Full text of Commercial and Financial Chronicle : June 13, 1896, Vol. 62, No. 1616

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JHE (g financial;
ontmtrrt^11
AND W

HUNT’S

MEECHANTS’

ranttle

MAGAZINE,

BEP RESENTING- TE E INDUS TRIAL AXD COVIEERUi AL IN TERESTS OF T E E UNICED STATES.
[E at :-r ; l s: :

lia< in V:r o f C morass. in the y e a r

1 8 JS,

by the W illiam B, D ana C oM fvK r, in the office o f the Librarian o l Congress.]

SATURDAY, JUNE 13, 1896.

VOL. E2.

T F e e fc

% l i c < £ h c o u ic lc .

A a v e r t k l u g —i f * e r I n c h » p a c e ) .

O n s ilm e .,.................... . ...... #3 SO |Three Months (13 tim es).,$25 00
OneSfonth
a tlmee).. 11 00 Mix Months
(20 “
1300
Two Months
(8 '* , . 18 00 | r.veive Months (52 « ).. 58 00
(The above terms for one month and up ward are for standing cards.)
L o n d o n A g e n t* :
Messrs. E dward * * Sw im , 1 Drapers' Dardens, E, O., will take sub
eriptions and advertisements,and supply single copies o f the paper
a , 1*. each.

W i l U . m H . D A N A C O M P i K V . P u b lis h e r s ,
P in e * l r « l , C o r n e r o f P e a r l S tre e t,
POST OrrtCB BOX 958.
SEW YORK

CL BA RING HOUSE RETURNS.
The following table, made up by telegraph, etc., indicates
that the total hank clearings of all the clearing houses
of the United States for the week ending to-day, June 13,
have been 5914,188.589, against $1.122,713,848 last week and
$t,Q41,032,.Tto the correxpjoding week of last year.
Week jgnutfu, June 13,

C L S A K IV O S .

H a t-n w

6»

Telegraph.

1890.

1895.

nri~m.ua

~ 9'5
-T 9

63,845.020
12,229,495
75,098,084
21,090,008
8,401.141

-1 1 0

Oakanjo ...............................
St. Louts ................
...
Ksw Orissns................. ..

47.938.079
11.421.774
72,735,808
19.229.930
5,730,350

Sorsn miles. 5 days......
Other cities, 5 days....... -

$401,540,102
124.017.210

$725,373,768

Total all elttes, 5 days ..
All m oss. I day...................

$783,503,310
158,923,271

$847,771,392
193,257,903

-7 - 3
—17-8

~$S>44.436,589

SI.P4i.029.376

_ o -3

I'alladsiphla........................
KaiUmors............................

total all Cities for week

72.sto.soe

78.797.001

122,997,024

New T o r s ,..,
Philadelphia
Pittsburg......
Baltimore—
Buffalo...... .
Washington
Rochester...
Syracuse... .
S cra n ton ....
Wilmington...
Binghamton
Total Middle
B oston.............
Providence......
H a rtfo rd ..... ..
New Haven.
Springfield
Worcester.
Portland...
Fall River
Lowell ...
New Bedford,
Total New Roe.
Chicago.............
C incinnati........
D e tro it,. . . . . . . . .
Cleveland.. . . . . .
Milwaukee..
Columbus
Indianapolis
P e o ria ...... .
Grand Rapids
Lexington.
Kalamazoo.,

Akron.. . ... ......

Bay C ity .........
R o ck ford .... ...
Springfield, Ohio.
Canton.
Toledo*
Dayton*
Tot. Mid. W est’n*
San Francisco.
Salt Lake City
Portland — ...
Los A ngeles...
Helena...........
Tacoma.

Total Pacific
Per Vtnl

2131,933.392

NSW Y ork ....................
„
B dM b .................................

en d in g J u n e

6.

(M a r in e s a t —

T erm s o f S a O s c r lp t lo a — P a y a b le In A d v a n c e :
F jrO n e Year......................................................................... $10 00
For Six Months......................................................................
6 00
European Subscription finelading postage)........ ............ 12 00
European Subscription Six Months (Including postage).
7 00
annual Subscription in London (including postage)___£ 2 10s.
Six Mo*.
do.
do.
do.
— £ 1 10s.
B ms rsvxsTOW SOW.EXBST trill be furnished without extra charge
to every annuo! Bubscritier o f the Commercial, and F inancial
CaaoNicus.
The STATB AND CtTT 8 c p i -[.e x e 0 T will also be furnished without
extra charge to every subscriber o f the C h r o n ic le .
The Stick irr Rasi-w at StJWLKMBMT will StkewUs be furnished »»«*■
out extra chart]* to every subscriber of the C iironku.b.
The Quotation Snu-t.BMBxr. issued monthly. wlU also be furnished
without extra charge to every subscribe* o f the Chronicle ,
File covers are •odd at NO eeafs each : postage on the same Is 18
oeals File cover for supplements can be had at offloe for US cents or
mailed for 80 cent*.
T erm s o f

NO. 1,616.

—5‘0

-3 9

8'8
—10'5
-

8-8
+1-3

-

The full details of clearings for the week covered by the
above statement will be given next Saturday. We cannot,
of course, furnish them to-day, bank clearings being made
up bv the various clearing houses at noon on Saturday, and
hence in the above tiie last twenty-four hours of the week
have to be in ail cases estimated, as we go to press Friday night.
Our usual detailed tigurea for the previous week, covering
the returns for the period ending with Saturday noon, June
6, are given below, and we also present the results for the
corresponding week in 1893, 18 M and 1893. In comparison
with the preceding week there is a gam in the aggregate
exchanges of about thrpe hundred ana fifty-one million dol­
lars, hut at New York alone the increase is two hundred and
ten million-. Contrasted with the week o f 1895 the total for
thewhole country shows an excess of 4'9 per cent. Compared
with the week of 1891 the current returns record a gain of
33-0 per cent and the increase over 1893 is 5*9 per cent. Out­
side of New York the decrease from 1895 is 0'03 per cent.
The excess over 1894 reaches 22*5 per cent, and niakinp com­
parison with 1893 the gain is seen to be 5’8 per cent,

Kansas C ity,..
Minneapolis...
O m aha.....
St. P a u l....
D en v e r....
St. Joseph
Des Molnea
Sioux Citv
L in co ln ...
W ichita...
T opeka....,
F rem ont...
Hastings..,
Tot. other W est,
St. Louis.........
New Orleans..
L ouisville,....
Galveston.... ,
lousfcon........
Savannah........
R ichm ond...,
M e m p h i s ..............

A tla n ta ,....,...
Dallas......... ....
Nashville.. ..
Norfolk..........
F w t w o n b '.,
Augusta...........
Birmingham...
Little R o ck ....
.Jacksonville
Chattanooga..
Knoxville* ..
T otal Southern.
T otal all.
Outside N. York.

M ontreal,..,.
T oronto........
Halifax.........
Winnipeg.. .
Hamilton. ..
Total Canada.
* Not included m totals.

438,327,827
62.H49.04a
12,404.847
14,089,850
3,815,498
1.801,076
1.000.269
935,794
057,341
080.139
387,000

593,239,945
08.952.539
13,594,205
15.055,383
4.342,190

2.281,522
1.711,749
1,005,057

983,874

■mjijTO

THE CHRONICLE.

1060
THE

F IN A N C I A L

SITUATION.

As the time approaches for the holding of the two
political conventions, general business has become
quieter and a little more nervousness ba3 prevailed.
The growing uneasiness is an indication chiefly of the
increasing anxiety of the public concerning the cur­
rency portion of the platforms to be adopted at the
coming conventions. Wednesday there was a sharp
decline at the Stock Exchange, said to be aided in
some measure by a groundless rumor that Prtsident
Cleveland would send a message to Congress on the
Cuban situation. This false and foolish statement
would have had no influence whatever had not all the
conditions favored an easy disturbance of confidence
and values.
The fact is that the developments of the last two
•weeks (notwithstanding the action in Minnesota and
two Eastern States this week) have made the conclu­
sion almost, if not quite, irresistible that the silver
advocates are to have their own way at the Democratic
meeting in July. Very few who actually desire the
currency question settled, and settled correctly, would
object to that outcome were it not that an idea has at
the same time become current that the Republican
Convention was likely to make its platform less
clear and positive for gold than hitherto has been
anticipated. What is needed most of all at this ju n c­
ture is that the issue between the standards may be un­
ambiguously drawn, so that voters in November can act
and work for a principle. There is no fear of the re­
sult if the question in controversy can be sharply pre­
sented. The average American is neither an igno­
ramus nor a knave. What then has tended to unsettle
men’s minds this week has not been the declarations at
the Democratic conventions in the South and West, but
the new apprehension lest the Republican platform
should be substantially a “ straddle,” thereby conceal­
ing the engrossing financial question.- That would
make a mess of it indeed. But we do not believe there
is any reasonable ground for the fear. It would per­
haps be thought rash to assert that the Republican
party could not elect its nominee this year if such
should turn out to be its action. We have nothing to
say on that point. This at least can be affirmed, that
a platform capable of a double construction would
alienate the independent voters and likewise the large
portion of disaffected Democrats who would in no case
vote for free silver but would vote against it if they
had the opportunity.
There is a condition of public opinion that exists
widely among business classes which politicians may
not be sensible of and consequently in their calcula­
tions overlook. It cannot be too clearly understood
that very many among the most active and enterprising
men of the land have gotten into such a state as
to prefer a silver basis at once to the continuance
of the present uncertainty.
The large body of
firms and individuals engaged in industrial affairs
have been so crossed and thwarted in their plans, and
for so long, by the discredit and incertitude the cur­
rency has caused, that more and more of them are
getting to be indifferent as to which is to be preferred,
if the option is confined to the present currency con­
ditions continued or free silver ; and more still are
pretty sure to take the same view during the progress
of the canvass if it should so happen that neither party
offered its followers positive relief through sound

[V ol . L X II,

money. Currency straddles have been tried ad nauseam
and will satisfy nobody on this occasion.
If any are in doubt as to the feeling in Europe with
refererce to the monetary crisis here, and wish to know
the direction of the fl )w of foreign money to be antici­
pated in case political financial declarations are made in
such form as to have an uncertain meaning, they can read­
ily satisfy themselves. We are all the time receiving let­
ters from our European subscribers on the subject. One
of them which reached us last week says so much in so
short a space that we give it on a subsequent page. In
the same place we also reproduce the statement made
public this week of the views of Mr. J. Pierpont Morgan,
who arrived from London Wednesday. These are both
representative of current opinion expressed by peop'e who
know as well as any one can know when of they speak.
Says Mr. Morgan, with relation to the St. Louis pi ttform:
“ It should be f r sound moaey, with no compromise
and no straddle, but out and-out for gold. Eurooean
investors are watching the situation here closely. They
will not invest in American securities until they know
in what kind of money we propose to pay our debts.
A single gold standard is the only bas s for sound
money.” The form in which the letter represents the
situation may be gatheied from the following extract.
Mr. Workman says : “ There are millions of money on
this side looking for investment, and it is only the un­
certainty of how it may be repaid which prevents its
going to you.”
Some may ask, granting the foregoing to be true,
what are we to understand the statements to mean, pub­
lished this week, about London taking our bonds and
properties ? Did not Mr. J. Pierpont Morgan open
bids in London and New York on Monday for
$5,100,000 of the Milwaukee Electric R dlway &
Light Company 5 per cent gold bonds, and were they
not over-subscribed and largely taken in London ? Is it
not a fact, likewise, that the Rothschild Syndicate
has purchased this week about $7,000,000 more (270,000 shares) of the Anaconda mining stock ? The lat­
ter announcement simply means that, the syndicate has
just completed the operation long since begun of buy­
ing the stock of this company, an operation said to
have been entered upon so as to control the world’s
copper market. As to Mr. Morgan and the bonds
placed by him, it is sufficient to say that his credit was
equal to tte operation. The public has recently gained
some idea of the influential position he holds in
the financial circles of Europe, this knowledge
having come in
large measure through the
success he had in enlisting foreign
capital­
ists in our last two Government loans. Then, too,
it should be remembered that Mr. Morgan be­
lieves, and was so reported to have stated in London,
that the St. Louis platform would be for gold. But
the significant fact is that, notwithstanding these sales
of bonds and stocks a3 stated, there was a shipment of
gold from New York to Europe on Tuesday, another
shipment on Thursday, and yesterday $2,200,000 more
was withdrawn from the Treasury and banks for the same
purpose. This tells the whole truth most clearly as to
which way the net movement of capital is to-day— that
is to say it is not towards the United States ; it is not
slightly against us but it is heavily against us.
The announcement that the Pennsylvania Railroad
has given orders to retrench is not difficult to under­
stand. It is the natural and the inevitable outgrowth
the existing situation. At the same time in its b a hug
om the future it is easy t? make too much of the action.

THE 0HH0N1CLE. \

condition of winter wheat, bat even after the decline
the average stands nearly 7 points higher than on the
1st of June la3t year, the comparison being 77-9, against
71T. While in one important State, namely Ohio, the
condition is reported only 50, in most of the other
leading producing States there is a very great improve­
ment as compared with the poor condition of a year
ago—-Kansas for instance showing an average of 85
against only 39 in 1895, Illinois 87 against 52, etc.
But it is the spring-wheat prospect that challenges
particular attention. We have heard a great deal
lately of planting having been delayed oti account of
the rains. Bat the Bureau reports the acreage sowa to
spring wheat over a million acres larger than for last
year, and makes the condition almost perfect— tbit is
99-9, or better even than last year, when the harvest
proved of such phenomenal extent. We append a com ­
parison of the wheat figures for several years past.
A C R E A G E AN D CO N D IT IO N O P W H E A T

1806.
STATES.

|

0
i
Ohio.............................
Indiana......... .
I l li n o is ........ . . . . . . .
Missouri..................
Kansas...... ............ .
Michigan . . . . . . . . . . . .
California.................
Oregon............ ..
New Y o r k ..............
Pennsylvania. . . —
Tennessee....... .
M a ry la n d ... . . ------T exas-. - .......... .........
Other w in te r .....* ..

50"
70
87
SO
85
73
yg
08
71
70
81
80
68
so

1895.

1
i
1 1 1
1
&

-2,482 70
2.204 50
1,900 52:
1.418 -0
‘2,684 20
1.202 W
3.011 102
635 09
301 93
1.239 95
78> 83
463 99
016 90
387 50
3.346

2,422
14,206
1.733
1,542
‘2,977
1,154
3,181
593
403
1,232
655
459
090
305
1.002

ON JU N E 1 .

1894.

|Acreage.

X o large corporate undertaking responds more readily
to an improvement in the buainess situation than does
the Pennsylvania Ktilroad. This is true in a double
sense. In the first place the revenues of the road are
quick to reflect udj change for the better, and in the
second place the managers are quick to recognize
the change and what it portends and to make their
plans accordingly. Of course the reverse is also true,
that as the business outlook assumes au unfavorable
aspect, and trade declines, the Pennsylvania Railroad
soon feels the adverse effects in a contraction of its rev­
enues, and the managers are obliged to modify their
plans to meet the altered conditions. This is the state
of things at the present moment. The road’s revenues
in recent months have not come up to expectations,
owing to the pall which has been spreading over the busi­
ness world, and at the same time the prospects for the
immediate future are not altogether clear on account
of the contest which is going on in the political
world between the silver people and the adherents of
the existing gold standard. Of course at such a time
the managers would not be justified in continuing a
scale of expenditures which had been arranged on the
idea of growing prosperity and widening activity in
trade. Nor would the management be justified iu
making liberal ontlays on capital account, since this
involves burdens in the way of additional interest
charges wuich it would be unwise to assume at such a
juncture. Should the situation undergo sudden trans­
formation, as it well might, the Pennsylvania Railroad
will be the first to feel the current and to follow it.
It began to enlarge its outlays last year just as soon as
symptoms of an improvement in trade appeared, and it
will do the game with a recurrence of such symptoms.
Congress very quietly adjourned on Thursday, and
we are sore that all business interests will feel grate­
ful. It was the mo3t welcome act in its career. The
effect on trade ordinarily would be very beneficial, but
this year the political conventions, and their stand on
the currency situation, will control the trade outlook.
In another week we shall know the attitude of at least
one of the great parties. In the meantime our indus­
tries continue in the dull, inactive state in which they
must be expected to remain until the question of mone­
tary standards shall no longer be at issue.
The
“ Iron Age’' o f this city has this week published its
usual monthly statement of the pig iron furnaces in
blast, and of courso it shows a further reduction in both
number and output. There are now two less furnaces
in operation than there were a month ago, and the
weekly product has diminished from 189,398 tons to
182,820 tons. Since the 1st of last December 48
furnaces have gone out of blast, and since the 1st of
November the weekly capacity has been reduced over
35,000 tons. There has also been a further small in­
crease in the amount of stocks on hand, which for
Jane 1 are reported at 785,943 tons, against 5.25,617
tons on January 1. Should business revive as the re­
sult of wise action on the part of the conventions of
the two parties, it would not take long to get rid of
these stocks and to start the iron industry on a new
•career of prosperity.
It is pleasing to think that Nature at least is doing
all it can, by the promise of bountiful harvests, to en­
sure a period of good trade. The Agricultural Bureau
at Washington has this week issued its report on the
condition of the crops the 1st of June, and it is a highly
encouraging document. It appears that there was a
decline during the late month of a few points in the

1061

Acreage.

J une 13, 1896.]

98
93
84
S2
57
59
00
97
98
95
75
00
81
89

1893.

1892.

1

j

1

l

2,550 90
12,372 81
1,830 07
1,536 74
3,399 47
1,281 72
2.688 72
590 102
425 87
1,237 92
728 90
47S 06
90
456 89
4,092

2,084
2,523
1.348
1.009
2,768
1.509
2,620
637
472
1,311
803
493
175
4 32
3,062

1

84
87
86
75
87
88
98
98
97
89
93
93
93

2,796
2,713
1,751
1.9S7
4.071
1,023
3,012
023
519
1,324
899
530
799
445
3,149

T ot . -wintfr w h e a t 77*0 227*94 71*1 ‘23,520 832 •M.403 75*5:23.087 ;8 ’3 aB.241
T ot . spring w h e a t 99*0 11,826 07-8 1 0.621 88-0 10,477 ST4 l li j g j l 92*3 12,313
T o t a l................... 87*al3»,#I8 78*0‘3 4.047 84’7 34,882 & 8 3 1.626 39*6 38,654
Per cent of inc. or
-2-4
•fO‘7
-10’2
-3*4
dee. In acreage...,

M

O r" Xtiree ciphers {.OOOi omitted from acreage figures

It only remains to add that the other leading crops
give promise of equally favorably results. The con­
dition of cotton is put at 97'2 against 81'0 last year, of
oats 98*8 against 84*3, of rye 85‘2 against 85'7, and of
barley 98*0 against 90*3, as will appear by the fol­
lowing:
1896.
winter wheat........ .77-9
Spring wheat ......9 9 '9
Oats..........................98'S
Rye........................... 85*2
Barley.................... 98*0
Cotton.......... ...........97*2

1895. 1891.
71*1
83-2
97'3
83-0
81*3
87-0
85’7
93-2
90-3
82-3
81*0
88'3

1893.
75-5
80'1
88-9
81-6
88-3
85-6

1892. 1891. 1890.
8S-3
90'6
78*1
92'3
92’6
91-3
99-1
85 1
89-8
91-0
95-1
92-3
92-1 90-3
86-4
85*9
88'7
88*8

The Illinois Central statement of earnings for April
has been issued this week, showing $67,533 increase in
gross and $43,550 decrease in net, as compared with
last year. For the eleven months to April 30th, the
company is $1,976,290 ahead in gross and -$1,224,778
ahead in net. We present below a comparison of the
gross and net earnings of a number of roads which have
this week made reports for April.
N aim o f Road—
Balt. & Ohio South western. Cross

1890.
-?

490.293
182,755
205,408
@8,092
124,897
25,008
57.134
0,391

Net
Bur). Cod. flap. & N orth.... .Gross
Net
Chicago & W est Michigan, .Gross
Net
Gin. .Tackson & M ack.. . ... .
Net
Detroit Lans. & Northern.. .Gross
ffi!,8S5
Net
17,077
Ga, Southern & F la ............ •Gross
05,280
241
Net
Illinois Central.................
1,5*28.017
Net
383.383
Louis. N. Alb. & C hic,*.,... .Gross
279,130
Net
102,549
Mexican National................
388,375
Net
169,900
Net

SS&

---------A pril ,Earnings <**•■*

1895.

1894.

8

*

503,205
176.489
274.723
73,899
147,053
33.559
45,304

400,200
161,075
- 272,627
71,829
128,19022,894

97,992
23,133
03,022
13.529
1,460,484
420,033
264,000
88,895
367,988
103,640

87,009
15,574
03,107
0,979
3,347,425
273,348
230,358
75,629
361.789
150,150
56,309
30,039

4,3 m

m

7'

1393. r
$

■

520,302
160,765172,785
49,04 A
60,153
0.471
1C0,077
20,061
57.003
2,712
1,542,908
383,711
200,791
98,512
363,811
128,415

THE CHRONICLE.

1062

Sam e o f Rood—
Minneapolis & St. Louis...

Net
Oregon Improvement Co.. .G ro ss
Net
Philadelphia & Erie...........
Net.

1890.
♦
13H.040
35.&80
281,501
27,805
345,727
ISa.,024

— A p ril E a rn iw js.-------1894.
1805.
$
*
125.141
143.668
33,421
45,708
326.544
251.776
77,082
27.854
272,686
313.723
78,082
100,717

1893.
i
180.F02
40.706
333,704
66.137
439,497
180,038

[VOL. LXII.

Tne foreign exchange market has been dull, gradu­
ally growing firmer toward the end of the week, with
no evidence of the offering of security bills, a very
light supply of commercial drafts, and only moderate
amounts of gold bills— the exports being $100,000 to
Germany by L. von Hoffmann & Co. on Tuesday and
$100,000 on Thursday. The demand has been the
ordinary current inquiry for remittance. With the
exception of a reduction by the Canadian Bank of
Commerce on Tuesday and an advance by Brown Bros,
yesterday, there was no change in nominal rates during
the week and no alteration in those for actual busi­
ness until Thursday, when there was an advance of one
quarter of a cent compared with the close on Friday of
last week to 4 874@4 87£ for sixty day, 4 88£@4 88£
for sight, and 4 88£@4 89 for cable transfers. The
tone, as said above, gradually grew firmer. On Tues­
day it was a shade stronger, on the following day the
business was nearer the asking than the bid rate, and
on Thureday the upward movement in quotations was
made. Yesterday the market was dull and steady and
$2,000,000 gold was withdrawn from the Sub-Treasury
and $200,000 from the Fourth National Bank for ship­
ment to Europe to day, making the shipments for the
week $2,400,000. The following table shows the daily
posted rates for exchange by the leading drawers.

Money on call, representing bankers’ b alances, has
loaned during the week generally at 1£ per cent, with
some transactions at 2 per cent and the average has
been about I f per cent. Banks and trust companies
quote 2 per cent as the minimum. Scarcely anything
is doing in time contracts. The supply is liberal and
rates are 2£ per cent for thirty to sixty days, 3 per cent
for ninety days to four months, 3| per cent for five to
six and 4@4| per cent for seven to eight months on good
marketable stock collateral. While there is no par­
ticular pressure of commercial paper on the market the
offerings of the best names show some increase, but at
the same time the demand is not general.
The larger
city banks are out of the market as buyers, but trust
companies, other institutions and out-of-town pur­
chasers are almost daily making selections, and a fair
amount of business is done. Bates are 4@4£ per cent
for sixty to ninety day endorsed bills receivable, 4£@
4 f for four months’ commission house and first-class
single names, 4£@5 for prime and 5|@6 for good four
to six months’ single names. The Treasury Depart­
ment on Monday called upon the specially-designated
D A i r . r P O ST E D R A T E S F O R F O R E IG N E X C H A N G E .
depositary banks for the remainder, about $4,500,000,
Mo n ., T o e s ., W e d ., T h u r .,
F r i .,
F r i ..
of the money deposited with them on bond account,
J u n e 5. JuneS. J u n e 9. June 10. J u n e 11. June 12.
88
60 days.
88
88
88
89
88*
requiring it to be turned over by the 15th. The Brown Bros........ 5( Sigh
89
so
89
89
89*
89
t....
8S «
88*
88*
88*
83*
B irin ".
5 60 days.
amount paid up to Friday afternoon was $500,000.
884
89*
89*
89*
Magoun & Co.. \ Sight....
S9H
89*
894
88*
88*
There have been no features of special interest in Bank British S60 days. 8 8 *
88*
*-8«
884
sa*
89*
89*
89 sfc
No. Am erica.. * Sight....
894
SVH
the European financial situation this week. On Bank of
88*
88*
5 60 days.
88*
884
88*
884
89*
89*
89*
Montreal......... 1 Sight....
894
894
Thursday Kaffirs in the London market were strong on Canadian Bank $60 days. 8 8 *
88
88^
88
88
88
89*
89
89
89
89*
89
of Commerce.. i Sight.—
the announcement that the leaders of the raid upon Heidelbacti, Ick- ) CO days. 8 3 *
88*
88*
83*
88*
88*
89*
89*
89*
Sight....
89«
894
894
Johannesburg had been released upon the payment of eiheimer & Co. t|60
83*
88*
88*
88*
£8*
88*
days.
Hazard Freres... 1 Sight....
89*
89*
89*
89«
894
894
a fine of £25,000 each. The Bank of England mini­ Merchants’ Bk. f 60 days. * 8 *
88*
88*
88*
88*
88*
89*
89*
894
e9*
894
mum rate of discount remains unchanged at 2 per of Canada........ 1 Sight— 8 »*
The market closed steady on Friday at 4 88@4 88^
cent. The cable reports discounts of sixty to ninetyday bank bills in London £ of 1 per cent. The open for sixty-day and 4 89@4 89|-for sight, and rates for
market rate at Paris is I f per cent and at Berlin and actual business were 4 87|@4 87£ for l o D g , 4 88-|@4 88£
Frankfort it is 2J per cent. According to our special for short and 4 88£@4 89 for cable transfers. Prime
cable from London the Bank of England gained £508,- commercial bills were 4 87@4 87£ and documentary
007 bullion during the week and held at the close of 4 86£@4 87.
Tne following table iadieites the amount of bullion
the week £48,343,558. Our correspondent further
advises us that the gain was due to receipts from the in the principal European banks this week and at the
interior of Great Britain in the net amount of £273,- corresponding date last year.
000, and to imports aggregating £235,000, of which
Jun e 11> 1896.
J u n e 13, 1895.
B ank o f
£165,000 was from Australia, £62,000 was bought in
Silver.
Total.
Silver.
Bold.
am .
Total.
the open market and £8,000 was from Portugal.
£
£
£
£
£
£
48,313,558 37,397,723
37,397,72S
The $5,100,000 Milwaukee Electric Railway & England......... 48,343,558
79,979.496
130.186,234
50.206,738
81,804,000 50,097,000 131,901,000
France............
Light Company’s 5 cent gold bonds, which were of­ Germany* ... 30,812.667 15,106,333 46,219,000 37,219,592 10,620.408 53,840,000
Anst.-H ung’y 27,331,009 12,831,000 40,162,000 19,226.000 13,509,000 32,735,000
fered in New York and in London on Monday by J. P. Spain............... 8,406,000 10,850,000 19,256,900 8,004,000 12,460,000 20,404,000
Morgan & Co., were chiefly subscribed for in London. Netherlands. 2,635,000 6,997.000 9,633,000 4,294,000 7,048,000 11,342,000
4,379,000
2,751.000 1,377,000
4,131,000
Nat.Belgium*
2,919,333 1,459,607
This week it was likewise announced that 270,000
Tot.thls week 209,261,721 97,668.071 297,929,792 190,804.653 101194075 292,058,728
shares of the Anaconda Company’s stock, the holdings Tot.prev. w’ k 199,977,652 97,775,034 297.752,686 19 >,534,310 101079530 291,613,876
of the Hearst estate, have been purchased by the * The division (between gold and silver) given in our table o l coin
and bullion in tlie Bank o f Germany and the Bank o f Belgium is made
Rothschild Exploration Oompany-Oassel syndicate for from the best estimate we are able to obtain ; in neither ease Is it
about $7,000,000. Messrs. Kuhn, Loeb & Co., who claim ed to be aoourate, as those banks make no distinction in their
weekly returns, m erely reporting the total gold and silver, but we
were parties to the negotiation, say that part of this beiieve
the division we make is a d o s e approxim ation.
sum has alnady been drawn against, and that the re
N o t e .— We receive the foregoing results w eekly by oable, and while
maiuder of the bills will come upon the market gradu­ not all o f the date given at the head o f the colum n, they are the re­
turns issued nearest to that date—that is, the latest reported figures.
ally. The bilh drawn against these and previouslyTue following statement give3 the week’s movements
reported negotiations of securities placed abroad within
of money to and from the interior by the N. Y. banks.
the past few weeks have made little impression upon
Received by Shipped by Set Interior
the exchange market, but they have served to meet
Week Ending June 12,1896.
N. Y. Banks. N. Y. Banks.
Movement.
urgent requirements, partly for covering short contracts
$5,487,000 $1,571,000 Galn.$3,916,000
in exchange. Had it not been for these bills gold ex­ Gold ..................................................
399,000
344,000 Gain.
55,000
ports would have been much larger.
'lotal gold and legal tenders.... $5,886X30 $1,916,000 Galn.$3,9 71,000

J une 13, 1890. j

THE CHRONICLE.

L063

With the Sub-Trea3ury operations and gold exports the vagaries of the day, and either initiated or carried
the resalt is as follows.
into effect measures for which a later and more just
generation of historians is giving him due credit. The
In to
Out o f
| N et Change in
W eek Ending J un e 1 2 ,1S96.
Treasury was saved from bankruptcy, though only
Bank*.
Bank*,
j Bank Holdings.
Banka' interior movement,as above *5.800.000 $1,915,000 Galn.$3,971,000 through
a heavy increase in the public debt.
8nb-Treaa.oper.and gold exporta .. 14.500,000 15,800,000 Loss. 1,300,000
During more than half of this Administration there
Total gold and legal tenders...... f2 0 .386.000 $17,715,000 Gain. 2,671,000
was a deficit in revenue, and a surplus was at last at­
tained, though only through heavy reduction in ex­
penditures. This was no policy to catch the public in
FINANCIAL DISTURBANCES AND
a political campaign, and Van Buren suffered, as
POLITICAL HISTORY .
others in his place have done, for the hard times
We have before this made reference to the fact that which followed the collapse. At the opening of 1840
the existing political confusion, with signs of party Henry Olay declared, in language familiar to news­
demoralization in some quarters and of party bewilder­ paper readers of the present year, that tcany Whig
ment in others, is nothing new in history. It is com­ could carry the Presidential election.”
General Harrison was nominated against there-nom­
mon enough te hear the present situation discussed as
if absolutely novel phenomena had appeared in the inated Van Buren. His party presented no platform
Presidential canvass ; so novel as to suggest a perman­ whatever, his own declaration of principles was vague,
ent national disorder in the spread of which results are and on essential points ambiguous. He carried 19
impossible to predict. The matter of difference, the States out of the 26, with a popular majority of 145,900.
currency standard, has taken on a broader character With such an endorsement the Whig party believed
and involves larger interests than ever before. But so itself to -have the future in its hands. It neglected
far as the leading features of the disorder are wise and conservative councils, quarreled with experi­
concerned, we are merely repeating, step by step, with enced public leaders and threw confusion over plans
rather singular exactness, experiences which have for financial reconstruction. There was a stubborn
developed in our politics during each successive fight over-a higher tariff to which the successful
party professed itself as pledged, and as a consequence
generation.
As an incident in political history, popular unrest, hard times, Treasury deficit, and increase in the Fed­
with the chase after wild financial nostrums, is famil­ eral debt, continued through the entire administration.
iar.
Its governing principle is simple enough. Vary­ The result was the party which had elected Harrison
ing causes will result, at more or less separated periods, four years before by a majority of 145,900 was de­
first in reaction, next in panic, and then in trade stag­ feated under Henry Clay in 1844 by an adverse major­
nation, diminished profits, slack employment and ity of 38,792.
The overshadowing importance of the slavery ques­
falling prices. But to the average citizen, perplexed
tion
at the time makes it quite impossible to say how
and embarrassed personally by the period of hard times,
the theory of reaction is not satisfying. Ilis first and large a share the panic of 1857 had in the eventual
invariable impulse is to throw his vote against the legis overthrow of this successful party. It was not until
lators and administration under whom this period of the panic of 1873 that the political influence of hard
distress came to a crisis. His next impulse is to give times was once more defined with entire distinctness.
support to anybody who will promise quick relief by a We referred last week to some of the phenomena of the
change in legislation, and this is the demagogue’s op­ ensuing Presidential canvass, but the matter is worth
portunity. Once or twice it has happened that this some further notice. The Republican party was in
blind search for relief has been wisely used to sustain power during the panic of 1873 a3 the Democratic
a real and necessary public reform. Such was its per­ party was in those of 1837 and 1893. Very similiar
manent result in England, when the Corn Lews were political symptoms followed, the administration party
repealed in 18-18 as a result of political outcry follow­ being then, as usual on such occasions, the mark for
The Republicans had swept
ing harvest failure. Such was its temporary result popular denunciation.
when our S Iver purchase Law was repealed in 1893. the country in 1872, much as the Democrats did
But it is much more frequently the case that designing twenty years later. Its candidates had carried 31
demagogues, who have more at stake and who will con­ States out of 37, and polled the enormous popular
sequently promise more, get the ear of the ignorant majority of 762,991. But the usual shifting of majori­
ties followed the panic of 1873. In that year’s fall
portion of the electorate.
Our national experience in such a revolt against the elections, seven Northern states which had gone Re­
party in power during a period of hard times had an publican in 1872 cast Democratic majorities; in 1874
tarly forcible illustration sixty years ago. In 1836, at the popular movement against the party in control was
the close of General Jackson’s second administration, as marked as in our own recent election of 1894; such
and with the Democratic party at the flood tide of states as Massachusetts, Pennsylvania and New Hamp­
In the
popular favor, Mr. Van Buren carried 14 States out of shire swung into the opposition column.
the 26, and was chosen President by a popular major­ Presidential vote of 1876 the Republicans won only by
ity of 25,876. Van Buren, like Cleveland, was par­ a closely contested count of States, and in the face of
ticularly unfortunate in having to face, at the very an adverse popular mnjority of 157,394.
The sequel of this episode wa3 most interesting. The
outset of his term, the consequences of financial and
legislative recklessness for which he was in no degree party brought into control of the administration by
responsible. The panic of 1837 began in May, like the the election following a panic period has a peculiar
panic of 1893.
The measures taken by the Van opportunity. If it follows unswervingly the road of
Buren Administration to pilot the Government through sound financial reconstruction, it will gain from the
this financial maelstrom were admirable. Left, appar­ later approbation of the voters exactly what was lost
ently for the time, almost without an influential friend by the administration during the period of collapse.
in p Ihies, M . Van Buren set his f ice firmly against If it neglrc's such opportunities arid devotes its en«r-

THE CHRONICLE.

1064

gies to new and questionable experiments, it will be
doubly punished by the disappointed people at the next
election. Both of these principles are conclusively
demonstrated in the history which we have reviewed.
After 1840, as we have seen already, the successful
party threw away its opportunities and devoted all its
energies to strictly party measures. The people’s re­
sponse to this neglect was the restoration of the party
overwhelmed in 1840 to control of the Government for
the greater part of the following generation.
The
statesmen of the party which won the presidency
in 1876 were wiser.
Tariff and party issues were
left immediately to a minor place; the energies
of the Administration were devoted to sound and
thorough financial reconstruction. Specie resumption,
carried through in 1879 by Mr. Sherman against the
ill-concealed opposition of a good share of his own
party’s leaders, brought about the most memorable re­
covery in trade and industry in the records of our
time. "With the total overthrow of the Whig party in
1844 may profitably be contrasted the handsome vic­
tory in 1880 of the party which had met courageously
the financial duties of the hour.
It is our belief that politicians, as well as men of ex­
perience in private business, have recollection enough
of these events and knowledge enough of the prin­
ciples written so plainly on them, to save this country
from the dangers which many people believe to be im­
pending. No lesson has been taught more repeat­
edly and more unmistakably in the history of
our government, and of all other governments,
than the lesson that the party and the public
men who hold firm to sound financial principles,
and insist on their incorporation into law, will
in the long run win the approval of the voters.
Debasement of the currency has been at times the
seemingly most available of all appeals to an unreason­
ing constituency,t from the days of the French Revolu­
tion’s fiat money and the British bank currency infla­
tion to those of the Argentine Republic agitators and
our own free-coinage politicians. But history is quite
unvarying in its testimony that the parties and states­
men who have adopted such method of appeal to popu­
lar ignorance and prejudice have gone down, later on,
in overwhelming political ruin and contempt. Modern
history provides no exception to this rule, but it is full
of chapters of success and permanent popular endorse­
ment won by statesmen who have faced the inflation
clamor boldly and have stood throughout for the prin­
ciples of sound finance.

D E C L IN E I N T R A N S P O R T ;! T IO N R A TES OA
TH E P A C IF IC COAST.
In the annual report of the Southern Pacific Com­
pany, issued this week, there is one table that deserves
to be closely studied. We mean not merely by those
holding pecuniary interests in the property but by the
whole public on the Pacific Coast, and by all those who
make a study of the great transportation problems of
the day, cpposing views regarding which so frequently
divide the owners and the users of the roads into hos­
tile camps.
The table which we refer to is one prepared by Mr.
William Mahl, the Comptroller, to accompany the re­
marks of President Huntington. It is in the shape of a
series of diagrams, being presented in that form for the
purpose of revealing at a glance the extent of the changes

[V o l . L X II.

which have occurred during the period covered by the
statement. In this latter objectit iscertainlysuccessful,
for it brings out these changes in a most striking and
graphic way. We reproduce the figures below, omitting
the diagram portion of the statement. Tne results do
not comprehend the entire Southern Pacific cornbination, but simply what is called the Pacific
System, comprising the lines west of El Paso and
Ogden.
Year.

Miles of
Road
Operated.

Yet Earnings
Per Mile
o f Road,

Receipts
Per Ton
Per Mile.

18 72...........
18 73..........
1874..........
1875..........
1876...........
1877..........
18 78..........
1879..........
1 8 3 0 ..........
1 8 3 1 ..........
1882..........
1883...........
1884...........
1885...........
18 86..........
1887..........
1888........... .
1889..........
18 90..........
1891........... .
1892........... .
1893........... .
1894........... .
18 95.......... .

1,158-00
1,220-00
1,216-00
1,298-00
1,425-00
1,783-00
2,119*00
2,319-00
2,467-00
2,707-00
3,041-00
2,998-00
2,957-00
2.802-45
2,828-87
3,815-14
4,071-25
4,278-20
4 ,3 1 1 1 0
4,625-17
4,736-21
4,833-22
4,869-78
4,884-26

$5,763 97
6,312 80
6,676 31
6,992 20
6,390 59
4,690 03
4,317 82
3,893 86
4,607 19
5,058 04
4,350 36
4,302 53
3,316 89
3,822 57
3,671 50
3,249 55
3,050 83
2,876 18
2,987 98
3,286 64
2,921 79
2,834 64
2,308 27
2,296 62

3-657 Cents
3-675 «
3-257 “
3-327 “
3-229 “
3-186 “
3-186 “
2-739 “
2-676 “
2-503 «
2-063 “
2-161 “
2-239 “
2-044 “
1-562 “
1-722 “
1-931 “
1-988 “
1-845 “
1-835 “
1-815 “
1-571 “
1-316 “
1-260 “

Ton MilesPer Mile
of Road.
164,522
166,423
199,138
209,694
217,915
171,443
159,988
172,090
200.636
233,785
259,841
230,423
196,986
209,487
293,154
249,925
251,696
221,422
253,530
253,412
235,672
260,965
274,664
306,958

"We have here revealed to us the entire history of
transportation interests in the Pacific States during
the last quarter of a century. Note the changes in the
second column, the miles of road operated— the
increase from 1,158 miles in 1872 to 4,884 miles in
1895. This increase represents the development and
extension of transportation facilities on the Pacific
Coast, and a wonderful development it has been. At
the earlier date the system simply comprised the Cen­
tral Pacific lines west of Ogden ; now it embraces these
lines, together with the net-work of roads added in
California, and the new trans-Continental route built
across Arizona and New Mexico into Texas. In the
twenty-three years the mileage ha3 been more than
quadrupled. If we should include the lines embraced
in the “ Atlantic system ” (covering the road east of El
Paso), which form part of the through route created
to provide an outlet at the Gulf of Mexico (Galveston,
New Orleans, etc.) for the products of California, we
should find that the mileage had increased six fold ,
for without counting the San Antonio & Aransas
Pass the Southern Pacific system operates 7,347
miles.
In this extension of the system we see what the pro­
moters of the enterprise have done to further the in­
terests of the communities they have undertaken to
serve. In the third column, giving earniQgs over
operating expenses per mile of road—in other words
the net earnings after deducting expenses— we are made
acquainted with the fiscal results attending the opera­
tion of the enlarged mileage. The figures show that
whereas in 1872 the net earnings amounted to $5,764
per mile of road, in 1895 they were but $2,297 per mile.
In the first few years after 1872 the amount steadily
increased, and in 1875 was nearly seven thousand
dollars per mile— $6,992 ; but in the twenty years since
then the decline has been very large, and at $2,297 for
1895 the amount is less than one-third what it was in
1875. If we did not have the figures in the subse­
quent columns in disproof of the supposition, it might
be argued that much of the mileage added had yielded

J o e 13, 1896.]

THE CHRONICLE.

only a very thia traffic, and that the decline in net rev­
enues followed as a natural result of this. But as a
matter of fact the last column in the statement shows
that with the extension of the system the company has
been able not only to maintain what may propsrly be
termed the traffic density, namely the ton miles per
mile of road, but actually to increase it, so that the
amount wa3 306,958 ton miles in 1895, against only
164,522 ton miles in 1$72.
The explanation of the decreased net earnings in
face of the increasing traffic is found in the figures in
the fourth column, that is, in the decline in the re­
ceipts per ton per mile from an average of 3 ’657 cents
in 1872 to an average of but 1*260 cants in 1895, a
falling off of nearly two-thirds. Of course there has
been another cause, and Mr. Huntington makes refer­
ence to it in commenting on the figures. As he well
-ays, while rates have steadily declined the expenses
attending the movement of the increased business,
together with increases in wages, improvements in carg,
locomotives, and all other appliances for the
prompt and sa'e movement of passengers and freight,
have steadily augmented the cost of operation, the two
together bringing about the great contraction in net
revenues noted.
In brief, then, it appears that in extent of road
operated and density of traffic the results for the latest
year excel all previous years, but that in the average
rate realized and the net earnings per mile the results
are the smallest on record. Tae fact that the traffic
has increased not only absolutely but per mile of road
is proof that the policy pursued by the management in
seeking the development of the territory has been to
that extent a successful one. Mr. Huntington notes
that the experience of the Southern Pacific has been
different from that of tha roads in the more thickly
settled States, where the tonnage increased sufficiently
to equal at least, in earnings, the loss from the decrease
in rates. This is an important difference and it should
not be overlooked. Ii is also important to remember
that though the Southern Pacific has succeeded in so
greatly extending its traffic, yet the volume of this
traffic is even after the increase proportionately very
much lighter than that of the roads in other parts of
the country.
The difference has a bearing in aoy consideration of
the question of rates. We all know that the larger the
volume of traffic the smaller the average cost per unit of
doing the work and the lower the figure at which the
business can be profitably moved. The difference in the
character of the traffic must also be taken into ac­
count.
In the sections where traffic is so much
denser than on the Pacific Coast, it will be found, as a
rule, that there are large manufacturing industries
which consume a great deal of coal and require in the
course of their daily business a mass of other bulky
materials which can be, and are, very inexpensively han­
dled; furthermore, that in many cases large mining in­
dustries exist. In California, on the other hand, the
mineral product outside of the precious metals is in­
significant, and manufacturing occupies a much
smaller place in the activities of the population than
in the East. Moreover, while the cheaper and bulky
freights are thus to an extent lacking, the Southern
Pacific, as is well known, has a considerable tonnage
in perishable freights (fruits, vegetables, &c.,) which
require special facilities and extra care in handling,
making the expense of the service correspondingly
heavier. The high price of coal (resulting from the

1065

absence of available coal deposits) is likewise a draw; back with the Pacific roads.
These reflections are suggested by the fact that there
has always been more or less opposition to the South 1ern Pacific on the Pacific coast, and that its policy has
been sharply criticised in the past. In view of the
nature of the traffic, it can not be maintained that
average rates are high, and we have in the
figures given above evidence that the average has
been steadily reduced ; it deserves particular notice
that during the last three years the fall has been espec­
ially rapid, the average per ton per mile in this interval
having declined from 1*815 cents to 1*260, or over 30
per cent. As bearing upon this question of rates, a
comparison between these results and some figures
drawn from the Statistical Report of the Inter-State
Commerce Commission is quite interesting. The latest
complete report of the Commission is for the year end­
ing June 30 1894. It appears that in that year the
average rate received on the roads in group X , com­
prising the Pacific Coast States, was 1*343 cents per ton
per mile; for the Pacific system of the Southern Pacific
the rate vfas 1*316 cents per ton mile in the calendar
year 1894 and 1*260 cents in the calendar year 1895,
showing a lower rate for these lines than for the group
of which they form part.
Still more instructive is the comparison with group
I, comprising the New England States. For that group
the average for the year ending June 30 1894 was
1*243 cents, as against the rate of 1*316 for the Pacific
system lines for 1894 and 1*260 cents for 1895. In
this case, it will be observed, the Southern Pacific rate
is a little higher. But on the other hand the volume
of traffic on the Xew England roads is proportionately
very much heavier than that of the Southern Pacific,
amounting for the year given to 409,785 ton miles per
mile of road, against only 274,665 on the Pacific sys­
tem lines. In a word, though the volume of the traffic
of the New England roads is from one-half to one-third
larger than that of the Southern Pacific, their freight
rates are only a trifle lower. Based on these com­
parisons, Mr. Huntington reaches the conclusion that
the rates received by the roads in group X, including
the Pacific system of the Southern Pacific, are much
too low in proportion to the amount of business for
them, and the much higher prices which they have to
pay for fuel, wages, and all material entering into their
operations. Obviously this proposition can not be
successfully controverted.
Mr. Huntington notes that an advance in rates of
a fraction of a cent is comparatively of little conse­
quence to each porson using the roads, but when mul­
tiplied by the large tonnage and travel over the roads it
represents on the one hand properties well maintained
and giving excellent service to the public, with a fair
return upon the capital expended to create the proper­
ties, and on the other hand a resort to the courts for
relief, such as has often been the case, and particularly
since 1893, by a considerable part of the railroad prop­
erties of the country.
There is another point to consider. The Southern
Pacific would not have been able to move traffic at
such steadily declining rates except for the pol­
icy pursued of spending each year considerable
amounts out of earnings for improvements and better­
ments, thus increasing the efficiency of the property
without adding to the burden of charges. To our
knowledge the Southern Pacific Company has never
pail any dividend on its stock. Such surplus as it has

THE CHRONICLE,

1066

had from year to year has been devoted very largely
to improving the condition of the property, and in the
aggregate these expenditures have reached quite a
large sum. The company was organized in 1884,
and the following shows the surplus above fixed
charges and the disposition made of it for each year
since then and also the totals for the whole eleven
years.

Year.

Surplus after
Payment of all
Fixed Charges.

1895............ . . . . $2,976,033 57
2,139,184 67
18 94............ . . . .
1893............ . . . . 2,750,462 82
1892............ . . . .
3,263,161 89
3,963,066 40
1891............ . . . .
2,641,303 09
1890............ . . . .
1,205,994 04
1889............ . . . .
1,638,354 43
1888............ . . . .
1887............ . . . .
1,655,174 89
870,517 06
18 86............
1885............ . . . . 2,140,069 65
T o t a l... ___$25,243,622 51

Expenditures for
Betterments
and Additions.
$1,777,047 49
925,222 01
1,206,931 70
2,246,094 32
1,868,263 67
1,354,864 06
1,675,878 19
2,202,828 58
978,014 31
403,560 78
444,204 62
$15,082,909 73

Balance.
$1,198,986
1,213,962
1,543,531
1,017,367
2,094,802
1,286,439
clef. 469,884
def. 564,474
677,160
466,956
1,695,865

08
66
12
57
73
03
15
15
58
28
03

|V ol, LXIT.

mutuality of interest between the public and the rail­
roads, and a higher sense of justice, has been reached
in most of the States, and it i3 reasonable to assume
that a similar state of the public mind will soon obtain
in the few States in which attacks ara still being made
agaiust corporate property, and m ire particularly
railroads.”
We have confined ourselves entirely in these re­
marks to this question of rates. It is proper to say
that the company’s report has been issued in the usual
comprehensive form, giving full statements as regards
all the different companies and all the details of opera­
tions. In addition to the other numerous tables, two
new tables have been added, one a consolidated profit
and loss statement, in which the accounts of the pro­
prietary companies are combined with the Southern
Pacific, and the other a consolidated balance sheet
prepared in the same way.

$10,160,712 78

It will be seen from the foregoing that the aggregate
surplus for the eleven years has reached nearly 251million dollars, and that of this over 15 million dollars
is reported as having been spent for betterments and
additions. In other words this much of the surplus
has gone directly back into the property. It is safe to
say that the 10 millions remainder has also gone into
the property, or else has been tfsed to meet deficiencies
in the operation of leased roads arising from poor busi­
ness or insufficient rates. For instance, in the late
year, out of the $1,198,986 balance remaining, $790,811
went to meet the deficiency for that year in the opera­
tion of the Oregon & California, such advances being
re-payable out of the surplus of future years.
It will be observed, too, that the yearly expenditures
for betterments,[&c., vary quite closely with the yearly
surplus, increasing when the surplus increases and de­
creasing when the surplus diminishes. In 1894, with
a surplus of $2,139,184, the betterment outlays were
$925,222 ; in 1895, with an increase in the surplus for
the twelve months to $2,976,033, the betterment out­
lays were increased to $1,777,047.
If the $15,082,909 spent for betterments during the
last eleven years had been provided by the raising of
sew capital instead of being paid for out of surplus earn­
ings, it is easy to see that the company would now have
a very much larger amount of charges to meet— at 5
per cent the increase would be over three quarters of
a million dollars per annum. It is highly important,
therefore, that tne company bs allowed to charge rates
that will yield a profit above the ordinary operating ex­
penses and fixed charges in order that this policy of
improving the property so as to cheapen the cost of the
service and increase the road’s efficiency may be con­
tinued. The Pacific States owe much to the Southern
Pacific system, and they cannot afford to encourage
anything that will tend to cripple it.
Mr. Huntington is inclined to take a very hopeful
view in this regard. It is iais opinion that the unsat­
isfactory condition into which the railroads of the
country have been forced by the various means em­
ployed for effecting reductions in rates is now being
recognized by the public. “ The feeling, almost an
epidemic, passing from State to State, under whose
influence people have fixed, or endeavored to fix, the
rates of fares and freights which they should them­
selves pay for the service given, and the benefits de­
rived by those who use the railroads, without regard
to the rights o f those who create or own the proper­
ties, is disappearing. A better appreciation of the

W H A T T H E M O N E T A R Y U N C E R T A IN T Y IS
COSTING.
We give publicity to the following letter because it
is a type of a great many others which we are all the
time receiving from Europe, and because it expresses
in a terse way the feeling entertained among investors
on the other side in the matter of the uncertainty re­
garding our standard of values. Those who fail to
appreciate what a prolongation of the present situa­
tion means to the country should ponder the statement
of our correspondent that “ money in America is
costing from 1 to 2 per cent more than it ought to,’
simply because of this uncertainty.
Belfast , May 16, 1896.
T o th e E d i t o r o f th e C o m m e r c ia l a n d F in a n c ia l C h r o n ic le :
Dear Sir —I am glad to see that you still keep pegging
away in favor of sound money.
T h e p e o p le o f th e U n it e d S ta te s se e m to h a v e n o c o n c e p t io n
o f th e t r e m e n d o u s c o s t , to t h e m , o f th is u n c e r t a in t y o n t h e
m o n e y q u e s tio n .
T h ere are m illio n s o f m o n e y o n th is s id e l o o k in g f o r in v e s t ­
m e n t, a n d it is o n l y th e u n c e r t a in t y o f h o w it m a y be r e p a id
w h ic h p re v e n ts it g o in g t o y o u .
M o n e y in A m e r ic a is c o s tin g f r o m 1 t o 2 p e r c e n t m o r e th a n
it o u g h t t o , s im p ly f r o m t h is u n c e r t a in t y , as o f c o u r s e c a u t io u s
p e o p le w ill n o t r is k th e ir g o ld w it h
b a c k in s ilv e r .

th e c h a n c e o f g e t t in g it

H o p in g th a t y o u w ill be s u c c e s s fu l in y o u r e ffo r t ,
I a m , y o u r s t r u ly ,

J ohn W orkman.

It will Dot be amiss to add here the views expressed
by J. P. Morgan on this same question. Mr. Morgan
ha3 just returned from Europe, and naturally the pub­
lic was anxious to learn how he regarded the situation.
While Mr. Morgan was clearly averse to talking on the
subject, he was finally prevailed upon to make the fol­
lowing remarks. We take the account of the inter­
view as it appeared in the “ Evening Post” of Thursday,
“ T h e d o m in a t in g q u e s tio n o f c o u r s e is t h e c u r r e n c y p r o b ­
le m . I f t h a t is s e t tle d s a t is fa c t o r ily E u r o p e w i l l b u y o u r
s e c u r itie s .
sa id .

I f it is n o t , sh e w o n ’ t.

T h a t is a ll t h e r e is t o

be

B y a s a t is fa c t o r y s e t tle m e n t o f th e c u r r e n c y I m e a n a

d e c is io n th a t th is c o u n t r y w ill m a in t a in th e s in g le g o l d s t a n d ­
a r d . U n le s s E u r o p e a n c a p ita lis ts k n o w in w h a t m o n e y w e
w ill p a y o u r d e b ts t h e y w ill n o t in v e s t in o u r s e c u r it ie s , a n d
th e r e c a n b e n o s o u n d m o n e y th a t is n o t b a s e d o n t h e s in g le
g o ld s ta n d a r d .

A s I h a v e a lr e a d y s a id , I h a v e n o t h in g to d o

w it h p o litic s , b u t it is m y o p in io n th a t if th e R e p u b lic a n p a r t y
a d o p ts a s o u n d -m o n e y p la t f o r m a t S t. L o u is , a p la t f o r m

in

w h ic h th e r e is n o s tr a d d le , b u t w h ic h is u n m is t a k a b ly in fa v o r
o f th e s in g le g o ld

s t a n d a r d , a n d t h e n o m in e e a c c e p t s a n d

sta n d s o n th a t p la tfo r m , th e r e su lt w ill b e s a t is fa c t o r y a lik e t o
th e c a p ita lis ts o f E u r o p e a n d to th e m a jo r i t y o f

t h e p e o p le o f

th is c o u n t r y w h o h a v e th e c o u n t r y ’s r e a l a n d b est in te r e s ts a t

J une 13, 1896.]
h ea r t.

THE CHRONICLE.

There should be no straddle, no c o m p r o m i s e but a n
money plank in the plat­

u n m ista k a b le s in g le -g o ld -s t a n d a r d
f o r m .”

RAILROAD GROSS EARNINGS FOR MAY.

RECEIPTS

1067

OF COTTON AT SOUTHERN PORTS IN MAT, AND
JANUARY 1 TO MAT 3 1 , IN 1 S 9 6 , 1 8 9 5 AND 1 8 9 4 .

1896.
Galveston................bales.
Texas City, Ac...............
New Orleans.......................
Mobile....................................
Florida..................................
Savannah.............................
Brunswick, A c....... .
'loarleston...........................
Port Royal, A c................
Vilmlngton........................
Washington, A c ............
Norfolk.................................
W est Point, Ac...............

10,224
1,714
41,438
2,102
113
2^.798
495
2,902
140
2,569

1895.
14,561
3,192
55,106
2,699
350
13,897
1,609
3,470
5,893
228

1894.
0,814
3,779
28,150
2,589
768
17,239
10,855
1,995
4,888
495

1896.
237,806
52,504
550,604
64,298
13,203
219,910
30,300
07,348
37,769
35,555
125
149.1 OS
30,297

1895.

FROM

1894. ~

433,4 OS 190,154
29.221
12,547
902,342 570,953
71.463
52,178
9,026
10,082
243,849 211,509
46.476
40,074
113,609
58,570
78,251
34,713
33,014
29,583
126
53
145,993 139,489
95,423
91,701

Returns of railroad gross earnings again give evi­
dence of gradually developing unfavorable conditions.
For the month of May our statement, covering 95,647
miles of roal, shows an increase of only $834,634, or
2*28 per cent. This is the smallest amouat of im
provement recorded in any preliminary monthly state
ment of ours since last Augas ■, and furnishes a strik­
17,027
10,487
9,374
3,430
4,524
2,949
ing contrast with the results for January and February,
108,952 118,225
Total...............................
89,895 1,488,507 2,202,804 1,448,211
in which latter month we reported the largest increase,
It is also well to remember that we’ arb now compar­
with one exception, shown in about four years. In
ing
with better results in 1895 than was the case in the
truth, since February the comparisons have been grow­
earlier
months. In May last year the showing had
ing poorer every month, just as up to that time they
been
the
best in a long while, the increase reaching
had been steadily growing better.
$2,361,407,
or 6-38 per cent. But in part the recovery
It i3 a significant fact, too, that nearly half the roads
then
was
larger
than in the previous months, because
actually report a falling off in earnings a3 compared
the
loss
in
that
month
of 1894 had been so very heavy,
with the same month last year. To speak with greater
exactness, out of 128 roads co itributing returns to our having amounted to no les3 than $7,782,001, or 17’55
statements, no less than 56 have fallen behind. More per cent. Commenting in our own review last year on
over, while the grand aggregate of the whole 128 roads the gain of only $2,361,407, after this falling off of
shows, as already 3aid, 1834,634 increase, there are over 7f million dollars in May 1894, we were led to re­
four roads among the 128 which together have 1916,926 mark that it furnished evidence that the unfavorable
increase, so that if these four were eliminate! there influences in the situation to which we had so fre­
would be no increase at all in the total, but a small quently alluded were still potent factors. In the fo l­
decrease. The four roads are the Norfolk & Western lowing we compare the May results for five years.
with $347,147 gain, the Canadian Pacific with #256,577
M ilea g e.
E a r n in g s .
In crea se
or
gain, the Great Northern with #199,377 gain, and the
T ear
T ear
T ear
T ear
D ecrea se.
P reced in g .
G iv e n .
G iv e n .
P r e c e d in g
Milwaukee & St. Paul with $113,825 gain. Of thsse
M ile*.
M ile*.
$
t
»
four, the Norfolk & Western suffered a heavy I0 3 3 la3t 1892 <143May.
roads).......
96.429
39,067,824 83,242.992 I n s .
93,874
824,832
43,074,051 39,536,977 I n c . 3,537 074
94,122
year on account of a strike of its miners, and the 1893(137 roads)...... 95,809
1894 <120 roads).......
30,501,050 44,313.051 D eo. 7,782.001
96,531
other three owe their large gains to ths heavy move­ 1895 1132 roads)....... 100,273
39.391.432 37,030,025 I n c . 2,361.407
100,178
l*»96
(128
roads).......
37,524,380 30,6*9,752 I n c . 834,034
95,047
95.230
ment of wheat ia the spring-wheat districts of the
J a n . 1 t o M ay 31.
Northwest. Indeed the Northwestern roais constitute 1S93
(142 roads).......
204,120,016 191,529.058 I n c . 12,590,958
96,325
93,769
210,740,879 211,575,015 I n c . 8,105,864
94,016
about the only group where the returns are almost uni­ 1893 135 roads)....... 95,703
1894 129 toads)......
181,600,003 211,394,392 D ec . 29,728,389
98,958
90,531
formly favorable. In all the other groups the guns 1395 (131 roads)....... 100.253
100,158
189.090,197 185.603,075 T n c. 4,080,522
95.000
189,753,048 177.3-* 1.077 I n c .12.397,571
and losses are pretty nearly evenly divided, there being 1396 IL26 roads)....... 95.477
Another important reason for the less satisfactory re­
nearly as many lo3ses in each group as there are gains.
Of course one very prominent reason for the less sults this time remains to be mentioned. In the pre­
satisfactory resnlt3, affecting all cla3ss3 of roads, is vious months there wa3 a marked advantage in favor
found in the widening depression in trade from which of the present year from a larger grain movement. In
all sections of the country are suffering. Taere have May no such advantage existed, except at one or two
been since last December several temporary spurts of of the spring-wheat points. Taking the four weeks
activity and recovery in business, but on the whole the ending May 30 the receipts of wheat at the Western
depression has become steadily more pronounced under primary markets reached 7,588,046 bushels in 1896,
the fears engendered by ths currency situation an 1 the against only 6,419,890 bushels in 1895, thus showing
uncertainty regarding the action of the two great par­ an increase of a million bushels; but at Duluth the
ties on this all-important question. But if the cur gaie was over 2£ million bushels, and hence it is evi­
rency situation ha3 been a disturbing factor of large dent that except for the extraordinary increase at that
moment, there have also bsei other contributing in­ point the general movement would have shown a de­
crease ; a3 a matter of fact, out of the ten points in­
fluences and causes.
In the firat place, the month had one less working cluded, eight record a falling off in their wheat
In the case of corn the receipts were
day than the same month last year, it having contained receipts.
five Sundays the present year against only four last 2^ million bushels less than last year, being 6,511,954
year. In the South and Southwest there wa3 a clo3sr bushels for the four weeks of 1896, against 8,781,675
approach in ths cotton movement in the two years, but bushels for the four weeks of 1895; in oats, too, there
still at a number of points this year's movement fell was a falling off of about two million bushels, though
below that of a year ago. At the Sautbern outports on the other hand the receipts of barley and rye were
the receipts the p e3ent year were 108,952 bales, heavier than in 1895. It is proper to say that the unfa­
against 116.225 bales last year; on the other hand, vorable comparisons are due to some extent to the fact
the shipments overland amountei to 71,701 bales, that in May 1895 the grain movement had been quite
against 63,705 bales. From the following table, show liberal, the advance in prices at that time having tended
ing the receipts in detail, it will be seen that while to draw out old supplies. The following furnishes the
there was more or less irregularity, at most points there details of the grain movement. It will be observed
was a falling off from the totals of the stme month of that in the Central Western Statss the falling off has
been very general.
last year.

THE CHRONICLE.

10(58

RECEIPTS OF FLOUR AMD GRAIN FOR FOUR WEEKS ENDING MAT 30
AND SINCE JANUARY 1.
F lou r,
(bbls.)

W heat,
(bush.)

Chicago—
187,210
137,701
4 wks. May,
821,400
192,033
4 wks. May, 1896
949,797
3,642,170
Since J on.1,1890
2,359,685
Since J&n.1,1895 1,255,187
M ilwaukee187.200
396,780
4 wks. May, 1896
102,250
621,285
4 wks. May, 1896
2.973,142
Since Jan.1. 189(1 1 304,950
647,430 j 2,001,859
Since Jan.l, 1895
Bt. Louis—
4 wks. May, 1806
97,003
808,340
4 wks. May, 1895
07,580
707,825
496,905! 2,468,198
Since Jan.l. 1890
411,961
1,368,482
Since Jan.l, 1895
Toledo—
137,600
4,951
4 wks. Mav, 1896
519.9C0
4,373
4 wks. May, 1895,
1,030,000
Since Jan.l, 18961
23,240
2,118,100
27,559
Since Jan.l, 1895]
D etroit—
34,549
12,175
4 wks. May, 1896
217,417
13.430
4 wks. May, 1895,
568,005
68.611
Since Jan.l, 1896
908,194
56,239
Since Jan.l, 1895]
Cleveland—
3,877
210.780
4 wks. May, 1896
304,357
40,010
4 wks. May, 18951
777,302
10,459
Since Jan.l. 1896
1,823,401
223,816
Since Jan.l, 1895
P eo ria —
40.350
16.800
4 wk9. May, 1896
108,600
40,500
4 wks. May, 1895
584,550
139,250
306,850
153,525
D uluth—
3,700,424
305,195
012.105
1,247,589
738,115 15.002,322
918,576
7.040,980
M in n ea p olis2,390,330
14,539
2,237,810
44,775 23,579,740
14,220,380
K ansas City—
01,659
73,347
543,546
214,149

.......
.......

Total o f a ll-

Oom,

(bush.)

Oats,
(bush.)

B a rley,
(bush.)

By

(bush.)

055.948
298.229
6,276,342
3,959,044

70,106
98,9o2
581,3^9
710,873

629,600
229.450
959,000
196,200
100.700 1.205.000
891,800 3.467.000 3,920,135
662.450 3.456.000 1,974,287

116,275
66.410
465,225
322,092

611,990
676.505
3,507,428
3,611,860 2,959,015

22,549
7,621
909,139
613,771

12,761
1,893
72,4 L6
44,279

131.700
306,1.00
2,205.700
2,484,400

5,500,
16.200;
48.600
79,500

...........
9,200
1.700
36,600

3,000
6,400
16.600
20,800

70,351
60,034
785,053
971,813

86.355
128,055
649,961
639,831

61,135
37,417
041,073
213,983

80.819
83,973
303,587
628,244

104,209
105,013
425,401
825,948

2,395
3,750
16 808
94,619

3,986,681 6,237,545
6,156,226 7,219,385

871,931
514,845

[V ol. LXIi.

In view of all the circumstances it is not surprising
that the May statement of earnings is not so good as thestatements for the preceding months.
We have
already referred to the gains on the Norfolk & Western,
the Canadian Pacific, the Great Northern and the St.
Paul; in addition there are some other fair-sized
gains, but none as large as $100,000. Among the roads
with losses, the Missouri Pacific and the Cleveland
Cincinnati Chicago & St. Louis stand at the head of the
list, the one having $203,071 decrease and the other
$130,338 decrease; and we may say that the larger
decreases quite generally come from the Southwest and
the Central West. We append a list of all gains and
also all losses above $30,000 in amount.
PRINCIPAL CHANGES IN G R O S S EARNINGS IN M A Y .
JLWt L I C a S c S i

53,200
961,650
1,141,250
30,800
1.422,030 2,551,900
9,553.450 0,538,800 1,082,4<
778.400
5,867,790. 0,873,300

150,406

401,002
58,490
1,142,381
274,797

3,6C0
11,400
68,450
40,800

330,029
1,098
787.400
25,581

70,778
136,^03

7,588,040
6,511,954
759,441
8,781,675
6,419,890
1,133,088
3.842.132 51.174.983 50,997.113
3,692,293 33,007,030 33.S41.334

$347,147
256,577
199,377
113,825
96,614
87,587
61,669
47,592
45,479

Missouri P a cific...........
Cl. Cin. Chic. & St. L .
Texas & P a c ific ...........
Illinois Central............
St. Loui3 Southwest’ a
M exican R ailw ay.......
Mo. Kansas & T e x a s..
Atlantia & P acific*___
Southern R ailw ay___

$203,071
130,338
78,048
61,706
59,796
55,734
49 .669
42,975
40,514

36,508
34,029

Total (representing
9 roads)...............

$724,851

Total (representing
13 roads).............. $1,397,106

085,420
89,114
99,330
789,821 2,374,430
440,355
9,96
27,647
135,082
171,937

Norfolk & W estern___
Canadian P a cific........
Great Northern..........
Chic. Mil. & St. P au l..
N. Y. Central...............
Minn. St.P.A S.Ste. M.
Col. H ook.Valley & T .
Chicago Gt. Western..
Wheeling & Lake Erie
Louisville & Nashville
Toledo & Ohio Central
Ohio. R ook L & Pacific

03,009
30,984
9,953.497 1,760,«51
581,128
11,964,212
55,338.703 13,610,99‘
39 578,302 i 7.696,235

276,519
184,008
1,393,286
1,135,814

* For three weeks only.

As already indicated, there is one group—the North­
western— where the returns are almost uniformly good,
there being only two exceptions to the rule, which
have already been mentioned. In the following we
furnish a comparison for six years of a number of roads
in that group. It will be observed that three roads
show for 1896 the largest May earnings of any of
the years given, namely the Great Northern, the Bur­
lington Cedar Bipids & Northern and the Duluth
South Shore & Atlantic.

We Lave referred to the gain in the wheat deliveries
at Duluth and the large movement generally in the
spring-wheat sections of the Northwest. But even
here there have been exceptions to the rule. For in ­
stance, the Minneapolis & St. Louis reports a loss in
EARNINGS OF NORTHWESTERN LINES.
earnings—it being one of the two roads in the N orth ­
western group that report a decrease, the St. Paul &
1892.
1891.
1896.
1894.
1893.
1895.
M ay.
Duluth being the other— and in explanation of that
S
$
$
$
$
*
277,460
201.828
292,476
286,659
310,857
decrease General Manager Mohler says: “ We have Burl,Ced.R.& No. 316,057
360,987
343,569
295,987
353,592
373.089
272,278
Chic. Gt. W e s t—
double the quantity of grain in our cribs and elevators Chic.Mil.&St.P. \ 2,257,913 2,114,093 2,259,714 S 2,540,294 2,251,619 2,097,548
131,706
120,993
< 161,282
Milwau.&No.. 3
compared with a year ago and a very much larger Ohic.
1,610,757 1,256,896 1,281,798
R. I. & Pac. 1,201,242 1,167,213 1,370,774
205,066
172,867
184,613
193,873
143,503
223,770
Duluth
S.S.&
Atl.
quantity in the hands of farmers. Low prices and the
992,169 1,024,956
1,145,493
1,430,678 1,231,301 1,043,442
Great Northern..
impassable condition of country roads for the last six Iowa Central....... 129,021 123,049 125,427
123,508
106,320
155,147
134,275
130.575
137,470
157,729
140,940
148,915
Minn.& St. Louis.
weeks explain the temporary decrease.”
129,930
170,948
117,792
158,8 -3
109,230
140,038
8t. Paul & Duluth
At Chicago there was a falling off in receipts in
6.709,833 5,866,516 5,744,62 *V>
T otal................ 0,148,955 6,728.513 5,783,775
the case of every one of the cereals, excepting only
In the Southwestern group the leading roads quite
barley. For this point we have the movement for
generally
fall behind their last year’s total, though the
the even month, and find that the aggregate receipts
Colorado
lines,
like the Denver & Rio Grande and the
of wheat, coin, oats, rye and barley were only a little
Colorado
Midland,
form exceptions.
over 12 million bushels, against 15 million bushels in
EARNINGS
OF SOUTHWESTERN GROUP.
1895. The deliveries of live hogs at the same point
were also somewhat less than in May last year, the
1891.
1892.
1890.
1895.
1894.
1893.
M ay.
comparison being 660,113, against 674,864, as will ap­
*
$
$
*
*
$
685,495
681,827
577,300
564,030
757,717
557,011
pear by the following. It is proper to say, however, Den.&Rio Gr. *208,666
287,242
279,075
300,152
*223,856
217,287
Int.&Gt. No.*
419,9»4
393,132
that the live-stock movement as a whole at Chicago was K.C.F.S.&M.+ a283,253 O303.097 397,997 417,601
708,780
746.825
731,451
781,120
890,227
089,531
Mo. K. & Tex.
larger than last year, the railroads having brought in Mo.P.&Ir.Mt. 1,687,000 1,590,071 1,869,690 2,119,909 1,908,384 1,916,496
64,810
81.290
42,700
50,800
80,894
96,047
23,327 car-loads in May 1896 againat 21,570 car-loads 3t. Jos.&Gr.I.
285,874
363,900
303,382
304,200
295,705
363,996
3t.L. Southw.
in May 1895.
460,040
411,642
401,329
470,237
514,972
479,377
Texas & Pac.
Total............

RECEIPTS AT CHICAGO DURING MAY AND SINCE JANUARY 1.
Since Jan uary 1,

M ay.
1896.
Wheat.busta.
Corn...bush.
O ats., bush.
Rye., .bush.
Barley.bush.

214,187
4,821,406
6,797,730
76,605
702,343

1895.
410,727
0,416,736
7,752,335
134,842
341,509

1894.

1890.

1895.

1894.

468,182
2,316,255
3,545,928
1,587,142
5,159,357 29,021,700 18,582,225 33, 54 855
7,212,144 37,591,312 24,122,142 28.400,274
74,686
578,459
700,329
611,223
0,192,152
208,068
3,905,315
4,294,839

Total grain 12,115.331 16,056,149 13,212,437 76,929,011 49,626,590 71,34 8.333
Flour., bbls.
145,880
934,754
211.989
304,991
1,243,088
1,920,733
Pork....bbls.
4,240
437
970
162
2,655
2,904
Outm’ts.lbs. 12,550.725 11,732,835 12,107,818 65,232,975 09,345,370
6.545
Lard.......lbs.
6.201,152
3,519,450 0,032,618 31,567,074 23,035,865 30,235,8c 2
Live nogsNo
573,187
680,1131
674.864
B,134,471
3.510,577
3 If 3,037

4,234,893

4,056,317

4.67S,358

5,471,525

4,824,253

4,789,546

+ Includes the Kansas City Clinton & Springfield and the Current River f o r
all the years.
* Galveston Houston & Henderson not included for 1896 and 1895.
a Figures here for 1396 and 1895 are simply the totals o f the earnings for the
four weeks o f the month as reported in the weekly returns; the m onth’s ear M
lngs usually exceed the weekly estimates quite considerably.

Among Southern roads there is considerable irregu­
larity in the character of the returns, the large gain
reported by the Norfolk & Westero, however, carrying,
the total for that group well ahead of that for last
year.

THE CHRONICLE.

JDBB 13, 1896.]

1069
O r o tt E a rn in g s.

EARNINGS OF SOUTHERN GROUP.

S a m e o f R oa d .
Mas,.

189$.

1895.

ISM .

1893.

1892.

1896.

1891.

1895.

$
*
f
f
*
*
832.744
8S3,811|
571,80
863,120
744,455 ♦729,826
83.334!
80,955
89,247
104,341
84.087
119.8S8
71,832
OSO.165^
71,588
R7&137
81,212
89,929
1,571,900 L5S3.3541 1,481,409 1,761,613 1,707.678 1,496,504
91,962;
99,326
*81,444
107,268
97,496
110,752
291,670j 260,012
29S\t2r
314,539
263,480
276,177
411.871!
3S3,oae|
358.647
303.890
118J.1V 13CS.S78
933,868
929,314
880.4G8 £533,231
769,552
764,819
1,353,493 1.394,0071 1,298,639 L511.4S4 1,465,043 1,587,455

*
$
Ohw« & Oh t o ......
Balt.ifc O h io Soutlrw .
4 6 1 ,94 6
■ 4 3 8 ,2 2 1
Georgia.......... .
B trm 'ham & A tlanta e
1,679
1,33 2
Kaa.C.Mem.ABSr.
Buif. R o ch . & Pittsfc.
2 63 ,67 8
281,50 2
Burl.
C
ed.
R
.
&
N
o
,.
3
1
6
.0
5
7
292,47
i
I iO u Is t . k N&sfcv.
C anadian P a c ific ___
1 .6 9 8,00 0 1 ,4 4 1,42
Memphis k Char..
C arolin a M id la n d . . .
2 ,317
2,01
Mobile & Ohio....
ChesaneaKe & O h io .
8 3 2 ,7 4 4
833,81
Naah.CbatA St.L.
Ches. O. & So. W e st’ ll
179,201
194 ,59
N o rfo lk * W estA
Ohio. & E a s t Illin o is
2 5 8 ,1 0 9
259,60Ohio. G reat W estern
3 4 3 ,5 6 9
oothern R ’w ay..
2 9 5 ,9 8
Chic. M il. <fc 8 t. P aul
2 ,2 5 7,91 8 2,144,091 i
5,597,611 5,229,670- 5,155,506 6,038,669 6,651,3" 5 5,471.252 Chic. P eo.& St. L ouis
T o ta l.............
68,483
7 9 ,4 0(
a F igu res h ere fo r 18S»4 and 1-395 are sim p ly th e to ta ls o f th e earn in gs f o r th e Chic. R , Is l. A P a o ..
1,2 0 1,24 2 1 ,1 6 7 ,2 1 ; :
fo u r w eeks of th e m on th as re p orted \n th e w eek ly r e t u r n s ; th e m o n th 's
Ohlc. A W e s t M ioh ..
124.915
1 0 8 ,43 5
ea rn in gs usually e x c e e d th e w e e k ly estim a te s q u ite con sid e ra b ly .
Cin. G e o r g . & P o r t s .
5 ,1 4 5
5,251
b In clu d in g S c io to V a lley & N ew E n gla n d a n d Shen an doah V a lle y f o r all th e
O in.Jaek. & M a e k ...
54,782
42,231
y ea rs .
C iD .N .O .& T e x .P a c ..
2 6 3 ,1 0 5
2 7 3 ,8 U
* F ou rth w eek o f M ay n o t rep o rte d ; ta k e n sam e as last year.
O tnn.Port3m ’ th & V a
? D oes n ot In clu d e th e K iizahetht'n L e x in g to n * B ig S an dy road in th is year.
21, 10f
2 2 ,1 8 8
w ere larger.
t Figure-* are ap p roxim ate, sam e a s f o r fcb
C lev. C a n to n & S o ..
63,761
43,561
| W estern k A tla n tic n o t includ ed.
Oley. e tn .C h .A 3 t. L .
1 ,0 5 1,19 9 1 ,1 8 1 ,5 3 '
L o ra in & W heel
1 2 7 ,29 0
107,724
Among the east-aud-west trunk lines (so far as we CC lev.
olorad o M idland . .
154.19S
166 ,01 8
Col. H o c k . Y a l. & To!
186,512
124,84c
have returns for them thus early) the New York Cen­ Ool.
S an’ ky. & H o ck .
62,813
36,461
olusa & L a k e ...........
1,300
1,80C
tral and the G-rand Trunk report small gains, but most CDenv.
& R io G ra n d e .
577 ,30 0
5 6 4 ,00C
D, M oin es N o & W est
31,165
28.15J
o f the rest of the roads fall behind.
D. M o n ie s * K an. O..
8,211
6,951
EJLE5USOS OP TRUNK. U S E S .
D et. L a n s’ g & N orth.
90,166
87,4 46
Dul. So. S h ore & A tL
193,873
2 2 3 ,77 0
1894.
1893.
1892.
May. ,
1895.
1891.
189A.
j
E lgin J o lie t A E a s t.
96,589
91,311
E vansv. A In d ia n a p .
21,5 03
22,362
f
*
*
*
!
*
*
E vansv. A R ic lim 'd ..
9 ,257
9,682
192,142
187,830
E vausv, & T . H a u te .
B. & O. 8 .W | 491,946
81,844
82,718!
453,801! ! 192,763
483.224
F lint & P e re M a ra ...
2 05 ,01 7 :
317,648
209,131
O h .* Mia.?.
310,116
332,703
187 .77 7
177 ,52 9
1,051,199
1,181,537
1,030,084! 1,184,755
1,097,354
a e .c .* 8 t .L
1,026,723 Fla. C ent, <fe P e n io ...
Ft. W orth & R io G r .,
16,5 52
26,93c
1,490.201
1,479,882
1,423.28*
1,574,915
1^03,473
G .T .ofC an ,
1,142,810 G e o r g ia........- ..............
83,361
81,087
254,811
j
294.
IIS
243,280
300,133
268,374 G e o rg ia A A la b a m a ..
C lUkG.T...
3 7 ,1 3 2
63,758
78,091;
*74,474
70,929;
94,217
80,536
n .G M k H ,
82,830 Ga* Sou tlx. A F lo rid a
70,357!
6 7 ,1 9 2
S,0O3,OSfij 3,304,853; 4,001,613
3,704,
3.043,405
3,474,437 Gr, R ap ids & In d ia n a .
1 58 ,75 0
N .v .a A H .t
1 52 ,78 3
Cin. R ich . A F t. W ..
34,211
3 6,6 48
965, H5.
986,823:
857,244:' 1,110,904
955,889
1,038,64 7
W abash. . . .
T ra v e rse c i t y .........
3,684
4 ,4 7 5
T o t a l......
Musk. G r .R .A In ci.
8,017,513
8,067.7*7
*7391,923
8,778.948 8,085.506
9.098:
7,654,333
10,5 88
Gr. T ru n k o f C anada. 1 ,4 9 0,20 1 1,4 7 9,88 2
• Fourth week not reported* taken »ame as last year,
C hic. Je G r. T ru nk*.
1 57 .20 2
1 8 3 ,7 8 4 !
t Includes Rom e Watertown * Ogdcnsourg fo r all the years.
D et. G r.H a Y .A M ll."
53,1 11
47,6 86
In the case of the other roads in the Middle and
Cin. Sag. & M ack.*.
7 ,585
7,495
T oL Bag. & M usk".
3,687
4 ,4 6 0
Middle Western States (aside from the trunk lines) Gt, No.—S. P . M . & M. 1,1 2 0,44 5 . 1 ,002,608
E astern o f M in n ...
1 4 3 ,96 2
104 ,55 5
the gains and losses are on the whole pretty evenly dis­ M
on ta n a C e n tra l..
124 ,13 8
166,371
G n if ,fe C h ica g o ...........
3.025;
3 ,435
tributed, the final result being slightly in favor of the Btumeston & a lien ..
6 ,603
8,800.
Illin
ois
C
e
n
t
r
a
l
.........
1
,6
5
1
,8 3 2
1
,5
8
7,12
6
present year.
In te rn a t'l & G t, N o .;
2 2 3 ,8 * 6
2 0 8 ,66 6
SA&XUK3S o r MIDDLE AND MIDDLE WESTERN ROADS.
In te ro ce a n ic (M ex.t."
1 3 9 ,30 0
1 3 9 ,22 0
Iow a C e n tra l...............
129 ,02 1
1 2 8 .04 9
iro n R a ilw iir ,..........
3 ,7 6 9
4,458
1895. | 18M . | 1883.
1892.
Mm.
Mm,
1801.
K anaw h a & M i c h ___
40,1 48
3 5 .1 7 6 1
Kan.U.
F
t
,8.
A
.Mem.3
0
3
,0 9 7
2
8
2
,2
5
3
!
•
1
1
*
t
$
j
»
K an. C. M em . & B ir - .
76,137
80,1 05
A n a A r b o r ,...,....
75.591
86.2*9
82,678
S9.068
85,314
84,758
Kan. C ity A N .W .........
19,332
20,3
81
Buff. R o c h . * P itt.
94,867 j S07,»&1
263,678
231,502
268,592
242,044
K a n .C .A B e a t r i c e ..
406
316
258,169:
Oh l o w , A B u t. III.
300,150
259,001
105,028
299,012
234,313 K an.C .P ittsb. ,v.Gulf.
50,101
41,2 39
a l08,l m . U12I.012
# U e . * W e s t Ml eh
120,129 | m ,« 8 4
160,717
140,380 Kan. C ity Sub. B e l t ..
26,714!
21,528
K eokuk & W e ste rn . . ,
€«.>L l i . V. * T o l ...
24,6 49
186.512:
124.843
1.03,113;
245,411
30.098!
231,504
■387,201
6,361
3,806!
<*91,100
33,059
D«f. L * s *Ib » * No.
<*87,4*0
101,081
03,761
95.022 L ake Erie A ll. & S o .
L
ake
E
rie
A
W
estern.
296
,09 7
2
82,184.
8 i.Si
104,132
R r a c r r .* T e rre H .
79,769
***718,
100,331
80,481
Lehigh <fc H u d . R iv er.
41,2 90
30.6 04 :
r u n t A !». M ara...
187,781 : m e n
205,017 j 209.131
218.590
214,450 L o n g I s l a n d - .- ..........
3 6 1 ,87 5
3 51,541.
Or. R a p .* l a d . . . . . .
310, *01 ! 191.95*
270,751
169,77*>
251,6*8
230,214
L oulsy. E va n s, & S t.L
117,263
121,865]
1 i ll s o l s C e n tr a !..., 1.587.120| 1,651,.832 1,427,870 1,739.507- 1,458,354 1,423,573 L oulsv. it N a s h v ille .. 1,571,9001 1,5 3 3,36 4
248 ,60 5
249,023!
282,18.*:
802,680
298,097
259.547
Lake Hue A W est.
2S3.083
251,428 L ouisv. N. A lb.t* Chic.
L ou isv. S t.L . & T e x ..
38,2 64
32,8 38
371,301
L o n g Isla n d ,...........
351.541| 361.875
352,789
3So.CH
359,255
M a n is tio u e ............ ..
15,5 70
10,515
Lott. B r a n * .* gfcX .
108,941
138,217
107,901
121,8651 117,763
125,748 K em p . & C h arlest’ n ’
54,537
54.0 19
2*9,021 j 248.605
L oot*. N .A .* Chic
233,003!
268,573
258,498
280,015 M ex ica n C e n tra l.......
769 ,94 8
7 9 5 ,2 1 0
3C«,8S3|
283,930
322,482
N . Y. O ut, * W est.
346,481
240,309 M exican N a tio n a l..
3 5 4 ,6 6 0
300,118
363.594
2 82 ,97 7
227,241
P itta b * * Weat'n.
2?3,2S2|
254,402
179,082
240,146
198,049
187,801 M exican R a ilw a y ___
M
ex
ica
n
S
o
u
th
e
rn
*
..
28,361
20,2
45
124.472!
87,964
70,078
WaL * O h io Cent . .
142.099
152,562
125,095
M inn. A 8 t. L o u i s ....
157,729
137 ,47 0
88,310
74,641
T o L P e o . * W e st..
76,3181
58.628
72,010
76,345 M inn. St.P.&S.Sfce.M.
179,763
2 6 7 ,3 5 0
T o L St. L, * Kd C.
171,425}
HV1829
113.852
138,422
168,205
105,881 Mo. K an?. AtTex.avs,
7 8 1 ,1 2 0
731 ,45 1
W est. N. t i p s .
•285,9331 286,033
320,441
204,1*9 Mo. P a o. 6z Iro n M t-. 1 ,6 3 2,00 0 1 ,8 4 7,33 4
182,500
280,875
C entral B ra n ch . . .
42,7 37
72,370
6 5 ,0 0 0
117,849}
13/,050
W h eel. * X*. Erl©...
04,837
i» ,« ia f
104,007
14,9 24
M obile A B iro i'g h a u i"
14,518
T o t a l . . . . , ......... 5,110,628 5,313,843 4,525,982 6,190,202 5,478,306 5.142,118 M obile & O h io ........... .
2 9 1 ,6 7 0
3 1 4 ,53 9
M ont. & M e x . G u lf . .,
101 ,74 6
88.6 82
N ash. Chat. A St. L ..
3 8 8 ,0 6 6
3 9 2 ,85 9
a Figure? her# for ISti i and 1893 arc simply the totals o f the earnings fo r the
fou r weeks o f the-month as reported In th e weekly returns; the m onth's earn, N. Y .C eu. <feH ud . R iv .. 3 ,7 0 4.68 'i 3 ,8 0 8.06 6
N. a . O ut. & W e s t ....
2 8 8 ,9 5 0
3 0 8 ,85 3
tag? usually e*<trt«<9 the weekly estimates quite considerably.
N orfolk A W e s t e r n ...
5 3 3 ,26 1
8 8 0 ,4 0s
* Fourth week n ot reported; taken same m last year.
N orthern P a clfio........ 1,3 1 6,18 6 1 ,3 2 1.28 9
AmoDg the Pacific roads the Canadian Pacific has a O hio reiver....................
64,007
7 9 ,6 0 8
37,585
O hio S ou th ern .............
55,3 34
considerable gain, the .Northern Pacific a small loss.
72,4 82
P eo. D e c . & E v a n s v ..
6 4 ,1 3 6
Pitta. M a rion A C h ic.
3,278
3.355
BABNISOS OF PACIFIC ROADS.
58,422
5 9 ,1 0 4
Pittab. Shen. & L. E._
147,568
P iu a b . & W e s te r n ___
1 60,127
1895.
1894.
1803.
1892.
M ay.
1806.
1891.
73,8 18
P ittab. C lev. & T o l.
75,5 96
3 3.0 16
Pittab. P a . Sc F a ir .,
3 7 ,5 5 9
*
*
I
%
*
*
3 9,195
Qm
n.
O
m
aha
&
K
.
C
.
.
23,4
69
1,411,423 1,450489 1,605.542 1,702,024 1,802,920
Can. Pacific...... 1,«99.000
30,1 00
B io G ran d e SoutlTn.
38,311
North'll Pacific- j +313,18$ 1,321,239 1,197470 1,801,986 1,724,375 1,902,771
2 0 1 ,9 10
2 0 7 ,20 0
Eio G ran d e W estern .
100,640
214,102
204,966 Saa. T u sc. & H u r o n ..
217,805
R io Q f. Weat’n.. | 207,200
201,950
9,346
8 ,513
50,8 00
4 2 ,7 0 0
2.064,6*12 2.8*4.505 3.711,680 3,844,894 3,710,647 8t. J o s. & G r. Isla n d ..
T otal............... ; 3,2VI.SS<!
363 .99 6
3 0 4 ,20 0
8t. L o u is S ou th w es’ n.
1 17 ,79 2
!• 9,230
8t. P aul & D u lu th .. . .
O K 0 3 9 E A R N IN G S A N D M IL E A G E IN M A Y .
21,072
3her. Shrev..fc S ou th ..
23,3 35
1,414
1,530
So.
H
a
v
e
n
A
E
ast’
n,
Grots Earnings.
Mileage
Southern R a ilw a y ___ 1 ,3 5 3 ,4 9 3 1 ,394,007
4
7
9
,3 7 7
S a m ea f Uncut.
4
0
1
,3
2
9
T
exa
s
A
P
a
cific..........
Increase or
87.9 64
1 24 ,47 2
1895.
1896.
Decrease. 1896. 1895. Tol. A O hio C e n tra l..
8 6,3 46
78.31S
Tol. P e o ria & W est’ ll,
163 ,82 9
171,4 <55
ToL St. L. & K . C ity .
s
.
*
9 8 6 ,82 3
9 8 5 ,14 5
+ 1,403
337
337 W a b a sh .............
Alabama Ot. 8onth’ n
1 10.465
111,368
174,400
1 7 4 ,30 0
West.
N.
Y.
&
Perm
."
Ala. N .O .T ox,* l ac
97,6 55
8 8 ,6 5 8
W est V a. Cen. & Pitts,
JunoUon Rye.—
7 2 ,3 7 0
1
1
7
,84
9
W
heel.
A
L
a
ke
E
r
ie
..
+
2,142
95,001
195
97,143
195
N. Orl. A N... E a st..
3
7
7 ,8 6 6
3
8
2
.43
8
—2.747
142
35.746
142 W iscon sin C e n t r a l...
Ala- A Yicfcab... . . .
32,999

Tick*!* 8hr, & Puc.
Ann A r b o r . . . . . . . . . . .
Atlantic A Danville .

