Full text of Commercial and Financial Chronicle : June 15, 1895, Vol. 60, No. 1564

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Wiefelg iewspapee,
REPRESEN TIN G T H E IN D U ST R IA L AN D COMMERCIAL IN TERESTS OF T H E U N ITE D S T A T I » .
[Entered according to

i o t o l Congress, in t i e year 1895, by the W iam M B, Dana OOMjnnT, ln tue omen o l I M I J b r p t e ^ o l ^ o n g r e M ^

VOL. 60.

SATURDAY, JUNE 15, 1895.____________ NO. 1564
vith the same week of 1892 the increase is 1*0 per cent.

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NEW YORK,

CLEARING HOUSE RETURNS .
The following table, made up by telegraph, etc., indicates
that the total bank clearings o f all the clearing houses of the
United States for the week ending to-day, June 15, have been
$1,036,848,731, against $1,071,923,197 last week and $844,959,345 the corresponding week of last year.
Cl e a r in g s .
Return* by Telegraph.

Week Ending June 15.
1895.

1894.

Per Cent.

B a ltim o r e ........................... .
C h ica g o.......................................
St. L o u i s ............ ...............
N ew O rleans............................

$477,314,249
78,797,081
53,845,620
12,229,495
75,696,084
21,090,098
6,401,141

$354,924,247
64,376,462
43,431,999
10,510,900
71,179,839
19,839,094
5,276,717

+34-5
+ 2 2 '*
+24-0
+16-3
+ 6 '3
+ 6 '3
+21-3

Seven cities, 5 d a y s . . . . . .
O ther cities, 5 d a ys.............. —

$725.373,768
135,481,203

$569,538,958
119,723,486

+ 2 7 '4
+13-2

T otal all cities, 5 d a y s ....
▲11 eitles, 1 d a y — .................

$860,854,971
175,491,763

$689,262,444
155,687,801

+ 24 '9
+ 12 -7

T otal a ll cities fo r w e e k ..

$1,036,346,734

$844,950,245

+22-7

N e w Y o r k .................................
B o s t o n ........................................

The full details of clearings for the week covered by the
above statement will be given next Saturday. ^W e cannot, of
course, furnish them to-day, bank clearings being made up by
the various clearing houses at noon on Saturday, and hence in
the above the last twenty-four hours of the week have to be
in all cases estimated, as we go to press Friday night.
Our usual detailed figures for the previous week, covering
the returns for the period ending with Saturday noon, June
8 are given below, and we also present the results for the
corresponding week in 1894,1893 and 1893. In comparison
with the preceding week there is an increase in the aggregate
exchanges of one hundred and eightv-four million dollars, of
which one hundred and one millions is outside of New York.
Contrasted with the week of 1894 the total for the whole
country shows an excess of 27*4 per cent. Compared with
the week of 1893 the current returns record a gain of 0’9 per
cent and the loss from 1893 is 5*5 per cent. Outside of New
Yonk the gain over 1894 is 22*1 per cent. The increase over
1893 reaches 5’4 per cent, and making comparison




091,819,263

B oston....................
P rovidence............
H artford ................
New H aven...........
Springfield.............
W orcester..............
Portland................
all R iver.............
L o w e ll................. •
New B edford...... .
Total New Eng..

97,790,929
5.750.600
2.429,323
1,573,620
1,509,000
1,607,967
1,238,471
656,954
616,951
501,518
113,578,333

Chicago..................
Cincinnati.............
Milwaukee.............
D etroit.......
Cleveland. . . . . . . . .
C olum bus..............
P eoria....................
Indianapolis........
Grand R a p id s .....
L exin gton.............
Saginaw.................
Bay City.............. »
A k r o n . ... ... ... ... .
Springfield, Ohio..
Canton...................
R ock ford...............
Kalamazoo............
Tot. Mid. W est’n.

100,078,245
14,482,300
4,979,282
6,656,811
5,802.970
4,218,000
2,050,981
1,373,675
844,893
382,941
430.097
392,317
214,160
184,335
241,728
267,241
826,537
142,925,863

San Francisco..
Portland...........
Salt Lake City..
Seattle..............
Tacom a............
Los A n g e le s....
H elena...............
Spokane............
Slonx F a lls .....
Fargo.................
Total Pacific.
Kansas C ity...,
M inneapolis....
Omaha...............
St. P aul........... .
D en ver.............
Duluth..............
St. J o se p h ......
Sioux City........
Des M oin es.....
L incoln.............
W ichita........... .
Topeka...........
F rem ont...........
H astings...........
Tot. other W est.
St. L ouis.............
New Orleans......
Louisville...........
Galveston...........
H ouston.............
R ichm ond..........
Savannah...........
Memphis.............
A tlanta...............
Nashville............
Dallas..................
N o r fo lk ...........
W a co ...................
Fort W orth........
Birmingham......
J ackson ville....
Chattanooga......
Little R ock*.......
■Total Southern..

20,015.343
1,431,092
1,216,330
356,824
559,776
1,263 317
446,131
426,626
71.499
160.774
25,967,712

36,403,10?

1892.

%

593.289,945
68,952,539
13.594,205
15.055,383
4.142,196
2,281,522
1.711,149
1.065.057
983,874

68,186,598
14,792,935
14.780,302
3,831,956
2,283,806
1,641,278
984,784
875,688

526,099,083

+32*3
+35'6
4-20-9
+4'6
+31-2
+21*6
+10-4
+23'7
+4'6
-4-21*7
+ 4 ‘6
+31*4

312.300
701,338,170

248,600
752,512,448

88.639,280
5,237,200
2,295,628
1,633,375
1,612.171
1.469,003
1.318,329
812,876
711,461
479,622
104,208,945

99,211,042
4 995,500
2,190,710
1,605,655
1,209,507
1,209,852
1,231,960

88,706,081

+30-0
436*8
425*2
+8*7
+14*0
429*4
—10*7
-17*3
—20*8
+25*6
+28*0
+12*7
+9*2
+16-6
+15-8
+13-7
+17*9
423*0
+5*7
+14-3
—12-3
+20-3
+22 6
+7*5
-0*5
+40-1
+32'3
-j-45'6
+15-6

95,545.163
13,246,900
6,354,134
7,131,070
5.077,365
3.506,100
1,675 500
1,763,062
1,071,392
414,363
374.627
448.799
330,021
198,056
166,603

102,160,285
14,743,850
6,797,103
6,716,615
5,875,449
4,359,800
2,031,600
1,637,821
1.268,390
493,534
428,510

436,227,827
52,949,042
12,404.847
14,689,656
3,815,493

New York..............
Philadelphia..........
Pittsburg...............
Baltimore..............
Buffalo........ ..........
W ashington..........
Rochester..............
Syracuse...............;
W ilm ington...........
Scranton.................
B ingham ton.........
T otal M id d le ....

1893.

1895.
P . Cent.

1894.

Clearings at—

1
1
1
’

l

i

1,196,161
502,554
113,352,441

270,000
176,911

138,201,155

146,964,348

13,931,297
2,058.299
1,277.78"
1,000,000
690,742
1.116.351
819,318
500,000
178,929

13.686,323
2,538,062
1,529,819
1,448,360
792,237
729,814
677,105

9
17,128,0799

+64'4
+90-8
—7*6
—24*9
+20-6
+48-2
-13*7
+5?*1
—50*7
+6'6
+61*7

21,572,510

21,546,780

7
5
1
0
1
Î
3
2
1
5
1
7.
6
1
35,034,0099

+14*4
+18'3
—36'6
+36'8
+13*7
-12*2
—13-0
-17*0
—0*4
-2 3 '3
+39'fl
-12*5
—25*2
—44*0
+3*9

9,978,218
6,900,770
6.310.715
4.798,177
4,907,522
2.193,574
2.442,220
880,481
904,720
632,692
535,852
445.769
129,945

9,544,855

41,011,665

42 493,597
23,044,619
8.727,970
8,536,882
1,652,236
1,296,756
2,921,354
1,389,707
2,424671
1,680,704
2,092,108
905,000
902,995
428,641
717,055
491.453

7
)S

+38*1
+t2-e
—5'4
+11*1
4-20'i
4-36*1
—40*2
+33*»
+17*4
+10-4
—1*1
+2*i
—7*]
+37‘b
—20*2
+31*5

24,816,101
8.207.033
6,896.290
2.415 857
2,056,462
2,207.241
1.240.303
1,934,083
1.076,000
1.074.403
926,124
1.006.239
510.442
650.000
450.120
490,038
423,455
56.386,263

57,584,638

123,622,3763
3
9
9
)
I

i

5
2

1

1
.8
9
0
0
1
5
8
8
4
0
3
17
¡0

Vi

145,000

8 , 000,000

5,718,971
6,378,144
5,299,962
1,584,475
2.117,809
1,193,365
788,726
817,060
528,449
410,673
111,208

492,587

61,698,916

36

+21*f

1.071,923.197
Total a ll........
Outside N. York. 494,732,538

94
57
405.115,4e'

+27-1 1.062,718.704 LI 34,454,252
+22*3 469,478,759 489,617,701

13,199,823
7,442,028
1,235,656
1.035.513
724,848
23.637.868

44
99
19
78
53
33
19.691.033

M ontreal............
T oron to..............
H alifax...............
W innipeg...........
H a m ilto n ........
Total Canada..

* Not Included in totals.

4-ie-*
+32*'
+9'i
—6*
+20-

}

11,895,629
6,354,765
1,224,166
..........
775,016
20.249,470

12.901.232
6,502,446
1,248,204
832,5ÓÌ
21.484,383

1030

THE CHRONICLE.

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VOL. LX.

THE FIN AN CIAL SITUATION.
The crop report of the Agricultural Department was
made public on Monday and has been the chief influ­
ence in the business affairs of this week. The report
was on the whole interpreted favorably, for although
it indicated an unsatisfactory condition about June 1
or the last of May for winter wheat, it put the springwheat condition very high. Besides that, since the re­
turns which form the basis of that report were written
there have been abundant rains and as a result all the
crops have been improving daily. Of course just how
far the harm done in May to winter wheat can be cured
is a question which cannot at present be definitely an­
swered.
We have no doubt from what we hear that
the rains have been of material benefit even in that case.
As to corn, the situation to-day is decidedly promising.
Other than the crops probably the most encouraging
event has been the announcement of the committee
having in charge the Atchison reorganization stating
that the plan has been declared effective, a large ma­
jority of each class of bonds having been deposited.
It must be highly satisfactory to those who devised the
scheme to obtain so speedy and emphatic an approval
and acceptance of i t ; but it is of more imporiance as
an industrial event to get a system covering so wide a
field and involving so many obligations into such a
shape as to hold out the promise that it will soon be re­
stored to a healthful, vigorous condition, with its large
number of obligations in the way of becoming pro­
ductive again. Still another satisfactory development
has been the adjustment of differences between the
Seaboard Air L ’ ne and the Southern Railway &
Steamship Association and a consequent restoration of
rates in that section of the country.
The state of trade keeps steadily improving. The most
striking evidence of this is furnished by the long list
of news dispatches which the daily papers give each
day reporting advances in wages. The movement has
been noted several times by us of late, but it seems to
be gaining new force all the time. In the general
improvement no industry is making greater headway
than the iron and steel industry. And that is at the
same time one of the most important and
most encouraging features in the situation, for
the iron industry is so closely connected with
and affects so intimately such a large number of
other industries. The account which the Iron Age gives
of the market is quite noteworthy, and deserves quot­
ing as illustrating the satisfactory condition of things.
Says the “ Age” : “ The past week has been one of the
most stirring in the history of the iron trade for many
years. It presents an unbroken record of advances all
along the line, and few are left who would character­
ize the upward movement as a 'soda water rise.* The
most extraordinary thing is that the upward tendency
has developed so fast without the powerful aid of
heavy purchases from the principal consumers, the
railroads. It is true that the railroads have been buy­
ing a little more liberally, but it is certain, too, that
they have not yet taken hold as they will if finances
get into better shape and crops do better than the
earlier scire stories would indicate.”
In a special article the “ Age ” also shows how im­
portant has been the advance in prices during the last
three months. Bessemer pig iron for Pittsburg deliv­
ery sold at $9 95 per ton at the close of February; on
June 4th the quotation was $12 00; In the same
period steel billets have risen in price from $14 75

J un e 15, 1895.

THE CHRONICLE

1031

Money continues in abundant supply at the Stock*
to $18 00. The statement of pig iron production
Exchange
and at the banks, and loans on call havediscloses at the same time that iron masters are
been
uniformly
made at the Exchange at 1 per cent
not losing their heads because of the improvement
in
round
amounts,
with some small sums placed at 1$
in prices and the increased demand. The additions
per
cent,
so
that
the
average for the week has been a
to furnace plant are very
conservative.
We
little
less
than
per
cent.
Banks and trust compan­
noted in previous months some falling ofE in
ies
quote
1
per
cent
as
the
minimum. Among the;
the number of furnaces in blast and also in the weekly
transactions
at
low
rates
this
week
have been sixty day
capacity, the production continuing nevertheless at
single
name
paper,
made
by
a
Chicago
house, at 1-J p er
quite a high average rate. During the last month,
cen
t;
borrowing
by
Kings
County
on account o f
with prices steadily advancing, there was a net addi­
the
disbursements
during
the
strike
of the trolley
tion to the number of active furnaces of only 1, and
employees,
for
eight
months
at
2^
per cen t; Hr
the weekly capacity increased only from 156,554 tons
loan
to
Fall
River,
Mass.,
in
anticipation
of the collec­
to 157,224 tons.
Doubtless another month the record
tion
of
taxes,
for
six
months,
at
2
per
cent
and to Roch­
will show larger additions, and with the present
ester,
N.
Y
.,
for
four
months,
at
2-J
per
ceot,
and th e
activity there will be full warrant for a further expan­
sale
of
single
name
paper
maturing
in
January,
at &
sion in the output.
Consumption now is evidently in
per
cent.
Time
money
is
freely
offered
on
good
mar­
excess of the production, for during May stocks on
hand, sold and unsold, were reduced nearly one hun­ ketable stock collateral, but the demand is small
Quotations [ar^
dred thousand tons— that is from an aggregate of and confined to long dates.
1£@2
per
cent
for
thirty
to
sixty days, 2
780,729 tons to an aggregate of 684,132 tons, and this
per
cent
for
ninety
days
to
four
months and
is after some decrease in the month preceding.
2|@3
per
cent
for
five
to
seven
months.
Commercial
As bearing upon the improvement in trade, it is in­
paper
is
in
good
supply,
and
that
of
ordinary
names is
teresting to note that in Canada they also view the out­
fairly
liberal,
but
the
demand
is
urgent
for
the besV
look as being very encouraging. At the recent meeting
and
rates
are
firmly
held
at
2^-@2f
per
cent
for
sixty toof the Bank of Montreal, Sir Donald Smith, after re­
ferring to the evidences of reviving trade in the United ninety-day endorsed bills receivable ; 2 f @3^ per cent
States, noted that the indications in the Dominion for four months commission house and prime four
pointed strongly in the same direction. At Montreal months single nam es; 3@3^- per cent for prime six!"
the clearings in May 1895 reached an aggregate of months, and 4@4^ per cent for good four to six months$57,146,200, against only $49,294,200 in 1894 and single names. Re-discounting for Southern correspond­
$54,325,000 in 1893, “ showing undoubted improve ents shows a little increase, but not much is being done?
ment in business even as compared with two years ago.J for the West.
The Bank of England minimum rate of discount
The two principal Canadian railways— the Canadian
remains
unchanged at 2 per cent. The cable reports
Pacific and the Grand Trunk— are likewise now begin­
discounts
of sixty to ninety day bank bills in London
ning to report increases in their traffic returns, after a
!
f
of
1
per
cent. The open market rate at Paris is 1£
long series of decreases. Prom such results Sir Donald
per
cent,
and
at Berlin and Frankfort 2 per cent, the'
reasons there is good cause to infer that the turn
rate
in
Germany
being influenced by the preparationsin the tide of business has com e; which view also
for
semi-annual
settlements.
According to our special
finds confirmation in the rising scale of prices both
here and abroad. The advance in the value of wheat, London cable the Bank of England gained ■£375,852’
he says, has already given hope and inspired a more bullion during the week and held at the close of thep
confident feeling among the agriculturalists of Ontario week £37,397,728. . Our correspondent further advise#
and the Northwest, and if the promise of better us that the gain was due to imports of £230,000 ( o f
prices for that important cereal should be realized dur­ which £162,000 were from Australia, £35,000 were*
ing the ensuing year, with even less than an average bought in the open market and £33,000 were front
crop (and his advices all showed that the crop would Egypt), to r e c e i p t s from the interior of Great Britain o f
be an abundant one), the effect could not fail to be £346,000 and to shipments to the Cape of £200,000.
The foreign exchange market has been without
favorable to business generally in the Dominion.
special
feature this week.
There was no mail steamer
The silver question in this country of course is one
after
Wednesday
and
consequents
the demand for
in which the Canadian banks take a deep interest as
remittance
was
smaller
and
business
has been light
large lenders of money in the United States. Mr.
throughout
the
week,
with
the
usual
inquiry from
Clouston, the General Manager of the bank, in his ad­
mercantile
remitters
and
a
little
from
the arbitrage
dress, discussed the matter quite at length. He
houses.
The
supply
consisted
chiefly
of
seeurity bill#
thought that though his bank could probably do busi­
ness just as profitably here on a silver basis as on a gold drawn by Speyer & Co. against the Allegheny Valley
basis, yet they would like to see the uncertainty 4 per cents, which were last week placed abroad, and1
removed.
Referring to the tendency of our people it is said that some drafts have been offered by the
The offerings of the
towards the adoption of irrational and exploded Morgan-Belmont Syndicate.
Speyer bills were promptly absorbed, leaving
financial theories he quoted a statement of
tone of the market firm.
Bankers claim
French writer to the t fEect that “ God is good to his the
that
the
strength
of
the
market
is perfectly
little children, to drunken men and to the people of
natural,
conditions
at
this
season
of
the
year
contribut­
the United States, or they would have gone to eternal
ing
to
high
rates,
and
that
it
would
require
a
compara­
smash long ere this.” He thinks the organized efEorts
tively
large
amount
of
bills
to
make
much
of
an im ­
now making to stem the tide o f silver lunacy are to be
pression
upon
the
market,
and
therefore
they
do notcommended, and he has no doubt they will be entirely
look
for
any
material
change
for
the
present.
On
successful— a view in which we all share. The silver
Monday
exchange
opened
with
an
easier
tone
and
quo­
agitation is largely based on ignorance, and our people
are not slow to accept truth when they are brought tations for actual business in long and short sterling
were one quarter of a cent lower than at the close o f
directly in contact with it.




1032

THE CHRONICLE.

Friday of last week, standing at 4 88@4 88£ for the
former and at 4 89@4 89£ for the latter. On the fol­
lowing day the market was firmer and rates for actual
business were advanced to 4 88£@4 88^ for sixty day
and 4 89^@4 89£ for sight, while cable transfers remained unchanged at;4 89£@4 89f. Then there was
Borne inquiry for remittance, for travelers* credits and
for semi-annual interest and settlements. On Wednes­
day the market was dull and steady and almost wholly
without feature, but on Thursday it was easier in tone,
though bankers made no change in rates for actual
business, Borne, however, offering concessions to brok­
ers more liberally than they did on the previous day,
and there were indications of the existence of Syndi­
cate bills. The tone was a little firmer yesterday, but
with quoted rates still the same. The following table
shows the daily posted rates of exchange by leading
drawers.

rVoL. LX.

1895.
Winter wheat.........71*1
Spring w heat.........97*8
Oats......................... 84*3

Rye.....................

1894.
83'2
83-0
87-0
93-2

Barley..................... 90*3

8 2-2

1893.
75-5
86*4
88*9
84-6
88-3

1392.
88-3
92*3
99 1
91*0
92*1

1891.
96*6
92*6
85*1
95*4
903

1890.
78*1
91*3
89*8
92*3
86*4

1889
93*1
94*4
93*8
95*2
95*6

As the affairs of the New York Susquehanna & West­
ern are attracting a great deal of attention at present,
the figures of earnings for April, which we have secured
this week, will be interesting. The gross is reported at
$173,500 the present year against $137,220 last year,
the expenses $124,662 against $91,197, and the net
$48,838 against $46,023. The Western New York &
Pennsylvania for the same month reports gross of
$271,571 against $239,894, and net of $74,483 against
$82,017 ; the Louisville New Albany & Chicago gross of
$264,970 against $230,358, and net of $88,895 against
$75,629 ; the Flint & Pere Marquette gross of
$227,086 against $190,927, and net of $62,934
Fri..
Mon.,
Tues.,
W ed.,
Thurs.,
Fri.,
against $46,471 ; the Union Pacific Denver &
June 7. June 10. June 11. June 12. June 13. June 14.
89
Gulf gross of $210,258 against $213,668, and
89
89
S r o wn B ros.. . . i §? Ì*ys •• ®9
89
89
l Sight...... 90
90
90
90
90
90
net
of $29,813 against $36,043; the Philadelphia &
„
(60 days.. 89
89
89
89
89
89
- Magoun & Co. \Sight...... 90
90
90
90
90
90
Erie gross of $313,723 against $272,686, and net of
Bank British
(60 days.. 89
89
89
89
89
89
N o. America., l Sight...... 90
90
90
90
$100,716 against $73,932; the Austin & N orthW est
90
90
Bank oX
(6 0 days.. 89
89
89
89
89
gross of $21,952 against $19,906, and net of $6,489
M ontreal....... } Sight....... 90
90
90
60
90
Canadian Bank ( 60 d avs.. 89
89
against $6,877; and the Detroit & Mackinac gross of
89
89
89
o r Commerce. \S ightl.... 90
90
90
90
90
90
$23,803 against $20,226, and net of $9,844 against
H oidelbach.Ick- ( 60 day s .. 8»
89
89
89
89
89
elhetmer & Co l Sight...... 90
90
90
90
90
90
$9,317. For May the Georgia reports gross of $83,364
89
89
89
Lasard Freres ..1 2 ? <
l^ys ■■ 2?
89
89
90
90
90
against $80,954, and a deficiency below expenses of
90
90
Merchants’ Bk. ( «0 da ys.. 89
89
89
89
89
89
o f Canada.... \Sight...... 90
$8,027
in 1895 against a surplus in May 1894 of
90
90
90
90
90
$4,299;
and the West Virginia Central & Pittsburg
The market closed firm on Friday at 4 89 for sixty
days and 4 90 for sight. Kates for actual business in gross of $89,684 against $57,721, and net of $30,683
sterling were 4 88£@4 88| for long, 4 89^@4 89| foi against $16,869.
■April Earnings.—
1895.
1894.
short and 4 89|@4 89f for cable transfers. Prime
1893.
1892.
Name of Road—
t
9
* .
9
227,086
190,927
commercial bills were 4 87|@4 88 and documentary Flint & Pere Marquette....... Gross
263.615
230,415
Net
64,934
46,471
78,059
67,214
Louis. N. A lb. & Chic............Gross
4 87i@ 4 87£.
264.P69
230,858
263,701
262,714
Net
88,896
75,620
98,513
101,75t
313,723
We have referred above to the monthly crop report Philadelphia & Brie...............Gross
272.688
439,497
409,79t
Net
100,717
73,932
180,038
130,14 !
c f the Agricultural Bureau at Washington, and to its West. N. Y. & P a . . . . ............Gross 271,671
239,804
305,105
272,85t
Net
74,483
82,017
94,183
100,795
showing an impaired condition of winter wheat but
— May Earnings.—
^ 181.5.
1894.
1803.
1892.
Name of Road—
an excellent condition of spring wheat. The general
9
$
$
«
Georgia........ ......................
Gross 83,364
80,955
80,247
104,341
average for the latter stands at 97*8, as against only
Net
def.8,027
4,299
3,027
5,691
ro s s
89,684
57,721
105,606
89,48»
88 in 1894 and 86*4 in 1893. For winter wheat the W estV a. Cent. & P itts ......GNet
30,083
16,869
.37,580
27,54t
average is given as 71T, against 83*2 in 1894 and 75*5
The following statement gives the week’s movemen)
in 1893. The following shows the* averages . for the of money to and from the interior by the New York
leading States and also the comparative area sown to banks.
wheat in each.
Week Ending June 14,1895.

AOBEAGE AND CONDITION OF WHEAT, ON JUNE 1.

Ohio....................
Indiana............ ..
Illinois............ .
Missouri............. .
Kansas.................
Michigan.............
-California..............
■Oregon..................

Mew York............
Pennsylvania.......
Tennessee...........
Maryland..............
Virginia.................

66
52
7(1
80
77
102
«9
93
0«
83
99
96

‘A ,423
a ,206
1,739
1,641
a,08i<
1,158
3,091
596
404
1,232
665
450
699
336
3.902

96 a ,55
90 a ,684
93 a ,872 81 a ,523
84 1,830 67 1,318
82 1,526 74 1,60«
57 3,306 47 a,768
89 1,281 72 1,509
60 a ,688 72 a.620
97
590 102
617
08
425 87
472
95 1,257 94 1,311
75
728 00
809
96
476 00
408
81
786 96
775
89
456 69
432
4,092
3,062

1892.

84 a.796
87 a ,7 i 3
86 1.751
75 1,987
87 4,071
86 1,623
08 3,012
08
623
97
510
89 1,324
03
899
530
93
92
799
93
445
3,149

Texas............ ....
66
Other winter........
T o t . winter w h e a t 71*1 a3,458 83*2 ¿4,405 75*5 83,087 88*8 ao.241
T ot . spring w h e a i 97*8 10,425 88-0j 10,477 80*4|11,592 92*8 ia ,3 i3
Total................ 78*6 33.878 84*7^34,882 78*8'34,629 89*6 38,554
Per cent of inc. or
dec, in acreage....
- 29
+0*7
—10*2
—3*4
——
M
vmiubuu uum ouioageugureB

T otal gold and legal tenders..

Acreage.

£
o

1801.

Condition. I

Condition.

I Acreage.

1808.
1 Condition. I

|Acreage.

1804.
) Condition.

¡States.

1 Condition.

1896.

Net Interior
Movement.

3,767,000

$2,151,000 Gain.$l,616,000
Gain.
200.000

$4,367,000

$2,551,000 G ain.$l,816,000

With the Sub-Treasury operations une result is as
follows.

»9 ii, 663
90 a ,918
Into
Week Ending June 14,1895.
Out of
Net Change Uk
98 1.946
Banks.
Banks.
Bank Holdings.
99 1,892
Banks’ Interior m ovem ent, as above <4,367,000 $2,551,000 G ain.$l,816,000
95 3,540
Sub-Treasnry operation s.............
12,600,000 22,600,000 Loss*10,000,00 0
90 1.607
07 a ,815
T otal gold and legal tenders...... $16,967,000 $25,151,000 Loss. 8,184,000
98
692
96
covers m e n>iu,44y,uoo paid into the
641 o - v / T .
87 1,337 Sub-Treasury after the close of business last Friday.
99 1,109
The following table indicates the amount of bullion
93
540
95
850 in the principal European banks this week and at the
98
536 corresponding date last year.
3,405
97 a 0,681
98 13.335
95 39,916
+8*7

The Bureau makes no report on the condition of
corn, as it is too early in the season for that. The
averages for the other crops, in comparison with pre­
vious years, are set out in the annexed table.




C urren cy.....................................
G eld................................................

Received by Shipped by
N. Y. Banks. N. Y. Banks

June 13, 1806.

Bank of
Gold.

£ I
37,397,728

June 14, 1894.

Silver.

Total.

£

X

I

Gold.

Silver.

*

A

E ngland ...
37,397,723 37,844,193
37,844,493
F ra n c e ... .
82,119,033 61, 097,811 133,216,844 71.801.000 51.081.000 122,384,000
Germany..
88,145.176 15, 580,824 53.726.000 33.503.000 13.634.000 47.187.000
A ust.-H ung’y 19,226,000
,509,000 »2,735,000 10.302.000 16.342.000 26.644.000
Spain..........
8.004.000
,460,000 20.464.000 7.918.000 8.700.000 16.618.000
N etherlands. 4.204.000
,048,000 11,342 000 4.516.000 7.033.000 11,549,000
Nat. Belgium.
2,919,333
459,667 4,379,000 3,0d0,667 1,530,333 4,591,000
Tot.this week 192,105,270 101155302 293,260,572 168,445,160 98,372^333 266,817,403
Tot. prev. w ’k 191,865,322 101148938 293,014,260 167,131,590)98.321.000 265,452,590

15, 1895 ]

THE CHRONICLE.________________________

1033_

**-

1ment net balance, and the remainder still unpaid on
foreign account, will also be determined. Then there
is the question of the cash resources of the Treasury for
There are reasons for thinking that the Treasury the remainder of the calendar year, which cannot be
Department and the Morgan and Belmont Syndicate fixed accurately until it is known just how much really
will within the next thirty days close up their contract remains due on account of this bond sale, hmally, a
so far as the delivery of gold is concerned on the part settlement of. the Syndicate affairs will be of interest
of the Syndicate and the delivery of the remainder of because the bank returns will no longer be disturbed
the bonds on the Government's part. A transaction and made unintelligible by the irregularities introbelieved to be in preparation for that result was the duced through Syndicate operations.
_
deposit by the Syndicate last week Friday subsequent to
In closing up the bond purchase there is only one
the close of business on that day of $10,449,000 of gold point that could lead to any discussion on the part of
coin at the Sub-Treasury, no part of which has as yet the public. We refer to the relations which the>Synbeen added to the net gold holdings of the Government, dicate have held since February with reference to the
That transaction was a good illustration of the quiet, matter of gold exports and rates of foreign exchange,
unannounced way the Syndicate has of performing all A natural inquiry at such a juncture would be— will
its work, whether it be mere matters of business, that relationship cease when the gold has been deor whether it be in accomplishing that modern posited and all the bonds delivered ? We may pre­
marvel of arresting gold exports in February sume that it will not suffer any material modification
last, or regulating ever since then the rates for because of this settlement.
The services rendered
foreign exchange as easily apparently as if wholly un- h n those matters have never been a legal requireinfluenced except by the direct operation of natural m6nt or in any manner a condition of the conlaws, or preventing the shipment of gold notwith- tract which could have been enforced.
The sub­
standing day after day rates for foreign exchange have scribing bankers only stated that so far as it
ruled above the normal gold-export point.
This gold iay in their power they would exert all their
deposited on Friday a week ago ($10,449,000) is sup- influence and make all legitimate efforts to
posed to be the remainder of the original supply ac- protect the Treasury against the withdrawals of gold,
quired by the Syndicate from the banks and bankers We presume it is anticipated that no action of a special
which participated in the contract. It will be remem- character will hereafter be needed, the normal condibered that certain institutions and individuals, for an tions as to the movement of capital having been reinterest in the contract, were induced to furnish a sum stored. Assuming this condition to continue, with the
of gold equal to double the amount of their subscrip- middle of July our new crops of wheat and cotton will
tions.
In this way the Syndicate was enabled to pay begin to move, or at least to furnish exchange to be
into the sub-treasuries and designated depositories by covered later on with cotton and produce drafts.
February 21 a little more than the American half of
With reference to the foreign half of the gold paythe purchase money for the bonds bought of the Gov- ment, and the amounts which have been deposited m
ernment, and according to general belief to pay in the the New York Sub-Treasury on that account, we have
further amount last week Friday on foreign account.
the following statement:
The nature of the Syndicate contract of February 8th Amount of «old to be imported on for$32,558,137 50
is well known to our readers. We published it FebruMar' 2 9 ...............................$14,545,972 67
ary 16th, pages 282 and 283. According to that in- Traneferred June 7 from depository
strument the Government agreed to purchase 3,500,000
*a»*s to Sub-Treasury................. io,449,ooo
24,9_94,97_j r

SYN D ICATE OPERATIONS N EAR IN G A
CLOSE.

ounces of standard United States gold coin to be ^
for in the Government 4 per cents, deliverable in return the
................................
$7,563,164 8
for said coin from time to time received; and the conTiie f oreg0ing indicates a balance still unpaid. It is
tracting bankers agreed to sell the said gold and to
possible that this apparent difference will turn
deliver the whole of it at some sub-treasury or legal Qut to b aVe been elsewhere settled. But the important
depository of the United States, and likewise to obtain fact to remember is that as yet only 14^ millions of the
in and ship from Europe at least one-half of the 3,500,- 32£ millions of gold to be received for the foreign half
000 ounces, at the rate of 300,000 ou n cesjer month, |of ^ loan appears in the Treasury accounts,
unless they should elect to ship it faster. No time is
fixed by the contract for its complete fulfillment except
PLEA FOR UNION PACIFIC.
Hupb aa ia found in the last-mentioned provision, which
. . .
.
constructively makes the date August 8th unless the
To one not knowing the tacts it would almost appear
bankera^conoerned should see fit to deliver the coin as if the Union Pacific Railroad had been suffering
Lrlier. No intimation has come from the Syndicate from wreckers, so rapid has been the progress made m
of a n , change made in the date of fnlfillment, but we dismembering the system. One * ra“ C*‘ h“
th„'
have received the information referred to above from other has been lopped off, until a la g p
have rewiTOd tne lniorm
productive value of the property as it stood a short
^Assum ing the statement to be oorrect, the settlement
will be made not later than the 15th of July. Of course
no special significance attaches to the change. The
importance it has to the public relates to matters of
small moment about which some cariosity is now felt.
When the settlement has been made the gold item in
the Treasury exhibit will be relieved of any doubt; and
t n o T S e t n the status of the *10,449,000 so
recently p a i d into the Sab-Treasury in behalf of the
Syndicate, which as yet does not appear in the Govern-




time since is gone, or at least has been, or is in process
of being, placed underthe.control o f .
Where this disintegration is to end is a senons ques
tion for the Government and the
Even the Oregon Short Line & Utah Northern,
aggregating 1,425 miles of road, the most impor
the branches remaining, was expected to have its oWn
receiver b,rthe end oiI tb s ^
judge in the Circuit Court at Salt
Ulty to I
I thorize the issuance of receivers certificates may,

1034

THE CHRONICLE

[V ol LX.

thought, hinder the receivers who have been ap­ might withdraw, but with that exception it was hoped
pointed from taking possession, payment of over-due quite confidently that the important lines could and
interest on the first mortgage debt being a prerequisite, would be retained. A general reorganization commit­
and that, it is claimed, is impossible without the use of tee was formed, consisting of such men as J. Pierreceivers certificates. This may be a temporary vic­ pont Morgan, A. A. H. Boissevain, Gen. Fitzgerald,
tory for the Union Pacific, but it is by no means cer- Henry L. Higginson, and others of equally high stand­
tein that the consolidated mortgage bondholders may ing. They outlined a plan for readjustment of the
not yet succeed in placing their receiver in possession. debts of the system and called for deposits of securities.
I f they do not it will require no small concession on They recognized that action by Congress authorizing
the part of the stockholders or creditors of the Union on fair terms a settlement of the claims of the Govern­
Pacific— the Government or some other creditors—-to ment was a sine qua non condition precedent to reor­
put the company in position to enable it to out-bid the ganization. For this then they strove diligently, and
consolidated mortgage bondholders when it comes to we are fully persuaded that the propositions they madeforeclosure sale. Otherwise they will on such sale looking to this end were all that could in reason be
wrest the road from the Union Pacific system.
offered, and more than can probably be secured now.
The outlook for the Union Pacific has thus become They were willing to agree to the refunding of the
grave.
Without the Oregon Short Line & Utah
entire amount of principal and inten st due the Gov­
Northern and the other roads previously detached, it ernment at 2 per cent interest, at which rate there
would be but the shadow of its former self— a road would yearly accrue to the Government over one and a
whose domain is restricted, except in so far as it may quarter million dollars, or more than would be suffi­
be somewhat broadened by traffic contracts with inde­ cient to provide for all interest on the Government's
pendent companies, to the territory between the Mis­ subsidy bonds when these shall be refunded, as they
souri River and Denver and Ogden. The rival compa­
presently will be at a low rate of interest. More than
nies for Colorado business run trains over their own
this, they proposed to make the debt to the Govern­
tracks direct to Chicago. The Union Pacific has
ment an absolute first mortgage, in place of merely a
always had to depend on a traffic alliance with another second lien as now, on the 1,822 miles of the Union
company for its Chicago connection east of the Missouri, Pacific main line, as well as allowing it to cover, subject
and now it stands in imminent danger of losing per­
to existing prior liens, the remainder of the subsidized
manently its great limbs— one 945 miles in length (ex­ road.
clusive of branches) stretching to Portland, Oregon, in
Unhappily, in some parts of the West there is a feel­
the Northwest and another 805 miles southwesterly to
ing more or less prevalent of antipathy to the com­
Port Worth, Texas.
Out of 7,691 miles operated
pany. The people are forgetful o f how much they owe
directly in October 1893 only 4,836 miles remain in
to the enterprise and seem to think that as it received
the jurisdiction of the Union Pacific receivers, and this
aid from the Government they have a right to expect
includes the Oregon Short Line, still in doubt, and
special favors in return. They rejoice in its embar­
also a great number of insignificant branches which
rassment and would be glad to have the Government
have little value except as feeders. The Union Pacific,
take the property and operate it itself. This sentiment
as every one knows, has immense equities in the sub­
was clearly shown by action, if not by words, during
sidiary companies that are being severed from it. To
the debate in Congress. The legislators insisted that
lose these lines permanently, as there is now great dan­
the company should pay larger interest on the loan
ger that it will, would not only cause the loss of
than it could possibly pay and satisfy other creditors,
these equities, but would so cripple the system as re­
an amount absolutely fatal to the idea of preserving
gards ability to compete for business that its earn­
the system. The Government directors too produced a.
ing power would be permanently and largely cur­
remarkable plan which proposed 3 per cent first
tailed.
mortgages on the system, into which the Government
It would be unfair to lay upon the last Congress the
loan should be funded at par, and for which the bonds
entire responsibility for the existing state of Union
of the company and the branch line bonds were to bo
Pacific affairs and the serious loss which it has occa­
exchanged at a very low rate— an idea based upon
sioned to investors. A struggle among the security
the impracticable assumption that the holders of first
holders was to be expected, and separate receiverships
mortgage bonds on roads owing nothing to the Govern­
for some of the branch lines were unavoidable; they
ment would consent to such sacrifices for the sake of
had been secured in some cases before Congress took
making the plan effective. The General Reorganiza­
the unfortunate stand it did respecting the subsidy
tion Committee was also handicapped by the existing
debt. But how different would be the outlook, how
sentiment, and though they made strong efforts to
much greater the chance of a reunited system, and
secure the desired legislation, Congress adjourned
how much less the loss entailed upon the holders of with the settlement no nearer than before it opened.
Union Pacific bonds, not to say stock, and to the sub­
The committee had failed at the outset of its
sidy debt itself, had Congress met the issue fairly and
work, a first essential step to success. They therefore
passed an act permitting the funding of the subsidy
returned the securities deposited under their plan and
debt on a reasonable basis, with a due regard for the disbanded. Their action was interpreted to mean
equities of all concerned. As it is, every day the ob­ that it was useless to seek to hold the system to­
stacles remain in the way of a reorganization of the gether in the face of the opposition in and out of
system as an entirety, they become more formidable and Congress. A disastrous fall took place in the prices of
less easily handled.
many of the company's bonds, other than the first
At the outset of the derangement when, in 1893, mortgage bonds, which are thoroughly secured, and
the company first sought the protection of the court the branch line bondholders went to work with a will to
and obtained the appointment of receivers, the break­ protect themselves, they naturally desiring to be so sit­
ing up of the system was by no means imminent. The uated that if the Government should hold to its narrow,
Oregon Railway & Navigation Company it was ftlt ui compromising policy, they would be able to taka




J un e 15, 1895.)

THE CHRONICLE

care of tnemselves by an alliance with some other sys­
tem or in some other way. This is the position to-day.
Plans for reorganization of the branch line companies
are, or soon will be, under consideration, but nothing
definite has been concluded concerning any except
that for the Oregon Railway & Navigation Company.
For that company it is announced a plan satisfactory
to the various interests has been prepared, though it
has not yet been given to the public. The Oregon
Short Line, the Union Pacific Denver & Gulf,and others,
are also preparing to bid a permanent farewell to the
Union Pacific interests, and many of them will do so
unless public sentiment in favor of a different policy
than has been hitherto followed can be brought to bear

1035

We do not suppose Congress appreciated that the
logical result of its course last spring would be the
falling to pieces of the entire Union Pacific system,
and with it the inflicting of great injustice to
investors here and abroad. Having seen the course of
events, may we not hope that a more creditable spirit
may be shown the old company next winter ? It may
be then too late, but that it may be not so we would
urge the several reorganization committees to proceed
a little slowly, so that if a favorable opportunity for a
compromise with the Union Pacific should offer they
may be able to take advantage of it. Certainly, other
things being equal, no company can better afford to
tender good terms to the branch lines than the Union
Pacific itself. And if it should prove too late to pre­
serve the system, we would impress upon Congress that
there will be all the more reason then for showing con­
sideration to the other creditors of the Union Pacific,
who will suffer for no fault of their own or of the
company.
____________ _

on Congress.
We feel that it is a crying shame in this day of prog­
ress that so grand a structure should by Congressional
unreasonableness be destined to destruction, its valu­
able equities in the branch lines be wiped out, and its
earning capacity be fatally crippled. Is it not a dis­
grace that this rich country should act the part not
only of the greedy but of a willful creditor, and in
THE C A N A D IA N “ SO O ” CAN AL .
response to a blind prejudice or in pursuance of a pur­
While the people of this city are making preparations
pose to secure a little higher interest on its own lien,
to celebrate in a fitting way the opening of the Harlem
sacrifice investors, trust funds, saving institutions and
-estates, which so largely hold Union Pacific bonds ? Ship Canal, Canada has this week formally opened her
Sault Ste Marie, or “ Soo,” Canal. Of course the lat­
We are not now referring to the stockholders— they
ter event is of much more importance than the former,
have rights too— but to the holders of Kansas Pacific
and has a wider bearing and significance. It furnishes
consols, the collateral trust bonds, and others, which rep­
another navigable pathway connecting the waters of
resent private capital loaned to the company to pay for
Lake Superior and Lake Huron— the other being that
branches, improvements, &c. Thesebonds ought not to
owned by this country— and it makes our northern
be made to suffer merely to redress wrongs claimed to
neighbor independent of the United States for facili­
have been perpetrated by parties connected with the
•original construction of the Pacific roads, or to get a ties of passage between the two lakes.
The opening of this Canadian water-way is interest­
little better settlement for the Government.
ing in view of the marvellous growth of traffic through
Take the Kansas Pacific consols, about which we
our own “ Soo ” canal, and also in view of the differ­
wrote a year ago— 6 per cent bonds, $11,724,000 of
ences which arose three years ago between this country
them, due in 1919, bonds for many years selling at a
and the Dominion regarding the question of tolls.
high price, and held by institutions and careful in­
Canada has a very extensive system of canals. By
vestors. They cover much property besides the 393
the Treaty of Washington, citizens of the United
miles of main line upon which they are a junior lien to
the Government claim; yet the neglect of Congress to States were given the use of the Welland, St. Lawrence
and other Canadian canals “ on terms of equality with
take suitable action regarding this claim has done
them great injury, causing them to sell at present the inhabitants of the Dominion,” and in return
about $70. In our article concerning them we figured Canadian subjects were to have the use of certain of
the interest on the debt to the Government at 2 per our own canals, more particularly the St. Mary s Falls
or “ Soo” Canal.
The arrangement worked satis­
•cent, this being the rate generally expected. The low
factorily
enough
until
1891. Then the Dominion
price of the bondsislikely causedin part by the fear that
Government by an Order in Council framed a rule
a higher rate than 2 per cent on the amount due the
-Government will be insisted upon. But in common whose operation was prejudicial to our citizens— in
with the other bonds of the company they are proba­ fact, sharply discrimated against them, instead of
bly far more affected by the fact that a breaking up of continuing the equality of treatment guaranteed by
The facts are well known but are worth
the property means for the dismembered trunk that re* the Treaty.
recalling. The tolls on shipments through the
mains greatly lessened earnings.
The task of reconciling the various interests repre­ Welland Canal were left at 20 cents a ton, but a rebate
sented by the securities of the subsidiary companies is of 18 cents was granted on shipments to Montreal for ex­
more difficult now than it probably would have been port or on trans-shipments to the same place if the
last spring. Congress must deal with the subsidy debt point of trans-shipment was within the Dominion. N o
in a spirit of great liberality if there is to be any rebate was allowed on products shipped to United
•chance of saving the system from lasting disruption. States ports, nor even on products carried to Montreal
We referred last week to the call for liberality in the if trans shipped at a port of the United States. In
case of the Central Pacific, and will not now repeat practical effect this meant that our citizens would
ourselves.
The same reasons apply to the Union have to pay 20 cents a ton on freight passing through
Pacific, but there are also others consequent upon the the Welland Canal but that citizens of Canada would
^peculiar circumstances in which the company is placed be taxed only 2 cents per ton. Our Government pro­
— its bankruptcy, its large holdings of stocks in sub­ tested against this as a violation of the clause in the
Treaty providing for “ terms of equality,” but notwith­
sidiary companies, the danger of these being lost to it
standing the protest the Canadian Government con­
¡through foreclosure of branch line mortgages, the
tinued the same system in effect, and then President
-weakness of the property without its branches.




1036

THE CHRONICLE.

Harrison sought authority from Congress to levy tolls
on Canadian shipments through the “ Soo.”
In response to this request an act was passed under
which the President was vested with authority to pro­
hibit absolutely shipments through the canal on the
part of any nation discriminating against the United
States, or at his option he could impose a toll running
as high as two dollars a ton on freight and five dollars
a head on passengers. The President decided in favor of
a toll of 20 cents per ton— precisely the amount of the
tax levied by Canada on shipments through the Welland
Canal and this toll was collected on and after Sep
tember 1, 1892. The next season the Dominion Gov­
ernment fixed the rate of tolls on shipments through
the Welland at the uniform figure of 10 cents, this to
apply to both American and Canadian shipments, and
as a consequence President Harrison by proclamation
dated February 21, 1893, removed the tolls on Cana­
dian shipments through the “ Soo,” which ended the
trouble.
The thought of a Canadian “ S oo” canal did not
arise out of this circumstance. The construction of
the canal had been determined upon long before, and
at the time of the difficulty with the United States
considerable money had already been spent upon the
enterprise. But that occurrence led the Government
to hasten the completion of the work, and now it has
reached its full fruition. Water was actually let into
the canal last September, but the formal opening has
been deferred until the present time. Of course the
Canadian Canal, like the American, is on the St. Mary’s
River, which joins the waters of Bake Superior and
Lake Huron— only it is on the Canadian side of
the river, while ours is on the United States
side. The river is not navigable . on account of the
numerous rapids, and it is to overcome this obstacle
that the canals
are
needful.
Our
“ Soo *>
canal is over a mile in length, and has a lock 515 feet
long and 80 feet wide, with a rise of about 18 feet.
Recent improvements provide for a larger lock, 800
feet long, 100 feet wide and with 21 feet of water on
the sills.
The Canadian canal is about two-thirds o f
a mile in length, with a mean width of 152 feet, and in
depth made suitable for navigation at mean water
level by vessels drawing 20 feet of water. There is
one lock 900 feet long and 60 feet wide, with a depth
of water on the sills of 20 feet 3 inches at the lowest
recorded water level. With the approaches the length
of the canal is 18,100 feet and its cost has been
between three and four million dollars.
The new canal, in providing a second water-way,
should still further stimulate the already marvellous
movement of traffic over the Great Lakes. There is
no parallel to the record of growth which the his'ory
of the United States canal discloses. In the following
we show the amount of freight in tons passing through
the canal for each year since 1881. This will indicate
at once the present magnitude of the traffic and the
striking way in which it has expanded.
COMMERCE THROUGH ST. MART’ S FALLS CANAL.

Tons.
1894............... ............... 13,195,860 1887.
1893...............
1886
1892...............
1885.
1891............... .............. 8,888,759 1884.
1890............... ............... 9,041,213 Igg3
1889............... ............... 7,’516)022 1882
1888...............
1881.

rV0L. LX

from April 17 to December 6. We will be better able
to appreciate the magnitude of the total when we com­
pare it with the freight movement through another
prominent canal— the Suez Canal. The “ Soo” Canal
is simply a channel connecting interior bodies of water;
the Suez Canal provides a water way for the commerce
of the whole world, and moreover accommodates the
largest vessels and is open all the year. Y et with all
these advantages the aggregate of the tonnage through
the Suez Canal in 1894 was only 8,039,106 tons,
whereas the tonnage of the St. Mary’ s Falls
Canal in the same year, as we have already
seen, was 13,195,860 tons.
In 1888, only six
years before, the tonnage of the “ Soo” was but 6,411,423. It is proper to say that the two principal items
of freight are iron ore and coal. Of ore the shipments
were 6,548,876 tons, and of coal 2,797,184 tons, making
together over 9£ million tons out of the total of 13,195,860 tons. But this still leaves nearly four million
tons of other items of freight—grain, lumber, &c. The
ore traffic during the six years has grown from 2,570,517 to 6,548,876 tons, and the coal traffic from 2,105,041 tons to 2,797,184 tons. In 1888 there was less
than two million tons of freight outside of the two
items mentioned, in 1894 almost four million tons.
Canada’s proportion of this total has not been large at
any time, and has latterly been declining. In 1887
the freight carried by Canadian vessels formed 7 per
cent of the whole, and in 1888 6 per cen t; in 1889 only
4 per cent, in 1890 3£ per cent, in 18914 per cent, in 1892
3'8 per cent and in 1893 4*1 per cent. The ratio for
1894 has not yet been made public. Applying these
ratios to the total tonnage for the same years, as given
above, we get the following, showing the absolute
amount of the Canadian tonnage in each year.
CANADIAN TONNAGE THROUGH ST. MART’ S FALLS CANAL.

Tons.
1893.....................................442,659
1892.....................................426,144
1891.....................................355,5*0
1890..................................... 316,442

„ __
Tons.
1899......................................300,640
1888...................................... 384,685
1887...................................... 384,625

Thus the absolute amount of tonnage has in no year
been quite 450,000 tons, though in 1893 the total got
pretty close to that figure. It is possible that with an
independent canal the movement may expand more de­
cidedly, but as Canada has only a small population and
no very extensive manufacturing industries, the growth
of her commerce through the water way, it would seem,
must necessarily be slow for some time to come. We
do not know whether it is the intention of the Cana­
dian Government to allow citizens of the United States
to use the new canal. We presume not.

F R E E S ILV E R A N D F A L S E FIGURES ,
N A TU R A L A L LIE S .
We have received the following letter from the pub­
lisher of a paper in one of the smaller cities of the
South.
---------- T im es ,
Editor F in a n c ia l Chr onicle .

---------, Mo., May 31, 1895.

D e ar Si r : W ill you please correct the figures in the en­
Tons.
closed slip, making the latter figures on prices o f to-day, and
5,494,649
4,527,75 • mail copy to me, if not asking too much of you.
3,256,628
Yours, truly,
2,874,557
2,267,105
2,029,521
The clipping to which our journalistic friend refers
1,567,741

Thus in 1894 no less than 13,195.860 tons of freight is as follows:
passed through the canal, being the largest annual
DO YOU SEE THE PO INT!
total ever reached— and this for a period of less than 8
Mr. Brown loaned Mr. Smith in 1888 $1,000 at 10 per cent
interest.
months, the canal having been open to navigation only
Each year Mr. Smith paid to Mr. Brown $100 interest.




J une 15, 1895.]

To pay this interest at that time Mr. Smith sold:
50 bushels of wheat,
or 165 bushels of oats,
or 125 bushels of corn,
or 250 pounds o f butter,
or 500 pounds of pork,
or 250 pounds of wool,
or 500 pounds o f cotton.
In 1893 the mortgage was renewed and the interest cut
down to 7 per cent, but poor Smith found, even at that re­
duced rate of interest, he was obliged to sell in order to raise
the $70 interest:
125 bushels of wheat,
or 300 bushels of oats,
or 265 bushels of corn,
or 535 pounds of butter,
or 1,100 pounds of pork,
or 450 pounds of wool,
or 1,000 pounds of cotton.
Smith may not know it, but it was the gold standard that
did him up.

Observe the style of this article, the caption given to
it, and the nature of the argument employed. See how
it appeals to the prejudice and the ignorance of the
agricultural classes. Note how it portrays a favorable
and an unfavorable situation, and how the change
from the one to the other is attributed to* the existence
of the gold standard, and how consequently the farmer
is encouraged to think that if only the country were
given free silver the status of things would be entirely
different— every one would be prosperous and happy.
The farmer is told that though he is obliged to pay
only 7 per cent interest on his loan now, whereas in
1888 he had to pay 10 per cent, yet that the price of
all his products has been so greatly depreciated that it
takes from two to three times the quantity of one of
these products to meet the $70 annual interest now re­
quired that it did the $100 required on the same loan
at the earlier date. Of course the farmer knows that
at some time in the past he has received much higher
prices for what he raises than those now ruling, and he
is consequently inclined to accept without question
both the figures set before him with such a show of
plausibility and also the reasoning built upon them.
But let us examine a little into the results given.
The article asserts that the planter could in 1888 pay
an annual interest debt of $i00 with 500 lbs. of cot­
ton. What does that statement imply ? It implies
that the planter was able to realize 20 cents a pound
for his cotton in 1888. How far from the truth this
is will appear when we say that the price of cot­
ton even here in New York (not to speak of the price
on the plantations) has not ruled as high as 20 cents a
pound at any time for twenty-two years— not since
1873. As a matter of fact the average at this point
for the whole year 1888 was less than 10 cents a pound
— actually only 9f- cents— so that it took not 500 lbs.
of cotton to pay an interest debt of $100, but
1,000 lbs.
So in the case of the other articles selected. The
writer says that 50 bushels of wheat sufficed to pay an
interest charge of $100. That would make the price
of wheat per bushel two dollars, which is absurd— we
say absurd because, though the price at Chicago did
touch $2 towards the close of September 1888, that
was a mere momentary quotation caused by a corner in
September contracts at that point. The price dropped
quickly back, and the average at Chicago for the year
was but 88£ cents. According to the statistics of the
New Y ork Produce Exchange the average price of
wheat in New York in 1888 was 97£ cents. On this
lattei average it would require over one hundred bush­
els to meet a charge of $100 per annum. For oats to
make 165 bushels equal to $100, the price per bushel
would have to be over 60 cents; the actual average on




1037

THE CHRONICLE.

the Produce Exchange in the year 1888 was only 35£
cents, in Chicago but 28£ cents. Corn would have to
sell at 80 cents a bushel to give 125 bushels a debt-pay­
ing power of $100; the average for that cereal in NeW
York in 1888 was but 57 5-16 cents, at Chicago only 46£
cents. Butter we are to understand sold at 40 cents a
pound in the year taken, so that 250 pounds sufficed to
square an interest account of $100; but the records of
our Produce Exchange show that the average here for
State dairy, good to'fancy brands, was only 20 11-16®
24 5-16 cents. What taxes our credulity most of all,
however, is that we are asked to believe that 500 lbs. of
pork had a market value of $100, making the price
per pound 20 cents. The actual average price in New
York in the year in question (taking mess pork as a
basis) was only 7*35 cents to 7’73 cents. Eor wool, too,
the average above works out higher than the market
price in the year referred to. It is well to point out,
moreover, that in the case of all these articles, with
the exception of wool, the average prices were higher
for 1888 than for the years immediately preceding. In
the following we compare the false prices for 1888 with
the actual market prices in New York in that year,
adding also the averages for 1887:
AYERAGE TEAHLY FBICES IN NEW YORK.

,----------18 8 8 ----------False
Actual
prices,, Average.
Cents.
Cents.
Wheat, No. 2 red winter, per hush. $2'00
97*8
35^
Oats, No. 2 m ixed.. . . . . . . . “
*60
57519
Corn, No. 2 Western mixed, “
‘80
Butter, State dairy*............... perlh. *40 20lli6®246ia
Pork, mess.................................
“ *20 7'35 ® 7 ‘73
34
Wool, washed Ohio, medium.
“
*40
Cotton, lowmiddlinguplands **
'20
9^8

Average
prices in
1887.
Cents.
88
343la®347,a
5 0 's '®5114
1838 ®2316la
7-26 ® 7’75
37

9<%

* Good to fancy brands.

If now we apply the actual prices for 1888 in place
of the false prices, we find that to pay $100 in that
year, it took 1,300 pounds of pork instead of only
500 pounds, that it took 430 pounds of butter instead
of 250 pounds, that it required 280 bushels of oats
instead of 165, 175 bushels of corn instead of 125i
1,000 pounds of cotton instead of 500, etc. Below
we show these contrasts in tabular form.
PRODUCT REQUIRED TO PAY $100 IN 1888.

W heat.......................................... 108 bushels Instead of SO
Oats..".".” ........................................ 280
“
Corn.................................................. 175
«
B u tter........................................
430 pounds
Porlc.......... ........................................ 1,300
11
W ool.................................................. 300
«
C otton ......................
......1 ,0 0 0
“

“
“
“
11
“
“

165
125
250
500
250
500

These calculations, it is important to bear in mind,
are on the basis of the market prices here at New
York, and therefore include all the transportation
charges from point of production. The price on the
farm and the plantation would of course be less, so
that on the basis of return to the producer it would take
in each case a very much larger quantity of products to
pay a given sum than that shown in the above calcula­
tions— making the discrepancy between the real and
the false figures all the more glaring.
Of course what
the planter or the farmer would get in each case would
depend upon his nearness to the railroad and his dis­
tance from the great consuming and distributing centres.
Hence the results would vary for different sections and
different places. The foregoing will suffice to show,
however, how utterly at variance with the truth the
statements in the article we have quoted are they
being not merely deceptive and misleading, but posIitively wroDg.
And this is not an isolated instance. It is a good
sample of the class of literature which is doing service

1038

THE CHRONICLE.

[ V o l . LX.

in the cause of free silver. Undoubtedly the silver only one case does it require a larger amount of cooT
party has many adherents who are both honest and modities to settle an interest charge of $70 i i 1895
sincere, and who would scorn to resort to dishonest than an interest charge of $100 in 1888. The excep­
methods. Yet it is a fact that there is more of false­ tion is wool, and there special causes have latterly
hood than of truth in most of the statements and figures been operative to force a decline in price. In the case
put forth by the free silver advocates. And it is these
of cotton, the same quantity is required in each
false and erroneous statements that are doiag so much period, namely 1,000 pounds, the price of cotton now
mischief. They seldom get outside the place of their being about 7 cents and in 1888 having averaged
origin, and there they are accepted by those to
nearly 10 cents. In the five other cases a
whose self interest they appeal, and who do not stop to
greatly reduced amount
of commodities is re­
inquire into their accuracy. The farmer and the
quired.
Of course, if the calculations had been
planter have reason to know that they are getting less made on the basis of prices ruling in January of thi3
for their products than at some time in the past, and
year, the showing would be much less favorable. But
in the circumstances it is not surprising that any state­
those prices were the result of the doubt regarding
ment or set of figures which starts with that fact, or
our currency— and in fact the low range of values
purports to be based upon it, should readily pass as in ruling during the whole of the last two years may be
all respects genuine, and not be looked upon as wholly
ascribed in a large part to the same circumstance.
or in part spurious.
Since the making of the Syndicate contract, the im­
The writer of the article which is the subject of our provement in values has been general and widespread.
remarks has unwittingly rendered a service in directing
Aud this improvement may reasonably be expected to
attention to a factor in the situation of the debtor
continue, so that the farmer must become steadily
classes that is generally ignored or overlooked. We
better off— provided only that confidence is not again
refer to the lower interest rates which the producer is
disturbed by the silver agitation. It is therefore in
obliged to pay now as compared with earlier periods.
the highest degree important that the agricultural
It is generally admitted that if on the one hand the classes should not be deluded or seduced into sup­
farmer realizes less for his products, on the other hand
porting free silver by false figures such as we have
he gets at least partial compensation in being able to exposed above.
buy the necessaries of life at a much lower cost; he can
procure his farming implements for very much les3
money, while clothes, carpets, kitchen utensils and gen­ R A IL R O A D GROSS EAR N IN G S FOR M AY.
eral furniture have all been greatly cheapened in price.
Kailroad gross earnings are making better com­
We say this is admitted. But it is no less true that parisons each month, just as expected. For the month
interest rates on mortgage loans are also much of May our compilations presented to-day show a gain
lower as compared with former periods, so if the pur­ of $2,361,407, or 6‘38 per cent. We noted in reviewing
chasing price of the dollar has increased, the borrower the statement for April that the exhibit then had been
is required to pay less of such dollars for interest on a the best in nearly two years. Bat the increase for
given amount of debt.
that month was much less than for the present month,
Interest rates at the interior continue of course above having been only $1,639,344, or 4*65 per cent.
How­
those ruling at the great monetary centres, but of the ever, for April we were comparing with figures in 1894
fact that there has been a reduction in them there can which showed a loss of only $6,084,703, or I4 86 per
be no doubt. W^hat the reduction may be in any par­ cent, while now for May we are comparing with re­
ticular State or section we should not like to say off sults in 1894 which showed a loss of as much as
hand, but accepting the statement in the above extract $7,782,001, or 17*55 per cent.
that the farmer paid 10 per cent in 1888 and only 7
As a matter of fact, May last year * was one of the
per cent in 1893, it will be interesting to see what effect very worst months ever experienced by the railroad in­
this has on the quantities of goods required to meet the dustry. To the ordinary depressing influences— such
interest in the two periods. In the following we com­ as trade prostration, the disturbed condition of the
pare the quantity of each of several products, as given United States Treasury, the tariff agitation, &c.—
above, which it would take to settle a debt of $100 in there were added a number of special unsettling
1888 with the quantity required to pay a debt of $70 agencies of large magnitude. The principal one of
in 1893. We use New York values for this purpose, these was the strike of the bituminous coal miners.
as prices on the farm are not available and would With few exceptions this involved all the bituminous
necessarily vary according to the location of the farm. mines in the country. Not only did it cut off the coal
We also add a column to show the results for 1895 ; traffic of the roads, but in depriving many establish­
there has been a general rise in prices within the last ments in various parts of the country of the necessary
few months, but taking the selected commodities given, supply of fuel, it compelled a general closing down of
only wheat and corn are higher now than the averages these establishments. The iron industry in particular
for 1893.
was brought almost to a standstill. Then there were
Product required to pay
very extensive and unusual floods in various parts of
$100
------------ $70----------- v
in 1888.
in 1893.
in 1895.
the country— in Pennsylvania, New York, &c., and in
Wheat, bu sh els........................... 103
gg
g5
Colorado, Oregon, Washington, Montana, British
° a^8»
“
- - - - - ....................... 280
194
205
Corn>
“
175
140
120
Columbia, &c.— interrupting railroad operations and
Butter, pounds............................... 430
300
370
doing much damage generally. The Coxey movement,
Pork>
“
1,300
770
1,000
Wool,
“
300
240
370
attended by the stealing of trains, was not so much of
Cotton
“
1,000
850
1,000
a factor as it had been in the previous month. But
Assuming the reduction in interest to be correct, railroad rates were very badly demoralized nearly
the position of the farmer is found to be less unfortu­ everywhere.
nate than has generally been supposed, especially if we
That in view of all these circumstances and the
take into consideration the reduced cost of living. In heavy losses in earnings which they occasioned last




1039

THE OHKONIOLE.

J une 15, 1895.]

RECEIPTS AT CHICAGO DDRING MAY AND SINCE JANDARY 1 .
year, the recovery the present year should have been
comparatively so small is evidence that the unfavora­
Since January 1.
May.
ble influences in the situation, to which we have so
1891.
1893.
1895.
1894.
1893.
1895.
410,727
468,182 2,390,513 2,313,255 4,587,142 17,976,728
many times referred, and more particularly the effects Wheat.bush.
6,416,736 5,159,357 4,809,902 18,582,225 33,454,855 19,598,301
Corn...bush.
of last season’s short crops, are still potent factors. It O ats.. bush. 7,752,335 7,212,144 7,041,133 24,122,442 28,400,274 24,962,891
74,686
640,154
134,842
98,611
700,323
611,223
deserves to be mentioned, however, that the grain R ye., .bush.
341,509
449,664 3,905,345 4.294,83!
6,050,084
298,068
Barley.bush.
movement compares well with a year ago this time. Total grain 15,056,149 13,212,437 14,789,813 49,626,590 71,348,33. 68.2 3.161
3C4,991
411,052
2,113.1 IS
211,989
1,243.088 1,929 73;
But that is due to the fact that the advances in the Flour., bbls.
1,! 5L
1,523
4,240
•2,901
970
162
Pork....bbls.
prices of cereals operated to draw out old supplies. It Cutm’ts.lbs. 11,732,835 12,107,813 12,712,686 69,345,376 53,686,54; 46,037,219
did not and could not make good last year’s shortage, Lard...... lbs. 3,519,450 6,032,518 5,398,624 23,635,865 30,235,862 20,775,275
463,897 3,540,577 3,103,037 2.274,646
674,864
573,187
ljive hogsNo
nor did it tend to mitigate the destitution in those
With regard to the cotton movement in the South
sections where the crop had been a complete failure
the shipments overland amounted to 62,705 bales
and where by reason of such destitution the buying
against 51,136 bale3, and the receipts at the Southern
and consumptive requirements of the population were
outports reached 116,225 bales against 89,895 bales.
so greatly reduced. We fiad that for the five weeks
RECEIPTS OF COTTON AT SODTHERN PORTS IN MAY, AND FROM JAND
ending June 1 the receipts of wheat at the Western
ARY 1 TO MAY 31, IN 1895, 1894 AND 1893.
primary markets were 8,305,178 bushels in 1895, against
Since January i .
May.
Ports.
6,851,058 bushels in 1894, and the receipts of oats
1894.
1893.
1895.
1863.
1894.
1896.
13,845,675 bushels, against 13,198,240 bushels, while G alveston.............. bales. 14,564 6,814 10,8S6 433,408 190,151 2! 8.881
12,547
18,551
5,036
29,271
3,779
3,192
the corn movement was close up to that for 1894, the V e’ asco, &c....................
42.369 902,342 570,953 53C.234
28,150
55,106
New Orleans.....................
receipts being 10,228,091 bushels, against 11,550,136 Mobile................................
52,178
35.268
3,261
71,4 3
2, £89
2,699
10,082
6,981
46
9,026
768
356
bushels. Still the grain movement as a whole varied Florida............................... 13.897
211.509
160,400
17,239
18,331 243,849
Savannah..........................
46,674
12,707
46,476
10,855
1.809
considerably in the different sections. Not all the
68,570
40,569
5,0(59 113,609
1,975
3,470
points participated in the gain in wheat, while in the Charleston........................
34,713
103
2
78.251
4,881
5,893
Port Royal, &c...............
29,588
19,107
33,614
1,090
49;
228
case of corn St. Louis had receipts of only 593,880 Wilmington......................
177
126
63
Washington, &c ...........
bushels in the five weeks in 1895, against 3,449,915 Norfolk.............................. 10,487 9,374 10,718 145,996 139,48ft 85,250
85,777
95,423
91,701
2,919
6.136
4,574
bushels in the five weeks of 1894.
The following W est Point, &c..............
89.896 10'.934 2,202,804 1,448.211 1,154,065
116,275
T otal......................
gives full particulars of the grain receipts:
We have stated above that last year our compilations
RECEIPTS OP PLODS AND GRAIN FOR JIVE WEEKS ENDING JDNE 1
AND SINCE JANDARY 1.
showedaloss in earnings in the large sum of $7,782,001
or 17*55 per cent. The following carries the compari­
Oats,
Barley,
Corn,
Ryt,
Wheal,
Flow,
(bush.)
(bush.)
(bush.)
(bush.i
(bush.)
(bbls.)
sons back for a number of years.________________

Chicago—

241,543
5 wks. May, 1895
346,381
6 wks. May, 1894
Since Jan. 1,1895 1,255,187
Since Jan. 1,1894 1,955,655
MilwauK‘ e—
203,240
5 wks. May, 1895
237,100
5 wks. May, 1894
647,430
Since Jan. 1,1895
947,770
Since Jan. 1,1894

St. Louis—

5 wks. May, 1895
5 wks. May, 1894
Since Jan. 1,1895
Since Jan. 1,1894

Toledo—

90,811
117,720
411,961
520,501

392,357
475,077 7,147,819 8,437,357
345,118
526,487 6,147,026 8,201,374
2,359,635 19,142,435 24,438,927 3,959,044
29,046,604
4,325,429
4,621,618 34,211,625

153,242
87,418
710,878
eie,673

1.368.000
292,650
242,410
1.238.000
3.456.000 1,974,287
2.895.000 3,609,480

98,730
76,286
322,092
447,965

729,552
879,650
2,601,859
3,817,465

113.900
209,300
552,450
729.900

818,180
593,880
854,172
203 175 3,449.915 1,135,130
1,369,492 3,611,860 2,959,015
1,348,726 15,612,439 4,268,625

20,271
12,763
613,771
557,600

3,378
8,738
44.279
64,141
8,900
5.300
20,800
30,700

5,933
6,183
27,559
38,876

559,500
393,300
2,118,100
2,072,600

393.000
182.000
2,484,400
2,487,200

29,800
8.500
79,500
48,200

9,600
6<i0
3 *,600
5,800

15.606
11,879
56,i3U
60,774

230,878
143,051
909,194
1,791,023

81,224
103.377
971,813
672,094

168,484
149,075
639,831
634,752

44,833
8,375
213,9j 3
262,793

49,674
31,520
223,816
126,772

357,087
198.391
1,323401
695,158

98.781
51.043
628,244
270,131

121,654
200,751
825,a48

3,750

49,350
21,600
153,525
106,900

127,800
57,050
305,85i
236,450

1,653.380
1,061,640
5,8^7,79
7,511,720

2,832,40;
2,208.001'
6.873,300
7,427,800

39,900
30,100
774.400
545.401

698,489
5 wks. May, 1895
825.938
5 wks. May, 189i
918,576
Since Jan. 1,1895
Since Jan. 1,1894 1,287,681

1,807,101
534.801
7,846.930
5,192,48:'

1,322
95,928

66,800
43,339
274,797
55,106

25,581
1,271

3,073,490
3.745,850
14,220,380
16,881,610

114.360
302.360
449,355
960,99

90,591
172.801
214,149
1,505,826

27,647
42,133
171,937
268,647

5 wks. May, 1895
5 wks. May, 1894
Since Jan. 1,1895
Since Jan. 1,1894

Detroit—

5 wks. May, 1895
5 wks. May. 1894
Since Jan. 1,1895
Since Jan. 1,1894

Oleoelana

5 wks. May, 1895
5 wks. May, 1891
Since Jan. 1,1895
Since Jan. 1,1894

Peoria—

5 wks. May, 1895
5 wks. May, 1894
Since Jan. 1,1895
Since Jan. 1,1894

Duluth—

Minneavolis—

5 wks. May, 1895
5 wks. May, 1894
Since Jan. 1,1895
Since Jan. 1,1894

Kansas City—

5 wks. May, 1895
5 wks. May, 1894
Since Jan. 1,1895
Since J a n .l, 1894

Total of all—

5 wks. May, 1895
5 wks. May, 1894
Since Jan. 1,1895
Since Jan. 1.1894

•••• •••

1,352.546 8,305,178 10,228,091
1,597,821 6,8 U,058 11,550,136
3,693,293 33,097,030 33 811,334
5,044.929 37,656,456 62,820,677

94,6.9
20,507
12,600
7,200
40.8 Mi
65,400

2,416

14,07 i
30,984
51,690
13,845,675
805,807
13,198.240
639,383
39.578,302 7,696,235
45,103,674 9,328,180

276,85
184,93
1,138,84
1,224,87

Chicago is the point which seems to have profited
most by the large movement, and for the even month
our statement shows receipts of 15,056,149 bushels
against 13,212,437 bushels in 1894, as will be seen by
the following statement. The same table also shows
the receipts of live hogs and provisions, according to
which it appears that while the provisions movement
was smaller than in 1894 the deliveries of live hogs
were larger, reaching 674,864 head against 573,187
head.




