 47 a.
St. L. Ark. A Tex.—1st, 6s, 1936 99%
47
2d, 6s, 1936
St. L. A Ir. Mt.—1st, 7s, 1892...
113**“
2d mort., 7s, 1897
944
Gen. Ry. A land gr., 5s, 1931.
St. L. A San Fr.- 6s., Cl. A,1906 114 b.
114 a.
6s, Class B, 1906
1144a.
6s, Class G, 1906
Gen’l mort., 6s, 1931
So. Pac., Mo.—1st, 6s, 1888...
St. Paul M. A M.—1st, 7s, 1909. Ill b.
2d, 68,1909
1st cons., 6s, 1933
1144 May
99
107
....
Ohio Southern—1st, 6s, 1921.
1117 4 May
May
864*'
b.
1893 i04*b! *105**“
134 b.
1903
Springfield Div.—7s, 1905
994 May
109
103
54
86
North.Pacific—1st,coup.,6s, '21 115
1054
Gen’l, 2d, coup., 1933
James R. VaL-lst, 6s, 1936.. 105 b.
N. Pac.Ter.Co.—1st, 6s, 1933... 106 a.
Ohio A Miss.—ConsoL, 7s, 1898.
1154a.
2d, consol., 7s. 1911
STATE
SECURITIES.
debentures, 7s
1164"
Debenture, 5s, 1904
130 b.
N.Y.AHar.—1st, 7s, 1900
N.Y. Ohio. ASt.L.—1 at, 6s, 1921.. 9978b.
98 b.
2d mort., 6s, 1923
734b.
N.Y. City ANo.—Gen., 6s, 1910
N.Y. Elevated—1st, 7s, 1906.... 117 a.
N. Y. Lack. A W.—1st, 6s, 1921. 127 b.
Construction, 5s, 1923
N. Y. Ont. A W.—1st. 6s. 1914.. i'094b.
N.Y.8us. AW.—1st, 6s, 'll.op.ofl
Debenture, 6s, 1897, coup, ofl
Midland of N. J.—1st, 6s. 1910
N. O. Paciflo—1st, 6s, 1920
Mar.
Feb.
1214 Feb.
General, 6s, 1930
Trust Bonds, 6s, 1922
1
98
Jan.
10-40, 6s, 1924
Jan.
Lou. N. A. A Ch.—1st, 6s, 1910. 1114b. ill 4b. 109
98
! 93 Apr.
Consol., gold, 6s, 1916
1 98
Jan.
Mem. A Ch’lston—6s, gold, 1924 1024b. 104 a. 101
Jan.
Metro. Elevated.—1st, 6s, 1908.1117 b. 1174a. 117
108
108
May
108
2d, 6s, 1899
127
Mich. Central—1st, con., 7s. ’02 1284a.
May
116’'b! 1144 Feb.
Miss’riPac.—1st, cons., 6s,1920 11678
121
June
3d, 7s, 1906
125 a. 122
Feb.
Pac. of Mo.—1st, 6s, 1888
1034b. 1034b. 102
1054 July
2d mort., 7s, 1891
1104a. 1054
fi
Feb.
Mar. 137
1124b. 11278b. 1124 June 115
LakeSh.—Con.coup.,1st, 7s,1900
E. H. A N.—1st, 6s,
Jan.
102
-
Lou. A Nash.—Consol., 7s, 1898
N. O. A Mobile—1st, 6s, 1930.
Jan.
Jan.
Jan.
1094
1034 Jan.
106%a. 1064 May
2dM.,7s, 1905
a.
934 June
West. Division—1st, 5s, 1931.
924 Jan.
2d, 6s, 1931
107"” 99 Jan.
GFnB.W. A St.P.—1st, 6s, 1911
2d income 8s, 1911
47 b. 48 a. 38 Jau.
Gulf Col.ASan.Fe—1st,7s, 1909 1214b. 122 b. 1204 Jan.
1014 Jan.
Gold, 6s, 1923
103% 103
Henderson Br.Co.—1st. 6s, 1931 110 a. 1084b. 1064 Mar.
H. A Tex. C.—1st M. L. 7s
1174b. 1154b. 1124 Jau.
108
Mar.
1st, West. D., 7s, 1891
1144b. 116
1144b. 114 b. 113 Feb.
1st,Waco A N. 7s, 1903
2d, consol. M. L. 8s, 1912
108 b. 105 b. 94 Feb.
664 Feb.
Gen. mort. 6s, 1921
72 b.
Feb.
107
Dl. Central—1st, gold, 4s, 1951
95
May
Gold, 34s, 1951.
96 a.
1194 Jan.
Ind.Bl. AW.—lst,pref.,7s, 1900
96 a. 914 Jau.
1st, 5-6s, 1909
964
2d, 5-6s, 1909
85 b. 85 b. 774 Jan.
Eastern Division—6s, 1921...
95 b. 95 a. 91 Jan.
23
28
July
Income, 6s, 1921
Int. A Gt. Nor.—1st, 6s, gold,'19 115 a. 114 b. 1124 May
93
b. : 9278Juue
Coupon, 6s, 1909
934
2d, 7s, 1903
Long Island—1st, 7s, 1898
1st, consol., 5s, 1931
Jan.
Feb.
120
119%
1st pref.
N.Y. Central—Extend., 5s,
N.Y.C. AH.-1st, on., 7s,
June
Mar.
June
Jan.
May
130
108
..
116
105
115
81
1384 May 142
June 133
107
94
Con. coup.,
June
Feb.
118 b,
W.—1st, 6s. 1921.
Michigan Div.—1st, 6s, 1924..
Income, 6s, 1911...
Minn. A St. L.—1st, 7s, 1927....
87 a. 86%a
Imp. A Equip.—6s, 1922
964
Mo. K. A Tex.—Con., 6s, 1920... 964
85
844
Consol., 5s, 1920
113 a. 113
Consol., 7s, 1904-5-B
1124b.
Mobile A Ohio—New, 6s, 1927
1054b. i06*b'
1st, Extension, 6s, 1927
Mil. Lk. Sh. A
Mutual Un. Tele.—S. f., 6s, 1911
Nash. Ch. A 8t. L.—1st, 7s, 1913
June
b. 128
b. 117
b. 103
129
118
109
July l.'July 8
1064 May
1184 Mar.
117
934 Feb.
884 Feb.
Funded coupon, 5s, 1969. ..
894
884 Jan.
Ft. W. A Deny. C. -1st, 6s, 1921 9i%
Feb.
Gal.Har.A San. Ant.—let, 6s, '10 109 b. 109 b. 106
Kent. Centr.—Stamped 4s, 1911
Knoxv. AO.—1st, 6s, gold, 1925
Jan.
June
105
116
Feb.
Jan.
Jan.
Feb.
May
1184 June
1084 June
32
100
Jan.
Jan.
Jan.
June
10578 July 109 Jan.
103
July 108 May
1014 July 1054 May
118
N.Y.L.E.AW—2d con. 6s, 1969
90
109
Apr.
984 Jan.
1194 July
b. 1274b. 128
117
115
1st, So. Mm. Dlv.—6s, 1910.... 106 a.
1st, Chi. A Pao.W.Dlv—5s, '21
Wis. A Min. Div.-5s, 1921.... 104 b.
Terminal 5s, 1914
*
Chic. A N. W.—Consol. 7s, 1915
128 b.
Gold, 7s, 1902
118 a.
Sinking fund 6s, 1929
109 b.
Sinking fund 5s, 1929
110
Sinking fund debent. 5s, 1933 105 b.
25-year debent. 5s, 1909
Chi. R. I. A Pac.—68, coup. 1917. 131 b.
107 b.
Exten. A col. 5s, 1934
Ch. SLP..M.& O.—Consol. 6s. '30 121
St. Paul A S. C.-lst, 6s, 1919
Ch.St.L.A Pitts.—1st,con. 5s,'32
C. C. C. A Ind.—Geu. 6s, 1934 .. 108 b.
Col. Coal A Iron—1st, 6s, 1900.. 1034
Col. H. Val. A Tol.—Con. 5s, '31 7934
Gen. gold, 6s, 1904
Denver A Rio Gr.—1st, 7s, 1900 120 b.
804
1st con. 4s, 1936
Den. A R. Gr. W.- 1st, 6s, 1911. 78 b.
Den. So. Pa. A Pac.—1st, 7s,
Feb.
Jan.
114 *%b. 1134 Feb.
Denver Divis.,
Consol. 7s. 1905
Feb.
Jan.
109
b. 1054 Jan.
b. 8378 Jan.
a. 110
Jan.
99
Jan.
Exten. coup., 4s, 1986
23
22
b.
6a, currency, 1918
964a. 95 a. 964
Mort. 6e, 1911
101
Ches. O. A So. W.—5-6s, 1911... 107 b. 1074
113%b. 115
Chicago A Alton—1st, 7s, 1893.
105 b. 1044
Ghlo.Bur. A Nor.—1st, 5s, 1926.
Ohio. Burl. A Q.—Deb.
Feb.
Mar.
a.
103
101
b. 117
384 June
Feb.
July
Range since Jan. 1.
Closing.
Railroad Bonds.
Highest.
Lowest.
July 1. July 8
RANGE SINCE JAN. 1, 1887.
BONDS AT N. Y. STOCK EXCHANGE, AND
Range since Jan. 1.
Closing.
Railroad Bonds.
[VoL. XLV,
consolidated 6s
1893
Tennessee—6s, old
1892-1898
Bi
own
Compromise, 3-4-5-63
; 234
1*18"
iioo
1244
New settlement—6s
5s
3s
'.
1912
1913
1913
1913
Ask.
64
108
106
1024
75
Virginia—6s, old
6s, consolidated bonds
6s, consolidated, 2d series
68, deferred, trust rec
12
*
July
BONDS—STOCK EXCHANGE
Bid.
SECURITIES.
Bid.
SECURITIES.
E. Term. Ya. & Ga.—1st, 7s... 1900
1930
Divisional 5s
E. & W.of Ala,,1st,con gld. 68.1926
Fe—4%s...1920
★
86
124% 126
Creek-lst gold, 4s.....1936
Balt. & Onio—1st6s, ParkB ..1919
6b, gold
1925 112*fl
Beech
R.AfiiRt/Yrad
Eliz. C. & N.—S.f., deb., 6s.
1st mortg., 68
Pacific Railroads—( Continued)—
West, Pacifio—Bonds, 6s
1899
No. Railway (Cal.)—1st, 6s. 1907
110
108
Col. Trust, 6s
Col. Trust, 5s.,
C. Br. U. P.—F.
Ut. So.—Gen.,
Eastern Division—1st 6s
Illinois Division—1st 6s
..1912
1912
Chesapeake <fe Ohio—
6s, gold, series A
106
1908
Registered
Chicago & AltonSinking fund, 6s
1903
Louis. & Mo. River—1st 7s.. 1900
2d 7s
1900
1907
2d, 6s
124
123
123
*122
116
1951
Gold, 5s, coupon
1st, guar. (564), 7s
.1894 117 120
1898
mortg. (360) ,7s
2d, guar. (188), 7s
1898
Miss. R. Bridge—1st, s.f. 6s. 1912 106
Chic. Burling. & Quincy131
Consolidated, 7s
1903
5s, sinking fund
1901
Iowa Div.-Sink, fund, 5s.. 1919 111*2
SiDking fund, 4s
1919 ★ 98*2 99
98
Plain, 4s
1921
Chic. Burl. & No.-Deb. 6s.... 1896 *
2d
'
Kal. & W.Pigeon—1st,
Det. M. & T.—1st, 7s
7s... 1890
1906
Lake Shore—Div. bonds, 7s. 1899
Consol., reg., 1st, 7s
1900
Consol., reg., 2d, 7s
1903
132*3
Mahon’g. Coal RR.—1st, 5s. 1934
Chi. R. Isl. & Pac.—6s, coup.. 1917
131*2
Long Island RR.—
Registered
N. Y. & M. Beach—1st, 7s.. 1897
Ext. & Col., 5s
1934
N. Y. B. & M. B.-lst,g., 58.1935
Registered
*
Louisville & Nashville—
89*2
Des Momes & Fort D.—1st,4s. 1905
Cecilian Branch-7s
1907
1st, 2*28
1905
89
Pensacola Div.—6s
1920
Extension, 4s
111
St. Louis Div.—1st, 6s
1921
Keok. & Des M.—1st, 5s —1923 109
98
1980
2d, 3s
98%
Centr. of N. J.—Interim bond certs.
Nashv. & Decatur—1st, 7s.. 1900
Chicago Milwaukee & St. Paul—
S. & N. Ala.—S. f., 6s
1910
1st, 8s, P. D
1898 130
1931
Louisv. C. & L.—6s
2d, 7 310s, P. D
1898 123
5 p. c. 50 year goldbds
1937
1902 126 1.27*2
1st, 7s, $ g., R. D
120
Pens. <fe At.—1st, 6s, gold.. 1921
1st, La Crosse Division, 7s..1893 117
Lou. N. O. & Tex.—1st, 5s
1934
1st, I. & D., 7s
1899
130
Manhat. Beach Imp. Co.—7s. 1909
1st, C. & M., 7s
1903 126*2
Mexican Central—1st, 7s
1911
1st, 7s, I. & D. Ext
1908 126
Ex coupons 6, 7, 8
1909
1st, S. W. Div., 6s
New assented, 48
1911
1st, 5s, La C. & Dav
1919 *103
Income bonds
129
1911
1st, H. & D., 7s
1910
Mich. Cent.—1st, con., 5s
1902
1st, H. &D.,5s
1910
6s
.....1909
Chicago & Pacific Div., 6s..1910
1931
Coupon, 5s
Chic. & Mo. Riv. Div., 5s
1926
Registered, 5s
1931
Mineral Point Div., 5s
1910
Jack. Lan. & Sag.—6s
1891
C. & L. Sup. Div., 5s
1921 *102*3
Milwauk. & Ncrth.—1st, 6s... 1910
119
Fargo & South., 6s, Assu ...1924
Exteusion, 6s
1913
1916
Inc. conv. sink-fuud 5s.
Milw. Lake S. & West.—
Dakota & Gt. South., 5s
1916
Conv. deb., 5s
.
1907
Chicago & Northwestern1925
96
Ashland Div.—1st, 6s
Extension bonds
1926
Minn. & St. Louis—
Escanaba & L. S.—1st, 6s... 1901
1909
Iowa Ext.—1st, 7s
Des M. & Minn.- 1st, 7s
1907
2d mortg., 7s
136
1891
Iowa Midland—1st, 8s
1900 131
Southwest Ext.—1st, 7s
1910
Peninsula—1st, conv., 7 s... 1898 130
Pacific
Ext.—
1st, 6s
1921
Chic. & Milwaukee—1st, 7s. 1898 120*3 121*2
131*2 Minn. & Pac.—1st mortg. 5s. .1936
Win. & 8t. P.—2d, 7s
1907 131
Minn. & N. W.-l&t, 5s, gold.. 1934
Mil. & Mad.-1st, 6s
1905 117*3
LI 6*
Mo. K. & T.—Cons.,2d, inc....l911
Ott. C. F. & St, P.-lst, 5s.. 1909
1890
H. & Cent. Mo.—1st, 7s
Northern Ill.—1st, 5
1910
Mobile & Ohio—Col. tr., 6s ...1892
Cl. Col. Cin. & Indianap.—
St. L. & Cairo-4s, guar
1931
1st, 7s, s. fd
1899 *
Morgan’s La. & T.-lst, 6s
1920
Consol. 7s
...1914
| 1st, 7s
1918
Consol, sink, fd., 7s
1914
I Nash. Chat. & St. L—2d, 6s.. 1901
Chic. St. Paul M. & O.1887
125*2 N. Y. Central-6s
Chic. 8. P. & Minn.—1st, 0s. 1918
N. J. June.—Guar. 1st, 48
1986
No. Wisconsin—1st, 6s
1930
j
Registered certificates
Chic. & E. Ill.—1st, s. f., cur.. 1907
i 16*4; N. Y. P. & O.—Prior lien, 6s 1895
Consol., 1st, 6s.
1934
116*2; N. Y. & New Eng.—1st, 7s....1905
Chic, & W. Ind.—1st, s.f., 6s.. 1919
1905
General mortgage, 6
1932 110 U23a! 1st
N.Y. Susq.&West.—ist,ref. 5s. 1937
Chic. <fe St. Louis—1st, 6s
1915
'
c
123*2^
2d, 4128
Chicago—
1st, gold, 48
N. Y. N. H. & H.—1st, reg.
Northern Pacific—
.1936
Registered
Cin. Jack. &Mac.—Ist,g.,5s.l933
Col. & Green.—1st, 6s
1916
Registered
Col. & Cin. Midland—1st, 6s..1914
Del. Lack. & West.—Conv. 7s. 1892
1907 130Si
Mortgage, 7s
Syra. Bing. <fc N. Y.—1st, 7s. 1906
Spok. & Pal.—1st, s. fd., Gs.1936
St. Paul & N. P.—Gen., 6s.. 1923
98ie
1926
2d, 6s
130
141
112
1937
4s. 1903
Helena & RedM’n-1 st,g.,6s.l937
N. O. & No. E.-Pr. 1., g., 6s ..1915
Norf. & W.—Gen., 6s
1931
New’ River— 1st, 6s
1932
fd., 7s. 1900
Consol, moit.,
110
1937
gold, 5s
1st, 6s, 1886
Scioto Val.—1st, cons.,
7s
1891
2d, 7s
105%
119
114
94%
114
97
1926
1910
St. Louis & Iron Mountain—
Arkansas Branch—1st, 7s*. 1895
Cairo & Fulton—1st, 7s
1891
Cairo Ark. & T.—1st, 7s....1897
102
92
St. L. Alton & Ter. Haute—
97
Bellev. & So. Ill.—1st, 8s. ..1896
Bellev. & Car.—1st, 6s
1923
90
St. Paul Minn. & Man.—
Dakota Extern—6s
1910
Min’s Un.—1st, 6s
1922
70*3 71*4
24*3 St. Paul & Duluth—1st, 5s....1931
8odus Bay & So.—1st, 5s, g...l924
108
Tex. Central—1st, s. f., 7s —1909
1st mortg. 7s
1911
Tex. & N. O.—1st, 7s
1905
Sabine Division, 1st, 6s
1912
104
i*0*9% Tol. St. L. & K. C.—1st, g., 68.1916
Valiev R’y Co. of O.—Con. 6s.1921
107
Vlr. Mid—Genl. 5s
1936
65
1043a 105
111
118
113
98
9*6*
Detroit Div.—6s
Cairo Div.—5s
Tol. &Wab.—Equip.
107*2
i'04%
106*2
100
73
*110
100*8
1921
Indianapolis Div.—6s
116
75"
1921
1931
bds.,7sl883
Quin. & Tol.—1st, 7s
Han. & Naples— 1st, 7s
ios"
N. W.
123
125
60
1890
Omaha Div.—Tr. Co. rec.1919
Clarinda Branch—6s.... 1919
St.Charles Br’ge—lst,6s.l908
No. Missouri—1st, 7s
1895
Wab. St. L. & Pac.—Iowa Div., 6s.
Trust Co. receipts
West. Union Tel.—Coup.
96
1909
Ill. & So.Iowa—1st,ex.6s. 1912
St, L. K. C. &N.-
111
94
106
50
7s.. .1900 116*3
Registered
Telegraph—'7s
Wheeling <fe L. E., 1st M. 5s.
101%
.1926
I.&R’y.—Consol., 6s. 1901
South Pitts.—1st, 6s
1902
Bir. Div.—1st con. 6s
1917
Col. & Hock. Coal & I.—6s, g.,1917
Term. C.
90*2
93
72*2
ioft"
84%
Income Bonds.
(Interest payable ij earned.)
Atlantic & Pacific—
Cential Division—Income.. 1922
106%
118*4 119% Cent. Iowa—Coup, debteertf’s
105
116*3
29
Chicago & East Ill.-Income.. 1907
D.—1st inc., 6s. 1905
Det. Mack. & Marq.—Inc
1921
Des M. & Ft.
107
Eliz.
City & Nor.—2d inc
1970
Ind’ap. Dec. & Spr.—2d inc.. 1906
Trust reoeipts
1888
107*3 Leh. & Wilkesh. Coal
Mobile & Ohio—2d pref. deben—
114
No price
Friday; these are latest quotations
made this week.
60
119
116*3
1904
,
70
...
*
120
101% Wab.St.L. & Pac.- Hav. Div.-6s.’10
Imp. & Ext,, 6s
1934 100
Adjustment M., 7s
1924 106
Ogd. & Lake Cli.—1st, 6s
1920
Bonds, 7s
1900
3d pref. debentures
Ohio & Miss.—Cons., s. f., 7s.. 1898 il*5
127
7s of 1871
1901
4th pref. debentures
85
General 5s
1932
1st, con., guar., 7s
1915 133 134is Ohio
N. Y. L. E. & West.—Inc., 6s.. 1977
Cent.—1st Ter. Tr., 6s... 1920
DeL & Hud. Canal—1st, 7s...1891 106is
Ohio Cent.—Min. Div.-Iuc. 7s 1921
Min. Div.—1st, 6s
1921
1st, ext., 7s
1891
100*3 Ogdensburg & Lake Champlain—
Ohio River RR.-lst, 5s
1936
Coupon, 7s,
1894
1920
Income
78*3 79*3
Omaha & St. L. R’y.—1st, 4s. 1937
Registered, 7s
1894
Rocli. & Pittsb.—Income
1921
Oregon & Cal.—1st, 6s
1921
Pa. Div., coup., 7s
1917 141
St. L.I.M.& S.—1st 7s, pf., int. acc’t
Panama—Sink, fd., sub., 6s... 1910
Registered
87*
Sterling I. & R’y, series B.—Inc.’94
Ptoria Dec. & Ev.—2d, 5s
1927
Albany & Susque.—1st, 7s.. 1888 10*2*
1896
Plain income 6s
111
&
Peoria
Pek.
U’n—1st,
6s
1921
1401st, cons., guar., 7s
1906
Shenandoah Valley—Inc? 6s.. 1923
75
2d M., 4*2S
..1921
Registered
Free List.
Pacific RR.—Central Pacifio—
1st, cons., guar., 6s
1906 119%
Cumberland & Pei u.—1st,6s.1891
114*4
Gold
bonds,
6s
1895
Registered
2d mort. 6s
1888
Gold bonds, 6s
1896 114*4
Rens. & 8ai\—1st, coup., 7s.1921 i*4*i"
Gal. H. & II. of ’82—1st, 5s..1913
114%
Gold bonds, 6s
143
1897
Registered
Jefferson RR.—1st, 7s
1889
Cal. & Oregon—1st, 6s
1888 100*8
Dec. Mack. & Mar. - 1st, 6s... 1921
N. Jersey South.—Guar. 6s...1899
Cal. & Oregon-Ser. B., 6 1892 103
Det. Bay C. & Alp. - 1st, 6... 193 3 107
1914
Morris & Essex—1st, 7s
138
Coupons off
*59
118
105
1898
1898
Atl. & Char.—1st, pr., 7s
1897
1900
Incomes
Rich. & W. Pt. Ter’l. Trust6s. .1897
8an Ant.& Arans.—1st,6s,’85-1916
,
Cin. I. St. L. &
1912 137*8
1912 135
128
2d, guar., 7s
Pine Creek Railway—6s of 1932
Pitts. Cleve. & Tol.—1st,6s... 1922
121*2 124
123
1922
125*2 Pitts. Junction—1st, 6s
122
Pitts. McK. & Y.-lst, 6s
1932
Rich.& Danv.—Assen. deb., 6s. 1927
103
.
•
2d, 7s
3d, 7s
2d, 7s
*
'12012
jl 34
1913
4th, sink, fd., 6s
.....189
St. L. V. &T.H.-lst, g.,7s. 1897
*
...
2d, 7s
Clev. & P.—Cons., s.
103
103*8 105
Pitts. Ft. W. & C.-lst, 7s... 1912
Indianap. D. & Spr.—
108
1st, 7s, ex. fund, coupon
1906
Lake Erie & W’n—1st, g., 5s.. 1937 102% 10271b
Lake Shore & Mich. So.—
114
Cleve. P. & A.—7s
1892 112
123
Buff. & Er.—New bonds, 7s. 1898
109
101
*104
*119
Registered
106
99
10ft
101
Pennsylvania RR.—
Registered
105
1905
116
Dub. & S. C.—2d Div., 7s ...1894
Ced. Falls & Minn.—1st, 7s. 1907
St. L. Jacks.& Chic.—1st,7s. 1894
1895
Consol., 6s
Con. 6s, ex coupon
Trust receipts
il*6*%
121*2
1897
1st, consol., 7s
Ches. O. & So. West.—2d 6s... 1911
108
1909
7s.
Gen. mortgage 5s
1931
Kan. City <fe 6.—1st, 6s, g.1916
Ft. S. &V.B. Bg.—1st, 68.1910
St. L. K.& So.Wn.—1st, 68.1916
Tex. & Pac.—1st, 6s
1905
1st, 6s, ex coupon
68
115%
c.,7s
Equipment, 7s
121
’
1908
1907
1895 105*
Extern, 1st, 7s
1909
St. Louis & San Francisco—
1919 *118
1st, 6s, Pierce C. <fe 0
.
Han. & St. Jos.—Cons., 6s
1911
Hous. E. & W. Tex—1st, 7s...1898
ni. Cent.—Sp. Div.—Coup.,6s,1898
Middle Div.-Reg., 5s
1921
C. St, L. & N. O.—Ten. 1., 7s. 1897
113% 114%,
115%
*114
106
Atch. Col. & Pac.—1st, 68.1905
Atch. J. Co. & W.—1st, 68.1905
••••••
50
1897
1898
1st, 6s
1st, 6s
1920
Ask.
114
116
118
119
113*4 114%
1896
Union Pac.—1st, 6s
..1921
4th, extended. 5s
1888 130* 102%
5th, 7s
1st, cons., fd. coup., 7s
1920
1st 5s
1906 109%
99*3
Reorg., 1st lien, 6s
1908
Consol. & col. tr, 5s...
