Full text of Commercial and Financial Chronicle : March 10, 1877, Vol. 24, No. 611

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HUNT’S

REPRESENTING THE

MERCHANTS’ MAGAZINE,
W^jeIttH gU w 0 jra p e *,

INDUSTRIAL AND COMMERCIAL

INTERESTS OF THE UNITED STATES.

NO. 61L

SATURDAY, MARCH 10, 1877.

VOL. 24.

tenders a million
and a half.
What is important to,be noted is that
THE CHRONICLE.
Co:nmi'8ionprs, Plan for Muni¬
the returns were made up on increasing averages, so that
Business Prospects and the Money
cipal Government
214
211
Market
Latest Monetary and Commercial
considerable anxiety is manifested to learn the course of
The New York System of City
English News
215
Government
212
Commercial and
the bank movement during the present week.
Miscellaneous
Hence
Railroad EarniDgs in February,
News
217
and from January 1 to March 1. 213
the Clearing-House statement to-day is being looked for
THE BANKERS’ GAZETTE.
Money Market, U. S. Securities,
I Quotations of Stocks and Bonds. 221 with rather more anxiety than usual. If we may judge
Railway Stocks, Gold Market,
| Investments, and State, City and
Foreign Exchange, N. Y. City
Corporation Finances
222 from the reports which have been made to us by some
Banks, National Banks, etc
218 I
THE COMMERCIAL TIMES.
of the larger and more active banks, the drain has some¬
Commercial Epitome..
233 what
228 | Dry Goods
diminished, but with evident promise of an early
Cotton
228 Imports, Receipts and Exports.... 233
Breadstuffs
212 |
renewal. We may also remark that the demand upon
the banks proceeds from various distant points.
It is not
dUjronuit.
a local but a general demand. Hence the drain of green¬
The Commercial and Financial Chronicle is issued on Satur¬
backs is likely to be longer kept up, and the probability
day morningy with the latest news up to midnight of Friday.
is increased that it may promote some wholesome changes
TERMS OF SUBSCRIPTION-PAYABLE IN ADVANCE:
For One Year, (including postage)
$10 20.
stimulating to industrial activity. Of course, these ten¬
For Six Months
6 10.
dencies are also favorable to an enhanced rate of interest
Annual subscription in London (including postage)..
£2 2s.
do
Six
do
do
1 3s.
in the early future. At present, however, the money
Subscriptions will be continued until ordered stopped by a written order, or
at the publication office. The Publishers cannot be responsible for Remittances
market is extremely easy, and the demand for loans is
unless made by Drafts or Post-Office Money Orders.
London Office.
far exceeded by the available supply of idle capital.
The London office of the Chroniclk is at No. 5 Austin Friars, Old Broad
A second fact of importance is the reported improve¬
Street, where subscriptions will be taken at the prices above named.
Advertisements.
ment in the monetary situation abroad.
As has been
Transient advertisements are published at 25 cents per line for each insertion,
bnt when definite orders
given for five, or more, insertions, a liberal dis¬
frequently shown, the sympathy is so close between our
count is made. No promise of continuous publication in the best place can be
Siven, as and advertiserscolumn have equal line, each insertion.
anting all Financial must 60 cents per opportunities. Special Notices in money market and the chief money markets of Europe^
more

CONTENTS.

than two

millions, and the legal

mos.

are

improvement or a stagnation here is frequently
produced by the same causes which develop stagnation
^Post Office Box 4,592.
As the London money market
B5ir" A neat file-cover is furnished at 50 cents; postage on the same is 17 or improvement abroad.
cents. Volumes bound for subscribers at $1 50.
G3F” For a complete set of the Commercial and Financial Chronicle— of late has exhibited some signs of returning activity, it
July, 1865, to date—or of Hunt’s Merchants’ Magazine, 1839 to 1871, inquire is
not improbable that the money market here will be
at the office.
reached by the rising tide of activity before long. So
The Business Department of the Chronicle is represented among
DANA,
|
FLOYD, jr. j

WILLIAM B.

John G.

WILLIAM B. DANA & CO., Publishers,
70 & 81 William Street, NEW YORK.

that

an

great are the masses of the idle capital awaiting invest¬
ment, and so urgent is the pressure to lend, that we may
BUSINESS PROSPECTS AN1) THE MONEY MARKET.
The confirmation by the Senate of Mr. Sherman as fairly expect soon to observe in some of the foreign
Secretary of the Treasury has been favorably received markets, especially on the Continent of Europe, the

Financial Interests in New York City by Mr. Fred.

W. Jones.

by the financial public, especially because of the assur¬
ance it gives as to the continuance of the Treasury policy
in regard to specie payments and to the funding of the
debt. Stability, as is well known, is one of the most
fundamental conditions of commercial improvement.
The certainty, therefore, of stability in the policy of the
country, in the particulars mentioned, is favorable to
that industrial and mercantile recuperation which has
been so long looked for. The evidence, indeed, of its
probable approach is increasing on all side?, and especi¬
ally in the money market.
One of the most conspicuous of the new monetary
movements is the outflow of the deposits and of green¬
backs from the banks of this city. We show in our
regular reports elsewhere, that this movement in antici¬
pation of the spring trade, has begun early, and is unus¬
ually active. Last week the average deposits declined



One of the
agitating the public mind is as to the

usual consequences

questions now
time when

the

of such accumulation.

new

movement will

begin. Not a few

already begun. Tn proof of
the,£similarity between the
and that which was observed in 1867,

persons contend that it has
their opinion they point to
recent

depression

after the

Overend panic.

At that time commerce was

prostrated, business was paralyzed and there was a com¬
plete cessation of many of those great currents of capital
by which industrial activity is kept up.
The Bank of
England, for the first time in its history, lent money at
2 per cent.
So exceptional was this rate of discount
supposed to be that one of the great English quarterly
reviews discussed it in a hopeful, brilliant and elaborate
article as an extraordinary phenomenon not likely to
recur.
The prediction was not fulfilled. The rate of 2
per

cent, which began

in August, 1867, was

kept up

[March 10, 1877.

CHRONICLE

THE

212

The limit of 4£ have large accumulations of capital for some time to
per cent was not reached till May, 1S69, and the rate come, and as the financial situation in Europe is also
fell to 2£ in September and October of that year.
So favorable, there is a gratifying confirmation of the
easy was the money market that the average discount growing opinion which is so prevalent around us, that
charged by the Bank of England throughout the year the prospects of business are better to-day than they
1868 was 2J; in 1869 it was 3j, in 1870 it was 3£, in 1871, have been for some time past.
2£, in 1872, 4£, in 1873, 4|, in 1874, 3f, in 1875, 3J, and
THE NEW VO R SYSTEM OF CITY GOVERNMENT,
in 1876 2 per cent. To illustrate this we give the sub¬
The report of Governor Tilden’s municipal commis¬
joined comparative view of the rates of discount of the sion has been made
public this week. Instead, however,
Bank of England during the last 37 years :
.of discussing to-day the new system proposed, we have
OF DISCOUNT OF TUE BANK OF ENQLAND FROM 1840 TO 1S76.
thought it more useful to present as briefly as possible
No. of i
No. of
the New York city law as it now stands.
The necessity
Average changes l
Average changes
for change is more fully appreciated the closer we study
in the
in the
Lowest fr 12
Highest Lowest for 12
Highest
without

interruption for 15 months.

RATES
-

per
1840..

cent.
5

5

5

year.
None.

per cent, rate p. c.
185!).
4
zx

5

None.

1800.

Three.

1861.
1852.

rate p. c.

1811..

5

5

1812..

5

mos.

4

.

4

4

4

Nine.

4

3#

One.

1815.

2\

Two.

1835

3*

3%
5X

One.

1847..

3*
3X
Vi

2X
2lA

Seven-

1866.

1818..

5

3

3X

Four.

1867.

3

Two.

18;)8.

1850..

2X

2*
2*

2X

None.

1869.

1851..

3

3

3

None.

1870.

1852..

2X

2

2 1-12

Two.

1871.

1853..

5

2&

3X

Four.

1872.

1854..

5^

5

5

Three.

1873.

1855..

6

3 Yt

4%

Six.

1874.

.

1856..

6M

4*
$X
2#

5X
W
3%

Five.

1875.

.

1819..

3

'

.

| 1863.

.

2X

4^

Five.

?X

3

Eight.

3

2

IX

3X

5*
2X
4%

6

<X

Nine.

3X
3?£

4X

Eight.

7

Ten.

3X

2
2

2X
2X

Three.

3

•

1843..

1846..

year.

Four,

2%

5

.

1814..

1864.

mos.

4 y%
5

2X
2X

4#

.9

.

.

.

.

■

.

•

7

Seven.

present system.
city government -now exists by virtue of and is
founded upon a very long act of the Legislature, passed
April 30, 1873, and known as the charter of 1873, and
of fifteen amendatory or explanatory acts passed since,
The

sx
6

3X

Seven.
Four.

2

3X
2%

3

10

.

.

Five.

the

4 >8

Nine.

and several following the
immediately. Section 119 excepts
the city from the operation of three acts passed respec¬
tively in L857, 1865 and 1866; repeals the amendatory
acts of 1830 and 1849, also two acts “to amend an act

3X
*X

4X
3X
3*

Niue.

entitled 4

Nine.

New

Two.

Ten.

six of them in the

same

year

charter itself almost

an

act

to

amend the charter of the

city of

York,’” passed in 1851 and 1853, besides an act
Seven.
1876.
2V
5
Four.
1857..
9X“
supplementary to an act entitled an act further to amend,
Two.
5
1858..
etc., passed in 1853; also seven other acts dating from
The repeal and supersedure of these
As the depression of 1867 passed off and gave place 1868 to 1870.
by degrees to renewed business activity, so it is argued seventeen acts, with sundry specified exceptions and
that the present depression has already begun to disap¬ retentions, did. not, however, entirely clear away old
*X

2

Eight.

o

.

/v

and that the evidences of recuperation are already legislation, for many charters, some very old, exist in
apparent to-be mistaken. We do not.wish to oppose force in part, and the present one expressly continues
those known asjlie Dongan and Montgomerie, so* far as
or refute any well-grounded expectations, but it is only
fair to suggest one or two of the very numerous differ not inconsistent with it. This summary of the section
ences
between the plethora
of 1876 and that referred to, Although containing much less repetition
of 1867. Ten years ago the effects of the com¬ than the text itself, is made in order to convey a faint
mercial revulsion due to the Overend failure were idea of the patchwork quality of legislation upon city
confined within comparatively narrow limits, while the matters.
The charter and subsequent acts contain 189 sections.
recent depression has been much more extensive. Hence
the inference, first, that its energy must have resulted in The legislative power, so far as any is granted, is vested
a much more
profound disturbance of the economic in a board of aldermen, and the most minute details in
forces throughout the world, and, secondly, that a larger regard to their election and the manner of their pro¬
period of recovery may be needful. In 186 7, very few ceedings are provided. The Mayor has the usual veto
countries except England suffered from the monetary power.
Any ordinance or resolution involving the
troubles of that time, or at least few suffered as much as expenditure of money, the laying of an assessment, or
England. But every one knows that during the last the lease of real estate or franchises, requires a threefourths vote of all members elected ; no money shall be
year industrial depression has been as widely extended
as
is the field of
finance itself.
Scarcely any expended for any celebration, procession, funeral, “or on
commercial nations except France have failed to any occasion,” unless by a four-fifths vote of all members
show some indications of their sympathy with the elected ; no additional allowance beyond the legal claim
industrial disorganization and depression which have under any contract with the municipal corporation can be
been so long prevalent. We might also call attention granted, except by a unanimous vote. These restrictive
to the numerous and important elements of danger provisions are singularly stringent, but practically avail
derived from the growth and condition of the vast public little, for unanimity as to expenditures is easily procured,
and corporate debts which have been accumulated during where there is no accountable head, and, for example, in
the last ten years. The shrinkage in the mass of secu¬ last year’s accounts, we find the record of five warrants,
rities which represent these debts has been enormous. aggregating $1,559, paid for music furnished on the
Its effects upon the movements, the elasticity and- the occasion of the funeral of Vice-President Wilson, in
strength of the mechanism of the money market deserve January, 1876. The powers of this legislative body are
more attention than they have generally received.
Still, declared to cover twenty-six subjects, designated in
the experience of the past shows us that such a move¬ numbered paragraphs, such as regulating traffic in the
ment of shrinkage is only a prelude which is certain to streets, use of the streets, encroachments upon streets,
be followed -sooner or later by a rise of prices, by an laying mains, building sewers, street opening and nam¬
improvement of securities, and by a general re-adjustment ing, and kindred matters, &c. With regard to finances,
their authority is restricted by Section 18, which reads :
of values.
The Common Council shall have no power to impose
With these facts in view we may at least conclude
that as the financial policy of* the Treasury is now taxes or assessments, or borrow money, or contract
settled, as the money market is easy and is likely to debts, or loan the credit of the city, or take or make a
pear

too

r

■




“

March 10,

1877.]

THE CHRONICLE.

of any real estate or franchise save at a reasonable
rent and for a period not exceeding five years, unless
specially authorized to do so by act of the Legislature.”
This section appears to exclude the sole legislative
body of the city from any control over its finances.
The charter nominally vests the executive power of

daily, on contract, provision being made for furnish¬
ing gratuitous copies to city officials, to newspapers,
and to public libraries.
It shall contain only city
matters; all contracts,propcsals, and all city advertising
must be made in it exclusively, except brief notices
of the same which may be inserted in specified news¬

corporation “in the Mayor and the officers of the
departments.” The Mayor shall appoint, by consent of

papers to the effect that full particulars of
be awarded or bonds sold may be found

lease

the

the Aldermen, the

heads of departments, with

a

few

ex¬

ceptions; heads of departments may remove employees,
after hearing, and may themselves be sim¬
ilarly removed by the Mayor, subject to the written
approval of the Governor. Section 23 describes the duty
of the Mayor to be: “1, to communicate to the Common
Council, at least once a year, a general statement of the
finances, government, and improvements of the city; 2,
for cause and

contracts to

in the city
Manual nor any¬

neither the old Corporation
thing similar can be issued. During each month of
January a list of all employees of the city, except
laborers, with their titles, residences and salaries shall
be published in the Record, and all appointments or
removals, and all changes of salaries, shall be announced

paper ;

made. The salaries of heads of departments
and of other leading officers are named in the charter^
as soon

as

recommend to the Common Council all such measures the police are continued at the pay which they had at
the time of its adoption; salaries of officers existing
as he shall deem expedient; 3, to keep himself informed
of the doings of the several departments; 4, to be vigi¬ then, but not embraced in any department, are fixed by
lant and active in causing the ordinances of the city and the Board of Estimate and Apportionment; those of
laws of the State to be executed and enforced, and for officers created under the charter by the Common
that purpose he may call together for consultation and Council are fixed by that body, and each department,

to

co-operation the heads of departments; 5, and generally
to perform all such duties as may be prescribed for him
by the city ordinances and the laws of the State.”
These are all very interesting features, and would be
important if any control or power of direction existed
in the Mayor after examination had. Suppose he finds
on such examination that, according to his ideas, the
finances are being mismanaged, or the health of the city
not properly guarded, or the Dock Department is using
poor judgment, etc.—what shall he do? This would not
properly be cause for removal, unless actual malfeas¬
ance can be shown;
in fact he has, by the examina¬
tion, done all that he can do under the charter, and
like the superannuated watch-dog, havmg risen and
shaken himself, may as well lie dowrn to sleep again.
Each class of city work has its little independent ma¬
chine. The Finance Department, with eight bureaus
under it, headed by the Comptroller, has “ control of
the fiscal concerns of the corporation.” The most inter¬
esting provision made is that all contracts involving
more than $1,000, except those to be wholly or in part
-repaid from assessments, must have the Comptroller’s
certificate that an unexpended appropriation sufficient
for the purpose remains.
There is nothing especially
worth citing in the provisions establishing the other
departments, except to say that the head of each is
dictator within his own dominions.
The Mayor may
examine the accounts of them all, and keep himself
informed as to what they are doing; but if he wishes
to give any direction as to the policy to be adopted, he

otherwise provided, regulates the number and
pay of its employees.
As to strictly financial management, it is now divided
between the Comptroller, the Board of Estimate, the Sink¬
ing Fund Commissioners, and the State Legislature.
The Sinking Fund Commissioners may sell or lease
except as

public property, except wharves and piers, paying the
proceeds into the Sinking Fund, and may cancel any
part of the city debt redeemable from that fund. The
Comptroller, in addition to the powers previously noticed,
is authorized to borrow, in anticipation of city revenues,

expenditures under
the appropriations for each current year, but not in
excess of the revenues thus
anticipated ; and before
execution is issued on a judgment recovered on any claim
against the city, the Comptroller shall be allowed ten
days “ to provide for its payment by the issue of reve¬
nue bonds in the usual manner according to law.”
The
Board of Estimate shall annually, based upon estimates
from each department, make an estimate for all neces¬
sary expenses, including interest, State tax, and matur¬
ing bonds, and this, after confirmation by the Aldermen,
shall be fixed as the tax levy to be made. The same
Board may authorize the issue of bonds for the sole pur¬
pose of taking up maturing bonds, without increasing
the debt, or may authorize the issue of all or any part
of any bonds authorized by law to be issued.
Such are the main features or provisions of the law
under which our present city government exists. Could
a more cumbersome, less responsible
combinajtion be
such

sums as are

devised?

will find he has no power.
Two persons appointed by

necessary

to meet

^________

the Mayor, and removable RAILROAD EARNINGS L\ FEBRUARY, AND FROM JANUARY I
TO MARCH 1.
pleasure, together with the head of the Department
of Taxes and Assessments, are Commissioners ol
The number of prominent roads whose reports are embraced in
Accounts, and at least as often as quarterly must our list is less than formerly, in consequence of the refusal of sev¬
examine all vouchers of the fiscal officers and publish in eral companies to continue the publication of their earnings. The
the official journal a detailed statement of the city’s theory of corporation management held by the officers of a large
majority of our railroad companies is simply this—that the votes
financial condition; they shall also examine at pleasure
of a majority of stockholders control the election of directors
the expenses of all departments, and particularly with and officers and thus the whole management of the company,

at

duties, and make such recom¬
they see fit to the Board of Apportion¬

reference to salaries and

and that

mendations

holders from information as to

as

ment, which consists of four officials, headed by the
Two months before the charter election, the

Mayor.
Comp¬

publish in the official journal a detailed
statement of receipts and expenditures for the past
year, with a schedule of balances on hand and money
borrowed.
The official journal is to be published
troller shall




a

board having

been

condition of the company.

once

elected may exclude stock¬

the current earnings or financial
This position seems to be legaily

unassailable, and -without a change in

existing laws, stockholders

obtain information concerning the condition of
a property of which they are t ominally the owners.
In the list of roads below, those in Illinois and further north¬
west show decreased earnings in February, while the St. Louis &
Iron- Mountain and International of Texas show a considerable
have

no

power to

•

compared with 1876. It is to be remarked, however,
that Jait year February had 29 days, giving an advantage over
the present year of nearly 4 per cent in the comparison.
Taking
Chicago & Alton as an illustration, if we add 4 per cent to this
year's earnings we have a total almost the same as in February,
increase as

1876.

important event of the month bearing upon the genera*
subject of railroad earnings was the decision by the Supreme
Court of the United States in the celebrated granger suits
which have been pending in that court for nearly two years
past.
The decisions were adverse to the railroads, and
affirmed the power of a State to regulate the charges of railroads
The

operated within its borders, and also, in the absence of laws by
Congress regulating inter-State commerce, to fix the charges on
business to

or

from other States.

We shall await the receipt of

opinions delivered before commenting at length on the
principles] settled by these cases, but in the newspaper' reports
yet at hand tho most comprehensive decision seems to be that
in the Wisconsin cases, which is summarized as follows :
the full

“These sui's present the single question of the power of the Legislature of
the State of Wisconsin to provide by law fora maximum of churge to be
made by the Chicago and Northwestern Railroad Company, for fare and freight
upon the transportation of persons and property
within the State, or
taken up outside and brought within it, or taken up
out.
The decision is that until Congress acts in reference to the relations of the
inter-State commerce, it is competent for the State to regulate the fares of the
railroads so far as they arc of domestic concern. This company, it is said, has
domestic relations with the State, and incidentally these relations may reach

carried

inside and carried

Until Congress undertakes to legislate for those who are
for those within, even though it

beyond the State.

without the State, Wisconsin may provide
may indirectly affect those without.”

The
ary

is

more

extended than that in the table below :
Illinois.
Iowa.
$201,471

Freight

76,021

Passengers

65,575

Miscellaneous

$365,067

Total

Who’e line.

$61,363
27,824

$264,839
103,846

6,589

92,155

$460,839

$95,772

earnings for the corresponding month of 1876 :
Illinois.

Iowa.

$273,494

Freight

93,489
84,777

Passengers
Miscellaneous

32,490
6,524

$360,421

125,479
91,301

Total
Decrease

$451,760
80,693

:

$125,941
30,169

$577,702
116,862

Topeka & Santa Fe road, it is said that a
January and February
last year was for freight material, transported for the Pueblo
& Arkansas Valley Railroad.
As to the Atchison

considerable amount of the earnings in

GROSS EARNINGS
.

IN FEBRUARY.

Atchison Top. A S.'Fe
Burl. C. Rap. A North’n.
Canada Southern
Central Pacific

Chicago A Alton

Ohic. Mil. A St. Paul..
Cincinnati Laf. & Chic.*.
Ciev. Mr. Verno* A Dei.*
Denver A Rio Grande*
..

$134,000
68,094

133,365
951,000
333,459
405,000
17,939
18,708

Illinois Central till. line).

Indianap. B. A Western.

93,176
138,000
235,308
36,833
379,90)
80,579

Int. A Gt. Northern
Missouri Kansas A Texas
8t. L. A. A T. H. (br’chs)
St. L. Iron Mt. & S
Tol. Peoria & Warsaw...

$3,516,640

13,391
112,112

517.112

28,516
20,723
21,8.0

95,772

do

7,795
66,2 i3

451,760
125,941
141,649
116,186
254,722
33.595
312,116

10,517

2,015
8,560
86.693
30.169

49,473

21,814
19,414
2,763

67,784

31,682

112,261

$3,894,438

$98,158

Net decrease

$475,956
377,798

\ J* Three weeks only of February in each year.
«R«S» EARNINGS FROM JANUARY

1877.

At. Top. A S»nfca Fe
Burl. C. Rap A Northern..
Canada southern.
Central Pacific

260,651
142,058

1 TO FEBRUARY 28.
1876.
261.549

Increase.

61,567
21,968

193,625

Ohic. Mil. A St. Paul
Cincinnati Laf. A Chic.*
Ciev. Mt. Vernon & Del*
Denver & Rio Grande*..
...

242.934
2.076.000

2,011,542
652,447

19,019

780,463

3,044.658

41,812

62,939

43,(87

49,772
55,499

264,903

Illinois Cent. (III. Line) .
do
(Iowa lines)

+73,653
739,905
187,433

Indianap. B. & Western.

185.344

Int, & Great Northern...
Missouri Kansas & Texas
St. L. A. & T. II. (br’chs)
St. L Iron Mt. & So

317,196
472,:+40
88,246
777,400
159,150

511,181
7'8,575
639,306
211,469

$7,261,162

$7,701,306

Tol. Peoria A Warsaw...
Total..
Net decrease

18,151

877.923

133,01S

253,352

65,919
00,691

276,035
256,532

60.664

Burl. Cedar Rapids A North.—

$73,964
58,874

$91,934

$1,128,071

62,697

869,843

$1,311,377
646,286

Net earnings
$15,090
Burlington A Mo. River in Neb.—
Gross earnings
$49,922
30,181
j ^Operating expenses

$29,237

$258,226

$465,091

Gross

earnings

Operating

..

Net

$29,182

earnings

Ciev. Mt. Vernon A Del. and Br’chs.—
Gross earniDgs
$26,424

62,319

$310,087

$750,231
$440,144
year’s

Jan. •

Increase.

Philadelphia A Erie
St. Joseph A Denver C...

282.550

231.193

1,357

23,230

26,823

1,457

206.462

88,031
33,663
232,3-2
150,46 >
15,110

8’,016
37,916

234,131
173,385
21,503

$426,028
332,527

$70,338

$93,501

$248,235
169,951

$364,683
178,183

$3,162,519

$2,980,063

1,885,197

1,838,117

$18,284

$126,495

$1,277,322

1,143,936

$88,034

$80,016

$1,130,535
864,886

$1,116,906

64,095

...

Net

$18,510

$15,921

$265,649

$229,302

$176,265

$203,402

$3,0C0.799

23,621

earnings
.

Operating expenses

.

...

earnings

...

Louisville Cm. A Lex.—
Gross earnings

...

Expenses
Net

profits

..

Kansas Pacific.—
Gross earnings.....'

Expenses
Net

earnings

Operating
Net

...

expenses

Net

$63,565

$46,257

$1,572,880
$

$151,137

33,805
...

384,421

$3,517

$4,141

$66,716

..

$150,466

$173,335
100,085

$1,697,917
1,058,306

$1,638,771
1,035,477

$63,175

$73,300

$639,611

$603,294

expenses

earnings

...

expenses

..

..

..

$207,472

~141,955

$199,210

11,991

$1,230

$9,511

$65,517

$87,587

$232,550
156,220

$231,193
150,841

$8,352,978
2,188.445

$8,385,896
2,223,481

$76,330

$80,352

$1,164,533

$1,137,415

$30,597
25,634

$41,552

$573,757

28,600

351,676

$560,014
384,070

$4,963

..

earnings

$12,952

$222,061

$175,944

$357,8)0

$317,463

241,735

241,716

City—
.

Operating expenses

..

earnings....

..

..

..

$27,831*

$15,522
16,620

131,6*3

‘

*

Sioux City A St. Paul—
Gross earnings
Operating expenses

$

13,830

..

Net earnings
Philadelphia A Erie—
Gross earnings
Operating expenses

Net

$1,280,467

$37,916

Paducah A Memphis—
Gross earnings...f

Net

$3,363,760
1,790,880

$21,502

earnings

St. Paul A Sioux
Gross earnings

687,604

1,720,332

....

Nashville Chatt. A St. L.—
Gross earnings

Operating

’

142,837

...

'

Louisv. Pad. A So’west...—
Gross earnings

20,641

$75,747
Net earnings
$116,155
.def.$1.093
$7,190
Subjoined are the Union Pacific earnings and expenses for January:
Gross
Surplus
Operating
expenses.
earnings.
earnings.
1877
$492,901
$321,452
192,816
472,170
1876
664,986
....

...

Decrease

$300,035

$150,367

Increase
.

.

_

...

8149.717

..

Earnings and expanses of St. Louis A Southeastern for January. 1877:
Net eam’gs.
Expenses.
Earnings.
$11,212
St. Louis Division
$36,753
$47,965
9,211
20,240
23,451
Kentucky Division
4,365
Tennessee Division
9,476
13,841
Total
Total

$24,788

$66,469
69,431

$91,257

January, 1877
January, 18.6

80,842

11,411

Earnings and expenses of Int. & Great Northern for Dec., and from Jan* 1
to Dec. 31, were as follows:
December.
*
,—Jan. 1 to Dec. 31.—*
/

earnings
Operating expenses
Net

....

.

earnings

....

$1,440,831

$1,365,634

833,362

750,717

$607,519

64,8)0

$614,917

.

$125,391

$104,892

1875.

1876.

1S75.

$190,191

$211,973

Cin. Laf. A Chic, reports as follow* for

November:
1876.

*

Gross

earnings
Expenses
Net

earnings

..

..

,

3S35 Wwfl
I

1

$12,975

$8,201

$11,(00

......

$

..

..

2,621
56,4-48
*9,137

8,018
4,286
1,749
22.919
......

COMMISSIONERS’ PLAN FOB MUNICIPAL GOVERNMENT.
The Commission appointed by the Legislature in May, 1875,
under the special message of Governor Tildeu, to devise a plan
for the government of cities, submit the text of the plan which
they recommend in the form of an addition to the Constitution.
It

1,082

29,013
304,683

176,2'. 5

$376,053
305,715

$4,557

expenses

Houston A Tex. Central—
Gross earnings

runs as

6,392

follows

:
ARTICLE

Decrease.

51.(04

243,235

$29,043
24,491

...

Operating
Net

..

•

21,822

...

9,674

49,922
$50(1,638
26,424

$489,638

$51,004

...

138,094

Burl. & Mo. Riv. in Neb..
Chic. R. I. & Pacific
Clev. Mt.V.A Del. A brehs
Houston A Texas Cent...
Kansas Pacific
Louisville Cin. A Lex
Louisv. Pad. & So’wcst...
Mobile A Ohio
Nash. Char. A St. Louis..
Paducah A Memphis




...

expenses

...

38,841

GROSS EARNINGS IN JANUARY.

1876.

r-Jan. 1 to Dec. 31.1876.
1875.

1

Three weeks only of February in each year.
t Includes for 1677 the Trinidad extension, not embraced in previous
return.
The following companies have but recently reported their earnings for

1877.

$148,901

23,298

1876.

1876.

*64,198
21,127
4,685

12,809

......

—January-.—

Gross

*

...

$172,199

64,458

671,498

Chicago A Alton

Decrease.
898

$2,630,141

15,522

1877.

$10,132
33,597

$

346,850

t SO. 380
365,067

(Iowa lines)

$144,132
101,691
141,161
1,017,203

Dec.

Inc.

1876.

1877.

Z

153,367

$2,643,439

Decrease
10,958

The statement below gives the gross earnings, operating expenses and net
earnings for the month of January, 1677 and 1876, and from January 1 to
December 31 iu 1876 and 1875, of all the roads that will furnish statements for
publication:

Operating
-

815,354

41,552
27,831
664,98?

80,597

Tetal
Net increase...

Whole line.

$86,926

Increase.

1876.

1877.
St. Paul & Sioux City....
Sioux City A St. Paul
Union Pacific

following statement of Illinois Central earnings in Febru¬

Actual

[March 10, lb77.

THE CHRONICLE.

214

—.

..

Section 1. The power of the Legisature to provide for the organization
and government of cities shall be exercised in accordance with the provisions,
and subject to the limitation >md restrict.ons, hereinafter contained, and the
powers

and franchises of every existing city government must be exercised

conformity therewith. The Legislature shall, at its first session after the
adoption of this article, provide by law for carrying into effect all the pro¬
visions contained therein.
in

,

Sec,. 2. City elec'ions shall he held separately from the State and national
elections, and in March or April.
,
Sec. 3. The legislative pnw, r eonf rred upon any city shall be vested in a
Board of Aldermen, to be elected by the electors qualified under article sec¬
ond of the Constitution, which shall be the Common Council of such city; but

March 10,

hereinafter vested in the Board of Finance shall he conferred on or
In case of a veto of any legislative act
of the Board of Aldermen by the Mayor, the Board shall have the power to
pass the same, notwithstanding the Mayor’s veto, by a recorded vote of twothirds of all the members elected, provided that such vote be taken at the
next meeting of the Board after the communication of the veto.
Sxo. 4.—The executive Dower of every city shall be vested in the Mayor and
in such executive officers and departments as may be created by law. The
Mayor shall be the chief executive officer of the city, and he thall s. e to the
faithful performance of their daties by the several executive officers and de¬
partments thereof. He shall be elected by electors qualified under article 2 of
the Constitution for such term, and he shall receive such compensation as the
Legislature may prescribe. He shall nominate and, with the consent of the
Board of Finance, appoint the chief officer or head of the financial department,
and the chief law officer or head of the law department; and he shall have power
to appoint the heador chief officers of the other executive departments.
With
the written approval of the Governor, the Mayor may remove the head or
chief officers of any executive department. He shall have the power to inves¬
tigate their accounts and proceedings; have access to all books and docu¬
ments in their offices, and may examine them and their subordinates, under
oath, as to all matters relating to the performance of their official duties. He
shall also have power to veto any legislative act of the Board of Aldermen.
The Mayor may be removed by the Governor for cause, as in the case of
sheriffs; and, in case of such removal, the Governor shall appoint a Mayor to
fill the vacancy, who shall hold office until the next suc:eeding city election,
at which election a Mayor shall he elected for the full term of the office.
The
Legislature shall provide the filling of a vucancy in the office of Mayor, oth¬
erwise occurring, until the next succeeding city election, and also for the dis¬
charge of the duties of the Mayor during his temporary absence or dis¬
ability. Heads of departments shall have power to appoint and remove their
subordinate officers and employees, but the Legislature may regulate by law
the qualifications for such appointments and the conditions of such removals.
Sec. 5. There shad be elected in every city of this State a Board of Finance,
to consist of not less than six, nor more than fifteen, members. In cities hay¬
ing a population, according to the State census next preceding the election,
of over 100,000 inhabitants, the Board of Finance shall be elected by the elec¬
tors of the city (otherwise qualified under article 2 of the Constitution), who
shall, for two years next preceding the election, have paid an annual tax on
property owned by them, and officially assessed for taxation in such city, of the
assessed value of not less than £500, or shall have actually paid during the
same period a yearly rent for premises in said city occupied by them for pur¬
poses of residence or lawful business, of not less than £250. In cities having
a population, according to the State census next preceding the election, of
not more than 100,000 inhabitants, the Board of B’inance shall be ejected by
the electors of the city (otherwise qualified under article 2 of the Constitu¬
tion), who ehaH, for two years next preceding the elect on, have paid an
annual tax on property owned by them and officially assessed for taxation in
such city, or snail have ac'ually paid during the same period a yearly rent for
no

power

exercised by the Board of Aldermen.

Sremises in said less than $100. byInthem for purposes of residence or lawful
usiness, of not city, occupied
cities having a population, according to

members elected

resolution passed by the vote of two-thirds of all the
Any
to the Board of Aldermen and Board of Finance respectively.
such work or improvement, the cost of which is to be wholly paid otherwise

and thereafter the term of office shall be three years.

suspend the
shall, at its first session
may
city of
vacancies
which
said

The existence of any vacancy in the Board shall not of itself
exercise of its powers and duties. The Leeisla»ure
after the adoption of this article, and thereafter, from time to time, as
be necessary, provide by general law for tbe registration in every
electors qualified.'to vote for the Board of Finance, and for filling
in said board, and may change the number of members.of
the
he ard shall consist in any city, provided that the number shall not, in
case, be less than six, and that one-third of the board

any

shall be elected
annually.
Sec. 5. The Hoard of Finance shall, in every fiscal year, m '.be estimates of
the sums of money necessary for the proper administration of the city gov¬
ernment during the next fiscal year, and which are to be raised by taxation or
supplied by the revenue of the city derivable from other sources and applica¬
ble to general purposes. Such estimates shall include the sums requisite for
the. payment of the interest on bonds or other citv debts drawing interest, the
principal of any debts payable during the year, judgments against the city,
the

sums

sufficient to make

good all deficiencies in the payment o’ taxes on

deficiencies in the collec¬
tion of taxes on real estate for any preceding year which may be found by the
board to be uncohectible, and also any deficiencies in the collection of the
estimated reve ues from other sources, and all other sums n quired by law to
be raised by taxation. The estimates shall also separately state the aggregate
amount of moneys in the treasury, or receivable during the next fiscal year,
applicable to general purposes, in which may be included any prior unex¬
pended appropriations which, in the judgment of the board, may not be
required to meet existing liabilities: and shall, in like manner, separately
state the aggregate amount to be raised by taxation.
The board shall submit
the estimates, when completed, to the Mayor, who shall, within ten days
thereafter, return the same to the board with his approval or with his objec¬
tions, if any he h ive, in writing, spec fying the items objected to ; and the
items thus objected to, but no others, shall be reconsidered and finally deter¬
mined by the b ar^. The board shal\ after the return ©f the estimates by
the Mayor, and the action of the board upon the items objected to, if any, or
in the event of a failure of the Mayor to return the same as above required,
proceed by resolution to declare the estimates to be final and adopted, and the
several sums of money therein estimated as necessary, shall become and be
appropriated to and for the departments and officers therein mentioned,
f nd for the objects and purposes therein mentioned.
The aggregate amount
to be raised by taxation shall be stated in such resolution, and shall there¬
upon be levied and collected in the manner provided by law for the levying
and collecting of the city taxes. The Board of Finance may, during any cur¬
rent fiscal year, by a unanimous vote, and with the approval cf the Mayor, in
case of pestilence, conflagration or other unforeseen public calamity, transfer
sums of money appropriated to one department, object or purpose, and not
required to satisfy existing liabilities, to another department, object or pur¬
pose. A vote of a majority of the entire board shall he necessary to the pas¬
sage of any measure or resolution; and a vote of two-thirds of the entire board
shall be necessary to the adoption of the estimates hereinbefore provided for,
or any item thereof, or 10 authorize the issue of any stock or bonds, and in
perconal estate for the last preceding year, and any

such other cases as are hereinafter specified. It shall be the duty of the sev¬
eral departments, boards, and officers and the Common Council to furnish
such statements and accounts as the Board of Finance may require, and at
such times and in such manner as the said board may prescribe; and the
Board of Finance shall also have power to examine the books and papers of
the several executive departments and officers, and to examine such officers
upon oath concerning their official business.
Sec. 7. No debt or liability shall be incurred by any department, board or
officer in any city, unless there shall be at the time an unexpended appropria¬
tion applicable thereto, sufficient to satisfy the same and all debts and
ties previously incurred and payable out of such appropriation; and all
contracts and engagements in contravention hereof shall be void. Nor shall
any debt or liability of the city be paid, except out of money in the treasury

all

liabili¬

appropriated to the purpose of paying 6uch debt or liability. No city govern¬
ment, or any department thereof, shall grant any extra compensation to any
officer, servant, agent, contractor or employee.
Sec. 8. The Legislature shall itself have no power to pass any law for the
openiDg, making, paving, lighting, or otherwise improving or maintaining
streets, avennes, parks or places, docks or wharves, or for any other local
work or improvemen t in or for a city, but all authority necessary for such
purposes shall be by law conferred on the city government; nor shall the
Legislature impose any eharge on any city or civil division of the State con¬
taining a city, except by a vote of two-thirds of all the members elected to
each House. Any local worn or improvement ia or for a city, the*cost of
which is to be wholly paid




by the city at large, mutt be authorized by

vote of two-thirds of

than by the city at large, must be authorized by the
all the members elected to the Board of Aldermen,

with the consent of a
majority in interest, to be ascertained in such manner as the Legislature may
prescribe, of all the owners of land within the district of assessment limited
for the cost of such work or improvement. Any such work or improvement,
the cost of which is to be paid in part by the city at large aud in part by
local assessment, must be authorized by a resolution passed by the vote of
two-thirds of all the members elected to the Board of Aldermen and Board of
Finance respectively, with the consent of a majority in interest, to be ascer¬
tained as hereinbefore directed, of all the owners of the land within the pre¬
scribed district of assessment.
Sec. 9. No money shall be borrowed by any city government for the purpose
of defraying any of the expenses of the city for which an
been made, except in anticipation of the revenue if the year in which the

appropriation has

bor¬

same may be borrowed, applicable to such purposes ; and all moneys so
rowed must be paid out of such revenue, or out of revenues
pro¬
vided to supply any deficiency in the collection thereof. Provided, however,
that temporary loans, in anticipation of taxes, maybe renewed, so far as
taxes may not have been collected, when the same are, in the opinion of the

specially

such

board, fully secured by valid liens on real estate. No city shall borrow any
money for any other purpose, except under aud in accordance with the fol¬
lowing conditions and limitations in addition to any other conditions and
limitations contained in the Constitution :

1. The debt must be for some single work or object only, and must be
authorized by a resolut on passed by a vote of two-thirds of all the members
of the Board of Finance and approved by the Mayor, distinctly specifying such
work or object, and the amount of the debt to be iucurred.
2. The Legislature must, before the creation of such debt, assent thereto
a law passed by a vote of two-thirds of all the members elected to each House.
Such law shall also distinctly specify the single work or object for which the
debt is created, and the amount of the debt authorized, and shall contain pro¬
visions for a sinking fund to meet the same at maturity, aud requiring at least
ten per cent of the^principal to be annually raised by taxation and paid
the sinking fund.
Sec. 10. Except as prescribed by the first section of this article, no change
in tho organization of, or in the distribution of powers in, a city government,
or in the terms or tenure of office therein, shall be made by the Legislature,
nn’oss by an act passed upon the application of the city made by
both of the Board of Aldermen and of the Board of Finance respectively,
approved by the Mayor, or by an net which shall have received the sanction
of two successive Legislatures.

by

into

resolution

Catest iilonetan) antr Commercial
RATES OF B VCHANOB IT LONDON

Cuglial) News

AND ON LONDON

AT LATEST DATES.

the State census next preceding the election, of not more than 25,0C0 inhabi¬
tant?, the board shall consist of six members. In cities having a population of
over 25,000 inhabitants, and not more than 5 \00!>, it shall consist of nine mem¬
bers. In cities having a population of over 50,060 inhabitants, and not more
than 100.000, it shall consist of twelve members, and in cities having a popu¬
lation of over 100,000 inhabitants, it shall consist of fifteen members. At
the first election, one-third of the board shall be elected for a term of one
year, one-third thereof for a term of two years, and one-third thereof for a
term of three years ;

215

THE CHRONICLE,

1877.]