Mileage.

Darnings.

Tear
Preceding.

Tear
Given.

May.

Tear
Given.
Miles.

Miles.

1891 (137 roads)........
1892 <143 roads)........
1893 (137 roads).......
1694 (121 roads).......
1895 «132 roads)........

87,220
96,429
95,809
98,953
100,273

84,525
93,874
94,122
90,531
100,178

S
36,774.414
39,007.824
43,074,051
36.561/50
39,391,432

Jan. 1 to May 31.
1891 (137 roads)......
1892 142 roads)....
1893(135 toads)......
1894 (129 roads).......
1895 (131 roads).......

87,220
96,325
95,703
98,953
100,253

84,525
93,769
94,016
96,531
100,158

180,042.038
204,1! 6,016
219,740,879
181,666,003
189,690,197

Tear
Preceding

Increase
or
Deere, sit.

f
*
36.655,029 Inc. 119,37«
88,242,992 The. 824,832
31,5i6,P77 Inc. 3,537,074
44,343,051 De\ 7,782,001
37,030,025 Inc. 2,361.407
172,712,257
191,520,058
211,575,015
211,394,392
185,603,675

Inc. 7,329,781
Inc. 12,596,958
Inc 8,165.864
Dec. 29,728.389
Inc. 4,083,522

Some of the roads have quite substantial gains,
though the amounts, as a rule, are small alongside of
last year’s heavy losses. The New York Central leads
with an increase of $303,263, the Chesapeake & Ohio
comes next with $261,210 increase, then the Atchison
(which now no longer embraces results on the Colorado
Midland) with $193,229 increase, the Great Northern
with $187,859 increase, the Illinois Central with $177,339, the Buffalo Rochester & Pittsburg with $136,140,
the Cleveland Cincinnati Chicago & St. Louis with
$133,269, the Wabash with $129,575, the Northern
Pacific with $125,116, &e. The losses are not very
numerous, but there are a few which are conspicuous
for their magnitude.
The Norfolk & Western has
sustained a decrease in amount of $312,362. Last year
this road was practically the only large system whose
lines were unaffected by the bituminous coal strike;
this year it stands alone in having a strike on its lines.
The comparison between such extremes furnishes the
reason for the present large decrease in earniDgs. Other
roads which have sustained a heavy falling off are the
Rock Island, $209,562; the St. Paul, $115,621; the
Kansas City Fort Scott & Memphis, $52,633; the St.
Jtseph & Grand Island, $32,600; the New York On­
tario & Western, $31,590, and the Canadian Pacific.,
$30,489. All these roads have suffered from last year’ s

1040

THE CHRONICLE.

crop shortage except the New York Ontario & West­
ern, which has suffered from the poor condition of the
anthracite coal trade.

[ V o l . LX.
EARNINGS OF SOUTHERN GROUP.

May.

1895.

1894.

1893.

*

$

«

Ches. Sc Ohio........
833,010 . 571,800
868,120
Kan.C.Mem.&Bir. a 80,165
«66,017
71,802
Louis V. Sc Nashv. 1,505,485 1.481,469 1,761,613
Memphis & Char..
91,962
101,353
107,808
Mobile Sc O h io....
294,465
260,012
290,426
388,065
N’sh.Ch’t.A S t.L ..
358,646
414,376
Norfolk Sc West.b
533.261 *845,623
929,314
Southern R 'w a y.. 1,371,097 1,298,667 1,511,434

PRINCIPAL CHANGES IN G R O S S EARNINGS IN IRA Y,
In creases.
In crea ses.

1892.

1391.

1890.

$
«
744,455 +720,825
81,212
89,929
1,707,078 1,496,504
97,498
110,752
263,480
276,177
418,117
305,378
769,552
764,819
1,465,043 1,587,455

«
640,997
86,589
1,577,216
143,051
298,792
298,030
707,679

N. Y. Central................. $303,263 Mobile & O h io .............
$34,453
Chesapeake & Ohio.......
261,210 Missouri Paciflo............
34,304
Atoh.Top.&S.Fe(3r’ds)
193,229 Lake Erie <feWestern...
31,884
Great Northern (3 r’ds)
187,859 W. Ya. Cent. & P itts...
31,963
___
177,339 Denver & Rio Grande..
Illinois Central
31,000
Buffalo Roch. & Pitts..
136,140 Grand Trunk.................
30,734
Clev. Cin. Chic. & St. L.
133,269 Chioago Great Western
30,515
Wahash..........................
129,575 Ches. Ohio & Southw...
30,434
T o ta l........ ...
5.097,510 4,983,587 5,949.413 5,547.033 5,351,839
Northern P a ciflo ........
125,116
Chicago & East Illinois.
92,357
a Figures here fo r 1895 and 1894 are simply the totals o f the earnings fo r th e
Total (representing
Mo. Kansas <feT exas...
91,590
41 roads)............$2,721,972 fou r weeks o f the m onth as reported in the weekly re tu rn ; the m onth’s e a rn ­
ings usually exceed the weekly estimates quite considerably.
Western N. Y. & Penn..
82,334
D e c r e a se s.
b Including Scioto V alley Sc New England and Shenandoah V alley fo r all th e
Pitts. & West’n (3 r’ds).
78,579 Norfolk & Western....... $312,362 years.
Southern Railway........
72,430 Chic. R ocklsl. & P ac...
209,562
t Does not include the Elizabethtown Lexington & Big Sandy road in this and
Cin.N.O. &T.P. (5r’ds)*
65,000 Chic. Milw. & St. Paul..
115,621 preceding years.
St. Louis Southwestern.
54,195 Kan. City Ft. S. & M ...
* Figures are approximate, same as fo rth is y e a r; actual earnings were larger.
52,633
Duluth 8o. Sh. & A t l...
50,370 8t. Joseph & Gd. Island
32,600
In the Southwest a few of the grain-carrying roads,
Tol. 8t. L. & Kan. City.
42,932 N. Y. Ontario & West’n.
.31,590
Mexican Railway..........
41,095 Canadian Paeiflo..........
30,489 like the Fort Scott & Memphis, the St. Joseph &
Intem at’l & Gt. North.
39,799
Chicago Peoria & St. L . .
37,945
Total (representing
Clev. Lorain & Wheel’g.
35,938
7 roads)................. $784,857 Grand Island, the St. Louis & San Francis co, &c.,
Balt. & Ohio Southw’n.
35,121
continue to run beh in d; the rest show improvement
* For three weeks.

over a year ago, though the earnings still fall far short
The roads in the Middle and Middle Western States of those of two years ago as a rule.
present on the whole the best comparisons. This arises
EARNINGS OF SOUTHWESTERN GROUP.
out of the fact that these roads last year were most
May.
1895.
1894.
1893.
1892.
1891.
1390.
affected by the coal strike and hence now record the
»
$
1
$
$
8
.T .& S .F ..*
3,241,004 3,047,775 *4,366,298 8,770,640 3,619,145 3,701,402
largest recovery. Out of 56 roads in that section, ADen.&RioGr.
564,000
533,000
757,717
685,495
681,827
756,548
only 7 report decreases the present year, while 49 have Int. Sc Gt, No.
257,096
$17,287
300,152
207,242
279,076
283,312
K.C.F.S.&M.+
a 355,730
417,601
419,984
893,132
460,311
gains. From the following summary for six years it Mo. K. Sc Tex. a 308,097
781,120
089,530
830,227
748,825
708,780
703,240
Mo.P.&Ir.Mt.
1,904,000
1,869,696
2,119,909
1,908,384
1,916,496
will be observed that the roads embraced in the same
St. Jos.&Gr.I.
48,294
80,894
96,047
81,299
64,816
122,303
had their earnings in the aggregate cut down from St.L. Southw.
349,900
295,705
368,900
303,382
285,374
290,927
Texas Sc Pac.
477,111
470,237
514,972
411,642
502,903
460,046
$6,319,109 in 1893 to $4,572,843 in 1894, but that now
Total...........
7,925,612 7,559,854 9,837,823 8.594,893 8.408.091
there has been a recovery to $5,388,091.
,t Includes the Kansas City Clinton & Springfield and the Current R iv e r fo r
EARNINGS OF MIDDLE AND MIDDLE WESTERN ROADS.

May.

1895.

1894.

1893.

1892.

1891.

1890.

«
*
f
t
I
$
Buff. R och. Sc Pitt.
307,951
94,867
231,007
268,592
242,944
194,601
Ghioago &East. 111.
360,150
257,985
165,628
299,012
234,313
240,415
174,634
Ohio. Sc W est Mich. al24,912 «110,725
160,717
140,389
143,818
104,836
245,411
124,842
Col. H . V . & T o l...
287,264
231,504
259,153
a90,166
«77 450
101,061
Det. Lansing & N o.
93,761
95,922
97,299
79,769
104,132
87,338
Bvansv.&Terre H.
100,331
89,484
84,369
Flint & P . M arq....
208,091
187,781
258,611
218,596
214,450
247,456
Or. R ap.& ln d........
191,955
270,751
209,088
251,548
230,214
266,448
Illinois C entral.... 1,605,209 1,427,870 1,739,507 1,458,354 1,423,573 1,808,898
291,431
259,547
Lake Erie & W est.
302,680
251,429
253,063
257,192
363,141
371,301
Long Island...........
385,611
359,255
352,789
329,252
Lou.Evans.& St.L.
120,678
108,940
138,217
107,901
125,748
106,511
248,605
Louis. N.A. & Chic.
228,476
298,573
230,915
258,498
214,966
314,891
N. Y . Ont. & West.
346,481
322,482
806,118
240,309
190,100
253,454
Pittsb’g Sc W est’n.
174,875
249,146
198,949
187,801
196,295
97,430
Bt. L. A lt. & T. H . .
73,830
128,907
106,416
106,062
101,774
84,761
Vol. A nn Ar.&N.M .
75,693
86,249
82,978
84,758
93,340
87,964
Vol. Sc Ohio Cent.ib
73,186
142,699
152,562
125,095
145,723
86,264
Tol. P eo.& W est..
58,628
74,641
72,010
76,345
70,268
Tol. 8 t.L . & K . C..
156,564
113,632
168,205
138,422
105,884
134,766
264,900
W e s t.N .Y .& Pa..
182,566
320,441
280,825
294,149
297,270
72,370
W heel. & L. E rie..
64,857
139,050
129,640
98,214
104,097
Total.................

5,381,091 4,672,843 6.319,109 6,584,812 5,248,174 5,084,183

b Includes Toledo Columbus Sc Cincinnati fo r all the years.
a Figures here for 1895 and 1894 are simply the totals o f the earnings fo r the

fou r weeks o f the m onth as reported in the weekly returns; the m onth’s earnngs usually exceed the weekly estim ates quite considerably.

all the years except 1890.
a Figures here fo r 1895 and 1894 are simply the totals o f the earnings fo r th e
four weeks o f the month as reported in the weekly return ; the m onth’s earn­
ings usually exceed the weekly estimates quite considerably.
* Colorado Midland deducted from all years except 1893, fo r which year we
have been unable to obtain the figures separately.

In the Northwest, on account of the crop shortage,
the returns on the whole are poorer than anywhere
else; still even here gains come from such prominent
roads as the Great Northern, the Burlington Cedar
Rapids & Northern, the Chicago Great Western, the
Minneapolis & St. Louis, &c. In the following the
aggregate for 1895 falls a little short of that for 1894.
EARNINGS OF NORTHWESTERN LINES.

May.

1895.

1894.

1893.

8

8

8

292,476
Burl.Ced.R.& No.
286,659
310,857
298,471
Chic. Gt. W e s t....
267,956
353,592
Ohic.M il.&St.P. )
2,144,093 2,259,7141 2,540,294
Milwau.&No.. 5
101,282
Chic. R . I. Sc Pac. 1,167,218 1,376,775 1,610,757
193,8,73
Duluth S.S.& A tl.
143,503
184,613
Gr. Northern....... 1,231,301 1,043,442 1,145,493
127,541
Iowa Central......
125,420
165,147
Minn.& St. Louis.
163,607
140,940
148,916
St. Paul & Duluth
117,470
140,088
158,883
T o ta l...............

5,720,045

1892.

1891.

1890.

$
8
i
277,460
261,828
231,856
800,987
373,089
359,189
2,251,619 2,097,548 2,000,254
131,700
120,993
143,972
. 1,250,896 1,281,798 1,591,850
205,060
172,867
228,796
992,168 1,024,956
910,398
123,508
106,320
127,452
138,575
134,275
105,268
129,930
170,948
126,040

5.784,453 6,769,833 5,866,516 5,744,622 5,824,02

The leading East and West trunk lines are not in­
Among the Pacific roads, the Canadian Pacific has
cluded in the foregoing. The results for these (so far a small loss, the Northern Pacific a considerable
as they have reported) are much the same as for the gain; both roads are far behind their best previous
other roads. The lines embraced in the following totals.
EARNINGS OF PACIFIC ROADS.
show earnings of $9,038,260 for 1893, $7,618,529 for
1894 and $8,240,692 for 1895.
May.
1895.
1894.
1893.
1892.
1891.
1890.
Can. Pacific........
North’n P a cific..
Rio Gr. W est’n...

8
8
1,420,000 1,450,489
1,322,592 1,197,476
201,950
190,600

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

2,944,542 2.844,565

EARNINGS OF TRUNK LINES.

May.

1895.

1894.

1893.

1892.

$

$

I

«

B. Sc O. S.W 1 488,224
Oh. ScMiss.
C.C.C.&St.L 1,153,353
1,644,301
G .T .o f Cant
271,538
Ch.& G.T.*
88,391
D.G.H&M*
N.Y.C.&H.+ 3,608,066
986,819
W abash.. ..
Total........

8,240.092

1891.

453,103 (
'
1,020,084
1,613,567
283,854
85,874
3,304,803
857,244

192,763
817,648
1,184,765
1,793,146
334,285
103,140
4,001,013
1,110,904

192,142
310,116
1,097,354
1,770,209
838,528
103,002
3,648,403
955,369

$
187,830
832,703
1,020,723
1,694,201
303,645
94,752
3,474,437
1,038,647

7,618.629

9,038,260

8,416,183

8,152,938

1890.
$
176,466
862.001
1,118,853
1,805,552
345,293
90,138
3,435,550
937,784
8,331,637

4 For five weeks ended June 1.
t Includes Home W atertown Sc Ogdensburg fo r all the years.

Southern roads quite generally record improved
exhibits, but on account of the heavy loss on the N or­
folk & Westerr^the result in the following is but little
better than a year ago.




8
8
8
8
1,605,542 1,702,024 1,602,920 1,396,350
1,891,986 1,784,375 1,902,771 1,964,771
214,102
217,895
204,956
168,047
3,711,030 3,644,894 3,710,047 3,528,768

GROSS EARNINGS AND MILEAGE IN MAY.
Qrots Earning».
Kamt o f Road.
1895.
Atch. T.<fc 8. Fe Sys...
St. L. <feS. Fran. 8y s..
Atlantic & Pacific..
Atlantic & D anville.
Balt.& Ohio Southw. .
Birm’ham & Atlantic
Brooklyn Elevated..
Buff. Rooh. & Pittsb..
Burl. Ced. R. & N o...
Canadian Paciflo.__
Chesapeake & Ohio..
Ches. O. & So. West’n.

1894.

$
$
2,402,448 2,291,377
464,808
480,096
373,748
276,302
49,592
40,388
488,224
453.103
1,339
1,975
180,053
159,220
231,007
94,867
292.476
286,659
1,420.000 1,450,489
833,010
571.80U
192.309
161.875

Mileage.

Increase or
Decrease.

1895.

1894.

+ 111,071 6,481 6,696
—15,288 1,328 1,328
+97,446
943
947
+9,204
285
285
+35,121
921
917
—636
22
22
-1-20,833
20
20
+136,140
334
334
+5,817 1,134 1,134
—30,489 6.391 6,327
+261,210 1,362 1,278
+30.434
398
398

THE CHRONICLE.

J unb 15, 1895.]
Gross Earnings.
Name o f Road.
1895.
Ohio. & East Illinois.
Ohio. Great Western.
Chic. Mil. & St. Paul.
Chic. Peo.& 81.Louis.
Chic. R. Isl. & P a c...
Chic. & West M ich...
Oin. Georg. & Ports..
Oin. Jack.'& Mack___
Cin. N. Orl.&Tex. P*
Ala. Gt. Southern.*
N.Orl.& Northeast*
Ala. & Vicksburg..*
Vicks. Shrev. &Pac*
Cinn.Portsm’th & Va.
Olev. Akron &jCol__
Olev. Canton '& 8 o ...
Olev. Cin.Ch.& St. L . .
Clev.Lorain &WUeel.
Ool. Hock. Val. & Tol
Col. San’ ky. & Hock..
Colusa & Lake...........
Denv. & Rio Grande..
Det. Lans’g & North..
Dul. So. Shore & A tl..
Elgin Joliet & E ast..
Evansv. & Indianap.
Evansv. & Richm’ d..
Evansv. & T. H aute..
Flint & Pere Marq...
Ft. Worth & Rio Gr..
Gadsden & Att. Un.
Georgia......................
Ga. South. & Florida.
Gr.Rapids & Indiana.
Cin. Rich. & Ft. W ..
Traverse City........
Musk. Gr.R.& Ind .
Gr. Trunk o f Canada!
Chic. & Gr. Trunk.*
Det. Gr.Hav.&Mil.i
Gt. No.—S. P. M. & M
Eastern of MiDn..
Montana Central..
Gulf & Chicago.........
Houston E.&W.Tex..
Humeston & Shen ...
Illinois Central........
Ind. Deo. & Western
Internat’l & Gt. No.
Interoceanio (Mex.)}.
Iowa Central.............
Iron Railway.............
Kanawha & M ich...
Kan. C. Ft. S.&Mem..
Kan. C. Mem. & B ir..
Kan. City &N.W.......
Kan.C.A Beatrice..
Kan.C.Pittsb. &Gulf.
Kan. City Sub. Belt..
Keokuk & Western...
Lake Erie All. & So.
Lake Erie & Western.
Lehigh & Hud. River.
Long Island...............
Los Angeles Term....
Louisv. Evans. & St.L
Louisv. & Nashville..
Louisv. N. Alb. & Chic
Louisv. St.L. & Tex..
Macon & Birming’m.
Manistiaue................
Memp. & Charlest’n.
Mexican Central.......
Mexican National..
Mexican Railw ay!...
Mexioan Southern*..
Minn. & St. Louis---Mo. Kans. &Tex.sys..
Mo. Pac. & Iron Mt..
Central Branch__
Mobile & Ohio............
Mont. & Mex. Gulf ..
Nashv. Chat. & St. L.
N.Y.Cen. &Hud. Riv.
N. Y. Ont. & W est....
Norfolk & W estern...
Northern Pacific.......
Ohio River..................
Ohio River & Char...
Ohio Southern...... .
Peo. Dec. & E vansv..
Pitts. Marion & Chic.
Pittsb. Shen. & L. E ..
Pittsb. & Western—
Pittsb. Clev. & Tol.
Pittsb. Pa. & Fair..
Quin. Omaha & K. C ..
Rio Grande South’n.
Rio Grande Western
Sag. Tuscola & Hurpn
St. Jos. & Gr. Island..
St. L. Alt. * T. H ....
St. L. Kennett & S o ..
St. Louis Southwes’n.
St. Paul & Duluth___
San Fran. &No.Pao..
Sav. Amer. & Mont..
Sher. Shrev.& South..
Silverion........ .......... .
Southern Railway—
Texas & Pacific.........
Tex. Sab. V. & N. W..
Tol. A. Arb.& N. Mich
Tol. & Ohio Central..
Tol. Peoria & West’n
Tol. St. L. & K. City .
W abash......................
W. Va. Cent. & Pitts.
West. N. Y. & Penn..
Wheel. & Lake E rie..

237,985
298,471
2,144,093
85.117
1,167,213
124,912
5,145
42,231
179,000
63,000
58,000
21,000
19,00<
21,050
73,105
44,360
1,153,353
106,94'
124,842
38,484
1,800
564,001
90,166
193,873
91,312
20,956
9,438
87,336
208,091
26,933
867
83,364
65,934
157.777
35,319
4,476
11,516
1.644,301
271,538
88,391
1,002.606
104.555
124,137
3,435
40,934
6,700
1,605,209
40,324
257,086
179,535
127,541
4,455
40,448
303,097
80,165
18,618
377
41,239
21,528
25,413
6,296
291,431
39,271
363,141
11,562
120,678
1,505,485
248.605
32,179
4,295
15,570
91,962
769,948
354,660
276,978
28,353
-153,607
•781,120
1,862,000
42,000
294,465
100,000
388,065
3,608,066
314,891
533,261
1,322,592
58,208
13,644
32,310
71,582
3,278
57,763
148,974
71,832
32,648
20,118
30,100
201,950
9,373
48.294
97,430
2,921
349,900
117,470
77,39r
36,929
21,072
6,100
1,371,097
477,111
3,009
84,761
87,964
86,264
156,664
986,819
89,684
264,90C
72,370

1894.
*
165,628
267,956
2,259,714
47,172
1,376,775
110,725
6,759
39,808
142,000
52,000
46,000
18,000
17,000
26,052
68,839
35,867
1,020,084
71,009
104,886
32,260
1,250
533,000
77,450
143,503
68,860
21,788
10,191
79,769
187,781
13,19?
627
80,955
59,979
144,310
34,591
4,352
8,702
1,613,567
283,854
85,874
813,161
85,473
144,808
3,333
27,417
8,210
1,427,870
30.216
217,287
192,431
125,426
2,609
32,000
355,730
66,017
22,498
1,084
36,256
23,599
28,56*
4,262
259,547
42,092
371,301
13,078
108,94u
1,481,469
228,476
34,268
4,861
8,747
101,353
764,429
365,561
235.883
26,620
140,940
689,530
1,796,371
73,325
260,012
90,704
358,646
3,304,803
346,481
845,623
1,197,476
54,654
12,032
28,737
63,077
1,604
29,216
107,930
43,481
23,464
19,866
28,190
196,600
9,063
80,894
73,830
1,692
295,705
140,038
77,380
32,638
17,247
3,098
1,298,667
470,237
3,186
75,593
73,186
58,628
113,632
867,244
57,721
182,560
64,857

Mileage

Increase or
Decrease. 1895.
S
+92,357
+30,515
—115,621
+37,945
—209,562
+ 14,187
—1,614
+2,4*3
+37,000
+11,000
+12.000
+3,000
+2,000
—5.00?
+4.266
+8.493
+133,26
+35,938
+ 19,956
+6,224
. +55<
+31,001
+12,716
+50,371
-f2 2 ,452
—832
—753
+7,569
+20,31+8,738
+240
+2,409
+5,955
+13,461
+728
+124
+2,814
+30,734
—12,316
+2,51'+189,448
+ 19,082
—20,671
+ 102
+13,517
—1,510
+177,339
+10,108
+39,799
—12,896
+2,115
+ l,84t
+8,448
—52,633
+14,148
-3 ,8 8 0
—707
+4,983
—2,071
—3,153
+2,034
+31,8 -4
—2,821
—8,160
—1,516
+ 11,73»
+24,016
+20,129
—2,089
—566
+6,823
-9 ,3 9 1
+5,519
—10,901
+41,095
+1,733
. +12,667
+91,590
+65,629
—31,325
+34,453
+9,296
+29,419
+303,263
—31,590
—312,362
+ 125,116
+3,554
+ 1,612
+3,573
+8,505
+1,674
+28,547
+41,044
+28.351
+9,184
+252
+1,910
+5,350
+310
—32,600
+23,600
+1,229
+54,195
—22,568
+15
+4,291
+3,825
+3,002
+72,430
+6,874
—177
+9,168
+ 14,778
+27,636
+42,932
+129,575
+31,963
+82,334
+7,513

515
922
6,14»
222
3,571
575
42
345
336
295
195
142
189
111
194
210
1,850
195
329
272
22
1,657
334
594
182
156
102
165
637
146
11
307
285
436
86
26
37
3,512
335
189
3,721
72
256
62
192
95
2,888
152
825
519
497
20
173
916
276
153
2237
35
148
61
725
90
360
50
372
2,955
537
166
97
44
330
1,860
1,219
321
227
355
1,885
4,990
388
687
388
902
2,396
477
1,567
4,495
215
207
226
334
25
182
227
77
61
134
180
520
67
445
239
20
1,222
242
165
300
155
2C
4,405
1,49£
38
307
368
247
451
1,935
152
642
260

1894.
515
922
6,148
222
3,571
575
42
345
336
295
195
142
189
111
194
210
1,850
165
329
272
22
1,657
334
594
182
156
102
165
637
146
11
307
285
436
86
26
37
3,515
335
189
3,709
72
256
62
192
95
2,888
152
825
519
497
20
173
916
276
193
35
235
35
148
61
725
90
362
50
372
2,955
537
166
97
44
330
1,860
1,219
321
227
355
1,723
4,987
388
687
388
884
2,396
477
1,567
4,495
215
207
226
334
25
183
227
77
61
134
180
520
67
445
239
20
1,223
248
165
300
155
20
4,405
1,499
38
307
368
247
451
1,935
152
643
260

Total (132 roads)... 89,391.432 37,030,025 +2,361,407 100.272 100,178
* For three weeks only,
t For fire weeks ended Jane 1.
i For lour weeks ended May 25.




1041

GROSS EARNINGS FROM JANUARY I TO MAY 31.
Name o f Road.
Atch. Ton.& S.Fe Sys—
8t.L. & S.Fran. Sys__
Atlantio & Pacific.......
Atlantic & Danville----Balt. &O. Southwest....
Birmingham & Atlantic
Brooklyn Elevated........
Buff. Koch, & Pittsburg.
Burl. Ced. Rap. & N o...
Chesapeake & Ohio...» .
Ches. Ohio & Southw...
Chic. & East’n Illinois..
Chic. Great Western__
Ohio. Milw. & St. Paul..
Chic.Peo. & St. Louis..
Chic. Rock Isl. & P a c...
Chic. & West Michigan.
Cin. Georg. & Portsm’th
Cin. Jackson & M ack...
Cin. N.O. & Texas Pac.*
Ala. Great Southern.v
N.O. & Northeastern.*
Alabama & Vicksburg
Vicksb. Shrev. & Pac.*
Oinn. Ports. & Virginia.
Cleve. Akron & Col—
Cleveland Canton & So.
Olev. Cin. Chic. & St. L ..
Cleve. Lorain & Wheel..
Col. Hock. Val. & Toledo
Col. San’ky & H ocking..
Denv. & Rio G rande....
Det. Lansing &North’ n.
Dul. So. Shore & A tl___
Evansv. & Indianapolis
Evansv. & Riohmond...
Evansv. & Terre Haute.
Flint & Pere Marquette.
Ft. Worth & Rio Grande
Gadsden & Atalla U n ...
Ga. South’ n & Florida..
Gr. Ranids & Indiana...
Cin. Rich.* Ft.Wayne.
Traverse City..............
Gr. Trunk of Canada}..
Chic. & Gr. Trunk} —
Det. Gr. H. & M ilw }...
Great Nor. St. P. M.& M.
Eastern of Minnesota.
Houston E. & W. Texas
Humeston & Shenand’h
Illinois Central..............
Indiana Deo. & West—
Int. & Great Northern..
Interoceanio (M ex.)i...
Iowa Central..................
Kanawha & Michigan ..
Kansas C. Ft. S.&Mem..
Kan. City Mem. & B ir..
Kan. City & Beatrice.
Kan. City Pitts. & Gulf.
Kansas Citv Sub. Belt..
L. Erie Alliance & So...
Lake Erie & Western...
Lehigh & Hudson River
Los Angeles Terminal..
Louisv. Evansv. & St. L.
Louisville & Nashville..
Louisv. N. Alb. & Chio..
Louisv. St. L. & Texas..
Macon & Birmingham..
Memphis & Charleston.
Mexioan Railway t ........
Mexican Southern*.......
Minneapolis & St. Louis
Missouri K. & Tex. sys..
Mo. Pacific & Iron Mt..
Central Branch..........
Monterey & Mex. Gulf.
Nashv. Chatt. & St. L ...
N. Y. Cent. & Hud. Riv..
N. Y. Ontario & West’n ..

Ohio Riv. & Charleston.
Peoria Dec. & Evansv..
Pittsb. Marion & Chio..
Pittsb. Shen. & L. E rie.
Pittsburg & Western....
Pittsb. Cleve. & Tol....
Pittsb. Paines. & F’pt.
Quincy Omaha & K. C..
Rio Grande Southern...
Rio Grande Western___
Sag. Tuscola & Huron..
St. Jos. & Grand Island.
St. L. Alt.& T.H.Br’chs.
St. L. Kennett & South..
St. Louis Southwestern.
San Fran. & No P»-<dtia
Savan. Amer. & M ont..
Sherman Shreve. & So.
Southern R a ilw a y......
Tex. Sabine Val. & N.W.
Tol. Ann Arb. & N. M..
Toledo & Ohio Central.

1895.

1894.

$
S
11,478,331 11,343,829
2,302.608
2,324,248
1,510,012
1,303,264
215,812
1^7,187
2,522,293
2,450,207
6,692
9,353
948,098
766,238
1,153,688
963,037
1,441,895
1,488,628
6.021,948
6,679,086
3,814,544
3,427,168
905,798
810,037
1,313,162
1,449,827
1,415,857
1,366,277
10.276,414 11,294,354
283,255
370.868
5,638,367
6,809,112
642,669
597.9S9
24,088
26,129
231,097
245.533
1,268,000
1,286,00»'
531,000
507,000
485,000
431,000
187,000
186,000
190,000
189,000
98.829
92,775
362,977
352,339
194,110
241,838
5,385,221
4,896,255
462,417
376,630
914.830
875,215
309,160
212,398
6,420
6,359
2,616,924
2,526,690
441,212
405,856
718,290
566,389
436,519
456,978
106,774
115,813
38,082
40,690
422,112
426,254
1,014,135
1,018,416
151,546
106,609
2,605
3,328
536,063
495,996
351,277
319,358
809,120
741,033
155,370
176,630
17,945
21,407
36,956
50, i99
6,887^109
7,063,838
1,213,840
l,113,0i 9
385,062
371,162
3,397,219
4,139,194
327,172
438,008
548,332
603,476
16,654
17,252
164,578
209,413
46,763
39,600
7,179,988
7,673,437
137,879
182,916
1,503,141
1,216,038
998,833
962,878
609,149
710,823
21,526
16,810
145,654
173,553
1,745,892
1,943,650
419,201
397,919
91,232
128,076
5,242
2,068
205,952
144,851
83,353
83,559
152,187
132,428
32.839
28,967
1,244,647
1,398,439
181,855
162,889
1,358,164
1,306,443
65,225
74,410
548,836
579,419
7,673,604
7,513,920
1,042,831
1,183,510
158,222
154,627
30,654
28,932
20,217
55,156
442,437
520,281
3,581,338
3,859,280
1,758,894
1,798,838
1,421,424
1,272,737
203,017
190,703
657,612
675,925
4,361,282
3,566,937
8,686,344
8,827-,751
224,599
350,491
1,343,821
1,344,350
471,879
530,681
1.893,562
1,901,249
16,894,113 16,300,442
1,403,805
1,367,093
3,827,343
3,700,392
5,339,592
5,826,308
246,245
266,669
74,259
71,103
289,569
246,871
369,261
317.808
13,617
16,715
140,607
209,315
479,918
601,160
309,15S
237,471
105,020
94,381
92,506
97,762
144,927
129,751
844,215
787,28S
42,574
45,20£
407,541
252,991
529,016
521,56)
11,070
14.132
1,689,436
1,927,067
499,114
485,975
286,986
281,172
175,023
179,671
111,835
136,900
7,187,907
7,025.380
2,518,756
2,678,317
17,930
17,509
430,882
416,244
621,440
565,330

Increase. Decrease.
$
134,502
206,748
18,625
72,086
181.860
190,651
387,376
95,761
136,465
87,613
44,680
........
24,000
54,000
6,054
10,638
47.728
488,966
85,787
96,762
61
90,234
35,356
151,901
20,459

44,937
723
68,087
21,260
13,543

741,975
110,836
55,144
598
44,835
493,449
45,037
287,103
4,716
27,899

61,101
3,872
153,792
18,966
9,185

........

140,679
34,939
277,942
39,944
151,687
18,313
794,345
52S
58,802
593,671
36,712
486,716
20,424
3,156
42,698
51,453
3,098
68,708
121,242
71,682
10.63S
5,256
15,176
56.926
2,635
3,062
237,651
4.64É
25,065
159,561
5 6 ,il0

$
21,640

2,661
46,733
657,138

49,580
1,017,940
L,170,745
2,04 Ì
14,436
18,000
1,000
1,000

39,615

9,039
2,608
4,142
4,281
. . . . __ _
40,067
31,919
3,462
176,729
100,821
13,900

7,163

35,955
101,674
197,758
21,282
36,844
3,174
206
19,759

51,721
30,583
159,684
3,595
1,722
77,844

12,314
141,4flÌ7
125^892
7,687
126,951

154,550
7,455
13,139
5,814
162,527
421
14,638

1042

THE CHRONICLE.

f V ol. LX.

Here in London it is thought that ten millions sterling at the
outside
is a large enough sum to advance at one time. It is
»
Toledo Peoria & West’n .
4*7,03?
339,665
pointed out that China need not pay the indemnity for sev­
ToL St. L. & Kan. City..
535,345
122.480
............ eral years, and that therefore the wisest course would be to
Wabash...........................
4,505,907
206,990
WestVa.Cent. & Pittsb.
361.6 )6
4 >,656
lend only a comparatively small amount at first, so as to see
WestN. Y. & P a...........
1,035.419
127,564
—
Wheeling & Lake E rie..
460,795
22.210
what the policy of China in the future is to be. Upon the
Total (131 roads)___ 189,690,197 135,603,675 9,037,778 4,951,256 Continent, on the other hand, there is a strong desire to
Wet increase..................
4,086,522
enable China to get rid of the Japanese at once, and there is a
* For three weeks only in May.
preference, therefore, for a large loan of about 30 millions
t To June 1.
sterling without delay. It is hardly probable, however, that
( To May 25.
such a large loan could be floated, as in the present temper of
S t o c k E x c h a n g e C l e a r in g -H o u se T r a n s a c t io n s . — The London it would not be subscribed for here. Meantime the
subjoined statement includes the transactions o f the Stock silver market is fairly well supported, and so are the Eastern
Exchange Clearing-House from June 3 down to and including exchanges. The India Council on Wednesday sold the whole
Friday, June 14; also the aggregates from January to May, of its 60 lakhs of rupees at nearly Is. 1 9-161. per rupee, and
inclusive, in 1895, 1894 and 1893.
it has since sold small amounts by private oontract.
STOCK EXCHANGE CLEARING HOUSE TRANSACTIONS.
The extraordinary cheapness o f money which has lasted so
r—Bhares, both sides.— > ,-------- Balances, one side.-------- ■» Sheets long has not a3 yet brought out a9 many new loans and com ­
Cleared. Total Value. Shares. Value Shares. Cash. Cleared
panies as were expected. There have, indeed, been a very
1893$
9
9
3,000,000 210,700,000 3.300,500
January. . 28,544.500 2,064.709.000
6.839 considerable number of gold-mining companies, chiefly W est­
2,587.900 172,701.000 3,529,000
February .. 25,108,900 1.744,400,000
6,161
2,703,800 167.900.000 3,784,100
M arch... . 24,591,100 1.690.000.000
7,080 ern Australian; but for the most part they have taken only a
2.311,300 153,300,000 2,331.000
A p ril..... ,. 20.802,500 1,421.300.000
6,005
2,869,500 161,110,000 4,870,100
M ay....... . 28,209.500 1,738,900,000
7,200 small amount of money and very many of them did not su c­
5 mos . 127,256,500 8,659,309,000 13,472,500 865,711,000 17,814,700 33,275 ceed. It is known that large numbers of issues are prepared.
1894Promoters and issuing houses, however, complain that the
1.354,000
69,100,000 2,041,000
January.. . 18.363.000 1.088.600.O00
6,839
784,800,000
1,035,400
56,200,000 1,396,900
February . 12,847,600
5.598 public will take only perfectly good securities or purely spec­
1,452,100
M arch.... . 16.912.900 1.076.441,000
81,800,000 1,928,700
6,581
1,384,300
868,700,000
A pril .. .. . 14.726,000
77,200.000 1,418.900
6,401 ulative ; issues of an intermediate kind are not for the mo­
19.140,800 1,200,300.000
1,551,100
May........
91,700,000 1,938,500
6,689
ment in favor. But it is believed that that feeling is passing
5 m os.. . 81,992,300 5,018,841,000
6,776,900 376,000,000 8,724,000 32,108
away, and next week, unless a change take3 place, it is ex­
1 8 9 5 -',
896,200.000
1,091.000
January.. . 13,593.600
63.700.000 1,483.100
6,434 pected that there will beaconsiierablenum ber of new issues.
762.100.000
February . 12,030.600
997.500
55,000.000 1,133.500
6,516
March. .. 19,057.700 l ‘,207.500.000
1,493,600
85,400,000 1,926,400
6.5Ì0 There will be f ar instance a Newfoundland loan and a two
A pril....... . 15.799 200 ] .004.800,000
1,710,60 )
94,500,000 1,399,30)
6,431
May. . . . . . . 28,2 JO,100 1,603,400,000
3,151,900 162,900,000 2,157,200
7,391 million sterling 4)£ per cent Chilian loan. Tnera will also be
5 m os... . 88,701,100 5,474,000,000 8,444,500 461,500,000 8,099,500 32,314 some industrial concerns offered, at least that is the present
i— Shares, both sides.— . ----------- Balances, one side--------- Sheets intention. For some reason not very clearly understood the
Cleared. Total Value. Shares. Value Shares. Cash. Cleared.
9
French Government has again postponed the funding of
9
9
June 3. 875,800 47,600,000 111,300 5,500,000 67,700
314 forty millions sterling of the floating debt, and almost all at­
“
4. 560,600 28,800,000
75,000 3,600,000 51,500
307
“
5
695,000 41,400,000
83,600 4,500,000 40,100
306 tention for the time being is devoted in Paris to the South
“
6.. 652,800 36,400,000
78,300 3,900,000 53,700
311 African department.
“
7. 493,400 29,700,000
63,400 3,200,000 40,500
293
There has been exceedingly little business on the Stock E x ­
Tot. w k . 3,277,600 183,900,000 421,600 20,700,000 258,500 1,531
Wklastyr3,723,400 257,700,000 310,300 13,200,000 342,200 1,498 change this week in any department, owing chiefly to the
JunelO.. 984,000 61,400,000 112,100 5,600,000 65,400
337 Epsom races, the most popular of all in this country. To­
“ 11.. 481,000 31,100,000
62,100 3,500,000 29,500
297 day the Stock Exchange is closed and Monday will be a bank
« 12.. 887,200 62,100,000 100,000 6,200,000 91,200
323
“ 13.. 1,143,100 72,700,000 129,500 7,500,000 72,900
341 holiday, while yesterday and the day before were Jewish
« 14.. 1,147,500 73,700,000 126,400 7,200,000 95,600
341
holidays. Ia consequence of all this buriness ha3 been ex ­
Tot. w k..4,642,800 301,000,000 530,100 30,000,000 354,600 1,639 ceedingly slack and probably will continue so next week, for
Wklastyr3,525,700 241,000,000 297,100 19,100,000 468,000 1,497
many people have left the city for Whitsuntide and aTe not
The stocks cleared now are American Cotton Oil common,
American Sugar common, American Tobacco common, Atch­ likely to return before the middle of the week. On Thurs­
ison, Central of N. J., Chesapeake &Ohio, Chicago Burlington day, moreover, the Afghan Prince who is now on a visit to
& Quincy, Chicago Gas, Chicago Milwaukee & St. Paul com­ this country will be entertained by the Lord Mayor, and
mon, Chicago & Northwestern common, Chicago Rock Island that will block the streets and so interrupt business. But the
& Pacific, Delaware & Hudson, Delaware Lackawanna &
Western, Distilling & Cattle Feeding, General Electric, Lake general expectation is that when the settlement comes round
Shore & Michigan Southern, Louisville & Nashville, Manhat­ at the beginning of the following week there will be a
tan, Missouri Kansas & Texas preferred, Missouri Pacific, New decided recovery in business. For the time being all
York Central, New York L. E. & West., New York & New other departments move in sympathy with the South Afri­
England, New York Ont. &W est., North. Pac. pref., National
Lead common, Phila. & Read., SouthernRy. common and pre­ can. When it is strong, speculation is active everywhere,
ferred, Texas & Pacific, Un. Pac., U. S. Cordage common but since it has given way, speculation has decidedly
and preferred, United States Leather common and preferred, declined in other markets likewise. And at the beginning of
Wabash common and preferred and Western Union.
the week there was a further fall in South African shares—
gold, diamond and land. On Tuesday, particularly, the fall
was very heavy. Rumors were circulated of coming diffi­
culties at the next Settlement, and it was also said that the
[From our own correspondent. 1
French Government was putting pressure upon the agents de
L o n d o n , Saturday, June 1, 1895.
change to stop the buying of South African securities. On
As usual at the end of the month the joint-stock banks Wednesday, however, there was a recovery, and a better tone
have been calling in loans this week, and this, together with has prevailed ever since. The general belief now is that there
a considerable export o f gold on Thursday, has made the is a very large “ bear ” account open, an I that siace Tuesday
money market slightly firmer. But the firmness is very tem­ afternoon the “ boars ” have been quietly buying back. It is
porary. Next week the banks will lend as usual; and as gold known, indeed, that many o f the great operators and several
is still coming in on a large scale everything points to a long of the jobbers in the market had run very short of stock.
continuance of cheap money.
They welcomed, therefore, the decline in prices, and it is nat­
The silver market continues very quiet, the price fluctua­ urally presumed that they are quietly buying. The check to
ting around 80%d. per ounce. For the moment every one is business, too, has allowed both jobbers and brokers to make
waiting upon the expected Chinese loan. Nothing respecting up old arrears, and everything seems prepared for another
it is yet settled, the matter being in the hands of the diplo­ rise.
matists, and it looks as if the loan would be postponed for a
In the American department prices fell in sympathy with the
time. Indeed, Chinese authorities say that the European South African at the beginning of the week, but since Wednes­
banks are much more eager to lend than China is to borrow, day Americans have likewise been in better demand. Even
and they even assert that the Chinese Government has not yet on Thursday, when the New York Stock Exchange was closed
decided to borrow in Europe at all. That, however, is looked though little was doing here prices were very firmly main­
upon as a mere ruse, every one here and on the Continent being tained. There is a fairly good demand for sound bonds, but the
satisfied that China must borrow. In the meantime there is a general public is still shy respecting shares, almost the whole
great divergenceof opinion between London and the Continent. buying of these being by the larger operators and by members
Name oj Hoad.




1895.

$
386,703
657,825
4,712,897
404 352
1,212.983
483,005

1894.

Increase

Oecrtubt.

THE CHRONICLE.

J u n e 15, 1895.]

o f the Stock Exchange. In spite of the abstention of the pub­
lic, however, the feeling is much more hopeful in the city not
only respecting the American but respecting, in short, all de­
partments. Evidence grows every day that trade is improv­
ing at home and that likewise recovery has set in both in the
United States and in South America. In Argentina, more
particularly, the railway traffics are excedingly good, every
week showing a decided increase in receipts; and although
from time to time there are reports of probable difficulties be­
tween Argentina and Chili little attention is paid to them, the
best opinion beiEg that all questions at issue will be peaceably
settled.
Even the difficulties of the Australian banks have ceased to
exercise any prejudicial influence upon the market. The
chairman of the City of Melbourne Bank is now in London
negotiating with the depositors for a reduction i i the rate of
interest. Under the reconstruction the bank is bound to pay
per cent upon the deposits; but it is now admitted that
that cannot be done and the proposal is to reduce the rate to
per cent. There is naturally great unwillingness to agree,
especially as the report of the bank for the second
half of last year has just been received in London
and shows a loss on working of almost £20,000. Other of the
reconstructed banks are little better off ; but the condition of
these banks, it is now thought, will not in any way affect our
market, whatever may be the consequences of their
difficulties.
The Chilian Government gives the strongest assurances
that the disputes with Argentina will be amicably settled.
The best opinion in Paris is that the French Government
does not wish to check business in the South African mining
market, but that it has decided to exercise a supervision over
that market.
The following return shows the position of the Bank of
England, the Bank rate of discount, the price of consols, &c.,
compared with the last three years:
1895

1893.
May 31.
*
£
X
24,914,970 26,904,430 26,235,155
8,785,644
7,198.584
6,462,719
31,584,451 30.312 685 29,607.403
9,894.422 11.208,101 11,255,920
20.298,471 28,470,974 26,523,307
27,927,910 15,647,318 16,125,611
36,012,880 26,101,743 25,910,766
68«
41«
44«
2
4
2
101«
99 5-16
97 1-16 X d
28 6-l6d.
37%d.
40 7-16d.
122,082,000 139,787,000 150,205,000

May 30.

£

Circulation... ...................... .
25,810,215
Public deposits. .......................... 9,235,134
Other deposits ........................... 35,533,149
Government securities............ . 13,804,608
Other securities ......................... 20,44 L,443
Reserve o f notes and coin.......... 28.160.161
Coin & bullion, both departm’ts 37,500,376
03«
Prop, reserve to liabilities, .p. c.
2
Bank rate .................... per cent.
106«
Consols, 2<g per cen t...................
S ilv e r ........................... ................. *30 ll-l6 d .
Clearing-House returus............. 167,020.000
* May 30.

The rates for money have been as follows :

Bank Bills.

May 3 2
“
10 2
..
2
*
24 2
"
31 2

17

Trade Bills.

Disc’ t H'te
—
Joint
Three Four
Three Four
Six
Six
Stock At 7 to 14
■tonths Honths Months Months Months Months Banks Call. Days.

Ö

13-16
13 1 6 -« 1 6 -ld -l
«-1 3 16 13-16 « « -1 5 16
13-16
«S 1
«
13-16-« « @ 1
H
ll-lfl-44 44-13-16
«

The quotations for bullion are reported as follows :
GOLD.

London Standard. May 30. May 23.
8. a. f. d.

.

Bar gold, fin e. ..o z .
Bar gold, parting.oz
Span, doubloons, o z.
CJ. S. gold coin. ...oz.
German gold coin.oz

1«
1@1 « 1 « @ 1 «
1
1«
1«
1 @ 1 « 1«@1 « 1«@144
1
1«
1«
1
1«
1«

May 24.

«
«
«
«
«

«
«
«
«
«

H

3«

3«

3«

May 17.

3«

d.

....

IMPORTS.

1894-5
Im portsof wheat.cwt.52,249,266
Barley___. . . . . . . . ___ 20,260,944
Oats................
10,557,127
P e a s ........................... 1,789,079
B e a n s ...................
3,327,452
Indian c o r n ..............18,997,514
Flour.......................... 14,735,600

1893-4.
45.023.655
25,028,628
9.704,204
1.893.388
3,968,445
26,112,207
14.451.246

1892-3.
44,781,994
13.423,649
9,845,219
1,6-15.435
3.226,319
22,875,327
15,725,193

1891-2.
48,977,298
14,740,266
10.516,812
2,203,460
2,808,395
21,116,810
15,132,097

Supplies available for consumption (exclusive of stocks on
September 1):
1893-4.
1892-3.
1891-2
1894-5.
Wheat imported.owt.52,249.266 45.023.655 44,781,994 48,977,293
Imports of flour........14,735,600 14.451.246 15,725,193 15,132,097
Sales of home-grown. 17,174,000 18,023,325 21,440,253 25,466,951
Total......................84,158,866 77,498,226 81,947,445 89,576,346
1894-5.
1893-4.
1892-3.
1891-2.
Aver, price wheat week.23s. 5d.
24s. 44.
27s. 6d.
31s 2 d .
Average price, season..20s. 2d.
25s. 8d.
26s. 8d.
34s. 7 d .

The following shows the quantities o f wheat, flour and
fnaize afloat to the United Kingdom :
This week. Last week,
^
heat........
| 3,868,000 £ 3,25®’ ooo
Flour,
equal-qra*
to qrs.
310,000
239,000
M a ize............... qrs.
B n g lis h t fiu a u c ia l

1894
3,760,000
312.000
585.000

1893.
3,466,000
322,000
568,000

t a r a e t s - P e r C a t t le .

3«

Mon.

Tues.

Wed.

Louisville & Nashville..
Mexican Central 4s.......
N. Y. Central & Hudson
N. Y. Lake Erie & West.
2d consols....................
Norfolk & West’n, pref.
Northern Pacific, pref..
Pennsylvania................
Phil. & Head., per share
Union Pacific
.................
Wabash, n -ef..................

Thürs.

Fri.

309,8
1063,8
1063,«
02-72«
10%
55«
23«
70
98«

309ie
1066,8
1067,8
0 2 -6 7 «
10«
55
23«
69«
98«

........

591s
b7 «
104
11«
67«

59«
67«
104«
11%
67«

59«
67«
104«
11«
68«

59«
67
10 4 «
11«
68«

60«
67«
104%
11«
69

1878
54
8«
14
40«
13«
19«

19«
54
8«
14«
40 «8
14
20«

19%
54«

20«
54«
8«

1978
54«
9«

14«
20

4L
14«
20«

14
20«

© uranxeucial a u d JH iB ceIIa u e 0 u s
N ation al B anks .— The follow in g inform ation
national banks is from the Treasury D epartm ent:

May 10.

3«

Sat.

London.

309,6
30«
30«
Silver, per o z ............. d. 3 0 «
1061,8
Consols, new, 2% p. cts. 106Le 1 0 6 « 1 0 6 «
For account............... 10()3] ß 106« a 1063,* 1 0 6 «
Fr’ oh rentes (In Parislfr. 02 4 7 « 102-55 102 55 102 70
10«
Atoh. Top. & S. Fe........
10«
9 78
914
Canadian Pacitio... . . . . . 5338
54«
5478
54 «
23«
23«
23«
Chesapeake & Ohio....... 2 3 «
68«
69«
Ohio. Milw. & St. Paul.. 68
68 «
Illinois Central............
98
98«
98
98

H
H
H

Bank Open Bank Open Bank Open Bank Open
Rate. Marke) Bate. Market Bate . Market Bate. Market
2
1«
2 '
2
2
3
3
3
3
B erlin................
1«
m
i«
m
3
H am burg........
m
3
3
3
154
1«
i«
3
F rankfort.......
i«
3
3
3
i%
i«
m
A m sterdam ..,
2«
i«
2
«
2
«
2«
i
«
m
m
Brussels .......
2«
m
2«
2«
i«
2«
i«
i«
4
Vienna.............
4
4
3«
4
3«
3«
3«
St. Petersburg
6
B«
6 .
6
6 .
5«
5«
5«
5
Madrid . . . .
5
5
6
5
6
5
5
3«

d.

9
Bar silver, fine. ..oz. 30 11-16 3111-16
9 « Bar silver, contain8
lng 5 grs. gold ..oz. 31 1-16
31 1-16
3 « Cake silver
oz.
33«
33«
4 « Mexican dollars..oz. 3 0 «
3C«

44

Interest at

C openhagen...

77
77
73
76
76

The following shows the imports of cereal produce into the
United Kingdom during the first thirty-nine weeks of the
season compared with previous seasons:

The Bank rate of discount and open market rates at the
chief Continental cities now and for the previous three weeks 5.000.
have been as follow s:
May 31.

77 9
77 9 «
73 8
76 3 «
76 4 «

SILVER.

London Standard. May 30. May 23.

00rf0

London.

Interest Mowed
for deposits by

Open Market Bales.

4
£

little doing at the former rate. Arrivals : New York, £152,000; Cape­
town, £1,000; West Indies, £11,000. Total, £161,000. Shipments,
Bombav, £35,500; Caloutta, £60,550; Hong Kong, £22,500. Total,
£121,550.
Mexican Dollars.—Some small dealings have taken place in these
coin during the week at 3 0 «d . Shipments: Penang, £ i9 ,630; Hong
Kong, £ ls ,9 9 4 ; Straits, £8,300. Total, £ i 7,924.

The daily closing quotations for securities. &c., at London
189V.
are reported by cable as follows for the week ending June 14:
June 1.

1894

May 29.

1043

3«

60«

104«
11«
69
18«
9«
42«
13«

regarding

NATIONAL BANK ORGANIZED.

—The East Pittsburg National Bank of Wilmerding, Pennsyl­
vania. Capital, $50,000. John F. Miller, President; P. W.
Morgan, Cashier.
5.001.
—The Laredo National Bank, Laredo, Texas. Capital, $100,000.
J. Lentz, President; J. K. Baretta, Cashier.
5,002—The Merchants’ Laclede National Bank of St. Louis, Missouri.
Capital £ 1,41)0,000. W. H. Lee, Pres’t; J. Nickerson, Cashier.
CORPORATE EXISTENCE EXTENDED.

2,270—The Nation 1 Shoe and Leather B ink of Auburn, Maine, until
May 24. 1915.
2.278—The Duquesue National Bank o f Pittsburg, Pennsylvania, until
May 25,1915.
2,284—The Westminster National of Gardner, Massachusetts, until.
May 26, 1915.
2.279—The Metropolitan National Bank [of Pittsburg, Pennsylvania,
until June 2, 1915.
2,277.—The Fourth National Bank of Boston, Massachusetts, until
June 7,1915.
CHANGE OF TITLE.

------

2,274—The Randolph National Bank of West Randolph, title changed
to the Randolph National Bank, May 21, l89o.

IN LIQUIDATION.
Messrs, Pixley & Abell write as follows under date o f j
i 4,746-T h e National Bank of Deming, New Mexioo, has gone into vol- '
May 30 :
l
untary liquidation, by resolution of its stockholders dated

Gold.—Failing sufficient demand, the Bank has received most arriv
March 26. 1895.
als, and £191,0 -0 has been disposed of in this way. Inquiries for
INSOLVENT.
India have adsorbed some of the imports. £225,000 has left the Bank, 1,891.—The First National Bank of Pella, Iowa, Is insolvent, and was
£100,000 goes to the Cape, and £120,000 to South America. Arrivals: j
on June 5,1895, placed in the hands of Elma A. Howard,
River Plate, £25,uoo; S"Uth Africa. £161,000 ; West Indies, £46,000;
Receiver.
Australia, £156,000; China, £ 44,OOP; India, £52,000. Total, £4*4,000. Shipments May 23d and 25th: Bombay, £ 1 7 ,5 0 0 ; Calcutta,
I mports and E xports fo r the w e e k . —The following are
£15.0oo.
Sliver—The price has fluctuated between 30H,«d. and 30%d. M rstof the imports at New York for the week ending for dry goods
the demand has been for India, and the market closes steady, with June 6 and for the week ending for general merchandise




1044

THE CHRONICLE.

June 7; also totals since the beginning of the first week in
January.
FOREIGN IMPORTS AT NEW YORK.

For Week.

1892.

D ry Goods.......
Gen’l mer’dise.

1893.

$1,597,551
10,072,567

1894.

$1,54^,991
8,670,379

’

[V

ol.

LX.

Ipautoug ami fpnanxial.

1895.

$867,242
5,762,998

$1,951,050
9,0 a7,373

THE

BANK.

OF

M ONTREAL.

Total.......... $11,670,118 $10,217,370
$6,630,233 $11,018,423
Since Jan. 1.
Dry Goods...... $55,641,829 $68,028,349 $38,818,892 $68,240,404
Gen’l mer’dise. 199,770,824 227,758,125 156,201,777 164,206,303
Total 23 weeks $255,412,653 $295,788,474 $195,020,669 $232,446,707

PROCEEDINGS AT THE ANNUAL MEETING OF THE
SHAREHOLDERS HELD JUNE 3, 1895.

The imports of dry goods for one week later will be found
in our report of the dry goods trade.
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending June 11 and from January 1 to date :

The 77th Annual General Meeting o f the Shareholders of the Bank o f
Montreal took place in the Board Room of the Bank, at one o’clock
yesterday. Among those present w ere: Sir Donald Smith, Hon.
George A. Drummond, R. B. Angus, W. G. McDonald, Hugh McLen­
nan, A. T. Paterson, W. W. Ogilvie, F. S. Lyman, Q. C.; A. w . Hooper,
Donald Macmaster, Q C.; Justioe Cross, M. Burke, Captain Beuyon,
Alex. Mitchell, W. R. Miller, John Dunlop, Q.C.: Hector Mackenzie. James
O’Brien, J. B. Learmont, John Crawford, J. H. R. Molson, A. T. Taylor,
H; Montagu Allan, W. Murray, M. Foley, James Moore, B. A. Boas,
Wm. McKenzie, R. S. White, M. P.; James Wilson, Jr.; J. C. Badgley,
J. M. McCarthy, Charles Meredith, F. T. Judah, James Tasker and
John Morrison.
On motion of Mr. John Crawford, Sir Donald A. Smith, President o f
the Bank, was voted to the chair.
Moved by Mr. J. H. R. Molson, seconded by Mr. B. A. Boas, that the
following gentlemen be appointed to act as scrutineers: Messrs. F. S.
Lyman, Q. C„ and A. W. Hooper, and that Mr. James Aird be the Sec­
retary of this meeting.
The President then called upon Mr. E. S. Clouston, General Manager,
to read the annual report of the Directors as follows :

EXPORTS FROM NEW YORK FOR THE WEEK.

1892.
For the week..
Prev. reported.

1893.

1894.

1895

$8,624,141
$6,776,866
$7,628,438
$7,788,182
174,389,603 147,234,917 159,750,433 146,528,379

Total 23 weeks. $183,013,744 $154,011,783 $167,378,871 $151,316,561

The following table shows the exports and imports of specie
at the port of New York for the week ending June 8 and
since January 1, 1895, and for the corresponding periods in
1894 and 1898:
EXPORTS ANO IMPORTS OF SPECIE AT NEW YORK.

Exports.

Gold,

Week.

Great Britain...........

Imports.

Since J an .l.

IFieefc.

$1,179 $8,088,679
11,916,400
5,774,286
10,000 7,485,221

Germany..................
West Indies..............
Mexico......................
South America..........
Allother countries..

862,354
261,483

2,500

Total 1895..........
Total 1894..........
Total 1893 ........

$14
1,999
123
21,979

$13,679 $34.388,428
7,400,623 54,385,833
1,005,500 68,644.618
Exports,

Silver,

Week,

Since Jan. 1.

$24,115 $20,121,778
101,129
9,216,431
86,906
5.204,711
Imports.
Week.

Great Britain...........
F ra n ce..................
Germany..................
West Indies..............
Mexico......................
South America.........
A other countries..

$910,751 $14,163,802
12,935
99,448
399
495,142
17,277

*7,177
31,958
54,635

Total 1895..........
Total 1894..........
Total 1893..........

$938,672 $14,789,003
485,780 16,451,995
686,905 12,643,284

$93,770
2,289
10,341

1,410
15,811
ÏÔ ’,700

Since Jan. 1
$13,568,380
4,603,988
1,527,166
136,439
19.021
208,614
58,170

Since Jan. 1.
$40,739
3,364
3,809
145,075
284,975
225,163
13,551
$716.667
657,561
1,983,191

(From the Montreal Gazette of June 4, 1895.)

REPORT OF DIRECTORS.
Report of the Directors to the Shareholders at their 77th Annua 1
General Meeting held 3d June, 1895.
The Directors have pleasure in presenting the 77th Annual Report
showing the result of the Bank’ s business of the year ended 30th April,
1895 •
Balance of Profit and Loss A ccount 30th April, 1894___ $804,715 33
Profits for the year ended 30th April, 1895, after deduct­
ing charges of management, and making full provision
for all Bad and Doubtful Debts........ ............................... 1,210,436 77
Dividend 5 per cent, paid 1st December, 1894..$600,000
Dividend 5 per cent, payable 1st June, 1895... 600,000

$2,015,152 10

1, 200,000 00

Balance of Profit and Loss Account carried forward.......

$815,152 10

A Branch of the Bank has been opened at St. John’s, Ne svfouudland'
A Branch Office has been opened in the premises built and owned by
the Bank on the oorner of Notre Dame andSeigneut streets in this city.
With deep regret the Directors have to record the death o f their
esteemed colleague, Mr. W. H. Meredith, who had been at the time of
his death a member of the Board for upwards of three years.
The vacancy on the Board has been filled by the election of Mr. W.
W. Ogilvie.
All the Offices of the Bank, including the Head Office, have been
inspected during the past year.
D o n a l d A . Sm i t h ,

President.
G eneral Statement 30 th A pril , 1895.

Of the above imports for the week in 1895 $3,550 were
Liabilities.
American gold coin and $3,218 American silver coin. Of the Capital Stock........................................................................ $12,000,000 00
exports during the same time $12,500 were American gold Rest............................................................. $6,000,000 00
Balance of Profits carried forward.......
815,152 10
com and $50 were American silver coin.
F oreign T r ad e

of

N e w Y or k —M on thly Statement . —In

Unclaimed Dividends...............................
Half-yearly Dividend, payable 1st June,
1895.........................................................

$6,815,152 10
3,172 69

addition to the preceding tables, made up from weekly
600,000 00
returns, we give the following figures for the full months,
--------------------7,418,324 79
also issued by our New York Custom House. The first state­
^
$19,418,324
79
ment covers the total imports of merchandise.
Notes of the Bank in circulation............ $4,260,962 00
IMPORTS INTO NEW YORK
1891-95.
Month.

Ju ly............
August.......
September..
O ctob er. . . .
November..
D ecem ber..
Jan uary....
February...
M arch.........
A pril...........
May.............
Total...

Dry
Goods.

General
Merchan­
dise.

%

%

7,891,356
7,420,901
8,782,959
9,023,960
6,076,454
9,540,517
17,660,312
13,964,977
13,384,847
13,029,768
8,249,450

34,387,969
26,861,763
23,472,953
29,494,662
27,083,885
36,077,954
28,777,708
24,873,030
31,998.988
31,723,233
32,307,', 88

1893-94.

Jotal.

Dry
Goods.

General
Merchan­
dise.

Total.

$
f
«
«
42,279,325 13,381,391 27,303,539 40,621,930
34,282,664 9,036.188 27,419,045 36,455,233
32,255,912 7,193.33,1 18,874,404 26,067,740
38,518,622 5,795,631 27,360,894 33,156,525
. 33,180,339 4,497,140 26,381,962 30,832,102
45,618.471 4,973,663 28,245,063 33,218,729
46,438,020 8,976,930 26,993,965 35,970,895
88.838,007 8,355,097 23,821,975 32,177,072
45,383,835 7,561,718 35,517,997 43,079.715
44,766,001 8,044,653 29,239.646 37,284.299
40,557,238 5,013,252 30,257,420 35,270,672

116,025,f 01 327,062.933 442.088,434 62,766,002 801,418,909 334,184,911

EXPORTS FROM NEW YORK.

CUSTOMS RECEIPTS.

lot al Merchandise.
Month.

Deposits not bearing interest................. 9,504.473 34
Deposits bearing interest......................... 24,585,726 73
Balances due to other Banks in Canada
5,196 77
---------------------

1894-95.

$
July..................... 26,333,424
29,323,417
A ugu st..............
September......... 26.397,471j
O c to b e r ............. 27,438,686
N ovem ber.......... 27,636,023
D ecem ber.. . . . . 28,610,146
28,889,726
January............
23,621,576
February..........
27,804,467
M arch.................
April.................... 26,157,980
M ay..................... 28,063.178

1893-94.
«
32,661,140
85,045,433
32,998,412
31,126,356
31,472.483
81,208,080
30,037,691
27,394.451
31.301,980
27.990,338
28,086,944

T otal........... 300,331,093 339,313,808




At New York.
Month.

1894-95.

1893.94.

J u ly...................
August........ .
September..........
O ctober..............
Novem ber..........
December...........
January.............
February...........
M arch................
April....................
May....................