1934
B. N. Y. & E.— 1st, 7s
1916 136%
Registered
N. Y. L. E. & W.—Col. tr., 6sl922
Minn. & St. L.—1st 7s, gu
1927
Buff. <fc S. W.—Mortg. 6s.... 1908 *9*6'
Iowa C. & West.- 1st 7s....1909
116*2
107
Evan. &T. H.—1st, cons., 68.1921
Ced. Rap. LF.4 N., 1st 68.1920 106
Mt. Vernon- 1st, 6s
1923 *il5*a
1st 5s
1921
Evans. & Indian.—1st, cons...1926
Buff. N.Y & Phil.—Cons. 6s...1921
Fl’t & P. Marq.—Mortg., 6s...1920
Trust certificates
96
Grand Rap. & Ind.—Gen. 5s.. 1924
General 6s,
1924
Trust certificates
Central Iowa-
Bid.
SECURITIES.
Ask.
1897
,...1919 *116
1923 *107
1920 *118*1)
Erie—1st, extended, 7s
2d, extended, 5s
3d, extended, 4*28
99
Bost, H.Tun. & W.—Deb. 5s... 1913
Burl. Cedar Rapids & Nor—
BONDS.
QUOTATIONS ON FRIDAY OF INACTIVE RAILROAD
Ask.
Railroad Bonds.
(Stock Exchange Price j.)
Atch. Top. & San.
49
THE CHRONICLE.
9, 1887.J
77
'99*
50
THE CHRONICLE.
[VOL, XLV.
Quotations in Boston, Philadelphia and Baltimore.
Bid.
Ask.
SECURITIES.
BOSTON.
BANKS.
411egh. Val.—7 3-10s, ’86 116V
7s, E. ext., 1910
110*2'
Mortgage, 5a
Mortgage, 4*28
Inc. 7a, end., coup., *94
Balt. A O.E. Side—Certs.
Belvid’e Del.—1 st.0s,19O2
Cons. m. 4s.*/1927
Ben's Gap— 1st, 7b, 1893.
1st, 6s, 1905
IC2*a
Trust, 6a
Bur. A Mo. in Neb,—Ex’t,6s
120
6s non-exempt
$1033*
4a
Land grant, 7a...
California
ala So.—6a
So.—f
115*2
88
103*2
1033i
OOMPAN’S
1U6
Gen., 7s, 1903
104
Consolidated 6a
Incomes
Pueblo A Ark. Val.-7a..\$ 119*2
Rutland—1st 6a
108
6a
Southern Kansas—6 s
101
Incomes
92
Sonora—7 s
lOd *4
Wisconsin Cent.—1st aer. 4
2d aeries
55
Penn.—2d, 7s, 1896..
104*2
Debenture 6s, reg
Norfolk A West.—Gen.,6s
N. R. Div., 1st, 68.1932
N. Y. Phil.A Nor.—1st, 6s
108*2
101*2
95
107*2
97 *2
56 34
hty
Preferred...
Kan. C. Springf. A Mem.
Little Rock A Ft. Smith.
Louisv. Ev. A St. Louis..
Preferred
Maine Central
Manchester A Lawrence.
Sunb.ALewiat’n 7s.C,.’96
Syr.Gen.A Corn.—1st, 7s.
Tex. A Paq.—1st, 6s,1905
80
2
no
106
49
1
61
Gen.,4s, void, 1923....
139
Warren A F.—1st, 7s,’96
West Chester—Cons. 7s..
Marq. Hough t’n A Onion.
1923
CANAL BONDS.
Ches. A Del.—1st, 0s,1886
Lehigh Nav.—4 *-.8, 1914.
Mort. RR.,reg., 1897 ..
180
136
9
Preferred
44
Summit Branch
Wisconsin Central
10*2
22 *2
Preferred
Worcester Nash’aA Keel.
Pennsylv.—6s,
12
«■
10*2
11
Preferred
Catawissa
1st preteritd
40
15
42
Central Ohio—Com
2d
4*s'
Parkersburg Br
108
104
..
101
*2'102
121*4
.
30
5C*2
125
105
98
122 *2
115
preferred
Delaware A Bound Brook
East Pennsylvania
Elmira A Williamsport..
47
141
35
112
Preferred
56*2
Little Schuylkill
Miuehlll A Sch. Haven...
55
55
Nesquehoning Valley....
£4*-,
Northern Central
North Pennsylvania
7 i”
56
Pennsylvania
Philadelphia A Erie
Phila. Ger. A Norristown
Phila. Newtown A N.Y..
Phila. A Beading
Phila. Wilm. A Bait
United N. J. Companies..
West Jersey
55
2S *s
2*1*5*’
£8
West Jersey A Atlantic..
ColumbiaA Greenv.—late
£6*4
2ds
No. Central—4
216
I
I
Ex-cLvidtnd.
t Per .-Laie.
7*c
Canton endorsed
Virginia A Tenn.—5s
121
166
103
iii
106*4
1:5
108 *<2 114
102
75
79
41*« 40
10
30
104*2 105*4
84
108
86
121
122
no
119
no
109
119
I
8s
7s
2 I ast price this
118
120
v
eek,
108
60
105
80
55
102
79
160
115
08
100
Matual (N. Y.)
Bonds, 6s
Nassau (Bklyn.)
101
122
100
102
106
98
100
Scrip
'
110
134
124
121
Bl’okerSt.A Fult.F.—Stk.
1st mort., 7s, 1900
8r*dway A 7th A v.—St’k..
1st mort., 5s, 1904
2d mort., 5s, 1914
B’way Surface bds.gnar,.
Bonds guar., 5s. 1905
Brooklyn City—stock
1st mort., 5s, 1902
28
112
N. Y. Fire
108
175
IOO
175
105
180
100
180
j 95
..
Niagara
;160
North River 100
Pacific
170
Park
10
Pet’r Cooper 170
100
People’s
Phenix
120
140
Rutger’s
Standard.... 105
55
Sterling
Stuyvesant. 118
United St’es 140
Westchester 140.
1
! I
no
130
150
no
63
125
158
170
280
Williamsb’g 270
GAS COMPANIES.
(
Bid.
Ask.
People’s (Bklyn.)
63
130
114
86
no
145
Williamsburg
Bonds, Gs
Metropolitan (Bklyn.)...
Municipal—Bonds, 7s
Fulton
B<
Municipal
nds, Gs
‘.
Equitable
Bonds, 6s
109
125
113
30
D. D. E. B. A
B.—Scrip, 6s
116
;Eighth A v.—stock
I rtcrip, 6s, 1914
lk 5
ID'4
42dAGr’nd St. F’ry—Stk
105 ^ |
1st mort., 7s, 893
100
42d St. Manh. A St. N.Ave
100
1st inort., Gs, 1910
170
2d mort., income, 6s
no
-loust. W.St.AP. P’v--Stk.
175
1st mort., 7s, 1894
108
Ninth Ave
155
iso
1st morf.. 5’, 1910’
120
Consol., 7s, 1888
90
Sixth Av- stock
120
1st Euori., 7s, 1390
123
Third Av.-st"flK
lOi
104
160
106
165
105
150
IcO
116
Bklyn. Crosstown—Stock.
1st ruort., 7s. 1888
Central Crosstown—Stk..
1st morf., 6s, 1922
—..
Consol., 7s, 1902
116
Ohrist’ph rAloth St—Stk. 121
no
H2*a
112*3
Securities.—Quotations
j
Ask.
Bid.
76
At.APac.-istM.C.D.newB lOi
i*o*4
Host. M. T.A W est.—Stk.
Brooklyn Elev’d—stock..
1st mort
2d mort
Cape Fear A Yad.Val., 1st
('lies. AO., ser. B.def. scrip
Chic. A Atlantic.—Beuef.
Chic. Santa Fe A Cal 6s..
Cinciu. A Springfield
Cont.Cons. imp.Co.Tr.&tk
Coeur d’Alene
1st mo> t
Dul. S. fcliore A At.— Sik.
Pref
-
Mex.
87 *a
35
5
GO*-*
y.'.'.i
Belt 1st
100
A Atlantic....
West. RR., 1st M.
Rich. York Kiv. A Ches..
Rome A Decatur...
1 ittp. A
31
96
Specie.
14
10,057,200
9,70s,200
Jby 2 14 i,0l2,50l
8,^82,301
143,214,801
Juno 11.
“
18.
05
July
8
105 *a
90
•"••••
101
98
the Boston banks
L. T’nders.
Deposits.*
Circula’n.
Agg.CPngB
$
$
$
S
8
J’nelS 14 5,324,70(
1887.
98""
6*2
Incomes
West Va. RR.—1st, 6s...
a est, N. Car.—Con. M
Win. A St. Peter—Ext. 7s
Banks.—Following are the totals of
Loans.
f
*5
38**
10 7«
.
11
Ask
..
Pensucola
1st‘6s
“
200
105
245
112
Bid.
■
....
Kan. City A Omaha
1887.
175
115
206
107
255
114
no
N. Y. W. Sh. A B.—Stock
2*->
North. Pac.—Div. hands.. 100 "
101
102*4 10334
3
39*s
109
63
160
112
105
107
Nat.Construct’n Co.
:::::: Orange
6 9 Hi
110
215
117
1 OK
105
101
SECURITIES.
1st mort.. 6p
St. Louis Ft. S. A Wich..
Sr. Paul E.A Gr. Tr., 1st 6s
33
38
Tol. A.A.A Mt.Pleas.—1st
East, A West, RR. of Ala*
28
Tol. A.'A. A N. Mich
Edison Electric Lighi....
2*40* Tol. A O. Cent—Pief
Oeorgia Pac.—Stock
19
21 *v Pol. at. L.A
Kan.City, lbt
1st 6s
106
107 *., Utah Central.—1st.T....
2ds
55
57 V Vicksb. A Meridian
Kanawha A Ohio
4*u
5 V
Pref
1st pref
20
1st moi t
2d pref
7
10
2d mort
Boston
155
no
102
N.Y.Chi. A St. L.,iee.2dM.
Equipment 7s
N. Y. Cit3T A Northern
■
lsts
Keelv Motor
112
38
108
60
107
158
Exchanges:
Mexican National
1st morigage, tr. rec
Mich. A Ohio—1st M
.
109 *-j
85
from both
104
It 0
107
200
...
Bondp, 7s, 1S90
Twenty-third at.—stock..
l.*t rriorf., 7s, 1893
155
Amer. Tel. A Cable Co
75
Atch. A Pike’s P’k. IsttiaTUS
Alla. A Char. Air L..1st 7s
(i
122
Ask.
(
| City HR. Quotations by H. L. Gba.nt, Broker, 145
Broadway.]
2,786,800 112,192,300 10,080,500
2,107,000 l08,865,f)00 10,238,300
2,654.200 (04,07 l,20u 9,963,00U
Philadelphia Banks.—The
105
W.Md.—6s,3d,guar.,J.AJ
Wilm. C. A Aug.—6e
iWil. A W eiaon—5s
i
...
49
60
16
jUnion KB.—lst,gua.JAJ
61
50
CANAL STOCKS.
Schuylkill Navigation
do
do
Pier...
:
*2S, J. A J.
6s, 1900, A. A O
6s, gold. 1900, J. A J
5s, Series A
5s, Series B
Pittsh.ACon’ells.—7s J AJ
28*4
Lehigh Navigation
*
6
15
31
115
165
156
131
120
—
Huntingd’n A Broad Top 4 16*s
Lehigh Valley
91
00
l
107
!
130
87
91
65
80
85
135
215
100
110
10G
135
85
"0
103
103
150
Bid.
National.... 100
N. Y. Equit.i 165
130
145
150
90
j Bid. | Ask. lfi
SECURITIES.
I08s4
115S,
COM PAN’S.
250
95
,140
;Nassau
)
Gas COMPANIES.
Unlisted
86
13
160
125
Dry Dk. E.B.A Bat’v—Stk uo
1st mort., 7s, 1893
no
105
100‘s
no
f Ask.
jManuf’c.A B 120
*
{ 75
Bondp, 7s, 1898
48*2
Inc
Baltimore A Ohio—4s
Cen. Ohio.—6s, 1st,M.AS.
Chari. Col. A Aug.—1st..
2d
Cin. Waeb. A Balt—lets.
2d s
3da
1st Inc., 5s, 1931
45
Preferred
128
United St’ep 210
I Mechanics’
jMercantile..!
'Merchants’.:
iMontauk....i
Jeut. Pk. N.A R. Kiv.—Stk
60
Western Maryland
60
RAILROAD BONDS.
Atlanta A Chari.—1st.i..
210
....
...
50
Pref
142*i> ShooALeath 140
StatoofN.Y. 125
Third........
Tradesmen’s 104
.Howard
75
Jefferson.... 125
iKings Cn_... 200
IKnickerb’k r 85
Long Island 1100
.Lafaj ette...; 100
Consolidated Gas
130
118
2d, 6s. reg.. 1907
BALTIMORE.
RAILROAD ST0CK8. 1
128
**3*l“
Hanover.... 135
jllome
14 5
Jersey City A Hoboken...
Metropolitan—Bonds
1910..
RAILR’D STOCKS.tPai
Atlanta A Charlotte
'Baltimore A Ohio ...100
1st pref
2d pref
141
117
25
142
..
Bonds, 5s
111
130
1911--..
cp.,
172
Gas and City Railroad Stocks
and Bonds.
[Gas Quotations by Geo. H. Prentiss A Co.,
Brokers, 49 Wall Street.]
1*2*2*"
Schuylk. Nav.—1st,6s,rg.
42’
PHILADELPHIA.
Bolt. N.Y. A Phi).,as8.pd.
Preferred
5
Camden A Atlantic
reg.,
168
...
Brooklyn Gas-Light
Citizens’ Gas-LigLt
reg.,
Cona., 7s,
128*
125
...
Greenwich.. 220
Guardian
73
Hamilton
125
310
lllS
Globe
511*3**
123 ”
1st, 7s. 1899
Mexican Central
15
15*6
Cons. 6s, 1909
M. Y. A New England... 2 50^4
W. Jersey A Atl.—1 st,6s,C. 107
129
Preferred
Western Penn.—6s, ceup. 107
Werthern
150
108
6s, P. B., 1896
Norwich A
6s,
128
131
...
1G6
Ask.; COMPAN’S. Bid.
105
Germania... 1150
W.Jersev—1st, 6s, cp.,’96
Preferred
Ask.
200
130
187
Pacific
155
Park
170
,People’s.
160
Phenlx
no
Republio
136
St.Nicholas. 121
j7th Ward... 118
i Second
220
145
145
...
Bid.
N.Y. Count*
N.Y. Nat.Ex
Ninth
N. America.
North Riv’r.
Oriental....
188
Nassau
173
100
165
190
210
125
125
115
40
230
260
no
115
130
Firemen’s**. 100
German-Am.300
103
Consul., 6s, 1905
Union A Titusv.—1st, 7s.
United N. J.—Cons.8s,’94
Cons. 6s, gold, 1B01....
Cons. 6s, gold, 1908
'77*'!™.
Worcester...
Ogdensb. A L. Champlain
Old Colony
Portland Saco A Portsm.
Ports. Gt. Falls A Con’y.
Rutland
Bid. 1
Continental.; 225
Eagle
24 0
Empire City 100
Exchange... 160
Farragut.... 125
110
111
2d, 6s. 1938
102
r
2 133
Sunhury A Erie—1st, 7a.
Sunk. llaz. A W.—1st, 5s
114
34
—
'134
124
Gen., 6s, g., coup., 1908
Gen., 7s, coup., 1908—
72 34
Income, 7s, coup.. 1896
Conv. AdJ. Scrip,f85-89
95
Cons. 6s, 1st ser.,0.,1922
Cons. 6s, 2d ser.,0., 1933
05*4 66
Debenture coup., 1893. i 50
|,.
6034
Conv., 7s, R. C., 1893...
87
Chic. A West Michigan..
Chun. Sandusky A Cleve. i
26*2
Cleveland A Canton
9*2 10
Preferred
38
Col. .Spiliigf. A Cin
Concord
Deferred incomes, cp...
Connecticut River
Phil.Wil.A Balt.-4s.tr.ct
Conn. A PasBumpsic
113
112
Pitts. Cin. ASt.L.—7s
Dot. Lansing A No., pref.
Pitts. Titus. A B.—7s,cp.
Eastern
ShamoklnV. A Potts.—7s
Pref err (Ml
Fitchburg, pref.
1
...
Creek—1st, 0s, coup..
Pennsylv.—Gen., 0s, reg. 132*21
133 *2
Gen., 6s, cp., 1910
124
Cons., 6s, coup., 1905...
1*13*2
Cons., 5s, reg., 1919
;ii3*s
4*23, Trubt Lean
118
Pa. A N. Y. C.—7s, 1896.
132*2
7,1906
04
Perkiomen—1 at, 8s,cp.’87
95
Cheshire, preterred
Chic. A East’n Illinois... #111 ^
Chic. Burl. A Nortli’n
86
121*2
Oil
STOCKS 1
Atchison A Topeka
113U 113»4 Phil.AErie—lst,7s,cp.’88
Boston A Albany
*20 J
|2U5
Cons., 6s, 1920
Boston A Lowell.
*169 1171
Cons., 5s, 1920
Boston A Maine
222V225
Phila. Newt. A N.Y.—1st
Boston A Providence
230
Phil. A R.—lst.,68,1910..
Boston Con. A M.. pref..
2d, 7s, coup. A reg-,1893
Boston Revere B. A Lynn *160
Cons., 7s, reg., 1911 —
California Southern
:o*2
Cons., 7s, coup., 1911..
Central of Massachusetts *25*
Cons., 6s, g., 1.R.C.1911
Preferred
49*'
Imp., 6s, g., coup., 1897
BANKS.
1
162
Metropolit'n
New York
100
180
200
Citizens’.... 117
120
City
Clinton
110
Commercial. 35
142
Inc., 6s, 1933
123
Manhattan..
Market.;
VIechanics’.
M’chs’ATrs'
Mercantile..
Mercnants’.
M’rch’ts’Ex.
147
Bowery
Broadway...
Brooklyn
10134
IthacaAAth.—1st, gld.,7s
Leh.V.—lst,6s,C.AR.,’98
No.
J
.
1K7
American... 165
Amer. Exch. 90
2d, 7s, reg., 1910
Cons. 6s, C.A R., 1923..
122
125
Ask.
Insurance Stock List.
[Quotations by E. S. Bailey, 5*a Pine St.]
Harrish’g—1st, 6s, 1883..
H.AB.T.—1st, 7s, g., 1890
2i*o
103
177
130
Bid
210
Garfield
•-0J
Germ’n Am.. 113
Germania.
205
Greenwich.. 112
Uanover... 170
Im. A Trad’s’ 330
138
Irving
Leather Mfs’ 208
*1*35*
173
BANKS.
G illatln
144
68, perpetual
6a
6a,
Ogdensb.A L.Ch.—6a
Commerce
Continental.
Corn Exch...
"last River..
11th Ward.
I
275
132
150
Fifth Ave... 700
First
1500
Fourth
14 0
Fulton
150
Br.—1st, 7s
Duluth Short L., 1st, 5s.
East Penn.—1st, 7b, 1883
104*2
EastonAAmh’y—5s, 1920
56
EL A Wmsp’t-l st,6s, 1910
23
2d a,
j 180
..
104 34 105
Cons. 5s, 1895
Scrip
95*2
Debenture, 10a
95
N.Mex.A So.Pac.—7a
§....
JN. Y. A N. England-78..
America
174
Am. Exoh... 141
260
Broadway...
Bntchs’A Dr 161
Central
Chase
200
Chatham
210
Chemical... 2400
Citizens’
133
300
City
Del. A Bound
Scrip
7a..:.
Income
ASX.
...
;Col. AC. M.—1st,68.1914
Connect’g 0s, cp., 1900-04
: 26
112
102
114
Bid.
....
Amboy—6s, c.,’89
Mort., 6s, 1889.
66*2 Cam. A Atl.—1st,7s,g.,’93
95
2d, 6s, 1904
127
Cons., 0 p. c
Catawiasa— 1st, 7s, con. c.
New 7a, reg. A coup
new..
Frem.Elk H.AMo.V.-6a..
K.'C Fort 8cott A G.—7a! 118
K. City Lawt. A So.—6a.. 2114 *3
K. City St. Jo. A C. B.—7a
X. City Hp’d A Mem.—6s
K.C. Clint. A Springf.—5a
Little R. A Ft. S.—7a
onisv.Ev.ASt.L.—lst,Gs 104
?dfuort
52 *a
Mar. H. A Ont.—1908, 6s, 101*2
1925, 6a
Mexican Central—4b
71®b
110
Cam. A
101*2
66
Cons. Vermont, 5a
20
Buff. N.Y.A Phil.—1st,6s
1st, Tr. 6s, 1922
114
Incomes,.
18
Con., 6s, 1913
Income 68
Clue. K. C. A West’n—5a.
Flint A Pere Max^^otte.
Preferred
Bank Stock List.
Ask
RAILROAD BONDS.
At<hA Topeka—1st, 7b.
Land grant, 7a
Plain, Sal
E^at’rn, Mass.—6s.
Bid.
New York Local Securities.
:
SECURITIES.
-
totals have been
as
follows:
Loans.
Lawful Mon’y
Deposits:*
$
S
89.218.S00
S
24.547.-5 00
$
8m,911,200
c8.642.300
24,Or 7.500
88,370,000
89.321,»00
3,426,250
25.02:,100
88,360,600
2.
89,140.600
24,354.700
8c,808,400
inoiuding the item “due to other Uau*Q.'
85,949,451
09,7c6,4ei)
Circula’n
3,4 4 1,050
8,43y.630
3,3ii 1 9jU
’
$
9,876,448
74,984,923
66,817,918
7 6,690,913
f
CHRONICLE.
THE
1887.]
July 9,
City Banks.—The following statement shows the
condition of the Associated Banks of New York City for the
week ending July 2. 1887:
New York
Bank*.
Loans and
$
12 170.000
9.7*9.000
New York...,
Manhattan Co
Merchants’
Mechanics’
America
Phenix
2,580.000
474.000
3.1*6.000
9.023 300, 3,698.100
318.500
2.593.000
241.100
1,376,000
Tradesmen’s
Fulton
Chemical
Merchants’ Exch.
-Gallatin National.
Butchers’ & Drov.
Mechanics’ & Tra.
Greenwich
Leather Manuf’rs.
^Seventh Ward
Btate of N. Y
Americ’n Exch’ge.
19.018.200
3,246.100
6.392.700
2.014,300
1,916.000
1.220.400
3.114.200
1.350.600
3 831,600
17.221.000
17.950.100
Commerce
6.527.600
7,209 000
3,085.700
8.268.300
Broadway
Mercantile
Pacific
Republic
4.667.400
l,930.3i 0
3.019.300
Chatham
Peoples’
North America...
Hanover
10.318.700
2,863* 90
2.829.600
2.619.400
3.096.20,'
2.120.70c
3.191.000
Irving
Citizens’
Nassau
Market
6t. Nicholas.......
Shoe <fc Leather...
Corn Exchange
6.941,000
4.766.700
...
Continental
Oriental
Importers’ A Trad.
Park
„North River
East River
Fourth National..
Central National..
Second National..
Ninth National....
First National
Third National....
N. Y. Nat. Exch...
2.200 000
19.750,000
18,481,101'
2
7.239.000
659.100
795.200
371.500
101.C00
129.300
409.800
267.100
641.400
2,(’95,000
2.640.800
975.700
1.407.70(*
$
9*0.000
514,000
891.600
199,000
227.400
102.400
517.200
349.100
339,401*
61.700
260.000
126.400
■Sixth
National....
Western National.
96*606
97,300
4.173 309
623.800
1,87--*,000
2,110,000
263.700
1,185.000
14.701.000
897.700
349.500
403.000
12,5*6,800
1,010,900
5,079.600
6,968.000
45.000
3.40.8.700
854,700
2,053,500
1,627.900
8,536.000
69*200
783.000
220.200
328.700
4,750.000
45,000
333* 00
91,100
501.500
3.782.800
197,000
655.100
195.800
2.532,000
3.489.900
450.900
607.200
12.504.200
45,000
40,700
472.500
294.000
2,846,000
3.103.600
3.388.100
494,V00
288.900
100 400
2,660,000
68,500
607.00<>
940,000
311.000
514.300
211,v*00
4.765,4 00
669.000
2.022**00
3,254,000
6,110**00
6.255.700
2.240,000
21,85 d, 100
21.773.700
2,228.000
1,002,800
19.469,000
7,779.00 •
3.975.000
5.561.700
Id,3 <9.700
4.969.600
3,972*» 00
125.000
235.900
4,469.000
885.000
639.000
166.100
226,000
280.500
1,030.400
1**91,300
137,000
73,800
847.500
954,000
288,000
380.400
504.600
342.600
1.404.300
293.900
1.261.800
2.403.400
2,8-2,200
2.180.900
6.279.20 *
3.752.500
2,910 200
2.628.500
88.700
285.600
117,0i 0
313,100
297.600
4.120.400
919.800
2.607.400
1.951,800
690.500
474.600
4 3,600
129,-00
151.400
1.630.400
386.400
1.4e0.500
100 90.)
306.500
264.800
1,967,5.10
1,899 100
2Z 0.200
295.500
898.800
164.700
2.194.100
5.771.900
556,000
S6&, UOo
3,27 1,500
4.419.900
3.174.200
2.261.500
1,725.90 *
6.234.200
2.333.500
181,200
2.014, 30-»
363,553.200 73,238.200 22.133.200 367.081.300
45,000
Ro^ds.
45,090
2*24)600
360,000
45,000
43,000
45,000
435,900
2*6*1*109
222,400
180,000
*45)066
8,309 000
1887.
1886.
1887.
9
$
-Allegheny Val.. April
Aten. T,
ac
S.f..
148,391
163,606
1,553,719 1,198,173
72,695
84,600
May
Atlanta A Cliar.. May
Atlantic & Pac. 3d wkJune
Balt. A Potomac May..'
Buff.N.Y.A Phil. 4th
Buff. Roch.APitt
Bnr.Ced.R.ANo.
Cairo V. & Chic.
Cal. Southern. .r.
I:*
tCamden A Atl’e May
|
Canadian Pacific 4th
"
June
Central of
NT. J... April
Central Iowa... May.......
Central Pacific. April
Charlest’11 A Sav May
*.
£
f;
[l
■Chesap. A Ohio. May
Ellz.Lex.AB.8. May
Ches. O. A 8. W. May
f■
Chic. A Alton... March
Chio. A Atlantic 4tli w June
Chic. Burl. A No. April
1
1?