GE AT LONDON—.
FEB. 24.

EXCHANGE ON LONDON.

LATE8T
ON—

KATE.

TIME.

Amsterdam... 3 months.
4 4

Antwerp
Hamburg

it

12.2Kai2.SK
25.32X&25.37X
20.59

44
14

44

....

Cadiz
Lisbon
Milan

44
44

90
3

days.
mos.
44

Genoa

44

Naples

•

Valparaiso.....

•• •

•

!>

»

•

•

•

•

.

••

.

30

4

,,,,

,

,

....

3 mos.

29 25-32-

....

Feb. 19.

....

....

....

•

•

•

•

-

•

•

•

•

.

•

Hong Kong...

Shanghai
Penang
Alexandria....

....

[From our own

•

21.
Feb. 23.
Feb. 8.

»

90

t

•

►

48

3 mos.
60 days.
90 days.

4.83K
24*

22.
21.
21.
2!.
16.
21.

6

In the state of the money

1-16@25X.

1*. 9 11-164.
1». 10 3-16ef.
4s. 2%d. per dol.
5s. 7Xd- per tael.
4s. 5Xd@4s. 6<#»

mos.
4k

44
44
44

96X

3 mos.

correspondent.!

Feb. 24, 1877.

has

market during the week there

important feature.

The supply of commercial

bills

little finance paper
employment^ is consider¬
of the demand, and there are indications of pro.

continues very limited, and there is
afloat.
The amount of capital seeking

ably in excess

26

days.

London, {Saturday,

no

•

27.24

•

•

.

.

•

short.
•

Feb.'

Feb.
Feb.
Feb.
Feb.
Jan.
Feb.

1*. 9%d.
Is. 9ytd.

days.
44

Calcutta.

been

12.89
20.46-

3 mos.
short.

,,,,

..

Pernambuco..
Montevideo...

Bombay

•

•

Feb. 15.

4dK@47X

....

....

•

44

©25.35
12.b2Kai2.b7K
20.59 ©20.63
20.59 ©20.63
29 @29)-,'
4SXa48X
52X@52X
27.62 Y% ©27.67X
27.62K@27.67X
27.62Xa27.67X

44

Madrid
New York
Rio de Janeiro
Bahia
Buenos Ayres..

44
....

©20.53

3 months. 25.30

Frankfort
St. Petersburg

12.05
25.16
20.37
25.14

short.

§

25.12X&25.22X

short.

Paris
Paris
Vienna
Berlin

HATH.

TIME.

DATE.

very

The Bank return is now favorable, the proportion
having increased from about 46| to
per cent. Annexed are the quotations for money :
Per cent, j Open-market rates:
Per cent*
Bank rate
2 | 4 months* bank bills
IK®*
Open-market rates:
l 6 months* bank hills
2Xa*K
30 and GO days’ bills.
lXaiX I 4 and 6 months’ trade bills. 2X@3
longed
of

ease.

reserve

3

to liabilities

months*bills

«

The rate of interest
count houses for

allowed by the joint-stock

banks and dift-

deposits remain as follows:

Per cent.

...nil@t
<©1
@1
@1

Joint-stock banks
Discounthousesat call
Discount houses with 7 days* notice.
Discount houses with 14 days* notice

The

following are the rates of discount at

the leading cities

abroad:

Paris.......
Amsterdam

Bank Open
rate, market,
per cent, per cent.
3
IK

3

2K

Hamburg

4

2%

Berlin
Frankfort.
Vienna and Trieste..,.
Madrid, Cadiz and Bar¬

4
4

celona
Lisbon and Oporto...
St. Petersburg

6

8

6

5
8

%X
2X

4% 8X®4

6

Bank
rate,
-

Brussels

per cent, per

.....

Turin, Florence

Open
market

and
4

Rome
4

Leipzig

5

Genoa
Geneva
New York.
Calcutta

Copenhagen..

cent

2X

2X
3@5.
9
..

....

4*

■

•

•

4*

2] 6

THE CHRONICLE.

[March .0, 1877i

1876-7.
1875-6.
1874-5.
The weekly sale of bills on India was held at the Bank of
1678-4.
cwt.
cwt.
cwt.
cwt
England on Wednesday. The amount allotted was £175,000* Imports of wheat
17,336,430 89,136.386 18,7(2,097 22.494.715
2,867,039
3,295,637
3,723,669
3.3*3.942
£180,400 being to Calcutta, £48,600 to Bombay, and £1,000 to Imports of flour
Sales of home-grown produce
21,65U,5C0 20,874,(0) 27,427,250 24,738,809
Madras. Tenders on all Presidencies for telegraphic transfers, at
Total
42,362,968 53,306,028 49,853,016 50,462,455
Is. 9|d. the rupee, received about 58 per cent., and for bills at Exports of wheat and flour....
120,038
158,073
599,387
1,571,258
that price in full. This result shows a perceptible diminution in
Result
41.763.581 53 185,935 49,664,943 48,891,203
the demand for the means of remittance to the East, and the Average price of English wheat... 48s. lid.
46s. Id.
-44s. 6U.
6.2s. 2d;
The following figures Bhow the imports and exports of cereal
price of silver has declined to 56d. per ounce.
There has been very little demand for gold for export, and the
produce into and from the United Kingdom since harvest—viz.,
supply held by the Bank of England has somewhat increased. from the 1st September to the close of last week—compared with
The total held by the establishment is £26,758,304, against the
corresponding period in the three previous years:
IMPORTS.
£23,062,580 la3t year. The prices of bullion are as follows:
.

..

peroz.

d.
s.
s. d
77 9V
77 11
@
76 3 ©76 9
73 9 @
76
3
(?176 6

per oz.

76

SOLD.

Bar Gold
Bar Gold, reflnable
....

..

...

Spanish Doubloons

standard.
standard.

per oz.
per oz.

...nominal,

South American Doubloons
United States Gold Coin
German Gold Coin

....

....

per oz.
.per oz.

....

SILVER.

Bar Silver, Fine
Bar Silver, con’ng 5 grs.
Mexican Dollars

standard, buyers.

56

per oz.,

standard.

©
@
(ft

per oz.

Gold

@
®

Five Franc Pieces

per oz.

Quicksilver, £8.

Discount, 3

....

a.

per oz.

per oz.,

Spanish Dollars (Carolus)
Annexed is

3X@

d.

...

...

...

per cent.

showing t lie present position of the Bank
of England, the Bank rate of discount, the price of Consols,
the average quotation for English wheat, the price of Middling
Upland cotton, of No. 40’a Mule twist, fair second quality,
«nd the Bankers’ Clearing House return, compared with tb^
lour
_

a

previous
,

statement

years:
,,

,

Circulation, including

bank post bills
Public deposits
Other deposits
Government securities.
Other securities
Reserve of notes and

1873.
£

1974.
£

84,371,452 25,203.721

1875.

1876.
£

1877.
£
27,4^7,610

£
25,680,568
6.676,0)3

26,577.489

17.559.329

18,018,384

6,857,731
23,152,710
16.026.176

14,644,110
17,977,144
13,582,313

8,680,644
17,68 ,844
13.896,607

13,603,784

18,885,911

21,i>62,601

17,682,516

18,185,042

19,461,497 17,576,949

coin
15,6)1,997
Coin and bullion ir
both departments.... 25,224,687
Bank-rate
8X P- c.
Consols.
92X

13,150,146

10,687,323

11,865,745

14,531,064

22.967,936 22.064,688

23,062,580

26,758,304

English wheat

Mid. Upland cotton
No.40s, mnle twist fair

56s. ud

9£d.

3yt p. c.
92X

62s. lOd.
8d.

3X P. c.
93X
41s. 6d.

7Xd.

8,940,446

4 p. c.

■

2 p. c

94*

95Xd.

42s 8d.
6 5-16d.

51s. ud.

6%d.

Sd quality
Is. Id.
Is. Od.
lid.
Is. 3d
ll!4d.
Clearing House return 100.203,000 100,365,000 97,080,000 87,835.UOO 90,93 1.0U0
There has been a discussion this week in the House of Lords

the Eastern

Question, but nothing very fresh transpired. The
speeches delivered by the Duke of Argyll and by the members of
the Government were excellent ; but beyond the pleasure of
perusing them, the public have not derived much enlightenment
I mentioned last week that it was impossible for Turkey to
endeavor to carryout the proposed reforms, when Russia massed
her troops on the Turkish frontiers and thus threatened war.
Lord Derby said the other night that " the natural and regular
order of thing* in any country is peace first aud reform afterward
For no country can effectually reorganizs it* administration when
it has something like half a million of men under arms watching
against invasion, and when its finances are strained to the utmost
to ke»p up tlie'army.
Under these circumstances, a beginning
may be made, but it can hardly be more than a beginning.
Time
and peace may reasonably be asked by Turkey, if she is in any
way to work out the policy of the Conference.
With time and
peace there is at least a possibility of success ; without them
on

there

cau

be none.”

The trade for wheat has been somewhat firmer this week, and
recovery of about Is. per quarter has taken place in prices.
Very little English wheat is offering, and the supply afloat is
reduced to 1,895,000 quarters. A storm of wind and rain, which
our meteorological department was informed
by the United
States department was travelling eastward, broke over these
Islands on Monday night; but the weather is now much colder^
and hopes are again entertained of drier weather. Agricultural

a

work is in

backward state, and fine weather is very necessary
in order to recover arrears. The wheat crop looks well in those
a

^districts in which there have been
The return for the week

no

floods.

1876-7.
Wheat

cwt.

Barley
Oats
Peas
Beans

17,836,430
6,933,873
5,036,761
712,442
2.071.966

Indian Corn
Flour

15,422,216
2,867,038

1875-6.

1874-5.

29,136,:-86
5,201,249
4,760,854
'857,726
1,862.089
9,864,940
3,295,6)7

18,702,097
8 252.453
4,468,864
955.79)
1,166,761
6,597.816

3,723,669

,

1872-4.
22.404,713
4,660,126
4.590,618
458,124
2,545,700
7,664,123
3,323,912

EXPORTS.

....

...

.

Wheat

Barley

Oats
Peas
Beans

Indian Com
Flour

cwt.

580,254
16,180
66,947

15,347
16,020
255.619

IS,123

110.061

14,195
140,v90
12,761
4,857
21,093
10,024

151,435
152,0)6
57.464
12,274
1,101
33,2 >7
36,638

1,481,002
83,623
57,212
7,886
2,131
82,249
87,250

Meat

being still very dear, the retail price of prime beef and
being about Is. per lb., the American meat trade is just
now attracting a good deal of attention, and the supplies arriving
from the United States and Canada are quickly purchased, as
the price for prime joints is only 7d, aud 8d. per lb. Up to the
present time, very little of the.meat has come to London, a
readier and more convenient market being found for it at Liver,
pool, Manchester, Sheffield, and other manufacturing towns; but
on
Monday last, several of the large arches under the Cannon
street railway station in this city were opened as a market, which
seems likely to be a permanent one.
At the present time, notwith'
standing that the winter has been a very mild one, it is not neces.
sary to reduce the temperature; but works are in progress, and
are
nearly completed, for refrigerating the market during the hot
summer months, as without some refrigerating processes
being
carried on, it would be impossible to conduct the trade during
the summer.
The meat on being landed at Liverpool is placed
in vans of special construction, invented by Mr. Acklom, which
are conveyed on adapted railway wagons belonging to the London
& Northwestern Railway Company, and are taken in these
ice vans to the market.
The thermometer registers in the
about
van
45 degrees
Fahrenheit.
It is estimated that
about
20,000 tons of meat can be placed in this new
market, and it will certainly be a great boon to this country
if the trade proves to
be a success, - and develops itself
into more considerable proportions. The Great Eastern steam¬
ship is now under repair, and an endeavor is being made to raise
some £50,000 to furnish the vessel with new and powerful boilers.
Offers have been made to engage the vessel for the conveyance of
meat and general merchandise between New York and Liverpool,
but the chairman stated at the meeting held on Monday that in
any arrangement the board should have a certain money security
that the ship would be handed back without liability, a provision
which had not been forthcoming in the offers made.
The Board of Trade annual collection of agricultural returns
gives in the volume for the year 1876 some official returns ob¬
tained from Russia for the first time.
They relate only to Russia
in Europe, and to the crops of 1872.
The area uuder wheat is
returned as 28,748,390 acres, but the produce of this large acreage
is estimated at no more than 157,938,000 bushels, which shows
an average yield of only 5£ bushels per acre, or about a fifth of
the average yield in Great Britain. The area under barley or
bere is stated as 15,511,600 acres, and the estimated yield as 124,733,750 bushels, or 8 0 bushels per acre ; under oats, area 82,818,890 acres, and yield 543,622,750 bushels, or 16*6 bushels per acre,
mutton

ending February 17 states that the under rye, area 66,398,540 acres, and yield 546,832,000 bushels, or
deliveries of home-grown wheat in the 150 principal markets of 8*2 bushels per acre ; buckwheat, area 11,307,660 acres, and yield
England and Wales amounted in that period to 41,440 quarters, 86,256,500 bushels, or 7‘6 bushels per acre. The area under pota¬
against 44,714 quarters last year; while in the whole Kingdom it toes is stated at 3,169,010 acres, and the yield 370,876,000 bushels,
'a estimated that they were 165,$60 quarters, against 178,900 or 117 bushels per acre. Under beet root for sugar 333,450 acres
quarters. Since harvest, the deliveries in the 150 principal mar¬ in 1871, and the yield 10,545,137 cwt. Under tobacco 98.800 acres
kets have been 1,203,305 quarters, against 1,159,652 quarters; in 1871, and the yield 80,001,148 lbs.
Under flax 2,247,700 acres
while in the whole Kingdom it is computed that they have been in 1872, producing 17,292,000 bushels seed and 4,837,219 cwfc.
4,813,220 quarters, against 4,638,600 quarters in 1875-76. The fibre. Under hemp 812,360 acres, producing 14,410,000 bushels
increase this season over its predecessor is now reduced, there¬ seed and 1,934,838 cwt. fibre. There are also 145,511,940 acres
fore, to 174,620 quarters. It is estimated that, without reckoning described as grass. The population of Russia in Europe is stated
the supplies furnished ex-granary, the following quantities of at 71,730,980 souls. The area, exclusive of lakes, is put at 1,244,wheat and flour have been placed upon the British markets 367,3H English statute acres, the woods and forests occupying
since last harvest:
527,426,510 acres.




THE CHRONICLE

10> 1877 j

March

Buxllah

UarKet Keporta-Per Cable.

Thedaily closing quotations in the markets of London and Liver¬

pool for the past week have been reported by cable, as shown in
the following summary:
London Monty and Stock Market.—The bullion in the Bank of
Fri.*
96 9-16
96 9-16

Tues.
96 £-16
96 7-16

Wed.

Consols for money. .9ft 3-16
“

Mon.
96 7-16
96 7-16
96 7-16

C.S.68 (5-20b, )’65(old) 106 #
**
“
1867... 109#
0. S. 10-408
1(8#
107#
New 5a

106#
109#
1(8#
107#

106#
109#
108#
107#

106#

961/*
96#
106#

110

110

103#
107#

108#

106#
110
103#

107#

107#

^account..96 3-J *

The

quotations for United States
103#

C. 8. new fives

new

Tbur.

96#
96#

3

Total since Jan. 1, 1-7?

:

Liverpool Gotton Market.—See special report of cotton.

Liverpool Breadstutfs Market.—

Mon.
d

Sat.

d.

0
9
10 8
10 5
10 8

24
9
10

Flour (extra 8late)
#bb] 24
Wheat (R. W. spring),
cti 9
“

(Red winter)... . “
(Av. Cal. white).. 44
'*
(C. White club)... “
Corn(n.W. mix.) # quarter 24
Peas (Canadian) V Quarter 36
*»

Tues.
s.
d.

s.

s.

6
0

0
9
8
5
8
6
U

10
10
24
36

24
9
10

36

10
10
24

Liverpool Provisions Market.—
Sat.

d.

8.

Beef (prime mess)
.# tc. 77
Pork (W’t. mess).... #bbl 63
Bacon (l’g clear mid.)N cwt 39

6
0
6
50 0
75 0

.

“

lard (American)....
Cheese (Amer’n fine)

“

Tues.
p. d.
77 0
62 6
39 6
49 0
75 0

Mon.
8. d.
5 6
10 6
14
10
40 6
75 0
28 6

Tues.
s. d.
5 8
10 6

Sat.

d.

Rosin (common)... tfewt..

5

7
6
3
7
3

36

Wed.
b.

7?
62
39
49
75

24
9
10
10
10
24
36

7
6
3
7
3
0

24

Thur.
8. d.

d.
0
6
6
0
0

77

0
7

6
3
7
3
0

Frit
d.
0
6

s.

0
6
0
6
0

62
39
48
*75

d.

e.

0

10

0

Frit

d.

24
9
10
10

Wed.
B. d.

77
62
39
48
75

5

Tnur.
5
10

6
6

10

d.
6
6

8.

0
6
0

10
40 6

70
28

Fri. t
0. d.
5

6

10

13#

13#
10
40 3
70 0
28 0

2,421,692
1,018.642
258.013
218.524

*.
..

.

6

13#

0
0

244

Gold coin

1,605

Silver coin

662,444

Gold coin
Gold coin..

192,990
164,076
763

Go d coin

$1,027,407
.......

2,324,063
$3,351,470

Same time in—
1871

$2,710,973
3.490,795

.

2,230,377
1,103,837
370,093

1868

1867.;

lowing summary of receipts and expenditures of all companies
doing business in the State of New York for the 27 years, 18491875:
Premium receints

$877,577,307

.

177,318,584

receipts, &c....;

Interest

Total

receipts.

Paid claims (*0 22 per cent) ...
Paid dividends (14*70 per cent)
Paid lapsed and purchased policies

Total

(10 75 per cent).

$1,054,890,891
213.326,566
If 5,040,100
113,393,614

$481,761,080

paid policy-holders (15-67 per cent)

Paid stockholders (0.55 per cent)
Paid expenses and taxes (15*92 per

5,749,814

167,925,637

cent)

$655,436,031

expenditures

receipts, including earnings of stock, 16*47 per cent has
to stockholders, working expenses and taxes; 45*67 per cent

of total
gone

10
40 6
70 0
28 0

Gold coin

Scribner’s Monthly on Ltfe Insurance.—An interesting
in Scribner's Monthly for March, which all who wish
information about Life Insurance should read, contains the fol¬

Total

6
(fine)
44
10 6
13#
Petroleum(reflned)... .# ga!
14
44
10
(spirits)
“
10
40 3
Tallow(prinfeCity)..# cwt. 40 6
70 0
Cloverseed (Am. red).. 44
75 0
28 6
8pirits turpentine
“ 27 6
London Produce and Oil Markets.—
“

0.

1875
1874
1873
1872

article

Thur.

d.
24 0

9
10
10
10
24
36

Mon.
d.
77 6
62 6
39 6
49 6
75 0

e.

Liverpool Produce Market.s.

0
7
6
3
7
3
0

Wed.
8.

.

$587,401

1876.

103#

187609.

Laurent
Havre
iClch. 1—Str. llanunonii
Havre
Mch. 1 -Schr. L. A. Cottiugham St. Martins
Mch. 1—Str. St.

Same time in-

fives at Frankfort were
103#

....

.

San Andres

Vera Cruz

Mexico

Total for the week
Previously reuorted

England has decreased £487,000 during the week,
sat.

Feb. 26 Brig Cleta
Feb. 27—Str. City of

217

quite one-half—has been already returned to policy holders,

—not

and 37£ per cent is now held for their benefit, leaving unaccounted
for $3,995,097, or about one-fifth of one per cent, the reason of
which is explained in the article. Incidentally and indirectly—

simply because it could not truthfully state the facts and be
otherwise—the article, as liaB been said by a disinterested critic,,
£ 8. d.
is a powerful argument in favor of the advantages of age in life
£ s. d. £. 8. d. £ s. d.
9 10 0
9 10 0
9 10 0
Lins’d c’ke( obi). # tn. 9 i0 0
insurance in respect to security. That age must be an advantage
50 0
50 0
50 0
50 0
Llnseedf Calcutta)
is inferable also from recent developments in the business itself.
Sugar (No. 12 D’ch std)
30 6
30 C
30 6
30 6
The thirty second annual report of the New York Life, for ex¬
30 6
on spot, $ cwt
30 6
Sperm oil
# tun.. 89 0 0 89 0 0 89 0 0 89 0 0 89 0 0 89 0 0 ample, is an illustration of the value and advantages of age in
35 0 0 35 0 0 35 0 0 35 0 0 35 0 C
“
35 0 0
Whale oil
insurance.
It would be unnatural indeed to find the company
24 6
24 6
24 9
24 9
24 6
Linseed oil....# cwt.
24 0
old and weak, and we find it to be old and strong.
Its clear, full
*
and satisfactory report—in the double form of a statement of
Quotations up to 1:30 P. M.
t« n account of interruption to the cable, we bave received no quotations
income, outgo, and assets, and a business-like balance sheet—shows
from Liv. rpool to-day, and have therefore repeated yesterday’s prices.
that its position was never better than now. For it has largely
increased the assets and surplus, the latter being extraordin¬
arily large; and in a time of unexampled trial it has proven the
ability of its management and the value of its reputation by
Imports and Exports for the Week.—The imports this
materially increasing its business during the past year.
week show a decrease in dry goods and an increase in general mer¬
United States Treasury.—The following table presents a
chandise. The total imports amount to $6,619,813 this week,
weekly summary of certain items in the United States Treasury
against $5,253,264 last week, and $7,022,002 the previous week.
The exports amount to $4,900,232 this week,against $4,314,520 last statements:
,—U. S. Bonds held—, Bark Notes
Com cerweek, and $4,670,161 the previous week. The exports of cotton
For
For
in Circula- ,—Bal. in Treasury.—> tifleatea
the past week were 5,286 bales, against 4,961 bales last week. 1876.
tion.
Coin.
Circulation. Deoosits.
Currency, outst’d’e
March 11 355,341,715 18,741,500 340,046,776 69,657,203
The following are the imports at New York for week ending (foi
6.147,783 34,797.600
70,977,440 4,762,257 35,4*24,000>
dry goods) Mch. 1, and for the week ending (for genera) mer¬ March 18 353,781,100 18,721,500 339,646,214 73,957,609 4,347,073 31,234,800
March 25 353,695.700 18,671,500 339,325,239
Tuee

Mon.

Sat.

Wed
£ 8. d.
9 10 0
50 0
#

.

Thur
£ 8. d.
9 10 0
£0 0

Fr

t

.

.

Sommcrcial an& JtlisceUanrotts Ncujs.

,

chandise) Mcb. 2

:

FOREIGN IMPORTS AT NEW YORK FOR THE WEEK.

1874.

1875.

1876.

$2,384,621
6,258,922

$3,*33.542

General merchandise...

$2,773,044
3,926,610

$2,132,672
4,487,141

Total for the week.

$8,643,543

$10,819,858

Previously reported....

62,012.909

56,000,047

$6,699,654
53,761,883

$6,619,813
46,424.431

$70,686,452

$66,819,905

$60,464,537

$53,014,244

Drygoods

Since Jan. !

In

7,0j6,316

1877.

report of the dry goods trade will be found the imports
of dry goods for one week later.
The following is a statement of the exports (exclusive of specie'
from the port of New York to foreign ports, for the week ending
our

Mch. 6:

EXPORTS FROM NEW YORK FOR THE WEEK.

1874.

For the week

Previously reported....

1875.

$3,934,683
13.477,663

$3,464,070
35,S92,266

1876.

1877.

$4,493,987

$4,900,232
42,875,118

37,649,932

Since Jan. 1
*47.412,349
$39,361,336
$42,11S.919
$47,775,350
The following will show the exports of specie from the port of
New York for the week ending Mch. 3, 1877, and also a com¬

parison of the total since Jan. 1 with the corresponding figures
for several previous years:
Feb. 27—Str. Tybee
Men. 1—Str. Suevia
Mch. 1—Str. Canima

St. Domingo
London...

American gold...,
;

Silver bars

Hamilton,Bermuda.*ng. 2s. pieces...
Mex. silver coin..

Mch. 3—Str.City of Richmond.Liverpool

Mch. 3—-Str. Neckar

London

..Silver bars

52,060

Mex. dollars

18,030

^713,430

Total for the week

Previously reported

2,166.384

Total since Jan. 1, 1877
Same time m—
1675

IS*
J§73

...

i

$7.783,28111870
14,155,802

$2,899 814

same time m—

$5,946,780

1869

6,«54,304

5,984.483 11868
12,057.862 | 1867

12.795,306
5,746.117

3,207,119 11866

4,957,833

The imports pf
ppecie at this port during the same
been as follows :
Feb. 26—Str. Acapulco,,,, ,ll,,/A*pmwall....,...Gold coin.;




$324
50,609
2,040
591,006

peiiods have
$3,139

Silver coin

1.337
690

Gold bullion

©pig duet

*

120

April 1.. 352,323,950
April 8.. 351,508,450
April 15 350,400,000
April 22. 347,800,350
April 29. 346,775,350
May 6... 345,962,850
May 13. 345,321.850
May 20.. 344,833,850
May 27... 344,623,850
June 3.. 341,950,850
June 10.. 343,756,050
June 17.. 342,333,000
June 24.. 341,752,750
July 1... 34l,‘i94,750
fuly 8... 341,259,750
July 15.. 340,922,850
July 22.. 340,249,850
July 29.. 340,281,850
Aug. 5.. 339,322,850
Aug. 12. 839.678 8:0
Ang. 19 . 339,395,85)
Aug. 26.. 336,823.850
.

.

Sept. 2..
Sept. 9..
Sept. 16..
Sept. 23..
Sept. 30..

338,373,850
337,650,850
337.318,650
337,906,100
337,942,300

Oct. 7.... 337.535.600
Oct. 14.. 337,020,800
Oct. 21.. 337.269,800
Oct. 28.. 317,499,800
Nov. 4-6*
Nov. 11-13*337.954.800
Nov. 18.. 337,849.800
Nov. 25.. 337.996,000
Dec. 2... 337,375,803
Dec. 9.. 3^7,594,00
Dec. 16.. 337,602,8C0

18,696,500
73,756,794
18,628.000
74.154,593
13,600,000 338.400.000 75.179,539

18,623,000 337.635.219 76,148,711
18 623 003 316,985 556
18,623,000 336,520,936 76,600,000

7,140,000
18.623.000 335.970,306 73,171,877 10,366 878
18,623,000 315,197,105 71.000,000 10,000,000
13,573,000 334,8 3,305 66,177,936 10,221,886

18,573,000
18,823,000
18.823.000
18,823,000
IS,673,000
18,673,000
18,673 030
18,723,000
18,723,000
18,723,000
18,723,600

334.208,588
332,680.(06
334,4'.0,009 65,510,000
333,589,505 66,900,962

332,615,316

10,0 0,000 22.500,000'

10,778,613 2*4,967,000

329,037,190 61,174,649 14,693,699 29,715,600
328,034,612 59,826,455 14,285.146 29,266,600
18,723,000 327,469,841 61,156,039 12,572,4*36 29,341,900
18,723,000 326.562,064 62,580,612 10,922,317 29,120,000
-18,723,000 325.917,652 62,511,956 11,666.805 29,969,800
18,743,000 325,350,188 60,310,982 11,327,607 30,557,700
18,743,000 324,832,877 63,204,594 10,7'.7,o23 31,678,100
18,758,000 324,890,096 63,447,890 10,995,217 30,969,400
18.828,000 324,853.6*>7 64,591,124 12,524,945 29,777,900
19,153,000

324,626,471

66,426,103

19,153,000

324,970,142

78,537,832
81,485,046
78,362,976
88 5’2,0i0
84,559,701

10,458,480 40,274,200
9,b83,130 39,618.700
9,452,039 39,853,400

71,273,106

19,153,000 323,100,597 74,741,271

19,153.00 ) 322,680,523 75,688,077
19.153 000 321,799,t08 75,158,800

19,103,000 322,711,479
19,053,000 320,552,274

19,053,000

321,825,931

Dec.21-26*337,914,800

19,017,000

322,674,824

19,037,000 321,526.906 88,807.635
19,062,000
19,062,800
19,087,000
19,199 000
1 9,199,000
19,149,000

12,664,047 30.266,(00

13,013,<88 30,671,300
13.229,346 32,210,100
12,624.707 33,773,700
12,248,524 33,521,700
12,931,083 33,786,200
11,672,484 35,753.300
11,487,829 37,842,300

19,151,000 822,792,226 68,165,859

Dec. 30..

337,5>1*,30U

*

27,200.000
27,932,600
26.500 000
24,756.700-

331,618,374 60,940,982 11,55>,823 30,486,96a
331,839.109 60,926,366 11,572,526 30,125,900
329,973,453 61,470,219 11.792,725 30,319,000

18,981,000 321,981,801
18,9t.7,0o0 321,992,284
18.967.000 320.099.671

1877.
Jan. 6-8* 338,326 700
Jan. 13.. 337,993,700
Jan. 20.. 338,545,200
Jan. 27.. 839,032,200
Feb. 3-5* 339.121,950
Feb. 10.. 339,611,450

5,965,626
4,760,923 30,931,600
5,205,593 29,790,100
5,252,010 28,457,600

3 21,315,595

86.227,585

3*1,205,451

86,718,939

8,184,078

8,342,565 52,744,300
53,508,400

8,626,476
320,30'.),288 68,598,400 10,566,385
319,665,206 87,825,845 11,461,084
Feb. 17.. 339,300,000
319,798,777 89.021,239 10,420,412
Feb. 24.. 339,339,050 1 9.119,00 0 319,364,647 90,150.663
9.035,7:2
Mar. 3-6* 338,591,350 19,206,000
89,011,883
8,106,750
* The earlier date
applies
the last three columns.

322.138.899 87,728,757

50.470,900

7.889,346 52.795,100

54,976,700
54.680,800
53,817,400
52,738,400

53,068,300

to the first three columns ; the l&ter date refers to

THE

213

<&l)e fiauktrs’
No National banks

©ajttte.

DIVIDENDS.
The following dividends have recently been announced :
Per
Cent.

Railroads.
New York Cent. & Hudson River (quar.)..
New York & Harlem, pref. & com., (quar.)

2

When i

Books Closed.

P’ABLB.j(Daya Inclusive.)
April 16: Mar. 16 to Apr. 19
April 2iMar. 16 to Apr. 2

2

FRIDAY, MARCH 9, 1877-6 P. M.
Tlie

Money

and

Market

principal events of

any

Financial

per cent over

inasmuch

as

an

advance

previous rates.

it

was

west-bound freights of 50

on

The

new

President’s

message,

temperate and conciliatory, was favorably

received in business circles.
Our local money

market is extremely

easy,

and

on

government

collaterals quotations are made at 1per cent for
and 2@3 per cent

call loans,
Prime commercial paper

for GO to 90 days.

Mar.

3.

5.

reg..Jan. & July. Ill#
coup...Tan. & July. 112%

May & Nov
reg..May & Nov. 107%
6s, 5-20s, 1865
coup..May & Nov.*107%
6s, 5-20s, 1865, n. i...reg. .Jan. & July.*108%
6s, 5-20s, 1865,n.i..coup..Jan. & July. 108%
6s, 5-20s, 1867.
reg..Jan. & July.*111%
6s, 5-20s, 1867
coup...ran. & July. 111%
5s,5-20s, 1868. ....reg..Jan. & July.*113
68, 5-208,1863
coup..Jan. & July.*113
5e, 10-40s.
reg..Mar. & Sept. 109%
58,10-408
coup..Mar.&Sept. 110%
5e, funded, 1881
reg..Quar.—Feb,*109%
5s, funded, 1881... coup..Quar.—Feb. 109%
4%*, 1891
reg.. Quar.—Feb. 105%
4%s, 1891
coup.. Quar. —Feb
6s, Currency
reg. .Jan. & July. 123
*

Mar.
6.

111%
112%

Mar.
7.

Mar.
8.

The range

Mar.
0.

112% 112% 112%
112% *113% 113%

112%
113%

*103% *108% *108% *108% *108%
*108% *108% *108% *103%

*108%
*108%
108%
*112
111%
*113%
*113%
110
110%

*108%
109
*112
112%
*113%
114
*110%
111

*109%

.

*109%
109%
*112%
112%
*114

114%
110%
111%

110% 110% 110% 110%
110% 110% 110% 110%
106
*106% *105% *106%

110
*105,%
*123

*10'.)% 109%
109% 109%
*112% 112%
112% 112%
*114
*114
*114
114%
110% 110%
*111
111%

*121% *123

123% *123

This is the price bid; no sale was made at the Board.

in prices since Jan. 1, 1877, and the amount of each
outstanding March 1,1877, were as follows:

class of bonds

President of the United

as

States, and, secondarily, tlie meeting of trunk-line officers in this

city, which resulted in

to, 1881
0e, 1881

Situation.—The

general importance this week were the

inauguration of Governor Hayes

Mar.
Int. period.
Called bonds
fle 5-20s, 1865

organized during the past week.

Company.

[March 10, 1&77

CHRONICLE.

Range since Jan. 1,1877
Lowest.
Highest.
Ill
Mch.
114% Jan.
111% Mch.
114% Jan.
107% Feb.
109^ Jan.
Mch.
108
111% Feb

6e,
68,
6b,
6s,
6s,
6s,
5s,
5s,

1881
reg.
1881
coup.
5-208, 1865
coup.
5-20s, 1865, new..coup.
5-20s, 1867
coup.
5-20s, 1868
coup.
10-408
reg.
10-40s
coup.
5s, funded, 1381.... coup.
4%8, 1891
reg.
4%s, 1891
coup.
6b, Currency.
reg.

Ill

Mch.

113% Mch.
109% Mch.
110% Mch.
109% Mch.

105% Mch.
121% Jau.

State and Railroad

/—Amount March 1

Registered. Coupon.
$193,719,400 $
19,075,750
64,943,450
97,035,550

114

Jan.

117%
114%
114%
112%

Jan.
Jan.
Feb.

141,990,900

3an

225.963,350

89,016,950
81,360,300
137,719,550

213,587,200

15,479,000

108% Jan.

21.994,800

52,575*400
292,030,800

38,649,5.0

3 123% Feb.

5

11,350,500

64,623,512

Bonds.—State bonds have been

com¬

fair amount of business paratively inactive.