Atlantic St F»d9©V

45,230
89,083
43,525
242,690

38,579
85,811
49,592

295,669

-6.051
+8,251

—6,007

—42,975

189
307
285
832

189
307
285
831

T o ta l (1 28 ro a d s). . 3 7 .5 2 4 ,3 8 6 3 6,6 8 9 .7 5 2

M ilea oe

In crea se
D ecrea se. ’ 1 896

1 89 5 .

$
92
921
—26,27 3
22
-{-34
22
33 i
-f3 2 ,1 7 5
331
+ 2 3 ,5 8 . 1,13 3 1 ,1 3 6
6,39
6 ,3 4 6
+ 2 5 6 ,5 7
5,
55
, +30
1,36 1 1 ,3 6 0
—1 ,0 6 '
39
—15,39
398
52
516
— 1,49,
92.
9 22
+ 4 7 ,5 8 ,
6 ,16
6 ,1 4 8
+ 1 1 3 ,8 2 .
22
222
— 1 0 ,9 1 '
+34,02<
3,57
3 ,5 7 1
575 76
-1 6 ,4 7 '
45
42
-1 1 84S
349
+ 1 2 ,5 0 (
3:4
336
—10,70S
111
+ i,0 8 ;
11!
2H
210
+ 20 ,20 1
1
,8
50
1.85C
—130.33S
19£
195
+ 19 ,56 1
350
351
+ 11,821
34€
329
+ 6 1 ,6 6 1
2 73
273
+ 2 6 ,3 4 4
22
22
—50C
+13.30C 1,666 1 ,6 5 7
15t
150
+ 3 ,0 1 0
112 112
+ 1 ,2 5 5
33<
334
—2,72C
5 72
572
+ 2 9 ,8 9 7
187
1 87
+ 5 ,2 7 6
156
1 56
—859
102 102
— 426
165
167
+872
637
— 4,114
635
940
940
+ 10,248
146
146
—10,381
307
307
+723
34C
300
+ 2 6 ,6 2 6
285
2S5
+ 3 ,le 5
436
436
- 5 ,9 6 7
86
86
-2 ,4 3 7
26
26
-7 9 1
37
37
—1,492
+ 1 0 ,3 1 9 3,512 3 ,5 1 2
335
3 35
+ 2 6 ,5 8 2
189
1 89
-5 ,4 5 5
53
+90
53
117
117
—773
+ 117.837 3,720 3 ,7 2 0
72
+ 3 9 ,3 0 7
72
256
256
+ 4 2 ,2 3 3
62
62
—410
95
95
+ 2 ,1 9 7
—64,7 06 2,888 2,888
775
775
— 1 5.1 90
531
531
+580
497
497
+972
20
20
— 689
173
173
—5,27s
9 54
916
—20,844
276
276
—4 028
153
153
+ 1 ,0 5 2
21
21
—90
339
+ 9 ,1 6 2
278
35
+ 5 ,1 8 6
35
148
+ 5 ,4 4 9
148
61
61
—2,555
725
—13,913
7 25
90
— 4,596
90
392
—10,334
367
372
+ 4 ,6 0 2
372
+ 3 8 ,5 3 6 2 ,9 7 4 2 ,9 5 6
537
537
+418
166
166
+ 5,426
44
—5,055
44
330
330
—518
+ 2 5 ,2 6 2 1,860 1 ,8 6 0
+ 8 ,9 3 4 1,219 1 ,2 1 9
—55,734
321
321
227
227
—2,116
370
—2J.259
370
+ 8 7 ,5 8 7 1,168 1,168
—49,669 2,060 2 ,0 2 3
—2 15 ,33 4 4 ,9 3 6 4 ,9 9 0
+ 12,263
388
388
149
—406
149
687
+ 2 2 ,8 6 0
687
—13,064
389
3 89
902
+ 4 ,7 9 3
902
+ 9 6 ,6 1 4 2 ,396 2 ,3 9 6
1-19,903
4 77
477
+ 3 4 7 ,1 4 7 1 ,5 7 0 1 ,5 7 0
—5,103 4 ,4 9 7 4 ,4 9 7
+ 1 5 ,6 0 1
215
215
226
+ 1 7 ,7 4 9
226
331
—8,346
331
25
+77
25
183
+682
183
227
227
+ 1 2 ,5 5 9
+ 1 ,7 7 8
77
77
61
+ 4 .5 4 3
61
+ 4 .2 7 4
139
139
180
+ 8 ,2 1 1
180
520
+ 5 ,2 5 0
520
67
— 833
67
—8,100
445
445
—59,7 96 1 ,223 1 ,2 2 3
- 8 ,5 6 2
248
2 48
155
+ 2 ,2 6 3
155
37
+ 122
37
—40,514 4,649 4 ,4 9 4
—78,048 1,499 1 ,4 9 9
+ 3 6 ,5 0 8
367
367
— 10,028
247
247
+ 7 ,5 9 6
451
451
—21,078 1,935 1 ,9 3 5
—100 613
643
+ 8 ,9 9 7
152
152
+ 4 5 ,4 7 0
247
247
918
+ 4,570
918

+ 8 3 4 ,6 3 4 9 5 ,647 9 5 ,2 3 0

* F or three weeks only.
1 E arn in gs o f G a lv . H ons. & H e n d e rso n a re e x c lu d e d tor b oth y ea rs

THE CHRONICLE,

1070

[VOL. LXII.
US—

Name oj Road.

GROSS EARNINGS FkOM JA N U A R Y 1 TO M AY 31.

Name o f Road.
Alabama Gt. Southern..
Ala.N.O T. A P.Jun.Rys.
N O . A N ortheastern..
A la ban a A Vioksburg
Vieksb. Shrev. & P a c..
Atlantio & Danville . . .
Balt. A O . Southwest ...
BlrniIngham & Atlantic
Bull'. Roch, & Pittsburg.
Burl. Ced. Rap. A N o ..
Canadian P acific............
Chesapeake & Ohio.......
Chesap. Ohio & South w.
Clile. A East’ll Illin ois..
Cbic. Great W estern...
Chic. Milw. & St. P aul..
Clile.Peo. & 8t. L ou is..
Chic. R ock Isl. A P a c ...
Chic. A West Michigan.
Ciw. Georg. A Portsm'th
Cin. Jackson A M a ck ...
Cin.N.O. A Texas Pac.
Cinn. Ports. A Virginia.
Cleveland Canton & So..
Clev. Cin. Chic. & St. L . .
Cleve. Lorain A Wheel.
Col. Hock. Val. A Toledo
Col. San'kvA H ockin g..
Deuv. A Rio Grande—
Des M ointsA Kan.City.
Des Moines Nor. A West.
Det. Lansing A North’ n.
JDul. So. Shore & Atl —
Evansv. A Indianapolis.
Evansv. & Terre Haute.
Flint A PereM arauette.
Fla Cent. & Peninsular.
Ft. Worth & Rio Gr’de.
Ga. South’n A F lorida..
Hr. RaDids A In d ian a...
Cin. Rich. A Ft.Wayne.
Gr. Trunk o f C anada...
Det. Gr. H. A M ilw ...
Great Nor. St. P. M.& M.
Eastern o f Minnesota.
Humeston A Slienand’h
Int. A Great N orthern..
Interoceanic (M ex.)*...
Kanawha A M ichigan. .
Kansas C. Ft. S.AMern..
Kan. City Mem. A B ir..
Kansas City A NT. W .......
Kan. City & Beatrice.
Kan. City Pitts. A Gulf.
Kansas Citv Sub. B e lt-.
L. Erie Alliance & S o...
Lake Erie & W estern...
Lehigh A Hudson River
Louisv. Evansv. A St. L.
Louisville A N ash ville..
Louisv. N. Alb. A C h io..
Louisv. St. L. A T exas..
Memphis A Charleston ‘
Mexican Central............

Minneapolis & St. Louis
Minn. St. P.A S. Ste. M..
Missouri K. A Tex. sy s..
Mo. Pacific A Tron M t..
Mobile A Birmingham.''
Monterey A Mex. G u lf..
Nashv. Chatt. & St L ...
N. Y. Cent. A Hud. Riv..
N.Y. Ontario & West’ n . .
Norfolk A W estern........
Northern P acific............
Ohio R iver......................
Ohio Southern................
Peoria Dec. & E vansv..
Pittab. Marion A Chio..
Pittsb. Shen. A L. Erie.
Pittsburg & W estern__
Pittab. Cleve. A T o l....
Pittsb. Paines. F’ pt
Quincv Omaha A K. C -.
R io Grande Southern...
Rio Grande Western___
Bag. Tuscola & Huron..
8t. Jos. A Grand Island.
8t. Louis Southwestern
8t. Paul A Duluth..........
8herman Shreve. A S o..
South Haven A East’n
8ouihern Railw ay.......
Texas A Pacific..............
Toledo & Ohio Central..
Toledo Peoria & West’ n.
Tol. 8t. L. A Kan. Citv..
Wabash............................
West. N. Y. A Pa.*........

1896.
S
560,731

1895.
$
582,174

Increase.
$

521,322
8,966
530,28*
20 *,14^
214,074
13,926
7,422
207,193
214,615
36,812
410,636
457,448
215,583
10,080
225,663
97,736
1,475,911
1,378,1 i t
2,522,293
2,456.032
6,654
2,234
8,888
97,147
1,154,183
1,251,330
318,932
1.441,895
1,7 60,82"
6.043,371 1,414,191
7,457.562
13.889
5,237
19,126
3,815,3-5
375,94 ■
4,191.286
908,084
30,263
938,347
137,914
1,4^2,652
1,590,566
536,272
1,356,428
1,892,700
12,009,114 10,276,413 1,732,75)
32,540
361,469
394,009
5,638,367
300,1 23
5,938,390
651,4 88
598,337
24,203
23,781
50,241
231,098
281,339
1,363.392
1,349,) 69
98,884
10,692
109,576
241,039
22,110
263,149
5,412,465
5,150.677
464,304
68.990
533,294
653.192
777.980
124,788
149 43(
875.867
1,025,297
283.996
11.499
295,495
6,3( 0
4,800
2,616,928
181.415
2,798,378
34,412
8,642
43,054
127,364
5 4 ,8(2
177,166
449,004
422,270
718,290
75,180
793,470
456,979
86.366
543,345
115,661
118,520
2,859
40,563
40,492
402,551
44,537
447,088
1,015,176
109,472
1,124,648
927,724
59,892
867,8311
149,373
135,243
495,996
112,658
608.654
179,674
89,320
269;i94
320.615
356,304
35,689
806,644
810,908
177,371
174,941
18,319
18,181
138
49,372
3,184
52,556
6,927,512
103,928
7,031,440
1,017.573
1,267,533
249,960
331,629
342,295
4,139,194
4,988,005
848,811
438,006
609.961
171,955
775,191
603,478
171,713
17,252
16,386
12,78 2
51,80(
39.013
7,720,060
8,194,438
474,378
1,304,055
1,199,013
968,462
906,016
609,657
771,826
162,169
21,530
20,503
173.553
193,746
20.193
1,745,894
4,744
1,750,638
397,920
58,013
455,933
93,342
105,415
12,073
2,181
1,645
210,595
247,9C0
37,305
110,594
83,943
26,651
164,820
129,365
35,455
32,902
26,770
1,406,806
1,407,006
164,272
183,625
1,277,063
1,309.401
549,425
607,931
58,506
7,992,128
7,541,799
450,329
1,183,510
1,246,995
63,485
181,460
157,537
23.923
52,937
55,156
481,640
395,511
86,129
4,098.206
3,859.279
238,927
1,798,838
186,101
1,984,939
1,258,014
1,425,495
206,530
191,245
15.285
680,047
732,189
52,142
1.318U39
904,728
413,411
4,439,819
4,361,288
78,531
8,571,000
8,690,668
28 1.000
224.583
56,417
105,626
106,907
1,466,620
123,182
1,343,438
474,749
532,530
2,053,768
1,893,56?
160,205
17,401.439 16,894,113
507,326
1.363,855
1,3‘ 7,864
4,659,399
3,753,760
905,639
6,234,183
5,855,004
409,179
382,688
272,467
110,221
308,416
293.265
15,151
346,805
366.213
17,240
16,994
246
246.906
209,733
37,173
651,960
596,315
55,648
323,550
319,547
4,003
112,468
101,476
7,992
123,115
97,408
25,707
177,628
144,929
32,699
898,862
844,215
54,647
40.625
45,182
250,137
260,122
1,854.89(1
1,966,253
500,400
486,29?
14,102
109,970
136,899
6.719
5,493
1,226
7,405,413
7,072,431
332,982
2.458.57S
2,680,583
721,627
621,440
100,187
400,566
386,668
13,900
792,050
672,823
119,227
4,849,69.1
4,712,898
136,795
1,025,319
1,122,482

Decrecut.
$
21,443

1896.
*
472,374
533.021
1,608,852

West V a.C en.A P itts ....
Wheeling & Lake E r ie ..
W isconsin C en tra l........

Increase.

1895.

Decre< se
9

$
69,047
50,038
97,212

$
403,327
482,986
1,511,640

Total (126 roads)___ 189,758,648 177,361,077 13,957,441 1,559,870
Net iuoroase...................
12,397,571
* F or three weeks only In May.

66,261

P R O S P E C T OF M A N U F A C T U R IN G IN D U S­
T R Y A N D F O R E IG N TR A D E I N J A P A N *

53,151
422

Japan has within the last few years assumed a new
position in the family of nations, and since the
war with China her affairs have been attracting a
great deal of attention. The series of articles which
we shall publish treating of her prospects in manu­
facturing industries and foreign trade will he found
very interesting. We may say that the articles have
been prepared by K. Nakamura, a Japanese student
at the Harvard Graduate School. We print the first
article to-day, and there will be two more .to come
in following weeks.

14,223
261.788

1,500

[f ir s t a r t ic l e ] .
Japan

26,734

th ir ty

is a s y e t a y o u n g c o m m e r c i a l n a t io n .

y e a r s s in c e h e r f o r e i g n t r a d e b e g a n .

regarded
71

th e

tra d e as a sou rce o f

is o n l y

d e m o r a liz a t io n .

h e r m e rc h a n t fr o m

g o in g

sh e

S o sh e

r ig id ly

p r o h ib it e d

s t e r n ly

s h u t o u t t h o s e f o r e ig n e r s w h o w a n t e d t o c o m e , a d ­

m i t t i n g a f e w D u t c h m e n u n d e r c e r t a in
14,130

It

T ill th e n

a b roa d, a n d

s tric t

lim it a t io n s -

T h is f e e l i n g o f a n t i- c o m m e r c ia lis m a ls o e x is t e d in h e r d o m e s ­
t i c t r a d e . C o n s e q u e n t ly , o f t h e f o u r c la s s e s o f h e r p e o p le — t h e

4.264
2,429

m e r c h a n t , t h e a r t is a n , t h e p e a s a n t a n d t h e k n i g h t — t h e m e r ­
c h a n t w a s lo w e s t a n d t h e k n i g h t w a s h ig h e s t .

I n t h e m id d le

o f t h e n in e t e e n t h c e n t u r y t h e r e w e r e o n e m i llio n k n ig h t s in
Japan.
10,666

T h e y h a d a p e c u lia r c o n c e p t i o n o f h e r o is m

T h e ir h e r o is m w a s b r a v e r y , c h a r i t y a n d s u b lim it y .
866
105,042
62,446
1,027

w h ic h

w a s fr e q u e n t ly i n c o n s is t e n t w i t h t h e a r t o f m o n e y - m a k in g .
And

as

t h e ir s t r e n g t h in fig h t in g c o n s is t e d in s k ilf u l t a c t i c s a n d a
d a r in g s p ir it , s o in w a r a m m u n it io n w a s a m e r e a c c e s s o r y .
Thus th ey

fo u n d

fu rth e r a n d

lit t le u se

fo r m o n e y .

T h ey o fte n

w ent

r e g a r d e d i t a s w i t c h e r y , f o r a d e s ir e f o r g o ld

f r e q u e n t l y o p p o s e d t h e ir m o r a l id e a ls .
T h is h e r m it c h a r a c t e r is t ic o f t h e ir l i f e w a s p a r t ly d u e t o
t h e ir r e lig io u s t r a in in g , b u t m a i n l y t o t h e c h a r i t y a n d s u b l i m ­

516

i t y i d e a , w h ic h s t o o d in t h e w a y o f f o r e i g n in t e r c o u r s e . F r o m
t h e b e g i n n i n g o f h e r h is t o r y J a p a n h a d n o i n t e r n a t io n a l
t r o u b le e x c e p t t h e C h in e s e in v a s io n , w h ic h t o o k p la c e a b o u t

6,132
200
19,353
32,338

e ig h t h u n d r e d y e a r s a g o ,

and

th e Japan ese

h o w e v e r , e n d e d w i t h o u t a n y s e r io u s r e s u lt s .
J a p a n w a s p ro te c te d b y th e w a te r fr o m

2,219

in v a s io n

of

C orea , a b o u t th re e h u n d r e d y e a rs a g o ; b o t h o f th e se w e re ,
L ik e E n g l a n d ,

fo r e ig n

in v a s io n ,

a n d sh e k e p t p e a c e f u l w i t h i n f o r t w e n t y - f i v e c e n t u r ie s w i t h
t h e e x c e p t io n o f a f e w d o m e s t ic t r o u b le s d u e t o t h e s u b d iv ­
is io n o f t h e c o u n t r y u n d e r t h e f e u d a l s y s t e m .
B u t th rou g h

167,481

h e r r e c e n t fo r e ig n

le a r n t t h e m o d e r n

r e a liz e d t h a t u n le s s s u p p o r t e d
119.688
1,281
57,781
14,009

i 9,408

in te r co u rs e

Japan has

a r t o f w a r , a n d a t t h e s a m e t im e h a s
b y a n in c r e a s in g w e a lt h o f

t h e n a t io n sh e c a n n o t im p r o v e h e r p o w e r o r m a in t a in

her

d i g n i t y a m o n g t h e c i v i l i z e d n a t io n s .

A n d sh e h a s s e e n , t o o ,

t h a t h e r n a t io n a l w e a lt h

b e p rom oted

fo r e ig n tra d e.

can

best

b y her

T h e r e fo r e , w h a t e v e r n e w s p ir it t h e J a p a n e s e

p e o p le m a y s h o w in d e v e lo p in g t h e i r f o r e i g n t r a d e w e s h a ll
n o t re g a rd it as a m e re fa n c y .

W e c a n n o t ju d g e th e J a p a n ­

ese n a t io n

fe a t u r e .

Ja pa n ese

by

h er g ro te sq u e

p e o p le ,

m a n if e s t e d

in

th e

w o n d e r fu l p ersev era n ce a n d c o u ra g e .

T h e s p ir it o f t h e
recen t

w ar,

sh ow s

Ju st h ere rem em b er

t h e f a c t t h a t i t w a s t h e s a m e p e o p le w h o w e r e k n o w n a s t h e
m o s t jo y o u s a n d p o lit e c r e a t u r e s in t h e w o r ld t h a t d e s t r o y e d
t h e C h in e s e n a v y a n d c r u s h e d t h e C h in e s e a r m y .

The Jap­

a n e s e p e o p le h a v e b o t h p la s t i c i t y a n d t e n a c i t y o f s p i r i t , t h e
4.557
9.985
111,363
27,929
222,004

97,163

m o s t im p o r t a n t q u a lit ie s in c o m m e r c i a l l i f e .

E s p e c ia lly in

t h e c a s e o f k n ig h t s w e s h o u ld n o t o v e r lo o k t h e ir s e r io u s n e s s
in

f o l l o w i n g t h e ir n e w

p u r s u it s .

F o r i t is t h e y w h o o n c e

s n e e r e d a t t r a d e t h a t h a v e n o w b e c o m e t h e m o s t e n t e r p r is ­
i n g p e o p le in J a p a n .

T h e y m u s t h a v e d is c o v e r e d h e r o is m o r

* The references in the article, w h erever they occu r, are to the
follow in g reference books : I. A C. o f Japan—Industry and Commerce
o f Japan, published b y Bureau o f C om m erce: R. S.—Resum6 Statistique du Japan, published [by ,thej Bureau o f S tatistics; T. N.—Tokel
Nenkwan.

m m 13,1896, j

THE CHRONICLE.

1071

patriotism in the art o f money-making. They must have But according to the British parliamentary paper the aver­
seen tha t if-Japan should remain passive then other countries age cost price of coal in England was in 1890 about eight
would swallow up her wealth as they did once absorb all the shillings per ton. The following is a comparative table
Japanese gold as soon as their country was open. It is, showing the market price of coal in both countries:
therefore, not merely self-interest but patriotism that has
------------------- .) M'.\ y - . --------------- , .---------------------- E w r , \\'! .,----------------------,
Tokyo. Nagasaki. Average. Newcastle. Hartlepool.
Average,
justified them in entering into trade. Is this not a violent
Ten.
Ten.
$
s. A,
s. d.
$
change? Yes, it is the change from hermit life to commer­ 1 8 9 0 .. - 5 63 4 07 A bout 2 40
18 2
18 10
A bou t 4 64%
2 30
17 6
18 10
4 58
cial life, from chivalrous heroism to industrial adventure. 1 8 9 1 .. . 5 9 7 3 3 7
The cheap price of her coal is of great advantage to Japan
W ill this not make a turning point in the Japanese history ?
What history Japan is likely to unfold is worthy of our at­ over other countries. In 1887 she exported coal to the
tention, Let us try to ascertain the probable direction of amount of 2,376,991 yens and in 1891 to 4,880,770 yens, show­
her commercial movement by examining the present condi­ ing an increase o f 104 per cent in four years. Furthermore,
since the cession of Formosa by China Japan has become the
tion of the country.
In studying the map o f Japan, it seems to us as if nature only coal-keeper in the East. Hence she is in that particular
favored Japan’s commercial activity. Japan is a narrow and most favorably situated for the rise of manufacturing in­
long country surrounded by water. Of forty-two States into dustry.
So much as to the production of coal and iron; now let us
which the country is divided, only two States are excluded
from the sight of the ocean. And all along the coast there study the other principal productions of Japan which may be
are many splendid harbors, such as Yokohama, Yokkaiehi. of help in the development o f her foreign trade and manu­
Toba, Kobe, Hiroshima, Shimonoseki, Hakata, Nagasaki, facturing industry. The following table shows the principal
Kagoshima. Tsuruga, Nana. Awomori, Kominato, Hakodate, mineral productions o f Japan.
Gold,
Silver,
Copper,
Iron,
Antimony’
Otaru, Soya, Nemuro, Muroran, Ishimaki, and many others.
Tear—
Ounces,
Ounces.
Kwan,
Kwan.
Kwan.
Tin's shows that nature provides for Japan the means for an 1886................ 14,963 1,084,852 2,606,452 3,669,054
128,235
1888................
18,057
1,376,436 3,566,503 4,851,951
40,191
easy transportation. Again, in unfolding the map o f the 1 8 9 0 .............. 23,632 1,703,878 5,807,655 5,977,052
504,412
world, we find that Japan occupies a central position among
Coal,
Sulj'hrr,
Liquite, Graphite, Kerosene,
YearKwan.
Kwan.
Kwan.
Kwan.
Tons.
a continuous chain of Asiatic islands lying in the west­ 1886..............2
61,2 30,3 01 1,719,296 2,719,412 1,015,232
539,491
ern part of the Pacific Ocean and ending with Australia. 1888......... ...4 12,0 41,7 20 5,057,564 4,081,916 1,378,643 180,445
1 8 9 0 ..............696,589,835 5,519,924 5,039,988 1,217,352
447,214
At the back o f Japan lies the great continent o f Asia, with
Note.—270 lrwana=l ton.
China in its middle and Siberia and East India at its ends.
Here we see the brilliant progress made by Japan in her
China is the most thickly populated nation in the world
mineral productions. But o f all the items copper is the
and an almost unlimited consumer o f finished goods. Siberia
most important one. In 1890 Japan produced twenty times
has a promising fertile soil which can speedily be
as much copper as England, for the former produced 18,000
developed as soon as the Siberian Railway is opened. The
tons while the latter produced only 936 tons. In 1887 Japan
wealth o f India and Australia is universally known and
exported copper to the amount of 3,031,514 yens and in 1891
needs no explanation. Thus, in tracing the geographical
to amount o f 4,877,090 yens, showing an increase of 140
situation of Japan, we can not fail to see a resemblance
per cent in four years (C. & I. o f Jap., p. 238.) In 1888 there
existing between her position in the Pacific Ocean and the
were in Japan 502 copper mines, covering 5,518,803 tsubos
position of England in the Atlantic Ocean. The commercial
(T. N,, 146)—(those which belong to the Government are not
supremacy of England consists in her maritime, manufac­
counted here), and since then a few mines have been added
turing and colonial prosperity, the enterprising character of
every year. This justifies the expectation that a steady in­
the English people, the natural productions (<5oal and iron)
crease o f production may be looked for. The importance of
of the country, and its favorable situation. Japan we have
that, product will be all the greater if electric power shall
already found has a similarity in the geographical position.
ever replace steam power. Thus Japan’s superiority as
Aa to character, we may not expect as much from the
concerns this metal may be regarded as offsetting her dis­
Japanese as from the English, but it is safe to say that the
advantage in iron.
former is the most enterprising o f all the Eastern races.
Finally, as to the natural productions, Japan lacks one most
S t o c k E x c h a n g e C l e a r i n g - H o u s e T r a n s a c t i o n s . — The
important thing, namely iron, upon which English manu­
subjoined statement includes the transactions o f the Stock
facturing supremacy is largely based.
Exchange Clearing-House from June 1 down to and includ­
In 1890 Japan produced 23,078 tons of raw iron (R. S., pp. ing Friday, June 12: also the aggregates for January to May,
26-37), while England produced 4,848,748 tons (p. 92, Vol. inclusive, in 1886 and 1895.
LX XX.). In the same year Japan imported raw iron to the
STOCK EXCHANGE CLEARING HOUSB TRANSACTIONS.
-Balances, one Sideamount o f 8,368,016 yens, and various machines to the
.— Shares, both sides.Sheets
Shares. Value Shares. Cash. Cleared
amount of of 9,813,481 yens, making a total of 13,181,448 1S9S— Cleared. Total Value,
$
$
*
1.091.000
03.700.000 1,483,100
0,434
oa rr... 18.593.400
890,200,000
yens (R. 8.. p. 86-88). In 1893 the English iron rod lan
997,500
55,000,000 1,133,600
6,515
February.. 12,030.000
702,11X1,000
1.493.000
85,400,000 1,920,400
0,540
Marco....... 10,057,700 1.207.600,000
was sold in Tokio at 88 sens (12c.) per kwan (8 lbs,), April.........
1,710,600
94,500,000 1*899,300
0,434
15,790,200 1,001.800,000
underselling the native iron by 60 per cent (R. S. p., May........... 28.220,100 1.603,100,000 8,151,900 162,900,000 2,157,200 7,391
8,441.500
402,500,000
8.099,500
32,314
5 m o s .... 88,701,100 5,474,000,000
40\ A ll these facts show the Japanese iron mines to be at
* Balances, one side.—— vSheets
-— Shares, Doth sides.—»
a decided disadvantage. Hence Japan must always rely
Cleared. Total Value. Shares. Value Shores. Cash. Cleared$
$
9
largely upon other countries for her tools, machinery and 1 8 9 «™
1,014,300
88.400.000 1,445,000
6,870.
_15.208,500
...........
907,700,000
Ian nary,
ammunition. Here, then, is the opportunity for the Amer­ ?ebraary. 17,004,900 1,008,000,000 1.905.500 100,300,000 1,304,400 0,261
91.000. 000 1,452,800 0,811
1.031.500
Viaroii....... 10,076,000 1,066,000,000
ican iron factory to seek its market in Japan.
99.000. 000 1,283,300 0,468
1,089,100
H 002,200
984,000.000
April.,.
1, 122,000
09.100.000
923,800
5,732.
760,800,000
‘ ........... .
May.
10,291,000
Turning to the production o f coal, which is another
8,963.300
404
400,000 0,419,300
33,148
5 m o s ,,. 73,932,200 4,887,700,000
element of English manufacturing supremacy, we find J’ ne 1 .. 343,400 26,700,000
38,100 2,600,000 33,100
241
31,000 2,100,COO 19,200
236
Japan again to be far behind. In 1890 Japan produced
“
2 .. 328,000 24,600,000
58,200 3,100,000 44,900
268
“
3 .. 510,800 34,200,000
2.623,937 tons of coal (R. S., p. 26-27), while England pro­
273
44,200 2,500,000 35,200
"
4 .. 436,600 31,900,000
49,100 2,700.000 32,600
251
“
5 .. 405,400 26,600,000
duced 181,614,288 toss, showing the proportion of l -3 to 90.
But we must remember the fact that there are many coal Tot. w k.. 2,024.000 141,000,000 221,500 13,000,000 107,000 1,269
mines in Japan which are not yet touched, owing to the Wklastyx3,277,600 183,900,000 421,600 20,700,000 258,500 1.53Z
287
(55,700 4.300.000 58,000
small demand. According to the statistics of 1888 there J ’ne 8 . 627,300 51.900.000
246
45,900 2.600.000 -29,600
“
9 ,. 350,800 23.400.000
were 912 private coal mines, covering 7,786,918 tsubos (tsub
282
" l o , . 349,600 25.300.000
42,700 2.400.000 39,500
326
“ 11 1,051,400 65,2)0,000 117,500 5.400.000 80,800
->-6x6 feet.) Those which belong to the Government are
75,700 4.400.000 63,300
298
“ 1 2 .. 660,700 47,000,0 0
not counted here. How many more have been opened
Tot. wit. 3.039,300 2 1 2 ,8 0 0 , 0 0 0 347,500 19,100,000 276,2*0 1,439
since and how many more are likely to be hereafter we have ^ k la sty H ,642,800 301,000,000 530,100 30,000,000 354,600 1,639
not the data from which to form an opinion. There are
The stocks cleared now are American Cotton Oil common,
abundant resources of coal in the islands o f Kiushiu and American Sugar common, American Tobacco common, Atch­
Hokkaido, which both together cover one-third of the total ison, Central of N, J., Chesapeake 8c Ohio, Chicago Burlington
area of Japan. When I was connected with the Poronai & Quincy, Chicago Gas, Chicago Milwaukee & St. Paul com­
mon, Chicago & North Western common, Chicago Rock Island
Coal Mine & Railway Company about seven years ago, I iSc Pacific, Delaware & Hudson, Delaware Lackawanna Sc
learnt, the fact that the expense of acquiring one ton of the Western, Distilling & Cattle Feeding, General Electric, Lake
hard coal was about two yens, or one dollar in American c»in. Shore 8c Michigan Southern, Louisville & Nashville, Manhat-

THE CHRONICLE.

1072

t a n , M issou ri K a n sa s & T e x a s p r e fe r r e d , M isso u ri P a c ific , N e w
Y o r k C e n tr a l, N e w Y o r k L a k e E rie & W e s t e r n , N e w Y o r k &
N e w E n g la n d . N e w Y o r k O n ta r io & W e s t e r n , N e w Y o r k S u s ­
q u e h a n n a & W e s te r n p r e f e r r e d , N o r th e r n P a c i fi c p r e fe r r e d ,
N a tio n a l L e a d c o m m o n , P h ila d e lp h ia & R e a d in g , S o u t h e r n
R a ilw a y c o m m o n a n d p r e f e r r e t ', T e n n e sse e C o a l & I r o n , T e x a s
So P a c ific , U n io n P a c ific , U n it e d S ta te s L e a t h e r c o m m o n a n d
p r e fe r r e d , U n it e d S ta te s R u b b e r c o m m o n , W a b a s h c o m m o n
a n d p r e fe r r e d , W e s te r n U n io n a n d W h e e lin g & L a k e E r ie
com m on .

[VOL, LXU,

t h a t D r. P e lle g r in i w ill n o t o p p o s e in th e p re s e n t se ssion , a n d ,
i f so, it is t h o u g h t c e r t a in

th a t th e m e a s u r e w ill b e p a ssed .

W h e t h e r it w ill b e id e n t ic a l w it h th e fo r m e r b ill is n o t k n o w n .
That

b ill

p rop osed

to

c o n s o lid a t e

N a t io n a l G o v e r n m e n t in t o

one

[F rom our ow n oorrespondeut.l
L o n d o n , S a t u r d a y , M a y 30, 1890.
T h e C o r o n a t io n o f th e C z a r, w i t h th e a t te n d a n t fe t e s , h a s o c ­

th e

lo a n s

stock

and

of

th e

to t a k e

o v e r th e d e b ts o f th e p r o v in c e s ; issu in g , in s te a d o f th e p r o ­
v in c ia l b o n d s , a p o r t io n

of

th e n e w

u n ifie d s t o c k .

I t is

sa id th a t th e ra te o f in te r e s t w ill b e 4 p e r c e n t a n d th a t th e
d iffe r e n t p r o v in c e s w ill be d e a lt w it h

ptottielarg gSo m m e r c in l% u Q lis U $ $ ,e x o g

a ll

u n ifie d

a c c o r d in g t o t h e ir r e ­

s o u r c e s : in so m e ca ses o n ly a b o u t 50 p e r c e n t o f th e e x is t in g
d e b t w ill b e a c k n o w le d g e d , in o t h e r c a s e s a s m u c h as 75 p e r
p e n t.

In B r itis h R a ilw a y s to c k s th e r e h a s a lso b e e n a v e r y

r e m a r k a b le rise.

T r a d e is u n d o u b t e d ly g o o d , a n d e v e r y t h in g

p o in t s to fu r t h e r im p r o v e m e n t .

M o n e y is e x c e e d in g ly c h e a p ,

c u p ie d p u b lic a t te n tio n a ll o v e r E u r o p e to a v e r y g r e a t e x t e n t

a n d th e p u b lic is as y e t u n w illin g t o in v e s t o n th e o ld

d u r in g t h e w e e k , a n d p e o p le a r e n o w

w id e sca le . C o n s e q u e n tly , g o o d B r itis h R a ilw a y s t o c k s a r e
n o w b e in g c a p ita liz e d a t a b o u t 3 p e r c e n t .

b e g in n in g

to s p e c u la te

a s t o w h a t w ill b e th e fu t u r e p o l i c y o f th e R u ss ia n G o v e r n ­
m en t.

W i l l it c o n t in u e

th a t o f th e

la te C z a r — r e c u p e r a ­

T h e ra te s f o r m o n e y h a v e b e e n a s f o l l o w s :

t i o n a t h o m e a n d p e a c e a b r o a d — o r w ill it p lu n g e in t o a d v e n ­
tu res ?

T h e in s u r r e c t io n i n

I t is s c a r c e ly l i k e l y

o t h e r g r e a t P o w e r w i l l in te r fe r e .

th a t a n y

U p t o th e p re s e n t, in d e e d ,

•the in flu e n c e o f t h e g r e a t P o w e r s h a s b e e n s u ffic ie n t t o
-v e n t

G reece fr o m

in t e r v e n in g ; bu t if

R u ss ia

p re-

en cou ra ges

G r e e c e , it is n o t p r o b a b le t h a t a n y o t h e r P o w e r w i l l r e sist.
T h e g e n e r a l im p r e s s io n , h o w e v e r , is t h a t R u ss ia w ill a c t c o r ­
d ia lly w i t h th e o t h e r P o w e r s i n r e s tr a in in g G r e e c e a n d p r e ­
v e n t in g d is tu r b in g in c id e n t s .

I f th e P o w e r s a re i n

d e fia n c e

•of th e fle e ts o f th e P o w e r s .
T h e g r o w i n g c o n v i c t i o n th a t M r. M c K in le y w i l l b e n o m i ­
n a t e d b y th e R e p u b lic a n C o n v e n tio n , w i t h th e t e r r ib le d isa s­
te r in S t. L o u is , h a s g r e a ly d e p re sse d th e A m e r i c a n
m en t.

I n th e T r a n s v a a l, th e fin a l d e c is io n

p e o p le e x p e c t e d , a n d has m a d e a v e r y b a d

lo n g e r

th e
th a n

im p r e s s io n .

On

t h e o t h e r h a n d , th e v o t e o f th e C a p e P a r lia m e n t r e je c t i n g
a

m o t io n

f o r th e a b r o g a t io n o f th e

C h a rte r e d

C om p an y’s

•Charter se e m s t o in d ic a t e a r e a c t io n in f a v o r o f M r. R h o d e s
a m o n g s t t h e A fr i c a n d e r p o p u la t io n ,

London.

B a n k B ills.

Trade B ills.

D isc't IP »e
J o in t
A t 7 to 14
S ix
Three
Three
F ou r
F ou r
Stock
§
S ix
W Months Months M onths M onths M onths M onths Banks. Call. D ays.

May
12
“
8 2
** 15 2
**
22 2
“
29 2

% 15-10 m ® m
H
m
B4
x
H 13-10 H 13-16 H 13-10 H 13-10
1
1H
15-10
15-10
15-10
VA 1 « @ 1 R 1X @ 1H
13-10
13-10
18-10
l * 1W@139
m
13-10
13-10
13-10
1@G9 U4
114

%
14
14
14
14

14
14
14
14
14

14
14
14
14
14

T h e B a n k r a t e o f d is c o u n t a n d o p e n m a r k e t r a t e s a t th e
c h ie f C o n t in e n ta l c it ie s h a v e b e e n as f o l l o w s :
M ay 29.
Rates of
Interest at

d ep a rt­

r e s p e c t in g

P r e t o r ia p ris o n e r s h a s b e e n p o s tp o n e d m u c h

d-»

ea rn est,

t h e y c a n v e r y e a s ily c o m p e l t h e S u lt a n t o g r a n t a ll n e c e s s a r y
r e fo r m s in C r e te , f o r h e c a n n o t la n d t r o o p s th e r e in

In terest allowed
fo r deposits by

Open M arket R a tes.

C r e te w ill v e r y s o o n e n a b le u s

rail t o ju d g e o n th ese p o in ts .

w o r ld ­

a n d th e s u c c e s s o f th e

Paris.................
Berlin................
H am burg.........
Frankfort.. ..
Amsterdam___
Brussels....
Vienna ........
St. Petersburg.
Madrid.......
Copenhagen.

M ay 22.

Bank
Open
R a t s . M arket
2
3
3
3
3
3
4
614
414
3

m
m
294
239
2K
214
3M
614
414
3

Bank
Opsn
R a ts. Market
2
3
3
3
3
3
4

i%
294
2M
2J4
2 s*
2
394
6*
414
3

614
414
3

M ay 8.

M a y 15.
Bank
Open
B a t .. Marks
2
3
3
3
3
3
4
614
414
8

m
294
29*
2M
294
214
314
814
414
3

Ba nk
R a ts.
2
3
3
3
3
3
4
614
414
3

Op#n
Market
194
294
294
3
254
214
394
614
414
3

C h a r t e r e d C o m p a n y ’s fo r c e s a g a in s t th e M a ta b e le le a d s t o th e
h o p e t h a t t h e r is in g n o w w i l l be v e r y s p e e d ily su p p r e sse d .
M o n e y h a s c o n t in u e d in f a ir ly g o o d d e m a n d d u r in g th e w e e k ,
o w in g to

th e S t o c k E x c h a n g e s e ttle m e n t, th e n e a r a p p r o a c h

o f th e e n d o f t h e m o n t h a n d t h e c o h t in u e d l o c k -u p o f th e J a p ­
a n e s e m o n e y in th e B a n k o f E n g la n d ; b u t as t h e w e e k d r a w s
t o a c lo s e r a te s a re d e c lin in g a n d th e r e is a s t r o n g p r o b a b ilit y
t h a t t h e y w i l l d e c lin e fu r t h e r n e x t w e e k .
s p e c u la tio n , e ith e r u p o n

T h e r e is v e r y little

th e S t o c k E x c h a n g e

o r in tra d e ,

w h ile g o ld is c o m i n g f r o m a b r o a d in v e r y la r g e a m o u n ts , a n d
th e s h ip m e n ts f r o m

N ew Y ork

le a d t o t h e b e l i e f t h a t th e

C o n t in e n t w ill b e s u p p lie d w i t h a ll it r e q u ir e s w it h o u t d r a w ­
i n g u p o n th is m a r k e t.
T h ere h a s b e e n f a i r l y g o o d b u y in g o f s ilv e r f o r th e C o n ­
t in e n t , a n d th e p r ic e is flu c t u a t in g a r o u n d t ille d , p e r o u n c e .
T h e I n d ia C o u n c il c o n t in u e s t o s e ll its d r a ft s w o n d e r fu lly
w e ll.

T h e fo l l o w i n g r e tu r n s h o w s t h e p o s it io n o f t h e B a n k o f
E n g la n d , t h e B a n k r a te o f d is c o u n t , t h e p r ic e o f c o n s o ls , 8 o c .’
c o m p a r e d w it h th e la s t th r e e y e a r s ;
1893.
1890.
1895.
1894.
M ay 81.
M ay 27.
May 29.
M ay 30.
£
£
£
S
26,904,430
Cireulation.................................
25,840,215
24,914,970
25,900,930
7,198,534
15,225,694
9,235,124
8,785,644
Public deposits.............................
30,312,685
35,533,149
Other d e p o s its ............. ............. 48,791,964
31,584.451
9,894.422
11,208,101
15,200,785
Government securities....... .
13,004,606
28.470,97 4
20,441,443
20,298,471
Other securities.............................. 23,514,322
15,647,318
27,927,910
28,460,101
Reserve o f notes and coin........... 38.064,013
30,042,880
20,101,748
37,500,376
Ooln & bullion, both departm’ts 47.225,543
59 5-16
Prop.reserve to liabilities., p.c.
6399
63>4
4
2
2
2
Bank rate........................ per cent.
99 5-10
112 13-10
Oonsols, 29* per c e n t ....... .
101K
10039
37&d.
28 5-l6d.
Silver...................................................
81J*d.
*30 ll-10d .
Clearing-House returns.............. 105,810,000 107,020,000 123,082,000 139,787,000
♦M ay 30.

M essrs. P ix le y & A b e ll w r it e as f o l l o w s u n d e r d a te o f
M a y 28 ;
Gold.—The demand fo r gold has entirely ceased and som e bars have
a l l t h r o u g h th e w e e k , p a r t ly b e c a u s e o f th e S t. L o u is to r n a d o
reached the Bank. The total purchased during the w eek by the Bank
a n d p a r t ly b e c a u s e o f th e b e lie f th a t M r. M c K in le y w i l l b e reaches £203,000, o f w hich the greater part is in sovereigns from
Australia, There are no withdrawals to report. A rrivals: Australia.
n o m in a t e d a n d e le c te d , t h a t th e r e w i l l b e a n e w t a r i ff b ill, £134,000; B iver Plate. £ 7 8 .0 0 0 ; New Y ork, £4 ,000 ; Capetown, £105,a n d t h a t p o s s ib ly th e r e m a y b e u n w is e c u r r e n c y le g is la tio n . 000; Colon, £27,000; West Indies, £3 1,00 0. Total, £379,000. Ship­
ments to Bom bay, £17,500.
I n t e r -b o u r s e s e c u r it ie s a re f a i r l y w e ll s u p p o r te d , t h o u g h th ere
Silver.—F or several days there was no m ovem ent, but under pres­
sure o f orders, said to be fo r the Continent, theprioe hardened slightly.
i s n o t m u c h d o in g . T h e e x c e p t io n is F r e n c h r e n te s a n d so m e The
m arket was further strengthened by requirem ents in connection
o t h e r h ig h -c la s s F r e n c h s e c u r itie s . T h e n e w F r e n c h G o v e r n ­ with French coinage, and there is now little on offer. Arrivals; New
Y ork, £178,000; West Indies. £30,000. T otal, £208,000. Shipments:
m e n t h a s d e c id e d u p o n p r o p o s in g a t a x o f 4 % p e r c e n t u p o n Bombay, £7,500; Calcutta, £5 ,000 ; Japan, £3 0,00 0. Total, £42,500.
M exican D ollars.—There have been no arrivals o f these coin,an d the
r e n te s . T h is h a s b e e n e x p e c t e d f o r s o m e t im e p a st a n d h a s
prloe is nominal. Shipments to H on g K ong, £30,476.
l e d t o h e a v y s e llin g o f r e n te s. W h e t h e r t h e b ill c a n b e c a r ­
T h e q u o ta tio n s f o r b u llio n a r e r e p o r t e d as f o l l o w s ;
r ie d t h r o u g h th e C h a m b e r s is c o n s id e r e d d o u b t fu l, b u t at all
T h e A m e r ic a n m a r k e t, as a lr e a d y s ta te d , h a s b e e n d e p re sse d

e v e n t s it h a s m a d e a b a d im p r e s s io n u p o n in v e s t o r s g e n e r a lly .
S o u t h A f r i c a n s e c u r ilie s a r e n e g le c t e d , b u t th e r e h a s b e e n a
la r g e bu sin e ss d o n e in W e s te r n A u s t r a lia n sh a re s a n d th e
p r ic e s o f n e a r ly all h a v e c o n s id e r a b ly r ise n .
.b e e n s o m e a c t iv it y i n N e w Z e a la n d sh ares.

T h e r e h a s a lso

T h e m c s t a c t iv e m a r k e ts, h o w e v e r , h a v e b e e n th o se f o r
B r it is h r a ilw a y B tocks a n d f o r A r g e n t in e se c u r itie s o f a ll
k in d s . I t is b e lie v e d h e re th a t th e b ill f o r u n i f y i n g th e A r g e n ­
t in e d e b t w i l l b e c a r r ie d i n th e p re s e n t se ssio n .

GOLD.
L on d on Standard.
Bar gold, fln e....oz
Bar gold, parting.oz
8panish Old.........oz.
Do.
New — oz.
D .8 . gold coin....oz
German gold coin.oz
French sold coin.oz

May 28. M ay 21.
s.
77
77
70
70
70
70
76

d.
9
9>9
0
2
m
3M
3Va

SILVER
L on don Standard.

9. d.
77 8 H Bar silver, flne..oz
77 931, Bar silver, contain76 0
ing 5 grs. goid.oz.
76
Cake silver..........oz
70 331! Mexloan dollars.oz.
70 3M
70 3Wl

2

M ay 28. M ay 21.
d
s in
3139

d.
311-16
31 7-16

33 11-10
3039

33^
3039

I t w ill be

T h e f o l l o w i n g s h o w s t h e im p o r ts o f c e r e a l p r o d u c e i n t o t h e

r e c o lle c t e d th a t th e b ill w a s d e fe a t e d la st se ssio n in th e S e n ­

U n ite d K in g d o m d u r in g th e first t h ir t y -e ig h t w e e k s o f th e

ate.

se a s o n , c o m p a r e d w it h p r e v io u s se a s o n s :

I t is sta te d n o w , o n w h a t a p p e a r s t o b e g o o d a u th o r ity ,

THE CHRONICLE,

J une 13, 1896.]
IM P O R T S.

1892-93.
1895-96.
1894-95.
1893-94,
Im ports o f w b e a te w t; 47,909.170 50,940,366 43.863,585 43.413,662
B ariev.......................... lT.4ii0.760 19,838,544 24,649,497
13,169.671
9,392.921
Oats. 1.......................... 9,831,680 10,167,217
9,363,610
Pea*....... ............
1,951,930
1,761,589
1.858,550
1,620.963
3,207,137
Beans........................... 2,570.032
3,283,2 tC
3,912,253
Indian c o r n . . . , ........ 32,677,370 1 8 .5 1 6 .9 U 25,125,805
22.139,206
F lour.......................... 15,299,720 14,393,700 14,122,510 15,405,776

I mports a n d K x p o r t s f o r th e W e e k . — The following are
the imports at New York for the week ending for dry goods
June 4 and for the week ending for general merchandise
June 5; also totals since the beginning of the first week
in January.
F O R E IG N IM P O S T S AT N E W «- - -

For Week.

1893.

Supplies available for consumption (exclusive of stocks on
September 1):

D.-y Goods.......
Gen’l mer’dlse.

1895-96.
1894-95.
1893-94.
1892-93
Wheat tra p o rte d , cw t. 17,«< 9,370 50,948,368 43,668,535 43,413,662
Im ports of floor....... 15,299.720 14,393,700 14,122,510 15,405.776
Balenot hom e-krow n.12,193,4*1 16,753,951 17,733,945 20,953,568

Dry G oods.......
Gen’l m er’dlse.

Total.................... 75,102,571 32,094,017 75,525,040 79,773,006
1892-931395-96,
1894-95,
1893-91.
27a. Od.
61, 22a. 10.1.
24s. 54.
26a. 84.
Average price.season. .25a. Id.
20s. 04,
25s. 101.
Aver, price wheat week.25».

The following shows the quantities o f wheat, flour a n d
maize afloat to the United Kingdom :
Tkitweek.
■Wheat.................. ora. 2,211,000
Hour, equal to qra.
219.090
Mai**................. qta.
610,000
K u r il.!, 6 1 n * n c la l

bast week.
2,166,000
289,000
570,000

1895
3,597,000
271,000
810,009

1894.
3,760,000
312,000
585,090

T a r H e M -P e r C a b le .

The daily closing quotations for securities. &e,, at London
are reported by cable as follows for the week ending June 19,
London.

Sat.

Silver, per os____ „ ..< t
Consol*, new, 24* p. eta.
For account................
Fr’ eh rentes (in Paris! fr.
Ateh. Top. A 8, Fe........
Canadian Pacino........ .
Chesapeake A Ohio......
Chic. MUw. a St. Panl .
Den v. A R io Grande, nfd
Erie.................................
do
l i t preferred.
Illinois Central............
Lake Shore...............
Louisville A Nashville..
Mexican Central 4s.......
Mo. Kan. A Tex. com....
W, Y. Central A Hudson
N. Y. Out. A Western...
Norfolk A West'n, pref.
Northern P addc, pref..
Pennsylvania.............
Phil. A Read,, per share
Southern Ky., oom . . . . . .
do
prel'd............
Union Paeino........ ........
Wabaab, pref— ............

31%
1133,«
U3*ra
01-771*
ir *
64%
16%
78=8
493,
145a
3 i 78
95%
155
50%
72
n%

Mon.

Toe*.

31aie
U 3 ii„
1133,,
101*35
15»s
633s
16
73 %
49
14%
343»
94%
155
50%
72
im
98%
i »%
14%
10%
10*8
15k,
15%
53-H 53%
4%
4a
o
•0 %
291*
29*4
7%
7%
17k,
17%

S is16
113
!131j«
101*75
14-a
634.
15%
78
48%
14%
31%
95%
155
507,
72
n%
98%
M'S
10%
14%
53%
1%
y%
29H
7%
17

Wed.

TKure.

3 is la 31*i»
113
113
113% U 3 L .
101-65 01-07%
14 %
im
63'*
63%
15
15%
76%
77%
47%
48*4
14%
14%
33%
34
95 >4
94
155
155
4 9 X
5,
49%
72
71%
11

11

98%
14%

10%

14

53%
4%
87,
28%
7
16%

93
14 Us
97a
14

53%
4%
8%

27%
6
1 0

%
%

Frt.
31S1S
1131,s
113%
101-65
15
63%
15%
78**
4 3 %
u%
3 5 %
95

155%
51
71%
11
97%
14%
10
14%

53%
4%
9'3
29
7 %
17%

© a tttr tx G v e ta ta m X m t s c e U a u e c r w s J $ cu js
Ooikaob by United States Mints,—The following state"
meat, kindly furnished us by the Director of the Mint, shows
the coinage at the Mints of the United States during the month
of May and for the five months of 1896.

Piece*. '
127,860
20,000
20,000

Double eagles. . . . . . .
8 » v > « .......- .............

S a if

Three dollar*— .. .
Quarter eagles........
Dollars.....................

Value.
$
2,557,200
200,000
100,000
. . . . . . . .

Total g o ld ............

167,800

............
2.857,201

Standard dollars.. .
Half d o lla r s .........
Quarter dollars.....
Dime#...........

1,500,000
397.930
510,000

1,500,coo
198,990
127,500

Total silver___ _

2,407,980

1,826,490

F ive ce n t*.............
One c e n t ............

931,000
4,499,000

46,550
44,990

Total m in o r .......

5,430,000

Totai coinage...

8,005,840

Total_____

Since Jan. X.

1894,

$1,516,991
8,670,379

1895.

1896.

$367,242
5,762,996

» 1,951,050
9,067,373

$10,217,370

$6,630,238

$11,018,423

$9,407,061

$65,753,682
218,598,069

$37,210,262
149,443,932

$65,408,637
157,54^,535

$54,632,195154,916,706

$1,249,014
8,158,047

Total 22 weeks $284,351,751 $136.659,194 $222.951,172 $209,548,901

The following is a statement of the exports (exclusive o f
specie) from the port of New York to foreign ports for th ©
week ending June 8 and from January 1 to date :
EXPORTS FROM NEW TORE FOB THE WEEK.

Forth© w eek ..
Prev. reported.

1893.

1894.

1895

$6,776,866
140,718,937

$7,628,438
152,713,236

$7,788,182
139,181,819

1896.
$7,421 ,017
157,042,006

total 22 weeks $147,495,803 $160,341,674 $146,970,001 $164,463,0 2 S

The following table shows the exports and imports of specie
at the port of New York for the week ending June 6 and
since January 1, 1898, and for the corresponding periods in
1895 and 1894:
EXPORTS AND IMPORTS OF SPECIE AT NEW TO R S.

Exports.

Bold.

Week.

Imports.

Since Jan. 1.

Great B ritain.......... .
France.......... ............
G erm a n y .................
West I n d ie s ............ .
M exico.......................
South A m erica.........
AU other countries.

$11,719,260
*704,025
5,816,313
1 ,1 0 0 ,0 0 0
15,757,725
26,200
508,853

Total 18 96......... .
Total 1895..........
Total 1894 ........

*1,834.225 $36,588,518
13,679 34,368,428
7,400,623 54,385,833

4,000

Week.

9 . ......... $11,130,033

2,771,367
15,000

*131,363 $18,235,802
24,115 20,121,778
101,129
9,216,431

Import*.

Sxports.
Since Jan. 1.

*54 3,450 $19,330,731
445,000
2,829,626
6,960
299,626

G reat B r i t a i n ..........

France--------- --------- Germany...................
West Indies..............
Mexloo....................... .
South America..........
AU other countries.
T otal 1 8 9 6 ..........
T otal 1895......... .
T o t a l 1 8 9 4 ...........

2,164,948
207,265
4,095,987
194,054
445,101
48,414

108,747
5,152
17,464

S ilver,

Week.

SinceJan. I .

Week.

SinceJan. 1

9 ...........

$7,287

99,028
485

1,500
18 32!
23,750
232

61,229
456,429485,671
44,898

$988,450 $22,566,456
938,072 14,789,003
485.780 16,451,995

*43,803
93,770
2.289

$1,035,5’ 4
718,6 ' 657,5 St

F o r e ig n T r a d e o f N e w Y o r k — M o n t h l y S t a t e m e n t .— I n

addition to the other tables given in this department, made,
up from weekly returns, we give the following figures for
Fite Months 1896.
the full months, also issued by our New York Custom House.
Piece*.
Value.
The first statement covers tile total imports and exports o f
merchandise and the Customs receipts for the eleven months
8
975,050 19.513,000 of the last two seasons.

Met]).

Denomination.

1078

20,013
64,816

200,130
324,080

"5 3 5 8

14,645

M e r c h a n d is e Movem en t
Month .

. . . . . . . .

t,066,337 20,051,855
6,000,287
760.267
1,946,267
390,287

6,000,287
380,133
486,572
39,029

9,097,128 6,906,021
2356,987
15,531,787

117,849
155,318

91,540 17,888,774

273,167

4,775,230 28,052,239 27,231,043

National Basks .—The following information regarding
national oinks is from the Treasury Department:
N A TIO N A t, B A S K S O R G A N IZ E D .

July . . . ....
August-......
September..
O ctober....
November..
December..
J a n u a ry ...
February...
M a rch ......
A p r il.... . ..
May...........
Total...

Imports.

at

Ne w Y o r k . C ustoms R e c e ipts .
a t Ne w Y o r k .

Exports.

1895-94.

1894-95.

1895-96.

*
47,012,803
43.9S4.854
41*097,882
43.975,928
39,586,301
40,320,020
44,795,519
40.931,021
42,285,571
37,018,059
35,638,091

$
42,279,325
34,282.664
32,255,912
38,516,622
33,160,339
45,618,471
40,438.020
38,838,007
45,383,835
44,766,001
40,557.236

*
25,813,459
20,485.213
20,573,806
31.775,858
20,723,271
32.108,201
33,801,742
27,377,902
30,003.815
29,920,852
29.802,918

1894-95.

1895-96.

1894-95.

S
*
*
20,338,424 10,834,765 8,175,579
29,323,417 10,299.018 8,723,355
9,750,892 9,692,000
26,397,471
27,488,080 9,299,378 8,229,310
27,630,023
7,703,431
0,789,717
28.610,146 8,819,902 7,433,102
28,889,726 10,424,875 12,818.691
23,621,575 10,077,443 9,342,288
27,804,487 9.320,014 9,798,208
23,157,980 7,584.037 8,825,022
28,003.178 7,360,059 8,101.106

403,156,040 J42.088.431 823.1S4.0471300.33l.0flS 101.280.214 95,912,027

The imports and exports of gold and silver for the eleven
months have been as follows:

5,03

Cohi-m t : i Satioial B ink o f SlqubeavlUo, Ohio. Capital,
G old M ovem en t a t N ew Y o r k .
Sil v e r —n e w Y o r k .
•f 1 -2 5 .0 0 0 , J-iSid A MansUtM, President; Jamas Gregg.
( i ;
Mo n th .
Imports.
Imports.
Exports.
Exports.
5,040—The Citizen*’ Nation d Btnlc of Tlonesta, Pennsylvania. Capi­
tal. *.v>,000. Tram in V. Collins, Preaidehi; J.O . B w m in ,
1894-95.
1894-96.
1895-96.
1895-90.
1895-90.
1895-96
Cashier.
5,041 ~ T h 1 National Bank of !T -too. Kansu*. Capital, 8 5 0 ,0 10
t
$
$
*
*
$
----------, President: W. K Li meat t.Cashier.
398,097
1,298,300 2.210.S73 11,984,591
J u ly .........
234,971 3,767,587
5,013-T ho Beaver National Bmk, Beaver, Peon. Capital, 4100,090. August...... 1,234,105 2,029.697 16,295.760 4,841,831
186,103 3,936,352H.
r.c.oDarO. P r e .i I,m l; P r .'l -rick Davidson Cashier.
522,960 10,479*509
208,754
500.240
72,000
3,324,538
5,048—The Patfison National Bank of EUiLod. Pennsylvania. Oapi- Septem ber.
898,904 1,580,195 1,031,050
82,390 3,211,938
.$5 0 ,0 0 *1, o. Patti son. President; Jerome Bottom. Vice-Presi­ October. ... 1,520,438
135,394 3,899,418
November..
180,450 1,080,875 13*082,000
235,438
dent; W in. Burton Foote, Cashier,
C O R P O R A T E E X IST E N C E E X T E N D E D ,

December
January....

2.333— Tim Union National Bin's of Soudertoti, Pennsylvania, until February..
A p ril 2 8 ,1 9 1 6 , in stea d o f A p ril 2 7 ,1 9 1 6 , as p re v io u sly r e ­
p o rte d .

March.. . ... .

M n v 8 . 1918.

M ay... . . . . . .

2.334— The Farmers' National Bank of Pennabnrg, Pennsylvania, until A pril....... .
2,337—The Citizens’ N ational Bulk of Towanda. Pennsylvania, until
d o s e o f bu sin ess J u n e 1 ,1 9 1 6 ,

T o ta l...

803,868
7,217,055
9,791,490
280,107
506,757
222.9*8

197.164 14,815,095 9,023,783
798,160 10,638,473 25,216,20c
4,842,012 1,909,180 1,353,412
0,600.178
361.605 3.108,592
3,589,301 3,272,677 2,874,301
4,668,839 18,685,454 1,503,458

22,756,203 27,303,492 100,133,977 61,905,216

309.18C
090,854
076,292
733,195
784,472
798,285

4,203,944
4,800,826
*,863,868
4,209,810
4,432,010
4,513,575

4,010,404 41,252,366

THE CHRONICLE.

1074
B r e a d s tu ff*

F ig u r e s

U r o u ifU t F r o m

Page

1 1 0 5 . — The

statements below are prepared by us from the figures of the*
New York Produce Exchange. We first give the receipts at
Western lake and river ports, arranged so as to present the
comparative movement for the week ending June 6, 1996>
and since August 1, for each of the last three years:
R eceipts at—
Chicago.........
M ilwaukee..
D u lu th .........
Minneapolis.
D etroit.........
Cleveland...
St.. Louis.......
Peoria.........
Kansas City.
Tot.w k/90.
game wk,'95.
Same wk,’04.
Since Aug. 1.
1895-96 . . . .
1894-95 . .. .
1893-94 . . . .

W heat.

F lour.

B arley.

Oats.

C om .

X v t.

B b U .im b * Bush.G0 lbs B u sh M lbs Bush.32 lbs BushAS lb B U M lb .
391,550
19,200
3,107,168
2,209,812
02,350
58.048
221,000
24,000
542,000
137,150
91,000
48,300
07.929
100,627
293,853
1,075,205
91,815
450,200
201,520
1,153,540
4,402
98H
26,900
1,800
20,000
1,800
25,112
13,842
52,014
8,950
29,273
11,948
1,021
21,539
285,445
1,500
1.584
30,955
287.660
08,610
4,209
1,200
5.830
15,600
255,950
347,400
7,479
250,354
240,571
434,013

2,575,921
1429.93S
1,400,392

3,196.804
2.060,335
2,262,027

5,083,251
2,315,220
2,123,183

723,083
101,3Jl
70,320

113,918
34,017
50,432

9,374,131 185,470,022 105,728,420 129,423.705 37,218,176 3.686,976
10,731,944 130,959,947 73,494,694 85,917.690 30,942,422 2,493,069
11,972,727 141,127,499 139,075,298 108.984.378 28,213.038 3,252.703

The receipts of flour and grain ac the seaboard ports for
week ended June 6, 1896, follow:

Total week........
Week 1895____. . . . .

Corn
bush.
384,550
70.-97
30,648
51.838
330.922
23,230
15,249

Flour,
W heat,
bbls.
bush.
74,983 1,172.635
32,302
472.521
33,oi8
433,030
45.650
100,611
65.079
7,373
1,800
21,000
0,610
_______

R eceipts a t —
New York..................
Boston........................
Montreal....................
Philadelphia............
Baltimore...................
Richmond.....................
New O r le a n s .:.......

Oats,
bush.
1,800.000
128,397
00.538
94.508
132,793
5,030
30,955

200.878 2,210,100
902,324 2,058,818
350,195
484,648 1,004,280 * 980,855

th

e

Bariev
bush.
111.950

Rn*.
*>iii *
59,850
4<\827
18,410
25,212
.................................
28,742
.............
130,330
1,875

154.631
201

The total receipts at ports named in last table from Jan. 1
to June 6 compare as follrv.v for four years:
1898.
5,810,173

1895.
8,983,785

1894.
8,770,611

W h e a t................ bush. 17,227,723
C orn .......................
"
38,140.303
O a t s ........................ “ 23.101,173
Barley.................... “
3,834.191
Rye.........................
“
973,804

11,267,299
10,831,027
15.692,509
1,602,834
188.330

12,038,028
29,049,625
14.895,385
1.70S.92J
110,407

24,977,011
21,147,278
18,163,744
2,553,320
574,009

47,462,005

57,882,274

67,415,308

l lt e t iv t t Of—
Flour...................... bbls.

Total Krala ........... 81,270,557

1H«S
7,744,571

The exports from the several seaboard ports for the week
ending June 6, 1896, are shown in the annexed statement:
E x p orts fro m —
New York..............

W h eat,
brish.

Baltimore...............
Newport News . ..
Montreal................
Total w e e k ......
Same
time
1895...
u
u iu u u
.iu o a
u v v i...!

Oorn,
bush.
1,012,803
102,114
3.0J0
49,714
243,929
112,805
231,605
2,462
143,193
1,901,625

i u i .uvo

1,178.161
1
,1 1 0 ,1 0 1

F lour
bbls.
66,757
35,034
4,241
27,400
33,036
2,777

Oats,
bush.
715,382
64,407

15,474
8,240

230,000
9,653

R ye,
bush.
93,270

70.000
60.000
58,305

193,019 1,297,812
1U / , O b »
>6,tiOU
167,892
2,480

Peas.
bush.
1,370

87,040

30,699
93,270
........

119,109
d.iiOJL
3.231

The destination of these exports for the week and since
Sept. 1,1895, is as below. W e add the totals for the corres­
ponding periods of last year for comparison:
-----------Flour.----------x .----------W heat.--------- , .------------Corn.----------E xp orts fo r
W e ik
Since Sept.
W eek
Since Sept.
W eek 8 in ce Sept.
vteek and since J * n s 8.
1 ,1695.
June 6.
L, 1895.
J u n e 0.
1, 1895.
Sept. 1 to —
bbls.
bbls.
bush.
bush.
bush.
bush.
United Kingdom 137,899
0,100,939 1,402,909 24,054,916
555.753 40,212.983
Continent............
11.655
918,199
304,693
8,538.423
626,203 32,170,962
B. & C. America,.
1 2 ,147
1,109,365
18,300
1,105
527.486
W est Indies........
23.730
902,898
3,500
16.199
680.776
Brit. N. A . Coi’ 8.
3,130
274,09*1
3.000
21,000
376.591
Other countries..
5,028
123,243
108,170
99 L,953
681,305
1,635,918
T o ta l.......
193,619 9,494,748 1,875,772 34,210,703 1,901,625 75,504.71(3
Total 1894-95.
107,892 21,405,953
704,565 37.899,075 1,178,161 21,405,95,j

The visible supply of grain, comprising the stocks in granary
at the principal points of accumulation at lake and seaboard
ports, June 6. 1896, was as follows:
W heat,
I n s to re a t —
bush.
New York....... ............. 2,195.000
Do
130.000
Albany..
Buffalo . .
977.000
Do
afloat.........
Chicago .
14,2S9,bb0
Do
Milwaukee...................
497.000
Do
8,568,006
Do
afloat.........
T o leao...
260,660
Do
afloat...........
D etroit..
ios.ooo
Do
afloat...........
Oswego..
St. Louis......................
449.000
Do
137.000
Clnolnnati.....................
8,000
683.000
Toronto....................
64.000
Montreal..................
358.000
Philadelphia............. 282.000
Peoria....................
16.000
Indianapolis...........
19,000
Kansas City............. 1.004.000
Baltimore................
448.U00
Minneapolis.......
17,252.900

On Mississippi River, 100.000
On Lukes.................. 915.000
On can jl and river... 1.300.000
T >tal June 6,1890.5(114
T )lal May 30, 1890.50.34
T >talJune 9.1895 49,7i:
Total dune 9.1894.68.21
'PAto' June lo.tdoa rts.firt

Corn,
bush.
1,300,000

Oats
bush.
1,594.000
242.000

Rye,
■bush.
05,000

Barley
bush.
4.000
18,000

343.000

129,000

215.000

1,544,000

285,000

10.666

402,000

39.000

341,000

284,666

100,066

59.000

20,666

' 99,666

"10,666

‘ '1 3,666

5,000
170,000
5,072,000

10.000

"2,000

" 2,666

— T h e C o m m it te e o f B o n d h o ld e r s a n d S to c k h o ld e r s o f th e
O r e g o n R a ilw a y & N a v ig a t io n C o m p a n y , A lfr e d S. H e id e lb a ch , C h a irm a n , r e fe r r in g to th e sa le o f th e p r o p e r ty o f th e
a b o v e c o m p a n y , a d v e r t is e d t o t a k e p la c e o n J u ly 9 n e x t , n o ­
tifie s b o n d a n d s t o c k h o ld e r s th a t fu r t h e r d e p o s it s o f se c u r itie s
u n d e r th e p la n o f r e o r g a n iz a tio n w ill lie r e c e iv e d u p o n th e
p a y m e n t o f a p e n a lt y o f S50 p e r b o n d a n d $1 p er sh a r e o f
s t o c k in a d d itio n to th e a ssessm en t o f sa id s t o c k o f §6 p e r
sh a re, u p t o a n d in c lu d in g J u ly 7, 1896, a fte r w h ic h d a te th e
c o m m it t e e w ill be u n a b le t o r e c e iv e a n y b o n d s o r s to c k .
— T h e e x e c u t iv e r e o r g a n iz a tio n c o m m it t e e o f th e N o r fo lk &
W e s te r n R a ilr o a d C o. a n n o u n c e s th a t o v e r 9 7 % p e r c e n t o f a ll
th e d is tu r b e d b o n d s o f a ll cla sses a n d o v e r 87 p e r c e n t o f th e
s to c k s o f t h e N o r fo lk & W e s t e r n R a ilr o a d C o . h a v in g b een
d e p o s it e d u n d e r th e p la n , fu r t h e r d e p o s its w i l l n o t b e r e c e iv e d
a fte r J u n e 15, e x c e p t in th e d is c r e t io n o f th e c o m m it t e e a n d
o n s u ch t e r m s as it m a y im p o s e .
— S ev era l issu es o f g u a r a n t e e d s t o c k s , e x e m p t f r o m t a x a ­
t io n , a re o ffe r e d f o r sa le b y R e d m o n d , K e r r & C o. o n p a g e 8
o f o u r a d v e r t is in g d e p a r tm e n t.

City R ailroad Securities—Brokers’ Quotations,

86.000

' 70,000
05.000

1,001,000

90.000
97.000
1.325.000

110.000

9.807.000
8.905.000
11.5S3.000
7.514.000
8.159.000

' 57.066

*" l , 6 6 b

24.000

" 1,666

J8.000

91.000
354.000
94.000
135.000
31.6 66

252.000
070, OOn
29.0 0
1.375.000
1.078.0UO
8.315.000
8.303.000
8.74P.000
2.704.000
3.131.000

’ 6,000

ioo'.ooo

29,000

1.547.000
1.434.000
127.000
2 06.000

593.000

Bid.

D. D. E . B. & B at’y —Stk. 165
1st, gold, 5a, 193 2 .J& D 113*»
§104*3
85
S c rip ................................... §100
29
31
Eighth A venue—S to c k ... 340
110
Scrip, 0a, x 9 1 4 ................ 100
§107
42d & Gr. St- F er.—Stock 310
2334 24
50
195
42d St. M an. & S L N . A v .
190
§104*3 106*3
la t mort. 6a, 1910.M & S §115*4
2d mort. income 6a. J & J
05
§108
§112
L ex.A ve.& P av.F erry 5a. 11334
Metropolitan T r a c tio n ... 105
§104
103
Ninth Avenu e— S to c k ... 160
115*4 116
167
169
8econd Avenue—S to c k .. 160
112*3 113*s
la t mort., 5a, 1909. M&N 109*3
103
Debenture 5a, 1909. J & J 101
Sixth A ven u e—Stock___ 194
99
100
190
Third A venue—Stock . . . 1 7 4 1 9
170
112
§110
la t m ort., 5s, 1 9 3 7 . J&J 121*,
192
Tw enty-Third St.—St’ k. 312
§117
Deb. 5a, 1 9 0 3 .................. 100
98
160
U nion R y—S t o c k .............
r .0 3
114
h§
1st 5a, 194.?___ _____
11334 114
WeBt<me8fr, lw.guwSBP iU )l
155
103*

ASA
167
102
325
60
116*3
70
114
105*3
165
110
103
175
122
105
103
106
102

5 A nd aoorued interest
x fix-dividend.

Gas Securities—Brokers Quotations.
G A S C O M P A N IE S .

Aak.

Bid.

G A S C O M P A N IE S .

92
91
105*3 106*3
165
80
99*3 1 0 1
Jersey City & H oboken.. 180
110
108
240
230
N . Y. & East R iv. la t 5s.. 1 0 1
103
73
71
38
37
92
91
Consol. 5s .................
B’ klyn Union Gaa—Stock.

§ A n d accrued interest.

Bid.

A sk .

Peoples’ (Jersey C ity)___ 170
106
105

175

200

210

Bonds, 08, 1899 .............. 105*a 1 0 0 **
St. P aul.................................
61
03
80
84
108
110
79**
78
Common"................. . ..
05
90

02

* E x rights.

Auction Sfllos.—Among other securities the following not
regularly dealt in at the Board, were recently sold at auction .
By Messrs. R . V . Harnett & C o.:
130,000 Gloster Mining Co., (Montana) $5 ea ch ............................. $1,000

By Messrs. Adrian H, Muller & Son:
Shares.

Shares.

100 Am. W altham Watch C o .130
7 Chatham Nat. B an k....... 300
621 B rooklyn City RR. C o ... 166
5 Title Guar. <fc Trust < O...300
100 Internal. Goodyear Shoe
5 Ainer. E x. Nat. B a n k . . . . ! ^ 3*
Machine Co ... $10 50 per sli.
Bonds.
14 W ashington Life In s.C o.162
$5,000 A tlantic Mutual Ins.
28 Stuyvesant ins. C o........ 80
Co. scrip o f 1892................ 102*4
45 E quitable Trust Co., New
$1,000 Brooklyn R apid Tran­
London, Conn .........$20 lot.
sit Co. 5s, 1945, A .& O ..
78
18 Swarthmore Col’g e $ l 50 p. sh. $5,000 Kingston W ater Co.
230 M apes-Reeves Const. Co. 2
1st 6s, 1903, M.&N. May
V5 Frankliu Tr. Co., B’ klyD.220 , 1, 1896, coup, in default at25 People’s Tr. Co., B’klyn .220*2 I tached to b on d s.....................110*4
5 Im portero’ <fc Traders’
I $27,000 R etsof Mining Co.
Nat. Bank.............. ....... 534*2 | 1st 5s, 1925, J .& J ................ 21

ganking and financial.
Spencer Trask & Co.,
BANKERS,
27 A 29 P IN E S T R E E T ,
65 State Street, Albany,

INVESTM ENT
S a m u e l

10,066

D .

21,006

NEW

FORK.

SECURITIES.
D a v is

&

C o .,

B A N K E R S ,

03,000

N O . 4 0 W I L L S T ., N E W Y O R K .

2,060

‘ 29.666
28,1)00
81,000

Aak.

Bid.
A tlan. A v e ., B ’klyn —
Con. 58, g., 1 9 3 1 ..A & O
Im p t. 5s, g., 1 934 .. J&J
Bleek. S t. & F u l.F .—Stk.
1st m ort.. 7a, 1900 . J&J
Brooklyn Rapid Transit.
B’ w ay& 7th A v e.—Stock.
la t m ort., 5 a ,190 4 . J&D
2d m ort., 5 b, 1 9 1 4 .J&J
B’ way 18t, 5a, guar. 1924
2d 5a,int.a8 rent’ ! . 1905
Consol. 5 8 ,1 9 4 3 ...J & D
Brooklyn City—S to c k ....
Consol. 5s, 1 9 4 x ...J & J
B klyn.Crosst’ n 53.1908
B kl’n .Q ’naCo. & Sub. 1 st
B klyn.C .& N ’ wt’ w n—Stk
5a, 1939 ............................
Central Croaatown—Stk .
1st M ., 6s, 1 9 2 2 ...M & N
Cen.Pk. N .& E .R iv .—Stk.
Conaol. 7a, 1 9 0 2 ...J & D
Columbus & 9th A v e. 5a.
Chriat’p’r&lOth St.—Stk.
la t m ort.,2898 ...A & O

15.666

145.000
93.000
3.000
91.000
3.000
43.000

[Vol. LXII.

Sam u el D . D a v is .
’ 2 1 , 60V,

Geo rg e B a r c l a y Mo f f a t .

iVo’ 000
98,000
802.000
837.000
91.000
87.000
370.000

Oh a s . B . V a n N o s t b a n d ,

M

o

f

f

a

A l e x a n d e r M.

&

t

W

h

i

t

e

w h it e .

Jr

,

BANKERS
30

F I N E

S T R E E T ,

-

INVESTM ENT

-

N E W

S E C U R IT IE S .

Y O R K

THE •CHRONICLE.

j0 S E 13, 1S86.J

1075

Posted rates of leading bankers are as follows:

g lu e j a n k e r s ’ ( l a y e t t e .

I Sixty Days. | Demand.

June 12.
D IV ID E N D S .
Xcme of Company,

' Per ' When :
j Cent, Payable.

B o o k s clo s e d .

R a ilr o a d s .
Belfast Sc Mooseliead Hake, com . $1*5G ) June
to
do
do
pref. . I£3
5
Chic. & E. Illinois, uref. (quar.).! 1 % July
liJune 18 to June21
20
Aug-.
1
to
Ausj. 2 0
CMs, St. P. Miu. .<&O., p ref........
3 ^ Ails'.
1 June 13 to July 1
Manhattati (qa&r.)- . . . . . . . . ....... j 1% July
j June 16 to July 15
New York A: Harlem.......... .........
4
July
Northern of N. H. (qu a r.)..........
I 1*’ \ July
1 -------_
to ----------do
do
(extra).......— i 2 5
B ank*,
Fifth Aveatie (qmar.)............. ...... « 20 \ July
1 June 25 to June 30
do
do (extra)......... ........
5 s
T r u s t C o m p a tties.
July
1 June 20 to July 1
K b iekerhocker........ . . . . . . . . . . . . .
3
HXl»e e ila n e o u * .
American Bell Telepb. (qaar»>...
3 ) July 15 July 1 to July 11
do
do
(• xtra). „. j 1% 5
American Sugar, com. cqaar.)...; 3 >
do
do
pref- (qaar.)--1% '> July
2 June 16 to July 2
do
do
pref.
3*a>
R jf, A Un. Stk. Yds., com.
4 ?
do
do
pret (qaar.jf l 1**}. ,July
Cemmemiit Cable (qiitr.)......... i 1 % July
Edison Elec. 111., B’Myn (quar.).
1 % 'July
July
P. Loriilard, pref tquar.)______
2
July
Qulocv EE. Bridge . . . . . . . . . . . . i 5
Street’s Western Stable Car, prf.
3*$ July
June
Tania rack Mlulog.. . . . . . . ___. . . . S3
July
Union Ferry
----- — ;
1
July
United States tiuMier, pref........| 4
Weisbach Light (quar.»............... 20
June
Western Union ivies'. fqttar.)___
It* July
WesUghonse EL A ML:. pf. fqnj
l \ July

1 June 14
1 June 21
15 July 1
1 June 25
1 June 23
30'.(nne 7
1 June 21
15 Juno 2 8
26 June 20
15 Juno 21
1 June 21

to
to
to
to
to
to

to
to
to
to
to
to

June 17
July 1
July 15
Ju ly JO
Jnne30
July i

W A U , STR E E T, F R ID A Y . JUNE 12, 1 8 9 6 -5 P.'M.

jJ

| w

; a
1I

Differm'sfrom
Prev. week.

1895.
June 8.

1894.
June 9.

»

$
62.622.700
72.302.700
503.437,600
13,233,500
565,996,800
70,783,-00
110,383,300
181,167,100
141,499,200

59,922,700
71,545,100
465,403,700
9,903,500
570,830,200
100,475,500
119,162,800
219,638,300
142,720,050

Barotn*..___ _ < 74.401*400
Loan* A dllMtote. 4703*9,000 Too.1.662,700
OTretilatien
14.7^5,300 Iocs. 120,200
Net deposits___ 497.180,000 Dec. 1,694,100
. . . . . . . . . 61,40&f500Dec, 647,500
Le*»l tenders.... 80,972,800.Dso.3,520,400
Reserve h e ld ..... 1142,781,300 Dee.4,167.900
Legal res-rss__ 124,205,000 Dee. 423,525

Burping reserve 18,486,30olDec 3,744,375 39.667.900 76.918.250

Foreign Exchange.—Owing to a scarcity of offerings the
foreign exchange market has been firm during the week on
a limited volume of business and rates have continued
steady.
To-day'a actual rates of exchange were as follows: Bankers’
sixty days' sterling, 4 87%@4 87%; demand, 4 88%@4 88%;
cables, 4 88%#4 89,

95U 1g^»95%

The following vere the rates of domestic exchange on New
Y o r i :der-mentioned cities to-day: Savannah, buying
1-16 discount, selling par ; Charleston, buying par, selling %
premium ; New Orleans, bank, $1 53 premium; commercial
50c. per 81,090 premium; Chicago, 70c. per $1,000 premium:
St. Louis, 30e.@50c. per $1,000 premium.
Doited States Bonds.—Sales of Government bonds at the
Board include $176,500 4s. coup., 1925, at 116% to 117 ;
$18,500 4s, reg., 1925, at 116% to 116%; $6,500 4s. coup., 1907,
at 109J^ to 109%; $114,000 4s, reg., 1907, at 108 to 108%; §7,000
5s, coup,, at 112% to 113, and $10,000 5s, reg., at 112%. The
following are the closing quotations:
June
9.

July 1
July 1 2 s , ......................re*.
July 15 4s, 1907.............rey.
Juue30 4s, 19 0 7 ...........coup.
July 1 4s, 1925............. reg.

The Money Market and Financial Situation.—The ele­
ment o f uncertainty as to the future financial policy of the
leading political parties is at present the leading, and in fact
governing, factor in all financial movements. This uncer­
tainty,".which has been increasing in intensity for some time
past, has this week been the chief cause of considerable fluc­
tuation and a general decline in values at the Stock Ex­
change. A feature of the week's trading, however, was the
absence o f the better class o f investment bonds and stocks
from the offerings, and the relative firmness which such se­
curities have maintained.
Other conditions not affected by the disturbing influence
mentioned above are in most eases favorable. The Govern­
ment crop report just issued for June estimates the springwheat crop to be the best of any at this season of the year
during the past ten years. The receipts o f grain at several
terminal points has been large.
T ic gold export movement has been limited to $3,400,000
for th- week. Some bills have been drawn against the sales
of our securities abroad, but not enough have been offered to
affect the rates for exchange. It is reported by the beat au­
thority that large amounts of foreign capital will seek in­
vestment in American securities as soon as capitalists are
assured that the present gold standard is to be maintained in
this country. In the tight of this fact the action of the con­
vention at St. Louis next week is looked for with deep
interest.
The open market rates for call loans during the week on
stock and bond collaterals have ranged from \% to 3 per
oent. To-day's rates on call were 1% to 2 per cent. Prime
commercial paper is quoted at 4@4?! percent.
The Bank of England weekly statement on Thursday
showed an increase in bullion of £508.007, and the percent­
age of reserve to liabilities was 5JL01 against 5SL37 last
week ; the discount rate remains unchanged at 2 per cent.
The Bank of France shows a decrease of 11.800,000 francs in
gold and 850,00*) francs in silver.
‘ The New York City Clearing-House banks in their statement
of June 6 showed a decrease in the reserve held of $4,167,900
and a surplus over the required reserve of $18,486,300, against
$22,230,673 the previous week.
1 1896.
j June 6.