(i
&
w
I
7,549,759
5,683,014
478.9)0
511.646
53,423
48,887
14,065
26,116
11,9331
314.420
12,933
732,273
49,744
41,706
302,000
293,000
18.438
387,596
15,229
182,145
4,689,•-'SO
105,056
1,998,473
70 900
Cp.F’rAYad.Val May
Central of Geo.. April
I
id
June
4tL*wJuuc
2d wkJune
4th w.Tune
4vliw,Tune
w
545,832
94,301
1,088,999
35,697
358,491
80,124
134,411
715,755
61,481
33.707
*
111,665
403,335
108,492
913,617
$
618.856
1,256,996
578,593
68,400 1,257,372
26.330;
940,264
49,522 1,256,507
53,232
124,672
1886.
631,910
523,999
1,200,637
618.165
1,148,452
2-0,020
305.435
161,186
4,100.342
90,152
3,405,411
1,873,915
3,023,294
523,292
500,987
3,724,363* 3,346,313
2 27,820
217,100
1,670.845 1,497**19
335,417
326,061
634.380!
607,661
1,972.673 1,712,625
36.491
307,293
63,128
113,692
612,647
1,016,750
36,802
705,655
829,245!
207,742
2,152,072 1,981,677 11,135,274 9.374,827
Q.. May
939,720*
793,023
Chic. AEast. ill. 4thwJune
32,965
40,973
Chic. Bur. A
-
,
659,324 11,200,000! 10,637,876
Chic. A N’thw’n. April
1,839,334 1,720,617 7,531,470! 6,713,2)9
Chic.St.L.APitts May
35*,796 2,179,*70 1,786,757
I 41o,356
Cliic.St.P.M.AO. April......
540,660 479.533 1,861,7k0 1,735,701
6 60, *09
Chio. AW. Mich. 4thwJune
643,694
31,482
32,834
Cin. Ham. A D.. 4 tu tv J une!
67,467 1,527,187* 1,303,0 *7
80,440
Cin.Tnd.St.L.AC. 4t li tv June.
63,230
59,267 1,273,635 1,202,568
174,50 s
Cin.Jack.AM ick 3d wkJune!
8,225,821
193,021;
Cm. N. O. <xT.P. 13d wkJune
55,016 1,476.2991- 1,202,506
57,867
672.139!
512,288
Ala. Gt. South. i3djtvkJjuiie
25,598
19,113
282.904
N. Orl. & N. E. 3d wkJune!
6,401
297.208
9,327
226,073
Vickab. & Mer. 13d wkJune
229,493!
5* 79
6,587
185,899
5.447
Vicks. 8h. A P. 3d tvkJ une!
223,533
6,031
92,024 2,898.673! 2,409,671
Erlanger 8yst. 3d wkJune! 104,502
Cin. Rich. A Ft. W. 3d wk June
7,048
161,906
179,738
6,455
910,216
4 4,357
Cin. Wash. A Bali j ith w June
986,567
49,013
233, 92
10,689
Clev.Akron&Co! ,3d tvkJune
243,353;
11,572
Clev. & Canton May
127,759
142,362!
31,290
29,25 4
j
1.640,856! 1,469,9 54
295,771
Clev.Col.C.A Ind May
3**5,897
112,83*
127,061'
Clev. A Marietta May
22,486
23,90*1
Col. A Cin. Mid tth tv June
134,579
9,722
146,920
7,490
817, -'80
167,7S8
Col. Hock.V.AT. May.......
1,046,403
189,509
25,701
Col. A Rome
28,321
3,383
2,951
May
80,383
19.501
85,600
18,239
Danb’y A Norwk May
4th
w
June
631,000
k
*
...
1 And Branches.
3,526,445
2,879,941
71,250
46,067i
31,458;
78.945
373,69)
169,302
545,370
365.036
44.070
353,168
33,77
23.206
31,801
62.946
3,471
22,058
50,685
18,080
8,095
47.882
36,530
334,02 s
28,024
160,007
36,934
103,952
398.323
1,262,356
511,963
281,168
436,046
999,158
8,063,730
177,124
731,765
166.843
46,137
OLCentdllLASo) June
Cedar F.AMln. May
Dub.ASioux C. May
Ia. Falls A 8.C. May
842,806
9,589
71,697
55,375
793,675
Tot. Iowalines
Total all lines.
Ind. Bloom.A W.
Ind. Deo. A 8pr.
Jack. T. A K. W.
12 <.741
142.695
318,175
252,063
744,599
971,547
47,1*10
936,370
43,951
5,994,000
1,199,076
29,371
29,543
26,706
17,326
36,084
28,276
4,238
66,753
32,804
June
Juno
4
th
w
Jnne
May
May
44.664
SLC.Ft.S.AGulf. 3d tvkJune
Kan. C. Sp. A M. 3d wkJune
Kan. C. Cl. A Bp. 3d tvkJ une
36,680
3,873
77,400
Kentucky Cent. April
Keokuk A West. May
Kingston A Pem 4th tv June
21,039
8,344
4th
w
June
.
Louis v.N.O. AT. May
Manhattan El... May
Mur. A No. Ga
Apr.l
Mar. Ho ugh. A O. 3d wkJune
.
Memphis AChas. 3d wkJune
♦Mexican Cent’i.
*Mex.N. (N.D.v)
do
(So.Div;
do
all lines
Mich.C.ACan.So
Mil.L.Sh.A West.
Milwaukee A No
4tli
w
June
May
2d w kjune
May
June
4tli w June
4th w Juno
Minneap.ASt. L. April
Minn.ANo. West,
Miss. ATenn.
Mobile A Ohio.
Mash. Ch. ASt.L.
N.Y.Cen.AH.R.,
N. Y. City A No.
cN.Y. L. E. A W
N.Y.Penn.A O.
N.Y. ANewEag
N.Y.Ont. A W...
N. Y. 8ua. AW..
Norfolk A West.
ith
w
June
May
May
May
4th
w
June
Northern Cent’i.
Northern Pacific
Ohio A Miss
Ohio Southern..
223,533
773,179
934.0o3
5,497,112
1,130,999
149,532
109,651
1,112,588
659,* 46
lie,949
99,913
120,613
li 8,476
162,475
238,767
1,237,107
79,586
2,321**53
211,634
16,958
151,626
5 2,8 .6
18.261
514,207
331,189
577.253
1,843,266
237,688
455,522
157,173
734.282
701,590
104’,227
70,24*5
43,227
16,647
73,9o3
47.760
15,022
350,762
44.883
103,651
659,491
*32,210
14,913
20,666
113,552
42,068
22,862
177,110
110,519
13,572
23.520
159,095
172,330
253,*01
N’tliea8trn(3.C.) May
65,318
341,633
21,014
16,717
82,484
51 *03
19,454
396,715
59.929
114,917
726,181
9,460
34,157
27,593
115,095
39,923
2,850,040 2,664,245
10,872
11,094
Wk J’ne 25
1,805,935 1,601,735
May
5L4.915
430,911
May
303,313
313,610
May
May
1,039,207
5,249,402
45,620
6,217
June
4thwJuue
835.622
7,437,873
127,443
596,927
1,029,675
4,723,932
906.583
8,603,557
98,847
1,326,300
132,566
463,865
7,397,726
1,019,151
805,004
3,381,203
3 1,470
345,188
733,920
51,398
aLakeE.AWest. 4tliwJune
L. S. A Mich. So. June
Long Island
14.206
74,057
45,927
70,744
562,584
1,760,006
66,414
329,841
1,075,184
456,791
164,582
298,936
2,235.254
Gall Col. A 8. Fe. April. ..
Hous.ATex.Cent 3a wkJune
.
42,600
175,400
170,888
20,721
73,2 *7
18,708*
12,620;
87,591
Grand Trunk... WkJ’ne25
..
45,000
46,400
4’,000
133,20j
1886
215,900*
87,274|
4.862j
Georgia Pacific.. May
Gr. Rap. A Ind.. 3d wkJune
La. A Mo. Riv.
March
Loi is.Ey jzSt.L. 4tli tv June
Lon bv. jc Nashv. 4th tv June
Lou.N.Al.AChic.’4th w Juno
Jan. 1 to Latest Date.
Earnings Reported.
Week or Mo
E.Tenn.Va.AGa. 3dtvk.Tuue
Evans. Alnd’plis 3d wkJune
Evansv. A T. H. 4th w June
Flint A P. Maro. 4th w June
Fla.R. & Sav.Co. 3d wkj une
447*6*0*6
RAILROAD EARNINGS.
Latest
Det.BayC.A Alp. May
Det-Lans’gANo. 4th w June
Lehigh A Hudson May
982*600
1887.
1886.
$
4*3*3*700
45*6*0*6
Jan. 1 to Latest Date.
Reported.
1»87.
Gn.BayW.ASt.P May
.
168.100
2.510.300
3.826.600
2.077.700
Metrop.
Geaboard
3,6*5.600
Week or Mo
Ft.W.ADen.City 3d wkJune
203.000
180.700
858.700
145.100
92.600
2,411.200
45,000
637.700
44,100
116.000
241,000
128.*^00
3,637.30.0
45,000
2.279.800
1.326.400
208.700
Chase National....
Fifth Avenue
German Exch’nge.
Germania
United States
Lincoln
Garfield
Fifth National
12,200,000
10,347.000
7,133800
193 000
89,400
201.700
202*’Oo
County
Gerwan-Aineric’n.
$
$
"*2*600
957.000
N. Y.
tion.
1,230.300
1,159,900
4.961.900
1.466.700
2.461.400
2.344.900
2.500.900
6,297 900
Circular
9,059,300
2,862.000
10.521.700
2.168.900
1.123.500
21.400.200
186.000
276.000
Latest Earnings
Roads.
Deny. A Rio Gr. 4tli tv June
Denv. A R. G. W. May
7.012.000
426 400
5,097,200 1,237,000
19,319,600' 3.623.300
Bowery
Total
05^,000
1,239 200
19.187.600
7.917,000
3.285.d00
other
than U.S.
lenders.
2,170,000
6.694.200! 1,272,500
8.447.000 1.656.000
10.936.700 1.378.300
City
B’k of the
West Side
Legal
Specie.
Discounts.
Net Deposits
51
42,390
87,204
53,675
36.761
447,236
375.696
78,337
33,690
198,241
480,345
43,384
107,770
70.403
37, >13
May
495.670
4th w Juno
3d wkJune
June
335,011
8 4,442
36,708
304,804
420,000
742.252
6,933.632
86,712
1,222,505
121,177
374,017
6,330,533
785,132
629,798
3,0 / 8,535
6,361,000 5,436,000
942,769
1,444,404
201,690
441,403'
447,619
496,834'
178,381
504,115!
157.442
175,912
826,421
953,474'
902,663
1,213,209'
16,728.151 14,912,612
258,786,
242,266
7,778,668 6,986,975
2,354,504 2,327,307
1,626,745 1,476,507
660.442
588,390
419,730
510,416
1,854,273 1,423,106
256,999
247,872
2,527,189 2,149,864
5,399,193 4,987,257
_
2.6,5fl
269,498
1,100,661
763,676
1,829,750 1,849,579
Oreg. K.AM. Co. May
4,865,040 4,178,58c] 21,458,866 18,914,063
Pennsylvania... May
Peoria Deo. AEv. 4thwJuuo
19,280
412,595|
337,367
18,352
326,6 84 J 1,466,*18 1,335,328
Phila. A Erie— May
308,438
Oregon Imp. Co. April
1,778,081 1,642,7711 8,378,5861 7.041,388
1,396,356 1,305,112 6,040,284 5,121,229
53 7,754
757,81 L
127,4 14
146,712
141,854
17,339
152,) 63
22,755
tPhila. A Read’g May
Coal A Iron Co May
Pitts. A West’ru May
P’rtRoyalAAug May
P’rtRoyalAW.C. May
12.83b
13,583
June
Juno
Juno
June
June
June
301,000
125,000
43,200
26,500
51,10°
269,834
8.800
June
Rioh.APetersbg. May
Rome W. A Og.i April
4,500
Riohm’d ADauv.
Va.Midl’d Div.
Char.Col. A An.
Col. A Gr. Div..
West.No.C.Dh
Wash.O. AW..
Ashy. A Spar..
St. Jo AGd. Isl :4th w June
St.L AltonAT.II. 4th w June
Branches. ...J.4ih w June
St. L. Ark.ATex. 4th wT June
S&.L.ASan.Fran. Uth w June
St.L.Van. A T.II June
So.Pttui A Duluth 4th w June
Sc.P.Min.AMan. Jnne
Scioto Valley... May
Shenandoah Val. May
South Carolina.. May
So. Pacific Co.—
Gal.Har.AS.A. April
Louis’a West. April
Morgan’s LAT April
1,992,497
728,641
1,889*,29>
368 8 0
250,553
376,SOS
300,629
44.028
30 <,070
240.143
8,300
1,800
49,600
43,600
121,908
4 4,489
24,052
213,9*39
237,290
17,664
30,376
18,785
27,577
18,331
18.930
37,870
121,36
227,463
47,387
61,193
147,392
281,656
47,644
613,080
Tol. A.A.AN.M’h
Tol. A Ohio Cent.
Tol. P. A West..
Union Pacific...
Valiev or Ohio..
Wab. Western
♦West J* rsey—
Wil. Col. A Aug
..
4th
w
June
May
April
4th
w
June
May
May
Wheeling A L. E. 14 th w J .me
Wisconsin Cent’i 14th w J une
Min. St.C.A W. 4th
Wis. A
.Mine
Minn..'4th w Juno
w
546.984
567.551
6)9,199
1,003,280
2,675,685
328,202
730.274
2,046,464
674,624
3,454,109
2,947,518
422.59
'
576,500
2 -0.521
248.6 O
6 *,849
54,763
320,638
240,921
68,94*“
58,416
470,536
458,591
276,943
61,513
316,894
15,648
261.152
975.183
63,166
839.902
2o5 205
82,485
242,877
1,314,848
47,527
362,583
2,943,019
7,345,621
10,2*8,639
354,718
449,908
2,236,297
9,058
18,439
O 4,'57
225,011
469,417
2,148
309,307
13,044
21,606
72,927
2,188,27
May
802,695
58.733
362,545
1-
4*liwJune
87,54*5
9l)355
876.262
540.065
479.- 94
46.731
11,959
N. Y.T. AMex. April
92,575
Tex. <x N. Orl. April
95,597
Atlan’c syst’m April.......
766,594 ,795,148
Pacific system April
2,119,190 1,758,525
Total
2,885,784 2,553.673
April.-
StatenIs.Rap.Tr June
Texas <& Pool no May.
686.719
/
50,205
177,451
114,340
47. 04
18.197
03.695
12,925
25.520
s
1,426.013
41.063
307.844
2.823,798
6 603.614
9,427,412
311.538
2,095.893
153,553
357.430
4.148
339.192
*2,151,162 10,515,064
9,106.599
4 4,515
12 2,027
104,327
45,622
10,341
76.802
15,14 '
6,435
3
196,233
164,932
2,927,098
2,572,439
469 803
430.259
304.807
293.792,
265,910
3-14.711
978.158
235.131
427.88
lnelmtmg Brauchef..
"Mexican ourreuey.
Including since Feb. 1st in both years the Ind. 1 eru A Chlo.
1 Not including Central of New Jersey in either vear.
t
a
c
Not including earnings
of New York Pennsylvania A Ohio.
731,137
112,443
84.248
THE
52
CHRONICLP
litxrjestmetxt
[VOL. XLV|
/
Name of Road.
Tol. & Ohio Cen....Gross.
Net...
AND
May.—^. r—Jav. 1 to May 31.—,
1887.
1886.
1887.
.1886.
$76,137
$73,401
$391,926 $291,276
18,163
20,709
129,173
85,280
/—Jan. 1 to Apr. 30.—,
-April.—
'
Jlailrchd %uUllx%mtt.
Central Pacific
The Investors’ Supplement contains a complete exhibit of
the Funded Debt of States and Cities and of the Slocks and
Bonds of Railroads and other Companies. It is published
on the last Saturday of every other month—viz., January,
-
March, May, July, September and November, and is fur¬
nished without extra charge to all regular subscribers of the
Chronicle.
Extra copies are sold to subscribers of the
Chronicle at 50 cents each, and to others at $1 per copy.
ANNUAL
REPORTS.
Alabama New Orleans Texas & Pacific Junction Railways
Co.. Limited.
(For the year ending December 31, 1886J
The report for 1886, submitted at the meeting of stock
holders in London on July 7, has the following :
“The revenue account shows that the sum of £113,776 lls.
lOd. was received during the year 1886 in respect of coupons,
interest and rent from the different securities and properties
in which your company is interested, from which must be
deducted loss in working the Spanish Fort Railroad, and
grounds in New Orleans, and expenses for Creosote Works,
together £6,13619s. 8d., leaving £107,639 12s. 2d., out of which
the coupons on first debentures due October, 1885, and April
and October, 1886, were paid as hereafter mentioned.
The greater part of the above amount was, it will be seen,
“
received from the New Orleans & Northeastern and the Vicks¬
1887.
Gross.$1,088,999
Net...
484,535
Lake Eric & West..Gross.
Net...
S. Pac.R.,N.D.(CaI.)Gross.
Net...
S. D. (Cal.)Gross.
Net...
New Mex. D.Gross.
Net...
Ariz. Div...Gross.
Net...
'
14->.380
1886.
116,438
46,824 def 10,331
134,721
108,876
59,574
50,73 2
301,958
227,961
70,511
31,20
76,559
5-<,305
38,429
23,846
16 >,235
119,200
72,421
46,6b6
Atchison Topeka & Santa
1887.
1886.
$913,617 $3,724,363 $3,346,313
443,441 1,545,573 1,665,235
470,536
168,260
1,094,190
245,733
251,905
109,938
578,125
242,325
357,050
135,844
936,766
244,904
225,132
112,499
504.312
263,182
Fe—Chicago & Grand Trunk.—
At Chicago, July 2, a meeting of the directors of the Chicago
& Grand Trunk Railway formally ratified the sale to the
Atchison of various pieces of Chicago real estate, valued alto¬
gether at about $1,000,000.
Part of the land between Four¬
fronting on State Street is to
site of its principal freight
teenth and Sixteenth streets and
be used by the Atchison as the
depot.
Baltimore & Ohio, —The circular of Messrs. John A. Hambleton & Co., of Baltimore, on July 2, said: “ The event of the
week was the announcement that Mr. Garrett had exercised
his
option to purchase the 17,500 shares of Baltimore & Ohio
stock, at 175, held by the trustees of Johns Hopkins Trust.
We have reason to believe that Mr. Garrett has closed with
the trustees of Johns Hopkins University and that he has
accepted their offer to sell, and he has made a large
payment
purchase.
account and arranged
to
complete the
It is to be inferred that, as Mr. Garrett has pur¬
chased this large block of stock, he will also buy from the
individual holders who have given him an option a sufficient
amount of stock to secure a controlling interest.
We have
been, as has every one else, undecided whether the famous B.
& O. deal meant an absolute disposal of a
controlling interest
in the stock of the company or only a combination of inter¬
ests with other companies.
If Mr. Garrett accepts the offer
of a majority of the stockholders to sell it is to be presumed
that he will do so for the purpose of making an absolute sale
of the same, as was at first reported to be the case.
—The hearing in the Baltimore & Ohio case against the State
of New Jersey for the building of the Staten Island bridge
comes up on
Tuesday before the U. S. Circuit Court at Trenton,
Canadian Pacific.—Montreal dispatches state that the
tender of the Canadian Pacific Railway for the English mail
on
burg Shreveport & Pacific Railroad Companies, whose securi¬
ties represent the chief interest of your company, since nearly
two and a half millions sterling have been invested in the two
properties. Whilst the results of their working have shown
improvement in the past year, the receipts have not been so
large as was anticipated, and the net earnings have fallen
short of the fixed charges. Consequently the amounts paid
by these two companies had, to a large extent, to be provided
out of the proceeds of the prior lien bonds, the creation of
which was authorized by the arrangement made in 1885. It
will be remembered that under that arrangement the New
Orleans & Northeastern and the Vicksburg Shreveport &
service on the Pacific includes au offer to contract for the
Pacific Railroad Companies engaged to pay in cash to your
ocean service at a speed of 15 instead of 11
knots, and to build
company the sum of £150,000, in respect of the coupons due its boats under
Admiralty
supervision,
so that they may be
January, 1886, to July, 1887, inclusive, on the first mortgage
bonds of those companies held by your company, leaving the readily converted into armed cruisers, for a subsidy of £100,000 per annum.
In addition it offers to carry the China and
balance of the nominal amount of those coupons to be
Japan
mails for 3,500 miles across the continent of Ameriaa
funded.” * *
free of charge, and to carry troops and Government stores
Of the $1,372,000 prior lien bonds of the New Orleans &
over the same distance of land and over the ocean at cost
Northeastern Company authorized in 1885, $878,000 have
price,
thus making the route an imperial highway. The sub¬
been sold, and the whole of the prior lien bonds of the Vicks¬
sidy is calculated on the price per mile which the British Gov¬
burg Shreveport & Pacific Company ($1,323,000) have now ernment pays the Peninsula & Oriental
been disposed of.
The latter are quoted on the London Stock riage of the India and China mails via. Company for the car¬
Suez, and by this esti¬
Exchange.”
mate the amount of subsidy for a fortnightly mail service
The earnings of the New Orleans & Northeastern and the
each way between Vancouver and Hong Kong would be
Vicksburg Shreveport & Pacific are given below: the earnings
£105,000
per annum.
The tender of a German company asks
of the Vicksburg & Meridian have already been given in the
for the Pacific service alone, to be performed at a
speed of 11
Chronicle.
* '
“
New Orleans cC X. E.—
Gross earnings
...
'
Net earnings
‘Prior charges
-
....
knots.
1835.
1886.
$698,165
$101,941
$661,235
$123,857
7G;6 42
50.097
Balance
....
Vicksburg Shreveport <& Pacific—
Gross earnings
Net earnings
‘Prior charges
....
....
Balance
....
$51,844
$53,215
1885-6.
Nine mosA
1886-7.
Ni/ic mos. t
$406,799
$171,674
$15 4,746
63,678
33,140
$<7,969
Central Pacific.—The following is
a comparative state¬
earnings, expenses and fixed charges of this com¬
pany for April, and from January 1 to April 30.
The
mileage is 1,382, against 1,307 last year :
ment of the
April.
■
1887.
Gross
earnings
Oper.
expenses
s
1886.
/—Jan. I to Apr. 30.—,
1887.
$1,088,999
604,464
$913,617
Net earnings
Add rentals
$484,535
Total net income....
Fixed charges*
$484,579
460,917
$1,5 45,753
$23,662
4,821
def. $297,916
55,416
$18,341
def. $353,331
1-86.
470,173
$3,724,363
2,178,785
$3,3 46,313
1,681,078
$443,444
$1,545,578
$1,665,235
44
175
$91,068
‘Prior charges include taxes, Interest on car rental notes and interest
©n prior lien bonds, which charges precede the interest on hrst mort¬
gage bonds.
i Fiscal year ends June 30, and these earnings are for nine months
Net profits
Construction &
ending March 31.
Balance
*
GENERAL INVESTMENT NEWS.
Railroad Net Earnings.—The following table shows the
latest reports of net earnings not heretofore published.
imp
1,843,669
Fixed charges include rentals, interest, taxes and U.8. Gov. Sink. Fd.
Chesapeake & Delaware Canal.—The Chesapeake & Dela¬
ware
Canal Cos.’ statement shows the
revenue
for the year
ending May 81, was $199,212, from which were deducted
expenses of $54,027, leaving a net revenue of $145,184. In¬
/—Jan. 1 to May 31.—«
May,
terest paid during the year on the legitimate issue of the
Name of Road.
1887.
1886.
1887.
1886.
Atoh. Top. & S. Fe..Gross. $1,553,719 $1,198,173 $7,549,759 $5,688,614 mortgage ($1,993,750,) was $109,656, so that there was a surplus
Net...
There was recovered from the estate of Wilson,
658,172
504,749 3,491,922 2,329,161 of $35,528.
Halt. <fe Potomac.... Gi oss.
124,672
111,665
578,593
523,999 the absconding treasurer, $18,556—making a total surplus of
Net...
52,446
43,192
191,251
192,354
From this was paid interest on the fraudulent issue
BurL C. R. &No
Gross.
216,788
211,355 1,155,025 1,047.509 $54,084.
Net.
26,0*2
41,803
292,883.
247,238 and investigation expenses of $39,279, leaving a net surplus of
Califoi niaBouthcrn.Gross.
118,256
58,123
634,798
249,005 $14,805, which was placed in the contingent fund. This fund
Net...
41,406
658
295,500 def. 40,608 now amounts to $84,504, an increase
during the year of $8,179,
Chic. Burl. & Q—Gross. 2,152,072 1,981,677 11,135,274 9,374,827
The total defalcation was $661,940.
Net...
785,631 5,133.433 3,905,057
867,105
Denver & Rio Gr. ..Gross.
611,241
510,068 2,878,296 2,324,=>56
Chicago Burlington & Quincy.—Of the $10,000,000 4s
Net...
258,253
172,684 1,100,546
744,500
East Term.Va.&Ga.Gross.
373,566
284,152 1,969,484 1,570,968 recently placed with a syndicate, it is stated that about $7,000,Net...
40,655
50,525
483,986
376,584 000 have been sold. There are yet two months for the syndi¬
Ohio & Mississippi.Gross.
296,162
298,035 1,593,400 1,42*,60.1 cate to make its final payment on the bonds.
Net...
87,502
512,970
76,786
340,495
Shenandoah Valley. Gross.
Chicago & Northwestern.—Since 1870 the Chicago & North¬
69,849
54,763
320,638
240,v-21
Net...
10,096
4,231
37,561
4,605 western Railroad Company has expended a total of $10,000,000
,
,
-
.
.
July 9,
THE
1887. J
CHRONICLE.
for betterments, side tracks, additional equipment, &c., out of
the surplus of earnings above dividends.
The directors de¬
cided last March to ‘‘charge this off,” reducing the cost on
the books from $126,000,000 to $116,000,000.
The rumors
regarding the retirement of $10,000,000 of bonds were probably
founded
the above.
on
show
an
53
increase of $50,550,784
over 1886, and the personal^
increase of $36,121,593.
The following table gives the relative assessed valuation of
the real and personal*estate for 1886 and 1887 as submitted to
the Aldermen, the total amount to be raised by taxation being;'
property
an
$34,342,022.
REAL ESTATE.