Louisiana consols sold back to 63, and in
the absence of actual sales to-day were quoted at 62@63£. There
doing.
has been a good demand for Alabama consols, which have sold at
On Thursday, the Bank of England statement showed a decline
37.
South Carolina consols sold as high as 62£, and close at 60@
of £487,000 in specie for the week, and the discount rate remained 62. In common with other gold bonds returned from Europe at
unchanged at 2 per cent. Specie in the Bank of France declined the present low price for gold, we hear of some of the New York
City gold 6s coming back.
$,100,000 francs.
Railroad bonds have been about steady on the general list.
The last statement of the New York City Clearing-House The
coupon on Erie consolidated bonds due Sept, 1, 1876, is now
banks, issued March 3, showed a decrease of $1,808,700 in the being paid according to the reconstruction scheme, the Court hav¬
excess above their 25 per cent, legal reserve, the whole of such
ing authorized Receiver Jewett to issue certificates of debt for
the purpose of obtaining funds.
Suits have been commenced in
excess being $14,951,700, against $10,760,400 the
previous week. the U. S. Circuit Courts of Illinois and Indiana
by a bondholder
The following table shows the changes from the previous
against the newly organized Wabash Railway, and the appoint¬
week and a comparison with the two preceding years :
ment of a receiver is asked for.
In the Ohio and Miss, case Mr.
John King, Jr., of the Baltimore & Ohio road, has been made sole
1877.
1876.
1875.
Feb. 24.
receiver, and as he was approved of by most of the bondholders,
Mar. 3.
Differences.
Mar. 4.
Mar. 6.
Loans anddia. $258,751,700 $259,100,400 Inc. $318,700 $270,162,800 $292,505,800 the result is regarded
a3 a success for them. The contest for the
29,374,900 28,498,900 Dec. 876,000 22,701,600 13,305,100 control of the St. Louis & Iron Mountain Railrdad is pending at St.
Specie
Circulation...
15,536,300
15,533.560 Dec.
2,800
16,832,500
22,410,100
Louis; we have not heard distinctly of the issue raised by the
Net deposits.. 229,311,200 227,100,000 Dec. 2,211,200 223,426,400 230,110,900
Legal tenders.
44,713,300
43,227,800 Dec. 1,485,500
46,945,200
50,153,900 opposition, but suppose it to be on the ground of the present
managers paying floating debt in preference to interest on bonds.
United States Bonds.—Since the final settlement of the
It is reported that the Houston & Texas Central road has gone,
or is about to go, into the hands of a receiver,
presidential question, government securities have been decidedly
floating debt em¬
strong and prices show a material advance. The sales of 4£ per barrassments being the cause.
The following were sold a; auction :
cents

cent, with

is current at 4(3)5 per

a

,

by the Syndicate are going on rapidly, and many holders
five-twenties, apparently having the impression that their
bonds are to be paid off in a very short time, seem willing to
exchange them for 4^ per cents, without much regard to rates.
The larger part of the new bonds are now placed in this country,
and Washington dispatches say that $20,000,000 are held as
security for National Bank circulation, with the amount daily
increasing. The fact seems to be clearly established that 4 to 4£
per cent on a government bond will be about the highest rate
hereafter, unless some extraordinary and unforeseen event
should happen to damage the country’s credit. The demand for
these securities as a basis for banking, investment for trust
funds, etc., gives to them a strength which no other bonds can
attain.
The rather sharp upward turn in prices this week was
Stimulated by the fact that nearly all the dealers in this city had
run out of bonds, aod as soon as a demand
sprung up the advance
of

was

inevitable.

The Assistant

Secretary of the Treasury issued the forty-first
call for the redemption of 5-20 bonds.
The call is for $10,000,000, of which $7,000,000 are coupon and $3,000,000 registered.
Interest will cease after the 3d day of June next.
Following are
descriptions of the bonds :

SHARES.

SHARES.

50 Knickerbocker Fire Ins
103
50 N. Y. Equitable Ins
190
20 Manhattan Gaslight, ex-div..232
100 Merchants’ Fire Ins
161@161%
5 Jefferson Ins
175
12 U. S. Fire Ins
151

20 Park Fire Ins
154
25 Kings County Fire Ins
185
10 National Trust Co
90%
100 Penn. Coal Co
200&198%
165 Harlem & N. Y. Nav. Co
27%

Closing prices of leading State and Railroad Bonds for three
and the range since Jan. 1,1877, have been as follows:

weeks past,

Tennessee 6s,

42%
do
*42%
6s, new
North Carolina 6s, old
21%
♦78%
Virginia 6s, consol
do
do 2d series... *37%
Missouri 6s, long bonds
*105%
District of Columbia, 3-65s 1924 *71

BONDS.

..

*

Since Jan. 1,1877.—
Lowest.
Highest
jan. 11
42% Feb. 28 45
42
Feb. 28 43% Jan. 6
18% Mch. 7 22% Jan. 6
.

38

105% 104
72% 71

105%
72%

as

follows:

.1—Range since Jan, 1, ’<7.—*

•

Jan. 16
Jan. 16 38
Jan. 23 106% Feb. 8
2 74
Jan.
Jan. 30

58
64%
56% 50 Mch. 5
105% Mch. 5
106% 1C5% 106
109% *109% *108% 109% Feb. 19
90%
90%
90% 89% Feb. 17

83
84
*82%
107% *106% *106%

This

is

the price bid;

•

•

•

103%

sinking fund....

settlement, there

Closing prices of securities in London have been
Mar.
9.

*79*

<

no

sale

97

*114

♦104

*115%
*115
88
*120
98

103%
93%

103%
♦93

was made at

78
106
109
98
101
113
114

was

85

Jan.

5

108% Jan. 26
110% Jan. 29
93% Jan. 2
Jan. 26 86% Jan. 2

Jan. 2
28 110
15 113% Mch. 5
30 93
Jan. 30
2 104
Feb. 16
19 117% Feb. 5
5 118
Jan. 17
81% Jan. 4 89 Feb. 26
117
Feb. 7
Jan. 9 121
97% Feb. 7 102% Jan. 3
Jan.
103
9 104%'Feb. 6
92% Mch. 1 98% Feb. 6

Feb.
Jan.
Jan.
Jan.
Feb.
Mch.

the Board.

Stocks.—The stock market,

upon the whole, is decidedly firmer in tone
addition to the important influence exerted by

3,000—No. 14,801 to No, 15,050, both inclusive.
5,000—No. 5,832 to No. 6,767, both inclusive.

Mar.
2.

*16

Railroad and Miscellaneous

100—No. 6,251 to No. 6,350, both inclusive.
500—No. 3,951 to No. 3,960, both inclusive.

Feb.
23.

42%
*42%

Erie 1st, 7s, extended
*110
*111
Lake Sh*. & Mich. So.2d cons.cp
Michigan Central, consol. 7s... 104
103%
Morris & Essex, 1st mort
lit
*114%
1 >5% *114%
N. Y. Cen. & Hud. 1st, coup...
Ohio & Miss., cons. sink, fund *89
88%
Pitlsb. Ft. Wayne & Chic. 1st. *119
*119%
St. Louis & Iron Mt.. 1st mort.
*98%
do

$50—No. 481 to No. 490, both inclusive.

9.
♦42

Railroads.

Central of N. J. 1st consol.
Central Pacific 1st. 6s, gold ...
Chic. Burl. & Quincy consol. 7s
Chic. & Northwest’n, cp., gold
Chic. M. & St. P. cons. s. fd, 7s
Chic. R. I. & Pac. 1st, 7s

Union Pacific 1st, 6s, gold

REGISTERED BONDS.

Mar.

2.

old

•

COUPON

$500—No. 37,301 to No. 38,850, both inclusive.
1,000—No. 89,001 to No. 98,650. both inclusive.

Mar.

Feb.
23.

States.

and prices. In
the presidential

the decision in favor of the Delaware &

Hudson Canal Company, refusing a receiver, the declaration of
the usual dividend by New York Central & Hudson, and the

meeting of trunk-line officers and advance of 50 per cent, in
west-bound freight rates, which all contributed to give a firmer
U. S. 68, 5-20s, 1865, old...
106%
106% | 105 Jan. 2! 106% Mch. 1 tone to the general market. Western Union was sold down yes¬
U. S. 6s, 5-20e, 1867
110
I 108% Jan.
109%
2. 110% Feb. 6 terday because the quarterly dividend liad not been decided on,
U. S. 5s. 10-40s
108% 1 108% |xl08% Feb. 16 j 110% Feb. 6
New 5s
107%
107% 1x106% Jan. 17! 107% Jan. 16 though it is confidently said now that it will be declared next
week. A remarkable combination was announced just after the
date of our last report, by which Messrs. Dillon, Jay Gould and
Closing prices have baen as follows :




l

MK

|

Lowest.

I

Highest.

219

THE CHRONICLE

March 10, 1877.]

Jan. 1 to latest date.
-Latest earnings reported.1S76.
1877.
1876.
D77.
,

both the Northwestern and
David Dows, Henry H.
become directors in Union
said to be for the purpose of harmon¬

Oliver Ames become directors in
Rock, Island Companies, and Messrs.
Porter and W. L. Scott of these roads

Pacific. These changes are
izing the interests of these roads

of

rather than for the purpose

operations. The combination was interpreted
as a hostile movement against Chicago Burlington & Quincy, and
that stock fell off sharply, selling down to 101 on Monday, but
subsequently recovering in part. Railroad earnings are given at
length on another page. In regard to the change in commissions
any

present stock

York Stock Exchange, the terms as adopted by
Governing Committee in the amendment to the constitution
the New

at

as

follows

One

Ia.leased lines.Month of Feb
Indianap. Bl. & W...Month of Feb
Int. & Gt. Northern. .Month of Feb....
Month of Jan...
Kansas Pacific

the

are

Do.

Louisv. Cin. & Lex..Month of
Mo. Kansas & Texas.Month of
Mobile & Ohio
Month of
Nashv. Chatt. & St.L.Month of
Pad. & Memphis
Month of
Phila. & Erie
Month of

:

Jan...

one-eighth of one per cent when the transaction is made for any party
not a member of this Exchange, except to bankers, brokrrs, or active dealers,
to whom the minimum rate shall be one-sixteenth of one per cent. No busi¬
ness shall be done at less than this latter rate for any persons or firms not
members of this Exchange, nor for any banking or other institution. The
minimum rate to members of the Exchange shall be one-tbirty-secondj of one
per cent, except where one member merely buys or sells for another
not receive or deliver the stock), in which case the rate shall not be less than

5

176,265

88,034
472,340
232,382
150,466
15,110
232,550

254,722
234,131
173,385
21,502
231,193

19,687
28,280

2^289

26,823
39,695
312,116
59,837
18,561
112,261
664,987

36,833

St.L.A.&T.H.(brchs).Month of Feb....
St. L. I. Mt. & South.Month of Feb....
St. L. K. C.& North’n.lst week of Feb.
St. L. & Southeastern.2d week of Feb.
Tol.Peoria & Warsaw. Month of Feb....
Month of Jau.,.
Union Pacific

739,905
187,433
185,344
317,193

80,016

235,308
232,352
150,466
15,110
232,550

Pad.&Elizabethto\vn.3 weeks of Feb. .
St. Jos. & Denv. City.Month of Jan...

made for a regular

when the transaction is

quarter of one per cent

investor,

170,265
8 <,034

Jan...

249,235

142,649
116,186
206,402

93,176
133,000

Jan...
Feb....
Jan...
Jan...

73,650

8,008
304,683
451,760
125,941

365,067
95,772

Month of Feb...

Illinois Central

45,087

6,891

6,689
10,600
248,235

Clev. Mt. V. & Del.. .3d week of Feb..
Denver & Rio Grande.*3d,wreek of Feb.
Houston & Texas C.. Month of Jan...

379,900

48,539
18,949

80,579
815,354

88,246
777,400
288,581

131,779
159,150

815,354

49,772
55,499
304,683
877,923
263,352
276,035
256,532
206,402
80,016
511.181

234.181
173,385
21,509
231,198
26,823
78,575
639,306
305,936
119,229
211,469
664,987

the Trinidad extension, not included in 1876.
I'li© Gold market.—Gold haa been firmer, and the principal
one-fiftieth of oae per cent.
The above rates shall not apply to gold and cause for this seems to be found in the fact that the effect of
Government bonds.
President Hayes’ inauguration had been “ discounted” and tho
Total sales of the week in leading stocks were as follows :
market oversold in consequence. This week the purchases of
Del. & Lako West’n Central Mich. Del.L. St.Paul N. Y.
parties who had sold short have furnished a new support to
Cent. price, but this, it is concluded, must be temporary,
Hudson. Shore. Union, of N. J. Cent. & W.
pref.
5,360
2,050
10,650 13,120
4,530
5,1to 2'>,150 80,015
rch 3
875
5,785 must eventually advance or decline as controlled by legitimate
4,540
6,800
5,892
25,629 43,025
Mileage this year embraces

*

(and does

the
and the price

....

5
6
7
8.
9

2.559

....

....

....

Total..
Whole stock

—

....

1,900
3,725

57.000 112,902

10,000

7,950

13,750
10,601)

425

7,250

33,984 219,764 287,627 17,642
200,000 494,005 337,874 200.00J

Friday,

..

St. L.&K.C.pf
5"
Wab. P.C. Rhs
70*
Union Pacific.
63%
West. Un. Tel.
Adams Exp... *102%
59
American Ex.
United States. *49

Wells, Fargo..

.

'5%

71%

5
71

63%

61%

50

84

81

'33

*33)4 35

bid and asked

50

: no

21% 22%
U*

t

22% 22*
11

5*

50

50

34

....

were as

week, and the range in prices
follows:

Chicago Mil. & St. Paul
do
do

4,506

.

4,800 30*4
19,700 48*4
16,802 97*

pref..
Chicago Rock Island & Pacific.
do

do

Delaware & Hudson Canal....

Delaware Lack. & Western

-|

Vi

-‘I

,

33,984 45
112,902 60%
7
9
520
400 20
170 135

3,210

Erie

Hannibal & St. Joseph
do
do
pref
Harlem
Illinois Central
Lake Shore

.•'I

15*4

7%
1,320 16%
10,000 45%

Chicago & Northwestern

1,3J5
219,764
57,000
Michigan Central
N. Y. Central & Hudson River.. 50,110
Ohio & Mississippi
5,623
33,320
Pacific Mail
50
St.Louis I. M’ntain & South’n..
300
St. Louis Kan. City & North, pf..
1,119
Wabash Receipts
8,578
Union Pacific
287,627
Western Union Telegraph
388
Adams Express
American Express
United States Express
Wells, Fargo & Co

Highest.
Feb. 3 21% Feb.
Mch, 5 37% Jan.
Jan.
Feb. 26 21
Mch. 2 54% Jan.
Feb. 13 S7% Jan.
Feb. 17 58% Jan.
Feb. 17 102% Jan.
Feb. 13 74% Jan.
Feb. 23 77 Jan.
Feb. 27 10% Jan.
Feb. 21 15% Jan.

Lowest.

17,6421

pref..

97

6%
22%

11%

*5%

I

5%

71%
65*

as

49%

84

Feb. 24

Jan.

Feb.

Jan.

30
19 141

Jan.
Jan.
Jan.
Jan.
5% Feb. 19
7% Jan.
21% Mch. 7 26% Feb.
Jan.
10% Mch. 3 13

65%
47% Feb. 24 57%
40*4 Feb. 24 50%
91% Feb. 26 104%
50*4 Jan. 31

Jan. 30
Mch. 2

59% Jan. 15

Jan.

25

73
78
If 5

24

5

62% Feb
100% Jan.
56% Jan.

9

8% Feb.

Mch.
Jan.
Jan.

2 60% Feb.
43
Feb. 26 59% Jan.
82% Feb. 27 89 Jau.

Amsterdam

24%
39%
26%

49%
79

74%
80%

in the second column.

reported.-

1877.

Atch. Top. & S. Fe., .Month of Feb....
Bur. C. Rap. & North .Monthof Feb.. .
Cairo & St.Louis... .2d week of Feb.
Canada Southern.... 4th week of Feb.
Central Pacific....... ..Month of Feb...
Chicago & Alton.... .Month of Feb. ...
Chic. Mil. & St. Paul. .Month of Feb....
Chic. R. I. & Pacific, Month of Jan...

$134,003

v^ekof Feb.

6,494

.

Cm. Lafay. & Chic.. .3d




68,094
5,597

24,832
951,000
333,459
405,000
500,638

-v

1576.

Jan. 1 to latest date.

1877.

1876.

*144,132 $260,651 $261,549
101,691
142,058 193,625
30,723
4,369
29,59.)
242,934 264,902
30,799
1,017,203 2,076,000 2,011,542
346,850
671,493 652,447
517,112
780,460 1,044,658
500,638 489,638
489,638

9,238

41,812

95
98

been sluggish,
supply of bills

slightly.

prime

Mch.

3

7

62,939

Total

40%
94%
94%
94%
94%@ 94%

Alpha

the week

Payments.

Gold.

Currency.

$637,752 65
1,094,641 15
302,738 41

$319,466 44

654.605 23

367,763 24
381,182 16

1,169,349 75

864,146 64
370,947 36

300,823 82

165,110 28

Currency.

$697,716
1,066,202
199,300
468,264
567,530
796,018

Consol. Vir.. 47
Crown Point. 9
Eureka Cons. 15
Gould & Cur. 13
Hale & Norc. 6

13

Justice

Kentuck

7

Mexican

18

26

Ophir
Overman

37
78
08
37

51
15

$3,970,416 06 $3,765,122 26
875.011,19
43,557,104 45

Stocks.—The following prices, by telegraph,
W. Wakeman & Co., 36 Wall street, N. Y.:

Chol’rPotosi 66
Imperial .... 2
California has declared a dividend

....

Ray’d & Ely.

81

are fur¬

Savage
Sierra Nev...
Silver Hill...

8

7
6

! Union Consol 9
Yel. Jacket. 13

5

payable March 15, 1877.
Securities.—Messrs. Forster, Ludlow & Co., 7 Wall st., qnote: 90
Dallas 10s. .V 87%
l Qtnfn ir\m
Halloa Wa

Texas
to
State 7s,gld itinc
§106
7s,g.30 yrs §108
l)s, 1884.. §100
■

House and Sub*

-Sub-Treasury.-

$4,637,748 89 $2,830,111 07
71.231,582 96 44,432,115 64
71.898,916 06 43.657,304 45

9.,

20

the Custom

Receipts.-

$2,129,000

Belcher
8
Best & Belc. 34
Caledonia.... 8
California.... 50

at

follows:

Gold.
Receipts.
*307.000 $1,14 !,733 36
49 7,838 11
476,000
446,513 21
336,000
871,117 83
304,000
645,670 49
270,000
1,032,870 84
386,000

California Mining
nished by Messrs. Win.

@

40

:h.
Balance, Mch 2

Balance.

3 days.
4.85%@4 86
4.85 @4.85%
4 84 @4.84%
4.83*4@4.84
5.17%@5.15%
5.17%@6 15%
5.17%@5.15%
40%@ 40%
95 @ 95%
95 @ 95%
95 @ 95%
95 @ 95%

94%@
94% @
94%@

Custom
House

91%

earnings, and the

-Latest earnings

—

—

60 days.
4.83%@4.81%
4.83 @4.83%
4.62*4@4.83
4.82 @4.82%
5.19%@5.18%
5.19%@5.18%
5.19%@5.18%

(guilders)

Treasury have been as

114
67
76

totals from Jan. 1 to latest
dates, are given below. The statement includes the gross earn¬
ings of all railroads from which returns can be obtained. The
columns under the heading “ Jan. 1 to latest date” furnish the
gross earnings from Jan. 1, to, and including, the report mentioned
The latest railroad

commeicial

The transaction's for

33

100
55

—

exchange are as follows:

Bremen (reichmarks)
l Berlin (reichmarks).

117%

57%
63%

172

93 @
97 @

4 80 @ 4 85
65 @ — 70
— 99
@ —191

English silver

Prussian silv. thalers
Trade dollars

Hamburg (reichmarks)
Frankfort (reichmarks)

145

10

—

4.85£ for demand.
York at the undermen¬

Jocumentary

22%
33%

22%

—

r*ans (francs)
Antwerp (francs)
Swiss (francs).

23%

16%

Five francs
Mexican dollars....

95%

Prime bankers’ sterling bills on London....
Good bankers’ and prime commercial
•Good commercial

98% 111%
61%' 125
64% 120%

96
5

96%

—

Exchange.—The foreign exchange market has
usual of late, but in consequence of the small

Quotations for foreign

67%

48% 68%
34% 65%

—

94*4®

par@%prem.

cial 3-16, bank

49%j 84*
31% j 45%

60% 103%

94%@

—

Savannah, buying selling
premium, £ premium; St.
Louis, 100 premium; Chicago, par; Cincinnati, firmer, not quotably higher, buying par, selling 1-10; and New Orleans, commer¬

1876.
Low.'High
14% i 22
20% 109%
18*/,: 46%

18%
130%

—

Large silver, %s&%s

94
80
10
40
63

bankers’ 60 days’ sterling, and
In domestic exchange the rates on New
tioned cities to-day were as follows:
Charleston, scarce, nominally 1-16

year

7%
10%

Dime8& half dimes.

83

making, and the firmer tone in gold, prices have advanced
On actual transactions to-day rates were about 4.84J for

1C3
53%

55%

Doubloons.

Fine gold bars

Whole

Sales

Atlantic & Pacific Telegraph
Central of New Jersey

43*

since Jan. 1,

■pf w’k. v—.Jan, 1, 1877, to date.Shares

52%

Board.

Total sales this

1876,

3 87 @
X X Reichmarks.... 4 75 @
3 90 @
X Guilders
16 15 Q,
Spanish Doubloons 15 50 @
Mexican
120% @
Fine silver bars

53%

51

5%

foreign and

quotations in gold loi

@$4
3
4
4
16
15

$4 85

Sovereigns
Napoleons

140

72%
7U
63% 64*
64%
*102%
102% 103
53%
•59% 53%
49% 49* *48%
83 * 83* *83%

50
84

sale was made at the

140

»

....

American coin:

•22**

T2

72*
65%
102% 103
58
58%

*5S% 53%

58

6

$
104% 104% 105% 105% $174,258,000 $
105
104% 105% 104% 186,113,000 '1,239,631 '1,304,111
107% 104% 107% 105%

following are the

The

7*

*

43% 44%
93% 97%
6
6%

44%
96%

71%
64%

’.02%

53
50

59
50

*Thls Is the price

102*

102% 102*

’.02%

«r

12

24% 24%
5
5*
71
71%
63 J* 65%

5
72

65%

42%
95%
5%

41%. 41%
94% 95%
5*
6
22% 23*
*

41% 42%
93* 94%
5*
5%
21* 21%

Cnri-PT)!
Previous week.,
Jan. 1 to date...

33

52* 53
’.01% 101*
50
52%

.

...

“
“

Thursday,
Friday,

9
18%
46* 47
8*
18%

33

3
5....
6....
7,...
8....
9.... 105%

Mch.

Monday,
“
Tuesday,
“
Wednesday, “

March 9,
20
20%

'*”

41% 42*
93% 94%
5*
5%
24% 25%
10% 10%

*
Balances.
Total
.Quotations.
,
Gold.
Currency.
Low. High ClOB. Clearings.
Op’n
$2,210,532
104% 101% 101% 104% $38,140,000 $2,101,979
22,896,000 1,843,921 1,931,839
101%
104% 104% 105
105
40,675,000 1,802,296 1,902,267
104% 104% 105
26,105,000 1,903,990 1,998,124
105% 105% 105% 105%
28,040,000 1.136,840 1,247.325
105% 105%
105% 105
18,398,000 074,000 1,881,633
105
105% 105%
,

Saturday,

....

N.Y.Cen.&H.R
Ohio & Miss...
Pacific Mall
St. L. I. M.& S.

50,110

prices have been as follows:

...

Michigan Cent

per cent,
On’gold loans the carrying rates to-day were 1 and
rates 1 per cent and flat. Customs receipts of
the week were $2,129,000.
The following table will show the course of gold and gold
clearings and balances each day of the past week:
and the borrowing

8,089

is given iD

Monday, Tuesday, Wednes'y, Thursday,
Saturday.
March 3. March 5. March 6. March 7. March 8.
20% 21
20% i’0%
20* 20*
20
20% 20*
20%
At. & Pac. Tel.
9
8
8%
9%
8
8*
7%
8%
9*
8%
Central of N.J
18%
18% 18%
13
18% 18* •18
13%
17J* 18
C. Mil. & St. P.
47
47%
46* 47%
46% 47%
46% 49*
do
pref. 46% 4S*
33% 33%
33
33%
33% 33*
34
33* 31%
34*
Chic. & North.
54
53
53% 53%
53% 53%
33% 53%
51*
do
pref. 53
101 * 101%
101% 102 “
102% 100% 101 % 101% 101%
C. K. I. & Pac. 101
5!* 53
5!% 53%
49% 51
48% 49%
49% 50%
Del.& H. Canal
65% 66%
65% 66%
63% 66
63% 61%
& West
63% 61%
Del. L.
7* 7%
7%
7*
7*
8
7*
7%
7%
Erie
7%
12
12
*.1
*10% ....
*10%
Han. & St. Jos • 10* 11
22
22*' 22
22
20 * 20*
22%
do
pref.
140
140
139
139
-137
139
*.36% .... •136%
Harlem
53
53
ICO
52% 52%
52
52
52% 52%
Ill. Central....
50
50% 52
51%
49% 50%
43% 49*
Lake Shore...
48*

50*’

trade influences.

187,382 258,890 122,744 894,288

of shares of stock outstanding
the last line, for the purpose of comparison.

daily highest and lowest

10,440
12,586

600
850

The total number

The

7,850

33,900
21,727
13,880
25,735

1,770

3,000
2,025

5,429 21,900 49,165
7,136 88,900 30,302
6,840 67,6S0 44,30)
40,505 31,700

....

$ With interest.

inn
109
111
103

of $2 per share,

nanaJUlQl/
State 10s, pens§103%
6s of 1892... §91
Austin 10s....

95

10A
106

94

....

S. Ant’iolOs.

90

G.H.&S.6s,g.

83

,

'87

220

THE

CHRONICLE

New York City Baa ks.—The
following statemeni shows
the condition of the Associated Banks of New York Citv for the
week ending at the commencement of business on Mar. 3, 1877:

[March 103 it 77.

BOSTON, P ilLUHiLlMIlV, Etc.-Contluaed.
SBOUBITIBS.

Bid. Ask

SECURITIES.

aid. Ask

-AVERAGE AMOUNT OF-

Banks.
New York

Capital.

Manhattan Co
Merchants’
Mechanics’

3,000,000
2,000,006
1,500,000
3,000,000
1,000,000
1,000,000

Union
America
Phoenix

..

City

Tradesmen’s
Pnlton
Chemical
Merchants’ Exch...

8.078.000
6.9)6,000
4.377.90C
8.666.200
3,076,000
5.3.18.300
3,071,900
1.416.400
9 145.710
3,433.500
4,176.500
1.465,000
1.B49.800

1,000,000

600,000
300,000
1,000.000
Gallatin, National..
1,500,000
Butchcrs’&Drovers*
500,000
Mechanics & Traders
600,000
Greenwich
200.000
Leather Manuf
600,000
Seventh Ward....
300,000
State of N. York..
R(!0,C(W
.

American Exch’ge.
Commerce
Mercantile
Pacific
Republic

4.;

1,500,000
450,000
412,500
1.000,000

Hanover

1.000.000

Chatham

Metropolitan

2,UCC,C0C
600,000
l.OOU.OOO
1,000,000
1,000.00 f
1,000.000
1,000,000

Citizens
Nassau
Market
8t. Nicholas
Shoe and Leather.
Corn Exchange
Continental
Oriental
Marine

400,000

4,333.900

238.600
511,500

1,638.400
1.472.9J0
9.S53.Sl'0

6E4.0 0
519,5 'C
485,4 JO

245/00
173.600
469.000
293.200
363.300

2,987,4'J0
2,221.500
1,299/K)0
1.056.600
725.800
2.991.800
932,600
2,169.300

8,993,000

36.500
45.000
238.000

8.S05.100
S.2S8.700

2.552.700
896.700

3,’.85.700

45,00C

!

2,700.800
372.400
272,5(0
353,000

1.0:3,000

2.595,700

61.400

307.100

319.000

S96.9C0
441, "00
423.600

22.2(0
503.500
201,'■00

135.200
464.000
353.300
483.600
1,534.000
397,303
2:2.200
2'5.900
260,700

110,700
376.300
22.300

1,'89.(00
105.9IX)
43.101!
251.0.0
103.600
312.100
122 200
161.500
17.100
281.200
1.432.000
l.U 1.200

!,3C6.3_<;

l.trlS.UOO

166.0,0
Hl,7( 0

s:>2 VO

5.759.9 DC
6.750,9(0
1.179.5(0
1,636.701
1.1 5.7(0
1.217.(U 0
2,520,600
1,921,200

250,000
200,000

1,000,000
1,000.000

fif.9.71'0

1.375 200
207.400

•213.500
241,0.10
29S.OOO
308.100

4,600
....

250.9 JO
16.570

follows:
Loans...

Tnc.

Specie....

Dec.
Dec.

LegalTenders....

following
231,173.400
252,111.90 J

..

2 J. 136.100
251 fit.8 JO
256 S17.I00

...

40.9 4.9)0
40.18 7.0JO
S1.8J5.S00

1.345 UOO
250.000
( 3i) 0 0

180,000
41) 40c

153,800
lso.om

29.371.9)0

Boston
Date.
Jan. I
Jan. 8...,...,
Jan. 15
Jan. 22
dan. 29
Feb. 5....
Feb. 12
Feb. 19
...

..

...

23.4J8.9X)

4 :,227.S

Ranks.—Totals
Loans.
13! ,171.300
13 *,125,40 •

132,859,000
131,72:.<OJ
13:.4)2 5 Hi

13’,5 74.*-00
13.».) 98,COO
IS *,6 »i,500

Feb. 26.

12't,63-i,00l

Mar. 5

128.938,3110

10

were as

Loa^s.
..

..
..

..
..

..

..

..

..

..

$?,2!1.20U
2,8L!U

62,377.907
62.1S 7.025
62,084,608
62.0J5.2J
6',126,018
fi’,3"2,«i07
61.700.115
61,3V. ,117
6 1.948.7)2

60.211,615

Aggregat*4; 6,353,346
4 24.958.216
421.314 849
458 2S2.556

follows

Sn°c1e.
86.400

Te

iders.

6,955.400
f,80 i.5i 0

5,113. .0.)
5,^5,300

5.0.9,900

5.6 1,3)0

4 7 6 400

15.536.3 )0

418 975.250
S8S.7 49.247

15,53 ;,5«)0

454,375,1 13

:

Cir¬
culation.

56,t'44,8UU
5 i ,'137,2(10

Aegregate

22,5) 3. ltd
22.263.500

Deposits.
15,'4>00

41,476.209
45,740,445
50,932,300
48,487,833

Clearings.

22,62i.U0

54.548,200
54.350.8 10

22.435 900

22,312,000

5/.03.9O0

5.05),400

5.719,501
5,798,700
5.2(i9,'0U
4,784 7 0

4.SC9.70)
4,453,50J
4,416,701)
4,99*:,500

55,359,700
55,071,360

4,455,ICO

5,088,600

53,414,100

22,471.600
22,337,100
22.467.500
23,1 >8 66*0

5),914,7(0
53,368.900

were

as

44,980,404
46 751,977

54,489,494

22,555,700

follows

46,069,41 J

:

Legal
Tenrtei s.

Denosits.

dilution.

1L37J.8I2

L Jearmgs.

52 224,997

14,£.31,455

Snecie.

1,261.116
L’-so.-iOl
2.0 0,i:3
2.(6 ,3.1

10,203,910

51.832,734
51.497.2J3
51,684.2 i7
5 ',9:6,"50
50.717.717
49,')S4,V,3

10,1-2.868
10.2 3,456
10,167,551

32,241,291
45.737/154
S7.4l9.8t6

14,161, <108
1 1,179 82 <
13.lifiti,’. 0
13.56 Xii
13,711,090
13,121,0 6
11.284,78.4

2,072,315
‘2,i>7o,S!8
2,053,961
1.97r>,6t7
1,976.305
1.598.1:9

13.4)9,-09

Cl

did. Ask.

-Aggregate

-

4 .’.239.643

10.174,865
10,161,8)4

31,573,762
38,600,706
84.430,2s;

11.‘,'232^920

49.125,792

39.2b3i.5S3

10.239,220
10,367,-129

48,477.491
47,96177S6

Huomiim isi Bosro.i, pihlibelpiiia
SECURITIES.

Clearines.

446.185,433

15,531,700

30.467.f49

Maine 6 s

New Hami ishire,6e....
ape
Vermont 6s
Massachusetts 5s, Gold
Boston 68, Currency
do

Ss.gold
Chicago Sewerage 7s
do
Municipal 7s

Ill*

...

121

i!l% Chicago, Bur. & Quincy..
[03%
Cin..Sandusky * Clev.stoc*. 1
JX
Concord.
108
Connecticut River
135
Connecticut & Passumpslc, pf.
39 \ Eastern (Mass.)
4
63
Eastern (New Hampshire)..
;.6% Fitchburg
110% :n%
Manchester & Lawrence
.

.

•

•

#

*

•

•

•

•

*

.

•

*

35
7
29

109

Norwich* Worcester
Ogdens. A L. Champlain
do
do
pref.
Old Colony
Port., Saco * Portsmouth
Rutland common
'
do
preferred
Vermont * Canada

io*'
....

•

•

Vermont * Massachusetts
Worcester & Nashua

...

-

.

.

.

65%
14%

lo

63

66

101
•

..

5

5C

21X

50

50
50

50
103
103
llO

.

*‘3X

104%

1C4* 105
102
102

66,gold,1900, J.&J. 99*

do

101*
•

.

7
16

00%

Cen. Ohio 6?, 1st M.,1890,M.&S.
H'2%
.03
W. Md. 6s, 1st M.,(gr)*90,J.A J. 107
100
do
1st M., 1890. J. & J.. 100
do
2d M., (guar.) J.&J. 107
SIX S2*‘
do
2d M.. (pref.)
do 2d M.(gr.by W.«’o.)J.*J 102
107
do
63. 8(1 M , (guar.) J.& J.
105% 106 Y
Mar. * Cm. 7s, F. <fc A., 1892
fclX 82%
do
2d. M. * N...

Minehlll

Philadelphia* Reading
Philadelphia & Trenton

130* People's Gas

District Of Columbia.
Perm. Imp.,fis, g, J.&J, 1891.
do
78,1891
22 x
Market Stock bonds, 7s. 1392..

OAXAL STOCKS.

Lehigh
Morris
do

Division

Navigation
•'

WaterStock bonds 7s,1901....
“
“

isi"

pref

Schuylkill Navigation

78,1903...

Washington.

’fi*

pref.

do

bailboap bonds.

Allegheny Val 7 S-l0s, 1896
Belvldere

106*

7s E. Ext.,1910
Inc. 7s end.’94

97
50

Ten year Bonds, os, 1878
Fund.Loan (Cong ) 6 g, 1892..
Fund.Loan (Leg),6s.g, 1902..
Cern.of Stock (1328) 5s, at pleai
“

“

Delaware,lstm,5,’77

(1843)6s, at pleatChes. & O. st’k (’47) 6s, at pleas.

2d do7s,c. 188(>

General stock, 8s, 1881
do
6s, at pleasure.
io<%
Pounty stock, 6s,
do
103
Market stock, 6s,
do
110
Board of Public Works—
Cers. Gen. Imp.8s,1874...

Georgetown.

do
2d M. 6s,’85
do
3d M. 6s,’87
Camden * Amboy.«s, ’83...
jo
do
68,’89....
do
do mort. 6s,’89.
Cam. & Atlan. 1st m,7s,g. 1903

Co. 6s, ’97.
i960
Cayuga Lake 1st m. g.7s, 1901"

Connecting 6s 1900-1S04
Dan.. H. &'Wilks, 1st in.,7e/87*
D- laware mort. 6s, various....
East Penn. 1st mort.7s,’88...

E1.& W’mspoit, 1st m, 7s.’30.
do
do 5s,perp
Harrisburg 1st mort.6s,’83....
H.& B. T. 1st mort.7s,’90
do
2d mort. 7s, ’95...
do
3d m. eons.7s,’£5*
Ithaca* Athens g.7s.’90
Junction 1st mort. 6s, ’82
do
2d
do
1900....
Lehigh Valley, 6s, cou., 1898.
do
do
4o reg.1898..
do
do
do
7s, 1910
do
do
con. m. 6s 1^23
Little Schuylkii List M.,7.1877.
Northern Pacific 7 3-10s. 1900*.
North Penn. 1st m, 6s, ’85
do
2d m. 7s, ’96
do
chattel M. 10s 1877

■-

90

1U4*
101
102
101

105

102

108% 103

35“

105
50

l6V

09
96
100

106* *

CINCINNATI.
Cincinnati
do
do
do

lt'5
107

6s

100
110
115

7s
7-308

South’n RR. 7.80s t
Ham.C0.,Ohio6p.c.!0ng bds
do
7 p.c.,lto5yrs
do
do
do
lg bds,7 & 7.30*
CIn. & Cov.Brldge stock, pref
Cin., Ham. & D., 1st M., 7, 80...
do
do
2d M., 7,'85...
do
3d M., 8,77...
do
Cin.. Ham.* Ind.7s guar
Cin. & Indiana, 1st M.,7
do

103

mx 112

Pennsylvania, 1st M.,6,1880...
<10
gen. m.Ca 1910, coup
do
gen. m.,6s reg., )910
do
cons. m. 6a, reg., 1905

1875...
1876...
1877
1878...
Series.

do
do
do
do
do

Certificates,Sewer, 8s, 1874-77.
Water Certificates. 8s, 1377.

i6i%

do
gen. M. 7s, coup., 1903
Oil Creek 1st m. 7s,’82
Penn* N. Y.C.&R K7s.’96-1906.

2d M.. 7,1877..

do

Colum., & Xenia, 1st M.,7, ’90.
Dayton & Mich., 1st M.,7 81..
do
do
do
do
Dayton & West.,
Jo
do
do
do

2d M.,7,’84..
3d M.,7,’88..
1st M., i881...
1st M., 1905..
1st M., 6, 1905.

do
Little

Little Miami stock

LOUISVILLE.
Louisville 7s—
103
Louisville 6s,’82to’87.
t97*
do
6s,’97 to’98
t97*
Watei 6s, *87 to ’89.. +37*
do
Water Stock 6s, *97. +97*
do
Wharf 6s
do
+97*
do
special tax 6s of *89. +9 *
leff., Mad & I,lstM.(I*M)7, *81 96
do 2d M.,7,.
do
72
do
do 1st
97
^oulsv.C.* Lex., 1st M.,7, *97.. 97
oula. & Fr’k., 1st M.f6,’70-*78..
do
Lonlsv. Loan,6.*81
« Nash. 1st M. (m.s.) 7,*77..
do Lou-Loan (m.s.lfi, *8fi-'87,+98
■.