F-HTitefortor Bremen (reinlunaraa) b’Jre-rs’ 95% --955,6

to —

July

5

Ch.

Prime bankers’ sterling bids on London..1! S8 ®1 88% 4 89 ®4 8 i%
Prime commercial ................................. j4 87 @4 87%
............
Documentary commercial..........................14 36% #4 87 ,
Parib bankers' (iraues).......................... . 5 16V®5 16% 5 15%a5 15
Amsterdam (guilders) bankers.___ _ ...' 40%»40318 405,g®J0%

June

June

94%
108%
109%
116%
116%
1 1 2 % 112%
113
112%
*100% * 100 %
*103 *103
105 *105
100 * 1 0 0
*100 *100
100 *100
*100 *3 00

94%
*108
109%
*116%

10.

11 ,

94%
108 I
109%;
116*8
116%

4s, 1925...........coup.
os, 1904..............reg,
5s, 1904....... .coup.
6s, aur’o y /9 7 . *eg.
6s, o o r ’oy,’ 9 8 ...re y .
6s, onr’cy ,’ 9 9 .. reg,
4s, (<’her.)1896.reg.
4s, (Cher.)1897.reg.
4s, (Cher.) 1898.reg.
4s, (Cher.>1899.reg.
* This is

June

12 .

116%

112%
*
*

112%

100%

*103
*105
*100
*100
*100
*100

the price bid at the morning board, no sale was made.

United States Sub-Treasury.—The following table shows
receipts and payments at the Sub-Treasury.
Dale.

Receipts.

8
9
10
11
12

$
1,736.222
2,144,704
2,547,620
2,051,398
3,989,3 79
2.318,976

Total

15,088,299

June 6
“
“
“
“
“

Payments,
$
2,491,299
3,304,668
2,633,631
2,488, "82
2,949.244
2.364,212

Coin.
107,693,140
167,553,93 4
107,544,356
107,325,209
10-,216,701
106,126,526

16,731,1861 ...................

Balances.
Coin CerVs. Ourreney.
$
1,546,100
1,651,972
1,658,735
1 ,7 '3 ,6 9 6
1,884, '4 5
2,019,988

8
90,006,445
89,179,815
89,096,570
88,824,071
88,801,466
90,211,362

.........

Coins.—Following are current quotations in gold fo r coins :
S ov ereig n s.___ ..$ 4 90
N apoleons........... 3 87
X X Kelcbmarks. 4 80
25 Pesetas............ 4 75
Span. Doubloons. 15 55
M ex. Doubloons. 15 50
Fine gold b a rs...
par

a $ 4 94
® 3 93
a 4 86
® 4 80
® 15 75
® 15 75
® % prem

Fine silver b a rs... — 68% ® — 69%
F ive fran cs........... — 90 ® — 95 %
M exican dollars.. — 53% ® — 54%
Do unoom’c ia l.. — 53% ® — 64
Peruvian sols— . — 48% ® — 40%
English silver . . . 4 86 » U i j
U. S. trade dollars — 65 ® — 75

State and Railroad Bonds.—Sales of State bonds at the
Board include$23,000 Tenn. settlement 3s at 81 to 83%; $31,000 Virginia fund, debt 2-8s of 1991 at 59% to 59%; $5,000
Virginia 6s deferred trust receipts, stamped, at 5% ; $8,000
Louisiana con. 4s at 97% to 98 and $3,000 No. Carolina con.
4s at 104.
The market for railway bonds has been somewhat more
active than it was last week, but in sympathy with the stock
market has been unsteady. There was a general decline in
values on Wednesday, under a liquidating movement, but in
many cases the losses then made have been recovered. The
activity of the week in this department was confined chiefly
to the speculative issues, including Atchison, Ches. & Ohio,
Chic. A No. Pacific, Mo. Kan. & Texas, Ore. Improvement,
Ore. Short Line, Reading, Southern Ry., Texas & Pacific,
No. Pacific, Union Pacific, Wis. Central and Union EleVated
bonds.
Railroad and Miscellaneous Stocks.—The stock market
was unusually dull and uninteresting, with fractional de­
clines, until Wednesday, when uneasiness in regard to the
political situation started a general selling movement among
speculators and holders of lightly-margined Stocks. This
movement extended to the entire active list and resulted in
a drop of from 1 to 3 percent. Wild and sensational ru­
mors were started by the bears to add to the feverish condi­
tion and encourage liquidation. In the course of the decline
the execution o f stop orders accelerated the downward
movement and gave a panicky tone to the market. Standard
investment stocks were however very slightly affected, there
being only a few offerings of that class. Before the close on
Wednesday the rumors of the day were declared to be
without any foundation, and a reaction had begun which
continued on Thursday and generally restored prices to the
level of the early part “of the week, and with a few excep­
tions net losses are unimportant. Mo. Pacific was at the
lowest point of the year on Wednesday, when it sold at 19%.
It closes to day at 22%, a net loss of \% per cent. The coal
stocks have been notably weak, and Manhattan Elevated has
declined 1% points, notwithstanding its regular quarterly
dividend of 1% per cent. The grangers and many other ac
tive stocks are fractionally lower than our last quotations.

THE CHRONICLE.

1076

[You LXI1.

N E W Y O R K S T O C K E X C H A N G E — A C T IV E S fO C K S f o r week ending JU N E 1 2 , and since JAN. 1 , 1 8 9 6 .
H IGH EST AND LOWEST PRICES,
Saturday,
Jane 6.

Monday,
June 8.

Tuesday,
Juno 9.

Wednesday,
J une 10.

Thursday,
June 11.

Friday,
June 12.

STOCKS.

Sales o f
R ange fo r year 1898
the
[ On basis of 100-share lots. 1
W e e k , ------------------------------------------ .
Shares.
Lowest.
| Highest.

A c tiv e K B . S to ck s .
14% 14% 'At.Top. & S.Fe, ailinstai. paid 17,862; 12% Jan. 7i 17% Feb. 24
21% 22%
Do
pref
10,760; 1 9 June 10, 28% Feb. 24
770,
% J une 10
%
% 'A tlantio <&Pacific
%
% Feb. 6
17=8 17% Baltimore
~
18
2,410 13 Mar. 6 44 Jan. 27
18
& O hio............
18
23% 23% Brooklyn Rapid Transit.
1,962 20% Mar. 25; 25% Apr. 23
24%
23=8 24
61% 62% Canadian Pacitlo............
300 52 Jan. 4 62% M ay 27
63
*61
49% 49Si Canada Southern............
2,025 45% Jan.
50
49
49%
51% Feb. 10
104%
10434
2,924
103%
104%
Central o f New Jersey__
94% Jan.
105%
109% Apr. 23
14
15 Central P acific.................
100 14% Jan.
*14% 15
15
15% Feb. 15
5,370| 13 Jan.
15% 15% Chesapeake <fc O hio..........
15
15%
15%
18% Apr. 23
155 160 Chioago & A lto n ......................
'155 160
5 0 1 5 5 Apr.
155 Apr. 2
76%
77%
75% 77%
77%
Chicago Burlington & Quincy 48,283 71% Jan.
82=e A pr. 24
*41
41 Chicago & Eastern Illin ois...
100
*41
42
43
“
40% Apr. 13 43 Jan. 18
Do
p ref.
98 Jan. 23 100% Mar. 5
76
76% Chioago M ilwaukee & St. Paul 98,693 63% Jan. 7 79% Apr. 28
76%
73=8 76% 74% 76%
76% 77% 76
75% 76%
919 125 Jan. 7 1 3 0 % Mar. 2
127 127 *126 127% 126% 126% 127 127%
Do
p ref
§128 128% 128 128
5,500 94% Jan. 7 106% Apr. 23
101% 102% 102 102=8 Chicago & Northw estern___
105% 106% 104% 106% 104=8 105 x lO l 102
65 142 Jan. 8 149% Apr. 27
Do
pref.
§148 148 §146% 146% 145% 147 *146%
*149 151
69% 70% Chicago R ock Island & Faoiflo 22,398 62 Jan. 7 74% Feb. 24
69% 70%
69%
68% 69%
70% 70%
69% 69=8 68
3,155 31% Jan. 7 45=i A pr. 27
42% 42% Chicago St. Paul Minn. & Om .
41% 42
42%
40% 41%
42% 42% 42
42% 42%
120 117 Jan. 7 124% Feb. 25
124 124 *124% 126 §125 125 §125% 125% 124% 127
Do
pref.
*123 125
2,900 31 Jan. 7 39% Feb. 10
32% 33 Clove. Cincln. Ohio. & St. L ...
33
32% 33% *32
34
34
33%
33% 33% *33
40 85 A pr. 16 90% Feb. 20
*82
85
*82
85
*82
85
Do
p ref.
*82
85
*82
85
§85
85
1,400 15 Jan. 7 18=8 Jan. 23
16% 16%
15% 16 Columhus H ocking Val. & T ol
16
16%
15% 15%
16% 16%
16% 16%
120 53 M ay 22 55 M ay 22
60
Do
p ref.
§56% 56% *54
55
55
*54
60
§56
56
*53
60
124% 125
3,037 119% Jan. 7 129% Feb. 11
124% 125% Delaw are & H udson................
127% 127% 126% 128% §126% 126% 126 126
1,741 155% Jan. 7 166 June 5
161 161% DelawareLackawanna&W est
*164 166 i*160 .
160 160
*160 165
159% 160
* 1 2 % ___ D enver & Rio Grande
12 % 13%
12% A pr. 16 14 Feb. 4
2,361 40 Jan. 7 1 51 Feb. 24
47% 48 _
*47% 48% §48% 48% 46% 47
Do
p ref.
46
46%
46% 46%
1,730 13% June 10, 15=8 Mar. 12
14% 14% E r ie .................................. .
14% §14
*14
15 | *14
13% 14
14
13=8 14%
35
35
316 34% June 4 1 4 1 % M ar.L 7
Do
1st p ref.
34% 34%
......... 35
*20% 23
95 20% M ay 14 25 Mar. 16
*20% 23
20
23
Do
2d p ref.
§21
21%
29% 31
*29% 31
*29% 31
*29% 30 E vansville & Terre H aute___
25 Jan. 15 34% Feb. 24
*29% 31
*29% 31
140 108% Mar. 13 121 M ay 7
T 18 120 Great Northern, pref.
§117% 117% T 18 122 *118 122
•118 120
118 118
*93% 96
222 89% Jan. 8 98 Jari. 31
*93
96
§95
95%
92% 93
*91
92% §93% 93% Illinois C entral..........
610
8 % 8 % *8
*8 %
8%
*8
8% Iow a C entral............ .
8%
7% Jan. 7 10% Feb. 7
8
8
7%
8
*32% 34
*32% 34
700 25 Jan. 6 38 Apr. 23
34 ,
34
34
*32% 34
.D o
p ref.
32
33% *33
*17% 18%
300 17% Apr. 11 22% Feb. 5
18% 18% *17% 18
18% 18% Lake Erie & W e s te r n ...........
*17% 18%
18% 18%
1,389 64=8 Jan. 7 75 Feb. 7
§71% 71% 70% 70%
70% 71
Do
pref.
69
69
69
70%
70=8 70%
*151 152% 151 151% 150 152% 150 150
767 134% Jan. 7 152% June 12
152 152% Lake Shore & Mioh. Southern.
152 152
77
77
Long
Islan
d..................
§75% 75% *76
620 76 June 10 84 Jan. •/
79
*76
78
76
76
*76
78
49=8 50% 49% 49=8 49% 49% 47
49
47% 49% 49% 50% Louisville A N ashville............ 44,236 39% Jan. 7 55=8 Feb. 24
*8%
9%
*8%
9%
*S%
9%
Louisv.
New
A
lbany
&
C
h
ic..
*8%
9%
10% Feb. 18
*8%
9%
*8%
9%
7=8 Jan.
*20
21
*20
21
21
21
20
21 .
300 16% Jan.
24% Feb. 13
Do
p ref.
*19
20
*19
20
104% 104% 103 104% 102% 103% x l0 0 % 1 0 2 Manhattan Elevated, c o n s o l.. 15,725 96% Jan.
113% Feb. 11
104% 105% 104% 105
*106
106% 106% 104% 106
538 92 Jan.
109% M ay 25
105% 105% 105% 105% M etropolitan Traotion.
96
*95
95
95
507 93 Mar. 23 97% Feb. 11
*95
98 Michigan Central............
95
95
95% 95%
*17
*17
18
18
17% 17% Minneapolis & St. Louis
400 16 June 11 21% Feb. 21
*16% 17% *16
17
16
17
*76
78% *76
78% *76
78% *76
78%
72 Jan. 10 83 Feb. 21
Do
1st p ref.
78% *76
78% *76
*46% 48
*46
48
300 40 Jan, 7 53% Apr. 22
47% *46
*46
46% 46%
Do
2d pref.
46
46
47%
10 % 10% T 0% 1 1 % § 1 0 % 1 0 %
810 10% Jan. 6 13% Feb. 21
*10% 11 M issouri Kansas & T exas.......
10% 10%
10% 11
23% 24% 24
§25% 25%
24%
5,825 22 Jan. 7 31% Feb. 25
Do
pref.
22
22% 23%
23=8 24%
23%
22% 23%
25,152 19=8 June 10 29% Apr. 24
22 % 23%
23% 24
21
21% 21% 22% Missouri Paciflo
19=8 22%
*19% 22
*19% 21
*19% 21
100 18% M ay 11 25 Jan. 11
*20% 22% M obile <feOhio...____
*19% 21
20
20
*68
*68
85
85
85
*68
*68
85 Nashv.Chattanooga&StLouis
-68
85
*68
85
N ew E ngland...........................
43 Mar. 23 51% Jan. 28
*96
96%
96
96% §95% 96%
2,267 93% Jan. 7 99% Feb. 10
94 ^ 951q §95
95%
9 5 % 9538 New Y ork Central & Hudson
*12
13
13
13
*12
13
*12
*12
105 11 Jan. 2 15 Jan. 22
13
-11
13
13 N ew YorkC hioago & St. Louis
*70
80
§73
73
1 71% Jan. 17 80 Jan. 22
*70
80
*70
Do
1st p ref.
*70
80
-7 0
HO
80
31% 31%
32% 32% *31
32%
800 26 Jan. 17 35=8 Apr. 13
Do
2d pref.
29% 29%
31% 31%
30
31%
§177 177 §175% 175% 176 177 *176 177 *175 177 *174 176 N ew Y orkN ew H aven & Hart.
55 170 Apr. 30 186 Feb. 10
14
14
13% 14% 13=8 13%
2,102 12% Jan. 7 15% Jan. 31
13
13% 14 New York Ontario & Western.
13%
13=8 14
*8%
9
*8%
9
1,025
8%
8%
7% Mar. 26 11% Jan 31
8%
8%
8% New York Susq. & West., new.
8%
8
8
*24
24% 24
24
23% 23% 2 2 ^ 2314 23
Do
pref.
2,970 21% Jan. 7 31% Feb. 6
23
23% 23%
§4%
4%
*4%
5%
*4%
*4
*4
5%
t% Apr. 29 13 Feb. 21
5%
5 N orf.& W estern,2d instaL pd.
*4ia
5
* 10%
11
10% 10% *10
ICO t4% M ay 8 10% June 8
10=8
Do p ref.,tr.otfs.2din s.pd.
*9 % 10%
*9% 1014
*912 1 0
4%
4%
3%
4%
2%
5% M ay 27
t% M ay 23
3
4
4
3%
4=8
4 12
5 Nor. Pac., 1st instalm ’t paid. 19,300
14% 15%
14% 14=8 13% 14%
13% 13%
4,108 flO Apr. 16 117% Mar. 9
Do pref., 1 stinstal. paid
14% 14*2 14% 1 4 1 2
‘ 14
14
20
20
*14
*14
*14
20
flO
Feb. 18 22 A pr. 14
*14
20 O r.R y& N av.C o. ree. asst.pd.
20
20
f3% A pr. 14 t8% Feb. 24
Or.S.L.& U .N or.rec,2dins. pd
8%
9%
9
8=8
7%
9 Phila.& Reading ls tin s t. p d . 27,622 t2% Jan. 7 15% Jan. 31
8%
8%
8%
8%
8%
8%
*15
16
*15
16
*15
14%
Jan. 7 18% Feb. 7
Pittsburg
Cinn.
Chio.
&
St.
L
.
*15
15
150
16
16
15
*15
16
*53
56% *53
56% *53
56% * 5 3 1 56% * 5 3
52 Jan. 8 59 Feb. 27
Do
pref.
56%
56is *53
......... 15
15
.........1 15 *
Pittsburg
&
W
estern,
p
ref___
15
17 Jan. 15 20% Jan. 31
15
15
R io Grande W estern................
16 Feb. 8 18% F eb. 10
.........
*115 117
'115 117 *115 117
114 Mar. 30 118 Jam 3
* il5 ” ii6 %
i i 5 " ‘ i.1 7 ”
58% 58%
222 5 7 Jan. 2iJ 60% Jan. 3
St. Louis Alt. & T. H.,t]
*58
*58
*4% 4%
4
4
53* Feb. 7
§4
4
§4
4 Jam 7
*3%
385
4
4 12
412 St. L ouis Southwestern
*416
10% 10%
9% 10%
934
Do
9%
9%
10
1,689
9 Jan. 6 13 Feb. 26
10
10
9 % j? %
*22
25
*22
23
*22
23
*22
*22
22
200 22 June 12 27% Feb. 24
23
23
22 St. P aul & Duluth..........
*85
90
*85
90
*85
90
90 Feb. 4 91 Feb. 10
*85
90
*85
90
90
Do
pref.
*85
*112 117
T 12 117
114 117
Jan. 22 115 Jan. 11
113 113 *112 117
120 n o
112
L17 St. P aul Minn. & M an itoba ...
19% 19% 19
19%
18% 19
1 ,7 7 5
18% Mar. 24 22*4 Jan. 14
18% 18%
19
19%
19% 19% Southern Paoifio C o.................
3%
8%
8%
8%
7% Jan. h 11 Feb. 6
8%
8,360
8%
8%
9
9 Southern,voting trust, certif.
8=8
8%
9%
28% 28%
28% 28=s 27% 28% 26% 27%
27
28%
28% 2838 D o pref., votin g trust, cert. 10,242 23% Jam 7 33% Feb. 2ft
7%
8%
7%
7%
9% Feb. 25
7=8
7%
1,730
7% June 1C
7%
7%
8
7%
7=8
7=8 Texas & P acific........... .
*32
37
32
32
*30
35 May 6
*30
35
170 32 June
35
*30
*30
35
35 Toledo & Ohio Central
*70
74
*70
74
*70
74
Apr. 6 75 Apr. 6
*70
74
*70
75
74
*70
74
Do
pref.
7%
6%
7%
6%
7%
3% Jan. 7 10 Apr. 2 1
6%
6 34
6%
6,600
7%
7%
7 % Union Pacific trust r ece ip ts..
3
3%
3
*3
2
3%
2 June 10
5% Feb. 13
•2% 2%
825
2 %
2%
2 % Union Paciflo D enver & Gulf.
7
*6%
7
7% Feb. 24
6=8
6 ^ Jan. 7
6%
6%
6=8
6%
6%
2 ,1 0 0
6%
6% W a b a sh ....................................
& e 16% 16% 16% 16% 16=8 15% 16% 1612 17
6,491 14% Jan. 7 19% Feb. 24
Do
pref.
16% 17%
9% 10
9% 10
9%
9
9%
9%
8% Mar. 19 13% Feb. 14
9%
9%
9=8 10 W heeling & Lake E rie............ 12,420
*34
37% *34
37% *34
37% * 3 4
34
38%
35%
340 31% Mar. 19 40% Feb. 13
Do
pref.
35% *33
*1%
2
*1%
2
2% Apr. 2
4% Feb. 24
Wise. Cen. Co., voting tr. c tfs.
|M is c e lla n e o u s S to c k s .
*11% 12
*11% 12
*11% 12
11% 11% §11% 11%:' 11% 12 Am erican Cotton Oil Co
550 11*2 June 3 19 Jan. 27
*54% 55
54=8 54%
54% 54%
54
54%
54% 54% 54% 54%
1,692 54 June 10 69 Feb. 11
Do
pref.
123=8 125
123% 124% 122% 123% 120=8 122% 121% 123% 122% 123% Amerioan Sugar Refining Co. 190,312 97 Jan. 7 126=8 Apr. 21
§104% 104% 103% 104% 104 104 §104% 104% 104 104
1,828 95 Jan. 6 IQ.5% June 12
Do
pref.
105% 105%
64% 65%
64% 66
64% 65%
64% 65%
64% 65% American T obacco C o............ 42,508 62^8 M ay 8 9 d Apr. 2
63% 65%
*98 100
§99% 99% §99
99% *97 100
*97 100
99% 99%
160 97*8 Apr. 23 103 Feb. 13
Do
pref,
68% 68=8 67% 68%
67% 67%
66% 67%
67
67=8 67% 67% Chicago Gas Co., certs, o f dep. 14,286 62 Jan. 7 70% May 4
155 155 §154% 154%! 153 155
153 154
'153 155
2,945 143 Jan. 7 164=4 Apr. 29
155 155% Consolidated Gas C om pany..
17% 17%
16% 17%: 16% 16%
14
16
15% 15%
15% 16% Dis. & C. F. Co. ,tr. ets. all m s.pd. 24,510 14 June LO 20% Apr. 23
33% 33%
32
33
32
32%
31
32
10,955 22 Jan. 6 39% Mar. 13
31% 32% General E lectric C o ...
30% 32%
*60
66
*60
66
*60
66
66
*63
60
60
*55
500 60 J une LI 75 Apr. 15
65 Illinois Steel C o .........
25% 25% *24% 25% *24
25
23% 24%
23% 24%
22 Mar. 7 28=a Apr. 21
24% 25 National Lead C o___
1 ,5 9 7
*88% 89
88=a 88=s *88
89
8 6 % 8 6 % §88
88
82% Jan. 7 92 May 4
4
97
Do
pref.
§87=8 87=8
5%
5%
5%
5=s
5
5
5%
4%
5
5%
4 Jan. 6
5
4,254
G% Feb. 24
North
Am
erioan
C
o
...
5%
25% 25%
24=s. 25% 24% 24%
22=8 24%
23% 24%
24
9,036 2 2 ^ Jan. 7 31 Feb. 1 0
25 Pacific M ail.................
* 110 % ............ * 1 1 0 % .........1*113
......... 113 ■ ■ *110% . . . .
118
Pipe
Line
C
ertificates.______
158 160
158 160 j*158% 160
158% 158% 156 159
270 L43 Jam 7 164 Feb. 11
156 159 Pullm an P alace Car Company
69
69
69
69 I 69
69
69
69
*68% 69
68% 68% Silver Bullion Certificates___ 358,000! 67=s Jan. 8 70 Feb. 24
25% 25%
24% 25% 22% 24%
20% 23
21% 22%
22% 23% Tennessee Coal Iron & R R ... 33,545) 20% J u u e 10 3434 Feb. 10
Do
pref.
*5%
5%
‘ 5%
5%
*5%
5%
5%
43* Mar. 24
63s Feb. 7
5%
910
5%
5% U.S.Cord.Co.,tr.rec.all ins.pd.
*9% 10%
10% 10%i *10
10%
9%
9%
10
9%
711
Pref.,
tr.
reo.
all
ins.
pd.
10
%
1
0
%
8% Mar. 24 1238 Feb. 7
8%
8%
8
8%'
8%
8%
8%
8%
8%
8%
4,864i
8
June
8
11%
Feb. 8
8%
8 % 'United States Leather Co.......
63% 63%' 63% 63%
62% 63%
61% 63
62= 8 63%
9,603, 56 % Jan. 9 69% Feb. 14
63%
Do
pref.
63
*21
23 | 21
21%
19
20%
18% 19%
19
20
4,401
18%
29
J
an. 13
June 10,
19% 19% United States Rubber C o.......
85% 85% i 85% 85%
85
85%' 84=8 85
84'% 85=81 85% 86 ;Western Union T elegraph___
8.690' 8 1 1* .Tan. 2 2 S=7Ro ATW
14%
22

1478 143s
2 2 ti 21=8
•3,
%
%
18
18
18
24% 241.1 24%
63
*62
*62
49%
49% 50
. 105%106%| 103=8
14% 14% *14%
*15% 16 | 15%
* 1 5 7 % .........*157%
77% 78% 77%
*41
43
*41

14%

22%

14% 14%
21% 22%
%
%
*17% 18%
24% 24%
*61% 62%
50% 50%
105% 105%
*14% 15
15% 15%
§159 159
77
77%
41
41

13% 14%
19
21%
%
%
17% 17=8
23% 24
61
61
49% 49%
103% 104%
*14% 15
13% 15
*157% ___
75
77%
*41
42

Tnese are bid and asked^no sale made,

13%
20

14%
21 %

§ Less than 100 shares,

i Before paym ent o f anv instalm ent. 1 E x-div. and sorip.

THE CHRONICLE.

J une 13, 1896,]
NEW

1077

Y O R K S T O C K E X C H A N G E P R IC E S (C o n tin u e d )— I N A C T I V E S T O C K S .

June 12. j Range (sales) in 1896.

iK A cnvs Stocks.
I! Indicates unlisted,

Bid.

Ask.’

.100 182
183% May
8
11% Feb.
1 1
!
22
25
SB's June 29% Feb.
.100
3
7 Feb.
7
7 Feb.
.100
131% Jan. 131% Jan.
.100 102 id s " 102 May 102 May
7
8
-100 U9
10 " ja m
25 May
___ 51 May 62% May
157
Preferred..
: 70 Mar. 70 Mar.
-100 72
.100
41% Jan. 54% May
50 163
155 Jan. 162 May
8%
5% Jan.
9%
9 June
.100 60
Preferred.
51 Apr. 60 June
.100
.1 % 5% 4% Apr.
6 Jan.
12
10% Apr. 14% Feb.
0
EvansTiilc A T w o H. pref. ..so
50
45 Apr. 50 Feb.
40
13 Feb. 16 Feb.
15
Flint <fc Pere Marquette......... .100
.100
37 Mar. 43 Feb
40
.100
85 Jan. 92% May
Indiana IUIno
27*4 25 Jan, 25 Jan.
100
6%
6% May
8 Jan.
8
.100
2 Jan.
2% 4
3% Mar.
13% 15%
Preferred,
18 Feb.
.100
**
.100
12 "F eb .
a% 10%' 9 Jan.
1
2% Feb.
Mexican National tr. etfs.
% -May
1%
. 50
160 Apr. 166% Feb.

Preferred........
Balt. & O. S. NT. ]

S a w J e r s e y as s .

y

.

.1 0 0

Preferra
r a < l..
S . Y, L »c«. & Western

.100

.1 0 0

Peoria A Eastern............

Benssslaer A S aratoga..
B io Grande Western pre

115% Jan. 120
70 May 70

87% 72
15
5
2
1%
6
4
180

1 0 0

.100
Tf'i. 8t. L. <fc Ran. Cltylf....- .......
Preferred f ----- --------■No price Friday; latest price this week.

Jan.
May

2% Apr.
3%’ Feb.
3 Jan.
5% Feb.
181% May 182 Feb.
39 Jam
46% Feb.
5% Apr.
5 Feb.

June 12.

I nactive Stocks.
If Indicates unlisted.

Highest.

|

R a i l r o a d S to c k s ,

(% I n d ic a te s a c t u a l sa les.J

Bid,

Ask.

Range (sales) in 1896.
Lowest.

M is c e lla n e o u s S t o c k s .
Adams Express..................
.100 1U8% 149%
37
Amerioan Bank Note Oo If
40
American Express....................100 1113%
Am. Spirit Mf.a. Co. (when issued)ff
Preferred (when issued) ff...........
Amer. Telegraph & Cable........ 100 191% 92
91 Jan.
Bay State Gas 1f........................ 50 128
28
18% Feb.
Brunswick Company.................100
% Feb.
%
%
Chic. Juno. By. * Stock Yards.100
95% Feb.
Colorado Coal & Iron D eyel... 100
1%
i%
1 % May
Colorado Fuel & Iron............... 100 +26% 28^ 23% Jan.
Preferred.................................100
100
90 May
Columbus <&Hocking C oal....,100
1% Jan.
:l%
Commercial Cable............
100 150
162% Apr.
Consol. Coal of Maryland........ 100 32
35
30 Mur.
Detroit G as................................ 50
26 Apr.
Edison Elec. 111. of N. Y ........... 100 198%
89 Jan.
Edison Elec. 111. of Brooklyn..100
Erie Telegraph & Telephone ..100
60
59
59 Apr.
Interior Conduit & Ins..............100
35 Feb.
2 2 % 18% Jan.
Laolede Gas............
...100 22
83
Preferred................................. 100
78 Feb.
Maryland Coal, pref.................. 100 40
55
Michigan-Peninsular Car C o.. .100
Preferred..................................100
59% Feb.
Minnesota Iron.......................... 100 64% 67
53 Jan.
National Linseed Oil Co........... 100 U7
15 Mar.
National Starch Mfg. Co...........100
4% Jan.
8
6
New Central Coal.......... ............ 100
7% Mar.
8
8 Jan.
Ontario Silver M ining.............100 113%
Oregon Improv’t Co. tr,reete..l00
% June
1%
Pennsylvania Coal.................... 50 330
320 Apr.
1% 2
Quicksilver Mining.................... 100
1% Apr.
14
Preferred................................. 100
5 Jan.
to
Texas Paoiflif Land Trust........ 100
5^
17 Jan.
U. 8. Cordage, guar., tr. eertfs.100 120%
38 Jan.
42
U. 8. Express..............................100 40
75 May
;U. 8. Rubber preferred............. 100 130%
97 Jan.
1 96 io o

Highest.
150% Apr.
116 " S a y
97
33

May
May
% Feb.
96% Feb
4% Jan,
34% Feb.
98 Feb.
JSs Mar.
V ' ■ Apr.
27sa Apr
100% May
62% ja n .
35 Feb.
30 Apr
86% Apr,
60 Feb,
72 Feb.
20% Jan.
6% Feb.
8% Feb.
15 Mar.
4% Jan,
326 Apr,
•2 Jan,
7 "F eb .
24% Feb,
48 Apr,
89 Jan.
101 Feb.

1 Actual sales,

N E W Y O R K S T O C K E X C H A N G E P R I C E S .- ■ S T A T E B O N D S J U N E 1 2 .

BEOOB1TIE8.

| BW.

OUmia 0, 4 s .........................
a

—Bn.fund.HoL1899-1900 ........
de Non-H.Mford ____

N ew Y o rk
.J u n e fi, 1896,

........

99

SECURITIES

Ask.

Bid.

*1913
.1910 102
6 8 - - ..................... .
1919 122
.1933 106
6a, non-fund..........—.......... 1888
1
e n d in g

oink of N»w Vor*. $4,000,0 $2,027,8!$12J20.0 *1,200.0j $1,020.0;* 11,320,0
3,570.0; 15,769,0
2,050,(.
: 71 .: 13.023.0 1 .3 0 8 .0
1,617,0; 10,002,1
8,260,4 1 ,1 1 0 ,7
1, 001,1
H e -chant*'—**..— *!
036.0; 7,024,0
He h*nio»‘............... 2, 000,0 2.203,2 8,512,0: 1 .0 0 7 ,0 ;
America. .. . . . — —- 1.600,0, 2,603,7 15,755,6 1 .1 8 9 .3 2,626,0 18,845,9
796.0 3.844,0
2 1 7 .0
Phealx.. .............; 1, 000 , 0 , 380.0 4 ,1 8 4 ,0 :
3,744,6 31,471,6
City....... .
: 1,000,0 3.320.0 26,560,8 8 .7 7 8 .3
325,9
1.854,8
83,9 2 ,2 7 9 ,6 .
1 8 0 .3
TiAdmmen’s. ... ... - j 7 6 0 .0
4,705.2 22,903,4
3 0 0 .0 7.338.1 22.515.0 3 ,2 8 9 ,4 ;
Oheralcail ............!
443.5 4,459,1
6 0 0 .0
174,7 3,946,8 7 8 5 ,5 !
M iZ&hmU’ E xcise:
1,000,0 1,848,4' 6,017,3
892,3 4,675,1
6 7 2 .3
9 *mm XftUoifeL..
155.8 1,423,1
B iwfcer*’ABfOY*r#'i 300,01 215.4 1,389,0! 218,5
825.0 2,425,0
329.0 2,460,0! 1 8 0 .0
UmbaMm' <*Tra&'m 4 0 0 .0
172.9 1,010,5
1 2 8 ,9 !
«tre*awtoh. . . . . . ——f 200, 0 ; 171,4' 1.058.1
452.0 2,497,1
519.5 3.020.01 2 1 5 .3 !
Leather Maaafxc’iS; 6 0 0 ,0 '
312.2! 1,948,7
101,9
3 7 5 .3
Beneath National.—; 300.01
- 2,378,8
400,3 3,190,7!
7 7 .2
fltatoof Hew York-. 1,200,0
5 2 9 .0
3.917.0 17,133,0
0 2 ,4 123,242,0}
1 ,1
American Sxdhaoge| 5 .0 0 0 .
3.107.0
21.810.4
-;
8 5 2 .8
Commerce.----...... 5.000.0
B03.7
5.503.0
0 1,657,2
8 2 4 .4
Bf Galway.........— ! 1.000.
992.81 6,910,1: 6 1 5 ,2 ! 1,554.5
Mercantile — . ... 1,000,0
732,9
474,7 2.411.0
4 3 4 .9
ractfio......................| 422,7
1.002.0
1,500,0
0 1 3 .1 10.733.5 1 .9 0 1 ,«
Republic........
5,944,0;
962.01
1,217,8
6 7 2 .3
diet asm.. . . . . ....... i 450.0
2 2 9 .3
534.6
200.0
2 8 5 .8 1 1.773.2
Paop ea . . . — . . . . ...
707.7
6 1 8 .3
700,0: 582.5 5 .2 9 8 .1
North America..—
1.571.0
01 l 15.891.1 4 .0 5 6 .0
Hanover...... .. . . .. . . 1.000. 2,034,
451.3
3 5 5 .3
500.0
354,9; 3.013.0
Irving........... .
5 5 5 .2
481.8
600,0! 401,2} 2.687.0
Citizen'*...... . . . . . . .
200.2
537.9
500,0! 277,7! 2 .5 1 2 .0
— ......
910.7
3 4 3 .4
4 .1 8 5 .3
Market
Fulton...
sm
474,6
4 2 2 .1
88,7 3 .2 2 2 .8
.laoo A Leather..... M
1,091,^
1,207,3
1 .5 1 1 .0
1 . 000 .
0,
Corn Bxchanga—
8 1 0 ,3
791,
0
247.6
Ckmtinont»L.. . . . . . . 1 000
___
389.4
1 4 9 ,7
417.7 1.810.0
300.0
QclaaGU . . . . . . . . . . .
3.899.0 20,800,0
20 , 001.0
XmpemrsATraders’
4,405,3 20,538,0
1:111:1 23.147.5
Par*..............
183.8 1,075,7
145.8 1.106.8
Baas Hirer------ ....
Fourth National.... 3 , 200^0 2,132,8 18,291,8 1.759.3 3.297.0 18,321,8
2.321.0 8.907.0
327.0
Central National.... 3.000,0} 490.8 7.974.0
1.104.0 6.380.0
891.0
300.01 655,0 5.174.0
Second National....
412.2
658.1 3.482.0
750,0
305.2 3,118,7
Ninth National.....
500,0 7,184,0 21.876.1 1.128.4 4,301,4 20,291,4
P in t National......
779.4 8.188,6
268,5 7.399.3 1 317,1
Third National...... 1,000,0
197.8 1.322,5
158,9
69.8 1.414.2
300.0
ELY. Nat. Exchange
583.0 3.292.0
466.0
093,1 2.854.0
250.0
Bowery...................
102,3 3.293.7
637.1
2,829,6
426.5
200.0
New York County..
364.5 2.075.2
2.850.4
300,5
294.0
750.0
German vmerlcan500.0 X,385,2 15:5831 1,785,3 2.975.0 18,326,1
Ohaae National.+...
1108,9 7.827.8
6,97
“ "72,1. 1,032,0
100.0 1 121,1
Fifth Avenue.— ,
449.8 3.225.4
2.582.4 ^207,8
004.0
200,0
german Exchange..
398.6 4.098.5
5 8 1 .4 1
2.907.9
854.8
200,0
Germania.—.—. __ _
359.0 5.832.9
5.138.7
500.0
UnitsA States.___ _
0,832,4
1.019.3
8.123.9
l
o
l
’i
li776A
300.0
Lincoln.... . .. . . . . . . .
360.6 4.584.9
842.8
3.926.5
688.0
200.0
« r *>4"
307.0 1.877.3
211.8
1.755.3
200,0
Fifth National..-—.
1.365.6 0,191,3
4,171,6! 900,8
Bank of the Met rep.
H I ;I
300.0
405.0 2.441.0
228,0
2.299.0
3 2 0 .8
Whet Side,.——....
200.0
1.009.0 5.902.0
759.0
268.8 4.838.0
Seaboard.— ......
500.0
174.0 1.503.0
1.783.0
208.0
347,~
Sixth National.__ _
200.0
2.867.7 12,712,7
420.2
Western National.. 2 ,100,0
360,! 11,916,2
497.6 5.447.0
918.0 5.071.0 1,118,8
Wtttst Nat. Br’klyn..
300.0
277.2 1.201.3
525.7 1.729.3
500.0
Southern NaticmaL.
8.570.9
535.0 8.794.8
Nat. Union Bank.... 1,200,0
425,8
1 1.506.3
520,5 1.979.2
187.7 2.010.0
Liberty Nat. Bank.
289.3 3.048.2
509,0
322.6 3.543.6
N.Y, Prod. JBxeh’ge.
Total .. . . .. ...... 61,122,717^0DM 476319.1 61,808,5 80,972,8 497jliojo
XftmaAtMUt CO........

. .

*»

81

82

58h 50
4%

N e w Y o r k C it y , B o s t o n a n d P h i l a d e l p h i a B a n k s ;

Oap-ital <fc
Surplus. Doans.

Specie. Legale. JOevaeita.f Circ’Vn.
S. YJ
$
May 9.. 133,156.0 474,056,7 59,400,9 84.130.1 495,015,5 14,3^0,8 583.648.2
*• 10.. 135.261.5 470.458.4 60,114,3 82,902.0 497,993,3 14.382.8 562.941.5
“ 23.. 135,20] ,5 473.400.4 61.541.5 84,420,3 497,041,2 14.529.8 535.867.6
** 30.. 135.201.5 475.156.4 62,450,0 84.493.2 498,874,1 14,605,1 419,101,4
Jane 6.. L35,724,1 476,819,1 61.808.5 80,972,8 497.180.0 14,725,3 029.507.3
««*».•
May 23.. 69.351.8 100.727.0 8.005.0 0,597,0 141.833.0 9.905.0 89.840.0
“ 30.. 69.351.8 101.004.0 8.574.0 6.251.0 140.032.0 9.848.0 70,007,8
June 0.. 69.351.8 102.927.0 8.459.0 6.087.0 141.857.0 9.870.0 100,344,0
Phila. *
May 23., 35.203.0 103.979.0
30,1 32.0
103.504.0 6.777.0 69.815.7
*■ 30,. 35.203.0 103.911.0
30,6 41.0
104.300.0 0,835,0 51.095.8
29,£ 00,0
Jane 0.. 35.263.0 103.351.0
103.311.0 6.652.0 73.355.0
* We omit two ciphers in all these pjtires, t Including for Boston and Phila
delphia the Item l*due to other banks.”
basks .

l QapUal] 8urpt*$\ Loam, j Specie. | Legate* \J>epo»it»,

2

.1913
Penitentiary 4^8............... .1913
.1991
6s, deferred t’at recite, stamped.

Ask,
■

6s. new bonds ......1892-8-1900
do
new series.......... . .1914

100

C it y B a n k S t a t e m e n t f o r th e w e e k
W e o m it t w o c ip h e r s (00) in a ll ea ses.

BASKS. . ,
COO* omitted.)

Bid.

Mls«enr!—Fund........ -..1894-1895
North Carolina—6e, old-—.-.
1900

.1014 ____
New conolw. 4»___. . . . . . . . -1 9 1 4

SECURITIES.

Ask,

..190,5 ........

M is c e lla n e o u s a n d U n l i s t e d B o n d s :

miHcellaneouB B ond*.
Br’klyn Un. Gas,1st cons. 5s.
Ch. J tm.& 8. Yds.—CoLt.g.,56
Col. C. & I. Bevel, gn. 5s......
Colorado Fael & I.—Gen. 5s .
Col. <fc Hock. Coal <fc i.-fls, g.
Cons.Gas Co..Chic.—lat gn.os
Consol. Coal conv. 08....... ..
Get. Gn« k>h. 1st 5a..........—
Edison Elec. III. Co.-1 st 5a .
Do of Bklym., 1at 5a— .
Equfh. 0.-L..N.Y., 00118. g. 5s.
Equitable G. & F.—lat 6s..—
Henderaon Bridge—1st g, 8s.
Illinoia Steel deb. 5a....... .
Non-eonv. deh 5s..............
Int. Cond. & Ins. deb. 6a......
Manhat. Beach H. L. g. 4s.

M is c e lla n e o u s B on d s.

lOG^a. Metropol, Tel. & Tel. 1st 5s._ *107 h.
Mioh.-Pentn. Car 1st 5a...__
Mutual Union Teleg.—6a g.

75
95
107
"m

Nat. Starch Mfg. 1st 0a..
95 b.
N. Y.^dS N. J 'Jtelep. gen. 5a.. n oo^h .
Northwestern Telegraph—7s.
People’s Gas <fc C. } 1st g. 6s. iio * a.
Co., C hicago.... i 2d g. 6a. 103^1
1st cons. g. 08.—....... .......
99^ a,
Pleas. Valley Coal-la t g. 6s.
Sunday Creek Coal lat g. 6s.. 100 3>
U. 8. Leather—8. f .deh., g„8a UOiah
Western Union Teleg.—z-t.WheeLL.E.ffcPitt'4Coal lat 5s
Unlisted Bonds.
Am. Spirit Mfg.tlst,when iaa
Comstock Tnnnel—Ino. 4a..
8 b

Note.—**o” indicates price bid; ‘ a” price asked. * Latest price thia weth
B a n k S t o c k L i s t — L a te s t p r ic e s th is w e e k ,
BANKJB.

Bid. Ask.

BANKS.

Bid. Ask.

Garfield.......
625
German Am. 112
German E x * 360
235 GarmanU. ,, 380
140 Greenwich ,. 1 0 0
Hanover.—.. 312
Hud. River.. 100
305 Iin. <fcTrad's* 530 540
4200 Irving ......... 137
Leather Mfs’ 160
Lincoln...... . 750
190 Manhattan.. 207
207 Market* Fnl 200
Mechanics’ ..
192
286 M’chs' & Tra’ i l l
140 Mercantile.. 165 175
Merchants’ — 134 133
Merch’ts Ex. 110
275 Metropolis — 410
Mt. Morris— 97*9 102*1
Nassau.......- 140 150
N. Aina’dam 190
182 New York—. 234 237
310 N.Y.Oo’nty. 800
325
170

(* N o t lis t e d ,)
BANKS.

Bid. A

NY.Nat.Ex 05
Ninth......... 112
19th Ward.. 120
N, America, 130
Oriental — 170
Pacific- — 180
205
f t e : ; ; : 235
Phenix....... 108
Prod. Ex.*.. 116
Republic.—. 150
Seaboard... 187
Second........ 440
Seventh__ 100
Shoecfc Le’th
Southern. . . i'o T
Stateof N.Y. 105
Third......... 104
Tradesm'n’s
Union Sq.*,. 185
Union__ — 202
Un'd States
Western.— H o
Weat Side.. 275

135
190
2«r
iiT :

475

'o T
110

106
206

I HE CHRONICLE.

1078
BOSTON .

P H I LA. D E L P H I A

B A L f l H O IIE

STOCK

E X C H A N G E *.

1-Sf S h a r e P r i c e s — n o t P e r C e n t u m P r i c e s .

A ctive Sto c k s.
f Indicates unlisted.

ANO

[ Vo l . LA 11

Saturday,
June 6.

Monday,
J une 8.
14%
%

14%
%

Tuesday,
Juue 9.
14%

14%

Wednesday,
June 10.
13%

14%

Thursday,
June 11.

Friday,
June 12.

13%
*%
*17

1439

14%

8 ales
o f tlie
Week,
8hares.

9,922
14*
95
*
18%
10
66%
460
18*4
699
18
74
210
173
205
162%
95
120
12
56
25
7 7 7r 11,038
21,900
76%
6
255
265
300
92
1,192
33
9
137
1,311
1,865
9 %
81
42
10
75
69
15,293
5
262
14%
93
176%
5,428
52%
4% 21,784
70%
2,534
358
7%
12,380
18

Range o f sales In 1896.
Lowest*

Highest.

1 2 * Jan. 7
%J u n e 8
13 Mar. 6
65 Feb. 26
16 Jan. 7
157a Jan. 7
204 Jan. 7
202 Jan. 29
162 Jan. 30
10 Mar. 31
5 3 Mar. 18
72 Jan. 7
64 Jan. 7
4 70 A or. 8
21 Mar. 3
89 Jan. 20
30% June 4
133% Apr. 1
9438 Jan. 7
8 78 Jan. 6
40 May 28
72% June 4
67% Jan. 16
% May 25
9 78 Apr. 17
175% Jan. 6
50% Jan. 7

1 7 * Feb. 2 4
% Feb. 24
44% Jan. 27
70 Jan. 2
19% A pr. 16
19 A pr. 17
217 Jan. 28
209 J une 1
171 Feb. 19
12% Mar. 10
56 Feb. 28
82% Apr. 24
79% Feb. 24
12% Jan. 2
30 J an. 2
97 Feb. 10
38% Jan. 30
136 Jan. 3
1 0 9 * May 25
1 2 % Feb. 24
51 Jan. 28
85 Jan. 28
70 Feb. 14
$5% M ay 28
17% Mar. 9
179 May 8
5 4 * Apr. 23
77i« Jan. 30
62 Jan. 8 72% May 5
3 Jan. 23 10 Apr. 21
Jan. 8 20 M ay 18
10

atoll. T. & 8. Fe^(Boston) .100 1438 1 4 *
*%
Atiantlo & Pao.
M
100
17*
*17%
*17% 18% "17
Baltimore & Ohio (Bait.). 100 * 1 7 *
-1
67
*65%
66% 66%
Balt. City Pass’ger “
25
18% 18% *177s
18% 18%
*18
18% *18
18% 18%
Baltimore Traction “
25
18
18% 18%
18
18
18
18%
10
18
Baltimore Trao’nll (Phil.). 25
X210
210%
210%
210%
210
*210
210%
210
212
212
Boston & Albany (Bos&wi).100
Boston & LoweU
“
100 *205 208 x205% 205% 204% 204% 205 205 *2 '4% 205% 205
162 162% 162% 162% 162 162% 162 162% *162
Boston & Maine
“
100 *161 162
10
*10% 11
10
*10
*10%
10% 10%
Central o f Mass.
“
100 *10% 11
x 5 4 * 5 4 * *54
*54
*54
*54
Preferred : t
“
100
7730 77%
75
76*
77
76
77
76% 76%
Cmc. Bur. & Quin. “
100 77% 78
76%
7
3
*
7
4
%
76
76%
76
76
76%
76=8
Oolo Mil. & St. P. (PAiL).lOO 76% 7 7
6
6
6
5%
6
6
6
Oho O. & G.vot.t.e. “
50
3%
5=8
21% 21%
21% 22
21% 21%
a t . 8fc.Ry.of Indli “
100
92% 9 2 *
9 2 * *......... 9 2 *
91% 92%
92
92% 92%
Fitchburg pref. . (Boston) .100
32% 3 3
32% 3 3 % 3 2 * 33
32% 32%
33
33
327s
Lehigh V alley .. ( Phila.). 50
*
* ........ 135
135
*135
Maine Central (Boston). 100 134 135
105% 106
105 105% 105 105% * 1 0 5 *
105 105
M etropol’n Trae.jl (Phil). 100
9U lfi 9U lt
9*
*9 %
9 %
9%
9%
Mexican Cent’l (Boston). 100
*978 10
9 =8
*40
41
41
. . . . . . . . . . . . .. . . —
"
100
New England___
*72
72% 72%
P referred ........
“
100 •72% 7 5
69 * ____ 60 *
69 *
69
69 *•
*68%
Northern Central (B all . ) . 50 *
4=8
4
4%
2%
3%
3
4
4%
4%
4%
Northern Pacific (Phila.) 100
3%
14% 14%
13% 13% *14% 1 4 *
14
Preferred
“
100 *14* 15% *1378 14%
177 177
176%
Old Colony....... (Boston) 100 177% 177% 177 177% *.........177% 177 177
5250 5 2 *
52
52%
52% 52%
52% 52%
Pennsylvan i a . . . (Phila.). 50 52% 5 2 *
5238
4%
4%
4%
4 %,
4 % 4 “ l«
Phil. & Reading.!
“
50
3 1516 4%
70%
70% 70%
70
70
70% 70%
69% 70
Philadelph Trao.
**
50
70 =a 70%
6%
7
7
6%
*7
7*
6%
6%
*7
Union P acific. ..(Boston). 100
65e
6%
18%
17
18
18
18
Union Traction.. (Phila.). 50
18% 18%
17 7e
17%
17% 1 7 *
M i s c e ll a n e o u s S t o c k s .
122 123=8 122% 123% 20,129 97% Jan. 7 126% Apr. 71
1 2 3 * 124% 122% 123% 120% 122
Aiu.8ug’r Retin.1] ( Boston).... 12378 125
490 95 Jan. 7 105% June 12
104 104% 104 104% 104 104
104 104% 104% 105%
1 0 3 * 105
P referred....... .
321 197 Jan. 2 207 Mar. 30
205 205
206% 206%
204 205
205% 206
100 205 205
204 205
Bell Telephone..
87
87%
86%
19
088
86%
65 Jan. 7 8 8 * May 25
86%
87%
82%
86%
84%
86%
88%
25
Boat. & Montana.
86%
2 20
2%
*2%
2%
*2%
2%
*2%
*2%
2%
*2%
1% Mar. 7 13% Jan. 31
25
Bntte & Boston..
89
306
310
305
305
305
305
*305
305
25
305 305
*308
295 Jan. 3 311 M ay 22
Calumet & H ecla
*......... 64
64
Canton C o ____ . (Balt.). 100
416 55% Jan. 20 66 Apr. 2
*62% 6 2 *
63
63%
‘ 62% 63
63
Consolidated GaB
“
100
63
63
63
63
63
2.317 24 Jan. 7 36% Apr. 15
20
29% 30
29
29% 31
28
29
29%
Elec.Stor. Bat’ yH (Phila.) .100
29% 30
28
370 25 Jan. 7 38 Apr. 16
30%
32
31%
29
29%
30%
32
31%
Preferred H
“
100
141 58% Apr. 11 63 Jan. 31
60
59% *59
60
Erie T elephone. (Boston). 100
59
59% 59% * 5 9
5 9 % 59% *59% 60%
3
1
%
31*
3 L% 31%
22% Jan. 6 39% Mar. 13
32% 3 2 *
31% 31%
General Electrlo.
“
100 *327a 3 3 % 32% 32%
*72
74
72 * ___ . 72
72 *
72
50 Jan. 8 78 A pr. 14
“
100 •72
P referred ........
75
2 0 34 20
110 18 Jan. 7 21
*20
20
20
May 6
20
LamsonStoreSer.
“
50 « __ 21
20
20
4034 41
59 39% M ay 25 46% Feb. 8
41
41
41
41
41
41
41
41
Lehi’h Coal&Nav. (Phila.) 50 *40
41%
92
*91
87% Jan. 2 3 9 L M ay 28
*91
X91
......... *91
*91
N. E .Telephone (Bosloti). 100 *91
1430 143e
14% 14%
14% 1 4 *
9 Jan. 7 15% M ay 18
14% 14%
15
15%
Pa.Heat.L.&PowfPAMa.).......
13% 14%
66 Mar. 2 81% Jan. 2
70% 7 0 *
71
71
Unit’d Gas Imp.lf
“
50
71% 7 1 *
70% 70%
71% 71%
70% 70%
47
49* 49*
49
47
46 Jan. 8 67 Feb. 17
49
Weisbaoh Light 1i
“
5
49
49%
80
2
2
*1
1 * Jan. 2 3> 2% Feb. 14
West End L and.. (Boston)....
1%
1%
*1 %
*1 %
1%
1%
1%
1%
1%
* Bid and asked prices: no sale was made.
t Trust reoei pts, $2% pd. t Trust re o .lst instal. paid.

In a ctive Sto c k s,
Prices oj June 12.
Atlanta & Charlotte (Ba

100
100
50
50
Oatawissa....................
1st p referred ..........
50
Central Ohio............... (Balt.). 50
Chicago <fe West Mich. (Bo '
100
Connecticut & P ass..
100
Connecticut R iver___
100
100
Delaware&BoundBr.
100
100
Preferred.
100
50
Preferred 51..............
50
Hunt. & Broad T op ...
50
Preferred.................
50
.100
P referred.
100
50
Mine Hill & 8. Haven
50
Nesquehoning V a l . . .
50
North American C o ..
100
North Pennsylvania.
50
.100
Or.Sh.Linelst asst.pdf Bo
Pennsylvania&N. W. (Phila.).. 50
Philadel. & E rie.........
50
Rati d ...................... (Bo
.100
Pre 'erred.................
lo o
.100
Preferred.
100
. 50
P referred................
“
50
United Cos. o f N. J .. (Phi
.100
West J e r s e y .............
“
50
W en Jersey & Atlan.
“
50
Western N.Y. & Penn
“
100
Wisconsin Central ...(Bost
.100
P referred................
“
100
Wore’8t.Nasli.&Roch.
u
100
MISCELLAN EOUS.

Allouez Min’g, asst p df Boston).. 25
Atlantic Mining....... .
25
Bay State Gas tl.........
50
Boston Lhnd..............
10
Centennial M ining...
10
Fort Wayne E lect.n..
25
Franklin M ining___ _
25
Frenohm’n’sB ay L’ d.
5
Iiiinois Steel...............
100
Bearsarge Mining___
25
Osceola Mining..........
25
Pullman Palace Car.
100
Pennsylvania Steel.. ■
.100
Preferred II..............
100
Quincy Mining.......... (
. 25
Tamarack M in in g....
25
Water Pow er..............
100
W*«tingli. Elec. & M..
60
Pref., cumulative 50
i « " i g .,1989, JAJ
2d 2C T
•4.b, g., Mann A ..19 89, A&O
A AO
L’nited rtap 1st R«.

Bid.

Inactive stocks.

Ask.

Bid.

Ask.

70
68
117
Burl. & Mo. R iver E xem pt 6s, J&J 116
N on-exem pt 6 s....... ..1 9 1 8 , J&J f 107 107%
99%
Plain 4 s .......................... 1910, J&J § 98
Chic. Burl. & Nor. 1st 5,1926, A&O 1 0 2 % 103
99
97
2d m ort. 6 s . . . . . . .....1 9 1 8 , J&D
97
98
Debenture 6s...............1896, J&D
93%
95
Chic. Burl. & Quincy 4 s ^.1922, F& A
96% 98
| Iow a D ivision 4 s....... 1919, A&O
52
Chic.&W .Mich. gen. 5s, 1921, J&D . 45
55
Consol, o f V erm ont, 5s. 1913, J&J § 53
70
Current R iver, 1st, 5 s ..1927, A&O 9 60
65
Det. Lana. & Nor’n M. 7a. 1907, J&J * 57
Eastern 1st m ort 6 g .l9 0 6 ,M & 8 .. §119 121
I ree.Elk. & M .V .,lst, 6s.1933, end. §128 130
Unstamped, 1st, 6s, 1933............ §127 128
70
K.C. C.& Spring.,1st,5g.,1925,A&O § 60
88
K O. F .8. & M. con. 6s, 1928, M&N § 87
60
K.C. Mem. & Bir., 1st, 2s, 1927, M&8 * 57
120J&J123
K.
C. 8t. Jo. & C. B ., 7 s ..1907,
94
85
L. R ock & Ft 8., 1st, 7 s .. 1905, J&J
Louis., Ev.&St.L., 1st, 6g.l9 2 6 , A&O 100 104
83
2m ., 5—6 g .................1936, A&O
87
Mar. H. & Out., 6a....... 1925, A&O 106 108
68
M exican Central, 4 g . . . 1911, J&J
68 %
18
18*
1st oonsol.inoom es, 2 g, non-cam.
2d consol, incom es. 3s, non-cam
8% 10
N. Y . & N .Eng,, 1st, 7 s ,1905, J&J* *119 119%
1st m ort. 6 s.......... ...... 1905, J&J *112 112%
91
Ogden. & L .C .,C on .6 s... 1920,A&O
15
Inc. 6 s................
...1 9 2 0 l 90
R u tland, 1st,6s............ 1902,M&N § io o 102
90
2d, 5s........................... 1898,F&A 4 88

Bonds.

People’s Trao. trust certs. 4a..1943
92% 96
Perkiom en, 1st s e r .,5 s .l9 1 3 , Q—J
262 265
Phila.& Erie gen. M. 5g.,1920, A&O
Gen. m ort., 4 g .......... 1920, A&O
2%
Phila & Read, new 4 g., 1958, J&J
i%
1st pref. incom e, 5 g, 1958, Feb 1
53
2d p ref. incom e, 5 g , 1958, Feb. 1
42
45
3d
pref. incom e, 5 g , 1958,Feb. 1
6
5
2d, 5s............................ 1933, A&O
143 144
Consol, m ort. 7 s .........1911, J&D
240 250
Consol, m ort. 6 g . . . . . . l 9 1 1 , J&D
22
24
Im provem entM . 6 g., 1897, A&O
162%
C on.M .,5 g.,stam ped,19 22,M&N
13
11
Terminal 5s, g . . . . . . l 9 4 1 , Q.—F.
37
42
Phil. Wilm. & Balt., 4 s . 1917, A&O
53
Pitts. C. & 8t. L., 7 s ..-.1 9 0 0 , F&A
60
62
Rochester R ailway, con. os ..1 930
30
28
8ohuyl.R.E.Side,1st 5 g.1935, J&D
52% 52%
Union Terminal 1st 5 s ......... «F&A
5
10
35
45
B o n d s .—B a lt im o r e .
A tlanta & Chari., 1st 7s, 1907, J&J
6 3 * 64%
Baltimore Belt, 1st, o s. 1990, M&N
69
Balt. C. Pass. 1st 5 s— 1911, M&N
55
Balt. Traction, 1st 5 s ..l9 2 9 ,;,M&N
5
5%
85
E xten. & impt. 6 s ....1 9 0 1 , M&S
No. Balt. D iv., 5 s....... 1942, J&D
8
7%
Baltimore & Ohio 4 g., 1935, A&O
Pitts. & Conn., 5 g---- 1925, F&A
18
Staten Island, 2d, 5 g.1926, J&J
1
%
Bal.&Ohio S .W .,lst,4% g.l99 0, J&J
70
68
CapeF.& Yad.,Ser.A.,6g.l916, J&D
9%
9%
Series B., 6 g ................1916, J&D
27%
Series C., 6 g .. . . . . . . . . 1916, J&D
68% 69
Cent. Ohio, 4% g ............ 1930, M&S
8 9 * 90%
‘ ent. Pass., 1st 5 s_.--.1 9 3 2 , M&N
239% 240 l A t l a n W ? r i s t hJ ^ . ? i 19hl b V &N 103
City & Sub., 1st 5 s .........1922, J&D
Buffalo Ry. con. 1st, 5s...........1931
55
Chari. C ol.& A ug.ext.5a.l910, J&J
Oatawissa, M ,,7 s ........1900, F&A 112%
Col. & Greenv., 1st 5 -6 s.l9 1 7 , J&J
2
2% Ohoo. OkU. A Gull, prior lien (is.. 107
Ga. Car. & Nor. 1st 5 g ..l9 2 9 , J&J
1% Citizens’ St.Ry.ol lnd.,oon.5s,1933
79
80
i%
Georgia Pao., 1st 5-6S...1922, J&J
Column. St. R y,, 1st, eon. 5 b. . 1932
15
112 113
North.
Cent. 6 s ................ 1900, J&J
Coluinb. O. Crosstown, l8t.5s.1933
6s................... - .............1904, J&J
Consol. Tract, o l N. J., 1st,58.1933
83
84
1
Del. A B ’d B r’k, 1st, 7 s .19 05,F&A 123%
Series A , 5s....... . ....1 9 2 6 , J&J
%
20
20% Easton A Am. lntM .,5s.l920.M A N ' 108% 109
4 % s ...............................1925, A&O
P ied m .& C am bist, 5 g .1911, F&A
13% 13% Elee. A People's Trac. stock, tr. ctfs
4%' Elmir. A Wiim., 1st, 08.1910, J A J . 120
Pitts. & Connells. 1st 7s. 1898, J&J
3%
•10
Southern, 1st 5 s...............1994, J&J
•25
Hestonyille M. A F., eon. 5s..1924 109
1
2 | Hunt. A B r ’d T o p ,C o n ,5 s.’95,AAO 106
Virginia M id., 1st 6 s ... 1906, M&8
11
2d Series, 6 s................. 1911 M&8
n % Lehigh Nay. 4% a...........1914, Q—J 110%
3d Series, 6 s ................ 1918, M&S
%! 2d 6s, gold ................... 1897, JA D 106 106%
63
65
4th Series, 3-4-5s.......1921, M&S
General m ort. 4% s, g .1924. Q—F
12% 1 2 * Leliigb Val.Coal 1st 5a,g. 1933, JA J
5th Series, 5 s..............1926, M&S
98
9o%
27
28
West Va C.& P. 1st, 6 g . 1911, J&J
Lehigh V alley, 1st 6 a ...1898, J&D 104%
158% 160
West’i. N.C. Consol. 6 g-1914, J&J
2d 7 s ............................. 1910, MAS 133
Wilm. Col. & A ug., 6 s.. 1910, J&D
25
Consol. 6 .......................1923, J.£ b 117% 120
52
Newark Passenger, oon. 5s... 1930 103% 104
MISCELLANEOUS.
116 118
North Fenn. 1st, 4s___1936, M%N 108 10»% Baltimore Water 5 s ... 1916, M&N.
88
89
Gen. M .17a.................... 1903, J&J
Funding 5 s . . . . . . ..... 1916, M&N
1
Exchange 3 % s..........1 9 3 0 , J&J
1% Paterson Railway, consol. 6 s ........
29
30
Pennsylvania g e u .6 s ,r ..l9 1 0 , Var 130%
Virginia (State) 3 s,u e w .1 9 3 2 , J&J
52
Funded debt, 2-3s........1991, J&J
53
Consol. 6s, o
............1905, Var 120 122
Consol. 5s, r .................. 1 9 1 9 , Var
ChesapeakeGas 6 s . . . . .19 00, J&D
77% 7 7 *
O ollat.T r. 4»* g ..........1913, J&D
Consol. Gas, 6 s .. . . . . . . . . 1910, J&D
25
25% Pa. A N. Y . C a n a l,7 s...1 9 0 6 ,JA D 122
5 s . . . . . . . . . . . . m . . . . . ...1 9 3 9 , J&J
...................... ioc?o *
f85U> 87
1Vo 1

ludoa overdue ooupoua.'% g II Unlisted.

^ A nd aoorucd interest.

Bid. A sk .
9 4 * 95
101%
117 118
104%
78% 79
26% 26%
13% 14%
11% 12%
121
130% i'3' i
119*
103
100% i0 2
110
111*
1 0 1 * 102
105
100
120
90
113
108
1 j4
106%
101%
101 %
73%
49
109
109
106
111
82
112

110
113
113
108

121
95
113%
108%
104%
L07

50
109%
109%
112%

83
113*
11 0 %

101

105% 1 0 5 *
92%
92
113
115
113
91
100

108% 109
112
112

120% 121
105% 106
7 0 % ....... .
5 8 % .......
103 |. . . . .
1 1 5 5 0 .......
1 0 4 % .......

THE CHKOMCLE.

J u n e 18, 1896.]

1079

NEW YORK STOCK. EXCHANGE PRICES ( Continued )--AaZYP0 BONDS -JUNE 1*2 A N D F O B Y E A R 1S90.
B ailboad and
Misckllaneocjs B onds.

Range (sales) in 1896
InVst Closing
Price
Period June
12. Lowest.
Highest.

R a il r o a d an d
M is c e l l a n e o u s B o n d s .

Range (salesJ in 1896,
InVst Closing
Price
Period June 12.
Lowest.
Sighest.

Amer. Cotton Oil, deb., 8 g-1000 Q—F 109 %b. 1 0 7 13 May 111% Jan. j M. K. & Texas.—1st, 4s, g. 1990 J & D
82%
87 Feb.
80 Jan.
Ann Arbor.—1st, 4s, g . . . . .1995 Q—J
70^
6 6
Jan. 72 Feb. j 24,4s, g ............. ............. 1990;F & A
58
63% Feb,
53% Jan.
At. T. AS.F.—New geii. 4s. 1995;A Sc O 78^
72% Jan. S l1^ Feb. : Mo. Pao.—1st, eon,, 6g.___1920 M & K 85 b. 86 June 97 Jan.
Adjustment 4 s............
1995 Nov.
41
38 12 June 51% Feb, ! 34, 7s...................... ? ....... 1 9 0 6 M& jST 105 %b. 106 May 112 Jam
Col. Midland—Cons.,4 g -1940!F & A
120 Jan. 127 Feb. J Pao. olM o.—I se, ex., ig-lSSS ? & A 103
101 Feb. 103 June
Atl. Ss P»e.—Gaar. 4 s .. . . . 1937!.......... " 4 8 a.i 4 . 0 Mar. 50 Apr !
24 ext. 5s...... ...........".1938 J A J 107% a. 105 May 106 Apr.
B’ vr»y&7ihAv.~lsteon.g.5s’43 J & D 115% 111% Jan. 1173i May
St. L. &Ir.Mt.lst e x t, 53.1897 F A A 1 0 1 %b, 100 Feb. 102% Jam
Brooklyn Blew. 1st, 6g___A. & O
80%. | 80% June 10*2 Jao, !
24, 7g............................1897 M & ST 1 0 0 %b. 100 Jan. 103% Apr.
Union Elevated.—6 g...,193?;M & N" 80%b.i 80% June 100% Jan
Cairo Ark. & Texas, 7g. 1897 J A D '101
100% Feb. 102% May
B’ kty&W'hrf&W.H—lst,5s,g.*45 F & A 9 3 % j 9 7 Feb. 101 May
Gen. B’y &land gr.,5g. 1931 A A O 78
77 Apr. 81% Mar.
Canada Southern.—1st, 5a,1908: J & J 110%b. 106 Jan. 110% Jane Mobile & Oilio—New 6 g __ 1927 J A D 116 b. 117 Jam 120% May
2d, 5a. ....................,....1 9 1 3 ;51 A S 104% 103% Mar. 107 Feb.
General mortgage, I s ...1938 M A S 65 b. 62% Jan.
68% Feb
Centrafof N. J .—Co ns.,7s, 1899 Q—J 108%b. 107% Apr. 1 1 0 % Mai*. Nasb. Ob. &St,L.—1st, 7S..1913 J A J 131%b. 127 Feb. 131%
June
Consol., 7 a . . . . . . . . . . .......1902 M A Nj 114 b. 115% Feb. 120 Apr.
Consol., 5g....................... 1918 A A O 100
99 Apr. 102 Feb.
General mortgage, 5 g ... 1987 J A J i 119% 112% Jan. 119% Feb. N. Y. Central—Debtext.4s.1905 M A N 1 0 1 %b. 100% Jan, 103% Apr
Leh.A W. B.,cou.*,7s,as’d-1900 Q—M 103 b. 103 Mar. 106 Feb. ; 1st, eoupon, 7s................ 1903 J A J 1 2 0 b. 118 Jam 120% Mar,
**
mortga.ge5s.1912; M A N 90 b. 90 Apr. 92% Mar.
Deben.,0 3 , coup., 1884.. 1904 M A S 107 %b. 105% Mar. 109 Feb
Am. Dock A Imp., 5s___1921; J & J 114%b. U l% Jan. 111% Mar. I N. Y. & Harlem, 7 3 , reg..l900 M A N lll% b .
May 111% June
Central Pacific.-Gold, 6s. 1898 J & J 103 b.j 93% Jan. 104 May j K.W. & Ogd., consols, 53.192*2 A A O 117 b. 111%
116 Apr, 119% Feb.
Cites. & Ohio.—Ser. A* 6g*. 19931A & Oi 117 b j 115% Apr. 117% May ; West Shore, guar., 4s__ 2361 J A J 106% 104 Jam 106% Feb.
Mortgage, 6 g — ........... 1 9 1 1 A & O' 117 h. j 114% Apr. 117% Mar. N. Y. Ohio. & St. L.—4 g..,1937 A A O 103% 102 Jan. 105 Feb.
1st consol., 5 g.______ . . . . 1939 M # Hi 106% j 104% Jan. 1L1% Apr. N. Y. Lack. & W.—1st, 6 s.. 1921 J A J 133%b. 129 Jam 133% Feb
General 4%s» g .........19921H & 8!
72%
6 8 % Jan.
78% Feb. f Construotion, 5 t ........... 1923 F A A 115 b. 112% Mar. 114 May
B.& A.DIv., 1st con., 4g-1989 J Sc J 96 b. 91% Jan. 97% May , N.Y.L.E.&W.—1st,Gon.,7g. 1920 M A S 138 b. 135 Jam 140 Feb.
**
2d con .,4g..l98n J Sc J 84
82 Feb. 85% Feb. : Long Dock, eonsoL, 6 g.1935 A A O 132 a. 131% Apr. 131% Apr.
BUa. I^x.&Big.San.,c?g-1902;M Sc 8| 99 b. 98 Jan. 102% Feb. , N.Y. N. H. & H.—Con. deb. ctfs. A A O 132%b. 131 May 137 Feb.
CbiABnrl.
O.—Con. 78.1003 J
J 119%b. 115% Jan. 119% Apr. N.Y. Out, & W.—Ret. 4s, g.1992 M A S 87%
87% May 93% Feb.
Debenture, 5s............ ...1913 M A N 98
: 97 Apr. 101% Apr. II Consol., 1 st, 5s, g ........... 1939 J A D 107 b. 107 Jan. 110 Feb.
Co a ve r Uble 5s........
19C*3;M A S 101 %a. 99% Mar. 101% Feb. | N.Y.Soa.* W .lst re(.,5s, g.1937 J A J 99 b. 96 Apr. 100 Jam
Dearer Division As......1 9 2 2 ;F & A} * 95 %b. 93% Mar. 95% June f Midland ol N. J „ 6 s, g.,.1910 A A O 116 b. 113% May 118 Mar.
Nebraska .Extension, 4s.1927 M A K 89 %a. 87 % J an. 91% Feb. j Nort. Ji W.—100-year, 5s,g. 1990 J A J
60 Jan. 67 Feb,
Han. A 8 1 . Jos,—Cogs.6s.19 1 1 iM 4s Si 117%b,Ul5 Apr. 118% Jan. No. Pacitto—1st, coup. 0g.l921 J A J 116% 113% Jam 118 Mar.
CMC. & E, IlL -ls t,s . f. 6s. 1907id Sc D l l ‘j%b. 1 L2 Jan. 117% May j Do. J. P, M. & Go. Cota’s.......
113% June 114% June
ComoL 6 * ........................1934; A A O 125 b. 123 Jan. 1 2 6 % Feb. I General, 24, coup., 6 g,.1933 A A O t l l 4 b. 100 Jan. 115% May
General consol,, 1st 5s.. 1937: M A N 100 b. 99 Feb. 10*2% Apr. ! General, 34, cotip., 6 g ..l9 3 7 J A D f 71
64 Jam 8*3% Mar.
Chicago 4s Erie.—1st, 5g..l982|M 4c N 108 b. 105% Jan. 112 Feb. : Consol, mortgage, 5 g . . .1989 J A D i 48%
31% Jam i 51% Apr.
Chic. GasL. AC.—1st,5 g .. 1937 J A J 92%
90 Jan
93% Feb. ; Col. trust gold notes, 6 3 . 1 8 9 8 M A N *t 90%a. 76% Jam 94 Apr.
Chics. MIL& St. P.—C*ott.7a.l905!d & 0 ,*. 132 b. 123 Jan. 131% May
Chic. & X. Pao., 1st, 5 g,.1940 A A O i 43% t37 Jam (48% Apr.
1st, Southwest Div., 6 s ,.1909|J 4c V *110 b i!1 5 Jan. 118 May
Seat. L. S. &E., l»t,gu.0.1931 F A A 40 b. 136 Mar. (44% Feb.
1st, So. Minn. Div., 6 s .. 1910 J Sc J * 118%b!fl 1 2 % Jan. 118% June j No. Pae. &Mont.—6 g ....... 1938 M A S 37
126 Jan. (39% Apr
ist.Cb.A Pac.W. Div.5*.. 1921 J & J 115
110 Jan. 115% June | So. Pacific Ter. Co—Bg . ..1938 J A J 103%a. 100 Jam 109 June
Chic. A Mo. rtiv. Div.,5s.. 1926 J Sc J *109%a 103% Jan. 110 Apr. Ohio * Miss.—Con.s,L, 7s.1898 J A J 104%!}. 103 Jan. 104% May
Wise. A Minn,, Div , 5 g -.. 1 9 2 i J Sc J ’ 112 %a. 106 % J an. 112% Mar. Ohio Southern—lst, 6 g.,,1921 J A D 87 b. 97% Jam 94% Feb.
T e m ln A l,5 g ........-..* ,1 9 l4 ;J & 3; *112%b.; 108 Jan.
General mortgage, 4 g.,1921 M& N 29 a. 25 Jam 35 Feb.
Gen. M., 4g., series A .... 1989\J Ss J 95 %b.; 92% Apr. 97% May Oregon Irnpr. Co.—1st 6 g .. 1910 J A 1> 84
80% Mar. 917s Jam
Ml L Sc Nor.—ilteOQ,,0s. 1913 J 4c D 115%b, 115% Jan. 119 M a y
Consol., 5 g ....................1939 A A O 15
tl-t June 36 Jam
€ Me, a N. W ^-Cossot ,78.1915; Q~F *187 b.1198% May 111 Jau. Ore.R.<fcNav. Co.—1st, 6g.l909 J A J 1 1 2 % 105 J an. 112% June
Obnpoti, g o ld ,7 s .... . . . . . 1902'J & D l i e b l 16% Jtrne 120 May
Consol., 5 g ......................1925 J A D 94
(90 Jam (98 Feb.i
Sinking fund, 6 s .........1 9 2 9 ! A A O 113 1> 112 Jan. 118 Mar. Penn. Co. -4%g. coup.......1921 J A J
108% Jam 113% June
Sinkingland, 5 s .........1 9 2 9 * A Sc 01 108% 108 Jan. I l l Mar.
P.C.O.&St.Ij.,con. gu l%.1942
105% Jan. 112% Feb.
Sinking{niid,deben,, 5s. 1933jM Sc N| 109% 107% Jan. 111% Apr. Peo. Dee. A Evansv.— 6 g_1920 J A J *101%b. 101 Mar. 102 Mar.
25-yenrdebenture, 0 s... 1909;M A N ! 105 b. 103 Jan. 107 Apr.
Evans. Division, 6 g .......1920 M A S 1 0 2 a. 101 Mar. 101 Mar.
Extension, 4s................. 1920 F sc a 102 b.! 100 Jan. 102% Apr,
24 mortage, 5 g ............... 1926 1 4 N 125 a. 26 Mar. 31 Feb.
Ohio. R.I. A Pm %—6 »,coup. 19 1.71J Sc Ji L28%i». 120 Mar. 1*27% Mar Phila. ARead.—Gen.,4 g.,1958 J A J 78%
71% Jan. (80% Apr.
Extension and eoL, 5«...1934|J A 3; 101% 5.00 Jan. 1105 May
1 26%
lstp f.!n o.,o g, 1 st lost pd.’53
18% Jam (36% Jam
30-year debenture, 5s. ..1921 M Sc 8 * 94% i 9:
' 14%
Jan, : 97% Feb.
5% Jam (22% Jam
2<lpt.lno„ 5 g., lstln st pd.*58
Owe. St, P. M, Sc 0 .-0 8 .,.1 9 3 0 J A D 125 b s124 Jan. 1*29 May
1 12 %
3d pf.me., 5 g., Istin3tp<l.’ 58
3% Jan. (20 Jam
A J 75%
Chlc.AW.lntL—Gen,,gr„6 ». 1932 Q-—M j 110%b.jU0% Jan. 1118% Feb. Pittsburg & Western—1 g.1917
65 Mar. 77 Jam
A J 76
O eveiasd A Canton.—5 s ,. 1917 J & Ji f 75 b. 79 Jan. | 90 Jan.
Rio Or. Western—1st 4 g ..1939
70 Jam 77% Feb.
43 b. 40 Feb. (51 Jan
d e v , Lor. A W i« 8 il-9 «..d 9 3 3 A A 0 106%a. 104% Apr. 1 107% Mar. St. Jo. & Gi*. Island— 6 s . .19*25 M A N
V 0. C. Sc E-Consoi. 7g .,,1914 3 A Ds 131 b. 119 Jan, 131% May St, L. &San Fr.—6 g, Cl. B . 1906 M A N 115% 111% Jam 117% Apr.
General Gonsoi., 0 g -„...1 9 3 4 [3 Sc Jj 125 h. 1125 May 1*27 May
0 g., Class 0 .....................1006 M A N 115%b. 112 Jam 118 Apr,
a e.C .A S U ^ —Peo.Ak., Is 19 to! A A O! 75% ! 75%. June 80 Jau.
General mortgage, 8 g.,1931 J A J lll% b . 101 % Jam 113 May
Income, 4s. . . . . . . . . . . . . . . 1990! April.! 17 b. 18% Mar. 23 Jan.
Cons. guar. 4s, g.............1990 A A O '120 b. 23 May 38 Mar.
Col. Com A I ron—Og.. . . . . . 1900 F A A j* 90 b 94% Jan. 1 0 0 Jan. St. L. A So. W.—1st, 4s, g.1989 M A N
67%
6 7 % June 76 Feb
Col. A 9 th Ave
5*» K..1993 M A Si 113%b. I l l Apr. ■114% Feb.
2d, 4s, g.. Income............1989 J A J 25%
24% Jam 32 Feb.
Col.II.VaLA TOt.—Cou..5g.X931 M Sc to' 8 o%
83 Jan. 90 Feb. St.P.M.&M.—Dak.Ex.,0 g. 1910 M A N 116%b. 119 Mar. 121% Mar.
General, 0 g .. . . . . . . . . — 1904)3 A O 85%
1st eonsoL, 6 g................1933 J A J 124% 117 Jam 124% June
80 Jan. 90 Apr.
Den v. A lito G r. — 1 at, 7»,g. 1900; M A N 111% 110% Jan, s i l l Apr.
“
roilueedto 4% g ,. J A J 105 b. 101% Jan. 106 June
1 s t consoL,4 g .... . . . . . . . 193614 A J 1
Montana extensiou,4 g.1937 J A D 84%
84% June 89 Feb.
91
83 J an. 92 May
Dill. So. 85. A Atl.—5g. . . . 193714 A J 97 %a. 05 J an. 98 Feb. San.Aut.* A. P,—l8t,4g.,gu.’43 J A J 56 b. 51% Jam 59 Feb.
95 a. 93 Jam 97 Apr.
Edison EL. 111.—lsLcoti,g,6«,'*95|J Ss Jj 103%b,; 97% Jan, 1 0 . 1 Mar. So. Car. Sc Ga.—1st, 6 g.,.1919 M A N
Erie—4, g, prior bonds . . . »1090 jJ A J , 92
91% June 95% Feb. 8 o. Pacific, Arte. — 6 g ... 1909-10 J A .1 96%a. 94 Feb. 97 Feb.
General, 3-4, g,.. . . . . . . . . 1906!J A Jj 6114 1 63%,
I 67 Apr. So. Pacific, Cal.— 6 g . . . 1905-1*2 A A 0 110 b. 107 Apr. 111 Feb.
Ft. W. A Denv. City.—0 g .. 1921.1 A. D 1 55 to. 456 May
.
1st consol., gold, 5 g...... 1937 A A O 90 b, 90% Mar. 9*2% Apr.
II 70% Feu.
; N 00 b. 90% May 93 Jau. So. Pacific, N. M.—0 g.......19 U J A J 105% 1 0 1 % Jam 106 Feb.
V * till a.:| 85 ,Jan. ' 93% Feb. Southern—ls t cons, g, 5s.1994 J A J 92%
87% Jam 94% Mar
: O 69 to. 68 Apr.
91 b, 90 Mar. 93% Feb.
71 Apr. ;i E. Team reorg. lien 4-5a. 1938 M A
.
.Illinois Central.—I s , .1953!51 A, w!
99 Jan.
,
1102
Feb. ■I E. T. V.AG.—1st,7 g . . . . 1900 J A J 111 b. 107 Jam I l l June
Western Lines, 1st, 4s, g. 1951 jF A A' '10'iUjb. 101 Mar. 1103 % J an. i:
Como e .........................1956 M A N 106% 105 Jam 109% Apr.
latA G reat Nor.—lst»6 a.g, 1919 M A. N;*115 to. 115 Jan.
1118% Apr. | Georgia Pao. 1st5-6s,g.,1922 J A J 113 b 110 Jam 114 Jam
*
24, 4 - S » , . . . l O O O f M A; 8 71 %b. 70 ,Jan. ; 77% Feb. .! Knoxv. A Oltio 1st 6 s,g .. 1925 J A J 116 a. 113 Feb. 110 May
90ia Jan. 97% May :i Rloh, ADanv. com 6 s,g.. 1915 J A J 120 %a, 115 Jam 120% May
Iowa Oeotral.—1st,5g-.. . 193*8!J ; D 9-110
Kings Co. Elev.—1st*5g..l925iJ A; J 00 b. 60 Apr. 71 Jan. I! Wo8 t.»o,Carlsteom 6 s,g 1914 J A J 112%b. 1 1 * 2 June 114 Apr.
90 Jan. jj Tenm 0 . 1. A By—Ten. D.lst, 6 , A A O • 86 a. 89 Jam 93 Fem
.
Laclede On#.—1st, 5 »,g ...l0 1 9 ] Q- •i? ( 92%b l 91 May
Birmingham Dlv., 6 J ...1 0 1 J A J 89%
89 Jan. 95 Feb.
Lake Erie A West. —5 g ... . 193719 A; j ; 117 ■s 113 Jan. 117% June
81 Jam 91 Apr
L. Shore. —OoB,ep.. 1st,7s. 1000* J A; .1 11*1 to. lll2 -Jan. 115 Jan. Texas A Paetttc—1st, a g .. 2000 J A D 85%
24% Feb.
18 Jam
; D n e% b . 1118*2 June 120% Mar. 11 2d, iuooum 5 g ............... 2000 March 20%
Consol, coup,, 2 d, 7 a .....l9 0 i
Jan. I I I Fell. Ij Toledo as Ohio Cent.—5 g. .1935 J A J 109 b. 105% Jam 109% June
m
Lex. A v. A Pav. F. gu. 5s,g. 1993;M A: 81 114
(70 June i 77 Feb.
Long Island.—1st eon., og. 10311 Q- -J 110 1ib. 117% Jan. 120 Feb. Tol. St, L. A Kan. O.—0 g...l0 1 6 J A D 70
General mortgage, 4g. ~.1938! J 4 ; D 94 a.. 93 Mar. 98 J an. Union Pacific— 6 g ..............1898 J A J T04%b. 102 Feb. 107 May
Louis,. A Nash.—Cons. 7a.. 1898! A A5 O 105 %b. 101*4 Apr. 108% Mur. I Ext. sinking fund, 8 ....... 1899 M A S * 9 5 a. i 90 Jam 97% Feb.
Collateral trust, 4%___.1918 M A N t 45%b.l (48 May (54% Feb.
N. O. A Mo die, 1st, 6 g . .. 1930 J a: J 117 to. 118 Jan. 119 Feb,
**
“
2 d. 6 g.
1930 J A; J 100 b. 9 7 Jan. 102% May ;| Gold 6 s, col. trust notes. 1894 F A A 97 b.; 91% May 98 Jam
; Oi 115 to. 114 Jan. 117% Apr. sj Kail. Pac.-Den.JMv.,0g.l890 M A N I l l b. 106 Jam 111 Apr
68% May (77% Feb.
1st eonaol., 0 g . . . . ....... 1919 M A N 1 70%
80% Feb.
: J 77 b. i 71%
0ld.ri.ed, 4g.......... ..1940 J
Oregon Short Line— 6 g.1922 F A A flll% b . (100 Jam 115 Apr
113% Feb.
Louts,M, A. ACb,—ls:t,6»..1910[J ; Jl 111 a. 111%
A
A
O
Or.S.L.*Ut*hN.—Com,5gl919
t 64%b. 151 Jam (70 Feb.
103 Feb.
C n n s o l» ,6 g ........ . . . . . . . . 1916j A ; o; *100 B. I 99
31% Jam 40% Apr
U. P.Deu. A Galt,com,5 g.1939 J A D 36
9 9 % Mar.
s Of * 97 to. 94%
J
A
J
28% . 25% Juno 136% Feb
120 J une U. S. Cord.—1st ool., 6 g — 1924
116%
1008 jJ A ; J 120
Metro. Elevated.- ■1st,
97 Jan. 105 Apr
: N: 1 0 5 ;*8to. 105 May 108 Apr. Virginia Mid.—Geu.M., 5S.X936 M A N 100
2 d, 6 s.
Wabash—1st, 5 g ...............1939 M A N 105% 102% Jam 109 Apr
: S| 115 %b. 115 May 119 Jan,
69 Jam 77% Feb
24 mortgage, 5 g............. 1939 F A A 74
; N 110 A. 105 May 108% Feb.
Consol., 5 s............ ......1 9 0 5
; >*! 1 2 9 :kto. 129% Jan. 132% Apr. J WestN. Y ?A Pa.—1st, og . 1937 J A J 107 %b. 105% Jan. 108% May
Mil. Lake 8h. Sc W. -lgtjJg. 1921
_____Apr.
■
49% Feb.
43%
Extea. A Imp., 5g. .....1 9 2 9 F A: A 11A1 111 Feb. 115% May II Gem 2-3-4S, gold........... 1943 A A O
96% Jan. 103% Apr. [I West.Un.Tel—Col, tr. 5s.. 1938 J A J 107 b. 105 Feb. 1108 Feb.
Minn.A8 LL.—1 st eon,5s,g,1934 51 ; N 100
131 J u u e (4 6 __ Feb
9 4 F eb . si Wise, Cent. Co. 1st 5 g...... 1937 J & J t 34
86 Jan.
Mr. K. A E.—-1st 5a, g., guLl942'A : O 92''9
Nurg.—*‘ b" indicates price bid;

* price asked; the range Is tnado up from actual sales only.