Cincinnati Hamilton & Dayton—Dayton Fort Wayne &
Chicago.—The directors of the Cincinnati Hamilton & Dayton Railroad have authorized the leasing of the Dayton Fort
Wayne & Chicago line in perpetuity. Two of the Vandalia
directors—Messrs. Josephus Collett and William M. Ramsay—
have resigned, and Mr. George H. Stayner, President of the
Cincinnati Hamilton & Dayton roid, and Mr. W. C. Boone,
Secretary of the Dayton Fort Wayne & Chicago line, have
been elected to fill the
Both of these gentle¬
vacancies.
The lease provides that the
road shall guarantee the prin¬
cipal and interest of $5,500,000 fifty-year first mortnage
bonds at four and a half per cent. The rate is $21,000 a mile
are
men
partners of Mr. Ives.
Cincinnati Hamilton & Dayton
for the consolidated road.
East Tennessee
Virginia & Georgia- -The gross and net
earnings for May, and from July 1 to May 31, have been
follows:
as
/—July 1 to May 31.—,
-Ifay.1887.
Gross
earnings
Operating
expenses
...
Net earnings...
1886.
22d..
23d
24th
$284,152
243,497
$1,361,329
2,816,942
$3,799,160
2,441,330
$50,525
$40,655
$1,544,337
$1,357,850
the usual dividend of 6 per cent upon the preferred
This change of policy occasioned some surprise, owing
stock.
to the recent transfer of the control of the road to the New
York Sc New England people. Col. William H. Stevenson,
Vice-President of the Housatonic, explains the matter as fol¬
lows
The present management decline to pay dividends
which are not earned.
In the past the policy of the road has
been to borrow money from the banks in the face of a large
floating indebtedness.
We intend to
pay
off this floating in¬
and then to pay an earned dividend on the
Those who own the great majority of the stock prefer
debtedness
stock.
soon
give up a year’s dividend rather than to borrow money to
pay one.
To pay one now would be much like borrowing
money for the sake of transferring it from one pocket to
another.”
There was no truth in the report that this road was to be
leased to the New York New Haven Sc Hartford.
to
Assessed Ynlnation 1887*
Increase.
$79,528,005
$737,242
34,565,587
199,200
240,830
38,626,265
4tli
5th
6th
7th.8th
9th
10th
11th
12th
13th
14th
15th
16th
17th
18th
19th
20th
21st
1885-6.
Honsatonic.—The Housatonic Railroad Company has voted
to pass
7Yards.
ltit
2d
1886-7.
$373,566
323,041
Assessed Valnation 1886.
13,210,803
13,341.595
46.376,907
24,625,641
17,300,057
39,262,103
29,769,823
18,226,297
17,163,706
134,031,832
158,113,407
24,679,727
10,673,465
24,994,770
56,262,553
38,212,529
34,402,508
78,770,587
211,635,940
37,857,127
Total
..
)
(
Resident
Non-resident
\...
Shareholders of banks.
Total
89,0^4.423
46,471,770
89,793,129
11,194.090
113,585,437
21,027,803
11,761,960
$1,203,941,065
$1,254,491,349
130,792
379,495
372,948
334,611
224,280
522,833
325,932
372,577
24,081,575
307,050
315,043
424,312
355,402
517,414
617,243
6,717,485
830.094
708,700
9.856,997
1,410,832
567,870
$50,550,784
PERSONAL ESTATE.
..
..
$148,470,530
$180,393,471
9,543,848
59,012,843
9,920,393
62,334,950
$217,027,221
Total assessed valuation for 1887
Total assessed valuation for 1886
$31,922,941
376,545
3,822,107
$253,148,814 $36,121,593
$1,507,640,663
1,420,968,286
Total increase in assessed valuation for 1887
$36,672,377
N. Y. New Haven & Hartford.—A special meeting of the
stockholders of this company will be held in New Haven,
July 14, at which meeting the following leases, executed on
the part of this company by authority of its board of directors,
will be submitted for the approval of the stockholders: 1. A
lease dated May 18, 1887, from the Stamford Sc New Canaan
Railroad Company.
2. A lease dated May 24, 1887, from the
Naugatuck Railroad Company. 3. A lease dated May 14,
1887, from the New Haven & Northampton Company. 4. A
lease dated May 24, 1887, from the Hartford Sc Connecticut
Jacksonville Tampa & Key West.—The earnings of the Valley Railroad Company. Each is for a term of 99
years
main line for twelve months, May 1, 1886, to April 30, 1887, from April 1, 1887.
are thus reported :
North Carolina Bonds.—The arrangement between the
Passengers
$184,998
Freight
134,011 United States Trust Company and Morton, Bliss Sc Co., on the
Other sources
53,323 North Carolina Special Tax bonds
embodies the following
plan
bonds
be
:
The
to
pooled
and
trust certificates issued!
Total gross earnings
$422,333
All expenses to bo advanced by Morton, Bliss Sc Co. Settle¬
Total operating exp< uses
$297,919
<—
Less proportion expenses for
River and DeLand branches
Net
S. *fc L. E., Indian
25,OCO
earnings...
-
272,919
$149,413
Jefferson.—The first mortgage 7 per cent bonds of the
Honesdale Branch of the Jefferson Railroad (operated by the
Erie) have been extended for forty years, at the rate of
cent.
ment with the State to be obtained on the basis of a new 4 per
cent bond in exchange for the present bonds, the distribution
to be as follows : Forty per cent of the principal of the present
bonds to go first to the certificate holders, other receipts from
the State to be equally divided between the certificate holders
and Morton, Bliss & Co.
per
Kansas Central—Union Pacific.—The bondholders of the
Kansas Central road have withdrawn their
receiver,
at
as
the Union Pacific has arranged to
application for a
pay the interest
once.
Long Island City & Flushing.—This railroad, of which Mr.
Austin Corbin is Pr« sident, has been mortgaged to the Central
Trust Company of New York for $1,250,000.
The mortgage
covers all of the company’s property between Long Island City
and Great Neck, the branch road to Whitestone, and the
extensions to Whitestone Dock, and all of the rolling stock.
Mexican Central.—Less than $900,000 Mexican Central 7s
outstanding, conversion into 4s being steady and the
constantly decreasing. The Mexican Central
Bubsidy receipts have run about $15,000 per month since the
first of January, since which time the company has received
1 per cent of customs receipts at Vera Cruz.
After July 1,
two per cent is received, making about $30,000 per month.
Milwaukee & Northern.—The gross and net earnings and
charges for the first six months of 1887 have been as below
given:
*
are now
amount cf 7s
Gross earnings
Operating expenses
$441,403
(including rentals)
272,484
$168,919
Net earnings
Fixed oharges.
96,900
Surplus
.'. $72,019
N. Y. Chicago & St. Louis.—It is stated that the Reorgan¬
ized Nickel Plate Company will take charge of the road Octo¬
ber 1, until which time it will remain with Receiver Caldwell.
Companies in New York, Pennsylvania, Indiana & Illinois
have been reorganized and the Ohio Company will be formed
this week. Sixty days’ notice io required before they can con¬
solidate.
New York City’s Valuation.—1The Board of Aldermen
have received from the Commissioners of the Department of
Taxes and Assessments the tax valuations as made up by that
department for the
year
1887.
The real estate valuations
Oregon
Improvement Co.—The
following
circular
is
issued:
To the Stockholders of the Oregon Improvement Company.—The extra¬
ordinary and continued stringency in the money market lias caused
such serious disturbances in financial circles duiing the past two weeks
that it has no doubt prevented the stockholders from subsciibing to
1 heir proportion of the proposed issue of preferred stock which was
offered to thorn iu circulars dated May 13 and June 6 respectively.
About 2,000 shares only have been subscribed for by tlio stockholders
and 6,000 shares by the bondholders, although subscriptions for several
thousand shares more had been promised by stockholdeis before the
disturbance of the money market became so serious. It Is so clearly
for the interest of 1 he common stockholders that the subscription be»
completed and the funds provided to carry out the plans mentioned in
the circular of May 13, that the management has decided to extend the
time for making subscriptions to the 15th of August next, after which
time the stock will be ottered to a syndicate which stands ready to take
all that at that date is not subscribed for.
By order of the executive committee,
Elijah
A statement
accompanying this circular
Smith, President.
says:
Since the previous circulars were issued the figures of the operation
of your company for the first six months of the fiscal year have been
made up. The result is exceedingly gratifying. For the six months
endir g May 31. 1887, the net earnings of the company were $379,891,
against $162,651 duriDg the corresponding period of the previousinc rease of $217,240, or 133 ^ per cent. The fixed charges and
sinking fund requirements of the company for the six months were
$175,000, leaving $204,891 applicable to the stock. The dividend upon
$2,000,000 of preferred stock at the rate of 7 per cent would require
for the six months $70,000, leaving $134,391, or nearly 2 per cent, ap¬
plicable to the common stock for the six months.
as
year, an
Perkiomen.—The Philadelphia Press reports that the
amended plan for the reorganization of the Perkiomen Railroad Company has been approved by the Reading reconstruc¬
tion trustees and the Reading receivers. The latter hold for
the Philadelphia & Reading Railroad Company a large interest
in the Perkiomen Company, and an issue of consolidated
mortgage 6 per cent bonds is guaranteed by the Philadelphia
Reading. Nearly four-fifths of the holders of the first
mortgage bonds had assented to the plan of reorganization first
submitted, and the amended plan contains modifications which
it is expected will make it
acceptable to all the bondholders.
The circular setting forth this plan bears endorsements of the
&
THE CHRONICLE.
54
[Vol. XLV.
Reports ami Dojcunieuls.
reconstruction trustees and of President Corbin and the
receivers. The amended plan provides for the cancellation of
the first and second mortgage bonds, and the satisfaction of
the mortgages given to secure their payment, without fore¬
ABSTRACT OF RAILBOAD MORTGAGES.
For the purpose of giving definite information in regird to
possible; if not, under foreclosure.
Security holders who accept the plan are tc deposit their the terms of leading Railroad Mortgages and Trust Deeds an
securities with the Pennsylvania Company for Insurance and
abstract of some of the leading instruments of this class will
Granting of Annuities between August 1 and September 80,
The committee of reorganization consists of Charles E. be published in this department of the Chronicle.
In the present, number the terms of all the Chesapeake
Smith, trustee o.f the first mortgage, Lindley Smyth, trustee
of the second mortgage, and James Boyd, assistant president & Ohio Railway mortgages are given, except the prior
of the Perkiomen Railroad Company.
closure if
lien
Philadelphia & Reading.—Hearings in Robinson fore¬
closure suit against Reading have been postponed until Septem¬
ber 12. Time for taking testimony will be extended until
purchase money funding mortgage due in 1898,
which
relatively of so small an amount and matures so soon that
it is not considered necessary to devote any space to a
The proposed new arrangement for
description of it.
October 10.
—The Reading Trustees have received about $5,500,000 for an exchange of the series “B” bonds and the 2d mortgage
assessments. Of this $3,000,000 were used to pay off receiver’s
currency bonds for other securities was adverted to in the
Certificates. With the balance, and the third and fourth in¬ March
1887, issue of the Investors’ Supplement.
stalments of the assessments, the trustees intend to pay off the
CHESAPEAKE & OHIO RAILWAY.
floating debt of $5,000,000. Then after paying the expenses of
reorganization, there will be a balance of about $2,000,000.—
FIRST MORTGAGE OF THE CHE3APEAKE & OHIO
JVoi'th American.
RAILWAY TO SECURE SERIES “A” AND “B”
Sarannah Griffin & North Alabama.—The Georgia Cen"
BONDS, DUE JULY 1, 1908.
tral Railroad has determined to foreclose its mortgage on the
Date.—July 1, 1878.
Savannah Griffin & North Alabama Railroad, on a claim which
Parties.—The Chesapeake & Ohio Railway Company, of the
repn sents $908,000, including interest.
first part, and the Central Trust Company of New York,
St. Lonis & San Francisco.—At St. Louis, July 5, Judge Trustee, of the second part.
,
Dillon rendered his decision upon the application of OppenProperty Covered.—“ The rights, privileges, interests, fran¬
heim & Co of New York, to set aside the recent election of
chises, lands, tenements, hereditaments and property of every
directors of the St. Louis & San Francisco Railroad Company.
description,
whether real, personal or mixed,” obtained by the
The court declares that Edward L. Oppenheim was elected a
company through purchase under the foreclosure sale April 2,
director at the election in May, and that Russell sage was not
1878, of the property of the Chesapeake & Ohio Railroad Com¬
elected. The election is not set aside, but Mr. Oppenheim
pany (being the entire railroad extending from a point on
steps into the seat of Mr. Sage, who had the lowest number of the James River, below Richmond, Virginia, to a point on the
votes.
The court said:
Ohio River, in the State of West Virginia ; and all rolling
“The stock did Dot stand in the name of Oppenheim & Co. on the
stock, stations, fixtures and other appurtenances “that may
books the day of the election, the man having charge of the hooks hav¬
be hereafter acquired for the use of said company in operating
ing allowed entries to he made showing a transfer from Oppenheim &
and maintaining the said line of railroad.”
Co. to Mr. Seligman. The company had a by-law to the effect that, the
transfer books should he closed for not less than thirty days prior to
Prior Lien.—The property is subject to the prior lien of a
is
,
the annual meeting of the stockholders. The Frisco Company gave
notice that the hooks would be closed on the 9th of Aptil and not opened
until the I3th of May, after the election. No transfers were shown to
have been made between ihe 9th of Anrilandthe day of the election,
except the one instance on the 10th of May, the day before the election,
If the by-law was valid and in force it is dear that the person
the entries of transfer on May 10 was not only actine without authority,
making
but in express violation of authority; and no legal effect can be given to
his acts.
If the by-law closing the books thirty days before the election should
“
he held invalid and the transfer made on the books on the 10th of May
recognized, a case wculd exist appealing very strongly to the court to
set aside the election. To allow transfers to be made on the books the
day before the election sufficient to control the election would be a
deception and a fraud. It is no answer to say that no one else applied
during those thirty days to have tianfers made. After the passage of
the by-law and published notice of the closing of the books, no one
would thiuk of applying for a ttansfer.
-
dated July 1, 1878 (purchase money funding mort¬
“will not in any event exceed the sum of
$2,350,000.”
Bonds 11A ” and “2?.”—'The bonds belong to two series,
“A” and “ B.” “The bonds of said series A and B are
secured by this indenture equally, without preference or
priority of either of said series over the other, or of principal
over interest, or of interest over principal.”
Farther Security.—The bonds of series “A” are further
secured, equally with $2,000,000 six per cent gold bonds of
1911, by a mortgage dated January 1, 1881, on the Peninsular
Division. See that mortgage below.
mortgage
gage), which
THE BONDS.
Six per cent Mortgage Gold Bonds of 1908.
Vicksburg & Meridian.—Satisfactory progress having been
SERIES “ ±>.
Series “A.”
made, the Reorganization Committee have extended the time
July 1, 1578.
for holders of securities to sign the reorganization agreement Date— July 1,1878.
$100, $500 and $1,000.
Denominations.—$1,000.
to August 15.
$15,000,000.
Amount Authorized.—$2,000,000.
but may bo registered as
Wisconsin Central.—The Boston Transcript says : “ We Coupon or Registered. — Coupon; Coupon;
to principal.
But may bo registered as to prin¬
are authorized by the officials of the Wisconsin Central to
cipal.
make the following explanation respecting the proposed plan Inlerebl Payable.—The interest is Six per cent per annum, payab’e
May I and Nov. 1 in New York
6 per cent per annum, and is
or reorganization :
City “ in United States Gold
“
payable in “ United States Gold
It is not a consolidation, but simply a new company is
Com.”
(The firot eleven coupons
Coin” April I and Oct. 1 in New
were payable partly in scrip.)
organized, which proposes to purchase, so far as it can, the
York City.
securities of the Wisconsin Central, Wisconsin & Minnesota, Principal Payable.—July 1, 1908 July 1, 1903. “ In gold coin of tbe
United States of America,” in
“In gold coin of the United
Ponokee and Minnesota St. Croix & Wisconsin railroad
New York City.
States of America,” in New York
companies. There are about 600 miles of road, and it issues
City.
None.
its securities as follows : First mortgage bonds, $12,000,000 at Sinking Fund.—None.
5 per cent; income bonds, $9,000,000 at 5 per cent, nonDefault.—If default shall be made in the payment of
cumulative ; preferred stock, $3,000,000 at 6 per cent, cumu-
stock, $10,000,000. It offers to the Wisconsin
exchange first-series bonds for
first-mortgage bonds, dollar for dollar ; eecond-series bonds
for income bonds, dollar for dollar ; preferred stock for pre¬
ferred stock, dollar for dollar for one half, and will purchase
the other half at fifty cents on the dollar, paying for it with
income bonds at seventy-five cents on the dollar.
The new
company will purchase the old common stock at forty cents
on
the dollar, and pay for it with new common stock
at fifty.
This is not compulsory, and parties preferring
not
to
sell on these terms need not do so.
This
proposition, however, is intended to be advantageous
Under the
to all holders of Wisconsin Central securities.
new arrangement the interest charges will be $1,230,000 per
annum, divided as follows: First mortgage bonds, $600,000 ;
income bonds, $450,000 ; and preferred stock, $180,000. The
aggregate amounts to $2,050 per mile. * * * There will
be 25 per cent less fixed charges per mile ahead of the new
common
stock than there is at present ahead of - the
old, and the expense of steel rails and other improvements
will not have to be provided for at the expense of the old
stockholders.” * * * “ As to the proposition being kept
from the public, the reason was simply this—the officers pre¬
ferred not to say what they wanted to do until they were
ready to do it* * * “ but as imperfect statements have
been made and the public have been misled to some extent
thereby, they deemed it best to state precisely what the plan
was.
They are only waiting for the new securities to be pre¬
pared, which will be ready in a few days.”
1 -ive ; common
Central Railioad owners to
principal of said bonds, or in case default in the pay¬
ment of interest “ shall be made and shall continue until
on
each of six successive due dates of coupons some
interest on the bonds secured hereby shall be in default
and unpaid, and if, as a further express and cumulative
condition, the holders of bonds representing, in the aggre¬
gate, at least a majority in amount of the bonds of each
series secured hereby, in respect to which such default may
exist, shall join in a demand in writing requiring the party
of the second part so to do, then, and not otherwise, the said
party of the second part shall have the right to enter upon”
operate the property.
The net income from the said
premises shall he applied in the discharge “ of interest, or
interest and principal, of the bonds secured by this deed, as the
holders of a majority in amount of the bonds of each series
secured hereby, which are then in default, shall determine.”
Or in the event of such default and such demand as afore¬
said, the trustee “may ” apply to any court having jurisdic¬
tion in the premises for a foreclosure and sale of the same.
Or under like circumstances “ it shall also be lawful for the
said trustee ” to sell all the railroad, etc., at public auction, at
Richmond, Virginia, and to apply the proceeds to the pay¬
ment of the principal and interest which shall at that time
have accrued, pro rata.
In event of such right of foreclosure and sale accruing for
non-payment of interest, as above provided, immediately
thereupon the whole amount of the principal of the bonds
secured by this deed shall become due and payable,” and this
provision is expressly declared not to be in the nature of a
and
“
July 9,
THE
1887.]
penalty, but to be
deed.
necessary to
effectuate the
purposes
CHRONICLE,
of the
55
shall stand, and the tracks thereto, and also all lands ^
tracks, stations, machine shops, round-houses and fixtures
at and between the junction of the main line and the terterminus at Newport News, and
necessary for the main¬
tenance and operation of said
railroad, and all locomotives
and rolling stock and other movable
property that may be
hereafter acquired for the use of said
company in operating
or
Rights of Trustees.—“ The right of action, under this deed,
exclusively in the party of the second part, trustee,
its successor or successors, and under no circumstances shall
any individual bondholder or number of individual bond¬
holders, have any right to institute an action either at law or
in equity on the bonds or coupons hereby secured, or under
this deed of trust for the purpose of enforcing the payment of
said bonds or coupons or of enforcing any remedy herein and
hereby provided, and all actions and proceedings for the pur¬
pose of enforcing the provisions of this deed shall be instituted
and conducted by the party of the second part, trustee, its
successor or successors, without any interference on the
part
of any individual bondholder or bondholders, until and unless
the holders of bonds representing in the aggregate a majority
in amount of all the bonds of each series secured hereby/in
respect cf which default shall exist, shall unite in requesting
the party of the second part, trustee, its successor or suc¬
cessors, to do or refrain from doing any particular act or
acts,
etc.” In case of such request made in writing the trustee
shall conform its action under this deed to such request, so far
as may lawfully be done ; and the
majority in amount of the
holders of bonds of each series secured by this indenture, then
in default, shall have the absolute right to control the action of
is vested
said railroad
on the Peninsular between the
points aforesaid,
together with all tolls, rents, incomes, issues and profits of the
premises hereby conveyed. ’’
Bonds secured.—First.—The series of bonds known as Six
Mortgage Gold Bonds of 1911 below described.
Second.—The Six per cent
Mortgage Gold Bonds of 1908,
Series “A,” amounting
in the aggregate to $2,000,000,
described in the trust deed to the Central Trust
Company of
New York.
The holder of any of the bonds of Series A is to have no
per cent
“
preference
son
or
of any
over any
holder of
priority in date,
or
any bonds of this series by rea¬
in the time of issuing the same
otherwise, but the bonds of the two series are to have
equality of lien on the railroad and property herein
entire
described.'5
THE BOND.
Six per cent
Mortgage Hold Bond of 1911.
Pate.—January 1, 1881.
the trustee under this deed.
denomination.—$1,000 each.
Amount
Any action of any trustee in disregard of the wishes of said
majority shall immediately create a vacancy in said trust, and
the authority of said trustee shall cease.
Authorized.—§2.0i 0,000.
Coupon or Registered.—Coupon: but may bo registered as to principal.'
Interest Payable—The interest is G
percent per annum, payable “in
United States gold colu” April 1 a,nd October 1. in New York
Principal Payable.— January ), 1911, “in gold coin of the United
of America,” in New York
City.
Sinking Fund.—None.
Appointment of Trustees.—It at any time it shall become
necessary to appoint a successor to the present trustee, the
appointment shall be made by the party of the first part; and
if said party shall fail to act within six months,
application
may be made by holders of bonds secured hereby to the
amount of $1,000,000 to any court having
jurisdiction for the
appointment of a successor.
City.
States
Default.—Provisions the same as in the mortgage for “ A*
July 1, 1908.
Rights of Trustees.—Provisions the same as in the mortgage
for “ A55 and “ B” bonds, due
July 1, 1908.
Appointment of Trustees.—Provisions the same as in the
mortgage for “ A55 and “ B 55 bonds, due July 1, 1908.
and “ B ’’ bonds due
SECOND MORTGAGE OF CHESAPEAKE & OHIO RAIL¬
WAY TO SECURE CURRENCY BONDS OF JULY 1,
1918.
FIRST MORTGAGE ON EXTENSIONS OF THE CHESA¬
PEAKE & OHIO RAILWAY, TO SECURE 0 PER
CENT GOLD BONDS OF JUNE 1, 1922.
Date.—July 1, 1878.
Parties.—The Chesapeake & Ohio Railway Company, of
first part, and Alexander B. Green and Isaac E. Gates,
the
Date.—June 1, 1882.
Trustees, of the second part.
Parties.—The Chesapeake & Ohio Railway
Company, of
Property Covered.—This mortgage is a next lien on the the first part, and Joseph P. Lloyd and
Frank H. Davis,.
property covered by the mortgage securing bonds not exceed¬ Trustees, of the second part.
ing $17,000,000 of series “A” and “ B,*’ due 1908, and is also
Property Covered.—This mortgage is the first lien on the
subject, like the latter mortgage, to the lien of adeed of trust extensions
of the company, as follows: First—The railroad
for a sum not exceeding $2,850,000, dated
July 1, 1878 (pur¬ built, or to be built,
from Newport News, in Warwick and
chase money funding mortgage).
Elizabeth City counties, Virginia, to Old Point
Comfort,.
THE BOND.
Elizabeth City County, Virginia, with two wharves to be built
Six per cent Mortgage Bond of 1918.
at Newport News, and such
buildings, erected or to be
Pate— July 1,1878.
erected, “as are and shall be necessary for the operation of
Denominations.— $100, $500 and $1,C00.
said railroad,'5 and all lands, tracks and water front on theAmount Authorized.—$10,122,500.
line
of said road belonging to said
Coupon or Registered.—Coupon; but maybe registered as to principal.
company, appurtenant toInterest Payable.— The interest is 6 per cent per annum, and is
payable and necessary for use in connection with the operation of said
January 1 and July 1 in New Y. rk City. For the tirst eight years railroad, and all
franchises, etc., pertaining thereto.
it was payable, wholl v or partly, in Second Preferred Stock of the
Second—All that railroad built or to be built from a
company, or in scrip convertible into such stock. After January,
point
1880, the interest was payable “wholly in lawful money of the on its line near the mouth of Scary Creek, Putnam
County,.
United States,” with the following proviso: that if the net revenues
West Virginia, to a point on the Ohio River, near the mouth
in any one year shall not be more than sufficient to meet prior
pay¬
of the Great Kanawha River, Mason
ments of that year “then the interest licreon for such year shall be
County, West Virginia,
payable and paid in Second Preferred Stock, anything in this bond and all franchises, privileges, etc., appertaining thereto. Also
or in f aid coupons to the
all
contrary thereof notwithstanding.”
lands, tracks, rights of way, stations, fixtures, rolling
Principal Payable —July 1, 1918, “in lawful money of the United stock, and other movable
property, that may be hereafter
States of America,” in New York City.
acquired by said company, for its use in operating said rail¬
Sinking Fund— None.
roads.
Default.—“ If default shall be made in the payment of the
THE BOND.
principal of said bonds at maturity, or in the performance of
Six Per Cent Mortgage Gold Bond of 1922.
the terms and conditions of said bonds, and if, as a further
•
express
and cumulative condition, the holders of bonds
repre¬
Dote.—June 1, 1882.
Denomination.—$1,000 each.
senting in the aggregate at least a majority in amount of the Amount Authorized —$3,1)00,000.
bonds secured hereby, in respect to which such default may Coupon or Registered.—Coupon ; but may be
registered as to principals
Payable.— The interest is 6 per cent per annum, payable. June 1
exist, shall join in a demand in writing requiring the parties Interest
and December 1 “ in United States gold coin ” in New York
of the second part so to do, then, and not otherwise, the said
City.