«
$
6,175,579 10,220,988
8,723,355 8,188.589
9,692,660 7.964,784
8,229,310 7,537,621
6,769,717 6,314,546
7,433,102 5,646.395
12,818,691 8,315,655
9,342.283 7,424.174
9,798.203 7,448,490
8 325,022 6.733,598
8,101,105 6,238,318

___T otal............

95,912,027 82.033,158

38,356,358 84
$£7J774i68363

Assets.
Gold and Silver Coin Current................ $2,314,089 56
Government Demand Notes.................... 2,170,133 25
Deposit with Dominion Government re­
quired by A ct of Parliament for se­
curity of general bank note circulation
265,000 00
Due bv Agencies of this
Bank and other Banks
in Foreign Countries. .$11,832,651 88
Due by Agencies of this
Bank aud other Banks
in Great Britain.......... 3,454,321 90
--------------------- 15,286,973 78
United States Railway Bonds................. 2,053,791 43
Notes and Cheques of other Banks........ 1,139,492 33
-----------------------$23,229,480 35
Bank Premises at Montreal &Branches
600,000 00
Current LoansandDiscounts (rebate
interest reserved) and other Securities
and Assets............................................... 33,733,762 01
Debts Secured by Mortgage or Otherwise
12i,913 34
Overdue debts not speoially secured
(loss provided for).................................
86,527 93
--------------------- 33,945,203 28

I57J774J68363
E. S. Clouston, General Manager.
B ank of M ontreal ,
>
M ontreal , 30th April, 1895. 5
THE PRESIDENT’ S ADDRESS.
The President, Sir Donald Smith, then rose and said: Before taking
up the immediate business of this meeting, I would desire to say how
deeply we all deplore the loss of our late colleague. Mr. W. H. Mere­
dith. He was In the prime of life, a gentleman of very great promise,
who had endeared himself to all who had the privilege o f knowing him,
and I am sure that each and all of you here, in common with all who

J unk 15, 1895. |

1045

THE CHRONICLE.

knew Mm, will join with us in this expression of deep regret at the loss
we have sustained.
You w ill observe from the report just read that the net profits o f the
Bank during the past year show a decline of $103,000 00 in round
numbers, or of less than 1 percent upon the paid-up capital as com­
pared with the statement of the preceding year. WMle we could have
desired a better result, under all the circumstances _with which the
Bank has had to contend, we consider it very gratifying, and trust it
may be so regarded by you. The causes wMch have produced this
result will be given more in detail by the General Manager. I would,
however, anticipate his remarks with the observation that the year has
been roamed by quiet trade at home and by dull trade abroad, by
declining prices, by keen competition among traders of all classes, by
difficulty m finding remunerative employment for capital, and by the
continued prevalence of singularly low rates of interest. The period
through which we have passed has not been remarkable in new events.
A wide-spread prostration of trade has occurred for now many years
past, and looking back on the traces upon the path of industry, com­
merce and finance made by that adverse wave, we are glad to believe
that they will be found less deep in Canada than in most countries. In
this connection let me draw your attention to the high rank which
Canadian securities have maintained throughout the long depression.
A leading English authority writing recently on the

well be done by encouraging the settlement o f our vast practically
unoccupied territory in Hie Northwest, for surely two or three hundred
thousand is indeed a sparse population for a district capable of main­
taining millions in comfort and independence. This is not to be accom­
plished by constructing lines of railways where they are not and can­
not, for many years to come, be required, but by offering every proper
inducement to immigrants to take up farms near to the railways which
at present exist, and which offer every requisite facility for transport
and for all the trade that under the most favorable circumstances we
can hope for in these many years to come. It appears to me that what
is wanted is

APPRECIATION OP HIGH-CLASS SECURITIES,

remarked that: “ Taken all round it will be seen that as compared with
fifteen years ago the yield upon first-class securities generally has de­
clined upon an average of about 25 per cent, or in other words that
capital values have risen to a corresponding extent, for one fact merely
implies the other.” In the table supplied by this authority it appears
that Canadian 4 per cent securities have risen 2112 per cent since 1880,
a higher rate than that of the bonds of any other British colony. The
suggestion arises that, while a property like the Bank of Montreal is
owned practically and exclusively in Canada, a comparison upon the
lines indicated would not be without interest, and it will be satisfactory
to the shareholders to learn that while since 1880 the value of the
shares of the Bank of England has risen 251e per cent, of the London
a nd County Bank 24*2 per cent, of the London and Westminster Bank
22 per cent, and of other principal British banks somewhat less, the
value of the stock of the Bank of Montreal has advanced since 1880 by
59 per cent. Now, I would venture to direct your attention for a few
moments to
THE INDICATIONS OF REVIVING TRADE

which appear the world over, and which are not wanting in Canada
I observe that according to the London Economist of May 11th last
“ In several directions there are indications that the clouds of depres
sion and distrust which have overshadowed practically the whole busi
ness world since the Baring collapse in the autumn of 1890 are
gradually passing away, and that a period o f greater activity in the
race for wealth is setting in.” And the Economist adds that “ From
nearly all the important industrial centres throughout the United
Kingdom the reports read more oheerfully, and the long-coniinued
complaints of unremunerative prices are becoming somewhat less per­
sistent.” In the United States a similar state of affairs has come to
pervail, judging by the signs we accept as a reliable index o f the com­
mercial barometer. Railway earnings in that country are increasing;
the number of mercantile failures is declining; bank suspensions have
happily become as rare this year as two years ago they were common;
manufacturing industries are reviving, and the Clearing House returns
show that the movement of general merchandise is gradually growing.
It is, however, more particularly to the reasons which seem to warrant
a hopeful view being taken of the commercial outlook in our own
country that I would draw your attention, because after all our pros­
perity as a corporation must mainly rest upon the trade conditions in
Canada. These reasons are neither few nor unimportant. If, for in­
stance, we look at
THE CLEARING HOUSE RETURNS

o f this city of Montreal during the past month o f May, it will be found
that the aggregate amount of the clearings has been $57,146,200 as com­
pared with $49,294,200 in the corresponding month last year, and
$54,325,000 in May of 1893, the figures showing an undoubted im­
provement in business, even as compared with two years ago. Then
as to railway earnings, you are doubtless aware that our two principal
arteries of traffic have suffered a serious diminution in earnings since
the Continental depression set in, although, as compared with United
States railways, those iu Canada cannot be said to have done badlv.
The point upon which we have to congratulate ourselves, however, is
that since the beginning of the present year the profits of the Canadian
Pacific Railway show an improvement up to the close of April over
those of the like period last year, the gain for the month of April alone
being $86,840, and that in the case of the Grand Trunk Railway the
receipts have risen from $1,626,500 00 to $1,651,830 00 in the five
weeks ending with May 25th. From results of this kind we have, I
think, fairly good reason to infer that the turn in the tide of business
has come, in which view some confirmation may be found in the rising
scale of prices both here and abroad.
THE ADVANCE IN THE PRICE OP WHEAT,

whether permanent or not, has already given hope and inspired a more
confident feeling among the agriculturalists of Ontario and the North­
west, and if the promise of better prices for this important serial should
be realized during the ensuing year with even less than an average
crop, and I am glad to see the indications from latest returns are that
we shall have an abundant one, the effect cannot fail to be favorable to
business generally in Canada.
I have received to-day information respecting the crop outlook In
the Northwest which I am sure you will be pleased to hear. It is as
fo llo w s: “ Telegraphic reports of Saturday covering all the Canadian
Pacific main line and branches in the Northwest, as well as the lines of
the Manitoba «¿Northwestern and the Great Northwest Central railways,
state that the wheat and other crops never looked better at this time of
year; that the damage to wheat crop by late frost will probably not
exceed *2 of 1 per cent, and to early-sown oats and barley 5 per cent.
Heavy rain Thursday night was general over entire province of Mani­
toba and west to Moosejaw. No more rain needed until July, except
where soil is light. 'With warm weather the wheat should be headed
out about the end of June, which will be two weeks earlier than usual.”
I cannot omit observing, however, that a leading staple of export,
one which, indeed, figures next to lumber in point of importance, has
this spring declined largely in value. I refer to cheese, from the sale
o f which abroad Canada has in recent years derived large returns, and
the current price of which has undergone so marked a depreciation as
to affect the profits of those engaged in the industry. Perhaps, as in
the case of the other staple of wheat, the cheese industry must have its
ups and downs, and in any event we may hope the depression is merely
temporary.

A WELL-CONCEIVED SYSTEM OF EMIGRATION

from the United Kingdom and other countries of Europe, and we have
every reason for believing that money judiciously spent in this way
would be refunded to us ten-fold. It is true that the Northwest has
been greatly benefltted by migration from the older provinces, and
especially from Ontario; but what is a gain to that part of the Do­
minion has undoubtedly to some extent been a disadvantage to the
other provinces, in that the population in the eastern poition o f the
Dominion is not sufficient to permit of its being, to any extent, depleted
to strengthen the West. There is another way in which the prosperity
of the Dominion can also be greatly furthered, and that is by the de­
velopment of the vast mineral resources of British Columbia, for we
have it on the authority of those having the best knowledge and exper­
ience of these industries in the adjoining State of Montana that we
have within our own borders far richer deposits of silver, gold and
other valuable minerals than are to be found in that State, and yet we
know that one of the largest and most important railways in the
American Northwest, while it has suffered in its ordinary traffic of
cereals equally with other roads, has had this loss more than com­
pensated for by the increase arising from its mineral resources. Be­
sides the indications of hopefulness to which I have pointed, there are
others which might be alluded to, but not having the gift of phophecy,
and we all of us have had sad experience of how very unsafe and mis­
leading, and at times disastrous, it has been to indulge in prophecy, I
had better refrain.
NEWFOUNDLAND.

Some eight or nine years back your Bank extended its business by
establishing an agency on the Pacific Coast, and more recently at the
head of Lake Superior, an important grain exporting point, and your
Dirertors have no reason to regret the steps so taken. They have
within the last three months opened a branch In St. John’s, Newfound­
land, under circumstances which I need not particularly refer to, as
they are within the knowledge of all of you. We have every cause for
believing that, while entering into direct business there, the Bank will
confer a benefit on Newfoundland, it will also reap reasonable profit
from the venture. Before moving the adoption of the report, I may be
permitted to mention the regret which I personally feel, and in wMch I
oelieve many of those present will share, that the recent negotiations
looking to the inclusion of Newfoundland within the Dominion have
not yet eventuated in a happy result. Let us hope, however, that ere
long the oldest of Britain’s colonies on the Atlantic will be part of our
Confederation, and that as one country and one people we will together
work out a common material and patriotic future, I will now move
the adoption of the report, seconded by Hon. G. A. Drummond.
I will now call upon the General Manager to address you.
THE GENERAL MANAGER’ S ADDRESS.
Mr. E. S. Clouston, General Manager, said:—
To men in active business it would appear quite unnecessary to ex­
plain why oUr profits are smaller than in former years, but as a number
of our shareholders are not so closely in touch with the commercial
world, and as they receive a report of our proceedings to day, it may
be as well to point out as briefly as possible the reasons why the result
of our year’s business is somewhat less favorable than usual. The
chief cause of the reduction in our profits is the extremely low rates
foe money ruling in England and the United States now and for a long
time past. This affects the Bank of Montreal more than any other
bank m Canada. You will see by reference to the Statement submitted
to you that we employ in those countries about $15,000,000—and the
average for the year will be somewhere in that neighborhood or a little
under. With the rate for money in London ^ per cent to 1 per cent per
annum—in New York the same, and in Chicago 4 per cent instead of 6
per cent or 7 per cent as in previous years, a muon larger shrinkage in
profits could be explained. In Canada the rates have been a little less
than normal. It seems hardly necessary to explain the necessity for
employing so much money outside of Canada, but it may be as well to
repeat previous explanations. These funds practically mean a large
additional gold reserve, available on very short notice, and are not
only a great strength to tMs Bank, but I look upon them as
AN IMPORTANT SAFEGUARD

to the financial interests of the whole Dominion. There has been no
time during the past year when we could not have obtained from
sources outside this country 25 per cent of our total liabilities in gold
quicker than we could possibly use it, and the benefit of such a position
has been shown on more than one occasion, when we have been able to
relieve a financial stringency here and probably prevented a serious
panic, the extent of which no man could foresee, without in any way
disturbing the financial requirements of the commercial community.
Had we been obliged to draw from our local resources we would only
have succeeded in aggravating the situation.
Our actual losses through bad debts have been about normal, but in
making our appropriations for doubtful paper we could not close our
eves to the fact that the past year has not been a prosperous one for
the majority of our customers and we were obliged to take a more than
usually conservative view of our accounts in estimating anything that
might be doubtful. On the whole, looking back over the last twelve
months since I last met you, I am'well satisfied that I am able to
present you with the statement now before you. With reference to the
other figures in the statement, the circulation shows a decrease of
$370,000, which was to be expected owing to the stagnation in trade;
the deposits not bearing interest, an increase of $3,000,000, almost
altogether Government deposits and of a temporary character; the
deposits bearing interest, an increase of $1,300,000—cMefiy in our
Savings Bank Department. >In the assets we hold less gold, $270,000,
and Dominion notes, $610,000, but have $3,000,000 n ore in foreign
countries. The item of Government bonds, etc., has disappeared from
the statement, as they have been sold at a good profit. I may say that
it is our intention to replace them when the opportunity offers. Our
discounts are $2,300,000 more, chiefly loans to municipal corporations
—our commercial discounts being about stationary. The overdue debts
have bpen decreased $115,000 by collections and appropriations.
THE DEPRESSION IN TRADE.

As you all know the year 1894 added another to the depressing busi­
finds exemplification in trade export returns, which show a value of ness years we have had since the baring failure in 1890.
In the United States not only was trade depressed and stagnant, and
$83,895,600 00 of domestic products sent abroad from July 1,1894, to
May 1,1895, as compared with an export of $82,293,000 00 of Cana­ railroad losses enormous; not only were there low prices in wheat,
dian products in the corresponding period of the preceding y ear, thus cotton, steel, sugar, etc.; not only were there railroad strikes, and ex­
shoving an increase in the value of the goods wMch we have been able tensive floods, one of which, on our Pacific Coast, closed communica­
to sell abroad despite a somewhat low range of prices. When we tion with British Columbia for some weeks; not only were wages
remember that this growth of our export commerce has been coincident reduced, numbers thrown out of employment, and tlie forced economy
with a reduction in the value of imports, I think we may rest assured brought about a heavy falling off in production in nearly every line o f
not only of the accumulative power of the country but of the prudence, trade and industry, but to add to the trouble the legislators of the
ability and sound judgment which, in alliance with a well ba ed and United States threw every impediment in the way of a revival by
sagaciously directed banking system, lies at the foundation of its com­ refusing to give any relief with reference to the Silver and Currency
mercial affairs. It bebo« ves us, nowever, to put forth every possible question and aggravated it by absurd financial propositions. Had it
effort in aid of the revival o f prosperity. TMs, it appears to me, can not been lor the firm stand taken by Mr. Cleveland, aided by a syndiTHE ABUNDANCE OF CANADIAN RESOURCES




1046

THE CHRONICLE.

rvoL. l x ,

cate of bankers and financiers who are carrying through with apparent
success one of tlie most difficult and delicate financial operations of
the century, the United States would to-day have been in the throes of
a panic to which that of 1893 would have been child’s play. In times
of business depression, as in epidemics, there always come to the sur­
face a lot of cranks and quacks armed with special nostrums or theories
to cure everything, and the ignorant driven to desperation are very apt
to seize on the most plausible, only to find out later how deeply they
have been deceived. Of such is

fldence the shareholders had in the ability of the gentleman selected to*
fill his (Mr. Meredith’s) place on the Directorate, Mr. W. w. Ogilvie.
This was seconded by Mr. Hector Mackenzie, and after the President
had briefly acknowledged the vote of thanks on behalf o f himself and1
colleagues, it was carried unanimously.
Mr. W. W. Ogilvie moved—
“ That the thanks of the meeting be given to the General Manager,,
the Inspector, the Managers and other officers of the Bank for their
services during the past year.”
THE SILVER HERESY OR FREE COINAGE
In making the motion, Mr. Ogilvie said : " I am often brought into
at present rampant in the United States, promoted by interested silver contact with the officers of the Bank from Vancouver to Halifax, and I
mine owners, fostered by theorists and demagogues, and accepted by a have always been pleased with the caution, zeal and loyalty they dis­
large number of unthinking farmers, laborers, etc., who are feeling the play in regard to the Bank. I have great pleasure in moving this reso­
pinch of lo w prices. I am glad to see that active and organized efforts lution.”
are being made at last to stem the rising tide, and I have no doubt they
The motion, which was seconded by Mr. R. B. Angus, was unani­
will be entirely successful. These efforts are forcibly assisted by the mously carried, after which the General Manager briefly returned
continued increase in gold production, and the steady rise in staples thanks.
without a corresponding rise in silver, refuting some of the chief
Mr. J. B. Learmont moved, seconded by Mr. John Dunlop, Q. C.; and
theories and statements of the silver men. I saw it stated the other it was agreed to unanimously :
day that a French writer, referring to the tendency of the Americans
That the ballot, now open for the election of Directors, be kept open
toward the adoption of irrational and exploded financial theories, said 1 until 3 o’clock, unless fifteen minutes elapse without a vote being,
that God is good to His little children, drunken men and the people of cas , when it shall be closed, and until that time, and for that purpose
the United States, or they would have gone to eternal smash tong ere only, this meeting be continued.
this. The silver question is one that we, as large lenders in the I On motion of Mr. John Morrison, seconded bv Mr. John Crawford, a
United States, watch very closely, and though we could probly do vote of thanks was accorded to the President for his conduct of th®
business there as profitably on a silver basis as a gold one, we would business of the meeting.
lik e to see the present uncertainty removed.
The President briefly acknowledged the compliment.
CANADA AND THE DEPRESSION.

Though the past year has not been a prosperous one it should be a
source of great satisfaction to Canadians that the business community
in Canada nas come so well through the ordeal and with so few failures
and disasters. In that we compare favorably with any other country.
Indeed, it has been a great surprise to me how well we have stood it. it
is too soon to sav we are out of the woods, but in the United States there
seems to be no doubt that the corner has been turned, and as Canada
must always be affected in np small measure by the condition of affairs
in that country, it is reasonable to suppose that here also the depres­
sion has spent its force. There is undoubtedly a more hopeful feeling,
and though the improvement may be to a certain extent sentimental,
many must have beneflttedby the rise in staples, which, with theexception of butter and cheese—has been general. Still, much depends on
the coming crop, and until it is assured the danger is not over. The
prosper it' o f the community will eventually enure to the banks, but in
the meantime the same features with regard to money still exist in
England and the United States, and I am afraid the coming half-year
w ill be an extremely lean one for this Bank at least.
THE NEWFOUNDLAND BRANCH.

THE DIRECTORS.
The ballot resulted in the re-election o f the old Board of Directors as
follow s: Mr. R. B. Angus, Hon. George A. Drummond, Mr. A. F. Gault,
|Mr. Edward B. Greenshields. Mr. Hugh McLennan, Mr. W. C. Mc­
Donald, Mr. W. W. Ogilvie, Mr. A. T. Paterson and Sir Donald A.
i Smith.
j At a meeting of the new Board on Tuesday, the 4thinst., Hon. Sir
Donald A. Smith was elected President and Hon. George A. Drum­
mond Vice-President.
!

J A R V IS -C O N K L IN H O R T G A G E
COM PANY.
CIRCULAR

TO

SECURITY

TRUST

HOLDERS.

The failure of the only two banks in the Island of Newfoundland,
the knowledge of the valuable trade carried on in that island, and its
The Reorganization Committee under date of June 10th»
large natural resources capable of gieat development in the future, announce the conclusion of their labors. The plan of reor­
seemed to afford an opening for an Agency of the Bank, and we accord
ingly commenced business there on the 9th January last. We believe ganization was approved by nearly all the American holders
we have been of assistance in furnishing machinery for the transaction of the company’s securities, and shareholders as well, but
of business which was practically at a standstill, and we have been of
service to the Newfoundland Government by temporary loans, which proved unacceptable to those resident in Great Britain, who
have given them time to make more permanent financial ari angements. are something more than two-thirds of the whole. Toe lapse
The result so far has justified our expectations, and we are encouraged of time meanwhile has demonstrated that the pledged assetsto believe that the future has a satisfactory and successful career in are unequal to the task of earning for the proposed new com ­
store for our St. John’s Branch.
THE GENERAL DISCUSSION.
After some remarks by Mr. John Morrison in favor of the observance
o f economy, Mr. J lin Crawford alluded to the reference made by the
President to the death of Mr. Meieditli, and said that the remarks so
feelingly made by Sir Donald had met with the hearty reception of
those present. Mr. Crawford touched upon the appointment of Mr. W.
W. Ogilvie as successor to Mr. Meredith on the Directorate, and ex­
pressed the opinion that the Shareholders should have had the privilege
of unearthing such a distinguished gentleman and not the directors.
The President explained that the Directors had no choice ; under the
by-laws it was obligatory upon them to make the appointment.
Mr. Ciawford spoke of Mr. Ogilvie’s ability, and then went on to
remark that from one point of view the financial statement could not
be called a supremely satisfactory one ; on the other hand, he was
qi ite prepared to admit that under all the circumstances it might
have been very much worse indeed, and from that standpoint, there­
fore, it was very gratifying. He regretted to see that the circulation did
not grow apace ; it seemed very apathetic. Competition was sharp at
work, and general managers could not expect to improve the condition
of banks by waiting passively for business. It must be met half-way.
He observed in the statement of assets that included in an item of
$33,000,000 were “ current loans and other securities.” He would like
to know about what percentage of the whole amount these “ other
securities” repiesented.
The General Manager—It is a very small proportion ; about $100,000,
principally in real estate, the property of the Bank other than Bank
premises.
Mr. Crawford considered this reply quite satisfactory. He suggested
that, in future it would be well to place the figures on the financial
statement in parallel columns, showing the several amounts for the
year just closed and ihe preceding j ear. He considered that it would
be a ver> great convenience. The President, he remarked, had stated
in a general wav that the Directors’ expectations regarding the New­
foundland branch had been i ealized. That was very consoling when
it was remembered that the island had for some time been represented
in a quasi bankrupt condition. It was, however, far from being settled
yet. He thought that those who took part in the recent run upon the
banks in Newioundland had not counted the cost, or they would not
have worried about trying to exchange bank notes for gold. In this
part of Canada the name of the Bank of Montreal was a s nonym lor
impregnabiliiy. He supposed ihat the late failure of the two New­
foundland banks had left a very unsavory r. putation behind, and he
respectfully suggested that the watchword of the B nk of Montreal’s
branch down there should be : “ Vigilance and caution.” He advocated
the Shareholders being made acquainted with the Bank s gross i eceipts
gross expenditures and gross losses, ana he also touched upon quar­
terly dividends.
The President—I would say with regard to the remarks of Mr Craw
ford that his suggestion about the parallel columns in the financial
statement might be worthy of Hie consideration of the Directors. I
would also wish to say that in speaking of the financial position of
Newfoundland, I did not venture an opinion in any way. 1 wish that
to be distinctly understood; I only expressed a hope that Newfôundland might at some time enter into Confederation and that we might
work together for a common good.
The motion for the adoption of the Directors’ report, which had been
mov- d by the President and seconded by the Vice-President, Hon.
George A. Drummond* was then agreed to unanimously.
VOTES OF THANKS.
Capt. Benyon moved—
“ That the thanks of the meeting be presented to the President, VicePresident and Directors for their attention to the interests of the Bank. ’»
He also asked that it be placed on record how thoroughly the Share­
holders endorsed the remarks of the President with regard io t..e death
of Mr. W. H. Meredith; and. at the same time he stated what great cpn-




pany the rate of interest which the plan requires that its obli­
gations shall bear. The committee, while construing the
plan as a peremptory obligation upon them if insisted on»
hesitate to set on foot an inevitable failure involving a new
and disheartening liquidation, and therefore bring the
facts to the notice of their constituents. A way out is
suggested by enclosing with their report a proposition
from ihe North American Trust Company which offers (1) to*
take charge of the assets, and as fast as possible realize upon
them and distribute the avails ; and (2) to purchase in ad­
vance, from such debenture holders as prefer, their distribut­
ive share of the avails at eighty per cent of the par of their
debentures, making payment in its own new and well-secured
debentures, payable in fifteen years, with semi-annual inter­
est at three per cent. W e are disposed to commend to the
consideration of such of our readers as are interested the sug­
gestion thus made by the committee.
From official sources we learn that the securities owned
abroad have been returned by the committee to their respect­
ive owners, of whom a large majority have individually ac­
cepted the trust company’s proposition, which has been sub­
mitted to them also. They were excluded from the plan only
after a laborious effort to adapt it *o their views, and not then
until obstructive proceedings in Engli-h courts and the ap­
pointment there of different receivers for each series made it
impossible for them to act colleciively and through those
members of the committee who reside there.
A synopsis of the proposition and statement of the situation
is covered in the following letter of Messrs. Jarvi3 and Conklin»
which has been mailed to the various parties interested,

Ne w

N orth A merican T rust Co m pan y ,
)
N e w Y or k and L ondon ,
l
Y o r k , 40 W a l l S t r e e t , June 10th, 1895. )

To the Holders o f Debentures, Guaranteed Bonds and Mort­
gages and Shareholders o f the Jarvis-Conklin Mortgage
Trust Com pany:
At the time of the suspension of the Jarvis-Conklin Mort­
gage Trust Company, our natural concern for the interest o f
those who dealt with us was quickened to alarm by the situa­
tion which arose. The assets of the company consisted o f
thousands of mortgage loans and securities of local corpora­
tions to be looked after and collected, in eighteen S ’ates and
Territories, and each requiiing for its due protection more or
less of experience, sk»ll and personal familiarity, such as we
had been years embodying in perfected methods and as a
whole requiring also a corps of local representatives, selected,
tiained, and taught to work together. I f the assets were
denied these requisites, they were exposed to sacrifice, disin­
tegration and wreck, and the shareholding interests, our asso­
ciates and our own, were in their turn exposed to total loss.
To prevent this, we accep'ed the appointment as receivers
by the courts o f the United States; and have been able in..

J une 15, 1895.1

1047

THE CHRONICLE.

City Railroad Securities—Brokers’ Quotations.
-that capacity to conserve at once the assets and the manage­
ment, with such result that the trustees or receivers of every
Bid. Ask,
Bid. Ask.
-series of debentures have without exception found it well to
arrange with the receivers to take practical care of the secu­ Atlan. Ave., B’klyn—
Columbus & 9th Ave. 5s. {108*«
Con. 5s, g., 1931. A&O 107 110 D. D. E. B. & Bat’y—Stk. 172*«
rities in their charge, a state of things which continues to this
Impt. 5s, g., 1934..J&J 85
1st, gold, 5s, 1932. J&D 114*9
day. Meantime it was obvious that for every interest the best Bleek.
31
St. & Ful.F.—Stk. 29
Scrip.......................... {104
1st mort., 7s, 1900. J&J {110*9 112*9 Eighth Avenue—Stock... 325
•conservation of all was to reorganize the company on a scale
Scrip, 6a. x914 — ........ 103
way &7th Ave.—Stock. 199 202
of reduced obligation, enabling it to bear the loss occasioned B’1st
mort., 5s, 1904. J&D {106*9 108*9 42d & Gr. St. Fer.—Stock 305 315S
60*9
by economic disasters which affected the whole extensive ter­
2d mort., 5s, 1914.J&J {109 111 42d St.& Mau.&St.N. Av. 56
1st mort. 6s, 1910.M&S] {115 116
B’way lst,5s,guar.l924 {110
ritory in which the company made investments and from
58
2d 5s,int.as rent’1.1905 {10434 106*9 2d mort. Income 6s. J&J 56
which it got returns.
Consol. 5s, 1943... J&D 112 112*9 Long Island Traotion.... 10 10*9
171 Lej.Ave.&Pav.Ferry 5s. {10-**« 108*9
It was hoped that the agreement by which this could be Brooklyn City—Stock.... 370
96
Metropolitan Traotion... 95
Consol. 5s, 194Î...J&J 114
done would find favor as readily in Great Britain as in Amer­
Ninth Avenue—Stook... 150 155
Bklyn.Crosst’n5s.l908 105
Bkl’n.Q’nsCo.&Snb.lst {102
Second Avenue—Stock.. 151 154
ica (where it had proved acceptable to holders of more than
1st mort.,5S.1909.M&N 108 109*«
200
-eighty-five per cent of the debentures aud as large a propor­ Bklyn.C.&N’wt’wn—Stk
Debenture 5s, 1909.J &J 103 104*«
5s, 1939....................... 108*9 109
tion of the shares), so that the new company would practi­ Brooklyn Traction......... 15 16 Sixth Avenue—Stook__ 214*9 217*«
61 Third Avenue—Stock... 180 180 *a
59
Preferred................. .
cally be a renewal of the old with a diminished rate of inter­ Central
1st mort., 5s, 1937. J&J 119
Crosstown—Stk. 185 200
Twenty-Third St.—St’k. 300
1st M., 6s, 1922...M&N {118
est on its obligations.
164*9
167
Deb. 5s, 1903............... 100 105
Cen.Pk.
N.&E.Riv.—Stk.
In England, however, different conditions were preferred,
Union By—Stock.......... 104
Consol. 7s, 1902...J&D {114
and obstructive legal proceedings have also been resorted to; Christ’p’r&lOth St.—Stk. 150 155
1st 5s, 1942.................. {104*9 106
W estohest'r, lst,gu.,5s. { 99 102
1st mort.,1898 ...A&O 105 108
with the final result that all of the debentures owned either
{ A nd accrued interest.
there or elsewhere in Great Britain have been sent ba *k by
the reorganization committee to their respective owners.
Gas Securities—Brokers’ Quotations.
The result is, that instead of an immediate and practically
unanimous reorganization, the reorganiz ition committee now
Bid. Ask.
GAS COMPANIES.
Bid. Ask. Ii GAS COMPANIES.
represent less than thirty-five per cent of the whole, and the
People’ s (B rooklyn ). — . 90
130
clvn
Plan cannot now be successfully carried out.
Central................ . ...... 135 160 Peoples’ (Jersey C ity )— 170
Meantime, also, two disastrous years in Kansas, Nebraska Consumers’ (Jersey City). 78 82 M etropolitan (B rook lyn ). 175
W illiam sburg .................... 205
Bonds............................ 99 101
and other Western States have demonstrated that the rate of Citizens’
65
1st 6s............... ............. L05 108
(Brooklyn)........
interest stipulated in the reorganization plan cannot be earned. Jersey City & Hoboken.. 180** 200 Fulton M u nicipal.............. 175
Bonds,
6 s ...................— 105
108
Metropolitan—Bonds.......
The best endeavors of the receivership in interest collections Mutual (N. Y ................... 170 175 E qu itable.......
. .................. 200
have realized but an average of two and a half per cent per Nassau (Brooklyn)......... 210
Bonds, 6s, 1899 .............. 106
Standard
p
re
f.
. . . . . . . . . . . 107 109
100
Scrip...........
.................
annum, and the situation does not promise any immediate
64
Common................. .
N. Y. & East Biv. 1st 5s.. 96*4
65
64
increase.
60 Western G a s...........
56
Preferred ................
93
Bonds, 5s....................... . {92
33
Common...................
31
The obvious fact that, under these circumstances, to set on
80
79
Consol.
5s......................
foot, as required by the plan, a new company which shall
§ And accrued interest.
issue new debentures for old ones at par and interest, and
shall agree to pay four per cent, when less than three is
Auction Sales.—Among other securities the following, not
•earned, means simply a new failure and further depreciation, regularly dealt in at the Board, were recently sold at auction 5
as has already been brought to your notice by the reorgan­
By Messrs. R. Y. Harnett & C o.:
ization committee.
Shares.
There remain two things that can be done:— 1. The $9,000 St. L. Bonds.
50 Nat’l Broadway Bank...255
N. O. & Ooean
mortgages by which the debentures are secured cau be real­
10 Broadway Ins. Co.......... 137
Canal & Transp Co. of N. J.
1st 6s, 1917.......................... $7
ized upon as rapidly and economically as may be, and the
avails distributed to the debenture holders in instalments,
By Messrs. Adrian H, Muller & Son:
and the transaction closed ; or (2) such debenture holders as
Sh/dircs*
Shares.
prefer not to receive payment in instalments may receive in­ 51 Farmers’ L’ n & Trust Co.761
45 Seattle Coal & Ir.’ Co. $21 lot.
5 Trow Dire dory Printing
stead a new and secured debenture for eighty per cent of the 514 Kings Co. Fire Ins. Co. of
& B'k ind’g Oo., p re f... 61*3
Brooklyn........ 163*9 to 165
face value of the one now owned.
100 Fourth Nat’ i Bank.......... 187
400 Nugget Gold Mining Co.
To secure for each debenture holder a choice between these
20 Wague! Palace Car Co...160*9
of West V a..$5 each. $ 26lot.
100 Mech >nicV Nat’l Bank..187*9
84 Nassau Gas Light Co. of
the North American Trust Company has arranged to offer
25 Bans, of the Republic ...1 55
Brooklyn .....................227
both in America and in Great Britain, to all holders of de­
50 Clark Mile-End Spool
10 Auerbach, Wolverton El.
bentures, an alternative contract such as the committee has
Gotton Co..................... 65*9
Co.................................... 85
enclosed you in accompanying envelop?. It could not be
properly issued here until the reorganization committee
—The 77th annual meeting of the shareholders of the Bank
should first make its views known. It was therefore issued
earlier in England where it has been thoroughly approved of Montreal was held on the 3d inst. Tbe proceedings are
always
attended with much interest, and a report of them
and a majority of the debenture holders in Great Brit­
ain already have accepted one or other of the two plans will be found at length ou other pages of this issue of T h e
C h r o n ic l e . The remarks of the President, Sir Donald Smith,
offered.
To holders of guaranteed bonds and mortgages the trust and of the General Manager, Mr. E. S. Ciouston, will well
company offers a practical and economical liquidation as repay perusal.
—A number of issues of investment bonds and guaranteed
covered in the first section of the plan submitted.
To shareholders of the Jarvis-Conklin Company the trust stocks are advertised in to day’s C h r o n ic l e by Messrs. Red­
company gives an option to purchase at par the trust com­ mond, Kerr & Co., and recommended by them to intending
pany’s stock to the amount of twenty per cent of the par value investors. They will furnish all information concerning these
of the Jarvis-Conklin stock, receiving also in exchange for and other choice securities on application at these offices in
the Jarvis-Conklin stock a further amount of the trust com­ New York and Philadelphia.
pany’s stock as defined in the contract submitted.
-Receivers Howard S. Jaffray, A. D. Juilliard and James
W e believe the North American Trust Company to be fully G. Cannon, of the property of E. S. Jaffray & Co., have de­
responsible for what it thus undertakes. It has free and un­ clared a first dividend of 60 per cent, payable on and after
pledged assets worth fully $250,000, which were never in any June 20th, out of all moneys in their hands, upon all claims
way connected with the Jarvis-Conklin Company. Mr. Sam­ duly proved and admitted as debts and liabilities of the firm.
uel M. J irvis has been elected president, and it is expected
—Dumont Clarke, President of the American Exchange
that after the termination of his duties as receiver Mr. Roland National Bank, has been elected a director of the United
R . Conklin will become identified with the trust company as States Mortgage & Trust Co. The company has also de­
its vice-president. The company will in this way have the clared a semi-annual dividend of 3 per cent upon the capital
benefit of those things which as above stated we believe to be stock, payable July 1.
indispensable and which have in practice been found to be so.
Its very large holdings already received will enable it the
A l e x a n d e r M. W h it e , J r .
G eo r g e B a r c l a y M o f f a t .
better to maintain them.
You will note that as at present empowered the reorgani­
M
o
f
f
a
t
&
W
h ite,
zation committee feels itself obliged, unless in respoase to
their suggestion you release them from that obligation, to
BANKERS,
proceed with the organization of the Investment Securities 3 0 P I N E S T R E E T ,
N E W
Y O R K
Company and the issue of its obligations, although the situa­
INVESTMENT
SECURITIES.
tion shows the first official act of its directors after complet­
ing such technicalities should be the announcement of the
insolvency and failure of the Investment Securities Company.
am uel
a v is
o
Obviously it is desirable to sive such needless expense and
delav by creditors now signifying their election to take one
BANKERS,
o f t¿e alternative propositions of the North American Trust
N O . 4 0 W A L L S T ., N E W Y O R K .
•Company.
S amuel D. D a v is ,
Ch a s . B. V an N ostran d .
You are respectfully invited after considering the trust
company’s proposition to append your signature to one or
the other of thi two form3 of acceptance, and return it with
the receipt which you hold from the reorganization com­
mittee to the North American Trust Company, 40 Wall Street
New York City.
2 7 & 29 P IN E S T R E E T ,
NEW YORK.




S

D. O

& C .,

Spencer T ra s k & C o . ,
BANKERS,

S a m u e l M. J a r v i s .
R o l a n d R . C o n k l in .

65 State Street, Albany,

[INVESTMENT

SECURITIES.

1048

THE CHRONICLE

rvoL. l x *

Posted rates of leading bankers are as follows :

S h e l a u t o ' < S a *elte.

June 14.
D I V I D E N D S .

Name o f Company.

Per
Cent.

When
Payable.

R a ilr o a d s .
Boston Revere Beach & L ynn ..
2
July
Ohio. St. P. Minn. & Om. p ref...
3% Aug.
Fitchburg, pref............................
2
July
Maine Central (quar.).................
Ha July
Manhattan (quar.)............... ......
1% July
Minneapolis & St. L. 1st p ref___
3% July
New York & Harlem..........
4
July
Northern Central................
3
July
Norwich & Worcester____ _____
4
July
Rock Island & Peoria . . . .............
2% July
Rutland, pref...............................
2
July
R anks.
Fifth Avenue (quar.)................... 20 > July
do
do
(extra)...................
5 5
T r u s t C o m p a n ie s .
Knickerbocker..............................
3
July
July
United States Mort. & Trust.......
3
M is c e lla n e o u s .
American Beil Telep. (quar.)....
do
do
(extra)....
? * } July
Baltimore City Pass. R y.............
6
July
Ch.Jo.Rys.&Un.8tk.Yds.pf.(qr.)
1%1
do
do
common.
4 S July
4
Dominion Coal, Ltd., pref...........
July
Interior Conduit & Insulation...
1% July
2
July
P. Lorillard, pref. (quar.)............
5
July
Quinoy RR. B rid g e.....................
Union Ferry (quar.).....................
1
July
Western Union Teleg. (quar.),...
1% July

Books closed.
(Days inclusive.)

1
to
20 'Aug. 1 to Aug. 20
15 July 1 to July 15
1 ---------- to -----------1 June 15 to July 1
15 July 2 to July 15
1 Juñe 16 to July 1
15 ---------- t o -----------■
to — .......
5 —
1 June 21 to July 1
1 June 21 to July 1

1 June 21 to
1 June 21 to
15 July
1 June
1 June
1 June
15 July
1 June
1 June
1 June
15 June

1 to
18 to
18 to
16 to
2 to
21 to
24 to
21 to
21 to

1894.
June 9.

1893.
June 10.

$
59,922,700
71,545,100
465,403,700
9,903,500
570,880,200
100,475,500
119,162,800
219,638,300
142,720,050

$
60,422,700
71,594,800
414,400,200
5,613,500
418,925,600
69,529,300
49,623,000
119,152,300
104,731,400

Surplus reserve 39,667,900 Dec.1,553,350 76,918,250

14,420,900

Capital................
Surplus............ .
Loans & disc’nts.
Circulation........
Net deposits.......
Specie..................
Legal tenders__
Reserve held......
Legal reserve__

$
9
62.622.700
72.302.700
503,437,600 In c. 890,400
13,233,500 Deo.
22,700
565,996,800 Deo. 232,600
70,783,800 In c. 142,800
110,383,300 Dec. 1,754,300
181,167,100 Dec 1,611,500
141,499,200 Dec.
58,150

Foreign Exchange.—The foreign exchange market has been
dull but generally firm in tone until Thursday, when it be­
came somewhat easier on more liberal offerings of Syndicate
bills. The supply o f commercial bills has been limited and
readily absorbed.
To-day actual rates o f exchange were as follow s: Bankers,
sixty days sterling, 4 883^@4 88V; demand, 4 89V@4 89 V ; ca­
bles, 4 89%@4 89%.
The following were the rates of domestic exchange on New
York at the under-mentioned cities to-day: Savannah, buying
par, selling %@1-10 prem ium ; Charleston, buying par,
selling % premium; New Orleans, bank, $150 premium,
commercial 25c. premium; Chicago, 80c. per $1,000 pre­
mium; St. Louis, 60@75c. per $1,000 premium,




United States Bonds.—Sales of Government bonds at the
Board include $35,000 4s, registered, 1907, at 111^@112; $5,000
4s, coupon, 1907, at 113*^; $5,000 5s, coupon, at 116V, and
1,000 4s, coupoD, 1925, at 123%.
The following are the closing quotations :
Interest June
Periods 8.

June
10.

June
11.

June
12.

June June
13.
14.

2 s ,. . . . . . . . . . . . .reg. Q.-Moh. * 97 * 97 * 97 * 97 * 97 * 97
4s, 1907............ reg. Q.-Jan. *111*8 *111*8 112
112 *111% 111%
4s, 1 9 0 7 .......coup. Q.-Jan. *113
11310 *113 *113 *113 *113
July 1 4s, 1 9 2 5 ....... .reg. Q.-Feb. *12330 *123% *123% *12330 *12338 *123%
July 1 4s, 1925..........coup. Q,.-Feb. *12330 *123% *123% 123% *123% *12330
5s, 1 9 0 4 .........reg. Q.-Feb. *116 *116 *116 *116% *116% *116%
July 15 5s, 1 9 0 4 .......coup, Q.- Feb. 116% *116 *116 *116% *116% *116%
6s, our’oy,’ 95.. .reg. J. & J. *100 *100 *100 *100 *100 *100
July 1 6s, our’cy,’96...reg. J. & J. *101 *101 *101 *101 *101 *101
July 1 6s, our’cy /9 7 . .reg. J. A J. *103 *103 *103 *103 *103 *103
6s, our’ey,’ 98.. . reg. J. & J. *106 *106 *106 *106 *106 *106
June 28
J. <fe J. *10*% *108% *103% *108% *108% *108%
July 15
March. *100% *100% *100% *100% *100%
June 30
March. *100% *100% *100% *100% *100%
July 1
March. *100% *100% *100% *100% *100%
July 1
March. *100% *100% *100% *100% *100%
June 30
This is the price bid at the morning board, no sale was made.

W A L L S T R E E T , F R ID A Y , JU N E 14, 1 8 9 5 .- 5 P . M .

Differen’tfrom
Prev. week.

Demand.

1 June 27 to June 30

The Money Market and Financial Situation.—The condi­
tion of the growing crops is the most prominent factor which
has affected the course o f business in W all Street during
the week now closing. The reports from all sources have
been sufficiently favorable to stimulate activity in railroad
securities, and especially the securities of such roads as will
be most directly benefitted by an abundant harvest.
The foreign demand for our securities has not been a
prominent feature, and the activity and buoyancy o f the
market are due largely to the home demand.
Capitalists and investors are favorably influenced by the
constantly increasing general business of the country as re­
flected in the latest, reports of railroad earnings, in the bank
clearings, in the condition o f the iron and steel trade, and in
the higher wages now so generally being paid to mechanics
and operatives.
The stock market has been somewhat erratic to-day. Rail­
road stocks are generally strong at the close. Several o f the
leading industrials have been influenced by conditions en­
tirely outside of those generally prevailing, and therefore
their movements have little significance.
Money continues very plentiful at unchanged quotations.
The open market rates for call loans during the week on
stock and bond collaterals have ranged from 1 to 1% per
cent. To-day rates on call were 1 to 1% per cent. Prime
commercial paper is quoted at 2% to 3% per cent.
The Bank of England weekly statement on Thursday
showed an increase in bullion of £375,852, and the percentage
of reserve to liabilities was 62 84, against 62-19 last week; the
discount rate remains unchanged at 2 per c^nt. The Bank of
France shows a decrease of 3,585,000 francs in gold and
an increase of 1,363,000 francs in silver.
The New York City Clearing-House banks in their statement
of June 8 showed a decrease in the reserve held of $1.611,500 and a surplus over the required reserve of $39,667,900,
against $41,221,250 the previous week.
1895.
June 8.

Sixty Days.

Prime bankers’ sterling bills on London..
4 89
4 90
Prime com m ercial.................................... 4 87%@4 88
Documentary commercial......................... 4 87%@4 87%
Paris bankers’ (francs)............... . . . . . . . 5 163le@5 16*4 515 @5 145,«
Amsterdam (guilders) bankers................ 40316@ t()%
40%@407la
Frankfort or Bremen (reiohmarks) b’kers’ 957i«@95%
95%@95l3la

United States Sub-Treasury.—The following table shows
receipts and payments at the Sub-Treasurv.
Date.
J’ne 8
•• 10
“ 11
« 12
“ 13
“ 14

Receipts.
$
2,410,744
2,566,013
2,742,297
2,548,142
2,826,713
3,183,214

Payments.
$
2,432,508
2,789,904
3,139,265
2,499,442
2,216,243
3,204,092

Coin.
9
93,218,971
93,201,219
92,376,036
92,330,587
92,354,264
92,802,480

Balances
Coin Cert's. Curren. y
$
978,953
948,677
912,486
790,691
815,685
867,862

9
65,293,370
65,117,507
65,581,913
65,797,856
66,359,656
65,838,384

Total 16,277,123 16,281,454

Coins.—Following are current quotations in gold for coins:
Sovereigns...........$4 90
Napoleons........... 3,90
X X Reiohmarks. 4 78
25 Pesetas........... 4 80
Span. Doubloons. 15 50
Mex. Doubloons.15 50
Fine gold bars.. . . par

@$4 95
@ 3 95
@ 4 85
@ 4 88
@15 75
@15 75
@ >4 prem.

Fine silver bars... — 67 @ — 68
Five francs...........— 90 @ — 95
Mexican dollars.. — 53 @ — 54
Do uncom’ o ia l..-------@ ---------Peruvian solS.......— 49 @ — 52
English silv er.... 4 85 @ 4 92
U. S. trade dollars — 55 @ — 75

State and Railroad Bonds.—Sales of State bonds at the
Board include $26,500 Virginia fund. debt. 2-3s of 1991 at 62;
$35,000 Virginia 6s defd. trust receipts, stamped, at 6@6%;
$9,000 Tenn. settlement 3s at 88V@89, and $15,000 Arkansas
7s, L. R. P. B. & N. O., at 8 to 9.
The market for railroad bonds has been active and firm
with the interest well distributed and with prices generally
advancing through the week. Atchison 4s have sold up to
75%, the highest point reached since last July, and the class
As have gained over 2 points during the week. Northern Pa­
cific 2d and 3d coupon con. 5s col. trust notes have advanced
from 3 to 4 points. Ches. & Ohio 4Vs, Mo. Kan. & Tex.
2ds, Reading lsts and 2ds, Rio G. West, lsts, Southern
Ry. 5s, Tex. & Pac. 2ds, Wabash 2ds, Cordage lsts and
St. L. Southwest, lsts have gained from 1 to about 2 points,
while Mo. Kan. & Tex. lsts, Reading 3ds, Tex. & Pac. 1st 5s
and St. L. Southwest. 2ds have made smaller gains. Ore. Imp.
cons, have declined 3% points.
Railroad and Miscellaneous Stocks.—The stock market has
been active and buoyant. Of the railroad list the grangers
have benefitted most by the dominant influences and are from
about 1% to nearly 4 points higher than at the close last week.
The coal stocks have not been specially active, but are strong
and higher on rumors of more favorable conditions in the coal
trade in the near future. Central of N. J. sold above par on
Thursday and closes at 100%, against 98% last week, and Read­
ing closes at 18%, against 16% last week. Louisville & Nash­
ville has gained over 1 point on light transactions. Manhat­
tan Elevated has been strong on the announcement o f a regu­
lar quarterly dividend o f 1% per cent and has advanced from
112% at the close last week to 114 ex. div. to-day. N. Y . Sus.
& Western has recovered a part of last week’s loss. Southern
Railway shares are strong on favorable reports o f earnings
and traffic alliances. Northern Pacific has been weak on
|rumors o f probable heavy assessments on reorganization.
Of the industrials Am. Sugar has led in volume of business,
and sold on Thursday at a fraction above 121—the highest
point reached since March, 1893. Am. Tobacco has made a
substantial gain, closing at 114. Distilling has been some­
what irregular under the uncertainty o f litigation, fluctuat­
ing between 18% and 20%. Pacific Mail continues a strong
feature and has advanced nearly 3 points since last week.
Tenn. Coal & Iron reflects still further the more favorable
condition o f the iron trade, and has sold this week at 33%—
the highest point since early in 1893. Western Union
has been prominent on the announcement of a regular quar­
terly dividend o f 1% per cent, and closes at 93%. Cordage
shares have continued a weak feature.

1049

THE CHRONICLE.

J une 15, 1895.]

NEW YORK STOCK EXCHANGE— A C T I V E S TO C K S fo r week ending J U N E 14, and since JA N . 1, 1895.
HIGHEST AND LOWEST PBIGES.
Saturday,
June 8.
6
*1
*62
*52
53%
98%
*18%
22%
*150
81%

6%
1%
63
53%
99%
19%
22%
81%

66% 66%
*120% 121%
98% 98%
*144% 145%
69% 69
39
39
*113 115
44% 44%
*88% 89%
25% 26%
*62
65
129 129
161% 161%
*14% 15%
*47% 47%
*45
50
*128 133
97
*95
9%
9%
31% 31%
23% 23%
*81% 82%
147% 147%
*86
88
*11% 12
57% 58%
9% 10
26% 26%
112% 113
*99% 100%
19
*18
84
84
*44
45
16% 16%
31
31%
28
28
*23% 24%
*101%
*16%
*68
*30%
10%
*43%
*208
18%
8
22%
3%
*14%
5
18%
* •
”29%
*6
*5%
16%
19%
51%
*29
*114
*
7%
15%
*91
112
24
13%
39
11%
*2%
*47
*79%
13%
*5%
8%
19
13 %
*42
*5
*27%
74
117%
100%
113%
114%
73%
148
19%
36%
35%
*89
5%
12%
28%
*140
*172
*67
29%
1%
2%
20%
93%
41
92%

Monday,
June 10.

Tuesday,
June 11.

Wednesday, Thursday,
June 13.
June 12.

27%
74
118%
100%
113%
114%
73%
149
20%
36%
36
89%
5%
12%
28%
173%
67%
31
1%

3%
21
94
42
92%

STOCKS.

A c tiv e R R . S to c k s .
10% Atchison Topeka A Santa Fe.
10% tlO% 10% tlO% 10% HO
6% 7% t i o
1% Atlantic A Pacific....................
1% *1%
1%
1% *1%
*1%
1%
1%
1%
*62% 64 Baltimore & O hio....................
64
63
63% *63
63
63
63% 63
54% 54% 54% 54% Canadian Pacific......... .
54
54
53% 54
54% 55 Canada Southern....................
54%
54%
54%
54%
55
53%
53% 53%
94% 99% 98% 99% P9% 101% 100% 101 Central of New Jersey............
98% 99
19
19 Central Pacific........................
19%
19%
*19%
19%
*19
19%
18% 18%
22% 22% 22% 22% 22% 22% 22% 22% 22% 22% Chesapeake & O hio................
Chicago & A lto n _____ _____
*150 155 *150 155 *152 ........ *152
84% 85% 34% 85% Chicago Burlington & Quincy
81% 82% 82% 85% 84% 86
*53
53*4
53%
53%
Chicago
& Eastern Illinois...
53
53%
*51
54
*99% 100
Do
pref.
100 100% 100 100
100 100
100 100
68
68%
Chicago
Milwaukee
A St. Paul
68%
68%
6678 67% 67% 68% 67% 69%
Do
pref.
121%121% 122% 122% 121% 121% 122% 122% 122% 123
99% Chicago A Northwestern.......
98% 99% 98% 99% 99
x97% 97% 97% 99
144% 144% 145 145
Do
pref.
*143 ....... *143% 145 *143% 145
69% 69% 69% 71% 71% 72% 71% 72% 71% 72% Chicago Book Island & Pacific
40% Chicago St. Paul Minn. A Om.
40% *40
39% 40
40
40% 40
39
39
117% 117%
Do
pref.
115% 116 *116 118 *116 118
115 115
44
44% 44% 46% 45% 45% 45% 45% Cleve. Cincin. Chic. & St. L ...
92% 92% *89% . . . .
Do
pref.
89% 89% 89% 89% 89% 91
26% 26% Columbus Hooking Val. <ft Toi
26% 26% 27
26% 26% 26% 26% 26
*62% 64
*62
65
Do
pref.
*62
65
*62
65
*62
65
129%
130 Delaware A Hudson...............
129%
129%
129
129%
129
129%
128% 128%
162 162% 162% 162% Delaware LaokawannaAWest
161% 16Ì% 159% 161 *160% 161
*14% 15% *14% 15% 14% 14% *14% 15% *14% 15% Denver & Bio G rande............
*47
47%
Do
pref.
46% 46% *47% 48
47
46% 46% 47
*44
46 Evansville & Terre Haute___
46
47
47% *44
*45
50
*45
50
131% 132 *131 133% Great Northern, pref.............
131 131
129% 130
*128 133
96% 96% 96% 96% ‘ *95% 96% 95% 95% Illinois Central.......................
95
95
11% Iowa Central............................
10% 11% 11
9% 10% 10% 11
9% 10
Do
pref.
31% 31% 32% 33% 33% 34% 34% 34% *33% 35
24% 24% 24% Lake Erie & Western. . . . . __
24
24% 24
25
23% 24% 24
*82
84
84
Do
pref.
83% 83% 84% *82
82
83% 83
147% 148% 148 148 Lake Shore A Mich. Southern
147 147% 146% 147% 147% 149
*86
88 Long Island.............................
*86
88
'8 6
88
88
88
*86
88
10% 10% 10% 10% Long Island T raction ............
11%
10%
11
11
11% 11%
58% 59% 58% 59% 58% 58% Louisville A Nashville............
58% 58% 58% 59
9% 9% Louisv.New Alb. A Chicago.
9% 10%
9% 10%
9% 10%
9% ÌÒ “
27%
27% *27
Do
pref.
27% 27
27% 27
27
27% 27
II113
115% Manhattan Elevated, consol..
115%
115%
114%
114
114%
115%
113% 114%
101% 101% 102 102% Michigan Central....................
*99% 100% 100% 100% 100% 102
19% 19% 19% Minneapolis A St. Louis........
18% 18% 18% 18% 18% 18% 19
86%
Do
1st pref.
83% 84% 83% 83% 83% 84% 84% 84% 85
45% 46%
45%
45%
Do
2d pref.
45%
45%
45%
45%
44% 44%
17% 17% 17% Missouri Kansas A T exas...
17% 17
16% 17
16% 16% 17
32% 33
32% 32% 33
32% 33
Do
pref.
31% 32% 32
29% 29% 29% 29% 29% Missouri Pacific..................
28% 28% 28% 29% 29
25% Mobile A Ohio....... ..................
25% 24% 24% 24% 24% 25
24% 24% 25

iö i% 101% 102% 102%
17% 17% 17% 17%
72
*70
*69
72
31% 30% 30% 31%
11% 10% 11% 11
24 *........
24
43% 45
44
44%
43 % 44
212
*209
*209
*208
18% • 18% 18% 18% 18% 18%
8%
8%
8%
8%
7%
8%
24% 21
23% 23% 24% 24%
3%
3%
3%
3%
*3% 4
*14%
15
*14% 15%
5
5%
5%
5%
5%
5%
18% 19% 19% 19% 20% 19%
.
13 *
13
32
29
29% 28
28
9
*6
*6
9
7
7
6
*5%
5%
6
*5%
6
17% 16%
16
16% 1578 17
20
19% 19% 19% 19% 20
51% 5178 5178 52% 52% 52
31
*30
*30
30% 30% 31
*17%
*18% 19% *17% 19
113 113 *113
115 *114 115
63
62
61
68 *........ 67
7%
7%
7%
7%
7
7
15% 15% 15% 15% 15% 15%
*29
31
95
*91
*91
95
*91
95
112 *114 117 *114 115 *114
24%
24% 24% 24% 24% 25
13%
13% 13% 1378 13% 14
39
39% 39% 39% 40% 40
12
1178 12% 12% 12% 12%
*2%
3% *2%
3
*2%
3%
48
48
*47
48
*47
48 '
81
*79%
81
81
*79% 81
14
14
13%
13% 13% Ì4
5%
6
*5%
6
*5%
6
9
9%
9
8%
8%
878
19% 19% 19% 19% 20% 19%
14% 14%
14% 14
14% 14
*43% 45% 45%
46%
*5
*5
5%
5%
*5
5%

101%
17%
72
32
11

Friday,
June 14.

iö i%
*16%
*69
*30%
11%

27
27% 27% 27% 28%
*73
74% 73% 73% 74
117% 118
117% 11878 118%
102%
101 101% 101% 102
115
113% 11378 114 116
115
*113 114% 114 114
7378 74% 73% 74% 71%
146% 148% 148
148% 149
20% 2078 1978 20% 18%
36% 37% 35%
36% 37
35% 36% 35% 36% 35%
89% 89% 89% 90
89%
5%
5%
5%
6
6
*12
14
*12% 13% *12
29
28% 29
30% 30%
143 143 *143
*150
172% 172% 173 173% *172%
*66% 67% *66% 67% *67
31% 32% 32% 33% 32%
90
90
90
90
90
2
1%
1% 2
1%
3%
3%
3
3%
3
21% 21
20% 21% 21
93% 93% 93%
93% 94
41
41% 42% 41% 42
93% 93%
92% 93% 93

*Xhese are bid and naked; no sale made.




102%
17%
72
31%
11%
25
44%
212
18%
10%
27%
3%
15%
6
20
13
9
5%
17
20%
52%
31
19
115
62
7%
16%
95
117
25
14%
41%
12%
3%
49
81
13%
6%
9%
20%
14%
45%
5%

102%
17%
*68
32
11
44%
213%
18%
9%
26%
3%
14%
4%
17%
* .. .
30%
*7
5%
16%
20%
52%
30%
*18
*113
62
7%
15%
*29
*91
*114
24%
14%
41%
12%
*2%
47%
*79%
12%
*5%
9%
19%
14%
45%
5%

102% 102% 102%
17
17% 17
72 *«•■■■■ 72
32
32% 32
11% 10% 10%
44%
213%
18%
10%
28%
3%
14%
5%
19%
13
30%
9
5%
18%
20%
52%
31
19
115
62
7%
16
31
95
117
24%
14%
42%
12%
3%
47%
81
12%
6%
9%
20
14%
45%
5%

43%
215
18%
10%
28%
3%
14%
5
17%
*........
29
6%
*5%
17%
19%
*52
*30
19
113
62
7%
15%
*30
*90
*114
24%
14%
41%
12%
*2%
49
*79%
12%
*6
*8%
19%
14%
45%
5%

45%
215
18%
11%
31%
3%
14%
5%
18%
13
29
6%
6
18%
19%
52%
30%
19
113
65
7%
15%
31
95
117
24%
14%
41%
12%
3%
49
81
12%
6%
9
19%
14%
46%
5%

Bange for year 1895.
Lowest.

Highest.

3% Jan. 30 110% June 12
2 May 13
% Feb. 27
49 Mar. 8 65% Jan. 18
59
Jan. 2
33 Mar. 8
48 Jan. 30 55% May 17
102%
May
18
81% Feb. 18
12% Feb. 6 20% May 13
16 Jan. 29 23% May 11
147 Jan. 9 150 Apr. 26
141,271 69 Mar. 4 86 June 12
600 50 Jan. 12 57 May 8
865 90 Jan. 31 102 May 27
117,134 53% Mar. 9 69% June 12
840 114% Mar. 29 123 June 14
29,773 87% Mar. 4 100% May 17
301 137 Feb. 14 145 Jan. 25
45,474 60% Jan. 3 72% June 12
8,707 28% Mar. 8 40% June 12
412 104 Mar. 30 116 June 11
6,200 35% Feb. 13 46% June 12
1,274 82 Jan. 10 91 June 12
4,320 16 Jan. 29 277a Apr. 1
55 Jan. 9 69% Mar. 27
2,913 123 Mar. 9 133% Jan. 18
4,686 155% Mar. 8 166% Jan. 18
108 10% Jan. 29 16% May 11
295 32% Jan. 29 48% May 11
1,000 30 Feb. 20 51 May 11
980 100 Jan. 28 133 May 22
462 81% Jan. 4 98 May 13
6,776
538 Jan. 28 11% June l3
2,125 19 Jan. 31 347g June l3
9,850 15% Feb. 11 25% May 27
830 69 Jan. 28 84 May 24
3,729 134% Jan. 2 149 June 12
6 83% Apr. 19 88% Jan. 5
3,352
5 Mar. 25 13% Apr. 25
20,i 26 46% Mar. 12 61 May 11
5,440
6 Mar. 6 10% May 24
2,100 20 Jan. 4 29% May 18
10,721 104 Jan. 2 11978 May 7
902 91% Mar. 4 102 % May 16
7,341 14 May 23 19% June 14
4,004% 79 May 23 86% June 14
1,770 39% May 23 46% June 3
3,258 12% Jan. 30 18% May 11
11,071 21% Jan. 29 33% May 8
10,720 183ji Mar. 11 29% June 12
1,710 13% Mar. 20 27 May 31
64 Jan. 29 70 Jan. 18
2,263
92% Mar. 15 104 May 16
New York Centrai A Hudson.
1,625 11% Feb. 20 18% May 13
New York Chicago A St. Louis
65
Apr. 23 72 May 25
.
.
.
.
Do
1st pref.
523 24 Feb. 21 34% May 17
Do
2d pref.
7%
Mar. 9 14% May 13
4,450
New York Lake Erie A West’n
100 16 Feb. 26 30 May 13
Do
pref.
29 45% May 27
29
Jan.
7,635
N.Y. A N .E., tr. reos.all ins.pd
25 193 Mar. 20 215 June 14
New York New Haven AHart.
3,257 15% Jan. 3 19% May 11
New York Ontario A Western
6% June 7 14% Jan. 21
New York Susq. A West., new . 12,870
Do
pref. 43,314 21 June 10 43% Jan. 18
6% May 13
2 Mar. 5
4,030
Norfolk A W estern.................
9% Mar. 4 19% Jan. 18
250
Do
pref.
8% May 13
2% Jan. 28
8,076
Northern Pacifie.....................
Do
pref. 14,223 13 Feb. 27 27 May 11
6% June 14 19% May 1
Ohio Southern........................
1,430 17 Apr. 5 32 June 11
Oregon B’y A Navigation Co.
9% May 13
3% Jan. 29
410
Oregon Sh. Line A Utah North
7 May 13
3 Feb. 4
215
Peoria Decatur A Evansville.
7% Mar. 4 21% May 13
Philadelphia A Beading........ 102,750
2,210 15 Jan. 12 22% May 13
Httsburg Cinn. Ohio. A St. L.
1,083 43% Jan. 30 54 May 13
Do
pref.
413 28 Apr. 17 33% Jan. 3
Pittsburg A Western, pref ...
400 15 Apr. 16 19% May 22
Bio Grande Western...............
55 112% May 4 117% Jan. 21
Borne Watertown A Ogdensb.
2,500 35% Feb. 15 68 June 6
St. Louis Alt. A Terre Haute.
7% May 25
4% Jan. 25
1,670
St. Louis Southwestern..........
8% Jan. 29 17% May 25
5,573
Do
pref.
18 Feb. 5 31% May 18
Ht. Paul A Duluth..... ....... . .
. . . . - 90 Feb. 4 95 May 11
Do
pref.
15 104 Mar. 8 116% May 15
St. Paul Minn. A Manitoba...
2,610 16% Apr. 17 25% June 3
Southern Pacific C o ..............
8% Jan. 29 14% May 10
Southern voting trust, oertif. 26,720
Do., pref. voting trust, cert. 49,847 29% Jan. 29 42% June 13
8% Jan. 30 13% May 13
8,070
Texas A Paoifio.......................
4% May 14
% Feb. 14
Toledo Ann Arbor A N. Mich.
618 41 Jan. 14 49 June 14
Toledo A Ohio Central............
25 73 Jan. 14 81 Mar. 21
Do
pref.
7% Mar. 14 17% May 11
4^628
Union P a c i f i c . . . . . . . .. . . . . . . . .
7% May 14
3% Feb. 11
200
Union Paoifio Denver A Gulf.
9% May 13
5% Mar. 6
4,245
W abash...................................
Do
pref. 20,802 12% Jan. 29 20% May 13
15%
May 14
8%
Feb.
28
14,290
Wheeling A Lake Erie............
915 35 Feb. 25 48 May 15
Do
pref.
6%
May 14
2%
Mar.
1
1,003
Wise. Cen. Co.,voting tr. otfs.
t l is c e lla n e o u s S t o c k s .
30%
May
13
18%
Feb.
13
550
American Cotton Oil C o ......
770 62 Feb. 18 79% May 13
Do
pref.
121%
June
13
American Sugar Beflning Co. 183,094 86% Jan. 3
4*17 / 90% Jan. 8 102% June 12
Do
pref.
American Tobacco C o ....___ 44,139 84% Feb. 21 117 May 27
285 103% Feb. 27 115 May 25
Do
pref.
Chicago Gas Co„ trust rec’ts.. 131,390 70 Mar. 5 78% Jan. 11
7f 148 126 Jan, 29 149 June 8
Consolidated Gas Company..
Dis. A C.F.Co.,tr.otf. all ins.pd 81,497 13% Mar. 20 24% May 13
General Electric Co................. 25,044 257s Mar. 4 37% Mar. 25
8,600 26% Feb. 16 38 Jan. 18
National Lead C o ..................
2,488 78% Jan. 28 91 May 17
Do
pref.
7 May 13
2% Jan. 30
7,193
North American C o . . . . . . . . . . .
8 Mar. 8 14% May 24
110
Oregon Improvement Co.......
27,574 20 Jan. 26 32% June 13
Paoifio Mail..........................
3,000 95% Jan. 4 181 May 10
Pipe Line Certificates............
472 154 Jan. 2 177 May 2
Pullman Palace Car Company
Silver Bullion Certificates___ 40,000 60 Jan. 10 68% Apr. 1
Tennessee Coal A Iron---------- 67,743 13% Jan. 29 33% June 11
140 74 Apr. 17 88 May 27
Do
pref.
8% Jan. 4
1% June 8
7,383
United States Cordage Co—
2% June 8 13% Jan. 4
4,190
Do
pref.
7 Feb. 27 24% May 3
5,375
United States Leather C o. . . .
4*153 58 Feb. 27 97% May 27
Do
pref.
9,133 38% Mar. 5 48 June 3
United States Bubber C o .....
Western Union Telegraph---- 26,254 86 Jan. 29 94% June 14

27% 27% *27% 28%
74
74
73% 74
119% 121% ¡1117 121%
102% 102% xl00%100%
114% 116% 113 116
114% 114%
114% 115
72% 75% 74% 76%
147
147
147% 148
19%
18% 19% 18
35% 36% 34% 36%
35% 36% 35% 36%
90%
89% 90% 90
5% 6
5%
6%
*12
13% *10% 12
31% 32% 30% 32
‘ 1 5 4 % ........ *156% ........
173% '172 173% 173 173%
67%
67% 67% 67% *67
31% 32%
33% 31% 33
90% 91% 91%
2
1%
1%
1%
2%
3%
3%
3%
3%
3%
20% 21%
21% 20% 21
94
94%
94
93% 94
42
40% 41% 41% 41%
93% 93% 93% 93% 94%
||Lowest is ex dividend.
1 1st Instalment 3 % paid.

28%
74
119%
102%
115%
115
74%
149
20
36%
36%
89%
6%
13
32

Sales of
the
Week,
Shares.
28,061
300
1,015
950
6,170
13,104
320
9,346

1050

THE CHRONICLE.

MEW YORK STOCK EXCHANGE PRICES (Continued)—I N A C T IV E STOCKS.
June 14.