United N.J.c ns.rn.6s, 94..
Warren & F. 1st m. <6,’96 . ...
H2
Westchester cons.7s.’91.
1 3X
West Jersey 1st m. fie, ’96
do
do 79, 1397.... |19>»
Western Penn. RR.6s. 1593....
do
do
fis P b ’96 ......
Wilm.* Road.,1stM.,7.1900*.
do
do 2d Mort. 1902*

M.,$,1906....

do

(Leb.Br.)6,*86 !t93

do

+93
+33

CANAL BONDS

Uv

8

107%

99

100%
9i)

conv , *82
conv.. g,’94.

gold. ’97
Morris, boat loan, re?., 1885..
Pennsylvania, 1910.......
Schuylkill Nav. 1st m.fis,'97..
do
2d m.f fis, 1907
do
m. 6s. ’95
do
6s,Imp.,*30...
do fis,boat &car,191>
do 7s, boat * car.1915
do
scrip..:.
Susquehanna 6s, coup., 1918...
•

....

In default 0/ interest.

vjvJIIovjI

•

lot In

*f

i« 1090.

Jefferson., Mad. * Ind
100X UU% uonlsv.,Cln.& Lex.,pref.

RR. ’9?....
deb. *77....

■

:t»o

....

Sunbary* Erie 1st m.7s,’77..

do
do
do
do
do

99
1/-5
108
110
105

(I. &C.) 1st M.,7,188?
Miami, 6,1883
108* Cin. Ham. & Dayton stock...
95* Columbus & Xenia stock
Dayton & Michigan stock....
do
• 8 p. c. st’k guar

93%

Philadelphia & Keadlng6s, '80
do
do
7s, ’93
do
deb.bonds,’93
do
g. ra.7s, c. 1911
do reg, 1911
do

’78
Lehigh Navigation 6s.’34

105%

107% lnd.,Cln. & Laf.,lst M.,7

Perklomen 1st m.6s,’97
Phila. & Erie 1st m.6s,’81....
2d m. 7s.’88....
do

Delaware Division 6s,

100

100

do

do

19%

19X

WASHINGTON,

West Jersey

Delaware

55

MISCELLANEOUS.

90

...

129
..

109%

Par.
100 135*
Wash. Branch.. 160 120

Balt.* Ohio 6s, 1880, J. & J....
do
6s. 1885. A. & O..
N.W.Va.,3d M.(guar)’o5, J.&J.
Pittsb. & Conceflsv. 7s,*98, do
Northern Central 6s.l885, do
do
6s, 1900, A.&0.

Nesquehoning Valley

.

106
Eilgland
Hampshire..

,

••

•

Nashua & Lowell
New York & New
Northern ot New

111

109%

..

....

-




*

do

Huntingdon & Broad Top ..
do
do
pref.

...

Verm’t Cen., 1st M., cons.,7, ’86
do
2c Mort., 7,1891
Vermont A Can., new, Ss
Vermont* Mass.. 1st V. «.**w.

108%

no

do
Parkersburg Br.
Northern Central
Western Maryland
Central Ohio
Pittsburgh * Connellsvlile.

...

fii
Q<2

130

Burlington & Mo. ln Nebraska

-

OfdCol.* NewportBds,7, *77.
Rutland, new 7s

6s, 1S93, M. & S

6s,exempt,’93,M.&S no% 112%

RAILROAD STOCK 1.

Pitts., Ctn. * St. LouiB7s, 1980.
Shamokin V. & Pottsv. 7s,1901.
Steubenville* Indiana7s.’84
Stony C eetc, 1st m., 7a, 1907...

Chesnire preferred.

107 %
Portland 6s....
Atch. * Topeka let m. 7b .. .. S9*
do
land gt. 7s
82
do
2d 7s
55 %
do
land Inc. 12s.. 135%
Boston & All»any 7s
114
Boston & Maine 7s
111
Burlington * Mo. Neb. 8s, 1894 1(3 ‘
do
do Neb. 8s, 1883.
95
Eastern, Mass.. 7s, rid
Hartford * Erie 7e, new
11* 12
Ognen*burg * Lake Oh. 8s

no*

110

Balt. & Ohio—Stock

Lehigh Valley
Little Schuylkill

cities

toy-

113
110
100
110

103% no*

68,1900, J. * J....
fis, 1902, do
Norfolk Water,8s

104
idS

do
new conv. 7s, 1893
do Coal & I,Co m.,78.’92-’8

Bid. Ask

* Albany stock
* Lowell stock
& Maine
& Providence

do
do
do
do

8SX

Phila., Wilm. & Balt. 6s, 18:4..

and other

SECURITIES.

dOBton
Boston
Boston
3oston

do
prel
do
New pref
Delaware & Bound Brook
East Pennsylvania
Elmira <s Williamsport
do
pref..

37,89c,135

10,2a6.30l

8TOCE8•

BOSTON.

....

RAILROAD BOND*.

Cam & Burlington
Catawissa, new 7s,

Circu¬
lation.

Legal

Philadelphia Banks,—Totals
Date.
Jan. 1.
Jan. 8
Jan. 15
Jan. 22
Jan. 29
Feb. 5......
Feb. 12
Feb. 19
Feb 26
Mar. 5

are as

15,317.3)0
15.4H,9)0
15,495.9 ) i

232.653,800
229 3! 1.2.H)
227.1DO.OJO

Camden & Atlantic
do
do,
pref
Catawissa

do
do

uei.

15 563.500
15 635 4 M

-

RAILROAD STOCKS. "

450 0
‘224 tOO

.Dec.

227.312. SOU
230.625.6 0
231.011 70J
242 03). 1 Hi

11.128.3)0
42.251.2 U

do

r

Allegheny County 5s, coupon.
Pittsburg 4s, 1913
do
87
5b, 1913
do
6b. gold, various
do
78,Watei Ln. various )66‘
do
76, Street imp.,’83-86 100
New Jersey 6e, Exempts, var.
Camden County 6s, various....
Camden City 6i
—
do
do
7s,
...
do
Delaware 6s,
....
do
1 o
Harrisburg City 6s,
do
....

1.053 100

previous week

223.>68,3 10

Philadelphia

1.263,200

Deposits.

41.3 5 10J
43 *.’6 7 HI
4 5.>Gl.2l)0
41.7133)0

35.616 6 )U
3 J.065.400

251,051,4 0
258.751.70J
259,'00.4 10

Tenders.
37.04 3.900

6f, 10-15 1877-82. 101% 102
5s, quarterly
do
15-25. ’62-92 111% 112
Baltimore 6s, 1884,quarterly..
do
106%
6s, old, regist’d. 106
6s, 1566, J. * J
112
do
6s, new
do
113*
6s, 1890, quarterly...

cur. var..

Baltimore Gas,certificates....

€2,900

841.100

Legal

Snecie.

6s,Park, 1590, Q —M.

do

Fhila.,

1,4S5.5"0

S'ViSUOO

do

do

Wilming.* Baltimore.
United N. J. Companies.
Westchester consol, pref

60.(00
305 5.:o

i,071.000

Net Deposits.
Circulation

$313,700
87-,f0J

6s, exempt, 1887....
68, 1890, quarterly..

50
do
8s, 3d, J. & J....
Union PR., 1st guar.. J A J.. 10'
do
Canton endorsed.. 10)*

are the totals for a series of weeks past:

Loans.

Jan. 13...
Jan. 20
Jan. 27...
Feb 8
Feb. 10...
Feb. 17...
Feb. 24...
Mar. 3....

of the

1C9
1094'
103
93
109

do
do
do

Pennsylvania....
Philadelphia & Erie

174.185,200 $'259.1GO,4UO:$23.438 9.C 113 227.300 fJ27.10U.000 I15.5S3 50t
returns

1C1%

do
do

-

Norristown
North Pennsylvania

464,200

2.357.5 JO

-71.430

var 101

227.400

663.700
693.800
701.U'O
6i".400
£06.1-0
’.3.406 5JO
6.427.000
2.0 0.(00
5 520 70C
6,4(0. COO
8.224,8(0
987.700
1.160.9'H>

1.151 0,0

Ponnsylvania5s, gold, Int.

BALTIMORE.

Maryland 6s, defence, J. & J..

59S.2JC

1.037.4(10
1.895.300
18.693.800
14.64 ‘.10C

3'3 ('00

29.200

4.800

2.363.200

1.054.000

1,374.9 .0
1,* 65,110
57,800

5.130.8 0

3,900
213,4 OU
501.3 m
550.807'

1.242,9(0

2,1(5 9,0

458.700

lH.'OO
IS4 4(0

3.209.6 jo
1,6*2,7(J0

151.50C
81.300
137 530

15.516.100
7 aCT.OOO

291.500
83.900

1.945.700

164.200

100.000

273,010
5,400

1.660.3' 0
2.075.300

2 4.10C

16 6 9)

450.00C

10.520.0,9

3.064.2'Jli

71.70,7
2.300

2.700

263.2X)

2.96S.10C
1.933.000

332,' 00
rtlLOjU
254.8(H)
‘276.0,'C
3.951.900

3.300

I6.1XX)

192.2 »

1,0-3 700
2,737.400

491,000

21.9 0

i .166
270,000

2.073.300
2.4.0.3CO
2.837.900

634.700

15,900

748.300
911 300
779.3jC

The deviations from the

....

,003.000

3,750 000

Bowery National....

Total

3.581.8:0
8.1X8.108
3,353.000

1.35'3,000

I.K2.3X

2,000,000
300,001
1,500, t CC
50C,( CO
1,000,00(
300,000
590,000

183,100

537,01)0

1 550.901)

2.037,300

1.761.2(0

350,000

Dry Goods

161 ojg

7.5X7

94.000
473.700

16.768 8(0
11.489.500

500,000
300,000
400,000

New York Co.Nat..
German American.

5 223.(K0

403,3*10

1,228.600

1,500,000
2,000,000

...

577.600
672.610

56,000
23,600

2.253.000
2.711.609
2.3! 5,500
4.(77.000
2.945.800
3. 67.000

300.000

Park
Mech. Bank’gAsso.
Grocers’
North River
East River
Manufact’rs’* Mer.
Fourth National....
Central National...
Second National....
Ninth National.
Fi rst National.;....
Third National
N.Y.National Exch.
Tenth National....

STATE AND OITY BONDS.

337.400

11.699.0U0
1.SX.0JC

1.500,000

Importers’* Trad’rs

PHILADELPHIA.

f27,l'(C

1,078,200
489,200

3.581.400
1,993.000

500.000

Irving

tion.

$9.510.500
6,115.900
6.1=6.700

Tenders.

809.600

422.700

People’s
North America

Deposits.

$1.355,2.0
1.966,800
663.001)

739,:03
567.500
2,038,11 0
459,000
1 6S4.7oC
150,700
202,100

3.186.100
S.6,800
2.057.600
I2.8l4.000
18,915.100
4,797.400
3.270.900
2.194,(00
3.0 0.7(0
2,762,300
1,258.800
2.235.290

5,000,000
10,000,000
1,000,000
1,000,000

Broadway

The

Specie.
12.185 2( 0
626.3(0
1.(56,900

Discounts.
$9 624,0 0
2,050.000
6.5-6 10U

13,000,060

81

CO

• •

tsx
os*

92

92*

27*

28**

<

....

do
do
common
.oulBvllle & Nashville

ST. LOIJI8.
Louis 6s, Long Bonds
1
Jo
Water 6s gold
1
do
do
do(new)1
do Bridge Approach g.6( +
do Renewal gold 6s
+
do Sewer g. 63 (dHe*91-2-3)+
3t Louts Co. new Park g. 6s..+
do
c’v, 7s
.+
St.L.&San F. RR Bds.setie? A
do
do
co
B
do
do C
do
At

t And interest.

K2%
10 iX 105*

H«X
104%
105
105

mix
104%
50
22
.

•

06

105*
»

•

•••

•

•

.

_.M

23

THE CHRONICLE

March 10, 1877.]
GENERAL
Bid. Aik.

SBCTJBITIBS.

State

do
88, 1888
*
do
8b, M. & E. RR.
do
8e, Ala. & Ch. R
do
8s Of 1892
do
8s of 1893.... ..
Arkansas 6s, funded
do 7s, L.
& Ft. S. lss
do Ts, Memphis & L.R.
do 78, L. K. P. B. & N.O
do 7s, Miss. O. & R. R
do 7s, Ark. Cent. RR..

do

35
so
so
36

do
do

37*
37*

rL

Connecticut 6s
Georgia 6s

7s, new bonds...
do
78, endorsed. ..
do
7s, gold bonds..
Illinois 62, coupon, 1879..
do
War loan..
Kentucky 6s
Louisiana 6s
do
6s, new
do
6s, floating debt
do
7s, Penitentiary
do
6s, levee.,
do
8s, do
do
8s, do 1875
do
8s, of 1910
do
7s, consolidated
do
7s, small
do

Michigan 6s, 1878-79
do
6s, 1883
do
7s, 1800
Missouri 68, due 1877..
do
do
1878
Funding, due 1894-5.

..

108*
103*
io:"
101*

39%
39
39
39
39
39
39

.

„

..

off, J. & J..
off, A. & O.
Funding act, 1866
.do
1868
New bonds, J. & J
do coup,
do
do

03*

(52
101
104
115
101

.......

1st con. guar.

7s of 1888...
Non-fundable bonds

10*
3*

45

45
85

3*
42*
42*

6s, new series..

42*
30

6s, deferred bonds..
District of Columbia 3.65s.
small.,

72*

71

94*

Chic. Bur. & Quincy
Cleve. Col. Cln. & I.
Cleve. & Pittsburg, guar..

Dubuque & Sioux City.
Erie pref
Indlanap. Cln. & Laf
Joliet & Chicago..
Long Island

California Pac. RR., 7s, gold

107%
107*

104
80
108

i08%

.

ttf

....

do
~

*

*

~

'

~

08

i04*
50

103
L02
1(2
115

103*
26*
89*

103
104
28

90*
'

.

17%

.......

*80

87

*1*
153
13

100*
98

51*

25

g.
g.

2C0

.......

Railroad Bonds.
(Stock Exchange Fi'icts)
do
Hn

103
9J

108
94

lpt. eons. guar.

Boston H. & Erie, 1st m..
do

guar.

...

Bur. C.P»&Minn.,Ist7s,g




111
111
111
25
102
85
102

io
15
7
43

7s.

do
2d 7s. 20 years..
Connecticut Valley 1s
' 74
Connecticut Western ist 7s.... 20
Chic & Mich. L. Sh. 1st ir's, ’89. +00
Dan. Urb. Bl. & P. 1st m. 7s, g. 38*
Des Moines & Ft. Dodge 1st 7s.
Det. Hillsdale & In, RR. 8s
Detroit & Bay City 8s, guar.. *+ 05
Det. Lans. & Lake M. 1st m. ds 25

13
70

•

•

•

STATES.
Alabama

25
25
13
48

30
45
00
Texas 6s, 1892
92
M.<fcS.
do
7s, gold, 1904-1910. J.&J. 109
do 78,gold, 1892
J.&J. 108*
do IDs, 1884
J.&J. 100
do 10s, pension, 1894.. J.&J 10J

100

.83*

:!

•

•

39*

40*

•

..

•

•

....

•

.

new

consols, Class A

90
77
30
70

42*
70

18

.

.

37
.58
ea
00

do
do
Class B
South Carolina new consol. 6s.

no

109*
103

OITIES.

do
do

78

88
waterworks..

Augusta, Ga., Ts, bonds....

?iS*
80

Charleston stock 6s
Charleston. S. C., 7s, F. L. bds.

55
72

Columbia, S. C., 6s
Columbus, Ga., 7s, bonds
Lynchburg 6s

do

new

...

consols

Montgomery 8s

Nashville 6s, old
do
6s, new
New Orleans prem. 5s
do
do
do

railroad, 6s..
Irnp’ts, 7-CO
...

do
stock
do
do
guar...
Carolina Central 1st m. 6s, g...
Central Georgia consol, m. 7s.
do
stock
Charlotte Col. A A. 1st M. 7s..
do
do
stock
Chcraw & Darlington 8s
East Tenn. & Georgia 6s
East Tenn. & Va. 63 end. Tenn
E. Tenn. Va. & Ga. 1st m. 7s...
do
do
stock......

Georgia RR. 7s

;

stock

Greenville & Col. Ts, guar

...

do
Ts. not guar
Macon A Brunswick end. >s..
Macon A Augusta bouds
do
endorsed....
do
stock
•

Memphis* Charleston
do
do

55

40

80
47

85
60

33
42
85

92
90
tOO

99
03
«

..

Wilm’ton, N.C., 6s, gold j coup
do
8s,gold] on.
RAILROADS.
Ala. A Chatt. 1st m. 8s, end

do

80
25

87%

Petersburg 6s
Richmond 6s
Savrnnah Ts, old
do
7b new.

95
83
32

8*

consol. (Is

wharf

Norfolk 6s

07
67
80
90

03
00
89
4

0

10

20

30
97
33
73

00
05
10
80
35
100
35
77

'85

99

75
75
89

99

I*

.8

85

92*
50

73
37
35
95

105
73
40
40
99

80

00

••••

ist7s.. 84
2d 7s...

80
02
8
29
04
64

57

stock..

4

Memphis & Little Rock 1st m.
Mississippi Central 1st m 7s

23
81

...

do

2d m.Sa

85
00
75

73

70
92
82
27
20
30
25
22
43
20
70
70

Memphis bonds C
do
bonds A & B
do
end.,M. & C. RR
Mobile5s (coups.on)
do
8s (coups, on)

uui/

55

Macon bonds

•

....

102

Southern Securities.
(Brokers' Quotations.)

Ala.& Tenn. Riv. 1st mort 7s..
7s.
do
2d mort. 7s...
Chic. Danv. & Vincen’s 7s, gld
Col. & Hock V. 1st 7s, 80 years, +100 101* Atlantic & Gulf, consol
95
do
end. Savan’h.
do
1st 7s, 10 years,
100

...

..

Maryland Coal
Pennsylvania Coal
Spring Mountain Coal....

do
do

100*

Chesapeake & 0.2d m., gold 7s
Chicago Clinton & Dub. 8s

.

*

2d
3d

+84

do
2d m. 8s.
Dutchess & Columbia 7s
Denver Pacific 7s, gold
Denver & Rio Grande 7s, gold.

•

Consolidate Coal of Md..
Mariposa L. & M. Co
do
do
pref.
Cumberland Coal & Iron.

r

ioo*

..

....

do

no*

Illinois Grand Trunk....
cig
Chic. Dub. & Minn. 8s
M a
Peoria & Hannibal R.
Chicago & Iowa R. 8sSs.
American Central 8s.... J
Chic. & S’thwestern 7s, guar

.

ntiscel’ous Stocks.

Albany & Susq. 1st bonds

110
110
no
no
24

40
42 ‘
114*
!Evansville & Crawfordsv., 7s.. 99 102
112*
100
Erie & Pittsburgh 1st 7s
Harlem, 1st mort. 7s,coup... 118
80
do
90
2d 7s
do
do
7s. reg.... 118
do
80
7s, equip.
98
North Missouri, 1st mort
99* Evansville Hen. & Nashv. 7s.
45
Ohio & Miss., consol, sink. fd. 87
83*
•75
80
do
88*
*80
consolidated....
84
uo
2d do
49* 50*
*50
55
do
1st Spring, dlv..
98
103
Pacific Railroads—
d©
89
istTs, 1. g., notgu. 80
Central Pacific gold bonds.,
do
1st ex I. g. 18.
57* 62*
do San Joaquin branch 91* 91
Grand River Valley 8s, 1st m.. +.... 100
do Cal. & Oregon 1st
So* 89
Hous. & Texas C. 1st 7s, gold..
80
do State Aid bonds.
,107
do
consol, bds..
70
do Land Grant bonds..
Indlanap. & Vincen. 1st 7s, gr.. 77
Western Pacific bonds.
ioo*
Iowa Falls & Sioux C. 1st 7s... +87
92
Union Pacific, 1st mort. b’ds
Indianapolis & St. Louis 7s.... 04
08*
do
Land grants, 7sJ 193*! 1C3* Houston & Gt. North. 1st
75
7s, g.
93
do
Sinking fund...1 UJ 1| 93* International (Texas) istg
77
'
80
Atlantic & Pacific land gr. m
Int. H. & G. N. conv. 8s
33
37
South Pac. RR. bds. of Mo 08
* Jackson Lans. & Sag. 8s, 1st m t90
92*
Pacific R. of Mo.. 1st mort... 97% 97* Kansas Pac. is, g.,ext.
40
M&N,’99
do
2d mort
87* 89
do 7s, g., I’d gr.,J&J,’80 55
00
do
income, 7s.
do 7s, g.,
30
do M&S,’86
do
85
IstCaron’t B
do 6s, gold, J.&D., 1896
45
50
Penn. RR—
do 6s, do F.& A., 1895. 55
01
Pitts. Ft. W. & Chic.. lstm.. 120
121*
do 7s, Leaven, hr., ’96.. SO
35
do
do
2dm.. 112
do Incomes, No. U
105
do
do
3d m..
do
do
2
No. 16
Cleve. A Pitts., consol., s.f
no*
do
Stock
n*
2*
107
do
4lh mort
Kalamazoo & South H. 8s, gr.. +75
85
Col. Chic. & Ind. C., lstmort 32*
Kal. Alleghan. & G. R. 8s, gr..
94
97
do
do
2d mort
Kansas City & Cameron its..*
102
TO
Rome Watert’n & Og., con. 1st
Kan. C. St. Jo. and C.B. 8s of ’85
99
St. L. & Iron Mountain, 1st m. 98
do
do
30
3*of’9S
do
do
2dm..
Keokuk & Des Moines 1st 7s.
80
85
St. L. Alton & T. H.—
do
funded int. 3s
92
Alton & T. H., 1st mort
106*
do
30
pref. stock... 25
do
2d mort.,pref..
90
L. Ont. Shore RR. 1st m. g. 7s.
2d mort. iuc’me
do
75
Lake Sup. A Miss, ist 7s, gold.
is
35
Belleville & S. Ill.R. 1st m. 8s 8S
92* Leav. Law. & Gal. 1st m., lOs.. 25
Tol. Peoria* Warsaw, E. D... 89* 90* Logans. Craw. & S. W\
4
*8
8s, gld.
do
do
W. D..
03
65
Michigan Air Line 8s
do
do Bur. Div.
Monticello A P. Jervis Ts, gld. I
do
do 2d mort..
Montclair & G. L.Ist 7s
75" '80
do
do consol. 7s
do 2d m. 78 (old Mont, lsts)
8*
Tol. & Wabash, 1st m. extend.. 103* 104* Mo. K. «fe Tex. l.gr. 7s assented 52
54%
do
ex coupon
8SM, 89*
do
2d in. income...
do
istm.bt.L. dlv. 77" 78
Mo. R. Ft. S.& Gulf 1st m. 10s.
72
do
2d mort
70
71
*
60
13
equip’t bonds,
Price nominal.
do
con. convert...
50
+ And accrued intiwt.
.

.

Am. District Telegraph...
Canton Co., Baltimore....
Cent. N. J. Land & Im. Co.
Delaware & Hudson Can’]
American Coal

110

...

...

,

110
lia
104
no
lit
101

70
52
58

110*

«at

59

Atlanta, Ga., 7s

93*

~

.

Morris & Essex
80
Missouri Kansas & Texas.
New Jersey Southern
i
N. Y. New Haven & Hart. 152
Ohio & Ml8sis8;ppl, pref
11
Pitts. Ft. W. & Ch., guar.. 100

do
do
special.
Rensselaer & Saratoga
Rome & Watertown
St. Louis Alton & T. H
do
do
pref.
Terre Haute & Ind’polls
Toledo Peoria & Warsaw.
Warren

100

99
75
87

50
25

..

98

48

§sit

20

100

Walkill Valley 1st 7s, gold
West Wisconsin 7s, gold.
Wisconsin Cent., ist, 7s
Mercaut. Trust real est. mort.7*

97*H

'so

with lnt. certifs

f95
100
70
45
18

55
03

ill

94
Central Pacific, 7s, gold, conv
32
Central of Iowa lstm. 7s, gold
35
>»
Keokuk & St. Paul 8s
100* 102
1
100* 102
Carthage-& Bur. 8a
Dixon Peoria & Han. 8s.
101* 103

87* Chic. & Can. South 1st m.
100* Ch. D. & V.f I. dlv., 1st m.
109

i07*

77

'

*..

do
68, 1887
do
6s, real estate.,
do
6s, subscription,
do & Hudson, 1st m., coup
do
do
1st m., reg..
Hudson R. 7s, 2d m., s.f., 1885

54

..

..

108*
107*

106*

22

6s, 2am. g.
Canada Southern, 1st m

...

104* 107
108

108

d»

Valley 8s
Quincy & Warsaw 8s
....

108
108

**

St. Louis Vandalla & T. H. 1st. •95
do
2d, guar •05
St.L. & So’eastern 1st 7s, gold. 34
St. L. A I. Mt. (Ark. Br.) Ts, g.
South. Cent, of N. Y. 7s, guar. ioo
Union & Logansport Ts
Union Pacific, So. branch, 6s,g 54

108
107
10

Atchison & P. Peak, 6*, gold..
Atlantic & Pacific L. G. «s, gld
25
Atchison & Nebraska, 3 p. c...
25
Bur. & Mo. Ely., land m.77s...+ 109* 110
108

10

Sandusky Mans. & Newark 7s. “93

112
100

29
10

do
3d S., do 8s...-jdo
4th S., do 8*... f
do
5thS.,do8s...+
do
6th S.,do 8s...+
Bur. C. R. & M. (Mil.) g. 7s....
Cairo & Fulton, 1st 7s, gold...

0
10

Sioux City & Pacific 6s
+54
Southern Minn, construe. 8s... 59
do
90
7s, 1st
St. Jo. A C. Bl. 1st mort. 10s... *70
do
do
8 p. c.

.

70

Central Pacific

Chicago & Alton
do
pref

*

ios*

103%

72* N. Y. Central 6s, 1883

registered

Railroad Stocks.
(Active precVusly quot'd.)
Albany & Susquehanna...

...

109
106

Mich. Cent., consol. 7&, 1902...« 104
do
1st in. 8s, .882, s. f. 112
do
equipment bonds. 20
New Jersey Southern 1st m. 7s
do
do
consol. 7s

...

do
do

Cons, reg.,2d.

102

+ 109

O. O. & Fox R.

Marietta & Cin. 1st mort

30
79
67 %

..

do

I

o(J

Water 7s

RAILROADS.

ICO

Indlanap. Bl. & W., 1st mort...

+
+ ioo
+ 111

Rochester C. Water bds., 1303+ 109*
100
Toledo7.30s.
Yonkers Water, due 19?3
107

....

114

f 105

Oswego.
Poughkeepsie Water

•

ios

do
do
2d mort..
Lake Shore—
Mich. So. 7 d. c. 2d mort
Mich S. & N. Ind.. S.F., 7 p.c.
Cleve. & Tol. sinking fund.
do
newbond8....
Cleve. P’ville & ABh.,oldbds
do
do
new bds.
Buffalo & Erie, new bonds...
Buffalo & State Line 7s
Kalamazoo & W. Pigeon, 1st
Det. Mon. & Tol.,l8t 7s, 1906.
Lake Shore Dlv. bonds
Cons. coup.. 1st.
do
do
Cons, reg., 1st.
do
Cons, coup.,2d..

36

42

6s, ex matured coup.
6e, consol., 2d series

•

•

....

*

3
3
106
114

2%

Virginia—
68, old
6e, new bonds, IS66
6s,
do
1367..
6s, consol, bonds

do

.

io*

36

...

Tennessee 6s, old
do
6s, new
do

15*

36
36

April & Oct
i...
Funding act, 1866
LandC., 1839, J. & J
Land C., 1889, A. & O....

....

•

95
105

Long Island City
Newark City 7s

....

114
110

-

♦

95*

Indianapolis 7.30s

82
70

i0L%

ioo
..

„ 4

•

109

...

....

r

100*

Detroit Water Works 7s..
Elizabeth City, 18S0-95
do
1885-93....
Hartford 6s

do
do
endorsed
do
2d mort., 7s, 1879
3d
do
do
102%
7s, 1883
do
4th do
104* 104%
7s, 18^0
do
5th do
101& LOB
7s, 1888
do
78, cons., mort., gold bds
1C5M 107
do Long Dock bonds
90
Buff. N. Y. & E, 1st.m., 1877...
do
do
large bds. .
Han. & St. Jo., land grants ;.
‘80
do
8s, conv. mort. ’79
Illinois Central—
Dubuque & Sioux City.lst m.
do
do
2d div. *-• *
Cedar F. & Minn., lstmort..
82%

20
20

2
2

Ohio 6s, 1881
do 6b,’.886
Rhode Island 6s
South Carolina—

-

Cleveland?-, long

*

8*;

Class 3

•

do
do
do

91

102
110
99
107
107
107
107

t
+
+
7s, water
+
7s, river improvein’t +
7s, various
+

12

85

...

OITIES.

Albany, N. Y., 6s
109* Buffalo Water, long
Chicago 63, long dates
do
78, sewerage...
104*

bonds, 1900....
construction,
7s, of 1871...

Erie, 1st mort., extended

10
10

Class 2

•

-

do
do
do

16
65
(55
45
45

Special tax, Class l

coupon
& Mis-., 1st m

Miscellaneous List.
(Brokers' Quotations.)

..

-

121
121
121

A. & O

82

ex

Lafayette Bl’11

..

do

—

do

75

..

do
lstm., I.& M.D.
do
lst m., I. & D
do
1st m., H. & D.
1st in., C. & M..
do
1st in., consol..
do
do
2d m.
do
Chic. & N. Western sink. fund.
do
do
Int. bonds.
do
do
consol, bds
do
do
ext’n bds..'
1st mort.
do
do
do
do
cp.gid.bds.
do
do
reg. do
Iowa Midland, 1st mort. 8s...
Galena A Chicago Extended
Peninsula 1st mort., conv.., 102*
Chic. & Milwaukee, 1st inort 104
Winona & St. Peters, 1st m...
do
2d mort.
C. C. C. & Ind’s 1st m. 7s, S. F..
do
consol, m. bonds
Del. Lack. A Western, 2d m
do
do
7s, ConY. a03 *
Morris & Essex, 1st. m
115*
•do
2d mort...... 105

'

6s.... c.
Jan. & July

109

do
do
do
do
do
do

102

120

do
1893
€b, do
fforth Carotin a—
«s, old. J. <te J
do
A. & O
N. C. RR
J.&J....
do
..A.& O....

8

114*

Mo. R. Ft. 8. A Gulf 2d m. 10®.
8
N. Haven Mlddlet’n A W. 7s...
0
N. J. Midland 1st 7b, gold
20
do
2d 7s
1
New Jersey* N. Y. Ts, gold...
3
N. Y. A Osw. Mid. 1st 7s, gold.
0
do
2d 7s, conv.
1
North. Pac. 1st m. gld. 7 3-10 ..
12
Omaha * Southwestern RR. 8ai
Oswego A Rome 7s, guar .... 98
Peoria Pekin * J. 1st mort
'60
Peoria A Rock 1.7s, gold
40
Port Huron A L. M. 7s, g. end.
15
Pullman Palace Car Co. stock. 73
do
8s, 4th series 80
bds.,
Rockf. R. I. A St. L. 1st 7s, gld 14
Rondout & Oswego 7s, gold..

...

coup

do
do

coup

te.

A«k.

8BGUBITIB8.

45

.

106*
Long bonds, due ’32-’90. 105* 105*
Asylum or Un.,due 1893. 105*
Han. & St. Jos., due 1886. i'J6
do
do 1887. 106
Hew York State101*
Bounty Loan, reg

.

Ask.

Hannibal A Naples, 1st mort
Great Western, 1st m.t 1888.. 102
do
ex coupon....
88:
do
2d mort., 1893.
Quincy & Toledo, 1st m., ’90..
Illinois & So. Iowa, 1st mort

Han. & Cent. Missouri, 1st in
do
ao
consol, m. 7s 105*
Pekin Llnc’ln A Dec’t’r,lst m
Chicago, Rk. Island & Pacific. ioe% 106% Boston & N. Y. Air Line, 1st in
103
Cin. Lafayette & Chic., 1st m
do
S. F. Inc. 6s, T)5 102
Central of N. J., 1st in., new... 103* 103* Del. & Hudson Canal, 1st m.,’9: 99
100
do
1st consol
do
do
do
56*
1884 97*
99
50
52
do
do
do
con.conv....
ao
1877 97
37
do
do coup. 7s, 1S94
Lehigh & Wilkes B.con.guar 35*
88
Am. Dock & Improve, bonds 44
do
do
reg. 7,1891 8S*
Ch. Mil. & St. P. ’st m. 8s, P.D 114* 115
Long Island RR., let mort.
94
90
do
2d m. 7 8-10, do
do
South Side, L. 1., 1st m. bonds.
do
do
do
sink. fund...
7s, gold, !’. D.. 92
do
do
1st 7s £
do
Western Union Tel., 1900, coup 102
do
1st m., La C. D.
do
do
do
reg..

17
28
10
10
10
10
10
U Lfc
93
100

106 %

6s, Canal.Loan, 1877
6b,
1878
do
6e, gold, reg.... 1887
6s, do coup.. 78S7
6s, do loan, ,.1883
do
1891
<8. do
do
1892
6s, do

"20

113

per cent value, whatever the par may

8KOUBITIBB.

Joliet* Chicago, lstmort... 106
‘87
Louisiana A Mo., 1st m., guar 85
St.Louls Jack.& Chic.,1st m. 104* 105*
Chic. Bur. A Q. 8 p. c., 1st m... 113* 115

101H
.

ex

lstmort
Income

Prices represent the

page.

Aak.

23

m...

Chicago A Alton sinking fund.

„

do

Bid.

Chesapeake A Ohio 9s, 1st

Alabama 5», 1883
58,1886
do
do
8s, 1886

previous

on a

•BOUBITIBS.

Bonds*

do

QUOTATIONS OF STOCKS AND BONDS IN NEW YORK.

Railroad Stocks are Quoted

..

Montgomery * VTest P. 1st 8s.
Mont. &

Eufaula let 8s, g., end
Mobile* Ohio sterling 8s.
do
do ex cert. 6s
do
8s. Interest
do
2d mort. 8a
N. Orleans & Jacks. 1st m.8s.
do
2d m. 8s.
Nashville & Chattanooga 7s..
Norfoik & Petersburg 1st m. 8s
do
do 7s
do
2d m. 8s
Northeastern, S. C., 1st m. 8s..
do
2d m. 8s
..

Orange & Alexandria, lsts, 6s.
do
2ds,6s..
do
3ds,8s...
do
4ths,8s..
Rlchm’d A Petersb’g 1st m. 7s.
Rich. Fre’ksb’g A Poto. 6s

do
do mort. 7s
Rich. A Danv. 1st consol. 6s...
Southwest RR., Ga., 1st m
S/Caroiina RR. 1st m. 6i
do
7s, 1902
do
Ts, non mort..
do
stock
Savannah & Char. 1st M. 7s
Charleston & Savan’h 6s, end
West Alabama 2d m. 88, guar..
do
lstm. 8s

62

...

20

30

30

22
5

94
70

1

jjm s. Bonds and active

221

• • •

30
39
39
20
12
98
75

89

82
92

80
08

‘So

89
95

85
76
62%
40

95
fc3

90
75

88
80

70
45
100

94

73
90
83

75
05

80
45

....

30

25

25
9«i

93

92
93

PAST DUE COUPONS.
Tennessee State coupons
South Carolina consol
Virginia coupons
...
do
consol, coup
Memphis City Coupons ......
*

Price nominal,

45

70

20
82

35

52
^0
30
fe

45

THE CHRONICLE

222

AND

STATE, CITY AND CORPORATION FINANCES,
The “ Investors’ Supplement” !s published on the last Saturday
of each month, and furnished to all regular subscribers of the
CHRONICLE. No single copies of the Supplement are sold at the

only

as

a

sufficient number is printed to supply regular

subscribers.

REPORTS.

ANNUAL

Pennsylvania Railroad.
From

(For the year ending Dec. 31,1876.)
the annual report we have the following :

EARNINGS AND EXPENSES ON

ALL

LINES

EAST OP FITTSBURG

The total earnings

and expenses of your main line from Pitts¬
burg to Philadelphia, including branch and leased lines, and
from Philadelphia to New York, including the Delaware and
Raritan Canal, the Belvidere Delaware Railroad and the Flemington Branch, and of the Philadelphia and Erie Railroad, were
follows

:
WORKING EXPENSES,

GROSS EARNINGS.

$21,132,560

General freights.
First-claa* passengers

Transportation

Emigrant passengers
Express matter
Mails..;
Miscellaneous

377,747
561,943

Canal earnings (Del.& Rar¬
itan)
V

$8,134,863

Motive power
Maintenance of cars
Maintenance of road
General expenses

13,152,867
184,671
593,719

6,283,018

1,997,347
4,713,385
420,302

852,^51

Canil expenses (Del. & Rar¬

itan)

523,306

Deduct rentals raid Phila.
Belvidere Delaware
Branch roads

$21,081,229

as

25,528
74,337—

& Erie

343,901

$14,465,929

$920,547
210,366

l,63i,543

500,630—

ACCOUNT.

Receipts.
Net earnings as above
Interest and dividends from investments owned
Interest from investments received with lease of

panies, N. J
Total available income
Disbursements.
Interest on bonded and floating debt, Pemi. Railroad
Dividends of 8 per cent on stock
State tax on dividends
State of Pennsylvania on purchase of main line
Rent of Harrisburg & Lancaster Railroad
Phila. & Erie Railroad, net earnings
Branch roads connected with mam line for earnings

Dividends, interest and rentals, &c,,

on

Centennial construction and expense

40,600
16,238

260,COO

Before the close of

the

221,261

$611,700

Total....