Principal Payable.—June 1, 1922, “m gold coin of the United States”
parties of the second part shall have the right to enter upon
in New York City.
all and singular the premises ” and operate, or apply
to the Sinking Fund.— None.
courts for foreclosure, or sell the property at auction, under
Default.—Provisions the same as in the mortgage for “ A”
exactly the same terms and conditions of sale, &c., as pre¬ and “ B*5 bonds due July 1, 1908.
scribed in the mortgage for series “A” and “ B,'5 above.
Rights of T rustees.—Provisions the same as in mortgage of
Rights of Trustees —Same as those of the trustees of mort¬ “A55 and “ B55 bonds due July 1, 1908.
gage for “ A ” and “ B ’’ bonds due July 1, 1908.
Appointment of Trustees.—Provisions the same as in the
Appointment of Trustees.—Provisions the same as in the mortgage for “ A” and “B55 bonds due July 1, 1908.
mortgage for “ A” and “ B'5 bonds due July 1, 1908,
New York Stock Exchange—New Securities Listed.—
The governors of the N. Y. Stock Exchange have added the
FIRST MORTGAGE ON THE PENINSULAR DIVISION OF
THE CHESAPEAKE & OHIO RAILWAY TO SECURE following to the list :
SIX PER CENT GOLD BONDS DUE JANUARY
1, 1911.
St. Paul Minneapolis & Manitoba.—Additional consol.
per cent bonds, No. 19,816 to No. 21,444, $1,629,000, mak¬
43^2
ing total listed $21,444,000.
Date—January 1, 1881. •
Northern Pacific—Aditioral 1st mort. RR. and land grant
Parties—The Chesapeake & Ohio Railway Company, of the
first part, and John Hillhouse and Edward St. John, Trustees, bonds, No. 52,510 to No. 53,359, $850,000, making total listed
$53,359,000.
of the second
part.
Minnesota & Northwestern—Additional 1st mort. bonds,
Property Covered—All the railroad of the said company, Ncs. 4,700 to 4,800, $101,000, making total listed $7,783,000.
Chicago Rock Island & Pacific—Additional 1st mort,
extending from a point on the main line of railroad of said
company, near Richmond, Virginia, to Newport News, Vir¬ and collateral bonds, Nos. 9,861 to 10,860, $1,000,000, mak¬
ginia, and all franchises, rights and privileges belonging thereto, ing total listed $10 860,000.
N. Y. & Perry Coal & Iron Co.—Additional capital stock
together with two wharves now constructed or being con¬
structed at Newport News, and the land on which they stand, $1,500,000, making total listed
$3,000,000.
“
(Vol. XLV.
THE CHRONICLE
56
COTTON.
Friday, P. M„ July 8, 1887.
The Movement of the Crop, as indicated by our telegrams
from the South to-night, is given below.
For the week ending
COMMERCIAL EPITOME.
this evening (July 8), the total receipts have reached 1,261
Friday Night, July 8, 1887.
bales, against 3,598 bales last week, 2,364 bales the previous
week and 3,549 bales three weeks since; making the total
The intense heat has delayed the resumption of the regular receipts since the 1st of September, 1886, 5,194,203 bales, against
order of business, and for the next fortnight a quiet state of 5,273,397 bales for the same period of 1885-86, showing a de¬
affairs may be expected. The heavy payments for account of crease since September 1, 1886, of 79,194 bales.
Total.
Fri.
Thun.
Wed.
Tues.
Mon.
interest, dividends and pensions, and the calling in by the
Sai.
Receipts at—
Federal treasury of the outstanding three per cent bonds*
1
43
10
5
3
24
Galveston.....
have caused a return of ease in the money market, and there
Indianoia, Ac
49
526
19
131
149
168
10
deems to be no apprehension of recurring stringency, at least in
New Orleans...
2
14
1
6
3
2
Mobile
the near future. Still, speculation has received a shock from
Florida
which it will not readily recover; and regular trade, though
47
25
2
1
19
Savannah
1
1
-active, is devoid of features of striking interest.
Brunsw’k, Ac.
117
102
10
5
The following is a statement of the stocks of leading articles Charleston
40
40
Pt. Royal, Ao.
of domestic and foreign merchandise at dates given :
3pue (Emmujerrial
,
....
mmmm
....
....
....
m m mm
....
....
....
....
....
....
....
....
-
mmmm
....
• •••
•
Wilmington....
1887.
June 1.
1887.
July 1.
hhds.
Tobaooo, domestic
Tobacco, foreign
Coffee, Rio
Coffee, other
Coffee, Java, Ac
Sugar
22,362
39,267
38,091
47,342
23,046
25,415
39,934
bhls.
Pork
Lard
47,207
446,212
100,700
hhds.
Sugar
Sugar
Melado
Hides
Cotton
Rosin
bbls.
Spirits turpentine
Tar
Rice, E. I
Rice, domestic
44,891
234,668
97,711
83,500
29,340
2,189,053
300
None.
439
1,501
1,346
1,000
bhls.
991
pfcgs.
3,680
4,140
Unseed
Saltpetre
Jute butts
Manila hemp
Sisal hemp
36,386
37,010
2,493,500
-
2,000
380,100
198,130
14,985
1,522
1,136
8,160
5,800
Nod6.
None.
15,700
14,200
15,300
17,700
35,647
3,028
35,009
None.
Moreh’d C. Ao.
Norfolk
West Point,Ac
14,392
None.
2,325
1,500
403,800
165,385
19,609
1,787
bhls.
No.
July 1.
52,347
81,500
37,328
3,073
71,750
47,477
mats.
Molasses, foreign
Molasses, domestie
327,565
1886.
None.
1,595,126
opened at some further advance,
downward turn, in sympathy with the course
but soon took a
....
....
....
....
....
....
....
....
....
....
....
....
....
....
•
....
Tuesd'y.
a
6'95
6-99
708
7 13
703
0
>—■
October
Nov.
“
“
..
E
80
..
6*78
6*81
6-91
6-96
6-85
68
mmmm
mmmm
....
....
....
....
135
163
189
87
30
•
•••
•
•
•
•
1,261
310
396
Since
Sep
1,1885.
This
Week.
414
706,578
273
W.Point, Ao.
133
324,069
New York...
37
Boston
30
96,799
105,273
64,441
57,118
526
m’mm
Bavannah.
Charleston
Pt.Royal,&c
Wilmington
M’head C.,Ac
.
Norfolk
Baltimore...
Philadel’a,&e
1886.
1887.
3,297
6,053
73,196
410
26,871
5,875
1,104
6,607
679
3 141
695,504
1
117
40
•
•
•
•
....
....
4,541 1,720,174
410
246,653
l
50,118
1,551 795,761
16,252
198,270
1,669
2
14,315
1,261 5,194,203
Total
*
,
47
..
..
Stock.
731
14
Florida
of last year.
1885-86.
Sep.
1,1386.
43
Mobile
9
101,636
1,039
708
549
7,821
559,892
2,278
934
283,987
3,919
2,260
218,871
3
56,109
787
118,378
586
57,023
1,237
50,723
145,991
4,000
2,818
14,500
12,694 5,273,397
249,312
2,500 bales added as correction
10,437
9,230
13,659
307,633
of receipts since Sept. 1.
In order that comparison may be made with other years, we
give below the totals at leading ports for six seasons.
1883.
1883-
1884.
1885.
1886.
1887.
Receipts at—
Galvest’n.Ao.
43
414
50
87
3,108
233
New Orleans.
526
4,541
448
570
4,127
1,054
14
410
29
321
154
728
1,554
1,669
51
99
638
662
60
162
94
167
26
17
35
530
365
630
5
5
101
1,061
2,158
4,654
2,420
3,572
2,862
6,454
11,024
8,142
Mobile.
Bavannah
47
...
Charl’st’n, Ac
Wilm’gt’n, Ac
157
Norfolk
273
549
W. Point, Ao.
133
934
m
9
m m m
68
2,614
Tot. this w’k.
1,161
12,694
8inoe Sept.
....
61
...
All others
‘
1. 5194 201 5273,397 4719,543 4794,874 5915,986 4639,715
Galveston includes Indianoia; Charleston includes Port Royal, Ac.,
Wilmington includes Moreh’d City, Ac.; West Point Includes City Point, Ac.
the week ending this evening reach a total
18,162 bales, of which 11,317 were to Great Britain, —
to France and 6,845 to the rest of the Continent.
Below are
the exports for the week and since September 1, 1886.
The exports for
of
18J£c. for 50-degrees fast. Teas are more steadily held.
From Sept.
Week Ending July 8.
Exported to—
for the week 850 hhds., of which
mmmm
mmmm
1,720,520
213,404
23,167
794,549
31,731
-367,830
19,212
134,555
3,839
531,118
New Orleans.
colored.
The speculation in Rio coffee has relapsed into dulness, with
fluctuations within comparatively narrow limits, closing
to-day with sellers at I6’85@17’20c. for the summer and
autumn and 17'25(3) 17 35c. for the winter and spring months.
Coffee on the spot has also been very quiet, with fair cargoes
Rio quoted at 1834c., and a sale of “interior” Java at 24%o,.
Raw sugars have been dull, and close easier, with sales to¬
day at 4%c. for fair refining Cuba and 5 5-32c. for centrifugal,
96-degrees test. Molasses has declined and closes nominal at
some cases.
133
37
mmmm
Ind’nola,Ac
for fancy
fraction dearer in
273
61
....
Since
This
Week.
Galveston...
Butter is dearer at 15^@ 2034c.
Cheese has bpen quite buoy¬
ant, but yesterday and to-day was dull and drooping at 8@
93^c. for State factory, full cream, the higher figure an
a
....
1886-87,
Receipts to
July 8.
is down to 3%c. and is active.
for creamery, but closes quiet.
>close
....
•
mm
showing the week’s
stock to-night,
6-78
678
6-88
693
6*84
Kentucky tobacco has been active for the home trade; sales
225 for export. Prices are
unchanged. Seed leaf has sold to the extent of 800 cases as
follows: 200 cases 18S1-S2-83-84 crops, Pennsylvania seed,
1234@14c.; 100 cases 1885 crop, Pennsylvania, 13@16^c.; 100
cases 1885 crop, Pennsylvania Havana seed,
1034@20c.; 150
cases 1884-85 crops, Little Dutch, 9@14c.; 100 cases 1884-5
crops, State Havana, 11@ 1634c., and 150 cases sundries, 7@28c.;
also 400 bales Havana, 60c.@$l 05c., and 150 bales Sumatra,
$1 30@$1 50.
Spirits turpentine has been drooping, but closes fairly active
at 3334@ 3334c.
Rosins are decidedly lower at $1 05@$1 15 for
common to good strained.
Crude petroleum certificates are
lower, closing at 60^@6034c* Wools have been fairly active
at full prices.
Hops are very firm. Straits tin was active to¬
day at 22?4c. for September. Ingot copper has been fairly
active ana closes firm at 10V4@10 5-16c.
Other metals with¬
out feature, except that interior iron markets are stronger.
Ocean freights have been active for grain room and rates
mm m
m
m
....
For comparison, we give the following table
total receipts, the total since Sept. 1,1886, and the
and the same items for the corresponding periods
Pork has been sold more freely, losing part of the late advance.
Pickled meats have been more active at8@8l4C. for bellies and
12c. for hams, but other cutmeats were quiet.
Tallow
extreme
mmmm
133
•
•
17
....
Totals this week
Wedns’y. Thursd’y. Friday.
....
199
•
*
....
'
LARD FUTURE'S
6-88
6-98
7*03
6*92
• .
13
....
•
•
•
....
13
Phlladelp’a, Ao.
6*77j£@6’82^c. for prime to choice Western, 7c. for refined to
the Continent and 7’40c. for refined to South America.
Mond'y.
.
....
Baltimore
prices for Indian corn, for which the prospects of the next
crop were greatly improved by recent rains.
To-day an early
decline was nearly recovered. Lard on the spot was dull
until yesterday, when at some decline a considerable business
was done;
but the close is quoted at 6 ’40c. for prime city,
DAILY CLOSING PRICES OF
.
•••
•
Boston
Of
Saturday.
a
July deliv’y ..
0
August “
..
s
Sept.
“ ..
8>
....
....
Br’sw’k, &o
Lard for future delivery
mmmm
....
.
....
New York
311,COO
248,481
16,628
1,532
1,965
3,940
6,200
7,500
17,350
52,400
19,930
5,845
.
.
....
Exports
from—
Great
Brit'n.
Galveston
New Orleans..
Mobile
......
Trance
Conti¬
Total
Great
nent.
Week.
Britain.
.
......
2,047
...
......
......
Savannah
......
......
......
......
Wilmington...
......
......
......
......
Norfolk
......
......
......
......
...
West Point,&c
Baltimore.
......
....
.
•
4,198
......
Total 1885-80
29.809
1.587
nent.
Total.
255,540 39,352
732,319 319,902
40,807
104,900
390,798
18,048
43,900
243,900
15,483
233,159
90,453
90,823
320,220
97.678
7,900
•
•••
2,150
469,656 40,272
144,568
96,073
52,793
.
Phlladelp’a, Ac
11,317
.....
32
32
Total
.....
,
......
...
Conti¬
Franct
370,249 1,422.470
40,807
......
11,285
New York
Rnstnn
*
.
2,647
Florida,
Charleston
1,1886, to July 8,1887
Exported to—
6,845
18.162 2,630,101
8 001
39.397 2.400.804
....
8,750
143,200
10,857
8,900
8,400
236.031
2,092
28,844
8,219
495,707
277,025
109,040
330,120
108,234
745,959
140,600
133,667
50,012
472,000'1,155.664|4,203,705
405.840*1.269 007 4.142 251
57
THE CHRONICLE,
July 9, 1887. J
2
telegrams to-night also give
us the following amounts of cotton on shipboard, not cleared,
at the ports named.
We add similar figures for New York,
which are prepared for our special use by Messrs. Carey, Yale
In addition to above exports, our
D
® ® ®
p>
£■P*.— ?
Shipboard, not cleared—for
Great
Britain.
France.
Foreign
Ooastwiee.
6,880
2,032
13,628
59,568
None.
None.
None.
None.
None.
None.
None.
None.
None.
None.
100
None.
None.
None.
410
579
Other
None.
None.
None.
None.
None.
5,500
1,000
Other porta
Total 1886
Total 1885
None.
None.
None.
4,050
None.
2,278
136,441
21,357
24,278
®
1.500
7,078
2,236
30,996
276 637
10,138
None.
4,042
215
14.425
242,755
ST co oo 2.
p
©)QoS’
speculation in cotton for future delivery at this market
opened on Tuesday (after the adjournment from the previous
Friday) in a state of depression that was quite severe, under
which prices declined 19(^26 points for the early months and
13@ 17 points for the more distant deliveries. The Liverpool
report was very disappointing to the bull party, while re¬
ports from Lancashire indicated that the “short time” move¬
ment was making progress.
These, together with very favor¬
able reports from the growing crop, discouraged speculation
to an extent that caused heavy selling, besides leading the
bears to operate quite freely for the decline. On Wednesday
there was some further decline, but the close was steadier on
reports of excessive rains in various parts of the South, causing
a demand to cover contracts, and leading some operators to
the belief that a turn for the advance might be safely made.
Yesterday an early advance on favorable Liverpool reports
was not fully maintained.
To-day a weak report from Liver¬
pool caused an early decline, with heavy selling for Septem¬
ber, but renewed symptoms of a purpose to “corner” August
caused a brisk advance in the later dealings.
Cotton on the
spot declined 1-16c. on Tuesday, with a good business done
for export, and was dull and l*16c. lower on Wednesday.
Yesterday there was liberal buying for home consumption.
To-day the market is quiet at 10 15-16c. for middling uplands.
The total sales for forward delivery for the week are 480,1 0j
bales. For immediate delivery the total sales foot up this wet k
4,541 bales, including 2,250 for export, 2,291 for consumption,
for speculation and — in transit.
Of the above, — bales
were to arrive.
The following are the official quotations for
to
s!
"*81,
■
«
.Jgf
§2!
s-® ®
S*
s2.§r«-4
*
c*
Mon Taes Sat.
99
<
®
05 05
®
05
**
Strict Ord..
Good Ord..
Str. G’d Ord
Low Midd’g
Str.L’wMid
MmWM
©9©9
-1-1©-J
OOoO
05 060®
H-tO
00 QD
K>
10%
1080
Holiday
Good Mid..
Str. G’d Mid
.
I
11%
11%
10
107)8
1013ie
iOhe
1013.6
—I
T1&.
%
9©
®
©©
Wed
Frl.
li316
11716
n3,e
11716
lin,6
121.6
83e
830
80,6
8®ie
81316
9
9
9%
9%
916,6
915,6
103.6 103,6
Midd’g 100,6 100.6 100,6
10% |10%
Str.L’wMid 10%
Middling... 101516 1010.6 1016,6
Good Mid.. H316 113.6 '113,6
117a«
117.6
117i6
1030
10%
1110
1130
1150
Sat.
STAINED.
8%6
8»ie
89.6
9
9
9
9
9«i«
916,0 915.6
103g
10%
1030
10%
1030
10%
1110
113g
10%
10%
12
12
12
12%
12%
12%
1250
11%
11%
Mon Taes Wed
day.
day.
8%
813,6
*
to^
to:
1^05
<
®
cj*
Frl.
8%6
8%e
8%
8%
closed on same (lavs.
SALES OF SrOT AND
Con-1 Spec- TranuVt'n sit.
Iloli dav
Hnli day
Total:
...J
2,250
404
1,256
388
eries.
....
i
....
....
....
2,291! ....|
The Sales and Prices of
Deliv¬
Sales.
1
1
2,493 103.800
404 156.800
1,256 88,400
388 130,900
....
The daily deliveries given above are actually
previous to that on whion they are reported.
ing comprehensive table.
FUTURES.
.
243
2,250
Quiet and steady
J
Futures
are
OO
<Jt
►
<
-j©
®
©©
Id
-j-j
®
1 e)r*:
•
co
o
O
o
<J
ot
>
99
<
d>6i
2
Cfio®
COCOo©
'jO'j
OOO
Ood
O
a»05
O
©©
4
to
99
2
icoo^^
I
co
<
do*
6a 2
O'O'm"*
I ®o:
w:
«0®c®
©Oo*®5
©©o©
66oi
05©
O'-J
Ocb
d)<i o®
®-jO<|
to
2
05Oi
O'
99
dd
W
<
2
Wm4
I
I
©COo®
05O®
ado®
O'
05
O
OOO*
Wifi.
M
05 to
o
©9
%
coco
%
d o«
2
?-jM^
dd
2
I
w
© ©<■“>©
©©o©
osd°d
d-ao®
—
o
w
OlH*
00
© ©
4
b>
99
<
dd
2
if^O
I ®o.
99
dd
<
2
Oi O'
©©
<1
dd
2
OCtOM^
I s.*:
I
2
I
ao
cocop©
ddo®
©©p«
ddo®
o»-j
05©
^05
to
dd
-J05m^
00
dd®®
©o©
I
I —) O
^
M
99
◄
^
>
b»
©©
4
-id
2
^
po»
-j-j
2
n
mm
I
I
©©o©
-a-jo®
tow
00
©9
-j-j
2
^
**
05 tO
O
^
co©
I s
:
’1
©00
w©
I
I
©©p©
2
-j-j
©©§©
CO
©©o©
-j-jo*j
-i-jo®
-joib®-j
WO>
PM
©
O'©
©
©©
%
99
<
M
©©
-j-j
2
I
-j-j
2
^
O' tf—
obob
2
©
I ^).w:
I
M
to
©coo©
C0©P©
-4-jO-j
©©p©
-jxO<|
©©oO
-j-jo-j
obobO (x,
00©
©M
©ao
a.
m©
<
99
◄
2
oocjo
2
O'
OD-j
©
>
%
99
2
^
O'O' ‘
I e)p‘©
ababOob
obob
I e)-M:
©©p©
ababOob
-100
©
©9
©ob
■%.
99
◄
2
COCO
2
^
4
I
obob®©
to
o-j
^
to©
©
©coo©
Ifi#-
tOM
:
I ^>.w:
©
1 1 :
1 1
>
i
99
<
x
2
do
©©p©
cc ©C co
u. to
to
^
CB-J
I d
l
:
>©
ob©°ob
©cop©
CO cc © co
© to
O'CO
m
1
w
M
©CO © CO
,
1 e): :
w©
©
)
9909
© © 0 ©
a
:
CB
1
1 1
:
i
1
CB
:
t 1:
*
Includes sales in September, 1886, lor September, 42,900; September-Ootober, for Ootober, 287,200.; September-November, for November,
441,700; September-December, for December, 765,100; Septemberfor January, 1,685,900; September-Februai y, for February,
1,282,400; September-March, for March, 2.106,800; September-April,
for April, 1,628,900; September-May, for May, 2,005,90C; SeptemberJune, for June, 2.555,200.
Wc have included in the above table, and shall continue each
ween to give, the average price of futures each day for each month.
It
will be found under each day following the abbreviation “ Aver.” The
average for each month for the week is also given at bottom of table.
Transferable Orders—Saturday,
c.; Monday,
c.; Tuesday,
January,
TRANSIT.
port. sump
1
-
ai
©COpCD
O' 05
©
Th.
MM<Jk-*
6606
@o:
i
I @0:
01
1150
The total sales and future deliveries each day during the
For tne con¬
week are indicated in the following statement.
venience of the reader we also add a column which shows at a
....
®
WOOm^
I ®o:
1
M © K>
O
®
2
to^
0^1
Mf-giH
00
99
%
®
%
cccooO
o o O -j
MARKET AND SALES.
.
66
£.00
01
9llie 01,16
109,6 10&i8 103,6
9%
10%
..........
Mon.
Tues. Easy /a) i,* dec..
Wed
Steady @ i,6 dec
Thurs Firm
%
OO
©©
I
fe.
OO
00
<j v
©©
-i-j
MM
>
00
2
-J
tOit^
to
00©
<
OOpO
<JCdO<j
MM
o
>
MmoM
k. zn
OOOO
>—
*
M tO
°9p9
-j©©ab
o-oo
© CD
p
12
1250
Low Middling
Rat
oo®o
OOoO
00
|
11%
12
Holl-
i
2
£
®
'NO.q
6°o
99
|
1110
113©
115©
Hob-
Bx~
00
MwyM
OOOO
W(J0
11%
1130
11%
11%
1130
11%
Strict Good Ordinary.
SPOT market
CLOSED
99
00
2
MOco^
I sw:
WMW^
I ®
o
Th.
8»16
8%
glance how the market
t>
<
M*-*
£
o©
I ® »:
I sy:
1016,6 1016,6 10i516 10*6,6 101B16 1016,6
Midd’g Fair 111316 1113.6 1113,6 12
Fair..
12716 127.6 127,6 1250
Middling
M-n-'j.wa
ooi
M.-©M
1211,6
Frl* Wed
Th.
813le
Low
2
W-ICO”1
©©
Ordlnv.ttfc 83a
Strict Ord..
Good Ord.. 93*
Btr.G’dOrd 10316
-jo
►—
t>
11
121*1*
12%
Wed
10
lULe
12iia
11%
Fair
£
*jO-q
M
880
9%e
1013ie
Midd’g Fair
*-<jM
Or O
©
05
Ml—
OO
>
OO
-4-j
I
I d*-:
1 £)to:
I @0:
©9:
Mon Tact
8^8
9he
9i3ie
Middling...
<
®
-105
TEXAS.
Mon Tne« Sat.
tl16
878
Ordln’y.yib
MM
<
OO
©©•
<,o
CO
to
NEW ORLEANS.
^
99
©©o©
UPLANDS.
Sat.
e) ©
p
P“ •“‘bo ®
a, a,
COO©
each day of the past week.
:
® s*
p® *«<
CO
MM
@m:’I
TOO
'-‘•—O'-*
—
TotaL
pi££
V ©O?
MM
The
.
SO c*
CO
^
*-M
Frl.
•
:
CB ©
p
%
225,034
20,182
©
.H
“g'-'p
9 co a.
1.104
8,297
9,550
1,000
2,032
10,930
None.
11,216
Total 1887
Str. G’d Mid
® Qi
S’® ® »
h
® fi
Stock.
Total.
©
None.
None.
None.None.
None.
None.
None.
None.
4,716
New Orleans....
Mobile
Charleston
Savannah
Galveston......
Norfolk
New York
July 8
@ B
Leaving
July 8, AT—
July 2 to
®
S’®*®
a or•
p,
-
on -
Q^h-i ej C-,
; 'gOc
& Lambert. 24 Beaver Street.
On
gsei
oaS.g’
g
OMTDo
4,54l!480,900:
700
200
300
1,200
delivered the day
shown by the follow¬
10*75c.; Wednesday, 10*70c.;
Thursday, 10’75c.; Friday, 10’75o.
following exchanges have been made during the week:
exch. 100 Sept, for Aug.
•40 pd. to exch. 500 Oct. for Sept.
*66 pd. to
exch. 400 Dec. for Mar.
•13 pd. to exch. 100 Dec. for Oct.
’15 pd. to
to exch. 100 April for May.
02 pd. to exch. 500 Nov. for Jan.
*07 pd. to exch.
1,000 Dec.forSept.
•07 pd. to exch. 1,0 JO Jan. for Oct.
*29 pd.
•11 pd. to exch. 1,000 Oct. for Apr.
The Visible Supply of Cotton to-night, as made up by cable
and telegraph, is 18 follows. The Continental stocks, as well as
The
58
THE
CHRONICLE.
those for Great Britain and the afloat, are this week’s returns,
and consequently all the European figures are brought down
to
Thursday evening. But to make the totals the complete
figures for to-night (July 8), we add the item of exports from
the United States, including in it the exports of Friday only.
Stock at Liverpool
8tuck at London
bales3
.
Total Great Britain stock.
Stock at Hamburg
Stock at Bremeu
Stock at Amsterdam
Stock at Rotterdam
Stock at Antwerp
Stock at Havre
Stock at Marseilles
Stock at Barcelona
Stock at Genoa
Stock at Trieste
.
1887.
1886.
1885.
1884.
780,000
28,000
649,000
21,000
825,000
19,000
887,OiiO
53,000
808,000
4,600
670,000
4,000
40,200
27,000
844,000
940,000
4,500
.
55,100
.
34,000
200
220,000
3,000
44,000
6,000
12,000
380,100
1,188,100
I idia cotton afloat for Europe.
Amer. cott’n afloat for Eur’pe.