I k active Stocks
f Indicates unlisted.

Bid.

Ask.

Range (sales) in 1895.
Lowest.

Highest.

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

.100
.100
.100
.100
.100
.100
.100
.100
. 50
.100
.100
.100
.100
.100

17m
101« 12
103
20
19

6

Apr.

12

May

105 1011« Apr. 103
2L1«
21
19 Apr. 24
60
58 Jan. 60

Feb.
May
Apr.

45
157
157% Jan.
5% Feb. 10% May
t 9
39
2% Mar.
6% Apr.
t 6
11% 13% 5% Mar. 13% May
15
16%
9 Apr. 17% May
; 40
34 Apr. 45 May
.100
i
1%
% Feb.
2 May
.100
21«
3<fl 1% Feb.
4% May
.100
.100
86 May
9
.100
10%
8% Feb. 10 Apr.
.100
4
5%
3 Jan.
6 May
.100 17
13% Mar. 16 June
too
4
1% Apr.
1 % Apr.
. i»0 115
. 50 106
.100
100 11% 12%
8 Mar. 13% May
100
21«
3%
l % Apr.
4 May
100 ... __ 25 % Feb. 38 May
.100 .. ___ 46% Jan.
66% May
156 Feb. 164 Jan.
New Jersey & N. Y.
.100
.100
.100
118 Feb.
.100 65
65 Apr. 66 Apr.
.100
4%
6
2 Jan.
5% May
.100 17 i
180 Jau. 183 Apr
IOO Î 44% 44% 30 Mar. 46% May
' No price Friday ; latest price this week.
1Actual sales.

I nactive stocks .
1f Indicates unlisted.

[ V o l . LX.
(%Indicates actual sales.)
June 14.
Bid.

Ask.

Range (sales) tn 1895.
Lowest.

.100
Toledo St. L. & Kansas City 1). .100
6
7
6% May
M is c e lla n e o u s S to c k s ,
Adams Express......................... .100 U45%
140 Jan.
41% 43% 37 May
American Bank Note Co I f ___
American Express................... .100 Î114
109 Feb.
Amer. Telegraph & Cable....... .100 95%
89 Mar.
Bay State Gas i f ....................... 50 1 22%
13 Mar.
Brunswick Company............... .100
2%
3
1% Apr.
Chic. June. Ry. & Stock Yards .100 ........ ....... 89 Feb
Preferred. ............. .......... IOO
Colorado Coal & Iron Devel.. .100
8%
9%
4 Mar.
Colorado Fuel & Iron............. .100 t 28% 29
23 % Mar.
Preferred . . ......................... 100
50 Fob.
Columbus & Hocking Coal___ 100 : s-«
9%
2% Jan.
Commercial Cable................ ..
160 162 145 May
Consol. Coal of Maryland....... IOO 30
35
28% Apr.
Edison Electrio Illuminating.. .100 1101 101% 94% Mar.
Erie Telegraph & Telephone .. 100
45% Feb.
Interior Conduit & I n s .......... 100
30% Feb.
Laclede Gas............................... .100 1 32% 32% 23% Jan.
Preferred........ ....................... .IOO 86
88
81 Mar.
Lehigh & Wilkesbarre Coal K .
20 Jan.
Maryland Coal, pref............. .100 50
70
50 Jan.
Michigan-Peninsular Car Co.. .100
Preferred................................ 100
52 Jan.
Minnesota Iron......................... IOO Í 62
62% 39% Mar.
National Linseed Oil Co.......... 100 Í 29
17% Jan.
National Starch Mfg. Co......... 100 Î 8
5 Jan.
New Central Coal..................... 100
8
9
6 Jan.
Ontario Silver Mining_______ 100 ... _
8% Mar.
Pennsylvania Coal..... ............. 50 310
310 Jan.
Postal Telegraph—Cable If. .. 100 83% 86
69 Apr.
Quicksilver Mining.......... ........ IOO
2b
3%
2 Jân.
Preferred................................ IOO 17
20
12% Jan.
Texas Pacific Land Trust....... 100 10
11%
7 Mar.
U. 8. Cordage, guaranteed___ loO
7
8
6 June
U. S. Express.......... .............
IOO Í 40
--T[ 36 May
U. S. Rubber preferred............. 100 t 97
98
92% Feb.
Wells, Fargo E xpress............. IOO
........ 1104 Feb.

Highest
8

May

148

Apr.

119% May
96 % May
25 Jude
4% May
95 Jan.
10% May
30 June
70 May
9% Jude
162 June
33% Jan.
102 Jan.
59% May
41% Mar.
33% June
92 May
20 Jan.
50 Jan.
58% May
69 Jude
29% May
12 May
9 June
10% May
320 Jan.
69 Apr.
4% May
20 Apr.
12% May
23% Jan.
45 Jan.
97% June
111% May

NEW YORE STOCK EXCHANGE PRICES.—S T A T E BONDS J U N E 14.

to;
©•

Ask.

h¡

Bid.

o

SECURITIES.

Alabama—Class A, 4 to 5 .......1906 107
Class B, 5s ............................1906 107
Class C, 4s............................. 1906
97
Currency funding 4s............1920
97
Arkansas—6s, fun<LHol.1899-1900
3
do. Non-Holford 150
7s Arkansas Central R R ............
1
L misiana—1
7s, cons............-...¿914
Stamped 4 s.............. . .................
New oonols. 4s..................... 1914
96%

98

SECURITIES

Bid. Ask
SECURITIES.
Bid. Ask.
Missouri—Fund............. 1894-1895
Tennessee—6s, old........ 1892-1898
North Carolina—6s, old .......... J&J
6s, new b on d s.........1892-8-1900
Funding act................ ........ 1900
do
new series...............1914
New bonds, J & J ........ 1892-1898
Compromise, 3-4-5-6s...........1912
Chatham R R .............
1
21« 3s.............................................1918 87
91
Special tax, Class I ..
1
2%
Redemption 4 s..................... 1907 90
Consolidated 4s.......... ........ 1910 102 107
do
4i«s.................. 1913 100
1ÍHQ 125 128
6s.............................
Penitentiary 4i«8................. 1913 100
South Carolina—4%s, 2Ó-4Ó..1933 107 111
Virginia funded debt. 2 -3 s...l9 9 1
615s 62
6s, non-fund................
2
6s, deferred t’st reo’ts, stamped.
11«
6 1«
6I4

New York City Rank Statement for the week ending
June 8, 1895.

W e omit two ciphers (00) in all cases.

BANKS.

(00s omitted.)

Oapital \Stirpi’s Loans.

Specie.

Legáis. Deposits

New York City, Boston and Philadelphia Banks:
Capital <t
Surplus. Loans.
Banks .
Specie. Legats. Deposits.+ Circ’l’n Clearings ',
N. Y ork.*
$
$
$
$
$
$
May 11
133,669,5 488,928,5 69,440,0 98,088,3 537,832.8 133380 661.301.5
“ 1 8 ... 134.574.2 495,303,1 68,796,1 1072364 553.778.4 132670 695.175.8
“ 25 ... 134.574.2 500,098,7 69,584,4 1108666 561.903.4 133214 606.671.9
June 1__ 134.574.2 502,547,2|70,641,0 1121376 566,229,4 132562 494,624,0
“
8 .... 184,925,4 603,437,6 70,783,8 1103833 565,986,8 132335 577.190.6
Boston .*
May 25__ 69.351.8 163.539.0 10,911,0 6,426,0U56,188,0 7.363.0 90.551.4
June 1__ 69.351.8 164.741.0 10,765,0 6,112,0 158,162,0 7.357.0 77.281.4
“
8 .... 69.351.8 168.638.0 10,604,0 5,562,0 162,950,0 7.381.0 97.790.9
Phiia.*
May 25 ... 35.810.3 103.980.0
32.414.0
105.477.0 6.144.0 67.048.4
June 1... 35.810.3 103.552.0
33.254.0
107.661.0 6.170.0 56.607.9
“
8 .... 35.810.3 104.105.01
33.863.0
'108,000,0 6.150.0 71,829,6
* IVe omit two ciphers in all these figures, t Including for Boston and Phiia
delphia the item “ due to other banks.”

$2,038,7 $14,260,0 $1,240J) $1,840,0 $13,520,0
2.050.0 2.054.5 13.040.0 1.149.0 6.458.01 16.613.0
964,9 12.286.0 1,471,4 2.161.2 14.252.2
2, 000,0
2, 000,0 2.188.5 9.457.0
986.0 2.906.0 9.803.0
20,323,9 2.990.0 3.443.5 22.714.2
3.000. 2.296.6
0
430.3
1.000.
0
4.646.0
444.0
697.0 4.348.0
1, 000,0 3.042.0 21.166.4 7.692.8
4.194.2 28,890,9
31,5 1.808.3
750.0
221,8
203.4 1,730,4
300.0 7.273.3 26.099.4 3,000,1 6.340.1 27,636,4
155.0 3,829,5
600.0
780.7
445.8 4,317,9
1, 000,0 1.614.4
6.405.4
460
2.235.6 6.263.8
229.7 1,482,9
300.0
159.1
421.0 1.651.3
400.0
371,0! 2.530.0
310.0
295.0 2.590.0
200.0
177.3 1.015.5
153.0
202.9 1.047.4
600,0
492.8 2.966.3
236.1 1.057.0 2.916.9
300.0
113.3 1.676.8
264.6
287.1 1.919.6
1.200.0
484.0 3.465.5
146.2
472.6 2.699.1
5.000. 2.345.5
0
23.522.0 1.214.0 5.961.0 20.640.0
Miscellaneous and Unlisted Bonds :
5.000. 3.620.2
0
19.973.1
565.0 6.749.8 17,992,8
1.000. 1.631.7
0
6.166.6 1.024.6
869.0 6.017.4
M
iscellaneous Bonds.
M lscellaneoua Bond*.
1, 000,0
979.3 7.347.1 1.667.0
966.8 7.869.0 Boston Un. Gas tr .certs., 5s.
Metropol. Tel. & Tel. 1st 5s
475.0 2.155.4
422,7
590.8
934.1 3.291.7 Brooklyn W. & W. 1st. g., 5s.
■uh, Mlch.-Penin. Car 1st 5s. .... * 95 a.
1.500.0
964.8 12.951.7 1.341.1 3.341.6 15.273.3 Ch. Juu.& S. Yds.—Col.t.g.,5s 107
Mutual Union Teleg.—6s g._ *112 b.
980.0 6.034.3
450.0
908.1 1.043.6 6.515.7 Col. 0. & I. Level, gu. 5s..... 109 %b. N.
Y. & N. J. Telep. gen. 5s.. 103 »ab.
272.3 1.944.9
200.0
482.2 3.107.6 Colorado Fuel—Gen. 6s.........
249.9
Northwestern
Telegraph—7s. 112 b.
576.6 5.488.8
700.0
641.2
749.3 5.500.8 Col. & Hock. Coal & I.—6s, g.
People’s
Gas 4 C .i 1st g. 6s.
1,000,0 1.903.0 16,010,0 3.810.0 1.402.0 19.460.0 Cons.Gas Co..Chic.—lstgu.os 85*4 b.
Chicago.... 52d g. 6s. iÖ4**b.
500.0
346.8 2.846.0
392.0
610.6 3.115.0 Consol. Coal conv. 6s......... *100 b. Co.,
1st cons. g. 6s.................... 99 %b.
600.0
396.9 3.055.4
536.9
306.7 3.522.6 Det. Gas eon. 1st 5s............... 65 b. Pleas.
Valley Coal -1st g. 6s. 97 %b.
500.0
280.3 2.475.2
132.2
488.9 2.888.6 Edison Elec. 111. Co.—1st 5s . 108
b. South Yuba Water Co.oon.6s.
750.0
831.7 4.056.1
407.6 1.164.5 4.617.3
Do
of
Bklyn.,
1st
5s_
_
Sunday
Creek Coal 1st g 6s.. '*95*'b.
23,2 3.060.0
1,000,0
658.0 3.438.0 Eqnit. G.-L., N. Y., cons. g. 5s. ÏÏ2 "b. U. S. Leather—
319.0
S. f. deb., g.,6s 113*4b.
1, 000,0 1.208.7 9.341.8 1.560.8 1.147.0 10.843.0 Equitable
G. & F.—1st 6s.... 97 b. Western Union Teleg.—/ •.. *109 b.
1, 000,0
203.4 4.723.2
571.2
966.6
5.848.3 Henderson Bridge—1st g. 6s. 112 b. Wheel. L. E. &Pitt“ Coal 1st 5s 64 >ab.
300.0
427.1 1.870.0
400.0 1.880.0
210.0
Steel deb. 5s............
Unlisted Bonds.
1.500.0 5.581.3 22,175,0 3.744.0 3.039.0 23.046.0 Illinois
Non-oonv. deb.os....... ........
Comstock Tunnel—Ino. 4s..
8 b.
2 , 000,0 3.148.0 24.137.8 3.295.8
7.129.7 30.280.0 Manhat. Beach H. <fc L. g. 4s. 48 b. Mem. <feCharleston—Con 7 g.
250.0
139.6 1.080.8
East River__
214.9 1.012.3
113,1
Fourth National__ 3.200.0 2.067.6 19.798.7
332.0 5.939.0 21.331.6
Noth.—“ 2>” indicates prioe bid; “ a ” prloe asked. * Latest price this week
542.1 8.526.0 1.449.0 4.135.0 12.394.0
Central National... 2 , 000,0
300.0
593.9 5.115.0
Second National...
950.0 1.184.0 6.532.0
750.0
379.0 3.316.3
Ninth National....
512.3 1.013.9 4.120.0
500.0 7, 200,2 24.273.7 7.119.2 3.029.8 27.201.1
First National......
BANK’S.
Ask.
BANKS. Bid. Ask. BA NKS. Blu. ajs*
221.1 10.328.7 2.054.3
Third National...... 1, 000,0
1.265.3 12.369.6
300.0
90,0
1.392.5
300
Ninth......... 120
N.Y. Nat. Exchange
215.2 1.382.9 America...... 205
166.4
250.0
561.4 2.690.0
Bcwery..................
118 125 19th Ward..
454.0
401.0 3.110.0 Am. Exoh... 158 160
200.0
609.2 3.041.3
New York County.
775.6
197.5 3.641.5 Bowery*......
750.0
283.8 2.761.7
German American..
501.1 2.810.1 Broadway... 240*" 260
363.3
500.0 1.174.1 16.582.8 1.269.6 4.447.9 19.608.1 Butchs’&Dr. 150 160
155
Chase National........
100.0 1.057.8 6.789.1
310 325 Park...........
Fifth Avenue.........
777.5 1.399.6 7.674.9 Central...... 117 125
200,0
604.8 2.740.4
155
732.4
340.2 3.456.4 Chase.......... 500
German Exchange..
622.4 3.063.7
200,0
506.5
Germania.............
226.6 3.658.0 Chatham...... 350 400 Im. & Trad’s’ 510 565 Phenix....... 110 120 '
600,0
548.3 5.964.9 1.017.3
alted States.......
637.3 6.973.0 Chemical ... 4100 4800 Irving......... 135 150 Prod. Ex*..
300.0
521,1 5.411.2 1,027,2 1.741.6 7.174.2 City............. 440
160 200
nooln....................
154 160
200.0
615
168 169
583.7 4.154.0
Garfield............. .....
878.1
808.4 5.448.6 Citizens’ ...... 140 155
Second. .... 300
316.4 1.836.9
200,0
Manhattan.. 191%
215.2
327.7 1.897.6 Colombia....
Fifth National........
803.0 4.716.5
300.0
840.6 1.175.1 6.208.3 Commerce... 184*' 187 Market & Fal 218 230 Seventh....
Bank of the Metrop.
306.8 2.509.0
200.0
Mechanics’ .. 187 190 Shoe& Le’th 92 102
263.0
West Side..............
503.0 2.793.0 Continental. 125
500.0
231.7 5.246.0
535.0 1,682,0 6.819.0 Corn Exoh.. 285 300 M’chs’ & Tra’ 140 165 Southern... 140
Seaboard.................
347.5 1.715.0
200.0
240.0
Sixth National........
39 >,0 1.670.0 Ea*t River.. 130 145 Mercantile.. 160 200 Stateof N.Y. 103% i*08
131 140
234.0 10.514.9
907.0 2.544.7 11.610.7 11th Ward... 200
Western National.. 2. 100.0
105
300.0
881.1 4.829.0 1.107.0
Meroh’ts Ex. 110 120
685.0 5.411.0 Fifth Ave.... 2500
First Nat. Br’klyn..
95
500.0
554.8 2.798.0
53,6 1.159.0 3.296.0 Fifth*..........
Metropolis.. 400 465 23d Ward*..
Soutaern National..
110
344.5
1,200,0
12,179,7
473.1 2.930.1 13.831.1 First............ 2500
Nat. Onion Bank....
Mt. Morris..
150 165
129,4 1.557.9
600.0
22,0
400.4 1,462,2 First N., 8.1. 118 125
Liberty Nat. Bank.
180
NewYork .. 228 237 Western .. 110 115
300.8 3.680.8
448,4
N.Y. Prod. Exch’ge. 1,000,0
212,6
2.974.4 14th Street..
Fourth .....
185 N.Y. Co’nty. 540 580 West Side.. 270
Tetat.. . . . . . . . . . . . 62,622,7)72 302.7 508,437,6 70,783,8 110,383,3 565,996,8 Gallatin....... *300 ....... N.Y.Nat.Ex. ........ ...... «
Bank of New York..
Manhattan Co.........
Merchants’ .............
Mechanics’..............
America..................
Phenix................
City........................
Tradesmen’s..........
Chemical............
Merchants’ Exch’ge
Gallatin National...
Bntchers’&Drovers’
Mechanics’ <x Trad’s
Greenwich..............
heather Mannfac’rs
Seventh National...
State of NewYork..
American Exchange
Commerce..............
Broadway...........
Mercantile.............
Pacific....................
Republic................
Chatham................
People’s ................
North America......
Hanover................
Irving....................
Citizen’s ...............
Nassau.................
Market & Fulton...
Shoe & Leather......
Corn Exchange..
Continental........
Oriental..............
|mport6ra’<&Traders

S




$ 2, 000,0

1051

THE CHRONICLE.

J un e 15, 1895.]

BOSTON, PHILADELPHIA AND BALTIMORE STOCK EXCHANGES.
Active Stocks.
1T Indicates unlisted.

S h are P r ic e s — n o t P e r C e n tu m P r ic e s .

Saturday,
June 8.

Monday,
June 10.

Tuesday,
June 11.

Wednesday,
Juue 12.

Atch. T. & 8. Fe (Boston) .100
Atlantic & Pac.
••
100
Baltimore & Ohio (Balt.).loO
Balt. City Pass’ger “
25
Baltimore Traction “
25
Baltimore Trae’ ull (PAW.). 25
Boston & Albany (Boston). 100
100
Boston & Lowell
100
Boston & Maiue
100
Central of Hass.
100
Preferred
100
Chic. Bur. & Quin. **
Ohio. Mil. & 81 P. (PAa.).ioo
50
Cho.O.&G.vot.t.c. “
100
Cit. St. Ry of I udii “
Electrio Tract i’n
“
150
Fitchburg pref .(Boston). 100
Lehigh Valley.. (Phila.). 50
Maine Central (Boston). 100
Metropol’n Trac. V ( Pnil). 100
Mexican Oent’l (Boston). 100
N.Y.&N.E.,tr.rec.$ “
100
Prefen ed,tr.reo.$ “
100
Northern Central (Bali.). 50
Northern Pacitio <PA ita.)\ 00
Preferred
“
100
Old Colony.....(B oston) 100
Pennsylvania...(P h ila .). 50
People’ sTraction
“
50
Phila. & Heading.
“
50
Phlladelph Trac.
“
50
Union Paciflo. ..( Boston). 100

578 ” 6%
6?16 678 ★ U0*8 10% 110*4 10% tio % 10%
....
1%
*1*4
1%
1*8 1*8 ♦__*1
63%
62% 61% *63 ......
73% 73%
72% 72% 72% 72% 72% 74
7278 73
20% 20% 20% 2 % 20%
20
20
19% 1978 20
20
20%
20% 20% 20% 20%
19!% 19% 1978 20
x207%207*o *207
208 *q 209
210 210 *207
20 l
201 *200
200
201 201 *
168% 168% 168% 169% 170 171
169 169
169 169
*13% 14% 13% 13%
*13% 14% *13%
*13%
60
60
60 *
60
60
85%
85
85% 8$
81% 81% 81% 82% 82% 85
68% 68% 68%
66% 667s 6678 67*4 67*4 68*4 68
IS
11% 11 %
13
12% 13
44% 44% 44% 44*4 45
42% 42% 43% 44
42
74
74
74% 74
74
74% *74
74
*74
75
92% 93
93%
93
93% 93
*92
*92
37%
38
37%
37%
37
*
*
37*4
37*4
37*4
37% 3778 *
134%
134 ♦
95
95% 95 ■« 95% 95% 95
95% 96
96
96
12
11
11*4 11% 11% 11% 12*4 12
*11*4 11%
43%
44%
44%
43%
44%
44%
43%
43% 43%
87
*84% 86
87
*85
87
*84%
70
70
70
70
"69%
*69%
4%
5%
5%
5%
53g 5%
5*4 5%
5
5*4
18
18%
19
*20
20% 20
20
*18% 187s 19
177% 177% 177% 177% 177% 178
177 177
177
53
53% 52% 53
5278 527g 52% 527e 52% 53
62
62% 61% 62% 61% 61% 60% 61% 60% 61
8BI8
8
8 ■« 8%
8%6 9*4
8*8 8*4 7 ‘ 51* 8%
83% 83% 83% 83% 83*4 83*4 83*4 83*4 82*4 83
13% 13% *13% 14
*13 . 13*4
14
14
12% 13

Am.Sug’r Refln.lif Boston)....]
Preferred . ..........
“
Bell Telephone..
“
100
Boat. & Montana.
“
25
Butte & Boston,.
“
25
Calumet & Hecla
“
25
Canton C o .......... (Balt.). 100
Consolidated Gas
“
100
Elec.Sror. Bat’yH(PAWa.).lOO
Preferred H
“
100
Erie Telephone. (".Boston.,). 100
General Electrio.
“
lOo
Preferred........
“
100
Lamson8tore8er.
“
50
Lehi’h Coal&Nav. (Phila.) 50
N. E.Telephone ( Boston). 10O
Unit’d Gas Imp.HfPAWa..). 50
Welsbacb Light 1i “
5
West End Land..(Boston) ..
' All instalments paid.

117%
100%
2ul%
51%
15%
292

m is c e lla n e o u s s t o c k s .

118*4 117% 118
100% 101 101
201 202%
202
53%
52% 53
15% 15% 15%
295 295
298
70
6178 6 l 7e * *81% 62
26%
dr
26%
57 “
57% 57% 57
36% 36% 36% 36%
65
65
«5
65
*24% 24 % 24% 24%
46% 46% *46% 47
74
73*« 73% 74
73% 7378
73
73
47
47
47
47
2%
2%
*2%
2%
* nid an asked prices;

Inactive Stocks.
Prices of June 14
Atlanta & Charlotte (Ball.) .100
Boston & Providence (Boston).100
Camoen & Atlantic pi. (Phila.). 50
“
50
Catawissa..........
1st preferred. . . . . . .
“
50
Central Ohio................ (Balt.). 50
Chicago & West Mich.(Boston). 100
C o n n e c t ic u tP a s s ..
"
100
Connecticut River
“
100
Consol Tract of N.J.i](rAi(a.).l 00
Delaware&Bound Br.“
100
Flint & Pere M a rq ...(Boston). 100
Preferred
.......
“
100
Hestonville Paeseng. (Phila.). 50
Preferred II.................
“
50
Hunt. & Broad Top...
“
50
Preferred....................
“
50
Kan. C’y Ft.8. & Mem.(Boston). 100
Preferred....................
“ 100
Little Hchuvlkill........ (Phila.). 50
Mine Hill & 8. Haven
“
50
Nesquehoning V a l.. .
“
50
North American Co..
"
100
North Pennsylvania.
“
50
Oregon Short Lii 1e .. . ( Boston). 100
Pennsylvania&N. W. (Phila.). 50
Philadel. A Erie........
“
50
Rutland..................... (Boston), lo o
Preferred.. . . . . . . . . .
“
100
Southern...............
(Balt.) .100
Preferred....................
“ 100
West End....................(Boston). 50
Preferred..................
“
60
United Cos. of N. J .. (Phila.).100
“
50
West J erse y .............
West Jersey & Atlan.
“
50
Western N.Y. & Penn
"
100
Wisconsin Central...(Boston). 100
Preferred...................
“
100
Worc’st.N ash. &Roch.
“
100
MISCELLANEOTTS.
Allouez Min’g, asst pdf Boston). 25
25
Atlantic Mining........
50
Bay State Gas H.........
1
10
Boston Land.................
*
10
Centennial M luing...
‘
25
Fort Wayne Eleot.1I.1
25
Franklin Mining____
1
5
Frenchm’n’sBay L’ d.
‘
100
Illinois Steel... . . . . . . .
1
25
Kearsarge Mining....
*
25
1
Osceola Mining..........
100
Pullman Palace Car.
‘
Pennsylvania Steel.. (Phila.).100
Pre fex red U.......... .
“
100
Quincy M ining.. . . . .. (Boston). 25
25
Tamarack M ining....
“
Water Power.................
1 100
50
Westingh. Elec. & M..
50
Prei., cumulative.
1
B o n d s —B o s to n ,
At.Top.Ss.F.10O-yr.l g.,1989, J&J
2d2*9-4s, g., Class A ..1989, A&O
Boston United ftas 1 st 5s---- -------

Bid.

Ask.

90
92<%
255 260
33
2*9
48*9
52
49
22
21
143 144
250 250%
29
14
44
fcO
68
33
54
15
50
64
67
84

85
7

___

26%
3
71
14
41
72%
89%
234

14%
45
60%
71
34
55
18
60
........
7%
40
27
4
72
14*4
41%
72%
90

51*3

27
9
5 % 5%
25
Ì2Ó 130
8%

•75
17
11
5
1
1%
16%
1
69
14
27%
173

1-00
17*4
11*4
5*4
1*4
2
17%
2
70
14%
29
173%

65
119
135
1
35%
52%

120
139
I 1«
36
52%

118 11«%
101%102
201 2 >1%
54
53
15% 16
295 295
70
*68
61% 61%

118%
102
201
53%
16
292
*68
61%

119%
102%
201
54*4
16
292

57%
36
*65
*24% 25
*24%
47
47
46%
74
74
74
73% 74%
74*4
47
49
48*«
"2%
2%
*2%
no sale wa made.

58
36%
67
25
40%
74*«
74%
49
2%

57% 58
36% 37




Bange of sales in 1895.
Highest.

Lowest.

35s Jan. 30 tlO% June 12
t io
10% 25,927
*1
110 ‘ 50 Jan. 23
2 May 13
1%
17 4 9 78 Mar. 8 65 Jan. 21
*62% 64
1,375 69 Mar. 11 74 June 12
73*4 73%
8,236 14% Jan. 28 21 June 14
20% 21
20% 21
13,253 14% Jan. 30 21 June 14
24 206 Mar. 13 210*9 Apr. 22
*209 210
32 196% Jan. 2 204 May 13
200% 200%
624 160 Jan. 2 175*4 June 14
172 1 5*4
5 Apr. 13 16 May 13
10
14%
*14
48 Feb. 28 60*9 May 14
*57
60
84% 85% 24,862 69 % Mar. 4 85% June 12
68% 68% 29,800 54 Mar. 9 6878 June 12
1,342 H i« May 11 14% June 3
3,070 34% Feb. 2 45*9 June 14
44% 45%
1,106 70 Apr. 22 87 Jan. 3
74%
74
100 82% Jan. 11 93*9 June 12
93
93
3,813 27 Mar. 8 39 May 11
37% 38%
8 125 *9 Jan. 7 135 June 3
13t 134
558 81 Apr. 2 106% Jan. 3
95
95
5% Jan. 31 13*« May 7
3,565
11% 11%
3,581 29 Jan. 29 45*8 May 27
43% 45%
lo2 5 9 ^ Feb. 8 87 June 13
87
87
270 64 Jan. 29 70*4 June 7
69% 69%
2 >9 J an. 30
7% May 13
5*4 8,51)
. 4%
615 13 Feb. 27 25% May 14
18%
*18*4
84 176*4 June 1 180% Jan. 19
*177% 178
2,115 48% Jan 80 53*9 May 10
52% 53
7,52 i 43 "4 Jan. 26 63 June 3
61*4 61%
30,1
If 3 ,8ie Mar. 4 101% May 18
9
9*4
1,339 76 Apr. 2 99*4 Jan. 2
82%
82
8 Mar. 12 17*8 May 10
223
*12% 12%
120*4 June 13
1025s June 12
210 May 20
54*9 M»y 27
17 May 28
305 May 27
91*9 Jan. 16
65*4 Jan. 2
34*4 Feb, 13
32*8 Mar. 18
59 May 13
37% Mar. 25
70 Mar. 23
25% Apr. 16
49*9 Jan. 5
74*« June 12
79*8 June 14
51 June 13
331« May 9
pa d .

117% 118% 24,292 86t% Jan.
2,641 90 Jan.
100% 100%
494 175*a Apr.
2>3*s 203'«
7,176 33*9 Jan.
53% 53%
9 Mar.
2,905
*15% 15%
32 280 Mar.
295 295
215 67*9 May
*69% 70%
1,843 60 May
62% 63*4
358 20 June
25% 27%
*
28 Apr.
28%
641 45*9 Feb.
58
88*4 58% 58%
257s Mar.
4,508
36
36% 34%
36
320 60 Feb.
66
*64
65
65
50
22*9 Feb.
*24% 25
*24% 25
257 40*9 Mar.
47*4
46% 46% 47
66 Feb.
92
74% 74% 74*4 74%
75% 76% 76% 79% 18,516 67 Apr.
9,296 36 Mar.
48% 50%
50
51
2 Jan.
2%
605
2%
2»)
2%
II Lowest is ex dividend 1 1st in stalmeut,

11116% 120*4
||10O% lo2%
203% 204
53% 54%
15% 15*
*290 298
70 U
70
61% 61% 62%
26
26

Inactive stocks.

Bid,

Ask.

Boston United Ga«, 2dm. 5s..1939
Burl.dr Mo. River Exe npt 6s, J&J
Non-exempt 6 s.......1 9 1 8 , J&J
Plain 4s........................1910, J&J
Chic. Burl. & Nor. 1st 5,1926, A&O
2d mort. 6 s ..... . . . . . . 1918, J&D
Debenture 6s.........1 8 9 6 , J&D
Chic. Burl.& Quincy 4s.. 1922, F&A
Iowa Division 4 s .....1 9 1 9 , A&O
Chio.&W.Mioh. gen. 5s, 1921, J&D
Consol, of Vermont, 58.1913, J&J
Current River, 1st, os.,1927, A&O
Det. Lans. & Nor’n M. 7s. 1907, J&J
1Eastern 1st mort 6 g.l906,M &S..
P ree.Elk. &M.V.,lst, 6s. 1933, end.
K.C. C.& Spring.,1st,5g.,1925,A&O
K 0. F.8. &M. con.6s, 1928, M&N
K.C. Mem. & Bir.,1st, 2s,1927. M&8
K.
C. St. Jo. &C. B., 78..1907, J&J
L. Rock & Ft. S.. 1st, 78.. 1905, J&J
Louis., Ev.&St.L., 1st, 6g. 1926, A&O
2m., 5—6 g ...........1 9 3 6 , A&O
Mar. H. & Ont., 6s.......1925, A&O
Mexican Central, 4 g . .. 1911, J&J
i 1st oonBol.inoomes, 8 g, non-oum.
2d consol. incomes. 3s, non-oum.
N. Y. & N.Eng,, 1st, 7s,1905, J&J*
1st mort. 6 s ............1 9 0 5 , J&J
2d mort. 6 s ......... ....1 9 0 2 , F&A
Ogden. &L.C.,Con.6s...1920,A&O
Inc. 6s................................... 19 2 0. ___ ,
Ru tland, 1st,6s............1902,M&N $110*4
2d, 5s.......................... 1898,F&A $100
J&J
Atlantic City 1st 5s, g., 1919,M&N
Belvidere Del., 1 st,6 «.. 1902, J&D
Buffalo Ry. con. 1st, 5s.......... 1931
Catawissa, M., 7 s......1 9 0 0 , F&A
Choc. Okla. & Gulf, p ior lien 6s..
Citizens' St.Ry.of lud.,con.5s. 1933
Columb. St. R v „ 1st, con. 5s..1932
Coluuib. O. Crosstown, 1st,5s. 1933
Consol. Tract, of N. J., 1st,5s. 1933
Del. & B’d Br’k, 1st, 7s.1905,F&A
Easton & Am. lstM .,5s.1920, M&N
Elmir. &Wilm., 1st, 6 s.1910, J&J.
Hestonville M. & F., con. 5s.. 1924
Hunt. &Br’d Top,Con,5s.’95,A&O
Lehigh Nav. 4%s...........1914, Q—J
2d 6s, g o ld ................1897, J&D
General mort. 4%s, g.l924,Q —F
Lehigh Val.Coal 1st 5s,g. 1933, J&J
Lehigh Valley, 1st 6s... 1898, J&D
2d 7s............................ 1910, M&S
Consol. 6 . . . ...........1 9 2 3 , J&D
Newark Passenger, con. 5s... 1930
North Penn. 1st, 7 s ....1896, M&N
Gen. M. 7s................... 1003, J&J
Pennsylvania gen .6s,r..l9 1 0 , Var
Consol. 6s, 0
........... 1905, Var
Consol. 5s, r . . . . . . ......1 9 1 9 , Vat
Oollat. Tr. 4*« g .......... 1913, J&D
Pa. & N. Y. Canal, 7s...1906, J&D
Con. 5s.........................1939. A&r>

* 75% 75%
* 27% 27%
81
$ 80
ft Unlisted.
* Piice includes overdue coupons.

Friday,
June 14

Thursday,
June 13.

Sales
of the
Week,
Shares.

106
101%

84

106

Bonds.
People’ s Trao. trust certs. 4s..1943
Perxiomen, 1st ser., 58.1918, <4—J
Phila.&Erie gen. M. 5g.,1920, A&O
Gen. mort., 4 g .......... 1920, A&O
Phila & Read, new 4 g., 1958, J&J
1st pref. income, 5 g, 1958, Feb 1
2d pref. income, 5 g, 1958, Feb. 1
3d pref. inoome, 5 g, 1958,Feb. 1
2d, 5s........................... 1933, A&O
Consol, mort. 7s........ 1911, J&D
Consol, mort. 6 g . . . . ..1911, J&D
Improvement M. 6 g., 1897, A&O
Con. M.,5 «..stamped,1922,M&N
Terminal 5s, g . . . . . . l 9 4 l , Q.—F.
Phil. Wilm. & Balt., 4s. 1917, A&O
Pitts. C. & St. L., 7s___1900, F&A
Rochester Railway, con. 5s ..1930
Schuyl.R.E.8ide,lst 5 g.1935, J&D
Union Terminal 1st 5 s .......F & A
B on d s,—B a ltim ore.
Atlanta & Chari., 1st 7s, 1907, J&J
Baltimore Belt, 1st, 5s. 1990, M&N
Balt. C. Pass. 1st 5 s ... 1911, M&N
Balt. Traction, 1st 58..1H29, M&N
Exten. & impt. 6 s .... 19 >1, M&S
No. Balt. Div.. 5s.......1942, J&D
Baltimore & Ohio 4 g., 1935, A&O
Pitts. & Conn., 5 g ... .1925, F&A
Staten Island, 2d, 5 g .l9 2 o, J&J
Bal.&Ohio S. W.,lst,4**g.l990, J &J
0apeF.&Yad.,8er.A.,6g.l9L6, J&D
Stories B., 6 g ..........1 9 1 6 , J&D
Series C., 6 g ............... 1916, J&D
Cent. Ohio, 4*« g . . . . . . ..1930, M&t
Cent. Pass., 1st 5s.......1932, M&N
City & Sub., 1st 6 s ...• ..1922, J&D
Oharl.Col.&Aug.ext.5s.l910, J&J
Col. & Greenv., 1st 5-6S.1917, J&J
Ga.Car. & Nor. 1st 5 g ..l9 2 9 , J&.
Georgia Pac., 1st 5-6S...1922, J<feJ
North. Cent. 6s..............1900, J&.
6s...................................1904, J&J
Series A, 5 s .. . . . ......1 9 2 6 , J&J
4*33..............................1925, A&C
Piedm.& Cum., 1st, 5 g.1911, F&A
Pitts. & Connells. Ist7 s.l8 9 8 , J&J
Southern, 1st 5 s .........1 9 9 4 , J&J
Virginia Mid., 1st 6 s ...1906, M&t
2d Series, 6 s ...........1 9 1 1 M&t
3d Series, 6s............... 1916, M&t
4th 8eries, 3-4-5s.......1921, M&t
5th Series, 5s..............1926, M&t
W estVa C.&Y. 1st. 6 g. 1911, J&J
West’LN.C. Consol. 6 g 1914, J&J
Wilm. Col. & Aug., 6s.. 1910, J&I
MISCELLANEOUS.

104
108
103

§ And accrued interest.

_

102*4 Baltimore Water 5 s...1916, M&N
Funding 5 s . . . . . . .......
Exchange 3%s........ ..1930, J&J
Virginia (State) 3s, new .1932, J&J
Funded debt, 2-3S.....1991, J&J
OheBapeaKeGas,0s.....l9OO, J&D
Consol. Gas, 6 s ..........1 9 1 0 , J&D
5 s .................. ............... 1939, J&J
109
103% Eon it able <4as. 6s — ..1913. A&
t Last price this week.

117

102%

69
32

20

119
70
32*4

20%

14% 15
117 119
125
114*«
103%
96 ** 97
104
lU2
115*2
104
107*«

123 124
103*« 104
114 I ..t ..
109*4 109*«
104 104*4
108% 109%
103
111
83
60
60
103
110%
110

83%
62
62
111

111% 112%
90
90%
113*« 114
113
116
100 102
109% 110
9d% 98%
112
115
ill
******
103'
108% 109
114
114
121%
103% lc 3 7a
74% 75
61% 62
109 1___
117 117*4
lo 7 108
........ 1

1052

THE CHRONICLE.

I"V o l . LX,

NEW YORK STOCK EXCHANGE PRICES (Continued)—ACTIVE BONDS J U N E 14 A N D F O B Y E A R 1895.
Closing Range (tales) in 1895
R att.r o An and M iscel. B onds. Inter9 Price
Period June 14.
Lowest.
Highest.

R ailroad

and

Closing Range (sales) in 1895.
Miscel. B onds. Inter91 Price
J
Period u n eli.
Lowest.
Highest.

Pao. of Mo.—2d ext. 5S..1938 J & J 108 a. 103 Mar. 106% Jan.
St.L. «fclr. M t.lst ext., 5s. 1897 F & A *l02%b. 100 Mar. 103% Jan.
2 d ,7 g ...........................1897 M & N 103 b. 102 May 104 Jan.
Cairo Ark. & Texas,7 g.1897 J «fe D 101 b. 97 Mar. 103% May
Gen.R’y & land gr.,5g.l931 A «fe O 79
74% Apr. 80 u May
Mobile <fc Ohio—New,6 g ..l9 2 7 J «fe D 117 b. 115 Mar. 120% May
General mortgage, 4 s .. . .1938 M «fe S 69
62 Mar. 69% June
Nash. Ch. & St. L.—1st, 7s. 1913 J «fe J *132 b. 130 Mar. 132 Feb.
Consol., 5 g .....................1928 A «fe O 100%
98% Apr. 102 Mar.
Nat’l Starch Mfg.—1st, 6s.1920 M «fe N 97 b. 90 Jan.
98 June
N. Y. Central—Debt ext.4s .1905 M «fe N 102 %b. 102 Mar. 104% Apr.
1st, coupon,7s................. 1903 J «fe J 125 b. 120% Jan. 125% June
Deben., 5s, coup., 1884.. 1904 M <& S 108 b. 105% Apr. 109% Jan.
N. Y. & Harlem, 7s, reg.1900 M «fe N 117 %b, 115% May 119% Apr.
R. W. <fc Ogd.,consol., 53.1922 A & O 117%a. 113% Apr. 119 Jan.
West Shore, guar., 4s___2361 J «fe J 107% 103% Feb. 107% June
N. Y. Chic. & St. L.—4 g. ..1937 A «fe O 105
101% Feb. 105% June
N. Y. Elevated—7s............1906 J & J 110%a. 107% Jan. 110% June
N. Y. Laok. <fe W.—1st, 6s. 1921 J «fe J 133 b. 131 Mar. 135 May
Construction, 5s.............. 1923 F «fe A 116 b. 113% Feb. 117 June
N.Y.L.E.&W.—lst,oon.,7g.l920 M «fe S
125% Mar. 134 May
2d consol., 6 g ................. 1969 J «fe D 166%b. i 55% Feb. t71 May
Long Dock, consol., 6s,g. 1935 A «fe O *129%b. 126 Feb. 131 Jan.
N. Y. N. H. <feH.—Con. deb. otfs A «fe O 146
137 Jan. 147% June
N. Y. Ont. <feW.—Ref .4s,g. 1992 M «fe S 92%
83 Jan.
93% June
Consol., 1st, 5s, g ............1939 J «fe D *110 b. 109% June 113 May
N. Y. Bus. <SfcW.—lstref.,5s g. 1937
«fe J 100
95 June 108 Jan.
Midland of N. J., 6s, g . 1910
«fe O 115 b. 115 Apr. 119 Jan.
Norf.& W.—100-year, 5s,g.l990
«fe J
48% Feb. 70 Apr.
No. Pacific—1st, coup., 6 g.1921
«fe J 118% 112 Feb. 119 June
General, 2d, coup., 6 g. 1933
«fe o 102%
81% Mar. 103 % May
General, 3d, coup., 6 g..l9 3 7
«fe D 72
49 % Mar. 72% May
Consol, mortgage. 5 g ...l9 8 9
«fe D 44%
24 Jan.
44% June
Col. trust gold notes, 6s. 1898 M«fc N 88%
70 Mar. 89 June
Chio. & N. Pao., 1st, 5 g.1940 A «fe O t 47% t37 Jan. t49 May
Seat.L. S. & E., 1st, gu.6.1931 F <& A 1 46
t38 Jan. 150 Apr.
No. Pacific & Mont.—6 g..l9 3 6 M «fe S 41 a. 30 Mar. 41 Mav
No. Pacific Ter. Co.—6 g ... 1938 J «fe J 103 b. 96 Jan. 103 June
Ohio & Miss.—Con. s. f., 7S.1898 J «fe J 109 b. 107 Mar. 109 June
Consol., 7s........................1898 J «fe J 109 b. 107 Jan. 108% June
Ohio Southern—1 s t,6 g ... 1921 J «fe D 85%
81 May 96 Jam
General mortgage, 4 g.,.1921 M«fe N 31 b. 29% May 52% A nr.
Omaha & St. Louis—4 g .. .1937 J «fe J 43
135 J an. 144 May
Oregonlmpr. Co.—1st, 6 g.1910
«fe D * 94 b. 96 June 100% Mar.
Consol., 5 g .......................1939
<& O 44%
44 May 55 Mar.
Ore. R.«fc Nav.Co.—1st, 6 g.1909
«fe J * lll% b . 106% Jan. 112% June
Consol., 5 g ...................... 1925
«fe D t 93
t73 Jan. 195 May
Penn. Co.—4% g., coupon.1921
«fe J *115%b. 109% Jan. 115 May
Peo. Deo. & Evansv. —6 g.1920
«fe J 103
92 Feb. 103 May
Evansv. Division, 6 g . .. 1920 M «fe S 101
93 Mar. 101 J une
2d mortgage, 5 g..............1926 M «fe N 33 b. 25 Feb. 35% May
Phila. & Read.—Gen., 4 g.1958 J «fe J t 69%
67 Jan. 79 M ty
lstp ref. income, 5 g .,...1 95 a
32%
18% Mar. 37% May
2d pref. income, 5 g .......195»
20 %
9% Mar. 24% May
3d pref. income, 5 g .......1958
15 b.
6% Mar. 18% May
Pittsburg <fc Western—4 g. 1917 J «fe J 84
80 Apr. 84% Jam
RioGr. Western—1st, 4 g.l93u J «fe J 77%
63 Jan.
78 June
St. Jo. & Gr. Island—6 g .. 1925 M «fe N *t 57 b. 151 Feb. 162 % May
St. L. & San Fr.—6 g., C1.B.1900 M«fe N 114%b. 111% Apr. 115% May
6 g., Class C......................1906 M <fc N 115
111 M!ar. 116 Jam
General mortgage, 6 g .. 1931 J «fe J 111 b. 102 Jan. 112 June
Cons. guar. 4s, g ............ 1990 A <& O * 53 b. 49 Mar. 5 4 Jam
St. L. So. West.—1st, 4s, g.1989 M «fe N 79
62 Jan.
79 June
2d, 4s, g., incom e........... 1989 J «fe J 36%
37% May
16% Jan.
St.P.M.&M.—Dak.Ex., 6 g. 1910 M<& N 117%b. 115 May 119% Jam
lstoonsoL, 6 g ................193b J <& J 122%b. 115% Mar. 123 June
“
reduoed to 4 % g. J «fe J 104 %b. 100% Jau. 104 May
Montana Extension, 4 g.1937 J <& D 89 b. 84% Apr. 90 May
San Ant.& A.P.—lst,4g.,gu.,’43 J <& J 66%
52 Jan.
66% June
Sav. Fla. <&West.—Ist,6g.l934 A «fe O
112 Jan. 117 Jan.
So. Car. <&Ga.—1st,5 g ...,1 9 1 9 M «fe N 97%
95 May 98 Jam
So. Paoiflo,Ariz.—6 g . . 1909-16 J <& J 100
86 Mar. 100 June
So. Paoifio,OaL—6 g . . . .1905-12 A «fe O 110%b. 109% Jan. 111 Feb.
1st oonsoL, gold, 0 g .......1937 A «fe O 93
IOO34 June
88 Feb. 93 May
120 Apr. So. Paoiflo, N. M.—6 g ....... 1911 J «fe J *103 b. 99% Jan. 106 «s June
84% Jam
79% June Southern—1st oons. g., 5s. 1994 J «fe J 98%
98% June
E. Tenn. reorg. lien 4-5s. 1938 M «fe S 92
91 May
92 June
79% Feb.
E. T. V. & G.—1st, 7 g .. .1900 J «fe J 115 b. 111% Feb. 114 June
85 May
Con. 5 g .......................... 1956 M A N 109
102% Feb. 109 J une
97% June
Georgia Pao. 1st 5-6s, g.1922
«fe J 114
117 May
107% Mar. 114 June
Knoxv. & Ohio 1st 6s, g.1925
<& J 115% 111% Mar. 115% June
118 Jan.
Rich. & Danv. oon. 6s, g.1915
«fe J *121 %b. 118 Jan. 122 June
124% May
West.No.Car.lstoon.6s,gl914
«fe J 116 b. 109 Feb. 116 June
119% May
<fe O 89 b. 77 Jan.
99 May TenmC. I. <&Ky. Ten.D.,lst,6 g
90 June
Birmingham Div., 6 g . .. 1917
«fe J 94
110% Mar.
78 Mar. 94 J une
«fe D 92
121 June Texas <&Paoifio- 1st, 5 g..200o
83% Jan.
94 May
2d, inoome, 5 g ................ 200o Alaron
30%
104 Jan.
21% Jau.
31% May
119% May Tol. Ann Ar. <fc N. M.—6 g .192-1 M «fe N t 82 a. 176 Mar. 182 Jam
83 June Toledo & Ohio Cent.—5 g.1935 J «fe J I l l b. 107% Feb. 112 June
85 Jan Tol. St. L. <fc Kan. O.—6 g „1 9 1 6 J «fe D t 71
57 Feb. 171 May
90 May Union Pacific—6 g ...........1898 J «fe J 106% 102% Mar. 107 J une
Ext.
sinking
fund,
8
.......
1899
M
«fe
S
89 Mar. 98 Jam
113% May
95
Collateral trust, 4% ........191» M «fe N t 46%a. t39 Apr. 146 May
10138 May
Gold
6s,
col.
trust
notes.
1894
F
«fe
A
69 June
94 b. 83 Feb. 96% May
Kan. Pao.-Den. Div., 6 g.1899 M «fe N 108 %b. 103 % Mar. 109 J une
100% June
1st oonsoi., 6 g ...« ........1919 M <& N 71%b. 62 Feb. ' 78 Jam
122% June
Oregon snort Line—o g.,1922 F <& A t 99%
88 Jan. 102% May
109 Feb.
Or.S.L.&Ut’hN.—Oon.5g.1919 A «fe O I 47%
39 Feb.
121% Jan
53 May
U.P.Dem&Gulf.oom, 5 g. 1939 J «fe D 41%
109% Apr.
32 Feb. 43 May
131% June U. S. Cora.—1st 00L, 6 g ..l9 2 4 J «fe J * 37 %b. 35% June 64 Jam
115 Ja n Virginia Mid.—Gen.M., 5s. 1936 M«fe N 99 a. 91% Feb.
99 June
94% June Wabash—1st, 5 g ...............1939 M «fe N 106% 104% May 107 Apr.
2d mortgage, 5 g.............1939 F <& A 77%
8834 May
63% Feb.
77% June
60% May West. N. Y. <SPa.—1st, 5 g.1937 J «fe J 110
102% Jan. 110 June
2d mortgage trust reots.1927 A «fe O 30% 123% Jan. 131 Apr.
95 Jan.
110 May West. Un. Tel.—Col. tr. 5s. 1938 J «te J 110 b. 106 Jan. 111 June
106 June Wiso. Cent. Co.—1st, 5 g.,1937 J «fe J 56%
44 Mar. 57% May
Note .—“ b ” indicates price bid ; “ a ” price asked ; the range is made up from actual sales only. * Latest price this week, t Trust receipts.

Ainer. Cotton Oil, deb., 8g. 1900 Q -F 112 b. 110% Feb.
AVTop.&S.F—100-yr.,4g.l989 J «fe J 75%
62 Mar.
25%
2d 3-4s, g., Cl. “ A” ..........1989 A «fe 0
16i8 Mar.
Col.Midland—Cons., 4 g.1940 F «fe A 26%
17 Mar.
50 b. 44 is Jan.
Atl. & Pao —Guar.,4 g . . . . 1937
4%b.
W. D. income, 6s..............1910 J «fe J
2% Mar.
Brooklyn Elev.—1st, 6 g ..l9 2 4 A «fe C 105%
86 Mar.
Union Elevated.—6 g .. . .1937 M«& N 104
84*3 Mar.
Canada Southern.—1st 5s 1908 J «fe J 111 b. 109 Jan.
2d, 5s................................. 1913 M «fe g 105 %b. 102% Mar.
t 53%
Oent.Ga.~S.&W.lstcon.5s.l929
50 Jan.
Central of N. J.—Cons.,7s.l899 Q -J *113 b. l i l i s Feb.
Consol., 7s........................1902 M «fe N 119 b. 114 Mar.
General mortgage,5 g „.1 9 8 7 J «fe J 117%b. I l l Jan.
Leh.&W.B.,con.,7s,as’d .l9 0 0 Q—M *103 %b. 101% Mar.
“
m ortgage5s.l912 M «fe N * 87 a. 85 Mar.
Am. Dock & Im p .,o s....1921 J «fe J 115 a. 111% Apr.
Central Pacific.—Gold, 6s.1898 J «fe J 105 %b. 10114 Feb.
Ches. & Ohio.—Ber. A, 6 g.1908 A «fe O 117%b. 117 Apr.
Mortgage, 6 g ................. 1911 A «fe O 117 b. 116is Apr.
1st consol., 5 g................ 1939 M «fe N 111% 103 is Mar.
General4%s, g ................. 1992 M«& S 83%
6913 Mar.
R. & A. D iv.,lstCon.,4g.l989 J «fe J 97%
9 1 Feb.
“
2d con.,4g.1989 J «fe J * 89 b. 85 Apr.
Eliz. Lex.& B ig8an.-5g. 1902 M «fe S 100
95 Mar.
Chic. Burl. & Q.—Con., 7s. 1903 J «fe J 122% 118 Mar.
Debenture, 5s.................. 1913 M «fe N 102 a. 98% Mar.
Convertible 5s................ 1903 M <fc S 104%b. 98% Mar.
Denver Division 4s........ 1922 F «fe A 96
93% Feb.
Nebraska Extension, 4s. 1927 M «fe N 91%a. 86% Feb.
Han.&St. Jos.--Cons.,6s. 1911 M <fc S 118
115% Mar.
Chic. &E. 111.—1st, s. f.,6 s.1907 J «fe D 114 b. 114 June
Consol., 6 g .......................1934 A «fe O 122 b. 121% Apr.
General consol., 1st, 5 s..1937 M «fe N 100%a. 96 Feb.
Chicago & Erie.—1st., 5 g.1982 M «fe N 91 b. 77 Mar.
Income. 5s....................... 1982 Oct.
26
14% Mar.
Ohio. Gas L. & 0.—1st, 5 g .. 1937 J «fe J 96 b. 90% Jan.
Ohio.Mil. & St. P.—Con. 7s. 1905 J «fe J 128 b. 125 Feb.
1st, Southwest Dlv., 6s.. 1909 J & J 118 b. 114% Mar.
1st,So. Minn. Div ,6 s ... 1910 J «fe J 118 b. 115 Mar.
1st,Ch.&Pao.W.Div.,58.1921 J «fe J Il5% b. 109% Feb.
Chic. & Mo. RiV. Div., 5s. 1926 J «fe J 107% 104 Feb.
Wise. & Minn., Div., 5 g.1921 J «fe J 110%b. 107% Jan.
Terminal, 5 g ................... 1914 J «fe J 112 b. 108% Feb.
Gen. M., 4 g., series A . ..1989 J «fe J 93 b. 87 Feb.
Mil. <feNor.—1st,con.,6s. 1913 J «fe D 117 b. 116 Jan.
Chic. & N. W.—Consol.,78.1915 Q—F 140 %b. 138 May
Coupon, gold, 7 s ............ 1902 J «fe D 118%b. 119% June
Sinking fund, 6s............ .1929 A & 0
114 June
Sinking fund, 5s..............1929 A <& 0 109 b. 106% Apr.
Sinking fund, deben., 5s. 1933 M «fe N 110 a.
25-year debenture, 5 s ...1909 M «fe N *105%b.
Extension, 4s...................1926 F «fe A 100 b. 93% Mar.
Chio.R.I.&Pao.—6s., coup .1917 J «fe J 128 b. 126 Jan.
Extension and col., 5s... 1934 J «fe J 105%
00 Feb.
• 30-year debenture,5s... 1921 M «fe S 93%
83 Mar.
Chic. St. P. M. & O.—6s....1930 J «fe D 126% 122 Feb.
Cleveland & Canton.—5 s.. 1917 J «fe J 90 b. 82 Feb.
C. C. C. & I.—Consol., 7 g.1914 J «fe D *129 b.
General consol., 6 g ....... 1934 J <fc J 122%b.
0.0.0.&St.L.—Peo.&E.,4s.l940 A «fe 0
74 Mar.
81
Income, 4s........................1990 April.
26 a. 17 Apr.
Col. Coal & Iron.—6 g .......1900 F «fe A 93 b. 92 May
OoLH. VaL&Tol.—Con.,5 g.1931 M «fe S 91%b. 86% Mar.
General, 6 g ......................1904 J «fe D * 94%a. 88 Jan.
Denver & Rio Gr.—lsl^ 7 g. 1900 M<& N 112%b. L12% May
1st consol., 4 g .................1936 J «fe J 89
79 Jan.
Dui. So. Sh. & Atl.—5 g .. .1937 J «fe J 97 a. 90 Feb.
Ft. W.&Denv.Oity.—6 g . 3921 J <& D 73 %b. 65 Feb.
GaLH.&SanAn.-M.&P.D.lst,5g M «fe N * 92 b. 90 May
Gen. Eleotrio, deb. 5s, g ... 1922 J «fe D 89 b. 87 Jan.
Hons. <feT. Cent., gen. 4s, g. 1921 A & 0
69 %b. 61 Feb.
UlinolB Central.—4 g ........ 1952 A & 0 104 b.
M & N 99 %b. 98 Jan.
Int/«fe Great Nor.—ist, 6 g. 1919 M«fe N 118 b. 117 Feb.
2d4-5s.............................. 1909 M & S 79*3
67% Mar.
IowaOentral.—1st, 5 g ....l9 3 8 J & D 90%b. 8434 Mar.
Kings Co. Elev.—1st. 5 g ..l9 2 5 i & J 82 %a. 68 Jan.
Laclede Gas.—1st., a g . . . . 1919 Q - F
973s
90% Feb.
Lake Erie <feWest.—5 g .. . . 1937 I «& J 117 b. 112% Jan.
L.
Shore.—Con. op., 1st, 7s.
J &1900
J 117%b. 116 Apr.
Consol, coup., 2d, 7s.......1903 J <fe D 122
122 June
LonglslancL—1st con.,5g.l931 Q—J 121 b. 117% Jan.
General mortgage, 4 g .. 1938 J «fe D 97 b. 95% Feb.
Louis. «feNash.—Cons., 7s. 189» A <fe O 109 b. 107 Apr.
N.O. & Mobile, 1st, 6 g .. 1930 J & J 121 %b. 115% Feb.
M
“
2d, 6 g .. 193o
<fe J 105 b. 103 % Mar.
General, 6 g ..................... 1930
& D 119 b. 114 Feb.
Unified, 4 g ................... 1940
& J 83 b. 71% Mar.
Nash.Fl.<SiSh.-lst,gtd.,5 g.’37
<fe A 80 b. 79 Jan.
Kentucky Central.—4 g .1987
<fc J 89 %b. 83 Jan.
Louis. N. A. <feOh.—1st.,68.1910
& J 113 b. 106 Jan.
Consol., 6 g ...................... 1916 A <fe O lOO^ab. 93% Feb.
Louis.St. L. & Texas.—6 g.1917 F <fe A 62 a. 55 Feb.
Manhattan consol. 4s........ 199o A «fe O 100 b. 96 Jan.
Metro. Elevated.—1st, 6 g.190» J & J 122 b. 118% Jan.
2d, 6s................................ 1899 M«fe N 107%b. 106 May
Mich. Cent.—1st, oons., 7s. 1902 M & N 119 b. 117 May
Consol., 5s....................... 1902 M & N 107 b. 106% June
MIL LakeSh.AW.—1st, 6 g. 1921 M & N 131 b. 127% May
Extern <fe Imp., 5 g..........1920 F & A 112 b. 109 Apr.
Mo. K. & E —1st 5s, g., gu. 1942 A <fe O 9413
81 Jan.
M.
K. & Texas.—1st, 4s, g. 1990
& D 86
79% Feb.
2d, 4s, g ............................ 1990 F & A 59
44 Feb.
Mo, Pao.—1st,con., 6 g ...,1 9 2 0 M & N 9713a. 83 Mar.
3d, 7s................................1906 M & N 108 b. 103 Mar.
Pao. of Mo.—1st, ex., 4 g.1938 F & A 10413a. 100% Mar.

113% Apr.
76 June
2734 May
28% May
50% Apr.
6 May
108 May
106 May
112 May
107 Jan.
56 May
113 June
121 Jan.
118% June
108 Jan.
92 Jan.
114% Jan.
106 June
121 Feb.
120 Mar.
111% June
83% June
98 June
90 June
100 June
12234 June
101% May
105% June
96% Jan.
92 May
120% Jan.
117% May
125% Jan.
100% Apr.
93 J une
29 May
96% June
128 May
119% June
118 May
115 June
107% June
110 May
111% June
9434 June
120 Feb.
143% Jan.
12334 Feb.
120 Jan.
110% Jan.
110 Jan.
108 Jan.
102% Feb.
130 May
105% June
9334 June
129 May
94 May
130 J une
124 June
81 May
27% May
95 Jan.
94 May
98 Apr.
IJ.5% Apr.
89 June
99% Jan.
74% Jan.
93% May
93% Jan.
71 June

NEW YORK STOCK EXCHANGE PRICES—(Continued ).— I N A C T IV E B O N D S -J U N E 14.
SECURITIES.

Bid. Ask,

Railroad Bonds.
(Stock Exchange Prices.)
Alabama Mid.—1st, g., guar.. 1928
A. T. & 8. F —2d, 4s, Class B.1989
Chicago <fe St. Lou.—1st, 6s. 1915 106
* ui. and. 1st, g., on..............1936
73
Atl. fePac.—2d W .D .,gu.6s,.1907
B a lt . * '"‘ M n — Tot « 0
P 1 0 1 4 115




SECURITIES,
Baltimore «fe Ohio—(Con.)
5s, á«,±d...... ...................1 9 2 5
cons, mort., gold, 5s............1988
W. Va. & ritta.—ist, g., 5s.. 1990
B. <&O. 8. W., 1st, g., 4% s...l990
Monon. River, 1stg.,g. 5 s...1919
Oent’lOhio Reor.—1st, 4% s.l930
Ak.«fe Ch. J udc.—I st,g,5s,gu.l930
Brooklyn Elevated—2d, 5 s ...1915
Rmnaw -Tr 4r W’n_1««•*■ tr 4s. ’ OS«

Bid. Ask.
*111
*114

......

*101
104%
‘ 101
77
80

SECURITIES.

Bid.

Bufi. RGOh. <fePitts.—Gen., 58.1937
Rooh
P., 1st, 6s............1921
Rooh. <&Pitta.—Cons. 1st, 6S.1922
Burl Ced. Rap. <&No.—Ist,5s.l906
Consol. <fe collât, trust, 5 s ... 1934
MinnJ<&St. L.—1st, 7s, gu ..l9 2 7
Iowa O. <&West.—1st, 7 s .... 1909
Ced, Rap. I. F. <&N., 1st, 6S.1920
1st, 5 s.. . . . . . . . . . . . . . . . . . . . . 1921
n rVM/fe_Orti *•
vf \ â
o*

96%
121
118
106

Ask
97%

100
13Ò"
106 107
103
*95

THE CHEONICLE.

J une 15, 1895.]

1053

NEW fORK. STOCK EXCHANGE PRICES.— I N A C T IV E B ONDS— f Continued}— J UNE 14.
SECURITIES,

Bid.

Ask.