$500^000

the Company entered into an
arrangement with the Cambria Iron Company and the Pennsyl¬
vania Steel Company for the supply of steel rails that would be
needed during 1877, those companies to make the rails at any time
during the winter, and the Pennsylvania Railroad Company to
give them its vouchers for the amount inspected and delivered,
payable at the times the rails would be required for use in 1877,
say April, May, June and July.
The amount of vouchers issued
up to December 31, 1876, was $338,131.
The vouchers as they
mature will be paid out of current earnings, and charged to
year

In the last annual report it was
needed for purposes of construction

stated that there would be
and equipment during the
year 1870 about $3,500,000, to meet the requirements of the Main
Line and of the New Jersey Division.
The amount expended
within the year on all the lines, chargeable to these accounts,
was $3,087,025.
It will be observed in the statistics of these
accounts that the extraordinary outlay of capital incurred in
connection

tracks,

with the

other

and

Centennial

facilities

Exhibition for the

buildings,

longer required, have been
deducted from the Income Account of the year, and not charged
no

to construction and

equipment.
actually expended during the year for construc¬
tion, equipment and real estate was as follows :
The amount

Pennsylvania Railroad
Jersey

United Railroads of New

$943,778
280,869

proper

For equipment..
.
For real estate, exclusive of Navy-yard
...
property
For extension of, and new work upon, branch and connecting

$1,224,648
646,159

roads'

477,396

733,821

Making a total of
$3,087,025
all of which sum is represented by new and valuable property
for the future uses of the Company and its auxiliary lines.
It is gratifying to be able to state that all the outlays required

by the company during the year were provided for out of its own
assets and net earnings ; that there has been no increase of its
bonded indebtedness or of its capital stock, and that the com¬
$1,411,139 pany is entirely free of floating debt.
It is believed that the sum required for purposes of construc¬
tion, equipment and real estate for the present year, on all their
$14,465,929
lines east of Pittsburg and Erie, including branch roads, will
2,832,072
not exceed two millions of dollars, and when it is considered that
Com¬
252,559 this sum is less than one per cent, of the actual capital invested
in the various roads owned or controlled by your company east
$17,551,061
of those cities, which is now over $200,000,000, it may be con¬
sidered as about the minimum amount per annum that should ha
$3,571,126
5,509,587 applied to the proper additions and extensions of your large
495,862 properties, in order to place them in thorough condition to meet
460,000 the
increasing through traffic and the wants of the various
134,228
920,547 branches of industry that will require new facilities.

United

..

due them
lease of United Companies

..

500,630

4,409,520
account

115,855

Total

$16,117,353

Balance to credit of profit and loss
Profit realized on sundry items, open account in 1676

$1,433,703
77,281

Making total to credit of profit- and loss
$1,510,984
From the President’s report we condense the following:
The total amount carried to the credit of profit and loss for

the year is $1,510,934, and as your Board
the balance to the credit of Contingent

of Directors have caused
Fund, $2,000,000, to be

merged into profit and loss—the balance to the credit of which
at the last report was $10,077,839—the whole amount to the
credit of the latter account at the close of the year would be
$13,583,823. Against this amount, however, your Board, upon
the recommendation of the Finance Committee, after examina¬
tion of the bonds, stocks and other assets of the company, have
directed sundry charges to be made, including amount
charged
off to reduce the insurance fund to a nominal sum, the
deprecia¬
tion of the value of materials on hand, one-half of the subscrip¬
tion of $250,000 to the Centennial stock, the discount on the
Navy-yard bonds alluded to in the last report, and sundry open
accounts carried into Suspense Account,
including some of the
stocks and bonds owned by the company deemed of doubtful
value, amounting in all to $3,534,626, which, deducted from the
above balance of $13,588,823, leaves as the balance to the credit
of profit and loss December 31, 1876, $10,054,197.
In addition to the foregoing reserve, the company
has an
excess of $27,000,000 as the difference between the cost of con¬
struction and equipment as charged in the General Account and
the actnal cash expenditure for those purposes.
It will be observed that the amount of earnings in cash re¬
ceived during the year from securities held
by the Company was
$2,832,572, and that the entire interest of the bonded debt of the
Company and such floating debt as existed during the year was
** ,571,126; all this interest, with the exception of $738,553, was
therefore paid by the earnings from those securities.
The subject of the insurance of the
property of the Company
from loss by fire has received special attention from
your Board
of Directors during the past year.
The result has been the adop¬
tion of a system by which the Company will become its own
insurer ; and to cover any
Josses which may arise the following
securities, representing a cost of five hundred thousand dollars




Cost.

$221,700

$12,834,385
11,423,196

compared with 1875
SUMMARY OP INCOME

of N. J

$14,809,831

Phils. &ErieRK... $243,936

Leaving as net earnings from operations
Net earnings for 1875
Increase

Susquehanna Coal Company bonds

For construction:

$36,891,060
Net earnings for 1876
Deduct interest. &c., on equipment
Belvidere Del. RR
Branch roads

Par value.
Western Pennsylvania Railroad Company bonds. ... $280,700
Steubenville and Indiana Railroad Company bonds....
51.000
Summit Branch Railroad Company bonds
'20,000

expenses.

AND ERIE.

as

10,. 1877.

($509,000), have been placed under, the charge of three trustees,
designated Trustees of the Insurance Fund;

3 tu)£0tmenf0

office,

March

COMPARISONS WITH

Earnings and expenses
Gross
Gross

on

1875.

all lines east of Pittsburg and Erie:

earnings, 1676
earnings, 1875

Increase'.
Gross expenses,

1876

Rentals and interest
Gross expenses,

on

equipment, 1876

on

equipment, 1875

1S75

Rentals and interest

Increase
Net earnings,

r

$36,891,060
34,464,104

$2,426,956
..$22,081,229
1,975,415
—$24,056,675
$21,094,461
1,946,446
23,040,908

..

$1,015,76*
1876, after deducting rentals and interest on equip¬

ment

Net earnings, 1875. after deducting rentals and interest on
ment

Increase in net

e

rnings, 1876

.$12,834,385
equip¬
11,423,196

$1,411,189

The

earnings per mile received from the 358 miles of main line
were $51,916, showing an increase of earnings per mile
99 over the earnings of 1875. The whole number of pas¬
sengers carried in 1875 was 5,609,787, and in 1876 was 6,926,016,
showing ah increase of 1,316,229. The number of tons of freight
moved (including 677,636 tons of fuel and other materials for the
company’s use) was 10,600,547 tons, embracing 4,837,896 tons of
coaJ, exclusive of 501,236 tons of coal for the company’s use. It
was the previous year 9,787,176 tons, showing an increase of
813,371 tons, or about 8 3-10 per cent. The increase in coal ton¬
nage was 106,460 tons.
The actual cost of operating your main
line in 1876, excluding branches, was 58 70-100 per cent, of its
receipts, and including branch lines 59 9-10 per cent. In 1875
the cost of operating your main line, excluding branches, was
55 87-100 per cent, and including branches 57 55-100 per cent.
The expenses of 1876 include many unusual outlays made to
meet the possible requirements of the Centennial Exhibition.
The actual cost of operating the United Railroads of New Jersey,
including branches, also the BelviderdRDeiaware Division and the
Delaware and Raritan Canal, in 1876, was 58 8-10 per cent of the
receipts from transportation ; in 1875 it was 68 19-100 per cent.
The actual cost of operating the United Railroads of New Jersey,
including branches, in 1876, was 56 9-10 per cent of the receipts
from transportation; in 1875 it was 68 19-100 per cent.
in 1876
of $620

TRAFFIC STATISTICS.

The tonnage movement and

mileage over your lines east of
Pittsburg and Erie are shown in the following statements,
where comparison is made with the results of the previous year*

March 10,

Tonnage mileage.

/-Tonnage movement.—,
1876.

Main line and branches
United Railroads of N. J.....
Belvidere Delaware and Flemington branch
Delaware & Raritan Canal...

Philadelphia & Brie

1875.

1876.

1875.“

9,922,911

3,377,605

9,115,368 1,629,742,021
180,635,678
3,268,440

1,479,411,466

1,246,967
1,897,708

1,002,480
1,958,001

60,970,796

47,157,234

340,390,703

-311*,919^09

2,517,470

2,396,434

187,699,616

18,962,601 17,730,726 2,221,729,198 2,026,190,425
The following table shows the average earning and average
cost of freight per ton per mile, and the resulting profit on each
of the divisions:
Totals

Av.

earn’gs

per ton

Length
Pennsylvania RR. and branches.. 963
United railr’ds of N.J. & b’rneh’s. 291
Belvidere Division
80
258
Philadelphia & Erie

Average
profit.

Average

per mile.
0 *>92-1000
1 737-1003
1 049-1000

cost.

0
0
0
0

0 582-10''0
1 562-10fi0
0 782-1000
0 501-1000

0 776-1000

310-1000
175-1000
267-1000
272-lOJO

The expense of moving 677,036 tons of coal and material for
company’s use, from which no revenue is derived, is charged
against the paying tonnage, and included in the cost of 582-1000
of one cent per ton per mile.
The statements beneath given show the statistics of passenger
travel over the lines of the company east of Pittsburg:
PASSENGER MILEAGE AND

AVERAGE EARNINGS
'

,

.—Passenger Mileage.—,
1875.

Main and b'ches. 288,312,089
United r’ds N. J. 202,188,535
Belvidere Del... 10,232,524
Phila & Erie.... 22,425,613

160,421,998

623,203,761

314,234,876

Totals

The

TER

MILE

ON LINES EAST OP

PITTSBURG.
,

1576.

162.225,745
6,469,333

15,117,S10

Average earnings, &c.

Av. earn’ga
per pass,
per mile.
1 882-1000
2 213-1000
2 291-1000
2 347-1000

2 056-1000

Average
cost.

1
0
2
2

029-1600
966-1GOO
071-1000
101-1000

1 055-1090

exceedingly low average earning on both

1876.-

received under the terms of the several leases.
It has been frequently charged by parties inimical

to your
company’s welfare that there were very large amounts of Penn¬
sylvania Company’s paper issued to the Pennsylvania Railroad
Company for accommodation purposes, and indorsed by it. This
statement is absolutely without foundation, as all of the Penn¬
sylvania Company’s paper in existence has been issued for the
proper and necessary purposes of its own and subordinate lines.
On December 31, 1876, tbe bills payable of the Pennsylvania
Company had been reduced to $2,588,933. Of this amount the
Pennsylvania Railroad received the sum of $2,155,233 for ad¬
vances made to the Pennsylvania Company to meet the require¬
ments of the companies west of Pittsburg in providing for the
necessary construction and equipment on their lines during past
years, and for other outlays requisite for the proper protection
and improvement of the large properties committed to their
charge. Of the above amount received by the Pennsylvania
Railroad, $2,050,000 have been discounted, with its endorsement,,
to partly reimburse it for its advances to the Pennsylvania Com¬
pany.
It fs proposed that all the floating indebtedness of the
Pennsylvania Company shall be funded at an early date.
SUMMARY OF LINES EAST AND WEST OF riTTSBURG.
Grogs earnings, all lines, 1876, from traffic
...$61,561,211
Gross expenses, excluding rentals, interest,
&c
39,495,736

dividends,

Net

earnings

$22,065,4741

r.

Railway.
Av. profit
per mile.
(For the year ending December 31,1876.)
0 833-1COO
1 247-1000
The annual report has the following :
0 217-1000
The following table exhibits the sources of revenue and ex¬
0 243-100J
penses of the several lines of the company in the year 1876, com¬
1 001-10CO pared with those for 1875:
EARNINGS OF NORTHERN

freight and pas¬

business is attributable chiefly to two causes. Tlie first
was the unwise competition in all through competitive traffic
forced upon the trunk lines under the seriously mistaken policy
which endeavored to secure to certain of tbe trunk lines more
than a due proportion of through business; an attempt which,
while depriving the lines in great part of the profit which should
legitimately result from their operation, failed to accomplish the
object sought to be attained. The second cause of the low rate
of earning was the policy adopted by the company of aiding the
mining and manufacturing interests of the Commonwealth, and
especially of those along its lines, by making temporary reduc¬
tions in its freight rates during the severe depression which continued in all branches of trade throughout the year. Your Board
believe this latter course to have been judicious ; otherwise a
largo number of important industries could not have remained
in active operation.
By tlie most rigid economy in every depart¬
ment, and by the thorough maintenance of the road and equip¬
ment, the cost of movement per ton per mile was reduced to less
than six mills -certainly a gratifying result.
There lias been
moved over tbe main line and branches during the year 8 86-100
per cent more tonnage than in any like period since their con¬
•

struction.
In the month of December, 1876, an arrangement was entered
into between the several trunk lines, under which a consider¬
able advance was secured upon the then prevailing unremunerative rates on through traffic. It is hoped that this may be

.

$288,332, was charged to betterments, for which last securities
are

Northern Central

senger

>/•

223

THE CHftOlUCLfe

1877.]

CENTRAL AND BRANCHES,

line.
Div.
Div.
$2,025,511 $252,903 $143,020

Receipts.
Freight
Passenger?
Express

Div.

Div.

170,765

580,763

26,077

16G.325

240

3,723

Mails.

1,330

Miscellaneous

90,886

334

9,272
13,065
1,6j2

$M17

Increase
Decrease

322

Includes Green Spring

Div.

Div.

$47,237 $172,221

$550,795
541,732
253,562

Total.

Div.

$962,867

93,693

8 i 2,242

57,556

8,746
92,279

328

662

271,621
1,057,09(1
78,503

48,671
1,648

1,281

62,297
9,281

06,946

Div.

$61,658 $129,296

152,521
11,040
204,078

35,011
1.622

6 55,074

Maint’n’ce of cars.
Maint’n’ce of way.
General expenses.

1876.

Shamokin Elmira Chemung Canand’a

Main
line.

Motive power

$55*6,m

Branch, $8,963 in 1876, $14,322 in 1875.

EXPENSES OF NORTHERN CENTRAL AND BRANCHES,

Expenses.
Transportation...

..

$62,990

$15,843

$129,137

$473,393

WORKING

$2,018,110 $151,449 $541,097 $161,863 $319,669 *$3,242,325
302,101 *3,362,123
154,932
513,538
204,726
2,092,661

Increase
Decrease
*

932
242

931,782
69,038
45,337
93,418

10,391
7,446
1,975

$2,772,954 $280,885 $633,316 $241,659 $432,142 *$4,369,925
369,151 *4,926,247
4! 0,022
237,242
649,160
3,246.318

Total
Total 1875

Total.
Total 1875

Total.

$332,005 $3,230,288

65.995

48,415
27,372

*

1876.

Shamokin Elmira Chemung Canand’a

Main

$27,558

$53,276

$44,550

Includes Green Spring

The above statement

$14,930

.

...

$42,432

Branch, $12,135 in 1876, and $34,161 in

includes the

$119,798

1873.

extraordinary expenses, amounting to

$205,839.

Omitting the extraordinary expenses ($205,839), the total
improved upon and be made permanent by adopting a proper working expenses were $3,036,485, and net earnings $1,333,439.
system for dividing the*business or its results; so that each of
In comparison with the year 1875, there was a decrease in the
the various lines may have insured to it a proper share of the
traffic and the public be thereby relieved from the uncertainties gross earnings of $556,322, equal to 11 29 100 per cent; and a
decrease in tlie operating expenses of $325,637, equal to 9 69-100
and disadvantages attending the fluctuations of irregular rates.
This done, the companies will be enabled to give greater facilities per cent. The decrease in the net earnings was $230,684, or
14 75-100 per cent.
The operating expenses were 69 48-100 per
to the public and make sufficient profit in their operation to pro¬
cent of the gross earnings, which, in
tect and remunerate the capital invested in them.
This policy shows an increase of 1 23-100 per cent. comparison with 1875,
has received the earnest support of your Board of Directors, and
INCOME ACCOUNT.
it is believed that during the present year such a permanent plan
In addition to the net earnings of
$1,333,439
as is above alluded to may be agreed upon, greatly to the benefit
59,632
There were received from dividends and interest
of the business interests of the country and to the owners of And contribution for operating Elmira,Chemung and Canandaigua
divisions (from Pennsylvania Railroad)
........
56,487
railway property.
Before the close of the past year negotiations were concluded
Total
$1,449,559.
with the Baltimore & Ohio Railroad Company, whereby all the
Which have "been applied as follows:
business that is competitive only between that company and your
Interest on all mortgage indebtedness, exclusive ©f second
own has been placed on a basis to make all such traffic remune¬
general mortgage
$621,879
rative. This arrangement has been of great service to both Interest on $1 000,000 second general mortgage, 6 per cent. 60,000
companies, and will no doubt result in still further measures for Interest on $3,000,090 second general mortgage, 5 per cent 150,000
bonds....:......
the better protection and promotion of the interests of the respec¬
(Of this amount, $125,500 have been paid on amount ex¬
tive companies.
changed to Dec. 31, 1876, and the balance, $24,500, re¬
served by the treasurer to meet the interest as remainder
LINES WEST OF PITTSBURG.
is exchanged; a large portion of which balance has
The lines owned, or otherwise controlled by your Company,
been adjusted to Feb. 15.)
weBt of Pittsburg, are all operated by the Pennsylvania Com¬ Interest, discount, gold premium, taxes, &c
65,960
Rents and interest on mortgages and ground rents
36.716pany, whose general office is at Pittsburg.
52,167
Rental Shamokin Valley & Pottsville Railroad
Interest on equipment Shamokin Valley & Pottsville RR.
10 426
The totnl earnings of the Pennsylvania Company, on lines man¬
155,000
aged and controlled by it, for the year 1876, were
$24,670,150 Rental Elmira & Williamsport RR
33,977
Expenses for the same period
-.
17,414,507 Interest on equipment Elmira & Williamsport RR
Dividends Chemung

Net earnings
*
From this are to be deducted rentals, interest, dividends, and lia¬
bilities of every kind chargeable thereto (including the entire net

earnings of the G. C. & I. C. Railway paid over to the Receiver
including additional liability, if
any exist, under the lease now suspended and in litigation) .. ..

$7,255,642

7,291,496

It will be seen from

.M59
12,118
35,000
25,239— 1,260,133

$189,425

Balance for 1876

under orders of Court, but not

Leaving a net loss in 1876 on the lines west of Pittsburg
The entire expenditure made for construction and equipment, on
all lines west of Pittsburg, for 1876, was

Railroad

equipment Chemung Railroad
Rental Elmira Jefferson & Canandaigua RR... .. — • •
Interest on equipment Elmira Jeffersoa & Canandaigua RR.

Interest on

the foregoing statement

that, notwith¬

standing the unexampled depression in business during the past
the net earnings of the company, amounting to $1,449,559,
$558,399
exceeded the interest charges upon itB total mortgage,
$35,853

year,
have

large amount of steel rails, aggregating 20,514 tons, has indebtedness and leases.
This statement exhibits the actual result of the operations
been laid during tbe past twelve-month on the lines west of
of your lines for the year 1876, but, in addition to the working
Pittsburg. On the southwestern lines all of the steel rails laid
expenses above reported, there was incurred in the pursuance of
was charged to expenses ; and on the northwestern lines the dif¬
ference between the cost of steel and iron rails, amounting to the policy adopted last year, and fully set forth in the last
A




—-—-—.—■

.

1

,

">

"

tcport, ed additional
your property.

expenditure of $205,839 in betterments to

-Add net income for year

1676

'

$53,101, and from telegraph and miscellaneous
$13,046.
All the expenditures upon the road have been charged to
repairs, and the construction account closed. Very considerable
sums have been in this, as in former years, charged to repairs,
which might properly be regarded as construction, but it has been
deemed advisable to charge the whole amount to repairs, although
a slight increase in the ratio of working expenses is shown,
$692,350 of the stock of the Cincinnati and Baltimore Railway,
$1,191,700 of the stock of the Baltimore Short Line, and $750,000
from express,

sources,

15781
.47
-

The amount to credit of profit and loss, Dec. 31, 1875, was
-$S68,217, from which deduct dividend of three per cent on the
capital stock—amounting to $175,257—paid in April, 1876, out
of the income of the company to Dec. 31,1875, leaves a balance

*

•

$19M>60

-

189,485

$382,886

Total

*05,839

Deduct extraordinary expenses above given

$176,546

balance to credit of profit and loss, Dec. 31, 1876

While the above statement shows a balance of earnings equal
a dividend of three per cent upon the capital stock, your board
tloes not deem it wise to make a dividend, believing it to be

to

‘

prudent to hold the existing balance in reserve.
payable of the company on December 31,1876, show
an increase of $878,901 over the same item on December 31,
■1875. This increasa was mainly made to meet the following
'payments: For construction account—being amounj expended
In completing the improvements at Canton—$421,889 ; for equip¬
ment account— being instalments made on the purchase of one
thousand coal cars—$200,000 ; for purchase of real estate in the
-city of Baltimore, $83,480; for purchase of the bonds of the
'T-ioga Railroad Company, $100,000; for purchase of traffic bonds,
'under agreement, $13,995.
The company has assets and securities on hand that may be
$old, amounting, at the present depressed market value, to
v$643,000; and real estate in the city of Baltimore, not required
lor railway purposes, estimated at market rates at $180,000.
^STour board asks for the continuation of the authority to dispose
these assets, and to apply the proceeds to reduction of the
indebtedness of the company. The company has in reserve one
million consolidated general mortgage bonds and one million
^second general mortgage bonds, for its purposes. Your board
no necessity in the immediate future
for any expenditures
Tor construction and equipment, your property now having a
transportation capacity sufficient to meet all demands that will
$>robal>ly be made upon it for some years to come.
'During the past year, $100,000 of the bonds of the Tioga RR.
*-Co. were purchased bv this company under agreement, as stated
dn report of your board for 1875. The contemplated extension of
the line of the Tioga company to a connection with the Elmira
line of this company, at a point about two miles south of Elmira,
$ia8 been completed and opened for business. It is believed that
Inore

The bills

pthe traffic from this

‘

new connection will be a very valuable one,
especially to the lines controlled by this company running north¬
ward to Watkins and Canandaigua.
In accordance with the plan proposed in the last report, and
Approved by the shareholders at the annual meeting held Feb.
$4,1876, a second general mortgage upon all the property of this
'company, to secure the issue of $5,000,000 of bonds, has been
treated, dated January 1, 1876, due January 1, 1926. Of this
^amount, $3,000,000 were appropriated to be exchanged for a like
amount
of the 7 per cent income bonds of this company,
$1,000,000 to te exchanged for a like amount of the 7 per cent
<!convertible income bonds, and the remaining million of dollars
■reserved for the fulure wants of the company, and to be issued
x>nly under the authority of the stockholders.
Under the above terms, the $1,000,000 of 7
per cent convert¬
ible income bonds, due April 1, 1880, have been
exchanged for a
like amount of 6 per cent convertible second mortgage bonds
due January 1, 1926.
Of the 7 per cent income bonds, $2,756,000
had been exchanged up to the 15th of February for a like
•amount of the 5 per cent second
mortgage bonds, due January 1,
'4L926, leaving a balance of $244,000 yet to be exchanged.

Marietta

&

Cincinnati

Railroad.

{For the year ending Dec. 31,1876.)
The report

following:,

presented by Mr. John King, Jr., President, has the

The ratio of

working expenses is 78*91 per cent, and tlie net
warnings $345,181, a decrease of $26,243, as compared with the
^rear ended December 31, 1875. The decrease in gross earnings
•was $24,963, and the increase in expenses $1,280.
The following statement furnishes particulars of the revenue
'End working expenses, in comparison with the two
preceding
.years :
c

1874.

Expenses—
Machine department
'Road department
Trnn^poitation department
Mileage of cars

1875.

1876.

$5,094,510

Warnings

$1,662,015

$1,637,152

565,801

433,162
394,069

465.652

468,876

391,350

337,457

49,159
23.259
68,912

22,013

$1,571 359

$1,290,590

$1,291,870

371,424

,315,181
73*9l p. c.

...

Telegraph department

'General expenses
.

Totals
Earnings more than expenses

Working
2T-he

[Mawh 10, WT.

THE CHRONICLE.

224
k.

expenses

revenue

from passengers was

523.150
75 p. c.

24.916
78.966

77'o5 p. c.

$478,972.

36",483
327,557
32,949
24,427

73,800

The total number

^of passengers, through and local, carried during tlie.

Baltimore Short Liue were sold at par and
accrued interest, and $1,996,000 ot the fourth mortgage bonds of
the Marietta and Cincinnati Company were sold at 75 per cent,
of the bonds of the

and accrued interest,

making

a

reduction in the floating debt of

$4,183,770.

Statements have been made, from time to time, in the annual
reports, of the regular and rapid decrease in the rates of through
freight. In order that this may be more fully understood, the

following table and remarks are presented :
Comparison of through freight from 1868 to 1876 inclusive:
Ton9.
«

187i
1873

1876

Revenue,

Av. per ton

$19',586
253.174

$2 90

284,583

432,37b

1868
1S69

67,462
...1(0,447
120,024
183.341
292,897
'3SH,:0i
o99,5»7
291.5 9

Year.

604,640

2 52
2 37
2 13
2 06

3S8.845
748 553

1 93

626,543

1 £6

390.519

1 34

491,608

1 14

that in 1876 ihe quantity of east-bound through
as great as in 1868, and the revenue only
about four times as much.
Had the rate for 1868 governed in 1876, the revenue from
It will be

freight

was

seen

twelve times

through traffic, instead of being $491,608, would have been
$1,153,890, or $662,281 more than 1868.
Special reference is made to 1868, for the reason that at that
time a series of improvements were commenced, upon the com¬
pletion of which it was expected to have the road in such condi¬
tion as to command a large share of the through traffic, which
was regarded as very desirable, and which was then transported
by rival routes.
It is interesting and highly important to consider the causes
which led to this fearful reduction in prices.
Notwithstanding
competition became more and more severe, the through business
became profitable until the panic of 1873.
After that period the
quantity was large, but the rates were gradually reduced. In
1875 a fierce contest began between the trunk lines, in which the
Marietta and Cincinnati Company necessarily became involved,
and the net, revenues were seriously impaired.
The difficulties, however, were in the latter part of the year
satisfactorily adjusted, and at the close of the last annual report
the hope was expressed that an improvement would follow. This
reasonable expectation was realized only for a very short time.
In January, February, and a portion of March, 1876, fair rates
were obtained for this important trade, and the company was
enabled during this period to secure improved net results.
Just
previous to the resumption of lake navigation, however, in the
spring of 1876, the New York Central Company demanded of
the Pennsylvania and Baltimore & Ohio companies that the rates
between the West and New York, Philadelphia, and Baltimore
should be the same, regardless of distance. It was insisted, for
example, that the rate between Cincinnati and New York, a dis¬
tance of 867 miles by the New York Central route, should be the
same as between Cincinnati and Baltimore, a distance of 579
mibs via Parkersburg.
To admit such a principle would be
utter ruin to the Marietta & Cincinnati Company.
*
*
*
Tim New York Central Company began the conflict by
reducing east-bound rates from all points to the basis of 20 cents
per 100 pounds or less from Chicago to New York, and 16 cents
from Cincinnati to New York.
Contracts for west-bound freight
were made by that company under the cost of transportation.
Finally the controversy was adjusted by making through rates
by all routes the same on competitive traffic destined to paints
reached by ocean beyond New York, Philadelphia and Baltimore
basis which would have been as acceptable to the Baltimore &
Ohio and Marietta & Cincinnati companies on the outbreak of the

a

difficulty as when it was settled on December 18,1876.
The object of this fierce and prolonged attack, in conducting
which vast sums were wasted, was, as avowed by tbe New York
Central and its affiliate lines, to restore to the City of New York
that portion of the produce trade, especially grain, which had
been diverted to Baltimore and Philadelphia, in connection with
their geographical locations, and their increased advantages and
facilities.
Doubtless antagonism to the New York Canals was also an
element in establishing this policy of aggression.
The result can
be

briefly stated

:

The produce of the West, seeking

a

market

upon the Atlantic seaboard, was distributed between the three
cities in about the same proportion as in the previous year, the
New York Central gaining materially less than the canals lo6t.
The cities of Baltimore and Philadelphia have more than main¬
tained the ratio of increase which has marked each of the several

year was
decrease in the number of passengers of 7,528, and an preceding years. & Cincinnati Railroad
The Marietta
carried of east-bound
incre* se in revenue of $5,279, as compared with 1875.
There was
through traffic about double the quantity transported in 1875.
■*m increase in tlie number of through
passengers of 17.243, and
Tn revenue, $41,926. The rates were lower tliau in 1875, and the
Chicago & Alton.
increase is to be accounted for principally by the Centennial.
There was a decrease in the number of local passengers of 25,345,
CFor the year ending December 31,1876.)
^and in revenue of $37,008.
.The annual report has the following:
The revenue from freight was $1,020,424, being a decrease, as
Length of road operated—miles—Chicage to Joliet, (leased
'■^Compared with 1875, of $9,516.
37’20; Joliet to East St. Louis, (owned) 21350; Dwight to Wash¬
The revenue from the transportation of mails was
$71,507; ington and branch to Lacon, (owned) 79*80; Roodliouse to Louis-

:-676,941,




a

(owned) 3810; Coal Branch, (owned) 3 98; Chicago &| The policy of substituting steel rails for those o* i-on, ancfc
80;. St. Louis Jacksonville & Chicago, permanent structures for those of perishable material
h n beei^
(leased) 150*60; Louisiana & Missouri River RR., (leased) 100 80 ; steadily pursued by your Company, and very great improvements
has been made during the year. The following tabular state*
total, 677 84.
In pursuance of the terras under which the several leased lines ment shows the number of miles of main track laid with st
1 rail&are held and operated, there has been expended upon them for
upon your several lines at the close of the year:
Total dist’ce.
St.el rails,.
improvements and additions an aggregate sum amounting to
iana,

Illinois River, (leased) 23

e

$4,600,000, which, deducted from the total amount of
and bonds, leaves a balance of $16,520,650, repre¬
sented by the lines of railway and other property owned by your
Company, and by leasehold interests in other lines above desig
nated.
The sum last named is equal to about $38,420 for each
mile of main track owned by your Company.
about

stock

to

Mazon River

From

$1,252,688
3,173,531

3,511,316
99.963
97,969
3,429

96,192

$4,960,523

Mails
Kiecel'aneons

$4,656,763

sources

Total

98,880

35,470

OPERATING EXPENSES.

1876.

$722,041
733,888
819,863

For Conducting transportation
Motive power
Maintenance of way
Mainten nee of cars
General expenses

1875.

$755,481
729,422

716,610

263,303
151,963

249,916

152,695

343^S

•

•

•

•

53’*6&
11‘58
am

The following statements are submitted in relation to
results of operating the several leased lines during the year :

Joliet &

th&,-

Chicago Railroad.—No separate account of the earning^-,

of this line has been

kept. It is the trunk line of your system of
roads, and the accumulation of traffic to and from Chicago passes^
over it.
Its net earnings largely exceed the amount of rent paid’.,
for its

use.

Illinois River Road.—The terms of the lease of this line were*
stated in our last annual report. It had not been in full operation
by your Company until the latter part of the year, but our expe¬
rience confirms our estimate of its value and importance to you*-

Company. A suit is now pending for a foreclosure of the mort¬
bonds issued by the Illinois River Railroad Company at tha
The increased expenditure for maintenance of way and cars instance of
parties holding them, but the prior right of your Com¬
embraces more than the average annual amounts of material and
pany to the possession and use of the railway under the lease ia,
labor applied in those departments, and the result is au improved not
disputed, ancl your rights are not likely to be jeopardized
condition of the property.
thereby.
SUMMARY OP EARNINGS AND EXPENSES.
St. Louis Jacksonville & Chicago Railroad.—The earnings of;
18 6.
1875.
this line exceeded those of any previous year, and the value of
$4,960,528
$1,656,763
2,691,061
2.604,125 the lease to your company is enhanced as the traffic of this lino,
In addition to the profit d-rived directly from traffic
increases.
$2,209,467
$2,052,638
54 25 100
55 92-100
upon this line, the gross earnings upon your main line on freight
INCOME ACCOUNT.
and passengers destined to and from the St. Louis Jacksonville
4*
$126,585
4,960,523 Chicago Railroad amounted to $329,056.
$2,691,061

Total

$2 604,125

gage

‘

.

..

,

..

.

.

..

Total

Louisiana & Missouri River Railroad.—The traffic

Disbursements.
Interest on fanded debt...
Paid St. Louis Jacksonville & Chicago RR. Co. rent ...
Paid Joliet & Chicago rent
Paid Louisiana & Missouri River RR. rent
Paid dividends Nos. 26 and 27
Paid operating expenses, including taxes on property
due in 1676

$590,916
240,0)0
132,355
69,436

988,052

2,601,290— 4,825,650

$261,463

Balance, after deducting ordinary charges
There has been paid and charged in

this account during the
year 1876, on account of taxes for 1873 and 1874, and sundry small
amounts of bad debts accumulated since 1863, " written out,” an
aggregate amounting to $238,366, leaving a balance of $23,126.
For the purpose of representing the remaiuder of accumulated
net earnings from traffic, there should be added to the above
balance the amount of a special fund appropriated temporarily
from thia account, to provide for working supplies.
Adding that
amount, $500,000, the correct balance of this account is $523,126.
This balance was represented at the close of the year, by supplies
of various kinds in hand, inventoried at their present cash value,
amounting to $393,077, and by cash and bills, and accounts
receivable, as shown by the general balance sheet herewith
reported. The general assets of the Company, at the close of the
year, in addition to its railway and equipment, consisting of sup
plies, fuel, &c, on hand for future use, securities of the Missis¬
sippi River Bridge Company, bills and accounts receivable, stock,
cash, and cash assets considered good, in excess of bills and
accounts payable, amount to about $1,325,000, which may be
considered the accumulated surplus, in which is include! the
balance to the credit of income account. The net earnings of the
Mississippi River Bridge for the year, based upon rates corre
sponding with those charged on simitar traffic over the bridges at
Hannibal and QuiDcy, after deducting all expenses for operation
and repairs, ordinary and extraordinary, amount to $96,760, or
12 per cent of its cost.
The net profit derived from traffic during
the year, after deducing therefrom all fixed charges, rents, taxes
and expenses, properly chargeable thereto, is equal to 9 per cent
on the share capital of the company, both preferred and common.
PASSENGER DEPARTMENT.

1876.
Inerea°e.
1875.
Decrease.
©f passengers carried..
862.264
873,873
11,611
of local pasj. carried...
820.098
824.218
4,120
of through pas*, car’d.
7,491
42,166
49,675
of pats, carried 1 mile.. 89,913.851
1,317,926
41,231,777
Average rate per milelocal passengers
3 319-1000 cts. 3 329-lOCO cts. 1-100 cts.
Average rate pet mile351-lOCO cts.
through passengers
2 583 1000 “ 2 210-1000 “
Passenger earnings on buei ness from other mads....
$157,836
$165,891
$17,405
Passenger earnings on busi¬
ness to other ro«ds
$127,969
$15,946
$138,198
Pass, earnings on iocal
$82,420
$397,151
$914,730

No.
No.
No.
No.

FREIGHT

DEPARTMENT.

transported

Tonii as c of

freight
trns’ptd.-local
Ton. of fr’ght. transpt’d “through’’....
Revenue freight car¬

1874.

1875.

1,421,158

Tonnage of freight

1,545,802

3,818,235 17 62-1CO

1,211,648

3,3(5,722

1,536,255

Increase.

209,510

180,060

281.9S5

Decrease

170,533
101,905

1870.

p. c.

per mile

per ton

on

rev¬

freight *.. cts. 2 123-1000 1 873 1000 1 626-10C0
Does not embrace tonnage < f company’s lreighr.

enue
*

85MOCO

ROLLING STOCK AND PERMANENT WAY.

The number of locomotives and cars upon your lines at the
close of the year is the same as last reported.




thie;

The failure of the Louisiana & Missouri River Railroad Company
to comply with its contracts of July, 1870, relating to the conrstruction of this line, has left your Company dependent upon the..

St. Louis Kansas City & Northern

Railway Company for a con¬
City.
Without entering upon any extended statement to show the
importance to your company of reaching Kansas City, under cir-^
cumstances that will enable it to participate, on fair terms, ia
traffic which centers there, it may be observed that there are but
four railways from Chicago westward that are able to maintain,,
the payment of regular dividends; and in each case their local traffics
is largely supplemented by traffic to and from Kansas and.
Nebraska. The Louisiana & Missouri River Railroad Company,
in its efforts to carry out in good faith its undertaking with your •
company, met with unexpected obstacles, which it was unable to
surmount, and was reduced to bankruptcy. Its property, subject,
to your rights under the lease and the rights of its bondholders,
has been sold, by order of the court, upon the application of ita.
creditors. It has, therefore, no means of omp'ying with its.,
contracts.
Our Board of Directors are strongly impressed with
the importance of conservative management, and are uuauL
mously opposed to incurring any obligation of a doubtful charac¬
ter.
They are not at present prepared to take any steps to ensure.,
the completion of a line to Kansas City, beyond such as art*
required to obtain full information relating to its cost, and hop&
that facilities over the line of the St. Louis, Kansas City fa
Northern Railway will be extended to your company upon sucK,
nection between Mexico and Kansas

.

conditions

as

to

sary.
But *
your company

render the construction of such

*

*

a

line

unneces-.

it is believed to be now in the power of

-

to procure the through line originally contracted
for, on ttrins involving no greater liability than thoee under the..
existing contract .with the Louisiana & Missouri River Rairoacf
(

Company. The question then arises, would such a line, on sucK^
terms, be a profitable one to your company ?
The best answer to that question is a statement of the fact tli&V
the through traffic alone over our Chicago & Kansas City line*,
during the past year, would have afforded a net profit between.
Mexico and Kansas City, more than sufficient to have paid thn
additional rent or interest for which your company would have,
been liable, had a line been constructed for its use.

SHEET, DECEMBER 31, 1876.
ptneut
Machinery and tools in shops:
In machine shops
In car shops
Trustees—Bonds, etc., in their hands, per contra
Boiids held by same on renewal account
Chicago & Mississippi RR. bonds, etc., owned
St. Loais Jack. & Chicago RR. stock
T. B. Blackstone, Trustee, interest in palace cars
T. B. Blackstone, Trustee, C. & A. RR. common stock
GENERAL B'LANCE

Cost of road and equ

Joliet Iron and Steel Co. stock

ried 1 mile....tons. 162,306,676 168,923,879 217,835,161 4S,911,282

Average rate

over

line, both local and through, has increa-ed considerably during^
the past year, and continued experience in operating it confirms 1
its original estimated value, especially as part of a through linebetween Chicago and Kansas City.
Traffic to and from this line,
contributed to the gross earnings of the lines owned by yourcompany during the year to the amount of $250,103.