Stock in United otates ports..
Stock in U. S. interior towns..
United States exports to-day.
4,000
45,700
41,000
177,000
4,000
64,000
9,000
7,000
327,100
356,000
Week ending
July 8.
3,400
220,000
6,000
63,000
13,000
12.000
443,800
American—
528,000
231,000
33,000
249.312
.
607,000
243,000
81,000
257,180
25,390
2,200
307,633
68,6H2
5,563
27,337
2,9 U 9
'
,
471,000
230,000
118,000
day of the past
51,0C0
1,741,658 1,723,978 1,749,770 2,056,106
Of tlie above, tlie totals of American and other descriptions are as follows :
Liver puol stock
bales1
Continental stocks
American afloat for Europe...
United States stock
United States iuteiiur stocks..
.United States exports to-day..
Quotations for Middling Cotton at Other Markets.—
In the table below we give the closing quotations of
middling
cotton at Southern and other principal cotton markets for each
564,000
276,000
76,0<K)
282,540
London stock
Continental stocks
Indi.a afloat for Europe
Egypt, Brazil, &c., afloat
178,000
21,000
97,100
209,000
35,000
223,000
113,000
179,000
4,000
5,000
107J6
107ia
■
Mobile
Savannah...
Charleston..
10*3
103t
10%
Wilmington..
1078
Norfolk
Boston
The
•
M
©
ills
Philadelphia,
Augusta
Memphfb
....
9t L-iuis
Cincinnati...
Louisville....
....
•
■
■
•
•
107i6
1078
1()78
1116
10%
10%
105s
10%
1078
1078
11%
'
113s
11%
10%
Thurs.
1058
i
10%
10%
10%
1078
1078
Fri.
10%
10%
10%
lOSg
10%
10%
10%
10%
10% ‘
1034
1078
10 7q
10 %
10 78
11
11
11%
11%
10%
10%
10%
10 34
1078
-
It %
•
•
1078
107i6
1138
11%
10%
10%
&
10%
10%
lOSg
10%
Wednes.
11%
11%
10%
10%
10%
10%
1078
Receipts from the Plantations.—The following table
indicates the actual movement each week from the
plan¬
tations.
The figures do not include overland receipts nor
Southern consumption; they are simply a statement of the
weekly movement from the plantations of that part of the
finally reaches the market through the outports.
which
crop
26,766
14,000
Week
Receipts at the Porte. St'k at Interior Towns. Rec'vts from PlanVns
Ending—
218,000
323,000
19,000
53,000
167,800
251,000
22.000
June 3
“
1,744.658 1,723.978 1,749.770 2,056,106
5%d.
5''8C.
56ud.
63j*d.
lie.
10%C.
10l&u,Q.
99jfi0.
imports into Continental ports this week have been
40,000 bales.
figures indicate an increase in the cotton in sight
to-night of 20,630 bales as compired with the same date of
1886, a decrease of 5,112 bales as compared with the corres¬
ponding date of 1885 and a decrease of 311,4-18 bales as
compared with 1884.
The above
10
“
17
M
24
July
1
“
8
816.900
523,100
534,000
.1,071,558 1,200,878 1,215,770 1,239,306
...
J
....
Tues.
1038
10*3
10%
10%
•
Baltimore....
673,100
Price Mid. Upl., Liverpool
Price Mid. Upl., New York...
Mon.
•
'East Indian,
252,000
28.030
149,100
CLOSING QUOTATIONS FOB MIDDLING COTTON ON—
Galveston...
New Orleans.
1,071,558 1,200,878 1,215,770 1,239,306
Brazil, <£c.—
'Liverpool stock
wees.
Saiur.
900
400
900
1,300
153,000
7,00064,000
19,000
11,000
bales less Chan at the same period last year. The
receipts at
the same towns have been 1,799 bales less than the same
week last year, and since September 1 the receipts
at all the
towns are 51,329 bales less than for the same time in 1885-86.
70,000
997,100 1,200,000 1,383,800
223,000
251,000
179,000
118,000
76,000
81,000
4,000
22,000
5,000
307,633
282,540
257,180
68,682
25,390
26,766
5,563
14,000
'2,200
209,000
33,000
35,000
249,312
27,337
2,909
Egypt, Brazil, <fcc.,attt forE'r’pe>
"
600
1,200
,
,
{volxlv.
1885.
1887.
1886.
1885.
3,917
19,837
4,729
2,877
22,773
24,881
3,549
2,155
1,642
2,802
14.303
2,364
13.510
3,598
12,691
1,201
| 1886.
5!,9411139,841
7,599
4,032
1887.
33,0101
28,71l|
80.994
77,001
1880.
53,8&3
47,701'118,907
S9.9431105,274
35.9721 90.032
1885.
51,059
40,093
2,980
1,839
489
1887.
2,844
1,858
11.248
45,252
41,902
5,721
3,872
3,3311
38.253
1,523
248
The above statement shows—1. That the total receipts from
the plantations since September 1, 1886, are 5,184,396 bales;
in 1885-86 were 5,335,208 bales; in 1884-85 were 4,731,039 bales.
2. That, although the receipts at the outports the past week
1,261 bales, the actual movement from plantations was
bales, the balance being taken from the stocks at
the interior towns.
Last year the receipts from the plantations
for the same week were 3,361 bales and for 1885
they were
were
only
—
bales.
Amount of Cotton in Sight July 8.—In the table below
give the receipts from plantations in another form, and add
July 1, and also the
takings by Southern spinners to the same date, so as to give
substantially the amount of cotton now in sight.
we
Ar the 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 corresponding
period of 1885-86—is set out in detail in the following statement,
to them the net overland movement to
*
1886-87.
Litle
Rock,
Total, Total,
Raleh,
new Uou£tn, Brenham, Louisvle, Petrsbug, Newbry,
al.
towns Texas. Texas. Ark.
M
Kj
*
j
%
j
to
■
•
tc
o
-4
it.;
C5
a-
H*
•
N.
8.
Va. C.
C.
Total,
t—•
•
Cl
^
CD
** ©
•
Selma, Macon, Augsta,
D
a
l
s
,
M
e
m
p
h
i
s
,
P
a
l
e
s
t
i
n
,
Cincat, Charlote, Columbs, Vicksburg, Shrevpot, Texas. Nashvile, Montgmery, Columbs, Ga—
towns.
•
Rome, Atlan, Grifn, Eufal,
Louis,
old
ch;
M
St.
Ohio.
Mo N.
Ga Ga
Ga
Tex. Ten. Ten.
Mis. Mis. La.
.
C.
I!
;
;
;
;
to to
MM>
1
■
|
© -1
©©©;•.
;
K1'*
m ; ;
.
.
Ga.
Ala.
00
CO
2
to
00
oi
1—
Oi
cn
O
708,6 25, 04 7 ,138 12,03 14, 76 31.5*1 1 ,472
OI
:
:
CO
CJ1
oo •
-1
o
—:
oow-i^:
©
X
o<
•
d
•
-4 ©
•
CO
2,40 65
Towtns.
.
Tot. reoeipts from planta’tns 5,184.396 5,335,208 4,731,039
Net overland to July 1
783,002
816,558
605,566
Southern consumpt’n to J uly 1
378,000
300.0UO
261,000
Total In sight July S
|
M X ^4 on
•
to.
;
.
•
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o
.
m©
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•
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.
oi.
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—4 t— Oi 0» -4•
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;
MS
xS
Movemnt
night, as compared with last year, is 106,3*'8 bales, the increase as
compared with 1881-85 is 7*7,853 bales, and the increase over I88C-84
July
graph from the S ruth to-night continue,
8,
fVoc
—
s?
weather is desired.
187.
Vl
XW
|
|
M
on
M
O
©
-J
w
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— v »* m
© © 3o © © *ji
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to ci
co oc h*
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M X OI 0’ *- to
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to
•-*
*-*
'«-J
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i£» 1—1 ".0
©
O’
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© ©
7 ,6 1
*
OtCWO-J WCtO-tC'
O’ o' m
i-;
m
© © to it*
to it*
oi
I—
© it*
m
m
a*
©©W©©—'it*©rcx
IT"
m
X ©
-1
ct *41* m © x © © © © *0 © -4 © © o; co'-4 ©
-4 I—© if* ©to * © ©© Ol © © © © ©X © N5
to
!,
CD
Oi C
i—
.pk x
— v>
OijO ©_© O’! W Dot if* ©
© ©To© to It* —• bo ©
oi -• ©
-
>
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o’
Vi b.
to
‘—tO
*-•
o’;
c
©©
to
it* —i *4 oi © i—*
Oi
eXXOt©HXH4t*.
.
o
to
to to
;
1 © w © *-• i* it. •
c wj'Oit;
The
C C 0 O' >£•©—*
•
i-*
•
bl
-4'
it*;
tO
*-‘©lOM
•-•03
i—' oi ©to to — ©
to I-* i— to x. f- ^3 - J
to —* © ©
n
© ^ :
"‘O’
to
figures fur Lo.ii&v Hit-*
Jil)/
9,
Ce
186.
-
ci
Movemnt
to
*-*
x
i-1
x»
o»
%
;
•
M ©
t
toww^nooix©
© © W © © to
Oi
To
oi
-
1
T-*
tc K- • j
co
© ■
-1;
•
m noth years are
io
To bn
© if* © x © x oi *->
Ou^4X3544X
••net.”
Tha above total-* shiv taut the o'd interior stocks have
decreased during the week 2,293 b iles and are
is 702,19* bales.
Weather Reports
a
very
by
Telegraph.—Crop reports by tele¬
satisfactory character, although
This week two
been received.
Our
Texas, state that
worms
used.
as a
general thing, of
at a few points dry
bal e of new cotton have
correspondents at Austin and Luling,
have appeared and poison is being
Galveston, Texas.—It has rained on three days of the week,
inch. The thermometer has ranged
the rainfall reaching one
from 75 to 89, averaging
78.
Palestine, Texas,—Crops are doing well, but require dry
We have had rain on five days to the extent of one
weather.
§>
HOO'IWi-'-OI
h-
CO
©
ao
°
M
to
CO
CO
**
CD OI
a- oi
.
to'
W
Decrease from September 1.
*
It will be s^en by the above that tlie decrease in amount in
siglit to¬
to
©
to
iC-Tb M >—
© © Di X X if* X
Wh' ** © © ,f* cc ©
1.569,437 1,714 0 36 1,337,243 1,517,327
*
gp
©
CO r- tO Ol to M it* CO X ©
July 8
to
CD
to
6,315,458 6,451,766 5,597,605 5,643,264
Northern spinners’ takings to
1-3
s ?
OI©
M
w
4,777,659
573,605
292,000
>■
u>
•
1883-84.
Receipts at the ports to July 8 5,194,203 5,273.397 4,719,543 4,794,874
Interior stocks on July 8 In
excess of September 1
*9,807
61,811
11,496
*17,215
.
CO
tc
1884-85.
.
Ala Ga
Ala
1885-86.
inch and
seventy-eignt hundredths. Average thermometer
78, highest 93, lo'wes', 68.
Huntsville, Texas.—Rain has fallen on four days of the
week to the depth of eighty-five hundredths of an inch.
Condition of crop good, and rainfall suffiimt.
The ther¬
mometer has averaged 83, the highest being 97 and the low¬
est
72.
_
Dallas, Texas.—Prospects are good, hut no more rain is
wanted at present. The outlook is flittering to a marked
degree and all lines of trade view with- delight the situation
as now presented.
Rain has fallen on three days of the week.
The thermometer has averaged 81, ranging from 67 to 97.
Austin, Texas.—There has been no rain all the week. Pros¬
pects are the best for years, but worms are reported on some
planratioris in this section and in such numbers that poisoning
has begun.
The thermometer has ranged from 73 to 98, aver¬
to-night 41,345 aging 86.
July 9,
THE
1887.]
Luling, Texas.—It has rained
CHRONICLE,
day of the week, the
an inch. Crops are
in grand condition, but worms have appeared on several farms
intbispirtof the State. Average thermometer 85, highest
on one
rainfall reaching thirty-five hundredths of
96 and lowest 72.
Columbia, Texas,—Prospects for a magnificent crop were
better, but dry weather is required now. Riin has
fallen on three days of the week to the depth of seven inches
and twenty hundredths.
The thermometer has averaged 81,
the highest being 93 and the lowest 71.
Cuero, Texas.—We have had rain oi one day of the week,
the rainfall reaching twenty-six hundredths of an inch.
Crops with no drawback will be wonderfully large.
Mrs.
never
Hausminn sent the first new bale to Houston oi the 6ch
It is of fine staple and quality. This is the opening of
inst.
an immense business in this section and by the middle of the
month all gins will be running to their full capacity.
thermometer has averaged S4, ranging from 73 to 97.
59
Atlanta, Georgia.—Telegram not receive 1.
Albany, Georgia.—Telegram not received.
Charleston, South Carolina.— It has rained on six days of
the week, the rainfall reaching four inches and eighty-seven
hundredths. Th9 thermometer has averaged 76, the highest
being 89 and the lowest 69.
Stateburg, South Carolina.—We have had rain on four days
of the week, light on three, the rainfall reaching one inch anil
three hundredths. Average thermometer 75 7, highest
87,
lowest 63
*
Columbia, South Carolina.—Rain has fallen on five days of
the week to the extent of one inch and eight hundredths. The
thermometer has averaged 76, ranging from 67 to 89.
Wilson, North Carolina.—It has rained on three days of
the week, the rainfall reaching three inches and
twenty-one
hundredths. The thermometer has ranged from 68 to 88,
averaging 80.
The following statement we have also received by
telegraph,
Brenham, Texas.—It has rained on one day of the week, the showing the height of the rivers at the points named at 3 o’clock
rainfall reaching twenty-one hundredths of an inch. Prospects July 7, 1887, and July 8, 1886.
are brilliant and farmers are jubilant.
The thermometer has
-July 7, *87. July 8, ’86ranged from 72 to 99, averaging 85.
Belton, Texas.—Crops are looking fine. Run has fallen on
Feet. Inch. Feet. Inch.
two days of the week, to the extent of sixty-three hundredths New Orleans
4
b
11
3
Memphis
13
4
20
Z
of an inch.
Average thermometer 86, highest 101, lowest 70.
Nashville........
1
7
9
4
Weatherford, Texas.—Prospects are good, sufficient rain Shreveport....
10
1
2
O
having fallen, and the general condition of the plant is favor¬ Vick-burg
15
1
30
3
able. It has rained on two days of the week, the rainfall
India Cotton Movement from all Ports.—The
reaching seventy-five hundredths of an inch.
The ther¬
receipts
and
mometer has averaged 80, the highest being 100 and the
shipments of cotton at Bombay have been as follows for
the week and year, bringing the figures down to July 7.
lowest 01.
BOMBAY RECEIPTS AND SHIPMENTS FOR FOUR YEARS.
New Orleans, Louisiana.—We have had rain on five
days of the week, the rainfall reaching three inches and
Shipments this toeek. Shipments Since Jan. 1.
Receipts.
eighty-six hundredths. The thermometer has averaged 77.
Tear Great OontiGreat j ContiThis
Shreveport, Louisiana.—Rainfall for the week one inch
Total.
Tear.
BriTn. nent.
Total. Briiainj nent.
Week.
and seventy hundredths.
The thermometer has ranged from
70 to 94, averaging 77.
1887 8,000 2.000 j 10,000 317,000 02 J.0OG
'
907,000 15,000 1.407,000
188b
7.0001 7,000 292.000 61<»,000
902,000 12,000 1,304,000
Columbus, Mississippi.—We have had rain on five days of 1885
2,000 13,000 15,000 208.000 455,000
663,000 9,000
1165,000
the week, the rainfall reaching one inch and
twenty-three 1884 2,000 3,O00| 5,000 402,000 582,000 1,014,000 6,000 1.503,000
hundredths. Cotton is good and corn magnificent. Average
thermometer 77, highest 92 and lowest 62.
According to the foregoing, Bombay appears to show an
Lelawi, Mississippi.—Rainfall for the week ninety-two increase compared with last year in the week’s receipts
hundredths of an inch/
The thermometer has averaged 76, of 3,000 bales, and a increase in shipments of 3,000 bales, and
the shipments since Jan. 1 show an increase of 65,000 bales.
the highest being 85 and the lowest 68.
Greenville, Mississippi.—Rainfall for the week two inches The movement at Calcutta, Madras and other India ports for
and forty-one- hundredths.
The thermometer has ranged the last reported week and since the 1st of January, for two
from 70 to 97.
✓ears, has been as follows.
‘‘Other ports” cover Cejlon,
Clarksdale, Mississippi.—We have had rain on four days Tuticorin. Kurrachee and Coconada.
of the week, the rainfall reaching three inches and
forty-two
Shipments for the week.
Shipments since January 1.
hundredths. Average thermometer 77, highest 90 and lowest
The
....
..
.
_
,
65.
Vicksburg, Mississippi.—Crops
good.
It has been
showery on four days of the week, the rainfall reaching one
inch and twenty-four hundredth'3.
The thermometer ha*
averaged 79*5, the highest being 98 and the lowest 65.
|
Helena,, Arkansas.—Rain has fallen on every day of the
are
week and there are prospect* of more. The rainfall reached
two inches and sixteen hundredths.
We are
having too much
getting grassy and growing too fast. Average
thermometer 78, highest 88. lowest 66.
Memphis, Tennessee.—We have had seasonable showers on
four days of the week, the rainfall
reaching two inches and
thirty hundredths. Crop accounts are good. The thermome¬
ter has
averaged 76’7, ttia highest being 87*9 and the low¬
rain,
crops are
est 67-3.
Great
Britain.
~
Nashville, Tennessee.—We have had rain on four days of
the week, the rainfall reaching eighty-five hundredths of an
inch,
i he thermometer has
averaged 78, ranging from 60 to 90.
Mobile, Alabama.—It has b^en showery on four days and
has rained severely on one day of the
week, the rainfall reach¬
ing two inches and forty-one hundredths. Crops are splendid.
ranged from 69 to 90, averaging 77.
Selma, Alabama.—We have had rain on five days of the
week, the rainfall reaching one inch and fourteen hundredths.
The thermometer has averaged 77, the
highest being 83 and the
The thermometer has
lowest 72. '•
Calcutta1887
1886
Madras —
1887
1886
All others—
1887
1886
Total all1887
1896
75 to 91.
Madison, Florida.—There has been rain on three days of
the week, the rainfall
reaching sixty hundredths of an inch,
The thermometer has ranged from 62 to
92,
88 and the lowest 69.
Augusta, Georgia.—There have been good general rairs on
reaching one inch and
thirty-eight hundredths. The crop is developing finely and
the outlook is
3,000
1,000
8,000
1,000
1,000
1,000
Continent.
91,000
‘
Total.
52,000
111,000
a 4, too
205,000
86.0JC
8,000
1,030
9,000
3,000
16,000
41,000
32,000
3,000
3,000
3,000
25,000
20,000
......
12,000
•
9,000
1,01)0
3,000
19,000
1,000
•■••••
127.000
128,000
75,000
46,000
255,000
121,000
EXPORTS TO EUROPE FROM ALL INDIJ.
1887.
Shipments
to all Europe
from—
Bombay
All other
ports.
Total
1886.
Th is
week.
Since
Jan. 1.
10,000
12,006
967,003
255,000
Th is
week.
22,00\ 1,222,000
1885
Since
Jan. 1.
This
week.
Since
Jan. 1.
902,000
121,000
15,000
663,000-
600
129.5000
8,000 1,023,000
15.600
783,500
7,000
1,0.0
Alexandria Receipts and Shipments.—Through arrange¬
ments we have made with Messrs. Davies, Benachi & Co., of
Liverpool and Alexandria, we now receive a weekly cable of
the movements of cotton at Alexandria, Egypt. The following
are the receipts and shipments for the
past week and for the
corresponding week of the previous two years.
Alexandria, Egypt,
July 6.
1886-87.
1585-86.
18S4-85.
2,872]000
3,613,000
Receipts (cantars*)—
This week....
Since Sept. 1
1,000
2,912,000
This
week.
Since
This
Sept. 1.
week.
| Since j
.Sept, 1. [
This
iceek.
Since:
Sept.
Exports (bales)—
To
Liverpool
1,600 255,000
To Continent
149,000
230,000
2,000 173,000
298,00©*
1,900 200,000
1,000 404,000
2,000 403,000
1,000 498,000
Total
four days of the week, the rainfall
excellent. The thermometer has averaged 79,
ranging from 69 to 92.
Columbus, Georgia.—It hts rained on three days of the
week, the rainfall reaching ninety-eight hundredths of an
inch. Average thermometer 80,
highest 86 and lowest 73.
5,000
•
Great
Britain.
Total.
ihipments since January 1, 1887, and for the corresponding
periods of the two previous years, are as follows:
averaging 76.
Macon, Georgia.—Telegram not received.
Savannah, Georgia.—We have had rain on six days of the
week, the rainfall reaching two inches and eighty-seven hun¬
dredths. The thermometer has averaged 74, the highest
being
Conti¬
nent.
The above totals for the week show that the movement from
the ports other than Bombay is 11,000 bales more than the same
week last year.
For the whole of India, therefore, the total
Montgomery, Alabama.—Crop
prospects continue very
favorable. Riin has f -lien on four days of the week to the
extent of one inch and fifteen hundredths.
Average ther¬
mometer 70, highest 89 and lowest 76'9.
Auburn, Alabama,—We have had fine weather for corn
but there has been most tco much rain for
cotton, still a!l
crops are good.
It has been showery od six days of the
week, the rainfall reaching one inch and forty-four hun¬
dredths. The thermometer has averaged 82*4,
ranging from
,
*
Europe
A cantar is 98 lbs.
This statement shows that the
July 6
were
1,000 bales.
receipts for the week ending
1,000 cantars, and the shipments to all Europe
Manchester Market.—Our report received by cable to-night
from Manchester states that the market is duli for b3th yams
CHRONICLE
THE
60
[Vol. XLV.
1
shirtings, and that the demand for both home trade and
foreign markets continues poor. We give the prices for to-day
ibelow, and leave those for previous weeks of this and last
year for comparison :
1886-87.
and
328 Oop.
Twist.
d.
d.
Holi
•June 3
44
10 76ie—1716ie
•**
17 73a
44
24 73s ®8
1 73s @3
July
“
6 J 3a ^/8
8*4 lbs.
OotVn
Mid.
Shirtings.
Uplds
d.
s.
8*a06
8*fl56
8*306
8*306
8*306
5
5
5
5
5
10*2
10*«
ldfl
10*2
10*3
Twist.
Shirtings.
d.
a.
57s
7*8
7*8
7*8
7*8
7*8
7*8
d.
s.
day
8*4 lbs.
6
6
578
d.
d.
7
7
7
7
7
7
s.
07®8 5
0758 5
07®8 5
07»8 5
075a 5
07^8 5
s.
06
06
06
06
06
06
.
d.7
7
7
7
7
7
5,190,063 5,257,060 4,716,103 4,784,473 5,894,216|4,620,487
104
8.
2,405
379
1,246
1,945
214
193
2....
68
8.
3,185
2,397
44
260
635
2,287!
1,733
69
1,124
l,719j
1,236
44
3....
44
4....
135
Mid.
“
5....
163
Uplds
2,519
44
6....
189
d.
4*
7....
336
2,449
1,500
1,006
255
5*8
5*8
5*8
5*8
44
8....
*2,810
438
354
1,824
53ie
5*16
| 1881-82.
July 1....
OotJn
32s Oop.
1882-83.
1883-81.
Tot Jn. 30
1886.
1887.
1884-85.
1885-86.
S.
1,811
S.
241
8.
97
1,626!
464
1,395
2,353
|
1,168
.€0.
2,949i
8.
8.
5,194,203 5,269,420 4,718,207 4,790,740 5,906,588 4,630,241
Total
i-.
Percentage of total
port reo’pts July 8.
9812!
93-76
98-79
97-64
-
98-12
*2,500 bales added as correction of receipts at Charleston since Sep¬
July 1. tember
1.
—Below we present a synopsis of our overland movement,
This statement shows that the receipts since Sept. 1 up to
receipts, exports, spinners’ takings, &c., for the month of to-night are now 75,217 bales less than they were to the same
.June and for the ten months of the season to July 1, for the day of the month in 1886 and 475,996 bales more than they were
to the same day of the month in 1885.
We add to the table
years 1884 85, 1885-86, and 1886-87 :
the percentages of total port receipts which had been received
to July 8 in each of the years named.
1885-86. 1881-85
1886-87.
Cotton Consumption and Overland Movement to
22,587
<41ro8S overland for 10 months
1,264,016
3*et overland for June
11,270
-Net overland for 10 months
783,062
Fort receipts in June
17,648
'Port receipts in 10 months
5,190,063
39,914
^Exports in June
1,243,558
^Exports in 10 months
Port stocks on June 30
277,199
Northern spinners’ takings to July 1
1,565,278
"Southern spinners’ takings to July 1....
373^630
Overland to Canada for 10 months (in•eluded in net overland)
41,987
Burnt North and South in 10 months
19,24 -i
•"Stock at North’n interior markets July 1.
7,444
36,918
*Carne in sight during Juno
Amount of crop in sight July 1
6,345.125
487-20
.Average weight of bales
bales.
dross overland for June
40,157
17,910
942,719
1,198,359
9,507
9,235
605,566
816,558
14,239
84,715
5,257,060 4,716,103
223,058
111,280
4,097,109 3,777,621
362,323
305,752
1,704,915 1,326,928
26 L,000
300,000
.
The Exports op Cotton from New York this week show an
increase compared with last week, the total reaching 15,483
bales, against 6,902 bales last week. Below we give our usual
table, showing the exports of cotton from New York, and the
direction, for each of the last four weeks; also the total exports
and directions since September 1, 1885, and in the last column
the total for the same period of the previous year.
Exports of cotton (bales) from New York since Sept. 1,1886.
39,564
3,601
6,828
26,378
4,165
5,279
10,189
6,446,618 5,600,163
46,222
486-21
Same
'Week ending—
-
Exported to—
June
16.
June
23.
June
30.
July
Total
since
period
previous
7.
Sept. 1.
year.
-
Liverpool
1,074
2,980
Other British ports
1,064
150
4,250 11,285 406,882 445,736
46
62,774; 48,882
Totaltogt. Britain..