SECURITIES.

fia. Cen «fePen.—1st g. 5 s ....1918
Cent. RR. <S Bank.—Col. g.5s.l937 921«
1st con. g., 5 s .......... .............1943
Cent, of N. J.—Conv. deb., 6s.1908 112
Pt. Worth <feR. G.—1st g., 5s..1928
Central Pacific—Gold bds, 6b, 1895 103
Gai. Har. «feSan Ant.—1st, 6s. 1910
Gold oonds, 6a.......... .......1 8 9 6 104
1905
2d mort., 7s...............
Gold bonds, 6a......................1897 1041«
Ga. Car. ANor.—1st, gu. 5s, g.1929
San Joaquin Br., 6s..............1900 105
Ga. So. <feFia.—1st, g. 6s......19 2 7
Mort. gold 5 a ................1 9 3 9
Grand Rap. «felnd.—Gen. 5s.. 1924
Land grant, 5s, g..................1900 *94*
G. B. W. <feSt. P.—1st, con. 5s. 1911
Cal. A O. Div., ext., g. 5a... 1918 105
2d inc. 4s............................... 1906
West. Pacific—Bonds, 6a___1899 106
Housatonic—Cons, gold 5 s....1937
No. Railway (Cal.)—1st, 6a.1907
92
N.
Haven & Derby, Cons.5s..l918
50-year 5 s . .. . .................... 1938
Hous. «feT. C.—Waco <fe N. 7S..1903
Ches. & O.—Pur. M. fund, 6s. 1898 107%
1st
g., 5s (int. gtd)............... 1937
Craig Valley—1st, g., 5 s .... 1940
Cons. g. 6s (int. g t d ).......... 1912
Warm Spr. Val., 1st, g. 5 s..1941
Debent. 6s, prin. <&int. gtd.1897
Ches. O. A So. West.—1st 6s, g .1911
50
Debent. 4s, prin. <feint. gtd.1897
2d, 6 b............. , ......................1911
Illinois Central—1st, g., 4s ...1951
Oh. V.—Gen.con.lst,gu.g,58.1938
1st. gold, 3% s....................... 1951
Chicago A Alton—S. F., 6s___1903 1141«
Western Une, 1st, g. 4s ....D -5 1
Louis. A Mo. River—1st, 78.1900 113
Cairo Bridge—4s...................1950
2d, 7s...................................1900 1071«
Springf. Div.—Coup., 6 s ....1898
86. L. Jacks. A Chic.—2d, 7s. 1898 1071«
Middle Div.—Reg., 5s.. . . . . . 1921
Miss.R. Bridge—1st, s. f., 6S.1912 106
C. St. L. <feN. O.—Ten. 1., 78.1897
Ohio. Burl. & Nor.—1st, 5 s .... 1926 104 105
1st, consol., 7s....................1897
D dbenture 6s................
1896 95
Gold, 5s, coupon............... 1951
Ch o. Burling. & Q.—5s, s. Í..1901 1041«
Memp, Div., 1st g. 4s.......1951
lo va Div.—Sink, fund, 5s.. 1919 108
Ced. Falls <feMinn.—1st, 7s.. 1907
Sinking fund, 4s.................1919 98
Ind. D. <fe Spr.—1st 7s, ex. cp.1906
**lain, 4s................................. 1921 871«
101
Ind.D.&W.—2d, 5s, g.,tr.reo..l948
Chic. A Indiana Coal—1st 5s.1936
Ind. Ills. <&Iowa.—1st, g, 4s.. 1939
Chi. MU. A St. P.—1st,8s,P.D.1898 112 %
1st, e x t , g. 5s. .................... 1943
■d, 7 3-lOs, P. D ..................1898 119 123%
126
125
Int. <fc G. N’n.—3d, 4s, g . . . . . 1921
1st, 7s, $ g., R. D .................. 1902
Kings Co.-F.El.,lst,5,g. ,gu. A. 1929
1st, I. A M., 7s......................1897 1171« 1 .2
Lake Erie <fe West.—2d g., 58.1941
1st, I. A D., 7s......................1899 119 123
L. S. <feM.Sou.—B.«feE.—New 7s.’98
1st ,C. «fe M., 7s......................1903 l i 5 128
1st, I. A D. Extension, 7 s ...1908 130
Det. M. <feT.—1st, 7s............ 1906
Lake Shore—Div. bonds, 7s. 1899
1st, La C. «fe Dav., 5 s . ...... 1919 108
Kal. Ail. <feG. R.—1st gu. 5S.1938
1st, H. «fe D., 7s.................... 1910 127 127%
Mahon’g Coal RR.—1st," 5s. 1934
1st, H. «fe D., 5s.................... 1910 107
Chicago <&Pacific Div., 6 s..1910 118
LehighV. JÜ.Y.—1st gu.g.4%s.l940
Mineral Point Div. 5s.......... 1910 106% 107% Lehigh V.Term.—1st gu, 5s,g. 1941
Lehigh V ’y Coal—1st 5s,gu.g.l933
O. «fe L. Sup. Div., 5s............ 1921 106
ldtchf. Car. A West.—1st 6s. g.1916
Fargo <feSouth., 6s, A ssu ...l9 2 4
Inc. conv. sink, fund, 5 s .... 1916
Little Rock <fe M.—1st, 5s, g .. 1937
Dakota A Gt. South., 5s___1916 107
Long Island—1st, 7 s ............... 1898
MU. <&Nor. main line—6 s ... 1910 '1141«
Ferry, 1st, g., 4%s............... 1922
Ohio. ANorw.—30-year deb.5s.1921
107%
Gold 4s...................................1932
Esoanaba «fe L. S. 1st, 6 s....1901 113
N. Y. <feR’way B.—1st,g. 58.1927
Des M. <fc Minn.—1st, 7s....1907 120
2d mortg., in c.................... 1927
Iowa Midland—1st, 8s........ 1900 1181«
N.Y.«feMan. Beach.—1st, 7s, 1897
N. Y.B.«feM.B.—lstoon. 5s,g.l935
Peninsula—1st, conv., 7 s ... 1898
Brookl’n«feMontauk—1st,6a. 1911
Ohio. <&Milwaukee—1st, 7s. 1898 l i l i «
Win. <fe St. P.—2d, 7s............ 1907 127
1st 5s . . . . .. . . . . . . . . . . . . . . . 1 9 1 1
No. Shore Br.—lstoon.5s,g.l932
MU. A Mad.—1st. 6s............ 1905 114)«
Louis.Evans.A St. L.—Con.5s.1939
Ott. O. F. <&St. P.—1st, 5s. 1909
Northern IU.—1st, 5 s . .. . . . 1910 *ib*8%
Louis. & Nash.—Cecil. Br, 7s.. 1907
Ch.R.I.«&P—D.M.«fcF.D.lst4s.l905
E. H. A Nash.—1st 6s, g .... 1919
1st, 2*88..............................1905
60
Pensacola Division, 6s........ 1920
Extension, 4s.................... 1905
St. Louis Division, 1st, 6 s ...1921
Kaokuk «fe Des M.—1st, 5s.. 1923 103
2d, 3s...................................1980
Chic. St. P. «&Minn.—1st, 6 s ...1918 128
Nashv. <&Decatur—1st,7s.. 1900
nt. Paul «&S. C.—1st, 6s.......1919 127
S. f.,6s.—S. <&N. Ala............1910
Ohio, «fe W. Ind.—1st, s. f., 68.1919
10-40, gold, 6 s .................... 1924
General mortgage, 6s.......... 1932 'ÏÏ5% 117%
50-year 5s, g.,....................... 1937
CSn Ham. «fe D.—Con. s. f., 78.1905 *115
Pens. <feAt.—1st, 6s, g old ... 1921
2d, gold, 4%s.........................1937 '100
CoUat. trust, 5s, g ............ ..1931
Oin. D. «felr’n—1st, gu. 5s, g. 1941 10 2 %
Lou.N. Alb. «feCh.—Gen. m.g. 5 s. 1940
Chev. Ak. «fe Col.—Eq. <fe 2d 6s. 1930
Manhattan Ry.—Cons. 4 s ..... 1990
C.C.C. A St. L., Cairo div.—4s, 1939 91
Memphis <fe Charl.—6s, gold.. 1924
St.Lou.Div.—lstool.ts’t4s,g. 1990 -9¿i«
lstoon . TennU e n ,7 s .......l9 1 5
Spring. ACoLDiv.—1st,g. 4s. 1940
Mexican Cent. Consol.—4s, g. 1911
White W.Val.Div.—1st, g. 4s. 1940
1st, cons, income 3s, g ......1 9 3 9
89
Oin.Wab.<feM.Div.—1st,g. 4s. 1991 *911«
Mex. International—1st, 4s,g.l942
Oin. I. St. L. <fe 0.—1st,g.,4s. 1936 92%
Mexican National—1st, g., 6s.1927
Consol, 6s..............................1920
2 d ,income, 6s, “ A” . ........1 9 1 7
Cin.San.ACl.—Con.lst,g.5s, 1928 108
2d, income, 6s, “ B ” . . . ....... 1917
.( ol.Cin. <feInd.—1st, 7 s,s.i .1899 111%
Michigan Central—6s..............1909
Consol, sink, fund, 7s.......... 1914
Coupon, 5s..............................1931
Cin.ASpr.—lst,C.C.C.AI.7s.l90l
Mortgage 4 s . .. . .................... 1940
115
Cleve. Lorain <&Wh.—1st, 58.1933 107
Bat.C.«feStrgis.—Ist,3s,g.gu.l989
Cleve <fe Man. V.—Gold, 5 s ... 1938
Mil. L. S.«feW.—Conv. deb., 58.1907
Del. uack. A W.—Mort. 7 s .... 1907 130%
Mich. Div., 1st, 6s.................1924
Syr a. Bing. A N. Y.—1st, 7s. 1906 126
Ashland Division—1st, 6s ..1925
Morris & Essex—1st, 7 s .... 1914 140
Minn.«& St. L.—1st, g. 7s........ 1927
Londs, 7 s ............ .........1 9 0 0 116
Iowa Extension, 1st,7s.......1909
7s of 1871...........................1901 118 120
Southwest Ext.—1st, 7s.......1910
1st, con., guar., 7s............ 1915 138% 140
Pacific Ext.—1st, 6s ........1 9 2 1
Warren -2d, 7 s .................... 1900 114
Minn. <fePao.—1st mortg., 58.1936
D «fcH.Can.—Pa.Div.,coup.7s.l917 1«3
Minn.St.P.«&8.8.M—1st o.g.4s. 1938
A.oauy A Susq.—1st,gu.,7s. 1906 125
Missouri Kansas <fe Texas—
1st, cons., guar., 6s........ . 1906 l i 8 %
Mo.K.«feT.of Tex.lst,gu.5s.g.l942
Reas. A Bar.—1st, coup., 7s.l921 142
Kausas City <fe P., 1st,4 s,g..1990
J e n . er City Cable—1st, 6 s ... 1908
Dal. <fc Waco—1st. 5 s,g u ..,.1940
Deuv. Tramway—Cons. 6s, g.1910
Missouri Paoifio—Trust 5 s ...1917
Metropol. Ry.—lst,gu. g.6s,1911
lstooU .,5s, g . . . . ................. 1920
Denv. A R. G.—Imp., g., 5s. ..1928 84
St L.AI. M .-Ark.Br.,lst,7s.l895
Det. Bay C. <&Alp.—1st, g.,6s. 1913
Mobile «fe Ohio—1st ext., 6s... 1927
Det.M. <vt M L . g. 3%s,ser.A.19U
St.
L. <fe Cairo—4s, guar.......1931
21
omuth <x Iron Range—1st 58.1937 96
96% Morgan’s La. <fc T.—1st, 6 s.... 1920
E rie-1st, extended, 7s.......... 1897 106% 106%
1st, 7s......................................1918
2 i, extended, 5 s . .. . . . . . ....... 1919 '114
Nash. Chat, «fe St. L.—2d, 6 s ..1901
31, extended, 4%s.....
1923 108 109
N. O. <&. No. E.—Pr. L, g., 6 s..1915
4 th, extended, 5s.................. 1920 114%
N. Y. Central.—Deb. g. 4 s .... 1905
5 th, extended. 4s.................. 1928 101 102
N. J. June—Guar. 1st, 4 s ...1986
1st, con., g., r d , 7 s .............. 1920
Beech Creek—1st, gold, 4s.. 1936
Reorg., 1st lien, 6s................1908 106 112
Osw. «fe Rome—2d, os, g.,gu.l915
Utica «fe Bl. Riv.—4s, g., gu.1922
t>. N. Y. «fe E.—1st, 7s.......... 1916 129%
N.Y.L.E.AW.—Fiid.oou. 58.1969
N. Y. «fe Put.—1st, g., 4«. gu. 1993
Col. trust., 6 s ...................1 9 2 2 105 110 N. Y. N. H. <&H.—1st, retr. 4 s.1903
Buff. A 8. W.—Mortg. 6s___1908
N. Y. & Northern—1st, g. 5s..t927
Jeflerson—1st, gu. g. 5 s ___1909
102% N. Y. Susq. «fewest.—2 d ,4%s. 1937
Coal «&RR—6s......................1922
Gen. mort., 5s, g ............... 1940
Dock <feImpt.,lst 6s, cur’ oy,19i3 '108
N. Y. Tex. <fe Mex.—Ist,4s,gu.l912
North’n Pacific—Divid’d sorip ext.
E ireka Springs—1st, g., 6 s ...1933
James River Val.—1st, 6s... 1936
E ans. «fe T.H.—1st,cons.,6s.. 1921 112%
Spokane <&Pal.—1st, 6s.......1936
i st, general, g., 5 s ................1942
St.Paul«feN. P.—Gen., 6s.. 1923
Mt. Vernon 1st 6 s ............... 1923
HelenaARedM’n—lst,g., 6s.1937
E.«feT.H.^-*5Ul.Co.Br.lst,g.,58.1930
DuluthAManitoba—lsl,g.6sl936
Ev.ARich.—Istgen.5s,g.gu.l931
Dul.<feMan Dak.Div.—Ist6s.l937
Evans. <Jt Indian.—1st, coub. . 1926
95
Cœur d’ Alene—1st,6s, gold. 1916
Flint «teP. Mara.—Mort., 6 s...1920 '114 115
lsto o n . gold j 5s ...................1939 *89
Gen. lst,g., 6 s .............1 9 3 8
90
Cent. Washington—1st,g.,6s. 1938
Port Bnron—1st, 5s ........1 9 3 9
90
r8
No price Friday; these are the latest quotations made this week. F o r iMLisoell




Bid.
97
58
99

100

*97%

122

113
115

111

104%
86
78

110

103%
102 %
lo3%
111

107%
107%
120

81
*93
*31
105
109
126%
112

114
115%
103
109%

109
94
37%

102
100

35
107%
113
103
122

*66

112%

108

100 %

10*2*

103%
75
100
105
70

117

102

105
130
'125%
137
'121

123
118

*73%
84
*74
101
112
112**
125
107
111
102%
100
104

.

116
78
59
75
120

Ask.

SECURITIES.

Bid.

Ask.

Norfolk & South’ n—1st, 5s,g. 1941 106
Norfolk <&West.—General, 6s. 1931 *113
62
New River 1st, 6s................. 1932 110 115
Imp. <&Ext., 6 s . . . . . . . . . ....... 1934
Adjustment M., 7 b.............. 1924
Equipment, 5s..... ................. 1908
63
Clinch Val. 1st 5s.................1957 60
RoanokeASo.—1st, gu. 5s, g.1922
Scioto Val. «fe N. E.—1st,4s,.1990 79% 80
Ohio «fe Miss—2d consol. 7s. ..1911 118 119%
Spring.Div.—1st 7s..........1 9 0 5
General 5s..............
..1932
100
Ohio River RR.—1st, 5s..........1936
Gen. g.,5 s..............................1937
Oregon & Califor.—1st, 5s, g .1927
109
Oreg. Ry«feNav.—Col.tr. g..5s.l919 *60
90
Penn-P. C. C. «feSt.L. Cn. g.4%s A1940 110%
84
Do
do
Series B
110
103% P.C.A8.L.-lst,o..7s............... 1900
14Í*
Pitts.
Ft.
W.
«fe
6.—1st,
7s...
1912
103
2d, 7 s ................................. 1912 *138
3d, 7s...................................1912 129
Ch.St.L.«feP.—1st,con.5s,g... 1932 111
Clev. <&P.—Cons., s. fd., 7 s.1900 116%
108%
Gen. 4%s, g., “ A” ............ 1942
108%
St. L.V. A T . H —1st, 6s., 78.1897 107
120
2d, 7s...................................1898
2d, guar., 7s.......... ............ 1898
Gd.R.«feI.Ext.—1st,4%s,G.g. 1941 110%
Peo.«feE.-Ind.B.«&W.-lst,pf.7s.l900 113
Ohio Ind. <feW.—1st pref. 5 s.. 1938
84
Peoria <fe Pek. Union—1st, 6s .1921 1X5%
2d mortg., 4%s......................1921 66%
35
72% Pitts. Cleve. <feTol—1st, 6s... 1922
105% Pitts, «fe L. Er.—2 d g. 5s, “ A ” . 1928
Pitts. Mo. K. <&Y.—1st 6s----- 1932 129
110
129 Pitts. Painsv. «fe F.—1st, 5 s ... 1916
Pitts. Shen. & L.E.—1st,g.,5s. 1940 85*
113
1st consol. 5s......................... 1943
Pitts. <&West.—M. 5s,g.l891-194l
78
103% Pitts.Y’gst’n&A.—1st, 5s,oon.l927 105%
Pres. <&Ariz. Cent.—1st, 6s, g.1916
2d income 6s............... ......1 9 1 6
Rio Grande So.—1st, g., 5 s ... 1940
St. Jos. <&Gr. Is.—2d ino........ 1925
Kan. C. <fe Omaha—1st, 5 s..1927
95% St. L. A. A T. H.—Term. 5 s ..1914 103
Bellev. A So. 111.—1st, 8s...x896 104
Bellev. & Car.—1st, 6s......... 1923 100
Chi.St.L. APad.—1st,gd.g.5s 1917 100
43
86
St. Louis So.—1st, go. g. 48.1931
60
do
2d income ,5s.1931
Car. «fcShawt.—1st g. 4 s .... 1932 80
St. L. & S. F.—2d 6s,g., cl. A.1906 114%
96%
General 5s.......................... ..1931
104
82
1st, trust, gold, 5 s . . 1987 77
Kan. City A S.—1st, 6s, g ...l9 1 6
100
Ft. S. & V. B.Bg. -1st, 6 s ... 1910
Kansas Midland—1st, 4s, g.1937
112
St. Paul & Duluth—1st, 5s. ...1931
2d mortgage 5s......................1917 T04 105
St. Paul Minn A M.—1st, 7s.. 1909 115
2dm ort.,6s............................ 1909 117%
Minneap. Union—1st, 6s___1922 '117
Mont. Cen.—1st, guar., 6 s..1937 116% 117%
100
1st guar. g. 5s.................... 1937 103 103%
East. Minn., 1st div. 1st 5s.1908 100
Wilmar&SiouxF.—1st, g,5s.l938
75%
100% San Fran. & N. P.—1st, g., 5s.l919
Southern Railway—
Alaoama Central—1st 6 s ... 1918
110
Atl. A Char.—1st, pref., 7 s..1897 104
Income, 6 s ........... ........1 9 0 0 102
Colum. A Green.—1st, 5-68.1916 110
E. '’enu. V. A Ga.—Divls.5s 1930 111 118
Rioh.A Dan.—Eq. s. f. g. 5s. 1909 *94
Deben. 5s, stamped ......1 9 2 7
97 ioo
Vir’a Mid.—Serial ser.A, 6s. 1906
Series B, 6 s........................ 1911
118
Series 0, 6s.........................1916
Series D, 4-5s ... . .. . . . . . . . 1 9 2 1
Series E, 5 s ..... . . .........1 9 2 6
Series F, 5 s .. . . . .. . . . . . . . . .1 9 3 1
Wash.O.AW.—1st our.gu.4s.1924 82
140 Ter.RR.As’n of St.L.-lst,4%s.l939
128% Texas ANew Orleans—1st,7 s.1905
Sabine Division, 1st, 6s.......1912 'lo 5
123%
Consol. 5s, g . . . . . . . . . . . . . . . . . 1943 94
Tex. A Pac., E. D.—1st, g. 6s. 1905
Third Avenue (N.Y).—1st 5s, 1937 120 %
Tol. A. A. A Cad.—6s............... 1917
70
Toledo A. A. A G ’dTr.—g. 6s. 1921
83
Tol. A. A. A Mt. PI.—6s.......... 1919
75
Tol. A. A. A N. M.—5s, g........ 1940
T.AO.C.—Kan.AM., Mort. 4s. 1990
80
78
Tol. P. A W.—1st 4s,ino.f’ d.oou. J uly 74%
75
102% Ulster A Del.—1st, con.,6.,5s. 1928 102
U .non Pacific—1st, 6s............1896
m
m
m
m
m 1st, 6 s ...... .........................1897 106% 107
1st, 6s.................................... 1899 107
Collateral Trust, 6s..............1908 *94
Collateral Trust, 5s..............1907 *74
Kansas Pacific—1st 6s, g ...l8 9 5 106
1st, 6s, g ..............................1896 107%
C. Br. U. P - F . 0., 7s.......... 1895
42%
Atch. Col. <1 Pao.—1st, 6s... 1905 41
107
Atoh. J. Co. A W.—1st, 6s... 1905
41
U. P. Lin. A Col.—1st,g., 5s. 1918
Oreg.S.L.«feU.N.,col. trst.,58.1919 *24
103
Utah A North.—1st, 7s........ 1908 100
Gold, 5s...............................1926
Utah
Southern—Gen., 7s ..1909 68*
80
Exten., 1st, 7s..............1 9 0 9
68
Valley R’y Co. of O.—Con. 68.1921
.....
Wabash—Debenture, Ser. A .. 1939
61
Debenture, Series B ............ 1939 28
30
Det. A Ohio. Ext. 1st, 5s, g ..l9 4 0 97 100
No Missouri—1st, 7s.......... 1895
103%
103%
St L.K.C.«&N.—R.E.ARR.7S.1895
8t.CharlesBr’ge—1st,6s... 1908 '106
West. Va. C. A Pitts.—1st, 6s. 1911
Wheel.AL.E.—1st. 5s, g o ld ...1.026 10*3*" 10T*
Extension A Imp, g., 5S.....19S0
.92
Wis. Cent, income 5s........ ...1937 *10% .....a

n e u u s a n d U n lis te d H o a d s .—See 3d page preceding.

1054

THE CHRONICLE.
Roads.
AND

[V ol. LX.
Latest Earnings Reported,.

Weekor Mo j 1895.

1 1894.

Jan. 1 to Latest v a ts.
1895,

1894.

s
$
1
9
9
t Interoc. (Mex.) Wk May 25
49,252
48,817
962,878
998.83R
22,40r
Iowa Central.... l stwk j ’ne
28,259
637,408
733,228
iron Railway... May..........
4,455
2,609
21,526
16,810
Jack. T.& K. W. April........
32,761
66,488
192,881
366,325
Jamest’n A L. E April........
3.578
3,125
11,617
12,101
RAILROAD EARNINGS.
9,394
Kanawha* Mich Istwk J’ne
7,063
182,u47
152,717
The following table shows the gross earnings of United K.C.F.Scott &M. 4thwkMay 105,295 123.690 1,745.892 1,943,650'
Mem.* Bir 4thwkMay
26.092
23,973
397,919
419,201
States railroads (and also a few Mexican and Canadian roads) K.C.
Kan.C. N. W .... May..........
18,618
22,498
91,232
128,076
for the latest period reported. The statement includes every
Kan. 0,<Sr Beat. Ma>-..........
377
1,084
2,068
5,242
road from which regular weekly or monthly returns can be K. C. Pitts. & G .. Istwk J'ne
9,123
9,105
215,075
153,956
Sub. Belt Istwk J ’ne
7,157
6.532
90,510
90,091
obtained. The first two columns of figures give the gross Kan.C.
Keokuk A West. 4th wkMay
8,766
9,529
132,428
152.187
earnings for the latest week or month, and the last tjyo col­ L. Erie All.& So. May..........
6,296
4,262
32,839
28,967
umns the earnings for the calendar year from January l to L. Erie A West.. 1st wkJ’ne
64,663
57,171 1,463,102 1,301,818
L eh igh * Hud.. Mav..........
39,271
42.092
181,855
162,889
and including such latest week or month.
Long Island...... May.......... 363.141 371,301 1,306,443 1,358,164
11,562
13,078
74,410
65,225
Latest Earnings Reported.
Jan. 1 to Latest Date. Los. Ang. Term. May..........
Louis.Ev.ASt.L. 1st wkJ’ne
26.725
23.524
575,561
602,943
Ro ad s.
Louisv.&Nashv.
341.815
35(5,995
7,855.735
1st
wkJ’ne
8,030,5991894.
Week or Mo 1895.
1895.
1894.
Louis. N.A.&Ch. 1st wkJ’ne
58,892
58,381 1,242,402 1,101,212
«
Lou. St.L.&Tex. 4thwkMay
6,950
7,363
154.627
158,222
$
I
9
4,295
4. 61
28.932
30,654
53,469 M acon* Birm.. May..........
Adirondack....... April
67.500,
10,967
11,181
Manistique........
15,570
May..........
8,747
55.156
20,217
57,131
Ala. Midland... January...
47.040
47,040
57,131
37,426
42,978
442,437
520,281
Allegheny Val.. April
659,901 Memphis* Chas. 4thwkMa
745,923
206,955 170,260
25,444 tMexioanCent.. 1st wkJ’ne 169,197 167,507 4,028.477 3,748,845
Ark. Midland... April
30,140
6,013
6.577
218,601 155.491
854,106
719,367
Atoh. T. & S.Fe 4thwkMay 758,08 z 716,364 11,478,331 11,34 (,829 Mexican Inter’l April........
77,155
80,206 1,875,993 1.839,100
St. L. & San F. 4thwkMay 160,316 181,230 2,302,608| 2,324,248 IMex. National. 1st wkJ’ne
58,948
56.309
207,126
210,497
Atlantic * Pae 4thwkMay 125,790
91,529 1,510,012 1.30 «,26 4 Mex. Nortnem.. April........
63,480
59,324 1,424,424 1,272,737
Agg. total... 4thwkMay 1,044,188 989,123 15,290.951 14,971.341 iMexicanR’ way W"k May 25
10,150
8,237
190,703
203,017
126,962 Mexican So....... 3d wk May
117,767
Atlanta & W. P. March.......
41,866
36,547
35,442
32,499
711,367
690,111
207,474 Minneap.* St.L. 1st wkJ’ne
Atlan. & Danv,. Istwk J'ne
230,266
14,454
10,287
Austin & N’ west April
70.821
21,952
75,006 Mo. Kan. & Tex. 1st wkJ’ne 18 ■‘,590 136.145 4.5.9,872 3,703,082
19,906
B.&O.East Lines April
1,286,931 1,269,277 5,007,*06 4,944,667 Mo.Pac.&lronM 1st wkJ’ne 380,000 314,000 9,066,344 9,141,751
Central Br’oh. 1st wkJ’ne
8,000
12,000
232,599
Western Lines April
362,491
387,721 361,650 1,677,157 1.390,878
1st wkJ’ne 388,000 326,000 9,298,943 9,504,242
Total........... April
1,674,652 1,630,927 6,684,963 6,335,545
Bal.&O. Sou’ w .. 1st wkJ’ne 112,514 108,503 2,634,807 2,558.710
6,431
5,098
294,465 260,012 1,344,350 1,343,821
244,357
Bangor&Aroost. April........
70.909
97,888 M obile* Ohio.. M a y..
24,273
100,000
Bath & Ham’ ndr. April........
90,704
530,681
6,380 Mont.*Mex.Glf, M a y..
1,931
471,879'
7,071
1,555
388,065 358.646 1,893,562 1,901,249
Blr. A Atlantic.. May..........
6,692
9.353 Nash. Ch. A St. L, May. .
1,339
1,975
Brooklyn Elev.. 1st wb J’ne
1,969
2,008
985,559
801,615 Nevada Central. March
35,377
37.461
5,408
7,028
Brunsw’kkWest January...
25,885
71,304
24,339
44,614
44,614
67,139
48,463 N. Jersey &N.Y. March
48,463
5,856
Buff. Roch. &Pitt 1st wkJ’ne
25,393
5,!-37
991,002 New Orl. A So’n. April.
52.462
27,965 1,206,150
33,849
Bur. C.Rap.&N. 4thwkMay 105,523 102,695 1,441,895 1,488,628 N. Y. C.&H. R .. May......... 3,608,0«6 3,304,803 16,894,113 16,300,442
Camden A A ti.. April........
2,017.248 1,949,374 7,870,656 7,349,692
66,52b
194,089
J90.344 N. Y .L .E .& W.. April.
55,759
CanadianPacific 1st wkJ’ne 358,000 317,000 6,37»,948 6,996,084 N. Y. Pa. & Ohio. March
548.365 4 8 1,087 1,458,633 1,250,128
Car.Midland___ April........
67,208
72,565 1,471,013 1,439,658
17, »»04 N.Y.Ont. * W.. 1st wkJ’ne
2,650
2,631
11,878
Cent, of Georgia April........
173,500 137,220
331,946 325,*06 1,519,360;I 1,797,685 N. Y.Susq.&W.. April.......
724,157
547,673
Central of N .J.. April___ 1,019,401 912,392 3,705,417|t 3,466,414 Norf. &South’n. February
26,688
62,114
30,258
66,720
Central Pacitio.. March... 1,014,879 983,778 2,637,s29 2,632,738 Norfolk & West. 1st wkJ’ne 142.345 212,099 3,842,737 4,039,442
Charlest’n&Sav. J anuary.
510.6U1 444,078 1,998,127 1,775,272
53.241
67,247 North’n Centra) April
53,241
67,247
Cher aw. & Dari.. A p ril....
31,8« 3 North’n Pacitio. 1st wkJ’ne 308,030 258,903 6,134,338 5,598,495
4,773
9,77ft
38,778'
Ches. & Ohio___ 1st wkJ’ne 173,945 166,996 3,987,489 3,594,164 Oconee & West. April,
2,245
1,806
7,359
10,530
Ches.O.*So.W.. 1st wk J’ne
14,496
281,165
12.375
949,546
840,490 Ohio River........ Istwk J ’ne
30,453
43,748
258,620
13,644
Chio. Bur. & No. A pril.
12,032
528,077
139.364 128,932
74,259
71,103
526,•'>87 Ohio Riv.&Chaa M a y.,
Chic. Bur. <fc Q. April.
6,189
2,338,145 2,495.647 9,032, ) 07 10,280,374 Ohio Southern. Istwk J’ne
7,117
295.668
253,988
Chio. & East. Ill 1st wkJ’ne
23,601
77,ftl0
37,738
121,285
49.656 1,527,137 1,362,818 Omaha & St. L .. March___
67,330
Chicago a Erie. April.
251.196 319,513
831.775
217,324 178,416
735,675 Oregon Imp. Co M arch....
749,445
862,387
3,524
Chio. Gt.West’n. Istwk J ne
2,711
68,189
66,491 1,434,466 1,482,348 Ow.F.Rou.*G.R March___
Chic.Mil.*8t.P. 1st wkJ’ne 538.365 584,876 10,814,799 11,879,230 Pennsylvania... April....... 5,205,472 4,764,016 19,436.910 17,838’,528
Chic.&N’thw’n. April.
16,021
13,697
2,138,257 2,177,470 8,174,142 8,958,430 PeoriaDeo.&Ev 1st wkJ’ne
382.715
331,505
Chic.Peo.&St.L Istwk J’ne
46,9o7
48,524
16,931
168,270
184,893
387,799
295,471 Petersburg........ April.......
12,216
Chic.R’ k I. & P .. M ay..
313.723 272,686 1,094,414 1,044,637
1,167,213 1,376,775 5,638,367 6,809,112 Phila. & E rie... April.......
Chie.St.P.M.*o. April.
466,349 511,921 1,897,339 2,269,919 Phila. & Read’g. A pril....... l,6t9,031 1,475.259 6,348,712 5.684.015
Coal&Ir.Co... A pril....... 1.673.155 1,428.055 7,190,130 5.740.016
Chic. & W. Mich 1st wh J’ne
28,486
671, «55 , 622,024
24,035
Total both Cos Apx-il....... 3,322,186 2,903.314 13,538,842 11,424.031
(Choc.OkL &Gli. March...
74,912
240,702
56,421
165,732
Cin.Ga. & Ports. May.......
3,278
1.604
16.715
5,145
24,088
26,129 Pitts. Mar. &Ch. M*y.........
6,75»
13,617
Cin.& Kent. Sou. Ianuary
14,201
905
7,075
412
223,516
90 ft
412 Pitt.Shen.&L.E 1st wkJ’ne
147,682
Cin. Jack. A Mac 1st wk j ’ne
34.053
9,586
27,760
635.213
507,678
240,683
254.300 Pittsb. & West. 1st wk j ’ne
8,767
Pitts. Cl.&Toi 1st wkJ’ne
Cin. N.O. &T. P 3<i wk May
55.OC0
15,806
8.409
324,9u9
47.000 l,268,00i 1,286,000
245,880
Pitts. Pa. & F, 1st wkJ’ne
Ala. Gt. South 3d wk May
17,0O(i
20,00c
7.183
7,740
112,203
531.000
102,121
507.000
N. Orl. & N. E 3d wk May
Total system. 1st wkJ’ne
57.04S
19,001
43.909 1,092,456
15.000
485.000
431.000
874.807
Pitt.
Young.
*A
.
Ala. & Vloksh 3d wk May
April.
108.383
7,00t
89.400
6,000
375.237
186.000
268,456
187.000
Vioks. Sh. A P 3d wk May
8,00t
ls9,00c
6,000
20 118
97,762
19.866
1»0,000 Quincy O.&K.C May. .
92,506
59,112
Erlanger Syst, 3d wk May 109,00«
91.000 2,659,000 2,601,000 Rlch.Fr’ksb.&P April.
221,641
59,518
234,376
Cin. Ports. A V M ay..
28,371
98,829
21,050
28.716
26,052
103,534
92,775 Rioh. & Petersb April.
110,298
17,295
Clev.Akron&Co 1st wkJ’ne
7,410
380,272
16,302
6,139
152,33
368,641 Rio Gr. South’n 1st wkJ’ne
135.890
Clev. Can. A So.. 4thwkMay
41,50(>
15,047
33.306
241,838
10,218
885.715
194,110 Rio Gr.West’n. 1st wkJ’ne
825,589
Sag.TusoolaAH
OLCin.Ch.&St.L Istwk J ’ne 262,432 242,732 5,647,653 5.138.987
M a y..
9,373
9.063
45,209
42,574
Peo. & East’n March___
7,103
410,986
150,30s 137,065
7.923
19.427
364,224 Sag.Val. & St. L. March
20.277
Cl. Lor. A Wheel Istwk J'ne
18,00u
13,632
14,480
481,375
18,958
390,262 S t L. A. & T. H Istwk J’ne
539,561
543,496
Col. M idland.... JthwkApr.
45.272
2.921
38.544
1,692
498,999
14.132
11.070
4» 6,275 St.L.Ken’et&So M ay..
Col. H. V.& Toi May........... 124,812 104,886
79,60
64,300 2,006,687 1,753,736
875,215
914,830 3t.L. Southw’rn. 1st wkJ’ne
Col. Sand’y & H. 1st wbJ’ne
8,321
317,481
7,560
485,975
499,114
219,958 St.Paul&Dul’tl May........... 117.470 140,038
Colusa & Lake . M ay..
6,420
1,250
1,800
ltO.975 134 995
624,043
459.373
6,359 San Ant. <s A.P April........
Crystal............... April.
2,841
77,395
123
808
281,172
7/.380
3,572 S.Fran.&N.Pac. May...........
2a6,986
OumbTdValley. April.
60,044
230,768
36,929
58,345
32,638
225,347 Sav. Am. & Mon May..........
179 671
175,023
Denv. & Rio Gr. 1st wkJ’ne 129,200 107, lOo 2,746,124 2,6 >3,790 8av.Fia. * West January... 319,124 382,627
319.124
382.627
Det.Lans’ g&No. 1st wkJ’ne
461,571
17,186
20,359
9,101
6.196
423,042 Sher.Sbrev.* So 4tliwkMay
136,900
111,835
Det. & Mackinac April.,
23,803
93,296
20,226
6,100
3,09s
85,756 Silverton........... May...........
Duiuths.S.&Ati. 4i hwkMay
718.290
67,8lb
48,885
566,389 So. Pacific Co.—
Elgin. Jol.&Easi M a y..
Gal.Har.&S.A March....... 403.676 303,628 1,124,795
91,312
6",86 • 456,978
936,956
436,519
Eureka Springs. March
Louis’a West. March.......
5,461
14,404,617
96,613
91,952
265.095
301,377
15.654
Evans. A lnd’ plis 1st wkJ’ne
Morgan’ sL&T March....... 514.374 426,662 1,617.258 1,358.472
111,965
3,212
5,191
119.025
Evans. & Rioh.. 1st wkJ’ne
N.Y.T.&Mex, March.......
2,501
40,583
1,757
18,260
54,747
18.538
51,096
42,447
Evansv. A T. H 1st wkJ’ne
Tex. &N. Orl.. March....... 142,179 139.850
20,28s
442,395
12,930
412,325
439,184
404.077
FindlayFtW&W January..
Atlantic sys.6. March....... ,196,892 986,725 3,592,523 3,049.591
5,448
4,658
5,448
4,658
Fitchburg.......... April.......
Pacific system .March....... 2,564,171 2,545.817 7,000,245 6 904,552
575,838 542,320 2,155,946 2,016,430
Flint A P. Marq le t wkJ’ne
Total of all.. April........ .623.161 3.727.567 14,215,929 13,681,710
45,263
42,630 1,059,398 1,061,046
Fld.Cnt.* Penin Istwk Jan
53,440
So. Pao. of Oa) March....... 862,356 820,777 2,285,113 2,247,943
53,440
59,71»
59,710
Ft.W. A Rio Gr 4thwkMay
9,031
So.Pao.of Ariz March....... 2 ¿5,524 181,026
5,792
151,546
618,280
508,546
106,609
Gads. A Att. U M a y...
So.Pao.of N.M March.......
867
3 32s
627
97,665
2,605
79,370
221,736
269,48»
Georgia R R ....... Istwk J'ne
18,743
Northern Ry.. March....... 127,14
514.739
18,953
555,016
423,363
Ga. Carla A No April..
246,287
51,838
50,562
24*,517 Southern R y ... 1st wkJ’ne 298,730 289.410 7,324,110 7,477,317
Geo. So. A Fla.. M a y ..
65,934
319,358
59.97»
351,277 Staten Isl. R. T. March.......
78,117
204,541
173.590
67,818
Gr. Rap. A Ind. 1st wkJ’ne
37.272
846,392
30,-95
1,619
2,023
5,564
771,928 StonyCl. AUMt.. April........
5,089
Cin. R.&Ft.W. 1st wk j ne
7,660
184.290
6.656
88,232
293,763
162.026 Summit Branch. A p r il...... 113,047
397,626
Traverse City. 1st wkJ'ne
18,-3o
885
Lyk. Val. Coal Api il........
911
31,514
81.133
252,106
254 809
22,318
Mus. G. R. A I. 1st w k j ne
2,358
52,857
l o t ’l both Co’s April........ 144.56» 169,365
1,867
38,823
545,869
652.435
Tot. all linee 1st w k j ne
40,32» 1,102,362
48,1/5
995,094 Cexas & Pacific. 1st wkJ’ne 161.677
88,5b9 2,779,994 2,60/,3 25
321,863
Grand Trunk... WkJune 8
307,314 7,208,972 7,371,152 Csx.8. Val&N W May..........
3 009
17,930
3,186
17,509
Chio. A Gr. Tr. Wkjune 1
59,427
57,127 1,113,019 1,213,840 fol.A.A.&No.M. 1st wkJ’ne
19,728
446,717
15,835
435,972
Det.Gr.H.*M. Wkjune 1
371,162
18,238
16,565
18,59»
580,322
385,062 Col. & Ohio Cent. 1st wkj ’ne
64>>,039
14,9 2
Great Nortli’n—
Col. P. A West.. 4thwkMav
26,553
3 s 9,665
15,097
380.703
St. P. M. A M. May.......... ,002,609 813,161 4,139.194 3,397,219 rol.S t.L .*K .C . 1st wkJ’ne
30,807
559.872
24.527
638.632
East of Minn.. May..........
85,473
104,555
438,008
327,172 (Jister & D el__ April__
31,983
104,804
30,79 z
93,801
124,137 144,808
603,476
. Montana Cent. May..........
548,332 Union Paoiflo—
Tot. system. May.......... 1,231.301 1,043,442 5,180,67s 4,272,723
Un. Pac. RR .. March....... ,075,573 1,078,898 2,986,43: 3,124,976
Gulf & Chicago. May..........
17,252
3.333
3,435
Or.S.L. * U. N March....... 354,834 390,8-2
16.654
992,159 1,692,912
Hoos.Tun. A Wil. April........
15,164
3,132
4,342
10,597
StJos.&Gd.Is. March.......
50,634
68,883
211,647
141,1»3
40,934
Hous.E.&W.Tex May..........
209,413
27,417
Kan.C.&Om, M a rch .....
164,578
5,916
33,843
18,157
10,856
39,600
Humest’n&Shen May..........
6,700
8,210
46,763
Tot. St.J.&G.I. 1st wkJ’ne
12,300
424.441
16,900
265,291
Illinois Central. May.......... 1,605,209 1,427,87». 7,673,437 7.179.988
Oent.Br........ a 1st wk j ’ne
8,006
362,491.
12,000
232,599
190.321
6,472
7,405
Ind. Deo.&West. Istwk J’ne
Ach.Col.&P. i
144,351
25,409
96,095
37,328
68,006
Iud. 111. & Iowa. April........ j
273,164
60,355
Aoh.J.C.A W ( March____
65,971
246,877
In.A Gt. Nortli’ n 1stw kj'n e
45,210 1,569,320 1,261,243
6S.179
Gr’d total.*« March....... ,639,644 1,791,165 4,577,8831 5,163.406

a ilr o a d




THE CHRONICLE.

J u n e 15, 1895.]
Roads
*Un. Pac.—Con­
ti. Pao. D. & G.
F tW ’th&D.C.
Wabash.............
Waco & Northw.
West J ersey.....
W.V.Cen.& Pitts
West Va.&Pitts.
Western of Ala..
West. Maryland.
West.N.Y. &Pa.
Wheel. & L. Erie
Wisconsin Cent.
Wrightsv. & Ten.

Jan. 1 to Latest Date.

Latest Earnings Reportea.

1895.

1895.

1894.

April........
4th wkApr.
1st wkJ’ne
March.......
A pril........
May.......
March.......
March.......
April........
4thwkMay
1st wkJ'ne
1st wkJ’ne
April____

*
210,259
21,311
227.667
15,972
117,167
89,684
30,119
41.385
92,586
9 >.400
17,09»
97,181
7,623

$
$
$
870,644
879,036
213,668
20,631
354,169
349,938
4,940,564 4,679,148
173.24
58,990
42,232
13,638
390,561
112,935
411.356
404,352
361,696
57,'; 2 1
8 ',941
32,1 9
74,258
40,041
120,617
128,974
355,547
324,83)
91,649
56,400 1,212,983 1,035,419
12,527
590,099
473,322
....
78,700
25,12!
26,844
5,481

Street Railways and Traction Companies.
R o ad s.

Week or Mo

1395.

| Jan. 1 to Latest Date.

1894.

1895.

1894.

$
$
$
$
9.572
43.210
38,339
10,360
Bingh'ton St.Ry M ay.------109,001
6,23 L
3,211
45, o;
©ridgep’t Trac. 1st wkJ’ne
B’klyn Trac’n—
207,335
73,4 7<
72,217
296,748
Atlantic Ave. April........
7,324
23,175
19,857
7,330
B’klnB &W.E. April........
644,844
132,654
143,255
593,680
Buffalo R y........ May..........
36,243
165,967
45,959
132,625
Cin.Newp.&Cov April........
264,393
74,202
64,209
235,910
•Citizens’ L'd’lis. April........
426,475
347,544
Cleveland Elec. April........ 115,425 101,978
11,665
252,855
225,614
13,754
Columb’s St. Ry. 1st wkJ’ne
219,647
57,350
214,606
57,539
Den v. Con. Tram April........
15,563
63,158
57,382
16,901
Duluth St. R y... April........
13,353
57,508
53,492
16,039
•Galv’stn CityRy April........
114,246 107,403
Louisville R y ...
241610
488,907
441,828
29,168
Lynn & Boston. 1st ^wkJ’ ne
4,808
5,393
New England St Wk.Tune 8
83,623
515,131
119,142
380,220
New Orl’ns Trao May..........
238,572 190,629
ThirdAve.(N. IT.)
86|Ò47
82¡238
Toronto St. Ry.
590,074
585,064
152,916 152,265
Twin City R. T..
119,739
99,056
32,475
26,798
Worcester Cons. April___
* Figures given do not include Oregon Ry. & Nav., Un. Pao. Denver &
Gulf, Denver Leadville & Gunnison, Montana Union and Leavenworth
Topeka & South western.
a These figures include results on leased lines.
b Includes earnings from ferries, etc., not given separately, t M exi­
can currency, c Includes only half of lines in whioh Union Paoiflo has
a half interest.

Latest Gross Earnings by Weeks.—The latest weekly earn
ings in the foregoing are separately summed up as follows :
For the first week of June our preliminary statemen
covers 66 roads, and shows 8'81 per cent gain in the aggre
gate.
1st week o f June.

Bait.

Ohio Southwest.

Buffalo Rooh. & Pittsb’g.
Chesapeake & Ohio........
Giles. Ohio & Southwest.
Chicago & East. Illinois
Chicago Great Western..
Chicago Milw. <fc St. Paul
Chic. Peoria & St. Louis.
Chic. & West Michigan...
Cin. Jackson & Mackinaw
Cleve. Akron & Columbus
Oleve. Cin. Chic. & 8t. L ..
Clev. Lorain & Wheel’g..
Col. Sandusky & Hock’g.
Denver & Rio Grande—
Detroit Lans’g & North’D
Evausv. & Indianapolis.
Evansville <fc Richmond.
Evansv. <&Terre Haute..
Flint <te Pere Marquette.
Grand Rapids & Indiana.
Cincinnati R. & Ft. W-.
Musk. Gr. Rap. & Ind .
Grand Trunk of Canada..
Indiana Decatur & West.
Intern’l & Gt. North’n ...
Kanawha & Michigan....
Kan. City Pittsb. & Gulf.
Kan. City Suburban Belt.
Lake Erie <fc W estern....
Louisv.Evansv. & St. L ..
Louisville & Nashville...
Louisville N. A. & Chic..
Mexican Central.............
Mexican National...........
Minneapolis & St. Louis.
Mo. Paciflo & Iron Mt___
N. Y. Ontario & Western
Norfolk & Western..........
Ohio River.........................
Peoria Deo. <fc E vansv...
Pittsb. Shen. & L. Erie..
Rio Grande Southern....
St. Joseph & Gd. Island.
St. Louis Ait. & T. Haute.
St. Louis Southwestern..
•Southern Railway..........
Tol.Ann Arbor &N.Mich.
Toledo & Ohio Central...
Toledo St. L. & Kan. C...




1895.
14,454
112,514
37,461
52,462
358.000
172,915
43,748
77,510
68,189
533,365
16,931
28.486
9,586
17,295
262,432
18,958
8,321
129,200
20,35u
5,191
2,501
2 0,283
45,263
18,743
37,272
7,660
885
2,358
321,863
7,405
66,179
28.259
9,394
9,123
7,157
64,663
26,725
341,815
58,892
169,197
77,155
35,442
188,590
380,000
8,000
67,203
142,345
308,u30
14,496
6.089
16,021
14,2 Jl
57,042
7,410
41,500
12,300
18,0 »0
79,600
298,730
101,677
19,728
18.599
30,807

1894.
10,287
108,503
35,377
27,965
317,000
166,996
30.453
49,656
66,491
584,876
12, ¿16
24,035
8,"67
16,302
242,732
13,632
7,560
107,100
17,186
3,212
1,757
12,930
42,630
1.8,953
30,895
6,656
911
1,867
307,314
6,472
45,210
22,405
7,063
9,105
6,532
57,171
23,524
356,995
58,381
167,507
80,206
32,499
136,145
314,000
12,000
72.565
212,099
258,903
12,375
7,117
13,697
7,075
43,904
6,139
38,300
10Ì900
14.480
64,300
239,410
88,569
15,835
14,992
24,527

Increase.
$
4,167
4,011
2,084
24,497
41,000
5,949
13,295
27,854
1,698
4,715
4,451
819
993
19,700
5,326
761
22,100
3,173
1,979
744
7,353
2,633
6,377
1,004
491
14,5 19
933
20,969
2,331
18
625
7,492
3,201
511
1,690
2,943
52,445
66,000

49,127
2,121
2,324
7.126
13,133
1,271
3,290
3,520
15,300
9,320
13,108
3,893
3.607
6,280

1st week of June.

1894.

Week or Mo

Latest Earnings Report'd.

1055

Decrease.
$

Wabash.............................
Wheeling & Lake Erie...
Wisconsin Central..........
Total (66 r o a d s ).......
N«t,increase (8*81 p. 1.)..

1895.

1894

$
227,667
17,094
97,181

$
173,241
12,527
78,700

Increase.
54.426
4.567
18,481

5,522,956 5,075,134

597,539
447.82 2

Decrease.
$

149,717

For the fourth week of May our final statement covers
82 roads, and shows 6 '45 per cent gain in the aggregate.
4.th week o f May.

1895.

1894.

Increase.

$
$
Prev’ly reported (59 r’ ds) 7,521,758 7,064,358
716,364
758,032
itch. Top. <£ San. Fe.......
160,316
St. Louis & San Fr........
181,230
91,529
125,79
Atlantic & Paoiflo........
57,127
Chicago & Grand Trunk.
59,427
100,32 7
100,737
Chicago Great Western..
15,047
Cleve. Canton & South’n
10,218
16.565
18.238
Det. Gr. Hav. & Milw—
67,3 16
48,885
Duluth So. Shore & Atl..
65,142
68,918
Flint & Pere Marquette..
48,011
49.260
Grand Rapids & Indiana
12,830
12,255
Cin. Rich. & Ft. Wayne
1,774
1,418
Traverse C ity..............
4.126
Mus. Gr. Rapids & Ind
3,158
49,252
48,817
Interoceanio (Mex.)........
123,690
103,295
Kan. Citv Ft. 8. & M em ..
23,973
26,092
Kan. City Mem. & Birin..
8,766
9,■‘>29
Keokuk & Western..........
37,426
42.97?
Memphis & Charleston..
59,324
63,480
Mexican Railway........ .
75.450
75,300
Bio Grande Western.......
6,196
9,101
Sherman Shreve. & S o ...
15,097
26,553
Toledo Peoria & West’n..
56,400
90,400
Western N. Y. & P en n..

$
646.943
41,718

9,453,374 8,830,481

810,650
572.893

Total (82 roa d s).... ...
Net increase (6*45 p. 0.)..

34.26Ì
2,300
.. ___
4,82 0
1,673
18,961
3,776

Decrease.
$
189,543
20,914
410

1,249
575
356

963
435
______
2,119

18,395

4,106
150
2,904
11,456
34,000

__ ____

763
5,552

237,757

The following will furnish a comparison of the weekly
results for a series of weeks past.
WEEKLY GROSS EARNINGS.

Period and number o f
roads included.
Feb.—1st week ( 79 r ’ds).
“
2d week (79 r’ds).
“
3d week (31 r’ds).
“
4th week (87 r’ ds).
Mob.—1st week (83 r’ds).
“
2d week (8 2 r’ ds).
“
3d week (87 r’ds).
“
4th week (31 r’ ds).
Apr.—1st week (31 r’ds).
“
2d week (80 r’ds).
“
3d week (->1 r’ds).
“
4th week (79 r’ds).
May—1st week (30 r’ds).
2d week (79 r’ds).
“
3d week (77 r’ ds).
“
4th week (32 r’ds).
June—1st week (66r'ds).

1895.
$
5,813,463
5,577,446
6,352,149
7, >6 1,997
6,585,544
6.732,462
6,853,151
9,271,784
6,544,574
6,339,409
6,549,617
8,530,102
6.236,972
6,24 1.9J5
6.333,606
9,453,374
5,522,956

1894.
$
6,143,809
6,050,061
6,296.813
6,950,030
6.564,034
6,644,509
6,761,287
9.255,903
6,395,262
6,372,671
6,364.433
7,724,802
5,495,710
5,935,237
5,845,253
8,830,481
5,075,134

—,
,-------- Changes.
Amount.
$
P. ct.
330,346 Deo. 5-38*
472,615 Deo. 7 ‘81
55,636 Inc. 0-88
313,967 lac. 4-52
21,510 lac. 0-33
87,953 lac.
1*32
91,864 Inc. 1-36
15.831 lac. 0-17
149,312 la c. 2-33
3,2 »2 Dec. 0-05
185,184 lac.
2*91
805,500 lac. 10-43
241,262 lac. 4-02
356,668 la c. 6 02
493,353 lac. 8*44
572,893 lao.
6-45
447,822 lac. 8-81

wet Earnings Monthly to Latest Rates.—The table fo l­
lowing shows the net earnings reported this week. A full
detailed statement, including all roads from which monthly
returns can be obtained, is given once a month in these
columns, and the latest statement of this kind will be found
46,511 in the C h r o n ic l e of May 25, 1895. The next will appear in
the issue of June 22, 1895.

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

,— y et 1Earnings.——»
-Cross Earnings.1894.
1895.
1894.
1895.
$
$
$
$
Roads.
6,877
6,489
21,952
19,906
Austin & Northw.. ..Apr.
16,540
22.856
75,006
70,821
Jan. 1 to Apr. 30___
9,'84
4
9,317
20,226
23,803
Detroit & Mackinac. Apr.
41,504
46,678
85,756
93,296
Jan. 1 to Apr. 30---12,475
13,637
29,067
37,053
Ed. El. 111. Co., Bkly n .. May
79,939
83,963
165,790
208,196
_____ _
Jan. 1 to May 31 —
46,864
63,596
98,344
120,586
Edison El. II. Co., N.Y.May
" “ 2ÏO
323,140
365,863
586,403
690,811
Jan. 1 to May 31 —
46,471
62,934
190,927
227,086
Flint & Pere Mar. a .. Apr.
236.820
192,569
830,635
806,044
Jan. 1 to Apr. 30---26
*4,299
80,955 def.8,027
83,364
Georgia, a .................May
*136,319
-64,553
536,063
49>,998
Jan. 1 to May 31---July 1 to May 3 1 .... 1,230,379 1,289,083 *320,159 *476,434
75,629
88.895
230,358
264,969
Louisv. N. A. & C .a . Apr.
230,575
192.821
814,355
93 1,905
Jan. 1 to Apr. 30---844,390
780, L58
July 1 to Apr. 3 0 .... 2,528,909 2,655,100
def.424 def.6.676
89,277
84,785
Memphis & Chas’n ... Apr.
19,894
27,101
Milwaukee Gas-L.Co.May
143,259
170,819
Jan. 1 to May 31 —
46,023
15,180 N. Y. Bus. & West, b . Apr.
(48.833
137,220
173,500
206,130
252,233
724,157 • 547,673
Jan. 1 to Apr. 30___
__ __
73,932
100,717
272,686
313,723
Philadelphia
&
EriebApr.
3,051
265,355
234,086
Jan. 1 to Apr. 30___ 1,094,414 1,044,637
21,900
72,818
Cenn.Coal 1. & R R ...M ay
254,700
291,555
Jan. 1 to May 31---183,500
240,55 5
Feb. 1 to May 3 1 ....
•4,000
36.042
•5,357 Un.P.D. & Gulf. b . . . .. Apr.
29,813
213,668
210,259
69,754
164,499
169,967
870,644
876,066
Jan. 1 to Apr. 30—
16,869
30,683
57,721
89,684
West Va. Cent. & P .. May
127,72 8
144,353
361,696
404,352
Jan. 1 to May 3 1 ....
"ï.o z é
326,305
327,852
917,077
958,813
July 1 to May 3 1 ....
13,670
32,199
16,986
30,119
W. Virginia & Pitts. .Mar.
49,823
38,372
80,941
74,253
Jan. 1 to Mar. 31 —
82,017
74,433
239,894
271,571
Wast.N. Y.& Penn. b . . Apr.
265,443
193,544
902,853
948,083
Jan. 1 to Apr. 3 >....
733,550
4,600
831,061
July 1 to Apr. 3 0 .... 2,737,631 2,598,361
. . . . -...
lNet earnings here given are after deducting taxes.
>Net earnings here given are before deduoting taxes.
' Including other income, dcfloit for May, 1S95, $8,027, against a
rplus for 1894 of $34,29 », and froai January 1 to May 31 was $95,. . . . . ...
4, against $197,695, and from July 1 to May 31 $382,911, against
..........

1056

THE CHRONICLE.

Street Railways and Traction Companies.
-Gross Earnmgs.1895.
1894.

Roads.
Binghamton 8t. Ry.May.
10,860
9,572
Jan. 1 to May 3 1 ....
43,210
38,339
Buffalo Railway.......May
143,255
132,654
Jan. 1 to May 31___
644,844
593,680
July 1 to May 3 1 __ 1,453,962 1,382,121
ThirdAve.Rv. (N.Y.) .May
238,572
190,629
Toronto Street Ry. .May
86,047
82,238

— Net Earnings.—
1985.
1894.
4,879
12,488
74,668
296,955
676,576
*79,000
44,189

1,240
8,718
59,730
242,184
581,871
*62,000
36,908

V ol.

LX.

Balance Sheet.—Its balance sheet for four years past has
show n:
CHICAGO & WESTERN INDIANA BALANCE SHEET DEC. 31.

1894.
1893.
1892.
1891.
A.S8&tS^“
$
$
$
$
Cost of property........... 19,127,767 18,893,906 17,939,848 16,358,897
Accounts due and unpaid
548,847
549,541
464,709
555,239
Cash....................................
327,774
233,475
200,348
461,342
Materials..........................
102,814
169,070
213,552
96,446

Interest Charges and Surplus.—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.

Total........................... 20,107,202 19,845,992 18,818,457
Liabilities—
Stock..................
5,000,000 5,000,000 5,000,000
Bonds. ..............................11,200,667 10,943,667 10,228,667
Vouohers&currentaccts.
126,080
286,563
546,681
8inkit>g funds ................ 2,978,009 2,832,586 2,299,490
Interest account.............
63,743
63,183
60,264
Coup, matured, not paid.
12,355
9,610
8,400
726,346
710,383
674,955
Income account...............

Bat. o f Net Earns —,
-Interet, rentals, <tc,
1894.
1895.
1894
1895.
Roads.
H int & Pere M arq... Apr.
51,974
11,438 def.5,503
51,496
Jan. 1 to Apr. 3 0 ....
207,934 def. 12,345
28,886
204,914
59,700
24,083 def.37,800
Tenn. Goal I. & KB..M ay
48,735
238,800
45,615 def.55,300
Feb. 1 to May 31 ...
194,940
Month of
July 1 to
Aug. 16, ’93.
Jan. 1 to
NOR. PACIFIC - Apr., 95. Apr.30, 95 Apr. 30,’ 95. to Apr.30,’ 95.
Gross earnings___$1,307,735 $4,503,715 $14,839,331 $29,282,324
Operat’g expenses.
848,820
3,233,880
9,386,803
19,447,943

Earnings o f Belt Railway.—The Belt Railway has no
securities held by the public, its stock being all owned by the
proprietary companies above mentioned. Its gross earnings
in 1894 were $588,335, contrasting with $646,381 in 1893 and
$863,408 in 1892. After deduction of operating expenses,
rental to Chicago & Western Indiana ($141,416 in 1894) and
taxes, it had a deficit for 1894 of $26,216 as against a deficit of
$52,123 in 1893 and a surplus of $139,617 in 1892.— V. 59, p. 476.

‘ After deducting fixed charges as well as operating expenses.

Net earnings...
Miscellan. income.

$458,915 $1,269,835
123,730
42,394

$5,452,528
351,608

Ch’gs preced. 2d M.

$582,645 $1,312,229
523,392
2,081,015

$5,804,136 $10,679,578
5,633,904
10.783,103

Other charges........

$59,253 df.$768,786
447,174
1,766,496

$9,834,381
845,197

17,471,924
5,000,000
9,172,666
378,552
2,171,677
55,628
8,535
684,866

Total............................20,107,202 19,845,992 18.818,457 17,471,924

Toledo Ann Arbor & North Michigan Railway.

(R eport fo r the year ending Deo. 81,1894.)
This company is in process of reorganization and the
present bonds will be retired, but the following figures of
$170,232 def.$103,5‘25 earnings, etc., will be found interesting.

4,151,486
9,132,619
Main line and branches operated Deo. 31,1894 (miles)..
302*73
931,417
Deficit................. $388,121 $2,535,282
$3,981,254
$9,236,144 Tons carried, 1894 .................................................................
Tons carried one mile, 1894.................................................. 88,319,482
Noth.—These figures include results on Branch lines exoeptfor Dec., Average rate per ton per mile, 1894 (cents).......................
0*84
1893.
Number passengers carried, 1894
.................................
247,898
* Including provision for branch roads.
Number passengers carried one mile, 1894.......... ............ 9,369,391
i Includes provision for interest on branch roads since August 16, Average rate per passenger per mile, 1894 (cents)..........
2*50
1893.
EARNINGS, EXPENSES, ETC., TEAR ENDING DEC. 31, 1894.
Earnings—
I Operating expenses—
Freight........................... $743,724 I Conducting transport’n $344,064
ANNUAL REPORTS.
Passenger....................
240,195 Mainten’ ce of equlpm’t 140.753
Mail.................................
38,857 Maint.of way & build’gs
276.753
Express..........
18,000 General exp en ses......
64,827
Chicago & Western Indiana Railroad.
Miscellaneous.
44,448

( Report fo r the year ending Dee. SI, 1894.)
This company owns road and terminals at Chicago which
are leased under perpetual contracts to the Wabash, the
Chicago & Grand Trunk, the Chicago & Eastern Illinois, the
Chicago & Erie and the Louisville New Albany & Chicago,
each of which five companies owns $1,000,000 of the Chicago
& Western Indiana’s $5,000,000 capital stock. The Atchison
and the Belt Railway are also its tenants. The annual rentals
provided by the leases must always exceed by at least 20 per
cent the interest on the bonds at any time outstanding.
Chicago & Western Indiana.—This company’s road ex­
tends from Chicago to Dolton, with an extension from Oak­
dale to the Indiana State line, near Hammond. Its traeks
are used as follow s:
Chicago & Eastern Ills. RR...Chicago to Dolton (17 miles).
Wabash R R ................. ............ Chicago to Auburn Junction (8 miles).
Chicago & Grand Trunk Ry..Chicago to 49th Street (5 miles).
Louisy. New Albany &Chio. j
Wabash RR. (Eastern Div.) > Chicago to Indiana State Line (20 miles).
Chicago & Erie RR. ............$
A. T. & 8. F. RR ....................... Chicago to 19th Street (1 mile).

Dearborn Station, on Polk Street, near State, is one of the
most commodious stations in the country, and its use by the
Eastern, Western and Southern roads named above makes the
transfer for passengers from one road to another easy and
convenient.
Belt Railway o f Chicago.—This company is an allied cor­
poration with no bonds outstanding and with capital stock of
$1,200,000, all owned by the five companies which control the
Chicago & Western Indiana. It transfers freight cars be­
tween the different railway lines, industries and warehouses
in and about Chicago. Its tracks extend from the C. M. &
St. P. Junction (Cragin) to South Chicago and the South
Chicago Docks, connecting with all railways entering the
city. Industries located on the line of the Belt Railway are
afforded switching facilities and the advantage of connections
with all Chicago railroads.
The above facts are given by T h e C h r o n ic l e for the infor­
mation of its readers and are not from the annual report.
Income Account.—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
reports showing :

Total gross...............$1,085,224]
Total......................... $826,397
Net earnings................................................................................... $258,827
Income account—
Interest on funded debt...................................................................$373,070
Interest on Frankfort & SoutheasternRR. bonds....................... 12,925
Discounts...........................................................................................
9,032
Taxes.................................................................................................. 23,989
Adjustment of T. A. A. & N. M. accounts.................................... 11,297
Total charges............................. ........................ .
..$430,313
Balance, deficit for year...............................................
..$171,486
BALANCE SHEET DEC. 31, 1894.
Assets—
Liabilities—
Construction............... $12,478,404 Capital stock............... $6,500,000
Equipment.................. 1,998,803 Funded debt............... 7,485,000
Fuel and supplies.......
96,904 Car trusts....................
908,413
Due from agts.&others 1,972,006 Bills payable..... .........
683,190
Cash..............................
15,083 Vouchers and aco’nts.
213,733
Profit and loss deficit.
426,706 Receiver’ s certificates
62,000
Accrued int. on. coups.
776,590
Do
unadjusted.
358,980
Total.......................$16,987,906
—V. 60, p. 969.

Total............. ......... $16,987,906

Southern Cotton Oil Company.

( Report for the year ending April 30, 1895.)
President Henry C. Butcher, in the annual report, says in
part :
General Results—All of the company’s mills have been in
successful operation during the year ending April 30 with
the exception of that at New Orleans. The physical condi­
tion of the property to-day is of the very best. The Treas­
urer’s report shows net profits for the year of $210,462. This
figure is reached after writing off as expenses $30,000 for
depreciation of cattle sheds, $18,000 for depreciation of seed
sacks and $32,000 expended for improvements and additions
to the plant, as well, of course, as the cost of all repairs, re­
placements and the general expenses of conducting the busi­
ness, thus showing the actual earnings of the company for
the year to have been in excess of $290,000.
The market for your products opened in September at the
highest prices of the year. From that time until the middle
of March there has been a gradual but steady decline of seven
cents a gallon for oil and $6 to $7 per ton for cake and meal
INCOME ACCOUNT OP CHICAGO & WESTERN INDIANA RR.
(making an all around reduction of 35 per cent), followed by
1894.
1893.
1892.
1891.
slightly better prices during April. The most careful admin­
Revenue—
$
$
$
$
Rental from leasees........
953,736
948,959
805,248
755,277 istration of the company’s interests in the purchase at low
“
“ Ind. El’vator
30,000
30,000 rates of raw material alone achieved the results now pre­
“
“ houses&land
22,662
24,898
29,054
27,229 sented.
Dis.,int. and exchange...
7,121
7,550
4,620
Reduction o f Capital—The Board would express its grati­
Miscellaneous earnings..
11,460
23,258
2,357 deb.13,197
fication at the cordial response to its recommendation that
Total............................
994,979 1,001,735
874,209
802,969 the capital stock be reduced to $2,000,000. They feel assured
Expenses—
Intere st charge.................
671,036
657,742
578,979
538,330 that the action in this matter will result in enhancing the
Dividends.........................
300,000
300,000
300,000
125,000 already very high credit enjoyed by the company and a de­
Miscellaneous.................
8,564
5,141
7,979
5,525 cided increase in the value of the shares. When this reduc­
Total............................
979,015
966,306
884,120
668,855 tion is finally affected, the surplus will exceed 20 per cent of
Balance..... ................. _
tsr.15,964 sr. 35,429
df.9,911 sr.134,114 the capital, after paying a dividend of 6 per cent thereon,
and the books will show no assets save those of real and
1 The surplus on Deo. 31,1894, as per balance sheet, was $726,347. * tangible value, fully equal to the figures at which they stand.




June 15, 1895. J

1057

THE CHRONICLE.

companies of Brooklyn, the control of which rests with the R ocke­

Balance Sheet—The balance sheet April 30,1895, was as fellers and H. H Rogers of the Standard Oil Company.
The signing by Governor Morton of the Wray Gas Bill, it is believed,
follows:
BALANCE SHEET APRIL 30, 1895.
Assets_
I Liabilities—
Permtnent investment. $3,723,795 |Bills & acc’ ts payable.. $323,639
Prepaidinsur.&disc’ts.
11,149 I Capital stock
4,000,000
C ash...............................
112,276 |Balanoe of undivided
B ills& acc’ts receivable
207,145 1 p r o fit s ........... . . / . . . .
-¿07,11»
_________
Merchandise & supplies 476,3911

Total......................... $4,530,759 |

Total......................... $4,530,759

Profits for the year were $210,462, from which $120,000
dividend due June 15 is to be deducted.
The Treas­
urer savs: When the reduction of the capital stock and
the consequent liquidation of the patent account is effected,
there will be $200,000 to add to profit and loss, making the
credit balance thereof $407,119. It will be seen from, the
above that the cash and cash assets exceed all liabilities by
$472,173 after providing $120,000 for the dividend. Since the
date to which this report is made, the company s liabilities
have been reduced more than $200,000.
Property o f Company—As regards the property the report
says: In order to give some idea of the extent of the
plant and the magnitude of the work, we beg to state:

removes the last obstacle in the way of consolidation in Brooklyn.
The bill applies to New York, Brooklyn and Buffalo. It authorizes
cities of the first class to make contracts for a period of years with
private corporations for their supply of gas.
Mayor Schleren of Brooklyn believed it would work well, and ap­
proved the measure. The consolidation under way in Brooklyn,
which will no doubt be brought about before January 1,1896, w ill
include the Citizens’, Fulton, Municipal, Union, Brooklyn, Peoples,
Nassau and Williamsburg companies, and its capital stook will be
about $23 000,000.

Brooklyn Qneens County & Suburban (Street) By.—
Earnings for the quarter ending March 31 have been reported
as follows. The trolley line strike in January and February,
1895, practically cut off all earnings for about three weeks of
the 1895 quarter. The increase in interest charges is for
bonds issued to trolley the line :
3 months
Gross
Net
Other
end. Mar,31— earnings, earnings, income,
1895................ $91,722
$1,461
$3,099
1894................ 90,863
7,793
265

The property consists of eight thoroughly equipped and sub­
stantially built mills, located at the following points: Houston,
Tex.; New Orleans (Gretna), La.; Montgomery, Ala.; Little Rook,
Ark.; Memphis, Tenn.; Atlanta, Ga.; Columbia, 8. C.; Savannah,
Ga. These have a total crushing capacity per 24 hours of 1,825 tons.
And five refineries located at Houston, New Orleans, Montgomery.
Little Rock and Memphis. These have a total refining capacity per 12
hours of 1,400 barrels. The company owns in the aggregate at the
various places named 258 acres of land, on which its buildings are
situated. This is exclusive of seed houses at shipping points in the
country. I f the buildings were closely abutted, they would reach
two and four-tenths miles; or, if compactly placed together, they
would completely cover 17"44 acres. The aggregate storage capacity
for seed is 69,300 tons; meal, 23,400 tons; hulls, 10,500'tons; linters,
3,840 bales, and tankage capacity for storing oil, 2,792,000 gallons,
or 67,600 barrels of 50 gallons each. The company have amp149 tankoars, whioh are earning from mileage alone a fair return on their cost,
besides greatly facilitating the disposition of the oil—Y. 60, p. 487.

Interest,
taxes, etc.
$82,949
58,990

Balance.
def. $78,389
def. 50,932

Loans and bills payable March 31, 1895, were $115,500;
profit and loss deficiency, $199,397. The company had $250,000 of its consols in the treasury.—V. 59, p. 1059.
Cambria Iron .—This company has issued a circular letter
to its stockholders of record June 8, offering them the priv­
ilege of subscribing at par to a new issue of 40,000 shares, or
$2,000,000, which will increase the capital of the company to
$7,000,000. Messrs. Drexel Sc Co. will purchase any portion
of the new issue not taken by the stockholders. _After the
entire amount of new stock has been subscribed it is the in­
tention of the Cambria Iron Company to make a stock divi­
dend of
per cent on the total capital stock of $7,000,000,
which will further increase the capital to $7,875,000. The
proceeds of the sale of the new stock are to pay for the re­
cent enlargement and improvement of the manufacturing
plant of the company at Johnstown, which were made to
meet the requirements o f its constantly growing business.
The Philadelphia Ledger says:

This company, whioh has one of the largest aud best equipped Iron
and steel manufacturing plants in the world, has bad an unprece­
dented life of prosperity. For 30 oonseoutive years it has regularly
GENERAL INVESTMENT NEWS.
paid dividends, and it did not suspend them at the time o f the
memorable Johnstown flood, nor during the depression of the
past three years. The company has no bonded debt and after
Allegheny Valley.—This railroad company gives notice the new stock has been paid up it will also be free of floating debt.
that on July 1, in addition to the payment of the coupon then The oompanywill then also have ample cash working capital. The
condition of the iron and steel trade has experienced a marked im­
due on its 7 3-10 per cent bonds, the bonds will be redeemed provement
within the past several months, and the Cambria Company
at $1,030 each on presentation with the unmatured coupons xias already booked contracts sufficient to keep every department
attached. The total issue is $4,000,000, maturing March 1, busy for months to come, while the outlook for future profitable busi­
ness was never brighter than it is now.
1896. See our advertising columns.—V. 60, p. 872.