.

-

LEASED LINES.

1875.

..$1,218,920

Passengers
Freight
Express

255 17
20*1 ik

(til. River Railroad).

GROSS EARNiNGS.

1876.

280-70
i’3'86
3-98
79-60
15060
36-10
100-80

677-84

Joliet

Mississippi River Bridge Co
Inter-Sta e Industrial Exposition stock
Township bonds
Income bond scrip
Trustees of Sinking Fund Bonds—Cash in their hands to redeem

bonds
Louisiana branch—Cost of construction
Western Divi-ion—Cost of construction
Louisiana & Missouri River RR. construction

$18,147,89&
130,065,,

36,372^
37,631
50,IK Q

2,50(\

7,42&
2tytf><i
1*7,60.1

15.274 *

1 000

14.000
1,084
21.62(k

•
•

l,389.5agfc
2,31?;;

[March 10, 1877,

CHRONICLE.

(THE

226

There has been no change in any of the questions pending
213,910 between the Government and the company during the past year.
88,599 The efforts made to establish a sinking fund which shall extin¬
bills payable and
163,116 guish the Government debt at or near maturity are still con¬
27,03i tinued, but so far nothing definite has been accomplished. That
94,834 no legislation on this subject will be binding until assented to by
2,894
22,738 the stockholders is now generally conceded.
The Omaha & Republican Valley Railroad was built from Val¬
$22,495,961
ley Station, on the Union Pacific Railroad (36 miles from Omaha),
Capital stock, preferred
$2,125,400
to Wahoo, in Saunders county, a distance of nineteen miles, and
Capital Slock, common
10,065,300— $12,490,700 was
10)
opened for business on the first day of January, 1877, and
Convertible scrip of 1372, outstanding
72
Old common stock scrip, outstanding
already pays expenses, in addition to Its advantage as a feeder fo
8.659,850 the main line.
Funded debt
Ig was built under a separate organization, the
572,000
Sinking fund bonds paid and cancelled
funds being furnished from the sales of the first mortgage bonds
37,813
Sundry bonds and stock unused, per contra
248,591 of that company and the bonds of Saunders county furnished in
Louisiana & Missouri River lilt. Bond Fund
732
Unclaimed dividends, old
aid of the enterprise. It is proposed to continue the road through
5r<5
Unclaimed coupons, old
.Saunders county, and probably through Butler county.
143,696
Unclaimed wages, including December pay-rolls
•LoulBUna & Missouri River RR. Co.—Advances

for interest on

their bonds, over rent due them
Coal City Branch—Cost of construction
Bills receivable and debts due this company, less
debts due others
Post Office Department—Due for mail services
Due from Stations—On freight account
On passenger account
Cash on hand

6781

131,051

Due for supplies purchased in December
*
Due St. Louis Jack. & Chicago RR. Go. for rent
Balances due other companies for tickets sold, less balances due
this company
Balances due other companies for mileage, truck services, etc.,
less balances due this company
Amount set apart for supplies
$500,000
Less supplies on hand—
In engineering department
$218,913
In locomotive department
174,111—393,077-

Income aocount,

surplus Dec. 3U, 1876

13.226

11,657
3.

23,126

••

$22,495,961

(For the year ending Dec. 31, 1876.)
president's report has the following : Daring the past,
year the company has paid the interest on its funded debt and
its regular quarterly dividends, and during the same time
decreased its funded debt $415,000 and increased its floating
The

£533,573.

The funded debt of the company Dec.
pared as follows :
Dec. 31, ’76.
Dec. 31, ’75.
First mortgage
$27,2 32,(03
$27,232,000
14,188 000
Sinking fund
14,260,000
Income bonds
1,(00
65,000
Land grants
Omaha Bridge

Rate of Int.
6 p.c. ,

s
72,060

64,010
228,000

7,404,003
2,279, COO

7,63 2,0C0
2,330.000

;..

31, 1875 and 1876, com¬
Decrease.

51,000

$415,000
for the years 1875 and

8 p.c. cur.
10 p.c. cur.
,

follows

:

7 p.c. , cur.
-

gold.

1875.

Surplus earnings.
Percentage of expenses
The passenger earnings

being 0 87
Toeing 9 S8

$l?,83."-,858
5,263,211

$7,011,784
4151

$7,613,647
40 68

Md.,
close

1, 1877.

$4,400,000
58,815
5,750
3,085
41,132
1,920
20,652
5,847
62,311

*

$4,599,515

Total
Liabilities.

$4,400,000

Capital stock
Sinking-tund bonds
Accounts payable
Unpaid dividends

101,000
10,168
S64

Profit and loss

87,982

Total

$4,599,515

...

BUSINESS OF

TeilS.

1876.

Shipped from mines via Chesapeake and Ohio Canal
Shipped from mines via Baltimore & Ohio Itailroad...
Shipped from mines via Pennsylvania Itailroad

61,288
14,778
14
1,215

com

Inc.. $893,026
Iuc.. 286,163

Iuc..$6f6,663

decreased during the year $38,411,
cent, and the freight earnings increased $662,611,

per
per cent.
The Government business included in the above shows an
increase in passengers of $47,371, being 21T8 per cent, and an
increase in freight of $139,791, being 59 59 per cent.
The mail earnings were $574,139. During the year, there were

$105,959 expended for construction. The principal part of this
was as follows : Locomotives (4 new), $40,060 ; general office at
Omaha, $42,8C0.
The repairs of the road have been well kept up during the
past year, and the track and road-bed were never in better con¬
dition than now.
The equipment

LIABILITIES, JANUARY
Assets.

Real estate
Personal property
Mine improvements
.
Vessel property
Cash in Bank of Commerce
Cash in hands of agents
Bills receivable
Coal and materials on hand at cost...
Accounts receivable

77,295

Total for year
*

4,982,047

187m)

Local

1876

1376.

$11,993,8)2

Gross earnings...
Operating expenses...

AND

,

8 p c

year

gold.

.

pare as

(For the

The annual report of the company, of Alleghany county,
contains the following balance-sheet and statement for the
of the year 1876:
ASSETS

106,922

Union Pacific.

assets

Maryland Coal Company.

50,624

of the road consists of 168 locomotives, 167

passenger and baggage cars and 3,060 freight cars.J
The rolling mill at Laramie has been in operation during the
last year, and has re-rolled 10,914 tons of rails, at the contract

price of $18 50

per ton.
The coal mines of the company have produced satisfactory
results during the past year.
The business is increasing and the
sales to the public are much larger.
The production of the
mines for the years 1875 and 1876 was as follows:

STATEMENT FOR

Balance to credit of coal account.
Deduct—

1876.

$31,972
*

-

$1,120

Lecal expense^
office and contingent expenses, stock
Interest on sinking-fund bonds..
Salaries
Taxes

registration, &c

5,540
7,770
8,OCO
...

5,944-28,375
$3,596

Balance

GENERAL INVESTMENT

NEWS.

Atlantic Mississippi & Ohio.—The receivers give notice that
they will pay the January, 1877, coupons on the bonds of the Vir¬
ginia & Tennessee, Norfolk & Petersburg, and South Side Railroid Companys at the office of Perkins, Livingston, Post & Co.,
in New York, on the 15th instant.
The interest due 1st January,
1877, on the interest funding notes of the Atlantic Mississippi &
Ohio Railroad Company will be paid at the same time and place.
Central of New Jersey—Lehigh Coal and Navigation—In
pursuance of the power given him by the Chancellor to preserve
the Lehigh & Susquehanna lease, Receiver Lathrop paid promptly
the March coupons on the Lehigh Coal & Navigation gold loan,
which the Central assumed when it leased the road.
A Philadelphia dispatch of March 6 says that the Lehigh Coal
& Navigation Company on that date served formal notice on the
Central that it would re-enter upon possession of its leased

property, held by the latter road, on the, 15th inst., on account of
the default of the New Jersey Central in payment of the note
Mining.
Ton.
for $250,000 held by the Lehigh Coal & Navigation Company.
$391,885
$1 83
208,222
.264,771
375,520
1 41& Mr. Lathrop says he has replied, denying the right of the Lehigh
Company to take such proceedings under the leases, and announc
Increase
56,545
ing his determination to resist their proposed action at all
Decrease
u 46
$16,251
hazards. The matter will probably be contested in the courts.
The decrease of 46 cents per ton in the cost of mining has
Consolidation Coal —Cumberland & Pennsylvania Bailresulted in a net saving to the company, in last year’s opera¬
road.—The Court of Appeals of Maryland has decided to affirm
tions, of $121,792.
The sales,of land for 1876 were 125,905 acres, at an average the decision of the lower court in the cases of this road and the
price of $2 981- per acre, amounting to $375,540. The total sales Consolidation Coal Company. The Court decides that there is
no sufficient ground for the application for the forfeiture of char¬
to Dec. 31, 1876, were 1,319,848 acres, at an average price of
ter." It decides that the general law of 1876 regulating tolls
$4 32£ per acre, amounting to $5,711,582.
applies only to companies organized under that law or the gen¬
The interest received on contracts was
.'
$412,759
Received on forfeited contracts
1,140 eral law of 1870, and, consequently, does not apply to the Cumber¬
land & Pennsylvania.
Finally, it bolds that the sale of the road
Total proceeds.
$6,125,48$ to the Consolidation Coal Company is void, from want of power
Leas total expenses land department
$721,897
Lesa total taxes paid
4:2,501— 1,151,399 in the railroad company, and consequently that the power to fix
its own tolls conveyed by the Consolidation Company’s charter
Cost of

Cost per

Tons.

Leaving net proceeds

$4,971,033
$10,4(10,000

Whole issue of land grant bonds
Purchased and cancelled to date........

2,996,000

$7,401,000

Outstanding Dec. 31, 1876
Notes and contracts beariog interest
Cash on hand to purchase bonds

$3,182,934
91,201

Total contracts and cash

Leaving to be provided for by fu'ure sales
—And the company has on hand, still unsold,
valuable farming, grazing and mineral lands.




3,277,135

$4,126,864

10,758,134

acres of

has no application in this case.
In the suit of the American Coal Company for an injunction to
restrain the Cumberland & Pennsylvania Railroad from charging

freights on coal higher than those fixed by the special act of
1876, the Court holds that the plaintiff is entitled to relief, and
remands the case to the Circuit Court for action
The decision of the Court makes only a nominal

change in the

ownership of the road, as the Consolidation Company holds all
the stock of the Cumberland & Pennsylvania.
The point rests
in the power to charge tolls, which is no* the same in the char¬
ters of the two companies.—Railroad Gazette.

*

March 10,

THE CHRONICLE

u77j

Delaware & Hudson Canal.—The motion for a receiver of

of Henry R.
week before
After hearing

the Delaware 4c Hudson Canal Company, in the suit
Anderson against the company, was argued this

.

Judge Lawrence in Supreme Court, Chambers.
full arguments and taking time for deliberation, Judge Lawrence
rendered his decision, denying the plaintiff’s motion for_wthe
appointment of a receiver.
Erie.—It is stated in London newspapers that, in accordance
with the wishes of a group of large holders in Liverpool, the
Reconstruction Trustees’ Committee has decided to postpone the
'final date for paying the assessment of four dollars withouffine
till the first of April. The New York Tribune, in regard to the

ayment of the coupon due September 1, 1876,on the first Consol
onds, gives the following order, signed by Judge Charles
Donohue, on February 20, 1877, in the suits of the Farmers’ Loan
and Trust Company and the suit of J. 0. Bancroft Davis. This
order is on one of the printed blanks on which orders in those
suits are generally made, reciting notice to and appearance of
counsel.
“

It is

as

follows

:

227

fund the recognized debt upon a basis of $6,000,000, or at the
of about 33 1-3 per cent, with the understanding that new
bonds should be issued bearing 3 per cent interest for five
years
and 6 per cent thereafter.
This proposition was declined by the
rate

visiting committee, who proposed a basis of $10,000,000, or at the
fifty cents on the dollar. The visiting committee then,
suggested that the subject be referred to a commission to be ap¬
pointed by the Legislature, to consist ot the Governor, Treasurer,
Attorney-General, and two members of each branch of the Legis¬
rate of

lature.

This commission should confer with the

bonds, ascertain if

owners

of the

settlement could be made, and report at the
next session of the Legislature, which proposition was acceded,
to.
The Legislature of North Carolina adjourns now, so that the
a

result of the commission’s work will not come before it, and
unless a special session be called the settlement will be post¬

poned for two
Ohio &

years.

Mississippi*—In the matter of the proceedings to oust

the receivers of the Ohio & Mississippi Railroad, in the United
States Circuit Court at Springfield, Ill., March 4, Judge Drum¬
mond announced the opinion of the Court, to the effect that, while

hereby authorized
provide for the payment of and to pay on the first day of March they granted leave to the trustee to withdraw his answer and file
a demurrer,
they were of the opinion that the bondholders might
next ensuing so many of the interest coupons falling due on the
file a bill to preserve the property from waste, and, therefore,
first day of September, 1876, issued by the defendant, the Erie
inclined to sustain a demurrer to do more than to
Railway Company, under a mortgage of that company of Sept. 1, they were notfiled for future
allow it to be
consideration, and the complainants
1870, as on the said first day of March may be presented for pay¬
asked leave to amend their bill, which was allowed.
ment by or through the said trustees in his petition mentioned,
The main purpose of the hearing was to determine who
and if it should become necessary for the receiver temporarily to
should be receiver.
Without reflection on the character or
obtain a loan for the necessary amount of money for this purpose,
ability of Mr. Torrance, who had been shown in a favorable light
the amount thereof will constitute a lien upon all and sihgular
by the testimony, it was considered desirable by the Court to
the mortgage premises prior to the lien of the mortgage under
His
and in pursuance of which such bonds and coupons were issued.” appoint John King, jr., sole receiver of the property.
appointment was solicited by all the bondholders, representing in
The order is based on two petitions from Hugh J. Jewett.
amount two-thirds of all the issue, and by more than one-half the
These are substantially identical, except that each is in one of
stock.
The objection that he is connected with the Baltimore &
the two foreclosure suits.
These petitions set forth the general
Ohio Railroad and the M. & C. Railroad is not deemed by the
terms of the reconstruction agreement and the progress under it
Court of sufficient weight to prevent his appointment, inasmuch
to date.
as close connection with these companies seems desirable in the
Houston & Texas Central.—It was announced on Thursday interest of the Ohio & Mississippi Road, and his action will be
that this railroad would shortly go into the hands of a receiver. under the close supervision of this Court, and no unjust discrim¬
The Daily Bulletin says in regard to the report: “ At the office ination in favor of these companies can be attempted. Mr. King
of one of the more prominent of the directors of the company, in was, therefore, appointed upon giving a new bond for the sum of
Wall street, it was ascertained that some of the company’s paper $200,000. '
had recently gone to protest in Texas, and that the floating debt
Philadelphia & Reading.—The Money Market Review in
was occasioning trouble.
There had been frequent renewals of London publishes the following: The Philadelphia & Reading
its paper, and other complications oi such a character as to occa¬ Railroad
Company was incorporated in 1833, and nearly every
sion considerable uneasiness to creditors. To look into these, and
year since then there have been from one to four legislative
to ascertain the real condition of the road, the President, Mr.
enactments relating to that company.
The one that prescribes
William E. Dodge, and Mr. John I. Blair, one of the directors, the
liability of stockholders is found in section 5 of the acts of
went to Texas some ten days since.
At that time, however, no 1850, and is as follows:
receivership was in contemplation, but the announcement made
“Sec. 5. The stockholders ef the said company shall be jointly liable as
to day that affairs had taken that course is supposed to be the
partners trading: together in business for all the debts of the company here¬
It is ordered that the receiver be and he is

to

result of their visit.”

contracted, and such debts may be saed for .and recovered in the same
that the debts of partners trading together in business may now be
sued lor aud recovered. Provided that the provisions of this section shall not
apply to bonds which may be issued by such company in lieu of, or in
exchange for, bonds which such company may, um.er existing laws, issue, or
to engagements which said company may, under existing laws, enter into.
And, provided further, that suit shall first be brought against the company

after

manner

Minnesota Bonds.—A bill has passed both branches of the

adjusting the old railroad mortgage debt
against the State, substantially on the basis proposed by Selah
Chamberlin, and referred to in our columns, February 24, page
170. This proposition for adjusting this old debt against the and its assets be exhausted.”
State on this basis will be submitted to the people for their rati¬
St. Louis Iron Monntain & Southern.—Press dispatches
fication on the 12th of June, and as it passed both branches of from St. Louis, March 6, said: “At the annual meeting of the
the Legislature almost unanimously, it is hoped that the popular stockholders of the St. LouU Iron Mountain & Southern Railway,
vote will be recorded in favor of it.
to-day, a dispute arose as to who should vote the 25,000 shares of
stock which were placed in the hands of Baring Brothers of Lon¬
Mobile & Ohio.—The Tribune says that a suit has been begun
don some three years ago by Thomas Allen, President, and Henry
in the courts of this State on behalf of William H. Hays, William
S. Pierson and T. H.Du Puy, against Morris Ketchum, to remove Marquand, Vice-President of the road, to be held in trust by them
as security to English bondholders for defaulted interest.^
Both,
him from the trusteeship of one of the mortgages on the Mobile
parties claimed the right to vote these shares, and pending tha
& Ohio Railroad Company. The complaint sets forth the organi¬
difficulty Samuel G. Ward, of New York, agent of Baring
zation of the company in 1848 and the making of a first mortgage
on it in 1853.
Morris Ketchum, John J. Palmer and William R. Brothers, who is here representing their interest, procured from
the Circuit Court an injunction restraining Messrs. Allen and
Hallett were named as trustees, and Morris Ketchum alone sur¬
vives. In 1862 the Chancellor of Alabama removed Mr. Ketchum Marquand from voting the shares. Subsequently, and while tha
meeting was still in progress, Mr. Allen, through his attorney,
as an alien enemy, and Charles Walsh, of Alabama, George H.
obtained a modification of the injunction, prohibiting the holding
Young, of Mississippi, and Alexander Jackson, of Tennessee, of
any
of any directors until the
were appointed in place of the original trustees.
In April, 1875, further meeting at all or the election served on the parties pres¬
order of the Court. This was
they resigned ; William B. Duncan and Andrew Foster Elliott ent, who at this time were voting, and the meeting was closed at
were appointed, and in May, 1875, began a foreclosure suit as
once.
The matter will be heard on its merits by Judge Gotttrustees of the mortgage in the United States Circuit Court at
sckalk on Thursday or Friday. Meantime the old directors hold
Mobile. That suit is nearly ready for final hearing. There are three
over.
other mortgages upon parts of the road, and the complaint says
St. Paul & Pacific.—Parties to the conflicting interests in the
that the company entered into an agreement that a new first
St. Paul & Pacific lines are reported agreed on the bill passed in
mortgage of $7,000,000 should be executed, the bonds to be issued
at various rates in exchange for outstanding bonds.
The com¬ the House (Minnesota Legislature) February 22, which declares
plaint further states that $6,700,000 of bonds and $700,000 of forfeiture as regards the Brainerd Branch, unless completed May
1878; extends the time for completing the St. Vincent Branch,
coupons have been transferred to the plaintiffs under this agree¬
ment.
It charges that in March,>1876, Morris Ketchum, who for conditioned on buildiug it from Melrose to Sank Centre, before
fifteen years had neglected the performance of all duties as trus¬ July 1,1878, to Alexandria, before July 1, 1879, to Fergus Falls,
tee, began an action in the United States Circuit Court in Mobile and from Crookston to the boundary line before January 1, 1880,
to assert his title.
This aciion, it is alleged, is brought against the and from Fergus Falls to Glyndon before January 1, 1831. The
wishes of a large majority ot bondholders, and with the design Dutch bondholders are expected to build the St. Vincent line,
■of delaying the sale of the property and distribution of the pro¬ and the Northern Pacific Company to build the Brainerd Branch.
ceeds. The plaintiffs ask that Mr. Ketcham be declared to have The St. Paul & Pacific is allowed to build a connection by the St.
Vincent Branch from Breckinridge with the Northern Pacific.
resigned his trusteeship, or be removed therefrom, and be re¬
strained from prosecuting his present suit or other suits, unless The DeGraff Lien law is repealed, 260,000 acres of land between
he consents that plaintiffs b8 joined with him in them; or, if it Crookson and St. Vincent, and 100,000, appertaining to Brainerd
be adjudged that he has not been duly removed, or has not va¬ branch, being reserved to be sold for the payment of Minnesota
cated his office, then that he may be adjudged to have violated creditors.—Chicago Railway Review.
his duty, and that the plaintiffs may recover $500,000 for damages
Southern Minnesota.—The purchasing bondholders met in
done to the property.
St. Paul, Minn., March 3, and organized a new company under tha
Minnesota law. The name of the road will remain unchanged.
North Carolina Debt.—The visiting committee of bondholders
Walkill Talley.—This road is noticed for sale in foreclosure
from this city met a joint committee of the two houses of the
at Kings:on, N. Y., April 26,1877,
North Carolina Legislature, and the latter finally proposed to
State Legislature for




228

THE

$!)

€

c.

o m mc rc

i

a

l $im

OOTTON.

c s.

Friday, P. M.f March 9, 1877.
The Movement of the Crop, as indicated by our telegrams
from the South to-night, is given below.
For the week ending
this evening (March 9), the total receipts have reached 50,742

COMMERCIAL EPITOME.
Friday

Night, March 9, 1877.

’y/ The general state of trade continues to improve—not very

actively
The

conspicuously, it is true, but steadily and surely.

nor

course

of affairs

under

the

new

administration at Wash¬

ington gives satisfaction to the mercantile community, from the
indications which
prove a

afforded that party

politics

are

not likely to

serious disturbance to business enterprises—at least, for

the present.

The spring

anywhere, such
must be
-

are

as prove

opens
a

early, and there

are no

floods

serious obstacle to transportation.

noted, however, that the reduced prices of the

products of agriculture, and the lower

wages

[March 10, 1677. 1

CHRONICLE.

It

leading^

bales, against 68,615 bales last week, 88,068 bales the previous
week,and 120,720 bales three weeks since, making the total receipts

since the 1st of

September, 1876, 3,623,749 bales, against 3,569,522
period of 1875-6, showing an increase since
Sept. 1,1876, of 54,227 bales. The details of the receipts for
this week (as per telegraph) and for the corresponding weeks of
five previous years are as follows :
bales lor the

same

Receipts this week at—

.

New Orleans

1877.
23,860

22,578

3,402

36,643
6,572
3,379

Mobile

3,673

Charleston

90

t95

233

3,259

4 473

Galveston

5,513

7,642

6,760
6,925

10,625
6,219

26

262

213

473

5,617

3,853

6,052

488

116

164

1,207

2,296

2,384

Norfolk

5,925

7,018

682

431

£0,742

76.380

Indianola, Ac

the

Tennessee, Ac

ability of the community to purchase, and in making esti¬

Trade in

sight of.

provisions has been notable for the sharp decline that

has occurred in pork and lard, with general weakness in other

hog products.
the spot,

To-day,

mess

pork

prime Western

on

$10 for June.
is

more

7£c.

$9 75 for April, $9 85 for May, and
a

City Point, Ac
Total this week

Lard declined to $9 75(3)9 80

Bacon is also lower, with

Florida

on

the spot and this month’s delivery, and

sold for the later months at

clear at

quoted at $15(3)15 25

and sold for future delivery at $15@15 10 for May and

quoted at $15 05(3)15 15 for June.
for

was

sale of Western long

Beef favors buyers.

1872.

41,370
5,112
l

23,656
2,493

K GO'S

....

7,587
V

Q >401

5,456

o,4»i

•|OOw

7,780

3,547

5,953

95

108

663

1,193

5,624

1,077
12,437

9,431

1,417
3,887

416

422

621

197

60,282

82,273

83,433

50,063

r

Total since Sept. 1.... 3,623,749 3,569,522 3,052,782 3,228,937 2,880,323 2,292,827

The exports for the week ending this evening reach a total of
40,604 bales, of which 32,179 were to Great Britain, 6,828 to
France, and 1,597 to rest of the Continent, while the stocks as
made up this evening are now 859,097 bales.
Below are the
stocks and exports for the week, and also for the
corresponding
week of last

supply, and firm at 13@16£c.

season:

Butter at the rec?nt decline

Cheese in limited

active.

29, C2
4,688
9,420

4,709
4,224

Port Royal, Ac
Savannah

artizans, and working people generally, have greatly impaired

1873.

1874.

North Carolina

paid to mechanics

mates for the future this fact should not be lost

1815.

1876.

Exported to

Total

March 9.

Great

France

Conti¬

Stock.

Same

this

Week ending

week

1877.
1876.
week.
1876.
Britain.
Stearine sold at 10^c. for prime.
Tallow is higher
nent.
at 8c. for prime.
New Orleans*,..
100
12,569
4,846
17,515
52,929 308,974 323,412
Kentucky tobacco has been in moderate demandat rather firmer Mobile
540
7,654
1,162
11,315 63,860 53,092
9,556
820
455
prices. Sales for the week, 700 hhds., of which 600 for consump¬ Charleston
5,407 36,697 26,079
1,265
492
4,794
7,951 41,897 41,315
tion and 100 for export. Lugs are quoted at 5@7^c.; leaf is Savannah
5,286
Galvestont
7,995 69,659 48,145
quoted at 8@16c. There has been less doing in seed leaf, but New York
5,236
4,043 280,353 175,524
5,286
prices were steady and the transactions to a fair extent; 200 cases Norfolk.
.r..
4,632
9,627 13,850
sundries, 4@30c.; 400 do. New England, crop of 1875, 8, 9, 11, 15, other ports}:
1,676
3,737 48,000 48,000
1,676
17, 22}, and 25c.; 159 olo. Pennsylvania, crop of 1875,8, 14,16@ Total this week..
6,123
32,179
1,597
9.8,035 859,097 734,425
40,604
22c.; 60 do. Wisconsin and Ohio, crop of 1875, 4c ; 46 do. Wis¬ Total since
Sept. 1 1,634,155 339.523 285,913 2,259,591 2.314,855
consin, crop of 1875, 6c.; and 60 do. Ohio, crop of 1874-5, 7c.
New Orleans.—Out telegram to-night from New Orleans snows that (besides
Spanish tobacco was more active, and the sales were 600 bales above exports) the amount of cotton on shipboard and engaged for shipment at
that port is as follows: For
Liverpool, 34,750 bales; for Havre, 25,750 bales; fop
Continent, no bales; for coastwise ports, 18,000 bales; which, if deducted from
Havana, at 80c.@$l 10.
the stock, would leave 235,500 bales,
representing the quantity at the landing and in
There has been quite a fair movement in coffees, especially
presses unsold or awaiting orders.
t Galoeston.—Our Galveston telegram shows (besides above exports) on ship¬
Brazil grades, and holders have readily retained steady
prices ; board at that port, not cleared: For Liverpool, 11,708 bales; for other foreign,
the supply last evening here was 17,603 bags. In molasses or 1,030 bales; for coastwise ports, 1,658 bales; which, if deducted from the stock,
would leave remaining 55,273 bales.
X The exports this week under the head of “other ports” include from BostOD,.
rice nothing but the usual jobbing trade has been done. Under
1,176 bales to Liverpool; from Philadelphia, 500 bales to Liverpool.
a continued dulness in raw
From the foregoing statement it will be seen
sugars, prices have declined and show
tbat, compared
easiness. To-day, coffees were dull and unchanged; only 1,500 with the corresponding week of Iasi season, there is a decrease
in the exports this week of 57,401
bales, while the stocks to-night
bags Rio sold; the quoted range was 17@22c.; Java, 23@24e.; are
124,672 bales more than they were at this time a year ago,.
Maracaibo,^18J(320c., all gold. Molasses quiet; 50-test Cuba The following is our usual table showing the movement of cotton
refining, 40@41c.; New Orleans, 38@5Gc. Rice in jobbing de¬ at all the ports from Sept. 1 to March 2, the latest mail dates;
mand; domestic, 4|@6fc, currency; Rangoon, 3^c., gold, in
RECEIPTS
EXPORTED SINCE SEPT. 1 TO—
Coastbond. Raw sugars dull and weak at 9@9£c. for fair to good re¬
SINCE SEPT. 1.
PORTS.
wise
Stock
Great
Other
France
Total. Ports.
fining Cuba, and 9|@10|c. for centrifugal. Refined in some de
1876.
1875.
Britain
forei’n
mand at 10i@llc. for^'A,” and ll^@ll£c. for hards.
N. Orleans. 1,031,740 1,150,363 491,616 231,259 101,562 826,437 104,723 303,954
In ocean freights a very fair business has been
effected, and all
331,959 326,184 101,075 14,406 34,304 152,785 114.654 7^,884
Mobile
rates show en improvement and more steadiness,
especially on Chari esi’n * 442,291 371,587 199,665 39,935 60,436 300,146 92,381 35,274
berth room; petroleum vessels have moved quite freely. Late Savannah
411,507 476,545 202,521 14,742 31,115 218,381 112,638
45,185
engagements and charters—Grain to Liverpool, by steam, 5±d.; Galveston*. 473,389 416,834 166,709 22,250 22,417 211,376 199,4?5 70,880
287,372
provisions, 25@31s.; grain, by sail, 4£d.; oil cake, 12s. 6d.; grain New York.. 112,502 156,301 235,305 5,440 13,660 254,905
Florida
19,282
19,282
11,359
to London, by sail, 5d.; hops, by steam, fd.;
grain to Glas N. Carolina 115,765 85,350 21,310 1,011 10,606 32,9:7 78.103
4,835
gow, by steam, 5d.; do. to Cork, for orders. 4s. 7-Jd.; refined Norfolk*
494,339 417,647 104,324
12,200
1,602 1,221 107,147 375,473
petroleum to Bremen, 3s. 4£d. ; do. to Plymouth, 4s. 4^d.; do. to Other ports 107,183 78,907 75,945
35,500
8,935 64,880
Trieste, 5s. 6d.; crude do. to Havre or Dunkirk, 3s. lid.; cases to Tot. thisyr. 3,573,037
1601,976 332,695 284,316 2218,987 1096,739 872,084
Java, by steamer, 50c., and by sailing vessel, 35@37|c.; do. to
Tot. last yr.
3,491,142 1413,301 295,271 532,275?2246,850 1013,847 778,522
Palermo, 26fc., gold. To-day, business was quiet, but firm rates
Under the head of Cfiariet>ion is included Port Royal, <fco.; under the head of
Galveston
ruled; grain to Liverpool, by steam, 5@5£@5^d.; do. to London, Point. Ac. is included Indiano.a,&c.; under the head of Norfolk is included City
by sail, 5d.; hops, by steam, |d.; refined petroleum to
These mail returns do not correspond precisely with the total of
Trieste, 5s. 9d,; naphtha from Philadelphia to United Kingdom, the telegraphic figures, because in preparing them it is
always
4s. 9d.; grain to Cork for orders, 5s. per qr.
necessary to incorporate everv correction made at the ports.
We have had a very feverish and unsettled market the past
In naval stores a very fair business has been done, and quota¬
week.
Cotton on the spot has sold rather more freely—the
tions have Advanced and close very firm at 41c. for spirits tur business for consumption
having been supplemented by moderate
•pentine, and $2 10(5)2 20 for common to good strained rosin. In transactions for export and speculation—and yet the whole havQ
petroleum there has latterly been a pretty quiet state of affairs not been sufficient to swell the sales to any important aggregate.
and quotations show some easiness; crude, in bulk, 10^c., and Quotations were on Saturday last reduced 1 -16c.; this decline
was recovered on Tuesday, to be again lost on
Wednesday, foL
refined, in bbls., 15£c. Ingot copper steady with 300,000 lbs. sold lowed by a decline of l-16c. yesterday and
^c. to*day, reducing
at 194@19fc.
Seeds are dull, and whiskey|unsettled(.
quotations to the basis of 12£c. for Middling Upl&ads. For future

for

factory.




'

....

•

....

•

•

•

•

•

•

•

•

....

•

•

•

•

•

•

«

....

....

....

*

..

•

....

•

•

.

....

•

•

.

.

•

••.

..

....

*

...

•

•

•

10, 1877.]

THE CHRONICLE.

‘delivery, the market has continued active, with frequent and
extreme variation of prices.
Thus on Monday it opened at
igome decline, and the lowest sales were for the active months
9(®li points under the closing prices of Saturday ; but the small
receipts at all points brought out buyers in force, causing a
•demand to cover contracts, and the closing prices were from 14
to 17 points higher than Saturday, a fluctuation of about ^c.
Tuesday was a repetition of Monday, though the range of prices
was not so great.
The opening was weak under sales to realize,
and prices fell off 3@5 points, but the decline was soon
recovered, and the close was 2 to 6 points higher than Monday.
On Wednesday, the accounts from Liverpool were disappointing.
That market did not respond, as it was expected it would, to the
falling off in the receipts at our ports, and there was a decline in
the closing prices of 17 to 20 points, and the lowest figures of
the day were 20@23 points lower. Yesterday, the decline con
tinued, the market having apparently little support from any
quarter. To-day, there was an irregular decline, but a steadier
closing.
The total sales for forward delivery for the week are 416,500
bales, including
free on board. For immediate delivery the
total sales foot up this week 3,891 bales, including 200 forexport, 2,797 for consumption, 897 for speculation, and
in
transit.
Of the above,
bales were to arrive. The following
tables show the official quotations and sales for each day of the
past week:

hale*.

cts.

1/GO
MX)

lit!

003.2
UPLANDS.

New Classification.

Ordinary
V fl>.
Strict Ordinary
Good Ordinary
Strict Good Oid’ry.
Low Middling
Strict Low Mitidl’g
Middling
Good Middling
Strict Good Middl’g
Middling Fair
Fair

|n. ORLEANS.!

ALABAMA.

Mon. Sat. Mon. Sat. Mon.
Mar. 3. Mar, 5. Mar. 3 Mar. 5 Mar. 3. Mar. 5.

10* '
C%
US
11*

11%
U%
11*

11 15-16
12 3-16
12 7-16
!2 11-16
12 15-16
13 5-16
14 1-16

11
12
12
12
:2
13
14

10*

!1 %

a*

15-16
3-16
7-16
ll-'G
15-16
5-16
l- 6

10%

11%
il*
ll*

10*
11%

10*

H%
U%
a%

3-16
7-16
11-16
15-16
5-'6
1-16

12
:2
12
12
13

12
7-16 12
11-16 12
15-16 13
5-16 13
14 1-16 14

3rl6

...

Middling
Good

12
12
12
13
14

12*
12*

Middling

Strict Good Middl’g 13

Middling Fair

13%
14%

Fair

Th.

7-16 li*
11-16 2*
15-16 3
5-16 13%
l-’,6 '4%

ir.

10 15-16
11 5-16
11 11-16
a 15-16

'.1%
U%
ll*
a

H%
l’.%
11%

U*
11%
11%

1-16
5-16
9-16
13-16
1-16
7-16
14 3-’6

12
12
12
2
13
13
L4

12
12
12
12
13
13
14

12
12
12
12
13
13

12%

Middling Fair

•3%

Fair

‘4

13-16

1-16
7-16
3-16

11%
a%
n%
12 i-6

10
11
ll
11

FrI.

Tit.

FrI.

Th.

9. Mar. 8. Mar. 9. Mar. 8. Mar. 9. Mar. 8. Mar. 9.

12%
'2%
12%

13%
13%

:4

13%
14%

>

12*
12%

12*

13%

13

12*

10 13-16 10 11-16
11 3-16 11 1-16
11 9-16 11 7-16
11 13-16 a a-16
12
11%

12%
12%
12%

12*
2%

12%
12*

13%

12%
12*
!2*
13%
13%

Good Middling..... »2%
Strict Good Middl’g 12%

1-16
5-16
9-16

15-16 ’■0%
5-.6 11%
11-16 11%
15-16 11%
12 1-16
12%
12 5-16
12 5-16 u%
12 9-16
2 9-16 12%
12 13-16
12 13-16 .2%
13 1-16
13 1-16
3%
13 7-16
13 7-16 13*
14 3-16
14 3-16 14*

10%

Ordinary
n>. 10 11-16 10 9-16 10 11-16 !0 5-16 10 :3-16 10 11-16
1 1-16
Strict Ordinary
11 1-16 10 15-16 11 1-16 W 15-16 It 3-16
Good Ordinary..... 11 7-16 11 5-16 11 7-16 11 5-16 11 9-16 a 7-16
Strict Good Ord’ry. 11 11-16 11 9-16 a U-.6 11 9-16 11 13-16 a ii-i6
Low Middling
12
11%
11%
ll*
a*
11%
Strict Low Middl’g 12%
12
12
12%
12*
12%
Middling

1-16
5 -16
9-16
13-16
1-16
7-16
3-16

13%
14%

13

:4

12%
12%
12%
12%
13%
14

STAINED.

Sat.

Mon. Tues Wed.

FrI.

Th.

Mar. 3. Mar. 5. Mar. 6. Mar. 7. Mar. 8. Mar. 9

Good Ordinary
Strict Good Ordinary
Low Middling,

10%

Middling

10 7-16
ll 1-16

10%

a

a
a 5-te

U%

a 13-16 11 13-16 11%

10 5 16
0%
11 15-16
il
:: 5-16 11%
r 13-6 11*

10 3-16
10 13-16

11%
11%

MARKET AND SALES.
SALES OP SPOT AND

Spot Market
Ex¬

Closed.

port.

ConSpecsump. ulat’n

.

Tuesdav

.

Firm, higher.

oat

Wednesday Quiet, lower
Thursday.. Dull, lower

Friday

....

200

Quiet, lower

Total

200

Tran¬
Total.
sit.

551
....

225
IO*

Deliv¬

Sales.

eries

162

7,300

500

1,191

....

57,800
68,800

•

•

•

84,300

400
600
600

650
639
322
930

•

....

....