* Latest prloe this week.

( Trust receipts.

XBVV YORK STOCK EXCHANGE PRICES—(Continued),— INACTIVE BONDS -JUN E 12
SECURITIES.

Kail road Honda.
t Sioek Mxeh/snge Prices.)
!
Alabama MIA, -1 s t .g., guar.-15)28!
Atom Topeka V San Krum Cftteago Sc St. Ton.-—1st, 6a, 1915
OBI. MM. lit, g „ 8s............. 1036
Atl. * Pao.—*24 W, (>., go. 6 s.1907
Western Division iricoun1.. i 9 i0
Bait * Ohio- 1st, «»„ Park B.1019

Bid.

Ask. i

SECURITIES.

Bid.

Ask. I

SECURITIES.

Bid.

Ask.

___ 97 |iBrunswick * W’n—1st, g., 4s. 1938
i Bait. & Ohio—os, g old .............1925
9 9
Cons, mort., gold, 5 S ........1 9 8 8 *102%........ Buff. Rock. & Pitts—Gem 5s..1937 97
........
i .........
Koch. & P., 1st, 6s...............1921
W Va. A Pitts.—1 ft,g.. 5s..1990
116%
Rooh. & Fitts.—Cons.1st,Ss.1922
B. & O. S. W.. 1st, g., 4% s.. .19901 ........ I.........
Mouon. River, 1st, g., g. 5S..1919 ........ |.........|Buff. & Suaqueh.—1st, 5s, g.,1913
Ceni’i Ohio Boor.—1st,4%S. 1030 ........ i......... Burl. Ced.Rap. &No.- 1st, 5S-1H06 106 10o%
Ak.<fcOh.Jimo.—ist,g,5s,gu_l»30 ........ ........ ! C on sol.* eoUat.trust, 5s.. 193 4 101
I Brooklyn Elevated—2d, 5 s.-.1915 SO I........|i Minn. & St. L.—lkt, 7a, gu .. 1927
'%
1 I Seaside* B,B.-lat.g.5«,gn.l942 ........ I........ Ii Ceil. Rap. I. F. & N „ 1st, 68.1920 105
1st, 5s........... •
.....................1921 1 0 2 %
.........IIOS jIBr’ Kiyii Rap, Trim.—Gold, 5s. 19151 78%; 80 II

THE CHRONICLE.

10S0
N EW

[VOL, LX11.

f O H K S T O C K . E X C H A N G E r B I C E S . — INACTIVE B O N D S — r O o n tin u ed J — J U M E

SECURITIES,

Bid.

Ask

SECURITIES.

Bid.

Ask.

SECURITIES.

12.
Bid.

A sk,

Evans. A Indian.—1st, o on s ..1926
Northern Paciflo—
O.OW 0 - C 0 I. *C ln .M .lst,4 *js.l9 3 9
C. d’ Alene—Gen. 1 st,g., 6 s ..1938
Flint A P. Marquette Uent. R R . A Back. -C o l. g .5s,1937
M ort., 6 p.................... ............ 1920
Cent. W ashington—lst,g .,6 s.l9 3 8 *
115
40
Cent, o f N. J .-C o n v . deb., 68.1908
Norfolk A South’n—1st, 5s,g. 1941 103 110
1st, con. gold, 5 s...................1939
Cent Paciflo—Gold bonds, 6e,1896 102*2
Pt. Huron D iv.—1st, 5 s ___193S
Norfolk A W e s t Gold bonde, 6 s...................... 1897 102*2
General, 6 s .......................... ..1 9 3 1 123
Fla. CeD A Pen.—1st g. 5s— 1918 103
San Joaquin Br., 6 s ..............1900 102
New R iver 1st 6s..................1932
81
1st eon. g., 5 s ........................1943
Mort. gold 5 s......................... 1939 *90
53*3 61
Im p. A E xt., 6s....... ............... 1934
Ft. Worth A R. G.—1St g., 5 s ..1928
Land grant, 5s, g ...................1900 *95
Adiustment M .. 7 s ................ 1924
Gal. Har. A San Ant,—1st, 68.1910
Cal. A O. I3iv„ e xt., g. 5 s .-.1918 102
Md. A Wash. D iv.—lst,g .5 s.l9 4 1
2d mort., 7 s ............................ 1905
97*s ........
West. Pacific—Bonds, 6 s __ 1899 103
86
Ga. Car. A N or.—1st, gu. 5s, g.1929
Soloto Val. A N. E.—1st,4s,.1990 *80
No. Railway (Cal.)—1st, 6 s. 1907
Grand R ap. A Ind.—Gen. 5 s .. 1924
50-year 5 s.......... ............... 1938 ■9 2 "
......... Ohio A Miss,—
Consol. 7s................................1898
J05
Clies. A O.—Pur. M. fund, 6 s .1898 106*e 106*8 Housatonfc—Cons, gold 5s___1937 ii22*3
95
2d consol. 7 s .......................... 1911
N .H aven ADerhy, C ons.5s..l918 113
Craig V alley—1st, g., 5s
1940
Hous. A T . C.—Waco A N. 7S..1903 125
Sprlng.Di v.—1st 7s............... 1905 101
Warm Spr. V aL, 1st, g. 5 s ..1941
General 5a............................... 1932
1st g., 5s (int. g td i................ 1937 109
0 les. O. A So.West.—1st 6 s, g.1911
Ohio R iver R R .—1st, 5s.......... 1936
Cons. g. 6s (int. gtd) —......... 1912 100
id , 6 s....................................... 1911
85
Gen, g .,5 s ................................1937 *88
Oh. V .-G e n .o o n .lst,g u .g ,58.1938
Debent. 6s, prim A int. gtd.1897
85
46
Omaha A St. Louis.—1st, 4 s ..1937
Debent. 4s, prin. A int. gtd.1897
Ch'oago & A lton—8 . F ., 6 s ___1903 114*2
Oregon A Califor.—1st, 5s, g .1927
Illinois Central—1st, g., 4>...1951 112 115
Louie. A Mo. R iver—1st, 78.1900 i l l
61
id , 7 s.................................... 1900 108 11 2 % 1st. gold, 3*ss........................1951
106
Oreg. R y A Nav.—C ol.tr. g..5s.l919
61%
Gold 4s....................................1952 i o T
St. L. Jacks. & Chic —2d, 7S.1898 ".371s
Penn-P.C.G.ASt.L.Cn.g.4*ssA1940
2-10 £., 4 s ...............................1904 * 9 3
Do
do
Series B ....... .
M1SS.R. Bridge—1st, s. f „ 68.1912 104*4
99*4
P .O .A 8.L .-lst,0.,7s................ 1900
O lio. Burl. & Nor.—1st, 5 s ....1 9 2 6 103*4
Cairo Bridge—4s................... 1950
Pitts. Ft. W. A C.—1st, 7 s ...1912
Springf. Dlv.—Coup., 6s___ 1898
Debenture 6 s .........................1896
2d, 7 s ...................................1912
Middle Dlv.—R eg., 5s.......... 1921 110
Ohio. Burling. & Q.—5s, s. f.,1 9 0 1 103
3d, 7 s .................................... 1912
Iow a Dlv.—Sink, fund, 5 s ..1919 106*4
C. St. L. A N . O.—T en .1.,7 s .1897
98*4
( Ih.St.L. AP.—1st,eon.5s,g... 1932 *115*s
1st, consol., 7s.....................1897
1919
Sinking fu n d ,4 s ............
Plain, 4 b.................................. 1921 ♦89
Gold, 5s, c o u p o n ................1951
Clev. A P .—Cons., s. fd ., 7 s .1900 113>s
107%
91
Chicago & Iow a Div.—5 s ... 1905
Gen. 4*28, m, “ A .............1942
Memp, D iv., l s t g . 4 s....... 1951
101
Calc. & Indiana Coal—1st 58.1936
St.
L.V. A T . H .—1 s t ,6 s.,7 s. 1897 104 105
Ced. Falls ArMkm.—Is t. 7 s.. 1907
2d, 7 s.................................... 1898
Ind. D. A S p r ,-3 s t 7s, 1906, trust
Ohi. Mil. A St. P.—1st,8s,P .D .1898 108
2d, guar., 7s.........................1898 103*2
26
r e cts., ex b o n d s............................
2 1 ,7 3-IO s, P. D ................... 1898 126*8 128%
1st, 7s, $ g., R .D ................... 1902 127
Ind. Dec. A W.—1st, g., os___1935 100 101*2
G d.R .A I.E xt.—1st,4*28,G.g.1941
Peoria A Pek. Union—1st, 6 s . 1921 110
1st, I. A M .,7 s .......................1897 *126 128
Ind. His. A Iow a.—1st, g, 4a..1939
"95
1 t, I. & D .,7 s .......................1899 126*8 129
2d m ortg., 4*28.......................1921 *73
1st, ext., g. 5 s........................1943
1 <t C. & M., 7 s...................... 1903 127
Int. A G. N’m —3d, 4s, g ....... .1921
Pitts. Cleve. A Tol.—1st, 6 s... 1922
1st, I. A D . Extension. 7s. ..1908 133 134
Pitts. A L . F .—2d g. 5s, “ A ” . 1928
Kings C o.-F .E l.,lst,5,g.,gn.A .1929
111
1st, La C. & D av., 5 s.............1919
Lake Erie A W est.—2d g., 5s. 1941 100 102*2 Pitts. Me. R A Y.—1st 6s___ .1932
1st, H .A D .,7 s ..................... 1910 127*s 128%
70
Nortli’n Ohio—1st, gu. g. 58.1945
103*2 Pitts. Palnsv. A F.—1st, 5 s ... 1916
80
1053!
1st, H. A D .,5 s ..................... 1910
L. 8. A M .Sou.—B .A E .—New7s.*98 105
Pitts. 8hen. A L .E .—1st,g .,5 s.1940 *87
89%Chicago A Paciflo D iv., 6 s ..1910 118
1st consol. 5 s . . . ..................... 1943
Det. M. A T.—1st, 7s............ 1906 123
Mineral P o in tD iv . 5 s.......... 1910 106
Pitts. A West.—M. 5s, g.1891-1941
30
Lake Shore—Div. bonds, 78.1899 107*2
35
O A L. Sup. D iv., 5s............ 1921 109 111
P itts,Y ’gst’nA A .—1st, 5s,con.l927,
Kal. A ll. A G. R .—1st gu. 5S.1938 >112
Fargo & South., 6 s, A s s u ...l9 2 4 113
R io Grande So.—1st, g., 5 s ...1940
Mahon’g Coal R R .—1st, 5 s .1934 115
65
Iuo. oonv. sink, fund, 5s___ 1916 100
St. Jos. A Gr Is.—2 d in e ......... 1925
Lehigh V..N .T.—1st gmg.4*8S.1940 101*2
Dakota A Gt. South., 5 s . ...1916 108
Kan. C. A Omaha—1st, 5 s ..1927
20
Lehigh V.Term .—1st gu, 5s,g. 1941 *109 110
MU. A Nor. m ainline—6 s ...1 910 115‘a 116
Lehigh V ’y Coal—1st 5s,gu .g.l933
St. L. A. A T. H .—Term. 5 s ..1914 101*2 105
Oh'o.&Norw.—30-year deb.5s.1921
Lltckf. Car. A West.—1st 6s. g.1916
Belley. A So. III.—1st, 8 s ...1896 102
Eicanaba A L. 8 .1 s t, 6S ....190 1 110
Bellev. A Car.—1st, 6s..........1923
Little R ock A M.—1st, 5s, g ..l9 3 7
D ssM . & Minn.—1st, 7 s___1907
L ong Island—
Chi.St.L.APad.—1st,g d.g.581917
117
Iow a Midland—1st, 8 s.........1900
1st, 7 s ..................................... 1898 *105
St. Louis So.—1st, gd. g. 4s. 1931
Ohio. A Milwaukee—1st, 7s. 1898 107*8
91
Ferry, 1st, g., 4*ss................ 1922
do
2d Income ,5s. 1931
Win. & St. P.—2d, 7s............ 1907 124
Car. A S haw t.—1st g. 4 s___ 1932
Gold 4s.................................... 1932
84
MU. & Mad.—1st, 6 s............1905 115*2 117
St. L. A S. F .—2d 6 s,g., cl. A . 1906 115% 1 1 5 %
N. Y. A R ’way B.—ls t ,g . 5 s .1927
Ott. C. F. & St. P.—1st, 5 s. 1909 107*8
42%
General 5s................................1931 *
35
2d m ortg., in o..................... 1927
9 8 7e
Northern 111.—1st, 5s..........1910 107
1st, trust, gold 5s............... 1987 *85
N.Y.AM an.Beach.—1st, 7s, 1897 *100
Mil. L. 8 . AW.—C on.deb.,5s.1907 105
Kan. City A 8 1st, 6s, g . . . 1916
N .Y.B.AM .B,—1st con. 5s,g.l9 35 102
Mlcli. D lv., 1st, 6 s..............1924 131
Ft. 8. A V. B. B g .- l e t , 6s. ..1910 100
B rookl’nAMontauk—1st, 6s. 1911 *114
130
Ashland Division—1st, 6 s 1925
1st, 5 s ..................................1911
Kansas M idland—1st, 4s, g.1937
.........
88
Oh.R.I.AP—D .M .A F .D .lst4s.l9Q 5 *85
St. Paul City R y, oon . 5s, g ... 1937
No. Shore Br.—1st con.5s,g.l932
1st, 2*23............................... 1905
65
Gold 5s, g u a r .........................1937
Lonis. Evans. A St. L.—Con.5s.1939
82
Extension, 4 s.....................1905
St. Paul A Duluth—1st, 5 s___ 1931 *108
Louis. ANash.—Cecil. Br. 7 s ..1907 *105
——
Keokuk A Des M.—1st, 5 s ..1923 102 105
2d m ortgage 5s.......................1917
115
E. H. A N ash .—1st 6s, g ___ 1919 *
Chic. St. P. A Minn.—1st,6 s ...1918 128 129
St. Paul Minn A M.—1st, 7 s.. 1909
Pensacoia D ivision, 6 s ......1 9 2 0 *106
St. Paul A S . C.—1st, 6 s ....... 1919 128 129%
2d
m
ort.,68..............................1909
St. Louis D ivision, 1st, 6 s ...1921 *120
117*4 118
O lio. A W. Ind.—1st, s. f., 6 s.l9 1 9
M inneap. U nion—1st 6 s___ 1922
2d, 3s....................................1980
125
General m ortgage, 6 s.......... 1932 116% i l 7 “
Mont. Cen.—1st, guar., 6 s ..1937 117
Nashv. A Decatur—1 at, 7 s.. 1900 i n
—
Chic. A West. Mich.—o s .........1921
1st guar. g. 5 s..................... 1937 101*2 102
S. f„6 s .—8. A N. A la .............1910
Oin, Ham. A D.—Con. s. f., 78.1905 119
East. Minn., 1st div. 1st 5 s .l9 0 8 105*4 106%.
50-year 5s, g .,........................1937 *96
i d , gold, 4*28.......................... 1937
W ilm arASiouxF.—1st, g,5a,193s
Fens. A A t . - 1st, 6s, g o ld ... 1921 *98% 100
Cln. D. A Ir’n—1st, gu. 5s, g. 1941 107% 108
San Fran, A N. P.—1st, g., Ss.1919
102
CoUat. trust, 5s, g ................1931 100
0:ev. Ak. A Col.—Eq. A 2d 68.1930
Sav.Fl. A West. —1st, eon.g. 6s. 193 4
^L.AN . A M.AM.—lst,g.,4*ssl945 104
0. C. C. A St. L.—Gen., g. 4 s .. 1993
85"
Southern—Ala. Cent., 1st tis.1918 107 n o
Naah.Flor.A8.—1st, gu., 5s. 1937
Cairo division, 4 s..................1939
A tl. A Char.—1st, p ref., 7 s ..1897
8$
Kentucky Central—4s, g ..1 987
92% 93
SU.Lou.Div.—I s t c o it s ’t4s,g.l990
Incom e, 6 s.......................... 1900
Lou.AJeft. Bdge Co.—G u.g,4s. 1945
Spring. ACol.Div.—1st,g. 4s. 1940
Colum. A Green.—1st, 5-68.1916
69
LomN.Alb.ACh.—G en.m .g.5s.l940
White W .Val.Div.—1st,g. 4s. 1940
E. Tenn.V. A Ga.—Diyls.Ss 1930
Memphis A Chari.—6s, g o ld ..1924
0 n.Wab.AM.Div.—lst,g.4s,1991 *90
R ich.A Dan.—Eq. s. f. g. 53.1909
M exican Cent. Consol.—4s, g.1911
98 100
Oln. I. St. L. A C.—lBt,g.,48.1936 98
Deben. 5s, sta m p ed .........1927
1st, cons, incom e 3s, g___..1939
C on sol, 6 s............................... 1920
V ir’a Mid.—Serial ser.A , 6s. 1906
Mex. International—1st, 4s,g.l9 42
Oin.8 an.ACl.—C on.lst,g. 5 s, 1928 107
Series B, 6 s.......................... 1 9 1 1
M exican National—1st, g., 68.1927
Indiana B. A W.—1st, nf.7s.1900 108
Series 0 , 6s.......................... 1916 115
2d,inoom e, 6s, “ A ” . . . . ....... 1917
Ohio Ind.AW.—I s tp r e f.5 s ..l9 3 8
Series D , 4 -5 s ......................1 9 2 1
2d, incom e, 6s, “ B ” ............ 1917
*6
7*4
90
C. Col.Cin. A Ind.—1st, 7s,s.f.1899 108 108*s M ichigan Central—6s..............1909 118*2
Series F, 5s.......................... 1 9 3 1
95
Consol, sink, fund, 7s.......... 1914
Coupon, 5s.............................. 1 9 3 1 115
Wash.O. AW.—1st cur.gu.4s.1924
80
78
Cln.ASpr.—lst,C .C .C .A 1.7s.l901
M ortgage 4 s ........................... 1940
Ter. A s’n o f St. L.—1st, 4*28.1939 105
108
Cleve. Lorain A Wh.—1st, 5 s .1933
106%
1st, oon. g. 5 s.............. 1894-1944 104
Bat.C.AStrgis.—Ist,3s,g.gu .l989
Cleve A Mah. V .—Gold. 5 s ...1938 118%
Minn.A St. L.—1st, g. 7 s.........1927 140
8t.L.M er.B r.Term .,g.5s,gu..l930
Del. Lack. A W .—
Iow a Extension, 1st,7s.......1909
Texas A N ew Orleans—
130
Mort. 7s...................................1907 126%
1st,7s........................................ 1905 108
Southwest E xt.—1st, 7s.......1910
8 yra. Bing. A N .Y .—1st, 78.1906 123%
SaDine Division, 1st, 6s....... 1912
Pacilio E xt.—1st, 6 s .............1921
121
Morris A Essex—1st, 7s___1914
M o.K .A T ex.—1st, ext., 5s, g.1944
Consol. 5s, g ............................ 1943
95
Bonds, 7s.............................1900 114
Tex. A Pac., E. D.—1st, g. 68.1905 107*2
Mo.K. AT.of T ex.lst,gu .5s.g.l9 42
75
7s of 1871............................1901 115 115*8
Kansas City A P ., 1st,4 s,g .. 1990
Third Avenue (N.Y).—1st 5s, 1937 120 121*8
65
75
1st, con., guar., 7 s............ 1915 138% 140
T.AO.O.—K an .A M ., Mort. 4S.1990
Dal. A W aco—1st, 5 s ,g u ..,.1 9 4 0
77*s
82
W arren~2d, 7 s ..................... 1900 1 1 1
Tol.P.AW .—1st 4s,ino.f’d.cou.July
M issouri P aciho—Trust 5 s .. 1917
80
78
77
D. AH,Can.—Pa.D lv.,coup.7s.1917 140 144
1st ooll., 5s, g ........................ 1 9 2 0
Ulster A D el.—lst,oon .,6 .,5s-192 8
1 0 2 *3
62
50
A lbany A Susq —lst,g u .,7 s.l9 0 6
127%
St L.A1. M .-A rk.B r., 1st, 78.1895
Union Paciflo—1st, 6s........ ...1 8 9 6 103*2
1 st, cons., guar., 6 s....... ..1 9 0 6 116
119
M obile A Ohio—1st ext., 6 s... 1927
1st, 6s.......................................1897 103*2
115
Bens. A Bar. 1st, ooup., 7S.1921 114>s
St. L. A Cairo—4s, guar....... 1931
1st, 6s...................................... 1899 105 106
Deny. Tramway—Cons. 6 s, g.1910
Collateral Trust, 6s...............1908 *95
Morgan’ s La. A T.—1st, 6 s ....1 9 2 0 >116
MetropoL Ry.—lst.gu . g.6s,1911
1st, 7s.........................................
Collateral Trust, 5 s.............. 1907
125*2
Deny. A R. G.—Im p .,g ., 5 s . ..1928
84
Nash. Chat. A St. L.—2d, 6 s ..1901 104
Kansas Paciflo—1st 6s, g . ..1 895 110
Det.M. A M .—L. g. 3*ss,ser.A.1911
18
1st, 6s, g ......... ..................... 1896 111 112*3
N. O. A. No. E.—Pr. L, g., 6 s..1915 107
Det. A Mack.—l e t lien, 4s,g.. 1995
C. Br. U P. - F . 0 ., 7 s.......... 1895
N.
Y
.
Central.—Deb.
g.
4s___
1905
101*2
40
4s, gold .................................... 1 9 9 5
Atoh. Col. A Pao.—1st, 6 s... 1905
N. J. June—Guar. 1st, 4 s ... 1986 >103*2
32*2
D lluth A Iron Range—1st 5 s.l937 >100
Atoh. J. Co. A W.—1st, 6 s... 1905
Beeoh Creek—1st, gold, 4 s .. 1936 107
Erie—1st, extended, 7 s.......... 1897 103*8
U. P. Lin. A Col.—1st, g., 5s. 1918
1
V B- 8*>gU.1915
2d, extended, 5s..................... 1 9 1 9 1141*8
Utica A Bl. Riv.—4s, g „ gu.1922
Utah A North.—1st, 7s........ 1908
3d, extended, 4*28................. 1 9 2 3 105*8
N. Y. A Put.—1st, g., 4a. gu.1993 106
Gold, 5 s ................................ 1 9 2 6
4th, extended, 5s................... 1920 114
»• l - N .H . A H .—1st, ’r eg.
1903
Utah Southern—Gen., 7s ..1 909
5th, extended, 4s................... 1 9 2 8 100
Extern, 1st, 7s....................1 9 0 9
N. Y. A Northern—1st, g. 5 s ..1927 115
1st, con., g „ f ’d, 7 s ...............1920
V alley R ’y Co. o f O.—Con. 68.1921
N. Y . Susq. A West.—2d, 4 *ss.l937 68
B. N. Y. A E.—1st, 7s.......... 1916 * i3 i* s
Wabash—Debenture, Ser. A ..1939
5s, g ................... 1940
68
70
Bufl. A 8. W.—Mortg. 6e___ 1908 *102>s
Wilk.A
East.—1st,
g
td
.,g.5
s.l942
Debenture, Series B ............ 1939
Jeflerson—1st, gu. g, 5 s ___ 1909 105 106*8 Northern Pae.—
......... 85*2
Det. A Ohio. E xt. 1st, 5s, g .,1 9 4 0
Coal A RR.—6 s....................... 1 9 2 2
JameBRiver
Val.—1st,
6
s
...1936
St L.K.C.AN.—St.C.Bdge6s,1908
Dock A Im p t.,lst6 e , our’ oy.1913 *107*8
Spokane A Pal.—1st, 6s.......1936
West N.Y. A Pa.,gen.g. 2-3-4s l9 4 3
83*s 84
E vans. A Terre H a u t e St.Paul A N. P —Gen., 6s. .1923
Incom e 5 s............................... 1943
1st, cona., 6e.......................... 1921 109*8
W est Va. C. A Pitts.—1st, 6s. 1911
HelenaARedM ’n—ls t ,g „ 6s. 1937
25
le t, general, g ., 5 s ................ 1 9 4 2
DuluthAManitoba—lst,g .6 sl9 3 6
Wheel.AL.E.—1st. 5s, g o l d ...1926
87
Mt. Vernon 1st 6 s ................ 1 9 2 3
Dul.AMan
D
a
k
.D
iv
.-lst6
s.1
9
3
7
E xtension A Im p, g., 5s.......1930
90
87
SnL Co. Br. 1st, g, ,5 s ...........1930
Omur d’ Alene—1 st, 6s. gold. 1916
Wis. Cent, inoom e 5 s .............. 1937 *.........
9*«

86

No rrice I rldny, these are the latest quotations made this week. F o r M iscellan eou s a n d U n listed B o n d s—See 3d page preceding.

THE CHRONICLE.

JUNE 13, 1896.]

B O AD S.

In v e s tm e n t

Railroad intelligence*
EARNINGS.

The following table shows the gross earnings of United
8tates railroads (and also a few Mexican and Canadian roads)
for the latest period reported. The statement includes every
steam road from which regular weekly or monthly returns
can be obtained. The first two columns of figures give the
gross earnings for the latest week or month, and the last two
columns the earnings for the calendar year from January 1 to
and including such latest week or month.
T h e r e tu r n s o f th e s tr e e t r a ilw a y s a r e n o t in c lu d e d i n th is
t a b le , b u t a r e b r o u g h t to g e t h e r s e p a r a t e ly o n a su b s e q u en t p a g e .
Ro a d a

Latest Grose Earnings
Week or Mo

Adirondack.......April

Ai&.<Jt.6out«... 1st w kJ'ne

1896.

1895.

$
i~ S
14,738
11,181
25,317
24,049
47,013
38,501

Latest Gross Earnings.
WeeleorMo

AND

RAILROAD

1081

Jan. 1 to Latest Date.
1896.
$

61,198
886,048
166,044

1895.
*
67,500
606,223
122,620

Ala. Midland...!March.......
Ala. N. O. Tex. A Pac. June.
X. Ori. A N. E. Mar..........
97,143
95,001
530,2=8
521,322
Ala. A Vloksb. May. . . . . . .
32,999
35,746
214,074
200,148
Vloks.Sh. A F. May..........
45,230
38.579
214,615
207,193
Allegheny Val.. A pril..___ 193,124 206,955
754,985
745,923
Ann Arbor........ list wkJ'ne
20.039
477,487
17,728
438,364
Are. Midland.. . |March... . .
7,147
23,532
8.331
23,563
Atoa.T. A S.F e April........ 2,203.270 2.330.391 9,171,549 8,983,583
Atlanta & Otar. March___
128,857 135,806
385,026
374,519
A t l a n t a t f f . f April........
35,188
172,014
32,811
150,578
Atlan. A D&nv.. Ut wW'ne
9,644
14.454
235,307
230,037
Atlantic A Pat tniwk.May
98,627 123,744
Angus ta 8o ur u.I February,.
8.19"
13A40
3.331
"6,873
Austin A N’ weat March.......
19.614
58,831;
19,273
48,869
BaihOhe*.* Ath.; A p ril.........
35,553
35,632
112,869
107,979
B.AO.East Lines |January... 1,385,877 1,229,219 1,385,877 1,229,219
Western Lines; January... 143,088 460,216
443,068;
469,216
T ota l.......... April .. . . . 1,866,416 1.737.392
*»1.<3eG.8 ou'w 1st wkJ’ ne 108,472 112.314 2,584,504 2,634,807
BaogorAAroost. A p r il......
68,240
237,5121 244,357
70.909
Bath A Ham’nd* M a r c h ..,..
1,352
1,784
5,536
5,140
Blr. A Atlantic.. [stay. .........
1,678
1.332
8 , 888 ;
6,654
Brooklyn Kiev.. SKI, 8r kke T R ulvv A T LIST.
Brunsw*kAWe»t IFebruary..
. I
96.022
76,862
32,248
Bofl.Boch.APr.t t.t wkJ’ne
74,333j 61,117 1,325,063 1,215,300
Buffalo A SU'*'i . 1April........
40.403
31,510
Bar.O.Rap.A > . tthwkatay 118,8831 105,523 1,760,827 1,441,895
Camden A AU.-iApril.
72,118!
201,855;
66,520
194,089
CanaillauPablnt i«r. wkJ’ ue 403,000 358,OOc 7,860,562; 6,401,371
Oar. Midland__ May............
2,317
2.011
13,889
19,120
Cent, o f Georgr a Apr I........
.
331,946 1,748,591 1,494,585
Central of .V.3 . . April........ 947,807 1,010,401 3,712,9731 3,705,417
Central Pacific March,__
953,150 1,014,879 2,089,880 2,637,829
Char. Cl. A Sut..’April........
5,403
17,710.
11,078
3,838
CBUkrteet'nASav. |March.......
56,387
177,73?
153,263
51,443
(Bum. A Ohio— list wkJ’ uo 168,851 179.906 4,300,137 3,99 5,251
Che».O.ASo.W.. M ay..___
179,201 194,595
938,347
908,084
Chiu,Bur AQ.it April........ ,511,758 2,477,509 10,415,921! 9,560,184
Chlc.AEast.in 11 st wkJ'ne
70,320
77,799 1.660.895 1,530,451
Ohlc. <»t. Weat'n iat wkJ'ne
81.615
68,189 1,974,315 1,424,617
£»tlo.MU.A SA P 1st wkJ'ne 580,772 538,365 12,589,936 10,814,778
Ohlo,AN'tbw'n. April........ 2,4 10,680 2,138.256 9,888,971 8,174,141
Ohiti.Peo.&Stij. UtiwkMuy
15,31-1
394,009
21,180
361,469
AJhie.R’ k l.A P ..,_
_
1,201.342 1,187,213 5,938,300 5,638,367
May..........
Oblo.St. P. a t AO. IApril
506,273 406,348 2,265,558 1,897,337
Ohio. A W, Mich .list wkJ’ ue
28,026
026.303
679,974
28,486
Cla.Oa. A Ports. IMay..........
5.145:
23,781
24,203
5,259
OlnuJ aok.A Mao. ithwkM ay
18,835
281.339
14,407
231,098
Oln,N.O.AT.P. May.......... 263.105 273,813 1,349,189 1,363,392
Cln. Ports. A V . May..........
98,834
21,105
22,188!
109,570
Olsv.Can, A 8 0 .. ithwkMay
22,436
263,149
241,039
14,791
OuCln.Ch.AShX Hhwk>Xay 370,191 893,384 5,150,677 5,412,465
Pea, A East’n . AprU........
130.105 149,441
578,262
560,427
Cl. uor.A Wheel. vat wk.l!;,
564,602
22,226
31,308
486,530
Ool, Midland— May.1........ 166,018 154,192
.653,192
777,930
Ool. H .V .A T oi May.'........ 180,512 124,843 1,025,297
875,867
OoXSend'yA E. lat'wkJ'ne
310,913
15,418
292,109
8,113
Colusa A Cake . May..........
4,800
1,300
6,300
1,800
Crystal............... March........
1,14,
3,338
2,280
393
Camb’ l'd Valley, A pril........
64,780
249,049
230,789
60,045
Benv, A Rto Or I t*t wkJ'ne 139,200 129,200 2,937,578 2,746,123
Dm M. A Kan. C.lltbwkHay
43,054
2.708
34,412
2,141
I)es M. S. A W. .May.........
31,165
177,166
122,364
28,155
Bet.iaine'gAUo. 1st wkJ’ne
•20,025
469,363
20,358
442,295
X>et. A Mackinac April........
175,942
93,304
44,904
23,803
Dnlat.'m.n.AAt;. uhwkMay
793,470
77,701
718,290
67,840
BlglnJoXABasl May....... .
96,5-9
543,345
456,970
91,313
Erls,..................April.......... 2,389,850 2,264,080 9,288,866 8,802,710
Eureka Springs. March.......
14,408
5,180
14.578
5,461
Brans. Afnd'pii- 1st wkJ'ne
123.339
5,324
120.985
4,819
Brans. A Rich. -UthwkMay
40,492
40,563
3,070
2,141
18,544
B vansv. A T . II. 1st wkJ’ ne
465,632
20,624
423,175
Jhtohbn rg...„..l A pril........ 600,127 575,838 2,276,147 2,155,945
,
I: 1,:
68,918 1,124,048 1,015,170
63,220
Fla. Cent* <feP-IthwkMay
927,724
807,832
50,076
54,301
Wt,Wtk&D®n,Q, M arch.....
215,775
72,926
261.985
88,561
Ft. W, <afc kilo G-r, Mar..........
135,243
149,373
28,933
16,55
G wIm. «fe Alt, U -. Apr!
3,415
2 ,1 0 1
809
700
f.ti ts
008,654
fjmrgim
uliwfeMay
195,906
25,639
28.910
G#w*gla & Ala--... i t i i w k M o y
179,874
269,194
19,097
12,515
288,868
51,395
49,7431
© * ,€ & !& A No. A p ril.........
244,650
&&o. So, A F la .. m kf . . . . . . .
356.304
320.615
70.3571 67,102
0 r. Rap. & Ino. IthwkMay
806,644
810,908
42,222
48,234
cm . H.AFLW. ithwkMay
174,941
177,370
9,493
12,685
firmrermCity. \ithwkMay
18,310
18,181
1,428
1,00!) I
Mua. O. II. & I :ithwkMay
52,550
49,372
3,828:
2.116
Tot, all lines; uhwkMa*
54,870
68,175; 1,052,458 1,055,831
S n iid Trunk,..;igt wk.ra
339,227
!32,S6l! 7,370,667 7,260,391
Okie, A GteTr.i \«t wkJ'n
53.040
50,640
JDei; 0r,H.AM ! l«t wM.r
18,89,5
16,449
Ola.Sag. & Mae i«t wkJ’ r
2,426
2,728
T oL S , A H tlsk . iMt w U J ' li
1,530
1,373
©real North*a~
St.P. M. <&M. M
l,120,44fi|l,002,608; 4,988,005 4,159,194
B m to i afiton., M;
609,061
143,8621 104,555
438,006
Montana 0«nt.!M
603,478
775,191!
106,371 124,138
Tot, nyztom, jMay
1,430,678 1,231,301 0,373,1571 5,180,678
#ml£ A Oatoa&o. :M&
3,025
3,435
10,386)
17,252

1896,

1895.

I Jan. 1 to Latest Date,
1896.
S
9,373
721,778
51,800
8,194,438
175,145
283,199
1,246,215
906,016
801,176
20,503
119,482
201,151
1,750,638
455,933
105,415
1,645
247,900
120,874
164,820
26,770
1.474,217
164,272
69,070
1,277,063
31,270
607,931
8,378,653
1,308,748
181,460
20,295
52,937
481,640
4,267,762
981,965
2,067,949
286,730
1,258,014
208,530
769,972
1,318,139
4,608,787
8.930.000
394.000
9.324.000

1895,

Uoo3.Tim,&Wli. March___
1,853
1,720
7,882
Hons.&Tex.Cen. March___
239,503 287,160
874,506
Hnmest’n&Shen May,
8,800
6,603
39,018
Illinois Central. Slay.
1,587,126 ,651,832
7,720,060
TnO. Dee.AWeat. 3d wk May
8,758
9,520
168,743
Ind. HI. & Iowa. Anrll
65,066
65,071
273,166
In.& Gt.North’ n 1st wkJ’ne
47,202
61,169
1,365,224
llnteroo. (Mex.) Wk May23
49,300
968,462
50,340
lowaCentrau... 1st wkJ’ne
29,350
28,259
637,916
IronB allw ay... May,
3.769
21,530
4,458
Jaok. T.&BL W. AprU
29,550
192,882
32,761
Kanawha&Jlieh 1st wkJ'ne
7.405
9,394
182,947
K.C.F.Scott&M ithwkMay
86,894 105,295
1,745,894
K.O. Mem.A Bir. ithwkMay
23,070
26,092
397,920
Kan. 0. N. W___ May.
20,384
19,332
93,342
Kan. C.&Boat. May..........
316
406
2,161
K.
C.Pltts.A
G ..
13,253
1IthwkMay
13,152
210,595
Kan.C. Sub. Belt 1st wkJ’ne
10,280
7,156
91,099
Keokuk & West IthwkMay
9.769
7.584
129,365
L. Erie AU-ASo. May.
3,806
6,361
32,902
L. Erie & West,. 1st wkJ’ne
67,411
64,6 3
1,471,669
Lehigh & Hud.. M ay.___
36,694
41,290
183.625
Lex’ gton AEast, April__
19,381
17,507
59,719
Long Island.___ May.......
351,541 361,875
1.309.401
Los, Ang.Term. April___
7,414
15,992
62,784
Looia.Ev.ASt.L. 4thwkMay
37,546
41,700
549,425
Lonlsv.Ariashv. 1st wkJ’ne 386,525 345,320
7,887,119
Louis. N.A,ACh. 1st wkJ’ne
61,753
58,892
1.242.402
L on .StL .A T ex May.
38,264
157,537
32,838
Macon A Birin.. April
2,547
5,616
24,638
Manlstiqne........
10,515
55,156
15,570
Memphls&Chaa. 3d wk May
10,726
19,731
395,511
(Mexioan Cent.. 1st wkJ’ne 169,556 169,197
4,028,476
Mexican Inter1! AprU...
239,498 218,601
854,108
ISIex, Nattonai, 1st wkJ’ne
83,010
1,875,993
77.155
Mex. Hortheri*.. April........
59,061
58,948
207,126
IMexloanB’way Wk Mav23
56,484
69,480
1,425,495
Mexican So....... 3d wk May
8,775
10.155
191,245
Mlnneap.&St.L. 1st wkJ’ne
37.783
37,326
717,373
M.
StP.A8.StSL
87,606
4tliwkMay
60,280
901,728
Mo.Kan. A T cx. 1st wkJ’ne 168,968 188,589
4,549,877
Mo.Pao.AlronM 1st wkJ’no 359.000 386.000
9,076,688
Central Brioh. 1st wkJ’ ne
13,000
233,583
9,000
Total........... 1st wkJ’ne 372.000 395.000
9,310,271
Mobile & Blrm.. 1st wkJ’ ne
4.406
4,329
Mobile A Ohio.. May.......... 314,539 291,670 1,460,620 1,343,438
Mont AMex. Gil, May..........
88,682 101,746
474,749
532,530
Nash.0h.A8tL. May.......... 392,859 388,066 2,053,768 1,893,563
Nevada Central. March.......
2,059
5,697
1,969
5,408
Nev.C’yNar.Gge March.......
7,153
21,381
19,835
7,606
N. Jersey AN. V. Maroh.......
73,197
71,303
N .T .C .A H .B ,. May.......... 3,704,680 3,608,066 17,401,4 39 16,894,113
N.V. Ont A W.. 1st wkJ’ne
76,289
67,208 1,440,144 1,445,072
N.Y.Susa.&W.. A pril...
170,012 173,500
658,943
724,157
Norfolk A West . 1st wkJ’ne 230,775 142,345 4,890,174 3,896,105
Northe'rn (6a.). March.......
5,463
14,411
18,423
5,752
North’n Central April........ 493,819 510,602 1.902.763 1,998,127
North'n Pactnc. 1st wkJ’ne 319,088 3X0,758 6,553,871 6,135,762
Oconee A West. A pril...
2.399
11,291
2,243
7,359
Ohio River........ 1st wkJ’no
21,622
4<-4,310
20,610
293,077
Ohio Rtv.&Chas April__
11,899
15,120 , 06,977
59,527
Ohio Southern. Lst wkJ’ ne
16,497
324,913
8,929
302.194
Oregon Imp. Co. April........ 231,501 254,776 1,030,855 1,004,221
Paoillc Mali---- A pril........ 317,889 385,381 1,317,217 1,458,194
Pennsylvania.f>. April........ 5,132,272 5,205.472 20,026,109 19,436,809
PeoriaDeo.&Ev lat wkJ’ne
361,153
14,348
10,377
382,590
Petersburg........ April........
53,373
194,812
168,270
46.907
Phlla. A Erie... April........ 345,727 313,723 1,157,112 1,094,414
PhUa. & Read’g. April........ 1,591,308 1,649,030 6,224,869 6,348,712
Coal Air. Co... Apr 11........ 1,403,963 1,673,155 6,365,503 7,190,130
Total both Cos A p r il...... 2,995,471 3,322,185 12,590,372 13,538.842
Ph.Bead.i& N.E. March.......
57,717
158,299
59.951
163,136
Pitts.C.C. A St.L. A pril........ 1,202,801 1,186,307 4,825,161 4,553,512
Pitts.Mar.&Oh. May..........
3,355
17,240
3,278
16,994
Pltt.8hen.AL.E. ithwkMay
20,582
246,906
19.908
209,733
31,870
Plttsb. A West- 1st wkJ’ne
683,830
41,767
638,079
13,182
Pitta. Cl. AT oj 1st wkJ’ne
336,732
338,706
19,159
Pitts. Pa. A F. 1st wkJ’ne
123,121
10,653
9.629
114,105
Total system.. 1st wkJ’ne
55,705
70,555 1,157,789 1,107,603
Pltt.Young.AA. April......
359,258
120,173
99,665
365,805
123,115
23,469
Quincy o.AK.O. May. . . . . .
19,195
97,408
65,329
Blch.Fr’ksb.&P. April.......
237,025
221,641
59,112
114,480
31,265
Rich, & Petersb. April.......
103,534
28,371
8,868
Rio Gr. South’ u 1st wkJ’ne
186,496
7,410
152,339
930,662
37,800
Rio Gr.West’n .. ls t wkJ’ne
41,500
885,715
Bag.Tusoola&H M ay....
40,625
8,513
45,182
9,316
21,585
8,591
Sag. Val. & S t L Maroh..
19,427
7,103
St L. A. A T. H 4th wkMar
34,920
322,108
322,991
33,050
8t.L.K«n’ ct&So. March.......
13.156
4,879
8,413
2.479
St.L. A San Fran. April........ 448,424 487,732 1.939.764 1,837,800
Ht.L.Houthw'rn 1st wkJ’ne
73,300
79,100 1,928,190 2,045,353
500,400
109.230 117,792
StPaul& D ol’tb May. ...
4 8 6 ,29 8
550,821
153,152 160,975
San Ant.« A. P. April...
624,013
202,433
55,455
S.Fran.AN.Pac. April........
203,779
59.097
867,781
279,002 278,541
Sav.Fia. A West March—
853,711
23,335
Sber.8hrev.A8o May.........
108,970
136,899
21,072
48,193
811. Sps. O. A G. March___
17,751
42,730
17,518
6,300
6,300
SUverton,
1,604
1,604
J anuary..
bo. Haven* East May.........
6,719
1,536
1,414
5,493
So. Paoitto Co. Gal.Har.AS. A March.
393.519 403,676 1,253,952 1,124,795
Louls’aWest. March
250.229
96,613
77,401
801,377
Morgan’sLAT. March
395,672 514,374 1,306,257 1,617,258
N.Y.T. A ilex. Maroil
42,545
13,174
18,260
54,747
335,951
107,550 142,179
Tex. AN. Or; March......
412,325
Atlantio sys.6. March....... 998,963 1,196,892 3,229,526 3,592,523
Pacific system March....... 2,503,420 2,564,171 7,351,290 7,010.245
Total of all-c A p ril........ 3,719,574 3,940,852 15,106,926 15,452,487
831,597 862,356 2,460,738 2,285,113
So. Pao. of Cal 51arch......
642,321
So.Pao.of Aria M arch....... 204,327 225,524
618,280
8o.Pao.of N.M March......
309,785
99,823
97,605
269,489
464,391
Northern Ky,. March....... 153,844 127,147
423,363
Sonthern B y ... lst wkJ’ne 303,555 311,724 7,708,968 7,384,155
81,068
16,130
Spok. F’lsAXor. March......
49,305
29,285
203.474
Staten 1st R, T. March......
67,080
204,537
78,118
3,290
1,126
1,183
StonyCl.AOMt.. March.
3,470
325,532
82,693 113,047
StuntnitBranch. A p r il.........
397,626
303,746
31,514
Lyk. Val, Coal A p ril........
77.390
254,807
629,278
Tot’ lboth Go’s April........ 160,083 144,561
652,433
60,851
19,648
18,262
Texas Central. March.......
62,838
Texas A Pacific. 1st wkJ’ne
88,059 105,689 2,546,038 2,780,252
10,056
14,499
3,319
TsxS.Val&N.W April.
1,984
roi.AOllio Cent 1st wkJ’ ne
7521.89
IS,599
30,562
610,039
Pol. P, A West.. IthwkMay
400.568
26,b3r>
386,668
21,355
701,630
831,938
31,807
39.888
fol.St. L.AK.C lst wkJ’ne
72.940
26,123
66 878
24.973
Ulster & Del.....'March

THE CHRONICLE.

1082

Jan. 1 to Latest Date.

Latest Gross Earnings
1896.

1895.

*
$
1,071,90" 1,075,573
409,163 354.833
50,634!
47,556
6,443
5.916
11,500
12.0oO
9,000
13,01)0
24,169
25,409
52 ,6:3
51,278
1.695,047 1,639.519
239,3 >61 210,258
228.326 227,668
15,972
20,628
124.394 117,167
97,655'
88.658
30,119
29 414!
35,810
38,389
98,7371
92,354
57,100
58,400
17,09 *
26,337.
120,116' 134,075
6,243
7,627

Union Pacino—
Un. Pac. RR .
Or.B.L. AU. N.
et.Jon.AGd.Is
Kan.C.AOm
Tot.St.J.&G.I.
Cent, fir........ a
Ach.Col.AP. I
\ch..T.C.AW<
Oen.Br.AL’dL.
Gr’d total. v
U.Pao. D. & G ...
W nbaah —
W aco ANorthw
West Jersey..... .
W. V.Cen.A Pitts
W estV a.A Pitta.
Western o f Ala..
West. Maryland.
W est.N.Y. A Pa.
Wheel. & L. Erie
Wisconsin Cent.
Wrightsv.ATen

L a t e s t G r o s s E a r n in g s b y W e e k s .— T h e la t e s t w e e k l y e a r n ­
in g s in t h e fo r e g o i n g a r e s e p a r a t e ly s u m m e d u p a s f o l l o w s :
first

w eek

of

J u n e o u r p r e lim in a r y

s ta te m e n t

c o v e r s 52 r o a d s, an d s h o w s 4 '2 2 p e r c e n t g a in in t h e a g g r e g a t e
o v e r th e s a m e w e e k la st y e a r .
1st week of June.

1896

Alabama Gt. Southern...
Ann Arbor.......................
Atlantic & D a n v ille .......
Balt. A Ohio Southwest.
Buffalo Rooh. A Pittsb’g.
Canadian Pacific..............
Chesapeake & Ohio.........
Chloago & East. Illinois.
Chicago Great Western..
Chloago Milw. A 8t. Paul.
Chic. & West M ichigan...
Clev. Lorain & W heel'#..
Col. Sandusky A H ock’g.
Denver A R io G ran de....
Detroit Lans’g & North’ll
Evansv. A Indianapolis,.
Evansv. & Terre Haute..
Grand Truns o f Canada.
Chic. & Gr. Trunk........
Det. Gr. Haven & Mil..
Cin.8ag, & M ackinac...
Tol. Sag. A Muskegon.
Intern’l A Gt. North’n . . .
Iow a Central....................
Kanawha A Michigan___
Kau. City Sub. B elt........
Lake Erie A Western......
Louisville A N ashville...
Louisville N. A. A Chio..
Mexican Central..............
Mexican National............
Minneapolis A St. Louis.
Mo. Kansas A T exas.......
Mo. Pacific A Iron M t___
Central Branch.............
Mobile A Birmingham ...
Row York Ont. A West’n.
Norfolk A Western..........
Northern Pacitto..............
Ohio R iver.........................
Ohio Southern.................
Peoria Dec. A E v a n sv...
Pittsburg A Western.......
Rio Grande Southern___
Bio Grande W estern...,.
8t. Louis Southwestern.
Southern R ailw ay..........
Texas A Pacific...............
Toledo A Ohio C entral...
Tol. St. L. A Kan. C ity..
Wabash..............................
Wheeling A Lake E rie ...

$
25,317
20,039
9,644
108,472
74,333
403,000
168,851
70,329
81,015
580,772
28,02o
31,308
15,418
139,200
20,025
4,819
18.544
339,227
58,040
16,449
2,728
1,373
47,202
29,350
7,405
! 0,280
67,411
386,525
61,763
169,556
83.010
37,783
168,968
359,000
13,000
4,406
76,289
230,775
319,688
21,622
16,497
14,34?
55,705
8,868
37,800
73,300
303,555
88,059
30,562
39,888
228,326
26,387

Total '52 road s)..
Net increase (4-22 p. o.).

5,231,847
........

1895.

9

24,049
17,728
14,454
112,514
61,117
358.000
179,906
77,799
68,189
538,365
28,486
22,226
8,113
129,200
20.359
5,324
20,624
332,881
56,649
18,895
2,426
1,536
61,169
28,259
9,394
7,156
64,663
345,320
58,892
169,197
77.155
37,326
188,589
386.000
9,000
4,329
67,20142,345
310,758
20,610
8,929
16,377
70,555
7.410
41,500
79,100
311,724
105,669
18,599
31,807
227,668
17,094
5,022,641
---

---

Increase.

Decrease.

*
1,268
2 ,3 1 1:

$
............
....... .
4,810
4,042

13,210
45,000

11,055
7,470

13,426
42,407

460

9,082
7,305
10,000

334
505
2,080

6,346
1,391

2,446

302

163
13,967
1,091
1,989

3.124
2,748
41,205
2,861
359
5,855
457

19,621
27,000

4,000
77
9.081
88,430
8,930
1,012
7,56a

2,029
14,850

1,458

3,700
5,800
8,169
17,610

11,963
8,081
6^8
9,293
361,305
212,205

148,100

For the fo u r t h week of M a y our final statement covers
73 roads, and shows 2*42 per cent loss in the aggregate.
4//i week of May.
Prev’ly reported (43 r’ds)
Alabama Gt. Southern..
Atlantic A Pacific...........
Burl. Ced. Ran. & N oith.
Chio. Peoria A 8t. Louis.
Chicago A West Michigan
Clove. Canton A South’n
Clev. Cin. Chio. A 8t. L ..
Col. Sandusky A Hock’g.
D e h Moines A Kan. City.
Detroit Lans’ g A North’ll
Duluth So. Shore A A tl..
Evansville A Richmond..
Flint A Pere Marquette.
Ha. Cent. A Peuinsular..

1896.

1895.

$
$
6,561,061 6,648,649
37.959
37,135
98,627
123,744
118, h83
105,523
15,344
2 !,1 8 0
31,143
39,687
22.436
14,791
370,191
393,384
18,024
11,831
2,141
2.708
25,034
28,642
77,791
67,846
2,141
3,070
63,229
68,918
50,976
54,301
25.629J
28.910

1896.

1895

*
4 / , 222
9,493
1.009
2,146
86,891
23,070
9,769
242,427
20.582
12,479
75.700
12.000
21,358
55.3o7
120,116

$
4 * .23i
12,685
1.428
3,*28
105,295
26,092
7,584
270,425
19,908
10,48 «
75.4 0
11 ,50)
26,635
57.45"
134,07c

Inereast

D eco *e.

$

$
Grand Rapids A Indiana
6.012
*
*
Cincinnati R. A Ft. W ..
2,934.703 2,986,437
3,192
Traverse City.................
......
992.159
419
1,159,446
Musk. Gr. Rap. A Ind .
144,082
141.193
1,682
18,401
18,157 Kan. City Ft. S. A M em.
22,16
260,122 Kan. City Mem. A Birm..
250,1371
3,022
2,185
233,934 Keokuk A Western..........
297,338
Mo. Kansas A T ex as.......
27,998
68,006
72,3781
Pittsb. Shen. A L. Erie..
674
136,402 R ’o Grande Southern.. .
163,935
1,993
4,758.62r I 4,577,514 Rto Grande Western.......
25b
921.455
50;
879.066 St. Josenh A Gd. Island.
5,078,019 4,940.566 T o'edo Peoria A Wpst’n ..
5.277
">l. St. L. A Kan. City. .
60,638
59,745
2,150
413 804
390,5-1 Wisconsin Central..........
13,959
............
472,375
403,327
Total (73 roads)............ 8.255,748 8,460,834
335.144
74 258
85,156
540,230
156,425 Net decrease (2*42 p. c.).
] 79,359
............
205,086
1,298,187 1,248,453
1,025,319 1,122,482
N e t E a r n in g s M o n t h ly t o L a t e s t D a t e s .— The table follow ­
559,411
500 080
l,t0 3 ,8 5 2 1,511,640 in g shows the net earnings of S team railroads reported this
25,126
___33,953

* Figures given do n ot include Oregon Ry. & Nav., Un. Pac. D enver A
Gulf, Denver Leadville & Gunnison, Montana Union and Leavenworth
Topeka A Southwestern, a These figures include results on eased lines.
b Includes earnings from ferries, eto., not given separately. J M exi­
can ourrenov. p Includes only half o f lines in w h ich U nion P acific has
a half Interest.
d Tnoludes operations o f the Chic. Burlington A N orthern in both
years.
§ Covers results for lines directly operated east o f Pittsburg.
e Includes results on affiliated lines.

F o r th e

4th week of May.

1895.

1896.

[VoL, L xn .

Increase.
$
291,008
824
13,360
7,645
6,193
567
9,945

Decrease.
*
378,596
25.117
5,836
8,544
23,193
3,608
929
5,689
3.281

week. A full detailed statement, including all roads from
which monthly returns can be obtained is given ouce a month
in these columns, and the latest statement of this kind will
be found in the C hronicle of May 23, 1893. T h e next wil
appear in the issue of June 20, 1896.
-Gross Earnings.-Net Earnings Roads.

1*96.

$

1895.

1896.

1895.

102.712
Alabama Gt S outh.a Apr.
113,064
9,516
17,614
Jan. 1 to A pr. 3 0 ___
448,863
471,7o9
97,651
119,378
July 1 to A pr. 3 0 ___. 1,410,452 1.343,817
476.402
455,362
313,067
294,336
A tlantic A P acific___ Apr. .
64,422
27,687
490,293
Balt. A Ohio Southw. Apr..
503,205
132,755
176,489
Jan. 1 to Apr. 3 0 ___. l,9 9 4 ,o »6 2,026, (30
566,872
722,033
July 1 to Apr. 3 0 ___. 5,443,318 5,351,995 1,836,466 2,004,943
Bell. Zanesv. A Cin.—
24,959
Jan. 1 to Mar. 3 1 ___
18,789
def.753
505
274,723
295,408
68,992
Burl. Ced. R. A N o. a .. Apr.
72 ,-9 9
Jan. 1 to Apr. 3 0 ___ . 1,444,770 1,149,419
502,573
343.946
124,897
147,653
Chio. A W. M ich........ Apr. .
25,068
3 3 ,559
4s9,902
Jan. 1 to Apr. 30. ..
5 £6.576
74,782
76,821
57,134
45,304
Oin. Jack. A M ack.b.. Apr.
6,391
4 ,3 2 2
226,607
Jan. 1 to Apr. 3 0 ----188,866
24,300
1 8 ,7 7 “
164,94 L
Colorado M idland.... Apr.
154,184
61,235
43,718
611.962
499,000
Jan. 1 to Apr. 3 0 ....
172,491
155,525
96,825
97,9 >2
Det. Lans. A N o r .a ..A p r .
17,077
23,133
334,321
Jan. 1 to Apr. 3 0 ....
358,338
50,270
61,052
169,167
15 5,35 )
Edison El. Il.Co.,N.Y..M ay
77,752
75,146
946.837
868,311
Jan. 1 to May 31----477.121
417,729
65,280
241
Ga. South. A Fla.. b .A p r.
63,022
13,529
285,947
Jan. 1 to Apr. 3 0 ....
253,423
72,906
53,971
729.821
July 1 to Apr. 3 0 .....
710,473
259,334
187,887
Illinois Central a ... Apr. 1,528,017 1.460,434
383.383
426,933
Jan. 1 to Apr. 3 0 .... 6,607,312 6,063,223 1,9 19,152 1,912.035
July 1 to Apr. 3 0 ___ 17,872,524 :15,396,234 6,004,372 4,779,594
48,626
Laclede Gas-L. Co___May
58,560
315.112
Jan. I to M ay 3 1 ....
349,173
Lehigh V alley in N. Y . Jan. 1 to Mar. 3 1 .... 1,101,246
947,959
256,809
237,012
279,150
261,969
L ouisv.N . A . A C .a ..A p r .
102,549
88,895
997,972
Jan. 1 to Apr. 3 0 ....
9)4,90 5
274,33 L
230,575
July l to Apr. 3 0 . . . 2.747.977 2,528,910
926,606
780,159
333,375
367.938
M exican Natio n al.... Apr.
*169,900
*163,640
Jan. I to Apr. 3 0 ___ 1,621,345 1,444,178
*723,743
*638,186
59,061
58,943
M exican N orth ern .. .Apr.
31,384
30,255
286,730
Jan. 1 to Apr. 3 0 ----207,126
110,329
148.547
10,399
9,046
M exican Telephone ..Mar.
4,961
3,383
Jan. 1 to Mar. 3 1 ....
29,715
26,893
12,959
11.982
138,040
35,880
Minn. A St. L ou is___Apr.
143,658
45,708
594,719
522,318
Jan. 1 to Apr. 3 0 ....
206,885
200,625
July 1 to Apr. 3 0 .... 1,725,741 1,516,365
717,283
655,826
81,666
61,526
Ohio R iv er, b............. Apr.
25,886
19,933
303,080
2 0 8 ,4 6 )
93,714
Jan. 1 to Apr. 3 0 ....
70,923
281,501
254,776
Oregon Imp. C o .a ....A p r .
27,805
27,854
Jan. 1 to Apr. 3 0 ___ 1,030,355 1.004,221
50,906
71,645
Dec. 1 to Apr. 3 0 .... 1,271,182 1,231,417
46,398
93,538
345,727
130,024
Philadelphia A Erie b . Apr.
313.723
100,717
Jan. 1 to Apr. 3 0 .... 1,157,112 1,094,114
263,275
234,036
Un. P.D. A Gulf. b . . . . Apr.
239,306
29,813
210/258
31,768
Jan. 1 to A pr. 30 . . .
921,455
169,966
879,066
164,198
97,655
28,950
West Va. Cent. A P ..May’
88.658
30,487
472,374
403.327
154,044
142,623
Jan. 1 to M ay 3 1 ___
Ju ly 1 to May 3 1 .. . 1,089,328
957,787
326,119
373,269
29,414
30,119
16.986
W. V irginia A Pictsb.Mar.
15,594
85,156
38,372
Jan. 1 to Mar. 3 1 ....
45,010
74,258

a Net earnings here given are after dedu cting taxes,

b Net earnings here given are hefore d educting taxes.
* Deducting other expenditures for repairs, replacem ents and general
expenses, net incom e applicable to interest on bonds in April was
$94,424, against $88,73o last year, and from January 1 to April 30
$417,438, against $325,528. This is the result in M exican dollars
treated (according to the com pany’ s m ethod o f keeping its accounts)
as equivalent to 80 cents in United States m oney—that is, all depreci­
ation beyond 20 per cent has already been allowed for.
I n t e r e s t C h a r g e s a n d S u r p l u s .— The following roads, in
addition to their gross and net earnings given in the foregoing,
also report charges for interest, &c., with the surplus or deficit
above or below those charges.
- Inter’I, rentals, <tc.Bat. of Net Earn » —■

Roads.

Chic. A West M ich ... Apr.
JaD. 1 to Apr. 3 0 ....
Det. Lans. A N or...... Apr.
Jan. 1 to Apr. 3 0 ___
Louisv. N. A. A C h...A pr,
July 1 to A pr. 3 0 ....

1896.

33,671
135,258
116,251
106,299
84,921
845,805

1895.
1896.
1895.
S
*
$
33,137 del. 8,603
422
134,666 d el.60,476 del.52,845
29,846
826 det.6,713
119.820 del.56,029 del.58,768
86,896
17,625
1,999
830,556
80,801 del.50,397

t These are charges on the new basis as they stand alter reorganiza­
tion.

JCNE IB

THE

1890,]

CHRONICLE

-A p r il,—July 1 lo Apr. 30.1896.
1895.
NOR. PACIFIC—
.1895-6.
..
■ ■ M1894-5.
M
Gross earnings....$1,284,493 $1,307,734 $16,907,278 *14,839,332
Operat’g expenses.
909,661
848,820
9,884,577
9,386,804

Net earnings...
Mlsceitati. Income.

$374.33’
77,177

$458,914
123,730

$7,322,701
359,151

$5,*52,528
361,607

Ch’gs prt‘ceil.2.1 M.'

3152.009
576,243

$582,644
523,392

*7,681,8*2
5,983,240

$5,814,135
5,633,904

rf.$124,234
391.467

$59,252
447,173

$1,698,612
3,349,801

$180,231
4,151,486

Balance...... ....... <1113.6,701 df.f3S7,321 dt$2,151,189 df.$3,971,255
* Including rentals and taxes,

STREET RAILWAYS AND TRACTION COMPANIES.
The folio wing table shows the gross earnings for the latest
period of all STREET railways from which we are able to obtain
weekly or monthly returns. The arrangement o f the table is
the same as that for the steata roads—that is, the first two
columns of figures give the gross earnings for the latest
week or month, and the last two columns the earnings for
the calendar year from January 1 to and including such latest
week or month,
STREET RAILW AYS AND TRACTION COMPANIES.
GKOBS
E arning ®.

Latest Gross Earnings.
Week or Mo

1896.
$
1
6,7 42;

Jan.1 to Latest Dale.

1895. I 1896.
$

'I

Akron B w lfd <fc01«v April........
Akron sfcRy.A 111. Co April........ 10,200 13,777
Allent'u & L*h. Tr’t'n May.......... 21,234 19,119
3.679
3,675
April........
Amsterdam St. Kv
Atlanta Con. St. Ry~ April...... . 32,588 26,475
Mattimoro Traction. A p r il...... 97,469 87,878
1,5 ts
Bath St. Ry. (N. V.».. A pril..---1,496
6,578
6,030
Cities Consol — April........
10,809
8.912
A
p
ril.-..-.
Binghamton St, Ry...
Bridgeport TWMStion. May.......... 30,012 25,5231
Brockton Con. St. Ry. April........ 23.853 18,9 i0 :
Brooklyn Elevated.. 1st wkJ’ne 30,934 37,603
Br'klyn Rap.Tr. Co.—
Brooklyn Heights . May.......... 125,420
Briklyn qn ’ o* A Sub May. ..... 69,217 58,566
Total for system May......... 494,637
Brooklyn Traction—
Atlantic A v o ......... March....... 73.828 61,597
4.745
5,741
Brooklyn B. A W. K. March.......
M arch..... 78,573
Total,...
Buflalo B y..
Central Trac.t PitUb.) A p r il...... 14,80 i 13.523'
Chester Traction — April,...,.. 15,815 13,301
Chic. & So. Side H T April........ 61,406 68,429:
Cln. Newport A t’ov.. April........ 50,950 45,959
75,985 72,758
CSC* Pa». Ry. ( toil’s,)1April
1,617
city Elec. (Rume.tHk) April........
l.«85
80,gu4<
Cleveland City B y ....1April........ °84,7001
J
Cleveland E lectric...‘April........ 131,60 s 115,126
Columbus Bt. By, (O.i May.......... .*8.161V 54,077
Coney Island A B'lynJ April........ 26,6091 23.176!
Consol, Trtcil ,n N J May. . . . . . . 2b4,7.i:v 215.355
7 ,9 -2; 6,013
Danv.G’s E.L.Ait. Ry. April........
Denver Con. Train w. April........ 59,332 57,350
Detroit R y ................ April.......... 35,1091 ...........
Duluth st. Ky........... 'A pril.......... 17,194 16,976
9,799
Erie Elec. Motor Co.. A pril------- 11.251
1,435
Flushing A Collage Pt. A pril..---Port Wayne consol... April........ 11,339 *8,389
Galveston City R y .F e b r u a r y .. 13,0691 12,419
Herkimer Mohawk 11*1
1,701
3,667
loo * rk fortE i.B y. March.......
673; . . . . .
Hooasck Ry.......... ... April
— 8t• Ry.
*• - March---15,366; 15,858
Houston City
Interstate Consol, oil
9,312!........... ;
North A 1 tleboro... April----52,908!.......
Lake 84. Kiev. lChio.1 April.......
9,126
Lehigh Traction........ April........
1.407:
Look Haven Traction! April.......
6.096! 3.918
London 8t Ry. (Can.). April.......
6,606
5,638
Lorain St. Ky— -.......April........
30,741 27,857
Lowell Law. As Hav. :April.......
Lynn * Boston____ Ithwk.May 45,306 41,797
Metrop. |Kanh.m Cii v ' Id *k May 34,983 32,115>
Mitw. El. Ur. A L, On.!March
3,993
4,88
Montgomery « t Ky Apill..
97,462 8-1,431
Montreal Street Ry,.. April..
21.804 23.887
Nashville St. B y ----- !March
5,305
8,586
Newburgh Electric... May.
New England Bt.—
15,830 14,280
Winchester Are ... April.
2,359
2,088
Piym'th A Kingston April,.
■l,8i8
Total,................... WkJuaa 6| 5,033
3,694
NewHavenvCeOtrev April........ ; 4,68l
New Haven St. Ky. .. April.......... ; 14,845 12,563
Mew London 86, Kv. April..---2,418 2.680
12 >.768 122,441
Now Orleans Traction j May. .
N. Y, ft Harlem......... March
Northampton 8t. By.
.
■,
(Mass.)!. . . . ____ .. March......... ; 6,256 4,920
Oa'lt'nslmrg84. By. April........
27,6*30
Paterson By.............. May..
Pitta. Frontons') *
tinn.Elee. Kv.fKao.) April........
1,3,7
Po'keep.;" v IVapp.F. Marl'll.......; 5,448
2,656
Roanoke Street......... April----- 3,443
Kurheator Ky..........- March....... ; 70,975 65,038
3,470
Savannah E lectric.,,!February,.! 5,441
6,738
Schuylkill Traction... 'April........
7,505
3,380
Schuylkill Val. Tran. April........
4,235
25,001
Scranton Traction-----May........... 30,763
Second Aye. (Plttab.i April........ , 38,965 22,388
6,648
6,685
Sioux City Traction April..
A p r il......I 24,773 17,139
Bteinway Ry.
888
991
Strnator Railway. . .. February,. |
10,238 13,395
Syracuse C onicD l . .—
. . . ..... ...
3,180
Syracuse E’st.-sideRy April.
Syracuse St. B K.........;A p r il...... 25,153 20,15*1
Terre Haute Ei’n. Ky .! umary— 12,819 7,909
•March.
Third Ave. (N. Y.)
70,241 75.199
A p r il..
Toronto By.
161,071 152,916
Twin City Rap. Tran. April..
15,346 13.283
A
p
ril..
Onion IS. B edford)...

1895.

$

22.131
05,398
80,744
14,477
109,751
354,326
5,441
25,444
39,891
119,839
85.531
798,108

55,138
72,223
12,926
86,556
317,592
4,990
23,491

1,313,981
273,301 201,875
1,515,359
215,454
14.220
229,674
335.154
59.147
51,314
254,818
185,825

2 9 7 .36 3

5,967
336,335
504,175
•250,428
87,628

297,152
423,477
2 <9,100
96,853

222.(19
136,405
70 9-9
43,872
5,148
42,705
26,317

127.326
15,246
142,572
51.971
16,081

2 8 1 ,50 2

165,994

214.606
68,408
37,104
*80,956
27,010

8,356

14 515
22,167
98,034
459,770
*91,585
326,608
13,913
303,905
53.985
7.258

42,208
18,413
47,278
54,835
9 ,8 4 2
10.628
588,283 518,431
232,26 J| 279,026
19,307
3,763

United Tract. (Proy-)
Unit. Trac. (Reading)
Utica Belt Line.........
Wafeeheid & stone__
Waterbury Traction..
Wheeling Railway..
Wilheg’b. & Wy. Valley
Worcester Consol......

1898.

$

A pril........ 1 37 ,04 5
May.......... 19,430
March___ 13,449
4 ,104
April........
April........ 18,199
A p r il...... 13,688
April____ 37,7 22
April........ 39,053

Jan. 1 toLatestDate.

1 895.

$

1 896.

1895.

** $
5 2 4 ,5 7 0
69,6 98
38,6 50
13,6 22
7 7,0 89
*50,7 60
149,779
1 45 ,80 0

119,681
17,938
11,537
3,207

17,898

11,3 26
32,265
32.474

$
6 0 ,3 0 3
33,6 13
11,16,3
68,7 67
40,937
114 ,25 7
1 1 9 .73 7

Street Railway Net Earnings,—The following table gives
the returns of S t r e e t railway gross and net earnings received
this week. In reporting these net earnings for the street rail­
ways, we adopt the same plan as that for the steam roads—
that i», we print each week all the returns received that
week, but once a month (on the third or the fourth Saturlay) we bring together all the roads furnishing returns, and
the latest statement of this kind will be found in the
C h r o n icl e of May 33, 1896. 'The n ex t w ill appear in the
issue of June 30, 1896,
-Gi'oss Earnings.---- - -— -Wet Earni:ngs.——
1896.
1895.
1898.
1895.
Roads.
$
$
$.
$
30,012
25,523
14,644
Bridgeport Tract’n.-M ay
13.172
Jan. I to May 31---119,839
102,770
50,370
33,918
157.542
67,483
Brooklyn Elevated, a Apr.
171,697
76,220
623,461
Jan. 1 to Apr. 3 0 ....
768,045
355,901
2 >5,9 33
July 1 to Apr. 30 ... 1,583,436 1,581, 95
645,815
669.707
Columbus (O.) 8t. By.May
58,169
-•*5,077
32.130
23,098
Jau. 1 to May 3 1 ....
259,423
239,100
128,694
115,953
32,857
Paterson Railway. ..May
27,030
14,978
12,907
Jan. 1 to May 3 1 __
127,789
102,528
53,225
37,718
30,763
Scranton Traction...Slay
25,00 L
12,113
16,526
132,503
103,901
63,6 *9
39,830
Jan. 1 to May 31__
July 1 to May 31___
301,033
241,816
151,166
96,785

ANNUAL

REPORTS.

A n u u a l R e p o r t s . — ta e following is an index to all aauual
reports of steam railroads, street railways and miscellaneous
companies which In ve been published siaoe the last editious
of the I nvestors ’ and S treet R a il w a y S upplements .

This index does not include reports in to-day’s C h r o n i c l e .
R Ut.ROADS AND MlSCEL. CO'8.

Volume 62 —

Page.

Allegheny V a lle y ............................. 778
Burlington Cod. RapidB & North,. 888
Canada Southern..............................1038
Chicago Edison C o ......................... 987
Chicago ,v North W estern
......1037
Chicago Rock island ft Pacific ....1037
Chic. A W est Michigan.................. 820
Cln. Ham. A Dayton <8 m onths)... 1038
Cincinnati St Muskingum Valley.. 908
Electric Storage B a tte ry ....... ..1038
Flint A Pure Marquette ................ 819
General Electric.................... .— 770
Grand Rapids & Indiana------ . . . . . 775
International & Great Northern.. .1038
Kansas City & Omaha......... .—
819
Lake Erie A Western..............818. 826
Lake Shore & Mint;igan Southern. 804
Mahoning Coal RB ......................... 805
Mexican Centra!...............805,817, 823
Michigan Central
........................ 865
Monoagaheia River R R ...... .
867

R a il r o a d

an d

Volume 62—

M is c e l . Go ’ s ( Don.)

Page.

New England Tel. & T el.................. 908
N. Y. Chicago & St. Louis................ 881)
Norfolk & W estern... ...
905
Ohio River...... .................
948
Oregon Short Line& Utah North’ll 8t9
Pacific Mail Steam ship.................. 980
Pennsylvania Steel, ....................... 770
PhiiadelohiaG as C o........................ 947
St. Joseph ft Grand Island. . . . ------ 819
Union Pacific.................................... 818
United States Rubber Co.................. 947
Wilmington St Northern................ S67
St r e e t R a i l w a y s .

Allentown & Xj. V .T raction........... 900
Louisville Railway .. - ............ 411
Milwaukee Elec. Ry. & Light........ 1038
North Hudson County__ . . . . . . . . . 411
Sacramento Electric Pow. & L et.. i l l
Twin City Rabid Transit................ 608

—V, 62, p. 683.
( R e p o r t for th e y e a r e n d in g D ee. 31, 1 8 9 5 .)

34,742

58,511

Week 07'Mo

S o u th e rn P a c ific C om pan y.

10,415
2,245

37,008
5,292
23,263
20,3 -I
110,388
501,984
636,509
376,219
15,869
372,0.) 9

L atest Gioss Earnings,

G r o ss
Ea r n in g s .

32,368

1U2.770
70,363
984,079

108b

12,997

127,789,

102,528

5,435
16,013
11,601
210,775

9,338
187,100

24,9*25
20,668
10,652
15,273
132.503 103,901
74,530
136,042
24,955
25,541
61,650
8-5,122
1,827
2,12c
57,109
42,737
11,339
56,983
93,919
7,909
12,819!
584,541! 580,521
298,536 278,404
619,587 590,074
18,196
59,205

Upon subsequent pages of to-day’s C hronicle will be found
extracts from the report of Mr. C. P. Huntington, the Presi­
dent of the Southern Pacific Company, for the fiscal year
ending Dec. 31, 1895, including the balance sheet and ex­
tended tables of earnings, etc.
As supplementary to the above, we give in the tables here
following a statement showing the work done by the trans­
portation department, upon which the increase or decrease in
the expenses is, to a large extent, contingent:
1894.
1893.
1895.
PACIFIC SYSTEM.
Freight—
5,983,801
6,621,167
6,667,988
Tons carried__ _ — . . . .
Tons carried 1 mile........ 1 ,709,148,881 1,532,388,122 3,454*355,014
11*97
1204
12-40
Aver.load'doars pertrain
4*53
4*25
4-47
Aver.empty cars per train
152*59
163-45
Aver, tons per train........ 163*44
Passenger—
17,855,447
18,087,756
18,593,182
Passengers carried........ .
519,652,564
504,273,234
Pass, carried 1 mile...... 483,179,753
5*33
5-38
5-33
Av.niun i’r of oars la train
ATLANTIC SYSTEM.

Fi'eight—
3,476,188
Tons carried.........
Tons carried 1 mile........ 1 020,926,360
14-43
Av. load’d oars per train.
5*63
Av. empty cars per train
Aver, tons pec tra in ........ 203-17
Passenger—
959,178
P a ssengers carried,........
7 6 ,0 3 7 ,8 9 J
Pass, carried 1 mile.......
Av. numb, of earsin train
5-68
—V. 62, p. 680.

3,181,919
942.257,083
14*45
5*35
198-74
1,007,182 *
72,111,117
5*95

3,131,405
878.594,242
13*88
6*40
181-89
953,368
72,325,090
5*80

C e n tra l P a c ific R a ilr o a d ,

(Report fo r the year ending Dee. 31, 1895.)
Abstracts of the amraal report and the President’s remarks,
together with the balance sheet, will be found on subsequent
pages,
From the Southern Pacific Company’s report we have tne
Central Pacific earnings and income account for 1895, which
are compiled for the Chronicle as fellows, in comparison
with previous years.

THE CHRONICLE.

1084
EAR N IN G S AN D E X P E N SE S.

Miles o t road....................
E a rn in g s—

1895.
1,300

1894.
1,360

$

$

Passengers*...................... 4,813,998 4,845,735
F re ig h t............................ 7,724,197 7,710,461
M iscellaneous...................
4*5,132
466,774

1893.

1,360

1892.
1,360

5,545,750 5,671,753
8,226,998 8,701,478
488,477
239,759

T otal........................... 12,963,327 13,022,971 14,261,225 14,612,930
E xp en ses—

Maintenance o f w ay, eto. 1,623,258 1,672,956 1,630,165 1,926,678
M aintenance o f e q u ip ... 1,339,478 1,220,324 1,244,750 1,316,724
T ransportation................ 4,293,777 4,370,113 4,699,204 4,662,829
999,180
947,772
905,465
889,071
General..............................
T o ta l............................ 8,145,584 8,168,858 8,521,890 8,905,411
Net earnings..................... 4,817,753 4,854,113 5,739,335 5,707,579
60-94
62-72
59-76
62-84
P . o. oper. exp. to earn’gs

[VOL. La II.

E a rn in g s o f B elt R a ilw a y, —The Belt Railway has no secur­
ities held by the public, its stock being all owned by the
companies owning the Western Indiana. Its gross earnings in
1895 were §627,711, contrasting with $588,335 in 1894, §646,381 in 1893 and $863,408 in 1892. After deduction of operat­
ing expenses, rental to Chicago & Western Indiana ($140,300
in 1895) and taxes, it had a surplus for 1895 of $50,700 as
against a deficit of $26,216 in 1894, $52,123 in 1893 and a sur­
plus of $139,617 in 1892.—V. 60, p. 1056; V. 61, p. 324.
Oregon Improvement Company.
( R e p o rt o f T hos . L . G reene, w ith ea rn in g s , f o r the y ea r en d in g N ov. 30, 1895, J

The report of Thomas L. Greene to the Reorganization
Committee is a pamphlet of 39 pages, full of interesting facts
regarding the property, and of valuable suggestions as to the
* Including mail and express.
Th3 operations under the lease and the results to the South­ constituent properties. It says in part:
ern Pacific Company, lessee, for the years ending Dec. 31 P o ri Townsend S outhern #72.—This road stands upon the books o f the
com pany at $1,353,504, but it bas never paid operating expenses.
were as follows :
The train service bas been cut down as m uch as possible, and the road­
1 895.
1894.
1 89 3 .
1892.
E a rn in g s —
$
$
$
$
R a ilr o a d s , steam ers,etc.. 1 2 ,9 6 3 ,3 2 8 1 3 ,0 2 2 ,9 7 1 1 4 ,2 6 1 ,2 2 5 1 4 ,6 1 2 ,9 9 0
Rentals, eto......................
8 2 ,3 2 9
9 5 ,2 7 4
5 8 ,6 8 3
1 3 3 ,6 6 2

Total............................. 13,045.657 13,118,245 14,319,908 14,746,652
Operating expenses, eto.* 8,760,489 8,723,238 9,204,557 9,526,696
Interest on funded debt. 3,333,102 3,353,926 3,293,678 3,316,365
Bint, fund requirements.
235,000
185,000
185,000
185,000
U. S. requirem ents.......
648,390
599,701
584,775
577,048
Betterm'ts and adailions.
237,354
111,787
267,181
279,669
Total........................... 13,214,335 12,973,652 13,535,19113,884,778
Net profit for y e a r......... def.168,678
144,593
784,717
861,874
............
575,283
498,126
Bal. to make up rental......................
1,360,000 1,360,000

Rent pay. b y So. Pr o. Co.....................
* Includes also taxes and rentals.
IN CO M E A CC O U N T.

1894.
$

1895.
R eceipts—

9

B ai. from operations oyer

1892.
$

1893.
$

10,000
123,726
746,060
€48,390

144,594
10,000
54,069
647,452
599,700

1,360,000
11,470
547,154
584,775

1,360,000
22,872
546,076
577,048

67,093
126,360

81,909
51,423

60,OCO
76,550

80,167
121,148

T otal............................. 1,552,951

1,589,147

2,639,949

2,707,311

Rental under lease..........
Other receipts...................
Sink. fd. A Int. on invest.
U. S. requirem ents..........
Int. on O. P. Dotes and
bds. held by tr. 1. g. M .
Land sales.........................
P aym en ts—

Sink. fd. receipts, U. S.
requirements and land
sales,as above, for pay­
ment o f debt................. 1,587,904 1,380,484 1,268,479 1,324,439
__ .. 1,345,510 1,345,510
Dividends, 2 per cen t___
353,870
M iscellaneous...................
105,901
458
825
T otal.......... ................. 1,941,774 1,486,385
102,762
Balance, surplus.............. d f.388,823
Other Items......................
*•*916,085
Surplus Jan. 1 ....... .......... 2,572,536 3,385,858
Balance Deo. 31........ 2,183,713

2,572,536

2,614,447
25,502
*-.26,751
3,387,108

2,670,774
36,537
d r . 57,287
3,407,860

3,385,858

3,387,110

* This item is “ less settlements on aeeount o f form er years and re­
adjustment o f values o f investm ents.” —V. 62, p. 1039.

Chicago & Western Indiana RR.
(R e p o r t f o r the y ea r en d in g D ee. 3 1 ,189 5. J
In com e A cc o u n t. —The income of the Chicago &

Western
Indiana is derived principally from the rentals paid by the
companies making use of its railway and terminals, its re­
ports showing:
INCO M E ACCOUNT O P C H IC A G O

1895.
R ev en u e—
$
Rental from lessees......... . 956,884
“
“ Ind. E l’vator..................
“
“
houses&land.
23,050
Dis., lot. and exohange..
6,641
Miscellaneous earnings..
9,259
T ota l............................

& W E S T E R N IN D IA N A R R .

1894.

1893.

9

9

953,736

948,959

22,662
7,121
11,460

24,898
4,620
23,258

1892.
$

805,248
30,000
29.054
7,550
2,357

994,979

1,001,735

874,209

Interest charge................ . 668,260
D ividends.......................... . 375,000
M iscellaneous..................

671,036
300.000
7,979

657,742
300,000
8,564

578,979
300,000
5,141

Total............................. .1,053,335
B alance............
tdf.57,501

979,015
sr.15,964

906,306
sr.35,429

884,120
dl. 9,911

E xp en ses—

t The surplus on Dec. 31 ,189 5, as per balance sheet, was $668,845.

B ala n ce Sheet .—Its

shown:

balance sheet for four years past has
31.
1895.
1894.
1893.
1892.3
$
$
$
$
19,194,523 19,127,767 18,893,906 17,939,848
521,574
548,847
549,541
464,709
253,347
327,774
233,475
200,348
137,193
102,814
169,070
213,552

CH ICAGO & W E S T E R N IN D IA N A B A L A N C E SH E E T D E C .

Assets—

Cost of property............
Acots. due and unpaid ..
Cash...................................
M aterials.........................