American Bell Telephone.—At Boston June 12 the direc­
tors declared a regular dividend of 3 per cent and an extra
one of 1V<2 per cent, payable July 15. They also called a stock­
holders’ meeting for June 24 to act on a recommendation to
issue $1,000,000 additional stock. The outstanding capital is
now $20,500,000. The new stock must be offered to share­
holders at a price to be fixed by the Commissioner of Corpor­
ations, and any unsubscribed balance must be sold at auction.
V. 60, p. 926.
Atchison Topeka & Santa Fe.—The reorganization com­
mittee listed on the N. Y. Stock Exchange this week $118,444,000 certificates of deposit for general mortgage 4s; $4,860,500
certificates for second mortgage gold 4 per cent bonds, Class
B, of 1889; $71,931,500 certificates for second mortgage 4 per
cent gold bonds of 1989, Class A ; $87,888,200 certificates of
deposit for capital stock.—V. 60, p. 1007.
Baltimore & Washington Boulevard Electric.—Appar
rently progress is being made with the preliminaries for the
projected electric road between Baltimore and Washington.
Contracts for a construction of a part of the line were reported
let some weeks ago. Now a steam road, called the Catonsville
Short Line Railroad,
miles in length, which will be
made electric, is Btated to have been bought in the interests of
the new enterprise.
A press dispatch from Washington ou Thursday stated that
the Maryland capitalists who are pushing the enterprise have
obtained control o f the Eckington & Soldiers’ Home and the
Belt Line roads, thus securing entrance into Washington.
Regarding the construction of the road, the Manufacturers
Record says:
A special company Is being formed to construct the line, and will be
awarded the contract by tne companies which have secured fran­
chises and right of way—the Washington & Baltimore Boulevard Com
pany and the Columbia & Maryland Railway, chartered at the last
session of the Legislature. The president of the construction com­
pany, it is understood, is to be Mr Thomas M. Lanahan, an at
torney and capitalist at Baltimore, while Mr. W. Kesley Schoepf,
of Washington, manager of the Eckington & Soldiers Home Railway
Company, whioh is to form the Washington extension of the system
is to be general manager; Mr. E. D. Smith, the Philadelphia con
tractor, is also interested in the company. When it is stated that Mr
Smith does most of the Widener-Elkins syndicate s street railroad
work, and that Mr. Schoepf is the Washington representative of the
syndicate’s interest in that city, the significance^of their connection
with the construction company is apparent. This corporation will
probably be ready to begin work in the near future.

Bristol Ellzabethton& North Carolina.—This railway has
been sold at receiver’s sale to the Pennsylvania Steel Company
for $178,000. The road Is in operation from Bristol to Elizabethton, Tenn., a distance of 26 miles, and it is said will be
extended to Asheville, N. C.—V. 60, p. 432.
Brooklyn das Companies.—The New York Tribune says :
The entrance of Moore & Schley into the directory ’of the Nassau
Gas Company, at the election held a day or two ago, is regarded by
the gas interests as simply another step in the consolidation/)! the gas




Central Elevated (Chicago.) T The Central Elevated Rail­
road Company of Chicago was incorporated this week with
$7,500,000 capital stock. The incorporators and first Board
of Directors are Robert D. Shepard, E. Hamilton Hunt,
Dwight Lawrence, Seneca D. Kimbark and F. F. Donnell.
Regarding the enterprise a Chicago paper says :
This is the eompany projected several years ago to build a downtown
loop for the elevated roads. Now that the Union L ood Company has
failed to secure the consent of property owners on Wabash Avenue,
the newly-incorporated company will try its hand at the business. Its
scheme is to build through the alleys as much as possible. It will be
remembered that the elevated railroad people discarded this plan some
time ago, but discarded it because of the expense which it involved.
Central Railroad of Georgia—Savannah & Atlantic.—At

a meeting this week of Savannah & Atlantic bondholders, at
which $165,000 out of the $250,000 bonds were represented, it
was voted not to accept the proposition offered by the Central
of Georgia reorganization plan.—V. 60, p. 1008.
Central Railroad of Georgia—Savannah & Western.—At
a meeting of the committee representing the Savannah Sc
Western bonds held on the 11th of June, it was resolved
to reject the propositions made in the proposed plan
for the reorganization of the Central Railroad & Banking
Company of Georgia, offered through the Mercantile Trust
Co.—Y . 60, p. 1008.
Chicago Burlington & Quincy.—This company listed on
the N. Y. Stock Exchange this week $2,320,000 Chicago Sc
Iowa Division 5 per cent gold bonds of 1905. —V , 60, p. 928.
Chicago & Great Western.—The meeting referred to in
the C h r o n ic l e of May 25 duly authorized the issue of the
$2,000,000 debenture stock, which was acted upon a year ago,
but which it was found required further action before it could
be legally put out.—V. 60, p. 928.
Chicago St. Paul Minneapolis & Omaha.—This company
has agreed on terms of purchase o f the property and fran­
chise of the Superior Short Line Company, which latter com­
pany owns the lines and terminals in Superior and Duluth
that have been used by the Omaha Company hitherto. The
Superior Short Line is a proprietary company of the Omaha,
so that this transaction is simply an absorption by the parent
company. The Omaha has declared a semi-annual dividend
of 33^ per cent on its preferred stock.—V . 60, p. 389.
Chicago & North Western.—This company listed on the
New York Stock Exchange this week $2,009,000 additional 5
per cent debenture bonds, due Nov. 1, 1909, making the
amount listed $6,000,000. These include the bonds previously
reported sold.—V. 60, p. 1008.
Choctaw Oklahoma & Gulf.—This company announces
that the section of the new line between Oklahoma City and
Choctaw City—fourteen miles—has been opened for business.
Choctaw City is the nearest railroad station to the “ Kickapoo
Country,” just opened.—V. 60, p. 835.

1058

THE CHRONICLE.

Cleveland Cincinnati Chicago & St. Lonis. —President
IngalJs states that the Big Four trains will probably be run5™.* mto Louisville, K y „ over the track of the Baltimore &
Ohio {southwestern by July 1. He has agreed with President
Bacor», of the latter company, upon the terms of a contract
by which the Big Four trains will use the Balrimore & Ohio
Southwestern tracks from North Vernon to Jeffersonville, a
distance of 57 miles, but the details o f this agreement have
not been published, except that the Big Four company agrees
not to do any local business between the two points. The
Cleveland Cincinnati Chicago & St. Louis will now abandon
if. ProPosed parallel to extend its line into Louisville, for
which surveys had been made. It has ample terminal facili
ties in Louisville acquired during the past year and also con­
trols the bridge over the Ohio River from Jeffersonville to
Louisville.—Railroad Gazette.— V. 59, p. 1103.
Lorain & Wheeling.—This company listed on
the New York Stock Exchange this week $5,000,000 preferred
stock and $8,000,000 common stock.
The preferred stock is entitled to the payment of dividends
not exceeding 5 per cent in any year, non-cumulative, before
any dividend shall be paid upon the common stock, but is
not entitled to_ any further dividends in any year until divi­
dends amounting to 5 per cent have been declared and paid
upon the common stock in such year. After dividends have
been declared and paid upon tbe common stock aggregating
5 per cent in any one year, then both classes of stock participate equally in any division of the net earniDgs for such
year in excess of 5 per cent so paid upon the preferred and
common stock.—V. 60, p. 349.
Cleveland & Marietta.—This company listed on the N. Y.
Stock Exchange this week $1,250,000 first mortgage
per
cent guaranteed gold bonds of 1935.- V . 60, p. 873.
Colorado W yoming* Great Northern.—This railroad com­
pany has filed a mortgage to the Solicitors’ Loan & Trust
Co. of Philadelphia, as trustee, to secure $6,000,000 of 30
year 5 per gold bonds. These bonds are to be issued for the
purpose of building a road from Grand Junclion, Col., on the
Rio Grande Western and Denver & Rio Grande, northerly, to
Green River, W y., on the Union Pacific, with branches. The
mortgage is a first lien upon the entire property, including
the main line and branches and the Reck Cliff Railroad"',
which latter line from Grand Junction north for ten miles is
already constructed. Bonds to the amount of $500,000 it is
said are to be issued at once for the purchase of rails, etc.,
and the remaining bonds as each five miles of road is com­
pleted. A dispatch from Denver says that a construction
company has been organized to build tbe line, H. C. Woodworth of that city being President. M. Lipman of Philadelpma is Vice-President of the company and H. A. Woodworth
of Denver Secretary. A connecting line through Central
Wyoming is talked of.
Distilling & Cattle Feeding.—At Springfield, 111. on
Thursday, the Supreme Court affirmed the decision of the
Cook County Court, declaring the trust illegal. The opinion
is voluminous, containing forty-nine pages of closely typewntten manuscript, and goes fully into the details of the
case. The trust, the Court maintains, exceeded' its charter
by forming a combination to control prices rather than to
manufacture whiskey. In regard to the claim made by the
appellant that the surrendering and gathering in of stock o f
the different distilleries purged the trust of illegality, the
maiD^aiD8 that thi® 18 a false presumption. An Associa­
ted Press dispatch quotes the decision as follows :
scheme of Us U le^l?tV hetrU8t0ertlflCateS that ° an purge the trust
But it is urged that the defendant, by its charter, is authoiized to
purchase and own distillery property, and that there is no limit placed
i1!S0n/ be/ m0UIJ.t o f. property which it may thus acquire. By its cer­
tificate of organization it is auihorized to engage in a general distilling
business in Illinois and elsewhere, and to own the property ne<essarv
for that purpose. It should be remembered >hat grants of powers in
corporate charters are to be construed strictly, and what is not given
is by implication denied. The defendant is authorized to own such
property as is necessary for its business and no more. Its nower to
acquire and hold property is limited to lhat purpose.
In accumulating distillery properties in the manner and for the pur­
pose shown, the defendant has not only misused and abused the powb£ 118 c£.ai:ters, hut has usurped and exercised powers not
conferred by but winch are wholly foreign to that instrument. It has
thus rendered itself liable to prosecution by the State hy quo warranto’
and we are of the opinion that upon the.facts shown by the informa­
tion the judgment oi ouster is clearly warranted.

[V ol. LX,

Evansville & Richmond.—Evansville & Terre Haute.__
It is announced to holders of Evansville & Richmond Rail­
road bonds that the terms of settlement with the Evansville
& lerre Haute Railroad Company have been approved by
the directors and stockholders of the company, and have been
accepted by holders of $1,235,000 of Evansviile & Richmond
bonds.
The settlement is therefore declared operative.
Each bond of $1,000 will receive $850 in preferred stock or
the principal and $66 66 in preferred stock for accrued inter­
est to January 1, 1895. The preferred stock is now ready for
exchange at the office of Harvey Fisk & Sons.—V. 60, p. 967.
& Terre Hante.—This company listed on the
JN. Y. Stock Exchange this week $149,000 additional first gen­
eral mortgage 5 per cent fifty-year gold bonds, making the
amount listed $2,096,000.—V. 60, p. 967.

Grand Rapids & Indiana.— A committee consisting of
Messrs. James Brown Potter, Harry F. West and Moses L.
Scudder has been selected to represent the general mortgage
bonds of thiscompany.—Y. 60, p. 794.
Georgia Midland & G u lf—Notice is given to the holders
of the first mortgage bonds of this railroad company that the
bonds should be deposited in the Central Trust Company,
New York, on or before July 15, 1895, under the agreement
signed by three-fourths of the holders, in order to participate
in the reorganization which will take place upon the purchase
of the road. The road is to be sold under decree of the United
States Circuit Court, probably about the middle of August.
The notice is signed by R. A. Lancaster & Co., 10 Wall Street.
New York.
Illinois Central.—The earnings of this company are mak­
ing a handsome showing, as appears from T h e C h r o n ic l e ’ s
monthly returns and also from the statement recently fur­
nished the State of Illinois. The Chicago T ribun e o i June 9
gives the facts regarding this statement as follows:
Last Friday the Illinois Central Railroad Company forwarded to
u-ov. Altgeld the statement of the gross receipts of the company for
the six months ending A.pril 30. of which the share of the State of
Illm- is. 7 per cent, amotmts to $29 <,723. This is the largest sum ever
received by the; State from the Illinois Central for a n v line period, ex$302,890 paid the State for the period from Nov. 1,
t?1A p n - 3° * 1893- fh e gross receipts of the company, and conpercentage the State received therefrom, Rave invaria­
bly been larger from May 1 to Oet 30 than in the earlier half of the
year, except during the year 1894, when the earnings of' the company
were greatly reduced by the coal strikes and the Debs’ insurrection,
there is therefore every reason to expect that the ¡-tate’s receipts
will, during the current year, exceed $6o0,000, and be greater than in
any; pieceding year except 1893, when the World’s Fair brought the
State’s proportion up to $753,067.—V. 60, p. 928.

International & Great Northern.—This company listed on
the N. Y. Stock Exchange this week $119,000 additional third
mortgage 4 per cent gold bonds o f 1931, making the amount,
listed $2,696,000.- Y . 59, p. 1141.
Interior Conduit & Insulation.—This company listed on
the N. Y. Stock Exchange this week $500,000 6 per cent gold
debenture registered bonds; capital stock reduced to $1,000,000. The full statement to the New York Stock Exchange,
with earnings, balance sheet, etc., will be found on a subse­
quent page.—V. 60, p. 606.
Jarvis-Conklin.—The reorganization committee has issued
a circular letter suggesting a modification of the plan of reor­
ganization. This letter is given on a preceding page.—V. 59,
p. 3b4.
Kentucky Central Railway.—This company listed on the
N. Y. Stock Exchange this week $219,000 additional first mort­
gage 4 per cent gold bonds of 1987, making the amount listed
®6,742.000.
Listings on the New York Stock Exchange.—The listings
this week include securities of the following companies more
particularly described under statements for each : Atchison
Topeka & Santa Fe, Chicago Burlington & Quincy, Chicago &
North Western, Cleveland Loraiu & Wheeling, Cleveland &
Marietta, Evansville & Terre Haute, International & Great
Northern, Interior Conduit & Iosulatioo, Kentucky Central
(Louisville & Nashville System), Manhattan Elevated, Missouri
Kansas & Texas, Mobile & Ohio, Oregon & California, Rio
Gaande Southern, St. Louis & Iron Mountain (Missouri Paci­
fic System). Terminal RR. of St. Louis.—V. 60, p. 929.
Louisville * Nashville—Chesapeake Ohio & Southwest­

ern.—At Frankfort, Ky., the Court of Appeals on Thursday
Levy Maver, speaking for the reorganization stockholders affirmed the opinion o f Judge Fields, of Louisville, in the
of the Distilling & Cattle Feeding Company, is reported to case of the Commonwealth vs. the Louisville & Nashville
bave said:
Railroad. The suit was brought under the section of the
We have been anxiously waiting for this decision, and are highly Constitution prohibiting the purchase of parallel lines of rail­
pleased tuat it has come m the way of an affirmance. It removes ail
obstacles for tin reorganization committee and makes the matter of road, and was brought by the Commonwealth to restrain the
reorganization easy of accomplit-hment in a few days. The decision Louisville & Nashville from purchasing the Chesapeake Ohiomakes a sale of the property now in the hands of the Federal Court & Southwestern.—V. 60, pp. 655, 1008.
lmperatn e and inevitable. There can be no successful filibustering or
Lonfsville Railway.—Notice is given to holders of the Citi­
needless obstacles interposed to the sale of the property. Our petition
tor ju a id a i sale has been ready for several weeks and will be filed at zens’ Passenger Railway Company bonds, due Jan 1, 1896,
that up to September 1 next these bonds will be redeemed at
Attorney Burry, of counsel for the Greenhnt-Morris faction 101 and interest and the bonds of the Louisville City Railway
of the Whiskey Trust, said :
Company due July 1, 1897, up to the same date will be re­
,.Tb® decision v i 'l create a serious question as to the ownership of the deemed at 102 and interest, holders having the option to either
distilleries, especially the big on. s, at Peoria. Individuals own the receive cash for same or receive in exchange the Louisville
land on which the distilleries are built and the company owns the
plant. I think the leases run for twenty-five years and about six Railway Company 5 per cent gold bonds at their market
years nave elapsed, i do ro t know if there a» e renewal clauses in the price.
leases. If the court has held that the Distilling Company was an il­
Macon Dnblin & Savannah—Atlantic Short Line.—The
legal body from its formation, and that it acquired all these properties
m making an illegal combination, then it may be that the grounn leases sale of the Ailantic Short Line, formerly the Macon & A t­
are voidland the owners en iitled to immediate possession of the land lantic, has been postponed one month, to July 12, to take
on which the buildings are situated.—V. 60, p. 1009.
place at Savannah.—V. 60, p. 873.




J une 15, 1895.]

THE CHEONIOLE.

1059

North Am erican.—Chancellor McGill o f Jersey City on
Manhattan Railway.—This company listed on the N. Y.
Stock Exchange this week $8,925,000 Manhattan Elevated 4s, Thursday granted an order to-day directing the officials of
in place of New York Elevated bonds; also $900,000 issued for the North American Company to show cause in Newark on
other purposes. The total of the loan now listed is $22,973,- June 18 why the books of the company should not be shown
certain stockholders of the companv. it was claimed on be­
*000, all equally secured.—V. 60, p. 967.
half of the applicants that the affairs of the compauy have
Minneapolis & St. Louis.—This companv has declared its been mismanaged, and that they have been conducted in the
first dividend on the first preferred stock, 3% per cent, payable interests of Henry Villard.—V. 60, p. 929.
■July 15; this is for eight months, at the rate of 5 per cent per
Northern Pacific—Coeur d’ Alene.—The committee repre­
annum. The ob jact is to make the dividend dates January senting the first mortgage bondholders o f the Coeur d’Alene
and July, instead of May and November.—V . 60, p. 929.
Railway & Navigation Company has sent a circular to the
Missouri Kansas & Texas.—The St. Louis Globe-Democrat bondholders, stating that they expect to consummate an agree­
says that this company has awarded the contract for con­ ment with the Northern Pacific receivers by which the latter
struction of the Kansas Citv St. Louis extension from Wind­ will guarantee, on account of the coupons, one-half of the
sor to Holden, 42 miles. The work is to be completed m 100 amount payable in 1895, four-sixths of the amount payable in
1896, five-sixths of the amount payable in 1897 and the full
This company listed on the New York Stock Exchange this amount payable in 1898 and subsequent years. The coupons
week $50,000 additional first mortgage fifty-year 5 per cent of 1894 and the unpaid part of the coupons of 1895-6-7 are to
guaranteed gold bonds of 1942, making the amount listed be retained and paid by some future arrangement. The com­
$2,685,000, and also $330,000 first mortgage extension 5 per mittee says that a reorganization of the Northern Pacific and
Coeur d’Alene is expected within a year, and on such reor­
cent fifty-year gold bonds.—V. 60, p. 1010.
ganization the unpaid interest and the bonds, they hope, will
Missouri Pacific System—St. Louis Iron Mountain & be satisfactorily arranged for. Assenting securities are depos­
Southern.—The Iron Mountain company listed on the N. Y . ited with the Mercantile Trust.—V. 59, p. 1142.
■Stock Exchange this week $2,500,000 Arkansas Branch 5 per
Oregon & California.—This companv listed on the New
cent bonds, extended to June 1, 1935
York Stock Exchange this week $1,135,000 additional first
—At the special meetings of the stockholders on Wednesday mortgage 5 per cent guaranteed gold bonds, making the
the action of the directors with regard to funding the floating amount listed $18,842,000.—V. 58, p. 384.
debts of these companies into five-year 5 per cent gold collat­
Oregon Short Line & Utah Northern—Union Pacific.—
eral trust notes was duly authorized. The indentures secur­
ing these notes are to the Mercantile Trust Company and are At Salt Lake City, Utah, on Monday, Judge Merritt announced
understood to be for $8,000,000 in the case of the Missouri his decision on the application of the American L ran & Trust
Pacific and $4 000,000 in the case of the Iron Mountain.—Y . Company for a separate receiver of the Oregon Snort Line &
Utah Northern Railway Company. He issued an order ap­
60, p. 795.
pointing John M. Egan to act as associate^ receiver with W .
Mobile & Ohio.—This company listed on the N. Y . Stock H. Bancroft of the portion of the road within Utah Territory.
Exchange this week $1,608,000 general mortgage 4 par cent By the terms of the order the trust company is required to
bonds of 1938.—V. 60, p. 967.
pay on July 1 all interest in default on all the first mortgage
New Orleans & Southern.—At New Orleans, La., on June bonds, including the Utah Southern and Utah Southern Ex­
10, Joseph Price filed a suit in the United States Circuit Court tension first mortgage loans. On the matter of permitting
asking that a receiver be appointed as the railroad is insolv­ the receivers to issue receivers’ certificates, to be a lien on the
ent. The company owns sixty-five miles of railroad, and property subsequent to the first mortgage, the order was
has a mortgage indebtedness of about $1,250,000. The Cen­ silent; this was assumed to be equivalent to a refusal of per­
tral Trust Company of New York is trustee of the mortgage. mission, as such certificates cannot be issued and made a lien
on the property without a specific order of the Court. Judge
Newport News & Mississippi V alley Company.— The re- Merritt later, however, is reported to have said that he did
■ceiver of the Newport News & Mississippi Valley Company, not consider that he had refused permission, and intimated
organized for the purpose of leasing railroads, has been that if such a petition was now presented to him he would
authorized by Judge Prentice at New Haven to sell the fran­ grant it. It remains to be seen whether matters can be ar­
chise of the company.
ranged so that the consolidated mortgage bondholders will
Newport & Cincinnati Bridge.—This company has de­ consider it best to comply with the conditions and have their
cided to make a new mortgage, which will be dated July 1, receiver take possession.—V. 60, p. 1010.
Peoria Decatur & Evansville.— An order has been entered in
1895, and secure $1,500,000 of
per cent 50- vear bonds.
'Of these bonds $1,100,000 will be used to take up the present 7 the suit for foreclosure of the second mortgage, requiring the
per cent bonds, leaving $400,000 to be used for reconstruction. company to answer by the first Monday in July. This indi­
New stock for $1,500,000 will be issued, a portion of it in ex­ cates that foreclosure will be prosecuted to a decree and sale
change for the old preferred stock,, the old common stock to without unreasonable delay.—V. 60, p. 930.
be cancelled. In addition to the $400,000 in bonds there will
Pittsburg Akron & Western.—The sale of this road on
be provided from various sources an immediate fund for re­ Oct. 17, 1894, for $814,000 has bsen confirmed, the Court con­
newals of about $800,000. From the money thus raised the senting that the bid should be transferred to Senator Calvin
bridge will be reconstructed and, it is said, made one of the S. Brice, President of the Lake Erie& Western.— Y. 59, p. 880.
finest on the Ohio River. The plans call for a channel span
Providence & Springfield.—The stockholders of this rail­
fo r the new structure 510 feet long, as against 418 for old
span. The old piers will be supplanted by new ones and the road are understood to have generally accepted the offer good
June 12 of $90 per share for their stock. The purchase
Kentucky pier is to be built 100 feet south of the present one. until
is reported to have been made bv parties close to the^Naw
W ork has already begun.
York & New England reorganization committee, and it is said
New York & New Jersey Bridge.—The Secretary of War the s'ock will be turned over, probably at a reduced rental, to
has approved the general olans for a suspension bridge over the New York & New England when that road has been fully
the Hudson River, at New York, submitted by this company. reorganiz d. Interest on the $750,000 first mortgage bonds
—V. 60, p. 1010.
has never been in default.
Reorganization Plans, etc.—The following is an index to
New York New Haven & Hartford.—This railroad com ­
pany has awarded two large contracts for what is known as all defaults, foreclosure sales, reorganization plans, the names
the Jamaica Plain improvement at Boston, involving the of all reorganization committees, and all statements respecting
raising of tracks, the eliminating of grade crossings, and the the payment of overdue coupons, that have been published
construction of a fourth track into Boston. One contract was in the Chronicle since the April edition of the I nvestors
awarded to H. H. Brown, of New York City, for work amount­ S upplement was issued, all earlier facts of this nature being
ing to $540,000, the other to J. O’Brien, also of New York set forth in that publication. It does not, however, include
City, for $700,000. Similar contracts for work at Brock­ matter in to-day’s C h ron icle .
The folio wing abbreviations are used: Plan for reorganization
ton, Mass., have been awarded to Dwight & Daly, of Boston,
or readjustment plan ; coup, for coupon payments ; def. for
for $325,000—Railroad Gazette.—V. 60, p. 1010.
New York & New England.—The receivers of this railroad default; Com. for committee.
Volume 60.
Page.
Volume 60.
Page.
company on Thursday made application to the United States Atchison System
Milwaukee St R y ............... def. 929
—
Circuit Court at New York for leave to pay the interest on the
Do
do ..........pia». 1009
Colorado Midland.......coup. 747
do
do
........ Oom. 872 N. Y. Lake E. & West........ def. 968
first mortgage 6s and 7s due January 1 last. The Court
St. L. & San Fran....... coup. 1007 Norfolk & Western............Oom. 874
granted the petition, and a similar application was to be made Atlanta
& Florida.......... sale. 1007 Northern Adiroudack___ sale. 968
in the United States Court in Boston. The time limit on Jan­ Augusta & Knoxville...Com. 967 Northern'Paciflo..........plan. 930
uary interest expires on July 1, but the interest will be paid Cape Fear & Yadk. Val..Com.l008 Ohio Southern.................. Com. 874
Do
def. 1010
Chesapeake O. & S. W ..eoup. 1008
before that date.—V. 60, p. 1010.
Chicago <fc West M ich...coup 748 Oregon 8h. L. & U. Nor.cottp, 968
Peoria
Dec.
&
Evansv
Oom.
930
D
istilling*
C.
F
...............
def.
1009
New York Susquehanna & Western.—At a meeting yester­
South. & Fla__ plan. 928 8av. Amerious & Mont..plan 874
day afternoon Mr. Amos L Hopkins, formerly connected Georgia
Kan. Citv Water Works.coup. 9 ¿9 Tex. Louisiana & E ist ..sa/e.1010
with Wabash and Missouri Pacific, and at present receiver of Little Rock & Memphis..sate. 967 Toledo A. A. & N. M........ sale. 969
Union Paciflo..................coup. 969
the Chicago & Northern Pacific RR. Company, was elected Louisv. Evansv. & St. L..Com. 873 Un.
St. R «. (Dover, N. H )sale. 969
Do
do
coup. 967
President of this company, and arrangements were effected Marietta
U.
S. C ordage............... plan. 1012
& No. Ga.........saliA G09
for taking care of the floating debt, which has been under­
R io Grand« Southern.—This railroad company has listed
written. It has been current gossip that the control of
the property has been acquired by parties who are members on the New York Stock Exchange this week $3,416,000 first
o f the directories of the Delaware & Hudson, the Lackawanna mortgage 5 per cent gold bonds of 1940 (out of a total of
and the Jersey Central companies, but there is no confirmation $3,452,000 previously listed) which have assented to the
bondholders’ agreement of January 2, 4895, whereby it is
o f the report.—V. 60, p 1010.




1060

THE CHRONICLE.

agreed that the rate of interest on the bonds shall be reduced
to 3 per cent per annum for three years from the 1st of January, 1895, and thereafter to be at the rate of 4 per cent per
annum until the maturity o f the bonds. For the ten months
ending April 30, 1895, earnings as reported to the Stock E x­
change were as follows:
$334,15^

m,
.
$165,484

Interest.
$112,750

Taxes.
$29,000

Surplus.
$23,734

The interest above is calculated at 3 per cent on $4,510,000.

Standard Telephone.—In view o f the public interest in
this new enterprise we quote the following statements from
an advertisement signed by George W . Cross, who is endeav­
oring to obtain subscribers in Baltimore:
This company owns valuable telephone patents, particularly for
long distances, ana. rights of way and other privileges in the United
. states. Our telephones are superior to those of the Bell Company.
Successful tests havebeen made over practical resistances equivalent
to a distance of over 3,< 00 miles. The rent to be charged will below
enough to bring the telephones within easy reach of every store, shop
or office, and of every private family.
management of the business the company have sub­
divided the whole territory of the United States into sections of one
or more States and taken out charters for these sub-companies. The
stock of the sub-companies is fully paid up and non-assessable. The
board of directors of each sub-company consists of fifteen members,
and these boards are virtually branches of representatives of the
parent company, which is the oo-nartner in the business.
The parent company agrees to defend all patents in the courts. The
etate company’s business is the organizing of local companies through
its general manager and contractors.
There »re three improved telephones the patents for which are
owned or controlled by the Standard, as follows:
(1) A telephone transmitter and microphone transmitter, which
has the broad claim allowed in its patents of electric power of con­
veying speech on a wire.
(2) Metal contact telephone, which, up to date, is the greatest telephone transnuitter on earth, as oarbon is done away with.
(3) The Morse telegraph key or gravity transmitter, on which key
you can send Morse sounds, or you can use it to talk ou, as you choose.
The great practical value of this telephone is not a theory, but has
been abundantly demonstr ated.
In other words, we really have the three best telephones, the Morse
key, the Cole and the Rose, as well as other patents covering switch­
boards, etc., eto., none of whioh are infringements.
I am here to construct and operate the finest telephone system on
earth, connecting residences, business houses and offices with an interState system, including New York to San Francisco, at rates far below
any existing for local or long-distance service.

These statements indicate the advantages which are claimed
for the company’s proposed system.—V. 60, p. 607.

Savannah Americus & Montgomery.—The plan for reor­
ganizing this company was unanimously adopted on June 6
at a meeting of the reorganization committee. It was o f­
fered by John Skelton Williams and J. William Middendorf,
and has been underwritten to the amount of $1,675,000 by a
syndicate. Upon the retirement of the old securities, as
provided, and the issue of the new bonds, the total amount of
fixed charges on the whole 340 miles on the entire amount
of new securities issued and to be issued thereon will be as
follows: Interest on $2,040,000 first preference mortgage 5s,
$102,000 a year, $8,500 a month, $300 per mile; $3,060,000 first
consolidated mortgage 5s, $153,000 a year, $12,750 a month,
$450 per mile; total, $255,000 a year, $21,250 a month, $750
per mile. The plan was given in the Chronkble of May. 18.
page 874.—Y . 60, p. 930.
Sioux City & Northern.—At Sioux City la., June 9, the
ruling of Judge Shiras on. the petition o f intervention of the
Terminal Railroad & Warehouse Company in the Sioux City
& Northern Railway Company receivership case was filed.
Some months ago the Manhattan Trust Company, trustee for
the holders of $1,920,000 of first mortgage bonds, began pro­
ceedings for foreclosure. Soon afterward the Terminal Com­
pany put in a petition of intervention for $135,000, on the
ground that the foad had for a long time had the use of its
terminal facilities and was delinquent in its rent to that
amount. It asked that that claim be made a lien upon the
equipment prior to the first mortgage lien. The court holds
that the mortgage comes first. The case will likely be ap­
pealed.—V. 60, p. 131.
y
Southern Railway—Atlantic Coast Line.—It is under­
stood that the Southern Railway Company has made a traffic
contract with the Atlantic Coast Line by which an entrance
into Norfolk has been secured. In this way the Southern
gets to tidewater at Norfolk without building any new road
and at nominal expense. Recent purchases of valuable wharf
property in Portsmouth, which occupies the relative position
to Norfolk that Jersey City does to New York City, are said
to have been made by the Southern Railway Company at
very low figures.—V. 60, p. 1010.
Terminal Railroad Association o f St. Louis.—This com ­
pany listed on the N. Y . Stock Exchange this week $4,500,000
consolidated mortgage 5 per cent gold bonds of 1894-1944 —V
60, p. 930.
Western Union Telegraph.—The estimated revenue for
the quarter and the fiscal year ending June 30, 1895, com­
pared with actual results in 1894, have been reported as
follow s:
3 months
Net
end. June 30.
revenue,
1895 (estimated)...$1,600,000
1894 (actual).......... 1,455,073
12 months.
1894-5 (June est.)..$6,158,340
1893-4 (actual) . . . . 5,792,483

Interest <6
sink. fund.
$243,400
240,395
$973,498
971,606

Directors have declared the regular
payable July 15.—V. 60, p. 481.

I m p o r ts a n d Tloxtintew ts.
T H E IN T E R IO R C O N D U I T & I N S U L A T I O N
COM PANY.
APPLICATION TO THE NEW YORK STOCK EXCHANGE.
N e w Y obk , May 25,1895.
The Interior Conduit & Insulation Company, organized
under the laws of the State of New York, and doing business
in the City and County of New York, hereby applies for the
listing of its Six Per Cent Gold Debenture Bonds to the amount
of $500,000 par value, in registered bonds of $1,000 each, as
per specimen bond herewith submitted.
These bonds were issued April 1, 1895, are of a total author­
ization by the stockholders of $500,000, and are due April 1,
1925, and are payable in gold, principal and interest, interest
being payable October 1 and April 1 in each year by a check
mailed to last registered owner at closing of the bond boo ks.
They may be redeemed on any interest date prior to A p ril 1,
1900, at 105 and interest, and thereafter at any time at par,
on 21 days’ notice to last registered holder. It is provid ed in
the bond that in event of the company’s making or deliver­
ing any mortgage on its real estate and plant or property, the
holders of the debenture bonds shall have the right to surren­
der the same, and to receive first mortgage bonds in lieu
thereof to an equal amount in par value.
As stated to you in this company’s application for listing o f
stock, dated December 15, 1892, this corporation was organ­
ized and began business in January, 1890, and is engaged in
the manufacture of electrical conduits for the carrying of
electrical conductors and other distribution throughout build­
ings, technically known as wiring, using its own patented sys­
tem therefor, which is now in general use in all high-class
electrical installations. It also manufactures and sells elec­
trical fittings, electric motors, dynamos, heaters, stock quota­
tion instruments, and in general electrical appliances con­
nected with installation of electric lighting and power in
business establishments, factories and dwellings. The busi­
ness was established in 1889, and has since been in continuous
operation at its factories at Nos. 527, 529 and 531 West 34th
Street and 586 and 538 West 35th Street, which factories are
owned by the company, and are equipped with the best and
most modern plant and machinery for its requirements.
The company, besides owning and controlling patents re­
lating to its electric conduit and distributive system, also
owns valuable patents and patent contracts, covering new
motor and dynamo machines, which are of great value, and
the manufacturing of which is a source of large and con­
stantly increasing revenue to the company.
The company issued the above-named $500,000 debenture
bonds by offering to its stockholders the privilege of subscrip­
tion therefor at par, and in order to reduce its capital stock,
as agreed upon by a majority of the stockholders, from
$1,250,000 to $1,000,000, accepted from each stockholder his
pro rata thereof, together with a cash payment of $375 for
each $1,000 par value o f bonds. The stockholders very gen­
erally took their rights under this option, the remnant being
taken by a guaranty syndicate made*up o f some of the larger
stockholders in the company, and, as per notice from the
Central Trust Company, Registrar of the stock, $250,000 of
same have been returned to the company and canceled by it,
and the Central Trust Company, and the capital stock now
stands at $1,000,000.
The balance sheet of the company at latest date, May 1,
1895, stands as follows :
Inabilities.
Capital stock.....................................
$1,000,000 00
Gold debenture six per cent bonds,
500,000 OO
Mortgage on real estate...............................
75,000 00
Open accounts for supplies.................................[$30,32173
Bilis payable........................................................... 21,84907
Sundries....................
5,094 50
57,265 30
Accrued interest on bonds. . ..........................
2,500 OO
Reserve account.......................................... "*
2,422 77
Surplus account..................................................92,881 57
Accrued profits.. . . ........................... . ........ 12,940 14
105,821 71
Total....................................................
Assets.
Real estate, buildings and plant............
Patent rights, contracts, etc..................
Stock and materials on band..................
Customers’ accounts...............................
Bills receivable..... .....................
Cash on hand_______ _____
Treasury stock..................... . . [ [ » .!! [ ]

$1,742,489 78
$360,030 31
960,755 47
209,541 74
128,388 50
50,691 99
32,016 77
1,065 OO

T o t a l . . . . . . . . . . . . . . . . ......................................................... $1,742,489 78

This company has paid no dividends, having retained its
net earnings for the past four years for working capital and
the extension of the business. It has no debt of any kind,
save these bonds and $75,000 purchase money mortgage on its
Balance, factory, real estate and buildings, carrying 5 per cent inter­
Dividends.
surplus. est, and liabilities on current monthly accounts for supplies.
(l^ ) $1,191,940 $164,660
The earnings of the company have been as follows :
(II4) 1,185,037
29,641
(5) $4,767,731
(5) 4,740,063

$417,111
80,814

per cent dividend,

0 T F o r oth er Investm ent Item s see p a se 1 0 6 1 .




[V ol. LX.

1892.
1893.
1894.
G r o s s ....,.................................. $356,061 06 $473,652 15 $534,712 34
Cost of manufacture and generai expenses......................... 279,838 02 377,001 48
432,943 49
Net p rofit................... ............
76,223 04
96,650 67
101,768 95

The Board of Directors elected January 17, 1895, consists
of Allen O. Bakewell, Henry Steers, Edw. H. Johnson, New

J une 15, 1895.]

Y o rk ; Carl Schurz, Pocantico Hills, N. Y .; John Markle,
Yeddo, Penn.; Josiah C. Reiff, New Y o rk ; Coe D. Tows,
Washington, D. C.; Edwin T. Greenfield, Everett W . Little,
New York.
_ ,
The officers o f the company are: Edward H. Johnson,
President; Everett W. Little, Vice-President and General
Manager ; Chas. P. Geddes, Secretary and Treasurer; Robert
Lundell, Electrician.
,
The transfer offices are at the company s offices, No. 537
West 34th Street, and bonds are registered and counter­
signed by the New York Guarantee & Indemnity Company.
Respectfully submitted,
E d w . H. J o h n so n , President.
C h a s . P. G e d d e s , Treasurer.
This Committee recommends that the above described $500,000 Six per Cent Gold Debenture Bonds of 1925, issued in reg­
istered form only, of $1,000 each, be admitted to the list.
Adopted by the Governing Committee, June 12, 1895._______

Toledo Ann Arbor & North Michigan.—It is reported
that an appeal has been granted as regards the sale o f this
road, which was ordered by the United States Circuit Court
of Ohio to take place on July 2.—V. 60, p, 969.
Union Pacific.—The President has appointed ex-Representative W. J. Coombs of Brooklyn to be a Government
director of the Union Pacific Railroad.—V. 60, p. 1010.
United States Cordage.—A Protective Committee of the
bondholders of this company has been formed, composed of
Dumont Clarke, of the American Exchange National Bank;
R. M. Gallaway, of the Merchants’ National Bank; Stuyvesant
Fish, of the National Park Bank; Ebenezer S. Mason, of the
Bank of New York; Charles A . Vialle, of the National Bank
of the Republic, Boston; and George Ripley, of the Hide &
Leather National Bank of Boston. John H. Rathbone of No.
21 Broad Street is Secretary of the committee, and Burrill,
Zabriskie & Burrill Counsel. In a circular issued on Tuesday
it is said: The committee invite bondholders to deposit their
bonds with the Farmers’ Loan & Trust Company, who will
issue negotiable receipts. The committee itself represents a
large number of first mortgage bonds.
Mr. Dumont Clarke said on the subject: “ We do not want
the Protective Committee to be considered as antagonistic to
the Reorganization Committee and its plaD, if the plan is
found to be all right. Our intention in organizing is to
make a thorough investigation, to see how the various losses
have occurred and what the present situation of the company
is. If the business cannot be run successfully, why supply fur­
ther funds? If it can be run successfully, we shall feel dis­
posed to put more money into it. There are expenses in mak­
ing an investigation, and we shall ask other bondholders to
help meet these expenses. The committee themselves repre­
sent about $600,000 of the Cordage bonds.”
—President F. K. Sturgis has prepared a statement explana­
tory of the company’s embarrassment. In it he lays special
stress on the fact that by the terms of the reorganization
plan of the National Cordage Company his company was cut
off for the year 1894 from its most profitable line of business
—the making of binder twine—and was further charged with
the duty of selling about 18,000 tons of twine held by bank­
ers as security for debts of the National Cordage.
—At a meeting this week of a number of the security holders
of the company at the office of Robert L. Niles, 66 Broadway,
a resolution was passed instructing the Chairman, Mr. Niles,
to appoint a committee of five to be known as a temporary
committee of inquiry. This committee is to obtain all the
information possible regarding the company’s affairs, past
and present, and to report to a meeting to be called hereafter.
A contribution toward the expenses of the inquiry will be
asked at the rate of 50 cents for each bond, $4 on every 100
shares of guaranteed stock, $2 on every 100 shares of pre­
ferred stock and $1 on every 100 shares of common stock.
Only those who contribute will be entitled to participate in
whatever benefits may arise from the work of the committee.
—Judge Ingraham of the Supreme Court on Tuesday granted
permission to the receivers to borrow not more than $200,000
on their note, payable not more than three months afterdate,
for use in the purchase of raw material and other expenses of
carrying on the business. The repayment of the loans are to
be secured by pledging any personal property o f the company
and by selling or assigning any accounts receivable represent­
ing the proceeds of the sale of such goods manufactured by
the company. The receivers say that the raw material, manu­
factured goods and accounts which were hypothecated by the
company prior to the appointment of the receivers, as collat­
eral for loans made to it, were between $500,000 and $600,000
in excess of the loans, and they expect to sell manufactured
product of between $400,000 and $500,000 during the present
month, provided they can obtain the loans for the purchase
of raw material. The sales of the company during May
amounted to about $420,000, most of which was assigned to
secure loans.
—In view of the erroneous impression that appears to exist in
certain quarters relative to the use to be made o f the proceeds
o f the new first mortgage bonds to be issued by the reorgan­
ized Cordage Company, attention is called to the fact that the
plan of reorganization provides that the proceeds of those
bonds are to be applied to the payment of the prior liens upon
property of the present company, and the balance for working capital.—V. 60, p. 1010.




1061

THE CHRONICLE.

3£ke C u m r a m m l 3£troes.
COMMERCIAL

EPITOME.

F r id a y N i g h t , June 14,1895,

A satisfactory movement of seasonable commodities is re­
ported, and general trade conditions are of a healthy char­
acter. Previously existing labor difficulties have in nearly
all cases become adjusted and additional instances of manu­
facturers making voluntary advances in wages are recorded.
The monthly report from Agricultural Department upon con­
dition of staple crops was of somewhat more favorable tenor
than generally anticipated and served to curb speculative in­
vestment. Supplies, however, have been very well held and
absence of pressure to realize prevented important reaction
in values. Latest information at hand conveys an impression
o f improved growing weather over a considerable portion of
the cotton belt; winter-wheat prospects variable but slightly
more assuring on the average; spring wheat maintaining
favorable conditions. Corn is in need of moisture in central
latitudes, but as a whole the crop appears to be making good
progress. Export trade in grain has been fair, and milling
orders are more promising at the close. There is marked im­
provement in iron and metal trades.
For lard on the spot the demand has continued slow and
prices have made a slight further decline, closing easy at
6’700. for prime Western, 6’15c. for prime City and 7‘05c. for
refined for the Continent. There was no speculation in the
local market for lard futures but prices weakened a few
points in response to dull and easier advices from the West,
closing easy.
D A IL Y

CLOSING PRICES OP LARD FUTURES.

Sat.

Mon.

Tv.es.

Wed.

Ihurs.

Fri,

June..................
..o. ....
6*80
6'75 6’70
....
....
July ........................ O. 6'90 6-95
6*90 6*85
6*87 6*87
September__ 1.............o. 7-10 7*15
7-10 7*05
7*07 7*07
For pork the demand has not shown any improvement but
prices have held steady, closing at $13 50@$14 25 for mess,
$13@$15 50 for short clear and $13@$13 50 for family. Cut
meats have had a limited call and prices have ruled steady,
closing at 5 ^ @ 6 ^ c . for pickled bellies, 12@10 lbs. average,
5 ^ c. for pickled shoulders and 9@9%c. for pickled hams.
Beef has been quiet, closing at $8 for mess, $9@$10 for packet,
$U@$13 for family and $17@$18 50 for extra India
mess. Beef hams have been dull, closing at $19. Tallow has
weakened a trifle, closing at 4%c. Lard stearine has been
quoted nominally at 8%c. Oleo scearine has declined, closing
easy at 7 ^ c . asked. Cotton seed oil has been easier for yel­
low, closing an 23@24c. for prime crude and 27c. for prime
yellow. Butter has been fairly active, but the close was
rather slow at 12@18c. for creamery. Cheese has been in fair
demand and steady, closing at 5j^@ 7^c. for State factory,
full cream. Fresh eggs have declined, closing at 12%@13c.
for prime Western.
Coffee has been steadily held but met with irregular de­
mand and best attention given mild grades. Rio No. 7 quoted
at 16c. for flat bean, good Cucuta at 19^c. and standard Java
at 27@27^c. Speculation for future delivery continued mod­
erate and careful, and during greater portion of the week the
tone was easy, finally closing heavy under effort to liquidate
long holdings.
The following were the final asking prices:
June .......... ...........I Sept.................14*40o. i Deo ................. 14*40o.
July............... 13*35c. Oot.................. 14*45e. Jan......... ........14*35o
Aug...............14*40o I Nov................. 14*45o. I March............. 14*25e,
Raw sugars have been fairly active, but in consequence
of desire to realize upon landing parcels and save storage
charges sellers granted fractional concessions. Centrifugal
quoted at 3 5-16c. for 96-degrees test and muscovado at 2%c.
for 89-degrees test. Refined sugars sold slowly at unchanged
prices; granulated quoted at 4%c. Teas dull and easy;
spices steady.
For Kentucky tobacco there has been less inquiry but prices
have been without change and steady; sales 200 hhds. Early
in the week the demand for seed leaf tobacco was quiet, but
later there was a better inquiry and prices were steaiv; sales
for the week were 1,250 cases, including 200 cases 1894 crop,
New England Havana, private terms; 150 cases 1893 crop.
New England Havana, 4@10c ; 50 cases 1893 crop, New Eng­
land seed leaf, 10@13^c.; 150 cases 1893 crop, Pennsylvania
Havana, 9 ^ @ 11c.; 150 cases 1892 crop, Pennsylvania seed
leaf, 9 @ llc .; 100 cases 1892 crop, New England Havana, 16@
35c., &c.; also 1,000 bales Havana, 65c.@$l 05, and 250 bales
Sumatra, 30c. @$2 85 in bond.
Speculation in the market for Straits tin has been quiet and
prices have been somewhat unsettled, closing easy at 14*10c.,
or unchanged from last week’s price. Ingot copper has made
a slight advance and the close was steady at 10*55@10 65c. for
Lake. Lead has been steady, closing unchanged at 3*30@
3*32J^c. for domestic. Spelter has declined, and the close was
dull at 3*70c. for domestic. Pig iron has been fairly active
and firm, closing at $10@$12 50 for domestic.
Refined petroleum has been steady, closing dull at 7 65c. in
bbls., 5*15c. in bulk and 8o. in cases; crude in barrels has been
nominal; naphtha, 9c. Crude certificates have advanced,
closing at $l*56^c. bid. Spirits turpentine has been in better
demand and steadier, closing at 29J^c @39%c. Rosins have
been steady, closing at $1 52^@$1 57^ for common to good
strained. W ool has been quiet but steady. Hops have been
, dull but steadily held.

1062

THE CHRONICLE

IV ol . LX,

in addition to above exports, our telegrams to-night also
give us the following amounts o f cotton on shipboard, not
cleared, at the ports named. W e add similar figures for
T he Movement of the Crop , as indicated by our telegram, New York, which are prepared for our special use by Messrs,
from the South to-night, is given below. For the week ending Lambert & Barrows, Produce Exchange Building.
this evening the total receipts have reached 15,527 bales,
against 19.829 bales last week and 29,020 bales the previous
O N S H IP B O A R D , N O T C L E A R E D — F O R
week, making the total receipts since the 1st o f Sept., 1894.
Leaving
June 14 at—
Other Coast­
Great
Stock.
7,816,758 bales, against 5,858,782 bales for the same period of
Total.
Britain. France. Foreign wise.
1893-4, showing an increase since Sep.l, 1894, of 1,957,976 bales.
C O T T O N .
F r id a y N ig h t , June 14, 1895.

Receipts at—

Sat.

Galveston........
Yelasoo, & c ....
New Orleans..
M obile..............
Florida.............
Savannah. . . . . .
Brunsw’k.&o.
Charleston.......
Pt. Boyal, &o.
W ilm ington....
Wash’ton, &o.
Norfolk.............
West P oin t...
N’port N., &o.
New Y ork........
Boston'.............
Baltim ore........
Phlladelph’ a &c

Mon.

164

Tues.

56

Wed.

19

Fri.

Thurs.

48

484

21
1,102

550
9

1,199
13

116
83

480
5

780

334

338

482

1,018

......
19

8

5

...
2

9

771
89
2,477
1,216
9
3,170
72
43

89
111
4
9
218
72
5

...... ...... __

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

Total.

...... ...... ...... ... ......
...... ...... ......
1
5
9
...... ...... ...... .... ...... ......
606

371

406

467

1,023

749

15

104

7

34

1,528
207
174

608

622

3,964
328
1,462
15.527

...
19
188 ...... ...... ......
...... ...... ...... ...... ...... 174
...... ...... ...... ... ...... ....
3

139

25

33

521

492
328
741

3,162

2,509

2,942

1,492

3,140

2,282

...

Tot’ls this week

...... ...

•••■«a .....a

The following shows the week's total receipts, the total since
Sept. 1,1894. and the stock to-night, compared with last vear
Receipts to
June 14.

1894-95.
This Since Sep.
Week. 1,1894.

1893-94.
This Since Sep.
Week. 1,1893.

G alveston...
Velasco, <fto.
New Orleans
Mobile___
F lorida ...
Savannah
Br’ wiok,&o
Charleston..
P.Royal,&o.
Wilmington..
Wasn’n, <feo
N orfolk. . . . .
West Point
N’p’tN.,&o
New Y ork ...
B o sto n ........
Baltim ore...
Philadel.,&o.

771 1,651.096
89
73,750
2,477 2,564,460
1,216 237,422
25,382
9
3,170 935,941
72 152,748
43 427,121
157,213
15 234,279
928
1,528 469,175
207 285,758
174
42,192
137,062
3,961 159,082]
328 ll7,773j
1,46 2| 145,376;

1,487 1,001,184
912
41,455
7,122 1,845,349
182 198,966
9
35,129
5,241 954,612
96,693
127 337,621
989
78,802
77 189,458
499
343 487,084
366 237,803
116
61,075
70,379
585
98,883
387
59,679
870
64,071

15,527 7,816,758' 18,813 5,858.782

T otals.......

Stock.
1895.

1894.

12,257

15,636

126,174
10,094
•a—-a
19,086
2,411
19,998

85,633
8,111
14,581
1,554
19,349

10,280

3,112

19,566
846
2
219,254
6,2 )0
10,881
12,832

19,301
750
445
202,345
6 0 (0
9,465
7,710

469 911

393.992

In order that comparison may be made with other years, we
Receipts at—

1895.

1894

1 1893.

1892.

1891.

1890.

Qalves’n,<fto.
New Orleans
M obile........
Savannah...
Char’ton,&o.
Wilm’ton.&o
N orfolk.......
W. Point, dec.
All others...

860
2,477
1,216
3,170
48
15
1,523
381
5,832

2,399]
7,122:
132
5,2 41 j
1,116
77|
313
432'
l,85l|

2,613
9,230
140
3,774
917
185
1,229
639
2,144

927
11,597
730
4,646
556
280
2,800
1,144
2,314

2,393
4,924
347
3,02 5
1,544
265
1,785
2,171
4,167

33
1,398
39
134
203
14
13
60
953

Tot. this wk.

15,527

18,813]

20,876

25,494

20,621

3,347

Since Sept. 1 7816,753 5858,7824951,278 7013,20616831,337 5774,645

New Orleans...
G alveston......
Savannah... . . .
Charleston.....
M obile_______
Norfolk .........
New Y o rk ......
Other ports....

6,218
3,290
None.
None.
2,000
1,500
3,600
5,000

Total 1895...

21,608

Total 1894...
Total 1893...

12,215
18,477

162
None.
None.
None.
None.
None.
500
None.

1,973
1,290
None.
None.
None.
None.
8,300
3,000

867
233
None.
None.
None.
1,500
None.
None.

9,220
4,013
None.
None.
2,000
3.000
12,400
8.000

662

14,563

2 600

39,433

430,478

364 12,456
7,758 21,045

9,246
4.718

34,281
51,998

359,711
367,553

116,954
7,444
19.086
19,998
8,094
16,566
206,854
35,482

Speculation in cotton for future delivery at this market was
o f limited character and confiaed principally to local opera tors. The outside trading element appears unwilling to engag
in further investment, and at the moment a feeling prevail *
that the indicated reduction in yield as shown by various re cently published estimates may possibly have been discounted
by previous advance in prise. Some disappointment is ex­
pressed over the slow buying of both domestic and foreign
spinners. Saturday’s market was held steady in absence of
offerings and closed at small net gain. On Monday the
opening was lower, but upon receipt of statement from A gri­
cultural Department showing reduction of 14 8 per cent in
acreage and about 7 per cent decrease in condition the
tone strengthened slightly and gave 2 points net
gain for the day. Tuesday’s cable advices indicated that
Liverpool found no stimulus in the exhibit made by our Gov­
ernment Bureau report and this market droppid 5 points, but
recovered on some covering orders. On Wednesday there
was a decline of 9@10 points, with slight recovery, the mar­
ket moving sluggishly ifor want of orders and absence of inter­
est among local traders, with much the same general condi­
tions prevailing yesterday, closing at 5 points net loss. To­
day the tone was unsettled, but the close was tame at about 5
points net loss. Cotton on the spot slow at 7>4'c. for mid­
dling uplands.
The total sales for forward delivery for the week are 630,100
bales. For immediate delivery the total sales foot up this week
3,349 bales, including 1,592 for export, 1,657 for consumption,
— for speculation and 100 on contract. The following are
the official quotations for each day of the past week—
June 8 to June 14.
Bates on and off middling, as established Nov. 22, 1893,
by the Revision Committee, at which grades other than
middling may be delivered on contract:
Fair ................................ o. 1 4 on.
Middling Fair. ............... 4 on.
Striot Good Middling....... 4 on.
Good M iddling..... . 7 ..... 516 on.
Striot Low Middling........ s18 off.
Low Middling ................... 7,8 off.
8triot Good O rdinary..... lSieoff.

Good O r d in a r y ..........o .
Good Middling T in ged...
Striot Middling Stained..
Middling Stained.............
Striot Low Mid. Stained..
Low Middling Stained,...

1*8 off
Even*
782 oft]
7ie oft
2933 oft’
13s oft'

On this basis the prices for a few of the grades would be a s
follows:
UPLANDS.

S a t.

M o il T u e s W e d

Th,

F it.

Good O rdinary..................... .
Low Middling........ . . . . . . . . . . . .
Middling.....................................
Good Midi lin g ..........................
Middling Fair.............................

6is
¿13,0
74
79l6
84

64
613x0
74
7»ie
84

64
613x6
74
7»16
84

64
613x0
74
7®16
84

M on Tues W ed

Th.

F r i.

64
64
64
71ie 7116 7 i1fi
74
74
74
7 i3ie 713,6 713j,
84
84
84

64
71x6
74
71816
84

64
7I16
74
713ie
84

GULF.

S a t.

Good Ordinary.......................
Low M iddling.................. .
M iddling....................... ............
Good M iddling.................
Middling F a ir ...........................

64
7116
74
7^3x6
83e

64
613l6
74
79tfl
84

64
613x6
74
7>
84

STAINED.
j S a t. |M o n T u e s W e d T h . F r i .
m i
K
^
tjuvuug tins evening reacn. a total
or 47,683 bales, o f which 29,873 were to Great Britain, 3,544 Low M iddling................... .
54
4
54
54
54
54
to France and 14,231 to the rest of the Continent. Below ar* Middling.................................. . 5613x6
61»x0 613X8 613j6 6)3x6 613ie

from—

Week Ending June 14
From Sept. 1, 1894. to Jun e 14 1895
Exported to—
Exporte t to —
Great
Conti- Total Great
Brit’n. France nent. Week. Britain. France nent.
lotal.




694
55
3,144

8,6S3

694
55
18,694

8,683
691

409

299
3,243 10,082
6,699
1,586 1,588

807,157 212,413
870,319
89,245
63,132
74,745
254,585
55,044
141,084
70,871
33 371
447,387
278,825
105,081
53,039

480,266
27,180
18,791
4,160

3,544 14,261 47,683 3,343,905

71S2
74

713a
74

713*
74

74

7I32
74

71S2
74

MARKET AND SALES.

The total sales o f cotton on the spot and for future delivery
each day during the week are indicated in the following
324,389 1,843.959
ß-' 7"0 57,759 uatement. For the convenience of the reader we also add
681,876 1,992.481 a column which shows at a glance how the market closed on
31,120 120.385 same days.

447,085
28,649
222,28 5
133,232
44,225
36,287

40,039

273 935

7,155

155,907
19,569

II
II

Galveston......
Velasco, Ac....
New Orleans.. 15,550
Mobile A Pen.
Savannah......
Brunswick.....,
Charleston*..,
Wilmington...
Norfolk..........
691
west Point...,
N’p’t News, Ac
209
New York...... 6,439
Boston........... 6,899
Baltimore......
Phlladelp’a ...
Total.......... 29,878
Total. 1893-94. 13 609

Striot M iddling............... ........
Good Middling Tinged.............

537,377
103,394
495,662
197,436
185.309
107,156
83 371
761,381

,vrAo-.o
288,143
77,608

2.443.876 6,557,765
11 15,498 23,616l2,798,2l0l582 235 1,619 0Î4 4,999,579

SALES O F SPOT AN D CON TRACT.
SPOT M A RK ET
CLOSED.

Sat’d a y. Qui et & steady..
Monday Steady ...............
Tuesday Q uiet.................
Wed’day Q uiet.................
Thur’d’y Q uiet.................
Friday.. Easy...................
Total.

Ex­
port.

Con- Spec- Con­
sump. ut'Vn tract. Total.

5*9*2

367

1,000

2*5*0
307
733

1,592

1,657

io o

■

. .. .

100

Sales of
Futures,

1,25*0
307
733

65.600
134,900
115,300
94.600
88,300
131,400

3,349

630,100

1,05*9

liiE d ales and F riges OF FUTURES are shown by tb e
following comprehensive table,

THE CHRONICLE,

J un e 15, 18Í 5 ~\

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118,000 234,000 265,000 220,000
Liverpool s to ck ....................
London stock .......... .
7,000
7,000
6,000
9,000
Continental s to ck s .....____. . .
85,200
157,100 127,300 174,800
India afloat for Europe........
216,000 170,000 155,000 260,000
17,000
33,000
48,000
28,000
Egyr«, Brazil, <fto., afloat........
Total East India, &c.......... 443,200 601,100 601,300 691,800
Total Amerioan....................3,111,555 2,512,990 2,582,273 2,926,875
Total visible supply.......... 3,554,755 3,114,090 3 ,1 8 3 / 73 3,618,675
Middling Upland, Liverpool..
3i3Jfed.
4tied.
4^.
43i<,d,
Middling Upland, New Y ork..
7iio.
75jao.
S fp c.
7*ae.
Egypt Good Brown, Liverpool
d^d.
5d.
5^1 ed.
S^d.
Peruv. Rough Good, Liverpool
55sd.
5Hied.
65gd.
Broach Fine, Liverpool..........
3l8ied.
43,, d.
4^ d.
4li(,d.
Tinnevelly Good, L iverpool..
33jd.
378d.
43gd.
Aijed.
T he im p orts in to C on tin en ta l p orts th e p a st w e e k h a v e
been 67,000 bales.
T he a b ov e figu res in d ica te an in crea se in th e c o tto n in e i g l t
to-n igh t o f 440,665 bales as com p a red w ith th e sam e date
o f 1894, an in crea se o f 371,182 bales o v e r th e corre sp o n d in g
date o f 1893 a n d a decrease o f 63,920 bales fr o m 1892,

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T h e fo llo w in g e x ch a n g e s h a v e been m a d e d u rin g th e w e e k :
11 pd. to exch. 500 Sept, for Deo.
•06 pd. to exch. 500 Aug. for Oct.
•17 pd. to exch. 1,100 Aug. for Jan.

T h e V is ib l e S u p p l y o f C o t t o n to -n ig h t, as m a d e u p b y ca b le
a n d telegra ph is as fo llo w s . T h e C on tin en ta l s to ck s , as w ell as
th ose f o r G reat B rita in a n d th e afloat are th is w e e k ’s return s
a n d co n se q u e n tly a ll th e E u ropean figures a re b ro u g h t dow n
to T h u rsd a y e v e n in g . B u t t o m a k e th e tota ls th e co m p le te
figures fo r to -n ig h t (Ju n e 14), w e a d d th e ite m o f e x p o rts from
the U n ited States, in clu d in g in it th e e x p o rts o f F r id a y on ly




CD
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* Includes sales iu September, for September, 28,100; SeptemberOctober, for October. 229,600; Septemoer-November, for November,
413,600; September-Deoember, for December, 1.162.01'; SeptemberJanuary, for January, 3,175,3 • ; September-Februarv, for February,
901.90U; September-March, for March, 4,373 l*» ; September-April,
for April, 620.20«; September-May, for May, 4,554,5 n .
900 Julv for Jan.
900 July for Aug.
200 Aug. for Oct.
300 July for Aug.

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•29 pd. to exch.
•03 pd. to exch.
■07 pd. to exch.
•04 pd. to exch.

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1995.
1894.
1893
1892
Stock at Liverpool........bales. 1,627,000 1,508,000 1,520,000 1,624,000
Stock at L o n d o n ...............
7,000
7,000
6,000
9,000
Total Great Britain stock. 1,634,000 1,515,000 1,526,000 1,633,000
3took at Hamburg....................
30,000
28,000
16,000
3,500
Stock at Bremen....................... 305,000
173,000 163,000 138,000
3toek at Am sterdam...............
17,000
14,000
18,000
26,000
Stock at Rotterdam..................
200
100
300
300
Stock at A n t w e r p ..............
15,Ooo
16,000
10,000
8,000
Stock at Havre.......................... 446,000
417,000 390,000 434,000
'5 ,0 0 0
7,000
7,000
8,000
Stock at Marseilles........ .
Stock at Barcelona..........
105,000
87,000 109,000
98,000
Stock at G e n o a ..................
59,000
16,000
20,000
18,000
Stock at Trieste.......................
20,000
30,000
22,000
31,000
Total Continental stocks.- 1,002,200 788,100 755,300 764,800
Total European stocks . . . . 2,63«,200 2,3<»3,100 2,281,300 2,397,800
Indiaootton afloat for Europe. 216,000 170,000 155,000 260,000
Amer.ootrt’n afloat for Europe. 135,000 110,000 104,000 129,000
Egypt,Brazil,&o.,afltforE’r’pe
17,000
33.000
48,000
28,000
Stock in United States ports.. 469,911 393,992 419,551 597,873
Stock in U. S. interior tow ns..
76,155
fc9,932 166,902 204,922
Ubited States exports to-day.
4,489
4,016
8,820
1,170
Total visible supply.......... 3,554,755 3,114,090 3,183,573 3,618,765
Of the above, totals of American and other descriptions are as follow 6:
yyi^.t'xcfXYi,—
Liverpool stock.. . . . . . ..bales. 1,509,000 1,274,000 1,255,000 1,404,000
Continental stocks................
917,000 631,000 628,000 590,000
American afloat for E urope... 135,000 110,000 104,000 129,000
United States stock.................. 469,911 393,992 4 >9,551 597,783
United Statesinteriorstoexs..
76,155
99,982 166,902 204,922
United States exports to-aay.
4,489
4,016
8,820
1,170
Total American.................. 3,111,555 2,512,990 2,582,273 2,926,875
East Indian, B razil, die. —

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OOQDbO®M©QCtSenWM<l©ie'<l©M<lOO|P-QObOW©©©®M©W©
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bOM

b o M to

acMOibO

© © 1 -3

W -4 M ta ;

M b S ie M

-^lp.c»M^Jcr<^©MMMoo-^#-M®©<^©©<^':lMW>-,; i^Oboacn
ie-<i © if. © m mm ©oo -a w w©~4© © w® © ww bow© ©ao-icn©

M
M
M M
; bOM WWMM
bO
^MM
Vi '© m m m ' bolo ©Td^oV« to itkw bo©Vi oo©7(i bol^ oc m <i © m
bOCDWOOtO®: ©OOWMMCJ,|fk^©Mlf.®©OOCDMOO©^OOl^MMa
WC0t3©MW. ©WOifrW©W©CWWb3©>-‘ W©©ObOOOW©M©
* Louisville figures “ net” in hoth years.

8-s-I

i f
Mg-

T he a b o v e tota ls s h o w th a t th e in terior s to ck s h a v e d ecreased
lu r in g th e w eek 10,266 bales a n d are n o w 23,827 bales less
than at sam e p eriod last yea r. T h e receip ts at a ll th e to w n s
have been 3,073 bales less than sam e w eek last year a nd since
Sept. 1 are 1,822,330 bales m ore th a n f o r sa m e tim e in 1893-94*

1064

THE CHRONICLE

[ V o l . LX.