82,900
65,400

3,891

897

1,300

4,6 >0

416,500

For forward delivery the sales (including —— free on board),
have reached during the woek 416,500 bales (all middling or on
the basis of middling), and the following is a statement of
sales and prises:

the

bales.
For March.
cts.
bales.
100 s n. 13.h .12 23
.12*25
2oO
160 s.n 9th. .12-28
.12* :4
100
.12-36
50U
.12-37
2(0
,12-33
290
100 s.n. 6th. .12-38
IOC s.n. 6th. .12-43
.1243
100
100 s.c. 6th 12- .5
.12 46
2 4)
12-46
100 s.n
.12-47
000
12 5)
10)

203

.12-52

100
100

1258
.12 60

3100 total March.

3,300
1.500
2 0
900

6,70)

....

3,200

2,2 Hj

....

309
1,700..
4,"00
2.9(0
1,109
5,ICO
5,5(0
1.50)
1 100

...

...

..
....

.

....

1,609
1,100
509

5,903
1.000

8,303
3.100

For April

1,200

1,600

....

900

1,300
800
2ro

....

...

1,300...,.

(||If
•

# •

•

•




12-33
.1.-34
.12-35
12 36
.12-37

.12-38
.12-40

2,5C0
4,300
4.200
3.600.

....

...

2,809
4,200

2,6(0..*..
6)9

.

Ct15.
12-41
12-4*
12-43
12-44
12-45
12-45
12-47
12 45
12-19
12-50
12-5L
12-52
12T3

...12-54
12-55
12* )6
1.-57
12-5 5
12-59
1.-6)
12-81
12*62
12 63
12-64
12 85
12 66
12 67
12-68
12 69
...52-70

cts.

bales.
-600
2 4 X)
3 5)0.

1271
...12-73
12 74
...12-75
...11-76

..

...

3.3)0

ba’es.
200

cts.
...12-63

...12-89
2,500
...12-70
9,50)
2,400........ ...12-71

3,609

*7

8,300

...12-12
...1.-73

...12-7S
...12- 9
...12-80
...12-31

409
3(0
890
100
303
500

5,7*0

...12-74

in.
♦•.iv

*4

5,500
1,390

111,400 total April.
For May.
...12-51
5,300
...11-52
3.899
.12- 3
4,300
....12-54
1.200
.12-55
4.9C0 .. ..
...12.56
400
..12"57
890
2(0
....11-53
200
....12-59
..

.

.

5)0...

2. too

1,19.)
3,-00
3,000
9)0
490

....

....12-60
...U-61
...12-62

....1C-63
....12-61
....12-85
....1.-63

9 jQ

.12" <5
...12-76
...12-77

5/00

4,199

1.800

12-68

5 0

12"7<»

6UC
800
1 200
200
1.U0»

For July.
100
12.73
4X1
12-75
207)
12-77
500
12 89
£0)
.12-81

12-69

l.'OO

200
700
600
100.
100

12*71
12- 72
12-73
12-74
12-75
12-76

20)

500
5CU
210

1285

200

t2-4l

12 37

mn

i i.sft

12*57
12-58
12*65

12 15

500
300
100
100
100

12 96

iinn

15*7»»

12-92
12-93

900
SO)

12-94

1,61V
ion

700
100.....

13* Cl
1 •'( 2
133

700
SCO
9'H)

la (6
13 07
13 0i

li-77
12-78

1.500

5(H)

1 v 79

1,900

12-97
12-32

900
1,200
1,600
2,; 00

12-8)

2,L0

12*93

1,300
1/0)

1,S00

IJJ-OJ

500

100
400

13-01
13-02

500
50)

13-21
13 25

1 500

1,500

...13-03

1.80)
2 000

12- S9
12-9)
li-92
12-93

1,100

13-27

1,70)
1,7(0
2.190

1 -04
12- 6
12-36

400

13-05
B- 6
13-07
13.08

600

12-97

12-38

111)

i 60

12-749

1.000
2.700
1,400

18-00
13*01
1312
13 (3

500
lUO
4)0.
4(0
300

13 04
13*05
1306

2,400
l.i 0)

13*07
13 08

For November.
12-19
200
800
12.20
100
12-21
100
12*25
2( 0
12*32
800
12-40
6 0
12*41
K-85
500

13 ll

12-34
12-35
12-8S
12-37
U-*8

1-2*94
12.'5
12-96
12-97
12-93

1.100

1/00
2,000
1.500
2.300
4,400

9(H)
200
700
800
1)0

2.800 total Oct.

13 T9
la'll

12-31

12-32
12-33

2if

409

The
43
13

...

7C0
500
ICO

1,100

13-09

200
5C0

1,(00
7; 0

.

13-16
13 !7
18 la

,

20)
.

For

...

12-54
12M5
12-62
12-68
12-72
12-74
12 71
1283

MO

103
ICO

13-2)

800
40)

13-22

13-25

........

12 34

200
2 )0
l'JO

20,400 total July.
August.
12-79

12-33
12 9 i
12»9

8,700 total Dec.

3,200 total Sept.

12-80

1,100

For December.
600
12-15
12-16
5 JO
300
12*20
500
12-SO
200
...12-86
100
12*83
12-39
1)C
tOO
12-40
800
12*41
200
12*48
100
W-44
100
12-53
103
12-54
100
12-55
200
12*57

September.

400
200
l'JO

l,0i 0

13 09

2,300 total NOV.

1S-2U

...

22,300 total Aug.

13-10
IS-14
13-15
13-13
...13-19

For
500

.

13-13

500

|

...li*'i8

following exchanges have been made during the week:

pd.to exch. 500 April for July.
pd. to exch. 200 Ma_ch e. n. for April,

The
future

following will show the closing market and prices bid for
delivery, at the several dates named :
UPLANDS—AMERICAN CLASSIFICATION.
Thurs.
Tues.
Wed.
Mon.
Firm,
Steady,
Steady,
Steady, Firm.
lower.
lower.
1 Jtver.
higher,
higher.
12-62
1243
12.26
12 57
12 43

MIDDLING

Fr«

Market clc seJ

Sat.

Steady,
lower.

March

April
May.......
June

....

....
....

July.

....

Xugust....

....

September
October...
November.

....

Gold

Exchange.

..

.

December.

...

.

.

..

12-66
12-86
13-00
13-10

-

13 15
12*39
12-59
12*43
12-13

12-57

12-51
12.10
12-10

l"4%
4.81%

104%
4.;l%

12-31

12-59
105

4.e2%

13*09

12-HO
13*00
13-15
13-2)
13-29
13-06
12-71
12-5)

104 V

12-91
13 01

.

3,5)0
5,300
6,590
9,200
2,9)0.
7.19C
4.S'. 0

4,5 0
990
1.800

2,290
2,6'H)

..12-83
...12-84
...12-85
...12-86
...12-87
...12-33
...12-39
.12-99
.12-91
...12 92
.

.

.

.12 93

2.200

...12 95
...12-96
...12 97

1,8)0

,,,13 93

4.40)

2,900

FrI.

Steal**,
lower.

12*60
12-79
12-93
13-03
13*07
12*33
12-56
1212
1242

12-75
12-95
13* It
13-22
13-16
13*0i)
12*70
12-57

12-t0
12-79

4.62^

12-40
12*59
12-72
12*82
12*S6
12*65
12-39
12-25
12-25

12*18
12*32
12*50
12-64
12*74
12*79
12*54
12*28
1214
1214

1(5%
4.1-2*

K»%
4.82*

ts&

by cable and
telegraph, is as follows. The continental stocks are the figures
of last Saturday, but the totals for Great Britain and the afloat
for the Continent are this week's returns, and consequently
brought down to Thursday € vening,* hence, to make the totals the
complete figures for to night (Mch, 9), .we add the item of exports
from the United States, including in it the exports of Friday
Thk Visible Supply op Cotton, as made up

only:

1875.

1874.

Stock at Liverpool
Stock at London

937,000
33,2.10

849,000

58,253

734,000
114,000

738,000

Total Great Britain stock
Stock at Havre
Stock at Marseilles
Stock at Barcelona
Stock at Hamburg
Stock at Bremen
Stock at Amsterdam
Stock at Rotterdam
Stock at Antwerp....
Stock at other continental ports..

970,250
154,750
3..'00
58.000

907,253
225,503
4,750
93,000

848,000
102.750
9,250
75,250

922,750
144,250
12.500
53,250

1877.

13.000

1876.

19.000

6,750
11,750

13,2o0
1 4,250

6,500
13.000

17,i50
30*000

369,750

516,500

303,500

1,310,000

1,423,759
134,000

1,151,500

405,000
1,327,750

64,000
10,000

Total European stocks

168,000
632,000

India cotton afloat for Europe
American cotton afloat for Europe

40,000

Egypt, Brazil, &c.,afloat for E’rope

859,097
99.795

Stock in United States ports
Stock in U. S. interior ports

•>

*1'?™

71,000

4*1,000

734,334
103.357

734,425
124.135

£9,000

.baies.3,140,892

3,082.310

10»000
3,000,131

.

486,000

421,000

Liveruoofetock

627,000

Contmen tal stocks.......
American afloat to Europe
United States stock

327,000
^03,000

591,000

2,000

to-day......

Total visible supply..

££.000

31,750

Total continental ports

CTni ted States exports

184,750

45,000
45,0 0

48,000

88£000

632,000

_

United States interior stocas
United States exports co-day

...

.

99,i9o

2,0C0

.

.12-79
7.(0)
...12-30
9,200
5,690........ ...12-31
9 4 )0
.12-82

U'U
12*84

la-.m

100

1,800

500

.n

too
200. •••••••»• .12)32

12 90

1.3(0
1,700

12 82
12*33
12 33
12 86
12m»
12-33
12-90

30)
4)0.

bMa».

12-81
12 85

1,200

....

.

2,797

FUTURES.

TRANSIT.

21

141
640
650
414
322
630

Saturday.. Dull, lower...
Monday..
Firm, unchanged.

12-68
12-67

„

5-16 12%
3-16 12%
7-16 '2%
ll-lo 12%
15-16 13%
5-16 t3%
1-16 ’14%

FrI.

Th.

FrL.

Mar. 8. M

10*

12
12
2
12
13
14

5-’6
9-16
13-16
1-16
7-16
3-16

10%

Tues Wed. Tues Wed.
Mar. 6. Mar. 7. Mar. 6. Mar 7.

Taes Wed. Tues Wed
Mar. 6. Mar. 7. Mar. 6. Mar. 7
10 13-16
Ordinary
$ n>. 10 13-16 10*
Strict Ordinary.
a 3-:6
11 3-16 11%
Good Ordinary
a 9-i6
11 9-16 11*
Strict Good Ord'ry. :1 13-16 11*
a 13-16
Low Middling....
12
11 15-16 .2
Strict Low Middl’g 12*
12 3-16 12%

Mar. 3. Mar. 5.

10%

200
2.209

1,300..

68,400 total Jane.

12-65

For OetoWr.

ott-

14*91
13 82
16*83

990
400
LOO

Mon.

10%
11%
H%
11%

a i5-t6 a 15-16 :2 :-16

12
12
12
12
13
14

Sat.

For June.
200
12*84

1,900

1311
13*14
...13 15

800

1,300

7

ia-»o

rOO....
100

180,400 total May.

balea.
109
800

Ct«.

l/oo.....

3,800

TEXAS.

Sat.

UftlM.

1300

,

March

Total American
bales.2,505,892
East Indian, Brazil, dbc.—

80>C<M
123,139

10,000
3,050,909
346,000

29,0u0

^o
1Q»Q00

208.000
iSmm
ISiS
~0»900

2,254,565

2,003,691

2,003,159

290.000
^**0^0
oM®1£4J3o

129,000

003.^.uO

.

im'nw
nou

nm

n

3}0,000
33(2o0

Liverpool stock....
TjHiidoii stock

Continental stocks
India afloat for Europe.....

Egypt, Brazil, &c.,afloat
Total East India,
Total American

&c

83,750

i08.000

40,000

6jj5*O03

2,EOo,8)2

Total visible supply—bales 3,110,892
Price Middling Uplands, Liverp’l. 6 9-16d.

5bt250

H4t030

I84fi5u

?o^onn
13J.000
46,000

^I'nou

^’ooo

-,204,561)

3,082.310
<>^d.

?LQQQ

rm’fioi
2,001,691
3,000491
o

.

.^d.

60,000

15?
2,003,155
eno*

7%@8d.

the cotton in sight to-night
of 58,582 bales as compared with the same date of 1876, in
increase of 140,701 bales as compared with the corresponding
date of 1875,. and an increase of 80,983 balea aa compared
These figures

with 1874.

indicate an increase in

THE CHRONICLE

230
tt"

:

.—

-■

=

.

.

(March 10, 1S77.

;

.

At the Interior Ports the movement—that is the
and shipments for the week and stock to-night, and

Atlanta, Georgia.—It has rained steadily one day this week
for the and has been showery one day, the rainfall reaching two and
corresponding week of 1875—is set out in detail in the following thirty-one hundredths inches. The thermometer has averaged
48, the highest being 60 and the lowest 30. The rainfall for the
statement:
month of February was two and sixteen hundredths inches.
Week ending Mch. 9, 1877. Weekending Mch. 10, 1876.
Columbus, Georgia.—There has been rain on two days this
Receipts. Shipments. Stock. Receipts. Shipments. Stock. week, and a rainfall of one inch and eighteen hundredths. The
thermometer has averaged 51.
1,671
1,829
2,273
12,573
Augusta, Oa
3,105
12,504
Savannah, Georgia.—We have had rain on four days this week,
330
121
303
919
9,183
Columbus, Ga. ^....
6,744
285
435
434
533
4,912
Macon, Ga
5,038 the rainfall reaching one inch and forty-six hundredths, but the
293
454
922
4,916
1,783
Montgomery, Ala
7,110 remaining three days have been pleasant.
The thermometer has
265
536
Selma. Ala
3,320
1,289
1,405
7,188
ranged from 37 to 76, averaging 58.
57,263
5,052
4,537
15,810
10,904
Memphis, Tenn
76,168
678
828
1,031
7,568
Augusta, Georgia.—We have had heavy rain the early part of
1,081
Nashville, Tenn...
7,383
the week on two days, to a depth of two and thirty-four hun¬
8.575
20,977
9,855 99,795
19,738 124,135 dredths inches
Total, old ports
; bnt the latter part has been clear and pleasant.
181
360
410
135
197
826
Average thermometer, 56; highest, 76, and lowest, 35.
Dallas, Texas
receipts

..

Jefferson, Tex
Shreveport, La
Vicksburg, Mlss.<?^
Columbus, Miss....
Eufaula, Ala
Griffin, Ga

1,40)
2,245
2,000

1,973
2,602

6,90)

596

6J7

3,936

2,332

2,050

5,934

66
150
37
297
199
615

4,QUO
2,008

2,049
5,162

32,724

St. Louis, Mo

3,935

183
410
33
429
394
302
3.476

Cincinnati, O

4 211

5,851

Total, new ports

15,336

17,943

Total, all

23,911

Atlanta, Ga

Rome, Ga

Charlotte, N.C

2,110
476

2,822

18)
245
29
247
2 9
741

172
427
152
448
390

5,080
5,651
8,364
1.764

2,FOG
763

7.648

11,898

5,469
5,319

3,981
1,507
1,130
25,096

6,221

21,505

23,875

70,330

42,482

43,613

194.465

stocks

have

Average thermometer, 57; highest 74 and lowest 39.
The following statement we have also received by telegraph,
showing the height of the rivers at the points named at 3 o’clock
March 8.
We give last year’s figures (March 9, 1876,) for com¬
parison:

13,3)2

69,496

Charleston, Sov.th Carolina.—It lias been showery two days of
week, with a rainfall of one inch and eighty-one hundredths.

the

1,025
1,167

402

New Orleans.. Below

The,above

169,291

totals show that the old

interior

decreased during the week 1,280 bales, and are to-night 24,340
bales less than at the same period last year.
The receipts at the
same towns have been 12,402 bales less than the same week last
year.
Weatiier Reports by Telegraph.—Crop preparations have
been somewhat interfered with, a portion of the past week,
by the

rain, and at some points by the cold. Work, however, is well
advanced, and the feeling generally is hopeful.
Galveston, Texas.—We have had only a shower on one day this
week, the rainfall reaching seventeen hundredths of an inch.
The thermometer has averaged 60, the highest
being 70 and the
lowest 4G.
Some corn and cotton are already above
ground in
the coast belt.

'

high-water mark
Above low-water mark

Nashville

27,798

Memphis

Above low-water mark

,

r-M’cli 9, ’76.-*
Feet.
Insb.

r-M’ch 8, ’77—*
Inch.
Feet.
4
11
11
Z
18
18

8hreveport. ...Abovelow-water mark

4
17

3
0
11

9
9
u

1
6
4
2
1

»*r

4

lb
42

Vicksburg.... Above low-water mark....
Missing.
New Orleans reported below high-water mark

of 1871 until

Sept. 9, 1874, when the zero of gauge was changed to high-water
mark of April 15 and 16, 1874, which is 6-10ths of a foot above
1871,

or

16 feet above low-water mark at that point.

Shipments.—According to ourcable despatch received
to-day, there have been 7,000 bales shipped from Bombay to Great
Britain the past week, and 6,000 bales to the Continent; while
the receipts at Bombay during this week have been 33,000 bales.
The movement since the 1st of January is as follows. These are
Bombay

the figures of W.
down to Thursday,

Nicol & Co., of Bombay, and are brought
March 8 :
/—Receipts.—,

/-Shipments this week-*
Great
Con-

/-Shipmentssince Jan.l-*

Total.

Total,

.r

Britain,

tlnent.

Great
Britain,

1877

Contlnent.

90,000

75.000

16 %000

Since
Jan, 1.

This '
week.

33,000

234,000

7,COO
6,000
13,000
Indianola,Texas.—It has rained slightly on one day of the 1876
82,000
65.000
147,000
35,000
216,000
17,00 )
5,000
22,000
week, the rainfall reaching five hundredths of an inch. Average 1875
208.000 108,000
316,000
56.000
416,000
26,000
32,000
58,000
thermometer 00; highest 72 and lowest 40.
Good progress is
From the foregoing it would appear that, compared with last
being made in planting.
year, there is a decrease of 9,000 bales this year in the week’s
Corsicana, Texas.—We have had rain on one day this week, shipments frpm Bombay to Europe, and that the total movement
and snow to a depth of half an inch.
There has been a killing since January 1 shows an increase in shipments of 18,000 bales,
frost here one night.
Average thermometer 51; highest 76 and compared witn the corresponding period of 1876.
lowest 34. ’The rainfall is sixty-seven hundredths of an inch.
Gunny Bags, Bagging, &c.—Bagging has ruled quiet during
Dallas, Texas.—There has been rain cn one day this week, and
the past week, and there have been but few small sales, in all
we have had half an inch of snow.
There lias been a killing
about 1,500 bales, at 12£c. cash.
Butts have ruled rather more
frost on one night.
Average thermometer 50; highest 62 and in buyers’ favor during the week, owing to a slow demand with
lowest 24.
The rainfall is eiglity-eiglit hundredths of an inch.
free arrivals, and manufacturers showing a readiness to real¬
Cold weather is retarding
planting. No serious damage has been ize on part of their purchases made to arrive, and the
done by grasshoppers.
market ia a shade easier.
The demand is small, however, and
New Orleans, Louisiana.—There has been a
rainfall, on two spot lots are not being taken to imy great extent. About 60(1
days, of twenty-six hundredths of au inch. The thermometer bales have been taken at
3£@3|c, and the same figure is quoted
has averaged 56.
in Boston.
To arrive, 2,000 bales were taken at a private figure.
Shreveport, Louisiana.—The early part of the week was favor¬ Calcutta market still rules
very firm, and last cables report butts
able to planters, hut the character of the latter
part tends to in light supply there.
retard progress ; too much rain for work.
The thermometer
has ranged from 31 to 78,
Liverpool, Mch. 9^-12:30
averaging 54. The rainfall is one pool.—Estimated sales of theP. M.—By Cable prom Liver¬
inch and seven hundredths.
day were 8,000 bales, of which
Vicksburg, Mississippi.—The weather this week has been too 500 bales were for export and speculation. The weekly move¬
cold.
It has rained on three
days, the rainfall aggregating one ment is given as follows :
Feb. 16.
Feb. 23.
Mch. 2.
Mch. 0,

inch and fifteen hundredths.
4 and lowest 32.

Columbus,

Average thermometer 53, highest

.....

Mississippi.—Tlie weather during -the week has

ruled pleasant, with occasional showers the latter
part,
fall reaching sixty hundredths of an inch.
next crop are

the rain¬
Preparations for the

progressing.

...

Little Rock, Arkansas.—The week just closed has had the
characteristics of March weather, with rain on
Thursday and
closing with a cold north wind and a slight freeze. Average
thermometer during the week 50, highest 78 and lowest 24.
The rainfall is ninety-five hundredths of an inch.
Nashville, Tennessee.—It has rained on five days this week, the
rainfall reaching one inch and sixty-two hundredths.
The ther¬
mometer has ranged from 34 to 56,
averaging 45.
Memphis, Tennessee.—There has been rain this week on two

days, the rainfall reaching one inch and eleven hundredths.
The thermometer has averaged 47, the
extremes beiDg 29 and 69.
Mobile, Alabama.—We have had, this week, a rainstorm on
one day and on one
day it was showery, the rainfall for the week
twenty-eight hundredths of an inch. Average ther¬
mometer 56, highest 72 and lowest 36.
Montgomery, Alabama.—It has rained severely on three days
this week, the rainfall reaching two and
thirty-five hundredths
inches. The thermometer has averaged 54, the highest
being
71 and the lowest 32.

Ice formed here this week.

Selma, Alabama.—It has rained heavily

and is

now

clear and cold.

on two

days this week

Madison, Florida.—It lias rained on one day and we have had
an unusually severe
storm, the rainfall reaching eiglity-five
hundredths of an inch, but as the week closes there lias been a
favorable change in the weather.
The thermometer has ranged
from 48 to 70, averaging 59.
Macon, Georgia.—There has been rain on one day this week.
The thermometer has
.averaged 53, the highest beiDg 70 and the
lowest 31.




Bales of the week
...bales.
62,000
forwarded
11,000
Sales American
43,000
of which exporters took
3,00(1
of which speculators took
8.000
Total stock.
816,000
of which American..
550,000
Total import of the week
83,000
of which American
43,000
Actual export
5,000
Amount afloat
464,000
of which American..... .
335,000

42,000

56,000

52,000

10.000

12,000

26,000

5,000

33,000
3,000

11,000
34,000

2,000

6,000

846,000

895,000

555.000

592,000

52,000
38,000

110,000

4,000

3,000

3,000

937,000
627,000

4,000

78,000

102,000
76,000

469,000
428,000
369,000
323,000
The following table will show the daily closing prices of cotton for the week:
S'pd.
Batur.
Tnes.
Wednes. Thurs.
Mon.
Fri.
Mid. Upl’ds. ..(§>6%
(&GX
..@654
.
..@6%
..@6 9-16
Mid. Orl’ns.
@6 13-16..@6 13-16..@6 13-16..<36 13-16..@6 13-:16.,@6X
....

477,000
395,000

_

.

Futures.
These sales are on the basis of

Uplands, Low Middling clause, unless other¬

wise stated.

Saturday.
Mar

-Apr.

deliver}',

6 l?-32@9-16@

17-32d.

Apr.-May delivery, 6 ll-16d.
May-June delivery, 6 25-32d.
June-July delivery, 6 27-32d.
July-Aug. delivery, 6 23-32d.
Apr.-May delivery, Orleans, 6 21-32d.

May-June delivery, 6^d.
July-Aug. delivery, 6%d.
June-July delivery, 6 13-16d.
May-June delivery. 6 23-32@2£d.
Mar.-Apr. delivery, 6)4@l7*32d.
Apr.-May shipment, sail 6%d.

Monday.

Mar.-Apr. delivery. 6 9-lf>d.
May-June delivery, 6 25-32d.
June-July delivery, 6 27-32d.
July-Aug. deliver}'. 6%d.
Feb.-Mar. shipm’t, sail, 6 23-32@ll-16d

Mar-Apr. delivery, 6 17-35d.
Apr.-May delivery, 6 ll-16@21-32d.
June-July delivery, 6 13-lbd.

Apr.-May delivery, Orleans,
May-June delivery, 6 23-32@^d.

Tuesday.

Mar.-Apr. delivery, 6&d.

May-June delivery, 6 27-32d.
June-July delivery, fi 29-32d.
July-Aug. delivery, 6 31-32d.
Feb.-Mar. shipment, sail, 6>4@25-32d.
Apr.-May delivery, 6 23-32d.
Feb. shipment, sail, 6&d.
Mar.-Apr. shipment, sail. 6%cl.
Mar.-Apr. delivery, 6 19-32d.

May-Jane delivery, 6 13-16d.
Juue-July delivery, 6%d.
June-July delivery, 6 15-16d.
Feb.-Mar. shipment, sail, 6%d^
Mar.-Apr. delivery, 6&d.
May-Jnne delivery. 6 27-32d.
June-Jnly delivery, 6 29-82d.

Apr.-May delivery, 6X<h

.

March 10,

1S77.]

THE

CHRONICLE

W EDNESDAY.

Mar.-Apr. delivery, 6K©19-32d.

give all news received to date of disasters, &c., to
vessels carrying cotton from United States ports ;
Acadian, ship, 888 tons (of Yarmouth, N. 8.), Cousins, from Galveston Jan*
10, took the ground on the Pluckmgton Bank, outside the entrance to
the Albert Dock, Liverpool, Feb. 22, but was
got off again and docked.
Isaac Webb (1,49? Ions, of New York). The schooner
UniaoHortense (Port.)
was at Fayal Feb. 7,
loading the cargo left by the ship Isaac Webb, and.
will sail for Liverpool on or about the 9th.
Disco (733 tons, of Halifax, N. 8.) Charleston, Feb.
28, the last of the dam¬
aged cotton saved from the wreck of the British bark Disco, consisting
of 253 bales, was sold yesterday.
Kronprinzen, bark, (Ger.), from New Orleans for Liverpool, before reported

Apr.-May delivery, 6 ll-10d.

Apr.-May delivery, 6 xa-32d.

-

Below

June-Juiy delivery, 6%d.
May-Jane deliver}', 6 27-32d.
Mar.-Apr. delivery, 6 9-16d.
Jane-Jaly delivery, ti 15 16©29-82d.
Apr.-May delivery, 6 21-32d.
July-Aug. delivery, 6 31-32©15-16d.
May-June delivery, 6 25-82d.
Feb.-Mar. shipment, sail, 6 25 33d.
June-July delivery, 6 27-32U.
May-Jane delivery, 6 ll-16d.
Thursday.
I May-June delivery, 6 23-32d.
Apr.-May delivery, 6^@19-32d.
May-June delivery, 6 23-32d.
| Apr.-May delivery, 6 19-32d.
I July-Aug. delivery, 6 27-82d.
June-July delivery, 6 25-32d.
Apr.-May delivery, 6#d.
I June-Juiy delivery, 6 25-32d.

on Colorado Reefs, lies ir.
good position inside the reef, near the
shore, aud it is thought that most, if not all, of her cargo of cotton

would be saved.
Lottie Beard, sehr., (303 tons, of New Bedford),

I Juue-July delivery, 62£d.

| Feb. shipment,

sail, 6>£d.

j

The Exports of Cotton from New York, tliis week, show an
increase, as compared with last week, the total reaching 5.286
bales, against 4,961 bales last week. Below we give our usual
table showing the exports of cotton from New York, and their
direction, for each of the last four weeks; also the total exports
and direction since Sept. 1, 1876; and in the last column the total
for the same period of the previous year:

Exports of OoUou(bales) from

we

ashore

Friday.

Mar.-Apr. delivery, 6&d.
Apr.-May delivery, 6 9-16©19-32d.
May-June delivery, 6 2l-32©J£d.

New If or it since Sept.l*

1876

as a

3-masted schooner.

Sullivan Sawin, schr., (67H tons, of Bath, Me.), from Savannah for Liver¬
pool, before reported put into Charleston, 8. C., partially dismasted,
<&c., after discharging a portion of her cargo, had foremast taken out
and would receive new topmasts, jibboom and sail*.
Galway, Feb. 16.—Two bale* of cotton, with no marks visible, have been
examined. They appear not to have been long in the water. Each bale
is 5 feet 3 inches long. It is considered to be American cotton.
A large
quantity of cotton is floating in the bay.

Cotton freights the past week have been
Liverpool.

Same

WEEK ENDING

Total
Feb.

Feb.

Feb.

14.

21.

28.

Liverpool

6,524

5,224

Other British Ports

•

Total to Gt. Britain

6,524

Havre
Other French ports

•

4,165

•

•

•

•

•

296

•

•

Hamburg

•

•

Bremen and Hanover

•

233,748
7,343

•

262.108

241,091

'263,692

5,440

• •

* •

•

5,440

•

•

•

•

•

9,648
2,226
1,586

20,212
8,374
21,879

•

• •

Other ports
Total to N.

Europe.

*

*

5C0

13.469

Spain.Oporto&Gibraltar&c
Total

«•

Spain, dec

....

•

12
409

200

421

260,19!

316,493

•

....

6.559

following

•

....

5,224

....

4.961

5,286

are the

receipts of cotton at New York, Boston,
Philadelphia and Baltimore for the past week, and since Sept. 1/76:
PHILADELPHIA

BOSTON.

BALTIMORE.

PROM

This
week.

This

Since

week.

Septl.

3,907

86,221

1,302

1,827

New Orleans..
Texas

Since

Sept. 1.
64,427

Savannah
Mobile
Florida
S’th Carolina
N’th Carolina.

114/39

914

Virginia

12,925
92,616
72.811
211,037

1,956

North’rn Ports

•

•

•

11,257
114,016
3,166

•

Tennessee, &c
Foreign.. ...

1,544

Total this year

11,226

49

Sept.l.

207

8,775

Since

756

1,180

19,9)7
©

-

#

•

o

•

...

•

.

-

„

•

697,796

•

■

m

m

5,406 196,50!

...

_

140
204
884

....

14,519

11,871
50,011
49

m

....

11,698 241,944

49i 14/9*4

....

®

896

....

783,265

.

„

®

2,482 65,734
3,9M 71,314
3,177 71,514
....

*

„

548

•

•

This Since
week. Sept.l

6,063

....

124
568
337

This
week.

6 824

34,642

5,100

,

....

....

...

1,103 44,597

1,719 96,341

1.C2S

2,010

‘

Total last year.

23,051

38,598

93,628

Shipping News.—The exports of cotton from the United
States the past week, as per latent mail returns, have reached
49,380 bales.
So far as the Southern ports are concerned, these
are the same exports reported
by telegraph, and published in
The Chronicle last Friday.
With regard to New York, we
Include the manifests of all vessels cleared up to
Wednesday

night of this week.

Total bales.

New York—To Liverpool; per steamers The Queen, 1,411 and 109 Sea
Island
Montana, 1,431 ...City of Richmond, 1,879
Abys¬
..

sinia, 456

New Orleans—To

Liverpool,

5,'<80
per steamer

Advance, 5,239

To
To
To
To
To
To

Rita, 1,776

Glenflnart, 5,422
Cork, per bark Hesperia, 1,555

per

ships
12,437
1,555
3,937
1,2^9

Havre, per barks Ragusin, 1,889.. Karsten Langaard, 2,018
Rotterdam, per ship C. B. Bazeltir.e, 1,299
Reval, per barks Themis, 1,751.. .Racer, 2,475
4,226
Barcelona, per bark Prosperidad, 665
665
Vera Cruz, per steamer City of Merida, 1,416
1,416
Charleston-To Liverpool, per ships Forest Belle, 3,011 Upland and
209 Sea Island
B. Hilton, 3,184 Unlaud and 83 Sea Island
per barks Hazelhurst, 1,860 Upland and 78 Sea Island ...Dina
Campbell, 1,711 Upland and 173 Sea Island
Edith Carmichael,
2,319 Ut land and 33 Sea Island
12,664
Savannah —To Liverpool, per bark Kathinlsa, 3,150 Upland
3,150
To Reval, ptr bark President Von
Blumeuthal, 1,600 Upland
1,600
Texas—To Liverpool, per bark Asta, 757
757
Baltimore—To Liverpool, per steamer Hibernian, E0 and 287 bags.,..
337
To Bremen, per bark Henrik Ibsen, 51
5*.
...

...

...

Total

49,380

The particulars of these shipments, arranged in our usual form,*
&re as follows:
.

New York
N. Orleans

Charleston;-

Savannah

Texas
Baltimore

Total




Liver¬

pool. Cork Havre.
5,286
12,137 1,*555 3,937
12,664
3,150

Bre- RotterBarce- Vera
dam. Reval. loua. Cruz. Total.

men.

1,299

4,22i

*665 l,4i.6

2£comp.
©* )*f@9-32comp. &comp.

—

Wednesday—(©)£ &@9-32comp. 3£comp.
Thursday..— <©# 3..£©9-32comp. &comp.
Friday
—©X &©9-S2comp. %comp.
Market quiet.

34,631

5,286
25,535

There

3,937

was a

5,826

665

Sail,

c.

c.

c.

%Comp.
%o.omp.
%comp.
%comp.
j'comp.

&<©?£ ^©lcomp. &©#
%(©a£ ^©lcomp. *£©$£
&©* %@lcomp. %(&y%
&(©»£ J£©lcomp. £<©#
J*©lcomp.
Jfcomp.
%®lcomp.

1,416

49.3S0

—
_
—

considerable decline at the

prices of flour.

also

were

lower.

Flours from

Winter wheat

much

depressed, as they found a very slow sale. Yesterday*
foreign advices gave a firmer tone to the
market, although not leading to much increase in the volume of

were

the

more

favorable

at the reduced

not been able to work off much stock

Production continues on a reduced scale
at all points.
Corn meal is more active at the decline. To-day
there was a steady but quiet market.
The wheat market did not change materially until
yesterday.
The demand continued limited, and for irregular parcels lower
prices were excepted; but for regular grades holders were quite
firm.
On Tuesday and Wednesday, there was a considerable
business speculation at $1 40 for No. 2 Chicago, and $1 42 for
No. 2 Milwaukee, in store. Yesterday, there was a firmer feeling
on the more favorable
foreign advices. Receipts at the principal
Western markets continue to be less than half as large as last
year.
To-day, there was little done, except two loads of No. 2
Chicago at $1 40f, in store.
Indian corn was slowly but steadily declining throughout the
week, until yesterday the reduction was about one cent a bushel.
Supplies were liberal, and shippers embarrassed by an advance
in ocean freights.
The lower prices caused a more active market,
but did not strengthen, in any perceptible degree, the confidence
of holders.
There is a disposition to anticipate low prices
throughout the coming spring and summer. To-day there was a
further decline to 54^c. for No. 3 mixed, and 55c. for steamer do.
Rye has been more active, and prices are l@2c. dearer.
Barley and barley malt are more active at the'late decline.
Oats have been drooping, and the decline for the week is
fully
2c. per bushel, without stimulating the demand. The relative
cheapness of other articles of feed reduces the consumption of
oats.
To day the market was dull, with No. .8 graded closing at
prices.

40c. for mixed and 43c. for white.
The

following

are

the closing quotations:

Flour.

$ bbl. $4 003
Superfine State & Western
5 30©
Extra State, &c
5 75©
Western Spring Wheat
extras
5 87©
do XX and XXX
do winter X and XX..
do Minnesota patents.

City shipping extras..
City trade and family
..

brands

Grain.

r

No. 2

i..

mily brands.
Southernshipp’gextras..
Rye flonr, superfine

388

1,299

Steam.

c.

beginning of the week
The long continued dulness of trade;
whether for export or home use, had left considerable accumula¬
tions in the hands of receivers, which they were anxious to close
The reduction was most important in the low
out.
grades, but
in the

Southern bakers’ and fa¬

757

1,555

—

c.

Friday, P. M., March 9, 1877.

4,750

51

51

:

BREADSTUPFS.

12,664

l’coo

757
337

c.

Monday....—3<@9-32comp.

business, and receivers had
NEW YORK.

RECE’TS

follows
Sail.

c.

_

medium brands

Grand Total

The

50,465

....

All others

1,5S4

*200

*

as

,—Havre.——Bremen.—w—Hamburg.—*
Steam. Sail. Steam.

d.

Saturday...—©3^ #@9-32comp. *£comp.

1,915

•

500
•

Sail.

,

1,915

5,286
•

year.

Steam.
d.

Tuesday.

5,286

296

•

date.

203

5,224

35

to

Mar.
7.

3,965

•

35

Total French

•

period
prev’ue

Perry, at New Bedford,

Feb. 26, from Mobile, before reported as
having put into Savannah dis¬
masted, is rigged with temporary masts, but will be refitted at that port

,

EXPORTED TO

231

4 50

Wheat—No.3 spring,bush $1 32© 1 35
No. 2 spring
I
1 39© 1 44

)

No. 1 spring
Red Western
Amber do..
White
6 10 1
6 25© ,8 25 j Corn-Western mixed....
Yellow Western,
6 (:0© £ 25
7 5C(©10 00
Southern, ne.v
5 85© 6 75 Rye
Oats—Mixed
7 25© 8 25
White

5 65
6 00

..

*

Barley—Canada West...
State, 2-rowed

7 25© 8 50
6 15© 7 00 J
State, 4-rowed
4 25© 4 80 Barley Malt—State

Cornmeal—Western, &c. 2 85© 3 00

Corn meal—Br’wine. &c.

}

3 25©

....

.

...

Canadian

Peas~Canada,bond&free

1 46© 1
1 SO© 1
A
6U© 1
1 40© i
m

43
45
60

60
58
•56 ©
59
60
56©
88
80©
38?.
52
54
42©
65© 1 00
00© 65
6 '(©
72
95
75©
1 00© 1 15

54©

90© 1 1A

fol¬

The movement in breadatufia at thia market has been aa
lows

•HKCKIFTSAT NKV YORK.

Flour, bbls.
C. meal, “
.

Wheat, bus.

"
"

.
.

Birley. “

.

Oats....**

.

1877.

.

34,012
659,891
4,721
34,016
46,524
1,714,093
2,534,792 345,277
21.372
S’,074

103,316

968.271

615,010
1.123,775

1,073,518

The following tables show the
ment of Breadstuff's to the latest

•

•

•

•

4,591

1876.

<

For the
week.

Jan. 1.
226.386

Since
Jan. 1.