T Total. ........................ 20,106,637 20,107,202 19,845,992 18,818,457

L ia b ilities—

Stock.................................. 5,000,000 5,000,000 5,OC0,000 5,000,000
H on da.... ...................... 11,047,067 11,200,667 10,943,667 10,228,667
Vouchers A curr’nt acots.
183,606
126,080
286.563
546,681
Sinking fu n d s ................. 3,132,401 2,978,009 2,832,586 2,299,490
Interest account............
62,213
63,743
63,183
60,264
Coups, matured,not paid
11,905
12,355
9,610
8,400
Incom e account..............
668,845
726,346
710,383
674,955
Tot£*l........................... 20,106,637 20,107,202 19,845,992 18,818,457

bed is kept only in a condition above the uanger point. A bont 10,000
feet of trestle which in a few years w ill require som e work upon It.
It is a question fo r the com pany to decide whether this unprofitable
line shall continue to be oper ted.
Seattle & N o rth ern R R .—The principal traffic o f this road is the car­
rying o f lum ber to the Seattle Lake Shore «s Eastern. The road is not
expensive to operate, w ill not require m ore than ordinary repairs for
the present, and it has always earned a small am ount o f net incom e.
Itsta n d su p on the books o f the com pany at $1,230,390, but there is
little probability o f its becom ing o f any great value.
These two companies, the P ort Townsend Southern and the Seattle &
Northern, it will be noticed, oom prise three sh ortlin esof railroad, w hich
have no business relation with the rest of the system. Together they
cost over $2,500,000, upon which, as a whole, no incom e has been re­
ceived. They were paid fo r by the issue of consolidated bonds at a
heavy discount.
P a cific Coast SS. C o — This n rop eity is operated subjeot only to the
supervision of the owners, under contract expiring February, 1899,
by Goodall, Perkins & Co., who bear all the expenses o f their ow n
office, receive and disburse all m oneys, and manage the affairs o f the
company generally to the best o f their ability, and as com pensation
reoeive 2 per cent o f the gross earnings. The cost o f legal, traveling
aDd ticket office expenses and their other disbursements, exoept those
belonging strictly to the general office, is borne by the com pany. The
gross earnings have in the past averaged about $2,500,000 per year,
yielding to Goodall, Perkins & Co. about $50,000 annually. The net
earnings for the few years previous to 1895 w ere about $400,000 an­
nually, but for 1895 they decreased to $167, ooo.
The best ships are owned by the Oregon Im provem ent Co. and are
leased to the Pacific Coast 8S. Co. for their net earnings. The Paciflo
Coast SS. Co. covers the coast trade of the P acific from Alaska to M ex­
ico, and with the exception of one steamer belonging to ihe Oregon
Railway & Navigation Co., w hich runs alternately with one steamer of
the Pacific Coast SS. Co. between Portland and San Francisco, the com ­
pany has no rival for the Pacific Coast trade possessing vessels o f equal
size and accomm odations.
The net earnings, w hich seriously declined for the year 1895, will
make even a less favorable showing fo r 1896. A t the date o f this
report there is a war o f rates between Portland and San Franoisoo,
inaugurated by the Southern Pacific Company, who demand 50 per
cent o f all the passenger travel to and from San Francisco and Portland
and Puget 8ound cities. To force a settlem ent the Southern Paciflo
Company is now running special trains on the boat davs at less than
half the usual fa r e ; and because of the crow ds attracted to their trains
on those days, claim to be losing no m ore m oney than before, when
their trains ran partly empty. Because o f these low rates, how ever,
the steamships are losing money every trip. The w ar o f rates affeots
not only the earnings out of Portland but also out o f Seattle.
The freight earnings of the Steamship Company are also very
seriously affected for another reason. Owing to the business depres­
sion there are a large number of sailing vessels and steam schooners
w hich were form erly em ployed in carrying lum ber at hign rates from
the ports of Washington and Oregon southward. At that time the
profit w as so great that these coastwise vessels carried noti iug but
lum ber, hurrying baok to secure further loads. A t present the volum e
o f the lum ber traffic is reduced som ewhat, and the carrying rates m uch
more, so that these steam schooners make it a point to secure, at
m erely nominal rates, merchandise, grain, and like traffic from south­
ern ports and wharves to San Francisco, and general supplies from
Ban Francisoo to all places northward, where heretofore the Paciflo
Coast eteamship Company have had matters all their ow n way, In
like manner the Alaska trade is being actively com peted for.
The Steamship Company has been obliged to m eet this com petition
squarely all along the coast from M exico northwards, by reduoing
their rates to about the level o f com peting smaller vessels. This, o i
course, has had the effect o f stimulating shipments, so that m ore tons
were carried in 1895 than in 1894, but In consequence o f the volum e
o f business the expenses w ere nearly as large as the year before, so
that the los3 ia the net earnings was about the same as the decrease in
gross. It is not to be expected that this condition o f things w ill find
an im mediate rem ed y ; until business mends it is reasonable to sup­
pose that there w ill be m ore or less severe competition.
While no wholesale destruction o f the old-fashioned boats should be
attempted, a large sum of m oney should be provided for repairs abso­
lutely needed in the next few years, and a further sum annuaLly set
aside from the earnings for depreciation and for the making of such
m inor im provem ents as w ill reduce t ‘ e ruuning cost and thus add to
the net earnings of the future. The ships of the com pany are fifteen
years or m ore old, and were built before the discovery o f the triple
expansion engines and other marine inventions which have so greatly
m odified ship architecture on the A tlantic Coast.
The Pacific Coast Steamship Company, although n ot at the m oment
profitable to its owners, has yet a good future, provided its affairs are
conducted under careful supervision and with some expenditure of
m oney, and assuming also that in time business on the Coast w ill
again becom e active and prosperous. The com pany should claim the
control of the Coast trade from Alaska to M exico, and should take
steps to hold it against all comers.
It will be noticed that while there has been a falling off in the
gross receipts o f the company in 1895 as com pared with 1894,
there has been but little reduction in running expenses. Upon this
point it should be recollected that the expeuses o f steamships cannot
be cut down when business falls off, nor can service be reduoed as
easily as can trains upon a railroad be discontinued.
C olum bia & P u get S oun d R R .—Although this road carries ooal,
lumber, clay and general merchandise for other parties than the
Oregon Im provem ent Company, it is as a transporter o f coal from the
mines o f the latter that its chief im portance in the present connection
comes. The freight rates on coal are fixed high enough to yield a fair
profit, and the same charges are made on tbe coal o f the Oregon Im­
provem ent Company as on that o f the Black Diam ond Company or any
other shipper over the road. The com pauy has been able to earn an
annual net return for its owners varying from $125,000 to $150,000
per year; yet m anifestly the amount o f these annual earnings depends
to an im portant exten t upon the quantity o f the coal m ined by the

THE CHRONICLE,

J une 13, 1896,]

1085

Oregon Improvement iCo. i Additional equipment
will
be t h e P a c i f i c C o a s t i s n o w , r o u g h l y s p e a k i n g , e x p e r i e n c i n g t h e
necessary in the tom e li ~ future, and as this additional equipment
can as well be purchased for a standard gauge line, it would be a d u l n e s s o f b u s i n e s s w h i c h w a s t h e m a r k e d c h a r a c t e r i s t i c
matter of economy to change the whole road to a standard gauge this o f t h e A t l a n t i c C o a s t a y e a r a g o . T h e r e i s v e r y l i t t l e p r o f i t
year If possible. This change would extend the sales of Oregon Im­ i n t h e m a j o r i t y o f l i n e s o f b u s i n e s s , a n d t h e r e a r e s o m e c o n ­
provement coal, since the cost o£ transfer and the breaking til the ooal. s i d e r a t i o n s w h i c h l e a d o n e t o t h e o p i n i o n t h a t r e c o v e r y u p o n
arising from trans-shipment, deprive the Oregon Improvement Co. of
...... . ..
ii-t rousts winch they might otherwise t h e P a c i f i c s l o p e w i l l b e s l o w e r t h a n i t s m e r c h a n t s b e l i e v e .
reach. The railroad line of 54 miles contains much trestle work, N o t r a v e l e r , h o w e v . - r , c a n h e l p b e i n g i m p r e s s e d w i t h t h e p o s ­
bat is now In as go d condition as the traffic requires.
s ib ilit ie s f o r c o m m e r c ia l, m in in g
a n d
a g r ic u lt u r a l s u c c e s s in
Oregon. lot pro cement Company.—The steamships owned have
already been discussed The small amount of agricultural land la the t h a t s e c t i o n o f o u r c o u n t r y w h e n o n c e i t i s l e a r n e d t h a t r e ­
c
o
v
e
r
y
i
n
b
u
s
i
n
e
s
s
m
u
s
t
c
o
m
e
l
a
r
g
e
l
y
t
h r o u g h
a
r e d u c t io n in
States of Oregon and W.ishiaeifm are at present unsalable, but witl no
doubt be of same value in the future. The coaL lauds and mines of t h e c o s t o f p r o d u c t i o n , w i t h l o w e r w a g e s a n d s m a l l e r p r o f i t s . ”
the company require, however, fuller treatment.
Probabilities. — ‘ ‘ O w i n g t o s t r o n g c o m p e t i t i o n w i t h t h e P a c i f i c
The Franklin coal field co nsists of 1,920 acres. The coal is a lignite
ami has lieon pronounced by good judges to be the best steam coal C o a s : S t e a m s h i p C o m p a n y o n n e a r l y a l l i t s r o u t e s a n d b e c a u s e
found in the State of Waatungto i. It is calculated that there remains o f t h e g e n e r a l d u l n e s s o f b u s i n e s s , i t i s p r o b a b l e t h a t t h e n e t
in the ground an available, output for the present mines of 3,257,14a e a r n i n g s o f t h e y e a r 1 8 9 6 u n d e r t h e a b o v e e s t i m a t e w i l l n o t
ton s, a qu intHy which at 150,000 tons per year, would take twenty
years to exhaust. The coal has a certain market as a steam-producing e x c e e d , i f t h e y d o n o t f a l l b t l o w , t h e e a r n i n g s a l r e a d y g i v e n
fuel, and Is sold under compulsion to the Pacific Coaat Steamship Co. f o r 1 8 9 3 . B u t w i t h m o r e c o n c e n t r a t e d m a n a g e m e n t t h e r e i s
at a fair protit, but ita sales will always be handicapped by the large g o o d r e a s o n t o e x p e c t a n i n c r e a s e i n t h e e a r n i n g c a p a c i t y o f
cost of production, which averages $2 SO ou the ears, and by the t h e c o m p a n y w i t h i n t h r e e o r f o u r y e a r s , a n i n c r e a s e w h i c h
further fact that $0 tulles away, in British Columbia, as good or better
- .vi ' -pr,-duelog bituminous coal is mined and sold in large quantities w i l l n o d o u b t b e a c c e l e r a t e d w h e n g e n e r a l b u s i n e s s u p o n t h e
all along the coast, la which markets the 40 cents per too custom duty P a c i f i c C o a s t b e c o m e s m o r e a c t i v e a n d p r o s p e r o u s . I f t h e
otiers so obstacle.
p o lic y
o u t lin e d
ia
s y s t e m a t ic a lly
a n d
v ig o r o u s ly
c a r r ie d
The b'ewcasle Held comprises 1,920 acres. Four veins of coal are
mined with an aggregate thickness o f 24 feet, and it is estimated there o u t , t h e r e i s r e a s o n t o e x p e c t t h a t t h e c o m p a n y s h o u l d t h e n
rem its 25,000,000 tons ol uilnable ooal yet in the ground, enough to b e a b l e t o e a r n , s a y 8 5 9 0 , 0 0 0 p e r y e a r , a p p l i c a b l e t o f i x e d
last one hundred years. The old mine having been destroyed by fire, c h a r g e s a n d d i v i d e n d s , ” — Y , 6 3 , p . 1 0 4 1 .
the company has just opened another shaft running into the same
part of the field. Thiamine, now In operation, has about 1,000,000 tons
Fort Worth & Denver City Kailway.
of workable coal in sight, which it is estimated will be exhausted in
about live years.
( Report for year ending December SI, 1895.)
■-■ .
.v
± Iv
i for domesdc us.?;
E a r n in g s a n d e x p e n s e s f o r t h e y e a r 18 9 5 h a v e b e e n r e p o r t e d
it mates a quick, bright fire, somewhat like oannel ooal. but burns
away rapidly. In the semi-tropioal climate of California, where, in a s f o l l o w s :
many households, it Is the custom to cook meals and then to letihe Are
1892.
1895.
1894.
1893.
go oat it h is b o n the favor,to coal of its kind for many rears. l a the
Tear end*Dee. 31— $
8
$
$
C «y o f Seattle also the company has a large trade. Seattle ooal is Gro3S earnings.......1,086,702
1,335,879
1,750,284
1,493,730
of long-established reputation and can he sold. I am convinced, in Op. exp. and rentals 886,924
1,058,402
1,255,874
1,185,985
reasonable qtuntrtle* when the mines are ready to furnish a steady
supply at a cost a little lower than at present and o f a reasouabl y good
Net earnings —
199,778
277,477
312,845
494,410
quality.
Other income............
32,162
23,800
25,719
18,780
Owing to the disasters at the mine in 1899. the sales at San Francisco
of the Seattle or Kswriatle coat were but a third or a fourth of the
Net in co m e ....... 231,940
303,196
336,645
513,190
tons sold in 1391 and 1892. Under tbit shortage of supply from their
Deduct—
own u ioes, the Oregon Improvement Company sold an unusual num­ f oter es t charges .. . . 539,810
509,810
£09,810
510,875
ber of tons of foreign coal, vl*„ 202.501 tons, and realised for the
8,386
company last year the good profit o f # 10,000. Severihelass it is not E xp'ns's prior to rec’p 69,446
open to doubt if a targe q lantity, Svy 100,000or 150,000 tons, ot Nvweastic coal could be mined and transported cheaply to San Francisco
Total................... 587,662.
509,810
510,875
500,810
and there sold at anything lire the profits ruling in previous years,
206,614
Balance, deficit-. 355,722
174,230
sur.8,380
that the Oregon improvement Company would make more actual
money at It* 8 in Francisco office than it does now-, white at the same —V. 62, p. 1040.
time affording a pro hi to the other departments of the company. By
far the largest part of the fate-gn coal sold by the Oregon improve­
GEN ER AL I N V E S T M E N T N E W S
ment Company consists o f Welsh and Australian coal brought to 8au
Fra n eb co for very little by vessel* com ing to get wheat.

Paayte Coimt kaotreiy,~iTim narrow-gauge railroad in Southern
California Was built as a feeder, for the Puo,Me Const Steamship Co,
Tlit, valleys through which If ran- ore very ferfeo and capable of
yielding large *- op* when the rainfall is normal. For the past two
years, however, th ro Is*.* oe.-ir a shortage in the rainfall and a corre­
sponding ‘b-creave is the yield. The coaat line of the Southern Pacific
Comp.o.y has been wt*, filed along the coast to Shu Lul-s Obispo arid
beyond jto Viaduct 43 miles South o f Sun Luis Obispo.—Eos.), until it
is now within (SOmil*’* »*f a ciinneciloa with the HourHern P.icillc lino
irons SuHta Bartow* to i. -- Aussie*,, it looks ou this map a* though
this lifo- root pstaaieird ut« iv-itU' Coast Ball way for its whole length,
but a itip ow*c lire r--si 1 si.orv* h * there are fair- e/.tnl hills h r ween
the two railroads, vvuleh wouM ri ve 'be Narrow (Lingo road til© ad­
vantage of Its owa VWlieyk, The Narrow l-are-e r«*,rd will undoubtedly
lose a ecriftio a.mseint of et-Int-.s to the Southern I'.ulfti: Qtirupahy,
but It* case 1? no* nearly as bud as i supposed. The road-bed and
••qaipmuBt are fairly goo*:, the only expenditure at ptMeot needed be
a
i f old Iron rails, now worn out. by
iWrl rail*, vrlveli urn company already owns. Messrs Goo,iill 1, Pet*,
kina ,k i a r e paid two pet at upon, sir a gross s', irisInu;, of the Pacific.
C'fast ifailsvay, as a part o f the sfeamahip sysieni,

IxUnilion. —
o f

a il

t h e

$ 8 ,4 6 3 ,2 » t f o r
in

a c t iv e

.V

t a b le

p r o p e r t ie s
a s s e ts

u s e ,

b u t

o p e r a t in g

s h o u ld
a t
m

lie

in

m in e s ,
a k in g

th e s e
fo r

t h a t
th e

fo r

e a r n in g *

re a s o n
p o s e s

h a s

w h y
in

it

“ T h e

s h o u ld

n e t

a n d

b e

n e v e r

im

b e

o f

f o r

in t o
to

fo r

a s s e ts

liv e

to

w h ic h
s h a ft s

y e a r s ,

$ 5 0 ,0 0 0 ,

# 1 4 0 ,0 0 0 .

t h e

s u m

a c c o u n t ,

o f

t h is

fo r

b e e n

a s

F r o m
# 1 5 0 ,0 0 0
T h is

a n d

m o n e y

h a v e

n o t

n e w

s t e a m s h ip s .

r a is e

E a r n in g s

a s s e ts

v a lu e .

# 3 9 0 ,0 0 0 ,

o p e r a t io n

o f

d e ­

is

th e s e

th e
p u r ­

f o llo w s :

,---------- 1894-5.----------- . .---------- 1893-1.-----------.
Earnings-—
Gross.
X (1.
Gross.
Net.
Pacific (Mint S3. 00.-82.237,579
#187,122 #2,178,938 #403,843
Pacific Coast Ky. Co.127,286
24,793
113,147
24,771
Col. A Paget 3. BB.CO.
283,051
132,277
324,8*37 151,121
Seattle <k Nor. Ry. Co.
39,137
14,577
40,261
5,212
F o r t Town. 3. RR. Co.
15,026 loss 9,3 L7
11,111 loaslO,888
Oval Department........
507,616
109,911
632,783 159,429
Steamers........ ..............
08,798
3,602
102,328
24,659
T o t a l..........................¥ 3 ,25 8 ,5 0 3
T h e
9 5

g e n e ra l e x p e n s e s

a n d

y e a r s

# 8 9 ,6 9 3 i n

r e s p e c t iv e ly

c h a r g e s

o n

b o n d s

tt>

n e e d e d

b y

is s u e d

th e

t a x e s

is

$3,758,403

a g g re g a t e d

r e d u c in g

$ 3 8 9 ,9 1 7

Cash Requirements.—
c a s h

a n d

1 8 9 3 -9 4 ,

# 4 4 0 ,0 3 0
t h e

a n d

# 5 0 ,1 1 3

n e t in c o m e

$ 8 9 7 ,4 5 5 .

$758,147

T h e

o f

in

18 9 4 -

t h e

t w o

t o t a l f ix e d

$ 6 8 5 ,8 7 0 .

T h e

c o m p a n y

A lb a n y
C o h o e s
o f

b a n y

ia

a n

m e d ia t e

e s t im a t e

o f

A m

s h a re s ,

r e q u ir e m e n t s

w it h

b e e n

Y .

6 2 ,

is

p .

T e le p h o n e

d ir e c t o r s
c e n t a n d

b u t

h a v e
4 ,3 7 0

d e c la r e d
a n

R

y

.— Control Acquired. —

s t o c k
b y

o r

o u t s t a n d in g

in

t h e

a n d

in t e r e s t

7

o f

e x t r a

.— Stock Subscriptions.—

s u b s c r ib e d
s h a re s

t h e

to

fo r

b e

r e g u la r

d iv id e n d

o f

1 7 ,3 3 0

d is p o s e d

o f

q u a r t e r ly

l j - j

p e r

o f

t h e

A m

e r ic a n

W

A

l ­

a t

S t o c k ­
3 1 ,5 0 0

a u c t io n .

d iv id e n d

c e n t .— - V .

6*3, p .

t h e
:

T h e

m ile s

t h e

9 4 8 .

s ta t e d ,

le a v in g

C it y

$ 5 0 ,0 0 0

a c q u ir e d

Bell

e r ic a n
it

C o h o e s

R y ,,

h a s

B y ,—

h o ld e r s ,

T h e

R y .—

C it y

t r a c k ,

p e r

f o llo w in g

tar i m

of May 16, p. 907, and June 6,p. 1039.

a g g re g a t e

o f c o s t o f o p e n in g

d e d u c t e d

last issues of the I nvestors ’ and S treet Ra i l w a y S upple ­
ments may be readily found by means of the following index.
This indew doss not iaelude matter in to-day’s C hronicle .
Z3T For some minor companies see also index in C h r o n ic l e

18 9 5 , a ft e r'd e d u c t -

w e re

o v e r

t h e

T h e s e

# * 3 ,1 2 3 ,7 2 .5

e a r n in g s

t a k e n

n e c e s s a r y

r e o r g a n iz a t io n .”

v a h ie

c o n t in g e n t

p r o v e m e n t

b e e n

n o w

o r

t a x e s ,

f r o m

s h o u ld

a n d

a n d

d is t r ib u t e d

in c o m e

t h e re

is

u s e

f u t u r e

p r o p o r t io n

t o t a l

d e p r e c ia t io n

p r e c ia t io n

a

e s t im a t e d

m e n t io n e d .

a c t iv e

e x p e n s e s

a d d e d

t h e

a b o v e

h a v in g

Income, Are >unt. —
in g

g iv e s

R e o r g a n iz a t io n s ,
E tc. — Latest Data as to Defaults. Re­
organization Plans, Payment of Overdue Coupons, Etc. —
A i l facts of this nature appearing since the publication of the

a t e r -W

o r k s

C o .—

C it y

W

a t e r -W

o r k s

C o .—

o f

3

7 3 5 .

Re­

R.->.bl!,li!ig steamship tju ren . #2 00,0 00; new steamship, equipment organization Plan . — T h e O m a h a w a t e r - w o r k s h a v i n g b e e n
an.1 .tvi:vi!:nr n * c --**ry tor the rvliabllitatlv ; o l the steamship villi other s o l d a t f o r e c l o s u r e s a l e a n d b o u g h t i n f o r t h e a c c o u n t o f t h e
bn9l»f.*a o f the com pany, .$700,000 s Btamlnnl-Kauulng, equipping and b o n d h o l d e r s , r e p r e s e n t e d b y a c o m m i t t e e o f w h i c h E r n s t
extending the Columbia & Puget Mound kP*. to a ju nction with the T h a l m a n n i s c h a i r m a n , a p l a n o f r e o r g a n i z a t i o n h a s b e e n
Northern P ad Ho, when dentrabiH, $250,000; due for tide lands under
contract with the State, $ 110 ,000; developing coal lauds and pur­ f o r m u l a t e d , c o p i e s o f w h i c h c a n b e o b t a i n e d u p o n a p p l i c a t i o n
chasing additional coal p roperty, #115,00 J ; new warehouse, $35,000; t o t h e F a r m e r s ’ L o a n Sc, T r u s t C o . T h e c o m m i t t e e h o l d s 3 , 5 5 9
receiver-hip expenses, *9 0 ,0 0 0 ; total, $1,500,000.
o u t o f 3 ,6 0 0 o u t s t a n d in g b o n d s .

General Business Conditions. —
t h e

b o o m -,

w

h ic h

w o u ld

p r o b a b ly

'‘A s id e
h a v e

f r o m
c o m e

th e
in

c o lla p s e
a n y

o f

e v e n t ,

U n d e r
“W

a t e r

t h e

C o m

p la n

p a n y ,

a
w

n e w
ill

c o m p a n y ,

a u t h o r iz e

t h e

to

b e

is s u e

c a lle d
o f

t h e

t h e

O m a h a

f o llo w in g :

L'HE

] OSH

C H R O N IC L E .

P rio r t u n 2 0 y e ir 5 per oont gold bonds bearing Interest

from July 1, 1896, subject to call at any tim s at 103 and
interest .................... .......................... .....................................$ 1 ,5 0 0 ,0 0 0
Of wbioh to retire $110.00 ) City Water W orks Co. 6s, due
1905. but subject to call in 1900............ .....................................
440,000
For reorganiz ulon and future enlargem ent o f plant, but to
bs used only in oase consols cannot be sold at 9 0 ............... —
1,060,000
Consolidated m ortgage 50-year gold bonds, subj c t to call at
anv time at lo 5 and interest, bearing interest from fu ly 1,
1896, at the rate o f 4 per oont per annum fo r two aud abalf years (this for the first six m onth 1 payable in first
preferred S t o c k on delivery o f securities!, Chen 4 hi p. 0.
per annum fo r 2 >0 years and thereafter 5 per c e n t; total
issue lim ited to ............... ................................................- ........... 6,000,000
Of whioh to redeem prior lien bonds at 105, w henever con ­
sols can be sold at not less th in 9 0 ...........................................
/ ,750,000
In exchange fo r bonds deposited ........ .............. .............................
3,600,000
F o r im provements, but only after the prior lien bonds re­
650,000
served for this purpose have been sold or can celed ............
F irst p referred stock, non-cumulative, subject to call at par,
preferred as to assets and incom e, entitled to receive
dividends after deducting from gross incom e taxes, co st
of operation, maintenance, additions, im provem ents, in­
terest on indebtedness, and any amounts deem ed neoessary for w orking cap ital.............................................................
750,009
Second p re fe r re d stock, 5 per cent, non-cum ulative, subject
to cull at par......................................................................- ........... 1,000,010
Com m on s to ck ................................................................................... 2,500,000
All classes o f stock are to be held in trust and voted bv the com ­
mittee o its nominees uutil both olasses o f preferred stook shall have
received 5 per cent per annum for five consecutive years. Benefioial
certificates w ill be issued.
The cash requirements are $1,060,000, including $440,000 for e x ­
penditures upon the property and $260,000 fo r coupons 1892 93.

Distribution o f Securities.—The old securities on payment
of assessment receive new securities as follows:
■ And R e c e iv e
1st P re f.
N ew
Stock.
A ssessm ’ t . Consols.

O ld S e c u r it ie s .
Americau Water Works
Co. of 111. 6s.................

Pat

2 d P ref.

Com.
Stock.

28%
15%
100%
17%
15 35
15%
100%
17%
Am. Water Work's Co.
10 1%
—
of N. J. pref. s t o c k ... 1 0 %
.........
.........
The 17 per oent in drst preferred includes the first six months i n ­
terest on the new consols.
Overdue coupons prior to Jan. 1. 1894, if deposited, w ill be paid in
cash on or before Aug. 1,1896. Coupons due Jan. 1 ,1 8 9 4 , and subse­
quent m ust be attached to the bonds.
City water works 6s may be exchanged for receipts exchangeable
for 110 p er cent in prior lien bonds, If issued by Oct. 1 ,1 8 9 3 ; other­
wise bonds to be returned.

E a rn in gs. —It is estimated by the engineer that the net earn­
ings for the next five years will be about as follows : For 1896,
§239,000; for 1897, $261,000; for 1898, §365,000; for 1899,
§269,000 ; for 1900, §273,000.
The fixed chargis for the first two and one-half years may
vary from §190,000 to §200.000, but should not exceed tha. limit.
B on dholders’ R ig h ts Upheld —The committee says :
The foreclosure sale was reached only in fa ce o f the most persistent
opposition, which carried the litigation to the Supreme Court o f the
United States. Throughout this litigation the courts have uniform ly
decided in favor o f the bondholders. The com m ittee has no reason to
suppose that any new attaeks upon the rights o f the bondholders will
meet with any greater su< cess than the opposition already made. In
the action brought by the city o f Omaha, the attem pt to enjoin the
foreclosure sale was prom ptly defeated, aud the oom m ittee has no fear
that the city, which has never questioned the validity o f any m ortgage
on the water-works plant, but. in the language o f the Court o f A p re its,
“ has, hitherto, for a long period o f time recognised the assignability
o f the contract, under and bv virtue o f whieh the water-works plant
was constructed,” can impugn successfully the rights which have been
so thoroughly established in the foreclosure suit.— V. 62, p. 987.

Anaconda Copper Mining.—S tock P u rch a sed by F o r eig n
entire stock holdings of the Hearst estate,
amounting to 270,000 Bhares, have been purchased by the
Rothschild-Exploialion Company-Cassel syndicate. The price
paid is said to have been a little less than §28 per share, or
§7,000,000. Kuhn, Loeb & Co. financed the transaction.
The foreign syndicate, it is understood, now controls very
nearly a majority of the 1,200,000 shares.—V. 61, p. 749.
Atlanta Knoxville & Northern Ky.— Marietta & North
Georgia RR.—R eorg a n ized C om pan y C h a rtered . —A charter
for the reorganization of the Marietta & North Georgia under
the name of the Atlanta Knoxville & Northern Ry. Co. was
granted at Atlanta, June 4.—V. 62, p. 1040,
Atlantic & Danville Ry.—L istin g o f B on d s, —On the New
York Stock Exchange have been listed §1,238,000 first mort­
gage 5 per cent gold bonds of 1950. The official statement to
the Exchange we will publish next week.—Y. 62, p. 867.
Baltimore & Ohio RR.—P refe rr ed Stockholders’ C om ­
m ittee. —At a conference on June 5, at which §2,000,000
of the $3,000,000 preferred stock was represented, James L.
McLane, John Gill, and John A. Whitridge, were appointed
a committee to take measures for the purpose of ensuring the
payment of the dividend due July 1. The Johns Hopkins
University owns, it is said, nearly §1,000,000 of the preferred,
and with the other holders, claims, that its stock certificates
have the force of a first mortgage lien by virtue of the fol­
lowing embodied in the certificate :
“ The owner of this stock is entitled to a perpetual dividend
of 6 per centum and no more upon the said shares, payable
out of the gross profits of the said company, under the terms
of the original subscription of the State of Maryland for said
stock and under the guaranty of the said B & O. Railroad
Co., etc.”
P a y m en t o f B a ltim ore B elt C oupons D u e M a y 1.— The repeivers on June 6 announced that the coupons of the Balti­
more Belt RR. Co. due May 3, 1896, would be paid on
presentation at office of Brown" Brothers & Co. New York, and
Alexander Brown & Sons Baltimore.

S yn dicate. —The

•

[V ol. LX11.

P a r ty to R eceiversh ip S u it. —The Union Trust Co., as trus­
tee, under the deed securing the gold 5s of 1935 (Pittsburg &
Connellsville second comols as collateral) has asked to be
made a party defendant to the receivership proceedings uider
the consolidated mortgage, on the ground that the B .& O.
having agreed to secure the gold 5s of 1925 by any future
mortgage on its main line, executed the consolidated
mortgage in 1887 without including them in its lien.—See
editorial, Chr onicle , April 35, 1896, page 761. The motion
will be heard June 20.—V . 63, p. 1039.
Brookline Gas.—Bay State Gas.—New B o n d s.— The stock­
holders of the Brookline Gas Co. on Juae 11 authorized the
issue of §1,000,000 new bonds.—V. 62, p. 868.
'Brooklyn Rapid Transit.—L is tin g o f B o n d s .—On the New
York Stock Exchange have been listed $4,875,000 5 per cent
fifty-year gold bonds of 1945.—V. 62, p. 276.
Brooklyn Union Gas Co.—L is tin g o f S tock an d B on d s .—
On the New York Stock Exchange have been listed $12,336,000 first consolidated mortgage fifty-year 0 par cent gold
bonds of 1945 and the §15,000,000 capital stock. Additional
bonds, reserved for exchange, may be added up to a total of
§14,500,000 as issued. The company, it is stated, has sold
to the Mollenhauer Sugar Refining Co. the water front prop­
erty on which is located the works of the old People’s Gas
Light Co. at something over §300,000.—V. 63, p. 908.
Calgary & Edmonton Ry.—A greem en t w ith C a n a d ia n P a ­
cific. —The ciicular mentioned last week says in substance :
An agreement hag been settled betw een the officers o f the tw o com ­
panies (subjeot to the approval of the shareholders), w hich provides
for the op-ration o f the road fo r a term o f five years from 1st July,
1896 (subject to the tight of the Calgary Company to term inate the
agreement at any time), by the Canadian Pacific, at ao ual oost, with
out charge fo r general management, and under the directions o f an
officer of the Calgary C om pan y; for the supply o f the necessary roll­
ing stock, &o , by the pacific Company, without auy charge for iuterest
on its value so long as it op erat-s the railw ay; for iu teroh iog e o f tra f­
fic, allowing the Calgary Company a larger proportion o f earnings on
joint trafflo than its actaal m ileage w ould entitle it to, and 10 per cent
of the earnings of the Pacific Company on its lines west o f Port
Arthur on passenger business interchanged, with the ex ce p tiin of im ­
m igrant business; and also for the use o f terminals at C dgary w ith­
out charge. By this arrangem ent the total net earnings and the
$iO ,uoo per annum Governm ent subsidy w ill be a optic ibie to the pay­
ment of the interest on the bonds, and on tbe basis o f tbe earnings and
working for last year should give a m inimum return o f
per cent to
the bondholders. For the balance of any coupon not paid in oash bond­
holders w ill receive sorip—redeem able out o f surplus earnings.—V. 62,
p. 1039.

Calumet & Blue Island Ry.—Chicago Lake Shore & East­
ern Ry.—Illinois Steel.—New M ortgage. — Hie Calumet &
Blue Island Ry. Co., owned by the Illinois Steel Co., has
made a mortgage to the Merchants’ Loan & Trust Co., of Cnicago, as trustee, to secure bonds, of which §1,310,000 are re­
served to take up at or before maturity existing bonds, that
at last accounts were owned by the Illinois Steel Co. Of the
new loan §700,000, it is stated, will be used to purchase the
capital stock of and build the Chicago Lake Shore & Eastern
to Clark’s Junction, and §500,000 be held for extensions and
improvements. The mortgage also provides that bonds to an
unlimited amouat in excess of the original §2,510,000 may be
issued, but only for the actual cost of extensions and improve­
ments.—V. 62, p. 868.
Central Pacific R R .—L istin g o f S eries “ A ” B on d s E x ­
tended to J an. 1, 189S. —There have been listed on the New
York Stock Exchange the §2,995,000 first mortage series “ A”
"bonds, due July 1, 1895, and extended per agreement in
Chronicle of May 18, 1895, page 873. Such extension is
manifested by stamping upon the face of the bonds the fol­
lowing words, viz : “ Extended by mutual consent to Jan. 1,
1898, as per agreement attached,” and by attaching to such
bonds an engraved agreement and engraved coupons.
In extending such bonds it was ascertained that $317,000
bonds of such issue bad been from time to time purchased by
the Secretary of the Treasury of the United States for the
sinking fund under the “ Thurman Act,” aud had been
stamped with the following words, viz.:
Sinking F unb C entral P acific RR . C o m p a n y , A ct M a y 7, 1878.
S ec . 3. All the bonds belonging to said fu n d shall, as fast as they
shall be obtained, he so stam ped as to show that they belong to said
fund, and that they are not good in the hands o f other holders than
the Secretary o f the Treasury until they shall have been endorsed by
him, and p ublioly disposed o f pursuant to this Act.
This boi.d has been publicly disposed o f pursuant to the A ct o f Con­
gress entitled “ An A ct to alter and amend the A ct entitled * An A ct
to aid in the construoiiou of a railro ad aud telegraph line from the
Missouri R iver to the Paoiflo Ocean,and to secure to the Governm ent the
use of the sam efor postal, m ilitary and other purposes,’ approved July
1, 1862, and also to alter and amend the Act of Congress approved
July 2 ,1 3 6 4 , in amendment o f said first-named .Vet, ’ approved May
7, 1878. This disposition is made of this bond with the exuress under­
standing th a tn o future liability accrues against the United States or
the Secretary o f the Treasury.
Signed by authority of the Secretary o f the Treasury.
0. N. J o rd an ,
A ssist. T rea su rer 77. 8. a t N ew l'o rk .

Of the extended bonds, therefore, §2,778,000 are placed on
the “ regular ” list of the Stock Exchange and §217,000 on the
“ special” list, as “ Government stamped.”—Y. 62, p. 1039.
Chesapeake & Ohio Ry .— L istin g o f $101,000 C on sols .—On

the New York Stock Exchange have been listed §101,000 5 per
cent consols, issued agaiDSt a like amount of 6 percent equip­
ment bonds retired.— V. 62, p. 683.

Chesapeake Ohio & Sonthwestern.—F oreclosu re Sale
foreclosure sale is advertised to take place un­
der the second mortgage July 25 at ^Louisville, the upset
price to be §1,500,000.—V. 62, p. 1039.
Ordered.—The

June 13. 1896.]

THE CHRONICLE.

Chicago Hreat Weatern H r —Listing.—There have been
listed on the New York Stock Eichauge $20,809,145 common
stock and $7,414,190 preferred stock “ B.”—V. 63, p. 319.
t'leytdand 4 Pittsbnrg RR.—Listing o f $316,000 General
Mortgage Bonds —There have been listed on the New York
Stock Exchange $316,000 general mortgage bonds, issued on
account of improvements and additions, making total
amount of Series B listed to date $1,561,000.—V. 62, p. 546.
Colnmbns A Hocking Coal 4 Iron.—S tock A ssessm en t.—
The Stockholders’ Committee has issued a circular setting
forth the facts regarding the company and stating that the
foreclosure proceedings are held in abeyance in Court
awaiting the action as to the payment of the interest on the
bonds due July 1. Stockholders are asked to deposit their
stock with the Farmers’ Loan & Trust Co. before June 25,
agreeing to an assessment of three dollars a share, the first
instalment of which will be fifty cents a share, payable at
time of deposit. Stockholders paying the assessment will be
given preferred stock in the reorganized company for the
amount of the assessment and comm on and preferred stock
in an amount proportionate to the stock deposited. The com­
mittee consists of; Frank B. Keecb, New York: Daniel N.
Crouse, Utica; Frank T. Redwood, Baltimore; John Bloodgood, Mills Building, New York, Chairman.—V. 63, p. 821.
Columbus Sonfhern Ry.—Foreclosure Sale Ordered.—The
receiver, under date of June 3, writes: “ An order for the sale
of the road was passed by Judge Newman at the May term of
U. S. Court. No date has been fixed for sale.”—V. 61. p. 470.
Consolidated Traction—Pittsbnrg Traction—Buq’tesne
Tract inn—Central Traction.—Exchange o f Stock—Pla7i S u c­
cessful.—The C h r o n i c l e is o ffic ia lly in fo r m e d th a t o f th e
lea-ed lin e s’ s t o c k s e m b r a c e d in th e o i l e r to e x c h a n g e , the
following a m o u n ts h a v e b e e n i t im e d in :
C om pany —

Total sh o rt* .

Central T raction. . . . . . . . . . . . . . . . . . . . 30,000
Pittsburg Traelton.......... .............. . . . M1.0O0
Duquesue T raction........... ................ CO.OOO

Kxenanyett.

26.0nO
3 9 / ‘00
51,000

Since the receipt of these stocks June 1 no further move­
ment in the raaiter hag been made. A dispatco to the New
York Times on Sunday last said :
Many report* have been In circulation regarding the form ation o f a
combination o f the road* on the north and south sides which were
no* included to the Consolidated Traction, but nothfug definite has
yet been Nc.-owiiifshed. The lotereats o f the two com binations would
r o t eoofl i t. but tb« Consolidated would hare th* advantage o f being
backed by tbose who are In control o f municipal affairs. —V. 62, p. 916.

Ifni nth 4 Winnipeg RR.— Decision o f Court.— At St.
Paul. June 8. the Court of Appeals announced its decision in
the foreclosure eut'. sustaining the trustee in every particular
and exonerating President Van Horne of the Canadian
Pacific from charges of fradulently acting in collusion with
the trustee for the purpose of foreclosing the mortgage. The
foreclosure sale, jt is now expected, will take place about July
15.—V. 62. p. 908.
Frederick 4 Pennsylvania Line BR.—Pennsylvania RR.—
Sold in Forelosure —The Frederick & Pennsylvania Line
RR., extending from Frederick, Md., 28 miles, to near Kingsdale on the Hanover & York RR. (Pennsylvania RR. system),
was sold June 9, under foreclosure of a $250,000 mortgage of
1870, to John C. Sims, representing the Pennsylvania RR. Co.,
for the sum of $150,000.—V. 62. p. 726.
Lrand Rapids A Indiana R K .—Sold in foreclosure fo r
$500,000 .—This property, Exclusive of the land grant, was sold
in foreclosure June 10 under the second mortgage and bid in
for $500,000 by a representative of the Pennsylvania RR..
which owns the 2nd mortgage bonds. The sale was made
subject to the first mortgage bonds on which was owing Oct.
1, 1895, $6,157,818 and equipment obligations for $358,554. No
definite plan for reorganization, it is understood, has been
agreed upon, but when issued it is expected to make some
provision for the $3,899,000 general mortgage bonds, which
are shut out by the sale. The Pennsylvania, it is thought, may'
decide later to manage the road direct from its own general
offices.—V. 63, p. 821.
JarksonTllle LonisrlUe A St. Louis By . —Sold in F o r e ­
closu re .—This property was sold in foreclosure June 10 to the
bondholders’ committee for $250,000, su >jec* to the Jackson­
ville Southeastern mortgage for $3)0,000.—V. 63, p. 908.
Kansas City A Omaha 'RR.—Reorganization Deferred.—
Plan fo r Purchase o f Property.—Bonds Assessed $100 each.—

The circular referred to last week states substantially as fol­
lows the plan of the bondholders’ committee for the purchase
of the property, at foreclosure sale, for assessing the bonds
$100 each and for deferring complete reorganization until Che
value of the property can be ascertained .
Tti* foreclosure *ule ho* been fliw l for early in July, 189(5. The <lepre© rt qiilr* « lb* p lyrnent at time o f sale o f #150.000 In ca*h to meet
the lotlcbtedneftA o f the recelv* r and the coat* o f foreclosure. As it is
impotalh © to a*e©e* the stock holders, an asaessmentou;the bondholders
is D K P ^ r y to s*ve th© property.
Owing to tin* depressed condition o f business generally daring the
last three
and tb© Almost entire failure o f crops in the section
tT»v»'r*ed tiy the road, the present earning* are considered not a fair
basin for reorganisation. The com m ittee is o f the opioion that it will
be better to buy the property and to operate it until its worth as an
independent In** or as a fee ler to one o f the greater roads, shall have
b©«n ascertained cud the am ount and olats o f securities it can safely
bear shall have been determined.
A fter full c o o d e r a t io n , and with the approval o f parties holding a
large majority o f bonds, the undersigned comm ittee has form ulated
the following plan, to w it :
To
the bondholders In order to provide for the foliow iug re*
qoir*uu« . 1*. vis.; First, to pay the deposit «»f $15»>,000 required upon
purchase o f the p ro p e r ty ; secondly, to make necessary repairs and

1087

additions to the track, bridges and rolling s to ck ; thirdly, t<> provide a
reserve fund to be ea led on only if necessary, and fourthly, to pro­
vide for legal and other expenses. Such assessment to be $ 00 per
bond, of w elch amount $ 7 t to be paid on or before June 20. 1806, and
thn remainder, beiug $25 per bond, to be paid when called for by the
comm ittee in instalments o f not to exceed $10 each at least thirty
da\ s apart.
The comm ittee is to be authorized to buy in the property for the
benefit exclusively of the bondholders payiug the assessment aforesaid,
to organize a com pany and to transfer tli-*> property purchased to such
new company, receiving in exchange therefor u s stock, or stooks and
bonds, all of which are to be held for the present by the oommitiee.
A plan for a permanent reorganization or disposition of the property
will be hereafter submitted, and wheu approved by the holders of
certificates represeutiug 70 per cent o f the bon Is and certificates upon
which the assessment has b te o paid, sh ill be blading upon all the
holders o f certificates subject to the provisions hereof, providing that
such plan shall not impose persoual pecuniary liability on such hold­
ers. Bondholders and certificate holders who do not assent hereto
and pay the first instalment o f their assessment at the Central I’rusfc
Company on or before June 20, 1896, will not be entitle i to partici­
pate in the benefits o f any purona-e made by the comm ittee, and nonassenting certificate holders are entitled and *equested to withdraw
their bonds as provided ia Article 6 of the Bondholders’ Agreem ent.—
Y. 62, p. 1040.

Kentucky & Indiana Bridge.—L a st Coupon P a id —The
coupons due Sept. 11, 1895, on the first mottgage bonds were
paid with interest from maturity Jan. 11, 1896, at the Louis­
ville Trust Co., Louisville. There has been no new agreement
looking to a re-organization. Various suits are pending
concerning the company, but as there are several underlying
properties, such as terminals, etc., up to this date the court
has not rendered any decision as to the conflicting iiens
claimed by the parties. It is stated that there is no prospect
of a final judgment before the courts convene again next
October. The Railroad Commissioners of the State of Ken­
tucky in their report recently issued say that the Southern
Railway, tne Baltimore & Ohio Southwestern aod the Louis­
ville & New Albanv have acquired a majority of ihe securities
of the K. & I. B.—V. 61. p. 794.
L ike Street Elevated U R .—New M ortga ge T rustee.— T he
Equitable Trust Co. of Chicago has been appointed co-trus­
tee with the American Trust & Savings Bank under the Lake
Street Elevated mortgage, to take the place of the Farmers’
Loan & Trust Co.—V. 63, p. 1040.
Lehigh Valley RR.—C ar T rusts. —As previously stated,
(C hronicle . March 21, 1896, page 548), Brown Brothers & Co.
took the $1,000,000 of car trusts, covering 2,000 freight oars,
mentioned in the annual rep >rt. The same bankers have now
taken a second series for $500,000 of 5 per cents, dated 1896,
and payable 10 per cent annually, covering 1,000 coal cars
and a Dumber of stock and combination cars Neither car
trust includes the 25 locomotives recently ordered, which will
be paid for out of earnings.—Vol. 62, p. 1040.
Lehigh Valley Ry. of New York.—Q uart r ly . —This com­
pany comprises the Lehigh Valley RR. lines in New York
State, 283 miles. Earnings for the quarter and the six months
endiog March 31 hive been reported as follows:
3 months
end. March 3 1—

Grots
earnings.

Ifet
earnings.

interest.
taxes, etc.

Balance,
surplus.

1 8 9 6 ............................. .$ 1 ,1 0 ’ , £46

$ 2 5 8 ,8 0 9

$ 2 2 9 ,6 1 3

947,959
1895
.....................
6 months—
1895-96 ..................... $2,614,820
1894-95 ............ ........ 2,274,323

237,012

198,971

38,041

$8*6,9 77
707,114

$490,378
425,681

$396,599
281,433

$ 2 7 ,1 9 6

— V . 62, p. 4 14, 548.

Manhattan (Elevated) Ry.—A ssessm ent Stands. —The Ap­
pellate Division of the Supreme Court, ia a decision handed
down Friday, June 5, confirmed the action of the Tax Com­
missioners in assessing the property of the Manhattan Com­
pany at $16,496,995 for taxation. The decision, written by
Justice Van Brunt, all the justices concurring, says: “ It ap­
pears from the reports made to the Railroad Commissioners,
and from the fact that the company was able to pay a divi­
dend on its stock at the rate of 6 per cent, that the company
was not in the poverty-stricken condition it thought to make
the Tax Commissioners believe.”—V. 62, p. 1040,
Milwaukee Electric Ry. A Light.—O rdinance.— The Com­
mon Council of Milwaukee on Monday passed an ordinance
requiring the company to sell twenty-five tickets for a dollar.
It is stated that the Farmers’ Loan & Trust Co., as mortgage
trustee, will file a bill in equity in the United States Cirouit
Court to restrain the city from enforcing any measure in
violation of the existing contract permitting a maximum fare
of 5 cents, and disputing the necessary assumption on the
part of the city that the proposed rate is a reasonable one.
P u rch a se o f W a u w atosa M otor L in e. —The Mdwaukee &
Wauwatosa Electric Ry. & Light Co. has been purchased by
the Milwaukee Electric Ry. & Light Co., which will take
possession July 1. The Wauwatosa Co., it is understood, has
outs*anding $300,000 capital stock, and has a mortgage
for $100,000, its line extending to Wauwatosa and embracing
12 miles of track operated with steam.—V. 62, p. 1041.
Missouri Kansas A Texas Ry.—C on solid ation w ith Sub­
sid ia ry C om panies —At the recent directors’ meeting at
Parsons, Tex., it was voted to increase the capital stock $5,450,000, the new stock to be issued in exchange for’the capital
stock of the following subsidiary railroad corporations: South­
western Mineral, in Kansas, capital stock $600,000; the St.
Louis Kansas City & Eastern in Missouri, with a capital
stock of $350,000, and the Missouri Kansas & Eastern, which
owns the new St. Louis line, with a capital stock of $4,500,000. The stocks exchanged will be canceled.—V. 62, p. 778.
National Wall Paper.—In terest m a y be P a id .—Judge
Hoyt H. Wheeler, of 'lie Unit d States Circuit Court, has
dismissed the suit of Henry M. Washburn and others to pre-

THE CHRONICLE.

1088

rent the payment of interest on the company’s debenture
stock, deciding that the profits of the company warrant such
payment. “ When the suit was brought,” sa y s Judge Wheeler’s
decision, “profits had not been made sufficient for the ensu­
ing interest. Now sufficient profits have been ascertained
and certified by auditors, according to contract, to warrant
the payment.” The decision adds in substance:
The law o f the State o f New York prohibits corporations from mak­
ing dividends to the Impairment o f the stock. I f this debenture stock
•was like ordinary stook, this interest could not law fully be paid; but
this is not exactlv like a dividend upon stock. B y the term s o f the
con tra ctor organization this interest is cum ulative. I t is a debt rather
than a dividend. No law prevents a corporation from paying its
debts.—Y. 61, p. 1065.

New York & Harlem B R „ Madison Avenue Line —Met­
ropolitan Street It j . — P ro p o sed L ea se.— T he stockholders of
both these companies will act July 15 on the proposed lease
of the surface lines of the New York & Harlem RR. to the
Metropolitan Street Ry. of the Metropolitan Traction system.
A circular signed by President Cornelius Vanderbilt, of the
New York & Harlem, says that the lease is for 999 years from
July 1, at a rental |of §350,000, equivalent to 3 % per cent on
the capital [stock, for the first five years, and of §400,000,
equivalent to 4per cent on such capital, thereafter. The lease
of the real estate used for depot purposes at Tbirty-second
Street and Eighty-sixth Street is for three years only, because
it is expected that within that time the problem of traction by
other than horse power will have been solved, and the lessee
company will no longer require stables. Actual possession of
the line, it is stated, will not be taken until after the stock­
holders’ meeting.—V. 62, p. 949, 990.
New York A Sea Beach RR.—Sold in F o r e c lo s u r e — At the
foreclosure sale Thursday the property was bid in for $250,000
by Henry Mann, representing, as it is supposed, the bond­
holders.—V. 62, p. 1041.
Norfolk Albemarle & Atlantic RR.—Norfolk Virginia
Beaeh A Southern RR.—R eorg a n ized C om p a n y .—The name
of the Norfolk & Albemarle Atlantic RR. has been changed to
Norfolk Virginia Beach & Southern RR.—V. 62, p. 909.
Norfolk & Western R R .—R eceivers' C ertificates Called fo r
P a ym en t. —The receivers give notice that all their receivers’
certificates have been called for redemption, and will be paid,
with interest, on Sept. 14, 1896, at the Mercantile Trust Co.
—V. 62, p. 1041.
North American Co.— P a ym en t o f C olla tera l T ru st N otes.
This company yesterday paid to the Central Trust Company
$1,000,000, taking up the balance of the collateral trust notes
which were issued in April, 1895. About $1,200,000 of these
notes were retired a month or so ago. The money used to
take up the entire issue of $2,200,000, was procured by the
sale of Milwaukee Street Railway bonds abroad.—V. 62. p. 870.
Northern Pacific R R .—Settlem ent w ith H elen a & R ed
M ou n ta in B on d s. —The managers of the Northern Pacific re­
organization offer to holders of Helena & Red Mountain RR.
bonds for each $1,000 bond, with all unpaid coupons attached,
$1,000 par value in the new preferred stock trust certificates
of the reorganized Northern Pacific Railread. To participate
in thiB arrangement holders of such bonds must deposit same
not later than June 30, 1896. The foregoing offer has already
been accepted by a majority in amount of the bonds. See
notice in another column.
Cash P a y m en t o n B on d s D ep osited . —The managers of the
reorganization announce that, pursuant to the plan of reor­
ganization, they will pay on and after June 23, 1896, in cash,
the following sums on bonds deposited under the plan, viz :
4 per cent on general second mortgage bonds ; 3 per cent on
general third mortgage bonds ; 3 per cent on dividend certifi­
cates ; 1 per cent on consol, mort. 5s. -V . 62, p. 950, 1041.
Old Colony R R ,—New S tock . —R. L. Day & Co. of Boston
will sell at auction June 20, by order of directors, 2,000 shares
of Old Colony stock.—V. 62, p. 684.
Omaha & St. Louis R R .—R eo rg a n ized C om pan y. —This
company has been incorporated in Missouri as successor to
the Ry. of the same name foreclosed Jan. 27, ’96.—V. 62, p. 822.
Oregon Improvement Co.— O p p osition to P la n . —H. Amy
& Co., 44 and 46 Wall Street, New York, request holders of
5 per cent consols dissatisfied with the plan of reorganiza­
tion as presented by the committee to send them their names,
that steps may be taken for their mutual protection.
E a rn in gs. —The earnings for the fiscal year ending Nov.
30, 1895, accompany the abstract of Mr. Greene’s statement
under the heading “Annual Reports.” For the current year,
during which competition with the Southern Pacific has been
severe (see Mr. Greene’s statement), the earnings have been:
.---------- 1 8 9 6 -----------,
Gross
N et
December, 1895.......
$240,327 def.$4,508
January, 1 8 9 6 ...............
244,205
11,512
February, 18 96.............
226,959
4,257
March, 1896..................
278,188
7,332
April, 1896.....................
281,501
27,805
Total 5 mos.flscal yr. $1,271,180
—V. 62, p. 1041.

.------------ 1895----------,
G ross

N et

$277,197
262,576
235,673
251,196
251,776

$21,893
20,943
10,723
12,125
27,854

$46,398 $1,281,418

$93,538

Oregon Ry. & Navigation.— F oreclosu re Sale J u ly 9.—R eo r­
foreclosure sale is now advertised to
take place July 9, 1896. The reorganization committee there­
fore gives notice that further deposits of stocks and bonds will
be received under the plan on payment of a penalty of $50
per bond and $1 per share of stock up to and including July 7,
1896, after which date no deposits can be received. See ad­
vertisement in another column.—V. 62, p. 1011.
ganization N o tice .—The

[V o l . L X II.

Oregon Short Line & Dtah Northern Ry.—Third In sta l­
m en t on S tock P a ya b le b y J u ly 1.— Depositors of stock are in­

formed by the Reorganization Committee that the third in­
stalment of $3 per share is called to be paid on or before July
1 at the Manhattan Trust Co. of New York or the Old ColonyTrust Go of Boston.—V. 62, p. 910.
Pecos Valley Ry.—R e o rg a n iz a tio n P la n and E x te n s io n .—
To provide for the extension of the Pecos Valley from its
present terminus, at Roswell, N. M., to a connection with the
Atchison Topeka & Santa Fe, at Washburn, a distance of
208 miles, it is proposed to reorganize the company. The
present mortgage will be foreclosed. The new capitalization
will be $3,162,000 first mortgage 5 per cent bonds, $3,162,000
preferred 6 per cent stock, non-cumulative, and $3,162,000
common stock.
The old first mortgage bonds, with October, 1895, and sub­
sequent coupons, will be given 120 per cent in the new pre­
ferred stock. The new first mortgage will cover the entire
line from Pecos to Washburn, 372 miles, and its bonds to the
extent of $2,790,000 will be issued, together with the common
stock, for the purpose of providing the funds for the new con­
struction.
Pending reorganization the road has been placed in the
hands of a receiver, and $110,000 of receiver’s certificates
have been authorized, to pay off the floating debt and to make
some improvements in bridges, etc. The Reorganization
Committee consists of Messrs. J. J. Hagerman, JohnS. Wise,
William Rotch, Benjamin Graham, Charles A. Otis and D.
McCool. The depository is the Central Trust Co. of New
York. Deposits will be received to July 1.—V. 60, p. 950.
Pittsburg & Western R R .—R eceiver's C ertificates. —We
are informed that an issue of receiver’s certificates for $500,600 has been authorized, of which $250,000 has been issued.—
V. 62, p. 822.
St, Lawrence & Adirondack Equipment Co.—I n c o r p o r ­
a tio n .— This company was incorporated June 10, with author­
ized capital stock of $225,000, to manufacture, sell and lease
locomotives, cars and other railroad equipment. The direct­
ors are: John H. Prall, Frank W. Speir and Henry L. Sprague,
of New York City.
St. Louis & San Francisco Ry.—L istin g o f R e o rg a n iz a tio n
C ertificates f o r $13,508,600 C onsol. IfS.—The total amount of
consol. 4s outstanding is $14,349,500, of which $13,508,600
have been deposited under the reorganization agreement.
Representing these have been listed on the New York Stock
Exchange $13,508,600 Mercantile Trust Company engraved
certificates of deposit “ final instalment paid,” the total
assessment being 10 per cent.
A ll classes of stock of the new company are to be vested in
the seven voting trustees and on the terms named in the
plan. (Chr onicle , May 2, 1896, p. 830).
The application to the Exchange says :

The Reorganization Comm ittee believes tbe new com pany will be
able to earn tbe Used charges,w biob the plan reduces from $2,531,074,
as at present, to S I,994,330, exclu sive o f the interest upon bonds
which m ay hereafter be issued to acquire $4,052,000 branch line
bonds. The plan provides for the paym ent o f all car trusts, and the
new com pany w ill start with no debt other than the funded debt, as
stated in the plan, and with ample provision fo r future im provem ents
by the reservation of bonds for this purpose.—V. 62, p. §70.

San Francisco Gas Light.—Edison Light & Power.—
companies have agreed to consolidate,
the consolidated company to [issue $12,750,000 capital stock
(authorized issue $24,000,000), of Which $10,000,000 to the
stockholders of the gas company and §2,750,000 to the stock­
holders of the electric company.
Seattle Lake Shore & Eastern Ry.—Safe C on firm ed .— At
Seattle, Wash., June 10, Judge Hanford overruled all objec­
tions and confirmed the recent foreclosure sale. He intimated
to those opposing the sale (chiefly the Northern Pacific RR.
Co.) that they still had recourse in the Circuit Court of Ap­
peals.—V. 62, p. 950.
Summit Branch RR. —P r o te c tiv e M easures. —Stockhold­
ers are invited to send their names, addresses and
amount of stock owned to R. G. Amory, 45 Milk Street,
Room 56, Boston, with the object of uniting for mutual pro­
tection, and if necessary of forming a “protective commit­
tee.” The bondholders have associated for protection, and
are represented by the Penn. Co. for Insurances on Lives &
Granting Annuities, of Philadelphia, who solicit co-operation
of all bondholders. The Pennsylvania RR. owns a majority
($2,190,200) of the $4,010,350 stock, and it is said a majority
of the $1,087,000 bonds, though only $487,000 appears among
the securities in its treasury. The Pennsylvania, it is claimed,
proposes foreclosure proceedings.—V. 62, p. 500.
United States Rubber—D ivid en d a n d Officers.— The di­
rectors at a meeting Wednesday declared a semi-annual div­
idend of 4 per cent on the preferred stock, payable July 15,
and elected the following officers: President and General Man­
ager, Robert D. Evans; Vice-President, JamesB. Ford; Treas­
urer, Charles R. Flint; Secretary, Samuel P. Colt; Assistant
Treasurer, M. O. Martin. The following executive committee
was also elected: Robert D. Evans, Charles R. Flint, Samuel
P. Colt, M. C. Martin, Henry L. Hotchkiss and James B.
Ford. A representative of the company is quoted as saying
that the reason for the closng of the factory managed by Geo.
H. Hood was that this factory and that of the Colchester
Co. were the only two concerns in which the United States
Rubber Co. is interested which showed a loss.—V. 62, p. 952.
C on solid a tion . —These

W

F o r o th e r lo v e s t m e a t Item s see P a g e ]1 0 9 S .

THE CHRONICLE.

June 13, 1896.]

■ R e p o rts

iu u l

SOUTHERN

1089

^ D o c u m e n t s . _____________

PACIFIC

COMPANY.

A BSTRA CT OF TH E REPORT FOR T H E Y E A R ENDING DECEM BER 31, 1895.
To the Stockholders:

N e w Y ork , March 23, 1896.

The President and the Directors submit herewith their report for the year ending December 31, 1895, of the financial
and physical condition of the proprietary and leased companies constituting the Southern Pacific lines.
I.—M ILEAGE.

Tiu- total miles of road of the properties which constitute the Southern Pacific lines, owned by them or leased, and the
water lint s operated by them, assigned to the divisions under which the earnings, expenses and traffic statisics are
herein reported, are as follows :
P a c ific
System
L ou s.

X an te o f C om p a n y —

Total main line o f proprietary and leased com panies................................................. 54,91129
Total second track "of proprietary and leased com panies............................................
53-44
prfetary and leased com pan ies...................................................... 1,040-71
Total sidings o f propr

L in e s
in
Texas.

A tla n tic
S ystem
L in es.

1,976-69
3 89
369-01

446-71
21 79
129-80

D u r in g the
T ear.
In c r ea s e.

Total.

7,334-69
79-12
1,539-52

11018
25-68
66-60

; Tliere is excluded from the m ileage o f the Southern Pacific Railroad o f California the 242-51 miles between M ojave, C a l, and the N eedles,
as said line is perpetually leased, and contract delivered for its sale to the A tlam io & Paciflo Railroad Company, that com pany paying, as
rental, an amount equal to the interest on the bonds which were issued on said line. This rental amounts to the annual sum o f $436,266, and
is treated as rent..
Railroad of California in the accounting betw een it and the Southern Paoiflo
Company, a.- the Interest p ud by the latter, as lessee, includes interest on all the outstanding bonds. In the report o f the Southern Paoiflo
R ailroad Company o f California tide mileage is included, as it is covered by its thirty-year six per cent bonds.

The increase of 135-86 miles consists in the following:
Southern Pacific Railroad o f California.—Extension of Coast Division, San Luis Obispo to Guadalupe, 24-90 miles ;
Shorb to Pasadena, 4-83 miles ; Guadalupe to Lake, 3-40 miles ; Bassett to Covina, 9-56 miles.
L o u isia n a W estern R a ilr o a d . —Southwardly from the main line from Midland to Gueydan, a distance of 11-18 miles.
Morgan’s Louisiana & Texas Railroad & Steam ship Co.—Extension of Cypremort Branch, -13 miles ; double tracks at
Gretna, '63 miles ; Olivier to Franklin. 20 41 miles ; near Bayou Sale, -75 miles. Total double track, 21-79 miles.
Iberia <fc Vermilion Railroad.—The Morgan’s Louisiana & Texas RR. & SS. Co. acquired the entire capital stock of this
company ($300,000), in consideration of its guarantee of the principal*and interest of $322,000 first mortgage 5 per cent
bonus due in 1943. This line of railroad extends from New Iberia to Abbeville, a distance of 16-13 miles, and is a valuable
feeder to the main line of the Morgan Company.
Texas & New Orleans Railroad.—Double track Houston to Englewood, 3'89 miles.
Fort Worth <t New Orleans Railway.—During the year the Company acquired the entire capital stock ($300,000) of the
Fort Worth A New Orleans Railway Co., running from Waxahachie to Fort Worth, Texas, 40'05 miles. The acquisition of
t hi- lmt gives t«i the public a desirable connection for Fort Worth over the lines of the Houston & Texas Central Railroad
Co., and secures to the latter company a desirable entrance into Fort Worth.
Tic m i l e a g e , o|>eration- and financial condition of the Houston & Texas Central Railroad Co.,'Austin & Northwestern
i -:il T< x is & Northwestern Railway Co., were, in the report for the year 1894, reported under “ Affil­
iated Line*.'’ The Southern Pacific. Company being the principal owner of the capital stock of these companies and of the
Fort Worth A New Orleans Railway Co., the operation of these lines, which are each operated by their own organization,
as required under the laws of the State of Texas, but over which trains are run so as to give to the public prompt and good
service between all points thereon, are, for the better information of those interested in the securities of these companies,
reported -. (oirately under the division of “ Houston & Texas Central Lines.”
There were operated an average of 7,299-38 miles for the year, an increase of 76-92 miles over last year.
I I .—INCOME FOR THE Y E A R 1895.

Th following statement shows the transportation earnings of the proprietary and leased railroad and steamship lines
and all other receipts, except from capital created. Also operating expenses, taxes, sinking-fund co Itribution, and all
other charges which are an obligation of the proprietary companies or of the Southern Pacific Company as lessee,
ertaining to operations in former years, and adjustment between the several interests in respect
Receipts and payments appertaining
to operations, "are shown separately"under profit and loss. Under “ proprietary companies” are shown the earnings over
operating expenses, taxes and fixed charges which inure to the Southern Pacific Company as the principal owner of the
stock of said* proprietary companies, and under “ leased lines” the profits or losses from the operation of the property leased
from the Oregon A California RR. Co., Central Pacific RR. Co. and California Pacific RR. Co. which may inure to or
become a charge against the income account of the Southern|Pacific Company.___________________________________

Mile* o f road. Including ferric*........................................................
R e c k ik t s .

P r o p r ie ta r y
Com pan ies.

L ea sed
L in es.

5,211*20

2,134*18

In co m e from tn restm ex its..............

In crea se.

571.947 09

82,329 33

17,214,589 01

538,489 36
339,532 90

y****®!? au;
££

13f*2§2 S?
6,798
................j

208,365 61

E x p e n d it u r e s .
_____
I
450,815 10
.. ................................................................................................................j
904,959 581
185,893 21
T rackage and other n
.......................................................
72 5 'X n 2 S I
241,605 13
Betterments and addition*................................................................
25,003 53
600,000
00
California Pacific rental..................................................................... „ _ . ■ v * * "!
Interest on bonded d ebt..................................................................... ‘
11 4,280,015 00
Interest on State o f T exas d ebt....................................................... | ,,7 ? '™ ! o i '
12,877 32
Interest o n open account*— .................................................. - - -- •| 24L,/ob - i
C. P. RR. earnings over operating expenses, taxes, rentals,;
*855,957
62
betterment* and additions, and interest on bonded debt.......
••••••■•••I
Sinking fund contribution and earnings........................................
22
General adm inistration expense*........... ....................................... I
SvVSn SS'
Premium on bond* purchased and can celed .................................
kS' kTV oo
1
T axes and expenses, land departm ent...........................................
Miscellaneous expen ses......................... •
.................................
n/io oZ2
!
•rollt under om nibus lease d o e 8. P. C o.................................
-0 8 ,3uo 61
Total expenditures........................................................................jl0 ,316 ,960 49

B

alan ce

.

• elicits leased lin es:—
„
Low* in operat’d o f Cal. Pacific charged to incom e o f 8. P. Co.
A dvance* to Orcg. A C a t RR. Co. for account o f operations.

6,627,163 38

.,192,765
398,606
328,375
107,886
134,087
6,798
208,365

78
85
30
22
23
35
61

,374,442
934,639
266,608
600,000
162,900 00 12 ,190,875
23,755
441,447
186,80410

72
50
66
00
11
67
63

855,957
372,886
37,633
39,926
53,544
6,168
208,365

62
22
45
83
22
77
61

18,668 04
15,000 00

,

75,000 00
3,756 00

50,282
34,568
231,466
30,025
27,678

91
79
27
35
32

88,746 91

165,578 95
42,504 67
143,672 65
113,343 15
172,324 80
30,025 35
0,432 67

191,365 99

790,811 23

249,455 52

219,858 52

213,401 50
7,144 56

88,746 91

2,185,222 34

219,858 52

859 93

4,358 70
20,873 69
518,990 77

616,783 77

2,508 79

710,356 76

462,128 14 17,406,252 01

2,579,108 82
............... j 1,010,669 75

790,811 23

250,097 00

7,475 96

Total receipts ............................................................................... 12,890,068 81 j 5.616,493 63 1,078,91191 19,591,474 35

S u r p l u s .............................................................................................
D e n e lt ..,......... .....................................................................................

D ecrea se.

94*05

7,345*38

34,234 21 50,457,024 51 1,485,618 50
41,710 17 33,242,435 50 1,235,521 50

3 9o

Interest on open account*............................
Interest on ^Inking fund Investment*............................................
Land sales and leases..........................................................................
M iscellaneous receipt*........................................................................
Net profit from operation* under omnibus lease.......................... |

Total.

$

$

Earning* oyer operating expenses.................................................. 11,687,000 67j 5,534,164 30
Earnings under operating expense*................................................
................
............
O t h e r I ncome .
Trackage and other rentals...............................................................

D u r in g the y e a r 1895

S outhern
P a cific Co.

440,821 51 i
2,579,108 32
Net incom e from operations.
- A pplicable toward the paym ent o f United States requirem ent under Thurman A ct, $648,300 03, and company sinking fund requirements
$235,000. total, $883,300 03.
396,925 25 i 2,976,033 57

THE CHRONICLE.

1090

[Vol. L x n .

The expenditures for betterments and additions have been as follows:
C harged to—
Incom e o f S. P. Co. from operations as above—Proprietary lin e s..........
Leased lines.

A ccount of proprietary companies
A ccount o f leased lines.....................

1895.
$25,003 53
. 4 ,2 5 1 4 4
---------------------- $29,254 97
.................. 1,777,047 49
....................
271,611 33

In c. o v er 1894.

$2,077,913 79

$852,542 51

Total

$18,105 67
707,645 98
126,790 86

Taking into the calculations of the year’s operations the expenditures for betterments and additions, which are a
charge to the capital accounts of the respective companies, there remains, after the payment of expenses of every charac­
ter, including $372,886 22 contribution to sinking fund, a surplus of $1,198,986 08, against $1,213,962 66 in 1894, in the sum
inuring to the Southern Pacific Company as the principal owner of the stock of the proprietary companies, and such other
prolits° as have inured to the Southern Pacific Company from the operations of the leased lines, or Losses incurred in said
operations which became a charge to its income account. The leased lines show a deficit to be borne by them, including
expenditures for betterments and additions, amounting to $1,062,422 56.
The deficit in the transportation operations of the leased lines increased $413,453 85. The transfer steamer S olan o was
out of service from February 28th to J une 14th. This reduced the earnings of the California Pacific Railroad and increased
the losses in operating that line $164,008 33 over 1894. The operations of the Oregon & California Railroad for the year
1894 in c lu d e d $150,000 00 cash and stock received from Wells, Fargo & Co. for express facilities. Eliminating this factor
in the comparison between 1894 and 1895, the current business for the year shows an increase of $46,263 48 ; the operating
expenses, however, increased $141,227 13, leaving a decrease in the current year’s transactions of $99,455 52. Adding to
this the $150,000 00 above referred to operated to increase, apparently, the deficiency in company’s earnings to $249,455 52,
The increase in transportation earnings and operating expenses is explained in sections VI. and V II. of this report.
The increase in trackage and other rentals results entirely from rentals received by the Central Pacific Railroad Company
from other lines of the Pacific System for use of its shop facilities at Sacramento. The increase in other items of income
is explained by their title.
In expenditures taxes increased mainly from an increase in the charges to the Central Pacific Railroad Company and
the taxes on the Fort Worth & New Orleans Railway acquired during the year. The increase in trackage and other
rentals is mainly for the use of shops at Sacramento. Of the increase in interest on bonded debt, $6,625 00 is for account of
Oregon & California Railroad, $17,606 76 for account of the Southern Pacific Railroad of California, $38,301 39 for account
of the Morgan’s Louisiana & Texas Railroad ; and for interest on bonded debt of roads acquired during the year : Iberia &
Vermilion Railroad, $16,100 00, and Fort Worth & New Orleans Railway, $42,540 00. There was a decrease of $3,510 00 in
interest on bonded debt of the Houston & Texas Central Railroad and $4,320 00 in that of the Southern Pacific Company,
leaving a net increase in interest on bonded debt of $113,343 15. The increase in other items is explained by their title.
The advances under the company's guaranty of the interest on the bonds of the San Antonio & Aransas Pass Railway
Company for the year 1895 amounted to $210,906 62, and has been charged to the account with said company.
The following statement shows annually, beginning with the year 1885, the general operations and net results derived
from the operation of the proprietary companies and leased lines, the net proceeds of which have either accrued directly
to the Southern Pacific Company or to the several proprietary companies, and are represented in the increased assets of the
respective companies:
Y ear.

1 8 9 5 .............
1 8 9 4 .............
1 89 3 .............
1 8 9 2 .............
1 8 9 1 .............
1 8 9 0 .............
1 8 i> 9 .............
1 88 8 .............
1 8 8 7 .............
1 886 .............
1 885 .............

T otal___

In com e o f S. P. Co.
E a r n in g s o f
L oss i n O peration
P ro p r ie ta r y Com­ oth er than fr o m
O p era tion o f
o f L ea sed L in e s .
p a n ies o v er O per­
a tin g E x p ’ ses a nd P ro p r ie ta r y o r
L ea sed L in es.
F ixed ch a rg e s .
$ 2 ,5 7 9 ,1 0 8
1 ,8 2 4,00 3
3 ,0 3 6 ,5 3 1
3 ,5 1 3 ,8 9 3
3 .7 5 7 ,4 6 8
3 ,1 0 2 ,3 7 1
1,7 3 5,03 1
1 ,6 6 2 .2 6 8
1 ,3 3 2 ,6 9 7
3 6 5 ,2 8 2
• 1,985,252

$ 6 1 6 ,7 8 3
3 7 1 ,0 3 1
3 1 1 ,4 3 9
2 1 1 .9 3 2
1 0 9 ,9 5 9
4 ,1 6 0
1 ,8 3 3
3 8 4 ,2 0 5
4 4 4 ,1 2 4
4 6 5 ,3 0 1
1 0 0 ,1 1 6

32
46
43
57
44
26
72
38
58
87
82

$ 2 4 ,8 9 3 ,9 0 9 85

77
40
53
66
17
00
78
93
54
43
33

*3 .0 2 0 ,8 8 8 5 4

$ 2 1 9 ,8 5 8
5 5 ,8 5 0
5 9 7 ,5 0 8
4 6 2 ,3 6 4
Cr.
9 5 ,6 3 8
4 6 5 ,2 2 8
5 3 0 ,8 7 1
4 0 8 ,1 1 9
1 2 1 ,6 4 7
3 9 ,9 3 2
Cr.
Cr.
5 4 ,7 0 0

52
19
14
34
79
17
46
88
23
76
50

$ 2 ,6 7 1 ,1 7 5 88

S u rp lu s a fter
P a y m en t o f a ll
F ix ed C harges.

E x p en d itu res fo r
B etterm en ts a n d
A d d itio n s.

B a la n c e r e m a in in g a fte r P a y m e n t
f o r B etterm en ts a n d A d d itio n s.
Su r p l u s.

$ 2 ,9 7 6 ,0 3 3
2 ,1 3 9 ,1 8 4
2 ,7 5 0 ,4 6 2
3 ,2 6 3 ,4 6 1
3 ,9 6 3 ,0 6 6
2 ,6 4 1 ,3 0 3
1 ,2 0 5 ,9 9 4
1 ,6 3 8 ,3 5 4
1 ,6 5 5 ,1 7 4
8 7 0 ,5 1 7
2 ,1 4 0 ,0 6 9

57
67
82
89
40
09
04
43
89
06
65

$ 2 5 ,2 4 3 ,6 2 2 51

$ 1 ,7 7 7 ,0 4 7
9 2 5 ,2 2 2
1 ,2 0 6 ,9 3 1
2 ,2 4 6 ,0 9 4
1 ,8 6 8 ,2 6 3
1 ,3 5 4 ,8 6 4
1 ,6 7 5 ,8 7 8
2 ,2 0 2 ,8 2 8
9 7 8 ,0 1 4
4 0 3 ,5 6 0
4 4 4 ,2 0 4

49
01
70
32
67
06
19
58
31
78
62

$ 1 5 ,0 8 2 ,9 0 9 73

$ 1 ,1 9 8 ,9 8 6
1 ,2 1 3 ,9 6 2
1 ,5 4 3 ,5 3 1
1 ,0 1 7 ,3 6 7
2 ,0 9 4 ,8 0 2
1 ,2 8 6 ,4 3 9

D e f ic it .
08
66
12
57
73
03
$ 4 6 9 ,8 8 4 15
5 6 4 ,4 7 4 15

6 7 7 ,1 6 0 58
4 6 6 ,9 5 6 28
1 ,6 9 5 .8 6 5 03
$ 1 0 ,1 6 0 ,7 1 2 78

The year 1895 includes the operations of the Houston & Texas Central lines, 622*89 miles; also deductions for sinkingfund contribution amounting to $372,886*22. Prior to the year 1895 sinking-fund contributions were not deducted.
I I I .—P R O FIT A N D LOSS,

The following statement shows the net income from operation and all adjustments between the proprietary companies
and the Southern Pacific Company in respect to the results from the operation of proprietary lines leased to the Southern
Pacific Company; also all other transactions and adjustments during the year which are a credit to or charge against the
profit and loss of the respective companies.
c r e d it

:

P r o p r ie ta r y
C om panies.

S o u th ern P a c ific
C om p a n y.

Total.

Balance Dec. 3 1 ,1 8 9 4 , Pacific System, Lines in Texas & Atl. System. ..$29,601,195 19
Balance Deo. 31, 1894, H ouston & T exas Central Lines............................. 2,723,071 80
Incom e from operations for tlie year 1895...................................................................................
Adjustm ent of advances fo r taxes and expenditures fo r acc’nt o f F. P. Olcott, Trustee.
Iberia & Vermilion Railroad capital stock ($298,500 face v alu e).........................................
Adjustments in laud accounts T exas <te New Orleans R ailroad C o.......................................
Adjustments in land accounts Gulf W estern Texas &, Pacific R ailway C o........................
Collection o f old accounts........................ .....................................................................................
Sinking-fund contribution and sinking-fund earnings..............; .............................................
Loss iu operation o f lines o f proprietary com panies chargeable to incom e o f Southern
Pacific C om p an y:
South Pacific Coast R ailw ay .......................................................................... $207,854 03
Northern California R ailw ay.........................................................................
34,087 45

$32,324,266
2,579,108
92,736
29,850
12,086
3,913
8,4t.5
297,886

99
32
74
00
21
00
22
22

$6,154,344 92
396,925 25

249 75
75,000 00

241,941 48
Total.

$35,590,254 18

$38,478,611
2,976,033
92,736
29,850
12,086
3,913
8,714
372,886

91
57
74
00
21
00
97
22

241,941 48
$6,626,519 92

$42,216,774 10

$241,941 48

$241,941 48
266 76
6,040 93
6,192 95
3,643 11
12,076 41

D E B IT .

Loss in operations o f lines o f proprietary com panies chargeable to incom e o f Southern
Pacific Company:
South Pacific Coast R ailw ay.......................................................................... $207,854 03
Northern California R ailw ay.........................................................................
34,087 45
Adjustment in accounts o f Iberia & Verm ilion Railroad C o...................................... ......
Adjustment in accounts or Fort Worth & New Orleans Railw ay C o....................................
Loss ic operat ion o f hospitals, Lines in T e x a s.............................1..........................................
Loss in operation o f Del Rio W ater W orks. ':........................................................
Old accounts charged o ff......................................................................................
Taxes paid by Southern Pacific Company chargeable to operations for the years 1886
and L887................................................................. ..................................................... ...
Readjustment iu values o f floating equ ipm ent.................................................! . . . . I . ! ! ! . . . . .
Readjustment in values o f securities ow n ed ................................................... ] *
Land contracts Southern Pacific Railroad o f California surrendered............. . . . . . I . ! . .*..
T otal........................................

$266
6 ,0 4 0
6 ,1 9 2
3 ,6 4 3
7 ,8 4 1

76
93
95
11
54

183,728 81

4,234 87
77,256 23
64,400 00
63,000 00

77,256
64,400
63,000
183,728

23
t0
00
81

$207,714 10

$ 4 5 0 ,8 3 2 58

$ 6 5 8 ,5 4 6 6 8

Balance to credit December 31, l-u

$35,382,540 08

$6,175,687 34

$41,558,227 42

Increase for the year...........................

$3,058,273 09

$ 2 1 ,3 4 2 42

$3,079,615 51

THE CHRONICLE.

Jcjje 13 1896.J

1091

I V —A S S E T S A N D L I A B I L I T I E S .

The assets and liabilities of the proprietary companies and of the Southern Pacific Company on December 31, 1895,"
were as follows:
P ro p r ie ta r y
C om panies.
D ec. 31, 1895.

A.SSETS.

Cost o f road and franchises.......................................

$336,931,73111

Betterments and additions since March 1 , 1S85.

15,533,879 85

Steamships.................................................
Total.,

$352,465,610 96

Southern P a cific
C om p a n y.
Dec. 31, 1895.

Total.
D ec. 31, 1895.

+ In c r ea s e o r
—D ecrea se
D u rin g Y e a r ’ 95.

$3,071,318 29

$336,931,73111
3,071,318 29
15,533,879 85

037 717 IQ
9,676 11
1,777,047 49

$3,071,318 29

$355,536,929 25

-f $7,824,440 79

$119,787,537 33
679.830 16
932,432 67

$119,787,537 33
679,830 16
932,432 67

+

$121,399,800 16

$121,399,800 16

+

$63,900 00

$1,935,000 00

$1,925,000 00

+

$96,250 00

-

40,500 00

S e c u r it ie s .

Stock in proprietary companies, as per Table No. 27 o f pam j
Stock in leased lines, as per Table No. 27 o f pam phlet.......... .
Stock In other com panies, as per Table No. 28 o f pam ph let..
T otal.
C urrent

asse ts.

..........................

Southern Pacific Railroad Company o f California,
first m ortgage 5 per cent bonds, face v a lu e .........
G u lf Western T exas & Pacific Railway, first rnortO w g on A California Railroad, first m ortgage 5
per cent bonds, face value.........................................
Texas Transportation Co., first m ortgage 5 per
cent bonds, face valu e...............................................
H ouston A Texas Central RR., general 4 per cent
bonds, face value..........................................................
Houston & T exas Central RR., debenture 6 per
cent bonds, face value................................................
F ort Worth A N. O. RR., first m ortgage 6 p e rc e n t
bonds, face valu e........................................................
Houston, Texas, city bends, face value.....................
S tock Citizens' Rank o f Louisiana, face valu e........

....................

97,000 00

483,300 00

483,300 00

..............

1,334,178 38

1,334,178 38

..............

72,750 00

72,750 00

350.000 00

$350,000 00

570.000 00

370,500 00

28,000 00

26,825 00

C a s h ..............................................................................................

Agents and con d u ctors...................................................
Bills receivable...................................................................
Pacific Im provem ent C om pany...................................
Individuals and com pan ies............................................
U. 8. transportation..........................................................
Material, fuel and other supplies...................................
Construction advances for leased lines......................
Construction advances for other com panies..............
Traffic balances..................................................................
Total.

6,000
36,000
806,810
137,112
97,905
165,472
408,007
76,389
1,095,197

00
00
81'
01
42
66
99
62
29

26,825 00
648,000 00
3,658,265 57
712,608 33
132,314 89
18,998 92
1,746,232 20

648,000
6,000
36,000
4,465,076
849,720
230,220
165,472
408,007
95,388
2,841,429

00
00
00
38
34
31
66
i*9
54
49

OosrrnruEXT A ssets .
G. H. A 8. A. R y.. M. P. extension income bonds,
fa ce value.......................................................................$1,110,000 00
S tock in proprietary com panies, face value............ 1,718,300 00
Individuals and com pan ies...................... ....................................
Construction advances to proprietary com pan ies.................
Houston Sc Texas Central Railroad, reorganization..............
Boathern Pacific « 'om pany............... ........................................
I n ad) u* t«*d accounts.....................................................................
Due from l«*a«cd line*........
..............................................
Han Antonio A Aransas Pass Railway Com pany....................
Southern developm ent C om pany...............................................

+

26,825 00
648,000 00

—
—
—

51,754
266.206
50,313
99,965
225,842
3,967
755,321
27,354
369,437
28,791

+
+

382,335 09
173,758 37

382,335 09
177,257 00

$3,579,719 43

$11,287,741 75

$14,8b7,461 18

-

$600,968
2,919,011
2,174,028
282,705
3,272,820
11,189
2,506,579
77,067
97,8*6
2,233.978

__
+

$2,174,028
282.705
3,272,820
11,189
2,506,579
30,899

86
82
79
98
69
66

$600,968 67
2,919,011 68

'46,167 50
97,886 11
2,233,978 04

67
68
86
82
79
98
69
16
11
04

................

$736,297 96
104,006 87
2,065,450 20
34,286 53
603,176 98

831,750 00
70,000 00

+

3.498 63

$8 ,274 224 80

T otal.

_

370,500 00

D e f e r r e d A ss e t s .

Steamships, tugs aud barges..................................
Real estate anti other p rop erty..............................
State o f T e ta s subsidy lands (1.592,226 acres).
Other lands in State o f T exas (111,317 a c r e s)...
Land notes and contracts........................................
Other p ro o e rty ...........................................................
Sinking funds..............................................................
Individuals and com p an ies.....................................
Due by leased lines....................................................
U. S. transportation - Pacific .System....................
Unadjusted accounts.................................................

_

$63,900 00

$5,898,012 00

$14,176,236 80

$277,500 00

$277,500 00
736,297 96
131,814 36

27,807 49
2,918,530 75
234,586 17
1,687,394 15
665,558 43

2.918,530 75
2,065,450 20
268,772 70
1,687,394 15
665,558 43
603,176 98

+

66
91
53
11
19
91
70
65
13
90

$651,706 01

4+
__

$64,400
35,864
16,103
12,736
290,196
1,232
170,613
77,067
97,886
59,730
6,797

-

$44,291 47

+
—

—
—
_
+
+
+
+

00
40
04
32
69
10
84
16
11
43
04

$8,950
74,943
320,051
165,199
833,819
268,772
1,031,813
151,534

00
36
89
85
23
70
91
27

Total .......................... .........................................................................

$3,543,218 54

$5,811,276 99

$9,354,495 53

+ $2,0 47,194 71

Total a s s e t s ....................................................................................

$367,866,773 73

$147,468,149 19

$515,334,922 92

+ $9,239,538 02

P ro p rieta ry
C om p a n ies
D ec. 31, 1895.

Southern P a cific Co.
D ec. 31, 1895.

Total.
Dec. 31, 1895.

L IA B IL IT IES .

M ortgage bond* bearing 4 per cent interest..............................
M ortgage bond-* bearing 5 per cent interest..............................
M ortgage bonds bearing 6 |**r cent interest..............................
:- ’
. 7 jH-r cent interest..............................
M ortgage bonds bearing 8 per cent Interest.............................. .
bonds bearing 4 per cent interest............................
Debenture bond* bearing 6 per cent interest.............................
Debenture bonds bearing 7 per cent Interest............................
S. P. Company 6 per cent steamship bon ds...... ......................... .
Total fixed interest-bearing bon ds........................................
State o f T exas school d ebt...............................................................
Incom e m ortgage bonds..................................................................
Capital sto ck .....................................................................................
Capital stock Louisiana A T exas Transportation Companies

$11,254.500
52.390.000
69.051.000
7,620,000
2,716
411,000
705,420
13,000

00
00
00
00
08
00
00
00

$141,447,636 08
$389,998
6,354,000
180,464,952
433,506

99
00
00
75

$2,715,000 00
$2,715,000 00

$120,995,070 00

$11,254,500
52.390.000
69.051.000
7.620.000
2,716
411,000
705,420
13,000
2.715.000

00
00
00
00
08
00
00
00
00

$144,162,636 08
$389,998
6,354,000
301,460,022
433,506

99
00
00
75

-{-Increase o r

—D ecrea se D u r ­
in g Y ear 1895.
—

$ 2,000

00

+ 2,965,000 00
4418,000 00

—

72,000 00

----------!------ 4
-{- $3,309,000 00
—

$7,918 55

4 2,264,100 00

$187,642,457 74

$120,995,070 00

$308,637,527 74

; $2,256,181 45

Total Bonded debt and capital stock .............................. .
C u r r e n t L i a b i l it i e s .
Loan* mid bills payable....................................................
Voucher-* and pay-rolls......................................................
Pacific Im provement Company.........................................
Individual* and com panies................................................
Coupon* due but not presented........................................
Dividend* unclaim ed.........................................................
Coupons due January 1 ,1 8 9 6 ..........................................
Interest on bond* to December 31, 1895, but not due.

$329,090,093 82

$123,710,070 00

$452,800,163 82

+$5,565,181 45

61,017 17

$3,191,682 4 9
3,521,637 94
1,195,358 66
1,176,565 02
75,576 10

88,191,682 49
4,495,798 30
1,195,358 66
1,176,565 02
136,593 27

234,410 00
483,134 17

2,486,905 00
824,287 16

2.721,315 00
1,307,421 33

T ota l..................................................................................
D e f e r r e d L i a b il it ie s .
Leased lin e s........................................... .............................
Individual* and com panies................................................
Taxes unpaid
...................................................................
T axes in litigation...............................................................
Sinking fund* uninvested..................................................
Unadjusted accoun ts...........................................................
Wells, Fargo A Company co n tra ct...................................

$1,752,721 70

$12,172,012 37

$14,224,734 07

+$1,109,399 62

$226,233
158,175
405,786
120,414
608,000

93
82
02
73
00

— $867,991 03
—
362,276 53
+
35,179 92
—
201,920 f>9
—
199,407 83
+
120,414 73
—
32,000 00

T ota l.................................................................................

$475,371 51

$1,518,610 50

-$ 1 ,5 0 8 ,0 0 1 33

T o ta l...............................................................................................

$974,160 36

$4,246 73
405,786 02
65,338 76

$221,987 20
158,175 82
55,075 97
608,000 00
$1,043,238 99

$1,009,331
—
236,873
+ 1,195,358
+ 1,176,565
5,810
—
103
—
31,855
+
9,829

07
65
66
02
00
50
00
16

THE CHRONICLE.

1092

ASSETS AND

;[Vol.

lxu.

L IA B IL IT IE S.— (C o n c l u d e d .)
P r o p r ie ta r y
C om panies.
D ec. 31 ,189 5.

L IA B IL IT IE S .