2,138
3,130
4,296 11,285 469,656,494,618
IT
avre
25
40.272*
41.744
1,174
25
40,272
42,918
48,207
76,713
32,703
61,978
72,478
(y jbftr Fremiti ports
48096
Total French
First Bale of New Georgia Coiton.—The fust bale of
new cotton of the crop of 1S87-88 was received at Albany,
2,229
Bremen;
Hamburg
Other ports
-
3,096
198
958
1,372
1,963
1,461
1,209
82
151
3,042 74,847
vGecrgia, from Primus Jones of Baker County, on July 5. It
was jurtbased
by Messrs. Coles, Simpkins & Co., of Bruns4,198 199,567 167,159
•wick, forwarded to BiULSwick on the same day, and there Total to No. Euroi-e.. 5,176 3,506 2,581
-sold to the Boaid of Trade, who shipped it to Messrs. Wood¬
15,801 11,695
900
Sp’u,6p’rto,Gibi’it’r,&e
20,663 18,635
57
ward & Stillman, New York.
The bale weighed 452 pounds, All other
-ana clatsed low middling.
Last year the first bale of Georgia
36,464 30,330
Total Spain, &o
P57j
cotton v as received at Savannah, August 7, but the.first bale
of the crop came from Texas and reached Cuero July 15.
7,614 7.5931 6,902 15,483 745,959 735,025
Grand Total
The First Bale of New Texas Cotton.—Our correspond¬
The Following are the Gross Receipts of Cotton at
ent at Cuero, Texas, telegraphs us that the first bale of Texas
New York, Boston, Philadelphia and Baltimore for the past
cotton of the new crop left that city on Wednesday, July 6,
week, and since September 1, 1886.
destined for Houston. The bale was of fine staple and quality
acd was grown by Mrs. Hausmann, of Dewitt County.
Baltimore.
Philadelph’a
Last
BOSTON.
New York.
year the first new bale also came from Dewitt County and
Receipts
This
Since
Since
This
Since
This
Since
This
.reached Galveston July 16.
from—
week. Sept. 1. week.
Sept. 1.
week. Sept. 1.
week. Sept. 1.
Jute Butts, Bagging, &c\—The market for bagging has
6,003
2,341
330,604
been moderately active in a jobbing way, and a fair amount N. Orleans..
179
331,0 jO
Texas
ot stock is being taken.
Prices are quoted generally at
109
57,751
5
17,838
182.734
40,690
@5%c. for \y2 lbs., 6^@6*^c. for 134' lbs., 6%@7c. for 2 lbs., Savannah.. 1,038
10,361
1,359
Mobile
%@?34c- *or siandaid grade, but a few sellers ask a shade Florida
7,750
-
'
-
•
•
•
••••••
•
'
.......
money. Some trade in butts is reported on the basis
4,%<a2c. for paper grades and 2^@2^40. for bagging qualities.
snore
Comparative Port Receipts and Daily Crop Movement.
—A comparison of the port movement by weeks is not accurate,
os the weeks in different years do not end on the same day of
Tshe month. We have consequently added to our other standing
tables a daily and monthly statement, that the reader may
-constantly have before him the data for seeing the exact relative
for
movement
the years named.
The movement since
September 1, 1886, and in previous years, has been as follows.
20,019
So. Carolina
112
111,212
No.Carolina
181
21,243
Virginia....
51
148,580
327
58,900
605
1,321
218,310
37
95,79)
3,277
500
3,939 1,235,670
2,153
North’n p'ts
Tenn.,&c—
Foreign
This year.
Last year..
9,463 1,310,371
7,lol
7,801
......
330
41,504
313
7,012
91,549
105,161
190
57,118
200
04,373
465,447
526
124,321
022
220,635
1,074
131.682
2,749
235,970
454,502
News.—The exports of cotton from the United
past week, as per latest mail returns, have reached
21,973 bales. So far as the Southern ports are concerned, these
are the same exports reported by telegraph, and published in
the Chronicle last Friday.
With regard to New York we
Shipping
States the
Beginning September 1.
Year
Monthly
Receipts.
i
Sept mb’r
1886.
|
359,203j
1885.
'
1883. ’
1882.
1831.
345,445!
343,812 ’
326,656
980,584
429,777
j 1884
385,6421
October.. 1,034,4.>0 1,055, 24 1,090,385 1,046.092
Novemb’r 1,169,979 1,033,552 L,122.164
Decemb’r 1,161,886 l,069,92o 1,104,211
513.393! 475,757!
January
644,681
414,6 at
487,727
j 261,44b1 385,938! 595,59-
291,992
404,272
253,332
283,615|
April....
May
83,186
202,866!
47,126
June
17,048
133,117j
March
...
437,729
752,827
.
February.
1,030,38o; 1,094,697
1,059,653,1,112,536
84,715;
103,503j
241,514; 482,772
257,099
284.519
147,59.3
35,575!
45,918! 185,523
113,573
103,375
11,239}
111,755
31,632}
78,504
63,679
15,190,063 5,257,OliO'l,716,10314,781,473 5,894,216 4,620,437
Perc’tage of tot. port
97-41 i
98*74 1
98'64 [
97-83
receipts June 30..
97*91
Total
■
This statement shows that up to
ports this year were 66,997 bales
j-
June 30 the receipts at the
les3 than in 1885-86 and
473,960 bales more than at the same time in 1884-85. By
adding to the totals to June 30 the daily receipts since that
time we shall be able to reach an exact comparison of the
movement for the different years.
i aclude the
Thursday.
manifests of all vessels cleared up to
•’
853,195
974,043
996,807
.
Total bales.
York—To Liverpool, per steamers Adriatic, 1,035—
Arabic, 1,407. ..Aurania, 751
British Queen, 1,556 —
England, 2,751
St. K mans, 2,516
Wisconsin, 1,209..
To Bremen, per steamer Werra, 193
New
'
-
To Hamburg, per steamers Uainmouia,
800
To Copenhagen, per-steamer Geiscr,
To Reval, per steamer Gotliia, 1,842.
Taormina,
158
1,200
New
Orleans—To Liverpool, per steamers Andean, 225 — Dis¬
2,406
Harter, 1,2,0—Professor, 2,589..'
coverer,
Total
The
form,
particulars of these shipments, arranged in our
follows :
New York
N. Orleans
Liverpool.
11,285
6,490
Total
17,775
Brcm.
198
198
Hamb. Copcnh.
958
1,*0J
958
1,200
958
1,200
1,812
6,490
21,973
-
are as
11,285
192
usual
Reval.
1,842
Total.'
15,483
6,490
1,842
21,973
Below we add the clearances this week of vessels carrying
cotton from United States ports, bringing our data down to
the latest dates;
,
New
Steamer Roman,
-
.
Baltimore—For Liverpool—July
2—Steamer Nessmore,
Philadelphia—For Liverpool—July 5—Steamer
give all news received to date
the
of disasters to ves"
Jfon.
Saiur.
Liverpool,steam d.
•
sail...d.
Do
•
c.
•
S32
764
7(4
m
mm
Bia
Bifl
B16
”32
m
....
....
•
W
....
....
....
U32
U32
U32
....
....
m
B18
B16
516
516
M
o
O
pi
85
P*
mm m
....
30*
30*
30*
CO
....
....
....
Amst’d’m, steam c.
Do via Leith d.
30*
He4®3l6 n64®316 1*849310 ”G493i8
8
^'1364 316® *3<34 316®l364 310® I3g4
316
816
3ie
316
7329% 732® % 7329%
7329%
764
784
764
764
It
Per 100 lbs.
following
We
Liverpool.—By cable from Liverpool we have the
&c., at that port.
statement of the week’s sales, stocks,
add previous weeks for comparison.
}
June 17.
June 24.
55,000
29,000
4,000
Sales of the week
bales
Of which exporters took....
Of which speculators took ..
Sales American
4,000j
Actual export
Forwarded
Total stock—Estimated
Of which American -Estini’d
Total import of the week
Of which American
Amount afloat
Of which American
The tone of the
July 1.
j
48,000
2,tOO
57,000
1.000
41.000
8.000
8,000
2.000|
1,000'
37,000
22,000
9,000
10,000
6.000
847.000
626.000
11,00..
854,t 00
6b2,000
50,000
5,000
39,000
5,000
8,000
27.000
11,000
195,000:
7,000
807,000
565,000
11,000
5,000
130,000
10,000:
120,000
7,000
July 8.
5,000
2,000
780,000
528,000
34,000
4.0«>0
137.000
17,000
July 8 and the daily closing prices
spot cotton, have been as follows :
Saturday Monday. Tuesday.
)
Market,
\
Firm.
In buyers’
Good
favor.
business.
Mid. Orl’ns.
5l516
51^10
515,e
51516
Mid. Sales..
8,000
Spec. & exp.
1,000
10,000
2,000
Upl’ds
Wednes.
Thursday.
Iriday.
Irregular.
Firm.
Steady.
12:30
£
p.m. J
Steady.
Steady.
£
Steady.
Dull.
Market,
J
4 p.m.
5%
578
5%
578
10,000
10,000
1,000
1,500
Dull at
1-64 (a 2-64
Easy at
a
decline.
decline.
Steady.
Easy.
Sat., July ‘J.
Open] High
'*
i a:
£
January, 1888. delivery..
p
5 63 means
DAILY CLOSING
Open High Low. Clos.
Jul}" delivery
August- delivery
September delivery
October delivery
Oats have been variable and unsettled, with some irregu¬
larity, futures showing depression, although spot lots were in
good demand at full prices. To-day there was an advance of
owing to the brisk regular trade, with stocks in few
hands.
31%
Barley malt is in fair
demand.
following are the closing quotations :—
The
S nth’n com. extras..$3
Smthern bakers’and
# bbl. $2 20»$2 95
Superfine
Spring .vneat extras.
Minn dearandstra’t.
Wi .tt-r •Oiipp’gextras.
Winter XX & XXX..
2 65 9 3 25
3 15® 3 45
family br ds..$ bbl
Rye flour, superline..
3 75® 4 40
Fine
Corn meal—
35®$3 6 5
3 759 4 50
2 759 2 90
2 209
Western, <bo..„.2 409 2 70
Brandywine
2 709 2 75
Rye-
-
bush.
Spring No. 2
Red winter, No. 2
Red winter
White
orn -West, mixed
80 O
82 9
87%3
f»
82
82 9
44 9
45
47
45
50
46
west. mix. No. 2.
West, white
West, yellow
White Southern..
Yellow Southern.
9
9
9
9
9
87 *
8J%
88%
90
88
46
49
47
53
48
State & Pa., $ bush. 57
9
Oats—Mixed
.....33 9
White
38%®
No. 2 mixed
343*9
No. 2 white
39%9
,
45%
2 35
Barley—Canada
9
Two-rowed State
Six-rowed State
Malt—State, 6-roved.
State, 2-rowed
Canada
Peas—Canada
9
®
78
67
85
65
9
9
61
36%
42
35%
40%
....
....
....
85
75
9 100
9
66
statements
breadstufla to market is indicated in the
below, prepaid by us from the figures of the New
ExchangeT*WtH*¥&k£ive
5 55
5 55
July 24, for each of the
5 58
5 58
5 56
5 56
5 55
5 55
5 38
5 33
5 33
5 36
5 36
5 35
5 35
5 28
5 28
5 28
5
5 26
5 25
5 25
5 24 ! 5 24
5 24
5 23
5 23
5 22
5 22
5 28
5 26
5 26
5 26
5 24
5 25
5 25
5 25
5 25
5 24
5 24
5 24
5 24
5 22
5 22
5 21
5 2L
5 25
5 25
5 25
5 25
5 24
5 24
5 24
5 24
5 22
5 22
5 21
5 21
Dec.-Jan
33%
31%
5 55
i 5 r'H
5 26
Fri.
33%
31%
31%
5 55
5 29
Nov.-l)ec...
Thurs.
33%
31%
31%
5 56
5 39
Oct.-Nov...
Rye has been dull and drooping.
-
5 56
5 29
5 29
Holidays.
33%
31%
31%
5 56
5 39
5 39
July delivery
August delivery
September delivery
5 50
5 58
5 29
Mon.
Sat.
5 58
5 58
5 39
OF NO. 2 OAT8.
Wed.
Tues.
DAILY CLOSING PRICES
5 53
5 60
8ept.-Oet...
47
48
....
....
5 55
5 58
5 60
....
45 %
5 55
5 58
5 60
Fri.
44%
5 56
5 5-5
5 60
PRICES OF NO. 2 MIXED CORN.
Wed.
Thurs.
Tues.
Mon.
45
44%
45%
46
46%
40%
Holidays.
47
47%
47%
5 56
5 58
Aug.-Sept..
September.
the growing
York Produce
the receipt at Western
like and river ports, arranged so as^Cn tMLcyarethe comparative movement for the week ending July 2, 1887, and since
d.
5 53
5 60
at the West,
d.
5 58
5 59
5 60
89%
90%
89%
90%
d.
5 60
5 59
5 60
8689
85%
85%
89%
90%
95%
The movement of
|
High L<no. Clos.
5 59
July
July-Aug... 5 59
Fri
86%
84%
85%
89^8
90*$
953s
Sat.
Tues., J uly 5.
5 53
559
Thurs.
85%
84%
85%
The lower prices have not materially increased the
export demand, and yesterday No. 1 mixed had only a mod¬
erate sale at 45@45^c. in elevator and afloat.
White corn
declined, and prime sold at 49@ 50c. in elevator. To-day the
market was a fraction dearer, with No. 2 mixed by canal sold
at 45;% e. afloat.
spring,per
5 5,8
5 59
Wed.
85%
84%
8558
crop.
Wheat
5 58
5 59
Tues.
^
.
May, 1888, delivery
95%
95%
Indian corn has been depressed by copious rains
which have greatly improved the prospects for
Easy.
5 08
5 59
W
©
£
£>
Very
d.
a.
w
o
December delivery
3 15 9 3 30
d.
d.
:
Southern supers
d.
d.
;
July delivery
August delivery
September delivery
Patents
d.
d.
Mon.
Quiet.
steady.
Mon., July 1.
Low. Clos. : Open
2 RED WINTER WHEAT.
Sat.
Quiet.
I3P* The prices are yivcn in pence and Glihs, thus:
563:7)4rf., and 6 01 means 6 1-6 Id.
...
speculation in wheat has been rather sluggish since the
beginning of this month. To guard against a ‘‘corner,” it has
been decided by the officials of the Produce Exchange that
“No. 1 hard spring” wheat may be delivered on contracts.
The export demand has been very large, and yesterday
amounted to more than half a million bushels, including
No. 2 Chicago spring at 82}4@82%c., delivered; No. 1 Northern
spring, 84c., delivered; No. 1 hard spring, 85}4@86c., delivered,
and No. 2 red winter at 883^@8834c., delivered; and specula¬
tive values advanced on this movement.
To-day holders
were firmer, but the export demand was less active, though
still good.
The
3 10 9 3 45
3 509 4 50
4 309 4 80
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.
Jan.-Feb-...
prices, checking trade.
Fine
The
T
as
as
FLOUR.
5%
5%
8,000
1,000
5*5,6
51«»i6
8,000
1,000
Futures.
Market,
well
business
Liverpool market for spots and futures each
day of the week ending
12:30 p.m.
unchanged, but toward
improving tendency, in the volume of
in prices. To-day holders asked higher
DAILY CLOSING PRICES OF NO.
d.
Spot.
an
•
Barcelona,steamd.
Genoa,steam.... d.
Trieste, steam...d,
Antwerp, steam.d.
of
close shows
*<
d.
sail
Do
332
•
sall....c.
Reval, steam
Fri.
•
Hamburg, steam.c.
Do
Thurs.
—
i
Bremen, steam..c.
Do
sail
c.
Wednes.
/....
/ *16
J
7
1
Havre, steam ...c.
sail
Tues.
,
•
•
Do
follows :
freights the past week have been as
Cotton
Friday, P. M„ July 8,1887.
The flour market has been dull and
.
British King,
Bels carrying cotton from United States ports, &c.:
Sapphire (Br.), steamer.—During the week ended Juno 11, 83 hales of
cotton were saved from the steamer Sapphire, sunk at Texel,
making in all 106 bales saved this year.
*
BREADSTUFFS,
2—Ship Margarethe, 2,647.
29—Steamer Pavonia,
—July 5—
Orleans—For Bremen—July
Boston—For Liverpool—June
Below we
61
THE CHRONICLE
1887. J
July 9,
-
'
26.
Receipts at
-
Flour.
last three years:
Wheat.
Corn.
Oats.
Barley.
Rye.
Bbls.lWlhs Bush.60 Ihs' Bush.56 lbs Bush.32 lbs Bush AH lbs Bush.56 lbs
4,781
10,912
495,337
537,712
88,034
92,264
1,920
4.175
40.750
0,240
122,715
82,345
Milwaukee...
225
0,400
5,104
31,120
29,309
6,561
Toledo
1,311
25,5:11
37,874
*
2,205
Detroit
43,525
8,300
44,765
4,008
Cleveland
Chicago
......
•••••«
Wednes., J uly 6.
Open High
;
^Low. Clos)
;
Thurs.,
J uly 7.
Fri., July 8.
|
...
St. Louis.
Open High Low. Clos.
Open High Low. Clos.
d.
d.
d.
d.
d.
d.
d.
d.
d.
a.
d.
d.
July
July-Aug ..
Aug.-Sept..
September.
Sept.-Oct...
Oct.-Nov...
5 52
5 52
5 52
5 52
5 55
5 55
5 55
5 55
553
5 53
5 52
5 52
5 52
5 52
5 52
5 52
5 54
554
5 54
5 54
5 52
5 52
5 52
5 54
5 51
5 54
5 54
| 5 53
5 52
5 52
5 52
5 52
5 52
554
554
5 54
5 54
5 31
5 32
5 31
5 32
5 33
533
5 83
5 33
i 5 32
5 22
522
522
5 22
5 24
5 24
5 24
5 24
!
Nov.-Dee...
5 19
5 20
5 19
5 20
5 22
5 22
5 22
5 22
Dec.-Jan....
518
519
5 18
519
5 20
5 21
5 20
521
Jan.-Feb... 518
519
518
519
520
521
5 20
5 21
.
5 53
5 52
5 52
!
5 52
5 52
5 52
5 52
j
5 52
5 52
5 52
6 52
5 32
5 31
5 31
5 22
5 22
5 21
5 21
! 5 20
5 20
5 19
5 19
5 19
5 19
5 18
5 18
519
519
518
5 18
...
11,254
343,203
293,115
193,570
600
042
825
3,550
110,400
139,000
1,800
2,200
988,204
1,54 7,004
947,817
70 4,648
842,517
27,187
20,881
20,130
9,768
5,931
31,134
10,271,408 86,038,257 79,2)7,733 03,143,952
8,016.685 56,434.338 90,438,552 53,703,508
9.313,458 98,797,042 94,579,993 53,551,855
21,343,442
20,222,387
16,653,125
1,953,650
2,817,991
4,027,708
Peoria
46,000
103,736
Tot. wk. ’87.
195,485
Same wk.’86.
102,676
121,613
773,186
099,832
794,998
Same wk.’85.
Since July 24
1886-7..
1885-6
1884-5
..
1,709,410
->
The comparative shipments of flour and grain from the same
ports from Jan. 1 to July 2, 1887, inclusive, for four years
show
as
follows i
THE
62
*1886.
1887.
Floor...
*1885.
*1884.
6,378,649
5,194,438
6,240,958
35,648,167
22,404,786
31,458,785
4
3,410,b30
0,940,885
23,825.770
4,413,315
rnmmm
403,325
852,016
21,397,288
52, 42,144
25,956,055
2,629,344
971,158
Total grain....
03,700,537
97,136,853
102,036,019
Wheat..
Corn....
Oats....
Barley.
Rye....
*
.bush.
..
22,779,660
•
rnmmm
m n
rnmmm
Include
Below
m
••
one week
5,259,782
23,022,214
47,065,115
25,902,134
2,70 i,*74
3,146,705
101,812,512
ports for four years:
1887.
1886.
1885.
1884.
Week
Week
Week
Week
Ju’y 3.
July 4.
bbls.
July 2.
84,456
61,248
143,014
July 5.
75,454
bush.
803,189
71.459
870,261
148,284
194.566
546,524
1,898,911
98.263
478,347
786.404
545,170
18,533
16,313
10,214
14,067
8,045
19,225
1,513,409
839,819
3,590,422
1,147,874
Flour....
Wheat........
Cora
Oats
.
56^.086
15,483
Barley
Rye
Total...
The rail and lake
weeks
.
^
15,874
shipments from same ports for last four
were:
Oats,
Barley,
Rye,
bush.
bush.
bush.
1,344,356
1,167,027
J’ne 18/87 241,J40 3,098,922
1,176.071
C33.528
592,562
899,923
bush.
15,433
15,8 8
3V273
Jnell/87 244,767 1,562,992
1/250,641 1,223,695
19,648
Tot., 4
w.
4w’ka’86.
4,933,045 3.349.713
6,990,314 4,196,373
902,693 11901,493
822,657 4,2o3,173
The receipts of
week ended July
14,067
13,304
17,419
18.599
63.389
83,297
91,728
97,356
flour and grain at the seaboard ports for the
2, 1387, follow:
Wheat,
Flour,
At—
Hew York
Boston
Montreal
Corn,
bush.
bush.
bbls.
Oats,
Barley,
bush.
bush.
1,650
94,652
12,988
39,876
500
53,1.0
10,322
989,637
Total week... 207,459 3,169,76 3
486,405 1 ,113,568
Oor. week '86.. 216,200
552,913
493,313
4*2,838
7.738
7,8)5
70,004
....
Philadelphia...
Baltimore
Richmond
Hew Orleans...
1,450
7.318
60,700
2i 0,539
115,991
320,029
1,224
30,170
11,700
374,090
165.700
829.00*6
30,500
234,000
•63,800
12,937,750
3,723,037
1,379,779
1887.
bush.
Barley
Rye
Total grain,...
bush.
4,019,531
263,606
Detroit...
82,009
69,000
179,253
90,000
15,000
Oswego........
3t. Louis
Do afloat...
Cincinnati
Boston
79.566
6.000
13,230
6,289
1,000
9,976
21,002
101.961
11.000
50,000
9.6 L6
28.0C0
3,752
1,732,-^97
36,906
18*865
52,000
30.000
54.000
14,000
8,000
36,356
121,694
359
22.663
4,249
5,813
24,684
191,277
66,204
16,306
11,335
316,972
17,500
14,335
2,692
220,910
237,173
275,-508
137.216
340,301
10,181
324,180
71,854
248.921
22.500
18,300
34,540
340,425
Kansas City...
.
Baltimore
bush.
6,850
72,652
Philadelphia..
..
16,083
9L.OOO
163,793
Indianapolis
673,733
Barley,
899,655
Toronto
Montreal
Peoria...
bush.
24.000
10,433
15,000
afloat
Milwaukee
Do afloat
Duluth
Toledo
Bye,
bush.
247.10 4
rnmmm
m-
m
900
35,822
3,808
87,531
5,392.056
8t. Paul....
On Mississippi ...
On lakes
On canal & river.
Tot. July
2/87.
Tot. June25/87.
Tot. July
3/86.
Tot. July
4/85 t
Tot. July
5/841
350,000
252.200
2,381,193
1,904,0 0
1,076.300
738,700
13,100
91,000
43,900
34;413,127 10,1^9,670 2,780,933
38,620,212 10,854,517 2,8977180
28,195,380 9,188,857 2,320,902
37,370.024 7.331,916 3,208,354
13,405,141 7,254,372 3,718,533
221.247
515,186
135.42S
212,681
115,936
9 4,460
t Minneapolis and St. Paul not included.
THE
DRY
GOODS TRADE,
New York,
Friday, P. M., July 8,1887.
considerable influx of wholesale
buyers from
week and a slightly improved busi¬
ness was reported by commission houses and
importers, bub
transactions were only moderate in the aggregate amount.
The domestic co nmission houses continued to charge up, and
make liberal shipments of staple -cotton goods, dress fabrics,
ginhams, prints, &c., on account of back orders, and in like
manner there was a large movement in hoi3ery, knit underwear
and fancy knit woolens.
The jobbing trade was for the m ost
part quiet, as usual at this time of the year, but rather more
than an average package busine33 in domestics, prints, flannels,
&c., was done by a few of the principal jobbers. The event of
was a
interior markets the past
2,375
2,150
35,010
for the period from Jan
1887, compare as follows for four years:
7,05J,807
Oats,
1,200,310
Buffalo
There
The total receipts at the same ports
Floor.......bbls.
Com,
bush.
2.854.844
Albany....
bush.
331,000
Wheat
Corn
Oats
Wheat,
la store at—
Naw York
Do afloat
Rye,
696,5i 0
tO, 445
57,013
12,307
87,977
22,205
69,716 2,391 050
.....
1 to July 2,
comprising the stocks in granary
principal points of accumulation at lake and seaboard
ports, and in transit by water, July 2, 1887 :
Minneapolis
Oorn,
Flour,
Wheal,
ending—
bbls.
bush,.
July 2/'87 197,893 2,574 018
Jne25/87 210,793 4,665,566
Week
,
The visible supply of grain,
Do
shipments from Western lake and river
[VOL. XLV.
at the
Chicago
extra.
the rail
are
CHRONICLE.
*1836.
*1885.
6,163,799
7,357,803
*1884
37,532.286
16,807.376
26.8 19,195
49/116.376
20,718,969
52,150.975
16,242,812
2,207,165
536,052
18.579,253
18.796.491
2,399,403
267,092
2,363,106
618,934
83,357,810
87,360,500
94,645,430
6,350,510
18,328,610
2.i,631,576
15,038,035
2,408,128
2,313,933
67,215,362
the week
was
the failure of the commission house of Jolm
Slade & Co,, with
reported liabilities of $775,000, nominal
$1,200,000, and preferences of about $200,000. The
The exports from the several seaboard ports for the week
direct cause of the failure is attributed to the stringency of the
ending July 2, 1887, are shown in the annexed statement:
money market.
Exports
Flour.
Oats.
Fecu.
Corn.
Wheat.
Rye.
from —
Domestic Cotton Good3.—The exports of cotton goods
Bush
Bush.
Bush.
Bush.
Bbls.
Bush.
from this port for the week ending July 5 were 3,033 pack¬
64.252
New York 1,430,517
3,717
2,777
213,065
ages,
valued at $240,131, These shipments include 835 to
50,056
Boston...
23,068
41,4-33
N. News..
1,321
81,505
South America, 774 to Mexico, 6G6 to China, 409 to the West
9*787
Montreal.