35,317
5,440
199,204
260,107

Since

For the
week.

time
1876.

2,469,1 >93

385,778
8,938
47,971
192,496

KXPOBT8 FROM NXW YORK.

v

Same

1877.
Since
For the
Jan. 1.
week.
485,428
46,113
46,172
4,883
27.622
467,333
,

385,881
2-,056
2.549,266
2,353,218
15,387

37,291

1,353,747
2,87S,314
166,389
95,386
25,353

4

•

*

•

•

•

•

•

•

513

•

•

•

46,208

Grain in sight and the movtmail dates:

FOR THE WEEK ENDII^G
3, 1877, AND FROM JAN. 1, TO MAR. 3, 1877 I

RECEIPTS AT LAKE AND RIVER PORTS
MAR.

Wheat,

bb.s.

Corn,

Octs,

Barley,

Rye,

bush.

Flour,

bush.

bush.

bush.

bush.

(32 lbs.)
176,389
21,190

(196 lbs.!>

(60 lbs.)

(56 lbs.)

20,051

63,316
99,662

687,160

185

57,860

7,034

At—

71,966
10,750

351,099
93,814

Chicago

23,759

Milwaukee
Toledo
Detroit

Cleveland
St. Louis
Peoria

*1,896
18,684

.

.

“

’75.

106,700
....

....

393,752
298,011

78,659
62,670
102,039
64,402
717,910
865,065

Correep’ng week,’76

7.100

369,162

13,685

....

Total
Previous week

15.4C0

76,573

1,8U0

Duluth

865,23'’'

533,698
3,063,441

(48 lbs.) (56 lbs.)
f 6,549
lfc,S20
9,159
11,101

14,048

500

283

21,653
14,050
83,569
48,500

8,«79

1,170

800

3,773

8,059

20,250

6,600

..

....

...

.

102,252
1.636,445
331,429
136,973
407v775
1,637,462
HC,7-38
504,203
1,639,381
64,476
754,-053
247,601
10,838,735 2,343,154 1,117,118
10,61)7,310 3,044,080 1,558,S97
907,201
3,045.927 2,701,891
6,268,236 3,499.305 1,535,039

Total Jan. 1 to date.
6,4)3,175
Same time 1876
693,026 6,714,412
Homo time 1875
1,209,740 12,982,062
Same time 1874
Total Aug. 1 todate..3,361/82 3\158,414 49,488.636
Same time 1875-6.. .2,999.305 44,550,150 29,92',915
Same time 1874-5... .3,252,006 41,245.143 2i, 705/33
Same time 1873-4.... 3,878,898 56,317,037 32,905,871
•

42,061
86,341
29.847

21,8.0

415,523
2U,217
247,628
398,107

13,367,341 7,58^,96S 2.193,012
17,287,290 6,089,371 1,5' 0,6.0
14,4.9,936 5.111.934 932.370
15,789,149 6,348,291 1,400,837

Estimated.

Flour and Grain from the ports of Chicago,
Toledo, Detroit, Cleveland, St. Louis, Peoria and
Duluth for the week ended Mar. 3, 1877, and from Jan. 1 to Mar.
3, inclusive, for four years :
Shipments of

Milwaukee,

Flour,

Wh°at,

Corn,

bbls.

bush.

bush.

876,095
60,2-17
152,447
liar. 8, 1877.
133.852
675,136
35,044
Feb. 24,187
118,038
409,339 1,196.811
Cor. week ”
195,647
50,734
123,296
Cor. week V
107.026
400,523
Oor. week ’<
143,0 3
153,312
88,157
25',086
Cor. week V
76,473
72,203
578,126
Oor. week ’<
i.
Total Jan. 1 to date. 653/36 1,338.025 5,101,’31
923,023 2,691,805 6,735.771
Same time 1876.
8ametime 1875.
679,433 2,022,9! 3 3,432.972
.1,038,077 6,540,835 1,893,153
Same time 1874.
.

.

,.

.

.

.

.

.

.

Rye,

Barley,

Oats,

busb.

bush.

bush.

1*38.770
143,133

58,035
50,6 J7

240,957

72,718
34,148

170,879
1,299,414

140,568

7.813

567,719

155,867

1.603,023

5

4,2-.8

1 )2.637

1,4 5,092

452,150
791,760

137,574

1,520,706

1 TO DATE.

...

....

Total

....

290,094
334,575
35,000

155,245
62,001
7,000

3C0

....

800

•306,003
944,800
112,9ol

19,900
....

5894)0
83,634
344,623

2,024.230
1,475,829

.

.

Supply

of

6,060
4(0

....

....

3,5C0
r.,803
6,000
20,900

•

*

•

m .

•

6,1(0

'

2.800

1,460
....

15,HO

266,446
208,404

9^,684

405,841
H>,695
2,219,385 6)9,437
•2,9 Vi,505 12,991,001 2,4-9,142 1,211,101
2,7l?,4-;o i0,562,G78 2 470, *241 4!0,2.2
S,3.6,720 6,421,225 3,067,074 465,437

....

Rye,
busu.

9,OCO

1.674,865
1,250,595 11,638 6 9

Jan. 1 to date— ...1,153,255
1,569,082
Same time 1876..
S<um> t.1 me 1875
1,341,279
2.114,537
Same time 1874

The Visible

hush.

15,103

132,354
157.997
155,424

...

Previous week..-,
Oor. week ’76..

bush.

bush.

6,400
8,9-20
23,119
13.752

.

Philadelphia....
Baltimore
New Orleans....

Bariey,

bush.

3,000
..

Oats,

20,0 0

Portland
Montreal

Corn,

28,111

....

132,871

KOH TUB

Wheat,

bbls.

AtNew York
Boston

11,315
10,402
8,032

5:3,8*28
138.8 n

KBCBIPTB OF FLOUR AND GRAIN
WEEK ENDED MAR. 3, 1877, AND FROM JAN.

Flour,

2 *,763

14,052
16,400

lC9,2t-3
131,706
232,920

AT SEABOARD PORTS

....

10.6 ;o
8,364
8.992

1S4,132
51,070
30 0-0

294.643

Grain, comprising the stock in

granary at the principal points of accumulation at lake and
seaboard ports, in transit by rail, on the New York canals and on
the lakes, Mar. 3, 1877:
Wheat,
In store at New York

.

In store at Chicago
In store at Milwaukee
In store at Qnlutb
In store at Toledo
In store at Detroit

Oats,

buph.

513.828

.

.

bush.

Rye,

46.0(0

45,000

318,10)

14,362
756,563
199,185

299, «80

7/37

925,363
270,210

244.761

1 481.422

3*2,961
.

401.863

120,0;jU

216,148
72,460

45,000

15.090

1,015,7*24
319,414

.

105,669
111),-47
197,089

387,1:87
..

In store at Montreal
In store at Philadelphia*...
Instore at Indianapolis
In store at Kansas City
In store at Baltimore
Rail shipments, week
Afloat id New York

230.106

4,313

61,874
..

..

9,234

235,000
12.W84
178,963

9 v 5,000

15*2,447

3-10,-505
239,9 6
1,147,526
876/95
14

,0C0

.10.779,145 12.203/80
* .10,823,124 ;11,470,713
.

.11,068.6*27 11,07,1*24
17,108,270 6,235.796

28,502
34,964
62,000

<

0,127

32.819

£00,0* <0
L3.628
17,051

*26,075
301,330
13.-135
*

91,305
2,847
•

•

•

7.50'

58,*04
78/43
4,444
.

•

•

#

25,000

3,500
21,387

30,574

9,966

2,442

3 .0u0

5.5 0

6.0 0

198,7)0

5%0 5
225,00®

29,7- 8
23,000

145,ICO
2,922,144
2.825.991

3,478,16-:
3,3*5,918

chants.

domestics and
prints have been large during the past week, amounting to 2,582
packflges, some of which were sent to new markets. The prin¬
cipal shipments were as follows : British Possessions in Africa,
1,000 packages; Brazil, 347; United States of Colombia, 252;
Hayti, 218 ; British East Indies, 200 ; Great Britain, 186; Mexico,
145; British North American Colonies, 102; Peru, 50, &c. The
home demand was chiefly of a hand-to-mouth character, but
prices ruled firm. Brown sheetings and drills were in moderate
demand, bit bleached shirtings were lightly dealt in. Denims,
tickings and dyed ducks were less active, and cheviots were com¬
paratively quiet. Cottonades moved slowly, but leading makes
are in light supply.
Corset jeans and satteens were taken in
small lots to a fair amount, and low grades of the former are
well sold up.
Print cloths ruled quiet but steady on the basis of
4$c., cash and ten days, for extra 64x64 spots and March deliv¬
eries, and 4$c., thirty days, for April, May and June contracts ;
56x40 print cloths were quiet "at 4fc., thirty days, for spots.
Prints were dull in agents’ hands, but standard makes are still
held at 7-£<i. Dress ginghams were in good demand, bat staple
and fancy makes moved nlowly. Cotton dress goods continued in
brisk request and firm at current quotations.
has been an irregular
styles of light weight ca3si .
meres were taken in moderate lots by jobbers and clothiers, who
bought sparingly early in the season, and there was some demand
by the latter ior job lots of heavy casaimeres suitable for the early
fall trade.
Cloths and doeskins of the most reliable makes were
sold in small lots to a fair amount, but meltons were rather quiet.
All wool diagonal and fancy worsted coatings continued in fair
request, but cotton warp makes were less active, owing to the
fact that the trade bought freely at the auction sale of Scheppers’
Tweeds were fairly active in the hands of
fabrics last week.
both agents and jobbers, but satinets ruled quiet, and there was
only a limited demand for Kentucky jeans. Plain and fancy
worsted drees fabrics were distributed in moderate lots to a
Domestic

Woolen Goods—There

demand for men’s-wear woolens. Good

aggregate amount, and are firmly held at opening quota¬
but worsted shawls were devoid of animation, although a
sma 1 sales were reported.
Carpets were more active, and a

liberal
tions ;

few

large line of the Crompton Carpet Co.’s body Brussels carpet
was
offered at auction, where it realized from $1 22£(a$l 50

yard.

9*5,686

Sri\339

3,079,460 3,865,435 1:,07 ,022
3,361,553 2,053,*231 420,421

Foreign Dry Goods.—There has

and medium to fine

Cashmeres, alpacas, pure mohairs and brilliantines
request, and fancy British and Continental drees
goods were a little more active. Linen and white goods were in
steady demand, and embroideries were fairly active. Ribbons
aud millinery silks were sold in considerable quantities privitely
posed of.

and

fair

in

were

at

auction.

Imitation Jaces and curtain nets were in

Operations in the dry goods market have been less spirited than
was generally expected and in volume the package irade of the
past week was light and disappointing to manufacturers’ agents.
There was a considerable influx of retail buyers from the South

fair

moved slowly. Men’s-wear woolens and
quiet in first Ifcuads, but were jobbed
rather more freely.
Hosiery and gloves were in steady demand.
We annex prices of a few articles of domestic dry goods :
request, bat real laces

Italian cloths continued

Glugliams.

9>£-10>£ I Baird
9^ | Belfast

9yz

Bates

1877.

moderate demand

grade blacks being most advantageously dis¬

Domestic

Friday. P. M.. March 9,

a

staple foreign goods and prices are steadily maintained.
were sluggish in first hands and there was some pressure
to sell through the medium of the auction rooms, where several
thousand pieces were distributed at rather low prices—colors

Araoskeag*1

THE D8.Y GOODS TRADE

been

Silks

Estimated.




Goods.—The exports of

Cotton

Domestic

for

1,800
166,536
3,403,280
2.013,326

209,509

of Messrs. J. T.

per

1,711,095
3,133,8^0
21,119

suspension of the old dry goods jobbing house
Way & Co., of Philadelphia, was announced in
the trade, but was not entirely unexpected, and no fears are
entertained regarding the general solvency of dry goods mer¬
The

the sellers.

bush.
238 835
47.700

bush.
8*22.655

65,000

Instore at Oswegc*
In store at St. Louis
In store at Peoria
Instore at Boston
In store at Toronto

Total
Feb. S4. 1877
Feb. 17, 1877
Mar. 5, 1876

Barley,

2,730,641

.

In store at Albany.
In store at Buffalo

Corn,

hush.

*

West, but the jobbing trade was by no means active, although
quantities of spring goods were taken by buyers from
the former section of country. Prints have been very quiet, and
the production of light work is so rapid that stocks have begun
to accumulate in agents’ hands ; but, owing to the increased export
demand, there is not an over supply of leading makes of cotton
goods, and stocks of spring-weight woolens are getting into good
shape. There were no price changes of importance in either
domestic or foreign goods, and, as a rule, values are steadily
maintained.
Silks were largely sold in the auction rooms during
the week, but the prices realized were not very remunerative to
and

moderate

:

Corn,
Bye,

] March 10, lf>77

fHE CHRONICLE

232

9

Renfrew
| Plunkett

9

; Johnson Mlg Co...

Glasgow
Gloucester,

ns...

Lar caster
Namaske

.

9^ | Mohawk
9>$ i Alamance
82i I Kandaimon

Cotton

11

22>^ I Sargeaut 6 to 12..

Pecdle

2^

do

..

|

Fonteuoy

| Miami..

9X
8

Yams.

Empre-* 6 tolls...
on

Shirley
| White Mfg Co
j Carleton
i

do

22J*

22*4

IXL 6 to 12

221^ (XXX do

.......

^A

March 10,

lo'<7.j

THE CHRONICLE

Imputations

or

exports or

Dry

as

ending
corresponding weeks of 1870 and

follows:

ENTERED FOR CONSUMFTION FOR

TUB

WEEK

1875

<

,

Pkgfi Value.
Hanafactiires of wool.., 1,259
$572,582
do
cotton ..1,904
567,731
do
silk...
980
619,122
.

1,314
1,885

flax

..1,333

Sftlscellaneoua

dry goods 2,066

1,158
620

2:i3,214

1,790
2,099

7,542 $2,307,538

3)7,273

THROWN INTO THE
SAME PERIOD.

do
do
do
Miscellaneous

672
575
153
794

cotton..
silk
flax

$273,6C6

451

$816,565
5,415
2,807,588 11,476

$767,885
2,352,629

1,833
6.474

Tjy>

{. o JO V-

l- iO l- O'. GO -J* X> O CO

to X 7# CO ’T 7* 55

T>

o*

rl

jo

in

^

t-jo

M r- M -

t-

3

-O' ‘

xV

71

oo-.o

C

— O'*

Mr.

GO

»-T

'»MXXf3X'<'VON0500®M
■?£

CO

C*

CN

©rtSn

nnJJfflMUt. a
X

c<

CM

Si

.(NHTCfli

93.195

^ «

108,011

27,307

o

O

^

C5

’

X

xT 50

aj t>>

13 If 03

O

N -i)< l» M 35 n M 3 35 O
—I >n 35 J X 35 M ri B

o; i- _5

•

jOl-OO

ri

m

I rt

M —i Tl T* i—

_

VO 33 ri
TP

TT 30

■

©T©

MO1

eo

r-T oo"

CO

©

r-c

tr 55 IS 2 V? © ©* oo in to
3! M M

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’

of

*T

e»

$3,124,151

16.891 &>

o

eo

_

804
522
142
760

$329,263
168,318

351
370
104
268

Miscellaneous dry goods. 6,982

68,909

7,597

Total...
9.210
kdd ent’d for consumpt n 7,542

$869,867

8,690
11,476

-

S3

oo

ct

XJ
*->

IB O
=>
1I-

•

.

»

iXSOX

•

X)
30

^

•

.

O

.
-

r-

•

•

• r- —• <J| O'*

•

•

o

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•

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.XO-31

or.
3?

■

•

iq x —*

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VH

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co

.dOQ05HHHXrtO(3)

t-

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m (
ojc
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.

'iilHMiw.OQHfliTia
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*-<

.

.

V ^>ri rirlN

.

ooo

8,307 $2,251,137

OOQO

m 3,

cotton..

silk
flax

174,482

128,895

$2-53,785

60,358

623
319
14)
314

47,498

2,048

64,997

3,447

$629,723
1,649,722

■

ooo«

■

in 03 03 >n

3

V -N I*
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•

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.

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3

20,163

$439,422
2,352,629

6.474

$2,792,051

_

MH

*

■X-P

•

«

■

,

63,713

join

rt

•

«3*SS

'

o
•

Buttons".
Coal, tons
Oocoa bags
Cofiee, bags
Cotton, bales
Drugs, &c—
Bark, Peruvian..
Blea. powders...

1,696

bbls

37,75o

Sugar, bxs & bags.

4,045

458 095
182461
12 896
24

710

3,946
131

3,610
13,413
10,433
941
413

20/296

Waste

541
100

....

796
950

Hemp, bales
Hides, &c—

Wines, &c—
Champagne, bks.

6.741

*

3T5
o

•

CO

Si

.THrtM

*

•

•©^lr-2rP‘X>TO-MCO-^'5^3
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x: t-

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in

r-i

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•

.

•

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•

•

•

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.

•

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c> it) x x i»
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62 257
432.526

315,175
10,685

'234

17,537

13 261

d

224 114

9*732

108.511
96 029

218,378

143/222
432,436
1,560.684
29,710

.

O*

•

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•

530

Raisins:

309,079
2,494,483
32,193

30,744 Hides, undressed..
247
877

10,259
576

Spices, &c.—

g«S

K

.

ji

«

<j

—

•

I

O 7#

.

•

;

«p

rr 00

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1»-

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2
-

£

w

•

cot-co

•

as

<3*

•«

*-4

*Cl

*

■

2,172
1L941
39,566

Ginger
Pepper
Saltpetre

611

179,979

8,915

♦-»

•© *QO

3Q

75,535
7,364

Logwood

98,536
2/272

191,200
12,353

*

•©
•

'©

^

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. |-

.

•

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Since
Same.,
Jan. 1/77 time 1876

Rye

“

Barley & malt “

Grass seed...bags

Beans
Peas

bbls.
bush.
Corn meal. .bbls.
Cotton
bales.

Hemp

fhdes
Bops

No.

bales.
Leather
sides.
Wolasses
hhds.
Molasses
bbls.
Naval Stores—

Crude turp..bbls.
Spirits turp “
Rosin
Tar

“




25C

©

•©
'T
X

>o—

in

O

•

iO 35

-

i

2
a0
o«

c-

C*

6l'»
^X

•

•<

-

..

4l-

PC 'O ©

.

•-

•

.
•

‘

.pkgs.
Oil, lard... ..bbls.
Peanuts
bags.
Provisions—
.

Butter.... pkgs.
-

39

4.824

505

*

(•
u

Eggs

44

Pork
Beef

it
44

Lacd
Lard
Rice
Starch
Stearine

.

kegs.

pkgs.
C»

Sugar
Sugar

32,902 Tallow
7.108

4

Cheese....
Cutmeats

.

..bbls.
.hhds.
.....

.pkgs.
44

...

Tobacco.... .hhds

Whiskey

44,714 1 Wool
1,926 Dressed

el

i

.

co_
ex'

•

X 00 x o
t— x>
co

00

•

•

|<X
-*03

...

.bbls.
bales.

hogs..No.j

51,461
2,693
20.7221

171,511
49,231

244,594j
70,025

/

•©•*>

•(»•!?
•

•

•Ca-Y?

• p-a

•

‘

©

•

• r* 3J

,

.

ai jo

Ol xr

_

-93,389

r*CJ.

m'o

*

^

:S <=>

.

—■

•

.in

*2

:

•

in

•

3
o
ri

oo

03

•

•

:

•

•
•

•

co co

© nn

tt -j>aot*10 X1-1
•

*

-7

•
•

-x
co

00

.

co o o eg

•a'Sg©55
X C1 ViO

*eo' *«

50

•

•
•

rr®

2S
TP

* tl22

©o

720

GO

£

©©xtoocrin^.^jOr-o . So
tp »n tp^
00^ 00 03 • f- 35
« ,0.tt."r
50
*
rf^rT QO* co'rp'icr
* OOP
CV ©

W

c»

•

,-h

03q>
O

;
c

•o'
©

Rrl

9

3

QD^i

CU48

Oil cake....

Tobacco.

7,004
49,289

Since
Same
Jan. 1,77 time 1876

Pitch

1,038

486,426
659,891
467,333 1.711,093
2,469,(793 2,584,792
1,123,775 1,013,518
103,616
21,312
615,010
968/271
59,027
42,341
26,312
22,305
S2;T*i
868,064
46,172
34,016
224,105
203,600
392
1,53!
795/2(2
633,920
15, C01
22,834:
677,444
802,813

43,201

-

®

of _r
03 ^

©

Produce.

1, 1877, and for

•

,iOHr(

•»

•

•TJ
*n

19,903

6 081

•

03* *

■as

195.193

45,3%

•
•

fSiW f S
»OpT

h

34,194
31,041

48,319

Woods—
Cork
Fustic..

93

in

»n

“
“

gig

•

•

&

I

bbls.
bush.

SgJ

•
•

.»xn

i’-O

•

2
«2
*Ot

•

Ocd

Cassfa..

Receipts or Domestic

Flour
Wheat
Corn
Oats

—

m tp

225,627

167,181

•

203
1,144

1,563

-

ss;

◄ M «©aoo
p

69 95S

Oranges

.

Q

113,998

1,392

35
—1

0<

«D

co

160 232

36 915

.

-

*

$

—

X -rp

•

Jo®.'

l'i,3 ,7

The receipts of domestic produce since
January
•the same time in 1876, have been as follows :

pkgs.
Breadstuffs—

-

no

gs

25,50)

$

Mahogany

Ashes

S CO

*

rt

2,492,lu9

5,376

:....

© “5
N o

• CO 1- CO 0! -o
• C* Tj( r- X 35

BD — * - CO
gj — i-i

.

9,032

Tittmons

28,277
3,23i

Watches

in

•

a*

.

1M 7i1

878

504
60

Linseed
Molasses.

5o»

*

..Jio

4,725

14,229

9,135 Fruits, <fcc.—

181

India rubber

Ivory
Jewelry, &c.—
Jewelry

r-

•

I-I

819
11?

210.032

6,964 Cigars
312 Col’ks
5,317 Fancy goods
6,331 Fish

14,132

Hides, dressed.,

w

CO

;S

M O

10,029
15 6:2

Wines
639 Wool, bales
1,157 Articles reported by
303
value—

Rice

Bristles

2,150.918
03,339

6,599 Tobacco

458

478

Hair

5,102
143 323

Tea

1,466
4,774

Gum, Arabic....
Indigo

8odaash
Flax
Furs
Gunny cloth

Steel

Tin, boxes.
Tiu slabs,lbs...

140

2,721

Gil, Olive
Opium
Soda, bi-carb....
Soda, sal

10,918
165,118

Spelter, Tbs

391,333

655

rH

CO

O O

•

•

t*t

•

3d fl

Paper Stock
2,557 Sugar, hhds, tcs. &

236,020

3°

^5

© u

645
100

Lead, pigs

5 035

4,606

•

|»35
TO C—

•

rj Ot QO -T- *

Hard wm e

4 491

5,333

Cochineal
Cream Tartar...
Gambier

Madder

4,74S

1/269

1,690

ir.f-9

o

.

.

x ©* x
o TP H

•

in o ©
OW-h

so
.o

-ooo

.

: :

*

p

a

>h

specified.]

Metals, &c.—
Cutlery

42,690
5,539
1,354
4,06:,

4414

•

*

1

n 5
S3

Same
Jau. 1,’71 time 1876

Earthenware—
"

g -B
°.o

-

O

Since

China, Glass and

.

30

M

^

Earthenware.
Glass
Glassware
Glass plate

<®
©»

rt

.

*-

1,593
4,581

-

2

•

.

CO

t-i

g<

table, compiled from Custom House returns,
imports of leading articles at this port since
January 1, 1877, and for the same period in 1870:

China

l-:

X
CO

• —■

•

The following
shows the foreign

Since
Same
Jan. 1,’71 time 1876

'X0MX03353X0X.C
;
Vrpjy
rr
OOM
C-

*s

CJ

:©
ts

9,921 $2,279,-145

when not otherwise

TJ*

°4

Imports of Laadtus Articles.

[The quantity is given in packages

B:

5G

109,254
131.901
70,786

f-

2,307,586

Total entered at the port. 16,752 $3,177,451

$118,752
111,030
10 ,251

i

do
do
do

_

* S 95

ENTERED FOB WAREHOUSING 1DURING SAME PERIOD.

Manufactures of wool....

^

or

CM a>

oT r-7

CO

t-

on

•

2 3! '5 r. X X i(3
O « CJ - X r- H

..

1

Total thrown upon m’k’t 11,416

rl t-

^ -7J 74 ©

r-

i-i

SS2 S
1- M

r-i

$601,415
1,619,722

dry goods. I,6b0

3,874
Idd ent’d for consumpt’n 7,542

t-t

CO

2t*TNj)3oo»xt-japi
i

IS!),005

3,503

153,638
172,503
38,362

319
142
5S2
3)9

.Oo-MN

$183,896

149,474

3S

X CO t- t» O JO 50 QO X

..

,2

$282,899

.t —•

lO X 35
M N-Tri
eo
m

>»

MARKET DURING THE

115
645

lurk.

O r~l

6,474 $1,619,722

679
473

168,168
148,861
18!,036
44,894

Total

©

143,081

.5

11,476 $2,352,629

WITRORAWN FROM WAREHOUSE AND

Hanafactures of wool

■

h

432,098

239,579

r>ew

iruiu

r-i

361,651

2,034
5,256

181,153

Total

.

877

333,993

-

$552,149

*1877Pktria. V^lne.
807
$343,619

5>2,158
685,529

..

do

,

.

.

8, 1817.

ENDING MAR.

■1876
1
Pkea
Value.

Leadiuc Arucien

Tue following table,
compiled .from Custom House returns,
shows the exports since Jan. 1,
18?7, of leading articles from the
port of New York to ail the principal foreign
countries, the
totals for the last week, and also the totals since
Jan. 1, 1877
and 1876.
The last two lines show total
values, including the
value of all other articles besides those mentioned in
the table.
X ’X l—

The i mourtatians of dry sculls at tUia port for the week
Mar. 8, 1877, and for the

1875, have been

233

©T-<

15,529
171,236
107,875
124,298

45,952

82,004
45,829

9,161
7-3,623
7,971
8,268

23,471
92,498
3,540
10,521

64,078

,CS o
-Hrt

a

.

a?

•

O

g

«

•

S

.t-OOl

: 2c

.

•

67

49,855

30,037

ci

onflgBflsS
^
.Q

*° .O .O

.O .©
03 00

os

^

©

2

-■£

g*

11,160

10,153

,

•*

eT

87

24,192

—

c-,' r-T o' ol o*

£*444*4

6,982
7,828
29,530

4,133
24,835
7,729

in

ipnai^oanmai

o,97l

10,014
12,479
29,836

—

lO 33 j. « c*
m m — <x ©
50

1-

.

**

,

co

03

45,363

3,784

d

>»
T-j

pH a

2 S

®o?Ksqoo^
Oh

33

£March i°. 1877-

THE CHRONICLE

234

33 PINE ST., NEW

MORTGAGE BONDS

MERCHANTS,

COMMISSION

Hong Kong, Shanghai, Foochow
Canton, China.

$200,000 REAL ESTATE FIRST

Equitable Trust Co.,

for sale In amounts of $1,000 and upwards, yielding
NINE to TEN Per Cent interest, and.

George A. Clark &

York.

Bro.

MORTGAGE BONDS ARE
COMMENDED TO THE ATTENTION OF

THESE REAL ESTATE

THE MOST

INVESTORS.

CONSERVATIVE
first—They have

individual liability of the

the

maker.

Second—Each bond is secured by a first mortgage

than double its value.

eal estate of not less

BONDS,

MORTGAGE

$1,000,090 CAPITAL.

OLYPHANT A Co., of China,
104 Wall St., New

YORK.
In 1861.]

[Established at Champaign, Illinois,

GUARANTEED BY THE

A

RXPRE8ENTED by

Burnham,

C.

A.

REAL ESTATE

& Co.,

Olyphant

Financial.

Financial

Commercial Cards.

of

Third—The prompt payment of both principal and
uterest of every bond is guaranteed by this Company.
The Company guaranteeing tnese Bonds receives no
deposits, owes no money, and incurs no obligations of

character except those arising from such guaranty
keeping Its whole coital of One Million
Dollars unimpaired. TO MEET AT ALL TIMES the
prompt payment of both principal and interest of

negotiated through the houses of
BURNHAM, TREVETTdo MA TTIS, Champaign, Rl.
BURNHAM A, TULLEYS Council Bluffs, Iowa.
BURNHAM, ORMSBY A CO , Emmetsburg ,.Iowa,
KANSAS LOAN A TRUST CO., Topeka, Kansas.
Investors may rely upon perfect security and prompt
Interest, as all loans are madeiii person, by the above
firms; who, living on the groundr know the actual
values of lands and charact r and responsibility of bor
rowers.
County and School bonds for tale. Investors
invited to call or send for descriptive lists of securities

Ten Per Cent Net

ny

thereby

MIL WARD’S HELIX NEEDLES.
400 BROADWAY, NEW YORK.

E.R.Mudge,Sawyer6cCo
AGENTS

Washington Mills*

KOIC

Clileopee Mfg Co.,

Burlington Woolen Co.,
Ellerton New Mills,
Atlantic Cotton Mills,
Saratoga Victory Mfg

ON

these Bonds.
All mortgages

Have had an experience of over twelve years In the
business. Make none but safe loans. Loan no more
than one-third the actual value of the security. Guar¬
antee a personal inspection of the security In every

securing the Bonds are formally ap
proved by the followiug Executive Board :
ROBERT L. KENNEDY, ADRIAN iSELIN,
SAMUEL WILLETS,
JAMES A. ROOSEVELT,
KUGEnE KELLY.
WM. REMSEN.
JHAS. BUTLER,
JOHN D. MAXWELL,
GUSTAV STELLWAG.
1 hese Securities bear Seven Per Cent Interest pay¬
able semi annually, and are oflered for BRle at one
hundred and two and interest at the office of the
Equitable Trust Company, Nos. 52 & 54 William street.
JONATHAN EDWARDS, President.

FIRST MORTGAGE SECURITY.

lowa

case,

amply secured on Iowa farms, constantly on hand ana

for sale at our New York office.
Refer to John Jeffries, Esq., Boston,

Mass.; Jacob D
Vermllye, and Gilman, Son & Co., New York; J. M.
Allen, Esq., Hartford, Conn., and others, on applica¬
tion.

Send for Circular.

miii

Co.,

TIIE

AND

DRAWERS.

HOSIERY, SHIRTS and

BOSTON,
15 Chauncky c”.

NEW YORK,
43 & 45 White Street.
J

PHILADELPHIA,
W. DAYTON, 230 CUR8TNUT STREET.

Wright, Bliss & Fabyan,
DRY GOODS COMMISSION

MERCHANTS,

105 AND INTEREST,

SEVEN PER CENT TEN-YEAR RONDS
SECURED

BY

FIRST MORTGAGES OF IMPROVED

ESTATE.

GUARANTEED, PRINCIPAL AND INTEREST,

202 Chestnut St.,

NEW YORK,

PHILADELPHIA.

Brinckerhoff, Turner
6c

Co.,

Manufacturers and

Dealers lu

COTTONS AIL DUCK
And all kinds of

FELTING DUCK, CAR COVER
RAVENS DUCK, SAIL TWINES
ONTARIO” SEAMLESS BAGS,

COTTON CANVAl,
1NG, BAGGING.
&C.

“

“AWNING STRIPES.”

Also, Agents

United
A fall

States Bunting

Company.

supply all Widths and Colors always
No. 109

Duane

in stock.

Street.

John Dwight 6c Co.3

CAPITAL, STOCK OF

or

SODA.
No, 11 Old Slip, New York.
The joooing Trade ONLY Supplied

RICE.

$500,000.

Interest Coupons payable semi-annually.
Bonds
registered to order, or payable to bearer at option.
Accrued interest is not icquired tube paid by pur¬
chaser, the next-due Coupon being stamped so as to
denote that interest begins at the date of purchase.

Pamphlet with full information will be sent on
application at the Company’s Office.
43 Milk Street, Boston.
These Bonds are commended to the attention of the
MOST CONSERVATIVE INVESTORS, as they are
believed to be as perfect a security as can be obtained.
The issue of bonds is limited to one-half the amount
of the same class of bonds ever issued under a like
Guarantee.
The security of each bond Is not confined to a single

Mortgage, but extends over all the Mortgages owned
by the Company. This Company receives no deposits,
guarantees no other securities, and has no other debts
than its bonds. Its mortgages are of like character to
those which have been bought in the last twenty years
by Individuals, Life Insurance Companies and other
Corporations, to the amount of more than Fifty Mil¬
lions of Dollars, proving a most secure and satisfactory
investment. The loans arc all upon improved farms
In some of the most fertile Western States, near the
railroads, with short and perfect titles, and average
less than $520 each, upon property appraised at about
three times their amount. Experience has proved that
well-selected mortgages upon this class of property
are safer than those upon city property, either in the
East or West. They are not affected by fires, or by
business revulsions; principal and interest are more
promptly paid ; and upon the success of agriculture
depends that of almost every industrial investment.
HENRY SALTONSTALL, President.
FRANCIS A.

Talmage’s Sons,

92 Wall Street,

New York,

Adger’s Wharf, Charleston, S, C.




16 Contt

Street, New Orleans.

Mortgage Loans
CAREFULLY SELECTED, secured by FIRST LIEN
on DESIRABLE Real Estate In Chicago and vicinity.
THE SAFEST and MOST PROFITABLE INVEST¬
MENT, now paying from Eight to Nine Percent,

Interest payable semi-annually. Prin¬
per annum.
cipal and Interest Coupons PAID PROMPTLY.

Baldwin, Walker 6t Co.,
HAWLEY

BUILDING,

CHICAGO,

SPECIALTY OF SUCH INVESTMENTS for
Capitalists, -and invite correspondence anb in¬
quiry A8 TO THEIR STANDING.
Well-known references on application.
MAKE A

WM.W.WAKEMAN. JAS. R. JESUP, JR., AARON

CONKLIN

Member N. Y. Stock Ex.

AND

RANKERS

WALL

36

BROKERS,

STREET.

Government Securities, Stocks & Bonds*
ALSO,

CALIFORNIA
MIXING
BOUGHT AND

AND

Geo. C. Richardson,
Thomas Wiggleswortb,
Geo. P. Upham.

Lawrence,
James L. Little,

NEVADA

STOCKS

SOLD ON COMMISSION.

of

Quotations of aU the active Mining Stocks

San Francisco Stock Board, and Mining news received
daily, furnished by mail to any party desiring the in¬
formation.

John Ewkn, Jr.,
William P. Tuttle,
Member Stock & Gold Exch. Member Stock Exchange

Ewen 6c

Tuttle,

BANKERS AND BROKERS,

21 New Street,

Ne. 62 Broadway and

VICE-PRESIDENTS :

Amos A.

Wm. W. Wakeman 6c Co

OSBORN, Treasurer.
Buy and sell Stocks, Bonds and

Gold on commission

Interest allowed on deposits.

directors:

E. R. Mudge,
John P. Putnam.
David R. Whitney,

Charles L.

Flint,
Henry Saltonstall,
Charles L. Young,

J. B. Upham.

Alex Frothingham

6c Co.

BANKERS AND BROKERS,

counsel:

Hon. Henry W. Paine, Boston,
Simeon E. Baldwin, New Haven.

12

No.

WALL

STREET.

Reliable STOCK PRIVILEGES negotiated at
The Bbidge that ebxs carried you safely oveb

A Solid Ten Per Cent.

Dan

BURNHAM, No. 33 Pine Street, New York.

A

MANUFACTURERS OF

SUPER-CARBONATE

A. C.

(Established 1869.)

BY ITS

11 and 13 Thomas St.,

BURNHAM A TULLETS,
Council Bluffs, Iowa.

Mortgage Security Co.
OFFERS FOR SALE, AT

REAL

ROSTON,

100 Summer Street,

ENGLAND

NEW

Loans, when carefully plucea, safe as

Government Bonds
Choice Loans of $1,000 and upwards made at NINE
PER CENT net.
Choice First-Class mortgages/

The old established CENTRAL ILLINOIS LOAN
AGENCY, known all over New England and the Mid¬
dle States as the Agency whose Interest coupons are
paid as certainly and as promptly as the coupons of
Government Bonds, has enlarged its field and changed
Its name to “ THE KANSAS, MISSOURI & CENTRAL
ILLINOIS LOAN AGENCY.” There is no change in
Its character or management. If a certain clean TEN
PER CENT will satisfy you, address for Circular.
Actuary. “ KANSAS, MISSOURI & CENTRAL ILLI¬
NOIS LOAN AGENCY,” Jacksonville, III.

able rates.

Stocks bought and sold on a

five per cent.

favor¬

margin of

Circulars and Weekly Financial

Report

sent free.

MEN AND IDIOMS OF WALL STREET
Is a new 72 page book giving the highest and lowest J
prices of stocks for 15 years, complete list of defaulted
railroads. Black Friday, sketches of leading opera¬
tors, and the "method of dealing on small sums of
money. Copies sent free to any address, Oraers for
stocks and stock privileges executed by mail and tele*
graph, collections made, money invested, and infor
mation g

en

by

*

JOHN

R. A. Lancaster 6c
BANKERS
66

JOSEPH GILLOTT’S
STEEL PENS.
all dealers throughout the IVor Id,

Sold by

Co.,

AND BROKERS,

Broadway,

New

York.

SOUTHERN AND MISCELLANEOUS SECURITIES
Bought and Sold on Commission.
VIRGINIA STATE AND RAILROAD SECURITIES
A

Iiftans

Specialty.

Negotiated, '

HICKUING & CO., '•
72 BROADWAY, NEW YORK-

Bankers and Brokers,

STOCK

SPECULATORS

Should read the Daily

Market Report,

containing

World,

money articles of New York Herald, Tribune,
and Sun, which are reprinted same day as
those journals: also, report of all Eales of
market quotations for privileges at New York

published m
stock and
Stock
Exchange. This four-paged sheet will be mailed to anr
address daily on receipt of postage (26 cents a month J
U. W. HAMILTON A CO.,
87 Broad Street, New

York#