S ou th ern P a c ific Co
D ec. 31, 1895.

C o n t in g e n t L i a b i l i t i e s .

Steamship and m arine insurance fund.................................................

$1,287,736 39
276,256 64

$70,468 09
270,010 00
179,652 20

Proprietary com panies.............................................................................
Wells, FarffO & Company con tra ct........................................................
Southern Developm ent Com pany..........................................................

1,964,947 46
538,200 00

639,415 73
$1,166,040 62

Total
D ec. 31 ,189 5.

H-In c r ea s e o r
—D ecrea se D u r ­
in g y e a r 1895.

$1,287,736
346,725
276,510
2,144,599
538,200
639,415

+ $172,107 09
—
355,417 90
+
263,684 71
+
912,968 87

39
33
00
66
00
73

$5,233,187 11

$4,067,140 49

+

$993,342 77

Assets in excess o f liabilities..................................................................

$332,484,233 65
35,382,540 08

$141,292,461 85
0,175,687 34

$473,776,695 50
41,558,227 42

-+-$6,159,922 51
+ 3,079,615 51

T otal........................................ .. ............................................................

$307,860,773 73

$147,468,149 19

$515,334,922 92

! $9,239,538 02

The assets and liabilities have been classified so as to place their character understandingly before those interested in
them. Under “ Current ” have been classed the liabilities which are in current process of adjustment and the assets
available for their payment; under “ Deferred ” such liabilities as are payable at some future day, either near or remote,
and the assets available therefor ; and under “ Contingent ” the amounts involved in the general accounting between the
Southern Pacific Company and the proprietary companies ; also accounts the payment or collection of which is contingent
upon future adjustments and conditions, and such other accounts as the companies may on their books have opened with
themselves for convenience in accounting in respect to certain funds.
V .—P K O P E IE T A R Y

COMPANIES.

The earnings of the companies the capital stock of which is principally owned by the Southern Pacific Company, and
of which the net profits inure to the Southern Pacific Company as the principal owner of said capital stock, and for which
the stock of the Southern Pacific Company is outstanding, have been as follows :
This Y ear.

L a s t Y ear.

In c r ea s e.

Mileage (owned—rail, 5,175*36; ferries, 5*00; leased—rail, 30*84)—

*5,211*20

5*117*15

94*05

Passenger earnings..........................................................................................
M ail......................................................................................................................
E xpress...............................................................................................................
B aggage..............................................................................................................
Sleeping ca r...............................................................- ......................................
Freight................................................................................................................
Car m ileage........................................................................................................
L ocom otive m ileage.........................................................................................
Telegraph...........................................................................................................
Sundry.................................................................................................................
R en tal................................................................................. ...............................

$7,189,711
670,681
494,211
85,965
354,198
22.335,144
390,812
53,713
55,132
379,857
84,754

98
84
70
60
06
94
05
91
56
21
34

$154,921
61,363
52,885
7.424
133
1,302,362
227,273

74
17
41
92
36
48
53

T otal.............................................................................................................
Steamships.........................................................................................................

$32,094,182 89
2,691,490 25

$30,221,395 19
2,748,070 91

$1,872,787 70

Total transportation earnings................................................................
Trackage and other rentals.......... : - - ............................................................
Incom e from investm ents..............................................................................
Balance of interest on open accounts.........................................................
M iscellaneous receipts....................................................... .......................... .
Interest on sinking fund investm ents........................................................
Proceeds from sale o f lan ds..........................................................................

$34,785,673
571,947
59,073
86,609
6,798
107,886
134,087

$32,969,466
547,761
34,510
50,571
9,307
77,860
106,408

$1,816,207
24,185
24,563
36,037

Total receipts.............................................................................................

14
09
95
09
35
22
23

10
87
24
17
14
87
91

$1,165 3 0

259 65
62,858 31
4,470 38

04
22
71
92

$56,580 66

GO

$7,034,789
609,317
441,325
78.540
354,065
21,032.781
163;539
54,878
54,872
316,999
80,284

to
Cit
o

72
01
11
52
42
42
63
61
21
52
72

D ecrea se.

30,025 35
27,678 32

$35,752,075 07

$33,795,886 30

$1,956,188 77

$23,097,772
904,959
733,746
25,003
7,747,960
23,755
297,886
37,633
36,170
53,544
6,168

$21,986,183
782.962
696,108
10,204
7,636,921
24,615
267,860
44.77S
26,944
57,902
27,042

$1,111,589
121.996
37,637
14,798
111,038

E x p e n d it u r e s .

Operating expen ses......................................................................
T axes................................................................................................
Trackage and other rentals................................ ........................
Betterments and additions.........................................................
Interest on bonded d e b t..............................................................
Interest on State o f T exas debt.................................................
Sinking fund contribution and earnings..................................
General expenses o f adm inistration.........................................
Premium on bonds purchased and canceled...........................
Taxes and expenses Land D epartm ent.................................
M iscellaneous expen ses..............................................................

47
58
29
53
11
67
22
45
83
22
77

33
66
94
76
96
60
87
01
16
92
46

14
92
35
77
15

30,025 35
9,226 67

Total expenditures................................................................ .

$3 2,96 4,60 114

$31,561,525 67

$1,403,075 47

Surplus..................................................................................... .
Net profits due Southern Pacific Co. under om nibus lease

$2,787,473 93
208,365 16

$2,234,360 63
119,018 70

$553,113 30
88,740 91

B alance.................................................................................... .

$2,579,108 32

$2,114,741 93

$464,366 39

Betterments and additions charged to capital accou n t___

$1,777,047 49

$1,069,401 51

$707,645 98

$859 93
7,144 56
4,358 70
20.S73 69

* E xcluding 242*51 m iles leased to A tlantic & Pacific RR . Co.

For the purposes of comparison on substantially the same mileage, the operations of the Houston & Texas Central
lines, 622*89 miles, have been included in the statement for the year 1894.
The average earnings and expenses per mile of road owned have been :
Gross transportations earnings............................................................................................................
Other receipts......... .......................................................................................................

1895.
$6,728 64
186 93

1894.
$6,396 88
134 70

1893.
$6,845 71
141 55-

Total receip ts.................
Operating ex p e n se s..... ...................
Earnings over operating expenses
Taxes and all other fixed charges .
Earnings over all fixed charges___
Betterments and additions..............

$6,915 57
4,467 83
2,447 74
tl.9 0 8 52
539 22
343 74

$6,531 58
4,310 00
2.221 58
1,681 13
540 45
205 71

$6,987
4,480
2,506
1,683
823
269

26
92
34
06
28
S3,

t Includes sinking fund contributions and earnings o f sinking funds.

The expenditures for capital account, including the payments for the Fort Worth & New Orleans Railway and the
Iberia &^Vermilion ^Railroad, have been $8,142,234 14; the receipts have been $5,903,750 91 ; leaving an excess of expendilures of $2,238,483 23. The detail of these expenditures and receipts are shown in table No. 7 of the Controller’s report.
“xed interest-bearing debt outstanding December 31. 1895, including the indebtedness to the State .
of Texas school fund, amounts to..................................................... .... .......................................................... $141,837,635 07
I he annual interest charge thereon, the details of which are shown in table No. 9 in the Controller’s
report, is..
.................................................................... ........................................................................... $7,829,215 24
c* <vri
/ rom ^ie total outstanding bonded debt and debt due to the State of Texas December 31, 1895, the
Vii"1 • i?°nS ^2 the Mojave division of the Southern Pacific Railroad Company of California, perpetually leased to
IU ,
1? & Pacific Railroad Company for a rental equal to the interest on said bonds, also the mileage 242*51 miles so
leased, the fixed interest-bearing mortgage bonds and debt due to the State of Texas averages $25,976 31 per mile of road
on the remaining mileage and the annual interest thereon $1,427 11 per mile.
The property covered by the liabilities of these companies consists of :

THE CHRONICLE.

Jcnh 13, 1896,]

Miles o f main line and branches, exclu din g ferry.
Miles o f second t r a c k ,............ ...................................

Miles of sidings....... ..................................................

.................................................................................................... -....................

1093

Totals.
5,206-20
69-62
1,097-16

Pacific
System,
2,782-SO
43-94
598-35

Atlantic
Propei'ties.
1,800-51
25-68
369-01

6,372-98

3,425-09

2,195-20

752-69

723
17 7
512
124
7
19,344
294
9
3
4
7
........

364
93
338
gg
3
7,723
138
........
i
4
3
5

246
54
115
36
4
8,846
131
9
2

113
30
59

■Locomotives...............................................................................................................
Bagga-.-.e, mail and express ear.-*................................................
r
1 1 i-n
1 u * ................................. ................... ........
Pullman sleeping and tourist oara (% interest)...........................................................
Compamueiit an-i composite.....................................
Freight ears ot all kinds............................................................................ .....................
Boat! service of all kinds.................................................................................................
Ocean steamships...............................................................................................................
Car transfer steamers......................................................................................................
Passenger ferry steamers....................
Hirer steamers..................................................................................................................
Tugs and barges................................................... —........................................................

Houston & Texas
Central Lines.
622*89
129-80

2,775
25

4
45

The expenditures for betterments and additions on these properties have been :
Pacific System.
11 years.
$6,097,217 94
2,191 04

Total.
Total expenditures to December 3 1 ,189o.........................................................$15,533,879 85
Expenditures per mile of road............................................................................
2,983 71
T h e
t h e

n e t

r e s u lt s

S o u t h e r n

o f

P a c if ic

t h e

r a ilr o a d s

C o m

p a n y ,

a n d

h a v e

Tear.

t r a n s p o r t a t io n

b e e n

a s

f o llo w

c o n s t it u t in g

t h e

p r o p r ie t a r y

c o m p a n ie s ,

Gross Earnings
and
Other Receipts.

Earn ings over
Operat mg Expenses
and Fixed
Charges.

5,169-79
4,497-66
4,454-11
4,358*79
4,255*31
4,10294
4,039-95
3,907-59
3,597-18
3,44003
3,300 51

$35,752,075 07
29,376,823 24
31,122,022 78
31,264,280 91
30.048,537 45
f29,116.235 31
127,490,142 83
*27,977,264 44
*22,553,593 02
*1-,925,943 90
(18,161,7 85 85

*$•2,787,473 93
1,824,003 46
3,036,531 43
3,513,893 57
3,757,46, f 44
3,102.371 26
1,735.031 72
1,662,268 38
1,332,697 58
365,382 87
1,985,252 82

$1,777,047 49
925,222 01
1,206,931 70
2,246,094 32
1,868,263 67
1,354,864 06
1,675,878 19
2,205,828 58
978,014 31
403,560 78
444,204 62

$302,588,703 80

$2-5,102,275 46

$15,082,909 73

1888 . . . . . . . . . . . . . ..... ........................
1 — 7 ........................................................
1985.........................................................
T otal,..................................................

f r o m

t h e

o p e r a t io n s

o f

s :

Aceraae
Miles o f
Road
Operated.

1 8 9 3 ......................................................
1894..........................................................
5893................ ........................................
1492.........................................................
1.591..........................................................
1890.........................................................

. .

lin e s

Atlantic Prop- Rous. <8Tex. Cent•
erhes, 11 years. Lines, 3 years,
$8,631,545 44
$805,116 47
4,793 94
1,292 55

utrlbntion included in Axed charges.

Betterments
and
Additions.

Surplus.

Deficit.

$1,010,426 44
898,781 45
1,839,599 73
1,267,799 25
1,889,204 77
1,747,507 20
59,153 53

$540,560 20

354,683 27

38,277 91

1 ,5 4 0 4 8 20
$10,019,365 73 J

f Gross transportation earnings only.

VI.—TRANSPORTATION EARNINGS AND EXPENSES.
T h e

t r a im p o r t a t io n

c ip a lly

o w n e d

iz a t io n

o f

b y

t h e

t m p a n y
t h e

lin e s

e a s t

t h e y

a r e

t h e m

s e lv e s

S v .-t e m
P a c if ic
a t io n s

o f

1
w

E i

P a s o .
a s

a n d

of

w

h ic h

As
“

lin e s

in

'G t u j> a n v .

T h is

it h

y e a r s .

f o r

e r

&

C o m

s im

--A

“

o f

n ;.

w

a l l le a s e d

le a s e d

h a s
e n t

T e x a s

T e x a s

a s

t o

&

b e e n
o f

C o m

b e tw e e n
t o

t h e
f o r

t h e

h a s

p a n y

c o m p a n ie s

u n d e r

o p e r a t io n s

P a c if ic

f o r

N o r t h w e s t e r n

t h e

b e e n

a n d

“

C o m

C o m

o f

m

t h e

P o r t

W

c a p it a l
b y

it ,

p a n y
in

o r t h

h a v e

a n d

a n d

s in c e

o p e r a t e d
w

h ic h

t h e
o f

O r le a n s

h ic h

t h e

a n d

”

a s

o n e

t h e

R a ilr o a d s ,

Houston
<8 Texas Central
Lines.

4,923-54
$9,497,104 16
1, UO,098 13
579,714 26
110,13286
105,315 05
20,000,068 29802,822 74
98,817 02
103,180 00
132,049 93
125,898 94

1,800-51
$1,713,752 73
232,08131
139,220 18
25,052 30
93,33190
8,011,794 05
234,10810
6,441 80
799 28
261.035 6$
10,703 00

Increase ............................................. ............. .

$1,239,420 51

$517,776 53

Per cen t.............................................................

3-96

3-83

e a r n in g s

b e e n

a s

o f

t h e

f o llo w s

P a&»ESGEK3.
Earnings,
Local ;<n<! ferry...................................
Total................... ....................... .

,

by

A t la n t ic

o f

o p e r­

&

T e x a s

a n d

d e s ig ­

During £7it Year.

Total.

622-89

Increase.

Decrease.

7,346-94

92-83

$812,320 51 $12,023,177 40
89,973 49
1,468,755 26
63,564 14
782,498 58
15,129 83
156,914 98
3,618 25
502,265 20
31,408,620 15
2,706,1.59 81
73,960 50
610,981 34
7,257 73
112,516 55
10 93
103,990 21
52,925 59
446,911 20
12,301 43
148,903 39

$12,956 44
147,123 99
70,493 26
9,533 93

r a ilr o a d s ,

f e r r ie s

a n d

s t e a m s h ip s ,

40 35
94,338 02
891 81
$56,580 66

$1,485,618 50

$271,578 54
6-46
a n d

$37,030 20

1,240,439 64
188,934 07
5,018 21

$3,927,824 23 $50,457,024 51 $1,485,618 50
4,199,402 77 48,971,406 01

h a v e

o f

s y s t e m

S o u t h e r n

H o u s t o n

Total 1895....................—.............. ................... *32,507,199 67 $11,022,000 61
31,267,770 16 13,504,224 08
Total 189*......... ...............................................

p a s s e n g e r

“

o f t h e

$3,927,824 23 $47,765,534 26 $1,542,199 16
2,691,490 25

T h e

o r g a n ­

o p e r a t e d

$32,507,199 67 $11,330,510 36
.....................
2,691,490 25

S t e a m s h ip s ,

p r in ­

C e n t r a l L in e s .”

Milts of road.......................... .......... .......... ..........

Total railroad and ferries..............................
Steamship line*........ .......................................

t h e

c o m p a r is o n
t h e

is

S o u t h e r n

o p e r a t io n s

a r e

c o n s t it u t e

o p e r a t io n s
N e w

P a s o

P r o p e r t ie s

f a c ilit a t in g

&

o f w

t h a n

b e e n ,

E l

T e x a s

p a n y

s t o c k

o t h e r s

w e s t o f

A t la n t ic

p u r p o s e s
o f

to

lin e s

lin e s

T h e

a d e

t h e

o w n e d

le a s e s
o f

T h e

c o n v e n ie n c e ,

a ls o

is

P a c if ic

p a n y .

S o u t h e r n

Pacific System.

PaMonger earning*................................................
Mall earning*..........................................................
Bxpre** e a rn in g -................................................
B
'
■■. .................................................
Sleeping ear earning*.............................................
Fret trio earning*.....................................................
Car mileage earning*.............................................
Locomotive mileage earning*..............................
Telegraph earn ing*..............................................
Sundry earning*............................ .........................
Rental earnings.......................................................

t h e

c a p it a l s t o c k

S o u t h e r n

C o m

c o n t in u e d

r e s u lt s

o f

w h o s e

P a c if ic

d e s ig n a t e d ,

r e s u lt s

t h e r e t o

P a c if ic

S o u t h e r n

a r e

a r e

r e -s t a t c m

&

a r e

o f t h e

h ic h

C e n t r a l

H o u s t o n

r e s p e c t

c o m p a n ie s

S o u t h e r n

E l P a s o
"

of

ila r

t h e

in

a n d

1 8 8 .3 d i s t r i b u t e d

p a n y ,

r e -s t a t e m e n t
A

p a n y ,

in

S y s t e m

L o u is ia n a

s t a t is t ic s

b y

p a n y

lin e s w e s t

P a o it t c

N o r t h s

c o n v e n ie n c e ,

a ll
C o m

o p e r a t e d

C o m

P a c if ic

S o u t h e r n

f o r m

a rc*

t in -

a n d

P a c if ic

P a c if ic

t h e

t ic *

th <

1
n a t e d ,

S o u t h e r n

S o u t h e r n

k n o w n

"

b u t

o p e r a t io n s

3-03

p a s s e n g e r s

c a r r ie d ,

e x c e p t in g

t h o s e

c a r r ie d

o n

:

Pacific Syp/tem.

Atlantic
Properties.

$2,233,810 73
7.263,293 43

$590,655 31
1,123,097 42
37,739 03

$9,497,104 16 $1,751,491 76

A?#ragttTee«f2pt9 f e t passenger per
mil®. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cents

1-965 Cents

Houston &
Texas Central
Lines.
$220,440 31
593,883 51

Total.

+ Increase.

$3,044,906 35 — $191,817 19 + $67,928 44
8,979,574 36 + 131,029 11 — 13,068 49
3,273 32
37,739 03

$813,623 82 $12,062,219 74 — $60,788 08 +

2-253 Cents

Decrease.

Pacific System Atl. Properties H.<8 T. C. Lines

2-295 Cents

2-022 -I-Cents

$51,586 63

-071 —Cents

$18,864 19

-048 —Cents

-205

Pmmngers Carried.
Ttinmgh. . . . . . . . . . . . . . . . . . . .............
Local........... — ...................
Ferry-snbnrtran........... .....................

126,044
5,464.786
13,002,352

75,539
878,201
5,438

666.220

132,235

333,818 —„
7,009,207 +
13,007,790 +

37,936 +
4-11,085
102,277

8,161
56,165

T o t a l-................ ..........................

18,303,182

959,178

798,455

20,350,815 +

505,426 -

48,004 +

54,875

76,037,892

35,441,902

3,925,775 +

2,179,321

79-27

44-39

7-68 8"

5-41

Passengers carried one m ile ...........
A t e-rage mUfe® traveled h f
pmm&x&r. — ............................ —

483,179,75s'
f
25-99

594,659,547 — 21,093,481 +
29-22

1-88 +

THE CHRONICLE.

3 094

[Vol.

lxii .

Pacific, S ystem .—Earnings from through passengers decreased 7'19 per cent, number of passengers decreased 23’13 per
cent, and passengers carried'one mile 22-19 per cent. The absence of special attractions on the Pacific Coast, such as the
Midwinter Fair, etc., operated to reduce the earnings from through travel for the first six months of 1893 compared with
similar period for 1894. There was, however, an improvement in this class of travel in the second half of the year of
$135,010 93. Earnings from local passengers increased 1-92 per cent, passengers carried increased 8-78 per cent and
passenger miles 2-91 per cent. Earnings from ferry passengers increased $12,454 26, or 1'30 per cent, passengers carried -79
per cent and passenger miles 2-78 per cent. The average receipts per passenger per mile increased 3-68 per cent, the
receipts from through passengers increased 18-31 per cent, but those from local passengers decreased 1-18 per cent.
A tla n tic P ro p erties .—Earnings from through passengers increased 13-00 per cent, largely due to the number of excur­
sions to Texas and Louisiana and'the superior accommodations offered to the public by the Sunset Limited. Passengers
carried increased 12 -11 per cent, passenger miles 12 79 per cent. Earnings from local passengers decreased 1-15 percent,
passengers carried decreased 4-76 per cent and passenger miles increased -41 per cent. Earnings from passengers carried
on steamships decreased 7‘95 per cent, occurring entirely on the Havana line. The average receipts per passenger per mile
decreased 2-08 per cent.
H ou ston & T exas C en tral L in es. - In the absence of information in regard to through and local travel for the year 1894,
comparisons with 1895 cannot be made. The total earnings have decreased $18,864 19, or 2-38 per cent; number of passen­
gers carried increased 1-43 per cent, passengers carried one mile 6-42 per cent, and the average receipts per passenger per
mile decreased 7-61 per cent.
The freight earnings on the railroads, ferries and steamships, and tonnage carried, excepting tonnage carried on
steamships, have been as follows:
A tla n iic
P ro p erties.

H o u sto n <£
Texas C en tra l
L in es.

-f In crea se.
Total.

— D ecrea se.
A tla n tic
P ro p erties.

C om m ercia l F reigh t.

P a c ific System .

E a rn in g s —
Through...................................................
L o ca l.......................................................

$8,415,621 21
10,476,380 60

$5,626,090 66
2,763,809 49
2,653,751 22

$2,310,871 93
491,752 33

$16,352,583 80
13,731,942 42
2,653,751 22

+
+

$393,819 59
901,981 97

4- 448,368 11
— 282,182 11
— 53,307 34

T otal.................................................
Average receipts p er ton per m ile ...

$18,892,001 81
Cents 1*260

$11,043,651 37
Cents *912

$2,802,624 26
Cents 1*430

$32,738,277 44
Cents 1*150

+ $1,295,801 56
— Cents *056

+ $11 2,87 8 66
— Cents *036

Company’s freig h t..............................

$1,108,064 48

$221,893 90

$352 28

$1,330,310 66

Through...................................................
F oca l........................................................

1,224,390
4,141,679

1,754.297
1,036,076

872,533
222,277

3,851,229
5,400,032

T ota l.................................................

5,366,078

2,790,373

1,094,810

9,251,261

Through...................................................
L oca l........................................................

1,032,942,385
466,320,038

776,887,034
143,065,416

174,011,851
21,628,085

1,983,841,270
631,013,539

+
+

72,520,661
89,185,034

T ota l.................................................

1,499,262,423

195,639,936

2,614,854,809

j +

161,705,695

+ 52,795,841

M iles 178*70

Miles 282*65

M iles 3*69

+ Miles 3*08

Tons C a rried —

Ton K U es —

A verage length o f haul........................

M 'les 279*40

919,952,450
Miles 329*69

P a c ific System .

+
: +

-f

88,959
425,797

+
+

128,501
6,848

514,756

+

135,349

+ 48,175,729
+
4,620,112

Pacific System .— Earnings from through freight increased 4-91 per cent, tons carried 7'83 per cent and ton miles 7'5®
per cent. There was a large decrease in east-bound shipments of canned goods, green and deciduous fruits, sugar, tea and
wool, but the loss in earnings from this cause was about equalized by an increase in shipments of cattle from Nevada,
Utah, Arizona, New Mexico, and in beans, prunes and oranges. West-bound earnings increased 15-10 per cent, tonnage
15-58 per cent and ton miles 14-02 per cent, and was generally in all classes of traffic. Earnings from local freight in­
creased 9-42 per cent. A considerable part of this, however, resulted from the increase in length of haul, which was 11'00
per cent greater than in 1894. Tons carried increased 11-46 per cent and ton miles 23'65 per cent, but the average receipts
per ton per mile decreased 11-50 per cent. The average receipts per ton mile on all commercial freight decreased 4-25 per
cent.
The gross earnings of the Lines in Oregon show a decrease of $103,736 52 compared with 1894. Eliminating, however,
from the earnings for 1894 the $150,000 received from Wells, Fargo & Co. in cash and stock, under contract for express
facilities, there has been an improvement in the current year business of $46,263 48. Passenger earnings decreased
$12,687 46, earnings from mail, express and extra baggage increased $14,171 06, and freight earnings increased $59,483 81.
Local passenger earnings increased on the East Side $7,892 82, but the competition of rival steamship lines between San
Francisco and Puget Sound points decreased through travel $13,112 77. The effects of the general business depression and
suburban electric lines at Portland reduced the local travel on the West Side lines $7,675 46. The increase in freight earn­
ings has been altogether on the East Side lines; those on the West Side lines have decreased $15,771 16. Although the
traffic within the State shows a loss of $11,270 94, east-bound through traffic and local traffic to other States show an im­
provement, and there are indications that the turning point in the constant diminution in earnings, which dates to the
beginning of 1892, has been reached.
In Nevada, local shipments show a gain in vegetables, wool, ores and lumber, and a decrease in grain, hay, live stock,
borax, salt and stone. Through shipments show a gain of $1,715 64, but shipments within the State have decreased
$3,256 06 and to and from other States $33,964 45. The prices for cattle are, however, improving, and there are also indi­
cations of returning activity in mining, from which an improvement in the earnings may reasonably be expected. In
Utah, through shipments increased $5,591 16, local shipments to other States increased $8,835 89, but local shipments from
other States decreased $5,349 28. In Arizona, east-bound shipments increased $60,013 56 and west-bound shipments de­
creased $5,942 59. Local freight to other States increased $50,469 68, but freight into and within the Territory decreased
$29,104 16. In New Mexico, through freight increased $30,574 79, and local freight into the Territory decreased $7,362 05.
In the State of California the decrease in canned goods, deciduous fruits, horses, raisins, sugar, tea, wine and wool de­
creased east-bound shipments from Northern California $560,640 86, but the increase in beans, citrous fruits, honey and
beet sugar increased the east-bound shipments from Southern California $300,599 24. West-bound shipments to California
increased $465,781 29, principally to Northern California, and in commodities of all classes shipments to other States de­
creased $52,441 59 and from other States increased $101,498 48, principally in grain, lumber and wool. Shipments from
Northern California points to Southern California points increased $57,218 84, and from Southern California points to
Northern California points $57,332 77. Shipments between Southern California points increased $163,304 55, principally in
building material, oranges, sugar beets and sugar. The exports of wheat from San Francisco were 552,580 tons, valued at
$10.418,013,^as against 360,041 tons, valued at $6,648,095 in 1894. Compared with the wheat crop of 1893 there was an in­
crease of 8,787 tons in 1895, but a decrease in value of $2,307,400 ; prices have, however, been advancing.
A tla n tic P r o p er ties .—Earnings from through freight increased 8-66 per cent, tons carried 7-90 per cent and ton miles
v'61 per cent. East-bound tonnage increased 5'67 per cent, tonmiles decreased 1-62 per cent, and earnings increased only
'04 per cent. West-boun,d tonnage increased 9-71 per cent, ton miles 13-93 per cent, and earnings 15-23 per cent.
Although
the earnings from through freight have been the largest in the history of these companies by $448,368 10, exceeding that of
any previous year, they would have been still larger but for the short cotton crop in the State of Texas, which was but
about 62 per cent of that of the preceding year. Earnings from local freight decreased 9-26 per cent, tonnage increased
■ 60 per cent, ton miles 3-34 per cent, average receipts per ton mile decreased 12-19 per cent. The lines of this system in
the State of Texas are operated separately and independently of each other, and traffic passing from one line to the other
is classed as “ through1 traffic. Under this practice, traffic which would be classed as “ local” on
thelines
of the Pacific System has been classed
as “ through” on the lines of the Atlantic System; and this
has to some extent increased the “ through” tonnsge, and diminished the “ local” in like amount. The average
receipts per ton per mile decreased 3'80 percent. The earnings of steamphips decreased 1-97 per cent. The earnln"1s the Nev York line increased $184,781 11, due to an increase of 24 trips during the year between New York
and New Orleans. 1he Nicaragua line decreased $52,764 12, and was abandoned in September, 1895, the price of bananas
having fallen so low as to leave no profit in the trade. In 1894 a line was operated between New York and Cuba for the
transportation of sugar to United States ports. The conditions which caused this line to be temporarily established terminated m the year 1894; there was, therefore, no corresponding revenue in 1895. The cotton crop in the State of Texas was
est imated at only 2,059,000 bales, against 3,275,958 bales in the previous year, and although these lines carried proportion­
ately less cotton anil cotton-seed products, reducing the earnings from these commodities quite largely, the total freight
earnings were only $43,880 08 less than in the year 1892, which were the largest freight earnings in the history of these

THE CHRONICLE

J une 13, 1896.J
p r o p e r t ie s .
b e e n

3 6 -5 3

T h e
p e r

Houston

t o n

m

ile s ,

c e n t , t h e

'V

h o w e v e r ,

e a r n in g s

h a v e
I n

t h e

t h a t

o f

la r g e ly

18 9 3

b y

e x c e e d e d

a b s e n c e

o f d a t a

3 5 -3 8

p e r c e n t ,

t h o s e
in

f o r

a n d

b u t

f o r t h e

r e d u c t io n

in

r a t e s , w

h ic h

h a s

1 8 9 ,3 .

r e s p e c t

t o

t h r o u g h

a n d

lo c a l

t r a f f ic ,

c o m p a r is o n s

c a n

b e

only. T h e t o t a l f r e i g h t e a r n i n g s d e c r e a s e d 12-40 p e r c e n t , t o n n a g e i n c r e a s e d 7-35 p e r c e n t ,
t o n
miles 9
t h e average r e c e i p t s
p e r
t o n
m ile
d e c r e a s e d
8-31 p e r c e n t . T h e s h o r t a g e o f t h e c o t t o n c r o p r e movement of c o t t o n a n d c o t t o n s e e d p r o d u c t s 96,786 t o n s . T h e e x h a u s t i o n o f t h e s a n d s t o n e q u a r ­
r i e s at Ledbetter, which had furnished a large a m o u n t o f s t o n e
f o r t h e
je t t ie s o f
G a lv e s t o n , a n d t h e a b a n d o n m e n t o f t h e
paving tracts in Houston, decreased t h e t o n n a g e o f s t o n e , g r a n i t e a n d g r a v e l 55.256 t o n s . T h e r e w a s , h o w e v e r , a n i n c r e a s e
o f tonnage i n live stock, a g r i c u l t u r a l products, and i n n e a r l y a l l c l a s s e s
o f c o m m o d it ie s , w h ic h i n
t h e
a g g r e g a t e e x c e e d e d
the d c - c r e a s o o v e r the t o n n a g e a b o v e m e n t i o n e d . A s u p e r i o r s a n d s t o n e h a s b e e n f o u n d a t M i U i o a u , o n t h e l i n e o f t h e H . &
T . C. RR., and large s h i p m e n t s o f s a n d s t o n e have b e e n c o n t r a c t e d
fo r.
m a d e

w

it h

t<- t a l freight
7 0 per ce n t :

e x c e e d e d

w o u ld

Texas Central Lines —

1095

t r a f f ic

V I I .—O P E R A T IN G E X P E N S E S .
T h e

o p e r a t in g

e x p e n s e s

o f t h e

r a ilr o a d s , f e r r ie s

a n d

s t e a m s h ip s

h a v e

b e e n

a s

f o llo w

s :

Pacific
System.

Atlantic
Properties.

$5,120,050 74
3,481.682 50
10,680,787 31
2,007,393 39

$1,511,930 65
992,713 01
4,102,261 22
747,503 22
2,184,819 87

$494,773 24
298,037 72
1,375,254 42
245,22S 21

$7,126,754 63
4,772,433 23
16,158,302 95
3,000,124 82
2,184,819 87

T o t a l i s e ........... .................. ...................... ...........................
Total 1 8 9 4 ...................... ................ ............. ..........................

$21,289,913 94
20,027,078 58

$9,539,227 97
9,378,657 6*2

$2,413,293 59
2,601,177 80

$33,242,435 50
32,006,914 00

Increase........... ........... .............................................................. ...................

$1,262,835 30

$160,570 35

Per cent...................................... ..................................... .............................
■ ■ ' ' ' ...... ..1■i ;u;uu- i'XOcioio, nsil lines, 189.■.............................. L
*•
”
1894.................................

6-31
65*42
64*03

Maintenance of way and structures...........................................................
Maintenance of equipment..................... ....................................................
Conducting iransnortation...........................................................................
Steamships"..................................................................................... .............

T h e

s t e a m

s h ip s

h a v e

b e e n

o p e r a t e d

fo r

8 1 -1 8

p e r c e n t

o f

t h e ir

g r o s s

Houston & Texas
Central Lines.

$1,235,521 50

$187,884 21
7-22
61*44

T71
64*91
66*11
e a r n in g s , a g a in s t

Total.

8 2 -5 0

p e r

c e n t

in

8-86
65-02
18 9 4 .

M A IN T E N A N C E OF W A Y A N D S T R U C T U R E S.

Expenditures.
Atlantic
Properties.

Pacific System.

*

\

Houston dTcxas Central
Lines.

Average per Mile of Road.

Pacific System

21
22
52
24
76
02
76
01

$806,431 54
16,893 37
125,026 88
139,353 68
122,290 49
209,926 17
92,008 52

17,025 78

$480 81
22 83
80 45
164 29
80 93
122 48
39 38
37 57

Total........................................................ .
Total 1894............. .....................................

$5,120,050 74
4,664,880 60

$1,511,930 05
1,450,084 81

$494,773 24
675,962 74

$1.028 74
'945 16

Increase............................ ............. ...................

$-155,190 14

$01,845 84

Per cent ..................- ........................- .............

9-76

5-05

1.
2.
3.
4.
5.
6.
7.
s.

Repairs of roadway......... ..........................
Bridges and culverts...................................
Timber treadling...........................................
Cross-ties......................................................
Kails ami fastenings................................ .
Bttfldiug*, docks and wharves...................
Sm>w sheds and snow service.....................
All other expense*.......................................

$2,392,988
113,640
400,379
817.686
402,783
609,598
195,981
186,984

M A IN T E N A N C E

OF

3.

F 1o n tt» e

$441 65
9 25
71 20
79 48
66 96
115 22

$440 50
12 46
61 98
117 98
64 76
68 34

50 39

28 29

$834 15
849 58

$794 31
1.161 66

$15 43

$387 35

$83 58

$181,189 50
26-80

Pacific System.

Atlantic
Properties.

Houston cB
Texas Central
Lines.

$1,294,300 90
643,352 50
1,083,243 67
159,447 73
32,147 33
269,190 37

$360,634 37
90,389 15
399,938 08
48,703 50
9,611 85
83,436 06

$116,161 69
35,779 54
109,879 23
3,541 88
32,675 38

$1,771,096 96
769,52119
1,593,060 98
208,151 23
45,301 06
385,301 81

$3,481,082 50
2,924,186 30

$992,713 01
994,261 70

$298,037 72
375,474 48

$4,772,433 23
4,293,922 48

‘ $L548 69
•002

$77,436 76
20-624

1. Locomotive* ............................................................
2. Passenger equipment.............*.............................
3. Freight equipment................................................
4 .

Houston &
Texas Cent­
ral Lines.

E Q U IP M E N T .

Ri.rtlKS ov

t m i l p n i e n t .............................................................................................

Shop machinery-............................................

6.

$274,384 63
7,762 17
38,604 59
73.491 30
40,339 76
42,565 01

Atlantic
Properties.

Superintendence, clerks and all other expenses

Total........................ - .............................................

T o ta l 1 8 9 1 .........................................................................

$557,496 20

Increase.........................................................................
Decrease........................................................................
P e rce n t..... ............... ................................................

19*069

Total.

$478,510 75
11*144

C O N D U C T IN G T R A N S P O R T A T IO N .
F oa

t. Locomotive service......... ...........

2. Car serv ice.....................................
3. Train s e r v ic e ...............................
4. Casualties.......................................

5. Station service......... .................
8. Boat service...................... .........

7 . M ile a g e ............................................... .

8. All other expenses.....................

Total .................... ...................
Total M N .................................

Increase................ ...................
Decrease...................................
P ercent................. ............. .

Total.

Pacific System.

Atlantic Properties.

R. <e T. O. Lines.

$5,574,414 16
001,424 23
1,226,865 38
257,525 63
2,047,836 87
521,603 02
455,035 58
'.'ll,u— 44

$1,698,987 99
124,325 54
530,453 47
174,298 34
1,141,619 47
151,209 13
260,694 11
20,672 97

$539,834 26
47,584 11
167,146 79
75,011 77
393,584 89
135,962 93
16,129 67

$7,813,236 41
673,338 88
1,924,465 64
506,835 94
3,583,041 23
672,872 15
851,692 62
132,825 08

$10,680,787 3 L
10,415,542 67

$4,102,201 22
3,055,778 83

$1,375,254 42
1,391,621 33

$16,158,307 95
15,762,942 83

$265,244 64

$146,482 39

2-55

3-70

$395,365 12

$16,366-91
1-18

2*51

G E N ER A L EXPEN SES.

$123,444 12
162,071 38
20,062 41
170,616 56
49,453 94
34,659 73
31,561 24
77,184 16
52,954 29
25,495 39

$46,186 13
89,172 21
5,585 06
26,671 80
7,088 46
4,773 07
6,693 16
30,943 81
16,409 25
11,705 26

$496,768 97
827,934 19
74,841 08
455,345 50
176,211 73
57,733 32
186,968 04
387,639 29
163,281 01
173,401 69

Total ..................................... ..........................
Total 1894 .......................................................

$2,007,393 39
•2,022,489 01

$747,503 22
711,248 34

$245,228 21
241,465 42

$3,000,124 82
2,976,202 77

Increase...........................................................
Decrease ........................................................
Per rent........... ...................................... .........

$36,254 88

$3,762 79

$24,922 05

$15,095 62
*74

8. lega l service and expenses..............................
9. Stationery and print ing......................... .............
10. Incidentals, general.........................................

V T II.—G E N E R A L
A lt h o u g h
o v e m

m

Total.

A tlantic Properties.

$327,138 72
576,690 60
49,193 61
258,057 14
119,669 33
18,300 52
148,713 64
279,511 32
93,917 47
136,201 04

Salaries of officers...............................................
Salaries of clerk s................................................
General office expenses and supplies...............
Foreign offices......................................................
Advertising...... ...............................................—
Traffic, expenses ..............................................

7. Rents o f buildings and other p rop erty ..............

-m

H. <£*T. 0. Lin es.

Pacific System.

F or

1.
2.
3.
1.
•>.
U.

e n t

e a r n in g s

o f

t h e

f a ilu r e

o t h e r

o v e r

c o m

o f
m

o p e r a t in g

c e r t a in

o d it ie s .

s t a p le
T h e

e x p e n s e s

o f

c ro p s

r e d u c e d

r e s u lt s o f t h e
$ 2 5 0 ,0 9 7

00

t h e

g r o s s

e a r n in g s

y e a r ’s o p e r a t i o n s s h o w

a n d

in

e a r n in g s

*84

1*56

5*11

REM ARKS.

o v e r

a ll

o n

a g a in
f ix e d

c e r t a in

lin e s ,

o v e r 18 9 4 in
c h a r g e s

o f

t h e r e

w a s

a n

g r o s s e a r n in g s

a ll

lin e s

o f t h e

in c r e a s e
o f

m

$ 1 ,4 8 5 ,6 1 8

e n t ir e

s y s t e m

t h e
5 0
o

THE CHRONICLE.

1096

[VOL. L X II,

$19 1 ,80 5 9 9 , a lt h o u g h th e d e fic it in o p e r a tio n s o f th e le a se d lin e s , e s p e c ia lly t h e O r e g o n & C a lifo r n ia R R ., h a v e b e e n e x c e p ­
tio n a lly la r g e . T h e e x p e n d it u r e s fo r b e t t e r m e n t s a n d a d d itio n s e x c e e d e d c o n s id e r a b ly th e a v e r a g e r e q u i r e m e n t s ; b u t ,
f r o m p re se n t in d ic a tio n s th e e x p e n d it u r e s fo r 1896 w ill b e c o n s id e r a b ly le s s t h a n in 1895.
T h e p r in c ip a l a d d itio n s t o th e c o m p a n y 's p ro p e rtie s sin c e th e la s t a n n u a l re p o r t h a v e b e e n 110-18 m ile s o f m a in lin e a n d
b r a n c h e s , 2 5-68 m ile s o f d o u b le tr a c k , 57-68 m ile s o f s id in g s , 81 lo c o m o t iv e s , 6 P u llm a n s le e p in g , 4 c o m p a r t m e n t , 3 c o m p o s ­
ite , 2 d in in g , 23 fir s t-c la s s p a sse n g e r, 5 b a g g a g e a n d e x p r e s s , 877 f r e ig h t c a rs a n d 3 r o a d -s e r v ic e c a r s . T h e r o lli n g s to c k
b u ilt or p u r c h a se d , a n d c h a r g e d to th e s e v e r a l r e n e w a l fu n d s , c o n s is te d o f 21 lo c o m o t iv e s , 2 P u llm a n s le e p in g , 7 p a s s e n g e r ,
7 b a g g a g e a n d e x p r e s s , 776 f r e i g h t a n d 10 r o a d -s e r v ic e c a r s . F r o m th e c h a r a c te r o f t h e r e n e w a ls a n d a d d itio n s m a d e t o th e
p r o p e r ty o f th e re s p e c tiv e c o m p a n ie s , a n d th e c o n d itio n o f th e r o a d w a y a n d b r id g e s a s s h o w n in t a b le s N o . 28 a n d 2 4 in th e
C o n tr o lle r ’s r e p o r t, it w ill b e e v id e n t t h a t th e ir e x c e lle n t p h y s ic a l c o n d itio n h a s b e e n f u ll y m a in t a in e d , a n d t h a t t h e c o m ­
p a n y is s t e a d ily im p r o v in g t h e ir c o n d itio n a n d e ffic ie n c y fo r th e p u b lic s e r v ic e .
T h e to n n a g e m o v e d o v e r th e lin e s o f th e P a c ific S y s te m a n d A t l a n t i c P ro p e rtie s a v e r a g e d 3 62 ,4 03 to n m ile s per m ile o f
ro a d o p e ra te d a n d e x c e e d e d b y 9 -1 8 p e r c e n t t h e to n n a g e o f 1894. T h e d e c re a s e in r a te s , h o w e v e r , o p e r a te d t o d im in is h
th e fr e ig h t e a r n in g s b y $ 1 ,0 6 4 ,4 5 4 58 f r o m th e a m o u n t th e c o m p a n y w o u ld h a v e r e c e iv e d h a d th e r a te s o b ta in e d in 1895
b e e n th e s a m e a s th o s e o b ta in e d in 1894.
P e r ta in in g t o t h e im p o r ta n t q u e s tio n o f r a te s , th e I n t e r -S t a t e C o m m e r c e C o m m is s io n , in a n a d v a n c e c o p y o f t h e ir r e ­
p o r t fo r th e y e a r e n d in g J u n e 30, 1894, p r e s e n ts b y g r o u p s s o m e in t e r e s t in g t a b le s a n d d ia g r a m s in re s p e c t t o a v e r a g e
r e c e ip ts p e r p a s s e n g e r a n d p er to n p e r m ile a n d d e n s ity o f tr a ffic . A s t h e lin e s o f t h e P a c ific S y s t e m o f th i s c o m p a n y are
s itu a te d e n tir e ly in g r o u p X in t h e g e o g r a p h ic a l d iv is io n o b s e r v e d b y t h e I n t e r -S t a t e C o m m e r c e C o m m is s io n in sa id re p o r t,
a t te n tio n is c a lle d to th e f o l lo w i n g c o m p a r is o n o f th e a v e r a g e re c e ip ts p e r t o n p e r m ile b e tw e e n t h e lin e s o f t h e P a c ific
S y s t e m , w h ic h f o r m 3 8-80 p e r c e n t o f th e t o t a l m ile a g e in sa id g r o u p :
P er ton p e r m ile. P e r p a s s en g er p e r m ile.

Average receipts, Group X , Inter-State Commerce Commission report, 1894...........................
A verage receipts, Pacific System lines, for the y ear 1894................................................................
Average receipts, P acific System lines, lo r tlie year 1895................................................................

1-343 cents
1-316 “
1-260 “

2-046 cents.
1-894
“
1-965
“ •

T h e d e n s ity o f tr a ffic is a n im p o r t a n t f a c t o r in th e e a r n in g s o f th e r a ilr o a d s , a n d t h e c o n d itio n s u n d e r w h ic h t h e y
c o u ld c h a rg e lo w e r r a te s w it h o u t le s s e n in g t o th e p u b lic t h e e x c e lle n t s e r v ic e w h ic h t h e y a r e n o w g i v i n g i t , a n d d e p r iv in g
th o s e w h o a id e d th e d e v e lo p m e n t o f th e c o u n tr y b y c o n t r ib u t in g t h e ir m o n e y fo r t h e b u ild in g o f r a ilr o a d s o f a f a ir r e tu r n
u p o n t h e ir in v e s t m e n t , are m a i n ly d e p e n d e n t u p o n th e in c r e a s e d tr a ffic f r o m in c r e a s e d d e v e lo p m e n t o f t h e c o u n t r y . F r o m
th e f o llo w in g s t a t e m e n t , c o m p a r i n g th e d e n s i t y o f tr a ffic a n d th e a v e r a g e r a te s r e c e iv e d b y t h e ra ilro a d s in g r o u p I , c o m ­
p r is in g th e N e w E n g la n d S t a t e s , w it h th o s e o f g r o u p X a n d th e P a c ific S y s t e m lin e s o f t h is c o m p a n y , it w ill b e e v id e n t
t h a t th e ra te s re c e iv e d b y th e r a ilr o a d s in g r o u p X , i n c lu d in g th e P a c ific S y s t e m , a r e m u c h to o lo w in p ro p o rtio n to th e
a m o u n t o f b u sin e ss fo r t h e m , a n d th e m u c h h ig h e r p ric e s w h ic h t h e y h a v e t o p a y fo r f u e l, w a g e s a n d a ll m a t e r ia l e n te r in g
in to th e o p e r a tio n o f t h e ir r a i lr o a d s :
G roup I .
G roup X .
P a c ific System.

A verage receipts per ton per m ile..................................................................
1-243 cents.
Ton milgs per mile o f ro a d ............................................................................................ 409,785 tons.
Average receipts per passenger p er m ile..........................
1-854 cents.
Passenger miles per m ile o f road ............................................................................. 248,670 m iles.

1-343 c e n t ?
206,245 tons2*0'46 cents.
64,690 m iles.

1-316
274,665
1-894
79,375

cents.
tons.
cents.
m iles.

T h e a d v a n c e in r a te s o f a fr a c t io n o f a c e n t is, c o m p a r a t iv e ly , o f b u t l it t le a m o u n t t o e a c h p e r s o n u s in g t h e ra ilr o a d s , b u t
w h e n m u ltip le d b y t h e la r g e to n n a g e a n d tr a v e l o v e r t h e m i t re p r e s e n ts o n t h e o n e h a n d p ro p e r tie s w e ll m a in t a in e d a n d
g i v i n g e x c e lle n t se r v ic e to th e p u b lic , w i t h a f a ir r e tu r n u p o n th e c a p ita l e x p e n d e d to c r e a te t h e p r o p e r tie s , a n d o n th e
o th e r h a n d , a r e so r t t o th e c o u r ts fo r r e lie f, s u c h a s h a s o f t e n b e e n t h e c a s e , a n d p a r t ic u la r ly s in c e 1893, o f a c o n s id e r a b le
p a r t o f t h e r a ilr o a d p ro p e rtie s in t h i s c o u n tr y .
T h e loss in re v e n u e f r o m th e d e c re a se in r a te s a n d g a in in r e v e n u e f r o m th e in c r e a s e in t o n n a g e , o n t h e lin e s o f t h e
P a c ific S y s t e m , b e g in n in g w it h 1872 a n d c lo s in g w i t h 1895, th e flu c tu a tio n s in t o n n a g e a n d r a te s , w h ic h b e g a n w i t h 3-657
c e n ts p e r to n p e r m ile in 1872, a n d e n d e d w i t h 1 -2 60 c e n ts in 1895, are g r a p h ic a lly s e t f o r t h in a d ia g r a m a c c o m p a n y in g th e
C o n tr o lle r ’s re p o r t. T h is , a n d a n o th e r d ia g r a m s h o w in g f o r th e la s t 24 y e a r s t h e a v e r a g e r e c e ip ts p e r to n p e r m ile , th e
d e n s ity o f to n n a g e , a n d th e e a r n in g s o v e r o p e r a tin g e x p e n s e s p e r m ile o f r o a d , f u r n is h in t e r e s t in g d a ta o n th e s u b j e c t o f
r a ilr o a d tra ffic a n d ra te s o n th e P a c ific C o a st.
T h e se d ia g r a m s s h o w th e la r g e d e c re a s e in t h e a v e r a g e r a te s o f t r a n s p o r t a ­
tio n w h ic h h a s ta k e n p la c e o n th e s e lin e s , a n d d iffe r in g f r o m t h e e x p e r ie n c e o f t h e r a ilr o a d s in th e m o r e t h i c k ly s e ttle d
S ta t e s , w h e re th e t o n n a g e in c r e a s e d s u ffic ie n t ly t o e q u a l, a t le a s t, in e a r n in g s , t h e loss f r o m d e c r e a s e in r a te s ; in t h i s ,
t h a t th e loss in e a r n in g s o n th e P a c ific S y s t e m f r o m d e c re a se in r a te s h a s b e e n m o r e t h a n t w i c e th e a m o u n t o f t h e g a i n in
e a r n in g s f r o m a n in c r e a se in to n n a g e .
A lt h o u g h r a te s h a v e s t e a d ily d e c lin e d , th e e x p e n s e s a t t e n d in g t h e m o v e m e n t o f
th e in c r e a s e d b u sin e ss, in c r e a se in w a g e s , im p r o v e m e n ts in c a rs , lo c o m o t iv e s , a n d a ll o th e r a p p lia n c e s fo r th e p r o m p t a n d
s a fe m o v e m e n t o f p a sse n g e rs a n d f r e i g h t , h a v e s te a d ily in c r e a s e d th e e x p e n s e s o f o p e r a tio n , so t h a t t h e e a r n in g s o v e r
o p e r a tin g e x p e n se s p e r m ile o f ro a d o p e ra te d h a v e d e c re a s e d f r o m $5,7 6 3 97 in 1872 t o $ 2 ,2 9 6 62 in 1895.
T h e u n s a tis f a c t o r y c o n d itio n in t o w h ic h th e r a ilr o a d s o f t h e c o u n t r y h a v e b e e n fo r c e d b y t h e v a r io u s m e a n s e m p lo y e d
fo r e ff e c tin g re d u c tio n s in ra te s is , n o w b e in g r e c o g n iz e d b y t h e p u b lic .
T h e f e e lin g , a lm o s t a n e p id e m ic , p a s s in g fr o m
S ta t e to S t a t e , u n d e r w h o se in flu e n c e p e o p le h a v e fix e d , or e n d e a v o r e d t o f ix , t h e r a te s o f fa r e s a n d f r e ig h t s w h ic h t h e y
sh o u ld th e m s e lv e s p a y fo r th e s e r v ic e g i v e n , a n d t h e b e n e fits d e r iv e d b y th o s e w h o u se th e ra ilr o a d s , w it h o u t r e g a r d t o th e
r ig h ts o f th o se w h o c r e a te o r o w n th e p ro p e rtie s, is d is a p p e a r in g .
A b e t t e r a p p r e c ia tio n o f th e m u t u a li t y o f in t e r e s t b e t w e e n
th e p u b lic a n d th e r a ilr o a d s, a n d a h ig h e r se n se o f ju s t i c e , h a s b e e n r e a c h e d in m o s t o f th e S t a t e s , a n d i t is r e a s o n a b le to
a ssu m e th a t a s im ila r s ta te o f th e p u b lic m in d w ill s o o n o b ta in in t h e f e w S t a t e s in w h ic h a t t a c k s a r e s t i ll b e in g m a d e
a g a in s t co rp o r a te p r o p e r ty , a n d m o re p a r tic u la r ly r a ilro a d s .
Y o u r B o a rd h a s t o re c o rd t h e d e a th o f M r. G e r r it L . L a n s in g , S e c r e ta r y a n d C o n tr o lle r o f t h is c o m p a n y .
M r. L a n ­
s in g ’s c o n n e c tio n w i t h th is c o m p a n y c o v e r e d a p e rio d o f t w e n t y -s e v e n y e a r s , a n d th e a b le a n d c o n s c ie n tio u s m a n n e r in
w h ic h he a t te n d e d to th e v a r io u s d u tie s e n tr u s te d t o h im d u r in g h is lo n g c o n n e c tio n w it h th e s e in t e r e s t s m a k e s it e s p e c i­
a lly ap p ro p ria te t h a t th e B o a r d sh o u ld e x p re ss i t s se n se o f t h e d e e p loss s u s ta in e d b y t h e c o m p a n y .
T h e B o a r d d esire s to a c k n o w le d g e its in d e b te d n e s s t o th e office rs a n d e m p lo y e s o f t h e c o m p a n y fo r t h e s a t is f a c t o r y r e ­
s u lts o f th e y e a r , w h ic h are d u e t o t h e f a i t h f u l a n d e ffic ie n t d is c h a r g e o f t h e ir r e s p e c tiv e d u tie s .
R e s p e c t fu lly ,
C. P . H U N T IN G T O N ,
P r e s id e n t.
—Y e a r s e n d in g D ecem ber 31.-^

C E N T R A L PACIFIC R A ILR O A D CO M P AN Y .
A B STR A C T REPORT FOR Y E A R

9p4, 103.872 62
1895.
Interest on bonded debt fo r the y e a r .. $3,333,102 50
Sinking funds o f the com pan y...............
235,000 00
u- S. requirement, under Thurman A ot. 648,390 03
Taxes, assessed but n ot d u e...................
146,058 40
B ro u g h t F o n o a rd .

E N D I N G D E C . 3 1, 1895.

OPERATIONS F O B TH E Y E A R .
T h e f o llo w in g s t a t e m e n t s h o w s t h e tr a n s p o r ta tio n o p e r a "
tio n s o f th e c o m p a n y fo r t h e y e a r , a n d e m b r a c e s re c e ip ts a n d
d is b u r s e m e n ts re p o r te d b y th e lessee f o r a c c o u n t o f t h e tr a n s ­
p o r ta tio n o f th e c o m p a n y , a n d re c e ip ts a n d d is b u r s e m e n ts
m a d e d ir e c t ly b y th e c o m p a n y ; also c h a r g e s f o r t a x e s a n d
o th e r lia b ilitie s r e m a in in g u n p a id a t t h e c lo se o f th e y e a r , b u t
w h ic h are c h a r g e s t o tr a n s p o r ta tio n o p e ra tio n s fo r th e y e a r :
,— T ea rs e n d in g D ecem ber 31 .1895.
------1894.
Gross earnm gs,railroads & steam ers..$12,963,328 30 $13,022,970 58
Rentals—Other in com e...........................
82,329 33
95,274 34

Total receip ts.......................................$13,045,657 63 $13,118,244 92
Oper. exp. o f railroads and steam ers... $8,145,584 37
$8,168,857 93
Taxes, com pany's property, paid by
Southern Pacific Com pany..........
351,041 04
312,780 27
Betterments and additions..............
237,353 69
111,786 71
Rentals—Track aye and steamer for
ferry route.....................................
,
40,805 87
40,445 86
Terminal properties, e t c ...............
77,000 04
77,100 03
Q
8,851,785 01

8,710,970 80

$4,193,872 62

$4,407,274 12

Total
Net incom e from operation s.................
Net deficit from operation s.....................

§ 4,407,274 12
1894.
$3,353,925 55
185.000 00
599,700 90
124,053 87

$4,362,550 93

$4,262,680 32

...................
$168,678 31

$144,593 80
...................

T h e in c o m e f r o m o p e ra tio n s s h o w s a n e t d e c re a s e fo r 1895,
c o m p a r e d w it h 1894, o f $ 3 1 3 ,2 7 2 11, w h ic h is a c c o u n te d fo r as
f o l l o w s : T h e g r o s s e a r n in g s d e c r e a s e d $ 7 2 ,5 8 7 2 9 , w h ile
th e r e w a s a n in c r e a s e in e x p e n d it u r e s o f $ 3 8 ,2 6 0 77 fo r t a x e s
o n c o m p a n y ’s p r o p e r ty , $ 5 0 ,0 0 0 c o m p a n y ’s s in k in g f u n d r e I q u ir e m e n t s , $ 4 8 ,6 8 9 13 T h u r m a n A c t r e q u ir e m e n t, p a y a b le to
th e U n i t e d S t a t e s , $ 12 5 ,56 6 98 b e t t e r m e n t s a n d a d d itio n s to
p r o p e r ty , $ 2 2 ,0 0 4 53 t a x e s asse sse d b u t n o t d u e , a n d $260 02
fo r r e n t a ls . T h is is p a r tia lly o ffs e t b y a d e c re a s e o f $ 2 8 ,2 7 3 56
in o p e r. e x p e n s e s a n d $ 20 ,8 23 05 in in te r e s to n b o n d e d d e b t.
I n r e fe r e n c e t o t h e d e fic it o f $ 16 8 ,67 8 31 fo r th e y e a r , as
s h o w n in th e a b o v e t a b le , a t t e n t io n is c a lle d to th e in c r e a s e
o f $ 14 2 ,28 2 22 c h a r g e d in o p e r a tin g e x p e n s e s f o r re p a ir s a n d
r e n e w a ls o f e q u ip m e n t, d e t a ils o f w h ic h w i ll b e fo u n d in
ta b le J o f t h e re p o r t o f th e S e c r e ta r y a n d A u d i t o r , a n d
t h e in c r e a s e o f $ 12 5 ,5 5 6 98 in e x p e n d it u r e s fo r b e t t e r m e n t ^
a n d a d d itio n s .
T h e s e e x p e n d itu r e s w e r e n e c e s s a r y in o r d e r

j

THE CHRONICLE.

J une 13, 1896.]

th a t th e e q u ip m e n t sh o u ld b e p ro p e rly m a in ta in e d , a n d th e
a m o u n ts e x p e n d e d fo r b e t t e r m e n t s w e r e fo r s tr u c tu r e s
w h ic h are a p e r m a n e n t im p r o v e m e n t t o th e p ro p e rty .

E A R N IN G 8.
c l e a r s E nding D ecem ber 31.—

1895.
Passenger..................$3,726,266 36
MaU.............................
661,986 95
E x p ress......................
239,043 63
E xcess ba gg a ge.......
54,744 58
Sleeping car.............
131,956 63
F reight...................... 7.724,197 30
Car m ileage_____. . .
205,985 78
Locom otive mileage.
58,206 28
Telegraph...................
44,919 00
Rental of b’ ld’gs, etc.
55,000 89
Sundry........................
61,020 90
T ota l.................. $12,963,328 30
Operat’g expen ses.. 8,145,584 37
Earn’gsov 'rop .ex p s,$4,8 17,743 93

Inc. or Dec.

1894.
1895.
$3,828,043 27 D. $101,776 91
583.044 35
I. 78,942 60
218,932 71
I. 20,110 92
53,076 43
I. 1,668 15
162,638 32
D. 30,681 69
7,710,461 29
I. 13,736 01
D. 44,619 06
250,604 84
51,757 71
I. 6,448 57
I. 22 00
44,897 00
D. 9,195 69
64,196 58
I. 5,702 82
55,318 08
$13,022,970 58
8,168,857 93
$4,854,112 65

D. $59,642 28
D. 23,273 56

1097

T h e s in k in g fu n d in th e U n it e d S ta t e s T r e a s u r y w a s c r e ­
a t e d b y th e “ T h u r m a n A c t ” o f M a y 7 , 1878. T h e S e c r e ta r y
o f th e T r e a s u r y , a s c u s to d ia n o f th is f u n d , h a s m a d e in v e s t ­
m e n ts in U n i t e d S ta t e s b o n d s a n d first m o r tg a g e b o n d s o f
th e re s p e c tiv e c o m p a n ie s w h o se lie n is p rio r to t h a t o f th e
U n i t e d S ta t e s , a n d in v a r ia b ly a t a c o n s id e r a b le p r e m iu m .
A s s h o w n b y t h e f o llo w in g s ta t e m e n t , t h is p r e m iu m a m o u n ts
to th e s u m o f § 1 ,3 4 3 ,7 9 7 8 6 , w h ic h re p re s e n ts a lo ss t o th e
c o m p a n y , a s m o s t o f t h e b o n d s n o w in th e f u n d w i ll so o n
m a tu r e a n d be p a y a b le a t p a r. T h is s ta te m e n t a ls o sh o w s
th e c h a r a c te r o f th e v a r io u s in v e s t m e n t s .
T ea r e n d in g D ecem ber 3 1 ,1 8 9 5 —
D eposits b y the com pany........................................................$5,196,763 20
Interest and prem ium received ..................$2,406,161 81
Less premium paid........................................ 1,343,797 86
--------------------- 1,062,363 95

1,259,127 51

Total in fund.

D. $36,368 72

by the Secretary o f the Treasury:
Passenger earnings show a net decrease of §101,776 91. Invested
United States 6 percent currency bonds.$2,175,000 00
While there was an increase of §54,126 60 in local, there was
United States 5 per cent bonds of 18 94..
125,000 00
U nion Pacific R ailw ay bon ds...................
939,000 00
a decrease of $155,900 51 in through business, resulting in a
Union
P
acific
Railway,
Central
B
ranch.
163,000 00
net decrease as above stated.
Kansas Pacific R ailroad bonds.................
300,000 00
Mail earnings increased §78.942 60, which is owing to the
Sioux City & Pacific R ailw ay bon ds.......
32,000 00
Central Pacific Railroad bon ds................. 1,672,000 00
readjustment of rates following the re-weighing of the mails
W estern Pacific Railroad bon ds...............
117,000 00
by the Postoffice Department, which went into effect July
-------------------- $5,523,000 00
l] 1894. The increase in express earnings is due to more
Cash uninvested....................................................... — ........
736,127 15
favorable returns received under the new contract with the
Total in fu n d .......................................................................$6,259,127 15
express company in effect January 1, 1894. Sleeping-car
earnings decreased $30,681 69, owing largely to the decrease
P u r s u a n t t o a n A c t o f C o n g re s s a p p ro v e d J u n e 19, 1878
in through j/assenger business. The expenses, however, de­
i20 S t a t ., 169), th e U n it e d S ta t e s C o m m is s io n e r o f R a ilr o a d s
creased §18,232 36.
Freight earnings show a net increase of $13,736 01. While lias m a d e a n 'a n n u a l e x a m in a t io n o f th e a c c o u n ts o f th e
there was a decrease of §252,127 95 in through, there was an c o m p a n y a n d d e te r m in e d th e a m o u n ts c u r r e n t ly d u e th e
increase of §233,425 98 in local business, and §32,437 98 in U n it e d S ta t e s u n d e r th e p r o v is io n s o f t h e A c t s o f 1862, 1864,
company freight , resulting in a net increase as above stated. a n d th e T h u r m a n A c t o f 1878, a n d p a y m e n t s h a v e b e e n a n ­
The average earnings and expenses per mile of road were : n u a lly m a d e or p r o v id e d b y th e c o m p a n y fo r th e a m o u n ts
Inc. or Dec. so d e t e r m in e d . A s u m m a r y o f th e s e a c c o u n ts is s h o w n in
D.
$43 67th e f o llo w in g s t a t e m e n t :
D. 17 12
1894.
1895.
D.
26 75 Y e a r s e n d in g Dec. 31—
I. 11131 Annual requirem ent under the Thur­
$599,700 90
man A ct .................................................
$648,390 03
D.
13806 Applicable as follow s:
326,033 82
To United States bonds and in terest...
35 3,25 111
273,667 08
To sinking fund In U. S. T reasury.......
295,138 92

1895.
1894.
Gross receip ts.. . . __ . . . . . . . . . . . . . . $9,534 31
$9,578 13
Operating expen ses...................... 5,990 94
6,<408 0 6
Euros. OTer operating expenses.
3.543 37
3,570 12
T h is * so d all other fixed charges 3,492 86
3 ,3 8 1 5 5
Earn*, over all fixed charges ex­
cept betteim cats and addlt on*.
50 51
188 57
OPE R ATIN G EXPENSES.

The following furnishes, in a condensed form, a statement
of the operating expenses, comparatively, for 1895 and 1894 : Payments to the U. S. Governm ent to
Yenre ending Dec. 31—
1895.
Malnt. of wav and si ru e t.$ l,623,257 71
M aintenance o f eqnlpm ’ t 1,389,477 92
Conducting tranjp t’ n ___ 4,203,777 47
General expen se-........ .
989,071 27

1894.
$1,672,955 52
1,220,324 37
4,370.1 130 0
905,465 04

T ota l............................ $8,145,584 37 $8,168,957 93
ASSETS AND L IA BILITIE S.

In c o r Dec.

D.
1.
I>.
14.

$49,697
119,153
76,335
16,393

81
55
53
77

D. $23,273 56

D e c rea se

is

COM PARATIVE GENERAL BALANCE SHEET DECEMBER 31

ASSETS.
180,400 70

T o t B l ..................................... ................................................................ $ 1 ,6 3 1 ,2 9 5 3 9

Fuel, materials and supplies on hand........ $57,513 36
I Stocks, bonds and property owned.......... .
20,340 32
Iaind contracts, reduction In amount held. 92,854 31
Current account* ............................................ 428,124 03
L i a b il it ie s ;

Current accounts..............................................

3 3 .5 3 0 /0
$632,363 71
Net Increase In balance* to credit o f Incom e aects......... 1,198,931 68
............................. $1,831,295 39

T o ta l....

D u r in g th e y e a r $2.99:5.000 C e n tr a l P a c ific first m o r tg a g e
b o n d s , se rie s A , m a t u r i n g J u ly 1 , 1895, w e re e x te n d e d , w ith
th e c o n s e n t o f th e h o ld e rs, fo r a p eriod o f tw o a n d o n e -h a lf
y e a r s, v i z ., u n til J a n u a r y 1 ,1 8 9 8 , a n d th e in te r e s t re d u c e d to
flv e ( 5 1 i<er c e n t p er a n n u m .
I h e re w e r e issu e d §1 1 1 ,0 0 0
W e s t e r n P a c ific first m o r tg a g e b o n d s , se rie s A , t o ta k e up
a n e q u a l a m o u n t o f “ o ld issu e ” m a t u r i n g D e c e m b e r 1 ,1 8 9 5 .
I-a n d g r a n t b o n d s w ere r e d e e m e d to th e a m o u n t o f §125,000.

UNITED STATES GOVERNMENT ACCOUNT.

By cash p aym en t........................................... _ 6 3 3 :M2_48 ^

Total In sinking fnud...............................
In t e r e s t R f.-p a i d

by

»l 1 1

^

3

2Q

1,062,363 95
$6,259,127 15

8,170,740 57

redit o f com pany December 3 1 ,1 8 9 5 ........ $11,429,867 72

1894.

$169,323,125 17
1,891,847 38

$171,310,258 80 $171,214,972 55
C o m p a n y ’ s S in k in g F u n d s :

For redem ption of first rnort. bonds.
For redem ption of land grant bonds.
U n it e d

$9,966,133 57
2,3u4,888 30

$9,220,073 88
2,193,729 58

$12,321,021 87

$11,413,803 46

$9,389,292 82
5,o30,3o6 06

$9,036/041 71
5,235,217 64

$14,919,649 38

$14,271,259 35

$332
’2™ 22
2,700
79

$58,168 22
4,500 00
468,921 68

St a t e s G o v e r n m e n t — A s

per settlements by U . 8. Commis­
sioner of Rallroadsunder Acts of

Bond and mt.Sfect. to credit o f C o ..
Sinking fund in U. 8. Treasury.........

Cash on hand ....................................

Bills receivable.....................................
Earnings uncollected by lessee.........
Coupons due Jan. 1, 1896............... . .
Ogden Un. Ry. & Depot Co. 1st mort.
5 p 0. bonds, face value, $163,000.
Fractional U. 8. 6 p. c. bonds............

465,628 57
171,520 00
163,000 00
120 00

163,000 00

Southern Pacific C o m p a n y ....-...-....................
Materials forsh op s......... $751,5o4 29
Oil and waste........................
7,537 90
C oal..... ..............
214,206 41
W ood.................................. 215,98105
Materials fo r roadw ay.. 274,872 81
Sleeping-car linen..........
14,966 03— 1 ,4 /9 ,118 49

874,585 86

1,536,631 85

$2,621,748 84

$3,125,927 61

S acra m en to le v e e b o n d s........................

Co m p a n y :

By transportation serv ice ............................ .........o r
By cash for five per cent o f net earning*.
608..8 3 -6

1895.
Cost o f R oad and F ranchises :
Amounts standing on the books of the
com pany for the construction of
railroad and telegraph lines, side­
tracks. buildings,' bridges, shops,
m achinery, tools, telegraph instru­
ments, furniture, right-of-way, real
estate, wharves, piers, snowsheds
and galleries, transfer and ferry
steamers, river steamers, barges,
locom otives, cars, snowplows, e tc.$169,418,411 42
New equipm ent.....................................
1 ,8 9 1 ,3 4 /3 8

C urrent A ssets :

T h e a c c o u n ts w ith th e G o v e r n m e n t , a r is in g fr o m its issu e
o f si/-c a lle d ** s u b s i d y " b o n d s , a r e a s s ta te d b e l o w :
■ - in k in g F i nd in t h e U n it e d S t a t e s T r e a s u r y :
By transportation service........................... * l.M U 7 7 0 72

Interest and premiums received............... $2,406,161 81
Less premiums paid...................................... 1

$14,271,259 35

907,218 41

Lia b il it ie s :

D e c r e a s e ts A ssets :

in

T otal.................................................... $14,919,649 33

648,390 03

$9o,286 25

Funded debt, as per table B ,............ .......... .$125,000 00
Sinking funds, uninvested balance.............. 55,400 70

I n c rea se

$9,036,041 71
5,235,217 64

Y o u r B o a rd o f D ir e c to r s is s till u n a b le to re p o r t a n y d e fin ite
a c tio n o n th e p a r t o f C o n g re s s lo o k in g t o w a r d a fin a l s e ttle ­
m e n t b y th e c o m p a n y o f its in d e b te d n e s s t o th e U n it e d
S ta t e s .
D u r in g th e p r e s e n t se ssio n o f C o n g r e s s c o m m it t e e s
o f b o th th e S e n a te a n d th e H o u s e o f R e p r e s e n ta tiv e s h a v e
g iv e n th is s u b je c t m o s t c a r e fu l c o n s id e r a tio n , a n d it is c o n ­
fid e n tly e x p e c te d t h a t a fa ir a n d e g u ita b le p la n o f s e t t le m e n t
w ill s o o n r e c e iv e le g is la tiv e s a n c tio n .
R e s p e c t fu lly s u b m itte d ,
I S A A C L . R E Q U A , P r e s id e n t.

T h e a s s e ts a n d lia b ilitie s o f th e c o m p a n y are sh o w n in de
ta il in ta b le A in th e re p ort o f th e S e c r e ta r y a n d A u d ito r .
T h e f o llo w in g s t a t e m e n t g i v e s th e c h a n g e s m a d e th e r e in
d u r in g t h e p ast y e a r :
I n c r e a s e IN A ss e t s :
_____ __ ___

» w construction and equ ipm ent.....................................
Sinking fund* In United States T reasury, being Tburman A ct requirement.......... ...................................... .
Sinking funds o f com pany, annnal Incom e o f funds per
table C.............................................................. $740,059 69
F or redem ption o f land bonds per table D . 161,158 72

Dec. 31, as per settlements w ith the
U S. Commissioner o f Railroads :
For Unite.1 States bonds aud in terest.. $9,389,292 82
F or sinking fund In U. S. T re a s u r y .... 5,530,356 56

120 00
20,000 00

THE CHKON1CLK

1098

Contingent A ssets :
Unadjusted accoun ts...........................
Capital stock, Coos Bay, Oregon, Coal
Co., face value, $3,449,500............
Other stock s..........................................

Total assets

1894.

1895.

D e f e r r e d A ssets :

D iir from U. S. G ov’t for trausportation on non-aided and leased roads
over all requirem ents......................
Land contracts.....................................
Bills receivable.... ................................
Ogden Union Ry. & Depot C o...........
Cap. st’k. C olfax & F orest Hill Com­
mercial Co., face value, $ 2 3 ,3 0 0 ...
.100 acres o f land in Coos Co., Oregon.
Capital stock in river transportation
lines, faoe value, $160,000.............

$ J * je
$1,068,161
881,129
98,590
72,905

67
39
90
70

$1,068,161
973,983
100,050
72,905

67
70
42
70

2,330 00
19,066 40

2,330 00
19,406 72

80,000 00

80,000 00

$2,222,184 06

$2,316,838 2 i

$145,165 34

$145,165 34

3,449 50
168 00

3,449 50
168 00

$148,782 84

$118,782 84

$203,543,645 79

$202,491,584 02

L IA B IL IT IE S .

Cap it a l Stock —
1895.
Authorized issue.......$68,000,000 00
Less amount held in
com pany’s treas’y .
724,500 00
— —--------------- $67,275,500 00
F unded D ebt (Table B .pam pli. rep.) $59,975,000 00
U nited S tates B onds ........................ $27,855,680 00
C urrent L ia b il it ie s —
B ills payable—Trustees land grant
$400,000 00
m ortgage.............................................
A ccounts payable................................
345,134 12
39,180 00
Unclaimed coupons.............................
Unclaimed dividends..........................
39,865 00
Int.onbond saccru edto D ec.31,1895.
278,052 50
Taxes for 1895, due in 18 96..............
146,058 40
Southern Pacific Com pany................
97,886 11
Company sinking funds, unadjusted
*498,707 07
Collections from uncom pleted land
sales......................................................
192,002 91

1894.

$67,275,500 00
$60,100,000 00
$27,855,680 00
$400,000 00
346,878 77
41,875 00
50,166 00
280,170 00
124,053 87
676,891 38
107,369 89

$2,036,886 11

$2,027,404 91

$140,528 64
475,715 92

$210,030 34
437,565 33

$616,244 56
B alance o f A ccount—
Profit and loss balance (Table E,
pam phlet report)............................... $2,183,713 67
Used fo r redem ption o f land bonds
(Table F, pam phlet report) ..........
10,638,017 69
Used for sinking funds o f the com ­
pany Table G, pam phlet report.).. 18,042,954 38
Used fo r United States requirements
Table H, pamphlet rep ort)............
14,919,649 38

$647,595 67

10,444,713 28

$45,784,335 12

$44,585,403 44

Total liabilities.............................. $203,543,645 79

$202,491,584 02

Co n tix ge nt 'L ia b il it ie s —
Renewal fund fo r locom otives and
o a r s ......................................................
Unadjusted accounts...........................

$2,572,536 12

17,296,894 69
14,271,259 35

* Sines the close o f the year $322,000 00 o f this am ount was in­
vested in the first m ortgage 5 per cent bonds o f the Iberia & V ermilion
Railroad Company, the principal and interest o f w hich is guaranteed
by the M organ’s Louisiana & T exas R ailroad and Steamship Co.
U n io n

P a c ific

R y .—

Paym ent o f Equipm ent Bonds and

Coupons.— E q u ip m e n t

tru st os a n d 6s, S eries B a n d 0 . , d u e
A p r il 1, 1896, an d co u p o n s d u e A p r il 1, 1896, o f S eries A , B
a n d 0 , are n o w be in g p a id w it h in terest a t th e U n io n T ru st
C o m p a n y , N o . 80 B r o a d w a y , N e w Y o r k C it y , or a t th e office
o f J a m e s G . H a r r is , A m e s B u ild in g , B o s to n .— Y . 6 2 , p . 9 89.
W e l l i n g t o n G r e y & B r u c e .— Coupon Paym ent.— T h e G r a n d
T ru n k a n n o u n ce s in L o n d o n th a t th e e a r n in g s o f th is lea sed
lin e w ill a llo w it to p a y £ 1 17s o n a c c o u n t o f th e arre ars o f
in terest o n e a ch £ 1 0 0 7 per c e n t b o n d , u n d e r th e traffic c o n ­
tra c t c o v e rin g th e lin e .
W e s t J e r s e y & S e a s h o r e R R .—New $7,000,000 M ortgage.
— T h e sh areh old ers w ill m e e t J u n e 15 to a u th o r iz e a f u s t c o n ­
solid ated m o r tg a g e fo r $ 7 ,0 0 0 ,0 0 0 .— V . 6 2, p. 989,
W estern
U n i o n T e l e g r a p h — Q uarterly. — T h e estimated
rev en u e fo r th e q u a rter a n d the tw e lv e m o n th s e n d in g J u n e
3 0 , 1886, c o m p a re w ith actual resu lts in 1894 93 as f o llo w s :
3 m onths
N et
In terest <£
end. J u n e 30—
rev en u e, sink . fu n d . D ivid en d .
B a la n ce.

1896 (estimated)......$1.5(10,tOO *243,350 $1,191,950 sur. *64,700
1895 (actual)............ 1,583,049
243,714
1,191,941 sur. 147,394
12 m onths—
1895-96 (estim ated).$5,997,780 $933,803 $1,767,796 sur.$296,181
1891-90 (actual).
. 6,141,389
933,812
4,767,733 sur. 439,814
T o ta l su rp lu s J u n e 3 0 , 1896 (estim a ted ) $7,7<’3 ,6 5 7 , ag a in st
a c tu a l su rplu s in 1895 o f 8 7,4 4 7 ,4 7 6 .
D irecto rs h a v e d -c la r e d
th e re g u la r
p er ce n t d iv id e n d , p a y a b le J u lv 1 5 , 1898
T h e a c tu a l fig u res fo r th e q u a rter e n d in g M a rc h 3 1, 1898,
sh o w e d a d e fic it o f §3 8 3 ,5 7 6 u n d e r c h a rg e s an d d iv id e n d s.
T h e estim a te d d e fic it (see s ta te m e n t in V . 6 2, p . 501), w as
$ * 8 5 ,5 1 0 .- V . 6 2, p. 504.

W is c o n s i n

[You LXII.

C e n t r a l— M i l w a u k e e & L a k e W i n n e b a g o R R .

Lease o f Manitowoc Extension to W isconsin Central R e­
ceivers.— T h e M a n ito w o c e x te n sio n (see V . 62, p. 6 36 ,) w ill be
co m p le te d an d p u t in op e ra tio n in J u ly ,
T ra c k la y in g is
p rogressin g a t the r a te o f a b o u t a m ile a d a y . T h e W is c o n ­
sin C entral re ce iv ers h a v e a te m p o r a r y lease o f the e x te n sio n ,
te rm in a b le on s ix m o n th s’ n o tic e b y e ith e r p a r ty a fte r F e b ,
1 ,1 8 9 7 , “ fo r s u b sta n tia lly $ 7 2 ,0 0 0 per a n n u m .”
The W in n e ­
b a g o C o m p a n y , it is s ta te d , d e c lin e d to n e g o tia te a p e r m a ­
n e n t l ase u n til a fte r a c tu a l op e ra tio n s h o u ld s h o w th e va lu e
th e ex te n sio n a n d the la k e te rm in a ls.
T h e riv e r a n d h a r­
bor bill appropriates $ 4 4 ,0 0 0 to im p r o v e th e h a rb o r a n d the
c it y , an d abutters are d re d g in g in sid e the h arb o r fo r vessels
d ra w in g 20 fe e t.— V . 6 2 , p. 6 36, 828,

C o m m e r c ia l

COMMERCIAL

jin x e s .

EPITOME.
F r id a y N ig h t , June 12,1896.

T h e a d jo u r n m e n t o f th e p re sen t session o f C o n gre ss h as
p ro d u c e d a fe e lin g o f re lie f n o t o n ly in fin a n c ia l circle s b u t
in th e b u sin ess w o rld g e n e r a lly .
T h e u n e asin e ss ca u sed b y
th e u n c e r ta in ty s u r ro u n d in g the p o litic a l o u tlo o k , h o w e v e r ,
has c o n tin u e d a n d b e co m es m o re a p p a r e n t as th e tim e a p ­
p roaches fo r th e m e e tio g s o f the c o n v e n tio n s o f th e tw o
p a rtie s. T h e m o s t a c tiv e sp e c u la tio n o f th e y e a r in th e g ra in
a n d c o tto n m a rk e ts h as b e e n e x p e rie n c e d th is w e e k an d has
resu lted in a fu r th e r sh r in k a g e o f v a lu e s. C ro p p rosp ects g e n ­
e ra lly h a v e been fa v o r a b le .
F o r lard on th e sp ot th e re h as co n tin u e d a v e r y q u ie t m a r ­
k e t, b u t as th e re h as b een n o p a rticu la r p ressu re to se ll, p ric es
h a v e held f a ir ly s te a d y , c lo s in g a t 4 4 5 c . fo r p rim e W e s t e r n ,
4 ’05c. fo r p r im e O ily a n d 4 '6 5 c , fo r re fin e d f o r th e C o n tin e n t.
T h e local m a r k e t fo r la r d fu tu r e s has b e e n n e g le c te d , b u t
n o m in a l prices h a v e d e c lin e d in re sp on se to w e a k e r W e s t e r n
a d v ic e s , w h e re o ffe r in g s h a v e b een fre e , p ro m p ed b y th e c o n ­
tin u ed la rg e m o v e m e n t o f s w in e .

DAILY CLOSING PRICES OF LARD FUTURES

Sat.

Hon.

J u ly . . . . . . . . . . . . . . . . . . . . . o . 4 ’65
4*50
September...................... e...........................

Tues.

Wed.

____ _
4 '60

4'40
4 50
....................

lhur.

Fm.
4'45
......

T h e d e m a n d fo r p ork h a s b een ra th e r lim ite d a n d p ric es
h a v e w e a k e n e d s lig h t ly , c lo s in g a t $8 2 5 @ $ 8 5 0 fo r o ld m e s s
an d $8 5 0 ® $9 f o r n e w d o . C u t m e a ts h a v e re c e iv e d a lim it e d
a m o u n t o f a tte n tio n a n d p rices h a v e h eld fa ir ly s te a d y , c lo s ­
in g a t 4 @ 4 J £ c , fo r p ic k le d b e llies. 1 2 @ 1 0 lb s. a v e ra g e . 4 J 4 @
4 )^ c . fo r p ick led sh ou ld e rs a n d 9 ) £ @ 9 % c . fo r p ic k le d h a m s .
B e e f h as been in m o d e ra te re q u e s t a n d s te a d y , c lo s in g at
$6 5 0 @ $ 7 fo r m e s s , $7 5 0 @ $ 8 fo r p a c k e t, $ 8 5 0 @ $ 1 0 fo r f a m i l y
a n d $11 5 0 @ $ 1 4 fo r e x tr a In d ia m e s s . B e e f h a m s h a v e
been ste a d y a t $ 1 5 @ $ 1 5 50. T a llo w h as been m i d e r a t e ly
a c tiv e a n d s te a d y , c lo s in g a t 3 ) £ c . O le o -ste a rin e h as b een
q u ie t a t 4-p[c. L a r d stearin e h as been d u ll an d q u o te d n o m i­
n a lly at 5%c, C o tto n -s e e d oil h a s b e e n d u ll a n d e a s y , c lo s in g
a t 2 0 @ 2 0 )£ c . fo r p r im e c r u d e a n d 2 4 % c .@ 2 5 c . fo r p rim e y e l­
lo w . B u tte r has sold s lo w ly a n d th e close w a s e a s y a t l l j ^ @
1 5 )^ c . fo r c r e a m e ry .
C h e ese h a s b e e n in fa ir d e m a n d a n d
close d fir m a t 5 @ 6 % c , f o r S ta te fa c t o r y , fu ll c r e a m . F re s h
e g g s h a v e been q u ie t, c lo s in g b a re ly s te a d y a t 12c. f o r c h o ic e
W e s te r n .
T h e d e m a n d fo r c o ffe e o f B r a z il g r o w t h h as b een q u ie t, b u t
a d v ic e s fr o m p r im a l m a r k e ts h a v e been firm e r, a n d th e re h a s
been a ste ad ie r to n e in s y m p a th y , c lo s in g a t 1 3 )^ c . fo r R io
N o . 7 . T h e s u p p ly o f m ild g r a d e s h a s b een in cre ase d a n d
p rices h a v e d e c lin e d , c lo s i n g a t 1 6)^ c. fo r g o o d C u c u ta ; s ta n d ­
ard J a v a q u o te d a t 2 4 @ 2 4 }£ c .
T h e d e a lin g s in th e m a r k e t
fo r co n tra cts h a s been q u ie t, b u t prices h a v e m a d e s o m e i m ­
p ro v e m e n t o n th e ste ad ie r a d v ic e s f r o m B r a z il.
T h e c lo se
w a s a t s o m e d ec lin e fr o m to p p ric es o w in g to d is a p p o in tin g
E u ro p e a n ad v ice s.
T h e fo llo w in g w e r e th e fin al a s k in g p ric es:

June...........12*10c.
|S e p t .................. 10-70G. I D eo____ . . . . ..10'15o.
J u ly ...................l l ’65o. O c t ._________ ,10*35c. Jan.
..lo*0 5 o.
A u g .....................l l ’ lOo. I N ov......................1 0 2 5 c . I Feb.................. 9'95e.
E a r ly in th e w e e k sales o f r a w su g a rs w ere m a d e a t s lig h t ly
h ig h er p ric es, b u t su b se q u e n tly b u y ers w ith d r e w , a n d the
close w a s fla t a t 3 13 16c. fo r c e n tr ifu g a ls 0 6 -d e g test a n d
3 5 16c. f o r m u s c o v a d o 8 9 -d e g . te st. R e fin e d su ga rs h a v e so ld
s lo w ly an d to d a y p rices w e r e lo w e r e d 1 1 6 c ., c lo s in g a t 5c.
fo r g r a n u la te d . T e a s a n d o th e r sta p le g ro c eries h a v e been
q u ie t b u t s te a d y .
T h e better g ra d e s o f K e n t u c k y to b a c c o h i v e been in in ­
crea sed s u p p ly an d business h as been m o re a c tiv e a t firm
prices. S ale s, 2 00 h h d s.
S ee d le a f to b a c c o has re ce iv ed
s lig h tly increased a tte n tio n a t ste a d y p rices. S a le s fo r the
w eek w e r e 1 ,5 4 0 c a s 'S , as fo llo w s : 220 ca ses 1894 c r o o , N e w
E n g. H a v a n a , 9 @ 1 6 a .; 100 ca ses 1893 c ro p . N e w E i g . H a v a n a ,
7 @ 8 c . ; 150 cases 1892-93 c ro p , P e n n , seed le a f, 8 @ 1 0 c .; 100
cases 1892 crop , P e n n . H a v a n a , U ) £ @ 1 2 ) £ c . ; 120 cases 1893
crop , P e n n . H a v a n a , l l % @ 1 2 c . ; 150 ca ses 1894 crop P e n n .
H a v a n a , 9 @ 1 0 c .; 2 00 cases 1893-94 c r o p , W is c o n s in . 5 @ 8 c . ;
150 ca*es 1892 crop . G e b h a rt* , p riv ate te r m s , a n d 350 cases
1894 c ro p , Z im m e r s , 1 0 ) ^ ® l l ) ^ c . ; also 1,35 0 bales H a v a n a at
7 0 c .@ $ l 10, a n d 25 l bales S u m a tr a a t 6 5 c .@ $ 2 in b o n d .
T h e re h as c o n tin u e d a v e r y q u ie t a n d u a in te r e s liu g m a r k e t
fo r S tra its tin , th o u g h p rices sh o w s o m e re c o v e r y fr o m th e
d ec lin e n o ted last Iw eek, c lo s in g a t 1 3 ’4 0 c .@ 1 3 ’ 50c .
In go t
co p p e r lias been in fa ir ly g o o d d e m a n d a n d prices h a v e a d ­
v a n c e d , c lo s in g s te a d y a t l l '5 0 @ 1 2 c . fo r L a k e . L e a d has been
p ra c tic a lly n e g le c te d a n d w as q loted n o m in a lly a t th e close
a t 5c. fo r d o m e s tic ,
A lim ite d a m o u n t o f b u sin ess has been
tra n sa cte d in S p e lte r, b u t th e clo se w a s q u ie t a t 4 ’ 0 5 e .® 4 '1 0 c .
fo r d o m e s tic . P ig iron h as been u n c h a n g e d a t $ 1 0 '7 5 (a $ 1 3 00
fo r d o m e stic .
R e fin e d p e tro le u m has fu rth e r a d v a n c e d ,-c lo s in g at 6 ’ 90c.
in bbls , 4 ’4 0 c . in b u lk and 7 ’80c. in cai-es; cru d e in b b ls. has
been n o m in a l; n a p h th a u n c h a n g e d a t 7 )£ c . C r u d e ce rtifica tes
h a v e also a d v a n c e d , c lo s in g a t $ 1 1 8 bid . S p irits tu rp e n tin e
lia s b een m o d e r a te ly a c tiv e a n d ste ad y at 2 5 ) £ @ 2 6 c .
R osin s
h a v e been d u ll an d e asie r, c lo sin g a t $1 7 0 ® $1 7 2 ) £ fo r c o m ­
m o n and g o o d s tr a in e d . W o o l h a s b een d u ll a n d w ith o u t
c h a n g e . H o p s h a v e b een q u ie t b u t s te a d y .