Q u o t a t io n s f o r M id d l in g C o t t o n a t O t h e r M a r k e t s . —
W eather R eports b y Telegraph . —Advices to us by tele­
BaJow we give closing quotations of middling cotton at South­
graph
this evening denote that in a few sections of Texas there
ern and other principal cotton markets for each day o f the w eek.
has been rather too much rain the past week. In the re­
CLOSING QUOTATIONS FOB MIDDLING COTTON ONmainder of the cotton belt, however, the precipitation has
June 14
Fri.
Satur.
Mon.
Tues.
Wednes. Thurs.
been light as a rule, and moisture is needed in portions of
Galveston...
6is18 Tennessee. A number of our correspondents report that the
678
678
678
67a
678
6i6ie
New Orleans
7
7
7
7
61s18
crop is improving. Cotton is blooming in the southern por­
Mobile..........
678
67s
67s
6 7a
67e
67s
Savannah...
6%
6%
6%
6\
6%
tion of Texas.
65s
Charleston..
6«8
6®8
668
6®8
658
Galveston, lexa s.—Rain has fallen lightly on three days of
Wilmington.
6^
678
678
67a
6 78
678
N orfo lk ......
6%
6%
6%
6%
the week, the precipitation reaching seven hundredths
6%
6H
B oston........
714
714
7H
714
714
714
of an inch. The thermometer has averaged 83, ranging from
Baltim ore...
7316
7316
73le
73le
73ie
7316
74 to 90.
Philadelphia
71«
71«
7*«
71«
71«
7716
Palestine, lexa s.—Rain has fallen on three days of the
Augusta___
7
7
7
7
7
7
6l5ia
61B16
M em phis....
6i5ie
61618
6l5ie
615j6
week, the precipitation reaching two inches and twelve hun­
St. L ouis. . . .
678
6 7s
678
678
678
67s
dredths. The thermometer has ranged from 62 to 92, averag­
6is18
H o u sto n ....
678
678
678
678
678
ing 77.
Cincinnati..
71«
718
7^8
7 1«
7*8
718
Louisville...
71«
7 1«
718
Huntsville, Texas.—W e have had rain on four days of the
7*8
7*8
7%
The closing quotations to-day (Friday) at other important week, the rainfall reaching three inches and seventy-one
hundredths. Average thermometer 77, highest 90 and low­
Southern markets were as follows.
est 64.
Atlanta..........
6
61« Little R ook ....
618 Newberry.......
Dallas, lex a s.—Cotton is blooming over the southern por­
Columbus, Ga.
6% Raleigh..........
6 78
6'ia Montgomery...
tions of the State. Boll worms are said to be damaging the
6 1« Nashville........
7
Columbus, Miss
67s Selma..............
Eufaula..........
61« Natchez.........
6% Shreveport....
6718 crop slightly in a few localities in the western part of the
R e c e ip t s f r o m t h e P l a n t a t io n s . —The following table coast district. Some re-planting is going on where the con­
indicates the actual movement each week from the plantations. tinuous rains caused grass and weeds to kill off cotton. The
The figures do not include overland receipts nor Southern weather is now favorable for cotton, which needs work.
consumption; they are simply a statement of the weekly There has been rain on three days during the week, the pre­
movement from the plantations o f that part of the crop which cipitation reaching one inch and twenty-two hundredths. The
finally reaches the market through the outports.
thermometer has averaged 77, the highest being 94 and the
lowest 60.
Week
Receipts at the Ports. St’k at Interior Towns. Rec’ptsfrom Plant’ns
San Antonio, Texas.—W e have had showers on two days of
, Binding—
the week, the precipitation reaching twenty-seven hundredths
1893. 1894. 1895. 1893. 1894. 1895. 1893. 1894. 1 1895.
of an inch. The thermometer has averaged 80, ranging from
May 10...... 80,150 27,850 41,900 243,086 155,917 148,553 14,033 12,831 24,475 70 to 90.
”
17....... 32,625 21,604 30.565 229,525 147,049 137,322 19,064 12,736 19,334
Luling, Texas.—It has rained on two days of the week, the
“
24....... 25,359 21,602 29,065 213,479 134,495 114,859 9,313 9,048 6,602
rainfall being fifty-two hundredths of an inch. The ther­
“ 31...... 25,586 12,208 29,020 201,857 123,963 101,628 13,964 1,676 15,789
June 7 ....... 25,296 18.697 19,829 187,899 112,131 86,421 11,338 6,865 4,622 mometer has ranged from 64 to 92, averaging 78.
Columbia, Texas.—W e have had rain on one day of the
“
14
20,876 18,813 15,527 166,902 99.982 76,155
6,664 5,261
week, with a precipitation of one inch and sixty hundredths.
The above statement shows: 1.—That the total receipts from Average thermometer 80, highest 90 and lowest 70.
the plantations since Sept. 1, 1894, are 7,835,578 bales; if'
Cuero, Texas.—There has been rain on four days of the
1893-94 were 5,882,598 bales; in 1892-93 were 4,989,546 bales.
week, the rainfall reaching sixty-three hundredths of an inch.
2.—That although the receipts at the outports the past wee t The thermometer has averaged 80, the highest being 92 and
were 15,527 bales, the actual movement from plantations was the lowest 68.
only 5,261 bales, the balance being taken from the stocks ai
Brenham, Texas.—Telegram not received.
the interior towns. Last year the receipts from the plantations
Belton, Texas.—We have had rain on three days during the
for the week were 6,664 bales and for 1893 they were week, to the extent of three inches and thirty hundredths.
----- bales.
The thermometer has ranged from 64 to 96, averaging 80.
O v e r l a n d M o v e m en t f o r t h e W e e k a n d s in c e S e p t . 1.—
Fort Worth, lexa s.—Rainfall for the week fifty-three hun­
We give below a statement showing the overland movement dredths of an inch, on three days. Average thermometer 77,
for the week and since September 1. As the returns reach us highest 94 and lowest 60.
by telegraph late Friday night it is impossible to enter so
Weatherford, Texas.—It has rained on four days of the
largely into detail as in our regular monthly report, but all week, the precipitation reaching forty-two hundredths of an
the principal matters of interest are given. This weekly inch. The thermometer has averaged 77, the highest being
publication is o f course supplementary to the more extended 94 and the lowest 60.
monthly statements. The results for the week ending June 14
New Orleans, Louisiana.—Rain has fallen on three days of
and since Sept, 1 in the last two years are as follows:
the week to the extent of two inches and forty-four hun­
dredths. The thermometer has averaged 79.
1894-95.
1893-94
Shreveport, Louisiana.—W e have had rain on each day of
June 14.
Since
the week, the precipitation being one inch and fifty-nine hun­
Week. Sept. 1.
Week. Sept
dredths. The thermometer has ranged from 65 to 91, aver­
aging 78.
Shipped—
Columbus, Mississippi.—It has rained on four days of the
4,260 918,404
Via St. L o u is ....... . . . . . . . . . . . . .
2,817 t600,318
Via Cairo......................................
1,455 229,273 week, the rainfall reaching one inch and one hundredth.
1,848 331,772
Via H a n n ib a l..... . . . . . . . . . . . . . .
545
13,733 Average thermometer 82, highest 98, lowest 60.
Via Evansville_________ ______
3,817
7,369
Leland, Mississippi.—There has been rain during the week
Via Louisville________ _______
293 188,202
Ì.792 123,998
Via Cincinnati...______ _______
345 176,047
607 103,342 to the extent of one inch and ninety-seven hundredths. The
Via other routes, &o____ _____
783 137,744
694 125,716 thermometer has averaged 74'9, the highest being 86 and the
7,529 1,756,531
7,365 1,203,749 lowest 61.
Meridian, Mississippi.—Crops are late and grassy. W e are
Deduct shipments—
5,751 559,293
Overland to N. Y., Boston, & o..
1,842 293,017 having too much rain. The thermometer has averaged 76,
Between inteiior towns.______
3
30,499
107
21,843 ranging from 65 to 88.
Inland, &c..’ from South.______
74,185
229
923 100,149
Little Bock, Arkansas.—W e have had light showers on
Total to be deducted _____ _
5,983 663,977
2,872 415,009 three days of the past week, the precipitation reaching fortynine hundredths of an inch. The thermometer has ranged
Leaving total net overland*..
1,546 1,092,554
4,493 788,740
from 63 to 88, averaging 77.
* Including movement by rail to Canada.
Helena, Arkansas.—There has been one shower during the
The foregoing shows that the week’s net overland movement week, the rainfall being fifty-five hundredths o f an inch.
this year has been 1,546 bales, against 4,493 bales for the In the neighborhood the rainfall has been heavier. Crops
week in 1894, and that for the season to date the aggregate net have improved. Average thermometer 79, highest 92 and
Overland exhibits an excess over a vear ago of 303,814 bales.
lowest 66.
Memphis, Tennessee.—Crop condition is depreciating on ac­
1894-95.
1893-94
In Sight and Spinners?
count of the drought. It has been dry and hot all the week
Takings.
Since
1Sine
with the exception of light rain on Saturday last. The rain­
Week. Sept. 1. Week. Sept, \
fall reached thirteen hundredths of an inch. The thermom­
Receipts at ports to June 14........ 15,527 7,816,758 18,813 5,858,782 eter has averaged 78*9, the highest being 94 and the lowest
4,493 788,740 60-3.
Net overland to June 14.......... .
1,546 1,092,554
Southern consumption to June 14 10,000 659,000
8,000 611,000
Nashville, Tennessee.—The week’s rainfall has been two
Total marketed........................ 27,073 9,568,312 31,306 7,258,522 inches. The thermometer has averaged 77, ranging from 58
18,820 *12,149
Interior stocks in excess. . . . . . . . . *10,266
23,816 to 92.
Mobile, Alabama.—Crop reports are favorable. W e have
Came into sight during week. 16,807
19,157
9,587,132
Total in signt June 14........ .
7,282,338 had rain on three days of the week, to the extent of thirtythree hundredths of an inch. The thermometer has ranged
1,979,908 21,357 1,480,668 from 68 to 92, averaging 79.
North’n spinners tak’gs to J’ne 14
k_* Decrease during week.
Montgomery, Alabama.—Crops are doing well. The weather
It will be seen by the above that there has come into sight has been hot and dry all the week, with the exception of
during the week 16,807 bales, against 19,157 bales fo the showers on two days, the precipitation from which reached
same week of 1894, and that the increase in hmount in sight thirteen hundredths o f an inch. Average thermometer 80,
to-night as compared with last year is 2,304,794 bales.
highest 90 and lowest 71.




Selma, Alabama.—There has been rain on two days of the
week, the precipitation reaching twenty-seven hundredths of
an inch. Farm work is progressing finely and crops are doing
well. The thermometer has averaged 79, the highest being 89
and the lowest 67.
Madison, Florida.—W e have had rain on one day of the
week, to the extent of*ten hundredths of an inch. The ther­
mometer has averaged 77, ranging from 61 to 90,
Columbus, Georgia.—It has been dry all the week. The
thermometer has ranged from 70 to 90, averaging 81.
Savannah, Georgia.—W e have had rain on three days of
the week, the rainfall reaching ninety-four hundredths of an
inch. Average thermometer 76, highest 90, lowest 62.
Augusta, Georgia.—There has been rain on two days of the
week, the precipitation reaching eight hundredths of an inch.
The thermometer has averaged 75, the highest being 88 and
the lowest 59.
Albany, Georgia.—Cotton is improving, but the crop is late
and plant small. Rain has fallen on two days of the week to
the extent of ninety-two hundredths of an inch. The ther­
mometer has averaged 81, ranging from 69 to 93.
Charleston, South Carolina.—We have had rain on one day
during the week, the rainfall reaching twenty-six hundredths
o f an inch. The thermometer has ranged from 64 to 86, aver­
aging 75.
,
Stateburg, South Carolina.—Crops are doing well. It has
rained on three days of the week, the precipitation being
seventy-two hundredths o f an inch. Average thermometer,
72*1; highest 86 and lowest 59.
Wilson, North Carolina.—Rain has fallen on two days of
the week, the rainfall reaching eight hundredths of an inch.
The thermometer has averaged 74, ranging from 60 to 88.
Greenwood, South Carolina.—Telegram not received.
The following statement we have also received by telegraph
showing the height of the rivers at the points named a<
8 o’clock June 13. 1895. and June 14. 1894.

New Orleans............. .. Above zero of gauge.
Memphis.................... .. Above zero of gauge.
Nashville.................... .. Above zero of gauge.
Shreveport ............... ..Above zero of gauge.
Vicksburg................. ..Above zero of gauge.

June 13, ’95. June 14. '94.
feet.
Feet.
10-4
39
14-3
48
22
4'4
7*8
47
24-1
9-3

J ute B utts , B agg in g , & c .— The demand for jute bagging
during the week under review has been decidedly slack, but
prices have apparently been maintained at 4 ^ c. for 1% lbs.,
4J^c. for 2 lbs. and 4%c. for standard grades in a jobbing
way. Car-load lots of standard brands are quoted at 4J^c. for
1% lbs., 4%c. for 2 lbs. and 5c. for 2J^ lbs. f. o. b. at Now
York. Jute butts are dull at lj^c. for paper quality, l ^ c
for mixing and l% c. for bagging quality.
I n d ia Cotton Movement F rom a l l P orts . —The receipts
and shipments of cotton at Bombay have been as follows for
the week and year, bringing the figures down to June 13.
B O M B A Y R E C E IP T S AN D S H IP M E N T S F O R F O U R Y B V R S .

Shipment» this week. Shipment» since Sept. 1.
Great Conti­
Year Great Conti­
Total.
Brit’n. nent. Total. Britain nent.
’ 94-5 ........ 16,000
10,000
’ 93-4
’ 92-3
30.000
’ 91-2 1.Ò0Ò 12.000

16,000
10,000
30.000
13.000

24.000
44.000
38.000
67.000

414.000
714.000
736.000
761.000

Recetpu
This
Since
Week. Sept. I.

438.000
758.000
774.000
828.000

49,000
45 000
51 000
60 000

1.390.000
1.636.000
1,603,00«
1.606.000

According to the foregoing Bombay appears to show
an increase compared with last year in the week’s receipts of
4,000 bales and an increase in shipments of 6,000 bales, and
the shipments since Sept. 1 show a decrease of 320,000 bales.
The movement at Calcutta, Madras, and other India ports for
the last reported week and since the 1st o f September, for two
vears, has been as follows. “ Other ports” cover Ceylon,
Tuticorin, Kurrachee and Coconada.
Shipments for the week.
Great
Britain.
Calcutta—
1894-95...
1893-94...
Madras—
1894-95...
1893-94...
All others—
1894-95...
1893-94...

Conti­
nent.

Shipments since Sept
Great
Britain. Continent.

Total.

......

--W-

1065

THE CHRONICLE

J une 15, 1895. j

2,000

__

......

2,000
3,000

4,000
2.000

2,000

6,000
5,000

Totat

6,000
20,000

22,000
61,000

28,000
81,000

6.000
23,000

10,000
17,000

16,001
40,000

18,000
28,000

73,000
59,000

91.00
87,000

A l e x a n d r i a RECEIPTS a n d S h i p m e n t s . —Through arrangements we have made with Messrs. Davies, Benachi & Co., of
Liverpool and Alexandria, we now receive a weekly cable of
the movements o f cotton at Alexandria, Egypt. The following
are the receipts and shipments for the past week and for the
corresponding week of the previous tw o years.

Alexandria, Egypt,
June 12.
Receipts (cantars*)....
This w eek ....
Since Sept. 1.

Exports (bales)—
To Liverpool. . . . . . . .
To Continent....... .

1894-95.

1893-94.

1892-93.

4,534,000
This
Since
week. Sept. 1.

3,000
4,962,000
This
Since
week. Sept. 1.

1,000
5,130,000
Since
This
week. Sept. 1.

2,000 265.000
6,000 328.000

5.000 297.000 3,000 290.000
9.000 276.000 10,000 308.000

Total E u ro p e ...... 8,000 593,000 14,000 573,000 13,000 598,000
* A cantar is 98 pounds.

This statement shows that the receipts for the week ending
June 12 were ----- cantars and the shipments to all Europe
S,')00 bales.
Manch ester M a r k e t . —Our report received by cable to­
night from Manchester states that the market is quiet for
both yarns and shirtings. Demand for home trade is good,
but for foreign markets poor. W e give the prices for to-day
below and leave those for previous weeks of this and last
year for comparison:
1894.

1895.
82« Cop.
Twist.
My 10
« 17
“ 24
“ 31
J’ne 7
» 14

8*4 lbs.
Shirtings.

1
i
5*8 »6*8
511x6 »6»e
5\ 06^v
M316a6ifl
513,6 06 is
513x6 »61«

s.
4
4
4

d
s.
2 ®6
2ifl9A
3 96
4 3 i«9 6
4 31« 06
4 3 96

a
2
3
3
4
4
3h>

Oott’n
Mid. 32« Cap.
Twist.
TTpldt
d.
d.
d.
3*8 63x6»71«
323<,2 ........... Hoi
32> 6 9 6 78
3 7e 61,6 06 78
3*8 618 0615,6
31*16 «lg 9615,«

8H lbs.
Shirtings.

Oott’n
Mid.
Upldi

4 lOifl 96 10

a
31*16

410 96
4 10 9 6
4 101«06
4 IOI3 »6

4
4^16
41,6
41,«

9
9
9
9

A gr icu ltu ral D epartment ’ s R eport on A c r e a g e .—The
Agricultural Department at Washington issued on the 10th
inst. its report on cotton condition and acreage. The follow ­
ing is what it says on the subject of acreage:
The result of tlie special investigation made by the Department of
Agriculture in 720 ootton-growiug counties shows that in 88 there will
he little or no change in acreage as compared with last y e a r; 5 report
an increase of 10 per cent and less, 2 an increase of from 11 to 20 per
cent, 3 au ino ease of from 21 to 30 par cent and 3 an inorease of over
30 per cent, 127 a deorease of 10 p -r cent and less, 250 a decrease of
from 11 to 20 per cent, 158 a decrease of from 21 co 30 per oeat, 44 a
decrease of from 31 to40 per cent, 7 a decrease of from 41 to 50 per
cent and 33 a deorease of over 50 per cent.
t
The consolidated returns of reports to the statistical division for the
mouth of June show the State percentages of acreage as compared
with last year as follow s: North Carolina 81, South Carolina 84,
Georgia 35, Florida 95, Alabama 89, Mississippi 88, Louisiana 87,
Texas 85, Arkansas 80, Tennessee 81, Missouri 75, Indian Territory
91, Oklahoma 90, Virginia 73. The average for the United States 85*2,
a reduction of 14*8 per cent upon the revised aoreage for 1894 given
out iu May.

The following is the report of the Department on condition:
The average conditiou of the crop for June, 1 is as follows: North
Carolina 61, South Carolina 72, Georgia 8e, Florida 92, Alabama 85,
Mississippi 88, Louisiana 85, Texas 79, Arkansas 89, Tennessee 87,
Missouri 89, Indian Territory aud Oklahoma 70, Virginia 67. The
general average for the country 81, against 88*3 last year and 85 6 in
1893.

The above statement of condition, compared with the re­
ports for previous years, is as follows1
A G R IC U L T U R A L D E P A R T M E N T ’ S JU N E CO N D IT IO N R E P O R T S .

*1
June
Condition, L895. 1894. 1893. 1892. 1891. 1890. 1889. 1888. 1887. 1886
84
78
80
88
83
85
90
95
92
79

99
98
99
98
99
99
97
91
98
97

97
83
83
97
87
88
85
96
83
99

Average. 81-0 88’3 85-6 85-9 85*7 88-8 86 4 88’2 9 6 9

88-7

No. C ar....
80. Car___
Georgia...
Florida___
Alabama..
Mississippi
Louisiana.
Arkansas..
Tennessee.

E uropean

61
72
82
92
85
88
85
79
89
87

84
83
76
92
88
91
95
94
97
78

83
88
87
98
82
86
87
82
89
92

88
91
87
89
91
91
82
81
75
90

95
80
80
90
89
88
88
91
89
73

C otton C onsumption

98
97
94
92
93
85
84
84
85
87

to

86
88
92
94
92
90
88
80
94
92

J une 1.—W e have

received to-day by cable Mr. Ellison’s cotton figures brought
down to June 1. The revised totals for last year have also
30,000
105,000
135,000 been received and we give them for comparison. Spinners
6,000
2,000
4,000
137,000
71,000
4.000
7,000
203,OOP
3.000
takings in actual bales and pounds have been as follows:
The above totals for the week show that the movement from
the ports other than Bombay is 1,000 bales less than the same
Total.
Great Britain. Continent.
October 1 to June 1.
week last year. For the whole of India, therefore, the total
F o r 1 8 9 4 -9 5 .
shipments since September 1,1894, and for the corresponding
3,199,000
5,632,000
2,433,000
Takings by spinners. ..balss
periods of the two previous years, are as follows:
Total all—
1894-95...
1893-94...

EXPORTS TO EUROPE FROM ALL INDIA.

1894-95

1893-94.

1892-93.

Shipments
to alt Europe
from —

This
week.

Since
Sept. 1.

Bombay. ........
All other ports.

16,000
6,000

438.000 10,000
7,000
135.000

758.000 30,000
1,000
208.000

Total.. . . . .

22,000

573,000 17,000

966,000 31,000 4906,000




This
week.

Since
Sept. 1.

This
week.

Since
Sept. 1.
774.000
132.000

483
492*1
504
Average weight of bales.lbs
Takings In pounds................ 1,226,232,000 1,545,117,000 2,771,349,000

F o r 1 8 9 3 -9 4 .
5,459,000
3,084,000
2,375,000
Takings by spinners...bales
470*1
464
478
Average weight of bales.lbs.
Takings In pounds................. 1,135,273,000 1,431,101,000 2,566,374,000

According to the above, the average weignt of the deliveries
in Great Britain is 504 pounds per bale this season, against

106

THE CHRONICLE.

478 pounds during the same time last season. The Continental
deliveries average 483 pounds against 464 pounds last year,
and for the whole of Europe the deliveries average 492’1
pounds per bale against 470*1 pounds last season.
Our
dispatch also gives the full movement for this year and las t
year In bales of 400 pounds.
Oct. 1 to June I.
Bale» o f 400 lbs. each,
000« omitted.

Oreat Conti­
Britain. nent.

Oreat Conti­ Total
Britain. nent.

Total.

Spinners’ stock O o tl.
Takings In October...

50,
381,

348,
289,

398,
670,

68,
316,

258,
285,

326,
601,

Total supply.........
Consump. Oct., 4 wks.

431,
328,

637,
392,

1,068,
720,

384,
320,

543,
356,

927
676

Spinners’ stock Nov. 1
Takings in November.

103,
364,

245,
577,

348,
941,

64,
326,

187,
388,

251
714,

Total supply........
Oonsump. Nov., 4 wks.

467,
328,

822,
392,

1,289,
720,

390,
320,

575,
356,

965
676

Spinners’ stock Deo. 1
Takings in Deoember.

139,
384,

430,
634,

569,
1,018,

70,
403,

219,
545,

289,
948

Total supply........
Consump. Deo., 5 wks.

523,
410,

1,064,
490,

1,587,
900,

473,
400,

764,
445,

1,237,
845

Spinners’ stock Jan. 1
Takings in January..

113,
364,

574,
496,

687,
860,

73,
394,

319,
488,

392,
882,

Total supply........
Oonsump. Jan., 4 wks.

477,
328,

1,070,
392,

1,547,
720,

467,
320,

807,
372,

1,274,
692,

Spinners’ stock Feb. 1
Takings in February.

149,
351,

678,
443,

827,
794,

147,
351,

435,
443,

582,
794,

Total supply........
Oonsump. Feb., 4 wks.

800,
323,

1,121,
392,

1,621,
720,

498,
320,

878.
372,

1,376.
692

Spinners’ stock Fb. 28
Takings in March.......

172,
509,

729,
520,

901,
1,029,

178,
435,

506,
454,

684,
889.

Total supply........
Consump. Mar., 5 wks

681,
410,

1,249,
490,

1,930,
900,

613,
400,

960,
465,

1,573,
865,

Spinners’ stock Apr. 1
Takings in April........

271,
344,

759,
406,

1,030,
750,

213,
293,

495,
459,

708,
752,

Total supply........
Consump. Apr., 4 wks.

615,
328,

1,165,
392,

1,780.
720,

506,
320,

954,
372,

Spinners’ stock May 1
Takings in May..........

287,
369,

773,
498,

1,060,
867,

186.
320,

582,
515,

Total supply........
Consump. May, 5 wks

656,
410,

1.271,
490,

1,927,
900,

506,
400,

1,097,
465,

Spinners’ stock June 1

246,

781.

1,027,

106.

632,

*

1894-95.

Oreat Conti­
Britatn nent.

1893-94.
Total.

Oreat
Britain

Conti­
nent.

Total

Spinners’ stock Oct. 1.
50,
Takings to June 1 .... 3,066.

348.
3,863

393,
6,929

68
2,838

258
326
3.577, 6.415

Supply......................... 3,116,
Oonsumpt’n 35 weeks. 2,087,

4,211,
3,430.

7,327,
6,300

2,906
2.800,

3,835 6,741,
3.203. 6,003,

Spinners’ stock J’ne 1

246

781

1,027

106

632

738

Weekly Consumption.
00« omitted.
In October.............
In November.........
In D ecem ber..........
In January.............
In February..........
In M arch............ .
In April.................. .
In May....................

82,0
82,0
82,0
82,0
82,0
82,0
82,0
82.0

98.0
98,0
98,0
98,0
98,0
98,0
98,0
98.0

180.o
180,0
180,0
180,0
180,0
180,0
180,0
180.0

80.0
80,0
80,0
80,0
80,0
80,0
80,0
80.0

89.0
89,0
89,0
93,0
93,0
93,0
93,0
93.0

169.0
169 0
169,0
173,0
173,0
173.0
173.0
173,0

The foregoing shows that the weekly consumption is no w
180.000 bales of 400 pounds each, against 173,000 bales o f like
weights at the corresponding time last year. The total
spinners’ stocks in G ri t Britain and on the Continent have
increased 38,O0O bales during the month and are now
289.000 bales greater than at the' same date last year.
Sea I sland Cotton Movement .— We have received this
(Friday) evening by telegraph from the various ports the
details of the Sea Island cotton movement for the week. The
receipts for the week ending to-night (June 14) and sim e
Sept. 1, 1894, the stocks to-night, and the same items for the
corresponding periods of 1893-94, are as follows.
1894-95.
Receipts to June 14.
Savannah............... ........
Charleston........................
Florida, A c .....................
T otal.... . . . . . . . . . . . . . .




1893-94.

This
Since
This
Since
week. Sept. 1. week. Sept. 1.
4 64,237
5
5,303
5,139

....

9 74,679

3 54,162
2,210
3,561

....

3 59,933

Week Ending June 14 Since Sept. 1,1894. North'n Mills.
Oreat Fr'nce
Oreat Fr'nce
Since
Brit’n. dkC. Total. Brit’n. dtc. Total. Week. Sept. 1.

Savannah...
Charl’ t’n,<fec
Florida, &o.
New York..
Boston. . . . .
Baltimore..

106
........

Total........

106

Total 1893-4

100

10

18,085 2,441 20,526
2,913
53 2,966
765
765
4,343 3,118 7,461
8,463
8,463
"Ì0 6
391
391

46 29,157
1,413
4,172

106 34,960 5,612 40,572

46 34,742

110 32,250 4,427 36,677

28 22,170

A considerable portion of the Sea Island cotton shipped to
foreign ports goes via New York, and some small amounts via
Boston and Baltimore, Instead of including this cotton fo r
the week in which it leaves the Southern outports, we follow
the same plan as in our regular table of including it when
actually exported from New York, &c. The details of the
shipments of Sea Island cotton for the week will be found
under the head “ Shipping News,” on a subsequent page.
Quotations June 14 at Savannah, for Floridas, common*
8c.; medium fine, llj^ c .; choice, I5 ^ c.
Charleston, Carolinas, nominal.
Comparative F ort R eceipts

and

D a il y C rop Movem ent

—A comparison o f the port movement by weeks is not
accurate as the weeks in diifeient years do not end on the
same day o f the month. W e have consequently added to our
other standing tables a daily and monthly statement, that
the reader may constantly have before him the data for
seeing the exact relative movement for the years named.
The monthly movements since September l, 1894, and in
previous vears. have been as follow s:
Uonthly
Receipts.

Year Beginning September 1.
1894.

1893.

1892.

1891.

1890.

1889.

Sept’ mb’r 518,762 377,408 405,355 676.823 732,236 561,710
1,460, Ootober.. 1,622,664 1,311,269 1,135,473
1,532,426 1,365,231 1,325,358
692, Novemb’r 1,607,662 1,272,776 1,125,855
1,376,909 1,145,416 1,257,520
768, Deoemb’r 1,497,560 1,239,738 930,029 1,215,144 1,195,063 1,116,928
835, January. 938,197 687,028 436,457 665,162 859,979 700,909
February 533,398 330,504 291,648 658,855 535,273 410,044
1,603,
March. .. 532,254 257,163 241,750 376,400 427,702 213,697
865,
A p r il. . . . 372,770 217,600 202.158 251,522 298,132 110,053
158,135 126,011 129,905 192,895 196,018
738, May........
57,362

The comparison with last year is made more striking by
bringing together the above totals and adding the average
weekly consumption up to this time for the two yetrs.
Oct, 1 to June 1.
Bales o f 400 lbs. each,
000« omitted.

The exports for the week ending this evening reach a total
of 106 bales, of which 106 bales were to Great B ritain,----to France and — to Reval, and the amount forwarded to
Northern mills has been 46 bales. Below are the exports
for the week and since September l in 1894-95 and 1893-94.
Exports
from—

1893-94.

1894-95.

|V o l . LX.

Total... 7,781,402 5,819,497 4,898,630 6,946,136 6,755,050 5,753,581
Pero’tageol tot. port
reoeipts May 31... 1 9727
95-79
9705
96-60
97-91

This statement shows that up to May 31 the receipts,
at the ports this year were 1,961,905 bales more than in
1894 and 2,832,772 bales greater than in 1893.' By adding to
the totals to May 31 the daily receipts since that time w e
shall be able to reacn an exact comparison of the movement
for the different years.
1894-95.

1893-94. 1892 93.

1891-92.

1890-91.

1889-90.

To. My.31 7,781,402 5,819,497 4,898,630 6,946,136 6,755,050 5,753,581
J’ne 1 ....
1,484
1,775
3,040
3,411
5.130
8.
3,422
“ 2 ....
3.436
S.
3,887
5,613
588
“ 3 ....
8.
3,054
3,752
3,468
5,458
794
“
4 ....
4,863
1,375
8.
2,753
3,793
592
3,926
“ 5 ....
5,801
8.
6,785
8,869
910
«
6 ....
857
4,462
5,680
1,762
1,909
603
5,511
“ 7 ....
5,939
2,323
8.
2,425
217
3,054
3,162
3.306
6,355
«» 8 ....
3,389
8.
4,430
5,964
8.
3,998
5,181
“ 9 ....
763
9,098
2,509
8.
2,145
*» 1 0 ....
2,661
1,397
3.330
2,942
2,377
8.
5,474
402
“ 1 1 ....
3,410
8.
• 1 2 ...
1,492
4,386
4,940
1,493
2,765
9,531
3,140
4,599
9,998
» 1 3 ....
3,031
2,282
2,153
2,242
5,057
231
8.
“ 1 4 ....
T o ta l. . 7.816,758 5,854,672 4,943,774 7,005,630 6,814,297 5,771,529
Percentage o f total
98-22
97-85
port reo’ pts J’ne 14
96-48
97-45
97-88

This statement shows chat the receipts since Sept. 1 up to
to-night are now 1,963,086 hales more than they were to the
sune lay o f the month in 1894 and 2,872,934 bales greater than
th-y were to the same day o f the moncn in 1893. We add to
the iable the percentages o f total port receipts which had
been received to June 14 ia each o f the years named.

T h e Ex p o r t s o f C otton from New York this week show
decrease compared with last week, the total reaching 10,117
1895. 1894. bales, against 17,109 bales last week.
Below we give our
usual
table,
showing
the
exports
o
f
cotton
from New York,
479 1,441
102
372 and the direction, for each o f the last four weeks; also thè
70 1,125
total exports and direction since Sept. 1, 1894, and in the last
651 2,938 0° 'a nn the total for the same period o f the previous year.
Slock.

1067

THE CHRONICLE.

J une 15, 1895. J

EXPORTS OF COTTON (B A L E S ) FROM NEW YORK SINCE SEPT. 1. 1894

Week Ending—
Exported to—

May

24.

May

31.

June
7.

June
17.

447,387

400

39,064
975

400

40,039

929
1,963 1,120 1,122
Bremen........... .
342 1,369
263
Hamburg.................. 1,512
945
361 1,047
Other ports............. 1,479,
T o t . t o N o . E u r o p e 4,954 1,744 2,511 3,243

56,029,
60,303
68,384i

Havre........................
Other French ports..
Total F rench....

403
........
403

555
........
555

549
........
549

May 31.

day of the week ending June 14 and the daily closing prices

46,634
23,633 of spot cotton, have been as follows*
86,725

184,716

156,992

Saturday Monday. Tuesday. Wed,'day. Thursd’y. Friday.

Spot.

8mall

Spain, Italy, &o........
All other___. . . . . . . . .

•813

7,936
2

88,239
930

49,480
4,241

Market, \
1:45 p . m .$

:

Fair
demand.

Qnlet.

Inquiry.

T o t a l S p a i n , <&o ..

818

7,938

89,219

53,721

Mld.UpTds.

i

Sa932

32032

3 78

Grand Total.

>»

672,343 Sales.......—
Spec. &exp.

761,361

11,005 15.748 17.109 10,082

c3

Shipping News.—The exports of cotton from the United
Futures.
States the past week, as per latest m ail returns, have reached
Market, )
55,011 bales. So far as the Southern ports are concerned, these
are the same exports reported by telegraph and published in lr45 P. m . $
the Chronicle last Friday. With regard to New York we
Market, )
include the manifests of all vessels cleared up to Thursday.
4 P. M. (
Total bales.
N ew Y ork —To Liverpool, per steamers Bufton, 524....Tauric,
3,203................... . . . . . . . ........................................................ 3,727
To Hull, per steamer Colorado, 2,712..................... .
2,712
To Havre, per steamer La Bourgogne, 400.......... ..................
400
To Bremen, per steamers Kronprinz Friedrich. Wilhelm, 861
....Saale, 68
.................................. ....................... 929
To Hamburg, per steamers Prussia, 1,269....Taormina, 100 1,369
To Antwerp, per steamer Noordland, 5 9 5 . . . . . . . . . . . . . . . . . . . .
595
To Ch'istlana, per steamer Hekla, 350...................................
350
New O rleans—To Liverpool, per steamer Bernard Hall, 4,180. 4,180
To Bremen, per steamer Port Elliot, 7,966............................ 7.966
To Hamburg, per steamer Cape Comino, 1 ,7 3 3 ................. 1,733
To Genoa, per steamer Montebello, 4,267 ........ .....
4,267
G alveston —To Liverpool, per steamer Baron Belhaven, 5,850 5,850
Savannah—To Barcelona, per steamer Falka, 2,175.................. 2,175
To Genoa, per steamer Falka, 1,600..................................
1,600
534
Norfolk —To Hamburg, per steamer Baltimore City, 5 3 4 .........
Newport News —T o Liverpool, per steamer Kanawha, 245 . . . .
245
B oston—To Liverpool, per steamers Bostonian, 1,006....Cata­
lonia, 1,247....Scotsman, 2,502........ .................................. 4,755
Baltimore —To Liverpool, oer steamer Sedgemore, 1 ,1 3 7 ....... 1,137
To Bremen, per steamers Oldenburg, 4 ,6 5 8 ....Stuttgart,
4,248
..........................................................................- ......... 8,906
To Rotterdam, per steamer Delano, 4 0 0 .... ..........................
400
P hiladelphia —T o Liverpool, per steamer Southwark, 1,181.. 1,181
T ota l............................................................................................ 55,011

5,850
3,775
3,775
......
534
245
•• — . a
4,755
•• • • ■ a
.. . . . .
10,443
1,181
.........
..

8,042 55,011

Below we add the clearances this week of vessels carrying
ootton from United States ports, bringing our data down to
the latest dates:
G a l v e s t o n — To Hamburg—June 10—Steamer Lyndhurst, 694.
New O r l e a n s — To Liverpool June 12—Steamer Navigator,, 2,500....

June 13—Steamers Costa Rican, 4,950; Jamaican, 8,100.
To Havre -June 8 —Steamer Algoma, 3,144.
8 - Steamer Maude, 1,998.
To Barcelona—June 7—Steamer Elfrida, 5,035; bark Concepcion
1,650.
N o r f o l k — To Liverpool—June 11—Steamer Monkseaton, 691.
N e w p o r t N e w s —To Liverpool—June 8—Steamer Rappahannock, 299.
B o sto n —To Liverpool - June 6 -Steamer Cambroman, 881 upland and
106 Sea Island.....June 7 -Steamer Gallia. >*6 ....June 1 0 Steamer Michigan, 3,065....June 11—Steamer Georgian, 651...
June 12—Steamer Sylvania, 2,100.
B a l t i m o r e —To Bremen—June 12 Steamer Weimar, 1,436.
To Hamburg June 13-Steamer Russia. 150.

C h a r l e s t o n —To Bremen—June

Ootton freights the past week have been as follows:
Satur.

Liverpool, steam.a
116
....
Manchester........d
Havre, asked__ c
21t*
....
Do later....... c
Bremen, June...d
. ..
Do
later., .d
Hamburg, steamd
%
Do
steam.d.
25t
Ams’dam, steam.e.
201
Reval, v. Hamb.d.
U 64
Do v. Hull...d. 532-21i:s
....
Barcelona........ ,d

Mon.

Tues.

*16

*16

2 1t*

Wednes. Thurs.

Fri.
*16

*16

*16

...

...

....

2 1t*

211'

211*

211*

....

....

....

....

*6

*8

*8

*8

. .. .

....

...

...

....
%
....

2 5t

251

2 5t

25t

2 5t

. .. .

....

....

. ...

....

2 0t

201

201

20«

201

*>64
B32

“ 61
“ 32

“ 64
532

“ 61
632

**64
632

....

....

%

*8

....

. .. .

....

....

. ...
9a i

Trieste, Jane 8..d.
“ 64
“ «4
“ 64
“ 61
“ 64
“ 64
Antwerp, steam .d.
664
564
664
5e4
664
7.4
7<1A
7<u
Ghent, v. Antw’p.d Ip*
7« 4
7« i
t Cents net per 100 lbs.
* And 5 per cent.
L iv e r po o l .— By cable from Liverpool we have the followir g

statement of the week’s sales, stocks, &c., at that port:




j

Quiet.

3%

313ie

8,000
500

8,000
5C0

8.000
500

8,000
500

10,000
500

Steady at
2.64 ad­
vance.

Steady.

Steady.

Steady ai
1-64 ad­
vance.

Quiet at
2-64 d e­
clin e.

Quiet.

Quiet.

Rasy.

Quiet.

Quiet.

M on,, June 10«

S a t., Jun e 8 .

T u es,, June 1 1 ,

Open. High Low. Clos. Open High Low. Olos.
Ju n e...........
June-July..
J uly-A ug...
A ug.-Sept..
Sept.-O ct...
Oet.-Nov....
N ov.-D ee...
Deo.-Jan..
Jan.-Feb....
Feb.-Mch.
Mch.- April.
Aprii-May .

C3
w

d.

d.

d.

d.

d.

d.

d.

d.

354
3 54
3 54
3 56
3 56
3 56
3 57
3 58
3 59
3 60
3 61

3 51
3 54
3 65
3 56
3 56
3 57
8 58
3 58
3 59
3 60
3 62

3 54
3 54
3 54
3 56
3 56
3 56
3 57
3 58
3 59
3 60
3 61

3 54
3 54
3 55
3 56
3 56
3 57
3 59
358
3 59
3 60
3 62

3 55
3 55
3 55
3 56
3 67
3 57
3 59
3 58
3 59
3 61
3 62

3 55
3 65
3 55
3 56
3 57
3 67
3 53
3 58
3 59
3 61
3 62

3 54
3 54
3 55
3 56
356
3 57
3 57
3 53
3 59
3 60
3 61

354
3 64

3(5
3 56
3 56

357
3 57
358
359
3 60
3 61

••••
W ed ., June 1 2 .

Bareel
Iona <&
Genoa. I o ta .

4,267 18.146

O
H

Steady.

The opening, highest, lowest and closing prices of futures
at Liverpool for each day are given below. Prices are on
the basis of Uplands, Low Middling clause, unless otherwise
stated:

The particulars of these shipments, arranged in our u» a1
form, are as follows:
Bremen RotterJt Ham- dam <6 ChristLivernool. Hull. Havre. burg. Anlw'p. iana.
350
595
400 2,298
New York. 3,727 2,712
. . . . .
9,699 . . . . . . . . . . . .
N. Orleans. 4,180
. . . . . .
............ ..
....
. . . . . .
Galveston.. 5,850
. . . . . .
. . . . . .
. . . . . .
___ . . .
Savannah..
534 . . . . . . . . . . . .
N orfolk....
. . . . . .
. . . . . .
............ ..
............ ..
....
245
N’p’t News
. . . . . .
. . . . . .
.....
.mrnmmm
Boston....... 4,755
400 . . . . . .
8,906
Baltimore.. 1,137
Phil adel’a.. 1,181 ......... ......... ........ ......... .........
350
995
400 21,437
T ota l. . . . 21,075 2,712

June 5.

42.000
17.000
56.000
75.000
Sales of the week.......... bales.
2,100
1,000
900
1,800
Of which exporters took....
400
1,100
1,000
Of whioh speculators took..
41.000
16.000
54.000
72.000
Sales American.................... .
8,000
4,000
7,000
9,000
Actual
export........................
327,282 Forwarded.............................
59.000
31.000
66.000
59.000
116,683 Total stock—Estimated........... 1.675.000
1.642.000 1.642.000 ,627,000
,509,000
1.522.000
1.530.000
1.560.000
Of
which
American—Estim’d
443,965 Total import of the week----- 57.000
35.000
61.000
41.000
49.000
23.000
36.000
53.000
Of whioh A m erican..........
17,440 Amount
72.000
106,000
94.000
104,000
afloat..........
225
78.000
48.000
75.000
75.000
Of which American..............
17,665

328,939
118,398

Liverpool................. 4,726 6,190 2,773 3,727
Other British ports..
104 7,259 3,338 2,712
T o t . t o G t . B r i t ’ n . 4,830 13,449 6,111 6,439

May 24.

Same
period
previous
year.

Total
since
Sept. 1.

T h urs., June 13.

P r l „ Jun e 1 4 ,

Oam High Low. Clos. Open High Low. Clos. Open High Low. Clos.
d.
d.
d.
d.
d.
d.
d.
d.
d.
d.
d.
d.
J a n e ...........
June-July..
July-A ug...
A ug.-Sept..
Sept.-O ct...
Oot.-Nov..
N ov.-Dee...
D ea-Jan....
Jan.-Feb__
Feb.-M ch...
Mch.-April.
April-May..

3 51
3 51
3 52
3 53
3 53
3 54
3 54
3 55
3 56
3 57
3 58

3 51
3 51
3 52
3 53
8 53
3 54
354
3 55
3 56
3 67
358

3 51
3 51
3 61
3 52
3 52
3 63
3 64
3 55
3 56
8 67
3 58

3 51
3 51
3 61
3 52
3 62
3 53
3 54
3 55
3 56
3 57
358

3 51
3 51
3 51
3 53
3 53
3 63
3 51
3 54
3 55
3 67
3 58

3 51
3 61
3 51
3 53
3 63
3 53
3 54
3 51
3 65
3 67
358

3 50
3 50
3 51
3 52
3 52
3 52
3 53
3 54
3 56
3 56
3 57

3 50
3 50
3 51
3 52
3 52
3 52
3 53
3 54
3 55
3 56
3 57

3 47
3 47
3 48
3 49
3 49
3 49
3 50
3 51
8 51
3 53
3 54

3 47
3 47
3 48
3 49
3 50
3 50
3 50
3 52
3 53
3 53
3 55

3 47
3 47
3 48
3 49
3 49
3 49
3 50
3 51
8 51
3 53
3 54

3 47
3 47
3 48
349
3 50
3 50
3 56

3 52
353
3 63
3 55

....

B R E A D S T U F F S.
Friday, June 14, 1895,
Spring-wheat flour has been more; freely offered, and as
the demand has been slow, owing to a decline in the grain,
prices have weakened a trifle. Winter-wheat flour, however,
has been in light supply and steadily held. For city mills
there has been only a limited inquiry, but prices have been
without change and steady. Rye flour has been in light sup­
ply and firmly held. Thedem tnd for corn meal has bsen
quiet, but prices have been quoted unchanged. To-day the
market for wheat flour was quiet and easy, particularly for
spring grade.
The trading in the market for wheat futures has been moder­
ately active, but at declining prices. “ Longs” have been
selling to realize profits, prompted by a more favorable re­
port than expected by the Government’s Board of Agricul­
ture, better weather conditions at the West for the growing
crop and dull and weaker foreign advices. In the spot mar­
ket business has been quiet and prices have declined with
futures. The sales yesterday included No. 1 hard at 5J^c.
over July f. o. b. afloat. To-day the market was depressed
under liquidating sales bv “ longs,” prompted by improved
crop accounts from the West, accompanied with selling or­
ders and dull foreign advices. The spot market was dull
and easier. The sales included No. 1 hard at 86c. delivered.
No. 2 red winter quoted at l@ lj^ c. over July f. o. b. afloat.
DAILY CLOSING PRICES OF NO. 2 RED WINTER WHEAT.
Tues.
Wed. Thurs.
M on.
Sat.
Sa

June delivery...............o.
July delivery............. o,
August delivery,......... o
. 0.
September delivery....o,
October delivery.......o.
December delivery...... c.

83
831*
83%
841«
86

824)
83
83%
84
84%
85%

83
83%
84
81%

....

86

81
81%
81%
82%
82%
83%

81%
81%
82%
82%
83
84 4

F r i.

80
80%
80%
81%
83

1068

THE CHRONICLE.

There has been more activity to the speculation in the mar­
ket for Indian com futures. Favorable weather advices from
the West prompted free selling by “ longs ” to realize profits,
and this with weaker foreign advices and sympathy with the
decline in wheat caused a rather sharp decline in prices. In
the spot market there has been only a limited business trans­
acted and prices have weakened. The sales yesterday in­
cluded No. 2 mixed at l^ @ lj^ c . over July f. o. b. afloat. To­
day the market was easier in sympathy with the decline in
wheat and under favorable crop advices. The spot market
was lower. The sales included No. 2 mixed at 54J£c. in ele­
vator and l ^ c . over July f. o. b. afloat; also No. 2 white at
56^c. f. o. b. afloat.

[V ol. LX.

90, Kentucky 86, Ohio 70, Michigan 77, Indiana 56. Illinois 52. W is-•
co nsin 73. Minnesota 107. Iowa 100, Missouri 70, Kansas 39. Nebraska
56, South Dakota 98, North Dakota 99, M ontana 96, Wyoming 109
Colorado 95, New Mexico 104, Arizona lo o , U tab 93, Nevada 100
Idaho 80, Washington 94, Oregon 99, California 102, Oklahoma 5 4 ’
General average 78-6.

The comparative acreage of wheat for 1895 in each State is
as follows :

Maine 97, New Hampshire 100, Vermont 83, New York 95, New
Jersey 93, Pennsylvania 98, Delaware 90, Maryland 96, Virginia 95,
North ICarolina 9«, South Carolina 91, Georgia 91, Alabama 99,
Mississippi 112, Texas 80, Arkansas 96, Tennessee 90, West Virgin­
ia 102, Kentucky 99, Ohio 95, Michigan 90. Indiana 9 1, Illinois 95,
Wisconsin 98. Minnesota 100, Iowa 97, Missouri 101, Kansas 88. Ne­
braska 99, South Dakota 100. North Dakota 101. Montana 100, Wyo­
ming 150, Colorado 9*, New Mexico 103. Arizona 111, Uoah 102,
DAILY CLOSING PRICES OF NO. 2 MIXED CORN.
Nevada 100, Idaho 90, Washington 85, Oregon 101, California 115,
Oklahoma 111. General average 971.
Sat. Mon.
Hues.
Wed. Thurs. Fn.
The preliminary report places the acreage of oats at 10T2 of last
56%
55% 55% 55
July delivery.................o. 57% 57
year’s
area. The returns make the condition 31*3 against 87*0 last
September delivery....o. 58% 58*8
57%
563s 56% 56
June.
jOats for future delivery have been moderately active and
The returns as to barley make the acreage UU p^r cent of last'year’s
prices have declined under liquidating sales by “ longs,” breadth. The average condition of the crop Jane 1 was 90'3 per cent
prompted by the Government report, which it was estimated against 82-2 last year.
The acreage in rye is 96*7 o f that of last year. Average condition
pointed to a yield of 717,000,000 bushels. The spot market June
1 85*7 per cent.
has been moderately active at declining prices. The sales
The acreage of rice is 100*2 per cent of that of iast year and the con­
dition
89*2.
yesterday included No. 2 mixed at 82%@33c. in elevator and
No. 2 white at 35J£@36c. in elevator. To-day the market
N e w Y o r k P r o d u c e E x c h a n g e C o m m it t e e s . —The follow­

was weaker under favorable crop prospects. The spot market ing appointments made by the President have been confirmed
was lower. The sales included No. 2 mixed at 32^@32J£c. in by the Board of Managers of the Produce Exchange:
elevator and No. 2 white at 35%c. in elevator.
A r b it r a t i o n —Evan Thomas, Frank A . Ferris, Franklin Quimby,
DAILY CLOSING PRICES OF NO. 2 MIXED OATS.

Sat.
June delivery........ . 0.
•m
m
July deli v e ry ................ 0. 34
September delivery.... c. 34

Mon.
333a
34
341s

Tues.
33 %
33%
333a

Wed.
325s
33
3278

Thurs.
32%
33
33

F>*t.
32
32%
32%

The following are closing quotations:
Fine................. # bbl. $2 50® 2 80 Patent, winter.......... $4 20® $4 50
Superfine.................. 2 70®
310City mills e x tra s.............. ® ' 4 20
Extra, No. 2 ............... 3 00®
330Rye flour, superfine.. 4 00® 4 50
3 25®
355Buokwlieat flo u r..... . . . . ® . . . .
Extra, No: 1.........
Oleara........................ 3 40®
385Com meal—
Straights.................... 3 90®
4 35 Western, &o.......... . 2 80® 2 90
Patent, sprin g....... 4 35® 4 75
Brandywine............
3 00
[Wheat flour in sacks sells at prices below those for barrels.]
Wheat—
Spring, per bush..
Red winter No. 2 ..
Red winter.. . . . . .
W hite....................
Gats—Mixed, per bu.
W h ite... ...................
No. 2 mixed ............
No. 2 white ..............

Corn, per bush—
0.
0.
86
West’ n m ix e d ...... 54 ®
No. 2 mixed.......... 54% ®
81%
82
55 ®
Western yellow ..
84
: Western White___ 55 ®
34
Rye—
42%
Western, per bush.
®
33%
State and Jersey..
®
36% Barley—No.2 West’n
®
State 2-rowed........
®
State 6 -row ed..... . . . . ®
B r e a d st u f f s
P r o v is io n s , C o tto n
C.

76 ®
80% 9
75 ®
78 ®
32 ®
35 ®
32%®
35%®

0.

57
56%
57
57

E xports of
AND
P e t r o l e u m . —The exports of thsss articles during the month

o f May, and the eleven months, for the past three years have
been as follows :
■Exports
from U. S.

1894-95.

May.

11 Months.

1893-94.

May.

1892-93.

11 Months.

May.

11 Monta»
Quantities.
Wheat,bush. 6,862,216 71,297,694 5,891.707 84,508,288 9,333,318 106.481,392
Floor... bbls. 1,402,476 13,870,322 1,396,358 15,312,033 1,308,653 15,116,951
Wheat....bu. 13,173,858 133.714,143 12,175,318 153,547,416 15,222,256 174,507,671
Corn...bush. 4,152,647 22,422,981 3,690,854 60,693,412 5,411,331 40,106,558
Tot. bush.. 17,326,005 156,137,124 15,866,172 214,240,828 20,633,587 214,614,229
Values.
$
$
»
$
$
$
Wh’t & flour. 9,253,949 87,279,394 8,950,097 120,570,154 13,090,371 154,140,520
Corn & meal. 2,416,122 12,400,937 1,749,823 28,740,732 2,795,786 22,431,438
R ye........ .

Oats Sc meal.

72,394
67,232

5,097
677,167
781,983

49,883
15,180

126,391
2,194.461
2,179,172

72,968
308,860
75,850

881,457
779,775
1,240,701

Br’dstuffs.. 11,809,697 101,141,578 10,764,983 153,810,910 10,343,041 179.473,891
Provisions *. 11,971,410 148,034,581 15,044,721 156,748,771 13,478.235 147,564,033
Cotton......... 9,837,361 199,291,300 8,670,785 205.572.729 10,761,116 181,867,704
Petrol’m, Ac. 4,631,138 40,923,341 3,285,003 37,086,370 3,758,151 37,011,596
Tot. value. 38.249,601 489,398,800 37,765,442 553,198,780 44,341.443 546.517,224
•.Including cattle and hoes In all months and years.

A g r ic u l t o r a l D e p a r t m e n t R e p o r t

of

C e r e a l s , & c .—

The report of the Department of Agriculture showing the
Condition of the cereal crops on June 1 was issued on the
10th inst., and is as follows :
The report of June 1 consolidated from the returns of the corre­
spondents of the Agricultural Department makes the acreage of
w inter wheat at preient growing, after allowing for abandonments,
96*1 per cent of the area harvested in 1891.
The percentages of winter wheat acreage upon the basis indicated
o f the principal States are as follow-: Ohio 95, Michigan 90, Indiaoa
93, Illinois 95, Kansas 87 and California 115. The percentage of
spring-wheat area for the entire country is 99*5 per cent, being but a
slight reduction from last year’s area. The percentages of springwheat acreage of the principal States are: Wisconsin 107, Minnesota
100, Nebraska 101, North Dakota lOO, South Dakota 100.
The condition of winter wheat has fallen decidedly since last report,
being 71*1 per cent, against >•2 9 per cent on Mav l. The condition
reported June 1 was 83*2 per cent The percentages of the principal
States are as follows: Ohio 70, Michigan 77, Indiana 56, Iliiaois.51,
Missouri 70. Kansas 3 7, Nebraska 37, California 102.
The condition of spring wheat shows an average for the whole
country of 97*8 per cent, a id for the orinoipal spring-wheat States as
follows: Minnesota 109, Wisconsin 97, Iowa 101, Nebraska 60, South
Dakota 98, North Dakota 99, Washington 96, Oregon 99. The average
percentage of all wheat acreage Is 97*1 and the condition of same is
78-6 per cent.

The condition of wheat June 1 for each State is as fellows :

Maine 100. New Hampshire 103, Vermont 91, New York 93, New
Jersey ¡99, Pennsylvania 96, Delaware 97, Maryland 99, Virginia 96,
North Carolina 96, South Carolina 88, Georgia 80,1Alabama 90, Miss­
issippi 80, Texas 56, Arkansas 80, Tennessee 83, West Virginia




Paul Gottheil and E. S. Whitman.
F i n a n c e —Frank Brainard, David Dows, Jr., and H. A. McGee.
G r a in — H. B. Hebert, Harry B. Day, John P. Truesdell, John Valient
and C. E. Wilmot.
P e t r o l e u m —J. Lombard, C. M. Pratt, Wright Babcock, N. 8. Stabb
and A. Goepel.
C h e e s e — John Gledhill, M. J. Farrell, F. W. Leggett, A. G. Turner
and David Muir.
H ay a n d St r a w —M. L. Rickerson, D. F. Wells, S. W. Bowne and
8. Ingersoll.
F l o u r —C. H. Warner, R. C. Johnson, A. C. Toomey, W. T. Jeffrey
and John Brown.
M a r it im e — A. D Snow, J. C. Seager, S. F. Engs, G. A. Muller and
Vincent Looser.
B il l s o f L a d in g —David Bingham, Percy Chubb and James Barber.
B u t t e r — L. I. Seaman, George W. Martin, C. H. Tanner, W. N. Martin
and Halsey Fitch.
S e e d s —S. D. Crosby, F. C Kirchoff. H B. Hebert and I. H. Moses.
P kOv is io n s —B. G. Coles, F. A. F. Cott, Samuel L. Finlay, C. H.
Wessells and B. B. Roundey.
N a v a l St o r e s —W. F. Sorey. R. W. Robertson, H. J. Hayne, Alex.
Johnstone and John E. Camerden.
8 t e a m s h ip A f f a i r s —James E Jenkins, Henry A. Simonds, J. C.
Noyes, N L. Walthers and O. Sanderson.
c l e a r i n g s —Thomas A. McIntyre, Chas. F. Buxton and E. Prichard.
L ard —F. W. Commiskey. George L. Stebbins, John Gledhill, R. M.
Knapp and Charlps Rohe, Jr.
H o p s —W. H. Akin, J. Liebmann, J. B. Hasslacher, 8. Uhlmaun and
P. Doelger. Jr.
D is t il l e d S p ir i t s —F. O. Boyd, A. Lattman, E. flowe, P. F. Keany
and J. Somborn.
R a i l w a y A f f a i r s —Charles M. Vail, Edwin Foley, J. H. Herriok,
Thomas C. Pollock and W. A. Penfleld.
D e l i v e r i e s —David biogham. Franklin Quimby and R. H. Laimbeer.
iNFOKMATroN a n d St a t is t ic s —Perry P.williams, James Doyle, J. Le
Duo, T. G. Wells and W. H. Trafton.
Oil —P. M. Millspaugh, G. H. Williams, R. B. Brown, E. Flash, Jr.,
and Herman Loeb.

The movement of breads tuffs to market as indicated in the
statements below is furnished to us by the Statistician of the
New York Produce Exchange. We first give the reoeipts at
Western lake and river ports, arranged so as to present the
comparative movement for the week ending June 8, 1895,
iynd since August 1, for each of the last three vears:
‘ieceipts at—

Oats.
Barley.
Flour.
Wheat.
Com.
Bye.
Bbls.imbs Bush.00 lbs Bush.50 lbs Putk.32 lbs Bush.4,8 lb> flu.56 1be.

ihloago........
Milwaukee...
Jiiluth...
Minneapolis.
foled o..........
Cleveland..,.
3t. Louis.......
P e o ria ........
Kansas City.

41.628
43.950
112,855
2,342
5,385
1,230
15,145
18,000

82,179
134,350
257,883
028,220
101,700
15,200
69,334
112,508
10,800
15,765

2,230,620
40,950
16,120
75,60u
28,085
9,750
93,110
171,600

1,577,133
205,000
39,463

56,001
25,000

21,441
10,275

2,500
85,028
41,953
97,340
316,800

1,200
10,800

1.000

......

101
1,800

7,700

101,301
34,617
240,571 1,429,938 2,668,335 2,315,220
Tot.wk,*95.
434,013 1,406 392 2,202,027 2,123,183
70.320
50,432
lam e wk,’94.
212,405
52,372
lam e wk,’93.
349,548 2,318,391 3,545,291 3,233,073
Nnes Aug. l.
1894-95,.... 10,731,944 136,959,947 73,494,694 85,947,690 30,942,122 2,493,069
1893-94..... 11,972,727 141,427,499 139,075,298 108,934,378 28,213,638 3.252,703
1892-93..... 11,513,384 224,359,873 109,650,922 102,744,945 29,074,001 6,989,954

The receipts of flour and grain at the seaboard ports for the
week ended June 8, 1895, follow :
Beceipts at—

Flour,
bbls.

Wheat,
bush.

Sew York................. 121,035 234,200
Boston......................
58,153
7,527
Montreal.................. 30,746 209,767
Philadelphia...........
51.363
4,668
Baltimore................. 84,625
12,311
Richmond...................
4.575
18,175
New Orleans ..........
7,698 .............
T otal week........ 356,195
Week 1894 .............. 489,378

Oom,
bush.

383,675
185,931
87,484
114,132
197,732
26,480
28,848

484,648 1,004,230
995,242
923,867

Oats,
bush.

615,100
122,811
57.500
107,697
55,607
12,910
9,000

Barley.
bush.

Rtys,

........
1,875
............
........
............
....
............

930,655
842,760

1,875
9,300

bush.

201

201
3,737

The total receipts at ports named in last table from Jan, 1
to June 8 compare as follows for four years :
Beceipts of—

1895.
0,983,785

1894.
8.770,814

1893.
7,744,571

1892.
8,078,682

W heat...............bush. 14,267,299
C orn...............
15.692.509
O a ts..................
1,502,834
B arley..............
168,336
Rye...................

12.038,023
29,049,525
14,895,385
1,768,929
110,407

24.977,011
21.147,276
18.13.3.714
2,553,320
574,003

44,673,302
53,153,699
22,019,572
2,775,000
2,428,499

:.3LT otal grain eet.eee 47,462,005

57,802,274

67,415,366

130,053,168

F lo o r ............. . .bbls.

J une

THE CHRONICLE.

15, 1895.]

The exports from the several seaboard ports for the week
ending June 8,1895, are shown in the annexed statement :
Wheat.
bush.

Exports from—

. 510,668
B oston...................
Portland.................
Philadelphia........
Baltimore.............. . áO'OOÓ
N orfolk

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

Com.
bush.

Flour.
bbls.

49,661
213,621
637

5.857
43,416
1,561

71,082
22,328

643.986
7,200

110,472
162,684

23,648

Total w eek.......... . 764,565 1,178,161
Same tim e 1894.... . 929^628
763,999

167.892
288,634

M ontreal................ . 213,897

Oats.
bush.

2,486

2,486
14,313

Rye.
bush.

835

Peas,
bush.
3.231

3,231
39,912

Nb w Y o r k

to

1069

G r e a t B r ita in ..........................
O th e r E u r o p e a n .......................
C hina .......................................
In d ia ........................................
A ra bia ..........................
A f r ic a ...........................................
W est I n d i e s . . . . . . . . . . . . . . . . . .
M e x i c o . . . ...........
C en tra l A m e r ic a .......................
South A m e r ic a ..................... .
O th er C o u n t r i e s ... ...............

The destination of these exports for the week and since
8ept.'l, 1894, is as l* low. W e add the totals for the corres­
ponding periods of last year for comparison :

T o t a l......................................
C h in a , v ia V a n c o u v e r * ....

-----------Flour.--------- , .--------- Wheat.---------, ---------- Com.---------- ,
Exports for
Week Since Sept, Week Since Sept. Week Since Sept.
week and since June 8. 1,1894.
JumeS. 1,1894.
June 8. 1,1894.
Sept. 1 to—
bbls.
bbls.
bush.
bush.
bush.
bush.

1895.

1894.

Week. Since Jan. 1.

Week. Since Jan. 1 »

J u n e 10.
90
35
578
1

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

Ï4
275
45
403
3 ,2 8 2
1 69
4 ,8 9 2

121
30
4 01

3 ,0 2 9
1,6649
4 0 ,7 0 8
4 ,4 6 9
1 1 ,6 3 3
3 ,8 8 4
9 ,2 8 6
876
3 ,3 1 5
1 9 ,1 8 1
1,475-

3 ,0 3 3
590
283
42
198
1,2 9 2
12

8 7 ,1 3 2
9 ,7 0 0

6 ,0 0 2

9 9 ,5 2 0
8 ,8 7 8

T o t a l...................................... 4 ,8 9 2
9 6 ,8 3 2
* P rom N e w E n g la n d m ill p o in ts d ire ct.

6 ,0 0 2

1 08 ,39 8

The value of the New York exports for the year has
been $3,869,758 in 1895 against $5,376,446 in 1894.
Further advances are recorded in brown sheetings, includ­
...... ...
a964
ing %<s. in Lawrence 4-yard sheetings and
in a number
2,870
of 4-4 fine browns, and the market throughout is strong in
8,484
120,227
T o t a l.. ..
167.892 21.405,933
764,565 37,899,075 1,178,161 21.405,953 tone, although not active. An improved demand is looked for
Votai 1894.
288,834 10,662,159
929,628 41,802,064
763,999 46,942.382 shortly. Brown drill', ducks and osnaburgs are also very
The visible supply of grain, comprising the stocks in granary firm. Several prominent makes of denims have been ad­
at the principal points of accumulation at lake and seaboard vanced 3^c. to 3^c. per yard, and the market for these is deci­
dedly stronger. Ticks are also «ccasionally J^c. to
higher,
ports, June 8, 1895, was as follows :
Com,
Oats,
Wheat,
Rye,
Barley and well sold up. Stocks of other colored cottons, such as
I n store at—
bush.
hush.
lyush.
bush.
bush. cheviots, checks and s'ripes and cottonaies, are moderate,
New Y ork .................. . 5,167,000
1,428,000
8,000
298,000
8,000
and prices steady.
Plaids generally firm. In bleached
.
á 1,000
108.000
A lb a n y ......................
25,000
96,000
muslins and cambrics occasional tickets are J£c. higher on
B uffalo...................... . 1,453,000
710,000
668,000
30,000
24,000
the week in medium grades, whilst a general advance of %o.
C h ica go..................... .18,034,000
2,009,000
28,000
5,842,000
1,000 is reported in 64 square makes. Sales of wide sheetings are
Cotton flannels and
M ilwaukee................ . 289,000
2,000
1,000
23,000 on a moderate scale at firm prices.
Do
afloa t.......
blankets firm but quiet. White goods, kid-finished cambrics
D u lu th ...................... 9,226,000
203 000
8.000
1,000
and other linings quiet at unchanged prices. The demand
T oled o........................ . 258,000
4.000
349.000
25.000
for new fancy prints is fair, with business still doing mostly
D etroit....................... . 341,000
149.000
15.000
■ 1,000
2.000
Osweso......................
8,000
10,000
10,000 subject to later prices. Other prints firm and occasionally
8t. Louis...................
987.000
144,000
161,000
against buyers. Ginghams have been in about average re­
Do
afloat........
¿5,000
Cincinnati..................
quest and without new feature. Print cloths have advanced
12,000
85,000"
-74,000
7,000
B oston........................ . 555,000
161,000
71.000
l-16c., to 2 ^ c., after moderate sales at 2 13-16c.»
Toronto.....................
82,000
20.000
United Kingdom
Continent...........
B. & C. Am erica..
W est Indies.......
Brit. N. A . Col’s.
Othereountries..

78.690 14,881,648
39,716 6,347,469
9,799
160,078
31,170
410,540
6,942
84,985
1,675
31,333

415,441 25.357,945
340,640 12,390,703
........
18,366

936,811 14,381,548
221,546 6,347,469
2,965
160,078
9.364
410,540
7,124
84,985
361
31,333

Montreal...................
278.000
Philadelphia.............
217.000
Peoria.........................
43.000
Indianapolis.............
53.000
Kansas City...............
151.000
Baltimore..................
494.000
Minneapolis.............. 12,076.000
St. P a u l.....................
On Mississippi Riyer
On Lakes...................
812.000
On canal and riv er..
64,000

3.000
1.508,000
465,000

13,000
1,709,000
812,000

20,000

Total June 8.1895.49,765,000
Total June 1.1895.52.229.000
Total June 9,1894.£8,211,000
Total June 10,1898.68.662,000
Total June 11,1892.26,651,000

11.583.000
10.762.000
7.514.000
8.159.000
4.628.000

8.749.000
8.626.000
2.764.000
3.1 3l,000
3.897.000

127.000
136.000
206.000
593.000
532.000

27.000
83.000
190.000
118.000
173.000
385.000
5,000

110,000
V02,000
578.000
74.000
167.000
142.000
86.000

5,000

1,000
10,000
1,000

189 5 .

Stock o f Print Oloths—

2,000

Jane 8.
............ 3 5 ,0 0 0

189 4 .
June 9.
2 8 0 ,0 0 0
4 9 7 ,0 0 0 >
1 6 1 ,0 0 0 \

1893.

June 10»
8 5 ,0 0 0
1 4 ,0 0 0

6.000
....
’ 20,000
94.000
100,000
87.000
376.000
396.000

2 8 3 ,0 0 0

9 3 8 ,0 0 0

9 9 ,0 0 0

—The demand for fall merchandise
has been moderate in all lines. Dress goods and silks con­
tinue firm. Linens steady and cotton hosiery and underwear
have an upward tendency in leading makes. Business in
seasonable lines irregular and without particular significance.
F o r e ig n D r y G

ood s.

I m p o r t a t io n s and. W a r e h o u s e W i t h d r a w a l s o f D r y G o o d s

The importations and warehouse withdrawals of dry goods
at this port for the week ending June 13, and since
January 1, 1895, and for the corresponding periods of last
N ew Y o r k , F r i d a y , P. M., June 14, 1895.
year are as follows:
There have been indications of an increasing interest on the
2
S H M S
2
8
K.
B
part of the purchasing trade in business for fall in staplecotti
“ g S g S 's â f s
ton goods, and although actual sales have shown little expan­
is s ili
a IRrslß
S
*-. P
sion, considerable orders have been turned down by sellers
i-s7
p; . f
s: 5
si
et
§i
®
;
3
who have been unable to give desired deliveries or have re­
■
0: o
p:
at
•
fused to accept the prices offered. Meanwhile the market
g:
B
tb
continues to harden in tone and in various directions to im­
•ö.
«
prove in price, a number of advances being recorded during
the week. These include bleached, brown and coarse-colored oo QOM
^ to to to
MtOMCOM
PÍ 5
05 CO
t0OtOtC5Ox
$ A
t 00 »4 ■*4CO** 05 CO
05 01000CO
rf* -v K I COCO
C*Ä
cottons, the most encouraging feature being the advances in O
toot O O CO
CO »4 to WOt »P*. <1 CO
0105 CO*tC0
Mw
the latter, colored staples having been the weak feature in CO 05 CO
M
tOM
»thOO^Ot
M© —© ©
C
5
C
O
C
O
00 CO05 *-*00
H
a
the situation for a considerable time past. The production of CO c o o ts » <1 M ©
o p e p co
sä
CO
wppop^
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bsoswf-ie.
O coot'boo
CO
VoCötOöO
these has apparently been curtailed, as despite indifferent 00
05 M ^ 05
H to
CO £»CO -9 00 -3 'VI ©
COOlO^M
C
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C
D
C
O
Ot-*
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ooo tto o
P fr O iQ 0 0 5
5 »—
business stocks are decreasing. Business in fall prints and CD
69,
b'
0
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ginghams has been fair but the price situation is still some­ Ü» <JCO
M
M M
PPpM Q O
to 00 05 TOIf-©©
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what unsettled. There has been no new feature in woolens ©
'COCOMM 05
CO MM ao ao co bt co
VoxVco
GOCOcoco to
<1C0 M00 05 05^1
CO to »s lot to
and worsteds. Seasonable business has benefitted somewhat 05
to 05 X 05 CO
M M to
H^tOM<l^
from the fine weather and is of fair volume for this late stage. CO CO
M tOtOM
CO r-*QD
Crop accounts from the West through dry goods circles are <1 MÖ5 ottftV toco
05<)<ltfhOt
H00 COO00
00 ODO Oik H h »
M tOCOCOOt
t039
improving and prospects of fall trade encouraging.
Q0 OtM 00 00 if. ©IfO O ttO p Q O

THE

DRY GOODS TRADE.