101,097
21,399
13,811
41,207
179
Phlladel.
Indies, 130 to Aden, 117 to Central America, 50 to British East
322,639
Baltim’rt
85,713
42,356
390,661
Indies, 35 to Europe, and 17 to all other countries. Since the
478
N. Orl’ns
25,397
7,020
Norfolk..
16,455
1st of January the exports aggregate 103,580 packages, valued
Of this total China has had 56,293 packages,
Tot. w’k 2,365,975
179,473
393,042
13,504
46,984 at $6,136,934.
8'me time
valued at $2,654,169 ; and 19,986 packages, valued at $1,433,1886.
143,201
161,035
8,779
905,515
87,071
1,630,341
668, have gone to South America. For the similar period of
1886 the exports to all ports reached 114,057 packages and in
We add the
The destination of the exports is as below,
1885 were 91,072 packages.
There was a somewhat freer
corresponding period of last year for comparison.
demand for staple cottons by jobbers and the manufacturing
trade and new business, coupled with deliveries on account
Wheat.
Corn.
Flour.
of back orders, reached a very fair aggregate. Stocks of plain
Exports
and
colored cottons are exceptionally small for the time of
1887.
1886.
1887.
1886
1886.
1887.
for week
Week.
Week,
Week,
Week.
Week,
to
Week,
year, and prices remain firm all along the line.
Print cloths
July 3.
were only in moderate demand, and prices ruled firm on the
July 2. July 3. July 2. July 3. July 2.
basis of 3 V£c. for 64xG4s and 3c. for 56x60.
Stocks last Sat¬
Bush.
Bush.
Bush.
Bush.
Bbls.
Bbls.
924,259
242,474
G3L714 urday and for the three previous years were as follows:
97,090 1,139.803
117,275
Un.Klng,
*
Include
one
week extra.
assets of
......
...
...
..
—
Contin’nt
B.AC.Aiu
W. Indies
Brit, col’s
12,327
592
20,269
21,575
7,479
19,504
14,438
10,768
Oth.o’n’ts
543
bOO
Total...
179,473
1,217,102
9,070
706,082
106,193
20,301
14^.201 2.365,975 1,630,311
170,853
10,761
38,523
13,325
1.313
1,100
300,042
905,515
By adding this week’s movement to our previous totals we
have the following statement of exports this season and last
eeason:
Wheat.
Flour.
Corn
Bbls.
e.
AC. Am...
Yi eat Inditd.
B tt.CoTnles
Oth. countr’s
Totnl
5,770,814
453,287
037,565
693,274
448,539
33,131
8.336.610
Bbls.
3,9:0,928
142,643
7ll,81S
756.27?
485,04£
27,501
6.080.81
Buxh,
85,854,859
31,504.632
45,412
8,181
••••••••
Bush.
Bush.
Bush.
17,830.727
22.368,694
9,508,313
651,825
451,468
34,199
54,851
30,252,711
16,423,716
1,029,468
289,587
78,953
59,530
a3.n: 2,350
54.133.905
11,809.483
15,101
5,184
13
135,446
49,412
n7.543.430
29.715.920
.
July 3,
July 5,
1886.^
1885.
66,000
434,000
July 5,
65,000
123,000
359,000
320,000
482,000
285,000
65,000
20,000
300,000
185,000
Outside speculators (est)
Total stock (pieces)
495,000
1884.
363,000
274,000 1,423,000 1,315,000
prints were in fair demand at first hand*, and a pretty
gcod business was done in dress and staple ginghams, cotton
dress goods and cotton hosiery.
Dark
Domestic Woolen Goods.—The situation in the market for
Sept. 1/96, Sept. 1, ’85, Sept. 1, ’86, Sept. 1, ’85, Sept. 1. ’86. Sept. 1/85,
Exports to— to July
to July
to July
to July
to July
to July
3, 1886.
2, 1887.
3, 1886.
2, 1887.
3, 1886
2, 1887.
Un.Klnadom
C\ i.at...
July 2,
Stock of Print Cloths—
1887.
Held by Providence manuf’rs. 149,000
Fall River manufacturers... 224,000
Providence speculators
57,000
clothing woolens lias not materially changed,
new business
haviDg been light and unsatisfactory, while there was a steady
movement in some descriptions on account of previous trans¬
actions.
Really desirable makes of cassimeres, suitings,
worsteds and overcoatings are steadily held by agents, but it
is a buyers’ market for such goods as are not strictly up to the
mark.
Kentucky jeans and doeskins were in moderate
request, as were satinets, and prices remain unchanged*
Cloakings ruled quiet, but a fairly good business was done in
Jersey cloths and stockinettes. All-wool and worsted dress
goods were distributed in liberal Quantities on account of
July 9,
THE CHRONICLE.
18&7.]
back orders, and a fair amount of
Flannels and blankets
by agents.
business
new
reported
was
leas quiet,
were more or
pretty good demand for shawls, skirts, car¬
pets, wool hosiery, heavy underwear and fancy knit woolens
by package buyers.
but there was a
Foreign Dry Goods.—At first hands the demand for
imported goods was somewhat irregular and upoi the whole
sluggish. Light-weight clothing woolens, linen goods, hosiery
and fabric gloves were more active in some quarters, and there
was a light hand-to-mouth business in dres3
goods, silks, vel¬
vets, white goods, embroideries, &c. The j ibbing trade in
foreign goods was by no means active, but fair for the time of
year.
Importation*
of
Dry Goods*
^
The importations of dry goods at this port for the wxk
ending July 7,1887, and since Jan. 1, and the same facts for
the corresponding periods are as follows:
2
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Turpentine, spirits
CO Ci O'
,
-4 CD
s
—
j*
«•
3
00
$
&
bush
bales
bbls.
481,042
to —J Hi
4 X
pigs.
47,607
12,691
1,066.770
218,132
hlids.
bbls.
19,923
3
China, «Scc.—
China
Eartbenw
21,475
19,022
'
730
319.483
bags.
61*4*45
55,294
pkgs.
pkgs.
pkgs.
...pkgs.
pkgs
bbls.
55,573
20,318
422,243
787,799
043,570
46,626
19,970
419.483
767,527
669,219
bbls.
.
Glass
Glassware.
Glass plate.
Buttons
293,107
Coal, tons...
Cocoa, bags.
Coffee, bags.
Cot ton .bales
Drugs, Ac—
Bark, Peru.
Blea. powd.
2,327
.
706.317
170.393
tcs. & bbls.
kegs.
slabs.
47,1 39
86,353
pkgs.
12,329
bbls.
583
hhds.
1.476
38,690
66,426
..pkgs.
..pkgs.
boxes &
cases.
hhds.
bbls.
bales.
following table, based
1,201
2,391
..
Flax
Furs
Hair
Hemp, bales
Hides, Ac.—
Bristles
..
.
1,877!
673
Hides, dr’sd
India rubber
732
4
256
Ivory
Jewelry, AcJewelry
...
Watches
linseed
Molasses....
.
.
Metals, Ao—
Cutlery....
Hardware.
,S7i*i
259
1,758
1,2 >6
42,58c
75,79^
2,858
4
0
>
baskets..
Wines
value.
13,63t i
42.6181 Fancy goods
3,914 Fisli
11,373;
•
2,09 4
16,174
180,291
lemons
..
Oranges
.
...
Nuts
....
2,002 Hides, undr.
3,7 14 Rice
49,326 Spices, Ac.—
928
Cassia
..
...
2,536
30«!
57,659
114,327
117,735
54,634
$
892,005
Cork
Fustic
203,279
4,702,418
'430,298
41,450
85,565
140,354
65,654
$
Q 1 fl
1 Qt
275,443
291,683
320,273
236,617
1,459,990
1,195,293
853,547
331,54 2
1,099 673
855/90
602,201
431,531
8,215,161 10,548,232
63,221
171,480
79,631
Ginger..
1,678; Pepper....
863- Saltpetre
5,Oo2 Woods-
63,425!
4,011.073
Fruits, Ac.—
Raisins
’
988
Cbamp’gne
40,756 Wool, bales.
862 Reported by
5,952!
263,118
550,753
Tobacco....
36,94' ! Wines, Ac.—
4o0
3,581
46,85b
Sugar, boxes
and bags...
826
6,7 6
1,974
77,015
2,013,059
1,922,S64
1,147,293
21,v 03j Tea
'
Gunny cloth
1,972
tcs., A bbls.
22,200
42,324
1,284
5,359
9,798
35,99^
5,522
13,216
l,5i»3
21,495
202,83b
Lead, pigs.
1,791,9131 Sugar, hlids,
1.694
.....
2.546
40,866
2,467,775
Tin, boxes. 1,006,4^3
Tin slbs.,lbs 12,222,52 > 12,385,574
45,766! Paper Stock.
129,400
189,468
18,3»7
.
1886.
lO.OOh
Steel
92.536
54^.SJ7
173,672
591,721
140,876
30,033
35,947
35,335
9,282
976
1,460
38,729
70,910
30,065
45,016
98.373
109,745
77,575
80,379
upon
Custom House
returns
•
61,795
75,608
467,008
140,018
45,217
Logwood .*.
407,342
97,627
284,065
279,043
Manotranv.
3 U.83*>
2<h.S13
Same lime
previous
Ashes, pots
ARlies, pearls
RR. bars
7,7<’0!
27,360!
2,344
1
Gum, Arab.
Indigo
Madder, Ac
..
5,202j
8,114
233,782
118,077
30,241
Nb.
Tobacoo
Tobacco
6 49.253
f
74.025
26,671! Spelter, lbs 3,932,9s5
7,066
Cochineal..
Gambier
Oil, Olive..
Opium
Soda, bi-cb.
Soda, sal...
Soda, ash..
28 >,357
30,207
1
.
19,491!
2,940
exports from New York of all leading articles of
domestic produce from Jan. 1 to July 5, in 1887 and 1886.
Metals, Ac—
Iron, pig...
“
14,
471
,
shows the
e
17,355!
1,714
41,450
145,08
255,560
2,408
Stearine
The
OD
O' X
cocco<jy
1887.
55,791
1,364,084
125,979
13,530
galls.
year.
bbls.
bbls.
647
86
lbs.
414
106
30,169
13,538
bids.
bbls.
2,572,65 6
1,397,504
Corn meal
Wheat
bbls.
bush.
Rye
bush.
165,038
24,322,162
281,323
81,608
56,124
Beeswax
|
23,459
—
*
anuary 1 to July 1, in 1887 and 1886: «■
fThe quantity is given in packages when uot otherwise specified.!
1
58,818
368.397
26,900
51,278
1,130
48,074
162,559
port from
1886.
568,838
56,687
237,575
66,719
72,731
Imports of Leading Articles.'
The following table, compiled from Custom House returns,
shows the foreign imports of leading articles at this
1887.
18,034,438
8,904,303
3,762,867
213,865
3,831,359
167,286
Exports of Leading Articles of Domestic Produce.
3
— —
| ci 'O -1
1
8,940,222
pkgs
Sugar
Tallow
c>-
•
If* CO O'
8,518,242
bush.
bush.
bbls.
bbls.
bbls.
Wool
-
bush.
bbls.
Rosin
Tar
Pitch
Oil cake
Whiskey
oxcibco
rc — to
170,932
10,652,348
103,722
20,740,663
33s,178
bbls
Lard
Lard
0)1'
CO 10 K-I »0 -4
Cl X O' — 0*
OiClCl
2,414.934
165.038
52.786
Turpentine, crude
Sugar
— — —
o !
to »0 IP*
3,146.887
bbls.
bush.
sides
Eggs
•—•v
do
1
M M
bbls.
bales.
,
Spelter
— CO — tc CO
O'
1,314
51,919
No
bales.
Hogs, dressed
to O’ CO «P* CO
CO — CO O' —
1
1,310
72,664
bags
.....bags.
.*
Butter
Cheese
*
no
CC QD -4 CO —
-j x x c: —
O'- — CD — * 4
to
hbls.
..bush
.
Cutmeafs
»-•
xcmVm
CD
M '1
o
Rye
Corn
Oats
Pork
Beef
MM
-1
a
a
CC CD
It- IP-
—
lo
K
If*©
r
Corn meal
Wheat
Same lime
previous year.
Provisions —
0»
—
?r
X M
to
Flour, wheat
Peanuts
1'1^ X to
h*
IP-
to
hhls.
Rice
2S
to
io
Ashes
Beans
Breadstuff’s—
Oil, lard
Oil, whale.......
SB
'l—*
CD
CM
Cl-*
S'
Cl 9
Ol
X
CD
C
Ci
•®ia
oo
4 — '0 to
O'
:
Naval Stores—
-4 -J
X
upon
Since Jan. 1,
1837.
Hops
— to
X U> CO ip- CO
c — — — to
5 in 1837 and 1S86
Molasses
to
00
articles of domestic
Leather
Lead
Molasses
to O’ M m to
K> M X -4 tO
<4lP* it*
daily reports made to the
Exchange, shows the receipts of leading
produce in New York from Jan. 1 to July
New York Produce
Hides
Hides
— M
CO -4 CO 1-0 CD
— CD O' X —
o
tCM
Ci
j
tO M tO — O'
to -4 c M to
tOtO-JXM
CO
CD Ci
It* to
1
•
•
•
Cl
C0C3
CO *to CD
C
©
H*
•
•
•
M
Cl
JS
•
•
Cl
X
B
t
•
x
CM
K)
o
CO -* CD
X CC C CD tO
c
B
pc CD
jp-bico
oc^-* Vco
►■*
M
—
►
.
•
-i
X
MMtClOW
Cl
c^
O
M
•
CJl
it*
•—
H
CD- O
“to
QD
Ci
55
O
•
•
00
CO
a- CO
to CO W CD M
%
/n
-
CO X iP*
<1 CO o C co
tOXiP-CDiP*
CD CO C
•
Cl
Cl
CO H*
tO
coo
CO CO
CD O'
O 10
00 CD
•
1
1£
»
CO
-J
pi
►
•
h
•
following table, based
Peas
: V
®
i
The
Cotton
Cotton seed oil
Flax seed.
Grass seed
-
o>
CJl
c; x -i
«C © D< © y
a
c
h- X V CO Cl
r
c; m
CO
toV*-
ffi
CO
o
|t*
o
CO J*
i—
►
*
Ip-m
<d
pp
>—* —]
CO
CO
Cl
M^J-P-XtJ
M
•
•
.
•
Receipts of. Leading Articles of Domestic Produce.
Barley
2
!
■
,
H
*P-
O'lP*
'JI
•
1
s
is • :
g ! ! •
S* : :
•
©
: ! !
!
:
t
CO »0 M to CC
O' O to to CO
O O' X 4* CD
O' CO
Ip- o
oo>
00
r
CO
e+
.
•
SP
M
CD
^1 to M -O
CO CD
: ;
•
to to W ci
|P-CC
1
P
r-t
to
o**
w
CO
3J •
W
a>
f
**
w
§!
9
o
g* : P: §
V : : '• g
g: : : \ g
t—M
1
•q
s
•"1
S
Ugisoel Flax Silk. Opjot Wool Slanufi
H
ft-
o Sp
tt
2
hm
&
aocttu-res
•ill
•
;
a
p
o
Flax Silk Cot n Wool anuf
r-f
50
H
£
63 2
J
Breadstuff's—
Flour, wheat
Flour, rye
Oats
bush.
Barley
bush.
Peas
Corn
Caudles
Coal
Cotton
bush.
bush.
pkgs.
21,947
344,399
104,692
38,924
J
Naval Stores—
Crude turpentine
bbls.
bbls.
'
Rosin
Tar
Pitch
Oil cake
Oils—
bbls.
bbls.
bbls.
cwt.
Whale
gals.
gals.
gals.
gals.
gals.
Sperm
Lard
Linseed
Petroleum
Provisions—
Pork
Beef
Beef
Cutmeats
Butter
Cheese
Lard
bbls.
bbls.
tierces.
lbs.
lbs.
lbs.
lbs.
bbls.
11)8.
Rice
Tallow
Tobacco, leaf.....
Tobacco
bbds.
bales and
cases.
Tobacco,manufactured
lbs.
Whalebone
lbs.
.......
7,030,757
26,966
tons.
pkgs.
bales.
bales.
Spirits turpentine
133.094
..bales.
Domestics
Hay
Hops
1,551
1,342
1,095
61,530
15,212,125
80,254
573,151
4.676
108,320
13,899,783
24,503
37.652
423.763
113,840
51,023
16,122
295
142
12.817
92,510
4/03
2,OIL
9,316
1,060,955
81,237
4,185
2,122
1,227,98
9.415
90,853
276,923
35,770
353,673
25,768
181,871,953
191,67^,051
95,181
95.015
32,448
20,942
26,412
22,103
126.207,847
3,750,033
23,518,241
88,397,821
9,116
17,461,383
2 >,287
28.264
4,146,889
83,249
113,484
47,373
135,028,406
5,055,944
28,055,391
118,605,301
8,630
12,828,992
36,113
26,182
4,379,915
103,582
i
'!•••"
64
THE
CHRONICLE.
[VOI*
©auafliau: atid ffouetijii gawks and Saatuers.
CANADIAN.
L,
SURPLUS,
-
-
-
Railway Share Trust Co.
$6,000,000 Gold.
(LIMITED).
0. F. SMITHER8, President.
W. J.
The United States Life
Insurance Co.
THE
$12,000,000 Gold.
-
...
financial.
FOREIGN.
Bank of Montreal.
CAPITA
XLV,
BUCHANAN, General Manager.
No* 4
RANK
THE
IN
CITY
OF
(ORGANIZED
2 1,
NSW
YORK*
IN 1860.)
262 & 263 Broadway, New York
BUILDINGS
G. H. BURFORD, President,
NEW
59
No».
TORE
61
&
LONDON, ENGLAND.
OFFICE:
WALL
Agents.
Buy and Bell Sterling Exchange, Francs and Cable
Transfers; grant Commercial and Travelers’ Credits
available In any part of the World; issue drafts on
Bd make Collections In, Chicago and throughout the
Dominion of Canada.
liondonlOffice, No. 22 Abcknrcli Lane.
Capital Paid Up, £911,360 Sterling.
-
All Death Claims paid without discount
This Company undertakes the business of Trustee
to
Loans
of
approved Railways, negotiates and
issues Loans on the London Market, acts as Agent for
Railways and other Corporations, either In the mat¬
BRANCHES IN
Essex Centre.
ONTARIO.
Toronto.
do Yonge St.Br.
Welland,
Woodstock.
Niagara Falls.
Port Colborne.
Fergus.
Galt.
8t. Catharines.
ngersoll.
St. Thomas.
BRANCHES IN NORTHWEST.
Winnipeg.
Calgary.
Brandon.
Agents in London:
Lloyd’s, Barnett’s & Bosanquet’s Bank, limited,
or
Registration of Stocks in London,
Agents in New York:
Bank op Montreal,
Promptest attention paid to collections payable in
of Canada.
Approved Canadian business paper discounted at
the Head Office on reasonable terms, and proceeds
remitted by draft on New York.
Dealers in American Cur’y and Sterling Exchange.
ny part
•
Blake, Boisseyain 8c Co.,
LONDON,
$5,799,200 Paid Up.
$1,700,000
•
Special attention given to
18
28
BROTHERS
Wall
State
&
CO.,
Street, New York,
Street,
Boston, Mass,
ADOLPH BOISSEYAIN
Wall Street.
HENRY HAGUE,
i
JOHN B. HARRIS, JR., J
AGENCY
Agents.
THE
OF
Bank
Heinemann 8c
52
WALL
STREET.
Buy and sell Sterling Exchange and Cable Trans¬
Issue demand drafts on Scotland and Ireland,
fen.
Canada. British Columbia and San Francisco.
CIRCULAR NOTES Issued in Pounds Sterling
available in all parts of the world.
CUMMER*
-l-n on
CREDITS
ISSUED
for use
In Europe,
SIAJL
Mna, Japan,
East and
and the
Brazils,
West Indies
River Plate, Ac.
Bills collected and other banking business trans¬
acted.
D. A. MCTA VISH, ? Aamta
H. ST1KEMAN,
J Agents.
LONDON.
LONDON, Head Office, 3 Angel Court.
2IEW YORK Correspondents,
J.&W. Beligman & Co.
BOSTON Correspond’ts, Massachusetts N. Bk.
Paid-up Capital,
Deserve Food,
-
- - -
•
-
-
-
$6,000,000
1,500,000
-
400,000
general banking business. Issue Comjaercial credits and Bills of Exchange,available In all
a
Bonds, Shares, Ac., Ac. on
the 8tock Exchange.
Interest allowed on Deposits, subject to 60-days
sight drafts, at Bank of England rate, and
one per cent below that
rate subject to
Negotiate Railway, State and City Loans.
The Bank of Australasia.
(Incorporated by Royal Charter, 1835.)
4 Tlireadneedle Street, London.
Paid-up Capital, ------ £1,600,000
Reserve Fund, ------800,000
Reserve Liability of Proprietors
under the Charter
1,6U0,000
Letters of Credit ana Drafts issued on any of the
numerous branches of the Bank throughout Aus¬
-
tralia and New Zealand.
Bills negotiated or sent for collection.
Telegraphic transfers made.
Deposits received in London at interest for fixed
periods, on terms which may be ascertained on ap¬
Paid-up Capital
—^
v
in 1886.... $111,540,203.00
Assurance
UNION MUTUAL
Life Insurance
Company
PORTLAND, MAINE.
JOHN
E.
DE
WITT,
ORGANIZED
President.
1849.
Write to the Company or its Agents for circular,
The
LOSSES
explaining
Non-Forfeiture
Maine
PAID
PROMPTLY
AND
Law.
WITHOUT
DISCOUNT.
*
The Company is strong, reliable and popular; and
issues a variety of policies suited to the different
circumstances of insurers.
^nbltcatious.
secretary.
READY JULY 12.
CORPORATION.
$7,500,000
«
HAND-BOOK
OF
Saigon,
Manila, Hong
Kong, Foochow,
Amoy,
Ningpo, Shanghai, Hankow, Yokohama, Hiogo, San
Railroad Securities.
Francisco and London.
A. M. TOWNSEND, Agent, 50 Wall Street.
JOSEPH Cl LLOTTS
STEEL PENS
COLD MEDAL PARIS
STKINUART,iManager3‘
3*.N. LILENTUAL, Caa ier.
PRIDEAUX SELBY,
Reserve Fund
4,500,000
Reserve Liability of Proprietors
7,500,000
The Corporation grant Drafts, issue Letters of
Creult for use of Travelers, and negotiate or collect
Bills payable
at Bombay,
Calcutta, Singapore,
pert* of the world. Collections and orders for Bonds.
Rocks, etc., executed upon the most favorable terms
VUED’K F. LOW,
1 .NATZ
Assets, January 1, 1887..... $75,510,472.76
Liabilities on 4 per ct. basis.. $59,154,597.00
Surplus on 4 per ct. basis. •. $16,355,875.74
.
BAN FRANCISCO Office, 422 California St.
Capital,
ties), in Premium Income, in the
in Force, the
Equitable Life Assurance Society ex¬
ceeds every other life assurance com¬
pany, and may be regarded as the
largest and strongest organization of
amount of Assurance
chase and sale of
BANKING
(LIMITED).
In Surplus (namely the exceflfi
of accumulated funds over liabili¬
Outstanding Assurance.... $411,779,098.00
Solicit accounts and agencies of Banks, Railways
Corporations, Firms and Individuals upon
favorable terms; also orders for the pur¬
THE
Authorized
Co.,
Hong Kong 8c Shanghai
Anglo-Californian Bank
ASSURANCE SOCIETY.
New
plication.
FOREIGN.
EQUITABLE LIFE
its kind in the world.
demand drafts.
British North America,
Transact
CO.
62 Gresham House, E. C.,
or
No.
&
Amsterdam, Holland.
of the world; makes collections in Canada
Raw York Agency, No. 61
intec dent of Agencies, at Home Office.
the
execution of
orders for Securities on the New York, Lon¬
don and Amsterdam Exchanges, in corres¬
pondence with
Kf IT- RJUQ
and elsewhere and Issues drafts payable at any of
the offices of the bank in Canada. Every descrip¬
tion of foreign banking business undertaken.
GOOD AGENTS, desiring to represent the Com
re invited to address J. S. GAFFNEY, Super
Commission Business.
LONDON, ENG.—The Clydesdale Bank (Limited.)
NEW YORK-The Bank of New York, N. B. A.
The New York Agency buys and sells Sterling Ex¬
change, Cable Transfers, Issues credits available in
all parts
Absolute security, combined with the largest liber¬
assures the popularity and success of this oom-
THE
OFFICE, MONTREAL.
A
all others, the Insurance remaining in full force
during the grace.
’
GEORGE HAGUE, General Manager.
W. N. ANDERSON, Branch Superintendent.
T»
grace allowed in the payment of
Tontine Bolieies, and ten days’ grace
on
Negotiate Railway, State and Ci4.y loans.
Execute orders for Bonds, Shares, etc., on Com
mission, and transact a general Banking and
President, ANDREW ALLAN, Esq.
Vice-President, ROBERT ANDERSON, Esq.
READ
on
ENGLAND.
CANADA.
•
One month’s
Premiums
pauy.
AND
Capital,
Reserve,
tine.
pany,
Merchants’ Bank
OF
on
otherwise.
Cable Address—PAvy, London.
BLAKE
I
Dividends
or
as soon
satisfactory proofs have been received.
This Company Issues ail forms of insurance, in¬
cluding Tontine and Limited (Non-Forfeltlng) Ton¬
as
ality,
-
SURPLUS, ------- $550,000
H. 8. HOWLAND, Pres’t. D. R. WILKIE, Cashier.
HEAD OFFICE, TORONTO.
Standen, Actuary.
All the profits belong to the Policy-holders exclu¬
sively.
All Policies Issued by this Company are indisput¬
able after three years.
ter of payments of Interest on Loans,
Imperial Bank of Canada
$1,500,000
A. WHMLWRIGHT, Aut SCC.
Wm. T.
STREET,
Walter Watson,)
Albx’r Lang,
)
CAPITAL (paid up),
0. P. FRAUHGH, Sec.
-
EXPOSITION-1878.
THE MOST PERFECT OF PENS
JULY, 1887.
Price in Red Leather Covers, • To Subscribers of the Chronicle,
WILLIAM
102 WILLIAM
B. DANA A:
$1 00
CO.,
STREET, NEW YORK.
75
H
@FedFRASER