THE CHRONICLE.

J une 13, 1896.]
C O T T O N .

F r i d a y N i g h t , J u n e 1 2 , 1896.
T h e M o v e m e n t o f t h e C r o p , a s in d ic a te d b y o u r te le g r a m s
fr o m th e S o u th to -n ig h t , is g iv e n b e lo w . F o r th e w e e k e n d in g
th is e v e n in g th e to ta l re ce ip ts h a v e re a ch e d 13,277 b a le s ,
a g a in s t 11,878 b a les la s t w e e k a n d 17,890 b a le s th e p re v io u s
w e e k , m i k i n g th e to ta l re c e ip ts sin c e th e 1st o f S e p t., 1895,
5 ,1 5 9 ,1 9 0 b a le s, a g a in s t 7 ,8 1 6 ,7 3 8 b a les fo r th e s a m e period o f
1891-5, s h o w in g a d ecrease sin c e S e p t. 1 ,1 8 9 5 , o f 2 ,6 5 7 ,2 6 8 b a le s
R eceipts at —

Sat.

M on.

G alveeton.........
Tex. City, Ac.
New O rlean s...
M ob ile...............

132
......
406
9

Savannah ........
B nm aw'k, Ac.
C harleston.......
Ft. R oyal, A c.
W ilm ington___

649

N orfolk..............
Went P oin t.......
y p o r t N., Ac.
New Y o r k ........
B o sto n ..............
B altim ore.........
Philadelph’a.Ac

T ku rs.

F ri.

17
......
525
6

195

2,500

49

1,004
11

221
1

492
.........

65

293

.....

54
.....
3

42

116

183
......

1

394

131
......

163
.....
90

249
969

1.878

10
......
.....
......
161

......

......

3.114

2,154

Total.

169
79
294
3
1,170
445
537
154

3,062
79
2,942
30
1,170
2,078
537
298

31

61

....

41
49
279
......
31
326
50

1,100
49
279
.. .
877
326
389

1,501

3,661

13,277

176 * 450
..
21
26
......
—
2
19

3

......
260

Tot'U this week

Wed.

Tues.

356
..........
......
131

...

....

....

T h e f o llo w in g sh o w s th e w e e k 's to ta l r e c e ip ts, th e to ta l s in c e
S e p t. 1 , 1895, a n d th e s to c k to n ig h t , c o m p a re d w ith l i s t v e a r .

Stock.

1« *4-95.
_|
Since Sep. This Since Sep.
1, 1895. , Week. ' 1, 1894.

1895-96.

Receipts to
June 12.

This
Week.

G a lv e sto n ...
Tex. C., Ac.
New Orleans
M ob ile.........
F lorid a ........ j
Savannah ...I
Br'wlek, Ac
C harleston..
P. Royal, Ac
W ilm ington.
Wash’n.Ac.
N o r fo lk ........
West P oint..
fCp’ tN ., Ac
New Y o r k ...
Boston..........
Baltimore ..!
Phlladel.. Ac.j

3,062 926,200.
79 112.443
2,942 1,726,375:
30 195,665;
1,170;
2,07 B 748.1511
537 115,625
29# I f *.pv .
77,242
61 170,851
7671
1,100 336,419.
49 143.639
24.952
279'
53,088
977, 124.409
326
43,394
389
42.853i

1896.

771 1,651.096
73,750
89
2.477 2,564,460
1,216 237.422
25,382
9
3,170 935,941.
72 152.748'
48 427,121
157,213;
15 234,279
1,528
2071
174
3,961
328;
1.462

18,000

12,257

80,336
5,398

126,174
10,094

10,724
1,402
14,492

19,086
2,441
19.998

5,486

10,280

9,184
469.175
82
285,758!
42,192
137,062 114,493
169 032
10,000
1 1 7 .7 7 3 ;
14,166,
145,376
7,896

19,566
846
2
219,254
6.200
10,831
12,832

......

13.V77 5.159,490. 15.527 7,816,758

T o ta ls .......

1895.

291.659

1896.

Galvea’ D Ac,
New Or Iran*
M o b ile ........
Savannah ..1
Ohas’ ton. Ac
Wllm*ton,Ac
N o r fo lk .......
W. Point, Ac.
A ll o t h e r s ...1
T ot. this w t

1895.

860
2,477
1,216
3,170
48
15
1,528!
381
5.S32;

3,141
2.942
30
2,078
298
61
1,100
328
3,299
13.277

1893.

1 1894.

15,527

2,399
7,122
182
5,241
1,116
77
343
482
1,851
18.813

I 1892.
927
11,597
730
4,646
556
280
2,800
1,144
2,814

2.618
9,230
140
3,774
9 17;
185
1,229
639
2,144
20,870

25,494

2,393
4,924
347
3,025
1.544
265
1,785
2,171
4,167

T h e e x p o r ts fo r th e w ee k e n d in g th is e v e n in g re a ch a to ta l

Great !
nrU ^ France
0

Conti­ Total
nent. Week.

Galve«t*.n......

....
Orlaan*..

Mobile A Pen

AIM
1.1T0

7,278 10,463
1,170
.......
2.5 m 2.M«i

.......

M 9»

Savannah ......
Charleston*..
W ilm ington..
N orfolk...........
West Point..
N’ p't Vewa. h e
New York......

.....

Baltimore— .

Phlladelp'aAc
T otal..........

1.4SHI

......
153
* .» «
80S
63{
11.154

0,000 11.2*1
2.27A
2*256 2,500
63

From Sept 1, 1896, to June 12. 1890.
E xported to—
Great
Britain. France

430,465 95.480
89.020 4,69,*
002.8? 1 305,338
80.594
35,386 20,3*9
50,381
97,875
40.053 1,770
30,715
9.930
14,629
329,020 28,040
263 1 7
50.999 2,017
8.0&5

Conti­
nent.

TotaL

101,034 090,509
42.252
81.471
562.760 1,52 *,979
29.947 145.511
302,965 301.090
74,340
23.959
178.442 276.817
90.708 132.631
62,533
15,818
9,930
14,629
258,036 015,701
2,792 255,989
82.047 141,063
42,219
83,694

153 20,514 31,851 [2,155.900 463.599 1,777.943 4,397,5314,281 47.083^8.343.005 709.984 2.443.870 0.667.705

UM
T otal. HKH-Ofc.
' including Port Horae

Great
Other
B rita in . F ra nce. F o reig n

Coast­
wise.

Total.

L ea v in g
Stock.

New Orleans...
Galveston........
Savannah........
C harleston. . . .
M ob ile..............
N orfolk ............
New Y o r k .......
Other ports___

2,500
6,000
None.
None.
None.
None.
7,400
6,000

9,000
None.
None.
None.
None.
None.
400
None.

7,000
None.
None.
None.
None.
400
4,200
1,800

300
686
None.
500
None.
1,500
None.
None.

18,800
6,686
None.
1,600
None.
1,900
12,000
7,800

61,536
11,314
10,724
18,992
5,398
7,294
102,493
31,232

Total 1 8 9 6 ...

21,900

9,400

13,400

2,986

47,686

243,973

Total 1 8 9 5 ...
Total 1 8 9 4 ...

21,608
12,215

662
364

14,563
12.456

2,600
9,246

39,433
34,281

430,478
359,711

T h e re h as b een co n sid e ra b le a c t i v i t y t o th e s p e c u la tio n in
c o tto n fo r fu tu r e d e liv e r y a n d p ric e s h a v e su ffe re d a m a te r ­
ial loss. E a r ly in th e w e e k , h o w e v e r , th e re w a s c o m p a r it iv e ly litt le c h a n g e , a n d th e d e a lin g s w ere ra th e r lim ite d .
T u e s d a y th e m a r k e t s ta r te d o n its d o w n w a r d c o u rse , p ric e s
d e c lin in g 16 t o 20 p o in ts u n d e r a c tiv e s e llin g , p ro m p te d b y
a d v ic e s fr o m S o u th w e s te r n T e x a s r e p o r tin g th e f a ll o f
n e ed e d ra in s , a n d in a n tic ip a tio n o f a fa v o r a b le B u r ­
e a u re p o r t.
W e d n e s d a y th e r e w a s a f u r th e r b r e a k o f 15
to 16 p o in ts o n th is cr o p a n d 8 t o 10 p o in ts o n th e n e x t , a c ­
c o m p a n ie d b y th e m o s t a c tiv e t r a d in g fo r a co n sid e r­
a b le tim e p a s t. T h e p rin c ip a l fa c t o r a t w o r k w a s th e
rep ort
of
rh e
G o v e r n m e n t’s
A g r ic u lt u r a l
B u reau ,
w h ic h
m a d e t h e c o n d itio n o f th e g r o w in g cr o p 9 7 '2 .
Y e s te r d a y th e r e w a s a r e c o v e r y o f 9 to ' 3 p o in ts o n th is crop
o n a fa ir ly b r is k d e m a n d fr o m “ s h o r t s ” to c o v e r c o n tr a c t s ,
a n d p ric e s fo r th e n e x t cr o p a d v a n c e d 2 to 4 p o in ts in s y m p a ­
th y . T o -d a y th e m a r k e t o p e n ed s lig h t ly h ig h e r in resp on se
to a n u n e x p e c te d a d v a n c e in L iv e r p o o l, b u t im m e d ia t e ly
w e a k e n e d a n d d e c lin e d 4 to 7 p o in t s u n d e r re p o rts o f f u r t h e r
ra in s in S o u th w e s te r n Texas. L a te r th e re w as a d e m a n d fr o m
“ sh o rts ” t o c o v e r c o n tr a c ts , a n d th e e a r ly loss w as f u lly r e ­
c o v e re d . th e c lo se b e in g s te a d y w itli p ric e s u n c h a n g e d t o 5
p o in ts h ig h e r a s c o m p a re d w ith y e s te r d a y ’s fin al q u o ta tio n s .
T h e m a r k e t fo r c o tto n o n th e sp ot h as been q u ie t a m i p rices
d e c lin e d J^c. o n T u e s d a y a n d 3 -1 6 c . o n W e d n e s d a y
T o -d a y
th e m a r k e t w a s q u ie t b u t s te a d y , m id d lin g u p la n d s c lo s in g
a t 7 7 -1 6c .
T h e to ta l sale s fo r fo rw a r d d e liv e ry fo r th e w e e k are 1 ,099,200
oales. F o r im m e d ia te d e liv e ry th e to ta l sales fo o t u p th is w e e k
7,51 5 b a le s, in c lu d in g 3 ,8 8 4 fo r e x p o r t, 1,131 fo r c o n s u m p tio n .
— fo r sp e c u la tio n a n d 2 ,7 0 0 o n c o n tr a c t. T h e f o llo w in g are
th e official q u o ta tio n s fo r e a c h d a y o f th e p a s t w e e k —
J u n e 6 to J u n e 12.
K ates o n a n d o ff m id d lin g , a s e sta b lish ed N o v . 2 2 , 1 8 9 3 ,
an d revised D e c . 11, 1895. b y th e R e v isio n C o m m itte e a t w h ic h
g rad e s o th e r t h a n m id d lin g m a y be d eliv ered o n c o n tr a c t :

off.
on. Good Ordinary............... o. 1
Even..
on. Good M iddling T in g e d ...
on. Striot M iddling S ta in ed .. 732 oft.
on. Middling Stained.............. 3g oft.
oft. Striot Tow Mid. Stained.. 2592 off.
3a off. Low M iddling S tained.. . . 1 H oft.
l l 1S oft.

0. 1*4
.. 7S
S trlotLow Middling.

-.
...

O n th is b a sis th e p ric es fo r a f e w o f th e g ra d e s w o u ld b e a s
fo llo w s .

UPLA.ND8.

S at.

[non X n e s W e d

Th.

P ll

iood Ordinary...........................
uow Middling.............................
diddling.....................................
iood Middling...........................
•fiddling F a ir ............................

6%

6H1

8=8

7L
7 ■6
7%
85ui

6h a
7xi«
77 a
7%

8=8

7 ',a
71,3
74t
85, A.

87ia

Nat.

fflon T n e i W ed

Tb.

P r.

GULF.

20,621

o f 81,851 b a les, o f w h ic h 11,151 w ere to G r e a t B r ita in . 153
t o F ra n c e a n d 30,551 to th e re st o f th e C o n tin e n t. B e lo w are

R eport*
from

ON SHIPBOARD, NOT CLEARED FOR—
J u n e 12 at—

1891.

Bines Sspi. 1 5159.490 7816.759 5858.782 4951,278 7013,20616831.837

Wt*k Ending J un e 12. 1808.
Exported to—

I n a d d itio n to a b o v e e x p o r ts , o u r te le g r a m s t o -n ig h t a ls o
give us th e f o llo w in g a m o u n ts o f c o tto n o n s h ip b o a rd , n o t
cleared , a t th e p o rts n a m e d .
W e a d d s im ila r fig u res fo r
N e w Y o r k , w h ic h are p rep ared fo r o u r sp ec ial use b y M essrs.
L a m b e r t & B a r r o w s , P ro d u c e E x c h a n g e B u ild in g .

469.911

In o r d e r t h a t c o m p a r is o n m a y b e m a d e w i t h o t h e r y e a r s , w e
feive b e lo w t h e to ta ls a t le a d in g p o rts f o r s ix season s.
R eceipt* at—

1099

7'ig
TH
8 >i«

7
7»s

Good Oruluarj...........................
Low Middling.............................
Middling................. ...................
Good Middling.............................
Vftddling F air............................

7%
7-k
8 'ie

8
85i«
87e

878

STAINED.

Nat.

Low Middling.......... ...................
Middling.......................................
Strict M iddling................... ........
Good Middling T inged............

6k!

7M
7%
7io 18
8k!

6t9

7
70s

8

6710

689

7k!
7 78
83,a
8%

6i>i« 611 6 611,8
70,6 7o,a 7°i«
7 l l 16
8
T 16 r ie
89.a 891 «

M o n T o e s W e d T il.

6^

638
714
7%
739
71*32 71 '32 7 ’ 332
73*
7%

8°.6

63,e
7 l 1fl
7*32
7 7ia

63,a
7 'ia
7*32
7718

F r i.
a

71 16

7 7S2
77,6

MARKET AND SALES.
T h e to ta l sale s o f c o tto n on th e sp o t a n d fo r fu tu r e d e liv e r y
e a c h d a y d u rin g th e w e e k are in d ic a te d in th e f o llo w in g
s ta te m e n t. F o r th e c o n v e n ie n c e o f th e reader w e a ls o a d d
a c o lu m n w h ic h s h o w s a t a g la n c e h o w th e m a r k e t olo sed o n
sa m e d a y s.
SALES OF SPOT AND CONTRACT.
SPOT MARKET
CLOSED.

Sat’d a y .
vi onday.
Tuesday
Wed’day
Thoi*d’y
Friday..
Total.!

Dull ................
Quiet ................
Dull at % d ec...
Quiet at
dec.
"u<le
t _
<
■«»_
S tea d y ..

E x­
p o rt.

Oon- Svecsum p. uVVn

....

209
136
94
119
223
290

3,684

1,131

3,684

Con­
tract.

2,000
100
600

....
....

....
2,700

269
5,820
194
719
223
290

Sales o f
F u tu res.

92,000
115,000
236,400
295,800
220.900
138,500

7,515 1,099,200

oo
oo
m

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J
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9
£ « S 0 1 a of ^ rt © E
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c *o—
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' ' +-*4—
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' rm <5^00 qdP
oD a D aocca ocococoa D a D
M arket, P rices and
Sales o f
FUTURES.

M a r k e t,
R a n ge a n d
Total Sales.

00
00 0

OOOOO fOCO
OOOOOOb
O O COOO CO05
^OOV^CcIrH-of
CO (NiO-f OCO
05 lHtH ----

O W 'd'G

■2 2 ®
0 -3 71
©
•
To w n s.
o
d b
fe
0) O
o B
hi
a ®§
>" -s a g, ® CO M ®
0 O© 0O 0O3 055 0005 CO
OOOOO
rt-Q
S'do O'd'd’P'P
§ s g s dS -H
rH
OOOOO
A l a b a m a .. .
Eufaula,
dOS
2
o.ft to jo
O O O 05 05 0
O O h OO
u
a) 0J-HMontgomery,
^ ‘ rH O C O O V
u
a
^
5
Selma,
l > CO rH 05 05
ft
§
5
0 a
0 05 CO rH CO
A r k a n s a s ..
m
_ 0) o « .& « . § Helena,
it
fH
CO
Little
Rock,
S -a £ 4 3 S
ift .£*
O O O H IO C !
OOOOO ©•ft !§d o*d*dmi1d r-1 4J +3 4JCLJ Y ®«.2 Albany,
G e o r g i a ....
0 0 0 -H . o 00
Ift fH
OOOOO O 1C
Athens,
.g & a s J,
t> ©
0 0 0 3 1 - ^
S
o
?
OOCIOO 0) o S
^ » t>COlO^ CO
Atlanta,
Tf ©
C 5 1 - ift 0 5 d t H
d
3
®
a
B)rO ^ ™ ® nd 0 Augusta,
O r-4 CO CO Lift'C !
•OCO
CO
I 0 0 5 r -H ^
ift dj
10
a ■■» W Columbus,
rH
§£ ft
§ i$ £
Macon,
© 5
OOOOO 0 0 jj£,d ^ d d d d
O O O C 5X O ;
©
Rome,
O O 0 ift 0 0
0© 0
OOOOO 0 0 !2 •! - jrfi i
O
J
C
5
1
r
H
K
jC
H
n
C
3
«
O
0
c
o
x
CO
Louisville,* K e n t u c k y .
OOOOO
7 Lmi
s is 9 0 a1 =! 1 Shreveport,
0
5
q
h O It P h O h
L o u is i a n a .
|
ft^
oi
l>
co
ci
^
a
-c3 “ j?™ 2 Sf S Columbus,
CC C3 05 C O O C 5 05 rH
M is s is s ip p i .
w C5* o +i Q/^rt*
X l O i H 05 rH
» q
p
0 ) cj
Greenville,
1
05 c3
- [05
Meridian,
s s ” ||® ?S Natchez,
•_;23 0 ® * •6
2
:l o p a
2 2 : 0
.3
Vicksburg,
a :§
“
“
l|
°-s
9 :o ?
Yazoo City,
: S. a
cj ©
d •'-< itJ ©
M is s o u r i ..
O t t o ’S
h : ?hco
« 2
o 'd « ®o| St. Louis,
PiO
N. C a r o l in a
Charlotte,
M
: c f
a-fc
°
>
OT3 O B Raleigh,
P<cn
d
I»
p
V
&
3
S
®
s
S
M
CS
m
i
s
O
©
r’
O
s*
q
^3
a -l d ^ c3
ilfli
O^r-H 0£<~ -jH — s g ^ s , Cincinnati, O h i o .............
c<3cq r-4 — 2
Columbia,
o fti^ 5.2
^ C © 3 ,2
S. C a r o l in a
£o ®l g
«3
•+j O J © 3 « S 2 o 3 § a J3 „ ^ a ^ P u ® « Greenwood,
O oa go co © G 0
®
q
a
"■•
go© I ®^CO O © © a s S ’g - 1
n
c
S
q
^ Memphis,
T e n n e s se e ..
“■> s
©
o
ft
_
4
0 2 >-< ®
UlSf®®
>1
^ O
«
m &■« d Nashville,
<%Z
b Sesg W<)
=»32“BS
b -2>
O®
w "© B
Brenham,
T e x a s ...........
* «-H|§§
«3'j 40 .g ro'd
£
ca
3 ^ e s S c ® a d 3I|5S®|
2
2
'O
S
Dallas,
0'S
t^o
O© « p
.a
J
«
o
o
H3
© © ©
H5 M
Houston,
5"d ©-*
-1•*-' +-’ h S s « +j a a c_, j_, h S S P'S § §
^2 5 C
fl^S
fto
« S fe C o a
S| t> " O
!S
h a^s
3 o S d flB
qh
S ^
.2
©
O'H tfl < 1 ^ g
S S « a ,« H
d o -o a a
3 j o5w
£> -*-> O Xl
Total. 31 towns.
£ *
«
or
00
•ft

c9

oo "5 . 3

D A IL Y
J u n e.

J u ly.

A u g u st.

P R IC E S
P

Septem ber.

AND

October.

SALES

OF

N ovem ber.

Easier.
A v’ge.. 7-53 Av'ge.. 7-52 A v ’ g e .. 7-48 Av’ge.. 6-90 Av’ge.. 6*84 A v’ge.. 6*78
Saturday, June 6 —
400
1,400
Sales, total.............
92,000
23,200
10,500
15,100
13,000
7-51® 7*54 7 45 it 7*56 7*44® 7*54 6 *8 6 ® 6*92 6-810 6-87 6*75® 6*82
6-750
7-56
Prices
paid
(range)
ft
Steady.
7 -5 0 - —
7-48— 7-49 7 -4 7 - 7-48 6-87— 6 - 8 8 6 -8 3 - 6-84 6*77— 6 *78
Closing...................
©
Irregular. Av’ge.. 7-50 Av’ ge.. 7-48 Av’ge.. 7*45 Av ge.. 6-89 Av'ge.. 6*85 Av’ge.. 6*79
Monday, June 8 —
400
115,600
700
■g <D Sales, total.............
26,700
7,400
27,200
17,000
Prices paid (range) 6'74fip 7’49 — ■© 7*50 7*43® 7*46 7*40® 7*49 6-85 0 6-94 0-800 6-90 6*74® 6*85
a 2
Steady.
7*47—
7*48
7*467*47
Closing...................
7*45- 7*46 6 -9 0 - 6-91 6 -8 6 - 6-87 6 -8 2 - 6-83
£> .ft
H «3

ej

Tuesday, June 9—
Depressed. Av’ge.. 7-38 Av’ge.. 7-36 Av’ge.. 7-34 Av’ge.. 6-77
236,400
2,700
6,600
Sales, total.............
74,200
18,200
Prices paid (range) 6 - 6 8 (t 7*45 7*30 d) 7*45 7*30® 7*42 7*27® 7*45 6 71® 6*89
7*30- 7*31 7 -3 0 - 7-31 7*23- 7*29 6 -7 0 - 6-71
Closing...................
Steady.

Lower
Av’ge.. 7-28
ft!
>- Wednesd’y, J’ ue 10—
O Q.
700
Hales, total.............
295,800
Prices paid (range) 6*55® 7-32 725® 7*31
Closing...................
Steady.
7*14- 7 1 5
o 0
S Thursday, .Tunc 11— Firmer. A v ’g e .. 7-20
ft .a
Bales, total.............
220,900
1,700
Prices paid (range) 6'543» 7*27 7-150 7-23
Closing...................
Steady.
7*23- 7*25

a|

<v

3 5
Jo ^

Av’ge.. 7-23 Av’ge.. 7-20 Av’ge.. 6*65
2,700
83,300
2 0 ,0 0 0
7*14® 7*32 7*08® 7*32 6-580 6-73
7 -1 4 - 7 15 7*13- 7 14 6 6 0 - 6 61
Av’ge.. 7-19 Av’ge.. 7-20 Av’ge.. 6-62
5,200
70,100
30,000
7*14® 7*25 7*12® 7-27 6*57® 6*67
7*27— 7*28 7 2 6 - —
6*64- 6*65

Friday, Juno 12—

Steady.
Av’ge..------- Av’ge.. 7*30 Av’ge.. 7*27 Av’ge.. 6-63
138,500
1,300
43,600
17,800
Prices paid (range) 6-580 7 32 — (i> 7*26® 7*32 7*20® 7*32 ,0-580 6-08
Closing...................
Steady.
7 -2 9 - 7-30 7*30- 7*32 7*28- 7*29 6 -6 5 - 6 - 6 6

sales this week
w p Total
B S Average price, week

1,099,200

Sales slnoe 8ep.l,’95* 43,649,000

Movement 10 June 12, 18tf6.
Receipts.
Shipm’ts Stock
This
Since
This
week. Sept. 1,’95. week. June 12.
34
29
20
20a
55
49
305
430
22
12
24
30
237
7

a §sj--

o
PH

S
5
« ®

05
o

0 COft

O
H 05
O O © ift O 05
1ft <35 00
ift 7Ur ji C5 d x
•ft C5 © rH GO
0 5 G 0 fH ^ iH
iH

5,900
7-38
,

1 2 2 1 ,2 0 0

17,900
7*35

321,100
7*32

103,900
6*74

923,000

4,534,200

592,800

F U 1U R E S
D ecem ber.

FOR

16
15
45
1,825
91
149
3,858
156
55
349
49
54
1,548

16,381
117,474
34,967
50,598
98,769
26,758
50,182
91,455
173,613
46,930
50,204
51,816
5,952
78,750
28,438
40,500
33,177
48,005
65,419
53,402
563,022
20,425
21,260
213,322
33,818
15, 980
418,885
21,220
53,720
41,130
1,040,483

9,667 3,606,055
EACH

J a n u a ry .

45
110
129
431
71
200
16
433
140
353
15
35
686
8
200
140
157
1,058
4,622
216
439
3,712
156
55
4,031
300
8,148

224
1,840
772
1,173
5,177
821
3,008
2,104
7,583
3,606
2,515
1,315
131 !
1,333
120
1 ,0 0 0 ;
2,400 !
2,056
4,267
3,400
31,074
25
1,110
3,750
650
26,572
197
1,824
1
10,820

26,506 120,868

Movement to June 14, 1895.

Receipts,
This
week.

Since
Sept. 1,’94.

12
42
7
87
29
2
15
210
59

Av’ ge.. 6*80 Av’ge.. 6-84 Av’ge.. 6*S7 A v’ge.. 6*95
20,400
6,700
1 ,0 0 0
300
6*76® 6*82 6*80® 6 * 8 6 — ® 6*87 — ® 6*95
6*79— 6*82- 6*83 6 -8 6 - 6-87 6*91- 6*92

A

,

S

63
1,079
370

2,967

6,665 15,620,750

16,931

2

6
8
223
01
41
57
36
102
2
2,830
72
1S1
782
379
12

190
3
80
1.129

A p r il.

M arch.

1 1 2

166,038
209,606
64,185
69,515
85,640
11,162
118,107
40,314
42,834
44,397
65,139
63,138
58,847
926,694
24,952
35,021
380,143
34,772
16,793
584,056
61,496
119,976
63,742
1,787,686

M ONTE.
F eb ru a ry .

42
38
87
664

May.
A _

2 0

25
381
788
37
50
90
34
1 1 2

4,260
72
481
1,325
379
6 6

3,373
4

___
12

939
1,596
133
26
3,446
373
615
3,677
8,681
4,398
817
39
597
1,395

co

’T s

c3 ^ q

p>

_I

c c »-<
cs . g

liC oq Qi
2 — d b.®
d!
I” d
58 i.'-S'Sa.a
J e -3 3 I
® O .ZT1© 2
" rt fil ©

S 8 ft w

r 9 © f t ft
, •rH
fH ft, © O
, ©

cfl

q «4-i

q ^ G i os d
•h a m » c3
© sc' p x\

2 0

350
544
576
495
252
20,166
25
1,300
10,496

^

c- q o .
^ oK n 10
a £ P-dcs•
S
<i3
© P 'JJ

ShipmHs Stock
This
w eek. J u n e 14.

19,365
143,939
77,328
68,882
125,123
32,644

79,216

'S

® B d3
-_ 3 S
, _
?? h

2 J ®

3 C5 |3 7 ®
mO O
m
fe O
J S "'
oftco
- .d
X
3
C
O
■* ® GO w
5jo
CO © ©
©
fHfti
H- d a ^ - g 5 §
d bebe 5 S ® « t
fcf-S‘d o S A g S
w o a *.
p ® 0. 1 0 0
©
AMw
3,446
►© d
0 x 1 ie d b
49
« S 3
2,280
* M ce-a’"’
01
3,263

76,155

© J- B
a
Bj ©
3.
■
“ d®dg n
0 y 3 ?<!
© ©

©® g'Cid
u®
. o©
— -® —
— ® —
o
w »d
Av’ge.. 6*82 Av’ge.. 6 - 8 6 Av’ge.. 6*90 Av’ge.. 6*93 Av’ge.. ------- A v’ge.. -------- ^ ©r^ ©
0
2 2 ,2 0 0
r_‘ o 05 ? o ' !
11,700
1,400
900
- d'-© bj
6-76 0 6-87 6*80® 6*92 6-S5® 6-95 6*91® 6*95 — ® —
6*84- 6-85 6-87— 6 - 8 8 6 -9 2 - 6-93 6*97- 6*98
£®
2 1t>WS®I
. “ (N2.
a © ^ cl.rjt fO
,
Av’ge.. 6-76 Av’ge.. 6*72 Av’ge.. 6-75 Av’ge.. 6*78 Av’ge.. 6*82 Av’ge.. 6-87
44,400
23,100
38,700
23,600
1,700
3,200
a ® g l2 5
6*71® 6-84 6 ’ 6 8 0 6-80 6-70® 6 82 6-74® 6-85 6*80® 6*84 6-83® 6-89 — ® —
— ® —
0-71— 6-72 6 *6 8 - 6 69 6*70- 6*71 6-74— 6-75 6 -7 8 - 6-80 6 -8 3 - 6-84
-j © C^—
1-4 f*~S
u ©^ £r© o jp
. .
Av’ge.. 6 - 6 6 A v’ge.. 6-65 Av'ge.. 6 * 6 6 A v’ge.. 6 - 6 8 Av’ge.. 6 74 Av’ge.. 6*79
5 S m” S * :P
.
©
t»»
©
55,700
20,400
71,100
29,800
4,500
7,600
*-aa»- o ^ bo
6*57® 6*75 6*55® 6*72 6*57® 6*73 6*60® 6*77 6-630 6-80 6*69® 6*87 — ® —
— ® — ! ? b- S | ? g,
6 -6 1 - 6*62 6 -5 9 - 6-60 6*61— 6*62 6 -6 5 - 6 - 6 6 6*70- 6*71 6*75— 6*76
2 0 =“
© ^
Av’ge.. 6*61 Av’ge.. 6*59 Av’ge.. 6*61 Av’ge.. 6*65 Av'ge.. 6*71 AiPge.. 6 *75
S®-3
®
ax ©
g h*'S-§
9 3 tc
29,100
15,600
45,400
20,400
1,400
OHO
2 ,0 0 0
“3<o © AG3t3 s©
6*57® 6*65 6*54® 6*64 6*57® 6*64 6*62® 6 * 6 8 6*67® 6*72 6*72® 6*77 — ® —
6*63— 6*64 6*61— 6*62 6 -6 3 - 6 64 6*67— 6 * 6 8 6 -7 2 - 6 73 6-77— 6-78
— ® Av’ge,. 6*62 Av’ ge.. 6-61 Av’ge.. 6*62 Av’ ge.. 6*67 Av’ge.. 6*73 Av’ge.. 6*77 Av’ge..------- Av’ge..------18,600
9,600
28,700
13,700
2,900
3,200
tJ S o tio j) ka
6*58® 6 * 6 6 6*58® 6*64 6*59® 6 * 6 6 6*64® 6*69 6*71® 6*73 6*75® 6*79 — ® —
— ® —
a? t. OTm a>c-l . .
6*65— —
6 6 2 —
0-62— 6-63 6 *6 8 — 6*69 6*73- 6*74 6*78- 6*79 — — —
o S ® 3 ® .® o
190,100
98,700
226,500
105,900
1 2 ,0 0 0
17,200
6*72
........
6*69
6*71
6-75
6*80
6*84
5®! 2 ^ W
1,662,800
3^8
846,300
1,231,000
401,400
51,900
43,500
■........ 1
. .....

nai**
^

; «

“
-ti
2 ® ®
g .5 5 ®

-% g 2 * i
m ® 3 ® •9- „ ft

1

s

f a l . - s

f la ? 2 d
g ■§
d43-d 2
£
if to d
e8 ® f t

•3

ce •r—
cfl W

.

c«

d

J r

o

*>

"1

S ft d «s

^
H'g
2 ^ _ dS

®

Jfc-N E

THE CHRONICLE

18, 1898.]

Q u o t a t i o n s f o r M id d l i n g C o t t o n a t O t h e r M a r k e t s . —
B e lo w a r e c lo s in g q u o t a t io n s o f m i d d lin g c o t t o n a t S o u th e r n
a n d o t h e r p r in c ip a l c o t t o n m a r k e ts f o r e a c h d a y o f th e w e e k .
_

.

..

J u n e 12.

c l o s is o

Satur.

Galveston. .
7
New Orleans
7 ‘ is
Mobile.........
Savannah...
7%
Charleston.. Nominal.
Wilmington.
7Aj
73*
Norfolk.......
Boston........
73*
Baltimore. .
7 Ta
Philadelphia
8
7*»
Augusta......
Memphis—
7>*
St. Louis___
7s13
Houston___
73,g
Cincinnati..
Louisville...
7**

q u ir.A T to x s f o b x i D M . u a c o t t o n o n —

M on.

Tues.

7ts
7is
7

74
7
7
74
71,«
74
74
74
74
74
7*5
7
73,s
74
74
74

74
74
74
74
74
8
74
71,«
7^,9
7*s
74
74

Wednes.

Thurs.

F ri.

74
71„l
71,e
6 73
64
64
6U l8
64
7
74
74
Nominal. Nominal.
7i,a
74
74
74
74
7»I6
7316
74
71-s
74
74
7!>,b
7 1 -„
7Hig
7 “ ,a
7*8
74
74
7
7
64
7l-o
7*io
74
615l6
7
610,8
74
74
74
74
74
74

T h e c lo s i n g q u o t a t io n s t o -d a y (F r id a y ) a t o t h e r im p o r t a n t
S o u th e r n m a r k e t s w e r e a s fo llo w s .
Natchez.......... • 6148
1 Eufaula............
A tlanta............
I.ittie R ock....
Charlotte.........
64 Raleigh........... . 74
74
Selma............... . 7
Montgomery...
Columbus, O i.
64
64
Columbus. Miss
Nashville.........
74 Shreveport — . 64
64
Receipts prom the P lantations.—The following table

indicates the actual movement each week from the plantations.
T h e figures do not include overland receipts nor S o u th e r n
consumption: they are simply a statement of the weekly
movement from the plantations of that part o f the crop which
finally reaches the market through the outports.
Week
Ending—

RecHptt at the Porta. St'k at Interior Towns. rUc'ptsfrom Plant’n$.
1.904.

Ztjibh
“ 16...... 21.604
22
2LJS02
M 20...... 12,209
J a n e 6 ....... 10,1107
18.813
• 12
Hmr

» .......

1806.

1886.

1804.

1806. | 1806.

180*. ] 1806.

1896.

41.000 27,331 155,017 148.653: 200,770 12.8311 24,475 14,057
30.565 64.871 147.040 137.322 187,120 12,7361 10,8341 12,221
20.066 22.076 134.405 U4.S50 163,0171 0.046 6,602
20.020 17..900 123.063 101.628 147.437 1,876 15,78©; 2,310
10.820 14.878 112.131 86.421 137,707 6.866! 4.622 6,148
16.627 13.277 00.082 78.155 120.868 6.664 5.3611

T h e a b o v e s ta t e m e n t s h o w s : l . — T h a t t h e t o t a l r e c e ip ts
f r o m th e p la n ta t io n s s in c e S e p t. 1. 1895, a re 5,247,658 b a le s; in
1894-95 w e r e 7,835,578 b a le s ; in 1893-94 w e r e 5,882,598 b a les.
2 .— T h a t a lt h o u g h th e r e c e ip ts a t th e o u t p o r t s t h e p ast w e e k
w e r e 13,277 b a le s, th e a c t u a l m o v e m e n t f r o m p la n ta t io n s w a s
o n ly ------ b a le s, th e b a la n o e b e in g ta k e n f r o m th e s t o c k s at
th e in t e r io r t o w n s . L a s t y e a r t h e r e c e ip ts f r o m th e p la n ta t io n s
f o r th e w e e k w e r e 5,261 b a le s a n d f o r 1894 t h e y w e r e
6,884 b a les.
O verland Movement for the W eek and Since S ept. 1,—
W e g iv e b e lo w a s t a t e m e n t s h o w in g th e o v e r la n d m o v e m e n t
fo » t r u w e e k a n d s in o e S e p te m b e r 1. A s th e r e tu r n s r e a c h u s
b y te le g r a p h la te F r id a y n ig h t i t is im p a ssib le t o e n te r so
la r g e ly in t o d e ta il a s in o u r r e g u la r m o n t h ly r e p o r t, b u t a ll
th e p r in c ip a l m a t te r s o f in te r e s t a r e g iv e n . T h is w e e k ly
p u b lic a t io n is o f c o u r s e s u p p le m e n t a r y t o th e m o r e e x t e n d e d
m o n t h ly s ta t e m e n ts . T h e r e s u lts f o r th e w e e k e n d in g J u n e 13
a n d s in c e S e p t. 1 in th e la s t t w o y e a r s a r e a s fo llo w s .
1894-95.

1895-96.
J u n e 12
Week.
S kipped —

Via
Via
Via
Via
Via
Via

C airo......................................
Parker C ity ............................
E vansville.............................
L o u is v ille ...........................
C incinnati..............................
other routes, A c....................

Total srrofki overland....... .
D ed u et shipm en t*—

Overland to N. Y., Boston, A c..
Between Intel ior towns.......... .
Inland, A c., from S o u th ............
Total to be deducted....... .

4,622
2,240
107
1.084
3.133
279

_

Since
SepL 1.

,

I

Week.

4,260'
1,848
100
........
293
345;
7831

539,497
239,762
19,086
1,681
135,031
111,485
91,773

Since
s e r l. 1.

918,404
331,772
35,200
3,817
188,202
176,047
147,789

7.629 1,801,231

11,463 1,138,335
1,592
93
868

268,743
3.329
49,779

5,751
3
229

559,293
30,499
74,185

2,553

322.051

5,983

663,977

1,8464,137.254
8,912 810,284
Leaving total net overland*..
• Including m ovem ent by rail to Cnnaila.
T h e fo r e g o in g s h o w s t h a t th e w e e k ’s n e t o v e r la n d m o v e m e n t
th is y e a r h as b e e n 8,912 b a le s, a g a in s t 1,646 b a le s f o r th e
w e e k in 1895, a n d t h a t f o r th e s e a so n t o d a te t h e a g g r e g a t e n e t
o v e r la n d e x h ib it s a fa llin g o t f fr o m a y e a r a g o o f 320,970 b a les.
1895-96.
In Sight and Spinner*'
Taktng*.
Receipts at ports to June 12........
Net overland to June 12...............
Southern consumption to June 12

Week.

!

1894-95.

Smee 1 _ .
Since
Seel. 1r e e k , j Sept. 1.

13.277 5,159,490 15,527 7,816,753
1,616 1,137,254
8,912 816,234
17,000 771,0001 10,000 659,000

Total marketed........... ............ 39,189 6,746,774 27,173 9,613,012
18,820
88,168 *10,200
Interior stocks In exceee............... *10,838
........ j 16,907
Came Into sight during week. ~22,350
6,834,942; ........ 9,631,832
Total In sight Jane 12......... .
100 2,021,608
North’n spinners tnk’gs to J'ne 12 17.401 1,365.173
•Decrease during week.
I t w ill b e seen b y th e a b o v e t h a t th e re h a s c o m e in t o s i g h t
d u r in g th e w e e k 22,350 b a le s, a g a in s t 18,907 b a le s f o r t h e
s a m e w e e k o f 1895, a n d t h a t th e d e c re a se in a m o u n t in s ig h t
t o - n ig h t a s c o m p a r e d w it h la st y e a r is 2,798,890 b a les.

W

eather

graph

R eports

11U1
by

T elegraph .— A d v ic e s to u s by te le ­

th is e v e n in g d en o te th a t

T e x a s there

w h ile in

s o m e section s o f

ha3 been rain th e p a st w e e k ,

in oth ers th e d ry

w e a th e r co n tin u es a n d m o istu re is n e e d e d .

I n th e re m a in d e r

o f th e c o tto n b e lt, h o w e v e r, th e co n d itio n s, both
ra in fa ll a n d te m p e ra tu re ,

h a v e as a ru le

as re g a rd s

been q u ite s a tis fa c ­

to ry and c o tto n is d o in g fin ely.
Galveston, Texas. — R ain s w ere beneficial w h ere th e y o c c u r e d , but th e y w ere n ot g e n e ra l and d ro u g h t still p re v a ils in
m a n y loca litie s.
E a r ly c o tto n h as stood th e d r y w e a th e r
better th a n la te p la n tin g s. S o m e p ests are still re p o rte d .
R ain has fa lle n lig h t ly o n three d ay s o f th e w e e k , th e p re cip i­
ta tio n r e a c h in g th irty -th r e e h u n d re d th s o f an in c h .
The
th e r m o m e te r has a v e r a g e d 82, r a n g in g f r o m 73 to 90.
Palestine. Texas.— W e h a v e h ad sh ow e rs on tw o d a y s o f th e
w e e k , th e p re cip ita tio n re a ch in g ten h u n d re d th s o f a n in ch .
T h e th e r m o m e te r has ra n g e d fr o m 66 to 9 2, a v e r a g in g 79.
Huntsville, Texas .— W e h a v e had d ry w ea th er all w e e k .
A v e r a g e th e r m o m e te r 82, h ig h est 96 an d lo w e s t 67.
Houston, Texas.— I t has been s h o w e ry on three d a y s o f th e
w ee k , th e ra in fa il b e in g se v e n ty -n in e h u n d red th s o f an in ch .
A v e r a g e th e r m o m e te r 83. h ig h est 95, lo w e st 71.
Dallas, Texas.— T h ere h a v e been sh ow e rs on tw o d ay s d u r­
in g th e w ee k , th e p recip ita tio n re a ch in g fifty h u n d re d th s o f
a n in c h . T h e th e r m o m e te r h as a v e r a g e d 7 6 , th e h ig h e st be­
in g 100 and th e lo w e s t 51.
San Antonio, le x a s . — W e h a v e h ad sh o w e rs o n three d ay s
o f th e w ee k , the p re c ip ita tio n rea ch in g f ift v -t w o h u n d re d th s
o f an in c h . T h e th e r m o m e te r h as av erag ed 82, ra n g in g fro m
66 to 98.
Luling, Texas .— I t has been s h o w e r y o n tw o d a y s o f th e
w e e k , th e r a in fa ll b e io g te n h u n d re d th s o f a n in ch .
The
th e r m o m e te r has ra n g e d fr o m 69 to 1 00, a v e r a g in g 84.
Columbia, Texas .— W e h a v e h a d rain on o n e d a y o f th e
w e e k , w ith a p re cip ita tio n o f s ix ty -fiv e h u n d re d tn s o f a n
in c h . A v e r a g e th e r m o m e te r 8 2, h ig h e st 9 4 a n d lo w e s t 71.
Cuero, T e x a s .— T h e re has been rain o n three d a y s o f th e
w e e k , the ra in fa ll re a c h in g on e in c h a n d th ir ty -n in e h u n ­
d red th s. T h e th e r m o m e te r h a s a v e r a g e d 8 2, th e h ig h e st
b e in g 98 a n d the lo w e st 67.
Brenham, le x a s . — W e h av e h a d sh o w e rs on tw o d a y s o f
the w e e k , to th e e x te n t o f e ig h tv -s ix h u n d re d th s o f an i n c h .
T h e th e r m o m e te r has a v e ra g e d 8 5 , ra n g in g fr o m 70 to 100.
Temple, Texas .— W e h a v e h ad rain o n on e d a y d u rin g t h e
w ee k , to th e e x te n t o f fo u r h u n d re d th s o f a n in ch . T h e th e r ­
m o m e te r h a s ra n g e d fr o m 64 to 99, a v e r a g in g 82.
F ort W orth, T e x a s .— R a in fa ll fo r the w e e k tw e n ty -tw o
h u n d re d th s o f an in c h , o n tw o d a y s. A v e r a g e th e r m o m e te r
79, h ig h e s t 100 an d lo w e s t 58.
Weatherford, Texas.— I t h as rained o n on e d a y o f th e w e e k ,
the p recip ita tio n re a c h in g n in e te e n h u n d re d th s o f an in c h .
T h e th e r m o m e te r h as a v e ra g e d 8 1, the h ig h e s t b e in g 100 a n d
th e lo w e s t 62.
New Orleans, Louisiana.— R ain has fa lle n o n five d a y s o f
th e w e e k , to th e e x te n t o f tw o in c h e s a n d e ig h t h u n d re d th s.
T h e th e r m o m e te r has a v e r a g e d 80.
Shreveport, Louisiana.— W e h a v e h a d rain o n five d a y s o f
the w e e k , the p re cip ita tio n b e in g th ir ty -fo u r h u n d re d th s o f
an in c h . T h e th e r m o m e te r h a s ra n g e d fr o m 62 to 9 5 , a v e r­
a g in g 80.
Columbus, Mississippi.— G e n e ro u s sh o w e rs h a v e fa lle n ov er
th e en tire c o u n ty . T h e re are s o m e co m p la in ts o f b o ll w o r m s
in p ra iries. I t h as rain ed on fo u r d ay s o f th e w e e k , th e
ra in fa ll re a c h in g f o r t y -fo u r h u n d re d th s o f an in c h . A v e r a g e
th e r m o m e te r 80, h ig h e st 9 8 , lo w e s t 60.
Leland, Mississippi.— T h ere h a s been rain on three d ay s
d u rin g the w ee k to th e e x te n t o f th irty h u n d re d th s o f a n in ch .
C orn has been d a m a g e d b y d ry w e a th e r. T h e th e r m o m e te r
h as a v e r a g e d 7 8 -3 , the h ig h est be in g 89 a n d the lo w e s t 58.
Vicksburg, Mississippi.— C rop c o n d itio n s are g o o d b u t rain
is r e e d e d in gom e p laces. I t h as ra in e d h ere o n th re e d a y s
o f th e w e e k , th e ra in fa ll be in g tw o in ch es a n d n in e ty -s ix
h u n d red th s.
T h e th e r m o m e te r has a v e r a g e d 76, r a n g in g
fro m 01 to 92.
Little Rock, Arkansas.— W e h a v e h a d ra in o n o n e d ay o f
th e p ast w e e k , th e p re cip ita tio n re a c h in g fiv e h u n d re d th s o f
an in ch . T h e th e r m o m e te r h as ra n g e d fr o m 59 t o 9 5 , a v e r ­
a g in g 77.
Helena, Arkansas. — Crops are in fin e c o n d itio n b u t th e la s t
fe w d a y s h a v e been rath er co ol. T h ere has been lig h t rain on
fo u r d a y s d u rin g th e w ee k , th e ra in fa ll be in g s ix ty h u n ­
d re d th s o f a n in c h . A v e r a g e th e r m o m e te r 76, h ig h e s t 86
an d lo w e st 62.
Memphis, Tennessee.— C rop c o n d itio n c o n tin u e s fin e, b u t
the past tw o d a y s h a v e b een ra th e r cool. R ain has fa lle n
on tw o d a y s o f the w e e k , to th e e x te n t o f n in e ty s ix h u n ­
d re d th s o f an in c h . T h e th e r m o m e te r h as a v e ra g e d 75 2 , th e
h ig h est b e in g 90 6 an d the low est 58.
Nashville, Tennessee.— T h e w e e k ’s ra in fa ll h as b e e n th ir ty three h u n d re d th s o f an inch.
T h e th e r m o m e te r h a s av e ra g e d
7 4 , ra n g in g fr o m 58 to 90.
Mobile, Alabama.— C rop reports are e x c e lle n t. W e h a v e
h ad ra in on e v e ry d a y o f the w e e k , th e ra in fa ll re a c h in g on e
in ch an d s e v e n ty -n in e h u n d re d th s. T h e th e r m o m e te r h as
ra n e ed fr o m 70 to 9 0 , a v e r a g in g 79.
Montgomery, Alabama.— C rop s are fine b u t g r a s s y in th e
prairies. I t has rain ed o n tw o d a y s o f th e w e e k , the p recip i­
ta tio n re a ch in g s e v e n ty -s ix h u n d re d tn s o f a n in c h . A v e r a g e
th e r m o m e te r 78, h ig h e st 85 a n d lo w e s t 71.
Selma, Alabama.—T h e re has been rain o n fo u r d ay s o f the

THK CHRONICLE.

1 102

|Vol . b i l l .

w e e k , th e p recip ita tio n reach in g s e v e n ty s ix h u n d re d th s o f are th e re ce ip ts a n l sh ip n m ts f >c tn s p u t waste a n 1 fo r th e
an inch . T h e th e r m o m e te r h as a v e r a g e d 7 4 , th e h ig h e st b e ­ c o rre sp o n d in g w e e k o f th e p re v io u s t w o y e a r s .
in g 88 a n d the lo w e st 61.
Alexandria, Egypt,
Madison, Florida. — T e le g r a m n o t re ce iv ed .
1893-94.
1894-95.
June 10.
1895-96.
Columbus, Georgia — T h e w e e k ’ s ra in fa ll h a s b een fo u r
h u n d re d th s o f an in c h . T h e th e r m o m e te r has ra n g e d fr o m
Renetpts (oantars*)___
,5,000
3,000
This week..................
6 8 to 8 6 , a v e r a g in g 78.
5,203,000
Since Sept. 1.............
4,534,000
4,962,000
Savannah, Georgia. — W e h a v e h a d ra in on five d a y s o f the
Since
This
Since
This
This
Since
w e e k , th e ra in fa ll re a ch in g fo r ty -o n e h u n d re d th s o f a n in c h .
week. Sept. 1. week. Sept. 1. week. Sept. 1.
A v e r a g e th e r m o m e te r 79, h ig h e st 9 3 , lo w e st 6 8 .
Augusta, G eorgia. — T h e re h as been rain o n on e d a y o f the Exports (bales)—
w e e k , th e p n c ip ita tio n re a c h in g fo u r h u n d re d th s o f an in c h .
To Liverpool........ . 3,000 326.000 2,000 265,000 5.000 297.000
To Continent!.......... 10,000 313.000 6,000 326,000, 9.000 276.000
T h e th e rm o m e te r has a v e r a g e d 7 8 , th e h ig h e st b e in g 89 a n d
the lo w e st 6 8 .
Total Europe. ... 13,000 639,000 3,000 593,000 14,000 573,000
Charleston, South Carolina. — W e h a v e h a d ra in o n th ree
* A eantir is US pounds.
d ay s d u rin g th e w e e k , th e r a in f a ll re a c h in g tw o in c h e s an d
t Of whiohto Viienas in IS is 9 8,55,27L bales; In 1811-95, 41,628
bales; in 1893-94,19,573 bales.
fifty -th re e h u n d re d th s. T h e th e r m o m e te r has ra n g e d f r o m
69 to 8 7. a v e r a g in g 77.
T h is s t a t e m e n t s h o w s t h a t t h e r e c e ip ts fo r th e w e e k e n d i n g
Stateburg, South Carolina. — C rops are p ro g re ssin g w e l l . It J u n e 10 w ere 5 ,6 0 0 c a n ta r s a n d th e s h ip m e n ts to a ll E u r o p e
has rain ed on three d a y s o f the w e e k , th e p re c ip ita tio n bM ng
13,000 b a le s.
th irty -se v e n h u n d re d th s o f a n in c h .
A v e r a g e th e r m o m e te r ,
M a n c h e s t e r U a r r e t . — O ir re p o r t re c e iv e d b v c a b le t o -n i g h
7 5 '4 , h ig h e st 86 and lo w e st 64.
f r o m M a n c h e s te r s ta te s t h a t th e m a r k e t is s t e a d y fo r b o th
Greenwood, South Carolina.— L ic e are sta ted to h a v e a p ­ ya rn s a n d s h ir tin g s . M e r c h a n ts are n o t w illin g t o p a y p re se n t
p eared on c o tto n a n d are c la im e d to be sp re a d in g .
R a in h a s
p ric e s .
W e g iv e the p rices f o r to -d a y b e low an d le a v e tn o se
fa lle n on tw o d a y s o f th e w e e k , to th e e x te n t o f on e in c h an d
fo r p re vio u s w eek s o f th is a n d la s t y e a r f o r c o m p a r is o n :
n in e h u n d re d th s.
A v e r a g e th e r m o m e te r 72, h ig h e st 88
1896.
lo w e st 56.
1895.
Wilson, North Carolina.— R a in has fa lle n on on e d a y o f th e
Co
tt’7
1
8*4
lbs.
Shirt­
8*4
lbs. Shirt­ Oott'n
w e e k , th e ra in fa ll r e a c h in g n n e t v h u n d re d th s o f a n in ch .
325 Oop. ings, common Mid. 32s Oop. ings, common Mid.
Twist.
T h e th e r m o m e te r h as a v e r a g e d 79, r a n g in g fr o m 70 to 88.
to finest.
JJplds Twist.
JJplds
to finest.
T h e fo llo w in g s ta te m e n t w e h a v e a lso re c e iv e d b y te le g r a p h ,
a.
d.
8.
d.
s.
d.
s.
d.
d.
d.
d,
d.
d.
d.
s h o w in g th e h e ig h t o f th e riv e rs a t th e p o in ts n a m e d a t
May 8 69.6 ®7h- 4 5 @ 6 9^2 47is 550 ® 630 4 2 -®6 2
3=8
8 o ’c lo c k J u n e 11, 1896, a n d J u n e 13, 1895.
32^32
6yie 'd>7’i\Q 4 5 ® 6 9
4% 5 i i 16®630 4 2 ® 6 2

V
New Orleans__
Memphis...........
Nashville...........
Shreveport........
Vloksbur.fi:..........

..........Above zero of gauge.
........ Above zero of gauge.
..........Above zero of gauge.
........ Above zero of gauge.

June 11, ’96. June 13, ’95.
Feet.
Feet.
39
11*5
22-2
4-8
4-4
6*2
4-7
0*9
93
33*3

E x c h a n g e s . —T h e fo llo w in g e x ch a n g es h ave been m ade
d u r in g th e w e e k :

•03 pd. to excii. 3n0 Oct. for Jan.
•59 pd. to exoh. 200 Juo. for July.
*01 pd. to excii. 300 Aug for Jan.
•02 pd. to exch. 200 Nnv. for Dec.
*11 pd. to excii. 5 0 0 Nov. for Feb.
■56 pd. to exeb. 2,3 0 1 Oct for Aug.

■ lio n m «.xcb. 100 Oct. for Jan.
Even 300 Deo. for Sept.
■00 pd. to exob. 1,000 Sep. for Aug.
■05 od. to exeb. 100 Dec for Jau.
■02 pd. to exeb. 100 Aug. for July.

I n d ia C otton M o vem en t F rom a l l P o r t s .— T h e r e c e ip t s
a n d s h ip m e n ts o f c o tto n a t B o m b a y h a v e b een a s f o llo w s f o r
th e w e e k a n d y e a r , b r in g in g th e fig u re s d o w n to J u n e 1 1.
B O M B AV RWOBIPTS AND SH IPM RN TS F O R 1 0 0 8

TEARS

Shipments this wee k
Shipments S'nee Sept. 1.
,
Year Great Conti-1
. Great Oontir I
Total.
Bril'n. nent. I Total. Britain nent.
'95-6 2,000 16,000 18,000 71.000
16,000 16,000 24.000
’94 5
10,000 10,000 44.000
•93-4
30,000 30,000 38.000
92-3

675.000
414.000
714.000
736.000

Receipts.
Since
This
Week. Sept. 1.

746.000
438.000
758.000
774.000

28,000
49.000
45.000
51.000

2.031.000
1.390.000
1.636.000
1.608.000

Great
Britain.

Oontinent.

Calcutta—
1895-96...
....
1894- 95...
Madras—
1895- 96...
........
1894- 95...
All others—
1895- 96... 2,000
2,000
1894- 95...
Total all—
1895- 96...
1894-95...

2.000
2,000

Great
Britain. Continent.

Total.

2,000

2 ,0 0 0

Total.

11,000
6,000

66,000
22,000

77.000
28.000

10,000
6,000

9,000
10,000

19.000
16.000

5.000
4.000

7.000
6.000

17.000
18.000

76.000
73.000

93.000
91.000

7.000
4.000

9.000
6.000

38.000
30.000

151.000
105.000

189.000
135.000

T h e a b o v e to ta ls fo r th e w e e k s h o w t h a t th e m o v e m e n t f r o m
Che p o r ts o th e r th a n B o m b a y is 3 ,0 0 0 b a le s more t h a n th e s a m e
w e e k la s t y e a r . F o r th e w h o le o f In d ia , th e r e fo r e , t h e t o t a l
s h ip m e n ts sin c e S e p te m b e r 1, 1895, a n d fo r t h e c o r r e sp o n d in g
p eriod s o f th e t w o p re v io u s y e a r s, are a s f o llo w s .
E X P O R T S TO E U R O P E F R O M A L L IN D IA .

1895-96.

Shipments
to all Europe
from—

This
week.

since
Sept. 1.

All other porta

18,000
9,000
27,000

9 3 5 ,0 0 0

Total

1894-95.
This
week.

1893-94.

Since
Sept. 1.

This
week.

Since
Sept. 1.

746.000 16,000
189.000
6,000

433.000
135.000

10,000
7,000

758.000
208.000

22,000

573,000

17,000

966,000

A l e x a n d r ia R e ceip t s a n d S h ip m e n t s .— T h r o u g h a r r a n g e ­
m e n ts w e h a v e m a d e w ith M essrs. D a v ie s, B e n a c lii & C o ., o f
L ive rp o ol and V le x a n ln a , w e n o w re ce iv e a w e e k ly c a b le o f
t h e n o v e m e n ts o f c o tto n a t A le x a n lria , E g y p t . T h e f o llo w in g

32732

378

3?s

313JS

(F r id a y ) e v e n in g b y te le g r a p h f r o m th e v a r io u s p o r ts th e
d e ta ils o f th e S e a Is la n d c o tto n m o v e m e n t fo r th e w e e k . T h e
receip ts fo r th e w e e k e n d in g to -n ig h t (J u n e 12) an d sin ce
S e p t. 1, 189 5 , th e s to c k s t o -n ig h t , a n d th e s a m e ite m s f o r th e
c o rre sp o n d in g p erio d s o f 1 8 9 4 -9 5 , a r e a s f o llo w s .

1895-96.
Receipts to June 12.

1894-95.

Slock

This
This
Since
Since
week. Sept. 1. week. Sept. 1. 1896.

8avannah ........................
Charleston, &c.............
Florida, <feo.......................
Total...........................

9 77,017
10,499
4,783

....

9 92,299

4 64,237 2,452
5,303
5
595
5,139
385

....

9 74,679! 3,432

1895.
4 7 9

102
70

651

T h e e x p o r ts fo r th e w een e n d in g th is e v e n in g re a c h a t o t a l
o f 332 h ales, o f w h ich 332 bales w ere to G r e a t B r ita in . —
to rrau ce and —
to R e v a l, an d th e a m o u n t fo r w a r d e d lo
N o rth ern m ills h as been 111 b a le s.
B e lo w a r e th e e x p o r ts
for th e w e e k a n d s in c e S e p te m b e r 1 in 1 89 5 -9 6 a n d 1 8 9 4 -9 5 .

Exports
from—

Week Ending J'ne 12. Since Sept. 1, 1895. Norlh’n Mill*.
Great. Fr'nce
Sine
Great Fr'nce
die. Total. BriVn
dlC. Total. Week Sept. 1
11,648 2,376 14,024
64 3,025
2,961

___ ___ ___

__

Shipments since Sept. 1.

3 -®6 3
3V<2>6 4
3^tS>6 4
3 a>6 3 ^

S e a I s l a n d C o tto n M o v e m e n t . — W e h a v e re c e iv e d t h i

A c c o r d in g to th e fo r e g o in g B o m b a y ap p ea rs t o s h o w
BriVn.
a decrease c o m p a re d w ith la s t y e a r in th e w e e k ’s re c e ip ts o f
21,0 0 0 b a le s a n d a n increase in s h ip m e n ts o f 2 ,0 0 0 b a le s, a n d 8’vann’h, &o
Chari’ t’n,&c
th e s h ip m e n ts sin ce S e p t. 1 s h o w a n increase o f 3 8 ,0 0 0 b a le s.
Florida, &o.
T h e m o v e m e n t a t C a lc u tta , M ad ras a n d o th e r I n d ia p o r ts for
New York..
27
Boston.......
305
th e la st re p orte d w ee k a n d sin c e th e 1st o f S e p te m b e r , for t w o
Baltimore..
y e a r s, has been a s fo llo w s .
“ O th e r p o r t s ” c o v e r C e y lo n ,
T u tio o r in , K u r r a c h e e a n d C o c o n a d a .
332
Total........

Shipments for the week.

4 h « 53i ® 67lft 4
4D:j2 5 3l6-g)6 ig 4
3 l0ie 5i3i0'@61a 4
329*3 5l318'®612 4

69.6 ®7?i 4 5
6 9
6",6 ^738 4 5 ® 6 9
630 @730 4 4 1s ® 6 9
6^4 &7H 4 4 ® 6

Total 1894-5

106

....

111 34,622
1,682

27 16,043 4,739 20,74*2
7,779
305 7,779
13 3,730
3,717

__ 3,608
___ __
... ........

332 42,148 7,192 49,340

I l l 39,912

106 34.960 5,612 40,572

46 34,742

A co n sid e r a b le p o rtio n o f th e S ea Isla n d c o tto n sh ip p e d to
fo re ig n p orts g o e s via N e w Y o r k , a n d s o m e s m a ll a m o u n ts v ia
B oston a n d B a ltim o r e .
In s te a d o f in c lu d in g th is c o tto n fo r
th e w e e k in w h ic h it le a v e s th e S o u th e r n o u tp o rts , w e f o llo w
th e s a m e p la n a s in o u r r e g u la r ta b le o f in c lu d in g it w h en
a c tu a lly e x p o r te d f r o m N e w Y o r k , & c .
T h e d e ta ils o f th e
s h ip m e n ts o f S e a Is la n d c o tto n fo r th e w e e k w ill be fo u n d
u n d er th e h e ad “ S h ip p in g N e w s ,” o n a s u b s e q u e n t p ag e.
Q u o ta tio n s J u n e 12 at S a v a n n a h , fo r F lo r ld a s . c o m m o n ,
lOfgc.; m e d iu m fin e , 1 3 c .; c h o ic e , 1 8 c .— a ll n o m in a l.
■jn a r le sto n , C a ro lin a s , m e d iu m fine, 2 0 c .; lin e , 2 3 @ J 3 c .;
f u lly fine, 2 5 c .; e x tr a fine, 2 6 @ 2 7 c .

Jute Butts, Bagging , & c .— T h e d e m a n d fo r ju t e b a g g in g
d u riD g th e w ee k u n d er r e v ie w h as been lig h t, b u t prices h ave
a p p a r e n tly been m a in ta in e d a t 3%o. fo r
In s., 4 J ^ c. fo r 2
lb s. a n d 4 % c . fo r sta n d a rd g r a d e s , in a jo b b in g w a y .
C a r­
load lots o f sta n d a rd b r a n d s are q u o te d a t 3%c. fo r \% lb s .,
4J^e. ^or 2 lb s. a n d 4 3 /c . fo r 2
l bs. , f . o . o. at N -*w Y j r k .
J u te b u tts c o n tin u e q u ie t o n tb e s p o t a t 1 l - 1 6 c . @ l j ^ c . fo r
p ap er q u a lity a n d 1 j^ c . fo r m i x i n g .
A gricultural Departments Report on A creage,— T h e
A g r ic u ltu r a l D e p a r tm e n t at W a s h in g t o n issu e d on th e 1 0 th
inst. its re p ort o n c o tto n c o n d t i o n an d a c re a g e .
The fo llo w ­
in g is w h at it sa y s o n th e s u b j e c t o f a c re a g e :
Tile consolidated returns o f reports to the Statistical Division o f the
Departm ent of Anrionltnre for tile month o f June a lloy the S tite
p eico daaes o f acreage, as com pared with last your, to he as follow s:
Virainia 107, North larolioa 117, South Carolina l l l . G s o r g i t 113,
Alabama 112, Mississippi 114, Louisiana 109, Texas 11 i, Arkansas
130, Tennessee is8 , Indian ^Territory 161. Missouri 163. Olnahoins
194. The general av eragels| ll6-2 , being !■ j p jr cent increase over
the May s'atem ent.

THE CHRONICLE

J e m 13, 1896.]

The fo llo w in g ia the report o f the Department on con d ition :
The average condition o f the crop for Jane l was: Virginia91,
Nonh Caro'in a 99,Sooth Carolina 97, Georgi a On, Florida ho. Alabama
103, MUsUstopi Id 1 . Loui-i-un 94, Texas 92, Arkansas 102, Tennessee
113, Missouri 92; general average «7-2.
In the Atlantic States, ir. spite of the dry weather ia early spring,
the Drop is a litt le earlier than usual. Poor stands, on account of
trough!
•
>d from two counties in North Carolina a id South
Carolina and from seven counties in Georgia. But the plants are in
fine condition as respects both cultivation and growth throughout
this region. In Florida the crop is late and stands are poor on
account of ih“ excessive drought. From Alabama, Mississippi, Lou­
isiana, Arkansas, Tennessee aud Indian Territory the reports are
unusually encouraging. The tirop Is not- only early hut stands are
the plant •ree from grass and outlook promising for » lull crop,
f ood,
a a few localities, however, there are complaints of damage by cut­
worms and li -e. in Texas the conditions have been less favorable
than in the Atlantic and. Gulf States. The cold ami damp weather at
seeding time not only makes the crop late,but has resulted in infesting
many Held* in a large area in the southwestern part of the State with
all manner of insects that damage the plant.
A considered e improvement, however, lias been made within the
past mouth. First plantings seem to be doing much better than later
ones. In nuinv of the h-avv producing oouuties the stands are good
aail indicate a close approximai ion to a fall crop.
The above statement of condition, compared with the
reports for previous years, is as follows4

aonLhty
Receipts.

1103
r ear Beginning September 1.

1895.

1894.

1893.

1892.

1891.

1890.

Sepi'mb’r 383,886 513,762 377,408 405,355 676,823 732,236
October., 1,202,460 1,622,664 1,311,269 1,135,473 1,532,426 1,365,231
Novemb’ r 912,759 1,607,662 1,277,776 1,125,855 1,376,90s 1,145,416
Oeoemb’ r 987,899 1,497,560 1,239,738 930,029 1,215,144 1,195,063
J anuary. 548,118 938,197 687,028 436,457 665,162 859,979
February 441,776 533,398 330,504 291,648 658,855 535,273
321,313 532,254 257,163 241,750 376,400 427,702
Maroh__
A p ril___ 211,30? 372,770 217,600 202.158 251,52V 298,132
124,076 158,135 126,011 129,905 192,895 196,018
May........

A G R P U L T U R A L IlRPARTU B-N T’ S JU N E CONDITION' R E P O R T S.

Total... 5,133 595 7,781,402 5,819,497 4,898,630 6,946,136 6,755,050
Pero’tage o l tot. port
9872
re ceipts May 31..
97-27
95-79
97-05
96-60

This statement shows that up to May 31 the receipts
at the ports this year were 3,(517,807 oales less than in
IS94-95 and 835,901 hales less than in 1893-94. By adding to
the totals to May 31 the daily receipts since that time w e
shall oe void r,, m u an exact comparison of the movement
for the different years.

June
l
l
s
1895-96. 1891-95. 1893-94. 1892-93. 1891-92. 1890-91.
OondiUon, 1896. L895.; 1891. 1893. 1892.il891.i 1890.1889. 1888. 1387.
!
To. My.31 5,133,595 7,781,10-2 5,819,497 4,898,830 6,946,136 6,755,050
m
97
Virginia...
67
7978
90
85
95
84
99 J’ne 1 -..,
3,040
1,775
2,959
1,484
3,4H
5,130
m
84
83
84
No. Car__
61
88!
95
98
86
99
3,422
3,436
8.
“ 2—
3,680
3.SS7
5,613
m
So. C a r....
72'80;
33
88
91
97
78
88
98
8.
3,054
3,468
“ 3 ....
876
3,752
5,458
80
80,
95
82:
76
87
87
92
Georgia...
94
93
1,375
4,863
8.
1,285
** 4 ....
2,753
3,793
85: 92 j 02
Florida..-90;
98
83
92
94
89i
98
3,926
5,801
6,785
** 5 ....
8,869
3.*18
8.
85
82
89
Alabama.. 103
91
93
S3
92
8?
99
857
4,462
1,9C9
«* 6___
1,878
1,762
5,680
Mississippi 10A
83
86
85
85
91
91
8s;
99
90
2,323
5,939
8.
2,425
8.
5,511
- 7 ....
Louisiana.
87
82
88
84
90
9t
85
95
97
88
3,306
?,162
3,389
9,054
6,355
•* 8 ....
969
82
T exas. . . . .
79,
91
j
84
92
94
95
81
80
91
3,998
5,181
5,964
2,154
8.
4,410
“ 9 ....
89
Arkansas,. 102
S9
97
75 i 89
85
92
94
98
2.509
2,145
3,114
89,098
2,661
“ 10...,
87
92
Tennessee. ii* :
7s
90
73;
92
87
79
97
2,942
2,377
8.
3,330
5,474
1,501
“ L I....
, . . , : .... . . . .
Missouri
92
89
96 .... . . .
90
97
1,492
4,386
4,940
3,661
3,41
8.
• 12 .
Okla.&LT.
70 1*0
...J, .... .. . . .. . .
... .. . .
T ota l. - 5,139,490 7,811.333 5,849,754 4,936,933 6,991,012 6,811,216
At&t&St#» 974*2' St*0 88-3 85 6 85i)i 85-71 88-8 88 4 : 88-2 96 9 Percentage ol total
97*77
' 96-35
90*10
97*41
97-68
port reo’ pta J’ ue 1 2
Domestic Kxports of Cotton M anufactures .-—Through

Thisscatemme mows tnatthe receipts since Sept. I up to
to-night ire now 3,051,313 hales less than they were to the
sone day o f the month in 1895 and 690,331 bales less than
they vere t >the s i ne day of the month in 1891. We add to
the ante the percentages o f total port receipts which had
been receive i to June 13 ia each o f the years named.
T he Following vre the D ross R eceipts cf C otton at
CiMMUttiMAf M a n u M ln ttf Oat-1M«mtK endlm Apr S'l.ftO met. ouiimi Apr. 30. New York, Boston, Philadelphia and Baltimore for the past
P m im b y r& i n n d u n c o la r e d )
week, tad since September 1, 1895.
mtp&rt446f*~
imm, 1
18’JPm. | lS8i-^6

the courtesy of Mr. W, C. Ford, Chief of the Bureau of
Statistics, we have received this week a statement showing the
exports of domestic cotton manufactures for April and for
the ten months ended April 30, 1806, with like figures for
the corresponding periods of the previous year, and give
them below:

0 aitod Kingdom ........ .yard*
Qmramnf ....
fffMMM.**.................
Otiwr? mmstnm tHISaropft.—*
Hortfe America ......
H «xt«o ... . . . . . . . . . . . . -------Ctntrmi hmmi&m States and
British Uondarfu...........
Cafe*............
........ ..
ftoerto Rico...... .
Santo DomijDiro...... .........
O t h e r W e s t l n«i l e a . . . . . . . . . . . .
kxmmMnmRapaMle...........
Brazil ........
united States of Colombia...
other mmotrles »nS. America
China............ ....... .......
Brit, Pomm'aMto AastraJmIa
BriUalt India and East Indie*
Other mmatnm in Asia and
Oossmts ........
Afrlea..................................
Otbareoantrida..... ..........
Total yard* of a&»▼«,...
Total- raiasa of atbor®....
Talm per yard,.......... ....

**
"
**
**
**

“

7,$m\

6.315,2)2.: 8,529,817
1,0 *0,73 71 1,911,978

137,3-2

2\msi l,.U5,95ll
384,357
2s%,0£2‘i 15,077,32 i\ 5,690 070

SO1.032)

154,956

7*>,03S|

1 ,2 9 2

**
**
‘‘

“
**
**
**
“

423,om

1/00.28©
504,235

M09.488 8.093,4121 7,768,0'9
86.772 lO.tSs.Sl'-* 7.108M i
225,000 7,035,732! 11.805,250
U.aei.tob 170,118.684' 140.110,011

11,271,124
I-0S78

.

Santo f o o i m - l B i z o . ...........

Oifear W est to d ie s ..........
..
Argentine Republic........ . — .. ...
BrarlL... ...................
United States o f Colombia...........
Other countries to So. A m erica-...
.....
China... . .. . ..................
British Aastralasls. . . . . . . . . . . . . . . . . .
British India and S « t Indies.. •..
Other ©craatrte# to Asia and
O c e a n ic * .,..,..................................
A fr ic a ...... ..................... . . . . . . . . . . . .
Tther©oantrle* . . . . . . . . . . . . . . . . .

Id14,9?d 89,952,859 88,604,038
8*0540

$‘05S5

8**577

116,610
33.7b5

1314.707
148,629

13,842

•41,625
1,000.632!
270,514

1174,48(3
158.459
7,070
41,8*5
1,21«, 4-9
126,101

to
5.778
206.78P
11,728
3,615
93

242

6,65 s
260
9.0 »01

2.48*1
3,470
271

8,00^

V*W YORK.
Receipt*
from—

5,33?,898j 5.031,868

1,253.261: 1 0 .1 0 1 /6 7 11,420,023
1454
2h».* 2 L
2t,tm
WM*\
7,1861
10,8605
3H2.232I
901.4 70
1. HM.HV/ 1,286.305
7 m, m\
. -ll.807.324i 11#78,120
7*1,176!
22 iAim
55, 30 2. «4i,eeu| 1*83, :<H
891,4*4 10,631,432 20 4i l.-96
9SH.372
6)1.315 5 ,9 7 0 .^ 8 4,350.597
?,918.021 1,097.8«} 23.242, J00 18,9*7,440
10,124,000 1,3 n.to-2, 48,687.503 2l.9nl,oM»
74.053
M5.048
67S.$t41
4 9,2 0
694tm< 2,143,UW 5,249,620
<5,000
1.075,147

fakuee o f other Manufacturti 0/
Cotton. fazport-ed to—
United K ingdom ........ ............. .
German 7 ..............................
fra n c * ..,
Otfear countries xm lsarope............
Sritlab North Am erica...
Mexico .. . .........................................
Centra! American States k BrltUb
Honduras— ........
— .. .
C ab*-..- . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
P u e r t o R i c o , ................................

TvtJ zjI 1.29W?

157,591
80,9 sl
5,i02
5,056

74,191
31,8601
59.153
25.688;

45,710

185,267

65

10A315
3,660 j

18.588

222,380!

N„ Orleans...
'tavann’ h &c
Mobile .. ..
F lo rid a ......
So. Carolina
Mo. Carolina
V irg in ia ....
Morth. ports
Tea si., &c...
Foreign— ..,
T otal........
Last y ea r....

BOSTON

PHILADKLPH'A

This
Nine?
Thi»
Since
Thu
3<«ce
u)e$k. S c p t . l . week. Sept, 1. xoeeh ■ S ept, l
3,330 272,103
913 21’3,339
1,4*9 ' 210,503

710
709
30*

0,13 i
71,876
29,199
1&,872
53,088
7,889

56
........
......

15,812
113,105
........
...........

.......

........
3,429

......

. ......
03,875

100,002
123,531
51,378

57,330

......
........

132

4,515
1,219
13,464

........
...........
78,936

2,000

321
.. ...

4 ,87!

931,117

1,122

590,083

132

54,057

1,123

184,334

8,280

870,463

2,588

167,1P2

2,723

325,679

12,118

S h ip p in g N e w s .— The exports of cotton from the United
State** the past week, as per latest mail returns, have reached
35,387 bales. So far as the Southern ports are concerned these
are the same exports reported by telegraph and published in
the C h r o n ic l e last Friday. With regard to New York we
Include the manifests of au vessels cleared up to Thursday.
Total bale/.

125,391 N ew T o r e —To Liverpool, per steamers Aurania, 1,535 —
88.221
Nomailic, 1,386 .......................................................................
3,U7
To Hull, oer steamer Soiudia, 1. J4.4........................... ...........
8,331
I 0 Havre, per steamer La Bourgogne, 153......................... .
59,1 '
To Bremen, per steamer Stuttgart, 3,867......................... ......
14.-143
93,"29
To H-iiumirg. p-u4steamer Persia, 3 i9 ...............- ....... ..........
29 521
To Aot we p. per steamers Berlin, 175__ Southwark, 585..
49,026
To Obrlstiaua, per steamer Hekla, 50......................................
11,270
To Gt-nna, per steamer Fms, 38>>.............. ...............................
08.1H9
To
I,
090vi ie»tH, per steamer Betty, 610.........................................
177,218
II, 179
18,928

Tne monthly movements since September 1, 1895, and in
previous vea^s, have been as follows:

48,068*

11,001 1,380,510

To Venice, per steamer Betty. 400................... .....................
To Yokohama, per steamer City of Dublin, 650 ............. ..
New Orlea 'is—To Llveipool, per steamerB Astronomer, 1,808
11,905
___Legislator. 1,( 9 8 ............................................ ...
-.......
To Havre, per steamers Highland Prlnoe, 2,300 ...ParabyTotal ralae o f other raannfac
ba, 2,7 8 ......................................-............. .............................
$369,032! m n & m 83,240.2711 82,407,255
tare* o f . . . , ........................... —
To Antwerp, per steamer Highland Prince, 800 ..................
8968,8091818.193,9301 811,071,893
» rains o f all cotton wood* 81,640,168!
To Barcelona, p r steamer Miguel Gallait. 3,974.................
Mobile —To Maoehear.ei, per steamer Huutcliff, 2,100...............
^Jij o m p a h a t i v e P o r t K e o e i p t b A N n D A iiiY C r o p M o v e m e n t . Savannah—To Barct-lm a, per steamer St. Regutue, 3,500........
—•A, comparison of the port movement by weeks is not
To Genoa, per steamer -t. Kegulus, 754>— ....
...............
accurate as Uie weeks in diffeient years do not end »n the Port R oyal To Liverpool, per steamer Yucatan, 1,813..........
N
orfolk —To Hamburg, per steamer
—
,
800.
same day of the month, We have consequently added to our aowoN—To Liverpool, per steamers Corlnthia, 571— , Michi­
other standing tables a daily and monthly statement, that
gan, 214 Upland and 72 Sea fBland..........Scythia, 228----the reader may constantly have before him the data for Baltimore —To Bremen, p-r steamer Neekar, 1,017.................
l’e
Antwerp, per steamer Norse King, 1 5 0 ............. .............
seeing the exact relative movement for the years named, Sah Franoisoo
—To Japan, per steamer Belgio, 100..................
lJSo
4,092

......

2,099
.. ..

. . .. ...
........

500
2,315
771
750

Ba l t im o r e .
This
Sin««
week. Sept.

Total

2,921
1,241
153
3,867
349
760
50
380
510
400
650
2,906
5,008
8<>0
3,974
2,100

3,500
750
1,813
800
1,085
1,017
150
100

35,287

THE CHRONICLE

1104

T h e p a r tic u la rs o f th e se s h ip m e n ts , a r r a n g e d in o u r u s u a l
f o r m , are as f o llo w s .
B u ll <£•
B rem en A niw 'p
L iv e r - M an<&Barn- a n d
South
p o o l. Ch ester. B a v re. burg. O hrisl’a .E u rop e.J a p a n . Total

153 4,216
New Y ork. 2,921 1,244
S . Orleans. 2,906 ........ 5,003
....... 2,100
M obile.......
Savannah..
Port Royal 1,813
800
N orfolk....................
Boston....... 1,085
1,017
Baltimore...............
San F ran.................
T o t a l ....

8,725

3,314

5,161

6,033

1,290
3,974

810
800

11,284
12,683

650

2,100

100

4,250
1,813
800
1,085
1,167
100

750

35,287

4,250
...
150

.......

1,760

9,514

B e lo w w e a d d th e c le a r a n c e s th is w e e k o f ve sse ls c a r r y in g
c o t t o n f r o m U n it e d S ta t e s p o r ts , b r in g in g o u r d a ta d o w n t o
t h e la t e s t d a te s :

N e w O r l e a n s — T o L iv e rp o o l-J n n e 9—Steamer Louisianian, 3,185.
To B rem en—June 12—8teamer A ldgate, 2,425.
To Genoa, &c —June 10—Steamer Istria, 3,750.
P e n s a c o l a — I o Liverpool—June 9—Steamer West Indian, 1,170.
S a v a n n a h — To B arcelon a- June 11—Steamer Ardle, 2,546.
C h a r l e s t o n — To B a rcelon a -J u n e 6—Bark Josefa Formosa, 1,499.
Boston —To Liverpool—June 2 —Steamer Cestrian, 2,2 05___June 5—
Steamer Gallia, 3 6
June 9—Steamer Philadelphian. 35.
B a l t i m o r e — T o L iverpool—June 3 -8 re a m e r Ulsteim ore, 305.
To B rem en—J une 10 - Steamer W illehad, 2,255.
P h i l a d e l p h i a — To Llvernool—June 5—Steamer Pennland, 53.

M on.

Tues.

Wednes. T hurs.

F ri.

L iverpool............ d.
S32
332
332
332
3S2
S3I
....
Do
............ d
....
....
....
.... ■
251
25f
2
5
1
25t
25t
H avre, asked ....c.
25t
D u nkirk_______ c
....
....
....
....
....
B rem en............... c 18®19t 18®19t 18®19t 18®19t 18®19t 18®19t
Do ............... c
221
22t
22i
H a m b u r g ....'....c
22t
221
22t
__
....
....
....
Do
............ c.
....
251
25t
25t
Am s’dam, asked.c. 27%t
25t
25t
34t
341
34t
34t
B eval, v. Hamb..c.
34t
34t
32t
341
D o v. H ull...tf.
34t
34t
34t
34t
....
....
....
B aroelona.......... d.
....
....
....
26t
261
261
26t
261
26t
G enoa................. c
Trieste, June___d.
964'®°32 98l® 532 964'2>532 964'®532 9S4,5,532
532
A ntw erp............. d.
332
332
3S2
332
332
3S2
Ghent, v. A ntw ’p.d
%
*8
%
t Cents net p er 100 lb s.

L i v e r p o o l . — B y c a b le f r o m L iv e r p o o l w e h a v e t h e f o l l o w i n g
s t a t e m e n t o f th e w e e k ’s sa le s, s to c k s . & c ., a t t h a t p o r t.
M ay 22

Bales o l the w eek ... . . . . . bales.
O f w hich exporters t o o k ...
O f w h lo h sp e o n la to rsto o k .
Bales Am erican___ . . . . . . . . . . . .
Aotual e x p o r t................... .

Forwarded..:...........................

T otal stock—E stim ated...........
O fw hiehA m erloan—B stim ’c
Total im port o f the w eek ___ _
Of whloh A m erioan_____
Amount afloat______ ________
O f w hloh A m erioan............

M a y 27

Ju n e 5

63,000
56.000
24.000
1,200
200
2,000
800
700
50.000
22.000
59.000
17.000
3,000
2,000
28,000
05.000
61.000
1,075,000 1,080,000 1,026,000
910,000 917,000 870,000
49.000
34.000
28.000
37.000
31.000
20,000
61.000
52.000
57.000
50,000
35.000
35.000

B R E A D S T U F F S .
F riday , June 12, 1896.
In

th e

m a r k e t fo r w h e a t flo u r

th e q u o ta tio n s fo r s p r in g

p a te n ts h a v e b e e n a d v a n c e d b y th e

c o m b in a tio n

of

m ille r s

b u t b u sin ess h as b een e x tr e m e ly s lo w , p a r tic u la r ly d u r in g th e
la tte r p a r t o f th e w e e k , w h e n a d e c lin e in w h e a t v a lu e s ca u se d
bu yers

to

w h o lly

w ith d r a w — to

a w a it lo w e r p ric es.

m ills h a v e h ad o n ly a v e r y lim ite d c a ll
s te a d y .

C ity

b u t p ric es h a v e h e ld

R y e flo u r h as so ld s lo w ly , b u t n o c h a n g e s h a v e b e e n

m a d e in q u o ta tio n s .

T h e d e m a n d fo r c o rn m e a l h a s b een fla t

a n d p rices h a v e been

b a r e ly m a in ta in e d .