&Mm

s

§g

1 ,0 9 6
8 ,6 8 7

2 4 0 ,3 7 7
6 3 9 ,3 4 5

4 2 ,2 2 1
4 7 2 ,1 7 1

agents are reported showing
new lines of "woolen and worsted goods for men’s wear for
next spring, but very little business is doing in these outside
o f some low-priced commercial wool fabrics, nor is the de­
mand for spring lines expected to assume important dimen­
sions for two or three weeks yet, when something definite
may be known about prices. In heavy weights the business
passing is of moderate dimensions still, but growing and
spreading beyond plain staples, to which it has so far been
confined. Business in overcoatings and cloakings continues
limited and without special feature. Satinets are quiet as
are cotton warp cassimeres. Woolen and worsted dress
goods quiet but firm. Flannels and blankets also quiet but
prices well maintained. Carpets in better request but prices
are irregular.
D o m e s t i c C o t t o n G o o d s .— The exports o f cotton goods
from this port for the week ending June 10 were 4,892
packages, valued at £204,428, their destination being to the
points specified in the table below:
W

oolen

G o o d s . —Occasional




<1
to
X
pmt
to
£»
to
05
M
00
o
CO
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THE CHRONICLE.

1070

S t a t e aw* C ity D e îa w tw e w t .
TERM S OF SU B S C R IP TIO N .
T h e I nvestors ’ S upplem ent

will

be

furnished

without extra charge to every annual subscriber of tbe
C omm ercial a n d F i n a n c i a l C h r o n ic l e .
T h e State a n d Cit y S u pplem ent will also be fur­
nished without extra charge to every subscriber of the
C h r o n ic l e .
T h e S treet R a i l w a y S u pplem ent will likewise
be furnished without extra charge to every subscriber
of the Chr o n icle
T h e Q uotatio n S upplem ent , issued monthly, will
also be furnished without extra charge to every sub­
scriber of the C h r o n ic l e .
TERMS for the C hr o n icle with the four Supple­

ite.
Page.
Location.
4
8 48..
New Orleans, L a.......
8 9 5 ..
Norwich, Conn.. 3*2
4
9 8 0 ..
Norwood, Mass.........
941. .Passaic, N. J ............... 5
4
9 4 1 ..
Pittsburg, P a ............
849.. Portage, Wis............... 5
8 0 8 ..
Quincy, Mass.... 4
4 ..
8 9 5 ..
Richmond Co., N. Y
980.. Rockville Centre, N. Y. 4
8 9 6 ..
5.. Paul, Minn.. 5
9 4 1 ..
5.lem , Ohio.
4
8 9 6 ..
5.henectady, N. Y---9 8 0 ..
5.arpsburg, Pa. 5 ,
8 4 9 ..
511.er City Ind. Sch.
Dist., Iow a............... 6
412
9 4 1 ..
5.ringfield, M o. 4*2
8 9 6 ..
5 .ra cu se,N. Y .. 4
9 8 0 ..
Wapakoneta, Ohio__
4
89 7 ..
Woodbury Co., Iowa.

fVOL. L X .
Amount. Award.
$ 152,500 *100166,000 1008,000 104-55
1896-1919
24,000 107-339
1901-1925 5,625,000 108-72
35,000 101-285
av. 5y. 10 m.
45,000 105-459
1896-1925
35,000 107-169
June 1,1915
29,500 100-25
1915-1925
200,000 101-052
July 15,1896
4,800 103-25
215,000 100-586
4 1911 1915
8,000 1031125
1902-1909

4

Maturity.
1945

1897-1901
1896-1899
May 1,1915

5,000
25,000
260,000
5,010
260,000

104103-55
100-8125
100-405
tlOO*

Total (36 municipalities)................................ $9,284,300
Aggregate of sales for which no price has
been reportedil (from m unicipalities)... 2,303,466
Total sales for May.......................... .......... $11,587,766
* Less % per cent commission, t Less 1 per cent commission.

ments above named are Ten Dollars within the United
Brooklyn, N. Y.—Governor Morton has signed a bill which
States and Twelve Dollars in Europe, whicn in both
provides for the consolidation of Kings County and the City
cases includes postage.
of Brooklyn after January t, 1896. The finances of the
county will be turned over to the care of the city officials.

Terms of Advertising—(Per Inch space.)
One t*™*.............................. $3 50 I Tnree Months (13 times)..$25 00
One Month
(4 times).. 11 00 Six Months
(26 tim es).. 43 00
Two Months
(8 times).. 18 00 I Twelve Months (52 times).. 58 00
(The above terms for one month and upward are for standing cards.)

T b e p u rp o se o f tb is S ta te a n d City D e p a r tm e n t

Meadville, Pa.—The voters of Meadville will be called
upon to decide on the proposition to offer the present water
company $105,000 for its plant on condition that the same be
deliveredby October 1.
Quincy, 111.—It is reported that five six per cent railroadaid ymds of the city of Quincy, III., of the denomination of
bach, have been discovered to be a forgery. They mati#fe January 1, 1900, and are held by a bond firm in New
i>rk City.
_______

is to furnish our subscribers with a weekly addition to and
continuation of the S tate and C it y S upplement . In other
words, with the new facts we shall give, the amplifications
anil corrections we shall publish, and the municipal laws we
phnil analyze in the “ State and City Department,” we expect
to bring doVn weekly the information contained in the
B o n d P r o p o sa ls a n d N e g o tia tio n s .—We have re­
S tate and Cit y Supplement to as near the current date as
served through the week the following notices of bonds
possible. Hence every Subscriber will at all times possess a
recently negotiated and bonds offered and to be offered for
complete and fresh cyclopaedia of information respecting
sale.
Municipal Debts.

_____________________________

M U N IC IPAL BOND SALES IN MAY.
Tbe total amount of new State and municipal bonds
reported to tbe C h r o n ic l e , as issued and. sold in tbe
month of May, is shown by tbe table below as $11,587,766. In tbe corresponding month of last year tbe total
was $14,349,410, in May, 1893, it was $4,093,969, and
in 1892 it was $7,856,860.
Tbe prices reported last month were as a rule con­
siderably higher than those of a year ago. The State
of Massachusetts for instance marketed a 3£ per cent
25 year bond at 11013, while in May, 1894, a loan
bearing the same rate of interest and having forty
years to run brought only 109.
The strength of the
market is also indicated by the large number of bond
houses which were represented at almost every sale of
the more desirable issues.
We have had no reports during the month of loans
whioh have been withdrawn for want of bids.
In the following table we give the prices which were
paid for May loans to the amount of $9,284,300,
issued by 35 municipalities. The aggregate of sales for
which no price was reported is $2,303,466 and the
total sales for the month $11,587,766.
In the case of
each loan reference is made to the page of the C h r o n ­
icl e where a full account of the sales is given.
M a y B o n d Sa l e s

Bate.
. 4
. 4
. 5
. 412
. 5
.. 4 H
.. 6
.. 3*2
9 7 9 ..
Hamilton Co., Ohio..
8 4 8 ..
Hennepin Co., Minn,
9 8 0 ..
Holland, Mich.
. 4
.. 5
9 4 0 ..Logan, Ohio.
.. 4
.. 3*2
r. 5

Page.

Location.




Maturity.
1902-1909
1896-1905
1905
1905
June 1,1915
1905-Ï914
May 1,1915
1915
1925
July 1,1915
1905-1915
May 2,1925
Apr. 1,1920
June 1,1898

Amount.
$56,000
40,000
10,000
50,000
50,000
250,000
20,000
290,000
4=2,000
300,000
18,000
200,000
20,000
60,000
150,000
400,000
25,500

Award.
1051s
101-61
100-3
101-518
108-291
4*4 basis
100100-11
102-142
108-7833
192-905
104-3125
108-11
103-2
107-555
11013
103-45

A tlantic City, N. J .—Proposals will be received until June
14, 1895, by Emery D. Ireland, City Clerk, for the purchase of
$775,000 of 5 per cent gold-bearing water bonds. Interest will
be payable semi-annually in June and December and the prin­
cipal will mature in 30 years.
Austin, Texas.—The people of Austin will vote June 24 on
issuing $200,000 of water and light bonds.
Bedford, Iow a.—An election will be held in thin town to
vote on issuing $15,000 of water-works bonds.
Bedford, Pa.—An election will be held at Bedford to vote
on issuing $26,000 of water-works bonds.
Beltzhoover, Pa.—Bids will be received until June 22 for
the purchase of 5 4-10 per cent improvement bonds to the
amount of $17,000.
Binghamton, N. Y.—Bonds of this city have recently been
authorized for the construction of a new reservoir.
Bloomsburg, Pa.—Bonds of this municipality to the
amount of $79,000 will soon be voted on.
Boone School District, la.—Twenty-seven thousand dol­
lars of 5 per cent bonds of this district have been sold to
Messrs. N. W . Harris Sc Co.
Buffalo, N. Y.—Proposals will be received until June 18,
1895, by Erastus C. Knight, City Comptroller, for the pur­
chase of $250,000 of 3 ^ per cent Buffalo school bondi. The
securities are dated June 1, 1895, interest will be payable
semi-annually on February 1 and August 1, and the principal
will mature at the rate of one-twentieth yearly, beginning
June 1, 1896, both principal and interest to be payable at the
office of the City Comptroller or at the Galla m National
Bank, New York, as the purchaser may desire. Proposals
must state the price per one hundred dollars; also at which
place it is desired to have the bonds made payable.
The city’s bonded debt on May 1, 1895, less bonds held in
sinking funds, was $11,782,214 85. The assessed valuation
for 1895 is $220,064,300.
Cambridge, Ohio.—A vote taken June 3 on issuing $60,000
o f water-works bonds resulted iu favor of the proposition.
Canton, Ohio.—Below is a list of the bids received on June
6 for $8,000 of Franklin Street improvement bonds and $2,400
of West Eighth Street improvement bonds:
W . J. Hayes & Sons, Cleveland, Ohio, $10,400, premium
$379 and accrued interest to date of delivery.
Dietz, Denison & Prior, Cleveland, Ohio, $10,400, premium
$261 and accrued interest.
Seasongood & Mayer, Cincinnati, Ohio, $10,400, premium
$184 50 and accrued interest.
S.
A. Kean, Chicago, 111., $10,400, premium $101 65 and
accrued interest.
Central Savings Bank, Canton, Ohio, $10,400, premium
$38 50 and accrued interest.
The securities bear interest at the rate of 5 per cent and run
I from one to six years.

June 15, 1895.]

THE CHRONICLE.

Caroline County, Md.—On June 4th $5,000 of 5 per cent
county bonds were sold at 102*60. The securities are dated
April 1, 1895, interest is payable semi-annually on April 1 and
October 1, and principal will mature April 1, 1900.

1071

York City. In the notice given last week only the Third Na­
tional Bank was mentioned.
The official advertisement o f this bond call will be found
elsewhere in this Department

Chatfield, Minn.—Water works bonds to the amount of
Los Angeles, Cal.—Proposals will be received until June
$3,000 have been voted.
24, 1895. by C. A. Luchenbach, City Clerk, for the purchase
Chicago, 111.—A list of the bids received on June 5 for of $306,000 of public school improvement bonds of the denomi­
$2,748,000 of 4 per cent refunding gold bonds of Chicago is as nation of $1,000 each, $30,000 of water system improvement
follows :
bonds of the denomination of $750 each and $40,000 of central
Bid.
Speyer & Co........................................................................................ 104*645 police station improvement bonds of the denomination of
North American Loan & Trust Co..... ............ ............................... 103*819 $1,000 each. The school loan will be divided into seven blocks of
Illioois Trust & 8avings B a n k .............. ........................................ 102*17
40 bonds each and one block of 26 bonds; the water loan into
Lobdell, Farwell & C o...................................................................... 103*541 one block of 40 bonds and the police station loan into one
First National Bank..........................................................................102*84
block o f 40 bonds, and beginning July 1, 1896, one bond of
The securities will be dated July 1, 1895, interest will be each block will become due yearly. The securities are to be
payable semi annually at the American Exchange National dated July 1,1895, and interest at the rate of 4J^ per cent will
Bank, New York City, and the principal will mature in 20 be payable semi-annually, both principal and interest to be
years. They are to be issued to refund $1,485,000 of water payable in gold coin at the Chemical National Bank, New
bonds and $1,263,000 of river improvement bonds maturing York.
July 1, 1895.
Madisonvllle, Ohio.—Proposals will be received until June
Chicopee, Mass.—City Clerk John D. White reports to the 29, 1895, by Bennett Carter, Village Clerk, for the purchase of
C hronicle that the temporary loan of $20,000 mentioned in $1,036 50 of 6 per cent coupon bonds to be issued in anticipa­
our last issue has already been negotiated.
tion of the collection of a special tax. The securities will be
Cincinnati, Ohio.—Bonds of this city to the amount of dated June 27, 1895, interest will be payable annually at the
German National Bank of Cincinnati, and the principal will
$50,000 will soon be issued for the construction of a bridge.
mature at the rate of $103*65 yearly in from one to ten yearst
College Point, N. Y.—On June 3J, $11,000 of 4 per cent 20Manistique, M ich.—The people of this municipality will
year College Point water bonds were sold to Storrs & Smith probably vote on issuing $50,000 of bonds for water works.
at 101*51. The following is a list of the bids reserved for the
Miles City, M ont.—This city will issue water-works and
loan:
electric-light bonds to the amount of $20,000.
College Point Savings B a n k ....................................... .................... 100*00
Mississippi.—The State of Mississippi will issue 3 per oen
Walter Stanton & Co., New Y ork............... ..................................... 100*09
Tt. W. Morrison. New York......................................... ..............1 0 0 * 3 8 warrants to the amount of $150,000.
Benwell & Everitt, New York.............................................................100*50
Moberly, Mo.— A call has been made for the payment of
■Storrs & Smith, New York............................... ............................... ..101*51
funding bonds of the City of Moberly for $500 each, dated
Colorado Springs, Col.—Proposals will be received until August 1, 1883, and numbered as follows:
June 24 for the purchase of $65,000 of 5 per cent 5 to 15 year
Nos 26 to 95 inclusive, 101 to 137 inclusive, and 140, 141, 142,143
gold school and $15,000 of 5 per cent 15-year sewer bonds.
145, 146. 147, 148, 149, 150, 151,152. 153, 154, 155, 156, 157, 181
182,
184, 185, 180, 187, 188, 189, 201. 202, 212, 213, 214, 215
Dallas, Texas.—Five per cent new general improvement 216, 183,
217, 218, 219, 220, 221, 222, 223, 224, 225 and 227.
■bonds of this city to the amount of $200,000 have been sold to
The securities will be paid June 15, 1895, on presentation at
Messrs. Rudolph Kleybolte & Co. of Cincinnati. The loan
will mature in 40 years, and both principal and interest will the State Bank of St. Louis.
Monaca, Pa.—The people of Monaca have voted 206 to 19 in
■be payable in gold coin.
favor of issuing $30,000 of water-works bonds.
Dabuque, Iowa.—On June 10, 1895, the city of Dubuque
Montpelier, Ohio.—Twelve bids were received for $31,000
sold $200,000 of 4 per cent gold refunding bonds to N. W.
Harris & Co., of Chicago, at 104*34 and accrued interest. of water-works and electric-light bonds of this city recently
The securities will be dated Jan. 1, 1896, interest will be pay­ advertised for sale. Tbe highest bid was that of Messrs.
able semi-annually and the principal will mature in twenty Spitzer & Co. of Toledo, who offered a premium of $3,261.
Newton, Mass.—It is reported that this city has sold $80,000
years.
of bou'evard bonds and $52,000 of highway bonds to Messrs.
Elkhorn, Wis.—Jay F. Lyon, Village Clerk, reports to the Lee, Higginson & Co. at 106*511, and $40,000 of school bonds
C hronicle that an election held June 4 to vote on issuing to Messrs. N. W . Harris & Co. at 106*577. These prices in­
$18,000 of water-works bonds resulted in favor of the proposi­ clude premium and accrued interest from April 1, 1895. The
tion by a vote of 253 to 125. The rate per cent, date of ma­ securities bear interest at the rate of 4 per cent and run 20
turity, &c., of the issue have not yet been determined.
years.
Norwalk, Conn.—It is reported that on June 10, 1895, the
Fairfield, Me.—Proposals will be received until June 30
for the purchase of 4 per cent funding bonds to the amount City of Norwalk sold $100,000 of 4 per cent bonds to Messrs.
o f $30,000. The loan will mature at the rate of $2,000 yearly Blair & Co., of New York, at 108 03 and accrued interest.
Fifty thousand dollars of the amount are issued for water and
after 10 years.
$50,000 for municipal purposes. The securities are to be dated
Fort Madison Independent School District, Iowa.—Bids July 1,1895, interest will be payable S9mi-annuallv in Janu­
will be received until July 20 for the purchase of 4J£.per cent ary and July at the American Exchange National Bank, New
bonds to the amount of $35,000. The loan will run 20 years, York, and the principal will mature May 1, 1935. Both prin­
Franklin, Minn.—Water-works bonds to the amount of cipal and interest are payable in gold coin.
$4,000 have been voted.
Norwood, Ohio.—Proposals will be received until July 13,
Glen Coye, N. Y.—An election will be held at Glen Cove to 1895, by W. E. Wichgar, Village Clerk, for the purchase of
vote on issuing bonds to the amount of $375,000 for road im ­ $2,323 50 of 6 per cent Monroe Avenue improvement bonds.
The securities will be dated June 20, 1895, and will mature in
provements.
equal instalments in from one to ten years.
Hull, Mass.—It is reported that this municipality has voted
Omaha, Neb.—On June 10,1895, the city of Omaha sold
to issue 5 per cent sinking fund electric-light bonds to the
$195,000 of 5 per cent alley paving and paving, curbing and
amount of $60,000. The bonds will mature in 1912.
grading bonds to E. H. Gay Sc Co. of Boston for a premium
Jackson, Tenn.—A vote will be taken August 22 on issuing of $10,609. The next highest bid was that of Blake Bro 3. &
$10,000 of electric-light bonds.
Co. of Boston, offering a premium of $10,891, and th° lowest
Kenton, Ohio.—Water-works bonds to the amount of bid came from Green Sc Van Duyn of Lincoln, offering a
$10,000 have been sold to the Kenton National Bank for premium of $6,8u0. The securities are dated May 1, 1895, and
$10,331.
run from five to nine years, averaging seven years.
La Crosse, Wis.—On June 1,1895, the city of La Crosse
Fainted Post, N. Y.—The voters of Painted Post decided at
sold $75,000 of 5 per cent water-works bonds, $25,000 to the an election held June 10 not to issue water-works bonds for
Commissioners of the Sinking Fund at par and $50,000 to $20, 000.
Messrs. Trowbridge & Co. at 111*151. The securities are
Pasadena City School District, Cal.—F. P. Boynton, Dis­
dated June 1, 1895; interest will be payable semi-annually on trict Clerk, reports to the C h r o n ic l e that an election held
June 1 and December 1, and the principal will mature June May 21 to vote on issuing bonds resulted in favor of the propo­
1, 1915, with an option of call after June 1, 1905, both princi­ sition by a vote of 302 to 22. The amount of bonds to be
pal and interest to be payable at the office of the City Treas­ issued is $5,000, bearing interest at the rate of 6 per cent, pay­
urer.
able annually, and maturing part yearly in from one to ten
Lansing, Mich.—The people of Lansing will vote June 18 years. They will be offered for sale at an early date by th&
on issuing $25,000 of 4 percent bridge bonds.
County Board of Supervisors.
~
Pawling, N. Y.—Proposals will be received until June 2 3 ,^
Lanrens, N. Y.—Water-works bonds of this village to the
1895, by F. Olmstead, Secretary of Board of Water Commis­
amount of $8,000 have been voted.
sioners, for the purchase of $35,000 of 4 per centcouoon water
Lewis and Clark County, Mont.—Notice is given by the bonds. Interest will be payable semi-annually on January 1
Board of County Commissioners of Lewis and Clark County, and July 1 and the principal will mature at the rate of $1,000
Montana, that the $190,000 of 6 per cent county court house yearly from July 1, 1901, to July 1, 1915, then at the rate of
bonds called for payment on July 1,1895, will be redeemed $2,000 yearly from July 1, 1916, to July 1, 1925. Principal
and interest will be payable at the Fifth Avenue Bank, New
with accrued interest to that date, either at the Third Na­ York City. The village has at present no indebtedness of any
tional Bank or the office o f Messrs. Kountze Brothers, New kind.




1072

THE CHRONICLE.

[ Vol . LX,

Pendleton County, W. Y a —The County Court of Pendleton payable semi-annually (J&J) ac the office of the City Treas­
County has rescinded the order for an election to vote on the urer, and the principal will mature July 1, 1905. Both prin­
question of issuing $40,000 of railroad aid bonds.
cipal and interest will be payable in gold. The validity of
Peoria, 111.—Proposals will be received until July 10,1895, the act of the Legislature authorizing these sewer bonds has
at the office of City Comptroller Jacob Heim for the purchase of been passed upon by the Supreme Court of Oregon, and the
special assessment bonds issued for street paving and the con­ bonds are not “ within or any part of the limitation by law
struction o f the West Bluff sewer system, to the amount of as to the indebtedness” of the city.
$420,000, more or less. The bonds will draw 6 per cent inter­
Both o f the above-described loans are advertised elsewhere
est and mature in one, two, three, four, five and six years.
in this Departm ent.
The official notice o f this sale will be found among the ad­
Providence, R. I.—D. L. D. Granger, City Treasurer, gives
vertisements elsewhere in this Departm ent.
notice that he will purchase any amount of sterling bonds of
Pleasant Township, Putnam’ Co., Ohio.—Proposals will the city of Providence due July 1, 1895, if offered imme­
be received until June 22, 1895, by J. B. Sprague, Township diately.
Clerk, for the purchase of $18,000 of 0 per cent refunding
Remsen, Iow a.—F. J. Reichmann, City Treasurer, reports
bonds. Interest will be payable semi-annually and $2,500 of to the Chronicle that 6 per cent 20-year water-works bonds
the principal will mature March 1, 1897, $2,500 September 1, of Remsen to the amount of $3,900 have been voted and will
1897, $2,500 March 1, 1899, $2,500 September 1, 1899, and soon be offered for sale. The city has at present no debt of
$3,000 March 1, 1900.
any kind. The population, according to local figures, is 800.
Port Clinton, Ohio.—J. H. Fans, Village Clerk, will receive
Roseau County, Minn.—Proposals will be received until
proposals until July 2 for the purchase of additional water July 8, 1891, bv the Board of County Commissioners for the
bonds to the amount of $7,000.
purchase of $8,000 of 6 per cent county bonds. Interest will
Portland, Or.—Proposals will be received by the Bridge be payable annually in New York and the principal will ma­
Committee of the city of Portland until June 24 for $200,000 ture in 10 years.
Seattle School District No. 1, Wash.—On June 10, 1895,
of 5 per cent bridge bonds, dated April 1,1895, and to mature
April 1, 1925. Interest will be payable on April 1 and October this district sold $400,000 of 5 per cent coupon funding bonds
to N. W . Harris & Co. at 103*82. The securities will be dated
1, and both principal and interest will be payable in gold. July 1, 1895, interest will be payable semi-annually, and the
The validity of the bonds and the authority of the Bridge principal will mature June 30, 1915.
Committee to issue and sell them have been passed upon by
Sherburne, Minn.—H. H. McGovern, Village Recorder,
the Supreme Court of Oregon, and therefore the committee will receive proposals until June 20 for the purchase of $10,000
of water works bonds.
refuse to accept any conditional bids.
Springfield, Neb.—The citizens of Springfield have]voted
Proposals will also be received until June 29 by the Com­
down an issue of bonds for water-works.
mittee on Ways and Means of the Portland Common Council
Sturgis, S. D.—W e are notified by one of the city officials
for $28,118 49 of 6 per cent sewer-improvement bonds. The that 7 per cent 15-year bonds of Sturgis to the amount of
latter securities will be dated July 1, 1895, interest will b e , $7,000 will soon be offered for sale.

NEW

LOANS.

$ 2 0 0 ,0 0 0

N EW LOANS

N E W LOAN S.

City of Portland, Ore.,

8 2 0 0 ,0 0 0

City of Portland, Ore., 6 Per Cent Improvement City of Dallas, Texas,
Bonds.

5 Per Cent Bridge Bonds.
s

OFFICE OF

TH E BRIDGE COMMITTEE
OF TH E CITY OF PORTLAN D. OREGON.
Sealed proposals will be received by the Bridge
Committee o f the City o f Portland until Monday,
June 24th, 1895, at 12 o ’clock noon, fo r the purchase
o f $200,000, or so much th ereof as said Bridge Com­
m ittee shall elect to issue and dispose of, o f the
bonds o f said city, in denom inations o f $ l,0i0
each, dated A pril 1,1895, payable thirty years from
date, and bearing interest at the rate o f five per
cent per annum, payable on the first days o f April
and October o f each year, principal and Interest
payable in United States Gold Coin at the office o f
th e Treasurer o f said city. Said bonds to be paid
fo r and delivered to the purchaser at the City o f
Portland, the bidder to pay the accrued Interest
from April 1st to date o f delivery, in addition to the
price bid.
These bonds are issued under authority o f an A ct
o f the Legislative Assem bly o f the State o f Oregon,
approved February 21,1895, and will be issued and
delivered with coupons attached fo r interest from
A pril 1,1895.
E very bid must be accompanied by an approved
certified check on some responsible bank fo r five
p ercen t o f the par value o f the amount o f the bonds
bid for, and the successful bidder will be required to
deposit, within forty-eight hours sfter the award o f
th e contract, an approved certified check on some
responsible bank o f said City o f Portland, fo r five
per cent o f the par value o f the am ount o f the
bonds bid for, payable at the order o f the Clerk o f
the Bridge Committee o f said City o f Portland, Ore­
gon, as liquidated damages in case the bidder should
¿Ail or neglect to take and pay fo r the bonds accord
n g to the terms o f the proposal and the contract.
T h e validity o f these bonds and the authority o f
th e com m ittee t* issue and sell the same having
been fully affirmed by th e Supreme Court o f the
State, no conditional bids will be received. The
flight to reject any and all bids is reserved.
Sealed envelopes containing proposals should be
addressed to the undersignedd at his office, No. 510
Chamber o f Commerce Building, Portland, Oregon,
and marked “ Proposals fo r Purchase o f Bridge
B onds.”
By order o f the Bridge Committee.
J. V . BEACH, Clerk Bridge Committee.

TXT AT?T> A M T Q

selected

w ash

VV - f A J V r w x l l 1 Ö I N G T O N S T A T E

-

COUNTY, C ITY AN D SCHOOL.

•INO. P . D O R R & CO., Seattle, W ash .




Sealed proposals will be received by the under­
signed at the office o f the A uditor o f the City o f
Portland, until Saturday, June 29, 1895, at 2 o ’clock
P. M „ fo r the whole or any part o f Twenty-eight
Thousand One Hundred and Eighteen and 49-100
($28,118 19) Dollars o f the Bonds o f the City o f P ort­
land, in dene minations o f n ot less than Two H un­
dred and F ifty Dollars, to be dated July 1, 1895,
payable ten years from date and bearing interest at
the rate o f 6 per oent per annum, payable on the
first days o f January and July o f each year. Prin­
cipal and interest payable in U. S. G old Coin at the
office o f the Treasurer o f said city.
These Bonds are issued under authority o f an A ct
o f the Legislature o f the State o f Oregon, passed
February 16,1893, entitled “ A n A ct to provide fo r
the issuance o f Bonds fo r the improvem ent o f
streets and laying o f sewers in incorporated cities,
and fo r the payment o f the cost o f such im prove­
ments and laying o f sewers by instalments,” the
proceeds to be used fo r the pa* ment in part fo r the
construction o f the East A lder and other streets
sewer, and will be delivered with coupons attached
fo r interest from July 1,1895.
The validity o f the A ct o f the Legislature a fore­
said has been passed upon by the Supreme Court o f
the State o f Oregon.
The successful bidder will be required to deposit
within forty-eight hours after the award o f the con ­
tract an approved certified check fo r five per cent
o f the par value o f the amount o f the bonds bid for,
payable to the order o f the A uditor o f the City o f
Portland, Oregon, as liquidated damages in case the
bidder should fail or neglect to take and pay fo r the
bonds according to the terms o f the proposal.
The right to reject any and all bids is reserved.
The sealed envelopes containing proposals should
be addressed care o f the City Auditor, and marked
“ Proposals fo r the Purchase o f Im provem ent
Bonds.”
By order o f the Common Council.
W . B. H A L L ,
C. E. RUMELIN,
H . FLECKEN STEIN,
Comm ittee on Ways and Means,
P o r t l a n d , Or e g o n , June 7th, 1895.

A U G U S T U S FL O Y D ,
D E A L E R IN

IN V E S T M E N T

S E C U R ITIE S ,

3 2 P IN E S T R E E T , N E W Y O R K .
STREET R A IL W A Y BONDS BOUGHT and SOLD

40-Year 5 Per Cent Water
Works Gold Bonds.

D a te d J u n e 1 st, 1 8 9 5 . P a y a b le J u n e 1st,
1 9 3 5 . P r in c ip a l a n d S e m i-a n n u a l
I n t e r e s t P a y a b le a t S e c u r ity Sc
* T r u s t C o ., N ew Y o r k C ity .
Assessed valuation...................... .
Real valuation.............................' ................. $22,000,000
50,000,000
Total debt, including this l8sue.$/,{89,000
Less water deb t........... $661,non
Less sinking fun ds........
16,670 706,076
'letaeD t...... y u .......... ya- - ........................ $1,482,924
f Census 1890....................
38 067
I Estim ated..............................65|000
P opulation ., -i "h to h includes several suburbs
j taken in since 1890, and which ac­
counts fo r the large increase i n p o d ( ulatlon.
Under provisions o f the city charter, debt
is limited t o ....................................................$2,500,000
The City o f Dallas owns property valued at. 1,600,000
Under the law o f Texas the a t'orn ey General o f
the State m ast pass on the legality <>t all bonds, and
after his approv.l the municipality and the inhab­
itants thereof are precluded from repudiating or
questioning the issue.
PRICES AND PARTICULARS UPON
APPLICATION.

Rudolph Kleybolte&Co.
BAN KERS,
C IN C IN N A T I, O H IO .

BOND C ALL.

Choteau County, Mont.
Office of th e T r e a s . of Ch o t e a h Co ., M ont ?
f o r t B en ton , May 28,1895.
j
On the 23d day o f June, 1895,1 will pay the fo l­
lowing-numbered Choteau County Bonds, to w it:
No. Fifty-Three and No. Fifty-Four (Nos. 53 & 64).
Interest on same will cease on and after said date.
jn o . c. d u f f ;
Treasurer o f Choteau County. Montana.

B O N D jC A L L .
THE
C IT Y
TREASURER
OF
DES
M O I N E S , I O W A , will pay the follow ing Bonds
o f said city on or after July 1st, 1896: Second
Renewed Funding and Judgment Bonds, 18 Bonds
Nos. 57 to 08, both inclusive
D es M o ines , I a „ May 24,1895.
C. A . RYDEN, City Treasurer.

Junk

1073

THE CHRONICLE.

15, 1895.1

Watervllle, Me.—The citizens of WaterviUe have voted
down the second time a proposition to issue $50,000 of railroad
aid bonds.
West Conshohocken, Pa.—George W . Davis, Borough
Treasurer, reports to the C h r o n ic l e that an eleotion held
June 11 to vote on issuing $6,000 of 5 per cent bonds resulted
in favor o f the proposition by a vote of 174 to 21. The loan
will probably be offered at once, and the Treasurer thinks
that it will sell at about 108.
Wilmington, Del.—It is reported that on June 10,1895, the
city of Wilmington sold $125,000 of 4 per cent sinking fund
bonds to the Security Trust Company of Wilmington at 108.
Interest is payable semi-annually on April 1 and October 1,
and the principal is redeemable as follows: Series 186, for
$2,COO, October 1, 1922; series 137, for $55,650, April 1, 1923;
series 138, for $57,300, October 1, 1923, and series 139, for
$9,150, April 1,1924.
Windom, M inn—Bonds of this city have recently been
voted for water-works, electric lights, etc.

LOANS—

When Due.

V il l a g e Se w e r B o n d s —

5s, J&J, 25 ,00 0 .... July 1, 1902
6s, F&A, $72,000. .Aug.lO, 1896 ($5,OOOdue yearly) to July 1, 1906
Lakeside Bonds.
6s, M&S, 178,000..Sept. 1, 1896
___
G e n e r a l F und —
5s, J&J, 100,000.. July 1, 1907
5s, M&N, 100,000..Nov. 1, 1912 6s, J&J, $85,000.......July 1, 1901
Tow n H all5s, M&S, 185,000.. Sept. 1, 1918
5s, M&N, 200,000..Nov. 1, 1923 78, J&D, $3,000.......Deo. 1, 1895
Fond du Lae Bonds.
4 1ss, J&J, 100,000.. Jan. 1, 1920
4^8, M&N, 100,000..Nov. 1, 1922 7 s , .......$10,000........... Oot. 1,1903
New Duluth Bonds.
P e r m a n e n t im p r o v e m e n t —
5s, J&J, $100,000....July 1, 1907 6s......... $47,000.........Mar. 1,1914
West Duluth Bonds.
P a r k B on ds48, J&J, $70,000....... July 1,1920 6 s ,. . . . , $30,000...... Feb. 1,1910
4s, J&J, 242,000....... Jan. 1,1921 6 s ,........ 115,000.......July 15,1911
6s......... 20,000....... June 13,1913
R e f u n d in g B o n d s —
6s, J&J, 138,250.... Jan. 1, 1908
INTEREST on the Lakeside town ball bonds is payable in Duluth;
on the general fund, permanent, park, refunding and village sewer
bonds at the Amerioan Exchange National Bank, New York.
T O T A L DEBT, Et c .—The subjoined statement shows Duluth’ s
total bonded debt and the total floating debt on each of the dates
named.
Feb. 18, ’95. Feb. 15, ’94. Feb. 15, ’93. Feb. 15, ’ 92.
Total bonded debt....$1,920,250 $1,865,150 $1,464,650 $1,276,650
G e n e r a l F un» B o n d s—

m __ai__ ^

1 oap or,o

AAA

250.000

The oity had a sinking fund on February 18,1895, of $32,667.
The $138,250 of 6 per cent refunding bonds are not striotly a liability
W e subjoin reports as to municipal debts received since of the city, as they were issued by the village of Duluth under a special
the last publication of our S t a t e a n d C i t y S u p p l e m e n t , A ct of the Legislature which provides that the County Commissioners
Some of these reports are wholly new and others cover items of St. Louis County shall levy a special tax to pay the interest on them
and provide a sinking fund to meet them at maturity.
of information additional to those given in the S u p p l e m e n t
DEBT LIMITATION.—The oity’ s debt is limited by its oharter to 5
and of interest to investors.
per cent of the assessed valuation.
ASSESSED VALU ATIO N .—The oity’s assessed valuation (which is
Brainerd School District, Minn.—Following is a state­
50 per cent of actual value) and tax rate have been as follows :
ment of the indebtedness, etc., of this district in May, 1895.
Assessed Tax Bate
Real
Personal
Total debt May, 1 8 9 5 .... $100,000 I Real valuation (est.). . . .$2,225,000
Valuation, per $1,000.
Tears.
Estate.
Property.
Tax valuation 1894........ 1,703,333 |Population 1895 (est.)........... 8,000 1894......................
$40,763,468
$28'30
$35,848,886
$4,914,577
48,875,562
.........
5,278,105
Duluth, Minn.—Ray T. Lewis, Mayor. This statement re­ 1893........................ 38,597,457
34,668,843
24*60
1892........................ 29,553,187
5,115,656
26,784,710
25-90
garding the indebtedness, etc., of the city of Duluth has been 1891........................ 22,217,398
4,567,321
23,766,653
4,381,100
corrected to February 18,1895, by means o f a special report 1890........................ 19,385,553
22,047,322
to the C h r o n ic l e from W . G. Ten Brook, Comptroller.
POPULATION.—In 1890 population was 33,115; in 1880itw as 838,
According to local figures the population is at present about 70,000.
Duluth is in St. Louis County.

STATE AND CITY DEBT CHANGES.

N E W LOANS.

N EW LOANS.

BOND CALL.

850.000

Lewis & Clarke County, Mont.
o f f ic e o f c o u n t y c l e r k a n d r e c o r d e r ,

Monroe County, Wis,, MUNICIPAL
FIVE PER C E N T
Court-House Bonds.

LE W IS AN D CLAR K E COUNTY.
TO W H O M ’ IT M A Y CONCERN:
Sparta , Wis., May 2d, 1895.
The Board o f County Commissioners o f Lewis and
Bids will be received until July 1st, 1895, at 1
Clarke County, in*the State o f Montana, by virtue
o f a resolution dulyladopted, do hereby give notice 0’dock p. m., by George P. Stevens, CountyiTreas
that on the first daylof July, 1895, they will redeem urer of Monroe County, Wisconsin, for the purhase of Fifty Thousand Dollars ($50,000) of
and pay off. together with the acc* ued interest due
on that date, the outstanding bonds o f said county Monroe County Court-House Bonds.
The bonds wifi be dated July 15th, 1896. Five per
known as (C ourt;House (Bonds, to the amount o f
$190,000, at the Third National Bank, in the City o f cent annual Interest will be payable at the office of
New York. Said Court House Bonds being o f two the said County Treasurer at Sparta, Wisconsin.
issues, the first o f $150,000, due July 1st, 1905, op­ The first payment of interest will be from date of
tional after July 1st, 1891, and the second o f $40,000) sane to March 1st, 1896.
The principal of the bonds will mature at the
due May 1st, 1907, optional after May 1st, 1893; both
issues hearing Interest at the rate o f six per centum rate of Five Thousand dollars ($5,000) annually on
per annum, payable semi annually on the first days Maroh 1st, 1896, to 1905, both inclusive. A speoial
o f January and July, and both series being issued tax is provided for to pay the interest and prindpal
for the purpose o f paying for the erection o f a Court as the same shall beoome due.
GEORGE P. STEVENS, Co. Treasurer.
House in said county, under authority o f the laws
o f Montana.
The said Court H ouse Bonds being now due and
payable at the pleasure o f Lewis and Clarke County,
the holders thereof are notified that interest on
these bonds will cease on and after July 1st, 1895,
but that the County Treasurer will at all times
thereafter,be ready to redeem the same on presen­
tation, at their face value, and accrued Interest to
July 1st,'1895.

8100.000

BOSTON, MASS.,

By order of the Board of County Commissioners.
Attest, J. 8. TOOKER, County Clerk.

N E W LO A N S .

BONDS

FOE INVESTMENT.
A R T IG U L A R S UPON A P P L IC A T IO N .

MlCMBf as OF THE NEW YORK AND BOSTON
STOCK EXCHANGES.
DE ALERS IN COMMERCIAL PAPER.

Blake Brothers & Co*,
3 8 S T A T E ST R E E T ,] {BOSTON.
5

N A SSA U

S T .. N E W

YORK.

Registered Park 4 Per Cent
Bonds,
M aturing J a n u a ry, 1 0 3 5.

H e l e n a , M o n t a n a , June 1st, 1895.

“ Principal and interest of above bonds will be PRICE AND FURTHER PARTICULARS UPON
APPLICATION.
paid on said date at either the Third National Bank
as per above advertisement or at Kountze Bros, at
the option of the holder.”
By order of the Board of County Commissioners.
Attest, J. 8. TOOKER, County Clerk.
3 W A L L S T R E E T , N. Y .

Farson, Leach & Co.,

City of Peoria, Illinois, C. H. White & Co.,
6 Per Cent Special Assessment

BANKERS,

Bonds.

72 B R O A D W A Y , N E W Y O R K .

MUNICIPAL BONDS
For Investment.
Street, Wykes & Co.,
44 W A L L STREET,
M U N ICIPAL AND

-

NEW Y O R K
R A IL R O A D

Proposals will be receeived up to noon July 10th,
1895, at the office of the City Comptroller, for the
purchase of bonds issued for street paving, and the City, County and First Mortgage And a ll L oca l Securities B ought and Sold.
construction of the West Bluff Sewer System, to the
NEW Y O R K , B r' o O K LY N AND JE R ­
amount of $420,000 00, more or less. Bonds draw 6%
Railroad Bonds.
SEY C IT Y BONDS A S P E C IA L TY .
per cent interest and mature in one, two, three
four, five and six years.

BONDS

Further particulars may be had upon application.




JACOB HEIM, Comptroller.

L IS T S R A I L E D .

W. E. R. SMITH,

16 B R O A D S T R E B T ,

.

NBW Y O R K .

1074

THE CHRONICLE.

[V ol.

LX,

Choteau County, Mont.—E. Frank Sayre, County Clerk. Total debt May, 1895___ $62,000 Population in 1890 was......... 907
Tax valuation 1894........ 701,845 Populationin 1895 (est.).... 2,200
Below is a statement o f the finances of this county, which Real valuation................ 1,500,000
has been corrected by means of an official report to the
Lancaster County, S. C.—Following is a statement of the
C h r o n ic l e . Bonds numbered 53 and 54 will be paid on or financial condition of Lancaster County, together with two
after June 23, 1895.
townships of the county.
County seat is Fort Benton.
County seat is Lancaster.
LOANSWhen Due.
County B onds—
7s, semi-an., $18,500 .July 1,1900
Subject to call after July 1,1895
08, semi-an., $108,000. J uly 1,1911
Subject to call after July 1,1901
Int. payable at Co. Tr. & N. Y. City.
Bonaeadebt June 1 /9 5 .. $126,500

Floating debt.................. $48,643
Total debt............. ......... 175,143
Sinking fund....................
23,143
Net debt June 1 ,1 8 9 5 ... 152,000
Tax valuation 1894.........4,101,565
Total tax (per $1,000)___
20-00
Population in 1890 was.........4,741
Population in 1880 was.........3,058

LOANSWhen Due. Tax valuation 1894-----$2,099,926
Total tax (per $1,000).......... $13'00
Ch e r a w & C h e s t e r R R .—
7s, July...............................30 years Population in 1890 was....... 20,761
6s, Feb., $94,600... .Apr. 26,1905 Population in 1880 was....... 16,903
Total debt June 1,-1895. .$148,000
INTEREST is payable at Lancaster Court House.

Laconia, N. H.—C. A. Busiel, Mayor. Below is a statement
Emporia City, Kan.—James Smith, M ayor; H. S. A lex­ of the indebtedness, etc., of the city of Laconia, which has

ander, Clerk. The figures of indebtedness given below h ave
been corrected to May, 1895.
County seat of Lyon County.

LOANS—
When Due. 5s, Nov., $162,000.. -Nov. 17,1906
F unding—
Bonded debt May, 1895. .$276,290
5s, Mar., $5,800....... March, 1904
City has no floating debt.
5s, July, 1 5 ,0 0 0 ...... July 1,1910 Water debt (included).... $227,000
R efunding—
Tax valuation 1894........ 2,184,359
7s, Sept., $4,000....... Sept. 1,1902
Assessment is ^ actual value.
6s, . . . . 12,000....... Jan. 1,1906 Total tax (per $1,000).........$35-00
6s, Sept., 27,500.......Sept. 1,1912 Population in 1890 w as.........7,551
Water Works —
Population in 1880 w as.........4,631
7s, Dec., $50,000___Dec. 31,1899 Population’95 (city census). 10,080
INTEREST on the water-works bonds, on the refunding bonds due
in 1906 and on the funding bonds due in 1910 is payable in New Y o rk ;
on the funding bonds due in 1904 at Topeka, Kans.; on other bonds at
the City Treasury.

Meigs County, Ohio.—A statement of the finances of this
county in May, 1895, is as follows.
County seat is Pomeroy.
Total debt May, 1895..
$38,000 |Population in 1890 was..... 29,813
Tax valuation 1894
6,619,038 Population in 1880 was..... 32,325
Real valuation...............15,000,000 |Population in 1895 (est.)...38,000

Monrovia, Cal.—Below is a statement of the financial
condition of the city of Monrovia in May, 1895.
Monrovia is in Los Angeles County.

N E W LO A N S .

NEW

been corrected by means of the city’s annual report.
Laconia is in Belknap County.
When Due. Total debt.......................... $228,510
Available assets.............
22,788
Net debt Feb. 16,1895.. 205,722
SEw e r a n d F u n d in g B o n d s —
Tax valuation 1894.........4,741,722
4s. A&O, $115,000.......................... Tot’ltaxrate (per$l,000) $20'00
Population in 1890 was........ 6,143
Interest payable at Boston.
Bonded debt Feb. 16, ’95.$180,000 Population in 1880 w as........ 3,790
Floating debt.................... 48,510 Populationin 1894 (est.)...12,000
LOANS-

Se w e r B o n d s -

48, J&J, $65,000..............................

Wapello County, Iowa.—H. B. Wagers, Auditor. The
figures of indebtedness given in the following statement have
been corrected to May, 1895.
County seat is Ottumwa.
When Due. Total debt May, 1895.... $190,000
Sinking fund....................
17,500
Net debt May, 1895........ 172,500
Tax valuation, rea l------6,962,962
Tax valuation, personal.1,529,520
Total valuation 1894....... 8,492,482
Assessment about H actual value.
State tax (per $1,000) 1894..$2*50
County tax (per $1,000)........ 4 ‘00
Population in 1890 was.......30,426
Co u r t H o u s e B o n d s—
5s, J&J, $30,000.....July 1,1895
Populationin 1895 (est.) ...37,500
($10,000 due y ’rly) to July 1,1897
5s, J&J, $60,000.....July 1,1898
1 ($15,000 due y ’rly) to July 1,1901
LOAN S-

C o u n t y B on ds —

6s, A&O, $ 2 0 ,0 0 0 ....Oct. 1, ’97-98
Siibject to call.
6s, A&O, $12,000... Oct. 1,1899
Subject to call.
5s, A&O, $10,0 0 0 ....April 1,1901
Subject to call.
5s, A&O, $40,000..Apr. 1,1902-03

LOANS.

LO A N S .

High-Grade

NEW
INVESTM ENT L IST
JU S T PUBLISHED.
Will be mailed on application.

WHANN & SCHLESINGER,

BANKERS,
M U N IC IP A L B O N D S ,
il W a ll Street. New Y o rk .

NEW Y O R K .

BONDS.

C IT Y , COU NTY A N D S T A T E

BONDS,
Netting 4 to 7 Per Gent Interest.
We make a specialty of High-Class Securities
suitable for permanent investment.
Correspondence solicited.

SPRAIN, DICKINSON & CO., Bankers,

N. W. HARRIS & CO.,

BANKERS,
IS W A L L ST R E E T,
-

NEW

10 Wall Street, New York.

W. J. Hayes & Sons,
BANKERS,

Dealers in ^MUNICIPAL BONDS,

Long distance Telephone:
" U 4 C O R T L A N D T .”

Cable Address:
“

RUDIBATION, N. Y.t

Haight & Freese.

Street Railway Bonds, and other Lhigh grade In­ Bankers & Commission Stock Brokers,
vestments
S3 B R O A D W A Y , N E W Y O R K .
Municipal, County and State Bonds BOSTON, MASS.,
C leveland, Ohio,
Exchange Place.
3 1 1 -0 1 3 Su perior St. S T O C K S , B O N D S A N D G R A IN
F o r In vestors, T rust Funds and Savings
Cable Address. “KENNETH.”
Bought and Sold at 1-16 Commission.
Banks.
Special attention given to ou t-of-tow n a«
FOR s a l e b y
The Texas Land & Mortgage
counts.

Rudolph Kleybolte & Co.,
INVESTMENT B A N K E R S ,

C IN C IN N A TI, O.
D escriptive Lists M a iled on A pp lication .

W. N . Coler & Co.,

T BANSACT A GENERAL BANKING AND STOCK
Company, Ltd.
EXCHANGE BUSINESS.
C A P IT A L ,
. . .
$ 2 ,5 0 0 ,0 0 0
This Company is prepared to undertake the col­
INVESTMENT BONDS.
lection of loans and interest in Texas and to report
Aocounts of Banks, Bankers and Individuals
upon foreclosed and other properties. Apply to
received on favorable terms.
C. E. W E L L E S L E Y ,
P. O. Drawer M. M.,
NATIONAL BANK REFERENCES FURNISHED.
Dallas, T e x a s ,
Uptown Office, 1132 Broadway.
Or to the Office in England, 2 Suffolk Lane, London.

Fred. M. Smith,

H O L M E S & CO.,

7 0 SO UTH ST R E E T,

BUBEBS.

M U N IC IP A L BONDS
84 NASSAU STREET.

M O R T G A G E LOAN S
IN

TE X A S.
“ I P e r Cent and S P e r Cent Net.
NO COMMISSIONS charged borrower or lender
until loans have proven good.

F R A N C IS S M I T H & CO .,
SAN ANTONIO. T E X A S .




61 B R O A D W A Y ,
NEW Y O R K .
BANKERS AND BROKERS.
AUBURN, M EW Y O R K .
Members of the N. Y. Stock Exchange.
Makes specialty of Bank Stocks, Municipal and
Water Bonds and furnishes Solicited Information Investment Stocks & Bonds, Grain,Cotton,

fibcl1s8 Agents

Wanted

B y a F IR S T - CDA S 8 COM PANY.
L IB E R A L CO N TRACTS.
UNEXCELLED PO LICIES
INCORPORATED 1848.

Union Mutual
Life Insurance Company,

and all securities that are dealt in on the
New, York. Chicago, Philadelphia or
Boston Stock Exchanges, bought
and sold for cash or car­
ried on margin.
Branch Office: 36 Congress Street, Boston,! Mass.

Bliss, Fabyan & Co.,

NEW Y O R K , B O S T O N ,P H IL A D E L P H IA .
SELLING AGENTS FOB LEADING BRANDS
BROW N and BLEACH ED S H IR T IN G S
and SHEETINGS,
P ortland, M aine.
PRINTS, DENIMS, TICKS, DUCKS. <ho
Address either:
-*
EDSON D. SCOFIELD, Supt.,54 William 8t.,N.Y.City Tow els, Q uilts, W h ite G oods and H oslory,
THORNTON CHASE,Supt.,84 Adams St.,Chicago,111. JOtiSS Drills, Sheetings, etc., tor Export Trade.

F IN A N C IA L ,

%nsuvuutt. *

C H IC A G O .

INTESTMENT BONDS A SPECIALTY

Rolston & Bass,
STOCKS, BONDS AND MISCELLANEOUS
SECURITIES.
2 0 B roa d Street,
W. H. ROLSTON,
W. ALEX. BASS, JR.,
NEW Y O R K .
Members N. Y. Stock Ex.
P. O. B ox 2,968.
EDWIN S. HOOLEY.

Gilman, Son & Co.,
BANKERS,

Loeb

&

Gatzert,

MORTGAGE BANKERS,

O FFICE OF T H E

125 liA S A L L E S T R E E T , C H IC A G O

First Mortgages for sale in large and small amount!
netting investors 6,5J6 and 6jper cent, secured by
mproved and income-bearing Chicago city property.
Principal and In terest payable ln 'G old .
CORRESPONDENCE SOLICITED.

No. 62 C E D A R S T R E E T ,

A. O. Slaughter & Co.,
RANKERS,

&

1 1 5 -1 1 7 L A S A L L E ST R E E T,

COM PANY

BANKERS,
M IL L S B U IL D IN G ,
NEW Y O R K ,
SOLICIT ORDERS 1R

Stocks, Cotton, G rain and P rovision s.
Branch Offices :
_
277 Broadway, (Corner Chambers Street.)
671 Broadway, (Broadway Central Hotel.)
768 Fifth Ave., cor. 68th St. (under Plaza Bank.)
DEPOSITS RECEIVED 8* INTEREST ALLOWED
H b n h y g . Ca m p b e l l , I Members N. Y. stool
J. BORDEN HARRIMAN, >
Exchange.

H. G. Campbell & Co ,
B A N K E R S AND B R O K E R S ,
0 Mow Street and 7 4 B roadw ay,
NEW YORK.

C H IC A G O , IL L S .
Chicago Securities Bought and Sold.

BONDS

YIELDING AN INCOME
4% TO 6%

C ITY, MASON, LEW IS A C O ., Bankers
C OU N TY
171 LA8ALLE 8TREET,
SCHOOL SEND FOR LISTS.
CHICAGO

A. G. Becker & Co.,
(INCORPORATED)

C O M M E R C IA L P A P ER
154 La Salle S t, Chicago, 111.

Simon Borg & Co.,

Jamieson & Co.,

NO. 2 0 N A SSA U S T ., N E W Y O R K .

S T O C K S —B O N D S ,

D EALERS IN A L L K IN D S OP

Members New York and Chicago Stook Exchange!

Railroad and Investment Securities

187 D E A R B O R N ST R E E T,
Chicago. Ills .

So u t h e r n Se c u r it ie s

Sp e c ia l t y .

a

Hatch & Foote,
BANKERS,

No. 3 NASSAU STREET, NEW YORh
INVESTMEJS T SECURITIES.

BANKERS,
18

W ALL

STREET,

NEW

YORK.

E s t a b lis h e d 1 8 6 5 .

MEMBERS OF NEW." YORK STOCK EXCHANGE.
Allow Interest on deposits subject to sight check.
Buy and sell on commission stocks and bonds either
for cash or on margin, and deal in

Investment Securities.
A . M. K id d e r ,
H . J. M o rse ,

Ch a s . D. M a r v i n ,
W . m . K id d e r .

0. W. Haskins,
No. 2 Na s s a u St r e e t ,

E. W. Sells,
-

Ne w Y o r k .

Offer their services to make

P E R IO D IC A L AND SP E C IA L
E X A M IN A T IO N S OF ACCOUNTS AND
R E C O R D S,
IN V E STIG ATIO N S OF A F F A IR S ,
and to introduce

SIM P L E

AND EFF IC IE N T M ETHO D S
OF ACCOUNTING.

Private wire to New York and Philadelphia.

1850.

1895.

The United States Life
Insurance Co.
IN T H E C IT Y OF NEW Y O R K .
This old and reliable Company now has the exper­
ience of forty-five years of practical Life Insurance,
which has taught it that the sine qua non of success
is the adoption of good plans of insurance, and the
pursuit of a liberal policy towards both its Insured
and its Agents. These essentials it possesses in an
eminent degree, but judiciously tempered by that
conservatism which is the best possible safeguard of
the policy-holder. Its contracts are incontestable
after two years. They are non-forfeiting, providing
generally for either paid-np policy or extended in­
surance, at the option of the policy-holder. It gives
ten days of grace in payment of all premiums. Its
course during the past forty-five years abundantly
demonstrates its absolute security.
A ctive and su ccessfu l A gen ts, w ishing to rep­
resen t th is Com pany, m ay com m unicate .
w ith the P resid en t at the H om e Office,
2 6 1 B roadw ay, New Y ork,
OFFICERS:
GEO RG E H . B U R F O R D .............. President
C. P. FRALEIGH.......................................Secretary
A. WHEELWRIGHT............... Assistant Secretary
WM. T. STANDEN................
Actuary
ARTHUR C. PERRY.................................... Cashier
JOHN P. MUNN............................Medical Director
FINANCE COMMITTEE:
GEO. G. WILLIAMS............ Pres. Chem. Nat. Bank
JOHN J. TUCKER........................................ Builder
E. H. PERKINS, JR,. Pres. Imp. & Traders’ Nat. B’k
JAMES R. PLUM....................
Leathe

SECURE BANK VAULTS.

Over twenty years experience in the Operating
A ccounting and Financial Departments o f Railways
and other corporations, and have

In vestigated and R ev ised the Accounting
System o f the United States G overnm ent.

FO R S A L E .

GEN UINE
WELDED CHROME STEEL AND IRON

CHRONICLE VOLUMES.

Round and Flat Bars and 6-ply Plates and Angles
FOR SAFES, VAULTS, Ac.
Cannot be Sawed, Cut or Drilled, and positively
Burglar-Proof.

A second-hand set from 1880 to date in good order.

POOR’S MANUAL
COMPLETE SET.
APPLY3T0

CHROME

STEEL

W ORKS,

Kent Ave., Keap & Hooper Sts.,
Sole Man’f ’ers in the U. S. B R O O K L Y N . N. Y .

S E A R SSuccessors
& Wto H IT E ,
EUGENE R. COLE,

S T A T IO N E R S A N D P R IN T E R S .

W IL L IA M B . D A N A CO M PAN Y,

Supply Banks, Bankers, 8tock Brokers and Cor­
porations with complete outfits of Acoount Books
and Stationery.
PVK ew concerns orgànizing will have their orders
promptly executed.

76X PINE S T R E E T , NEW Y O R K .

MO. 4 9 B R O A D S T R E E T .




A TLA N TIC MUTUAL
INSURANCE CO.

A. 0. SLAUGHTER, Member N. T. Stock Exchange
WM. V. BAKER, Member Chicago Stook Exchange

In addition to a General Banking Business, Buy
and Sell Government Bonds and Investment So
curlties.
_____________________________

CLAPP

ix

THE^CHRONICLE.

JUNE 15, 1895

N e w Y o r k , January 22,1895.
The Trustees, In conformity with the Charter
of the Company, submit the following state­
ment of its affairs on the 31st o f Deoembea
1894.
Premiums on Marine Risks from
1st January, 1894, to 31st
December, 1894....................... $2,760,920 62
Premiums on Policies not
marked off 1st January, 1894 1,106,515 77

•

-------------

Total Marine Premiums........ $3,867,436 39
Premiums marked off from 1st
J a n u a ry , 1894, to 31st Decem­
ber, 1894.................................. $2,840,2849$
Losses paid during the
same period................... $1,411,292 89
Returns of Premiums
and Expenses............$624,154 64
The Company has the following assets, vis.:
United States and City o f New
York Stock: City Banks and
other Stocks....................
$8,247,455 00
Loans secured b y Stocks and
otherw ise.................................. 1,043,500 00
Real Estate and Claims due the
Company, estimated at............ 1,009,845 30
Premium Notes and Bills Re­
855,69314
ceivable .....................................
Cash in Bank............................... • 184,238 44
Am ount.................................. $11,340,731 88
SIX PER CENT INTEREST on the outstand­
ing certificates of profits w ill he paid to the
holders thereof or their legal representatives
on and after Tuesday, the fifth o f February
next.
FIFTY PER CENT o f the outstanding certifi­
cates o f the issue of 1890 w ill he redeemed and
paid to the holders thereof, or their legal rep­
resentatives, on and after Tuesday, the fifth o f
February next, from which date interest on
the amount so redeemable w ill eease. The
certificates to he produced at the time o f pay­
ment and canceled to the extent paid.
A DIVIDEND OF FORTY PER CENT is
declared on the net earned premiums o f the
Company for the year ending 31st December.
1894, for whioh certificates w ill he issued on
and after Tuesday, the seventh of May next.
By order o f the Board,

J . H . C H A P M A N , S ecretary .
r

TR USTEESJ
J. D. Jones,
W. H. H. Moore,
A. A. Raven,
Joseph H. Chapman,
James Low,
James G. De Forest,
William DeGroot,
William H. Webb,
Horace Gray,
Charles P. Burdett,
Henry E. Hawley,
William E. Dodge,
George Bliss,
John L. Riker,
C. A. Hand,
John D. Hewlett,
Gustav Amsinok,
N, Denton Smith,

Charles H. Marshall.
Charles D. Leverioh,
Edward Floyd-Jonea,
George H. Maoy,
Lawrence Turnure,
Waldron P. Brown.
Anson W. Hard,
Isaac Bell,
Joseph Agostini,
Vernon H. Brown,
Christian de Thomsen
Leander N. Lovell,
Everett Frazar,
William B. Boulton,
George W. QuintarO,
Paul L. Thebaud,
John B. Woodward,
George Coppell.

J. D. JONES, President,
9
W. H. H. MOORE, Vloe-F*MttMfc

A. A* BATON, Bd

THE CHRONICLE,

X

©Ott0M.

[V o

l

LX.

C x rttm L

W OODW ARD
6c ST IL L M A N , IN M A N , SW A N N 6cGo

| WfUter T. Hatch,
Henry Prescott Hatch,
Arthur Melvin Hatch
Members o f N. Y. Stock and Produce Exchanges.

Vfam Hatch* 6c Sons,
96 Broadway & 6 Wall St., New Vòr^.

MERCHANTS,

COTTON MEROHANTS,

16 to 22 WILLIAM STREET,
Now Y o rk .

M EW Y O R K .

Dealers in investment stocks and bonds.
Persemi attention given at the N. Y. Stock Ex­
change 5for the -purchase and sale on commission of
stocksrand bonds for cash or on margin.
Interest allowed on deposits, subject to draft at
aightigi^^
______
^

COTTON OF ALL GRADES SUITABLE TO
WANTS OF AMERICAN SPINNERS.
LBHMAN, Ste r n & Co., Limited, New Orleans, La.
L e h m a n -D u r r Co., Montgomery, Ala.

LEHMAN

BROS.,

R IO R D A N & i3 0 .,

F; ‘H. Prince; 6c Go.,

C O M M ISSIO N M E R C H A N T S ,

Cotton, Grain, Stocks.

Nos. 16-22 William Street,
NEW YORK.
MEMBERS OF THE STOCK, COTTON, COF­
FEE AND PRODUCE EXCHANGES,
NEW TORE.

B O S T O N , MASS.

43 COTTON EXCHANGE,
HIGH GRADE IN V E S T M E N T S .
NEW YORK.

Orders executed on the above Exchanges as well
as In New Orleans, Chicago and foreign markets.

Hubbard Bros. & Co.,

BANKERS,

Members of New York and Boston Stock Exchanges

Henry Hentz & Co.,

COFFEE EXCHANGE BUILDING,
NEW Y O R K .

CO M M ISSION

M ER CH ANTS,

16 te 9 9 W illia m St., New Y e rk .

Cotton Commission Merchants.

Members of New York Stock Exchange, New York EXECUTE ORDERS FOR FUTURE DELIVERY
Cotton Exchange, New York Produce Exchange,
COTTON,
New York Coffee Exchange, Chloago Board of Trade.
Orders executed on the Exchange also for pur- At the New York, Liverpool and/t,New Orleans;
B A N K E R S AND B R O K E R S ,
chase and sale of cotton for future delivery In New
C o lo r a d o S p r in g s , C o lo r a d o .
Cotton Exchanges. Also òrders'tfòr
Orleans and Liverpool. Liberal advances made on
cotton consignments.
C O F F E E ' , ’' * '*y 1
j Colorado: Mining Stocks a Specialty.
P R IC E . R E ID A CO.,
Weekly Market Letters and Quotations sent on
At the New York Coffee Exchange, ^nd
N o r fo lk , Y a .
Application.
Special attention given to orders for cotton for G R A I N A N D P R O V I S I O N S ,
foreign or domestic shipment.
At the New York Produce’ Exchange
j . o . B loss .
G eo rg e h . Ch u r c h .
and the Chicago Board o f‘Trade..
BANKER,

WiJMa^P.4Bonhriglit& Go.

A. S. Van Wickle,

J. O. BLOSS & CO .,

C O T fO H
99

MERCHANTS,

W illiam Street,
NEW Y O R K .

.

COTTON, COTTON-SEED O IL

INVESTMENT SECURITIES¿

AND

SOUTHERN PRODUCE

C O TTO N M E R C H A N T S ,
P H IL A D E L P H IA .
„

No. 1 BROADWAY, NEW YORK,

,

Geo. H. M°Fadden & Bro
L iv e r p o o l Co r r e sp o n d e n t s , .

Hopkins, Dwight 6c Co.,

_

COMMISSION

R oom 59, Cotton E xchange!B uilding.
NEW YORK.
Gustavus C. Hopkins,
LuciusUopkios Smith,
Charles D. Miller,
Samuel Hopkins.

F rederic Z erega dr Ce.

T h eo . H. P r ic |, ,
W . G. M cCo r m ic k .
R. G. Mj St u a r t *W o r t l e y .

M. T. MAINE.

Price, McCormick 6c Co.

M cFadden, Z erega de Co.

■JVM. r a y . ! B. F. EVANS, Spécial.

Geo. Copeland 6c Co.,
COTTON B R O K E R S ,
190 P earl Street,
■
New Y erk .
Cotton landed at mills from Southern markets a
specialty. Orders for future delivery contracts
executed on New York Cotton Exchange.
S. A . F a t m a n ,- Special.

Fatman 6c Schwarz,
COTTON COMMISSION M ERCH AN TS’
1 W illia m Street, New Y erk'.
Members New York Cotton, Coffee and f Produce.
Exchanges.
G eo . W. B a i l y .

J. A. M o n t g o m e r y ^

Geo. W . Baily 6c Co.,
COMMISSION MERCHANTS,
COTTON AND NAVAL STORES.
Cetten E xchange B ldg.
NEW Y O R K .
Execute Orders for future Delivery of Cotton.
Correspondence Invited.

O O TTO N

AND

G R A IN

FOR FUTURE DELIVERY.

Frederick Paxson & Co.,

BANKERS AND BROKERS,
No. 7 9 B roa d w a y, N ew Y o rk .
Members : New York Stock Exchange.
New York Cotton Exchange.
New York Produoe Exchange.
Chicago Board of Trade.

J. Spencer Turner,
SUCCESSOR TO

B r tn e k e r h o ff, T u r n e r & C o .,
MANUFACTURER AND DEALER IN

Rich. P. Morgan & Sons,
R A IL W A Y EXPERTS,
D W IG H T , IL L IN O IS , U. 8 . A .
Having extended experience in the construction
and operation of railways, we offer our services as
I n d e p e n d e n t E x p e r t s to examine and report
upon tile character and Co n d it io n o p t h e Con ­
st r u c tion and E q u ip m e n t of R a i l w a y s and also
their Sa p e N et E a r n in g Ca p a c i t y . We have
recently examined for capitalists and reported
separately upon nearly all of the principal railroads
west of Chicago between Canada and Mexico.

Jos. O. Osgood,
M. Am. Soc. C. E.
Consulting Engineer.
Reports On Investment Properties for Bankers
and Investors.
Examinations in regard to physical condition and
character, earnings, management, needs, value, etc.
R a ilro a d L ocation and C onstruction. \

120 B ROADW AY,

• •

NEW YO R K .

C OTTO N SAIL DUCK W M . F R A N K L IN H A L L ,
AND ALL KINDS OP

COTTON CANVAS FELTING DUCK,
CAR COVERING BAGGING,
RAVENS DUCK, SAIL, TWINE, &C,
POPE “ AWNING-#,STRIPES.
A gent

.

UNITED STATES BAN TIN G CO.
A full supply, all Widths and Colors, always in
stock.
1 0 9 D u a n e S tree t, N e w Y o r k .

BOOKS

AGCOUNTANT AUDITED

New forms designed for hooks of account.
. Settlement of Insolvent Estates. '
418 Exchange Building, 53 State Street, Boston

John 0. F. Kandolph, E. M.

Fifth Avenu^ Hotel,

(Sohool of Mines Graduate, 1869.)

M a d is o n S q u a r e , N e w Y o r k .

Consulting Mining Engineer-

ST O C K B R O K E R S ,
The largest, best appointed‘and moat liberally
DREXBL BUILDING, PHILADELPHIA.
managed hotel in the city. With the most central
x<
' Private wires to New York Stock and Cotton and delightful location.
Bxohangea and Chicago Board of Trade.
HITCHCOCK, DARLING St CO.




R ic h a r d P r ic b M o r g a n .
E d w a r d R. M o r g a n .
D w ig h t C. M o r g a n .

_

B r e m e n Co r r e sp o n d e n t s ,

P a u l Sc h w a r z .

| p is £ je lla u £ 0 t t s .

MERCHANTS.

15 B R O A D S T R E E T , NEW Y O R K .
Ca b l e A d d r e ss , rh o s g o g , N e w Y o r k .L T