T o d a y th e m a r k e t

fo r w h e a t flo u r w a s q u ie t a n d u n c h a n g e d .
I m m e d i a t e ly f o llo w in g o u r la s t th e re w a s c o n s id e r a b le e x ­
c ite m e n t in th e m a r k e t fo r
fo r c e d

r a p id ly

tio n

at

tired

“ lo n g s ”

th e

d ep ressed
m ent
as

up
W est.
w ere

fo r e ig n

a t th e

re g a rd s

and

fu tu r e s
by

a d v ic e s ,

a

and

g r o w in g

and

p ric e s

p r o m p te d

c o n tin u e d
g e n e r a lly

crop.

p ric e s

s p e c u la tiv e

S u b s e q u e n tly
liq u id a tin g ,

N o rth w e st

th e

w heat

dow n

w ere

m a n ip u la ­

d e c lin e d
by

fr e e

d u ll

crop

f a v o r a b le

Y e ste rd a y

as
and

m ove­
a d v ic e s

p r is e s

b ro k e

ra th e r s h a r p ly d u r in g e a r ly ’C h a n g e u n d e r th e fa v o r a b le
s h o w in g m a d e b y th e G o v e r n m e n t re p o rt p u b lis h e d late

C o tto n f r e ig h t s t h e p a s t w e e k h a v e b e e n a s fo llo w s .
S atu r.

[VOL. LXI1,

J u n e 12

80,000
3.000
800
72.000
3.000
71.000
976.000
821.000
24.000
17.000
56.000
35.000

W e d n e s d a y ; la ter in th e d a y , h o w e v e r , u n fa v o r a b le cr o p a d ­
v ic e s f r o m F r a n c e , a c c o m p a n ie d w ith b u y in g o r d e r s , c a u s e d
a r a lly a n d th e e a r ly loss w a s m o r e th a n re c o v e re d .
I n th e
sp o t m a r k e t o ffe r in g s h a v e been lim ite d a n d p rices h a v e h e ld
c o m p a r a tiv e ly s te a d y . T h e a m o u n t o f b u sin e ss tr a n sa c te d
h a s b e e n s m a ll.
T o -d a y th e m a r k e t w a s o n ly m o d e r a te ly a c ­
tiv e . A t o n e tim e p ric e s m a d e fr a c tio n a l a d v a n c e s on s o m e
u n fa v o r a b le cr o p ta lk f r o m th e W e s t b u t th e im p r o v e m e n t
w ss n o t m a in ta in e d . T h e sp o t m a r k e t w a s q u ie t b u t s te a d y .
T h e o n ly bu sin e ss tr a n s a c te d w a s a sa le o f N o . 2 M ilw a u k e e ,
b u t th e te r m s w e r e k e p t p riv a te .
N o . 2 red w in te r w a s q u o ­
te d n o m in a lly a t 7 21^ c. f . o, b. a flo a t a n d N o . 1 h a rd s p rin g
a t 69}%e. f . o. b . a flo a t.
D A IL Y CLOSING PRICES OF NO. 2 RE D W IN TER W H EAT.

June d e liv e r y .............. .
July delivery.................
August d elivery......... .
September delivery___
Decem ber delivery___
The
s p e c u la t iv e

8at.

Tues.

W ed,

65%
65i«

643s
64*8
64
64%
63%
63%
63%
64
65%
65%
m arket fo r

643q
64%
663a
th e

Thu rs.

Fri.
64%
63%
64
65%
In -

d ia n c o rn fu tu r e s
have
b e e n q u ie t a n d p ric es h a v e
g r a d u a lly
w eakened
under
fa v o r a b le
w e a th e r
c o n d i­
tio n s a t th e W e s t f o r th e g r o w in g crop a n d a lib e ra l
m o v e m e n t o f th e o ld c ro p . I n th e sp o t m a r k e t a lib e ra l
a m o u n t o f business h a s b e e n tr a n s a c te d , a g o o d tra d e h a v in g
been c h e c k e d b y th e c o m p a r a tiv e ly s tr o n g v ie w s o f se lle rs.
T h e sales y e s te r d a y in c lu d e d N o . 2 m ix e d a t 85,5. f , o . b . afloa t
a n d 36%c. f . o . b . a flo a t d e liv e r y first h a lf o f D e c e m b e r .
S te a m e r y e llo w a t 34c. in e le v a to r a n d N o . 2 w h ite a t 36% c.
T o -d a y th e m a r k e t w a s s te a d ie r o n s o m e b u y in g b y “ s h o r ts ”
to c o v e r c o n tr a c ts. T h e sp o t m a r k e t w a s q u ie t b u t s t e a d y
T h e sales in c lu d e d N o , 2 m ix e d a t 8 3 % c . in e le v a to r a n d
lo w m ix e d a t 3 3 c . in e le v a to r.
D A IL Y CLOSING PRICES OP NO. 2 M IXED CORN.

Sat
T h e to n e o f th e L iv e r p o o l m a r k e t fo r sp o ts a n d fu tu r e s e a c h
d a y o f th e w e e k e n d in g J u n e 12 a n d th e d a ily d o s i n g p r ic e s
o f s p o t c o tto n , h a v e b e e n a s f o llo w s .

Mon.

67%
67^4
6738
67%
6638
67
66%
67%
69
68 *a
d e a lin g s
in

June delivery .
J111? delivery.,
Heniemi/ir d ln

M on.

33^

333a

3 4 ia

34%

35
35%

....

3538

Tues.

Wed.

T h u rs.

33%
34. *8
34 %
35 %
35%

33%
34%
34%
35%
35%

33%
34

34%

33 %
34 %

35%
35%
Spot.
S a tu rd a y M ond ay. T uesday. Wed’da y. l'h u rsd ’ y. F rid a y . i
O a ts fo r f u tu r e d e liv e r y h a v e b e e n q u ie t a n d p ric es h a v e de­
c lin e d in s y m p a t h y w ith th e w e a k n e s s o f o th e r g r a in s an d
Market, \ Harden’g. Easier.
Good
Easier.
Firm.
Firm.
u n d e r f a v o r a b le p ro sp e c ts f o r th e g r o w in g c ro p .
I n th e sp ot
demand.
1:45 p. M.$
; m a r k e t , w h ile sh ip p ers h a v e b een f a ir ly la r g e b u y e r s t h e y
327S2
Mid.Upi’de. 4
32332
31Sj 6
h a v e n o t o p e ra te d as fr e e ly as n o ted la s t w e e k , a n d p rices h a v e
3 i 3ib
32732
w e a k e n e d s lig h t ly w ith f u tu r e s .
T h e b u sin e ss tra n sa c te d
12,000
12,000
10,000
12,000
14,000
14,000
y e s te r d a y in c lu d e d N o . 2 m ix e d a t 22J^c. in e le v a to r , 2 3 c . d e­
1,000
■peo. & exp.
500
1,000
1,000
1.000
1,000
liv e re d a n d 23%£c. f . o . b. a flo a t; a ls o c lip p e d w h ite a t 26J£c.
F u tu res.
f . o . b . a flo a t.
T o - d a y th e m a r k e t w a s q u ie t b u t s te a d y . T h e
at Barely Steady at Quiet at Steady at Steady at
Market, i !Steady
3-64 ad­ steady at 1-64 ad­
3-64 de­
3-64 de­ 2-64 @3-64 sp o t m a r k e t w a s f a ir ly a c tiv e . T h e sale s in c lu d e d N o . 2
1:45 p . M. J vance.
2-64 dec.
vance.
cline.
cline.
advance.
m ix e d a t 2 3 c . d e liv e re d and 2 3 % c . f . o . b . a flo a t; also w h ite
c lip p e d a t 26J^c. f. o. b . a flo a t. N o . 2 w h ite w a s q u o te d
Market, / j Steady.
Barely
Steady.
Easy.
Steady.
Steady.
n o m in a lly a t 2 4J | '@ 2 4 }£ c . in e le v a to r.
4 P. M. 5
steady.
.0 .
,.o.

....

36

35

....

D A ILY CLOSING PRIDES OP NO. 2 M IXED OATS.

T h e p ric e s o f fu tu r e s a t L iv e r p o o l fo r e a c h d a y are g iv e n
b e lo w . P ric e s a r e o n th e b a sis o f U p la n d s , L o w M id d lin g
cla u s e , u n le ss o th e r w ise sta te d .
t W The p rice s a re g iv e n in p e n c e a n d 64 th.
T h u s : 3 63 m ea n s
3 63-64fI.. ancl 4 01 m ea n s 4 1-61(1.

J u n e 6 to
J u n e 12.

S a tn r.

M on.

T u es.

W ed.

T lin r s .

F r i.

2:15- 4 12*a 1 2:15 4 2:15 4 2:15 4 2:15
M. 'P . M P . M. P.M. P.M. P.M. P.M.jP. M.jP.M. P.M. P. M.

P.

June............
Ju n e-J u ly..
J n ly-A u g ...
A ug.-Sept...
Bept.-Oct. ..
9 O ot.-N ov. ..
N ov .-D ee...
D eo.-Jan.. .
Jan-.Feb ...
Feb-Marcl)..
Mcb.-April,.
April-W ay..

d.
3 56
3 56
3 56
3 54
3 50
3 47
3 45
3 45
3 46
3 47
3 48

d.
3
3
3
3
3
3
3
3
3
3
3

58
58
58
57
52
49
47
47
47
48
49

d.

3 54
3 54
3 54
3 52
3 47
3 44
3 42
3 42
3 43
3 44
3 45

d.

d.

3 55; 3
3 55 3
3 55 3
3 53 3
3 49 3
3 46 3
3 4-13
3 44,3
3 44 3
3 45 3
3 46 3

d.

55 3 52
55 3 52
05 3 52
53 3 51
49 3 46
46 3 43
44; 3 41
-14 3 41
4413 41
4513 42
46 3 43

d.

d. \ d.

3 48B 50 3 50
3 48!3 50 3 49
3 48 3 50 3 49
3 47:3 48,3 48
3 42 3 44 3 43
3 39 3 4 1 3 40
3 38 3 40 3 39
3 38 3 4013 39
3 38,3 40 3 39
3 39341341
3 40342342

d.
3 47
3 46
3 46
3 45
3 40
3 38
3 36
3 36
3 36
3 37
3 39

d.

3 52
3 52
3 52
3 50
3 44
3 41
3 39
3 39
3 39
3 40
3 42

4
P . M.

d.

3 52
3 51
3 51
3 49
3 43
3 39
3 38
3 38
3 38
3 39
3 41

Sat.

Ju n eflellvery.......... . . . . . o . 23%
July d elivery................... o. 23%

M on.

22%
23

Tues.

22%
22%

Wed.

___
22%

T h n rs.

22
22%

F ri

22
22%

T h e f o llo w in g a r e th e c lo s in g q u o ta tio n s :
FLOUR.

Fine.................. bbl. $1 60® 2 10 i P atent, w inter............... $3 70® S4 00
S u p erfin e................... 170® 2 20 ! City m ills ex tra s.......
4 00
Extra, N o. 2 ............ . 2 20® 2 50 i B ye flour, superfine.. 2 45® 2 90
E x tra.N o. 1 . . . ....... . 2 50® 2 85 |Buokwlieat f lo u r .....
....
d e a r s . . . . . . . . . . . . . . . . 2 55® 3 25 j Corn m eal—
Straights.................... 3 30® 3 55 , W estern, &o............ 2 00® 2 10
Patent, sprin g.......... 3 60® 4 00 I B randyw ine............
2 15
[W heat flour in saoks sells at prices below those fo r barrels.]
GRAIN.
W h e a to.
o.
Corn, p er bush—
o.
o
Spring, p er b u sh .. 64 ® 70
W est’n m ix e d ....— 3 2 % ® 3 6
Red w inter No. 2 .. 7 0 % » 72%
No. 2 m ixed........... 3 3 4 1 ® 3 5 %
Red w in ter............ 65 ® 73
W estern y e llo w ... 3 4 a 3 6 %
W hite...................... __®
__ W estern W hite___ 3 5 ® 3 7
Oats—M ixed, per bu. 21 © 24
R yeW hite....................... 22 ® 28
Western, p er hush. 4 2 ® 4 3
No. 2 m ix ed .......... 22 %® 23%
State and J e rse y .. 4 3 ® 4 4
No. 2 w h ite ............ 24% a 25% B arley—W estern .... 3 8 ® 41
Feeding................... 3 4 % ® 3 7 %

THE CHEONICLE,

J une 13, 1896.]
A g r ic u l t u r a l D e p a r t m e n t ' s R e p o r t

on

C e r e a l s , & c. —

The report of the Department o f Agriculture, showing the
condition o f the cereal crops on June 1, was issued on the
10th irssr,, and is as follows :

1105

The value of the New York exports for the year to date has
been $4,460,572 in 1896 aaainst $3,869,758 in 1895.
The best feature in the market for brown goods has been
an improved demand from exporters. Export grades of
sheetings and drills of good repute are scarce and prices
ruled decidedly firm, being in this respect in strong contrast
to others with a market confined to a home demand, the
latter being in dull demand and mostly tending in favor of
buyers in both heavy and light-weight coarse yarn goods,
The looked-for reductions in prices of bleached cottons have
not- been made yet hut it is believed that they can hardly be
delayed beyond another week, and meanwhile bu-mess continufs on quite a limited scale. The demand for wide
sheetings is moderate
and there has
been little
doing
in
cotton
flannels
and
blankets,
with
prices unaltered. Denims are inactive but steady; other
coarse colored cottons slow and easy' to buy. Kid-finished
cambrics slow and irregular. Prints in seasonable fancies
and other regular lines are dull and easily bought. Some
business in new prints for fall reported, but no definite prices
made yet. Staple ginghams have sold well at lately-reduced
prices, but dress styles are practically ignoied. The week
closes with small [sales of print cloths, extras, at 2 7-16c., a de­
cline of l-16c, from last week. This is as low a price as sales
of extras have ever been recorded at. Odd goods are weak.

Acrem/e <-■! Wheot.—Percentage? of areas harvested last year have
ijem obtained from a areatly enlarged list or correspondents,inquirit-s
being addressed lu particular to 15,Ot 0 ol the principal millers
through' ut the eouutry, to whose careful comparison of present
acreage with that of previous years many corrections of the prelim­
inary estimate ot December last are due. There has been s me
diminution of winter-wheat ares, owing to the total failure of the
- jo sect ions, the ground being plowed up for spring wheat
or oats. These returns, reduced to acres, tire for the ptincipal
winter States : California 3,otl,f-00, Kansas 2,391.000, Ohio 2 ,1 2 2 ,000. Indiana f,»# 4 .g# . Illinois 1.906,1 00, Missouri 1,418,000,
P e n n sth anm l,S3»,<fO. Michigan 1,202,0C0; total winter area
22.794.t00. Spring States: Minnesota 3,200,000, North Dakota
2,53o,000, South Dakota 2.4«3,00i , Neb aska 1,224.000; total spring
area 11,845,000. from Minnesota the Department's agent reports:
"M uch larger area t nan in 139ft. partly owing to the plowing up of
fields of Win er wheat anti rye. but pticeipally to the fact that farmers
increased sprit)g-wheat area at the expense ot other crops, eoMideriog
it a better Investment than oats, rye or com .
Since the May report the eonditiooj of winter wheat has fallen, 4-8
points, that of June being 77-9, against 82*7 on May 1.
The netcentagee by Siatt?s ar*-: New Hampshire 89, Vermont 82,
New York 71. New Jersey 7- , Pennsylvania 70. Delaware SO. Mary­
land eO, Virgil,in 1 8 , North Carolina S". South Carolina 89, Georgia
97. Alaban a 94. Mississippi 102. Texas 80, Arkansas 8ft, Tent eases 84
West Virginia 05, Kentucky 65. Ohio 5o, Michigan 73, Indiana 70.
IHlcoi- -7 . Wi». orndn 81, Minnesota 86, Iowa 10<>, Missouri 80, Kan­
sas 85, Nebraska i o3. Montana 96, Colorado 92, New Mexico 100, Ar­
1896.
1895.
1894.
1893.
izona 100, Utah 97, Idaho 90, Washington 98, Oregon 9.-. California
8tocte of Print OlolKt—
June 6.
Jime 8, June 9. June 10.
98, Oklahoma 66.
At Providence, 61 squares. 295,000 167,000 280,000
8 5,000
the w a s icon of spring wheat indicates a prospective yield that At Fail River, 64 squares.. 937,000
35,000 497,000 / , , ,nf>
closely approximates a foil or normal crop, the average for the At Fall River, odd sizes.... 546,000
81,000 161,0001 ia .ouu
country being 99 9 ner cent. The average fur the year lMJft was 97 8.
The a r e 'ages by States areas follow s: Maine too. New llntupahire
Total stock(pleoeal....1,778,000 283,000 933,000
99,000
92, Vermont 64, New York 7ft, Michigan 94, Illinois 99, Wisconsin
W oolf ,:; '-‘OOd s .— A n y little improvement is a comfort in
l t o , Minnesota v*2, Iowa It 3, Kansas 91, Nebraska lo o , fiotithDakota
111. North Dakota lo g , Montana 95, Wyoming 92, Colorado 113, this department, and the most has therefore been made of a
New Mexico 73, Utah 94, Idaho 91. Washington 86, Oregon 95, slight expansion in the re-order demand for heavy-weight
California 95.
The per, ,-r.t;iz>. of the combined w inter and spring-wheat acreage is woolens for men’s wear. This improvement has not reached
worsteds, eilber plain or fancy lines, and has been mostly con­
101 7 and the condition of all wheat Is 87 tt.
The preliminary report places the acreage of oats at 98"5 per cent fined to fancy woolens of the cheviot order, and in these
o f bt*t year'# ttea, and the general condition at 98-8, against 84-3 mostly in low and medium grade goods. Taken all in all the
same date 1695,
The acreage of rye D 96-9 of last yeat’ -. the condition of same bc-ing market is still dull and far from what sellers would like it to
be. Low grade all-wool goods and cotton-warp and union
8V2, against 85-7 Iaat June.
The acreage of barley i* 89-9 per cent of the area o f 1895 and its cussitneree have been opened for next spring in one or two
condition stand* at 98 per cent.
The Weather Bureau report- for the week ced ing June 8 : Cotton houses but have attracted little attention so far. There has
and earn it Hired bvdrottcht in Texas and portlor* o f Louisiana, tint been no improvement in the demand for overcoatings or
tihrso crop* r« good condition ol-ewhert*. except for excessive rains lit cloakings, business being small and at irregular prices.
the Lower .Ohio and Central M:,*t-.ipp! valley*, wittolihave prevented Flannels and blankets are inactive but sieadv. Reorders for
com cultivation as well as retard*,! w be-t h-irvest. Insect injuries
reported in the pa -tern cotton area. Winter-wheat, harvest favorably dress goods are indifferent in both plain and fancy lines.
a
M. : .i- AI■>■■’ - lap-,. 8>: c l u d e tcnip. fat,HP still
F o r e ig n D ry' G oods , —There has been an inactive market
below average In the Pacific and Rocky Mountain regions, hut
decidedly above throughout the Mississippi Vailev and generally oa-t- for foreign merchandise for quick consumption, and much
wnrd.
i rainfall exco-sive in Tipper Mi-siffsippi and Missouri, irregularity in prices. Business for fall progresses slowly in
and westward, hut generally iHdow Id the Middle and South Atlantic all departments, but there has been no material change in
and Gnif regions, Western Te va* suffering most severely.
From Barbp*- a prevailing: lack o f tain: 1* reported, with injury to prices of next season’s goods.
.
: o:ol ,l:o Im p o rta tio n * am i W ai-ehonee W itU d ra w a ls o f D ry G oods.

Injury in France, bur. wheat ,--p.-pi.»Hv ahumlant

Prospects average

m Atutria-Hungary, Routttaeti and Bulgaria, Exceptionally good in
Germany and Ku*sta.
V T F or other table* o v o a llv given here see » a « e 107 1,

THE

DRY

GOODS

TRADE.

New Y ork , Friday , P. M., June 12, 1896.
Buyers in considerable numbers were attracted to the mar­
ket m recent weeks by important auction soles, at,d with
nothing; of that nature this week the attendance has been de­
cidedly poor. There is to the buyers’ minds no feature in the
present situation calculated to cause them uneasiness in de­
laying operations, not even current curtailment of produc­
tion, whilst there are inducements in the shape of political
uncertainty, drooping markets for raw material and a lack of
firmness on the part of the majority of sellers o f merchandise
sufficient to encourage them m adherence to a conservative
policy. Any changes of prices made are in their favor, men’s
worsteds one week, prims another, ginghams another, and
now print cloths, with a sagging tendency where quotations
are not actually reduced, Titus business is betDg conducted
on as small a icale as compatible with positive requirements
in both cotton and woolen goods. Political influences are
probably the moat wtigbty, and it will be some relief to tbe
market when the proceedings at St. Louts next week puts an
end one way or the other to the prevailing uncertainty, for
there t* an almost contemptuous ignoring of what may be
done later on at Chicago.
Dom estic Co tto n G oods —The exports of cotton goods
from this port for the week ending June 8 were 2,346
packages, valued at $113,311, their destination being to the
points -specified in the tables below: _____ ___________ _ _ _ _ _
N *•« Vo ax xo J e s s 8,
Great Britain........ ..............
Other European.............
China ................................
India,.............. ..........
Arabia.,.......... ........ .......... i
A frloa.. . . . . . . . . . . . . . I
Weet rndiea...................... . . .
Mtfxteo........
Contra! America...................
Bonth America..
O fetter Cot*at fie*.. . . . . . . . . . . .

1895.

1898.
Week, Since Jan*
1,035
1,345
44,039
3,007
7,970
8.175
5,678
1.353
3,825
20,493
1,871

72
65
25
500
SO
828
251
71
39
512
90

98,796
14,323

T o ta l.......... ..... ...........
2,346
China, flu v^iieoMYer’'. . ...
....
"

113,119
T o t a l..,,... ...................
* From New England mill points direct.

Week, Since Jan. 1.
90
35
578
l
14
275
45
403
3,282
169
4,892
—*4,892

2,695
1.337
19.876
3,333
13,120
3,677
8,146
1,425
5,0X6
25,717
2,790
87,132
9,700
96,832

The importations and warehouse withdrawals of dry good
at this port for the week ending June 11, 1896, and since
January 1, 1896, and for the corresponding periods of last
year are as follows:

THE CHRONICLE.

1106

S t a t e and C ity D j ^ a k w n t .
TERMS OF SUBSCmFriON^
T he I nvestors’ Supplement will be furnished
without extra charge to every annual subscriber of the
Commercial an d F in a n c ia l Chronicle .
T he State and City Supplement will also be fur­
nished without extra charge to every subscriber of the
Chronicle .
T he Street R a ilw a y Supplement will likewise
be furnished without extra charge to every subscriber
of the Chronicle .
T he Quotation Supplement, issued monthly, will
also be furnished without extra charge to every sub­
scriber of the C hronicle .
TERMS for the Chronicle with the four Supple­
ments above named are Ten ollars within the United
States and Twelve Dollars i , Europe, which in both
cases includes postage.
T e r m s o f A d v e r t i s i n g — P e r in c h s p a c e .)
O n e t im e ............................. $3 50 i Tnr
Months (13 tim e s )..$25 00
One Month
(4 tim es).- 11 00 Six onths
(26 tim es).. 43 00
Two Months
(8 tim es).. 18 00 |Twelve Months (52 tim es).. 58 00
(The above terms for one month and to w a r d are for standing ca rd s.

T h e p u r p o s e o f th is S ta te a n d C ity D e p a r t m e n t

is to furnish out subscribers with a weekly addition to ana
continu uion tf the S t a t e a n d C i t y S u p p l e m e n t , In other
words, with the new (acts we shall give, Che amplifications
and c irrections we snail puoiisb, and the municipal laws w*
shall analyze in tne “ State and City Department,” we expect
to bring down weekly tbe information contained in the
S t a t e a n d C i t y S u p p l e m e n t to as near the current date as
possible. Hence every Subscriber will at ail times possess a
complete and fresh cyclopaedia of information respecting
Municipal Debts.
We have re­
ceived through the week the following notices of bondsrecently negotiated and bonds off ere i aid to be offered for
sale.
Allegheny, Pa.—B o n d O ffe r in g . —Proposals will be received
until 3 o’clock P. m. June 16, 1896, by James Brown, City
Comptroller, for the purchase of §400,000 of 4 per cent regis­
tered water bonds, The securities are to be dated June 1,
1896, interest will he payabl- semi-annually on June 1 and
Dec. 1 at the office of the City Comptroller, or mailed by
check to the holder thereof wherever purchaser may desire,
and the principal will mature June 1, 1936. The bonds must
be taken up within thirty days after the award. The last sale
of bonds by this city took place on Oct. 3, 1895, when a serial
loan of §650,000 was awarded to Messrs. Whann & Schlesinger, of New York, at 106 045.
The city’s total bonded debt on May 29, 1893, was $4,983,500, including a water d^bt of §2,131,000 ; sinking fund, $661,970 75 ; net debt, $4,321,529 25. The assessed valuation is
$79,843,625; actual valuation, $85,000,000. The estimated
value of city property is §8,000,000; value of water depart­
ment property, §3,439,333 The estimated population ..t
present is 120'000.
B o n d P r o p o s a ls a n d N e g o tia tio n s .

The o fficia l a d v e r tis e m e n t o f th e a b o v e -m e n tio n e d
b e f o u n d elsew h ere i n th is D e p a r t m e n t .

s a le w ill

Anaheim, Cal.—B o n d s P r o p o s e d . —Water-wot ks and elec­
tric-light bonds of Anaheim to the amount of §18,000 have
bren proposed.
Arlington, Mass.—B ond. O ffe r in g . —Proposals will be re­
ceived until 5 o’clock P. h ., June 19. 1896, for the purchase of
$50,000 of sewer bonds. The securities will bear interest at
the rate of 4 per cent and run 40 years.
Austin County, Tex.—B o n d O ffe r in g — Proposals will be
received until June 15, 1896, by S. R. Blake. County Judge,
for the purchase of $18,000 of 5 per cent jail bonds.
Braddoek, Pa.—B o n d s A u t h o r iz e d . —Notwithstanding the
fact that $75,000 of school bondB of Braddoek were defeated
at a recent election by a vote of 287 to 219. the School Board
have determined to issue a loan of §50,000. This, it is said,
can be done on the assessed valuation.
Camden, N. 3 .— B o n d O ffe r in g . —Prooosals will be r< ceived
until 8 o’clock P. M June 22, 1896, by William H. Tice, Esq ,
tAamnan of the Finance Committee of the City Council, for

[ VOL, t i l l .

t h e p u r c h a s e o f §200,000 o f 4 p e r c e n t w a t e r - v o r k s b o n d s .
T h e se c u r itie s w ill be d a e d J u n e 1. 1896, in te re st w ill be p a y ­
ab le s e m i-a n n u a lly o n J u n e l a n d D e c e m b e r 1, a n d t h e p rin ­
c ip a l w ill m a tu re J u n e 1, 1926. T h e se b o n d s a re p a r t o f an
a u th o r iz e d issu e o f 8600,000.
< a r b u n d a le , I’ a .— B o n d s A u t h o r i z e d .— I t is r e p o r t e d th a t
w a t e r -w o r t s b o n d s o f C a r b o n d a le h a v e bePn a u th o riz e d .
C le b u r n e , T e x . — B o n d s A u t h o r i z e d .— T h is c it y w ill issu e
b o n d s t o th e a m o u n t o f §21,000.
‘ ■ allege P o i n t , N. Y .— B o n d B a le.— O n J u n e 1. 1896, th e
v illa g e o f C o lle g e P o in t so ld §11.000 o f 4 p e r c e n t 2 0 -y ea r r e ­
fu n d in g w a t e r -w o r k s b o n d s t o M essrs. D a n ie l A . M o ra n &
C o. at 103-173,
S e v e n b id s in a ll w e r e r e c e iv e d f o r th e loa n .
T h e se c u r itie s a re issu ed to r e fu u d o ld 7 p e r c e n t b o n d s w h ic h
m a tu r e J u ly 1, 1896.
C o lu m b u s , O a .— B o n d E l e c t i o n .— A n e le c tio n w ill b e h e l d
in C o lu m b u s o n S ep t. 14, 1896, t o v o te o n th e q u e s tio n o f issu ­
in g $100,000 o f c o u r t h o u se a n d r e fu n d in g b o n d s .
I h i b n q t e , I o w a . — B o n d O ffe r in g .— P ro p o s a ls w i l l b e r e ­
c e iv e d u n til 4 o ’ cl< c k p. m t o -d a y by th e F in a n c e C o m m it te e
fo r th e p u r c h a s e o f §21,000 o f 5 p e r c e n t im p r o v e m e n t b o n d s .
In te r e st w ill be p a y a b le s e m i-a n n u a lly a n d th e p r in c ip a l w ill
m a tu r e in 7 y e a r s, w ith a n o p tio n o f c a ll a t a n y t im e .
T h e c i t y ’s b o n d e d d e b t is a t p re s e n t §693.273 ; flo a tin g d e b t ,
$220,988 74. Its assessed v a lu a t io n is §20,413,235.
E ast P i t t s b u r g S c h o o l D i s t r ic t , P a — B o n d O ffe r in g . —
P ro p o sa ls w ill be r e e tiv e d u n til 6 o ’c l '.c k p m J u n e 19. 1896,
by C h a rles A . S te w a r t, S e c r e t a r y , f o r t h e p u rch a se o f §23,000
o f 5 p e r c e n t c o u p o n s c h o o l b o n d s . I n t e r e s t w ill b e p a y a b le
se m i a n n u a lly , ai d th e p r in c ip a l w ill m a tu r e a t th e ra te o f
$1,000 y e a r ly , b e g in n in g in 1898.
E k t o n , .lid .— B o n d S a l e .— I t is reported that this m u n i c ­
ipality has sold §10,000 o f 3Chool bonds for §10,600.
E - S ix C o u n ty , N. J — B o n d O ffe r in g .— P r o p o s a ls w ill b e
r e ce iv e d u n til 3 o ’ c lo c k P. M , J u n e 16, 1896, b y t h e F in a n c e
C o m m it tr e o f

th e

B oard

o f C h osen

F r e e h o ld e r s o f

E ssex

C o u n ty f o r th e p u r c h a s e o f §1,5 00.0 00 o f p a r k b o n d s . T h e
s e c u r it i-s w ill
d a te d A u g u st 1. 189$, in tertst, w ill b e p a y ­
ab le s e m i-a n n u a lly a n d t b e p r in c ip a l w ill
o f §300,000 e v e r y
1, 1936. b o t h

m a tu r e at th e ra te

fiv e y e a r s fr o m A u g u s t 1, 1916, to A u g u s t

p r in c ip a l a n d

in te r e s t to

b e p a y a b le in g o l d .

T h e b o n d s w ill be c o u p o n , b u t m a y b e r e g is te r e d o r e x c h a n g e d
to re g is te r e d b o n d s , at th e o p tio n o f th e h o ld e r .
s h o u ld be f o r b o n d s b e a r in g
c e n t o r fo r 4 p er c e n t b o n d s .

P r o p o s a ls

in te r e s t a t th e r a te o f 3 -65 p e r
T h e se se c u r itie s a re p a r t o f a n

a u th o r iz e d is s u --o f $ 2 .5 0 0 ,0 0 0 ,8 1 ,0 0 0 ,0 0 0 o f th e a m aunt h a v ­
in g b e e n issued A u g u s t 1, 1895.
T h e b o n d e d d e b t o f th e c o u n t y is a t p re s e n t $1,767,453.

Its

assessed v a lu a tio n is $181,665,000 a n d th e p o p u la t io n , a c c o r d ­
in g to lo c a l fig u r e s is 312,000.
F u r t h e r p a r t i c u l a r s r e g a r d in g

th e a b o v e -m e n t io n e d

s a le

w ill be f o u n d in th e o ffic ia l a d v e r t is e m e n t e ls ew h e re i n th is
D e p a r tm e n t.
U r a n t C o n ■i y , N. H .— B o n d s A u t h o r i z e d .— B o n d s o f t h e
c o u n ty h a v e b e e n a u th o riz e d .
H i g h l a n d D a rk , M ic h .— B o n d O ffe r in g — P r o p o s a ls w ill b e
r e c e iv e d u n til n o o n J u n e 15, 1896, o y E . K e t c h a m , V illa g e
C le r k , to r th e p u r c h a s e o f S23.0U0 o f 5 p er c e n t w a t e r b on d s.
I n t e r e s t w ill be p a y a b le s e m i-a n n u a lly a n d th e p r in c ip a l w i l l
m a tu r e in 25 y e a r s , th e b o n d s to b e p a y a b le in g o ld in th e
C ity o f N e w Y o r k .
H u k a ti, Mi a n — B o n d s A u t h o r i z e d — T b e p e o p le o f th is
m u m c ip a 'it y h i v e v o t e d in f a v o r o f is s u in g $5,000 o f w a t e r ­
w orks bon ds.
H o u s t o n , T e x . —B o n d O ffe r in g .— P r o p r s a ls w ill he r e c e iv e d
u n til n o o n J u n e 18, 1896, fo r th e p u r c h a s e o f $39,000 o f 5 p e r
ce n t g o ld tir.d g e b o n d s o f th e c i t y o f H o u s to n .

T h e s e c u r i­

ties are d a t e d M ay 1, 1896, a n d m a tu r e M a y 1, 1936.
A n a d v e r tis e m e n t o f th is lo a n w ill be f o u n d els ew h e re i n
th is D e p a r tm e n t.
H u tto S c h o o l D is tr ic t, T e x .— B on d s
A u th o r iz e d — A n
e le c tio n h e ld M a y 30, 1896, o n is s u in g $7,000 o f sell o u t h o u s e
b on d s, re su lte d in fa v o r o f th e p r o p o s it io n b y a v o t e o f 90 to
32. T h e s e c u r itie s w ill b e o ffe re d fo r sa le as s o o n as p o s s ib le .
T h e y w ill be c o u p o n b o n d s , h e a rin g in te r e st a t th e ra te o f 6
p er c e n t , a n d r u n n in g t w e n t y y e a rs.
T h e s c h o o l d is tr ic t c o v e r s
s q u a re m ile s , a n d its a ssessed
v a lu a tio n is a b o u t $300,000; a c t u a l v a lu a tio n n o t less th a n
$750,000.
K in g s t o u , N. Y .— B o n d S a le .— O n J u n e 11, 1898, th e c i t y
o f K ir g s to n so ld $600,000 o f 3J^ per c e n t w a t e r -w o r k s b o n d s
to S . D . C o y k e n d a ll a t lOO'Ol a n d a c c r u e d in te r e s t. T h e
o n ly o th e r bid r e c e iv e d w a s a n o ff e r o f p a r f r o m Is a a c W .
S h erill.
In te r e s t o n th e se c u r itie s w ill be p a y a b le s e m i­
a n n u a lly , in g o ld , a t t h e F a rm e rs’ L o a n & T ru st C o m p a n y o f
N ew Y o r k C ity , a n d t h e p rin c ip a l w ill m a tu r e at th e rate o f
§24,000 y e a r ly fr o m 1912 to 1936, b o th in c lu s iv e .
A c c o r d in g to th e o ffic ia l sta te m e n t th e a ssessed v a lu a tio n
o f th e c it y is a t p resent §12,399,120 a n d th e to ta l d e b t is $ 3 6 8 ,200. “ T h e p resen t n e t r e v e n u e fr o m w a te r e x c e e d s th e in t e r ­
est o n a ll b o n d s to be issu ed f o r w a te r p u r p o s e s .”

June 13

1896 |

1107

THE CHRONICLE.

L O A N S—
-—-Interest— . ,------------P rincipal,---------- .
K it t g o n i o i i n t y , M iu n — B id s R e je c te d .— G . A . G u n n a rs o n P a te P a y a b le.
W h e n D u e . O u tsta iu P g .
A u d it o r , rep r is m th>- CHRO ICLK iiia t tjll b id s r e c e iv e d fo r NAME AND PURPOSE.
Defense
redemption
M
s
.
(reg.)
3-65 J & J Jan. 1, 1899 $3,000,000
b o n d s re c e nt ly o ffe r e d fo r sa le uy th is c o u n t y w e r e r e je c t e d
Exchange loan, 18SG___ “
J & J Jan. 1,'96&’0 1,898,829
3
b y th e B oa rd o f C o m m is e io o e is .
do
1 8 8 9 .... “
;T & .1 Jan. 1, 1903 3,079,400
3
706,757
do
1
8
9
1
....
J & J July 1, 1903
“
3
L a k e t 'o u n i y , O h io .— B o n d O ffe r in g .— P ro jo -sa G w ifi h .
IN T E R E S T is payable at the Merchants’ National Bank, Baltimore
r e c e iv e d u n til n o o n J u n e 33, 1896, b y ih e B o a r d o f 0 u i.ty
C o m m is s io n e r s f o r th e p u r c h a s e o f $35,000 o " 5 p er c e n t c o u ­
>111« a il n ee. >Vis.— B o n d C a ll.—- A c t l l has been issu ed by
p on b r id g e b o o ls. T h e se c u r itie s w ill b e d a te d J u ly 1, 1896, th e C o m m is s io n e r s o f P u b lic D ; b , o f M lw a u k e e fo r th e p a y ­
in te re st w ill be p a y a b le s e m i-a n n u a lly o n J a n u a r y 1 a n d J u ly m e n t o f b o n d s as f o l l o w s :
1, an d th e p r in c io a l w ill m a tu r e at th e ra te o f $1,500 y e a r ly
General City Bonds o f 1371--73.—Nos. 9, 32, 7 2 ,3 1 , 55, 59, 135, 139,
fr o m J u ly 1, 1897, t o Ju ly 1, 1906; th e n a th e ra te o f $3,000 115. 167, 200, 211 and 239.
General City Bonds o f 1S85.—Nos. 409, 478 and 483.
y e a r ly fr o m J u ly 1, 1907, to J u lv 1, 1916: b o t h p r in c ip a l a n d
General City Bonds o f 1 ^ 6 . —Nos. 594 and 5s6.
in terest to be p a y a b le a t th e o ffic e o f th e C o u n ty T re a su re r.
Registered Water Bonds o f 1872.— N os. 11, 2 6 . 4 8 , 5 5 , 28 and 19.
T h e b o o d s w ill b e d e liv e r e d J u ly 1, 1896.
W ater Bouds of 18 7 2 . -N o s . 379, 69. 650, 88. 19, 110. 37. 710, 52S,
726, 630, 695. 32. 247, 669. 769, 39, 686, 614, 683, 204 and 1'22.
L a a r e n g , S . C.— B o n d s A u t h o r iz e d .— I m p r o v e m e n t b o n d s
W ater Bonds o f 1883.—Nos. 40. 47, 3 0 . T28, 146, 148 aud 1 9.
o f L a u r e n s t o th e a m o u n t o f $3),UtiO n a v e b e e n v o te d , th e lo a n
Water Bonds of 1 8 8 6 ,-N os. 231, 178, 235, 313, 311, 351, 359, 366,
2
0
". 255. 256, 303 and 369.
t o b ea r in te re st a t th e ra te o f 6 p e r c e n t .
Water Bonds o f 1887.—Nos. 449, 4 7 0 ,4 9 3 , 497, 509, 462, 519 and
M a r lb o r o u g h , M as. — B o n d a n d N o te S a fe .— I t is r e p o r te d 525.
Bridge Bonds of 1883.—Nos. 36. 22. 39 and 66.
th a t M a r lb o r o u g h h i s so ld $4,000 o f 4 p e r c e n t 1 8 h j-y e a r
Water-works Refunding Bonds of 1833.—Nos. 4,112, 11, 44, 71, 127
s e w e r b o n d s a t 101 793. a n I $5,000 o f 4 per c e n t n o te s, m a tu r ­
and 35.
in g a t th e ra te o f $1,000 y e a r ly fr o m 1897 to 1900, an d $3,000
In te r e st o n th e a b o v e -m e n tio n e d b o n d s w ill c e a s e J u n e 3 0 ,
in 1901, a t 100 790. B o th lo a n s w e r e a v ard s i to M essrs. E s1896.
ta b r o o k & C o .
M is s is s ip p i.— B o n d O ffe r in g .— P ro p o s a ls w ill b e r e c e iv e d
M a r y la n d .— B o n d S a te.— O n J u n e 11 $6 )0,000 o f 3 1.< p er
c e n t in san e a s y lu m a n d p e n itt n tia r y b o n d s o f th e S ta te o f u n til J u n e 20, 1896, b y A . Q. M a y , T rea su rer, fo r th e p u rch a se
o f $400,000 o r less o f M ississip p i S ta te c o u p o n b ou d s. T h e
M a ry la n d w e re a w a r d e d a s fo llo w s :
Sperry, Jones .It Co , Baltim ore. . . . . . ... .....................$538.000 at D 2-06 s e c u r itie s b ea r in te re st a t th e ra te o f 5 p e r c -n r, p a y a b le s e m i­
20,000 at 102-26 a n n u a lly in J a n u a r y a n d J u ly , a n d m a iu r e J u ly 1, 1906, w ith
Sperry, Jones Sc Co., B altim ore..............................
Sperry. Jones i Co., Baltim ore.....................................
20,000 nt 103-26
Maryland Savings Bank, Baltim ore............................. 10,000 at 103-50 an o p tio n o f c a ll a fte r fiv e y e a r s f r o m d a te. T h ey a re n o n
F. K. Norwood, B altim ore................. ...........................
12,00 1at I03 n6 la x a b le , a n d w ill be d e liv e r e d to th e p u rch a se rs o n o r a fte
T h e te w ,r e o t h e r bid s fr o m C in c in n a t i, N e w Y o r k , C m
J u ly 1, 1896.
c a g o a n d B a ltim o r e , a g g r e g a tin g $3,773,000, at p ric e s r a n g in g
A c c o r d in g tr»th e last a ssessm en t th e v a lu a tio n o f p ro p e r ty
fr o m 100 t o 101-41.
in th is S ta te is $177 313,169. T h e tota l d e b ’ , in c lu d in g th e
T h e s e c u r itie s w ill b e d a te d J u ly 1, 1896, in te re st w ill be n e w issu e m e n tio n e d a b o v e , is $3,641,201 84
p a y a b le se m i-a n n u a lly o n J a n u a r y 1 a n d J u ly 1, a n d the p r in ­
“ O f th is a m o u n t, e x c lu s iv e o f th e o r e s e o t $490,000 issue,
c ip a l w ill m a iu r e J u ly 1, 1 9 U , w ith a n o p t io n o f c a ll a fte r o n ly $815,600 is b o n d e d d e b t ; $850,649 73 o f this a m o u n t is
J u ly 1, 1906. T h e b o n d s w ill b e c o u p o n o r r e g is te r e d , as the d u e th e C h ic k a s a w s c h o o l fu n d an d $544,061 33 is d u e th e
p u r ch a s e r m a y d e sire , a n d th e y w ill be e x e m p t fr o m all S ta te , U n iv e r s ity o f M ississippi, a n d $312,150 is hel l Oy th e S ta te in
c o u n t y a n d m u n ic ip a l ta x e s. T h e d e b t o f th e S ta te a t p resen t b on d s to th e c r e d it o f th e la n d sc r ip t fu n d .
A ll o f th ese t i r e e
is as fo llo w s :
are tru st fu n d s .”

N E W LO AN S.
P R O P O S A LS

NEW LOANS.

PR O PO SALS.

for 81,iS8,iKM»’N4 of Three and OneS 1.500,000
Half Per Lent Gold Bonds and Stock E S S E X C O U N T Y , N E W
JE R SE Y,
of the City of New York.
P A R K RON DS.
K.X K I T T O KJJ. A I >M I M S T R A TO B tL Q I A ft D IA NS.
A N D 1 ITU KBS l lo L D iN O T K l ST K IN D S A R li
A U T H O R IZ E D BY AN A C T O # T H K LECD8D A T ! B E PA SS E D M AfU TI !♦.
T O IN V E S T
IN T H E S E BONDS.
S E A L E D P R O P O S A L S W I L L BB R E C E IV E D
by th e C om ptroller o f the • u j o f S e w Y ork, at hi*
ftllee. N o. 2*0 B roadw ay, in tt>« City o f N ew York,
until
T H U R S D A Y ,T H E 1«T H D A Y O P JU N E , 1HQ*.
at 2 o'cl-><’k P. ML. when UCmr will be publicly opened
fo r th e w h ole *it a part or the follow ! „ g
C o s p o o o r K m lit c n " ! B onds and S to ck o ilth e City o f
N «w Y ork, bearing Interval at th ree am i o n e h a lf per
ren t per annum , parable -e n d annu al!?, lo -w lf
>H i on*, delated Stock o f Dim City o f New
York fo r arrjulrirtrf Ih e land* know n as
St. J o h n s C em etery, in th e Ninth
W ard, f o r a *** as a pu blic park, the
principal payable Vow. 1, iv»ln.
260,1*0o OO C on solidated S tock o f th e City o f New
York, fo r constructing a bridge over
Ihe H arlem
at T hird A venu e,
th e prliM pal payable N ov. l. 191*.
2*3,094 SO C on*' ll’ lat««J Stuck o f the City o f New
Y ork, know n • < ' S«i|o4>lhou«.e Boiiilb,'’
the principal ftayabic Now. I. ICHi.
195,050 OO C onsolidated aKftCfc . . f the City ,,f New
f o r k ' f« »r n*'w gr..(upts and building*
ff*r th# r . . (!,<«•• o f th# f i t v of New
V'rfk. Uip prtncU'al parable Nor. 1.
isn ».
T h e pirtncipzl o f amt Ih e interest 1 »n the «abl B onds
In gold or,•Its of the 1 nit.-d
amt 6t'f*ck are pay at*
O talM 1 »f A m erica, o f the preeant •*Laodard o f weight
and tlme im * .
T h e 1[iropo«als zhou id ba e n d . - e*l lu a 94'aled on v«lope. ImioriMml '* I*r»»p.,«4i* for Bond* o f the Corpn.
ration •o t b e O t y o t v-pw York " am 1 then emdowiM to
a m m r>.I envelop** a. ......... It*, t! ie f otuptr ller or
th e t it r o f New Yo»•k. For full Information •••<*
ZL P. FITCH.
« I t j It. icord.
A SH
C lt# o f N ew r otk —r u uznre Department, ComptmlTar*»< fffice. Jam* 5 .

BONDS.
M a r i e t t a . O h i « , Im p ro v e m e n t................... 6 *
C h a r le v o i x , H l c h .. R ef u n d in g....................... 5 Hlr hm ood , I *»d., Funding ...............................
Dearb or n County. Ind.» Fundi ng.................
T e r r e H n n ir . In
Funding. .......................
Ric hmond. Ind.. Street Im p ro r e m e n t......
Mit ch ell . Ind,. *Iecir|c-Liuht ...................... ftYounwafovwn, Ohio, Im p ro v e m e n t................ -)*
ft I it If to n. Ohio. W a t e r . ..................................... *>•
Bond H i ll . Ohio. W a t e r .................................... AX e n ia . O h io, Wwndlng............................
fJqBA. Ohio. W a t e r .................................... . . .. IS*
. i ll d d l fl o w n , Ohio, W a t e r ...............................
Co ra lr an a . T e x n a , H e w e r................................. •}*
A at or la , Oregon, (field , W n t e r ----- ------AL a u r e l . Aid., st re e t Im p ro v e m e n t...............•»*
ro« BALI AT

R u d o l p h Kieybolte & Co.
R A X K K R 8 .I
C IN C IN N A T I, O.

T h e Board o f Choaen Freeholder* o f th e C ounty o f
K a n . New Jersey, was authorized to Issue bonds to
th e aggregate am ount o f l 2 JHX).0 0 o, pursuant t o the
provision k o f • hapter XC3. o f th e A cte o f 18^5.
which act has been approved by a v o te o f the people
• f said cou nty, fo r th e purpose o f establishing u sys­
tem o f parks and parkways fo r said cou n ty.
f l , 0 *s>.o*V' o f the authorized bonds was Issued
A ugu st 1. 1>*W». bearing interest at 8*66 per cen t, and
the proceed s applied to park purposes. It Is now
p rop osed t o Issue the rem ainder o f th e am ount
authorized.
T h ese bonds will be d a te d A ugust 1, 1803, payable
as fo l l o w s :
* 1 0 0 0 0 0 , A u g im t 1, 1 9 H i.
>*.1 0 0 , 0 0 0 . A u g u s t 1,
X 'O O .O u O , August 1. IBvMi.
s.iU O .IIIH ), A u u u s l 1. I O i l .

N E W LO ANS.
8 2 4 0 ,0 0 0 LOAN
C IT Y

O F

S P R IN G F IE L D ,M A S S 1
Proposals for a Temporary Loan,
C it y T r e a s u r e r ’ s O ffice ,
C it y HALL, June 11,1896.

^
>

The undersigned will receive sealed proposals
until Wednesday, June 17,1890, at 4 o’clock P. M.. as
follow s:
The rate of Interest at which bidders will discount
the City of Springfield’s note or notes for two hun­
dred and forty thousand dollars (3249.000), the note
or notes to bo dated June 20 .1890. and to become due
and payable November 6,1898. without grace. Dis­
count- to be figured for 139 days on the basis of 365
days In the year.
Said loan Is to be made in anticipation of the taxes
* 3 0 0 , 0 0 0 , Augunt I. 1 * 3 6 .
o f the present municipal year, in accordance with an
T h ey will n « o f th e d en om in a tion o f * 1 / 1 0 0 0 0 0 1 1 ; order passed bv the City Council February 3. 1^90,
will bear in terest, payable fa b H U tn u a lly ; will be and ape roved by the Mayor February 4 . 1 *W6 , and is
co u p o n bonds, with th e op tion o f th e holders to to be made subject to the approval o f the Committee
h a ve them registered o r exch a n ged t o registered on Finance. The right Is reserved to reject any and
bonds; will he executed by the co u n ty officers, and nil proposals.
th*» w h o le Issue duly co u n te rsig n e d ; principal and
All proposals will ho opened in the Mayor’s Office,
Interest parable In gold coin .
Wednesda*, June IT, 1*96. at 4 o'clock P. M.
T h e C nn ty o f E ssex has a popu lation o f 312,000'
Address proposals to the undersigned, endorsed
and an assesaed valuation o f #181,685,000, Its pres­ “ Proposals for Temporary Loan.”
ent Nwidwl ind eb ted n ess is $ 1 ,707,456.
E. T. TIFFT, City Treasurer,
The act under which the bunds are fssned requires
the annual levy o f a county t a x sufficient to meet
Springfield, Mass.
Interest and nrtnclpnl when due. A •■ounty tax f<ir
any purpose l» entitled to priority 'in pnyment over
local tuxes for municipal pnrpones.
Sc.ile<l proposal» will be receiv ed by the Finance
Committee of the Board of Cho-cn Freeholders, at
a meeting to bo held by said Finance Committee at
the Freeholder**’ room In the Court-house at New­
ark. N. J., on T u w li y June 10. 1806, a» three
fidork P. M.. which meeting will rem ain open until
3:.*I0 P. M. Proposals should i-u for said bonds at
3 05 per cent Interest rate, or at a 1 p. c. Interest rate.
REGISTERED OR COUPON,
Th»* purchaser to pay the interest accrued on said
bonds to the time of delivery.
Under the statute no bids can be received nt any
other time or place.
The Finance Committee reserves the right to re­
Legal Investment for New York
ject any and all proposals. If in Its Judgment the In­
terest of the county requires such action.
Savings Bants.
By order of the t innace Committee.
1). II. JO H N SO N .
___________________ Chairman.
Price and P a r ti c u la rs upop ap pl ica ti on.

•85 1 0 0 , 0 0 0

NEWARK, N. J.

4 p. c. W

C h i c a g o . I I I .. I m p r o v e m e n t ................................ lin
w her • a n , T e x a s , F u n d in g ................................. (is

Burlington, W in . , Sc hoo l................................. 5 *
W n l s e k a , I I I ., S c h o o l ..............................................

Muscatine, I o w a , Im p ro v e m e n t..................tt*
Hliullsburg, W I s . , W a t e r ................................. .>s
Fonda, I o w a , W a t e r ...........................................(is
A lt a , Io w a , W a t e r ..................
Be
6 i a t c o f 8 o u t h D a k o t a R e ve nu e....................tin

F O R HALE B Y

M ASON, LEW IS & CO .,
.11 S i n t - S t. ,
B O ST O N .

BANKERS,
171 L a S a l l e St..
CH ICAGO.

a te r B o n d s.

I arso n, Leach & Co.,
‘A W A L L

STREET.

SAFE INVESTMENTS.
SE N D F O R L IS T

City and Comity Bonds.
DIETZ, DENISON & PRIOR,
3H C O N G R E S S S T R E E T , - B O ST O N .
1 0 9 Superior Street, Cleveland, O.l

THE CHRONICLE.

1108

M o u n t V e r n o n , N . Y .— B o n d O f f e r i n g — P r o p o s a ls w ill b e
r e c e iv e d u n til 8 o ’c l o c k P. M. J u n e 18, 1896, b y th e B o a r d o f
E d u c a tii n , fo r th e p u r ch a s e o f $65,000 o f s c h o o l b o n d s . T h e
se c u r itie s w ill b e d a te d J u ly 1, 1896, in te r e s t, a t a ra te n o t to
e x c e e d 6 p e r c e n t , w ill be p a y a b le s e m i-a n n u a lly , a n d th e
p r in cip a l w i l l m a tu r e a t th e ra te o f $5,000 y e a r ly fr o m J u ly 1,
1918, to J u ly 1. 1930. B o th p r in c ip a l a n d in te r e s t w ill b e
p a y a b le at tlie o ffic e o f th e C ity T re a su r e r . T h e b o n d s w ill b e
d e liv e r e d J u ly 1, 1896.
N e w M e x i c o .— B o n d s A u t h o r i z e d — B o n d s t o th e a m o u n t o f
$155,000 h a v e b e e n a u th o r iz e d f o r v a r io u s p u r p o s e s.
N ew Y o rk

C i t y .— B o n d

O f f e r i n g .—P r o p o s a ls w i l l b e

re­

c e iv e d u n til 2 o ’c l o c k P. M. J u n e 18. 1896, b y C ity C o m p t r o lle r
A s h b e l P . F itc h f o r th e p u r ch a s e o f S I ,283,909 o f 3 }£ p e r c e n t
g o ld c o n s o lid a t e d s t o c k o f th e c i t y o f N e w Y o r k . T h e s e c u r itie s
w i l l b e e ith e r o o u p o n o r r e g is te r e d a n d a r e
lo w s :

LO AN S—

d e s c r ib e d as f o l ­

LO A N S—

W h en Due..

Cem etery B onds —

W h en D u e.
Sch o o l-H o u se B on ds—

B r id g e B onds—

Co l le g e B u il d in g B o n d s—

312S,g.,Jt&X, $554,565. N ov.l, 1916 3*28, g-.M&N, $283,694. N ov.l, 1914
$250,000. N ov.l, 1916

- ,g.,M&N, $195,050. Nov. 1,1914

3128

F o r f u r th e r p a r t i c u l a r s r e g a r d in g th ese s e c u r i ti e s see o ffic ia l
a d v e r tis e m e n t els ew h e re i n th is D e p a r t m e n t .
B o n d C a ll.— C o m p t r o lle r F it c h h a s issu e d n o t ic e t o th e h o l d ­
ers o f c e r ta in c i t y s t o c k s a n d b o n d s th a t th e ir h o ld in g s w ill b e
r e d e e m e d o n J u l y 2 a n d th a t t h e in te r e s t w ill c e a s e o n t h a t
d ate,

T h e to ta l a m o u n t to b e r e d e e m e d is a b o u t $3 ,00 0 ,0 0 0 .

T h e b o n d s d o n o t m a tu r e u n til M a y 1. 1926, b a t t h e y a re
o p tio n a l a fte r J u ly 1, 1896.

A l l th e

b o n d s to b e r e d e e m e d

b e a r 6 p e r c e n t in te r e st.
P a i n e s v i l l e , 0 .— B o n d s A u t h o r i z e d .— W a t e r -w o r k s b o n d s
t o th e a m o u n t o f $150,000 h a v e b e e n v o t e d .
P e n n s b n r g , P a . — B o n d E le c t i o n .— A v o t e w ill b e ta k e n o n
issu in g $21,000 o f w a t e r -w o r k s b o n d s .
P i q u a , O h io .— B o n d E l e c t i o n .— A v o t e w ill p r o b a b ly b e
ta k e n o n is s u in g $20,000 o f w a t e r -w o r k s i m p r o v e m e n t b o n d s .

____ NEW LOANS.

$ 2 3 ,0 0 0
RIPLEY,

(J u e e n s C o u n t y , N. Y .— B o n d O ffe r in g .— P r o p o s a ls w ill ber e c e iv e d u n til n o o n , J u n e 17, 1896, fo r th e p u r c h a s e o f $150,000 o f 4 p e r c e n t r o a d b on d s. In te r st w ill he p a y a b le s e m i­
a n n u a lly o n J a n u a r y 1 an d J u ly 1 a t th e o ffic e o f th e C o u n t y
T rea su rer, a n d th e p rin c ip a l w ill m a tu r e J u ly 1, 1916, b oth
p r in c ip a l an d in terest to b e p a y a b le in g o ld .
T h e b o n d e d in d e b te d n e s s o f th e c o u n t v d o r s n o t e x c e e d
$800,000 a n d th e e q u a l.z e d v a lu a tio n in 1895 w as $72,168,015.
R i p l e y , O h io .— B o n d

th e p u r ch a s e o f $23,000 o f 5 p e r c e n t w a t e r -w o r k s b o n d s .

a n o p t io n o f c a ll a ft e r 10 y e a r s f r o m d a te , b o th p r in c ip a l a n d
in te r e s t to b e p a y a b le a t th e M e rc h a n ts ’ N a tio n a l B a n k , C in ­
c in n a t i, O h io .
The o fficia l a d v e r tis e m e n t o f th is s a le w ill be f o u n d e ls ew h e re
i n th is D e p a r tm e n t.
R o c k p o r t S e p a r a t e S c h o o l D i s t r ic t , O h io .— R o n d O ffe r in g .
— P r o p o s a ls w ill be r e c e iv e d u n til 4 o ’c lo c k P. m . J u n e 22,
1896, b y J . C . A n d r e w s , C le r k o f th e B o a r d o f E d u c a t io n , f o r
th e p u r ch a se o f $5,000 o f 5 p e r c e n t s c h o o l b o n d s .
t h e s e c u r i­
ties w ill b e d a te d J u n e 22, 1896, in te r e s t w ill be p a y a b le s e m i­
a n n u a lly o n A p r il 1 a n d O c to b e r 1, a n d th e p r in c ip a l w ill m a ­
tu re a t th e r a te o f $1,000 y e a r ly fr o m O c to b e r 1, 1897, to O c t o ­
ber 1, 1901. B o th p r in c ip a l a n d in te r e s t w ill b e p a y a b le a t t h e
o ffice o f th e T rea su rer.
R y e U n io n F r e e S c h o o l D i s t r i c t N o. 3 , N. Y .— B o n d O ffer ­
i n g .— P ro p o s a ls w ill b e r e c e iv e d u n til J u n e 15, 1898. b y G e o r g e
E . J a r d in e , C h a irm a n o f t h e F in a n c e C o m m it te e , f o r th e p u r ­
c h a s e o f $6,000 o f s c h o o l d is tr ic t b o n d s . T h e s e c u r itie s w ill
b e d a ted J u ly I , 1896, in te r e st, a t th e lo w e s t ra te, w ill be p a y ­
a b le s e m i-a n n u a lly , a n d th e p r in c io a l w ill m anure a t th e r a te
o f $1,000 y e a r ly f r o m J u ly 1, 1897, t o J u l y 1. 1902, in c lu s iv e .
S t. L o u is , M o .— B o n d s P r o p o s e d .— G o v e r n o r S to n e o f M is­
so u ri has b e e n a sk e d b y M a y o r W a lb r id g a o f St. L o u is to c - l l
a n e x t r a session o f th e L e g is la tu r e t o f o r m u la t e a n a m e n d

NEW LOANS

H O U S T O N , T EXAS,
BONDS.

The City of Houston, Texas, will receive sealed
bids until noon of Thursday, June 1 8 ,1896, for the
purchase of 839,000 of forty-year 5 per cent gold
bonds, dated May 1, 1896, and duly approved by the
Attorney-General o f the State o f Texas. These
bonds are issued for the purpose o f erecting a bridge
within the city limits of Houston, rl exas, and each
hid for the purchase of said bonds must he accom­
panied by certified check or New York exchange, in
the sum o f 8 1 , 000, made payable to the order of
the Mayor. No bid for less than par and accrued
interest can be considered, and the right is reserved
to reject any and all bids.
H B . RICE, Mayor.
H o u s t o n , T « x a s , June 2 , 1896.

W ALL

NEW LOANS.

$ 4 0 0 ,0 0 0

$ 3 9 ,0 0 0

THE

STREET

The

s e c u r itie s w ill b e d a t e d J u ly 6, 1896, in te r e s t w ill b e p a y a b le
s e m i-a n n u a lly , a n d th e p r in c ip a l w ill m a tu r e in 30 y e a r s , w ith

JO U RN AL

gives- valuable Information daily on stocks and bond
tS a v e a r
Dow , J on es & Co., M Broad Street

BONDS

BONDS.

O f f ic e o f V i l l a g e Cl e r k ,
}
O f f ic e o f t h e C o m p t r o l l e r . >
R i p l e y , O h i o , June 1st, 1896. S
C i t y o f A l l e g h e n y . Ju n e 1. 1896. J
Sealed proposals will be received by the under­
SE A L E D PROPOSALS will be received at this
signed at his office in Ripley, Ohio, until 12 o’clock office until 3 P. M ., Tuesday, June 16, 189«i,forthe
noon of Monday, July 6 th, 1896, for the purchase of purchase o f the whole or any part o f FOUR H U N ­
R E D TH O U SAN D DOLLARS W A T E R BONDS
Forty-six bonds of said village, amounting in the ag­ D
of the City o f Allegheny, Pa., maturing in T H IR T Y
gregate to 823,000, and hearing date o f July 6 th, 1896. Y E A R S from the first day o f June, 1896, which will
Each bond will be for the sum o f Five Hundred be the date o f said bonds.
The above bonds will bear interest at the rate of
Dollars, and will hear interest at the rate o f Five per FOUR PE R CENT per annum. They will he regis­
cent per annum, payable semi-annually; interest tered and in denominations o f One Thousand
($1,000) dollars each. Interest payable semi-annually
and principal payable at the Merchants’ National on
the first days o f December and June in each year
Bank, Cincinnati, Ohio; and said bonds shall be pay­ at the office of the City Comptroller, in the City of
able in thirty years from date or at any time after Allegheny, Pa., or mailed by cheek to the registered
holder thereof, wherever purchaser may select.
he expiration of ten years from date, at the option
A check certified by any National Bank in the sum
of the Village. Said bonds are issued for the purpose of Ten Thousand Dollars, payable to the order of
o f paying the cost and expenses of constructing the City o f Allegheny, must accompany each pro­
posal. In case of award, said deposit will, at the
water-works in said Village and in accordance with a time of delivery of bonds, be credited on payment of
resolution of Council passed February 17th, 1896, and bonds purchased. Checks will be returned to un­
successful bidders. Purchaser must pay to the City
a popular vote o f the electors o f said Village, at an accrued interest on bonds to date of depositing
election held April 6 th, 1896, and an ordinance o f the money, and bonds must he taken up within thirty
days after the award.
Council o f said Village passed June 1st, 1896.
The above bonds will be awarded to the bidder
Said bonds will not be sold for less than their par whose proposal will be most favorable to the City,
value, and bidders must state gross amount they will hut the right is reserved by the Committee on
Finance to reject any or all bids not deemed for the
pay for same, including premium and accrued inter­ Interest
of the City.
est to date o f sale and receipt o f money.
The right
Parties desiring a first-class investment will find
this
a good opportunity.
s reserved by Council to reject any or all bids.
A ll proposals must be indorsed “ Proposals for
By order o f Council.
W . L. M A D D O X ,
City of Allegheny W ater Bonds.” and be addressed
to
JAM ES BRO W N,
Village Clerk.
City Comptroller.

B R ID G E

O ffer in g . —P r o p o s a ls w ill be r e c e iv e d

u n til n o o n , J u ly 6, 1896, b y W . L . M a d d o x , v illa g e c le r k , f o r

O H I O , C I T Y of A L L E G H E N Y M U N I C IP A L

5% Water-Works Bonds.

5%

[VOL. L X II.

W. N. Co er & Co.,
BANKERS.

MUNICIPAL BONDS.
34 NASSAU STREET

W. J. Hayes & Sons,
BANKERS,

DEALERS IN MUNICIPAL BONDS
Street Railway Bonds, and other high-grade in­
vestments.
BOSTON, MASS.,
Cleveland* Ohio*
7 Exchange Place.
3 1 1 -3 13 Superior 8t
Cable Address “ K E N N E T H ”

FOR INVESTMENT.
P A R T IC U L A R S

UPON

A P P L IC A T IO N *

M EM BER S OF T H E N E W Y O R K A N D BOSTON
STOCK EXCH ANGES.
D E A L E R S IN COM M ERCIAL P A PE R ,

Blake Brothers & Co.,
2S STA TE

S R E E T , B O ST O N .

5 NASSAU

S T ., N E W 4 0 B K

GOLD BONDS.
W e o w n a n d o ile r th e fo llo w in g
b o n d s , p a y a b le p r in c ip a l a n d in t e r e s t
in G O LD .
( i t y o f P a w t u c k e t , B . 1 ..............................5 s
C it y o f H o Iy o k e , M a s s ................................ 4 s
T o w n o f N e w p o r t , Y t .................................. 4 s
T o w n o f M e n d o n , Y t . .................................. 4 s
O ld C o l o n y K B ............................................... 4 s
C it y o f L o s A n g e l e s , C a l ........... 4 ^ s & 5 s
C i t y o f F r e s n o , C a l .................................... 5 s
C o u n t y o f P i e r c e , W a s h ..............................(is
C o u n t y o f B a n n o c k , I d a h o ....................... 6 s
C it y o f D a lle s . O r e .......................................6 s
C it y o f G r e a t F a l l s , M o n t ....................... 6 s
Send for full description and prices; also our Juno
list of high-grade bonds.

E. H. R O LLIN S & SO N S,
5 3 S T A T E S T ., B O S T O N , M A S S .

THE CHRONICLE.

JlNE 13, 1896.]

ment to the Constitution which will allow St. Louis to issue
more bonds, as money is needed to re-build the hospital, re­
model and extend the poorhouse, insane asylum, female hos­
pital, workhouse and bouse of refuge. This amendment will
have to be voted upon at the fall election.
Santa Ana, Cal.— Bond Election. —A vote will be taken in
July on issuing $23,000 of electric-light bonds.
Santa Fe County, N. M.— Bonds Authorized. —Bonds of
this county to the amount of $172,500 have been authorized.
Sea C lif f , N. T . — Bond Election.—A vote will be taken June
27 on issuing $50,000 of street improvement bonds.
Sharpsville, Pa.—Bond Election. —A vote was to have
been taken at Sharpsville June 6 on issuing $35,000 of water
works bonds, but we are notified by the City Treasurer that
the election has been postponed until June 26. The Treasurer
also writes that the proposition will probably be voted down.
S i l v e r City, N. H .— Bonds Authorized. —This city has been
authorized by the Legislature to issue $50,000 of bonds.
S o m e r v i l l e . Mass. —Bond Sale.— It is reported that this city
has sold $165,000 of 4 p. c. city loan bonds at 102 816 and $12,000
of water bonds at l02-038. Nine bids in all were received for the
bonds and they were awarded to Messrs. H. S. Homer & Co.
S p r l n y f l e l d , M a s s .— Temporary Loan.— City Treasurer E.
T. Tifft will receive proposals until June 17, 1896, at 4 o’clock
p. M., for a temporary loan of $240,000. The loan is to be
m a d e in anticipation of taxes for the present year. It will be
d a t e d June 20, 1896, and become due November 6, 1896, with­
out grace. Bidders are asked to name the rate of interest at
which they will discount the city’s notes for the amount.
77te City Treasurer's official advertisement, giving fu rth er

U t ie a , N. Y .— B o n d O ffe r in g .— J . A . C a n tw e ll, C ity C lerk ,
w ill sell a t p u b lic a u c t io n a t n o o n J u n e 15, 1896, $153,000 o f
a c a d e m y a n d s c h o o l b o n d s , p a y a b le in f r o m o n e to t w e n t y
y e a r s, $8,000 o f b r id g e b o n d s , p a y a b le in t w o an d th r e e y e a r s,
a n d $4,750 o f s c h o o l b o n d s , p a y a b le in o n e , t w o a n d th ree
y e a r s. T h e s e c u r itie s w ill a ll b e a r in terest a t th e ra te o f 4
p e r ce n t per annum .
W e s t C h ic a g o , 111.— B o n d S a le .— O n M a y 26, 1896, th e
t o w n o f W e s t C h ic a g o so ld $200,000 o f 5 per c e n t p a r k b o n d s
to th e L a m p r e c h t B ro s. C o m p a n y f o r a to ta l p r e m iu m o f
$4,510-75 a n d a c c r u e d in terest. T h e se cu ritie s a re d a te d J u ly
1, 1895, in te r e st w ill b e d a ted s e m i-a n n u a lly o n J a n u a r y t
an d J u ly 1 a t th e o ffic e o f the W e s t C h ic a g o P a r k C o m m is ­
sio n e rs a n d th e p r in c ip a l w ill m a tu r e J u ly 1, 1915, w it h o p ­
t io n o f c a ll a fte r J u ly 1, 1900. F o u r bid s w e r e r e c e iv e d f o r th e
lo a n as f o llo w s :
Bidders—
Premium.
The Lam precht Bros. Co., Cleveland.......................................... $4,510-75
Parson, Leach & Co.......................................................................... 2,260-00
The New Y ork Security & Trust Co............................................. 2,100 00
W. J. H ayes & S o n s ....................................................................... 1,698 00
T h e b o n d s a re c e r t ifie d b y t h e E q u ita b le T ru st C o. o f
C h ic a g o . T h e y a re a p a r t o f a $600,000 issu e, $250,000 o f
w h ic h w e r e r e c e n t ly so ld .
W in c h e s t e r , C o n n .— B o n d S a fe .— I t is r e p o r t e d th a t 4 p er
c e n t s e w e r b o n d s o f W in c h e s t e r to th e a m o u n t o f $20,000,
r u n n in g 27J£ a n d 2 8 }£ y e a rs, h a v e b een s o ld to N. W . H a rris
& C o . a t 107-195.
W in d h a m , C o n n .— B o n d S a l e .— O n J u n e 9, 1896, th e t o w n
o f W in d h a m s o ld $105,000 o f 4 p e r c e n t im p r o v e m e n t b o n d s
to E . H . G a y & C o ., o f B o sto n , a t 104-03 a n d a c c r u e d in terest.
In te re st o n tlifc lo a n is p a y a b le s e m i-a n n u a lly o i A p r il 1 an d
O c to b e r 1 at th e o ffic e o f th e T o w n T re a su r e r , a n d th e p r in ­
c ip a l w ill m a tu r e A p r il 1, 1925. S ix bid s w e r e r e c e iv e d f o r
th e b o n d s as f o llo w s :

particulars, will be fou n d elsewhere in this Department.
Sumter C o u n t y , S. C .—Bond Offering.— Proposals will

be
received until July 6,1896, for the purchase of $15,000 of 6 per
c e n t 1 0 -y e a r county bonds.
Temple, Texas— Bonds Authorized. —School bonds of this
municipality to the amount of $5,500 will be issued.

NEW LOANS.
M U N IC IP A L

BONDS.

E. C. Stanwood & Co.,
BANKERS,

121 Devonshire Street,
B O STO N .
L I S T S S E N T UPON A P P L I C A T I O N

#yoo,udo
STATE

OF

UTAH

Gold 4% 20-Year Bonds.
DATED JULY 1. lflOfl.
LEGAL FOR NEW YORK SAYINGS BANK9.
PRICE ON APPLICATION.
FOR SALE BY

ED W D. C. JONES CO.,
421 CHESTNUT STREET.
PHILADELPHIA.

80 BROADWAY.
NEW YORK.

WHANN&SCHLESINGER

•A W A L L

Bid.

E. H. Gay & C o .......................................................................................104 03
N. W. Harris & Co., New Y ork.......................................................... 103-699
Leland, Towle & Co., B oston..................................... ........................ 103 78
Street, W'ykes <fc Co., New Y ork ......................................................... 102-56
E. H. Rollins & Son, B oston .............................................................. 101-59
Horaoe 8. Hom er <&Co., B oston........................................... .......... 101-029

NEW LOANS.

MISCELLANEOUS.

W E OFFER A LARGE,
developed, equipped and pro­
Gold Mine, v ith excep­
C. H. White & Co., ducing
tional natural advantages for the
economical mining and milling
BANKERS,
with water sufficient to furnish
73 B R O A D W A Y . N E W Y O R K . power. The ore is free milling,
averaging $8 per ton over the
plates and can be mined and
B U Y AND SELL
milled for less than $1.50 per
ton. The mine has “ore in
Municipal and First Mortgage sight” to the net value of many
Railroad Bonds.
times the price of the property.
The title to the property is per­
fect and free from debt and as­
IISTS ON APPLICATION*
sures to investors large and
continuous returns.
Correspondence Invited.

M ills

&

DEALERS IN MUNICIPAL BONDS,

RBAVKERS.

10S

MUNICIPAL BONDS
BOUGHT AND 80LD.
D e vo n sh ir e

16 S la te

S tr e e t,

B o sto n ,

M a ss.

BONDS.

Bought and Sold.
YORK.

LA

SALLE

STREET,

CH ICAGO

MORTGAGE LOANS
TEXAS.
IN

Building,

GOVERNMENT a n d
M U N IC IP A L BONDS

NEW

Mining Department of

A. C. FROST & CO.,

B lanchard ,

M U N IC IP A L

HTIEEET,

1109

Int ere st 7 P e r Cent Net.

NO COMMISSIONS charged borrower or lender
until loans have proven good.

F R A N C IS S M IT H & C O .
SAN ANTONIO. T E X A S

S E C U R E BAN K V A U LT S

N W. HARRIS & CO.,
B A N K ER S

Blodget, Merritt & Co.,
B A N K E R S,

CHICAGO.

BOSTON.

15 W A L L 8 T I I E E T ,

PHILADELPHIA.
-

NKW Y O R K .

B enwell & E ver itt ,

16 Congress Street, Boston.

Schermerhorn Ru lldlng,

6 W A L L 1ST,

MUNICIPAL ISSUES IN THE STATES OF
STATE

C IT Y & R A IL R O A D

BONDS.

NFW YORK & NEW JERSEY
A SPECIALTY

GENUINE
W E L D E D C H R O M E S T E E L A N D IR O N
Round and Flat Burs and 5-ply Plates and Angles.
FOR SAFES, VAULTS, AC.
Cannot be Sawed, Cut or Drilled, and positively
Burglar-Proof.
CHROITIE S T E E L W O R K S ,
Kent Ave., Keap & Hooper Sts.,
Sole Man’f ’ers In the U. S. B R O O K L Y N , N. Y .

1110

THE CHRONICLE,
|*iiiimciaL

Insurance.

rvou

l x ii,

publications.

REDEMPTION

THE

OF

O F F IC E

OF

THB

FINANCIAL R EVIEW .
ANNUAL—1896.

General First Mortgage Bonds

A Year Book of Financial Information.
OF T H E

A TLA N TIC M U T U A L

2 7 5 P A G ICS.

NORTH ERN PACIFIC R A IL R O A D

CONTENTS.

COMPANY.
N otice is h ereb y priven th a t T h re e h u n dred and
fo r t y (340) o f th e G eneral First M ortg age B on d s o f
th e N orthern P a cific R ailroad C om pa n y w e re this
day draw n f o r th e Sinking F u n d, in a cco rd a n ce w ith
t h e requirem en ts A rticles e lev en and tw e lv e o f the
F irst M ortgage, num bered as fo llo w s , v iz :
10202
3704
17021
47940
260
31587
37555
10385
3832
1748-1
31712
37567
48004
605
3920
10704
17571
31732
617
37582
48037
4025
17631
11888
31779
37648
48210
606
11353
4121
17079
31881
37682
608
48313
4300
11373
17782
321S5
37708
48333
790
4384
11436
17816
32225
38258
807
48467
4410
11593
18228
812
32337
38452
484S1
4443
11825
854
18303
32588
38675
48514
1084
4478
11851
18518
32811
39037
48525
4487
12083
18576
1133
32834
39050
48567
4589
12124
1144
18577
32869
39106
48746
1159
4889
12143
18590
32931
39152
48762
12169
4964
1215
18911
33033
39206
48793
12182
4978
19037
33079
1272
39260
48927
5015
19382
1428
12257
33087
39418
48947
5188
1596
12361
19627
33301
39434
49137
5277
12529
19677
1698
33337
39672
49158
5501
12750
1607
20289
33600
39745
49202
33626
1612
5641' 12822
20443
39796
49955
5749
20680
1624
13005
33656
41571
50033
5781
13631
20869
34005
1631
41583
50529
5897
13897
1767
20955
34074
41904
50546
1795
5947
13955
21033
34099
42297
50576
6101
14*110
21057
1856
34210
42304
50583
14165
1912
6257
21727
34364
42473
50584
1914
6418
14185
34404
21838
42589
50585
6544
2007
14250
28524
34412
42630
50657
2028
6684
14274
29270
34477
43155
50661
2072
6970
14279
29517
34631
43252
51451
7218
2191
144S2
29554
34905
43350
51616
2201
7324
14837
29603
35022
43303
51821
14874
2308
7326
29761
35152
44073
51929
2382
7395
14914
30277
35158
44501
52385
7592
2470
15187
30290
35176
44509
52404
15212
2482
7824
30351
35206
44783
52446
7840
2623
15222
30395
35400
45096
52522
8072
2609
15486
30413
35436
45573
52719
15632
2845
8099
30670
36000
46279
52815
2938
8176
15640
30708
36026
46284
52863
2967
8356
15845
30829
36236
46285
52865
2991
8450
10333
31019
36339
46334
52886
3048
8466
16598
31086
36361
46745
52900
8469
8075
16641
31159
36458
40931
52984
3212
9049
16642
31298
36945
47002
53038
9349
3461
16066
31304
37154
47180
53162
9755
3523
16670
31314
37286
47480
53358
3566
9813
16832
31441
37441
47878
53406
3579 10109
17004
31461
A ll fu tu re in terest o f an y o f th e bon d s so desig­
nated ceases w ith th e cou p on s d u e Ju ly 1,1896, in
a ccord an ce w ith the term s o f th e m ortg age.
C E N T R A L T R U S T C O M P A N Y OF N E W Y O R K ,
Trustee.
By E. F. H Y D E , 2d V ice-P resid e n t.
\
N e w Y o r k , M ay lo th , 1896.
W e, th e undersigned, hereby certify th a t th e T h ree
hun dred and fo r t y (340) B on d s w ere designated by
lo t in ou r presence as a b o v e stated.
G E O R G E P . RO BB IN S,
W ith Central T ru st Co. o f N ew Y ork.
JO H N SCOTT,
O f th e N orthern P a cific R a ilroad Com pany.
F R A N K B. SM ID l\
N otary Pu blic, New Y o rk C ity and County.

J. Spencer Turner,
SUCCESSOR TO

EEriiickerlioff, T u r n e r & C o .,
M A N U F A C T U R E R A N D D E A L E R IN

C O T T O N SAIL DUCK

INSURANCE CO.

L is tin g s o f S ec u rities o n
V o rk S to c k E x c h a n g e ,
N e w Y o r k , January 21, 1896.
The Trustees, in con form ity with the Charter
o f the C om pany, subm it the follow in g state­
m ent o f its affairs on the 31st o f D ecem b er,
1895:
Premiums on Marine Risks from
1st January, 1895, to 31st
Decem ber, 18 95 ........................ $2,622,872.42
Premiums
on
P olicies not
marked off 1st January, 1895 1,027,151.41
Total M arine Prem ium s............ $3,650,023.83
Premiums m arked o ff from 1st
January, 1895, to 31st D ecem ­
ber, 18 95.................................... $2,540,748.83
Losses paid during the
same period ...................$1,218,407.55
Returns o f Premiums
and E xpen ses............ $603,415.82
The Company has the follow in g Assets, viz.:
United States and City o f New
Y ork Stock: C ity Banks and
other Stocks............................... $8,059,105.00
Loans secured by Stocks and
o th e r w ise ...................................
1,216,500.00
R eal E state and Claims due the
Company, estimated at..........
1,000,004.90
Prem ium N otes and Bills R e­
ceiva b le.......................................
896,431.88
Cash in B an k.................................
202,518.33
Am ount.

$11,374,560.11

AGENT

U N IT E D

ST A T E S . BUNTING

CO.

A full supply, all W id th s an d C olors, always
stock.

1 0 9 Dunne Street, N e w Y o r k .

A N D R E W S

O F F I C E

DESKS.
A N D R E W S M A N U F A C T U R I N G CO.
Blink ana O flicc F ittings. F in e Brass W o rk . Specia
designs on app lication.
SEND FOR CATALO G UE.

?6 Fifth

A m ,

N e w Y o r k Clti

A. Strassburger,
STOCKS & BONDS B R O K E R .
SO U T H E R N IN V E S T M E N T SE C U R IT IE S.

Monto'omerv, Ala.

tlte

N ew

B u s in e s s Failure** In 1 8 9 5 .
t a n k in g a n d F in a n c ia l —
M oney M arket fo r Six Years.
New York City Bank Movements.
C rop a n d O tlie r g P ro d u c tio n s.
The Year’s Crops.
Pig ron P roduction.
Anthracite Coal Production.
**lrt a n d SUver—
R eview of Gold and Silver Production.
P /odu ct o f Gold in Australasian Colonies*
W or d’ s Gold Production since 1870.
W orld's Silver P roduction eince 1870.
G rea t B r it a i n —M e r c a n tile a n d F in a n ­
c ia l A ffa ir s .
Commercial and Financial Review for 1895.
P rice o f Silver fo r Three Years.
T r a d e a n d C o m m e rc e —
Our Foreign Trade in 1895.
Values of E xports and Im ports of the
United States and the Trade Balance
fo r 30 years, 1866-1895.
E xports o f Leading Articles o f Dom estic
Produce for Three Years.
Im ports o f Leading Articles o f Merchandise
for Three Years.
Comparative Prices of Merchandise, 1860,
1879 and 1892 96.
(foreign E x c h a n g e —
Prices in New York in 1890 to 1895.
In v e stm e n ts—
Compound Interest Table, 8howing A ccu ­
mulations o f Money in a Series o f Years.
Table Showing the Rate Per Cent Realized
on Stocks Purchased at different price?.

Six p ercen t interest on the outstanding cer­
tificates o f profits w ill be paid to the holders
thereof, or their legal representatives, on and
after Tuesday, the fou rth o f F ebruary next.

• n t t e d S tates D ebt and S ec u rities—
Debt of the United States, 1793-1895.
Highest and Lowest Prices o f U. 8. Bonds,
monthly, 1860-lbP5.

The outstanding certificates o f the issue o f
1890 w ill be redeem ed and paid to the holders
thereof, or their leg al representatives, on and
after T uesday, the fourth o f February next,
from w hich date all interest thereon w ill
oease. The certificates to b e produced at the
tim e o f paym ent and canceled.

S ta tejS e cu ritfe s.—
flight st and Lowest Quotations of State
Securities, 186C-1895.

A dividend o f F orty per cent is declared on
the net earned premiums o f the Com pany fo r
the year ending 31st D ecem ber, 1895, fo r
w hich certificates w ill he issued on and after
Tuesday, the fifth of M ay next.
B y order o f the B oard,
J . H . C H A P M A N , S ec re ta ry .

-AND A L L K IN D S OF

O TTO N C A N V A S F E L T IN G D U K ,
C A R C O V E R IN G B A G G IN G ,
R A V E N S D U C K , S A IL T W IN E , &C„
P O P E “ A W N I N G ” ST R IP E S .

U P tro n p e e l •*! 1 » 9 5 .
B a n k C le a rin g s a n d S p e c u la tio n .

T R U STE E S :
W. H. H. M oore,
A. A. Raven,
Joseph H. Chapman,
James Low,
James G. Do Forest,
William D egroot,
W illiam H. Webb,
H orace Gray,
Christian de Thomsen,
Charles P. Burdett,
Henry E. H awley,
W illiam E. Dodge,
George Bliss,
John L. Riker,
C. A. Hand,
John D. H ewlett,
Gustav Amsinck,
N. Denton Smith,

Charles H. Marshall,
CharlesiD. L ev en ch ,
Edward F loyd-Jones,
George H. Macy,
L aw rence Turnure.
W aldron P. Brown,
A nson W. Hard.
Isaac B ell,
Joseph Agostini,
Vernon H. Brown,
Leander N. L ovell,
E verett Frazar,
W illiam B. B oulton.
G eorge W . Quintard,
Paul L, Thebaud,
John B. W oodward,
George Coppell.

W. H. H. MOORE, President
A. A. RAVEN, Yice-Pres’t.
F. A. PARSONS, 2 d Yice-Pres'L

ta ilr o a d s a n d th e ir s e cu ritie s—
Railroad statistics f i r the United States.
Railroad Earnings in 1894 and 1895
Railroad Bonds in New York, 1 8 9 1 -lo9 5 —
Highest bud Lowest P rices Monthly.
Railroad and M i-cellaneous Stocks in New
York, 1891-1895-H ig h e st and Lowest
Prices Monthly.
Railroad Bonds in Boston, .8 2 5 —Highest
and L ow est Prices Monthly.
Railroad Stocks in Boston. 1895—Highest
and Lowest Pi ices Monthly.
Railroad Bonds i*i Philadelphia, 1895—
Highest and Lowest Prices Monthly.
Railrofcd Stocks in Philadelphia, 1895—
Highest and Lowest P iices Monthly.
ggB Railroad Bonds in Baltimore, 1895—H ighfiari&Lfcbt and Lowest Prices Monthly.
BBI1CERailroad Stocks in Baltimore, 1895—Higlifg^B&est and Lowest Prices Monthly.
A p p e n d ix —

I w kstorj *’ siipPLKMKNT —([saue o f January
26, 1895, Bound up with the R e v ie w .)

H o u n d in R e d

C lo t li ......................................S 2 0 0

T o Sub scribers o f the Ch ron icl e.........

1 50

WILLIAM B. DANA COMPANY
PUBLISH ER S.

Pine Street, corner Pearl Street,
NEW

YORK.